The Alpha Architect U.S. Quantitative Value ETF (QVAL) utilizes a systematic, data-driven approach to meticulously select a concentrated portfolio of roughly 50 to 100 American stocks. The primary objective is to pinpoint companies whose shares are currently trading at a discount to their perceived true worth, thereby offering significant upside potential for investors. A stock is deemed "undervalued" by the Adviser when its market price is lower than their calculated intrinsic value – that is, the price at which they believe it would trade if the market fully recognized all aspects contributing to the company's value. Additionally, the fund maintains the flexibility to invest up to 20% of its holdings in various other assets, including cash, highly liquid assets, shares of other investment funds, or a range of different securities and financial instruments.