At a glance
PRVS charges 0.59% a year, above the 0.14% average of the 6 funds most like it (the most expensive of 7). It has $25.3M in assets, the 7th largest of that group; it paid 0.52% of its price in distributions over the past 12 months, annual. Over the past year it returned +19.5% with distributions reinvested (S&P 500: +11.5%), 3rd of those 7 funds. Its ten largest positions make up 48.8% of the fund, out of 27 in all.
The short version
Parnassus Value Select ETF (PRVS) is an actively managed fund holding about 20 to 30 mostly large US stocks that Parnassus Investments judges undervalued, financially sound and run with sustainable business practices. As of June 30, 2026, it was small, with about $25 million in assets, and its largest positions were Amazon, Alphabet and Taiwan Semiconductor. Its 0.59% yearly fee is well above the 0.14% average of similar value ETFs.
Price history
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PRVS +19.5% 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 | |
|---|---|---|---|---|---|---|
| PRVS official prospectus, to Dec 31, 2025 | — | +11.82% | — | — | — | — |
| PRVS price data to Oct 27, 2026 | +16.8% | +19.5% | — | — | — | +15.9% |
- Over the year to Oct 27, 2026, PRVS returned +19.5%, 3rd of 7 among similar funds.
- Its worst full calendar year was 2025 (+18.1%); its best was 2025 (+18.1%).
- The deepest fall in its price history was 17.6% (Jan 23, 2025 to Apr 8, 2025), recovered by Jul 2, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +16.8% | — |
| 2025 | +18.1% | +18.06% |
| 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 |
|---|---|---|
| 2025 | $0.1700 |
What's inside
As of Jun 30, 2026, the fund held 27 securities; the ten largest made up 48.82% of assets.
| Holding | Weight | |
|---|---|---|
| AMAZON.COM INC | 6.18% | |
| ALPHABET INC-CL A | 5.98% | |
| TAIWAN SEMICONDUCTOR-SP ADR | 5.72% | |
| MICRON TECHNOLOGY INC | 5.01% | |
| MICROSOFT CORP | 4.89% | |
| ASTRAZENECA PLC | 4.84% | |
| APPLIED MATERIALS INC | 4.60% | |
| CUMMINS INC | 3.93% | |
| JPMORGAN CHASE & CO | 3.87% | |
| VERIZON COMMUNICATIONS INC | 3.80% | |
| UNION PACIFIC CORP | 3.74% | |
| VISA INC-CLASS A SHARES | 3.67% | |
| BROOKFIELD RENEWABLE CORP | 3.60% | |
| COCA-COLA CO | 3.57% | |
| BANK OF AMERICA CORP | 3.53% |
By country
United States 80.36%Taiwan 5.72%United Kingdom 4.84%Canada 3.6%Ireland 3.47%By asset type
Stocks 99.69%By sector
Sectors of the companies held, for the 74.3% 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 Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $3.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +9.14%, +3.30%, +5.71%.
How it works
PRVS is actively managed; no index sets its holdings. Its adviser, Parnassus Investments, picks about 20 to 30 stocks it believes trade below what they are worth. More than half of assets normally go to companies with a stock market value above the median for the Russell 1000 Value Index at purchase ($14.8 billion as of March 31, 2026). It may also own smaller companies and foreign stocks, including American Depositary Receipts (US-traded shares of foreign companies).
The adviser studies each company's financial statements and looks for a durable competitive advantage: high returns on invested capital, patents, high customer switching costs, a strong brand or low production costs. It judges management and sustainable business practices, including climate risk, product safety, treatment of workers, supply chains and governance, and rechecks them at least yearly. It may drop a holding when the business weakens, better opportunities appear or the company falls short of those standards.
The fund is non-diversified, so it can put more into fewer companies. The manager, not a formula, sets position sizes. As of June 30, 2026, it held 27 stocks and no derivatives, with 48.8% in the top 10, led by Amazon (6.2%), Alphabet (6.0%) and Taiwan Semiconductor (5.7%). Its prospectus filed April 30, 2026 lists portfolio turnover, the share of holdings replaced yearly, at 34.1%.
What it really costs
- PRVS charges 0.59% a year, versus an average of 0.14% for the similar funds below (7th of 7, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $60 in the first year and $738 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| PRVS | $60 | $189 | $329 | $738 |
In a retirement portfolio
With 27 stocks as of June 30, 2026, a record starting in December 2024, about $25 million in assets and a 0.59% fee, it fits better as a smaller add-on than as a portfolio's foundation.
PRVS could add a focused set of hand-picked value stocks next to a broad index fund. It launched on December 12, 2024, so it has no record through the 2008 crisis, the 2020 COVID crash or the 2022 bear market. Its only full calendar year, 2025, returned 18.06%. Its deepest drop, 17.6%, ran from January 23 to April 8, 2025; it regained its old high by July 2, about 2.8 months after the low. Anyone who had to cash out near that low would have locked in the loss.
It is not built for income: the yield was 0.52% as of October 27, 2026, paid once a year. Its yearly fee of 0.59% is far above the 0.14% average of six similar value ETFs. 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 wanting a hand-picked portfolio of 20 to 30 value stocks that weighs sustainable business practices, who accept that results hinge on the manager's picks.
- Those who want a value fund whose top holdings, as of June 30, 2026, included Amazon, Alphabet, Taiwan Semiconductor and Micron alongside JPMorgan and Cummins.
- Long-term investors adding a smaller side holding next to a broad index fund, who can sit through drops like its 17.6% fall in early 2025.
Look elsewhere if
- Cost-conscious investors: its 0.59% yearly fee tops all six similar value ETFs compared, including Vanguard Value ETF (VTV) at 0.04%.
- Investors who need regular income: the yield was 0.52% as of October 27, 2026, and PRVS pays distributions only once a year.
- Investors wanting broad diversification or a long track record: it held 27 stocks as of June 30, 2026, and launched in December 2024.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| PRVS this fund | — | 0.59% | $25.3M | +19.5% | — |
| CGDV Capital Group Dividend Value ETF | 23% | 0.33% | $38.69B | +15.6% | +23.9% |
| IWD iShares Russell 1000 Value ETF | 19% | 0.19% | $79.74B | +28.8% | +22.2% |
| VTV Vanguard Value ETF | 19% | 0.04% | $254.48B | +25.4% | +22.3% |
| SPYV SPDR Portfolio S&P 500 Value ETF | 15% | 0.04% | $35.30B | +16.8% | +17.8% |
| IVE iShares S&P 500 Value ETF | 15% | 0.18% | $47.74B | +16.7% | +17.7% |
| IUSV iShares Core S&P U.S. Value ETF | 14% | 0.04% | $26.46B | +16.8% | +17.8% |
Questions investors ask
What stocks are in PRVS?
As of June 30, 2026, PRVS held 27 stocks, with 48.8% of assets in the top 10. The largest were Amazon (6.2%), Alphabet (6.0%), Taiwan Semiconductor (5.7%), Micron Technology (5.0%), Microsoft (4.9%) and AstraZeneca (4.8%). Applied Materials, Cummins, JPMorgan Chase and Verizon rounded out the top 10. About 80% of assets were in US companies, with the rest mainly in Taiwan, the UK, Canada, Ireland and Israel.
Does PRVS pay a dividend?
Yes, but the payout is small and comes once a year. In the 12 months to October 27, 2026, PRVS paid $0.17 per share, a yield of 0.52%. That fits its stated objective of capital appreciation, meaning growth in share price, rather than income. For regular cash needs, it is worth comparing with funds built to pay income.
What is the PRVS expense ratio?
The expense ratio, the yearly fee deducted from fund assets, is 0.59%, according to the prospectus filed April 30, 2026, with no fee waiver. In the SEC's standard example, $10,000 earning 5% a year, with shares sold at the end of each period, would incur about $60 in costs after one year, $189 after three, $329 after five and $738 after 10. That fee is higher than all six similar value ETFs compared, which average 0.14%; Vanguard Value ETF (VTV) charges 0.04%.
What's the difference between PRVS and CGDV?
The main differences are size, cost and holdings. Of the similar funds compared, Capital Group Dividend Value ETF (CGDV) shares the most holdings with PRVS, though the overlap is low. PRVS is far smaller, at about $25 million as of June 30, 2026, versus about $38.7 billion for CGDV as of August 31, 2026, and it costs more: 0.59% a year versus 0.33%. Over one year, PRVS returned 19.5% through October 27, 2026, and CGDV 15.9% through October 30, 2026.
Is PRVS a risky ETF?
Yes, in some ways. PRVS is non-diversified and, as of June 30, 2026, held just 27 stocks and about $25 million in assets. As of October 27, 2026, its one-year volatility (how widely returns swing) was 13.3% and its beta was 0.88, meaning it moved a little less than the overall market. Its deepest drop was 17.6%, in early 2025. Its small size brings risks its prospectus flags: thin trading, wide bid-ask spreads (a higher cost to trade in and out) and possible delisting.