NACP vs. DYNF ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to BlackRock U.S. Equity Factor Rotation ETF (DYNF)

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

$40.65

Average Daily Volume

2,485

Number of Holdings ^*

196

* may have additional holdings in another (foreign) market

DYNF

BlackRock U.S. Equity Factor Rotation ETF

DYNF Description

The investment seeks to outperform the investment results of the large- and mid-capitalization U.S. equity markets by providing diversified and tactical exposure to style factors via a factor rotation model. The fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets plus the amount of any borrowings for investment purposes in U.S. listed common stock of large- and mid-capitalization companies selected based on a proprietary Factor Rotation model developed by BFA and its affiliates. It is non-diversified.

Grade (RS Rating)

Last Trade

$49.11

Average Daily Volume

1,158,818

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	NACP	DYNF
30 Days	2.07%	2.39%
60 Days	3.38%	4.33%
90 Days	3.52%	5.07%
12 Months	30.45%	38.83%

38 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in DYNF	Overlap
AAPL	C	5.03%	6.98%	5.03%
AMZN	C	4.47%	4.32%	4.32%
AXP	B	0.56%	0.44%	0.44%
BAC	D	0.99%	2.81%	0.99%
C	C	0.45%	0.43%	0.43%
CMI	C	0.15%	0.01%	0.01%
CVX	D	1.04%	0.27%	0.27%
DE	B	0.36%	0.0%	0.0%
DELL	D	0.54%	0.01%	0.01%
DUK	C	0.32%	1.51%	0.32%
EBAY	B	0.11%	0.0%	0.0%
ETN	C	0.44%	0.26%	0.26%
GE	B	0.69%	0.75%	0.69%
GM	C	0.18%	0.66%	0.18%
GOOG	D	2.16%	1.35%	1.35%
GOOGL	D	2.41%	2.79%	2.41%
INTC	F	1.52%	0.0%	0.0%
JPM	D	2.39%	3.59%	2.39%
KHC	C	0.12%	0.01%	0.01%
MA	B	1.4%	1.7%	1.4%
MET	B	0.17%	0.01%	0.01%
META	B	3.63%	3.67%	3.63%
MLM	D	0.12%	0.01%	0.01%
MPC	F	0.23%	0.61%	0.23%
MRK	D	1.03%	0.01%	0.01%
MSFT	C	4.63%	7.68%	4.63%
NVDA	D	4.9%	8.36%	4.9%
PANW	D	1.81%	1.05%	1.05%
PSX	F	0.22%	0.0%	0.0%
QCOM	D	3.18%	0.02%	0.02%
SO	B	0.35%	0.01%	0.01%
TRV	C	0.18%	1.24%	0.18%
TT	B	0.29%	1.01%	0.29%
UNH	C	1.95%	2.55%	1.95%
V	C	1.53%	3.86%	1.53%
VLO	F	0.17%	0.01%	0.01%
WMT	C	0.73%	1.52%	0.73%
XOM	C	2.0%	3.67%	2.0%

NACP Overweight 158 Positions Relative to DYNF

Symbol	Grade	Weight
ACN	C	3.58%
IBM	B	3.08%
UBER	C	2.29%
VZ	B	2.26%
TSLA	C	2.22%
MU	F	1.75%
JNJ	C	1.44%
ABBV	C	1.22%
KO	C	0.99%
PEP	C	0.92%
TMO	B	0.83%
ABT	C	0.69%
NEE	C	0.66%
DHR	B	0.64%
HPQ	D	0.62%
PFE	C	0.62%
UNP	C	0.56%
SPGI	B	0.55%
LOW	B	0.51%
COP	D	0.49%
ELV	C	0.47%
MS	D	0.47%
HON	D	0.46%
EA	D	0.45%
T	C	0.45%
MDT	C	0.42%
PLD	C	0.42%
BSX	B	0.41%
ADP	B	0.4%
BA	F	0.38%
MELI	B	0.38%
CI	C	0.37%
MDLZ	B	0.36%
NKE	D	0.36%
BMY	C	0.35%
UPS	D	0.35%
GILD	B	0.35%
SCHW	D	0.33%
EQIX	C	0.29%
NOC	B	0.29%
PNC	B	0.27%
CVS	D	0.27%
PYPL	B	0.27%
ITW	C	0.27%
MMM	B	0.26%
MCO	B	0.26%
FDX	C	0.25%
FCX	D	0.25%
AON	B	0.24%
CSX	D	0.24%
BDX	D	0.23%
TFC	C	0.22%
NEM	B	0.22%
EMR	D	0.22%
ECL	B	0.21%
NSC	C	0.2%
WMB	B	0.19%
AEP	C	0.19%
MAR	C	0.19%
OKE	B	0.18%
SRE	C	0.18%
CCI	C	0.18%
D	C	0.18%
URI	B	0.18%
BK	B	0.17%
JCI	B	0.17%
HLT	B	0.17%
LNG	C	0.16%
IPG	C	0.16%
LHX	C	0.16%
KMI	B	0.15%
HES	F	0.15%
EXC	C	0.15%
EW	F	0.15%
F	F	0.15%
DD	B	0.14%
PEG	B	0.14%
A	C	0.14%
HWM	B	0.14%
OTIS	C	0.13%
KR	C	0.13%
AME	C	0.13%
VRSK	D	0.13%
VMC	D	0.12%
IR	C	0.12%
XEL	B	0.12%
ED	C	0.12%
RCL	B	0.12%
AVB	B	0.11%
ROK	D	0.11%
VST	C	0.11%
EIX	C	0.11%
ADM	D	0.11%
RMD	C	0.11%
XYL	C	0.11%
HSY	C	0.1%
DVN	F	0.1%
WEC	C	0.1%
PPG	D	0.1%
BIIB	F	0.1%
PCG	C	0.09%
TROW	D	0.09%
IFF	B	0.09%
DAL	C	0.09%
SYF	C	0.08%
APTV	D	0.08%
SBAC	C	0.08%
PPL	C	0.08%
FE	C	0.08%
ETR	B	0.08%
NDAQ	A	0.08%
DTE	C	0.08%
ES	C	0.08%
NRG	C	0.07%
LII	B	0.07%
EXPD	C	0.07%
CMS	C	0.07%
TSN	C	0.07%
CLX	C	0.07%
BAH	C	0.07%
BAX	C	0.07%
K	B	0.07%
ILMN	C	0.07%
HBAN	B	0.07%
RF	B	0.07%
SWK	B	0.06%
LUV	C	0.06%
DOC	C	0.06%
DGX	B	0.06%
HUBB	B	0.06%
TXT	D	0.06%
SJM	C	0.05%
AMH	C	0.05%
NI	B	0.05%
OC	D	0.05%
ACM	B	0.05%
NDSN	C	0.05%
UAL	C	0.05%
LNT	B	0.05%
AES	C	0.05%
JBHT	D	0.05%
BG	D	0.05%
CF	C	0.05%
CPB	C	0.04%
REG	C	0.04%
LECO	F	0.04%
TFX	C	0.04%
ALB	D	0.04%
EMN	B	0.04%
USFD	B	0.04%
WBA	F	0.03%
BWA	D	0.03%
SCCO	D	0.03%
PFG	B	0.03%
MOS	F	0.03%
HRL	C	0.03%
CNH	D	0.03%
TAP	D	0.03%

NACP Underweight 56 Positions Relative to DYNF

Symbol	Grade	Weight
LEN	B	-4.21%
BRK.A	C	-3.8%
AVGO	C	-2.4%
COST	B	-2.39%
TMUS	C	-2.36%
HIG	B	-2.08%
PG	C	-1.9%
PGR	B	-1.73%
NOW	B	-1.43%
CSCO	C	-1.3%
TEL	D	-1.27%
CAT	B	-1.26%
BKNG	C	-1.25%
CRM	D	-1.11%
TJX	B	-1.07%
PCAR	D	-0.86%
NFLX	B	-0.82%
PHM	B	-0.82%
ORCL	C	-0.74%
AMAT	D	-0.62%
LIN	B	-0.6%
TRGP	B	-0.57%
ACGL	C	-0.52%
INTU	C	-0.5%
PH	B	-0.16%
WM	D	-0.16%
RTX	C	-0.16%
APH	D	-0.12%
EG	C	-0.05%
DHI	B	-0.05%
LLY	C	-0.04%
WFC	D	-0.03%
AMD	D	-0.03%
HD	B	-0.02%
CMG	C	-0.02%
GWW	B	-0.02%
ADBE	F	-0.01%
CRWD	D	-0.01%
WDAY	D	-0.01%
CPNG	B	-0.0%
M	F	-0.0%
SNOW	F	-0.0%
NU	B	-0.0%
HPE	D	-0.0%
NTNX	C	-0.0%
DIS	D	-0.0%
CFG	C	-0.0%
RSG	D	-0.0%
WTW	C	-0.0%
MO	C	-0.0%
AFL	C	-0.0%
CMCSA	D	-0.0%
MCK	F	-0.0%
ANET	B	-0.0%
DOV	B	-0.0%
MMC	C	-0.0%