Baron Financials ETF (NASDAQ: BCFN) is an actively managed exchange-traded fund that seeks capital appreciation through investments in financial and financial-related growth companies across all market capitalizations, focusing on businesses that provide or enable financial services; the portfolio emphasizes faster-growing companies within the segment, including established institutions and fintech innovators modernizing money movement, trust-building, and the evolving financial system in the digital era; top holdings include S&P Global Inc., Mastercard Inc., Visa Inc. Class A, LPL Financial Holdings Inc., and Intuit Inc., with primarily U.S. securities and some global exposure such as MercadoLibre Inc. and Nu Holdings Ltd.. Launched on December 15, 2025, as part of Baron Capital's expansion into active ETFs, BCFN converts the strategy from the predecessor Baron FinTech mutual fund and is managed by Josh Saltman; this launch accompanies four other new ETFs—Baron First Principles ETF (RONB), Baron Global Durable Advantage ETF (BCGD), Baron SMID Cap ETF (BCSM), and Baron Technology ETF (BCTK)—extending Baron Capital's 43-year track record of research-driven growth equity investing into tax-efficient ETF structures.. The ETF operates under Baron ETF Trust, sponsored by Baron Capital Group, Inc., headquartered in New York, NY, with an expense ratio of 0.80% and a benchmarked performance history derived from the institutional shares of its predecessor fund since December 31, 2019..