What this ETF is trying to do

The AMERICAN CENTURY FOCUSED LARGE CAP VALUE ETF (ticker: FLV) is an exchange-traded fund designed to invest in large companies that are considered "value" stocks. This means the fund focuses on established companies that may be priced lower relative to their actual worth.

What the numbers show

The current price of FLV is $83.77. When looking at how the fund has performed, it is important to look at two different types of returns: price return (the change in the share price) and total return (which includes both the share price change and any cash distributions paid out).

• Year-to-Date (YTD): The price return is approximately 10.56%, while the total return is approximately 11.85%.

• One-Year: The price return was approximately 14.05%, and the total return was approximately 16.10%.

• Three-Year: The price return was approximately 48.18%, and the total return was approximately 56.95%.

For a sense of how the price has moved, an estimated price from roughly one year ago was $73.45.

Income and distribution explanation

FLV provides cash distributions to investors. The distribution yield is approximately 1.70%. This number describes the cash paid out relative to the current ETF price. The fund usually pays these distributions on a quarterly basis, with 4 payouts recorded over the last 12 months.

It is important to remember that a distribution yield is not the same as total return. Total return tells you the complete picture of how much value was gained, including the cash received.

NAV erosion explanation

"NAV erosion" refers to a decline in the Net Asset Value (the actual value of the assets held by the fund). The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

However, the fund's price-based health looks strong according to the provided metrics. The erosion-risk score is 100, which is labeled as "No price erosion detected," and the erosion severity is rated as "good." There is no severe erosion-risk flag for this ETF.

Top Holdings

The following are the top holdings in the fund (note that this is a partial list):

• MARSH: 4.13%

• DUKE ENERGY CORP: 3.62%

• BERKSHIRE HATHAWAY INC CLASS B: 3.54%

• MICROSOFT CORP: 3.54%

• JOHNSON & JOHNSON: 3.36%

• JPMORGAN CHASE & CO: 3.32%

• BECTON DICKINSON & CO: 3.27%

• AMAZON.COM INC: 3.15%

• ONEOK INC: 2.76%

• BLACKROCK INC: 2.72%

Holdings can change over time. This data was updated on October 11, 2026.

Pros

• The fund has shown positive price returns and total returns over the one-year and three-year periods.

• It has a high income rating grade of "A."

Cons

• The distribution yield is relatively low compared to some other types of income-focused funds.

Beginner takeaway

FLV is a large-cap value ETF that has recently seen growth in both its share price and its total return. While it provides quarterly distributions, the primary driver of its recent performance has been the increase in share price.