NACP vs. IWFG ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to IQ MacKay Municipal Insured ETF (IWFG)

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

$41.44

Average Daily Volume

3,266

Number of Holdings ^*

197

* may have additional holdings in another (foreign) market

IWFG

IQ MacKay Municipal Insured ETF

IWFG Description

The Fund seek long-term growth of capital by employing a bottom-up investment process while investing in companies that have the potential for above-average future earnings and cash flow growth. IWFG typically invests in a portfolio of 25-35 stocks, allocating 10-60% across each growth type. The fund invests in stocks of companies operating across diversified sectors. It invests in growth stocks of large-cap companies. IQ MacKay Municipal Insured ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$47.06

Average Daily Volume

186

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	NACP	IWFG
30 Days	0.24%	2.02%
60 Days	7.02%	10.95%
90 Days	11.22%	14.13%
12 Months	34.39%	44.32%

12 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in IWFG	Overlap
AAPL	C	5.03%	5.03%	5.03%
AMZN	A	4.47%	7.69%	4.47%
ETN	B	0.44%	2.48%	0.44%
GOOG	B	2.16%	4.52%	2.16%
HLT	B	0.17%	1.57%	0.17%
MA	B	1.4%	3.21%	1.4%
MELI	C	0.38%	2.74%	0.38%
META	B	3.63%	4.54%	3.63%
MSFT	D	4.63%	11.57%	4.63%
NVDA	B	4.9%	7.83%	4.9%
TT	B	0.29%	3.49%	0.29%
UBER	C	2.29%	2.09%	2.09%

NACP Overweight 185 Positions Relative to IWFG

Symbol	Grade	Weight
ACN	C	3.58%
QCOM	F	3.18%
IBM	D	3.08%
GOOGL	B	2.41%
JPM	B	2.39%
VZ	D	2.26%
TSLA	B	2.22%
XOM	B	2.0%
UNH	D	1.95%
PANW	B	1.81%
MU	C	1.75%
V	A	1.53%
INTC	C	1.52%
JNJ	D	1.44%
ABBV	B	1.22%
CVX	B	1.04%
MRK	F	1.03%
KO	D	0.99%
BAC	B	0.99%
PEP	F	0.92%
TMO	D	0.83%
WMT	A	0.73%
ABT	B	0.69%
GE	D	0.69%
NEE	D	0.66%
DHR	D	0.64%
HPQ	B	0.62%
PFE	D	0.62%
AXP	B	0.56%
UNP	D	0.56%
SPGI	D	0.55%
DELL	B	0.54%
LOW	B	0.51%
COP	D	0.49%
ELV	F	0.47%
MS	B	0.47%
HON	B	0.46%
C	B	0.45%
EA	A	0.45%
T	B	0.45%
MDT	B	0.42%
PLD	F	0.42%
BSX	B	0.41%
ADP	A	0.4%
BA	F	0.38%
CI	D	0.37%
DE	C	0.36%
MDLZ	F	0.36%
NKE	F	0.36%
BMY	A	0.35%
UPS	C	0.35%
GILD	A	0.35%
SO	C	0.35%
SCHW	B	0.33%
DUK	D	0.32%
EQIX	B	0.29%
NOC	D	0.29%
PNC	B	0.27%
CVS	F	0.27%
PYPL	B	0.27%
ITW	A	0.27%
MMM	D	0.26%
MCO	D	0.26%
FDX	D	0.25%
FCX	B	0.25%
AON	B	0.24%
CSX	D	0.24%
MPC	F	0.23%
BDX	D	0.23%
PSX	F	0.22%
TFC	C	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	C	0.18%
TRV	B	0.18%
CCI	D	0.18%
D	B	0.18%
GM	A	0.18%
URI	B	0.18%
MET	C	0.17%
BK	A	0.17%
VLO	F	0.17%
JCI	B	0.17%
LNG	A	0.16%
IPG	F	0.16%
LHX	B	0.16%
KMI	A	0.15%
HES	C	0.15%
EXC	D	0.15%
CMI	A	0.15%
EW	D	0.15%
F	F	0.15%
DD	C	0.14%
PEG	C	0.14%
A	C	0.14%
HWM	B	0.14%
OTIS	B	0.13%
KR	A	0.13%
AME	A	0.13%
VRSK	B	0.13%
VMC	B	0.12%
IR	B	0.12%
MLM	B	0.12%
XEL	B	0.12%
ED	D	0.12%
KHC	F	0.12%
RCL	A	0.12%
AVB	B	0.11%
ROK	C	0.11%
EBAY	D	0.11%
VST	C	0.11%
EIX	D	0.11%
ADM	F	0.11%
RMD	B	0.11%
XYL	F	0.11%
HSY	F	0.1%
DVN	F	0.1%
WEC	B	0.1%
PPG	F	0.1%
BIIB	F	0.1%
PCG	B	0.09%
TROW	B	0.09%
IFF	D	0.09%
DAL	A	0.09%
SYF	A	0.08%
APTV	F	0.08%
SBAC	D	0.08%
PPL	B	0.08%
FE	D	0.08%
ETR	B	0.08%
NDAQ	A	0.08%
DTE	D	0.08%
ES	D	0.08%
NRG	B	0.07%
LII	A	0.07%
EXPD	D	0.07%
CMS	C	0.07%
TSN	D	0.07%
CLX	C	0.07%
BAH	A	0.07%
BAX	D	0.07%
LH	B	0.07%
K	A	0.07%
ILMN	A	0.07%
HBAN	B	0.07%
RF	B	0.07%
SWK	D	0.06%
LUV	B	0.06%
DOC	A	0.06%
DGX	B	0.06%
HUBB	B	0.06%
TXT	D	0.06%
SJM	D	0.05%
AMH	F	0.05%
NI	A	0.05%
OC	B	0.05%
ACM	A	0.05%
NDSN	D	0.05%
UAL	A	0.05%
LNT	C	0.05%
AES	F	0.05%
JBHT	B	0.05%
BG	F	0.05%
CF	B	0.05%
CPB	D	0.04%
REG	B	0.04%
LECO	C	0.04%
TFX	F	0.04%
ALB	C	0.04%
EMN	D	0.04%
USFD	A	0.04%
WBA	C	0.03%
BWA	D	0.03%
SCCO	B	0.03%
PFG	D	0.03%
MOS	C	0.03%
HRL	D	0.03%
CNH	B	0.03%
TAP	C	0.03%

NACP Underweight 17 Positions Relative to IWFG

Symbol	Grade	Weight
AVGO	B	-4.86%
SPOT	B	-3.22%
ADI	C	-3.09%
ORLY	B	-2.88%
KKR	B	-2.77%
ISRG	A	-2.74%
NFLX	A	-2.62%
NOW	A	-2.52%
ADBE	D	-2.35%
CMG	D	-2.31%
APH	A	-2.26%
INTU	D	-2.23%
BKNG	A	-2.02%
LRCX	F	-1.93%
SNPS	C	-1.81%
WDAY	D	-1.62%
ASML	F	-1.48%