RONB – Baron First Principles ETF – ETF Investment Strategy

Strategy

The investment seeks capital appreciation. The fund is a non‑diversified fund that, under normal circumstances, invests primarily in equity securities (including depositary receipts) of U.S. growth companies of any market capitalization. It is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
RONB	Baron First Principles ETF	ETF	Open	—	—	Dec 12, 2025	$344.98M	1.000%	—	—	—

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Baron First Principles ETF RONB Strategy

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