At a glance
KMID charges 0.8% a year, above the 0.25% average of the 2 funds most like it (the most expensive of 3). It has $45.6M in assets, the 3rd largest of that group; it paid 0.08% of its price in distributions over the past 12 months, semiannual. Over the past year it returned −2.1% with distributions reinvested (S&P 500: +11.5%), the weakest of those 3 funds. Its ten largest positions make up 49.3% of the fund, out of 26 in all.
The short version
Virtus KAR Mid-Cap ETF (KMID) is an actively managed fund. It holds a concentrated group of about 25 to 35 mid-sized U.S. companies, picked by sub-adviser Kayne Anderson Rudnick for strong balance sheets and lasting competitive advantages. It aims to carry less market risk than the Russell Midcap Index. Its 0.80% expense ratio is well above the 0.25% average for similar funds, and it held just 26 stocks as of July 31, 2026.
Price history
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KMID -2.1% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| KMID price data to Oct 27, 2026 | -0.3% | -2.1% | — | — | — | -1.5% |
- Over the year to Oct 27, 2026, KMID returned -2.1%, 3rd of 3 among similar funds.
- Its worst full calendar year was 2025 (+0.3%); its best was 2025 (+0.3%).
- The deepest fall in its price history was 18.9% (Nov 29, 2024 to Apr 8, 2025), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -0.3% |
| 2025 | +0.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.0100 | |
| 2025 | $0.0100 |
What's inside
As of Jul 31, 2026, the fund held 26 securities; the ten largest made up 49.32% of assets.
| Holding | Weight | |
|---|---|---|
| AMETEK INC | 6.22% | |
| TELEDYNE TECHNOLOGIES INC | 5.77% | |
| MONOLITHIC POWER SYSTEMS INC | 5.60% | |
| WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP | 5.40% | |
| ROSS STORES INC | 5.11% | |
| WEST PHARMACEUTICAL SERVICES INC | 4.91% | |
| VERISK ANALYTICS INC | 4.28% | |
| ALLEGION PLC | 4.10% | |
| HEICO CORP | 4.09% | |
| OLD DOMINION FREIGHT LINE INC | 3.84% | |
| MSCI INC | 3.47% | |
| JACK HENRY & ASSOCIATES INC | 3.46% | |
| ALIGN TECHNOLOGY INC | 3.44% | |
| LPL FINANCIAL HOLDINGS INC | 3.18% | |
| COOPER COMPANIES INC (THE) | 2.96% |
By country
United States 89.28%Ireland 6.42%By asset type
Stocks 95.7%By sector
Sectors of the companies held, for the 51.9% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $2.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -2.73%, +1.30%, -0.46%.
How it works
KMID does not track an index. Its sub-adviser, Kayne Anderson Rudnick Investment Management (KAR), picks the stocks for issuer Virtus. KAR looks for mid-sized companies it believes are undervalued relative to their future growth. It favors firms with a lasting competitive edge, strong management and low financial risk. That means solid balance sheets, little debt, and businesses that don't need heavy spending on plants and equipment. The goal is long-term growth with less market risk than the Russell Midcap Index, a benchmark of mid-sized U.S. companies.
Under normal conditions, at least 80% of net assets go into mid-sized companies. KAR defines these as companies worth more than about $10 billion, up to the largest company in the Russell Midcap Index ($128.0 billion as of September 30, 2025). The fund invests mainly in U.S. companies. It may also buy American depositary receipts (ADRs), which are U.S.-traded shares of foreign companies.
The fund is non-diversified, meaning it can put more money into a single company than a diversified fund can. It can also hold more than 15% of its assets in one sector. As of July 31, 2025, it was focused on industrials and information technology. As of July 31, 2026, it held 26 stocks, and the top ten made up 49.3% of assets. The largest were AMETEK (6.2%), Teledyne Technologies (5.8%) and Monolithic Power Systems (5.6%). Portfolio turnover was 10%, which means KAR trades little.
What it really costs
- KMID charges 0.8% a year, versus an average of 0.25% for the similar funds below (3rd of 3, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $82 in the first year and $990 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| KMID | $82 | $255 | $444 | $990 |
In a retirement portfolio
It is a concentrated, actively managed, non-diversified fund of about 26 mid-sized stocks with a high fee and a short record, so it fits better as a small addition to a portfolio than as its foundation.
KMID could add a small, quality-focused slice of mid-sized companies next to a broad core fund. Its short history limits what it can show. It launched on October 15, 2024, so it was not around for the 2008, 2020 or 2022 market drops. Its deepest decline was 18.9%, from November 29, 2024 to April 8, 2025, and it had not climbed back to that peak as of October 27, 2026. Its only full calendar year, 2025, returned 0.29%. Anyone who had to sell shares during that stretch would have taken a loss.
Income is very small: the trailing yield was 0.08% as of October 27, 2026, paid twice a year. Under the SEC's standard example, the 0.80% expense ratio comes to about $82 on $10,000 in year one and $990 over ten years. Past results don't predict future ones, and a retirement plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a hand-picked mid-cap portfolio of about 26 financially strong companies, such as AMETEK, Teledyne and Ross Stores.
- Long-term holders who like a manager that trades little; portfolio turnover was 10%, according to the prospectus filed November 25, 2025.
- Investors who want mid-cap stocks with milder market swings; its one-year beta, a measure of market sensitivity, was 0.71 as of October 27, 2026.
Look elsewhere if
- Cost-focused investors: the 0.80% expense ratio compares with 0.07% for Vanguard Mid-Cap Growth ETF (VOT) and a 0.25% average for similar funds.
- Income seekers: the trailing yield was just 0.08% as of October 27, 2026, and it pays only twice a year.
- Investors who want a long track record or broad diversification: it launched in October 2024, holds 26 stocks, and nearly half its assets sit in ten.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
Is KMID an index fund?
No. KMID is an actively managed ETF, so it doesn't try to match any index. Its sub-adviser, Kayne Anderson Rudnick, picks about 25 to 35 mid-sized companies. It looks for firms with strong balance sheets, low debt, good management and a lasting competitive edge. The fund aims for less market risk than the Russell Midcap Index, but its results depend on KAR's stock picks, and those picks may not work out.
What is KMID's expense ratio?
KMID's expense ratio is 0.80%, according to its prospectus filed November 25, 2025. That is well above the 0.25% average for similar funds and the highest among the funds it was compared with. Under the SEC's standard example ($10,000 invested, 5% annual return), total costs come to about $82 after one year, $255 after three years, $444 after five years and $990 after ten years.
KMID vs VOT: what's the difference?
KMID is a concentrated, actively managed portfolio of 26 stocks. Vanguard Mid-Cap Growth ETF (VOT) is much cheaper at 0.07% and far larger, with about $34.8 billion in net assets as of June 30, 2026. KMID had about $45.6 million as of July 31, 2026. The two funds share only about 9% of their holdings. Over one year, VOT returned -0.4% as of October 30, 2026, compared with -2.1% for KMID as of October 27, 2026.
Does KMID pay dividends?
Yes, but very little. KMID pays twice a year. Over the trailing twelve months it paid about $0.02 per share, a yield of 0.08% as of October 27, 2026. That fits its goal of long-term growth, since many of the companies it favors pay small dividends or none. Investors who rely on portfolio income would get almost nothing from this fund.
What stocks are in KMID?
As of July 31, 2026, KMID held 26 stocks, and the top ten made up about 49% of assets. The largest were AMETEK (6.2%), Teledyne Technologies (5.8%), Monolithic Power Systems (5.6%), Westinghouse Air Brake Technologies (5.4%) and Ross Stores (5.1%). Others included West Pharmaceutical Services, Verisk Analytics, Allegion, HEICO and Old Dominion Freight Line. About 89% was in U.S. companies, and about 6% was in Ireland-based Allegion.