The asset manager launches its second index fund, the Strive 500 ETF (NYSE: STRV).

Strive Asset Management has launched the Strive ETF 500 (NYSE: STRV), a fund that provides diversified large-cap exposure to established U.S. corporations and mandates the fund manager to engage with corporates on behalf of investors. (Businesswire)

Strive ETF 500 – Shareholder engagement

The new ETF track the returns of the Solactive GBS United States 500 Index and has an expense ratio of 0.0545%.

The Solactive GBS United States 500 Index highlights the largest 500 companies in the U.S. stock market and is based on the Solactive Global Benchmark Series. Constituents are selected based on company market capitalization and weighted by free-float market capitalization. The index is rebalanced quarterly.

Strive aims to push large US corporates into prioritizing the maximization of shareholder value over other social or politically motivated objectives. It believes that pro-fiduciary shareholder engagement can positively impact the risk-return profile of a corporation for investors.

Strive has sent shareholder letters to Disney (NYSE: DIS) and Apple (NASDAQ: AAPL), two of the world’s largest companies. This follows the asset manager’s shareholder letter dated September 5 to the board of directors of Chevron (NYSE: CVX). These three companies are included in the holdings of the Strive 500 ETF, and all three letters are available on www.strive.com.

Fundspeak

“Our message to America’s largest companies is simple: focus on your mission, not someone else’s social agenda. Hire talent based on merit over other social factors. We hope to drive positive change through our shareholder engagement,” said Vivek Ramaswamy, executive chairman and co-founder.

Ohio-based Strive Asset Management is backed by investors including Peter Thiel and Bill Ackman. It was co-founded by Vivek Ramaswamy and Anson Frericks in 2022.

Related Story: Strive, Which Scooped $250M On The DRLL Anti-ESG ETF, To Launch Four New ETFs