What Cambria Funds does

Cambria Investment Management, LP (doing business as Cambria Funds) is a privately held, SEC-registered investment advisor headquartered in Manhattan Beach, California, founded in 2006. The firm designs and manages a suite of 19 actively managed exchange-traded funds organized across shareholder yield (SYLD, FYLD, EYLD, MYLD, LYLD), asset allocation (GAA, TRTY, ENDW), core equity equal-weight (USEW, GEW), global deep value (GVAL), tactical risk management (TAIL, VAMO), trend following (GMOM, MFUT, CFIT), thematic (BLDG), tactical yield (TYLD), and tax-efficient equities (TAX) strategies.

The firm's underlying technology is a proprietary quantitative investment framework that combines systematic portfolio construction with factor-based screens integrating shareholder yield (dividends, buybacks, debt paydown), trend following, value, and momentum, deployed through equal-weight portfolio construction to reduce market-cap concentration risk. Selected products such as ENDW employ dynamic multi-asset allocation across equities, fixed income, real assets, and alternatives using a mix of ETFs and futures at 130%-150% notional exposure. The platform is supported by third-party sub-advisors including Chesapeake Capital (MFUT) and external distribution through ALPS Distributors Inc.

Cambria generates revenue from management and acquired fund fees on ETF assets under management, with total expense ratios ranging from 0.29% (ENDW) to 0.59% (SYLD). The firm serves both retail investors via direct exchange access and institutional investors and financial advisors through a regional investment consultant network. Recent activity includes the April 2025 launch of ENDW, the December 2025 launch of USEW with a 351 ETF exchange feature, a December 2025 strategic 35.89% equity stake in Aliko Scientific SA, and the April 2026 liquidation of the small Cambria Cannabis ETF (TOKE).

Name

Cambria Funds

Legal name

Cambria Investment Management, LP

Website

https://cambriafunds.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Cambria Funds (Cambria Investment Management, LP) is a privately held, SEC-registered investment advisor that designs and manages 19 actively managed ETFs built on proprietary quantitative factor strategies, serving retail investors via exchanges and financial advisors and institutions through a regional consultant network.

Ownership category

akta.pro rank

Product category

Actively Managed Exchange-Traded Funds (ETF Asset Management)

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Open-End Investment Funds (52591)

SIC

Investment Advice (6282)

akta.pro primary industry

Style/Factor Equity ETFs (Value, Growth, Quality, Low Vol, Momentum) (FSAAAFAB)

akta.pro secondary industries

Multi-Asset & Allocation ETFs (Balanced, Target Risk) (FSAAAFAF), Broad Market Equity ETFs (FSAAAFAA), Real Assets & Infrastructure ETFs (REITs, Infrastructure, Natural Resources) (FSAAAFAH)

Keywords

• Actively managed ETFs
• Factor-based investing
• Shareholder yield strategies
• Investment management services
• Quantitative asset management

Headquarters

HQ city

El Segundo

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Management Fee Revenue: Cambria earns revenue through management fees charged on ETF assets under management. Each fund has a Total Expense Ratio (TER) including management fees and acquired fund fees. For example, SYLD charges 0.59% TER, TRTY charges 0.46% TER, ENDW charges 0.29% TER, and USEW charges 0.30% TER.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Cambria Funds operates a suite of actively managed exchange-traded funds (ETFs) using proprietary quantitative strategies that combine shareholder yield screening, value/momentum factors, trend-following overlays, and equal-weight portfolio construction across global equities, fixed income, commodities, and currencies. The firm manages 19 ETFs covering shareholder yield (SYLD, FYLD, EYLD, MYLD, LYLD), asset allocation (GAA, TRTY, ENDW), core equity equal weight (USEW, GEW), global value (GVAL), tactical risk management (TAIL, VAMO), trend following (GMOM, MFUT, CFIT), thematic (BLDG), tactical yield (TYLD), and tax-efficient equities (TAX). ETFs are distributed through ALPS Distributors Inc. and listed on CBOE BZX and NASDAQ exchanges.

Product overview

Cambria Funds offers a platform of 19 actively managed ETFs organized across investment strategies including Shareholder Yield (SYLD, FYLD, EYLD, MYLD, LYLD), Asset Allocation (GAA, TRTY, ENDW), Core Equity Equal Weight (USEW, GEW), Global Deep Value (GVAL), Tactical Risk Management (TAIL, VAMO), Trend Following (GMOM, MFUT, CFIT), Thematic (BLDG), Tactical Yield (TYLD), and Tax-Efficient Equities (TAX). All funds are actively managed by Cambria Investment Management, LP, an SEC-registered investment advisor founded in 2006, with distribution through ALPS Distributors Inc.

Differentiator

Problem solved

Functional benefit

Brands

• Cambria ETFs: The company's suite of actively managed exchange-traded funds covering various investment strategies including shareholder yield, asset allocation, tail risk, momentum, and value investing.

Products and services

• Cambria Shareholder Yield ETF (SYLD) Actively managed equity income ETF focusing on US companies with high shareholder yield, targeting equal-weight portfolios of approximately 100 companies that return cash to investors through dividends, buybacks, and debt paydown. TER: 0.59%.
• Cambria Foreign Shareholder Yield ETF (FYLD) Actively managed international ETF focusing on foreign developed-market companies returning cash to shareholders through dividends, buybacks, and debt reduction.
• Cambria Emerging Shareholder Yield ETF (EYLD) Actively managed ETF focusing on emerging market companies that return cash to shareholders through dividends, buybacks, and debt paydown.
• Cambria Micro & SmallCap Shareholder Yield ETF (MYLD) Actively managed ETF focusing on micro and small-cap companies exhibiting high shareholder yield characteristics.
• Cambria Large Cap Shareholder Yield ETF (LYLD) Actively managed ETF focusing on large-cap companies with high shareholder yield characteristics.
• Cambria Global Asset Allocation ETF (GAA) Actively managed global allocation ETF targeting 45% equities, 45% fixed income, and 10% alternatives, seeking capital preservation and growth across global stocks, bonds, commodities, and currencies.
• Cambria Trinity ETF (TRTY) Actively managed ETF combining value investing and trend following with 35% trend following, 25% equities, 25% fixed income, and 15% alternatives across global stocks, bonds, commodities, and currencies. TER: 0.46% with permanent 0% management fee.
• Cambria Endowment Style ETF (ENDW) Actively managed diversified global ETF seeking income and capital appreciation through equities, fixed income, real assets, and alternatives across US, foreign developed, and emerging markets with aggressive 130%-150% notional exposure. TER: 0.29%.
• Cambria Tail Risk ETF (TAIL) Actively managed ETF using a put options strategy to hedge against tail risk, holding long-duration Treasuries to finance put option purchases for downside protection.
• Cambria Value and Momentum ETF (VAMO) Actively managed tactical ETF combining value and momentum investment styles with dynamic hedging capabilities (up to 100% of long portfolio) against equity market declines.
• Cambria Global Momentum ETF (GMOM) Actively managed global momentum ETF following a momentum style of investing in securities with higher recent price performance across global markets.
• Cambria Chesapeake Pure Trend ETF (MFUT) Actively managed commodity and trend-following ETF focused on pure trend strategies across commodities, with Chesapeake Capital Corporation serving as Investment Sub-Advisor.
• Cambria Fixed Income Trend ETF (CFIT) Actively managed fixed income ETF employing trend-following strategies within the bond market to capture momentum signals.
• Cambria Global Real Estate ETF (BLDG) Actively managed global real estate ETF concentrated in real estate-related industries across global markets.
• Cambria Tactical Yield ETF (TYLD) Actively managed tactical yield ETF targeting income through various fixed income strategies with high-yield exposure.
• Cambria Tax Aware ETF (TAX) Actively managed tax-efficient equity ETF employing tax-aware strategies designed to reduce investor taxable income.
• Cambria Global Value ETF (GVAL) Actively managed global value ETF focusing on undervalued securities across international markets.
• Cambria US EW ETF (USEW) Actively managed US equal weight ETF providing diversified large capitalization US equity exposure by avoiding market-cap weighting to reduce concentration risk. TER: 0.30%.
• Cambria Global EW ETF (GEW) Actively managed global equal weight ETF providing diversified international equity exposure by avoiding traditional market-cap weighting.

Quantifiable outcome

• FYLD has outperformed its benchmark IDEV since inception, particularly over the past year
• +1 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• ALPS Distributors Inc.coreChannel Partner/ Reseller/ DistributorALPS Distributors Inc. (1290 Broadway, Suite 1000, Denver, CO 80203) serves as the principal distributor for all Cambria ETFs. ALPS handles wholesale distribution to broker-dealers and custodians, enabling secondary market trading of Cambria funds on exchanges.
• Foreside Fund Services, LLCcoreChannel Partner/ Reseller/ DistributorForeside Fund Services, LLC serves as the distributor for the Cambria Chesapeake Pure Trend ETF (MFUT), separate from the primary ALPS relationship used for other Cambria funds.
• Chesapeake Capital CorporationminorImplementation/ SI/ Consulting PartnerChesapeake Capital Corporation serves as Investment Sub-Advisor for the Cambria Chesapeake Pure Trend ETF (MFUT), providing specialized trend-following expertise.
• Empowered Funds, LLCminorImplementation/ SI/ Consulting PartnerEmpowered Funds, LLC is referenced as the investment advisor for USEW ETF (Cambria US EW ETF), indicating a sub-advisory or co-advisory relationship.

Scale indicators3 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Vanguard: A dominant low-cost incumbent with factor and dividend ETF offerings (e.g., VTV, VIG, value/factor series). Competes with Cambria on price point and brand trust rather than on factor specialization.
• iShares (BlackRock): The largest ETF sponsor globally, offering factor ETFs (iShares MSCI factor series) and broad allocation products. While not a niche competitor, it sets the fee benchmark and competes for the same factor-aware investor capital.
• Invesco: A major incumbent asset manager offering the Invesco QQQ family and a broad factor-tilted ETF lineup. While much larger and more diversified, it competes directly with Cambria in factor, allocation, and tactical ETFs and operates its own distribution infrastructure.
• First Trust: A long-established ETF sponsor offering factor-based and tactical ETFs (e.g., value, momentum, asset allocation). Larger and broader than Cambria but competes in the same advisor-driven factor-and-income categories.

Others

• ALPS Advisors: Distributor and sponsor partner (already Cambria's principal distributor via ALPS Distributors Inc.) with its own lineup of ETFs and active strategies. A direct industry participant and ecosystem partner that also overlaps in active ETF product categories.

Direct peers

• Amplify ETFs: An independent, founder-led ETF sponsor offering thematic, factor, and income-oriented products with similar distribution model to Cambria, competing for the same advisor and self-directed retail wallet.
• Pacer ETFs: An independent ETF sponsor built around trend-following, cash flow, and factor methodologies (e.g., trendpilot series). Highly comparable strategy set to Cambria's GMOM, MFUT, and CFIT trend-following funds.
• Alpha Architect: A quant-driven ETF sponsor focused on factor investing and quantitative strategies for advisor and retail audiences. Overlaps directly with Cambria's shareholder yield, value, and momentum factor offerings.
• WisdomTree Investments: A leading publicly traded ETF sponsor with a comparable factor- and income-oriented product set (e.g., shareholder yield, international value, quality). Directly competes with Cambria's SYLD, FYLD, GVAL, and similar factor ETFs across both advisor and retail channels.
• Reality Shares (formerly Reality Shares Advisors): An ETF sponsor historically focused on factor-based strategies (dividend, value, momentum), overlapping directly with Cambria's core methodology and target customer base.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/CambriaFunds

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cambria Funds