* Thomson Reuters, Fidelity Investments (FMR) as of April 2019. Data as of June 2008 – June 2018. Investment universe made up of top 1000 companies by market capitalization for each time period. Filters include: 1.) companies that have 2 or more gender diversity corporate governance policies in place, according to Thomson Reuters data as of each historical period, and 2.) companies that have 50% or greater female representation in senior management roles according to Thomson Reuters data as of each historical period. Excess returns are defined as equal-weighted returns relative to the sector-adjusted benchmark. Note that the benchmark was modified to avoid sector bias, such that each benchmark sector weighting was adjusted to equate to the sector weightings of companies that meet both of the diversity criteria above. Because diversity metrics are typically reported in Corporate Social Responsibility (CSR) reports within six months after the end of a fiscal year, we post-date fiscal year data to the following June (e.g. June 2009 incorporates fiscal year 2008 data for all companies) to avoid any look-ahead bias.
† Fidelity's 2018 Women and Investing Study was conducted online between September 7th and September 18th, 2018 among 1,172 American women ages 21+. All respondents were employed and actively contributing to an employer-sponsored retirement plan such as a 401(k), 403(b), 401(a) or 457, with an income of $50,000+. For comparison, 300 American men with the same criteria were surveyed. Fidelity Investments was not identified as the sponsor, and the survey was conducted by market research firm CMI.
Content for this page, unless otherwise indicated with a Fidelity pyramid logo, is published or selected by Fidelity Interactive Content Services LLC ("FICS"), a Fidelity company with main offices in New York, New York. All Web pages that are published by FICS will contain this legend.
These links are provided by Fidelity Brokerage Services LLC ("FBS") for educational and informational purposes only. FBS is responsible for the information contained in the links. FICS and FBS are separate but affiliated companies and FICS is not involved in the preparation or selection of these links, nor does it explicitly or implicitly endorse or approve information contained in the links.
The statements and opinions expressed within the articles found in 'Fidelity in the News' are those of the author. Fidelity Investments cannot guarantee the accuracy or completeness of any statements or data.
The trademarks and service marks appearing herein are the property of their respective owners.