NACP vs. FDMO ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to Fidelity Momentum Factor ETF (FDMO)

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

$40.97

Average Daily Volume

3,870

Number of Holdings ^*

196

* may have additional holdings in another (foreign) market

FDMO

Fidelity Momentum Factor ETF

FDMO Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Momentum Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Momentum Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies that exhibit positive momentum signals.

Grade (RS Rating)

Last Trade

$65.71

Average Daily Volume

43,005

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

Performance

Period	NACP	FDMO
30 Days	1.57%	1.77%
60 Days	7.22%	9.00%
90 Days	2.89%	2.12%
12 Months	35.44%	44.40%

43 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in FDMO	Overlap
ABBV	A	1.22%	1.32%	1.22%
AEP	C	0.19%	0.25%	0.19%
AMZN	C	4.47%	3.69%	3.69%
AVB	C	0.11%	0.19%	0.11%
AXP	A	0.56%	0.75%	0.56%
BAC	D	0.99%	0.96%	0.96%
BSX	A	0.41%	0.97%	0.41%
C	B	0.45%	0.65%	0.45%
DELL	C	0.54%	1.28%	0.54%
DUK	A	0.32%	0.32%	0.32%
ECL	B	0.21%	0.25%	0.21%
ELV	F	0.47%	0.91%	0.47%
EQIX	B	0.29%	0.28%	0.28%
ETN	C	0.44%	0.64%	0.44%
FCX	B	0.25%	0.25%	0.25%
GE	C	0.69%	0.77%	0.69%
GOOGL	B	2.41%	3.48%	2.41%
HLT	A	0.17%	0.57%	0.17%
IFF	C	0.09%	0.18%	0.09%
JPM	D	2.39%	1.56%	1.56%
KO	C	0.99%	0.75%	0.75%
META	A	3.63%	2.54%	2.54%
MLM	D	0.12%	0.18%	0.12%
MPC	F	0.23%	0.32%	0.23%
MRK	F	1.03%	1.24%	1.03%
MSFT	D	4.63%	7.28%	4.63%
MU	D	1.75%	1.17%	1.17%
NEE	A	0.66%	0.48%	0.48%
NRG	A	0.07%	0.2%	0.07%
NVDA	C	4.9%	6.63%	4.9%
OKE	B	0.18%	0.35%	0.18%
PEG	A	0.14%	0.24%	0.14%
PSX	D	0.22%	0.31%	0.22%
SO	A	0.35%	0.34%	0.34%
T	A	0.45%	0.53%	0.45%
TT	A	0.29%	0.57%	0.29%
UBER	C	2.29%	0.73%	0.73%
V	C	1.53%	1.3%	1.3%
VST	A	0.11%	0.24%	0.11%
VZ	A	2.26%	0.58%	0.58%
WMB	A	0.19%	0.33%	0.19%
WMT	A	0.73%	0.88%	0.73%
XOM	A	2.0%	1.19%	1.19%

NACP Overweight 153 Positions Relative to FDMO

Symbol	Grade	Weight
AAPL	C	5.03%
ACN	B	3.58%
QCOM	D	3.18%
IBM	B	3.08%
TSLA	C	2.22%
GOOG	B	2.16%
UNH	B	1.95%
PANW	D	1.81%
INTC	D	1.52%
JNJ	D	1.44%
MA	A	1.4%
CVX	B	1.04%
PEP	D	0.92%
TMO	C	0.83%
ABT	B	0.69%
DHR	C	0.64%
HPQ	C	0.62%
PFE	D	0.62%
UNP	D	0.56%
SPGI	C	0.55%
LOW	A	0.51%
COP	D	0.49%
MS	B	0.47%
HON	C	0.46%
EA	D	0.45%
MDT	B	0.42%
PLD	D	0.42%
ADP	A	0.4%
BA	F	0.38%
MELI	C	0.38%
CI	D	0.37%
DE	A	0.36%
MDLZ	C	0.36%
NKE	D	0.36%
BMY	B	0.35%
UPS	D	0.35%
GILD	A	0.35%
SCHW	D	0.33%
NOC	B	0.29%
PNC	C	0.27%
CVS	D	0.27%
PYPL	C	0.27%
ITW	A	0.27%
MMM	C	0.26%
MCO	D	0.26%
FDX	D	0.25%
AON	A	0.24%
CSX	D	0.24%
BDX	B	0.23%
TFC	D	0.22%
NEM	C	0.22%
EMR	B	0.22%
NSC	C	0.2%
MAR	B	0.19%
SRE	A	0.18%
TRV	C	0.18%
CCI	C	0.18%
D	A	0.18%
GM	D	0.18%
URI	C	0.18%
MET	A	0.17%
BK	C	0.17%
VLO	F	0.17%
JCI	B	0.17%
LNG	A	0.16%
IPG	C	0.16%
LHX	A	0.16%
KMI	A	0.15%
HES	D	0.15%
EXC	A	0.15%
CMI	B	0.15%
EW	F	0.15%
F	D	0.15%
DD	B	0.14%
A	B	0.14%
HWM	A	0.14%
OTIS	A	0.13%
KR	C	0.13%
AME	D	0.13%
VRSK	D	0.13%
VMC	D	0.12%
IR	A	0.12%
XEL	A	0.12%
ED	A	0.12%
KHC	D	0.12%
RCL	C	0.12%
ROK	D	0.11%
EBAY	A	0.11%
EIX	A	0.11%
ADM	D	0.11%
RMD	C	0.11%
XYL	C	0.11%
HSY	D	0.1%
DVN	F	0.1%
WEC	A	0.1%
PPG	D	0.1%
BIIB	F	0.1%
PCG	B	0.09%
TROW	D	0.09%
DAL	C	0.09%
SYF	B	0.08%
APTV	D	0.08%
SBAC	B	0.08%
PPL	A	0.08%
FE	B	0.08%
ETR	A	0.08%
NDAQ	C	0.08%
DTE	A	0.08%
ES	C	0.08%
LII	C	0.07%
EXPD	C	0.07%
CMS	A	0.07%
TSN	D	0.07%
CLX	B	0.07%
BAH	A	0.07%
BAX	D	0.07%
K	B	0.07%
ILMN	B	0.07%
HBAN	D	0.07%
RF	C	0.07%
SWK	A	0.06%
LUV	B	0.06%
DOC	C	0.06%
DGX	B	0.06%
HUBB	A	0.06%
TXT	F	0.06%
SJM	C	0.05%
AMH	D	0.05%
NI	A	0.05%
OC	C	0.05%
ACM	C	0.05%
NDSN	B	0.05%
UAL	B	0.05%
LNT	A	0.05%
AES	B	0.05%
JBHT	D	0.05%
BG	F	0.05%
CF	A	0.05%
CPB	D	0.04%
REG	C	0.04%
LECO	D	0.04%
TFX	C	0.04%
ALB	D	0.04%
EMN	C	0.04%
USFD	C	0.04%
WBA	F	0.03%
BWA	B	0.03%
SCCO	B	0.03%
PFG	C	0.03%
MOS	D	0.03%
HRL	F	0.03%
CNH	B	0.03%
TAP	D	0.03%

NACP Underweight 80 Positions Relative to FDMO

Symbol	Grade	Weight
AVGO	C	-2.64%
LLY	D	-2.1%
BRK.A	C	-2.01%
APP	A	-1.89%
CRWD	D	-1.51%
ANET	A	-1.44%
AMAT	B	-1.43%
KLAC	B	-1.34%
APH	D	-1.33%
GDDY	D	-1.31%
HD	A	-1.19%
ISRG	A	-1.05%
AMGN	D	-1.01%
COST	C	-1.0%
PG	C	-0.99%
REGN	D	-0.93%
NTRA	A	-0.85%
NFLX	A	-0.81%
THC	C	-0.79%
WFC	D	-0.78%
PGR	C	-0.78%
SMCI	F	-0.77%
CAT	A	-0.74%
GS	C	-0.73%
BKNG	C	-0.72%
TJX	C	-0.69%
CB	A	-0.67%
RTX	A	-0.66%
MCK	F	-0.66%
KKR	A	-0.64%
CMG	C	-0.61%
PM	C	-0.58%
LIN	B	-0.55%
ALL	B	-0.55%
CVNA	A	-0.53%
TDG	A	-0.53%
WING	B	-0.51%
CTAS	B	-0.51%
HIG	A	-0.51%
GD	A	-0.5%
HOOD	C	-0.5%
VRT	B	-0.5%
WM	B	-0.49%
WSM	B	-0.48%
JXN	A	-0.47%
DECK	B	-0.47%
EME	C	-0.46%
WAB	A	-0.46%
RSG	D	-0.44%
FIX	A	-0.44%
TMUS	A	-0.43%
ANF	F	-0.43%
LDOS	A	-0.42%
CSL	A	-0.42%
CL	D	-0.39%
COIN	F	-0.39%
AMT	C	-0.33%
TRGP	B	-0.31%
SHW	B	-0.3%
CEG	B	-0.3%
WELL	C	-0.28%
FRPT	C	-0.27%
SFM	A	-0.26%
FANG	D	-0.26%
PSA	C	-0.25%
SPG	A	-0.24%
CASY	D	-0.24%
FTI	B	-0.22%
DLR	C	-0.22%
EXR	C	-0.21%
WFRD	F	-0.2%
IRM	A	-0.19%
PKG	C	-0.17%
ELF	F	-0.17%
ESS	C	-0.17%
LAMR	C	-0.16%
STLD	B	-0.15%
AVY	C	-0.15%
SLG	C	-0.14%
CRS	C	-0.14%