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Impact Shares Adds Former NAACP Senior Director Marvin Owens as Chief Engagement Officer

Impact Shares, the first 501(c)(3) nonprofit exchange-traded fund platform, is pleased to welcome Marvin Owens, former senior director of economic development at the National Association for the Advancement of Colored People (NAACP), to its team as Chief Engagement Officer.

Amid the ongoing fight for racial equality in the U.S., the Impact Shares NAACP Minority Empowerment ETF (NYSE: NACP) has come to the forefront as an important tool for investors to promote racial equity in the private sector. The Rockefeller Foundation has provided a $3 million operating credit line to Impact Shares to help support Impact Shares’ mission, including NACP. According to Morningstar, there are over 500 ESG-oriented ETFs on the market, and Barron’s states NACP is the first and only fund focused exclusively on supporting people of color and addressing racial equality1. Created in collaboration with the NAACP, the fund 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.

“This is a watershed moment for investing in social advocacy,” notes Powell. “Under Marvin’s leadership and with the ongoing financial support from partners such as The Rockefeller Foundation, investors will continue to have the opportunity to build long-term engagement on key social issues such as racial equality, and ultimately make meaningful change in the private sector.”

To help make NACP more accessible to investors, Impact Shares has agreed to reimburse NACP for certain expenses excluded from Impact Shares' advisory fee in order to reduce NACP's net expense ratio from 0.75% to 0.49% (see below for complete expense information). Impact Shares donates the net advisory proceeds it receives from the ETF back to the NAACP. The fund has generated an 11.18% return year to-date through September 30, 2020 and a 32.11% cumulative return since inception (based on NAV).

Complete standard performance data for NACP as of 9/30/20 is as follows (NAV/MKT price) 20.92%/21.51% for 1-year period; 13.48%/13.66% annualized since inception. The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investors shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. For performance data current to the most recent month end, please call 844-GIVE-ETF.

“The capital markets are a powerful tool for investors to raise their voice on social issues,” adds Owens. “I look forward to working more closely with investors to challenge corporate America to follow through on their public commitments and make tangible changes to stand against racial discrimination.” 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. For more information on the fund, visit:

Impact Shares has contractually agreed to reimburse NACP for certain expenses excluded from the unitary advisory fee through at least October 28, 2021. This contract may not be terminated without the action or consent of the Fund’s Board of Trustees. The following table shows the total operating expenses that investors in NACP pay each year as a percentage of the value of an investment in NACP:

Management Fee


Distribution and Service (12b-1) Fees


Other Expenses


Total Annual Fund Operating Expenses


Waivers and Reimbursements


Total Annual Operating Expenses after Waivers and Reimbursements


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 nonprofits, investors and corporate America to direct capital and social engagement on societal priorities. Impact Shares is a tax-exempt nonprofit organization under Section 501(c)(3) of the Internal Revenue Code. For more information about Impact Shares, visit

About The Rockefeller Foundation

The Rockefeller Foundation advances new frontiers of science, data, and innovation to solve global challenges related to health, food, power, and economic mobility. As a science-driven philanthropy focused on building collaborative relationships with partners and grantees, The Rockefeller Foundation seeks to inspire and foster large-scale human impact that promotes the well-being of humanity throughout the world by identifying and accelerating breakthrough solutions, ideas, and conversations. For more information, sign up for our newsletter at and follow us on Twitter @RockefellerFdn.

Shares of any ETF are bought and sold at market price (not NAV) may trade at a discount or premium to NAV and are not traditionally redeemed from the Fund. Brokerage commissions will reduce returns.

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.

Risk Information:

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.

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 Read the prospectus carefully before investing.

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.

1 Morningstar, “The Number of Funds Considering ESG Explodes in 2019”, March 30, 2020. Barron’s, “This Tiny ETF Is Fighting Racism and Beating the Market”, June 19, 2020


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Impact Shares

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