Big ESG funds are doing worse than the S&P 500
Funds linked to environmental, social and governance principles are by definition supposed to minimize risks tied to those three factors. In 2022, the approach did little to help protect investors from the brutal slide in the financial markets.
By Tim Quinson, Bloomberg
The 10 largest ESG funds by assets have all posted double-digit losses, with eight of them falling even more than the S&P 500’s 14.8% decline. The laggards include BlackRock Inc.’s USD 20.7bn iShares ESG Aware MSCI USA exchange-traded fund (ESGU) and Vanguard Group’s USD 5.9bn ESG US Stock ETF (ESGV).
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