Key stats
About Cambria Tax Aware ETF
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Inception date
Dec 18, 2024
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Cambria Investment Management LP
Distributor
ALPS Distributors, Inc.
TAX used the IRS code 351 conversion to initially seed the ETF, allowing investors to diversify their exposure without experiencing a capital gain. TAX is an actively managed ETF investing in US stocks with a market capitalization over $5 billion. The fund targets value stocks with lower to no dividend distributions, aiming to enhance after-tax returns. Utilizing a quantitative model, Cambria evaluates stocks using traditional value metrics, such as price-to-sales, price-to-earnings, and enterprise multiples. The fund avoids high dividend stocks to optimize after-tax returns, benefiting investors in higher tax brackets. Eligible stocks must satisfy certain market capitalization, sector concentration, and liquidity criteria, starting with the largest 1,000 US equities. Cambria compiles a portfolio of 50 to 500 stocks showcasing the best blend of low dividend yield and value metrics, with holdings equal-weighted but adaptable to market changes. Stocks may be sold if deemed overvalued or if superior opportunities arise, with portfolio adjustments expected annually.
Classification
Returns
1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
---|---|---|---|---|---|---|
Price performance | — | — | — | — | — | — |
NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Technology Services
ETF
Stocks65.38%
Technology Services10.45%
Finance8.22%
Retail Trade7.03%
Producer Manufacturing6.96%
Industrial Services5.27%
Health Technology4.74%
Electronic Technology4.40%
Distribution Services2.99%
Consumer Services2.77%
Transportation2.55%
Commercial Services2.42%
Health Services1.56%
Non-Energy Minerals1.23%
Process Industries1.15%
Communications1.15%
Consumer Non-Durables1.10%
Energy Minerals1.03%
Consumer Durables0.27%
Utilities0.08%
Bonds, Cash & Other34.62%
ETF24.22%
Mutual fund9.11%
Corporate1.28%
Cash−0.00%
Stock breakdown by region
North America99.06%
Europe0.58%
Asia0.31%
Latin America0.06%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history