OPTZ vs VONV: Grades, Fees and Holdings Compared

Optimize Strategy Index ETF

OPTZCNasdaq

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

19.0%by weight

Expense ratio

VONV −0.19pt a year

OPTZ0.25%VONV0.06%

Avg volume · 30D

VONV 117.6×the volume

OPTZ6.58KVONV774K

OPTZ vs VONV Performance

Oct 31, 2025 – Oct 30, 2026

+25.4%OPTZ+28.5%VONV

Expense ratio: OPTZ 0.25%; VONV 0.06%, better
Fund size: OPTZ $258M; VONV $23.3B
1Y total return: OPTZ +25.4%; VONV +28.5%, better
Yield (12M): OPTZ 0.48%; VONV 1.53%, better
Holdings: OPTZ 396; VONV 873
Avg volume (30D): OPTZ 6.58K sh; VONV 774K sh, better
NAV per share: OPTZ $43.86; VONV $113.44
52W range

ETF.net Grade

Pillar letters and Scores for OPTZ, VONV, with each pillar’s weight
Pillar	OPTZ	VONV
Cost30% weight	B63	A96Higher
Mission25% weight	D26	A100Higher
Risk15% weight	D25	A86Higher
Tradability15% weight	C50	B60Higher
Holdings10% weight	A72Higher	C49
Durability5% weight	D34	A93Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. OPTZ 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 OPTZ 73rd of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 73CCAFGPacer US Small Cap Cash Cows Growth Leaders ETFScore 45
Rank 73COPTZOptimize Strategy Index ETFScore 45
Rank 77CFTCFirst Trust Large Cap Growth AlphaDEX FundScore 44

Our read on each fund

ETF.net Research

OPTZCOptimize Strategy Index ETF

VONVAVanguard Russell 1000 Value ETF

In short

OPTZ A 2024 newcomer built on one idea: screen US-listed stocks for quality and momentum, track the index, charge 0.25%. Priced under the typical multifactor peer, but still a small and lightly traded fund.

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

OPTZ The Fund seeks to track, before fees and expenses, the total return of the Optimize Strategy Index. The Index selects U.S.-listed equities from a broad market universe and evaluates them using quality and momentum criteria.

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

OPTZ At 0.25%, it undercuts the median expense ratio in its multifactor peer group and matches Schwab's FNDX, though broad index giants like IUSG and VYM sit well below that.
No manager hunches. The Optimize Strategy Index ranks a broad US equity universe on quality and momentum, and the fund's job is simply to track it.
Conventional plumbing: a 1940 Act ETF holding US-listed stocks, with the factor tilt advertised up front rather than buried in a strategy footnote.

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

OPTZ Thinly traded, so bid-ask spreads can run wider than in the household-name factor funds. Order size and timing matter more here.
It launched in April 2024, so there is no record yet across a full market cycle to judge how the quality-momentum screen holds up.
A small fund next to the Vanguard and iShares factor lineups, and payouts come annually or semiannually rather than quarterly.

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 OPTZ profile⁠

Full VONV profile⁠

OPTZ vs VONV Holdings

How OPTZ and VONV differ

Overlap by weight

19.0%

Shared holdings make up 49.3% of OPTZ and 41.1% of VONV.

Level by level

Holdings199 in both19.0%
Sector11 Sectors79.7%
Countryby domicile98.4%
Asset classEquity100%

Sector

Sector weights in OPTZ and VONV, widest gap first
Sector	More in OPTZMore in VONV	OPTZ	VONV
Technology	OPTZ +19.6 points	41.5%	21.9%
Financials	VONV +5.0 points	12.9%	17.9%
Consumer Staples	VONV +3.9 points	3.3%	7.2%
Communication	VONV +2.5 points	0.9%	3.4%
Industrials	VONV +2.1 points	7.4%	9.5%
Health Care	VONV +2.0 points	11.4%	13.4%
Utilities	VONV +1.9 points	1.5%	3.4%
Materials	VONV +1.6 points	1.7%	3.3%
Real Estate	VONV +1.1 points	2.4%	3.5%
Energy	OPTZ +0.8 points	7.0%	6.2%
Consumer Discretionary	VONV +0.2 points	10.2%	10.4%

Country, concentration and asset class

Country by domicile

Country weights in OPTZ and VONV, widest gap first
Country	More in OPTZMore in VONV	OPTZ	VONV
United States	VONV +1.6 points	98.4%	100.0%
Brazil	OPTZ +0.5 points	0.5%	0.0%
Other countries (4)	OPTZ +1.1 points	1.1%	0.0%

Concentration

Weight in the 10 largest Holdings

OPTZ13.2%
VONV29.8%

Securities held

OPTZ395
VONV871

Asset class

OPTZ: Equity
VONV: Equity

Holdings

Only in OPTZ196
In both199
Only in VONV672

Only in OPTZ

196 securities, 50.7% of OPTZ by weight

DXC Technology Co1.49%
Texas Instruments Inc1.35%
NXP Semiconductors NV1.32%
Cadence Design Systems Inc1.30%
Advanced Micro Devices Inc1.23%
Ciena Corp1.16%
Monolithic Power Systems Inc1.14%
NCR Voyix Corp1.08%
Kulicke & Soffa Industries Inc1.05%
NVIDIA Corp1.03%
MACOM Technology Solutions Holdings Inc1.01%
Micron Technology Inc1.01%
Semtech Corp1.00%
Applied Materials Inc0.99%
Astera Labs Inc0.96%
Rackspace Technology Inc0.95%
Fabrinet0.93%
Western Digital Corp0.91%
Lam Research Corp0.90%
Teradyne Inc0.89%
Seagate Technology Holdings PLC0.88%
Canadian Solar Inc0.81%
Sandisk Corp0.77%
CareDx Inc0.32%
Targa Resources Corp0.32%
Teekay Tankers Ltd0.32%
Seadrill Ltd0.31%
World Kinect Corp0.31%
PBF Energy Inc0.31%
Hilton Worldwide Holdings Inc0.30%
NextDecade Corp0.30%
Nabors Industries Ltd0.29%
Kemper Corp0.29%
Abercrombie & Fitch Co0.29%
Upbound Group Inc0.29%
Bloomin' Brands Inc0.28%
Herbalife Ltd0.28%
Par Pacific Holdings Inc0.28%
Sezzle Inc0.27%
Murphy USA Inc0.27%
Visa Inc0.27%
Mastercard Inc0.27%
Advance Auto Parts Inc0.27%
Trupanion Inc0.27%
Darden Restaurants Inc0.27%
Winnebago Industries Inc0.26%
Acushnet Holdings Corp0.26%
Expedia Group Inc0.25%
Tapestry Inc0.25%
Independent Bank Corp0.24%

Only in VONV

672 securities, 58.8% of VONV by weight

Apple Inc6.07%
Berkshire Hathaway Inc2.55%
Johnson & Johnson1.75%
Intel Corp1.51%
Cisco Systems Inc1.17%
Walmart Inc1.15%
Merck & Co Inc0.99%
Procter & Gamble Co/The0.93%
Bank of America Corp0.91%
Philip Morris International Inc0.82%
Coca-Cola Co/The0.81%
Meta Platforms Inc0.80%
RTX Corp0.69%
Wells Fargo & Co0.67%
International Business Machines Corp0.57%
QUALCOMM Inc0.53%
Verizon Communications Inc0.53%
Gilead Sciences Inc0.51%
Walt Disney Co/The0.50%
Abbott Laboratories0.47%
Welltower Inc0.46%
McDonald's Corp0.45%
AT&T Inc0.45%
Pfizer Inc0.45%
Union Pacific Corp0.41%
Eaton Corp PLC0.39%
Newmont Corp0.33%
Progressive Corp/The0.33%
Uber Technologies Inc0.33%
Capital One Financial Corp0.32%
Chubb Ltd0.31%
Altria Group Inc0.31%
Accenture PLC0.31%
Medtronic PLC0.30%
Lowe's Cos Inc0.28%
Freeport-McMoRan Inc0.28%
CME Group Inc0.26%
US Bancorp0.25%
Duke Energy Corp0.24%
Emerson Electric Co0.24%
CSX Corp0.24%
Intercontinental Exchange Inc0.23%
Hewlett Packard Enterprise Co0.23%
Johnson Controls International plc0.23%
Williams Cos Inc/The0.23%
Marsh & McLennan Cos Inc0.23%
Elevance Health Inc0.23%
T-Mobile US Inc0.22%
Comcast Corp0.21%
Constellation Energy Corp0.21%

Weight gaps

The 100 widest of 199 Holdings in both funds.

Holding weights in OPTZ and VONV, widest gap first
Holding	More in OPTZMore in VONV	OPTZ	VONV
Amazon.com IncAMZN	VONV +5.85 points	0.24%	6.09%
Microsoft CorpMSFT	VONV +4.03 points	1.21%	5.24%
JPMorgan Chase & Co.JPM	VONV +2.20 points	0.23%	2.43%
ExxonMobil Holdings CorpXOM	VONV +1.50 points	0.34%	1.84%
Roper Technologies IncROP	OPTZ +1.24 points	1.33%	0.09%
Teledyne Technologies IncTDY	OPTZ +1.17 points	1.25%	0.08%
Synopsys IncSNPS	OPTZ +1.15 points	1.37%	0.22%
Zebra Technologies CorpZBRA	OPTZ +1.10 points	1.15%	0.05%
Arrow Electronics IncARW	OPTZ +1.09 points	1.12%	0.03%
Keysight Technologies IncKEYS	OPTZ +1.02 points	1.09%	0.07%
AbbVie IncABBV	VONV +0.96 points	0.21%	1.17%
Sanmina CorpSANM	OPTZ +0.94 points	0.96%	0.02%
First Solar IncFSLR	OPTZ +0.94 points	0.99%	0.05%
MKS IncMKSI	OPTZ +0.86 points	0.90%	0.04%
Analog Devices IncADI	OPTZ +0.84 points	1.33%	0.49%
Coherent CorpCOHR	OPTZ +0.74 points	0.86%	0.12%
UnitedHealth Group IncUNH	VONV +0.72 points	0.19%	0.91%
Chevron CorpCVX	VONV +0.71 points	0.33%	1.04%
Dell Technologies IncDELL	OPTZ +0.55 points	0.94%	0.39%
Salesforce IncCRM	OPTZ +0.52 points	1.02%	0.50%
Linde PLCLIN	VONV +0.51 points	0.09%	0.60%
Thermo Fisher Scientific IncTMO	VONV +0.48 points	0.21%	0.69%
Goldman Sachs Group Inc/TheGS	VONV +0.46 points	0.21%	0.67%
Costco Wholesale CorpCOST	VONV +0.43 points	0.20%	0.63%
Morgan StanleyMS	VONV +0.37 points	0.21%	0.58%
Deere & CoDE	VONV +0.34 points	0.12%	0.46%
Crocs IncCROX	OPTZ +0.31 points	0.33%	0.02%
Hasbro IncHAS	OPTZ +0.31 points	0.34%	0.03%
PVH CorpPVH	OPTZ +0.31 points	0.32%	<0.01%
NextEra Energy IncNEE	VONV +0.31 points	0.13%	0.43%
Chord Energy CorpCHRD	OPTZ +0.29 points	0.31%	0.02%
Howard Hughes Holdings IncHHH	OPTZ +0.28 points	0.29%	<0.01%
Citigroup IncC	VONV +0.28 points	0.22%	0.50%
Hyatt Hotels CorpH	OPTZ +0.28 points	0.28%	<0.01%
Ralph Lauren CorpRL	OPTZ +0.28 points	0.29%	0.01%
HF Sinclair CorpDINO	OPTZ +0.27 points	0.32%	0.04%
Prologis IncPLD	VONV +0.26 points	0.08%	0.34%
Morningstar IncMORN	OPTZ +0.26 points	0.27%	<0.01%
Caris Life Sciences IncCAI	OPTZ +0.26 points	0.26%	<0.01%
Mohawk Industries IncMHK	OPTZ +0.25 points	0.27%	0.02%
Ulta Beauty IncULTA	OPTZ +0.25 points	0.30%	0.05%
American Financial Group Inc/OHAFG	OPTZ +0.25 points	0.27%	0.02%
PepsiCo IncPEP	VONV +0.24 points	0.18%	0.42%
Hanover Insurance Group Inc/TheTHG	OPTZ +0.24 points	0.26%	0.02%
Ross Stores IncROST	OPTZ +0.23 points	0.26%	0.03%
Five Below IncFIVE	OPTZ +0.23 points	0.25%	0.02%
Affiliated Managers Group IncAMG	OPTZ +0.22 points	0.25%	0.03%
Williams-Sonoma IncWSM	OPTZ +0.23 points	0.29%	0.06%
Corebridge Financial IncCRBG	OPTZ +0.23 points	0.25%	0.02%
WEX IncWEX	OPTZ +0.22 points	0.23%	0.01%
Wintrust Financial CorpWTFC	OPTZ +0.21 points	0.24%	0.03%
Parker-Hannifin CorpPH	VONV +0.22 points	0.11%	0.33%
Assurant IncAIZ	OPTZ +0.21 points	0.25%	0.04%
eBay IncEBAY	OPTZ +0.22 points	0.31%	0.09%
Lear CorpLEA	OPTZ +0.21 points	0.23%	0.02%
Evercore IncEVR	OPTZ +0.21 points	0.24%	0.03%
Reinsurance Group of America IncRGA	OPTZ +0.22 points	0.26%	0.04%
AutoNation IncAN	OPTZ +0.21 points	0.22%	0.01%
Wynn Resorts LtdWYNN	OPTZ +0.21 points	0.21%	<0.01%
Charles Schwab Corp/TheSCHW	VONV +0.21 points	0.20%	0.41%
Diamondback Energy IncFANG	OPTZ +0.21 points	0.31%	0.10%
Restaurant Brands International IncQSR	OPTZ +0.21 points	0.24%	0.03%
Popular IncBPOP	OPTZ +0.20 points	0.22%	0.02%
Yum! Brands IncYUM	OPTZ +0.20 points	0.27%	0.07%
Cboe Global Markets IncCBOE	OPTZ +0.20 points	0.28%	0.08%
Cincinnati Financial CorpCINF	OPTZ +0.19 points	0.26%	0.07%
Brighthouse Financial IncBHF	OPTZ +0.19 points	0.20%	<0.01%
Blackrock IncBLK	VONV +0.19 points	0.25%	0.44%
Equinix IncEQIX	VONV +0.19 points	0.08%	0.27%
Globe Life IncGL	OPTZ +0.18 points	0.22%	0.04%
Lithia Motors IncLAD	OPTZ +0.18 points	0.20%	0.02%
Danaher CorpDHR	VONV +0.18 points	0.21%	0.39%
Bristol-Myers Squibb CoBMY	VONV +0.18 points	0.17%	0.35%
Davita IncDVA	OPTZ +0.17 points	0.19%	0.02%
IDEXX Laboratories IncIDXX	OPTZ +0.17 points	0.19%	0.02%
Vertex Pharmaceuticals IncVRTX	VONV +0.18 points	0.19%	0.37%
Ensign Group Inc/TheENSG	OPTZ +0.17 points	0.20%	0.03%
Ascendis Pharma A/SASND	OPTZ +0.17 points	0.17%	<0.01%
Neurocrine Biosciences IncNBIX	OPTZ +0.17 points	0.18%	<0.01%
Universal Health Services IncUHS	OPTZ +0.17 points	0.19%	0.02%
MSCI IncMSCI	OPTZ +0.17 points	0.27%	0.10%
United Therapeutics CorpUTHR	OPTZ +0.17 points	0.23%	0.06%
BorgWarner IncBWA	OPTZ +0.17 points	0.20%	0.03%
Blackstone IncBX	OPTZ +0.16 points	0.21%	0.05%
Bio-Techne CorpTECH	OPTZ +0.16 points	0.19%	0.03%
West Pharmaceutical Services IncWST	OPTZ +0.16 points	0.23%	0.07%
Casey's General Stores IncCASY	OPTZ +0.15 points	0.16%	<0.01%
J M Smucker Co/TheSJM	OPTZ +0.16 points	0.19%	0.03%
LPL Financial Holdings IncLPLA	OPTZ +0.15 points	0.19%	0.04%
Moody's CorpMCO	OPTZ +0.15 points	0.25%	0.10%
Raymond James Financial IncRJF	OPTZ +0.15 points	0.22%	0.07%
Hartford Insurance Group Inc/TheHIG	OPTZ +0.15 points	0.24%	0.09%
Constellation Brands IncSTZ	OPTZ +0.14 points	0.19%	0.05%
Performance Food Group CoPFGC	OPTZ +0.14 points	0.18%	0.04%
Northern Trust CorpNTRS	OPTZ +0.14 points	0.22%	0.08%
M&T Bank CorpMTB	OPTZ +0.14 points	0.23%	0.09%
Labcorp Holdings IncLH	OPTZ +0.14 points	0.21%	0.07%
Estee Lauder Cos Inc/TheEL	OPTZ +0.14 points	0.19%	0.05%
Tenet Healthcare CorpTHC	OPTZ +0.13 points	0.19%	0.06%
CVS Health CorpCVS	VONV +0.13 points	0.17%	0.30%

All OPTZ 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.

OPTZ vs VONV Cost

Overpaying OPTZ vs VONV

$3,889

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

OPTZ 0.25%
$5,159
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

OPTZ 0.25%
VONV 0.06%
Overpaying

Year by year

Year	OPTZ	VONV	Overpaying
10	$455	$110	$345
20	$1,769	$432	$1,337
30	$5,159	$1,270	$3,889

Expense ratio

0.25%OPTZ
0.06%VONV, cheaper

VONV0.06%OPTZ0.25%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VONV 4th cheapest of 99 funds

OPTZ 36th cheapest of 99 funds

OPTZ vs VONV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): OPTZ 0.48%; VONV 1.53%, better
Payout (12M): OPTZ $0.21; VONV $1.74
Last payment: OPTZ $0.21; VONV $0.42
Ex-dividend: OPTZ Dec 23, 2025; VONV Sep 23, 2026
Paid on: OPTZ Dec 24, 2025; VONV Sep 25, 2026
Frequency: OPTZ Annual; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

OPTZAnnual · 2 paymentsAll OPTZ payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

OPTZ vs VONV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: OPTZ 19.1%since May 2024VONV 12.1%
Return per unit of riskSharpe ratio, 3 years: OPTZ 1.06since May 2024VONV 1.43
Worst fallMax drawdown, 5 years: OPTZ −25.7%since Apr 2024VONV −18.9%
Market sensitivityBeta, 5 years: OPTZ 1.32VONV 0.85; Market = 1

OPTZ and VONV in the news

All news⁠

Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026OPTZVONV
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
ETF Filings
Advisor Managed Portfolios files Firehouse, Sound Capital's proposed sixth fund
Oct 2, 2026OPTZ

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OPTZ vs VONV

In short

Stated mandate

Why people hold it

Worth knowing

How OPTZ and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in OPTZ

Only in VONV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

US multifactor funds ran 30 points apart

Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list

The best value ETF depends on whose list you bought

Advisor Managed Portfolios files Firehouse, Sound Capital's proposed sixth fund

How OPTZ and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in OPTZ

Only in VONV

Weight gaps