Skip to content
etf.net

Launched

Brown Advisory Flexible Equity ETF

BAFENasdaqBrown AdvisoryB

$30.02−0.15 (−0.51%)

As of Nov 10, 2026, 11:25 AM ET

B64/ 100

Rank 38 of 125 in US Active Equity

B64/100Rank 38 of 125inUS Active Equity
Intraday session: down, 24 prints from 30.18 to 30.02. Range 29.97 to 30.14. Use the arrow keys to read each point.30.0030.0530.1030.1510 AM12 PM2 PM4 PM
Expense ratio
0.54%*
Fund size
$1.72B
1Y total return
+14.4%
Yield · Last 12 months
0.27%
Holdings
44
Avg volume · 30D
49.6K sh
52W range
low $24.47high $30.76
Launched

*After a fee waiver that ends Jan 31, 2027. Without it: 0.57%.

The ETF.net BAFE Grade

B

Score 64 out of 100

Category
US Active Equity⁠
Rank
38 of 125
Six-pillar profile for BAFE. Scores out of 100: Cost 63, Risk 55, Mission 75, Tradability 79, Holdings 56, Durability 72. Strongest: Tradability (79). Weakest: Risk (55). Leans toward Tradability and Mission.

Score 64 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B63 out of 100
    Rank 47 of 125

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A75 out of 100
    Rank 24 of 49

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B55 out of 100
    Rank 56 of 125

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A79 out of 100
    Rank 20 of 125

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B56 out of 100
    Rank 63 of 123

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A72 out of 100
    Rank 31 of 125

Our read on BAFE

ETF.net Research

In short

BBrown Advisory's first ETF packages a decades-old bargain-hunting philosophy: buy good businesses when the market misprices them, whether screens call them value or growth. Roughly 40 names, 0.54% net of a waiver through January 31, 2027.

Stated mandate

The Fund seeks long-term growth of capital.

Why people hold it

  • The flexible part is literal: it hunts bargains across large, mid and small caps and ignores the value/growth label, so a cheap good business qualifies either way.brownadvisory.combrownadvisory.com 2
  • 0.54% net of a waiver through January 31, 2027 (0.57% gross) lands below the US active equity median, which is lean for a hands-on stock picker.
  • Roughly 40 holdings, so each name actually moves the fund. That is the point of hiring a stock picker instead of buying the whole market.
  • It did not start from scratch: Brown Advisory seeded its November 2024 debut by converting taxable managed accounts, and it is a multi-billion-dollar fund.seic.com

Worth knowing

  • Systematic rivals cost a fraction: DFAU runs 0.12%, AVLC 0.15%. Here the money buys human judgment, not a cheaper wrapper.
  • Shares change hands lightly for a fund this size, so bid-ask spreads can run wider than on headline ETFs.
  • The philosophy predates the fund by decades, but the ETF itself opened in November 2024, so its own live record is short and payouts land once or twice a year.sec.gov

BAFE Performance

Launched Nov 18, 2024

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
BAFE$11,438
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. BAFE $11,438. SPY $11,339. Use the arrow keys to read each point.$10,000$11,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BAFE. Periods over one year show the average yearly return.
PeriodBAFE
Year to date+10.5%
1 month−0.1%
3 months−0.7%
1 year+14.4%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BAFE
YearReturn barBAFE
2026 YTD+10.5%
2025+9.8%
2024−0.5%

Since listing, Nov 18, 2024

BAFE in the news

BAFE Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 9, 2026.
0.27%Last 12 months
Payout per share
$0.08Last 12 months
Last payment
$0.08 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

2024–2026

One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 30, 2024 $0.02; Dec 30, 2025 $0.08. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Jan 7, 2026$0.08
Dec 30, 2024Jan 7, 2025$0.02

$10,000 in BAFE 1 year ago paid $30.19 in dividends.

BAFE Risk

Risk pillarB55 out of 100Rank 56 of 125 in US Active Equity
How much the fund’s monthly returns vary, scaled to a year.
13.2%
Annualised · 23 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.33
vs 3-month T-bills · 23 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−18.4%
23 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.95
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

BAFE Cost

Compare BAFE and TACU

Overpaying vs TACU, cheapest in US Active Equity

$10,720

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BAFE 0.54%

    $10,720

  • TACU 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • BAFE 0.54%
  • TACU 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530BAFE $10,720TACU $0

Year by year

YearBAFETACUOverpaying
10$971$0$971
20$3,724$0$3,724
30$10,720$0$10,720
How the 0.54% is worked out

Full fee 0.57%− waiver 0.03%= you pay 0.54%

The waiver ends Jan 31, 2027. After that the fee is 0.57% unless Brown Advisory renews it. Source: prospectus, Jan 2026.

Other funds in US Active Equity

See others