Impact Shares NAACP Minority Empowerment ETF
ALTAR
Score™
4.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
24.1x P/Sales
ratio
2.7x
P/BV
ratio
3.5x Div.
yield
1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
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.

FUND BASICS
Category US Equities
Fund Sponsor Impact Shares
Website impactetfs.org
Inception date Jul 18, 2018
Assets (mns) $4
Currency USD
Expense ratio 75 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Principles-based
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 174
Wgt avg mkt cap (mns) $425,352
Large cap (>$10bn) 91.1%
Mid cap ($2-10bn) 8.3%
Small cap (<$2bn) 0.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AMAZON.COM INC 6.8 %
MICROSOFT CORP 6.4 %
APPLE INC 5.7 %
JOHNSON & JOHNSON 2.7 %
ALPHABET INC. CLASS A 2.7 %
ALPHABET INC. CLASS C 2.7 %
VISA INC-CLASS A SHARES 2.2 %
JPMORGAN CHASE & CO 2.2 %
PROCTER & GAMBLE CO/THE 2.0 %
ENPHASE ENERGY INC 1.9 %
Total 35.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.6 %
IRELAND 1.2 %
BRITAIN 1.0 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-2.1% 15.7% -- -- 7.3%

Market Correlations
versus... Beta R-squared
S&P500 0.97 99%
MSCI EAFE 1.01 88%
MSCI Emg. Mkts. 0.79 77%

Technical Indicators
Recent close $23.53
30d moving avg. $21.94
Annualized volatility 21.3%
Short interest (ETF) 1.7%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 2.54%
ADV underlying (mns) $134,655

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Impact Shares NAACP Minority Empowerment ETF ETF based on the alternatives' overlap in portfolio holdings with NACP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: NACP Expense: 75 bp ALTAR Score™: 4.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH NACP
Ticker Fund
Name
Overlap1
vs NACP
(%)
Expense
ratio
(bp)
Savings
vs NACP
(bp)
ALTAR
Score™
(%)
ALTAR
vs NACP
(%)
WOMN Impact Shares YWCA Women's Empowerment ETF 67.5 75 0 4.5 +0.1
OEF iShares S&P 100 ETF 64.7 20 55 4.9 +0.4
SNPE Xtrackers S&P 500 ESG ETF 63.4 11 64 5.2 +0.7
IQSU IQ Candriam ESG US Equity ETF 63.2 9 66 5.3 +0.8
XLG Invesco S&P 500 Top 50 ETF 62.6 20 55 4.7 +0.2
IWL iShares Russell Top 200 ETF 60.7 15 60 5.1 +0.7
PBP Invesco S&P 500 BuyWrite ETF 60.0 49 26 5.1 +0.6
MGC Vanguard Mega Cap Index Fund 59.8 7 68 5.3 +0.8
HSPX Global X S&P 500 Covered Call ETF 59.0 65 10 4.9 +0.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 58.2 20 55 5.0 +0.5
ESG FlexShares STOXX US ESG Impact Index Fund 57.2 32 43 5.2 +0.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 57.0 20 55 5.5 +1.0
SPXE ProShares S&P 500 Ex-Energy ETF 56.8 27 48 5.4 +0.9
SPXN ProShares S&P 500 Ex-Financials ETF 56.5 27 48 5.1 +0.6
SPLG SPDR Portfolio Large Cap ETF 55.4 3 72 5.5 +1.0
IVV iShares Core S&P 500 ETF 55.4 4 71 5.5 +1.0
SPY SPDR S&P 500 ETF Trust 55.4 9 66 5.4 +0.9
VOO VANGUARD S&P 500 ETF 55.0 3 72 5.5 +1.0
RECS Columbia Research Enhanced Core ETF 54.8 15 60 5.6 +1.2
SPXV ProShares S&P 500 Ex-Health Care ETF 54.7 27 48 5.1 +0.7
ESGU iShares MSCI USA ESG Optimized ETF 53.9 15 60 5.1 +0.7
VV Vanguard Large-Cap Index Fund 53.8 4 71 5.3 +0.9
SPYG SPDR Portfolio S&P 500 Growth ETF 53.7 4 71 4.5 0.0
VOOG Vanguard S&P 500 Growth ETF 53.7 10 65 4.4 -0.0
PBUS Invesco PureBeta MSCI USA ETF 53.7 4 71 5.3 +0.9
IVW iShares S&P 500 Growth ETF 53.7 18 57 4.3 -0.1
EPS WisdomTree U.S. Earnings 500 Fund 53.6 8 67 6.4 +1.9
BBUS JP Morgan Betabuilders U.S. Equity ETF 53.0 2 73 5.4 +0.9
CATH Global X S&P 500 Catholic Values Custom ETF 52.2 29 46 5.3 +0.8
IUSG iShares Core S&P US Growth ETF 52.2 4 71 4.5 +0.0
ESGV Vanguard ESG U.S. Stock ETF 52.2 12 63 5.3 +0.8
XOUT GraniteShares XOUT U.S. Large Cap ETF 52.0 60 15 4.6 +0.1
SCHX Schwab U.S. Large-Cap ETF 51.8 3 72 5.4 +0.9
SPTM SPDR Portfolio Total Stock Market ETF 51.4 3 72 5.6 +1.1
MMTM SPDR S&P 1500 Momentum Tilt ETF 51.1 12 63 5.1 +0.6
DSI iShares MSCI KLD 400 Social ETF 51.0 25 50 5.2 +0.8
DLN WisdomTree U.S. LargeCap Dividend Fund 50.8 28 47 6.3 +1.8
IWB iShares Russell 1000 ETF 50.5 15 60 5.2 +0.8
IWY iShares Russell Top 200 Growth ETF 50.4 20 55 4.3 -0.1
SCHK Schwab 1000 Index ETF 50.2 5 70 5.3 +0.9
SUSL iShares ESG MSCI USA Leaders ETF 50.0 10 65 5.4 +0.9
FVAL Fidelity Value Factor ETF 50.0 29 46 8.0 +3.5
VONE Vanguard Russell 1000 ETF 50.0 8 67 5.3 +0.9
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 49.9 10 65 5.4 +1.0
SPXT ProShares S&P 500 Ex-Technology ETF 49.9 27 48 5.6 +1.1
DIVB iShares U.S. Dividend & Buyback ETF 49.8 25 50 6.3 +1.9
IYY iShares Dow Jones U.S. ETF 49.6 20 55 5.2 +0.7
IWF iShares Russell 1000 Growth ETF 49.3 19 56 4.3 -0.1
VONG Vanguard Russell 1000 Growth Index Fund 49.3 8 67 4.4 -0.0
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 49.0 49 26 4.2 -0.3
DGRO iShares Core Dividend Growth ETF 47.8 8 67 6.4 +1.9
SCHB Schwab U.S. Broad Market ETF 47.8 3 72 5.3 +0.8
IWV iShares Russell 3000 ETF 47.6 20 55 5.1 +0.6
ITOT iShares Core S&P Total U.S. Stock Market ETF 47.6 3 72 5.2 +0.7
VTI Vanguard Total Stock Market Index Fund 47.6 3 72 5.2 +0.7
SFY SoFi Select 500 ETF 47.3 0 75 5.3 +0.8
VTHR Vanguard Russell 3000 Index Fund 47.3 10 65 5.2 +0.7
DTD WisdomTree U.S.Total Dividend Fund 47.1 28 47 6.5 +2.0
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 47.1 15 60 6.2 +1.8
EXT WisdomTree U.S. Total Earnings Fund 47.1 28 47 5.7 +1.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 47.0 25 50 6.4 +1.9
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 46.7 12 63 4.9 +0.4
QUS SPDR MSCI USA StrategicFactors ETF 46.6 15 60 5.8 +1.3
RAFE PIMCO RAFI ESG U.S. ETF 46.6 29 46 7.5 +3.0
IUS Invesco Strategic US ETF 46.4 19 56 6.2 +1.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 46.4 9 66 5.6 +1.1
VUG Vanguard Growth Index Fund 46.1 4 71 4.2 -0.3
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 46.1 29 46 4.3 -0.1
TMFC Motley Fool 100 Index ETF 45.8 50 25 4.0 -0.5
SCHV Schwab U.S. Large-Cap Value ETF 45.5 4 71 6.9 +2.4
RFDA RiverFront Dynamic US Dividend Advantage ETF 45.4 52 23 5.9 +1.5
IOO iShares Global 100 ETF 44.9 40 35 4.9 +0.4
MGK Vanguard Mega Cap Growth ETF 44.9 7 68 4.3 -0.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 44.5 25 50 6.4 +1.9
FDRR Fidelity Dividend ETF for Rising Rates 44.1 29 46 6.9 +2.4
VEGN US Vegan Climate ETF 43.7 60 15 5.3 +0.8
FQAL Fidelity Quality Factor ETF 43.2 29 46 5.4 +1.0
JHML John Hancock Multifactor Large Cap ETF 43.0 34 41 5.5 +1.0
PRF Invesco FTSE RAFI US 1000 ETF 42.8 39 36 6.6 +2.2
KRMA Global X Conscious Companies ETF 42.4 43 32 5.2 +0.8
VTV Vanguard Value Index Fund 42.0 4 71 7.1 +2.7
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 42.0 19 56 5.6 +1.1
SCHG Schwab U.S. Large-Cap Growth ETF 41.9 4 71 4.3 -0.2
ACIO Aptus Collared Income Opportunity ETF 41.5 79 -4 4.5 +0.1
JQUA JPMorgan U.S. Quality Factor ETF 41.4 12 63 5.2 +0.7
ESGG FlexShares STOXX Global ESG Impact Index Fund 41.3 42 33 5.6 +1.1
AVUS Avantis U.S. Equity ETF 40.9 15 60 5.7 +1.3
RFFC RiverFront Dynamic US Flex-Cap ETF 40.9 52 23 5.4 +0.9
FDLO Fidelity Low Volatility Factor ETF 40.8 29 46 5.2 +0.7
EQWL Invesco Russell Top 200 Equal Weight ETF 40.2 25 50 5.9 +1.4
QLC FlexShares US Quality Large Cap Index Fund 40.1 32 43 5.5 +1.1
IETC iShares Evolved U.S. Technology ETF 39.9 18 57 4.1 -0.3
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 39.6 25 50 6.1 +1.6
DYNF BlackRock U.S. Equity Factor Rotation ETF 39.3 30 45 6.6 +2.2
MGV Vanguard Mega Cap Value ETF 39.2 7 68 7.0 +2.5
SPYV SPDR Portfolio S&P 500 Value ETF 39.0 4 71 7.2 +2.7
IVE iShares S&P 500 Value ETF 39.0 18 57 7.0 +2.6
VOOV Vanguard S&P 500 Value ETF 38.8 15 60 7.1 +2.6
IWD iShares Russell 1000 Value ETF 38.6 19 56 6.9 +2.4
IGM iShares North American Tech ETF 38.5 46 29 4.0 -0.4

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Impact Shares NAACP Minority Empowerment ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.4 %
Divided by: Fwd. P/BV 3.3 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 4.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.45 CATEGORY
AVERAGE
1.53
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.