An Oklahoma City advisory firm today launched three faith-based exchange-traded funds based on indexes created by FTSE Group and KLD Indexes.

FaithShares Advisors LLC announced that its FaithShares Trust launched three ETFs to meet the needs of Christian investors: FaithShares Catholic Values Fund (FCV), FaithShares Methodist Values Fund (FMV) and FaithShares Christian Values Fund (FOC). FaithShares says it plans to launch two more ETFs, also based on FTSE and KLD indexes, on December 15. They are FaithShares Baptist Values Fund (FXB) and FaithShares Lutheran Values Fund (FKL).

"We created these funds to meet the needs of investors who want to participate in the potential of the stock market, yet be good stewards of their money," said Thompson S. Phillips Jr., President of FaithShares. "As an ETF, each of our funds will include 100 stocks of large, well-known companies but specifically exclude those considered to be 'objectionable industries' by a specific denomination. Our funds are the first Christian ETFs in the market."

The portfolios will be screened to exclude companies that benefit from gambling, alcohol, tobacco, pornography, weaponry and other activities that are included in each denomination's published criteria.

"We did a great deal of research on the covenants of the various denominations in designing these funds," said Garrett Stevens, CEO and portfolio manager. "The Christian Values Fund is the most conservative and we feel it answers the needs of nondenominational church members and other denominations not specifically represented by our other ETFs."

Annually, FaithShares Advisors, the management company of FaithShares, will give a minimum of 10% of its net income to a ministry associated with the respective denominations.