SPDR® MSCI ACWI Low Carbon Target ETF
Fund offered by:
SPDR State Street Global Advisors
Ticker: LOWCsocially responsible
Deforestation grade: Fund is invested in deforestation-risk agricultural commodity producer/traders, below the threshold of 0.5%. Assigned a grade of C.
How we track deforestation-risk investments
C
14.52%
INVESTED IN DEFORESTATION-RISK COMPANIES
producers
AGRIBUSINESS
deforestation-risk producers and traders of palm oil, paper/pulp, rubber, timber, cattle, and soy
banks
BANKS AND LENDERS
that finance deforestation-risk agribusiness producers via lending and underwriting
consumers
MAJOR CONSUMER BRANDS
that use deforestation-risk agribusiness commodities in products
131
holdings flagged
15%
of assets flagged
This fund contains
 $17.22 MILLION invested 
in holdings flagged for deforestation risk
Unlike many large investors, State Street actually has a number of fossil free funds - which shows that State Street understands the existential threat of climate change. Yet, even in its fossil-free funds, and across its portfolios, State Street still has huge investments in companies like JBS, Sime Darby, Posco and Mitsubishi that grow and trade palm oil, cattle, and rubber, and others like Tesco and Carrefour that use these commodities in their products but have failed to eliminate deforestation from their operations. This means State Street has a key role to play in voting for No Deforestation policies at these companies and engaging with company management to make sure these policies are implemented. Tell State Street to improve its climate game by adopting a No Deforestation Policy!
Sign the petition
producers
Commodity producers
14 holdings
0.34% of assets
$404,449 invested
banks
Banks and lenders
31 holdings
3.35% of assets
$3.97 MILLION invested
consumers
Major consumer brands
87 holdings
11% of assets
$12.85 MILLION invested
Commodity producers
Commodity producers
14 HOLDINGS
Companies that produce and trade palm oil, paper/pulp, rubber, timber, cattle, and soy, and have a past record or a significant risk of contributing to deforestation, land grabbing, and human rights abuses. Investing in any of these companies assigns a fund a grade of C if total producer exposure is below the threshold of 0.5%; a grade of D if below 1.5%; and a grade of F if above 1.5%.
14 HOLDINGS
  • % of portfolio
    $ invested
  • 1. Neste Corp
    Soy producerPalm oil producer
    0.09%0.09% of portfolio
    $105,290$105,290 invested
    Soy producerPalm oil producer
  • 2. ITOCHU Corp
    Timber producerRubber producerPaper/pulp producerPalm oil producer
    0.07%0.07% of portfolio
    $79,611$79,611 invested
    Timber producerRubber producerPaper/pulp producerPalm oil producer
  • 3. Marubeni Corp
    Timber producerRubber producerPaper/pulp producer
    0.06%0.06% of portfolio
    $75,868$75,868 invested
    Timber producerRubber producerPaper/pulp producer
  • 4. PT Astra International Tbk
    Palm oil producer
    0.03%0.03% of portfolio
    $36,190$36,190 invested
    Palm oil producer
  • 5. Jardine Matheson Holdings Ltd
    Palm oil producer
    0.02%0.02% of portfolio
    $23,172$23,172 invested
    Palm oil producer
View next 5
Banks and lenders
Banks and lenders
31 HOLDINGS
Financial institutions directly and indirectly involved in underwriting and lending to deforestation-risk producers and traders. Investing in any of these companies assigns a fund a grade of B (assuming there are no investments in producers).
31 HOLDINGS
  • % of portfolio
    $ invested
  • 1. JPMorgan Chase & Co
    0.72%0.72% of portfolio
    $859,983$859,983 invested
  • 2. Bank of America Corp
    0.54%0.54% of portfolio
    $645,221$645,221 invested
  • 3. Citigroup Inc
    0.24%0.24% of portfolio
    $280,582$280,582 invested
  • 4. Morgan Stanley
    0.21%0.21% of portfolio
    $253,250$253,250 invested
  • 5. Commonwealth Bank of Australia
    0.19%0.19% of portfolio
    $226,283$226,283 invested
View next 5
Major consumer brands
Major consumer brands
87 HOLDINGS
Consumer goods retailers that source palm oil, paper/pulp, rubber, timber, cattle, and soy from deforestation-risk producers and traders and sell it to consumers worldwide. Investing in any of these companies assigns a fund a grade of B (assuming there are no investments in producers).
87 HOLDINGS
  • % of portfolio
    $ invested
  • 1. Amazon.com Inc
    Soy major consumer brandCattle major consumer brandTimber major consumer brandRubber major consumer brandPaper/pulp major consumer brandPalm oil major consumer brand
    2.1%2.1% of portfolio
    $2.49M$2.49M invested
    Soy major consumer brandCattle major consumer brandTimber major consumer brandRubber major consumer brandPaper/pulp major consumer brandPalm oil major consumer brand
  • 2. Johnson & Johnson
    Paper/pulp major consumer brandPalm oil major consumer brand
    0.64%0.64% of portfolio
    $755,600$755,600 invested
    Paper/pulp major consumer brandPalm oil major consumer brand
  • 3. The Home Depot Inc
    Cattle major consumer brandTimber major consumer brandRubber major consumer brandPaper/pulp major consumer brand
    0.59%0.59% of portfolio
    $700,358$700,358 invested
    Cattle major consumer brandTimber major consumer brandRubber major consumer brandPaper/pulp major consumer brand
  • 4. Nestle SA
    Soy major consumer brandCattle major consumer brandPaper/pulp major consumer brandPalm oil major consumer brand
    0.56%0.56% of portfolio
    $659,800$659,800 invested
    Soy major consumer brandCattle major consumer brandPaper/pulp major consumer brandPalm oil major consumer brand
  • 5. Procter & Gamble Co
    Paper/pulp major consumer brandPalm oil major consumer brand
    0.53%0.53% of portfolio
    $634,447$634,447 invested
    Paper/pulp major consumer brandPalm oil major consumer brand
View next 5
View more info
DATA AS OF 10/29/21
Financial performance
Performance data provided byMorningstarFind more financial data on LOWC at Morningstar.com
Current fund
LOWC
SPDR® MSCI ACWI Low Carbon Target ETF
Family
SPDR State Street Global Advisors
Category
World Large-Stock Blend
vs.
Benchmark
ACWI
iShares MSCI ACWI ETF
Family
iShares from BlackRock
Category
World Large-Stock Blend
Fund comparison settings
Investment timeline
Performance as of: 10/31/21
1 year
3 years
5 years
10 years
Benchmark
Suggested: MSCI ACWI
ACWI - iShares MSCI ACWI ETF
Fund comparison results
Compared to the benchmark, this fund has:
Higher 5-yr returns 
0.03% more in annualized returns
Less invested in commodity producers 
0.35% less invested
More invested in banks and lenders 
0.05% more invested
Less invested in major consumer brands 
0.2% less invested
Current fund
LOWC
SPDR® MSCI ACWI Low Carbon Target ETF
Family
SPDR State Street Global Advisors
Category
World Large-Stock Blend
vs.
Benchmark
ACWI
iShares MSCI ACWI ETF
Family
iShares from BlackRock
Category
World Large-Stock Blend
Fund comparison settings
Investment timeline
Performance as of: 10/31/21
1 year
3 years
5 years
10 years
Benchmark
Suggested: MSCI ACWI
ACWI - iShares MSCI ACWI ETF
Fund comparison results
Compared to the benchmark, this fund has:
Higher 5-yr returns 
0.03% more in annualized returns
Less invested in commodity producers 
0.35% less invested
More invested in banks and lenders 
0.05% more invested
Less invested in major consumer brands 
0.2% less invested
Current fund
LOWC
SPDR® MSCI ACWI Low Carbon Target ETF
Family
SPDR State Street Global Advisors
Category
World Large-Stock Blend
vs.
Benchmark
ACWI
iShares MSCI ACWI ETF
Family
iShares from BlackRock
Category
World Large-Stock Blend
Fund comparison settings
Investment timeline
Performance as of: 10/31/21
1 year
3 years
5 years
10 years
Benchmark
Suggested: MSCI ACWI
ACWI - iShares MSCI ACWI ETF
Fund comparison results
Compared to the benchmark, this fund has:
Higher 5-yr returns 
0.03% more in annualized returns
Less invested in commodity producers 
0.35% less invested
More invested in banks and lenders 
0.05% more invested
Less invested in major consumer brands 
0.2% less invested
Month-end trailing returns  
Annualized returns
Deforestation analysis
1-yr
3-yr
5-yr
10-yr
Commodity producers
This fund
LOWC - SPDR® MSCI ACWI Low Carbon Target ETF
37%
18%
15%
/
0.34% 
Benchmark
ACWI - iShares MSCI ACWI ETF
37%
18%
15%
12%
0.69% 
Fund compared to benchmark
 
-0.17%
0.55%
0.03%
/
0.35%  lower
Find more financial data on LOWC at Morningstar.com
Take Action
Call on U.S. investment firms to implement Deforestation and Land Grab-Free investment policies.
Find top-graded funds that avoid deforestation-risk investments.
Use Fossil Free Funds to check this fund's fossil fuel investments and carbon footprint.
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