---
ticker: "IVSS"
name: "Applied Finance IVS US SMID ETF"
url: "https://etf.net/etf/IVSS"
grade: "C"
score: 53
graded_at: "2026-10-12"
category: "US Active Small/Mid-Cap"
category_rank: "19 of 48"
methodology: "https://etf.net/methodology"
---

# IVSS: Applied Finance IVS US SMID ETF

Grade **C**, Score 53 of 100. Rank 19 of 48 in US Active Small/Mid-Cap.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 48 | 25 of 48 |
| Mission | Not scored | — |
| Risk | 78 | 4 of 44 |
| Tradability | 30 | 42 of 48 |
| Holdings | 73 | 13 of 48 |
| Durability | 42 | 35 of 48 |

## Top holdings

The fund holds 358 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | DAVE | Dave Inc. | 1.79% |
| 2 | IDCC | Interdigital Inc | 1.70% |
| 3 | INDV | Indivior Pharmaceuticals Inc | 1.58% |
| 4 | HQY | Healthequity Inc | 1.57% |
| 5 | PJT | Pjt Partners Inc - A | 1.46% |
| 6 | OTTR | Otter Tail Corp | 1.38% |
| 7 | SWX | Southwest Gas Holdings Inc Common Stock USD 1 | 1.31% |
| 8 | SEZL | Sezzle Inc. | 1.29% |
| 9 | MCY | Mercury General Corp | 1.20% |
| 10 | TNET | Trinet Group Inc | 1.18% |
| 11 | BTSG | Brightspring Hlth Services Inc | 1.15% |
| 12 | SM | Sm Energy Co | 1.12% |
| 13 | LNTH | Lantheus Holdings Inc | 1.09% |
| 14 | FTDR | Frontdoor Inc | 1.05% |
| 15 | ACIW | Aci Worldwide Inc | 1.01% |
| 16 | DLO | Dlocal Ltd Class A | 1.01% |
| 17 | SKT | Tanger Factory Outlet Centers Inc. | 1.00% |
| 18 | AMRX | Amneal Pharmaceuticals Inc Common Stock USD 0.01 | 0.92% |
| 19 | KNTK | Kinetik Holdings Inc | 0.92% |
| 20 | OPCH | Option Care Health Inc | 0.88% |
| 21 | — | Perimeter Solutions SA | 0.86% |
| 22 | MATX | Matson Inc | 0.86% |
| 23 | MMS | Maximus Inc | 0.84% |
| 24 | — | Marex Group PLC | 0.80% |
| 25 | PACS | PACS Group Inc. | 0.80% |
| 26 | HURN | Huron Consulting Group Inc | 0.79% |
| 27 | STNG | Scorpio Tankers Inc Common Stock | 0.78% |
| 28 | ATMU | Atmus Filtration Technologie Common Stock | 0.77% |
| 29 | STGW | Stagwell Inc | 0.75% |
| 30 | JXN | Jackson Financial Inc Common Stock USD | 0.72% |

Source: etf.net, https://etf.net/etf/IVSS. Please cite the page URL.