FSCS vs VONV: Grades, Fees and Holdings Compared

First Trust SMID Capital Strength ETF

FSCSCNasdaq

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

2.8%by weight

Expense ratio

VONV −0.54pt a year

FSCS0.60%VONV0.06%

Avg volume · 30D

VONV 134.7×the volume

FSCS5.74KVONV774K

5Y return · a year

VONV +5.7pt

FSCS+6.0%VONV+11.7%

FSCS vs VONV Performance

Oct 29, 2021 – Oct 30, 2026

+34.0%FSCS+73.8%VONV

Expense ratio: FSCS 0.60%; VONV 0.06%, better
Fund size: FSCS $61M; VONV $23.3B
1Y total return: FSCS +7.7%; VONV +28.5%, better
Yield (12M): FSCS 1.23%; VONV 1.53%, better
Holdings: FSCS 101; VONV 873
Avg volume (30D): FSCS 5.74K sh; VONV 774K sh, better
NAV per share: FSCS $37.13; VONV $113.44
52W range

ETF.net Grade

Pillar letters and Scores for FSCS, VONV, with each pillar’s weight
Pillar	FSCS	VONV
Cost30% weight	F15	A96Higher
Mission25% weight	B64	A100Higher
Risk15% weight	C41	A86Higher
Tradability15% weight	C44	B60Higher
Holdings10% weight	B65Higher	C49
Durability5% weight	D38	A93Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. FSCS 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 FSCS 83rd of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 82CFADFirst Trust Multi Cap Growth AlphaDEX FundScore 42
Rank 83CFSCSFirst Trust SMID Capital Strength ETFScore 41
Rank 84CHQGOHartford US Quality Growth ETFScore 40

Our read on each fund

ETF.net Research

FSCSCFirst Trust SMID Capital Strength ETF

VONVAVanguard Russell 1000 Value ETF

In short

FSCS First Trust pointed its Capital Strength screen at the small and mid cap end of the US market: about 100 names picked by rule, not hunch, filtered for quality, growth and lower volatility.

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

FSCS The Fund seeks investment results generally corresponding to the price and yield, before fees and expenses, of the SMID Capital Strength Index. It normally invests at least 80% of net assets, plus investment borrowings, in index securities.

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

FSCS Takes the Capital Strength playbook down the cap ladder: a quality, growth and low-volatility screen applied to US small and mid caps.ftportfolios.com
Rules run the show. It normally keeps at least 80% of net assets in the index's securities, so you get the screen, not a manager's mood.ftportfolios.com
A tight roster of roughly 100 US stocks, with cash paid out 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

FSCS The 0.60% annual fee sits well above the typical US multifactor fund. Broad peers like VONV and FNDX charge a fraction of it.
Thinly traded and modest in assets, so bid-ask spreads can run wider than the household names in the category.
Screening for balance-sheet quality and lower volatility means the portfolio can look nothing like a plain small-cap index, in either direction.

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 FSCS profile⁠

Full VONV profile⁠

FSCS vs VONV Holdings

How FSCS and VONV differ

Overlap by weight

2.8%

Shared holdings make up 69.1% of FSCS and 2.8% of VONV.

Level by level

Holdings69 in both2.8%
Sector11 Sectors63.4%
Countryby domicile93.0%
Asset classEquity100%

Sector

Sector weights in FSCS and VONV, widest gap first
Sector	More in FSCSMore in VONV	FSCS	VONV
Technology	VONV +17.8 points	4.1%	21.9%
Industrials	FSCS +16.8 points	26.3%	9.5%
Financials	FSCS +11.0 points	28.9%	17.9%
Health Care	VONV +6.8 points	6.6%	13.4%
Consumer Staples	FSCS +6.4 points	13.6%	7.2%
Energy	VONV +4.3 points	1.9%	6.2%
Utilities	VONV +3.4 points	0.0%	3.4%
Real Estate	VONV +2.6 points	0.9%	3.5%
Materials	FSCS +2.3 points	5.6%	3.3%
Communication	VONV +1.2 points	2.2%	3.4%
Consumer Discretionary	VONV +0.6 points	9.8%	10.4%

Country, concentration and asset class

Country by domicile

Country weights in FSCS and VONV, widest gap first
Country	More in FSCSMore in VONV	FSCS	VONV
United States	VONV +7.0 points	93.0%	100.0%
Bermuda	FSCS +2.9 points	2.9%	0.0%
Ireland	FSCS +2.1 points	2.1%	0.0%
Puerto Rico	FSCS +1.9 points	1.9%	0.0%

Concentration

Weight in the 10 largest Holdings

FSCS11.2%
VONV29.8%

Securities held

FSCS100
VONV871

Asset class

FSCS: Equity
VONV: Equity

Holdings

Only in FSCS31
In both69
Only in VONV802

Only in FSCS

31 securities, 30.9% of FSCS by weight

Healthcare Services Group, Inc.1.14%
Enerpac Tool Group Corp.1.13%
Napco Security Technologies, Inc.1.08%
Ligand Pharmaceuticals Inc. (Class B)1.08%
ACI Worldwide, Inc.1.07%
United States Lime & Minerals, Inc.1.03%
Mueller Water Products, Inc.1.03%
Federated Hermes, Inc. (Class B)1.02%
Rollins, Inc.1.02%
The St. Joe Company1.01%
Innoviva, Inc.1.00%
ServisFirst Bancshares, Inc.1.00%
Darden Restaurants, Inc.1.00%
Brady Corporation1.00%
Interparfums, Inc.0.99%
National Beverage Corp.0.99%
City Holding Company0.99%
IDT Corporation (Class B)0.99%
Mercury General Corporation0.99%
The Buckle, Inc.0.98%
Green Brick Partners, Inc.0.97%
Hamilton Insurance Group, Ltd. (Class B)0.96%
Dynex Capital, Inc.0.96%
Monarch Casino & Resort, Inc.0.95%
Orchid Island Capital, Inc.0.95%
First BanCorp.0.94%
Zurn Elkay Water Solutions Corp.0.94%
Matson, Inc.0.94%
OFG Bancorp0.93%
REX American Resources Corporation0.92%
Laureate Education, Inc. (Class A)0.84%

Only in VONV

802 securities, 97.1% of VONV by weight

Amazon.com Inc6.09%
Apple Inc6.07%
Microsoft Corp5.24%
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 Inc1.15%
Chevron Corp1.04%
Merck & Co Inc0.99%
Procter & Gamble Co/The0.93%
UnitedHealth Group Inc0.91%
Bank of America Corp0.91%
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 Corp0.63%
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 Corp0.39%
Vertex Pharmaceuticals Inc0.37%

Weight gaps

All 69 Holdings in both funds, largest gap first.

Holding weights in FSCS and VONV, widest gap first
Holding	More in FSCSMore in VONV	FSCS	VONV
Hasbro, Inc.HAS	FSCS +1.16 points	1.19%	0.03%
Allegion Public Limited CompanyALLE	FSCS +1.14 points	1.18%	0.04%
Tetra Tech, Inc.TTEK	FSCS +1.07 points	1.09%	0.02%
Simpson Manufacturing Co., Inc.SSD	FSCS +1.06 points	1.08%	0.02%
Texas Roadhouse, Inc.TXRH	FSCS +1.05 points	1.07%	0.02%
Neurocrine Biosciences, Inc.NBIX	FSCS +1.04 points	1.05%	<0.01%
United Therapeutics CorporationUTHR	FSCS +1.04 points	1.10%	0.06%
A.O. Smith CorporationAOS	FSCS +1.02 points	1.04%	0.02%
PPG Industries, Inc.PPG	FSCS +1.03 points	1.09%	0.06%
The Toro CompanyTTC	FSCS +1.03 points	1.05%	0.02%
Veralto CorporationVLTO	FSCS +1.02 points	1.08%	0.06%
Lincoln Electric Holdings, Inc.LECO	FSCS +1.01 points	1.04%	0.03%
Encompass Health CorporationEHC	FSCS +1.01 points	1.04%	0.03%
Ulta Beauty, Inc.ULTA	FSCS +1.01 points	1.06%	0.05%
The Hanover Insurance Group, Inc.THG	FSCS +1.01 points	1.03%	0.02%
Copart, Inc.CPRT	FSCS +1.00 points	1.06%	0.06%
American Financial Group, Inc.AFG	FSCS +1.00 points	1.02%	0.02%
Incyte CorporationINCY	FSCS +0.99 points	1.05%	0.06%
West Pharmaceutical Services, Inc.WST	FSCS +0.99 points	1.06%	0.07%
Zions Bancorporation, National AssociationZION	FSCS +0.98 points	1.01%	0.03%
Ralph Lauren CorporationRL	FSCS +0.99 points	1.00%	0.01%
Avery Dennison CorporationAVY	FSCS +0.98 points	1.02%	0.04%
Halliburton CompanyHAL	FSCS +0.99 points	1.06%	0.07%
Cincinnati Financial CorporationCINF	FSCS +0.98 points	1.05%	0.07%
Assurant, Inc.AIZ	FSCS +0.98 points	1.02%	0.04%
The Ensign Group, Inc.ENSG	FSCS +0.98 points	1.01%	0.03%
Jazz Pharmaceuticals PlcJAZZ	FSCS +0.97 points	1.01%	0.04%
Cullen/Frost Bankers, Inc.CFR	FSCS +0.98 points	1.00%	0.02%
McCormick & Company, IncorporatedMKC	FSCS +0.98 points	1.01%	0.03%
Cirrus Logic, Inc.CRUS	FSCS +0.97 points	0.99%	0.02%
RPM International Inc.RPM	FSCS +0.97 points	1.00%	0.03%
East West Bancorp, Inc.EWBC	FSCS +0.97 points	1.02%	0.05%
NVR, Inc.NVR	FSCS +0.96 points	0.99%	0.03%
Church & Dwight Co., Inc.CHD	FSCS +0.96 points	1.02%	0.06%
MSA Safety IncorporatedMSA	FSCS +0.96 points	0.98%	0.02%
Arch Capital Group Ltd.ACGL	FSCS +0.96 points	1.04%	0.08%
T. Rowe Price Group, Inc.TROW	FSCS +0.95 points	1.01%	0.06%
Primerica, Inc.PRI	FSCS +0.96 points	0.98%	0.02%
Kimberly-Clark CorporationKMB	FSCS +0.95 points	1.01%	0.06%
Corpay, Inc.CPAY	FSCS +0.95 points	0.99%	0.04%
Popular, Inc.BPOP	FSCS +0.95 points	0.97%	0.02%
AGNC Investment Corp.AGNC	FSCS +0.94 points	0.97%	0.03%
Old Republic International CorporationORI	FSCS +0.95 points	0.97%	0.02%
SEI Investments CompanySEIC	FSCS +0.94 points	0.97%	0.03%
Stifel Financial Corp.SF	FSCS +0.94 points	0.97%	0.03%
W.R. Berkley CorporationWRB	FSCS +0.94 points	0.98%	0.04%
Nordson CorporationNDSN	FSCS +0.93 points	0.98%	0.05%
Expeditors International of Washington, Inc.EXPD	FSCS +0.93 points	1.00%	0.07%
Watts Water Technologies, Inc.WTS	FSCS +0.93 points	0.96%	0.03%
Williams-Sonoma, Inc.WSM	FSCS +0.93 points	0.99%	0.06%
RenaissanceRe Holdings Ltd.RNR	FSCS +0.92 points	0.96%	0.04%
Crane CompanyCR	FSCS +0.92 points	0.95%	0.03%
Northern Trust CorporationNTRS	FSCS +0.92 points	1.00%	0.08%
Raymond James Financial, Inc.RJF	FSCS +0.92 points	0.99%	0.07%
Gentex CorporationGNTX	FSCS +0.91 points	0.92%	0.01%
Clean Harbors, Inc.CLH	FSCS +0.90 points	0.94%	0.04%
Valmont Industries, Inc.VMI	FSCS +0.91 points	0.93%	0.02%
Snap-on IncorporatedSNA	FSCS +0.90 points	0.95%	0.05%
Donaldson Company, Inc.DCI	FSCS +0.90 points	0.93%	0.03%
The Hershey CompanyHSY	FSCS +0.90 points	0.96%	0.06%
Globe Life Inc.GL	FSCS +0.89 points	0.93%	0.04%
Grand Canyon Education, Inc.LOPE	FSCS +0.89 points	0.90%	<0.01%
The Hartford Insurance Group, Inc.HIG	FSCS +0.88 points	0.97%	0.09%
ResMed Inc.RMD	FSCS +0.86 points	0.95%	0.09%
Mueller Industries, Inc.MLI	FSCS +0.85 points	0.89%	0.04%
Applied Industrial Technologies, Inc.AIT	FSCS +0.85 points	0.88%	0.03%
Hubbell IncorporatedHUBB	FSCS +0.83 points	0.90%	0.07%
Landstar System, Inc.LSTR	FSCS +0.81 points	0.82%	0.01%
Graco Inc.GGG	FSCS +0.78 points	0.81%	0.03%

All 100 FSCS holdings⁠All 872 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.

FSCS vs VONV Cost

Overpaying FSCS vs VONV

$10,547

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

FSCS 0.60%
$11,817
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

FSCS 0.60%
VONV 0.06%
Overpaying

Year by year

Year	FSCS	VONV	Overpaying
10	$1,076	$110	$966
20	$4,116	$432	$3,684
30	$11,817	$1,270	$10,547

Expense ratio

0.60%FSCS
0.06%VONV, cheaper

VONV0.06%FSCS0.60%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VONV 4th cheapest of 99 funds

FSCS 82nd cheapest of 99 funds

FSCS vs VONV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FSCS 1.23%; VONV 1.53%, better
Payout (12M): FSCS $0.46; VONV $1.74
Last payment: FSCS $0.14; VONV $0.42
Ex-dividend: FSCS Sep 24, 2026; VONV Sep 23, 2026
Paid on: FSCS Sep 30, 2026; VONV Sep 25, 2026
Frequency: FSCS Quarterly; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FSCSQuarterly · 37 paymentsAll FSCS payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

FSCS vs VONV Risk

Fall from peak · 5 years

FSCS
VONV

Risk facts

VolatilityStd dev, 3 years: FSCS 14.7%VONV 12.1%, better
Return per unit of riskSharpe ratio, 3 years: FSCS 0.64VONV 1.43, better
Worst fallMax drawdown, 5 years: FSCS −21.2%VONV −18.9%, better
Market sensitivityBeta, 5 years: FSCS 0.76VONV 0.85; Market = 1

FSCS and VONV in the news

All news⁠

Best ETFs
Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list
Updated Nov 2, 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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FSCS vs VONV

In short

Stated mandate

Why people hold it

Worth knowing

How FSCS and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FSCS

Only in VONV

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

US multifactor funds ran 30 points apart

How FSCS and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FSCS

Only in VONV

Weight gaps