NACP vs. JPST ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to JPMorgan Ultra-Short Income ETF (JPST)

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

$40.07

Average Daily Volume

2,235

Number of Holdings ^*

198

* may have additional holdings in another (foreign) market

JPST

JPMorgan Ultra-Short Income ETF

JPST Description

The investment seeks to provide total return. Under normal circumstances, the fund will invest at least 80% of its assets in bonds. It will invest at least 40% of its assets in countries other than the United States. The fund may invest in developed or emerging markets. It generally invests at least 25% of its assets in securities that, at the time of purchase are rated investment grade or the unrated equivalent. "Assets" means net assets plus the amount of borrowings for investment purposes. The fund may also use currency related transactions involving currency derivatives as part of its primary investment strategy.

Grade (RS Rating)

Last Trade

$50.33

Average Daily Volume

3,674,595

Number of Holdings ^*

112

* may have additional holdings in another (foreign) market

Performance

Period	NACP	JPST
30 Days	3.22%	0.04%
60 Days	6.44%	0.54%
90 Days	5.76%	0.52%
12 Months	29.15%	3.90%

48 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in JPST	Overlap
AAPL	A	4.81%	0.12%	0.12%
ABBV	C	1.06%	0.04%	0.04%
ABT	D	0.66%	0.01%	0.01%
AEP	C	0.16%	0.05%	0.05%
AXP	C	0.51%	0.01%	0.01%
BA	C	0.41%	0.18%	0.18%
BAC	B	0.99%	0.01%	0.01%
BG	B	0.06%	0.06%	0.06%
BK	B	0.15%	0.01%	0.01%
BMY	F	0.31%	0.01%	0.01%
C	B	0.44%	0.01%	0.01%
CI	D	0.36%	0.08%	0.08%
D	C	0.16%	0.17%	0.16%
DE	F	0.36%	0.01%	0.01%
DHR	D	0.61%	0.01%	0.01%
DUK	C	0.29%	0.08%	0.08%
ES	C	0.07%	0.01%	0.01%
ETN	C	0.47%	0.02%	0.02%
ETR	D	0.08%	0.16%	0.08%
GILD	C	0.3%	0.13%	0.13%
GM	B	0.17%	0.1%	0.1%
HBAN	D	0.06%	0.01%	0.01%
HON	B	0.5%	0.02%	0.02%
IBM	B	2.72%	0.01%	0.01%
IFF	B	0.09%	0.08%	0.08%
JBHT	F	0.05%	0.09%	0.05%
KR	C	0.13%	0.07%	0.07%
MCO	A	0.23%	0.01%	0.01%
MDLZ	D	0.34%	0.04%	0.04%
MET	D	0.16%	0.01%	0.01%
MLM	D	0.12%	0.09%	0.09%
MMM	B	0.2%	0.01%	0.01%
MS	B	0.44%	0.05%	0.05%
NEE	D	0.61%	0.03%	0.03%
NEM	A	0.18%	0.08%	0.08%
PFE	C	0.6%	0.01%	0.01%
PFG	D	0.03%	0.01%	0.01%
PNC	C	0.21%	0.01%	0.01%
PSX	D	0.23%	0.01%	0.01%
SCHW	D	0.39%	0.01%	0.01%
SO	B	0.32%	0.11%	0.11%
T	B	0.43%	0.14%	0.14%
TFC	B	0.18%	0.01%	0.01%
TMO	D	0.75%	0.74%	0.74%
UNH	D	1.64%	0.01%	0.01%
VZ	B	2.27%	0.16%	0.16%
WEC	D	0.09%	0.09%	0.09%
XOM	D	2.0%	0.06%	0.06%

NACP Overweight 150 Positions Relative to JPST

Symbol	Grade	Weight
MSFT	A	5.1%
AMZN	A	5.06%
NVDA	B	4.75%
QCOM	B	3.62%
META	A	3.62%
ACN	D	3.29%
GOOGL	A	2.73%
GOOG	A	2.44%
INTC	C	2.29%
MU	C	2.27%
JPM	B	2.21%
UBER	B	2.19%
TSLA	B	2.01%
PANW	B	1.78%
V	C	1.55%
MA	C	1.35%
JNJ	F	1.3%
MRK	C	1.16%
CVX	D	1.11%
KO	A	0.92%
PEP	D	0.88%
DELL	C	0.68%
GE	D	0.66%
WMT	A	0.66%
HPQ	C	0.6%
SPGI	B	0.52%
COP	D	0.5%
UNP	D	0.5%
LOW	D	0.47%
ELV	C	0.46%
EA	B	0.43%
NKE	F	0.41%
BSX	B	0.4%
PLD	C	0.38%
ADP	D	0.37%
MDT	D	0.37%
UPS	D	0.37%
MELI	B	0.32%
FCX	C	0.27%
CVS	D	0.27%
TT	B	0.26%
EQIX	C	0.26%
ITW	D	0.26%
FDX	B	0.25%
MPC	D	0.24%
PYPL	D	0.24%
NOC	D	0.24%
CSX	D	0.24%
MAR	C	0.23%
BDX	F	0.23%
EMR	C	0.22%
ECL	B	0.21%
AON	C	0.21%
EW	B	0.2%
HLT	B	0.18%
WMB	B	0.18%
VLO	D	0.18%
SRE	B	0.17%
F	B	0.17%
TRV	D	0.17%
NSC	D	0.17%
URI	D	0.16%
LHX	B	0.16%
HES	D	0.16%
OKE	B	0.16%
JCI	D	0.16%
IPG	F	0.15%
CCI	D	0.15%
LNG	B	0.15%
A	D	0.14%
EXC	D	0.14%
KMI	B	0.14%
VRSK	A	0.14%
CMI	D	0.14%
DD	C	0.14%
PEG	B	0.13%
AME	D	0.13%
OTIS	B	0.13%
VMC	D	0.12%
ADM	C	0.12%
XYL	D	0.12%
BIIB	C	0.12%
IR	C	0.12%
HWM	C	0.12%
RCL	B	0.12%
DVN	D	0.11%
ROK	D	0.11%
DAL	D	0.11%
ED	D	0.11%
VST	C	0.11%
KHC	D	0.11%
EIX	C	0.1%
RMD	C	0.1%
EBAY	B	0.1%
AVB	B	0.1%
PPG	D	0.1%
XEL	D	0.1%
TROW	C	0.09%
HSY	F	0.09%
DTE	D	0.08%
PCG	D	0.08%
APTV	F	0.07%
SYF	B	0.07%
EXPD	B	0.07%
SBAC	F	0.07%
PPL	D	0.07%
BAH	C	0.07%
NDAQ	C	0.07%
FE	C	0.07%
UAL	D	0.06%
TSN	D	0.06%
BAX	C	0.06%
ILMN	D	0.06%
LUV	D	0.06%
HUBB	C	0.06%
CLX	D	0.06%
CMS	D	0.06%
TXT	D	0.06%
RF	B	0.06%
LII	B	0.06%
NRG	D	0.06%
OC	D	0.05%
DOC	B	0.05%
CF	F	0.05%
K	D	0.05%
DGX	C	0.05%
MOS	F	0.04%
LECO	F	0.04%
USFD	C	0.04%
ALB	F	0.04%
AMH	A	0.04%
SJM	D	0.04%
EMN	D	0.04%
NI	B	0.04%
SWK	D	0.04%
NDSN	D	0.04%
ACM	D	0.04%
LNT	B	0.04%
AES	D	0.04%
BWA	F	0.03%
CNH	F	0.03%
HRL	F	0.03%
WBA	F	0.03%
CPB	B	0.03%
SCCO	C	0.03%
TAP	F	0.03%
REG	B	0.03%
TFX	C	0.03%
COTY	F	0.01%
AGR	C	0.01%

NACP Underweight 64 Positions Relative to JPST

Symbol	Grade	Weight
CASH	B	-2.2%
AZN	C	-0.57%
EQH	B	-0.35%
KDP	D	-0.31%
CCEP	B	-0.3%
ATO	D	-0.3%
MCD	F	-0.29%
LDOS	B	-0.26%
BXMT	C	-0.25%
SNX	D	-0.23%
TDY	D	-0.22%
HART	B	-0.19%
OGS	C	-0.17%
CNP	B	-0.14%
PXD	B	-0.13%
DB	C	-0.13%
CAG	D	-0.13%
WFC	C	-0.11%
VTRS	D	-0.1%
FITB	D	-0.1%
HUM	C	-0.09%
STT	C	-0.08%
DT	F	-0.08%
CFG	B	-0.07%
BX	C	-0.07%
HSBC	D	-0.07%
SBUX	F	-0.06%
ACR	C	-0.06%
SEB	F	-0.06%
AL	C	-0.05%
BHF	F	-0.04%
ORCL	A	-0.04%
KKR	C	-0.04%
COF	D	-0.04%
PL	F	-0.04%
ARES	C	-0.03%
CHD	C	-0.03%
R	B	-0.03%
ROP	B	-0.03%
BCC	F	-0.03%
BMO	D	-0.03%
WLK	D	-0.02%
MSC	C	-0.02%
AZO	C	-0.02%
GSK	D	-0.02%
DIS	D	-0.02%
AER	B	-0.02%
BNS	C	-0.02%
EPD	B	-0.01%
ICE	A	-0.01%
CSL	C	-0.01%
CAT	D	-0.01%
PM	B	-0.01%
JXN	C	-0.01%
UBS	B	-0.01%
RY	B	-0.01%
KEY	C	-0.01%
MUFG	A	-0.01%
GS	A	-0.01%
NWG	A	-0.01%
TD	F	-0.01%
CM	C	-0.01%
USB	D	-0.01%
AIG	D	-0.01%