Flows ranking · U.S. small-cap value ETFs · money out

The U.S. small-cap value ETFs that lost the most

CALF lost the most over twelve months to May 2026: $1.8bn.

Coverage

Twelve-month list: 39 funds with SEC filings for every month to May 2026, 67.7% of the group’s net assets. 3 funds’ filings report flows for the whole fund, all share classes, so they are not ranked here: VBR, VIOV, VTWV

Rank change

Against the last edition of this list: the previous trading day for 1W and 1M, the previous month for 12M. "new" means not in the top 25 last time

How these lists are built

Measure

Net flow: money in less money out, in dollars, over the window, leaving any round trip aside

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12 months to May 2026, SEC filings

12 months · Jun 2025 to May 2026

From SEC filings · 17 funds · the last month every filer has reported

Filings run about 60 days behind, so this list ends at the latest month every fund in the group has filed, printed in the heading and the title. Rank change is against last month’s edition.

#	Fund	Name	Net flow	Share of assets	Rank change
1	CALF	Pacer US Small Cap Cash Cows ETF	−$1.8bn	·	same
2	IWN	iShares Russell 2000 Value ETF	−$914m	·	same
3	DFSV	US Small Cap Value Portfolio ETF Class Shares	−$750m	·	same
4	DON	WisdomTree U.S. MidCap Dividend Fund	−$172m	·	▲ 2
5	DES	WisdomTree U.S. SmallCap Dividend Fund	−$144m	·	▲ 2
6	XSVM	Invesco S&P SmallCap Value with Momentum ETF	−$137m	·	▲ 3
7	SLYV	State Street SPDR S & P 600 Small Cap Value ETF	−$109m	·	▼ 3
8	RWJ	Invesco S&P SmallCap 600 Revenue ETF	−$96.3m	·	same
9	OUSM	ALPS O'Shares U.S. Small-Cap Quality Dividend ETF	−$94.4m	·	▲ 3
10	XSLV	Invesco S&P SmallCap Low Volatility ETF	−$72.5m	·	same
11	SMDV	ProShares Russell 2000 Dividend Growers ETF	−$70.4m	·	same
12	CSB	VictoryShares US Small Cap High Div Volatility Wtd ETF	−$56.0m	·	▲ 1
13	FNK	First Trust Mid Cap Value AlphaDEX Fund	−$16.5m	·	▲ 2
14	EZM	WisdomTree U.S. MidCap Fund	−$15.1m	·	same
15	RZV	Invesco S&P SmallCap 600 Pure Value ETF	−$7.5m	·	▲ 1
16	JPSV	JPMorgan Active Small Cap Value ETF	−$1.8m	·	▲ 2
17	XSHD	Invesco S&P SmallCap High Dividend Low Volatility ETF	−$1.8m	·	new

SEC Form N-PORT, item B.6, monthly, every fund with a filing for every month of the window.CSV

Other flow rankings

U.S. small-cap value · inflows→All ETFs · outflows173 funds →Stocks · outflows75 funds →Every flows ranking143 pages →The 12 months list in the flows tool→

Where these figures came from

SEC Form N-PORT data sets: monthly sales and redemptions, item B.6↗SEC Form N-CEN data sets: each fund’s creation unit, item E.3.a↗

Cite this page

ETFIQ, The U.S. small-cap value ETFs that lost the most, data as of Oct 8, 2026. https://etfiq.com/flows/rankings/segment/us-small-value/outflows/

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ETFIQ is an independent publisher and makes no recommendations; a rank is a sort of one published figure, not an opinion.