NACP vs. JUST ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to Goldman Sachs JUST U.S. Large Cap Equity ETF (JUST)

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

JUST

Goldman Sachs JUST U.S. Large Cap Equity ETF

JUST Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Goldman Sachs ActiveBeta® U.S. Small Cap Equity Index. The fund invests at least 80% of its assets in securities included in its index. The index is designed to deliver exposure to equity securities of small-capitalization U.S. issuers. The index is constructed using the patented ActiveBeta® Portfolio Construction Methodology, which was developed to provide exposure to the "factors" that are commonly tied to a stock's outperformance relative to market returns. These factors include value, momentum, quality and low volatility.

Grade (RS Rating)

Last Trade

$84.67

Average Daily Volume

16,662

Number of Holdings ^*

456

* may have additional holdings in another (foreign) market

Performance

Period	NACP	JUST
30 Days	2.08%	2.45%
60 Days	4.48%	4.36%
90 Days	6.57%	5.67%
12 Months	32.92%	31.80%

166 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in JUST	Overlap
A	D	0.14%	0.08%	0.08%
AAPL	C	5.03%	7.25%	5.03%
ABBV	D	1.22%	0.67%	0.67%
ABT	B	0.69%	0.45%	0.45%
ACM	A	0.05%	0.04%	0.04%
ACN	C	3.58%	0.58%	0.58%
ADM	D	0.11%	0.07%	0.07%
ADP	B	0.4%	0.31%	0.31%
AEP	D	0.19%	0.14%	0.14%
AES	F	0.05%	0.03%	0.03%
ALB	C	0.04%	0.03%	0.03%
AME	A	0.13%	0.11%	0.11%
AMZN	C	4.47%	4.89%	4.47%
AON	A	0.24%	0.21%	0.21%
APTV	D	0.08%	0.04%	0.04%
AVB	B	0.11%	0.11%	0.11%
AXP	A	0.56%	0.41%	0.41%
BA	F	0.38%	0.24%	0.24%
BAC	A	0.99%	0.9%	0.9%
BAH	F	0.07%	0.05%	0.05%
BAX	D	0.07%	0.04%	0.04%
BDX	F	0.23%	0.15%	0.15%
BG	F	0.05%	0.03%	0.03%
BIIB	F	0.1%	0.05%	0.05%
BK	A	0.17%	0.17%	0.17%
BMY	B	0.35%	0.27%	0.27%
BSX	B	0.41%	0.29%	0.29%
BWA	D	0.03%	0.02%	0.02%
C	A	0.45%	0.38%	0.38%
CCI	D	0.18%	0.15%	0.15%
CF	B	0.05%	0.04%	0.04%
CI	F	0.37%	0.2%	0.2%
CLX	B	0.07%	0.05%	0.05%
CMI	A	0.15%	0.13%	0.13%
CNH	C	0.03%	0.03%	0.03%
COP	C	0.49%	0.31%	0.31%
CPB	D	0.04%	0.02%	0.02%
CSX	B	0.24%	0.18%	0.18%
CVS	D	0.27%	0.18%	0.18%
CVX	A	1.04%	0.67%	0.67%
D	C	0.18%	0.13%	0.13%
DAL	C	0.09%	0.11%	0.09%
DD	D	0.14%	0.09%	0.09%
DE	A	0.36%	0.25%	0.25%
DGX	A	0.06%	0.04%	0.04%
DHR	F	0.64%	0.35%	0.35%
DUK	C	0.32%	0.24%	0.24%
DVN	F	0.1%	0.06%	0.06%
EA	A	0.45%	0.12%	0.12%
EBAY	D	0.11%	0.08%	0.08%
ECL	D	0.21%	0.16%	0.16%
EIX	B	0.11%	0.09%	0.09%
ELV	F	0.47%	0.21%	0.21%
EMN	D	0.04%	0.03%	0.03%
EMR	A	0.22%	0.18%	0.18%
EQIX	A	0.29%	0.29%	0.29%
ES	D	0.08%	0.06%	0.06%
ETN	A	0.44%	0.37%	0.37%
ETR	B	0.08%	0.09%	0.08%
EW	C	0.15%	0.09%	0.09%
EXC	C	0.15%	0.11%	0.11%
F	C	0.15%	0.11%	0.11%
FCX	D	0.25%	0.16%	0.16%
FDX	B	0.25%	0.17%	0.17%
GE	D	0.69%	0.5%	0.5%
GILD	C	0.35%	0.26%	0.26%
GM	B	0.18%	0.17%	0.17%
GOOG	C	2.16%	1.91%	1.91%
GOOGL	C	2.41%	2.25%	2.25%
HBAN	A	0.07%	0.07%	0.07%
HES	B	0.15%	0.1%	0.1%
HLT	A	0.17%	0.16%	0.16%
HON	B	0.46%	0.38%	0.38%
HPQ	B	0.62%	0.08%	0.08%
HRL	D	0.03%	0.02%	0.02%
HSY	F	0.1%	0.07%	0.07%
IBM	C	3.08%	0.42%	0.42%
IFF	D	0.09%	0.06%	0.06%
ILMN	D	0.07%	0.05%	0.05%
INTC	D	1.52%	0.23%	0.23%
IPG	D	0.16%	0.03%	0.03%
IR	B	0.12%	0.11%	0.11%
JCI	C	0.17%	0.15%	0.15%
JPM	A	2.39%	2.01%	2.01%
K	A	0.07%	0.06%	0.06%
KMI	A	0.15%	0.12%	0.12%
KO	D	0.99%	0.62%	0.62%
LH	C	0.07%	0.05%	0.05%
LHX	C	0.16%	0.12%	0.12%
LII	A	0.07%	0.05%	0.05%
LNG	B	0.16%	0.11%	0.11%
LOW	D	0.51%	0.41%	0.41%
LUV	C	0.06%	0.05%	0.05%
MA	C	1.4%	1.1%	1.1%
MAR	B	0.19%	0.17%	0.17%
MCO	B	0.26%	0.22%	0.22%
MDLZ	F	0.36%	0.22%	0.22%
MDT	D	0.42%	0.25%	0.25%
MET	A	0.17%	0.14%	0.14%
MLM	B	0.12%	0.09%	0.09%
MMM	D	0.26%	0.19%	0.19%
MOS	F	0.03%	0.02%	0.02%
MPC	D	0.23%	0.13%	0.13%
MRK	F	1.03%	0.56%	0.56%
MS	A	0.47%	0.45%	0.45%
MSFT	F	4.63%	6.93%	4.63%
MU	D	1.75%	0.24%	0.24%
NDAQ	A	0.08%	0.09%	0.08%
NDSN	B	0.05%	0.04%	0.04%
NEE	D	0.66%	0.43%	0.43%
NEM	D	0.22%	0.12%	0.12%
NKE	D	0.36%	0.24%	0.24%
NOC	D	0.29%	0.18%	0.18%
NRG	B	0.07%	0.05%	0.05%
NVDA	C	4.9%	7.5%	4.9%
OC	A	0.05%	0.05%	0.05%
OKE	A	0.18%	0.15%	0.15%
OTIS	C	0.13%	0.1%	0.1%
PANW	C	1.81%	0.26%	0.26%
PEG	A	0.14%	0.12%	0.12%
PEP	F	0.92%	0.58%	0.58%
PFE	D	0.62%	0.33%	0.33%
PFG	D	0.03%	0.06%	0.03%
PLD	D	0.42%	0.36%	0.36%
PNC	B	0.27%	0.24%	0.24%
PPG	F	0.1%	0.07%	0.07%
PPL	B	0.08%	0.07%	0.07%
PYPL	B	0.27%	0.22%	0.22%
QCOM	F	3.18%	0.4%	0.4%
RCL	A	0.12%	0.15%	0.12%
RF	A	0.07%	0.07%	0.07%
RMD	C	0.11%	0.07%	0.07%
ROK	B	0.11%	0.08%	0.08%
SBAC	D	0.08%	0.08%	0.08%
SCHW	B	0.33%	0.35%	0.33%
SPGI	C	0.55%	0.46%	0.46%
SRE	A	0.18%	0.16%	0.16%
SWK	D	0.06%	0.03%	0.03%
SYF	B	0.08%	0.07%	0.07%
T	A	0.45%	0.36%	0.36%
TAP	C	0.03%	0.03%	0.03%
TFC	A	0.22%	0.18%	0.18%
TFX	F	0.04%	0.02%	0.02%
TMO	F	0.83%	0.46%	0.46%
TRV	B	0.18%	0.17%	0.17%
TSN	B	0.07%	0.05%	0.05%
TT	A	0.29%	0.23%	0.23%
TXT	D	0.06%	0.04%	0.04%
UAL	A	0.05%	0.08%	0.05%
UBER	D	2.29%	0.38%	0.38%
UNH	C	1.95%	1.22%	1.22%
UNP	C	0.56%	0.37%	0.37%
UPS	C	0.35%	0.25%	0.25%
URI	B	0.18%	0.14%	0.14%
USFD	A	0.04%	0.04%	0.04%
V	A	1.53%	1.24%	1.24%
VLO	C	0.17%	0.11%	0.11%
VRSK	A	0.13%	0.11%	0.11%
VST	B	0.11%	0.13%	0.11%
VZ	C	2.26%	0.38%	0.38%
WBA	F	0.03%	0.02%	0.02%
WMB	A	0.19%	0.16%	0.16%
WMT	A	0.73%	0.97%	0.73%
XEL	A	0.12%	0.11%	0.11%
XOM	B	2.0%	1.29%	1.29%
XYL	D	0.11%	0.07%	0.07%

NACP Overweight 31 Positions Relative to JUST

Symbol	Grade	Weight
META	D	3.63%
TSLA	B	2.22%
JNJ	D	1.44%
DELL	C	0.54%
MELI	D	0.38%
SO	D	0.35%
ITW	B	0.27%
PSX	C	0.22%
NSC	B	0.2%
HWM	A	0.14%
KR	B	0.13%
VMC	B	0.12%
ED	D	0.12%
KHC	F	0.12%
WEC	A	0.1%
PCG	A	0.09%
TROW	B	0.09%
FE	C	0.08%
DTE	C	0.08%
EXPD	D	0.07%
CMS	C	0.07%
DOC	D	0.06%
HUBB	B	0.06%
SJM	D	0.05%
AMH	D	0.05%
NI	A	0.05%
LNT	A	0.05%
JBHT	C	0.05%
REG	B	0.04%
LECO	B	0.04%
SCCO	F	0.03%

NACP Underweight 290 Positions Relative to JUST

Symbol	Grade	Weight
AVGO	D	-1.69%
LLY	F	-1.41%
COST	B	-1.09%
HD	A	-1.07%
PG	A	-1.0%
CRM	B	-0.68%
LIN	D	-0.57%
GS	A	-0.54%
DIS	B	-0.53%
CSCO	B	-0.52%
ADBE	C	-0.51%
AMD	F	-0.49%
CAT	B	-0.48%
NOW	A	-0.46%
BLK	C	-0.45%
BKNG	A	-0.45%
PGR	A	-0.44%
ISRG	A	-0.43%
TXN	C	-0.41%
INTU	C	-0.41%
RTX	C	-0.4%
CMCSA	B	-0.37%
TJX	A	-0.36%
AMGN	D	-0.35%
AMAT	F	-0.34%
MMC	B	-0.32%
FI	A	-0.31%
SYK	C	-0.31%
AMT	D	-0.31%
SBUX	A	-0.3%
LMT	D	-0.29%
VRTX	F	-0.28%
TMUS	B	-0.26%
WM	A	-0.25%
ICE	C	-0.25%
GEV	B	-0.23%
ADI	D	-0.23%
USB	A	-0.23%
SHW	A	-0.23%
CME	A	-0.23%
CMG	B	-0.22%
LRCX	F	-0.21%
DLR	B	-0.2%
CEG	D	-0.2%
MCK	B	-0.2%
TGT	F	-0.19%
CL	D	-0.19%
AFL	B	-0.18%
CDNS	B	-0.18%
ZTS	D	-0.18%
SNPS	B	-0.18%
REGN	F	-0.18%
APD	A	-0.18%
MRVL	B	-0.17%
COF	B	-0.17%
ABNB	C	-0.16%
CARR	D	-0.16%
AMP	A	-0.16%
HCA	F	-0.15%
ALL	A	-0.15%
CBRE	B	-0.14%
AIG	B	-0.14%
ADSK	A	-0.14%
WDAY	B	-0.13%
FTNT	C	-0.13%
CPRT	A	-0.13%
MSCI	C	-0.13%
PRU	A	-0.13%
PWR	A	-0.12%
DFS	B	-0.12%
LULU	C	-0.11%
IRM	D	-0.11%
KMB	D	-0.11%
KDP	D	-0.1%
SYY	B	-0.1%
HIG	B	-0.1%
COR	B	-0.1%
MTB	A	-0.1%
ACGL	D	-0.1%
CSGP	D	-0.1%
BKR	B	-0.1%
VTR	C	-0.09%
WAB	B	-0.09%
GRMN	B	-0.09%
CTSH	B	-0.09%
IT	C	-0.09%
GIS	D	-0.09%
FITB	A	-0.09%
WTW	B	-0.09%
EQR	B	-0.09%
BR	A	-0.08%
HUM	C	-0.08%
WY	D	-0.08%
IDXX	F	-0.08%
TSCO	D	-0.08%
DOW	F	-0.08%
GLW	B	-0.08%
OXY	D	-0.08%
CHTR	C	-0.08%
TTWO	A	-0.08%
IQV	D	-0.08%
STT	A	-0.08%
AEE	A	-0.07%
ESS	B	-0.07%
ANSS	B	-0.07%
CAH	B	-0.07%
DXCM	D	-0.07%
FTV	C	-0.07%
LPLA	A	-0.07%
CNC	D	-0.07%
KEYS	A	-0.07%
DECK	A	-0.07%
AWK	D	-0.07%
ALNY	D	-0.07%
NTAP	C	-0.06%
KIM	A	-0.06%
GDDY	A	-0.06%
MPWR	F	-0.06%
TYL	B	-0.06%
NET	B	-0.06%
CBOE	B	-0.06%
EXPE	B	-0.06%
HPE	B	-0.06%
WBD	C	-0.06%
HAL	C	-0.06%
ON	D	-0.06%
IEX	B	-0.05%
LVS	C	-0.05%
ZM	B	-0.05%
J	F	-0.05%
EQH	B	-0.05%
BALL	D	-0.05%
TRU	D	-0.05%
WAT	B	-0.05%
UDR	B	-0.05%
ZBH	C	-0.05%
MKC	D	-0.05%
LDOS	C	-0.05%
KEY	B	-0.05%
FSLR	F	-0.05%
BBY	D	-0.05%
CNP	B	-0.05%
ZBRA	B	-0.05%
LYB	F	-0.05%
OMC	C	-0.05%
CSL	C	-0.05%
DOCU	A	-0.04%
GWRE	A	-0.04%
TER	D	-0.04%
GEN	B	-0.04%
TPR	B	-0.04%
Z	A	-0.04%
NTNX	A	-0.04%
SOFI	A	-0.04%
ZS	C	-0.04%
UNM	A	-0.04%
EL	F	-0.04%
HOLX	D	-0.04%
JLL	D	-0.04%
BXP	D	-0.04%
TW	A	-0.04%
MDB	C	-0.04%
PNR	A	-0.04%
RGA	A	-0.04%
WSM	B	-0.04%
MAS	D	-0.04%
WDC	D	-0.04%
AAL	B	-0.03%
DAY	B	-0.03%
OKTA	C	-0.03%
PNFP	B	-0.03%
CMA	A	-0.03%
INGR	B	-0.03%
JNPR	F	-0.03%
AA	B	-0.03%
AYI	B	-0.03%
INCY	C	-0.03%
MKTX	D	-0.03%
ALLY	C	-0.03%
PNW	B	-0.03%
BLD	D	-0.03%
ATR	B	-0.03%
MRNA	F	-0.03%
NWSA	B	-0.03%
OWL	A	-0.03%
DKS	C	-0.03%
AFRM	B	-0.03%
AKAM	D	-0.03%
FOXA	B	-0.03%
NCLH	B	-0.03%
NVT	B	-0.03%
ITT	A	-0.03%
AVTR	F	-0.03%
FHN	A	-0.03%
AIZ	A	-0.03%
FFIV	B	-0.03%
CHRW	C	-0.03%
SCI	B	-0.03%
KMX	B	-0.03%
VNT	B	-0.02%
ESTC	C	-0.02%
SLM	A	-0.02%
LEA	D	-0.02%
SMAR	A	-0.02%
DBX	B	-0.02%
AZEK	A	-0.02%
FOX	A	-0.02%
THG	A	-0.02%
WHR	B	-0.02%
RGEN	D	-0.02%
LNC	B	-0.02%
SITE	D	-0.02%
ETSY	D	-0.02%
FCN	D	-0.02%
MTCH	D	-0.02%
APA	D	-0.02%
FMC	D	-0.02%
PVH	C	-0.02%
AWI	A	-0.02%
PARA	C	-0.02%
DVA	B	-0.02%
LPX	B	-0.02%
KBR	F	-0.02%
ALK	C	-0.02%
IVZ	B	-0.02%
COLB	A	-0.02%
OSK	B	-0.02%
AXS	A	-0.02%
HSIC	B	-0.02%
VFC	C	-0.02%
RRC	B	-0.02%
BBWI	D	-0.02%
BERY	B	-0.02%
MTG	C	-0.02%
H	B	-0.02%
CE	F	-0.02%
WH	B	-0.02%
GPK	C	-0.02%
HRB	D	-0.02%
HAS	D	-0.02%
VOYA	B	-0.02%
CIEN	B	-0.02%
SNV	B	-0.02%
SOLV	C	-0.02%
MGM	D	-0.02%
FBIN	D	-0.02%
EXEL	B	-0.02%
ARMK	B	-0.02%
KSS	F	-0.01%
CAR	C	-0.01%
PINC	B	-0.01%
DV	C	-0.01%
TDC	D	-0.01%
RARE	D	-0.01%
NVST	B	-0.01%
AGR	B	-0.01%
SPR	D	-0.01%
PEGA	A	-0.01%
XRAY	F	-0.01%
PENN	C	-0.01%
OGN	D	-0.01%
PAG	B	-0.01%
W	F	-0.01%
YETI	C	-0.01%
MDU	D	-0.01%
BHF	B	-0.01%
PII	D	-0.01%
WU	D	-0.01%
NWS	B	-0.01%
TNL	A	-0.01%
INSP	D	-0.01%
M	D	-0.01%
HOG	D	-0.01%
GAP	C	-0.01%
TKR	D	-0.01%
CHH	A	-0.01%
CRUS	D	-0.01%
GTLB	B	-0.01%
SON	D	-0.01%
ST	F	-0.01%
LITE	B	-0.01%
ZG	A	-0.01%
LOPE	B	-0.01%
AGCO	D	-0.01%
DINO	D	-0.01%
AGO	B	-0.01%
CLF	F	-0.01%
QS	F	-0.0%
SNDR	B	-0.0%
RKT	F	-0.0%