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Praxis Investment Management has launched two new exchange-traded funds (ETFs) on the NYSE: the Praxis Impact Large Cap Growth ETF (PRXG) and Praxis Impact Large Cap Value ETF (PRXV). These active ETFs are designed for faith-based investing, offering lower cost, transparent, and tax-efficient investment options without compromising performance.
The funds employ quantitative equity strategies similar to those used in the Praxis Growth Index Fund (MMDEX) and Value Index Fund (MVIIX). They aim to track the CRSP US Large Cap Growth Index and CRSP US Large Cap Value Index respectively, while applying faith-based equity screens. Both ETFs have an expense ratio of 0.36% and will be managed by Benjamin Bailey, Vice President of Investments, who brings over 20 years of investment management experience.
Praxis Investment Management has released a groundbreaking research study revealing a significant disconnect between financial advisors and clients regarding faith-based investing. The study, based on surveys of 1,001 investors and 403 financial advisors, shows that 75% of investors want to discuss faith-based investing with their advisors, yet only 9% of advisors are willing to initiate such conversations.
Key findings reveal that 65% of advisors perceive a lack of client demand, while only 59% are aware of faith-based investment options. Advisors express concerns about product availability and competitive performance. In conjunction with this research, Praxis announced the launch of two new active equity ETFs: Praxis Impact Large Cap Growth ETF (PRXG) and Praxis Impact Large Cap Value ETF (PRXV), both with expense ratios of 0.36%.
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