Impact Shares, a 501(c)(3) nonprofit ETF platform, has launched the Impact Shares NAACP Minority Empowerment ETF (NACP) in partnership with civil rights organisation the National Association for the Advancement of Coloured People (NAACP).
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 colour present us with an opportune time to offer our members another way to advance our mission,” says 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,” says Ethan Powell, CEO of Impact Shares.
