Legg Mason Emerging Markets Low Volatility High Dividend ETF (LVHE) is an exchange-traded fund that seeks to track the investment results of the QS Emerging Markets Low Volatility High Dividend Hedged Index, focusing on emerging market equities selected for relatively high dividend yields and lower price and earnings volatility across a wide range of market capitalizations. The fund invests at least 80% of its net assets in securities that compose the underlying index; provides exposure to sectors including financials, consumer staples, utilities, and telecommunications; and hedges currency risk to the U.S. dollar. It offers diversified holdings typically numbering around 167 constituents, with a concentration in the top 10 holdings of approximately 24%, targeting stable income for investors in diversified emerging markets.
Incepted in 2016 and issued by Legg Mason ETF Investment Trust, a product of Legg Mason Global Asset Management headquartered in New York, NY, the ETF operated primarily in U.S. markets while providing geographic exposure to emerging market regions such as Asia, Latin America, and Eastern Europe. The fund distributed quarterly dividends, with an annual yield around 4.75% prior to closure, and maintained an expense ratio suitable for its volatility-hedged equity strategy. Legg Mason itself was acquired by Franklin Templeton in 2020, integrating its ETF lineup into the larger firm's offerings, though LVHE was not carried forward under the new structure.
A major operational change occurred in March 2020 when the Board of Trustees approved the fund's liquidation due to insufficient investor demand and assets under management; trading ceased on May 15, 2020, followed by delisting from Cboe BZX and full liquidation shortly thereafter. No relaunches, rebrandings, or revivals of LVHE have been announced as of late 2025, with the ETF remaining inactive and its index no longer actively tracked by any successor product. Post-acquisition, Franklin Templeton has focused on other low-volatility high-dividend strategies like LVHD and LVHI but discontinued LVHE operations.