BlackRock is looking to do some good while doing well at the same time with its latest values-based exchange-traded fund focusing on human rights.

The fund, dubbed the iShares Human Rights Index, will follow the MSCI All Country World Index but will exclude companies that have economic associations with countries or regimes implicated in serous human rights violations such as activities that result in widespread death, torture, rape, slavery, forced labor, and forced displacement of communities, according to the iShares' filing with the U.S. Securities and Exchange Commission.

As of December 31, 2011, the Underlying Index was comprised of 8,905 securities in 45 countries. However, companies with substantial economic associations with repressive regimes with poor human rights records, such as Sudan, Iran and Burma, are excluded.

Rene Casis, Diane Hsiung and Greg Savage, all of BlackRock Fund Advisors, are responsible for the day-to-day management of the fund.

The filing doesn’t include information about the management fees planned for the fund.

BlackRock already has at least two other socially responsible index funds: the iShares MSCI KLD 400 Social Index Fund, which follows the Domini 400 Social Index, and the iShares MSCI USA ESG Select Social Index Fund, which invests in companies deemed to have a positive impact to society and the environment.

Tommy Fernandez writes for Money Management Executive.