FLCV vs SEIV

FLCVAFederated Hermes MDT Large Cap Value ETF

SEIVASEI QiM U.S. Large Cap Value Active ETF

In short

FLCV Federated Hermes took MDT Advisers, its quant arm of 30-plus years, and bottled that process into an ETF: a bottom-up model re-ranks large-cap US stocks daily and holds roughly 120 of the undervalued ones.

SEIV Active quant value stock-picking at an index-fund price. SEIV screens U.S. large caps for cheap valuations plus quality, momentum and low volatility, then runs a concentrated book of roughly 80 names for 0.15% a year.

Stated mandate

FLCV The fund seeks long-term capital appreciation by investing primarily in common stocks of large-cap U.S. companies that are considered undervalued.

SEIV The Fund seeks long-term capital appreciation through primarily U.S. common stocks priced below fundamental valuation measures, using a quantitative, active stock-selection approach.

Why people hold it

• FLCV 0.32% net of a waiver through May 1, 2027 (0.43% gross), below the category median for active US value funds.
• The engine is not new: MDT Advisers has run this bottom-up quant process for Federated Hermes for more than 30 years, built to strip out human bias.hermes-investment.com
• Roughly 120 names, picked by a model that scores stocks on fundamental and technical factors daily rather than waiting on an index rebuild.hermes-investment.com
• Stands among the stronger packages in a crowded field of active US value ETFs.

• SEIV 0.15% a year for genuine active selection, against a 0.55% median in its U.S. value peer group. It matches the cheapest large-value quant funds rather than charging active prices.
• Value is not the only screen. The model also weighs quality, momentum and low volatility, which is how a cheap-stock strategy tries to avoid the cheap-for-a-reason trap.
• Other funds measured against the S&P 500 in this cohort charge far more (LSVD 0.40%, GSPY 0.50%, VNSE 1.34%). SEIV runs its version at 0.15%.
• Sits among the strongest implementations in a crowded U.S. value field, and trades with enough regular activity to be workable for ordinary retail order sizes.

Worth knowing

• FLCV Cheap for an active fund, not cheap outright: WTV charges 0.12% and AVLV 0.15%. The fee also reverts toward 0.43% gross if the waiver lapses after May 1, 2027.
• Thinly traded with a modest asset base, so spreads can be wider than in the category's giants. Limit orders earn their keep.
• Launched in 2024, so the ETF's own track record is short and spans only one stretch of market conditions.

• SEIV About 80 stocks measured against a 500-name benchmark. That concentration means stretches where it looks nothing like the S&P 500, in either direction.
• Launched in 2022, so the live record is short, and the asset base is mid-sized rather than among the giants of the value aisle.
• You get the factor recipe, not the trade-by-trade logic: selection sits inside a quantitative model. Distributions land quarterly, not monthly.

Full FLCV profile⁠

Full SEIV profile⁠