Cambiar Aggressive Value ETF (CAMX)

Overview of Cambiar Aggressive Value ETF (NYSEARCA: CAMG)

Profile:

• This actively managed exchange-traded fund (ETF) seeks capital appreciation by investing in U.S.-listed equities across all market capitalizations.
• The fund focuses on value stocks, aiming to capitalize on undervalued opportunities based on its research-driven approach.
• Its investment strategy involves bottom-up fundamental analysis to identify companies with strong potential for long-term growth regardless of their sector or industry.

Objective:

• The primary objective of CAMG is to deliver superior long-term returns for investors through its focus on undervalued stocks and active management.

Issuer:

• Cambiar Investors, LLC, established in 1992, serves as the issuer of CAMG.
  • Reputation and Reliability: Cambiar Investors boasts a strong track record in the market, managing over $8.5 billion in assets. The firm has consistently been recognized for its investment expertise and performance.
  • Management: The portfolio is managed by Cambiar's experienced investment team, led by Portfolio Managers Jason Subotky and David King. Both managers have extensive experience in fundamental analysis and value investing.

Market Share:

• CAMG accounts for a relatively small market share within the aggressive value ETF space, with approximately 0.17% as of October 2023.

Total Net Assets:

• CAMG currently holds approximately $77.4 million in total net assets.

Moat:

• The ETF's competitive advantage lies in its unique and disciplined investment approach.
• Cambiar utilizes a rigorous research process and focuses on identifying companies with hidden value potential, often overlooked by other investors.
• Additionally, the active management style allows for greater flexibility to adapt to changing market conditions.

Financial Performance:

• Historical Performance: Since its inception in 2019, CAMG has delivered an annualized return of approximately 6.44%.
• Benchmark Comparison: The ETF has outperformed its benchmark, the Russell 2500 Value Index, over the same period.

Growth Trajectory:

• CAMG has experienced steady growth in its assets under management, indicating increasing investor confidence in its strategy.
• The value investing approach is expected to remain relevant in various market conditions, suggesting potential for continued growth.

Liquidity:

• Average Trading Volume: CAMG's average daily trading volume is around 5,500 shares, indicating moderate liquidity.
• Bid-Ask Spread: The bid-ask spread is typically tight, averaging around 0.02%, suggesting relatively low trading costs.

Market Dynamics:

• Economic Indicators: The ETF's performance can be affected by economic indicators like interest rates, inflation, and economic growth.
• Sector Growth Prospects: The performance of individual stocks within the portfolio can be impacted by sector-specific growth trends.
• Current Market Conditions: Market volatility and overall investor sentiment can influence the ETF's value.

Competitors:

• Key competitors in the aggressive value ETF space include IVAL, DFAT, and VBR.
• CAMG stands out due to its distinct bottom-up research approach and focus on identifying hidden value opportunities.

Expense Ratio:

• CAMG's expense ratio is 0.74%, which is considered relatively low compared to other actively managed ETFs in its category.

Investment Approach and Strategy:

• CAMG actively manages its portfolio, utilizing a fundamental analysis approach to identify undervalued companies across various sectors.
• The fund primarily invests in U.S.-listed equities, with a focus on mid- and small-cap companies.

Key Points:

• Actively managed, bottom-up approach targeting undervalued U.S. equities.
• Strong track record with outperformance compared to its benchmark.
• Focus on hidden value opportunities often overlooked by other investors.
• Experienced management team with a proven value investing approach.
• Relatively low expense ratio compared to competitors.

Risks:

• Volatility: CAMG is categorized as a high-risk ETF due to its focus on smaller companies and its active management strategy.
• Market Risk: The portfolio's performance is directly tied to the performance of the underlying stocks, which can be influenced by various market factors.
• Style Risk: Value investing may underperform other investment styles in certain market environments.

Who Should Consider Investing:

• Investors with a long-term investment horizon and a tolerance for volatility.
• Those seeking exposure to undervalued U.S. equities with the potential for above-average returns.
• Individuals who prefer an actively managed approach with a focus on fundamental analysis.

Fundamental Rating Based on AI:

• AI analysis assigns a rating of 7.5 out of 10 to CAMG.
• This rating considers factors like the fund's performance history, management team, and expense ratio.
• The analysis suggests that CAMG possesses solid fundamentals overall, with potential for future growth.

Resources and Disclaimers:

• Data sources: Morningstar, ETFdb, Cambiar Investors website.
• This information is for educational purposes only and should not be considered financial advice.