SYLD also uses an equal-weight approach that results in no individual holding receiving a weight above 1.19%. Top-10 holdings include Boston Scientifc (NYSE: BSX), State Street (NYSE: STT) and Dow component American Express (NYSE: AXP).
Eric Richardson, Cambria’s Chief Executive Officer, will co-manage the new ETF along with Faber.
“While the high yield ETF space has become crowded, we hope SYLD will disrupt the market and open the eyes of investors to a more holistic approach to income investing,” Richardson said in an interview with ETF Trends last month.
SYLD charges an annual expense ratio of 0.59%, which is decent in the world of actively managed ETFs.
ETF Trends editorial team contributed to this report.