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FEOE vs PZIV

First Eagle Overseas Equity ETF

FEOEANYSE

Pzena International Value ETF

PZIVDNYSE Arca

Overlap

Expense ratio

FEOE −0.20pt a year

FEOE0.50%PZIV0.70%

Avg volume · 30D

FEOE 106.0×the volume

FEOE278KPZIV2.62K

FEOE vs PZIV Performance

Jul 31, 2026 – Oct 30, 2026

−0.4%FEOE+0.8%PZIV

Jul 31, 2026 to Oct 30, 2026. FEOE −0.4%. PZIV +0.8%. Use the arrow keys to read each point.−4%−2%2%Jul 2026Sep 2026Oct 2026
Expense ratio
FEOE 0.50%, better
PZIV 0.70%
Fund size
FEOE $2.06B
PZIV $17M
1Y total return
FEOE +20.4%
PZIV No data
Holdings
FEOE 77
PZIV 55
Avg volume (30D)
FEOE 278K sh, better
PZIV 2.62K sh
NAV per share
FEOE $54.88
PZIV $29.99
52W range

ETF.net Grade

FEOE: Cost 88, Risk 48, Mission not scored, Tradability 73, Holdings 49, Durability 72. PZIV: Cost 21, Risk 96, Mission not scored, Tradability 11, Holdings not scored, Durability 25.
Pillar letters and Scores for FEOE, PZIV, with each pillar’s weight
PillarFEOEPZIV
Cost30% weightA88HigherF21
Mission25% weightNot scoredNot scored
Risk15% weightC48A96Higher
Tradability15% weightA73HigherF11
Holdings10% weightC49Not scored
Durability5% weightA72HigherD25

Rank among International Active Value funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FEOE and PZIV are both graded against the same 18 International Active Value funds, so their Grades compare head to head.

International Active Value⁠

Category · 18 funds
See all 18 ›

FEOE ranks 4th and PZIV 14th of 18 funds in the International Active Value Category.

  1. Rank 1AAVIVAvantis International Large Cap Value ETFScore 84
  2. Rank 2AAVDVAvantis International Small Cap Value ETFScore 83
  3. Rank 3AJIVEJPMorgan International Value ETFScore 71
  4. Rank 4AFEOEFirst Eagle Overseas Equity ETFScore 70
  5. Rank 5BTIIVAAM Todd International Intrinsic Value ETFScore 61
  6. Rank 14DOAKIOakmark International Large Cap ETFScore 36
  7. Rank 14DPZIVPzena International Value ETFScore 36
  8. Rank 17DJDVIJohn Hancock Disciplined Value International Select ETFScore 33

Our read on each fund

ETF.net Research

FEOEAFirst Eagle Overseas Equity ETF

PZIVDPzena International Value ETF

In short

FEOE First Eagle has run this overseas value playbook as a mutual fund since 1993; the ETF version landed in December 2024. Active picking of non-US companies the team judges underpriced, with MSCI EAFE as the yardstick, for 0.50% a year.

PZIV Pzena 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

FEOE The Fund seeks long-term capital growth by investing mainly in equities issued by companies outside the United States.

PZIV The Fund seeks long-term capital appreciation.

Why people hold it

  • FEOE 0.50% a year, below the median for active international value ETFs and a hair under JPMorgan's JIVE at 0.55%.
  • The house style isn't new. First Eagle's Overseas mutual fund has run this value discipline since 1993; the ETF is the equity-focused expression of it.firsteagle.comfirsteagle.com 2
  • MSCI EAFE is the yardstick, not the blueprint. Managers buy non-US companies they judge underpriced, so the portfolio can look nothing like the index.firsteagle.com
  • The firm's gold streak carries over: its first shareholder report lists gold-related names such as Wheaton Precious Metals among the fund's contributors.firsteagle.com
  • PZIV Genuinely 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
  • The mandate reaches past the usual developed-market roster, allowing significant foreign holdings and leaving the door open to emerging markets.
  • A 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

  • FEOE Launched December 2024, so the ETF's own live record is short, however long the strategy has run in other wrappers.
  • Stock picking costs more than the systematic route to the same corner: AVIV charges 0.25% and AVDV 0.36%.
  • Value hunting abroad means stretches out of step with EAFE, and gold-related holdings have historically swung harder than broad equities.firsteagle.com
  • PZIV At 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.
  • It 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.
  • Concentrated deep value is a style bet: fewer names, cheaper names, and results that can look nothing like a broad international index.globenewswire.com

Full FEOE profile⁠

Full PZIV profile⁠

FEOE vs PZIV Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FEOE vs PZIV Cost

Overpaying PZIV vs FEOE

$3,627

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

  • FEOE 0.50%

    $9,979

  • PZIV 0.70%

    $13,606

$10,000
30 years

Cost over time

  • FEOE 0.50%
  • PZIV 0.70%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530PZIV $13,606FEOE $9,979

Year by year

YearFEOEPZIVOverpaying
10$900$1,250$350
20$3,460$4,760$1,300
30$9,979$13,606$3,627

Expense ratio

  • 0.50%FEOE, cheaper
  • 0.70%PZIV
  • Middle half of International Active Value funds
  • Median 0.63%

FEOE 3rd cheapest of 18 funds

PZIV 14th cheapest of 18 funds

FEOE vs PZIV Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
FEOE No data
PZIV None
Last payment
FEOE $0.74
PZIV No data
Ex-dividend
FEOE Dec 30, 2025
PZIV No data
Paid on
FEOE Dec 31, 2025
PZIV No data
Frequency
FEOE Irregular
PZIV No data

Distribution history

Per share, 2025 to 2026, same scale for both

FEOEIrregular · 1 paymentAll FEOE payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $0.74. Use the arrow keys to read each point.$0$0.502026YTD
PZIVAll PZIV payments⁠

No distribution history available.

FEOE vs PZIV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FEOE 12.8%since Jan 2025PZIV No data
Return per unit of riskSharpe ratio, 3 years
FEOE 1.81since Jan 2025PZIV No data
Worst fallMax drawdown, 5 years
FEOE −12.3%since Dec 2024PZIV No data
Market sensitivityBeta, 5 years
FEOE 0.33PZIV 0.50

Popular comparisons

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