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Amundi launches S&P 500 equal weight ESG ETF

The French asset manager is aiming to double its ESG ETF range by 2025

Theo Andrew

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Amundi has expanded its ESG range with the launch of an equally weighted S&P 500 ESG ETF.

The Amundi S&P 500 Equal Weight ESG Leaders UCITS ETF (WELE) is listed on the Deutsche Boerse with a total expense ratio (TER) of 0.18%.

WELE tracks the S&P 500 Equal Weight ESG Leaders index which offers exposure to the largest companies in the US that meet sustainability criteria with equal weighting.

The index uses a “best-in-class approach” selecting companies with the highest S&P Dow Jones Indices ESG score while excluding those involved in Arctic gas and oil exploration, alcohol, cannabis, controversial weapons, gambling, nuclear power, oil and gas, thermal coal and weapons.

WELE, which has $121m assets under management (AUM), is classified as Article 8 under the Sustainable Finance and Disclosure Regulation (SFDR).

It is the latest ESG ETF launched by Amundi which continues to build out its sustainable offering.

In March, the French asset manager revealed plans to shift over €13bn of assets to track Paris Aligned Benchmarks (PAB) and Climate Transition Benchmark (CTB) indices.

Amundi announced in January that it would aim to double the proportion of responsible ETFs available to investors, reaching 40% of the total ETF range by 2025.

The plans were outlined ahead of the €825m acquisition of Lyxor which completed in January.

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