TWEB
SoFi Web 3 ETF
TWEB tracks a modified equal-weighted index of companies around the globe that are positioned to benefit from the adoption and usage of technologies associated with Web 3.0.
Fund Basics
| Fund sponsor | Toroso Investments |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 09, 2022 |
| Assets (mns) | $2 |
| Expense ratio | 59 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-annual |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| DRAFTKINGS INC CLASS A | 5.6 % |
| ALPHABET INC. CLASS A | 5.4 % |
| META PLATFORMS INC | 5.3 % |
| NVIDIA CORP | 5.3 % |
| SBI HOLDINGS INC | 4.7 % |
| COINBASE GLOBAL, INC. CLASS A | 4.3 % |
| MICROSOFT CORP | 4.2 % |
| FUNKO, INC. CLASS A | 4.1 % |
| GAMESTOP CORP-CLASS A | 3.9 % |
| COMPOSECURE, INC. CLASS A | 3.7 % |
Constituent Breakdown
| Number of holdings | 39 |
| Herfindahl-Hirschman Index | 339 |
| Wgt avg mkt cap (mns) | $485,635 |
| Large cap (>$10bn) | 44.4% |
| Mid cap ($2-10bn) | 17.6% |
| Small cap (<$2bn) | 33.9% |
| Developed mkts. | 97.7% |
| Emerging mkts. | 2.3% |
Country Exposure
 |
UNITED STATES | 85.2 % |
 |
JAPAN | 7.1 % |
 |
CANADA | 2.6 % |
 |
TAIWAN | 2.1 % |
 |
BRITAIN | 0.6 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 60.2% | 12.4% | -- | -- | -- | -- | 12.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.34 | 30% |
| MSCI EAFE | 0.86 | 14% |
| MSCI Emg Mkts | 0.83 | 20% |
Liquidity Measures
| Avg. volume (000) | 2 |
| Turnover | 2.1% |
| Avg. Bid/Ask (% of price) | 0.74% |
| ADV of underlying (mns) | $53,839 |
Technical Indicators
| Recent close | $17.40 |
| 30d moving avg. | $18.60 |
| Annualized volatility | 46.9% |
| Relative strength (RSI) | 30 |
| Short interest (ETF) | 17.7% |
| 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. TWEB |
Expenses vs. TWEB |
ALTAR Score™ vs. TWEB |
|---|---|---|---|---|
| VERS | ProShares Metaverse ETF | 40.1% | -1 bp | -5.3% |
| SFYF | SoFi 50 ETF | 37.1% | -30 bp | +3.6% |
| BUZZ | VanEck Social Sentiment ETF | 36.6% | +16 bp | +4.3% |
| FBCG | Fidelity Blue Chip Growth ETF | 34.1% | 0 bp | +5.4% |
| METV | Roundhill Ball Metaverse ETF | 32.2% | 0 bp | +7.5% |
| ONEQ | Fidelity Nasdaq Composite Index Tracking Stock | 29.8% | -38 bp | +7.2% |
| CHAT | Roundhill Generative AI & Technology ETF | 29.5% | +16 bp | +5.3% |
| GRZZ | Grizzle Growth ETF | 29.5% | +16 bp | +9.5% |
| VR | Global X Metaverse ETF | 29.4% | -9 bp | +9.3% |
| TECB | iShares US Tech Breakthrough Multisector ETF | 28.0% | -19 bp | +7.9% |
Risk and Returns: TWEB 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
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2022 | 2023E | Fwd Est | 2024E | |
| 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 9/20/2023
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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
TWEB
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™
TWEB
-3.3%
Cat. Avg
4.1%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | -3.3% |
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 345 funds in the Global Equities category, with an average ALTAR Score™
of 4.1% and a standard deviation of
5.0%. TWEB's ALTAR Score™ is approximately
1.5 standard deviations
below
the category average. This places TWEB in the 7th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
TWEB
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) |
|
|---|---|---|---|
| TWEB | 59.0 | 73.8 | 132.8 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .