AFSMvsIVSSETF Comparison
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First Trust Active Factor Small Cap ETF (AFSM) and Applied Finance IVS US SMID ETF (IVSS) belong to the same industry segment: US Multi-Factor. AFSM's top 3 sector exposures are Finance, Healthcare and Technology. In contrast, IVSS's top sector exposures are Finance, Technology and Healthcare. AFSM is more expensive with a Total Expense Ratio (TER) of 0.75%, versus 0.59% for IVSS. AFSM is up 20.73% year-to-date (YTD) with +$51M in YTD flows. IVSS performs better with 20.91% YTD performance, and +$19M in YTD flows. Run a side-by-side ETF comparison of AFSM and IVSS below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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AFSM vs IVSS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | AFSM IVSS | +0.24%+3.87% | -0.55%+0.84% | +20.73%+20.91% | +22.20%n/a | +78.58%n/a | +50.72%n/a |
| Flows | AFSM IVSS | +$4M+$747K | +$16M+$747K | +$51M+$19M | +$71M- | +$110M- | +$111M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | AFSM IVSS | +12.94%+11.97% | +17.05%n/a | +19.50%n/a | +20.94%n/a |
| Max drawdown | AFSM IVSS | -5.90%-8.58% | -9.36%n/a | -24.90%n/a | -28.44%n/a |
| Max drawdown duration | AFSM IVSS | 68d79d | 46dn/a | 303dn/a | 815dn/a |
Trading data
AFSM | IVSS | |
Last sale 10/26/2026 at 1:30 PM | $39.67 | $30.45 |
| Previous close 10/23/2026 | $39.52 | $30.38 |
| Consolidated volume 10/23/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/26/2026 at 1:30 PM
Live
Closed
AFSM | IVSS | |
|---|---|---|
| Last price | $39.67 | $30.45 |
| 1D performance | +0.38% | +0.21% |
| AuM | $132.41 M | $28.94 M |
| E/R | 0.75% | 0.59% |
Characteristics
AFSM | IVSS | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | First Trust | Applied Finance |
| Benchmark | - | - |
| N° of holdings | 316 | 357 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 3, 2019 | December 3, 2025 |
| ESG | No | No |
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Exposure
Countries
AFSM
USA
89.81%
Other
10.19%
IVSS
USA
90.68%
Other
9.32%
Sectors
AFSM
Finance
21.66%
Healthcare
20.86%
Technology
16.52%
Industrials
8.35%
Energy
8.13%
Other
24.48%
IVSS
Finance
19.49%
Technology
17.02%
Healthcare
13.02%
Industrials
9.48%
Energy
8.83%
Other
32.15%
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Diversification
AFSM
Total weight of top 15 holdings out of 15
11.89%
IVSS
Total weight of top 15 holdings out of 15
20.58%
Top 15 holdings
Data as of August 31, 2026
AFSM
Par Pacific Holdings, Inc.
1.21%
Eton Pharmaceuticals, Inc.
0.96%
National HealthCare Corp.
0.93%
Matson, Inc.
0.86%
Abercrombie & Fitch Co.
0.81%
TrustCo Bank Corp. NY
0.76%
Protagonist Therapeutics, Inc.
0.75%
Kiniksa Pharmaceuticals International Plc
0.75%
Teekay Tankers Ltd.
0.73%
Seneca Foods Corp.
0.72%
Heritage Insurance Holdings, Inc.
0.71%
Interface, Inc.
0.69%
Ames National Corp.
0.68%
Halozyme Therapeutics, Inc.
0.67%
Krystal Biotech, Inc.
0.66%
IVSS
Dave, Inc.
1.78%
InterDigital, Inc.
1.75%
PJT Partners, Inc.
1.67%
HealthEquity, Inc.
1.59%
Sterling Infrastructure, Inc.
1.59%
Sezzle, Inc.
1.46%
BrightSpring Health Services, Inc.
1.36%
Mercury General Corp.
1.24%
ACI Worldwide, Inc.
1.24%
Otter Tail Corp.
1.22%
Amneal Pharmaceuticals, Inc.
1.18%
Coeur Mining, Inc.
1.13%
Lantheus Holdings, Inc.
1.13%
Southwest Gas Holdings, Inc.
1.12%
Qualys, Inc.
1.12%
Frequently asked questions about AFSM and IVSS
How have the AFSM and IVSS ETFs performed in 2026?
As of October 23, 2026, AFSM is up 20.73% year-to-date (YTD), while IVSS has returned 20.91%. That puts IVSS better performer ahead so far this year.
Which ETF is attracting more investor money: AFSM or IVSS?
Year-to-date, the AFSM ETF saw +$51M in flows, compared to +$19M for IVSS.
Which ETF is bigger: AFSM or IVSS?
As of October 23, 2026, AFSM holds $132.41 M in assets under management (AUM), while IVSS manages $28.94 M.
What sectors do the AFSM and IVSS ETFs invest in?
AFSM leans toward sectors like Finance, Healthcare and Technology. Meanwhile, IVSS focuses on Finance, Technology and Healthcare.
What are the top holdings of the AFSM ETF and IVSS ETF?
AFSM top holdings include Par Pacific Holdings, Inc., Eton Pharmaceuticals, Inc. and National HealthCare Corp.. IVSS holds in its top three: Dave, Inc., InterDigital, Inc. and PJT Partners, Inc..
Which ETF is more diversified: AFSM or IVSS?
AFSM holds 317 securities with 11.89% of its assets in the top 15. IVSS has 357 securities and a top 15 weight of 20.58%.
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