RWLC vs VV: Grades, Fees and Holdings Compared

Rayliant NxtGen Multifactor US Equity ETF

RWLCCNYSE Arca

Vanguard Morningstar Large-Cap ETF

VVANYSE Arca

Overlap

44.6%by weight

Expense ratio

VV −0.29pt a year

RWLC0.32%VV0.03%

Avg volume · 30D

VV 30.6×the volume

RWLC7.31KVV223K

3Y return · a year

RWLC +2.0pt

RWLC+25.6%VV+23.6%

RWLC vs VV Performance

Oct 31, 2025 – Oct 30, 2026

+16.0%RWLC+11.5%VV

Expense ratio: RWLC 0.32%; VV 0.03%, better
Fund size: RWLC $101M; VV $76B
1Y total return: RWLC +16.0%, better; VV +11.5%
Yield (12M): RWLC 12.79%, better; VV 1.03%
Holdings: RWLC 107; VV 423
Avg volume (30D): RWLC 7.31K sh; VV 223K sh, better
NAV per share: RWLC $38.70; VV $348.06
52W range

ETF.net Grade

Pillar letters and Scores for RWLC, VV, with each pillar’s weight
Pillar	RWLC	VV
Cost30% weight	D36	A91Higher
Mission25% weight	B63	A99Higher
Risk15% weight	C54	B55Higher
Tradability15% weight	D25	B57Higher
Holdings10% weight	C53Higher	C51
Durability5% weight	C46	A93Higher

Rank among US Large-Cap funds

How we build Categories ›

Same Category. RWLC and VV are both graded against the same 29 US Large-Cap funds, so their Grades compare head to head.

US Large-Cap⁠

Category · 29 funds

See all 29 ›

VV ranks 4th and RWLC 19th of 29 funds in the US Large-Cap Category.

Rank 1ASCHXSchwab U.S. Large-Cap ETFScore 83
Rank 2ABKLCBNY Mellon US Large Cap Core Equity ETFScore 82
Rank 3AEPSWisdomTree U.S. LargeCap FundScore 80
Rank 4AVVVanguard Morningstar Large-Cap ETFScore 78
Rank 5AIWBiShares Russell 1000 ETFScore 77
Rank 19CBLUCBluemonte Large Cap Core ETFScore 46
Rank 19CRWLCRayliant NxtGen Multifactor US Equity ETFScore 46
Rank 21CNBCRNeuberger Berman Core Equity ETFScore 42

Our read on each fund

ETF.net Research

RWLCCRayliant NxtGen Multifactor US Equity ETF

VVAVanguard Morningstar Large-Cap ETF

In short

RWLC A boutique quant shop's swing at US large caps: RWLC follows the FT Wilshire US Large NxtGen Index, a published multifactor rulebook rather than a plain cap-weighted list, and charges the category's middle price to do it.

VV Vanguard's rules-based read on large cap: own whatever sits in the top 85% of the US market, about 500 names, for 0.03% a year. Running since 2004.

Stated mandate

RWLC The Fund seeks long-term capital appreciation.

VV The fund seeks to track the CRSP US Large Cap Index through a passive, full-replication strategy focused predominantly on large U.S. companies diversified across growth and value styles.

Why people hold it

RWLC 0.32% expense ratio, right at the median for US multifactor ETFs. The rules-based tilt costs no more than the typical competitor in the group.
The stock picks come from an outside index provider (the FT Wilshire US Large NxtGen Index), so the selection rules are published rather than left to a manager's mood.
Simple plumbing: a standard 1940 Act US equity fund with one stated goal, long-term capital appreciation, and no structural red flags in the wrapper.
Live since 2021, so there is a multi-year record of the strategy running with real money, not just a backtest of the index.

VV Charges 0.03% a year against a 0.14% median for its large-cap peer group. Among the cohort's top names, only SCHX matches that fee.
Full replication: it buys every stock in the index at roughly index weight, and it has tracked that benchmark very closely.vanguard.com
The ETF share class of a Vanguard index fund launched in 2004, now a multi-billion-dollar strategy with mutual fund siblings alongside it.vanguard.com
Cost, tracking and staying power put it in the top tier of a crowded 24-fund large-cap cohort.

Worth knowing

RWLC Small and thinly traded next to the category's giants. Spreads can be wider, which makes limit orders and mid-session trading worth the extra care.
The peer shelf includes broad, deeply cheap alternatives such as VONV, VYM and IUSG at single-digit basis points. You are paying up for the factor rulebook.
Distributions land annually or semiannually, not monthly, so this is a growth-mandate fund rather than an income schedule.

VV Market-cap weighted, so the biggest US companies (and their sector tilts) carry most of the weight.vanguard.com
The index stops at the top 85% of US investable market cap: mid- and small-cap names sit outside it.vanguard.com
After Morningstar acquired CRSP, the benchmark and the fund name picked up the Morningstar label. Same index, same fund.vanguard.com vanguard.com 2

Full RWLC profile⁠

Full VV profile⁠

RWLC vs VV Holdings

How RWLC and VV differ

Overlap by weight

44.6%

Shared holdings make up 95.1% of RWLC and 56.0% of VV.

Level by level

Holdings91 in both44.6%
Sector11 Sectors90.9%
Countryby domicile99.3%
Asset classEquity100%

Sector

Sector weights in RWLC and VV, widest gap first
Sector	More in RWLCMore in VV	RWLC	VV
Industrials	VV +5.7 points	1.9%	7.6%
Health Care	RWLC +3.4 points	12.6%	9.2%
Energy	RWLC +2.4 points	5.9%	3.5%
Utilities	VV +1.7 points	0.0%	1.7%
Technology	RWLC +1.6 points	42.7%	41.1%
Financials	RWLC +0.9 points	12.2%	11.3%
Real Estate	VV +0.8 points	0.7%	1.5%
Communication	VV +0.6 points	9.4%	10.0%
Consumer Discretionary	RWLC +0.4 points	8.7%	8.3%
Materials	RWLC +0.3 points	1.9%	1.6%
Consumer Staples	VV +0.2 points	4.1%	4.3%

Country, concentration and asset class

Country by domicile

Country weights in RWLC and VV, widest gap first
Country	More in RWLCMore in VV	RWLC	VV
United States	VV +0.7 points	99.3%	100.0%
Switzerland	RWLC +0.7 points	0.7%	0.0%

Concentration

Weight in the 10 largest Holdings

RWLC37.2%
VV39.5%

Securities held

RWLC106
VV422

Asset class

RWLC: Equity
VV: Equity

Holdings

Only in RWLC15
In both91
Only in VV331

Only in RWLC

15 securities, 4.4% of RWLC by weight

Chubb Ltd0.71%
Vylor Inc0.61%
Casey's General Stores Inc0.41%
Tapestry Inc0.37%
Incyte Corp0.34%
Cf Industries Holdings Inc0.30%
Hasbro Inc0.26%
Ralph Lauren Corp0.24%
Everest Group Ltd0.23%
Assurant Inc0.23%
Godaddy Inc - Class A0.22%
Albemarle Corp0.18%
Domino's Pizza Inc0.15%
Universal Health Services-B0.12%
Jm Smucker Co/The0.06%

Only in VV

331 securities, 44.0% of VV by weight

Tesla Inc1.55%
JPMorgan Chase & Co1.37%
Berkshire Hathaway Inc1.35%
Johnson & Johnson0.99%
Visa Inc0.88%
Intel Corp0.84%
Walmart Inc0.71%
Chevron Corp0.60%
Cisco Systems Inc0.59%
Caterpillar Inc0.58%
Bank of America Corp0.56%
Procter & Gamble Co/The0.52%
Coca-Cola Co/The0.52%
General Electric Co0.50%
Palo Alto Networks Inc0.50%
Philip Morris International Inc0.46%
Home Depot Inc/The0.44%
Crowdstrike Holdings Inc0.40%
Texas Instruments Inc0.40%
RTX Corp0.39%
Thermo Fisher Scientific Inc0.39%
Goldman Sachs Group Inc/The0.38%
Wells Fargo & Co0.38%
Oracle Corp0.37%
Marvell Technology Inc0.36%
Amgen Inc0.35%
Morgan Stanley0.34%
Linde PLC0.34%
Citigroup Inc0.34%
Amphenol Corp0.32%
International Business Machines Corp0.32%
QUALCOMM Inc0.30%
Analog Devices Inc0.30%
Verizon Communications Inc0.30%
Walt Disney Co/The0.28%
Salesforce Inc0.28%
PepsiCo Inc0.27%
Deere & Co0.27%
Abbott Laboratories0.27%
Eaton Corp PLC0.26%
Welltower Inc0.26%
McDonald's Corp0.25%
Pfizer Inc0.25%
Union Pacific Corp0.25%
Charles Schwab Corp/The0.25%
NextEra Energy Inc0.25%
American Express Co0.24%
ConocoPhillips0.23%
Blackrock Inc0.23%
Boeing Co/The0.23%

Weight gaps

All 91 Holdings in both funds, largest gap first.

Holding weights in RWLC and VV, widest gap first
Holding	More in RWLCMore in VV	RWLC	VV
Mastercard Inc - AMA	RWLC +2.25 points	2.92%	0.67%
Gilead Sciences IncGILD	RWLC +2.02 points	2.31%	0.29%
Microsoft CorpMSFT	VV +1.98 points	3.94%	5.92%
NVIDIA CorpNVDA	VV +1.95 points	6.17%	8.12%
Apple IncAAPL	RWLC +1.93 points	9.48%	7.55%
Altria Group IncMO	RWLC +1.93 points	2.10%	0.17%
Marathon Petroleum CorpMPC	RWLC +1.72 points	1.89%	0.17%
Mckesson CorpMCK	RWLC +1.65 points	1.80%	0.15%
Meta Platforms IncMETA	VV +1.61 points	0.86%	2.48%
Valero Energy CorpVLO	RWLC +1.57 points	1.74%	0.17%
Amazon.com IncAMZN	VV +1.54 points	2.22%	3.76%
Adobe IncADBE	RWLC +1.47 points	1.62%	0.15%
Bank of New York Mellon CorpBNY	RWLC +1.42 points	1.57%	0.15%
Broadcom IncAVGO	VV +1.38 points	1.22%	2.60%
Fortinet IncFTNT	RWLC +1.25 points	1.42%	0.17%
Travelers Cos Inc/TheTRV	RWLC +1.23 points	1.35%	0.12%
Advanced Micro DevicesAMD	VV +1.15 points	0.40%	1.55%
Williams Cos IncWMB	RWLC +1.11 points	1.24%	0.13%
General Motors CoGM	RWLC +1.10 points	1.21%	0.10%
Eli Lilly & CoLLY	RWLC +1.10 points	2.62%	1.52%
Lam Research CorpLRCX	RWLC +1.09 points	1.73%	0.64%
Progressive CorpPGR	RWLC +1.07 points	1.26%	0.19%
Automatic Data ProcessingADP	RWLC +1.04 points	1.20%	0.16%
Allstate CorpALL	RWLC +0.97 points	1.06%	0.09%
O'reilly Automotive IncORLY	RWLC +0.95 points	1.06%	0.11%
Autodesk IncADSK	RWLC +0.92 points	0.99%	0.07%
Seagate Technology HoldingsSTX	RWLC +0.86 points	1.18%	0.32%
Cardinal Health IncCAH	RWLC +0.85 points	0.93%	0.08%
Targa Resources CorpTRGP	RWLC +0.81 points	0.90%	0.09%
Nucor CorpNUE	RWLC +0.79 points	0.87%	0.08%
Regeneron PharmaceuticalsREGN	RWLC +0.78 points	0.90%	0.12%
Western Digital CorpWDC	RWLC +0.78 points	1.02%	0.24%
Ebay IncEBAY	RWLC +0.73 points	0.80%	0.07%
State Street CorpSTT	RWLC +0.72 points	0.79%	0.07%
Comfort Systems Usa IncFIX	RWLC +0.67 points	0.76%	0.09%
Teradyne IncTER	RWLC +0.64 points	0.74%	0.10%
Netapp IncNTAP	RWLC +0.63 points	0.69%	0.06%
Dell Technologies -CDELL	RWLC +0.63 points	0.87%	0.24%
Booking Holdings IncBKNG	RWLC +0.61 points	0.80%	0.19%
American International GroupAIG	RWLC +0.60 points	0.66%	0.06%
Idexx Laboratories IncIDXX	RWLC +0.59 points	0.65%	0.06%
Airbnb Inc-Class AABNB	RWLC +0.58 points	0.68%	0.10%
Kroger CoKR	RWLC +0.55 points	0.60%	0.05%
AbbVie IncABBV	RWLC +0.53 points	1.25%	0.72%
Humana IncHUM	RWLC +0.54 points	0.60%	0.07%
Steel Dynamics IncSTLD	RWLC +0.53 points	0.55%	0.02%
Micron Technology IncMU	RWLC +0.52 points	2.39%	1.87%
Corteva IncCTVA	RWLC +0.51 points	0.59%	0.08%
Hartford Insurance Group Inc/TheHIG	RWLC +0.50 points	0.55%	0.05%
Expedia Group IncEXPE	RWLC +0.49 points	0.54%	0.05%
Cboe Global Markets IncCBOE	RWLC +0.49 points	0.53%	0.04%
Exxonmobil Holdings CorpXOM	RWLC +0.45 points	1.50%	1.05%
Msci IncMSCI	RWLC +0.44 points	0.49%	0.05%
Arista Networks IncANET	RWLC +0.43 points	0.77%	0.34%
Applied Materials IncAMAT	VV +0.40 points	0.23%	0.63%
Hilton Worldwide Holdings InHLT	RWLC +0.38 points	0.49%	0.11%
Synchrony FinancialSYF	RWLC +0.37 points	0.41%	0.04%
Verisign IncVRSN	RWLC +0.36 points	0.40%	0.04%
Ameriprise Financial IncAMP	RWLC +0.36 points	0.43%	0.07%
Alphabet Inc-Cl AGOOGL	VV +0.36 points	2.78%	3.14%
Bristol-Myers Squibb CoBMY	RWLC +0.34 points	0.54%	0.20%
UnitedHealth Group IncUNH	VV +0.34 points	0.17%	0.51%
Cencora IncCOR	RWLC +0.34 points	0.42%	0.08%
Ge Vernova IncGEV	RWLC +0.34 points	0.73%	0.39%
Centene CorpCNC	RWLC +0.31 points	0.33%	0.02%
Colgate-Palmolive CoCL	RWLC +0.27 points	0.38%	0.11%
Kla CorpKLAC	VV +0.27 points	0.13%	0.40%
Wr Berkley CorpWRB	RWLC +0.25 points	0.27%	0.02%
Netflix IncNFLX	RWLC +0.23 points	0.68%	0.45%
Sandisk CorpSNDK	RWLC +0.21 points	0.61%	0.40%
Fair Isaac CorpFICO	RWLC +0.21 points	0.23%	0.02%
Fox Corp - Class AFOXA	RWLC +0.18 points	0.20%	0.02%
Merck & Co. Inc.MRK	VV +0.18 points	0.38%	0.56%
Costco Wholesale CorpCOST	RWLC +0.17 points	0.80%	0.63%
Metlife IncMET	RWLC +0.15 points	0.23%	0.08%
Applovin Corp-Class AAPP	RWLC +0.14 points	0.27%	0.13%
Monolithic Power Systems IncMPWR	RWLC +0.13 points	0.23%	0.10%
Ciena CorpCIEN	RWLC +0.13 points	0.21%	0.08%
Palantir Technologies Inc-APLTR	RWLC +0.12 points	0.76%	0.64%
Veeva Systems Inc-Class AVEEV	RWLC +0.12 points	0.18%	0.06%
AT&T IncT	VV +0.11 points	0.15%	0.26%
Fox Corp - Class BFOX	RWLC +0.11 points	0.12%	0.01%
Tyson Foods Inc-Cl ATSN	RWLC +0.10 points	0.11%	0.01%
Alphabet Inc-Cl CGOOG	VV +0.10 points	2.39%	2.49%
Darden Restaurants IncDRI	RWLC +0.07 points	0.10%	0.03%
Snap-On IncSNA	RWLC +0.05 points	0.08%	0.03%
Reddit Inc-Cl ARDDT	RWLC +0.02 points	0.05%	0.03%
Simon Property Group IncSPG	RWLC +0.01 points	0.11%	0.10%
Vertex Pharmaceuticals IncVRTX	VV +0.02 points	0.19%	0.21%
Ross Stores IncROST	VV +0.01 points	0.11%	0.12%
Uber Technologies IncUBER	Same weight	0.21%	0.21%

All 113 RWLC holdings⁠All 479 VV 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.

RWLC vs VV Cost

Overpaying RWLC vs VV

$5,904

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

RWLC 0.32%
$6,542
VV 0.03%
$638

Amount$10,000

Years30 years

Cost over time

RWLC 0.32%
VV 0.03%
Overpaying

Year by year

Year	RWLC	VV	Overpaying
10	$580	$55	$525
20	$2,250	$216	$2,034
30	$6,542	$638	$5,904

Expense ratio

0.32%RWLC
0.03%VV, cheaper

VV0.03%RWLC0.32%

0.00%1.25%

Middle half of US Large-Cap funds
Median 0.20%

VV 3rd cheapest of 29 funds

RWLC 19th cheapest of 29 funds

RWLC vs VV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): RWLC 12.79%, better; VV 1.03%
Payout (12M): RWLC $4.88; VV $3.60
Last payment: RWLC $4.88; VV $0.90
Ex-dividend: RWLC Dec 30, 2025; VV Sep 28, 2026
Paid on: RWLC Jan 7, 2026; VV Sep 30, 2026
Frequency: RWLC Annual; VV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

RWLCAnnual · 4 paymentsAll RWLC payments⁠

VVQuarterly · 39 paymentsAll VV payments⁠

RWLC vs VV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: RWLC 11.1%, betterVV 12.5%
Return per unit of riskSharpe ratio, 3 years: RWLC 1.73, betterVV 1.41
Worst fallMax drawdown, 5 years: RWLC −21.0%since Dec 2021VV −25.7%
Market sensitivityBeta, 5 years: RWLC 0.85VV 1.02; Market = 1

RWLC and VV in the news

All news⁠

Head-to-Head
IVW vs. VV: iShares’ growth ETF holds almost nothing Vanguard’s doesn’t, at six times the fee
Oct 28, 2026VV
Category Review
Broad U.S. large-cap funds kept pace with the S&P 500 this year. The top 50 did not.
Updated Oct 16, 2026VV

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RWLC vs VV

In short

Stated mandate

Why people hold it

Worth knowing

How RWLC and VV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in RWLC

Only in VV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

IVW vs. VV: iShares’ growth ETF holds almost nothing Vanguard’s doesn’t, at six times the fee

Broad U.S. large-cap funds kept pace with the S&P 500 this year. The top 50 did not.

How RWLC and VV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in RWLC

Only in VV

Weight gaps