Hotchkis and Wiley International Value Fund (HWIV)

On our desk, the debut of HWIV on NASDAQ on July 22, 2026, caught our attention as a clean way to access an established international value strategy via an ETF wrapper. With a 70 basis point expense ratio, it matches the underlying mutual fund pool while offering intraday trading flexibility. Market demand for active value-oriented international strategies is noticeably firmer amid ongoing global monetary policy divergences.

Watching the 50-day moving averages and recent pricing around $26.58 to $26.64, the technical outlook presents a fascinating contradiction. While short-term algorithms flag a strong buy, there's a lingering bearish Death Cross on longer-term moving averages. Risk managers need to account for the core exposures here: foreign markets, currency fluctuations, and emerging-markets risks remain central to the thesis.

From a structural standpoint, the fee setup is worth noting. The advisor has contractually agreed to waive advisory fees and/or reimburse expenses through August 29, 2027. Investors must remember that total returns currently reflect these fee waivers in effect, meaning baseline performance without waivers would be moderately reduced once the waiver period sunsets next year.

Sentiment across the financial intelligence feeds indicates that HWIV's launch coincides with a broader rotation toward global value investing. As persistence in inflation and market volatility prompt investors to look beyond domestic equities, vehicles that offer both tax efficiency and established international asset pools are seeing heightened scrutiny and discussion among institutional observers.

When evaluating the investment team behind the International Value Fund, our research shows deep tenure with the firm—ranging from portfolio managers with 19 to 29 years at Hotchkis and Wiley and 26 to 35 years of industry experience. This steady, research-driven platform targets 40 to 80 attractively valued non-U.S. companies managed by shareholder-friendly teams, offering a compelling qualitative anchor for fundamental allocators.