Cambria Shareholder Yield ETF (SYLD) is an actively managed exchange-traded fund that seeks to provide equity income by investing in a portfolio of approximately 100 U.S.-listed companies with strong shareholder yield characteristics, defined as high cash distributions through dividends, net share buybacks, and net debt paydown. The fund employs a quantitative algorithm to select equal-weighted holdings from companies with market capitalizations greater than $200 million across various sizes, industries, and sectors, with maximum sector percentage caps to promote diversification; it distributes dividends quarterly and maintains an expense ratio of 0.59%. SYLD trades on the CBOE BZX exchange under ticker SYLD with CUSIP 132061201.
Cambria Investment Management, LP, the fund's investment adviser, was founded in 2006 and is headquartered in Los Angeles, California; the firm manages 19 ETFs with over $3 billion in assets under management as of September 2025, including related shareholder yield products such as Cambria Foreign Shareholder Yield ETF (FYLD), Cambria Emerging Shareholder Yield ETF (EYLD), Cambria Micro and Small Cap Shareholder Yield ETF (MYLD), and Cambria Large Cap Shareholder Yield ETF (LYLD).
In June 2020, SYLD underwent a significant strategic shift by changing its investment objective and strategy from passive to active management, enhancing its focus on quantitative selection of high shareholder yield stocks. More recently, in September 2025, Cambria launched the Cambria Global EW ETF (GEW) via a 351 ETF Exchange, following similar debuts of Cambria Tax Aware ETF (TAX) and Cambria Endowment Style ETF (ENDW), expanding its lineup of systematic, tax-efficient equity products; the firm also introduced Cambria US Equal Weight ETF (USEW) as its fourth such innovative offering. These launches underscore Cambria's ongoing product innovation in quantitative strategies targeting value, momentum, and alternative investments for U.S. and global investors.