ETF Evaluator:
Morgan Dempsey Large Cap Value ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Large Value Over the Last Year
| 72.4% | iShares MSCI USA Value Factor ETF (VLUE) |
| 39.0% | SEI QiM U.S. Lrg Cap Value Actv ETF (SEIV) |
| 34.8% | LSV Disciplined Value ETF (LSVD) |
| 34.7% | iShares Core Dividend ETF (DIVB) |
| 34.4% | Avantis US Large Cap Value ETF (AVLV) |
Risk
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Risk
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ETF Details
Morgan Dempsey Large Cap Value ETF Overview
Morgan Dempsey Large Cap Value ETF (MDLV) is an actively managed U.S. Equity Large Value exchange-traded fund (ETF). Morgan Dempsey launched the ETF in 2023.
The investment seeks to provide a high level of current income and long-term capital appreciation.
The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in dividend paying companies that the fund’s sub-adviser, Morgan Dempsey Capital Management, LLC (the “Sub-Adviser”), believes are attractively valued. Under normal circumstances, the fund will invest at least 80% of its net assets in equity securities of large cap companies.
About Morgan Dempsey Large Cap Value ETF (MDLV)
There are 3 members of the management team with an average tenure of 3.27 years: Marc Dion (2023), Ryan Hamilton (2023) and Dave Isaacson (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Solactive GBS United States 1000 TR USD index with a weighting of 100% and Solactive US LC Mini Dwnsde Vlt TR USD index with a weighting of 100%. Morgan Dempsey Large Cap Value ETF has 40 securities in its portfolio. The top 10 holdings constitute 33.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Morgan Dempsey Large Cap Value ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Morgan Dempsey Large Cap Value ETF has 6.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 87.0% There is 6.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Morgan Dempsey Large Cap Value ETF has 6.1% of the portfolio in cash.
Assets Under Management
The fund has $42 million in total assets, which is below the $5 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
MDLV Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Morgan Dempsey Large Cap Value ETF expense ratio is average compared to funds in the Large Value category. Morgan Dempsey Large Cap Value ETF has an expense ratio of 0.58%, which is 55% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Morgan Dempsey Large Cap Value ETF has a portfolio turnover rate of 19%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 40% for the Large Value category.
Recently, in the month of July 2026, Morgan Dempsey Large Cap Value ETF returned 2.4%, which earned it a grade of C, as the Large Value category had an average return of 2.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Morgan Dempsey Large Cap Value ETF has a trailing yield of 2.70%, which is above the 1.70% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Morgan Dempsey Large Cap Value ETF Grades
Year to date, the ETF has returned 12.4%, 2.0 percentage points worse than the category, which translates into a grade of D. The fund has returned 19.2% over the past year (grade of F) and 12.5% over the past three years (grade of F).
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MDLV Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MDLV Return (NAV) | 2.4% | 2.8% | 19.2% | 12.5% | na | na |
| MDLV Return (Price) | 2.5% | 2.9% | 19.4% | 12.5% | na | na |
| NAV +/- Price Return | -0.103% | -0.054% | -0.210% | -0.090% | na | na |
| Large Value Avg | 2.4% | 5.9% | 24.1% | 16.3% | 11.3% | 12.1% |
| MDLV Grade (NAV) | C | F | F | F | na | na |
| +/- Category (NAV) | 0.0% | -3.1% | -4.9% | -3.8% | na | na |
| MDLV Tax-Cost Ratio | na | na | 1.2% | 1.3% | na | na |
MDLV Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MDLV Return (NAV) | 12.4% | 13.5% | 10.0% | na | na | na | na | na | na | na | na |
| MDLV Return (Price) | 12.5% | 13.3% | 10.2% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.005% | -0.012% | 0.014% | na | na | na | na | na | na | na | na |
| Large Value Avg | 14.4% | 14.8% | 15.5% | 13.1% | -6.5% | 26.7% | 5.4% | 27.4% | -6.6% | 17.7% | 15.7% |
| MDLV Grade (NAV) | D | D | F | na | na | na | na | na | na | na | na |
| +/- Category | -2.0% | -1.4% | -5.4% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.37 |
| R-Squared: | 26% |
| Standard Deviation: | 9.5% |
| Category Risk Index: | 0.78 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.78 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 2.7% |
| Total Assets: | $ 43 Mil |
| Share Class Assets: | $ 43 Mil |
| Turnover: | 19.0% |
| Expense Ratio: | 0.58% |
| Index Fund: | No |
| Index Tracked: | Solactive GBS United States 1000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 3.3 years | |||
| Average Tenure: 3.3 years | |||
| Managers (Year): Dion Marc (2023), Hamilton Ryan (2023), Isaacson Dave (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 40 |
| % in Top 10 Holdings: | 33.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 6.9% |
Portfolio Allocation |
|
| Domestic Stock: | 87.0% |
| Foreign Stock: | 6.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 6.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Morgan Dempsey |
| Phone Number: | 215-330-4476 |
| Website: | www.valueshares.com |
| Inception Date: | April 25, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.58% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.37% |
