The portfolio is built on a "shareholder yield" metric that combines dividend yield, share buybacks, and debt reduction. Going beyond simple high-dividend stocks, it holds quality emerging market companies that genuinely enhance shareholder value.

It suits value investors who want both the growth potential of emerging markets and high returns from shareholder distributions.

It is an actively managed ETF launched by Cambria in 2016.

From listed emerging market companies, the fund first selects those with the highest shareholder yield, then applies low valuation and financial soundness criteria to choose the final holdings. Weight caps are applied so the portfolio does not become concentrated in any single country or sector.

• A multi-dimensional yield metric that includes share buybacks and debt repayment
• Diversification across holdings through an equal-weighted approach

Assets under management (AUM) stand at $909.5M, and the expense ratio is 0.65% per year.

Because it uses an active strategy, its fees are somewhat higher than those of a typical index fund, but its refined filtering provides differentiated emerging market exposure.

Returns fluctuate with changes in emerging market currencies and with the trend toward stronger shareholder return policies among companies in those countries, and the fund is characterized by high sensitivity to external variables.

Fund flows are driven by the global interest rate environment and shifts in risk appetite, and the fund has continued to attract interest in a global market that increasingly emphasizes shareholder value.

The fund uses a multi-dimensional shareholder return metric to find undervalued quality stocks in emerging markets, but it comes with country-specific political risk and high volatility.

DFAE and CGDG in the table are alternatives focused on emerging market and global dividend growth, while SDIV specializes in ultra-high dividends. For those who want to apply a shareholder yield strategy to the US market, the same manager offers SYLD, and for broader exposure across developed markets, FYLD is a direct alternative. To focus more on emerging market dividend stocks, DGS and DEM are also worth considering.

These are the key factors to review when investing in emerging market shareholder return stocks. Changes in the regulatory environment of these countries and the ability of individual companies to generate cash flow are the key variables that determine sustainable returns.

Keep in mind that during liquidity crises or sharp capital outflows in emerging markets, declines can be relatively larger than those of core assets, and country-specific risks should always be considered.

This product can be a suitable strategic alternative for investors who aim to outperform the market by selecting quality emerging market stocks with strong dividends and share buybacks.