Cambria Large Cap Shareholder Yield ETF (LYLD)

Cambria Large Cap Shareholder Yield ETF is an actively managed U.S. equity fund from Cambria Investment Management, the Los Angeles-area firm founded by Mebane Faber.

The fund applies Cambria's shareholder yield approach to large-capitalization U.S. companies. Shareholder yield looks beyond dividends to measure the total cash a company returns to its owners, combining dividend payments, net share buybacks and reductions in debt. The fund screens for companies scoring highly on this measure and also considers valuation and other quality factors.

The resulting portfolio favors established businesses that consistently return capital to shareholders, and holdings are reviewed and rebalanced periodically according to Cambria's rules-based process.