CCM Affordable Housing MBS ETF
OWNS
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- Impact Shares Affordable Housing MBS ETF (NYSE Arca: OWNS) is an actively managed exchange-traded fund that primarily invests in agency mortgage-backed securities (MBS) issued by Fannie Mae, Freddie Mac and Ginnie Mae; these securities are backed by pools of mortgage loans made to low- and moderate-income (LMI) borrowers, minority families, families in persistent poverty counties (PPCs), racially/ethnically concentrated areas of poverty (R/ECAPs), and majority-minority census tracts; the fund also targets MBS sourced from non-traditional originators such as Community Development Financial Institutions (CDFIs) and minority-owned banks; at least 51% of its net assets qualify under the Community Reinvestment Act (CRA) for banks seeking investment credit. OWNS seeks to generate current income while promoting affordable homeownership to bridge the U.S. racial wealth gap and support underserved communities, with a net expense ratio of 0.30% and approximately $112 million in net assets as of December 2025. Launched in July 2021 and sub-advised by Community Capital Management, LLC (CCM), a pioneer in fixed income impact investing, the ETF trades on NYSE Arca and benchmarks against the Bloomberg U.S. MBS Index. Impact Shares, the non-profit issuer headquartered in the U.S., operates within the sustainable fixed income segment and directs all net profits from its ETFs, including OWNS, to non-profit partners focused on social impact; the fund targets institutional and retail investors interested in impact investing, with initial seed capital from entities such as Allianz Life Insurance Company of North America, BancorpSouth, Woodforest National Bank, and the California Community Foundation. Geographically, OWNS focuses on U.S. mortgage markets supporting domestic affordable housing initiatives. Recent developments include CCM's contractual expense limitation waiver extended through at least October 31, 2024, ensuring the 0.30% net expense ratio; performance prior to March 18, 2024, reflects that of a predecessor fund managed similarly; as of December 9, 2025, the fund reported a NAV of $17.52, with year-to-date returns of approximately 7.79% on NAV and ongoing distributions, such as the initial $0.04 payout in September 2021. No major acquisitions, funding rounds, or strategic shifts specific to OWNS have been announced in the last 1-2 years, with the fund maintaining steady growth to over $112 million in assets amid a competitive ETF landscape.