The English translation of the word “Tov” in Hebrew means “good”. You likely have heard someone say “Mazel Tov” when they are wishing good luck or offering congratulations. While I don’t speak Hebrew conversationally, I find myself saying “Tov” multiple times a week out of habit. However, the word also translates to “purposeful,” and the JLens 500 Jewish Advocacy US ETF (TOV) aims to be exactly that for the Jewish investment community.
More Than Just a Core Equity Holding
TOV is an index-based U.S. large-cap ETF that, at first glance, looks quite similar to the Vanguard S&P 500 ETF (VOO). This similarity is intentional. JLens begins its construction process with the 500 largest U.S. public companies and then screens out those with business activities that do not align with Jewish values.
As of the end of November, TOV held 496 positions. The remaining companies are scored based on three Jewish value scorecards inspired by the framework of Mitzvot, or obligations.
Recently, the fund’s largest positions were NVIDIA and Apple, mirroring the top holdings of VOO. However, there are subtle weighting differences:
- NVIDIA: 7.2% of assets in TOV compared to a slightly lower weight in VOO.
- Apple: 6.9% of assets in TOV, representing a slightly smaller exposure than its market-cap peer.
TOV Amplifies the Jewish Voice Through Advocacy
What separates this fund from a traditional passive vehicle is its focus on shareholder advocacy. VettaFi recently joined the JLens team at the New York Stock Exchange during Hanukkah to celebrate the fund’s mission of amplifying the Jewish voice in the corporate arena.
JLens champions long-term shareholder interests by engaging with corporate leaders to:
- Combat antisemitism and online hate speech.
- Support Israel and promote the value of repairing the world.
- Actively vote client proxies in a manner that aligns with these core obligations.
This ensures that the concerns of the American Jewish community are heard within the boardrooms of the companies in which they invest.
Performance For a Slightly Healthy Fee
In the six-month period ended December 16, TOV rose 14.2%. This compares favorably to the 14.3% return for VOO, especially when considering the difference in fees. TOV carries an expense ratio of 0.18%, while VOO charges a scant 0.03%.
Many investors will recognize the significance of that 0.18% figure. In Hebrew, the numerical value of 18 corresponds to the word “Chai,” which means “Life”. You might know the toast “L’Chaim,” used to celebrate health and success.
As we navigate the holiday season, whether you celebrate Christmas, Hanukkah, or another tradition, I wish you all L’Chaim and a purposeful end to 2025.
For more news, information, and analysis, visit VettaFi | ETF Trends.
VettaFi.com is owned by VettaFi LLC (“VettaFi”). VettaFi is the index provider for TOV, for which it receives an index licensing fee. However, TOV is not issued, sponsored, endorsed, or sold by VettaFi. and VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of TOV.
