Hotchkis & Wiley SMID Cap Diversified Value Fund

Frequently Asked Questions About HWSM

What does HWSM invest in?

The Hotchkis & Wiley SMID Cap Diversified Value Fund (HWSM) is an exchange-traded fund (ETF) managed by Hotchkis & Wiley Capital Management, LLC. Established on March 31, 2025, this fund aims to invest in undervalued companies across the small-to-mid-capitalization spectrum. Specifically, it targets businesses with market values similar to those included in the Russell 2000 Index and the Russell Midcap Index. The portfolio is constructed through a diligent, bottom-up security selection process, driven by thorough fundamental analysis.

What is the expense ratio of HWSM?

Hotchkis & Wiley SMID Cap Diversified Value Fund (HWSM) charges an expense ratio of 0.55%. This is the annual fee deducted from fund assets to cover management and operations.

How big is HWSM?

Hotchkis & Wiley SMID Cap Diversified Value Fund (HWSM) manages $2.7M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is HWSM actively managed or an index fund?

HWSM is a passive index fund — it tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (HWSM's is 0.55%) because there's no security selection cost.

When was HWSM launched?

Hotchkis & Wiley SMID Cap Diversified Value Fund (HWSM) launched in March 2025 and is managed by the fund issuer.

How has HWSM performed?

HWSM's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.