Shareholder Yield is here!

/Shareholder Yield is here!

Shareholder Yield is here!

By | 2017-08-18T16:57:04+00:00 May 14th, 2013|Value Investing Research|2 Comments

Cambria Funds is out with an interesting ETF.

Here is the fact sheet:


At 59bps, this fund is low-cost, tax-efficient, and likely to produce some excess returns over time.

Jack and I have done academic research on the central concept behind this strategy–and the evidence suggests that it works!

Click below to access the paper:

Enhancing the Investment Performance of Yield-Based Strategies by Wesley Gray, J_2013-05-14_07-23-56

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About the Author:

Wes Gray
After serving as a Captain in the United States Marine Corps, Dr. Gray earned a PhD, and worked as a finance professor at Drexel University. Dr. Gray’s interest in bridging the research gap between academia and industry led him to found Alpha Architect, an asset management that delivers affordable active exposures for tax-sensitive investors. Dr. Gray has published four books and a number of academic articles. Wes is a regular contributor to multiple industry outlets, to include the following: Wall Street Journal, Forbes,, and the CFA Institute. Dr. Gray earned an MBA and a PhD in finance from the University of Chicago and graduated magna cum laude with a BS from The Wharton School of the University of Pennsylvania.