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ACCESSWIRE 25-May-2023 1:30 PM
WASHINGTON, DC / ACCESSWIRE / May 25, 2023 / Today, the American Conservative Values ETF (NYSE:ACVF) announced that it divested its holdings of and initiated a "Refuse to Buy" rating for Target Corp. (TGT) on May 24th, 2023.
Target Corp.'s ever increasing pandering to the Woke LGBT agenda has backfired and its management team's inept response to a crisis of their own making has significantly damaged their brand across the political spectrum. We believe their stocks' long-term performance will suffer because of it. Their actions have also removed any doubt about the company's hostility to conservative values. After a comprehensive review of our continued investment in Target ACVF's management team has decided to divest its holding of Target Corp. (TGT).
"Not only weren't they smart enough to stay apolitical, they picked the wrong side," stated ACVF CEO and co-founder William Flaig.
"Hopefully the examples of Target and Bud Light reinforce the need for liberal corporate managers to focus on maximizing shareholder returns and stop playing politics," stated ACVF's President and co-founder Tom Carter, adding "Go woke go, broke is real."
According to Investor's Business Daily, Anheuser-Busch's market value has dropped a staggering $15.7 billion between April 1st and May 23rd.
JP Morgan analyst Jared Binges told his clients "We believe there is a subset of American consumers who will not drink a Bud Light for the foreseeable future," adding "We believe a 12% to 13% volume decline on an annualized basis would be a reasonable assumption."
ACVF attempts to dynamically align with the concerns of politically conservative investors without sacrificing performance. [ACVF Factsheet] [Videos] "We do not want to invest in the likes of Disney, Meta, Blackrock, Google, etc. We do not want to give these companies that are eagerly working to destroy conservative values our hard-earned investment dollars, and neither should you," states Flaig. [List of current Boycotts]
"Target has shown their true colors," stated Tom Carter, adding, "We have been keeping an eye on Target's behavior for some time. Although we have historically perceived Target as trending towards "The Woke" liberal agenda, we felt their behavior wasn't the worst of the worst among general merchandising companies."
In our ongoing survey of woke/liberal companies, Target (TGT) ranked 9th overall in our June 2022 survey, with 10% of participants selecting them as their top 3 most woke/liberal companies. This was up significantly from 3% of participants in our previous survey. [Survey Link]
"Giving conservative investors the power to respond to such concerns is an example of why we built ACVF," said Tom Carter, adding that "the management team continually seeks to better understand politically conservative investors' sentiments and opinions as corporate reputations are impacted by news events and market performance."
"We must hold these companies accountable for their actions and insist on transparency. We need to vote with our wallets. Politically conservative consumers and investors have started to react, boycotting goods and services as well as denying them access to the capital they need. ACVF is currently refusing to invest in 34 such companies," said Flaig, adding, "I'm proud to offer an alternative to the S&P 500*, which currently keeps 25 cents of every invested dollar from these companies."
The final decision to boycott a company is qualitative. Fund management uses a weight-of-the-evidence approach that takes into consideration the company's standing reputation among political conservatives. Management evaluates their potential portfolio performance risk, economic sector, and reputation relative to peers. Typically, not one simple thing creates a reputation, but there is an event such as this that calls us to action.
The American Conservative Values ETF (ACVF) is based on the conviction that politically active companies negatively impact their shareholder returns as well as support issues and causes that conflict with our conservative political ideals, beliefs, and values.
ACVF's priority is shareholder returns and providing an investment alternative for politically conservative investors. Simply put, ACVF seeks to boycott as many companies hostile to conservative values as possible without sacrificing performance. ACVF is designed to replace your current large-cap investments.
To schedule an interview with Mr. Flaig or Mr. Carter, please contact them at:
*The S&P 500® is a broad-based unmanaged index, which is widely recognized as representative of the equity market in general.
As of 5/24/2023 the fund holds 0.00% of Target, Anheuser-Busch, Disney, Meta, Blackrock, Google.
Carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund's prospectus and summary prospectus, which may be obtained by visiting ACVETFS.com. Read the prospectus and summary prospectus carefully before investing.
An investment in the Fund is subject to risks, including the possible loss of the principal amount invested. Overall stock market risks may affect the value of individual securities in which the Fund invests. The Fund is actively managed, and the adviser's investment decisions impact the Fund's performance. The Fund and adviser are new, and the ETF has only recently commenced operations. This Fund may not be suitable for all investors.
The equity securities in which the Fund invests will generally be those of companies with large market capitalizations. Exchange-Traded Funds (ETFs) trade like stocks, are subject to investment risk, and will fluctuate in market value. Transactions in shares of ETFs will result in brokerage commissions, which will reduce returns. Unlike typical exchange-traded funds, there are no indexes that the Fund attempts to track or replicate. Thus, the ability of the Fund to achieve its objectives will depend on the effectiveness of the portfolio manager. There is no assurance that the investment process will consistently lead to successful investing. The Fund is new and has a limited operating history.
The ACVF Fund is distributed by Foreside Fund Services, LLC.
SOURCE: American Conservative Values ETF