Investing in Women CEOs: Performance, Impact, and Opportunity
Please join Kerry Jordan, CFA, President of CFE, for an exclusive conversation with Patricia Lizarraga and John Grenawalt, founders of Hypatia Capital and creators of the WCEO ETF, the only ETF investing exclusively in companies led by women CEOs, for an engaging conversation about early-stage investing, portfolio strategy, and the compelling investment case for backing female leadership.
Our panelists will share:
The Investment Thesis Behind Female Leadership
Patricia and John will explain why their core hypothesis—that women CEOs outperform precisely because it's harder for them to reach the top—has proven true. With the Hypatia Women CEO Index outperforming the S&P 600 by 420 basis points annually since inception, discover what the data reveals about leadership, performance, and the structural barriers that create exceptional talent at the CEO level.
Building a Diversified Portfolio in an Underfollowed Space
Learn how the WCEO ETF achieves meaningful diversification across 163 holdings spanning small, mid, and large-cap companies—from household names like Oracle, AMD, and Accenture to emerging leaders in biotech, industrials, and technology. The panelists will discuss how their industry-neutral, equally-weighted approach provides exposure to a unique factor: 100% women CEO leadership, compared to just 9% in typical small-cap benchmarks.
Understanding Returns in Private and Public Markets
While the WCEO focuses on public markets, this conversation will bridge into early-stage investing. What should newcomers realistically expect in terms of returns, holding periods, and portfolio construction? How do you evaluate founding teams, market positioning, and competitive dynamics? Patricia and John will share practical frameworks for assessing investment opportunities—whether you're writing your first angel check or building a more sophisticated allocation strategy.
Impact Beyond Returns
Investing in women-led companies creates a measurable impact. Companies in the WCEO portfolio have 36% women on their leadership teams and 41% women on their boards, nearly double the small-cap average. The fund also achieves a 5-globe Morningstar Sustainability Rating, reflecting how female CEOs tend to run more balanced, sustainable organizations. We'll discuss how capital allocation can transform leadership pipelines while generating competitive returns.
About the Speakers:
Patricia Lizarraga, Founder and Managing Partner, founded Hypatia Capital in 2007 with a focus on investing in women in leadership. She serves on the boards of Credicorp Ltd. (NYSE: BAP) and Banco de Credito del Peru, where she chairs the Audit Committee. Previously, she served on the board of the John Hancock Group of Funds. Patricia holds a B.A. from Yale and an M.B.A. from Harvard.
John Grenawalt, Chief Operating Officer, led the creation of the Hypatia Women CEO Index (calculated by S&P Global) and manages portfolio operations. He holds a B.S. from Cornell and Series 65 credentials.
