Motley Fool Value Factor ETF

Key Statistics

Historical Performance

Total return including reinvested distributions, from adjusted closing prices.

Top Holdings

Top 25 holdings as of Feb 28, 2026 · source: SEC N-PORT. Full holdings & prospectus →

About MFVL

The Value Fund is an exchange-traded fund (“ETF”) and employs a “passive management” – or indexing – investment approach designed to track the total return performance, before fees and expenses, of the Value Index. Motley Fool Asset Management, LLC (the “Adviser”) serves as the investment adviser to the Value Fund. The Motley Fool Value Index TheValue Index was established in 2025 by Motley Fool Investment Analytics, LLC (the “Index Provider”), and is a proprietary,rules-based index designed to track the performance of the highest scoring stocks of U.S. companies, measured by a stock’s value,that have been recommended by the analysts and newsletters of The Motley Fool, LLC (“TMF”) and that also meet certain liquidityrequirements. Both the Index Provider and TMF are affiliates of the Adviser. Value is a measure of a stock’s attractiveness based on ratios that compare fundamental anchors to market valuations. The Index Provider’s “recommendation universe” includes all companies domiciled in the United States that are either active recommendations of a newsletter published by TMF or are among the 150 highest rated U.S. companies in TMF’s analyst opinion database, subject to universe continuity rules. With respect to universe continuity, the Value Index is constructed utilizing a buffering methodology. The buffer is intended to reduce index turnover from movements in constituent weightings that could result in a company dropping out of the index only to be added back with the next rebalance. Specifically, stocks ranked in the top 105 positions based on TMF’s analyst opinion database (70% of the 150-stock target) are automatically included in the candidate universe. Additionally, companies that were previously eligible based on their TMF analyst ratings will still be included as long as their rank is equal to or better than 195 (130% of the 150-stock target). Stocks are then added based on conviction score rank until the 150-stock target is reached. Companies that meet the requirements for universe inclusion must also meet the minimum requirements for liquidity and for calculating the Value Factor Score. Specifically, the liquidity requirements mandate that at least $1 million worth of a company’s shares trade daily, on average, during the preceding three months. With respect to calculating value, a stock must be assigned numerical values for each of the three component scores that comprise the Value Factor Score. Additionally, stocks must have positive raw values for each Value component score in order to be included in the candidate stock universe for the Value Index on a given weighting date. The Index Provider’s proprietary Value Factor Score is a composite score that utilizes modified calculations of valuation metrics such as book-to-price, gross earning yield, and total shareholder yield to assess a company’s value attractiveness. To determine final index membership, candidate stocks are first ranked based on their composite Value Factor Scores. The top 100 stocks are then selected based on index continuity rules. If fewer than 100 stocks remain after liquidity and metric-specific value screens are applied, then all eligible securities are included in the index. Each selected company’s share of the Value Index (or “weighting”) is set to equal the company’s share of all Value Index companies’ aggregate market value multiplied by their respective Value Factor Scores. A maximum position size limit of 4.8% is also enforced (tested at the time of rebalancing and subject to index continuity rules). The Value Index is reconstituted and rebalanced quarterly. The index methodology for the Value Index applies an enhanced calculation logic to reconstitutions and special month-end rebalances as needed to keep the Value Index constituent weights in conformity with tax code diversification requirements for registered investment companies. When applicable, position weights will be adjusted during a reconstitution or special rebalance to ensure that no individual position exceeds 24% of the Value Index and the percentage of the Value Index comprised of individual positions in excess of 4.8% does not cumulatively exceed 48%. The Value Index will typically include 70-100 companies at any one time and may contain companies of any size capitalization. The Value Index is calculated and administered by VettaFi, LLC (the “Index Calculation Agent”), which is not affiliated with the Value Fund or the Adviser. The Index Provider also serves as the Adviser to the Value Fund. Additional information regarding the Value Index, including its value, is available on the websites of the Value Index at www.foolindices.com and the Index Calculation Agent, at www.vettafi.com. The Value Fund’s Investment Strategy Under normal circumstances, at least 80% of the Value Fund’s total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the Value Index. The Adviser expects that, over time, if it has sufficient assets, the correlation between the Value Fund’s performance and that of the Value Index, before fees and expenses, will be 95% or better. The Value Fund will generally use a “replication” strategy to achieve its investment objective, meaning it generally will invest in all of the component securities of the Value Index. However, the Value Fund may use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Value Index whose risk, return and other characteristics closely resemble the risk, return and other characteristics of the Value Index as a whole, when the Adviser believes it is in the best interests of the Value Fund (e.g., when replicating the Value Index involves practical difficulties or substantial costs, a Value Index constituent becomes temporarily illiquid, unavailable or less liquid, or as a result of legal restrictions or limitations that apply to the Value Fund but not to the Value Index). The Value Fund generally may invest up to 20% of its total assets (exclusive of any collateral held from securities lending) in securities or other investments not included in the Value Index, but which the Adviser believes will help the Value Fund track the Value Index. For example, the Value Fund may invest in securities that are not components of the Value Index to reflect various corporate actions and other changes to the Value Index (such as reconstitutions, additions and deletions). The Value Fund is non-diversified for the purposes of the Investment Company Act of 1940, as amended (“1940 Act”), which means that the Value Fund may invest in fewer securities at any one time than a diversified fund. To the extent the Value Index concentrates (i.e., holds more than 25% of its total assets) in the securities of a particular industry, the Value Fund will concentrate its investments to approximately the same extent as the Value Index. The Value Fund may also seek to increase its income by lending securities. The Value Fund has elected to be, and intends to qualify each year for treatment as, a regulated investment company (“RIC”) under Subchapter M of Subtitle A, Chapter 1, of the Internal Revenue Code of 1986, as amended (the “Code”).

MFVL News

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