HWAY vs TPLC
Themes US Infrastructure ETF vs Timothy Plan US Large/Mid Cap Core ETF
Which is better, HWAY or TPLC?
HWAY has been ahead.
HWAY has a lower expense ratio. HWAY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93. TPLC is less concentrated, with 7.0% of the fund in its ten largest positions against 42.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HWAY | TPLC |
|---|---|---|
| Expense Ratio | 0.29%Best | 0.52% |
| AUM | $4M | $311M |
| Dividend Yield | 1.05% | 0.86% |
| Holdings | 197 | 542 |
| Volatility (annualized) | 21.0% | 12.6%Best |
| Max Drawdown | -25.8% | -18.2%Best |
| $10,000 over 1.9 years | $15,378Best | $12,287 |
| Top 10 Weight | 42.8% | 7.0%Best |
| Fund Family | Themes ETFs | Timothy Plan |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Mid Cap Blend |
| Inception | Sep 11, 2024 | May 5, 2019 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 78 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. HWAY has data through Jul 28, 2026 and TPLC through Oct 14, 2026.
Volatility and max drawdown, and the $10,000 over 1.9 years row, are measured over the window both funds cover: Sep 12, 2024 to Jul 28, 2026 (1.9 years).
Risk: Volatility and Drawdowns
HWAY has been the more volatile fund, with annualized monthly volatility of 21.0% compared with 12.6% for TPLC. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -25.8% for HWAY and -18.2% for TPLC. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
HWAY charges 0.29% per year while TPLC charges 0.52%. On a $10,000 position that is $29 vs $52 annually, a gap of $23 per year that compounds over a long holding period. On income, HWAY currently yields 1.05% against 0.86% for TPLC.
Holdings Overlap
61.6% of HWAY's money is in holdings TPLC also owns. 9.6% of TPLC's money is in holdings HWAY also owns.
The two portfolios partly overlap.
The two holdings books were reported 67 days apart, HWAY as of Jul 27, 2026 and TPLC as of Oct 2, 2026, so some of the difference between them is the time between the two reports rather than the funds.
24 positions in common, counted across the 99 positions we hold weights for in HWAY and 268 in TPLC, against full books of 197 and 542.
What only one of them owns
Our book lists 237 positions for TPLC that do not appear in our book for HWAY (87.7% of the fund), and 73 for HWAY that do not appear in TPLC (33.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in HWAY | Weight in TPLC | Difference |
|---|---|---|---|
| UNPUnion Pacific Corp | 4.98% | 0.61% | 4.37% |
| CSXCsx Corp. | 4.94% | 0.55% | 4.39% |
| CATCaterpillar, Inc. | 4.63% | 0.35% | 4.28% |
| PWRQuanta | 4.46% | 0.37% | 4.09% |
| PHParker-Hannifin Corp. | 4.20% | 0.45% | 3.75% |
| DEDeere & Co Sedol 2261203 | 4.21% | 0.42% | 3.79% |
| URIUnited Rentals Inc. | 3.62% | 0.41% | 3.21% |
| GWWWw Grainger Inc. | 3.07% | 0.46% | 2.61% |
| NUENucor Corp. | 2.93% | 0.50% | 2.43% |
| FIXComfort Systems USA Inc. | 3.07% | 0.21% | 2.86% |
61.6% of HWAY is already inside TPLC.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HWAY or TPLC?
HWAY has an expense ratio of 0.29% while TPLC charges 0.52%. HWAY is the cheaper option, by $23 a year on a $10,000 investment.
Which is riskier, HWAY or TPLC?
HWAY has been the more volatile fund at 21.0% annualized versus 12.6% for TPLC. Worst drawdown: HWAY -25.8% vs TPLC -18.2%.
Should I hold both HWAY and TPLC?
HWAY and TPLC have a monthly-return correlation of 0.93, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between HWAY and TPLC?
61.6% of HWAY's money is in holdings TPLC also owns. 9.6% of TPLC's is in holdings HWAY also owns. They hold 24 positions in common, counted across the 99 positions we hold weights for in HWAY and 268 in TPLC.
Which pays a higher dividend, HWAY or TPLC?
HWAY yields 1.05% while TPLC yields 0.86%, so HWAY currently pays the higher dividend yield.
Is TPLC better than HWAY?
HWAY has a lower expense ratio. HWAY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93. TPLC is less concentrated, with 7.0% of the fund in its ten largest positions against 42.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.