- Issuer
- Pzena
- Inception Date
- Mar 31, 2026
- Category
- Large Cap Value Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
- Assets Under Management
- $59M
Highlights
- Avg. Volume (1M)
- 2K
- Avg. Volume Value (1M)
- $52.72K
Share Price Chart
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Performance
PZLV Performance Chart
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Returns By Period
Pzena U.S. Large Cap Value ETF
- 1D
- -0.57%
- 1M
- 5.17%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
PZLV Monthly Returns History
Based on dividend-adjusted daily data since Apr 1, 2026, PZLV's average daily return is +0.23%, while the average monthly return is +4.98%. At this rate, an investment would double in approximately 1.2 years.
Historically, 100% of months were positive and 0% were negative. The best month was Apr 2026 with a return of +7.5%, while the worst month was May 2026 at 2.6%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 0 months.
On a daily basis, PZLV closed higher 57% of trading days. The best single day was Apr 8, 2026 with a return of +3.0%, while the worst single day was Jul 8, 2026 at -2.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.52% | 2.61% | 2.82% | 6.94% | 21.32% |
Benchmark Metrics
Pzena U.S. Large Cap Value ETF has an annualized alpha of 48.63%, beta of 0.46, and R2 of 0.17 versus S&P 500 Index. Calculated based on daily prices since April 01, 2026.
- This ETF captured 55.46% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -1106.01%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.46 may look defensive, but with R2 of 0.17 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.17 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 48.63%
- Beta
- 0.46
- R²
- 0.17
- Upside Capture
- 55.46%
- Downside Capture
- -1,106.01%
Expense Ratio
PZLV has an expense ratio of 0.60%, placing it in the medium range.
Return for Risk
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Pzena U.S. Large Cap Value ETF (PZLV) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PZLV | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.25 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.00 | — |
| Martin ratioReturn relative to average drawdown | — | 8.49 | — |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Pzena U.S. Large Cap Value ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Pzena U.S. Large Cap Value ETF was 2.81%, occurring on Jun 22, 2026. Recovery took 8 trading sessions.
The current Pzena U.S. Large Cap Value ETF drawdown is 1.20%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-2.81%Jun 2026 | 6d | 10d | 16dJun 2026 - Jul 2026 | — |
-2.43%Jul 2026 | 6d | 4d | 10dJul 2026 - Jul 2026 | — |
-2.30%May 2026 | 12d | 8d | 20dMay 2026 - May 2026 | — |
-2.01%Jul 2026 | 1d | 5d | 5dJul 2026 - Jul 2026 | — |
-1.59%Apr 2026 | 7d | 2d | 9dApr 2026 - Apr 2026 | — |
Drawdown Indicators
| PZLV | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.81% | -56.78% | +53.97% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.20% | -1.58% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -0.74% | -10.70% | +9.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.14% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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