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Tortoise Global Water Fund (TBLU)

The Tortoise Global Water Fund uses a passive management approach and seeks to track the net total return performance of the Tortoise Global Water Index℠.

How to Invest
$52.73
$52.85

Overall Morningstar Rating

Tortoise Global Water Fund received a Four-Star Overall Morningstar Rating™ among 113 Natural Resources Funds based on three-year and five-year risk-adjusted performance ending 9/30/2025.

Fact Sheet Summary Prospectus

As of July 14, 2025, TBLU, formally known as Tortoise Global Water ESG Fund, has been renamed Tortoise Global Water Fund. In addition, the fund’s advisor has changed from Tortoise Index Solutions, LLC to Tortoise Capital Advisors, L.L.C., aligning the fund with Tortoise Capital’s broader investment platform.

Overview

The Tortoise Global Water Fund uses a passive management approach and seeks investment results that correspond generally to the price and distribution rate performance of the Tortoise Global Water Index℠, which is comprised of companies across the globe and throughout the water cycle that we believe are positioned to benefit from the pursuit of solving the water supply/demand imbalance.

Tortoise Global Water Index – a differentiated strategy

Purity – minimum 50% water exposure

  • Companies must (i) derive at least 50% of their revenues from water industry related activities, or (ii) derive at least 40% of their revenues from the water industry, be ranked in the top five companies by total revenue derived from any one water sub-industry, and whose principal source of revenue comes from the water industry
  • Water infrastructure, principal business is providing public water distribution or supporting/enhancing water distribution infrastructure
  • Water equipment/services, principal business is producing water equipment such as pipes, pumps, valves and water efficiency products, or water services, such as filtration, treatment and testing of water

Investability – liquidity

  • Minimum liquidity turnover of 0.15 for two consecutive quarters to enter the index
  • Market capitalization of $400 million for two consecutive quarters at time of index inclusion
  • Including a liquidity threshold that is proportional to market cap results in an index that represents a universe that is actually potentially investible

Fund Details As of 01/12/26

Market Price $52.85
Premium/Discount
(View Full Chart)		 0.24%
NAV Change -$0.03
Listing Exchange NYSE
Inception Date 02/14/2017
Total Market Value $55,492,500
Management Fee 0.40%
NAV $52.73
Median 30-Day Bid/Ask Spread 0.15%
Ticker TBLU
CUSIP 890930407
Market Price Change Dollars -$0.09
Shares Outstanding 1,050,000
Total Expenses 0.40%

Performance

Total Return

Time Period:

Performance
Ticker Class/Name 1 Month Calendar YTD 1 Year 3 Year 5 Year 10 Year Since Inception
TBLU Market Price -2.13% 11.81% 11.81% 13.66% 6.97% — 10.22%
TBLU NAV -1.81% 11.48% 11.48% 13.51% 7.29% — 10.26%
Underlying index -1.90% 11.60% 11.60% 13.77% 7.49% — 10.57%
S&P 500 Total Return Index 0.06% 17.88% 17.88% 23.01% 14.42% — 14.78%

Past performance is no guarantee of future results. Like any other stock, total return and market value will fluctuate so that an investment, when sold, may be worth more or less than its original cost. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized. NAV prices are used to calculate market price performance prior to the date when the fund first traded. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times.

As stated in the Prospectus, the total annual operating expenses are 0.40%.

For periods over one year, performance reflected is for the average annual returns.

Daily Fund Holdings

60 total, 01/12/26

Show All Holdings
Portfolio Holdings
Security Name Stock Ticker CUSIP Shares Market Value Weight
Ecolab Inc ECL 278865100 15,513.000000 $4,204,023.00 7.59%
Ferguson Enterprises Inc FERG LN BS3BQJ6 17,377.000000 $4,194,980.75 7.58%
Xylem Inc/NY XYL 98419M100 28,821.000000 $4,008,424.68 7.24%
Veolia Environnement SA VIE FP 4031879 63,345.000000 $2,241,130.39 4.05%
Geberit AG GEBN SW B1WGG93 2,796.000000 $2,233,996.11 4.04%
Veralto Corp VLTO 92338C103 21,773.000000 $2,218,668.70 4.01%
American Water Works Co Inc AWK 030420103 16,535.000000 $2,154,510.50 3.89%
Stantec Inc STN CN 2854238 21,269.000000 $2,103,835.66 3.80%
Pentair PLC PNR G7S00T104 20,222.000000 $2,084,483.76 3.77%
UNITED UTILITIES GROUP PLC UU/ LN B39J2M4 127,299.000000 $2,083,314.50 3.76%
Belimo Holding AG BEAN SW BP0QDP8 1,837.000000 $1,923,927.92 3.48%
Severn Trent PLC SVT LN B1FH8J7 49,320.000000 $1,873,272.83 3.38%
IDEX Corp IEX 45167R104 9,698.000000 $1,807,028.34 3.26%
Advanced Drainage Systems Inc WMS 00790R104 9,270.000000 $1,453,350.60 2.63%
CIA SANEAMENTO BASICO SPONSORED ADR SBS 20441A102 61,095.134392 $1,438,179.46 2.60%
Essential Utilities Inc WTRG 29670G102 36,665.000000 $1,435,434.75 2.59%
Core & Main Inc CNM 21874C102 24,707.000000 $1,395,945.50 2.52%
Tetra Tech Inc TTEK 88162G103 33,872.000000 $1,214,311.20 2.19%
A O Smith Corp AOS 831865209 14,689.000000 $1,043,065.89 1.88%
Watts Water Technologies Inc WTS 942749102 3,551.000000 $1,021,764.74 1.85%
Georg Fischer AG GF SW BM8J5G3 14,376.000000 $950,591.04 1.72%
Fortune Brands Innovations Inc FBIN 34964C106 15,566.000000 $923,063.80 1.67%
Zurn Elkay Water Solutions Corp ZWS 98983L108 19,298.000000 $890,602.70 1.61%
Kurita Water Industries Ltd 6370 JP 6497963 20,000.000000 $867,536.90 1.57%
Badger Meter Inc BMI 056525108 3,818.000000 $655,283.34 1.18%
Lixil Corp 5938 JP 6900212 53,700.000000 $646,321.31 1.17%
Pennon Group PLC PNN LN BNNTLN4 88,007.000000 $632,159.29 1.14%
Primo Brands Corp PRMB 741623102 32,625.000000 $591,817.50 1.07%
Rinnai Corp 5947 JP 6740582 20,900.000000 $536,388.63 0.97%
Mueller Water Products Inc MWA 624758108 20,256.000000 $511,869.12 0.92%
Franklin Electric Co Inc FELE 353514102 4,960.000000 $495,454.40 0.89%
Guangdong Investment Ltd 270 HK 6913168 512,000.000000 $458,380.04 0.83%
Otter Tail Corp OTTR 689648103 5,430.000000 $461,007.00 0.83%
Miura Co Ltd 6005 JP 6597777 21,000.000000 $421,208.00 0.76%
Organo Corp 6368 JP 6470522 4,800.000000 $423,123.36 0.76%
Hayward Holdings Inc HAYW 421298100 25,851.000000 $422,663.85 0.76%
American States Water Co AWR 029899101 5,016.000000 $372,789.12 0.67%
California Water Service Group CWT 130788102 7,721.000000 $344,202.18 0.62%
Beijing Enterprises Water Group Ltd 371 HK B01YCG0 782,000.000000 $252,759.57 0.46%
H2O America HTO 784305104 4,314.000000 $223,508.34 0.40%
Genuit Group PLC GEN LN BKRC5K3 46,461.000000 $205,806.62 0.37%
Kitz Corp 6498 JP 6494276 15,100.000000 $175,440.44 0.32%
Cash & Other Cash&Other Cash&Other 178,230.220000 $178,230.22 0.32%
Lindsay Corp LNN 535555106 1,400.000000 $172,690.00 0.31%
Select Water Solutions Inc WTTR 81617J301 12,777.000000 $144,124.56 0.26%
Gorman-Rupp Co/The GRC 383082104 2,693.000000 $138,016.25 0.25%
Tsukishima Holdings Co Ltd 6332 JP 6906823 7,000.000000 $131,198.84 0.24%
Middlesex Water Co MSEX 596680108 2,376.000000 $125,452.80 0.23%
Nomura Micro Science Co Ltd 6254 JP B248ZF3 6,200.000000 $118,556.21 0.21%
Montrose Environmental Group Inc MEG 615111101 4,258.000000 $110,324.78 0.20%
China Lesso Group Holdings Ltd 2128 HK BCDBKF8 165,000.000000 $97,351.38 0.18%
METAWATER Co Ltd 9551 JP BSTJDT3 4,800.000000 $101,494.99 0.18%
Energy Recovery Inc ERII 29270J100 6,863.000000 $98,003.64 0.18%
NWPX Infrastructure Inc NWPX 667746101 1,245.000000 $84,435.90 0.15%
Consolidated Water Co Ltd CWCO G23773107 1,940.000000 $70,984.60 0.13%
Oyo Corp 9755 JP 6665061 3,600.000000 $67,064.07 0.12%
York Water Co/The YORW 987184108 1,870.000000 $61,336.00 0.11%
First American Government Obligations Fund 12/01/2031 FGXXX 31846V336 33,023.380000 $33,023.38 0.06%
BRITISH POUNDS GBP CASHGBP 24,857.280000 $33,467.90 0.06%
CT Environmental Group Ltd 1363 HK BYMMR11 118,443.000000 $0.00 0.00%

Fund holdings are subject to change and are not recommendations to buy or sell any security.

Portfolio

By Sector

As of 12/31/2025

Due to rounding, totals may not equal 100%.

By Geographic Exposure

As of 12/31/2025

Due to rounding, totals may not equal 100%.

Distributions

TBLU Distribution History

Ticker Ex-Date Record Date Payment Date Amount
TBLU 12/31/2025 12/31/2025 1/2/2026 $1.2744
TBLU 6/26/2025 6/26/2025 6/27/2025 $0.4048
2025 Total $1.6792
TBLU 12/31/2024 12/31/2024 1/2/2025 $0.3232
TBLU 6/27/2024 6/27/2024 6/28/2024 $0.3043
2024 Total $0.6275
EBLU 12/28/2023 12/29/2023 1/2/2024 $0.2645
EBLU 6/21/2023 6/22/2023 6/23/2023 $0.3744
2023 Total $0.6389
EBLU 12/29/2022 12/30/2022 1/3/2023 $0.3659
EBLU 6/22/2022 6/23/2022 6/24/2022 $0.2384
2022 Total $0.6043
EBLU 12/30/2021 12/31/2021 1/4/2022 $0.5181
EBLU 6/23/2021 6/24/2021 6/25/2021 $0.2666
2021 Total $0.7847
EBLU 12/30/2020 12/31/2020 1/4/2021 $0.2242
EBLU 6/24/2020 6/25/2020 6/26/2020 $0.3412
2020 Total $0.5654
EBLU 12/30/2019 12/31/2019 1/2/2020 $0.1187
EBLU 6/26/2019 6/27/2019 6/28/2019 $0.3943
EBLU 3/20/2019 3/21/2019 3/22/2019 $0.0392
2019 Total $0.5522
EBLU 12/28/2018 12/31/2018 1/2/2019 $0.0949
EBLU 9/26/2018 9/27/2018 9/28/2018 $0.1019
EBLU 6/20/2018 6/21/2018 6/22/2018 $0.0950
EBLU 3/21/2018 3/22/2018 3/23/2018 $0.0543
2018 Total $0.3461
EBLU 12/28/2017 12/29/2017 1/2/2018 $0.2438
EBLU 9/20/2017 9/21/2017 9/22/2017 $0.0500
EBLU 6/20/2017 6/22/2017 6/23/2017 $0.1000
2017 Total $0.3938

Literature

Tortoise Global Water Fund TBLU

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Tax Information

Find information and other tax-related resources for Tortoise Capital exchange-traded funds. Tax forms, publications and instructions are available for download from the IRS website.

Annual 1099-DIV