FLQM vs VONV: Grades, Fees and Holdings Compared

Franklin U.S. Mid Cap Multifactor Index ETF

FLQMBCboe

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

6.6%by weight

Expense ratio

VONV −0.24pt a year

FLQM0.30%VONV0.06%

Avg volume · 30D

VONV 8.4×the volume

FLQM92.9KVONV776K

5Y return · a year

VONV +4.5pt

FLQM+7.2%VONV+11.7%

FLQM vs VONV Performance

Nov 9, 2021 – Nov 9, 2026

+41.8%FLQM+73.9%VONV

Expense ratio: FLQM 0.30%; VONV 0.06%, better
Fund size: FLQM $1.45B; VONV $21.7B
1Y total return: FLQM +14.5%; VONV +30.6%, better
Yield (12M): FLQM 1.57%, better; VONV 1.51%
Holdings: FLQM 207; VONV 887
Avg volume (30D): FLQM 92.9K sh; VONV 776K sh, better
NAV per share: FLQM $61.52; VONV $112.88
52W range

ETF.net Grade

Pillar letters and Scores for FLQM, VONV, with each pillar’s weight
Pillar	FLQM	VONV
Cost30% weight	C48	A96Higher
Mission25% weight	B67	A100Higher
Risk15% weight	C50	A89Higher
Tradability15% weight	A72Higher	B59
Holdings10% weight	A72Higher	C49
Durability5% weight	B59	A92Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. FLQM 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 FLQM 40th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 39BQGROAmerican Century U.S. Quality Growth ETFScore 60
Rank 40BFLQMFranklin U.S. Mid Cap Multifactor Index ETFScore 59
Rank 40BJOETVirtus Terranova U.S. Quality Momentum ETFScore 59

Our read on each fund

ETF.net Research

FLQMBFranklin U.S. Mid Cap Multifactor Index ETF

VONVAVanguard Russell 1000 Value ETF

In short

FLQM Multifactor investing usually stops at the mega caps. FLQM runs the full four-factor screen (value, quality, momentum, low volatility) through the middle of the US market, landing on roughly 120 names.

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

FLQM The Fund uses a passive indexing approach to seek investment results that closely correspond, before fees and expenses, to the U.S. Mid Cap Underlying 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

FLQM Four screens in one rule set: value, quality, momentum and low volatility, applied to US mid caps rather than the large-cap names most factor funds fish in.
0.30% a year, a shade under the typical fee across its multifactor peer group.
Straight passive indexing against a named, published index, with no manager discretion layered on top. It sits in the upper half of a crowded multifactor field.
Live since 2017, now a multi-billion-dollar fund that trades at moderate volume and pays quarterly.

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

FLQM About 120 stocks is a tighter net than a broad mid-cap index, so each holding carries real weight in the outcome.
Blending four factors means it rarely looks like a plain mid-cap index. When one style is leading the market, this one can move on its own path.
0.30% is real money next to the cheapest names in the same peer group, where FNDX charges 0.25% and VYM 0.04%.

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 FLQM profile⁠

Full VONV profile⁠

FLQM vs VONV Holdings

How FLQM and VONV differ

Overlap by weight

6.6%

Shared holdings make up 85.9% of FLQM and 6.6% of VONV.

Level by level

Holdings176 in both6.6%
Sector11 Sectors83.4%
Countryby domicile98.6%
Asset classStocks100%

Sector

Sector weights in FLQM and VONV, widest gap first
Sector	Gap	FLQM	VONV
Technology	VONV +9.0 points	12.9%	21.9%
Consumer Discretionary	FLQM +5.9 points	16.3%	10.4%
Industrials	FLQM +5.5 points	15.0%	9.5%
Health Care	FLQM +3.4 points	16.8%	13.4%
Materials	VONV +2.1 points	1.2%	3.3%
Consumer Staples	FLQM +1.6 points	8.8%	7.2%
Energy	VONV +1.6 points	4.6%	6.2%
Utilities	VONV +1.5 points	1.9%	3.4%
Financials	VONV +1.3 points	16.6%	17.9%
Communication	VONV +1.0 points	2.4%	3.4%
Real Estate	VONV +0.2 points	3.3%	3.5%

Country, concentration and asset class

Country by domicile

Country weights in FLQM and VONV, widest gap first
Country	Gap	FLQM	VONV
United States	VONV +1.4 points	98.6%	100.0%
Switzerland	FLQM +1.2 points	1.2%	0.0%
India	FLQM +0.3 points	0.3%	0.0%

Concentration

Weight in the 10 largest Holdings

FLQM11.9%
VONV29.8%

Securities held

FLQM205
VONV883

Asset class

FLQM: Stocks
VONV: Stocks

Holdings

Only in FLQM29
In both176
Only in VONV707

Only in FLQM

29 securities, 14.1% of FLQM by weight

Cencora Inc1.17%
Expedia Group Inc1.07%
Autodesk Inc0.98%
Tapestry Inc0.86%
Targa Resources Corp0.85%
Anglogold Ashanti PLC0.83%
Darden Restaurants Inc0.73%
Everest Group Ltd0.70%
Manhattan Associates Inc0.67%
Godaddy Inc - Class A0.55%
Allegion PLC0.54%
Gartner Inc0.52%
Heico Corp-Class A0.52%
Teradyne Inc0.52%
Alnylam Pharmaceuticals I0.49%
Rollins Inc0.44%
Halozyme Therapeutics Inc0.43%
Heico Corp0.38%
Murphy Usa Inc0.36%
Medpace Holdings Inc0.35%
Invesco Ltd0.32%
Appfolio Inc - A0.18%
Las Vegas Sands Corp0.17%
Gap Inc/The0.17%
Chewy Inc - Class A0.09%
Ubiquiti Inc0.08%
Aura Minerals Inc0.05%
Net Current Assets0.04%
Ccp Initial Margin Jpmusd<0.01%

Only in VONV

707 securities, 93.2% of VONV by weight

Amazon.com Inc6.08%
Apple Inc6.06%
Microsoft Corp5.23%
Berkshire Hathaway Inc2.55%
JPMorgan Chase & Co2.43%
ExxonMobil Holdings Corp1.84%
Johnson & Johnson1.75%
Intel Corp1.51%
AbbVie Inc1.17%
Cisco Systems Inc1.17%
Walmart Inc1.14%
Chevron Corp1.04%
Merck & Co Inc0.99%
Procter & Gamble Co/The0.93%
UnitedHealth Group Inc0.91%
Bank of America Corp0.90%
Philip Morris International Inc0.82%
Coca-Cola Co/The0.81%
Meta Platforms Inc0.80%
Thermo Fisher Scientific Inc0.69%
RTX Corp0.69%
Goldman Sachs Group Inc/The0.67%
Wells Fargo & Co0.67%
Costco Wholesale Corp0.62%
Linde PLC0.60%
Morgan Stanley0.58%
International Business Machines Corp0.57%
QUALCOMM Inc0.53%
Verizon Communications Inc0.53%
Gilead Sciences Inc0.51%
Salesforce Inc0.50%
Walt Disney Co/The0.50%
Citigroup Inc0.50%
Analog Devices Inc0.49%
Abbott Laboratories0.47%
Welltower Inc0.46%
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%
Union Pacific Corp0.41%
Charles Schwab Corp/The0.41%
Dell Technologies Inc0.39%
Eaton Corp PLC0.39%
Danaher Corp0.38%
Vertex Pharmaceuticals Inc0.36%

Weight gaps

The 100 widest of 176 Holdings in both funds.

Holding weights in FLQM and VONV, widest gap first
Holding	Gap	FLQM	VONV
Kimberly-Clark CorpKMB	FLQM +1.48 points	1.54%	0.06%
Ulta Beauty IncULTA	FLQM +1.14 points	1.19%	0.05%
Idexx Laboratories IncIDXX	FLQM +1.11 points	1.13%	0.02%
Williams-Sonoma IncWSM	FLQM +1.11 points	1.17%	0.06%
Mettler-Toledo InternatioMTD	FLQM +1.11 points	1.19%	0.08%
Fastenal CoFAST	FLQM +1.10 points	1.13%	0.03%
Ww Grainger IncGWW	FLQM +1.08 points	1.10%	0.02%
Paychex IncPAYX	FLQM +1.05 points	1.14%	0.09%
Arch Capital Group LtdACGL	FLQM +1.05 points	1.13%	0.08%
Cincinnati Financial CorpCINF	FLQM +1.04 points	1.11%	0.07%
Garmin LtdGRMN	FLQM +1.02 points	1.15%	0.13%
Prudential Financial IncPRU	FLQM +1.00 points	1.11%	0.11%
Allstate CorpALL	FLQM +1.00 points	1.16%	0.16%
Waters CorpWAT	FLQM +1.00 points	1.12%	0.12%
American Water Works Co IAWK	FLQM +1.00 points	1.07%	0.07%
Dollar General CorpDG	FLQM +0.98 points	1.05%	0.07%
Ebay IncEBAY	FLQM +0.96 points	1.05%	0.09%
Yum! Brands IncYUM	FLQM +0.95 points	1.02%	0.07%
Veralto CorpVLTO	FLQM +0.94 points	1.00%	0.06%
Kroger CoKR	FLQM +0.93 points	1.02%	0.09%
Becton Dickinson and CoBDX	FLQM +0.91 points	1.05%	0.14%
Sysco CorpSYY	FLQM +0.91 points	0.96%	0.05%
Hartford Insurance GroupHIG	FLQM +0.90 points	0.99%	0.09%
Royalty Pharma Plc- Class ARPRX	FLQM +0.88 points	0.95%	0.07%
Expeditors Intl Wash IncEXPD	FLQM +0.88 points	0.95%	0.07%
Resmed IncRMD	FLQM +0.87 points	0.96%	0.09%
Delta Air Lines IncDAL	FLQM +0.87 points	1.00%	0.13%
Ferguson Enterprises IncFERG	FLQM +0.86 points	0.97%	0.11%
Incyte CorpINCY	FLQM +0.85 points	0.91%	0.06%
Hp IncHPQ	FLQM +0.85 points	0.93%	0.08%
Msci IncMSCI	FLQM +0.85 points	0.95%	0.10%
Otis Worldwide CorpOTIS	FLQM +0.85 points	0.92%	0.07%
Best Buy Co IncBBY	FLQM +0.85 points	0.90%	0.05%
Verisign IncVRSN	FLQM +0.85 points	0.91%	0.06%
Tenet Healthcare CorpTHC	FLQM +0.84 points	0.90%	0.06%
Netapp IncNTAP	FLQM +0.84 points	0.91%	0.07%
United Airlines HoldingsUAL	FLQM +0.84 points	0.93%	0.09%
Omnicom GroupOMC	FLQM +0.82 points	0.88%	0.06%
United Therapeutics CorpUTHR	FLQM +0.81 points	0.87%	0.06%
Hershey Co/TheHSY	FLQM +0.80 points	0.86%	0.06%
Synchrony FinancialSYF	FLQM +0.78 points	0.84%	0.06%
Devon Energy CorpDVN	FLQM +0.75 points	0.89%	0.14%
Viatris IncVTRS	FLQM +0.74 points	0.80%	0.06%
Neurocrine Biosciences InNBIX	FLQM +0.71 points	0.72%	<0.01%
Tractor Supply CompanyTSCO	FLQM +0.69 points	0.74%	0.05%
T Rowe Price Group IncTROW	FLQM +0.69 points	0.75%	0.06%
Steris PLCSTE	FLQM +0.67 points	0.73%	0.06%
Exelixis IncEXEL	FLQM +0.67 points	0.70%	0.03%
Snap-On IncSNA	FLQM +0.66 points	0.71%	0.05%
Markel Group IncMKL	FLQM +0.63 points	0.69%	0.06%
Principal Financial GroupPFG	FLQM +0.62 points	0.69%	0.07%
Zoetis IncZTS	FLQM +0.62 points	0.64%	0.02%
Old Dominion Freight LineODFL	FLQM +0.61 points	0.68%	0.07%
Encompass Health CorpEHC	FLQM +0.62 points	0.65%	0.03%
General Mills IncGIS	FLQM +0.58 points	0.63%	0.05%
F5 IncFFIV	FLQM +0.58 points	0.65%	0.07%
Apa CorpAPA	FLQM +0.57 points	0.61%	0.04%
Genuine Parts CoGPC	FLQM +0.57 points	0.62%	0.05%
C.h. Robinson Worldwide ICHRW	FLQM +0.56 points	0.56%	<0.01%
Ralph Lauren CorpRL	FLQM +0.55 points	0.56%	0.01%
Texas Roadhouse IncTXRH	FLQM +0.54 points	0.56%	0.02%
Cboe Global Markets IncCBOE	FLQM +0.53 points	0.61%	0.08%
Wr Berkley CorpWRB	FLQM +0.53 points	0.57%	0.04%
Ovintiv IncOVV	FLQM +0.53 points	0.57%	0.04%
Bj's Wholesale Club HoldiBJ	FLQM +0.52 points	0.55%	0.03%
Docusign IncDOCU	FLQM +0.52 points	0.55%	0.03%
Edison InternationalEIX	FLQM +0.50 points	0.56%	0.06%
Booz Allen Hamilton HoldiBAH	FLQM +0.50 points	0.52%	0.02%
Nvr IncNVR	FLQM +0.50 points	0.53%	0.03%
Globe Life IncGL	FLQM +0.49 points	0.53%	0.04%
Universal Health ServicesUHS	FLQM +0.48 points	0.50%	0.02%
Leidos Holdings IncLDOS	FLQM +0.47 points	0.51%	0.04%
Omega Healthcare InvestorOHI	FLQM +0.45 points	0.49%	0.04%
Deckers Outdoor CorpDECK	FLQM +0.45 points	0.48%	0.03%
Avery Dennison CorpAVY	FLQM +0.45 points	0.49%	0.04%
Coca-Cola Consolidated InCOKE	FLQM +0.44 points	0.47%	0.03%
Fair Isaac CorpFICO	FLQM +0.43 points	0.44%	<0.01%
Lamar Advertising Co-ALAMR	FLQM +0.43 points	0.46%	0.03%
Clorox CompanyCLX	FLQM +0.42 points	0.45%	0.03%
Fox Corp - Class AFOXA	FLQM +0.41 points	0.44%	0.03%
Sei Investments CompanySEIC	FLQM +0.41 points	0.44%	0.03%
Equity Lifestyle PropertiELS	FLQM +0.40 points	0.43%	0.03%
Permian Resources Corp-ClPR	FLQM +0.40 points	0.44%	0.04%
Lennox International IncLII	FLQM +0.39 points	0.41%	0.02%
Unum GroupUNM	FLQM +0.37 points	0.41%	0.04%
Allison Transmission HoldALSN	FLQM +0.36 points	0.38%	0.02%
Dt Midstream IncDTM	FLQM +0.36 points	0.39%	0.03%
Lululemon Athletica IncLULU	FLQM +0.35 points	0.38%	0.03%
Paycom Software IncPAYC	FLQM +0.35 points	0.37%	0.02%
Toro CoTTC	FLQM +0.34 points	0.36%	0.02%
Affiliated Managers GroupAMG	FLQM +0.33 points	0.36%	0.03%
Kinsale Capital Group IncKNSL	FLQM +0.33 points	0.35%	0.02%
Factset Research SystemsFDS	FLQM +0.32 points	0.35%	0.03%
Ally Financial IncALLY	FLQM +0.30 points	0.33%	0.03%
Donaldson Co IncDCI	FLQM +0.30 points	0.33%	0.03%
Pinterest Inc- Class APINS	FLQM +0.29 points	0.31%	0.02%
Mgic Investment CorpMTG	FLQM +0.29 points	0.30%	0.01%
Old Republic Intl CorpORI	FLQM +0.29 points	0.31%	0.02%
Aes CorpAES	FLQM +0.28 points	0.31%	0.03%
H&R Block IncHRB	FLQM +0.27 points	0.28%	0.01%

All 119 FLQM 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.

FLQM vs VONV Cost

Overpaying FLQM vs VONV

$4,879

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

FLQM 0.30%
$6,149
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

FLQM 0.30%
VONV 0.06%
Overpaying

Year by year

Year	FLQM	VONV	Overpaying
10	$545	$110	$435
20	$2,113	$432	$1,681
30	$6,149	$1,270	$4,879

Expense ratio

0.30%FLQM
0.06%VONV, cheaper

VONV0.06%FLQM0.30%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VONV 4th cheapest of 99 funds

FLQM 51st cheapest of 99 funds

FLQM vs VONV Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FLQM 1.57%, better; VONV 1.51%
Payout (12M): FLQM $0.98; VONV $1.74
Last payment: FLQM $0.19; VONV $0.42
Ex-dividend: FLQM Sep 18, 2026; VONV Sep 23, 2026
Paid on: FLQM Sep 25, 2026; VONV Sep 25, 2026
Frequency: FLQM Quarterly; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FLQMQuarterly · 38 paymentsAll FLQM payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

FLQM vs VONV Risk

Fall from peak · 5 years

FLQM
VONV

Risk facts

VolatilityStd dev, 3 years: FLQM 13.9%VONV 12.1%, better
Return per unit of riskSharpe ratio, 3 years: FLQM 0.81VONV 1.43, better
Worst fallMax drawdown, 5 years: FLQM −22.5%VONV −18.9%, better
Market sensitivityBeta, 5 years: FLQM 0.81VONV 0.85; Market = 1

FLQM 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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FLQM vs VONV

In short

Stated mandate

Why people hold it

Worth knowing

How FLQM and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FLQM

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 FLQM and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FLQM

Only in VONV

Weight gaps