How it works

Tobacco Free Funds sources financial data from Morningstar, an investment research company. We use Morningstar’s mutual fund and stock data to analyze funds and find investments in tobacco and tobacco-promoting entertainment companies. Our database Covers thousands of the most popular mutual funds, the type of investments most common in retirement plans like employer-offered 401(k)s.
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Invest Your Values data is based on monthly updates to mutual fund holdings. For every update, we post spreadsheets with the company screens used by each Invest Your Values site, and the results for each fund in our database.
Nov 11, 2020
November 2020 dataset. Screen list and fund results updates: Fossil Free Funds "Carbon Underground 200" screen updated to use latest Fossil Free Indexes data (2020 Q3). "Sustainability Mandate" label updated to use new Morningstar sustainable investment taxonomy.
Sep 28, 2020
September 2020 dataset. Screen list and fund results updates: Gender Equality Funds updated to use latest Equileap company data, covering 19 criteria and four sub-scores.
Sep 13, 2020
September 2020 dataset. Screen list updates: Tobacco Free Funds "Tobacco-promoting entertainment companies" screen updated to use latest UCSF Smoke Free Movies Campaign data.
Aug 11, 2020
August 2020 dataset. Screen list updates: Prison Free Funds screens added. Tobacco Free Funds "Tobacco producers" screen updated to use latest Morningstar industry data.
Jul 16, 2020
July 2020 dataset. Screen list updates: Fossil Free Funds "Carbon Underground 200" screen updated to use latest Fossil Free Indexes data (2020 Q2). Fossil Free Funds "Macroclimate 30" screen updated to use latest Macroclimate data (2020).
May 19, 2020
May 2020 dataset. Screen list updates: Fossil Free Funds "Carbon Underground 200" screen updated to use latest Fossil Free Indexes data (2020 Q1).
Apr 14, 2020
April 2020 dataset. Screen list updates: Weapon Free Funds "Major Military Contractors" screen updated to use latest SIPRI Arms Industry Database (2018).
How to make your investments align with your values
Step one icon
1
Search for mutual funds and exchange-traded funds (ETFs) by name, ticker, or asset manager. Our database covers 3,000 stock funds available in the U.S.
Step two icon
2
See your results. How much money do your funds invest in tobacco or entertainment companies that promote tobacco to young people?
Step three icon
3
Look for options that align with your values. Sort and compare to find funds that fit your investing needs.
Finding a fund

Tobacco Free Funds sources financial data on equities and mutual funds from Morningstar. Our database contains information on thousands of U.S. open-end and exchange traded mutual funds, some of the most common funds held in 401(k)s, 403(b)s, and other retirement plans.

Search for mutual funds using name or ticker symbol. Use the search page to filter funds by investing style, fund family, regional market, and more. We don't have everything in our database - we only screen mutual funds that own stocks, and can only display up to 3,000. Looking for your favorite fund and can’t find it? With more resources, we could include more funds - make a gift today to make a difference.

Screening a fund

For each mutual fund in our database, we examine every holding and determine if it is a stock issued by a tobacco company or a tobacco-promoting entertainment company.

Holdings that are not stocks, like currencies, bonds, or other mutual funds, are not rated. A fund’s Percent Rated value is equivalent to the percent of the fund that is invested in stocks. The higher a fund’s Percent Rated value, the more holdings we were able to examine. A fund with a lower Percent Rated value may have hidden tobacco-related investments that our tool cannot account for.

If a fund holds stock in a flagged company

Two screens are applied to each fund – a list of tobacco companies, and a list of entertainment companies that promote tobacco to young audiences.

We calculate the total amount of exposure

Mutual funds can have a varying number of holdings, from less than one hundred to several thousand. We calculate the total number of flagged holdings in the fund, and the total amount and percentage of the fund’s assets that are invested in those companies.

If a fund has investments in tobacco producers or tobacco-promoting entertainment studios, you'll see a chart like this showing the details:

If a fund has investments in tobacco, you'll see a chart like this

You'll also see a list of all the specific tobacco investments of that fund's portfolio.

If a fund has investments in tobacco, you'll see a list like this
We assign a Tobacco Grade

Based on whether or not a fund has investment in tobacco companies and/or tobacco-promoting entertainment companies, we assign a letter grade.

A

Fund is not invested in tobacco companies, and not invested in tobacco-promoting entertainment companies

B

Fund is not invested in tobacco companies, but is invested in tobacco-promoting entertainment companies

F

Fund is invested in tobacco companies, and may also be invested in tobacco-promoting entertainment companies

We track sustainable funds

We use Morningstar's "sustainability mandate" indicator to determine which funds are displayed as socially responsible. Funds with sustainability mandates often make investment decisions based on issues like environmental responsibility, human rights, or religious views. A socially responsible fund may take a proactive stance by selectively investing in, for example, environmentally-friendly companies, or firms with good employee relations. They may also avoid investing in companies involved in promoting alcohol, tobacco, or firearms, or in the defense industry. Look for this symbol to find funds that are designated socially responsible.

Socially responsible fund

The Forum for Sustainable and Responsible Investment is a group advancing sustainable, responsible, and impact investing. Asset managers who are members of US-SIF often have policies to exclude or restrict investments in companies involved in the production, licensing, and/or retailing of civilian firearms. Look for this symbol to find funds that are members of US-SIF.

Member of US-SIF, the Forum for Sustainable and Responsible Investment
Tobacco free action toolkit

When you're done looking up funds and finding the data you need, what's next? You can learn how to make a change and move your money with our tobacco free action toolkit. Whether you’re an individual investor or if your investments are in your employer-sponsored plan at work, our step-by-step toolkit can help. There's an in-depth guide to responsible investing, links to external resources, a sample letter to send to your employer 401(k) manager, and more — everything you need to make a change and get started investing your money tobacco free.

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