NACP - Impact Shares NAACP ...

Impact Shares NAACP Minority Empowerment ETF

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.