NACP vs. EFIV ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to SPDR S&P 500 ESG ETF (EFIV)

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

$41.24

Average Daily Volume

2,133

Number of Holdings ^*

196

* may have additional holdings in another (foreign) market

EFIV

SPDR S&P 500 ESG ETF

EFIV Description

• Seeks to provide investment results that, before fees and expenses, correspond generally to the S&P 500 ESG Index • EFIV is designed to track an index that is designed to select S&P 500 firms meeting certain sustainability criteria (criteria related to environmental, social and governance factors) while maintaining similar overall industry group weights as the S&P 500 Index • EFIV may serve as a potential ESG core exposure, based on its focus on sustainability criteria and comprehensive market coverage of the flagship core S&P 500 Index

Grade (RS Rating)

Last Trade

$55.44

Average Daily Volume

120,232

Number of Holdings ^*

316

* may have additional holdings in another (foreign) market

Performance

Period	NACP	EFIV
30 Days	3.64%	2.00%
60 Days	5.52%	4.47%
90 Days	4.72%	4.73%
12 Months	34.73%	33.75%

139 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in EFIV	Overlap
A	C	0.14%	0.12%	0.12%
AAPL	C	5.03%	9.57%	5.03%
ABBV	B	1.22%	0.99%	0.99%
ABT	C	0.69%	0.58%	0.58%
ACN	C	3.58%	0.61%	0.61%
ADM	D	0.11%	0.09%	0.09%
ADP	C	0.4%	0.33%	0.33%
ALB	D	0.04%	0.03%	0.03%
AME	C	0.13%	0.11%	0.11%
AON	B	0.24%	0.22%	0.22%
APTV	D	0.08%	0.06%	0.06%
AVB	C	0.11%	0.09%	0.09%
AXP	B	0.56%	0.44%	0.44%
BAC	D	0.99%	0.81%	0.81%
BAX	C	0.07%	0.06%	0.06%
BDX	D	0.23%	0.2%	0.2%
BIIB	F	0.1%	0.09%	0.09%
BK	B	0.17%	0.16%	0.16%
BMY	C	0.35%	0.29%	0.29%
BSX	B	0.41%	0.36%	0.36%
BWA	C	0.03%	0.02%	0.02%
C	C	0.45%	0.35%	0.35%
CF	B	0.05%	0.05%	0.05%
CI	C	0.37%	0.29%	0.29%
CMI	B	0.15%	0.12%	0.12%
CPB	C	0.04%	0.03%	0.03%
CSX	C	0.24%	0.2%	0.2%
CVS	D	0.27%	0.21%	0.21%
CVX	F	1.04%	0.72%	0.72%
DAL	C	0.09%	0.09%	0.09%
DE	A	0.36%	0.31%	0.31%
DGX	B	0.06%	0.05%	0.05%
DHR	B	0.64%	0.53%	0.53%
DOC	B	0.06%	0.04%	0.04%
DVN	F	0.1%	0.08%	0.08%
EA	D	0.45%	0.1%	0.1%
EBAY	B	0.11%	0.09%	0.09%
ECL	B	0.21%	0.18%	0.18%
ED	B	0.12%	0.1%	0.1%
EIX	B	0.11%	0.09%	0.09%
ELV	D	0.47%	0.36%	0.36%
EMR	D	0.22%	0.18%	0.18%
EQIX	B	0.29%	0.24%	0.24%
ES	B	0.08%	0.07%	0.07%
ETN	C	0.44%	0.38%	0.38%
ETR	A	0.08%	0.08%	0.08%
EW	F	0.15%	0.12%	0.12%
EXC	B	0.15%	0.11%	0.11%
FCX	C	0.25%	0.19%	0.19%
GE	C	0.69%	0.59%	0.59%
GILD	B	0.35%	0.3%	0.3%
GM	C	0.18%	0.16%	0.16%
GOOG	D	2.16%	2.31%	2.16%
GOOGL	D	2.41%	2.76%	2.41%
HBAN	B	0.07%	0.06%	0.06%
HES	F	0.15%	0.11%	0.11%
HLT	B	0.17%	0.16%	0.16%
HPQ	C	0.62%	0.09%	0.09%
HRL	F	0.03%	0.03%	0.03%
HSY	D	0.1%	0.08%	0.08%
HUBB	B	0.06%	0.06%	0.06%
IFF	A	0.09%	0.08%	0.08%
INTC	D	1.52%	0.26%	0.26%
IPG	C	0.16%	0.03%	0.03%
IR	B	0.12%	0.11%	0.11%
ITW	B	0.27%	0.2%	0.2%
JBHT	D	0.05%	0.04%	0.04%
JCI	B	0.17%	0.15%	0.15%
JPM	D	2.39%	1.75%	1.75%
K	A	0.07%	0.06%	0.06%
KHC	C	0.12%	0.08%	0.08%
KMI	C	0.15%	0.12%	0.12%
KO	B	0.99%	0.79%	0.79%
KR	B	0.13%	0.11%	0.11%
LOW	B	0.51%	0.43%	0.43%
MA	B	1.4%	1.17%	1.17%
MAR	B	0.19%	0.17%	0.17%
MCO	C	0.26%	0.22%	0.22%
MDLZ	C	0.36%	0.29%	0.29%
MDT	B	0.42%	0.34%	0.34%
MET	B	0.17%	0.14%	0.14%
MOS	F	0.03%	0.03%	0.03%
MPC	F	0.23%	0.17%	0.17%
MRK	F	1.03%	0.86%	0.86%
MS	B	0.47%	0.37%	0.37%
MSFT	C	4.63%	9.46%	4.63%
MU	D	1.75%	0.29%	0.29%
NDAQ	C	0.08%	0.09%	0.08%
NEE	B	0.66%	0.49%	0.49%
NEM	C	0.22%	0.18%	0.18%
NKE	D	0.36%	0.28%	0.28%
NSC	C	0.2%	0.16%	0.16%
NVDA	C	4.9%	8.41%	4.9%
OKE	C	0.18%	0.16%	0.16%
OTIS	B	0.13%	0.11%	0.11%
PEG	B	0.14%	0.12%	0.12%
PEP	D	0.92%	0.7%	0.7%
PFE	D	0.62%	0.49%	0.49%
PFG	B	0.03%	0.05%	0.03%
PLD	C	0.42%	0.35%	0.35%
PNC	C	0.27%	0.22%	0.22%
PPG	C	0.1%	0.09%	0.09%
PSX	F	0.22%	0.16%	0.16%
PYPL	B	0.27%	0.24%	0.24%
QCOM	D	3.18%	0.56%	0.56%
RCL	B	0.12%	0.12%	0.12%
REG	C	0.04%	0.03%	0.03%
RF	B	0.07%	0.06%	0.06%
RMD	C	0.11%	0.1%	0.1%
ROK	D	0.11%	0.09%	0.09%
SBAC	C	0.08%	0.07%	0.07%
SCHW	D	0.33%	0.28%	0.28%
SJM	C	0.05%	0.04%	0.04%
SPGI	C	0.55%	0.49%	0.49%
SRE	B	0.18%	0.15%	0.15%
SWK	B	0.06%	0.05%	0.05%
SYF	C	0.08%	0.06%	0.06%
T	B	0.45%	0.44%	0.44%
TAP	D	0.03%	0.03%	0.03%
TFC	D	0.22%	0.17%	0.17%
TFX	B	0.04%	0.03%	0.03%
TROW	C	0.09%	0.07%	0.07%
TRV	C	0.18%	0.16%	0.16%
TSLA	C	2.22%	1.96%	1.96%
TSN	D	0.07%	0.05%	0.05%
TT	B	0.29%	0.25%	0.25%
UBER	C	2.29%	0.46%	0.46%
UNH	C	1.95%	1.54%	1.54%
UNP	D	0.56%	0.44%	0.44%
UPS	D	0.35%	0.28%	0.28%
URI	B	0.18%	0.16%	0.16%
V	C	1.53%	1.3%	1.3%
VLO	F	0.17%	0.13%	0.13%
VRSK	D	0.13%	0.11%	0.11%
WBA	F	0.03%	0.02%	0.02%
WMB	C	0.19%	0.16%	0.16%
WMT	B	0.73%	0.97%	0.73%
XOM	D	2.0%	1.51%	1.51%
XYL	C	0.11%	0.09%	0.09%

NACP Overweight 57 Positions Relative to EFIV

Symbol	Grade	Weight
AMZN	C	4.47%
META	B	3.63%
IBM	B	3.08%
VZ	A	2.26%
PANW	D	1.81%
JNJ	C	1.44%
TMO	B	0.83%
DELL	C	0.54%
COP	F	0.49%
HON	C	0.46%
BA	F	0.38%
MELI	C	0.38%
SO	B	0.35%
DUK	B	0.32%
NOC	B	0.29%
MMM	B	0.26%
FDX	D	0.25%
AEP	C	0.19%
CCI	C	0.18%
D	C	0.18%
LNG	D	0.16%
LHX	C	0.16%
F	F	0.15%
DD	B	0.14%
HWM	B	0.14%
VMC	C	0.12%
MLM	D	0.12%
XEL	B	0.12%
VST	B	0.11%
WEC	B	0.1%
PCG	C	0.09%
PPL	A	0.08%
FE	B	0.08%
DTE	A	0.08%
NRG	B	0.07%
LII	C	0.07%
EXPD	B	0.07%
CMS	B	0.07%
CLX	C	0.07%
BAH	B	0.07%
ILMN	D	0.07%
LUV	C	0.06%
TXT	D	0.06%
AMH	D	0.05%
NI	B	0.05%
OC	C	0.05%
ACM	B	0.05%
NDSN	C	0.05%
UAL	B	0.05%
LNT	A	0.05%
AES	C	0.05%
BG	F	0.05%
LECO	D	0.04%
EMN	B	0.04%
USFD	C	0.04%
SCCO	C	0.03%
CNH	C	0.03%

NACP Underweight 177 Positions Relative to EFIV

Symbol	Grade	Weight
LLY	D	-2.12%
PG	C	-1.17%
COST	C	-1.16%
HD	B	-1.12%
CRM	C	-0.75%
AMD	C	-0.73%
ADBE	F	-0.68%
LIN	B	-0.65%
MCD	B	-0.61%
CSCO	B	-0.6%
CAT	B	-0.53%
AMGN	D	-0.52%
DIS	D	-0.49%
AMAT	D	-0.47%
GS	B	-0.47%
CMCSA	C	-0.46%
TJX	C	-0.39%
BLK	B	-0.38%
REGN	D	-0.36%
SYK	C	-0.36%
CB	B	-0.34%
SBUX	C	-0.32%
MMC	C	-0.32%
AMT	C	-0.31%
LRCX	D	-0.3%
KLAC	D	-0.3%
TMUS	B	-0.3%
ZTS	B	-0.26%
SHW	B	-0.26%
ICE	C	-0.26%
CL	C	-0.24%
CMG	D	-0.23%
PH	B	-0.23%
WELL	C	-0.22%
WM	D	-0.22%
CME	B	-0.22%
USB	C	-0.21%
TGT	C	-0.21%
CARR	B	-0.2%
CTAS	C	-0.2%
APD	B	-0.19%
SLB	F	-0.18%
AJG	D	-0.18%
ADSK	B	-0.17%
COF	B	-0.17%
DHI	C	-0.17%
AFL	A	-0.16%
PSA	C	-0.16%
ALL	C	-0.15%
ROST	C	-0.15%
DLR	B	-0.15%
PCAR	D	-0.15%
FIS	C	-0.14%
AIG	D	-0.14%
PRU	C	-0.13%
MSCI	C	-0.13%
GWW	B	-0.13%
TEL	D	-0.13%
AMP	B	-0.13%
CNC	D	-0.12%
CTVA	B	-0.12%
RSG	D	-0.12%
ACGL	B	-0.12%
GIS	B	-0.12%
PWR	B	-0.12%
PAYX	C	-0.12%
IDXX	D	-0.12%
SYY	C	-0.11%
DOW	C	-0.11%
YUM	B	-0.11%
CBRE	B	-0.11%
HUM	F	-0.11%
EXR	C	-0.11%
KDP	B	-0.11%
MTD	C	-0.1%
IRM	C	-0.1%
TRGP	C	-0.1%
HIG	B	-0.1%
OXY	F	-0.1%
DFS	C	-0.1%
BKR	C	-0.1%
FITB	B	-0.09%
WTW	B	-0.09%
MTB	C	-0.09%
PHM	B	-0.09%
ON	D	-0.09%
LULU	D	-0.09%
WAB	B	-0.09%
CSGP	D	-0.09%
FANG	F	-0.09%
HAL	F	-0.08%
DOV	B	-0.08%
EQR	C	-0.08%
STT	B	-0.08%
FTV	C	-0.08%
CAH	C	-0.08%
AXON	B	-0.08%
AWK	C	-0.08%
GPN	D	-0.08%
TSCO	B	-0.08%
MRNA	F	-0.07%
CPAY	B	-0.07%
RJF	C	-0.07%
TTWO	D	-0.07%
DECK	C	-0.07%
WY	C	-0.07%
HPE	C	-0.07%
BR	C	-0.07%
LYB	D	-0.07%
VTR	C	-0.07%
SW	B	-0.07%
ARE	C	-0.06%
HOLX	D	-0.06%
CFG	D	-0.06%
ULTA	D	-0.06%
WAT	B	-0.06%
GPC	D	-0.06%
EL	D	-0.06%
OMC	B	-0.06%
EQT	C	-0.06%
MKC	C	-0.06%
BALL	C	-0.06%
WDC	C	-0.06%
CBOE	C	-0.06%
ZBH	F	-0.06%
IEX	C	-0.05%
PNR	B	-0.05%
AMCR	B	-0.05%
KEY	C	-0.05%
AVY	C	-0.05%
EG	B	-0.05%
MAS	B	-0.05%
EXPE	C	-0.05%
FDS	C	-0.05%
CCL	C	-0.05%
NTRS	C	-0.05%
BBY	A	-0.05%
KMX	D	-0.04%
CHRW	B	-0.04%
ALLE	B	-0.04%
JKHY	B	-0.04%
HST	D	-0.04%
UDR	C	-0.04%
POOL	C	-0.04%
AKAM	D	-0.04%
CAG	B	-0.04%
KIM	C	-0.04%
LVS	C	-0.04%
DVA	B	-0.03%
CZR	C	-0.03%
GL	D	-0.03%
DAY	D	-0.03%
HAS	B	-0.03%
LW	D	-0.03%
TPR	A	-0.03%
NWSA	D	-0.03%
AIZ	B	-0.03%
MGM	D	-0.03%
MKTX	D	-0.03%
CRL	F	-0.03%
LKQ	F	-0.03%
BXP	C	-0.03%
INCY	C	-0.03%
BEN	F	-0.02%
ETSY	D	-0.02%
BBWI	D	-0.02%
AAL	D	-0.02%
BIO	C	-0.02%
WYNN	C	-0.02%
RL	B	-0.02%
IVZ	B	-0.02%
FMC	B	-0.02%
MHK	B	-0.02%
FRT	C	-0.02%
NCLH	B	-0.02%
NWS	D	-0.01%
PARA	D	-0.01%