Miller Value Partners Appreciation ETF
MVPA
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- One South Street, Suite 2550 Baltimore MD United States of America 21202
- IPO Date
- Jan 31, 2024
- Website
- etf.millervaluefunds.com
- Similar Companies
- Business
- Miller Value Partners Appreciation ETF (MVPA) is an actively managed exchange-traded fund that seeks capital appreciation by investing primarily in a concentrated portfolio of 20 to 40 common stocks selected for their above-average probability of outperforming the S&P 500 Index over a multi-year horizon; the Adviser employs proprietary models focused on valuations, management alignment, and potential excess returns without regard to market capitalization, targeting undervalued securities across growth and value segments including technology, consumer, energy, and financials. MVPA offers investors flexible exposure to small- and mid-cap value opportunities alongside select large-cap names, with holdings such as MicroStrategy, Maplebear (Instacart), and PayPal; it features an expense ratio of 0.60%, assets under management of approximately $70 million, and a dividend yield around 0.93% as of late 2025. The ETF, which trades on NYSE Arca, was launched on January 30, 2024, as part of Miller Value Partners' expansion into actively managed ETFs, following the firm's introduction of the companion Miller Value Partners Leverage ETF (MVPL) in early 2024; this marked a strategic shift to provide retail and institutional investors with transparent, daily-disclosed access to the firm's value-oriented strategies previously available mainly through mutual funds. In May 2023, Miller Value Partners underwent a significant ownership change with the completion of a majority acquisition by Bill Miller IV, the firm's Chairman and Chief Investment Officer, enhancing its independence and alignment with long-term value investing principles. Miller Value Partners, the ETF's investment adviser, was founded in 1999 and is headquartered in Sarasota, Florida, with approximately 17 employees managing around $235 million in assets across its strategies as of mid-2025; the firm operates in the asset management industry, serving U.S.-based clients including mutual fund investors and separate accounts through value-driven equity and income approaches. Geographically focused on U.S. securities markets, Miller Value Partners maintains full ownership by Bill Miller IV and team members, positioning MVPA as a core offering in its lineup alongside the Miller Income Fund and MVPL for diversified capital appreciation and income solutions.