The Vatican Bank introduced two new equity indexes on Tuesday designed to track companies that strictly adhere to the social doctrine of the Catholic Church.
• What is META stock doing now.
The Morningstar IOR U.S. Catholic Principles Index and the Morningstar IOR Eurozone Catholic Principles Index each monitor 50 medium- and large-cap corporations.
Every constituent undergoes a rigorous screening process to ensure compliance with ethical mandates regarding human dignity, social justice and environmental protection.
“Having benchmarks built in accordance with recognized Catholic ethical criteria allows us to make our performance assessment and reporting processes even more rigorous and transparent,” Giovanni Boscia, Vatican Bank CFO, said in a statement, according to CNBC.
“This initiative reaffirms our commitment as a financial institution serving the church, further strengthening the role of the [Vatican Bank] as a reference point for the Catholic world,” Boscia added.
Top Holdings by Weight
Based on launch data from Morningstar, here are the top 10 holdings of the Morningstar IOR U.S. Catholic Principles Index:
Company Name & Ticker Weighting
Meta Platforms Inc. (NASDAQ:META) 5.31%
Amazon.com Inc. (NASDAQ:AMZN) 5.22%
NVIDIA Corp. (NASDAQ:NVDA) 5.09%
Tesla Inc. (NASDAQ:TSLA) 4.84%
Apple Inc (NASDAQ:AAPL) 4.62%
JPMorgan Chase & Co. (NYSE:JPM) 4.27%
Broadcom Inc. (NASDAQ:AVGO) 4.09%
Visa Inc. (NYSE:V) 3.35%
Micron Technology Inc. (NASDAQ:MU) 3.01%
Alphabet Inc. (NASDAQ:GOOGL)
Vatican ETF Coming?
The new Catholic indexes position the Vatican to potentially capitalize on the booming global market for exchange-traded funds (ETFs).
The ETF sector is projected to reach nearly $30 trillion by 2029, according to PricewaterhouseCoopers. The Vatican could license its new stock indexes to third-party providers, allowing lay investors to align their portfolios with the church’s teachings.
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