Transparency Index™

EXCLUDED Industry:

Summary of Methodology

Transparency Index™ methodology applies the exclusionary screening process to filter out industries that do not align with a positive impact on investment performance and the well-being of people

Description of Industry

Banking industry is comprised of companies that provide business loans, accept deposits and offer basic investment products to both individuals and private businesses.

Banking industry, as defined by the GICS sub-industry classification (Diversified Banks), includes large, geographically diverse banks with a national footprint whose revenues are derived primarily from conventional banking operations, have significant business activity in retail banking and small and medium corporate lending and provide a diverse range of financial services.

Number of Companies

Number of banking companies in the S&P 500: 6

Harmful Impact

Banking industry has adverse impacts on humans and societal well-being.
  • Lack of Fiduciary Behavior Linked to Backdoor Payments & Hidden Fees = $17 Billion Annual Losses for working families.1
  • 33% Banks Lack User Data Privacy Mechanisms putting customers at risk.2
  • Estimated $30 Billion Bank Overdraft Fees Collected in 2020 impacting customer well-being.3
  • Predatory Credit Card Fees Harm Users:
    16.22% Average Interest Rate4
    $12.7B Interest Payments5
    $787B Existing Credit Card Debt6

Performance Impact

The Transparency Index 5-year cumulative dollarized return is more than 2.3 times higher than S&P 500 Banks Industry Group Index.

Transparency Banking Screen Impact Performance
  • The graph shows cumulative returns for the period from October 1, 2016 to September 30, 2021*
  • Starting value $10,000 hypothetical investment, assuming no withdrawal and no dividends
  • Past performance is not an indicator of future performance
  • View Annualized Returns*

*The Transparency 100 Index (the “Index”) commenced on June 16th, 2021 following the market close. All information presented prior to this date is back-tested. Back-tested performance is hypothetical performance, not actual performance.  Back-tested performance is prepared by retrospectively applying the Index methodology to historical information with the benefit of hindsight.  Back-tested performance, therefore, does not reflect the results of actual trading.  Back-tested, as well as actual performance, are not indicative of future results.  The back-tested performance uses the same methodology that was in effect when the Index officially launched on June 16th, 2021. The back-tested performance shown in this presentation are unaudited, and do not reflect the investment of dividends or other earnings. The Index does not reflect the reinvestment of dividends.

Reason for Exclusion

Banking industry is excluded from Transparency Index due to harmful impact on investment performance and well-being of people