The point of these broad ETFs is that they include everything. Let the market decide. Of course they should own one of the largest public companies in the world. They're changing the rules on inclusion because the ipo is unprecedented and not owning it because [reasons] would be a dereliction of their duties.

You want an ESG fund

Also I dont see how weapons companies are harmful. Unless you're so naive to think defense is not a thing any person or country has to worry about in 2026

> Let the market decide... They're changing the rules on inclusion ...

You have the market deciding and the rules changing in the same paragraph and nothing's bothering you. I genuinely envy your peace of mind, my friend. Some of us are truly blessed.

I think their point is not the ESG component, but firms with traditionally irrational valuations (à la GameStop) for which index inclusion exceptions have been made to facilitate short term liquidity for IPO participants. Seems as though one should be able to hold the broad market less that component.

> Let the market decide. Of course they should own one of the largest public companies in the world.

The pension fund is the customer here. The market is already deciding. You're free to invest your own money as you see fit. The pension fund's money is not yours to decide what to do with.

Let the market decide what, though? What the market cares about may be different from what you care about, if the average investor has a higher tolerance for risk that you do. For pension funds, long term stability is key. A wide spread of large companies has traditionally been a good way to achieve that, but that isn’t guaranteed.