IVSSvsAFSMETF Comparison
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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 Technology, Finance and Healthcare. IVSS is less expensive with a Total Expense Ratio (TER) of 0.59%, versus 0.75% for AFSM. IVSS is up 20.81% year-to-date (YTD) with +$19M in YTD flows. AFSM performs better with 21.89% YTD performance, and +$37M 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.
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IVSS vs AFSM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IVSS AFSM | +2.69%-1.84% | +8.31%+9.98% | +20.81%+21.89% | n/a+32.13% | n/a+56.89% | n/a+61.46% |
| Flows | IVSS AFSM | +$757K+$8M | +$3M+$21M | +$19M+$37M | -+$60M | -+$95M | -+$98M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IVSS AFSM | +12.54%+17.40% | n/a+17.97% | n/a+19.74% | n/a+21.08% |
| Max drawdown | IVSS AFSM | -3.51%-4.08% | n/a-9.36% | n/a-24.90% | n/a-28.44% |
| Max drawdown duration | IVSS AFSM | 19d19d | n/a46d | n/a303d | n/a815d |
Trading data
IVSS | AFSM | |
Last sale 7/28/2026 at 1:30 PM | $30.71 | $39.88 |
| Previous close 07/28/2026 | $30.46 | $39.86 |
| Consolidated volume 07/28/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 7/28/2026 at 1:30 PM
Live
Closed
IVSS | AFSM | |
|---|---|---|
| Last price | $30.71 | $39.88 |
| 1D performance | +0.82% | +0.06% |
| AuM | $28.15 M | $119.77 M |
| E/R | 0.59% | 0.75% |
Characteristics
IVSS | AFSM | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Applied Finance | First Trust |
| Benchmark | - | - |
| N° of holdings | 361 | 331 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 3, 2025 | December 3, 2019 |
| ESG | No | No |
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Exposure
Countries
IVSS
USA
92.96%
Other
7.04%
AFSM
USA
90.5%
Other
9.5%
Sectors
IVSS
Finance
18.87%
Technology
17.26%
Healthcare
14.15%
Industrials
12.54%
Energy
7.26%
Other
29.91%
AFSM
Technology
20.19%
Finance
19.34%
Healthcare
18.63%
Industrials
10.53%
Consumer Non-Cycl.
7.31%
Other
24%
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Diversification
IVSS
Total weight of top 15 holdings out of 15
22.94%
AFSM
Total weight of top 15 holdings out of 15
11.65%
Top 15 holdings
Data as of June 30, 2026
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%
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%
Frequently asked questions about IVSS and AFSM
How have the IVSS and AFSM ETFs performed in 2026?
As of July 27, 2026, IVSS is up 20.81% year-to-date (YTD), while AFSM has returned 21.89%. 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 +$37M for AFSM.
Which ETF is bigger: IVSS or AFSM?
As of July 27, 2026, IVSS holds $28.15 M in assets under management (AUM), while AFSM manages $119.77 M.
What sectors do the IVSS and AFSM ETFs invest in?
IVSS leans toward sectors like Finance, Technology and Healthcare. Meanwhile, AFSM focuses on Technology, Finance and Healthcare.
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., Blue Bird Corp. and Penguin Solutions, Inc..
Which ETF is more diversified: IVSS or AFSM?
IVSS holds 362 securities with 22.94% of its assets in the top 15. AFSM has 332 securities and a top 15 weight of 11.65%.
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