FAD vs VONV: Grades, Fees and Holdings Compared

First Trust Multi Cap Growth AlphaDEX Fund

FADCNasdaq

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

16.6%by weight

Expense ratio

VONV −0.57pt a year

FAD0.63%VONV0.06%

Avg volume · 30D

VONV 61.9×the volume

FAD12.5KVONV776K

10Y return · a year

FAD +1.8pt

FAD+13.7%VONV+11.9%

FAD vs VONV Performance

Nov 9, 2021 – Nov 9, 2026

+37.5%FAD+73.9%VONV

Expense ratio: FAD 0.63%; VONV 0.06%, better
Fund size: FAD $571M; VONV $21.7B
1Y total return: FAD +10.4%; VONV +30.6%, better
Yield (12M): FAD 0.09%; VONV 1.51%, better
Holdings: FAD 675; VONV 887
Avg volume (30D): FAD 12.5K sh; VONV 776K sh, better
NAV per share: FAD $170.35; VONV $112.88
52W range

ETF.net Grade

Pillar letters and Scores for FAD, VONV, with each pillar’s weight
Pillar	FAD	VONV
Cost30% weight	F10	A96Higher
Mission25% weight	A70	A100Higher
Risk15% weight	F15	A89Higher
Tradability15% weight	C42	B59Higher
Holdings10% weight	A84Higher	C49
Durability5% weight	A70	A92Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. FAD 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 FAD 84th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 80CTMFEMotley Fool Capital Efficiency 100 Index ETFScore 42
Rank 84CFADFirst Trust Multi Cap Growth AlphaDEX FundScore 40
Rank 84CHQGOHartford US Quality Growth ETFScore 40

Our read on each fund

ETF.net Research

FADCFirst Trust Multi Cap Growth AlphaDEX Fund

VONVAVanguard Russell 1000 Value ETF

In short

FAD FAD has run First Trust's AlphaDEX screen since 2007, ranking US stocks on growth and value marks and spreading the survivors across roughly 700 names, small caps included. Rules-based stock picking wearing an index wrapper.

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

FAD The Fund seeks to track, before fees and expenses, the price and yield of the Nasdaq AlphaDEX Multi Cap Growth 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

FAD One ticker, roughly 700 US stocks spanning large, mid and small caps, so no single name or size band runs the show.ftportfolios.com
Screens on growth and value marks rather than taking the market cap-weighted index as-is, and rebalances by rule instead of manager hunch.ftportfolios.com
Live since 2007, so AlphaDEX here has a real-money record across multiple market cycles, not a backtest.
Sticks to the job in its prospectus: tracking the Nasdaq AlphaDEX Multi Cap Growth Index, with little gap between what the documents describe and what it holds.ftportfolios.com

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

FAD At 0.63% a year, it runs about double the typical fund in its multifactor group, and plain index peers like IUSG (0.04%) and VONV (0.06%) charge a sliver of that.
Trading is thin next to the category's giants, so spreads can widen. Limit orders are the standard defense.
Reaching down the cap ladder into smaller growth names means a choppier ride than a plain large-cap index.

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 FAD profile⁠

Full VONV profile⁠

FAD vs VONV Holdings

How FAD and VONV differ

Overlap by weight

16.6%

Shared holdings make up 43.4% of VONV and 43.3% of FAD.

Level by level

Holdings215 in both16.6%
Sector11 Sectors75.8%
Countryby domicile97.7%
Asset classStocks100%

Sector

Sector weights in FAD and VONV, widest gap first
Sector	Gap	FAD	VONV
Health Care	FAD +9.0 points	22.4%	13.4%
Technology	FAD +8.8 points	30.7%	21.9%
Financials	VONV +8.7 points	9.2%	17.9%
Industrials	FAD +6.1 points	15.6%	9.5%
Consumer Staples	VONV +5.2 points	2.0%	7.2%
Energy	VONV +4.6 points	1.6%	6.2%
Utilities	VONV +3.1 points	0.3%	3.4%
Consumer Discretionary	VONV +1.4 points	9.0%	10.4%
Communication	VONV +0.9 points	2.5%	3.4%
Real Estate	FAD +0.3 points	3.8%	3.5%
Materials	VONV +0.2 points	3.1%	3.3%

Country, concentration and asset class

Country by domicile

Country weights in FAD and VONV, widest gap first
Country	Gap	FAD	VONV
United States	VONV +2.3 points	97.7%	100.0%
Ireland	FAD +1.2 points	1.2%	0.0%
Other countries (5)	FAD +1.1 points	1.1%	0.0%

Concentration

Weight in the 10 largest Holdings

FAD5.1%
VONV29.8%

Securities held

FAD674
VONV883

Asset class

FAD: Stocks
VONV: Stocks

Holdings

Only in FAD459
In both215
Only in VONV668

Only in FAD

459 securities, 56.6% of FAD by weight

Medpace Holdings, Inc.0.50%
Expedia Group, Inc.0.47%
Toast, Inc. (Class A)0.46%
Airbnb, Inc. (Class A)0.45%
Eli Lilly and Company0.45%
DexCom, Inc.0.44%
Amphenol Corporation0.42%
Quanta Services, Inc.0.40%
Arista Networks, Inc.0.40%
CrowdStrike Holdings, Inc. (Class A)0.39%
NVIDIA Corporation0.39%
Snowflake Inc. (Class A)0.39%
Cloudflare, Inc. (Class A)0.37%
Natera, Inc.0.36%
ATI Inc.0.35%
Advanced Micro Devices, Inc.0.35%
Monolithic Power Systems, Inc.0.34%
Carvana Co. (Class A)0.33%
Palantir Technologies Inc. (Class A)0.33%
Glaukos Corporation0.32%
Ares Management Corporation (Class A)0.32%
Fortinet, Inc.0.32%
Datadog, Inc. (Class A)0.31%
Micron Technology, Inc.0.31%
Bloom Energy Corporation (Class A)0.30%
Comfort Systems USA, Inc.0.29%
Concentra Group Holdings Parent, Inc.0.29%
Live Nation Entertainment, Inc.0.29%
Victoria's Secret & Co.0.29%
PACS Group, Inc.0.28%
Hinge Health, Inc. (Class A)0.28%
Zscaler, Inc.0.28%
Texas Instruments Incorporated0.28%
DoorDash, Inc. (Class A)0.27%
Targa Resources Corp.0.27%
LifeStance Health Group, Inc.0.27%
Haemonetics Corporation0.27%
Xometry, Inc. (Class A)0.26%
Victory Capital Holdings, Inc. (Class A)0.25%
TG Therapeutics, Inc.0.25%
Brinker International, Inc.0.25%
Frontdoor, Inc.0.25%
Remitly Global, Inc.0.25%
Sitime Corporation0.24%
Qualys, Inc.0.24%
The Cheesecake Factory Incorporated0.24%
Seagate Technology Holdings Plc0.24%
Box, Inc. (Class A)0.24%
Amneal Pharmaceuticals, Inc.0.24%
Oscar Health, Inc. (Class A)0.23%

Only in VONV

668 securities, 56.4% of VONV by weight

Berkshire Hathaway Inc2.55%
JPMorgan Chase & Co2.43%
ExxonMobil Holdings Corp1.84%
Walmart Inc1.14%
Chevron Corp1.04%
Procter & Gamble Co/The0.93%
UnitedHealth Group Inc0.91%
Bank of America Corp0.90%
Thermo Fisher Scientific Inc0.69%
Wells Fargo & Co0.67%
Costco Wholesale Corp0.62%
Linde PLC0.60%
International Business Machines Corp0.57%
Verizon Communications Inc0.53%
Salesforce Inc0.50%
Walt Disney Co/The0.50%
Citigroup Inc0.50%
Abbott Laboratories0.47%
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%
Charles Schwab Corp/The0.41%
Danaher Corp0.38%
Bristol-Myers Squibb Co0.35%
Prologis Inc0.34%
Progressive Corp/The0.33%
Capital One Financial Corp0.32%
Chubb Ltd0.31%
Altria Group Inc0.31%
Accenture PLC0.31%
Medtronic PLC0.30%
CVS Health Corp0.30%
Lowe's Cos Inc0.28%
Valero Energy Corp0.27%
Phillips 660.26%
Southern Co/The0.26%
Stryker Corp0.26%
CME Group Inc0.26%
Bank of New York Mellon Corp/The0.25%
US Bancorp0.25%
PNC Financial Services Group Inc/The0.24%
Duke Energy Corp0.24%
Intercontinental Exchange Inc0.23%
General Dynamics Corp0.23%
Williams Cos Inc/The0.23%

Weight gaps

The 100 widest of 215 Holdings in both funds.

Holding weights in FAD and VONV, widest gap first
Holding	Gap	FAD	VONV
Amazon.com, Inc.AMZN	VONV +5.68 points	0.40%	6.08%
Apple Inc.AAPL	VONV +5.67 points	0.39%	6.06%
Microsoft CorporationMSFT	VONV +4.94 points	0.29%	5.23%
Johnson & JohnsonJNJ	VONV +1.55 points	0.20%	1.75%
Intel CorporationINTC	VONV +1.42 points	0.09%	1.51%
AbbVie Inc.ABBV	VONV +0.96 points	0.21%	1.17%
Cisco Systems, Inc.CSCO	VONV +0.84 points	0.33%	1.17%
Philip Morris International Inc.PM	VONV +0.62 points	0.20%	0.82%
Merck & Co., Inc.MRK	VONV +0.60 points	0.39%	0.99%
The Coca-Cola CompanyKO	VONV +0.60 points	0.21%	0.81%
SharkNinja Inc.SN	FAD +0.55 points	0.59%	0.04%
Corpay, Inc.CPAY	FAD +0.52 points	0.56%	0.04%
RTX CorporationRTX	VONV +0.49 points	0.20%	0.69%
Meta Platforms, Inc. (Class A)META	VONV +0.48 points	0.32%	0.80%
Ross Stores, Inc.ROST	FAD +0.44 points	0.47%	0.03%
Incyte CorporationINCY	FAD +0.41 points	0.47%	0.06%
Expeditors International of Washington, Inc.EXPD	FAD +0.41 points	0.48%	0.07%
The Goldman Sachs Group, Inc.GS	VONV +0.40 points	0.27%	0.67%
Guardant Health, Inc.GH	FAD +0.39 points	0.40%	<0.01%
Workday, Inc. (Class A)WDAY	FAD +0.38 points	0.48%	0.10%
Agilent Technologies, Inc.A	FAD +0.35 points	0.48%	0.13%
Jazz Pharmaceuticals PlcJAZZ	FAD +0.35 points	0.39%	0.04%
eBay Inc.EBAY	FAD +0.35 points	0.44%	0.09%
West Pharmaceutical Services, Inc.WST	FAD +0.34 points	0.41%	0.07%
Wabtec CorporationWAB	FAD +0.34 points	0.47%	0.13%
Everpure, Inc. (Class A)P	FAD +0.33 points	0.35%	0.02%
MongoDB, Inc.MDB	FAD +0.33 points	0.34%	<0.01%
IDEX CorporationIEX	FAD +0.33 points	0.38%	0.05%
International Flavors & Fragrances Inc.IFF	FAD +0.32 points	0.38%	0.06%
Nordson CorporationNDSN	FAD +0.31 points	0.36%	0.05%
Union Pacific CorporationUNP	VONV +0.31 points	0.10%	0.41%
Moderna, Inc.MRNA	FAD +0.31 points	0.50%	0.19%
NetApp, Inc.NTAP	FAD +0.32 points	0.39%	0.07%
Unity Software Inc.U	FAD +0.31 points	0.35%	0.04%
Northern Trust CorporationNTRS	FAD +0.31 points	0.39%	0.08%
W.W. Grainger, Inc.GWW	FAD +0.30 points	0.32%	0.02%
Okta, Inc.OKTA	FAD +0.30 points	0.39%	0.09%
Veeva Systems Inc. (Class A)VEEV	FAD +0.29 points	0.41%	0.12%
Keysight Technologies, Inc.KEYS	FAD +0.29 points	0.36%	0.07%
QUALCOMM IncorporatedQCOM	VONV +0.28 points	0.25%	0.53%
Interactive Brokers Group, Inc. (Class A)IBKR	FAD +0.28 points	0.34%	0.06%
Marriott International, Inc.MAR	FAD +0.28 points	0.33%	0.05%
Nutanix, Inc. (Class A)NTNX	FAD +0.27 points	0.32%	0.05%
Royal Gold, Inc.RGLD	FAD +0.26 points	0.31%	0.05%
Chime Financial, Inc. (Class A)CHYM	FAD +0.26 points	0.28%	0.02%
Illumina, Inc.ILMN	FAD +0.26 points	0.37%	0.11%
Exelixis, Inc.EXEL	FAD +0.25 points	0.28%	0.03%
Garmin Ltd.GRMN	FAD +0.25 points	0.38%	0.13%
Williams-Sonoma, Inc.WSM	FAD +0.25 points	0.31%	0.06%
Maplebear Inc. (Instacart)CART	FAD +0.24 points	0.25%	<0.01%
Five Below, Inc.FIVE	FAD +0.24 points	0.26%	0.02%
Mettler-Toledo International Inc.MTD	FAD +0.24 points	0.32%	0.08%
ITT Inc.ITT	FAD +0.23 points	0.28%	0.05%
Amgen Inc.AMGN	FAD +0.24 points	0.42%	0.18%
Coca-Cola Consolidated, Inc.COKE	FAD +0.23 points	0.26%	0.03%
Morningstar, Inc.MORN	FAD +0.23 points	0.24%	<0.01%
Charles River Laboratories International, Inc.CRL	FAD +0.23 points	0.27%	0.04%
Twilio Inc. (Class A)TWLO	FAD +0.23 points	0.33%	0.10%
Etsy, Inc.ETSY	FAD +0.23 points	0.24%	<0.01%
Dropbox, Inc. (Class A)DBX	FAD +0.23 points	0.24%	0.01%
GitLab Inc. (Class A)GTLB	FAD +0.22 points	0.24%	0.02%
Virtu Financial, Inc. (Class A)VIRT	FAD +0.22 points	0.23%	0.01%
Rockwell Automation, Inc.ROK	FAD +0.22 points	0.24%	0.02%
RingCentral, Inc. (Class A)RNG	FAD +0.22 points	0.23%	0.01%
S&P Global Inc.SPGI	VONV +0.21 points	0.11%	0.32%
SentinelOne, Inc. (Class A)S	FAD +0.21 points	0.22%	<0.01%
Morgan StanleyMS	VONV +0.21 points	0.37%	0.58%
Bruker CorporationBRKR	FAD +0.20 points	0.22%	0.02%
Rubrik, Inc. (Class A)RBRK	FAD +0.20 points	0.22%	0.02%
F5, Inc.FFIV	FAD +0.20 points	0.27%	0.07%
Coeur Mining, Inc.CDE	FAD +0.20 points	0.25%	0.05%
Gilead Sciences, Inc.GILD	VONV +0.20 points	0.31%	0.51%
Caris Life Sciences, Inc.CAI	FAD +0.19 points	0.19%	<0.01%
DaVita Inc.DVA	FAD +0.19 points	0.21%	0.02%
DocuSign, Inc.DOCU	FAD +0.19 points	0.22%	0.03%
Equinix, Inc.EQIX	VONV +0.18 points	0.09%	0.27%
UiPath, Inc. (Class A)PATH	FAD +0.18 points	0.19%	0.01%
Wayfair Inc. (Class A)W	FAD +0.18 points	0.21%	0.03%
Fastenal CompanyFAST	FAD +0.17 points	0.20%	0.03%
Ryan Specialty Holdings, Inc. (Class A)RYAN	FAD +0.17 points	0.18%	<0.01%
Allison Transmission Holdings, Inc.ALSN	FAD +0.17 points	0.19%	0.02%
Newmont CorporationNEM	FAD +0.17 points	0.50%	0.33%
Cboe Global Markets, Inc.CBOE	FAD +0.17 points	0.25%	0.08%
Liberty Media Corporation (Class C)FWONK	FAD +0.16 points	0.22%	0.06%
SEI Investments CompanySEIC	FAD +0.16 points	0.19%	0.03%
Ralliant CorporationRAL	FAD +0.16 points	0.18%	0.02%
United Rentals, Inc.URI	FAD +0.16 points	0.29%	0.13%
KKR & Co. Inc. (Class A)KKR	FAD +0.17 points	0.30%	0.13%
Robinhood Markets, Inc. (Class A)HOOD	FAD +0.16 points	0.20%	0.04%
Neurocrine Biosciences, Inc.NBIX	FAD +0.15 points	0.16%	<0.01%
Match Group Inc.MTCH	FAD +0.15 points	0.18%	0.03%
MKS, Inc.MKSI	FAD +0.16 points	0.20%	0.04%
Cardinal Health, Inc.CAH	FAD +0.15 points	0.23%	0.08%
Primo Brands Corporation (Class A)PRMB	FAD +0.16 points	0.17%	0.01%
Roivant Sciences Ltd.ROIV	FAD +0.15 points	0.20%	0.05%
Americold Realty Trust Inc.COLD	FAD +0.15 points	0.16%	0.01%
Parker-Hannifin CorporationPH	VONV +0.15 points	0.18%	0.33%
Analog Devices, Inc.ADI	VONV +0.14 points	0.35%	0.49%
Repligen CorporationRGEN	FAD +0.14 points	0.17%	0.03%
Uber Technologies, Inc.UBER	VONV +0.14 points	0.19%	0.33%

All 676 FAD holdings⁠All 870 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.

FAD vs VONV Cost

Overpaying FAD vs VONV

$11,089

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

FAD 0.63%
$12,359
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

FAD 0.63%
VONV 0.06%
Overpaying

Year by year

Year	FAD	VONV	Overpaying
10	$1,128	$110	$1,018
20	$4,311	$432	$3,879
30	$12,359	$1,270	$11,089

Expense ratio

0.63%FAD
0.06%VONV, cheaper

VONV0.06%FAD0.63%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VONV 4th cheapest of 99 funds

FAD 89th cheapest of 99 funds

FAD vs VONV Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FAD 0.09%; VONV 1.51%, better
Payout (12M): FAD $0.15; VONV $1.74
Last payment: FAD $0.05; VONV $0.42
Ex-dividend: FAD Sep 24, 2026; VONV Sep 23, 2026
Paid on: FAD Sep 30, 2026; VONV Sep 25, 2026
Frequency: FAD Quarterly; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FADQuarterly · 34 paymentsAll FAD payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

FAD vs VONV Risk

Fall from peak · 5 years

FAD
VONV

Risk facts

VolatilityStd dev, 3 years: FAD 17.9%VONV 12.1%, better
Return per unit of riskSharpe ratio, 3 years: FAD 1.03VONV 1.43, better
Worst fallMax drawdown, 5 years: FAD −32.0%VONV −18.9%, better
Market sensitivityBeta, 5 years: FAD 1.18VONV 0.85; Market = 1

FAD and VONV in the news

All news⁠

Best ETFs
Best large-cap value ETFs: Vanguard’s VTV at 0.03%, or VONV for the Russell 1000 Value
Updated Nov 3, 2026VONV
Best ETFs
The best value ETF depends on whose list you bought
Updated Oct 2, 2026VONV
Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026VONV

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FAD vs VONV

In short

Stated mandate

Why people hold it

Worth knowing

How FAD and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FAD

Only in VONV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best large-cap value ETFs: Vanguard’s VTV at 0.03%, or VONV for the Russell 1000 Value

The best value ETF depends on whose list you bought

US multifactor funds ran 30 points apart

How FAD and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FAD

Only in VONV

Weight gaps