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ETF sheet · Issuer-declared data

L&G Russell 2000 US Small Cap Quality UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE00B3CNHJ55Ticker: RTWOIssuer: LGIMClass: USD Acc.

Issuer-declared data

Declared index

Russell 2000® Index Net TR USD

TER

0.30%

Transaction costs

0.07% (issuer estimate, from the KID)

Management

Passive (index-tracking) (from the KID)

Replication

Physical (sampled)

Income policy

Accumulating

SFDR

Article 6 — does not promote specific ESG characteristics — inferred (issuer documents do not declare art. 8/9) what does it mean?

Fund assets

189.4 mln EUR

Domicile

Ireland

Inception date

25 September 2008

Data as declared by LGIM in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.

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Description

L&G Russell 2000 US Small Cap Quality UCITS ETF tracks the issuer-declared index: Russell 2000® Index Net TR USD. The declared annual cost (TER) is 0.30%, plus 0.07% in transaction costs estimated by the issuer in the KID. Replication is sampled physical replication (the KID declares buying a representative sample of constituents); income is accumulated and reinvested in the fund. The fund has assets of about 189 million euro, was launched on 25 September 2008 and is domiciled in Ireland.

The fund’s objective — in the issuer’s words

The investment objective of the Fund is to provide exposure to U.S. small cap companies that are weighted according to their size and quality characteristics. The Fund is passively managed and aims to track the performance of the Russell 2000 0.4 Quality Target Exposure Factor Net Tax Index (the “Index”), before the deduction of fees and expenses. The Index is designed to provide exposure to small capitalisation companies in the United States, with an emphasis on quality characteristics, in accordance with its methodology.
Keep reading the KID section ▾
The Fund seeks to achieve its investment objective using an optimisation/representative sampling approach and invests in a representative selection of equity securities which, taken together, are expected to have risk and performance characteristics similar to those of the Index. The Fund may also invest in equity related securities and instruments that are not constituents of the Index but have similar risk and performance characteristics, and may use ﬁnancial derivative instruments for eﬃcient portfolio management or to assist in tracking the performance of the Index. This Share Class does not intend to pay dividends. Any income which may result from the Fund's investments will be re-invested into the Fund. Shares in this Share Class (the "Shares") are denominated in USD and can be bought and sold on stock exchanges by ordinary investors using an intermediary (e.g. a stockbroker). In normal circumstances, only Authorised Participants may buy and sell Shares directly with the Company. Authorised Participants may redeem their Shares on demand in accordance with the "Dealing Timetable" published on http://www.lgim.com.
The depositary of the Fund is the Bank of New York Mellon SA/NV, Dublin Branch. Further information about the Fund and the share class can be obtained from the Company's prospectus and the annual and semi-annual reports, which are available, in addition to the latest prices for the share class and details of any other share classes, free of charge at: www.lgim.com.
Intended Retail Investor:The Fund is designed for investors looking to grow their money in an investment which can form part of their existing savings portfolio. Although investors can take their money out at any time, the Fund may not be appropriate for those who plan to withdraw their money within ﬁve years. The Fund is not designed for investors who cannot aﬀord more than a minimal loss of their investment.

From the KID’s “Objectives” section · 5 August 2026 · original document ↓

Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

TER 0.30%: above the median of equity ETFs we track (0.22%).
Average tracking difference over the last 3 years: -0.10% p.a., against a declared TER of 0.30%.

Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed version ProspectusPDF in English, from the issuer’s site — the fund’s full legal document FactsheetPDF in Italian, from the issuer’s site — the fund’s monthly snapshot

The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from Sept 2008 to Sept 2026

Adjusted for inflationCompare with the index

Compare with another ETF

Only funds we hold a history for. Three at a time, at most.

Return

+416.4%

Annualised

+9.6%

Volatility (ann.)

24.9%

Max drawdown

-54.42%

Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.

Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.

Max drawdown

-54.42%

peak → trough

Trough

09 Mar 2009

from the 19 Sept 2008 peak

Recovery time

632 days

recovery only: trough to break-even · ≈ 1 year and 9 months

Underwater

803 days

decline + recovery: peak to break-even · ≈ 2 years and 2 months · → recovered on 01 Dec 2010

The five worst falls in the period

From the peak of	Trough	Depth	Back to break-even	Days underwater
19 Sept 2008	09 Mar 2009	-54.42%	01 Dec 2010	803
31 Aug 2018	18 Mar 2020	-42.30%	11 Nov 2020	803
08 Nov 2021	16 Jun 2022	-29.90%	16 Jul 2024	981
29 Apr 2011	03 Oct 2011	-29.25%	13 Sept 2012	503
25 Nov 2024	08 Apr 2025	-26.39%	18 Sept 2025	297

Calendar-year returns

2016

20.8%

2017

14.1%

2018

-11.6%

2019

24.7%

2020

19.4%

2021

19.5%

2022

-18.6%

2023

18.0%

2024

10.2%

2025

11.1%

2026

19.9%

Month-by-month returns

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sept	Oct	Nov	Dec	Year
2026	5.2	1.3	-4.9	11.3	3.1	4.4	-1.8	0.6	-0.1				19.9
2025	3.2	-5.2	-5.6	-2.4	5.9	4.0	1.1	6.6	2.3	0.5	1.6	-0.5	11.1
2024	-3.4	4.8	3.4	-6.6	4.8	-1.0	9.5	-1.3	1.0	-1.8	10.9	-8.7	10.2
2023	9.2	-1.5	-3.7	-1.6	-1.4	8.5	5.3	-4.1	-5.1	-6.3	8.7	10.8	18.0
2022	-9.4	0.3	1.1	-9.3	0.8	-7.7	10.6	-3.0	-9.3	11.7	3.5	-6.7	-18.6
2021	5.0	6.4	1.2	2.6	0.4	1.6	-2.5	2.2	-2.7	4.7	-3.4	3.0	19.5
2020	-3.2	-8.4	-21.8	13.7	6.5	3.5	2.7	5.6	-3.4	3.6	18.9	6.5	19.4
2019	11.2	5.1	-2.2	3.4	-7.8	7.0	0.5	-5.0	2.0	2.6	4.1	2.8	24.7
2018	2.6	-3.9	1.2	0.8	6.0	0.6	1.7	4.2	-2.5	-10.9	1.5	-11.9	-11.6
2017	0.4	1.9	0.1	1.1	-2.1	3.4	0.7	-1.3	6.2	0.8	2.8	-0.5	14.1
2016	-8.8	-0.0	7.9	1.5	2.2	-0.1	5.9	1.7	1.1	-4.8	11.1	2.8	20.8
2015	-3.2	5.9	1.7	-2.6	2.2	0.7	-1.2	-6.3	-5.0	5.6	3.2	-5.0	-4.7
2014	-2.8	4.7	-0.7	-3.9	0.8	5.3	-6.1	4.9	-6.1	6.6	0.0	2.8	4.5
2013	6.2	1.1	4.6	-0.4	4.0	-0.5	7.0	-3.2	6.3	2.5	4.0	1.9	38.3
2012	7.0	2.4	2.5	-1.6	-6.7	5.0	-1.4	3.3	3.2	-2.2	0.5	3.5	15.8
2011	-0.3	5.5	2.5	2.6	-1.9	-2.3	-3.6	-8.7	-11.3	15.1	-0.4	0.6	-4.5
2010	-3.7	4.5	8.1	5.6	-7.6	-7.8	6.9	-7.4	12.4	4.1	3.5	7.9	26.4
2009	-11.1	-12.2	8.8	15.4	3.0	1.4	9.6	4.2	4.3	-6.8	3.1	8.0	26.6
2008										-21.1	-12.0	5.7	-30.7

From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.

Source: LGIM. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — fund vs index

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 1 of the last 9 calendar years: a past observation, not an indication of future outperformance.

Average TD (last 3 years)

-0.10% /anno

Declared TER

0.30%

Year	Fund	Index	Difference
2025	+11.06%	+11.11%	-0.05%
2024	+10.19%	+10.38%	-0.20%
2023	+18.05%	+18.09%	-0.04%
2022	-18.58%	-18.60%	+0.01%
2021	+19.56%	+19.93%	-0.37%
2020	+19.37%	+19.50%	-0.13%
2019	+24.75%	+25.00%	-0.25%
2018	-11.63%	-11.35%	-0.28%
2017	+14.10%	+14.21%	-0.11%

Total-return figures from issuer-declared series (primary source); complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

Risk indicators· EUR

	Last year	Last 3 years	Last 5 years	Last 10 years	Full history
Volatility (ann.)	17.23%	20.62%	21.82%	23.31%	25.15%
Max drawdown	-7.78%	-29.45%	-29.45%	-42.26%	-48.36%
Sharpe	1.20	0.58	0.34	0.48	0.48
Sortino	1.86	0.85	0.49	0.67	0.68

Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.21%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Portfolio holdings

Top-10 weight

5.2%

Top 10 holdings

Moelis & Company

0.70%

Brinker International

0.70%

Dave Inc

0.60%

Krystal Biotech

0.60%

Alkermes

0.50%

CareTrust REIT

0.50%

Brightspring Health Services

0.40%

InterDigital

0.40%

Silicon Labs

0.40%

Terreno Realty

0.40%

Sectors

Finanziari

20.7%

Assistenza sanitaria

19.1%

Industriali

14.0%

Informatica

12.8%

Beni di consumo voluttuari

9.8%

Energia

6.6%

Immobiliare

6.0%

Countries

up to 1%1–5%5–15%15–30%over 30%

Hover a country for its percentage.

Top 7 countries

United States100%

Top 10 holdings and breakdowns as declared by LGIM in the fund factsheet, data as of 30 June 2026. Percentages may not sum to 100 due to cash, derivatives and rounding.

Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

IE00B3CNHJ55

Directazero within the savings plan (buys)
Directazero on single buys from 2,000 €, agreement until 31 December 2026
Moneyfarmzero within the savings plan (buys), agreement until 29 June 2029
Moneyfarmzero on single buys from 1,000 €, agreement until 29 June 2029
XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans

Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

Exchange	Ticker	Trading since
Borsa Italiana (ETFplus)	RTWO	29 Jan 2009
Börse Düsseldorf	ETLZ	7 Sept 2017
Börse Frankfurt	ETLZ	20 Apr 2020
Börse Hamburg	ETLZ	13 Sept 2022
Börse Hannover	ETLZ	9 Dec 2024
Börse München / gettex	ETLZ	20 Apr 2020
Börse Stuttgart	ETLZ	20 Apr 2020
Euronext Amsterdam	RTWO	19 Sept 2008
Tradegate Exchange	ETLZ	8 Apr 2020
Xetra (Deutsche Börse)	ETLZ	20 Apr 2020

+ 14 more trading venues (MTFs and professional platforms).

Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does L&G Russell 2000 US Small Cap Quality UCITS ETF track?

The issuer LGIM declares the benchmark: Russell 2000® Index Net TR USD.

How much does RTWO cost?

The issuer-declared TER is 0.30% per year; the transaction costs estimated in the KID are 0.07%.

What is the fund size of RTWO?

The fund size declared by LGIM is about 189 million euro.

When was RTWO launched?

The fund was launched on 25 September 2008: it has 17 years of history.

How does RTWO replicate its index?

It is a passively managed ETF: it follows the declared index. Physical (sampled) (issuer wording: “Fisica - campionamento (dal KID)”).

Does RTWO pay dividends?

No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).

Where does RTWO trade?

Per the official ESMA register it trades on 10 main exchanges, including Borsa Italiana (ETFplus) (RTWO), Börse Düsseldorf (ETLZ), Börse Frankfurt (ETLZ), Börse Hamburg (ETLZ), Börse Hannover (ETLZ), Börse München / gettex (ETLZ).

What was RTWO's worst fall?

Over the available history (since 2008), the maximum drawdown was -54.42%, reached in March 2009. Past performance is not indicative of future results.

What is RTWO's tracking difference?

Over the last 3 complete calendar years the fund returned on average -0.10% per year versus its index (from issuer-declared series).

Transparency note

The data in this sheet is declared by LGIM in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.