At a glance
BAMA charges 1.01% a year, above the 0.86% average of the 7 funds most like it (the most expensive of 8). It has $49.3M in assets, the 8th largest of that group; it paid 1.43% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +7.8% with distributions reinvested (S&P 500: +11.5%), the weakest of those 8 funds; over three years it returned +15.7% a year.
The short version
Brookstone Active ETF (BAMA) is an actively managed fund of funds. It owns a handful of other ETFs that hold US and foreign stocks, including emerging markets, along with bonds and cash. Its manager moves the mix between 40% and 80% stocks. The total expense ratio is 1.01%, which is high for an ETF, because holders pay BAMA's fee and also the costs of the funds it owns.
Price history
The interactive chart needs JavaScript.
BAMA +7.8% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| BAMA official prospectus, to Dec 31, 2025 | — | +12.51% | — | — | — | +16.20% |
| Dow Jones US Select Dividend Index index, same period | — | +13.82% | — | — | — | +14.35% |
| S&P 500 Index index, same period | — | +17.88% | — | — | — | +24.85% |
| Bloomberg U.S. Aggregate Bond Index index, same period | — | +7.30% | — | — | — | +6.91% |
| BAMA price data to Oct 27, 2026 | +7.8% | +7.8% | +15.7% | — | — | +14.2% |
- Over the year to Oct 27, 2026, BAMA returned +7.8%, 8th of 8 among similar funds.
- Its worst full calendar year was 2025 (+12.6%); its best was 2024 (+15.0%).
- The deepest fall in its price history was 12.3% (Feb 19, 2025 to Apr 8, 2025), recovered by Jun 24, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +7.8% | — |
| 2025 | +12.6% | +12.51% |
| 2024 | +15.0% | +14.97% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.2100 | |
| 2025 | $0.5200 | +15.6% |
| 2024 | $0.4500 |
What's inside
As of Aug 31, 2026, the fund held 6 securities; the ten largest made up 99.5% of assets.
| Fund held | Weight | |
|---|---|---|
| SPDR PORTFOLIO S | 23.25% | |
| STATE STREET SPD | 23.15% | |
| SPDR PORTFOLIO A | 17.70% | |
| ISHARES DEC 27 T | 13.60% | |
| ISHA CORE EM | 11.21% | |
| ISH CORE EAFE | 10.60% |
By country
United States 99.5%By asset type
Stocks 99.5%What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $3.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.71%, -1.15%, +2.16%.
How it works
Brookstone Active ETF, from AmeriLife, does not track an index. It is an actively managed "fund of funds": it buys shares of other ETFs rather than individual stocks and bonds. The prospectus says it holds 5 to 10 of them, all run by outside firms. Under normal conditions, 40% to 80% goes to stock funds. These cover US and foreign companies of any size, including emerging markets (countries in the MSCI Emerging Markets Index). The rest goes to US Treasury ETFs or broad, index-based bond ETFs, plus cash.
The adviser sets the mix based on its outlook for each asset class. It picks ETFs by asset class, benchmark, expense ratio, liquidity and issuer. Weights shift at the adviser's discretion, and the prospectus sets no rebalancing schedule. The prospectus filed September 24, 2026 reports 56% portfolio turnover, meaning roughly half the portfolio was swapped out over a year. Holders pay the fund's 0.65% management fee plus the fees charged inside each underlying ETF. The prospectus lists a 1.01% total expense ratio.
As of August 31, 2026, the fund held six ETFs. Two were SPDR Portfolio funds (23.2% and 17.7%) and one was a State Street SPDR fund (23.1%). The rest were an iShares fund listed as "iShares Dec 27 T" (13.6%), iShares Core EM (11.2%) and iShares Core EAFE (10.6%).
What it really costs
- BAMA charges 1.01% a year, versus an average of 0.86% for the similar funds below (8th of 8, cheapest first).
- Of that, 0.65% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.03% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $103 in the first year and $1,268 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| BAMA | $103 | $328 | $571 | $1,268 |
Structure and tax notes
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
BAMA combines US, international and emerging-market stocks with bonds and cash in one actively managed fund, so it could serve as a central stock-and-bond mix rather than a niche bet.
BAMA launched in September 2023. That means it has no record for the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market. Its weakest calendar year so far was 2025, when it gained 12.51%. Its deepest drop was 12.3%, from February 19 to April 8, 2025. It got back to its peak by June 24, 2025, about 2.5 months later. That was a short, mild test. A longer slump could force someone who needs cash to sell shares at a loss. The yield was 1.43% as of October 27, 2026, paid quarterly, so the fund is not built mainly for income. Costs add up too: in the SEC's standard example, $10,000 invested comes to $1,268 in costs over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want one fund holding US, developed international and emerging-market stock ETFs plus Treasury or broad bond ETFs, with a manager setting the mix.
- People willing to pay a 1.01% expense ratio to have someone else make allocation decisions instead of building and rebalancing a portfolio themselves.
- Holders comfortable with a stock share that can range from 40% to 80%, and with drops like the 12.3% fall in early 2025.
Look elsewhere if
- Cost-focused investors: the prospectus says owning BAMA costs more than buying its underlying ETFs directly, and the expense ratio is 1.01%.
- Income seekers: the trailing yield was 1.43% as of October 27, 2026, paid quarterly.
- Anyone who wants a long track record or a large fund: BAMA launched in September 2023 and had $49.3 million in net assets as of August 31, 2026.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| BAMA this fund | 1.01% | $49.3M | +7.8% | +15.7% |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
Is BAMA a good ETF for retirement?
BAMA can serve as an all-in-one mix of stocks and bonds, but it has real drawbacks for retirement savers. Its expense ratio is 1.01%, its record only starts in September 2023, and it had $49.3 million in net assets as of August 31, 2026. Its prospectus shows gains of 14.97% in 2024 and 12.51% in 2025. It has not yet been through a long bear market, so it is hard to judge how it handles one.
What does BAMA invest in?
BAMA invests in other ETFs, not individual stocks or bonds. As of August 31, 2026, it held six ETFs making up 99.5% of assets. Two SPDR funds held about 23% each, and another SPDR Portfolio fund held 17.7%. The rest was in iShares funds: one listed as "iShares Dec 27 T" at 13.6%, iShares Core emerging markets at 11.2% and iShares Core EAFE at 10.6%. Cash was 1.09%.
Does BAMA pay dividends?
Yes. BAMA pays distributions quarterly. Over the 12 months to October 27, 2026, it paid $0.52 per share, a yield of 1.43%. The payments come from the income its underlying stock and bond ETFs pass along. The yield is modest because most of the fund is in stock ETFs, and because its 1.01% expense ratio is taken out of the income it earns.
How has BAMA performed compared with the S&P 500?
BAMA has lagged the S&P 500. As of December 31, 2025, the fund returned 12.51% over one year and 16.2% a year since launch. The S&P 500 Index returned 17.88% and 24.85% over the same periods. BAMA was ahead of the Bloomberg U.S. Aggregate Bond Index, which returned 7.3% and 6.91%. Holding bonds, cash and foreign stocks makes it different from an all-US stock index.
Is BAMA a buffer ETF like BUFR?
No. Buffer funds such as FT Vest Laddered Buffer ETF (BUFR) use options to limit losses within set ranges, with caps on gains. BAMA held no derivatives as of August 31, 2026. It manages risk through its bond and cash holdings. BUFR's expense ratio is 0.95%, compared with BAMA's 1.01%. Over three years to October 27, 2026, BUFR returned 16.8% a year and BAMA returned 15.7%. The two follow different strategies, so they are not close substitutes.