CFCV is actively managed to select undervalued US large-cap stocks with high ROIC. The fund adviser selects a concentrated portfolio of 30-40 stocks with attractive risk-adjusted returns using a fundamental bottom-up approach together with a macroeconomic outlook. Additionally, their proprietary research approach includes an assessment of a companys compliance to ESG standards such as innovative workplace policies, employee benefits and programs, environmental management system strength, eco-efficiency, and strong corporate governance. Prior to July 1, 2021, the fund was named ClearBridge Focus Value ETF. On Dec. 16, 2022, the funds structure changed from non-transparent to transparent that discloses portfolio holdings on a daily basis.