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ESG Investing Trends to Watch: Gender Diversity (SHE) Index ETF Retreats from All-Time High

ESG Investing Trends to Watch: Gender Diversity (SHE) Index ETF Retreats from All-Time High

Tammy Da Costa, Analyst

ESG Investing Trends:

ESG (Environmental, Society & Governance) investing is a trend that has recently gained traction as millennials shift their focus to sustainable finance and impact investing, boosting demand for indices and ETF’s promoting diversity and inclusion.

Thomson Reuters Diversity & Inclusion Index Performance Chart

ESG Investing Trends to Watch: Gender Diversity (SHE) Index ETF Retreats from All-Time High

Source: Refinitiv

Although more women have entered into what was historically known as male only roles, the rise of powerful global female leaders and influencers has raised further awareness of challenges that women in finance, business and society as a whole which have been further exacerbated by the Covid-19 pandemic.

Related Articles: Three Women Leaders Changing Finance, Economics and Business

The SHE (SPDR SSG Gender Diversity) Index aims to promote companies in the US who are actively striving to bridge the gap between women and men in senior positions, giving a greater weighting to firms with a higher degree of gender diversity.

ESG Investing Trends to Watch: Gender Diversity (SHE) Index ETF Retreats from All-Time High

Source: SSGA website

SHE (SPDR SSGA Gender Diversity) Index Technical Analysis

At the time of writing, the SHE (SPDR SSGA Gender Diversity) Index has enjoyed an approximate 112% rally since March last year before peaking at an all-time high of $106.58 earlier this month.

Although prices have since retreated back below the $105 mark, now holding as critical resistance for the imminent move, price action remains in a well-defined range within the confines of the rising channel.

To learn more about price action or chart patterns, check out our DailyFX Education section.

Meanwhile, the Moving Average Convergence/Divergence (MACD) continues to linger above the zero-line, suggesting that the bullish narrative pertaining to the SHE Index may continue to hold, at least for now.

SHE (SPDR SSGA Gender Diversity Index ETF) Weekly Chart

ESG Investing Trends to Watch: Gender Diversity (SHE) Index ETF Retreats from All-Time High

Chart prepared by Tammy Da Costa using TradingView

A similar rhetoric can be seen on the daily chart below, with prices now edging towards the lower bound of the channel, whilst still respecting the 50-day Moving Average, providing support at $103.91.

While the uptrend currently holds as the systemic, prominent trend, confirmation of further bearish pressure can be seen once the MACD crosses the zero line.

SHE (SPDR SSGA Gender Diversity Index ETF) Daily Chart

ESG Investing Trends to Watch: Gender Diversity (SHE) Index ETF Retreats from All-Time High

Chart prepared by Tammy Da Costa using TradingView

--- Written by Tammy Da Costa, Analyst for DailyFX.com

Contact and follow Tammy on Twitter: @Tams707

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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