VFMF vs. NACP ETF Comparison

Comparison of Vanguard U.S. Multifactor ETF (VFMF) to Impact Shares NAACP Minority Empowerment ETF (NACP)

VFMF

Vanguard U.S. Multifactor ETF

VFMF Description

The investment seeks to provide long-term capital appreciation by investing in stocks with relatively strong recent performance, strong fundamentals, and low prices relative to fundamentals as determined by the advisor. The fund invests primarily in U.S. common stocks with the potential to generate higher returns relative to the broad U.S. equity market by investing in stocks with relatively strong recent performance, strong fundamentals, and low prices relative to fundamentals as determined by the advisor. Under normal circumstances, at least 80% of the fund's assets will be invested in securities issued by U.S. companies.

Grade (RS Rating)

Last Trade

$131.01

Average Daily Volume

8,779

Number of Holdings ^*

446

* may have additional holdings in another (foreign) market

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

$40.87

Average Daily Volume

2,485

Number of Holdings ^*

196

* may have additional holdings in another (foreign) market

Performance

Period	VFMF	NACP
30 Days	3.80%	2.07%
60 Days	3.06%	3.38%
90 Days	7.60%	3.52%
12 Months	27.79%	30.45%

41 Overlapping Holdings

Symbol	Grade	Weight in VFMF	Weight in NACP	Overlap
ABBV	C	0.97%	1.22%	0.97%
AMZN	C	0.07%	4.47%	0.07%
AXP	B	0.78%	0.56%	0.56%
BG	D	0.2%	0.05%	0.05%
BK	B	1.08%	0.17%	0.17%
BWA	D	0.06%	0.03%	0.03%
CF	C	0.15%	0.05%	0.05%
CI	C	0.47%	0.37%	0.37%
COP	D	0.49%	0.49%	0.49%
CVX	D	0.4%	1.04%	0.4%
DELL	D	0.22%	0.54%	0.22%
EBAY	B	0.06%	0.11%	0.06%
FCX	D	0.1%	0.25%	0.1%
FDX	C	0.65%	0.25%	0.25%
GILD	B	0.61%	0.35%	0.35%
GM	C	0.24%	0.18%	0.18%
GOOG	D	1.1%	2.16%	1.1%
GOOGL	D	0.61%	2.41%	0.61%
HPQ	D	0.21%	0.62%	0.21%
IBM	B	0.64%	3.08%	0.64%
JPM	D	0.77%	2.39%	0.77%
KR	C	0.74%	0.13%	0.13%
LOW	B	0.05%	0.51%	0.05%
MET	B	0.05%	0.17%	0.05%
META	B	0.85%	3.63%	0.85%
MMM	B	0.75%	0.26%	0.26%
MPC	F	0.99%	0.23%	0.23%
MRK	D	0.08%	1.03%	0.08%
NVDA	D	0.44%	4.9%	0.44%
OC	D	0.49%	0.05%	0.05%
PFG	B	0.06%	0.03%	0.03%
PSX	F	0.67%	0.22%	0.22%
QCOM	D	0.88%	3.18%	0.88%
RCL	B	0.12%	0.12%	0.12%
SYF	C	1.01%	0.08%	0.08%
TAP	D	0.12%	0.03%	0.03%
URI	B	0.15%	0.18%	0.15%
VLO	F	1.11%	0.17%	0.17%
VZ	B	0.53%	2.26%	0.53%
WMT	C	0.5%	0.73%	0.5%
XOM	C	0.55%	2.0%	0.55%

VFMF Overweight 405 Positions Relative to NACP

Symbol	Grade	Weight
WFC	D	1.71%
AIG	D	1.6%
FANG	D	1.08%
AMAT	D	1.04%
HIG	B	1.04%
AFL	C	0.97%
MLI	A	0.94%
LRCX	F	0.92%
MTG	B	0.9%
BKNG	C	0.89%
MCK	F	0.87%
BPOP	C	0.81%
APO	C	0.78%
PHM	B	0.75%
NUE	F	0.74%
CAT	B	0.74%
KLAC	D	0.64%
ANET	B	0.62%
OFG	C	0.59%
EOG	D	0.58%
HCA	B	0.57%
TMHC	A	0.57%
OMF	D	0.53%
PCAR	D	0.53%
CAH	C	0.53%
ARCH	F	0.53%
BCC	B	0.5%
COST	B	0.47%
PVH	F	0.46%
TGT	C	0.45%
HRB	C	0.45%
M	F	0.45%
AZO	D	0.45%
ORI	B	0.44%
COLL	C	0.43%
TJX	B	0.43%
SLM	D	0.42%
NWS	D	0.41%
ALSN	B	0.4%
GIII	C	0.4%
KELYA	D	0.4%
SIG	C	0.38%
WFRD	F	0.38%
AMAL	B	0.38%
ANDE	D	0.37%
UFPI	C	0.35%
WRB	C	0.34%
RDN	C	0.34%
EIG	C	0.34%
SCS	D	0.34%
FULT	D	0.34%
KMB	D	0.33%
FBP	C	0.33%
CBOE	C	0.32%
PRDO	D	0.31%
PRI	B	0.31%
GFF	D	0.3%
AMKR	F	0.3%
SKX	D	0.3%
ASC	D	0.29%
NMIH	B	0.29%
EAT	A	0.29%
TK	C	0.29%
CRM	D	0.29%
MLKN	D	0.28%
TNK	F	0.28%
WSM	D	0.28%
SIGA	D	0.27%
ACT	B	0.27%
UNM	B	0.27%
NTB	C	0.26%
CNO	B	0.26%
JBL	D	0.25%
ASO	C	0.25%
AYI	B	0.25%
WTTR	D	0.25%
NSIT	D	0.25%
IBOC	D	0.25%
MTH	A	0.24%
TPC	C	0.24%
HP	F	0.24%
CAL	F	0.23%
PFBC	D	0.23%
MSM	D	0.23%
SRCE	C	0.23%
STNG	D	0.23%
EVR	A	0.23%
CLF	F	0.23%
CPAY	B	0.22%
PR	F	0.22%
EWBC	D	0.22%
CFG	C	0.22%
MBIN	D	0.22%
ATKR	F	0.22%
KD	D	0.21%
GNW	B	0.21%
MUR	F	0.21%
FNF	B	0.21%
CTRA	D	0.21%
SXC	F	0.21%
MHO	B	0.21%
DBX	D	0.21%
CENTA	F	0.21%
TOL	B	0.21%
TEX	F	0.21%
CHRD	F	0.21%
STLD	F	0.21%
DHI	B	0.21%
STT	A	0.21%
EQH	C	0.21%
CATY	C	0.21%
CASH	B	0.2%
DINO	F	0.2%
AAL	D	0.2%
CPF	B	0.2%
AX	D	0.2%
GMS	D	0.2%
THO	D	0.2%
BLD	D	0.2%
CACC	F	0.2%
EME	B	0.2%
ESGR	D	0.19%
RS	D	0.19%
NR	D	0.19%
VGR	B	0.19%
OMI	D	0.19%
PLAB	F	0.19%
AMWD	D	0.19%
RL	C	0.19%
AGO	C	0.19%
BBWI	F	0.19%
SKYW	C	0.19%
ATGE	C	0.19%
ZEUS	F	0.19%
CNC	D	0.19%
LEN	B	0.18%
DHT	D	0.18%
SCHL	D	0.18%
DKS	D	0.18%
CVCO	A	0.18%
REVG	D	0.18%
PUMP	D	0.18%
PKG	B	0.18%
IMKTA	D	0.18%
DLX	D	0.17%
BELFB	B	0.17%
VIRT	C	0.17%
TNL	D	0.17%
BLX	C	0.17%
AIT	A	0.17%
CLW	F	0.17%
VCTR	B	0.17%
CRC	C	0.17%
CALM	A	0.17%
COOP	C	0.17%
JEF	B	0.17%
DOX	C	0.16%
HCC	F	0.16%
OZK	D	0.16%
R	A	0.16%
WMK	C	0.16%
AMRX	B	0.16%
GAP	F	0.16%
SCSC	D	0.16%
RRC	D	0.16%
SM	F	0.16%
CMC	D	0.16%
VNT	F	0.16%
CR	C	0.16%
CRBG	D	0.16%
ENS	D	0.16%
DESP	C	0.15%
BV	C	0.15%
URBN	F	0.15%
INSW	D	0.15%
PLUS	A	0.15%
LPG	F	0.15%
KBH	A	0.15%
ARW	C	0.15%
WABC	D	0.15%
SNA	C	0.15%
NVR	B	0.15%
MUSA	D	0.15%
TILE	B	0.15%
CNOB	B	0.15%
HWKN	C	0.15%
PATK	B	0.15%
FTI	D	0.15%
ETH	D	0.14%
DNOW	D	0.14%
MOH	D	0.14%
PFGC	B	0.14%
FCF	C	0.14%
SPOK	C	0.14%
AN	D	0.14%
ODP	F	0.14%
FIX	B	0.14%
IESC	C	0.14%
QCRH	B	0.14%
AEO	F	0.14%
OVV	F	0.14%
OLN	D	0.14%
PHIN	B	0.14%
ESAB	C	0.14%
TPR	C	0.14%
NAT	D	0.14%
WCC	D	0.13%
ROCK	D	0.13%
MRC	D	0.13%
JELD	D	0.13%
TNET	F	0.13%
YETI	D	0.13%
CNXN	B	0.13%
CHCO	B	0.13%
FLWS	F	0.13%
KTB	B	0.13%
MATX	B	0.12%
WNC	F	0.12%
CSTM	F	0.12%
BBW	C	0.12%
WLK	D	0.12%
PFSI	C	0.12%
SSD	D	0.12%
CTSH	C	0.12%
KNTK	B	0.12%
NTAP	D	0.12%
CEIX	D	0.12%
GL	C	0.12%
CVLT	B	0.12%
TPH	C	0.12%
REX	D	0.12%
EXPE	C	0.12%
NXST	D	0.11%
GPC	D	0.11%
SWKS	D	0.11%
RES	D	0.11%
DAKT	D	0.11%
NMRK	A	0.11%
PTVE	D	0.11%
AZZ	D	0.11%
SFL	F	0.11%
BRY	F	0.11%
SANM	D	0.11%
RAMP	F	0.11%
FOR	C	0.11%
LYB	D	0.11%
OXM	F	0.11%
JOE	C	0.11%
NAVI	C	0.1%
PH	B	0.1%
WGO	D	0.1%
EXEL	C	0.1%
WHD	C	0.1%
MOG.A	B	0.1%
SPTN	C	0.1%
BLDR	C	0.1%
AGX	B	0.1%
BXC	D	0.1%
STBA	B	0.1%
MBUU	D	0.1%
GPOR	D	0.1%
BTU	D	0.1%
MTDR	F	0.1%
HAFC	C	0.1%
MTUS	F	0.1%
WEX	C	0.1%
SAIA	D	0.1%
COKE	C	0.1%
ARCB	D	0.09%
QLYS	F	0.09%
BUSE	C	0.09%
BOKF	B	0.09%
APOG	B	0.09%
CVBF	D	0.09%
DXPE	C	0.09%
CIVI	F	0.09%
GNK	D	0.09%
CNM	F	0.09%
SFBS	B	0.09%
EXP	B	0.09%
IIIN	D	0.09%
SD	D	0.09%
LRN	B	0.09%
CNX	B	0.09%
AGCO	D	0.09%
PSMT	B	0.08%
CSL	B	0.08%
MCY	D	0.08%
PLPC	D	0.08%
AHCO	C	0.08%
JWN	C	0.08%
ACCO	C	0.08%
OSUR	D	0.08%
WSFS	D	0.08%
IDT	C	0.08%
TBBK	B	0.08%
PBF	F	0.08%
LPLA	D	0.08%
NOG	D	0.07%
BHLB	B	0.07%
STRL	B	0.07%
WU	F	0.07%
IDCC	B	0.07%
MYRG	F	0.07%
BECN	D	0.07%
AXL	F	0.07%
BBSI	B	0.07%
SFNC	B	0.07%
CNA	C	0.07%
UVV	D	0.07%
KSS	F	0.07%
GES	F	0.07%
AGM	D	0.07%
WOR	D	0.07%
LZB	C	0.07%
HVT	D	0.07%
MOV	F	0.07%
CRVL	B	0.07%
GRBK	B	0.07%
WMS	D	0.07%
SBSI	B	0.07%
VFC	C	0.06%
NX	F	0.06%
XRX	D	0.06%
GRNT	D	0.06%
ZIMV	F	0.06%
HBI	B	0.06%
OSBC	C	0.06%
CG	D	0.06%
RNR	C	0.06%
LBRT	D	0.06%
CASY	D	0.06%
TMUS	C	0.06%
UA	D	0.06%
LOPE	D	0.06%
CACI	B	0.06%
RGP	F	0.06%
APG	D	0.06%
CPRX	A	0.06%
LEN	B	0.06%
TCBI	B	0.05%
ANIP	D	0.05%
BKE	B	0.05%
BC	C	0.05%
DECK	C	0.05%
SCVL	B	0.05%
YELP	F	0.05%
PPC	D	0.05%
TNC	F	0.05%
MGY	C	0.05%
CBT	B	0.05%
HPE	D	0.05%
PSTG	F	0.05%
HELE	D	0.05%
AMSF	C	0.05%
LQDT	B	0.05%
JBI	F	0.05%
LYTS	C	0.05%
DOLE	A	0.05%
STRA	F	0.04%
HEES	D	0.04%
MEDP	F	0.04%
SXI	C	0.04%
MCRI	C	0.04%
TRST	C	0.04%
BKU	C	0.04%
CHE	C	0.04%
BRKL	C	0.04%
HNI	C	0.04%
SHOO	B	0.04%
GOLF	D	0.04%
MCFT	F	0.04%
AMG	C	0.04%
CTS	D	0.04%
VTRS	D	0.04%
KFRC	D	0.04%
ALKS	C	0.04%
DDS	F	0.04%
ROST	C	0.04%
FARO	D	0.03%
SMP	C	0.03%
BYD	C	0.03%
GPK	B	0.03%
THRY	D	0.03%
ATEN	C	0.03%
HOV	C	0.03%
BERY	B	0.03%
HSTM	C	0.03%
ULTA	D	0.03%
KMT	B	0.03%
AMRK	C	0.03%
EPAC	B	0.03%
THFF	B	0.03%
DBI	F	0.03%
PRLB	F	0.03%
EPM	C	0.03%
FELE	C	0.03%
CCRN	F	0.03%
INMD	D	0.03%
JACK	F	0.03%
HIMS	D	0.02%
FFIV	B	0.02%
GPI	B	0.02%
MAN	C	0.02%
JAZZ	D	0.02%

VFMF Underweight 155 Positions Relative to NACP

Symbol	Grade	Weight
AAPL	C	-5.03%
MSFT	C	-4.63%
ACN	C	-3.58%
UBER	C	-2.29%
TSLA	C	-2.22%
UNH	C	-1.95%
PANW	D	-1.81%
MU	F	-1.75%
V	C	-1.53%
INTC	F	-1.52%
JNJ	C	-1.44%
MA	B	-1.4%
KO	C	-0.99%
BAC	D	-0.99%
PEP	C	-0.92%
TMO	B	-0.83%
ABT	C	-0.69%
GE	B	-0.69%
NEE	C	-0.66%
DHR	B	-0.64%
PFE	C	-0.62%
UNP	C	-0.56%
SPGI	B	-0.55%
ELV	C	-0.47%
MS	D	-0.47%
HON	D	-0.46%
C	C	-0.45%
EA	D	-0.45%
T	C	-0.45%
ETN	C	-0.44%
MDT	C	-0.42%
PLD	C	-0.42%
BSX	B	-0.41%
ADP	B	-0.4%
BA	F	-0.38%
MELI	B	-0.38%
DE	B	-0.36%
MDLZ	B	-0.36%
NKE	D	-0.36%
BMY	C	-0.35%
UPS	D	-0.35%
SO	B	-0.35%
SCHW	D	-0.33%
DUK	C	-0.32%
EQIX	C	-0.29%
TT	B	-0.29%
NOC	B	-0.29%
PNC	B	-0.27%
CVS	D	-0.27%
PYPL	B	-0.27%
ITW	C	-0.27%
MCO	B	-0.26%
AON	B	-0.24%
CSX	D	-0.24%
BDX	D	-0.23%
TFC	C	-0.22%
NEM	B	-0.22%
EMR	D	-0.22%
ECL	B	-0.21%
NSC	C	-0.2%
WMB	B	-0.19%
AEP	C	-0.19%
MAR	C	-0.19%
OKE	B	-0.18%
SRE	C	-0.18%
TRV	C	-0.18%
CCI	C	-0.18%
D	C	-0.18%
JCI	B	-0.17%
HLT	B	-0.17%
LNG	C	-0.16%
IPG	C	-0.16%
LHX	C	-0.16%
KMI	B	-0.15%
HES	F	-0.15%
EXC	C	-0.15%
CMI	C	-0.15%
EW	F	-0.15%
F	F	-0.15%
DD	B	-0.14%
PEG	B	-0.14%
A	C	-0.14%
HWM	B	-0.14%
OTIS	C	-0.13%
AME	C	-0.13%
VRSK	D	-0.13%
VMC	D	-0.12%
IR	C	-0.12%
MLM	D	-0.12%
XEL	B	-0.12%
ED	C	-0.12%
KHC	C	-0.12%
AVB	B	-0.11%
ROK	D	-0.11%
VST	C	-0.11%
EIX	C	-0.11%
ADM	D	-0.11%
RMD	C	-0.11%
XYL	C	-0.11%
HSY	C	-0.1%
DVN	F	-0.1%
WEC	C	-0.1%
PPG	D	-0.1%
BIIB	F	-0.1%
PCG	C	-0.09%
TROW	D	-0.09%
IFF	B	-0.09%
DAL	C	-0.09%
APTV	D	-0.08%
SBAC	C	-0.08%
PPL	C	-0.08%
FE	C	-0.08%
ETR	B	-0.08%
NDAQ	A	-0.08%
DTE	C	-0.08%
ES	C	-0.08%
NRG	C	-0.07%
LII	B	-0.07%
EXPD	C	-0.07%
CMS	C	-0.07%
TSN	C	-0.07%
CLX	C	-0.07%
BAH	C	-0.07%
BAX	C	-0.07%
K	B	-0.07%
ILMN	C	-0.07%
HBAN	B	-0.07%
RF	B	-0.07%
SWK	B	-0.06%
LUV	C	-0.06%
DOC	C	-0.06%
DGX	B	-0.06%
HUBB	B	-0.06%
TXT	D	-0.06%
SJM	C	-0.05%
AMH	C	-0.05%
NI	B	-0.05%
ACM	B	-0.05%
NDSN	C	-0.05%
UAL	C	-0.05%
LNT	B	-0.05%
AES	C	-0.05%
JBHT	D	-0.05%
CPB	C	-0.04%
REG	C	-0.04%
LECO	F	-0.04%
TFX	C	-0.04%
ALB	D	-0.04%
EMN	B	-0.04%
USFD	B	-0.04%
WBA	F	-0.03%
SCCO	D	-0.03%
MOS	F	-0.03%
HRL	C	-0.03%
CNH	D	-0.03%