Invest Your Values data is based on monthly updates to mutual fund holdings.
Nov 11, 2020
November 2020 dataset. Screen list and fund results updates: Fossil Free Funds "Carbon Underground 200" screen updated to use latest Fossil Free Indexes data (2020 Q3). "Sustainability Mandate" label updated to use new Morningstar sustainable investment taxonomy.
Oct 18, 2020
October 2020 dataset.
Sep 28, 2020
September 2020 dataset. Screen list and fund results updates: Gender Equality Funds updated to use latest Equileap company data, covering 19 criteria and four sub-scores.
Sep 13, 2020
September 2020 dataset. Screen list updates: Tobacco Free Funds "Tobacco-promoting entertainment companies" screen updated to use latest UCSF Smoke Free Movies Campaign data.
Aug 11, 2020
August 2020 dataset. Screen list updates: Prison Free Funds screens added. Tobacco Free Funds "Tobacco producers" screen updated to use latest Morningstar industry data.
Jul 16, 2020
July 2020 dataset. Screen list updates: Fossil Free Funds "Carbon Underground 200" screen updated to use latest Fossil Free Indexes data (2020 Q2). Fossil Free Funds "Macroclimate 30" screen updated to use latest Macroclimate data (2020).
Jun 10, 2020
June 2020 dataset.
May 19, 2020
May 2020 dataset. Screen list updates: Fossil Free Funds "Carbon Underground 200" screen updated to use latest Fossil Free Indexes data (2020 Q1).
Apr 14, 2020
April 2020 dataset. Screen list updates: Weapon Free Funds "Major Military Contractors" screen updated to use latest SIPRI Arms Industry Database (2018).
Finding a fund
Weapon Free Funds sources financial data on equities and mutual funds from Morningstar. Our database contains information on thousands of U.S. open-end and exchange traded mutual funds, some of the most common funds held in 401(k)s, 403(b)s, and other retirement plans.
Search for mutual funds using name, ticker symbol, or asset manager. Use the search page to filter funds by investing style, fund family, and more. When you find a fund you're looking for, click on it to see the full results.
We don't have everything in our database — we only screen mutual funds that own direct stock investments, and can only display up to 3,000. Looking for your favorite fund and can’t find it? With more resources, we could include more funds — make a gift today to make a difference.
Screening a fund
For each mutual fund in our database, we examine every holding and determine if it is a stock issued by a weapon company.
We only look for direct stock holdings in weapon companies. That means that holdings that are not stocks, like cash holdings or bonds, are not rated. In the fund's investment profile, we show a "Percent Rated" metric, equivalent to the percent of the fund that is invested in stocks. The higher a fund’s Percent Rated value, the more holdings we were able to examine. A fund with a lower Percent Rated value may have hidden weapon-related investments that our tool cannot account for, in the form of bond holdings or other asset types.
If a fund holds stock in a weapon company
Our analysis checks funds for direct stock investments in two types of weapon companies: military weapons, and civilian firearms.
Within these two types of weapon companies, we divide companies into five separate weapon categories (with some companies belonging to more than one category):
- Military weapons:
- Major military contractors
- Cluster munitition and landmine manufacturers
- Nuclear weapon manufacturers and servicers
- Civilian firearms:
- Civilian firearm manufacturers
- Civilian firearm retailers
You can adjust your screen settings to change how the data is displayed for you. The default screen grouping is "All weapons", which covers all five categories across both military weapons and civilian firearms. You can also choose to screen for just investments in the companies from the military weapons categories, or just the civilian firearms categories.
More details on each screen, including the full lists of companies flagged and the source of the company research, are available below:
We calculate the fund's weapon grade
UPDATE: As of August 2019, we've updated the labels for our weapon grades from "low risk / medium risk / high risk" to letter grades of "A / B / F". The grade is still calculated the same way. Read on to learn how we grade funds on weapon investments.
Mutual funds can have a varying number of holdings, from less than one hundred to several thousand. We calculate the total number of flagged holdings in the fund, and the total amount and percentage of the fund’s assets that are invested in those companies.
Based on what companies a fund invests in, for each of the three screen groupings (military weapons, civilian firearms, and both military and civilian weapons combined), the fund can earn one of three weapon grades for each screen group:
If a fund has a weapon grade of A and does not have direct stock investments in any of the weapon companies we screen for, you'll see a chart like this:
However, if a fund doeshave direct stock investments in any of the weapon companies we screen for, you'll see a chart like this, showing the overall exposure.
Next to the chart, you'll see the exposure breakdown for each of the five weapon categories.
If you click a category that a fund has exposure to, you'll see the chart change to a breakdown of the individual companies in that category that the fund owns.
You'll also see each investment for that weapon category listed below.
We track socially responsible funds
We use Morningstar's "socially responsible fund" indicator to determine which funds are displayed as socially responsible. Socially responsible funds make investment decisions based on issues like environmental responsibility, human rights, or religious views. A socially responsible fund may take a proactive stance by selectively investing in, for example, environmentally-friendly companies, or firms with good employee relations. They may also avoid investing in companies involved in promoting alcohol, tobacco, or firearms, or in the defense industry. Look for this symbol to find funds that are designated socially responsible.
The Forum for Sustainable and Responsible Investment is a group advancing sustainable, responsible, and impact investing. Asset managers who are members of US-SIF often have policies to exclude or restrict investments in companies involved in the production, licensing, and/or retailing of weapons. Look for this symbol to find funds that are members of US-SIF.
Weapon free action toolkit
When you're done looking up funds and finding the data you need, what's next? You can learn how to make a change and move your money with our weapon free action toolkit. Whether you’re an individual investor or if your investments are in your employer-sponsored plan at work, our step-by-step toolkit can help. There's an in-depth guide to responsible investing, links to external resources, a sample letter to send to your employer 401(k) manager, and more — everything you need to make a change and get started investing your money weapon free.