- Delisting Date
- Jul 28, 2026
- Issuer
- Themes
- Inception Date
- Sep 12, 2024
- Region
- North America (U.S.)
- Leveraged
- 1x (No leverage)
- Index Tracked
- Solactive United States Infrastructure Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $4M
Share Price Chart
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Performance
HWAY Performance Chart
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Compare this symbol against anything
Returns By Period
Themes US Infrastructure ETF (HWAY) has returned 22.94% so far this year and 32.92% over the past 12 months.
Themes US Infrastructure ETF
- 1D
- 0.00%
- 1M
- -0.03%
- 6M
- 12.94%
- YTD
- 22.94%
- 1Y
- 32.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 25.86%
Benchmark (S&P 500 Index)
- 1D
- 1.48%
- 1M
- 1.57%
- 6M
- 8.95%
- YTD
- 11.03%
- 1Y
- 21.84%
- 3Y*
- 19.28%
- 5Y*
- 11.54%
- 10Y*
- 13.29%
- ALL TIME*
- 8.11%
HWAY Monthly Returns History
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.06% | 8.54% | -7.99% | 13.35% | -0.75% | 5.48% | -3.10% | 22.94% | |||||
| 2025 | 5.45% | -4.89% | -5.82% | 0.73% | 6.47% | 5.48% | 6.08% | 1.30% | 2.27% | 1.90% | 0.55% | -0.29% | 19.99% |
| 2024 | 7.96% | -0.01% | 9.76% | -11.87% | 4.42% |
Benchmark Metrics
Themes US Infrastructure ETF has an annualized alpha of 8.14%, beta of 1.05, and R2 of 0.59 versus S&P 500 Index. Calculated based on daily prices since September 12, 2024.
- This ETF captured 142.25% of S&P 500 Index gains and 106.53% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- This ETF generated an annualized alpha of 8.14% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 1.05 and R2 of 0.59, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 8.14%
- Beta
- 1.05
- R²
- 0.59
- Upside Capture
- 142.25%
- Downside Capture
- 106.53%
Expense Ratio
HWAY has an expense ratio of 0.29%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HWAY ranks 57 for risk / return — above 57% of ETFs peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Themes US Infrastructure ETF (HWAY) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HWAY | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.31 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 2.41 | -0.05 |
| Martin ratioReturn relative to average drawdown | 7.98 | 10.22 | -2.24 |
Dividends
Dividend History
Themes US Infrastructure ETF provided a 1.05% dividend yield over the last twelve months, with an annual payout of $0.40 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $0.40 | $0.40 | $0.06 |
Dividend yield | 1.05% | 1.29% | 0.22% |
Monthly Dividends
The table displays the monthly dividend distributions for Themes US Infrastructure ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.40 | $0.40 |
| 2024 | $0.06 | $0.06 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Themes US Infrastructure ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Themes US Infrastructure ETF was 25.96%, occurring on Apr 8, 2025. Recovery took 74 trading sessions.
The current Themes US Infrastructure ETF drawdown is 4.57%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-25.96%Apr 2025 | 4mo 13d | 3mo 18d | 8mo 1dNov 2024 - Jul 2025 | 2025 selloff2025 |
-12.63%Mar 2026 | 1mo 5d | 24d | 1mo 29dFeb 2026 - Apr 2026 | — |
-7.42%Jul 2026 | 24d | — | 1mo 9dJun 2026 - now | — |
-7.19%May 2026 | 12d | 27d | 1mo 9dMay 2026 - Jun 2026 | — |
-5.78%Nov 2025 | 21d | 13d | 1mo 4dOct 2025 - Dec 2025 | — |
Drawdown Indicators
| HWAY | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.96% | -56.78% | +30.82% |
Max Drawdown (1Y)Largest decline over 1 year | -12.63% | -9.10% | -3.53% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -4.57% | -0.12% | -4.45% |
Average DrawdownAverage peak-to-trough decline | -5.20% | -10.70% | +5.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.73% | 2.14% | +1.59% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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