NACP vs. RVRB ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to Reverb ETF (RVRB)

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

RVRB

Reverb ETF

RVRB Description

The fund will invest in equity securities of companies that are publicly listed on one or more major U.S. national securities exchanges and which are among the largest approximately 500 domestic equity companies as determined by the Adviser on the basis of their free float market capitalization (the "Investable Universe"). In managing the fund, the Adviser employs a market "sentiment" based investment strategy, determined in accordance with its own proprietary web-based algorithm (the "Reverberate App" or the "App"), to adjust the weightings of positions in the fund"s portfolio.

Grade (RS Rating)

Last Trade

$31.38

Average Daily Volume

212

Number of Holdings ^*

510

* may have additional holdings in another (foreign) market

Performance

Period	NACP	RVRB
30 Days	2.08%	3.12%
60 Days	4.48%	5.02%
90 Days	6.57%	7.06%
12 Months	32.92%	31.49%

176 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in RVRB	Overlap
A	D	0.14%	0.07%	0.07%
AAPL	C	5.03%	5.64%	5.03%
ABBV	D	1.22%	0.52%	0.52%
ABT	B	0.69%	0.35%	0.35%
ACN	C	3.58%	0.39%	0.39%
ADM	D	0.11%	0.04%	0.04%
ADP	B	0.4%	0.21%	0.21%
AEP	D	0.19%	0.09%	0.09%
AES	F	0.05%	0.01%	0.01%
ALB	C	0.04%	0.01%	0.01%
AME	A	0.13%	0.09%	0.09%
AMZN	C	4.47%	4.4%	4.4%
AON	A	0.24%	0.14%	0.14%
APTV	D	0.08%	0.02%	0.02%
AVB	B	0.11%	0.06%	0.06%
AXP	A	0.56%	0.37%	0.37%
BA	F	0.38%	0.14%	0.14%
BAC	A	0.99%	0.6%	0.6%
BAH	F	0.07%	0.04%	0.04%
BAX	D	0.07%	0.03%	0.03%
BDX	F	0.23%	0.12%	0.12%
BG	F	0.05%	0.01%	0.01%
BIIB	F	0.1%	0.04%	0.04%
BK	A	0.17%	0.1%	0.1%
BMY	B	0.35%	0.21%	0.21%
BSX	B	0.41%	0.24%	0.24%
C	A	0.45%	0.23%	0.23%
CCI	D	0.18%	0.08%	0.08%
CF	B	0.05%	0.02%	0.02%
CI	F	0.37%	0.17%	0.17%
CLX	B	0.07%	0.03%	0.03%
CMI	A	0.15%	0.09%	0.09%
CMS	C	0.07%	0.03%	0.03%
CNH	C	0.03%	0.01%	0.01%
COP	C	0.49%	0.23%	0.23%
CPB	D	0.04%	0.01%	0.01%
CSX	B	0.24%	0.13%	0.13%
CVS	D	0.27%	0.12%	0.12%
CVX	A	1.04%	0.52%	0.52%
D	C	0.18%	0.08%	0.08%
DAL	C	0.09%	0.07%	0.07%
DD	D	0.14%	0.06%	0.06%
DE	A	0.36%	0.2%	0.2%
DELL	C	0.54%	0.16%	0.16%
DGX	A	0.06%	0.03%	0.03%
DHR	F	0.64%	0.31%	0.31%
DTE	C	0.08%	0.05%	0.05%
DUK	C	0.32%	0.15%	0.15%
DVN	F	0.1%	0.05%	0.05%
EA	A	0.45%	0.07%	0.07%
EBAY	D	0.11%	0.06%	0.06%
ECL	D	0.21%	0.13%	0.13%
ED	D	0.12%	0.06%	0.06%
ELV	F	0.47%	0.16%	0.16%
EMR	A	0.22%	0.13%	0.13%
EQIX	A	0.29%	0.17%	0.17%
ES	D	0.08%	0.04%	0.04%
ETN	A	0.44%	0.26%	0.26%
ETR	B	0.08%	0.06%	0.06%
EW	C	0.15%	0.07%	0.07%
EXC	C	0.15%	0.07%	0.07%
EXPD	D	0.07%	0.02%	0.02%
F	C	0.15%	0.08%	0.08%
FCX	D	0.25%	0.11%	0.11%
FDX	B	0.25%	0.13%	0.13%
FE	C	0.08%	0.04%	0.04%
GE	D	0.69%	0.34%	0.34%
GILD	C	0.35%	0.2%	0.2%
GM	B	0.18%	0.11%	0.11%
GOOGL	C	2.41%	4.05%	2.41%
HBAN	A	0.07%	0.04%	0.04%
HES	B	0.15%	0.08%	0.08%
HLT	A	0.17%	0.11%	0.11%
HON	B	0.46%	0.21%	0.21%
HPQ	B	0.62%	0.06%	0.06%
HRL	D	0.03%	0.03%	0.03%
HSY	F	0.1%	0.07%	0.07%
HUBB	B	0.06%	0.03%	0.03%
HWM	A	0.14%	0.08%	0.08%
IBM	C	3.08%	0.33%	0.33%
IFF	D	0.09%	0.04%	0.04%
ILMN	D	0.07%	0.04%	0.04%
INTC	D	1.52%	0.18%	0.18%
IR	B	0.12%	0.07%	0.07%
ITW	B	0.27%	0.14%	0.14%
JBHT	C	0.05%	0.04%	0.04%
JCI	C	0.17%	0.1%	0.1%
JNJ	D	1.44%	0.46%	0.46%
JPM	A	2.39%	1.18%	1.18%
K	A	0.07%	0.05%	0.05%
KHC	F	0.12%	0.07%	0.07%
KMI	A	0.15%	0.11%	0.11%
KO	D	0.99%	0.5%	0.5%
KR	B	0.13%	0.08%	0.08%
LH	C	0.07%	0.02%	0.02%
LHX	C	0.16%	0.08%	0.08%
LNG	B	0.16%	0.08%	0.08%
LOW	D	0.51%	0.28%	0.28%
LUV	C	0.06%	0.04%	0.04%
MA	C	1.4%	0.87%	0.87%
MAR	B	0.19%	0.14%	0.14%
MCO	B	0.26%	0.15%	0.15%
MDLZ	F	0.36%	0.16%	0.16%
MDT	D	0.42%	0.2%	0.2%
MELI	D	0.38%	0.12%	0.12%
MET	A	0.17%	0.11%	0.11%
META	D	3.63%	2.4%	2.4%
MLM	B	0.12%	0.08%	0.08%
MMM	D	0.26%	0.13%	0.13%
MOS	F	0.03%	0.01%	0.01%
MPC	D	0.23%	0.09%	0.09%
MRK	F	1.03%	0.35%	0.35%
MS	A	0.47%	0.38%	0.38%
MSFT	F	4.63%	6.29%	4.63%
MU	D	1.75%	0.2%	0.2%
NDAQ	A	0.08%	0.08%	0.08%
NEE	D	0.66%	0.27%	0.27%
NEM	D	0.22%	0.08%	0.08%
NKE	D	0.36%	0.21%	0.21%
NOC	D	0.29%	0.13%	0.13%
NRG	B	0.07%	0.02%	0.02%
NSC	B	0.2%	0.1%	0.1%
NVDA	C	4.9%	6.15%	4.9%
OTIS	C	0.13%	0.07%	0.07%
PANW	C	1.81%	0.23%	0.23%
PCG	A	0.09%	0.1%	0.09%
PEG	A	0.14%	0.08%	0.08%
PEP	F	0.92%	0.39%	0.39%
PFE	D	0.62%	0.25%	0.25%
PFG	D	0.03%	0.04%	0.03%
PLD	D	0.42%	0.18%	0.18%
PNC	B	0.27%	0.15%	0.15%
PPG	F	0.1%	0.06%	0.06%
PPL	B	0.08%	0.04%	0.04%
PSX	C	0.22%	0.1%	0.1%
PYPL	B	0.27%	0.16%	0.16%
QCOM	F	3.18%	0.32%	0.32%
RCL	A	0.12%	0.1%	0.1%
RF	A	0.07%	0.04%	0.04%
RMD	C	0.11%	0.06%	0.06%
ROK	B	0.11%	0.06%	0.06%
SBAC	D	0.08%	0.04%	0.04%
SCCO	F	0.03%	0.14%	0.03%
SCHW	B	0.33%	0.2%	0.2%
SJM	D	0.05%	0.01%	0.01%
SO	D	0.35%	0.17%	0.17%
SPGI	C	0.55%	0.29%	0.29%
SRE	A	0.18%	0.1%	0.1%
T	A	0.45%	0.28%	0.28%
TFC	A	0.22%	0.11%	0.11%
TMO	F	0.83%	0.34%	0.34%
TROW	B	0.09%	0.05%	0.05%
TRV	B	0.18%	0.1%	0.1%
TSLA	B	2.22%	1.62%	1.62%
TSN	B	0.07%	0.04%	0.04%
TT	A	0.29%	0.16%	0.16%
TXT	D	0.06%	0.03%	0.03%
UAL	A	0.05%	0.03%	0.03%
UBER	D	2.29%	0.26%	0.26%
UNH	C	1.95%	0.95%	0.95%
UNP	C	0.56%	0.26%	0.26%
UPS	C	0.35%	0.2%	0.2%
URI	B	0.18%	0.11%	0.11%
V	A	1.53%	1.19%	1.19%
VLO	C	0.17%	0.08%	0.08%
VMC	B	0.12%	0.07%	0.07%
VRSK	A	0.13%	0.07%	0.07%
VST	B	0.11%	0.09%	0.09%
VZ	C	2.26%	0.29%	0.29%
WBA	F	0.03%	0.01%	0.01%
WEC	A	0.1%	0.06%	0.06%
WMB	A	0.19%	0.12%	0.12%
WMT	A	0.73%	1.23%	0.73%
XEL	A	0.12%	0.07%	0.07%
XOM	B	2.0%	0.9%	0.9%
XYL	D	0.11%	0.05%	0.05%

NACP Overweight 21 Positions Relative to RVRB

Symbol	Grade	Weight
GOOG	C	2.16%
OKE	A	0.18%
IPG	D	0.16%
EIX	B	0.11%
SYF	B	0.08%
LII	A	0.07%
SWK	D	0.06%
DOC	D	0.06%
AMH	D	0.05%
NI	A	0.05%
OC	A	0.05%
ACM	A	0.05%
NDSN	B	0.05%
LNT	A	0.05%
REG	B	0.04%
LECO	B	0.04%
TFX	F	0.04%
EMN	D	0.04%
USFD	A	0.04%
BWA	D	0.03%
TAP	C	0.03%

NACP Underweight 334 Positions Relative to RVRB

Symbol	Grade	Weight
BRK.A	B	-1.65%
AVGO	D	-1.32%
LLY	F	-1.31%
ORCL	B	-0.9%
COST	B	-0.77%
HD	A	-0.75%
PG	A	-0.69%
NFLX	A	-0.64%
CRM	B	-0.55%
TMUS	B	-0.46%
WFC	A	-0.45%
ADBE	C	-0.41%
CSCO	B	-0.41%
NOW	A	-0.4%
AMD	F	-0.39%
LIN	D	-0.38%
INTU	C	-0.36%
MCD	D	-0.36%
PM	B	-0.35%
CAT	B	-0.35%
GS	A	-0.34%
DIS	B	-0.34%
ISRG	A	-0.34%
TXN	C	-0.33%
BKNG	A	-0.32%
CMCSA	B	-0.3%
AMGN	D	-0.28%
BLK	C	-0.27%
AMAT	F	-0.27%
RTX	C	-0.27%
PGR	A	-0.26%
SYK	C	-0.25%
TJX	A	-0.25%
PLTR	B	-0.24%
KKR	A	-0.24%
LMT	D	-0.24%
SHOP	B	-0.24%
FI	A	-0.23%
BX	A	-0.23%
VRTX	F	-0.22%
ANET	C	-0.22%
MMC	B	-0.2%
CB	C	-0.2%
ADI	D	-0.19%
SBUX	A	-0.19%
LRCX	F	-0.19%
PH	A	-0.18%
KLAC	D	-0.17%
CTAS	B	-0.17%
GEV	B	-0.17%
APO	B	-0.17%
MO	A	-0.17%
TD	F	-0.17%
SHW	A	-0.17%
CDNS	B	-0.16%
WM	A	-0.16%
MCK	B	-0.16%
ORLY	B	-0.16%
APH	A	-0.16%
MSI	B	-0.16%
ICE	C	-0.16%
CMG	B	-0.16%
AMT	D	-0.16%
TDG	D	-0.16%
APP	B	-0.16%
ZTS	D	-0.15%
WELL	A	-0.15%
ABNB	C	-0.15%
FICO	B	-0.15%
REGN	F	-0.15%
SPOT	B	-0.15%
CRWD	B	-0.15%
HCA	F	-0.15%
USB	A	-0.14%
EOG	A	-0.14%
MRVL	B	-0.14%
SNPS	B	-0.14%
COIN	C	-0.13%
TGT	F	-0.13%
CL	D	-0.13%
CEG	D	-0.13%
NU	C	-0.13%
FTNT	C	-0.13%
COF	B	-0.12%
ADSK	A	-0.12%
CARR	D	-0.12%
EPD	A	-0.12%
RSG	A	-0.12%
APD	A	-0.12%
WDAY	B	-0.12%
DASH	A	-0.12%
PSA	D	-0.11%
AMP	A	-0.11%
ROP	B	-0.11%
PCAR	B	-0.11%
TEAM	A	-0.11%
AFL	B	-0.11%
AJG	B	-0.11%
CPRT	A	-0.1%
MNST	C	-0.1%
NXPI	D	-0.1%
CHTR	C	-0.1%
DLR	B	-0.1%
SPG	B	-0.1%
ET	A	-0.1%
TTD	B	-0.1%
FIS	C	-0.09%
FLUT	A	-0.09%
ODFL	B	-0.09%
MPLX	A	-0.09%
AIG	B	-0.09%
ALL	A	-0.09%
O	D	-0.09%
SQ	B	-0.09%
PAYX	C	-0.09%
DHI	D	-0.09%
GWW	B	-0.08%
BKR	B	-0.08%
STZ	D	-0.08%
VRT	B	-0.08%
MSCI	C	-0.08%
DFS	B	-0.08%
COR	B	-0.08%
KDP	D	-0.08%
MTD	D	-0.08%
CPNG	D	-0.08%
PRU	A	-0.08%
KVUE	A	-0.08%
ROST	C	-0.08%
LEN	D	-0.08%
WCN	A	-0.08%
PWR	A	-0.08%
DDOG	A	-0.08%
FAST	B	-0.08%
KMB	D	-0.08%
OXY	D	-0.08%
IQV	D	-0.07%
LVS	C	-0.07%
CCEP	C	-0.07%
NUE	C	-0.07%
ALNY	D	-0.07%
SYY	B	-0.07%
CBRE	B	-0.07%
GRMN	B	-0.07%
MTB	A	-0.07%
IT	C	-0.07%
GEHC	F	-0.07%
CTVA	C	-0.07%
YUM	B	-0.07%
STLA	F	-0.07%
GLW	B	-0.07%
CTSH	B	-0.07%
TRGP	B	-0.07%
SNOW	C	-0.07%
CCL	B	-0.06%
BRO	B	-0.06%
CNC	D	-0.06%
DOW	F	-0.06%
LYV	A	-0.06%
IRM	D	-0.06%
TTWO	A	-0.06%
VICI	C	-0.06%
FANG	D	-0.06%
VEEV	C	-0.06%
NET	B	-0.06%
HIG	B	-0.06%
WTW	B	-0.06%
RBLX	C	-0.06%
RJF	A	-0.06%
GIS	D	-0.06%
EXR	D	-0.06%
WAB	B	-0.06%
MCHP	D	-0.06%
LULU	C	-0.06%
NTAP	C	-0.05%
AEE	A	-0.05%
VLTO	D	-0.05%
CDW	F	-0.05%
EXPE	B	-0.05%
EQR	B	-0.05%
CPAY	A	-0.05%
GDDY	A	-0.05%
LYB	F	-0.05%
ZM	B	-0.05%
HAL	C	-0.05%
STT	A	-0.05%
WAT	B	-0.05%
CHD	B	-0.05%
FTV	C	-0.05%
KEYS	A	-0.05%
TW	A	-0.05%
PHM	D	-0.05%
EFX	F	-0.05%
HPE	B	-0.05%
ON	D	-0.05%
DOV	A	-0.05%
GPN	B	-0.05%
IOT	A	-0.05%
DXCM	D	-0.05%
CSGP	D	-0.05%
GOLD	D	-0.05%
TSCO	D	-0.05%
ZS	C	-0.05%
ARES	A	-0.05%
IDXX	F	-0.05%
CAH	B	-0.05%
HUM	C	-0.05%
HEI	B	-0.05%
BBY	D	-0.04%
STLD	B	-0.04%
VRSN	F	-0.04%
BALL	D	-0.04%
CFG	B	-0.04%
J	F	-0.04%
WDC	D	-0.04%
INVH	D	-0.04%
AER	B	-0.04%
PTC	A	-0.04%
FOX	A	-0.04%
MPWR	F	-0.04%
ATO	A	-0.04%
MDB	C	-0.04%
STX	D	-0.04%
FSLR	F	-0.04%
CINF	A	-0.04%
MKC	D	-0.04%
AXON	A	-0.04%
MOH	F	-0.04%
TYL	B	-0.04%
WY	D	-0.04%
NTRS	A	-0.04%
GFS	C	-0.04%
EL	F	-0.04%
STM	F	-0.04%
ZBH	C	-0.04%
AWK	D	-0.04%
STE	F	-0.04%
PHG	D	-0.04%
LDOS	C	-0.04%
WST	C	-0.04%
CQP	B	-0.04%
WBD	C	-0.04%
ANSS	B	-0.04%
BR	A	-0.04%
HUBS	A	-0.04%
VTR	C	-0.04%
ROL	B	-0.04%
DKS	C	-0.03%
MRNA	F	-0.03%
AVY	D	-0.03%
ICLR	D	-0.03%
AVTR	F	-0.03%
ERIE	D	-0.03%
ALGN	D	-0.03%
CSL	C	-0.03%
DG	F	-0.03%
MAA	B	-0.03%
MAS	D	-0.03%
TDY	B	-0.03%
CVNA	B	-0.03%
CRBG	B	-0.03%
GPC	D	-0.03%
FDS	B	-0.03%
L	A	-0.03%
DRI	B	-0.03%
WLK	D	-0.03%
OMC	C	-0.03%
WSO	A	-0.03%
PINS	D	-0.03%
TER	D	-0.03%
CHKP	D	-0.03%
CTRA	B	-0.03%
DKNG	B	-0.03%
MT	B	-0.03%
CNP	B	-0.03%
ARE	D	-0.03%
HOLX	D	-0.03%
BLDR	D	-0.03%
PKG	A	-0.02%
YUMC	C	-0.02%
WRB	A	-0.02%
SNAP	C	-0.02%
KEY	B	-0.02%
EQT	B	-0.02%
JBL	B	-0.02%
CHWY	B	-0.02%
PODD	C	-0.02%
WSM	B	-0.02%
BURL	A	-0.02%
IP	B	-0.02%
ESS	B	-0.02%
RS	B	-0.02%
LPLA	A	-0.02%
DLTR	F	-0.02%
SW	A	-0.02%
SMCI	F	-0.02%
EG	C	-0.02%
SUI	D	-0.02%
AMCR	D	-0.02%
ULTA	F	-0.02%
HOOD	B	-0.02%
CELH	F	-0.01%
IEP	F	-0.01%
ETSY	D	-0.01%
FMC	D	-0.01%
U	C	-0.01%
ENPH	F	-0.01%
AAL	B	-0.01%
SIRI	C	-0.01%
RIVN	F	-0.01%
CE	F	-0.01%
MGM	D	-0.01%
EXAS	D	-0.01%
RPRX	D	-0.01%
OKTA	C	-0.01%
LKQ	D	-0.01%
LW	C	-0.01%
WPC	D	-0.01%
SWKS	F	-0.01%
AKAM	D	-0.01%
AGR	B	-0.01%
CAG	D	-0.01%
BSY	D	-0.01%
BMRN	D	-0.01%
TRMB	B	-0.01%
DT	C	-0.01%
PAYC	B	-0.01%
IEX	B	-0.01%
MRO	B	-0.01%
RVTY	F	-0.01%
INCY	C	-0.01%
WMG	C	-0.01%
FTRE	D	-0.0%
LCID	F	-0.0%