ETF Evaluator:
Twin Oak Endure ETF ()
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(as of Jun 30)
Best Performing in Equity Hedged Over the Last Year
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Risk
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Risk
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ETF Details
Twin Oak Endure ETF Overview
Twin Oak Endure ETF (SPYA) is an actively managed Nontraditional Equity Equity Hedged exchange-traded fund (ETF). Twin Oak ETF Co launched the ETF in 2025.
The investment seeks total return.
The fund is an actively managed exchange-traded fund (“ETF”) whose investment objective is to seek total return. The fund seeks to achieve its investment objective by investing in equity securities of small, medium, and large companies. The fund uses both a “bottom-up” approach to selecting investments, focusing on the analysis of individual securities as well as a “top-down” approach to manage the overall portfolio characteristics and risks. The fund is non-diversified.
About Twin Oak Endure ETF (SPYA)
There are 1 members of the management team with an average tenure of 1.16 years: Zachary Wainwright (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Twin Oak Endure ETF has 16 securities in its portfolio. The top 10 holdings constitute 126.0% 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.
Twin Oak Endure ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. Twin Oak Endure ETF has 0.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 149.2% There is 0.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 1.6% (1.6% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Twin Oak Endure ETF has -51.6% of the portfolio in cash.
Assets Under Management
The fund has $131 million in total assets, which is below the $294 million average for the Equity Hedged 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.
SPYA 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 Twin Oak Endure ETF expense ratio is average compared to funds in the Equity Hedged category. Twin Oak Endure ETF has an expense ratio of 0.49%, which is 36% lower than its category average, making the fund expense ratio grade a B. 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. Twin Oak Endure 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 97% for the Equity Hedged category.
Recently, in the month of July 2026, Twin Oak Endure ETF returned -0.2%, which earned it a grade of C, as the Equity Hedged category had an average return of -1.4%. 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.
Twin Oak Endure ETF has a trailing yield of 0.35%, which is below the 3.45% 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.
Twin Oak Endure ETF Grades
Year to date, the ETF has returned 7.0%, 0.1 percentage points worse than the category, which translates into a grade of C. The fund has returned 14.1% over the past year (grade of C).
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SPYA 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 |
|
| SPYA Return (NAV) | -0.2% | 3.8% | 14.1% | na | na | na |
| SPYA Return (Price) | 0.0% | 4.0% | 14.2% | na | na | na |
| NAV +/- Price Return | -0.195% | -0.182% | -0.174% | na | na | na |
| Equity Hedged Avg | -1.4% | 1.7% | 13.6% | 12.0% | 6.6% | 7.6% |
| SPYA Grade (NAV) | C | B | C | na | na | na |
| +/- Category (NAV) | 1.2% | 2.1% | 0.5% | na | na | na |
| SPYA Tax-Cost Ratio | na | na | 0.2% | na | na | na |
SPYA Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SPYA Return (NAV) | 7.0% | na | na | na | na | na | na | na | na | na | na |
| SPYA Return (Price) | 7.1% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.005% | na | na | na | na | na | na | na | na | na | na |
| Equity Hedged Avg | 7.1% | 12.6% | 14.6% | 14.8% | -12.9% | 15.6% | 10.2% | 9.9% | -6.3% | 12.2% | 3.0% |
| SPYA Grade (NAV) | C | na | na | na | na | na | na | na | na | na | na |
| +/- Category | -0.1% | 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: | 0.4% |
| Total Assets: | $ 132 Mil |
| Share Class Assets: | $ 132 Mil |
| Turnover: | 0.0% |
| Expense Ratio: | 0.49% |
| 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: 1 | |||
| Longest Tenure: 1.2 years | |||
| Average Tenure: 1.2 years | |||
| Managers (Year): Wainwright Zachary (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 16 |
| % in Top 10 Holdings: | 126.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.8% |
Portfolio Allocation |
|
| Domestic Stock: | 149.2% |
| Foreign Stock: | 0.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 1.6% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -51.6% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Twin Oak ETF Co |
| Phone Number: | 800-617-0004 |
| Website: | |
| Inception Date: | June 2, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.49% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.76% |
