MVPA vs SEIV

MVPAFMiller Value Partners Appreciation ETF

SEIVASEI QiM U.S. Large Cap Value Active ETF

In short

MVPA A boutique stock-picker's take on value: no index to hug, just a capital-appreciation mandate and a manager's judgment, in an ETF wrapper since 2024. You pay active-manager pricing for the privilege.

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

MVPA The Fund seeks capital appreciation.

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

• MVPA Genuinely active. The stated objective is plain capital appreciation, so the manager picks stocks rather than tracking a rules-based value screen.
• At 0.60%, the fee sits a whisker above the 0.55% median for active value funds. Boutique active management, priced near the middle of that pack.
• Appreciation-first by design. Distributions come once or twice a year at most, not monthly. This is a growth-of-capital mandate, not an income one.

• 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

• MVPA That 0.60% is four to five times what the top-rated systematic value funds charge (WTV at 0.12%, AVLV at 0.15%). The stock picking has to earn that gap back.
• Thinly traded. Limit orders matter here, and a large order can push the price around more than it would in a household-name value ETF.
• Launched in 2024, so the record is short, and price swings have run wider than those of the typical fund in its value peer group.

• 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 MVPA profile⁠

Full SEIV profile⁠