TBLU
Tortoise Global Water ESG ETF
The Tortoise Global Water ESG ETF aims to provide investors with exposure to a diversified portfolio of companies involved in water-related industries while promoting environmental, social, and governance (ESG) principles.
Global
EQUITY
Passive
MANAGEMENT STYLE
55.3 M
ASSETS UNDER MGMT
40 bp
EXPENSES
Fund Basics
| Fund sponsor | Tortoise |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 14, 2017 |
| Assets (mns) | $55 |
| Expense ratio | 40 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| FERGUSON ENTERPRISES INC | 8.3 % |
| ECOLAB INC | 7.3 % |
| GEBERIT AG-REG | 4.2 % |
| XYLEM INC | 4.1 % |
| VEOLIA ENVIRONNEMENT | 4.0 % |
| VERALTO CORPORATION | 3.9 % |
| PENTAIR PLC | 3.8 % |
| AMERICAN WATER WORKS CO INC | 3.8 % |
| UNITED UTILITIES GROUP PLC | 3.7 % |
| IDEX CORP | 3.7 % |
Constituent Breakdown
| Number of holdings | 54 |
| Herfindahl-Hirschman Index | 353 |
| Wgt avg mkt cap (mns) | $16,915 |
| Large cap (>$10bn) | 57.8% |
| Mid cap ($2-10bn) | 28.5% |
| Small cap (<$2bn) | 3.5% |
| Developed mkts. | 0.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 50.9 % |
 |
BRITAIN | 12.3 % |
 |
SWITZERLAND | 9.3 % |
 |
JAPAN | 5.9 % |
 |
FRANCE | 4.0 % |
 |
CANADA | 3.7 % |
 |
BRAZIL | 3.2 % |
 |
HONG KONG | 1.6 % |
Historical Performance
Standardized Performance (as of 11/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 13.4% | 5.7% | 13.8% | 11.8% | 6.7% | -- | -- | 8.9% |
| Dividend Yield | 0.9% | 1.6% | 1.6% | 1.7% | 1.6% | -- | -- | 1.6% |
| Total Returns | 14.3% | 7.3% | 15.3% | 13.5% | 8.3% | -- | -- | 10.5% | Ann. Volatility | 16.6% | 16.4% | 15.3% | 15.4% | 17.1% | -- | -- | 19.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.61 | 52% |
| MSCI EAFE | 0.78 | 63% |
| MSCI Emg Mkts | 0.61 | 44% |
Liquidity Measures
| Avg. volume (000) | 2 |
| ADV traded (mns) | $0 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.31% |
Technical Indicators
| 30d moving avg. (EMA) | $52.75 |
| Relative strength (RSI) | 48 |
| MACD/Signal | -0.02/-0.14 |
| Bollinger Bands (Upper/Lower) | $54.15/$50.85 |
| Short interest (% of AUM) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. TBLU |
Expenses vs. TBLU |
ALTAR Score™ vs. TBLU |
|---|---|---|---|---|
| CGW | Invesco S&P Global Water Index ETF | 58.9% | +17 bp | +4.7% |
| PHO | Invesco Water Resources ETF | 50.9% | +20 bp | +4.9% |
| EBLU | Ecofin Global Water ESG Fund | 50.4% | 0 bp | +4.6% |
| FIW | First Trust Water ETF | 49.5% | +13 bp | +5.0% |
| PIO | Invesco Global Water ETF | 48.9% | +35 bp | +4.5% |
| EFRA | iShares Environmental Infrastructure and Industrials ETF | 46.1% | +7 bp | +5.3% |
| AQWA | Global X Clean Water ETF | 44.1% | +10 bp | +5.1% |
| SIMS | State Street SPDR S&P Kensho Intelligent Structures ETF | 15.0% | +5 bp | +5.1% |
| EVX | VanEck Environmental Services ETF | 14.1% | +15 bp | +2.6% |
| NVIR | Horizon Kinetics Energy and Remediation ETF | 13.1% | +45 bp | +6.6% |
Risk and Returns: TBLU vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/12/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
TBLU
4.7%
Cat. Avg
4.1%
ALTAR Score™ Calculation
Category Overview
There are 383 funds in the Global Equity category, with an average ALTAR Score™
of 4.1% and a standard deviation of
3.1%. TBLU's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places TBLU in the 57th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
TBLUSELL
U/W
HOLD
O/W
BUY