SEI QiM U.S. Large Cap Value Active ETF

SEIV

時価総額 $15.9億

The state of the crypto ETF market and a remarkable ETF growth story headlined this week's ETF Prime. Host Nate Geraci welcomed Roxanna Islam, head of sector and industry research at VettaFi, followed by Robert Hum of SEI.

SEI Enhanced US Large Cap Value ETF (SEIV) earns a 'buy' rating for its multi-factor approach and strong recent outperformance versus peers. SEIV stands out with a 11.01x forward P/E and 12.26% next-year EPS growth rate, making it an excellent GARP play. Potential weaknesses include an EPS growth acceleration statistic that indicate SEIV's holdings have almost fully recovered from three years ago, when earnings were close to flat.

I directly compare the performance and fundamentals of the passively managed Vanguard Value ETF and the actively managed SEI Enhanced US Large Cap Value Factor ETF. VTV is easily the most popular choice, evidenced by its $169B assets under management and minimal 0.01% bid/ask spread. However, its index is constrained on the earnings growth front. In contrast, SEIV's active approach allows it to leave no factor behind. While its 11.44x forward P/E is extremely low, SEIV also excels on growth, quality, and momentum.

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SEI Enhanced US Large Cap Value Factor ETF offers deep value with a unique overweight in technology and communication services sectors. SEIV trades at a steep discount to the Russell 1000, with a P/E of 11.1, despite significant tech exposure, and maintains balanced market cap allocation. The fund has outperformed value peers over three years, with higher volatility but the best Sharpe ratio in its category, reflecting strong risk-adjusted returns.

SEI Enhanced US Large Cap Value Factor ETF (SEIV) earns a Buy rating for its superior returns, low expense ratio, and moderate risk profile. SEIV outperformed the S&P 500 and peers, driven by data-driven stock selection, active management, and strong exposure to mega-cap tech stocks. The ETF's diversified portfolio, robust dividend growth, and sector allocation position SEIV for continued market-beating performance.

SEIV is an actively managed ETF prioritizing the value factor, though quality, momentum, and low volatility are also considered during the optimization process. Heavy in IT, SEIV has a quality and value factor mix that is superior to IVE's, with a higher adjusted EY, lower P/S, and a stronger Return on Total Capital. However, despite beating a few value ETFs, it has underperformed the iShares Russell 1000 ETF and the iShares Core S&P 500 ETF since inception.