Mr. Perkins needs a financial education, starting with the SEC EDGAR database.
2nd Vote seems a tad hypocritical.
Please bear with me. This gets a bit complicated but you will get it.
Thursday, according to hate group leader Tony Perkins of Family Research Council: Let’s Start Putting Our Money Where Our Faith Is. According to Perkins:
On “Washington Watch,” 2nd Vote CEO Dan Grant joined me to discuss how his organization has launched a new initiative to give consumers a direct say in where their money is going.
Grant went on to describe how 2nd Vote has created an asset management company that offers publicly traded ETFs (Exchange Traded Fund) that can be invested in that support life, religious freedom, the 2nd Amendment, and more. “ETFs are just like mutual funds,” he explained. “You can buy them like any stock. So if you have a broker, you can call your broker. If you have a self-directed account or if you’re on an open platform, if you’re on E-Trade, you would just type in our ticker symbol. So LYFE is one, EGIS is another security … You could spend as little as $100 to buy one of these securities and support what we’re doing.”
“2nd Vote proves that prudent investing requires purchasing the shares of liberal leaning corporations.”
The first of these is that the asset management company, 2nd Vote Value Investments, Inc., is not part of 2nd Vote. Rather it is a for-profit Delaware corporation owned by, … Daniel Grant. The company receives a percentage of the average daily investment value.
Secondly, the fund’s investments are not what Grant claims.
I reviewed the portfolios of both LYFE and EGIS. As you can see there is a third fund, LIBE (2ndVote Founding Freedoms ETF) which is inactive.
As of May 30, the largest (value as a percentage of the total) investment by LYFE (2ndVote Life Neutral Plus) was Chipotle Mexican Grill Inc. There are two problems with that:
The first is that 2nd Vote scores Chipotle 2.33 on a scale of 1 to 5, 1-2 is liberal. 2-3 is leaning liberal. Chipotle is a a liberal-leaning corporation according to 2nd Vote:
“Indeed, the portfolios of both funds do not seem to include any company deemed conservative.”
Secondly, Chipotle has an HRC Corporate Equality Index score of 100. That requires things like “Equal health coverage for transgender individuals without exclusions for medically necessary care.”
Next, I reviewed EGIS (2ndVote Society Defended ETF). Its largest investment as of May 30 was in shares of Texas Instruments. Texas Instruments is also a liberal-leaning corporation according to 2nd Vote:
Texas Instruments has the same liberal-leaning score as Chipotle; 2.33. It too has a perfect score in the Human Rights Campaign Corporate Equality Index.
Included in the HRC criteria is also this:
Supervisors undergo training that includes gender identity and sexual orientation as discrete topics (may be part of a broader training), and provides definitions or scenarios illustrating the policy for each.
“Year to date, LYFE returned about 17%; EGIS about 20%.”
2nd Vote does not like that:
Indeed, the portfolios of both funds do not seem to include any company deemed conservative. 2nd Vote proves that prudent investing requires purchasing the shares of liberal leaning corporations.
Why do a call this a scam? Two reasons:
First, the intended inference is that 2nd Vote manages these funds. That is incorrect. The funds are managed by a for-profit company that just happens to have 2nd Vote in its name. Moreover, there is a huge conflict of interest given that Mr. Grant is the CEO of 2nd Vote.
Secondly, these funds are not investing in the manner that Daniel Grant claims. Grant is misleading investors. Both funds seem to be decent performers but there are far better. iShares S&P Small-Cap 600 Value ETF, for example, has a one year return rate of 77%.
Year to date, LYFE returned about 17%; EGIS about 20%. That’s not an annual return because the funds started trading last fall.
Questions? Feel free to contact me.