The Meb Faber Show · Friday, August 7, 2026
The Cambria Global Value ETF (GVAL) returned approximately 55% in 2025, outperforming all US diversified active ETFs, according to Meb Faber. Faber suggests that while past performance isn't indicative of future results, this performance signals potential opportunities in neglected market segments as market leadership shifts. GVAL focuses on undervalued stocks in less expensive global markets, a strategy that differs from cap-weighted indexes heavily concentrated in US mega-cap stocks.
“In 2025, GVAL put up a very strong year. The fund returned roughly 55% on a net asset value basis, leading all US diversified active ETFs in 2025.”
“But we do think it's worth being ready for. If returns start showing up in places many investors haven't been paying attention to, you'll want a portfolio that can participate. That's exactly what today's fund is trying to capture. The Cambria Global Value ETF, ticker GVAL.”
“The point isn't to celebrate a number, but rather to understand what it signals about neglected parts of the market when sentiment flips.”