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Exxon activist investor shakes up USD 6.5trn ETF market

Not content with roiling a major oil company and sending shock waves through the market, Engine No. 1 is looking to kick start a mini-revolution in how trillions of dollars of passive cash engages with Corporate America.

Photo: KAREN BLEIER/AFP / AFP FILES

Impact investment group Engine No. 1 is gearing up to launch its first exchange-traded fund, called the Engine No. 1 Transform 500 ETF. The clue as to how it hopes to shake things up? It’s in the ticker: VOTE.

Instead of excluding companies with bad scores in environmental, social and governance metrics, or handing "good" companies a bigger weighting, the fund aims to encourage better behavior using its shareholder voting rights.

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