Cambria Global Real Estate ETF (BLDG)
The new fund implements a factor-based quantitative investment approach
Cambria Investment Management is behind the September launch of a smart beta take on global real estate securities. The actively managed Cambria Global Real Estate ETF (BLDG) relies on a quantitative methodology that takes into account metrics related to the value, quality and momentum factors.
BLDG comes with an expense ratio of 0.59%.
Companies must be classified as real estate investment trusts or fall into the real estate sector designation of the Standard & Poor’s Global Industry Classification Standard, according to the prospectus.
From there, an algorithm identifies companies that are attractive based on metrics related to the three targeted factors, and implements a momentum style of investment. It selects the 50 most attractive U.S. companies and the 50 most attractive companies outside the U.S., weighting all 100 stocks equally, the document says.
As of mid-October, BLDG included Macquarie Mexico Real Estate Management (1.44%), Retail Value (1.41%) and Corporate Office Properties (1.40%) among its top holdings.
“We view real estate as a core piece of the investment opportunity set, and BLDG offers investors global active exposure to real estate through a thoughtful, multifactor approach focused on value, quality and momentum,” said Meb Faber, Cambria’s co-founder and chief investment officer.
Source: ETF.com. Data and information as of 9/30/2020.
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