NACP vs. VCSH ETF Comparison

Comparison of Impact Shares NAACP Minority Empowerment ETF (NACP) to Vanguard Short-Term Corporate Bond ETF (VCSH)

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

VCSH

Vanguard Short-Term Corporate Bond ETF

VCSH Description

The investment seeks to track the performance of a market-weighted corporate bond index with a short-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 1-5 Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 1 and 5 years. At least 80% of the fund's assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$78.17

Average Daily Volume

2,792,762

Number of Holdings ^*

443

* may have additional holdings in another (foreign) market

Performance

Period	NACP	VCSH
30 Days	2.08%	-0.10%
60 Days	4.48%	-0.93%
90 Days	6.57%	0.07%
12 Months	32.92%	6.91%

159 Overlapping Holdings

Symbol	Grade	Weight in NACP	Weight in VCSH	Overlap
A	D	0.14%	0.02%	0.02%
AAPL	C	5.03%	0.03%	0.03%
ABBV	D	1.22%	0.02%	0.02%
ABT	B	0.69%	0.02%	0.02%
ADM	D	0.11%	0.05%	0.05%
ADP	B	0.4%	0.05%	0.05%
AEP	D	0.19%	0.01%	0.01%
AES	F	0.05%	0.02%	0.02%
ALB	C	0.04%	0.02%	0.02%
AMZN	C	4.47%	0.04%	0.04%
AON	A	0.24%	0.01%	0.01%
APTV	D	0.08%	0.03%	0.03%
AVB	B	0.11%	0.01%	0.01%
AXP	A	0.56%	0.03%	0.03%
BA	F	0.38%	0.01%	0.01%
BAC	A	0.99%	0.01%	0.01%
BAX	D	0.07%	0.03%	0.03%
BDX	F	0.23%	0.02%	0.02%
BG	F	0.05%	0.03%	0.03%
BIIB	F	0.1%	0.08%	0.08%
BK	A	0.17%	0.01%	0.01%
BMY	B	0.35%	0.02%	0.02%
BSX	B	0.41%	0.01%	0.01%
BWA	D	0.03%	0.02%	0.02%
C	A	0.45%	0.02%	0.02%
CCI	D	0.18%	0.02%	0.02%
CF	B	0.05%	0.02%	0.02%
CI	F	0.37%	0.01%	0.01%
CLX	B	0.07%	0.01%	0.01%
CMI	A	0.15%	0.02%	0.02%
CMS	C	0.07%	0.01%	0.01%
CNH	C	0.03%	0.02%	0.02%
COP	C	0.49%	0.01%	0.01%
CPB	D	0.04%	0.02%	0.02%
CSX	B	0.24%	0.02%	0.02%
CVS	D	0.27%	0.02%	0.02%
CVX	A	1.04%	0.02%	0.02%
D	C	0.18%	0.01%	0.01%
DAL	C	0.09%	0.01%	0.01%
DD	D	0.14%	0.08%	0.08%
DE	A	0.36%	0.01%	0.01%
DELL	C	0.54%	0.01%	0.01%
DGX	A	0.06%	0.02%	0.02%
DHR	F	0.64%	0.02%	0.02%
DOC	D	0.06%	0.02%	0.02%
DTE	C	0.08%	0.01%	0.01%
DUK	C	0.32%	0.01%	0.01%
DVN	F	0.1%	0.02%	0.02%
EA	A	0.45%	0.02%	0.02%
EBAY	D	0.11%	0.03%	0.03%
ED	D	0.12%	0.01%	0.01%
EIX	B	0.11%	0.01%	0.01%
EMN	D	0.04%	0.03%	0.03%
EMR	A	0.22%	0.01%	0.01%
EQIX	A	0.29%	0.02%	0.02%
ES	D	0.08%	0.01%	0.01%
ETN	A	0.44%	0.07%	0.07%
ETR	B	0.08%	0.01%	0.01%
EXC	C	0.15%	0.01%	0.01%
FDX	B	0.25%	0.03%	0.03%
FE	C	0.08%	0.01%	0.01%
GE	D	0.69%	0.01%	0.01%
GILD	C	0.35%	0.04%	0.04%
GM	B	0.18%	0.02%	0.02%
GOOGL	C	2.41%	0.04%	0.04%
HBAN	A	0.07%	0.01%	0.01%
HES	B	0.15%	0.01%	0.01%
HON	B	0.46%	0.01%	0.01%
HPQ	B	0.62%	0.05%	0.05%
HRL	D	0.03%	0.03%	0.03%
HSY	F	0.1%	0.01%	0.01%
HUBB	B	0.06%	0.01%	0.01%
IBM	C	3.08%	0.02%	0.02%
IFF	D	0.09%	0.01%	0.01%
ILMN	D	0.07%	0.02%	0.02%
INTC	D	1.52%	0.03%	0.03%
IPG	D	0.16%	0.01%	0.01%
ITW	B	0.27%	0.04%	0.04%
JBHT	C	0.05%	0.03%	0.03%
JCI	C	0.17%	0.02%	0.02%
JNJ	D	1.44%	0.02%	0.02%
JPM	A	2.39%	0.01%	0.01%
K	A	0.07%	0.02%	0.02%
KMI	A	0.15%	0.02%	0.02%
KO	D	0.99%	0.06%	0.06%
KR	B	0.13%	0.02%	0.02%
LH	C	0.07%	0.01%	0.01%
LHX	C	0.16%	0.02%	0.02%
LII	A	0.07%	0.01%	0.01%
LNT	A	0.05%	0.02%	0.02%
LOW	D	0.51%	0.01%	0.01%
LUV	C	0.06%	0.01%	0.01%
MA	C	1.4%	0.04%	0.04%
MAR	B	0.19%	0.01%	0.01%
MCO	B	0.26%	0.02%	0.02%
MDLZ	F	0.36%	0.01%	0.01%
MDT	D	0.42%	0.08%	0.08%
MET	A	0.17%	0.02%	0.02%
MLM	B	0.12%	0.01%	0.01%
MMM	D	0.26%	0.01%	0.01%
MOS	F	0.03%	0.03%	0.03%
MPC	D	0.23%	0.03%	0.03%
MRK	F	1.03%	0.04%	0.04%
MS	A	0.47%	0.03%	0.03%
MSFT	F	4.63%	0.04%	0.04%
MU	D	1.75%	0.03%	0.03%
NDAQ	A	0.08%	0.01%	0.01%
NEE	D	0.66%	0.01%	0.01%
NEM	D	0.22%	0.01%	0.01%
NI	A	0.05%	0.05%	0.05%
NKE	D	0.36%	0.02%	0.02%
NOC	D	0.29%	0.05%	0.05%
NSC	B	0.2%	0.01%	0.01%
NVDA	C	4.9%	0.02%	0.02%
OC	A	0.05%	0.01%	0.01%
OKE	A	0.18%	0.02%	0.02%
OTIS	C	0.13%	0.07%	0.07%
PCG	A	0.09%	0.01%	0.01%
PEG	A	0.14%	0.01%	0.01%
PEP	F	0.92%	0.02%	0.02%
PFE	D	0.62%	0.03%	0.03%
PFG	D	0.03%	0.01%	0.01%
PNC	B	0.27%	0.02%	0.02%
PPG	F	0.1%	0.01%	0.01%
PPL	B	0.08%	0.01%	0.01%
PSX	C	0.22%	0.01%	0.01%
PYPL	B	0.27%	0.03%	0.03%
QCOM	F	3.18%	0.04%	0.04%
RF	A	0.07%	0.04%	0.04%
ROK	B	0.11%	0.01%	0.01%
SCCO	F	0.03%	0.01%	0.01%
SCHW	B	0.33%	0.01%	0.01%
SO	D	0.35%	0.01%	0.01%
SPGI	C	0.55%	0.03%	0.03%
SRE	A	0.18%	0.01%	0.01%
SWK	D	0.06%	0.03%	0.03%
SYF	B	0.08%	0.03%	0.03%
T	A	0.45%	0.01%	0.01%
TAP	C	0.03%	0.1%	0.03%
TFC	A	0.22%	0.01%	0.01%
TMO	F	0.83%	0.01%	0.01%
TSN	B	0.07%	0.01%	0.01%
TT	A	0.29%	0.02%	0.02%
TXT	D	0.06%	0.01%	0.01%
UAL	A	0.05%	0.01%	0.01%
UNH	C	1.95%	0.01%	0.01%
UNP	C	0.56%	0.01%	0.01%
UPS	C	0.35%	0.02%	0.02%
V	A	1.53%	0.13%	0.13%
VLO	C	0.17%	0.03%	0.03%
VMC	B	0.12%	0.01%	0.01%
VRSK	A	0.13%	0.05%	0.05%
VZ	C	2.26%	0.06%	0.06%
WBA	F	0.03%	0.06%	0.03%
WEC	A	0.1%	0.02%	0.02%
WMB	A	0.19%	0.03%	0.03%
WMT	A	0.73%	0.02%	0.02%
XEL	A	0.12%	0.01%	0.01%
XOM	B	2.0%	0.02%	0.02%

NACP Overweight 38 Positions Relative to VCSH

Symbol	Grade	Weight
META	D	3.63%
ACN	C	3.58%
UBER	D	2.29%
TSLA	B	2.22%
GOOG	C	2.16%
PANW	C	1.81%
ELV	F	0.47%
PLD	D	0.42%
MELI	D	0.38%
FCX	D	0.25%
ECL	D	0.21%
TRV	B	0.18%
URI	B	0.18%
HLT	A	0.17%
LNG	B	0.16%
EW	C	0.15%
F	C	0.15%
HWM	A	0.14%
AME	A	0.13%
IR	B	0.12%
KHC	F	0.12%
RCL	A	0.12%
VST	B	0.11%
RMD	C	0.11%
XYL	D	0.11%
TROW	B	0.09%
SBAC	D	0.08%
NRG	B	0.07%
EXPD	D	0.07%
BAH	F	0.07%
SJM	D	0.05%
AMH	D	0.05%
ACM	A	0.05%
NDSN	B	0.05%
REG	B	0.04%
LECO	B	0.04%
TFX	F	0.04%
USFD	A	0.04%

NACP Underweight 284 Positions Relative to VCSH

Symbol	Grade	Weight
CARR	D	-0.09%
STLA	F	-0.07%
CHTR	C	-0.07%
COST	B	-0.06%
KLAC	D	-0.06%
OMC	C	-0.06%
AIG	B	-0.06%
HCA	F	-0.06%
CRM	B	-0.05%
DLTR	F	-0.05%
BLK	C	-0.05%
TGT	F	-0.05%
LMT	D	-0.05%
ORCL	B	-0.05%
NTRS	A	-0.04%
FTV	C	-0.04%
VFC	C	-0.04%
TJX	A	-0.04%
WLK	D	-0.04%
WB	D	-0.04%
ARCC	A	-0.04%
ZTS	D	-0.04%
FOXA	B	-0.04%
RPRX	D	-0.04%
GSK	F	-0.04%
AZN	D	-0.04%
TMUS	B	-0.04%
JNPR	F	-0.03%
DLR	B	-0.03%
MSI	B	-0.03%
AMAT	F	-0.03%
EL	F	-0.03%
WAB	B	-0.03%
SWKS	F	-0.03%
CME	A	-0.03%
AGR	B	-0.03%
JD	D	-0.03%
HAS	D	-0.03%
MHK	D	-0.03%
NUE	C	-0.03%
DXC	B	-0.03%
WAL	B	-0.03%
ATO	A	-0.03%
CNO	A	-0.03%
SNX	C	-0.03%
PVH	C	-0.03%
PHM	D	-0.03%
GIS	D	-0.03%
BXP	D	-0.03%
ADBE	C	-0.03%
GLPI	C	-0.03%
JEF	A	-0.03%
HAL	C	-0.03%
SYY	B	-0.03%
PRU	A	-0.03%
STT	A	-0.03%
GPN	B	-0.03%
DIS	B	-0.03%
EPD	A	-0.03%
MPLX	A	-0.03%
FIS	C	-0.03%
BERY	B	-0.03%
CB	C	-0.03%
AER	B	-0.03%
VTRS	A	-0.03%
FITB	A	-0.03%
HPE	B	-0.03%
CMCSA	B	-0.03%
WPC	D	-0.02%
SKT	B	-0.02%
RL	B	-0.02%
THG	A	-0.02%
UNM	A	-0.02%
VNT	B	-0.02%
STLD	B	-0.02%
BKU	A	-0.02%
CDNS	B	-0.02%
BEN	C	-0.02%
CPT	B	-0.02%
GBDC	C	-0.02%
BC	C	-0.02%
ALLE	D	-0.02%
AIZ	A	-0.02%
HST	C	-0.02%
HP	B	-0.02%
HOG	D	-0.02%
INTU	C	-0.02%
L	A	-0.02%
GXO	B	-0.02%
KMPR	B	-0.02%
EQH	B	-0.02%
FTNT	C	-0.02%
FRT	B	-0.02%
NNN	D	-0.02%
SF	B	-0.02%
PSA	D	-0.02%
SBRA	C	-0.02%
TSLX	C	-0.02%
VNO	B	-0.02%
WM	A	-0.02%
BKH	A	-0.02%
APH	A	-0.02%
DOV	A	-0.02%
COKE	C	-0.02%
BABA	D	-0.02%
AWH	F	-0.02%
AFG	A	-0.02%
BRO	B	-0.02%
BR	A	-0.02%
CTVA	C	-0.02%
KEYS	A	-0.02%
GSBD	F	-0.02%
HRB	D	-0.02%
IP	B	-0.02%
GWW	B	-0.02%
LLY	F	-0.02%
OCSL	F	-0.02%
LAZ	B	-0.02%
MRVL	B	-0.02%
LRCX	F	-0.02%
ORI	A	-0.02%
LYB	F	-0.02%
PH	A	-0.02%
TDY	B	-0.02%
VOYA	B	-0.02%
EQR	B	-0.02%
LIN	D	-0.02%
OHI	C	-0.02%
LDOS	C	-0.02%
NTAP	C	-0.02%
IVZ	B	-0.02%
HUM	C	-0.02%
VTR	C	-0.02%
BRX	A	-0.02%
CE	F	-0.02%
AN	C	-0.02%
CNA	B	-0.02%
EOG	A	-0.02%
FANG	D	-0.02%
FLEX	A	-0.02%
EXPE	B	-0.02%
ADI	D	-0.02%
EFX	F	-0.02%
ROST	C	-0.02%
NXPI	D	-0.02%
MTB	A	-0.02%
KDP	D	-0.02%
BKNG	A	-0.02%
ICE	C	-0.02%
FSK	A	-0.02%
GD	F	-0.02%
CAH	B	-0.02%
WEST	C	-0.02%
PM	B	-0.02%
MKC	D	-0.02%
STZ	D	-0.02%
SBUX	A	-0.02%
SPG	B	-0.02%
ET	A	-0.02%
AL	B	-0.02%
CM	A	-0.02%
SLB	C	-0.02%
SHW	A	-0.02%
ZBH	C	-0.02%
CSCO	B	-0.02%
AFL	B	-0.02%
LVS	C	-0.02%
CAT	B	-0.02%
USB	A	-0.02%
RTX	C	-0.02%
RY	A	-0.02%
TD	F	-0.02%
NVT	B	-0.01%
HIW	D	-0.01%
FNB	A	-0.01%
CACC	D	-0.01%
VLY	B	-0.01%
RPM	A	-0.01%
JBL	B	-0.01%
KSS	F	-0.01%
G	B	-0.01%
AMD	F	-0.01%
EPR	D	-0.01%
NEU	C	-0.01%
UHS	D	-0.01%
UDR	B	-0.01%
WY	D	-0.01%
TKR	D	-0.01%
FAF	A	-0.01%
LEG	F	-0.01%
CHD	B	-0.01%
FMC	D	-0.01%
JHG	A	-0.01%
WHR	B	-0.01%
RNR	C	-0.01%
SNV	B	-0.01%
SLG	B	-0.01%
RS	B	-0.01%
BDN	C	-0.01%
BCSF	C	-0.01%
TME	D	-0.01%
RGA	A	-0.01%
SITC	D	-0.01%
TEL	B	-0.01%
TRMB	B	-0.01%
CL	D	-0.01%
BHP	F	-0.01%
CSL	C	-0.01%
FLS	B	-0.01%
GP	F	-0.01%
H	B	-0.01%
KMB	D	-0.01%
OGS	A	-0.01%
LNC	B	-0.01%
PNW	B	-0.01%
PSEC	D	-0.01%
ADSK	A	-0.01%
FHN	A	-0.01%
CUBE	D	-0.01%
MAIN	A	-0.01%
MAA	B	-0.01%
PDM	D	-0.01%
KIM	A	-0.01%
HII	D	-0.01%
KRC	C	-0.01%
NFG	A	-0.01%
ORLY	B	-0.01%
OPI	F	-0.01%
LEN	D	-0.01%
APD	A	-0.01%
CP	D	-0.01%
CNP	B	-0.01%
DHI	D	-0.01%
AVT	C	-0.01%
PCAR	B	-0.01%
AMG	B	-0.01%
AEE	A	-0.01%
ARW	D	-0.01%
AZO	C	-0.01%
AWK	D	-0.01%
PKG	A	-0.01%
MCK	B	-0.01%
DOW	F	-0.01%
WU	D	-0.01%
ROP	B	-0.01%
ESS	B	-0.01%
EVRG	A	-0.01%
ALL	A	-0.01%
AMP	A	-0.01%
SYK	C	-0.01%
R	B	-0.01%
TXN	C	-0.01%
DFS	B	-0.01%
O	D	-0.01%
MCHP	D	-0.01%
KEY	B	-0.01%
CMA	A	-0.01%
ARE	D	-0.01%
CFG	B	-0.01%
BIDU	F	-0.01%
AMT	D	-0.01%
MMC	B	-0.01%
PAA	B	-0.01%
AMGN	D	-0.01%
ALLY	C	-0.01%
RSG	A	-0.01%
HD	A	-0.01%
PG	A	-0.01%
DG	F	-0.01%
MO	A	-0.01%
CAG	D	-0.01%
MCD	D	-0.01%
BNS	A	-0.01%
COF	B	-0.01%
VOD	F	-0.01%
WELL	A	-0.01%
DB	D	-0.01%
AVGO	D	-0.01%
BMO	A	-0.01%
HSBC	B	-0.01%
NWG	C	-0.01%
MUFG	B	-0.01%
WFC	A	-0.01%
GS	A	-0.01%