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Launched

Scharf ETF

KATNasdaqScharfD

$59.53+0.47 (+0.80%)

At close: Nov 2, 2026, 4:00 PM ET

D37/ 100

Rank 49 of 66 in US Active Value

D37/100Rank 49 of 66inUS Active Value
Intraday session: up, 79 prints from 59.06 to 59.53. Range 59.06 to 59.80. Use the arrow keys to read each point.59.2059.4059.8010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$669M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
34
Avg volume · 30D
12.6K sh
52W range
low $52.27high $59.74
Launched

The ETF.net KAT Grade

Based on 5 of 6 pillars

D

Score 37 out of 100

Category
US Active Value⁠
Rank
49 of 66
Six-pillar profile for KAT. Scores out of 100: Cost 15, Risk 58, Mission not scored, Tradability 49, Holdings 34, Durability 77. Strongest: Durability (77). Weakest: Cost (15). Based on 5 of 6 pillars.

Score 37 of 100 falls in the D 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.
    F15 out of 100
    Rank 55 of 66

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B58 out of 100
    Rank 25 of 65

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C49 out of 100
    Rank 33 of 66

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D34 out of 100
    Rank 57 of 66

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A77 out of 100
    Rank 10 of 66

Our read on KAT

ETF.net Research

In short

DA 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

  • Genuinely concentrated and genuinely active: about 40 holdings, so each pick carries real weight, unlike index value funds spread across hundreds of names.
  • The 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.
  • Not 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

  • Active 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.
  • Thinly traded for its category, so bid-ask spreads tend to run wider and fills less tidy than in the value aisle's giants.
  • Concentration 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 Performance

Launched Dec 30, 2011

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.Not enough history yet.Not enough history yet.
KAT$10,378
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. KAT $10,378. SPY $10,141. Use the arrow keys to read each point.$10,000$10,200$10,400Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – Oct 30, 2026

Returns run to the Oct 30, 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 unavailableNo data
1 month+4.8%
3 months+3.8%
1 yearHistory unavailableNo data
3 yearsHistory unavailableper yearNo data
5 yearsHistory unavailableper yearNo data
10 yearsHistory unavailableper 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 return data is unavailable.

KAT in the news

KAT Dividends

Last payment
$0.04 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. 4 payments from 2025 to 2026 YTD. Dec 30, 2025 $0.02; Mar 30, 2026 $0.20; Jun 29, 2026 $0.05; Sep 29, 2026 $0.04. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 29, 2026Sep 30, 2026$0.04
Jun 29, 2026Jun 30, 2026$0.05
Mar 30, 2026Mar 31, 2026$0.20
Dec 30, 2025Dec 31, 2025$0.02

KAT Risk

Risk pillarB58 out of 100Rank 25 of 65 in US Active Value
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.

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

KAT Cost

Compare KAT and WTV

Overpaying vs WTV, cheapest in US Active Value

$11,962

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

  • KAT 0.75%

    $14,482

  • WTV 0.12% Cheapest

    $2,520

$10,000
30 years

Cost over time

  • KAT 0.75%
  • WTV 0.12%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530KAT $14,482WTV $2,520

Year by year

YearKATWTVOverpaying
10$1,336$220$1,116
20$5,078$859$4,219
30$14,482$2,520$11,962

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