RIA Ideas - Value is calling
Growth Note — Value (IVE)
If value’s turn comes, you’ll want to already own it — at a discount, with a cushion.
Growth (IVW) trades at ~30x earnings; value (IVE) at ~24x (Yahoo Finance, as of 7/14/2026). Value has trailed the megacap-growth run for years — and no one rings a bell when market leadership rotates.
Two things may work in value’s favor if it does. It starts at a lower multiple, so there’s less to unwind if growth cools. And it has historically held up far better when the megacaps crack — in the 2022 selloff, value (IVE) fell just 5.9% while growth dropped 30.1%. A 5-year note may let clients position for a value turn, with a barrier that returns principal unless value finishes more than 20% lower.
A discount to growth — and it held up far better when growth last cracked
Valuations and 2022 returns: Yahoo Finance, as of 7/14/2026 · marinelayeradvisors.com/insights
One Way To Position For a Value Turn
5-Year IVE Point-to-Point Growth Note
~115% Upside Participation
IVE (S&P 500 Value) · 5-year · point-to-point · 80% barrier (observed at maturity)
Indicative levels only.
Here’s how the note pays at maturity:
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This material is for informational purposes only and does not constitute a recommendation. Data sourced from public sources (valuations and 2022 returns: Yahoo Finance, as of 7/14/2026) and has not been independently verified. Past performance is not indicative of future results. Structured notes involve risks including potential loss of principal. A growth note with a knock-in barrier provides contingent protection only — if IVE finishes below the 80% barrier at maturity, the investor is exposed to the full decline from the initial level, not merely the amount beyond the barrier. Terms shown are indicative, subject to issuer credit risk, market conditions, and availability at time of execution.
