RW vs. WAGN

Last updated Aug 1, 2026

RW (Rainwater Equity ETF) and WAGN (Pabrai Wagons ETF) are both Global Equities funds. Both are actively managed. Their 0.14 correlation means their historical movements had little consistent relationship. RW charges 1.25%/yr vs 0.90%/yr for WAGN.

Performance

RW vs. WAGN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rainwater Equity ETF (RW) and Pabrai Wagons ETF (WAGN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

RW

• 1D: 0.18%
• 1M: -1.46%
• 6M: 0.34%
• YTD: 1.78%
• 1Y: -2.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 1.19%

WAGN

• 1D: 0.49%
• 1M: 3.31%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RW Rainwater Equity ETF	$44.56K	$41.45K	$44.87K
WAGN Pabrai Wagons ETF	$2.64M	$2.26M	$2.19M

RW vs. WAGN - Yearly Performance Comparison

	2026 (YTD)
RW Rainwater Equity ETF	0.14%
WAGN Pabrai Wagons ETF	3.17%

Correlation

The correlation between RW and WAGN is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 30, 2026	0.14

Return for Risk

RW vs. WAGN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RW

RW Risk / Return Rank: 8
RW Sharpe Ratio Rank: 8
RW Sortino Ratio Rank: 7
RW Omega Ratio Rank: 7
RW Calmar Ratio Rank: 8
RW Martin Ratio Rank: 7

WAGN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RW vs. WAGN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rainwater Equity ETF (RW) and Pabrai Wagons ETF (WAGN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	RW	WAGN	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	—	—
Sortino ratio: Return per unit of downside risk	-0.21	—	—
Omega ratio: Gain probability vs. loss probability	0.98	—	—
Calmar ratio: Return relative to maximum drawdown	-0.21	—	—
Martin ratio: Return relative to average drawdown	-0.59	—	—

Drawdowns

RW vs. WAGN - Drawdown Comparison

The maximum RW drawdown since its inception was -17.04%, which is greater than WAGN's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for RW and WAGN.

Drawdown Indicators

	RW	WAGN	Difference
Max Drawdown Largest peak-to-trough decline	-17.04%	-1.36%	-15.68%
Max Drawdown (1Y) Largest decline over 1 year	-17.02%	—	—
Current Drawdown Current decline from peak	-4.34%	0.00%	-4.34%
Average Drawdown Average peak-to-trough decline	-5.07%	-0.56%	-4.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.01%	—	—

Volatility

Volatility by Period

	RW	WAGN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.81%	12.55%	+3.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.48%	12.55%	+2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.48%	12.55%	+2.93%

RW vs. WAGN - Expense Ratio Comparison

RW has a 1.25% expense ratio, which is higher than WAGN's 0.90% expense ratio.

Dividends

RW vs. WAGN - Dividend Comparison

RW's dividend yield for the trailing twelve months is around 0.10%, while WAGN has not paid dividends to shareholders.

Position	TTM	2025
RW Rainwater Equity ETF	0.10%	0.10%
WAGN Pabrai Wagons ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both RW and WAGN in my portfolio?

RW and WAGN have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RW or WAGN?

On fees, WAGN is cheaper at 0.90% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RW or WAGN?

WAGN is cheaper with a 0.90% expense ratio, compared with 1.25% for RW.

Which ETF pays a higher dividend yield, RW or WAGN?

RW has the higher dividend yield at 0.10%, compared with 0.00% for WAGN.

What is the main difference between RW and WAGN?

They also come from different issuers: Alpha Architect and Pabrai. Their fees differ too: 1.25% for RW and 0.90% for WAGN.