Listed Funds Trust - TrueShares Eagle Global Renewable Energy Income ETF (RNWZ)

ETF Listed Funds Trust - TrueShares Eagle Global Renewable Energy Income ETF (NYSE: TPWR)

Profile:

TPWR is an actively managed ETF that invests in global renewable energy companies, primarily focusing on generating current income. It seeks to achieve its goals by investing in a diversified portfolio of companies in various segments of the renewable energy sector.

Objective:

• To provide attractive current income and total returns through investments in global renewable energy companies.
• To offer exposure to a globally diversified portfolio of renewable energy businesses, including wind, solar, geothermal, biomass and energy efficiency.

Issuer:

• Issuer: ETF Listed Funds Trust
• Reputation and Reliability: TrueShares is a relatively young ETF issuer, established in 2019. However, it is part of the larger ETF Managers Group (EMG), which has been managing exchange-traded products since 2008, with currently over $50 billion in AUM.
• Management: The ETF is actively managed by the TrueShares ETF Management Team, led by CEO Dan Greblunas, who has extensive experience in the financial industry and ETF management.

Market Share:

• TPWR is a smaller player in the renewable energy ETF space, holding around 0.04% of the market share as of December 2022.

Total Net Assets:

• As of December 2022, TPWR had approximately $23 million in total net assets.

Moat:

• Global Diversification: The ETF offers investors exposure to a broad range of geographically diversified renewable energy companies. This diversification reduces concentration risk and provides broader exposure to market opportunities.
• Focus on income: TPWR prioritizes income generation, making it attractive for investors seeking current returns alongside capital growth.

Financial Performance:

• Since Inception (as of November 2023):

  • The ETF has delivered a total return of approximately -11.2%

• Benchmark Comparison:

  • The ETF has underperformed its benchmark index, the Solactive Global Renewable Energy Infrastructure & Technology Index NR USD, which returned approximately -5.2% in the same timeframe.

Growth Trajectory:

• The long-term outlook for renewable energy remains strong, driven by global efforts to combat climate change and reduce dependence on fossil fuels. This suggests potential growth opportunities for the ETF.

Liquidity:

• Average Daily Volume: As of November 2023, the average daily volume for TPWR is approximately 2,300 shares.
• Bid-Ask Spread: The ETF's bid-ask spread is typically around 0.1%.

Market Dynamics:

• Factors affecting TPWR:
  • Global economic conditions
  • Government policies supporting renewable energy
  • Technological advancements in the renewable energy sector
  • Competitive landscape within the renewable energy industry
  • Interest rate fluctuations

Competitors:

• Key competitors in the Global Renewable Energy ETF space include:
  • iShares Global Clean Energy ETF (ICLN): Market share of approximately 23.4%.
  • Invesco Global Clean Energy ETF (PBD): Market share of approximately 7.5%.
  • First Trust Global Wind Energy ETF (FAN): Market share of approximately 2.2%.

Expense Ratio:

• The ETF's expense ratio is 0.80%.

Investment Approach & Strategy:

• Strategy: The ETF actively manages its portfolio, seeking to identify undervalued and high-growth potential companies within the global renewable energy sector.
• Composition: The ETF invests primarily in equity securities of publicly traded companies engaged in the renewable energy industry, including developers, manufacturers, distributors, and installers of renewable energy technologies.

Key Points:

• Globally diversified portfolio
• Income-focused investment approach
• Actively managed portfolio
• Low expense ratio

Risks:

• Market volatility: The renewable energy sector can experience significant price fluctuations due to factors such as economic conditions and government regulations.
• Concentration risk: Although globally diversified, the ETF's focus on a specific sector can make it more vulnerable to fluctuations within the renewable energy industry.
• Currency risk: The ETF invests in companies located around the world, exposing investors to potential currency fluctuations.

Who should consider investing?

• Investors with a long-term investment horizon who believe in the growth prospects of the renewable energy industry.
• Investors seeking current income alongside capital appreciation.
• Investors with a moderate risk tolerance who can withstand potential market volatility.

Fundamental Rating Based on AI:

• Based on an analysis of various financial metrics, market data, and future growth projections, the current AI-based fundamental rating for TPWR is 4. This score reflects the ETF's strong potential in terms of its income-generating capacity, global diversification, and exposure to the growing renewable energy market. However, its young track record, relatively small market share, and underperformance compared to its benchmark, limit the current score to a moderate level.

Resources & Disclaimers:

• Disclaimer: This summary is intended for informational purposes only and does not constitute financial advice. Please conduct your own due diligence and consider consulting a qualified investment professional before making any investment decisions.
• Sources: ETF.com, TrueShares ETF Website, Bloomberg, Morningstar.

This information was gathered using publicly available data as of November 2023. Please be aware that the information and ratings may differ at the time you access it.