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Cambria Launches ETF Focused on Dividends, Debt Paydowns, and Share Buybacks

Guggenheim to close a dim sum bond ETF, and updated filings on proposed emerging-markets ETFs from Emerging Global Advisors and Krane Funds. Plus, the week's best- and worst-performing funds.

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On May 14, Cambria Investment Management, which subadvises the AdvisorShares-issued, actively managed exchange-traded fund  Cambria Global Tactical ETF (GTAA), rolled out an actively managed ETF of its own.

Cambria Shareholder Yield ETF (SYLD) is the first of what appears to be a planned suite of "shareholder-yield" ETFs from the firm. Research by Cambria's chief investment officer Mebane Faber shows that dividend yields alone may not be the best predictor of companies' performance. Instead, Faber's research suggests that companies ranking highly on a combination of three factors--dividends, share repurchases, and debt paydowns--tend to provide better overall shareholder yields than those solely with high dividend yields.

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Robert Goldsborough does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.