BasisRoute my position

Brown Advisory

Brown Advisory Flexible Equity ETF (BAFE)

OpenListed ETF; anyone can buy shares. The in-kind seed window closed at launch. Rev. Rul. 2026-20 (2026-09-28) treats a prearranged post-seed swap into a materially different portfolio as taxable. Notice 2026-62 says it does not address seeding with assets that fit the ETF's thesis.

Claim this listing
Assets
$1.73B
Fee a year
0.54%
Minimum
Not disclosed
Tracking error
Not disclosed
Investors
Not disclosed
Open to
Anyone
Lock-up
None (shares trade daily)
Holdings
Not disclosed
Benchmark
Not disclosed
Custodians
Brown Brothers Harriman
Access
Sign up directly, through an advisor
Launched
2024
Assets, in detail
As of 2026-10. Net assets $1,731.3M on 2026-10-12 (351.tax). Launch in-kind seed $913.4M on 2024-11-15 (seed from N-CSR or filings). Seeding type: proprietary (clients of one RIA).
Fee schedule
0.54% net, 0.57% gross (351.tax filings data).
Other costs
Trading spread and brokerage costs.
Tracking error, method
Not disclosed.

Assets over time

$0$500M$1B$1.50B$2B2024-112026-102024-11: $913M. Launch in-kind seed2026-10: $1.73B. Net assets (351.tax)$1.73B

Sources

Checked 2026-10. Confidence: high.

Where to get it

The same product costs a different amount through each door. The all-in fee adds the access provider's own fee to the product fee. Placement fees, financing, and fund expenses are extra.

ThroughTheir feeAll-in feeMinimumOnboarding and queueStatus
Direct from Brown AdvisoryManager0%0.54%Not disclosedExchange-traded daily; in-kind seeding only at launchOpen

Other §351 etfs