ROC Investments Launches the World’s First ‘Return On Character®’ ETF

REDDING, Calif.–(BUSINESS WIRE)–ROC Investments today launched the world’s first ETF composed of companies exclusively selected based on the behaviors of their CEO and senior executive teams, the ROC (Return On Character®) ETF (Cboe: ROCI).

ROC seeks long-term capital appreciation by investing in character-led organizations. ROC Investments, the manager of the strategy, believes the market consistently misprices the value of exceptional character over the long-term, by not measuring it at all. ROC Investments has built an actively managed strategy to invest solely on the basis of the character of corporate leadership. The core strategy will be to identify and buy U.S. companies with management behavior that exemplifies the highest level of character.

“The four pillars of ROC’s character model – Integrity, Responsibility, Forgiveness, and Compassion – are the same principles parents seek to instill in their children, and yet they are often found lacking in the financial world. Far more than exterior characteristics like education, tenure, politics, age, industry or religion, it is these interior traits that determine character. Our hope is that the ROC ETF will show that not only does character matter, but it is the best way to live and invest,” said Dan Cooper, Founder and CEO of ROC Investments.

ROC is based on groundbreaking academic research by global consulting firm KRW International, which found a consistent, observable and measurable relationship between senior leadership character and an organization’s ability to execute its strategy. Leadership teams with high character scores showed higher profitability (as measured by return on assets), higher workforce engagement and lower levels of corporate risk.

The fund’s portfolio will generally hold 75 to 150 stocks with the highest Composite Character Scores, weighted to mirror the return profile of traditional, broad-based U.S. securities. Weightings will be evaluated and modified quarterly, and character scores will be re-evaluated on an annual basis.

About ROC Investments

ROC Investments is a California-based investment company whose focus is to be the market leader in measuring the character habits of public company senior leadership, believing the “character factor” to be one of the most important indicators for the long-term success of a company. For more information, please visit


Exchange Traded Funds (ETFs) are bought and sold through exchange trading at market price (not NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.

The fund is an actively managed Exchange Traded Fund (ETF) that does not seek to replicate the performance of a specified index. To determine whether to buy or sell a security, the portfolio managers consider, among other things, various fund requirements and standards, along with economic conditions, alternative investments, interest rates and various credit metrics. If the portfolio manager considerations are inaccurate or misapplied, the fund’s performance may suffer.

Applying character scores to the investment process may exclude securities of certain issuers for non-investment reasons and therefore the Fund may forgo some market opportunities available to funds that do not use these criteria. As a result, at times, the Fund may underperform funds that are not subject to similar investment considerations.

Investing in securities of medium-capitalization companies involves greater risk than customarily is associated with investing in larger, more established companies. These companies’ securities may be more volatile and less liquid than those of more established companies.

The Fund is a recently organized, diversified management investment company with limited operating history.

Before investing you should carefully consider the fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained from Please read the prospectus carefully before you invest.

The ROC ETF is distributed by Quasar Distributors, LLC


Tucker Hewes, Hewes Communications, Inc., (212) 207-9451,


Published on March 24, 2022

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