What Would Jesus Invest In?
Religious funds, a subset of socially responsible mutual funds that invest in accordance with the tenants of a particular faith, are gaining in popularity. Here's a rundown of prominent religious funds, courtesy of Morningstar:
Catholic Funds
- Ave Maria Catholic Values (AVEMX)
- Ave Maria Bond (AVEHX)
- Ave Maria Growth (AVEGX)
- Ave Maria Rising Dividend (AVEDX)
- Ave Maria Opportunity (AVESX)
- LKCM Aquinas Growth (AQEGX)
- LKCM Aquinas Value (AQEIX)
- LKCM Aquinas Small Cap (AQBLX)
- LKCM Aquinas Fixed Income (AQFIX)
Protestant Funds
- New Covenant Growth (NCGFX)
- New Covenant Income (NCICX)
- Balanced Growth (NCBGX)
- Balanced Income (NCBIX)
- Domini Social Equity (DSEFX)
- MMA Praxis Core Stock (MMPGX)
- MMA Praxis Value Index (MVIAX)
- MMA Praxis International (MMPNX)
- MMA Praxis Intermediate Income (MMPIX)
- Timothy Plan Large/Mid-Cap Value (TLVAX)
Islamic Funds
- Amana Trust Growth (AMAGX)
- Amana Income (AMANX)
- Azzad Ethical Mid Cap (ADJEX)
- Azzad Ethical Income (AEIFX)
- Dow Jones Islamic Fund (IMANX)
While investing in the religious funds listed in the article might expedite your entry into the hereafter, don't count on them to produce heavenly returns; as a group these funds have a MAXrating of just 39. As the article points out, one of the biggest negatives associated with these funds is their cost. Almost all have above-average expense ratios compared to their secular peers.
Protestant Funds should included the six Steward funds: http://www.stewardmutualfunds.com/
Domini Social Equity (DSEFX) has no religious ties and should not be on the list.
-Brad H