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Apple and Facebook in New UBS ETF Tracking LGBT Employment Equality

Apple, Facebook and some 300 other companies are part of a new exchange traded fund tracking companies offering LGBT equality.
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Apple  (AAPL) - Get Apple Inc. (AAPL) Report , Facebook (FB) - Get Facebook, Inc. Class A Report and some 300 other companies are part of a new exchange traded fund tracking companies offering LGBT equality.

The fund is called the InsightShares LGBT Employment Equality ETF (PRID) - Get InsightShares LGBT Employment Equality ETF Report and launched in January 2018. The fund lost 4.6% of value since its launch, compared to a 5.3% decline for the S&P 500.

"To be included in the ETF, you have to meet certain financial criteria," said Rich Cea, executive director of exchange traded products at UBS (UBS) - Get UBS Group AG Report . "But the key thing is that we utilize the Human Rights Campaign's Corporate Equality Index where they rate companies based on how well they promote workplace equality for LGBT employees -- and you have to get an 85 or higher out of 100 on that to be included."

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