SMOT vs VONV: Grades, Fees and Holdings Compared

VanEck Morningstar SMID Moat ETF

SMOTCCboe

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

6.0%by weight

Expense ratio

VONV −0.43pt a year

SMOT0.49%VONV0.06%

Avg volume · 30D

VONV 35.9×the volume

SMOT21.6KVONV774K

3Y return · a year

VONV +6.3pt

SMOT+16.9%VONV+23.2%

SMOT vs VONV Performance

Oct 31, 2025 – Oct 30, 2026

+14.8%SMOT+28.5%VONV

Expense ratio: SMOT 0.49%; VONV 0.06%, better
Fund size: SMOT $324M; VONV $23.3B
1Y total return: SMOT +14.8%; VONV +28.5%, better
Yield (12M): SMOT 1.23%; VONV 1.53%, better
Holdings: SMOT 111; VONV 873
Avg volume (30D): SMOT 21.6K sh; VONV 774K sh, better
NAV per share: SMOT $40.63; VONV $113.44
52W range

ETF.net Grade

Pillar letters and Scores for SMOT, VONV, with each pillar’s weight
Pillar	SMOT	VONV
Cost30% weight	D26	A96Higher
Mission25% weight	B62	A100Higher
Risk15% weight	D34	A86Higher
Tradability15% weight	B56	B60Higher
Holdings10% weight	B63Higher	C49
Durability5% weight	D34	A93Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. SMOT 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 SMOT 77th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 77CQQEWFirst Trust Nasdaq-100 Select Equal Weight ETFScore 44
Rank 77CSMOTVanEck Morningstar SMID Moat ETFScore 44
Rank 81CDVLUFirst Trust Dorsey Wright Momentum & Value ETFScore 43

Our read on each fund

ETF.net Research

SMOTCVanEck Morningstar SMID Moat ETF

VONVAVanguard Russell 1000 Value ETF

In short

SMOT Morningstar's moat research, aimed down the cap ladder. SMOT tracks an index of small- and mid-cap companies flagged for durable competitive advantages, and buys them only when they screen as attractively valued.

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

SMOT The fund seeks to track, before fees and expenses, the price and yield performance of the Morningstar US Small-Mid Cap Moat Focus Index, an index of small- and mid-cap companies selected for sustainable competitive advantages and attractive valuations.

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

SMOT Two screens, not one: companies must show a sustainable competitive advantage AND look attractively valued. Quality and value in a single published rulebook rather than a manager's hunch.vaneck.com
Takes the moat idea into small- and mid-cap territory, where wide-moat businesses are scarcer and less picked over than in the mega-cap crowd.vaneck.com
Roughly 120 US stocks: concentrated enough for the moat screen to actually show up in returns, broad enough that no single name dominates the portfolio.
Fully rules-based against a named, public benchmark (Morningstar US Small-Mid Cap Moat Focus Index), so you can read the methodology instead of guessing at it.

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

SMOT The research costs money: 0.49% a year, well above plain factor workhorses like FNDX at 0.25% or VONV at 0.06%. You're paying for the moat screen.
Thinly traded compared with the giants of the US factor aisle, which can mean wider bid-ask spreads. Distributions arrive once or twice a year, not monthly.
Launched in 2022, so the live record is short, and in a crowded field of 100-plus US factor funds it lands in the lower half of our overall read.

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 SMOT profile⁠

Full VONV profile⁠

SMOT vs VONV Holdings

How SMOT and VONV differ

Overlap by weight

6.0%

Shared holdings make up 92.6% of SMOT and 6.0% of VONV.

Level by level

Holdings100 in both6.0%
Sector11 Sectors66.9%
Countryby domicile98.5%
Asset classEquity100%

Sector

Sector weights in SMOT and VONV, widest gap first
Sector	More in SMOTMore in VONV	SMOT	VONV
Technology	VONV +14.0 points	7.9%	21.9%
Financials	VONV +10.9 points	7.0%	17.9%
Health Care	SMOT +10.2 points	23.6%	13.4%
Industrials	SMOT +9.2 points	18.7%	9.5%
Materials	SMOT +7.0 points	10.3%	3.3%
Consumer Staples	SMOT +5.8 points	13.0%	7.2%
Energy	VONV +4.8 points	1.4%	6.2%
Real Estate	VONV +1.9 points	1.6%	3.5%
Communication	VONV +1.5 points	1.9%	3.4%
Utilities	SMOT +0.4 points	3.8%	3.4%
Consumer Discretionary	SMOT +0.4 points	10.8%	10.4%

Country, concentration and asset class

Country by domicile

Country weights in SMOT and VONV, widest gap first
Country	More in SMOTMore in VONV	SMOT	VONV
United States	VONV +1.5 points	98.5%	100.0%
United Kingdom	SMOT +1.5 points	1.5%	0.0%

Concentration

Weight in the 10 largest Holdings

SMOT14.8%
VONV29.8%

Securities held

SMOT109
VONV871

Asset class

SMOT: Equity
VONV: Equity

Holdings

Only in SMOT9
In both100
Only in VONV771

Only in SMOT

9 securities, 7.3% of SMOT by weight

Terex Corp1.16%
Portland General Electric Co1.13%
Airbnb Inc0.81%
Nxp Semiconductors Nv0.77%
Cencora Inc0.76%
Atlassian Corp0.71%
Dexcom Inc0.67%
Monolithic Power Systems Inc0.65%
Warner Music Group Corp0.64%

Only in VONV

771 securities, 93.9% of VONV by weight

Amazon.com Inc6.09%
Apple Inc6.07%
Microsoft Corp5.24%
Berkshire Hathaway Inc2.55%
JPMorgan Chase & Co2.43%
ExxonMobil Holdings Corp1.84%
Johnson & Johnson1.75%
Intel Corp1.51%
AbbVie Inc1.17%
Cisco Systems Inc1.17%
Walmart Inc1.15%
Chevron Corp1.04%
Merck & Co Inc0.99%
Procter & Gamble Co/The0.93%
UnitedHealth Group Inc0.91%
Bank of America Corp0.91%
Philip Morris International Inc0.82%
Coca-Cola Co/The0.81%
Meta Platforms Inc0.80%
Thermo Fisher Scientific Inc0.69%
RTX Corp0.69%
Goldman Sachs Group Inc/The0.67%
Wells Fargo & Co0.67%
Costco Wholesale Corp0.63%
Linde PLC0.60%
Morgan Stanley0.58%
International Business Machines Corp0.57%
QUALCOMM Inc0.53%
Verizon Communications Inc0.53%
Gilead Sciences Inc0.51%
Salesforce Inc0.50%
Walt Disney Co/The0.50%
Citigroup Inc0.50%
Analog Devices Inc0.49%
Abbott Laboratories0.47%
Welltower Inc0.46%
Deere & Co0.46%
McDonald's Corp0.45%
AT&T Inc0.45%
Pfizer Inc0.45%
Blackrock Inc0.44%
NextEra Energy Inc0.43%
ConocoPhillips0.42%
PepsiCo Inc0.42%
Union Pacific Corp0.41%
Charles Schwab Corp/The0.41%
Dell Technologies Inc0.39%
Eaton Corp PLC0.39%
Danaher Corp0.39%
Vertex Pharmaceuticals Inc0.37%

Weight gaps

All 100 Holdings in both funds, largest gap first.

Holding weights in SMOT and VONV, widest gap first
Holding	More in SMOTMore in VONV	SMOT	VONV
Lamb Weston Holdings IncLW	SMOT +1.47 points	1.49%	0.02%
Masco CorpMAS	SMOT +1.46 points	1.50%	0.04%
Estee Lauder Cos Inc/TheEL	SMOT +1.46 points	1.51%	0.05%
Becton Dickinson & CoBDX	SMOT +1.44 points	1.58%	0.14%
Veralto CorpVLTO	SMOT +1.43 points	1.49%	0.06%
Amcor PlcAMCR	SMOT +1.42 points	1.47%	0.05%
Global Payments IncGPN	SMOT +1.40 points	1.45%	0.05%
Ge Healthcare Technologies IncGEHC	SMOT +1.40 points	1.48%	0.08%
Huntington Ingalls Industries IncHII	SMOT +1.39 points	1.42%	0.03%
Brown-Forman CorpBF.B	SMOT +1.35 points	1.36%	<0.01%
Zimmer Biomet Holdings IncZBH	SMOT +1.33 points	1.38%	0.05%
Celanese CorpCE	SMOT +1.33 points	1.34%	0.01%
Devon Energy CorpDVN	SMOT +1.32 points	1.46%	0.14%
Acuity Brands IncAYI	SMOT +1.31 points	1.34%	0.03%
Dupont De Nemours IncDD	SMOT +1.30 points	1.35%	0.05%
TransunionTRU	SMOT +1.30 points	1.33%	0.03%
Lyondellbasell Industries NvLYB	SMOT +1.28 points	1.32%	0.04%
Omnicom Group IncOMC	SMOT +1.27 points	1.33%	0.06%
Kraft Heinz Co/TheKHC	SMOT +1.23 points	1.28%	0.05%
Standardaero IncSARO	SMOT +1.23 points	1.24%	0.01%
Eastman Chemical CoEMN	SMOT +1.21 points	1.23%	0.02%
Block IncXYZ	SMOT +1.20 points	1.31%	0.11%
Northrop Grumman CorpNOC	SMOT +1.20 points	1.38%	0.18%
Sba Communications CorpSBAC	SMOT +1.19 points	1.24%	0.05%
Hormel Foods CorpHRL	SMOT +1.18 points	1.20%	0.02%
L3harris Technologies IncLHX	SMOT +1.18 points	1.30%	0.12%
Align Technology IncALGN	SMOT +1.18 points	1.21%	0.03%
Cigna Group/TheCI	SMOT +1.17 points	1.37%	0.20%
Lithia Motors IncLAD	SMOT +1.17 points	1.19%	0.02%
Biomarin Pharmaceutical IncBMRN	SMOT +1.18 points	1.21%	0.03%
Cnh Industrial NvCNH	SMOT +1.16 points	1.19%	0.03%
Hershey Co/TheHSY	SMOT +1.15 points	1.21%	0.06%
Elevance Health IncELV	SMOT +1.13 points	1.36%	0.23%
Cooper Cos Inc/TheCOO	SMOT +1.11 points	1.14%	0.03%
Mondelez International IncMDLZ	SMOT +1.12 points	1.32%	0.20%
Autonation IncAN	SMOT +1.09 points	1.10%	0.01%
Tenet Healthcare CorpTHC	SMOT +0.99 points	1.05%	0.06%
Zebra Technologies CorpZBRA	SMOT +0.98 points	1.03%	0.05%
Repligen CorpRGEN	SMOT +0.92 points	0.95%	0.03%
Allegion PlcALLE	SMOT +0.92 points	0.96%	0.04%
Hasbro IncHAS	SMOT +0.90 points	0.93%	0.03%
Ionis Pharmaceuticals IncIONS	SMOT +0.89 points	0.89%	<0.01%
Albemarle CorpALB	SMOT +0.85 points	0.88%	0.03%
Bio-Techne CorpTECH	SMOT +0.84 points	0.87%	0.03%
Labcorp Holdings IncLH	SMOT +0.84 points	0.91%	0.07%
Iqvia Holdings IncIQV	SMOT +0.83 points	0.95%	0.12%
Ball CorpBALL	SMOT +0.74 points	0.78%	0.04%
International Flavors & Fragrances IncIFF	SMOT +0.73 points	0.79%	0.06%
Tradeweb Markets IncTW	SMOT +0.71 points	0.74%	0.03%
Entegris IncENTG	SMOT +0.70 points	0.76%	0.06%
Wyndham Hotels & Resorts IncWH	SMOT +0.71 points	0.71%	<0.01%
Biogen IncBIIB	SMOT +0.70 points	0.79%	0.09%
Dollar General CorpDG	SMOT +0.70 points	0.77%	0.07%
Fortune Brands Innovations IncFBIN	SMOT +0.70 points	0.71%	0.01%
Generac Holdings IncGNRC	SMOT +0.69 points	0.72%	0.03%
A O Smith CorpAOS	SMOT +0.68 points	0.70%	0.02%
Universal Health Services IncUHS	SMOT +0.67 points	0.69%	0.02%
Royalty Pharma PlcRPRX	SMOT +0.66 points	0.73%	0.07%
Agilent Technologies IncA	SMOT +0.66 points	0.79%	0.13%
Aptargroup IncATR	SMOT +0.66 points	0.68%	0.02%
Cf Industries Holdings IncCF	SMOT +0.65 points	0.70%	0.05%
Brunswick Corp/DeBC	SMOT +0.65 points	0.66%	0.01%
Resmed IncRMD	SMOT +0.64 points	0.73%	0.09%
Alliant Energy CorpLNT	SMOT +0.63 points	0.68%	0.04%
Edison InternationalEIX	SMOT +0.63 points	0.69%	0.06%
Kimberly-Clark CorpKMB	SMOT +0.63 points	0.69%	0.06%
Molina Healthcare IncMOH	SMOT +0.62 points	0.65%	0.03%
Msci IncMSCI	SMOT +0.61 points	0.71%	0.10%
Oshkosh CorpOSK	SMOT +0.61 points	0.63%	0.02%
Jack Henry & Associates IncJKHY	SMOT +0.61 points	0.64%	0.03%
Norwegian Cruise Line Holdings LtdNCLH	SMOT +0.60 points	0.62%	0.02%
Clorox Co/TheCLX	SMOT +0.60 points	0.63%	0.03%
Kenvue IncKVUE	SMOT +0.60 points	0.69%	0.09%
Carnival Corp LtdCCL	SMOT +0.59 points	0.68%	0.09%
Cognizant Technology Solutions CorpCTSH	SMOT +0.59 points	0.66%	0.07%
On Semiconductor CorpON	SMOT +0.59 points	0.67%	0.08%
Stifel Financial CorpSF	SMOT +0.59 points	0.62%	0.03%
Transdigm Group IncTDG	SMOT +0.59 points	0.67%	0.08%
Dte Energy CoDTE	SMOT +0.58 points	0.65%	0.07%
T Rowe Price Group IncTROW	SMOT +0.58 points	0.64%	0.06%
Rocket Cos IncRKT	SMOT +0.58 points	0.61%	0.03%
Zoom Video Communications IncZM	SMOT +0.57 points	0.64%	0.07%
Dow IncDOW	SMOT +0.57 points	0.62%	0.05%
Baxter International IncBAX	SMOT +0.57 points	0.60%	0.03%
Carmax IncKMX	SMOT +0.57 points	0.59%	0.02%
Carlyle Group Inc/TheCG	SMOT +0.56 points	0.59%	0.03%
Air Products And Chemicals IncAPD	SMOT +0.54 points	0.71%	0.17%
Constellation Brands IncSTZ	SMOT +0.53 points	0.58%	0.05%
Allison Transmission Holdings IncALSN	SMOT +0.53 points	0.55%	0.02%
General Mills IncGIS	SMOT +0.52 points	0.57%	0.05%
Raymond James Financial IncRJF	SMOT +0.53 points	0.60%	0.07%
Carrier Global CorpCARR	SMOT +0.51 points	0.61%	0.10%
American Electric Power Co IncAEP	SMOT +0.51 points	0.69%	0.18%
Gentex CorpGNTX	SMOT +0.51 points	0.52%	0.01%
Crown Castle IncCCI	SMOT +0.50 points	0.58%	0.08%
Watsco IncWSO	SMOT +0.49 points	0.52%	0.03%
Lpl Financial Holdings IncLPLA	SMOT +0.47 points	0.51%	0.04%
Deckers Outdoor CorpDECK	SMOT +0.45 points	0.48%	0.03%
Us BancorpUSB	SMOT +0.44 points	0.69%	0.25%
Corteva IncCTVA	SMOT +0.04 points	0.18%	0.14%

All 115 SMOT 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.

SMOT vs VONV Cost

Overpaying SMOT vs VONV

$8,522

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

SMOT 0.49%
$9,792
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

SMOT 0.49%
VONV 0.06%
Overpaying

Year by year

Year	SMOT	VONV	Overpaying
10	$883	$110	$773
20	$3,394	$432	$2,962
30	$9,792	$1,270	$8,522

Expense ratio

0.49%SMOT
0.06%VONV, cheaper

VONV0.06%SMOT0.49%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VONV 4th cheapest of 99 funds

SMOT 73rd cheapest of 99 funds

SMOT vs VONV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SMOT 1.23%; VONV 1.53%, better
Payout (12M): SMOT $0.50; VONV $1.74
Last payment: SMOT $0.50; VONV $0.42
Ex-dividend: SMOT Dec 22, 2025; VONV Sep 23, 2026
Paid on: SMOT Dec 26, 2025; VONV Sep 25, 2026
Frequency: SMOT Annual; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SMOTAnnual · 4 paymentsAll SMOT payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

SMOT vs VONV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: SMOT 16.1%VONV 12.1%, better
Return per unit of riskSharpe ratio, 3 years: SMOT 0.78VONV 1.43, better
Worst fallMax drawdown, 5 years: SMOT −23.4%since Oct 2022VONV −18.9%
Market sensitivityBeta, 5 years: SMOT 1.11VONV 0.85; Market = 1

SMOT and VONV in the news

All news⁠

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

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SMOT vs VONV

In short

Stated mandate

Why people hold it

Worth knowing

How SMOT and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in SMOT

Only in VONV

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

US multifactor funds ran 30 points apart

How SMOT and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in SMOT

Only in VONV

Weight gaps