A spate of recent launches has given sustainable investors a greater range of diversified choices within the U.S. ETP universe. As interest in sustainable investing has increased, U.S. exchange-traded products have moved to offer more diversified options. For years, the vast majority of ETPs in the space were alternative energy and water portfolios, virtually all of which were launched between 2005 and 2009. Those 17 offerings today have $2.3 billion in assets (see Exhibit 1) but have experienced modest flows in recent years. Given recent performance issues and the general difficulty of fitting them into a traditional allocation, net flows to alternative energy are modestly positive and net flows to water are negative.