Investment objective & strategy
As of March 4, 2026 · prospectusObjective. The investment goal of Baron Financials ETF (the Fund) is capital appreciation.
Strategy. The Fund is a diversified fund that, under normal circumstances, invests at least 80% of its net assets in equity securities (including depositary receipts) of Financials and Financials-related companies of any market capitalization as defined by BAMCO, Inc. (BAMCO or the Adviser). Financials and Financials related companies are companies that the Adviser determines own, operate, or have substantial investments in businesses that provide banking, lending, capital markets, financial data analytics, insurance, payments, asset management or wealth management; or develop, use, or rely on innovative technologies or services, in a significant way for banking, lending, capital markets, financial data analytics, insurance, payments, asset management or wealth management. The Fund may purchase securities of companies of any market capitalization and may invest … The Fund is a diversified fund that, under normal circumstances, invests at least 80% of its net assets in equity securities (including depositary receipts) of Financials and Financials-related companies of any market capitalization as defined by BAMCO, Inc. (BAMCO or the Adviser). Financials and Financials related companies are companies that the Adviser determines own, operate, or have substantial investments in businesses that provide banking, lending, capital markets, financial data analytics, insurance, payments, asset management or wealth management; or develop, use, or rely on innovative technologies or services, in a significant way for banking, lending, capital markets, financial data analytics, insurance, payments, asset management or wealth management. The Fund may purchase securities of companies of any market capitalization and may invest in foreign stocks, including securities of companies in developing countries, however, investments in non-U.S. securities are limited to 35% of the Funds total assets at the time of purchase.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| MASTERCARD INC CL A | — | $2.56M | 5.59% |
| VISA INC-CLASS A | — | $2.54M | 5.53% |
| S&P GLOBAL INC | — | $2.54M | 5.52% |
| SCHWAB CHARLES CORP | — | $2.04M | 4.44% |
| LPL FINL HLDGS INC | — | $1.86M | 4.05% |
| MERCADOLIBRE INC | — | $1.67M | 3.65% |
| INTERACTIVE BROKERS GROUP INC | — | $1.63M | 3.55% |
| KKR & CO INC | — | $1.62M | 3.54% |
| TRADEWEB MARKETS INC A | — | $1.61M | 3.51% |
| CME GROUP INC CL A | — | $1.59M | 3.47% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Baron FinTech Fund · BFIUX, BFINX, BFIIX | 81% | 0.95% |
| Gabelli Financial Services Opportunities ETF · GABF | 36% | 0.32% |
| Select Brokerage and Investment Management Portfolio · FSLBX | 35% | 0.69% |
Advisers
| Firm | Role |
|---|---|
| BAMCO, Inc. | Adviser |
Footnotes
- Expense ratio as of March 4, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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