ETF Evaluator:
Applied Finance IVS Intl SMID ETF ()
Follow This ETF
(as of Aug 24)
Best Performing in Foreign Small/Mid Blend Over the Last Year
| 26.1% | Avantis International Small Cp Eq ETF (AVDS) |
| 23.3% | Dimensional International Small Cap ETF (DFIS) |
| 22.2% | iShares Currency Hdgd MSCI EAFE SmCp ETF (HSCZ) |
| 20.5% | Foreign Small/Mid Blend () |
| 20.4% | iShares MSCI EAFE Small-Cap ETF (SCZ) |
Risk
Index
Risk
Index
ETF Details
Applied Finance IVS Intl SMID ETF Overview
Applied Finance IVS Intl SMID ETF (IVSX) is an actively managed International Equity Foreign Small/Mid Blend exchange-traded fund (ETF). Applied Finance launched the ETF in 2026.
The investment seeks long term capital appreciation.
Under normal circumstances, the fund will invest at least 80% of its net assets in equity securities of small to mid capitalization companies located in developed markets outside of North America, which generally include markets such as Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Norway, Singapore, Spain, Sweden, Switzerland, and the United Kingdom. The fund is non-diversified.
About Applied Finance IVS Intl SMID ETF (IVSX)
There are 4 members of the management team with an average tenure of 0.44 years: Paul Blinn (2026), Rafael Resendes (2026), Andrew Hicks (2026) and Qiao Duan (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
Applied Finance IVS Intl SMID ETF has 257 securities in its portfolio. The top 10 holdings constitute 15.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Applied Finance IVS Intl SMID ETF is part of the Equity global asset class and is within the International Equity ETF group. Applied Finance IVS Intl SMID ETF has 97.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.9% There is 97.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Applied Finance IVS Intl SMID ETF has 1.7% of the portfolio in cash.
Assets Under Management
The fund has $4 million in total assets, which is below the $3 billion average for the Foreign Small/Mid Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
IVSX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Applied Finance IVS Intl SMID ETF expense ratio is above average compared to funds in the Foreign Small/Mid Blend category. Applied Finance IVS Intl SMID ETF has an expense ratio of 0.75%, which is 93% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Applied Finance IVS Intl SMID ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 17% for the Foreign Small/Mid Blend category.
Recently, in the month of July 2026, Applied Finance IVS Intl SMID ETF returned 4.1%, which earned it a grade of A, as the Foreign Small/Mid Blend category had an average return of 1.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Applied Finance IVS Intl SMID ETF has a trailing yield of 0.00%, which is below the 2.98% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Applied Finance IVS Intl SMID ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
IVSX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| IVSX Return (NAV) | 4.1% | 3.7% | na | na | na | na |
| IVSX Return (Price) | 5.0% | 4.6% | na | na | na | na |
| NAV +/- Price Return | -0.894% | -0.885% | na | na | na | na |
| Foreign Small/Mid Blend Avg | 1.2% | 0.2% | 20.5% | 15.6% | 6.6% | 8.5% |
| IVSX Grade (NAV) | A | A | na | na | na | na |
| +/- Category (NAV) | 2.9% | 3.6% | na | na | na | na |
| IVSX Tax-Cost Ratio | na | na | na | na | na | na |
IVSX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| IVSX Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| IVSX Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Foreign Small/Mid Blend Avg | 8.7% | 33.8% | 3.8% | 13.9% | -18.4% | 12.5% | 10.3% | 23.5% | -17.6% | 30.2% | 4.1% |
| IVSX Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 5 Mil |
| Share Class Assets: | $ 5 Mil |
| Turnover: | na |
| Expense Ratio: | 0.75% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 0.4 years | |||
| Average Tenure: 0.4 years | |||
| Managers (Year): Blinn Paul (2026), Resendes Rafael (2026), Hicks Andrew (2026), Duan Qiao (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 257 |
| % in Top 10 Holdings: | 15.9% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 97.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.9% |
| Foreign Stock: | 97.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 1.7% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Applied Finance |
| Phone Number: | 833-356-0909 |
| Website: | |
| Inception Date: | February 19, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.75% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.39% |
