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Launched · SEC filings

Applied Finance IVS US SMID ETF

IVSSNasdaqApplied FinanceC

$30.56+0.10 (+0.33%)

At close: Nov 2, 2026, 4:00 PM ET

C53/ 100

Rank 21 of 47 in US Active Small/Mid-Cap

C53/100Rank 21 of 47inUS Active Small/Mid-Cap
Intraday session: up, 77 prints from 30.46 to 30.56. Range 30.51 to 30.91. Use the arrow keys to read each point.30.7030.8030.9010 AM12 PM2 PM4 PM
Expense ratio
0.59%
Fund size
$31M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
356
Avg volume · 30D
3.91K sh
52W range
low $25.05high $31.38
Launched
Filings
SEC EDGAR

The ETF.net IVSS Grade

Based on 5 of 6 pillars

C

Score 53 out of 100

Category
US Active Small/Mid-Cap⁠
Rank
21 of 47
Six-pillar profile for IVSS. Scores out of 100: Cost 47, Risk 76, Mission not scored, Tradability 34, Holdings 73, Durability 43. Strongest: Risk (76). Weakest: Tradability (34). Based on 5 of 6 pillars.

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.
    C47 out of 100
    Rank 25 of 47

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A76 out of 100
    Rank 6 of 44

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D34 out of 100
    Rank 42 of 47

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A73 out of 100
    Rank 12 of 47

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C43 out of 100
    Rank 34 of 47

Our read on IVSS

ETF.net Research

In short

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.

Stated mandate

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 Performance

Launched Dec 3, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
IVSS$12,077
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,169
Dec 31, 2025 to Oct 30, 2026. IVSS $12,077. SPY $11,169. Use the arrow keys to read each point.$10,000$11,000$12,000Dec 2025Jun 2026Oct 2026

Dec 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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.

Trailing total return for IVSS. Periods over one year show the average yearly return.
PeriodIVSS
Year to date+20.8%
1 month+6.6%
3 months+0.4%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for IVSS
YearReturn barIVSS
2026 YTD+20.8%
20250.0%

History from Dec 4, 2025

IVSS in the news

IVSS Dividends

Last payment
$0.02 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 24, 2025 $0.02. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.02

IVSS Risk

Risk pillarA76 out of 100Rank 6 of 44 in US Active Small/Mid-Cap
How much the fund’s monthly returns vary, scaled to a year.
Launched Dec 2025; fills in after 12 months
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.

Return above 3-month US Treasury bills per unit of volatility.
Launched Dec 2025; fills in after 12 months
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.

The largest fall from a peak to the low that followed.
Launched Dec 2025; fills in after 12 months
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.

How strongly the fund’s returns move with its asset-class index.
0.52
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

IVSS Cost

Compare IVSS and AVMC

Overpaying vs AVMC, cheapest in US Active Small/Mid-Cap

$7,886

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • IVSS 0.59%

    $11,635

  • AVMC 0.18% Cheapest

    $3,749

$10,000
30 years

Cost over time

  • IVSS 0.59%
  • AVMC 0.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530IVSS $11,635AVMC $3,749

Year by year

YearIVSSAVMCOverpaying
10$1,058$328$730
20$4,051$1,281$2,770
30$11,635$3,749$7,886

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