Market Overview

Impact Shares YWCA Women's Empowerment ETF Debuts on the NYSE


YWCA Partners with First-Ever Nonprofit ETF Sponsor Impact Shares to
Create Product to Further Mission of 160-year-old Organization

Impact investing has taken another step forward in the world of exchange
traded funds (ETFs). Today, nonprofit ETF sponsor Impact Shares
introduces the Impact Shares YWCA Women's Empowerment ETF (NYSE:WOMN).
The new ETF allows investors to deploy capital in companies that have
aligned their business practices with gender-equality standards while
also powering the future efforts of YWCA, an organization that has been
a leader in women's advocacy for the last 160 years.

Impact Shares, with backing from The Rockefeller Foundation's Zero Gap
Portfolio, has set out to partner with leading nonprofit organizations
who want to leverage capital markets to further their missions and
increase their social impact. The Zero Gap portfolio is focused on
building new financial products and markets which can channel critical
capital toward the world's most challenging problems. This partnership
with YWCA to launch WOMN follows on the heels of the recent debut of the Impact
Shares NAACP Minority Empowerment ETF (NACP)
and an anticipated
launch in collaboration with the United Nations Capital
Development Fund next month.

"The WOMN ETF puts the power to empower women in everyone's hands. It
allows us to leverage the capital markets to further our 160-year
mission to eliminate racism and empower women. The entire YWCA network,
made up of more than 200 local associations, is excited about this
innovative product that provides the investor the opportunity to
generate both financial and social returns, and helps fuel the future of
our work," said Alejandra Y. Castillo, CEO of YWCA USA.

WOMN is designed to track the Morningstar Women's Empowerment Index,
built with the gender equality data and scoring methodology of Equileap,
which represents 200 companies culled from 1200 of the largest
U.S.-listed publicly traded companies based on each company's Gender
Equality Score, which is evaluated under a set of 19 gender equality

Impact Shares, itself a 501(c)(3) charity, will donate the net advisory
proceeds it receives from each ETF it sponsors back to the collaborating
nonprofit partner, creating meaningful engagement with corporate America
and providing the investing public with more targeted, credible
social-impact investing options.

"We believe this is an important step in the evolution of women's
advocacy. YWCA has established themselves as the leading women's
organization and the ETF provides them with the tools needed to expand
their impact into the private sector and help companies demonstrate
leadership on issues impacting women. We are excited to partner with
YWCA in providing investors access to a basket of companies that have
strong policies and practices in support of women's empowerment and
gender equality," said Ethan Powell, CEO of Impact Shares.

About Impact Shares

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


YWCA USA is on a mission to eliminate racism, empower women, stand up
for social justice, help families, and strengthen communities. As one of
the oldest and largest women's organizations in the nation, YWCA USA
represents over 200 YWCAs in 46 states and the District of Columbia,
serving over 2 million women, girls, and their families each year.

YWCA has been at the forefront of the most pressing social movements for
160 years — from voting rights to civil rights, from affordable housing
to pay equity, from violence prevention to health care reform. Today, we
combine programming and advocacy to generate institutional change in
three key areas: racial justice and civil rights, empowerment and
economic advancement of women and girls, and health and safety of women
and girls. Learn more:

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.

The information in the prospectus (or Statement of Additional
Information) for the Impact Shares Sustainable Development Goals in
Least Developed Countries ETF is not complete and may be changed. Impact
Shares may not sell this ETF until the registration statement filed with
the Securities and Exchange Commission is effective. The prospectus is
not an offer to sell the Impact Shares Sustainable Development Goals in
Least Developed Countries ETF and is not soliciting an offer to buy the
ETF in any state where the offer or sale is not permitted.

Carefully consider the Funds' 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. Read the prospectus carefully before

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

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