AESR vs DYNF: Grades, Fees and Holdings Compared

Anfield U.S. Equity Sector Rotation ETF

AESRDCboe

iShares U.S. Equity Factor Rotation Active ETF

DYNFANYSE Arca

Overlap

1.1%by weight

Expense ratio

DYNF −0.71pt a year

AESR0.97%DYNF0.26%

Avg volume · 30D

DYNF 60.7×the volume

AESR37.2KDYNF2.25M

5Y return · a year

DYNF +2.1pt

AESR+11.7%DYNF+13.8%

AESR vs DYNF Performance

Oct 29, 2021 – Oct 30, 2026

+73.7%AESR+90.9%DYNF

Expense ratio: AESR 0.97%; DYNF 0.26%, better
Fund size: AESR $246M; DYNF $41.8B
1Y total return: AESR +11.4%; DYNF +11.6%, better
Yield (12M): AESR 20.49%, better; DYNF 0.84%
Holdings: AESR 33; DYNF 264
Avg volume (30D): AESR 37.2K sh; DYNF 2.25M sh, better
NAV per share: AESR $19.05; DYNF $67.32
52W range

ETF.net Grade

Pillar letters and Scores for AESR, DYNF, with each pillar’s weight
Pillar	AESR	DYNF
Cost30% weight	F16	A86Higher
Mission25% weight	C48	Not scored
Risk15% weight	D39	A71Higher
Tradability15% weight	C47	A99Higher
Holdings10% weight	D36	B65Higher
Durability5% weight	A77	A97Higher

Rank among US Active Equity funds

How we build Categories ›

Same Category. AESR and DYNF are both graded against the same 121 US Active Equity funds, so their Grades compare head to head.

US Active Equity⁠

Category · 121 funds

See all 121 ›

DYNF ranks 4th and AESR 98th of 121 funds in the US Active Equity Category.

Rank 1AAVLCAvantis U.S. Large Cap Equity ETFScore 87
Rank 2ADFAUDimensional US Core Equity Market ETFScore 86
Rank 3ADFACDimensional US Core Equity 2 ETFScore 85
Rank 4ADYNFiShares U.S. Equity Factor Rotation Active ETFScore 83
Rank 4AFELCFidelity Enhanced Large Cap Core ETFScore 83
Rank 97DFFOXFundX Future Fund Opportunities ETFScore 34
Rank 98DAESRAnfield U.S. Equity Sector Rotation ETFScore 33
Rank 98DKONGFormidable Fortress ETFScore 33

Our read on each fund

ETF.net Research

AESRDAnfield U.S. Equity Sector Rotation ETF

DYNFAiShares U.S. Equity Factor Rotation Active ETF

In short

AESR A macro call in ETF form: AESR ranks the S&P 500's 11 sectors, then holds eight to ten sector funds in whatever mix its outlook favors. No index leash, quarterly resets, and a bill that reflects the hands-on work.

DYNF Most factor funds make you pick a lane: value, momentum, quality. DYNF rotates across five styles instead, letting a factor model decide which one leads, and charges an index-fund-ish 0.26% to do it.

Stated mandate

AESR The Fund seeks capital appreciation. It is actively managed, invests in U.S. equity securities directly or through underlying ETFs, and uses macroeconomic analysis to adjust exposure among equity-market sectors.

DYNF The Fund seeks to outperform the U.S. equity market through diversified, tactical exposure to style factors using a factor rotation model.

Why people hold it

AESR The job is specific: rank the 11 S&P 500 sectors by macro outlook, then hold eight to ten sector ETFs in that order. Rebalanced quarterly, or sooner if conditions shift.cboe.com
Its prospectus says it is not managed relative to an index, so sector weights can sit far from a cap-weighted 500. That freedom to look different is the whole design.sec.gov cboe.com
Trading since December 2019, it has a multi-year record across real market cycles and moderate volume for a fund of its size.

DYNF Five style factors in one ticket (value, quality, momentum, growth, low volatility), reweighted by a rotation model rather than locked to a single tilt.
0.26% is well under half the median fee in its active US equity peer group, which is unusual pricing for a strategy with a human-supervised model behind it.
A multi-billion-dollar fund and one of the more actively traded names in its category, so getting in and out rarely becomes the hard part. Pays quarterly.
Running since 2019 under one of the biggest ETF shops, and it stands among the strongest overall implementations in the active US equity group we track.

Worth knowing

AESR It runs 0.97% a year, above the roughly 0.70% median for active US equity funds and multiples of core options like DFAU (0.12%) or DYNF (0.26%).
Mostly a holder of other ETFs, so those underlying funds carry their own expenses, which ride along inside your return on top of the sector calls.regentsparkfunds.com cboe.com
Results hinge on the macro ranking being right. A wrong read on which sectors lead can push returns away from a plain 500 fund in either direction.cboe.com

DYNF The yardstick isn't the S&P 500: it's a custom blend of 80% MSCI USA and 20% MSCI USA Minimum Volatility, so a low-vol tilt is baked into the benchmark itself.
Active by design. The factor mix shifts, the book runs to a couple hundred stocks, and a rotation call can leave it out of step with a plain US market index fund.
Cheap for active, not the cheapest shelf: systematic peers DFAU (0.12%), AVLC (0.15%), DFAC (0.17%) and FELC (0.18%) all undercut it on fee.

Full AESR profile⁠

Full DYNF profile⁠

AESR vs DYNF Holdings

How AESR and DYNF differ

Overlap by weight

1.1%

Shared holdings make up 8.8% of AESR and 1.1% of DYNF.

Level by level

Holdings12 in both1.1%
Sector11 Sectors84.9%
Countryby domicile96.8%
Asset classEquity100%

Sector

Sector weights in AESR and DYNF, widest gap first
Sector	More in AESRMore in DYNF	AESR	DYNF
Industrials	AESR +5.3 points	13.3%	8.0%
Health Care	AESR +4.8 points	12.5%	7.7%
Communication	DYNF +4.1 points	5.5%	9.6%
Energy	DYNF +4.0 points	1.3%	5.3%
Financials	AESR +3.9 points	19.3%	15.4%
Technology	DYNF +3.2 points	36.7%	39.9%
Real Estate	DYNF +1.7 points	0.3%	2.0%
Utilities	DYNF +1.5 points	0.3%	1.8%
Consumer Staples	AESR +1.0 points	3.2%	2.2%
Consumer Discretionary	DYNF +0.5 points	6.5%	7.0%
Materials	AESR +0.1 points	1.0%	0.9%

Country, concentration and asset class

Country by domicile

Country weights in AESR and DYNF, widest gap first
Country	More in AESRMore in DYNF	AESR	DYNF
United States	DYNF +3.2 points	96.8%	100.0%
Taiwan	AESR +0.9 points	0.9%	0.0%
United Kingdom	AESR +0.7 points	0.7%	0.0%
Canada	AESR +0.6 points	0.6%	0.0%
Other countries (9)	AESR +1.1 points	1.1%	0.0%

Concentration

Weight in the 10 largest Holdings

AESR83.0%
DYNF40.4%

Securities held

AESR33
DYNF262

Asset class

AESR: Equity
DYNF: Equity

Holdings

Only in AESR21
In both12
Only in DYNF250

Only in AESR

21 securities, 91.3% of AESR by weight

State Street SPDR S&P 500 ETF Trust15.34%
ARK Next Generation Technology ETF12.26%
iShares Expanded Tech-Software Sector ETF11.39%
iShares Semiconductor ETF11.34%
State Street Communication Services Select Sector SPDR ETF9.23%
iShares U.S. Pharmaceuticals ETF8.54%
iShares U.S. Financial Services ETF4.96%
Global X MLP ETF4.50%
Vanguard Consumer Discretionary ETF3.52%
iShares U.S. Medical Devices ETF1.87%
State Street Consumer Discretionary Select Sector SPDR ETF1.56%
Royalty Pharma PLC0.94%
Targa Resources Corp0.86%
Target Corp0.80%
Organon & Co0.79%
Littelfuse Inc0.72%
Quanta Services Inc0.70%
MSG Knickerbockers Corp0.61%
nVent Electric PLC0.60%
First American Government Obligations Fund 12/01/20310.52%
MSG Rangers Corp0.21%

Only in DYNF

250 securities, 98.6% of DYNF by weight

Apple8.27%
NVIDIA7.83%
Microsoft4.78%
Amazon.com Inc4.00%
JPMorgan Chase & Co3.39%
Exxonmobil Holdings Corp3.18%
Broadcom Inc2.40%
Meta Platforms Class A2.37%
Bank of America2.13%
Alphabet Class A2.07%
Johnson & Johnson2.04%
Tesla Inc1.72%
Chevron1.71%
Alphabet Class C1.71%
Micron Technology1.70%
Travelers Companies1.60%
Salesforce1.57%
Cisco Systems Inc1.54%
Advanced Micro Devices1.54%
Eli Lilly1.52%
Citigroup1.35%
Caterpillar Inc1.31%
Parker-Hannifin1.28%
Lam Research1.26%
Walmart1.14%
Allstate Corp1.14%
Rtx1.12%
Duke Energy Corp1.07%
Berkshire Hathaway Inc Class B1.06%
Applied Material Inc1.05%
Goldman Sachs Group1.05%
Welltower0.92%
Verizon Communications Inc0.75%
Realty Income Reit0.73%
Palantir Technologies Class A0.73%
Netflix0.71%
Cme Group Class A0.71%
Amphenol Corp Class A0.70%
Thermo Fisher Scientific0.66%
AT&T0.64%
American International Group0.62%
Newmont0.62%
Space Exploration Technologies Cor0.58%
Hartford Insurance Group0.57%
Deere0.55%
Gilead Sciences0.54%
Trane Technologies PLC0.51%
Ge Vernova0.51%
Nextera Energy0.51%
AbbVie0.49%

Weight gaps

All 12 Holdings in both funds, largest gap first.

Holding weights in AESR and DYNF, widest gap first
Holding	More in AESRMore in DYNF	AESR	DYNF
Ross Stores IncROST	AESR +0.80 points	0.80%	<0.01%
CSX CorpCSX	AESR +0.78 points	0.87%	0.09%
Marathon Petroleum CorpMPC	AESR +0.77 points	0.77%	0.00%
HF Sinclair CorpDINO	AESR +0.76 points	0.76%	0.00%
Revolution Medicines IncRVMD	AESR +0.74 points	0.78%	0.04%
Darling Ingredients IncDAR	AESR +0.72 points	0.72%	0.00%
Millicom International Cellular SATIGO	AESR +0.70 points	0.70%	0.00%
Keysight Technologies IncKEYS	AESR +0.61 points	0.64%	0.03%
Phillips 66PSX	AESR +0.58 points	0.81%	0.23%
Hewlett Packard Enterprise CoHPE	AESR +0.54 points	0.61%	0.07%
Dell Technologies IncDELL	AESR +0.39 points	0.58%	0.19%
Valero Energy CorpVLO	AESR +0.25 points	0.72%	0.47%

All AESR holdings⁠All 262 DYNF holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AESR vs DYNF Cost

Overpaying AESR vs DYNF

$12,840

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

AESR 0.97%
$18,198
DYNF 0.26%
$5,358

Amount$10,000

Years30 years

Cost over time

AESR 0.97%
DYNF 0.26%
Overpaying

Year by year

Year	AESR	DYNF	Overpaying
10	$1,712	$473	$1,239
20	$6,443	$1,838	$4,605
30	$18,198	$5,358	$12,840

Expense ratio

0.97%AESR
0.26%DYNF, cheaper

DYNF0.26%AESR0.97%

0.00%2.89%

Middle half of US Active Equity funds
Median 0.68%

DYNF 18th cheapest of 121 funds

AESR 102nd cheapest of 121 funds

AESR vs DYNF Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AESR 20.49%, better; DYNF 0.84%
Payout (12M): AESR $3.90; DYNF $0.56
Last payment: AESR $3.90; DYNF $0.14
Ex-dividend: AESR Dec 12, 2025; DYNF Sep 15, 2026
Paid on: AESR Dec 15, 2025; DYNF Sep 18, 2026
Frequency: AESR Twice a year; DYNF Quarterly

Distribution history

Per share, 2019 to 2026, same scale for both

AESRTwice a year · 13 paymentsAll AESR payments⁠

DYNFQuarterly · 30 paymentsAll DYNF payments⁠

AESR vs DYNF Risk

Fall from peak · 5 years

AESR
DYNF

Risk facts

VolatilityStd dev, 3 years: AESR 15.7%DYNF 13.1%, better
Return per unit of riskSharpe ratio, 3 years: AESR 1.28DYNF 1.55, better
Worst fallMax drawdown, 5 years: AESR −25.0%, betterDYNF −26.9%
Market sensitivityBeta, 5 years: AESR 1.17DYNF 1.02; Market = 1

AESR and DYNF in the news

All news⁠

ETF Filings
BlackRock files two Form 497Ks for iShares DYNF
Sep 7, 2026DYNF

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AESR vs DYNF

In short

Stated mandate

Why people hold it

Worth knowing

How AESR and DYNF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AESR

Only in DYNF

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

BlackRock files two Form 497Ks for iShares DYNF

How AESR and DYNF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AESR

Only in DYNF

Weight gaps