Pzena International Value ETF (PZIV) Stock Price, Quote, News & History | Benzinga

To achieve its objective, the Pzena International Value ETF invests at least 80 percent of its net assets (plus any borrowings for investment purposes) in common stocks of non-U.S. companies. The Fund defines non-U.S. companies primarily as those classified as non-U.S. by Morgan Stanley Capital International (MSCI). The Adviser determines a companys country by referring to one or more of the following: its stock exchange listing; where it is registered, organized or incorporated; where its headquarters are located; its MSCI country classification; where it derives at least 50 percent of its revenues or profits from goods produced or sold, investments made, or services performed; or where at least 50 percent of its assets are located. As part of its investments in non-U.S. companies, the Fund may invest in emerging markets and frontier markets. The Adviser defines emerging market countries as to be those defined by the MSCI Emerging Markets Index. The Adviser defines frontier markets as countries with investable stock markets that are less established than those in the emerging markets. The Fund may invest in companies of any size market capitalization. The Fund defines value companies as those that are in the three lowest quintiles of valuation of the investment universe based on estimated future earnings. The Adviser will also include companies classified as value securities by MSCI, Russell/FTSE, and Bloomberg indexes.