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RW

GradeFNew York Stock Exchange Arca

Rainwater Equity ETF

Active Equity · Rainwater · Inception 2025-06-17

$24.59−0.01 (−0.06%)

As of Sep 23, 2026, 1:57 PM EDT

History starts Jun 18, 2025.
Intraday session: down, 3 prints from 24.61 to 24.59. Range 24.57 to 24.61. Use the arrow keys to read each point.$24.57$24.58$24.59$24.60$24.6110 AM12 PM2 PM4 PM
Expense ratio
0.95%
Fund size
$16M
1Y return
−3.5%
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$24.63
52W range
low $21.25high $27.00

The ETF.net RW Grade

F

16/ 100

Rank 8 of 9 in Global Active Growth⁠

Confidence High

Six-pillar profile for RW. Scores out of 100: Cost 17, Risk 15, Mission 43, Tradability 7, Holdings 25, Durability 38. Strongest: Mission (43). Weakest: Tradability (7). Leans toward Mission and Durability.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 16 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 17
    Category rank8/9 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    CScore 43
    Category rank2/2 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 15
    Category rank8/8 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 7
    Category rank9/9 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 25
    Category rank8/8 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 38
    Category rank8/9 · bottom quartile

Graded as of Sep 22, 2026

Our read on RW

ETF.net Research

FRainwater's swing at global growth: an active, conviction-sized book of companies whose management teams push cash flow higher, measured against the S&P 500. New, small, and priced like a boutique at 1.25%.

Stated mandate

The Fund seeks long-term capital appreciation. It is actively managed and invests in companies the sub-adviser considers well positioned for durable growth, with management teams focused on increasing cash flow over the long term.

Why people hold it

  1. 01One clear filter: companies the sub-adviser sees positioned for durable growth, run by managers focused on rising cash flow. Global, go-anywhere, no index to hug.
  2. 02The stated yardstick is the S&P 500, not a niche global blend. That makes it unusually easy to judge whether the stock picking is doing work.
  3. 03Conviction is the design, not a side effect: a growth-tilted active portfolio built to look different from a broad global index rather than track one.

Worth knowing

  1. 01The 1.25% expense ratio sits above much of the active global growth shelf, including CGGO at 0.47% and TMFG at 0.85%. Stock picking has to clear that bar.
  2. 02Small fund, thin tape. Spreads can widen and size can move the price, so limit orders are the sane default.
  3. 03Launched in 2025, so the record is short. Distributions come once or twice a year at most: this is a capital appreciation mandate, not an income one.

RW Holdings

As of Sep 20, 2026, 10:13 AM
Asset class
Stocks
Holdings
—
Top-10 weight
55%
Largest holding
First American Government Obligations Fund 12/01/203115.1%

Sectors

  • Industrials41.5%
  • Technology23.8%
  • Financials11.6%
  • Health Care6.2%
  • Materials5.5%
  • Consumer Discr.5.2%
  • Communication3.6%
  • Cons. Staples2.0%
  • Real Estate0.2%
  • Utilities0.2%
  • Energy0.2%

Geography

  • United States83.83%
  • United Kingdom7.20%
  • Sweden3.63%
  • Canada3.37%
  • Israel1.98%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—First American Government Obligations Fund 12/01/203115.08%2,435,539$2M625
002BRK-BBerkshire Hathaway Inc6.49%2,066$1M359
003DPLM.LDiploma PLC6.12%10,083$990K97
004AAPLApple Inc4.88%2,345$790K707
005HEIHEICO Corp4.51%2,439$730K187
006LOARLoar Holdings Inc4.51%11,366$730K86
007AMEAMETEK Inc3.52%2,387$570K314
008GOOGLAlphabet Inc3.34%1,552$540K704
009MAMastercard Inc3.15%905$510K512
010—AddTech AB3.03%14,845$490K2
011NIQNIQ Global Intelligence Plc2.97%26,627$480K56
012APDAir Products and Chemicals Inc2.84%1,624$460K280
013MTDMettler-Toledo International Inc2.72%313$440K269
014DGXQuest Diagnostics Inc2.72%1,784$440K306
015CSXCSX Corp2.72%9,303$440K369

Showing 1–15 of 35 holdings

RW Performance

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

RW$9,653
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. RW $9,653. SPY $11,723. Use the arrow keys to read each point.$8,341$10,178$12,015Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 RW. Periods over one year show the average yearly return.
PeriodRW
Year to date−0.8%
1 month−3.3%
3 months−1.7%
1 year−3.5%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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 RW
YearReturn barRW
2026 YTD−0.8%
2025−0.1%

History from Jun 18, 2025

RW in the news

ETF.net Research hasn’t filed on RW yet — coverage lands here as it’s written.

RW 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 Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.03 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Sep 29, 2025 $0.03. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 29, 2025Sep 30, 2025$0.03

RW Risk

How much the fund’s monthly returns vary, scaled to a year.
12.7%
Annualised · 14 months to Aug 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.
−0.45
vs 3-month T-bills · 14 months to Aug 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.
−17.0%
15 months · trough Mar 2026
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.
0.89
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.

RW Cost

Expense ratio0.95%
  • The middle half of Global Active Growth funds
  • Median 0.79%

5 of the 7 Global Active Growth funds charge less.

RW costs $95.00 a year on $10,000. The median Global Active Growth fund costs $79.00.