ETFs get religion: New FaithShares funds target Christian denominations

Increasingly, people are choosing to put their money where their values are, and that sentiment isn't lost on money managers. Just this week, the first of three exchange-traded funds targeted at Christian investors hit the market. Two more will launch next week.

The securities held in each of the funds, FaithShares Catholic Values Fund , FaithShares Methodist Value Fund and FaithShares Christian Values Fund, are tailored to each denomination's teachings and recommendations for investing. FaithShares Advisors worked with the FTSE Group and KLD Research & Analytics, a provider of environmental, social and governance research and indexes, to create the series of custom indexes on which the funds are based.