At a glance
GMOV charges 0.5% a year, above the 0.26% average of the 8 funds most like it (the 7th cheapest of 9). It has $107.1M in assets, the 9th largest of that group; it paid 1.86% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +25.5% with distributions reinvested (S&P 500: +11.5%), 6th of those 9 funds. Its ten largest positions make up 33.0% of the fund, out of 162 in all.
The short version
GMO US Value ETF (GMOV) is an actively managed fund from Grantham, Mayo, Van Otterloo & Co. It does not track an index. Instead, GMO's own valuation models pick about 160 US value stocks. Its definition of value is broad enough that Microsoft and Meta Platforms were its two largest holdings as of August 31, 2026. Its 0.50% expense ratio is roughly double the 0.26% average of similar funds.
Price history
The interactive chart needs JavaScript.
GMOV +25.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| GMOV official prospectus, to Dec 31, 2025 | — | +14.82% | — | — | — | +10.58% |
| GMOV price data to Oct 27, 2026 | +21.3% | +25.5% | — | — | — | +17.3% |
- Over the year to Oct 27, 2026, GMOV returned +25.5%, 6th of 9 among similar funds.
- Its worst full calendar year was 2025 (+14.8%); its best was 2025 (+14.8%).
- The deepest fall in its price history was 16.7% (Nov 25, 2024 to Apr 8, 2025), recovered by Aug 13, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +21.3% | — |
| 2025 | +14.8% | +14.82% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.4700 | |
| 2025 | $0.5400 |
What's inside
As of Aug 31, 2026, the fund held 162 securities; the ten largest made up 33.04% of assets.
| Holding | Weight | |
|---|---|---|
| Microsoft Corp | 7.37% | |
| Meta Platforms Inc | 5.35% | |
| ExxonMobil Holdings Corp | 3.52% | |
| Merck & Co Inc | 3.14% | |
| Verizon Communications Inc | 2.54% | |
| JPMorgan Chase & Co | 2.48% | |
| Pfizer Inc | 2.41% | |
| Bank of America Corp | 2.15% | |
| Bristol-Myers Squibb Co | 2.06% | |
| Johnson & Johnson | 2.01% | |
| QUALCOMM Inc | 1.98% | |
| Regeneron Pharmaceuticals Inc | 1.68% | |
| Cigna Group | 1.67% | |
| Progressive Corp | 1.66% | |
| Procter & Gamble Co | 1.61% |
By country
United States 95.82%Ireland 1.7%Switzerland 0.83%Bermuda 0.62%Netherlands 0.13%By asset type
Stocks 99.11%By sector
Sectors of the companies held, for the 76% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $8.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -1.37%, +5.74%, +3.71%.
How it works
GMO chooses every holding itself rather than copying an index. It uses its own quantitative models, meaning computer-driven rules, to find US stocks it expects to beat other US stocks. A key step is estimating what a company's assets are worth. That includes tangible assets like factories and intangible ones like brands. GMO then builds return forecasts from those estimates. Some models compare a stock's price with measures such as earnings, cash flow, profitability and return on invested capital, and check those against past averages. Other models look at price trends, volatility and the wider economy.
Two rules limit the portfolio. At least 80% must be in value companies. That means stocks in the MSCI ACWI IMI Value Index or another independent value index, or stocks GMO's models rate as cheaper than at least half of its universe. At least 80% must also be tied economically to the US. GMO sizes positions with sector exposure, company size, liquidity and trading costs in mind, and it may lean heavily on one sector. It generally avoids makers of cluster munitions and companies mainly in thermal coal mining.
The prospectus sets no fixed rebalancing schedule. Portfolio turnover was 22%. As of August 31, 2026, the fund held 99.11% in stocks and 0.74% in cash, with no derivatives. It may lend its securities and may also hold the GMO U.S. Treasury Fund or money market funds.
What it really costs
- GMOV charges 0.5% a year, versus an average of 0.26% for the similar funds below (7th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $51 in the first year and $628 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| GMOV | $51 | $160 | $280 | $628 |
In a retirement portfolio
GMOV adds an actively chosen US value tilt that could sit beside a broad index fund, but it is too new and costly to anchor a portfolio.
GMOV could add a value tilt to a portfolio built around a broad index fund. As of August 31, 2026, its biggest sectors were financials (20.2%) and health care (16.1%). It launched on October 28, 2024, so it has no record from the 2008, 2020 or 2022 sell-offs. Its only full calendar year, 2025, returned 14.82%. Its deepest drop was 16.7%, from November 25, 2024 to April 8, 2025. It had fully recovered by August 13, 2025, about four months after the low. Anyone who sold near that low would have locked in the loss.
The yield was 1.86% as of October 27, 2026, paid quarterly. Costs run 0.50% a year. In the SEC's standard example, that comes to $51 in the first year and $628 over 10 years on $10,000. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want GMO's model-driven take on value, with about 160 US stocks chosen by the manager rather than by a value index.
- Those comfortable with a value fund led by Microsoft and Meta, held alongside ExxonMobil, Merck, Verizon and JPMorgan Chase as of August 31, 2026.
- Holders looking for modest quarterly income. The trailing yield was 1.86%, or $0.61 per share, as of October 27, 2026.
Look elsewhere if
- Cost-focused investors. The 0.50% expense ratio is far above Vanguard Value ETF's 0.04% and Avantis U.S. Large Cap Value ETF's 0.15%.
- Anyone who wants a long track record. The fund launched in October 2024 and has never been through a deep, long bear market.
- Those who prefer large funds. With $107 million in net assets as of August 31, 2026, it was the smallest of nine similar funds.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| GMOV this fund | — | 0.5% | $107.1M | +25.5% | — |
| DFLV Dimensional US Large Cap Value ETF | 41% | 0.22% | $6.77B | +27.5% | +23.4% |
| PWV Invesco Large Cap Value ETF | 40% | 0.53% | $1.73B | +23.4% | +24.3% |
| RAFE PIMCO RAFI ESG U.S. ETF | 40% | 0.29% | $160.5M | +22.9% | +24.1% |
| DIVB iShares Core Dividend ETF | 38% | 0.05% | $1.71B | +35.8% | +28.8% |
| DFUV Dimensional US Marketwide Value ETF | 37% | 0.21% | $15.43B | +28.9% | +21.4% |
| AVLV Avantis U.S. Large Cap Value ETF | 33% | 0.15% | $21.57B | +30.9% | +23.5% |
| VTV Vanguard Value ETF | 33% | 0.04% | $254.48B | +25.4% | +22.3% |
Questions investors ask
Is GMOV good for retirement?
It may suit some retirement investors as a value-focused add-on rather than a sole holding. It owns about 160 US stocks and pays income quarterly, yielding 1.86% as of October 27, 2026. Its drawbacks are a short history, since it launched in October 2024, and a 0.50% expense ratio, well above the 0.26% average of similar funds. Its deepest drop so far was 16.7%, and it took about four months to recover from the low.
What stocks are in GMOV?
As of August 31, 2026, its largest holdings were Microsoft (7.4%), Meta Platforms (5.4%), ExxonMobil (3.5%), Merck (3.1%), Verizon (2.5%), JPMorgan Chase (2.5%) and Pfizer (2.4%). The top 10 made up 33% of the fund's 162 holdings. Financials were the largest sector at 20.2%, followed by health care at 16.1% and technology at 13.1%. About 96% was in US companies.
Does GMOV pay dividends?
Yes. GMOV pays distributions quarterly. Over the 12 months to October 27, 2026, it paid $0.61 per share, a trailing yield of 1.86%. That is income from the dividends its stocks pay, minus fund costs, so the amount can rise or fall from one quarter to the next. The fund aims for total return, which means growth plus income, rather than income alone.
GMOV vs DFLV: what's the difference?
The biggest gaps are cost and size. Dimensional US Large Cap Value ETF (DFLV) has an expense ratio of 0.22%, compared with GMOV's 0.50%. DFLV held $6.8 billion as of July 31, 2026, against GMOV's $107 million as of August 31, 2026. The two shared about 41% of their holdings, the most of any similar fund. Over the year to October 27, 2026, DFLV returned 27.5% and GMOV returned 25.5%.
How has GMOV performed since launch?
In its official prospectus figures, GMOV returned 14.82% in 2025, its only full calendar year. Its average annual return since launch was 10.58% through December 31, 2025. Its strongest quarter gained 5.75% and its weakest lost 1.99%. Based on price, it returned 25.5% over the year to October 27, 2026, and 21.3% year to date through that date. That year-to-date figure is not a full calendar year.