Praxis launches PRXG and PRXV ETFs on NYSE

Praxis Investment Management™, Inc., a company of Everence® and a leading faith-based investment manager, today launched its first two exchange-traded funds (ETFs)—Praxis Impact Large Cap Growth ETF (PRXG) and Praxis Impact Large Cap Value ETF (PRXV). Both funds began trading on the NYSE today.

“Our new active ETFs are designed to meet the demand of faith-based investors,” said Chad Horning, President of Praxis Funds™. “Investors want competitive, values-driven investment options and they want to talk with their financial advisors about investing with their faith in mind, and these products facilitate that conversation.”

PRXG and PRXV deploy quantitative equity strategies similar to those used in the Praxis Growth Index Fund (MMDEX) and the Praxis Value Index Fund (MVIIX).

“All Praxis funds embody our stewardship investing core values and use our ImpactX framework to create real-world impact,” said Benjamin Bailey, Vice President of Investments. “Research shows that investors want advisors who understand and engage with their faith-based investing preferences. Our new ETFs provide practical solutions for advisors looking for lower cost, liquid, tax-efficient, values-driven investment options to serve these clients.”

The funds seek capital appreciation and performance similar to the CRSP US Large Cap Growth Index and CRSP US Large Cap Value Index respectively. Praxis applies equity screens consistent with its core values and utilizes optimization techniques to attempt to limit benchmark tracking error. The funds are meant to serve as core allocations—“the heart of your portfolio”— as described in the marketing campaign launching today.

Bailey will head the team managing PRXG and PRXV. Bailey has over 20 years of investment management experience and has managed Praxis portfolios since 2005.

The expense ratios for both funds are 0.36%.

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