The Ellevest Digital or Premium Impact Portfolios have de minimis exposure to U.S. gun manufacturers. We define de minimis as being less than 0.25% (or ¼ of 1%) of assets in an investment portfolio. As of February 28, 2018, the maximum exposure in any Ellevest portfolio was 0.0083% (or 83 cents for every $10,000 invested). Because we do not manage the underlying ETFs in our investment portfolios, we cannot guarantee that this exposure will remain stable. Market fluctuations of your portfolio may also cause your exposure to guns to increase or decrease. We will endeavor to monitor this and communicate with you if the exposure is no longer de minimis.
As a fiduciary, our first obligation is to you; and that means thus building well-diversified investment portfolios to help you achieve your financial goals. The primary building blocks for our portfolios are ETFs managed by third-party asset managers. Because impact investing is still relatively new, there are very few guns-free ETFs that meet our high fiduciary standards today. As the industry matures, we will continue to evaluate additional options.