THLV vs VONV

THLVDTHOR Equal Weight Low Volatility ETF

VONVAVanguard Russell 1000 Value ETF

In short

THLV Most low-volatility funds screen individual stocks. THLV works a level up: it holds U.S. equity ETFs in equal weight and rotates them by rule, tilting toward calmer corners of the market.

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

THLV The Fund seeks results corresponding to the THOR Equal Weight Low Volatility Index. It invests at least 80% of assets in index securities, which are U.S. equity ETFs selected through a rules-based sector rotation process.

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

• THLV A fund of funds by design. It owns U.S. equity ETFs rather than single names, so no one company can dominate the portfolio.
• Rules all the way down: sector rotation follows THOR's own low-volatility and momentum index, not a manager's gut call.
• Purely domestic, with at least 80% of assets in the index's U.S. equity ETFs. No currency layer to untangle.
• Risk behavior is where it stands up best inside its multifactor peer group, which is the point of a low-vol mandate.

• 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

• THLV Cost is the trade-off: 0.64% a year, well above what most funds in this multifactor group charge.
• Thinly traded. Spreads can run wider than at heavily traded peers, and limit orders matter more here.
• Launched in 2022 with a modest asset base, so the track record is shorter than most of its peer group's.

• 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 THLV profile⁠

Full VONV profile⁠