BAFE vs ERNZ
Brown Advisory Flexible Equity ETF vs TrueShares Active Yield ETF
Which is better, BAFE or ERNZ?
BAFE has been ahead.
BAFE has a lower expense ratio. BAFE led over 1Y and the full window. ERNZ is less concentrated, with 22.5% of the fund in its ten largest positions against 45.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BAFE | ERNZ |
|---|---|---|
| Expense Ratio | 0.54%Best | 3.25% |
| AUM | $1.8B | $6M |
| Dividend Yield | 0.27% | 8.71% |
| Holdings | 90 | 144 |
| Volatility (annualized) | 11.8% | 9.5%Best |
| Max Drawdown | -18.4% | -14.2%Best |
| $10,000 over 1.3 years | $10,168Best | $9,523 |
| Top 10 Weight | 45.4% | 22.5%Best |
| Fund Family | Brown Advisory | TrueShares |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 18, 2024 | Apr 30, 2024 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 204 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. BAFE has data through Oct 14, 2026 and ERNZ through Mar 24, 2026.
Volatility and max drawdown, and the $10,000 over 1.3 years row, are measured over the window both funds cover: Nov 18, 2024 to Mar 24, 2026 (1.3 years).
Risk: Volatility and Drawdowns
BAFE has been the more volatile fund, with annualized monthly volatility of 11.8% compared with 9.5% for ERNZ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -18.4% for BAFE and -14.2% for ERNZ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.53. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BAFE charges 0.54% per year while ERNZ charges 3.25%. On a $10,000 position that is $54 vs $325 annually, a gap of $271 per year that compounds over a long holding period. On income, BAFE currently yields 0.27% against 8.71% for ERNZ.
Holdings Overlap
3.0% of BAFE's money is in holdings ERNZ also owns. 1.7% of ERNZ's money is in holdings BAFE also owns.
BAFE and ERNZ share little of their money.
The two holdings books were reported 244 days apart, BAFE as of Oct 1, 2026 and ERNZ as of Jan 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
2 positions in common, counted across the 42 positions we hold weights for in BAFE and 141 in ERNZ, against full books of 90 and 144.
What only one of them owns
Our book lists 130 positions for ERNZ that do not appear in our book for BAFE (90.7% of the fund), and 35 for BAFE that do not appear in ERNZ (79.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of BAFE and ERNZ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BAFE or ERNZ?
BAFE has an expense ratio of 0.54% while ERNZ charges 3.25%. BAFE is the cheaper option, by $271 a year on a $10,000 investment.
Which is riskier, BAFE or ERNZ?
BAFE has been the more volatile fund at 11.8% annualized versus 9.5% for ERNZ. Worst drawdown: BAFE -18.4% vs ERNZ -14.2%.
Should I hold both BAFE and ERNZ?
BAFE and ERNZ have a monthly-return correlation of 0.53, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between BAFE and ERNZ?
3.0% of BAFE's money is in holdings ERNZ also owns. 1.7% of ERNZ's is in holdings BAFE also owns. They hold 2 positions in common, counted across the 42 positions we hold weights for in BAFE and 141 in ERNZ.
Which pays a higher dividend, BAFE or ERNZ?
BAFE yields 0.27% while ERNZ yields 8.71%, so ERNZ currently pays the higher dividend yield.
Is ERNZ better than BAFE?
BAFE has a lower expense ratio. BAFE led over 1Y and the full window. ERNZ is less concentrated, with 22.5% of the fund in its ten largest positions against 45.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.