100 best money moves

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Move 93: Do good with these funds
Move 93: Do good with these funds
Investors in the nation's nearly 500 socially conscious funds (up from 260 in 2007) often accept lower returns to keep their money where their ethics are.

But according to a recent Missouri State University study, over the past 10 years such funds have beaten regular funds in two categories: balanced and fixed income and balanced (which hold stocks and bonds).

"The limitations created by [socially conscious] investing may have less of an effect because these categories are already more conservative," says study co-author C. Edward Chang.

Morningstar's David Kathman names two standout choices:

Pax World Balanced (One-year return: 13.1%; expense ratio: 0.96%) invests in stocks and bonds of companies that hew to strict environmental and workplace safety standards.

CRA Qualified Investment (One-year return: 3.1%; expense ratio: .96%) holds bonds that support affordable housing or promote development in low-income areas.

NEXT: Move 94: Follow these blogs
Last updated April 28 2011: 11:32 AM ET
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