HVAL — ALPS Hillman Active Value ETF
Data updated: 2023-07-28
HVAL — ALPS Hillman Active Value ETF. United States Multi-Cap / All-Cap Value Equity · $5.67M AUM. Holdings, fees, performance and SEC filings.
HVAL Fund Overview
HVAL — ALPS Hillman Active Value ETF is a US ETF managed by ALPS ETF Trust, categorised as United States Multi-Cap / All-Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: ALPS ETF Trust
- Category: United States Multi-Cap / All-Cap Value Equity
- Assets under management: $5.67M
- 1-year return: 1.3%
- Ticker: HVAL
- SEC CIK: 0001414040
- SEC series ID: S000072374
- Share class ID: C000228553
HVAL Investment Objective and Strategy
ALPS Hillman Active Value ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by ALPS ETF Trust.
Investment objective
The Fund seeks long-term total return from a combination of income and capital gains.
Principal investment strategy
In seeking to achieve its objective, the Fund will invest primarily in common stocks of U.S. companies that Hillman Capital Management, Inc., the Funds sub-adviser (HCM or the Sub-Adviser), believes have competitive advantages, as described below, and have temporarily fallen out of favor for reasons that are considered non-recurring or short-term; whose value is not currently well known; or whose value is not fully recognized by the public. HCM maintains a proprietary Qualified Investment Universe (QIU) consisting of companies that possess certain qualitative characteristics, provided that a companys market capitalization exceeds $3 billion at the Sub-Advisers estimation of fair market value. HCMs QIU is built and maintained by analyzing the following qualitative measures of each company: ?
dominance in a particular industry or niche market; ? management prowess; ? strength of pricing and purchasing power; ? barriers to industry competition and limited substitutes; ? limited degree of rivalry amongst competitors; ? strength of brand or franchise with commensurate brand loyalty; ? financial flexibility; and ? quality of products and services. If certain companies meet most or all of the qualitative measures, HCM then seeks to identify which of those companies possess certain positive quantitative measures. HCM will also make investments based on certain quantitative measures, which are used to rank the eligible universe. The quantitative measures of a company include: ? present value of discounted projected cash flows; ? price-to-book ratio; and ? price-to-sales ratio. The Fund will typically hold approximately 45 stocks, consisting of the top ranked stocks among the eligible universe after application of the qualitative and quantitative measures, where the holdings are approximately equally weighted.
The portfolio is rebalanced on an as needed basis in order to maintain each holdings target weight. HCM may sell a portfolio holding if it believes that the price of the security is overvalued or to rebalance the security to HCMs targeted percentage of total portfolio value for that security.
HVAL Performance
Total returns for HVAL (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 1.3% |
HVAL Risk Information
Risk metrics for HVAL, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 24.0%
HVAL Costs and Fees
HVAL costs about $55 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.55%
- Gross expense ratio: 0.55%
- Portfolio turnover: 33%
- Brokerage commissions: 0.81 bps of average net assets (SEC N-CEN)
HVAL Cashflows
Over the 12 months to 2023-05, ALPS Hillman Active Value ETF had net outflows of $1.05M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-05 | −$556.51K |
| 2023-04 | $0 |
| 2023-03 | $0 |
| 2023-02 | −$573.57K |
| 2023-01 | $0 |
| 2022-12 | −$6.53K |
HVAL Debt Constituents
No individual debt constituents are reported in ALPS Hillman Active Value ETF's latest SEC N-PORT filing.
HVAL Prospectus and SEC Filings
Official ALPS Hillman Active Value ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-03-30
- Prospectus (485BPOS) — filed 2022-03-30
- Prospectus (485BPOS) — filed 2021-06-25
- Portfolio holdings (N-PORT) — filed 2023-07-28
- Portfolio holdings (N-PORT) — filed 2023-04-28
- Portfolio holdings (N-PORT) — filed 2023-01-30
- Annual census (N-CEN) — filed 2023-02-10
- Annual census (N-CEN) — filed 2022-02-11
Related Funds
Other United States Multi-Cap / All-Cap Value 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.