ETF Hearsay: ImpactShares files for new Affordable Housing ETF

Some fund fees go back to partnering charity.

Impact Shares Affordable Housing MBS ETF

Ticker: OWNS
Exchange: NYSE arca
Expense ratio: 0.30%
Original filing date: December 23, 2020
Effective date: March 08, 2021
Listing Date: TBD
Active: Yes
Index: Not applicable (ACTIVELY MANAGED)

CUSIP: TBD

Adviser: Impact Shares, Corp.
Sub-Adviser: Community Capital Management, Inc.

Investment Objective:

The primary investment objective of the Impact Shares Affordable Housing MBS ETF is to generate a level of current income via a portfolio comprised of investment grade mortgage-backed pass-through securities issued and/or guaranteed by U.S. government agencies.

Investment Strategy:

The Fund will invest primarily in mortgage-backed securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae.

The Fund will invest in mortgage-backed securities backed by pools of mortgage loans made to minority families, low-income families, and/or families that live in persistent poverty areas.

At least 51% of the loans underlying the mortgage-backed securities in which the Fund invests will have been made to low- and moderate-income borrowers.

These loans include home loans in census tracts where:

- more than 50% of the population is non-white and at least 40% of the population is living at or below the poverty line (defined as a racially or ethnically concentrated areas of poverty or “R/ECAP”)

- loans in counties where for more than 20 years 20% or more of the population has lived in poverty (defined as a persistent poverty county or “PPC”)

- loans to minority borrowers or loans originated in a census tract where more than 50% of the population is a minority (also referred to as a majority-minority census tract.)

The Fund may also invest in mortgage-backed securities backed by pools of loans sourced from non-traditional originators including Community Development Financial Institutions (CDFIs) and minority-owned banks.

Constituents: TBD

Prospectus is here.

OTHER IMPACT SHARES ETFs:

As of Dec. 30, 2020:

WOMN

Impact Shares YWCA Women's Empowerment ETF ($12.3M AUM - August 24, 2018)

NACP

Impact Shares NAACP Minority Empowerment ETF ($19.3M AUM - July 18, 2018)

SDGA

Impact Shares Sustainable Development Goals Global Equity ETF ($3.8M AUM - September 20, 2018)