At a glance
BAMO charges 1.05% a year, above the 0.86% average of the 7 funds most like it (the most expensive of 8). It has $46.5M in assets, the 8th largest of that group; it paid 1.34% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +9.0% with distributions reinvested (S&P 500: +11.5%), the weakest of those 8 funds; over three years it returned +14.1% a year.
The short version
Brookstone Opportunities ETF (BAMO) is an actively managed fund of funds: it holds 5 to 10 ETFs, and its manager can move it fully into or out of stocks. As of August 31, 2026, it held three US stock-index funds at about 21% each and two Treasury and bond funds at about 18% each. That flexibility has a price: a 1.05% expense ratio, more than the cost of owning the same funds directly.
Price history
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BAMO +9.0% 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 | |
|---|---|---|---|---|---|---|
| BAMO official prospectus, to Dec 31, 2025 | — | +9.08% | — | — | — | +14.22% |
| Dow Jones Moderate Portfolio Index index, same period | — | +13.82% | — | — | — | +14.35% |
| S&P 500 Index index, same period | — | +17.88% | — | — | — | +24.85% |
| BAMO price data to Oct 27, 2026 | +7.9% | +9.0% | +14.1% | — | — | +12.9% |
- Over the year to Oct 27, 2026, BAMO returned +9.0%, 8th of 8 among similar funds.
- Its worst full calendar year was 2025 (+9.2%); its best was 2024 (+14.4%).
- The deepest fall in its price history was 12.7% (Feb 19, 2025 to Apr 8, 2025), recovered by Jul 3, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +7.9% | — |
| 2025 | +9.2% | +9.08% |
| 2024 | +14.4% | +14.38% |
| 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) | $0.1900 | |
| 2025 | $0.5000 | +4.2% |
| 2024 | $0.4800 |
What's inside
As of Aug 31, 2026, the fund held 5 securities; the ten largest made up 100.06% of assets.
| Fund held | Weight | |
|---|---|---|
| ISHARES-C S&P500 | 21.23% | |
| VANGUARD S&P 500 | 21.22% | |
| SS SPDR DJIA ETF | 21.21% | |
| ISHARES 0-3M T/B | 18.21% | |
| SPDR BLOOMBERG 1 | 18.19% |
By country
United States 100.06%By asset type
Stocks 100.06%What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $3.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.09%, +0.17%, +1.45%.
How it works
BAMO does not track an index. Its adviser buys 5 to 10 ETFs run by other firms on the stock market. The goal is total return, meaning price gains plus income. The adviser decides how much to put in stocks, bonds and cash based on its outlook for each. It picks each ETF by looking at its asset class, benchmark, expense ratio, ease of trading and issuer. The fund can hold all stocks or no stocks at all.
The range of choices is wide. Stock ETFs can cover US and foreign companies of any size, including emerging markets, which the adviser defines as the countries in the MSCI Emerging Markets Index. Bond holdings are US Treasury ETFs or broad bond index ETFs, and they can include junk bonds, meaning lower-rated, higher-yield debt. The fund may also buy leveraged ETFs, which aim to multiply an index's daily move and can lose value quickly.
As of August 31, 2026, BAMO held five ETFs in nearly equal amounts: iShares Core S&P 500 (21.2%), Vanguard S&P 500 (21.2%), SPDR Dow Jones Industrial Average (21.2%), iShares 0-3 Month Treasury Bond (18.2%) and a SPDR Bloomberg bond ETF (18.2%). The prospectus sets no fixed rebalancing schedule, and portfolio turnover was 35%. Holders pay BAMO's fees and, indirectly, the fees of the ETFs it owns.
What it really costs
- BAMO charges 1.05% 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 0.07% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $107 in the first year and $11,357 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| BAMO | $107 | $349 | $610 | $11,357 |
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
Most of the risk comes not from day-to-day price swings but from a broad mandate (all-in or all-out stocks, leveraged ETFs, junk bonds), a short track record and a 1.05% fee.
BAMO could fill a small slot next to low-cost core funds. Its track record is short. It launched September 28, 2023, so it missed the 2008, 2020 and 2022 sell-offs. Its weakest calendar year, 2025, was still a gain of about 9%. Its deepest drop was 12.7%, from February 19 to April 8, 2025, and it was back to its old high by July 3, 2025, in under three months. Anyone forced to sell near that low would have locked in a loss, and the fund has not been through a long bear market.
Income is modest: a 1.34% trailing yield as of October 27, 2026, paid quarterly, compared with a 1.05% expense ratio. From launch through December 31, 2025, it returned 14.22% a year, close to the 14.35% of the Dow Jones Moderate Portfolio Index. 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 would rather have a manager shift between S&P 500 ETFs and short-term Treasury ETFs than make those calls themselves.
- People comfortable with moderate swings: three-year volatility of 9.3% and a deepest drop of 12.7% through October 27, 2026.
- Investors who want quarterly payouts from a stock-and-bond mix and can accept a modest 1.34% trailing yield as of October 27, 2026.
Look elsewhere if
- Cost-focused investors: the 1.05% expense ratio sits on top of index ETFs that investors could buy directly for less.
- Those who want a long track record: BAMO launched in September 2023 and missed the 2008, 2020 and 2022 downturns.
- Those wary of small, flexible funds: $46.5 million in assets as of August 31, 2026, and rules that allow leveraged ETFs and selling out of stocks entirely.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| BAMO this fund | 1.05% | $46.5M | +9.0% | +14.1% |
| 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
What does BAMO invest in?
BAMO invests in other ETFs rather than individual stocks or bonds. As of August 31, 2026, it held five: an iShares S&P 500 fund, a Vanguard S&P 500 fund and the SPDR Dow Jones Industrial Average ETF at about 21% each, plus the iShares 0-3 Month Treasury fund and a SPDR Bloomberg bond fund at about 18% each. The manager can move fully into or out of stocks. It may also use foreign, emerging-market and junk-bond (lower-rated debt) ETFs, and leveraged ETFs, which magnify daily index moves.
Is BAMO good for retirement income?
BAMO is not mainly an income fund. Its stated goal is total return, meaning price gains plus income. It pays distributions quarterly. Its trailing yield (income paid over the past year divided by the share price) was 1.34% as of October 27, 2026, or about $0.47 per share. Retirees who need steady cash from a portfolio may find that modest. Its record also starts in September 2023, so it has not been tested in a crash like 2008 or 2020.
What is BAMO's expense ratio?
BAMO's expense ratio, the yearly fee taken from fund assets, is 1.05% according to its prospectus filed September 24, 2026. That includes a 0.65% management fee. The SEC's standard example assumes $10,000 invested and a 5% yearly return. On that basis, costs would total about $107 after one year, $349 after three years and $610 after five. Because BAMO owns other ETFs, it indirectly bears those funds' fees. The prospectus says this makes it cost more than owning the underlying funds directly.
BAMO vs BUFR: what's the difference?
They work differently, so BUFR is a comparison point, not a close substitute. FT Vest Laddered Buffer ETF (BUFR) is a buffer, or defined-outcome, fund. Funds like this use options to absorb part of stock losses over set periods in exchange for capped gains. BAMO instead shifts among stock-index and Treasury funds as its manager sees fit. As of October 27, 2026, BUFR returned 11.6% over one year and 16.8% a year over three, versus 9% and 14.1% for BAMO. BUFR's expense ratio is 0.95%, against BAMO's 1.05%.
How has BAMO performed compared with the S&P 500?
BAMO has trailed the S&P 500 by a wide margin. In the year to December 31, 2025, it returned 9.08%, versus 17.88% for the S&P 500 Index and 13.82% for the Dow Jones Moderate Portfolio Index, a blended stock-and-bond benchmark. From its September 2023 launch through that date, BAMO averaged 14.22% a year, against 24.85% for the S&P 500 and 14.35% for the moderate index. Its largest drop was 12.7%, from February 19 to April 8, 2025, and it recovered by July 3, 2025.