DYNF vs LDRX: Grades, Fees and Holdings Compared

iShares U.S. Equity Factor Rotation Active ETF

DYNFANYSE Arca

SGI Enhanced Market Leaders ETF

LDRXCNasdaq

Overlap

67.0%by weight

Expense ratio

DYNF −0.33pt a year

DYNF0.26%LDRX0.59%

Avg volume · 30D

DYNF 454.7×the volume

DYNF2.28MLDRX5.02K

DYNF vs LDRX Performance

Nov 7, 2025 – Nov 9, 2026

+12.4%DYNF+11.1%LDRX

Expense ratio: DYNF 0.26%, better; LDRX 0.59%
Fund size: DYNF $40.6B; LDRX $243M
1Y total return: DYNF +12.4%, better; LDRX +11.1%
Yield (12M): DYNF 0.84%; LDRX 1.00%, better
Holdings: DYNF 275; LDRX 101
Avg volume (30D): DYNF 2.28M sh, better; LDRX 5.02K sh
NAV per share: DYNF $64.97; LDRX $34.85
52W range

ETF.net Grade

Pillar letters and Scores for DYNF, LDRX, with each pillar’s weight
Pillar	DYNF	LDRX
Cost30% weight	A86Higher	B57
Mission25% weight	Not scored	Not scored
Risk15% weight	B68Higher	C52
Tradability15% weight	A98Higher	D35
Holdings10% weight	A70Higher	C45
Durability5% weight	A97Higher	B61

Rank among US Active Equity funds

How we build Categories ›

Same Category. DYNF and LDRX 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 LDRX 61st 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 4ALCTUiShares U.S. Carbon Transition Readiness Aware Active ETFScore 83
Rank 61CBCHPPrincipal Focused Blue Chip ETFScore 50
Rank 61CLDRXSGI Enhanced Market Leaders ETFScore 50
Rank 61CSSUSStrategy Shares Day Hagan Smart Sector ETFScore 50

Our read on each fund

ETF.net Research

DYNFAiShares U.S. Equity Factor Rotation Active ETF

LDRXCSGI Enhanced Market Leaders ETF

In short

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.

LDRX A 1976 swap fund reborn: the Chestnut Street Exchange Fund was reorganized into this active ETF in 2025. Large-cap "market leaders" plus an overlay that sells deep out-of-the-money puts and calls expiring in 1-7 days, for 0.59% a year.

Stated mandate

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

LDRX Seeks capital appreciation and current income. It actively manages a portfolio concentrated in large-capitalization companies and uses short-dated, deep-out-of-the-money put and call writing to generate additional income.

Why people hold it

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.

LDRX 0.59% a year, gross and net, no waiver doing the work. That sits below the median fee for active US equity funds.
The overlay writes deep out-of-the-money puts and calls expiring in 1-7 days, collecting premium on contracts meant to expire worthless. Pays quarterly.sec.gov
Real pedigree: the 1976 Chestnut Street Exchange Fund, a California limited partnership, became this ETF in a 2025 reorganization structured as tax-free.sec.gov sec.gov 2
The stock sleeve keeps at least 80% in Russell 1000 or S&P 500 names, screened on earnings quality, debt and valuation.sec.gov

Worth knowing

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.

LDRX One of the more thinly traded funds in its peer group, which can show up as wider bid-ask spreads.
Short calls trim upside in a fast rally; short puts add exposure in a sharp drop. Deep strikes make that less likely, not impossible.sec.gov
The current strategy only began in May 2025, so the live record is short and earlier returns came from the predecessor's different approach.sec.gov

Full DYNF profile⁠

Full LDRX profile⁠

DYNF vs LDRX Holdings

How DYNF and LDRX differ

Overlap by weight

67.0%

Shared holdings make up 96.2% of LDRX and 78.7% of DYNF.

Level by level

Holdings84 in both67.0%
Sector11 Sectors88.0%
Asset classStocks100%
Countryby domicile99.98%

Sector

Sector weights in DYNF and LDRX, widest gap first
Sector	Gap	DYNF	LDRX
Technology	LDRX +6.2 points	37.2%	43.4%
Financials	DYNF +4.0 points	15.7%	11.7%
Industrials	DYNF +3.1 points	7.6%	4.5%
Communication	LDRX +2.6 points	9.2%	11.8%
Consumer Discretionary	LDRX +2.2 points	7.8%	10.0%
Real Estate	DYNF +2.0 points	2.2%	0.2%
Energy	DYNF +1.7 points	4.4%	2.7%
Health Care	LDRX +0.9 points	9.2%	10.1%
Utilities	DYNF +0.8 points	1.6%	0.8%
Materials	DYNF +0.4 points	0.9%	0.5%
Consumer Staples	LDRX +0.2 points	4.2%	4.4%

Country, concentration and asset class

Country by domicile

Country weights in DYNF and LDRX, widest gap first
Country	More in DYNFMore in LDRX	Gap	DYNF	LDRX
United States		Same weight	100.0%	100.0%
Brazil		Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

DYNF38.8%
LDRX54.3%

Securities held

DYNF273
LDRX101

Asset class

DYNF: Stocks
LDRX: Stocks

Holdings

Only in DYNF189
In both84
Only in LDRX17

Only in DYNF

189 securities, 21.3% of DYNF by weight

Alphabet Class C1.81%
Travelers Companies1.52%
Parker-Hannifin1.17%
Allstate Corp1.15%
Welltower0.91%
Realty Income Reit0.79%
Newmont0.69%
Cme Group Class A0.67%
American International Group0.61%
Amphenol Corp Class A0.59%
Hartford Insurance Group0.58%
Trane Technologies PLC0.52%
Valero Energy Corp0.42%
Eaton PLC0.41%
Crowdstrike Holdings Class A0.34%
Corning0.30%
Western Digital Corp0.29%
Prologis Reit0.27%
Space Exploration Technologies Cor0.27%
Philip Morris International0.25%
Applovin Class A0.25%
Marvell Technology0.24%
Regeneron Pharmaceuticals0.23%
Mckesson Corp0.22%
Seagate Technology Holdings PLC0.22%
Progressive0.21%
Exelon Corp0.19%
Phillips 660.18%
Hca Healthcare0.17%
Snowflake0.15%
Lumentum Holdings0.15%
Cboe Global Markets0.13%
Boston Scientific0.13%
Howmet Aerospace0.13%
Dollar General Corp0.12%
Fortinet0.11%
Nucor0.11%
United Therapeutics0.11%
Host Hotels & Resorts Reit0.11%
Comfort Systems Usa0.11%
Vertex Pharmaceuticals0.10%
Northrop Grumman Corp0.10%
Cloudflare Class A0.10%
Nike Class B0.10%
Woodward0.10%
Datadog Inc Class A0.10%
Workday Class A0.09%
Five Below0.09%
Csx0.09%
Crh Public Limited PLC0.09%

Only in LDRX

17 securities, 4.2% of LDRX by weight

iShares S&P 100 ETF0.52%
Linde PLC0.47%
Blackrock Inc0.37%
ConocoPhillips0.33%
Boeing Co/The0.30%
Starbucks Corp0.27%
Lowe's Cos Inc0.26%
Southern Co/The0.21%
Comcast Corp0.20%
3M Co0.20%
American Tower Corp0.19%
Emerson Electric Co0.19%
General Dynamics Corp0.19%
Mondelez International Inc0.17%
T-Mobile US Inc0.15%
First American Government Obligations Fund0.09%
Spy Us 11/13/26 P5700.05%

Weight gaps

All 84 Holdings in both funds, largest gap first.

Holding weights in DYNF and LDRX, widest gap first
Holding	Gap	DYNF	LDRX
Alphabet Class AGOOGL	LDRX +4.60 points	2.18%	6.78%
MicrosoftMSFT	LDRX +3.46 points	5.04%	8.50%
NVIDIANVDA	LDRX +2.81 points	7.07%	9.88%
AppleAAPL	LDRX +2.69 points	8.14%	10.82%
Amazon.com IncAMZN	LDRX +1.25 points	4.41%	5.66%
Bank of AmericaBAC	DYNF +1.19 points	1.91%	0.72%
JPMorgan Chase & CoJPM	DYNF +1.11 points	3.09%	1.98%
SalesforceCRM	DYNF +1.05 points	1.42%	0.37%
Mastercard Class AMA	LDRX +1.01 points	0.15%	1.16%
Exxonmobil Holdings CorpXOM	DYNF +0.89 points	2.31%	1.42%
Broadcom IncAVGO	LDRX +0.89 points	2.21%	3.10%
Visa Class AV	LDRX +0.87 points	0.66%	1.53%
CitigroupC	DYNF +0.83 points	1.30%	0.47%
Duke Energy CorpDUK	DYNF +0.78 points	1.00%	0.22%
Berkshire Hathaway Inc Class BBRK.B	LDRX +0.78 points	1.47%	2.25%
Merck & Co IncMRK	LDRX +0.72 points	0.05%	0.77%
Eli LillyLLY	LDRX +0.72 points	1.55%	2.27%
AbbVieABBV	LDRX +0.56 points	0.54%	1.10%
Tesla IncTSLA	LDRX +0.54 points	1.60%	2.14%
Meta Platforms Class AMETA	LDRX +0.53 points	2.39%	2.92%
ChevronCVX	DYNF +0.53 points	1.42%	0.89%
RtxRTX	DYNF +0.51 points	1.06%	0.55%
Lam ResearchLRCX	DYNF +0.50 points	1.03%	0.53%
Wells FargoWFC	LDRX +0.50 points	0.09%	0.59%
Caterpillar IncCAT	DYNF +0.49 points	1.05%	0.56%
Home DepotHD	LDRX +0.48 points	0.27%	0.75%
Johnson & JohnsonJNJ	DYNF +0.48 points	1.89%	1.41%
Medtronic PLCMDT	DYNF +0.43 points	0.72%	0.29%
Coca-ColaKO	LDRX +0.44 points	0.32%	0.76%
Texas InstrumentTXN	LDRX +0.42 points	0.11%	0.53%
Morgan StanleyMS	LDRX +0.41 points	0.09%	0.50%
Goldman Sachs GroupGS	DYNF +0.40 points	0.99%	0.59%
American ExpressAXP	LDRX +0.38 points	0.00%	0.38%
Amgen IncAMGN	LDRX +0.37 points	0.12%	0.49%
Cisco Systems IncCSCO	DYNF +0.36 points	1.17%	0.81%
Applied Material IncAMAT	DYNF +0.35 points	0.90%	0.55%
Verizon Communications IncVZ	DYNF +0.33 points	0.74%	0.41%
Micron TechnologyMU	LDRX +0.31 points	1.37%	1.68%
Abbott LaboratoriesABT	LDRX +0.30 points	0.10%	0.40%
Arista NetworksANET	LDRX +0.27 points	0.11%	0.38%
International Business Machines CoIBM	LDRX +0.25 points	0.25%	0.50%
QualcommQCOM	LDRX +0.25 points	0.12%	0.37%
UnitedHealth GroupUNH	LDRX +0.24 points	0.55%	0.79%
Bristol Myers SquibbBMY	LDRX +0.22 points	0.05%	0.27%
DanaherDHR	LDRX +0.21 points	0.10%	0.31%
OracleORCL	LDRX +0.21 points	0.25%	0.46%
NetflixNFLX	DYNF +0.20 points	0.75%	0.55%
Walt DisneyDIS	LDRX +0.20 points	0.24%	0.44%
Ge AerospaceGE	LDRX +0.19 points	0.53%	0.72%
United Parcel Service Inc Class BUPS	LDRX +0.18 points	0.01%	0.19%
Booking HoldingsBKNG	DYNF +0.18 points	0.43%	0.25%
Mcdonalds CorpMCD	LDRX +0.18 points	0.25%	0.43%
Bank of New York Mellon CorpBNY	LDRX +0.17 points	0.04%	0.21%
Adobe IncADBE	DYNF +0.18 points	0.35%	0.17%
ServicenowNOW	DYNF +0.18 points	0.41%	0.23%
Charles SchwabSCHW	LDRX +0.17 points	0.19%	0.36%
AT&TT	DYNF +0.17 points	0.48%	0.31%
Thermo Fisher ScientificTMO	DYNF +0.15 points	0.68%	0.53%
Union PacificUNP	LDRX +0.15 points	0.20%	0.35%
Intel CorporationINTC	LDRX +0.15 points	0.43%	0.58%
Advanced Micro DevicesAMD	LDRX +0.15 points	1.42%	1.57%
Capital One Financial CorpCOF	LDRX +0.14 points	0.14%	0.28%
Palo Alto NetworksPANW	LDRX +0.12 points	0.40%	0.52%
IntuitINTU	DYNF +0.12 points	0.30%	0.18%
Gilead SciencesGILD	DYNF +0.11 points	0.55%	0.44%
DeereDE	DYNF +0.11 points	0.47%	0.36%
Cvs HealthCVS	LDRX +0.10 points	0.15%	0.25%
Palantir Technologies Class APLTR	LDRX +0.09 points	0.69%	0.78%
Intuitive SurgicalISRG	LDRX +0.09 points	0.26%	0.35%
Accenture PLC Class AACN	LDRX +0.08 points	0.26%	0.34%
WalmartWMT	LDRX +0.07 points	1.11%	1.18%
SandiskSNDK	LDRX +0.05 points	0.21%	0.26%
Uber TechnologiesUBER	LDRX +0.05 points	0.21%	0.26%
General MotorsGM	DYNF +0.04 points	0.21%	0.17%
Dell Technologies Inc Class CDELL	LDRX +0.04 points	0.18%	0.22%
PepsicoPEP	LDRX +0.05 points	0.35%	0.40%
PfizerPFE	LDRX +0.04 points	0.30%	0.34%
Costco Wholesale CorpCOST	LDRX +0.04 points	0.92%	0.96%
Us BancorpUSB	LDRX +0.04 points	0.17%	0.21%
Ge VernovaGEV	DYNF +0.02 points	0.47%	0.45%
Procter & GamblePG	DYNF +0.03 points	0.83%	0.80%
Nextera EnergyNEE	LDRX +0.02 points	0.37%	0.39%
Lockheed MartinLMT	LDRX +0.02 points	0.21%	0.23%
Fedex CorpFDX	Same weight	0.15%	0.15%

All 273 DYNF holdings⁠All LDRX 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.

DYNF vs LDRX Cost

Overpaying LDRX vs DYNF

$6,277

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

DYNF 0.26%
$5,358
LDRX 0.59%
$11,635

Amount$10,000

Years30 years

Cost over time

DYNF 0.26%
LDRX 0.59%
Overpaying

Year by year

Year	DYNF	LDRX	Overpaying
10	$473	$1,058	$585
20	$1,838	$4,051	$2,213
30	$5,358	$11,635	$6,277

Expense ratio

0.26%DYNF, cheaper
0.59%LDRX

DYNF0.26%LDRX0.59%

0.00%2.89%

Middle half of US Active Equity funds
Median 0.68%

DYNF 18th cheapest of 121 funds

LDRX 54th cheapest of 121 funds

DYNF vs LDRX Dividends

Last 12 months to Nov 9, 2026

Yield (12M): DYNF 0.84%; LDRX 1.00%, better
Payout (12M): DYNF $0.56; LDRX $0.36
Last payment: DYNF $0.14; LDRX $0.04
Ex-dividend: DYNF Sep 15, 2026; LDRX Sep 28, 2026
Paid on: DYNF Sep 18, 2026; LDRX Sep 29, 2026
Frequency: DYNF Quarterly; LDRX Quarterly

Distribution history

Per share, 2019 to 2026, same scale for both

DYNFQuarterly · 30 paymentsAll DYNF payments⁠

LDRXQuarterly · 6 paymentsAll LDRX payments⁠

DYNF vs LDRX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DYNF 13.1%LDRX 14.0%since Jun 2025
Return per unit of riskSharpe ratio, 3 years: DYNF 1.55LDRX 1.17since Jun 2025
Worst fallMax drawdown, 5 years: DYNF −26.9%LDRX −10.6%since May 2025
Market sensitivityBeta, 5 years: DYNF 1.02LDRX 1.16; Market = 1

DYNF and LDRX in the news

All news⁠

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

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DYNF vs LDRX

In short

Stated mandate

Why people hold it

Worth knowing

How DYNF and LDRX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DYNF

Only in LDRX

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 DYNF and LDRX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DYNF

Only in LDRX

Weight gaps