BRNY
Burney U.S. Factor Rotation ETF
BRNY is an actively managed fund that shifts US equity exposure between size and style perceived to be advantageous for the given market phase. Individual securities are selected based on a proprietary quantitative model, using a multi-factor approach.
Fund Basics
| Fund sponsor | Alpha Architect |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 13, 2022 |
| Assets (mns) | $174 |
| Expense ratio | 79 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| MICROSOFT CORP | 3.7 % |
| ALPHABET INC. CLASS A | 3.4 % |
| TOLL BROTHERS INC | 3.3 % |
| PARKER HANNIFIN CORP | 3.1 % |
| BROADCOM INC. | 3.1 % |
| META PLATFORMS INC | 3.1 % |
| MOLINA HEALTHCARE INC | 3.1 % |
| AMAZON.COM INC | 2.9 % |
| ARISTA NETWORKS, INC. | 2.8 % |
| JPMORGAN CHASE & CO | 2.6 % |
Constituent Breakdown
| Number of holdings | 90 |
| Herfindahl-Hirschman Index | 175 |
| Wgt avg mkt cap (mns) | $292,074 |
| Large cap (>$10bn) | 73.5% |
| Mid cap ($2-10bn) | 21.9% |
| Small cap (<$2bn) | 4.7% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 94.7 % |
 |
BRITAIN | 2.5 % |
 |
IRELAND | 2.4 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 11.5% | -- | -- | -- | -- | -- | 12.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.17% |
| ADV of underlying (mns) | $48,642 |
Technical Indicators
| Recent close | $28.64 |
| 30d moving avg. | $29.05 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 44 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. BRNY |
Expenses vs. BRNY |
ALTAR Score™ vs. BRNY |
|---|---|---|---|---|
| FVAL | Fidelity Value Factor ETF | 26.0% | -50 bp | +1.9% |
| FDMO | Fidelity Momentum Factor ETF | 25.0% | -50 bp | -2.3% |
| GSPY | Gotham Enhanced 500 ETF | 25.0% | -29 bp | -0.3% |
| EPS | WisdomTree U.S. Earnings 500 Fund | 24.3% | -71 bp | +0.8% |
| RFFC | RiverFront Dynamic US Flex-Cap ETF | 23.4% | -31 bp | -0.8% |
| QLC | FlexShares US Quality Large Cap Index Fund | 23.4% | -54 bp | +0.3% |
| GSLC | Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF | 22.9% | -70 bp | +0.2% |
| RESP | WisdomTree US ESG Fund of Benef Interest | 22.8% | -51 bp | +0.4% |
| SPXV | ProShares S&P 500 Ex-Health Care ETF | 22.8% | -70 bp | -0.8% |
| RECS | Columbia Research Enhanced Core ETF | 22.7% | -64 bp | +0.2% |
Risk and Returns: BRNY vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/28/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
BRNY
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
BRNY
6.3%
Cat. Avg
6.4%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.3% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 898 funds in the US Equities category, with an average ALTAR Score™
of 6.4% and a standard deviation of
3.1%. BRNY's ALTAR Score™ is approximately
0.0 standard deviations
below
the category average. This places BRNY in the 49th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
BRNY
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BRNY | 79.0 | 16.7 | 95.7 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .