VFVA ETF: A Comprehensive Look at Returns, Expense Ratio, Holdings, and Alternative ETFs
An active value-factor ETF that selects undervalued, high-quality value stocks across the entire market-cap spectrum using Vanguard's quantitative model.
SubscribeWhat is this ETF?
It targets constituents within the Russell 3000 Index, identifying stocks whose prices have formed below their true intrinsic value. Rather than simply picking cheap names, it employs a strategy that selects high-quality value stocks backed by sound fundamentals.
It is well suited for investors seeking diversified exposure to U.S. value stocks and aiming for long-term excess returns versus the broader market.
It is an actively managed ETF launched by Vanguard in 2018.
How does it invest?
| Item | Details |
|---|---|
| Tracking Target | Value factor (quantitative model) |
| Management Style | Active (smart beta) |
| Rebalancing Frequency | As needed |
| Dividend Schedule | Quarterly |
| Total Expense Ratio | 0.13% |
Scores are derived from a comprehensive analysis of price-to-book ratio (P/B), forward price-to-earnings ratio (Forward P/E), cash flows, and other metrics. The portfolio holds more than roughly 600 to 800 names, lowering single-stock risk and maximizing the return profile unique to the value factor.
- Pursues an active strategy while maintaining Vanguard's low-fee structure
- Broadly encompasses not only large caps but also small- and mid-cap value stocks
Size and Cost
Assets under management (AUM) stand at $986.1M, with a total expense ratio of 0.13% per year.
Although actively managed, it applies Vanguard's signature low-cost discipline, maintaining a fee level that is notably lower than that of typical active funds — a defining feature.
Performance and Flows
1-Year Price Performance
Dividend & Yield
52-Week Price RangeIt has shown strong return resilience during market regimes favoring value over growth, and its defensive characteristics stand out during rate-hiking cycles and earnings-driven markets.
As appetite for smart beta and factor investing grows, assets under management have steadily expanded, and it is increasingly chosen as a key investment alternative during rotation phases back into value.
Strengths and Weaknesses
While it delivers a portfolio of high-quality value stocks filtered by multiple indicators, it carries risks tied to small- and mid-cap exposure and potential underperformance during growth-led market rallies.
💪 Core Strengths
⚠️ Points of Caution
Alternative ETFs and Related Products
AVUV and VLUE shown in the table are comparable products that focus on small-cap value and large-cap value factors, respectively. By contrast, VFVA distinguishes itself by spanning the full market-cap spectrum and applying Vanguard's active model. Investors seeking a more sophisticated active value approach may consider JAVA, while those wanting to incorporate ESG elements can compare it against NULV and similar options.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 AVUV | Avantis U.S. Small Cap Value ETF | $122.17 | -0.3% | $32.4B | 0.25% | 1.24% | +24.0% |
 VLUE | iShares MSCI USA Value Factor ETF | $186.89 | -0.1% | $9.1B | 0.15% | 1.65% | +42.1% |
 JAVA | JPMorgan Active Value ETF | $84.50 | +0.2% | $7.6B | 0.44% | 1.12% | +20.6% |
 NULV | Nuveen ESG Large-Cap Value ETF | $54.83 | -0.0% | $2.6B | 0.26% | 1.34% | +22.5% |
 FVAL | Fidelity Value Factor ETF | $81.28 | -0.3% | $1.4B | 0.15% | 1.51% | +14.8% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| VZ | Verizon Communications Inc | 0.01% | $46.31 | +0.5% | $191.9B | 11.8 | 6.1% |
| T | AT&T Inc | 0.01% | $21.94 | +0.6% | $147.8B | 11.8 | 5.06% |
| CMCSA | Comcast Corp | 0.01% | $24.75 | +1.0% | $87.9B | 7.8 | 5.37% |
| BMY | Bristol-Myers Squibb Co | 0.01% | $62.80 | +1.1% | $128.4B | 13.9 | 4.04% |
| EOG | EOG Resources Inc | 0.02% | $151.51 | +2.1% | $78.6B | 9.8 | 2.71% |
| CRM | Salesforce Inc | 0.01% | $213.48 | -0.7% | $175.7B | 19.5 | 0.52% |
| CVS | CVS Health Corp | 0.01% | $89.01 | +4.4% | $113.9B | 10.3 | 3.07% |
| MO | Altria Group Inc | 0.01% | $76.34 | +0.7% | $127.0B | 15.8 | 5.67% |
| CI | Cigna Group | 0.01% | $303.13 | +2.5% | $79.9B | 13.4 | 2.05% |
Investor Checklist
Before committing to VFVA, carefully review the following key operating characteristics and value-investment philosophy to ensure alignment with your asset-allocation strategy.
| Checklist Item | What to Verify | Current Status |
|---|---|---|
| 📊 Value-Stock Allocation | Confirm the value-stock weighting is sufficient to complement a growth-tilted portfolio | Important |
| 🏢 Inclusion of Small- and Mid-Caps | Assess whether you can tolerate volatility from small- and mid-cap names beyond large caps | Needs Review |
| 💵 Performance vs. Fees | Whether the model delivers excess returns while maintaining low fees | Satisfactory |
Value-factor performance can diverge sharply across economic cycles, and investors should recognize the risk that a quantitative model's judgment may not immediately reflect abrupt shifts in market dynamics.
In conclusion, for investors seeking low-cost exposure to U.S. value stocks across the entire market with the goal of long-term market outperformance, this product is a recommended core portfolio building block.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
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