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KAT

GradeCNASDAQ Global Select

Scharf ETF

Active Equity · Scharf · Inception 2011-12-30

$57.45−0.15 (−0.26%)

As of Sep 23, 2026, 2:14 PM EDT

Intraday session: down, 19 prints from 57.60 to 57.45. Range 57.45 to 57.66. Use the arrow keys to read each point.$57.50$57.55$57.60$57.6510 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$664M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
38
Volume · 30D
0M sh
NAV per share
$57.83
52W range
low $52.27high $59.34

The ETF.net KAT Grade

C

41/ 100

Rank 41 of 66 in US Active Value⁠

Confidence Medium

Six-pillar profile for KAT. Scores out of 100: Cost 18, Risk 60, Mission not scored, Tradability 65, Holdings 33, Durability 77. Strongest: Durability (77). Weakest: Cost (18). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 41 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.
    FScore 18
    Category rank53/66 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 60
    Category rank24/62 · top 39%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 65
    Category rank20/66 · top 30%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 33
    Category rank58/66 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 77
    Category rank11/66 · top 17%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on KAT

ETF.net Research

CA concentrated take on value: roughly 40 quality names, US and international, bought at discounts to what Scharf's team thinks they're worth. This is the firm's long-running mutual fund strategy, now in an ETF wrapper.

Stated mandate

The Fund seeks long-term capital appreciation. It primarily invests in equity securities, principally those of mid- and large-capitalization companies, while retaining authority to invest in fixed-income securities and other assets.

Why people hold it

  1. 01Genuinely concentrated and genuinely active: about 40 holdings, so each pick carries real weight, unlike index value funds spread across hundreds of names.
  2. 02The mandate travels. US and international equities, mid- and large-cap, with prospectus authority to hold fixed income and other assets when the manager wants dry powder.
  3. 03Not a blank-slate launch. The strategy converted over from Scharf's mutual fund with a record dating to 2016, and reached the ETF market at several hundred million in size.etftrends.com

Worth knowing

  1. 01Active pricing: 0.75% a year, above the 0.55% median for its active value peers and several times the 0.15% at AVLV or 0.12% at WTV.
  2. 02Thinly traded for its category, so bid-ask spreads tend to run wider and fills less tidy than in the value aisle's giants.
  3. 03Concentration cuts both ways. With about 40 names and one team's judgment behind them, results can wander a long way from broad value benchmarks.

KAT Holdings

As of Sep 20, 2026, 9:33 AM
Asset class
Stocks
Holdings
38
Top-10 weight
50%
Largest holding
MSFT5.9%

Sectors

  • Financials28.4%
  • Health Care19.3%
  • Technology14.7%
  • Industrials12.6%
  • Communication7.8%
  • Consumer Discr.5.8%
  • Energy5.8%
  • Materials4.0%
  • Cons. Staples1.7%

Geography

  • United States83.58%
  • Canada8.03%
  • Korea (the Republic of)4.31%
  • Switzerland3.13%
  • Ireland0.95%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001MSFTMicrosoft Corp5.88%78,189$39M792
002OXYOccidental Petroleum Corp5.79%646,077$38M314
003AMZNAmazon.com Inc5.70%150,183$38M720
004METAMeta Platforms Inc5.69%55,211$38M683
005UNPUnion Pacific Corp5.48%128,328$36M401
006MKLMarkel Group Inc4.59%17,014$30M174
007MCKMcKesson Corp4.51%33,934$30M356
008VVisa Inc4.45%79,534$29M550
009FNVFranco-Nevada Corp4.15%102,998$27M37
010AAgilent Technologies Inc3.88%164,057$26M311
011SCHWCharles Schwab Corp/The3.77%238,615$25M385
012MRSHMarsh & McLennan Cos Inc3.70%140,398$25M335
013BNBrookfield Corp3.52%627,107$23M42
014CNCCentene Corp3.39%334,825$22M320
015ADBEAdobe Inc2.99%78,375$20M475

Showing 1–15 of 35 holdings

KAT Performance

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

KAT$10,733
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. KAT $10,733. SPY $10,415. Use the arrow keys to read each point.$9,693$10,417$11,141Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – 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 KAT. Periods over one year show the average yearly return.
PeriodKAT
Year to dateHistory unavailable—
1 month−2.2%
3 months+7.3%
1 yearHistory unavailable—
3 yearsHistory unavailable—per year
5 yearsHistory unavailable—per year
10 yearsHistory unavailable—per 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 return data is unavailable.

KAT in the news

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

KAT 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.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.05 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 3 payments from 2025 to 2026 YTD. Dec 30, 2025 $0.02; Mar 30, 2026 $0.20; Jun 29, 2026 $0.05. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Jun 29, 2026Jun 30, 2026$0.05
Mar 30, 2026Mar 31, 2026$0.20
Dec 30, 2025Dec 31, 2025$0.02

KAT Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
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.
—
No data available
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.
—
No data available
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.

KAT Cost

Expense ratio0.75%
  • The middle half of US Active Value funds
  • Median 0.55%

51 of the 66 US Active Value funds charge less.

KAT costs $75.00 a year on $10,000. The median US Active Value fund costs $55.00.