MVPL ETF — Miller Value Partners Leverage ETF

Miller Value Partners Leverage ETF (MVPL)

Updated October 16, 2026.

MVPL is an ETF. its distribution rate is 0.91%, its trailing-12-month yield is 0.91%, its expense ratio is 1.72%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 87.3% over the past 2.6 years, 31.6 points ahead of SPY at 55.7%.

Miller Value Partners Leverage ETF is an actively-managed ETF that seeks exposure to the S&P 500 Index through tactical allocation between unleveraged and leveraged ETF positions, based on proprietary trading signals from its investment adviser. The fund carries a modest distribution rate and a relatively high expense ratio of 1.72%, with no regular distribution schedule. It appeals to equity investors seeking dynamic leverage management rather than buy-and-hold exposure to the broad market.

MVPL performance versus SPY

Price and return data through 2026-10-16.

Total return is 87.3% over the past 2.6 years, 31.6 points ahead of SPY at 55.7%. Over the past year its total return — price change plus distributions reinvested — is 23.3%. Its deepest 1-year drawdown was 12.7%.

MVPL key facts

Distribution Safety Score™

50 · Unproven

Issuer

Miller Value Partners

Asset type

ETF

Asset class

Equity

Inception date

02/27/2024

Expense ratio

1.72%

Distribution rate

0.91%

Distribution frequency

Annual

Trailing yield

0.91%

Last close

$43.60 (as of 2026-10-16)

AUM

$33,171,985

Average volume

251.0

Dividend

$0.398

Ex-dividend date

12/18/2025

Payment date

12/19/2025

Beta

1.7152

How Dividend Vision calculates yield and returns

Distribution rate (0.91%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (0.91%) 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.

MVPL risks and drawbacks

MVPL'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. The deepest 1-year drawdown on record here is 12.7%.

Who may consider MVPL — and who may not

It is a weaker fit for investors who need monthly cash flow (MVPL pays annual); investors hunting double-digit covered-call yields. This is educational context, not a recommendation to buy or sell.

More on MVPL

• All tickers starting with M

Tagged: Value.

Frequently asked questions

More securities from Miller Value Partners.