Cambria Micro and SmallCap Shareholder Yield ETF is an actively managed exchange-traded fund of Cambria ETF Trust that seeks equity-income exposure through investments in U.S. micro- and small-capitalization companies demonstrating high shareholder yield. The Fund systematically constructs an approximately equal-weighted portfolio of about 100 companies selected for cash distributions to shareholders through dividends; net share repurchases; and debt reduction, with these three measures collectively comprising shareholder yield. MYLD provides investors with publicly traded ETF shares, portfolio management, securities selection and rebalancing, equity-income exposure, and quarterly cash-distribution potential; it is listed on Cboe BZX under ticker MYLD and is advised by Cambria Investment Management LP, an independent, privately owned quantitative asset-management and alternative-investment firm formed in 2006 and headquartered in Manhattan Beach, California. The Fund was launched on January 4, 2024, is managed by Mebane T. Faber and Jonathan Keetz, and is distributed by ALPS Distributors Inc. MYLD’s investment universe and principal geographic exposure are the United States, with a focus on smaller publicly listed issuers; its strategy is intended for investors seeking participation in the shareholder-yield characteristics of the U.S. micro- and small-cap market. Recent developments include Cambria Investment Management’s August 2026 recognition of the 10-year anniversary of its Cambria Emerging Shareholder Yield ETF and its positioning of MYLD, alongside the Cambria Large Cap Shareholder Yield ETF, as an expansion of its shareholder-yield platform across the market-capitalization spectrum. MYLD continues to operate as a relatively new fund with limited operating history and makes distributions quarterly.