HWAY - ETF AI Analysis

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Themes US Infrastructure ETF (HWAY)

Rating:73Outperform

Price Target:―

HWAY, the Themes US Infrastructure ETF, has a solid overall rating driven by strong, diversified industrial and infrastructure leaders like Parker Hannifin, Caterpillar, and Quanta Services, which benefit from robust financial performance, positive earnings outlooks, and exposure to long-term infrastructure trends. Rail operators such as CSX, Union Pacific, and Norfolk Southern also support the fund with solid operations and strategic initiatives, though their high leverage, legal and competitive challenges, and valuation concerns, along with risks like overvaluation and debt at several holdings, slightly weigh on the rating. The main risk factor is that many top holdings share similar issues around high valuation and leverage, which could increase volatility if economic or interest-rate conditions worsen.

Positive Factors

Solid Recent Performance

The ETF has shown steady gains over the past month, three months, and year-to-date, indicating positive recent momentum.

Strong Industrial Leaders in Top Holdings

Several of the largest positions, such as major equipment and engineering companies, have delivered strong year-to-date performance, helping support the fund’s returns.

Moderate Expense Ratio

The fund’s expense ratio is reasonably low for a specialized thematic ETF, which helps investors keep more of their returns over time.

Negative Factors

Heavy Sector Concentration in Industrials

With most of the portfolio in industrials, the ETF is highly sensitive to downturns in that single sector.

Limited Geographic Diversification

The fund is overwhelmingly invested in U.S. companies, offering very little exposure to other regions.

Mixed Performance Among Top Holdings

A few of the larger positions have shown weak or slightly negative year-to-date performance, which can drag on overall fund results if that trend continues.

HWAY vs. SPDR S&P 500 ETF (SPY)

AUM2.32M

RegionNorth America

Expense Ratio0.29%

Beta1.10

IssuerThemes

Inception DateSep 12, 2024

Dividend Yield1.35%

Asset ClassEquity

Index TrackedSolactive United States Infrastructure Index - Benchmark TR Gross

Share Statistics

EPS (TTM)N/A

Shares OutstandingN/A

10 Day Avg. Volume986

30 Day Avg. Volume1,762

Financial Highlights & Ratios

PEG RatioN/A

Price to Book (P/B)N/A

Price to Sales (P/S)N/A

P/FCF RatioN/A

Enterprise Value/Market CapN/A

Enterprise Value/RevenueN/A

Enterprise Value/Gross ProfitN/A

Enterprise Value/EbitdaN/A

Forecast

1Y Price Target

35.22

Price Target Upside― Downside

Rating ConsensusModerate Buy

Number of Analyst Covering99

EPS Forecast (FY)N/A

Revenue Forecast (FY)N/A

HWAY Summary

HWAY, the Themes US Infrastructure ETF, follows the Solactive United States Infrastructure Index and focuses on companies tied to U.S. infrastructure, such as transportation, construction, and utilities. It holds well-known names like Caterpillar and Deere, along with major railroad and equipment firms. Someone might invest in this ETF to benefit from long-term government spending and modernization of roads, rail, and other critical systems, while getting diversification across many infrastructure companies. A key risk is that it is heavily concentrated in industrial and infrastructure-related stocks, so its value can rise or fall sharply with that sector.

How much will it cost me?The Themes US Infrastructure ETF (HWAY) has an expense ratio of 0.29%, which means you’ll pay $2.90 per year for every $1,000 invested. This is slightly higher than average for ETFs because it is actively managed to focus on a specific niche: U.S. infrastructure. The higher cost reflects the specialized approach and curated selection of companies in this sector.

What would affect this ETF?The HWAY ETF could benefit from increased government spending on infrastructure projects, modernization efforts, and the shift toward sustainable systems, as these trends align with its focus on transportation, utilities, and construction companies. However, potential risks include higher interest rates, which could increase borrowing costs for infrastructure projects, and economic slowdowns that might reduce funding or demand for large-scale development. Its heavy exposure to industrials and materials sectors makes it sensitive to changes in commodity prices and regulatory policies affecting construction and transportation industries.

HWAY Top 10 Holdings

HWAY is very much a U.S. industrials story, with heavy exposure to machinery, engineering, and railroads powering the fund. Caterpillar, Parker Hannifin, Emerson, and Quanta Services have been doing the heavy lifting lately, with rising share prices helped by strong earnings and infrastructure demand. Deere and United Rentals are also adding some punch, despite pockets of caution around debt and equipment cycles. On the flip side, building-materials giant CRH and rail names like CSX and Union Pacific have been more mixed, occasionally putting a small drag on this otherwise construction-focused portfolio.

Name	Company Name	Weight %	Market Value	Market Cap	Yearly Gain	Overall Rating
CAT	Caterpillar	5.47%	$126.87K	$307.63B	81.82%	76 Outperform
PH	Parker Hannifin	5.20%	$120.72K	$118.09B	34.50%	79 Outperform
DE	Deere	4.83%	$111.94K	$143.13B	13.05%	66 Neutral
EMR	Emerson Electric Company	4.67%	$108.31K	$82.56B	14.95%	76 Outperform
CRH	CRH plc	4.33%	$100.38K	£59.81B	12.62%	76 Outperform
CSX	CSX	4.27%	$99.16K	$70.31B	16.15%	78 Outperform
UNP	Union Pacific	4.22%	$97.80K	$139.45B	-3.26%	72 Outperform
PWR	Quanta Services	4.21%	$97.77K	$70.77B	57.26%	78 Outperform
NSC	Norfolk Southern	4.08%	$94.65K	$71.27B	16.35%	75 Outperform
URI	United Rentals	3.07%	$71.17K	$49.27B	5.94%	73 Outperform

HWAY Technical Analysis

Technical Analysis Sentiment

Positive

Last Price―

Price Trends

50DMA

31.85

Positive

100DMA

31.04

Positive

200DMA

29.28

Positive

Market Momentum

MACD

0.49

Positive

RSI

62.25

Neutral

STOCH

13.05

Positive

Evaluating momentum and price trends is crucial in ETF analysis to make informed investment decisions. For HWAY, the sentiment is Positive. The current price of undefined is equal to the 20-day moving average (MA) of 33.00, equal to the 50-day MA of 31.85, and equal to the 200-day MA of 29.28, indicating a bullish trend. The MACD of 0.49 indicates Positive momentum. The RSI at 62.25 is Neutral, neither overbought nor oversold. The STOCH value of 13.05 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HWAY.

HWAY Peer Comparison

Comparison Results

Name	Price	Price Target	AUM	Expense Ratio	Overall Rating
HWAY	―	―	$2.32M	0.29%	―
CEPI	―	―	$91.00M	0.85%	―
POWR	―	―	$89.03M	0.40%	―
GPTY	―	―	$74.45M	1.06%	―
RBLD	―	―	$19.94M	0.65%	―
SIMS	―	―	$8.51M	0.45%	―

Performance Comparison

HWAY

Themes US Infrastructure ETF

33.69

6.76

25.10%

CEPI

REX Crypto Equity Premium Income ETF

―

POWR

Ishares U.S. Power Infrastructure Etf

―

GPTY

YieldMax AI & Tech Portfolio Option Income ETF

―

RBLD

First Trust Alerian US NextGen Infrastructure ETF

―

SIMS

SPDR S&P Kensho Intelligent Structures ETF

―

Glossary

BuyAn ETF rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF is likely to deliver higher returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldAn ETF rated as a "Hold" s expected to perform in line with the overall market or a specific benchmark. This rating indicates that the ETF is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellAn ETF rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF may deliver lower returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst ETF Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in ETFs carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: ―

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