Investment Firm Launches ETF Excluding Companies Prioritizing DEI Over Profits

One U.S.-based investment firm is providing a new way for Americans to cut out companies from their portfolios that prioritize diversity, equity and inclusion (DEI) initiatives over bottom lines. James Fishback, co-founder and CEO of Azoria, said on 'Fox & Friends First,' Monday, that this will be part of President Trump's historic mandate, calling out these companies and government practices that put hiring on race and gender as opposed to skill and merit.

Our new ETF coming out in 2025 will call out these three dozen companies not just for being unethical, but for pursuing value-destructive behavior that hurts shareholders. Fishback’s company recently announced the rollout of its own exchange-traded funds which will include all S&P 500 stocks – except three dozen that allegedly use DEI hiring targets. Some of those names not included in the ETF are Starbucks, Best Buy, Vanguard and BlackRock. In a recent New York Post op-ed, Fishback clarified his stance that companies that hire on skill and merit will outperform those that hire on race and gender. 'Look, if you commit to hiring on race and gender and not merit, your stock will continue to underperform. Our ETF will call you out,' the co-founder and CEO reiterated with Fox News’ Todd Piro. 'And what we'll do is we'll exclude those companies in the S&P so investors can own just the companies that want to hire the best and brightest, no matter they look like.' Starbucks represented one of the obvious exclusion options for Azoria’s Meritocracy ETF (ticker ‘SPXM’), as Fishback pointed out the coffee giant first released its desired DEI timeline in 2020. 'They announced that they wanted to achieve 30% racial and ethnic diversity. What on earth does that have to do with making a coffee at a profit in America?' he said. 'You hire the best and brightest no matter what they look like.

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