Launching a new chapter in the world of ETFs, Inspire Investing introduced the Inspire 500 ETF (NYSE Arca: PTL) on a gleaming Tuesday. Defined by its modest net expense ratio of 0.09%, rivalling the SPDR S&P 500 ETF Trust (SPY), PTL seeks to mimic the performance of the Inspire 500 Index. This index filters the 500 largest American companies based on their conformity with both biblical values and other stringent criteria deemed essential by Inspire.
Expanding Large-Cap Horizons
Asserting a pioneering spirit in cost-efficient index investing for faith-centric investors, Robert Netzly, the CEO of Inspire, expressed his enthusiasm over the launch of PTL. “PTL optimistically opens a path to affordable ETF investments imbued with faith. It’s a realm where our relentless pursuit to drive costs down, a crusade initiated back in 2017, has borne fruit. With our current stature and expansion, we are ecstatic about the debut of this 9-basis point ETF, ready to rival the colossal ETFs globally in terms of expense. With the universe’s favor, I anticipate PTL to mark its territory as the premier billion-dollar faith-based ETF,” he remarked.
To ensure optimal alignment with the index’s performance, the fund may adopt a representative sampling strategy to achieve exposure instead of holding all 500 components closely.
Currently housing nine US-listed ETFs, Inspire Investing boasts over $1.4 billion in assets under management. The heavyweight champion in its lineup, the Inspire 100 ETF (BIBL), commands assets exceeding $370 million in its realm.
*A side note: Previously, mention was made of the index methodology evaluating companies based on “widely accepted ESG factors.” However, as of August 2022, Inspire has distanced itself from using the term “ESG” concerning its funds.
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