NACP vs. MMLG ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to First Trust Multi-Manager Large Growth ETF (MMLG)

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

MMLG

First Trust Multi-Manager Large Growth ETF

MMLG Description

The investment seeks to provide long-term capital appreciation. Under normal market conditions, the fund will invest at least 80% of its net assets in equity securities issued by large capitalization companies. Its portfolio will be principally composed of common stocks issued by companies domiciled in the United States, common stocks issued by non-U.S. companies that are principally traded in the United States and ADR. The fund utilizes a multi-manager approach to provide exposure to the large capitalization growth segment of the equity market through the blending of multiple portfolio management teams. It is non-diversified.

Grade (RS Rating)

Last Trade

$30.47

Average Daily Volume

12,050

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	NACP	MMLG
30 Days	2.08%	5.74%
60 Days	4.48%	7.34%
90 Days	6.57%	8.66%
12 Months	32.92%	35.13%

23 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in MMLG	Overlap
AAPL	C	5.03%	4.51%	4.51%
AMZN	C	4.47%	6.71%	4.47%
AXP	A	0.56%	0.47%	0.47%
BSX	B	0.41%	0.42%	0.41%
EQIX	A	0.29%	0.41%	0.29%
EW	C	0.15%	0.28%	0.15%
GOOGL	C	2.41%	2.23%	2.23%
IR	B	0.12%	0.51%	0.12%
MA	C	1.4%	1.46%	1.4%
META	D	3.63%	4.51%	3.63%
MRK	F	1.03%	0.63%	0.63%
MSFT	F	4.63%	6.79%	4.63%
NDSN	B	0.05%	0.31%	0.05%
NKE	D	0.36%	0.33%	0.33%
NVDA	C	4.9%	10.19%	4.9%
PANW	C	1.81%	0.43%	0.43%
QCOM	F	3.18%	0.61%	0.61%
SPGI	C	0.55%	0.4%	0.4%
TSLA	B	2.22%	0.84%	0.84%
UBER	D	2.29%	1.9%	1.9%
UNH	C	1.95%	0.48%	0.48%
V	A	1.53%	1.09%	1.09%
VST	B	0.11%	0.12%	0.11%

NACP Overweight 174 Positions Relative to MMLG

Symbol	Grade	Weight
ACN	C	3.58%
IBM	C	3.08%
JPM	A	2.39%
VZ	C	2.26%
GOOG	C	2.16%
XOM	B	2.0%
MU	D	1.75%
INTC	D	1.52%
JNJ	D	1.44%
ABBV	D	1.22%
CVX	A	1.04%
KO	D	0.99%
BAC	A	0.99%
PEP	F	0.92%
TMO	F	0.83%
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%
UNP	C	0.56%
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%
ADP	B	0.4%
BA	F	0.38%
MELI	D	0.38%
CI	F	0.37%
DE	A	0.36%
MDLZ	F	0.36%
BMY	B	0.35%
UPS	C	0.35%
GILD	C	0.35%
SO	D	0.35%
SCHW	B	0.33%
DUK	C	0.32%
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%
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%
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%
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%
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 54 Positions Relative to MMLG

Symbol	Grade	Weight
NOW	A	-3.95%
SHOP	B	-2.74%
NFLX	A	-2.61%
TEAM	A	-2.16%
AVGO	D	-2.05%
DDOG	A	-2.02%
SPOT	B	-1.84%
SE	B	-1.84%
DASH	A	-1.84%
NU	C	-1.82%
DXCM	D	-1.66%
SQ	B	-1.65%
ICE	C	-1.47%
LLY	F	-1.46%
IOT	A	-1.36%
ASML	F	-1.28%
NET	B	-1.27%
ENTG	D	-1.1%
OKTA	C	-1.06%
CRM	B	-0.91%
RARE	D	-0.84%
RBLX	C	-0.8%
INTU	C	-0.77%
CMG	B	-0.75%
ADBE	C	-0.67%
SNOW	C	-0.64%
ORLY	B	-0.63%
LYV	A	-0.61%
VEEV	C	-0.6%
KLAC	D	-0.57%
SHW	A	-0.56%
IT	C	-0.54%
CDNS	B	-0.53%
ANET	C	-0.47%
WDAY	B	-0.45%
VRTX	F	-0.43%
ARES	A	-0.42%
CDW	F	-0.41%
PTC	A	-0.4%
KKR	A	-0.39%
BLDR	D	-0.38%
COHR	B	-0.37%
MDB	C	-0.37%
MNST	C	-0.36%
APH	A	-0.31%
ACGL	D	-0.31%
ABNB	C	-0.31%
AMD	F	-0.29%
EL	F	-0.29%
TXN	C	-0.29%
HUBS	A	-0.28%
DKNG	B	-0.27%
PINS	D	-0.21%
FANG	D	-0.18%