ETF Evaluator:
Pabrai Wagons ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Global Small/Mid Stock Over the Last Year
| 34.7% | Global X ClimateTech ETF (CTEC) |
| 34.7% | Tweedy, Browne Insider + Value ETF (COPY) |
| 34.4% | Pabrai Wagons ETF (WAGN) |
| 32.3% | Avantis All Equity Markets Value ETF (AVGV) |
| 32.0% | Invesco Global Clean Energy ETF (PBD) |
Risk
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Risk
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ETF Details
Pabrai Wagons ETF Overview
Pabrai Wagons ETF (WAGN) is an actively managed International Equity Global Small/Mid Stock exchange-traded fund (ETF). Pabrai Wagons Fund launched the ETF in 2023.
The investment seeks to achieve long-term capital appreciation.
Under normal circumstances, the fund aims to achieve its investment objective by investing at least 80% of the value of its net assets (plus any borrowings for investment purposes) in equity securities. Equity securities that the fund will invest in consists primarily of common stocks of companies of any size market capitalization. The fund is non-diversified.
About Pabrai Wagons ETF (WAGN)
There are 1 members of the management team with an average tenure of 2.84 years: Mohnish Pabrai (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Pabrai Wagons ETF has 23 securities in its portfolio. The top 10 holdings constitute 65.4% 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.
Pabrai Wagons ETF is part of the Equity global asset class and is within the International Equity ETF group. Pabrai Wagons ETF has 70.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 29.8% There is 70.3% 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). Pabrai Wagons ETF has 0.9% of the portfolio in cash.
Assets Under Management
The fund has $244 million in total assets, which is below the $286 million average for the Global Small/Mid Stock 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.
WAGN 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 Pabrai Wagons ETF expense ratio is high compared to funds in the Global Small/Mid Stock category. Pabrai Wagons ETF has an expense ratio of 0.90%, which is 32% higher than its category average, making the fund expense ratio grade a F. 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. Pabrai Wagons ETF has a portfolio turnover rate of 69%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 94% for the Global Small/Mid Stock category.
Recently, in the month of July 2026, Pabrai Wagons ETF returned 3.9%, which earned it a grade of A, as the Global Small/Mid Stock category had an average return of -3.4%. 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.
Pabrai Wagons ETF has a trailing yield of 0.00%, which is below the 1.65% 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.
Pabrai Wagons ETF Grades
Year to date, the ETF has returned 16.5%, 4.0 percentage points better than the category, which translates into a grade of B. The fund has returned 34.4% over the past year (grade of A).
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WAGN 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 |
|
| WAGN Return (NAV) | 3.9% | -2.9% | 34.4% | na | na | na |
| WAGN Return (Price) | 4.2% | -3.1% | 35.4% | na | na | na |
| NAV +/- Price Return | -0.271% | 0.186% | -1.039% | na | na | na |
| Global Small/Mid Stock Avg | -3.4% | -2.0% | 21.6% | 9.0% | -0.7% | 3.2% |
| WAGN Grade (NAV) | A | D | A | na | na | na |
| +/- Category (NAV) | 7.4% | -0.9% | 12.8% | na | na | na |
| WAGN Tax-Cost Ratio | na | na | 0.3% | na | na | na |
WAGN Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WAGN Return (NAV) | 16.5% | 3.7% | 11.2% | na | na | na | na | na | na | na | na |
| WAGN Return (Price) | 17.4% | 3.7% | 11.2% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.055% | 0.000% | 0.000% | na | na | na | na | na | na | na | na |
| Global Small/Mid Stock Avg | 12.5% | 21.5% | 3.5% | 3.0% | -21.6% | 0.3% | 44.8% | 26.2% | -16.9% | 19.7% | 3.3% |
| WAGN Grade (NAV) | B | F | B | na | na | na | na | na | na | na | na |
| +/- Category | 4.0% | -17.8% | 7.7% | 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: | 0.0% |
| Total Assets: | $ 244 Mil |
| Share Class Assets: | $ 244 Mil |
| Turnover: | 69.3% |
| Expense Ratio: | 0.90% |
| 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: 2.8 years | |||
| Average Tenure: 2.8 years | |||
| Managers (Year): Pabrai Mohnish (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 23 |
| % in Top 10 Holdings: | 65.4% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 70.3% |
Portfolio Allocation |
|
| Domestic Stock: | 29.8% |
| Foreign Stock: | 70.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -1.0% |
| Cash: | 0.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Pabrai Wagons Fund |
| Phone Number: | 626-914-7363 |
| Website: | |
| Inception Date: | September 29, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.90% (Rating: High) |
| Category Average Expense Ratio (%): | 0.68% |
