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Launched

Brendan Wood TopGun ETF

BWTGCboeD

$41.30−0.21 (−0.52%)

As of Nov 2, 2026, 3:58 PM ET

D34/ 100

Rank 12 of 17 in US Active Quality

D34/100Rank 12 of 17inUS Active Quality
Intraday session: down, 79 prints from 41.51 to 41.30. Range 41.26 to 41.72. Use the arrow keys to read each point.41.4041.6041.7010 AM12 PM2 PM4 PM
Expense ratio
0.98%
Fund size
$21M
1Y total return
+7.8%
Yield · Last 12 months
0.33%
Holdings
21
Avg volume · 30D
674 sh
52W range
low $36.18high $43.30
Launched

The ETF.net BWTG Grade

Based on 5 of 6 pillars

D

Score 34 out of 100

Category
US Active Quality⁠
Rank
12 of 17
Six-pillar profile for BWTG. Scores out of 100: Cost 13, Risk 63, Mission not scored, Tradability 46, Holdings 36, Durability 42. Strongest: Risk (63). Weakest: Cost (13). Based on 5 of 6 pillars.

Score 34 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F13 out of 100
    Rank 15 of 17

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B63 out of 100
    Rank 7 of 16

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C46 out of 100
    Rank 11 of 17

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D36 out of 100
    Rank 14 of 17

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C42 out of 100
    Rank 15 of 17

Our read on BWTG

ETF.net Research

In short

DRoughly two dozen US stocks, screened by the TopGun model out of a 1,400-name 'Shareholder Conviction Universe.' A boutique research shop's high-conviction list wrapped in an ETF, priced at 0.98%.

Stated mandate

The Fund seeks growth consistent with preserving capital by investing mainly in publicly listed equities selected through the sub-adviser’s TopGun model. The model emphasizes companies receiving the highest investment-quality ratings.

Why people hold it

  • Real concentration. Roughly two dozen names means the model's picks actually drive the fund, rather than getting diluted inside a long tail of filler positions.
  • The process is stated up front: start from a large conviction universe of liquid US companies, then keep the ones earning the highest investment-quality ratings. Quality and momentum, advertised.aaii.com
  • Plain wrapper. A standard 1940 Act ETF holding US-listed shares, so the risk you take on is stock selection, not structural machinery.

Worth knowing

  • The 0.98% fee sits well above the 0.57% median for quality-focused active peers, and PSET runs a quality screen for 0.15%, ABFL for 0.49%.
  • Small asset base and thin trading. Spreads tend to be wider than on a mega-cap index fund, and sizeable orders can push the price around.
  • The TopGun model's internals stay proprietary, and the fund launched in 2023, so public evidence of how it behaves across a full market cycle is limited.aaii.com

BWTG Performance

Launched Nov 8, 2023

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
BWTG$10,777
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. BWTG $10,777. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BWTG. Periods over one year show the average yearly return.
PeriodBWTG
Year to date+5.9%
1 month−0.3%
3 months−0.8%
1 year+7.8%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BWTG
YearReturn barBWTG
2026 YTD+5.9%
2025+16.4%
2024+20.7%
2023+12.6%

History from Nov 9, 2023

BWTG in the news

BWTG Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
0.33%Last 12 months
Payout per share
$0.14Last 12 months
Last payment
$0.14 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 26, 2023 $0.05; Dec 24, 2024 $0.08; Dec 24, 2025 $0.14. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.14
Dec 24, 2024Dec 26, 2024$0.08
Dec 26, 2023Dec 28, 2023$0.05

$10,000 in BWTG 1 year ago paid $35.44 in dividends.

BWTG Risk

Risk pillarB63 out of 100Rank 7 of 16 in US Active Quality
How much the fund’s monthly returns vary, scaled to a year.
11.8%
Annualised · 35 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.00
vs 3-month T-bills · 35 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−13.2%
35 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.87
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

BWTG Cost

Compare BWTG and NPFE

Overpaying vs NPFE, cheapest in US Active Quality

$10,272

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BWTG 0.98%

    $18,362

  • NPFE 0.40% Cheapest

    $8,090

$10,000
30 years

Cost over time

  • BWTG 0.98%
  • NPFE 0.40%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BWTG $18,362NPFE $8,090

Year by year

YearBWTGNPFEOverpaying
10$1,729$723$1,006
20$6,504$2,793$3,711
30$18,362$8,090$10,272

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