Summary
Baron ETF Trust - Baron First Principles ETF is an ETF - a fund traded on an exchange like a stock - run by Baron. Positions inside: 23. The ten largest make up 79% of the fund.
- Yearly costs
- 1.00%
- Fund size
- $335.9M
- Positions
- 23
- Dividend yield
- 0.00%
- Running since
- 2025
What speaks for it
- Easy to buy and sell: about $13.3M changes hands a day.
What to watch
- The ten largest positions make up 79% of the fund, so its result rests on a few names.
- 43% of the fund is in one sector (Industrials).
- 87% of the fund is in one country (United States).
- Costs of 1.00% a year are above the middle of comparable funds (0.44%).
- A young fund: it has been running only since 2025.
A fund has no Bulios Score and no Fair Price of its own - both are computed from the results of a single company. This page shows what is inside the fund and what it costs instead.
Price
Performance
- 1 month
- +5.4%
- 3 months
- +17%
- This year
- -1.2%
- Avg. market cap
- $1.14T
- P/E
- 30.3x
- Forward P/E
- 27.1x
- P/S
- 4.6x
- P/B
- 6.0x
- P/FCF
- 16.1x
- EV/EBITDA
- -
- Dividend yield
- 0.50%
- ROIC
- -
- ROE
- 29.8%
- Gross margin
- -
- Operating margin
- 24.2%
- Net margin
- 16.5%
- Payout ratio
- 15.3%
- Net debt/EBITDA
- -
- Beta
- 0.74
Weighted average of the 21 largest companies, which make up 100% of the fund. Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
What is inside?
Concentrated- 1 SPSpaceX SPCX 39%
- 2 TSTesla TSLA 8.4%
- 3 FIFIGS, Inc. FIGS 6.3%
- 4 SHShopify Inc. SHOP.TO 4.6%
- 5 MSMSCI MSCI 4.3%
- 6 HHyatt Hotels Corporation H 3.7%
- 7 IBInteractive Brokers IBKR 3.4%
- 8 SCCharles Schwab SCHW 3.1%
- 9 63Spotify Technology S.A. 639.DE 2.9%
- 10 FDFactSet Research Systems Inc. FDS 2.8%
Positions in the fund: 23. The ten largest make up 79% of it.
Composition as of Oct 18, 2026.
Where is it spread?
One sector dominatesBy sector
- Industrials 43%
- Consumer cyclical 28%
- Financials 18%
- Technology 6.4%
- Communication services 2.9%
- Other 1.8%
By country
- United States 87%
- Canada 4.6%
- Sweden 2.9%
- Switzerland 1.9%
- Other countries 3.7%
By company size
- Mega cap 52%
- Large cap 32%
- Mid cap 16%
By the company's market value: Mega cap from $200B, Large cap from $10B, Mid cap from $2B, Small cap from $300M, Micro cap below $300M.
Largest sector: Industrials (43%). Largest country: United States (87%). Largest size group: Mega cap (52%).
What does it cost me?
Expensive- A year from $10,000
- $100
- Over 20 years
- $4,622
From every $10,000 invested the fund takes $100 a year. You do not pay it separately - it is taken out of the fund's value. Over 20 years at 5% yearly growth that adds up to about $4,622.
How has it done?
- Deepest drop
- -19%
- Yearly volatility
- 24%
It has traded for less than a year, too short to judge.
Does it pay dividends?
Yes, it pays out- Yield
- 0.00%
- Last payment
- $0.00
Over the last 12 months it paid $0.00 per share, which is 0.00% of today's price. The last payment was $0.00 on Sep 22, 2026.
Is it easy to buy and sell?
Very easy- Traded a day
- $13.3M
- Shares a day
- 538K
On an average day about $13.3M of the fund changes hands.
How expensive are the companies inside?
Rather expensive- P/E of the companies inside
- 30.3
- Average Bulios Score
- 63 out of 100
Weight by Bulios Fair Price
- Undervalued 24%
- Fairly valued 3.7%
- Overvalued 73%
On average the companies inside trade for 30.3 times their yearly profit. By Fair Price, 73% of the rated weight comes out as overvalued.
Counted from its largest companies (21), which make up 100% of the fund. Each company counts by its weight. We use the metrics, the Bulios Score and the Fair Price of the companies themselves.
Similar funds
Funds that hold much of the same. The overlap says how much of their weight they share with this fund.
| Fund | Domicile | Size | 1-year change | Dividends | ||
|---|---|---|---|---|---|---|
HE HEMI Hartford Equity Premium Income ETF | United States | 0.58% | $37.6M | - | Pays out | 44% |
SP SPAL GraniteShares ETF Trust - GraniteShares 2x Long SpaceX Daily ETF | United States | 1.50% | $33.2M | - | - | 39% |
XV XVSP First Trust Exchange-Traded Fund IV - FT Vest SPCX & Target Income ETF | United States | 0.85% | $1.53M | - | Pays out | 39% |
SP SPXE.TO Harvest SpaceX Enhanced High Income Shares ETF | Canada | 0.40% | $83.2M | - | Pays out | 39% |
MA MARS Roundhill ETF Trust - Roundhill Space & Technology ETF | United States | 0.75% | $40.1M | - | - | 27% |
NI NITE The Nightview Fund | United States | 1.25% | $33.8M | +6.2% | Reinvests | 26% |