ENDW vs FPAA: Grades, Fees and Holdings Compared

Cambria Endowment Style ETF

ENDWANasdaq

FPA Global Allocation ETF

FPAACCboe

Overlap

0.0%by weight

Expense ratio

ENDW −0.27pt a year

ENDW0.22%FPAA0.49%

Avg volume · 30D

ENDW 1.5×the volume

ENDW23.3KFPAA15.3K

ENDW vs FPAA Performance

Aug 7, 2026 – Nov 9, 2026

−1.5%ENDW+0.4%FPAA

Expense ratio: ENDW 0.22%, better; FPAA 0.49%
Fund size: ENDW $158M; FPAA $36M
1Y total return: ENDW +14.6%; FPAA No data
Yield (12M): ENDW 2.39%; FPAA No data
Holdings: ENDW 74; FPAA 5
Avg volume (30D): ENDW 23.3K sh, better; FPAA 15.3K sh
NAV per share: ENDW $33.62; FPAA $25.87
52W range

ETF.net Grade

Pillar letters and Scores for ENDW, FPAA, with each pillar’s weight
Pillar	ENDW	FPAA
Cost30% weight	A100Higher	A90
Mission25% weight	A81Higher	F10
Risk15% weight	A72	A82Higher
Tradability15% weight	A75Higher	C48
Holdings10% weight	B61Higher	D32
Durability5% weight	B65Higher	D30

Rank among Tactical Allocation funds

How we build Categories ›

Same Category. ENDW and FPAA are both graded against the same 46 Tactical Allocation funds, so their Grades compare head to head.

Tactical Allocation⁠

Category · 46 funds

See all 46 ›

ENDW ranks 1st and FPAA 24th of 46 funds in the Tactical Allocation Category.

Rank 1AENDWCambria Endowment Style ETFScore 81
Rank 2ARISNInspire Capital Appreciation ETFScore 72
Rank 24CCLSMETC Cabana Target Leading Sector Moderate ETFScore 53
Rank 24CFPAAFPA Global Allocation ETFScore 53
Rank 24CGMMAGammaRoad Market Navigation ETFScore 53

Our read on each fund

ETF.net Research

ENDWACambria Endowment Style ETF

FPAACFPA Global Allocation ETF

In short

ENDW The endowment playbook in one ticker: global stocks, bonds and real assets, actively steered by Cambria, with built-in leverage, for 0.22% a year. Endowment ambition without the endowment fee schedule.

FPAA No data

Stated mandate

ENDW ENDW seeks income and capital appreciation. It is actively managed to provide exposure to multiple major asset classes through underlying ETFs or individual equities.

FPAA No data

Why people hold it

ENDW 0.22% a year against a roughly 0.95% median for tactical allocation funds, and cheaper than the other standouts in the group such as ONOF (0.39%) and GMOD (0.50%).
One ticker spans US, developed and emerging markets across equities, bonds and real assets, roughly 70 positions, with value and momentum screens applied on top.cambriafunds.com
Capital efficient by design: the manager expects notional exposure of 100% to 150% of assets, using Treasury futures alongside the underlying ETF sleeves.usnews.com businesswire.com
Pays income quarterly, and on our review it sits among the strongest implementations in the tactical allocation group.

FPAA No data

Worth knowing

ENDW It owns other ETFs, which charge their own fees on top of the 0.22% management fee, so the all-in cost of ownership runs higher than the headline.cambriafunds.com
Leverage works both ways. Notional exposure above 100% of assets magnifies moves in either direction, and Cambria itself calls the risk profile aggressive.businesswire.com
Launched in 2025 and still modest in size, so the record is short and shares change hands less often than mainstream index funds.

FPAA No data

Full ENDW profile⁠

Full FPAA profile⁠

ENDW vs FPAA Holdings

How ENDW and FPAA differ

Overlap by weight

0.0%

About this figure: ENDW holds other funds. We compare those funds, not the stocks inside them.

FPAA holds other funds. We compare those funds, not the stocks inside them.

Level by level

Holdings0 in both0.0%
Sector12 Sectors49.3%
Countryby domicile73.6%
Asset classStocks100%

Sector

Sector weights in ENDW and FPAA, widest gap first
Sector	Gap	ENDW	FPAA
Government	FPAA +35.7 points	0.0%	35.7%
Financials	ENDW +12.5 points	18.9%	6.4%
Energy	ENDW +9.9 points	10.6%	0.7%
Real Estate	ENDW +8.4 points	8.4%	0.0%
Industrials	ENDW +6.6 points	13.9%	7.3%
Technology	ENDW +6.2 points	14.7%	8.5%
Communication	FPAA +5.0 points	4.5%	9.5%
Health Care	FPAA +5.0 points	6.5%	11.5%
Consumer Discretionary	ENDW +3.8 points	9.2%	5.4%
Materials	FPAA +3.6 points	5.1%	8.7%
Utilities	ENDW +3.2 points	3.2%	0.0%
Consumer Staples	FPAA +1.4 points	4.9%	6.3%

Country, concentration and asset class

Country by domicile

Country weights in ENDW and FPAA, widest gap first
Country	Gap	ENDW	FPAA
Netherlands	FPAA +8.9 points	1.3%	10.2%
Switzerland	FPAA +5.3 points	0.5%	5.8%
France	FPAA +4.1 points	1.7%	5.8%
South Africa	ENDW +4.0 points	4.0%	0.0%
United Kingdom	ENDW +3.9 points	3.9%	0.0%
Taiwan	ENDW +2.8 points	2.8%	0.0%
Germany	FPAA +2.4 points	0.6%	3.0%
Canada	ENDW +2.1 points	2.8%	0.7%
Other countries (28)	ENDW +7.9 points	82.4%	74.5%

Outside the US: ENDW 53% developed, 47% emerging. FPAA 83% developed, 17% emerging.

Concentration

Weight in the 10 largest Holdings

ENDW70.3%
FPAA100.1%

Securities held

ENDW73
FPAA5

Asset class

ENDW: Stocks
FPAA: Stocks

Holdings

Only in ENDW73
In both0
Only in FPAA5

Only in ENDW

73 securities, 99.5% of ENDW by weight

US 10YR NOTE (CBT)Dec2620.56%
Cambria Foreign Shareholder Yield ETF10.01%
Cambria Emerging Shareholder Yield ETF7.91%
Cambria Value and Momentum ETF7.34%
State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF4.36%
Cambria Shareholder Yield ETF4.32%
Cambria Global Value ETF4.25%
Cambria Chesapeake Pure Trend ETF4.04%
Cambria Global Real Estate ETF3.86%
iMGP DBi Managed Futures Strategy ETF3.67%
US 10YR NOTE (CBT)Mar272.31%
State Street SPDR S&P Global Natural Resources ETF2.12%
First American Government Obligations Fund 12/01/20311.84%
CSX Corp0.98%
Apple Inc0.87%
Vertex Pharmaceuticals Inc0.83%
JPMorgan Chase & Co.0.81%
American Electric Power Co Inc0.79%
Vanguard S&P 500 ETF0.79%
iShares Russell 3000 ETF0.79%
State Street SPDR S&P 500 ETF Trust0.77%
Amazon.com Inc0.75%
Dimensional US Marketwide Value ETF0.73%
Mastercard Inc0.71%
Vanguard Real Estate ETF0.71%
NVIDIA Corp0.69%
Microsoft Corp0.69%
Alphabet Inc0.66%
Vanguard Global ex-U.S. Real Estate ETF0.62%
Trane Technologies PLC0.62%
MongoDB Inc0.62%
Tesla Inc0.60%
Broadcom Inc0.57%
SPDR Gold Shares0.55%
Xylem Inc/NY0.53%
Unity Software Inc0.49%
Norfolk Southern Corp0.47%
Berkshire Hathaway Inc0.45%
Analog Devices Inc0.37%
Aecom0.36%
Visa Inc0.33%
Goldman Sachs Group Inc/The0.31%
Union Pacific Corp0.28%
ExxonMobil Holdings Corp0.27%
Vanguard FTSE All-World ex-US ETF0.23%
Vanguard Morningstar Total Stock Market ETF0.23%
Walmart Inc0.21%
Taiwan Semiconductor Manufacturing Co Ltd0.21%
Lowe's Cos Inc0.21%
UnitedHealth Group Inc0.20%

Only in FPAA

5 securities, 100% of FPAA by weight

Fpa Global Equity Etf New63.25%
Fpa Short Duration Govt Etf33.24%
Ishares Bb Rated Corp Bond1.67%
Vngrd Totl Inflt Pro Sec Etf1.54%
Cashusd0.43%

Weight gaps

ENDW and FPAA share no securities.

All 73 ENDW holdings⁠All FPAA holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ENDW vs FPAA Cost

Overpaying FPAA vs ENDW

$5,234

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

ENDW 0.22%
$4,558
FPAA 0.49%
$9,792

Amount$10,000

Years30 years

Cost over time

ENDW 0.22%
FPAA 0.49%
Overpaying

Year by year

Year	ENDW	FPAA	Overpaying
10	$401	$883	$482
20	$1,561	$3,394	$1,833
30	$4,558	$9,792	$5,234

Expense ratio

0.22%ENDW, cheaper
0.49%FPAA

ENDW0.22%FPAA0.49%

0.22%1.99%

Middle half of Tactical Allocation funds
Median 0.93%

ENDW cheapest of 46 funds

FPAA 5th cheapest of 46 funds

ENDW vs FPAA Dividends

Last 12 months to Nov 9, 2026

Yield (12M): ENDW 2.39%; FPAA No data
Payout (12M): ENDW $0.82; FPAA No data
Last payment: ENDW $0.16; FPAA $0.13
Ex-dividend: ENDW Sep 28, 2026; FPAA Sep 25, 2026
Paid on: ENDW Sep 30, 2026; FPAA Sep 29, 2026
Frequency: ENDW Quarterly; FPAA Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

ENDWQuarterly · 6 paymentsAll ENDW payments⁠

FPAAIrregular · 1 paymentAll FPAA payments⁠

ENDW vs FPAA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: ENDW 9.2%since May 2025FPAA No data
Return per unit of riskSharpe ratio, 3 years: ENDW 1.99since May 2025FPAA No data
Worst fallMax drawdown, 5 years: ENDW −6.4%since Apr 2025FPAA No data
Market sensitivityBeta, 5 years: ENDW 0.59FPAA 0.93; Market = 1

Popular comparisons

ENDWAvsRISNA
Cambria Endowment Style ETF · Inspire Capital Appreciation ETF
Expense ratio
0.22% · 0.72%
Category
FPAACvsRISNA
FPA Global Allocation ETF · Inspire Capital Appreciation ETF
Expense ratio
0.49% · 0.72%
Category
ENDWAvsPBLA
Cambria Endowment Style ETF · PGIM Portfolio Ballast ETF
Expense ratio
0.22% · 0.45%
Category
FPAACvsPBLA
FPA Global Allocation ETF · PGIM Portfolio Ballast ETF
Expense ratio
0.49% · 0.45%
Category
ENDWAvsPTBDA
Cambria Endowment Style ETF · Pacer Trendpilot US Bond ETF
Expense ratio
0.22% · 0.60%
Category
FPAACvsPTBDA
FPA Global Allocation ETF · Pacer Trendpilot US Bond ETF
Expense ratio
0.49% · 0.60%
Category