ETF Evaluator:
GMO Power Infrastructure ETF ()
Follow This ETF
(as of Nov 13)
Best Performing in Infrastructure Over the Last Year
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ETF Details
GMO Power Infrastructure ETF Overview
GMO Power Infrastructure ETF (KWH) is an actively managed Sector Equity Infrastructure exchange-traded fund (ETF). GMO launched the ETF in 2026.
The investment seeks total return.
GMO seeks to achieve the fund’s investment objective by investing the fund’s assets primarily in equities of companies operating in power infrastructure-related industries. Given global population growth, accelerating electrification, rising wealth in emerging markets, reindustrialization of developed economies and the increasing energy infrastructure requirements from datacenters partly due to the emergence of artificial intelligence (“AI”), GMO believes that companies economically tied to power infrastructure will benefit from the increasing demand for electricity, energy and related infrastructure. It is non-diversified.
About GMO Power Infrastructure ETF (KWH)
There are 2 members of the management team with an average tenure of 0.30 years: Thomas Hancock (2026) and Lucas White (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
GMO Power Infrastructure ETF has 85 securities in its portfolio. The top 10 holdings constitute 30.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
GMO Power Infrastructure ETF is part of the Equity global asset class and is within the Sector Equity ETF group. GMO Power Infrastructure ETF has 48.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 51.3% There is 48.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). GMO Power Infrastructure ETF has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $53 million in total assets, which is below the $1 billion average for the Infrastructure category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
KWH Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The GMO Power Infrastructure ETF expense ratio is above average compared to funds in the Infrastructure category. GMO Power Infrastructure ETF has an expense ratio of 0.60%, which is 5% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. GMO Power Infrastructure ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 42% for the Infrastructure category.
Recently, in the month of October 2026, GMO Power Infrastructure ETF returned -1.3%, which earned it a grade of F, as the Infrastructure category had an average return of 3.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
GMO Power Infrastructure ETF has a trailing yield of 0.00%, which is below the 2.22% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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KWH Trailing NAV Total Returns Data as of 10/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| KWH Return (NAV) | -1.3% | -5.9% | na | na | na | na |
| KWH Return (Price) | -1.3% | -6.0% | na | na | na | na |
| NAV +/- Price Return | 0.071% | 0.164% | na | na | na | na |
| Infrastructure Avg | 3.3% | -2.8% | 9.0% | 17.1% | 8.7% | 9.2% |
| KWH Grade (NAV) | F | F | na | na | na | na |
| +/- Category (NAV) | -4.5% | -3.1% | na | na | na | na |
| KWH Tax-Cost Ratio | na | na | na | na | na | na |
KWH Annual NAV Total ReturnsData as of 10/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| KWH Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| KWH Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Infrastructure Avg | 9.8% | 21.8% | 7.2% | 11.3% | -4.1% | 20.7% | 6.3% | 27.8% | -11.8% | 18.0% | 14.9% |
| KWH Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 54 Mil |
| Share Class Assets: | $ 54 Mil |
| Turnover: | na |
| Expense Ratio: | 0.60% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.3 years | |||
| Average Tenure: 0.3 years | |||
| Managers (Year): Hancock Thomas (2026), White Lucas (2026) | |||
Portfolio Composition (as of 9/30/26)
| # of Holdings: | 85 |
| % in Top 10 Holdings: | 30.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 48.1% |
Portfolio Allocation |
|
| Domestic Stock: | 51.3% |
| Foreign Stock: | 48.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.6% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | GMO |
| Phone Number: | 844-761-1102 |
| Website: | |
| Inception Date: | July 14, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.60% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.57% |
