CGV — Conductor Global Equity Value ETF
Data updated: 2026-09-28
CGV — Conductor Global Equity Value ETF. Developed ex-US Small Cap Value Equity · $129.15M AUM. Holdings, fees, performance and SEC filings.
CGV Fund Overview
CGV — Conductor Global Equity Value ETF is a US ETF managed by Two Roads Shared Trust, categorised as Developed ex-US Small Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Two Roads Shared Trust
- Category: Developed ex-US Small Cap Value Equity
- Assets under management: $129.15M
- 1-year return: 20.2%
- Ticker: CGV
- SEC CIK: 0001552947
- SEC series ID: S000074951
- Share class ID: C000233407
CGV Investment Objective and Strategy
Conductor Global Equity Value ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Two Roads Shared Trust.
Investment objective
The Conductor Global Equity Value ETF (the ?Fund?) seeks to provide long-term risk-adjusted total return.
Principal investment strategy
The Fund is an actively managed exchange-traded fund (?ETF?) that normally invests at least 80% of its assets in equity securities or investments that are economically tied to equity securities. The Fund seeks to achieve its investment objective by investing, under normal circumstances, in a portfolio of equity securities of companies that are believed to exhibit strong fundamental attributes. The Fund?s investment adviser, IronHorse Capital LLC (?IronHorse? or the ?Adviser?), develops the composition of the Fund?s portfolio using technical, fundamental and quantitative analysis to select equity securities that meet specific value-oriented criteria. The Fund?s investment in shares of other investment companies, including exchange-traded funds (?ETFs?), will be counted toward the 80% policy discussed above to the extent such investments have economic characteristics similar to equity securities.
The Adviser employs a fundamentals-based quantitative factor model to attempt to identify investments that are undervalued by the market in comparison to the Adviser?s assessment of the investments? intrinsic value. The model relies upon fundamental metrics which include, but are not limited to: cash flow generation, profitability and balance sheet metrics. Once investment opportunities meeting these fundamental criteria are identified, the Adviser employs a technical model to measure relative price trends. The technical model evaluates the momentum, pricing behavior and chart patterns of each security to trigger buy and sell decisions. No individual securities will be purchased unless all specific fundamental and technical criteria are satisfied. The Adviser will generally sell an investment whose price the Adviser believes is no longer undervalued by the market in comparison to the Adviser?s assessment of the investments?
intrinsic value, as a result of a material change in the business of the issuer or a material appreciation in the price of the security, or if the Adviser believes that a more attractive investment opportunity becomes available. The Fund seeks to invest under normal circumstances in equity securities that are economically tied to at least three countries (one of which may be the United States). Under normal circumstances, the Fund invests at least 40% of its assets in issuers located outside the United States, unless market conditions are not deemed favorable by the Adviser, in which case the Fund would invest at least 30% of its assets in issuers located outside the United States. Equity securities in which the Fund may invest include common stocks and equity-equivalent securities. The Fund may invest in U.S.
and non-U.S. dollar-denominated securities of U.S. and foreign (non-U.S.) issuers, provided that such investments shall be in accordance with the limits set forth in the second sentence of this paragraph. The Fund may invest in common stocks of large-cap companies, as well as small and mid-cap companies. The Adviser typically purchases stocks on host exchanges of a company?s respective country of domicile, allowing the Fund to benefit from pure currency diversification. The Fund prioritizes managing risk exposures. When the Adviser?s macro analysis indicates that market risks have risen, the Fund may employ hedges such as cash or ETFs to preserve portfolio returns. The Fund may engage in active trading of portfolio securities to achieve its investment goal. The Fund may also engage in securities lending to generate income.
CGV Holdings
Top 10 holdings of Conductor Global Equity Value ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Bbh Sweep Vehicle | 4.25% |
| Dpm Metals, Inc. | 2.90% |
| Kandenko Co. Ltd. | 2.54% |
| Dws Group Gmbh & Co. Kgaa | 2.26% |
| Anritsu Corp. | 2.08% |
| Ono Pharmaceutical Co. Ltd. | 2.05% |
| First Resources Ltd. | 2.01% |
| Cohu, Inc. | 1.87% |
| Synergy Grid & Development Philippines, Inc. | 1.80% |
| Ithaca Energy PLC | 1.73% |
CGV Portfolio Allocation
Asset-class allocation of Conductor Global Equity Value ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 95.5% |
| Cash & Equivalents | 4.3% |
CGV Performance
Total returns for CGV (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 7.8% |
| 1 year | 20.2% |
| 3 years (annualised) | 10.0% |
CGV Risk Information
Risk metrics for CGV, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 18.1%
CGV Costs and Fees
CGV costs about $125 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.25%
- Gross expense ratio: 1.58%
- Portfolio turnover: 92%
- Brokerage commissions: 5.04 bps of average net assets (SEC N-CEN)
CGV Cashflows
Over the 12 months to 2026-07, Conductor Global Equity Value ETF had net outflows of $1.03M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-07 | $0 |
| 2026-06 | $1.16M |
| 2026-05 | −$4.85M |
| 2026-04 | $8.06M |
| 2026-03 | $0 |
| 2026-02 | −$2.18M |
CGV Debt Constituents
No individual debt constituents are reported in Conductor Global Equity Value ETF's latest SEC N-PORT filing.
CGV Prospectus and SEC Filings
Official Conductor Global Equity Value ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-02-27
- Prospectus (485BPOS) — filed 2025-02-28
- Prospectus supplement (497) — filed 2024-04-10
- Portfolio holdings (N-PORT) — filed 2026-09-28
- Portfolio holdings (N-PORT) — filed 2026-06-26
- Portfolio holdings (N-PORT) — filed 2026-03-30
- Annual census (N-CEN) — filed 2026-01-14
- Annual census (N-CEN) — filed 2025-01-14
Related Funds
Other Developed ex-US Small Cap Value Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.