Fund Evaluator:
Redwheel Global Emerging Equity I (RWCIX)
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Fund Details
Redwheel Global Emerging Equity I Overview
Redwheel Global Emerging Equity I (RWCIX) is an actively managed International Equity Diversified Emerging Mkts fund. Redwheel launched the fund in 2017.
The investment seeks long-term capital appreciation. The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of emerging market companies, and in other instruments, principally derivatives and shares of investment companies (including exchange-traded funds ("ETFs")), that have economic characteristics similar to such securities. It invests in at least three emerging or frontier market countries. The fund may also invest in "out-of-the-money" convertible securities and may invest in securities of companies with any market capitalization.
About Redwheel Global Emerging Equity I (RWCIX)
There are 1 members of the management team with an average tenure of 9.67 years: John Malloy (2016). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI EM NR USD index with a weighting of 100%. Redwheel Global Emerging Equity I has 79 securities in its portfolio. The top 10 holdings constitute 35.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Redwheel Global Emerging Equity I is part of the Equity global asset class and is within the International Equity fund group. Redwheel Global Emerging Equity I has 94.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 4.3%. There is 94.7% 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). Redwheel Global Emerging Equity I has 1.0% of the portfolio in cash.
Assets Under Management
The fund has $104 million in total assets, which is below the $992 million average for the Diversified Emerging Mkts 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.
RWCIX 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 Redwheel Global Emerging Equity I expense ratio is high compared to funds in the Diversified Emerging Mkts category. Redwheel Global Emerging Equity I has an expense ratio of 1.24%, which is 7% 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. Redwheel Global Emerging Equity I has a portfolio turnover rate of 101%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.
Recently, in the month of August 2026, Redwheel Global Emerging Equity I returned 4.6%, which earned it a grade of B, as the Diversified Emerging Mkts category had an average return of 3.9%. 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 funds in that category.
Redwheel Global Emerging Equity I has a trailing yield of 0.74%, 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.
Redwheel Global Emerging Equity I Grades
Year to date, the fund has returned 8.7%, 15.0 percentage points worse than the category, which translates into a grade of F. The fund has returned 23.2% over the past year (grade of F), 14.1% over the past three years (grade of F) and 1.8% per year over the past five years (grade of F).
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RWCIX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| RWCIX Return (NAV) | 4.6% | -2.4% | 23.2% | 14.1% | 1.8% | na |
| RWCIX Grade | B | D | F | F | F | na |
| +/- Category | 0.7% | -1.3% | -14.3% | -7.6% | -5.0% | na |
| Diversified Emerging Mkts Avg | 3.9% | -1.2% | 37.5% | 21.7% | 6.8% | 8.9% |
| RWCIX Tax Cost Ratio | na | na | 0.3% | 0.3% | 1.3% | na |
RWCIX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RWCIX Return (NAV) | 8.7% | 39.9% | -2.1% | 5.5% | -24.5% | -5.1% | 34.5% | 23.8% | -27.4% | 41.1% | na |
| RWCIX Grade | F | A | F | F | D | D | A | B | F | B | na |
| +/- Category | -15.0% | 8.4% | -8.3% | -6.7% | -1.9% | -4.9% | 12.9% | 1.9% | -11.0% | 4.4% | na |
| Diversified Emerging Mkts Avg | 23.7% | 31.4% | 6.2% | 12.1% | -22.6% | -0.2% | 21.6% | 21.9% | -16.4% | 36.7% | 8.6% |
| Risk Measures | |
| Standard Deviation: | 17.9% |
| Total Risk Index: | 1.47 - High |
| Category Risk Index: | 1.10 - High |
| Category Risk Grade: | F (88% Rank) |
| Beta: | 1.11 |
| R-Squared: | 68% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.7% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $221 Mil |
| Fund Total Assets: | $ 104 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 101% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 9.7 years | |||
| Average Tenure: 9.7 years | |||
| Managers (Year): Malloy John (2016) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 79 |
| % in Top 10 Holdings: | 35.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 94.7% |
Portfolio Allocation |
|
| Domestic Stock: | 4.3% |
| Foreign Stock: | 94.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.0% |
Purchase Information
| Fund Family: | Redwheel |
| Phone Number: | 855-792-3863 |
| Website: |
| Status: | Open |
| Inception Date: | September 8, 2017 |
| Min. Initial Purchase: | $250,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.24% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | Redwheel Global Emerging Equity Ins |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
