EA Bridgeway Ultra-Small Company Market ETF
Investment Objective
The EA Bridgeway Ultra-Small Company Market ETF (the “Fund”) seeks to provide long-term total return on capital, primarily through capital appreciation.
Investment Strategy
The Sub-Adviser’s investment process incorporates material environmental, social, and governance (“ESG”) information, when available, as a consideration in the ongoing assessment of potential portfolio securities. The Sub-Adviser uses ESG research and/or ratings information provided by third parties in performing this analysis and considering ESG risks. As with any consideration used in assessing portfolio securities, the Sub-Adviser may, at times, utilize ESG information to increase the weighting of an issuer with a good ESG record or decrease the weighting of an issuer with a poor ESG record. However, as ESG information is just one investment consideration, ESG considerations are not solely determinative in any investment decision made by the Sub-Adviser. ESG information for ultra-small companies may be limited, although the Sub-Adviser’s investment process incorporates this information when available.
Although the Fund seeks investments across a number of sectors, from time to time the Fund may have significant positions in particular sectors.
Team Managed
Fund Basics
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The Morningstar RatingTM (“star rating”) is calculated for funds with at least a three-year history.
Overall Morningstar Rating for BUSM is based on risk adjusted total return out of 462 Small Cap Value Funds.
Exchange-traded and open-end mutual funds are combined into a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance.
The top 10% of funds in each fund category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar RatingTM is a weighted average of the performance figures associated with a fund’s 3-, 5-, and 10-year (if applicable) Morningstar RatingTM metrics.
In the Small Cap Value category, BUSM Fund was rated 3 stars among 462 funds for the 3-year period ending 12/31/2025, 4 stars among 439 funds for the 5-year period ending 12/31/2025, and 2 stars among 362 funds for the 10-year period ending 12/31/2025.
Star ratings are relative to a peer group and do not necessarily mean the fund had high or positive total returns. Morningstar updates its star ratings monthly. Past performance does not guarantee future results.
NAV and Market Price
Month-End Performance
Quarter-End Performance
Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. YTD is year-to-date and ITD is inception-to-date.
The fund is adopting the performance of the Bridgeway Funds, Inc., Omni Tax-Managed Small-Cap Value Fund (the “Predecessor Mutual Fund”) since its inception – December 31, 2010, as the result of the reorganization of the Predecessor Mutual Fund into the Fund (the “Reorganization”). Prior to the Reorganization, the Fund had not yet commenced operations.
Historical Premium / Discount
Basis Points (bps): A unit of measure used in quoting yields, changes in yields or differences between yields. One basis point equals 0.01%, or one-hundredth of a percent of yield and 100 basis points equals 1%.
The Premium/Discount shows the difference between the daily market price of the Fund’s shares and the Fund’s net asset value (“NAV”). The table shows the premium or discount of the mid-point price as a percentage of the NAV as well as the number of trading days the Fund traded within the given premium/discount range.
Completed Calendar Quarters of Current Year and Most Recent Completed Calendar Year
Fund Distributions
Fund Holdings
Fund Documentation
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