DWS Group on Thursday launched the Xtrackers S&P 500 ESG ETF (SNPE), billed as the first exchange-traded fund that takes an ESG approach to the S&P 500 index.

Specifically, the fund tracks the S&P 500 ESG Index providing exposure to companies with high environmental, social and governance performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500 Index.

The index excludes companies involved with tobacco and “controversial weapons,” which entails cluster weapons, landmines (anti-personnel mines), biological or chemical weapons, depleted uranium weapons, white phosphorous weapons and nuclear weapons.

It also excludes companies with disqualifying U.N. Global Compact scores pertaining to human rights, labor rights, the environment and anti-corruption.

The finished product is a portfolio of 319 securities. To show how inexact the ESG definition can be, ExxonMobil is among the fund’s largest holdings, according to fund literature. Some ESG aficionados shun Exxon and any company involved with fossil fuels.

The fund’s expense ratio of 0.11 percent is just two basis points more than the SPDR S&P 500 ETF (SPY), but is seven basis points more than both the iShares Core S&P 500 ETF (IVV) and Vanguard S&P 500 ETF (VOO). Of course, none of those funds screen for ESG criteria, so the Xtrackers product comes at a good price point for ESG-inclined investors.

This is the fifth product in DWS Group’s suite of ESG-focused Xtrackers ETFs (the company’s overall Xtrackers lineup comprises 38 ETFs). The first fund in this group launched last September, and the overall ESG suite now has roughly $1.2 billion in assets. The vast majority of those assets reside with the Xtrackers MSCI USA ESG Leaders Equity ETF (USSG), which invests in large- and mid-cap U.S. companies chosen for their ESG performance vis-à-vis their sector peers. That fund launched in March and already has $1.18 billion in assets thanks in large part to a massive investment by Ilmarinen, Finland’s largest pension insurance company.

That fund was developed in collaboration with Ilmarinen, which says sustainability and ESG considerations are a key part of its investment strategy for pension assets.