NACP vs. DEMZ ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to DEMZ Political Contributions ETF (DEMZ)

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

$41.14

Average Daily Volume

2,133

Number of Holdings ^*

196

* may have additional holdings in another (foreign) market

DEMZ

DEMZ Political Contributions ETF

DEMZ Description

The investment seeks to track the total return performance, before fees and expenses, of the DEMZ Political Contribution Index. The index is a subset of the S&P 500® Index designed to provide exposure to companies that make political contributions to Democratic Party candidates and political action committees above a certain threshold. Under normal circumstances, the fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in securities included in the index.

Grade (RS Rating)

Last Trade

$35.80

Average Daily Volume

2,359

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	NACP	DEMZ
30 Days	3.64%	2.22%
60 Days	5.52%	5.21%
90 Days	4.72%	4.69%
12 Months	34.73%	36.01%

16 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in DEMZ	Overlap
A	C	0.14%	1.56%	0.14%
AAPL	C	5.03%	5.02%	5.02%
ADP	C	0.4%	2.48%	0.4%
BWA	C	0.03%	1.89%	0.03%
DHR	B	0.64%	2.6%	0.64%
EA	D	0.45%	1.01%	0.45%
GOOG	D	2.16%	1.99%	1.99%
GOOGL	D	2.41%	2.22%	2.22%
HRL	F	0.03%	1.03%	0.03%
IBM	B	3.08%	3.71%	3.08%
MCO	C	0.26%	1.44%	0.26%
META	B	3.63%	3.38%	3.38%
MSFT	C	4.63%	4.75%	4.63%
NDSN	C	0.05%	1.33%	0.05%
NVDA	C	4.9%	4.26%	4.26%
XYL	C	0.11%	2.07%	0.11%

NACP Overweight 180 Positions Relative to DEMZ

Symbol	Grade	Weight
AMZN	C	4.47%
ACN	C	3.58%
QCOM	D	3.18%
JPM	D	2.39%
UBER	C	2.29%
VZ	A	2.26%
TSLA	C	2.22%
XOM	D	2.0%
UNH	C	1.95%
PANW	D	1.81%
MU	D	1.75%
V	C	1.53%
INTC	D	1.52%
JNJ	C	1.44%
MA	B	1.4%
ABBV	B	1.22%
CVX	F	1.04%
MRK	F	1.03%
KO	B	0.99%
BAC	D	0.99%
PEP	D	0.92%
TMO	B	0.83%
WMT	B	0.73%
ABT	C	0.69%
GE	C	0.69%
NEE	B	0.66%
HPQ	C	0.62%
PFE	D	0.62%
AXP	B	0.56%
UNP	D	0.56%
SPGI	C	0.55%
DELL	C	0.54%
LOW	B	0.51%
COP	F	0.49%
ELV	D	0.47%
MS	B	0.47%
HON	C	0.46%
C	C	0.45%
T	B	0.45%
ETN	C	0.44%
MDT	B	0.42%
PLD	C	0.42%
BSX	B	0.41%
BA	F	0.38%
MELI	C	0.38%
CI	C	0.37%
DE	A	0.36%
MDLZ	C	0.36%
NKE	D	0.36%
BMY	C	0.35%
UPS	D	0.35%
GILD	B	0.35%
SO	B	0.35%
SCHW	D	0.33%
DUK	B	0.32%
EQIX	B	0.29%
TT	B	0.29%
NOC	B	0.29%
PNC	C	0.27%
CVS	D	0.27%
PYPL	B	0.27%
ITW	B	0.27%
MMM	B	0.26%
FDX	D	0.25%
FCX	C	0.25%
AON	B	0.24%
CSX	C	0.24%
MPC	F	0.23%
BDX	D	0.23%
PSX	F	0.22%
TFC	D	0.22%
NEM	C	0.22%
EMR	D	0.22%
ECL	B	0.21%
NSC	C	0.2%
WMB	C	0.19%
AEP	C	0.19%
MAR	B	0.19%
OKE	C	0.18%
SRE	B	0.18%
TRV	C	0.18%
CCI	C	0.18%
D	C	0.18%
GM	C	0.18%
URI	B	0.18%
MET	B	0.17%
BK	B	0.17%
VLO	F	0.17%
JCI	B	0.17%
HLT	B	0.17%
LNG	D	0.16%
IPG	C	0.16%
LHX	C	0.16%
KMI	C	0.15%
HES	F	0.15%
EXC	B	0.15%
CMI	B	0.15%
EW	F	0.15%
F	F	0.15%
DD	B	0.14%
PEG	B	0.14%
HWM	B	0.14%
OTIS	B	0.13%
KR	B	0.13%
AME	C	0.13%
VRSK	D	0.13%
VMC	C	0.12%
IR	B	0.12%
MLM	D	0.12%
XEL	B	0.12%
ED	B	0.12%
KHC	C	0.12%
RCL	B	0.12%
AVB	C	0.11%
ROK	D	0.11%
EBAY	B	0.11%
VST	B	0.11%
EIX	B	0.11%
ADM	D	0.11%
RMD	C	0.11%
HSY	D	0.1%
DVN	F	0.1%
WEC	B	0.1%
PPG	C	0.1%
BIIB	F	0.1%
PCG	C	0.09%
TROW	C	0.09%
IFF	A	0.09%
DAL	C	0.09%
SYF	C	0.08%
APTV	D	0.08%
SBAC	C	0.08%
PPL	A	0.08%
FE	B	0.08%
ETR	A	0.08%
NDAQ	C	0.08%
DTE	A	0.08%
ES	B	0.08%
NRG	B	0.07%
LII	C	0.07%
EXPD	B	0.07%
CMS	B	0.07%
TSN	D	0.07%
CLX	C	0.07%
BAH	B	0.07%
BAX	C	0.07%
K	A	0.07%
ILMN	D	0.07%
HBAN	B	0.07%
RF	B	0.07%
SWK	B	0.06%
LUV	C	0.06%
DOC	B	0.06%
DGX	B	0.06%
HUBB	B	0.06%
TXT	D	0.06%
SJM	C	0.05%
AMH	D	0.05%
NI	B	0.05%
OC	C	0.05%
ACM	B	0.05%
UAL	B	0.05%
LNT	A	0.05%
AES	C	0.05%
JBHT	D	0.05%
BG	F	0.05%
CF	B	0.05%
CPB	C	0.04%
REG	C	0.04%
LECO	D	0.04%
TFX	B	0.04%
ALB	D	0.04%
EMN	B	0.04%
USFD	C	0.04%
WBA	F	0.03%
SCCO	C	0.03%
PFG	B	0.03%
MOS	F	0.03%
CNH	C	0.03%
TAP	D	0.03%

NACP Underweight 35 Positions Relative to DEMZ

Symbol	Grade	Weight
L	D	-4.94%
COST	C	-4.88%
APH	C	-3.58%
DIS	D	-2.73%
CL	C	-2.65%
KLAC	D	-2.14%
SYK	C	-2.05%
EG	B	-2.02%
KIM	C	-1.84%
AVY	C	-1.79%
AMT	C	-1.75%
KMB	C	-1.73%
OMC	B	-1.68%
LRCX	D	-1.59%
PAYX	C	-1.58%
ROST	C	-1.51%
AMD	C	-1.35%
CRM	C	-1.34%
NOW	C	-1.22%
RL	B	-1.2%
ADSK	B	-1.15%
IT	C	-1.14%
MSCI	C	-1.11%
ADBE	F	-1.08%
HSIC	C	-1.07%
KMX	D	-1.07%
ANET	C	-1.06%
VLTO	B	-1.04%
NFLX	B	-1.03%
BKNG	B	-1.02%
ULTA	D	-0.99%
TPR	A	-0.99%
CDW	D	-0.96%
CDNS	D	-0.85%
SNPS	F	-0.82%