Value vs. Growth ETFs by the Numbers: Funds, Assets and Fees

By Adam Patti, Chief Executive Officer, VistaShares | Published November 13, 2026

Growth funds often get the attention, but in the ETF market value funds are more numerous and hold more money in every size group ETFIQ tracks. Growth funds also charge more at the median. The single largest fund, though, is a growth fund. This page compares value and growth ETFs across U.S. large, mid and small companies and international large companies, with dated figures on fund counts, assets, fees and flows.

Figure	Value ETFs	Growth ETFs
U.S. large-cap funds tracked by ETFIQ (Nov 12, 2026)	150	139
U.S. large-cap combined net assets (Nov 12, 2026)	$985.5 billion	$798.8 billion
U.S. large-cap median yearly fee, per prospectus (Nov 12, 2026)	0.35%	0.50%
Largest U.S. large-cap fund, net assets (Oct 31, 2026)	$195.9 billion	$221.0 billion
U.S. large-cap net flows, week to Nov 11, 2026	$2.2 billion in, 56 of 150 funds counted	$462 million out, 33 of 139 funds counted
U.S. mid-cap: funds, net assets, median fee (Nov 12, 2026)	111 funds, $310.9 billion, 0.49%	32 funds, $45.4 billion, 0.59%
U.S. small-cap: funds, net assets, median fee (Nov 12, 2026)	58 funds, $126.4 billion (56 reporting), 0.42%	22 funds, $40.3 billion, 0.59%
International large-cap: funds, net assets, median fee (Nov 12, 2026)	52 funds, $189.3 billion, 0.40%	22 funds, $22.9 billion, 0.55%

Sources: ETFIQ segment pages, data as of Nov 12, 2026, flows as of Nov 11, 2026: U.S. large-cap value, U.S. large-cap growth, U.S. mid-cap value, U.S. mid-cap growth, U.S. small-cap value, U.S. small-cap growth, international large-cap value and international large-cap growth. Flows count only funds with daily share data.

What makes a fund value or growth?

Value funds hold companies that look inexpensive relative to their earnings, assets or dividends. Growth funds hold companies whose sales and earnings are expected to grow faster than average, and investors usually pay higher prices relative to current earnings for them. Each fund’s index provider or manager sets its own rules for the split.

ETFIQ places each fund in a segment by size and style from its own filings and holdings, not from its name. Its value segments hold stocks that are cheaper or slower-growing than their peers. That can produce surprises. The largest fund in ETFIQ’s U.S. mid-cap value segment, for example, tracks an equal weight version of the S&P 500. Giving every company the same weight tilts the portfolio toward smaller and cheaper companies than the standard index. Our article on equal weight vs. market cap weight ETFs explains why.

How many funds are there, and how large?

Among U.S. large-cap funds, ETFIQ tracked 150 value ETFs holding $985.5 billion and 139 growth ETFs holding $798.8 billion as of November 12, 2026. The gap is far wider further down the size range. In U.S. mid-caps, value funds outnumbered growth funds 111 to 32 and held $310.9 billion against $45.4 billion. In U.S. small-caps, the count was 58 to 22, with $126.4 billion against $40.3 billion.

The single largest fund is a growth fund: the biggest U.S. large-cap growth ETF held $221.0 billion as of October 31, 2026, against $195.9 billion for the biggest large-cap value ETF. Outside the U.S., value leads again. International large-cap value funds held $189.3 billion across 52 funds, and international large-cap growth funds $22.9 billion across 22.

Part of the value lead reflects how ETFIQ sorts funds. Many dividend-focused funds hold mostly value stocks and land in value segments, and so do some equal weight and fundamentally weighted funds.

How do fees compare?

Growth ETFs had a higher median fee in every segment. In U.S. large-caps the median was 0.50% for growth and 0.35% for value. In mid-caps it was 0.59% against 0.49%, in small-caps 0.59% against 0.42%, and among international large-caps 0.55% against 0.40%.

A median counts every fund equally, so it is pulled up by small, specialized funds. The largest funds in both styles charge far less than the median, and most of the money sits in them. ICI put the asset-weighted average expense ratio for index equity ETFs at 0.14% in 2025.¹

Where has money been flowing?

In the week to November 11, 2026, U.S. large-cap value ETFs with daily data took in a net $2.2 billion across 56 funds, while large-cap growth ETFs had a net outflow of $462 million across 33 funds. Fewer than half the funds in each segment publish daily share data, and a single week can swing on a few large trades, so these figures show recent direction rather than a lasting trend.

How should investors use these numbers?

Style is a tilt, not a measure of quality: many investors hold both styles, and a broad index fund already holds both.

Check the overlap: a growth fund and a broad U.S. large-cap fund can share many of the same top holdings. Our guide to ETF portfolio overlap shows how to compare.

Compare the fee, not the median: the median is a market summary; the expense ratio in the prospectus is what an investor pays. Our guide on how to compare two ETFs lists what else to check. More basics articles are in the ETF Basics Guide.

Frequently asked questions

Are there more value ETFs or growth ETFs?

Value ETFs, in every size group ETFIQ tracks. Among U.S. large-cap funds it counted 150 value and 139 growth ETFs on November 12, 2026.

Which holds more money?

Value. U.S. large-cap value ETFs held $985.5 billion and large-cap growth ETFs $798.8 billion as of November 12, 2026. The gap is wider among mid-cap, small-cap and international funds.

Do growth ETFs cost more?

At the median, yes, in every segment. For U.S. large-caps the median was 0.50% for growth and 0.35% for value on November 12, 2026.

Why does the largest fund belong to growth if value holds more in total?

One very large growth index fund holds $221.0 billion, while value assets are spread across more funds, including many dividend-focused funds.

How does ETFIQ decide whether a fund is value or growth?

It places each fund by size and style based on its holdings, not its name, so some funds land in segments their names do not suggest.

Is a blend fund a mix of both?

Yes. Blend funds hold both value and growth companies. ETFIQ tracks them in separate blend segments, which hold more assets than either style alone.

Adam Patti, Chief Executive Officer of VistaShares, is also the founder of ETFIQ. ETFIQ does not accept payment from ETF issuers, and its figures are calculated from public filings and market data.

Cite this page: Adam Patti, "Value vs. Growth ETFs by the Numbers: Funds, Assets and Fees," VistaShares, updated November 13, 2026, https://www.vistashares.com/value-vs-growth-etfs-by-the-numbers/. Plain-text version.

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