MVPA ETF — Miller Value Partners Appreciation ETF

Miller Value Partners Appreciation ETF (MVPA)

Updated October 16, 2026.

MVPA is an ETF. its distribution rate is 0.52%, its trailing-12-month yield is 0.52%, its expense ratio is 0.60%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 47.5% over the past 2.7 years, 15.7 points behind SPY at 63.2%.

Miller Value Partners Appreciation ETF is an actively managed equity ETF that seeks outperformance of the S&P 500 Index by investing in a concentrated portfolio of approximately 20 to 40 common stocks selected by the adviser without regard to market capitalization. The fund carries a modest expense ratio of 0.60% and currently distributes at a low rate. This ETF appeals to investors seeking active management and concentrated equity exposure rather than broad market indexing or regular income generation.

MVPA performance versus SPY

Price and return data through 2026-10-16.

Total return is 47.5% over the past 2.7 years, 15.7 points behind SPY at 63.2%. Over the past year its total return — price change plus distributions reinvested — is 8.1%. Its deepest 1-year drawdown was 13.8%.

MVPA key facts

Distribution Safety Score™

50 · Unproven

Issuer

Miller Value Partners

Asset type

ETF

Asset class

Equity

Inception date

01/30/2024

Expense ratio

0.60%

Distribution rate

0.52%

Distribution frequency

Annual

Trailing yield

0.52%

Last close

$35.83 (as of 2026-10-16)

AUM

$72,558,267

Average volume

692.0

Dividend

$0.186

Ex-dividend date

12/18/2025

Payment date

12/19/2025

Beta

1.004

How Dividend Vision calculates yield and returns

Distribution rate (0.52%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (0.52%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Miller Value Partners; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

MVPA risks and drawbacks

MVPA's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 13.8%.

Who may consider MVPA — and who may not

It is a weaker fit for investors who need monthly cash flow (MVPA pays annual); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on MVPA

• All tickers starting with M

Tagged: Value.

Frequently asked questions

More securities from Miller Value Partners.