California Water Service (CWT)
Market Price (12/29/2025): $43.41 | Market Cap: $2.6 BilSector: Utilities | Industry: Water Utilities
California Water Service (CWT)
Market Price (12/29/2025): $43.41Market Cap: $2.6 BilSector: UtilitiesIndustry: Water Utilities
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.1%, Dividend Yield is 2.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9% | Weak multi-year price returns2Y Excs Rtn is -59%, 3Y Excs Rtn is -105% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 56% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.6% | |
| Low stock price volatilityVol 12M is 23% | Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -18% | |
| Megatrend and thematic driversMegatrends include Water Infrastructure, and Smart Grids & Grid Modernization. Themes include Water Treatment & Delivery, Wastewater Management, Show more. | Key risksCWT key risks include [1] unfavorable regulatory decisions impacting cost recovery and rates, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.1%, Dividend Yield is 2.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32% |
| Low stock price volatilityVol 12M is 23% |
| Megatrend and thematic driversMegatrends include Water Infrastructure, and Smart Grids & Grid Modernization. Themes include Water Treatment & Delivery, Wastewater Management, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -59%, 3Y Excs Rtn is -105% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 56% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.6% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -18% |
| Key risksCWT key risks include [1] unfavorable regulatory decisions impacting cost recovery and rates, Show more. |
Why The Stock Moved
Qualitative Assessment
AI Analysis | Feedback
1. Delayed Regulatory Decision on General Rate Case: A significant factor was the delayed proposed decision from the California Public Utilities Commission (CPUC) regarding California Water Service Company's 2021 general rate case (GRC). The CPUC extended the completion date to December 31, 2023, introducing uncertainty regarding future rates and regulatory mechanisms.
2. Decline in Third Quarter 2023 Financial Results: The delay in the GRC directly impacted the company's financial performance. For the third quarter ended September 30, 2023, net income attributable to the Group decreased to $34.4 million, or $0.60 diluted earnings per share, compared to $55.9 million, or $1.03 diluted earnings per share, for the same period in 2022.
Show more
Stock Movement Drivers
Fundamental Drivers
The -4.3% change in CWT stock from 9/28/2025 to 12/28/2025 was primarily driven by a -4.7% change in the company's P/E Multiple.| 9282025 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 45.38 | 43.41 | -4.33% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 990.68 | 1002.36 | 1.18% |
| Net Income Margin (%) | 13.71% | 13.61% | -0.76% |
| P/E Multiple | 19.90 | 18.96 | -4.70% |
| Shares Outstanding (Mil) | 59.57 | 59.59 | -0.02% |
| Cumulative Contribution | -4.33% |
Market Drivers
9/28/2025 to 12/28/2025| Return | Correlation | |
|---|---|---|
| CWT | -4.3% | |
| Market (SPY) | 4.3% | -8.6% |
| Sector (XLU) | -1.4% | 12.3% |
Fundamental Drivers
The -3.3% change in CWT stock from 6/29/2025 to 12/28/2025 was primarily driven by a -4.7% change in the company's P/E Multiple.| 6292025 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 44.89 | 43.41 | -3.29% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 970.03 | 1002.36 | 3.33% |
| Net Income Margin (%) | 13.84% | 13.61% | -1.66% |
| P/E Multiple | 19.90 | 18.96 | -4.71% |
| Shares Outstanding (Mil) | 59.51 | 59.59 | -0.12% |
| Cumulative Contribution | -3.29% |
Market Drivers
6/29/2025 to 12/28/2025| Return | Correlation | |
|---|---|---|
| CWT | -3.3% | |
| Market (SPY) | 12.6% | -3.8% |
| Sector (XLU) | 5.9% | 24.9% |
Fundamental Drivers
The -2.3% change in CWT stock from 12/28/2024 to 12/28/2025 was primarily driven by a -30.4% change in the company's Net Income Margin (%).| 12282024 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 44.42 | 43.41 | -2.28% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1029.12 | 1002.36 | -2.60% |
| Net Income Margin (%) | 19.56% | 13.61% | -30.43% |
| P/E Multiple | 13.01 | 18.96 | 45.82% |
| Shares Outstanding (Mil) | 58.93 | 59.59 | -1.11% |
| Cumulative Contribution | -2.29% |
Market Drivers
12/28/2024 to 12/28/2025| Return | Correlation | |
|---|---|---|
| CWT | -2.3% | |
| Market (SPY) | 17.0% | -1.7% |
| Sector (XLU) | 14.8% | 33.8% |
Fundamental Drivers
The -25.3% change in CWT stock from 12/29/2022 to 12/28/2025 was primarily driven by a -51.7% change in the company's P/E Multiple.| 12292022 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 58.13 | 43.41 | -25.32% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 818.82 | 1002.36 | 22.41% |
| Net Income Margin (%) | 9.76% | 13.61% | 39.36% |
| P/E Multiple | 39.27 | 18.96 | -51.70% |
| Shares Outstanding (Mil) | 54.01 | 59.59 | -10.33% |
| Cumulative Contribution | -26.11% |
Market Drivers
12/29/2023 to 12/28/2025| Return | Correlation | |
|---|---|---|
| CWT | -12.1% | |
| Market (SPY) | 48.4% | 6.1% |
| Sector (XLU) | 42.3% | 45.4% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CWT Return | 7% | 35% | -14% | -13% | -11% | -2% | -5% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 150% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 114% |
Monthly Win Rates [3] | |||||||
| CWT Win Rate | 58% | 75% | 50% | 58% | 50% | 42% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| CWT Max Drawdown | -18% | -2% | -32% | -23% | -15% | -8% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)
How Low Can It Go
| Event | CWT | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -35.6% | -25.4% |
| % Gain to Breakeven | 55.3% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -26.7% | -33.9% |
| % Gain to Breakeven | 36.3% | 51.3% |
| Time to Breakeven | 105 days | 148 days |
| 2018 Correction | ||
| % Loss | -22.4% | -19.8% |
| % Gain to Breakeven | 28.8% | 24.7% |
| Time to Breakeven | 262 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -33.0% | -56.8% |
| % Gain to Breakeven | 49.3% | 131.3% |
| Time to Breakeven | 53 days | 1,480 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
California Water Service's stock fell -35.6% during the 2022 Inflation Shock from a high on 1/3/2022. A -35.6% loss requires a 55.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
AI Analysis | Feedback
Here are 1-2 brief analogies for California Water Service (CWT):
- It's like your local power or gas company, but exclusively focused on delivering clean water and managing wastewater.
- Think of it as the Southern Company or Consolidated Edison of water utilities.
AI Analysis | Feedback
- Potable Water Supply: Provides safe, reliable drinking water to residential, commercial, industrial, and public authority customers through an extensive network.
- Wastewater Treatment and Collection: Offers collection and treatment of wastewater services to ensure public health and environmental protection in specific service areas.
AI Analysis | Feedback
California Water Service (CWT) primarily sells water directly to end-users within its service areas, which include individuals, businesses, and public entities. It does not primarily sell to other water companies for resale.
Its major customer categories include:
- Residential: This category comprises individual households that use water for domestic purposes such as drinking, cooking, cleaning, and landscaping.
- Commercial: This category includes businesses such as offices, retail stores, restaurants, hotels, and other service-oriented establishments that use water for their operations.
- Industrial: This category serves manufacturing plants, processing facilities, and other large industrial operations that require significant water volumes for production, cooling, or other industrial processes.
AI Analysis | Feedback
null
AI Analysis | Feedback
Martin A. Kropelnicki Chairman, President & CEO
Mr. Kropelnicki was named Chairman, President & CEO in May 2023, after serving as President & CEO since September 2013. Prior to joining California Water Service Group in 2006 as Vice President, Chief Financial Officer (CFO), and Treasurer, he held executive positions at PowerLight Corporation, Hall Kinion & Associates, Deloitte & Touche Consulting Group, and Pacific Gas & Electric Company. He also served as CFO/Treasurer at Washington Water Service Co., New Mexico Water Service Co., and Hawaii Water Service Company. Mr. Kropelnicki has over 33 years of experience in finance and operations, including more than 15 years as CFO at publicly listed companies.
James P. Lynch Senior Vice President, Chief Financial Officer & Treasurer
Mr. Lynch was appointed Senior Vice President, Chief Financial Officer (CFO), and Treasurer in January 2024. He brings over 22 years of rate-regulated utility experience, including a 12-year tenure as CFO and Treasurer and a one-year term as Chief Accounting Officer of SJW Group. Before his time at SJW Group, he worked as a lead audit partner with KPMG, overseeing a portfolio of global and domestic publicly traded and privately held companies, including California Water Service Group. His expertise spans finance, investor relations, regulated utility accounting, and mergers and acquisitions.
Paul G. Townsley Vice President, Corporate Development & Chief Regulatory Officer
Mr. Townsley serves as Vice President, Corporate Development and Chief Regulatory Officer. He previously held roles as VP:Engineering, VP:Rates & Regulatory Matters, and VP:Regulatory Matters & Relations at California Water Service Group. His career also includes positions as VP:Regulatory Matters at New Mexico Water Service Co., President at Arizona American Water, and VP:Regulatory Matters at Hawaii Water Service Company.
Michael B. Luu Vice President, Information Technology, Chief Risk Officer & Chief Information Officer
Mr. Luu holds the titles of Vice President, Information Technology, Chief Risk Officer, and Chief Information Officer. He has 18 years of experience in various business functions, with 11 years in management roles covering strategic planning, business process improvement, IT project management, supply chain management, and field operations. Under his leadership, Cal Water developed a robust enterprise risk management (ERM) model, its first cybersecurity practice, and an award-winning customer experience program.
Greg A. Milleman Vice President, Rates and Regulatory Affairs
Mr. Milleman is the Vice President of Rates and Regulatory Affairs. In this role, he is responsible for managing the company's economic regulatory activities with the public utilities commissions in California, Hawaii, New Mexico, and Washington. Before joining California Water Service Group, he spent 21 years at Valencia Water Company, where he concluded his tenure as Senior Vice President of Administration.
AI Analysis | Feedback
The key risks to California Water Service (CWT) are:-
Regulatory and Political Uncertainty
California Water Service operates in a highly regulated environment, making it vulnerable to decisions by state regulatory commissions, such as the California Public Utilities Commission (CPUC). These decisions directly impact the company's ability to recover costs, secure necessary rate increases, and adapt to new compliance requirements. Political shifts and changes in regulatory policies can introduce increased operational costs or constraints, potentially affecting profit margins and requiring delicate negotiations for rate adjustments.
-
Environmental and Climate Risks
The business is significantly exposed to environmental factors, including droughts, climate change, and natural disasters like wildfires and earthquakes. CWT's reliance on natural water sources makes it highly vulnerable to fluctuations in water availability, which can directly affect water sales and overall operating results. These risks necessitate continuous monitoring and adaptation to mitigate their impact on business performance.
-
Aging Infrastructure and High Capital Expenditure Needs
California's water infrastructure, much of which is decades old, requires substantial and ongoing investment for replacement, upgrades, and maintenance to ensure a reliable and high-quality water supply. California Water Service has proposed significant capital investments, for example, over $1.6 billion from 2025 to 2027, with a large portion earmarked for replacing aging pipelines. These considerable capital expenditure needs can put pressure on profit margins and often require regulatory approval for rate adjustments to fund these essential improvements.
AI Analysis | Feedback
The escalating impact of climate change, particularly prolonged droughts and increased water scarcity in California, poses a clear emerging threat to California Water Service (CWT).
AI Analysis | Feedback
California Water Service Group (CWT) primarily provides drinking water and wastewater services. The addressable markets for their main products or services in their operational regions are as follows:
- California: Null
- Hawaii: The market size for the Water Supply & Irrigation Systems industry in Hawaii is $483.9 million in 2025. This market includes the operation of water-treatment plants, water-pumping stations, aqueducts, and water-distribution mains.
- New Mexico: Null
- Texas: Null
- Washington: Null
AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for California Water Service (CWT) over the next 2-3 years:
- General Rate Case (GRC) Approvals and Rate Increases: California Water Service's revenue growth is significantly driven by approvals from the California Public Utilities Commission (CPUC) for rate increases through its General Rate Cases. The company submitted its 2024 California GRC, proposing revenue increases of 17.1% in 2026, 7.7% in 2027, and 8.1% in 2028. Rate changes have already contributed to revenue increases in Q2 2025.
- Infrastructure Investment and Rate Base Growth: CWT plans substantial capital investments in its water system infrastructure. The company proposes to invest more than $1.6 billion in its districts from 2025-2027. These investments are projected to result in a compounded annual rate base growth of almost 12% through 2028.
- Expansion into New Markets, particularly Texas: California Water Service is actively pursuing growth in new service areas. The company's expansion strategy in Texas is gaining traction, with ongoing customer growth in the Austin-San Antonio region and anticipated new deals in Q4 2025 and into 2026.
- Investments in PFAS Treatment: Significant capital is being allocated to address per- and polyfluoroalkyl substances (PFAS) in water systems. CWT plans to invest approximately $160 million in PFAS treatment over the next two years, with estimated project expenses totaling around $217 million between 2025 and 2029. These necessary investments will likely be incorporated into the company's rate base and recovered through future rate adjustments, thereby contributing to revenue growth.
AI Analysis | Feedback
Share Issuance
- California Water Service Group had net total equity issued of approximately $82 million in 2020, $196 million in 2021, $105 million in 2022, $113 million in 2023, and $88 million in 2024.
- On May 14, 2025, the company entered into an at-the-market (ATM) equity distribution agreement to sell up to $350.0 million in common stock over three years, though this program was not utilized in Q2 2025.
Inbound Investments
- The company received $35 million year-to-date in 2025 from PFAS settlements, with an initial $10.6 million payment in May 2025 from a settlement with 3M.
Capital Expenditures
- Capital expenditures were approximately $298.7 million in 2020, $293.2 million in 2021, $335.5 million in 2022, $386.6 million in 2023, and $470.8 million in 2024. For the latest twelve months ending June 30, 2025, capital expenditures were $485.9 million.
- California Water Service proposes to invest more than $1.6 billion in its California districts from 2025-2027, including approximately $1.3 billion of newly proposed capital investments. Additionally, the company expects to incur about $217 million in PFAS project expenses between 2025 and 2029 for treatment and well replacement.
- The primary focus of these capital expenditures includes replacing aging water pipelines (estimated at 46% of new improvements), upgrading water quality to treat contaminants, enhancing infrastructure for reliable water delivery, and improving physical and cyber security.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to CWT. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | PEG | Public Service Enterprise | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.3% | -0.3% | -2.4% |
| 09262025 | PCG | PG&E | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 5.5% | 5.5% | -0.8% |
| 09052025 | AES | AES | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 10.2% | 10.2% | -3.2% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for California Water Service
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 60.78 |
| Mkt Cap | 158.8 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.2% |
| Rev Chg 3Y Avg | 3.2% |
| Rev Chg Q | 8.3% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 18.3% |
| Op Mgn 3Y Avg | 16.7% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 22.2% |
| CFO/Rev 3Y Avg | 23.8% |
| FCF/Rev LTM | 11.6% |
| FCF/Rev 3Y Avg | 12.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 158.8 |
| P/S | 3.5 |
| P/EBIT | 21.2 |
| P/E | 33.0 |
| P/CFO | 16.2 |
| Total Yield | 5.2% |
| Dividend Yield | 2.1% |
| FCF Yield 3Y Avg | 5.7% |
| D/E | 0.4 |
| Net D/E | 0.3 |
Price Behavior
| Market Price | $43.41 | |
| Market Cap ($ Bil) | 2.6 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -13.9% | |
| 50 Days | 200 Days | |
| DMA Price | $45.52 | $46.09 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -4.6% | -5.8% |
| 3M | 1YR | |
| Volatility | 26.0% | 23.6% |
| Downside Capture | -4.75 | -1.88 |
| Upside Capture | -24.99 | -3.85 |
| Correlation (SPY) | -8.2% | -1.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.42 | -0.18 | -0.09 | -0.05 | 0.01 | 0.26 |
| Up Beta | -0.05 | 0.28 | 0.45 | 0.35 | 0.12 | 0.31 |
| Down Beta | -0.89 | -0.01 | -0.07 | -0.25 | -0.05 | 0.07 |
| Up Capture | -31% | -32% | -25% | -9% | -5% | 5% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 9 | 23 | 33 | 62 | 123 | 363 |
| Down Capture | -53% | -43% | -25% | -8% | -1% | 67% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 10 | 18 | 29 | 62 | 124 | 381 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of CWT With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| CWT | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -3.1% | 15.2% | 17.8% | 72.1% | 8.6% | 4.4% | -8.2% |
| Annualized Volatility | 23.4% | 15.9% | 19.4% | 19.3% | 15.2% | 17.0% | 35.0% |
| Sharpe Ratio | -0.20 | 0.70 | 0.72 | 2.70 | 0.34 | 0.09 | -0.08 |
| Correlation With Other Assets | 33.6% | -1.7% | 9.3% | -12.5% | 38.5% | -12.7% | |
ETFs used for asset classes: Sector ETF = XLU, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of CWT With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| CWT | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -2.4% | 9.7% | 14.7% | 18.7% | 11.5% | 4.6% | 30.8% |
| Annualized Volatility | 23.8% | 17.2% | 17.1% | 15.5% | 18.7% | 18.9% | 48.6% |
| Sharpe Ratio | -0.12 | 0.43 | 0.70 | 0.97 | 0.50 | 0.16 | 0.57 |
| Correlation With Other Assets | 58.3% | 28.2% | 14.8% | -0.8% | 51.6% | 12.0% | |
ETFs used for asset classes: Sector ETF = XLU, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of CWT With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| CWT | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 8.5% | 10.5% | 14.8% | 15.3% | 7.0% | 5.3% | 69.2% |
| Annualized Volatility | 27.6% | 19.2% | 18.0% | 14.7% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.33 | 0.48 | 0.71 | 0.86 | 0.32 | 0.22 | 0.90 |
| Correlation With Other Assets | 62.3% | 39.1% | 11.1% | 6.4% | 53.1% | 9.2% | |
ETFs used for asset classes: Sector ETF = XLU, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/30/2025 | -4.8% | -1.3% | -4.1% |
| 7/31/2025 | 1.3% | 3.0% | 5.1% |
| 2/27/2025 | -2.2% | 1.5% | 1.2% |
| 10/31/2024 | 1.3% | 2.0% | 0.3% |
| 8/1/2024 | 0.8% | 0.4% | 3.6% |
| 2/29/2024 | -0.1% | -0.7% | 1.2% |
| 10/26/2023 | 5.0% | 7.0% | 10.9% |
| 7/27/2023 | -3.6% | -1.2% | -3.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 12 | 13 |
| # Negative | 8 | 6 | 5 |
| Median Positive | 1.8% | 3.5% | 3.6% |
| Median Negative | -2.4% | -1.3% | -4.1% |
| Max Positive | 5.0% | 12.5% | 15.8% |
| Max Negative | -5.2% | -5.0% | -7.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10302025 | 10-Q 9/30/2025 |
| 6302025 | 7312025 | 10-Q 6/30/2025 |
| 3312025 | 5012025 | 10-Q 3/31/2025 |
| 12312024 | 2272025 | 10-K 12/31/2024 |
| 9302024 | 10312024 | 10-Q 9/30/2024 |
| 6302024 | 8012024 | 10-Q 6/30/2024 |
| 3312024 | 4252024 | 10-Q 3/31/2024 |
| 12312023 | 2292024 | 10-K 12/31/2023 |
| 9302023 | 10262023 | 10-Q 9/30/2023 |
| 6302023 | 7272023 | 10-Q 6/30/2023 |
| 3312023 | 4282023 | 10-Q 3/31/2023 |
| 12312022 | 3012023 | 10-K 12/31/2022 |
| 9302022 | 10272022 | 10-Q 9/30/2022 |
| 6302022 | 7282022 | 10-Q 6/30/2022 |
| 3312022 | 4282022 | 10-Q 3/31/2022 |
| 12312021 | 2242022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.