Parnassus Core Select ETF and Parnassus Value Select ETF Provide Investors with Access to High-Conviction Portfolios With the Flexibility to Pursue Outperformance.
Parnassus Investments, a pioneer in sustainable investing, announced in December 2024 the launch of its first two exchange-traded funds (ETFs), the Parnassus Core Select ETF (NYSE: PRCS) and the Parnassus Value Select ETF (NYSE: PRVS).
The new funds mark Parnassus’s entry into the active ETF market to offer investors access to the firm’s high-conviction, actively managed equity strategies in a convenient, tax-advantaged vehicle.
The Parnassus Core Select ETF is an actively managed ETF that seeks to achieve strong long-term returns by investing in a concentrated portfolio of approximately 25 high-quality, attractively priced U.S. large cap stocks that reflect our investment team’s highest convictions. The fund will be managed by the veteran portfolio management team of Todd Ahlsten, Benjamin Allen and Andrew Choi.
The Parnassus Value Select ETF is an actively managed ETF that seeks to achieve strong long-term returns by investing in a concentrated portfolio of approximately 25 undervalued U.S. large cap stocks that we believe are poised to rise but are temporarily out of favor relative to their history or peers. The fund will be managed by the experienced portfolio management team of Billy Hwan and Krishna Chintalapalli.
“Over our 40-year history, Parnassus has earned a reputation for high-conviction stock picking. These new ETFs comprise our best ideas in pursuit of outperformance. They will be portfolios of about 25 stocks, as compared to our typical 40-stock portfolios,” said Benjamin Allen, CEO of Parnassus Investments. “With the launch of PRCS and PRVS, our investment process and expertise will be accessible to a new audience of ETF investors.”
Both ETFs embody the key strengths of Parnassus’s investment approach, offering benefits for investors, including:
- Selective Exposure: PRCS and PRVS provide investors with access to carefully researched selections of high-quality companies that demonstrate strong financial prospects and sustainable business practices. PRCS focuses on stocks positioned for long-term growth and durability, while PRVS focuses on resilient companies facing temporary challenges, capturing recovery opportunities to drive sustainable, long-term value.
