Miller Value Partners Leverage ETF (MVPL)

The Miller Value Partners Leverage ETF is an actively managed fund from Miller Value Partners, the firm associated with value investor Bill Miller. It seeks capital appreciation and, as its name indicates, uses leverage to amplify its equity market exposure beyond the fund's net assets.

The fund can obtain that leveraged exposure through instruments such as other ETFs, derivatives, or borrowing, and its results may therefore move more than the underlying market in both directions. It trades on NYSE Arca.