At a glance
EYLD charges 0.63% a year, above the 0.43% average of the 6 funds most like it (the 5th cheapest of 7). It has $857.3M in assets, the 7th largest of that group; it paid 4.59% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +25.1% with distributions reinvested (S&P 500: +11.5%), 2nd of those 7 funds; over three years it returned +23.9% a year. At its worst it fell 36.7% in the 2020 crash (S&P 500: 33.7%) and 29.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 17 months after the lows. Its ten largest positions make up 14.2% of the fund, out of 118 in all.
The short version
Cambria Emerging Shareholder Yield ETF (EYLD) is an actively managed fund. It owns emerging-market stocks that its quantitative model picks for high "shareholder yield", meaning cash returned through dividends, share buybacks and debt paydowns, combined with low valuations. Stocks are weighted roughly equally rather than by company size. The fund paid a 4.59% trailing yield as of October 27, 2026. Its 0.63% expense ratio is above the 0.43% average of similar funds.
Price history
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EYLD +25.1% 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 | |
|---|---|---|---|---|---|---|
| EYLD official prospectus, to Dec 31, 2025 | — | +28.52% | — | +8.77% | — | +10.24% |
| EYLD price data to Oct 27, 2026 | +23.4% | +25.1% | +23.9% | +11.1% | +11.3% | +11.5% |
- Over the year to Oct 27, 2026, EYLD returned +25.1%, 2nd of 7 among similar funds.
- Its 5-year annualized return was +11.1% and its 10-year +11.3%.
- In the 2020 COVID crash it fell 36.7% and regained its old high 7.8 months after the low.
- Its worst full calendar year was 2022 (-16.1%); its best was 2017 (+34.9%).
- The deepest fall in its price history was 41.9% (Jan 26, 2018 to Mar 18, 2020), recovered by Dec 14, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +23.4% | — |
| 2025 | +29.4% | +28.52% |
| 2024 | +4.7% | +5.66% |
| 2023 | +18.9% | +17.97% |
| 2022 | -16.1% | -14.94% |
| 2021 | +11.3% | +11.73% |
| 2020 | +10.2% | +9.15% |
| 2019 | +22.0% | +21.84% |
| 2018 | -13.8% | -14.39% |
| 2017 | +34.9% | +38.25% |
| 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 | Lost 36.6% over that stretch · deepest drop along the way 36.7%, back to its old high 7.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 26.8% over that stretch · deepest drop along the way 29%, back to its old high 16.7 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.0800 | |
| 2025 | $2.0700 | +27.8% |
| 2024 | $1.6200 | -7.4% |
| 2023 | $1.7500 | -10.3% |
| 2022 | $1.9500 | -25.0% |
| 2021 | $2.6000 | +150.0% |
| 2020 | $1.0400 | -23.8% |
| 2019 | $1.3640 | -37.7% |
| 2018 | $2.1900 | +128.1% |
| 2017 | $0.9600 |
What's inside
As of Jul 31, 2026, the fund held 118 securities; the ten largest made up 14.19% of assets.
| Holding | Weight | |
|---|---|---|
| XTB SA | 1.97% | |
| KB Financial Group Inc | 1.52% | |
| Asustek Computer Inc | 1.44% | |
| Sinotruk Hong Kong Ltd | 1.42% | |
| Holy Stone Enterprise Co Ltd | 1.36% | |
| Transcend Information Inc | 1.35% | |
| COPASA | 1.32% | |
| GS Holdings Corp | 1.29% | |
| KT&G Corp | 1.26% | |
| Turkiye Petrol Rafinerileri AS | 1.24% | |
| Piraeus Bank SA | 1.20% | |
| Magyar Telekom Telecommunicati | 1.19% | |
| Krung Thai Bank PCL | 1.19% | |
| CSPC Pharmaceutical Group Ltd | 1.18% | |
| Utechzone Co Ltd | 1.15% |
By country
Taiwan 20.49%China 17.53%South Korea 15.15%South Africa 10.93%Brazil 7.39%By asset type
Stocks 98.71%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $73.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +5.94%, -3.05%, +1.30%.
How it works
EYLD does not track an index. Its adviser, Cambria Investment Management, picks stocks with its own quantitative model. The fund puts at least 80% of net assets in stocks and depositary receipts of emerging-market companies. A depositary receipt is a certificate that trades like a share and represents a foreign company's stock. Cambria sets the list of eligible countries, which includes Taiwan, South Korea, Brazil, South Africa, Poland, Turkey and Chinese companies traded in Hong Kong. It updates the list each year.
Stocks are chosen in two steps. First, the model keeps the top 20% of companies by dividends plus net share buybacks. Then it adds debt paydowns and value measures such as price-to-earnings, price-to-book, price-to-sales, price-to-free-cash-flow and EV/EBITDA, which compares a company's total value with its operating earnings. The 100 stocks with the strongest combined score are selected. Cambria aims to weight them equally, but weights drift as prices move. No single country may exceed 30% of assets.
Cambria adjusts holdings from time to time to bring weights and country limits back in line. Turnover was 30%. As of July 31, 2026, the fund held 118 stocks and no derivatives, and its top 10 holdings made up only 14.19% of assets. Many of its markets are closed during US trading hours. As a result, the ETF's price can drift further from the value of its holdings than a US stock fund's price would.
What it really costs
- EYLD charges 0.63% a year, versus an average of 0.43% for the similar funds below (5th of 7, cheapest first).
- Of that, 0.59% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $64 in the first year and $786 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| EYLD | $64 | $202 | $351 | $786 |
In a retirement portfolio
It offers emerging-market income and a value tilt, but its deep drops make it better suited to a small slice of a portfolio than to the center of one.
EYLD launched in July 2016, so it has no record from the 2008 financial crisis. In the 2020 COVID crash it fell 36.7% in about a month, then took about 7.8 months from the low to regain its peak. In the 2022 bear market it dropped 29% and needed about 16.7 months after the low, until February 20, 2024, to recover. Its worst calendar year was 2022, when it lost 14.94%. Its deepest drop was 41.9%, from January 2018 to March 2020. Anyone who had to sell shares for spending money during those periods would have locked in losses.
The fund paid a 4.59% trailing yield, in quarterly distributions, as of October 27, 2026, but companies can cut their dividends. Its 0.63% expense ratio is above the 0.43% peer average. Past results don't predict future ones, 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 a small emerging-markets stake tilted toward cheap companies that return cash, rather than one weighted by company size.
- Income seekers comfortable with quarterly payouts that vary; the trailing yield was 4.59% as of October 27, 2026.
- Those who want wide diversification: the top 10 of 118 holdings made up only 14.19% of assets as of July 31, 2026.
Look elsewhere if
- Cost-focused investors: EYLD's 0.63% expense ratio is well above AVEM's 0.33% and EMXC's 0.25%.
- Anyone who may need to sell during a slump; the fund fell 41.9% between January 2018 and March 2020.
- Investors who want to limit China exposure: Chinese companies were 17.53% of assets as of July 31, 2026, while EMXC excludes China.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| EYLD this fund | — | 0.63% | $857.3M | +25.1% | +23.9% |
| DEM WisdomTree Emerging Markets High Dividend F… | 16% | 0.63% | $3.87B | +20.4% | +19.1% |
| FNDE Schwab Fundamental Emerging Markets Equity … | 12% | 0.39% | $10.31B | +15.0% | +22.8% |
| AVEM Avantis Emerging Markets Equity ETF | 6% | 0.33% | $28.05B | +14.1% | +21.5% |
| ESGE iShares ESG Aware MSCI EM ETF | 6% | 0.26% | $6.91B | +15.2% | +23.2% |
| EMXC iShares MSCI Emerging Markets ex China ETF | 6% | 0.25% | $24.92B | +27.3% | +24.6% |
| EEM iShares MSCI Emerging Markets ETF | 6% | 0.72% | $31.21B | +12.7% | +20.3% |
Questions investors ask
Does EYLD pay monthly dividends?
No. EYLD pays distributions quarterly, not monthly. Over the 12 months to October 27, 2026, it paid $2.12 per share, a trailing yield of 4.59%. The income comes from dividends paid by the fund's emerging-market stocks. It can rise or fall as companies change their payouts and as foreign currencies move against the US dollar. The fund also favors companies that buy back shares and pay down debt, but that cash doesn't show up in the yield.
What is EYLD's expense ratio?
EYLD's expense ratio is 0.63% a year, which includes a 0.59% management fee, according to its prospectus filed August 28, 2026. The SEC's standard example assumes $10,000 invested and a 5% annual return. On that basis, costs would be about $64 in the first year, $351 over five years and $786 over ten. That is above the 0.43% average of similar funds. AVEM charges 0.33% and EMXC 0.25%, while EEM charges 0.72%.
EYLD vs DEM: what's the difference?
Both charge 0.63% and lean toward high-yielding emerging-market stocks, but they share only 16% of their holdings. EYLD scores companies on dividends, buybacks and debt paydowns plus value measures, and aims for equal weights. DEM, from WisdomTree, focuses on high dividends. It is also much larger: about $3.9 billion in net assets as of June 30, 2026, against about $857 million for EYLD as of July 31, 2026. As of October 27, 2026, EYLD returned 25.1% over one year and 23.9% a year over three years. DEM returned 20.4% and 19.1%.
Is EYLD good for retirement?
EYLD can play a small, higher-risk role in a retirement portfolio rather than serve as a core holding. It paid a 4.59% trailing yield, in quarterly distributions, as of October 27, 2026. But it is an emerging-market stock fund, and its price can swing sharply. It fell 36.7% in early 2020 and 29% in 2022. After the 2022 low, it took about 16.7 months to recover. Its 0.63% expense ratio is also above the peer average. Past results don't predict future ones.
What countries does EYLD invest in?
EYLD invests across emerging markets. As of July 31, 2026, Taiwan was the largest country at 20.49% of assets, followed by China (17.53%), South Korea (15.15%), South Africa (10.93%), Brazil (7.39%) and Poland (5.97%). Cambria limits any one country to 30%. The largest holdings were XTB of Poland, KB Financial Group of South Korea and Asustek Computer of Taiwan, each under 2% of assets.