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Launched

Applied Finance IVS International SMID ETF

IVSXNasdaqApplied FinanceD

$25.78−0.06 (−0.25%)

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

D30/ 100

Rank 49 of 56 in International Active Equity

D30/100Rank 49 of 56inInternational Active Equity
Intraday session: down, 78 prints from 25.84 to 25.78. Range 25.76 to 25.95. Use the arrow keys to read each point.25.7525.8025.9025.9510 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$5M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
257
Avg volume · 30D
559 sh
52W range
low $22.42high $26.56
Launched

The ETF.net IVSX Grade

Based on 4 of 6 pillars

D

Score 30 out of 100

Category
International Active Equity⁠
Rank
49 of 56
Six-pillar profile for IVSX. Scores out of 100: Cost 25, Risk 43, Mission not scored, Tradability 33, Holdings not scored, Durability 25. Strongest: Risk (43). Weakest: Durability (25). Based on 4 of 6 pillars.

Score 30 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
31
This cap took
0
Published Score
30 Grade D

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D25 out of 100
    Rank 42 of 56

  • 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.
    C43 out of 100
    Rank 40 of 56

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D33 out of 100
    Rank 41 of 56

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D25 out of 100
    Rank 54 of 56

Our read on IVSX

ETF.net Research

In short

DApplied Finance aims its intrinsic-value engine at a corner most international funds skim past: small and mid-cap companies listed overseas. A boutique valuation shop's process, wrapped in a 2026-launch ETF.

Stated mandate

Seeks to invest at least 80% of its net assets in equity securities of small- to mid-capitalization (SMID) companies.

Why people hold it

  • Built on Applied Finance's Economic Margin work, which values a company using a firm-specific profit horizon instead of the perpetuity assumptions baked into standard DCF math.appliedfinance.comappliedfinance.com 2
  • The mandate is specific: at least 80% of net assets in small- and mid-cap equities. You get the SMID exposure named on the tin, not quiet drift into familiar large caps.
  • Ordinary 1940 Act fund structure, the same plumbing as a mainstream index ETF, so there is no exotic wrapper to decode before you look at the holdings.

Worth knowing

  • The 0.75% fee sits above the middle of its active international peer group, and rules-based foreign small-cap options run cheaper (AVDS charges 0.30%). That is the toll for stock picking.
  • It started trading in 2026, so there is little live history behind the process in this sleeve, and risk readings rest on a short record.
  • A small asset base and light trading mean spreads can widen at the wrong moment, and funds that stay subscale are the ones issuers tend to close.

IVSX Performance

Launched Feb 19, 2026

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.Not enough history yet.
IVSX$10,223
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. IVSX $10,223. SPY $10,141. Use the arrow keys to read each point.$10,000$10,200$10,400Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – 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 IVSX. Periods over one year show the average yearly return.
PeriodIVSX
Year to dateFund launched this yearNo data
1 month+0.6%
3 months+2.2%
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 IVSX
YearReturn barIVSX
2026 YTD+1.5%

History from Feb 20, 2026

IVSX in the news

IVSX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
No dataLast 12 months
Payout per share
No dataLast 12 months

Listed Feb 2026. No distributions yet.

IVSX Risk

Risk pillarC43 out of 100Rank 40 of 56 in International Active Equity
How much the fund’s monthly returns vary, scaled to a year.
Launched Feb 2026; 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 Feb 2026; 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 Feb 2026; 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.
0.76
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.

IVSX Cost

Compare IVSX and TACN

Overpaying vs TACN, cheapest in International Active Equity

$14,482

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

  • IVSX 0.75%

    $14,482

  • TACN 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • IVSX 0.75%
  • TACN 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530IVSX $14,482TACN $0

Year by year

YearIVSXTACNOverpaying
10$1,336$0$1,336
20$5,078$0$5,078
30$14,482$0$14,482

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