# Miller Value Partners Leverage ETF (MVPL): ETF Facts & Distributions

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- Issuer: Miller Value Partners · Asset class: Equity
- Strategy: Passive Index · Inception: 2024-02-27

The Miller Value Partners Leverage ETF (MVPL) is a dynamically managed fund that allocates its investments to other exchange-traded funds (ETFs) that track the S&P 500 Index. This fund has the flexibility to hold either standard (unleveraged) or amplified (leveraged) positions in the S&P 500. The specific level of exposure is determined by proprietary trading models, which are developed and employed by the fund's investment adviser, Miller Value Partners, LLC. Should these models signal that a non-leveraged strategy is warranted, the fund will then invest in an ETF whose primary objective i...

## Key Facts

| Metric | Value |
|---|---|
| Price | $43.19 |
| Expense Ratio | 0.88% |
| Assets Under Management | $31.8M |
| NAV | $43.57 |
| Holdings Count | 1 |
| Distribution Yield (TTM) | 0.92% |
| Annual Distribution (TTM) | $0.40 /share |
| Distribution Frequency | Irregular |
| 52-Week Range | $32.95 – $45.78 |
| Beta | 1.83 |

## Latest Distribution

- Amount: $0.3982 /share
- Ex-date: 2025-12-18
- Pay date: 2025-12-19

## Frequently Asked Questions

### What does MVPL invest in?

The Miller Value Partners Leverage ETF (MVPL) is a dynamically managed fund that allocates its investments to other exchange-traded funds (ETFs) that track the S&P 500 Index. This fund has the flexibility to hold either standard (unleveraged) or amplified (leveraged) positions in the S&P 500. The specific level of exposure is determined by proprietary trading models, which are developed and employed by the fund's investment adviser, Miller Value Partners, LLC. Should these models signal that a non-leveraged strategy is warranted, the fund will then invest in an ETF whose primary objective is to mirror the performance of the S&P 500 Index.

### What is the expense ratio of MVPL?

Miller Value Partners Leverage ETF (MVPL) charges an expense ratio of 0.88%. 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 $31.8M 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 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 0.88%) 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 Value Partners.

### 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.

### Does MVPL pay a dividend?

Miller Value Partners Leverage ETF (MVPL) currently distributes little or no income. Trailing-twelve-month yield is 0.92%. Investors looking for income should consider income-focused alternatives. See the Peers tab.

### How often does MVPL pay dividends?

Miller Value Partners Leverage ETF pays dividends Irregular. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page.

### What is MVPL's dividend yield?

MVPL's trailing-twelve-month yield is 0.92%, calculated from the sum of dividends over the past year divided by the current price.

### When is MVPL's next ex-dividend date?

The most recently announced ex-dividend date for MVPL was 2025-12-18. 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 MVPL's expense ratio cost me over 30 years?

On a $10,000 investment compounding at 7% gross return, a 0.88% 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 MVPL charge its expense ratio?

The expense ratio is deducted in tiny daily slices from MVPL'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 MVPL cost more than a fund like VOO?

MVPL is a passive index fund (current expense ratio 0.88%). Differences from broad-market ETFs like VOO usually come from index licensing fees, asset class (bond funds typically run cheaper than equity), or fund scale (smaller funds spread fixed operating costs across less AUM).

### Are there cheaper alternatives to MVPL?

The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as MVPL (0.88%) 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/mvpl
- Distribution history: https://www.dividenddata.com/funds/mvpl/dividend
- Holdings & diversification: https://www.dividenddata.com/funds/mvpl/diversification
- Fees & cheaper alternatives: https://www.dividenddata.com/funds/mvpl/expenses
- Peer comparison: https://www.dividenddata.com/funds/mvpl/peers

Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.