IQ

RW · Rainwater Equity ETF

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$25.87
+1.6% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

RW is actively managed and returned +2.1% over the past year.

Why did RW return −1.8% from Jun 2025 to Oct 2026, against VOO’s +24.7%?Is a 0.95% fee low for a fund like RW?What does RW cost to hold and to trade?
Equity fund · Actively managedExpense ratio 0.95%Fund assets $17m net assets, latest filing (Jul 31, 2026)First traded Jun 18, 2025Benchmark S&P 500 Index, measured by VOO, which tracks the same indexSEC filings ↗Dividend history

RW returned +2.1% over the year to Nov 4, 2026, charges 0.95% a year and holds $17m in net assets on Jul 31, 2026.

Promise check: Not measuredIt names no index it tracks.

Compare with…Trading costsPut to the committeeaskIQ about RWAdd to portfolioOverlapAlerts

RW risk and return scorecard

vs VOO · Jun 2025 to Oct 2026 · 70 weekly returns · dividend-adjusted

Short history · 16 months
RW −1.8%, VOO +24.7%, Jun 2025 to Oct 2026, distributions reinvested.
Return
MeasureRWVOOEdge
Total return−1.8%+24.7%VOO
Annualized−1.3%+17.8%VOO
Price return−1.9%+22.6%VOO
Risk
MeasureRWVOOEdge
Volatility14.1%11.5%VOO
Max drawdown−16.1%−8.4%VOO
Upside capture51.0%100.0%VOO
Downside capture103.0%100.0%VOO (slight)
Risk-adjusted
MeasureRWVOOEdge
Sharpe ratio−0.301.15VOO
Sortino ratio−0.431.94VOO
Alpha vs VOO
MeasureRWVOOEdge
Alpha, a year−15.8%Not significant
Alpha t-stat−1.81
Beta to VOO0.881.00Lower beta

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

What you earned

RW +4.9%, VOO −1.1%: total return over one month to Nov 4, 2026.
RW+4.9%
VOO−1.1%
RW −1.2%, VOO −0.1%: total return over three months to Nov 4, 2026.
RW−1.2%
VOO−0.1%
RW +3.4%, VOO +5.0%: total return over six months to Nov 4, 2026.
RW+3.4%
VOO+5.0%
RW +4.2%, VOO +13.4%: total return over the year to Nov 4, 2026.
RW+4.2%
VOO+13.4%
RW +2.1%, VOO +14.8%: total return over one year to Nov 4, 2026.
RW+2.1%
VOO+14.8%
RW +4.2%, VOO +30.6%: total return since launch to Nov 4, 2026.
RW+4.2%
VOO+30.6%
askIQ: why did RW return +2.1% over one year, against VOO’s +14.8%? ↗

How concentrated, and what does it cost?

No index, actively managed
+2.1%
Total return, 1 year
Report
0.95%
Expense ratio
Report
33
Holdings
Report
−2.1%
Below its high
Report
$0.0255
Last payment, ex-date Sep 29, 2025
Report
Sector mix
Cost against like funds
askIQ: is a 0.95% fee low for a fund like RW? ↗

More on RW

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Price, 1 year

$25.87+1.6%1 day, priceClose, Nov 4, 2026

Price only. No distribution was paid over these days, so total return is the same. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Nov 4, 2026. Updated every trading night. Report a data error

Points (pts) are percentage points.

RW returns by window: total return, cash paid and price change
WindowTotal returnBenchmark (VOO)Gap to VOO
1M Oct 5 – Nov 4, 2026+4.9%−1.1%+6.0 pts
3M Aug 5 – Nov 4, 2026−1.2%−0.1%−1.1 pts
6M May 6 – Nov 4, 2026+3.4%+5.0%−1.6 pts
YTD Dec 31, 2025 – Nov 4, 2026+4.2%+13.4%−9.2 pts
1Y Nov 4, 2025 – Nov 4, 2026+2.1%+14.8%−12.7 pts
Since launch Jun 18, 2025 – Nov 4, 2026+4.2%+30.6%−26.4 pts
Since launch, annualised Jun 18, 2025 – Nov 4, 2026+3.0%––

Total returns, distributions reinvested. Listed Jun 2025: no 3 years windows.

Source: Tiingo end-of-day prices, with distributions reinvested.

RW key stats

52-week high, daily closes to Nov 4, 2026 (ETFIQ)$26.40 on Jan 15, 2026
52-week low, daily closes to Nov 4, 2026 (ETFIQ)$21.91 on Mar 30, 2026
Close on Nov 4, 2026, within that range (ETFIQ)$25.87, 88% of the way from the low to the high
Holdings33
Top ten weight47.9%
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Nov 4, 2026
Trading · RWas of Nov 4, 2026
·
Not scored1 of 6 measured · Nov 4, 2026
0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant
Cost for your order · one way, half its 30-day median spread
How to tradeSpread not read.
Full trading page: components, premium history, dealers →

RW for holders outside the US

US tax withheld on dividends, no treaty30%
Treaty rates on dividends (IRS table, read Oct 30, 2026)65 countries, 10% to 30%
RW interest-related and short-term gain dividendsnot read by ETFIQ
US estate tax filing threshold, non-resident holders$60,000
Share classDistributing

RW is a US fund. Stock of US corporations counts as US property for a non-resident's estate. Facts from the IRS, not tax advice. How withholding and treaties work
Download all holdings

RW top ten by weight, 47.9% of the fund, of its 32 equity positions, from the holdings filed for Jul 31, 2026. Source: the fund’s SEC filing.

Loar Holdings Inc LOAR 6.85%
HEICO Corp HEI 6.80%
Diploma PLC DPLM LON 5.98%
Berkshire Hathaway Inc BRK.B 5.11%
GE AEROSPACE GE 4.50%
Constellation Software Inc CSU CN 4.36%
Apple Inc AAPL 4.35%
AMETEK Inc AME 3.47%
Alphabet Inc GOOGL 3.32%
Mastercard Inc MA 3.11%
Fund filings on SEC EDGAR ↗See all 33 holdings →Check overlap with another fund →

Source: Holdings filing (SEC Form N-PORT). Data as of Jul 31, 2026. Updated when the fund files its next report.

About RW

What it tracksNo index, actively managed
Fund typeEquity fund
Category (ETFIQ)Stocks · U.S. large-cap growth
Expense ratio (497 XBRL, Jul 17, 2026)0.95%
Price$25.87
First tradedJun 18, 2025
Net assets (SEC filing, whole fund, as filed for Jul 31, 2026)$17mReport
Benchmark (ETFIQ, from its filings)S&P 500 Index, measured by VOO, which tracks the same index
Benchmark named inits shareholder report, N-CSR, Mar 31, 2026
RW, 1 year to Nov 4, 2026+2.1%
VOO, the same days+14.8%
Against its benchmark, 1 year (ETFIQ)−12.7 pts
Below its high (ETFIQ)−2.1%
Holdings33
Top ten weight47.9%
Cash, not in the top ten6.1%
Holdings as of (SEC N-PORT)Jul 31, 2026
Already in the S&P 500, by weight (ETFIQ)51.2%
Active share vs the S&P 500 (ETFIQ)82.4%
Already in the Nasdaq-100, by weight (ETFIQ)19.7%
IQ Investment Committee on RW

12 seats on RW, as of Nov 4, 2026: 4 Mixed, 6 Challenges, 2 Not enough data.

In the tradition ofJohn BogleBogle-style Low CostMixed
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyChallenges
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityMixed
In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data
In the tradition ofJohn TempletonTempleton-style Global ContrarianChallenges
In the tradition ofRay DalioDalio-style All-WeatherNot enough data
In the tradition ofHoward MarksMarks-style Cycles & RiskChallenges
In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityChallenges
In the tradition ofDavid SwensenSwensen-style DiversificationMixed
In the tradition ofCathie WoodWood-style Disruptive InnovationChallenges
In the tradition ofJesse LivermoreLivermore-style Trend FollowingMixed
Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatChallenges
Put RW to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about RW

How has RW performed?
Over the year to Nov 4, 2026, RW returned +2.1% with distributions reinvested, against +14.8% for the S&P 500.
What does RW cost?
The prospectus expense ratio is 0.95% a year.
What does RW hold?
33 positions as filed for Jul 31, 2026, with the top ten at 47.9% of the fund. 51% of its weight is in stocks the S&P 500 also holds.
How far is RW below its high?
2.1% below its high of Jul 25, 2025, measured on the reinvested series to Nov 4, 2026.
Sources and dates
Prices, RW and Benchmark (VOO)Tiingo end-of-day · Nov 4, 2026
Fee, 0.95%Prospectus filing with the expense ratio (SEC) ↗
Net assets, $17mSEC filing, whole fund · Jul 31, 2026
HoldingsHoldings filing (SEC Form N-PORT) · Jul 31, 2026 ↗
IssuerRainwater Equity website ↗
All fund filingsFund filings on SEC EDGAR ↗
Rainwater Equity’s own site ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →
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ETFIQ, RW, stock fund, data as of Nov 4, 2026. https://etfiq.com/funds/rw

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

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RW: RW over 1 year: total return +2.1%, its benchmark S&P 500 Index through VOO +14.8%, −12.7 pts. Data to Nov 4, 2026.
<figure style="margin:0;max-width:640px">
<iframe src="https://etfiq.com/embed/core/rw/" title="RW: RW over 1 year: total return +2.1%, its benchmark S&amp;P 500 Index through VOO +14.8%, −12.7 pts. Data to Nov 4, 2026." width="640" height="370" loading="lazy" style="border:0;max-width:100%;width:100%"></iframe>
<figcaption style="font:13px/1.5 sans-serif">RW: RW over 1 year: total return +2.1%, its benchmark S&amp;P 500 Index through VOO +14.8%, −12.7 pts. Data to Nov 4, 2026. Data: <a href="https://etfiq.com/funds/rw">ETFIQ</a></figcaption>
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