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VSLU

GradeCNew York Stock Exchange Arca

Applied Finance Valuation Large Cap ETF

Active Equity · Applied Finance · Inception 2021-04-29 · SEC filings

$48.80−0.37 (−0.74%)

As of Sep 23, 2026, 2:20 PM EDT

Intraday session: down, 58 prints from 49.17 to 48.80. Range 48.70 to 49.14. Use the arrow keys to read each point.$48.70$48.90$49.00$49.1010 AM12 PM2 PM4 PM
Expense ratio
0.49%
Fund size
$563M
1Y return
+14.8%
Yield · Last 12 months
0.42%
Volume · 30D
0M sh
NAV per share
$48.53
52W range
low $39.80high $49.46

The ETF.net VSLU Grade

C

53/ 100

Rank 5 of 8 in US Active Contrarian Value

Confidence Medium

Six-pillar profile for VSLU. Scores out of 100: Cost 58, Risk 48, Mission 73, Tradability 59, Holdings 38, Durability 56. Strongest: Mission (73). Weakest: Holdings (38). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 53 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 58
    Category rank4/8 · top 50%
  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 73
    Category rank1/1 · bottom quartile
  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 48
    Category rank6/8 · bottom quartile
  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 59
    Category rank4/8 · top 50%
  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 38
    Category rank6/7 · bottom quartile
  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 56
    Category rank5/8 · mid-pack

Graded as of Sep 22, 2026

Our read on VSLU

ETF.net Research

CApplied Finance has been estimating what companies are actually worth since 1995. VSLU runs that engine on US large caps: own the ones trading below its intrinsic-value estimate, for less than the typical active fund charges.

Stated mandate

The Fund’s stated objective is long-term capital appreciation.

Why people hold it

  1. 01Charges 0.49% a year, below the 0.65% median for active US equity funds. Cheap fuel for an active strategy.
  2. 02The engine is Applied Finance's Economic Margin framework, which strips accounting distortions to measure what a firm earns above or below its cost of capital.appliedfinance.comappliedfinance.com
  3. 03Stock-picking with a leash: an active mandate for long-term capital appreciation, measured against the Morningstar US Large-Mid Cap Index.
  4. 04Running since 2021 and one of the stronger overall showings in our active US equity group.

Worth knowing

  1. 01Thinly traded compared with the category's giants, so bid-ask spreads can be wider, especially in fast markets.
  2. 02Cheap for active, not cheap outright: systematic peers like DFAU (0.12%) and AVLC (0.15%) charge roughly a third as much.
  3. 03A value discipline means the portfolio can look very different from a cap-weighted index, and its results can diverge for long stretches.

VSLU Holdings

As of Sep 20, 2026, 8:42 AM
Asset class
Stocks
Holdings
Top-10 weight
53%
Largest holding
NVDA10.6%

Sectors

  • Technology38.8%
  • Health Care12.7%
  • Communication12.3%
  • Consumer Discr.10.3%
  • Financials9.8%
  • Industrials6.7%
  • Cons. Staples4.2%
  • Energy2.3%
  • Materials1.1%
  • Utilities1.0%
  • Real Estate0.8%

Geography

  • United States97.85%
  • Ireland1.42%
  • Switzerland0.28%
  • United Kingdom0.11%
  • Bermuda0.10%
  • Canada0.09%
  • Sweden0.07%
  • Australia0.04%
  • Other countries (2)0.04%
The fund’s holdings, weight-ordered — page 1 of 31.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001NVDANVIDIA CORP10.63%272,990$60M828
002AAPLAPPLE INC10.35%173,081$58M707
003MSFTMICROSOFT CORP7.80%88,289$44M792
004GOOGLALPHABET INC-CL A6.91%112,117$39M704
005METAMETA PLATFORMS INC4.45%36,764$25M683
006LLYELI LILLY & CO3.38%16,521$19M569
007VVISA INC-CLASS A SHARES3.06%46,588$17M550
008AVGOBroadcom Inc.2.50%40,581$14M732
009MAMASTERCARD INC - A2.25%22,437$13M512
010MRKMERCK & CO. INC.1.39%53,105$8M506
011JNJJOHNSON & JOHNSON1.28%26,627$7M521
012ABBVABBVIE INC1.22%25,991$7M511
013BKNGBOOKING HOLDINGS INC1.16%38,328$7M432
014DELLDELL TECHNOLOGIES - CLASS C0.99%9,501$6M427
015PMPHILIP MORRIS INTERNATIONAL0.97%28,549$5M412

Showing 1–15 of 458 holdings

VSLU Performance

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

VSLU$11,483
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. VSLU $11,483. SPY $11,723. Use the arrow keys to read each point.$9,326$10,634$11,942Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 VSLU. Periods over one year show the average yearly return.
PeriodVSLU
Year to date+11.0%
1 month+0.8%
3 months+7.6%
1 year+14.8%
3 years+22.8%per year
5 years+13.9%per year
10 yearsFund is under 10 years oldper year

As of the close, 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 VSLU
YearReturn barVSLU
2026 YTD+11.0%
2025+21.5%
2024+23.8%
2023+26.8%
2022−16.1%
2021+14.1%

History from Apr 30, 2021

VSLU in the news

ETF.net Research hasn’t filed on VSLU yet — coverage lands here as it’s written.

VSLU 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 Sep 22, 2026.
0.42%Last 12 months
Payout per share
$0.20Last 12 months
Last payment
$0.20 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2021–2026

One bar per payment. 5 payments from 2021 to 2026 YTD. Dec 27, 2021 $0.16; Dec 27, 2022 $0.23; Dec 26, 2023 $0.18; Dec 24, 2024 $0.22; Dec 24, 2025 $0.20. Use the arrow keys to read each point.202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.20
Dec 24, 2024Dec 26, 2024$0.22
Dec 26, 2023Dec 28, 2023$0.18
Dec 27, 2022Dec 29, 2022$0.23
Dec 27, 2021Dec 29, 2021$0.16

VSLU Risk

How much the fund’s monthly returns vary, scaled to a year.
12.3%
Annualised · 36 months to Aug 2026
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.
1.25
vs 3-month T-bills · to Aug 2026
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.
−23.9%
Trough Sep 2022
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.
0.95
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.

VSLU Cost

Expense ratio0.49%
  • The middle half of US Active Contrarian Value funds
  • Median 0.54%

3 of the 8 US Active Contrarian Value funds charge less.

VSLU costs $49.00 a year on $10,000. The median US Active Contrarian Value fund costs $54.50.