The fund follows an active strategy that selects undervalued stocks centered on U.S. large-cap value companies, while reflecting the manager's impact and responsible investing criteria in the stock selection process. It pursues a value style and a sustainability perspective together.

It is suited to long-term investors who want to diversify across U.S. large-cap value stocks while also taking faith-based responsible investing principles into account.

It is an ETF run with an active (actively managed) approach by Praxis.

The fund selects undervalued U.S. large-cap stocks to secure value-style exposure, and applies the manager's responsible investing and impact criteria to stock review, excluding or overweighting certain business areas. Rather than purely tracking an index, it is an active structure that reflects the management team's discretion.

• Combines a value style with impact screening
• Active management that reflects the management team's discretion

Assets under management (AUM) stand at $96.2M, and the expense ratio is 0.36% per year.

Its fee is somewhat higher than that of purely passive value ETFs such as VTV and IWD shown in the table, but responsible investing screening is its point of differentiation.

The value style has shown a pattern in which its performance relative to growth stocks diverges depending on interest rates and the economic cycle. With impact screening added, the fund may trace a somewhat different path from pure value indexes.

Investor interest tends to rise when demand for responsible investing and a preference for value stocks coincide. However, because the fund belongs to a relatively small category, fund flows may be volatile.

Its strength is that it combines value exposure with responsible investing principles, while its weakness is that, given the nature of an active structure, its fee is somewhat higher than passive funds.

The three funds shown in the table, VTV, IWD, and IVE, are lower-cost passive alternatives that track the same U.S. large-cap value category, and SPYV is a similar option that also provides S&P 500 value exposure. To broaden exposure to small-cap value, products such as VBR can also be considered. Unlike these funds, this product is an active structure that combines responsible investing and impact screening, and that is the key selection criterion.

These are the points to review before investing in PRXV. Because it is an active product that combines a value style with impact screening, it is worth checking costs, style, and size in advance.

Periods of weak value-style performance and the performance dispersion that can arise from active management are the main sources of volatility. In addition, because the fund belongs to a category with a modest asset base, liquidity and bid-ask spread conditions should also be reviewed.

It is a suitable choice for investors who want to add responsible investing principles to U.S. large-cap value exposure. If cost is the first consideration, passive alternatives such as VTV and IWD may fit better, while those who prioritize impact screening can consider this product.