Cook, Nadella, Jassy make the cut, Zuckerberg & Musk don’t in new ‘Return on Character’ ETF
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ROC Investments has launched the world's first thematic exchange traded fund that offers exposure to stocks that are run by what are deemed to be high-character CEOs. The Return On Character ETF (ROCI) gives high marks to names like Tim Cook, Satya Nadella, and Andy Jassy while excluding CEOs such as Mark Zuckerberg and Elon Musk.
The goal of the fund is to showcase business leaders that illustrate a high level of character. As such, it features Apple (AAPL), Microsoft (MSFT), and Amazon (AMZN) as its top three positions weighted stocks at 6.60%, 5.99%, and 3.92%.
The new actively managed exchange traded fund is built up of a total of 106 stocks and has a 0.49% expense ratio.
ROC Investments believes the financial markets regularly misprices the value of extraordinary leadership, and ROCI intends to invest in âU.S. companies whose managementâs behavior exemplifies what we believe to be the highest level of character.â
Dan Cooper, Founder and CEO of ROC Investments, stated: âThe four pillars of ROCâs character model â Integrity, Responsibility, Forgiveness, and Compassion â are the same principles parents seek to instill in their children, and yet they are often found lacking in the financial world. Far more than exterior characteristics like education, tenure, politics, age, industry or religion, it is these interior traits that determine character. Our hope is that the ROC ETF will show that not only does character matter, but it is the best way to live and invest.â
See how ROCIâs top three holdings AAPL, MSFT, and AMZN performed in 2022 as seen in the below chart: