What would Jesus buy?

That question is spreading in the investing world, as evangelicals and other Christians seek investment management and financial planning to match their interpretation of biblical principles. The latest sign of the rise of faith-based investing was the launch of the Inspire International ESG exchange-traded fund on Sept. 30. Its ticker symbol? WWJD, short for the popular expression “What would Jesus do?”

Many socially responsible investors favor companies that recruit LGBT workers or donate to Planned Parenthood and the like. By contrast, biblically responsible investors shun companies that profit from or support abortion, pornography, gambling, or LGBT issues.…