DYNF vs KEAT

DYNFAiShares U.S. Equity Factor Rotation Active ETF

KEATDKeating Active ETF

In short

DYNF Most factor funds make you pick a lane: value, momentum, quality. DYNF rotates across five styles instead, letting a factor model decide which one leads, and charges an index-fund-ish 0.26% to do it.

KEAT A boutique stock picker in a corner of the market dominated by giant quant shops. Keating runs a hand-built equity portfolio chasing both income and growth, and charges active-management prices to do it.

Stated mandate

DYNF The Fund seeks to outperform the U.S. equity market through diversified, tactical exposure to style factors using a factor rotation model.

KEAT The Fund seeks total return through income and capital appreciation.

Why people hold it

• DYNF Five style factors in one ticket (value, quality, momentum, growth, low volatility), reweighted by a rotation model rather than locked to a single tilt.
• 0.26% is well under half the median fee in its active US equity peer group, which is unusual pricing for a strategy with a human-supervised model behind it.
• A multi-billion-dollar fund and one of the more actively traded names in its category, so getting in and out rarely becomes the hard part. Pays quarterly.
• Running since 2019 under one of the biggest ETF shops, and it stands among the strongest overall implementations in the active US equity group we track.

• KEAT Genuinely active, not an index in disguise: holdings come from fundamental research, one company at a time, rather than a rules-based screen.
• A two-sided mandate. It targets total return from income and capital appreciation, and distributions are paid on a quarterly schedule.
• Wide toolkit for an equity fund: common stock, preferred shares, REITs and depositary receipts all sit inside the mandate, so the income can come from more than one place.

Worth knowing

• DYNF The yardstick isn't the S&P 500: it's a custom blend of 80% MSCI USA and 20% MSCI USA Minimum Volatility, so a low-vol tilt is baked into the benchmark itself.
• Active by design. The factor mix shifts, the book runs to a couple hundred stocks, and a rotation call can leave it out of step with a plain US market index fund.
• Cheap for active, not the cheapest shelf: systematic peers DFAU (0.12%), AVLC (0.15%), DFAC (0.17%) and FELC (0.18%) all undercut it on fee.

• KEAT The 0.85% fee sits above the typical active US equity fund at 0.65%, and well above the cohort's highest-rated names: DFAU at 0.12%, AVLC at 0.15%, DFAC at 0.17%.
• Thinly traded and small. Bid-ask spreads tend to be wider on funds like this, which adds a cost that never shows up in the expense ratio.
• Launched in 2024, so the record is short. There is not yet enough history to see how the manager's picks behave across a full market cycle.

Full DYNF profile⁠

Full KEAT profile⁠