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SLWS

GradeDNew York Stock Exchange Arca

SLW Short Duration Income ETF

Treasury & Government Bond · SLW Funds · Inception 2024-12-19

$100.69+0.00 (+0.00%)

As of Sep 23, 2026, 9:46 AM EDT

Market opens at 9:30 AM ET.History starts Nov 6, 2025.History starts Nov 6, 2025.
Intraday session: up, 5 prints from 100.63 to 100.69. Range 100.63 to 100.69. Use the arrow keys to read each point.$100.64$100.66Sep 17Sep 18Sep 22Sep 23
Expense ratio
0.42%
Fund size
$389M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$100.80
52W range
low $100.53high $101.44

The ETF.net SLWS Grade

D

38/ 100

Rank 69 of 78 in Cash & Ultra-Short Income⁠

Confidence High

Six-pillar profile for SLWS. Scores out of 100: Cost 8, Risk 53, Mission 67, Tradability 12, Holdings 70, Durability 47. Strongest: Holdings (70). Weakest: Cost (8). Leans toward Holdings and Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 38 of 100 sits in the D 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 8
    Category rank72/78 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    BScore 67
    Category rank63/64 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 53
    Category rank32/75 · top 43%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 12
    Category rank72/78 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 70
    Category rank24/77 · top 31%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 47
    Category rank48/78 · mid-pack

Graded as of Sep 22, 2026

Our read on SLWS

ETF.net Research

DMost ultra-short bond funds are index-run Treasury parking lots. SLWS is a young, actively managed take: a human-picked short-duration portfolio that can roam into international and emerging-market debt while keeping duration near a year or less.

Stated mandate

The Fund seeks to preserve capital and provide liquidity while generating risk-managed income. It pursues this through actively managed fixed-income investments, with an emphasis on low volatility and a normal duration of one year or less.

Why people hold it

  1. 01Actively managed, not index-tracking. Managers pick the bonds, aiming to preserve capital and provide liquidity while generating risk-managed income.
  2. 02Normal duration of one year or less, with a stated emphasis on low volatility. That is the short end of the curve, where rate swings bite least.
  3. 03Wider passport than the Treasury-only crowd: the mandate covers US, international and emerging-market fixed income, not just domestic bills.
  4. 04The portfolio lines up closely with the short-duration income mandate its filings describe, and it holds a conventional 1940 Act fund structure.

Worth knowing

  1. 01Cost is the sticking point: 0.42% is roughly double the ultra-short median, and scale players like VUSB (0.10%) and SHV (0.15%) undercut it by a lot.
  2. 02It trades thinly next to the category's heavyweights, which tends to show up as wider spreads at the moment you transact.
  3. 03Launched in December 2024, so the track record is short, and distributions have come on an irregular schedule rather than a fixed monthly one.

SLWS Holdings

As of Sep 20, 2026, 9:21 AM
Asset class
Bonds
Holdings
—
Top-10 weight
19%
Largest holding
JAAA3.7%

Geography

  • United States70.88%
  • Canada8.61%
  • Ireland4.47%
  • United Kingdom4.26%
  • Luxembourg2.50%
  • France2.25%
  • Netherlands2.08%
  • Japan1.26%
  • Other countries (6)3.70%

Developed 97% · Emerging 3% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 14.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001JAAAJanus Henderson AAA CLO ETF3.73%280,000$14M16
002BUCKSimplify Treasury Option Incom2.52%410,000$10M2
003—EAGLE LUXCO MEX 5 1/2 08/17/302.09%8,000,000$8M14
004—PSEG POWER LLC PEG 5.2 05/15/302.09%8,000,000$8M9
005—HF SINCLAIR CORP DINO 5 3/4 01/15/311.99%7,500,000$8M9
006—ROYAL BK CANADA RY 5.153 02/04/311.43%5,500,000$5M13
007—VOLKSWAGEN GRP VW 5.35 03/27/301.43%5,500,000$5M2
008—UNUM GROUP UNM 7 1/4 03/15/281.35%5,007,000$5M1
009—BLUE OWL TECHNOL OTF 6.1 03/15/281.31%5,000,000$5M9
010—FRANKLIN BSP FBRT 8 1/4 04/25/301.29%5,000,000$5M1
011—ATLAS WARE LEND ATWALD 4 5/8 11/15/281.29%5,000,000$5M4
012—HPS CORPORATE LE HLEND 5.15 04/02/291.28%5,000,000$5M8
013—SBL HOLDINGS INC SECBEN 5.9 09/26/281.27%5,000,000$5M5
014—HPS CORPORATE LE HLEND 5.65 04/02/311.26%5,000,000$5M9
015—ARES CAPITAL COR ARCC 5.1 01/15/311.25%5,000,000$5M11

Showing 1–15 of 207 holdings

SLWS Performance

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

SLWS$10,252
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. SLWS $10,252. SPY $11,430. Use the arrow keys to read each point.$9,119$10,381$11,642Dec 2025May 2026Sep 2026

Dec 31, 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 SLWS. Periods over one year show the average yearly return.
PeriodSLWS
Year to date+2.5%
1 month−0.1%
3 months+0.7%
1 yearHistory unavailable—
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 SLWS
YearReturn barSLWS
2026 YTD+2.5%
2025+0.9%

History from Nov 6, 2025

SLWS in the news

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

SLWS 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
$0.43 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 10 payments from 2025 to 2026 YTD. Nov 26, 2025 $0.41; Dec 30, 2025 $0.43; Jan 29, 2026 $0.58; Feb 26, 2026 $0.36; Mar 30, 2026 $0.39; Apr 29, 2026 $0.38; May 28, 2026 $0.39; Jun 29, 2026 $0.38; Jul 30, 2026 $0.40; Aug 28, 2026 $0.43. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Aug 28, 2026Aug 31, 2026$0.43
Jul 30, 2026Jul 31, 2026$0.40
Jun 29, 2026Jun 30, 2026$0.38
May 28, 2026May 29, 2026$0.39
Apr 29, 2026Apr 30, 2026$0.38
Mar 30, 2026Mar 31, 2026$0.39
Feb 26, 2026Feb 27, 2026$0.36
Jan 29, 2026Jan 30, 2026$0.58
Dec 30, 2025Dec 31, 2025$0.43
Nov 26, 2025Nov 28, 2025$0.41

SLWS Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
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.
—
No data available
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.
—
No data available
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.
0.04
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.

SLWS Cost

Expense ratio0.42%
  • The middle half of Cash & Ultra-Short Income funds
  • Median 0.19%

69 of the 77 Cash & Ultra-Short Income funds charge less.

SLWS costs $42.00 a year on $10,000. The median Cash & Ultra-Short Income fund costs $19.00.