QUS vs VONV: Grades, Fees and Holdings Compared

State Street SPDR MSCI USA StrategicFactors ETF

QUSANYSE Arca

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

54.3%by weight

Expense ratio

VONV −0.09pt a year

QUS0.15%VONV0.06%

Avg volume · 30D

VONV 43.2×the volume

QUS17.9KVONV774K

10Y return · a year

QUS +2.1pt

QUS+14.1%VONV+12.0%

QUS vs VONV Performance

Oct 29, 2021 – Oct 30, 2026

+67.7%QUS+73.8%VONV

Expense ratio: QUS 0.15%; VONV 0.06%, better
Fund size: QUS $1.6B; VONV $23.3B
1Y total return: QUS +15.7%; VONV +28.5%, better
Yield (12M): QUS 1.24%; VONV 1.53%, better
Holdings: QUS 516; VONV 873
Avg volume (30D): QUS 17.9K sh; VONV 774K sh, better
NAV per share: QUS $197.42; VONV $113.44
52W range

ETF.net Grade

Pillar letters and Scores for QUS, VONV, with each pillar’s weight
Pillar	QUS	VONV
Cost30% weight	A83	A96Higher
Mission25% weight	A87	A100Higher
Risk15% weight	A83	A86Higher
Tradability15% weight	B67Higher	B60
Holdings10% weight	B61Higher	C49
Durability5% weight	A80	A93Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. QUS 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 QUS 5th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 5ALRGFiShares U.S. Equity Factor ETFScore 79
Rank 5AQUSState Street SPDR MSCI USA StrategicFactors ETFScore 79
Rank 9AFNDXSchwab Fundamental U.S. Large Company ETFScore 78

Our read on each fund

ETF.net Research

QUSAState Street SPDR MSCI USA StrategicFactors ETF

VONVAVanguard Russell 1000 Value ETF

In short

QUS Most factor ETFs pick one lane. QUS runs three at once: quality, value and low volatility blended into a single broad US portfolio, at 0.15% a year, well under what the typical multifactor fund charges.

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

QUS The fund seeks to track the MSCI USA Factor Mix A-Series Capped Index before fees and expenses. Its strategy combines low-volatility, quality, and value exposures in one smart-beta portfolio.

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

QUS Three factors, one ticket. The index combines quality, value and low-volatility exposure, so a diversified tilt does not mean stacking three separate funds.ssga.com
At 0.15%, the fee is less than half the median in its multifactor cohort and undercuts Schwab's FNDX at 0.25%.
Roughly 500 US names keeps this broad rather than a narrow bet, and the fund has tracked its MSCI index closely since launching in 2015.
A multi-billion-dollar State Street fund, and one of the stronger multifactor implementations in its peer group.

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

QUS It is thinly traded next to the category's giants, so bid-ask spreads can run wider than on plain index heavyweights.
Blending three factors mutes each one. By design this tracks neither a pure value fund like VONV nor a pure low-volatility sleeve.
Distributions land once or twice a year, not quarterly, so this is not shaped like an income fund such as VYM.

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 QUS profile⁠

Full VONV profile⁠

QUS vs VONV Holdings

How QUS and VONV differ

Overlap by weight

54.3%

Shared holdings make up 90.6% of VONV and 72.8% of QUS.

Level by level

Holdings406 in both54.3%
Sector11 Sectors85.8%
Countryby domicile98.3%
Asset classEquity100%

Sector

Sector weights in QUS and VONV, widest gap first
Sector	More in QUSMore in VONV	QUS	VONV
Technology	QUS +6.1 points	28.0%	21.9%
Consumer Discretionary	VONV +5.0 points	5.4%	10.4%
Communication	QUS +4.6 points	8.0%	3.4%
Energy	VONV +2.1 points	4.1%	6.2%
Real Estate	VONV +2.1 points	1.4%	3.5%
Financials	VONV +2.0 points	15.9%	17.9%
Health Care	QUS +1.9 points	15.3%	13.4%
Consumer Staples	QUS +1.6 points	8.8%	7.2%
Materials	VONV +1.6 points	1.7%	3.3%
Industrials	VONV +1.4 points	8.1%	9.5%
Utilities	Same weight	3.4%	3.4%

Country, concentration and asset class

Country by domicile

Country weights in QUS and VONV, widest gap first
Country	More in QUSMore in VONV	QUS	VONV
United States	VONV +1.7 points	98.3%	100.0%
Switzerland	QUS +0.8 points	0.8%	0.0%
Other countries (6)	QUS +0.9 points	0.9%	0.0%

Concentration

Weight in the 10 largest Holdings

QUS23.1%
VONV29.8%

Securities held

QUS514
VONV871

Asset class

QUS: Equity
VONV: Equity

Holdings

Only in QUS108
In both406
Only in VONV465

Only in QUS

108 securities, 27.0% of QUS by weight

NVIDIA Corp2.62%
Eli Lilly & Co2.56%
Visa Inc Class A Shares2.13%
Mastercard Inc A1.72%
Palantir Technologies Inc A1.07%
Alphabet Inc Class A1.06%
Alphabet Inc Class C0.95%
Applied Materials Inc0.93%
Amphenol Corp Class A0.90%
Lam Research Corp0.84%
Texas Instruments Inc0.80%
Netflix Inc0.69%
Lockheed Martin Corp0.65%
Cencora Inc0.61%
Kla Corp0.59%
Arista Networks Inc0.59%
Fortinet Inc0.48%
Waste Connections Inc0.46%
Broadcom Inc0.46%
Advanced Micro Devices0.38%
Micron Technology Inc0.36%
Autodesk Inc0.32%
Servicenow Inc0.30%
Intuitive Surgical Inc0.30%
Palo Alto Networks Inc0.27%
Cadence Design Sys Inc0.24%
Te Connectivity PLC0.23%
Ge Vernova Inc0.23%
Trane Technologies PLC0.21%
Snowflake Inc0.19%
Applovin Corp Class A0.18%
Cloudflare Inc Class A0.18%
Cintas Corp0.17%
Marvell Technology Inc0.16%
Howmet Aerospace Inc0.16%
Oracle Corp0.14%
Mercadolibre Inc0.13%
Alnylam Pharmaceuticals Inc0.13%
Tesla Inc0.13%
Teradyne Inc0.12%
Crowdstrike Holdings Inc A0.12%
Vylor Inc0.12%
Corning Inc0.11%
Seagate Technology Holdings0.11%
Comfort Systems Usa Inc0.10%
General Electric0.10%
Rollins Inc0.10%
Caterpillar Inc0.09%
Ciena Corp0.09%
Chipotle Mexican Grill Inc0.09%

Only in VONV

465 securities, 9.2% of VONV by weight

Warner Bros Discovery Inc0.20%
Moderna Inc0.19%
Sunbelt Rentals Holdings Inc0.08%
SLBBH11420.07%
Viatris Inc0.06%
Tenet Healthcare Corp0.06%
US Foods Holding Corp0.06%
Royal Gold Inc0.06%
TD SYNNEX Corp0.05%
Nutanix Inc0.05%
ITT Inc0.05%
Zebra Technologies Corp0.05%
Southwest Airlines Co0.05%
WESCO International Inc0.05%
Revvity Inc0.05%
East West Bancorp Inc0.05%
HF Sinclair Corp0.04%
MKS Inc0.04%
Reinsurance Group of America Inc0.04%
Ovintiv Inc0.04%
BitMine Immersion Technologies Inc0.04%
Host Hotels & Resorts Inc0.04%
Akamai Technologies Inc0.04%
RB Global Inc0.04%
Unity Software Inc0.04%
API Group Corp0.04%
Apa Corp0.04%
Permian Resources Corp0.04%
GFL Environmental Inc0.04%
Southern Copper Corp0.04%
IonQ Inc0.04%
Charles River Laboratories International Inc0.04%
Omega Healthcare Investors Inc0.04%
Aramark0.04%
Unum Group0.04%
Healthpeak Properties Inc0.04%
Jazz Pharmaceuticals PLC0.04%
Performance Food Group Co0.04%
Dynatrace Inc0.04%
Stanley Black & Decker Inc0.04%
Jones Lang LaSalle Inc0.04%
CACI International Inc0.04%
Trimble Inc0.04%
Mueller Industries Inc0.04%
Avery Dennison Corp0.04%
Assurant Inc0.04%
Solventum Corp0.04%
Tyler Technologies Inc0.04%
RenaissanceRe Holdings Ltd0.04%
Allegion plc0.04%

Weight gaps

The 100 widest of 406 Holdings in both funds.

Holding weights in QUS and VONV, widest gap first
Holding	More in QUSMore in VONV	QUS	VONV
Amazon.com IncAMZN	VONV +5.16 points	0.93%	6.09%
Apple IncAAPL	VONV +2.78 points	3.29%	6.07%
Microsoft CorpMSFT	VONV +1.48 points	3.76%	5.24%
Meta Platforms Inc Class AMETA	QUS +1.43 points	2.23%	0.80%
Intel CorpINTC	VONV +1.43 points	0.08%	1.51%
JPMorgan Chase & CoJPM	VONV +1.39 points	1.04%	2.43%
Berkshire Hathaway Inc Class BBRK.B	VONV +1.37 points	1.18%	2.55%
AbbVie IncABBV	VONV +0.75 points	0.42%	1.17%
Mckesson CorpMCK	QUS +0.68 points	0.70%	0.02%
Exxonmobil Holdings CorpXOM	VONV +0.62 points	1.22%	1.84%
Motorola Solutions IncMSI	QUS +0.54 points	0.67%	0.13%
Costco Wholesale CorpCOST	QUS +0.52 points	1.15%	0.63%
Philip Morris InternationalPM	VONV +0.52 points	0.30%	0.82%
Thermo Fisher Scientific IncTMO	VONV +0.52 points	0.17%	0.69%
Tjx Companies IncTJX	QUS +0.48 points	0.70%	0.22%
Rtx CorpRTX	VONV +0.48 points	0.21%	0.69%
Goldman Sachs Group IncGS	VONV +0.45 points	0.22%	0.67%
Accenture PLC Class AACN	QUS +0.44 points	0.75%	0.31%
Merck & Co. Inc.MRK	QUS +0.44 points	1.43%	0.99%
Qualcomm IncQCOM	VONV +0.43 points	0.10%	0.53%
Morgan StanleyMS	VONV +0.42 points	0.16%	0.58%
Vertex Pharmaceuticals IncVRTX	QUS +0.40 points	0.77%	0.37%
Adobe IncADBE	QUS +0.40 points	0.48%	0.08%
Chevron CorpCVX	VONV +0.39 points	0.65%	1.04%
Coca Cola Co/TheKO	QUS +0.39 points	1.20%	0.81%
Consolidated Edison IncED	QUS +0.37 points	0.47%	0.10%
UnitedHealth Group IncUNH	VONV +0.36 points	0.55%	0.91%
Republic Services IncRSG	QUS +0.36 points	0.47%	0.11%
Chubb LtdCB	QUS +0.36 points	0.67%	0.31%
Deere & CoDE	VONV +0.36 points	0.10%	0.46%
Waste Management IncWM	QUS +0.35 points	0.50%	0.15%
Roper Technologies IncROP	QUS +0.34 points	0.43%	0.09%
Bank of America CorpBAC	VONV +0.34 points	0.57%	0.91%
Duke Energy CorpDUK	QUS +0.33 points	0.57%	0.24%
Schwab (Charles) CorpSCHW	VONV +0.33 points	0.08%	0.41%
Travelers Cos Inc/TheTRV	QUS +0.33 points	0.53%	0.20%
Dell Technologies CDELL	VONV +0.32 points	0.07%	0.39%
Monster Beverage CorpMNST	QUS +0.32 points	0.41%	0.09%
Gilead Sciences IncGILD	QUS +0.31 points	0.82%	0.51%
Procter & Gamble Co/ThePG	QUS +0.31 points	1.24%	0.93%
Walt Disney Co/TheDIS	VONV +0.30 points	0.20%	0.50%
Nextera Energy IncNEE	VONV +0.30 points	0.14%	0.43%
Danaher CorpDHR	VONV +0.29 points	0.10%	0.39%
Intl Business Machines CorpIBM	VONV +0.28 points	0.29%	0.57%
Southern Co/TheSO	QUS +0.28 points	0.54%	0.26%
Prologis IncPLD	VONV +0.28 points	0.06%	0.34%
Cme Group IncCME	QUS +0.27 points	0.53%	0.26%
Pepsico IncPEP	QUS +0.26 points	0.68%	0.42%
S+p Global IncSPGI	VONV +0.25 points	0.07%	0.32%
Teledyne Technologies IncTDY	QUS +0.25 points	0.33%	0.08%
Progressive CorpPGR	QUS +0.26 points	0.59%	0.33%
Equinix IncEQIX	VONV +0.25 points	0.02%	0.27%
Uber Technologies IncUBER	VONV +0.24 points	0.09%	0.33%
Intuit IncINTU	QUS +0.24 points	0.38%	0.14%
Yum Brands IncYUM	QUS +0.24 points	0.31%	0.07%
Altria Group IncMO	VONV +0.24 points	0.07%	0.31%
Wells Fargo & CoWFC	VONV +0.23 points	0.44%	0.67%
Walmart IncWMT	QUS +0.22 points	1.37%	1.15%
Colgate Palmolive CoCL	QUS +0.22 points	0.33%	0.11%
Freeport Mcmoran IncFCX	VONV +0.23 points	0.05%	0.28%
Pfizer IncPFE	VONV +0.22 points	0.23%	0.45%
Wec Energy Group IncWEC	QUS +0.21 points	0.30%	0.09%
Stryker CorpSYK	VONV +0.21 points	0.05%	0.26%
Johnson & JohnsonJNJ	QUS +0.22 points	1.97%	1.75%
American Express CoAXP	VONV +0.21 points	0.10%	0.31%
Kroger CoKR	QUS +0.20 points	0.29%	0.09%
Centene CorpCNC	QUS +0.20 points	0.28%	0.08%
Lowe’s Cos IncLOW	VONV +0.19 points	0.09%	0.28%
Cboe Global Markets IncCBOE	QUS +0.19 points	0.27%	0.08%
Ptc IncPTC	QUS +0.20 points	0.24%	0.04%
Verisign IncVRSN	QUS +0.20 points	0.26%	0.06%
Church & Dwight Co IncCHD	QUS +0.19 points	0.25%	0.06%
Johnson Controls InternationJCI	VONV +0.19 points	0.04%	0.23%
Csx CorpCSX	VONV +0.19 points	0.05%	0.24%
Emerson Electric CoEMR	VONV +0.19 points	0.05%	0.24%
Verizon Communications IncVZ	QUS +0.18 points	0.71%	0.53%
First Citizens Bcshs Class AFCNCA	QUS +0.17 points	0.22%	0.05%
Constellation EnergyCEG	VONV +0.17 points	0.04%	0.21%
Analog Devices IncADI	VONV +0.17 points	0.32%	0.49%
Cognizant Tech Solutions ACTSH	QUS +0.17 points	0.24%	0.07%
Capital One Financial CorpCOF	VONV +0.17 points	0.15%	0.32%
Autozone IncAZO	QUS +0.17 points	0.28%	0.11%
Neurocrine Biosciences IncNBIX	QUS +0.16 points	0.17%	<0.01%
Automatic Data ProcessingADP	QUS +0.16 points	0.34%	0.18%
Ecolab IncECL	VONV +0.16 points	0.03%	0.19%
Norfolk Southern CorpNSC	VONV +0.15 points	0.04%	0.19%
Medtronic PLCMDT	VONV +0.14 points	0.16%	0.30%
Digital Realty Trust IncDLR	VONV +0.15 points	0.03%	0.18%
Honeywell International IncHON	VONV +0.14 points	0.04%	0.18%
Keurig Dr Pepper IncKDP	QUS +0.14 points	0.25%	0.11%
Bank of New York Mellon CorpBNY	QUS +0.15 points	0.40%	0.25%
United Therapeutics CorpUTHR	QUS +0.14 points	0.20%	0.06%
F5 IncFFIV	QUS +0.14 points	0.21%	0.07%
Hewlett Packard EnterpriseHPE	VONV +0.14 points	0.09%	0.23%
Marsh & Mclennan CosMRSH	QUS +0.14 points	0.37%	0.23%
Newmont CorpNEM	VONV +0.13 points	0.20%	0.33%
Slb LtdSLB	VONV +0.13 points	0.07%	0.20%
Ross Stores IncROST	QUS +0.13 points	0.16%	0.03%
Air Products & Chemicals IncAPD	VONV +0.13 points	0.04%	0.17%
Strategy IncMSTR	VONV +0.13 points	0.02%	0.15%

All 513 QUS 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.

QUS vs VONV Cost

Overpaying QUS vs VONV

$1,867

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

QUS 0.15%
$3,137
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

QUS 0.15%
VONV 0.06%
Overpaying

Year by year

Year	QUS	VONV	Overpaying
10	$274	$110	$164
20	$1,071	$432	$639
30	$3,137	$1,270	$1,867

Expense ratio

0.15%QUS
0.06%VONV, cheaper

VONV0.06%QUS0.15%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VONV 4th cheapest of 99 funds

QUS 13th cheapest of 99 funds

QUS vs VONV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): QUS 1.24%; VONV 1.53%, better
Payout (12M): QUS $2.43; VONV $1.74
Last payment: QUS $1.01; VONV $0.42
Ex-dividend: QUS Jun 1, 2026; VONV Sep 23, 2026
Paid on: QUS Jun 5, 2026; VONV Sep 25, 2026
Frequency: QUS Twice a year; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

QUSTwice a year · 24 paymentsAll QUS payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

QUS vs VONV Risk

Fall from peak · 5 years

QUS
VONV

Risk facts

VolatilityStd dev, 3 years: QUS 10.1%, betterVONV 12.1%
Return per unit of riskSharpe ratio, 3 years: QUS 1.45, betterVONV 1.43
Worst fallMax drawdown, 5 years: QUS −22.3%VONV −18.9%, better
Market sensitivityBeta, 5 years: QUS 0.73VONV 0.85; Market = 1

QUS and VONV in the news

All news⁠

Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026QUSVONV
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

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QUS vs VONV

In short

Stated mandate

Why people hold it

Worth knowing

How QUS and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in QUS

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

How QUS and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in QUS

Only in VONV

Weight gaps