Impact investing has taken hold among millennials, because it means investing with a social and environmental conscience. Young people increasingly insist on putting their money into investments that contribute to the well-being of the planet and humanity. And this trend is not exclusive to millennials. Baby boomers and older investors are also getting on board.

As a response, various financial services companies such as MSCI and Morningstar have developed their own ESG (environmental, social and corporate governance) ratings to rank companies and investments on their adherence to various principles.

We have chosen five of the top socially responsible ETFs that are available today. We selected these ETFs based on their commitment to impact investing and assets under management. In other words, these are the five largest socially and environmentally responsible exchange-traded funds.

All figures are current as of April 11, 2017.

1. iShares MSCI KLD 400 Social ETF (DSI)

DSI tracks 400 companies that seek to make a positive contribution to social and environmental conditions. The fund excludes any company involved in weapons, tobacco and alcohol, nuclear energy and genetically modified foods. The fund also specifically excludes Apple, Exxon Mobil and AT&T and is known for being very accurate in tracking companies that have a strong ESG rating.

There is a lot of technology in the portfolio, and less focus on industrials and financial stocks.

  • Expense Ratio: 0.50%
  • Assets Under Management: $800.64 million
  • Average Daily Volume: 3.14 million
  • Weighted Average Market Cap: $119.16 billion
  • Distribution Yield: 1.37%
  • Number of Holdings: 397

2. iShares MSCI USA ESG Select ETF (KLD)

This fund tracks 250 companies with high ESG ratings, and invests in about 100 of those companies. KLD weights its holdings, giving more weight to companies with high ESG rankings and less weight as companies score lower on ESG criteria. This fund does invest in IBM and Apple, but it leans more toward mid-cap stocks.

This is a popular fund, and comes in second on our list in terms of the amount of assets under management.

  • Expense Ratio: 0.50%
  • Assets Under Management: $518.77 million
  • Average Daily Volume: 1.94 million
  • Distribution Yield: 1.41%
  • Number of Holdings: 123

3. iShares MSCI ACWI Low Carbon Target ETF (CRBN​)

This is a global fund that looks at carbon emissions as its criteria for investing in companies. Lower greenhouse emissions are essential in this fund, and these are measured in relation to each company’s size.

It should be noted that CRBN is identical to LOWC, which is also on our list. The two came on the market within weeks of each other. CRBN has more assets because it started with more seed capital.

  • Expense Ratio: 0.20%
  • Assets Under Management: $362.64 million
  • Average Daily Volume: 804.41 K
  • Distribution Yield: 2.12%
  • Number of Holdings: 1156

4. SPDR SSGA Gender Diversity Index ETF (SHE)

This is a gender-diversity fund. It invests in companies that have a high percentage of women in positions as executives and directors. SHE looks at the 1,000 largest companies in the United States and measures the ratio of women to men that are in significant positions in the company. Only the top 10% of companies ranked this way are included in the fund.

SHE also weights each investment based on the market cap of the companies it invests in. This should be considered a large-cap fund.

  • Expense Ratio: 0.20%
  • Assets Under Management: $288.99 million
  • Average Daily Volume: 206.44 K
  • Distribution Yield: 6.49%
  • Number of Holdings 184

5. SPDR MSCI ACWI Low Carbon Target ETF (LOWC​)

Like CRBN, LOWC targets companies with low carbon emissions. It should not be considered a clean energy fund, in that it does not focus on solar or wind power, but instead ranks traditional companies based on their carbon footprints. The fund aims for returns that are competitive with the larger market, and weights its investments by sales and company size.

  • Expense Ratio: 0.20%
  • Assets Under Management: $135.49 million
  • Average Daily Volume: 99.59 K
  • Distribution Yield: 1.88%
  • Number of Holdings: 1505

The Bottom Line

The days are gone when investors had to shrug off concerns about people and the planet when investing. These ETFs manage to find companies to invest in that demonstrate some consciousness about reducing negative impacts. Each of the funds on our list is fairly liquid, meaning you can buy or sell with relative ease, because buyers and sellers are readily available. (See also: Impact Investing Funds: What are the Risks?)

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