DSTL vs VONV: Grades, Fees and Holdings Compared

Distillate U.S. Fundamental Stability & Value ETF

DSTLCNYSE Arca

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

10.8%by weight

Expense ratio

VONV −0.33pt a year

DSTL0.39%VONV0.06%

Avg volume · 30D

VONV 9.0×the volume

DSTL86.2KVONV774K

5Y return · a year

VONV +0.2pt

DSTL+11.4%VONV+11.6%

DSTL vs VONV Performance

Nov 2, 2021 – Nov 2, 2026

+71.7%DSTL+72.9%VONV

Expense ratio: DSTL 0.39%; VONV 0.06%, better
Fund size: DSTL $2.14B; VONV $23.3B
1Y total return: DSTL +25.0%; VONV +28.9%, better
Yield (12M): DSTL 1.03%; VONV 1.53%, better
Holdings: DSTL 102; VONV 887
Avg volume (30D): DSTL 86.2K sh; VONV 774K sh, better
NAV per share: DSTL $69.57; VONV $113.44
52W range

ETF.net Grade

Pillar letters and Scores for DSTL, VONV, with each pillar’s weight
Pillar	DSTL	VONV
Cost30% weight	D34	A96Higher
Mission25% weight	C45	A100Higher
Risk15% weight	B61	A86Higher
Tradability15% weight	A74Higher	B60
Holdings10% weight	B61Higher	C49
Durability5% weight	B60	A93Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. DSTL 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 DSTL 63rd of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 63CBFORBarron's 400 ETFScore 50
Rank 63CDSTLDistillate U.S. Fundamental Stability & Value ETFScore 50
Rank 63CSPVMInvesco S&P 500 Value with Momentum ETFScore 50

Our read on each fund

ETF.net Research

DSTLCDistillate U.S. Fundamental Stability & Value ETF

VONVAVanguard Russell 1000 Value ETF

In short

DSTL Value, redefined by cash. DSTL screens large-cap America for low debt and steady cash flows, then buys the cheapest survivors on Distillate's normalized free-cash-flow measure rather than on P/E or book value.

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

DSTL The Fund seeks to track, before fees and expenses, the performance of the Distillate U.S. Fundamental Stability & Value 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

DSTL Values companies on normalized free cash flow against enterprise value instead of P/E or book value, an approach aimed at a market full of intangible-heavy businesses.distillatecapital.com
Quality gate comes first: it starts from roughly 500 profitable large caps, then screens out high debt and unstable cash flows before valuation enters the picture.distillatecapital.com
Positions are weighted by free cash flow generation and rebalanced quarterly, so size follows cash produced rather than market cap. Distributions are paid quarterly.distillatecapital.com
Live since 2018 and now a multi-billion-dollar fund, so the process has a real record rather than a backtest.

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

DSTL At 0.39% it costs more than plain-vanilla value funds such as VONV (0.06%) and VYM (0.04%). You are paying for the cash-flow research.
The benchmark is Distillate's own index, so outcomes ride on one firm's proprietary cash-flow model rather than a widely used public rulebook.distillatecapital.com
Concentrated by design: a slim slice of the large-cap universe, weighted by cash flow, so sector mix can look very different from the S&P 500.distillatecapital.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 DSTL profile⁠

Full VONV profile⁠

DSTL vs VONV Holdings

How DSTL and VONV differ

Overlap by weight

10.8%

Shared holdings make up 90.4% of DSTL and 10.8% of VONV.

Level by level

Holdings91 in both10.8%
Sector11 Sectors80.0%
Countryby domicile99.0%
Asset classEquity100%

Sector

Sector weights in DSTL and VONV, widest gap first
Sector	More in DSTLMore in VONV	DSTL	VONV
Health Care	DSTL +9.1 points	22.5%	13.4%
Financials	VONV +9.1 points	8.8%	17.9%
Industrials	DSTL +3.7 points	13.2%	9.5%
Communication	DSTL +3.6 points	7.0%	3.4%
Real Estate	VONV +3.5 points	0.0%	3.5%
Technology	DSTL +2.3 points	24.2%	21.9%
Consumer Staples	VONV +2.3 points	4.9%	7.2%
Utilities	VONV +2.2 points	1.2%	3.4%
Materials	VONV +1.8 points	1.5%	3.3%
Consumer Discretionary	DSTL +1.2 points	11.6%	10.4%
Energy	VONV +1.2 points	5.0%	6.2%

Country, concentration and asset class

Country by domicile

Country weights in DSTL and VONV, widest gap first
Country	More in DSTLMore in VONV	DSTL	VONV
United States	VONV +1.0 points	99.0%	100.0%
China	DSTL +1.0 points	1.0%	0.0%

Concentration

Weight in the 10 largest Holdings

DSTL18.0%
VONV29.8%

Securities held

DSTL101
VONV883

Asset class

DSTL: Equity
VONV: Equity

Holdings

Only in DSTL10
In both91
Only in VONV792

Only in DSTL

10 securities, 9.6% of DSTL by weight

Booking Holdings Inc1.44%
Autodesk Inc1.14%
GoDaddy Inc1.08%
Vistra Corp1.03%
Gartner Inc1.00%
TE Connectivity PLC1.00%
Halozyme Therapeutics Inc0.89%
Icon PLC0.79%
AppLovin Corp0.78%
First American Government Obligations Fund 12/01/20310.39%

Only in VONV

792 securities, 89.0% of VONV by weight

Amazon.com Inc6.08%
Apple Inc6.06%
Microsoft Corp5.23%
Berkshire Hathaway Inc2.55%
JPMorgan Chase & Co2.43%
ExxonMobil Holdings Corp1.84%
Johnson & Johnson1.75%
Intel Corp1.51%
Cisco Systems Inc1.17%
Walmart Inc1.14%
Chevron Corp1.04%
Procter & Gamble Co/The0.93%
Bank of America Corp0.90%
Philip Morris International Inc0.82%
Coca-Cola Co/The0.81%
Meta Platforms Inc0.80%
Thermo Fisher Scientific Inc0.69%
RTX Corp0.69%
Goldman Sachs Group Inc/The0.67%
Wells Fargo & Co0.67%
Costco Wholesale Corp0.62%
Linde PLC0.60%
Morgan Stanley0.58%
International Business Machines Corp0.57%
QUALCOMM Inc0.53%
Verizon Communications Inc0.53%
Gilead Sciences Inc0.51%
Walt Disney Co/The0.50%
Citigroup Inc0.50%
Analog Devices Inc0.49%
Abbott Laboratories0.47%
Welltower Inc0.46%
Deere & Co0.46%
McDonald's Corp0.45%
AT&T Inc0.45%
Pfizer Inc0.45%
Blackrock Inc0.44%
NextEra Energy Inc0.43%
ConocoPhillips0.42%
PepsiCo Inc0.42%
Union Pacific Corp0.41%
Charles Schwab Corp/The0.41%
Dell Technologies Inc0.39%
Eaton Corp PLC0.39%
Danaher Corp0.38%
Vertex Pharmaceuticals Inc0.36%
Bristol-Myers Squibb Co0.35%
Prologis Inc0.34%
Newmont Corp0.33%
Progressive Corp/The0.33%

Weight gaps

All 91 Holdings in both funds, largest gap first.

Holding weights in DSTL and VONV, widest gap first
Holding	More in DSTLMore in VONV	DSTL	VONV
Accenture PLCACN	DSTL +1.91 points	2.22%	0.31%
Marathon Petroleum CorpMPC	DSTL +1.57 points	1.73%	0.16%
Comcast CorpCMCSA	DSTL +1.56 points	1.77%	0.21%
Salesforce IncCRM	DSTL +1.35 points	1.85%	0.50%
Adobe IncADBE	DSTL +1.34 points	1.42%	0.08%
Regeneron Pharmaceuticals IncREGN	DSTL +1.33 points	1.54%	0.21%
PayPal Holdings IncPYPL	DSTL +1.29 points	1.37%	0.08%
Diamondback Energy IncFANG	DSTL +1.24 points	1.34%	0.10%
Intuit IncINTU	DSTL +1.21 points	1.35%	0.14%
Altria Group IncMO	DSTL +1.20 points	1.51%	0.31%
Lowe's Cos IncLOW	DSTL +1.20 points	1.48%	0.28%
Cigna Group/TheCI	DSTL +1.18 points	1.37%	0.19%
T-Mobile US IncTMUS	DSTL +1.12 points	1.34%	0.22%
McKesson CorpMCK	DSTL +1.10 points	1.12%	0.02%
UnitedHealth Group IncUNH	DSTL +1.08 points	1.99%	0.91%
Cardinal Health IncCAH	DSTL +1.07 points	1.15%	0.08%
Uber Technologies IncUBER	DSTL +1.08 points	1.41%	0.33%
Permian Resources CorpPR	DSTL +1.07 points	1.11%	0.04%
Arthur J Gallagher & CoAJG	DSTL +1.07 points	1.23%	0.16%
Automatic Data Processing IncADP	DSTL +1.05 points	1.23%	0.18%
FedEx CorpFDX	DSTL +1.04 points	1.21%	0.17%
Zoetis IncZTS	DSTL +1.03 points	1.05%	0.02%
Marsh & McLennan Cos IncMRSH	DSTL +1.02 points	1.25%	0.23%
Tyler Technologies IncTYL	DSTL +0.97 points	1.01%	0.04%
Carlisle Cos IncCSL	DSTL +0.95 points	0.98%	0.03%
Constellation Brands IncSTZ	DSTL +0.94 points	0.99%	0.05%
Intercontinental Exchange IncICE	DSTL +0.94 points	1.17%	0.23%
Best Buy Co IncBBY	DSTL +0.92 points	0.97%	0.05%
Omnicom Group IncOMC	DSTL +0.91 points	0.97%	0.06%
Merck & Co IncMRK	DSTL +0.90 points	1.89%	0.99%
Sysco CorpSYY	DSTL +0.89 points	0.94%	0.05%
Masco CorpMAS	DSTL +0.88 points	0.92%	0.04%
CME Group IncCME	DSTL +0.88 points	1.14%	0.26%
United Therapeutics CorpUTHR	DSTL +0.88 points	0.94%	0.06%
Cognizant Technology Solutions CorpCTSH	DSTL +0.87 points	0.94%	0.07%
DR Horton IncDHI	DSTL +0.87 points	0.96%	0.09%
EPAM Systems IncEPAM	DSTL +0.86 points	0.88%	0.02%
Tenet Healthcare CorpTHC	DSTL +0.85 points	0.91%	0.06%
PulteGroup IncPHM	DSTL +0.84 points	0.90%	0.06%
Leidos Holdings IncLDOS	DSTL +0.84 points	0.88%	0.04%
Crown Holdings IncCCK	DSTL +0.83 points	0.86%	0.03%
FactSet Research Systems IncFDS	DSTL +0.82 points	0.85%	0.03%
Allegion plcALLE	DSTL +0.81 points	0.85%	0.04%
A O Smith CorpAOS	DSTL +0.81 points	0.83%	0.02%
HubSpot IncHUBS	DSTL +0.82 points	0.82%	<0.01%
AbbVie IncABBV	DSTL +0.81 points	1.98%	1.17%
Aon PLCAON	DSTL +0.81 points	0.97%	0.16%
Avery Dennison CorpAVY	DSTL +0.80 points	0.84%	0.04%
Deckers Outdoor CorpDECK	DSTL +0.80 points	0.83%	0.03%
Fox CorpFOXA	DSTL +0.80 points	0.83%	0.03%
Somnigroup International IncSGI	DSTL +0.78 points	0.81%	0.03%
Neurocrine Biosciences IncNBIX	DSTL +0.77 points	0.78%	<0.01%
Acuity IncAYI	DSTL +0.76 points	0.79%	0.03%
Kroger Co/TheKR	DSTL +0.76 points	0.85%	0.09%
Toll Brothers IncTOL	DSTL +0.77 points	0.80%	0.03%
Globus Medical IncGMED	DSTL +0.76 points	0.78%	0.02%
Align Technology IncALGN	DSTL +0.75 points	0.78%	0.03%
SS&C Technologies Holdings IncSSNC	DSTL +0.76 points	0.80%	0.04%
NVR IncNVR	DSTL +0.75 points	0.78%	0.03%
Corpay IncCPAY	DSTL +0.75 points	0.79%	0.04%
General Dynamics CorpGD	DSTL +0.75 points	0.98%	0.23%
Brown & Brown IncBRO	DSTL +0.74 points	0.79%	0.05%
Copart IncCPRT	DSTL +0.74 points	0.80%	0.06%
ON Semiconductor CorpON	DSTL +0.73 points	0.81%	0.08%
Match Group IncMTCH	DSTL +0.72 points	0.75%	0.03%
TransUnionTRU	DSTL +0.73 points	0.76%	0.03%
Lennox International IncLII	DSTL +0.72 points	0.74%	0.02%
CF Industries Holdings IncCF	DSTL +0.71 points	0.76%	0.05%
Boston Scientific CorpBSX	DSTL +0.71 points	0.89%	0.18%
CDW Corp/DECDW	DSTL +0.71 points	0.75%	0.04%
PACCAR IncPCAR	DSTL +0.70 points	0.86%	0.16%
Owens CorningOC	DSTL +0.70 points	0.73%	0.03%
Incyte CorpINCY	DSTL +0.70 points	0.76%	0.06%
Broadridge Financial Solutions IncBR	DSTL +0.69 points	0.74%	0.05%
Toro Co/TheTTC	DSTL +0.69 points	0.71%	0.02%
TechnipFMC PLCFTI	DSTL +0.69 points	0.73%	0.04%
Textron IncTXT	DSTL +0.68 points	0.72%	0.04%
Paychex IncPAYX	DSTL +0.67 points	0.76%	0.09%
Knight-Swift Transportation Holdings IncKNX	DSTL +0.65 points	0.68%	0.03%
Amdocs LtdDOX	DSTL +0.64 points	0.66%	0.02%
Darling Ingredients IncDAR	DSTL +0.61 points	0.64%	0.03%
Snap-on IncSNA	DSTL +0.61 points	0.66%	0.05%
Zoom Communications IncZM	DSTL +0.60 points	0.67%	0.07%
BioMarin Pharmaceutical IncBMRN	DSTL +0.60 points	0.63%	0.03%
Jazz Pharmaceuticals PLCJAZZ	DSTL +0.60 points	0.64%	0.04%
BorgWarner IncBWA	DSTL +0.60 points	0.63%	0.03%
ResMed IncRMD	DSTL +0.59 points	0.68%	0.09%
Universal Health Services IncUHS	DSTL +0.60 points	0.62%	0.02%
Graco IncGGG	DSTL +0.59 points	0.62%	0.03%
Royal Gold IncRGLD	DSTL +0.59 points	0.64%	0.05%
Skyworks Solutions IncSWKS	DSTL +0.47 points	0.51%	0.04%

All 102 DSTL 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.

DSTL vs VONV Cost

Overpaying DSTL vs VONV

$6,628

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

DSTL 0.39%
$7,898
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

DSTL 0.39%
VONV 0.06%
Overpaying

Year by year

Year	DSTL	VONV	Overpaying
10	$705	$110	$595
20	$2,725	$432	$2,293
30	$7,898	$1,270	$6,628

Expense ratio

0.39%DSTL
0.06%VONV, cheaper

VONV0.06%DSTL0.39%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VONV 4th cheapest of 99 funds

DSTL 64th cheapest of 99 funds

DSTL vs VONV Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DSTL 1.03%; VONV 1.53%, better
Payout (12M): DSTL $0.73; VONV $1.74
Last payment: DSTL $0.17; VONV $0.42
Ex-dividend: DSTL Sep 24, 2026; VONV Sep 23, 2026
Paid on: DSTL Sep 25, 2026; VONV Sep 25, 2026
Frequency: DSTL Quarterly; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DSTLQuarterly · 26 paymentsAll DSTL payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

DSTL vs VONV Risk

Fall from peak · 5 years

DSTL
VONV

Risk facts

VolatilityStd dev, 3 years: DSTL 14.8%VONV 12.1%, better
Return per unit of riskSharpe ratio, 3 years: DSTL 0.94VONV 1.43, better
Worst fallMax drawdown, 5 years: DSTL −20.1%VONV −18.9%, better
Market sensitivityBeta, 5 years: DSTL 0.71VONV 0.85; Market = 1

DSTL and VONV in the news

All news⁠

Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026DSTLVONV
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

Popular comparisons

DSTLCvsILCVA
Distillate U.S. Fundamental Stability & Value ETF · iShares Morningstar Value ETF
Expense ratio
0.39% · 0.04%
Category
VONVAvsILCVA
Vanguard Russell 1000 Value ETF · iShares Morningstar Value ETF
Expense ratio
0.06% · 0.04%
Category
DSTLCvsVYMA
Distillate U.S. Fundamental Stability & Value ETF · Vanguard High Dividend Yield ETF
Expense ratio
0.39% · 0.04%
Category
VONVAvsVYMA
Vanguard Russell 1000 Value ETF · Vanguard High Dividend Yield ETF
Expense ratio
0.06% · 0.04%
Category
DSTLCvsIMCVA
Distillate U.S. Fundamental Stability & Value ETF · iShares Morningstar Mid-Cap Value ETF
Expense ratio
0.39% · 0.06%
Category
VONVAvsIMCVA
Vanguard Russell 1000 Value ETF · iShares Morningstar Mid-Cap Value ETF
Expense ratio
0.06% · 0.06%
Category

DSTL vs VONV

In short

Stated mandate

Why people hold it

Worth knowing

How DSTL and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DSTL

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 DSTL and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DSTL

Only in VONV

Weight gaps