Cambria Shareholder Yield ETF (SYLD)
Cambria's Shareholder Yield ETFs SYLD, FYLD and EYLD Each Pass 10 Years of Live Performance with Top Decile Performance
MANHATTAN BEACH, Calif.--(BUSINESS WIRE)--Cambria Investment Management today marked the 10-year anniversary of the Cambria Emerging Shareholder Yield ETF (EYLD).
SYLD: A Deep Value ETF With A Distinct Sector Mix
Cambria Shareholder Yield ETF (SYLD) employs a shareholder yield strategy, emphasizing dividends, buybacks, and debt paydown, resulting in deep value exposure. SYLD is overweight energy, consumer discretionary, and financials, but underweight technology, industrials, and real estate, leading to modest growth and profitability metrics. At a 10.9x P/E, SYLD trades at a significant discount to the S&P MidCap 400 and peers, but its growth (-3.2% earnings, 0.5% sales) and profitability (12.5% ROE) lag benchmarks.
SYLD: Diversified Mid-Cap Value ETF Outperforming Competitors
The Cambria Shareholder Yield ETF targets U.S. stocks with high shareholder yield, combining dividends, buybacks, and debt paydowns using a quantitative approach. SYLD's portfolio is diversified across 99 small- and mid-cap stocks, with notable exposure in financials, consumer discretionary, energy, and materials, and strong value characteristics. SYLD has outperformed the S&P MidCap 400 benchmark since 2013 and several peer ETFs since 2017, though with higher volatility and a relatively high 0.59% expense ratio.
SYLD: Should You Buy The Dip After A Disappointing Year?
SYLD is one of Cambria's Total Shareholder Yield ETFs, offering exposure to 100 companies with high combinations of dividends, buybacks, and debt retirement. Its expense ratio is 0.59%. SYLD was one of the worst-performing funds over the last year, and my fundamental analysis reveals the likely source is its substantial exposure to the size and value factors. In contrast, its growth rates are extremely poor, and with S&P 500 Index sales and earnings surprises still solid, this lack of exposure to the growth factor matters.
SYLD: Losing Steam For 12 Months, But Strong Value Characteristics
Cambria Shareholder Yield ETF holds 100 stocks with high shareholder yield, a factor combining dividends, buybacks and debt reduction. SYLD is focused on small and mid-caps, with significant exposure in consumer discretionary and financials. SYLD has strong value characteristics and has outperformed a mid-cap benchmark since inception, even though it has lagged for 12 months.
SYLD: A Fund To Hold For The Coming Decade
The Cambria Shareholder Yield ETF is recommended for the next decade due to its focus on high shareholder yield through dividends, buybacks, and debt reduction. Shareholder Yield prevents inefficient use of free cash flows by management, offering a compelling long-term investment case with higher returns and lower drawdowns. SYLD is well-positioned for valuation compression with a lower PE ratio and better value metrics compared to the S&P 500 and mid-cap value category.
SYLD: Bad Timing For Cambria's Deep Value Shareholder Yield ETF
Cambria Shareholder Yield ETF is an actively managed fund selecting 100 securities from a universe of approximately 3,000 U.S. securities based on their shareholder yield, value, quality, and momentum characteristics. Since its strategy change on June 1, 2020, the SYLD ETF has delivered an outstanding 147% total return, trouncing peers like VFVA and FMDE. However, its recent results aren't very impressive. The reason is that SYLD is a niche product, likely best suited to periods of economic recovery, like the period immediately following the Q1 2020 pandemic crash.
SYLD: A Winner Amid Sector Rotation
SYLD has rallied so far in 2024 but has also underperformed the S&P 500 in 2024 amid relative weakness in areas away from megacap tech. The betting market predicts an 80% chance of a Fed rate cut in September, and lower interest rates could help companies with high total shareholder yields. SYLD remains a compelling value with the potential for equity market rotation favoring the total shareholder yield factor, and I point out key price levels on the chart to monitor.
3,436 Shares in Cambria Shareholder Yield ETF (BATS:SYLD) Bought by Meridian Wealth Management LLC
Meridian Wealth Management LLC purchased a new stake in shares of Cambria Shareholder Yield ETF (BATS:SYLD – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,436 shares of the company’s stock, valued at approximately $232,000. A number of other institutional investors have also bought and sold shares of the company. Park Avenue Securities LLC bought a new stake in Cambria Shareholder Yield ETF in the third quarter worth approximately $217,000. Private Advisor Group LLC boosted its stake in Cambria Shareholder Yield ETF by 32.8% during the third quarter. Private Advisor Group LLC now owns 48,875 shares of the company’s stock worth $3,023,000 after acquiring an additional 12,068 shares in the last quarter. MGO One Seven LLC raised its holdings in shares of Cambria Shareholder Yield ETF by 35.5% during the third quarter. MGO One Seven LLC now owns 40,630 shares of the company’s stock valued at $2,513,000 after purchasing an additional 10,645 shares during the period. MONECO Advisors LLC boosted its position in shares of Cambria Shareholder Yield ETF by 13.0% during the 3rd quarter. MONECO Advisors LLC now owns 74,449 shares of the company’s stock worth $4,605,000 after purchasing an additional 8,555 shares in the last quarter. Finally, Breakwater Capital Group grew its stake in shares of Cambria Shareholder Yield ETF by 18.8% in the 3rd quarter. Breakwater Capital Group now owns 88,958 shares of the company’s stock valued at $5,292,000 after buying an additional 14,055 shares during the period. Cambria Shareholder Yield ETF Price Performance Shares of Cambria Shareholder Yield ETF stock opened at $70.51 on Monday. The company has a 50 day moving average price of $70.81 and a 200-day moving average price of $67.63. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 7.91 and a beta of 0.89. Cambria Shareholder Yield ETF Company Profile (Free Report) The Cambria Shareholder Yield ETF (SYLD) is an exchange-traded fund that mostly invests in total market equity. The fund offers active exposure to US stocks with attractive cash flow characterized by dividends, shares buybacks and net debt paydown. SYLD was launched on May 14, 2013 and is managed by Cambria.
SYLD: A Value ETF Showing Earnings Growth
Cambria Shareholder Yield ETF implements a systematic strategy based on dividends, buybacks, debt paydowns and value. The SYLD ETF current portfolio is focused on small and mid-caps, and it is well-diversified across 5 major sectors and 99 companies.
SYLD: Shareholder Yield Provides Outsized Total Return Opportunity
Cambria Shareholder Yield ETF focuses on high-cash distribution companies returning cash to investors through dividends, buybacks, and debt paydown. SYLD targets an equal-weight portfolio of around 100 companies, historically trading at a discount. The strategy considers dividend payments, net share repurchases, and net debt paydown to select companies with strong free cash flow characteristics.
SYLD: A Value-Focused Strategy Worth Sticking With
SYLD is a buy-rated ETF that focuses on companies returning cash to shareholders through dividends, buybacks, and net debt reduction. Global corporate buyback announcements have fallen dramatically, but actual share repurchase activity has increased. SYLD is a value fund with significant exposure to the Energy and Financials sectors, and its technical situation suggests a 'hold' call.
SYLD: Attractive Valuation And Quality
Cambria Shareholder Yield ETF is an actively managed fund that focuses on shareholder yield and value metrics. The SYLD fund's portfolio consists of 100 stocks, with a significant allocation to energy, materials, and financials sectors. SYLD has outperformed value ETFs in both small and large caps over the past 10 years and in 2023, making it attractive for value investors.
SYLD: #1 For Now, But This Shareholder Yield Fund Looks Vulnerable
In June 2020, SYLD switched to an actively-managed fund, and has since become the top-performing ETF with a total market focus, delivering a 117% total return vs. 54% for SPY. SYLD's shareholder yield-focused portfolio currently results in high concentrations of commodity-linked stocks in the Energy and Materials sectors. It's a bet that inflation will run higher for longer. However, I'm not willing to take that bet today. SYLD performance ranks just #76/108 YTD, and it's currently a highly-volatile ETF with a 1.39 five-year beta.
Why SYLD Has No Place In Your Portfolio
The bull market of 2023 has created winners and losers, and investors should focus on areas that can take advantage of the bull market. Cambria Shareholder Yield ETF focuses on companies with strong free cash flow and returns capital to shareholders through dividends, debt pay down, and share repurchases. The SYLD ETF is expensive to own, underperforming the market, and lacks growth prospects, making it unsuitable for investors' portfolios.
ETF Prime: Hype Cycle Topics, SYLD & ETFs for Market Conditions
On this episode of ETF Prime, host Nate Geraci speaks with a trio of industry experts to discuss key stories and trends. He begins with Dave Nadig from VettaFi, exploring significant and hype cycle topics that have shaped the industry in the last several years.
Harnessing The Benefits Of Total Shareholder Yield With SYLD
Harnessing The Benefits Of Total Shareholder Yield With SYLD
SYLD Vs. SPY: Slightly Better Return Offset By Greater Risk
SYLD Vs. SPY: Slightly Better Return Offset By Greater Risk
SYLD: High Cyclical Exposure May Underperform In A Recession
The Cambria Shareholder Yield ETF provides exposure to companies that exhibit high shareholder yields and value characteristics. The fund is very overweight cyclical sectors such as Consumer Discretionary, Energy, Materials, and Financials. In total, cyclical sectors account for 86.8% of the fund.
SYLD: Strong Shareholder Yield ETF, Cheap Valuation, Market-Beating Returns
SYLD invests in U.S. equities with above-average shareholder yields. The fund sports a cheap valuation, and has outperformed since inception.