WOMN tracks the Morningstar Womens Empowerment Index, which is designed to provide exposure to companies worldwide with strong policies and practices in support of womens empowerment and gender equality.

Broad equity market exposure.WOMN is designed to provide broad market exposure to U.S. Large and Mid-Cap companies, comparable to that of the Russell 1000 Index. With WOMN, investors may achieve broad equity market returns while driving social change.

Innovative model for social impact.Impact Shares is a 501(c)(3) non-profit organization, that donates all net advisory profits from WOMNs ETF management fee to the YWCA. This provides an additional funding source for the YWCAs mission to eliminate racism, empower women and promote peace, justice,freedom, and dignity for all.

Womens empowerment.WOMN includes companies that align with theYWCAs vision of how corporations can advance womens empowerment andgender equality.

About the YWCA.Founded in 1858 as a voice for womens issues, YWCA USArepresents more than 200 YWCA associations in 46 States and the Districtof Columbia. YWCAs across the United States serve over 2 million womenand families each year in over 1,200 communities. Through its many directservices, community-based programs, and public policy advocacy, the YWCAhas delivered social impact for more than 160 years.

*The fund is not sponsored, endorsed, or promoted by WOMN.

*Net Profits is the excess, if any, of Impact Shares Fund fees after the deduction of operating expense and a reserve for working capital

*There is no guarantee the Fund will be successful in meeting its objectives

Were using the 19 criteria that determine Gender Equality Scores to set a roadmap for all companies to follow, inside and outside the ETF, to improve womens empowerment.

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Impact Shares ETFs are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Impact Shares Corp., the Investment Adviser for the Funds, the YWCA, NAACP, or UNCDF. Nor is SIDCO affiliated with Morningstar or Sustainalytics. Additional information about SIDCO is available on FINRAsBrokerCheck.

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 , or by visiting 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.

The Impact Shares Sustainable Development Goals Equity ETF invests in foreign investments and emerging markets, In addition to the normal risks associated with investing, international investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume.