So, you kind of hit the nail on the head with "if" and "purpose". So, this is not an ESG fund (per your link) and more about baked-in filtering/excluding certain parts of the investable universe (with additional criteria), for an SRI (Socially Responsible Investing) approach. At the end of the day, some people simply don't want to profit or invest in certain industries, regardless of the return differential. I would say that's really a personal call, not a financial mistake.