Impact Shares launched its first ETF in 2018 and the funds have done well so far, despite the market volatility, Powell said. The ETFs that were launched already, along with the Morningstar descriptions, are the following:
• Impact shares NAACP Minority Empowerment ETF (NACP). NACP tracks the Morningstar Minority Empowerment Index, which is designed to provide exposure to U.S. companies with strong racial and ethnic diversity policies in place, empowering employees irrespective of their race or nationality.
• Impact Shares Women’s Empowerment ETF (WOMN). WOMN tracks the Morningstar Women’s Empowerment Index, which is designed to provide exposure to companies worldwide with strong policies and practices in support of women’s empowerment and gender equality.
• Impact Shares Sustainable Development Goals Global Equity ETF (SDGA). SDGA tracks the Morningstar Societal Development Index, which is designed to provide exposure to companies worldwide with strong policies and practices relative to the United Nations Sustainable Development Goals that are actively engaged in the world’s poorest countries known also as the 47 least developed countries.
• Impact Shares Affordable Housing MBS ETF (OWNS) invests in mortgage-backed securities that are backed by pools of mortgage loans made to minority families, low- and moderate-income families, and families that live in persistent poverty areas. OWNS seeks to invest in the dignity of homeownership for these traditionally underserved communities.