IQ

TOAO · Twin Oak Active Opportunities III ETF

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$26.51
+1.4% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

TOAO returned +4.7% since it first traded on Apr 24, 2026.

What drove TOAO’s returns?What can TOAO’s first months tell me?What does TOAO cost to hold and to trade?
Equity fundExpense ratio 0.95%Fund assets $443m net assets, latest filing (Aug 31, 2026)First traded Apr 24, 2026Benchmark Its own holdings, as of Aug 31, 2026; its prospectus names no index it tracksSEC filings ↗

TOAO returned +4.7% from Apr 24, 2026 to Nov 4, 2026, charges 0.95% a year and holds $443m in net assets on Aug 31, 2026.

Promise check: Not measuredIt names no index it tracks.

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

TOAO risk and return scorecard

Not measured: no scorecard was computed for this fund.

Method

What you earned

TOAO −4.7%: total return over one month to Nov 4, 2026.
TOAO−4.7%
TOAO −2.8%: total return over three months to Nov 4, 2026.
TOAO−2.8%
TOAO +2.4%: total return over six months to Nov 4, 2026.
TOAO+2.4%
TOAO +4.7%: total return since launch to Nov 4, 2026.
TOAO+4.7%
askIQ: what drove TOAO’s returns? ↗

What can be shown yet

First traded Apr 24, 2026
+4.7%
Total return, since launch, Apr 24, 2026
Report
0.95%
Expense ratio
Report
28
Holdings
Report
−5.4%
Below its high
Report
TOAO has traded for 194 days. Numbers that need a year of prices are not shown yet.
Shown now
Price$26.51
First tradedApr 24, 2026
Net assets$443m
TOAO, Aug 31, 2026 to Nov 2, 2026−4.67%
Not yet
One-year returnfrom Apr 24, 2027
Three-year returnfrom Apr 24, 2029
askIQ: what can TOAO’s first months tell me? ↗

More on TOAO

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Price since launch, Apr 24, 2026

$26.51+1.4%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.

TOAO returns by window: total return, cash paid and price change
WindowTotal returnS&P 500 (SPY)
1M Oct 5 – Nov 4, 2026−4.7%−1.0%
3M Aug 5 – Nov 4, 2026−2.8%−0.1%
6M May 6 – Nov 4, 2026+2.4%+5.0%
Since launch Apr 24 – Nov 4, 2026+4.7%+7.9%

Total returns, distributions reinvested. Listed Apr 2026: no year to date, 1 year and 3 years windows.

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

TOAO key stats

High since Apr 24, 2026, daily closes to Nov 4, 2026 (ETFIQ)$28.01 on Oct 6, 2026
Low since Apr 24, 2026, daily closes to Nov 4, 2026 (ETFIQ)$25.06 on Jun 10, 2026
Close on Nov 4, 2026, within that range (ETFIQ)$26.51, 49% of the way from the low to the high
Holdings28
Top ten weight58.2%
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Nov 4, 2026
Trading · TOAOas of Nov 4, 2026
·
Not scored0 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 →

TOAO 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%
TOAO interest-related and short-term gain dividendsnot read by ETFIQ
US estate tax filing threshold, non-resident holders$60,000
Share classDistributing

TOAO 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

TOAO top ten by weight, 58.2% of the fund, of its 27 equity positions, from the holdings filed for Aug 31, 2026. Source: the fund’s SEC filing.

Crowdstrike Holdings Inc CRWD 8.66%
Amazon.com Inc AMZN 7.17%
ASML Holding NV ASML 6.11%
NVIDIA Corp NVDA 6.10%
Broadcom Inc AVGO 5.66%
Microsoft Corp MSFT 5.44%
Safran SA SAF 5.04%
Airbus SE AIR 4.70%
Cloudflare Inc NET 4.69%
Shopify Inc SHOP 4.66%
Fund filings on SEC EDGAR ↗See all 28 holdings →Check overlap with another fund →

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

About TOAO

Fund typeEquity fund
Category (ETFIQ)Stocks · Global large-cap growth
Expense ratio (497 XBRL, Jan 5, 2026)0.95%
Price$26.51
First tradedApr 24, 2026
Net assets (SEC filing, whole fund, as filed for Aug 31, 2026)$443mReport
Benchmark (ETFIQ, from its filings)Its own holdings, as of Aug 31, 2026; its prospectus names no index it tracksReport
TOAO, Aug 31, 2026 to Nov 2, 2026−4.67%
Its book of Aug 31, 2026, the same days (ETFIQ, measured on 82% of the book by weight)−5.98%
Against its own holdings (ETFIQ)+1.31 pts
Below its high (ETFIQ)−5.4%
Holdings28
Top ten weight58.2%
Cash, not in the top ten−4.3%
Holdings as of (SEC N-PORT)Aug 31, 2026
Already in the S&P 500, by weight (ETFIQ)63.6%
Active share vs the S&P 500 (ETFIQ)74.0%
Already in the Nasdaq-100, by weight (ETFIQ)57.1%
IQ Investment Committee on TOAO

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

In the tradition ofJohn BogleBogle-style Low CostChallenges
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyChallenges
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityChallenges
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 & RiskNot enough data
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 seatNot enough data
Put TOAO to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about TOAO

What does TOAO cost?
The prospectus expense ratio is 0.95% a year.
What does TOAO hold?
28 positions as filed for Aug 31, 2026, with the top ten at 58.2% of the fund. 64% of its weight is in stocks the S&P 500 also holds.
How far is TOAO below its high?
5.4% below its high of Oct 6, 2026, measured on the reinvested series to Nov 4, 2026.
Sources and dates
Prices, TOAO and S&P 500 (SPY)Tiingo end-of-day · Nov 4, 2026
Fee, 0.95%Prospectus filing with the expense ratio (SEC) ↗
Net assets, $443mSEC filing, whole fund · Aug 31, 2026
HoldingsHoldings filing (SEC Form N-PORT) · Aug 31, 2026 ↗
IssuerTwin Oak ETF website ↗
All fund filingsFund filings on SEC EDGAR ↗
Twin Oak ETF’s own site ↗

Links are sources, not endorsements.

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

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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TOAO: TOAO over 6 months: total return +2.4%. Data to Nov 4, 2026.
<figure style="margin:0;max-width:640px">
<iframe src="https://etfiq.com/embed/core/toao/" title="TOAO: TOAO over 6 months: total return +2.4%. 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">TOAO: TOAO over 6 months: total return +2.4%. Data to Nov 4, 2026. Data: <a href="https://etfiq.com/funds/toao">ETFIQ</a></figcaption>
</figure>

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