The Impact Shares Affordable Housing MBS ETF, also known as OWNS, is an exchange-traded fund with the ambitious mission of seeking to tap the capital markets to address long-standing affordable-housing and racial-wealth gap issues in U.S. society.
Since its inception last summer, OWNS has focused on investing in agency mortgage-backed securities (MBS) that are collateralized by custom-created mortgage pools. Those securitized loan pools currently include 375 mortgages on homes owned primarily by minority and low-to-moderate income (LMI) families.
The exchange-traded fund is advised by investment manager Impact Shares, with Community Capital Management (CCM), a pioneer in fixed-income social-impact investing, acting as a subadvisor. Some 82% details ⇒
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