BrandywineGLOBAL-Dynamic US Large Cap Value ETF
DVAL
NASDAQ Global Market- -
USD
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Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Global
- Address
- 1735 Market Street, Suite 1800 Philadelphia PA United States of America 19103
- IPO Date
- Oct 31, 2022
- CIK
- 0001655589
- Website
- franklintempleton.com
- Similar Companies
- Business
- BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF (DVAL) is an actively managed exchange-traded fund that seeks capital appreciation by investing in undervalued large-cap U.S. stocks identified through a proprietary quantitative model incorporating valuation, sentiment, and quality factors; the model dynamically shifts portfolio allocations based on market conditions, such as valuation dispersion, to rotate between broad- and deep-value modes. The ETF primarily holds U.S. equities from the largest 1,000 companies by market capitalization with low price-to-earnings (P/E) or price-to-book (P/B) ratios, selected via a multifactor score and weighted by capitalization; top sectors include industrials (26.09%), consumer cyclical (14.88%), and financial services (13.05%), with leading holdings such as International Business Machines Corp (5.35%), Deere & Co (4.61%), Caterpillar Inc (4.40%), Comcast Corp (4.20%), and Lockheed Martin Corp (4.20%). It benchmarks against the Russell 1000 Value Index, maintains approximately 115 holdings with a weighted average market cap of $192.65 billion, and reports assets under management of about $115-116 million, a net expense ratio of 0.49%, and a dividend yield around 2.65%. Effective October 28, 2022, the BrandywineGLOBAL Dynamic U.S. Large Cap Value Fund—a mutual fund with an inception dating back to December 2006 or January 2007—reorganized into this ETF, preserving identical investment objectives and substantially similar strategies while converting to an exchange-traded structure listed on Nasdaq. The ETF operates under BrandywineGLOBAL, a brand of Franklin Resources, Inc., with portfolio management led by Henry F. Otto, Steven M. Tonkovich, and Michael J. Fleisher since its launch. Recent developments include strategic portfolio adjustments highlighted in Q3 2025 earnings previews, alongside Q2 2025 reports noting a 1.9% revenue slip and sharp net income decline amid market volatility. DVAL targets investors seeking large-cap value exposure with downside protection, focusing on U.S. equities (97.33% allocation) while maintaining minimal cash (1.08%) and minor non-U.S. stock positions (1.56%); it domiciles in the United States and trades primarily for U.S. investors. BrandywineGLOBAL, headquartered within Franklin Templeton's operations, offers this strategy across separate accounts, U.S. mutual funds, and the ETF vehicle.