Cambria Emerging Shareholder Yield ETF (EYLD) is an actively managed exchange-traded fund that invests primarily in equity securities of companies in emerging market countries exhibiting high shareholder yield characteristics, including dividend payments, net share buybacks, and debt paydown; it screens for value and quality factors while targeting firms with low financial leverage and market capitalizations generally above $200 million. The fund holds approximately 100-117 stocks across diversified sectors such as financials, technology, industrials, and consumer discretionary, with top holdings including The People's Insurance Company (Group) of China Limited, Tripod Technology Corporation, L&K Engineering Co., Ltd., ASUSTeK Computer Inc., and Woori Financial Group Inc.; it aims to provide equity income and capital appreciation through quarterly distributions. EYLD trades on the Cboe BZX exchange under the ticker EYLD with a total expense ratio of 0.63%, net assets exceeding $560 million, and portfolio management by Mebane T. Faber and Jonathan Keetz of Cambria Investment Management, LP.
EYLD, launched on July 14, 2016, follows a proprietary strategy benchmarked against the MSCI Emerging Markets Index but features differentiated sector allocations and lower valuations; it underwent a significant strategic shift on July 1, 2020, transitioning from passive management tracking the Cambria Emerging Shareholder Yield Index to active management with an updated investment objective emphasizing broader cash return attributes. Cambria Investment Management, LP, the fund's adviser founded in 2006 and headquartered in Manhattan Beach, California, has expanded its ETF lineup rapidly in recent years through multiple new product launches and strategic partnerships, including collaborations with ETF Architect for innovative 351 ETF Exchange structures enabling tax-deferred contributions of appreciated securities. Notable recent developments include the April 2025 launch of the Cambria Endowment Style ETF (ENDW), the June 2025 debut of the Cambria Global EW ETF (GEW), and the December 2025 introduction of the Cambria US EW ETF (USEW), growing Cambria's portfolio to 20 ETFs with over $3.3 billion in assets under management as of mid-December 2025.