Tweedy Browne Insider + Value ETF aims to capture insider-driven alpha but falls short in applying proven academic criteria for insider signals. COPY's top holdings mostly lack high CEO ownership and managerial discretion, limiting the fund's potential for excess returns per academic research. The fund is rated a hold due to its unproven track record, reliance on a proprietary model, and a relatively high expense ratio of 0.80%.
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As a former mutual fund analyst, there are some asset management brands I remember. Tweedy, Browne is one of them.
On Friday, Tweedy, Browne began its foray into the ETF landscape with the launch of the Tweedy, Browne Insider + Value ETF (COPY). COPY seeks to offer capital growth with a long-term time horizon.