ETF (UCITS compliant)

L&G US Equity (Responsible Exclusions) UCITS ETF

Fund facts

Fund size*
$1782.3m
Base currency
USD
Listing date
25 Nov 2019
Domicile
Ireland
Index ticker
FXBYSCUS
Replication method
Physical - full replication

Statistics

*As at 27 Sep 2021

Fund aim

L&G US Equity (Responsible Exclusions) UCITS ETF (the “ETF”) aims to track the performance of the Foxberry Sustainability Consensus US Total Return Index (the “Index”).

  • Long-term allocation

Allocating assets into companies with high score on sustainability factors

  • Impact investing

Aims to incentivise companies to improve their sustainability ratings

  • Dynamic investment process

The index consensus process can respond to new sustainability considerations, including sustainability and sector based activities, and have an impact where the data from sustainability research providers are sporadic, erratic, spurious and/or limited

  • Does it promote sustainability characteristics?

The Fund promotes a range of environmental and social characteristics which are met by tracking the Index. Further information on how such characteristics are met by the Fund can be found in the Fund Supplement

Foxberry Sustainability Consensus US Total Return Index

The index aims to track the performance of a basket of companies taking into account environmental, social and corporate governance factors. The asset allocation has a focus on companies with high sustainability factors scores, incentivising them to improve their sustainability ratings.

The index is comprised of companies that are publicly traded on various stock exchanges around the world that obtain high scores on sustainability factors. The index approach uses a consensus process, combining expertise of the Sustainability Committee and unlocking the sustainability expertise among the asset owner community.

The Foxberry Sustainability Committee handles issues around sustainability matters, including: i) environmental issues; ii) governance issues; iii) sustainability issues; iv) UN sustainable development goals; v) ongoing controversies; vi) norms-based standards, which are minimum standards of business practice based on international norms; vii) equality issues; viii) ethical considerations.

Index data

Provider
Foxberry
Bloomberg code
FXBYSCUS
Reuters code
.FXBYSCUS
Type
Net Total Return
Website
www.foxberry.com

Performance

Source: Lipper.

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 31 Aug 2021

    CumulativeFundBenchmark
    1 month3.263.26
    6 months19.2219.19
    Year to date20.7120.71
    3 years--
    5 years--
    Since launch56.4456.26
    AnnualisedFundBenchmark
    1 year30.96-
    3 years--
    5 years--
    Since launch28.8228.73

    As at 30 Jun 2021

    CumulativeFundBenchmark
    Quarterly9.069.05
    Year to date13.9914.01
    3 years--
    5 years--
    Since launch47.7447.58
    AnnualisedFundBenchmark
    1 year41.9841.95
    3 years--
    5 years--
    Since launch27.6827.59
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

    Rolling 12-month performance to last quarter end (%)

    12 months to 30 June 2017 2018 2019 2020 2021
    Fund----41.98
    Benchmark----41.95

    Calendar year performance (%)

    2016 2017 2018 2019 2020
    Fund----25.50
    Benchmark----25.36

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund30.96--28.82
    Benchmark---28.73

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund41.98--27.68
    Benchmark41.95--27.59

    Performance for the USD Accumulating ETF class in USD, listed on 25 November 2019. Source: Lipper. Performance assumes all ETF charges have been taken and that all income generated by the investments, after deduction of tax, remains in the ETF.

    Past performance is not a guide to the future.

    Portfolio

    As at 31 Aug 2021. All data source LGIM unless otherwise stated. Totals may not sum to 100% due to rounding.

    The breakdowns below relate to the Index. The ETF’s portfolio may deviate from the below

    Sector (%)

    Information Technology31.2
    Health Care14.2
    Consumer Discretionary12.8
    Communication Services12.5
    Financials10.3
    Industrials6.8
    Consumer Staples5.2
    Real Estate2.6
    Materials2.3
    Other2.1

    Currency (%)

    USD100.0
    Top 10 constituents29.0
    Rest of Index71.0
    No. of constituents in Index479

    Top 10 constituents (%)

    Apple6.7
    Microsoft6.0
    Amazon4.0
    Facebook2.4
    Alphabet A2.3
    Alphabet C2.2
    Tesla1.5
    Nvidia1.4
    JPMorgan Chase1.3
    Johnson & Johnson1.2

    Country (%)

    United States96.3
    Ireland2.4
    Switzerland0.4
    Jersey0.2
    United Kingdom0.2
    Bermuda0.2
    Luxembourg0.1
    Netherlands0.1
    Panama0.1
    Other0.0

    Sustainability

    Sustainability disclosures

    The Sustainable Finance Disclosure Regulation (SFDR) is an EU regulation that came into force on 10 March 2021, and imposes disclosure requirements for EU financial products. These requirements include disclosing sustainability-related information for funds that (i) promote (among other characteristics) environmental or social characteristics (Article 8 products), or (ii) have a sustainable investment objective (Article 9 products), both as defined under SFDR.

    SFDR categorisation: Article 8Article 8: These funds promote environmental and/or social characteristics

    The Fund promotes a range of environmental and social characteristics as described below. These are met by tracking the Index which applies:

    Stock selection
    Carbon intensity
    Future World Protection List
    Climate Impact Pledge
    Exclusions

    Issuers are excluded from the index on the basis that it tracks a universe determined by the Foxberry Sustainability Committee. The following issuers are excluded from the index:

    • companies engaged in the following sectors:
      • Tobacco
      • Controversial weapons;
    • companies with substantial coal involvement (25%+ of revenues);
    • companies with material stranded assets;
    • the ten companies with the highest CO2 emission intensity in the Underlying Universe; and
    • companies on a black list of stocks determined by the Sustainability Committee in accordance with the guidelines set out in the Sustainability Committee document. The black list of companies is determined by the Foxberry Sustainability Committee based on various sustainability matter, including but not limited to:
      • environmental issues;
      • governance issues;
      • sustainability issues;
      • UN sustainable development goals;
      • ongoing controversies;
      • norms-based standards, which are minimum standards of business practice based on international norms;
      • equality issues; and
      • ethical considerations.

    The Foxberry Sustainability Committee is operated independently of the Index and is made up of stakeholders with sufficient expertise in the sustainability matters listed above.

    Tilting
    Paris-aligned benchmark optimisation
    ESG integration

    The Index Provider, Foxberry Ltd, determines the constituents of the Index. Further information on the index methodology can be found at: https://www.foxberry.com/about/sustainability_committee and https://www.foxberry.com/governance/sustainability_committee/Foxberry_Sustainability_Committee.pdf

    The above information in respect of the Index has been derived by us from methodologies, statements and disclosures of the index provider for purposes of satisfying our disclosure requirements under SFDR. The information is, therefore, not the property of LGIM and is provided “as is” and “as available”. We seek to ensure the information in respect of the Index is up to date, however there is no guarantee or representations made as to the accuracy or completeness of the information at all times. On that basis, and to the maximum extent permitted by law, no liability is accepted by us in respect of this information.

    A description of the extent to which the environmental and social characteristics are met will likely be made available as part of the annual report published in 2022 as required by SFDR. The Fund’s most recent annual report does not include any information pursuant to SFDR.

    Pre-contractual disclosure

    The Fund promotes a range of environmental and social characteristics. The characteristics promoted by the Fund are met by tracking an Index which includes the following features: exclusion of companies with substantial coal involvement, high CO2 emissions intensity and companies on a black list of stocks determined by the Index providers Sustainability Committee (the “Sustainability Committee”) in accordance with the guidelines set out in the Sustainability Committee document. The Index is consistent with the environmental and social characteristics as it excludes such companies as set out in the “Index Description” section below.

    The Manager aims to ensure that the issuers of investments in which the Fund is invested follow good governance practices. This is achieved by 1) setting expectations with the issuers’ management with regard to good governance practices; 2) active engagement with the issuers; 3) utilising its voting rights; and 4) supporting policymakers and legislators to ensure a strong regulatory environment and standards. Active engagement with the issuers is used as a tool to drive progress and influence positive change and is conducted independently and in collaboration with industry peers and broader stakeholders. Engagement activities normally focus on specific material ESG issues and involve formulating an engagement strategy with regard to such issues with the aim to track and review the progress of the issuers during this process. Regular reporting on the outcomes of active engagement can be made available on request or can be found at: www.lgim.com.

    Governance practices

    The ways in which we ensure that investee companies follow good governance practices are set out below.

    Setting expectations

    A number of policies and processes guide the engagement activities, set out the approach to investment stewardship, and outline the expectations of investee companies. The Global Corporate Governance and Responsible Investment Principles set out the approach and expectations with respect to key topics that are essential for an efficient governance framework, and for building a sustainable business model. We expect all companies on a global scale to closely align with our principles which set out the fundamentals of corporate governance. We also take into account market specificities and take a tailored approach to voting on some topics in various markets. Further related policies can be found on the Investment Stewardship section of the LGIM website.

    Active engagement

    Active engagement with the companies is used as a tool to drive progress and influence positive change and is conducted independently and in collaboration with industry peers and broader stakeholders. Engagement activities normally focus on specific material ESG issues and involve formulating an engagement strategy with regard to such issues with the aim to track and review the progress of the issuers during this process.

    Voting

    LGIM apply a common global strategy with respect to the use of voting rights, and setting expectations of investee companies with regards to planning, management and disclosure of sustainability issues. These principles impact on voting decisions, and for certain themes such as climate, gender and racial diversity there are structured voting and engagement processes in place.

    Supporting policymakers and legislators

    LGIM's Investment Stewardship team actively engages with policy makers and legislators to ensure there is strong regulation and standards in regards to governance practices.

    Investment Manager

    GO ETF Solutions LLP is the investment manager for this ETF and is responsible for its day-to-day investment management decisions. The team is highly experienced with respect to all aspects relating to the management of an ETF portfolio, including collateral management, OTC swap trading, adherence to UCITS regulations and counterparty exposure and monitoring.

    Literature

    Further details

    Charges and tax

    TER
    0.12%
    ISA eligible
    Yes
    SIPP eligible
    Yes
    UK Fund Reporting Status
    Yes

    Management / administration

    Issuer
    Legal & General UCITS ETF Plc
    Depositary and Trustee
    The Bank of New York Mellon SA/NV, Dublin Branch
    Securities regulator
    Central Bank of Ireland

    Country registration

    This share class is registered for sale in the following countries:

    Listings

    Details
    Codes
    ExchangeCurrencyTickerListing dateISINBloomberg codeReuters codeTrading hours (local)
    London Stock ExchangeGBPRIUG10/12/2019IE00BKLWY790RIUG LNRIUG.L08:00 - 16:30
    London Stock ExchangeUSDRIUS10/12/2019IE00BKLWY790RIUS LNRIUS.L08:00 - 16:30
    Borsa ItalianaEURRIUS27/01/2020IE00BKLWY790RIUS IMRIUS.MI09:00 - 17:30
    Deutsche BörseEURDELG27/01/2020IE00BKLWY790DELG GYDEL1.DE09:00 - 17:30

    Key risks

    The value of an investment and any income taken from it is not guaranteed and can go down as well as up. You may not get back the amount you originally invested.

    Past performance is not a guide to the future.

    For more information, please refer to the key investor information document.

    Important information

    In the United Kingdom and outside the European Economic Area, it is issued by Legal & General Investment Management Limited, authorised and regulated by the Financial Conduct Authority, No. 119272. Registered in England and Wales No. 02091894 with registered office at One Coleman Street, London, EC2R 5AA.

    In the European Economic Area, it is issued by LGIM Managers (Europe) Limited, authorised by the Central Bank of Ireland as a UCITS management company (pursuant to European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (S.I. No. 352 of 2011), as amended) and as an alternative investment fund manager with “top up” permissions which enable the firm to carry out certain additional MiFID investment services (pursuant to the European Union (Alternative Investment Fund Managers) Regulations 2013 (S.I. No. 257 of 2013), as amended). Registered in Ireland with the Companies Registration Office (No. 609677). Registered Office: 70 Sir John Rogerson’s Quay, Dublin, 2, Ireland. Regulated by the Central Bank of Ireland (No. C173733).

    LGIM Managers (Europe) Limited operates a branch network in the European Economic Area, which is subject to supervision by the Central Bank of Ireland. In Italy, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Commissione Nazionale per le società e la Borsa (“CONSOB”) and is registered with Banca d’Italia (no. 23978.0) with registered office at Via Uberto Visconti di Modrone, 15, 20122 Milan, (Companies’ Register no. MI - 2557936). In Germany, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the German Federal Financial Supervisory Authority (“BaFin”). In the Netherlands, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Dutch Authority for the Financial Markets (“AFM“) and it is included in the register held by the AFM and registered with the trade register of the Chamber of Commerce under number 74481231. Details about the full extent of our relevant authorisations and permissions are available from us upon request.

    We are a member of the Irish Funds Association.

    All features described on this website are those current at the time of publication and may be changed in the future. Nothing on this website should be construed as advice and it is therefore not a recommendation to buy or sell securities. If in doubt about the suitability of this product, you should seek professional advice. Copies of the prospectus, key investor information document, annual and semi-annual reports & accounts are available free of charge on request or at www.lgimetf.com.

    This website is only directed at investors resident in jurisdictions where our funds are registered for sale. It is not an offer or invitation to persons outside of those jurisdictions. We reserve the right to reject any applications from outside of such jurisdictions.

    Source and third party data

    Source: Unless otherwise indicated all data contained on this website is sourced from Legal & General Investment Management Limited.

    Where this document contains third party data ('Third Party Data’), we cannot guarantee the accuracy, completeness or reliability of such Third Party Data and accept no responsibility or liability whatsoever in respect of such Third Party Data

    Index disclaimer

    The L&G US Equity (Responsible Exclusions) UCITS ETF (the “ETF”) is not sponsored, promoted, sold or supported in any other manner by Foxberry Limited or Solactive AG (the “Index Parties”), nor do the Index Parties offer any express or implicit guarantee or assurance either with regard to the results of using the Foxberry Sustainability Consensus US Total Return Index (the “Index”) and/or Index trademark or the Index price at any time or in any other respect. The Index is calculated and published by Solactive AG. The Index Parties use their best efforts to ensure that the Index is calculated correctly. Irrespective of their obligations towards the Company, the Index Parties have no obligation to point out errors in the Index to third parties including but not limited to investors and/or financial intermediaries of the ETF. Neither publication of the Index by Solactive AG nor the licensing of the Index or Index trademark by Foxberry Limited for the purpose of use in connection with the ETF constitutes a recommendation by the Index Parties to invest capital in the ETF nor does it in any way represent an assurance or opinion of the Index Parties with regard to any investment in the ETF.

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