HWAY
Themes US Infrastructure ETF
The Themes US Infrastructure ETF seeks to provide investors with exposure to companies involved in the development, maintenance, and management of infrastructure within the United States.
US
EQUITY
Passive
MANAGEMENT STYLE
0.8 M
ASSETS UNDER MGMT
29 bp
EXPENSES
Fund Basics
| Fund sponsor | Themes |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 11, 2024 |
| Assets (mns) | $1 |
| Expense ratio | 29 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| EMERSON ELECTRIC CO | 5.1 % |
| CRH PLC | 4.8 % |
| DEERE & CO | 4.6 % |
| UNION PACIFIC CORP | 4.3 % |
| CSX CORP | 4.2 % |
| CATERPILLAR INC | 4.1 % |
| NORFOLK SOUTHERN CORP | 4.0 % |
| UNITED RENTALS INC | 3.7 % |
| WW GRAINGER INC | 3.7 % |
| QUANTA SERVICES INC | 3.6 % |
Constituent Breakdown
| Number of holdings | 101 |
| Herfindahl-Hirschman Index | 253 |
| Wgt avg mkt cap (mns) | $53,583 |
| Large cap (>$10bn) | 78.6% |
| Mid cap ($2-10bn) | 20.4% |
| Small cap (<$2bn) | 1.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 95.0 % |
 |
IRELAND | 4.8 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 9.8% | -- | -- | -- | -- | -- | 9.8% | Volatility | -- | -- | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.00% |
| ADV of underlying (mns) | $8,642 |
Technical Indicators
| Recent close | $27.23 |
| 30d moving avg. | $28.92 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 0 |
| Short interest (ETF) | 0.5% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. HWAY |
Expenses vs. HWAY |
ALTAR Score™ vs. HWAY |
|---|---|---|---|---|
| PAVE | Global X U.S. Infrastructure Development ETF | 54.4% | +18 bp | -0.8% |
| FIDU | Fidelity MSCI Industrial Index ETF | 24.9% | -21 bp | -1.6% |
| IFRA | iShares U.S. Infrastructure ETF | 24.3% | +1 bp | +0.1% |
| VIS | Vanguard Industrials ETF | 23.6% | -19 bp | -2.0% |
| XLI | Industrial Select Sector SPDR Fund | 23.0% | -20 bp | -2.0% |
| RBLD | First Trust Alerian US NextGen Infrastructure ETF | 22.5% | +36 bp | -1.3% |
| FXR | First Trust Industrials/Producer Durables AlphaDEX Fund | 22.4% | +32 bp | +0.1% |
| RSHO | Tema American Reshoring ETF | 21.9% | +46 bp | -2.7% |
| RSPN | Invesco S&P 500 Equal Weight Industrials ETF | 20.4% | +11 bp | -2.2% |
| FMAT | Fidelity MSCI Materials Index ETF | 18.1% | -21 bp | +0.5% |
Risk and Returns: HWAY vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/18/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
HWAY
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
HWAY
6.4%
Cat. Avg
5.7%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.6%. HWAY's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places HWAY in the 62nd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
HWAYSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive US Equity ETFs |
| # of ETFs | 192 |
| Avg. Expense Ratio | 31.0 bp |
| Std. Deviation | 25.7 bp |
| HWAY (29 bp) Percentile rank | 46 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| HWAY | 29.0 | 0.0 | 29 |
| Peer Avg. | 37.3 | 15.0 | 52.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .