ETF overview
SPYA seeks total return through an actively managed US total market equity exposure with a hedge strategy. It gains exposure directly through US equity securities and ETFs or synthetically via derivatives. The fund uses both bottom-up and top-down approaches to construct the portfolio. The bottom-up approach, driven by the fund advisers fundamental research, focuses on individual securities or asset classes, while the top-down approach manages the overall portfolio characteristics and risks. The fund adviser also seeks to implement a hedging strategy utilizing option contracts, swaps, and other derivatives. In addition, the fund may invest its assets in cash and cash equivalents, or money market instruments for temporary defensive purposes in response to adverse market conditions. During such periods, the fund may invest in the Twin Oak Short Horizon Absolute Return for any purpose.
Fund facts
- Expense ratio
- 0.54%
- Fund assets
- 134.8M USD (all share classes)
- Issuer
- Twin Oak
- Inception date
- Jun 2, 2025
- Number of holdings
- 9
Breakdown
Holdings (9)
| Name | Ticker | Weight |
|---|---|---|
| Vanguard S&P 500 ETF | VOO | 37.30% |
| Twin Oak Short Horizon Absolute Return ETF | TOAK | 33.99% |
| STATE STREET SPDR S&P 500 ETF SWAP GS | 27.41% | |
| State Street SPDR S&P 500 ETF Trust | SPY | 18.34% |
| United States Treasury Bill 12/03/2026 | 7.06% | |
| SPDR S&P 500 ETF SWAP NOMURA | 0.87% | |
| GS Finance Corp 0% 03/11/2031 | 0.77% | |
| Citigroup Global Markets Holdings Inc/United States 0% 01/30/2031 | 0.76% | |
| SPY 11/30/2026 785 C | 0.26% |
Similar ETFs
- Manager Directed Portfolios - Twin Oak Active Opportunities ETFTSPX · Overlap 37% · Expense ratio 0.40%
- Rareview Systematic Equity ETFRSEE · Overlap 37% · Expense ratio 3.03%
- SmartShares - Smart US 500 ETFUSF.NZ · Overlap 37% · Expense ratio 0.34%
Overlap is the share of assets the two funds hold in common.
Historical returns do not guarantee future returns. This is not investment advice.

Torray Equity Income Fund - Twin Oak Endure ETF (SPYA)
- Expense ratio
- 0.54%
- Fund assets
- 134.8M USD (all share classes)
- Issuer
- Twin Oak
- Inception date
- Jun 2, 2025
- Number of holdings
- 9
| Name | Ticker | Weight |
|---|---|---|
| Vanguard S&P 500 ETF | VOO | 37.30% |
| Twin Oak Short Horizon Absolute Return ETF | TOAK | 33.99% |
| STATE STREET SPDR S&P 500 ETF SWAP GS | 27.41% | |
| State Street SPDR S&P 500 ETF Trust | SPY | 18.34% |
| United States Treasury Bill 12/03/2026 | 7.06% | |
| SPDR S&P 500 ETF SWAP NOMURA | 0.87% | |
| GS Finance Corp 0% 03/11/2031 | 0.77% | |
| Citigroup Global Markets Holdings Inc/United States 0% 01/30/2031 | 0.76% | |
| SPY 11/30/2026 785 C | 0.26% |
SPYA seeks total return through an actively managed US total market equity exposure with a hedge strategy. It gains exposure directly through US equity securities and ETFs or synthetically via derivatives. The fund uses both bottom-up and top-down approaches to construct the portfolio. The bottom-up approach, driven by the fund advisers fundamental research, focuses on individual securities or asset classes, while the top-down approach manages the overall portfolio characteristics and risks. The fund adviser also seeks to implement a hedging strategy utilizing option contracts, swaps, and other derivatives. In addition, the fund may invest its assets in cash and cash equivalents, or money market instruments for temporary defensive purposes in response to adverse market conditions. During such periods, the fund may invest in the Twin Oak Short Horizon Absolute Return for any purpose.
- Manager Directed Portfolios - Twin Oak Active Opportunities ETFTSPX · Overlap 37% · Expense ratio 0.40%
- Rareview Systematic Equity ETFRSEE · Overlap 37% · Expense ratio 3.03%
- SmartShares - Smart US 500 ETFUSF.NZ · Overlap 37% · Expense ratio 0.34%
Overlap is the share of assets the two funds hold in common.
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