GWX(GWX)
AI Look-Through Summary
AI GeneratedThe GWX ETF presents a highly fragmented investment profile characterized by an extremely low concentration of top holdings, with the largest positions representing merely 0.4% to 0.3% of the portfolio each. This structure suggests that no single issuer or security exerts significant influence on the fund's overall performance, resulting in a broadly diversified exposure across numerous small-cap entities rather than focused bets on market leaders. With an assets under management figure of $800 million, this scale supports the maintenance of such granular diversification while allowing for liquidity sufficient to manage these minor positions without excessive transaction friction.
Sector allocation reveals a distinct tilt away from traditional growth or technology drivers toward cyclical and value-oriented industries. Financial Services dominates with 1.3% weightage, followed closely by Industrials and Healthcare at 1.0%, indicating that the fund's economic sensitivity is primarily tied to banking stability, manufacturing output, and pharmaceutical demand rather than consumer discretionary spending or software innovation. Basic Materials and Energy round out the mix at lower percentages of 0.7% and 0.6%, respectively, further reinforcing a composition heavily weighted toward established industrial sectors. This distribution implies that the fund's returns will likely correlate strongly with macroeconomic cycles affecting production and lending rather than rapid technological disruption or consumer sentiment shifts.
Geographic exposure cannot be explicitly detailed from the provided data points alone due to the absence of country-level breakdowns, though the ticker symbols suggest a potential focus on specific regional markets given the mix of alphanumeric identifiers alongside standard three-letter codes. The quantitative metrics highlight an instrument designed for broad market participation within niche industrial segments rather than capturing large-cap momentum or defensive utilities. Investors examining this vehicle should consider whether such diffuse sector weights and minimal holding concentrations align with their desire for uncorrelated returns in value-heavy industries versus the need for concentrated exposure to dominant industry players.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-19 00:08:55.886867+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 15/100The investment theme implied by the ticker GWX suggests a specific growth-oriented strategy, yet the provided data reveals a portfolio constructed almost entirely of micro-cap and nano-cap positions with negligible individual weightings. The top holdings collectively account for only 3.3% of assets under management, indicating an extremely fragmented exposure where no single security drives performance or theme alignment. Furthermore, several listed entities lack identifiable sector classifications in the provided dataset, making it impossible to verify if they adhere to any coherent growth narrative. This structural dispersion suggests the fund may be utilizing a broad sampling of small issuers rather than curating a focused set of companies that strictly embody the intended thematic criteria.
Sector weights further underscore a distinct lack of differentiation from a general market index, particularly given their minimal scale relative to total assets. Financial services and industrials dominate with 1.3% and 1.0% respectively, while technology contributes merely 0.4%, which is disproportionately low for an entity named GWX typically associated with innovation or growth sectors. The presence of inflation-protected bonds and commodities-focused holdings introduces asset classes that are often orthogonal to pure equity growth themes, diluting the portfolio's purity. With sector allocations spread so thinly across twelve categories and no significant concentration in any single area, the fund appears more aligned with a passive small-cap index than an active thematic strategy. The data indicates high idiosyncratic risk due to minute position sizes rather than strategic divergence from broad benchmarks.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-20 07:44:45.348041+00
🏢 Sector Analysis
AI GeneratedThe sector allocation profile of GWX presents a distinct anomaly when compared to traditional equity or bond exchange-traded funds, as the vast majority of its assets are distributed across sectors representing less than 2% each. With Financial Services at 1.3%, Industrials and Healthcare both sitting at 1.1%, and Technology comprising only 0.4%, the fund lacks exposure to any single industry group that could drive significant directional movement based on macroeconomic trends specific to those areas. This extreme fragmentation across eleven different sectors suggests an investment thesis centered not on capturing sector-specific growth or defensive rotations, but rather on accessing a highly diversified set of underlying assets where individual company performance is likely driven by idiosyncratic factors rather than broad industry tailwinds.
The concentration risk profile further reinforces this observation, with the top ten holdings collectively accounting for merely 3.0% of the total portfolio. Such low concentration indicates that the fund's primary objective may be capital preservation through extreme diversification or potentially serving as a vehicle to hold specific niche instruments rather than established large-cap equities. The presence of Inflation-Protected Bond and Commodities Focused allocations, albeit minimal at 0.1% each, alongside utility and consumer defensive exposures, hints at an attempt to incorporate various asset classes within a single structure, although the weighting suggests these are not primary drivers of return generation.
Factor tilts inferred from this data point toward a strategy that minimizes exposure to large-cap value or growth premiums typically associated with concentrated sector bets. Instead, the portfolio appears engineered to reduce idiosyncratic risk by spreading capital so thinly across holdings like MGOR and AIXA that no single security can materially impact overall performance. While this approach theoretically mitigates volatility stemming from any one economic cycle affecting a specific industry, it also implies limited potential for outsized gains during periods where certain sectors outperform significantly. The structure prioritizes breadth over depth, resulting in a portfolio where factor exposure is likely muted and heavily dependent on the aggregate behavior of small, disparate components rather than dominant market leaders.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-24 13:29:45.526837+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share GWX's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 54% of GWX's weight flows through these larger ETFs
41% of GWX's portfolio by weight is also held by SPDW, which commands 44× more assets under management. When SPDW receives inflows, it mechanically buys these shared stocks — dragging GWX's NAV along regardless of any thematic or sector catalyst. Combined, the top 2 overlapping ETFs control exposure to 54% ofGWX's weight.
Overlap computed from constituent-level holdings data across 2 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Replaces $249/yr MorningstarPeer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 4% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Based on 5% of fund weight with Piotroski data.
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation. Data that Vanguard and BlackRock don't surface.
Earnings vs. Price Decomposition
ProprietaryGWX is up 32.3% over the last 12 months. The underlying weighted earnings growth of its constituents is +29.6%. The remaining +2.6% of performance is driven by multiple expansion (P/E inflation) — prices rose faster than earnings grew.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 4% of fund weight with earnings data. Not investment advice.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | 6787 | MEIKO ELECTRONICS CO LTD | 0.36% | — | — |
| 2 | AIXA | AIXTRON SE | 0.34% | — | — |
| 3 | MGOR | MEGA OR HOLDINGS LTD | 0.33% | — | — |
| 4 | A000990 | DB HITEK CO LTD | 0.30% | — | — |
| 5 | TVE | TAMARACK VALLEY ENERGY LTD | 0.30% | — | — |
| 6 | A353200 | DAEDUCK ELECTRONICS CO LTD | 0.28% | — | — |
| 7 | 3110 | NITTO BOSEKI CO LTD | 0.27% | — | — |
| 8 | A036930 | JUSUNG ENGINEERING CO LTD | 0.27% | — | — |
| 9 | KIT | KITRON ASA | 0.26% | — | — |
| 10 | 8020 | KANEMATSU CORP | 0.26% | — | — |
| 11 | SOI | S.O.I.T.E.C. | 0.25% | — | — |
| 12 | 6890 | FERROTEC CORP | 0.24% | — | — |
| 13 | HEIJM | KONINKLIJKE HEIJMANS NV CVA | 0.24% | — | — |
| 14 | 7762 | CITIZEN WATCH CO LTD | 0.24% | — | — |
| 15 | CG | CENTERRA GOLD INC Financial Services | 0.23% | 21.3x | 1/9 |
Historical Holdings Snapshots
Browse how GWX’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
15 holdings · 4.2% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 6787 | 0.36% | 12,967 | — |
| 2 | AIXA | 0.34% | 50,495 | — |
| 3 | MGOR | 0.33% | 13,836 | — |
| 4 | A000990 | 0.30% | 22,520 | — |
| 5 | TVE | 0.30% | 283,742 | — |
| 6 | A353200 | 0.28% | 26,083 | — |
| 7 | 3110 | 0.27% | 17,430 | — |
| 8 | A036930 | 0.27% | 19,462 | — |
| 9 | KIT | 0.26% | 204,609 | — |
| 10 | 8020 | 0.26% | 168,470 | — |
| 11 | SOI | 0.25% | 11,457 | — |
| 12 | 6890 | 0.24% | 39,978 | — |
| 13 | HEIJM | 0.24% | 20,161 | — |
| 14 | 7762 | 0.24% | 162,500 | — |
| 15 | CG | 0.23% | 123,495 | — |
2026-05-23
15 holdings · 4.2% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 6787 | 0.36% | 12,967 | — |
| 2 | AIXA | 0.34% | 50,495 | — |
| 3 | MGOR | 0.33% | 13,836 | — |
| 4 | A000990 | 0.30% | 22,520 | — |
| 5 | TVE | 0.30% | 283,742 | — |
| 6 | A353200 | 0.28% | 26,083 | — |
| 7 | 3110 | 0.27% | 17,430 | — |
| 8 | A036930 | 0.27% | 19,462 | — |
| 9 | KIT | 0.26% | 204,609 | — |
| 10 | 8020 | 0.26% | 168,470 | — |
| 11 | SOI | 0.25% | 11,457 | — |
| 12 | 6890 | 0.24% | 39,978 | — |
| 13 | HEIJM | 0.24% | 20,161 | — |
| 14 | 7762 | 0.24% | 162,500 | — |
| 15 | CG | 0.23% | 123,495 | — |
2026-05-22
15 holdings · 4.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | AIXA | 0.35% | 50,495 | — |
| 2 | MGOR | 0.34% | 13,836 | — |
| 3 | 6787 | 0.33% | 12,967 | — |
| 4 | TVE | 0.30% | 283,742 | — |
| 5 | A000990 | 0.27% | 22,520 | — |
| 6 | KIT | 0.27% | 204,609 | — |
| 7 | 3110 | 0.26% | 17,430 | — |
| 8 | 8020 | 0.26% | 168,470 | — |
| 9 | A036930 | 0.26% | 19,462 | — |
| 10 | A353200 | 0.26% | 26,083 | — |
| 11 | 7762 | 0.25% | 162,500 | — |
| 12 | 6890 | 0.25% | 39,978 | — |
| 13 | SOI | 0.24% | 11,457 | — |
| 14 | CG | 0.23% | 123,495 | — |
| 15 | HEIJM | 0.23% | 20,161 | — |
2026-05-21
15 holdings · 4.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 6787 | 0.34% | 12,967 | — |
| 2 | AIXA | 0.33% | 50,495 | — |
| 3 | MGOR | 0.32% | 13,836 | — |
| 4 | TVE | 0.31% | 283,742 | — |
| 5 | 8020 | 0.27% | 168,470 | — |
| 6 | 3110 | 0.27% | 17,430 | — |
| 7 | A000990 | 0.27% | 22,520 | — |
| 8 | A353200 | 0.26% | 26,083 | — |
| 9 | 7762 | 0.26% | 162,500 | — |
| 10 | KIT | 0.26% | 204,609 | — |
| 11 | A036930 | 0.26% | 19,462 | — |
| 12 | 6890 | 0.24% | 39,978 | — |
| 13 | CG | 0.23% | 123,495 | — |
| 14 | HEIJM | 0.22% | 20,161 | — |
| 15 | 6508 | 0.22% | 30,049 | — |
2026-05-20
15 holdings · 4.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 6787 | 0.46% | 16,567 | — |
| 2 | A000990 | 0.39% | 30,211 | — |
| 3 | A353200 | 0.36% | 34,356 | — |
| 4 | MGOR | 0.33% | 13,836 | — |
| 5 | AIXA | 0.33% | 50,495 | — |
| 6 | TVE | 0.31% | 283,742 | — |
| 7 | A178320 | 0.30% | 55,572 | — |
| 8 | 3110 | 0.28% | 17,430 | — |
| 9 | 8020 | 0.27% | 168,470 | — |
| 10 | A036930 | 0.26% | 19,462 | — |
| 11 | KIT | 0.26% | 204,609 | — |
| 12 | 6890 | 0.26% | 39,978 | — |
| 13 | 7762 | 0.26% | 162,500 | — |
| 14 | CG | 0.24% | 123,495 | — |
| 15 | 6508 | 0.23% | 30,049 | — |
2026-05-19
15 holdings · 4.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 6787 | 0.42% | 16,567 | — |
| 2 | A000990 | 0.37% | 30,211 | — |
| 3 | A353200 | 0.35% | 34,356 | — |
| 4 | AIXA | 0.34% | 50,495 | — |
| 5 | MGOR | 0.33% | 13,836 | — |
| 6 | TVE | 0.31% | 283,742 | — |
| 7 | 3110 | 0.29% | 17,430 | — |
| 8 | A178320 | 0.28% | 55,572 | — |
| 9 | 8020 | 0.27% | 168,470 | — |
| 10 | KIT | 0.27% | 204,609 | — |
| 11 | 6890 | 0.27% | 39,978 | — |
| 12 | 7762 | 0.26% | 162,500 | — |
| 13 | CG | 0.23% | 123,495 | — |
| 14 | 6508 | 0.23% | 30,049 | — |
| 15 | 6407 | 0.23% | 48,259 | — |
Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Price Chart with Moving Averages
What Drove GWX Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedThe current price of GWX at $45.87 sits within a context where Short-Term Moving Average crossovers often serve as key reference points for institutional positioning, though specific crossover directions are not detailed in the provided snapshot. When larger market participants accumulate or distribute shares, they frequently utilize volume trends to mask their activity while establishing dominant price levels. In this scenario, if volume has been expanding alongside upward price momentum near $45.87, it could suggest that institutions are actively building positions rather than merely reacting to retail sentiment. Conversely, a divergence where price rises on diminishing volume might indicate that institutional buying interest is waning or that the current level represents a zone of potential distribution. Price action relative to these moving averages often reveals whether large players view $45.87 as support or resistance. If the stock maintains strength above its Short-Term Moving Average while the Long-Term average remains below, it may signal a bullish bias among sophisticated traders who are comfortable holding through short-term volatility. However, without explicit confirmation of volume surges coinciding with breakouts, one cannot definitively conclude that institutions are driving the current move. The absence of specific crossover data limits the ability to determine if larger entities have recently flipped from net sellers to net buyers or vice versa based solely on this price point. Ultimately, the technical setup at $45.87 reflects a dynamic equilibrium where institutional behavior is inferred through the interplay of price and volume rather than direct observation
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How GWX’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-02.
SecuritiesDB is for informational purposes only. Not investment advice.