BKDV vs TVAL

BKDVBBNY Mellon Dynamic Value ETF

TVALAT. Rowe Price Value ETF

In short

BKDV BNY Mellon's 2024 swing at active value: roughly 90 hand-picked US stocks, priced below what the typical active equity fund charges. A young fund with a very old asset manager behind it.

TVAL T. Rowe Price's value discipline in an ETF wrapper since 2023: roughly 150 hand-picked large-cap names judged undervalued on multiple financial measures, benchmarked to the Russell 1000 Value, at about half the fee of the typical active equity ETF.

Stated mandate

BKDV The fund seeks long-term capital appreciation and invests principally in common stocks.

TVAL The fund seeks long-term capital appreciation through an actively managed portfolio primarily invested in common stocks.

Why people hold it

• BKDV At 0.60% a year, it undercuts the 0.65% median for active US equity funds. Not index-cheap, but you aren't paying a premium for the stock picking.
• Roughly 90 holdings, so every name has to earn its slot. This is a concentrated value book chasing long-term capital appreciation, not a closet index wearing a value label.
• Sits in the top quartile of its active US equity peer group, helped by downside behavior that has been steadier than most rivals over its short life.
• Already a billion-dollar-plus fund despite launching in 2024, backed by one of the oldest names in US asset management.

• TVAL 0.33% a year, roughly half the median for active US equity ETFs. Real stock picking without the classic active price tag.troweprice.com
• Genuine conviction, not closet indexing: about 150 large-cap, value-oriented stocks chosen by fundamental research, measured against the Russell 1000 Value.troweprice.com
• Sits in the top tier of a peer group of hundreds of active US equity ETFs, one of the stronger all-round builds in a crowded aisle.

Worth knowing

• BKDV Launched November 2024. The risk picture rests on about a year of live data, and short records tell you less than long ones.
• Systematic peers cost a fraction of this: DFAU charges 0.12%, AVLC 0.15%. The active premium here is several times their fee.
• Moderately traded rather than one of the busiest tickers in the category, so spreads can run wider than on big index products.

• TVAL Cheap for an active fund, not cheap outright. Systematic peers like DFAU (0.12%) and AVLC (0.15%) cover US equity for less than half the cost.
• Launched in 2023, so the ETF's own record is short next to the long-running value funds it competes with.troweprice.com
• Built for long-term capital growth, not a paycheck: distributions are annual, and the fund discloses that part of a payout can be return of capital.

Full BKDV profile⁠

Full TVAL profile⁠