PZIV vs. MCSE

Last updated Aug 5, 2026

PZIV (Pzena International Value ETF) and MCSE (Franklin Sustainable International Equity ETF) are both Foreign Large Cap Equities funds. Both are actively managed. PZIV charges 0.70%/yr vs 0.59%/yr for MCSE.

Performance

PZIV vs. MCSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pzena International Value ETF (PZIV) and Franklin Sustainable International Equity ETF (MCSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PZIV

• 1D: 0.55%
• 1M: 5.13%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

MCSE

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.00%
• YTD: 1.12%
• 1Y: 3.22%
• 3Y*: 0.74%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.06%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MCSE Franklin Sustainable International Equity ETF	$0.00	$0.00	$0.00
PZIV Pzena International Value ETF	$104.00K	$153.27K	$204.77K

PZIV vs. MCSE - Yearly Performance Comparison

	2026 (YTD)
PZIV Pzena International Value ETF	17.82%
MCSE Franklin Sustainable International Equity ETF	0.00%

Return for Risk

PZIV vs. MCSE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PZIV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

MCSE

MCSE Risk / Return Rank: 17
MCSE Sharpe Ratio Rank: 17
MCSE Sortino Ratio Rank: 16
MCSE Omega Ratio Rank: 20
MCSE Calmar Ratio Rank: 15
MCSE Martin Ratio Rank: 16

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PZIV vs. MCSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pzena International Value ETF (PZIV) and Franklin Sustainable International Equity ETF (MCSE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	PZIV	MCSE	Difference
Sharpe ratio: Return per unit of total volatility	—	0.35	—
Sortino ratio: Return per unit of downside risk	—	0.54	—
Omega ratio: Gain probability vs. loss probability	—	1.09	—
Calmar ratio: Return relative to maximum drawdown	—	0.34	—
Martin ratio: Return relative to average drawdown	—	0.84	—

Drawdowns

PZIV vs. MCSE - Drawdown Comparison

The maximum PZIV drawdown since its inception was -3.74%, smaller than the maximum MCSE drawdown of -26.36%. Use the drawdown chart below to compare losses from any high point for PZIV and MCSE.

Drawdown Indicators

	PZIV	MCSE	Difference
Max Drawdown Largest peak-to-trough decline	-3.74%	-26.36%	+22.62%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.42%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.36%	—
Current Drawdown Current decline from peak	0.00%	-10.51%	+10.51%
Average Drawdown Average peak-to-trough decline	-0.84%	-8.80%	+7.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.38%	—

Volatility

Volatility by Period

	PZIV	MCSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.87%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.82%	10.27%	+4.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.82%	19.06%	-4.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.82%	19.06%	-4.24%

PZIV vs. MCSE - Expense Ratio Comparison

PZIV has a 0.70% expense ratio, which is higher than MCSE's 0.59% expense ratio.

Dividends

PZIV vs. MCSE - Dividend Comparison

PZIV has not paid dividends to shareholders, while MCSE's dividend yield for the trailing twelve months is around 3.74%.

Position	TTM	2025	2024	2023	2022
MCSE Franklin Sustainable International Equity ETF	3.74%	3.78%	0.63%	0.57%	0.48%
PZIV Pzena International Value ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, PZIV or MCSE?

On fees, MCSE is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PZIV or MCSE?

MCSE is cheaper with a 0.59% expense ratio, compared with 0.70% for PZIV.

Which ETF pays a higher dividend yield, PZIV or MCSE?

MCSE has the higher dividend yield at 3.74%, compared with 0.00% for PZIV.

What is the main difference between PZIV and MCSE?

They also come from different issuers: Pzena and Franklin. Their fees differ too: 0.70% for PZIV and 0.59% for MCSE.