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Baron Financials ETF

Symbol BCFNCUSIP: 06829D404
Symbol BCFNCUSIP: 06829D404
SCT
Sector

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$20.87

Daily Change $0.11 (0.51%)
As of 03/13/2026

Market Price

$20.87

Daily Change $0.12 (0.56%)
As of 03/13/2026

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 03/13/2026

As of 03/13/2026Daily Change ($)Daily Change (%)MTDQTDYTD
NAV$20.87$0.110.51%-4.47%-16.04%-16.04%
Market Price$20.87$0.120.56%-4.54%-16.17%N/A
NAV
As of 03/13/2026$20.87
Daily Change ($)$0.11
Daily Change (%)0.51%
MTD-4.47%
QTD-16.04%
YTD-16.04%
Market Price
As of 03/13/2026$20.87
Daily Change ($)$0.12
Daily Change (%)0.56%
MTD-4.54%
QTD-16.17%
YTDN/A
Download Historical Prices

Trading CharacteristicsAs of 03/13/2026

Baron Financials ETF
52-week High/Low$25.57/20.76
30 Day Average Trading Volume5,346
Volume (previous close)52
Premium / Discount-$0.00
Premium / Discount %-0.01%
30 Day Median Bid-Ask SpreadN/A
52-week High/Low
Baron Financials ETF$25.57/20.76
30 Day Average Trading Volume
Baron Financials ETF5,346
Volume (previous close)
Baron Financials ETF52
Premium / Discount
Baron Financials ETF-$0.00
Premium / Discount %
Baron Financials ETF-0.01%
30 Day Median Bid-Ask Spread
Baron Financials ETFN/A

PerformanceAs of 02/28/2026

Portfolio or IndexQTD1YTD11 Year3 Years5 YearsSince Inception 12/31/2019
NAV-12.11%-12.11%-14.53%9.53%1.47%7.64%
Market Price-12.18%-12.18%-14.48%9.55%1.20%7.41%
MSCI USA Financials Index-6.50%-6.50%0.26%15.22%11.64%10.42%
S&P 500 Index0.68%0.68%16.99%21.80%14.19%14.77%
MSCI ACWI Index4.29%4.29%24.19%20.73%11.72%12.44%
FactSet Global FinTech Index-12.68%-12.68%-13.10%2.50%-6.18%0.25%

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 03/13/2026

Previous Year
2025		Current Year
Q4		Q3Q2Q1
Days at Discount00009
Days at Premium1200040
Days at Discount
Previous Year
2025		0
Current Year
Q4		0
Q30
Q20
Q19
Days at Premium
Previous Year
2025		12
Current Year
Q4		0
Q30
Q20
Q140

Historical Premium/DiscountAs of 03/13/2026

Holdings & Characteristics

HoldingsAs of 03/12/2026

Daily Holdings
Quarterly Holdings
Download Daily Holdings
HoldingTickerWeight (%)Market Value ($)QuantityCUSIPISINSEDOL
VISA INC CLASS A SHARESV5.64%$2,631,609.008,58692826C839US92826C8394B2PZN04
MASTERCARD INC AMA5.59%$2,608,888.265,24657636Q104US57636Q1040B121557
S+P GLOBAL INCSPGI5.48%$2,558,071.506,09578409V104US78409V1044BYV2325
SCHWAB (CHARLES) CORPSCHW4.34%$2,025,801.7222,203808513105US80851310552779397
LPL FINANCIAL HOLDINGS INCLPLA3.92%$1,829,239.926,31650212V100US50212V1008B75JX34
CME GROUP INCCME3.68%$1,719,324.755,52512572Q105US12572Q10582965839
TRADEWEB MARKETS INC CLASS ATW3.66%$1,706,399.5013,817892672106US8926721064BJXMVK2
INTERACTIVE BROKERS GRO CL AIBKR3.57%$1,664,099.6424,86745841N107US45841N1072B1WT4X2
MERCADOLIBRE INCMELI3.56%$1,659,840.0098858733R102US58733R1023B23X1H3
MSCI INCMSCI3.40%$1,588,132.352,96155354G100US55354G1004B2972D2
INTUIT INCINTU3.39%$1,580,392.163,632461202103US46120210342459020
MOODY S CORPMCO3.32%$1,548,939.043,632615369105US61536910592252058
KKR + CO INCKKR3.23%$1,506,484.8017,96048251W104US48251W1045BG1FRR1
NU HOLDINGS LTD/CAYMAN ISL ANU3.22%$1,502,655.11107,563G6683N103KYG6683N1034BN6NP19
MORGAN STANLEYMS3.04%$1,416,653.499,177617446448US61744644862262314
APOLLO GLOBAL MANAGEMENT INCAPO2.65%$1,237,200.5012,33503769M106US03769M1062BN44JF6
VERISK ANALYTICS INCVRSK2.63%$1,227,908.646,21692345Y106US92345Y1064B4P9W92
BANK OF AMERICA CORPBAC2.59%$1,209,261.5425,658060505104US06050510462295677
GUIDEWIRE SOFTWARE INCGWRE2.53%$1,182,382.637,50140171V100US40171V1008B7JYSG3
HOULIHAN LOKEY INCHLI2.37%$1,104,273.657,895441593100US4415931009BYQ3PM7
CAPITAL ONE FINANCIAL CORPCOF2.33%$1,085,816.556,11914040H105US14040H10592654461
BLACKROCK INCBLK2.24%$1,047,491.501,13509290D101US09290D1019BMZBBT7
FAIR ISAAC CORPFICO2.20%$1,025,815.56938303250104US30325010472330299
ARCH CAPITAL GROUP LTDACGL2.09%$976,307.6410,362G0450A105BMG0450A10532740542
JACK HENRY + ASSOCIATES INCJKHY1.83%$853,490.545,131426281101US42628110152469193
WISE PLC AWISE1.79%$834,829.6270,628ACI1YXY14GB00BL9YR756BL9YR75
SHOPIFY INC CLASS ASHOP1.79%$834,362.216,61382509L107CA82509L1076BXDZ9Z0
PROGRESSIVE CORPPGR1.55%$724,695.763,532743315103US74331510392705024
ROBINHOOD MARKETS INC AHOOD1.29%$600,967.407,895770700102US7707001027BP0TQN6
PRIMERICA INCPRI1.26%$589,525.022,36774164M108US74164M1080B50K3X8
TRANSUNIONTRU1.18%$552,813.107,94589400J107US89400J1079BYMWL86
EQUIFAX INCEFX1.08%$504,319.442,764294429105US29442910512319146
KINSALE CAPITAL GROUP INCKNSL1.01%$469,332.421,29749714P108US49714P1084BD1MGQ3
SERVICETITAN INC ATTAN0.99%$462,902.356,11981764X103US81764X1037BPGN2Q7
BLOCK INCXYZ0.88%$409,895.706,843852234103US8522341036BYNZGK1
ROCKET COS INC CLASS ARKT0.80%$374,093.6425,65877311W101US77311W1018BMD6Y84
TWFG INCTWFG0.70%$328,286.7516,77587318A101US87318A1016BSF1W30
ALKAMI TECHNOLOGY INCALKT0.57%$266,279.5214,73601644J108US01644J1088BMHR7L7
ATEGRITY SPECIALTY HOLDINGSASIC0.52%$240,775.6012,18504681Y103US04681Y1038BRQQ033
BALDWIN INSURANCE GROUP INC/BWIN0.45%$209,972.9010,09005589G102US05589G1022BKTPCS7
FACTSET RESEARCH SYSTEMS INCFDS0.41%$192,809.20947303075105US30307510572329770
NEPTUNE INSURANCE HOLDI CL ANP0.33%$155,087.948,52664073B103US64073B1035BRWFZV7
ACCELERANT HOLDINGS CL AARX0.20%$95,637.608,880G00894108KYG008941083BVPDLS5
CASH AND FOREIGN CURRENCY0.78%$363,296.36
OTHER ASSETS AND LIABILITIES-NET-0.08%($37,183.17)
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 02/28/2026

Sector

Financials

79.7%

Information Technology

11.1%

Industrials

5.1%

Consumer Discretionary

3.5%

Cash & Cash Equivalents

0.6%

Sub-Industry

Financial Exchanges & Data19.90%
Investment Banking & Brokerage19.10%
Transaction & Payment Processing Services 15.40%
Application Software9.50%
Diversified Banks5.90%
Asset Management & Custody Banks5.70%
Property & Casualty Insurance5.30%
Research & Consulting Services5.10%
Broadline Retail 3.50%
Consumer Finance2.40%
Diversified Financial Services 2.10%
Insurance Brokers1.70%
Internet Services & Infrastructure1.60%
Life & Health Insurance1.20%
Commercial & Residential Mortgage Finance 1.00%
048121620
Financial Exchanges & Data19.90%
Investment Banking & Brokerage19.10%
Transaction & Payment Processing Services 15.40%
Application Software9.50%
Diversified Banks5.90%
Asset Management & Custody Banks5.70%
Property & Casualty Insurance5.30%
Research & Consulting Services5.10%
Broadline Retail 3.50%
Consumer Finance2.40%
Diversified Financial Services 2.10%
Insurance Brokers1.70%
Internet Services & Infrastructure1.60%
Life & Health Insurance1.20%
Commercial & Residential Mortgage Finance 1.00%
048121620

Portfolio CharacteristicsAs of 12/31/2025

DescriptionBaron Financials ETFMSCI USA Financials Index
Inception DateDecember 31, 2019
Net Assets$56.61 million
# of Issuers / % of Net Assets43 / 99.8%
As of FYE Current Expense Ratio Date12/5/2025
Management Fee0.80%
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
Annual Financial Statements and Other Important Information