BDVL vs KNOW

BDVLAiShares Disciplined Volatility Equity Active ETF

KNOWDFundamentals First 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.

KNOW Mason Capital ran this strategy in private funds for decades before wrapping it in an ETF: roughly 100 global businesses plus a bond sleeve, no single position over 5% at purchase. The fee is 1.10%, above the category norm.

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.

KNOW The Fund seeks income and capital growth.

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.

• KNOW A 5% cap per holding, measured at purchase, and the fund sells down anything that drifts above it. One company's bad news can dent this portfolio, not define it.sec.gov
• One ticket covers both sides of a portfolio: 65% to 90% in stocks, 10% to 35% in bonds, US and non-US, any market cap, ADRs for foreign names. Distributions come quarterly.sec.gov
• Long-only, low-turnover, buy-and-hold by design. Names come from company filings, industry data and management interviews rather than an index screen.cboe.comsec.gov
• About 100 holdings, so every pick has to earn its slot. No index to hug and no derivatives sleeve, just listed stocks and bonds.sec.gov

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.

• KNOW At 1.10% with no waiver, the fee sits above the category median (42 funds priced). Broad global-equity rivals AVTM (0.22%) and AVGE (0.23%) charge a fraction of it.
• A small fund that trades thinly, so spreads can run wide and size can move the price. Limit orders and patience matter more here than with a mega-cap index fund.
• Outcomes ride on one team's judgment: no benchmark to track, and the bond sleeve may hold any maturity or credit quality the managers pick.sec.gov

Full BDVL profile⁠

Full KNOW profile⁠