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Launched · SEC filings

Pabrai Wagons ETF

WAGNNYSE ArcaD

$15.55−0.41 (−2.57%)

At close: Nov 2, 2026, 4:00 PM ET

D26/ 100

Rank 14 of 15 in Global Active Value

D26/100Rank 14 of 15inGlobal Active Value
Intraday session: down, 79 prints from 15.96 to 15.55. Range 15.55 to 15.88. Use the arrow keys to read each point.15.6015.7015.8015.9010 AM12 PM2 PM4 PM
Expense ratio
0.90%
Fund size
$313M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
22
Avg volume · 30D
134K sh
52W range
low $13.59high $16.46
Launched
Filings
SEC EDGAR

The ETF.net WAGN Grade

Based on 5 of 6 pillars

D

Score 26 out of 100

Category
Global Active Value⁠
Rank
14 of 15
Six-pillar profile for WAGN. Scores out of 100: Cost 18, Risk 25, Mission not scored, Tradability 43, Holdings 13, Durability 55. Strongest: Durability (55). Weakest: Holdings (13). Based on 5 of 6 pillars.

Score 26 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.
    F18 out of 100
    Rank 12 of 15

  • 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.
    D25 out of 100
    Rank 13 of 14

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C43 out of 100
    Rank 12 of 15

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    F13 out of 100
    Rank 15 of 15

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B55 out of 100
    Rank 10 of 15

Our read on WAGN

ETF.net Research

In short

DMohnish Pabrai's playbook in an ETF wrapper: a handful of high-conviction global businesses, bought during dislocations and held for years. Converted from his 2023 mutual fund, it's a concentrated value bet, not a diversified world index.

Stated mandate

The Fund's stated objective is long-term capital appreciation.

Why people hold it

  • Runs like Pabrai's private partnerships: a focused book of high-quality global businesses the fund "circles the wagons" around and aims to hold for the long term.wagonsetf.com
  • Not a blank slate. WAGN is the successor to the Pabrai Wagons Fund, a mutual fund that began operations in September 2023 and reorganized into an ETF in February 2026.wagonsetf.comwagonsetf.com 2
  • No home bias: the prospectus permits up to 100% of assets in companies located outside the US, including emerging markets, so the shortlist isn't capped at Wall Street.b-cdn.net
  • Now trades intraday on NYSE Arca, and it changes hands more easily than its size in the boutique-active corner would suggest.wagonsetf.com

Worth knowing

  • Boutique pricing: 0.90% a year, above the typical actively managed global stock fund and many times index-based rivals like GSWO (0.15%) or AVGE (0.25%).
  • One brain, one portfolio. The prospectus states the fund depends heavily on Mohnish Pabrai and could not continue to operate in his absence.b-cdn.netb-cdn.net 2
  • Non-diversified by design: a few names can dominate, 25%+ can sit in one sector, and cash can stay large for extended stretches. Expect a bumpier ride than a world index.b-cdn.netwagonsetf.com

WAGN Performance

Launched Sep 29, 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.Not enough history yet.Not enough history yet.
WAGN$11,130
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. WAGN $11,130. SPY $10,141. Use the arrow keys to read each point.$10,000$10,500$11,000$11,500Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – 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 WAGN. Periods over one year show the average yearly return.
PeriodWAGN
Year to dateHistory unavailableNo data
1 month+7.3%
3 months+11.3%
1 yearHistory unavailableNo data
3 yearsHistory unavailableper 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 WAGN
YearReturn barWAGN
2026 YTD+11.4%

History from Feb 9, 2026

WAGN in the news

WAGN Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

WAGN Risk

Risk pillarD25 out of 100Rank 13 of 14 in Global Active Value
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.
0.43
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.

WAGN Cost

Compare WAGN and AVGV

Overpaying vs AVGV, cheapest in Global Active Value

$11,682

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

  • WAGN 0.90%

    $17,040

  • AVGV 0.26% Cheapest

    $5,358

$10,000
30 years

Cost over time

  • WAGN 0.90%
  • AVGV 0.26%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530WAGN $17,040AVGV $5,358

Year by year

YearWAGNAVGVOverpaying
10$1,593$473$1,120
20$6,015$1,838$4,177
30$17,040$5,358$11,682

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