CVAR vs DYNF: Grades, Fees and Holdings Compared

Cultivar ETF

CVARCCboe

iShares U.S. Equity Factor Rotation Active ETF

DYNFANYSE Arca

Overlap

5.2%by weight

Expense ratio

DYNF −0.61pt a year

CVAR0.87%DYNF0.26%

Avg volume · 30D

DYNF 1249.8×the volume

CVAR1.8KDYNF2.25M

3Y return · a year

DYNF +10.0pt

CVAR+16.7%DYNF+26.7%

CVAR vs DYNF Performance

Oct 31, 2025 – Oct 30, 2026

+17.3%CVAR+11.6%DYNF

Expense ratio: CVAR 0.87%; DYNF 0.26%, better
Fund size: CVAR $47M; DYNF $41.8B
1Y total return: CVAR +17.3%, better; DYNF +11.6%
Yield (12M): CVAR 1.34%, better; DYNF 0.84%
Holdings: CVAR 88; DYNF 264
Avg volume (30D): CVAR 1.8K sh; DYNF 2.25M sh, better
NAV per share: CVAR $32.08; DYNF $67.32
52W range

ETF.net Grade

Pillar letters and Scores for CVAR, DYNF, with each pillar’s weight
Pillar	CVAR	DYNF
Cost30% weight	D25	A86Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	A72Higher	A71
Tradability15% weight	F21	A99Higher
Holdings10% weight	A74Higher	B65
Durability5% weight	D37	A97Higher

Rank among US Active Equity funds

How we build Categories ›

Same Category. CVAR and DYNF are both graded against the same 121 US Active Equity funds, so their Grades compare head to head.

US Active Equity⁠

Category · 121 funds

See all 121 ›

DYNF ranks 4th and CVAR 81st of 121 funds in the US Active Equity Category.

Rank 1AAVLCAvantis U.S. Large Cap Equity ETFScore 87
Rank 2ADFAUDimensional US Core Equity Market ETFScore 86
Rank 3ADFACDimensional US Core Equity 2 ETFScore 85
Rank 4ADYNFiShares U.S. Equity Factor Rotation Active ETFScore 83
Rank 4AFELCFidelity Enhanced Large Cap Core ETFScore 83
Rank 81DBRESBurney U.S. Equity Select ETFScore 40
Rank 81CCVARCultivar ETFScore 40
Rank 81CUSFEFirst Eagle US Equity ETFScore 40

Our read on each fund

ETF.net Research

CVARCCultivar ETF

DYNFAiShares U.S. Equity Factor Rotation Active ETF

In short

CVAR No data

DYNF Most factor funds make you pick a lane: value, momentum, quality. DYNF rotates across five styles instead, letting a factor model decide which one leads, and charges an index-fund-ish 0.26% to do it.

Stated mandate

CVAR No data

DYNF The Fund seeks to outperform the U.S. equity market through diversified, tactical exposure to style factors using a factor rotation model.

Why people hold it

CVAR No data

DYNF Five style factors in one ticket (value, quality, momentum, growth, low volatility), reweighted by a rotation model rather than locked to a single tilt.
0.26% is well under half the median fee in its active US equity peer group, which is unusual pricing for a strategy with a human-supervised model behind it.
A multi-billion-dollar fund and one of the more actively traded names in its category, so getting in and out rarely becomes the hard part. Pays quarterly.
Running since 2019 under one of the biggest ETF shops, and it stands among the strongest overall implementations in the active US equity group we track.

Worth knowing

CVAR No data

DYNF The yardstick isn't the S&P 500: it's a custom blend of 80% MSCI USA and 20% MSCI USA Minimum Volatility, so a low-vol tilt is baked into the benchmark itself.
Active by design. The factor mix shifts, the book runs to a couple hundred stocks, and a rotation call can leave it out of step with a plain US market index fund.
Cheap for active, not the cheapest shelf: systematic peers DFAU (0.12%), AVLC (0.15%), DFAC (0.17%) and FELC (0.18%) all undercut it on fee.

Full CVAR profile⁠

Full DYNF profile⁠

CVAR vs DYNF Holdings

How CVAR and DYNF differ

Overlap by weight

5.2%

Shared holdings make up 23.8% of CVAR and 5.6% of DYNF.

Level by level

Holdings23 in both5.2%
Sector11 Sectors56.0%
Countryby domicile89.7%
Asset classEquity100%

Sector

Sector weights in CVAR and DYNF, widest gap first
Sector	More in CVARMore in DYNF	CVAR	DYNF
Health Care	CVAR +20.0 points	27.7%	7.7%
Technology	DYNF +19.7 points	20.2%	39.9%
Financials	DYNF +11.5 points	3.9%	15.4%
Consumer Staples	CVAR +11.4 points	13.6%	2.2%
Communication	DYNF +8.1 points	1.5%	9.6%
Real Estate	CVAR +5.0 points	7.0%	2.0%
Materials	CVAR +4.6 points	5.5%	0.9%
Consumer Discretionary	DYNF +4.2 points	2.8%	7.0%
Utilities	CVAR +3.0 points	4.8%	1.8%
Energy	DYNF +0.4 points	4.9%	5.3%
Industrials	CVAR +0.1 points	8.1%	8.0%

Country, concentration and asset class

Country by domicile

Country weights in CVAR and DYNF, widest gap first
Country	More in CVARMore in DYNF	CVAR	DYNF
United States	DYNF +10.3 points	89.7%	100.0%
Canada	CVAR +3.2 points	3.2%	0.0%
France	CVAR +1.8 points	1.8%	0.0%
Israel	CVAR +1.8 points	1.8%	0.0%
United Kingdom	CVAR +1.1 points	1.1%	0.0%
Norway	CVAR +1.0 points	1.0%	0.0%
Germany	CVAR +0.8 points	0.8%	0.0%
India	CVAR +0.6 points	0.6%	0.0%

Concentration

Weight in the 10 largest Holdings

CVAR30.3%
DYNF40.4%

Securities held

CVAR87
DYNF262

Asset class

CVAR: Equity
DYNF: Equity

Holdings

Only in CVAR64
In both23
Only in DYNF239

Only in CVAR

64 securities, 67.1% of CVAR by weight

Wi Treasury Bond3.11%
Us Treasury N/B 05/54 4.6252.81%
Healthcare Services Group2.60%
Kimberly-Clark Corp2.41%
Paycom Software Inc2.40%
Veeva Systems Inc-Class A2.23%
Skyworks Solutions Inc1.94%
Core Laboratories N.v.1.87%
Dassault Systemes S-Spon Adr1.65%
Lamb Weston1.61%
Alexandria Real Estate Equitie1.59%
Northwest Natural Holding Co1.46%
Zoetis Inc1.45%
Eversource Energy1.42%
Global Payments Inc1.31%
Tyler Technologies Inc1.26%
Hershey Co/The1.24%
Proto Labs Inc1.20%
Factset Research Systems Inc1.15%
Ingredion Inc Common Stock USD 0.011.09%
J M Smucker Co COM STK NPV1.09%
Check Point Software Technologies Ltd.1.08%
Agilent Technologies Inc1.08%
Jack Henry1.05%
Copart Inc1.05%
York Water Co1.00%
Weyerhaeuser Co0.99%
Barrick Mining Corp.0.99%
PayPal Holdings Inc0.94%
Southwest Airlines Co0.93%
Edwards Lifesciences Corp0.93%
Tyson Foods Inc-Cl A0.92%
Bp Plc-Spons Adr0.92%
Equinor Asa-Spon Adr0.88%
Crown Castle Intl Corp0.88%
Nutrien Ltd Common Stock0.87%
Canadian Natl Railway Co0.84%
Portland General Electric Co.0.83%
Independent Bank Corp/Ma0.82%
Wiley (John) & Sons-Class A0.81%
AO Smith Corp0.79%
Rayonier Inc0.75%
Amdocs Ltd0.74%
Marzetti Company0.67%
Manhattan Associates Inc0.66%
Fresenius Medical Care-Adr0.66%
Halliburton Co0.65%
Perrigo PLC0.64%
Lululemon Athletica Inc0.60%
Douglas Emmett Inc0.55%

Only in DYNF

239 securities, 94.1% of DYNF by weight

Apple8.27%
NVIDIA7.83%
Microsoft4.78%
Amazon.com Inc4.00%
JPMorgan Chase & Co3.39%
Exxonmobil Holdings Corp3.18%
Broadcom Inc2.40%
Meta Platforms Class A2.37%
Bank of America2.13%
Alphabet Class A2.07%
Johnson & Johnson2.04%
Tesla Inc1.72%
Chevron1.71%
Alphabet Class C1.71%
Micron Technology1.70%
Travelers Companies1.60%
Cisco Systems Inc1.54%
Advanced Micro Devices1.54%
Eli Lilly1.52%
Citigroup1.35%
Caterpillar Inc1.31%
Parker-Hannifin1.28%
Lam Research1.26%
Walmart1.14%
Allstate Corp1.14%
Rtx1.12%
Duke Energy Corp1.07%
Berkshire Hathaway Inc Class B1.06%
Applied Material Inc1.05%
Goldman Sachs Group1.05%
Welltower0.92%
Verizon Communications Inc0.75%
Realty Income Reit0.73%
Palantir Technologies Class A0.73%
Netflix0.71%
Cme Group Class A0.71%
Amphenol Corp Class A0.70%
AT&T0.64%
American International Group0.62%
Space Exploration Technologies Cor0.58%
Hartford Insurance Group0.57%
Deere0.55%
Gilead Sciences0.54%
Trane Technologies PLC0.51%
Ge Vernova0.51%
Nextera Energy0.51%
AbbVie0.49%
Ge Aerospace0.48%
Valero Energy Corp0.47%
Intel Corporation0.46%

Weight gaps

All 23 Holdings in both funds, largest gap first.

Holding weights in CVAR and DYNF, widest gap first
Holding	More in CVARMore in DYNF	CVAR	DYNF
Humana IncHUM	CVAR +1.82 points	1.84%	0.02%
Dollar Gen Corp NewDG	CVAR +1.64 points	1.75%	0.11%
Accenture Plc-Cl AACN	CVAR +1.56 points	1.75%	0.19%
Biogen IncBIIB	CVAR +1.52 points	1.56%	0.04%
Intuit IncINTU	CVAR +1.36 points	1.63%	0.27%
Nike Inc -Cl BNKE	CVAR +1.01 points	1.02%	0.01%
Zimmer Biomet Holdings IncZBH	CVAR +0.91 points	0.91%	0.00%
Adobe Systems IncADBE	CVAR +0.89 points	1.14%	0.25%
Albemarle CorpALB	CVAR +0.85 points	0.86%	<0.01%
Cvs Health CorpCVS	CVAR +0.83 points	0.98%	0.15%
Medtronic PLCMDT	CVAR +0.77 points	1.10%	0.33%
Regeneron PharmaceuticalsREGN	CVAR +0.76 points	0.98%	0.22%
UnitedHealth Group IncUNH	CVAR +0.75 points	1.22%	0.47%
Cognizant Tech Solutions-ACTSH	CVAR +0.65 points	0.69%	0.04%
Target CorpTGT	CVAR +0.62 points	0.65%	0.03%
United Parcel Service-Cl BUPS	CVAR +0.54 points	0.55%	0.01%
Bristol-Myers Squibb CoBMY	CVAR +0.52 points	0.57%	0.05%
Pfizer IncPFE	CVAR +0.45 points	0.76%	0.30%
Newmont Goldcorp Corporation ComNEM	CVAR +0.43 points	1.05%	0.62%
Lockheed Martin CorpLMT	CVAR +0.40 points	0.63%	0.23%
Salesforce.com IncCRM	DYNF +0.28 points	1.29%	1.57%
Archer-Daniels-Midland CoADM	CVAR +0.28 points	0.34%	0.06%
Thermo Fisher Scientific IncTMO	DYNF +0.13 points	0.53%	0.66%

All 88 CVAR holdings⁠All 262 DYNF 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.

CVAR vs DYNF Cost

Overpaying CVAR vs DYNF

$11,178

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

CVAR 0.87%
$16,536
DYNF 0.26%
$5,358

Amount$10,000

Years30 years

Cost over time

CVAR 0.87%
DYNF 0.26%
Overpaying

Year by year

Year	CVAR	DYNF	Overpaying
10	$1,542	$473	$1,069
20	$5,830	$1,838	$3,992
30	$16,536	$5,358	$11,178

Expense ratio

0.87%CVAR
0.26%DYNF, cheaper

DYNF0.26%CVAR0.87%

0.00%2.89%

Middle half of US Active Equity funds
Median 0.68%

DYNF 18th cheapest of 121 funds

CVAR 90th cheapest of 121 funds

CVAR vs DYNF Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CVAR 1.34%, better; DYNF 0.84%
Payout (12M): CVAR $0.43; DYNF $0.56
Last payment: CVAR $0.43; DYNF $0.14
Ex-dividend: CVAR Dec 24, 2025; DYNF Sep 15, 2026
Paid on: CVAR No data; DYNF Sep 18, 2026
Frequency: CVAR Annual; DYNF Quarterly

Distribution history

Per share, 2019 to 2026, same scale for both

CVARAnnual · 4 paymentsAll CVAR payments⁠

DYNFQuarterly · 30 paymentsAll DYNF payments⁠

CVAR vs DYNF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CVAR 13.6%DYNF 13.1%, better
Return per unit of riskSharpe ratio, 3 years: CVAR 0.88DYNF 1.55, better
Worst fallMax drawdown, 5 years: CVAR −19.4%since Dec 2021DYNF −26.9%
Market sensitivityBeta, 5 years: CVAR 0.62DYNF 1.02; Market = 1

CVAR and DYNF in the news

All news⁠

ETF Filings
BlackRock files two Form 497Ks for iShares DYNF
Sep 7, 2026DYNF

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CVAR vs DYNF

In short

Stated mandate

Why people hold it

Worth knowing

How CVAR and DYNF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CVAR

Only in DYNF

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

BlackRock files two Form 497Ks for iShares DYNF

How CVAR and DYNF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CVAR

Only in DYNF

Weight gaps