TrueShares Eagle Glbl Rnwbls Engy IncETF earns a Morningstar Medalist Rating of Neutral with strength in areas such as People offset by weaker spots such as Process. The portfolio maintains a cost advantage over competitors, priced within the second-lowest fee quintile among peers.  

 The strategy merits a Below Average Process Pillar rating. The management team's large personal investment in the strategy helps it earn an Above Average People Pillar rating. The strategy's parent organization is industry standard, albeit with some strong attributes like a high average Morningstar Rating, but is held back by discontinuity among portfolio managers. This earns the firm an Average Parent Pillar rating.

Analyst Rating

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Morningstar's evaluation of this security's process aims to determine the likelihood that it will outperform its Morningstar Category index on a risk-adjusted basis over the long term. TrueShares Eagle Glbl Rnwbls Engy IncETF earns a Below Average Process Pillar rating. 

The process is bolstered by its parent firm's impressive long-term risk-adjusted performance, as shown by the firm's average overall Morningstar Rating of 4.0 stars. However, the rating is weakened by the turnover of management across its parent firm. The firm's asset-weighted manager tenure of three years suggests it could do more to retain portfolio managers. Being an actively managed strategy also detracts from the process. Historical data, such as Morningstar's Active/Passive Barometer, shows that actively managed funds have generally underperformed their passive counterparts, especially over longer time horizons.

 The investment strategy as stated in the fund's prospectus is as follows:

The investment seeks long-term growth of capital.  The fund is an actively managed ETF that invests primarily in equity securities of domestic and foreign companies that primarily own or operate assets used in the development, generation, production, transmission, storage and sale of alternative and renewable energy such as solar power, wind power, biofuels, hydropower, and nuclear or geothermal power. The fund also may invest in American Depository Receipts (“ADRs”) and Global Depository Receipts (“GDRs”) of Renewable Energy Infrastructure Companies. It is non-diversified. 

 In terms of portfolio turnover, on a year-over-year basis, 52% of the fund's holdings have changed, whether through increasing, decreasing, or changing a position.

Below Average

Process

TrueShares Eagle Glbl Rnwbls Engy IncETF earns an Above Average People Pillar rating. The main contributor to the rating is the portfolio managers' outperformance of peers at the funds they run, as measured by their combined three-year manager excess returns. The rating is limited by the number of months that the management team has been running this vehicle together. Since this is a newly incepted product, more time is needed to monitor the team's capability at executing the strategy.


Steven S. Russo’s veteran status, with over 25 years of listed portfolio management experience, brings a wealth of experience to the table. The average Morningstar Rating of the strategies they currently manage is 3.1 stars, indicating that their risk-adjusted returns have been in line with the category average. Steven S. Russo has an experienced backdrop of support. The three listed managers boast 14 years of average listed portfolio management experience.

Above Average

People

TrueMark is an industry-standard asset manager, resulting in an Average Parent Pillar rating. Even so, it's encouraging that the firm showcases strong risk-adjusted performance across its open-end and exchange-traded fund lineup, with an average overall Morningstar Rating of 4.0 stars. The TrueMark portfolio management team has lacked continuity since the firm's inception, denoted by elevated levels of turnover, which bears watching. TrueMark's longest-tenured managers do not possess comparable experience as teams at other firms, a cause for concern. Specifically, average tenure within the firm is three years. As such, there is less confidence in the group's ability to manage capital through a full market cycle effectively.

Average

Parent

Trueshares Eagle Global Renewable Energy Income ETF

RNWZ seeks long-term capital growth by actively managing a portfolio of renewable energy infrastructure companies from across the globe.

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Investors who piled into clean energy themes the last few years are experiencing some performance pain this year, as we appear to be experiencing a detour on the road to the clean energy transition. Related themes have been hard hit this year due to a confluence of events.

A Detour on the Road to the Clean Energy Transition

TrueMark Investments and Eagle Global Advisors have announced the launch of the TrueShares Eagle Global Renewable Energy Income ETF (NYSE Arca: RNWZ), which began trading on the New York Stock Exchange today.

TrueMark and Eagle Global Target Renewable Energy With RNWZ

News for Trueshares Eagle Global Renewable Energy Income ETF ETF (RNWZ)