Baron SMID Cap ETF Rebalances Portfolio with Additions of Spotify and Madison Air
The Baron SMID Cap ETF (BCSM) has undergone a portfolio reshuffle, notably adding Spotify and Madison Air to its holdings. Despite the tactical changes, the fund faced challenges during the third quarter of 2026, recording a 2.87% decline in Net Asset Value (NAV). While the quarterly performance was negative, the ETF managed to outperform its benchmark, the Russell 2500 Growth Index, which saw a more significant drop of 10.35%. However, on a year-to-date basis through September 30, the fund has lagged behind the index, posting a return of 0.44% against the benchmark's 7.28% gain.