Baron Financials ETF
Symbol BCFNCUSIP: 06829D404
SCT
SectorNav
$21.10
Daily Change -$0.86 (-3.91%)
As of 02/23/2026
As of 02/23/2026
Market Price
$21.11
Daily Change -$0.86 (-3.93%)
As of 02/23/2026
As of 02/23/2026
Net Assets
$56.61 M
As of 12/31/2025
Morningstar Medalist Rating™
BRONZE
Inception date
12/31/2019
Prices & Performance
PricesAs of 02/23/2026
| As of 02/23/2026 | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD | |
|---|---|---|---|---|---|---|
| NAV | $21.10 | -$0.86 | -3.91% | -11.23% | -15.14% | -15.14% |
| Market Price | $21.11 | -$0.86 | -3.93% | -11.26% | -15.22% | N/A |
| NAV | |
| As of 02/23/2026 | $21.10 |
| Daily Change ($) | -$0.86 |
| Daily Change (%) | -3.91% |
| MTD | -11.23% |
| QTD | -15.14% |
| YTD | -15.14% |
| Market Price | |
| As of 02/23/2026 | $21.11 |
| Daily Change ($) | -$0.86 |
| Daily Change (%) | -3.93% |
| MTD | -11.26% |
| QTD | -15.22% |
| YTD | N/A |
Trading CharacteristicsAs of 02/23/2026
| Baron Financials ETF | |
|---|---|
| 52-week High/Low | $25.57/21.11 |
| 30 Day Average Trading Volume | 3,055 |
| Volume (previous close) | 1,308 |
| Premium / Discount | $0.01 |
| Premium / Discount % | 0.05% |
| 30 Day Median Bid-Ask Spread | 0.21% |
| 52-week High/Low | |
| Baron Financials ETF | $25.57/21.11 |
| 30 Day Average Trading Volume | |
| Baron Financials ETF | 3,055 |
| Volume (previous close) | |
| Baron Financials ETF | 1,308 |
| Premium / Discount | |
| Baron Financials ETF | $0.01 |
| Premium / Discount % | |
| Baron Financials ETF | 0.05% |
| 30 Day Median Bid-Ask Spread | |
| Baron Financials ETF | 0.21% |
PerformanceAs of 01/31/2026
| Portfolio or Index | QTD1 | YTD1 | 1 Year | 3 Years | 5 Years | Since Inception 12/31/2019 |
|---|---|---|---|---|---|---|
| NAV | -4.40% | -4.40% | -8.99% | 11.42% | 4.31% | 9.25% |
| Market Price | -4.46% | -4.46% | -8.92% | 11.46% | 4.04% | 9.01% |
| MSCI USA Financials Index | -2.49% | -2.49% | 5.18% | 15.91% | 15.03% | 11.33% |
| S&P 500 Index | 1.45% | 1.45% | 16.35% | 21.11% | 14.99% | 15.13% |
| MSCI ACWI Index | 2.96% | 2.96% | 21.87% | 19.06% | 11.95% | 12.38% |
| FactSet Global FinTech Index | -5.68% | -5.68% | -10.61% | 3.72% | -3.72% | 1.53% |
Performance InformationAs of 12/31/2025
| Performance statistics | 3 Years | 5 Years | Since Inception |
|---|---|---|---|
| Standard Deviation (%) | 15.54 | 19.71 | 21.35 |
| Sharpe Ratio | 0.74 | 0.04 | 0.34 |
| Alpha (%) | 0.63 | -7.17 | 1.33 |
| Beta | 0.81 | 0.83 | 0.78 |
| R-Squared (%) | 74.63 | 63.18 | 63.21 |
| Tracking Error (%) | 8.40 | 12.37 | 13.85 |
| Information Ratio | -0.39 | -0.90 | -0.13 |
| Upside Capture (%) | 73.52 | 66.83 | 79.10 |
| Downside Capture (%) | 61.93 | 95.27 | 76.92 |
Source: FactSet SPAR. Except for Standard Deviation and Sharpe Ratio, the performance based characteristics above were calculated relative to the Fund's benchmark.
Performance characteristics are calculated using the returns of the institutional shares of the predecessor mutual fund prior to the ETF’s commencement of operations.
Performance characteristics are calculated using the returns of the institutional shares of the predecessor mutual fund prior to the ETF’s commencement of operations.
Premium/DiscountAs of 02/23/2026
| Previous Year 2025 | Current Year Q4 | Q3 | Q2 | Q1 | |
|---|---|---|---|---|---|
| Days at Discount | 0 | 0 | 0 | 0 | 1 |
| Days at Premium | 12 | 0 | 0 | 0 | 34 |
| Days at Discount | |
| Previous Year 2025 | 0 |
| Current Year Q4 | 0 |
| Q3 | 0 |
| Q2 | 0 |
| Q1 | 1 |
| Days at Premium | |
| Previous Year 2025 | 12 |
| Current Year Q4 | 0 |
| Q3 | 0 |
| Q2 | 0 |
| Q1 | 34 |
Historical Premium/DiscountAs of 02/23/2026
Holdings & Characteristics
HoldingsAs of 02/20/2026
| Holding | Ticker | Weight (%) | Market Value ($) | Quantity | CUSIP | ISIN | SEDOL |
|---|---|---|---|---|---|---|---|
| MASTERCARD INC A | MA | 5.60% | $2,797,869.15 | 5,315 | 57636Q104 | US57636Q1040 | B121557 |
| VISA INC CLASS A SHARES | V | 5.58% | $2,792,265.00 | 8,700 | 92826C839 | US92826C8394 | B2PZN04 |
| S+P GLOBAL INC | SPGI | 5.16% | $2,578,356.48 | 6,176 | 78409V104 | US78409V1044 | BYV2325 |
| INTERACTIVE BROKERS GRO CL A | IBKR | 4.27% | $2,135,136.50 | 28,700 | 45841N107 | US45841N1072 | B1WT4X2 |
| SCHWAB (CHARLES) CORP | SCHW | 4.14% | $2,068,660.00 | 22,000 | 808513105 | US8085131055 | 2779397 |
| LPL FINANCIAL HOLDINGS INC | LPLA | 4.09% | $2,043,008.00 | 6,400 | 50212V100 | US50212V1008 | B75JX34 |
| NU HOLDINGS LTD/CAYMAN ISL A | NU | 4.03% | $2,015,950.00 | 115,000 | G6683N103 | KYG6683N1034 | BN6NP19 |
| MERCADOLIBRE INC | MELI | 3.99% | $1,996,870.00 | 1,000 | 58733R102 | US58733R1023 | B23X1H3 |
| KKR + CO INC | KKR | 3.68% | $1,841,476.00 | 18,200 | 48251W104 | US48251W1045 | BG1FRR1 |
| CME GROUP INC | CME | 3.45% | $1,725,304.00 | 5,600 | 12572Q105 | US12572Q1058 | 2965839 |
| TRADEWEB MARKETS INC CLASS A | TW | 3.34% | $1,672,580.00 | 14,000 | 892672106 | US8926721064 | BJXMVK2 |
| MOODY S CORP | MCO | 3.30% | $1,647,977.60 | 3,680 | 615369105 | US6153691059 | 2252058 |
| MSCI INC | MSCI | 3.21% | $1,602,948.06 | 2,946 | 55354G100 | US55354G1004 | B2972D2 |
| MORGAN STANLEY | MS | 3.16% | $1,578,690.00 | 9,000 | 617446448 | US6174464486 | 2262314 |
| APOLLO GLOBAL MANAGEMENT INC | APO | 2.87% | $1,436,640.00 | 12,000 | 03769M106 | US03769M1062 | BN44JF6 |
| INTUIT INC | INTU | 2.80% | $1,400,424.00 | 3,680 | 461202103 | US4612021034 | 2459020 |
| HOULIHAN LOKEY INC | HLI | 2.68% | $1,342,560.00 | 8,000 | 441593100 | US4415931009 | BYQ3PM7 |
| BANK OF AMERICA CORP | BAC | 2.65% | $1,326,500.00 | 25,000 | 060505104 | US0605051046 | 2295677 |
| FAIR ISAAC CORP | FICO | 2.57% | $1,282,927.50 | 950 | 303250104 | US3032501047 | 2330299 |
| BLACKROCK INC | BLK | 2.52% | $1,257,686.00 | 1,150 | 09290D101 | US09290D1019 | BMZBBT7 |
| CAPITAL ONE FINANCIAL CORP | COF | 2.50% | $1,250,520.00 | 6,000 | 14040H105 | US14040H1059 | 2654461 |
| VERISK ANALYTICS INC | VRSK | 2.19% | $1,095,000.00 | 6,000 | 92345Y106 | US92345Y1064 | B4P9W92 |
| ARCH CAPITAL GROUP LTD | ACGL | 2.07% | $1,034,145.00 | 10,500 | G0450A105 | BMG0450A1053 | 2740542 |
| GUIDEWIRE SOFTWARE INC | GWRE | 1.94% | $970,216.00 | 7,600 | 40171V100 | US40171V1008 | B7JYSG3 |
| SHOPIFY INC CLASS A | SHOP | 1.69% | $845,540.00 | 6,700 | 82509L107 | CA82509L1076 | BXDZ9Z0 |
| WISE PLC A | WISE | 1.67% | $832,663.94 | 71,570 | ACI1YXY14 | GB00BL9YR756 | BL9YR75 |
| JACK HENRY + ASSOCIATES INC | JKHY | 1.66% | $827,788.00 | 5,200 | 426281101 | US4262811015 | 2469193 |
| PROGRESSIVE CORP | PGR | 1.46% | $730,606.40 | 3,580 | 743315103 | US7433151039 | 2705024 |
| PRIMERICA INC | PRI | 1.25% | $624,048.00 | 2,400 | 74164M108 | US74164M1080 | B50K3X8 |
| TRANSUNION | TRU | 1.23% | $613,410.00 | 8,050 | 89400J107 | US89400J1079 | BYMWL86 |
| ROBINHOOD MARKETS INC A | HOOD | 1.22% | $608,880.00 | 8,000 | 770700102 | US7707001027 | BP0TQN6 |
| EQUIFAX INC | EFX | 1.11% | $552,888.00 | 2,800 | 294429105 | US2944291051 | 2319146 |
| KINSALE CAPITAL GROUP INC | KNSL | 0.98% | $491,034.15 | 1,315 | 49714P108 | US49714P1084 | BD1MGQ3 |
| ROCKET COS INC CLASS A | RKT | 0.93% | $467,480.00 | 26,000 | 77311W101 | US77311W1018 | BMD6Y84 |
| SERVICETITAN INC A | TTAN | 0.83% | $412,548.00 | 6,200 | 81764X103 | US81764X1037 | BPGN2Q7 |
| BLOCK INC | XYZ | 0.74% | $368,974.26 | 6,933 | 852234103 | US8522341036 | BYNZGK1 |
| ALKAMI TECHNOLOGY INC | ALKT | 0.68% | $340,600.00 | 20,000 | 01644J108 | US01644J1088 | BMHR7L7 |
| ATEGRITY SPECIALTY HOLDINGS | ASIC | 0.57% | $287,462.70 | 13,290 | 04681Y103 | US04681Y1038 | BRQQ033 |
| TWFG INC | TWFG | 0.54% | $268,669.20 | 15,335 | 87318A101 | US87318A1016 | BSF1W30 |
| FACTSET RESEARCH SYSTEMS INC | FDS | 0.37% | $187,052.95 | 959 | 303075105 | US3030751057 | 2329770 |
| NEPTUNE INSURANCE HOLDI CL A | NP | 0.37% | $183,513.60 | 8,640 | 64073B103 | US64073B1035 | BRWFZV7 |
| BALDWIN INSURANCE GROUP INC/ | BWIN | 0.34% | $169,019.25 | 10,225 | 05589G102 | US05589G1022 | BKTPCS7 |
| ACCELERANT HOLDINGS CL A | ARX | 0.18% | $92,340.00 | 9,000 | G00894108 | KYG008941083 | BVPDLS5 |
| CASH AND FOREIGN CURRENCY | 0.52% | $257,673.06 | |||||
| OTHER ASSETS AND LIABILITIES-NET | -0.11% | ($53,315.23) |
| Holding | Sector | % of Net Assets |
|---|---|---|
S&P Global Inc. | Financials | 5.7% |
Mastercard Incorporated | Financials | 5.4% |
Visa Inc. | Financials | 5.4% |
LPL Financial Holdings Inc. | Financials | 4.3% |
Intuit Inc. | Information Technology | 4.3% |
KKR & Co. Inc. | Financials | 4.1% |
MercadoLibre, Inc. | Consumer Discretionary | 3.9% |
The Charles Schwab Corporation | Financials | 3.8% |
Fair Isaac Corporation | Information Technology | 3.5% |
Nu Holdings Ltd. | Financials | 3.5% |
Interactive Brokers Group, Inc. | Financials | 3.3% |
Apollo Global Management, Inc. | Financials | 3.3% |
Moody's Corporation | Financials | 3.3% |
Robinhood Markets, Inc. | Financials | 3.2% |
Guidewire Software, Inc. | Information Technology | 3.1% |
MSCI Inc. | Financials | 3.0% |
CME Group, Inc. Cl - A | Financials | 2.7% |
Capital One Financial Corporation | Financials | 2.6% |
Tradeweb Markets Inc. | Financials | 2.5% |
Houlihan Lokey, Inc. | Financials | 2.5% |
Verisk Analytics, Inc. | Industrials | 2.4% |
Morgan Stanley | Financials | 2.1% |
BlackRock Inc. | Financials | 2.0% |
Shopify Inc. | Information Technology | 2.0% |
Arch Capital Group Ltd. | Financials | 1.9% |
Jack Henry & Associates, Inc. | Financials | 1.6% |
Wise plc | Financials | 1.5% |
The Progressive Corporation | Financials | 1.4% |
ServiceTitan, Inc. | Information Technology | 1.3% |
TransUnion | Industrials | 1.2% |
Primerica, Inc. | Financials | 1.1% |
Equifax Inc. | Industrials | 1.1% |
Kinsale Capital Group, Inc. | Financials | 0.9% |
Clearwater Analytics Holdings, Inc. | Information Technology | 0.9% |
TWFG, Inc. | Financials | 0.8% |
Alkami Technology Inc. | Information Technology | 0.8% |
Block, Inc. | Financials | 0.8% |
FactSet Research Systems Inc. | Financials | 0.5% |
Morningstar, Inc. | Financials | 0.5% |
Ategrity Specialty Insurance Company Holdings | Financials | 0.5% |
Neptune Insurance Holdings Inc. | Financials | 0.4% |
The Baldwin Insurance Group, Inc. | Financials | 0.4% |
Accelerant Holdings | Financials | 0.3% |
Contributors / DetractorsQuarterly as of 12/31/2025
| Top Contributors | Average Weight | Contribution |
|---|---|---|
| Fair Isaac Corporation | 3.41% | 0.37% |
| S&P Global Inc. | 4.99% | 0.36% |
| Jack Henry & Associates, Inc. | 1.44% | 0.29% |
| Apollo Global Management, Inc. | 2.97% | 0.26% |
| Clearwater Analytics Holdings, Inc. | 0.82% | 0.26% |
Source: FactSet PA.
GICS Sector BreakdownAs of 01/31/2026
Sector
Financials
78.7%
Information Technology
12.1%
Industrials
4.6%
Consumer Discretionary
4.4%
Cash & Cash Equivalents
0.2%
Sub-Industry
Investment Banking & Brokerage21.00%
Financial Exchanges & Data19.20%
Transaction & Payment Processing Services 14.70%
Application Software10.50%
Asset Management & Custody Banks6.20%
Research & Consulting Services4.60%
Property & Casualty Insurance4.60%
Broadline Retail 4.40%
Diversified Banks3.90%
Diversified Financial Services 3.00%
Consumer Finance2.40%
Insurance Brokers1.80%
Internet Services & Infrastructure1.60%
Life & Health Insurance1.20%
Commercial & Residential Mortgage Finance 0.90%
036912151821
Investment Banking & Brokerage21.00%
Financial Exchanges & Data19.20%
Transaction & Payment Processing Services 14.70%
Application Software10.50%
Asset Management & Custody Banks6.20%
Research & Consulting Services4.60%
Property & Casualty Insurance4.60%
Broadline Retail 4.40%
Diversified Banks3.90%
Diversified Financial Services 3.00%
Consumer Finance2.40%
Insurance Brokers1.80%
Internet Services & Infrastructure1.60%
Life & Health Insurance1.20%
Commercial & Residential Mortgage Finance 0.90%
036912151821
Portfolio CharacteristicsAs of 12/31/2025
| Description | Baron Financials ETF | MSCI USA Financials Index |
|---|---|---|
| Inception Date | December 31, 2019 | |
| Net Assets | $56.61 million | |
| # of Issuers / % of Net Assets | 43 / 99.8% | |
| As of FYE Current Expense Ratio Date | 12/5/2025 | |
| Management Fee | 0.80% | |
| Estimated Ratio of Total Expenses | 0.80% |
The Net Assets include all share classes combined.
Price/Book Ratio and Price/Sales Ratio are calculated using the Weighted Harmonic Average. Source: FactSet PA. Internal valuation metrics may differ.
Price/Book Ratio and Price/Sales Ratio are calculated using the Weighted Harmonic Average. Source: FactSet PA. Internal valuation metrics may differ.