DALLAS--(BUSINESS WIRE)--Impact Shares, the first 501(c)(3) nonprofit exchange-traded fund (ETF) platform, is pleased to announce the launch of the Impact Shares NAACP Minority Empowerment ETF (NYSE Arca: NACP) in partnership with the National Association for the Advancement of Colored People (NAACP), the nation’s premier civil rights organization.
NACP is designed to reflect NAACP’s values of justice, equality and inclusivity, and invests in large-cap companies that empower minorities including hiring, pay and promotion practices as well as their products, services and supply chains. The fund seeks investment results that generally correspond to the price and yield performance of the Morningstar Minority Empowerment Index, built in collaboration with Morningstar and Sustainalytics.
“The ongoing social issues affecting communities of color present us with an opportune time to offer our members another way to advance our mission,” said Marvin Owens, Senior Director of the NAACP Economic Department. “The NACP ETF is the first of its kind in that investors can allocate money to the companies that have a track record of supporting the NAACP’s vision for corporate America and our constituents. Unlike other ETFs where operating profits are captured by a Wall Street investment firm, Impact Shares will direct its net advisory profits from this ETF back to the NAACP and to our mission as a non-profit.”
Impact Shares, itself a 501(c)(3) charity, will donate the net advisory proceeds it receives from each ETF it sponsors back to the collaborating partner nonprofit, creating meaningful engagement with corporate America and providing the investing public with more targeted, credible social-impact investing options.
“As investors seek more opportunities to use their wealth and consumption to encourage corporate America to align with their social priorities, we’re pleased to partner with the NAACP to make this vision a reality,” said Ethan Powell, CEO of Impact Shares.
About Impact Shares
Impact Shares is an ETF issuer and investment manager that is creating a new and innovative platform for clients seeking maximum social impact with market returns. Impact Shares' goal is to build a capital markets bridge between leading non-profits, investors and corporate America to direct capital and social engagement on societal priorities. Impact Shares is a tax-exempt non-profit organization under Section 501(c)(3) of the Internal Revenue Code. For more information about Impact Shares visit impactetfs.org.
About the NAACP:
Founded in 1909, the NAACP is the nation's oldest and largest nonpartisan civil rights organization. Its members throughout the United States and the world are the premier advocates for civil rights in their communities. You can read more about the NAACP’s work and our six “Game Changer” issue areas at www.naacp.org.
Statements in this communication may include forward-looking information and/or may be based on various assumptions. The forward-looking statements and other views or opinions expressed herein are made as of the date of this publication. Actual future results or occurrences may differ significantly from those anticipated and there is no guarantee that any particular outcome will come to pass. The statements made herein are subject to change at any time. Impact Shares disclaims any obligation to update or revise any statements or views expressed herein.
Carefully consider the Fund’s investment objective, risk factors, and expenses before investing. This and additional information can be found in the Impact Shares statutory and summary prospectus, which may be obtained by calling 855-267-3837, or by visiting ImpactShares.com. Read the prospectus carefully before investing.
Investing involves risk, including the possible loss of principal. Narrowly focused investments and investments in smaller companies typically exhibit higher volatility. Investments in commodities are subject to higher volatility than more traditional investments. The Fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund’s gains or losses. The Fund is non-diversified.
Impact Shares NAACP Minority Empowerment ETF is distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Impact Shares Corp., the Investment Adviser for the Fund.