COWS vs VONV

COWSBAmplify Cash Flow Dividend Leaders ETF

VONVAVanguard Russell 1000 Value ETF

In short

COWS Lots of funds hunt cash cows. COWS wants proof: positive forward and trailing free cash flow yield, plus three straight years of dividend growth. Monthly payouts, 0.19% net of a waiver through January 28, 2027.

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

COWS The Fund seeks long-term capital appreciation and monthly income by generally tracking the Kelly US Cash Flow Dividend Leaders Index.

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

• COWS The screen looks forward, not just back: both trailing and analyst-estimated forward free cash flow yield must be positive, then three consecutive years of dividend growth.amplifyetfs.com
• 0.19% net of a waiver through January 28, 2027 (0.39% gross) sits below the category median fee, and the fund ranks in the upper half of a crowded multifactor group.
• Equity income paid monthly, no options overlay or bond sleeve. Amplify estimates annual income and pays it in installments.amplifyetfs.com
• Modified equal weight across 40 to 50 mid- and large-cap names, rebalanced quarterly, so no single cash cow runs the herd.amplifyetfs.comamplifyetfs.com 2

• 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

• COWS Monthly checks are estimated ahead of time, so part of a payment can be return of capital: your own money coming back, as the fund discloses.amplifyetfs.com
• Plain-vanilla rivals cost less: VYM charges 0.04% and VONV 0.06% for broad dividend and value exposure, with no waiver propping up the number.
• A small fund that trades lightly, so spreads run wider than mega-cap staples. The index is proprietary to Kelly Indexes, an affiliate of the fund's sub-adviser.amplifyetfs.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 COWS profile⁠

Full VONV profile⁠