Impact Shares, a nonprofit exchange traded fund provider, has partnered up with the National Association for the Advancement of Colored People (NAACP), to launch a the first socially responsible ETF strategy that specifically supports the promotion of racial equality among corporations.

On Thursday, Impact Shares launched the Impact Shares NAACP Minority Empowerment ETF (NYSEArca: NACP), which has a 0.76% expense ratio.

The Impact Shares NAACP Minority Empowerment ETF will try to reflect the performance of the Morningstar Minority Empowerment Index, which utilizes social screens in determining the Minority Empowerment Composite Score to select 200 securities that reflect the NAACP’s values of justice, equality and inclusivity, and invests in large-cap companies that empower minorities including hiring, pay and promotion practices as well as their products, services and supply chains.

“The ongoing social issues affecting communities of color present us with an opportune time to offer our members another way to advance our mission,” Marvin Owens, Senior Director of the NAACP Economic Department, said in a note. “The NACP ETF is the first of its kind in that investors can allocate money to the companies that have a track record of supporting the NAACP’s vision for corporate America and our constituents. Unlike other ETFs where operating profits are captured by a Wall Street investment firm, Impact Shares will direct its net advisory profits from this ETF back to the NAACP and to our mission as a non-profit.”

According to a prospectus sheet, the underlying index will look through 10 social screens, including:

1. Board Diversity. This indicator provides an assessment of the diversity of a company’s board of directors. Diversity of background can provide fresh perspectives in the boardroom and lead to better board decision-making.

2. Discrimination Policy. This indicator provides an assessment of the quality of a company’s policy to eliminate discrimination, including racial discrimination, and ensure equal opportunity.

3. Scope of Supplier Social Programs. This indicator assesses whether a company has supply chain/contractors’ social programs including a focus on racial diversity and empowerment, and the scope of such standards.