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May 2019 Sustainable Investment Funds Performance Scorecard

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Summary
Longer-term higher quality bond funds were the best performing fixed income funds in May while emerging market and high yield bond funds lagged behind. Returns ranged from a high of 4.32% to a low of -1.82%.

In a challenging month for equities, the leading funds in the equity and all other funds segment included mutual funds and exchange-traded funds invested in solar energy (but apparently not clean or alternative energy more generally), gold and precious metals as well as global real estate. Funds in these categories produced some of the very few positive results in May, as high as 2.64% while small cap and value funds recorded the worst results, as low as -14%, in one instance.

Funds employing ESG integration strategies, either exclusively or in combination with exclusions and shareholder/bondholder engagement, dominated the leaders and laggards tables. Funds employing exclusionary strategies, either exclusively or in combination with other strategies, comprised the second most common sustainable strategy among the leading and lagging funds in May.

May Performance Scorecards



Notes of Explanation covering fixed income funds. Results are total returns. Fixed income funds include short and long-term taxable and tax-exempt bond funds and ETFs, a total of 515 funds/share classes, ETFs, ETNs with performance for the full month of May 2019. Blanks for other time periods indicate that the fund was not in operations during the entire time interval. Top 10 defined as top 10 funds, excluding multiple share classes of the same fund (i.e. if more than one share class landed in the top of bottom listing of the 10 funds only the best performing one fund/share class is included. V=Values-based strategy, E=Exclusionary strategy, Impact/Theme=Impact and/or thematic strategy, ESG=environmental, social, governance integration, S/P=shareholder/bondholder engagement and proxy voting. Sources: STEELE Mutual Fund Expert, Morningstar data and Sustainable Research and Analysis.

Notes of Explanation covering equity and all other funds: Results are total returns. Equity funds include all US and international equity as well as all other funds, except for fixed income funds, a total of 1,616 funds/share classes, ETFs, ETNs with performance for the full month of May 2019. Blanks for other time periods indicate that the fund was not in operations during the entire time interval. Top 10 defined as top 10 funds, excluding multiple share classes of the same fund (i.e. if more than one share class landed in the top of bottom listing of the 10 funds only the best performing one fund/share class is included. V=Values-based strategy, E=Exclusionary strategy, Impact/Theme=Impact and/or thematic strategy, ESG=environmental, social, governance integration, S/P=shareholder/bondholder engagement and proxy voting.

Sources: STEELE Mutual Fund Expert, Morningstar data and Sustainable Research and Analysis.

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