NACP vs. AFLG ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to Active Factor Large Cap ETF (AFLG)

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

$41.28

Average Daily Volume

3,563

Number of Holdings ^*

196

* may have additional holdings in another (foreign) market

AFLG

Active Factor Large Cap ETF

AFLG Description

The investment seeks to provide capital appreciation. Under normal market conditions, the fund will invest at least 80% of its net assets (including investment borrowings) in U.S.-listed equity securities issued by large capitalization companies. The manager defines large capitalization companies as those that, at the time of investment, have a minimum market capitalization equal to or greater than the minimum market capitalization of a widely recognized index of large capitalization companies based upon the composition of the index at the time of investment. It is non-diversified.

Grade (RS Rating)

Last Trade

$33.90

Average Daily Volume

8,329

Number of Holdings ^*

247

* may have additional holdings in another (foreign) market

Performance

Period	NACP	AFLG
30 Days	2.87%	1.80%
60 Days	7.16%	8.31%
90 Days	2.48%	6.27%
12 Months	34.60%	39.73%

81 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in AFLG	Overlap
AAPL	C	5.03%	7.26%	5.03%
ABBV	B	1.22%	0.97%	0.97%
ACN	B	3.58%	0.23%	0.23%
ADM	F	0.11%	0.07%	0.07%
AMZN	C	4.47%	1.74%	1.74%
AVB	C	0.11%	0.05%	0.05%
AXP	B	0.56%	0.39%	0.39%
BAH	A	0.07%	0.2%	0.07%
BG	F	0.05%	0.07%	0.05%
BK	C	0.17%	0.69%	0.17%
BMY	B	0.35%	0.52%	0.35%
BSX	A	0.41%	0.65%	0.41%
BWA	C	0.03%	0.04%	0.03%
CF	A	0.05%	0.41%	0.05%
CI	D	0.37%	0.16%	0.16%
CMI	A	0.15%	0.48%	0.15%
COP	D	0.49%	0.07%	0.07%
CVS	C	0.27%	0.19%	0.19%
CVX	B	1.04%	0.41%	0.41%
DELL	C	0.54%	0.13%	0.13%
DVN	F	0.1%	0.3%	0.1%
EA	D	0.45%	0.28%	0.28%
EBAY	A	0.11%	0.11%	0.11%
ECL	B	0.21%	0.57%	0.21%
ED	A	0.12%	0.27%	0.12%
EIX	B	0.11%	0.24%	0.11%
ELV	F	0.47%	0.91%	0.47%
ETN	C	0.44%	0.53%	0.44%
FDX	F	0.25%	0.23%	0.23%
FE	C	0.08%	0.56%	0.08%
GE	C	0.69%	0.17%	0.17%
GILD	A	0.35%	0.55%	0.35%
GOOGL	B	2.41%	1.95%	1.95%
HLT	B	0.17%	0.34%	0.17%
HPQ	B	0.62%	0.51%	0.51%
HWM	A	0.14%	0.39%	0.14%
IBM	A	3.08%	0.47%	0.47%
IPG	D	0.16%	0.08%	0.08%
IR	B	0.12%	0.06%	0.06%
JNJ	D	1.44%	0.77%	0.77%
KHC	F	0.12%	0.12%	0.12%
KO	C	0.99%	0.39%	0.39%
KR	C	0.13%	0.47%	0.13%
LII	C	0.07%	0.26%	0.07%
LOW	A	0.51%	0.33%	0.33%
MA	A	1.4%	0.21%	0.21%
MCO	D	0.26%	0.05%	0.05%
MET	B	0.17%	0.04%	0.04%
META	A	3.63%	1.56%	1.56%
MMM	C	0.26%	0.62%	0.26%
MOS	F	0.03%	0.03%	0.03%
MPC	C	0.23%	0.13%	0.13%
MRK	F	1.03%	0.75%	0.75%
MSFT	D	4.63%	4.95%	4.63%
NRG	A	0.07%	0.81%	0.07%
NVDA	B	4.9%	4.8%	4.8%
OC	C	0.05%	0.34%	0.05%
PEG	A	0.14%	0.57%	0.14%
PFG	C	0.03%	0.04%	0.03%
PPG	D	0.1%	0.21%	0.1%
PPL	B	0.08%	0.05%	0.05%
PSX	D	0.22%	0.09%	0.09%
QCOM	C	3.18%	1.01%	1.01%
RF	C	0.07%	0.26%	0.07%
RMD	C	0.11%	0.1%	0.1%
SCCO	B	0.03%	0.14%	0.03%
SO	A	0.35%	0.14%	0.14%
SPGI	B	0.55%	0.09%	0.09%
SYF	B	0.08%	0.23%	0.08%
T	A	0.45%	0.18%	0.18%
TROW	D	0.09%	0.19%	0.09%
TT	A	0.29%	0.48%	0.29%
TXT	F	0.06%	0.08%	0.06%
UNH	B	1.95%	0.27%	0.27%
V	C	1.53%	0.27%	0.27%
VLO	D	0.17%	0.31%	0.17%
VST	B	0.11%	1.12%	0.11%
VZ	B	2.26%	0.54%	0.54%
WBA	F	0.03%	0.04%	0.03%
WMT	A	0.73%	0.58%	0.58%
XOM	A	2.0%	0.72%	0.72%

NACP Overweight 115 Positions Relative to AFLG

Symbol	Grade	Weight
JPM	D	2.39%
UBER	C	2.29%
TSLA	C	2.22%
GOOG	B	2.16%
PANW	D	1.81%
MU	D	1.75%
INTC	D	1.52%
BAC	D	0.99%
PEP	F	0.92%
TMO	D	0.83%
ABT	C	0.69%
NEE	A	0.66%
DHR	D	0.64%
PFE	D	0.62%
UNP	D	0.56%
MS	B	0.47%
HON	C	0.46%
C	C	0.45%
MDT	C	0.42%
PLD	D	0.42%
ADP	A	0.4%
BA	F	0.38%
MELI	D	0.38%
DE	B	0.36%
MDLZ	D	0.36%
NKE	D	0.36%
UPS	D	0.35%
SCHW	D	0.33%
DUK	B	0.32%
EQIX	C	0.29%
NOC	B	0.29%
PNC	C	0.27%
PYPL	C	0.27%
ITW	B	0.27%
FCX	B	0.25%
AON	B	0.24%
CSX	D	0.24%
BDX	C	0.23%
TFC	D	0.22%
NEM	C	0.22%
EMR	B	0.22%
NSC	D	0.2%
WMB	A	0.19%
AEP	C	0.19%
MAR	B	0.19%
OKE	A	0.18%
SRE	B	0.18%
TRV	C	0.18%
CCI	C	0.18%
D	A	0.18%
GM	D	0.18%
URI	C	0.18%
JCI	C	0.17%
LNG	A	0.16%
LHX	A	0.16%
KMI	A	0.15%
HES	C	0.15%
EXC	A	0.15%
EW	F	0.15%
F	D	0.15%
DD	C	0.14%
A	B	0.14%
OTIS	A	0.13%
AME	D	0.13%
VRSK	C	0.13%
VMC	D	0.12%
MLM	F	0.12%
XEL	B	0.12%
RCL	C	0.12%
ROK	C	0.11%
XYL	C	0.11%
HSY	F	0.1%
WEC	A	0.1%
BIIB	F	0.1%
PCG	C	0.09%
IFF	C	0.09%
DAL	C	0.09%
APTV	D	0.08%
SBAC	C	0.08%
ETR	A	0.08%
NDAQ	B	0.08%
DTE	A	0.08%
ES	D	0.08%
EXPD	D	0.07%
CMS	A	0.07%
TSN	D	0.07%
CLX	C	0.07%
BAX	D	0.07%
K	A	0.07%
ILMN	B	0.07%
HBAN	D	0.07%
SWK	C	0.06%
LUV	B	0.06%
DOC	C	0.06%
DGX	C	0.06%
HUBB	B	0.06%
SJM	D	0.05%
AMH	D	0.05%
NI	A	0.05%
ACM	A	0.05%
NDSN	C	0.05%
UAL	B	0.05%
LNT	A	0.05%
AES	C	0.05%
JBHT	D	0.05%
CPB	D	0.04%
REG	C	0.04%
LECO	F	0.04%
TFX	C	0.04%
ALB	D	0.04%
EMN	C	0.04%
USFD	C	0.04%
HRL	F	0.03%
CNH	D	0.03%
TAP	D	0.03%

NACP Underweight 166 Positions Relative to AFLG

Symbol	Grade	Weight
BRK.A	C	-1.58%
AVGO	C	-1.44%
HIG	B	-1.13%
UHS	D	-1.12%
MO	D	-0.94%
COST	C	-0.92%
PG	D	-0.89%
RL	B	-0.8%
AFL	A	-0.78%
PGR	C	-0.75%
FICO	A	-0.72%
CEG	A	-0.7%
CTAS	C	-0.69%
NTAP	D	-0.66%
CL	D	-0.66%
RS	D	-0.63%
NFLX	B	-0.6%
CAT	A	-0.6%
EME	C	-0.59%
PHM	A	-0.58%
FFIV	B	-0.57%
BBY	C	-0.56%
APH	D	-0.56%
MAS	A	-0.56%
CMCSA	C	-0.55%
SPG	A	-0.55%
APP	A	-0.53%
SNA	A	-0.53%
FOXA	A	-0.53%
CRM	B	-0.52%
LLY	D	-0.52%
MAA	D	-0.49%
AOS	B	-0.49%
GDDY	D	-0.47%
VICI	C	-0.46%
CTSH	B	-0.46%
AMAT	B	-0.43%
GLPI	A	-0.43%
CNA	D	-0.43%
TPR	C	-0.42%
STLD	B	-0.42%
ICE	A	-0.42%
NVR	B	-0.42%
MCK	F	-0.42%
CSCO	A	-0.42%
HST	D	-0.41%
CSL	A	-0.41%
TJX	D	-0.39%
NUE	C	-0.39%
HSIC	D	-0.39%
LMT	A	-0.38%
DHI	C	-0.38%
CBOE	B	-0.38%
LEN	B	-0.37%
WAB	B	-0.37%
BLDR	B	-0.37%
OGN	F	-0.37%
GRMN	D	-0.36%
PCAR	C	-0.36%
WSM	B	-0.36%
FIS	B	-0.36%
MSI	A	-0.36%
RHI	D	-0.35%
ADBE	F	-0.34%
WU	D	-0.34%
PM	D	-0.34%
CMG	C	-0.33%
PKG	B	-0.33%
ERIE	B	-0.32%
TMUS	A	-0.31%
MTCH	B	-0.31%
IP	C	-0.3%
IBKR	A	-0.3%
WELL	C	-0.3%
BRO	A	-0.29%
AIG	F	-0.28%
EVRG	C	-0.28%
TRGP	A	-0.27%
MANH	C	-0.27%
SOLV	C	-0.26%
DECK	B	-0.26%
CNC	F	-0.25%
BKNG	C	-0.25%
SWKS	F	-0.25%
ALNY	C	-0.24%
CFG	D	-0.24%
WPC	C	-0.24%
CME	A	-0.23%
VRSN	B	-0.22%
PH	B	-0.22%
VSCO	C	-0.21%
INCY	B	-0.21%
ZM	C	-0.21%
ACGL	B	-0.21%
VTR	C	-0.21%
KEYS	C	-0.21%
SHW	C	-0.2%
MRO	C	-0.2%
HUM	F	-0.19%
JBL	C	-0.19%
AZO	D	-0.19%
L	D	-0.18%
LKQ	F	-0.18%
NWSA	D	-0.18%
EXPE	B	-0.18%
ULTA	D	-0.17%
GL	C	-0.17%
GWW	B	-0.17%
BEN	F	-0.17%
TOL	A	-0.16%
CPT	C	-0.16%
EG	B	-0.16%
SYK	C	-0.15%
AIZ	B	-0.15%
BBWI	F	-0.14%
AMP	A	-0.14%
KLAC	B	-0.14%
ANET	A	-0.13%
LDOS	A	-0.13%
IT	B	-0.13%
VRT	B	-0.12%
RPM	B	-0.11%
SSNC	C	-0.1%
J	F	-0.1%
MOH	D	-0.1%
ETSY	F	-0.1%
EQR	C	-0.1%
CAH	B	-0.1%
QRVO	F	-0.09%
TEL	D	-0.09%
VTRS	D	-0.09%
CRBG	B	-0.09%
PRU	C	-0.09%
ALL	C	-0.08%
LYB	F	-0.08%
DXC	B	-0.08%
NXPI	F	-0.06%
ORLY	A	-0.06%
ROL	C	-0.06%
WSO	C	-0.06%
KMB	D	-0.06%
DINO	D	-0.06%
DKS	D	-0.05%
EPAM	F	-0.05%
ROST	D	-0.05%
SNPS	F	-0.05%
UTHR	C	-0.05%
WTW	C	-0.05%
ESS	D	-0.05%
DPZ	D	-0.05%
STT	C	-0.05%
TPL	A	-0.05%
UDR	C	-0.05%
ZION	D	-0.05%
CDNS	D	-0.05%
CVNA	A	-0.05%
DASH	B	-0.05%
PSA	C	-0.05%
CDW	D	-0.04%
PINS	C	-0.04%
HOLX	D	-0.04%
AMCR	C	-0.04%
IVZ	B	-0.04%
TDG	B	-0.01%
ALLE	A	-0.01%
EQH	C	-0.0%