Brandes U.S. Small-Mid Cap Value ETF
BSMC
Chicago Board Options Exchange- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 11988 El Camino Real, Suite 600 San Diego CA United States of America 92130
- IPO Date
- Oct 9, 2023
- Website
- brandes.com
- Similar Companies
- Business
- Brandes U.S. Small-Mid Cap Value ETF (BSMC) is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing primarily in equity securities of small- and mid-capitalization U.S. companies trading below estimates of intrinsic value. The fund employs a disciplined, bottom-up value investing approach, focusing on common stocks, preferred stocks, American Depositary Receipts, warrants, and rights of U.S. companies with market capitalizations generally aligned with the Russell 2500 Value Index range, typically from approximately $60 million to $24 billion; it maintains a portfolio of around 66 to 69 holdings, with significant sector allocations to healthcare (approximately 20%), industrials (19%), technology, consumer staples, and financials. BSMC is part of the 2023 ETF Series Trust, advised by Brandes Investment Partners, L.P., a value-investing specialist founded in 1974 and headquartered in San Diego, California, with additional offices in Milwaukee, Toronto, Dublin, and Singapore. The ETF, which lists on the Cboe BZX Exchange under ticker BSMC with a net expense ratio of 0.70%, targets institutional and individual investors seeking exposure to undervalued small- and mid-cap U.S. equities, including up to 5% in non-U.S. companies from emerging and frontier markets; top holdings as of late 2025 include JPMorgan U.S. Treasury Plus Money Market Fund (cash equivalent), Amdocs Ltd., Premier Inc., Edgewell Personal Care Co., and Elanco Animal Health Inc. Brandes Investment Partners launched BSMC on October 3, 2023, as the first of three active value-focused ETFs (alongside BUSA and BINV) through a strategic partnership with Goldman Sachs ETF Accelerator, marking the firm's entry into the active ETF space and leveraging over 20 years of experience managing its U.S. Small-Mid Cap Value Equity Strategy. In 2024, Brandes Investment Partners appointed Oliver Murray as CEO, replacing Brent Woods, and introduced a new director of research role while adding three limited partners to bolster succession planning amid an employee-owned structure with 158 employees and $40.3 billion in total assets under management; the firm also celebrated its 50th anniversary and earned recognition as one of Pensions & Investments' 2025 Best Places to Work in Money Management. BSMC's assets under management have grown to approximately $129 million, with quarterly dividends and a yield around 1.16%, reflecting steady institutional adoption by holders such as Hantz Financial Services, Royal Bank of Canada, and Jane Street Group.