Congress Intermediate Bond ETF
CAFX
New York Stock Exchange Arca- -
USD
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Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 2 Seaport Lane, 5th Floor Boston MA United States of America 2210
- IPO Date
- Sep 10, 2024
- Website
- etfs.congressasset.com
- Similar Companies
- Business
- Congress Intermediate Bond ETF (CAFX) is an actively managed exchange-traded fund that seeks to maximize total return by investing primarily in U.S. dollar-denominated, investment-grade debt securities and instruments with similar economic characteristics; these include U.S. corporate and government obligations, municipal securities issued by states and territories, mortgage-backed securities guaranteed by U.S. government agencies such as FNMA, GNMA and FHLMC, asset-backed securities, and up to 20% in high-yield securities, with a typical dollar-weighted average portfolio maturity of zero to ten years and duration of three to five years. The fund benchmarks against the Bloomberg US Intermediate Government/Credit Index, maintains an expense ratio of 0.35%, and trades on NYSE Arca, with shares issued and redeemed in creation units primarily through authorized participants. Congress Intermediate Bond ETF holds approximately 50 securities, with significant allocations to U.S. Treasury notes (e.g., 4.13%-4.63% yields comprising top weights around 3-4% each), corporate bonds (46.56% sector exposure), government bonds (44.44%), and cash equivalents (4%). Sponsored and managed by Congress Asset Management Company, LLP, a Boston-based independent investment adviser founded in 1985 and headquartered at 2 Seaport Lane, 5th Floor, Boston, Massachusetts, the ETF is distributed by Quasar Distributors, LLC and custodied by U.S. Bank, N.A., with portfolio management led by Jeffrey Porter (CFA, Committee Chair), John Beaver (CFA), Brian Guild, and John Corrigan (CFA). The firm oversees approximately $365 million in assets under management for CAFX as of late 2025, targeting institutional investors, financial intermediaries, and individuals in developed North American markets through exchange-traded liquidity. Launched on September 9, 2024, the fund represents Congress Asset Management's entry into the intermediate core bond ETF category, expanding its fixed income offerings alongside equity and private equity strategies; it has grown steadily with assets surpassing $360 million by mid-2025 amid favorable fixed income market conditions. No major acquisitions, partnerships, funding rounds, or strategic shifts specific to CAFX or its sponsor have been reported in the last 1-2 years, though the firm maintains a history of prior expansions such as the 2017 acquisition of Century Capital Management's investment business. The ETF paid dividends in 2025, including distributions announced around June-July with yields near 3.72%, reflecting stable income generation.