Dorsey Wright's Ranking Of
Socially Responsible Funds And ETFs

Recent market turbulence has led to some shifts in the fund scores over the month. The top two scores in the socially responsible investing (SRI) universe are for the Ariel Fund Investor Class (ARGFX) and the Pax World Small Cap Fund Individual Investor (PXSCX). The Ariel fund has been a strong contender all year, and even after the recent market pullback, ARGFX continues to exhibit score leadership as we begin to move into the seasonally strong period of the annual market cycle. 

What is interesting here is that while the average mid-cap and small-cap funds have moved down in fund score, the Ariel Investor as well as the Pax World Small Cap Fund Individual Investor (PXSCX) have moved up in ranking in the SRI equity universe.

International funds have suffered during the recent round of market turbulence, as scores in this area have fallen below 2.50.  The U.S. focused portfolios are the better choice, heading into November. The fixed-Income universe remains viable this quarter with leadership in the tax-free segment from funds such as the Calvert Tax-Free Bond Fund (CTTLX). The next best score here is for the Calvert Bond Portfolio (CSIBX), a good Intermediate duration choice.  Having quality fixed income in your portfolio makes the overall allocation more resilient when volatility increases in equity universe.

Our October ranking below includes SRI funds and ETFs with assets of more than $100 million.
 

High Strength, Low Risk
Fund Score > 3, Below average volatility
           
    Name DWA Fund Score DWA rRisk Score  
  Equity Funds And ETFs      
    Parnassus Core Equity Fund (PRILX) 4.69 0.94  
    Ave Maria Rising Dividend Fund (AVEDX) 4.13 0.94  
    Legg Mason Investment Counsel Social Awarenes (SSIAX) 3.60 0.75  
    Calvert Balanced Portfolio Class A (CSIFX) 3.56 0.64  
    Calvert Conservative Allocation Fund Class A (CCLAX) 3.36 0.48  
    Pax World Balanced Individual Investor Class (PAXWX) 3.35 0.82  
    TIAA-CREF Social Choice Bond Fund Retail Clas (TSBRX) 3.22 0.35  
    Calvert Moderate Allocation Fund Class A (CMAAX) 3.11 0.78  
  Bond Funds      
    Calvert Tax-Free Bond Fund Class A (CTTLX) 3.50 0.53  
    Calvert Bond Portfolio Class A (CSIBX) 3.24 0.38  
    Calvert Income Fund Class A (CFICX) 3.09 0.40  
           

 

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) 5.31 1.53  
    Pax World Small Cap Fund Individual Investor Cla (PXSCX) 5.04 1.08  
    Parnassus Endeavor Fund (PARWX) 4.66 1.08  
    Pax World Growth Fund Individual Investor Cla (PXWGX) 4.54 1.16  
    Neuberger Berman Socially Responsive Fund Inv (NBSRX) 4.25 1.13  
    Parnassus Mid Cap Fund (PARMX) 4.22 1.04  
    Calvert Large Cap Value Fund Class A (CLVAX) 3.87 1.05  
    VALIC Company II Socially Responsible Fund (VCSRX) 3.80 1.02  
    Domini Social Equity Fund Investor Class (DSEFX) 3.77 1.18  
    Calvert Large Cap Core Portfolio Class A (CMIFX) 3.71 1.01  
    Vanguard FTSE Social Index Fund Institutional (VFTNX) 3.70 1.11  
    Calvert Equity Portfolio Class A (CSIEX) 3.67 1.13  
    Calvert Social Index Fund Class I (CISIX) 3.55 1.07  
    Parnassus Fund (PARNX) 3.44 1.46  
    TIAA-CREF Social Choice Equity Fund Instituti (TISCX) 3.44 1.06  
    Ave Maria Growth Fund (AVEGX) 3.39 1.16  
    iShares FTSE KLD 400 Social Idx Fd (ETF): NYS - DSI 3.29 1.01  
    Walden Equity Fund (WSEFX) 3.17 1.02  
    iShares MSCI USA ESG Select Scl Indx Fnd: NYS - KLD 3.06 1.03  
    VALIC Company I Global Social Awareness Fund (VCSOX) 3.00 1.17  
           

 

Low Strength, Low Risk
Fund Score < 3, Below average volatility
           
    Name DWA Fund Score DWA rRisk Score  
  Equity Funds And ETFs      
    Calvert Moderate Allocation Fund Class A (CMAAX) 2.99 0.72  
    Appleseed Fund (APPLX)
 
1.97 0.99  
  Bond Funds      
    Domini Social Bond Fund Investor Class (DSBFX) 2.79 0.22  
    Parnassus Fixed Income Fund (PRFIX) 2.78 0.31  
    Ave Maria Bond Fund (AVEFX) 2.75 0.21  
    Calvert Ultra-Short Income Fund Class A (CULAX) 2.25 0.05  
    Calvert High Yield Bond Fund Class A (CYBAX) 1.94 0.46  
    Calvert Short Duration Income Fund Class A (CSDAX) 1.68 0.20  
    Pax World High Yield Bond Fund Individual Inv (PAXHX) 1.36 0.43  
           

 

Low Strength, High Risk
Fund Score < 3, Above average volatility
           
    Name DWA Fund Score DWA rRisk Score  
  DFA U.S. Social Core Equity 2 (DFUEX) 2.88 1.19  
  Calvert Capital Accumulation Fund Class A (CCAFX) 2.88 1.28  
  City National Rochdale Socially Responsible E (AHSRX) 2.71 1.00  
  Calvert Small Cap Fund Class A (CCVAX) 2.22 1.33  
  DFA Emerging Markets Social Core Portfolio (DFESX) 2.22 1.74  
  Calvert Global Water Fund Class A (CFWAX) 2.17 1.42  
  Ave Maria Catholic Values Fund (AVEMX) 1.90 1.24  
  Pax World Global Environmental Markets Fund I (PGINX) 1.80 1.34  
  Parnassus Small Cap Fund (PARSX) 1.75 1.62  
  Calvert International Opportunities Fund Clas (CIOAX) 1.70 1.46  
  Domini International Social Equity Fund Class (DOMAX) 1.69 1.47  
  Calvert International Equity Fund Class A (CWVGX) 1.61 1.32  
  DFA International Social Core Equity Portfoli (DSCLX) 1.45 1.28  
  Domini International Social Equity Fund Class (DOMAX) 1.69 1.47  
  Calvert Global Alternative Energy Fund Class (CGAEX) 1.30 1.88  
  Appleseed Fund (APPLX) 1.23 1.14  
  DFA CSTG&E International Social Core Equity P (DFCCX) 1.21 1.55  
  PowerShares WilderHill Clean Energy(ETF): NYS - PBW 1.13 2.96  
  Pax MSCI International ESG Index Fund Individ (PXINX) 0.18 1.56  

 

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."

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