RNWZ
TrueShares Eagle Global Renewable Energy Income ETF
RNWZ seeks long-term capital growth by actively managing a portfolio of renewable energy infrastructure companies from across the globe.
Global
EQUITY
Active
MANAGEMENT STYLE
75 bp
EXPENSES
$2.5 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | TrueMark Group |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 08, 2022 |
| Assets (mns) | $3 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| SSE PLC | 8.7 % |
| NEXTERA ENERGY GROUP | 8.1 % |
| ENEL SPA | 7.7 % |
| RWE AG | 7.5 % |
| DONG ENERGY A/S | 7.5 % |
| AES CORP | 6.4 % |
| NORTHLAND POWER INC | 4.8 % |
| IBERDROLA SA | 4.5 % |
| P G & E CORP | 4.0 % |
| AGL ENERGY LTD | 3.2 % |
Constituent Breakdown
| Number of holdings | 24 |
| Herfindahl-Hirschman Index | 527 |
| Wgt avg mkt cap (mns) | $32,621 |
| Large cap (>$10bn) | 71.5% |
| Mid cap ($2-10bn) | 28.5% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 31.3 % |
 |
SPAIN | 13.1 % |
 |
GERMANY | 9.3 % |
 |
BRITAIN | 8.7 % |
 |
ITALY | 7.7 % |
 |
DENMARK | 7.5 % |
 |
CANADA | 6.9 % |
 |
AUSTRALIA | 3.2 % |
 |
FINLAND | 3.1 % |
 |
NEW ZEALAND | 2.6 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -3.3% | -6.2% | -- | -- | -- | -- | -1.0% | Volatility | 16.2% | 18.3% | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.02 | 35% |
| MSCI EAFE | 1.22 | 61% |
| MSCI Emg Mkts | 1.08 | 41% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.82% |
| ADV of underlying (mns) | $3,774 |
Technical Indicators
| Recent close | $22.82 |
| 30d moving avg. | $22.59 |
| Annualized volatility | 23.1% |
| Relative strength (RSI) | 57 |
| Short interest (ETF) | 0.4% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. RNWZ |
Expenses vs. RNWZ |
ALTAR Score™ vs. RNWZ |
|---|---|---|---|---|
| FAN | First Trust Global Wind Energy ETF | 27.5% | -15 bp | -2.3% |
| SMOG | VanEck Low Carbon Energy ETF | 26.8% | -14 bp | -4.8% |
| JXI | iShares Global Utilities ETF | 26.4% | -32 bp | -1.2% |
| GCLN | Goldman Sachs Bloomberg Clean Energy Equity ETF | 22.8% | -30 bp | -1.7% |
| VCLN | Virtus Duff & Phelps Clean Energy ETF | 19.1% | -16 bp | -4.2% |
| RNRG | Global X Renewable Energy Producers ETF | 18.7% | -9 bp | -2.9% |
| BLLD | JPMorgan Sustainable Infrastructure ETF | 16.1% | -26 bp | -1.9% |
| ICLN | iShares Global Clean Energy ETF | 14.8% | -34 bp | -2.8% |
| GSFP | Goldman Sachs Future Planet Equity ETF | 14.7% | 0 bp | -3.1% |
| WNDY | Global X Wind Energy ETF | 14.4% | -25 bp | -2.1% |
Risk and Returns: RNWZ 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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 7/25/2024
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
RNWZ
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 Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
RNWZ
7.6%
Cat. Avg
4.0%
Fund Category: Global
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 7.6% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 352 funds in the Global category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.8%. RNWZ's ALTAR Score™ is approximately
0.7 standard deviations
above
the category average. This places RNWZ in the 77th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
RNWZ
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Active Global Equity ETFs |
| # of ETFs | 118 |
| Avg. Expense Ratio | 73.5 bp |
| Std. Deviation | 29.8 bp |
| RNWZ (75 bp) Percentile rank | 52 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| RNWZ | 75.0 | 81.9 | 156.9 |
| Peer Avg. | 77.1 | 49.6 | 126.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .