Hotchkis & Wiley Capital Management · $912.1m in assets, October 8, 2026
An actively managed ETF: Hotchkis & Wiley's managers buy stocks and both investment-grade and high-yield bonds of companies they think the market misunderstands, using a value approach.
HWO, the Hotchkis & Wiley Opportunities Fund ($912 million), sits in StoryVector’s Beta Book: a manager chooses its holdings without a stated theme. It carries no market story, so it is not ranked against one.
HWO · the ETFFRI OCT 2Market price total return
+3.7%Total return since launch, July 2026
Checked, and added to the Beta Book
A manager chooses its holdings without a stated theme.
We check every ETF against the 22 narratives. This one follows the market, a factor or a manager’s choices rather than a story, so it has no narrative and no Share of Narrative. See the narratives on the board → · See the whole Beta Book →
FRI OCT 2MARKET PRICE TOTAL RETURN
1M
3M
YTD
1Y
3Y*
5Y*
HWO
−4.2%
–
–
–
–
–
The marketbroad US ETFs
+0.8%
+2.6%
+14.6%
+16.8%
+22.9%
+12.9%
1M, 3M, 1Y, 3Y, 5Y: one month to five years. YTD: year to date. * A year, annualised. A dash means the ETF has not traded for the whole period. Since it started trading on July 22, 2026: +3.7%.
$10,000 invested July 31, 2026
HWO $10,042The market $10,300
Total return on the market price, with each distribution reinvested on its ex-date. Not the NAV return the issuer publishes; the two differ when the ETF trades above or below the value of its holdings. The market is the asset-weighted return of broad US index ETFs. Past performance is no guarantee of future results.
FRI OCT 2MARKET PRICE TOTAL RETURN
HWO has traded for less than a year, so how it moves against the market is not shown yet.
Where it sits among discretionary Beta Book ETFs
Each dot is one of 96 unlevered discretionary Beta Book ETFs, placed by its return (up) and how much it swung (right) over the last year.
Risk
−5.7%Largest fall, last year
−5.3%Below its high now
0.90%Expense ratio, a year · 59th cheapest of 85
$8,040Traded each day, 3-month average
$912.1mAssets
Issued by Hotchkis & Wiley Capital Management · launched July 21, 2026
Cost against its peers
HWO is the 59th cheapest of 85 discretionary Beta Book ETFs. The dashed line is the middle of the group, 0.79% a year.
How it is built
An unlevered long ETF that owns its holdings directly.
Leverage1xMoves one for one with what it holds
OptionsNoneNo options on top of what it holds
ExposureOwns its holdingsHolds the securities or the asset directly
Underlyings1A single asset or index
Common questions
Why does HWO have no story?
A manager chooses its holdings without a stated theme.
Run an ETF? StoryVector shows issuers where their ETFs stand against the closest rivals, every week.
Narrative figures are from the weekly board. Performance is market price total return as of October 2, 2026. Assets are StoryVector’s weekly figure. Classification and measurement. Not investment advice. How the measurement works →