Will JLens consider launching additional ETFs with different market exposures (such as international, small-cap, or fixed income) using similar Jewish values methodology?
While our immediate focus is on establishing the TOV ETF as a flagship product representing large-cap U.S. equity exposure, we are evaluating opportunities to expand our Jewish values investment offerings across additional asset classes. Any future product development would be guided by community feedback, investor demand, and where our advocacy approach can be most effective. As we grow, we remain committed to maintaining the same rigorous research and advocacy standards across any potential product expansions.
Why has it taken so long to create an ETF based on Jewish values, when other faiths have had such vehicles for some time?
Christian denominations, in particular, have centralized policy-making bodies that have enabled them to take an early lead in establishing programs for leveraging pools of capital in furtherance of their values. Because the Jewish community is more decentralized, it has taken longer to create a faith-based investment vehicle. That said, there have always been initiatives, by ADL and others, to support and advocate for Jewish values. Given the recent spike in antisemitism in various environments, it is essential to adopt new approaches, including through the investment marketplace.
How does the TOV ETF compare to JLens’ current SMA strategy?
The TOV ETF offers several advantages over JLens’ current SMA strategy, particularly enhanced advocacy capabilities. As a pooled investment vehicle, the ETF creates greater leverage for engaging with companies on Jewish community priorities. Please see this side-by-side comparison of the SMA and ETF. JLens plans to phase out its current SMA strategy by the end of 2025. We’re developing a new TOV SMA option based on the same JLens 500 Index that the ETF tracks. The new SMA will provide customization options beyond the core Index screens, allowing investors to add additional values-based screens like fossil fuels or civilian firearms manufacturing if desired. This customization capability is reflected in its slightly higher expected expense ratio (approximately 25 basis points versus 18 for the ETF). For most investors, the ETF provides the optimal balance of Jewish values alignment, cost efficiency, and advocacy impact. For those requiring customized screens, the forthcoming TOV SMA will provide that flexibility.
How does TOV compare to Israeli ETFs or Israel bonds?
TOV employs a passive management approach with exposure to the largest U.S. public companies. JLens conducts advocacy with the portfolio on JLens Jewish value pillars, which include “Support for Israel,” “Combat Antisemitism & Hate,” and “Tikkun Olam” (repairing the world). Other firms may offer investment products with a concentration in Israeli companies or Israel bonds. For the Jewish community, these funds are complementary to TOV but fundamentally different. As a large-cap domestic equity fund, TOV does not invest directly in the Israeli economy; rather, through TOV, JLens will engage with large US public companies on the maintaining their business relationships with Israel and not acquiescing to the BDS movement. JLens also conducts shareholder advocacy related to combating anti-Israel shareholder proposals of BDS investors (e.g., leading a shareholder campaign to vote against a BDS proposal at Amazon asking them to discontinue their contract with the Israeli government). Ultimately, both TOV and Israeli funds are powerful investment vehicles for the Jewish community to align their investments with their values, but differ in investment strategy.
How does the expense ratio for TOV compare to other similar funds?
TOV’s 0.18% expense ratio is highly competitive within the values-based ETF landscape, particularly among faith-based investment options. While TOV’s expense ratio is higher than the ultra-low-cost market index funds offered by Vanguard, State Street, and BlackRock, this difference reflects TOV’s added value proposition. The additional costs support JLens’ ongoing research, analysis, and direct engagement with companies on behalf of Jewish values and priorities. Unlike these other index funds, TOV’s fees support active shareholder advocacy work including: Direct dialogues with corporate management on Jewish community concerns Values-aligned proxy voting and opposition to anti-Israel or harmful shareholder proposals Strategic shareholder resolutions focused on combating antisemitism, supporting Israel, and advancing Tikkun Olam These advocacy activities represent a core component of the fund’s value proposition beyond simple investment returns, creating positive impact aligned with Jewish communal interests. Please see this blog post for a more detailed comparison of TOV to other similar funds.