VIRTUE VS. VICE
You don’t always do well when doing good. The oldest socially responsible fund, PAXWX (Pax Sustainable Allocation), founded in 1971, is up about 17% over the past decade. The more sinful VICEX (USA Mutuals Vitium Global Investor), which invests in casinos, gun makers, booze companies and Big Tobacco, has done four times better over that period. But both have underperformed the broader market. Maybe those “all things in moderation” killjoys were right after all.