BAFE vs TENM
Brown Advisory Flexible Equity ETF vs iShares Large Cap 10% Target Buffer Mar ETF
Which is better, BAFE or TENM?
BAFE has been ahead.
TENM has a lower expense ratio. BAFE led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BAFE | TENM |
|---|---|---|
| Expense Ratio | 0.54% | 0.50%Best |
| AUM | $1.7B | $46M |
| Dividend Yield | 0.27% | 0.27% |
| Holdings | 87 | 16 |
| YTD Return | +10.96%Best | +9.80% |
| 1Y Return | +13.58%Best | +10.66% |
| Volatility (annualized) | 13.2% | 6.7%Best |
| Max Drawdown | -12.7% | -3.6%Best |
| $10,000 over 1.1 years | $11,375Best | $11,250 |
| Fund Family | Brown Advisory | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 18, 2024 | Oct 21, 2025 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Oct 22, 2025 to Nov 11, 2026 (1.1 years).
BAFE vs TENM growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.1 years both funds cover.
BAFE vs TENM Performance
Brown Advisory Flexible Equity ETF (BAFE) is an ETF from Brown Advisory and iShares Large Cap 10% Target Buffer Mar ETF (TENM) is an ETF from iShares by BlackRock (US). Over the past year BAFE returned +13.58% while TENM returned +10.66%. Year to date, BAFE is up 10.96% versus a gain of 9.80% for TENM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BAFE has been the more volatile fund, with annualized monthly volatility of 13.2% compared with 6.7% for TENM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -12.7% for BAFE and -3.6% for TENM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BAFE charges 0.54% per year while TENM charges 0.50%. On a $10,000 position that is $54 vs $50 annually, a gap of $4 per year that compounds over a long holding period. On income, BAFE currently yields 0.27% against 0.27% for TENM.
Holdings Overlap
We hold position weights for 42 holdings in BAFE and 2 in TENM, totalling 98.5% and 104.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 42 positions we hold weights for in BAFE and 2 in TENM, against full books of 87 and 16.
You are not choosing between two funds in isolation.
Whichever of BAFE and TENM you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BAFE or TENM?
BAFE has an expense ratio of 0.54% while TENM charges 0.50%. TENM is the cheaper option, by $4 a year on a $10,000 investment.
Which performed better, BAFE or TENM?
Over the past year BAFE returned +13.58% vs +10.66% for TENM, so BAFE leads on 1-year performance. Over the longest common window we track (1 years), BAFE annualized +12.43% vs +11.30% for TENM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BAFE or TENM?
BAFE has been the more volatile fund at 13.2% annualized versus 6.7% for TENM. Worst drawdown: BAFE -12.7% vs TENM -3.6%.
Should I hold both BAFE and TENM?
BAFE and TENM have a monthly-return correlation of 0.93, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, BAFE or TENM?
BAFE yields 0.27% while TENM yields 0.27%, so BAFE currently pays the higher dividend yield.
Is TENM better than BAFE?
TENM has a lower expense ratio. BAFE led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93. Which one suits a particular account depends on what it is for. This is information, not a recommendation.