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Launched

Scharf ETF

KATNasdaqD

$58.34+0.11 (+0.18%)

At close: Oct 13, 2026, 4:00 PM

D36/ 100

Rank 48 of 66 in US Active Value

D36/100Rank 48 of 66inUS Active Value
Intraday session: up, 26 prints from 58.24 to 58.34. Range 58.24 to 58.46. Use the arrow keys to read each point.58.3058.4058.4510 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$653M
1Y total return
—
Yield · Last 12 months
Data unavailable
Holdings
34
Avg volume · 30D
0M sh
NAV per share
$57.98
52W range
low $52.27high $59.34
Launched

The ETF.net KAT Grade

Based on 5 of 6 pillars

D

Score 36 out of 100

Category
US Active Value⁠
Rank
48 of 66
Six-pillar profile for KAT. Scores out of 100: Cost 18, Risk 54, Mission not scored, Tradability 51, Holdings 25, Durability 77. Strongest: Durability (77). Weakest: Cost (18). Based on 5 of 6 pillars.

Score 36 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.
    F18 out of 100
    Rank 52 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.
    C54 out of 100
    Rank 33 of 63

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C51 out of 100
    Rank 30 of 66

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D25 out of 100
    Rank 64 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 11 of 66

Our read on KAT

ETF.net Research

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

  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 Oct 12, 2026
Asset class
Stocks
Holdings
34
Top-10 weight
51%
Largest holding
MSFT6.3%

Sectors

  • Financials28.1%
  • Health Care18.3%
  • Technology14.9%
  • Industrials12.1%
  • Communication9.4%
  • Consumer Discretionary5.9%
  • Energy5.7%
  • Materials3.9%
  • Consumer Staples1.6%

Geography

  • United States84.10%
  • Canada7.72%
  • Korea (the Republic of)4.45%
  • Switzerland3.15%
  • Ireland0.58%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001MSFTMicrosoft Corp6.28%76,625$41M815
002METAMeta Platforms Inc5.96%54,107$39M704
003AMZNAmazon.com Inc5.92%147,193$39M736
004OXYOccidental Petroleum Corp5.83%633,151$38M318
005UNPUnion Pacific Corp5.36%125,775$35M406
006MCKMcKesson Corp4.79%33,267$31M359
007VVisa Inc4.60%77,947$30M558
008MKLMarkel Group Inc4.50%16,692$29M169
009MRSHMarsh & McLennan Cos Inc4.11%152,623$27M335
010FNVFranco-Nevada Corp3.79%100,951$25M36
011BNBrookfield Corp3.49%614,572$23M41
012SCHWCharles Schwab Corp/The3.46%233,854$23M393
013AAgilent Technologies Inc3.34%127,897$22M317
014CNCCentene Corp3.29%328,132$21M326
015DISWalt Disney Co/The2.96%178,769$19M371

Showing 1–15 of 34 holdings

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$10,420
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. KAT $10,420. SPY $10,332. Use the arrow keys to read each point.$9,588$10,128$10,668Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 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+1.0%
3 months+4.2%
1 yearHistory unavailable—
3 yearsHistory unavailableper year—
5 yearsHistory unavailableper year—
10 yearsHistory unavailableper 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

Filtered to KAT · US Active Value

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

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.

Other funds in US Active Value

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