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PZLV

GradeDNew York Stock Exchange Arca

Pzena U.S. Large Cap Value ETF

Active Equity · Pzena · Inception 2026-03-31

$30.53+0.00 (+0.00%)

As of Sep 23, 2026, 9:46 AM EDT

Market opens at 9:30 AM ET.History starts Apr 1, 2026.History starts Apr 1, 2026.History starts Apr 1, 2026.
Intraday session: down, 12 prints from 30.83 to 30.53. Range 30.50 to 30.87. Use the arrow keys to read each point.$30.60$30.70$30.80$30.90Sep 17Sep 18Sep 21Sep 22Sep 23
Expense ratio
0.60%
Fund size
$70M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
0M sh
NAV per share
$30.58
52W range
low $24.99high $31.94

The ETF.net PZLV Grade

D

40/ 100

Rank 43 of 66 in US Active Value⁠

Confidence Medium

Six-pillar profile for PZLV. Scores out of 100: Cost 35, Risk 85, Mission not scored, Tradability 11, Holdings 45, Durability 19. Strongest: Risk (85). Weakest: Tradability (11). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 35
    Category rank44/66 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 85
    Category rank2/62 · top 3%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 11
    Category rank62/66 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 45
    Category rank46/66 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    FScore 19
    Category rank65/66 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on PZLV

ETF.net Research

DPzena has run classic value money for institutions for years; PZLV puts that discipline in an ETF. Bottom-up research on beaten-down U.S. large caps, with the Russell 1000 Value as a yardstick rather than a blueprint.

Stated mandate

The Fund seeks long-term capital appreciation. It primarily invests in U.S. large-cap value stocks selected through fundamental, bottom-up research and a classic value approach.

Why people hold it

  1. 01Genuinely active: holdings come from fundamental, bottom-up research on U.S. large-cap value names, with the Russell 1000 Value as the benchmark, not the blueprint.
  2. 02A value specialist, not a generalist bolting on a value sleeve. Research-driven deep value across U.S. and international mandates is the firm's core business.preqin.com
  3. 03Plain plumbing: a U.S. stock portfolio in a standard ETF wrapper. No leverage, no derivatives overlay, no structural quirks flagged.

Worth knowing

  1. 01At 0.60% a year it runs above the typical fund in its value peer group and multiples of index-built rivals like AVLV (0.15%) and DFLV (0.21%). Human research costs money.
  2. 02Launched in 2026, so the live record is short, and lightly traded shares can mean wider gaps between bid and ask. Watch the spread when you trade.
  3. 03The stated goal is long-term capital appreciation, not income. This is a total-return vehicle rather than a dividend stream.

PZLV Holdings

As of Sep 20, 2026, 9:30 AM
Asset class
Stocks
Holdings
—
Top-10 weight
39%
Largest holding
HUM5.5%

Geography

  • United States89.57%
  • Germany2.80%
  • Canada2.68%
  • Ireland2.03%
  • Bermuda1.59%
  • United Kingdom1.32%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001HUMHUMANA, INC.5.55%10,180$4M300
002BAXBAXTER INTERNATIONAL, INC.4.69%143,766$3M187
003CRBGCOREBRIDGE FINANCIAL, INC.4.68%94,735$3M142
004SWKSSKYWORKS SOLUTIONS, INC.4.18%32,323$3M265
005DGDOLLAR GENERAL CORP.3.69%20,830$3M316
006LEALEAR CORP.3.58%20,595$3M186
007CVSCVS HEALTH CORP.3.37%26,353$2M377
008METMETLIFE, INC.3.29%23,875$2M316
009UHSUNIVERSAL HEALTH SERVICES, INC.3.22%12,577$2M227
010CDWCDW CORP.3.13%14,818$2M271
011WFCWELLS FARGO & CO.3.11%25,226$2M380
012CTSHCOGNIZANT TECHNOLOGY SOLUTIONS CORP.3.10%35,312$2M354
013COFCAPITAL ONE FINANCIAL CORP.3.06%10,701$2M350
014RHIROBERT HALF, INC.2.92%55,383$2M143
015FMSFRESENIUS MEDICAL CARE AG2.76%88,224$2M9

Showing 1–15 of 40 holdings

PZLV Performance

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

PZLV$10,858
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. PZLV $10,858. SPY $10,415. Use the arrow keys to read each point.$9,667$10,578$11,489Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 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 PZLV. Periods over one year show the average yearly return.
PeriodPZLV
Year to dateFund launched this year—
1 month−2.8%
3 months+8.6%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per 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 PZLV
YearReturn barPZLV
2026 YTD+21.5%

History from Apr 1, 2026

PZLV in the news

ETF.net Research hasn’t filed on PZLV yet — coverage lands here as it’s written.

PZLV 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 Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Mar 2026. No distributions yet.

PZLV 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.
−0.30
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.

PZLV Cost

Expense ratio0.60%
  • The middle half of US Active Value funds
  • Median 0.55%

42 of the 66 US Active Value funds charge less.

PZLV costs $60.00 a year on $10,000. The median US Active Value fund costs $55.00.