Impact Shares has announced the launch of its inaugural ETF, the Impact Shares NAACP Minority Empowerment ETF (NACP US) on NYSE Arca.
NACP is the first ETF from Impact Shares who is planning more funds that hone in on single ESG issues.
Introduced in partnership with civil rights organization the National Association for the Advancement of Colored People (NAACP), the fund invests in US large- and mid-cap equities from firms that empower minorities including hiring, pay and promotion practices as well as their products, services and supply chains.
The concept was originally developed with support from The Rockefeller Foundation’s Zero Gap initiative.
The underlying reference for the ETF is the Morningstar Minority Empowerment Index, built in collaboration with Morningstar and ESG analytics firm Sustainalytics.