DWS has announced the launch of the Xtrackers MSCI USA Climate Action Equity ETF (USCA), which has received an investment of approximately $2 billion on its first day of trading, making it the largest ETF launch of all time in the U.S. The fund seeks exposure to companies leading the way towards a low-carbon economy and corresponds generally to the performance of the MSCI USA Climate Action Index. The index is comprised of large- and mid-cap companies in the U.S. seen as leading their sector peers in taking actions relating to climate transition. USCA has an expense ratio of 0.07%. Ilmarinen, Finland’s largest private earnings-related pension insurance company, invested in USCA as part of its investment strategy, which is aligned with its goal to achieve a carbon-neutral portfolio by the end of the year 2035. DWS’s suite of climate-related and environmental, social, and governance (ESG) ETFs now stands at 15, representing roughly 24% of Xtrackers’ overall AUM in the U.S. of roughly $19.1 billion.
