DYNF vs MODL: Grades, Fees and Holdings Compared

iShares U.S. Equity Factor Rotation Active ETF

DYNFANYSE Arca

VictoryShares WestEnd U.S. Sector ETF

MODLANasdaq

Overlap

54.1%by weight

Expense ratio

DYNF −0.20pt a year

DYNF0.26%MODL0.46%

Avg volume · 30D

DYNF 45.8×the volume

DYNF2.25MMODL49.2K

3Y return · a year

DYNF +3.8pt

DYNF+24.9%MODL+21.1%

DYNF vs MODL Performance

Oct 31, 2025 – Nov 2, 2026

+10.7%DYNF+10.2%MODL

Expense ratio: DYNF 0.26%, better; MODL 0.46%
Fund size: DYNF $41.8B; MODL $1.07B
1Y total return: DYNF +10.7%, better; MODL +10.2%
Yield (12M): DYNF 0.84%, better; MODL 0.69%
Holdings: DYNF 264; MODL 361
Avg volume (30D): DYNF 2.25M sh, better; MODL 49.2K sh
NAV per share: DYNF $67.32; MODL $51.94
52W range

ETF.net Grade

Pillar letters and Scores for DYNF, MODL, with each pillar’s weight
Pillar	DYNF	MODL
Cost30% weight	A86Higher	A71
Mission25% weight	Not scored	Not scored
Risk15% weight	A71Higher	B66
Tradability15% weight	A99Higher	A78
Holdings10% weight	B65	A78Higher
Durability5% weight	A97Higher	A77

Rank among US Active Equity funds

How we build Categories ›

Same Category. DYNF and MODL 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 MODL 16th 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 16AFEACFidelity Enhanced U.S. All-Cap Equity ETFScore 72
Rank 16AMODLVictoryShares WestEnd U.S. Sector ETFScore 72
Rank 20AMSLCMorgan Stanley Pathway Large Cap Equity ETFScore 71

Our read on each fund

ETF.net Research

DYNFAiShares U.S. Equity Factor Rotation Active ETF

MODLAVictoryShares WestEnd U.S. Sector 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.

MODL Most active US equity funds argue about stocks. MODL argues about sectors: WestEnd's macro team owns four to six economic sectors at a time, names the ones it won't touch, and caps any single sector at 35% at purchase.

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.

MODL The Fund seeks long-term capital appreciation.

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.

MODL The rules are spelled out: four to six economic sectors at any given time, none above 35% of net assets at the time of purchase. You know the concentration ceiling before you own it.vcm.com
The distinctive move is the avoidance list. WestEnd names the sectors it sees facing the biggest headwinds and simply doesn't hold them, rather than owning a little of everything.vcm.com
0.49% a year for an actively rotated sector strategy, below the 0.65% typical of active US equity funds. Cheap is not the usual adjective for macro-driven allocation.
A billion-dollar-plus fund that distributes monthly, and it sits in the upper tier of a crowded active US equity field on our review.

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.

MODL Sector calls are the entire engine. Concentrating in a handful of sectors can mean sharper swings than a broadly diversified US portfolio, in either direction.vcm.com
Cheap for active, not cheap outright: strong peers like DFAU (0.12%) and AVLC (0.15%) deliver broad US equity for a fraction of the fee.
Launched in 2022, so the ETF's own live record is short next to the multi-decade histories of the index funds it competes with.

Full DYNF profile⁠

Full MODL profile⁠

DYNF vs MODL Holdings

How DYNF and MODL differ

Overlap by weight

54.1%

Shared holdings make up 81.2% of DYNF and 77.9% of MODL.

Level by level

Holdings165 in both54.1%
Sector11 Sectors72.8%
Asset classEquity100%
Countryby domicile99.5%

Sector

Sector weights in DYNF and MODL, widest gap first
Sector	More in DYNFMore in MODL	DYNF	MODL
Health Care	MODL +10.6 points	7.7%	18.3%
Utilities	MODL +8.9 points	1.8%	10.7%
Technology	DYNF +8.0 points	39.9%	31.9%
Energy	DYNF +5.3 points	5.3%	0.0%
Financials	DYNF +5.2 points	15.4%	10.2%
Communication	MODL +4.1 points	9.6%	13.7%
Materials	MODL +3.7 points	0.9%	4.6%
Industrials	DYNF +2.9 points	8.0%	5.1%
Consumer Staples	DYNF +2.2 points	2.2%	0.0%
Real Estate	DYNF +2.0 points	2.0%	0.0%
Consumer Discretionary	DYNF +1.4 points	7.0%	5.6%

Country, concentration and asset class

Country by domicile

Country weights in DYNF and MODL, widest gap first
Country	More in DYNFMore in MODL	DYNF	MODL
United States	DYNF +0.5 points	100.0%	99.5%
Other countries (4)	MODL +0.5 points	0.0%	0.5%

Concentration

Weight in the 10 largest Holdings

DYNF40.4%
MODL35.7%

Securities held

DYNF262
MODL360

Asset class

DYNF: Equity
MODL: Equity

Holdings

Only in DYNF97
In both165
Only in MODL195

Only in DYNF

97 securities, 18.5% of DYNF by weight

Exxonmobil Holdings Corp3.18%
Chevron1.71%
Caterpillar Inc1.31%
Parker-Hannifin1.28%
Walmart1.14%
Rtx1.12%
Welltower0.92%
Realty Income Reit0.73%
Deere0.55%
Trane Technologies PLC0.51%
Ge Vernova0.51%
Ge Aerospace0.48%
Valero Energy Corp0.47%
Eaton PLC0.43%
Medtronic PLC0.33%
Philip Morris International0.30%
Prologis Reit0.26%
Lockheed Martin0.23%
Phillips 660.23%
Costco Wholesale Corp0.22%
Procter & Gamble0.21%
Host Hotels & Resorts Reit0.19%
Accenture PLC Class A0.19%
Howmet Aerospace0.12%
Pepsico0.11%
Dollar General Corp0.11%
Northrop Grumman Corp0.11%
Woodward0.10%
Comfort Systems Usa0.09%
Five Below0.09%
Vertiv Holdings Class A0.08%
Caseys General Stores Inc0.08%
Crh Public Limited PLC0.08%
Ati0.08%
Royal Caribbean Group0.07%
Bloom Energy Class A0.07%
Coca-Cola0.07%
Neurocrine Biosciences0.06%
Archer Daniels Midland0.06%
Cummins Inc0.05%
Halozyme Therapeutics0.05%
Anglogold Ashanti PLC0.04%
Mastec Inc0.04%
Hubspot0.04%
Quanta Services Inc0.03%
L3HARRIS Technologies0.03%
Johnson Controls International PLC0.03%
Caci International Inc Class A0.03%
Target Corp0.03%
Ftai Aviation0.03%

Only in MODL

195 securities, 21.8% of MODL by weight

New Linde PLC1.10%
Southern Co0.87%
Constellation Energy Corp0.72%
Norfolk Southern Corp.0.50%
Dominion Energy Inc.0.47%
Moderna Inc0.43%
Entergy Corp.0.43%
Freeport-Mcmoran Inc0.42%
Delta Air Lines Inc0.39%
Vistra Corp0.37%
Ecolab Inc.0.36%
Sherwin-Williams Co0.35%
Consolidated Edison Inc.0.35%
Air Products and Chemical0.33%
Wec Energy Group0.31%
Berkshire Hathaway Inc0.31%
Public Service Enterprise0.30%
Natera Inc0.29%
Kla Corp0.25%
United Airlines Holdings0.25%
Ameren Corp.0.25%
Medtronic PLC0.24%
Atmos Energy Corp0.24%
PG&E Corp.0.23%
American Water Works Co.0.23%
Dte Energy Co.0.23%
Centerpoint Energy Inc.0.23%
Firstenergy Corp.0.22%
Ppl Corp.0.22%
BlackRock Funding Inc/De0.22%
Eversource Energy0.21%
Stryker Corp.0.21%
Spotify Technology SA0.20%
Accenture PLC0.19%
Chubb Limited0.18%
Comcast Corp0.18%
Elevance Health Inc0.18%
S&P Global Inc0.18%
Cms Energy Corp.0.18%
Nisource Inc.0.17%
Vulcan Materials Co.0.17%
T-Mobile Us Inc0.17%
Evergy Inc0.16%
Steel Dynamics Inc0.16%
Cigna Group/The0.15%
Southwest Airlines Co.0.15%
Alliant Energy Corp.0.15%
Xpo Inc0.14%
Agilent Technologies Inc0.14%
Martin Marietta Materials0.13%

Weight gaps

The 100 widest of 165 Holdings in both funds.

Holding weights in DYNF and MODL, widest gap first
Holding	More in DYNFMore in MODL	DYNF	MODL
AbbVieABBV	MODL +2.25 points	0.49%	2.74%
JPMorgan Chase & CoJPM	DYNF +2.22 points	3.39%	1.17%
AppleAAPL	DYNF +2.10 points	8.27%	6.17%
NVIDIANVDA	DYNF +2.00 points	7.83%	5.83%
Amazon.com IncAMZN	DYNF +1.88 points	4.00%	2.12%
Bank of AmericaBAC	DYNF +1.67 points	2.13%	0.46%
Alphabet Class AGOOGL	MODL +1.60 points	2.07%	3.67%
Travelers CompaniesTRV	DYNF +1.49 points	1.60%	0.11%
Alphabet Class CGOOG	MODL +1.49 points	1.71%	3.20%
SalesforceCRM	DYNF +1.35 points	1.57%	0.22%
Amgen IncAMGN	MODL +1.27 points	0.05%	1.32%
CitigroupC	DYNF +1.08 points	1.35%	0.27%
Allstate CorpALL	DYNF +1.05 points	1.14%	0.09%
Cisco Systems IncCSCO	DYNF +1.04 points	1.54%	0.50%
Union PacificUNP	MODL +1.02 points	0.15%	1.17%
Nextera EnergyNEE	MODL +0.90 points	0.51%	1.41%
Lam ResearchLRCX	DYNF +0.89 points	1.26%	0.37%
Eli LillyLLY	MODL +0.87 points	1.52%	2.39%
Johnson & JohnsonJNJ	DYNF +0.73 points	2.04%	1.31%
Merck & Co IncMRK	MODL +0.71 points	0.02%	0.73%
Goldman Sachs GroupGS	DYNF +0.71 points	1.05%	0.34%
Tesla IncTSLA	DYNF +0.70 points	1.72%	1.02%
Uber TechnologiesUBER	MODL +0.70 points	0.13%	0.83%
Vertex PharmaceuticalsVRTX	MODL +0.68 points	0.06%	0.74%
Applied Material IncAMAT	DYNF +0.67 points	1.05%	0.38%
Meta Platforms Class AMETA	MODL +0.66 points	2.37%	3.03%
Mastercard Class AMA	MODL +0.60 points	0.07%	0.67%
Gilead SciencesGILD	MODL +0.57 points	0.54%	1.11%
Cme Group Class ACME	DYNF +0.57 points	0.71%	0.14%
American International GroupAIG	DYNF +0.56 points	0.62%	0.06%
CsxCSX	MODL +0.54 points	0.09%	0.63%
Advanced Micro DevicesAMD	DYNF +0.53 points	1.54%	1.01%
Broadcom IncAVGO	DYNF +0.53 points	2.40%	1.87%
Hartford Insurance GroupHIG	DYNF +0.52 points	0.57%	0.05%
Visa Class AV	MODL +0.50 points	0.42%	0.92%
Micron TechnologyMU	DYNF +0.48 points	1.70%	1.22%
American Electric Power IncAEP	MODL +0.46 points	0.11%	0.57%
Amphenol Corp Class AAPH	DYNF +0.46 points	0.70%	0.24%
SempraSRE	MODL +0.46 points	<0.01%	0.46%
Xcel Energy IncXEL	MODL +0.40 points	<0.01%	0.40%
United Parcel Service Inc Class BUPS	MODL +0.36 points	0.01%	0.37%
DanaherDHR	MODL +0.35 points	0.06%	0.41%
Abbott LaboratoriesABT	MODL +0.34 points	0.02%	0.36%
Verizon Communications IncVZ	DYNF +0.33 points	0.75%	0.42%
AT&TT	DYNF +0.31 points	0.64%	0.33%
Walt DisneyDIS	MODL +0.30 points	0.13%	0.43%
American ExpressAXP	MODL +0.28 points	0.00%	0.28%
Booking HoldingsBKNG	DYNF +0.28 points	0.38%	0.10%
Home DepotHD	MODL +0.28 points	0.02%	0.30%
Duke Energy CorpDUK	DYNF +0.26 points	1.07%	0.81%
Regeneron PharmaceuticalsREGN	MODL +0.26 points	0.22%	0.48%
UnitedHealth GroupUNH	MODL +0.25 points	0.47%	0.72%
Western Digital CorpWDC	DYNF +0.24 points	0.40%	0.16%
Palantir Technologies Class APLTR	DYNF +0.23 points	0.73%	0.50%
Texas InstrumentTXN	MODL +0.22 points	0.12%	0.34%
ServicenowNOW	DYNF +0.22 points	0.35%	0.13%
CorningGLW	DYNF +0.21 points	0.33%	0.12%
Wells FargoWFC	MODL +0.21 points	0.12%	0.33%
General MotorsGM	DYNF +0.21 points	0.28%	0.07%
Bristol Myers SquibbBMY	MODL +0.20 points	0.05%	0.25%
Analog DevicesADI	MODL +0.20 points	0.05%	0.25%
Old Dominion Freight LineODFL	MODL +0.20 points	<0.01%	0.21%
Edison InternationalEIX	MODL +0.18 points	0.00%	0.18%
Exelon CorpEXC	MODL +0.18 points	0.21%	0.39%
Fedex CorpFDX	MODL +0.18 points	0.14%	0.32%
IntuitINTU	DYNF +0.16 points	0.27%	0.11%
Arista NetworksANET	MODL +0.16 points	0.06%	0.22%
BiogenBIIB	MODL +0.16 points	0.04%	0.20%
SandiskSNDK	MODL +0.15 points	0.05%	0.20%
Nrg Energy IncNRG	MODL +0.16 points	0.00%	0.16%
Morgan StanleyMS	MODL +0.16 points	0.13%	0.29%
Revolution MedicinesRVMD	MODL +0.15 points	0.04%	0.19%
NucorNUE	MODL +0.15 points	0.14%	0.29%
ProgressivePGR	DYNF +0.14 points	0.32%	0.18%
NetflixNFLX	DYNF +0.14 points	0.71%	0.57%
Incyte CorpINCY	MODL +0.13 points	0.00%	0.13%
Adobe IncADBE	DYNF +0.13 points	0.25%	0.12%
Pnc Financial Services GroupPNC	MODL +0.12 points	0.00%	0.12%
Palo Alto NetworksPANW	MODL +0.11 points	0.25%	0.36%
Crowdstrike Holdings Class ACRWD	MODL +0.12 points	0.19%	0.31%
TjxTJX	MODL +0.11 points	0.03%	0.14%
QualcommQCOM	MODL +0.11 points	0.10%	0.21%
Alnylam PharmaceuticalsALNY	MODL +0.11 points	0.01%	0.12%
Iqvia Holdings IncIQV	MODL +0.10 points	0.02%	0.12%
Intercontinental Exchange IncICE	MODL +0.10 points	0.02%	0.12%
Space Exploration Technologies CorSPCX	MODL +0.10 points	0.58%	0.68%
Intel CorporationINTC	DYNF +0.10 points	0.46%	0.36%
NewmontNEM	DYNF +0.09 points	0.62%	0.53%
MicrosoftMSFT	DYNF +0.09 points	4.78%	4.69%
Us BancorpUSB	DYNF +0.09 points	0.21%	0.12%
InsmedINSM	MODL +0.09 points	0.04%	0.13%
Illumina IncILMN	MODL +0.09 points	0.01%	0.10%
HumanaHUM	MODL +0.08 points	0.02%	0.10%
Intuitive SurgicalISRG	MODL +0.08 points	0.22%	0.30%
Cvs HealthCVS	MODL +0.08 points	0.15%	0.23%
Cboe Global MarketsCBOE	DYNF +0.07 points	0.12%	0.05%
Cloudflare Class ANET	MODL +0.08 points	0.03%	0.11%
International Business Machines CoIBM	MODL +0.08 points	0.22%	0.30%
MetlifeMET	MODL +0.07 points	0.00%	0.07%
Berkshire Hathaway Inc Class BBRK.B	DYNF +0.07 points	1.06%	0.99%

All 262 DYNF holdings⁠All 323 MODL 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 MODL Cost

Overpaying MODL vs DYNF

$3,872

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

DYNF 0.26%
$5,358
MODL 0.46%
$9,230

Amount$10,000

Years30 years

Cost over time

DYNF 0.26%
MODL 0.46%
Overpaying

Year by year

Year	DYNF	MODL	Overpaying
10	$473	$830	$357
20	$1,838	$3,195	$1,357
30	$5,358	$9,230	$3,872

Expense ratio

0.26%DYNF, cheaper
0.46%MODL

DYNF0.26%MODL0.46%

0.00%2.89%

Middle half of US Active Equity funds
Median 0.68%

DYNF 18th cheapest of 121 funds

MODL 37th cheapest of 121 funds

DYNF vs MODL Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DYNF 0.84%, better; MODL 0.69%
Payout (12M): DYNF $0.56; MODL $0.36
Last payment: DYNF $0.14; MODL $0.02
Ex-dividend: DYNF Sep 15, 2026; MODL Oct 8, 2026
Paid on: DYNF Sep 18, 2026; MODL Oct 9, 2026
Frequency: DYNF Quarterly; MODL Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

DYNFQuarterly · 15 paymentsAll DYNF payments⁠

MODLMonthly · 47 paymentsAll MODL payments⁠

DYNF vs MODL 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%MODL 11.9%, better
Return per unit of riskSharpe ratio, 3 years: DYNF 1.55, betterMODL 1.40
Worst fallMax drawdown, 5 years: DYNF −26.9%MODL −17.6%since Oct 2022
Market sensitivityBeta, 5 years: DYNF 1.02MODL 0.94; Market = 1

DYNF and MODL in the news

All news⁠

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

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DYNF vs MODL

In short

Stated mandate

Why people hold it

Worth knowing

How DYNF and MODL differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DYNF

Only in MODL

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 MODL differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DYNF

Only in MODL

Weight gaps