# Hotchkis & Wiley SMID Cap Diversified Value Fund (HWSM): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/hwsm for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Hotchkis & Wiley · Asset class: Equity - Strategy: Actively Managed · Inception: 2025-03-31 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. ## Key Facts | Metric | Value | |---|---| | Price | $31.57 | | Expense Ratio | 0.55% | | Assets Under Management | $2.8M | | NAV | $31.65 | | Holdings Count | 0 | | Distribution Yield (TTM) | 1.15% | | Annual Distribution (TTM) | $0.36 /share | | Distribution Frequency | Irregular | | 52-Week Range | $25.49 – $32.36 | | Beta | 0.57 | ## Latest Distribution - Amount: $0.3616 /share - Ex-date: 2025-12-03 - Pay date: 2025-12-04 ## Frequently Asked Questions ### 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 $2.8M 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 actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (HWSM's is 0.55%) in exchange for the discretion to over- or under-weight positions. ### When was HWSM launched? Hotchkis & Wiley SMID Cap Diversified Value Fund (HWSM) launched in March 2025 and is managed by Hotchkis & Wiley. ### 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. ### Does HWSM pay a dividend? Hotchkis & Wiley SMID Cap Diversified Value Fund (HWSM) currently distributes little or no income. Trailing-twelve-month yield is 1.15%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does HWSM pay dividends? Hotchkis & Wiley SMID Cap Diversified Value Fund pays dividends Irregular. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is HWSM's dividend yield? HWSM's trailing-twelve-month yield is 1.15%, calculated from the sum of dividends over the past year divided by the current price. ### When is HWSM's next ex-dividend date? The most recently announced ex-dividend date for HWSM was 2025-12-03. The next ex-date typically follows Irregular; once announced it appears at the top of the dividend history table on this page. ### How much will HWSM's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.55% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does HWSM charge its expense ratio? The expense ratio is deducted in tiny daily slices from HWSM's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does HWSM cost more than a fund like VOO? HWSM is actively managed (current expense ratio 0.55%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether HWSM's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to HWSM? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as HWSM (0.55%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/hwsm - Distribution history: https://www.dividenddata.com/funds/hwsm/dividend - Holdings & diversification: https://www.dividenddata.com/funds/hwsm/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/hwsm/expenses - Peer comparison: https://www.dividenddata.com/funds/hwsm/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.