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FV vs ONOF

First Trust Dorsey Wright Focus 5 ETF

FVCNasdaq

Global X Adaptive U.S. Risk Management ETF

ONOFANYSE Arca

Overlap

Expense ratio

ONOF −0.50pt a year

FV0.89%ONOF0.39%

Avg volume · 30D

FV 12.0×the volume

FV69.7KONOF5.82K

5Y return · a year

FV +2.1pt

FV+9.5%ONOF+7.4%

FV vs ONOF Performance

Oct 29, 2021 – Oct 30, 2026

+57.7%FV+42.6%ONOF

Oct 29, 2021 to Oct 30, 2026. FV +57.7%. ONOF +42.6%. Use the arrow keys to read each point.−20%0%20%Oct 2021Apr 2024Oct 2026
Expense ratio
FV 0.89%
ONOF 0.39%, better
Fund size
FV $3.91B
ONOF $140M
1Y total return
FV +22.0%, better
ONOF +7.7%
Yield (12M)
FV 0.35%
ONOF 1.22%, better
Holdings
FV 6
ONOF 504
Avg volume (30D)
FV 69.7K sh, better
ONOF 5.82K sh
NAV per share
FV $75.06
ONOF $40.37
52W range

ETF.net Grade

FV: Cost 21, Risk 41, Mission 89, Tradability 78, Holdings 34, Durability 93. ONOF: Cost 95, Risk 62, Mission not scored, Tradability 59, Holdings 76, Durability 56.
Pillar letters and Scores for FV, ONOF, with each pillar’s weight
PillarFVONOF
Cost30% weightF21A95Higher
Mission25% weightA89Not scored
Risk15% weightC41B62Higher
Tradability15% weightA78HigherB59
Holdings10% weightD34A76Higher
Durability5% weightA93HigherB56

Rank among Trend-Following / Tactical Index funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FV and ONOF are both graded against the same 20 Trend-Following / Tactical Index funds, so their Grades compare head to head.

Trend-Following / Tactical Index⁠

Category · 20 funds
See all 20 ›

ONOF ranks 3rd and FV 13th of 20 funds in the Trend-Following / Tactical Index Category.

  1. Rank 1AWAMAWisdomTree US Adaptive Moving Average FundScore 80
  2. Rank 2APTLCPacer Trendpilot US Large Cap ETFScore 76
  3. Rank 3AONOFGlobal X Adaptive U.S. Risk Management ETFScore 75
  4. Rank 4APTMCPacer Trendpilot US Mid Cap ETFScore 71
  5. Rank 12CPTEUPacer Trendpilot European Index ETFScore 46
  6. Rank 13CFVFirst Trust Dorsey Wright Focus 5 ETFScore 43
  7. Rank 14CTRNDPacer Trendpilot Fund of Funds ETFScore 42

Our read on each fund

ETF.net Research

FVCFirst Trust Dorsey Wright Focus 5 ETF

ONOFAGlobal X Adaptive U.S. Risk Management ETF

In short

FV Sector rotation in one ticker: FV holds five First Trust sector ETFs, equally weighted, chosen by Dorsey Wright relative strength and re-checked twice a month. Momentum investing on autopilot since 2014.

ONOF The ticker says it out loud: ONOF is an on/off switch. Four technical indicators decide whether it owns a broad basket of U.S. stocks or sits in short-term Treasuries. Rules, not hunches.

Stated mandate

FV The ETF seeks to track, before fees and expenses, the price and yield of the Dorsey Wright Focus Five Index. The index uses relative strength to select five First Trust sector and industry ETFs from its universe, reviews selections twice monthly, and equally weights the positions.

ONOF ONOF seeks to track the Adaptive Wealth Strategies U.S. Risk Management Index before fees and expenses. Its four technical indicators shift the Fund between U.S. equities and defensive short-term Treasuries.

Why people hold it

  • FV One ticker does the rotating: relative strength picks five sector and industry ETFs, weights them equally, and reviews the lineup twice a month. No spreadsheet, no manual trades.ftportfolios.com
  • The strategy is stated on the tin. Dorsey Wright's relative strength rules drive every pick, and momentum is advertised rather than buried in the fine print.ftportfolios.com
  • Live since March 2014, now a multi-billion-dollar fund that trades in reasonable size and distributes quarterly. Long track record for a rules-based rotation strategy.
  • ONOF 0.39% a year for a systematic tactical strategy, a fraction of what the typical fund in its tactical-allocation group charges.globalxetfs.com
  • The switch is mechanical. Four technical indicators on the underlying index move it between stocks and Treasuries, so the rulebook is public before you own it.globalxetfs.com
  • The defensive leg is boring on purpose: short-term U.S. Treasuries, not options overlays or shorting.globalxetfs.com
  • Risk-on means roughly 500 U.S. stocks, so the equity exposure is broad-market rather than a concentrated stock-picking bet.globalxetfs.com

Worth knowing

  • FV At 0.89% a year, it sits well above the median for index-tracking funds in its peer group, and a fund-of-funds build means costs sit at two levels.
  • Five equal-weighted sector sleeves is a concentrated book, and whole sectors can enter or exit twice a month, so high turnover is part of the design.ftportfolios.com
  • The selection menu is First Trust's own sector and industry ETFs, not the full universe of funds, so results ride on that lineup.
  • ONOF Trend rules can whipsaw. In choppy markets the signals may step out after a drop and step back in after a bounce, and the fund's path can diverge sharply from the S&P 500.globalxetfs.com
  • It trades lightly compared with big index funds, so bid-ask spreads tend to be wider.
  • Launched in 2021, so its live record covers a short stretch of market history rather than multiple full cycles.

Full FV profile⁠

Full ONOF profile⁠

FV vs ONOF Holdings

As of
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.

FV vs ONOF Cost

Overpaying FV vs ONOF

$8,974

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

  • FV 0.89%

    $16,872

  • ONOF 0.39%

    $7,898

$10,000
30 years

Cost over time

  • FV 0.89%
  • ONOF 0.39%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530FV $16,872ONOF $7,898

Year by year

YearFVONOFOverpaying
10$1,576$705$871
20$5,953$2,725$3,228
30$16,872$7,898$8,974

Expense ratio

  • 0.89%FV
  • 0.39%ONOF, cheaper
  • Middle half of Trend-Following / Tactical Index funds
  • Median 0.67%

ONOF 2nd cheapest of 20 funds

FV 16th cheapest of 20 funds

FV vs ONOF Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FV 0.35%
ONOF 1.22%, better
Payout (12M)
FV $0.26
ONOF $0.49
Last payment
FV $0.08
ONOF $0.16
Ex-dividend
FV Jun 25, 2026
ONOF Jun 29, 2026
Paid on
FV Jun 30, 2026
ONOF Jul 2, 2026
Frequency
FV Quarterly
ONOF Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

FVQuarterly · 32 paymentsAll FV payments⁠
One bar per payment. 32 payments from 2017 to 2026 YTD. Jun 22, 2017 $0.02; Sep 21, 2017 $0.05; Dec 21, 2017 $0.11; Mar 22, 2018 $0.0015; Jun 21, 2018 $0.02; Sep 14, 2018 $0.02; Dec 18, 2018 $0.0008; Mar 21, 2019 $0.01; Jun 14, 2019 $0.0088; Sep 25, 2019 $0.07; Dec 13, 2019 $0.08; Mar 26, 2020 $0.03; Sep 23, 2021 $0.02; Dec 23, 2021 $0.03; Mar 25, 2022 $0.09; Jun 24, 2022 $0.17; Sep 23, 2022 $0.15; Dec 23, 2022 $0.23; Mar 24, 2023 $0.14; Jun 27, 2023 $0.05; Sep 22, 2023 $0.0096; Dec 22, 2023 $0.05; Mar 21, 2024 $0.007; Jun 27, 2024 $0.02; Sep 26, 2024 $0.02; Dec 13, 2024 $0.04; Mar 27, 2025 $0.06; Jun 26, 2025 $0.10; Sep 25, 2025 $0.10; Dec 12, 2025 $0.14; Mar 26, 2026 $0.05; Jun 25, 2026 $0.08. Use the arrow keys to read each point.$0$0.252017202020232026YTD
ONOFTwice a year · 11 paymentsAll ONOF payments⁠
One bar per payment. 11 payments from 2017 to 2026 YTD. Jun 29, 2021 $0.09; Dec 30, 2021 $0.13; Jun 29, 2022 $0.18; Dec 29, 2022 $0.33; Jun 29, 2023 $0.18; Dec 28, 2023 $0.22; Jun 27, 2024 $0.12; Dec 30, 2024 $0.21; Jun 27, 2025 $0.19; Dec 30, 2025 $0.33; Jun 29, 2026 $0.16. Use the arrow keys to read each point.$0$0.252017202020232026YTD

FV vs ONOF Risk

Fall from peak · 5 years

  • FV
  • ONOF
Oct 29, 2021 to Oct 30, 2026. Worst fall: ONOF −26.2% · Jun 2022. Use the arrow keys to read each point.−25%−20%−15%−10%−5%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
FV 17.5%ONOF 12.0%, better
Return per unit of riskSharpe ratio, 3 years
FV 0.97, betterONOF 0.82
Worst fallMax drawdown, 5 years
FV −23.1%, betterONOF −26.2%
Market sensitivityBeta, 5 years
FV 1.24ONOF 0.96

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