Baron Technology ETF Q1 2026 Shareholder Letter

Baron Technology ETF declined roughly in line with its benchmark, the MSCI ACWI Information Technology Index. Performance was driven by relative strength in Lumentum Holdings, Taiwan Semiconductor Manufacturing, and Coherent, offset by weakness in Broadcom, Amazon.com, and Tesla. The update is a routine fund performance recap with limited likely market impact.

Analysis

Baron Technology ETF declined roughly in line with its benchmark, the MSCI ACWI Information Technology Index. Performance was driven by relative strength in Lumentum Holdings, Taiwan Semiconductor Manufacturing, and Coherent, offset by weakness in Broadcom, Amazon.com, and Tesla. The update is a routine fund performance recap with limited likely market impact.