Dorsey Wright's Ranking of Socially Responsible Funds and ETFs
Includes Funds and ETFs with assets over $100 million

Spotlight - Ariel Fund Investor Class (ARGFX)

So far in 2014, the Ariel Fund Investor Class (ARGFX) continues to show the best score for the SRI genre with a score of 5.54.  Other diversified funds with outstanding scores are Ave Maria Growth (AVEGX) and the Parnassus Equity Income Fund (PRILX).  This collection of funds demonstrates the relative leadership in US equity versus other asset classes, such as Fixed Income.  Over the past month, we have witnessed a focused sector fund climb up the relative strength ladder and that one is the PowerShares WilderHill Clean Energy (PBW), which has improved 2 points in Fund Score to achieve a score of 5.23 at this point in the 1st quarter.  On the International landscape, the leader is the Domini International Social Equity Fund (DOMAX). This fund is scoring at a 4.11, which is above the average score of any type of International fund at 2.63.  Although the International group is weak, DOMAX is relatively strong and gives you leadership as this group matures in 2014.  On the Fixed Income landscape, the scores above the 3 line are filling in with four funds that should grab your attention.  They are the Pax World High Yield Bond Fund (PAXHX), Calvert Short Duration Income (CSDAX), Ave Maria Bond Fund (AVEFX) and the Calvert Ultra-Short Income Fund (CULAX).  This mix shows the favor of shorter duration income strategies plus the importance of incorporating high yield into the Fixed Income allocation strategy.  The top scores are still high yield at this point, as it is an area that closely correlates to the equity markets.


High Strength, Low Risk
Fund Score > 3, Below average volatility
    Name DWA Fund Score DWA rRisk Score  
  Equity Funds And ETFs      
    Parnassus Equity Income Fund Class Institutio (PRILX) 4.66 0.87  
    Ave Maria Rising Dividend Fund (AVEDX) 4.50 0.95  
    iShares FTSE KLD 400 Social Idx Fd (ETF): NYS - DSI 3.53 0.99  
    Calvert Large Cap Core Portfolio Class A (CMIFX) 3.38 0.91  
    Legg Mason Investment Counsel Social Awarenes (SSIAX) 3.24 0.74  
    Calvert Moderate Allocation Fund Class A (CMAAX) 3.11 0.72  
    Calvert Balanced Portfolio Class A (CSIFX) 3.08 0.60  
  Bond Funds      
    Pax World High Yield Bond Fund Individual Inv (PAXHX) 3.52 0.40  
    Calvert Short Duration Income Fund Class A (CSDAX) 3.35 0.16  
    Ave Maria Bond Fund (AVEFX) 3.30 0.20  
    Calvert Ultra-Short Income Fund Class A (CULAX) 3.12 0.06  


High Strength, High Risk
Fund Score > 3, Above average volatility
    Name DWA Fund Score DWA rRisk Score  
  Equity Funds and ETFs      
    Ariel Fund Investor Class (ARGFX) 5.54 1.64  
    PowerShares WilderHill Clean Energy(ETF): NYS - PBW 5.23 2.51  
    Ave Maria Growth Fund (AVEGX) 4.93 1.15  
    Global X Funds: NASDAQ - SOCL 4.64 1.96  
    Neuberger Berman Socially Responsive Fund Inv (NBSRX) 4.36 1.09  
    Parnassus Workplace Fund (PARWX) 4.25 1.16  
    Parnassus Mid Cap Fund (PARMX) 4.12 1.09  
    Domini International Social Equity Fund Class (DOMAX) 4.11 1.39  
    Calvert Small Cap Fund Class A (CCVAX) 4.10 1.33  
    Parnassus Fund (PARNX) 3.78 1.47  
    Calvert Global Water Fund Class A (CFWAX) 3.76 1.20  
    Calvert Social Index Fund Class I (CISIX) 3.69 1.02  
    Calvert Capital Accumulation Fund Class A (CCAFX) 3.69 1.40  
    VALIC Company II Socially Responsible Fund (VCSRX) 3.58 1.04  
    DFA U.S. Social Core Equity 2 (DFUEX) 3.58 1.26  
    TIAA-CREF Social Choice Equity Fund Instituti (TISCX)
3.53 1.06  
    Calvert Equity Portfolio Class A (CSIEX) 3.53 1.07  
    VALIC Company I Global Social Awareness Fund (VCSOX) 3.49 1.15  
    Domini Social Equity Fund Investor Class (DSEFX) 3.49 1.09  
    Vanguard FTSE Social Index Fund Institutional (VFTNX) 3.42 1.06  
    Pax World Growth Fund Individual Investor Cla (PXWGX) 3.33 1.20  
    Ave Maria Catholic Values Fund (AVEMX) 3.29 1.19  
    Walden Equity Fund (WSEFX) 3.24 1.00  
    iShares MSCI USA ESG Select Scl Indx Fnd: NYS - KLD 3.21 1.01  
    Parnassus Small Cap Fund (PARSX) 3.00 1.50  


Low Strength, Low Risk
Fund Score < 3, Below average volatility
    Name DWA Fund Score DWA rRisk Score  
  Equity Funds and ETFs      
    DFA International Social Core Equity Portfoli (DSCLX) 2.94 0.94  
    Pax World Balanced Individual Investor Class (PAXWX) 2.83 0.88  
    Appleseed Fund (APPLX) 2.47 0.95  
  Bond Funds      
    Calvert Income Fund Class A (CFICX) 2.98 0.31  
    Calvert Long-Term Income Fund Class A (CLDAX) 2.83 0.51  
    Calvert Tax-Free Bond Fund Class A (CTTLX) 2.79 0.41  
    Calvert Bond Portfolio Class A (CSIBX) 2.77 0.29  
    Parnassus Fixed Income Fund (PRFIX) 2.15 0.25  
    Domini Social Bond Fund Investor Class (DSBFX) 2.07 0.18  


Low Strength, High Risk
Fund Score < 3, Above average volatility
    Name DWA Fund Score DWA rRisk Score  
  Calvert International Equity Fund Class A (CWVGX) 2.92 1.26  
  DFA CSTG&E International Social Core Equity P (DFCCX) 2.85 1.22  
  DFA Emerging Markets Social Core Portfolio (DFESX) 2.14 1.69  



DWA Fund Score:    The DWA Fund score ranks the technical strength on a scale of 0 through 6 using an equation based on price trending and relative strength.  Funds with scores above 3 are considered by Dorsey Wright to be “investment grade”.   Funds with scores close to 6 are “market dominant."

  DWA rRisk Score:     The DWA rRisk score measures the risk of the group on a relative basis. The calculation uses the 3 year Standard Deviation average of the group or fund divided by the Standard Deviation of the Cap Weighted S&P 500 Equity Index. Ratios higher than 1 demonstrate higher risk than the market benchmark and ratios less than 1 demonstrate lower risk than the market benchmark.

Disclosures: The information contained herein has been prepared without regard to any particular investor’s investment objectives, financial situation, and needs.  Accordingly, investors should not act on any recommendation (express or implied) or information in this material without obtaining specific advice from their financial advisors and should not rely on information herein as the primary basis for their investment decisions.  Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources believed to be reliable (“information providers”).  However, such information has not been verified by Dorsey, Wright & Associates, LLC (DWA) or the information provider and DWA and the information providers make no representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein.  DWA and the information provider accept no liability to the recipient whatsoever whether in contract, in tort, for negligence, or otherwise for any direct, indirect, consequential, or special loss of any kind arising out of the use of this document or its contents or of the recipient relying on any such recommendation or information (except insofar as any statutory liability cannot be excluded).  Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.  Neither the information nor any opinion expressed shall constitute an offer to sell or a solicitation or an offer to buy any securities, commodities or exchange traded products.  This document does not purport to be complete description of the securities or commodities, markets or developments to which reference is made.

Past performance is not indicative of future results.  Potential for profits is accompanied by possibility of loss.    You should consider this strategy’s investment objectives, risks, charges and expenses before investing.  The examples and information presented do not take into consideration commissions, tax implications, or other transaction costs.

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