BKDV vs VSLU: Grades, Fees and Holdings Compared

BNY Mellon Dynamic Value ETF

BKDVBNYSE Arca

Applied Finance Valuation Large Cap ETF

VSLUCNYSE Arca

Overlap

21.7%by weight

Expense ratio

VSLU −0.11pt a year

BKDV0.60%VSLU0.49%

Avg volume · 30D

BKDV 18.4×the volume

BKDV491KVSLU26.7K

BKDV vs VSLU Performance

Oct 31, 2025 – Oct 30, 2026

+24.8%BKDV+12.5%VSLU

Expense ratio: BKDV 0.60%; VSLU 0.49%, better
Fund size: BKDV $2.29B; VSLU $578M
1Y total return: BKDV +24.8%, better; VSLU +12.5%
Yield (12M): BKDV 0.52%, better; VSLU 0.42%
Holdings: BKDV 78; VSLU 442
Avg volume (30D): BKDV 491K sh, better; VSLU 26.7K sh
NAV per share: BKDV $34.69; VSLU $49.50
52W range

ETF.net Grade

Pillar letters and Scores for BKDV, VSLU, with each pillar’s weight
Pillar	BKDV	VSLU
Cost30% weight	C44	B57Higher
Mission25% weight	Not scored	A74
Risk15% weight	B67Higher	C46
Tradability15% weight	A74Higher	C45
Holdings10% weight	B57Higher	D39
Durability5% weight	A75Higher	B56

Rank among US Active Contrarian Value funds

How we build Categories ›

Same Category. BKDV and VSLU are both graded against the same 8 US Active Contrarian Value funds, so their Grades compare head to head.

US Active Contrarian Value⁠

Category · 8 funds

See all 8 ›

BKDV ranks 4th and VSLU 5th of 8 funds in the US Active Contrarian Value Category.

Rank 1ADFALDimensional US Large Cap Core Equity Market ETFScore 76
Rank 2ATVALT. Rowe Price Value ETFScore 72
Rank 3BCSTKInvesco Comstock Contrarian Equity ETFScore 65
Rank 4BBKDVBNY Mellon Dynamic Value ETFScore 58
Rank 5CVSLUApplied Finance Valuation Large Cap ETFScore 49
Rank 6CVAMOCambria Value and Momentum ETFScore 44

Our read on each fund

ETF.net Research

BKDVBBNY Mellon Dynamic Value ETF

VSLUCApplied Finance Valuation Large Cap ETF

In short

BKDV BNY Mellon's 2024 swing at active value: roughly 90 hand-picked US stocks, priced below what the typical active equity fund charges. A young fund with a very old asset manager behind it.

VSLU Applied Finance has been estimating what companies are actually worth since 1995. VSLU runs that engine on US large caps: own the ones trading below its intrinsic-value estimate, for less than the typical active fund charges.

Stated mandate

BKDV The fund seeks long-term capital appreciation and invests principally in common stocks.

VSLU The Fund’s stated objective is long-term capital appreciation.

Why people hold it

BKDV At 0.60% a year, it undercuts the 0.65% median for active US equity funds. Not index-cheap, but you aren't paying a premium for the stock picking.
Roughly 90 holdings, so every name has to earn its slot. This is a concentrated value book chasing long-term capital appreciation, not a closet index wearing a value label.
Sits in the top quartile of its active US equity peer group, helped by downside behavior that has been steadier than most rivals over its short life.
Already a billion-dollar-plus fund despite launching in 2024, backed by one of the oldest names in US asset management.

VSLU Charges 0.49% a year, below the 0.65% median for active US equity funds. Cheap fuel for an active strategy.
The engine is Applied Finance's Economic Margin framework, which strips accounting distortions to measure what a firm earns above or below its cost of capital.appliedfinance.com appliedfinance.com 2
Stock-picking with a leash: an active mandate for long-term capital appreciation, measured against the Morningstar US Large-Mid Cap Index.
Running since 2021 and one of the stronger overall showings in our active US equity group.

Worth knowing

BKDV Launched November 2024. The risk picture rests on about a year of live data, and short records tell you less than long ones.
Systematic peers cost a fraction of this: DFAU charges 0.12%, AVLC 0.15%. The active premium here is several times their fee.
Moderately traded rather than one of the busiest tickers in the category, so spreads can run wider than on big index products.

VSLU Thinly traded compared with the category's giants, so bid-ask spreads can be wider, especially in fast markets.
Cheap for active, not cheap outright: systematic peers like DFAU (0.12%) and AVLC (0.15%) charge roughly a third as much.
A value discipline means the portfolio can look very different from a cap-weighted index, and its results can diverge for long stretches.

Full BKDV profile⁠

Full VSLU profile⁠

BKDV vs VSLU Holdings

How BKDV and VSLU differ

Overlap by weight

21.7%

Shared holdings make up 62.6% of BKDV and 35.0% of VSLU.

Level by level

Holdings47 in both21.7%
Sector11 Sectors71.6%
Asset classEquity100%
Countryby domicile99.6%

Sector

Sector weights in BKDV and VSLU, widest gap first
Sector	More in BKDVMore in VSLU	BKDV	VSLU
Technology	VSLU +20.0 points	19.9%	39.9%
Financials	BKDV +9.0 points	18.2%	9.2%
Communication	VSLU +8.4 points	4.9%	13.3%
Energy	BKDV +5.4 points	7.6%	2.1%
Consumer Staples	BKDV +3.5 points	7.6%	4.1%
Health Care	BKDV +3.5 points	16.2%	12.7%
Materials	BKDV +3.3 points	4.3%	1.0%
Industrials	BKDV +3.2 points	9.7%	6.5%
Real Estate	BKDV +0.3 points	1.0%	0.7%
Consumer Discretionary	BKDV +0.3 points	9.8%	9.5%
Utilities	Same weight	0.9%	0.9%

Country, concentration and asset class

Country by domicile

Country weights in BKDV and VSLU, widest gap first
Country	More in BKDVMore in VSLU	BKDV	VSLU
United States	VSLU +0.1 points	99.4%	99.5%
Switzerland	BKDV +0.4 points	0.6%	0.2%
Canada	VSLU +0.1 points	0.0%	0.1%
Ireland	VSLU +0.1 points	0.0%	0.1%
Germany	Same weight	0.0%	0.0%
United Kingdom	Same weight	0.0%	0.0%
Mexico	Same weight	0.0%	0.0%
India	Same weight	0.0%	0.0%
Brazil	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

BKDV34.8%
VSLU51.4%

Securities held

BKDV78
VSLU441

Asset class

BKDV: Equity
VSLU: Equity

Holdings

Only in BKDV31
In both47
Only in VSLU394

Only in BKDV

31 securities, 37.5% of BKDV by weight

Amazon.com Inc4.95%
Dreyfus Institutional Preferred Government Money M3.99%
Berkshire Hathaway Inc-Cl B3.66%
JPMorgan Chase & Co3.54%
Thermo Fisher Scientific Inc2.22%
Elevance Health Inc1.68%
Packaging Corp of America1.41%
Walt Disney Co/The1.33%
Omnicom Group1.13%
Danaher Corp1.12%
Voya Financial Inc1.05%
Lowe's Cos Inc0.89%
Intel Corp0.76%
Morgan Stanley0.74%
Citigroup Inc0.70%
Honeywell International Inc0.67%
American International Group0.66%
Synopsys Inc0.65%
Freeport-Mcmoran Inc0.64%
Estee Lauder Companies-Cl A0.63%
Dolby Laboratories Inc-Cl A0.62%
Vylor Inc0.60%
Echostar Corp-A0.57%
Phillips 660.55%
International Paper Co0.53%
Nextera Energy Inc0.51%
Advanced Micro Devices0.49%
Marathon Petroleum Corp0.48%
Hubbell Inc0.48%
Akamai Technologies Inc0.28%
Net Current Assets<0.01%

Only in VSLU

394 securities, 64.6% of VSLU by weight

NVIDIA Corp9.48%
Alphabet Inc-Cl A4.93%
Visa Inc-Class A Shares3.70%
Eli Lilly & Co3.41%
Mastercard Inc - A2.76%
Broadcom Inc.2.76%
Booking Holdings Inc0.96%
Lam Resh Corp0.85%
Home Depot Inc0.84%
Marriott International, Inc Class A0.83%
Sandisk Corp/De Sndkv0.75%
Kla Corporation0.70%
Amgen Inc0.68%
Hilton Worldwide0.65%
Accenture Plc-Cl A0.62%
Mcdonalds Corp0.61%
Exxonmobil Holdings Corp Common Stock USD0.60%
Oreilly Automotive Inc0.57%
Progressive Corp0.56%
Mckesson Corp0.48%
Adobe Systems Inc0.47%
American Express Co0.44%
Marsh & Mclennan Cos0.43%
Moodys Corporation0.42%
Autozone Inc0.41%
Applied Materials Inc0.39%
Intuit Inc0.37%
Caterpillar Inc0.36%
Dell Technologies - Class C0.35%
Qualcomm Inc0.35%
Hca Healthcare Inc0.33%
Yum! Brands Inc0.33%
Union Pacific Corp0.33%
Applovin Corp0.33%
Altria Group Inc0.32%
Tjx Companies Inc0.32%
Pepsico Inc0.31%
Western Digital Corp0.30%
Chevron Corp0.29%
Transdigm Group Inc0.29%
Arista Networks Inc0.27%
Sherwin-Williams Co/The0.26%
Lockheed Martin Corp0.26%
Vistra Corp0.25%
Allstate Corp0.25%
Netflix Inc0.25%
Ford Motor Co0.24%
Boston Scientific Corp0.22%
Abbott Laboratories Common Stock USD 00.22%
Parker-Hannifin Corp Common Stock USD 0.50.22%

Weight gaps

All 47 Holdings in both funds, largest gap first.

Holding weights in BKDV and VSLU, widest gap first
Holding	More in BKDVMore in VSLU	BKDV	VSLU
Apple IncAAPL	VSLU +7.01 points	3.38%	10.39%
Meta Platforms Inc-Class AMETA	VSLU +3.50 points	0.72%	4.22%
Slb LtdSLB	BKDV +2.64 points	2.70%	0.06%
Microsoft CorpMSFT	VSLU +2.41 points	5.84%	8.25%
Assurant IncAIZ	BKDV +2.20 points	2.21%	0.01%
UnitedHealth Group IncUNH	BKDV +2.16 points	2.35%	0.19%
Fifth Third BancorpFITB	BKDV +2.10 points	2.11%	0.01%
Vulcan Materials CoVMC	BKDV +1.66 points	1.69%	0.03%
Devon Energy CorpDVN	BKDV +1.66 points	1.71%	0.05%
Newmont CorpNEM	BKDV +1.59 points	1.75%	0.16%
Colgate-Palmolive CoCL	BKDV +1.51 points	1.64%	0.13%
Delta Air Lines IncDAL	BKDV +1.39 points	1.46%	0.07%
Deere & CoDE	BKDV +1.39 points	1.48%	0.09%
Coca-Cola Co/TheKO	BKDV +1.29 points	1.86%	0.57%
Agilent Technologies IncA	BKDV +1.22 points	1.30%	0.08%
Texas Instruments IncTXN	BKDV +1.21 points	1.34%	0.13%
Philip Morris InternationalPM	BKDV +1.10 points	1.91%	0.81%
Occidental Petroleum CorpOXY	BKDV +1.10 points	1.17%	0.07%
Rtx CorpRTX	BKDV +1.08 points	1.33%	0.25%
Procter & Gamble Co/ThePG	BKDV +1.03 points	1.46%	0.43%
Capital One Financial CorpCOF	BKDV +1.02 points	1.06%	0.04%
Diamondback Energy IncFANG	BKDV +0.99 points	1.11%	0.12%
Cisco Systems IncCSCO	BKDV +0.94 points	1.63%	0.69%
Gilead Sciences IncGILD	BKDV +0.91 points	1.13%	0.22%
General Motors CoGM	BKDV +0.74 points	1.05%	0.31%
Medtronic PLCMDT	BKDV +0.72 points	0.85%	0.13%
Johnson & JohnsonJNJ	BKDV +0.71 points	2.03%	1.32%
Veralto CorpVLTO	BKDV +0.61 points	0.67%	0.06%
Aon Plc-Class AAON	BKDV +0.60 points	0.93%	0.33%
Target CorpTGT	BKDV +0.59 points	0.68%	0.09%
Csx CorpCSX	BKDV +0.58 points	0.73%	0.15%
Verizon Communications IncVZ	BKDV +0.57 points	0.77%	0.20%
Ferguson Enterprises IncFERG	BKDV +0.56 points	0.62%	0.06%
Netapp IncNTAP	BKDV +0.54 points	0.59%	0.05%
Nutanix Inc - ANTNX	BKDV +0.53 points	0.55%	0.02%
Eqt CorpEQT	BKDV +0.51 points	0.56%	0.05%
Constellation EnergyCEG	BKDV +0.50 points	0.92%	0.42%
Chubb LtdCB	BKDV +0.46 points	0.59%	0.13%
AbbVie IncABBV	BKDV +0.44 points	1.54%	1.10%
Biogen IncBIIB	BKDV +0.43 points	0.49%	0.06%
Royal Caribbean Cruises LtdRCL	BKDV +0.43 points	0.65%	0.22%
Marvell Technology IncMRVL	BKDV +0.40 points	0.45%	0.05%
Merck & Co. Inc.MRK	VSLU +0.34 points	1.15%	1.49%
Intl Business Machines CorpIBM	BKDV +0.29 points	0.84%	0.55%
Pfizer IncPFE	BKDV +0.24 points	0.52%	0.28%
T-Mobile Us IncTMUS	BKDV +0.20 points	0.53%	0.33%
Bristol-Myers Squibb CoBMY	VSLU +0.01 points	0.52%	0.53%

All 79 BKDV holdings⁠All VSLU 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.

BKDV vs VSLU Cost

Overpaying BKDV vs VSLU

$2,025

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

BKDV 0.60%
$11,817
VSLU 0.49%
$9,792

Amount$10,000

Years30 years

Cost over time

BKDV 0.60%
VSLU 0.49%
Overpaying

Year by year

Year	BKDV	VSLU	Overpaying
10	$1,076	$883	$193
20	$4,116	$3,394	$722
30	$11,817	$9,792	$2,025

Expense ratio

0.60%BKDV
0.49%VSLU, cheaper

VSLU0.49%BKDV0.60%

0.12%0.85%

Middle half of US Active Contrarian Value funds
Median 0.54%

VSLU 4th cheapest of 8 funds

BKDV 5th cheapest of 8 funds

BKDV vs VSLU Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BKDV 0.52%, better; VSLU 0.42%
Payout (12M): BKDV $0.18; VSLU $0.20
Last payment: BKDV $0.18; VSLU $0.20
Ex-dividend: BKDV Dec 29, 2025; VSLU Dec 24, 2025
Paid on: BKDV Jan 2, 2026; VSLU Dec 26, 2025
Frequency: BKDV Annual; VSLU Annual

Distribution history

Per share, 2021 to 2026, same scale for both

BKDVAnnual · 2 paymentsAll BKDV payments⁠

VSLUAnnual · 5 paymentsAll VSLU payments⁠

BKDV vs VSLU Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BKDV 11.9%since Dec 2024VSLU 11.6%
Return per unit of riskSharpe ratio, 3 years: BKDV 0.94since Dec 2024VSLU 1.53
Worst fallMax drawdown, 5 years: BKDV −15.5%since Nov 2024VSLU −23.9%
Market sensitivityBeta, 5 years: BKDV 0.73VSLU 0.95; Market = 1

Popular comparisons

BKDVBvsDFALA
BNY Mellon Dynamic Value ETF · Dimensional US Large Cap Core Equity Market ETF
Expense ratio
0.60% · 0.12%
Category
VSLUCvsDFALA
Applied Finance Valuation Large Cap ETF · Dimensional US Large Cap Core Equity Market ETF
Expense ratio
0.49% · 0.12%
Category
BKDVBvsTVALA
BNY Mellon Dynamic Value ETF · T. Rowe Price Value ETF
Expense ratio
0.60% · 0.33%
Category
VSLUCvsTVALA
Applied Finance Valuation Large Cap ETF · T. Rowe Price Value ETF
Expense ratio
0.49% · 0.33%
Category
BKDVBvsCSTKB
BNY Mellon Dynamic Value ETF · Invesco Comstock Contrarian Equity ETF
Expense ratio
0.60% · 0.35%
Category
VSLUCvsCSTKB
Applied Finance Valuation Large Cap ETF · Invesco Comstock Contrarian Equity ETF
Expense ratio
0.49% · 0.35%
Category