IVSSvsFSMLETF Comparison
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Applied Finance IVS US SMID ETF (IVSS) and Franklin Small Cap Enhanced ETF (FSML) belong to the same industry segment: US Multi-Factor. IVSS's top 3 sector exposures are Finance, Technology and Healthcare. In contrast, FSML's top sector exposures are Finance, Healthcare and Technology. IVSS is more expensive with a Total Expense Ratio (TER) of 0.59%, versus 0.45% for FSML. IVSS is up 20.59% year-to-date (YTD) with +$20M in YTD flows. FSML performs worse with 19.27% YTD performance, and +$136M in YTD flows. Run a side-by-side ETF comparison of IVSS and FSML 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 FSML performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IVSS FSML | +5.52%+1.10% | -0.18%-1.90% | +20.59%+19.27% | n/an/a | n/an/a | n/an/a |
| Flows | IVSS FSML | +$2M+$7M | +$2M+$7M | +$20M+$136M | -- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IVSS FSML | +11.67%+14.83% | n/an/a | n/an/a | n/an/a |
| Max drawdown | IVSS FSML | -8.58%-9.19% | n/an/a | n/an/a | n/an/a |
| Max drawdown duration | IVSS FSML | 84d73d | n/an/a | n/an/a | n/an/a |
Trading data
IVSS | FSML | |
Last sale 10/29/2026 at 1:30 PM | $30.67 | $29.53 |
| Previous close 10/28/2026 | $30.28 | $29.37 |
| Consolidated volume 10/28/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/29/2026 at 1:30 PM
Live
Closed
IVSS | FSML | |
|---|---|---|
| Last price | $30.67 | $29.53 |
| 1D performance | +1.28% | +0.54% |
| AuM | $29.62 M | $152.85 M |
| E/R | 0.59% | 0.45% |
Characteristics
IVSS | FSML | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Applied Finance | Franklin Templeton |
| Benchmark | - | - |
| N° of holdings | 357 | 297 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 3, 2025 | December 9, 2025 |
| ESG | No | No |
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Exposure
Countries
IVSS
USA
90.68%
Other
9.32%
FSML
USA
93.67%
Other
6.33%
Sectors
IVSS
Finance
19.49%
Technology
17.02%
Healthcare
13.02%
Industrials
9.48%
Energy
8.83%
Other
32.15%
FSML
Finance
24.2%
Healthcare
21.54%
Technology
12.85%
Industrials
11.1%
Energy
7.39%
Other
22.92%
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Diversification
IVSS
Total weight of top 15 holdings out of 15
20.58%
FSML
Total weight of top 15 holdings out of 15
20.28%
Top 15 holdings
Data as of August 31, 2026
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%
FSML
10X Genomics, Inc.
1.88%
Jackson Financial, Inc.
1.55%
Oceaneering International, Inc.
1.44%
Core Natural Resources, Inc.
1.39%
Acadian Asset Management, Inc.
1.39%
GeneDx Holdings Corp.
1.39%
Korn Ferry
1.34%
Box, Inc.
1.30%
TG Therapeutics, Inc.
1.28%
Tutor Perini Corp.
1.28%
ACADIA Pharmaceuticals, Inc.
1.25%
Krystal Biotech, Inc.
1.24%
Xenon Pharmaceuticals, Inc.
1.22%
National Energy Services Reunited Corp.
1.19%
Valley National Bancorp
1.17%
Frequently asked questions about IVSS and FSML
How have the IVSS and FSML ETFs performed in 2026?
As of October 27, 2026, IVSS is up 20.59% year-to-date (YTD), while FSML has returned 19.27%. That puts IVSS better performer ahead so far this year.
Which ETF is attracting more investor money: IVSS or FSML?
Year-to-date, the IVSS ETF saw +$20M in flows, compared to +$136M for FSML.
Which ETF is bigger: IVSS or FSML?
As of October 27, 2026, IVSS holds $29.62 M in assets under management (AUM), while FSML manages $152.85 M.
What sectors do the IVSS and FSML ETFs invest in?
IVSS leans toward sectors like Finance, Technology and Healthcare. Meanwhile, FSML focuses on Finance, Healthcare and Technology.
What are the top holdings of the IVSS ETF and FSML ETF?
IVSS top holdings include Dave, Inc., InterDigital, Inc. and PJT Partners, Inc.. FSML holds in its top three: 10X Genomics, Inc., Jackson Financial, Inc. and Oceaneering International, Inc..
Which ETF is more diversified: IVSS or FSML?
IVSS holds 357 securities with 20.58% of its assets in the top 15. FSML has 298 securities and a top 15 weight of 20.28%.
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