Miller Value Partners Appreciation ETF (MVPA)

The Miller Value Partners Appreciation ETF is an actively managed equity fund from Miller Value Partners, the investment firm founded by veteran value investor Bill Miller. It seeks long-term capital appreciation through a concentrated portfolio of U.S. stocks.

The managers apply a value-oriented, research-intensive process that looks for companies trading below their estimate of intrinsic worth, and they are willing to hold unconventional or out-of-favor names. Holdings may span market capitalizations and sectors. The fund trades on the New York Stock Exchange.