IQSM vs VO: Grades, Fees and Holdings Compared

NYLI Candriam U.S. Mid Cap Equity ETF

IQSMBNYSE Arca

Vanguard Morningstar Mid-Cap ETF

VOANYSE Arca

Overlap

0.0%by weight

Expense ratio

VO −0.12pt a year

IQSM0.15%VO0.03%

Avg volume · 30D

VO 195.2×the volume

IQSM14.5KVO2.84M

3Y return · a year

VO +2.3pt

IQSM+17.5%VO+19.8%

IQSM vs VO Performance

Oct 31, 2025 – Oct 30, 2026

+16.0%IQSM+13.6%VO

Expense ratio: IQSM 0.15%; VO 0.03%, better
Fund size: IQSM $357M; VO $217B
1Y total return: IQSM +16.0%, better; VO +13.6%
Yield (12M): IQSM 1.05%; VO 1.35%, better
Holdings: IQSM 247; VO 277
Avg volume (30D): IQSM 14.5K sh; VO 2.84M sh, better
NAV per share: IQSM $39.06; VO $81.46
52W range

ETF.net Grade

Pillar letters and Scores for IQSM, VO, with each pillar’s weight
Pillar	IQSM	VO
Cost30% weight	C54	A86Higher
Mission25% weight	A100	A100
Risk15% weight	C43	B67Higher
Tradability15% weight	D28	B60Higher
Holdings10% weight	B61Higher	C49
Durability5% weight	F14	A92Higher

Rank among US Mid-Cap funds

How we build Categories ›

Same Category. IQSM and VO are both graded against the same 13 US Mid-Cap funds, so their Grades compare head to head.

US Mid-Cap⁠

Category · 13 funds

See all 13 ›

VO ranks 3rd and IQSM 8th of 13 funds in the US Mid-Cap Category.

Rank 1AIMCBiShares Morningstar Mid-Cap ETFScore 82
Rank 2ASCHMSchwab U.S. Mid-Cap ETFScore 80
Rank 3AVOVanguard Morningstar Mid-Cap ETFScore 79
Rank 4AIWRiShares Russell Mid-Cap ETFScore 74
Rank 7BQQQJInvesco NASDAQ Next Gen 100 ETFScore 60
Rank 8BIQSMNYLI Candriam U.S. Mid Cap Equity ETFScore 58
Rank 9CEZMWisdomTree U.S. MidCap FundScore 51

Our read on each fund

ETF.net Research

IQSMBNYLI Candriam U.S. Mid Cap Equity ETF

VOAVanguard Morningstar Mid-Cap ETF

In short

IQSM No data

VO The plain middle of the US market for three basis points. VO owns roughly 300 stocks sitting between the 70th and 85th percentile of investable market cap, each at index weight, with buffer bands that slow the churn at the edges.

Stated mandate

IQSM No data

VO The fund seeks to track the CRSP US Mid Cap Index by investing in its U.S. mid-cap stocks through passive, full replication.

Why people hold it

IQSM No data

VO Costs 0.03% a year against a 0.15% median for mid-cap peers, matching SCHM as the cheapest in the group and undercutting IWR by a wide margin.
Full replication, not sampling: it holds the index's roughly 300 names at index weight, and its tracking is among the tightest in the mid-cap group.vanguard.com
Trading since 2004 as a share class of Vanguard's Mid-Cap Index Fund, it has grown into one of the largest and most actively traded mid-cap index funds.sec.gov
CRSP draws the mid-cap line by percentage of market cap, not a fixed stock count, with buffer zones at the edges so companies migrate gradually rather than jumping buckets.crsp.org bogleheads.org

Worth knowing

IQSM No data

VO Mid caps move harder than blue chips, and Vanguard flags that: the fund sits at the top of its own 1-to-5 risk scale.vanguard.com
One band of the market by design. No mega caps, no small caps, so it covers the middle rather than the whole US market.crsp.org
About 300 stocks is a narrower net than a total-market fund casts, and sector weights are simply whatever the middle of the market looks like at the time.

Full IQSM profile⁠

Full VO profile⁠

IQSM vs VO Holdings

How IQSM and VO differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of IQSM and 0.0% of VO.

Level by level

Holdings0 in both0.0%
Sector11 Sectors83.5%
Countryby domicile99.1%
Asset classEquity100%

Sector

Sector weights in IQSM and VO, widest gap first
Sector	More in IQSMMore in VO	IQSM	VO
Health Care	IQSM +7.3 points	16.6%	9.3%
Energy	VO +7.0 points	1.6%	8.6%
Utilities	VO +6.9 points	0.8%	7.7%
Real Estate	IQSM +5.0 points	9.8%	4.8%
Communication	IQSM +1.6 points	3.8%	2.1%
Technology	IQSM +1.2 points	18.8%	17.6%
Financials	VO +1.1 points	12.7%	13.8%
Consumer Discretionary	IQSM +0.9 points	9.6%	8.7%
Industrials	VO +0.9 points	17.6%	18.5%
Consumer Staples	VO +0.6 points	4.2%	4.8%
Materials	IQSM +0.3 points	4.4%	4.1%

Country, concentration and asset class

Country by domicile

Country weights in IQSM and VO, widest gap first
Country	More in IQSMMore in VO	IQSM	VO
United States	VO +0.9 points	99.1%	100.0%
China	IQSM +0.6 points	0.6%	0.0%
Sweden	IQSM +0.3 points	0.3%	0.0%

Concentration

Weight in the 10 largest Holdings

IQSM8.0%
VO9.7%

Securities held

IQSM247
VO272

Asset class

IQSM: Equity
VO: Equity

Holdings

Only in IQSM247
In both0
Only in VO272

Only in IQSM

247 securities, 100% of IQSM by weight

Guardant Health, Inc.0.93%
US Foods Holding Corp.0.92%
Viatris, Inc.0.89%
PTC Inc.0.87%
Roku, Inc. Class A0.84%
Best Buy Co., Inc.0.73%
IDEX Corporation0.72%
ITT, Inc.0.71%
HF Sinclair Corporation0.71%
Host Hotels & Resorts, Inc.0.70%
Revvity, Inc.0.70%
Ball Corporation0.70%
Reinsurance Group of America, Incorporated0.69%
Nutanix, Inc. Class A0.69%
Charles River Laboratories International, Inc.0.69%
Zebra Technologies Corporation Class A0.68%
TD SYNNEX Corporation0.67%
Kimco Realty Corporation0.67%
Jones Lang LaSalle Incorporated0.66%
Dynatrace, Inc.0.66%
Tyler Technologies, Inc.0.65%
Masco Corporation0.64%
WESCO International, Inc.0.64%
James Hardie Industries PLC0.63%
Yum China Holdings, Inc.0.63%
Stanley Black & Decker, Inc.0.63%
MACOM Technology Solutions Holdings, Inc.0.63%
Hasbro, Inc.0.62%
Halozyme Therapeutics, Inc.0.62%
Gen Digital Inc.0.62%
Exelixis, Inc.0.62%
Trimble Inc.0.61%
Clean Harbors, Inc.0.61%
Carlisle Companies Incorporated0.61%
C.H. Robinson Worldwide, Inc.0.61%
DocuSign, Inc.0.61%
Medpace Holdings, Inc.0.60%
Neurocrine Biosciences, Inc.0.60%
TransUnion0.59%
Burlington Stores, Inc.0.59%
Assurant, Inc.0.59%
W. P. Carey Inc.0.58%
Manhattan Associates, Inc.0.58%
Omega Healthcare Investors, Inc.0.58%
Glaukos Corp0.58%
Gartner, Inc.0.57%
Aramark0.56%
Avery Dennison Corporation0.56%
GoDaddy, Inc. Class A0.55%
RenaissanceRe Holdings Ltd.0.55%

Only in VO

272 securities, 100% of VO by weight

Cloudflare Inc1.11%
Valero Energy Corp1.11%
Marathon Petroleum Corp1.10%
Phillips 661.01%
Quanta Services Inc0.96%
Vertiv Holdings Co0.92%
Datadog Inc0.91%
Howmet Aerospace Inc0.89%
Robinhood Markets Inc0.88%
Lumentum Holdings Inc0.86%
Constellation Energy Corp0.85%
Hewlett Packard Enterprise Co0.80%
Bloom Energy Corp0.77%
Ross Stores Inc0.74%
Warner Bros Discovery Inc0.73%
Motorola Solutions Inc0.73%
SLB Ltd0.72%
Hilton Worldwide Holdings Inc0.71%
DoorDash Inc0.71%
Target Corp0.70%
Cummins Inc0.70%
Royal Caribbean Cruises Ltd0.67%
General Motors Co0.67%
Digital Realty Trust Inc0.64%
American Electric Power Co Inc0.64%
Monolithic Power Systems Inc0.62%
Teradyne Inc0.62%
United Rentals Inc0.62%
Keysight Technologies Inc0.61%
Air Products and Chemicals Inc0.61%
Simon Property Group Inc0.61%
TE Connectivity PLC0.61%
Newmont Corp0.60%
TransDigm Group Inc0.59%
Aon PLC0.58%
Arthur J Gallagher & Co0.58%
Comfort Systems USA Inc0.58%
Targa Resources Corp0.57%
PACCAR Inc0.57%
Fastenal Co0.56%
AMETEK Inc0.56%
Truist Financial Corp0.56%
Coherent Corp0.56%
Allstate Corp/The0.56%
Snowflake Inc0.55%
Strategy Inc0.55%
WW Grainger Inc0.55%
Fortinet Inc0.55%
Astera Labs Inc0.55%
Cheniere Energy Inc0.55%

Weight gaps

IQSM and VO share no securities.

All 245 IQSM holdings⁠All 307 VO 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.

IQSM vs VO Cost

Overpaying IQSM vs VO

$2,499

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

IQSM 0.15%
$3,137
VO 0.03%
$638

Amount$10,000

Years30 years

Cost over time

IQSM 0.15%
VO 0.03%
Overpaying

Year by year

Year	IQSM	VO	Overpaying
10	$274	$55	$219
20	$1,071	$216	$855
30	$3,137	$638	$2,499

Expense ratio

0.15%IQSM
0.03%VO, cheaper

VO0.03%IQSM0.15%

0.03%0.79%

Middle half of US Mid-Cap funds
Median 0.15%

VO cheapest of 13 funds

IQSM 6th cheapest of 13 funds

IQSM vs VO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IQSM 1.05%; VO 1.35%, better
Payout (12M): IQSM $0.41; VO $1.10
Last payment: IQSM $0.10; VO $0.29
Ex-dividend: IQSM Sep 18, 2026; VO Sep 28, 2026
Paid on: IQSM Sep 22, 2026; VO Sep 30, 2026
Frequency: IQSM Quarterly; VO Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IQSMQuarterly · 16 paymentsAll IQSM payments⁠

VOQuarterly · 39 paymentsAll VO payments⁠

IQSM vs VO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IQSM 15.1%VO 13.5%, better
Return per unit of riskSharpe ratio, 3 years: IQSM 0.85VO 1.09, better
Worst fallMax drawdown, 5 years: IQSM −23.7%since Oct 2022VO −27.6%
Market sensitivityBeta, 5 years: IQSM 1.09VO 1.00; Market = 1

IQSM and VO in the news

All news⁠

ETF Filings
Vanguard files for a U.S. small-mid cap active ETF after last year’s three reached $161 million
Sep 21, 2026VO

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IQSM vs VO

In short

Stated mandate

Why people hold it

Worth knowing

How IQSM and VO differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IQSM

Only in VO

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Vanguard files for a U.S. small-mid cap active ETF after last year’s three reached $161 million

How IQSM and VO differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IQSM

Only in VO

Weight gaps