IVSS vs. GRNJ

Last updated Jun 5, 2026

IVSS (Applied Finance IVS US SMID ETF) and GRNJ (Fundstrat Granny Shots US Small- & Mid-Cap ETF) are both Mid Cap Blend Equities funds. Both are actively managed. A 0.62 correlation means they provide meaningful diversification when combined. IVSS charges 0.59%/yr vs 0.75%/yr for GRNJ.

Performance

IVSS vs. GRNJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Applied Finance IVS US SMID ETF (IVSS) and Fundstrat Granny Shots US Small- & Mid-Cap ETF (GRNJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVSS achieves a 13.28% return, which is significantly lower than GRNJ's 27.32% return.

IVSS

• 1D: 1.34%
• 1M: 1.22%
• YTD: 13.28%
• 6M: 13.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GRNJ

• 1D: 0.96%
• 1M: 8.18%
• YTD: 27.32%
• 6M: 22.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IVSS vs. GRNJ - Yearly Performance Comparison

	2026 (YTD)	2025
IVSS Applied Finance IVS US SMID ETF	13.28%	-0.02%
GRNJ Fundstrat Granny Shots US Small- & Mid-Cap ETF	27.32%	-3.55%

Correlation

The correlation between IVSS and GRNJ is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 5, 2025	0.62

Return for Risk

IVSS vs. GRNJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Applied Finance IVS US SMID ETF (IVSS) and Fundstrat Granny Shots US Small- & Mid-Cap ETF (GRNJ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IVSS	GRNJ	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.90	2.44	-0.54

Drawdowns

IVSS vs. GRNJ - Drawdown Comparison

The maximum IVSS drawdown since its inception was -8.31%, smaller than the maximum GRNJ drawdown of -17.32%. Use the drawdown chart below to compare losses from any high point for IVSS and GRNJ.

Drawdown Indicators

	IVSS	GRNJ	Difference
Max Drawdown Largest peak-to-trough decline	-8.31%	-17.32%	+9.01%
Current Drawdown Current decline from peak	0.00%	-0.21%	+0.21%
Average Drawdown Average peak-to-trough decline	-1.82%	-4.10%	+2.28%

Volatility

Volatility by Period

	IVSS	GRNJ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	15.24%	29.83%	-14.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.24%	29.83%	-14.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.24%	29.83%	-14.59%

IVSS vs. GRNJ - Expense Ratio Comparison

IVSS has a 0.59% expense ratio, which is lower than GRNJ's 0.75% expense ratio.

Dividends

IVSS vs. GRNJ - Dividend Comparison

IVSS's dividend yield for the trailing twelve months is around 0.06%, while GRNJ has not paid dividends to shareholders.

Position	TTM	2025
GRNJ Fundstrat Granny Shots US Small- & Mid-Cap ETF	0.00%	0.00%
IVSS Applied Finance IVS US SMID ETF	0.06%	0.07%

Frequently Asked Questions

Can I hold both IVSS and GRNJ in my portfolio?

IVSS and GRNJ have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IVSS or GRNJ?

On fees, IVSS is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IVSS or GRNJ?

IVSS is cheaper with a 0.59% expense ratio, compared with 0.75% for GRNJ.

Which ETF pays a higher dividend yield, IVSS or GRNJ?

IVSS has the higher dividend yield at 0.06%, compared with 0.00% for GRNJ.

What is the main difference between IVSS and GRNJ?

They also come from different issuers: Applied Finance and Fundstrat. Their fees differ too: 0.59% for IVSS and 0.75% for GRNJ.