Unsplash photo by Aaron Burden
With the lessening of the pandemic in the United States, the economy appears to be heading in the right track. While overall job numbers are rising, it’s especially good to see positive employment data for a critical but often forgotten component of our workforce: veterans. According to the United States Department of Labor, the unemployment rate for veterans of the United States Armed Forces was 4.4 percent in May 2021, down from 5.3 percent in April (1). In comparison, the nonveteran unemployment rate fell in May, but it is still more than a full percentage point higher than the veteran unemployment rate, at 5.8%.
Of fact, veterans were not immune to the economic repercussions of COVID-19. That is not the case. According to a news release from the US Bureau of Labor Statistics titled the Employment Situation of Veterans (2), unemployment rates for male and female veterans in 2020 climbed during the pandemic to 6.5 percent and 6.7 percent, respectively.
Fortunately, the approaching months offer promising indicators for veterans who are unemployed or looking for better opportunities, as the job market continues to strengthen. Indeed, many businesses are having difficulty filling available positions, and the scarcity of talent is frequently highlighted as a barrier to expansion. One strategy they can consider is utilizing the skills and experience of veterans.
Some companies are doing just that, and a few are even making it a corporate priority to hire veterans. These are the top 10 holdings, which include household firms like Capital One Financial Corp. (NYSE: COF), Home Depot Inc. (NYSE: HD), and AT&T Inc. (NYSE: T).
Ticker
Name of the Organization
Weight
AMZN
Amazon.com, Inc. is a company that sells products on the internet.
2.13
CDW
CDW Corporation (CDW) is a company that specializes in
2.02
ACN
Accenture Plc is a Class A company.
2.01
MRK
Merck & Co., Inc. is a pharmaceutical company based in New Jersey.
1.97
ETN
Eaton Corporation Plc
1.96
MMC
Marsh & McLennan Companies, Inc. is a firm that specializes in risk management.
1.95
HUM
Humana Inc. is a health-care company based in the
1.94
BAH
Class A Booz Allen Hamilton Holding Corporation
1.93
PCG
PG&E Corporation is a company that produces electricity.
1.93
DVA
DaVita Inc. is a company that produces vitamins and supplements.
1.93
Holdings are current as of June 30, 2021, and are subject to change at any time.
Helping our veterans is right, and it also makes good financial sense, given the values, diversity, and experience that veterans can provide to corporate employers. There is a way to allocate to companies with some of the best recruiting procedures and programs for veterans for those investors who think that’s a good idea—both on principle and for its commercial sense. The VictoryShares Top Veteran Employers ETF (VTRN), which tracks the Veterans Select Index, is an exchange-traded fund that allows you to participate in companies that are actively recruiting, hiring, and developing veteran employees. The Veterans Select Index is a proprietary index that “tracks the performance of publicly traded companies that employ U.S. military veterans.” This index considers several aspects of the overall company climate toward veterans, such as culture, policy, and accommodations for veterans and their families, in addition to hiring processes.
(1) www.dol.gov/agencies/vets/latest-numbers
(2) See https://www.bls.gov/news.release/vet.nr0.htm for more information.
Before investing, carefully evaluate the fund’s investment goals, risks, charges, and costs. Visit www.vcm.com/prospectus to get a prospectus or summary prospectus containing this and other essential information. Before you invest, make sure you read it well.
Investing entails risk, which includes the possibility of losing money. The risks associated with the Fund are the same as those associated with the underlying assets traded on the exchange throughout the day. There are a limited number of redemptions, and charges are frequently levied on each trade. ETFs can trade at a discount or a premium to their net asset value. Regardless of their investing qualities, the Fund invests in securities that are included in, or are reflective of, the Index. The Fund’s performance may differ from that of the Index. International investments may expose you to the risk of losing money due to unfavorable currency fluctuations, variances in generally accepted accounting rules, or economic or political instability in other countries. Investments that are concentrated in a single industry or group of industries may be more risky and volatile than those that are more widely diversified across industries or sectors.
Changes in government policy and spending, as well as unfavorable economic conditions and industry consolidation, may have a negative impact on aerospace and defense investments. Geopolitical risks like as wars, terrorism, environmental disasters, and public health crises; the danger of technology malfunctions or disruptions; and government and/or individual company responses to such events all affect the value of your investment. Fund holdings and sector allocations are subject to change, may deviate from the Index, and are not intended to be taken as financial advice.
VETS Indexes LLC created the Veterans Select IndexSM, which tracks the performance of publicly traded companies that support U.S. military veterans.
Nasdaq is a registered trademark of Nasdaq, Inc. and its affiliates (collectively, “Nasdaq”), and Victory Capital has been granted permission to use it. Nasdaq does not issue, recommend, sell, or promote the product(s). Nasdaq makes no representations or warranties about the product’s legality or fitness, and accepts no responsibility for it (s).
Foreside Fund Services, LLC is the distributor (Foreside). Foreside is not linked with Victory Capital. Victory Capital Management Inc 20210707-1699210 (C) 2021 Benzinga.com Benzinga does not offer financial advice. All intellectual property rights are reserved./n
