TIME
Clockwise Capital Innovation ETF
CWC is actively managed and aims to invest in domestic companies that best utilize 5G internet and cloud-based products and services.
Fund Basics
| Fund sponsor | |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 27, 2022 |
| Assets (mns) | $62 |
| Expense ratio | 95 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 | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| META PLATFORMS INC | 7.1 % |
| UBER TECHNOLOGIES, INC. | 6.5 % |
| AMAZON.COM INC | 6.3 % |
| NVIDIA CORP | 5.1 % |
| TESLA MOTORS INC | 4.0 % |
| CROWDSTRIKE HOLDINGS, INC. CLASS A | 3.9 % |
| ADVANCED MICRO DEVICES | 3.6 % |
| SERVICENOW INC | 3.4 % |
| VISA INC-CLASS A SHARES | 3.4 % |
| MICROSOFT CORP | 3.2 % |
Constituent Breakdown
| Number of holdings | 30 |
| Herfindahl-Hirschman Index | 348 |
| Wgt avg mkt cap (mns) | $490,262 |
| Large cap (>$10bn) | 97.0% |
| Mid cap ($2-10bn) | 3.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 82.8 % |
 |
LUXEMBOURG | 3.2 % |
 |
BRITAIN | 1.8 % |
Historical Performance
Standardized Annual Returns (as of 05/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 32.0% | 9.2% | -- | -- | -- | -- | -15.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.14 | 62% |
| MSCI EAFE | 0.89 | 36% |
| MSCI Emg Mkts | 0.69 | 23% |
Liquidity Measures
| Avg. volume (000) | 13 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.22% |
| ADV of underlying (mns) | $81,914 |
Technical Indicators
| Recent close | $21.63 |
| 30d moving avg. | $19.98 |
| Annualized volatility | 31.6% |
| Relative strength (RSI) | 74 |
| Short interest (ETF) | 0.1% |
| 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. TIME |
Expenses vs. TIME |
ALTAR Score™ vs. TIME |
|---|---|---|---|---|
| XNTK | SPDR NYSE Technology ETF | 43.4% | -60 bp | +1.5% |
| GGRW | Gabelli Growth Innovators ETF | 39.2% | -5 bp | +0.5% |
| CACG | ClearBridge All Cap Growth ETF | 36.8% | -42 bp | +0.9% |
| TECB | iShares US Tech Breakthrough Multisector ETF | 36.0% | -55 bp | +1.8% |
| QGRW | WisdomTree U.S. Quality Growth Fund | 35.8% | -67 bp | +1.9% |
| RUFF | Alpha Dog ETF | 34.9% | -5 bp | +2.6% |
| LRGE | ClearBridge Large Cap Growth ESG ETF | 33.4% | -36 bp | +0.5% |
| TMFC | Motley Fool 100 Index ETF | 30.9% | -45 bp | +1.5% |
| IGM | iShares Expanded Tech Sector ETF | 30.6% | -55 bp | +1.8% |
| XPND | First Trust Expanded Technology ETF | 30.5% | -30 bp | +2.4% |
Risk and Returns: TIME 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
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022E | 2023E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2021 | 2022E | Fwd Est | 2023E | |
| 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 6/2/2023
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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
TIME
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™
TIME
2.4%
Cat. Avg
6.2%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 2.4% |
Recommendation
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
Category Overview
There are 899 funds in the US Equities category, with an average ALTAR Score™
of 6.2% and a standard deviation of
3.1%. TIME's ALTAR Score™ is approximately
1.2 standard deviations
below
the category average. This places TIME in the 11st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
TIME
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| TIME | 95.0 | 21.5 | 116.5 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .