Applied Finance IVS US SMID ETF
$29.79+0.14 (+0.49%)
- 0.59%
- $28M
- 0M sh
- $29.56
- low $25.05high $31.38
The ETF.net IVSS Grade
C
Score 53 out of 100
- 19 of 48
Score 53 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C48 out of 100Rank 25 of 48Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A78 out of 100Rank 4 of 44Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D30 out of 100Rank 42 of 48Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A73 out of 100Rank 13 of 48Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C42 out of 100Rank 35 of 48
Our read on IVSS
CMost value funds screen for a low P/E. Applied Finance models what a company is actually worth, then buys the US small and mid caps trading below that number. Roughly 150 names, actively managed, launched in 2025.
The Fund seeks long-term capital appreciation.
Why people hold it
- Value here means price versus a modeled intrinsic value, not a cheap multiple. The IVS model weighs profitability, competition, growth, cost of capital and financing activity.sec.govappliedfinance.com
- 0.59% for genuine active stock picking, below the median fee in the active US equity crowd.
- The adviser expects to hold at least 150 positions, all sub-$15 billion at purchase, so one small-cap stumble does not steer the portfolio.sec.gov
- SMID is where analyst coverage thins out, which is the terrain a valuation model is built to comb through.appliedfinance.com
Worth knowing
- It opened in December 2025. Live track record is short and the fund is still building its asset base.
- Trading is light compared with big index funds, so bid-ask spreads can run wider.
- Classified non-diversified, meaning it is permitted to hold larger stakes in individual names than a diversified fund. Distributions come annually or semiannually.sec.gov
IVSS Holdings
- Stocks
- 358
- 14%
- DAVE
Geography
- United States90.12%
- Bermuda4.04%
- Monaco1.11%
- Uruguay1.01%
- Ireland0.76%
- United Kingdom0.67%
- Israel0.48%
- Switzerland0.46%
- 1.34%
IVSS Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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IVSS$11,753
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | IVSS |
|---|---|
| Year to date | +17.5% |
| 1 month | −0.4% |
| 3 months | −1.6% |
| 1 year | — |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | IVSS |
|---|---|---|
| 2026 YTD | +17.5% | |
| 2025 | 0.0% |
IVSS in the news
IVSS Dividends
- $0.02 per share
- Irregular
Distribution data unavailable.
Distribution history
IVSS Risk
- —
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- —
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- —
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.52
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
IVSS Cost
0.59%
IVSS0.59%
- The middle half of US Active Small/Mid-Cap funds
- Median 0.59%
23 of the 47 US Active Small/Mid-Cap funds charge less.
Other funds in US Active Small/Mid-Cap
- CAFMCFirst Trust Active Factor Mid Cap ETFExpense ratio 0.68%1 year return +23.7%
- CRNINEA Series Trust - Bushido Capital US SMID Cap Equity ETFExpense ratio 0.68%1 year return +40.1%
- CDSMCDistillate Small/Mid Cash Flow ETFExpense ratio 0.55%1 year return +27.3%
- CSMCOHilton Small-MidCap Opportunity ETFExpense ratio 0.55%1 year return +8.2%
- CSMIZZacks Small/Mid Cap ETFExpense ratio 0.60%1 year return +15.9%