ENDW vs QPX: Grades, Fees and Holdings Compared

Cambria Endowment Style ETF

ENDWANasdaq

AdvisorShares Q Dynamic Growth ETF

QPXFNYSE Arca

Overlap

0.5%by weight

Expense ratio

ENDW −1.55pt a year

ENDW0.22%QPX1.77%

Avg volume · 30D

ENDW 5.6×the volume

ENDW17.1KQPX3.08K

ENDW vs QPX Performance

Oct 31, 2025 – Oct 30, 2026

+14.9%ENDW+4.0%QPX

Expense ratio: ENDW 0.22%, better; QPX 1.77%
Fund size: ENDW $160M; QPX $32M
1Y total return: ENDW +14.9%, better; QPX +4.0%
Yield (12M): ENDW 2.37%; QPX No data
Holdings: ENDW 73; QPX 8
Avg volume (30D): ENDW 17.1K sh, better; QPX 3.08K sh
NAV per share: ENDW $34.35; QPX $46.11
52W range

ETF.net Grade

Pillar letters and Scores for ENDW, QPX, with each pillar’s weight
Pillar	ENDW	QPX
Cost30% weight	A100Higher	F3
Mission25% weight	A81	Not scored
Risk15% weight	A75Higher	D32
Tradability15% weight	B69Higher	D33
Holdings10% weight	B62Higher	D37
Durability5% weight	B65Higher	B55

Rank among Tactical Allocation funds

How we build Categories ›

Same Category. ENDW and QPX 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 QPX 43rd of 46 funds in the Tactical Allocation Category.

Rank 1AENDWCambria Endowment Style ETFScore 81
Rank 2AGMODGMO Dynamic Allocation ETFScore 76
Rank 43FDRAIDraco Evolution AI ETFScore 23
Rank 43FQPXAdvisorShares Q Dynamic Growth ETFScore 23
Rank 45FOROArrow Valtoro ETFScore 22

Our read on each fund

ETF.net Research

ENDWACambria Endowment Style ETF

QPXFAdvisorShares Q Dynamic Growth 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.

QPX A one-ticker tactical mix: it owns other ETFs across stocks, bonds, commodities and volatility products, pursuing equity-like growth until implied volatility turns abnormal, then shifting defensive. Actively run, and priced like it.

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.

QPX The Fund seeks long-term growth. It actively allocates among ETFs spanning equities, bonds, commodities, volatility products and other asset classes, normally pursuing equity-like returns but moving defensively when implied volatility is abnormal.

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.

QPX Stocks, bonds, commodities and volatility products in a single holding, with a manager free to move the mix instead of sitting in a fixed allocation.advisorshares.com
The defense switch is written into the mandate, not the marketing: abnormal implied volatility is the documented cue to move the portfolio defensively.advisorshares.com
Trading since December 2020, so there is a multi-year live record to inspect instead of a backtest.advisorshares.com

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.

QPX The 1.76% annual fee is a heavy lift. Tactical cohort peers such as ENDW (0.22%) and ONOF (0.39%) charge a fraction of it.
Small and thinly traded, so spreads can be wide and a big order can move the price. Limit orders are the norm here.
No published benchmark to measure it against, so results ride on one team's volatility read rather than a rule you can check yourself.

Full ENDW profile⁠

Full QPX profile⁠

ENDW vs QPX Holdings

How ENDW and QPX differ

Overlap by weight

0.5%

Shared holdings make up 13.2% of QPX and 0.5% of ENDW.

Level by level

Holdings1 in both0.5%
Sector11 Sectors42.4%
Countryby domicile59.3%
Asset classEquity100%

Sector

Sector weights in ENDW and QPX, widest gap first
Sector	More in ENDWMore in QPX	ENDW	QPX
Technology	QPX +36.0 points	15.5%	51.5%
Financials	ENDW +18.9 points	19.0%	0.1%
Industrials	QPX +13.1 points	13.0%	26.1%
Energy	ENDW +11.8 points	11.8%	0.0%
Real Estate	ENDW +8.5 points	8.5%	0.0%
Communication	QPX +8.3 points	4.5%	12.8%
Health Care	ENDW +5.5 points	5.5%	0.0%
Materials	ENDW +5.4 points	5.5%	0.1%
Consumer Staples	ENDW +4.2 points	4.2%	0.0%
Utilities	ENDW +3.2 points	3.2%	0.0%
Consumer Discretionary	QPX +0.4 points	9.2%	9.6%

Country, concentration and asset class

Country by domicile

Country weights in ENDW and QPX, widest gap first
Country	More in ENDWMore in QPX	ENDW	QPX
United States	QPX +40.7 points	58.9%	99.6%
South Africa	ENDW +3.9 points	3.9%	0.0%
Japan	ENDW +3.8 points	3.8%	0.0%
United Kingdom	ENDW +3.7 points	3.7%	0.0%
China	ENDW +3.3 points	3.4%	0.1%
Taiwan	ENDW +3.3 points	3.3%	0.0%
Canada	ENDW +2.9 points	2.9%	0.0%
South Korea	ENDW +1.9 points	1.9%	0.0%
Other countries (28)	ENDW +17.9 points	18.2%	0.3%

Outside the US: ENDW 52% developed, 48% emerging.

Concentration

Weight in the 10 largest Holdings

ENDW72.8%
QPX100.3%

Securities held

ENDW72
QPX8

Asset class

ENDW: Equity
QPX: Equity

Holdings

Only in ENDW71
In both1
Only in QPX7

Only in ENDW

71 securities, 99.4% of ENDW by weight

US 10YR NOTE (CBT)Dec2622.47%
Cambria Foreign Shareholder Yield ETF10.21%
Cambria Emerging Shareholder Yield ETF7.99%
Cambria Value and Momentum ETF7.49%
State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF4.50%
Cambria Shareholder Yield ETF4.33%
Cambria Global Value ETF4.19%
Cambria Chesapeake Pure Trend ETF4.12%
Cambria Global Real Estate ETF3.73%
iMGP DBi Managed Futures Strategy ETF3.72%
State Street SPDR S&P Global Natural Resources ETF2.15%
First American Government Obligations Fund 12/01/20311.93%
CSX Corp1.02%
Apple Inc0.87%
Vertex Pharmaceuticals Inc0.85%
JPMorgan Chase & Co.0.81%
American Electric Power Co Inc0.80%
Vanguard S&P 500 ETF0.80%
iShares Russell 3000 ETF0.80%
State Street SPDR S&P 500 ETF Trust0.79%
NVIDIA Corp0.75%
Dimensional US Marketwide Value ETF0.73%
Mastercard Inc0.69%
MongoDB Inc0.69%
Amazon.com Inc0.69%
Vanguard Real Estate ETF0.68%
Microsoft Corp0.67%
Tesla Inc0.66%
Alphabet Inc0.64%
Broadcom Inc0.63%
Trane Technologies PLC0.63%
Vanguard Global ex-U.S. Real Estate ETF0.60%
Norfolk Southern Corp0.50%
Xylem Inc/NY0.50%
Berkshire Hathaway Inc0.43%
Analog Devices Inc0.42%
Unity Software Inc0.35%
Aecom0.33%
Goldman Sachs Group Inc/The0.33%
Visa Inc0.32%
ExxonMobil Holdings Corp0.30%
Union Pacific Corp0.29%
Vanguard Morningstar Total Stock Market ETF0.23%
Vanguard FTSE All-World ex-US ETF0.23%
Taiwan Semiconductor Manufacturing Co Ltd0.23%
UnitedHealth Group Inc0.21%
Walmart Inc0.21%
Cambria Tax Aware ETF0.20%
Lowe's Cos Inc0.19%
Advanced Micro Devices Inc0.16%

Only in QPX

7 securities, 87.1% of QPX by weight

Ss Technology Select Sector19.57%
iShares USTechnology ETF18.59%
Ishares Core S&P Small-Cap E18.00%
Ss Consumer Disc Select Sect12.94%
Ss Comm Select Sector Spdr8.36%
Sprott Physical Gold Trust7.14%
Fidelity Instl Mmkt Govt 572.48%

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in ENDW and QPX, widest gap first
Holding	More in ENDWMore in QPX	ENDW	QPX
SPDR Gold SharesGLD	QPX +12.70 points	0.52%	13.22%

All 72 ENDW holdings⁠All 9 QPX 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 QPX Cost

Overpaying QPX vs ENDW

$25,413

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

ENDW 0.22%
$4,558
QPX 1.77%
$29,971

Amount$10,000

Years30 years

Cost over time

ENDW 0.22%
QPX 1.77%
Overpaying

Year by year

Year	ENDW	QPX	Overpaying
10	$401	$3,022	$2,621
20	$1,561	$10,977	$9,416
30	$4,558	$29,971	$25,413

Expense ratio

0.22%ENDW, cheaper
1.77%QPX

ENDW0.22%QPX1.77%

0.22%1.99%

Middle half of Tactical Allocation funds
Median 0.93%

ENDW cheapest of 46 funds

QPX 44th cheapest of 46 funds

ENDW vs QPX Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ENDW 2.37%; QPX No data
Payout (12M): ENDW $0.82; QPX None
Last payment: ENDW $0.16; QPX No data
Ex-dividend: ENDW Sep 28, 2026; QPX No data
Paid on: ENDW Sep 30, 2026; QPX No data
Frequency: ENDW Quarterly; QPX No data

Distribution history

Per share, 2025 to 2026, same scale for both

ENDWQuarterly · 6 paymentsAll ENDW payments⁠

QPXAll QPX payments⁠

No distribution history available.

ENDW vs QPX 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 2025QPX 13.1%
Return per unit of riskSharpe ratio, 3 years: ENDW 1.99since May 2025QPX 1.08
Worst fallMax drawdown, 5 years: ENDW −6.4%since Apr 2025QPX −34.7%
Market sensitivityBeta, 5 years: ENDW 0.61QPX 1.20; Market = 1

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