What Do You Give Up with an ESG Alternative of Popular Bond ETFs? As more investors seek to align their societal goals with their financial objectives, it is important to understand what is and is not inside ESG ETFs. Investors building ESG-based ETF portfolios have a growing number of fixed income choices. While just 17 of the 128 ETFs that CFRA classifies as ESG (and offers a star rating on) are fixed income, with nearly half of them (eight) launched within the last three years. There are still some holes in an asset allocation strategy that can be filled in, but investors have additional options to consider when managing ESG-focused portfolios. Indeed, CFRA launched a Global ESG ETF Asset Allocation portfolio at the end of March as part of an expansion of the model portfolios we offer on MarketScope Advisor.