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Performance quoted is past performance and is not a guarantee of future results. Current performance may be lower or higher than performance data quoted. An investor’s investment return and principal value will fluctuate, so that your shares when redeemed may be worth more or less than your initial cost. For standard and month-end performance and holdings information for each fund, please click the respective link: NACP and WOMN.

Holdings are subject to change. There is no assurance securities mentioned remain in or out of the fund. Impact Shares Corp, the advisor to the Funds, intends to make a charitable donation of Impact Shares’ fund fees after the deduction of operating expense and a reserve for working capital to a Fund’s relevant Partner Nonprofit. The funds are not sponsored, endorsed, or promoted by NAACP or YWCA.

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Impact Shares ETFs are distributed by Foreside Fund Services, LLC, which is not affiliated with Impact Shares Corp., the Investment Adviser for the Funds, the YWCA, NAACP, or Community Capital Management. Community Capital Management is the sub-adviser to OWNS. Nor is Foreside Fund Services, LLC affiliated with Morningstar or Sustainalytics. Additional information about Foreside Fund Services, LLC is available on FINRA’s BrokerCheck.

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Carefully consider the Funds investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in Impact Shares’ statutory and summary prospectus, which may be obtained by calling (844) 954-7733, or by visiting www.impactetfs.org. Read the prospectuses carefully before investing.

Investing involves risk, including the possible loss of principal. 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 individually redeemed from the Fund. Brokerage commissions will reduce returns. Investments in commodities are subject to higher volatility than more traditional investments. Narrowly focused investments and investments in smaller companies typically exhibit higher volatility. The Funds may invest in derivatives, which are often more volatile than other investments and may magnify the Funds’ gains or losses. The Funds are non-diversified.