EBIT vs VTWO: Grades, Fees and Holdings Compared

Harbor AlphaEdge Small Cap Earners ETF (EBIT)

EBITCNYSE Arca

Vanguard Russell 2000 ETF

VTWOANasdaq

Overlap

37.7%by weight

Expense ratio

VTWO −0.23pt a year

EBIT0.29%VTWO0.06%

Avg volume · 30D

VTWO 2720.7×the volume

EBIT533VTWO1.45M

EBIT vs VTWO Performance

Oct 31, 2025 – Oct 30, 2026

+19.1%EBIT+14.8%VTWO

Expense ratio: EBIT 0.29%; VTWO 0.06%, better
Fund size: EBIT $13M; VTWO $17.3B
1Y total return: EBIT +19.1%, better; VTWO +14.8%
Yield (12M): EBIT 1.72%, better; VTWO 1.20%
Holdings: EBIT 594; VTWO 2000
Avg volume (30D): EBIT 533 sh; VTWO 1.45M sh, better
NAV per share: EBIT $38.92; VTWO $112.88
52W range

ETF.net Grade

Pillar letters and Scores for EBIT, VTWO, with each pillar’s weight
Pillar	EBIT	VTWO
Cost30% weight	D25	A75Higher
Mission25% weight	A89	A100Higher
Risk15% weight	A74Higher	D34
Tradability15% weight	F18	C54Higher
Holdings10% weight	D38	A70Higher
Durability5% weight	F20	A83Higher

Rank among US Small-Cap funds

How we build Categories ›

Same Category. EBIT and VTWO are both graded against the same 16 US Small-Cap funds, so their Grades compare head to head.

US Small-Cap⁠

Category · 16 funds

See all 16 ›

VTWO ranks 4th and EBIT 11th of 16 funds in the US Small-Cap Category.

Rank 1ASCHASchwab U.S. Small-Cap ETFScore 81
Rank 2AVBVanguard Morningstar Small-Cap ETFScore 77
Rank 3ABKSEBNY Mellon US Small Cap Core Equity ETFScore 72
Rank 4AVTWOVanguard Russell 2000 ETFScore 71
Rank 5ASMMDiShares Russell 2500 ETFScore 69
Rank 10BBBSCJPMorgan BetaBuilders U.S. Small Cap Equity ETFScore 61
Rank 11CEBITHarbor AlphaEdge Small Cap Earners ETF (EBIT)Score 48
Rank 12CFDMFirst Trust Dow Jones Select MicroCap Index FundScore 44

Our read on each fund

ETF.net Research

EBITCHarbor AlphaEdge Small Cap Earners ETF (EBIT)

VTWOAVanguard Russell 2000 ETF

In short

EBIT Harbor skipped the licensed benchmarks and built its own small-cap index, and EBIT is the wrapper. Roughly 600 small caps, house rules, priced a shade above the plain-vanilla crowd.

VTWO The Russell 2000 is the small-cap benchmark every headline quotes. VTWO is Vanguard's cheap seat on it: about 2,000 small US companies for 0.06% a year, a fraction of the fee on the best-known fund tracking the same index.

Stated mandate

EBIT The fund seeks to track, before fees and expenses, the performance of the Harbor AlphaEdge Small Cap Earners Index.

VTWO The fund invests in stocks in the Russell 2000 Index and seeks to closely track that index's return, representing small-cap U.S. stock exposure.

Why people hold it

EBIT Does what the prospectus says: track the Harbor AlphaEdge Small Cap Earners Index, with very little drift between fund and benchmark.
Roughly 600 small caps in one ticker, so no single name drives the outcome.
At 0.29% a year, it charges index-fund money for a rules-based screen rather than active-manager money.

VTWO Same index, smaller toll. VTWO charges 0.06% while IWM, the other big Russell 2000 tracker, charges 0.19%. The small-cap category median is 0.25%.vanguard.com
Holds roughly 2,000 stocks, the whole small-cap benchmark rather than a trimmed slice. A multi-billion-dollar fund, actively traded, running since 2010 and paying quarterly.
Tracking has been about as tight as this corner of the market gets, one of the closest index-replication records among US small-cap funds.

Worth knowing

EBIT A small, thinly traded fund. Spreads can run wider than in the category's heavyweights, which makes order type matter more.
That 0.29% sits above the 0.25% small-cap median and far above core beta like VB and SCHA at 0.03%.
Launched in 2024, so the index has not yet been tested across a full market cycle.

VTWO Small-cap stocks swing harder than large caps, and this fund stays fully invested in them through the rough stretches.vanguard.com
Cheaper exists on the shelf: VB and SCHA run 0.03%, though they follow different small-cap indexes with different membership rules.
The Russell 2000 rebuilds its membership on a published schedule (June, plus a December rebalance from 2026), which packs index-driven trading into those dates.lseg.com

Full EBIT profile⁠

Full VTWO profile⁠

EBIT vs VTWO Holdings

How EBIT and VTWO differ

Overlap by weight

37.7%

Shared holdings make up 98.1% of EBIT and 39.6% of VTWO.

Level by level

Holdings580 in both37.7%
Sector11 Sectors76.1%
Countryby domicile97.9%
Asset classEquity100%

Sector

Sector weights in EBIT and VTWO, widest gap first
Sector	More in EBITMore in VTWO	EBIT	VTWO
Health Care	VTWO +15.6 points	5.2%	20.8%
Financials	EBIT +9.8 points	27.9%	18.1%
Technology	VTWO +6.9 points	7.3%	14.2%
Consumer Discretionary	EBIT +6.8 points	15.3%	8.5%
Energy	EBIT +4.6 points	10.8%	6.2%
Real Estate	EBIT +1.4 points	7.7%	6.3%
Materials	VTWO +0.8 points	4.0%	4.8%
Communication	EBIT +0.8 points	3.0%	2.2%
Industrials	VTWO +0.6 points	13.1%	13.7%
Consumer Staples	EBIT +0.3 points	2.9%	2.6%
Utilities	EBIT +0.1 points	2.8%	2.7%

Country, concentration and asset class

Country by domicile

Country weights in EBIT and VTWO, widest gap first
Country	More in EBITMore in VTWO	EBIT	VTWO
United States	VTWO +2.1 points	97.9%	100.0%
Brazil	EBIT +1.6 points	1.6%	0.0%
Other countries (2)	EBIT +0.4 points	0.4%	0.0%

Concentration

Weight in the 10 largest Holdings

EBIT7.9%
VTWO5.4%

Securities held

EBIT594
VTWO1,998

Asset class

EBIT: Equity
VTWO: Equity

Holdings

Only in EBIT14
In both580
Only in VTWO1,418

Only in EBIT

14 securities, 1.9% of EBIT by weight

Brightstar Lottery PLC0.36%
Wiley (John) & Sons-Class A0.28%
United Parks & Resorts Inc0.22%
Astrana Health Inc0.18%
Happen Inc0.18%
Octave Specialty Group Inc0.16%
Ziff Davis Inc0.14%
Csw Industrials Inc0.11%
Optimum Communications Inc-A0.07%
Triumph Financial Inc0.04%
Chiron Real Estate Inc0.04%
Aebi Schmidt Holding AG0.04%
Shoe Station Group Inc0.04%
Metallus Inc0.03%

Only in VTWO

1,418 securities, 60.4% of VTWO by weight

SLBBH11422.36%
Twist Bioscience Corp0.42%
JFrog Ltd0.35%
10X Genomics Inc0.35%
BrightSpring Health Services Inc0.31%
Glaukos Corp0.31%
Viasat Inc0.30%
Cytokinetics Inc0.29%
Hut 8 Corp0.29%
CareTrust REIT Inc0.29%
Krystal Biotech Inc0.29%
Protagonist Therapeutics Inc0.29%
TG Therapeutics Inc0.27%
MaxLinear Inc0.26%
Vaxcyte Inc0.25%
Oscar Health Inc0.24%
Silicon Laboratories Inc0.24%
Praxis Precision Medicines Inc0.24%
Arcosa Inc0.24%
Riot Platforms Inc0.24%
Zeta Global Holdings Corp0.24%
ESCO Technologies Inc0.23%
SSR Mining Inc0.23%
Kymera Therapeutics Inc0.23%
Spyre Therapeutics Inc0.22%
Federal Signal Corp0.22%
Compass Inc0.21%
Hims & Hers Health Inc0.21%
Ligand Pharmaceuticals Inc0.21%
D-Wave Quantum Inc0.20%
Iovance Biotherapeutics Inc0.19%
GRAIL Inc0.19%
Ormat Technologies Inc0.19%
Glacier Bancorp Inc0.19%
Rhythm Pharmaceuticals Inc0.18%
Kodiak Gas Services Inc0.18%
Lumen Technologies Inc0.18%
Varonis Systems Inc0.18%
Scholar Rock Holding Corp0.18%
Cipher Digital Inc0.18%
PTC Therapeutics Inc0.18%
Cogent Biosciences Inc0.18%
Xometry Inc0.18%
Rigetti Computing Inc0.17%
Travere Therapeutics Inc0.17%
Impinj Inc0.17%
CG oncology Inc0.17%
Argan Inc0.17%
Transocean Ltd0.17%
Granite Construction Inc0.17%

Weight gaps

The 100 widest of 580 Holdings in both funds.

Holding weights in EBIT and VTWO, widest gap first
Holding	More in EBITMore in VTWO	EBIT	VTWO
Navient Holdings IncNAVI	EBIT +1.85 points	1.87%	0.02%
Pennymac Financial ServicesPFSI	EBIT +0.65 points	0.71%	0.06%
Pagseguro Digital Ltd-Cl APAGS	EBIT +0.59 points	0.64%	0.05%
Stonex Group IncSNEX	EBIT +0.54 points	0.77%	0.23%
Community Health Systems IncCYH	EBIT +0.53 points	0.54%	0.01%
Abercrombie & Fitch Co-Cl AANF	EBIT +0.50 points	0.70%	0.20%
Marex Group LtdMRX	EBIT +0.50 points	0.64%	0.14%
Bread Financial Holdings IncBFH	EBIT +0.49 points	0.62%	0.13%
Jackson Financial Inc-AJXN	EBIT +0.50 points	0.78%	0.28%
Cvr Energy IncCVI	EBIT +0.49 points	0.54%	0.05%
Cnx Resources CorpCNX	EBIT +0.46 points	0.61%	0.15%
Scorpio Tankers IncSTNG	EBIT +0.47 points	0.59%	0.12%
Enact Holdings IncACT	EBIT +0.43 points	0.47%	0.04%
Group 1 Automotive IncGPI	EBIT +0.41 points	0.50%	0.09%
Federal Agric Mtg Corp-Cl CAGM	EBIT +0.41 points	0.47%	0.06%
Highpeak Energy IncHPK	EBIT +0.38 points	0.39%	<0.01%
Stoneco Ltd-ASTNE	EBIT +0.39 points	0.46%	0.07%
Diebold Nixdorf IncDBD	EBIT +0.39 points	0.43%	0.04%
International Seaways IncINSW	EBIT +0.39 points	0.54%	0.15%
Hamilton Insurance Grou-Cl BHG	EBIT +0.36 points	0.41%	0.05%
Gray Media IncGTN	EBIT +0.36 points	0.37%	0.01%
Asbury Automotive GroupABG	EBIT +0.36 points	0.46%	0.10%
Northern Oil and Gas IncNOG	EBIT +0.35 points	0.43%	0.08%
Nelnet Inc-Cl ANNI	EBIT +0.35 points	0.41%	0.06%
Teekay Corp LtdTK	EBIT +0.34 points	0.37%	0.03%
Essent Group LtdESNT	EBIT +0.33 points	0.50%	0.17%
Meritage Homes CorpMTH	EBIT +0.34 points	0.47%	0.13%
F&G Annuities & Life IncFG	EBIT +0.32 points	0.35%	0.03%
Murphy Oil CorpMUR	EBIT +0.32 points	0.49%	0.17%
Teekay Tankers Ltd-Class ATNK	EBIT +0.32 points	0.40%	0.08%
Kohls CorpKSS	EBIT +0.32 points	0.39%	0.07%
Embecta CorpEMBC	EBIT +0.32 points	0.33%	0.01%
Hilton Grand Vacations IncHGV	EBIT +0.31 points	0.38%	0.07%
Matson IncMATX	EBIT +0.30 points	0.52%	0.22%
Cal-Maine Foods IncCALM	EBIT +0.29 points	0.39%	0.10%
Huron Consulting Group IncHURN	EBIT +0.29 points	0.37%	0.08%
Uniti Group IncUNIT	EBIT +0.28 points	0.33%	0.05%
Surgery Partners IncSGRY	EBIT +0.28 points	0.32%	0.04%
Atlanticus Holdings CorpATLC	EBIT +0.28 points	0.29%	0.01%
Information Services GroupIII	EBIT +0.27 points	0.28%	<0.01%
Kb HomeKBH	EBIT +0.27 points	0.36%	0.09%
Radian Group IncRDN	EBIT +0.26 points	0.40%	0.14%
Academy Sports & Outdoors InASO	EBIT +0.27 points	0.37%	0.10%
Mercury General CorpMCY	EBIT +0.26 points	0.35%	0.09%
Old National BancorpONB	EBIT +0.26 points	0.54%	0.28%
Herc Holdings IncHRI	EBIT +0.25 points	0.39%	0.14%
U.s. Physical Therapy IncUSPH	EBIT +0.25 points	0.29%	0.04%
Dream Finders Homes Inc - ADFH	EBIT +0.25 points	0.26%	<0.01%
Quaker Chemical CorporationKWR	EBIT +0.25 points	0.32%	0.07%
Kinetik Holdings IncKNTK	EBIT +0.25 points	0.34%	0.09%
Valley National BancorpVLY	EBIT +0.25 points	0.45%	0.20%
Velocity Financial IncVEL	EBIT +0.24 points	0.25%	<0.01%
Axos Financial IncAX	EBIT +0.24 points	0.40%	0.16%
Herbalife LtdHLF	EBIT +0.24 points	0.28%	0.04%
California Resources CorpCRC	EBIT +0.24 points	0.37%	0.13%
Green Brick Partners IncGRBK	EBIT +0.23 points	0.30%	0.07%
Nabors Industries LtdNBR	EBIT +0.22 points	0.26%	0.04%
Home Bancshares IncHOMB	EBIT +0.22 points	0.40%	0.18%
Phibro Animal Health Corp-APAHC	EBIT +0.21 points	0.24%	0.03%
International Bancshares CrpIBOC	EBIT +0.21 points	0.34%	0.13%
Cathay General BancorpCATY	EBIT +0.22 points	0.35%	0.13%
Costamare IncCMRE	EBIT +0.22 points	0.24%	0.02%
Valaris LtdVAL	EBIT +0.21 points	0.36%	0.15%
Energizer Holdings IncENR	EBIT +0.21 points	0.25%	0.04%
Signet Jewelers LtdSIG	EBIT +0.21 points	0.34%	0.13%
Qualys IncQLYS	EBIT +0.21 points	0.43%	0.22%
Noble Corp PLCNE	EBIT +0.20 points	0.38%	0.18%
Artisan Partners Asset Ma -AAPAM	EBIT +0.20 points	0.28%	0.08%
Victory Capital Holding - AVCTR	EBIT +0.20 points	0.36%	0.16%
First Bancorp Puerto RicoFBP	EBIT +0.20 points	0.30%	0.10%
Urban Outfitters IncURBN	EBIT +0.20 points	0.35%	0.15%
Walker & Dunlop IncWD	EBIT +0.20 points	0.24%	0.04%
O-I Glass IncOI	EBIT +0.20 points	0.23%	0.03%
Ardent Health IncARDT	EBIT +0.19 points	0.20%	<0.01%
M/I Homes IncMHO	EBIT +0.20 points	0.31%	0.11%
Cushman & Wakefield LtdCWK	EBIT +0.19 points	0.28%	0.09%
Yelp IncYELP	EBIT +0.19 points	0.22%	0.03%
Eplus IncPLUS	EBIT +0.19 points	0.27%	0.08%
Cno Financial Group IncCNO	EBIT +0.19 points	0.35%	0.16%
First Interstate Bancsys-AFIBK	EBIT +0.18 points	0.29%	0.11%
Arhaus IncARHS	EBIT +0.18 points	0.20%	0.02%
Pursuit Attractions and HospPRSU	EBIT +0.19 points	0.22%	0.03%
United Community Banks/GaUCB	EBIT +0.18 points	0.31%	0.13%
Boise Cascade CoBCC	EBIT +0.18 points	0.27%	0.09%
Insight Enterprises IncNSIT	EBIT +0.18 points	0.34%	0.16%
Siriuspoint LtdSPNT	EBIT +0.18 points	0.26%	0.08%
Cabot CorpCBT	EBIT +0.18 points	0.31%	0.13%
National Beverage CorpFIZZ	EBIT +0.18 points	0.20%	0.02%
Fulton Financial CorpFULT	EBIT +0.17 points	0.32%	0.15%
Graham Holdings Co-Class BGHC	EBIT +0.17 points	0.29%	0.12%
Hancock Whitney CorpHWC	EBIT +0.17 points	0.37%	0.20%
Wsfs Financial CorpWSFS	EBIT +0.18 points	0.31%	0.13%
Everforth IncEFOR	EBIT +0.18 points	0.22%	0.04%
Artivion IncAORT	EBIT +0.18 points	0.21%	0.03%
Pra Group IncPRAA	EBIT +0.18 points	0.20%	0.02%
Rlj Lodging TrustRLJ	EBIT +0.17 points	0.22%	0.05%
Myers Industries IncMYE	EBIT +0.17 points	0.21%	0.04%
United Bankshares IncUBSI	EBIT +0.17 points	0.38%	0.21%
Pebblebrook Hotel TrustPEB	EBIT +0.17 points	0.24%	0.07%
Life Time Group Holdings IncLTH	EBIT +0.16 points	0.37%	0.21%

All 597 EBIT holdings⁠All 1,969 VTWO 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.

EBIT vs VTWO Cost

Overpaying EBIT vs VTWO

$4,682

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

EBIT 0.29%
$5,952
VTWO 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

EBIT 0.29%
VTWO 0.06%
Overpaying

Year by year

Year	EBIT	VTWO	Overpaying
10	$527	$110	$417
20	$2,044	$432	$1,612
30	$5,952	$1,270	$4,682

Expense ratio

0.29%EBIT
0.06%VTWO, cheaper

VTWO0.06%EBIT0.29%

0.03%0.60%

Middle half of US Small-Cap funds
Median 0.20%

VTWO 4th cheapest of 16 funds

EBIT 12th cheapest of 16 funds

EBIT vs VTWO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EBIT 1.72%, better; VTWO 1.20%
Payout (12M): EBIT $0.67; VTWO $1.36
Last payment: EBIT $0.67; VTWO $0.39
Ex-dividend: EBIT Dec 19, 2025; VTWO Sep 23, 2026
Paid on: EBIT Dec 24, 2025; VTWO Sep 25, 2026
Frequency: EBIT Irregular; VTWO Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EBITIrregular · 2 paymentsAll EBIT payments⁠

VTWOQuarterly · 39 paymentsAll VTWO payments⁠

EBIT vs VTWO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: EBIT 15.9%since Aug 2024VTWO 19.0%
Return per unit of riskSharpe ratio, 3 years: EBIT 0.29since Aug 2024VTWO 0.86
Worst fallMax drawdown, 5 years: EBIT −26.6%since Jul 2024VTWO −31.9%
Market sensitivityBeta, 5 years: EBIT 0.84VTWO 1.14; Market = 1

EBIT and VTWO in the news

All news⁠

Best ETFs
Best small-cap ETFs: Vanguard’s VB beats three great funds all charging just 0.03%
Updated Nov 2, 2026VTWO
Head-to-Head
Hold VB over IWM for a small-cap stake
Oct 30, 2026VTWO
New ETFs
Longnook's compounders ETF leads with tankers, Newmont and Exxon Mobil
Oct 5, 2026VTWO
Best ETFs
Schwab and Vanguard charge the same 0.03%. Their small-cap funds are 3.7 percentage points apart
Updated Oct 2, 2026VTWO

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