Miljöfonder eller hållbara fonder, vilka presterar bäst?

Sammanfattning: During the last couple of years the United Nations has increased its focus on sustainability and combating climate issues through Agenda 2030 and the Paris Agreement. Simultaneously, new investments in sustainable funds and environmental funds have increased greatly. As more investments are targeting sustainable funds and environmental funds, this thesis aims to investigate if there are any statistical significant differences between their risk, returns and risk-adjusted returns. Two different portfolios are created. The environmental portfolio contains 11 environmental funds with 4 or 5 globes in Morningstar sustainability rating. The sustainable portfolio contains 11 sustainable funds with 5 globes in Morningstar sustainability rating. No statistical significant differences between the portfolios risk, returns and sharpe ratios are found. However, it is statistically significant that the sustainable portfolio has a higher treynor ratio than the environmental portfolio. In contrast the environmental portfolio performs better in terms of Jensen’s alpha. As a conclusion, this study finds that there are no statistically significant differences between environmental funds and sustainable funds risk and returns and that the risk-adjusted measurements are inconclusive in its results. Therefore, investors that only consider risk and returns should be indifferent between investing in environmental funds or sustainable funds.