NACP vs. UDIV ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to Franklin U.S. Core Dividend Tilt Index ETF (UDIV)

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

UDIV

Franklin U.S. Core Dividend Tilt Index ETF

UDIV Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the LibertyQ Global Dividend Index. The fund invests at least 80% of its assets in the component securities of the index and in depositary receipts representing such securities. The index includes stocks from developed and emerging market countries with high and persistent dividend income that have favorable exposure to a quality investment style factor.

Grade (RS Rating)

Last Trade

$46.42

Average Daily Volume

4,741

Number of Holdings ^*

277

* may have additional holdings in another (foreign) market

Performance

Period	NACP	UDIV
30 Days	2.08%	2.89%
60 Days	4.48%	4.78%
90 Days	6.57%	6.71%
12 Months	32.92%	35.02%

119 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in UDIV	Overlap
AAPL	C	5.03%	6.17%	5.03%
ABBV	D	1.22%	0.97%	0.97%
ABT	B	0.69%	0.48%	0.48%
ACN	C	3.58%	0.45%	0.45%
ADP	B	0.4%	0.13%	0.13%
AEP	D	0.19%	0.29%	0.19%
AES	F	0.05%	0.06%	0.05%
AMZN	C	4.47%	3.48%	3.48%
AVB	B	0.11%	0.18%	0.11%
BAC	A	0.99%	0.65%	0.65%
BAX	D	0.07%	0.09%	0.07%
BK	A	0.17%	0.33%	0.17%
BMY	B	0.35%	0.69%	0.35%
C	A	0.45%	0.82%	0.45%
CCI	D	0.18%	0.24%	0.18%
CLX	B	0.07%	0.12%	0.07%
CMI	A	0.15%	0.3%	0.15%
CMS	C	0.07%	0.11%	0.07%
CNH	C	0.03%	0.06%	0.03%
COP	C	0.49%	0.25%	0.25%
CPB	D	0.04%	0.05%	0.04%
CVS	D	0.27%	0.39%	0.27%
CVX	A	1.04%	1.12%	1.04%
D	C	0.18%	0.27%	0.18%
DELL	C	0.54%	0.1%	0.1%
DOC	D	0.06%	0.09%	0.06%
DTE	C	0.08%	0.14%	0.08%
DUK	C	0.32%	0.49%	0.32%
DVN	F	0.1%	0.16%	0.1%
EBAY	D	0.11%	0.13%	0.11%
ED	D	0.12%	0.19%	0.12%
EIX	B	0.11%	0.19%	0.11%
EMN	D	0.04%	0.07%	0.04%
EMR	A	0.22%	0.22%	0.22%
EQIX	A	0.29%	0.21%	0.21%
ES	D	0.08%	0.12%	0.08%
ETN	A	0.44%	0.41%	0.41%
ETR	B	0.08%	0.18%	0.08%
EXC	C	0.15%	0.22%	0.15%
F	C	0.15%	0.27%	0.15%
FDX	B	0.25%	0.08%	0.08%
FE	C	0.08%	0.12%	0.08%
GILD	C	0.35%	0.63%	0.35%
GOOG	C	2.16%	1.73%	1.73%
GOOGL	C	2.41%	1.92%	1.92%
HBAN	A	0.07%	0.16%	0.07%
HON	B	0.46%	0.18%	0.18%
HPQ	B	0.62%	0.23%	0.23%
HRL	D	0.03%	0.05%	0.03%
HUBB	B	0.06%	0.06%	0.06%
IBM	C	3.08%	0.81%	0.81%
IFF	D	0.09%	0.13%	0.09%
INTC	D	1.52%	0.41%	0.41%
IPG	D	0.16%	0.06%	0.06%
ITW	B	0.27%	0.43%	0.27%
JCI	C	0.17%	0.23%	0.17%
JNJ	D	1.44%	1.16%	1.16%
JPM	A	2.39%	1.35%	1.35%
K	A	0.07%	0.12%	0.07%
KHC	F	0.12%	0.16%	0.12%
KMI	A	0.15%	0.32%	0.15%
KO	D	0.99%	0.74%	0.74%
LNT	A	0.05%	0.09%	0.05%
LOW	D	0.51%	0.27%	0.27%
LUV	C	0.06%	0.11%	0.06%
MA	C	1.4%	0.23%	0.23%
MDT	D	0.42%	0.56%	0.42%
MELI	D	0.38%	0.28%	0.28%
MET	A	0.17%	0.11%	0.11%
META	D	3.63%	2.13%	2.13%
MMM	D	0.26%	0.36%	0.26%
MRK	F	1.03%	0.71%	0.71%
MS	A	0.47%	0.94%	0.47%
MSFT	F	4.63%	6.07%	4.63%
MU	D	1.75%	0.2%	0.2%
NEE	D	0.66%	0.11%	0.11%
NEM	D	0.22%	0.01%	0.01%
NI	A	0.05%	0.09%	0.05%
NKE	D	0.36%	0.13%	0.13%
NSC	B	0.2%	0.07%	0.07%
NVDA	C	4.9%	6.83%	4.9%
OKE	A	0.18%	0.38%	0.18%
PANW	C	1.81%	0.27%	0.27%
PEG	A	0.14%	0.16%	0.14%
PEP	F	0.92%	0.57%	0.57%
PFE	D	0.62%	0.66%	0.62%
PFG	D	0.03%	0.12%	0.03%
PLD	D	0.42%	0.43%	0.42%
PNC	B	0.27%	0.5%	0.27%
PPL	B	0.08%	0.14%	0.08%
PSX	C	0.22%	0.22%	0.22%
QCOM	F	3.18%	0.74%	0.74%
REG	B	0.04%	0.07%	0.04%
RF	A	0.07%	0.15%	0.07%
ROK	B	0.11%	0.2%	0.11%
SCCO	F	0.03%	0.06%	0.03%
SJM	D	0.05%	0.07%	0.05%
SO	D	0.35%	0.53%	0.35%
SWK	D	0.06%	0.08%	0.06%
T	A	0.45%	0.79%	0.45%
TAP	C	0.03%	0.05%	0.03%
TFC	A	0.22%	0.38%	0.22%
TROW	B	0.09%	0.16%	0.09%
TSLA	B	2.22%	1.48%	1.48%
TSN	B	0.07%	0.11%	0.07%
TT	A	0.29%	0.02%	0.02%
UBER	D	2.29%	0.28%	0.28%
UNH	C	1.95%	0.87%	0.87%
UNP	C	0.56%	0.3%	0.3%
UPS	C	0.35%	0.57%	0.35%
V	A	1.53%	0.34%	0.34%
VLO	C	0.17%	0.08%	0.08%
VZ	C	2.26%	0.77%	0.77%
WBA	F	0.03%	0.04%	0.03%
WEC	A	0.1%	0.18%	0.1%
WMB	A	0.19%	0.41%	0.19%
WMT	A	0.73%	0.03%	0.03%
XEL	A	0.12%	0.21%	0.12%
XOM	B	2.0%	1.35%	1.35%

NACP Overweight 78 Positions Relative to UDIV

Symbol	Grade	Weight
TMO	F	0.83%
GE	D	0.69%
DHR	F	0.64%
AXP	A	0.56%
SPGI	C	0.55%
ELV	F	0.47%
EA	A	0.45%
BSX	B	0.41%
BA	F	0.38%
CI	F	0.37%
DE	A	0.36%
MDLZ	F	0.36%
SCHW	B	0.33%
NOC	D	0.29%
PYPL	B	0.27%
MCO	B	0.26%
FCX	D	0.25%
AON	A	0.24%
CSX	B	0.24%
MPC	D	0.23%
BDX	F	0.23%
ECL	D	0.21%
MAR	B	0.19%
SRE	A	0.18%
TRV	B	0.18%
GM	B	0.18%
URI	B	0.18%
HLT	A	0.17%
LNG	B	0.16%
LHX	C	0.16%
HES	B	0.15%
EW	C	0.15%
DD	D	0.14%
A	D	0.14%
HWM	A	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%
RCL	A	0.12%
VST	B	0.11%
ADM	D	0.11%
RMD	C	0.11%
XYL	D	0.11%
HSY	F	0.1%
PPG	F	0.1%
BIIB	F	0.1%
PCG	A	0.09%
DAL	C	0.09%
SYF	B	0.08%
APTV	D	0.08%
SBAC	D	0.08%
NDAQ	A	0.08%
NRG	B	0.07%
LII	A	0.07%
EXPD	D	0.07%
BAH	F	0.07%
LH	C	0.07%
ILMN	D	0.07%
DGX	A	0.06%
TXT	D	0.06%
AMH	D	0.05%
OC	A	0.05%
ACM	A	0.05%
NDSN	B	0.05%
UAL	A	0.05%
JBHT	C	0.05%
BG	F	0.05%
CF	B	0.05%
LECO	B	0.04%
TFX	F	0.04%
ALB	C	0.04%
USFD	A	0.04%
BWA	D	0.03%
MOS	F	0.03%

NACP Underweight 158 Positions Relative to UDIV

Symbol	Grade	Weight
AVGO	D	-1.72%
LLY	F	-1.21%
HD	A	-1.06%
BLK	C	-0.87%
CSCO	B	-0.86%
PM	B	-0.86%
TXN	C	-0.85%
PG	A	-0.78%
BX	A	-0.76%
NFLX	A	-0.64%
AMGN	D	-0.62%
MO	A	-0.56%
ADI	D	-0.52%
CRM	B	-0.51%
ORCL	B	-0.5%
NOW	A	-0.47%
INTU	C	-0.47%
USB	A	-0.47%
CME	A	-0.46%
GS	A	-0.44%
AMD	F	-0.43%
WFC	A	-0.42%
APO	B	-0.4%
AMAT	F	-0.38%
CMCSA	B	-0.36%
AMT	D	-0.35%
NXPI	D	-0.35%
ADBE	C	-0.35%
LRCX	F	-0.34%
SPG	B	-0.33%
DLR	B	-0.32%
PLTR	B	-0.31%
CRWD	B	-0.3%
KLAC	D	-0.3%
SBUX	A	-0.3%
PSA	D	-0.29%
ANET	C	-0.28%
PRU	A	-0.28%
TGT	F	-0.28%
O	D	-0.28%
FAST	B	-0.27%
COST	B	-0.26%
PAYX	C	-0.26%
KMB	D	-0.26%
KVUE	A	-0.23%
MCD	D	-0.23%
MSCI	C	-0.23%
MTB	A	-0.22%
FANG	D	-0.21%
GLW	B	-0.21%
EXR	D	-0.2%
GIS	D	-0.2%
MCHP	D	-0.2%
VICI	C	-0.19%
DOW	F	-0.19%
FITB	A	-0.19%
VRT	B	-0.18%
STT	A	-0.18%
BKR	B	-0.18%
APD	A	-0.18%
RTX	C	-0.18%
GRMN	B	-0.18%
ARES	A	-0.18%
IRM	D	-0.17%
SYY	B	-0.17%
KKR	A	-0.16%
SW	A	-0.16%
LIN	D	-0.14%
ISRG	A	-0.14%
DFS	B	-0.14%
VTR	C	-0.14%
CDNS	B	-0.14%
CINF	A	-0.14%
EQR	B	-0.14%
NTAP	C	-0.14%
LYB	F	-0.13%
DIS	B	-0.13%
NTRS	A	-0.13%
CFG	B	-0.13%
COIN	C	-0.13%
MPWR	F	-0.12%
INVH	D	-0.12%
DRI	B	-0.12%
CTRA	B	-0.12%
CMG	B	-0.12%
IP	B	-0.12%
WELL	A	-0.12%
MRVL	B	-0.12%
PKG	A	-0.12%
ESS	B	-0.11%
ZS	C	-0.11%
GPC	D	-0.11%
SNA	A	-0.11%
BBY	D	-0.11%
BR	A	-0.11%
STX	D	-0.11%
OMC	C	-0.11%
DASH	A	-0.11%
KEY	B	-0.11%
WSO	A	-0.11%
SNPS	B	-0.11%
ALL	A	-0.1%
VTRS	A	-0.1%
ARE	D	-0.1%
KIM	A	-0.1%
CAT	B	-0.1%
HPE	B	-0.1%
MAA	B	-0.1%
SUI	D	-0.09%
AMCR	D	-0.09%
DDOG	A	-0.09%
FNF	B	-0.09%
EWBC	A	-0.09%
EL	F	-0.09%
UDR	B	-0.08%
AXON	A	-0.08%
LVS	C	-0.08%
EVRG	A	-0.08%
SWKS	F	-0.08%
EOG	A	-0.07%
WPC	D	-0.07%
CG	A	-0.07%
JNPR	F	-0.07%
BXP	D	-0.07%
CAG	D	-0.07%
HST	C	-0.07%
CPT	B	-0.07%
GEN	B	-0.07%
ELS	C	-0.07%
WDAY	B	-0.06%
APA	D	-0.06%
SLB	C	-0.06%
HUBS	A	-0.06%
SNOW	C	-0.06%
TTD	B	-0.06%
NET	B	-0.06%
GD	F	-0.06%
LKQ	D	-0.06%
MDB	C	-0.05%
APH	A	-0.05%
BEN	C	-0.04%
TSCO	D	-0.04%
SQ	B	-0.04%
RPRX	D	-0.04%
ENTG	D	-0.04%
CRBG	B	-0.04%
AEE	A	-0.03%
SMCI	F	-0.03%
DG	F	-0.03%
AGR	B	-0.02%
SYK	C	-0.02%
OKTA	C	-0.02%
DT	C	-0.02%
FIS	C	-0.02%
CAH	B	-0.02%
TER	D	-0.02%
SIRI	C	-0.01%
BSY	D	-0.01%