Miller Value Partners Leverage ETF

Frequently Asked Questions About MVPL

What does MVPL invest in?

The fund is an actively-managed exchanged-traded fund (“ETF”) that seeks to achieve its investment objective by investing in ETFs that provide unleveraged or leveraged exposure to the S&P 500 Index, depending on trading signals from proprietary models used by the fund’s investment adviser, Miller Value Partners, LLC (the “Adviser”), to implement the fund’s investment strategy. When the adviser’s trading signals indicate that the fund should be in an unleveraged (or “leverage off”) position, the fund will invest its assets in an ETF that seeks to track the performance of the index.

What is the expense ratio of MVPL?

Miller Value Partners Leverage ETF (MVPL) charges an expense ratio of 1.39%. This is the annual fee deducted from fund assets to cover management and operations.

How big is MVPL?

Miller Value Partners Leverage ETF (MVPL) manages $21.7M 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 MVPL actively managed or an index fund?

MVPL 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 (MVPL's is 1.39%) because there's no security selection cost.

When was MVPL launched?

Miller Value Partners Leverage ETF (MVPL) launched in February 2024 and is managed by Miller.

How has MVPL performed?

MVPL'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.