An actively managed ETF: TCW's managers pick companies tied to the supply chain, from US-listed stocks to shares listed in developed and emerging markets abroad.
SUPP, the TCW Transform Supply Chain ETF, is a $12 million ETF whose main story is the trade-war tax. Over the past year it returned +13.7%, against +16.8% for broad US ETFs. Figures to October 2, 2026; past performance, not a recommendation.
The narrative it carries
Its main narrative, at 0.7 of its exposure.
The trade-war tax →
Retailers, brands and US manufacturers: the companies that pay tariffs or are protected by them.
The band is where this narrative’s level sits among the 22 this week. QUIET means less talked about, not falling.
| # | ETF | SHARE | ASSETS | 1 YEAR | COST |
|---|---|---|---|---|---|
| 1 | XLY | 57.4% | $21.27bn | −7.3% | 0.08% |
| 2 | AIRR | 16.9% | $8.94bn | +10.0% | 0.69% |
| 3 | VCR | 16.6% | $6.16bn | −6.1% | 0.09% |
| 4 | FDIS | 4.4% | $1.63bn | −6.0% | – |
| 5 | IYC | 3.1% | $1.17bn | −8.3% | 0.37% |
| 25 other ETFs | 1.6% |
Share is each ETF’s slice of the capital carrying this narrative. 1 year is market price total return; cost is the expense ratio. See all 30 ETFs on the narrative page →
Also carries: The reshoring trade →
Infrastructure, critical metals and materials: what it takes to make more things at home.
FRI OCT 2MARKET PRICE TOTAL RETURN
| 1M | 3M | YTD | 1Y | 3Y* | 5Y* | |
|---|---|---|---|---|---|---|
| SUPP | +4.5% | −3.6% | +15.7% | +13.7% | +18.5% | – |
| The trade-war taxits narrative | −3.3% | −7.5% | −3.8% | −3.7% | +15.0% | +7.7% |
| 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 February 15, 2023: +14.0% a year.
$10,000 invested February 28, 2023
Year by year
Total return in each calendar year; this year is year to date. A year appears only if SUPP traded for all of it.
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 narrative is the asset-weighted return of the unlevered ETFs that carry it. 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
How closely it moves
SUPP moves closely with the market. When the market has moved 1%, SUPP has tended to move 1.11%.
SUPP moves closely with the trade-war tax. When the trade-war tax has moved 1%, SUPP has tended to move 0.77%.
Weekly returns over 157 weeks. The narrative is measured without SUPP in it, so it is not compared with itself.
ETFs it moves most and least like
Correlation of weekly returns over the last 3 years, among unlevered ETFs StoryVector covers.
Where it sits in The trade-war tax
Each dot is one of 13 unlevered ETFs whose main narrative is the trade-war tax, placed by its return (up) and how much it swung (right) over the last year.
Risk
Cost against its peers
SUPP is the 8th cheapest of 9 ETFs in the trade-war tax. The dashed line is the middle of the group, 0.37% a year.
How it is built
An unlevered long ETF that owns its holdings directly. It counts toward Share of Narrative.
Narrative exposure
Second narrative: not yet confirmed from a filing.
Common questions
What story is SUPP selling?
SUPP’s main story is the trade-war tax, which covers retailers, brands and US manufacturers: the companies that pay tariffs or are protected by them. Its second is the reshoring trade.
Which ETFs compete with SUPP?
The ETFs whose weekly returns move most like SUPP’s over the past 3 years are JMOM (0.90), MADE (0.90) and BIBL (0.90).
How has SUPP performed against its story?
Over the past year SUPP returned +13.7%, the ETFs carrying the trade-war tax −3.7% and broad US ETFs +16.8%, to October 2, 2026. Its weekly returns have a correlation of 0.77 with the story. Past performance only.
Run an ETF in the trade-war tax? StoryVector shows issuers where their ETFs stand against the closest rivals, every week.
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