Latest news with #Crossmark
Yahoo
29-07-2025
- Business
- Yahoo
Faith-Based Firm Led by Bob Doll Adds First ETFs
Bob Doll's latest mark on the religious-values firm Crossmark Global Investments is the introduction of two ETFs, the first such products that firm has offered in the wrapper. Last week, the company launched its Crossmark Large Cap Growth and Large Cap Value ETFs, both of which are copies of strategies in separately managed accounts that Doll, the CEO, added to the company when he started there four years ago. The funds invest in Russell 1000 companies, excluding those involved in alcohol, tobacco, abortions, stem-cell research, adult entertainment or cannabis. The corresponding SMAs have beaten their benchmarks and have pulled in new money, reaching a combined total of about $700 million. But, as Doll said he told his company, 'we can be a firm if we don't have ETFs — but if we really want to thrive we need ETFs.' READ ALSO: What Coca-Cola's New Sugar-Cane Coke Means for a Sugar ETF and Why the SEC Keeps Putting Off Diversified Crypto ETFs Spreading the Gospel About two-thirds of Crossmark's assets are in portfolios with religious values screens, Doll said. 'We're very broad-based. Our goal is to avoid products that are designed to maim or kill people,' he told ETF Upside. The firm could eventually have six to eight ETFs in its lineup, he noted. While there are more than 40 US ETFs with Christian or Sharia-compliant investment strategies, financial advisors said there is room for more products: Invest in Gold American Hartford Gold: #1 Precious Metals Dealer in the Nation Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase Thor Metals Group: Best Overall Gold IRA 'The number of religious-specific ETFs is still rather low, resulting in ETFs that are built for a broader client base,' said Omen Quelvog, founder of Formynder Wealth Management. 'The difficulty there is the number of holdings that could still cause a conflict.' 'Some are solid, but many are too generic and often don't show clearly what's inside them. That lack of clarity doesn't work for values-based families who want more intention behind their investments,' said Daniel Goodman, founder of Good Better Best Financial Planning. 'That's why I often use direct indexing.' Branches and Denominations: Crossmark and others provide a range of strategies to reflect nuances in faith, though it can be difficult to offer something for everyone. 'As a Catholic myself, I appreciate the attempt to create religious ETFs,' said Alvin Carlos, managing partner of District Capital Management. 'But I am skeptical about whether one can truly reflect one's religious beliefs. There are so many angles to consider.' This post first appeared on The Daily Upside. To receive exclusive news and analysis of the rapidly evolving ETF landscape, built for advisors and capital allocators, subscribe to our free ETF Upside newsletter. Sign in to access your portfolio
Associated Press
23-07-2025
- Business
- Associated Press
Crossmark Global Investments Launches Two Active Values-Based ETFs, Managed by Industry Veteran Bob Doll
HOUSTON, July 23, 2025 /PRNewswire/ -- Crossmark Global Investments, a faith-based investment management firm offering values-based strategies, has launched two actively managed exchanged-traded funds (ETFs): Crossmark Large Cap Growth ETF (ticker: CLCG) and Crossmark Large Cap Value ETF (ticker: CLCV). These products mark the firm's debut in the ETF space, driven by investor demand for actively managed funds with Crossmark's exclusionary and inclusionary values-based screening process, in a transparent ETF wrapper. They will be managed by Bob Doll, CFA, Portfolio Manager, CIO, and CEO of Crossmark, and co-managed by Ryan Caylor, CFA, Portfolio Manager and Crossmark's Head of Research. The funds will mimic the investment strategies of the firm's separately managed accounts managed by the team, and portfolio managers will work to identify high-conviction securities through a combination of fundamental and quantitative factors, values-based criteria, prudent portfolio constraints, and risk management tools, with the goal to seek long-term capital appreciation. Crossmark Large Cap Growth ETF seeks to outperform the Russell 1000 Growth Index through investments in the large cap growth segment of the U.S. equity universe, and Crossmark Large Cap Value ETF aims to outperform its benchmark, the Russell 1000 Value Index, by identifying resilient value securities. 'We have always strongly believed that investors do not need to compromise on personal values in order to invest in outperforming strategies,' said Bob Doll, CFA, Portfolio Manager, CEO, and CIO at Crossmark. 'Not only does our screening process exclude companies that have negative business practices or corporate governance concerns, but we also have the ability to actively include companies that work to reduce risk and build long-term resilience through responsible business practices.' 'Moving into the ETF space was a natural next step in our firm's progression,' said Heather Lindsey, Head of Distribution at Crossmark. 'These ETFs offer investors an accessible tool for actively managed investment solutions while satisfying demand for values-based investment options.' About Crossmark Global Investments Crossmark Global Investments is a faith-based investment management firm that creates and manages values-based investment strategies with a goal of providing performance excellence for financial intermediaries and their clients. Founded in 1987, the firm specializes in developing tailored solutions and has a rich history of inspiring and equipping its clients to align their investments with their values. Crossmark is indirectly owned by a non-profit organization, and our net income supports multiple ministry programs. We believe in the power of giving back and making a positive impact on the world we live in. To learn more, visit Crossmark's website, or LinkedIn page. An investor should consider the investment objectives, risks, charges, and expenses of the funds carefully before investing. The prospectus and, if available, the summary prospectus contain this and other information about the funds. You may obtain a prospectus and, if available, a summary prospectus by downloading from or calling Crossmark toll-free at 888-845-6910. Please read the prospectus or summary prospectus carefully before investing. The funds may not achieve their objectives if the managers' expectations regarding particular securities or markets are not met. Equity investments generally involve two principal risks – market risk and selection risk. The value of equity securities will rise and fall in response to general market and/or economic conditions (equity market risk). The funds' values-based screening policies exclude certain securities from the universe of otherwise available investments. As a result, the funds may not achieve the same performance they otherwise may have in the absence of the screening process. If the funds have invested in a company that is later discovered to be in violation of one or more screening criteria and liquidation of an investment in that company is required, selling the securities at issue could result in a loss for the funds. Further, the funds' values-based screening policies may prevent the funds from participating in an otherwise suitable investment opportunity. The funds' investment adviser considers positive value characteristics when making investment decisions. There is a risk that the funds may forgo otherwise attractive investment opportunities or increase or decrease exposure to certain types of issuers and, therefore, may underperform strategies that do not consider the same or any positive value characteristics. A company's positive value characteristics are determined based on data and rankings generated by one or more third-party providers unaffiliated with the adviser, and such information may be unavailable or unreliable. Additionally, investors can differ in their views of what constitutes positive value characteristics. As a result, the funds may invest in issuers that do not reflect or support, or that act contrary to, the values of any particular investor. The funds are subject to management risk because they are actively managed investment portfolios. The adviser will apply investment techniques and risk analyses in making investment decisions for the funds, but there can be no guarantee that these will produce the desired results. There can be no assurance that the quantitative models used in managing the funds will perform as anticipated or enable the funds to achieve their objectives. The funds are classified as non-diversified under the Investment Company Act of 1940, as amended. This means that the funds may invest in securities of relatively few issuers. Investments in large cap companies and in growth stocks are subject to the risks of equity securities. An investment in the funds involves risk, including possible loss of principal. ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETF's net asset value (NAV), and are not individually redeemable directly with the ETF. Brokerage commissions and ETF expenses will reduce returns. ETFs are subject to specific risks, depending on the nature of the underlying strategy of the funds. These risks also include value stocks risk, market disruption and geopolitical risk, inflation risk, issuer risk, small- and mid-cap companies risk, other investment companies or real estate investment trust risk, focus risk, concentration policy risk, market price risk, small fund risk, and authorized participant concentration risk. For a complete description of the funds' principal investment risks, please refer to the prospectus. Past performance does not guarantee future results. The Russell 1000® Growth Index measures the performance of the large cap growth segment of the U.S. equity universe. It includes those Russell 1000 companies with relatively higher price-to-book ratios, higher I/B/ E/S forecast medium term (2 year) growth and higher sales per share historical growth (5 years). The Russell 1000® Value Index measures the performance of the large cap value segment of the U.S. equity universe. It includes those Russell 1000 companies with relatively lower price-to-book ratios, lower I/B/E/S forecast medium-term (two-year) growth, and lower sales per share historical growth (five years). Indexes are unmanaged, do not incur management fees, costs, and expenses, and cannot be invested in directly. PINE Distributors LLC is the distributor for the Crossmark ETFs (the 'funds'). Crossmark Global Investments Inc. (Crossmark) serves as the investment adviser of the Crossmark ETFs. PINE Distributors LLC is not affiliated with Crossmark Global Investments Inc. CRSMK-4654419-07/25 View original content: SOURCE crossmark global investments
CNBC
22-07-2025
- Business
- CNBC
Crossmark's Bob Doll talks launch of two new large cap ETFs
Crossmark's Bob Doll joins 'Closing Bell Overtime' to talk the launch of Crossmark's new ETF's with focus on large cap growth and value.
Reuters
16-06-2025
- Business
- Reuters
Investors shun long-term US bonds as hopes for aggressive Fed rate cuts fade
NEW YORK, June 16 (Reuters) - Bond investors, anticipating the Federal Reserve will hold interest rates steady again this week, are moving away from longer-dated Treasuries as they temper expectations for an aggressive easing given the lower chance of a U.S. recession. Their flight away from the long end of the curve also reflects worries about President Donald Trump's tax and spending bill, which is being considered by the U.S. Senate. On Wednesday, the U.S. central bank's policy-setting Federal Open Market Committee is widely expected to keep its benchmark overnight interest rate in the 4.25%-4.50% range at the end of a two-day meeting, as it tries to grapple with a mercurial Trump administration trade policy that could still boost inflation in the second half of the year. But soft consumer and producer price readings in May, which so far have yet to show the effects of higher tariffs on inflation, have fanned expectations that the Fed could resume cutting rates soon. Futures tracking the Fed's policy rate show higher odds that the central bank will deliver a pair of back-to-back rate cuts starting in September. Before the release of the latest inflation numbers, the market had priced in a cut in September followed by another one in December. The Fed reduced rates three times in 2024 before pausing its easing cycle early this year. "I don't necessarily want to go long duration," said Victoria Fernandez, chief market strategist and fixed income portfolio manager at Crossmark Global Investments in Houston. While traders are betting the Fed's next rate cut will happen at its July or September meetings, Fernandez said she could see it happening "toward the very end of the year or even into next year." Duration, expressed in number of years, shows how far the bond's value will fall or rise when interest rates move. In general, when rates fall, higher-duration bonds experience a greater increase in value compared to those with lower duration. Long-duration bets typically involve buying assets on the back end of the curve on expectations of a decline in yields. "There's a reason long rates (30-year Treasuries) are moving toward 5%, and that is because there's significant pressure in selling duration," said Neil Aggarwal, head of securitized products and portfolio manager at Reams Asset Management in Indianapolis. "There are near-term concerns about volatility and from a short-term basis if you expect volatility to persist, it's difficult being long duration." Thirty-year bond auctions were not well-received during the Treasury sales in April and May, amplifying the market's reticence about holding longer-dated debt. The long bond did see strong demand at last week's auction, helped in part by the rise in 30-year yields and easing volatility in the sector. Positioning based on the latest J.P. Morgan Treasury Client Survey and active core bond fund indexes also suggested that long-duration positions have declined over the past two months. Analysts said part of that move could be attributed to diminished expectations of a U.S. recession, which briefly increased in April following Trump's imposition of tariffs on imported products from around the world. Trump has since walked back most of the tariffs even as the U.S. and China affirmed a trade deal. Goldman Sachs, for instance, last week trimmed its view of the probability of a U.S. recession in the next 12 months to 30% from 35% on easing uncertainty around Trump's tariff policies. Trump's "One Big Beautiful Bill Act," which passed the U.S. House of Representatives and is being debated in the Senate, is likely to increase the deficit by $2.4 trillion over the next decade, Congressional Budget Office estimates showed, coming at a time when the U.S. debt as a share of gross domestic product has surged. Tariff revenue, however, should offset some of the deficit impact of the tax and spending bill, analysts said. The prospect of even bigger deficits has added to concerns about the back end of the curve. "There is a legitimate argument to expect steeper government curves in this cycle," said Danny Zaid, portfolio manager at TwentyFour Asset Management in New York. Yield curve "steepeners" have been a popular trade since the Fed embarked on its easing cycle in late 2024. The strategy involves bullish bets on short-dated Treasuries, while reducing longer-dated exposure, which pushes yields on longer-dated Treasuries higher than short-term maturities. "As investors, you should demand more compensation to fund a government that has a 120% debt-to-GDP ratio than a government that has 70% debt to GDP," Zaid said. Investors are compensated with a higher yield for taking risk over a longer period. "We think the curve can steepen some more," said Brendan Murphy, head of fixed income for North America at Insight Investment in Boston, referring to the five- to 30-year yield curve. "We are overweight duration but concentrated more on the front end relative to the back end and more cautious about that 30-year part of the curve primarily due to uncertainty around the fiscal expansion and the potential for inflation to pick up due to some of this tariff policy." Investors on Wednesday will also focus on the release of updated quarterly economic projections from Fed policymakers, including rate forecasts, which are issued in a chart known as the "dot plot" that reflects how much easing is expected. The "dots" from the March meeting showed a policy rate of 3.75%-4.00% by the end of 2025, or two quarter-percentage-point cuts. Bond investors do not expect any changes to the Fed's policy rate forecast.
