AFMC vs AVMC: Grades, Fees and Holdings Compared

First Trust Active Factor Mid Cap ETF

AFMCBNYSE Arca

Avantis U.S. Mid Cap Equity ETF

AVMCANYSE Arca

Overlap

19.8%by weight

Expense ratio

AVMC −0.50pt a year

AFMC0.68%AVMC0.18%

Avg volume · 30D

AFMC 1.5×the volume

AFMC38.3KAVMC25.5K

AFMC vs AVMC Performance

Oct 31, 2025 – Oct 30, 2026

+22.2%AFMC+15.2%AVMC

Expense ratio: AFMC 0.68%; AVMC 0.18%, better
Fund size: AFMC $247M; AVMC $532M
1Y total return: AFMC +22.2%, better; AVMC +15.2%
Yield (12M): AFMC 0.70%; AVMC 0.98%, better
Holdings: AFMC 268; AVMC 609
Avg volume (30D): AFMC 38.3K sh, better; AVMC 25.5K sh
NAV per share: AFMC $40.53; AVMC $78.68
52W range

ETF.net Grade

Pillar letters and Scores for AFMC, AVMC, with each pillar’s weight
Pillar	AFMC	AVMC
Cost30% weight	D36	A100Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	B68	A73Higher
Tradability15% weight	B57	A90Higher
Holdings10% weight	A77	A88Higher
Durability5% weight	A82Higher	A77

Rank among US Active Small/Mid-Cap funds

How we build Categories ›

Same Category. AFMC and AVMC are both graded against the same 47 US Active Small/Mid-Cap funds, so their Grades compare head to head.

US Active Small/Mid-Cap⁠

Category · 47 funds

See all 47 ›

AVMC ranks 1st and AFMC 17th of 47 funds in the US Active Small/Mid-Cap Category.

Rank 1AAVMCAvantis U.S. Mid Cap Equity ETFScore 89
Rank 2AFEMVFidelity Enhanced Mid Cap Value ETFScore 79
Rank 15BSMIGBahl & Gaynor Small/Mid Cap Income Growth ETFScore 56
Rank 17BAFMCFirst Trust Active Factor Mid Cap ETFScore 55
Rank 17BSMCOHilton Small-MidCap Opportunity ETFScore 55

Our read on each fund

ETF.net Research

AFMCBFirst Trust Active Factor Mid Cap ETF

AVMCAAvantis U.S. Mid Cap Equity ETF

In short

AFMC Most factor investing happens in large caps, on autopilot. AFMC blends four factors (value, quality, momentum, low volatility) across roughly 300 mid-cap stocks, actively managed with risk controls layered on top.

AVMC The forgotten middle of the US market, run the Avantis way: roughly 600 mid-cap names tilted toward cheaper stocks with stronger profits, at 0.18% a year. Systematic active management priced like an index fund.

Stated mandate

AFMC The fund seeks capital appreciation by investing at least 80% of its assets in U.S.-listed equity securities of mid-capitalization companies. It is actively managed using a multi-factor quantitative approach with active risk management.

AVMC Seeks long-term capital appreciation through a broad portfolio of U.S. mid-cap companies, emphasizing securities with lower valuations and higher profitability ratios.

Why people hold it

AFMC Four factors in one wrapper: value, quality, momentum and low volatility, blended together rather than betting the fund on one style.ftportfolios.com
Mid caps get the factor treatment large caps usually hog: at least 80% of assets go to US-listed mid-cap equities.ftportfolios.com
Roughly 300 holdings, so no single name carries the portfolio, with active risk management sitting on top of the quantitative screens.
Trading since 2019 and paying quarterly, so it has a live record through real markets, not a backtest.

AVMC 0.18% a year, against a 0.65% median for active US equity funds. Index-fund pricing on an active mandate.
Spreads the value-and-profitability tilt across roughly 600 mid-caps, so it leans on the screen rather than a handful of concentrated picks.avantisinvestors.com
One of the strongest implementations in our active US equity group, sitting with large-cap sibling AVLC and the Dimensional core funds.
Pure mid-cap exposure with a quarterly distribution, filling the gap most portfolios leave between mega-caps and small caps.

Worth knowing

AFMC At 0.68%, it runs slightly above the typical active US equity fund and well above large-cap core rivals like AVLC (0.15%) and DFAC (0.17%).
One of the more thinly traded names in its category and smaller by assets, so spreads can widen and limit orders are the standard tool.
Active and multi-factor means no index to hug: the portfolio can look quite different from a plain mid-cap benchmark in any given stretch.

AVMC Trades lighter than the giant index ETFs, which can mean wider bid-ask spreads at the moment you transact.
Launched in 2023, so the live record is short. There's no published index behind it either: outcomes come from Avantis' own valuation and profitability rules.
All mid-cap, no mega-cap ballast, plus a tilt away from expensive names. Both can put it out of step with a market led by the largest growth stocks.

Full AFMC profile⁠

Full AVMC profile⁠

AFMC vs AVMC Holdings

How AFMC and AVMC differ

Overlap by weight

19.8%

Shared holdings make up 64.6% of AFMC and 21.3% of AVMC.

Level by level

Holdings151 in both19.8%
Sector11 Sectors84.8%
Countryby domicile98.7%
Asset classEquity100%

Sector

Sector weights in AFMC and AVMC, widest gap first
Sector	More in AFMCMore in AVMC	AFMC	AVMC
Real Estate	AFMC +5.5 points	6.1%	0.6%
Utilities	AVMC +4.6 points	0.8%	5.4%
Technology	AFMC +4.5 points	20.5%	16.0%
Consumer Staples	AVMC +3.8 points	2.6%	6.4%
Consumer Discretionary	AFMC +3.8 points	14.4%	10.6%
Health Care	AVMC +2.3 points	11.0%	13.3%
Financials	AVMC +2.1 points	14.1%	16.2%
Communication	AVMC +1.5 points	1.3%	2.8%
Materials	AFMC +1.4 points	6.1%	4.7%
Industrials	AVMC +0.6 points	17.1%	17.7%
Energy	AVMC +0.3 points	6.2%	6.5%

Country, concentration and asset class

Country by domicile

Country weights in AFMC and AVMC, widest gap first
Country	More in AFMCMore in AVMC	AFMC	AVMC
India	AFMC +0.6 points	0.6%	0.0%
Other countries (10)	AVMC +0.6 points	99.4%	100.0%

Concentration

Weight in the 10 largest Holdings

AFMC12.3%
AVMC5.8%

Securities held

AFMC267
AVMC608

Asset class

AFMC: Equity
AVMC: Equity

Holdings

Only in AFMC116
In both151
Only in AVMC457

Only in AFMC

116 securities, 35.3% of AFMC by weight

Apple Hospitality REIT, Inc.1.08%
Affiliated Managers Group, Inc.0.99%
Federated Hermes, Inc. (Class B)0.99%
H&R Block, Inc.0.95%
NetScout Systems, Inc.0.83%
UGI Corporation0.77%
Crocs, Inc.0.76%
Science Applications International Corporation0.74%
Ziff Davis, Inc.0.64%
Park Hotels & Resorts Inc.0.63%
Host Hotels & Resorts, Inc.0.63%
Cathay General Bancorp0.60%
Hancock Whitney Corporation0.60%
Gaming and Leisure Properties, Inc.0.53%
EPR Properties0.52%
Dolby Laboratories, Inc.0.51%
Cirrus Logic, Inc.0.51%
UFP Industries Inc.0.49%
Teradata Corporation0.48%
Stride, Inc.0.47%
Doximity, Inc. (Class A)0.47%
Kennametal Inc.0.46%
Guardant Health, Inc.0.45%
Radian Group Inc.0.45%
MACOM Technology Solutions Holdings, Inc.0.44%
Academy Sports and Outdoors, Inc.0.42%
Axcelis Technologies, Inc.0.42%
Cardinal Health, Inc.0.41%
Macy's, Inc.0.40%
KBR, Inc.0.39%
DXC Technology Company0.38%
Everforth Incorporated0.38%
PVH Corp.0.34%
Okta, Inc.0.34%
MAXIMUS, Inc.0.33%
Glaukos Corporation0.33%
Omega Healthcare Investors, Inc.0.31%
BILL Holdings, Inc.0.31%
Bank OZK0.29%
Viavi Solutions Inc.0.29%
Lyft, Inc. (Class A)0.29%
The Gap, Inc.0.29%
Dropbox, Inc. (Class A)0.29%
Nu Skin Enterprises, Inc. (Class A)0.29%
MSG Knickerbockers Corp. (Class A)0.29%
Zebra Technologies Corporation0.29%
Boise Cascade Company0.28%
Match Group Inc.0.28%
MaxLinear, Inc.0.28%
Cabot Corporation0.28%

Only in AVMC

457 securities, 78.7% of AVMC by weight

Western Digital Corp Common Stock USD.010.67%
Devon Energy Corp Common Stock USD.10.64%
PayPal Holdings Inc Common Stock0.60%
Cheniere Energy Inc Common Stock USD.0030.60%
Humana Inc Common Stock USD.16666660.58%
Nucor Corp Common Stock USD.40.56%
Ebay Inc Common Stock USD.0010.55%
State Street Corp Common Stock USD1.00.54%
Edwards Lifesciences Corp Common Stock USD1.00.53%
Delta Air Lines Inc Common Stock USD.00010.53%
Centene Corp Common Stock USD.0010.53%
Agilent Technologies Inc Common Stock USD.010.53%
Rockwell Automation Inc Common Stock USD1.00.52%
Ameriprise Financial Inc Common Stock USD.010.52%
Fifth Third Bancorp Common Stock0.52%
Prudential Financial Inc Common Stock USD.010.52%
American International Group Common Stock USD2.50.52%
Ford Motor Co Common Stock USD.010.51%
Vistra Corp Common Stock USD.010.50%
Illumina Inc Common Stock USD.010.50%
Targa Resources Corp Common Stock USD.0010.50%
Moderna Inc Common Stock USD.00010.49%
Autodesk Inc Common Stock USD.010.49%
Becton Dickinson and Co Common Stock USD1.00.47%
United Rentals Inc Common Stock USD.010.47%
Hartford Insurance Group Inc Common Stock USD.010.46%
Carnival Corp Ltd Common Stock USD.010.46%
United Airlines Holdings Inc Common Stock USD.010.46%
Iqvia Holdings Inc Common Stock USD.010.45%
Waters Corp Common Stock USD.010.44%
Waste Connections Inc Common Stock0.44%
Occidental Petroleum Corp Common Stock USD.20.43%
Veeva Systems Inc Class A Common Stock USD.000010.43%
Block Inc Common Stock USD.00000010.42%
Chipotle Mexican Grill Inc Common Stock USD.010.42%
Strategy Inc Common Stock USD.0010.42%
Arch Capital Group Ltd Common Stock USD.010.42%
Dr Horton Inc Common Stock USD.010.42%
Sysco Corp Common Stock USD1.00.41%
Archer Daniels Midland Co Common Stock0.41%
Exelon Corp Common Stock0.41%
Garmin Ltd Common Stock CHF.10.41%
Kroger Co Common Stock USD1.00.41%
Dexcom Inc Common Stock USD.0010.41%
Biogen Inc Common Stock USD.00050.41%
Target Corp Common Stock USD.08330.40%
Keysight Technologies In Common Stock USD.010.40%
Eqt Corp Common Stock0.40%
Teradyne Inc Common Stock USD.1250.39%
Ferguson Enterprises Inc Common Stock0.39%

Weight gaps

The 100 widest of 151 Holdings in both funds.

Holding weights in AFMC and AVMC, widest gap first
Holding	More in AFMCMore in AVMC	AFMC	AVMC
Reliance Inc.RS	AFMC +1.61 points	1.85%	0.24%
HF Sinclair Corp.DINO	AFMC +1.22 points	1.46%	0.24%
Exelixis, Inc.EXEL	AFMC +1.10 points	1.31%	0.21%
Chord Energy CorporationCHRD	AFMC +1.06 points	1.16%	0.10%
Halozyme Therapeutics, Inc.HALO	AFMC +0.98 points	1.16%	0.18%
MSC Industrial Direct Co., Inc. (Class A)MSM	AFMC +0.91 points	0.93%	0.02%
Matson, Inc.MATX	AFMC +0.89 points	0.98%	0.09%
RenaissanceRe Holdings Ltd.RNR	AFMC +0.88 points	1.07%	0.19%
Mueller Industries, Inc.MLI	AFMC +0.86 points	1.00%	0.14%
APA CorporationAPA	AFMC +0.81 points	1.09%	0.28%
National Fuel Gas CompanyNFG	AFMC +0.81 points	0.88%	0.07%
Casey's General Stores, Inc.CASY	AFMC +0.80 points	1.10%	0.30%
Enact Holdings, Inc.ACT	AFMC +0.80 points	0.81%	<0.01%
BorgWarner Inc.BWA	AFMC +0.79 points	0.94%	0.15%
Abercrombie & Fitch Co. (Class A)ANF	AFMC +0.77 points	0.88%	0.11%
EnerSysENS	AFMC +0.74 points	0.80%	0.06%
BrightSpring Health Services, Inc.BTSG	AFMC +0.74 points	0.74%	<0.01%
TD SYNNEX CorporationSNX	AFMC +0.67 points	0.89%	0.22%
Popular, Inc.BPOP	AFMC +0.66 points	0.78%	0.12%
MGIC Investment CorporationMTG	AFMC +0.66 points	0.69%	0.03%
Paycom Software, Inc.PAYC	AFMC +0.64 points	0.77%	0.13%
Unum GroupUNM	AFMC +0.63 points	0.79%	0.16%
Jones Lang LaSalle IncorporatedJLL	AFMC +0.62 points	0.78%	0.16%
The Hanover Insurance Group, Inc.THG	AFMC +0.58 points	0.66%	0.08%
Genpact LimitedG	AFMC +0.58 points	0.58%	<0.01%
CF Industries Holdings, Inc.CF	AFMC +0.58 points	0.81%	0.23%
TechnipFMC PlcFTI	AFMC +0.58 points	0.93%	0.35%
Arrow Electronics, Inc.ARW	AFMC +0.55 points	0.69%	0.14%
Essent Group Ltd.ESNT	AFMC +0.55 points	0.58%	0.03%
BioMarin Pharmaceutical Inc.BMRN	AFMC +0.52 points	0.64%	0.12%
Oshkosh CorporationOSK	AFMC +0.52 points	0.62%	0.10%
Allison Transmission Holdings, Inc.ALSN	AFMC +0.51 points	0.52%	<0.01%
Dillard's, Inc. (Class A)DDS	AFMC +0.51 points	0.54%	0.03%
Coca-Cola Consolidated, Inc.COKE	AFMC +0.49 points	0.60%	0.11%
EPAM Systems, Inc.EPAM	AFMC +0.49 points	0.49%	<0.01%
The Timken CompanyTKR	AFMC +0.48 points	0.57%	0.09%
ATI Inc.ATI	AFMC +0.48 points	0.79%	0.31%
Molina Healthcare, Inc.MOH	AFMC +0.46 points	0.57%	0.11%
Victory Capital Holdings, Inc. (Class A)VCTR	AFMC +0.45 points	0.51%	0.06%
Toll Brothers, Inc.TOL	AFMC +0.44 points	0.59%	0.15%
Lear CorporationLEA	AFMC +0.45 points	0.50%	0.05%
Avnet, Inc.AVT	AFMC +0.43 points	0.51%	0.08%
nVent Electric plcNVT	AFMC +0.41 points	0.65%	0.24%
Five Below, Inc.FIVE	AFMC +0.40 points	0.57%	0.17%
United Therapeutics CorporationUTHR	AFMC +0.39 points	0.68%	0.29%
A.O. Smith CorporationAOS	AFMC +0.38 points	0.46%	0.08%
Chemed CorporationCHE	AFMC +0.38 points	0.41%	0.03%
Watts Water Technologies, Inc.WTS	AFMC +0.37 points	0.47%	0.10%
NewMarket CorporationNEU	AFMC +0.37 points	0.44%	0.07%
Prosperity Bancshares, Inc.PB	AFMC +0.37 points	0.45%	0.08%
Sensata Technologies Holding PlcST	AFMC +0.37 points	0.39%	0.02%
Moog Inc.MOG.A	AFMC +0.37 points	0.49%	0.12%
Alcoa CorporationAA	AFMC +0.36 points	0.38%	0.02%
Qualys, Inc.QLYS	AFMC +0.35 points	0.37%	0.02%
Crown Holdings, Inc.CCK	AFMC +0.35 points	0.48%	0.13%
DocuSign, Inc.DOCU	AFMC +0.34 points	0.52%	0.18%
Globe Life Inc.GL	AFMC +0.34 points	0.49%	0.15%
Tetra Tech, Inc.TTEK	AFMC +0.33 points	0.41%	0.08%
Align Technology, Inc.ALGN	AFMC +0.31 points	0.43%	0.12%
Incyte CorporationINCY	AFMC +0.29 points	0.52%	0.23%
Concentrix CorporationCNXC	AFMC +0.29 points	0.29%	0.00%
Skyworks Solutions, Inc.SWKS	AFMC +0.28 points	0.52%	0.24%
The Toro CompanyTTC	AFMC +0.29 points	0.41%	0.12%
Snap-on IncorporatedSNA	AFMC +0.25 points	0.45%	0.20%
F5, Inc.FFIV	AFMC +0.24 points	0.48%	0.24%
NetApp, Inc.NTAP	AFMC +0.24 points	0.76%	0.52%
Ryder System, Inc.R	AFMC +0.24 points	0.38%	0.14%
DaVita Inc.DVA	AFMC +0.23 points	0.28%	0.05%
Ralph Lauren CorporationRL	AFMC +0.23 points	0.40%	0.17%
SEI Investments CompanySEIC	AFMC +0.22 points	0.35%	0.13%
Central Bancompany, Inc.CBC	AFMC +0.22 points	0.28%	0.06%
PBF Energy Inc.PBF	AFMC +0.22 points	0.33%	0.11%
Acuity Inc.AYI	AFMC +0.22 points	0.33%	0.11%
First Horizon CorporationFHN	AFMC +0.21 points	0.34%	0.13%
Victoria's Secret & Co.VSXY	AFMC +0.21 points	0.33%	0.12%
Ciena CorporationCIEN	AVMC +0.21 points	0.22%	0.43%
Gartner, Inc.IT	AFMC +0.21 points	0.35%	0.14%
Viatris Inc.VTRS	AVMC +0.21 points	0.07%	0.28%
Advanced Energy Industries, Inc.AEIS	AFMC +0.21 points	0.26%	0.05%
Cullen/Frost Bankers, Inc.CFR	AFMC +0.20 points	0.31%	0.11%
Voya Financial, Inc.VOYA	AFMC +0.20 points	0.31%	0.11%
Jazz Pharmaceuticals PlcJAZZ	AFMC +0.19 points	0.36%	0.17%
10X Genomics, Inc. (Class A)TXG	AFMC +0.19 points	0.28%	0.09%
Semtech CorporationSMTC	AFMC +0.18 points	0.31%	0.13%
Applied Industrial Technologies, Inc.AIT	AFMC +0.18 points	0.31%	0.13%
Zurn Elkay Water Solutions Corp.ZWS	AFMC +0.17 points	0.25%	0.08%
AramarkARMK	AFMC +0.17 points	0.33%	0.16%
SharkNinja Inc.SN	AFMC +0.17 points	0.38%	0.21%
OGE Energy Corp.OGE	AFMC +0.16 points	0.26%	0.10%
Murphy USA Inc.MUSA	AFMC +0.16 points	0.27%	0.11%
BOK Financial CorporationBOKF	AFMC +0.15 points	0.18%	0.03%
AecomACM	AFMC +0.15 points	0.22%	0.07%
Comfort Systems USA, Inc.FIX	AFMC +0.14 points	0.54%	0.40%
Carlisle Companies IncorporatedCSL	AFMC +0.14 points	0.30%	0.16%
Owens CorningOC	AFMC +0.14 points	0.27%	0.13%
Gen Digital Inc.GEN	AVMC +0.13 points	0.05%	0.18%
IES Holdings, Inc.IESC	AFMC +0.13 points	0.18%	0.05%
Valmont Industries, Inc.VMI	AFMC +0.13 points	0.22%	0.09%
Booz Allen Hamilton Holding CorporationBAH	AFMC +0.13 points	0.23%	0.10%
Tapestry, Inc.TPR	AFMC +0.12 points	0.38%	0.26%

All 267 AFMC holdings⁠All 627 AVMC 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.

AFMC vs AVMC Cost

Overpaying AFMC vs AVMC

$9,503

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

AFMC 0.68%
$13,252
AVMC 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

AFMC 0.68%
AVMC 0.18%
Overpaying

Year by year

Year	AFMC	AVMC	Overpaying
10	$1,215	$328	$887
20	$4,633	$1,281	$3,352
30	$13,252	$3,749	$9,503

Expense ratio

0.68%AFMC
0.18%AVMC, cheaper

AVMC0.18%AFMC0.68%

0.18%1.10%

Middle half of US Active Small/Mid-Cap funds
Median 0.55%

AVMC cheapest of 47 funds

AFMC 30th cheapest of 47 funds

AFMC vs AVMC Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AFMC 0.70%; AVMC 0.98%, better
Payout (12M): AFMC $0.28; AVMC $0.77
Last payment: AFMC $0.02; AVMC $0.19
Ex-dividend: AFMC Sep 24, 2026; AVMC Sep 8, 2026
Paid on: AFMC Sep 30, 2026; AVMC Sep 10, 2026
Frequency: AFMC Quarterly; AVMC Quarterly

Distribution history

Per share, 2019 to 2026, same scale for both

AFMCQuarterly · 25 paymentsAll AFMC payments⁠

AVMCQuarterly · 12 paymentsAll AVMC payments⁠

AFMC vs AVMC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AFMC 15.6%AVMC 14.2%since Dec 2023
Return per unit of riskSharpe ratio, 3 years: AFMC 1.12AVMC 0.83since Dec 2023
Worst fallMax drawdown, 5 years: AFMC −25.4%AVMC −21.8%since Nov 2023
Market sensitivityBeta, 5 years: AFMC 0.99AVMC 0.94; Market = 1

AFMC and AVMC in the news

All news⁠

ETF Filings
Vanguard files for a U.S. small-mid cap active ETF after last year’s three reached $161 million
Sep 21, 2026AVMC

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AFMC vs AVMC

In short

Stated mandate

Why people hold it

Worth knowing

How AFMC and AVMC differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AFMC

Only in AVMC

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Vanguard files for a U.S. small-mid cap active ETF after last year’s three reached $161 million

How AFMC and AVMC differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AFMC

Only in AVMC

Weight gaps