This ETF tracks the Victory International Volatility Weighted Responsible Investing Index and invests in equities outside the United States. Rather than weighting by market capitalization, it reflects the volatility of individual stocks to manage risk, and it applies a screen that excludes companies that conflict with biblical principles.

It suits long-term investors who value faith-based and values-based investing principles and want diversified exposure to foreign equities.

It is a passively managed (index-tracking) ETF operated by Timothy Plan.

The fund first excludes companies that fail its biblically responsible investing criteria, then holds the remaining foreign stocks using a volatility-weighted approach. It gives relatively larger weights to lower-volatility stocks, seeking a risk profile that differs from market-cap-weighted indexes.

• Biblically responsible investing screening applied
• Volatility-weighted allocation method

Assets under management (AUM) are $264.1M, and the total expense ratio is 0.62% per year.

Compared with typical foreign large-cap ETFs, its stock selection criteria and weighting method differ, so the level of the management fee is also worth examining.

The ETF is affected by the overall direction of foreign equity markets and by currency movements, and because of its volatility-weighted approach it tends to move somewhat differently from market-cap-weighted indexes. Short-term performance fluctuates with the global economy and the interest rate environment.

Inflows tend to come mainly from a specific group of investors with demand for faith-based investing, and fund flows can vary with the international diversification climate and the strength or weakness of the dollar.

Its strength is international diversification that fits investors' value criteria, while the management fee and the particularities of the tracked index are factors to consider.

Comparable products in the same international category shown in the table include FNDF and GSIE, which are ETFs that provide low-cost exposure to a broader range of foreign large-cap stocks. Also displayed are IGF, GNR, and GUNR, which are ETFs concentrated in specific themes such as global infrastructure and natural resources, so their exposure differs in nature. If you want a general international ETF that invests broadly without values-based or faith-based screening, FNDF and GSIE are direct comparisons, while TPIF is distinguished by its biblically responsible investing screening and volatility weighting.

Here are the points to review before investing in TPIF. Although it is a values-based international ETF, its management fee, currency exposure, and the range of stocks excluded by screening may differ from a typical international index ETF, so it is worth checking in advance.

The management fee burden and currency fluctuations are the main variables for short-term returns. Because screening excludes certain sectors and companies, performance may differ from a general international index, and given the volatility-weighted approach, it may move differently from market-cap-weighted indexes.

It is a suitable choice for investors who want to diversify into foreign equities while adhering to faith-based and values-based principles. If cost and broad exposure are the priority, general international ETFs such as FNDF and GSIE can also be considered alongside it.