FDVL — Foundations Dynamic Value ETF
Data updated: 2025-06-24
FDVL — Foundations Dynamic Value ETF. United States Large Cap Blend / Core Equity · $16.65M AUM. Holdings, fees, performance and SEC filings.
FDVL Fund Overview
FDVL — Foundations Dynamic Value ETF is a US ETF managed by Two Roads Shared Trust, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Two Roads Shared Trust
- Category: United States Large Cap Blend / Core Equity
- Assets under management: $16.65M
- 1-year return: 6.7%
- Ticker: FDVL
- SEC CIK: 0001552947
- SEC series ID: S000080860
- Share class ID: C000243430
FDVL Investment Objective and Strategy
Foundations Dynamic Value ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Two Roads Shared Trust.
Investment objective
The Foundations Dynamic Value ETF (the Fund) seeks capital appreciation.
Principal investment strategy
The Fund is an actively managed exchange-traded fund (ETF) that, under normal market conditions, primarily invests, directly or indirectly, in equity securities and other instruments with exposure to the value-focused U.S. equity market. Utilizing V-Mod (defined below), the Sub-Adviser actively manages the Funds exposure to the value-focused U.S. equity market based on the level of intraday volatility of the market. The Fund will consist of investments that represent the broad value-focused U.S. equity market. The Sub-Adviser defines value-focused equity securities as the shares of companies with solid fundamentals that are priced below those of its peers, based on analysis of price/earnings ratio, yield, and other factors. The Fund will be invested primarily in passively managed ETFs that provide broad value-focused U.S.
equities market exposure and seek to track U.S. value equity indices, as selected by the Sub-Adviser. The Fund expects to be invested primarily in ETFs or equity index funds that invest in the equity securities of large-capitalization companies, although the Fund may also invest to a lesser extent in ETFs that invest in the equity securities of medium- or small-capitalization companies. The Funds portfolio components will be reviewed by the Sub-Adviser no less than quarterly to determine any changes to individual portfolio components and/or weights. The Sub-Adviser will utilize market cap-weighted, value-style biased and total market funds to provide diversification. To actively manage volatility and adjust the exposure of the portfolio, the Sub-Adviser will measure intraday volatility daily using a market volatility measurement and forecasting model (the V-Mod).
The V-Mod is a third-party proprietary intraday volatility technology which provides daily updates to the Sub-Adviser based on a target volatility range of approximately 10%. The Funds actual volatility level for longer or shorter periods may be materially higher or lower than the target depending on market conditions. Volatility measures the range of returns of a security, fund or index, as indicated by the standard deviation of its returns. Higher volatility generally indicates higher risk and is often reflected by frequent and sometimes significant movements up and down in value. A volatility target does not provide any assurance about the maximum loss for an investor in the Fund. The Sub-Adviser will use its own trading discretion to determine the size and frequency of reallocations within the Fund portfolio, as informed by V-Mod.
It is expected that the Fund will be rebalanced to adjust for market fluctuations no less than quarterly but could be more frequently as needed to maintain weights for volatility targets. When volatility increases above target intraday range, the Sub-Adviser may reduce equity exposure and reallocate up to 100% of portfolio investments to cash alternative positions, such as short-term cash equivalents including, but not limited to, Treasury bills and bonds, inflation-protected securities and debt instruments. When volatility decreases below target intraday range, the Sub-Adviser may increase the Funds overall equity exposure to up to 150% of the Funds net assets through investments in S&P 500 Value Index futures. Although the Fund normally does not engage in any direct borrowing, leverage is inherent in the derivatives it trades.
While Federal law limits bank borrowings to one-third of a funds assets (which includes the borrowed amount), the use of derivatives is not limited the same manner. Leverage magnifies exposure to the swings in prices of the reference asset underlying a derivative and results in increased volatility, which means the Fund will generally have the potential for greater gains, as well as the potential for greater losses, than a fund that does not use derivatives. The Fund may engage in active and frequent trading.
FDVL Holdings
Top 7 holdings of Foundations Dynamic Value ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Vanguard Index Funds | 26.75% |
| Vanguard Specialized Funds | 14.31% |
| Vanguard Whitehall Funds | 14.27% |
| Vanguard World Fund | 9.63% |
| American Century ETF Trust | 9.29% |
| Vanguard Index Funds | 9.18% |
| Vanguard Index Funds | 8.67% |
FDVL Portfolio Allocation
Asset-class allocation of Foundations Dynamic Value ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 92.1% |
FDVL Performance
Total returns for FDVL (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 6.7% |
FDVL Risk Information
Risk metrics for FDVL, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 13.0%
FDVL Costs and Fees
FDVL costs about $79 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.79%
- Gross expense ratio: 0.79%
- Portfolio turnover: 0%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
FDVL Cashflows
Over the 12 months to 2025-04, Foundations Dynamic Value ETF had net outflows of $9.33M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-04 | −$6.17M |
| 2025-03 | −$787.90K |
| 2025-02 | −$268.85K |
| 2025-01 | $4.28M |
| 2024-12 | −$1.45M |
| 2024-11 | $20.69M |
FDVL Debt Constituents
No individual debt constituents are reported in Foundations Dynamic Value ETF's latest SEC N-PORT filing.
FDVL Prospectus and SEC Filings
Official Foundations Dynamic Value ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other United States Large Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.