NACP vs. CZAR ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to Themes Natural Monopoly ETF (CZAR)

NACP

Impact Shares NAACP Minority Empowerment ETF

NACP Description

The investment seeks investment results that, before fees and expenses, track the performance of the Morningstar Minority Empowerment Index (the underlying index). The fund will, under normal circumstances, invest at least 80% of its total assets, plus borrowings for investment purposes (the "80% basket") in component securities of the underlying index ("Component Securities"). The underlying index is designed to measure the performance of large and mid- capitalization companies that are "empowering to minorities," and to exhibit risk and return characteristics similar to those of the Morningstar US Large-Mid Cap ® Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$42.72

Average Daily Volume

3,518

Number of Holdings ^*

197

* may have additional holdings in another (foreign) market

CZAR

Themes Natural Monopoly ETF

CZAR Description

The index is designed to provide exposure to companies in the large- and mid- capitalization segments that exhibit a strong competitive advantage in their respective sector. The fund will invest, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities that comprise the index and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$29.85

Average Daily Volume

322

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	NACP	CZAR
30 Days	2.08%	1.67%
60 Days	4.48%	1.36%
90 Days	6.57%	3.36%
12 Months	32.92%

19 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in CZAR	Overlap
AME	A	0.13%	1.01%	0.13%
AXP	A	0.56%	3.46%	0.56%
BMY	B	0.35%	2.61%	0.35%
CVX	A	1.04%	0.67%	0.67%
DGX	A	0.06%	0.31%	0.06%
ECL	D	0.21%	0.39%	0.21%
EXC	C	0.15%	0.49%	0.15%
FDX	B	0.25%	0.36%	0.25%
GILD	C	0.35%	2.49%	0.35%
KO	D	0.99%	0.98%	0.98%
MA	C	1.4%	0.53%	0.53%
META	D	3.63%	3.57%	3.57%
PEP	F	0.92%	1.0%	0.92%
T	A	0.45%	0.32%	0.32%
UBER	D	2.29%	0.37%	0.37%
V	A	1.53%	0.52%	0.52%
VMC	B	0.12%	0.33%	0.12%
VZ	C	2.26%	0.27%	0.27%
XYL	D	0.11%	0.78%	0.11%

NACP Overweight 178 Positions Relative to CZAR

Symbol	Grade	Weight
AAPL	C	5.03%
NVDA	C	4.9%
MSFT	F	4.63%
AMZN	C	4.47%
ACN	C	3.58%
QCOM	F	3.18%
IBM	C	3.08%
GOOGL	C	2.41%
JPM	A	2.39%
TSLA	B	2.22%
GOOG	C	2.16%
XOM	B	2.0%
UNH	C	1.95%
PANW	C	1.81%
MU	D	1.75%
INTC	D	1.52%
JNJ	D	1.44%
ABBV	D	1.22%
MRK	F	1.03%
BAC	A	0.99%
TMO	F	0.83%
WMT	A	0.73%
ABT	B	0.69%
GE	D	0.69%
NEE	D	0.66%
DHR	F	0.64%
HPQ	B	0.62%
PFE	D	0.62%
UNP	C	0.56%
SPGI	C	0.55%
DELL	C	0.54%
LOW	D	0.51%
COP	C	0.49%
ELV	F	0.47%
MS	A	0.47%
HON	B	0.46%
C	A	0.45%
EA	A	0.45%
ETN	A	0.44%
MDT	D	0.42%
PLD	D	0.42%
BSX	B	0.41%
ADP	B	0.4%
BA	F	0.38%
MELI	D	0.38%
CI	F	0.37%
DE	A	0.36%
MDLZ	F	0.36%
NKE	D	0.36%
UPS	C	0.35%
SO	D	0.35%
SCHW	B	0.33%
DUK	C	0.32%
EQIX	A	0.29%
TT	A	0.29%
NOC	D	0.29%
PNC	B	0.27%
CVS	D	0.27%
PYPL	B	0.27%
ITW	B	0.27%
MMM	D	0.26%
MCO	B	0.26%
FCX	D	0.25%
AON	A	0.24%
CSX	B	0.24%
MPC	D	0.23%
BDX	F	0.23%
PSX	C	0.22%
TFC	A	0.22%
NEM	D	0.22%
EMR	A	0.22%
NSC	B	0.2%
WMB	A	0.19%
AEP	D	0.19%
MAR	B	0.19%
OKE	A	0.18%
SRE	A	0.18%
TRV	B	0.18%
CCI	D	0.18%
D	C	0.18%
GM	B	0.18%
URI	B	0.18%
MET	A	0.17%
BK	A	0.17%
VLO	C	0.17%
JCI	C	0.17%
HLT	A	0.17%
LNG	B	0.16%
IPG	D	0.16%
LHX	C	0.16%
KMI	A	0.15%
HES	B	0.15%
CMI	A	0.15%
EW	C	0.15%
F	C	0.15%
DD	D	0.14%
PEG	A	0.14%
A	D	0.14%
HWM	A	0.14%
OTIS	C	0.13%
KR	B	0.13%
VRSK	A	0.13%
IR	B	0.12%
MLM	B	0.12%
XEL	A	0.12%
ED	D	0.12%
KHC	F	0.12%
RCL	A	0.12%
AVB	B	0.11%
ROK	B	0.11%
EBAY	D	0.11%
VST	B	0.11%
EIX	B	0.11%
ADM	D	0.11%
RMD	C	0.11%
HSY	F	0.1%
DVN	F	0.1%
WEC	A	0.1%
PPG	F	0.1%
BIIB	F	0.1%
PCG	A	0.09%
TROW	B	0.09%
IFF	D	0.09%
DAL	C	0.09%
SYF	B	0.08%
APTV	D	0.08%
SBAC	D	0.08%
PPL	B	0.08%
FE	C	0.08%
ETR	B	0.08%
NDAQ	A	0.08%
DTE	C	0.08%
ES	D	0.08%
NRG	B	0.07%
LII	A	0.07%
EXPD	D	0.07%
CMS	C	0.07%
TSN	B	0.07%
CLX	B	0.07%
BAH	F	0.07%
BAX	D	0.07%
LH	C	0.07%
K	A	0.07%
ILMN	D	0.07%
HBAN	A	0.07%
RF	A	0.07%
SWK	D	0.06%
LUV	C	0.06%
DOC	D	0.06%
HUBB	B	0.06%
TXT	D	0.06%
SJM	D	0.05%
AMH	D	0.05%
NI	A	0.05%
OC	A	0.05%
ACM	A	0.05%
NDSN	B	0.05%
UAL	A	0.05%
LNT	A	0.05%
AES	F	0.05%
JBHT	C	0.05%
BG	F	0.05%
CF	B	0.05%
CPB	D	0.04%
REG	B	0.04%
LECO	B	0.04%
TFX	F	0.04%
ALB	C	0.04%
EMN	D	0.04%
USFD	A	0.04%
WBA	F	0.03%
BWA	D	0.03%
SCCO	F	0.03%
PFG	D	0.03%
MOS	F	0.03%
HRL	D	0.03%
CNH	C	0.03%
TAP	C	0.03%

NACP Underweight 26 Positions Relative to CZAR

Symbol	Grade	Weight
CSCO	B	-3.99%
APO	B	-3.87%
BLK	C	-3.7%
FTV	C	-3.34%
AJG	B	-3.16%
ADI	D	-3.04%
OTEX	D	-3.0%
ADBE	C	-2.99%
VRTX	F	-1.91%
KVUE	A	-1.3%
PG	A	-1.01%
SNA	A	-0.7%
CPAY	A	-0.63%
CHTR	C	-0.62%
GPN	B	-0.54%
CMCSA	B	-0.52%
ROL	B	-0.48%
LKQ	D	-0.48%
ABNB	C	-0.41%
WCN	A	-0.39%
LIN	D	-0.37%
CNI	D	-0.35%
STLA	F	-0.35%
IQV	D	-0.26%
RSG	A	-0.24%
GPC	D	-0.15%