Oh, Jesus Christ.
So over the weekend, we ruffled some feathers both here and elsewhere for suggesting that “you’d have to be a special kind of retarded” to buy shares of “The ETF Industry Exposure & Financial Services ETF,” ticker: TETF.
You can read that entire post here, so we won’t rehash it, but suffice to say there’s a laundry list of reasons to think “TETF” is a gimmick designed solely to milk gullible investors by charging 64 basis points to, in an irony of ironies considering the expense ratio, capitalize on the rampant proliferation of low-cost, passive investment vehicles.
Well, we were perhaps too quick to assign the Tropic Thunder “full retard” label to “TETF,” because as it turns out, there’s an ETF that easily exceeds it on the retarded scale. That ETF is the “Inspire Global Hope ETF, TICKER: BLES.
Here’s what “BLES” does (from the official website):
We believe good returns and good values are not mutually exclusive. Inspire Global Hope ETF is designed to create meaningful impact by investing in some of the most inspiring companies from around the globe, while also seeking to provide investors with a low cost, high impact investment that meets the stringent demands of modern investors. All Inspire ETF’s meet biblically responsible investing (BRI) standards, which measure a portfolio’s alignment with biblical values.
Yes, “all Inspire ETF’s meet biblically responsible investing (BRI) standards,” standards which evidently do not include: avoiding charging people too much.
Because the expense ratio here is 0.61%:
So that would be six times as expensive as SPY.
Just call that the “Jesus premium.”
So far so good for “BLES.” It’s up around 4% since inception: