Baron SMID Cap ETF (BCSM)

The Baron SMID Cap ETF (BCSM) is an actively managed equity fund from Baron Capital, the New York-based asset manager founded by Ron Baron.

The fund invests primarily in small and mid-sized companies, the segment often called SMID cap. Baron's managers look for businesses with open-ended growth opportunities, durable competitive advantages and strong management, often in areas such as technology, health care, consumer services and financials, and they select stocks through bottom-up fundamental research rather than following an index.

Consistent with the firm's long-term philosophy, the managers aim to hold positions for many years and allow successful companies to grow within the portfolio. The ETF format offers this growth-oriented smaller-company strategy in a vehicle that trades on the exchange throughout the day.