4 ETFs Switching To Active

Cambria is switching four of its ETFs from index-based to actively managed effective June 1. The funds include the following:

• Cambria Emerging Shareholder Yield ETF (EYLD)
• Cambria Foreign Shareholder Yield ETF (FYLD)
• Cambria Global Value ETF (GVAL)
• Cambria Shareholder Yield ETF (SYLD)

The funds range in size from $17 million in assets under management to $93 million. All four ETFs have a value tilt, with three focusing on shareholder yield, and most kept pace with comparable broadly focused cap-weighted ETFs until the market meltdown in March.

All four funds saw significantly steeper declines than comparable cap-weighted ETFs. If they had been active, the portfolio manager may have been able to take action to mitigate their falls.

Meb Faber, founder and chief investment officer of Cambria, has largely stayed out of the active/passive debate to focus on keeping fees low. However, with this change, all of the ETFs in Cambria’s lineup will be actively managed.

Cambria offers 11 ETFs with a combined total of $593 million in assets.

Contact Heather Bell at [email protected]