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Launched

Pzena International Value ETF

PZIVNYSE ArcaC

$29.45+0.26 (+0.89%)

As of Oct 13, 2026, 11:08 AM

C42/ 100

Rank 12 of 18 in International Active Value

C42/100Rank 12 of 18inInternational Active Value
Intraday session: up, 5 prints from 29.19 to 29.45. Range 29.19 to 29.48. Use the arrow keys to read each point.29.2529.3029.3529.4010 AM12 PM2 PM4 PM
Expense ratio
0.70%
Fund size
$15M
1Y total return
—
Yield · Last 12 months
—
Holdings
55
Avg volume · 30D
0M sh
NAV per share
$29.06
52W range
low $25.38high $30.86
Launched

The ETF.net PZIV Grade

Based on 4 of 6 pillars

C

Score 42 out of 100

Category
International Active Value⁠
Rank
12 of 18
Six-pillar profile for PZIV. Scores out of 100: Cost 32, Risk 98, Mission not scored, Tradability 13, Holdings not scored, Durability 25. Strongest: Risk (98). Weakest: Tradability (13). Based on 4 of 6 pillars.

Score 42 of 100 falls in the C 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.
    D32 out of 100
    Rank 11 of 18

  • 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.
    A98 out of 100
    Rank 1 of 17

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F13 out of 100
    Rank 18 of 18

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D25 out of 100
    Rank 17 of 18

Our read on PZIV

ETF.net Research

CPzena has run the same deep-value playbook for decades: buy good businesses when they're cheap and unloved. PZIV brings that process to non-US stocks, as one of the firm's first two ETFs after it entered the wrapper in 2026.

Stated mandate

The Fund seeks long-term capital appreciation.

Why people hold it

  1. 01Genuinely active, not a value screen in disguise: Pzena targets companies trading below their historically demonstrated earnings power and runs concentrated, high-conviction portfolios.globenewswire.com
  2. 02The mandate reaches past the usual developed-market roster, allowing significant foreign holdings and leaving the door open to emerging markets.
  3. 03A plain 1940 Act equity ETF chasing long-term capital appreciation. No leverage, no options overlay, just overseas stocks picked one at a time.

Worth knowing

  1. 01At 0.70%, it costs more than systematic international value options such as AVIV (0.25%) and AVDV (0.36%). That gap is the price of the stock picking.
  2. 02It launched in 2026, so the ETF track record starts there, and it is still a small, thinly traded fund where bid-ask spreads can widen.
  3. 03Concentrated deep value is a style bet: fewer names, cheaper names, and results that can look nothing like a broad international index.globenewswire.com

PZIV Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
55
Top-10 weight
30%
Largest holding
ACN3.4%
The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001ACNAccenture PLC3.36%2,452$513K339
002—Shell PLC3.32%10,034$506K3
003—Basf SE2.99%7,877$456K4
004—Teleperformance SE2.99%5,667$456K1
005—Publicis Groupe SA2.96%4,143$451K1
006—Sap SE2.94%2,093$449K5
007—Reckitt Benckiser Group PLC2.94%6,602$449K1
008—Galaxy Entertainment Group Ltd.2.89%107,876$442K1
009—Julius Bär Gruppe AG2.82%5,031$429K1
010—Michelin Sca2.79%11,392$426K1
011—Sanofi2.69%5,124$410K2
012—Suntory Beverage & Food Ltd.2.45%12,670$374K1
013—Daimler Truck Holding AG2.43%8,007$371K2
014—United Utilities Group PLC2.33%18,876$356K9
015—Evonik Industries AG2.32%14,801$354K1

Showing 1–15 of 55 holdings

PZIV Performance

Launched Mar 31, 2026

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.Not enough history yet.Not enough history yet.
PZIV$10,121
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. PZIV $10,121. SPY $10,332. Use the arrow keys to read each point.$9,581$10,174$10,767Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 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 PZIV. Periods over one year show the average yearly return.
PeriodPZIV
Year to dateFund launched this year—
1 month−3.4%
3 months+1.2%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, 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 PZIV
YearReturn barPZIV
2026 YTD+14.3%

History from Apr 1, 2026

PZIV in the news

Filtered to PZIV · International Active Value

PZIV 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 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Mar 2026. No distributions yet.

PZIV Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Mar 2026; fills in after 12 months
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.
—
Launched Mar 2026; fills in after 12 months
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.
—
Launched Mar 2026; fills in after 12 months
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.
0.50
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.

PZIV Cost

Expense ratio0.70%
  • The middle half of International Active Value funds
  • Median 0.66%

11 of the 18 International Active Value funds charge less.

PZIV costs $70.00 a year on $10,000. The median International Active Value fund costs $65.50.

Other funds in International Active Value

See others