BAFE: Is Brown Advisory's Brand New Flexible Equity ETF Worth Buying?
Source: SeekingAlpha
2025-03-14 05:22:07 ET
Summary
- 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.
- My analysis reveals that despite BAFE's composition differences with SPY, their fundamentals are remarkably similar. Quality is strong, but investors aren't getting any deals on growth or value.
- As a result, BAFE is a solid choice for those wanting something unique, but ultimately, it's tough to get too excited about, and I'd rather own a low-cost S&P 500 Index fund instead. Therefore, BAFE is a "hold."
Investment Thesis
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BAFE: Is Brown Advisory's Brand New Flexible Equity ETF Worth Buying?
Brown Advisory Flexible Equity ETF
NASDAQ: BAFE
BAFE Trading
-0.95% G/L:
$26.109 Last:
101,310 Volume:
$26.135 Open:
