Cambria Tactical Yield ETF
Key Statistics
Historical Performance
Total return including reinvested distributions, from adjusted closing prices.
Price History
Price history is being compiled for this fund.
Top Holdings
Top 4 holdings as of Jan 31, 2026 · source: SEC N-PORT. Full holdings & prospectus →
About TYLD
TheFund is actively managed using a model-based approach and seeks to achieve its investment objective by investing,under normal market conditions, at least 80% of its net assets, plus borrowings for investment purposes, in fixed income securities, includingindividual bonds as well as exchange traded products and ETFs that invest primarily in bonds. Fixed income securitiesinclude, but are not limited to, the following: U.S. government securities (securities issued or guaranteed by the U.S. governmentor its agencies or instrumentalities) such as Treasury bonds, Treasury notes and T-Bills; intermediate term(i.e., two- to ten-year maturity),investment grade bonds traded in the United States that comprise the U.S. aggregate bond market; corporate bonds; high yield(or “junk”) bonds; residential and commercial mortgage-backed securities (“MBS”);Treasury Inflation-Protected Securities (TIPS); and emerging market government bonds (i.e.,sovereign debt). The Fund may invest in fixed income securities of any duration or maturity.Utilizingits own quantitative model, the Fund’s investment adviser, Cambria Investment Management, L.P. (“Cambria” or the“Adviser”), generally selects fixed income securities for inclusion in the Fund’s portfolio tactically based on acomparison of their current yield spreads (i.e., the differencein quoted rates of return on differing debt instruments) relative to T-Bills and their historical averageyield spreads. Fixed income securities with varying maturities, credit ratings, and risks typically have different yields. Some fixedincome securities’ yields may be similar to the yields of T-Bills (narrow yield spreads), while otherfixed income securities may have yields that are larger than and more attractive relative to the yields of T-Bills(wide yield spreads). Wider yield spreads, however, often indicate greater risks associated with those securities.Noless frequently than on a quarterly basis, the quantitative algorithm evaluates the current yield spreads of various categories of fixedincome securities relative to T-Bills and determines whether the current yield spreads are narrow or widerelative to historic averages. If a category of fixed income securities, e.g.,corporate bonds, has a historically narrow yield spread relative to T-Bills, the Fund will invest in T-Billsrather than corporate bonds because the lower rate of return does not sufficiently offset the associated risks of corporate bonds. If,however, a category of fixed income securities, e.g., MBS, hasa historically wide yield spread relative to T-Bills, the Fund will invest in MBS rather than T-Billsbecause the higher rate of return helps offset the additional risks associated with MBS. To the extent the quantitative model identifieshistorically wide yield spreads in any fixed income security category, the model generally targets an allocation of between 10% and 20%of the Fund’s net assets to that category of fixed income securities.Tothe extent that all of the various categories of fixed income securities have historically narrow yield spreads relative to T-Bills,the Fund may invest up to 100% of its portfolio in T-Bills, as market conditions warrant. However, if multiplecategories of the fixed income universe demonstrate historically wide yield spreads relative to T-Bills,which may include significant downward pricing trends, the Fund may invest a significant portion of its assets in each of those applicablefixed income security categories and may not allocate any assets to T-Bills. Accordingly, when spreads relativeto T-Bills are wider than historic averages for an individual category of fixed income security, the Fundtypically moves its assets tactically into these riskier bonds and sources of yield.AlthoughCambria seeks to weight each of the categories of fixed income securities with wide yield spreads equally in the Fund’s portfolio,security weights may fluctuate in response to market conditions and investment opportunities that develop between the model’s quarterlycalculations. Accordingly, the Fund generally targets an allocation of between 10% and 20% of its net assets in each category of fixedincome securities with wide historic yield spreads, based on the quantitative model’s quarterly calculation, and the Fund investsthe remainder of its assets in T-Bills.Tothe extent that historic yield spreads are wide with respect to high yield bonds or emerging market government bonds, Cambria expectsto obtain exposure to these types of fixed income securities through investments in other exchange-tradedfunds (“ETFs”). The model may allocate up to 10% of the Fund’s net assets to ETFs. Accordingly, the Fund generallytargets an allocation of between 5% and 10% of the Fund’s net assets to these categories of fixed income securities when they havehistorically wide yield spreads.Inaddition, to the extent that real estate investment trusts (“REITs”) have historically wide yield spreads relative to T-Bills,the model may allocate up to 20% of its net assets in REITs.Althoughthe Fund employs a model-based investment approach based on Cambria’s proprietary, quantitative algorithm,the Fund may sell a security when Cambria believes that the security is overvalued or better investment opportunities are available, toinvest in cash and cash equivalents, or to meet redemptions. Cambria expects to adjust the Fund’s holdings at least quarterly tomeet the investment criteria and target allocations (e.g., securityweights) established by the Fund’s quantitative algorithm.
TYLD News
- How (TYLD) Movements Inform Risk Allocation Models
- Trading Systems Reacting to (TYLD) Volatility
- How Cambria Tactical Yield Etf (TYLD) Affects Rotational Strategy Timing
- Cambria Tactical Yield ETF (BATS:TYLD) Short Interest Update
- How Cambria Tactical Yield Etf (TYLD) Affects Rotational Strategy Timing
- (TYLD) and the Role of Price-Sensitive Allocations
- Responsive Playbooks and the TYLD Inflection
Data for TYLD is aggregated from third-party providers (Tiingo, Nasdaq, Finnhub) and SEC filings, may be delayed at least 20 minutes, and may be incomplete or contain errors. Nothing here is investment advice. Verify with the official prospectus before investing.