NACP vs. DBND ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to DoubleLine Opportunistic Bond ETF (DBND)

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

$40.95

Average Daily Volume

3,563

Number of Holdings ^*

196

* may have additional holdings in another (foreign) market

DBND

DoubleLine Opportunistic Bond ETF

DBND Description

Under normal circumstances, the Advisor intends to invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in fixed income instruments or other investments with economic characteristics similar to fixed income instruments. It may invest in fixed income instruments of any credit quality, including those that are at the time of investment unrated or rated BB+ or lower by S&P or Ba1 or lower by Moody?s or the equivalent by any other nationally recognized statistical rating organization. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$47.01

Average Daily Volume

42,385

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	NACP	DBND
30 Days	2.87%	1.11%
60 Days	7.16%	1.08%
90 Days	2.48%	4.23%
12 Months	34.60%	12.84%

17 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in DBND	Overlap
ABBV	A	1.22%	0.61%	0.61%
BA	F	0.38%	0.35%	0.35%
BAC	D	0.99%	0.56%	0.56%
CCI	C	0.18%	0.38%	0.18%
CVS	C	0.27%	0.42%	0.27%
EXC	A	0.15%	0.09%	0.09%
GM	D	0.18%	0.34%	0.18%
JPM	D	2.39%	0.62%	0.62%
KMI	A	0.15%	0.35%	0.15%
MAR	B	0.19%	0.38%	0.19%
NRG	A	0.07%	0.17%	0.07%
OC	C	0.05%	0.37%	0.05%
PCG	C	0.09%	0.18%	0.09%
SO	A	0.35%	0.36%	0.35%
T	A	0.45%	0.48%	0.45%
UAL	B	0.05%	0.18%	0.05%
UBER	C	2.29%	0.16%	0.16%

NACP Overweight 179 Positions Relative to DBND

Symbol	Grade	Weight
AAPL	C	5.03%
NVDA	B	4.9%
MSFT	D	4.63%
AMZN	C	4.47%
META	A	3.63%
ACN	B	3.58%
QCOM	C	3.18%
IBM	A	3.08%
GOOGL	B	2.41%
VZ	B	2.26%
TSLA	C	2.22%
GOOG	B	2.16%
XOM	A	2.0%
UNH	B	1.95%
PANW	D	1.81%
MU	D	1.75%
V	C	1.53%
INTC	D	1.52%
JNJ	D	1.44%
MA	A	1.4%
CVX	B	1.04%
MRK	F	1.03%
KO	C	0.99%
PEP	F	0.92%
TMO	D	0.83%
WMT	A	0.73%
ABT	C	0.69%
GE	C	0.69%
NEE	A	0.66%
DHR	D	0.64%
HPQ	C	0.62%
PFE	D	0.62%
AXP	B	0.56%
UNP	D	0.56%
SPGI	B	0.55%
DELL	C	0.54%
LOW	A	0.51%
COP	D	0.49%
ELV	F	0.47%
MS	B	0.47%
HON	C	0.46%
C	C	0.45%
EA	D	0.45%
ETN	C	0.44%
MDT	C	0.42%
PLD	D	0.42%
BSX	A	0.41%
ADP	A	0.4%
MELI	D	0.38%
CI	D	0.37%
DE	B	0.36%
MDLZ	D	0.36%
NKE	D	0.36%
BMY	B	0.35%
UPS	D	0.35%
GILD	A	0.35%
SCHW	D	0.33%
DUK	B	0.32%
EQIX	C	0.29%
TT	A	0.29%
NOC	B	0.29%
PNC	C	0.27%
PYPL	C	0.27%
ITW	B	0.27%
MMM	C	0.26%
MCO	D	0.26%
FDX	D	0.25%
FCX	B	0.25%
AON	B	0.24%
CSX	D	0.24%
MPC	C	0.23%
BDX	C	0.23%
PSX	D	0.22%
TFC	D	0.22%
NEM	C	0.22%
EMR	B	0.22%
ECL	B	0.21%
NSC	D	0.2%
WMB	A	0.19%
AEP	C	0.19%
OKE	A	0.18%
SRE	B	0.18%
TRV	C	0.18%
D	A	0.18%
URI	C	0.18%
MET	B	0.17%
BK	C	0.17%
VLO	F	0.17%
JCI	C	0.17%
HLT	B	0.17%
LNG	A	0.16%
IPG	D	0.16%
LHX	A	0.16%
HES	C	0.15%
CMI	A	0.15%
EW	F	0.15%
F	D	0.15%
DD	C	0.14%
PEG	A	0.14%
A	B	0.14%
HWM	A	0.14%
OTIS	A	0.13%
KR	C	0.13%
AME	D	0.13%
VRSK	C	0.13%
VMC	D	0.12%
IR	B	0.12%
MLM	F	0.12%
XEL	B	0.12%
ED	A	0.12%
KHC	F	0.12%
RCL	C	0.12%
AVB	C	0.11%
ROK	C	0.11%
EBAY	A	0.11%
VST	B	0.11%
EIX	B	0.11%
ADM	F	0.11%
RMD	C	0.11%
XYL	C	0.11%
HSY	F	0.1%
DVN	F	0.1%
WEC	A	0.1%
PPG	D	0.1%
BIIB	F	0.1%
TROW	D	0.09%
IFF	C	0.09%
DAL	C	0.09%
SYF	B	0.08%
APTV	D	0.08%
SBAC	C	0.08%
PPL	B	0.08%
FE	C	0.08%
ETR	A	0.08%
NDAQ	B	0.08%
DTE	A	0.08%
ES	D	0.08%
LII	C	0.07%
EXPD	D	0.07%
CMS	A	0.07%
TSN	D	0.07%
CLX	C	0.07%
BAH	A	0.07%
BAX	D	0.07%
K	A	0.07%
ILMN	B	0.07%
HBAN	D	0.07%
RF	C	0.07%
SWK	C	0.06%
LUV	B	0.06%
DOC	C	0.06%
DGX	C	0.06%
HUBB	B	0.06%
TXT	F	0.06%
SJM	D	0.05%
AMH	D	0.05%
NI	A	0.05%
ACM	A	0.05%
NDSN	C	0.05%
LNT	A	0.05%
AES	C	0.05%
JBHT	D	0.05%
BG	F	0.05%
CF	A	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%
WBA	F	0.03%
BWA	C	0.03%
SCCO	B	0.03%
PFG	C	0.03%
MOS	F	0.03%
HRL	F	0.03%
CNH	D	0.03%
TAP	D	0.03%

NACP Underweight 36 Positions Relative to DBND

Symbol	Grade	Weight
UPST	C	-1.79%
COMM	C	-0.77%
BNS	C	-0.68%
GS	D	-0.66%
DLTR	F	-0.59%
DFS	C	-0.49%
BMO	B	-0.38%
CMCSA	C	-0.38%
NTAP	D	-0.37%
ARCC	A	-0.35%
MO	D	-0.34%
DKS	D	-0.34%
SYY	C	-0.33%
RPRX	D	-0.32%
EXPE	B	-0.3%
ORCL	C	-0.3%
WTW	C	-0.29%
HCA	C	-0.29%
CCL	C	-0.26%
AAL	D	-0.19%
COTY	F	-0.19%
PENN	D	-0.19%
PFGC	A	-0.19%
POST	D	-0.18%
PK	D	-0.18%
GFF	C	-0.18%
MODV	F	-0.18%
SPH	C	-0.18%
VSCO	C	-0.17%
CHTR	D	-0.17%
CACC	F	-0.16%
BALY	A	-0.16%
SSP	D	-0.16%
OMI	F	-0.16%
OMF	F	-0.16%
GPOR	B	-0.16%