BDVL vs CDIG

BDVLAiShares Disciplined Volatility Equity Active ETF

CDIGDCity Different Investments Global Equity ETF

In short

BDVL A global low-volatility fund with an active engine: a quant model picks roughly 500 stocks on low vol, quality and value, scored against MSCI's ACWI Minimum Volatility Index. Fee: 0.39% net of a waiver through June 30, 2028.

CDIG A go-anywhere global stock picker from a boutique shop, launched in 2025 into a cohort ruled by cheap systematic giants. Active, unconstrained, 0.75%, and still writing its first chapter.

Stated mandate

BDVL The Fund seeks risk-adjusted total return through active management of equity exposure, with a focus on managing volatility relative to the broad equity market.

CDIG The Fund seeks capital appreciation.

Why people hold it

• BDVL Costs 0.39% net of a waiver through June 30, 2028, below the median fee among global active equity peers and under sibling fund BFLX at 0.40%.
• Roughly 500 holdings worldwide, so no single stock runs the show. Its holdings build and risk profile rank among the strongest in its peer group.
• Built to hold core equity exposure while leaning toward stocks that have shown smaller price swings than the broad market.ishares.com
• Trading since 2017, a long life for an active equity ETF, and it has gathered billions from investors along the way.

• CDIG No index to hug. The mandate is capital appreciation from stocks anywhere in the world, so the manager can move across regions without a benchmark leash.
• One ticker for the whole equity map: US and non-US in a single holding instead of bolting together separate regional funds.
• Plain plumbing. A registered 1940 Act ETF with no structural flags on file, meaning a 1099 at tax time rather than a K-1.

Worth knowing

• BDVL A model, not an index, picks the names. Active discretion cuts both ways against the MSCI minimum-volatility benchmark it is measured by.
• The low-vol tilt means lighter exposure to the market's most volatile high-flyers, which shapes how it behaves when those names run.
• Cheaper active options sit in the same category: AVTM at 0.22% and AVGE at 0.23% deliver broad global equity without the volatility focus.

• CDIG The fee is 0.75%, above the median for active global equity and several times what systematic peers charge, such as GSWO at 0.15% and DFAW at 0.24%.
• It launched in September 2025, so the track record is thin. There is a prospectus to read, not years of results to weigh.
• Small and lightly traded, which usually means wider bid/ask spreads. Limit orders and steering clear of the opening and closing minutes are standard practice here.

Full BDVL profile⁠

Full CDIG profile⁠