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NOW AVAILABLEA New Way to Advance Democracy Worldwide

The Democracy International Fund incentivizes democracy by influencing capital flows in financial markets. Our international equity portfolio is similar to other international equity index products, except it is weighted toward democracy and away from authoritarianism, with the intention of increasing the economic growth of democratic countries and the reverse for authoritarian states.

Our Mission

Shift capital flows to promote democracy and create market-based incentives for democratic reforms.


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 objective and transparent measure of democracy in existence.

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.

In short, our product is a way for investors to feel good about 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


December 14, 2022

Investing in Authoritarian States and the Rising “Coalition of the Sanctioned”

With Keith Black, Managing Director

RIA Channel

Julie Cane, CEO, and Rick Rikoski, Chief Economist, discuss the investment environment in authoritarian states compared to democracies, the BRICS "coalition of the sanctioned," and our passion for our mission at Democracy Investments.

December 12, 2022

Central Planning Increases Economic Inefficiency, Black Markets and Corruption

With host Jeff Gitterman, ETF Rundown

NYSE & Fintech TV

Julie Cane, CEO, and Rick Rikoski, Chief Economist, are interviewed by Jeff Gitterman to provide an update on Democracy Investments and discuss the latest developments in China, Russia, and Ukraine.

August 11, 2022

Advancing Democracy Worldwide with Your Investment Dollars

With Cathy Curtis, CFP, Financial Finesse

Financial Finesse Podcast

Cathy Curtis, CFP of Financial Finesse, interviews the Democracy Investments team to learn more about their mission, strategy, current events, and how DMCY may add value to your portfolio.

March 27, 2022

The Crisis in Ukraine and the Importance of Taking Action Now to Support Democracy

With host Vince Molinari, ETF Rundown

NYSE & Fintech TV

Julie Cane, CEO, and Rick Rikoski, Chief Economist, are interviewed by Vince Molinari, host of the new ETF Rundown series. The discussion includes the Ukraine crisis and how investors can take action now.

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.


Your Portfolio May Be Contributing To Authoritarian Aggression

By Christopher Browne, Democracy Investments

March 11, 2022

Democracy Investments’ Chief Investment Officer Christopher Browne, CFA, discusses portfolio influences on foreign policy and makes the investment case for tilting toward Democracy in passive international indices.


Advancing Democracy

By Democracy Investments

February 3, 2023

Despite expectations of a rebound after the lifting of pandemic-related restrictions, the scores were almost unchanged compared with 2021. The positive effect of the restoration of individual freedoms was cancelled out by negative developments globally. The scores of more than half of the countries measured by the index either stagnated or declined. Western Europe was a positive outlier, being the only region whose score returned to pre-pandemic levels.


Democracy Investments Doubles AUM with Support from ETF Expert Ed Rosenberg

January 24, 2023

Democracy Investments International Fund ETF assets under management doubled to $10.5 million on Jan 23, 2023, thanks to new minority firm owner Ed Rosenberg


Democracy Investments Announces Jenny Johnson and Michael Levas to Join Advisory Board

December 16, 2021

Democracy Investments, advisor to the Democracy International Fund ETF (ticker DMCY), today announced that Jenny Johnson and Michael Levas will become members of its new advisory board to support the firm’s focus on advancing democracy with innovative financial products.


Democracy Investments Launches First Product, the Democracy International Fund (DMCY) ETF

April 05, 2021

Democracy Investments, a new company focused on promoting democracy by influencing capital flows in financial markets, announced the launch of their first product, the Democracy International Fund (DMCY) ETF.

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