GVUS vs VONV: Grades, Fees and Holdings Compared

Goldman Sachs MarketBeta Russell 1000 Value Equity ETF

GVUSANYSE Arca

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

91.6%by weight

Expense ratio

VONV −0.06pt a year

GVUS0.12%VONV0.06%

Avg volume · 30D

VONV 37.0×the volume

GVUS21KVONV776K

GVUS vs VONV Performance

Nov 7, 2025 – Nov 9, 2026

+30.9%GVUS+30.6%VONV

Expense ratio: GVUS 0.12%; VONV 0.06%, better
Fund size: GVUS $449M; VONV $21.7B
1Y total return: GVUS +30.9%, better; VONV +30.6%
Yield (12M): GVUS 1.43%; VONV 1.51%, better
Holdings: GVUS 860; VONV 887
Avg volume (30D): GVUS 21K sh; VONV 776K sh, better
NAV per share: GVUS $66.07; VONV $112.88
52W range

ETF.net Grade

Pillar letters and Scores for GVUS, VONV, with each pillar’s weight
Pillar	GVUS	VONV
Cost30% weight	A91	A96Higher
Mission25% weight	A100	A100
Risk15% weight	A85	A89Higher
Tradability15% weight	C43	B59Higher
Holdings10% weight	C49	C49
Durability5% weight	C47	A92Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. GVUS 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 GVUS 9th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 7AQUSState Street SPDR MSCI USA StrategicFactors ETFScore 79
Rank 9AGVUSGoldman Sachs MarketBeta Russell 1000 Value Equity ETFScore 78
Rank 9AIUSGiShares Core S&P U.S. Growth ETFScore 78

Our read on each fund

ETF.net Research

GVUSAGoldman Sachs MarketBeta Russell 1000 Value Equity ETF

VONVAVanguard Russell 1000 Value ETF

In short

GVUS Goldman's plain-vanilla shelf, not its quant shop. GVUS tracks a daily-capped Russell 1000 Value index for 0.12% a year: roughly 900 large- and mid-cap value names, no overlay, no tilt, no manager's opinion.

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

GVUS The Fund seeks to track, before fees and expenses, the performance of an underlying index representing the large- and mid-capitalization value segment of U.S. equity issuers.

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

GVUS Charges 0.12% a year against a 0.32% median for its factor peer group. Index-fund pricing with a Goldman nameplate.
Tracks its benchmark tightly, one of the cleanest index implementations in its peer group.
Roughly 900 large- and mid-cap value stocks, sorted by Russell's published style rules rather than anyone's stock picks.gs.com
The benchmark is the 40 Act Daily Capped version: FTSE Russell watches weights daily to keep single names under 1940 Act diversification thresholds. Concentration control is built into the index.ftserussell.com

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

GVUS One of the thinner-traded names in its category. Spreads matter more here than with the household-name value funds, so limit orders earn their keep.
Launched in late 2023, so the live record is short next to Russell 1000 Value trackers with decades behind them.
Cheap, not cheapest: Vanguard's VONV runs the same Russell 1000 Value exposure at 0.06%.

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 GVUS profile⁠

Full VONV profile⁠

GVUS vs VONV Holdings

How GVUS and VONV differ

Overlap by weight

91.6%

Shared holdings make up 95.3% of VONV and 95.3% of GVUS.

Level by level

Holdings817 in both91.6%
Sector11 Sectors98.0%
Countryby domicile99.2%
Asset classStocks100%

Sector

Sector weights in GVUS and VONV, widest gap first
Sector	Gap	GVUS	VONV
Technology	VONV +1.1 points	20.8%	21.9%
Energy	GVUS +0.6 points	6.8%	6.2%
Consumer Staples	GVUS +0.5 points	7.7%	7.2%
Communication	VONV +0.5 points	2.9%	3.4%
Health Care	GVUS +0.3 points	13.7%	13.4%
Financials	GVUS +0.3 points	18.2%	17.9%
Consumer Discretionary	VONV +0.3 points	10.1%	10.4%
Utilities	GVUS +0.2 points	3.6%	3.4%
Materials	VONV +0.1 points	3.1%	3.3%
Industrials	GVUS +0.1 points	9.6%	9.5%
Real Estate	Same weight	3.5%	3.5%

Country, concentration and asset class

Country by domicile

Country weights in GVUS and VONV, widest gap first
Country	More in GVUSMore in VONV	Gap	GVUS	VONV
United States		VONV +0.8 points	99.2%	100.0%
Other countries (10)		GVUS +0.8 points	0.8%	0.0%

Concentration

Weight in the 10 largest Holdings

GVUS29.7%
VONV29.8%

Securities held

GVUS859
VONV883

Asset class

GVUS: Stocks
VONV: Stocks

Holdings

Only in GVUS42
In both817
Only in VONV66

Only in GVUS

42 securities, 4.5% of GVUS by weight

Linde PLC0.63%
Accenture PLC0.42%
Medtronic Public Limited Company0.35%
Chubb Limited0.34%
Eaton Corp PLC0.30%
Cmrc/Cme Eminirsl V 12/20260.28%
Elevance Health Inc0.25%
Johnson Controls International Public Limited Comp0.20%
Slb Ltd0.20%
Crh Public Limited Company0.17%
Vivmark Residential0.13%
Vylor Inc.0.13%
Block, Inc.0.12%
Carnival Corporation0.10%
Royal Caribbean Group0.10%
Fiserv, Inc.0.09%
Willis Towers Watson PLC0.08%
Smurfit Westrock Public Limited Company0.06%
Ball Corporation0.05%
Rb Global Inc0.05%
Everest Group Ltd0.04%
Gfl Environmental Inc.0.04%
Allegion Public Limited Company0.04%
Lyondellbasell Industries N.v.0.04%
Flutter Entertainment Public Limited Company0.03%
Pentair Plc.0.03%
Restaurant Brands International Inc.0.03%
Qiagen N.v.0.03%
Cnh Industrial N.v.0.03%
Invesco Ltd.0.03%
Norwegian Cruise Line Hldg Ltd0.02%
Aptiv PLC0.02%
Axalta Coating Systems Ltd.0.02%
Gap Inc0.01%
Anglogold Ashanti Limited0.01%
Brookfield Renewable Corp New0.01%
Ccc Intelligent Solutions Holdings Inc0.01%
Fortune Brands Innovations Inc0.01%
Brookfield Asset Management Ltd<0.01%
Medical Properties Trust Inc<0.01%
Msg Rangers Corp.<0.01%
Rts/Uwm Holdings Corporation0.00%

Only in VONV

66 securities, 4.4% of VONV by weight

Linde PLC0.60%
Eaton Corp PLC0.39%
Chubb Ltd0.31%
Accenture PLC0.31%
Medtronic PLC0.30%
Johnson Controls International plc0.23%
Elevance Health Inc0.23%
Warner Bros Discovery Inc0.20%
SLB Ltd0.20%
Crh PLC0.15%
Vivmark Residential0.13%
Block Inc0.11%
Kenvue Inc0.09%
Carnival Corp Ltd0.09%
Royal Caribbean Cruises Ltd0.08%
Willis Towers Watson PLC0.07%
SLBBH11420.07%
Fiserv Inc0.07%
Smurfit Westrock PLC0.06%
RB Global Inc0.04%
Ball Corp0.04%
LyondellBasell Industries NV0.04%
TRS:PAYPAL HOLDINGS INC USD 2027-Aug-310.04%
GFL Environmental Inc0.04%
Everest Group Ltd0.04%
Allegion plc0.04%
TRS:UNITED PARCEL SERVICE-CL B USD 2026-Aug-310.03%
CNH Industrial NV0.03%
TRS:GOLDMAN SACHS GROUP INC USD 2027-Aug-310.03%
Invesco Ltd0.03%
Flutter Entertainment PLC0.03%
Restaurant Brands International Inc0.03%
Qorvo Inc0.03%
Aptiv PLC0.03%
Qiagen NV0.02%
Pentair PLC0.02%
Axalta Coating Systems Ltd0.02%
Norwegian Cruise Line Holdings Ltd0.02%
TRS:CARRIER GLOBAL CORP USD 2026-Aug-310.02%
Gap Inc/The0.01%
Anglogold Ashanti Plc0.01%
Fortune Brands Innovations Inc0.01%
Brookfield Renewable Corp0.01%
CCC Intelligent Solutions Holdings Inc0.01%
TRS:GOLDMAN SACHS GROUP INC USD 2027-Jan-29<0.01%
TRS:IONQ INC USD 2027-Aug-31<0.01%
TRS:SOFI TECHNOLOGIES INC USD 2027-Aug-31<0.01%
TRS:PAYPAL HOLDINGS INC USD 2027-Jan-29<0.01%
TRS:ELEVANCE HEALTH INC USD 2027-Jan-29<0.01%
Medical Properties Trust Inc<0.01%

Weight gaps

The 100 widest of 817 Holdings in both funds.

Holding weights in GVUS and VONV, widest gap first
Holding	Gap	GVUS	VONV
Intel CorporationINTC	VONV +0.83 points	0.68%	1.51%
Berkshire Hathaway Inc.BRK.B	GVUS +0.26 points	2.81%	2.55%
Walmart IncWMT	GVUS +0.19 points	1.33%	1.14%
Cisco Systems, Inc.CSCO	VONV +0.19 points	0.98%	1.17%
Dell Technologies Inc.DELL	VONV +0.16 points	0.23%	0.39%
Meta Platforms Inc-Class AMETA	VONV +0.16 points	0.64%	0.80%
Corteva, Inc.CTVA	VONV +0.12 points	0.02%	0.14%
Bank of America CorpBAC	VONV +0.11 points	0.79%	0.90%
The Procter & Gamble CompanyPG	GVUS +0.09 points	1.02%	0.93%
Kimberly-Clark CorporationKMB	GVUS +0.09 points	0.15%	0.06%
AbbVie Inc.ABBV	GVUS +0.08 points	1.25%	1.17%
Hewlett Packard Enterprise CoHPE	VONV +0.07 points	0.16%	0.23%
Costco Wholesale CorporationCOST	GVUS +0.08 points	0.70%	0.62%
Qualcomm IncQCOM	VONV +0.07 points	0.46%	0.53%
Mc Donalds CorpMCD	GVUS +0.07 points	0.52%	0.45%
AT&T Inc.T	VONV +0.07 points	0.38%	0.45%
JPMorgan Chase & CoJPM	VONV +0.07 points	2.36%	2.43%
Apple Inc.AAPL	VONV +0.06 points	6.00%	6.06%
Analog Devices Inc.ADI	VONV +0.05 points	0.44%	0.49%
PayPal Holdings, Inc.PYPL	GVUS +0.05 points	0.13%	0.08%
Coca-Cola Company (The)KO	GVUS +0.06 points	0.87%	0.81%
Citigroup Inc.C	VONV +0.05 points	0.45%	0.50%
United Parcel Service, Inc.UPS	GVUS +0.05 points	0.21%	0.16%
Salesforce IncCRM	VONV +0.05 points	0.45%	0.50%
Moderna, Inc.MRNA	GVUS +0.05 points	0.24%	0.19%
Freeport-Mcmoran IncFCX	VONV +0.05 points	0.22%	0.27%
Lowes Companies IncLOW	GVUS +0.05 points	0.33%	0.28%
Nextera Energy, Inc.NEE	GVUS +0.05 points	0.48%	0.43%
S&P Global Inc.SPGI	GVUS +0.05 points	0.37%	0.32%
Flex Ltd.FLEX	VONV +0.04 points	0.07%	0.11%
Intl Business Machines CorpIBM	GVUS +0.04 points	0.61%	0.57%
Coherent CorpCOHR	VONV +0.04 points	0.08%	0.12%
Morgan StanleyMS	VONV +0.04 points	0.54%	0.58%
Charles Schwab CorporationSCHW	VONV +0.04 points	0.37%	0.41%
Gilead SciencesGILD	GVUS +0.04 points	0.55%	0.51%
Valero Energy CorporationVLO	VONV +0.04 points	0.23%	0.27%
Stryker CorporationSYK	GVUS +0.04 points	0.30%	0.26%
Walt Disney Company (The)DIS	GVUS +0.04 points	0.54%	0.50%
Marsh OrdMRSH	GVUS +0.03 points	0.26%	0.23%
BlackRock Funding, Inc.BLK	GVUS +0.04 points	0.48%	0.44%
Coinbase Global, Inc.COIN	VONV +0.03 points	0.08%	0.11%
Cme Group Inc.CME	GVUS +0.03 points	0.29%	0.26%
Exxonmobil Holdings CorporationXOM	VONV +0.03 points	1.81%	1.84%
Abbott LaboratoriesABT	GVUS +0.03 points	0.50%	0.47%
Twilio Inc.TWLO	VONV +0.03 points	0.07%	0.10%
The Home Depot, Inc.HD	GVUS +0.03 points	0.23%	0.20%
Regeneron Pharmaceutical IncREGN	GVUS +0.03 points	0.24%	0.21%
Arthur J Gallagher & CoAJG	GVUS +0.03 points	0.19%	0.16%
UnitedHealth Group IncorporatedUNH	GVUS +0.03 points	0.94%	0.91%
Strategy IncMSTR	VONV +0.03 points	0.12%	0.15%
Pepsico, Inc.PEP	GVUS +0.03 points	0.45%	0.42%
Illumina, IncILMN	VONV +0.02 points	0.09%	0.11%
Altria Group, Inc.MO	GVUS +0.03 points	0.34%	0.31%
Merck & Co., Inc.MRK	VONV +0.03 points	0.96%	0.99%
Intuit IncINTU	GVUS +0.03 points	0.17%	0.14%
Roper Technologies IncROP	GVUS +0.03 points	0.12%	0.09%
Aon Public Limited CompanyAON	GVUS +0.02 points	0.18%	0.16%
Parker-Hannifin Corp.PH	VONV +0.02 points	0.31%	0.33%
Automatic Data Processing IncADP	GVUS +0.02 points	0.20%	0.18%
Crown Castle Intl CorpCCI	GVUS +0.02 points	0.10%	0.08%
F5 IncFFIV	VONV +0.02 points	0.05%	0.07%
Intercontinental Exchange IncICE	GVUS +0.03 points	0.26%	0.23%
Baker Hughes CoBKR	VONV +0.02 points	0.13%	0.15%
The Williams Companies, Inc.WMB	VONV +0.02 points	0.21%	0.23%
Mondelez International, Inc.MDLZ	GVUS +0.03 points	0.23%	0.20%
Verizon Communications Inc.VZ	VONV +0.02 points	0.51%	0.53%
Okta, Inc.OKTA	VONV +0.02 points	0.07%	0.09%
ConocophillipsCOP	GVUS +0.02 points	0.44%	0.42%
Hca Healthcare, IncHCA	GVUS +0.02 points	0.19%	0.17%
Keysight Technologies, Inc.KEYS	VONV +0.02 points	0.05%	0.07%
Cboe Global Markets, IncCBOE	GVUS +0.02 points	0.10%	0.08%
Prologis IncPLD	VONV +0.02 points	0.32%	0.34%
Public StoragePSA	GVUS +0.02 points	0.14%	0.12%
Duke Energy CorporationDUK	GVUS +0.02 points	0.26%	0.24%
The Progressive CorporationPGR	GVUS +0.02 points	0.35%	0.33%
Phillips 66PSX	VONV +0.02 points	0.24%	0.26%
Keurig Dr Pepper IncKDP	GVUS +0.02 points	0.13%	0.11%
The Southern Co.SO	GVUS +0.02 points	0.28%	0.26%
Edwards Lifesciences CorporationEW	GVUS +0.01 points	0.15%	0.14%
Ametek Inc (New)AME	VONV +0.02 points	0.14%	0.16%
Becton, Dickinson and CompanyBDX	GVUS +0.01 points	0.15%	0.14%
Microsoft CorporationMSFT	VONV +0.02 points	5.21%	5.23%
Waste Management IncWM	GVUS +0.02 points	0.17%	0.15%
Cvs Health CorpCVS	VONV +0.02 points	0.28%	0.30%
Super Micro Computer, Inc.SMCI	VONV +0.02 points	0.04%	0.06%
3M CompanyMMM	GVUS +0.02 points	0.22%	0.20%
Comcast CorporationCMCSA	GVUS +0.02 points	0.23%	0.21%
Iren LimitedIREN	VONV +0.01 points	0.02%	0.03%
Deere & CompanyDE	VONV +0.02 points	0.44%	0.46%
Devon Energy Corporation (New)DVN	VONV +0.01 points	0.13%	0.14%
Allstate CorporationALL	GVUS +0.01 points	0.17%	0.16%
Netapp, Inc.NTAP	VONV +0.01 points	0.06%	0.07%
Republic Services IncRSG	GVUS +0.02 points	0.13%	0.11%
On Semiconductor CorporationON	VONV +0.02 points	0.06%	0.08%
Cummins IncCMI	VONV +0.02 points	0.09%	0.11%
Paccar IncPCAR	VONV +0.02 points	0.14%	0.16%
Ge Healthcare Technologies Inc.GEHC	GVUS +0.02 points	0.10%	0.08%
Msci Inc.MSCI	GVUS +0.01 points	0.11%	0.10%
Onto Innovation Inc.ONTO	VONV +0.01 points	0.02%	0.03%
Nvent Electric Public LimitedNVT	VONV +0.01 points	0.03%	0.04%

All 859 GVUS 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.

GVUS vs VONV Cost

Overpaying GVUS vs VONV

$1,250

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

GVUS 0.12%
$2,520
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

GVUS 0.12%
VONV 0.06%
Overpaying

Year by year

Year	GVUS	VONV	Overpaying
10	$220	$110	$110
20	$859	$432	$427
30	$2,520	$1,270	$1,250

Expense ratio

0.12%GVUS
0.06%VONV, cheaper

VONV0.06%GVUS0.12%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VONV 4th cheapest of 99 funds

GVUS 10th cheapest of 99 funds

GVUS vs VONV Dividends

Last 12 months to Nov 9, 2026

Yield (12M): GVUS 1.43%; VONV 1.51%, better
Payout (12M): GVUS $0.97; VONV $1.74
Last payment: GVUS $0.23; VONV $0.42
Ex-dividend: GVUS Sep 24, 2026; VONV Sep 23, 2026
Paid on: GVUS Sep 30, 2026; VONV Sep 25, 2026
Frequency: GVUS Quarterly; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

GVUSQuarterly · 12 paymentsAll GVUS payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

GVUS vs VONV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: GVUS 11.6%since Dec 2023VONV 12.1%
Return per unit of riskSharpe ratio, 3 years: GVUS 1.31since Dec 2023VONV 1.43
Worst fallMax drawdown, 5 years: GVUS −15.8%since Nov 2023VONV −18.9%
Market sensitivityBeta, 5 years: GVUS 0.76VONV 0.85; Market = 1

GVUS 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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GVUS vs VONV

In short

Stated mandate

Why people hold it

Worth knowing

How GVUS and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GVUS

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 GVUS and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GVUS

Only in VONV

Weight gaps