NACP
Impact Shares NAACP Minority Empowerment ETF
The Impact Shares NAACP Minority Empowerment ETF tracks an index of US large- and midcap companies selected and weighted based on social criteria as defined by the NAACP.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
54.8 M
ASSETS UNDER MGMT
49 bp
EXPENSES
Fund Basics
| Fund sponsor | Impact Shares |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 12, 2018 |
| Assets (mns) | $55 |
| Expense ratio | 49 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Principles-based |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| AMAZON.COM INC | 5.3 % |
| NVIDIA CORP | 5.2 % |
| APPLE INC | 5.1 % |
| MICROSOFT CORP | 4.9 % |
| PALO ALTO NETWORKS INC | 4.4 % |
| META PLATFORMS INC | 4.1 % |
| TESLA MOTORS INC | 3.6 % |
| ACCENTURE PLC-CL A | 3.6 % |
| INTL BUSINESS MACHINES CORP | 3.4 % |
| QUALCOMM INC | 3.1 % |
Constituent Breakdown
| Number of holdings | 200 |
| Herfindahl-Hirschman Index | 220 |
| Wgt avg mkt cap (mns) | $800,964 |
| Large cap (>$10bn) | 99.9% |
| Mid cap ($2-10bn) | 0.2% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.7% |
| Emerging mkts. | 0.3% |
Country Exposure
 |
UNITED STATES | 96.4 % |
 |
IRELAND | 5.2 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 28.1% | 33.9% | 25.0% | 10.0% | 16.3% | -- | 15.1% | Volatility | 13.0% | 12.7% | 14.4% | 17.8% | 19.9% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.00 | 98% |
| MSCI EAFE | 0.84 | 68% |
| MSCI Emg Mkts | 0.64 | 39% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.18% |
| ADV of underlying (mns) | $150,377 |
Technical Indicators
| Recent close | $42.13 |
| 30d moving avg. | $42.97 |
| Annualized volatility | 17.8% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 1.6% |
| Short interest (underlying) | 1.4% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. NACP |
Expenses vs. NACP |
ALTAR Score™ vs. NACP |
|---|---|---|---|---|
| USCL | iShares Climate Conscious & Transition MSCI USA ETF | 65.0% | -41 bp | 0.0% |
| USCA | Xtrackers MSCI USA Climate Action Equity ETF | 64.2% | -42 bp | 0.0% |
| JUST | Goldman Sachs JUST U.S. Large Cap Equity ETF | 60.5% | -29 bp | -0.1% |
| MGC | Vanguard Mega Cap ETF | 60.1% | -42 bp | -0.2% |
| OEF | iShares S&P 100 ETF | 60.0% | -29 bp | -0.3% |
| IWL | iShares Russell Top 200 ETF | 59.0% | -34 bp | -0.3% |
| GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 57.8% | -42 bp | -0.1% |
| SNPE | Xtrackers S&P 500 ESG ETF | 57.8% | -39 bp | +0.1% |
| VOO | Vanguard S&P 500 ETF | 57.5% | -46 bp | +0.0% |
| IVV | iShares Core S&P 500 ETF | 57.5% | -46 bp | +0.0% |
Risk and Returns: NACP vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/20/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
NACP
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
NACP
5.0%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.6%. NACP's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places NACP in the 41st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
NACPSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| NACP (49 bp) Percentile rank | 54 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| NACP | 49.0 | 18.0 | 67 |
| Peer Avg. | 37.3 | 15.0 | 52.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .