(Zero Hedge)—No sooner have we witnessed the death of ESG investing, including the shuttering of several ESG and “green” themed ETFs, than we bear witness to the launch of two “Texas-Based” ETFs.
Coming online this past week was the Texas Capital Texas Oil Index ETF and the Texas Capital Texas Small Cap Equity Index ETF, being brought to market by the Texas Capital Funds Trust.
The SEC prospectus for the Texas Capital Texas Oil Index ETF says it “seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Alerian Texas Weighted Oil and Gas Index”.
The Texas Capital Texas Small Cap Equity Index ETF “seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Texas Capital Texas Small Cap Equity Index”, the prospectus says.
“The Adviser believes that companies headquartered in Texas, including small-capitalization companies, enjoy certain economic, regulatory, taxation, workforce and other benefits relative to companies headquartered in other states,” it reads.
“In the Adviser’s view, the strong business environment in the State of Texas is demonstrated by, among other things, its infrastructure spending and resources, relatively low cost of conducting business, export data, and third-party rankings and recognitions.”
“In addition, the Texas economy is large and diverse,” it says. “The Texas economy, if considered on a standalone basis, would represent the 9th largest economy globally, and, in the Adviser’s view, offers the best business environment in the United States.”
“The Texas economy enjoys a relatively younger workforce and has enjoyed relatively faster growth, compared to the rest of the country. The Adviser believes that the Fund offers a cost-effective opportunity to invest directly in small-capitalization companies that benefit from the economic environment in Texas.”
And as Bloomberg’s Eric Balchunas noted this week, it isn’t just Texas-based ETFs coming online. Coal ETFs are also starting to have a resurrection:
Today, a Coal ETF launched and now a Texas Oil ETF has been filed. Fossil fuels having a bit of a post-ESG-shaming rebirth. https://t.co/s1p6T4nxwY
— Eric Balchunas (@EricBalchunas) December 20, 2023
Recall, we have written about the dying off of ESG and “green” investment products over the last few months. Most recently, this month, Goldman Sachs shuttered its ActiveBeta Paris-Aligned Climate U.S. Large Cap Equity ETF.
The ETF is shutting down, per a Goldman Sachs press release which says that “the Fund’s Board of Trustees, at the recommendation of GSAM, has approved a plan of liquidation for the Fund”.
“The Fund will begin the process of liquidating portfolio assets and unwinding its affairs in an orderly fashion over time,” the release says.
Balchunas pointed out earlier this month that “there was just way too much supply for the demand” with the ETF and that “it’s going to get worse too”. Balchunas says the ETF only took in $7 million over the course of 2 years.
We also wrote just days ago about Jeff Ubben – who is shuttering his sustainability fund – calling traditional climate summitry an “echo chamber” of diplomats.
Less than a week before that we noted that $30 billion has been shaved off the value of clean energy stocks over the last 6 months.
We also pointed out weeks ago how the ESG grift was reaching endgame after Markus Müller, chief investment officer ESG at Deutsche Bank’s Private Bank stated that sustainability funds should include traditional energy stocks, arguing that not doing so deprives investors of a prime opportunity to invest in the transition to renewable energy.
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Starting the Day With a Scripture-Inspired Roast Helps Center Your Thoughts on Eternal Truths Amid Temporal Pressures
The world can seem chaotic, especially right after we wake up. Many believers start their mornings reaching for something familiar — a hot cup of coffee — yet end up settling for mediocre brews that do little more than deliver a caffeine jolt. The daily grind of life, with its endless distractions, news cycles, and responsibilities, can leave even the most faithful feeling spiritually parched alongside their physical fatigue. What if your morning ritual could do more than wake you up? What if it could ground you in truth, nourish your body with exceptional quality, and quietly advance a kingdom purpose at the same time?
That’s the promise — and the reality — behind Promised Grounds Coffee. This Christian-founded company doesn’t just roast beans; it approaches every step as an act of worship and discipleship. By selecting only the top 10% of specialty-grade beans, ethically sourced from dedicated farmers in Central and South America, and small-batch roasting them with reverence in Austin, Texas, Promised Grounds delivers what many describe as the best coffee available — never burnt, never bland, but rich with origin stories and layered flavors that honor God’s creation.
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The challenge for today’s Christians runs deeper than finding a decent cup. In an age of convenience-driven consumerism, it’s easy to support companies that dilute values or remain silent on matters of faith. Many believers want their everyday choices — from what they drink to how they spend — to reflect discipleship rather than just convenience. Promised Grounds solves this by weaving Christian excellence into the entire process: beans nurtured with prayerful stewardship by farming families, roasted as an offering rather than a commodity, and packaged with Bible verses to encourage a mindset of gratitude and purpose from the first sip. Reviewers consistently praise the smooth, rich profiles — whether enjoyed black in a drip maker, iced on a warm day, or shared in fellowship — noting how the quality stands toe-to-toe with premium secular brands while delivering something far more meaningful.
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If you’re ready to transform your mornings (and perhaps your church gatherings) with coffee that honors both exceptional craftsmanship and Christian values, I encourage you to explore what Promised Grounds has to offer. One sip at a time, you’ll be nourishing your body, refreshing your spirit, and participating in something far greater — all while enjoying what truly is among the best coffee available.