Behind the Ticker: Crossmark's Values-Based ETFs

Bob Doll joined host Brad Roth on Behind the Ticker to talk about his long run in asset management, including decades as a chief equity strategist and CIO at firms like Nuveen and BlackRock before "retiring" and immediately coming back to lead Crossmark Global Investments as CEO and CIO. Doll explained Crossmark's roots in values-based investing date back to 1987, and how the firm's approach differs from typical ESG investing through its "avoid, embrace, engage" framework that excludes companies that harm society, rewards those that treat employees and communities well, and engages with companies on the fence to encourage change.

The bulk of the conversation centered on Crossmark's two ETFs, the Crossmark Large Cap Growth ETF (CLCG) and the Crossmark Large Cap Value ETF (CLCV), which launched in July 2025 as some of the first actively managed, faith-based large cap products in the ETF space. Doll walked through the strategy's construction that uses a 75% quantitative multi-factor score blended with a 25% values-based score, and is rerun daily. He also noted that return on equity and price-to-free-cash-flow are currently the most important factors given a long economic cycle and elevated valuations. The conversation also touched on sector positioning, including overweights in financials (driven by cheap valuations, deregulation tailwinds, and healthier bank balance sheets) across both funds, along with underweights in consumer staples and healthcare.

Looking ahead, Doll noted that value has outperformed growth so far this year after a long stretch the other way around, and that he sees a case for better balance in portfolios. He flagged inflation as the key variable to watch heading into 2027, since the Fed has now missed its 2% target for six straight years. On the business side, he said Crossmark sees ETFs as essential to the firm's future and plans to roll out more products once CLCG and CLCV are well-established.

Learn more about Crossmark Global Investments here.

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