NIXT vs VTV

NIXTCResearch Affiliates Deletions ETF

VTVAVanguard Morningstar Value ETF

In short

NIXT Most index funds chase the winners. NIXT tracks Research Affiliates' Deletions Index, a value-tilted basket of US stocks, and charges 0.09% a year to do it.

VTV Value investing for three cents on every hundred dollars a year. Since 2004, VTV has run a passive, fully invested portfolio of roughly 300 large US companies that screen cheap, at a fee near the industry floor.

Stated mandate

NIXT The Fund aims to follow the Research Affiliates Deletions Index's total return before fees and expenses.

VTV The fund seeks to track a large-capitalization U.S. value-stock benchmark through passive indexing and substantial replication of that index.

Why people hold it

• NIXT 0.09% a year, versus a 0.45% median for its index-tracking peer group. The fee is the one number you know in advance, and this one is small.
• A genuinely unusual mandate: a rules-based US equity index with an advertised value screen that no other fund in its cohort tracks.
• Ordinary plumbing underneath: a 1940 Act fund holding US stocks, paying quarterly. Standard 1099 treatment, no K-1 in the mail.

• VTV 0.03% a year, about a sixth of the 0.18% median for US value funds. Cost is the part of the outcome the fund actually controls.
• Same recipe, very different sticker: PRXV tracks the same declared value index and charges 0.36%, twelve times VTV's fee.
• Passively managed, full replication, fully invested. No manager hunches, no cash sitting idle, and the fund has tracked its benchmark closely.vanguard.com
• One of the largest and most actively traded funds in the US value aisle, the kind of scale that keeps bid-ask spreads thin for ordinary orders.

Worth knowing

• NIXT Thinly traded with a small asset base. On a given trade, the bid-ask spread can cost more than a full year of the expense ratio.
• Launched in 2024, so the live record is short and covers nothing close to a full market cycle.
• The value screen and unusual index construction mean returns can drift a long way from the cap-weighted US market, in either direction.

• VTV Large caps only, about 300 of them. Cheap mid- and small-cap stocks live in separate funds (VOE, VTWV), so this is one slice of value, not the whole market.
• It is a value screen by design, so the priciest fast growers are largely filtered out. In growth-led stretches it can move very differently from a total-market fund.
• Income arrives quarterly, in four instalments rather than a monthly drip.

Full NIXT profile⁠

Full VTV profile⁠