ETF Evaluator:
EA Bridgeway Aggressive Investors ETF (BAGX)
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Best Performing in Large Blend Over the Last Year
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ETF Details
EA Bridgeway Aggressive Investors ETF Overview
EA Bridgeway Aggressive Investors ETF (BAGX) is an actively managed U.S. Equity Large Blend exchange-traded fund (ETF). Empowered Funds, LLC launched the ETF in 1994.
The investment seeks to exceed the stock market total return (primarily through capital appreciation) at a level of total risk roughly equal to that of the stock market over longer periods of time (three year intervals or more).
The fund invests in a diversified portfolio of common stocks of companies of any size that are listed on the New York Stock Exchange, NYSE American and NASDAQ. It may invest in stocks for which there is relatively low market liquidity, as periodically determined by the Adviser based on the stock's trading volume.
About EA Bridgeway Aggressive Investors ETF (BAGX)
There are 4 members of the management team with an average tenure of 14.24 years: Elena Khoziaeva (2005), Christine Wang (2024), John Montgomery (1994) and Jacob Pozharny (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 2000 TR USD index with a weighting of 100%. EA Bridgeway Aggressive Investors ETF has 88 securities in its portfolio. The top 10 holdings constitute 29.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
EA Bridgeway Aggressive Investors ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. EA Bridgeway Aggressive Investors ETF has 5.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.8% There is 5.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). EA Bridgeway Aggressive Investors ETF has 0.9% of the portfolio in cash.
Assets Under Management
The fund has $196 million in total assets, which is below the $13 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BAGX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The EA Bridgeway Aggressive Investors ETF expense ratio is above average compared to funds in the Large Blend category. EA Bridgeway Aggressive Investors ETF has an expense ratio of 0.73%, which is 76% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. EA Bridgeway Aggressive Investors ETF has a portfolio turnover rate of 61%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 158% for the Large Blend category.
Recently, in the month of July 2026, EA Bridgeway Aggressive Investors ETF returned -0.9%, which earned it a grade of D, as the Large Blend category had an average return of -0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
EA Bridgeway Aggressive Investors ETF has a trailing yield of 0.33%, which is below the 1.16% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
EA Bridgeway Aggressive Investors ETF Grades
Year to date, the ETF has returned 12.9%, 3.3 percentage points better than the category, which translates into a grade of A. The fund has returned 21.4% over the past year (grade of A), 23.9% over the past three years (grade of A) and 12.3% per year over the past five years (grade of B) and 11.4% per year over the past 10 years (grade of F).
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BAGX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BAGX Return (NAV) | -0.9% | 4.9% | 21.4% | 23.9% | 12.3% | 11.4% |
| BAGX Return (Price) | -0.7% | 5.1% | 21.7% | 24.0% | 12.4% | 11.4% |
| NAV +/- Price Return | -0.199% | -0.211% | -0.244% | -0.083% | -0.045% | -0.022% |
| Large Blend Avg | -0.8% | 3.7% | 17.5% | 17.4% | 11.2% | 13.6% |
| BAGX Grade (NAV) | D | B | A | A | B | F |
| +/- Category (NAV) | -0.0% | 1.2% | 3.9% | 6.4% | 1.2% | -2.3% |
| BAGX Tax-Cost Ratio | na | na | 6.0% | 2.4% | 2.0% | 1.4% |
BAGX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BAGX Return (NAV) | 12.9% | 18.1% | 35.7% | 23.1% | -22.4% | 19.9% | 14.3% | 21.9% | -22.4% | 18.4% | 19.5% |
| BAGX Return (Price) | 13.1% | 18.1% | 35.7% | 23.1% | -22.4% | 19.9% | 14.3% | 21.9% | -22.4% | 18.4% | 19.5% |
| NAV +/- Price Ret | 0.018% | 0.000% | 0.000% | 0.000% | 0.000% | 0.000% | 0.000% | 0.0% | 0.0% | 0.0% | 0.0% |
| Large Blend Avg | 9.5% | 15.3% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| BAGX Grade (NAV) | A | B | A | C | F | F | D | F | F | F | A |
| +/- Category | 3.3% | 2.8% | 13.9% | 0.2% | -5.3% | -7.0% | -4.0% | -7.8% | -17.3% | -3.1% | 8.1% |
| Risk Measures | |
| Beta: | 1.14 |
| R-Squared: | 85% |
| Standard Deviation: | 16.1% |
| Category Risk Index: | 1.20 |
| Category Risk Rating: | High |
| Total Risk Index: | 1.32 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 0.3% |
| Total Assets: | $ 197 Mil |
| Share Class Assets: | $ 197 Mil |
| Turnover: | 61.0% |
| Expense Ratio: | 0.73% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 32.0 years | |||
| Average Tenure: 14.2 years | |||
| Managers (Year): Montgomery John (1994), Khoziaeva Elena (2005), Wang Christine (2024), Pozharny Jacob (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 88 |
| % in Top 10 Holdings: | 29.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 5.3% |
Portfolio Allocation |
|
| Domestic Stock: | 93.8% |
| Foreign Stock: | 5.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -0.0% |
| Cash: | 0.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Empowered Funds, LLC |
| Phone Number: | 800-661-3550 |
| Website: | www.valueshares.com |
| Inception Date: | August 5, 1994 |
Expenses and Fees
| Expense Ratio (%): | 0.73% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.41% |
