FCFY vs SPYV: Grades, Fees and Holdings Compared

First Trust S&P 500 Diversified Free Cash Flow ETF

FCFYDNYSE Arca

State Street SPDR Portfolio S&P 500 Value ETF

SPYVANYSE Arca

Overlap

13.5%by weight

Expense ratio

SPYV −0.56pt a year

FCFY0.60%SPYV0.04%

Avg volume · 30D

SPYV 1837.6×the volume

FCFY1.15KSPYV2.1M

3Y return · a year

FCFY +1.2pt

FCFY+20.0%SPYV+18.8%

FCFY vs SPYV Performance

Oct 31, 2025 – Oct 30, 2026

+18.0%FCFY+16.6%SPYV

Expense ratio: FCFY 0.60%; SPYV 0.04%, better
Fund size: FCFY $2M; SPYV $39.2B
1Y total return: FCFY +18.0%, better; SPYV +16.6%
Yield (12M): FCFY 1.23%; SPYV 1.65%, better
Holdings: FCFY 101; SPYV 437
Avg volume (30D): FCFY 1.15K sh; SPYV 2.1M sh, better
NAV per share: FCFY $31.20; SPYV $64.64
52W range

ETF.net Grade

Pillar letters and Scores for FCFY, SPYV, with each pillar’s weight
Pillar	FCFY	SPYV
Cost30% weight	F20	A98Higher
Mission25% weight	C40	A86Higher
Risk15% weight	C44	A82Higher
Tradability15% weight	D36	A97Higher
Holdings10% weight	B58	A71Higher
Durability5% weight	D39	A86Higher

Rank among Other Major Indexes funds

How we build Categories ›

Same Category. FCFY and SPYV are both graded against the same 42 Other Major Indexes funds, so their Grades compare head to head.

Other Major Indexes⁠

Category · 42 funds

See all 42 ›

SPYV ranks 1st and FCFY 35th of 42 funds in the Other Major Indexes Category.

Rank 1ASPYVState Street SPDR Portfolio S&P 500 Value ETFScore 89
Rank 2ASCHKSchwab 1000 Index ETFScore 86
Rank 33DWDAIPacer S&P World 3AI Top 300 ETFScore 36
Rank 35DFCFYFirst Trust S&P 500 Diversified Free Cash Flow ETFScore 35
Rank 35DSFYFSoFi Social 50 ETFScore 35

Our read on each fund

ETF.net Research

FCFYDFirst Trust S&P 500 Diversified Free Cash Flow ETF

SPYVAState Street SPDR Portfolio S&P 500 Value ETF

In short

FCFY Free cash flow screening on the S&P 500, with a twist: the cash-generation ranking runs inside each sector, then sector weights are held near the parent index. A cash-flow tilt that still looks like the market it came from.

SPYV The value side of the S&P 500, tracked since 2000 for four basis points. It does one thing: hold the index names that screen cheap, and charge close to nothing for the privilege.

Stated mandate

FCFY The Fund seeks to track, before fees and expenses, the price and yield of the S&P 500® Sector-Neutral FCF Index. It normally invests at least 80% of net assets in index securities and generally uses full replication.

SPYV The fund seeks to track, before fees and expenses, the total return of the S&P 500 Value Index.

Why people hold it

FCFY Sector-neutral by construction: the free cash flow screen is applied within sectors, so the portfolio keeps S&P 500-like sector weights instead of piling into whichever corner of the market is cash-rich this year.
Simple plumbing. A standard 1940 Act ETF that generally uses full replication and keeps at least 80% of net assets in index securities. No swaps, no sampling games.
Tighter than a broad index fund at roughly 100 stocks, so the cash-flow screen actually shows up in the portfolio. Distributions come on a quarterly cadence.

SPYV 0.04% a year. VOOV tracks the identical S&P 500 Value Index and charges 0.07%, so this is the same exposure at a lower fee.
Trading since 2000 and now a multi-billion-dollar fund that changes hands actively, so the plumbing is well worn.
No stock picking, no factor secret sauce: it aims to match the S&P 500 Value Index before fees, and it is one of the cleaner implementations in its peer group.ssga.com

Worth knowing

FCFY At 0.60% a year, it runs above the median fee for index-tracking ETFs in its peer group. Plain S&P 500 value funds such as SPYV (0.04%) and VOOV (0.07%) charge a small fraction of that.
A small fund that trades lightly. Spreads can be wider than on mega-cap index ETFs, which makes order type and timing more of a factor than the headline fee.
Launched in 2023, so the live record is short and covers only a narrow slice of market conditions.

SPYV This is one style slice, roughly 400 value-screened names, not the whole S&P 500. It will move differently from the full index.
Value goes through long stretches in and out of favor. The fund follows the index rules either way, with no manager stepping in.
Distributions land quarterly, not monthly.

Full FCFY profile⁠

Full SPYV profile⁠

FCFY vs SPYV Holdings

How FCFY and SPYV differ

Overlap by weight

13.5%

Shared holdings make up 90.2% of FCFY and 14.0% of SPYV.

Level by level

Holdings90 in both13.5%
Sector11 Sectors72.5%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in FCFY and SPYV, widest gap first
Sector	More in FCFYMore in SPYV	FCFY	SPYV
Technology	FCFY +20.7 points	41.5%	20.8%
Communication	FCFY +6.8 points	9.3%	2.5%
Financials	SPYV +5.5 points	9.7%	15.2%
Industrials	SPYV +4.8 points	6.0%	10.8%
Consumer Staples	SPYV +4.6 points	4.4%	9.0%
Health Care	SPYV +4.1 points	9.2%	13.3%
Utilities	SPYV +2.4 points	1.6%	4.0%
Energy	SPYV +2.3 points	5.9%	8.2%
Real Estate	SPYV +1.5 points	1.6%	3.1%
Materials	SPYV +1.4 points	1.9%	3.3%
Consumer Discretionary	SPYV +0.9 points	8.9%	9.8%

Country, concentration and asset class

Country by domicile

Country weights in FCFY and SPYV, widest gap first
Country	More in FCFYMore in SPYV	FCFY	SPYV
United States	FCFY +0.8 points	100.0%	99.2%
Switzerland	SPYV +0.6 points	0.0%	0.6%
Other countries (3)	SPYV +0.2 points	0.0%	0.2%

Concentration

Weight in the 10 largest Holdings

FCFY33.9%
SPYV24.4%

Securities held

FCFY100
SPYV435

Asset class

FCFY: Equity
SPYV: Equity

Holdings

Only in FCFY10
In both90
Only in SPYV345

Only in FCFY

10 securities, 9.7% of FCFY by weight

First Solar, Inc.2.44%
TKO Group Holdings, Inc. (Class A)2.05%
Expedia Group, Inc.1.17%
Vistra Corp.0.99%
Incyte Corporation0.75%
Las Vegas Sands Corp.0.59%
Booking Holdings Inc.0.56%
Uber Technologies, Inc.0.43%
Interactive Brokers Group, Inc. (Class A)0.41%
Newmont Corporation0.32%

Only in SPYV

345 securities, 85.9% of SPYV by weight

Apple Inc8.30%
Amazon.com Inc3.66%
Exxonmobil Holdings Corp2.46%
Walmart Inc1.76%
Intel Corp1.49%
Chevron Corp1.49%
Costco Wholesale Corp1.44%
Tesla Inc1.41%
Procter & Gamble Co/The1.22%
UnitedHealth Group Inc1.20%
Merck & Co. Inc.1.18%
Bank of America Corp1.08%
Home Depot Inc1.07%
Visa Inc Class A Shares1.03%
JPMorgan Chase & Co0.95%
Texas Instruments Inc0.93%
AbbVie Inc0.90%
Johnson & Johnson0.89%
Thermo Fisher Scientific Inc0.85%
Linde PLC0.76%
Analog Devices Inc0.69%
Coca Cola Co/The0.68%
Cisco Systems Inc0.66%
Walt Disney Co/The0.62%
Pepsico Inc0.59%
Verizon Communications Inc0.59%
Abbott Laboratories0.59%
Conocophillips0.59%
Union Pacific Corp0.58%
Nextera Energy Inc0.56%
Pfizer Inc0.56%
Mastercard Inc A0.55%
BlackRock Inc0.55%
Deere & Co0.54%
General Electric0.51%
Eaton Corp PLC0.50%
Danaher Corp0.48%
Schwab (Charles) Corp0.47%
Dell Technologies C0.47%
At+t Inc0.47%
Philip Morris International0.47%
Western Digital Corp0.46%
Vertex Pharmaceuticals Inc0.45%
Palo Alto Networks Inc0.44%
Chubb Ltd0.41%
Prologis Inc0.40%
Starbucks Corp0.39%
Medtronic PLC0.39%
Lowe’s Cos Inc0.38%
Oracle Corp0.38%

Weight gaps

All 90 Holdings in both funds, largest gap first.

Holding weights in FCFY and SPYV, widest gap first
Holding	More in FCFYMore in SPYV	FCFY	SPYV
GoDaddy Inc. (Class A)GDDY	FCFY +3.87 points	3.91%	0.04%
Intuit Inc.INTU	FCFY +3.61 points	3.74%	0.13%
Comcast Corporation (Class A)CMCSA	FCFY +3.45 points	3.71%	0.26%
Gartner, Inc.IT	FCFY +3.28 points	3.33%	0.05%
Accenture plcACN	FCFY +3.27 points	3.76%	0.49%
Adobe IncorporatedADBE	FCFY +3.19 points	3.51%	0.32%
Cognizant Technology Solutions CorporationCTSH	FCFY +3.08 points	3.17%	0.09%
Centene CorporationCNC	FCFY +2.94 points	3.05%	0.11%
HP Inc.HPQ	FCFY +2.83 points	2.92%	0.09%
Gen Digital Inc.GEN	FCFY +2.76 points	2.81%	0.05%
Omnicom Group Inc.OMC	FCFY +2.21 points	2.28%	0.07%
Roper Technologies, Inc.ROP	FCFY +1.98 points	2.12%	0.14%
Workday, Inc. (Class A)WDAY	FCFY +1.87 points	1.94%	0.07%
Autodesk, Inc.ADSK	FCFY +1.85 points	1.92%	0.07%
Synchrony FinancialSYF	FCFY +1.46 points	1.54%	0.08%
Salesforce, Inc.CRM	FCFY +1.44 points	2.06%	0.62%
International Business Machines CorporationIBM	FCFY +1.39 points	1.77%	0.38%
Aptiv PlcAPTV	FCFY +1.37 points	1.40%	0.03%
T-Mobile US, Inc.TMUS	FCFY +1.29 points	1.52%	0.23%
lululemon athletica inc.LULU	FCFY +1.03 points	1.07%	0.04%
Prudential Financial, Inc.PRU	FCFY +0.85 points	0.98%	0.13%
Deckers Outdoor CorporationDECK	FCFY +0.84 points	0.88%	0.04%
Leidos Holdings, Inc.LDOS	FCFY +0.84 points	0.90%	0.06%
Fidelity National Information Services, Inc.FIS	FCFY +0.80 points	0.86%	0.06%
APA CorporationAPA	FCFY +0.79 points	0.85%	0.06%
QUALCOMM IncorporatedQCOM	FCFY +0.78 points	1.43%	0.65%
The Kraft Heinz CompanyKHC	FCFY +0.74 points	0.81%	0.07%
Hasbro, Inc.HAS	FCFY +0.73 points	0.78%	0.05%
Best Buy Co., Inc.BBY	FCFY +0.71 points	0.77%	0.06%
The J.M. Smucker CompanySJM	FCFY +0.70 points	0.74%	0.04%
Expand Energy CorporationEXE	FCFY +0.66 points	0.73%	0.07%
American International Group, Inc.AIG	FCFY +0.64 points	0.78%	0.14%
A.O. Smith CorporationAOS	FCFY +0.59 points	0.61%	0.02%
Dollar Tree, Inc.DLTR	FCFY +0.58 points	0.66%	0.08%
The Allstate CorporationALL	FCFY +0.57 points	0.78%	0.21%
Brown-Forman CorporationBF.B	FCFY +0.56 points	0.58%	0.02%
Pentair plcPNR	FCFY +0.55 points	0.58%	0.03%
Capital One Financial CorporationCOF	FCFY +0.54 points	0.96%	0.42%
Everest Group, Ltd.EG	FCFY +0.53 points	0.58%	0.05%
Stanley Black & Decker, Inc.SWK	FCFY +0.53 points	0.58%	0.05%
EQT CorporationEQT	FCFY +0.53 points	0.64%	0.11%
Hormel Foods CorporationHRL	FCFY +0.50 points	0.52%	0.02%
Constellation Brands, Inc. (Class A)STZ	FCFY +0.50 points	0.56%	0.06%
D.R. Horton, Inc.DHI	FCFY +0.50 points	0.62%	0.12%
Masco CorporationMAS	FCFY +0.49 points	0.54%	0.05%
Align Technology, Inc.ALGN	FCFY +0.48 points	0.51%	0.03%
Fiserv, Inc.FISV	FCFY +0.48 points	0.56%	0.08%
General Motors CompanyGM	FCFY +0.44 points	0.68%	0.24%
The Cigna GroupCI	FCFY +0.43 points	0.69%	0.26%
MetLife, Inc.MET	FCFY +0.42 points	0.60%	0.18%
DaVita Inc.DVA	FCFY +0.42 points	0.44%	0.02%
The Hartford Insurance Group, Inc.HIG	FCFY +0.42 points	0.54%	0.12%
Arch Capital Group Ltd.ACGL	FCFY +0.40 points	0.52%	0.12%
Biogen Inc.BIIB	FCFY +0.40 points	0.52%	0.12%
Invesco Ltd.IVZ	FCFY +0.39 points	0.43%	0.04%
Broadridge Financial Solutions, Inc.BR	FCFY +0.39 points	0.46%	0.07%
PayPal Holdings, Inc.PYPL	FCFY +0.39 points	0.55%	0.16%
General Dynamics CorporationGD	FCFY +0.39 points	0.53%	0.14%
Copart, Inc.CPRT	FCFY +0.38 points	0.46%	0.08%
Zoetis Inc.ZTS	FCFY +0.37 points	0.48%	0.11%
Cardinal Health, Inc.CAH	FCFY +0.37 points	0.56%	0.19%
EOG Resources, Inc.EOG	FCFY +0.36 points	0.64%	0.28%
Snap-on IncorporatedSNA	FCFY +0.35 points	0.41%	0.06%
Wells Fargo & CompanyWFC	SPYV +0.35 points	0.49%	0.84%
CF Industries Holdings, Inc.CF	FCFY +0.34 points	0.40%	0.06%
Alexandria Real Estate Equities, Inc.ARE	FCFY +0.34 points	0.36%	0.02%
Otis Worldwide CorporationOTIS	FCFY +0.31 points	0.40%	0.09%
Lennox International Inc.LII	FCFY +0.29 points	0.33%	0.04%
Albemarle CorporationALB	FCFY +0.27 points	0.31%	0.04%
Paychex, Inc.PAYX	FCFY +0.28 points	0.39%	0.11%
Elevance Health Inc.ELV	FCFY +0.27 points	0.57%	0.30%
L3Harris Technologies, Inc.LHX	FCFY +0.26 points	0.43%	0.17%
NRG Energy, Inc.NRG	FCFY +0.24 points	0.26%	0.02%
Avery Dennison CorporationAVY	FCFY +0.25 points	0.29%	0.04%
Citigroup Inc.C	SPYV +0.24 points	0.45%	0.69%
LyondellBasell Industries N.V.LYB	FCFY +0.22 points	0.27%	0.05%
UDR, Inc.UDR	FCFY +0.22 points	0.25%	0.03%
BXP, Inc.BXP	FCFY +0.21 points	0.24%	0.03%
Gilead Sciences, Inc.GILD	FCFY +0.19 points	0.50%	0.31%
Altria Group, Inc.MO	FCFY +0.19 points	0.61%	0.42%
Invitation Homes Inc.INVH	FCFY +0.19 points	0.24%	0.05%
United Parcel Service, Inc. (Class B)UPS	FCFY +0.16 points	0.42%	0.26%
FedEx CorporationFDX	FCFY +0.16 points	0.38%	0.22%
VICI Properties Inc.VICI	FCFY +0.16 points	0.25%	0.09%
Eversource EnergyES	FCFY +0.16 points	0.24%	0.08%
Marathon Petroleum CorporationMPC	FCFY +0.14 points	0.54%	0.40%
Lockheed Martin CorporationLMT	FCFY +0.14 points	0.57%	0.43%
Simon Property Group, Inc.SPG	FCFY +0.12 points	0.25%	0.13%
Bristol-Myers Squibb CompanyBMY	FCFY +0.11 points	0.52%	0.41%
CVS Health CorporationCVS	FCFY +0.09 points	0.47%	0.38%

All 101 FCFY holdings⁠All 435 SPYV 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.

FCFY vs SPYV Cost

Overpaying FCFY vs SPYV

$10,968

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

FCFY 0.60%
$11,817
SPYV 0.04%
$849

Amount$10,000

Years30 years

Cost over time

FCFY 0.60%
SPYV 0.04%
Overpaying

Year by year

Year	FCFY	SPYV	Overpaying
10	$1,076	$73	$1,003
20	$4,116	$288	$3,828
30	$11,817	$849	$10,968

Expense ratio

0.60%FCFY
0.04%SPYV, cheaper

SPYV0.04%FCFY0.60%

0.03%0.75%

Middle half of Other Major Indexes funds
Median 0.29%

SPYV 2nd cheapest of 42 funds

FCFY 33rd cheapest of 42 funds

FCFY vs SPYV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FCFY 1.23%; SPYV 1.65%, better
Payout (12M): FCFY $0.38; SPYV $1.06
Last payment: FCFY $0.08; SPYV $0.27
Ex-dividend: FCFY Sep 24, 2026; SPYV Sep 21, 2026
Paid on: FCFY Sep 30, 2026; SPYV Sep 23, 2026
Frequency: FCFY Quarterly; SPYV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FCFYQuarterly · 12 paymentsAll FCFY payments⁠

SPYVQuarterly · 39 paymentsAll SPYV payments⁠

FCFY vs SPYV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FCFY 15.7%SPYV 11.7%, better
Return per unit of riskSharpe ratio, 3 years: FCFY 0.97SPYV 1.17, better
Worst fallMax drawdown, 5 years: FCFY −21.4%since Aug 2023SPYV −17.9%
Market sensitivityBeta, 5 years: FCFY 0.99SPYV 0.83; Market = 1

FCFY and SPYV in the news

All news⁠

Best ETFs
Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list
Updated Nov 2, 2026SPYV
Best ETFs
The best value ETF depends on whose list you bought
Updated Oct 2, 2026SPYV

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FCFY vs SPYV

In short

Stated mandate

Why people hold it

Worth knowing

How FCFY and SPYV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FCFY

Only in SPYV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

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 FCFY and SPYV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FCFY

Only in SPYV

Weight gaps