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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$37.98

$5.83 B

0.00%

0.65%

Vitals

YTD Return

9.8%

1 yr return

-10.6%

3 Yr Avg Return

9.1%

5 Yr Avg Return

11.0%

Net Assets

$5.83 B

Holdings in Top 10

42.4%

52 WEEK LOW AND HIGH

$37.7
$32.60
$44.79

Expenses

OPERATING FEES

Expense Ratio 0.65%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 23.00%

Redemption Fee 1.00%


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$37.98

$5.83 B

0.00%

0.65%

BAFWX - Profile

Distributions

  • YTD Total Return 9.8%
  • 3 Yr Annualized Total Return 9.1%
  • 5 Yr Annualized Total Return 11.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.08%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Brown Advisory Sustainable Growth Fund
  • Fund Family Name
    Brown Advisory Funds
  • Inception Date
    Jun 29, 2012
  • Shares Outstanding
    95165894
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    David Powell

Fund Description

The Brown Advisory Sustainable Growth Fund seeks to achieve capital appreciation. To achieve its objective, the Fund invests at least 80% of the value of its net assets (plus any borrowings for investment purposes) in equity securities of sustainable domestic companies. The Fund invests primarily in the securities of medium and large capitalization companies that Brown Advisory LLC
(the “Adviser”) believes (1) have the fundamental strengths (strong financials and business models) to outperform their peers and deliver above-average earnings growth over a market cycle, (2) effectively implement Sustainable Business Advantages (described below), and (3) have attractive valuations.
The investment process starts with fundamentals. The Adviser seeks companies with strong business models and prospects for growth, strong cash flow generation, and a solid track record of execution, among other qualities. In addition, the Adviser views Environmental, Social and Governance (“ESG”) factors as relevant to fundamentals and seeks to understand their impact on companies in which the Fund may invest. The Adviser leverages proprietary ESG research that seeks to understand ESG risk management practices and sustainable opportunities for every security added to the portfolio. However, at the Adviser’s discretion, the Fund is permitted to make an investment without a written ESG assessment on file at the time of purchase, as long as the Adviser believes the security meets the Fund’s sustainability criteria.
As part of assessing sustainable opportunities, the Adviser seeks to identify sustainable companies which are defined as possessing at least one of the following:
(1) Companies whose internal sustainability strategies lead to one or more Sustainable Business Advantages (such as revenue growth, cost improvements, or enhanced franchise value), or that lead to reduced risk to a company’s prospects for growth;
(2) Companies whose products have a competitive advantage as a result of sustainability drivers such as resource efficient design or manufacturing; or
(3) Companies whose products or services offer solutions to long-term sustainability challenges.
Sustainable companies, by their nature, seek to manage risks, not only related to negative environmental and social outcomes, but also ones that might materially impair their financial results. The Fund expects to have low to no exposure to companies that have received international sanctions, derive significant direct revenue from gambling or the production of alcohol, tobacco, weapons, or fossil fuel extraction. However, the Fund may hold companies which the Adviser believes are indirectly or insignificantly exposed to these business activities.
The Adviser pursues active, strategic engagement with companies and other stakeholders in an effort to enhance due diligence and monitor ESG risks and sustainable opportunities that may impact the investment thesis. The Adviser’s ESG research team monitors the companies in the portfolio on an on-going basis, and additional monitoring is also undertaken through a quarterly review of certain ESG characteristics of the Fund.
Additionally, while driving impact is not an input to the investment thesis, the Adviser often finds an overlap between Sustainable Business Advantage with positive ESG outcomes.
Due diligence on a company’s financial fundamentals and Sustainable Business Advantages is conducted collaboratively among the Fund’s portfolio managers, the Adviser’s ESG research team, and fundamental analysts. Finally, the Adviser uses scenario analyses to assess the company’s valuation and potential for appreciation or downside risk.
In addition to the Adviser’s proprietary and qualitative ESG analysis, the Adviser has access to ESG-related data from third-party providers. The Adviser does not solely rely on third-party data or recommendations when making investment decisions for the Fund. The ESG evaluation process considers risks and opportunities holistically, meaning a security will not necessarily be excluded from investment due to any one particular factor if the overall analysis results in a favorable evaluation by the Adviser. The Adviser is permitted to invest in a security if it determines the security has favorable sustainable opportunities and an acceptable ESG risk profile notwithstanding contrary third party data or third party recommendations. Investing on the basis of ESG criteria is qualitative and subjective by nature, and there can be no assurance that the process utilized by the Fund’s vendors or any judgment exercised by the Adviser will reflect the beliefs or values of any particular investor. The data informing this process is derived from a variety of sources, including the companies themselves and third party sources. The Fund’s vendors provide ESG-related data, research and rating services. The ESG-related data, research and rating services include information related to potentially controversial business exposure, ESG metrics such as emissions and diversity data and controversy reporting. The Adviser believes its process is reasonably designed, although data and qualitative information are inherently subject to interpretation, restatement, delay and omission outside the Adviser’s control.
The Adviser considers each proxy voting proposal related to holdings in the Fund on its own merits and an independent determination is made based on the relevant facts and circumstances, including both fundamental and ESG factors. Proposals regarding environmental, social and governance issues, in general, are supported, especially when they would have a clear and direct positive financial effect on shareholder value and would not be burdensome or impose unnecessary or excessive costs on the issuer.
Medium and large capitalization companies are, according to the Adviser, those companies with market capitalizations generally greater than $2 billion at time of purchase. The Fund may also invest a portion of the portfolio in equity securities of small market capitalization companies. The equity securities in which the Fund principally invests are common stocks. Furthermore, the Fund may invest up to 15% of assets in foreign securities (including American Depositary Receipts (“ADRs”)), which may include emerging markets securities. ADRs may be either sponsored or unsponsored. The Fund also may invest in real estate investment trusts (“REITs”).
The Adviser may sell a security or reduce its position for a number of reasons, including:
The fundamental investment or sustainability thesis is violated;
A more attractively priced security is found; or
The security becomes overvalued relative to the Adviser’s long-term expectations.
In order to respond to adverse market, economic, political, or other conditions, the Fund may assume a temporary defensive position that is inconsistent with its investment objective and principal investment strategy and invest without limit in cash and prime quality cash equivalents such as prime commercial paper and other money market instruments. A defensive position, taken at the wrong time, may have an adverse impact on the Fund’s performance. The Fund may be unable to achieve its investment objective during the employment of a temporary defensive measure.
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BAFWX - Performance

Return Ranking - Trailing

Period BAFWX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.8% -44.2% 26.6% 27.48%
1 Yr -10.6% -98.5% 124.6% 11.59%
3 Yr 9.1%* -76.8% 26.3% 5.41%
5 Yr 11.0%* -60.8% 23.2% 3.07%
10 Yr 13.0%* -35.0% 18.9% 5.58%

* Annualized

Return Ranking - Calendar

Period BAFWX Return Category Return Low Category Return High Rank in Category (%)
2022 -30.9% -98.8% 81.6% 35.71%
2021 13.0% -39.5% 48.7% 5.78%
2020 11.6% -13.0% 34.8% 18.53%
2019 7.6% -27.1% 10.6% 8.86%
2018 0.2% -15.9% 33.2% 8.37%

Total Return Ranking - Trailing

Period BAFWX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.8% -44.2% 26.6% 27.48%
1 Yr -10.6% -98.5% 124.6% 12.62%
3 Yr 9.1%* -76.8% 32.9% 6.53%
5 Yr 11.8%* -60.8% 22.9% 3.59%
10 Yr 14.6%* -35.0% 19.0% 1.99%

* Annualized

Total Return Ranking - Calendar

Period BAFWX Return Category Return Low Category Return High Rank in Category (%)
2022 -30.9% -98.8% 81.6% 35.87%
2021 13.0% -39.5% 48.7% 5.78%
2020 11.6% -13.0% 34.8% 18.53%
2019 7.6% -16.8% 10.6% 8.86%
2018 0.9% -15.9% 35.6% 8.74%

NAV & Total Return History


BAFWX - Holdings

Concentration Analysis

BAFWX Category Low Category High BAFWX % Rank
Net Assets 5.83 B 189 K 222 B 22.43%
Number of Holdings 34 1 3509 85.67%
Net Assets in Top 10 2.47 B -1.37 M 104 B 25.46%
Weighting of Top 10 42.43% 9.4% 100.0% 69.14%

Top 10 Holdings

  1. Microsoft Corp 4.82%
  2. Visa Inc Class A 4.82%
  3. UnitedHealth Group Inc 4.73%
  4. American Tower Corp 4.52%
  5. Alphabet Inc Class A 4.40%
  6. Danaher Corp 4.33%
  7. NVIDIA Corp 4.11%
  8. Thermo Fisher Scientific Inc 4.03%
  9. Intuit Inc 3.89%
  10. Verisk Analytics Inc 3.76%

Asset Allocation

Weighting Return Low Return High BAFWX % Rank
Stocks
98.27% 0.00% 107.71% 55.34%
Cash
1.73% -10.83% 100.00% 42.23%
Preferred Stocks
0.00% 0.00% 4.41% 72.10%
Other
0.00% -2.66% 17.15% 73.32%
Convertible Bonds
0.00% 0.00% 1.94% 69.82%
Bonds
0.00% -1.84% 98.58% 69.13%

Stock Sector Breakdown

Weighting Return Low Return High BAFWX % Rank
Technology
41.44% 0.00% 69.82% 23.36%
Healthcare
23.71% 0.00% 39.76% 2.75%
Financial Services
10.20% 0.00% 43.06% 40.84%
Consumer Cyclical
10.20% 0.00% 62.57% 83.21%
Real Estate
4.60% 0.00% 29.57% 6.79%
Communication Services
4.48% 0.00% 66.40% 91.68%
Industrials
3.26% 0.00% 30.65% 81.07%
Basic Materials
2.12% 0.00% 22.00% 30.23%
Utilities
0.00% 0.00% 16.07% 78.09%
Energy
0.00% 0.00% 41.09% 85.88%
Consumer Defense
0.00% 0.00% 25.50% 95.50%

Stock Geographic Breakdown

Weighting Return Low Return High BAFWX % Rank
US
98.27% 0.00% 105.43% 20.50%
Non US
0.00% 0.00% 54.22% 95.96%

BAFWX - Expenses

Operational Fees

BAFWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.65% 0.01% 7.09% 75.75%
Management Fee 0.55% 0.00% 1.50% 34.16%
12b-1 Fee N/A 0.00% 1.00% 12.98%
Administrative Fee N/A 0.00% 1.02% N/A

Sales Fees

BAFWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 8.50% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

BAFWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 1.00% 5.00% 79.25%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BAFWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 23.00% 0.00% 316.74% 30.36%

BAFWX - Distributions

Dividend Yield Analysis

BAFWX Category Low Category High BAFWX % Rank
Dividend Yield 0.00% 0.00% 6.81% 72.16%

Dividend Distribution Analysis

BAFWX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Monthly Annually

Net Income Ratio Analysis

BAFWX Category Low Category High BAFWX % Rank
Net Income Ratio -0.08% -6.13% 2.90% 32.26%

Capital Gain Distribution Analysis

BAFWX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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BAFWX - Fund Manager Analysis

Managers

David Powell


Start Date

Tenure

Tenure Rank

Jun 29, 2012

9.93

9.9%

David is a co-portfolio manager of the Large-Cap Sustainable Growth strategy. He joined Brown Advisory in 1999 as an equity research analyst with responsibility for identifying and recommending investment opportunities in the industrials and energy sectors. Prior to joining the firm, David held a position in investor relations at T. Rowe Price.

Karina Funk


Start Date

Tenure

Tenure Rank

Jun 29, 2012

9.93

9.9%

Karina is a partner and co-portfolio manager of the Brown Advisory Large-Cap Sustainable Growth strategy (LCSG) and chair of sustainable investing. Karina joined Brown Advisory in 2009 and has extensive investment experience spanning early-stage ventures to debt and public equities. Karina is a respected leader in the investment community having been profiled in many leading financial publications, including Barron’s inaugural list of 100 Most Influential Women in Finance. She and co-portfolio manager David Powell have developed a distinctive fundamental research methodology focused on finding companies at the intersection of positive fundamental and sustainable business drivers. Karina was previously an equity research analyst for Winslow Management Co, a principal at Charles River Ventures, and an investment manager at the Massachusetts Renewable Energy Trust.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 54.45 8.08 2.92