FLCC vs VV: Grades, Fees and Holdings Compared

Federated Hermes MDT Large Cap Core ETF

FLCCCNYSE Arca

Vanguard Morningstar Large-Cap ETF

VVANYSE Arca

Overlap

49.1%by weight

Expense ratio

VV −0.26pt a year

FLCC0.29%VV0.03%

Avg volume · 30D

VV 7.7×the volume

FLCC29KVV223K

FLCC vs VV Performance

Oct 31, 2025 – Oct 30, 2026

+12.3%FLCC+11.5%VV

Expense ratio: FLCC 0.29%; VV 0.03%, better
Fund size: FLCC $181M; VV $76B
1Y total return: FLCC +12.3%, better; VV +11.5%
Yield (12M): FLCC 0.45%; VV 1.03%, better
Holdings: FLCC 154; VV 423
Avg volume (30D): FLCC 29K sh; VV 223K sh, better
NAV per share: FLCC $36.65; VV $348.06
52W range

ETF.net Grade

Pillar letters and Scores for FLCC, VV, with each pillar’s weight
Pillar	FLCC	VV
Cost30% weight	D39	A91Higher
Mission25% weight	Not scored	A99
Risk15% weight	C42	B55Higher
Tradability15% weight	D38	B57Higher
Holdings10% weight	B60Higher	C51
Durability5% weight	D37	A93Higher

Rank among US Large-Cap funds

How we build Categories ›

Same Category. FLCC and VV are both graded against the same 29 US Large-Cap funds, so their Grades compare head to head.

US Large-Cap⁠

Category · 29 funds

See all 29 ›

VV ranks 4th and FLCC 22nd of 29 funds in the US Large-Cap Category.

Rank 1ASCHXSchwab U.S. Large-Cap ETFScore 83
Rank 2ABKLCBNY Mellon US Large Cap Core Equity ETFScore 82
Rank 3AEPSWisdomTree U.S. LargeCap FundScore 80
Rank 4AVVVanguard Morningstar Large-Cap ETFScore 78
Rank 5AIWBiShares Russell 1000 ETFScore 77
Rank 21CNBCRNeuberger Berman Core Equity ETFScore 42
Rank 22CFLCCFederated Hermes MDT Large Cap Core ETFScore 41
Rank 23CGXLCGlobal X U.S. 500 ETFScore 40

Our read on each fund

ETF.net Research

FLCCCFederated Hermes MDT Large Cap Core ETF

VVAVanguard Morningstar Large-Cap ETF

In short

FLCC A model, not a committee, picks the roughly 150 large-cap US stocks here. Federated Hermes put its MDT quant team into an ETF wrapper in 2024, building a core-shaped portfolio instead of tracking an index.

VV Vanguard's rules-based read on large cap: own whatever sits in the top 85% of the US market, about 500 names, for 0.03% a year. Running since 2004.

Stated mandate

FLCC The fund seeks long-term capital appreciation primarily through common stocks of large-capitalization U.S. companies.

VV The fund seeks to track the CRSP US Large Cap Index through a passive, full-replication strategy focused predominantly on large U.S. companies diversified across growth and value styles.

Why people hold it

FLCC Genuinely active: a quantitative screen does the stock picking, aimed at long-term capital appreciation from large-cap US companies rather than mirroring a benchmark.
The model costs 0.29% net of a waiver through May 1, 2027, against a 0.40% gross fee. Restrained pricing for a stock-picking mandate.
Roughly 150 US stocks under the hood, so no single name carries the portfolio.

VV Charges 0.03% a year against a 0.14% median for its large-cap peer group. Among the cohort's top names, only SCHX matches that fee.
Full replication: it buys every stock in the index at roughly index weight, and it has tracked that benchmark very closely.vanguard.com
The ETF share class of a Vanguard index fund launched in 2004, now a multi-billion-dollar strategy with mutual fund siblings alongside it.vanguard.com
Cost, tracking and staying power put it in the top tier of a crowded 24-fund large-cap cohort.

Worth knowing

FLCC Fees sit above the large-cap core median, where index trackers set the floor: SCHX at 0.03%, BKLC at 0.00%.
Thin trading next to the category's index giants, which can mean wider bid-ask spreads on larger orders.
Dates to 2024, a far shorter record than the index veterans beside it, and distributions arrive once or twice a year rather than quarterly.

VV Market-cap weighted, so the biggest US companies (and their sector tilts) carry most of the weight.vanguard.com
The index stops at the top 85% of US investable market cap: mid- and small-cap names sit outside it.vanguard.com
After Morningstar acquired CRSP, the benchmark and the fund name picked up the Morningstar label. Same index, same fund.vanguard.com vanguard.com 2

Full FLCC profile⁠

Full VV profile⁠

FLCC vs VV Holdings

How FLCC and VV differ

Overlap by weight

49.1%

Shared holdings make up 86.3% of FLCC and 62.7% of VV.

Level by level

Holdings110 in both49.1%
Sector11 Sectors95.8%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in FLCC and VV, widest gap first
Sector	More in FLCCMore in VV	FLCC	VV
Communication	VV +1.8 points	8.2%	10.0%
Materials	FLCC +1.2 points	2.8%	1.6%
Consumer Staples	VV +1.1 points	3.2%	4.3%
Health Care	FLCC +1.0 points	10.2%	9.2%
Utilities	VV +0.7 points	1.0%	1.7%
Technology	FLCC +0.6 points	41.7%	41.1%
Industrials	FLCC +0.5 points	8.1%	7.6%
Energy	VV +0.5 points	3.0%	3.5%
Consumer Discretionary	FLCC +0.5 points	8.8%	8.3%
Financials	FLCC +0.3 points	11.6%	11.3%
Real Estate	VV +0.1 points	1.4%	1.5%

Country, concentration and asset class

Country by domicile

Country weights in FLCC and VV, widest gap first
Country	More in FLCCMore in VV	FLCC	VV
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

FLCC36.4%
VV39.5%

Securities held

FLCC153
VV422

Asset class

FLCC: Equity
VV: Equity

Holdings

Only in FLCC43
In both110
Only in VV312

Only in FLCC

43 securities, 13.7% of FLCC by weight

Fiserv Inc1.65%
Maplebear Inc0.93%
Viking Holdings Ltd0.78%
Advance Auto Parts Inc0.73%
Lululemon Athletica Inc0.66%
Kilroy Realty Corp0.66%
Five Below0.57%
Johnson Controls Internat0.53%
Federated Govt Obli Fd-Pr0.52%
Allison Transmission Hold0.50%
Paycom Software Inc0.49%
Celanese Corp0.47%
Costar Group Inc0.39%
Gartner Inc0.35%
Murphy Usa Inc0.34%
Illumina Inc0.34%
Cirrus Logic Inc0.31%
Virtu Financial Inc-Class0.27%
Alcoa Corp0.27%
Ryder System Inc0.26%
Elanco Animal Health Inc0.25%
Weatherford International0.21%
Allegion PLC0.21%
Curtiss-Wright Corp0.21%
Trade Desk Inc/The -Class0.17%
Tyler Technologies Inc0.15%
Align Technology Inc0.15%
Albemarle Corp0.14%
Pegasystems Inc0.13%
Dxc Technology Co0.13%
Enphase Energy Inc0.13%
Pinterest Inc- Class A0.11%
Gaming and Leisure Proper0.10%
Lennox International Inc0.09%
Deckers Outdoor Corp0.08%
Wp Carey Inc0.08%
Manpowergroup Inc0.07%
Coupang Inc0.06%
Zoominfo Technologies Inc0.06%
Western Union Co0.06%
Rubrik Inc-A0.04%
Net Current Assets0.02%
Fmc Corp0.01%

Only in VV

312 securities, 37.3% of VV by weight

Alphabet Inc2.49%
Berkshire Hathaway Inc1.35%
Visa Inc0.88%
Mastercard Inc0.67%
Palantir Technologies Inc0.64%
Chevron Corp0.60%
Bank of America Corp0.56%
Merck & Co Inc0.56%
Procter & Gamble Co/The0.52%
Coca-Cola Co/The0.52%
Palo Alto Networks Inc0.50%
Philip Morris International Inc0.46%
Home Depot Inc/The0.44%
Thermo Fisher Scientific Inc0.39%
Wells Fargo & Co0.38%
Oracle Corp0.37%
Marvell Technology Inc0.36%
Linde PLC0.34%
Citigroup Inc0.34%
Seagate Technology Holdings PLC0.32%
Amphenol Corp0.32%
International Business Machines Corp0.32%
Walt Disney Co/The0.28%
Salesforce Inc0.28%
Deere & Co0.27%
Abbott Laboratories0.27%
AT&T Inc0.26%
Eaton Corp PLC0.26%
McDonald's Corp0.25%
Pfizer Inc0.25%
Union Pacific Corp0.25%
NextEra Energy Inc0.25%
Dell Technologies Inc0.24%
American Express Co0.24%
ConocoPhillips0.23%
Blackrock Inc0.23%
Boeing Co/The0.23%
TJX Cos Inc/The0.23%
Intuitive Surgical Inc0.22%
Danaher Corp0.22%
ServiceNow Inc0.22%
Prologis Inc0.19%
Booking Holdings Inc0.19%
Progressive Corp/The0.19%
Parker-Hannifin Corp0.19%
Capital One Financial Corp0.18%
S&P Global Inc0.18%
Chubb Ltd0.18%
Accenture PLC0.17%
Cloudflare Inc0.17%

Weight gaps

The 100 widest of 110 Holdings in both funds.

Holding weights in FLCC and VV, widest gap first
Holding	More in FLCCMore in VV	FLCC	VV
Microsoft CorpMSFT	VV +2.10 points	3.82%	5.92%
Alphabet Inc-Cl AGOOGL	FLCC +2.09 points	5.23%	3.14%
Meta Platforms Inc-ClassMETA	VV +1.79 points	0.69%	2.48%
AbbVie IncABBV	FLCC +1.69 points	2.41%	0.72%
Bank of New York Mellon CBNY	FLCC +1.68 points	1.83%	0.15%
State Street CorpSTT	FLCC +1.64 points	1.71%	0.07%
General ElectricGE	FLCC +1.41 points	1.91%	0.50%
Travelers Cos Inc/TheTRV	FLCC +1.36 points	1.48%	0.12%
Costco Wholesale CorpCOST	FLCC +1.34 points	1.97%	0.63%
Prudential Financial IncPRU	FLCC +1.22 points	1.28%	0.06%
Fortinet IncFTNT	FLCC +1.22 points	1.39%	0.17%
Ameriprise Financial IncAMP	FLCC +1.21 points	1.28%	0.07%
Northern Trust CorpNTRS	FLCC +1.17 points	1.22%	0.05%
Crowdstrike Holdings IncCRWD	FLCC +1.11 points	1.51%	0.40%
Intuit IncINTU	FLCC +1.07 points	1.19%	0.12%
Advanced Micro DevicesAMD	VV +1.06 points	0.49%	1.55%
Apple IncAAPL	VV +1.04 points	6.51%	7.55%
Tesla IncTSLA	VV +1.01 points	0.54%	1.55%
Veralto CorpVLTO	FLCC +1.00 points	1.04%	0.04%
Texas Instruments IncTXN	FLCC +0.99 points	1.39%	0.40%
Rtx CorpRTX	FLCC +0.89 points	1.28%	0.39%
Amazon.com IncAMZN	VV +0.79 points	2.97%	3.76%
Broadcom IncAVGO	VV +0.79 points	1.81%	2.60%
Newmont CorpNEM	FLCC +0.77 points	0.96%	0.19%
Regeneron PharmaceuticalsREGN	FLCC +0.76 points	0.88%	0.12%
Analog Devices IncADI	FLCC +0.73 points	1.03%	0.30%
Arista Networks IncANET	FLCC +0.73 points	1.07%	0.34%
JPMorgan Chase & CoJPM	VV +0.71 points	0.66%	1.37%
Micron Technology IncMU	VV +0.68 points	1.19%	1.87%
Netflix IncNFLX	FLCC +0.68 points	1.13%	0.45%
Netapp IncNTAP	FLCC +0.67 points	0.73%	0.06%
Veeva Systems Inc-Class AVEEV	FLCC +0.67 points	0.73%	0.06%
Ge Vernova IncGEV	FLCC +0.64 points	1.03%	0.39%
Amgen IncAMGN	FLCC +0.58 points	0.93%	0.35%
Gilead Sciences IncGILD	FLCC +0.56 points	0.85%	0.29%
Marathon Petroleum CorpMPC	FLCC +0.52 points	0.69%	0.17%
Expedia Group IncEXPE	FLCC +0.50 points	0.55%	0.05%
Kla CorpKLAC	FLCC +0.49 points	0.89%	0.40%
Boston Scientific CorpBSX	FLCC +0.40 points	0.50%	0.10%
Charter Communications InCHTR	FLCC +0.39 points	0.40%	<0.01%
Phillips 66PSX	FLCC +0.38 points	0.54%	0.16%
Cummins IncCMI	FLCC +0.38 points	0.49%	0.11%
Exelon CorpEXC	FLCC +0.36 points	0.42%	0.06%
Cvs Health CorpCVS	FLCC +0.35 points	0.52%	0.17%
Southwest Airlines CoLUV	FLCC +0.34 points	0.36%	0.02%
Duke Energy CorpDUK	FLCC +0.32 points	0.46%	0.14%
Interactive Brokers Gro-CIBKR	FLCC +0.32 points	0.38%	0.06%
Snowflake IncSNOW	FLCC +0.32 points	0.49%	0.17%
Caterpillar IncCAT	VV +0.29 points	0.29%	0.58%
Cardinal Health IncCAH	FLCC +0.27 points	0.35%	0.08%
General Motors CoGM	FLCC +0.25 points	0.36%	0.10%
Intel CorpINTC	VV +0.25 points	0.59%	0.84%
Verizon Communications InVZ	VV +0.25 points	0.05%	0.30%
Exxonmobil Holdings CorpXOM	VV +0.24 points	0.81%	1.05%
Trane Technologies PLCTT	FLCC +0.23 points	0.38%	0.15%
NVIDIA CorpNVDA	VV +0.22 points	7.90%	8.12%
Cisco Systems IncCSCO	FLCC +0.22 points	0.81%	0.59%
Ppg Industries IncPPG	FLCC +0.21 points	0.25%	0.04%
PayPal Holdings IncPYPL	FLCC +0.21 points	0.25%	0.04%
Schwab (Charles) CorpSCHW	VV +0.19 points	0.06%	0.25%
Eli Lilly & CoLLY	VV +0.19 points	1.33%	1.52%
General Dynamics CorpGD	FLCC +0.19 points	0.32%	0.13%
Qualcomm IncQCOM	VV +0.19 points	0.11%	0.30%
Eog Resources IncEOG	FLCC +0.19 points	0.30%	0.11%
Ulta Beauty IncULTA	FLCC +0.18 points	0.22%	0.04%
Applied Materials IncAMAT	FLCC +0.18 points	0.81%	0.63%
Walmart IncWMT	VV +0.18 points	0.53%	0.71%
Hartford Insurance GroupHIG	FLCC +0.18 points	0.23%	0.05%
Steel Dynamics IncSTLD	FLCC +0.18 points	0.20%	0.02%
Qnity Electronics IncQ	FLCC +0.16 points	0.18%	0.02%
Welltower IncWELL	VV +0.16 points	0.10%	0.26%
Atlassian Corp-Cl ATEAM	FLCC +0.16 points	0.20%	0.04%
Corning IncGLW	VV +0.16 points	0.03%	0.19%
Johnson & JohnsonJNJ	VV +0.14 points	0.84%	0.99%
Vertiv Holdings Co-AVRT	VV +0.14 points	<0.01%	0.14%
Pepsico IncPEP	VV +0.14 points	0.13%	0.27%
Vertex Pharmaceuticals InVRTX	VV +0.14 points	0.07%	0.21%
Sandisk CorpSNDK	VV +0.14 points	0.26%	0.40%
Western Digital CorpWDC	FLCC +0.14 points	0.38%	0.24%
Arch Capital Group LtdACGL	FLCC +0.13 points	0.18%	0.05%
Airbnb Inc-Class AABNB	FLCC +0.13 points	0.23%	0.10%
First Solar IncFSLR	FLCC +0.12 points	0.13%	0.01%
Lam Research CorpLRCX	VV +0.11 points	0.53%	0.64%
Hewlett Packard EnterprisHPE	FLCC +0.11 points	0.23%	0.12%
Keysight Technologies InKEYS	FLCC +0.10 points	0.20%	0.10%
Bristol-Myers Squibb CoBMY	FLCC +0.10 points	0.30%	0.20%
Goldman Sachs Group IncGS	VV +0.09 points	0.29%	0.38%
Ross Stores IncROST	VV +0.09 points	0.03%	0.12%
Northrop Grumman CorpNOC	VV +0.09 points	0.02%	0.11%
Dte Energy CompanyDTE	FLCC +0.08 points	0.12%	0.04%
Lockheed Martin CorpLMT	FLCC +0.07 points	0.25%	0.18%
Morgan StanleyMS	VV +0.07 points	0.27%	0.34%
Targa Resources CorpTRGP	VV +0.07 points	0.02%	0.09%
Humana IncHUM	FLCC +0.07 points	0.14%	0.07%
Cboe Global Markets IncCBOE	FLCC +0.07 points	0.11%	0.04%
Occidental Petroleum CorpOXY	FLCC +0.07 points	0.13%	0.06%
Allstate CorpALL	VV +0.06 points	0.03%	0.09%
Kimberly-Clark CorpKMB	VV +0.05 points	<0.01%	0.05%
Adobe IncADBE	FLCC +0.04 points	0.19%	0.15%
UnitedHealth Group IncUNH	FLCC +0.04 points	0.55%	0.51%

All 151 FLCC holdings⁠All 479 VV 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.

FLCC vs VV Cost

Overpaying FLCC vs VV

$5,314

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

FLCC 0.29%
$5,952
VV 0.03%
$638

Amount$10,000

Years30 years

Cost over time

FLCC 0.29%
VV 0.03%
Overpaying

Year by year

Year	FLCC	VV	Overpaying
10	$527	$55	$472
20	$2,044	$216	$1,828
30	$5,952	$638	$5,314

Expense ratio

0.29%FLCC
0.03%VV, cheaper

VV0.03%FLCC0.29%

0.00%1.25%

Middle half of US Large-Cap funds
Median 0.20%

VV 3rd cheapest of 29 funds

FLCC 18th cheapest of 29 funds

FLCC vs VV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FLCC 0.45%; VV 1.03%, better
Payout (12M): FLCC $0.16; VV $3.60
Last payment: FLCC $0.16; VV $0.90
Ex-dividend: FLCC Dec 31, 2025; VV Sep 28, 2026
Paid on: FLCC Jan 2, 2026; VV Sep 30, 2026
Frequency: FLCC Irregular; VV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FLCCIrregular · 2 paymentsAll FLCC payments⁠

VVQuarterly · 39 paymentsAll VV payments⁠

FLCC vs VV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FLCC 12.5%since Aug 2024VV 12.5%
Return per unit of riskSharpe ratio, 3 years: FLCC 0.99since Aug 2024VV 1.41
Worst fallMax drawdown, 5 years: FLCC −19.2%since Jul 2024VV −25.7%
Market sensitivityBeta, 5 years: FLCC 0.91VV 1.02; Market = 1

FLCC and VV in the news

All news⁠

Head-to-Head
IVW vs. VV: iShares’ growth ETF holds almost nothing Vanguard’s doesn’t, at six times the fee
Oct 28, 2026VV
Category Review
Broad U.S. large-cap funds kept pace with the S&P 500 this year. The top 50 did not.
Updated Oct 16, 2026VV

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FLCC vs VV

In short

Stated mandate

Why people hold it

Worth knowing

How FLCC and VV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FLCC

Only in VV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

IVW vs. VV: iShares’ growth ETF holds almost nothing Vanguard’s doesn’t, at six times the fee

Broad U.S. large-cap funds kept pace with the S&P 500 this year. The top 50 did not.

How FLCC and VV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FLCC

Only in VV

Weight gaps