This International Value ETF Is Up 50% in a Year, but One Fund Slashed Its Stake by $36 Million

2026-02-27 07:05:39

On February 17, 2026, Obsidian CIO disclosed in an SEC filing that it sold 466,417 shares of the JPMorgan International Value ETF (JIVE 0.09%) in the fourth quarter, an estimated $36.26 million trade based on quarterly average pricing.

What happened

According to a SEC filing dated February 17, 2026, Obsidian CIO sold 466,417 shares of the** JPMorgan International Value ETF** (JIVE 0.09%) in the fourth quarter. The estimated value of the trade was $36.26 million, calculated using the quarter’s average closing price. The fund ended the quarter with 33,239 shares, worth $2.67 million; its JIVE position’s value dropped by $35.01 million over the period.

What else to know

Obsidian CIO’s JIVE stake now represents 3.95% of reportable 13F AUM after the sale
Top holdings post-filing:
- NYSEMKT:IWB: $4.61 million (6.8% of AUM)
- NYSEMKT:VV: $4.51 million (6.7% of AUM)
- NYSEMKT:IVV: $3.56 million (5.3% of AUM)
- NYSEMKT:JPST: $3.07 million (4.6% of AUM)
- NYSEMKT:IJR: $2.96 million (4.4% of AUM)
As of February 18, 2026, JIVE shares were priced at $90.32, up 53.6% over the past year and well outperforming the S&P 500’s roughly 16% gain in the same period.

ETF overview

Metric	Value
Net assets	$1.4 billion
Yield	2%
Price (as of market close 2026-02-18)	$90.32

ETF snapshot

JIVE’s investment strategy focuses on equity securities and equity-related instruments of foreign companies, including both developed and emerging markets.
The portfolio composition includes issuers from diversified geographies such as Australia, Canada, Japan, Western Europe, and select emerging markets.
The fund structure is an exchange-traded fund (ETF) with a dividend yield of 2% for income-oriented investors.

The JPMorgan International Value ETF provides investors with diversified exposure to international equities, targeting both developed and emerging markets through a value-oriented investment approach. The fund invests in equity securities of foreign companies across both developed and emerging markets. Its broad geographic reach offers investors access to a wide array of international opportunities.

What this transaction means for investors

A nearly $36 million reduction in an international value ETF that has climbed more than 50% over the past year looks more like active risk management as opposed to a wholesale rejection of the strategy.

The JPMorgan International Value ETF, which launched in September 2023, has delivered a 55% one year return at NAV and roughly 50% for calendar 2025, outpacing its MSCI ACWI ex USA Value benchmark. As of late February, it traded around $91.92 with 355 holdings. Financials make up about 35% of the portfolio, with meaningful exposure to Europe and Asia.

Against a backdrop of broad U.S. large-cap exposure in holdings like IWB, IVV, and VV, this sale looks like a tilt back toward domestic core equity rather than an outright bearish call on international markets. The ETF, after all, still represents roughly 4% of assets, so the position remains meaningful.

Ultimately, for long-term investors, the takeaway is discipline. When a diversified international allocation runs up more than 50% in a year, trimming can be about rebalancing and concentration control, not market timing.

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