ETF Evaluator:
Running Oak Efficient Growth ETF ()
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(as of Aug 26)
Best Performing in Mid-Cap Blend Over the Last Year
| 58.8% | Castellan Targeted Equity ETF (CTEF) |
| 53.8% | Invesco S&P Spin-Off ETF (CSD) |
| 43.0% | Counterpoint Quantitative Equity ETF (CPAI) |
| 40.8% | Optimize Strategy Index ETF (OPTZ) |
| 37.3% | Tema U.S. Manufacturing & Reshoring ETF (WELD) |
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Risk
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ETF Details
Running Oak Efficient Growth ETF Overview
Running Oak Efficient Growth ETF (RUNN) is an actively managed U.S. Equity Mid-Cap Blend exchange-traded fund (ETF). Running Oak Capital LLC launched the ETF in 2023.
The investment seeks long-term growth of capital.
The fund is in an actively managed exchange-traded fund (“ETF”). Under normal circumstances, the fund seeks to achieve its investment objective by investing primarily in exchange-traded equity securities of large and mid-sized U.S. companies with market capitalizations of at least $5 billion. The fund is roughly equally-weighted with 50-75 stocks typically held in the portfolio. The fund may invest up to 20% of net assets in non-U.S. companies. The fund is non-diversified.
About Running Oak Efficient Growth ETF (RUNN)
There are 1 members of the management team with an average tenure of 3.15 years: Seth Cogswell (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and S&P 500 Equal Weighted TR USD index with a weighting of 100%. Running Oak Efficient Growth ETF has 58 securities in its portfolio. The top 10 holdings constitute 19.2% 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.
Running Oak Efficient Growth ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Running Oak Efficient Growth ETF has 5.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.3% There is 5.5% 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). Running Oak Efficient Growth ETF has 2.2% of the portfolio in cash.
Assets Under Management
The fund has $395 million in total assets, which is below the $4 billion average for the Mid-Cap Blend 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.
RUNN 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 Running Oak Efficient Growth ETF expense ratio is average compared to funds in the Mid-Cap Blend category. Running Oak Efficient Growth ETF has an expense ratio of 0.58%, which is 29% higher than its category average, making the fund expense ratio grade a D. 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. Running Oak Efficient Growth ETF has a portfolio turnover rate of 19%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 84% for the Mid-Cap Blend category.
Recently, in the month of July 2026, Running Oak Efficient Growth ETF returned 4.8%, which earned it a grade of A, as the Mid-Cap Blend category had an average return of -1.6%. 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.
Running Oak Efficient Growth ETF has a trailing yield of 0.54%, which is below the 0.85% 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.
Running Oak Efficient Growth ETF Grades
Year to date, the ETF has returned 1.8%, 12.2 percentage points worse than the category, which translates into a grade of F. The fund has returned 0.4% over the past year (grade of F) and 8.5% over the past three years (grade of F).
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RUNN Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| RUNN Return (NAV) | 4.8% | 2.3% | 0.4% | 8.5% | na | na |
| RUNN Return (Price) | 4.9% | 2.4% | 0.5% | 8.6% | na | na |
| NAV +/- Price Return | -0.064% | -0.111% | -0.111% | -0.031% | na | na |
| Mid-Cap Blend Avg | -1.6% | 4.4% | 20.8% | 14.8% | 8.8% | 11.6% |
| RUNN Grade (NAV) | A | F | F | F | na | na |
| +/- Category (NAV) | 6.4% | -2.1% | -20.4% | -6.3% | na | na |
| RUNN Tax-Cost Ratio | na | na | 0.2% | 0.2% | na | na |
RUNN Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RUNN Return (NAV) | 1.8% | 2.5% | 17.1% | na | na | na | na | na | na | na | na |
| RUNN Return (Price) | 1.9% | 2.3% | 17.2% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.060% | -0.069% | 0.002% | na | na | na | na | na | na | na | na |
| Mid-Cap Blend Avg | 14.0% | 10.6% | 16.1% | 16.9% | -14.4% | 23.3% | 15.6% | 27.4% | -9.1% | 19.1% | 14.8% |
| RUNN Grade (NAV) | F | F | B | na | na | na | na | na | na | na | na |
| +/- Category | -12.2% | -8.2% | 1.0% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.70 |
| R-Squared: | 54% |
| Standard Deviation: | 12.5% |
| Category Risk Index: | 0.80 |
| Category Risk Rating: | Low |
| Total Risk Index: | 1.02 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 0.5% |
| Total Assets: | $ 395 Mil |
| Share Class Assets: | $ 395 Mil |
| Turnover: | 19.0% |
| Expense Ratio: | 0.58% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 3.2 years | |||
| Average Tenure: 3.2 years | |||
| Managers (Year): Cogswell Seth (2023) | |||
Portfolio Composition (as of 3/28/25)
| # of Holdings: | 58 |
| % in Top 10 Holdings: | 19.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 5.5% |
Portfolio Allocation |
|
| Domestic Stock: | 92.3% |
| Foreign Stock: | 5.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Running Oak Capital LLC |
| Phone Number: | 800-617-0004 |
| Website: | |
| Inception Date: | June 7, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.58% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.45% |
