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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
ETF
Stocks75.06%
Technology Services9.05%
Producer Manufacturing8.21%
Finance7.92%
Retail Trade7.05%
Industrial Services6.45%
Consumer Services5.90%
Electronic Technology5.53%
Health Technology4.98%
Distribution Services4.85%
Transportation2.76%
Commercial Services2.46%
Health Services1.85%
Consumer Durables1.36%
Non-Energy Minerals1.23%
Communications1.22%
Utilities1.21%
Energy Minerals1.06%
Consumer Non-Durables1.03%
Process Industries0.93%
Bonds, Cash & Other24.94%
ETF24.13%
Mutual fund0.81%
Cash−0.01%
Stock breakdown by region
North America97.87%
Europe1.89%
Asia0.22%
Latin America0.02%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
TAX invests in stocks. The fund's major sectors are Technology Services, with 9.05% stocks, and Producer Manufacturing, with 8.21% of the basket. The assets are mostly located in the North America region.
TAX top holdings are Vanguard Total Stock Market ETF and iShares Core S&P 500 ETF, occupying 12.58% and 2.79% of the portfolio correspondingly.
TAX assets under management is 27.12 M USD. It's risen 7.54% over the last month.
TAX fund flows account for 848.28 K USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, TAX pays dividends to its holders with the dividend yield of 0.23%. The last dividend (Dec 31, 2024) amounted to 0.06 USD. The dividends are paid annually.
TAX shares are issued by Cambria Investment Management LP under the brand Cambria. The ETF was launched on Dec 18, 2024, and its management style is Active.
TAX expense ratio is 0.49% meaning you'd have to pay 0.49% of your investment to help manage the fund.
TAX follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
TAX invests in stocks.
TAX price has risen by 9.18% over the last month, and its yearly performance shows a −2.90% decrease. See more dynamics on TAX price chart.
NAV returns, another gauge of an ETF dynamics, showed a −1.12% decrease in three-month performance and has decreased by −0.19% in a year.
NAV returns, another gauge of an ETF dynamics, showed a −1.12% decrease in three-month performance and has decreased by −0.19% in a year.
TAX trades at a premium (0.03%) meaning the ETF is trading at a higher price than the calculated NAV.