ESGU vs NACP: Grades, Fees and Holdings Compared

iShares ESG Aware MSCI USA ETF

ESGUANasdaq

Impact Shares NAACP Minority Empowerment ETF

NACPCNYSE Arca

Overlap

50.8%by weight

Expense ratio

ESGU −0.34pt a year

ESGU0.15%NACP0.49%

Avg volume · 30D

ESGU 160.0×the volume

ESGU389KNACP2.43K

5Y return · a year

NACP +2.4pt

ESGU+10.6%NACP+13.0%

ESGU vs NACP Performance

Nov 2, 2021 – Nov 2, 2026

+65.5%ESGU+84.3%NACP

Expense ratio: ESGU 0.15%, better; NACP 0.49%
Fund size: ESGU $17.8B; NACP $74M
1Y total return: ESGU +11.0%; NACP +19.2%, better
Yield (12M): ESGU 0.94%, better; NACP 0.57%
Holdings: ESGU 271; NACP 201
Avg volume (30D): ESGU 389K sh, better; NACP 2.43K sh
NAV per share: ESGU $165.22; NACP $59.25
52W range

ETF.net Grade

Pillar letters and Scores for ESGU, NACP, with each pillar’s weight
Pillar	ESGU	NACP
Cost30% weight	B68Higher	F17
Mission25% weight	A97Higher	A86
Risk15% weight	C50	C53Higher
Tradability15% weight	A93Higher	F15
Holdings10% weight	B59Higher	B58
Durability5% weight	A95Higher	C42

Rank among US ESG & Values Index funds

How we build Categories ›

Same Category. ESGU and NACP are both graded against the same 47 US ESG & Values Index funds, so their Grades compare head to head.

US ESG & Values Index⁠

Category · 47 funds

See all 47 ›

ESGU ranks 4th and NACP 39th of 47 funds in the US ESG & Values Index Category.

Rank 1AKLMNInvesco MSCI North America Climate ETFScore 82
Rank 2AEFIVState Street SPDR S&P 500 ESG ETFScore 79
Rank 2ASNPEXtrackers S&P 500 Scored & Screened ETFScore 79
Rank 4AESGUiShares ESG Aware MSCI USA ETFScore 76
Rank 5ADFSUDimensional US Sustainability Core 1 ETFScore 74
Rank 39CISMDInspire Small/Mid Cap ETFScore 44
Rank 39CNACPImpact Shares NAACP Minority Empowerment ETFScore 44
Rank 39CNUMGNuveen ESG Mid-Cap GrowthScore 44

Our read on each fund

ETF.net Research

ESGUAiShares ESG Aware MSCI USA ETF

NACPCImpact Shares NAACP Minority Empowerment ETF

In short

ESGU Screening out companies is easy; keeping the market's shape while you do it is the hard part. ESGU's index optimizes toward stronger ESG characteristics while targeting risk and return similar to the broad MSCI USA Index.

NACP The NAACP's name is on the door. NACP tracks the Morningstar Minority Empowerment Index and holds about 50 US stocks, a much narrower cut than the broad ESG index funds it sits beside.

Stated mandate

ESGU Seeks to track an index of large- and mid-cap U.S. companies selected for favorable environmental, social and governance (ESG) characteristics while seeking risk/return similar to the MSCI USA Index.

NACP Before fees and expenses, the Fund seeks to track the Morningstar Minority Empowerment Index. It normally invests at least 80% of assets plus investment borrowings in securities included in that index.

Why people hold it

ESGU Not a screen-and-drop portfolio: the index optimizes toward better ESG characteristics while targeting risk and return similar to the broad MSCI USA Index.ishares.com
0.15% a year, below the typical fund in its US ESG group, spread across roughly 300 large- and mid-cap names rather than a narrow shortlist.
Running since 2016, a multi-billion-dollar iShares fund that pays quarterly and sits in the top quartile of a crowded US ESG peer group.

NACP One screen, stated up front: the Morningstar Minority Empowerment Index. Not a general-purpose ESG blend with a theme bolted on.
Does what the label says. At least 80% of assets sit in index securities, run passively, and the holdings line up closely with the mission it advertises.
About 50 US names, so the screen actually shows up in the portfolio instead of getting diluted across a whole market-cap index.
Trading since 2018 and paying quarterly, so there's a multi-year operating record behind the theme.

Worth knowing

ESGU Cheaper seats in the same row: XVV at 0.08%, ESGV at 0.09%, SNPE and EFIV at 0.10%, against 0.15% here.
Market-like risk is the stated goal, so exclusions are lighter than a purist ESG fund and the holdings end up looking a lot like the broad US market.ishares.com
MSCI's ratings decide who makes the cut, so the portfolio reflects one provider's definition of ESG, not an industry standard.ishares.com

NACP Costs 0.49% a year, roughly double the ESG cohort median of 0.25% and well above broad screens like ESGV (0.09%) or ESGU (0.15%).
Thinly traded. Spreads can run wider than in the category's heavyweights, and bigger orders take more care to fill.
A roughly 50-stock portfolio swings with individual names and sectors more than a broad ESG index fund holding the whole market.

Full ESGU profile⁠

Full NACP profile⁠

ESGU vs NACP Holdings

How ESGU and NACP differ

Overlap by weight

50.8%

Shared holdings make up 88.7% of NACP and 58.4% of ESGU.

Level by level

Holdings127 in both50.8%
Sector11 Sectors94.0%
Asset classEquity100%
Countryby domicile99.8%

Sector

Sector weights in ESGU and NACP, widest gap first
Sector	More in ESGUMore in NACP	ESGU	NACP
Consumer Discretionary	NACP +3.1 points	8.1%	11.2%
Energy	NACP +1.6 points	4.0%	5.6%
Financials	ESGU +1.4 points	11.9%	10.5%
Consumer Staples	ESGU +1.3 points	4.6%	3.3%
Real Estate	ESGU +1.0 points	2.1%	1.1%
Utilities	NACP +1.0 points	1.8%	2.8%
Materials	ESGU +0.6 points	1.9%	1.3%
Industrials	ESGU +0.6 points	8.2%	7.6%
Health Care	ESGU +0.6 points	10.6%	10.0%
Communication	ESGU +0.4 points	8.5%	8.1%
Technology	NACP +0.2 points	38.4%	38.6%

Country, concentration and asset class

Country by domicile

Country weights in ESGU and NACP, widest gap first
Country	More in ESGUMore in NACP	ESGU	NACP
United States	Same weight	99.8%	99.8%
Mexico	NACP +0.2 points	0.0%	0.2%
Brazil	ESGU +0.1 points	0.1%	0.0%
China	ESGU +0.1 points	0.1%	0.0%
United Kingdom	NACP +0.1 points	0.0%	0.1%

Concentration

Weight in the 10 largest Holdings

ESGU36.2%
NACP37.6%

Securities held

ESGU268
NACP200

Asset class

ESGU: Equity
NACP: Equity

Holdings

Only in ESGU141
In both127
Only in NACP73

Only in ESGU

141 securities, 41.4% of ESGU by weight

Apple7.66%
Alphabet Class C2.89%
Broadcom Inc2.29%
Eli Lilly1.70%
Home Depot0.66%
Procter & Gamble0.66%
Costco Wholesale Corp0.65%
Hartford Insurance Group0.60%
Goldman Sachs Group0.52%
Palantir Technologies Class A0.50%
Rtx0.48%
Caterpillar Inc0.48%
Berkshire Hathaway Inc Class B0.46%
Linde PLC0.40%
Automatic Data Processing Inc0.40%
American Express0.39%
American Tower Reit0.39%
Amgen Inc0.36%
Steris0.35%
Netflix0.32%
Church and Dwight Inc0.32%
Mckesson Corp0.30%
Idexx Laboratories0.30%
Ww Grainger Inc0.30%
Crowdstrike Holdings Class A0.29%
Colgate-Palmolive0.29%
Marvell Technology0.28%
Cardinal Health0.28%
Vertex Pharmaceuticals0.28%
Arista Networks0.28%
BlackRock0.27%
Servicenow0.27%
Diamondback Energy0.27%
Walt Disney0.27%
Cadence Design Systems0.26%
Prudential Financial Inc0.26%
Kimberly Clark0.26%
Adobe Inc0.26%
Synopsys0.26%
Autodesk0.25%
Western Digital Corp0.25%
Targa Resources0.24%
Cencora0.24%
State Street0.24%
Sysco0.23%
Arch Capital Group0.23%
Sandisk0.23%
Crown Castle Inc0.23%
Seagate Technology Holdings PLC0.22%
Raymond James0.22%

Only in NACP

73 securities, 11.2% of NACP by weight

Walmart Inc1.40%
PepsiCo Inc0.50%
Charles Schwab Corp/The0.38%
Boeing Co/The0.35%
Marriott International Inc/MD0.32%
Medtronic PLC0.31%
CVS Health Corp0.30%
Valero Energy Corp0.29%
Southern Co/The0.28%
Duke Energy Corp0.26%
Freeport-McMoRan Inc0.25%
Emerson Electric Co0.24%
SLB Ltd0.22%
United Parcel Service Inc0.22%
Microchip Technology Inc0.22%
Illinois Tool Works Inc0.21%
Norfolk Southern Corp0.21%
First American Government Obligations Fund 12/01/20310.21%
Cintas Corp0.20%
eBay Inc0.20%
FedEx Corp0.19%
American Electric Power Co Inc0.18%
Aon PLC0.18%
NIKE Inc0.17%
Ford Motor Co0.17%
Boston Scientific Corp0.16%
Cognizant Technology Solutions Corp0.16%
Flex Ltd0.16%
Truist Financial Corp0.15%
Dominion Energy Inc0.15%
AMETEK Inc0.15%
Becton Dickinson & Co0.14%
Xcel Energy Inc0.13%
HP Inc0.13%
Consolidated Edison Inc0.11%
Vistra Corp0.11%
WEC Energy Group Inc0.10%
Vulcan Materials Co0.10%
Illumina Inc0.09%
Martin Marietta Materials Inc0.09%
United Airlines Holdings Inc0.09%
M&T Bank Corp0.08%
Huntington Bancshares Inc/OH0.08%
Halliburton Co0.08%
Gartner Inc0.08%
Otis Worldwide Corp0.08%
DTE Energy Co0.07%
Verisk Analytics Inc0.07%
PG&E Corp0.07%
FirstEnergy Corp0.07%

Weight gaps

The 100 widest of 127 Holdings in both funds.

Holding weights in ESGU and NACP, widest gap first
Holding	More in ESGUMore in NACP	ESGU	NACP
Advanced Micro DevicesAMD	NACP +2.93 points	1.29%	4.22%
NVIDIANVDA	ESGU +2.73 points	7.25%	4.52%
Tesla IncTSLA	NACP +2.60 points	1.73%	4.33%
Micron TechnologyMU	NACP +2.04 points	1.50%	3.54%
Alphabet Class AGOOGL	NACP +1.94 points	1.58%	3.52%
Cisco Systems IncCSCO	NACP +1.48 points	0.69%	2.17%
Meta Platforms Class AMETA	NACP +1.41 points	1.91%	3.32%
Amazon.com IncAMZN	NACP +1.24 points	3.49%	4.73%
Exxonmobil Holdings CorpXOM	NACP +1.23 points	0.82%	2.05%
Palo Alto NetworksPANW	NACP +1.23 points	0.55%	1.78%
Applied Material IncAMAT	NACP +1.04 points	0.58%	1.62%
ChevronCVX	NACP +1.03 points	0.12%	1.15%
Intel CorporationINTC	NACP +1.03 points	0.45%	1.48%
Texas InstrumentTXN	NACP +1.02 points	0.42%	1.44%
JPMorgan Chase & CoJPM	NACP +1.00 points	1.34%	2.34%
Lam ResearchLRCX	NACP +0.96 points	0.56%	1.52%
Johnson & JohnsonJNJ	NACP +0.87 points	0.81%	1.68%
International Business Machines CoIBM	NACP +0.86 points	0.40%	1.26%
MicrosoftMSFT	ESGU +0.76 points	5.71%	4.95%
KlaKLAC	NACP +0.75 points	0.26%	1.01%
OracleORCL	NACP +0.74 points	0.35%	1.09%
Analog DevicesADI	NACP +0.73 points	0.33%	1.06%
QualcommQCOM	NACP +0.67 points	0.25%	0.92%
Mastercard Class AMA	NACP +0.64 points	0.74%	1.38%
SalesforceCRM	NACP +0.60 points	0.34%	0.94%
Visa Class AV	NACP +0.55 points	1.33%	1.88%
Uber TechnologiesUBER	NACP +0.50 points	0.17%	0.67%
Accenture PLC Class AACN	NACP +0.49 points	0.35%	0.84%
AbbVieABBV	NACP +0.48 points	0.89%	1.37%
Bank of AmericaBAC	NACP +0.48 points	0.36%	0.84%
UnitedHealth GroupUNH	NACP +0.48 points	0.46%	0.94%
Thermo Fisher ScientificTMO	NACP +0.45 points	0.23%	0.68%
Merck & Co IncMRK	NACP +0.43 points	0.53%	0.96%
NisourceNI	ESGU +0.41 points	0.47%	0.06%
Ge AerospaceGE	NACP +0.36 points	0.46%	0.82%
Coca-ColaKO	NACP +0.37 points	0.61%	0.98%
Abbott LaboratoriesABT	NACP +0.36 points	0.13%	0.49%
Exelon CorpEXC	ESGU +0.24 points	0.36%	0.12%
EcolabECL	ESGU +0.23 points	0.43%	0.20%
Ge VernovaGEV	NACP +0.23 points	0.35%	0.58%
MetlifeMET	ESGU +0.22 points	0.36%	0.14%
Bristol Myers SquibbBMY	NACP +0.22 points	0.12%	0.34%
WelltowerWELL	NACP +0.22 points	0.23%	0.45%
Hewlett Packard EnterpriseHPE	NACP +0.21 points	0.17%	0.38%
PfizerPFE	NACP +0.21 points	0.25%	0.46%
DanaherDHR	NACP +0.20 points	0.20%	0.40%
CienaCIEN	NACP +0.20 points	0.08%	0.28%
Marathon PetroleumMPC	NACP +0.19 points	0.13%	0.32%
DeereDE	NACP +0.19 points	0.23%	0.42%
Nxp Semiconductors NVNXPI	NACP +0.18 points	0.14%	0.32%
Royal Caribbean GroupRCL	NACP +0.19 points	0.10%	0.29%
Hilton Worldwide HoldingsHLT	NACP +0.17 points	0.12%	0.29%
CitigroupC	NACP +0.18 points	0.34%	0.52%
General MotorsGM	NACP +0.18 points	0.10%	0.28%
Bank of New York Mellon CorpBNY	ESGU +0.17 points	0.43%	0.26%
Union PacificUNP	NACP +0.17 points	0.32%	0.49%
Honeywell International IncHON	ESGU +0.17 points	0.36%	0.19%
Cummins IncCMI	ESGU +0.16 points	0.34%	0.18%
AT&TT	NACP +0.16 points	0.23%	0.39%
Eaton PLCETN	NACP +0.16 points	0.21%	0.37%
Crh Public Limited PLCCRH	ESGU +0.16 points	0.32%	0.16%
ConocophillipsCOP	NACP +0.15 points	0.33%	0.48%
CsxCSX	NACP +0.15 points	0.11%	0.26%
L3HARRIS TechnologiesLHX	ESGU +0.15 points	0.29%	0.14%
Cheniere EnergyLNG	ESGU +0.14 points	0.32%	0.18%
NewmontNEM	NACP +0.14 points	0.15%	0.29%
Morgan StanleyMS	NACP +0.13 points	0.44%	0.57%
Mondelez International Class AMDLZ	NACP +0.12 points	0.10%	0.22%
Expeditors International of WashinEXPD	ESGU +0.11 points	0.18%	0.07%
WilliamsWMB	ESGU +0.12 points	0.36%	0.24%
T Rowe Price GroupTROW	ESGU +0.11 points	0.17%	0.06%
ProgressivePGR	NACP +0.11 points	0.24%	0.35%
Gilead SciencesGILD	NACP +0.11 points	0.43%	0.54%
Trane Technologies PLCTT	ESGU +0.11 points	0.35%	0.24%
Phillips 66PSX	NACP +0.11 points	0.18%	0.29%
Keysight TechnologiesKEYS	NACP +0.11 points	0.16%	0.27%
Jacobs Solutions IncJ	ESGU +0.11 points	0.16%	0.05%
Kinder MorganKMI	ESGU +0.10 points	0.28%	0.18%
Sba Communications Reit Corp ClassSBAC	ESGU +0.10 points	0.15%	0.05%
Eversource EnergyES	ESGU +0.09 points	0.16%	0.07%
Johnson Controls International PLCJCI	NACP +0.10 points	0.13%	0.23%
Xylem IncXYL	ESGU +0.09 points	0.15%	0.06%
Equinix ReitEQIX	ESGU +0.09 points	0.36%	0.27%
United RentalsURI	NACP +0.09 points	0.11%	0.20%
Ppg IndustriesPPG	ESGU +0.08 points	0.15%	0.07%
Edwards LifesciencesEW	ESGU +0.08 points	0.22%	0.14%
Nasdaq IncNDAQ	ESGU +0.07 points	0.20%	0.13%
Zoetis Inc Class AZTS	ESGU +0.07 points	0.16%	0.09%
Agilent Technologies IncA	ESGU +0.07 points	0.20%	0.13%
Verizon Communications IncVZ	ESGU +0.06 points	0.55%	0.49%
Lowes Companies IncLOW	NACP +0.05 points	0.38%	0.43%
Pnc Financial Services GroupPNC	ESGU +0.06 points	0.29%	0.23%
Lennox InternationalLII	ESGU +0.05 points	0.08%	0.03%
Weyerhaeuser ReitWY	ESGU +0.05 points	0.09%	0.04%
Archer Daniels MidlandADM	ESGU +0.05 points	0.14%	0.09%
Nextera EnergyNEE	NACP +0.04 points	0.41%	0.45%
Prologis ReitPLD	NACP +0.05 points	0.28%	0.33%
Incyte CorpINCY	ESGU +0.05 points	0.10%	0.05%
SempraSRE	NACP +0.04 points	0.10%	0.14%
S&P GlobalSPGI	ESGU +0.04 points	0.40%	0.36%

All 268 ESGU holdings⁠All NACP holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ESGU vs NACP Cost

Overpaying NACP vs ESGU

$6,655

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

ESGU 0.15%
$3,137
NACP 0.49%
$9,792

Amount$10,000

Years30 years

Cost over time

ESGU 0.15%
NACP 0.49%
Overpaying

Year by year

Year	ESGU	NACP	Overpaying
10	$274	$883	$609
20	$1,071	$3,394	$2,323
30	$3,137	$9,792	$6,655

Expense ratio

0.15%ESGU, cheaper
0.49%NACP

ESGU0.15%NACP0.49%

0.08%0.95%

Middle half of US ESG & Values Index funds
Median 0.25%

ESGU 13th cheapest of 47 funds

NACP 38th cheapest of 47 funds

ESGU vs NACP Dividends

Last 12 months to Nov 2, 2026

Yield (12M): ESGU 0.94%, better; NACP 0.57%
Payout (12M): ESGU $1.55; NACP $0.33
Last payment: ESGU $0.38; NACP $0.10
Ex-dividend: ESGU Sep 15, 2026; NACP Sep 29, 2026
Paid on: ESGU Sep 18, 2026; NACP Sep 30, 2026
Frequency: ESGU Quarterly; NACP Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ESGUQuarterly · 41 paymentsAll ESGU payments⁠

NACPQuarterly · 32 paymentsAll NACP payments⁠

ESGU vs NACP Risk

Fall from peak · 5 years

ESGU
NACP

Risk facts

VolatilityStd dev, 3 years: ESGU 12.8%, betterNACP 14.7%
Return per unit of riskSharpe ratio, 3 years: ESGU 1.35NACP 1.44, better
Worst fallMax drawdown, 5 years: ESGU −26.1%, betterNACP −27.9%
Market sensitivityBeta, 5 years: ESGU 1.04NACP 1.08; Market = 1

ESGU and NACP in the news

All news⁠

ETF Filings
iShares files for a screened MSCI USA ETF that omits ESG from the name
Sep 4, 2026ESGU

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ESGU vs NACP

In short

Stated mandate

Why people hold it

Worth knowing

How ESGU and NACP differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ESGU

Only in NACP

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

iShares files for a screened MSCI USA ETF that omits ESG from the name

How ESGU and NACP differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ESGU

Only in NACP

Weight gaps