ETF Evaluator:
Twin Oak Active Opportunities ETF ()
Follow This ETF
(as of Aug 13)
Best Performing in Moderate Allocation Over the Last Year
| 29.1% | Adaptive Core ETF (RULE) |
| 21.3% | Monarch Volume Factor Dividend Tree ETF (MVFD) |
| 19.5% | Avantis Moderate Allocation ETF (AVMA) |
| 19.4% | Ned Davis Research 360 Dyn Allc ETF (NDAA) |
| 16.0% | SMI 3Fourteen REAL Asset Allocation ETF (RAA) |
Risk
Index
Risk
Index
ETF Details
Twin Oak Active Opportunities ETF Overview
Twin Oak Active Opportunities ETF (TSPX) is an actively managed Allocation Moderate Allocation exchange-traded fund (ETF). Twin Oak ETF Co launched the ETF in 2025.
The investment seeks long-term capital appreciation.
The fund seeks to achieve its objective by investing in a mix of individual 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. These fixed-income securities may have varying maturities (e.g. short-term, intermediate or long-term) and credit qualities (e.g. investment grade or below investment grade). It is non-diversified.
About Twin Oak Active Opportunities ETF (TSPX)
There are 2 members of the management team with an average tenure of 1.44 years: Zachary Wainwright (2025) and Greg Stoner (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Twin Oak Active Opportunities ETF has 5 securities in its portfolio. The top 10 holdings constitute 98.4% 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 ETF is part of the Allocation global asset class and is within the Allocation ETF group. Twin Oak Active Opportunities ETF has 3.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 80.9% There is 0.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 10.2% (6.9% domestic bond, 3.3% foreign bond and 0.0% convertible bond). Twin Oak Active Opportunities ETF has 8.4% of the portfolio in cash.
Assets Under Management
The fund has $238 million in total assets, which is below 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.
TSPX 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 ETF expense ratio is high compared to funds in the Moderate Allocation category. Twin Oak Active Opportunities ETF has an expense ratio of 1.01%, which is 6% 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. Twin Oak Active Opportunities ETF has a portfolio turnover rate of 73%, which indicates that it holds its assets around / 0.0 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 ETF returned 0.0%, 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 ETF has a trailing yield of 2.00%, 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.
Twin Oak Active Opportunities ETF Grades
Year to date, the ETF has returned 8.0%, 0.6 percentage points better than the category, which translates into a grade of B. The fund has returned 15.2% over the past year (grade of B).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Twin Oak Active Opportunities ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
TSPX 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 |
|
| TSPX Return (NAV) | 0.0% | 3.4% | 15.2% | na | na | na |
| TSPX Return (Price) | 0.0% | 11.0% | 15.2% | na | na | na |
| NAV +/- Price Return | -0.014% | -7.598% | -0.017% | na | na | na |
| Moderate Allocation Avg | -1.0% | 1.5% | 13.8% | 10.7% | 4.9% | na |
| TSPX Grade (NAV) | B | A | B | na | na | na |
| +/- Category (NAV) | 1.0% | 1.9% | 1.4% | na | na | na |
| TSPX Tax-Cost Ratio | na | na | 0.9% | na | na | na |
TSPX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TSPX Return (NAV) | 8.0% | na | na | na | na | na | na | na | na | na | na |
| TSPX Return (Price) | 7.7% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.035% | na | na | na | na | na | na | na | na | na | na |
| Moderate Allocation Avg | 7.4% | 10.4% | 12.0% | 10.2% | -14.7% | 13.8% | 11.5% | 18.3% | -7.5% | na | na |
| TSPX Grade (NAV) | B | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.6% | 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: | 2.0% |
| Total Assets: | $ 238 Mil |
| Share Class Assets: | $ 238 Mil |
| Turnover: | 73.0% |
| Expense Ratio: | 1.01% |
| 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: 1.4 years | |||
| Average Tenure: 1.4 years | |||
| Managers (Year): Wainwright Zachary (2025), Stoner Greg (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 5 |
| % in Top 10 Holdings: | 98.4% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 3.7% |
Portfolio Allocation |
|
| Domestic Stock: | 80.9% |
| Foreign Stock: | 0.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 6.9% |
| Foreign Bond: | 3.3% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 8.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Twin Oak ETF Co |
| Phone Number: | 800-617-0004 |
| Website: | |
| Inception Date: | February 20, 2025 |
Expenses and Fees
| Expense Ratio (%): | 1.01% (Rating: High) |
| Category Average Expense Ratio (%): | 0.95% |
