CAPE vs VONV: Grades, Fees and Holdings Compared

DoubleLine Shiller CAPE U.S. Equities ETF

CAPEDNYSE Arca

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

22.3%by weight

Expense ratio

VONV −0.59pt a year

CAPE0.65%VONV0.06%

Avg volume · 30D

VONV 23.8×the volume

CAPE32.5KVONV774K

3Y return · a year

VONV +10.3pt

CAPE+12.9%VONV+23.2%

CAPE vs VONV Performance

Oct 31, 2025 – Oct 30, 2026

+3.3%CAPE+28.5%VONV

Expense ratio: CAPE 0.65%; VONV 0.06%, better
Fund size: CAPE $206M; VONV $23.3B
1Y total return: CAPE +3.3%; VONV +28.5%, better
Yield (12M): CAPE 1.58%, better; VONV 1.53%
Holdings: CAPE 173; VONV 873
Avg volume (30D): CAPE 32.5K sh; VONV 774K sh, better
NAV per share: CAPE $32.02; VONV $113.44
52W range

ETF.net Grade

Pillar letters and Scores for CAPE, VONV, with each pillar’s weight
Pillar	CAPE	VONV
Cost30% weight	F7	A96Higher
Mission25% weight	C40	A100Higher
Risk15% weight	C46	A86Higher
Tradability15% weight	D27	B60Higher
Holdings10% weight	D34	C49Higher
Durability5% weight	F21	A93Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. CAPE and VONV are both graded against the same 99 US Multifactor funds, so their Grades compare head to head.

US Multifactor⁠

Category · 99 funds

See all 99 ›

VONV ranks 1st and CAPE 94th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 94DABLDAbacus FCF Real Assets Leaders ETFScore 27
Rank 94DCAPEDoubleLine Shiller CAPE U.S. Equities ETFScore 27
Rank 96DBAGXEA Bridgeway Aggressive Investors ETFScore 25

Our read on each fund

ETF.net Research

CAPEDDoubleLine Shiller CAPE U.S. Equities ETF

VONVAVanguard Russell 1000 Value ETF

In short

CAPE Nobel laureate Robert Shiller's CAPE ratio, wired into an ETF: each month it ranks the 11 US sectors on valuation, throws out the one with the worst momentum, and holds the four cheapest survivors in equal weight.

VONV The plain-vanilla value trade, done cheap: about 900 large US value stocks, full replication of the Russell 1000 Value Index, 0.06% a year. No factor cocktail, no premium price tag, and one of the strongest implementations in its factor peer group.

Stated mandate

CAPE The fund seeks total returns above the S&P 500 by investing in the four cheapest U.S. large-cap sectors selected through modified CAPE valuation and momentum-based value-trap mitigation.

VONV The fund seeks to track the Russell 1000 Value Index, representing large-capitalization value stocks in the United States. It uses passive indexing and full replication to remain closely aligned with that benchmark.

Why people hold it

CAPE The rulebook is legible: five cheapest sectors by a modified CAPE ratio, minus the weakest 12-month performer, equal weight across the four left standing, rebalanced monthly.doubleline.com
Four equal-weight sector sleeves out of eleven is a genuinely different shape from the cap-weighted S&P 500 the fund names as its benchmark.doubleline.com
The momentum screen exists for one job: keeping the portfolio out of sectors that are cheap because something is broken, not because they are overlooked.doubleline.com
DoubleLine runs it actively against an index it built with Barclays and Shiller, live in ETF form since 2022.prnewswire.com

VONV 0.06% a year, a fraction of the typical fee among factor ETFs. On a rules-based value index there is little room for cleverness, so cost does most of the work.vanguard.com
Full replication, not sampling: it owns the index's roughly 900 names and has stayed tightly aligned with the Russell 1000 Value benchmark since launching in 2010.
Same Russell benchmark as pricier rivals for less: the Goldman MarketBeta version (GVUS) charges 0.12% to track the identical value index.
A multi-billion-dollar fund that trades actively, among the easiest in its group to get in and out of, and it distributes quarterly.

Worth knowing

CAPE At 0.65% a year it runs well above the US multifactor median near 0.32%, and above value peers such as FNDX (0.25%) or VONV (0.06%).
Concentration cuts both ways: holding four of eleven sectors means results can diverge widely from the S&P 500 in either direction.doubleline.com
Thinly traded for its category, and unlike a traditional ETF it does not publish holdings daily, so spreads can be wider and the portfolio less visible.doubleline.com

VONV One screen, one style. Value only, with no quality or momentum overlay, so the ride follows the value side of the market wherever it goes.vanguard.com
This is the entire value bucket, not a best-ideas portfolio. About 900 holdings means results hug the large-cap value category rather than stray from it.
Cheaper exists nearby: Vanguard's VYM charges 0.04%, but it screens for dividend yield, a different portfolio than a Russell value index.

Full CAPE profile⁠

Full VONV profile⁠

CAPE vs VONV Holdings

How CAPE and VONV differ

Overlap by weight

22.3%

Shared holdings make up 89.1% of CAPE and 22.4% of VONV.

Level by level

Holdings151 in both22.3%
Sector11 Sectors24.7%
Countryby domicile98.2%
Asset classEquity100%

Sector

Sector weights in CAPE and VONV, widest gap first
Sector	More in CAPEMore in VONV	CAPE	VONV
Technology	VONV +21.6 points	0.3%	21.9%
Real Estate	CAPE +21.0 points	24.5%	3.5%
Consumer Discretionary	CAPE +18.5 points	28.9%	10.4%
Materials	CAPE +18.2 points	21.5%	3.3%
Financials	VONV +17.9 points	0.0%	17.9%
Consumer Staples	CAPE +17.5 points	24.7%	7.2%
Health Care	VONV +13.4 points	0.0%	13.4%
Industrials	VONV +9.5 points	0.0%	9.5%
Energy	VONV +6.2 points	0.0%	6.2%
Utilities	VONV +3.4 points	0.0%	3.4%
Communication	VONV +3.3 points	0.1%	3.4%

Country, concentration and asset class

Country by domicile

Country weights in CAPE and VONV, widest gap first
Country	More in CAPEMore in VONV	CAPE	VONV
United States	VONV +1.8 points	98.2%	100.0%
Ireland	CAPE +0.8 points	0.8%	0.0%
United Kingdom	CAPE +0.7 points	0.7%	0.0%
Switzerland	CAPE +0.3 points	0.3%	0.0%

Concentration

Weight in the 10 largest Holdings

CAPE29.0%
VONV29.8%

Securities held

CAPE170
VONV871

Asset class

CAPE: Equity
VONV: Equity

Holdings

Only in CAPE19
In both151
Only in VONV720

Only in CAPE

19 securities, 10.7% of CAPE by weight

Tesla Inc4.27%
Simon Property Group Inc1.11%
Booking Holdings Inc0.96%
Vivmark Residential0.86%
Ball Corp0.57%
DoorDash Inc0.55%
Airbnb Inc0.48%
Hilton Worldwide Holdings Inc0.45%
Carvana Co0.33%
Chipotle Mexican Grill Inc0.30%
Expedia Group Inc0.23%
Tapestry Inc0.15%
Darden Restaurants Inc0.15%
Sabra Health Care REIT Inc0.09%
Las Vegas Sands Corp0.08%
Northern Institutional Funds -0.07%
MSILF Government Portfolio0.07%
Sycamore Partners LLC<0.01%
TPG Inc0.00%

Only in VONV

720 securities, 77.5% of VONV by weight

Apple Inc6.07%
Microsoft Corp5.24%
Berkshire Hathaway Inc2.55%
JPMorgan Chase & Co2.43%
ExxonMobil Holdings Corp1.84%
Johnson & Johnson1.75%
Intel Corp1.51%
AbbVie Inc1.17%
Cisco Systems Inc1.17%
Chevron Corp1.04%
Merck & Co Inc0.99%
UnitedHealth Group Inc0.91%
Bank of America Corp0.91%
Meta Platforms Inc0.80%
Thermo Fisher Scientific Inc0.69%
RTX Corp0.69%
Goldman Sachs Group Inc/The0.67%
Wells Fargo & Co0.67%
Morgan Stanley0.58%
International Business Machines Corp0.57%
QUALCOMM Inc0.53%
Verizon Communications Inc0.53%
Gilead Sciences Inc0.51%
Salesforce Inc0.50%
Walt Disney Co/The0.50%
Citigroup Inc0.50%
Analog Devices Inc0.49%
Abbott Laboratories0.47%
Deere & Co0.46%
AT&T Inc0.45%
Pfizer Inc0.45%
Blackrock Inc0.44%
NextEra Energy Inc0.43%
ConocoPhillips0.42%
Union Pacific Corp0.41%
Charles Schwab Corp/The0.41%
Dell Technologies Inc0.39%
Eaton Corp PLC0.39%
Danaher Corp0.39%
Vertex Pharmaceuticals Inc0.37%
Bristol-Myers Squibb Co0.35%
Progressive Corp/The0.33%
Uber Technologies Inc0.33%
Parker-Hannifin Corp0.33%
S&P Global Inc0.32%
Capital One Financial Corp0.32%
Chubb Ltd0.31%
American Express Co0.31%
Accenture PLC0.31%
Medtronic PLC0.30%

Weight gaps

The 100 widest of 151 Holdings in both funds.

Holding weights in CAPE and VONV, widest gap first
Holding	More in CAPEMore in VONV	CAPE	VONV
Linde PLCLIN	CAPE +2.75 points	3.35%	0.60%
Welltower IncWELL	CAPE +2.30 points	2.76%	0.46%
Prologis IncPLD	CAPE +1.90 points	2.24%	0.34%
Newmont CorpNEM	CAPE +1.66 points	1.99%	0.33%
Costco Wholesale CorpCOST	CAPE +1.61 points	2.24%	0.63%
Freeport-McMoRan IncFCX	CAPE +1.34 points	1.62%	0.28%
Walmart IncWMT	CAPE +1.32 points	2.47%	1.15%
Home Depot Inc/TheHD	CAPE +1.15 points	1.35%	0.20%
Corteva IncCTVA	CAPE +1.11 points	1.25%	0.14%
Sherwin-Williams Co/TheSHW	CAPE +1.08 points	1.23%	0.15%
Air Products and Chemicals IncAPD	CAPE +1.06 points	1.23%	0.17%
Coca-Cola Co/TheKO	CAPE +1.03 points	1.84%	0.81%
Colgate-Palmolive CoCL	CAPE +1.02 points	1.13%	0.11%
Ecolab IncECL	CAPE +1.02 points	1.21%	0.19%
Vulcan Materials CoVMC	CAPE +1.00 points	1.09%	0.09%
Digital Realty Trust IncDLR	CAPE +0.99 points	1.17%	0.18%
Target CorpTGT	CAPE +0.97 points	1.17%	0.20%
Monster Beverage CorpMNST	CAPE +0.96 points	1.05%	0.09%
Nucor CorpNUE	CAPE +0.96 points	1.10%	0.14%
Martin Marietta Materials IncMLM	CAPE +0.95 points	1.03%	0.08%
American Tower CorpAMT	CAPE +0.94 points	1.01%	0.07%
Mondelez International IncMDLZ	CAPE +0.90 points	1.10%	0.20%
Realty Income CorpO	CAPE +0.89 points	1.03%	0.14%
Steel Dynamics IncSTLD	CAPE +0.88 points	0.96%	0.08%
Crh PLCCRH	CAPE +0.89 points	1.04%	0.15%
Procter & Gamble Co/ThePG	CAPE +0.88 points	1.81%	0.93%
Equinix IncEQIX	CAPE +0.85 points	1.12%	0.27%
Public StoragePSA	CAPE +0.81 points	0.93%	0.12%
PPG Industries IncPPG	CAPE +0.79 points	0.85%	0.06%
Smurfit WestRock PLCSW	CAPE +0.77 points	0.83%	0.06%
Altria Group IncMO	CAPE +0.75 points	1.06%	0.31%
Philip Morris International InPM	CAPE +0.74 points	1.56%	0.82%
Dow IncDOW	CAPE +0.70 points	0.75%	0.05%
International Flavors & FragraIFF	CAPE +0.69 points	0.75%	0.06%
PepsiCo IncPEP	CAPE +0.68 points	1.10%	0.42%
Ventas IncVTR	CAPE +0.68 points	0.80%	0.12%
CBRE Group IncCBRE	CAPE +0.69 points	0.78%	0.09%
Amcor PLCAMCR	CAPE +0.67 points	0.72%	0.05%
Packaging Corp of AmericaPKG	CAPE +0.65 points	0.70%	0.05%
TJX Cos Inc/TheTJX	CAPE +0.64 points	0.86%	0.22%
International Paper CoIP	CAPE +0.63 points	0.68%	0.05%
CF Industries Holdings IncCF	CAPE +0.62 points	0.67%	0.05%
Starbucks CorpSBUX	CAPE +0.62 points	0.75%	0.13%
Keurig Dr Pepper IncKDP	CAPE +0.59 points	0.70%	0.11%
Sysco CorpSYY	CAPE +0.57 points	0.62%	0.05%
McDonald's CorpMCD	CAPE +0.56 points	1.01%	0.45%
Iron Mountain IncIRM	CAPE +0.53 points	0.62%	0.09%
LyondellBasell Industries NVLYB	CAPE +0.53 points	0.57%	0.04%
Crown Castle IncCCI	CAPE +0.52 points	0.60%	0.08%
Archer-Daniels-Midland CoADM	CAPE +0.53 points	0.63%	0.10%
Kimberly-Clark CorpKMB	CAPE +0.51 points	0.57%	0.06%
Albemarle CorpALB	CAPE +0.51 points	0.54%	0.03%
Kenvue IncKVUE	CAPE +0.49 points	0.58%	0.09%
Extra Space Storage IncEXR	CAPE +0.46 points	0.54%	0.08%
VICI Properties IncVICI	CAPE +0.44 points	0.51%	0.07%
Casey's General Stores IncCASY	CAPE +0.43 points	0.44%	<0.01%
Kroger Co/TheKR	CAPE +0.43 points	0.52%	0.09%
Ross Stores IncROST	CAPE +0.43 points	0.46%	0.03%
Lowe's Cos IncLOW	CAPE +0.43 points	0.71%	0.28%
Avery Dennison CorpAVY	CAPE +0.41 points	0.45%	0.04%
Marriott International Inc/MDMAR	CAPE +0.41 points	0.46%	0.05%
Dollar General CorpDG	CAPE +0.38 points	0.45%	0.07%
Hershey Co/TheHSY	CAPE +0.36 points	0.42%	0.06%
Estee Lauder Cos Inc/TheEL	CAPE +0.36 points	0.41%	0.05%
Royal Caribbean Cruises LtdRCL	CAPE +0.34 points	0.42%	0.08%
SBA Communications CorpSBAC	CAPE +0.32 points	0.37%	0.05%
Church & Dwight Co IncCHD	CAPE +0.32 points	0.38%	0.06%
Dollar Tree IncDLTR	CAPE +0.31 points	0.37%	0.06%
General Mills IncGIS	CAPE +0.30 points	0.35%	0.05%
Kraft Heinz Co/TheKHC	CAPE +0.30 points	0.35%	0.05%
General Motors CoGM	CAPE +0.29 points	0.48%	0.19%
Essex Property Trust IncESS	CAPE +0.28 points	0.33%	0.05%
Jones Lang LaSalle IncJLL	CAPE +0.27 points	0.31%	0.04%
Weyerhaeuser CoWY	CAPE +0.27 points	0.31%	0.04%
O'Reilly Automotive IncORLY	CAPE +0.27 points	0.46%	0.19%
Annaly Capital Management IncNLY	CAPE +0.26 points	0.30%	0.04%
Kimco Realty CorpKIM	CAPE +0.25 points	0.29%	0.04%
Constellation Brands IncSTZ	CAPE +0.24 points	0.29%	0.05%
Invitation Homes IncINVH	CAPE +0.25 points	0.29%	0.04%
WP Carey IncWPC	CAPE +0.24 points	0.28%	0.04%
Mosaic Co/TheMOS	CAPE +0.24 points	0.26%	0.02%
Mid-America Apartment CommunitMAA	CAPE +0.23 points	0.27%	0.04%
Healthpeak Properties IncDOC	CAPE +0.22 points	0.26%	0.04%
Sun Communities IncSUI	CAPE +0.21 points	0.25%	0.04%
Bunge Global SABG	CAPE +0.21 points	0.25%	0.04%
Host Hotels & Resorts IncHST	CAPE +0.21 points	0.25%	0.04%
Ford Motor CoF	CAPE +0.21 points	0.34%	0.13%
Tyson Foods IncTSN	CAPE +0.21 points	0.25%	0.04%
CoStar Group IncCSGP	CAPE +0.21 points	0.24%	0.03%
Lamar Advertising CoLAMR	CAPE +0.20 points	0.23%	0.03%
Omega Healthcare Investors IncOHI	CAPE +0.20 points	0.24%	0.04%
AutoZone IncAZO	CAPE +0.20 points	0.31%	0.11%
AGNC Investment CorpAGNC	CAPE +0.19 points	0.22%	0.03%
eBay IncEBAY	CAPE +0.19 points	0.28%	0.09%
Equity LifeStyle Properties InELS	CAPE +0.19 points	0.22%	0.03%
Yum! Brands IncYUM	CAPE +0.19 points	0.26%	0.07%
J M Smucker Co/TheSJM	CAPE +0.19 points	0.22%	0.03%
McCormick & Co Inc/MDMKC	CAPE +0.19 points	0.22%	0.03%
Regency Centers CorpREG	CAPE +0.18 points	0.22%	0.04%
Gaming and Leisure PropertiesGLPI	CAPE +0.18 points	0.21%	0.03%

All CAPE holdings⁠All 872 VONV 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.

CAPE vs VONV Cost

Overpaying CAPE vs VONV

$11,447

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

CAPE 0.65%
$12,717
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

CAPE 0.65%
VONV 0.06%
Overpaying

Year by year

Year	CAPE	VONV	Overpaying
10	$1,163	$110	$1,053
20	$4,440	$432	$4,008
30	$12,717	$1,270	$11,447

Expense ratio

0.65%CAPE
0.06%VONV, cheaper

VONV0.06%CAPE0.65%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VONV 4th cheapest of 99 funds

CAPE 91st cheapest of 99 funds

CAPE vs VONV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CAPE 1.58%, better; VONV 1.53%
Payout (12M): CAPE $0.51; VONV $1.74
Last payment: CAPE $0.17; VONV $0.42
Ex-dividend: CAPE Oct 1, 2026; VONV Sep 23, 2026
Paid on: CAPE Oct 7, 2026; VONV Sep 25, 2026
Frequency: CAPE Quarterly; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

CAPEQuarterly · 18 paymentsAll CAPE payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

CAPE vs VONV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CAPE 13.0%VONV 12.1%, better
Return per unit of riskSharpe ratio, 3 years: CAPE 0.66VONV 1.43, better
Worst fallMax drawdown, 5 years: CAPE −22.1%since Mar 2022VONV −18.9%
Market sensitivityBeta, 5 years: CAPE 0.78VONV 0.85; Market = 1

CAPE and VONV in the news

All news⁠

Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026CAPEVONV
Best ETFs
Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list
Updated Nov 2, 2026VONV
Best ETFs
The best value ETF depends on whose list you bought
Updated Oct 2, 2026VONV

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CAPE vs VONV

In short

Stated mandate

Why people hold it

Worth knowing

How CAPE and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CAPE

Only in VONV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

US multifactor funds ran 30 points apart

Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list

The best value ETF depends on whose list you bought

How CAPE and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CAPE

Only in VONV

Weight gaps