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

Confectionary industry is comprised of companies that produce chocolate, chewing gum, candy and other products made from cocoa. All confectionary categories are characterized by their significant use of sugar and are generally low in micronutrients.

Confectionary industry included in GICS Packaged Foods & Meats sub-industry.

Number of Companies

Number of confectionary companies in the S&P 500: 3

Harmful Impact

Investment in confectionary production and use have adverse impacts on human, societal and environmental well-being.
  • 1.5 Million Child Laborers in Chocolate Industry Many trafficked as slaves.1
  • Heart Disease Related Death 2x More Likely with a daily diet that includes 25% added sugar.2
  • Alzheimer’s Linked to Sugar Type 2 diabetes patients twice as likely to get Alzheimer’s.3
  • 23% Increased Risk of Anxiety and Depression in patients with high sugar intake.4
  • Confectionary Industry Economic Burden =1.3T5

Performance Impact

The Transparency Index 5-year cumulative dollarized return is more than 3 times higher than S&P 500 confectionary companies.

Transparency Confectionary 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

Confectionary industry is excluded from Transparency Index due to negative impact on investment performance and the well-being of people.