Faith Investor Services LLC and Capital Insight Partners LLC have announced the launch of the FIS Biblically Responsible Risk Managed ETF (NYSE Arca: PRAY), the first-ever actively managed, biblically responsible, risk-managed exchange traded fund.
The fund, which begins trading on the NYSE Arca on Tuesday under the ticker symbol PRAY, seeks to allow investors to align their investment portfolios with Christian values. PRAY is designed as a core equity holding that employs a risk managed approach to investing that seeks long-term growth of capital and income with a measure of downside protection in falling markets.
Biblically responsible investing refers to a faith-driven investment strategy that seeks to invest in companies whose values and actions align with those of Christianity. CIP serves as the sub-advisor, with a team of four portfolio managers who understand the goal of aligning investments with faith-driven values.
PRAY is actively managed by CIP’s team of portfolio managers, both in seeking sound investments and adherence to biblical values. PRAY provides all-cap, global stock market exposure.
“While biblically responsible investing has existed for decades, there has not been a truly active strategy that offered built-in risk mitigation until now,” said FIS CEO Mike Skillman in the press release announcing the fund’s launch. “This is critical in order to give Christians a way to invest without having to compromise their faith or take unnecessary risk. Through PRAY, our investors can know they’re making a financial decision in alignment with their Christian morals, while potentially navigating turbulent market environments.”
Before an investment is added to the portfolio, CIP conducts ethical screening as well as quantitative and qualitative analysis to ensure that the company’s business practices do not conflict with Christian values. The active screening process omits companies that profit from abortion, as well as those that produce weapons of mass destruction, adult entertainment, gambling software, and alcohol and tobacco products. CIP is led by Steve Nelson, a devoted Christian and portfolio manager with 35 years of investment experience.
“Capital Insight Partners is humbled to serve clients with a strong interest in faith-based investing,” added Nelson in the release. “The launch of this risk-managed ETF takes our capabilities further and introduces a new investment vehicle to the broad Christian community. We feel companies that serve the greater good are more likely to prosper and grow sustainably over the long term. CIP believes in the efficacy of biblically responsible investing, so we’re grateful for this opportunity to work with a firm like Faith Investor Services that adheres to the same ethical principles.”
To help mitigate overall volatility, PRAY can adjust its exposure to short-term cash instruments as market conditions warrant.
PRAY will be FIS’ second faith-based ETF offering. Their first, the FIS Knights of Columbus Global Belief ETF (NYSE Arca: KOCG), launched in July 2021 and is sub-advised by the Knights of Columbus Asset Advisors. KOCG is managed in accordance with the investment guidelines set by the United States Conference of Catholic Bishops.
PRAY has an expense ratio of 0.68%.
To learn more, visit www.faithinvestorservices.com.
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