Brown Flex Equity ETF (BAFE)
NASDAQ (NMS) NASDAQ (NMS) Primary Summary
BAFE Chart
BAFE: Is Brown Advisory's Brand New Flexible Equity ETF Worth Buying?
BAFE is Brown Advisory's debut actively managed fund that follows the firm's flexible strategy that's applied to approximately $170 billion in client assets. After waivers, BAFE's expense ratio is 0.54%. Historically, Brown's flexible equity strategy that emphasizes companies with competitive advantages and shareholder-friendly management teams has outperformed since 1984. However, recent returns are less impressive, with the strategy matching the returns of the S&P 500 Index net of fees over the last five and ten years.
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Brown Flex Equity ETF Profile
| NASDAQ (NMS) Exchange | US Country |
Overview
BAFE stands out as an active management fund concentrating on investments in US equity securities that span across a variety of capitalization levels. It seeks out companies that not only showcase strong or improving long-term characteristics but are also available at advantageous prices. The fund's strategy zeroes in on entities that possess competitive edges, are led by proficient management teams, and operate within positive industry contexts. A unique aspect of BAFE is its adaptable investment philosophy, which harmonizes growth and value investing approaches. The aim is to identify and invest in quality businesses that are priced below their inherent value, based on comprehensive assessments of their market positions, financial stability, and the efficacy of their management. Despite its tendency to lag during market downturns, the fund is known for its resilience, often recovering more swiftly than the market post-decline. This resilience is underpinned by a detailed, long-term investment strategy and a selective portfolio that averages between 30 to 50 issuers, maintained over one to five years, demonstrating the fund's commitment to judicious and far-sighted investment choices.
Products and Services
- Domestic and Foreign Common/Preferred Stock
BAFE invests in a diverse array of domestic and foreign stocks, both common and preferred, focusing on companies that show the potential for sustainable growth or are undervalued relative to their intrinsic value.
- Convertible Debt
The fund includes convertible debt in its investment strategies, selecting securities that offer potential equity upside while also providing income through interest payments, blending growth and income objectives.
- ADRs (American Depository Receipts)
By incorporating ADRs, BAFE gains exposure to foreign companies that are traded on U.S. exchanges, enabling investors to partake in the growth of international firms while mitigating some of the risks associated with direct foreign investments.
- REITs (Real Estate Investment Trusts)
Investing in REITs allows the fund to diversify its portfolio by including securities that are tied to the real estate market, providing potential for income through dividends along with capital appreciation.
- Other ETFs (Exchange-Traded Funds)
BAFE enhances its diversification strategy by investing in a selection of other ETFs, tapping into a broad array of sectors, industries, and asset classes, thereby optimizing its risk-return profile.
- BDCs (Business Development Companies)
The fund invests in BDCs to target companies that are expected to benefit from capital growth. This includes firms in the early stages of development or those requiring funding for expansion, aligning with BAFE's focus on long-term investment in promising ventures.
- Foreign Securities Including Emerging Markets
BAFE dedicates up to 15% of its portfolio to investments in foreign securities, including those from emerging markets, to exploit growth opportunities outside of the U.S. while accepting the accompanying risk exposure.
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