PVAL ETF

PVAL is a top-performing large-cap value ETF with a 0.56% expense ratio and $1.31 billion in assets under management. It's semi-transparent, meaning its managers do not disclose its holdings daily. Portfolio turnover is low, suggesting its two portfolio managers take a high-conviction approach. It's unique in the sense that it has not relied on tech stocks to power its returns. My fundamental analysis revealed low growth rates for current holdings, a departure in strategy from prior months. An additional concern is weak earnings revisions, which could limit short-term gains.

PVAL is an actively managed ETF that has been outperforming its benchmark in the last 3 years with its focus on value opportunities. It focuses on undervalued U.S. large-cap stocks and has a low book value premium and earnings multiple compared to SPY. Despite high fees and concentration risk in the financials sector, PVAL's performance and large-cap focus should be attractive to conservative value investors.