NACP vs. SPMV ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to Invesco S&P 500 Minimum Variance ETF (SPMV)

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

SPMV

Invesco S&P 500 Minimum Variance ETF

SPMV Description

The investment seeks to track the investment results (before fees and expenses) of the S&P 500® Minimum Volatility Index (the underlying index). The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is designed to measure the performance of a subset of constituent securities of the S&P 500 Index using a managed volatility equity strategy that seeks to achieve lower total volatility than the S&P 500 ® Index, while maintaining other similar characteristics of the S&P 500 ® Index.

Grade (RS Rating)

Last Trade

$47.62

Average Daily Volume

711

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	NACP	SPMV
30 Days	2.08%	1.14%
60 Days	4.48%	2.01%
90 Days	6.57%	4.46%
12 Months	32.92%	26.03%

40 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in SPMV	Overlap
AAPL	C	5.03%	2.9%	2.9%
ABT	B	0.69%	2.79%	0.69%
ACN	C	3.58%	0.31%	0.31%
ADM	D	0.11%	0.25%	0.11%
AEP	D	0.19%	0.91%	0.19%
AMZN	C	4.47%	3.25%	3.25%
AON	A	0.24%	3.09%	0.24%
BA	F	0.38%	0.04%	0.04%
BIIB	F	0.1%	0.31%	0.1%
CCI	D	0.18%	0.7%	0.18%
CVS	D	0.27%	0.22%	0.22%
DUK	C	0.32%	1.3%	0.32%
ELV	F	0.47%	0.46%	0.46%
GILD	C	0.35%	0.09%	0.09%
GOOG	C	2.16%	0.58%	0.58%
HRL	D	0.03%	0.38%	0.03%
HSY	F	0.1%	1.05%	0.1%
IBM	C	3.08%	0.53%	0.53%
JNJ	D	1.44%	1.18%	1.18%
JPM	A	2.39%	0.61%	0.61%
KHC	F	0.12%	0.29%	0.12%
MDLZ	F	0.36%	2.5%	0.36%
META	D	3.63%	0.33%	0.33%
MRK	F	1.03%	2.43%	1.03%
MSFT	F	4.63%	2.85%	2.85%
NEE	D	0.66%	1.59%	0.66%
NEM	D	0.22%	0.44%	0.22%
NVDA	C	4.9%	3.54%	3.54%
PCG	A	0.09%	0.24%	0.09%
PFE	D	0.62%	1.02%	0.62%
QCOM	F	3.18%	2.79%	2.79%
SO	D	0.35%	0.47%	0.35%
SRE	A	0.18%	1.49%	0.18%
T	A	0.45%	0.28%	0.28%
TRV	B	0.18%	0.98%	0.18%
TSN	B	0.07%	0.42%	0.07%
VRSK	A	0.13%	1.69%	0.13%
VZ	C	2.26%	0.93%	0.93%
XEL	A	0.12%	0.19%	0.12%
XOM	B	2.0%	0.68%	0.68%

NACP Overweight 157 Positions Relative to SPMV

Symbol	Grade	Weight
GOOGL	C	2.41%
UBER	D	2.29%
TSLA	B	2.22%
UNH	C	1.95%
PANW	C	1.81%
MU	D	1.75%
V	A	1.53%
INTC	D	1.52%
MA	C	1.4%
ABBV	D	1.22%
CVX	A	1.04%
KO	D	0.99%
BAC	A	0.99%
PEP	F	0.92%
TMO	F	0.83%
WMT	A	0.73%
GE	D	0.69%
DHR	F	0.64%
HPQ	B	0.62%
AXP	A	0.56%
UNP	C	0.56%
SPGI	C	0.55%
DELL	C	0.54%
LOW	D	0.51%
COP	C	0.49%
MS	A	0.47%
HON	B	0.46%
C	A	0.45%
EA	A	0.45%
ETN	A	0.44%
MDT	D	0.42%
PLD	D	0.42%
BSX	B	0.41%
ADP	B	0.4%
MELI	D	0.38%
CI	F	0.37%
DE	A	0.36%
NKE	D	0.36%
BMY	B	0.35%
UPS	C	0.35%
SCHW	B	0.33%
EQIX	A	0.29%
TT	A	0.29%
NOC	D	0.29%
PNC	B	0.27%
PYPL	B	0.27%
ITW	B	0.27%
MMM	D	0.26%
MCO	B	0.26%
FDX	B	0.25%
FCX	D	0.25%
CSX	B	0.24%
MPC	D	0.23%
BDX	F	0.23%
PSX	C	0.22%
TFC	A	0.22%
EMR	A	0.22%
ECL	D	0.21%
NSC	B	0.2%
WMB	A	0.19%
MAR	B	0.19%
OKE	A	0.18%
D	C	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%
CMI	A	0.15%
EW	C	0.15%
F	C	0.15%
DD	D	0.14%
PEG	A	0.14%
A	D	0.14%
HWM	A	0.14%
OTIS	C	0.13%
KR	B	0.13%
AME	A	0.13%
VMC	B	0.12%
IR	B	0.12%
MLM	B	0.12%
ED	D	0.12%
RCL	A	0.12%
AVB	B	0.11%
ROK	B	0.11%
EBAY	D	0.11%
VST	B	0.11%
EIX	B	0.11%
RMD	C	0.11%
XYL	D	0.11%
DVN	F	0.1%
WEC	A	0.1%
PPG	F	0.1%
TROW	B	0.09%
IFF	D	0.09%
DAL	C	0.09%
SYF	B	0.08%
APTV	D	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%
NRG	B	0.07%
LII	A	0.07%
EXPD	D	0.07%
CMS	C	0.07%
CLX	B	0.07%
BAH	F	0.07%
BAX	D	0.07%
LH	C	0.07%
K	A	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%
DGX	A	0.06%
HUBB	B	0.06%
TXT	D	0.06%
SJM	D	0.05%
AMH	D	0.05%
NI	A	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%
CNH	C	0.03%
TAP	C	0.03%

NACP Underweight 35 Positions Relative to SPMV

Symbol	Grade	Weight
GEV	B	-3.53%
TMUS	B	-3.38%
CSCO	B	-3.34%
BRK.A	B	-2.92%
MMC	B	-2.74%
PG	A	-2.72%
AJG	B	-2.63%
CB	C	-2.58%
VRTX	F	-2.42%
HD	A	-2.22%
ORCL	B	-2.17%
AVGO	D	-2.12%
ADBE	C	-2.1%
NOW	A	-1.76%
AMT	D	-1.76%
ZTS	D	-1.64%
CRM	B	-1.63%
PGR	A	-1.61%
GIS	D	-1.49%
REGN	F	-1.13%
AEE	A	-0.97%
TDY	B	-0.94%
BRO	B	-0.81%
MKC	D	-0.75%
INTU	C	-0.75%
LLY	F	-0.67%
RTX	C	-0.65%
RSG	A	-0.54%
TJX	A	-0.5%
IDXX	F	-0.37%
AMGN	D	-0.32%
AIG	B	-0.25%
ACGL	D	-0.23%
TRMB	B	-0.1%
GD	F	-0.06%