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Launched

Federated Hermes MDT Large Cap Value ETF

FLCVNYSE ArcaFederated HermesA

$38.02+0.17 (+0.44%)

As of Nov 2, 2026, 3:59 PM ET

A70/ 100

Rank 9 of 66 in US Active Value

A70/100Rank 9 of 66inUS Active Value
Intraday session: up, 79 prints from 37.86 to 38.02. Range 37.98 to 38.20. Use the arrow keys to read each point.37.9038.1038.2010 AM12 PM2 PM4 PM
Expense ratio
0.32%*
Fund size
$235M
1Y total return
+26.5%
Yield · Last 12 months
0.68%
Holdings
130
Avg volume · 30D
49.3K sh
52W range
low $29.60high $38.29
Launched

*After a fee waiver that ends May 1, 2027. Without it: 0.43%.

The ETF.net FLCV Grade

Based on 5 of 6 pillars

A

Score 70 out of 100

Category
US Active Value⁠
Rank
9 of 66
Six-pillar profile for FLCV. Scores out of 100: Cost 82, Risk 73, Mission not scored, Tradability 57, Holdings 68, Durability 47. Strongest: Cost (82). Weakest: Durability (47). Based on 5 of 6 pillars.

Score 70 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A82 out of 100
    Rank 13 of 66

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A73 out of 100
    Rank 8 of 65

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B57 out of 100
    Rank 23 of 66

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B68 out of 100
    Rank 24 of 66

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C47 out of 100
    Rank 40 of 66

Our read on FLCV

ETF.net Research

In short

AFederated Hermes took MDT Advisers, its quant arm of 30-plus years, and bottled that process into an ETF: a bottom-up model re-ranks large-cap US stocks daily and holds roughly 120 of the undervalued ones.

Stated mandate

The fund seeks long-term capital appreciation by investing primarily in common stocks of large-cap U.S. companies that are considered undervalued.

Why people hold it

  • 0.32% net of a waiver through May 1, 2027 (0.43% gross), below the category median for active US value funds.
  • The engine is not new: MDT Advisers has run this bottom-up quant process for Federated Hermes for more than 30 years, built to strip out human bias.hermes-investment.com
  • Roughly 120 names, picked by a model that scores stocks on fundamental and technical factors daily rather than waiting on an index rebuild.hermes-investment.com
  • Stands among the stronger packages in a crowded field of active US value ETFs.

Worth knowing

  • Cheap for an active fund, not cheap outright: WTV charges 0.12% and AVLV 0.15%. The fee also reverts toward 0.43% gross if the waiver lapses after May 1, 2027.
  • Thinly traded with a modest asset base, so spreads can be wider than in the category's giants. Limit orders earn their keep.
  • Launched in 2024, so the ETF's own track record is short and spans only one stretch of market conditions.

FLCV Performance

Launched Jul 30, 2024

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
FLCV$12,648
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. FLCV $12,648. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FLCV. Periods over one year show the average yearly return.
PeriodFLCV
Year to date+21.7%
1 month+5.2%
3 months+2.4%
1 year+26.5%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FLCV
YearReturn barFLCV
2026 YTD+21.7%
2025+15.7%
2024+6.5%

History from Jul 31, 2024

FLCV in the news

FLCV Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
0.68%Last 12 months
Payout per share
$0.26Last 12 months
Last payment
$0.26 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

2024–2026

One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 31, 2024 $0.07; Dec 31, 2025 $0.26. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 31, 2025Jan 2, 2026$0.26
Dec 31, 2024Jan 2, 2025$0.07

$10,000 in FLCV 1 year ago paid $85.09 in dividends.

FLCV Risk

Risk pillarA73 out of 100Rank 8 of 65 in US Active Value
How much the fund’s monthly returns vary, scaled to a year.
11.8%
Annualised · 27 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.24
vs 3-month T-bills · 27 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−15.9%
26 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.74
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

FLCV Cost

Compare FLCV and WTV

Overpaying vs WTV, cheapest in US Active Value

$4,022

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FLCV 0.32%

    $6,542

  • WTV 0.12% Cheapest

    $2,520

$10,000
30 years

Cost over time

  • FLCV 0.32%
  • WTV 0.12%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530FLCV $6,542WTV $2,520

Year by year

YearFLCVWTVOverpaying
10$580$220$360
20$2,250$859$1,391
30$6,542$2,520$4,022
How the 0.32% is worked out

Full fee 0.43%− waiver 0.11%= you pay 0.32%

The waiver ends May 1, 2027. After that the fee is 0.43% unless Federated Hermes renews it. Source: prospectus, Apr 2026.

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