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 Technology, Finance and Healthcare. 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 21.04% year-to-date (YTD) with +$37M in YTD flows. IVSS performs worse with 18.92% 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 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | AFSM IVSS | -0.12%+3.01% | +8.29%+7.61% | +21.04%+18.92% | +31.97%n/a | +57.49%n/a | +60.59%n/a |
| Flows | AFSM IVSS | +$14M+$757K | +$21M+$3M | +$37M+$19M | +$60M- | +$95M- | +$98M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | AFSM IVSS | +17.48%+12.44% | +17.97%n/a | +19.73%n/a | +21.09%n/a |
| Max drawdown | AFSM IVSS | -4.08%-3.51% | -9.36%n/a | -24.90%n/a | -28.44%n/a |
| Max drawdown duration | AFSM IVSS | 19d19d | 46dn/a | 303dn/a | 815dn/a |
Trading data
AFSM | IVSS | |
Last sale 7/27/2026 at 7:54 PM | $39.87 | $30.43 |
| Previous close 07/24/2026 | $39.68 | $30.16 |
| Consolidated volume 07/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 7/27/2026 at 7:54 PM
Live
Closed
AFSM | IVSS | |
|---|---|---|
| Last price | $39.87 | $30.43 |
| 1D performance | +0.47% | +0.91% |
| AuM | $118.94 M | $27.71 M |
| E/R | 0.75% | 0.59% |
Characteristics
AFSM | IVSS | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | First Trust | Applied Finance |
| Benchmark | - | - |
| N° of holdings | 331 | 361 |
| 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
90.5%
Other
9.5%
IVSS
USA
92.96%
Other
7.04%
Sectors
AFSM
Technology
20.19%
Finance
19.34%
Healthcare
18.63%
Industrials
10.53%
Consumer Non-Cycl.
7.31%
Other
24%
IVSS
Finance
18.87%
Technology
17.26%
Healthcare
14.15%
Industrials
12.54%
Energy
7.26%
Other
29.91%
Diversification
AFSM
Total weight of top 15 holdings out of 15
11.65%
IVSS
Total weight of top 15 holdings out of 15
22.94%
Top 15 holdings
Data as of June 30, 2026
AFSM
National HealthCare Corp.
0.94%
Blue Bird Corp.
0.94%
Penguin Solutions, Inc.
0.91%
Kulicke & Soffa Industries, Inc.
0.87%
Par Pacific Holdings, Inc.
0.80%
Ames National Corp.
0.78%
Matson, Inc.
0.77%
Sphere Entertainment Co.
0.74%
Liquidia Corp.
0.74%
TrustCo Bank Corp. NY
0.71%
Axcelis Technologies, Inc.
0.70%
Lincoln Educational Services Corp.
0.69%
Carpenter Technology Corp.
0.69%
Bloom Energy Corp.
0.69%
Bel Fuse, Inc.
0.68%
IVSS
Sterling Infrastructure, Inc.
2.87%
Sezzle, Inc.
2.09%
Dave, Inc.
1.87%
BrightSpring Health Services, Inc.
1.64%
Nextpower, Inc.
1.63%
HealthEquity, Inc.
1.50%
InterDigital, Inc.
1.50%
PJT Partners, Inc.
1.41%
Mercury General Corp.
1.31%
Lantheus Holdings, Inc.
1.25%
Otter Tail Corp.
1.23%
Amneal Pharmaceuticals, Inc.
1.18%
ACI Worldwide, Inc.
1.18%
Southwest Gas Holdings, Inc.
1.14%
Tanger, Inc.
1.13%
Frequently asked questions about AFSM and IVSS
How have the AFSM and IVSS ETFs performed in 2026?
As of July 24, 2026, AFSM is up 21.04% year-to-date (YTD), while IVSS has returned 18.92%. That puts AFSM better performer ahead so far this year.
Which ETF is attracting more investor money: AFSM or IVSS?
Year-to-date, the AFSM ETF saw +$37M in flows, compared to +$19M for IVSS.
Which ETF is bigger: AFSM or IVSS?
As of July 24, 2026, AFSM holds $118.94 M in assets under management (AUM), while IVSS manages $27.71 M.
What sectors do the AFSM and IVSS ETFs invest in?
AFSM leans toward sectors like Technology, Finance and Healthcare. Meanwhile, IVSS focuses on Finance, Technology and Healthcare.
What are the top holdings of the AFSM ETF and IVSS ETF?
AFSM top holdings include National HealthCare Corp., Blue Bird Corp. and Penguin Solutions, Inc.. IVSS holds in its top three: Sterling Infrastructure, Inc., Sezzle, Inc. and Dave, Inc..
Which ETF is more diversified: AFSM or IVSS?
AFSM holds 332 securities with 11.65% of its assets in the top 15. IVSS has 362 securities and a top 15 weight of 22.94%.
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