SHE ETF Hits a New 52-Week High Driven by Growing ESG Investing Trends in Gender Diversity-Focused Strategies

ETF Overview and Capital Flows

The State Street SPDR MSCI USA Gender Diversity ETF (SHE.P) tracks a market-cap weighted index of U.S. large- and mid-sized companies prioritizing gender diversity across organizational levels. Structured as a passive equity fund, it focuses on firms with higher female representation in leadership and workforce roles. Recent capital flow data shows a net outflow of $34.6 million on January 2, 2026, driven by declines in both block and extra-large orders. This contrasts with its long-term investment objective, which emphasizes ESG criteria centered on gender equity.

Peer ETF Snapshot

• AAA.P has $42M in assets and a 0.25% expense ratio with 1.0x leverage.
• AFIX.P holds $178M in AUM and charges 0.19% annually with no leverage.
• AGGH.P manages $305M at a 0.3% expense ratio, also unleveraged.
• AVIG.P commands $2B in assets with a low 0.15% fee and no leverage.
• AGG.P, the largest peer, has $136B in AUM and the lowest expense ratio at 0.03%.
• AGGS.P has $37M in assets but the highest fee at 0.35%.

Opportunities and Structural Constraints

SHE.P’s niche focus on gender diversity positions it to benefit from growing ESG investing trends, though its 0.2% expense ratio sits above the peer median. The fund’s recent outflows highlight liquidity challenges common to specialized ETFs. Larger peers like AGG.P offer scale and lower costs but lack SHE.P’s thematic focus. At the end of the day, SHE.P balances a compelling social mandate with structural constraints typical of niche equity strategies.