Non-diversified funds that focus on a relatively small number of issuers tend to be more volatile than diversified funds and the market as a whole.
Concentrated investments in a particular industry or sector may be more vulnerable to adverse changes in that industry or sector.
The returns on a portfolio of securities which exclude companies that do not meet the portfolios specified ESG criteria may trail the returns on a portfolio of securities which include such companies. A portfolios ESG criteria may result in the portfolio investing in industry sectors or securities which underperform the market as a whole.
Gender diversity risk: The returns on a portfolio of securities that excludes companies that are not gender diverse may trail the returns on a portfolio of securities that includes companies that are not gender diverse.
Foreign (non-US) Securities may be subject to greater political, economic, environmental, credit and information risk. Foreign securities may be subject to higher volatility than US securities, due to varying degrees of regulation and limited liquidity. These risks are magnified in emerging markets.
No fossil fuel reserve ownership may have an adverse effect on a company’s profitability and, in turn, the returns of the fund.