The SROI ETF is an actively managed equity ETF that, rather than mechanically replicating a specific index, selects stocks across global developed and emerging markets by weighing sustainability factors together with the underlying strength of each company. It targets long-term capital growth, and its selection results can vary with market conditions.

It may suit long-term investors who want global equity exposure that reflects both sustainability criteria and the manager's stock selection.

It is an ETF with an active (actively managed) approach, run by Calamos Antetokounmpo Asset Management.

The manager uses its own process that reviews not only financial metrics but also non-financial risks related to governance, environmental impact, and human development. The CBOX ETF reflects the character of collateral assets, the BNO ETF reflects commodity price exposure, and the JPM ETF reflects exposure to the financial sector, so their nature may differ from the global sustainable equity selection of the SROI ETF.

• A selection approach that combines fundamental analysis with sustainability assessment
• A global equity investment universe spanning developed and emerging markets

Assets under management (AUM) stand at $19.5M, and the total expense ratio is an annual 0.95%.

Because it is an active structure, investors should check the bid-ask spread and ease of trading before buying, and for long-term holding, review how the fee burden and the manager's judgment may affect performance.

Because the fund looks at global growth stocks and sustainability factors together, its reaction may differ when the market favors risk and when it favors defense. Since it does not follow a specific index exactly, performance is affected by both stock selection and the allocation across regions and sectors.

Fund flows into global equity products that use sustainability criteria can vary with market risk appetite, growth stock valuations, and demand for overseas equities. For this product as well, it is necessary to consider the management strategy, fee burden, ease of trading, and the nature of its distributions together.

The fund offers active access to global sustainable equities, but investors should check the volatility that comes from the manager's judgment, overseas stocks, and differences in criteria.

Among the products shown in the table, the ESGD ETF is a comparison point that applies sustainability criteria to developed market stocks, the ESGE ETF is a comparison point that includes emerging market stock exposure, and the VSGX ETF is a product with a broad view of the international equity universe. The KLMN ETF and KLMT ETF can also be compared in that they use climate-related criteria, but the SROI ETF differs in that it relies more on the manager's judgment than on index replication.

When considering the SROI ETF, investors should check how its sustainability criteria may create differences in holdings compared with general global equity products, and whether the judgment of active management matches their expectations. The nature of its distributions and ease of trading are also items to review against your holding purpose.

Declines in global equity markets, changes in growth stock valuations, and shifts in foreign currencies and national regulations can lead to fluctuations in value. Sustainability criteria can exclude certain sectors or companies, which may create a performance path different from general market indexes, and there is no guarantee that active stock selection will always produce favorable results.

The SROI ETF is a structure for investors who want to apply sustainability assessment and fundamental analysis to global equities together. Because its management approach differs from simple index-tracking products, it is worth confirming the fee burden, ease of trading, distribution profile, overseas market risk, and manager judgment risk before deciding whether it fits your goals.