Impact Shares NAACP Minority Empowerment ETF (NACP) Valuation
NACP valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 26.0 trailing earnings
- Forward P/E
- 18.8 analyst estimates
- Price / sales
- 3.50
- Price / book
- 5.14
- EV / EBITDA
- 17.3
- Earnings yield
- 3.85% inverse of P/E
- Dividend yield
- 1.22% of the holdings
- Return on equity
- 19.8% combined
- Net margin
- 13.5% combined
- Beta
- 1.20 weighted, vs S&P 500
NACP valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| NACP | 26.0 | 18.8 | 3.50 | 5.14 | 1.22% | 19.8% | 13.5% | 2.5% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
NACP valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 37.3% | 30.5 | 20.0 | 7.10 | 8.88 | 0.77% | 29.1% |
| Consumer Cyclical | 11.2% | 34.9 | 28.1 | 3.11 | 6.60 | 0.34% | 18.9% |
| Financial Services | 10.8% | 16.9 | 14.6 | 4.21 | 2.97 | 1.59% | 17.5% |
| Healthcare | 10.4% | 36.0 | 16.0 | 1.83 | 4.26 | 2.10% | 11.8% |
| Communication Services | 8.5% | 18.3 | 19.5 | 5.37 | 5.27 | 0.84% | 28.8% |
| Industrials | 6.7% | 25.6 | 20.8 | 2.46 | 6.14 | 1.33% | 24.0% |
| Energy | 5.5% | 20.5 | 12.8 | 1.77 | 2.67 | 2.29% | 13.0% |
| Consumer Defensive | 3.4% | 28.3 | 23.5 | 1.50 | 7.21 | 2.14% | 25.5% |
| Utilities | 2.8% | 18.9 | 15.2 | 2.73 | 2.04 | 3.24% | 10.8% |
| Basic Materials | 1.3% | 25.0 | 16.9 | 3.79 | 3.72 | 1.13% | 14.9% |
| Real Estate | 1.1% | 47.8 | 44.1 | 10.10 | 3.48 | 2.28% | 7.3% |
NACP earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How NACP weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
NACP largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AMZN | Amazon.com, Inc. | 5.12% | 20.1 | 23.6 | 3.5 | — | 6.69% |
| MSFT | Microsoft Corporation | 4.99% | 29.5 | 25.1 | 11.8 | 0.74% | 4.45% |
| NVDA | NVIDIA Corporation | 4.88% | 27.1 | 24.9 | 17.1 | 0.47% | 4.74% |
| AMD | Advanced Micro Devices, Inc. | 4.11% | 134.9 | 39.5 | 20.9 | — | 0.80% |
| GOOGL | Alphabet Inc. | 4.06% | 17.1 | 22.8 | 9.3 | 0.26% | 6.24% |
| TSLA | Tesla, Inc. | 4.04% | 328.4 | 158.7 | 13.5 | — | 0.32% |
| META | Meta Platforms, Inc. | 3.49% | 26.7 | 22.1 | 7.9 | 0.30% | 3.43% |
| MU | Micron Technology, Inc. | 3.37% | 11.8 | 7.0 | 7.5 | 0.07% | 7.50% |
| JPM | JPMorgan Chase & Co. | 2.31% | 14.2 | 13.5 | 4.7 | 1.94% | 4.26% |
| CSCO | Cisco Systems, Inc. | 2.09% | 32.2 | 19.8 | 6.7 | 1.56% | 1.70% |
| V | Visa Inc. | 1.94% | 34.3 | 24.0 | 17.0 | 0.67% | 1.49% |
| XOM | Exxon Mobil Corporation | 1.93% | 23.0 | 14.8 | 2.0 | 2.30% | 2.20% |
| INTC | Intel Corporation | 1.85% | — | 63.3 | 8.3 | — | −1.15% |
| PANW | Palo Alto Networks, Inc. | 1.74% | 855.0 | 94.3 | 24.4 | — | 0.05% |
| JNJ | Johnson & Johnson | 1.63% | 38.8 | 21.0 | 6.2 | 2.10% | 1.11% |
| AMAT | Applied Materials, Inc. | 1.55% | 35.3 | 23.4 | 10.5 | 0.52% | 1.15% |
| LRCX | Lam Research Corporation | 1.42% | 45.8 | 33.7 | 14.2 | 0.50% | 0.82% |
| MA | Mastercard Incorporated | 1.33% | 34.0 | 24.2 | 15.4 | 0.56% | 1.03% |
| TXN | Texas Instruments Incorporated | 1.32% | 42.1 | 27.5 | 13.0 | 2.20% | 0.82% |
| WMT | Walmart Inc. | 1.32% | 43.0 | 38.0 | 1.3 | 0.83% | 0.80% |
| ABBV | AbbVie Inc. | 1.29% | 80.6 | 16.4 | 7.8 | 2.42% | 0.42% |
| IBM | International Business Machines Corporation | 1.26% | 20.6 | 17.4 | 3.2 | 2.91% | 1.60% |
| CVX | Chevron Corporation | 1.05% | 21.2 | 15.2 | 2.1 | 3.16% | 1.30% |
| ORCL | Oracle Corporation | 1.05% | 20.1 | 17.8 | 5.4 | 1.56% | 1.37% |
| UNH | UnitedHealth Group Incorporated | 1.02% | 25.8 | 16.6 | 0.8 | 2.31% | 1.04% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About NACP valuation
Adding up its 196 holdings with company data, NACP trades at 26.0 times trailing earnings and 18.8 times analysts' forward estimates, with a price-to-book ratio of 5.14 and a dividend yield of 1.22%. Its earnings yield of 3.85% is 1.48 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 38.5% of the fund and earn 40.1% of its combined profit. By sector, Real Estate is the most expensive at 47.8 times earnings and Financial Services the cheapest at 16.9. Companies that lost money over the past year are 2.5% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 98.9% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: NACP chart, NACP performance, NACP holdings, NACP dividends.
NACP valuation FAQ
What is the P/E ratio of NACP?
Based on its holdings, NACP has a trailing P/E of 26.0 and a forward P/E of 18.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of NACP?
The trailing earnings yield is 3.85% (1 ÷ P/E) and the forward earnings yield 5.33%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is NACP more expensive than the S&P 500?
NACP trades at 26.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.8 and 19.9.
What is the price-to-book ratio of NACP?
The holdings of NACP trade at 5.14 times book value, with a combined return on equity of 19.8%.
Which sector in NACP has the highest P/E?
Real Estate has the highest P/E at 47.8 and Financial Services the lowest at 16.9.