Anti-woke investment firm to release new ETF that shuns DEI-focused companies
James Fishback, CEO and co-founder of Azoria, tells “Fox & Friends First” about the new ETF that invests in anti-DEI companies and the goals of the new Department of Government Efficiency (DOGE).
A US-based investment firm is providing a new way for Americans to remove companies from their portfolios that prioritize diversity, equity and inclusion (DEI) initiatives over the bottom line.
“I think it’s going to be part of President Trump’s historic mandate to call out those companies, to call out government practices that base hiring on race and gender as opposed to skills and merit,” said Azoria co-founder and CEO. director James Fishback.Fox & Friends First:“Monday.
“Our new ETF, coming out in 2025, will call out these three dozen companies not only for being unethical,” he expanded, “but for pursuing value-destructive behavior that harms shareholders.”
Fishback’s firm recently announced the launch of its own exchange-traded funds that will include all but three dozen stocks in the S&P 500, which supposedly use DEI rental targets.
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Some of those names that are not included in the ETF Starbucks, Best Buy, Vanguard and BlackRock. In a recent New York Post op-ed, Fishback clarified his position that companies that hire based on skill and merit will outperform those that hire based on race and gender.
The Azorias Meritocracy ETF (marked “SPXM”) will at least exclude Starbucks, Vanguard, Best Buy and BlackRock. (Getty Images)
“Look, if you hire based on race and gender, not merit, your stock will continue to underperform. Our ETF will invite you,” the co-founder and CEO reiterated to Fox News’ Todd Pirro.
“And what we’re going to do is we’re going to exclude those companies from the S&P so that investors can only own companies that want to hire the best and the brightest, regardless. [what] are similar.”
Starbucks featured one Among the obvious exclusion options for Azoria’s Meritocracy ETF (noted “SPXM”), as Fishback noted, the coffee giant has released its desired DEI timeline for 2020 for the first time.
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“They said they wanted to get to 30% racial and ethnic diversity. What does that have to do with making profitable coffee in America?” he said. “You hire the best and the brightest, no matter what they look like. That’s how you put employees and shareholders first.”
“Over the past five years, the S&P 500 is up nearly 100%, Starbucks is up just 12%,” Fishback noted. “Espresso machines and Wi-Fi aren’t the problem, people are are at the core of his business.”
The change starts at the top of Fishback, who called on Starbucks’ newly appointed CEO to roll back the brand’s “woke” quotas.
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Gerald Storch, the former vice president of Target and CEO of Toys ‘R’ Us, said it is not the role of companies to get “entangled” in politics and “Maria Bartiromo on Wall Street” disputes.
“Brian NicolI respect him a lot. He walked around Chipotle, he can start walking around Starbucks tomorrow if he wants to, but he needs to get rid of these hiring quotas and recommit to meritocracy.”
While the ETF’s launch date and full list of stock options have yet to be announced, Fishback wrote in his article:
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