Impact Shares Sustainable Development Goals Global Equity ETF

C000205095 Fund Overview

Impact Shares Sustainable Development Goals Global Equity ETF is a US ETF managed by Tidal Trust III, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: Tidal Trust III
• Category: Money Market
• Assets under management: $6.41M
• 1-year return: -16.3%
• SEC CIK: 0001722388
• SEC series ID: S000063230
• Share class ID: C000205095

C000205095 Investment Objective and Strategy

Impact Shares Sustainable Development Goals Global Equity ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Tidal Trust III.

Investment objective

The Impact Shares Sustainable Development Goals Global Equity ETF (the “Fund”) seeks investment results that, before fees and expenses, track the performance of the Morningstar ® Societal Development Index (the “Underlying Index”).

Principal investment strategy

The Fund will, under normal circumstances, invest at least 80% of its total assets plus any borrowings for investment purposes (the 80% basket) in component securities of the Underlying Index (Component Securities). The Fund may invest the remaining 20% of its total assets (the 20% basket) in securities and instruments not included in the Underlying Index, but which the Adviser believes will help the Fund track the Underlying Index. For example, the Fund may invest in securities that are not components of the Underlying Index to reflect various corporate actions (such as mergers) and other changes in the Underlying Index (such as reconstitutions, additions and deletions). Under normal market conditions, the Fund will invest in at least three countries, including the United States, and at least 40% of its net assets will be invested in the securities of non-U.S.

companies, which may be in both developed and emerging market countries. The Adviser currently considers a company to be a non-U.S. company if: (i) at least 50% of the companys assets are located outside of the United States; (ii) at least 50% of the companys revenues are generated outside of the United States; (iii) the company is organized or maintains its principal place of business outside of the United States; or (iv) its securities are traded principally outside the United States. A country is considered to be an emerging market country by the Adviser if the country is classified by the World Bank as low income, middle income or upper middle income, or, by the International Monetary Fund as a non-advanced country. The Fund may invest in securities of any type (including equity and debt securities) and of companies of any market capitalization (including small- and mid-capitalization companies), market sector or industry, but expects to invest primarily in equity securities of U.S.

companies and foreign (non-U.S.) companies in both developed and emerging markets. The Fund may use the 20% basket to invest in securities issued by other investment companies, including other exchange-traded funds. The Fund also may invest in warrants and may also use derivatives, primarily swaps (including equity, variance and volatility swaps), options and futures contracts on securities, interest rates, non-physical commodities and/or currencies, within the 20% basket to track the Underlying Index and as substitutes for direct investments the Fund can make. The Fund may also use derivatives such as swaps, options (including options on futures), futures, and foreign currency transactions (e.g., foreign currency swaps, futures and forwards) to hedge various investments for risk management and speculative purposes.

In addition, the Funds 20% basket may be invested in cash and cash equivalents, including shares of money market funds advised by the Adviser or its affiliates. Unlike many investment companies, the Fund does not try to beat the index it tracks. The Fund uses a passive management strategy designed to track the total return performance of the Underlying Index. The Adviser may use a representative sampling indexing strategy to manage the Fund. Representative sampling is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to the Underlying Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability, leverage and price to earnings ratios) and liquidity measures similar to those of the Underlying Index.

The Fund may or may not hold all of the securities in the Underlying Index. Tracking error is the difference between the performance (return) of the Funds portfolio and that of the Underlying Index. The Adviser expects that, over time, the Funds tracking error will not exceed 5%. Funds that employ a representative sampling strategy may incur tracking error risk to a greater extent than funds that seek to replicate an index. The Fund will concentrate its investments in a particular industry or group of industries to approximately the same extent as the Underlying Index is so concentrated. The Fund is a non-diversified fund as defined in the Investment Company Act of 1940, as amended (the 1940 Act), but intends to adhere to the diversification requirements applicable to regulated investment companies (RICs) under Subchapter M of the Internal Revenue Code of 1986, as amended (the Code).

The Fund is not intended to be a complete investment program. The Underlying Index is designed to measure the performance of large and mid-capitalization companies globally that (i) display a commitment to the UNs Sustainable Development Goals, (ii) adhere to the principles of the UN Global Compact, (iii) display a commitment to reducing poverty and supporting economic development globally and (iv) have exposure to countries with low levels of socioeconomic development. The Underlying Index is intended to exhibit risk and return characteristics similar to those of the Morningstar Global Markets Large-Mid Index (the Parent Index), as described below. The Underlying Index is constructed using a rules based methodology to select companies with specific characteristics (described below) from the Parent Index.

The Parent Index is a free-float market-cap weighted index composed of the equity securities of publicly-traded companies encompassing the top 97% of stocks by market capitalization across 46 countries including both developed and emerging markets. To be eligible for inclusion in the Parent Index, companies must meet specific trading frequency, U.S. Dollar trading volume and turnover, and free-float market capitalization requirements. The Underlying Index will provide exposure to both developed and emerging markets. Morningstar, Inc. (Morningstar or the Index Provider) constructs the Underlying Index using company level indicators, scores, and indicator relevance weightings from Sustainalytics, the Funds ESG research provider, that include certain social criteria identified by the United Nations Capital Development Fund (UNCDF or the Partner Nonprofit), to measure (i) commitment to the UNs Sustainable Development Goals, 1 (ii) adherence to the principles of the UN Global Compact, 2 (iii) commitment to reducing poverty and supporting economic development globally and (iv) exposure to countries with low levels of socioeconomic development for each company within the Parent Index (a companys Societal Development Score).

Morningstar determines a companys exposure to countries with low levels of socioeconomic development using a quantitative scale based on the percentage of a companys revenue identified as coming from countries defined as low income or lower middle income by the World Bank or as a Least Developed Country by the United Nations, excluding countries that are classified as developed or emerging by Morningstar Indexes, and increases the companys Societal Development Score accordingly. In addition to the Societal Development Score, Sustainalytics assigns each company an Overall ESG Score which reflects its assessment of a companys overall ESG preparedness and performance relative to other companies in the same global industry peer group. The Overall ESG Score is comprised of a companys numerical scores for environmental, social and governance criteria as determined according to Sustainalytics proprietary methodology.

After excluding those companies that Sustainalytics determines (i) have products involved in the following activities: adult entertainment, alcoholic beverages, controversial weapons, gambling, military contracting weapons, nuclear energy and small arms, or tobacco, (ii) have a detrimental controversy score for incidents related to a company involving one or more of the following matters: business ethics, governance, public policy, employee relations, social supply chain, society and community, operations, or environmental supply chain, (iii) are not compliant with the principles of the UN Global Compact, or (iv) have a below average Overall ESG Score relative to its global industry peers; the 200 highest scoring companies (after applying the optimized weighting methodology discussed below) are selected by Morningstar as the final underlying index components.

The Underlying Index is constructed by Morningstar using an optimized free-float market cap weighting methodology. Under this methodology, Morningstar uses a quantitative process that is designed to determine optimal weights for securities to maximize exposure to companies with higher rankings as to global economic development, while maintaining an Underlying Index that exhibits risk and return characteristics similar to those of the Parent Index. Morningstar determines the weighting of each security in the Underlying Index using the following variables: Societal Development Score, market capitalization, maximum and minimum weightings by security, sector and region. Underlying Index constituents are subject to a maximum 5% per company weighting. The Underlying Index will provide exposure to both developed and emerging markets and is expected to contain approximately 200 securities, but this number may change.

If a company in the Underlying Index has acted in a manner inconsistent with the selection criteria of the Underlying Index, Morningstar may, in its discretion, after consulting with Sustainalytics, exclude the company from the Underlying Index between reconstitution periods. Morningstar may also make adjustments to the Underlying Index in accordance with its internal guidelines to reflect extraordinary corporate events (e.g. mergers and acquisitions, spin-offs, bankruptcies, insolvencies, and liquidations). The Underlying Index is rebalanced quarterly and reconstituted utilizing the rules-based methodology described above annually. Rebalancing refers to the process of adjusting the weights of the constituent securities in the Underlying Index in accordance with its optimized weighting methodology in response to changes in stock value and market capitalization.

Reconstitution refers to the process of changing the constituent securities in the Underlying Index so that securities that no longer meet the criteria for the Underlying Index are excluded and new securities that do meet those criteria are included. The initial composition of the Underlying Index, as well as any ongoing adjustment, is based on thirty-two separate social indicators used in determining the Societal Development Score that narrows the universe of companies included in the Parent Index. Each of these social indicators addresses an issue that has historically been important to the UNCDF and falls within one of the following five groups: 1. Business Ethics a. Bribery & Corruption Policy: Assesses the quality of the companys policy to combat bribery and corruption. b. Bribery & Corruption Programs: Assesses the quality of the companys programs to combat bribery and corruption.

c. Global Compact Signatory: Denotes whether a company is a signatory to the United Nations Global Compact. d. Human Rights Policy: Assesses the strength of the companys commitment to respect human rights in within its sphere of influence. e. Renewable Energy Programs: Assesses whether the company has taken initiatives to increase the use of renewable energy. 2. Employment Practices a. HIV/AIDS Programs: Assesses the quality of a companys programs to address HIV/AIDS among its employees. b. Collective Bargaining Agreements: Assesses the extent that the companys employees are covered by collective bargaining agreements. c. Freedom of Association Policy: Assesses the quality of a companys freedom of association and collective bargaining policy. d. Working Conditions Policy: Assesses whether the company has a formal policy on working hours and/or minimum wages.

C000205095 Performance

Total returns for C000205095 (as of 2026-10-01), from SEC filings.

C000205095 Risk Information

Risk metrics for C000205095, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 19.8%

C000205095 Costs and Fees

C000205095 costs about $75 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.75%
• Gross expense ratio: 0.75%
• Portfolio turnover: 30%
• Brokerage commissions: 6.32 bps of average net assets (SEC N-CEN)

C000205095 Cashflows

Over the 12 months to 2022-12, Impact Shares Sustainable Development Goals Global Equity ETF had net inflows of $1.63M, from monthly SEC N-PORT filings.

C000205095 Debt Constituents

No individual debt constituents are reported in Impact Shares Sustainable Development Goals Global Equity ETF's latest SEC N-PORT filing.

C000205095 Prospectus and SEC Filings

Official Impact Shares Sustainable Development Goals Global Equity ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2022-10-20
• Prospectus (485BPOS) — filed 2021-10-22
• Prospectus supplement (497) — filed 2021-07-27
• Portfolio holdings (N-PORT) — filed 2023-02-28
• Portfolio holdings (N-PORT) — filed 2022-11-29
• Portfolio holdings (N-PORT) — filed 2022-08-25
• Annual census (N-CEN) — filed 2022-09-12
• Annual census (N-CEN) — filed 2021-09-13

Related Funds

Other Money Market funds tracked on ABC INVEST:

• Emerald Growth Fund (HSPCX)
• Barings Active Short Duration Bond Fund (BXDIX)
• IVA Worldwide Fund (IVWAX)
• Stadion Tactical Growth Fund (ETFDX)
• BBH Partner Fund - Select Short Term Assets (BBSTX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.