OCIO vs UCBG: Grades, Fees and Holdings Compared

ClearShares OCIO ETF

OCIOBNYSE Arca

State Street SPDR UC Investments 90/10 Endowment Strategy Index ETF

UCBGANYSE Arca

Overlap

7.0%by weight

Expense ratio

UCBG −0.59pt a year

OCIO0.65%UCBG0.06%

Avg volume · 30D

UCBG 1586.9×the volume

OCIO2.62KUCBG4.15M

OCIO vs UCBG Performance

Sep 30, 2026 – Oct 30, 2026

−2.1%OCIO−0.9%UCBG

Expense ratio: OCIO 0.65%; UCBG 0.06%, better
Fund size: OCIO $168M; UCBG $2.52B
1Y total return: OCIO +8.1%; UCBG No data
Yield (12M): OCIO 9.49%; UCBG No data
Holdings: OCIO 62; UCBG 868
Avg volume (30D): OCIO 2.62K sh; UCBG 4.15M sh, better
NAV per share: OCIO $36.99; UCBG $50.56
52W range

ETF.net Grade

Pillar letters and Scores for OCIO, UCBG, with each pillar’s weight
Pillar	OCIO	UCBG
Cost30% weight	C44	A100Higher
Mission25% weight	A92	A99Higher
Risk15% weight	C47	Not scored
Tradability15% weight	D37	A99Higher
Holdings10% weight	A83Higher	A79
Durability5% weight	B67Higher	B66

Rank among Multi-Asset Allocation funds

How we build Categories ›

Same Category. OCIO and UCBG are both graded against the same 37 Multi-Asset Allocation funds, so their Grades compare head to head.

Multi-Asset Allocation⁠

Category · 37 funds

See all 37 ›

UCBG ranks 1st and OCIO 12th of 37 funds in the Multi-Asset Allocation Category.

Rank 1AUCBGState Street SPDR UC Investments 90/10 Endowment Strategy Index ETFScore 95
Rank 2AAOAiShares Core 80/20 Aggressive Allocation ETFScore 88
Rank 10BTBFGBrinsmere Fund Growth ETFScore 61
Rank 12BOCIOClearShares OCIO ETFScore 60
Rank 12BRMHYGlobal X Adaptive Risk Managed Yield ETFScore 60

Our read on each fund

ETF.net Research

OCIOBClearShares OCIO ETF

UCBGAState Street SPDR UC Investments 90/10 Endowment Strategy Index ETF

In short

OCIO Endowment boards hire an outsourced CIO to run the money. OCIO bottles that idea in an ETF: an active, go-anywhere basket of other ETFs that seeks to outperform a plain global 60/40, for 0.65% net of a waiver through September 30, 2027.

UCBG No data

Stated mandate

OCIO The Fund seeks to outperform a traditional 60/40 portfolio of global equities and fixed-income investments.

UCBG No data

Why people hold it

OCIO Active where the shelf is mostly static: managers can move across global stocks, bonds and other ETFs (roughly 70 positions) instead of riding a fixed allocation.sec.gov
Adviser Clearbrook runs outsourced-CIO mandates for institutions, and charges the fund a single unified management fee rather than billing expenses piecemeal.sec.gov
Trading since 2017, so the approach has a real multi-year track record through several rate and equity cycles, not a backtest.
Sticks closely to its stated job of beating a global 60/40, and sits among the stronger implementations in its allocation peer group. Pays quarterly.

UCBG No data

Worth knowing

OCIO 0.65% net of a waiver through September 30, 2027 is above the allocation category median; index-built rivals like AOA run 0.15%, net of a waiver through November 30, 2026.
Results ride on the manager's calls rather than an index, and as a fund of funds you also carry the costs of the ETFs it holds.sec.gov
A smaller, thinly traded fund next to the category's giants, so spreads can be wider and limit orders do more work.

UCBG No data

Full OCIO profile⁠

Full UCBG profile⁠

OCIO vs UCBG Holdings

How OCIO and UCBG differ

Overlap by weight

7.0%

Shared holdings make up 46.1% of UCBG and 7.0% of OCIO.

Level by level

Holdings24 in both7.0%
Countryby domicile77.7%
Sector11 Sectors92.6%

Sector

Sector weights in OCIO and UCBG, widest gap first
Sector	More in OCIOMore in UCBG	OCIO	UCBG
Communication	UCBG +3.3 points	6.6%	9.9%
Industrials	OCIO +2.8 points	10.4%	7.6%
Financials	OCIO +2.0 points	13.2%	11.2%
Technology	UCBG +1.7 points	38.7%	40.4%
Materials	OCIO +1.5 points	3.1%	1.6%
Consumer Discretionary	UCBG +1.4 points	7.4%	8.8%
Health Care	UCBG +1.0 points	8.3%	9.3%
Energy	OCIO +0.8 points	4.2%	3.4%
Consumer Staples	UCBG +0.2 points	4.1%	4.3%
Utilities	OCIO +0.1 points	2.0%	1.9%
Real Estate	UCBG +0.1 points	1.6%	1.7%

Country, concentration and asset class

Country by domicile

Country weights in OCIO and UCBG, widest gap first
Country	More in OCIOMore in UCBG	OCIO	UCBG
United States	UCBG +21.1 points	74.9%	96.0%
Japan	OCIO +3.7 points	4.0%	0.3%
Taiwan	OCIO +3.2 points	3.2%	0.0%
South Korea	OCIO +1.8 points	1.8%	0.0%
China	OCIO +1.3 points	1.3%	0.0%
Switzerland	OCIO +1.2 points	1.5%	0.3%
Germany	OCIO +1.2 points	1.2%	0.0%
United Kingdom	OCIO +1.2 points	2.1%	0.9%
Other countries (33)	OCIO +7.6 points	10.1%	2.5%

Outside the US: OCIO 65% developed, 35% emerging.

Concentration

Weight in the 10 largest Holdings

OCIO48.6%
UCBG33.6%

Securities held

OCIO61
UCBG866

Asset class

OCIO: Equity
UCBG: Multi-Asset

Holdings

Only in OCIO37
In both24
Only in UCBG842

Only in OCIO

37 securities, 93.0% of OCIO by weight

Invesco QQQ Trust Series 16.73%
Vanguard Morningstar Value ETF6.02%
Vanguard Ftse Developed Etf5.53%
Vanguard Morningstar Total Stock Market ETF4.76%
State Street SPDR S&P 500 ETF Trust4.67%
iShares Core S&P 500 ETF4.56%
WisdomTree Floating Rate Treasury Fund4.43%
Vanguard S&P 500 ETF4.28%
VanEck Commodity Strategy ETF4.00%
iShares 1-3 Year Treasury Bond ETF3.61%
Schwab International Equity ETF3.52%
iShares Currency Hedged MSCI EAFE ETF3.44%
Clearshares Ultra-Short Maturity ETF3.33%
State Street SPDR Portfolio S&P 1500 Composite Sto3.05%
Vanguard Morningstar Large-Cap ETF2.98%
iShares 0-5 Year TIPS Bond ETF2.85%
Vanguard Information Technology ETF2.78%
Vanguard FTSE Emerging Markets ETF2.67%
iShares 3-7 Year Treasury Bond ETF2.10%
Vanguard Morningstar Growth ETF2.01%
Vanguard High Dividend Yield ETF1.81%
Invesco Dorsey Wright Emerging Markets Momentum ET1.64%
iShares Russell Mid-Cap Growth ETF1.42%
iShares MSCI USA Momentum Factor ETF1.38%
iShares Russell 1000 Growth ETF1.27%
iShares Core U.S. Aggregate Bond ETF1.14%
iShares MSCI Emerging Markets ex China ETF0.92%
First American Government Obligations Fund 12/01/20.88%
DoubleLine Commodity Strategy ETF0.77%
Invesco Optimum Yield Diversified Commodity Strate0.77%
AB Disruptors ETF0.74%
iShares Core S&P Mid-Cap ETF0.73%
iShares Russell 2000 ETF0.56%
Roundhill Memory ETF0.53%
iShares Semiconductor ETF0.49%
Conductor Global Equity Value ETF0.47%
iShares Core S&P Small-Cap ETF0.19%

Only in UCBG

842 securities, 53.6% of UCBG by weight

Palantir Technologies Inc A0.61%
Cisco Systems Inc0.58%
Procter & Gamble Co/The0.50%
UnitedHealth Group Inc0.50%
Merck & Co. Inc.0.49%
Coca Cola Co/The0.49%
Applied Materials Inc0.45%
Bank of America Corp0.45%
Home Depot Inc0.44%
Philip Morris International0.44%
General Electric0.44%
Lam Research Corp0.43%
Palo Alto Networks Inc0.42%
Texas Instruments Inc0.38%
Goldman Sachs Group Inc0.37%
Rtx Corp0.36%
Crowdstrike Holdings Inc A0.36%
Thermo Fisher Scientific Inc0.35%
Netflix Inc0.35%
Wells Fargo & Co0.35%
Amgen Inc0.34%
Intl Business Machines Corp0.33%
Oracle Corp0.32%
Ge Vernova Inc0.32%
Linde PLC0.31%
Morgan Stanley0.30%
Kla Corp0.30%
Analog Devices Inc0.29%
Citigroup Inc0.28%
Gilead Sciences Inc0.28%
Amphenol Corp Class A0.27%
Qualcomm Inc0.27%
Sandisk Corp0.26%
Marvell Technology Inc0.26%
Walt Disney Co/The0.26%
Arista Networks Inc0.26%
Salesforce Inc0.26%
Pepsico Inc0.25%
McDonald’s Corp0.25%
Verizon Communications Inc0.24%
Abbott Laboratories0.24%
Conocophillips0.24%
Union Pacific Corp0.24%
Nextera Energy Inc0.23%
Pfizer Inc0.23%
BlackRock Inc0.23%
American Express Co0.23%
Deere & Co0.22%
Welltower Inc0.22%
Intuitive Surgical Inc0.22%

Weight gaps

All 24 Holdings in both funds, largest gap first.

Holding weights in OCIO and UCBG, widest gap first
Holding	More in OCIOMore in UCBG	OCIO	UCBG
Apple IncAAPL	UCBG +5.72 points	1.17%	6.89%
NVIDIA CorpNVDA	UCBG +5.66 points	1.33%	6.99%
Microsoft CorpMSFT	UCBG +4.33 points	0.99%	5.32%
Amazon.com IncAMZN	UCBG +2.90 points	0.34%	3.24%
Alphabet IncGOOGL	UCBG +2.12 points	0.13%	2.25%
Broadcom IncAVGO	UCBG +1.98 points	0.23%	2.21%
Alphabet IncGOOG	UCBG +1.69 points	0.12%	1.81%
Meta Platforms IncMETA	UCBG +1.53 points	0.33%	1.86%
Tesla IncTSLA	UCBG +1.42 points	0.12%	1.54%
Eli Lilly & CoLLY	UCBG +1.24 points	0.25%	1.49%
Micron Technology IncMU	UCBG +1.17 points	0.26%	1.43%
Berkshire Hathaway IncBRK.B	UCBG +1.10 points	0.26%	1.36%
Advanced Micro Devices IncAMD	UCBG +1.07 points	0.18%	1.25%
JPMorgan Chase & Co.JPM	UCBG +0.99 points	0.24%	1.23%
ExxonMobil Holdings CorpXOM	UCBG +0.84 points	0.18%	1.02%
Visa IncV	UCBG +0.80 points	0.15%	0.95%
Johnson & JohnsonJNJ	UCBG +0.74 points	0.16%	0.90%
Walmart IncWMT	UCBG +0.66 points	0.07%	0.73%
Mastercard IncMA	UCBG +0.59 points	0.11%	0.70%
AbbVie IncABBV	UCBG +0.58 points	0.12%	0.70%
Intel CorpINTC	UCBG +0.56 points	0.06%	0.62%
Costco Wholesale CorpCOST	UCBG +0.54 points	0.06%	0.60%
Chevron CorpCVX	UCBG +0.52 points	0.10%	0.62%
Caterpillar IncCAT	UCBG +0.36 points	0.04%	0.40%

All 74 OCIO holdings⁠All 503 UCBG holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

OCIO vs UCBG Cost

Overpaying OCIO vs UCBG

$11,447

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

OCIO 0.65%
$12,717
UCBG 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

OCIO 0.65%
UCBG 0.06%
Overpaying

Year by year

Year	OCIO	UCBG	Overpaying
10	$1,163	$110	$1,053
20	$4,440	$432	$4,008
30	$12,717	$1,270	$11,447

Expense ratio

0.65%OCIO
0.06%UCBG, cheaper

UCBG0.06%OCIO0.65%

0.06%1.36%

Middle half of Multi-Asset Allocation funds
Median 0.57%

UCBG cheapest of 37 funds

OCIO 20th cheapest of 37 funds

OCIO vs UCBG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): OCIO 9.49%; UCBG No data
Payout (12M): OCIO $3.51; UCBG No data
Last payment: OCIO $0.11; UCBG $0.04
Ex-dividend: OCIO Sep 29, 2026; UCBG Sep 21, 2026
Paid on: OCIO Sep 30, 2026; UCBG Sep 23, 2026
Frequency: OCIO Quarterly; UCBG Irregular

Distribution history

Per share, 2017 to 2026, same scale for both

OCIOQuarterly · 30 paymentsAll OCIO payments⁠

UCBGIrregular · 1 paymentAll UCBG payments⁠

OCIO vs UCBG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: OCIO 8.5%UCBG No data
Return per unit of riskSharpe ratio, 3 years: OCIO 1.09UCBG No data
Worst fallMax drawdown, 5 years: OCIO −17.2%UCBG No data
Market sensitivityBeta, 5 years: OCIO 0.84UCBG 0.00; Market = 1

OCIO and UCBG in the news

All news⁠

Category Review
The fund built to limit losses had the category's worst return
Sep 25, 2026UCBG
ETF Filings
Leverage Shares files 2x shorts on ByteDance and Canva
Sep 6, 2026UCBG

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OCIO vs UCBG

In short

Stated mandate

Why people hold it

Worth knowing

How OCIO and UCBG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in OCIO

Only in UCBG

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The fund built to limit losses had the category's worst return

Leverage Shares files 2x shorts on ByteDance and Canva

How OCIO and UCBG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in OCIO

Only in UCBG

Weight gaps