BDVL vs RFFC: Grades, Fees and Holdings Compared

iShares Disciplined Volatility Equity Active ETF

BDVLANasdaq

ALPS Active Equity Opportunity ETF

RFFCBNYSE Arca

Overlap

20.4%by weight

Expense ratio

BDVL −0.09pt a year

BDVL0.39%RFFC0.48%

Avg volume · 30D

BDVL 223.2×the volume

BDVL236KRFFC1.06K

BDVL vs RFFC Performance

Oct 31, 2025 – Nov 2, 2026

+9.7%BDVL+15.0%RFFC

Expense ratio: BDVL 0.39%, better; RFFC 0.48%
Fund size: BDVL $1.77B; RFFC $30M
1Y total return: BDVL +9.7%; RFFC +15.0%, better
Yield (12M): BDVL No data; RFFC 0.64%
Holdings: BDVL 423; RFFC 59
Avg volume (30D): BDVL 236K sh, better; RFFC 1.06K sh
NAV per share: BDVL $26.44; RFFC $75.90
52W range

ETF.net Grade

Pillar letters and Scores for BDVL, RFFC, with each pillar’s weight
Pillar	BDVL	RFFC
Cost30% weight	A79Higher	B67
Mission25% weight	Not scored	Not scored
Risk15% weight	A80Higher	B68
Tradability15% weight	B68Higher	C53
Holdings10% weight	A89Higher	B67
Durability5% weight	A93Higher	B57

Rank among Global Active Equity funds

How we build Categories ›

Same Category. BDVL and RFFC are both graded against the same 44 Global Active Equity funds, so their Grades compare head to head.

Global Active Equity⁠

Category · 44 funds

See all 44 ›

BDVL ranks 1st and RFFC 12th of 44 funds in the Global Active Equity Category.

Rank 1AAVGEAvantis All Equity Markets ETFScore 79
Rank 1AAVTMAvantis Total Equity Markets ETF 1Score 79
Rank 1ABDVLiShares Disciplined Volatility Equity Active ETFScore 79
Rank 1ADFAWDimensional World Equity ETFScore 79
Rank 12BJGLOJPMorgan Global Select Equity ETFScore 64
Rank 12BRFFCALPS Active Equity Opportunity ETFScore 64
Rank 14BRGEFRockefeller Global Equity ETFScore 60

Our read on each fund

ETF.net Research

BDVLAiShares Disciplined Volatility Equity Active ETF

RFFCBALPS Active Equity Opportunity 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.

RFFC Most active equity funds ask you to trust a stock picker. RFFC leans on one hard number instead: return on invested capital, applied to an S&P Composite 1500 opportunity set, at a fee below most of its active peers.

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.

RFFC RFFC is designed to pursue 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.

RFFC Stock picking with a stated rule behind it: holdings are selected on return on invested capital, a profitability measure rather than a narrative.alpsfunds.com
0.48% a year sits below the typical fee in its active global equity peer group, unusual for a fundamentals-first, hand-picked portfolio.
Live since 2016, so the approach has traded through real market cycles instead of arriving with a theme.
Measured against the S&P Composite 1500, a benchmark that reaches past mega caps into mid and small companies. Pays quarterly.

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.

RFFC A small fund that trades thinly. Spreads can run wider than in giant index products, and sizable orders can move the price.
Active by design: the manager's ROIC calls drive the outcome, and the portfolio can diverge from its S&P Composite 1500 benchmark for long stretches.
Cheaper shelf-mates exist in the same peer group, with GSWO at 0.15% and AVGE at 0.25% running rules-based rather than hand-picked.

Full BDVL profile⁠

Full RFFC profile⁠

BDVL vs RFFC Holdings

How BDVL and RFFC differ

Overlap by weight

20.4%

Shared holdings make up 55.8% of RFFC and 20.6% of BDVL.

Level by level

Holdings30 in both20.4%
Countryby domicile74.5%
Sector11 Sectors87.8%
Asset classEquity100%

Sector

Sector weights in BDVL and RFFC, widest gap first
Sector	More in BDVLMore in RFFC	BDVL	RFFC
Consumer Discretionary	RFFC +4.4 points	4.6%	9.0%
Industrials	BDVL +4.3 points	15.3%	11.0%
Financials	BDVL +3.7 points	15.4%	11.7%
Technology	RFFC +3.2 points	28.6%	31.8%
Consumer Staples	BDVL +2.4 points	6.4%	4.0%
Utilities	BDVL +1.7 points	4.5%	2.8%
Materials	RFFC +1.5 points	0.4%	1.9%
Real Estate	RFFC +1.2 points	0.0%	1.2%
Energy	RFFC +0.9 points	4.1%	5.0%
Health Care	RFFC +0.7 points	13.6%	14.3%
Communication	RFFC +0.3 points	7.0%	7.3%

Country, concentration and asset class

Country by domicile

Country weights in BDVL and RFFC, widest gap first
Country	More in BDVLMore in RFFC	BDVL	RFFC
United States	RFFC +23.2 points	69.5%	92.7%
Japan	BDVL +8.1 points	8.1%	0.0%
China	BDVL +5.4 points	5.4%	0.0%
India	BDVL +2.8 points	2.8%	0.0%
Germany	BDVL +2.8 points	2.8%	0.0%
Netherlands	BDVL +2.6 points	2.6%	0.0%
Taiwan	RFFC +1.7 points	3.5%	5.2%
Switzerland	BDVL +1.5 points	2.2%	0.7%
Other countries (3)	BDVL +1.7 points	3.1%	1.4%

Outside the US: BDVL 62% developed, 38% emerging.

Concentration

Weight in the 10 largest Holdings

BDVL17.0%
RFFC40.1%

Securities held

BDVL401
RFFC58

Asset class

BDVL: Equity
RFFC: Equity

Holdings

Only in BDVL371
In both30
Only in RFFC28

Only in BDVL

371 securities, 95.3% of BDVL by weight

Asml Holding1.95%
Progressive1.17%
Taiwan Semiconductor Manufacturing1.11%
Southern1.07%
Airbus Group1.02%
Howmet Aerospace1.02%
Visa Class A1.00%
Alphabet Class C0.98%
Deutsche Telekom N AG0.93%
Broadcom Inc0.92%
Salesforce0.90%
Keysight Technologies0.87%
Travelers Companies0.86%
Republic Services Inc0.86%
Bank of China Ltd H0.78%
Novartis AG0.77%
Autodesk0.77%
Vertiv Holdings Class A0.73%
Northrop Grumman Corp0.72%
Cencora0.70%
Rolls-Royce Holdings PLC0.69%
Steris0.67%
Elevance Health Inc0.66%
Honeywell International Inc0.66%
Otsuka Corp0.64%
Occidental Petroleum Corp0.64%
Rwe AG0.62%
Exxonmobil Holdings Corp0.62%
Msci0.62%
Procter & Gamble0.61%
Verisign0.61%
Teledyne Technologies0.61%
Kroger0.61%
Workday Class A0.60%
Chubb0.58%
Softbank0.58%
Dollar General Corp0.58%
Monster Beverage0.57%
Roper Technologies0.56%
Cisco Systems Inc0.55%
Cadence Design Systems0.55%
Chevron0.55%
Advanced Micro Devices0.54%
Royal Bank of Canada0.54%
Fiserv Inc0.53%
Roche Ps Par AG0.52%
Cboe Global Markets0.52%
Wesco International0.52%
Mckesson Corp0.52%
Arch Capital Group0.50%

Only in RFFC

28 securities, 42.3% of RFFC by weight

Taiwan Semiconductor Manufacturing Co. Ltd.4.89%
Alphabet Inc.3.89%
JPMorgan Chase & Co.2.39%
Snowflake Inc.2.37%
Eli Lilly & Co.2.31%
Amphenol Corp.2.13%
RTX Corp.2.06%
American Express Co.1.82%
Caterpillar Inc.1.69%
Deere & Co.1.50%
Thermo Fisher Scientific Inc.1.50%
Lowe's Cos. Inc.1.35%
Alliant Energy Corp.1.25%
Welltower Inc.1.22%
Intercontinental Exchange Inc.1.21%
Phillips 661.12%
Baker Hughes Co.1.07%
IQVIA Holdings Inc.1.07%
RenaissanceRe Holdings Ltd.1.04%
Wells Fargo & Co.0.97%
McDonald's Corp.0.90%
HCA Healthcare Inc.0.83%
Schneider Electric SE0.77%
Freeport-McMoRan Inc.0.77%
ABB Ltd.0.69%
Synopsys Inc.0.69%
Enbridge Inc.0.55%
NRG Energy Inc.0.26%

Weight gaps

All 30 Holdings in both funds, largest gap first.

Holding weights in BDVL and RFFC, widest gap first
Holding	More in BDVLMore in RFFC	BDVL	RFFC
AppleAAPL	RFFC +5.29 points	0.40%	5.69%
NVIDIANVDA	RFFC +4.33 points	0.68%	5.01%
MicrosoftMSFT	RFFC +4.30 points	1.73%	6.03%
Johnson & JohnsonJNJ	RFFC +3.51 points	0.55%	4.06%
Amazon.com IncAMZN	RFFC +2.11 points	1.33%	3.44%
ConocophillipsCOP	RFFC +2.00 points	0.38%	2.38%
Goldman Sachs GroupGS	RFFC +1.43 points	0.33%	1.76%
WalmartWMT	RFFC +1.36 points	0.43%	1.79%
Meta Platforms Class AMETA	RFFC +1.23 points	0.80%	2.03%
Lam ResearchLRCX	RFFC +0.96 points	0.60%	1.56%
Linde PLCLIN	RFFC +0.90 points	0.23%	1.13%
UnitedHealth GroupUNH	RFFC +0.88 points	0.45%	1.33%
Old Dominion Freight LineODFL	RFFC +0.87 points	0.32%	1.19%
Marriott International Class AMAR	RFFC +0.79 points	0.37%	1.16%
TjxTJX	RFFC +0.72 points	0.30%	1.02%
Gilead SciencesGILD	RFFC +0.68 points	0.74%	1.43%
Waste Management IncWM	RFFC +0.63 points	0.80%	1.43%
Merck & Co IncMRK	RFFC +0.61 points	0.38%	0.99%
Oreilly Automotive IncORLY	RFFC +0.58 points	0.43%	1.01%
Duke Energy CorpDUK	RFFC +0.47 points	0.86%	1.33%
Vertex PharmaceuticalsVRTX	RFFC +0.43 points	0.76%	1.19%
S&P GlobalSPGI	RFFC +0.33 points	0.69%	1.02%
Motorola Solutions IncMSI	RFFC +0.32 points	0.79%	1.11%
Walt DisneyDIS	RFFC +0.31 points	0.44%	0.75%
Mastercard Class AMA	BDVL +0.25 points	1.88%	1.63%
Coca-ColaKO	RFFC +0.23 points	1.10%	1.33%
Costco Wholesale CorpCOST	RFFC +0.15 points	0.80%	0.95%
United Parcel Service Inc Class BUPS	RFFC +0.03 points	0.73%	0.76%
Trane Technologies PLCTT	BDVL +0.02 points	0.66%	0.64%
Intel CorporationINTC	RFFC +0.01 points	0.69%	0.70%

All 514 BDVL holdings⁠All RFFC 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.

BDVL vs RFFC Cost

Overpaying RFFC vs BDVL

$1,707

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

BDVL 0.39%
$7,898
RFFC 0.48%
$9,605

Amount$10,000

Years30 years

Cost over time

BDVL 0.39%
RFFC 0.48%
Overpaying

Year by year

Year	BDVL	RFFC	Overpaying
10	$705	$865	$160
20	$2,725	$3,328	$603
30	$7,898	$9,605	$1,707

Expense ratio

0.39%BDVL, cheaper
0.48%RFFC

BDVL0.39%RFFC0.48%

0.22%1.19%

Middle half of Global Active Equity funds
Median 0.69%

BDVL 9th cheapest of 44 funds

RFFC 15th cheapest of 44 funds

BDVL vs RFFC Dividends

Last 12 months to Nov 2, 2026

Yield (12M): BDVL No data; RFFC 0.64%
Payout (12M): BDVL No data; RFFC $0.48
Last payment: BDVL $0.22; RFFC $0.13
Ex-dividend: BDVL Jun 15, 2026; RFFC Sep 17, 2026
Paid on: BDVL Jun 18, 2026; RFFC Sep 22, 2026
Frequency: BDVL Twice a year; RFFC Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

BDVLTwice a year · 2 paymentsAll BDVL payments⁠

RFFCQuarterly · 95 paymentsAll RFFC payments⁠

BDVL vs RFFC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BDVL 8.7%since Oct 2025RFFC 11.8%
Return per unit of riskSharpe ratio, 3 years: BDVL 0.60since Oct 2025RFFC 1.45
Worst fallMax drawdown, 5 years: BDVL −7.7%since Sep 2025RFFC −22.3%
Market sensitivityBeta, 5 years: BDVL 0.61RFFC 0.92; Market = 1

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