SQEW
LeaderShares Equity Skew ETF
SQEW is an actively managed fund that invests in global equities. The fund weights companies based on quantitative factors including statistical skew.
Global
EQUITY
Active
MANAGEMENT STYLE
15.9 M
ASSETS UNDER MGMT
81 bp
EXPENSES
Fund Basics
| Fund sponsor | Redwood Investment Management |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | May 12, 2020 |
| Assets (mns) | $16 |
| Expense ratio | 81 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 | Yes |
Top 10 Holdings
| ISHARES RUSSELL 2000 ETF | 34.7 % |
| SPDR® PORTFOLIO S&P 500 VALUE ETF | 28.5 % |
| SPDR® PORTFOLIO S&P 500 GROWTH ETF | 18.7 % |
| SPDR® S&P 600 SMALL CAP VALUE ETF | 14.5 % |
| SPDR® S&P 600 SMALL CAP GROWTH ETF | 1.9 % |
| VANGUARD FTSE EMERGING MARKETS ETF | 1.1 % |
Constituent Breakdown
| Number of holdings | 1 |
| Herfindahl-Hirschman Index | 143 |
| Wgt avg mkt cap (mns) | $606,518 |
| Large cap (>$10bn) | 50.3% |
| Mid cap ($2-10bn) | 30.9% |
| Small cap (<$2bn) | 14.0% |
| Developed mkts. | 93.9% |
| Emerging mkts. | 1.1% |
Country Exposure
 |
UNITED STATES | 91.1 % |
 |
IRELAND | 0.9 % |
Historical Performance
Standardized Performance (as of 11/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 4.7% | -3.6% | 8.4% | 5.7% | 2.2% | -- | -- | 6.5% |
| Dividend Yield | 2.0% | 3.2% | 2.4% | 1.7% | 3.9% | -- | -- | 3.6% |
| Total Returns | 6.8% | -0.4% | 10.8% | 7.4% | 6.1% | -- | -- | 10.2% | Ann. Volatility | 18.6% | 18.6% | 16.9% | 16.0% | 18.1% | -- | -- | 18.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.84 | 84% |
| MSCI EAFE | 0.87 | 64% |
| MSCI Emg Mkts | 0.80 | 61% |
Liquidity Measures
| Avg. volume (000) | 4 |
| ADV traded (mns) | $0 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.19% |
Technical Indicators
| 30d moving avg. (EMA) | $35.11 |
| Relative strength (RSI) | 56 |
| MACD/Signal | 0.09/0.14 |
| Bollinger Bands (Upper/Lower) | $35.83/$34.81 |
| Short interest (% of AUM) | 2.7% |
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. SQEW |
Expenses vs. SQEW |
ALTAR Score™ vs. SQEW |
|---|---|---|---|---|
| SMMD | iShares Russell 2500 ETF | 34.7% | -66 bp | +6.8% |
| EZRO | AlphaDroid Defensive Sector Rotation ETF | 12.4% | +39 bp | +1.4% |
Risk and Returns: SQEW 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 12/18/2025
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™
SQEW
4.7%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 383 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
3.2%. SQEW's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places SQEW in the 56th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SQEWSELL
U/W
HOLD
O/W
BUY