PALC vs VONV: Grades, Fees and Holdings Compared

Pacer Lunt Large Cap Multi-Factor Alternator ETF

PALCCNYSE Arca

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

27.6%by weight

Expense ratio

VONV −0.54pt a year

PALC0.60%VONV0.06%

Avg volume · 30D

VONV 100.6×the volume

PALC7.71KVONV776K

5Y return · a year

VONV +6.0pt

PALC+5.7%VONV+11.7%

PALC vs VONV Performance

Nov 9, 2021 – Nov 9, 2026

+31.6%PALC+73.9%VONV

Expense ratio: PALC 0.60%; VONV 0.06%, better
Fund size: PALC $185M; VONV $21.7B
1Y total return: PALC +5.2%; VONV +30.6%, better
Yield (12M): PALC 1.32%; VONV 1.51%, better
Holdings: PALC 180; VONV 887
Avg volume (30D): PALC 7.71K sh; VONV 776K sh, better
NAV per share: PALC $52.18; VONV $112.88
52W range

ETF.net Grade

Pillar letters and Scores for PALC, VONV, with each pillar’s weight
Pillar	PALC	VONV
Cost30% weight	F15	A96Higher
Mission25% weight	A75	A100Higher
Risk15% weight	D32	A89Higher
Tradability15% weight	D30	B59Higher
Holdings10% weight	B60Higher	C49
Durability5% weight	D30	A92Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. PALC 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 PALC 84th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 84CHQGOHartford US Quality Growth ETFScore 40
Rank 84CPALCPacer Lunt Large Cap Multi-Factor Alternator ETFScore 40
Rank 87DHERDPacer Cash Cows Fund of Funds ETFScore 38

Our read on each fund

ETF.net Research

PALCCPacer Lunt Large Cap Multi-Factor Alternator ETF

VONVAVanguard Russell 1000 Value ETF

In short

PALC Most factor funds pick one lane and stay there. PALC rotates instead: a rules-based index shifts among value, momentum, quality and low-volatility corners of the S&P 500 rather than blending all four at once.

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

PALC The fund seeks capital appreciation by using a rules-based process that rotates among factor-based strategies within S&P 500 companies.

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

PALC One ticker, four factors, on a schedule. The Lunt Capital U.S. Large Cap Multi-Factor Rotation Index decides when to sit in value, momentum, quality or low volatility. No manager hunches involved.paceretfs.com
The hunting ground is the S&P 500, so you get familiar US large caps (roughly 180 of them) rather than obscure corners of the market.paceretfs.com
Live since 2020, with a quarterly distribution schedule, so the rotation rules have a real track record behind them instead of a backtest.

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

PALC You pay for the machinery: 0.60% a year, against a 0.32% median for multi-factor peers. Static rivals like VONV (0.06%) and IUSG (0.04%) run a fraction of that.
Rotation means the fund's personality changes. A defensive low-volatility tilt one stretch, a racier one the next, so results can wander well away from a plain S&P 500 fund.
It trades lightly next to the giants in its category. Wider bid-ask spreads are a real cost at the moment you buy or sell, especially in size.

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 PALC profile⁠

Full VONV profile⁠

PALC vs VONV Holdings

How PALC and VONV differ

Overlap by weight

27.6%

Shared holdings make up 96.6% of PALC and 32.1% of VONV.

Level by level

Holdings171 in both27.6%
Sector11 Sectors67.6%
Countryby domicile98.0%
Asset classStocks100%

Sector

Sector weights in PALC and VONV, widest gap first
Sector	Gap	PALC	VONV
Technology	VONV +20.5 points	1.4%	21.9%
Financials	PALC +13.3 points	31.2%	17.9%
Utilities	PALC +11.6 points	15.0%	3.4%
Real Estate	PALC +5.1 points	8.6%	3.5%
Consumer Discretionary	VONV +4.8 points	5.5%	10.4%
Health Care	VONV +3.7 points	9.7%	13.4%
Communication	PALC +2.3 points	5.7%	3.4%
Materials	VONV +2.0 points	1.3%	3.3%
Industrials	VONV +0.8 points	8.7%	9.5%
Consumer Staples	VONV +0.6 points	6.6%	7.2%
Energy	Same weight	6.2%	6.2%

Country, concentration and asset class

Country by domicile

Country weights in PALC and VONV, widest gap first
Country	Gap	PALC	VONV
United States	VONV +2.0 points	98.0%	100.0%
Switzerland	PALC +1.6 points	1.6%	0.0%
Other countries (2)	PALC +0.5 points	0.5%	0.0%

Concentration

Weight in the 10 largest Holdings

PALC19.1%
VONV29.8%

Securities held

PALC178
VONV883

Asset class

PALC: Stocks
VONV: Stocks

Holdings

Only in PALC7
In both171
Only in VONV712

Only in PALC

7 securities, 3.2% of PALC by weight

Cencora Inc0.66%
Visa Inc0.53%
Simon Property Group Inc0.53%
Mastercard Inc0.52%
Hilton Worldwide Holdings Inc0.49%
Cintas Corp0.47%
Skydance Corp0.03%

Only in VONV

712 securities, 67.7% of VONV by weight

Amazon.com Inc6.08%
Apple Inc6.06%
Microsoft Corp5.23%
ExxonMobil Holdings Corp1.84%
Intel Corp1.51%
AbbVie Inc1.17%
Cisco Systems Inc1.17%
Walmart Inc1.14%
Merck & Co Inc0.99%
UnitedHealth Group Inc0.91%
Philip Morris International Inc0.82%
Meta Platforms Inc0.80%
Thermo Fisher Scientific Inc0.69%
RTX Corp0.69%
Goldman Sachs Group Inc/The0.67%
Morgan Stanley0.58%
International Business Machines Corp0.57%
QUALCOMM Inc0.53%
Gilead Sciences Inc0.51%
Salesforce Inc0.50%
Walt Disney Co/The0.50%
Analog Devices Inc0.49%
Abbott Laboratories0.47%
Deere & Co0.46%
Pfizer Inc0.45%
Blackrock Inc0.44%
ConocoPhillips0.42%
Charles Schwab Corp/The0.41%
Dell Technologies Inc0.39%
Eaton Corp PLC0.39%
Danaher Corp0.38%
Vertex Pharmaceuticals Inc0.36%
Bristol-Myers Squibb Co0.35%
Newmont Corp0.33%
Uber Technologies Inc0.33%
Parker-Hannifin Corp0.33%
S&P Global Inc0.32%
Capital One Financial Corp0.32%
American Express Co0.31%
Altria Group Inc0.31%
Accenture PLC0.31%
Lowe's Cos Inc0.28%
Freeport-McMoRan Inc0.27%
Stryker Corp0.26%
Emerson Electric Co0.24%
Intercontinental Exchange Inc0.23%
Hewlett Packard Enterprise Co0.23%
Johnson Controls International plc0.23%
Marsh & McLennan Cos Inc0.23%
Synopsys Inc0.22%

Weight gaps

The 100 widest of 171 Holdings in both funds.

Holding weights in PALC and VONV, widest gap first
Holding	Gap	PALC	VONV
JPMorgan Chase & Co.JPM	VONV +2.02 points	0.41%	2.43%
Bank of America CorpBAC	PALC +1.59 points	2.49%	0.90%
AT&T IncT	PALC +1.55 points	2.00%	0.45%
Verizon Communications IncVZ	PALC +1.39 points	1.92%	0.53%
Comcast CorpCMCSA	PALC +1.30 points	1.51%	0.21%
Chubb LtdCB	PALC +1.25 points	1.56%	0.31%
Wells Fargo & CoWFC	PALC +1.23 points	1.90%	0.67%
McKesson CorpMCK	PALC +1.23 points	1.25%	0.02%
Johnson & JohnsonJNJ	VONV +1.18 points	0.57%	1.75%
Travelers Cos Inc/TheTRV	PALC +1.08 points	1.28%	0.20%
Citigroup IncC	PALC +1.07 points	1.57%	0.50%
CVS Health CorpCVS	PALC +1.03 points	1.33%	0.30%
Berkshire Hathaway IncBRK.B	PALC +1.00 points	3.55%	2.55%
Elevance Health IncELV	PALC +0.99 points	1.22%	0.23%
Cigna Group/TheCI	PALC +0.98 points	1.17%	0.19%
General Motors CoGM	PALC +0.96 points	1.15%	0.19%
Marathon Petroleum CorpMPC	PALC +0.88 points	1.04%	0.16%
US BancorpUSB	PALC +0.85 points	1.10%	0.25%
Prudential Financial IncPRU	PALC +0.84 points	0.94%	0.11%
Arch Capital Group LtdACGL	PALC +0.82 points	0.90%	0.08%
Phillips 66PSX	PALC +0.81 points	1.07%	0.26%
Exelon CorpEXC	PALC +0.81 points	0.92%	0.11%
PNC Financial Services Group Inc/ThePNC	PALC +0.77 points	1.02%	0.24%
Truist Financial CorpTFC	PALC +0.76 points	0.92%	0.16%
VICI Properties IncVICI	PALC +0.76 points	0.83%	0.07%
Hartford Insurance Group Inc/TheHIG	PALC +0.76 points	0.85%	0.09%
MetLife IncMET	PALC +0.73 points	0.87%	0.14%
Loews CorpL	PALC +0.71 points	0.76%	0.05%
Valero Energy CorpVLO	PALC +0.69 points	0.96%	0.27%
Cincinnati Financial CorpCINF	PALC +0.69 points	0.76%	0.07%
Progressive Corp/ThePGR	PALC +0.62 points	0.95%	0.33%
Evergy IncEVRG	PALC +0.60 points	0.65%	0.05%
Alliant Energy CorpLNT	PALC +0.59 points	0.63%	0.04%
Pinnacle West Capital CorpPNW	PALC +0.58 points	0.61%	0.03%
WEC Energy Group IncWEC	PALC +0.58 points	0.67%	0.09%
Regency Centers CorpREG	PALC +0.57 points	0.61%	0.04%
Chevron CorpCVX	VONV +0.57 points	0.47%	1.04%
M&T Bank CorpMTB	PALC +0.56 points	0.65%	0.09%
Atmos Energy CorpATO	PALC +0.56 points	0.63%	0.07%
Target CorpTGT	PALC +0.55 points	0.75%	0.20%
FirstEnergy CorpFE	PALC +0.55 points	0.62%	0.07%
CenterPoint Energy IncCNP	PALC +0.53 points	0.60%	0.07%
Assurant IncAIZ	PALC +0.53 points	0.57%	0.04%
Consolidated Edison IncED	PALC +0.53 points	0.63%	0.10%
Federal Realty Investment TrustFRT	PALC +0.52 points	0.55%	0.03%
Ameren CorpAEE	PALC +0.52 points	0.60%	0.08%
CMS Energy CorpCMS	PALC +0.53 points	0.58%	0.05%
Principal Financial Group IncPFG	PALC +0.52 points	0.59%	0.07%
Kimco Realty CorpKIM	PALC +0.52 points	0.56%	0.04%
NiSource IncNI	PALC +0.52 points	0.57%	0.05%
Allstate Corp/TheALL	PALC +0.51 points	0.67%	0.16%
PPL CorpPPL	PALC +0.50 points	0.57%	0.07%
Delta Air Lines IncDAL	PALC +0.50 points	0.63%	0.13%
Globe Life IncGL	PALC +0.49 points	0.53%	0.04%
DTE Energy CoDTE	PALC +0.50 points	0.57%	0.07%
PayPal Holdings IncPYPL	PALC +0.49 points	0.57%	0.08%
Republic Services IncRSG	PALC +0.50 points	0.61%	0.11%
KeyCorpKEY	PALC +0.48 points	0.53%	0.05%
Veralto CorpVLTO	PALC +0.47 points	0.53%	0.06%
Aflac IncAFL	PALC +0.46 points	0.60%	0.14%
Humana IncHUM	PALC +0.45 points	0.58%	0.13%
W R Berkley CorpWRB	PALC +0.44 points	0.48%	0.04%
Cardinal Health IncCAH	PALC +0.44 points	0.52%	0.08%
UDR IncUDR	PALC +0.44 points	0.47%	0.03%
Otis Worldwide CorpOTIS	PALC +0.43 points	0.50%	0.07%
Essex Property Trust IncESS	PALC +0.43 points	0.48%	0.05%
FedEx CorpFDX	PALC +0.43 points	0.60%	0.17%
Camden Property TrustCPT	PALC +0.42 points	0.45%	0.03%
United Airlines Holdings IncUAL	PALC +0.43 points	0.52%	0.09%
Realty Income CorpO	PALC +0.43 points	0.57%	0.14%
American Water Works Co IncAWK	PALC +0.42 points	0.49%	0.07%
Mid-America Apartment Communities IncMAA	PALC +0.42 points	0.46%	0.04%
Nordson CorpNDSN	PALC +0.41 points	0.46%	0.05%
Labcorp Holdings IncLH	PALC +0.41 points	0.48%	0.07%
Duke Energy CorpDUK	PALC +0.41 points	0.65%	0.24%
Public Service Enterprise Group IncPEG	PALC +0.41 points	0.50%	0.09%
Church & Dwight Co IncCHD	PALC +0.41 points	0.47%	0.06%
Xcel Energy IncXEL	PALC +0.40 points	0.52%	0.12%
Yum! Brands IncYUM	PALC +0.40 points	0.47%	0.07%
Snap-on IncSNA	PALC +0.39 points	0.44%	0.05%
Invitation Homes IncINVH	PALC +0.39 points	0.43%	0.04%
Quest Diagnostics IncDGX	PALC +0.38 points	0.45%	0.07%
Vivmark ResidentialVMRK	PALC +0.37 points	0.50%	0.13%
Entergy CorpETR	PALC +0.37 points	0.50%	0.13%
EOG Resources IncEOG	PALC +0.37 points	0.57%	0.20%
American Electric Power Co IncAEP	PALC +0.36 points	0.54%	0.18%
Waste Management IncWM	PALC +0.36 points	0.51%	0.15%
IDEX CorpIEX	PALC +0.35 points	0.40%	0.05%
Colgate-Palmolive CoCL	PALC +0.35 points	0.46%	0.11%
Ventas IncVTR	PALC +0.35 points	0.47%	0.12%
Ford Motor CoF	PALC +0.35 points	0.48%	0.13%
Procter & Gamble Co/ThePG	VONV +0.34 points	0.59%	0.93%
Dominion Energy IncD	PALC +0.33 points	0.48%	0.15%
Southern Co/TheSO	PALC +0.32 points	0.58%	0.26%
SempraSRE	PALC +0.32 points	0.46%	0.14%
Public StoragePSA	PALC +0.31 points	0.43%	0.12%
Fiserv IncFISV	PALC +0.31 points	0.38%	0.07%
Ecolab IncECL	PALC +0.30 points	0.49%	0.19%
Kinder Morgan IncKMI	PALC +0.30 points	0.46%	0.16%
DR Horton IncDHI	PALC +0.30 points	0.39%	0.09%

All 180 PALC 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.

PALC vs VONV Cost

Overpaying PALC vs VONV

$10,547

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

PALC 0.60%
$11,817
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

PALC 0.60%
VONV 0.06%
Overpaying

Year by year

Year	PALC	VONV	Overpaying
10	$1,076	$110	$966
20	$4,116	$432	$3,684
30	$11,817	$1,270	$10,547

Expense ratio

0.60%PALC
0.06%VONV, cheaper

VONV0.06%PALC0.60%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VONV 4th cheapest of 99 funds

PALC 82nd cheapest of 99 funds

PALC vs VONV Dividends

Last 12 months to Nov 9, 2026

Yield (12M): PALC 1.32%; VONV 1.51%, better
Payout (12M): PALC $0.70; VONV $1.74
Last payment: PALC $0.22; VONV $0.42
Ex-dividend: PALC Sep 3, 2026; VONV Sep 23, 2026
Paid on: PALC Sep 8, 2026; VONV Sep 25, 2026
Frequency: PALC Quarterly; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

PALCQuarterly · 25 paymentsAll PALC payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

PALC vs VONV Risk

Fall from peak · 5 years

PALC
VONV

Risk facts

VolatilityStd dev, 3 years: PALC 14.9%VONV 12.1%, better
Return per unit of riskSharpe ratio, 3 years: PALC 0.70VONV 1.43, better
Worst fallMax drawdown, 5 years: PALC −23.8%VONV −18.9%, better
Market sensitivityBeta, 5 years: PALC 0.94VONV 0.85; Market = 1

PALC 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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PALC vs VONV

In short

Stated mandate

Why people hold it

Worth knowing

How PALC and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in PALC

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 PALC and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in PALC

Only in VONV

Weight gaps