Anti-woke investment firm to release new ETF that shuns DEI-focused companies

Published On Dec 16, 2024, 1:11 PM

A new ETF called the Azorias Meritocracy ETF (ticker: SPXM) is being launched which will exclude companies that focus on diversity, equity, and inclusion (DEI) initiatives. The CEO of Azoria, James Fishback, argues that prioritizing DEI over merit leads to underperformance in stocks. The ETF aims to include only those companies that prioritize meritocratic hiring practices. Notably, popular firms like Starbucks, Vanguard, Best Buy, and BlackRock will be excluded from this ETF based on their DEI policies. It's set to launch in 2025.