ETF Evaluator:
Cambria Global Asset Allocation ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Global Moderate Allocation Over the Last Year
| 27.3% | State Street® Multi-Asset Real Ret ETF (RLY) |
| 26.9% | VanEck Real Assets ETF (RAAX) |
| 19.1% | Cambria Global Asset Allocation ETF (GAA) |
| 17.0% | Global Moderate Allocation () |
| 16.9% | Arrow Dow Jones Global Yield ETF (GYLD) |
Risk
Index
Risk
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ETF Details
Cambria Global Asset Allocation ETF Overview
Cambria Global Asset Allocation ETF (GAA) is an actively managed Allocation Global Moderate Allocation exchange-traded fund (ETF). Cambria launched the ETF in 2014.
The investment seeks income and capital appreciation.
Under normal market conditions, the fund invests at least 80% of its total assets in affiliated and unaffiliated exchange-traded funds ("ETFs") and other exchange-traded products ("ETPs") (collectively, "underlying vehicles") that provide exposure to various (i) investment asset classes, including equity and fixed income securities, real estate, commodities, and currencies, and (ii) factors such as value, momentum, and trend investing.
About Cambria Global Asset Allocation ETF (GAA)
There are 2 members of the management team with an average tenure of 6.78 years: Mebane Faber (2014) and Jonathan Keetz (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg Global Aggregate TR USD index with a weighting of 100% and MSCI ACWI NR USD index with a weighting of 100%. Cambria Global Asset Allocation ETF has 31 securities in its portfolio. The top 10 holdings constitute 57.7% 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.
Cambria Global Asset Allocation ETF is part of the Allocation global asset class and is within the Allocation ETF group. Cambria Global Asset Allocation ETF has 46.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 21.1% There is 30.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 33.5% (16.9% domestic bond, 16.6% foreign bond and 0.0% convertible bond). Cambria Global Asset Allocation ETF has 10.1% of the portfolio in cash.
Assets Under Management
The fund has $72 million in total assets, which is below the $553 million average for the Global Moderate Allocation 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.
GAA 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 Cambria Global Asset Allocation ETF expense ratio is average compared to funds in the Global Moderate Allocation category. Cambria Global Asset Allocation ETF has an expense ratio of 0.40%, which is 49% lower than its category average, making the fund expense ratio grade a B. 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. Cambria Global Asset Allocation ETF has a portfolio turnover rate of 7%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 35% for the Global Moderate Allocation category.
Recently, in the month of July 2026, Cambria Global Asset Allocation ETF returned 1.5%, which earned it a grade of B, as the Global Moderate Allocation category had an average return of 0.4%. 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.
Cambria Global Asset Allocation ETF has a trailing yield of 3.48%, which is below the 4.27% category average.
The fund normally distributes its income quarterly 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.
Cambria Global Asset Allocation ETF Grades
Year to date, the ETF has returned 10.3%, 2.3 percentage points better than the category, which translates into a grade of B. The fund has returned 19.1% over the past year (grade of B), 12.4% over the past three years (grade of B) and 6.6% per year over the past five years (grade of D) and 7.4% per year over the past 10 years (grade of C).
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GAA 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 |
|
| GAA Return (NAV) | 1.5% | 0.8% | 19.1% | 12.4% | 6.6% | 7.4% |
| GAA Return (Price) | 1.1% | -0.2% | 18.6% | 12.0% | 6.3% | 7.3% |
| NAV +/- Price Return | 0.335% | 0.999% | 0.482% | 0.334% | 0.306% | 0.076% |
| Global Moderate Allocation Avg | 0.4% | 0.2% | 17.0% | 12.6% | 7.4% | 6.9% |
| GAA Grade (NAV) | B | D | B | B | D | C |
| +/- Category (NAV) | 1.1% | 0.6% | 2.1% | -0.2% | -0.8% | 0.4% |
| GAA Tax-Cost Ratio | na | na | 1.5% | 1.5% | 1.8% | 1.5% |
GAA Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GAA Return (NAV) | 10.3% | 18.0% | 5.7% | 8.7% | -8.7% | 10.5% | 9.5% | 15.1% | -6.8% | 15.2% | 8.6% |
| GAA Return (Price) | 8.6% | 18.7% | 6.7% | 7.7% | -8.4% | 11.2% | 9.1% | 15.1% | -7.1% | 15.1% | 9.0% |
| NAV +/- Price Ret | -0.163% | 0.043% | 0.164% | -0.114% | -0.030% | 0.065% | -0.038% | -0.2% | 4.4% | -0.7% | 3.9% |
| Global Moderate Allocation Avg | 8.0% | 16.9% | 9.2% | 10.4% | -9.2% | 16.1% | 0.1% | 16.9% | -7.9% | 12.9% | 10.8% |
| GAA Grade (NAV) | B | B | D | D | B | F | A | D | B | B | D |
| +/- Category | 2.3% | 1.0% | -3.4% | -1.7% | 0.5% | -5.6% | 9.3% | -1.7% | 1.0% | 2.3% | -2.2% |
| Risk Measures | |
| Beta: | 0.74 |
| R-Squared: | 78% |
| Standard Deviation: | 7.9% |
| Category Risk Index: | 0.85 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.64 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 3.5% |
| Total Assets: | $ 73 Mil |
| Share Class Assets: | $ 73 Mil |
| Turnover: | 7.0% |
| Expense Ratio: | 0.40% |
| Index Fund: | No |
| Index Tracked: | Bloomberg Global Aggregate TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 11.7 years | |||
| Average Tenure: 6.8 years | |||
| Managers (Year): Faber Mebane (2014), Keetz Jonathan (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 31 |
| % in Top 10 Holdings: | 57.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 46.9% |
Portfolio Allocation |
|
| Domestic Stock: | 21.1% |
| Foreign Stock: | 30.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 16.9% |
| Foreign Bond: | 16.6% |
| Convertible Bond: | 0.0% |
| Other: | 5.0% |
| Cash: | 10.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Cambria |
| Phone Number: | 855-383-4636 |
| Website: | www.cambriafunds.com |
| Inception Date: | December 9, 2014 |
Expenses and Fees
| Expense Ratio (%): | 0.40% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.78% |
