At a glance
WCEO charges 0.85% a year. It has $10.0M in assets; it paid 0.54% of its price in distributions over the past 12 months, annual. Over the past year it returned +17.9% with distributions reinvested (S&P 500: +11.5%); over three years it returned +19.6% a year. Its ten largest positions make up 13.5% of the fund, out of 161 in all.
The short version
Hypatia Women CEO ETF (WCEO) is an actively managed fund holding U.S. stocks of companies led by female chief executives, drawn mainly from its sponsor's Hypatia Women CEO Index. That index copies the S&P SmallCap 600's industry mix and weights stocks equally within each industry, giving a wide spread of holdings. The main drawbacks are a 0.85% annual fee and a tiny asset base of about $10 million as of July 31, 2026.
Price history
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WCEO +17.9% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| WCEO official prospectus, to Dec 31, 2024 | — | +8.54% | — | — | — | +9.89% |
| S&P Small Cap 600 Index (Reflects no deduction for fees, expenses, or taxes) index, same period | — | +8.70% | — | — | — | +11.05% |
| FT Wilshire Small Cap Total Return Index (Reflects no deduction for fees, expenses, or taxes) index, same period | — | +14.12% | — | — | — | +15.72% |
| Russell 1000 Equal Weight Index (Reflects no deduction for fees, expenses, or taxes) index, same period | — | +11.53% | — | — | — | +10.66% |
| WCEO price data to Oct 27, 2026 | +17.6% | +17.9% | +19.6% | — | — | +12.3% |
- Over the year to Oct 27, 2026, WCEO returned +17.9%.
- Its worst full calendar year was 2024 (+8.3%); its best was 2025 (+9.8%).
- The deepest fall in its price history was 25.9% (Dec 2, 2024 to Apr 8, 2025), recovered by Sep 11, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +17.6% | — |
| 2025 | +9.8% | — |
| 2024 | +8.3% | +8.54% |
| 2023 | +11.3% | — |
| 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 |
|---|---|---|
| 2025 | $0.2100 | -22.2% |
| 2024 | $0.2700 | +3.8% |
| 2023 | $0.2600 |
What's inside
As of Jul 31, 2026, the fund held 161 securities; the ten largest made up 13.52% of assets.
| Holding | Weight | |
|---|---|---|
| INTERNATIONAL SEAWAYS INC | 1.57% | |
| MARATHON PETROLEUM CORP | 1.55% | |
| KINDER MORGAN INC | 1.48% | |
| SOLARIS ENERGY INFRASTRUCTURE INC | 1.44% | |
| ALBERTSONS COMPANIES INC | 1.42% | |
| TOOTSIE ROLL INDUSTRIES INC | 1.41% | |
| CLOROX COMPANY | 1.35% | |
| HUBSPOT INC | 1.12% | |
| WORKIVA INC | 1.10% | |
| ACCENTURE PLC | 1.09% | |
| LIFE360 INC | 1.07% | |
| CDW CORP | 1.07% | |
| CLEAR SECURE INC | 1.02% | |
| NEXTNAV INC | 1.02% | |
| LINCOLN NATIONAL CORP | 1.02% |
By country
United States 94.56%Ireland 2.14%Marshall Islands 1.57%Singapore 0.93%Bermuda 0.7%By asset type
Stocks 100.4%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $738K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.91%, +4.24%, +0.13%.
How it works
WCEO is actively managed, so its adviser, not an index, makes the final calls. It invests at least 80% of net assets in stocks of U.S. companies with a female chief executive, and up to 20% of total assets in companies with a female chair. The adviser believes women who reach the top job despite documented barriers must be exceptional leaders, so their companies can beat the market.
Its starting point is the Hypatia Women CEO Index, which the adviser's parent, Hypatia Capital Group, owns and designs; a unit of S&P Dow Jones Indices calculates it. The index draws from U.S. stocks and REITs (real estate investment trusts) worth at least $500 million with a female CEO. It sets industry weights to match the S&P SmallCap 600, splits each industry's share equally among its stocks and rebalances industries monthly. As of November 1, 2025, it had 155 stocks valued from about $468 million to $410 billion.
The fund mostly owns index stocks, but the adviser chooses and weights holdings with its own method, so returns can differ from the index's. Yearly turnover was 91%, a high trading rate that can add costs beyond the fee. The fund may also lend securities for extra income. As of July 31, 2026, it held 161 stocks, led by International Seaways at 1.6%.
What it really costs
- WCEO charges 0.85% a year.
- Using the prospectus's standard example, $10,000 invested would cost about $87 in the first year and $1,049 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| WCEO | $87 | $271 | $471 | $1,049 |
In a retirement portfolio
It is a narrow, theme-based stock fund with a 0.85% fee, a history dating only to January 2023 and about $10 million in assets, so it fits a small slice rather than the core.
WCEO could add exposure to women-led U.S. companies with a small-cap-style industry mix, unlike size-weighted funds dominated by the biggest stocks. It launched in January 2023, so it has no record in the 2008, 2020 or 2022 downturns. Its deepest drop was 25.9%, from December 2, 2024, to April 8, 2025; it recovered about five months later, by September 11, 2025. Its worst full calendar year, 2024, was still a gain of 8.54%. Retirees drawing cash near that April low would have cashed in shares at depressed prices.
Income is minor: the yield over the prior 12 months was 0.54% as of October 27, 2026, paid once a year. The 0.85% fee costs $87 in year one and $1,049 over 10 years on $10,000, under the SEC's standard example. 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 who want stock exposure focused on U.S. companies led by women CEOs and accept that this filter can trail the broader market.
- Those seeking a widely spread portfolio: 161 stocks as of July 31, 2026, with no single holding above about 1.6%.
- Those wanting a small satellite slice with an industry mix modeled on the S&P SmallCap 600, through holdings like Kinder Morgan, Clorox and HubSpot.
Look elsewhere if
- Cost-conscious investors: the 0.85% fee adds up to $1,049 over 10 years on $10,000 in the SEC's standard example.
- Income seekers: the yield was 0.54% as of October 27, 2026, and distributions arrive only once a year.
- Anyone wary of a tiny, young fund: about $10 million in assets as of July 31, 2026, and no record before January 2023.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
What does the Hypatia Women CEO ETF invest in?
WCEO holds stocks of U.S. companies run by female chief executives. It is actively managed but draws mainly from the Hypatia Women CEO Index, built by its adviser's parent company. As of July 31, 2026, it held 161 stocks, led by International Seaways, Marathon Petroleum, Kinder Morgan, Solaris Energy Infrastructure and Albertsons, each about 1.4% to 1.6% of assets. The top 10 made up just 13.5%, reflecting an index that weights stocks equally within each industry.
What is WCEO's expense ratio?
WCEO's expense ratio, the yearly fee taken from fund assets, is 0.85%, per its prospectus filed November 26, 2025. In the SEC's standard example, which assumes $10,000 invested, a 5% yearly return and a full withdrawal at the end of each period, total costs come to $87 after one year, $471 after five years and $1,049 after 10 years. Yearly turnover of 91% can add trading costs that the expense ratio does not include.
Does WCEO pay dividends?
Yes, but only once a year, and the amount is small. Over the 12 months to October 27, 2026, WCEO paid about $0.21 per share, a yield of 0.54%. The fund's goal is capital appreciation, meaning growth in share price, not income. Retirees who need regular cash from their investments would have to get most of it from other holdings or from cashing in shares.
How has WCEO performed compared with the S&P 600?
It trailed that index through December 31, 2024, the latest period in its prospectus. WCEO returned 9.89% a year from its January 2023 launch, versus 11.05% for the S&P SmallCap 600 Index, whose industry weights its own index copies. In 2024 alone, the fund gained 8.54% against 8.70% for the index, which carries no fees. Based on market prices, WCEO returned 17.9% in the year to October 27, 2026.
Is WCEO good for retirement?
It may fit as a small satellite holding rather than a core one. WCEO is an all-stock fund, and it fell 25.9% from December 2, 2024, to April 8, 2025, recovering by September 11, 2025. Launched in January 2023, it has no record in the 2008, 2020 or 2022 downturns. It yielded 0.54% as of October 27, 2026, charges 0.85%, and held only about $10 million as of July 31, 2026. Very small ETFs can be shut down by their sponsors.