Dallas-based Impact Shares has filed for its first two exchange-traded funds being developed by The YWCA Metropolitan Chicago and The National Association for the Advancement of Colored People.
The Minority Empowerment ETF and the Women’s Empowerment ETF are expected to launch in early 2018, according to Impact Shares.
Impact Shares said the NAACP Minority Empowerment ETF will invest in companies that empower minorities via hiring, pay, and promotion practices along with their products and services. The fund’s ticker symbol is NYSE Arca: NACP)
The Minority Empowerment ETF and the Women’s Empowerment ETF are expected to launch in early 2018, according to Impact Shares.
“NACP offers socially conscious investors the opportunity to allocate capital to incentivize companies to change their business practices and, in some cases, their products and services, to promote minority communities in the United States,” Marvin Owens, senior director of the NAACP Economic Department, said in a release.
The Impact Shares YWCA Women’s Empowerment ETF (NYSE Arca: WOMN), will hold stocks of businesses that empower women, including those that promote women’s health and advancement initiatives.
“WOMN, a collaboration with index provider Equileap, offers an investment solution that will look for companies that are leaders in empowering women both in and out of the workplace,” Dorri McWhorter, CEO of YWCA Metropolitan Chicago, said in the release.
Impact Shares is an ETF issuer and investment manager that created a new and innovative platform for clients wanting to maximize social impact with market returns.
An ETF is a marketable security that tracks an index, a commodity, bonds, or a basket of assets similar to the way an index fund does. An ETF trades simliarly to a common stock on a stock exchange. Likewise, ETF price fluctuates during the day as they are bought and sold.
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