HEAT
Touchstone Climate Transition ETF
HEAT is an actively managed fund that invests in equity and equity-related securities of three categories tied to climate transition: solution providers, transition leaders, and adaption opportunities.
Global
EQUITY
Active
MANAGEMENT STYLE
13.8 M
ASSETS UNDER MGMT
69 bp
EXPENSES
Fund Basics
| Fund sponsor | |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | May 02, 2023 |
| Assets (mns) | $14 |
| Expense ratio | 69 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TAIWAN SEMICONDUCTOR-SP ADR | 3.8 % |
| NVIDIA CORP | 3.5 % |
| MONOLITHIC POWER SYSTEMS INC | 3.0 % |
| CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD | 2.8 % |
| NVENT ELECTRIC PLC | 2.7 % |
| UNITED RENTALS INC | 2.7 % |
| AMAZON.COM INC | 2.7 % |
| UBER TECHNOLOGIES, INC. | 2.7 % |
| SILVER WHEATON CORP | 2.6 % |
| CADENCE DESIGN SYS INC | 2.6 % |
Constituent Breakdown
| Number of holdings | 63 |
| Herfindahl-Hirschman Index | 247 |
| Wgt avg mkt cap (mns) | $374,661 |
| Large cap (>$10bn) | 96.0% |
| Mid cap ($2-10bn) | 9.1% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 98.1% |
| Emerging mkts. | 9.2% |
Country Exposure
 |
UNITED STATES | 56.2 % |
 |
BRITAIN | 12.9 % |
 |
CHINA | 5.4 % |
 |
CANADA | 4.6 % |
 |
IRELAND | 4.4 % |
 |
NETHERLANDS | 4.0 % |
 |
TAIWAN | 3.8 % |
 |
SWITZERLAND | 3.5 % |
 |
JAPAN | 3.4 % |
 |
ITALY | 2.4 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 23.8% | 19.8% | 20.1% | -- | -- | -- | -- | 9.8% |
| Dividend Yield | 0.0% | 0.8% | 0.8% | -- | -- | -- | -- | 0.6% |
| Total Returns | 23.8% | 20.5% | 20.9% | -- | -- | -- | -- | 10.4% | Ann. Volatility | 19.5% | 18.6% | 17.6% | -- | -- | -- | -- | 17.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.91 | 63% |
| MSCI EAFE | 0.33 | 9% |
| MSCI Emg Mkts | -0.08 | 0% |
Liquidity Measures
| Avg. volume (000) | 0 |
| ADV traded (mns) | $0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.36% |
Technical Indicators
| 30d moving avg. (EMA) | $30.64 |
| Relative strength (RSI) | 43 |
| MACD/Signal | -0.35/-0.14 |
| Bollinger Bands (Upper/Lower) | $32.28/$29.40 |
| Short interest (% of AUM) | 1.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. HEAT |
Expenses vs. HEAT |
ALTAR Score™ vs. HEAT |
|---|---|---|---|---|
| TEMP | JPMorgan Climate Change Solutions ETF | 21.9% | -20 bp | +5.6% |
| GSFP | Goldman Sachs Future Planet Equity ETF | 20.9% | +6 bp | +4.2% |
| SSPX | Janus Henderson U.S. Sustainable Equity ETF | 19.7% | -14 bp | +4.4% |
| FBOT | Fidelity Disruptive Automation ETF | 19.3% | -19 bp | +3.4% |
| IQM | Franklin Intelligent Machines ETF | 17.6% | -19 bp | +2.0% |
| OCEN | IQ Clean Oceans ETF | 16.6% | -24 bp | +5.1% |
| WTAI | WisdomTree Artificial Intelligence and Innovation Fund | 15.2% | -24 bp | +2.6% |
| FDCF | Fidelity Disruptive Communications ETF | 15.2% | -19 bp | +4.2% |
| AIQ | Global X Artificial Intelligence & Technology ETF | 15.0% | -1 bp | +3.7% |
| SPGP | Invesco S&P 500 GARP ETF | 15.0% | -35 bp | +6.8% |
Risk and Returns: HEAT vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/29/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
HEAT
4.5%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 378 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
3.1%. HEAT's ALTAR Score™ is approximately
0.1 standard deviations
above
the category average. This places HEAT in the 54th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
HEATSELL
U/W
HOLD
O/W
BUY