RISN vs TOAO: Grades, Fees and Holdings Compared

Inspire Capital Appreciation ETF

RISNANYSE Arca

Twin Oak Active Opportunities III ETF

TOAODCboe

Overlap

2.5%by weight

Expense ratio

RISN −0.23pt a year

RISN0.72%TOAO0.95%

Avg volume · 30D

RISN 101.3×the volume

RISN14.8KTOAO146

RISN vs TOAO Performance

Aug 6, 2026 – Nov 6, 2026

−3.7%RISN−5.4%TOAO

Expense ratio: RISN 0.72%, better; TOAO 0.95%
Fund size: RISN $68M; TOAO $418M
1Y total return: RISN +4.7%; TOAO No data
Yield (12M): RISN 1.07%; TOAO No data
Holdings: RISN 52; TOAO 40
Avg volume (30D): RISN 14.8K sh, better; TOAO 146 sh
NAV per share: RISN $30.13; TOAO $25.65
52W range

ETF.net Grade

Pillar letters and Scores for RISN, TOAO, with each pillar’s weight
Pillar	RISN	TOAO
Cost30% weight	A76Higher	C44
Mission25% weight	A84	Not scored
Risk15% weight	C49Higher	C40
Tradability15% weight	B65Higher	F3
Holdings10% weight	A79Higher	A77
Durability5% weight	B68Higher	B61

Rank among Tactical Allocation funds

How we build Categories ›

Same Category. RISN and TOAO are both graded against the same 46 Tactical Allocation funds, so their Grades compare head to head.

Tactical Allocation⁠

Category · 46 funds

See all 46 ›

RISN ranks 3rd and TOAO 35th of 46 funds in the Tactical Allocation Category.

Rank 1AENDWCambria Endowment Style ETFScore 81
Rank 2APTBDPacer Trendpilot US Bond ETFScore 72
Rank 3ARISNInspire Capital Appreciation ETFScore 71
Rank 4APBLPGIM Portfolio Ballast ETFScore 70
Rank 35DGHTAGoose Hollow Tactical Allocation ETFScore 40
Rank 35DTOAOTwin Oak Active Opportunities III ETFScore 40
Rank 38CWBIGWBI BullBear Yield 3000 ETFScore 39

Our read on each fund

ETF.net Research

RISNAInspire Capital Appreciation ETF

TOAODTwin Oak Active Opportunities III ETF

In short

RISN A tactical blend of U.S. large-cap stocks and U.S. bonds from a values-screening shop, built to chase long-term growth with less turbulence than the large-cap market, at a fee below the typical tactical peer.

TOAO No data

Stated mandate

RISN The fund seeks long-term capital appreciation with lower volatility than the U.S. large-cap stock market.

TOAO No data

Why people hold it

RISN Charges 0.72% a year, under the going rate for tactical multi-asset funds that actively shift their mix.
One ticket holds U.S. large-cap equities alongside U.S. fixed income, with the stated aim of long-term appreciation at lower volatility than U.S. large caps.
One of the stronger implementations in a crowded tactical multi-asset field, with a live record going back to its 2020 launch.
Pays out quarterly, so the bond sleeve shows up as scheduled cash rather than a once-a-year surprise.

TOAO No data

Worth knowing

RISN Thinly traded and modest in size, so bid-ask spreads can matter more than the fee does. Limit orders are the standard workaround.
Tactical means judgment calls: the allocation can look nothing like a fixed stock/bond blend at any given moment.
Cheap for tactical, not cheap outright. Peers such as ENDW (0.22%) and ONOF (0.39%) run at a fraction of the fee.

TOAO No data

Full RISN profile⁠

Full TOAO profile⁠

RISN vs TOAO Holdings

How RISN and TOAO differ

Overlap by weight

2.5%

Shared holdings make up 7.6% of TOAO and 2.5% of RISN.

Level by level

Holdings2 in both2.5%
Sector11 Sectors41.8%
Countryby domicile71.7%
Asset classStocks100%

Sector

Sector weights in RISN and TOAO, widest gap first
Sector	Gap	RISN	TOAO
Technology	TOAO +45.2 points	10.3%	55.5%
Industrials	RISN +22.2 points	33.5%	11.3%
Energy	RISN +19.4 points	19.4%	0.0%
Materials	RISN +9.9 points	9.9%	0.0%
Communication	TOAO +6.3 points	1.6%	7.9%
Consumer Discretionary	TOAO +3.8 points	6.4%	10.2%
Financials	TOAO +2.9 points	10.5%	13.4%
Real Estate	RISN +2.1 points	2.1%	0.0%
Utilities	RISN +2.2 points	2.2%	0.0%
Consumer Staples	RISN +2.0 points	2.2%	0.2%
Health Care	RISN +0.5 points	1.9%	1.4%

Country, concentration and asset class

Country by domicile

Country weights in RISN and TOAO, widest gap first
Country	Gap	RISN	TOAO
United States	RISN +28.3 points	100.0%	71.7%
Netherlands	TOAO +10.0 points	0.0%	9.9%
Brazil	TOAO +5.6 points	0.0%	5.6%
Canada	TOAO +4.8 points	0.0%	4.8%
France	TOAO +4.2 points	0.0%	4.2%
Taiwan	TOAO +3.7 points	0.0%	3.7%
Other countries (2)	Same weight	0.0%	0.0%

Outside the US: TOAO 67% developed, 33% emerging.

Concentration

Weight in the 10 largest Holdings

RISN37.1%
TOAO58.3%

Securities held

RISN52
TOAO38

Asset class

RISN: Stocks
TOAO: Stocks

Holdings

Only in RISN50
In both2
Only in TOAO36

Only in RISN

50 securities, 97.6% of RISN by weight

Wisdomtree Float19.72%
Applovin Co-Cl A2.08%
Home Depot Inc2.00%
United Parcel-B1.95%
Republic Svcs1.92%
Automatic Data1.92%
Cintas Corp1.89%
Waste Management1.89%
Nasdaq Inc1.89%
Nextera Energy1.87%
3M Co1.87%
Crh PLC1.86%
Intercont Exch I1.85%
Mondelez Inter-A1.85%
Simon Property1.83%
Carvana Co1.83%
Aflac Inc1.81%
Fedex Corp1.81%
Progressive Corp1.80%
O'reilly Automot1.75%
Csx Corp1.75%
Linde PLC1.73%
Norfolk Southern1.70%
Fastenal Co1.69%
Eog Resources1.65%
Exxonmobil Holdi1.65%
Cheniere Energy1.63%
Delta Air Li1.63%
Slb Ltd1.63%
Nucor Corp1.60%
Occidental Pete1.59%
Iqvia Holdings I1.58%
Kinder Morgan In1.57%
Paccar Inc1.55%
Targa Resources1.55%
United Rentals1.52%
Parker Hannifin1.42%
Ametek Inc1.42%
Valero Energy1.40%
Southern Copper1.35%
Baker Hughes Co1.33%
Freeport-Mcmoran1.33%
Interactive Brok1.31%
Amphenol Corp-A1.30%
Kla Corp1.05%
Western Digital1.03%
Caterpillar Inc1.03%
Comfort Systems0.90%
Sandisk Corp0.75%
Bbh Sweep Vehicle0.52%

Only in TOAO

36 securities, 97.6% of TOAO by weight

Crowdstrike Holdings Inc8.85%
Amazon.com Inc7.84%
Microsoft Corp6.24%
NVIDIA Corp5.68%
ASML Holding NV5.60%
Shopify Inc5.13%
Airbus Group SE4.91%
Safran SA4.64%
Cloudflare Inc4.50%
Alphabet Inc4.32%
Advanced Micro Devices Inc4.12%
Meta Platforms Inc3.97%
Taiwan Semiconductor Manufacturing Co Ltd3.88%
Charles Schwab Corp/The3.68%
Visa Inc3.40%
MercadoLibre Inc3.22%
Moody's Corp2.94%
Arista Networks Inc2.50%
S&P Global Inc2.46%
NU Holdings Ltd/Cayman Islands2.44%
Uber Technologies Inc1.91%
Twin Oak Short Horizon Absolute Return ETF1.47%
UnitedHealth Group Inc1.35%
ServiceNow Inc0.85%
Avgo 01/15/2027 287.1 P0.37%
Goog 01/15/2027 296.69 P0.32%
Nvda 01/15/2027 168.93 P0.25%
Meta 01/15/2027 597.6 P0.22%
Asml 01/15/2027 1246.5 P0.18%
Shop 01/15/2027 123.93 P0.14%
Mobility Global Inc0.10%
Amzn 01/15/2027 215.1 P0.09%
Msft 01/15/2027 421.43 P0.03%
Net 01/15/2027 157.05 P0.03%
Crwd 01/15/2027 101.81 P0.02%
Boeing Co/The0.02%

Weight gaps

All 2 Holdings in both funds, largest gap first.

Holding weights in RISN and TOAO, widest gap first
Holding	More in RISNMore in TOAO	Gap	RISN	TOAO
Broadcom IncAVGO		TOAO +3.62 points	1.28%	4.90%
Ge Vernova IncGEV		TOAO +1.44 points	1.23%	2.67%

All RISN holdings⁠All 50 TOAO 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.

RISN vs TOAO Cost

Overpaying TOAO vs RISN

$3,912

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

RISN 0.72%
$13,957
TOAO 0.95%
$17,869

Amount$10,000

Years30 years

Cost over time

RISN 0.72%
TOAO 0.95%
Overpaying

Year by year

Year	RISN	TOAO	Overpaying
10	$1,284	$1,678	$394
20	$4,888	$6,322	$1,434
30	$13,957	$17,869	$3,912

Expense ratio

0.72%RISN, cheaper
0.95%TOAO

RISN0.72%TOAO0.95%

0.22%1.99%

Middle half of Tactical Allocation funds
Median 0.93%

RISN 12th cheapest of 46 funds

TOAO 25th cheapest of 46 funds

RISN vs TOAO Dividends

Last 12 months to Nov 6, 2026

Yield (12M): RISN 1.07%; TOAO No data
Payout (12M): RISN $0.32; TOAO None
Last payment: RISN $0.08; TOAO No data
Ex-dividend: RISN Sep 25, 2026; TOAO No data
Paid on: RISN Oct 1, 2026; TOAO No data
Frequency: RISN Quarterly; TOAO No data

Distribution history

Per share, 2020 to 2026, same scale for both

RISNQuarterly · 24 paymentsAll RISN payments⁠

TOAOAll TOAO payments⁠

No distribution history available.

RISN vs TOAO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: RISN 11.4%TOAO No data
Return per unit of riskSharpe ratio, 3 years: RISN 0.77TOAO No data
Worst fallMax drawdown, 5 years: RISN −21.9%TOAO No data
Market sensitivityBeta, 5 years: RISN 1.08TOAO 0.22; Market = 1

RISN and TOAO in the news

All news⁠

ETF Filings
Twin Oak funds holding more than half of TOAK now say they will vote for the move
11 hours agoTOAO

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RISN vs TOAO

In short

Stated mandate

Why people hold it

Worth knowing

How RISN and TOAO differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in RISN

Only in TOAO

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Twin Oak funds holding more than half of TOAK now say they will vote for the move

How RISN and TOAO differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in RISN

Only in TOAO

Weight gaps