RND vs SPYV: Grades, Fees and Holdings Compared

First Trust Bloomberg R&D Leaders ETF

RNDFNYSE Arca

State Street SPDR Portfolio S&P 500 Value ETF

SPYVANYSE Arca

Overlap

19.2%by weight

Expense ratio

SPYV −0.56pt a year

RND0.60%SPYV0.04%

Avg volume · 30D

SPYV 556.6×the volume

RND3.78KSPYV2.1M

RND vs SPYV Performance

Oct 31, 2025 – Oct 30, 2026

+4.6%RND+16.6%SPYV

Expense ratio: RND 0.60%; SPYV 0.04%, better
Fund size: RND $10M; SPYV $39.2B
1Y total return: RND +4.6%; SPYV +16.6%, better
Yield (12M): RND 0.00%; SPYV 1.65%, better
Holdings: RND 51; SPYV 437
Avg volume (30D): RND 3.78K sh; SPYV 2.1M sh, better
NAV per share: RND $32.43; SPYV $64.64
52W range

ETF.net Grade

Pillar letters and Scores for RND, SPYV, with each pillar’s weight
Pillar	RND	SPYV
Cost30% weight	F20	A98Higher
Mission25% weight	Not scored	A86
Risk15% weight	F11	A82Higher
Tradability15% weight	C46	A97Higher
Holdings10% weight	F24	A71Higher
Durability5% weight	F24	A86Higher

Rank among Other Major Indexes funds

How we build Categories ›

Same Category. RND and SPYV are both graded against the same 42 Other Major Indexes funds, so their Grades compare head to head.

Other Major Indexes⁠

Category · 42 funds

See all 42 ›

SPYV ranks 1st and RND 39th of 42 funds in the Other Major Indexes Category.

Rank 1ASPYVState Street SPDR Portfolio S&P 500 Value ETFScore 89
Rank 2ASCHKSchwab 1000 Index ETFScore 86
Rank 39DKEMQKraneShares Public-Private Emerging Markets Internet and Technology ETFScore 24
Rank 39FRNDFirst Trust Bloomberg R&D Leaders ETFScore 24
Rank 41FGYLDArrow Dow Jones Global Yield ETFScore 21

Our read on each fund

ETF.net Research

RNDFFirst Trust Bloomberg R&D Leaders ETF

SPYVAState Street SPDR Portfolio S&P 500 Value ETF

In short

RND Most index funds rank companies by size. RND ranks them by research budget, holding roughly 50 heavy R&D spenders picked by the Bloomberg R&D Leaders Select Index. First Trust launched it in 2024.

SPYV The value side of the S&P 500, tracked since 2000 for four basis points. It does one thing: hold the index names that screen cheap, and charge close to nothing for the privilege.

Stated mandate

RND The Fund seeks to track the price and yield performance of the Bloomberg R&D Leaders Select Index before fees and expenses, generally investing at least 80% of assets in index securities.

SPYV The fund seeks to track, before fees and expenses, the total return of the S&P 500 Value Index.

Why people hold it

RND Buys the research spenders directly. The Bloomberg R&D Leaders Select Index does the choosing, so lab budgets drive the portfolio instead of market cap.ftportfolios.com
Concentrated on purpose: roughly 50 names, so the R&D theme actually shows through instead of getting diluted across hundreds of holdings.
Rules, not hunches. At least 80% of assets sit in index securities, and the index rebuilds by its own published method.ftportfolios.com

SPYV 0.04% a year. VOOV tracks the identical S&P 500 Value Index and charges 0.07%, so this is the same exposure at a lower fee.
Trading since 2000 and now a multi-billion-dollar fund that changes hands actively, so the plumbing is well worn.
No stock picking, no factor secret sauce: it aims to match the S&P 500 Value Index before fees, and it is one of the cleaner implementations in its peer group.ssga.com

Worth knowing

RND 0.60% a year is above the typical index-tracking ETF and many times what broad core trackers like SCHK (0.03%) or VXF (0.05%) charge for the whole market.
Small fund, light trading. Thin markets tend to mean wider bid-ask spreads, a cost that lands on top of the expense ratio.
Launched in 2024, so the live record is short and there is little history for judging how closely the fund shadows its index.

SPYV This is one style slice, roughly 400 value-screened names, not the whole S&P 500. It will move differently from the full index.
Value goes through long stretches in and out of favor. The fund follows the index rules either way, with no manager stepping in.
Distributions land quarterly, not monthly.

Full RND profile⁠

Full SPYV profile⁠

RND vs SPYV Holdings

How RND and SPYV differ

Overlap by weight

19.2%

Shared holdings make up 42.3% of RND and 22.0% of SPYV.

Level by level

Holdings27 in both19.2%
Sector11 Sectors58.3%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in RND and SPYV, widest gap first
Sector	More in RNDMore in SPYV	RND	SPYV
Technology	RND +25.7 points	46.5%	20.8%
Financials	SPYV +14.2 points	1.0%	15.2%
Communication	RND +9.8 points	12.3%	2.5%
Energy	SPYV +8.2 points	0.0%	8.2%
Consumer Staples	SPYV +7.8 points	1.2%	9.0%
Consumer Discretionary	RND +4.7 points	14.5%	9.8%
Utilities	SPYV +4.0 points	0.0%	4.0%
Real Estate	SPYV +3.1 points	0.0%	3.1%
Materials	SPYV +2.4 points	0.9%	3.3%
Industrials	SPYV +2.0 points	8.8%	10.8%
Health Care	RND +1.6 points	14.9%	13.3%

Country, concentration and asset class

Country by domicile

Country weights in RND and SPYV, widest gap first
Country	More in RNDMore in SPYV	RND	SPYV
United States	RND +0.8 points	100.0%	99.2%
Switzerland	SPYV +0.6 points	0.0%	0.6%
Other countries (3)	SPYV +0.2 points	0.0%	0.2%

Concentration

Weight in the 10 largest Holdings

RND59.6%
SPYV24.4%

Securities held

RND50
SPYV435

Asset class

RND: Equity
SPYV: Equity

Holdings

Only in RND23
In both27
Only in SPYV408

Only in RND

23 securities, 57.5% of RND by weight

Microsoft Corporation8.42%
NVIDIA Corporation7.41%
Alphabet Inc. (Class A)6.73%
Eli Lilly and Company5.07%
Broadcom Inc.3.84%
Meta Platforms, Inc. (Class A)3.51%
Micron Technology, Inc.3.44%
Advanced Micro Devices, Inc.3.41%
Netflix, Inc.3.12%
GE Vernova Inc.2.77%
Amphenol Corporation2.35%
Intuitive Surgical, Inc.1.84%
Uber Technologies, Inc.1.60%
Booking Holdings Inc.1.38%
Vertiv Holdings Co (Class A)1.07%
Palantir Technologies Inc. (Class A)0.37%
Applied Materials, Inc.0.28%
Lam Research Corporation0.27%
CrowdStrike Holdings, Inc. (Class A)0.23%
Arista Networks, Inc.0.16%
Snowflake Inc. (Class A)0.09%
Cloudflare, Inc. (Class A)0.08%
Datadog, Inc. (Class A)0.07%

Only in SPYV

408 securities, 77.9% of SPYV by weight

Exxonmobil Holdings Corp2.46%
Walmart Inc1.76%
Intel Corp1.49%
Chevron Corp1.49%
Costco Wholesale Corp1.44%
Procter & Gamble Co/The1.22%
UnitedHealth Group Inc1.20%
Merck & Co. Inc.1.18%
Bank of America Corp1.08%
Home Depot Inc1.07%
Visa Inc Class A Shares1.03%
JPMorgan Chase & Co0.95%
AbbVie Inc0.90%
Johnson & Johnson0.89%
Thermo Fisher Scientific Inc0.85%
Wells Fargo & Co0.84%
Linde PLC0.76%
Analog Devices Inc0.69%
Citigroup Inc0.69%
Coca Cola Co/The0.68%
Qualcomm Inc0.65%
Walt Disney Co/The0.62%
Pepsico Inc0.59%
Verizon Communications Inc0.59%
Abbott Laboratories0.59%
Conocophillips0.59%
Union Pacific Corp0.58%
Nextera Energy Inc0.56%
Pfizer Inc0.56%
Mastercard Inc A0.55%
BlackRock Inc0.55%
Deere & Co0.54%
General Electric0.51%
Accenture PLC Class A0.49%
Schwab (Charles) Corp0.47%
At+t Inc0.47%
Philip Morris International0.47%
Western Digital Corp0.46%
Lockheed Martin Corp0.43%
Altria Group Inc0.42%
Capital One Financial Corp0.42%
Chubb Ltd0.41%
Prologis Inc0.40%
Marathon Petroleum Corp0.40%
Starbucks Corp0.39%
Lowe’s Cos Inc0.38%
Cvs Health Corp0.38%
Mckesson Corp0.37%
Valero Energy Corp0.36%
Phillips 660.36%

Weight gaps

All 27 Holdings in both funds, largest gap first.

Holding weights in RND and SPYV, widest gap first
Holding	More in RNDMore in SPYV	RND	SPYV
Amazon.com, Inc.AMZN	RND +4.32 points	7.98%	3.66%
Tesla, Inc.TSLA	RND +3.25 points	4.66%	1.41%
Amgen Inc.AMGN	RND +2.79 points	3.04%	0.26%
Gilead Sciences, Inc.GILD	RND +2.25 points	2.56%	0.31%
Danaher CorporationDHR	RND +1.32 points	1.80%	0.48%
Vertex Pharmaceuticals IncorporatedVRTX	RND +1.27 points	1.72%	0.45%
Eaton Corporation PlcETN	RND +1.24 points	1.74%	0.50%
CME Group Inc.CME	RND +1.17 points	1.32%	0.15%
Bristol-Myers Squibb CompanyBMY	RND +1.14 points	1.55%	0.41%
Medtronic PlcMDT	RND +1.11 points	1.50%	0.39%
Automatic Data Processing, Inc.ADP	RND +1.04 points	1.41%	0.37%
Stryker CorporationSYK	RND +1.04 points	1.25%	0.21%
Trane Technologies plcTT	RND +0.95 points	1.10%	0.15%
Texas Instruments IncorporatedTXN	SPYV +0.68 points	0.25%	0.93%
Salesforce, Inc.CRM	SPYV +0.46 points	0.16%	0.62%
Dell Technologies Inc. (Class C)DELL	SPYV +0.36 points	0.11%	0.47%
Cisco Systems, Inc.CSCO	SPYV +0.32 points	0.34%	0.66%
Apple Inc.AAPL	RND +0.26 points	8.56%	8.30%
Adobe IncorporatedADBE	SPYV +0.23 points	0.09%	0.32%
Marvell Technology, Inc.MRVL	SPYV +0.17 points	0.16%	0.33%
Palo Alto Networks, Inc.PANW	SPYV +0.17 points	0.27%	0.44%
Oracle CorporationORCL	SPYV +0.18 points	0.20%	0.38%
International Business Machines CorporationIBM	SPYV +0.16 points	0.22%	0.38%
ServiceNow, Inc.NOW	SPYV +0.04 points	0.10%	0.14%
Cadence Design Systems, Inc.CDNS	SPYV +0.03 points	0.08%	0.11%
Fortinet, Inc.FTNT	SPYV +0.02 points	0.08%	0.10%
Corning IncorporatedGLW	SPYV +0.01 points	0.09%	0.10%

All 50 RND holdings⁠All 435 SPYV 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.

RND vs SPYV Cost

Overpaying RND vs SPYV

$10,968

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

RND 0.60%
$11,817
SPYV 0.04%
$849

Amount$10,000

Years30 years

Cost over time

RND 0.60%
SPYV 0.04%
Overpaying

Year by year

Year	RND	SPYV	Overpaying
10	$1,076	$73	$1,003
20	$4,116	$288	$3,828
30	$11,817	$849	$10,968

Expense ratio

0.60%RND
0.04%SPYV, cheaper

SPYV0.04%RND0.60%

0.03%0.75%

Middle half of Other Major Indexes funds
Median 0.29%

SPYV 2nd cheapest of 42 funds

RND 33rd cheapest of 42 funds

RND vs SPYV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): RND 0.00%; SPYV 1.65%, better
Payout (12M): RND None; SPYV $1.06
Last payment: RND No data; SPYV $0.27
Ex-dividend: RND No data; SPYV Sep 21, 2026
Paid on: RND No data; SPYV Sep 23, 2026
Frequency: RND No data; SPYV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

RND1 paymentAll RND payments⁠

SPYVQuarterly · 39 paymentsAll SPYV payments⁠

RND vs SPYV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: RND 15.9%since Jun 2024SPYV 11.7%
Return per unit of riskSharpe ratio, 3 years: RND 0.95since Jun 2024SPYV 1.17
Worst fallMax drawdown, 5 years: RND −23.5%since May 2024SPYV −17.9%
Market sensitivityBeta, 5 years: RND 1.23SPYV 0.83; Market = 1

RND and SPYV in the news

All news⁠

Best ETFs
Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list
Updated Nov 2, 2026SPYV
Best ETFs
The best value ETF depends on whose list you bought
Updated Oct 2, 2026SPYV

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RND vs SPYV

In short

Stated mandate

Why people hold it

Worth knowing

How RND and SPYV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in RND

Only in SPYV

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

How RND and SPYV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in RND

Only in SPYV

Weight gaps