Burney U.S. Factor Rotation ETF

Burney U.S. Factor Rotation ETF (BRNY) is an actively managed fund of about 70 U.S.-listed stocks. It shifts money between large and small companies, and between growth and value stocks, using models from its sub-adviser, The Burney Company. Its 0.79% expense ratio is more than double the 0.35% charged by the fund with the most similar holdings. It also trades heavily, with portfolio turnover of 222%.

• Over the year to Oct 27, 2026, BRNY returned +15.5%.
• Its worst full calendar year was 2025 (+22.0%); its best was 2024 (+28.9%).
• The deepest fall in its price history was 19.2% (Feb 18, 2025 to Apr 8, 2025), recovered by Jun 24, 2025.

As of Jul 31, 2026, the fund held 70 securities; the ten largest made up 47.66% of assets.

By sector

• Over the three months to Jul 31, 2026, investors withdrew a net $3.8M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +5.59%, +1.68%, -1.58%.

BRNY does not track an index. The Burney Company runs a "factor rotation" approach. A factor is a trait, such as company size or how cheap a stock looks, that can help explain returns. Burney has seen that small and value stocks have tended to beat large and growth stocks over the long run, but not in every period. So it studies rolling 36-month return gaps between small and large stocks, and rolling 12-month gaps between growth and value stocks, to judge which style may lead next. That sets the fund's target weights. The fund always keeps some money in each of four groups: large, small, growth and value.

Next, Burney screens out American Depositary Receipts, companies worth less than about $1 billion, and thinly traded stocks. A computer model scores the rest on valuation, growth, profitability, quality and price trends. It also uses monthly signals from an outside research firm. That firm applies machine learning to "digital footprint" data, such as website traffic, app use and social media activity, to estimate whether a company will beat revenue forecasts. A portfolio optimizer then picks highly rated stocks that fit the targets.

The result is concentrated and changes often. As of July 31, 2026, the top 10 of 70 stocks made up 47.7% of assets, led by NVIDIA (7.8%), Expedia (6.3%) and Alphabet (6.0%). The fund held no derivatives.

• BRNY charges 0.79% a year, versus an average of 0.35% for the similar funds below.
• Using the prospectus's standard example, $10,000 invested would cost about $81 in the first year and $978 over 10 years (assuming a 5% annual return).

BRNY is an actively managed, concentrated, high-turnover stock fund with a 0.79% fee and a short history, so it fits better as a smaller add-on than as a foundation.

BRNY launched on October 13, 2022, just after the 2022 bear market hit bottom. That means it has no record through the 2008, 2020 or 2022 downturns. Its deepest drop was 19.2%, from February 18 to April 8, 2025. It recovered by June 24, 2025, about 2.5 months later. Every full calendar year so far has been positive, but that record is short and came mostly in a rising market. Its one-year beta of 1.1 means it has moved slightly more than the market, so someone who had to sell in a slump could lock in losses. Income is minimal: the yield was 0.18% as of October 27, 2026, paid twice a year. In the SEC's standard example, $10,000 would cost about $81 in fees over one year and $978 over ten. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.