Vets still have a higher unemployment rate than the general population.
Pacer ETFs has launched an exchange-traded fund that invests in companies with the best hiring records for veterans — a first for environmental, social and governance funds.
The Pacer Military Times Best Employers ETF (VETS) selects publicly traded funds from the annual Military Times Best for Vets Employers list. To qualify for the list, companies have to answer a 90-question survey from Military Times detailing their policies and track records on hiring veterans. The survey also asks about policies toward reservists, recruiting military job candidates and policies toward military families.
The company that was ranked best for vets last year was First Data Corp. (FDC), followed by BAE Systems (BA—London), Booz Allen Hamilton (BAH) and General Motors Corp. (GM).
The ETF doesn’t just buy the stocks of the companies that are ranked best for veterans in a single year, however: It requires companies to have been on the list for the previous three years. The ETF only buys companies with a market capitalization of at least $200 million, and companies must meet a liquidity threshold as well.