Impact Shares NAACP Minority Empowerment ETF
ALTAR
Score™
4.8% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
24.2x P/Sales
ratio
3.0x
P/BV
ratio
4.1x Div.
yield
1.6%


  • 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) $21
Currency USD
Expense ratio 49 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) $562,391
Large cap (>$10bn) 97.4%
Mid cap ($2-10bn) 1.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 6.9 %
AMAZON.COM INC 5.3 %
MICROSOFT CORP 5.1 %
JPMORGAN CHASE & CO 2.9 %
JOHNSON & JOHNSON 2.8 %
ALPHABET INC. CLASS A 2.8 %
ALPHABET INC. CLASS C 2.7 %
VISA INC-CLASS A SHARES 2.3 %
PROCTER & GAMBLE CO/THE 2.2 %
WALT DISNEY CO/THE 2.0 %
Total 35.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.8 %
IRELAND 0.7 %
BRITAIN 0.6 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
26.0% 26.0% -- -- 17.8%

Market Correlations
versus... Beta R-squared
S&P500 1.00 99%
MSCI EAFE 0.93 85%
MSCI Emg. Mkts. 0.77 70%

Technical Indicators
Recent close $29.02
30d moving avg. $28.74
Annualized volatility 21.1%
Short interest (ETF) 2.7%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 8
Turnover 1.1%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $120,712

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 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: 49 bp ALTAR Score™: 4.8%


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 65.1 75 -26 3.6 -1.1
ESGV Vanguard ESG U.S. Stock ETF 61.5 12 37 4.6 -0.2
EFIV SPDR S&P 500 ESG ETF 60.2 10 39 4.7 -0.1
SNPE Xtrackers S&P 500 ESG ETF 60.1 10 39 4.7 -0.1
OEF iShares S&P 100 ETF 59.7 20 29 4.3 -0.5
ESG FlexShares STOXX US ESG Impact Index Fund 58.4 32 17 4.6 -0.2
XLG Invesco S&P 500 Top 50 ETF 58.1 20 29 4.2 -0.6
JCTR JPMorgan Carbon Transition U.S. Equity ETF 57.1 15 34 4.7 -0.0
MGC Vanguard Mega Cap Index Fund 57.0 7 42 4.7 -0.1
IWL iShares Russell Top 200 ETF 56.2 15 34 4.5 -0.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 55.9 20 29 4.7 -0.1
BKLC BNY Mellon US Large Cap Core Equity ETF 55.1 0 49 4.6 -0.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 54.3 20 29 4.9 +0.1
PBP Invesco S&P 500 BuyWrite ETF 53.5 49 0 4.4 -0.4
SPXE ProShares S&P 500 Ex-Energy ETF 53.5 27 22 4.7 -0.1
DLN WisdomTree U.S. LargeCap Dividend Fund 53.1 28 21 6.2 +1.4
XYLG Global X S&P 500 Covered Call & Growth ETF 53.0 60 -11 4.4 -0.3
VOO VANGUARD S&P 500 ETF 52.6 3 46 4.9 +0.1
IQSU IQ Candriam ESG US Equity ETF 52.5 9 40 4.6 -0.2
SPY SPDR S&P 500 ETF Trust 52.5 9 40 4.8 0.0
SPLG SPDR Portfolio Large Cap ETF 52.4 3 46 4.8 +0.1
IVV iShares Core S&P 500 ETF 52.4 3 46 4.8 +0.1
SPXN ProShares S&P 500 Ex-Financials ETF 52.2 27 22 4.5 -0.3
ESGU iShares MSCI USA ESG Optimized ETF 51.6 15 34 4.5 -0.3
EPS WisdomTree U.S. Earnings 500 Fund 51.6 8 41 6.0 +1.2
DIVB iShares U.S. Dividend & Buyback ETF 51.5 25 24 5.9 +1.1
SPXV ProShares S&P 500 Ex-Health Care ETF 51.2 27 22 4.4 -0.4
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 51.1 7 42 4.6 -0.1
SUSL iShares ESG MSCI USA Leaders ETF 50.5 10 39 4.9 +0.1
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 50.5 10 39 4.9 +0.1
VOOG Vanguard S&P 500 Growth ETF 50.3 10 39 4.1 -0.7
VTV Vanguard Value Index Fund 49.8 4 45 6.5 +1.8
BBUS JP Morgan Betabuilders U.S. Equity ETF 49.6 2 47 4.7 -0.1
PBUS Invesco PureBeta MSCI USA ETF 49.5 4 45 4.7 -0.1
XOUT GraniteShares XOUT U.S. Large Cap ETF 49.3 60 -11 3.7 -1.1
VV Vanguard Large-Cap Index Fund 49.3 4 45 4.7 -0.1
CATH Global X S&P 500 Catholic Values Custom ETF 49.2 29 20 4.7 -0.1
DTD WisdomTree U.S.Total Dividend Fund 49.2 28 21 6.3 +1.5
RAFE PIMCO RAFI ESG U.S. ETF 48.7 30 19 6.7 +1.9
SPTM SPDR Portfolio Total Stock Market ETF 48.1 3 46 4.9 +0.1
SCHX Schwab U.S. Large-Cap ETF 48.0 3 46 4.6 -0.1
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 47.7 12 37 5.0 +0.3
DGRO iShares Core Dividend Growth ETF 47.5 8 41 6.0 +1.2
SCHK Schwab 1000 Index ETF 46.9 5 44 4.7 -0.1
IWB iShares Russell 1000 ETF 46.9 15 34 4.6 -0.2
SPXT ProShares S&P 500 Ex-Technology ETF 46.6 27 22 4.9 +0.1
RECS Columbia Research Enhanced Core ETF 46.5 15 34 5.2 +0.4
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 46.4 49 0 3.5 -1.2
IYY iShares Dow Jones U.S. ETF 46.3 20 29 4.5 -0.3
SCHV Schwab U.S. Large-Cap Value ETF 46.2 4 45 6.1 +1.3
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 46.2 15 34 5.8 +1.0
FVAL Fidelity Value Factor ETF 46.1 29 20 6.9 +2.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 46.0 12 37 4.1 -0.6
MGV Vanguard Mega Cap Value ETF 45.8 7 42 6.4 +1.7
SPYV SPDR Portfolio S&P 500 Value ETF 45.6 4 45 6.4 +1.6
SFY SoFi Select 500 ETF 45.5 0 49 4.6 -0.1
IVE iShares S&P 500 Value ETF 45.5 18 31 6.3 +1.5
DSI iShares MSCI KLD 400 Social ETF 45.5 25 24 4.7 -0.1
IWX iShares Russell Top 200 Value ETF 45.4 20 29 6.0 +1.3
KRMA Global X Conscious Companies ETF 45.1 43 6 4.9 +0.2
VTHR Vanguard Russell 3000 Index Fund 45.0 10 39 4.5 -0.3
SPYG SPDR Portfolio S&P 500 Growth ETF 45.0 4 45 3.8 -1.0
IVW iShares S&P 500 Growth ETF 45.0 18 31 3.7 -1.1
FDRR Fidelity Dividend ETF for Rising Rates 44.8 29 20 6.0 +1.3
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 44.7 9 40 4.9 +0.1
QUS SPDR MSCI USA StrategicFactors ETF 44.6 15 34 5.3 +0.5
IOO iShares Global 100 ETF 44.3 40 9 4.4 -0.4
VONV Vanguard Russell 1000 Value Index Fund 44.1 8 41 6.1 +1.4
FNDX Schwab Fundamental U.S. Large Co. Index ETF 43.9 25 24 5.8 +1.0
IWY iShares Russell Top 200 Growth ETF 43.8 20 29 3.7 -1.0
IUSG iShares Core S&P US Growth ETF 43.8 4 45 3.8 -1.0
IWV iShares Russell 3000 ETF 43.8 20 29 4.4 -0.4
SCHB Schwab U.S. Broad Market ETF 43.6 3 46 4.5 -0.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 43.3 3 46 4.5 -0.3
RESP WisdomTree US ESG Fund of Benef Interest 43.3 28 21 5.2 +0.4
VONE Vanguard Russell 1000 ETF 43.2 8 41 4.6 -0.1
VOOV Vanguard S&P 500 Value ETF 43.2 10 39 6.6 +1.8
IUSV iShares Core S&P U.S. Value ETF 43.1 4 45 6.4 +1.6
DFAU Dimensional US Core Equity Market ETF 42.8 12 37 4.7 -0.0
PRF Invesco FTSE RAFI US 1000 ETF 42.6 39 10 5.8 +1.1
VTI Vanguard Total Stock Market Index Fund 42.4 3 46 4.5 -0.3
IWD iShares Russell 1000 Value ETF 42.1 19 30 6.0 +1.3
ACIO Aptus Collared Income Opportunity ETF 41.9 79 -30 3.9 -0.9
HIPR Direxion High Growth ETF 41.9 40 9 4.0 -0.8
MGK Vanguard Mega Cap Growth ETF 41.4 7 42 3.8 -1.0
FQAL Fidelity Quality Factor ETF 41.4 29 20 5.1 +0.3
EQWL Invesco Russell Top 200 Equal Weight ETF 41.3 25 24 5.6 +0.9
JHML John Hancock Multifactor Large Cap ETF 40.8 29 20 4.9 +0.1
IWF iShares Russell 1000 Growth ETF 40.8 19 30 3.6 -1.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 40.7 25 24 5.7 +0.9
OUSA O'Shares FTSE US Quality Dividend ETF 40.7 48 1 5.5 +0.8
VONG Vanguard Russell 1000 Growth Index Fund 40.3 8 41 3.7 -1.1
QLC FlexShares US Quality Large Cap Index Fund 40.0 32 17 4.5 -0.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 39.8 19 30 5.4 +0.6
VYM Vanguard High Dividend Yield Index ETF 39.7 6 43 6.6 +1.9
DGRW WisdomTree U.S. Quality Dividend Growth Fund 39.5 28 21 6.1 +1.3
ESGG FlexShares STOXX Global ESG Impact Index Fund 39.5 42 7 4.7 -0.1
IUS Invesco Strategic US ETF 39.4 19 30 5.5 +0.7

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:

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™


Calculation of ALTAR Score™
Avg. Return on Equity 18.9 %
Divided by: Fwd. P/BV 3.6 x
Less: Expense ratio 49 bp
Equals: ALTAR Score 4.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.43 CATEGORY
AVERAGE
1.49
 
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.