At a glance
RNWZ charges 0.75% a year, above the 0.28% average of the 6 funds most like it (the most expensive of 7). It has $2.2M in assets, the 7th largest of that group; it paid 1.87% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +29.3% with distributions reinvested (S&P 500: +11.5%), the best of those 7 funds; over three years it returned +10.7% a year. Its ten largest positions make up 59.3% of the fund, out of 23 in all.
The short version
TrueShares Eagle Global Renewable Energy Income ETF (RNWZ) is an actively managed fund of global utilities and power companies that own wind, solar, hydro and other renewable assets. As of March 31, 2025, it held 23 stocks, led by Germany's RWE at 12.3%, with about $2.2 million in net assets. It costs 0.75% a year, against a 0.28% average for similar funds, and despite its name, its stated goal is long-term growth, not income.
Price history
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RNWZ +29.3% over the year to Jul 20, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| RNWZ price data to Jul 20, 2026 | +13.6% | +29.3% | +10.7% | — | — | +9.3% |
- Over the year to Jul 20, 2026, RNWZ returned +29.3%, 1st of 7 among similar funds.
- Its worst full calendar year was 2024 (-7.3%); its best was 2025 (+36.4%).
- The deepest fall in its price history was 24.9% (Jan 17, 2023 to Oct 4, 2023), recovered by Sep 5, 2024.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +13.6% |
| 2025 | +36.4% |
| 2024 | -7.3% |
| 2023 | -3.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.2900 | |
| 2025 | $0.6000 | +20.0% |
| 2024 | $0.5000 | -43.8% |
| 2023 | $0.8900 |
What's inside
As of Mar 31, 2025, the fund held 23 securities; the ten largest made up 59.28% of assets.
| Holding | Weight | |
|---|---|---|
| RWE AG | 12.30% | |
| Sse PLC | 7.76% | |
| American Electric Power Co, Inc. | 6.20% | |
| PG&E Corporation | 6.15% | |
| EDP SA | 5.49% | |
| NextEra Energy Inc | 4.64% | |
| Enel S.p.A. | 4.28% | |
| Meridian Energy Ltd. | 4.24% | |
| Acciona SA | 4.11% | |
| Endesa SA - Empresa Nacional Electricidad | 4.10% | |
| Verbund AG | 3.92% | |
| Northland Power Inc. | 3.89% | |
| Clearway Energy Inc | 3.77% | |
| Iberdrola, S.A. | 3.77% | |
| Duke Energy Corp | 3.55% |
By country
United States 38.1%Germany 12.3%Spain 11.98%United Kingdom 7.76%New Zealand 6.21%By asset type
Stocks 99.68%What changed recently
- Over the three months to Mar 31, 2025, investors withdrew a net $266K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.90%, +2.75%, +4.85%.
How it works
RNWZ does not track an index. Eagle Global Advisors, LLC, the sub-adviser hired to run the portfolio, picks stocks for this TrueShares fund from Truemark Group. At least 80% of net assets must go to what the prospectus calls Renewable Energy Infrastructure Companies: firms of any size, in the US or abroad, that own or operate assets used to generate, transmit, store and deliver solar, wind, hydropower, biofuel, nuclear or geothermal power.
The managers use fundamental research: they weigh global economic and political conditions, study each company, apply their own valuation methods and estimate the return a stock may deliver for its risk. Position sizes are their call, not an index's. They may drop a stock that no longer qualifies, falls short of its projected return or is outshone by a more attractive option. Turnover, roughly the share of holdings replaced in a year, was 43% in the April 2025 prospectus.
The fund is non-diversified, so it can hold bigger stakes in fewer companies: as of March 31, 2025, RWE was 12.3% and the top 10 were 59%. It must keep more than 25% in utilities and expects at least 40% in companies tied economically to a number of countries. It held no derivatives on that date, so payouts come from its stocks' dividends.
What it really costs
- RNWZ charges 0.75% a year, versus an average of 0.28% for the similar funds below (7th of 7, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $77 in the first year and $930 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| RNWZ | $77 | $240 | $417 | $930 |
In a retirement portfolio
A small, non-diversified fund focused on one slice of the utilities sector, with a short and uneven record, works as a modest add-on rather than a foundation.
RNWZ could add exposure to global renewable power companies, such as Germany's RWE and the UK's SSE, that a US-focused portfolio may lack. It launched in December 2022, so it has no record through the 2008, 2020 or 2022 downturns. Its deepest drop, 24.9% from January to October 2023, took about 11 months from the low to recover, by September 2024. Its worst calendar year was 2024, down 7.3%. Cashing out shares for income during such a slump would lock in losses.
The trailing yield was 1.87% as of July 20, 2026, paid quarterly. Its 0.75% expense ratio is well above the 0.28% average of similar funds. With about $2.2 million in net assets as of March 31, 2025, the fund is tiny, and tiny funds are more likely to close. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting an actively picked basket of renewable-focused utilities with large European stakes, including RWE, SSE and EDP as of March 31, 2025.
- Investors comfortable with concentration and big swings: 23 stocks as of March 31, 2025, and a 24.9% peak-to-low drop in 2023.
- Investors who prefer a manager's judgment over an index, with Eagle Global Advisors choosing stocks on valuation and expected return versus risk.
Look elsewhere if
- Cost-conscious investors: its 0.75% expense ratio is the highest of seven funds compared, while broad utility funds such as XLU charge 0.08%.
- Income seekers: despite its name, the fund's stated goal is long-term growth, and the trailing yield was 1.87% as of July 20, 2026.
- Those wary of tiny funds: net assets were about $2.2 million as of March 31, 2025, which can mean higher trading costs and closure risk.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| RNWZ this fund | — | 0.75% | $2.2M | +29.3% | +10.7% |
| JXI iShares Global Utilities ETF · different strategy | 29% | 0.41% | $322.8M | +3.4% | +18.7% |
| FUTY Fidelity MSCI Utilities Index ETF · different strategy | 19% | 0.084% | $2.32B | -4.0% | +17.0% |
| XLU Utilities Select Sector SPDR Fund · different strategy | 19% | 0.08% | $23.11B | -0.4% | -7.8% |
| VPU Vanguard Utilities ETF · different strategy | 19% | 0.09% | $10.08B | -4.1% | +17.0% |
| IDU iShares U.S. Utilities ETF · different strategy | 19% | 0.39% | $1.46B | -2.5% | +17.2% |
| SMOG VanEck Low Carbon Energy ETF · different strategy | 17% | 0.61% | $143.7M | -1.1% | +13.4% |
Questions investors ask
Is RNWZ good for retirement income?
It offers some income, but income isn't its main aim. Despite its name, RNWZ's stated objective is long-term growth of capital. Its trailing 12-month yield, the dividends paid over the past year divided by the share price, was 1.87% as of July 20, 2026, paid quarterly. The fund is also non-diversified, concentrated in utilities, charges 0.75% a year and had only about $2.2 million in net assets as of March 31, 2025. It may suit a small side role next to broader holdings.
Does RNWZ pay monthly dividends?
No. RNWZ pays dividends quarterly. Over the 12 months to July 20, 2026, it paid $0.58 per share, a trailing yield of 1.87%. The money comes from dividends on the utility and power stocks it owns. Unlike some ETFs with "income" in their names, it held no options or other derivatives as of March 31, 2025, so it was not using options to raise its payouts.
What is RNWZ's expense ratio?
RNWZ's expense ratio is 0.75% a year, all of it management fee, according to its prospectus filed April 30, 2025. Under the SEC's standard example ($10,000 invested, a 5% yearly return, and shares redeemed at the end of each period), costs total about $77 after one year, $417 after five and $930 after ten. The six similar funds compared average 0.28%, and broad utilities funds such as VPU and XLU charge 0.09% and 0.08%, though they follow different strategies.
What's the difference between RNWZ and JXI?
JXI, the iShares Global Utilities ETF, is broader, much larger and cheaper. It is a general global utilities fund, while RNWZ's managers hand-pick companies that own renewable energy assets. The two follow different strategies, even though JXI shares more holdings with RNWZ than any other similar fund. JXI charges 0.41% a year against RNWZ's 0.75%. JXI had about $322.8 million in net assets as of June 30, 2026, versus about $2.2 million for RNWZ as of March 31, 2025.
How has RNWZ performed?
RNWZ has a short, uneven record. Measured by market price as of July 20, 2026, it returned 29.3% over one year and 10.7% a year over three years. By calendar year, it lost 3.85% in 2023 and 7.32% in 2024, gained 36.41% in 2025, and was up 13.59% for 2026 year to date through July 20. In its prospectus, its strongest quarter was a 14.49% gain (ended September 30, 2024) and its weakest a 16.66% loss (ended December 31, 2024).