NACP vs. ILDR ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to First Trust Innovation Leaders ETF (ILDR)

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

ILDR

First Trust Innovation Leaders ETF

ILDR Description

First Trust Innovation Leaders ETF is an exchange-traded fund incorporated in the USA. The investment seeks to provide capital appreciation. Under normal market conditions, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in common stock and depository receipts issued by U.S. and non-U.S. companies that may benefit from the development or application of scientific and technological innovation. The fund’s investments will be concentrated in the information technology sector, and therefore, may be concentrated in one or more industries within the information technology sector. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$26.16

Average Daily Volume

11,195

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	NACP	ILDR
30 Days	2.08%	4.70%
60 Days	4.48%	8.19%
90 Days	6.57%	10.10%
12 Months	32.92%	42.49%

14 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in ILDR	Overlap
ABBV	D	1.22%	0.57%	0.57%
AMZN	C	4.47%	6.57%	4.47%
DUK	C	0.32%	1.33%	0.32%
GOOG	C	2.16%	3.78%	2.16%
META	D	3.63%	3.56%	3.56%
MRK	F	1.03%	1.24%	1.03%
MSFT	F	4.63%	4.89%	4.63%
MU	D	1.75%	1.82%	1.75%
NVDA	C	4.9%	8.61%	4.9%
PANW	C	1.81%	1.16%	1.16%
QCOM	F	3.18%	1.65%	1.65%
TMO	F	0.83%	1.1%	0.83%
UBER	D	2.29%	2.96%	2.29%
V	A	1.53%	1.04%	1.04%

NACP Overweight 183 Positions Relative to ILDR

Symbol	Grade	Weight
AAPL	C	5.03%
ACN	C	3.58%
IBM	C	3.08%
GOOGL	C	2.41%
JPM	A	2.39%
VZ	C	2.26%
TSLA	B	2.22%
XOM	B	2.0%
UNH	C	1.95%
INTC	D	1.52%
JNJ	D	1.44%
MA	C	1.4%
CVX	A	1.04%
KO	D	0.99%
BAC	A	0.99%
PEP	F	0.92%
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%
AXP	A	0.56%
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%
T	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%
BMY	B	0.35%
UPS	C	0.35%
GILD	C	0.35%
SO	D	0.35%
SCHW	B	0.33%
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%
FDX	B	0.25%
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%
ECL	D	0.21%
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%
EXC	C	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%
AME	A	0.13%
VRSK	A	0.13%
VMC	B	0.12%
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%
XYL	D	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%
DGX	A	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 44 Positions Relative to ILDR

Symbol	Grade	Weight
ORCL	B	-6.12%
NOW	A	-3.17%
AVGO	D	-2.87%
CEG	D	-2.41%
SHOP	B	-2.09%
MRVL	B	-1.73%
GTLS	B	-1.46%
TOST	B	-1.44%
WDAY	B	-1.4%
SMR	B	-1.31%
BMRN	D	-1.21%
AVAV	D	-1.18%
BWXT	B	-1.16%
NFLX	A	-1.14%
SQ	B	-1.12%
RMBS	C	-1.08%
ZS	C	-1.07%
ANET	C	-1.06%
DT	C	-1.03%
ISRG	A	-1.03%
AVTR	F	-1.01%
VRTX	F	-0.98%
TW	A	-0.94%
HALO	F	-0.93%
SWTX	C	-0.9%
FOLD	F	-0.89%
ADBE	C	-0.89%
DDOG	A	-0.85%
TTD	B	-0.8%
GEV	B	-0.79%
CYBR	B	-0.76%
MDB	C	-0.75%
GTLB	B	-0.69%
AKAM	D	-0.68%
MDGL	B	-0.68%
MIRM	B	-0.67%
OKLO	B	-0.58%
GRAB	B	-0.56%
NBIX	C	-0.5%
ABNB	C	-0.48%
RCUS	F	-0.44%
REGN	F	-0.43%
SGBX	F	-0.41%
LLY	F	-0.35%