At a glance
SCDV charges 0.7% a year, above the 0.43% average of the 2 funds most like it (the most expensive of 3). It has $153.6M in assets, the 3rd largest of that group; it paid 0.16% of its price in distributions over the past 12 months, monthly. Its ten largest positions make up 52.4% of the fund, out of 36 in all.
The short version
Bahl & Gaynor Small Cap Dividend ETF (SCDV) is an actively managed fund. Its managers pick about three dozen small US companies that pay dividends, and it does not track an index. It is concentrated: its 10 largest holdings made up about 52% of assets as of June 30, 2026. At 0.70% a year, it costs more than similar small-cap dividend ETFs such as OUSM (0.48%) and DGRS (0.38%).
Price history
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SCDV — 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 | |
|---|---|---|---|---|---|---|
| SCDV official prospectus, to Dec 31, 2025 | — | -3.75% | — | — | — | — |
| SCDV price data to Oct 27, 2026 | -3.0% | — | — | — | — | — |
- The deepest fall in its price history was 10.8% (Aug 14, 2026 to Oct 23, 2026), not yet recovered.
| 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
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Jun 30, 2026, the fund held 36 securities; the ten largest made up 52.42% of assets.
| Holding | Weight | |
|---|---|---|
| Ensign Group Inc | 7.38% | |
| Curtiss-Wright Corp | 6.38% | |
| Enpro Inc | 5.93% | |
| Federal Signal Corp | 5.24% | |
| Silicon Motion Technology Corp | 4.96% | |
| Chemed Corp | 4.76% | |
| American Healthcare REIT Inc | 4.61% | |
| Littelfuse Inc | 4.47% | |
| Gildan Activewear Inc | 4.40% | |
| Victory Capital Holdings Inc | 4.29% | |
| Evercore Inc | 3.76% | |
| Texas Roadhouse Inc | 3.25% | |
| BWX Technologies Inc | 3.05% | |
| Balchem Corp | 2.71% | |
| Chesapeake Utilities Corp | 2.68% |
By country
United States 90.67%Taiwan 4.96%Canada 4.4%By asset type
Stocks 99.91%Bonds and notes 0.12%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $3.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +6.63%, -0.18%, +4.78%.
How it works
SCDV does not follow an index. Its adviser, Bahl & Gaynor, Inc., chooses each stock. Normally at least 80% of net assets go to small companies and dividend payers, meaning stocks that paid a dividend in the prior 12 months. A company counts as small if, when the fund buys it, its market value falls within the range of the companies in the Russell 2000 Index over the prior 12 months. The fund may keep companies that later grow past that range. It can also hold REITs (real estate investment trusts) and ADRs, which are US-listed shares of foreign companies.
The managers study each company on its own merits (a "bottom-up" approach). They look at its record of earnings and dividend growth, its balance sheet, its cash flow and its competitive position. Position sizes reflect their view of each company's finances, its valuation and the economy, not its market size. They generally sell when a dividend is cut too far, when the business or its management weakens, when a holding grows too large, or when a better idea comes along. Portfolio turnover was 24%.
The fund is "non-diversified," so it can put more money into fewer companies. As of June 30, 2026, it held 36 stocks. The largest were Ensign Group (7.4%), Curtiss-Wright (6.4%) and Enpro (5.9%). It uses no leverage, options or derivatives.
What it really costs
- SCDV charges 0.7% a year, versus an average of 0.43% for the similar funds below (3rd of 3, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $72 in the first year and $871 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| SCDV | $72 | $224 | $390 | $871 |
In a retirement portfolio
It is a concentrated, actively managed small-cap fund with a short record and a higher fee, so it fits better as a small add-on than as a foundation.
SCDV launched December 11, 2024, so it has no record through the 2008, 2020 or 2022 downturns. In 2025, its only full calendar year, it returned 3.15%. Its weakest quarter dropped 8.76%. From August 14 to October 23, 2026, it fell 10.8% and had not recovered as of October 27, 2026. Small-company stocks can swing more than large ones. That is a risk for anyone who may need to sell shares in a bad year. The fund pays monthly, but its trailing yield was only 0.16% as of October 27, 2026, and that figure covers a short price history. Its 0.70% yearly fee adds up to about $871 over 10 years on $10,000 in the SEC's standard example. Past results don't predict the future, and a 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 group of about 36 small dividend payers instead of a broad small-cap index fund.
- People seeking small-cap exposure tilted toward industrials and health care, through names such as Ensign Group, Curtiss-Wright and Enpro.
- Patient holders who care more about dividend growth and business quality than current yield, and who accept a record dating only to December 2024.
Look elsewhere if
- Cost-focused investors: the 0.70% expense ratio is above similar funds OUSM (0.48%) and DGRS (0.38%).
- Those who need meaningful income now: the trailing yield was 0.16% as of October 27, 2026, measured over a short history.
- Investors who want a track record through past bear markets, or who would struggle with drops like the 10.8% fall in August–October 2026.
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
What stocks does SCDV hold?
As of June 30, 2026, SCDV held 36 stocks, mostly small US companies that pay dividends. The largest were Ensign Group (7.4%), Curtiss-Wright (6.4%), Enpro (5.9%), Federal Signal (5.2%) and Silicon Motion Technology (5.0%). The top 10 made up about 52% of assets. About 91% was in US companies, and the rest was in Taiwan and Canada. As of March 31, 2026, a large share was in industrials and health care.
Does SCDV pay monthly dividends?
Yes, SCDV pays distributions every month. Its trailing 12-month yield was 0.16%, or about $0.04 per share, as of October 27, 2026. Its price history starts June 9, 2026, so that figure covers only part of a year. The fund's stated goal is long-term growth of dividend income. It looks for companies that can raise their dividends over time, not for the highest payout right away.
What's the difference between SCDV and OUSM?
Both funds hold small US dividend-paying stocks, but only about 16% of their holdings overlap. SCDV is actively managed by Bahl & Gaynor, and its 0.70% expense ratio is higher than OUSM's 0.48%. OUSM is also much larger: it had about $843 million in net assets as of August 31, 2026, against about $154 million for SCDV as of June 30, 2026. OUSM returned 10.3% over the year to October 27, 2026. SCDV has no comparable one-year figure yet.
What is SCDV's expense ratio?
SCDV's expense ratio is 0.70% a year, according to its prospectus filed April 22, 2026. All of it is the management fee. The SEC's standard example assumes $10,000 invested, a 5% annual return, and shares sold at the end of each period. On that basis, total costs would be about $72 after one year, $224 after three, $390 after five and $871 after ten. That fee is above the 0.43% average for the similar funds OUSM and DGRS.
How has SCDV performed since launch?
SCDV's record is short and mixed. The fund launched December 11, 2024, and returned 3.15% in 2025, its only full calendar year, according to its prospectus. Its strongest quarter gained 10.61% (the quarter ended June 30, 2025). Its weakest lost 8.76% (the quarter ended March 31, 2025). As of October 27, 2026, it was down 3% for the year to date, after falling 10.8% between August 14 and October 23, 2026.