Finance
Vatican bank teams with Morningstar on Catholic stock indexes
Published by Global Banking & Finance Review®
Posted on February 10, 2026
2 min readLast updated: February 10, 2026
Quick Summary
The Vatican Bank and Morningstar have launched equity indexes that align with Catholic principles, marking a significant step in socially responsible investing.
Vatican Bank Partners with Morningstar to Launch Catholic Stock Indexes
Introduction to Catholic Stock Indexes
VATICAN CITY, Feb 10 (Reuters) - The Vatican bank has joined with Morningstar to launch two new equity indexes for stocks aligned with Catholic values, the two entities said on Tuesday, in an unusual collaboration between the Vatican and the financial sector.
Details of the New Indexes
The bank, officially known as the Institute for the Works of Religion (IOR), said the indexes would each include 50 medium- and large-cap companies consistent with Catholic teachings on life issues, social responsibility and environmental protection.
Background on Vatican Bank's Reputation
The new equities are Morningstar IOR US Catholic Principles and Morningstar IOR Eurozone Catholic Principles.
Financial Performance of the Vatican's Investments
Top holdings in the euro zone fund, according to Morningstar, include semiconductor supplier ASML Holding, Deutsche Telekom and software company SAP.
Socially responsible investing has grown in recent decades. Ave Maria Mutual Funds, a U.S. fund family that makes investments according to Catholic principles, said it had $3.8 billion in assets under management in 2025.
The joint venture between Morningstar and the Vatican bank follows efforts to clean up the reputation of the bank, which was tarnished in past decades by allegations of corruption, embezzlement, money laundering and other crimes.
The late Pope Francis, who died last year, enacted a series of reforms to address those issues.
The Vatican also maintains its own investment portfolio. It earned 38.1 million euro ($45.41 million) in profit from investments in 2024, according to its latest financial statement.
($1 = 0.8391 euros)
(Reporting by Joshua McElwee, editing by Alvise Armellini)
Key Takeaways
- •Vatican Bank partners with Morningstar for new index funds.
- •Funds align with Catholic principles on social responsibility.
- •Indexes include 50 medium- and large-cap companies.
- •Efforts follow Vatican Bank's reputation reforms.
- •Socially responsible investing is on the rise.
Frequently Asked Questions about Vatican bank teams with Morningstar on Catholic stock indexes
1What is socially responsible investing?
Socially responsible investing (SRI) is an investment strategy that considers both financial return and social/environmental good, often aligning with ethical guidelines.
2What are index funds?
Index funds are mutual funds or exchange-traded funds (ETFs) designed to follow specific benchmarks or indexes, providing broad market exposure and lower costs.
3What are equity indexes?
Equity indexes are statistical measures that track the performance of a specific group of stocks, reflecting the overall market or a particular sector.
4What is the significance of Catholic principles in investing?
Investing according to Catholic principles involves aligning investment choices with the ethical and moral teachings of the Catholic Church, focusing on social responsibility.
