IUS vs VONV: Grades, Fees and Holdings Compared

Invesco RAFI Strategic US ETF

IUSBNasdaq

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

58.4%by weight

Expense ratio

VONV −0.13pt a year

IUS0.19%VONV0.06%

Avg volume · 30D

VONV 14.1×the volume

IUS54.8KVONV774K

5Y return · a year

IUS +2.8pt

IUS+14.5%VONV+11.7%

IUS vs VONV Performance

Oct 29, 2021 – Oct 30, 2026

+96.6%IUS+73.8%VONV

Expense ratio: IUS 0.19%; VONV 0.06%, better
Fund size: IUS $1.01B; VONV $23.3B
1Y total return: IUS +27.0%; VONV +28.5%, better
Yield (12M): IUS 1.22%; VONV 1.53%, better
Holdings: IUS 535; VONV 873
Avg volume (30D): IUS 54.8K sh; VONV 774K sh, better
NAV per share: IUS $70.25; VONV $113.44
52W range

ETF.net Grade

Pillar letters and Scores for IUS, VONV, with each pillar’s weight
Pillar	IUS	VONV
Cost30% weight	A71	A96Higher
Mission25% weight	B64	A100Higher
Risk15% weight	A89Higher	A86
Tradability15% weight	B63Higher	B60
Holdings10% weight	B55Higher	C49
Durability5% weight	B58	A93Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. IUS 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 IUS 28th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 25BQLCNorthern Trust US Quality Large Cap ETFScore 69
Rank 28BIUSInvesco RAFI Strategic US ETFScore 68
Rank 28BROUSHartford Multifactor US Equity ETFScore 68

Our read on each fund

ETF.net Research

IUSBInvesco RAFI Strategic US ETF

VONVAVanguard Russell 1000 Value ETF

In short

IUS Most index funds let the stock market decide who counts as big. IUS ranks US large caps by business size (sales, cash flow, book value, capital returned), screens them for quality, and charges 0.19%.

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

IUS The fund tracks the Invesco Strategic US Index, which selects large US companies using business-size and quality measures and weights securities by float-adjusted business size.

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

IUS At 0.19% a year it undercuts the typical fund in its US multifactor cohort, and sits below FNDX, the best-known fundamentally weighted large-cap rival.
Weighting by economic footprint instead of market cap dilutes the mega-cap crowd: roughly 500 names, none sized by how popular its shares happen to be.invesco.com
The quality screen is concrete, not vague: companies are ranked on how much revenue they wring from their assets and whether that ratio is improving.invesco.com
Live since 2018 and one of the stronger implementations in a crowded US multifactor field. 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

IUS Thinly traded next to the category's giants, so bid-ask spreads can run wider.
The index is built by Invesco Indexing LLC, an affiliate of the fund's adviser, rather than an independent third-party provider.sec.gov
Reconstitutes once a year, so its business-size and quality readings refresh annually while prices move every day.invesco.com

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 IUS profile⁠

Full VONV profile⁠

IUS vs VONV Holdings

How IUS and VONV differ

Overlap by weight

58.4%

Shared holdings make up 81.4% of IUS and 76.1% of VONV.

Level by level

Holdings420 in both58.4%
Sector11 Sectors84.2%
Countryby domicile98.6%
Asset classEquity100%

Sector

Sector weights in IUS and VONV, widest gap first
Sector	More in IUSMore in VONV	IUS	VONV
Financials	VONV +8.8 points	9.1%	17.9%
Communication	IUS +8.6 points	12.0%	3.4%
Real Estate	VONV +3.0 points	0.5%	3.5%
Energy	IUS +2.6 points	8.8%	6.2%
Utilities	VONV +2.4 points	1.0%	3.4%
Health Care	IUS +2.0 points	15.4%	13.4%
Technology	IUS +2.0 points	23.9%	21.9%
Industrials	VONV +0.9 points	8.6%	9.5%
Materials	VONV +0.8 points	2.5%	3.3%
Consumer Discretionary	IUS +0.5 points	10.9%	10.4%
Consumer Staples	IUS +0.1 points	7.3%	7.2%

Country, concentration and asset class

Country by domicile

Country weights in IUS and VONV, widest gap first
Country	More in IUSMore in VONV	IUS	VONV
United States	VONV +1.4 points	98.6%	100.0%
Switzerland	IUS +0.6 points	0.6%	0.0%
Other countries (7)	IUS +0.8 points	0.8%	0.0%

Concentration

Weight in the 10 largest Holdings

IUS26.7%
VONV29.8%

Securities held

IUS534
VONV871

Asset class

IUS: Equity
VONV: Equity

Holdings

Only in IUS114
In both420
Only in VONV451

Only in IUS

114 securities, 18.6% of IUS by weight

Alphabet Inc2.86%
NVIDIA Corp2.02%
Visa Inc0.95%
Broadcom Inc0.67%
Cencora Inc0.64%
Mastercard Inc0.60%
Elevance Health Inc0.53%
Eli Lilly & Co0.52%
Micron Technology Inc0.49%
Advanced Micro Devices Inc0.37%
General Electric Co0.35%
Lockheed Martin Corp0.35%
Tesla Inc0.34%
Caterpillar Inc0.28%
Applied Materials Inc0.25%
Netflix Inc0.24%
Texas Instruments Inc0.24%
Booking Holdings Inc0.23%
Fiserv Inc0.22%
Becton Dickinson & Co0.22%
Oracle Corp0.19%
Airbnb Inc0.18%
Lam Research Corp0.17%
Amphenol Corp0.16%
MercadoLibre Inc0.16%
ServiceNow Inc0.15%
StoneX Group Inc0.15%
Block Inc0.14%
TE Connectivity PLC0.14%
GE Vernova Inc0.14%
Intuitive Surgical Inc0.12%
Vylor Inc0.12%
Palo Alto Networks Inc0.12%
Expedia Group Inc0.12%
Marvell Technology Inc0.11%
KLA Corp0.11%
Trane Technologies PLC0.11%
Arista Networks Inc0.11%
Targa Resources Corp0.10%
Vistra Corp0.10%
Snowflake Inc0.10%
Ternium SA0.10%
Hilton Worldwide Holdings Inc0.09%
Ball Corp0.08%
Cintas Corp0.08%
PBF Energy Inc0.08%
World Kinect Corp0.08%
Waste Connections Inc0.08%
Chipotle Mexican Grill Inc0.08%
Gartner Inc0.07%

Only in VONV

451 securities, 23.7% of VONV by weight

JPMorgan Chase & Co2.43%
Bank of America Corp0.91%
Goldman Sachs Group Inc/The0.67%
Wells Fargo & Co0.67%
Morgan Stanley0.58%
Citigroup Inc0.50%
Welltower Inc0.46%
Blackrock Inc0.44%
NextEra Energy Inc0.43%
Charles Schwab Corp/The0.41%
Prologis Inc0.34%
Capital One Financial Corp0.32%
Southern Co/The0.26%
CME Group Inc0.26%
Bank of New York Mellon Corp/The0.25%
US Bancorp0.25%
PNC Financial Services Group Inc/The0.25%
Duke Energy Corp0.24%
Intercontinental Exchange Inc0.23%
Williams Cos Inc/The0.23%
Elevance Health Inc0.23%
Synopsys Inc0.22%
Warner Bros Discovery Inc0.20%
Moderna Inc0.19%
Digital Realty Trust Inc0.18%
American Electric Power Co Inc0.18%
Arthur J Gallagher & Co0.16%
Truist Financial Corp0.16%
Crh PLC0.15%
Strategy Inc0.15%
Dominion Energy Inc0.15%
Sempra0.14%
Aflac Inc0.14%
MetLife Inc0.14%
Realty Income Corp0.14%
Becton Dickinson & Co0.14%
Honeywell Aerospace Inc0.14%
KKR & Co Inc0.13%
Apollo Global Management Inc0.13%
State Street Corp0.13%
Entergy Corp0.13%
Vivmark Residential0.13%
Fifth Third Bancorp0.13%
Xcel Energy Inc0.12%
Waters Corp0.12%
Exelon Corp0.11%
Ameriprise Financial Inc0.11%
American International Group Inc0.11%
Prudential Financial Inc0.11%
Block Inc0.11%

Weight gaps

The 100 widest of 420 Holdings in both funds.

Holding weights in IUS and VONV, widest gap first
Holding	More in IUSMore in VONV	IUS	VONV
Amazon.com IncAMZN	VONV +3.60 points	2.49%	6.09%
Meta Platforms IncMETA	IUS +1.76 points	2.56%	0.80%
Apple IncAAPL	VONV +1.73 points	4.34%	6.07%
Intel CorpINTC	VONV +1.21 points	0.30%	1.51%
Microsoft CorpMSFT	VONV +1.12 points	4.12%	5.24%
McKesson CorpMCK	IUS +0.83 points	0.85%	0.02%
Johnson & JohnsonJNJ	VONV +0.77 points	0.98%	1.75%
General Motors CoGM	IUS +0.69 points	0.88%	0.19%
ExxonMobil Holdings CorpXOM	IUS +0.68 points	2.52%	1.84%
Cisco Systems IncCSCO	VONV +0.67 points	0.50%	1.17%
Chevron CorpCVX	IUS +0.60 points	1.64%	1.04%
Comcast CorpCMCSA	IUS +0.58 points	0.79%	0.21%
Marathon Petroleum CorpMPC	IUS +0.51 points	0.67%	0.16%
CVS Health CorpCVS	IUS +0.52 points	0.82%	0.30%
AbbVie IncABBV	VONV +0.51 points	0.66%	1.17%
Philip Morris International IncPM	VONV +0.51 points	0.31%	0.82%
Cigna Group/TheCI	IUS +0.46 points	0.66%	0.20%
UnitedHealth Group IncUNH	IUS +0.45 points	1.36%	0.91%
AT&T IncT	IUS +0.43 points	0.88%	0.45%
Home Depot Inc/TheHD	IUS +0.43 points	0.63%	0.20%
Ford Motor CoF	IUS +0.42 points	0.55%	0.13%
Cardinal Health IncCAH	IUS +0.41 points	0.49%	0.08%
Coca-Cola Co/TheKO	VONV +0.40 points	0.41%	0.81%
Verizon Communications IncVZ	IUS +0.39 points	0.92%	0.53%
Centene CorpCNC	IUS +0.36 points	0.44%	0.08%
Accenture PLCACN	IUS +0.30 points	0.61%	0.31%
Analog Devices IncADI	VONV +0.28 points	0.21%	0.49%
Kroger Co/TheKR	IUS +0.29 points	0.38%	0.09%
Phillips 66PSX	IUS +0.28 points	0.54%	0.26%
ConocoPhillipsCOP	IUS +0.27 points	0.69%	0.42%
Adobe IncADBE	IUS +0.26 points	0.34%	0.08%
Salesforce IncCRM	IUS +0.26 points	0.76%	0.50%
Linde PLCLIN	VONV +0.26 points	0.34%	0.60%
PayPal Holdings IncPYPL	IUS +0.25 points	0.33%	0.08%
Merck & Co IncMRK	VONV +0.24 points	0.75%	0.99%
Pfizer IncPFE	IUS +0.23 points	0.68%	0.45%
Valero Energy CorpVLO	IUS +0.23 points	0.50%	0.27%
Dell Technologies IncDELL	IUS +0.23 points	0.62%	0.39%
Walmart IncWMT	VONV +0.23 points	0.92%	1.15%
McDonald's CorpMCD	VONV +0.22 points	0.23%	0.45%
Vertex Pharmaceuticals IncVRTX	VONV +0.22 points	0.15%	0.37%
RTX CorpRTX	VONV +0.22 points	0.47%	0.69%
United Parcel Service IncUPS	IUS +0.21 points	0.37%	0.16%
Berkshire Hathaway IncBRK.B	IUS +0.21 points	2.76%	2.55%
Humana IncHUM	IUS +0.21 points	0.34%	0.13%
Eaton Corp PLCETN	VONV +0.21 points	0.18%	0.39%
Walt Disney Co/TheDIS	IUS +0.19 points	0.69%	0.50%
Equinix IncEQIX	VONV +0.18 points	0.09%	0.27%
Amgen IncAMGN	IUS +0.19 points	0.37%	0.18%
Deere & CoDE	VONV +0.19 points	0.27%	0.46%
Parker-Hannifin CorpPH	VONV +0.18 points	0.15%	0.33%
Chubb LtdCB	IUS +0.19 points	0.50%	0.31%
Kraft Heinz Co/TheKHC	IUS +0.18 points	0.23%	0.05%
Thermo Fisher Scientific IncTMO	VONV +0.18 points	0.51%	0.69%
Travelers Cos Inc/TheTRV	IUS +0.18 points	0.38%	0.20%
Target CorpTGT	IUS +0.16 points	0.36%	0.20%
Procter & Gamble Co/ThePG	VONV +0.16 points	0.77%	0.93%
Allstate Corp/TheALL	IUS +0.16 points	0.32%	0.16%
Gilead Sciences IncGILD	VONV +0.16 points	0.35%	0.51%
Sysco CorpSYY	IUS +0.15 points	0.20%	0.05%
Charter Communications IncCHTR	IUS +0.15 points	0.18%	0.03%
Progressive Corp/ThePGR	IUS +0.15 points	0.48%	0.33%
HP IncHPQ	IUS +0.13 points	0.21%	0.08%
Blackstone IncBX	IUS +0.12 points	0.17%	0.05%
Occidental Petroleum CorpOXY	IUS +0.13 points	0.24%	0.11%
Corteva IncCTVA	VONV +0.12 points	0.02%	0.14%
Best Buy Co IncBBY	IUS +0.12 points	0.17%	0.05%
EOG Resources IncEOG	IUS +0.13 points	0.33%	0.20%
Union Pacific CorpUNP	VONV +0.12 points	0.29%	0.41%
Lennar CorpLEN	IUS +0.12 points	0.15%	0.03%
Stryker CorpSYK	VONV +0.11 points	0.15%	0.26%
Freeport-McMoRan IncFCX	VONV +0.12 points	0.16%	0.28%
American Express CoAXP	IUS +0.12 points	0.43%	0.31%
Constellation Energy CorpCEG	VONV +0.11 points	0.10%	0.21%
Archer-Daniels-Midland CoADM	IUS +0.12 points	0.22%	0.10%
HCA Healthcare IncHCA	IUS +0.11 points	0.28%	0.17%
O'Reilly Automotive IncORLY	VONV +0.10 points	0.09%	0.19%
DR Horton IncDHI	IUS +0.11 points	0.20%	0.09%
QUALCOMM IncQCOM	VONV +0.10 points	0.43%	0.53%
Arch Capital Group LtdACGL	IUS +0.11 points	0.19%	0.08%
Coherent CorpCOHR	VONV +0.10 points	0.02%	0.12%
International Business Machines CorpIBM	VONV +0.10 points	0.47%	0.57%
Zoetis IncZTS	IUS +0.09 points	0.11%	0.02%
Tyson Foods IncTSN	IUS +0.09 points	0.13%	0.04%
Medtronic PLCMDT	IUS +0.09 points	0.39%	0.30%
CarMax IncKMX	IUS +0.09 points	0.11%	0.02%
AMETEK IncAME	VONV +0.09 points	0.07%	0.16%
Ecolab IncECL	VONV +0.09 points	0.10%	0.19%
Uber Technologies IncUBER	VONV +0.08 points	0.25%	0.33%
Ventas IncVTR	VONV +0.09 points	0.03%	0.12%
FedEx CorpFDX	IUS +0.09 points	0.26%	0.17%
Cognizant Technology Solutions CorpCTSH	IUS +0.09 points	0.16%	0.07%
Boeing Co/TheBA	VONV +0.08 points	0.06%	0.14%
Boston Scientific CorpBSX	VONV +0.08 points	0.10%	0.18%
Ross Stores IncROST	IUS +0.08 points	0.11%	0.03%
HF Sinclair CorpDINO	IUS +0.07 points	0.12%	0.04%
Lithia Motors IncLAD	IUS +0.07 points	0.09%	0.02%
Dollar General CorpDG	IUS +0.08 points	0.15%	0.07%
Hartford Insurance Group Inc/TheHIG	IUS +0.08 points	0.17%	0.09%
Albertsons Cos IncACI	IUS +0.08 points	0.09%	0.01%

All 534 IUS 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.

IUS vs VONV Cost

Overpaying IUS vs VONV

$2,682

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

IUS 0.19%
$3,952
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

IUS 0.19%
VONV 0.06%
Overpaying

Year by year

Year	IUS	VONV	Overpaying
10	$347	$110	$237
20	$1,351	$432	$919
30	$3,952	$1,270	$2,682

Expense ratio

0.19%IUS
0.06%VONV, cheaper

VONV0.06%IUS0.19%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VONV 4th cheapest of 99 funds

IUS 26th cheapest of 99 funds

IUS vs VONV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IUS 1.22%; VONV 1.53%, better
Payout (12M): IUS $0.86; VONV $1.74
Last payment: IUS $0.23; VONV $0.42
Ex-dividend: IUS Sep 21, 2026; VONV Sep 23, 2026
Paid on: IUS Sep 25, 2026; VONV Sep 25, 2026
Frequency: IUS Quarterly; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IUSQuarterly · 32 paymentsAll IUS payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

IUS vs VONV Risk

Fall from peak · 5 years

IUS
VONV

Risk facts

VolatilityStd dev, 3 years: IUS 11.2%, betterVONV 12.1%
Return per unit of riskSharpe ratio, 3 years: IUS 1.58, betterVONV 1.43
Worst fallMax drawdown, 5 years: IUS −18.7%, betterVONV −18.9%
Market sensitivityBeta, 5 years: IUS 0.88VONV 0.85; Market = 1

IUS 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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IUS vs VONV

In short

Stated mandate

Why people hold it

Worth knowing

How IUS and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IUS

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 IUS and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IUS

Only in VONV

Weight gaps