COPY vs FPAG

COPYBTweedy, Browne Insider + Value ETF

FPAGBFPA Global Equity ETF

In short

COPY Copy the insiders: Tweedy, Browne's quant screens hunt cheap stocks where executives are buying their own shares, or the company is buying back its own. Global, all-cap, actively run, 0.80% net of a waiver through December 31, 2027.

FPAG FPA's contrarian value desk in ETF form: about 40 out-of-favor global large and mid caps, no sector constraints, 0.49% net of a waiver through January 31, 2027.

Stated mandate

COPY The Fund seeks long-term capital growth.

FPAG The Fund seeks long-term growth of principal and income. It normally invests at least 95% of assets in equities, primarily publicly traded common stocks of mid- and large-cap U.S. and non-U.S. companies, including emerging-market companies.

Why people hold it

• COPY Two signals stacked in one wrapper: proprietary value and total scores, plus evidence that insiders are buying in the open market or the company is repurchasing stock.tweedyetfs.com
• Casts a wide net: US, developed international and emerging market stocks across a broad cross-section of market caps, so cheapness anywhere can earn a slot.tweedyetfs.com
• Actively managed and fully transparent rather than index-shadowing, and the portfolio build is a relative strength in a global value group it sits in the upper half of.tweedyetfs.com
• Tweedy, Browne has served value investors for over a century; the firm frames the ETF as a tax-efficient route into its actively managed strategies.tweedyetfs.comfilepoint.live

• FPAG The ETF wrapper for a strategy FPA has run for years: bottom-up fundamental research, global large and mid caps, bought when businesses look out of favor, with no sector constraints on the portfolio.fpa.com
• 0.49% net of a waiver through January 31, 2027 sits below the global value category median, and just under First Eagle's FEGE at 0.50% net of a waiver through December 31, 2026.
• Genuinely active, not index-hugging: roughly 40 positions, cash typically under 5%, and active share FPA describes as typically above 90% versus its MSCI ACWI reference.fpa.com
• Prospectus keeps it simple: normally at least 95% of assets in equities, mid- and large-cap U.S. and non-U.S. names, emerging markets included. One of the stronger builds on a crowded global value shelf.

Worth knowing

• COPY Fee runs 0.80% net of a waiver through December 31, 2027 (0.89% gross), above the category median. Systematic global value rivals such as AVGV charge 0.26%.
• Launched in December 2024, so there is far less live history here than with long-running global value funds. The evidence sits in the process, not a long record.
• Distributions arrive once or twice a year, not monthly, and the stated objective is long-term capital growth rather than income.

• FPAG That 0.49% is a waived rate. Gross is 0.86%, so what you pay after January 31, 2027 depends on FPA extending the waiver.
• One of the thinner-traded funds in its category. Spreads can widen, and the open and close are the rougher moments of the day.
• A focused, unconstrained book of about 40 names with no sector limits can look nothing like a global index, and move nothing like one either. Income arrives quarterly.fpa.com

Full COPY profile⁠

Full FPAG profile⁠