Impact Shares NAACP Minority Empowerment ETF
ALTAR
Score™
4.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
24.3x P/Sales
ratio
2.7x
P/BV
ratio
3.6x 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 12, 2018
Assets (mns) $7
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 173
Wgt avg mkt cap (mns) $469,007
Large cap (>$10bn) 92.0%
Mid cap ($2-10bn) 8.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 6.4 %
AMAZON.COM INC 5.8 %
MICROSOFT CORP 5.6 %
JOHNSON & JOHNSON 2.8 %
ALPHABET INC. CLASS A 2.6 %
ALPHABET INC. CLASS C 2.5 %
VISA INC-CLASS A SHARES 2.3 %
PROCTER & GAMBLE CO/THE 2.3 %
JPMORGAN CHASE & CO 2.2 %
HOME DEPOT INC 2.1 %
Total 34.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.9 %
IRELAND 1.6 %
BRITAIN 1.3 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
6.4% 15.4% -- -- 11.6%

Market Correlations
versus... Beta R-squared
S&P500 0.98 99%
MSCI EAFE 1.00 87%
MSCI Emg. Mkts. 0.74 75%

Technical Indicators
Recent close $25.49
30d moving avg. $24.19
Annualized volatility 20.7%
Short interest (ETF) 2.4%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 5
Turnover 1.8%
Bid/Ask (% of price) 0.50%
ADV underlying (mns) $108,184

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 62.6 75 0 3.9 -0.6
IQSU IQ Candriam ESG US Equity ETF 60.5 9 66 4.9 +0.4
SNPE Xtrackers S&P 500 ESG ETF 60.3 11 64 4.9 +0.4
OEF iShares S&P 100 ETF 60.2 20 55 4.6 +0.1
ESG FlexShares STOXX US ESG Impact Index Fund 59.4 32 43 4.9 +0.4
XLG Invesco S&P 500 Top 50 ETF 58.2 20 55 4.3 -0.2
IWL iShares Russell Top 200 ETF 57.0 15 60 4.8 +0.3
BKLC BNY Mellon US Large Cap Core Equity ETF 56.9 0 75 4.9 +0.4
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 56.7 20 55 4.7 +0.2
MGC Vanguard Mega Cap Index Fund 56.3 7 68 5.0 +0.5
PBP Invesco S&P 500 BuyWrite ETF 55.5 49 26 4.8 +0.3
SPXE ProShares S&P 500 Ex-Energy ETF 55.2 27 48 5.1 +0.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 55.0 20 55 5.1 +0.6
HSPX Global X S&P 500 Covered Call ETF 54.7 65 10 4.7 +0.2
ESGU iShares MSCI USA ESG Optimized ETF 54.1 15 60 4.9 +0.4
SPY SPDR S&P 500 ETF Trust 54.1 9 66 5.2 +0.7
SPLG SPDR Portfolio Large Cap ETF 54.1 3 72 5.2 +0.7
IVV iShares Core S&P 500 ETF 54.0 4 71 5.2 +0.7
SPXN ProShares S&P 500 Ex-Financials ETF 54.0 27 48 4.8 +0.3
VOO VANGUARD S&P 500 ETF 53.7 3 72 5.2 +0.7
EPS WisdomTree U.S. Earnings 500 Fund 53.1 8 67 6.3 +1.8
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 53.1 7 68 5.0 +0.5
DLN WisdomTree U.S. LargeCap Dividend Fund 52.8 28 47 6.3 +1.8
SPXV ProShares S&P 500 Ex-Health Care ETF 52.5 27 48 4.8 +0.3
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 52.2 10 65 5.2 +0.7
SUSL iShares ESG MSCI USA Leaders ETF 52.2 10 65 5.2 +0.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 52.0 2 73 5.1 +0.6
PBUS Invesco PureBeta MSCI USA ETF 51.5 4 71 5.1 +0.6
VV Vanguard Large-Cap Index Fund 51.2 4 71 5.0 +0.5
CATH Global X S&P 500 Catholic Values Custom ETF 51.0 29 46 5.0 +0.5
DIVB iShares U.S. Dividend & Buyback ETF 51.0 25 50 6.4 +1.9
SCHX Schwab U.S. Large-Cap ETF 50.5 3 72 5.1 +0.6
SPTM SPDR Portfolio Total Stock Market ETF 50.5 3 72 5.3 +0.8
RAFE PIMCO RAFI ESG U.S. ETF 50.4 29 46 7.5 +3.0
ESGV Vanguard ESG U.S. Stock ETF 49.4 12 63 4.9 +0.4
FVAL Fidelity Value Factor ETF 49.4 29 46 7.7 +3.2
SPYG SPDR Portfolio S&P 500 Growth ETF 49.3 4 71 4.2 -0.4
VOOG Vanguard S&P 500 Growth ETF 49.3 10 65 4.1 -0.4
XOUT GraniteShares XOUT U.S. Large Cap ETF 49.3 60 15 4.0 -0.6
IVW iShares S&P 500 Growth ETF 49.3 18 57 4.0 -0.5
SCHK Schwab 1000 Index ETF 49.1 5 70 5.1 +0.6
DTD WisdomTree U.S.Total Dividend Fund 49.0 28 47 6.5 +2.0
VONE Vanguard Russell 1000 ETF 48.9 8 67 5.0 +0.5
IWB iShares Russell 1000 ETF 48.7 15 60 4.9 +0.4
IYY iShares Dow Jones U.S. ETF 48.4 20 55 5.0 +0.5
SCHV Schwab U.S. Large-Cap Value ETF 48.4 4 71 7.1 +2.6
SPXT ProShares S&P 500 Ex-Technology ETF 48.2 27 48 5.4 +0.9
DSI iShares MSCI KLD 400 Social ETF 48.2 25 50 5.0 +0.5
DGRO iShares Core Dividend Growth ETF 48.2 8 67 6.5 +2.0
IUSG iShares Core S&P US Growth ETF 48.0 4 71 4.2 -0.3
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 47.9 12 63 4.6 +0.1
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 47.7 49 26 3.8 -0.7
RECS Columbia Research Enhanced Core ETF 47.2 15 60 5.4 +0.9
MMTM SPDR S&P 1500 Momentum Tilt ETF 47.1 12 63 4.4 -0.1
SFY SoFi Select 500 ETF 46.9 0 75 5.0 +0.5
FNDX Schwab Fundamental U.S. Large Co. Index ETF 46.7 25 50 6.2 +1.7
SCHB Schwab U.S. Broad Market ETF 46.5 3 72 5.0 +0.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 46.5 15 60 6.0 +1.5
QUS SPDR MSCI USA StrategicFactors ETF 46.4 15 60 5.7 +1.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 46.3 3 72 5.0 +0.5
IWV iShares Russell 3000 ETF 46.1 20 55 4.8 +0.3
VTHR Vanguard Russell 3000 Index Fund 46.1 10 65 4.9 +0.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 46.1 9 66 5.3 +0.8
VTV Vanguard Value Index Fund 44.9 4 71 7.3 +2.8
VTI Vanguard Total Stock Market Index Fund 44.8 3 72 4.9 +0.4
IWY iShares Russell Top 200 Growth ETF 44.5 20 55 3.7 -0.8
FDRR Fidelity Dividend ETF for Rising Rates 44.4 29 46 6.8 +2.3
FNDB Schwab Fundamental U.S. Broad Market Index ETF 43.9 25 50 6.2 +1.7
IOO iShares Global 100 ETF 43.7 40 35 4.6 +0.1
IWX iShares Russell Top 200 Value ETF 43.3 20 55 6.7 +2.2
PRF Invesco FTSE RAFI US 1000 ETF 43.3 39 36 6.6 +2.1
MGK Vanguard Mega Cap Growth ETF 43.2 7 68 3.9 -0.6
VONV Vanguard Russell 1000 Value Index Fund 43.1 8 67 6.9 +2.4
IWD iShares Russell 1000 Value ETF 43.1 19 56 6.8 +2.3
ACIO Aptus Collared Income Opportunity ETF 42.9 79 -4 4.1 -0.4
KRMA Global X Conscious Companies ETF 42.6 43 32 5.0 +0.5
JHML John Hancock Multifactor Large Cap ETF 42.6 29 46 5.4 +0.9
VONG Vanguard Russell 1000 Growth Index Fund 42.4 8 67 3.7 -0.8
IWF iShares Russell 1000 Growth ETF 42.3 19 56 3.6 -1.0
FQAL Fidelity Quality Factor ETF 42.2 29 46 5.4 +0.9
IUS Invesco Strategic US ETF 41.7 19 56 6.3 +1.8
VUG Vanguard Growth Index Fund 41.7 4 71 3.8 -0.7
MGV Vanguard Mega Cap Value ETF 41.6 7 68 7.2 +2.7
EXT WisdomTree U.S. Total Earnings Fund 41.2 28 47 5.0 +0.5
ESGG FlexShares STOXX Global ESG Impact Index Fund 40.8 42 33 5.3 +0.8
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 40.7 19 56 5.9 +1.4
FDLO Fidelity Low Volatility Factor ETF 40.7 29 46 5.0 +0.5
TMFC Motley Fool 100 Index ETF 40.4 50 25 3.3 -1.2
EQWL Invesco Russell Top 200 Equal Weight ETF 40.4 25 50 6.0 +1.5
AVUS Avantis U.S. Equity ETF 40.2 15 60 5.5 +1.0
JQUA JPMorgan U.S. Quality Factor ETF 40.1 12 63 5.2 +0.7
SPYV SPDR Portfolio S&P 500 Value ETF 39.9 4 71 7.3 +2.8
IVE iShares S&P 500 Value ETF 39.9 18 57 7.1 +2.6
VOOV Vanguard S&P 500 Value ETF 39.9 15 60 7.1 +2.6
QLC FlexShares US Quality Large Cap Index Fund 39.7 32 43 5.2 +0.7
OUSA O'Shares FTSE US Quality Dividend ETF 39.2 48 27 5.5 +1.0
IUSV iShares Core S&P U.S. Value ETF 39.1 4 71 7.3 +2.8
VEGN US Vegan Climate ETF 38.8 60 15 5.0 +0.5
FDMO Fidelity Momentum Factor ETF 38.5 29 46 3.7 -0.8
AFLG First Trust Active Factor Large Cap ETF 38.3 55 20 5.3 +0.8

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 17.6 %
Divided by: Fwd. P/BV 3.4 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
1.52
 
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.