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DMCY on the NYSEInvesting in Democracy

The Democracy International Fund ETF (ticker DMCY) is an index strategy that is weighted toward democracies and away from authoritarianism, giving investors international exposure to more democracy and less geopolitical risk.

Our Mission

Provide investment strategies that advance democracy globally


An Exclusive Partnership

Democracy Investments holds an exclusive license agreement with the publisher of "The Economist," The Economist Group, LTD, for the use of their Democracy Index for financial products globally.

In our view, The Economist’s Democracy Index is the most respected, objective, and transparent measure of democracy in the world.

A Democracy Portfolio Weighting

We use The Economist’s Democracy Index as an overlay to create an index that is the product of both market capitalization and democracy weightings.

All World Ex US Index
Starting Universe
The Economist's Democracy Index
Exclusive License Overlay
Democracy Investments International Index®
New Democracy Weighted Index

Our proprietary methodology results in a new democracy weighted index that aligns the portfolio with country democracy scores, resulting in higher allocations in democratic countries and lower in authoritarian regimes.

Our product enables investing in democracy and values such as freedom of speech, fair elections and human rights, while enjoying similar returns to a typical international equity portfolio.

Recent News and Insights


The Ten to Watch in 2024

By Patrick Donachie, Informa -

December 18, 2023 interviews Julie Cane on her thesis that democracies will perform better over the long run and recognizes Democracy Investments as an innovator set to change the industry in 2024.

April 24, 2024

Democracy as a Factor in International Investing

Hosted by Bob Huebscher, Vettafi Advisor Perspectives

Gaining Perspective Podcast

Julie Cane and Chris Browne discuss the cost of corruption, geopolitical risk, and whether investors should ride the US stock momentum or transition to sectors that may represent greater value and potential higher forward expected returns.

November 08, 2023

Latest Insights with Leaders in ETFs

With Jenny Johnson, President and CEO

Franklin Templeton

CEO and Advisory Board Member Jenny Johnson joins Julie Cane, Patricia Lizarraga, and Amrita Nandakumar for an engaging discussion on the history and trends in ETFs, Franklin Templeton’s product strategies, and the inspirations behind launching new strategies in the growing marketplace.

September 30, 2023

Investing in Freedom

With Rusty Vanneman, CMT, CFA, CIO of Orion

The Weighing Machine Podcast

Julie talks to Rusty and Robyn about how global democracies impact the markets and shares perspective on international investing, shedding light on the benefits of transparency, stability, and a commitment to freedom.

Disclosure: These videos represent an assessment of the market environment at a specific point in time and are not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the viewer as research or investment advice regarding the Fund or any security in particular.


The Compelling Case for International

By Christopher Browne, Democracy Investments

September 21, 2023

Democracy Investments’ Chief Investment Officer Christopher Browne, CFA, shares new data on international stock valuation, the benefits of diversification, and highlights global trade restructuring as we see the world beginning to bifurcate along distinct lines between the West and the BRICS.


Advancing Democracy

By Democracy Investments

September 8, 2023

Democracy Investments now has two and half years of track record. Read our latest update here to learn more about our strategy, methodology and the team that is leading the Democracy International Fund.

© 2023 Democracy Investments LLC. All rights reserved.