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CALF vs MGV

Pacer US Small Cap Cash Cows ETF

CALFDCboe

Vanguard Morningstar Mega Cap Value ETF

MGVANYSE Arca

Overlap

Expense ratio

MGV −0.54pt a year

CALF0.59%MGV0.05%

Avg volume · 30D

CALF 2.1×the volume

CALF523KMGV247K

5Y return · a year

MGV +4.9pt

CALF+8.0%MGV+12.9%

CALF vs MGV Performance

Oct 29, 2021 – Oct 30, 2026

+47.2%CALF+83.6%MGV

Oct 29, 2021 to Oct 30, 2026. CALF +47.2%. MGV +83.6%. Use the arrow keys to read each point.−20%0%20%60%Oct 2021Apr 2024Oct 2026
Expense ratio
CALF 0.59%
MGV 0.05%, better
Fund size
CALF $3.84B
MGV $13.6B
1Y total return
CALF +36.6%, better
MGV +25.6%
Yield (12M)
CALF 1.09%
MGV 1.82%, better
Holdings
CALF 201
MGV 117
Avg volume (30D)
CALF 523K sh, better
MGV 247K sh
NAV per share
CALF $58.47
MGV $168.92
52W range

ETF.net Grade

CALF: Cost 14, Risk 47, Mission 34, Tradability 62, Holdings 79, Durability 46. MGV: Cost 100, Risk 92, Mission 67, Tradability 49, Holdings 57, Durability 90.
Pillar letters and Scores for CALF, MGV, with each pillar’s weight
PillarCALFMGV
Cost30% weightF14A100Higher
Mission25% weightD34B67Higher
Risk15% weightC47A92Higher
Tradability15% weightB62HigherC49
Holdings10% weightA79HigherB57
Durability5% weightC46A90Higher

Rank among US Factor Index funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. CALF and MGV are both graded against the same 30 US Factor Index funds, so their Grades compare head to head.

US Factor Index⁠

Category · 30 funds
See all 30 ›

MGV ranks 1st and CALF 21st of 30 funds in the US Factor Index Category.

  1. Rank 1AMGVVanguard Morningstar Mega Cap Value ETFScore 78
  2. Rank 2AUSCAXtrackers MSCI USA Climate Action Equity ETFScore 74
  3. Rank 20CPOWAInvesco Bloomberg Pricing Power ETFScore 42
  4. Rank 21DCALFPacer US Small Cap Cash Cows ETFScore 39
  5. Rank 22DHAPSHarbor Human Capital Factor US Small Cap ETFScore 37

Our read on each fund

ETF.net Research

CALFDPacer US Small Cap Cash Cows ETF

MGVAVanguard Morningstar Mega Cap Value ETF

In short

CALF Small caps, one filter: cash. CALF ranks the S&P US small-cap universe by free cash flow yield and keeps the top 200, a cash-first alternative to the usual book-value screens. Running since 2017.

MGV Most "value" ETFs slide down into mid caps. MGV stays at the very top of the US market and buys the value half of it for five basis points. Vanguard's plain, cheap way to own the old-guard giants.

Stated mandate

CALF The fund seeks long-term capital appreciation by screening the S&P US SmallCap universe and selecting the top 200 small-cap companies based on free cash flow yield.

MGV The ETF seeks to track the Morningstar US Mega Cap Value Index and provides passive, diversified exposure to the largest value stocks in the U.S. market.

Why people hold it

  • CALF The screen is blunt in a good way: rank the S&P US small-cap universe on free cash flow yield, own the top 200. The filter rewards businesses generating cash, not just cheap-looking balance sheets.
  • Easy to get in and out of. It is an actively traded fund with over a billion in assets, and one of the smoother names to trade in its small-cap peer group.
  • Not a science project. Live since 2017, roughly 200 holdings, distributions paid quarterly, and it sits in the upper half of a crowded field of 35 small-cap strategy funds.
  • MGV At 0.05% it is the cheapest fund in its factor peer group, where the median charges 0.28%. It undercuts fellow top-rated peers SIZE (0.15%) and SUSA (0.25%).vanguard.com
  • Launched December 2007, straight into the crash, and now a multi-billion-dollar fund. Long history, quarterly distributions, Vanguard plumbing behind it.
  • One of the strongest overall showings in its US factor peer group, built on cost and staying power rather than a clever screen.

Worth knowing

  • CALF 0.59% a year is real money next to the systematic small-cap crowd, where AVUV and AVSC charge 0.25% and DUHP 0.20%. The cash flow screen is what you are paying up for.
  • One factor drives the whole portfolio. A free cash flow screen can pile into whichever sectors are throwing off cash, so the sector mix can look nothing like a plain small-cap index.
  • Small caps move harder than large caps, and this one holds only a slice of the universe (about 200 names), so choppy stretches come with the design.
  • MGV About 130 names, all mega caps. The biggest holdings carry real weight, and small and mid caps are absent by design.
  • It tracks a Morningstar index of the largest US value stocks, so it leaves out the market's growth giants and can move very differently from a total-market fund.vanguard.com
  • Moderately traded rather than a household-name ticker, so limit orders and mid-session trading matter more here than with the very largest index ETFs.

Full CALF profile⁠

Full MGV profile⁠

CALF vs MGV Holdings

As of
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.

CALF vs MGV Cost

Overpaying CALF vs MGV

$10,575

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

  • CALF 0.59%

    $11,635

  • MGV 0.05%

    $1,060

$10,000
30 years

Cost over time

  • CALF 0.59%
  • MGV 0.05%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530CALF $11,635MGV $1,060

Year by year

YearCALFMGVOverpaying
10$1,058$92$966
20$4,051$360$3,691
30$11,635$1,060$10,575

Expense ratio

  • 0.59%CALF
  • 0.05%MGV, cheaper
  • Middle half of US Factor Index funds
  • Median 0.30%

MGV cheapest of 30 funds

CALF 26th cheapest of 30 funds

CALF vs MGV Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
CALF 1.09%
MGV 1.82%, better
Payout (12M)
CALF $0.64
MGV $3.07
Last payment
CALF $0.19
MGV $0.72
Ex-dividend
CALF Sep 3, 2026
MGV Sep 28, 2026
Paid on
CALF Sep 8, 2026
MGV Sep 30, 2026
Frequency
CALF Quarterly
MGV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

CALFQuarterly · 35 paymentsAll CALF payments⁠
One bar per payment. 35 payments from 2017 to 2026 YTD. Sep 26, 2017 $0.06; Dec 27, 2017 $0.12; Mar 27, 2018 $0.08; Jun 26, 2018 $0.04; Sep 25, 2018 $0.09; Dec 24, 2018 $0.10; Mar 26, 2019 $0.08; Jun 25, 2019 $0.14; Dec 24, 2019 $0.05; Mar 23, 2020 $0.08; Jun 22, 2020 $0.01; Sep 21, 2020 $0.04; Dec 21, 2020 $0.12; Mar 22, 2021 $0.01; Jun 21, 2021 $0.05; Sep 23, 2021 $0.07; Dec 23, 2021 $0.99; Jun 23, 2022 $0.12; Sep 22, 2022 $0.08; Dec 22, 2022 $0.11; Mar 23, 2023 $0.13; Jun 22, 2023 $0.12; Sep 21, 2023 $0.15; Dec 27, 2023 $0.16; Mar 21, 2024 $0.08; Jun 27, 2024 $0.10; Sep 26, 2024 $0.15; Dec 27, 2024 $0.14; Mar 6, 2025 $0.07; Jun 5, 2025 $0.08; Sep 4, 2025 $0.16; Dec 30, 2025 $0.33; Mar 5, 2026 $0.07; Jun 4, 2026 $0.04; Sep 3, 2026 $0.19. Use the arrow keys to read each point.$0$12017202020232026YTD
MGVQuarterly · 39 paymentsAll MGV payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 29, 2017 $0.39; Jun 23, 2017 $0.41; Sep 27, 2017 $0.51; Dec 26, 2017 $0.47; Mar 22, 2018 $0.42; Jun 28, 2018 $0.46; Sep 28, 2018 $0.50; Dec 24, 2018 $0.51; Mar 25, 2019 $0.60; Jun 27, 2019 $0.57; Oct 1, 2019 $0.57; Dec 24, 2019 $0.60; Mar 26, 2020 $0.51; Jun 25, 2020 $0.53; Sep 11, 2020 $0.46; Dec 24, 2020 $0.65; Mar 26, 2021 $0.49; Jun 24, 2021 $0.55; Sep 29, 2021 $0.62; Dec 27, 2021 $0.66; Mar 24, 2022 $0.55; Jun 23, 2022 $0.60; Sep 28, 2022 $0.68; Dec 22, 2022 $0.70; Mar 23, 2023 $0.59; Jun 23, 2023 $0.66; Sep 21, 2023 $0.68; Dec 21, 2023 $0.77; Mar 21, 2024 $0.70; Jun 27, 2024 $0.73; Sep 26, 2024 $0.72; Dec 23, 2024 $0.72; Mar 27, 2025 $0.68; Jun 30, 2025 $0.68; Sep 29, 2025 $0.70; Dec 22, 2025 $0.82; Mar 27, 2026 $0.79; Jun 26, 2026 $0.73; Sep 28, 2026 $0.72. Use the arrow keys to read each point.$0$12017202020232026YTD

CALF vs MGV Risk

Fall from peak · 5 years

  • CALF
  • MGV
Oct 29, 2021 to Oct 30, 2026. Worst fall: CALF −34.2% · Apr 2025. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
CALF 20.1%MGV 11.1%, better
Return per unit of riskSharpe ratio, 3 years
CALF 0.58MGV 1.48, better
Worst fallMax drawdown, 5 years
CALF −34.2%MGV −16.5%, better
Market sensitivityBeta, 5 years
CALF 1.03MGV 0.66

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