ETF Evaluator: Twin Oak Active Opportunities III ETF () Follow This ETF

Twin Oak Active Opportunities III ETF Overview

Twin Oak Active Opportunities III ETF (TOAO) is an actively managed Allocation Moderate Allocation exchange-traded fund (ETF). Twin Oak ETF Co launched the ETF in 2026.

The investment seeks long-term capital appreciation. The fund is an actively managed exchange-traded fund (“ETF”) whose investment objective is to seek long-term capital appreciation. The fund seeks to achieve its investment objective by investing in equity securities (e.g. common and preferred stock) of small, medium, and large companies and fixed-income securities such as government or corporate bonds issued by a variety of entities. The fund is non-diversified.

About Twin Oak Active Opportunities III ETF (TOAO)

There are 2 members of the management team with an average tenure of 0.27 years: Zachary Wainwright (2026) and Greg Stoner (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.

Twin Oak Active Opportunities III ETF has 52 securities in its portfolio. The top 10 holdings constitute 57.4% 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 Active Opportunities III ETF is part of the Allocation global asset class and is within the Allocation ETF group. Twin Oak Active Opportunities III ETF has 33.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 64.4% There is 33.7% allocated to foreign stock, and 0.2% 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). Twin Oak Active Opportunities III ETF has 0.2% of the portfolio in cash.

Assets Under Management

The fund has $432 million in total assets, which is above the $411 million average for the Moderate Allocation 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.

TOAO 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 Active Opportunities III ETF expense ratio is high compared to funds in the Moderate Allocation category. Twin Oak Active Opportunities III ETF has an expense ratio of 0.95%, which is the same as 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. Twin Oak Active Opportunities III 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 162% for the Moderate Allocation category.

Recently, in the month of July 2026, Twin Oak Active Opportunities III ETF returned 0.3%, which earned it a grade of B, as the Moderate Allocation category had an average return of -1.0%. 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 Active Opportunities III ETF has a trailing yield of 0.00%, which is below the 2.36% 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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