IVSSvsAFSMETF Comparison
VS
Applied Finance IVS US SMID ETF (IVSS) and First Trust Active Factor Small Cap ETF (AFSM) belong to the same industry segment: US Multi-Factor. IVSS's top 3 sector exposures are Finance, Technology and Healthcare. In contrast, AFSM's top sector exposures are Finance, Healthcare and Technology. IVSS is less expensive with a Total Expense Ratio (TER) of 0.59%, versus 0.75% for AFSM. IVSS is up 17.67% year-to-date (YTD) with +$19M in YTD flows. AFSM performs better with 21.27% YTD performance, and +$45M in YTD flows. Run a side-by-side ETF comparison of IVSS and AFSM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
IVSS vs AFSM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/10/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IVSS AFSM | -3.13%-2.20% | +4.43%+5.37% | +17.67%+21.27% | n/a+22.99% | n/a+65.19% | n/a+58.01% |
| Flows | IVSS AFSM | -+$8M | +$757K+$22M | +$19M+$45M | -+$65M | -+$104M | -+$105M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IVSS AFSM | +11.92%+15.08% | n/a+17.64% | n/a+19.70% | n/a+21.01% |
| Max drawdown | IVSS AFSM | -5.02%-4.36% | n/a-9.36% | n/a-24.90% | n/a-28.44% |
| Max drawdown duration | IVSS AFSM | 37d25d | n/a46d | n/a303d | n/a815d |
Trading data
IVSS | AFSM | |
Last sale 9/11/2026 at 1:30 PM | $29.77 | $40.02 |
| Previous close 09/10/2026 | $29.66 | $39.68 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Advertisement
Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
IVSS | AFSM | |
|---|---|---|
| Last price | $29.77 | $40.02 |
| 1D performance | +0.38% | +0.86% |
| AuM | $27.42 M | $127.11 M |
| E/R | 0.59% | 0.75% |
Characteristics
IVSS | AFSM | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Applied Finance | First Trust |
| Benchmark | - | - |
| N° of holdings | 357 | 329 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 3, 2025 | December 3, 2019 |
| ESG | No | No |
Advertisement
Exposure
Countries
IVSS
USA
90.5%
Other
9.5%
AFSM
USA
89.64%
Other
10.36%
Sectors
IVSS
Finance
19.34%
Technology
17.2%
Healthcare
13.15%
Industrials
10.21%
Energy
8.02%
Other
32.08%
AFSM
Finance
20.86%
Healthcare
20.23%
Technology
16.99%
Industrials
9.45%
Other
32.47%
Advertisement
Diversification
IVSS
Total weight of top 15 holdings out of 15
21.53%
AFSM
Total weight of top 15 holdings out of 15
11.78%
Top 15 holdings
Data as of July 31, 2026
IVSS
Sterling Infrastructure, Inc.
2.01%
Sezzle, Inc.
1.86%
Dave, Inc.
1.84%
HealthEquity, Inc.
1.65%
InterDigital, Inc.
1.59%
PJT Partners, Inc.
1.55%
BrightSpring Health Services, Inc.
1.39%
ACI Worldwide, Inc.
1.32%
Mercury General Corp.
1.30%
Amneal Pharmaceuticals, Inc.
1.23%
Nextpower, Inc.
1.21%
Otter Tail Corp.
1.19%
Tanger, Inc.
1.15%
Southwest Gas Holdings, Inc.
1.13%
The Ensign Group, Inc.
1.11%
AFSM
National HealthCare Corp.
1.06%
Eton Pharmaceuticals, Inc.
1.01%
Par Pacific Holdings, Inc.
0.99%
Ames National Corp.
0.83%
Matson, Inc.
0.83%
Blue Bird Corp.
0.75%
Teekay Tankers Ltd.
0.74%
Rigel Pharmaceuticals, Inc.
0.74%
TrustCo Bank Corp. NY
0.73%
Interface, Inc.
0.72%
Sphere Entertainment Co.
0.69%
Kiniksa Pharmaceuticals International Plc
0.69%
Penguin Solutions, Inc.
0.68%
Liquidia Corp.
0.67%
Heritage Insurance Holdings, Inc.
0.65%
Frequently asked questions about IVSS and AFSM
How have the IVSS and AFSM ETFs performed in 2026?
As of September 10, 2026, IVSS is up 17.67% year-to-date (YTD), while AFSM has returned 21.27%. That puts AFSM better performer ahead so far this year.
Which ETF is attracting more investor money: IVSS or AFSM?
Year-to-date, the IVSS ETF saw +$19M in flows, compared to +$45M for AFSM.
Which ETF is bigger: IVSS or AFSM?
As of September 10, 2026, IVSS holds $27.42 M in assets under management (AUM), while AFSM manages $127.11 M.
What sectors do the IVSS and AFSM ETFs invest in?
IVSS leans toward sectors like Finance, Technology and Healthcare. Meanwhile, AFSM focuses on Finance, Healthcare and Technology.
What are the top holdings of the IVSS ETF and AFSM ETF?
IVSS top holdings include Sterling Infrastructure, Inc., Sezzle, Inc. and Dave, Inc.. AFSM holds in its top three: National HealthCare Corp., Eton Pharmaceuticals, Inc. and Par Pacific Holdings, Inc..
Which ETF is more diversified: IVSS or AFSM?
IVSS holds 357 securities with 21.53% of its assets in the top 15. AFSM has 330 securities and a top 15 weight of 11.78%.
Advertisement
Advertisement
