ETF advisor Exchange Traded Concepts has partnered with Tiedemann Wealth Management to launch a new Deep Value ETF (DVP) on the NYSE Arca.
The new ETF, which is an advanced beta strategy created by Tiedemann Wealth, seeks to provide investors with concentrated exposure to attractively valued dividend-paying companies with positive earnings, strong free cash flows and solid balance sheets.
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The new ETF tracks the TWM Deep Value Index that contains 20 large cap stocks that are undervalued compared to the S&P 500 Index.
The ETF will be advised by Exchange Traded Concepts and Mellon Capital.
Paul Buongiorno, managing director and chief investment strategist at Tiedemann Wealth Management, said: "TWM Deep Value Index was developed to provide exposure to undervalued, dividend paying stocks where value creation is expected to come from improving fundamentals, investor activism, or merger and acquisition activity.
"In light of the many potential benefits of ETFs, including a more tax efficient structure, transparency, liquidity and cost, we are pleased to be collaborating with Exchange Traded Concepts on the launch of the Deep Value ETF," he added.
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