At a glance
ENDW charges 0.22% a year, below the 0.86% average of the 7 funds most like it (the cheapest of 8). It has $157.9M in assets, the 8th largest of that group; it paid 0.9% of its price in distributions over the past 12 months, quarterly. Its ten largest positions make up 67.5% of the fund, out of 70 in all.
The short version
Cambria Endowment Style ETF (ENDW) is an actively managed fund of funds. It spreads money across stocks, bonds, real estate, commodities and trend-following strategies, mostly through other Cambria ETFs. It may use futures to lift total exposure to as much as 150% of assets. It lists a 0.22% expense ratio, but its price record is short and shows nothing about how it holds up in a bear market.
Price history
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ENDW — 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 | |
|---|---|---|---|---|---|---|
| ENDW price data to Oct 27, 2026 | +3.9% | — | — | — | — | — |
- The deepest fall in its price history was 3.8% (Sep 3, 2026 to Sep 30, 2026), not yet recovered.
| 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
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Aug 31, 2026, the fund held 70 securities; the ten largest made up 67.48% of assets. It also reported 3.75% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Fund held | Weight | |
|---|---|---|
| Cambria Foreign Shareholder Yield ETF | 12.98% | |
| Cambria Emerging Shareholder Yield ETF | 10.86% | |
| Cambria Value and Momentum ETF | 9.50% | |
| Cambria Global Value ETF | 5.61% | |
| State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 5.50% | |
| Cambria Shareholder Yield ETF | 5.43% | |
| Cambria Chesapeake Pure Trend ETF | 5.28% | |
| Cambria Global Real Estate ETF | 5.00% | |
| iMGP DBi Managed Futures Strategy ETF | 4.52% | |
| State Street SPDR S&P Global Natural Resources ETF | 2.80% | |
| CSX Corp | 1.24% | |
| MongoDB Inc | 1.12% | |
| JPMORGAN CHASE & CO. | 1.07% | |
| Vertex Pharmaceuticals Inc | 1.04% | |
| iShares Russell 3000 ETF | 1.02% |
By country
United States 95.89%Ireland 0.86%Taiwan 0.3%Switzerland 0.18%Germany 0.09%By asset type
Stocks 97.32%What changed recently
- Over the three months to Aug 31, 2026, investors added a net $9.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -1.05%, +2.27%, +3.13%.
How it works
ENDW does not track an index. Cambria Investment Management, the fund's sub-adviser, picks other U.S.-listed ETFs plus some individual stocks. The prospectus says Cambria expects more than 50% of exposure to be in stocks. Smaller amounts go to bonds, to real assets such as real estate, commodities and currencies, and to hedge and trend strategies such as managed futures. The prospectus calls the risk profile aggressive.
Two rule-based approaches drive the choices. Valuation screens, such as the price-to-earnings ratio (share price divided by profit per share), tilt the fund toward cheaper markets and away from expensive ones. Momentum and trend-following models buy assets whose prices are rising and sell those that are falling. The mix changes with conditions, and the prospectus lists portfolio turnover of 66%. As of August 31, 2026, the fund had 70 holdings. The largest were Cambria Foreign Shareholder Yield ETF (12.98%), Cambria Emerging Shareholder Yield ETF (10.86%) and Cambria Value and Momentum ETF (9.5%).
The fund may also use futures. These are contracts that give large market exposure for a small deposit. Total exposure is expected to run between 100% and 150% of assets, and that leverage magnifies both gains and losses. As of August 31, 2026, the fund held one futures position, in 10-year U.S. Treasury notes. Holders also bear a share of the underlying funds' fees.
What it really costs
- ENDW charges 0.22% a year, versus an average of 0.86% for the similar funds below (1st of 8, cheapest first).
- Of that, 0% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $23 in the first year and $280 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ENDW | $23 | $71 | $124 | $280 |
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
Its mix of foreign value stocks, commodities, real estate and trend strategies may complement a core stock-and-bond portfolio, though its record is short.
ENDW could add holdings that often move differently from a U.S. stock index fund: foreign and emerging-market value stocks, commodities, global real estate and managed-futures (trend-following) funds. Its record is short. The fund launched April 10, 2025, but the price history covered here starts June 9, 2026. So it shows nothing for the 2008, 2020 or 2022 downturns and no full calendar year. Its deepest drop was 3.8%, from September 3 to September 30, 2026, and it had not recovered as of October 27, 2026. With over half its exposure in stocks and possible futures leverage, much larger drops could come. That is a risk for anyone who must sell in a bad year. It yielded 0.9% over the 12 months to October 27, 2026, paid quarterly. The SEC example puts costs at $23 for the first year on $10,000. 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 wanting one fund that mixes foreign value stocks, commodities, global real estate and trend-following strategies, at a 0.22% expense ratio.
- People comfortable with an active, rules-based fund whose mix shifts with prices and valuations, with portfolio turnover of 66%.
- Those looking for a diversifier next to a U.S. stock index fund, accepting that seven of its ten largest holdings were Cambria ETFs.
Look elsewhere if
- Anyone wanting a long track record: the price history covered here starts June 9, 2026, with no 2008, 2020 or 2022 downturn to study.
- Income seekers: the trailing 12-month yield was 0.9% as of October 27, 2026, paid quarterly.
- Investors avoiding leverage or reliance on one manager: futures can lift exposure to 150% of assets, and Cambria runs most of the largest holdings.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| ENDW this fund | 0.22% | $157.9M | — | — |
| 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 ENDW invest in?
Mostly other ETFs. As of August 31, 2026, about 75% of its assets sat in other funds and about 23% in individual companies, across 70 holdings. The largest were Cambria Foreign Shareholder Yield ETF (12.98%), Cambria Emerging Shareholder Yield ETF (10.86%) and Cambria Value and Momentum ETF (9.5%). Outside funds included a commodity ETF (CERY) and the iMGP DBi Managed Futures Strategy ETF. Individual stocks included CSX, MongoDB, JPMorgan Chase and Vertex Pharmaceuticals.
What is ENDW's expense ratio?
ENDW's expense ratio is 0.22%, according to its prospectus filed March 25, 2026, which lists a 0% management fee. In the SEC's standard example, $10,000 invested with a 5% yearly return would cost about $23 over one year, $71 over three years, $124 over five and $280 over ten. Because ENDW owns other funds, the prospectus notes that it bears a share of those funds' fees.
Does ENDW pay dividends?
Yes, quarterly. Over the 12 months to October 27, 2026, it paid $0.31 per share, a yield of 0.9%. The fund seeks both income and growth, and that modest yield shows income is only part of the goal. Payouts can vary because they depend on what the underlying ETFs and stocks pay out.
Does ENDW use leverage?
It can. The prospectus says the fund may buy exchange-traded futures, which are contracts that control a large amount of an asset for a small margin deposit. In normal markets it expects total exposure of 100% to 150% of assets, through Treasury futures and underlying ETFs. That can magnify both gains and losses. It is not a daily-reset leveraged ETF. As of August 31, 2026, its only futures position was a small one in 10-year U.S. Treasury notes.
Is ENDW a buffer ETF like BUFR?
No. ENDW sometimes appears next to buffer ETFs such as FT Vest Laddered Buffer ETF (BUFR), but the two work differently. Buffer funds use options to soften losses within a set range, and in exchange they cap gains. ENDW has no buffer or cap. It is a multi-asset fund of funds. BUFR charges 0.95%, against 0.22% for ENDW. BUFR returned 11.6% over one year as of October 27, 2026, and ENDW has no one-year record to compare.