GVAL vs SFGV

GVALBCambria Global Value ETF

SFGVASequoia Global Value ETF

In short

GVAL A deep-value passport: GVAL ranks world markets by cyclically adjusted P/E, equal-weights the cheapest ones, then buys the cheapest stocks inside them. Running since 2014 at 0.68%, near the typical global value fee.

SFGV A wealth manager's global value model in ETF clothing: SFGV hunts profitable companies with cheap cash flows and a habit of paying shareholders back, at 0.33% net of a waiver through March 31, 2027, below most global value rivals.

Stated mandate

GVAL The fund seeks income and capital appreciation. It actively invests at least 80% of assets in equities of companies in developed and emerging markets with strong value characteristics, selected through Cambria’s quantitative algorithm.

SFGV The Fund seeks long-term growth of capital.

Why people hold it

• GVAL Two-layer screen: cheapest countries by cyclically adjusted price-to-earnings, then the cheapest stocks within them on P/E, price-to-sales and EV/EBITDA.cambriafunds.comcambriafunds.com 2
• Equal weighting at both the country and the stock level, so no single market or mega-cap runs the portfolio. About 120 names.cambriafunds.comcambriafunds.com 2
• Live since March 2014, and actively managed since 2020, when it dropped the index and ran the same screens in-house. Upper half of its global value peer group.sec.gov
• Income is in the mandate, not an afterthought: the fund seeks income and capital appreciation, and distributions come quarterly.cambriafunds.com

• SFGV Value here means cash, not book value: the US sleeve starts with roughly the 3,000 largest American companies, then ranks them on shareholder yield and free cash flow yield.etfarchitect.com
• 0.33% net of a waiver through March 31, 2027 (0.38% gross), below the category median and under peers like FEGE at 0.50% net of a waiver through December 31, 2026, and GKAT at 0.59%.
• One ticket spans US, developed-international and emerging-market stocks across large, mid and small caps, held through individual names plus ETFs. Pays quarterly.etfarchitect.com
• Trading since January 2024 and already a billion-dollar-plus fund, it sits in the upper tier of its global value peer group.

Worth knowing

• GVAL 0.68% is active pricing. Near the median for global value funds, but above cheaper peers like AVGV (0.26%) and SFGV (0.33% net of a waiver through March 31, 2027).
• Deep value means owning the unloved: emerging and out-of-favor developed markets, with holdings priced in foreign currencies, so the dollar's moves land in returns.cambriafunds.com
• Moderately traded rather than a liquid giant, so bid-ask spreads are a bigger share of the round-trip cost than in the largest global funds.

• SFGV It trades thinly, so spreads can be wider than on the big index names. That cost sits outside the expense ratio.
• Part of the portfolio is held through other ETFs, whose own expenses stack on top of this fund's fee.etfarchitect.com
• The name is younger than the fund: it traded as CCM Global Equity ETF until October 29, 2025, so part of the record predates the Sequoia label.etfarchitect.com

Full GVAL profile⁠

Full SFGV profile⁠