Published on 5/11/2022

Popular YouTuber and Financial influencer Graham Stephen recently highlighted some Vanguard ETF’s that he and others think are at a favorable price right now for buyers. Most ETFs are at favorable prices for the long-term right now because of the crazy downturn in the market so far for 2022. Graham is not someone who is recommending investments based on Christian values, but he is someone who has his ear to the ground in the financial world and he makes entertaining content. Therefore, C3 thought it would be a good idea to play off of Graham and take a break from monitoring institutional platforms and do an ethics review on some financial recommendations from an influencer.

Graham listed six ETFs in his video that he thinks people should buy ASAP. Those six ETFs are listed below with a quick blurb on why Graham was recommending them and how they performed when C3 put them through the ethical screening process. None of the ETF’s passed our moral tests but some did do better than others. Below we organized the list from worst to bad to less bad.

Note: Seasoned investors always ask why C3 is so harsh on ETFs? These investors ask this question because when you invest into ETFs you are not directly funding a particular company. The thinking here is that if you buy an ETF with a 5% holding in Amazon that does not mean that Amazon gets 5% of your capital. Amazon is a bit removed from the ETF itself. So, where is the moral issue? The moral issue comes from promotion/publicity of the nefarious holdings of an ETF. When a company is included into an ETF that gives that company more “eye-time.” Companies absolutely benefit from being a part of these big ETFs because it means that institutional players are backing them in some way. As Christian investors, C3 believes that we should not pay any role in promoting or giving positive publicity to any bad acting companies. A short video from our founder Marc details this issue in his own words.


Okay on to the ETF More Ratings…yes, all the below are rated Red, but due to the number of holdings and the percentage of holdings in certain categories some of the below ETFs are definitely worse than others.

  • GOLD = Passed the C3 ethical screening process
  • PURPLE = NUETRAL Rating from C3
  • RED = Failed the C3 ethical screening process



Vanguard SP500 Index Fund (VFIAX) – This fund is the worst on the list from a moral perspective because it consists of all the major companies, but it is probably one of the most financially stable indexes on the list for the same reason. This ETF has had a rough start to the year like most, but that is why Graham and others are talking about it. These major indexes that are trending down are presenting great buying opportunities for wise investors.

LGBT Promotion – 200+ Holdings

LGBT Legislation – 170+ Holdings

Abortion Philanthropy – 12 Holdings

Pornography Production – 10 Holdings

Embryonic Stem Cell Research – 9 Holdings

Abortion Legislation – 6 Holdings

IVF – 7 Holdings

Cannabis/Alcohol/Gambling – 14 Holdings

YTD Return = -15.66%


The Vanguard GROWTH Index (VIGAX) – this Growth index has included 266 companies that have done pretty well as of late (hence it being a growth index). This of course does not mean that the stock price has done well but these companies included in this ETF are growing. Unfortunately, the companies that are growing in today’s world are the bad actors. Therefore, VIGAX got our second worst score on the C3 screening process out of this batch.

LGBT Promotion – 76 Holdings

LGBT Legislation – 76 Holdings

Abortion Philanthropy – 6 Holdings

Pornography Production – 8 Holdings

Embryonic Stem Cell Research – 3 Holdings

Abortion Legislation – 14 Holdings

IVF – 4 Holdings

Cannabis/Alcohol/Gambling – 10+ Holdings

YTD Return = -26.21%


The Total Stock Market Index fund (VTSAX) – over 4,000 different stocks make up this ETF and you can own them all for one low price. This is a great tool for beginner investors who want to get their feet wet. However, if you care about the moral component of investing then this fund is pretty bad. If you own over 4,000 companies, then there is basically a 100% guarantee that you will be promoting and owning some nefarious players. This ETF is currently sitting at what C3 and Graham consider to be a financial bargain.

LGBT Promotion – 300+ Holdings

LGBT Legislation – 250+ Holdings

Abortion Philanthropy – 15 Holdings

Pornography Production – 16 Holdings

Embryonic Stem Cell Research – 13 Holdings

Abortion Legislation – 25 Holdings

IVF – 11 Holdings

Cannabis/Alcohol/Gambling – 35+ Holdings

YTD Return = -17.34%


The Vanguard Global Market Index Fund (VTWAX) – Diversity is the name of the game, and this fund gives you exposure to the global market with just under 10,000 different stocks. The weight of so many different stocks in this ETF had both positive and negative effects on the moral rating we gave to VTWAX. Which is why it is in the middle of the pack (Morally speaking) in this group of Vanguard ETFs.

LGBT Promotion – 300+ Holdings

LGBT Legislation – 250+ Holdings

Abortion Philanthropy – 17 Holdings

Pornography Production – 16 Holdings

Embryonic Stem Cell Research – 12 Holdings

Abortion Legislation – 20+ Holdings

IVF – 10 Holdings

Cannabis/Alcohol/Gambling – 20+ Holdings

YTD Return = -16.79%


The Vanguard International Index Fund (VTIAX) – This international ETF gives investors the ability to participate in Europe Markets, Pacific Markets, the Middle East and even some cool Emerging markets. You have everything in this ETF from Car Manufacturers to video games to uber crucial Semiconductor companies. VTIAX is actually the best when it comes to the C3 ethical screening process out of this batch of ETFs. Mostly because a lot of foreign markets do not participate in the same kind of woke nonsense that the western world does. However, this does not mean that VTIAX receives a passing score in anyway from C3. CCP owned companies, bad corporate governance and the usuals suspects of LGBT and Abortion issues make VTIAX fail the C3 screening process.

LGBT Promotion – 30+ Holdings

LGBT Legislation – 25 Holdings

Abortion Philanthropy – 4 Holdings

Pornography Production – 3 Holdings

Embryonic Stem Cell Research – 7 Holdings

Abortion Legislation – 4 Holdings

IVF – 0 Holdings

Cannabis/Alcohol/Gambling – 6+ Holdings

YTD Return = -16.30%


The Vanguard Real Estate Index Fund (VGSLX) – This index allows you to own bits of companies that own and operate real estate properties (Commercial and residential). If we had a gun to our head and had to invest into one of these ETFs, then VGSLX would be our pick just barely edging out VTIAX. Real Estate is something that C3 can usually get behind but there are still some nefarious activities going in this fund as listed below.

LGBT Promotion – 7 Holdings

LGBT Legislation – 9 Holdings

Abortion Philanthropy – 0 Holdings

Pornography Production – 0 Holdings

Embryonic Stem Cell Research – 0 Holdings

Abortion Legislation – 0 Holdings

IVF – 0 Holdings

Cannabis/Alcohol/Gambling – 4 Holdings

YTD Return = -18.62%


As always, please spend time in Prayer with our Lord Jesus Christ and speak with trusted Friends and Family before making any major Financial Decisions.