Six-year anniversary of the SSGA Gender Diversity Index ETF
Happy 6th birthday to the SSGA Gender Diversity Index ETF (symbol: SHE):
Seeks to provide exposure to US companies that demonstrate greater gender diversity within senior leadership than other firms in their sector
Companies in the Index are ranked within each sector by three gender diversity ratios
The Index seeks to minimize variations in sector weights compared to the composition of the index’s broader investment universe by focusing on companies with the highest levels within their sectors of senior leadership gender diversity
There are nearly 200 holdings in the fund out of the roughly 3,500 significant publicly traded U.S. companies (Wilshire 5000, in which 3,500 is the new 5,000). In other words, roughly 5 percent of U.S. public companies do things the correct (gender diverse) way.
To celebrate Dr. Marissa Mayer‘s brave stewardship of Yahoo! (history, which included 30 days of daily new logos in 2013) we should get a custom chart comparing SHE to the Wilshire 5000 over the past 6 years from Yahoo! Finance.
The stocks of companies that failed to enter the gender diversity Olympics were up by roughly 107 percent in nominal dollars (but don’t forget that inflation eroded these gains; a house in our Florida neighborhood has gone up in price by much more than 107 percent in the same period and even the government’s cooked CPI number is up roughly 20 percent). Stocks of companies with people identifying as “not men” in leadership positions were up by 44 percent.
Related:
- Mediocre: The Dangerous Legacy of White Male America by Ijeoma Oluo (this was prominently featured in the Boulder, Colorado bookstore)
- “Research: Women Score Higher Than Men in Most Leadership Skills” (Harvard Business Review, 2019): … women scored at a statistically significantly higher level than men on the vast majority of leadership competencies we measured.
- “More women in the boardroom could drive higher credit ratings and stock returns for firms — they still hold just 29% of seats” (CNBC, March 11, 2022) says that 107 percent is actually lower than 44 percent. “Anecdotally, the stocks of companies with low female board representation have underperformed.”
















