TrueAlpha was engaged by a client to establish a point-of-view on BNP Paribas' Easy MSCI North America ESG (ENAM.PA) product.
Through a comprehensive benchmarking exercise against other leading North American ESG ETFs, we came to the following three conclusions:
- ENAM has a heavy focus on conventional Energy companies for an ESG-specific portfolio
- From an emissions per $100k invested perspective, ENAM underperforms the market (SP500)
- ..as well as all of our North American ESG ETF benchmarks from leading Canadian financial institutions (TD, RBC, Scotiabank, and WealthSimple)
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