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Baron Financials ETF

Symbol BCFNCUSIP: 06829D404
SCT
Sector

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$24.36

Daily Change $0.04 (0.18%)
As of 01/26/2026

Market Price

$24.41

Daily Change $0.07 (0.27%)
As of 01/26/2026

Net Assets

$56.61 M

As of 12/31/2025

Morningstar Medalist Rating™

medal Logo

BRONZE

Inception date

12/31/2019

Prices & Performance

PricesAs of 01/26/2026

As of 01/26/2026Daily Change ($)Daily Change (%)MTDQTDYTD
NAV$24.36$0.040.18%-2.02%-2.02%-2.02%
Market Price$24.41$0.070.27%-1.98%-1.98%N/A
NAV
As of 01/26/2026$24.36
Daily Change ($)$0.04
Daily Change (%)0.18%
MTD-2.02%
QTD-2.02%
YTD-2.02%
Market Price
As of 01/26/2026$24.41
Daily Change ($)$0.07
Daily Change (%)0.27%
MTD-1.98%
QTD-1.98%
YTDN/A
Download Historical Prices

Trading CharacteristicsAs of 01/26/2026

Baron Financials ETF
52-week High/Low$25.57/23.39
30 Day Average Trading VolumeN/A
Volume (previous close)1,506
Premium / Discount$0.05
Premium / Discount %0.18%
30 Day Median Bid-Ask Spread0.20%
52-week High/Low
Baron Financials ETF$25.57/23.39
30 Day Average Trading Volume
Baron Financials ETFN/A
Volume (previous close)
Baron Financials ETF1,506
Premium / Discount
Baron Financials ETF$0.05
Premium / Discount %
Baron Financials ETF0.18%
30 Day Median Bid-Ask Spread
Baron Financials ETF0.20%

PerformanceAs of 12/31/2025

Portfolio or IndexQTD1YTD11 Year3 Years5 YearsSince Inception 12/31/2019
NAV-2.22%0.91%0.91%16.52%4.01%10.21%
Market Price-2.07%1.06%1.06%16.57%3.75%9.98%
MSCI USA Financials Index2.07%15.23%15.23%19.82%15.17%11.97%
S&P 500 Index2.66%17.88%17.88%23.01%14.42%15.08%
MSCI ACWI Index3.29%22.34%22.34%20.65%11.19%12.02%
FactSet Global FinTech Index-7.19%-4.16%-4.16%10.55%-2.90%2.55%

Performance InformationAs of 12/31/2025

Performance statistics3 Years5 YearsSince Inception
Standard Deviation (%)15.5419.7121.35
Sharpe Ratio0.740.040.34
Alpha (%)0.63-7.171.33
Beta0.810.830.78
R-Squared (%)74.6363.1863.21
Tracking Error (%)8.4012.3713.85
Information Ratio-0.39-0.90-0.13
Upside Capture (%)73.5266.8379.10
Downside Capture (%)61.9395.2776.92
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. 

Premium/DiscountAs of 01/26/2026

Previous Year
2025		Current Year
Q4		Q3Q2Q1
Days at Discount00001
Days at Premium1200015
Days at Discount
Previous Year
2025		0
Current Year
Q4		0
Q30
Q20
Q11
Days at Premium
Previous Year
2025		12
Current Year
Q4		0
Q30
Q20
Q115

Historical Premium/DiscountAs of 01/26/2026

Holdings & Characteristics

HoldingsAs of 01/26/2026

Daily Holdings
Quarterly Holdings
Download Daily Holdings
HoldingTickerWeight (%)Market Value ($)QuantityCUSIPISINSEDOL
S+P GLOBAL INCSPGI5.96%$3,305,580.486,17678409V104US78409V1044BYV2325
VISA INC CLASS A SHARESV5.15%$2,857,863.008,70092826C839US92826C8394B2PZN04
MASTERCARD INC AMA5.05%$2,802,918.405,31557636Q104US57636Q1040B121557
MERCADOLIBRE INCMELI4.39%$2,433,882.001,10058733R102US58733R1023B23X1H3
LPL FINANCIAL HOLDINGS INCLPLA4.14%$2,297,536.006,40050212V100US50212V1008B75JX34
SCHWAB (CHARLES) CORPSCHW4.08%$2,264,680.0022,000808513105US80851310552779397
INTERACTIVE BROKERS GRO CL AIBKR4.00%$2,220,338.4529,46745841N107US45841N1072B1WT4X2
KKR + CO INCKKR3.89%$2,159,430.0018,20048251W104US48251W1045BG1FRR1
NU HOLDINGS LTD/CAYMAN ISL ANU3.86%$2,141,749.44117,808G6683N103KYG6683N1034BN6NP19
INTUIT INCINTU3.73%$2,067,313.603,680461202103US46120210342459020
MOODY S CORPMCO3.49%$1,933,545.603,680615369105US61536910592252058
MSCI INCMSCI3.16%$1,750,395.362,94655354G100US55354G1004B2972D2
MORGAN STANLEYMS3.02%$1,673,296.009,200617446448US61744644862262314
ROBINHOOD MARKETS INC AHOOD2.89%$1,605,000.0015,000770700102US7707001027BP0TQN6
CME GROUP INCCME2.87%$1,590,680.005,60012572Q105US12572Q10582965839
APOLLO GLOBAL MANAGEMENT INCAPO2.85%$1,578,720.0012,00003769M106US03769M1062BN44JF6
HOULIHAN LOKEY INCHLI2.72%$1,510,563.608,268441593100US4415931009BYQ3PM7
FAIR ISAAC CORPFICO2.66%$1,473,203.00950303250104US30325010472330299
TRADEWEB MARKETS INC CLASS ATW2.48%$1,378,060.0612,959892672106US8926721064BJXMVK2
VERISK ANALYTICS INCVRSK2.38%$1,318,440.006,00092345Y106US92345Y1064B4P9W92
BLACKROCK INCBLK2.33%$1,289,771.001,15009290D101US09290D1019BMZBBT7
CAPITAL ONE FINANCIAL CORPCOF2.30%$1,277,044.005,80014040H105US14040H10592654461
GUIDEWIRE SOFTWARE INCGWRE2.22%$1,230,364.007,60040171V100US40171V1008B7JYSG3
ARCH CAPITAL GROUP LTDACGL1.77%$983,850.0010,500G0450A105BMG0450A10532740542
JACK HENRY + ASSOCIATES INCJKHY1.71%$951,288.005,200426281101US42628110152469193
WISE PLC AWISE1.68%$931,204.9071,570ACI1YXY14GB00BL9YR756BL9YR75
SHOPIFY INC CLASS ASHOP1.65%$913,277.006,70082509L107CA82509L1076BXDZ9Z0
PROGRESSIVE CORPPGR1.34%$744,640.003,580743315103US74331510392705024
TRANSUNIONTRU1.23%$684,411.008,05089400J107US89400J1079BYMWL86
PRIMERICA INCPRI1.11%$616,224.002,40074164M108US74164M1080B50K3X8
EQUIFAX INCEFX1.08%$600,572.002,800294429105US29442910512319146
SERVICETITAN INC ATTAN1.05%$584,970.006,20081764X103US81764X1037BPGN2Q7
ROCKET COS INC CLASS ARKT0.99%$551,460.0026,00077311W101US77311W1018BMD6Y84
KINSALE CAPITAL GROUP INCKNSL0.95%$529,156.001,31549714P108US49714P1084BD1MGQ3
CLEARWATER ANALYTICS HDS ACWAN0.83%$458,470.0019,000185123106US1851231068BNZJHY5
BLOCK INCXYZ0.82%$456,884.706,933852234103US8522341036BYNZGK1
ALKAMI TECHNOLOGY INCALKT0.77%$427,200.0020,00001644J108US01644J1088BMHR7L7
TWFG INCTWFG0.74%$412,204.8015,33587318A101US87318A1016BSF1W30
FACTSET RESEARCH SYSTEMS INCFDS0.49%$274,590.47959303075105US30307510572329770
BALDWIN INSURANCE GROUP INC/BWIN0.48%$264,214.0010,22505589G102US05589G1022BKTPCS7
ATEGRITY SPECIALTY HOLDINGSASIC0.43%$236,296.2013,29004681Y103US04681Y1038BRQQ033
MORNINGSTAR INCMORN0.42%$232,364.001,100617700109US6177001095B081VR8
NEPTUNE INSURANCE HOLDI CL ANP0.40%$222,652.808,64064073B103US64073B1035BRWFZV7
ACCELERANT HOLDINGS CL AARX0.24%$130,680.009,000G00894108KYG008941083BVPDLS5
CASH AND FOREIGN CURRENCY0.37%$205,582.96
OTHER ASSETS AND LIABILITIES-NET-0.18%($99,368.44)
HoldingSector% of Net Assets
S&P Global Inc.
Financials5.7%
Mastercard Incorporated
Financials5.4%
Visa Inc.
Financials5.4%
LPL Financial Holdings Inc.
Financials4.3%
Intuit Inc.
Information Technology4.3%
KKR & Co. Inc.
Financials4.1%
MercadoLibre, Inc.
Consumer Discretionary3.9%
The Charles Schwab Corporation
Financials3.8%
Fair Isaac Corporation
Information Technology3.5%
Nu Holdings Ltd.
Financials3.5%
Interactive Brokers Group, Inc.
Financials3.3%
Apollo Global Management, Inc.
Financials3.3%
Moody's Corporation
Financials3.3%
Robinhood Markets, Inc.
Financials3.2%
Guidewire Software, Inc.
Information Technology3.1%
MSCI Inc.
Financials3.0%
CME Group, Inc. Cl - A
Financials2.7%
Capital One Financial Corporation
Financials2.6%
Tradeweb Markets Inc.
Financials2.5%
Houlihan Lokey, Inc.
Financials2.5%
Verisk Analytics, Inc.
Industrials2.4%
Morgan Stanley
Financials2.1%
BlackRock Inc.
Financials2.0%
Shopify Inc.
Information Technology2.0%
Arch Capital Group Ltd.
Financials1.9%
Jack Henry & Associates, Inc.
Financials1.6%
Wise plc
Financials1.5%
The Progressive Corporation
Financials1.4%
ServiceTitan, Inc.
Information Technology1.3%
TransUnion
Industrials1.2%
Primerica, Inc.
Financials1.1%
Equifax Inc.
Industrials1.1%
Kinsale Capital Group, Inc.
Financials0.9%
Clearwater Analytics Holdings, Inc.
Information Technology0.9%
TWFG, Inc.
Financials0.8%
Alkami Technology Inc.
Information Technology0.8%
Block, Inc.
Financials0.8%
FactSet Research Systems Inc.
Financials0.5%
Morningstar, Inc.
Financials0.5%
Ategrity Specialty Insurance Company Holdings
Financials0.5%
Neptune Insurance Holdings Inc.
Financials0.4%
The Baldwin Insurance Group, Inc.
Financials0.4%
Accelerant Holdings
Financials0.3%

Contributors / DetractorsQuarterly as of 12/31/2025

Top ContributorsAverage WeightContribution
Fair Isaac Corporation3.41%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 12/31/2025

Sector

Financials

75.3%

Information Technology

15.8%

Industrials

4.7%

Consumer Discretionary

3.9%

Cash & Cash Equivalents

0.2%

Sub-Industry

Investment Banking & Brokerage19.20%
Financial Exchanges & Data18.10%
Transaction & Payment Processing Services 14.70%
Application Software13.90%
Asset Management & Custody Banks6.10%
Research & Consulting Services4.70%
Property & Casualty Insurance4.70%
Broadline Retail 3.90%
Diversified Banks3.50%
Diversified Financial Services 3.30%
Consumer Finance2.60%
Internet Services & Infrastructure2.00%
Insurance Brokers1.90%
Life & Health Insurance1.10%
048121620
Investment Banking & Brokerage19.20%
Financial Exchanges & Data18.10%
Transaction & Payment Processing Services 14.70%
Application Software13.90%
Asset Management & Custody Banks6.10%
Research & Consulting Services4.70%
Property & Casualty Insurance4.70%
Broadline Retail 3.90%
Diversified Banks3.50%
Diversified Financial Services 3.30%
Consumer Finance2.60%
Internet Services & Infrastructure2.00%
Insurance Brokers1.90%
Life & Health Insurance1.10%
048121620

Portfolio CharacteristicsAs of 12/31/2025

DescriptionBaron Financials ETFMSCI USA Financials Index
Inception DateDecember 31, 2019
Net Assets$56.61 million
As of FYE Current Expense Ratio Date12/5/2025
Management Fee0.80%
Estimated Ratio of Total Expenses0.80%
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.

Documents

Document Name
Summary Prospectus
Prospectus
Statement of Additional Information