CEFA excludes companies involved in activities perceived to be inconsistent with Catholic values as set out by the U.S. Conference of Catholic Bishops, including screens for weaponry and child labor.

By matching sector weightings, CEFA seeks to minimize tracking error to the S&P EPAC ex-Korea Large Cap Index (a benchmark for developed markets outside of the U.S.).

CEFA allows investors to buy and sell a broad basket of global equities that conform with Catholic guidelines, with the tax efficiency of an ETF.