“But when portfolios are not cap-weighted, green-oriented investments do better, the firm finds…

Part of that may be because the ESG funds and the Russell 1000 all hold the same stocks in their top 10, with Big Tech a common theme: Apple, Microsoft, Alphabet, etc.”

[COMMENTARY] Yes, in reality, most large-cap ESG funds mostly mirror their non-ESG counterparts. That’s why you need to look at the small-cap or sector-specific ESG funds to get better differentiation.

Better still, create your own ESG portfolio. See my DIY Ethical-Sustainable Pays Tutorial for help with that.
ESG, Non-ESG Investing Returns Differ Minimally, Says Research Affiliates, by Larry Light, May 2, 2023, Chief Investment Officer, USA.