Every category of mutual fund is in the red this year, said Sam Mamudi in MarketWatch, “but one area that has held up better than most is socially responsible investing.” According to Morningstar, 15 out of the 91 funds that screen stocks based on certain moral and ethical standards have outpaced the Dow by more than 10 percentage points. Perhaps if you look for good corporate governance, you end up with more risk-averse companies.

Certainly, trading in the $96 billion carbon credits has been a good investment, said Fortune’s Marc Gunther in CNNMoney online. For 2008, through Oct. 15, an index of carbon credits has grown 5.4 percent. And unlike many investments, it has real growth potential, especially if the U.S. starts regulating greenhouse gasses.

And don’t forget recycling, said Rachael King in BusinessWeek online. Used computers and other IT equipment are becoming hot commodities as “the credit squeeze and economic slowdown force companies into bankruptcy” or layoffs. At the same time, “other businesses are looking for gently used machines on the cheap.” It’s a win-win.