The average annual name turnover in an BRIGHTON portfolio is approximately 15%.
If a stock’s thesis is unchanged, BRIGHTON tends to trade around the periphery. If a stock’s share price has fallen in the market due to short-term controversy, BRIGHTON may increase its position (providing the thesis is unchanged). If a stock is overhyped, BRIGHTON will trim the position to take profits. Trading in both profitable and losing investments that do not have thesis changes is for the purposes of reallocating into names with higher upside to the valuation target. As a result, individual security turnover numbers are higher and can range between 60-75%. Note: This only applies to BRIGHTON’s actively managed ETFs. The index ETFs are designed to track an index.
For more information, please read the BRIGHTON ETF Trust Annual Report and the ETF prospectus, available on our Investor Resources page.