Bancreek International Large Cap ETF

Bancreek International Large Cap ETF (BCIL) is an actively managed fund. A quantitative model run by sub-adviser Bancreek Capital Advisors picks 25 to 50 large companies outside the US, mostly in developed markets. It held 30 stocks as of August 31, 2026, with its largest country weights in Japan and South Korea. Its 0.80% expense ratio is far above the 0.03% to 0.06% charged by broad index funds such as VEA and SCHF.

• Over the year to Oct 27, 2026, BCIL returned -2.7%, 3rd of 3 among similar funds.
• Its worst full calendar year was 2025 (+11.9%); its best was 2025 (+11.9%).
• The deepest fall in its price history was 16.2% (Jun 30, 2025 to Mar 30, 2026), recovered by May 6, 2026.

As of Aug 31, 2026, the fund held 30 securities; the ten largest made up 39.88% of assets.

• Over the three months to Aug 31, 2026, investors added a net $423K (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -1.21%, -3.02%, +3.15%.

BCIL does not track an index. It is an actively managed ETF from Exchange Traded Concepts; the sub-adviser, Bancreek Capital Advisors, picks the stocks. At least 80% of net assets normally go into non-US companies worth over $5 billion when bought, mainly from a listed set of developed markets such as Japan, South Korea, Germany and the UK, with at least three countries represented.

Bancreek's data-driven research system looks for companies it believes have "structurally advantaged business models" and can compound capital over time, using company and market data. It typically yields 25 to 50 stocks, rebuilt and reweighted monthly, capped at 10% per stock at purchase. As of August 31, 2026, the fund held 30, led by Samyang Foods at about 4.5%; the top 10 made up about 40%.

Although the fund expects to hold stocks at least a year, its March 27, 2026 prospectus reported turnover of 280%, roughly like replacing the whole portfolio almost three times a year. Those trading costs come on top of the 0.80% expense ratio. Country and sector weights follow from stock picks, not targets, so concentration can build. Bancreek may occasionally hedge currencies with forward contracts (deals to swap currencies at a set future rate); the fund held none as of August 31, 2026.

• BCIL charges 0.8% a year, versus an average of 0.04% for the similar funds below (3rd of 3, cheapest first).
• Of that, 0.9% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.1% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $82 in the first year and $1,099 over 10 years (assuming a 5% annual return).

With about 30 model-picked stocks, a 0.80% fee and a record starting only in March 2024, it fits as a small add-on rather than a core holding.

BCIL could add a concentrated, actively picked set of foreign stocks next to a broad core holding. It launched in March 2024, so it has no record through the 2008, 2020 or 2022 sell-offs. Its only full calendar year, 2025, returned 12.04%. Its deepest drop was 16.2%, from June 30, 2025 to March 30, 2026, and it regained that peak by May 6, 2026. Over the year to October 27, 2026, it lost 2.7%. Its volatility (how widely returns swing) was 19.9%, and its beta of 1.06 means it moved slightly more than the market. Someone who has to sell shares in a bad year would be relying on a fund that hasn't been tested in a real bear market.

Income is small: the trailing yield was 0.74% as of October 27, 2026, paid twice a year, which is below the 0.80% expense ratio. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.

Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).