Brandes U.S. Value ETF

The Brandes U.S. Value ETF (BUSA), listed on the Chicago Board Options Exchange (CBOE), is an actively managed exchange-traded fund launched on October 3, 2023, and advised by Brandes Investment Partners LP, a San Diego-based investment advisory firm with over 50 years of experience applying Benjamin Graham's value-investing philosophy. The fund seeks long-term capital appreciation by investing primarily in equity securities of U.S. companies with market capitalizations exceeding $5 billion, with at least 80% of its net assets deployed in U.S. corporate securities at the time of purchase. Employing a disciplined, research-driven, bottom-up approach, BUSA targets stocks perceived to be trading at a discount to their intrinsic value, with top sector concentrations in Healthcare, Financial Services, Technology, and Industrials. As of mid-2026, the fund manages approximately $293 million in assets, carries a net expense ratio of 0.60%, pays quarterly dividends with a yield of approximately 1.58%, and has been recognized by Morningstar as one of the "25 Best Large-Cap Stock ETFs to Buy Now."