NACP vs. NXTI ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to Simplify Next Intangible Core Index ETF (NXTI)

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

NXTI

Simplify Next Intangible Core Index ETF

NXTI Description

NXTI targets US companies with relatively high intangible capital-to-book assets ratios within their respective sectors. The fund defines intangible capital as productive assets that lack physical presence and are created through investments in brand, knowledge, and organization capital. The index construction starts by calculating a ratio of intangible capital-to-book assets for each security in an initial universe consisting of the largest 2000 US companies by market-cap. The 200 stocks with the highest intangible capital-to-book assets ratio are selected for inclusion. At least five stocks are included from each of the 13 sectors determined by the index provider using a combination of SIC and NAICS codes along with data from publicly available 10-K filings. Constituents are weighted by market capitalization, with individual security weights capped at 5%. The index reconstitutes quarterly.

Grade (RS Rating)

Last Trade

$30.42

Average Daily Volume

460

Number of Holdings ^*

197

* may have additional holdings in another (foreign) market

Performance

Period	NACP	NXTI
30 Days	2.08%	5.73%
60 Days	4.48%	7.47%
90 Days	6.57%	10.93%
12 Months	32.92%

52 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in NXTI	Overlap
A	D	0.14%	0.26%	0.14%
APTV	D	0.08%	0.1%	0.08%
AXP	A	0.56%	0.77%	0.56%
BAH	F	0.07%	0.15%	0.07%
CI	F	0.37%	0.36%	0.36%
CLX	B	0.07%	0.13%	0.07%
CMI	A	0.15%	0.3%	0.15%
CVS	D	0.27%	0.29%	0.27%
D	C	0.18%	0.46%	0.18%
DD	D	0.14%	0.18%	0.14%
DELL	C	0.54%	1.03%	0.54%
EA	A	0.45%	0.5%	0.45%
EBAY	D	0.11%	0.33%	0.11%
ECL	D	0.21%	0.35%	0.21%
ED	D	0.12%	0.32%	0.12%
ELV	F	0.47%	0.36%	0.36%
EXPD	D	0.07%	0.12%	0.07%
FDX	B	0.25%	0.44%	0.25%
HON	B	0.46%	0.91%	0.46%
HPQ	B	0.62%	0.45%	0.45%
HSY	F	0.1%	0.15%	0.1%
IBM	C	3.08%	2.28%	2.28%
ILMN	D	0.07%	0.15%	0.07%
ITW	B	0.27%	0.49%	0.27%
K	A	0.07%	0.12%	0.07%
KO	D	0.99%	1.23%	0.99%
KR	B	0.13%	0.37%	0.13%
LII	A	0.07%	0.11%	0.07%
LOW	D	0.51%	0.59%	0.51%
MA	C	1.4%	3.02%	1.4%
META	D	3.63%	5.28%	3.63%
MMM	D	0.26%	0.47%	0.26%
MPC	D	0.23%	0.33%	0.23%
NI	A	0.05%	0.14%	0.05%
NKE	D	0.36%	0.82%	0.36%
NRG	B	0.07%	0.17%	0.07%
OTIS	C	0.13%	0.16%	0.13%
PANW	C	1.81%	1.5%	1.5%
PEP	F	0.92%	1.02%	0.92%
PPG	F	0.1%	0.12%	0.1%
TRV	B	0.18%	0.22%	0.18%
TT	A	0.29%	0.52%	0.29%
TXT	D	0.06%	0.1%	0.06%
UBER	D	2.29%	1.04%	1.04%
UNH	C	1.95%	2.16%	1.95%
UPS	C	0.35%	0.79%	0.35%
VMC	B	0.12%	0.23%	0.12%
VST	B	0.11%	0.32%	0.11%
WMB	A	0.19%	0.59%	0.19%
WMT	A	0.73%	5.09%	0.73%
XOM	B	2.0%	3.43%	2.0%
XYL	D	0.11%	0.14%	0.11%

NACP Overweight 145 Positions Relative to NXTI

Symbol	Grade	Weight
AAPL	C	5.03%
NVDA	C	4.9%
MSFT	F	4.63%
AMZN	C	4.47%
ACN	C	3.58%
QCOM	F	3.18%
GOOGL	C	2.41%
JPM	A	2.39%
VZ	C	2.26%
TSLA	B	2.22%
GOOG	C	2.16%
MU	D	1.75%
V	A	1.53%
INTC	D	1.52%
JNJ	D	1.44%
ABBV	D	1.22%
CVX	A	1.04%
MRK	F	1.03%
BAC	A	0.99%
TMO	F	0.83%
ABT	B	0.69%
GE	D	0.69%
NEE	D	0.66%
DHR	F	0.64%
PFE	D	0.62%
UNP	C	0.56%
SPGI	C	0.55%
COP	C	0.49%
MS	A	0.47%
C	A	0.45%
T	A	0.45%
ETN	A	0.44%
MDT	D	0.42%
PLD	D	0.42%
BSX	B	0.41%
ADP	B	0.4%
BA	F	0.38%
MELI	D	0.38%
DE	A	0.36%
MDLZ	F	0.36%
BMY	B	0.35%
GILD	C	0.35%
SO	D	0.35%
SCHW	B	0.33%
DUK	C	0.32%
EQIX	A	0.29%
NOC	D	0.29%
PNC	B	0.27%
PYPL	B	0.27%
MCO	B	0.26%
FCX	D	0.25%
AON	A	0.24%
CSX	B	0.24%
BDX	F	0.23%
PSX	C	0.22%
TFC	A	0.22%
NEM	D	0.22%
EMR	A	0.22%
NSC	B	0.2%
AEP	D	0.19%
MAR	B	0.19%
OKE	A	0.18%
SRE	A	0.18%
CCI	D	0.18%
GM	B	0.18%
URI	B	0.18%
MET	A	0.17%
BK	A	0.17%
VLO	C	0.17%
JCI	C	0.17%
HLT	A	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%
PEG	A	0.14%
HWM	A	0.14%
AME	A	0.13%
VRSK	A	0.13%
IR	B	0.12%
MLM	B	0.12%
XEL	A	0.12%
KHC	F	0.12%
RCL	A	0.12%
AVB	B	0.11%
ROK	B	0.11%
EIX	B	0.11%
ADM	D	0.11%
RMD	C	0.11%
DVN	F	0.1%
WEC	A	0.1%
BIIB	F	0.1%
PCG	A	0.09%
TROW	B	0.09%
IFF	D	0.09%
DAL	C	0.09%
SYF	B	0.08%
SBAC	D	0.08%
PPL	B	0.08%
FE	C	0.08%
ETR	B	0.08%
NDAQ	A	0.08%
DTE	C	0.08%
ES	D	0.08%
CMS	C	0.07%
TSN	B	0.07%
BAX	D	0.07%
LH	C	0.07%
HBAN	A	0.07%
RF	A	0.07%
SWK	D	0.06%
LUV	C	0.06%
DOC	D	0.06%
DGX	A	0.06%
HUBB	B	0.06%
SJM	D	0.05%
AMH	D	0.05%
OC	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%
CF	B	0.05%
CPB	D	0.04%
REG	B	0.04%
LECO	B	0.04%
TFX	F	0.04%
ALB	C	0.04%
EMN	D	0.04%
USFD	A	0.04%
WBA	F	0.03%
BWA	D	0.03%
SCCO	F	0.03%
PFG	D	0.03%
MOS	F	0.03%
HRL	D	0.03%
CNH	C	0.03%
TAP	C	0.03%

NACP Underweight 145 Positions Relative to NXTI

Symbol	Grade	Weight
BRK.A	B	-4.18%
ADBE	C	-2.94%
CSCO	B	-2.73%
NOW	A	-2.29%
INTU	C	-2.08%
HD	A	-1.6%
ALNY	D	-1.07%
IDXX	F	-1.04%
PLTR	B	-0.99%
SNPS	B	-0.95%
SPOT	B	-0.93%
MSI	B	-0.91%
PM	B	-0.9%
BKNG	A	-0.88%
CDNS	B	-0.87%
WDAY	B	-0.81%
FTNT	C	-0.77%
BX	A	-0.77%
AMAT	F	-0.74%
ADSK	A	-0.72%
TGT	F	-0.67%
GEV	B	-0.66%
TEAM	A	-0.61%
ABNB	C	-0.58%
FICO	B	-0.57%
PGR	A	-0.56%
CL	D	-0.55%
CTAS	B	-0.55%
APP	B	-0.54%
DDOG	A	-0.54%
LRCX	F	-0.53%
ORLY	B	-0.49%
ALGN	D	-0.47%
CTSH	B	-0.47%
INCY	C	-0.46%
NTRA	B	-0.45%
SRPT	D	-0.43%
MMC	B	-0.43%
DASH	A	-0.42%
NBIX	C	-0.4%
INSM	C	-0.39%
PH	A	-0.39%
NET	B	-0.38%
SHW	A	-0.36%
TRGP	B	-0.34%
HUBS	A	-0.34%
ZS	C	-0.33%
PAYX	C	-0.32%
PEN	B	-0.32%
GDDY	A	-0.31%
KMB	D	-0.31%
GWW	B	-0.31%
HSIC	B	-0.3%
CDW	F	-0.3%
ITCI	C	-0.29%
NTAP	C	-0.29%
PINS	D	-0.29%
EXEL	B	-0.29%
IOT	A	-0.28%
STX	D	-0.26%
BKR	B	-0.25%
AJG	B	-0.25%
IT	C	-0.24%
AFL	B	-0.24%
RDDT	B	-0.24%
MDB	C	-0.24%
SNAP	C	-0.23%
VLTO	D	-0.23%
ZBRA	B	-0.23%
NWS	B	-0.22%
AMP	A	-0.22%
MNST	C	-0.22%
IONS	F	-0.22%
NTNX	A	-0.21%
MDGL	B	-0.2%
CYTK	F	-0.2%
BPMC	C	-0.2%
AIG	B	-0.2%
MANH	D	-0.19%
CVNA	B	-0.19%
DT	C	-0.19%
INSP	D	-0.19%
ALL	A	-0.19%
PSTG	D	-0.19%
SMMT	D	-0.19%
TOST	B	-0.19%
BBIO	F	-0.18%
FAST	B	-0.18%
EL	F	-0.18%
PRU	A	-0.18%
DOCU	A	-0.18%
MTD	D	-0.18%
BBY	D	-0.18%
FFIV	B	-0.17%
KEYS	A	-0.17%
CACI	D	-0.16%
ULTA	F	-0.16%
GWRE	A	-0.16%
SYY	B	-0.16%
JNPR	F	-0.16%
GIS	D	-0.16%
HUM	C	-0.15%
RARE	D	-0.15%
CORT	B	-0.15%
ROL	B	-0.15%
CBRE	B	-0.15%
LYV	A	-0.15%
DECK	A	-0.14%
ALKS	B	-0.14%
WAT	B	-0.14%
DUOL	A	-0.14%
WSM	B	-0.14%
EXPE	B	-0.14%
BURL	A	-0.14%
AXSM	B	-0.14%
ACGL	D	-0.14%
CNC	D	-0.13%
HIG	B	-0.13%
DOV	A	-0.12%
AVY	D	-0.12%
FOLD	F	-0.12%
TER	D	-0.12%
APLS	D	-0.12%
MTCH	D	-0.12%
BRO	B	-0.12%
TW	A	-0.11%
GTLB	B	-0.11%
TGTX	B	-0.11%
IOVA	F	-0.11%
RL	B	-0.11%
TSCO	D	-0.11%
NYT	C	-0.11%
PCOR	B	-0.11%
DKNG	B	-0.1%
APPF	B	-0.1%
AMED	F	-0.1%
ACI	C	-0.1%
GPC	D	-0.1%
DNLI	D	-0.1%
CHWY	B	-0.09%
DYN	F	-0.09%
RS	B	-0.09%
WING	D	-0.08%
DLB	B	-0.04%
LNW	D	-0.04%