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BUSA

GradeCChicago Board Options Exchange

Brandes U.S. Value ETF

Active Equity · Brandes · Inception 2023-10-09

$40.20−0.20 (−0.51%)

As of Sep 23, 2026, 2:25 PM EDT

History starts Oct 9, 2023.
Intraday session: down, 57 prints from 40.40 to 40.20. Range 40.19 to 40.45. Use the arrow keys to read each point.$40.30$40.4010 AM12 PM2 PM4 PM
Expense ratio
0.60%
Fund size
$316M
1Y return
+18.3%
Yield · Last 12 months
1.43%
Holdings
63
Volume · 30D
0M sh
NAV per share
$40.59
52W range
low $34.00high $42.74

The ETF.net BUSA Grade

C

53/ 100

Rank 31 of 66 in US Active Value

Confidence Medium

Six-pillar profile for BUSA. Scores out of 100: Cost 35, Risk 61, Mission 55, Tradability 65, Holdings 75, Durability 61. Strongest: Holdings (75). Weakest: Cost (35). Leans toward Holdings.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 53 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 35
    Category rank42/66 · mid-pack
  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    BScore 55
    Category rank26/27 · bottom quartile
  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 61
    Category rank23/62 · top 37%
  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 65
    Category rank19/66 · top 29%
  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 75
    Category rank15/66 · top 23%
  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 61
    Category rank24/66 · top 36%

Graded as of Sep 22, 2026

Our read on BUSA

ETF.net Research

CBrandes has run Benjamin Graham-style value money since 1974. BUSA is that half-century discipline in an ETF wrapper: about 60 US large caps, actively picked, measured against the Russell 1000 Value.

Stated mandate

The Fund seeks long-term capital appreciation through an actively managed portfolio invested primarily in U.S. company equity securities. It generally targets companies with market capitalizations above $5 billion.

Why people hold it

  1. 01Brandes was founded in 1974 by a student of Benjamin Graham and has run value portfolios ever since. BUSA, launched in 2023, is that house discipline in an ETF.brandes.combrandes.com
  2. 02About 60 US names, chosen against the Russell 1000 Value. The mandate generally targets companies above $5 billion in market cap, so this is large-cap territory.
  3. 03The portfolio is the strongest part of the package: a focused, genuinely active book rather than an index clone with an active fee stapled on. Distributions run quarterly.

Worth knowing

  1. 01At 0.60% it sits above the typical fee in its value cohort, and systematic rivals like AVLV (0.15%) and WTV (0.12%) charge a fraction of that. Stock picking costs.
  2. 02Thinly traded next to the giants of US value, so spreads can run wider and order size matters more than it would in a household-name fund.
  3. 03Roughly 60 holdings means individual names carry real weight, and a value book can look nothing like the broad market for long stretches, in either direction.

BUSA Holdings

As of Sep 20, 2026, 9:22 AM
Asset class
Stocks
Holdings
63
Top-10 weight
25%
Largest holding
BDXA3.0%

Sectors

  • Health Care25.6%
  • Financials22.9%
  • Industrials12.1%
  • Technology10.1%
  • Energy6.1%
  • Communication5.7%
  • Consumer Discr.5.5%
  • Cons. Staples5.2%
  • Materials3.9%
  • Utilities3.0%

Geography

  • United States89.90%
  • United Kingdom2.99%
  • France2.04%
  • Ireland1.97%
  • Bermuda1.81%
  • Canada1.29%
The fund’s holdings, weight-ordered — page 1 of 5.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001BDXABECTON DICKINSON + CO USD 1.02.99%51,255$9M171
0020QAH.LMERCK + CO INC NEW USD 0.52.86%60,350$9M1
003CICIGNA GROUP USD 0.012.60%29,264$8M360
0040Q16.LBANK AMER CORP USD 0.012.60%139,465$8M1
0050LF0.LTEXTRON INC USD 0.1252.55%99,441$8M2
0060L1G.LSS+C TECHNOLOGIES HLDGS IN USD 0.012.38%92,516$7M2
007PFE.BAPFIZER INC USD 0.052.20%246,485$7M8
008CVXCHEVRON CORP USD 0.752.19%32,492$7M468
009GOOGALPHABET INC CLASS C2.17%19,506$7M471
0100JC3.LINTERCONTINENTAL EXCHANGE INC2.16%43,012$7M2
011PNCPNC FINL SVCS GROUP INC USD 5.02.15%28,661$7M326
012WFCWELLS FARGO + CO NEW USD 1.6662.11%75,892$7M380
013SNYSANOFI. EUR 2.0 ADR2.04%148,981$6M35
014ICLRICON PLC EUR 0.061.97%37,307$6M71
0150R33.LEMERSON EL COM USD0.501.92%39,705$6M1

Showing 1–15 of 63 holdings

BUSA Performance

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

BUSA$11,833
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. BUSA $11,833. SPY $11,723. Use the arrow keys to read each point.$9,293$11,019$12,744Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 BUSA. Periods over one year show the average yearly return.
PeriodBUSA
Year to date+11.4%
1 month−4.9%
3 months+4.1%
1 year+18.3%
3 yearsFund is under 3 years oldper year
5 yearsFund is under 5 years oldper year
10 yearsFund is under 10 years oldper year

As of the close, 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 BUSA
YearReturn barBUSA
2026 YTD+11.4%
2025+17.6%
2024+15.8%
2023+9.0%

Since listing, Oct 9, 2023

BUSA in the news

ETF.net Research hasn’t filed on BUSA yet — coverage lands here as it’s written.

BUSA 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 Sep 22, 2026.
1.43%Last 12 months
Payout per share
$0.58Last 12 months
Last payment
$0.16 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2023–2026

One bar per payment. 11 payments from 2023 to 2026 YTD. Dec 27, 2023 $0.06; Mar 26, 2024 $0.07; Jun 27, 2024 $0.11; Sep 27, 2024 $0.10; Dec 30, 2024 $0.15; Mar 28, 2025 $0.12; Jun 27, 2025 $0.16; Sep 29, 2025 $0.12; Dec 30, 2025 $0.17; Mar 30, 2026 $0.13; Jun 29, 2026 $0.16. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Jun 29, 2026Jun 30, 2026$0.16
Mar 30, 2026Mar 31, 2026$0.13
Dec 30, 2025Dec 31, 2025$0.17
Sep 29, 2025Sep 30, 2025$0.12
Jun 27, 2025Jun 30, 2025$0.16
Mar 28, 2025Mar 31, 2025$0.12
Dec 30, 2024Dec 31, 2024$0.15
Sep 27, 2024Sep 30, 2024$0.10
Jun 27, 2024Jun 28, 2024$0.11
Mar 26, 2024Mar 28, 2024$0.07
Dec 27, 2023Dec 29, 2023$0.06

BUSA Risk

How much the fund’s monthly returns vary, scaled to a year.
12.3%
Annualised · 34 months to Aug 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.
1.38
vs 3-month T-bills · 34 months to Aug 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.
−14.2%
35 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.
0.65
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.

BUSA Cost

Expense ratio0.60%
  • The middle half of US Active Value funds
  • Median 0.55%

42 of the 66 US Active Value funds charge less.

BUSA costs $60.00 a year on $10,000. The median US Active Value fund costs $55.00.