NACP vs. FLQL ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to Franklin LibertyQ U.S. Equity ETF (FLQL)

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

FLQL

Franklin LibertyQ U.S. Equity ETF

FLQL Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the LibertyQ U.S. Large Cap Equity Index (the U.S. Large Cap underlying index). Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the U.S. Large Cap underlying index. The U.S. Large Cap underlying index is based on the Russell 1000® Index using a methodology developed with Franklin Templeton to reflect Franklin Templeton's desired investment strategy.

Grade (RS Rating)

Last Trade

$59.85

Average Daily Volume

76,630

Number of Holdings ^*

210

* may have additional holdings in another (foreign) market

Performance

Period	NACP	FLQL
30 Days	2.08%	2.44%
60 Days	4.48%	3.55%
90 Days	6.57%	4.50%
12 Months	32.92%	31.26%

51 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in FLQL	Overlap
AAPL	C	5.03%	7.0%	5.03%
ABBV	D	1.22%	1.33%	1.22%
AMZN	C	4.47%	2.92%	2.92%
AVB	B	0.11%	0.1%	0.1%
BSX	B	0.41%	0.84%	0.41%
C	A	0.45%	0.97%	0.45%
CF	B	0.05%	0.11%	0.05%
CI	F	0.37%	0.56%	0.37%
CMI	A	0.15%	0.26%	0.15%
DAL	C	0.09%	0.2%	0.09%
DELL	C	0.54%	0.19%	0.19%
DGX	A	0.06%	0.1%	0.06%
DVN	F	0.1%	0.08%	0.08%
EBAY	D	0.11%	0.17%	0.11%
ELV	F	0.47%	0.28%	0.28%
EMN	D	0.04%	0.1%	0.04%
ETR	B	0.08%	0.16%	0.08%
GM	B	0.18%	0.35%	0.18%
GOOG	C	2.16%	1.73%	1.73%
GOOGL	C	2.41%	2.04%	2.04%
HLT	A	0.17%	0.33%	0.17%
HPQ	B	0.62%	0.29%	0.29%
HWM	A	0.14%	0.25%	0.14%
IBM	C	3.08%	1.31%	1.31%
JNJ	D	1.44%	1.55%	1.44%
JPM	A	2.39%	1.23%	1.23%
K	A	0.07%	0.1%	0.07%
LII	A	0.07%	0.15%	0.07%
MA	C	1.4%	1.79%	1.4%
MCO	B	0.26%	0.56%	0.26%
META	D	3.63%	2.48%	2.48%
MRK	F	1.03%	1.21%	1.03%
MSFT	F	4.63%	5.96%	4.63%
NRG	B	0.07%	0.12%	0.07%
NVDA	C	4.9%	6.71%	4.9%
OC	A	0.05%	0.13%	0.05%
PEG	A	0.14%	0.22%	0.14%
QCOM	F	3.18%	1.22%	1.22%
RCL	A	0.12%	0.17%	0.12%
RMD	C	0.11%	0.13%	0.11%
SCCO	F	0.03%	0.1%	0.03%
SO	D	0.35%	0.29%	0.29%
SYF	B	0.08%	0.21%	0.08%
T	A	0.45%	1.07%	0.45%
TSLA	B	2.22%	1.13%	1.13%
TT	A	0.29%	0.65%	0.29%
UNH	C	1.95%	0.52%	0.52%
URI	B	0.18%	0.38%	0.18%
VZ	C	2.26%	1.24%	1.24%
WMT	A	0.73%	1.68%	0.73%
XOM	B	2.0%	0.63%	0.63%

NACP Overweight 146 Positions Relative to FLQL

Symbol	Grade	Weight
ACN	C	3.58%
UBER	D	2.29%
PANW	C	1.81%
MU	D	1.75%
V	A	1.53%
INTC	D	1.52%
CVX	A	1.04%
KO	D	0.99%
BAC	A	0.99%
PEP	F	0.92%
TMO	F	0.83%
ABT	B	0.69%
GE	D	0.69%
NEE	D	0.66%
DHR	F	0.64%
PFE	D	0.62%
AXP	A	0.56%
UNP	C	0.56%
SPGI	C	0.55%
LOW	D	0.51%
COP	C	0.49%
MS	A	0.47%
HON	B	0.46%
EA	A	0.45%
ETN	A	0.44%
MDT	D	0.42%
PLD	D	0.42%
ADP	B	0.4%
BA	F	0.38%
MELI	D	0.38%
DE	A	0.36%
MDLZ	F	0.36%
NKE	D	0.36%
BMY	B	0.35%
UPS	C	0.35%
GILD	C	0.35%
SCHW	B	0.33%
DUK	C	0.32%
EQIX	A	0.29%
NOC	D	0.29%
PNC	B	0.27%
CVS	D	0.27%
PYPL	B	0.27%
ITW	B	0.27%
MMM	D	0.26%
FDX	B	0.25%
FCX	D	0.25%
AON	A	0.24%
CSX	B	0.24%
MPC	D	0.23%
BDX	F	0.23%
PSX	C	0.22%
TFC	A	0.22%
NEM	D	0.22%
EMR	A	0.22%
ECL	D	0.21%
NSC	B	0.2%
WMB	A	0.19%
AEP	D	0.19%
MAR	B	0.19%
OKE	A	0.18%
SRE	A	0.18%
TRV	B	0.18%
CCI	D	0.18%
D	C	0.18%
MET	A	0.17%
BK	A	0.17%
VLO	C	0.17%
JCI	C	0.17%
LNG	B	0.16%
IPG	D	0.16%
LHX	C	0.16%
KMI	A	0.15%
HES	B	0.15%
EXC	C	0.15%
EW	C	0.15%
F	C	0.15%
DD	D	0.14%
A	D	0.14%
OTIS	C	0.13%
KR	B	0.13%
AME	A	0.13%
VRSK	A	0.13%
VMC	B	0.12%
IR	B	0.12%
MLM	B	0.12%
XEL	A	0.12%
ED	D	0.12%
KHC	F	0.12%
ROK	B	0.11%
VST	B	0.11%
EIX	B	0.11%
ADM	D	0.11%
XYL	D	0.11%
HSY	F	0.1%
WEC	A	0.1%
PPG	F	0.1%
BIIB	F	0.1%
PCG	A	0.09%
TROW	B	0.09%
IFF	D	0.09%
APTV	D	0.08%
SBAC	D	0.08%
PPL	B	0.08%
FE	C	0.08%
NDAQ	A	0.08%
DTE	C	0.08%
ES	D	0.08%
EXPD	D	0.07%
CMS	C	0.07%
TSN	B	0.07%
CLX	B	0.07%
BAH	F	0.07%
BAX	D	0.07%
LH	C	0.07%
ILMN	D	0.07%
HBAN	A	0.07%
RF	A	0.07%
SWK	D	0.06%
LUV	C	0.06%
DOC	D	0.06%
HUBB	B	0.06%
TXT	D	0.06%
SJM	D	0.05%
AMH	D	0.05%
NI	A	0.05%
ACM	A	0.05%
NDSN	B	0.05%
UAL	A	0.05%
LNT	A	0.05%
AES	F	0.05%
JBHT	C	0.05%
BG	F	0.05%
CPB	D	0.04%
REG	B	0.04%
LECO	B	0.04%
TFX	F	0.04%
ALB	C	0.04%
USFD	A	0.04%
WBA	F	0.03%
BWA	D	0.03%
PFG	D	0.03%
MOS	F	0.03%
HRL	D	0.03%
CNH	C	0.03%
TAP	C	0.03%

NACP Underweight 159 Positions Relative to FLQL

Symbol	Grade	Weight
AVGO	D	-1.77%
COST	B	-1.7%
LLY	F	-1.31%
ISRG	A	-1.3%
CAT	B	-1.27%
TXN	C	-1.24%
BKNG	A	-1.19%
BRK.A	B	-1.11%
AMGN	D	-1.05%
AMAT	F	-0.96%
TJX	A	-0.95%
SYK	C	-0.94%
VRTX	F	-0.92%
ORCL	B	-0.88%
MO	A	-0.85%
ANET	C	-0.77%
PM	B	-0.71%
WM	A	-0.67%
KLAC	D	-0.67%
LRCX	F	-0.66%
GS	A	-0.6%
APH	A	-0.6%
TMUS	B	-0.59%
REGN	F	-0.59%
MSI	B	-0.58%
CMG	B	-0.57%
CB	C	-0.56%
PH	A	-0.52%
CL	D	-0.52%
RTX	C	-0.5%
HCA	F	-0.49%
SPG	B	-0.46%
CTAS	B	-0.46%
PCAR	B	-0.44%
APP	B	-0.42%
LMT	D	-0.4%
GD	F	-0.39%
GWW	B	-0.38%
PSA	D	-0.38%
DHI	D	-0.36%
FAST	B	-0.33%
ADI	D	-0.32%
RSG	A	-0.31%
LEN	D	-0.3%
ACGL	D	-0.26%
GRMN	B	-0.25%
CTSH	B	-0.24%
MCHP	D	-0.23%
AFL	B	-0.23%
SPOT	B	-0.22%
PHM	D	-0.22%
DECK	A	-0.22%
HPE	B	-0.21%
NTAP	C	-0.21%
FANG	D	-0.2%
HIG	B	-0.19%
GLW	B	-0.19%
NVR	D	-0.19%
IRM	D	-0.18%
LDOS	C	-0.17%
FICO	B	-0.17%
WAB	B	-0.17%
LYB	F	-0.16%
TPL	A	-0.16%
STLD	B	-0.16%
PKG	A	-0.15%
CSL	C	-0.15%
TSCO	D	-0.15%
O	D	-0.15%
WSM	B	-0.15%
KMB	D	-0.14%
WSO	A	-0.13%
TOL	B	-0.13%
CFG	B	-0.13%
IP	B	-0.13%
TNL	A	-0.12%
EME	C	-0.12%
AWI	A	-0.12%
RL	B	-0.12%
JEF	A	-0.12%
MAS	D	-0.12%
AYI	B	-0.12%
EVR	B	-0.12%
UTHR	C	-0.12%
FIX	A	-0.12%
ALSN	B	-0.12%
DTM	B	-0.12%
AXS	A	-0.11%
LNC	B	-0.11%
BJ	A	-0.11%
MUSA	A	-0.11%
FOXA	B	-0.11%
EXR	D	-0.11%
PPC	C	-0.11%
FOX	A	-0.11%
CW	B	-0.11%
DPZ	C	-0.11%
R	B	-0.11%
LOPE	B	-0.11%
CASY	A	-0.11%
RGA	A	-0.11%
G	B	-0.11%
ESS	B	-0.11%
TXRH	C	-0.11%
JHG	A	-0.11%
THC	D	-0.11%
BBY	D	-0.11%
UGI	A	-0.1%
OHI	C	-0.1%
ROL	B	-0.1%
CLH	B	-0.1%
LAMR	D	-0.1%
UHS	D	-0.1%
NFG	A	-0.1%
DVA	B	-0.1%
ADC	B	-0.1%
DKS	C	-0.1%
VICI	C	-0.1%
KRC	C	-0.1%
INGR	B	-0.1%
KEX	C	-0.1%
RGLD	C	-0.1%
EHC	B	-0.1%
CHRW	C	-0.1%
CUZ	B	-0.1%
AMCR	D	-0.09%
WU	D	-0.09%
JNPR	F	-0.09%
NNN	D	-0.09%
MPWR	F	-0.09%
EPR	D	-0.09%
PK	B	-0.09%
SNX	C	-0.09%
CACI	D	-0.09%
NEU	C	-0.09%
GAP	C	-0.09%
GPK	C	-0.09%
CHE	D	-0.09%
LEN	D	-0.09%
HRB	D	-0.09%
GLPI	C	-0.09%
AVT	C	-0.09%
OMC	C	-0.09%
SWKS	F	-0.09%
MTG	C	-0.09%
M	D	-0.09%
SSNC	B	-0.09%
HIW	D	-0.09%
APA	D	-0.08%
CRI	D	-0.08%
WING	D	-0.08%
COKE	C	-0.08%
CIVI	D	-0.08%
MEDP	D	-0.08%
TER	D	-0.08%
CROX	D	-0.07%
OGN	D	-0.07%
CRUS	D	-0.07%
MDU	D	-0.07%