TCV – Towle Small-Cap Value ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks long-term capital appreciation. The fund primarily invests in equity securities of publicly traded companies that list on a U.S. exchange that the fund’s sub-adviser, Towle & Co. (the “Sub-Adviser”) believes are undervalued. The fund generally expects to invest a majority of its net assets in equity securities of U.S. companies. It is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
TCV	Towle Small-Cap Value ETF	ETF	Open			Oct 31, 2011	$202.44M	0.850%	Above Average	—	$74.56M

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