AVLC vs. HYBB ETF Comparison

Comparison of Avantis U.S. Large Cap Equity ETF (AVLC) to iShares BB Rated Corporate Bond ETF (HYBB)

AVLC

Avantis U.S. Large Cap Equity ETF

AVLC Description

The fund invests primarily in a diverse group of U.S. companies across market sectors and industry groups. The fund seeks securities of companies that it expects to have higher returns by placing an enhanced emphasis on securities of companies with higher profitability and value characteristics. Conversely, the fund seeks to underweight or exclude securities it expects to have lower returns, such as securities of companies with lower levels of profitability and less attractive value characteristics

Grade (RS Rating)

Last Trade

$69.74

Average Daily Volume

19,482

Number of Holdings ^*

976

* may have additional holdings in another (foreign) market

HYBB

iShares BB Rated Corporate Bond ETF

HYBB Description

The investment seeks to track the investment results of the ICE BofA BB US High Yield Constrained Index composed of BB, or equivalently rated, fixed rate U.S. dollar-denominated bonds issued by U.S. and non-U.S. corporations. The fund generally will invest at least 90% of its assets in the component securities of the underlying index and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates (BlackRock Cash Funds), as well as in securities not included in the index, but which BFA believes will help it track the index.

Grade (RS Rating)

Last Trade

$46.60

Average Daily Volume

53,807

Number of Holdings ^*

257

* may have additional holdings in another (foreign) market

Performance

Period	AVLC	HYBB
30 Days	4.71%	0.77%
60 Days	6.29%	-0.93%
90 Days	7.72%	0.18%
12 Months	33.08%	7.81%

132 Overlapping Holdings

Symbol	Grade	Weight in AVLC	Weight in HYBB	Overlap
AA	B	0.03%	0.06%	0.03%
AAL	B	0.01%	0.11%	0.01%
ACM	A	0.02%	0.14%	0.02%
AES	F	0.06%	0.05%	0.05%
AIZ	A	0.05%	0.06%	0.05%
ALLY	C	0.06%	0.07%	0.06%
ALSN	B	0.02%	0.05%	0.02%
AM	A	0.03%	0.09%	0.03%
AMKR	D	0.02%	0.08%	0.02%
AR	B	0.03%	0.05%	0.03%
ATKR	C	0.01%	0.06%	0.01%
AVTR	F	0.01%	0.11%	0.01%
AXTA	A	0.04%	0.08%	0.04%
BALL	D	0.06%	0.1%	0.06%
BBWI	D	0.01%	0.04%	0.01%
BCC	B	0.03%	0.06%	0.03%
BECN	B	0.01%	0.04%	0.01%
BERY	B	0.01%	0.03%	0.01%
BLD	D	0.03%	0.05%	0.03%
BLDR	D	0.07%	0.08%	0.07%
BWXT	B	0.06%	0.06%	0.06%
BYD	C	0.01%	0.12%	0.01%
CACC	D	0.01%	0.06%	0.01%
CCK	C	0.02%	0.06%	0.02%
CCL	B	0.13%	0.29%	0.13%
CHRD	D	0.05%	0.04%	0.04%
CHTR	C	0.05%	0.06%	0.05%
CIEN	B	0.03%	0.06%	0.03%
CIVI	D	0.03%	0.06%	0.03%
CLF	F	0.03%	0.05%	0.03%
CLH	B	0.04%	0.04%	0.04%
CMC	B	0.04%	0.04%	0.04%
COHR	B	0.03%	0.14%	0.03%
COOP	B	0.02%	0.07%	0.02%
COTY	F	0.0%	0.07%	0.0%
CRL	C	0.01%	0.06%	0.01%
CRS	A	0.04%	0.05%	0.04%
CRWD	B	0.11%	0.1%	0.1%
CZR	F	0.0%	0.22%	0.0%
DAR	C	0.02%	0.07%	0.02%
DTE	C	0.07%	0.11%	0.07%
DVA	B	0.01%	0.14%	0.01%
DY	D	0.03%	0.07%	0.03%
EHC	B	0.03%	0.05%	0.03%
EIX	B	0.09%	0.07%	0.07%
ENTG	D	0.02%	0.05%	0.02%
ESAB	B	0.01%	0.11%	0.01%
ESI	A	0.0%	0.12%	0.0%
ESTC	C	0.01%	0.08%	0.01%
FLR	B	0.02%	0.08%	0.02%
FOUR	B	0.01%	0.05%	0.01%
GAP	C	0.04%	0.1%	0.04%
GDDY	A	0.08%	0.09%	0.08%
GPK	C	0.06%	0.04%	0.04%
GTLS	B	0.01%	0.23%	0.01%
HESM	B	0.02%	0.06%	0.02%
HLT	A	0.05%	0.07%	0.05%
HOLX	D	0.03%	0.06%	0.03%
HRI	B	0.0%	0.12%	0.0%
IBP	D	0.03%	0.05%	0.03%
IQV	D	0.04%	0.08%	0.04%
JAZZ	B	0.04%	0.19%	0.04%
KBH	D	0.04%	0.04%	0.04%
KBR	F	0.01%	0.04%	0.01%
LAD	A	0.03%	0.07%	0.03%
LEVI	F	0.01%	0.06%	0.01%
LPX	B	0.06%	0.05%	0.05%
LW	C	0.02%	0.08%	0.02%
LYV	A	0.02%	0.07%	0.02%
M	D	0.02%	0.02%	0.02%
MGM	D	0.01%	0.06%	0.01%
MOH	F	0.07%	0.09%	0.07%
MTDR	B	0.05%	0.08%	0.05%
MTN	C	0.01%	0.09%	0.01%
MUR	D	0.03%	0.05%	0.03%
MUSA	A	0.07%	0.04%	0.04%
NCLH	B	0.08%	0.07%	0.07%
NRG	B	0.05%	0.06%	0.05%
NSIT	F	0.04%	0.07%	0.04%
NWSA	B	0.03%	0.07%	0.03%
NXST	C	0.01%	0.13%	0.01%
OGN	D	0.01%	0.08%	0.01%
OLN	D	0.03%	0.07%	0.03%
OMF	A	0.04%	0.03%	0.03%
ON	D	0.12%	0.1%	0.1%
PAG	B	0.01%	0.07%	0.01%
PARA	C	0.01%	0.08%	0.01%
PCG	A	0.13%	0.14%	0.13%
PFGC	B	0.06%	0.14%	0.06%
PFSI	D	0.01%	0.07%	0.01%
POST	C	0.0%	0.15%	0.0%
PPC	C	0.02%	0.08%	0.02%
PR	B	0.06%	0.05%	0.05%
PTC	A	0.03%	0.07%	0.03%
RBLX	C	0.01%	0.13%	0.01%
RCL	A	0.28%	0.04%	0.04%
RRC	B	0.04%	0.06%	0.04%
SCI	B	0.03%	0.08%	0.03%
SEE	C	0.01%	0.06%	0.01%
SIRI	C	0.0%	0.14%	0.0%
SLGN	A	0.0%	0.09%	0.0%
SM	B	0.01%	0.06%	0.01%
SQ	B	0.07%	0.13%	0.07%
ST	F	0.0%	0.06%	0.0%
STX	D	0.03%	0.04%	0.03%
SYF	B	0.15%	0.11%	0.11%
TDG	D	0.07%	0.16%	0.07%
TFX	F	0.02%	0.07%	0.02%
THC	D	0.02%	0.08%	0.02%
THO	B	0.01%	0.08%	0.01%
TMHC	B	0.02%	0.06%	0.02%
TNET	D	0.01%	0.07%	0.01%
TPX	B	0.02%	0.1%	0.02%
TWLO	A	0.04%	0.06%	0.04%
UAL	A	0.19%	0.27%	0.19%
URI	B	0.2%	0.07%	0.07%
VAL	D	0.01%	0.17%	0.01%
VFC	C	0.03%	0.04%	0.03%
VRT	B	0.13%	0.12%	0.12%
VST	B	0.13%	0.15%	0.13%
W	F	0.0%	0.11%	0.0%
WAL	B	0.06%	0.09%	0.06%
WBA	F	0.0%	0.03%	0.0%
WCC	B	0.07%	0.12%	0.07%
WDC	D	0.03%	0.33%	0.03%
WFRD	D	0.05%	0.25%	0.05%
WH	B	0.01%	0.08%	0.01%
WMS	D	0.06%	0.06%	0.06%
X	C	0.03%	0.04%	0.03%
XPO	B	0.04%	0.08%	0.04%
YUM	B	0.04%	0.04%	0.04%
ZBRA	B	0.03%	0.08%	0.03%

AVLC Overweight 844 Positions Relative to HYBB

Symbol	Grade	Weight
AAPL	C	5.24%
NVDA	C	4.82%
MSFT	F	4.39%
AMZN	C	3.03%
META	D	2.26%
GOOGL	C	1.57%
GOOG	C	1.3%
JPM	A	1.19%
AVGO	D	1.11%
XOM	B	1.04%
COST	B	0.94%
LLY	F	0.79%
TSLA	B	0.78%
BRK.A	B	0.67%
MA	C	0.66%
CVX	A	0.64%
WMT	A	0.64%
V	A	0.59%
HD	A	0.58%
JNJ	D	0.58%
WFC	A	0.55%
CAT	B	0.52%
QCOM	F	0.48%
NFLX	A	0.48%
UNP	C	0.47%
PGR	A	0.46%
VZ	C	0.45%
GS	A	0.44%
CRM	B	0.44%
TJX	A	0.44%
T	A	0.42%
BAC	A	0.42%
ORCL	B	0.42%
KO	D	0.4%
AXP	A	0.4%
PG	A	0.39%
MELI	D	0.39%
CMCSA	B	0.38%
COP	C	0.38%
ABBV	D	0.38%
AMAT	F	0.36%
UNH	C	0.36%
ADP	B	0.36%
MS	A	0.35%
GILD	C	0.35%
LRCX	F	0.34%
ADBE	C	0.33%
MRK	F	0.32%
ACN	C	0.32%
PYPL	B	0.32%
GM	B	0.31%
TMUS	B	0.31%
AMD	F	0.31%
NOW	A	0.3%
EOG	A	0.3%
DE	A	0.3%
CSCO	B	0.3%
WMB	A	0.29%
TGT	F	0.29%
TRGP	B	0.27%
PEP	F	0.27%
INTU	C	0.27%
IBM	C	0.27%
FDX	B	0.26%
TRV	B	0.26%
TXN	C	0.26%
AMP	A	0.26%
CSX	B	0.26%
PCAR	B	0.25%
VRTX	F	0.25%
C	A	0.23%
LMT	D	0.23%
MSI	B	0.23%
COF	B	0.23%
FTNT	C	0.23%
GWW	B	0.23%
USB	A	0.23%
LNG	B	0.23%
DAL	C	0.23%
CMG	B	0.23%
APD	A	0.22%
NSC	B	0.22%
CB	C	0.22%
PNC	B	0.22%
MPC	D	0.22%
KLAC	D	0.21%
LIN	D	0.21%
CMI	A	0.21%
SCHW	B	0.21%
ROST	C	0.21%
ALL	A	0.2%
GE	D	0.2%
ABT	B	0.2%
ZTS	D	0.2%
F	C	0.2%
OKE	A	0.2%
MET	A	0.2%
KR	B	0.2%
FAST	B	0.2%
AIG	B	0.2%
MMM	D	0.19%
PANW	C	0.19%
TFC	A	0.19%
UPS	C	0.19%
HIG	B	0.19%
HES	B	0.19%
AMGN	D	0.19%
AFL	B	0.19%
PSX	C	0.19%
PLTR	B	0.18%
CL	D	0.18%
ISRG	A	0.18%
BK	A	0.18%
PM	B	0.18%
DIS	B	0.18%
PRU	A	0.18%
BMY	B	0.18%
FCX	D	0.18%
BLK	C	0.18%
BKR	B	0.18%
PAYX	C	0.17%
VLO	C	0.17%
TSCO	D	0.17%
NKE	D	0.17%
LEN	D	0.17%
MU	D	0.17%
FANG	D	0.17%
NUE	C	0.16%
MCD	D	0.16%
DUK	C	0.16%
INTC	D	0.16%
DECK	A	0.16%
APP	B	0.16%
RTX	C	0.16%
APO	B	0.16%
ACGL	D	0.15%
ADI	D	0.15%
OXY	D	0.15%
TMO	F	0.15%
PFE	D	0.15%
HON	B	0.15%
KKR	A	0.15%
LULU	C	0.15%
ANET	C	0.15%
REGN	F	0.14%
FITB	A	0.14%
DOW	F	0.14%
AEP	D	0.14%
SHW	A	0.14%
DVN	F	0.14%
TT	A	0.14%
MLM	B	0.14%
ETN	A	0.14%
KMB	D	0.14%
EBAY	D	0.14%
EME	C	0.14%
ODFL	B	0.14%
CTSH	B	0.13%
WM	A	0.13%
SO	D	0.13%
IP	B	0.13%
DHR	F	0.13%
HAL	C	0.13%
BKNG	A	0.13%
CSL	C	0.13%
ELV	F	0.13%
TPL	A	0.13%
GEV	B	0.13%
SYK	C	0.12%
SNPS	B	0.12%
BBY	D	0.12%
MTB	A	0.12%
CDNS	B	0.12%
MDT	D	0.12%
CTAS	B	0.12%
CME	A	0.12%
ETR	B	0.12%
SFM	A	0.12%
FCNCA	A	0.12%
PHM	D	0.12%
DHI	D	0.12%
MKL	A	0.12%
CPNG	D	0.12%
LOW	D	0.12%
STLD	B	0.12%
PKG	A	0.12%
ITW	B	0.12%
BSX	B	0.12%
VRSK	A	0.12%
APH	A	0.12%
HBAN	A	0.11%
ULTA	F	0.11%
BX	A	0.11%
NTRS	A	0.11%
MRVL	B	0.11%
OC	A	0.11%
ADM	D	0.11%
MRO	B	0.11%
IDXX	F	0.11%
XEL	A	0.11%
LYB	F	0.11%
EQT	B	0.11%
RJF	A	0.11%
BURL	A	0.11%
CEG	D	0.11%
WSM	B	0.11%
GRMN	B	0.1%
DRI	B	0.1%
CPRT	A	0.1%
AON	A	0.1%
TROW	B	0.1%
PEG	A	0.1%
STT	A	0.1%
FLEX	A	0.1%
RPM	A	0.1%
SW	A	0.1%
LPLA	A	0.1%
CTRA	B	0.1%
UTHR	C	0.1%
FIX	A	0.1%
JBL	B	0.1%
NVR	D	0.1%
KMI	A	0.1%
EXC	C	0.1%
MCO	B	0.1%
FSLR	F	0.1%
MSTR	C	0.09%
MO	A	0.09%
VTRS	A	0.09%
LVS	C	0.09%
CVNA	B	0.09%
SPGI	C	0.09%
EXPD	D	0.09%
EQH	B	0.09%
ROP	B	0.09%
MDLZ	F	0.09%
MMC	B	0.09%
SLB	C	0.09%
GLW	B	0.09%
PFG	D	0.09%
COR	B	0.09%
SBUX	A	0.09%
IT	C	0.09%
PH	A	0.09%
HSY	F	0.09%
PWR	A	0.09%
UBER	D	0.09%
ADSK	A	0.09%
TXRH	C	0.09%
CF	B	0.09%
LII	A	0.09%
CNC	D	0.08%
OVV	B	0.08%
EG	C	0.08%
EW	C	0.08%
NXPI	D	0.08%
JBHT	C	0.08%
RGA	A	0.08%
BG	F	0.08%
LUV	C	0.08%
BJ	A	0.08%
FICO	B	0.08%
SNA	A	0.08%
DKS	C	0.08%
RF	A	0.08%
AEE	A	0.08%
CTVA	C	0.08%
WDAY	B	0.08%
TPR	B	0.08%
FNF	B	0.08%
COIN	C	0.08%
JEF	A	0.08%
HPE	B	0.08%
FTI	A	0.08%
ED	D	0.08%
CASY	A	0.08%
DFS	B	0.08%
CFG	B	0.08%
EWBC	A	0.08%
ICE	C	0.07%
L	A	0.07%
SWKS	F	0.07%
CINF	A	0.07%
PAYC	B	0.07%
MCK	B	0.07%
ORLY	B	0.07%
SAIA	B	0.07%
JXN	C	0.07%
DLTR	F	0.07%
WRB	A	0.07%
ABNB	C	0.07%
MLI	C	0.07%
SPOT	B	0.07%
SYY	B	0.07%
TOL	B	0.07%
INGR	B	0.07%
RMD	C	0.07%
POOL	C	0.07%
CI	F	0.07%
PPL	B	0.07%
RS	B	0.07%
NEE	D	0.07%
FI	A	0.07%
RNR	C	0.07%
SRE	A	0.07%
PRI	A	0.07%
EXP	A	0.07%
UNM	A	0.06%
VLTO	D	0.06%
COKE	C	0.06%
KVUE	A	0.06%
UHS	D	0.06%
CMA	A	0.06%
LECO	B	0.06%
IFF	D	0.06%
ATI	D	0.06%
GL	B	0.06%
BA	F	0.06%
CMS	C	0.06%
CARR	D	0.06%
MANH	D	0.06%
GPC	D	0.06%
GNRC	B	0.06%
AFG	A	0.06%
CLX	B	0.06%
A	D	0.06%
FIS	C	0.06%
DCI	B	0.06%
EA	A	0.06%
DG	F	0.06%
ANF	C	0.06%
DASH	A	0.06%
KEYS	A	0.06%
DD	D	0.06%
NTAP	C	0.06%
ECL	D	0.06%
CBRE	B	0.06%
VMI	B	0.05%
ORI	A	0.05%
ENSG	D	0.05%
AZO	C	0.05%
CROX	D	0.05%
NOC	D	0.05%
MSCI	C	0.05%
ZM	B	0.05%
CVS	D	0.05%
TAP	C	0.05%
TSN	B	0.05%
MOS	F	0.05%
FOXA	B	0.05%
KDP	D	0.05%
SKX	D	0.05%
JLL	D	0.05%
DXCM	D	0.05%
AJG	B	0.05%
KHC	F	0.05%
RHI	B	0.05%
PNW	B	0.05%
WBS	A	0.05%
MKTX	D	0.05%
ZBH	C	0.05%
ARW	D	0.05%
CBT	C	0.05%
HUM	C	0.05%
WTFC	A	0.05%
VMC	B	0.05%
ATO	A	0.05%
CHD	B	0.05%
AAON	B	0.05%
MCHP	D	0.05%
D	C	0.05%
GD	F	0.05%
TER	D	0.05%
HPQ	B	0.05%
SNOW	C	0.05%
CDW	F	0.05%
KMX	B	0.05%
BWA	D	0.05%
ALV	C	0.05%
PPG	F	0.05%
AXON	A	0.05%
HUBS	A	0.05%
DDOG	A	0.05%
EVRG	A	0.05%
TXT	D	0.05%
VEEV	C	0.05%
STZ	D	0.05%
WAT	B	0.05%
UFPI	B	0.05%
ZION	B	0.05%
IR	B	0.05%
MAR	B	0.05%
LNTH	D	0.05%
AIT	A	0.05%
GGG	B	0.05%
FYBR	D	0.05%
WST	C	0.05%
HWM	A	0.05%
AME	A	0.05%
AXS	A	0.05%
DOCU	A	0.05%
WSO	A	0.05%
FND	C	0.05%
CRBG	B	0.05%
BDX	F	0.05%
TEAM	A	0.05%
R	B	0.05%
HCA	F	0.05%
HOOD	B	0.05%
TTD	B	0.05%
KNSL	B	0.05%
DELL	C	0.05%
EMR	A	0.05%
KEY	B	0.05%
RL	B	0.05%
ATR	B	0.05%
AGCO	D	0.04%
ALNY	D	0.04%
RSG	A	0.04%
EVR	B	0.04%
DTM	B	0.04%
AWI	A	0.04%
SSD	D	0.04%
LNT	A	0.04%
STE	F	0.04%
KNX	B	0.04%
FMC	D	0.04%
SNX	C	0.04%
KEX	C	0.04%
NBIX	C	0.04%
ILMN	D	0.04%
HUBB	B	0.04%
PSTG	D	0.04%
JCI	C	0.04%
XYL	D	0.04%
DINO	D	0.04%
FN	D	0.04%
LH	C	0.04%
ROK	B	0.04%
CPAY	A	0.04%
NET	B	0.04%
CRUS	D	0.04%
ALGN	D	0.04%
APTV	D	0.04%
TYL	B	0.04%
MTG	C	0.04%
OGE	B	0.04%
WCN	A	0.04%
OTIS	C	0.04%
HII	D	0.04%
TREX	C	0.04%
ITT	A	0.04%
KD	B	0.04%
CSGP	D	0.04%
WEC	A	0.04%
SOFI	A	0.04%
BR	A	0.04%
JKHY	D	0.04%
FHN	A	0.04%
WAB	B	0.04%
ANSS	B	0.04%
LSTR	D	0.04%
EPAM	C	0.04%
SF	B	0.04%
CBSH	A	0.04%
FDS	B	0.04%
AYI	B	0.04%
CHX	C	0.04%
CFR	B	0.04%
EXPE	B	0.04%
MPWR	F	0.04%
EMN	D	0.04%
MHK	D	0.04%
DOX	D	0.03%
MEDP	D	0.03%
LDOS	C	0.03%
GWRE	A	0.03%
IBKR	A	0.03%
MOD	A	0.03%
CHRW	C	0.03%
G	B	0.03%
MRNA	F	0.03%
GMED	A	0.03%
TKR	D	0.03%
IEX	B	0.03%
FAF	A	0.03%
ENLC	A	0.03%
UHAL	D	0.03%
RLI	B	0.03%
GME	C	0.03%
FFIV	B	0.03%
ROL	B	0.03%
AFRM	B	0.03%
HALO	F	0.03%
BIIB	F	0.03%
PEGA	A	0.03%
NYT	C	0.03%
ZS	C	0.03%
CTLT	B	0.03%
AWK	D	0.03%
MTZ	B	0.03%
MDB	C	0.03%
PODD	C	0.03%
HLNE	B	0.03%
WWD	B	0.03%
EXPO	D	0.03%
NU	C	0.03%
VOYA	B	0.03%
BMRN	D	0.03%
CBOE	B	0.03%
MTD	D	0.03%
LHX	C	0.03%
PVH	C	0.03%
AKAM	D	0.03%
GNTX	C	0.03%
RGLD	C	0.03%
EXEL	B	0.03%
TTWO	A	0.03%
RIVN	F	0.03%
GEHC	F	0.03%
INCY	C	0.03%
ESNT	D	0.03%
MAT	D	0.03%
SEIC	B	0.03%
GIS	D	0.03%
DOV	A	0.03%
K	A	0.03%
ALK	C	0.03%
CW	B	0.03%
SSB	B	0.03%
CAH	B	0.03%
BPOP	B	0.03%
TTC	D	0.03%
TDY	B	0.03%
BAH	F	0.03%
WBD	C	0.03%
APA	D	0.03%
MNST	C	0.03%
PNFP	B	0.03%
LEA	D	0.03%
CVLT	B	0.03%
AVY	D	0.03%
HRB	D	0.03%
SNV	B	0.03%
AOS	F	0.03%
ONB	B	0.03%
PCTY	B	0.02%
PNR	A	0.02%
EXLS	B	0.02%
LNW	D	0.02%
ROIV	C	0.02%
MSA	D	0.02%
BRO	B	0.02%
BC	C	0.02%
INSM	C	0.02%
FRPT	B	0.02%
MAS	D	0.02%
RBC	A	0.02%
TRU	D	0.02%
OMC	C	0.02%
SWK	D	0.02%
CHH	A	0.02%
QRVO	F	0.02%
OKTA	C	0.02%
HRL	D	0.02%
ARMK	B	0.02%
FCN	D	0.02%
AZN	D	0.02%
BAX	D	0.02%
MDU	D	0.02%
NVT	B	0.02%
HOMB	A	0.02%
OZK	B	0.02%
WTW	B	0.02%
FSS	B	0.02%
ROKU	D	0.02%
OLED	D	0.02%
ONTO	D	0.02%
CNM	D	0.02%
NOV	C	0.02%
HAS	D	0.02%
SIGI	C	0.02%
BRKR	D	0.02%
BMI	B	0.02%
HLI	B	0.02%
ARES	A	0.02%
GLOB	B	0.02%
JHG	A	0.02%
FE	C	0.02%
OLLI	D	0.02%
Z	A	0.02%
MMSI	B	0.02%
AMCR	D	0.02%
MOG.A	B	0.02%
CHE	D	0.02%
FLS	B	0.02%
DOCS	C	0.02%
TOST	B	0.02%
LFUS	F	0.02%
TECH	D	0.02%
SWX	B	0.02%
ES	D	0.02%
FBIN	D	0.02%
VRSN	F	0.02%
EFX	F	0.02%
MTH	D	0.02%
SN	D	0.02%
EL	F	0.02%
DT	C	0.02%
CNP	B	0.02%
CG	A	0.02%
NEM	D	0.02%
OSK	B	0.02%
CSWI	A	0.02%
PINS	D	0.02%
FOX	A	0.02%
MGY	A	0.02%
PCVX	D	0.02%
NTRA	B	0.02%
NDAQ	A	0.02%
JNPR	F	0.02%
QLYS	C	0.02%
TW	A	0.02%
IVZ	B	0.02%
SON	D	0.02%
RVTY	F	0.02%
RVMD	C	0.02%
MASI	A	0.02%
CHDN	B	0.02%
LBRDK	C	0.02%
CADE	B	0.02%
TRMB	B	0.02%
ALLE	D	0.02%
ERIE	D	0.02%
RPRX	D	0.02%
WLK	D	0.02%
NTNX	A	0.02%
NI	A	0.02%
PB	A	0.02%
SATS	D	0.02%
GFS	C	0.01%
SNAP	C	0.01%
LYFT	C	0.01%
HEI	B	0.01%
RMBS	C	0.01%
ELF	C	0.01%
FLUT	A	0.01%
H	B	0.01%
NEU	C	0.01%
SMMT	D	0.01%
IONS	F	0.01%
ADTN	A	0.01%
PI	D	0.01%
RRX	B	0.01%
ZG	A	0.01%
CE	F	0.01%
CFLT	B	0.01%
CYTK	F	0.01%
CHWY	B	0.01%
LCID	F	0.01%
U	C	0.01%
CWEN	C	0.01%
TDW	F	0.01%
EXAS	D	0.01%
RGEN	D	0.01%
LEN	D	0.01%
NOVT	D	0.01%
VERX	B	0.01%
SUM	B	0.01%
ALTR	B	0.01%
WYNN	D	0.01%
PEN	B	0.01%
WTRG	B	0.01%
CAG	D	0.01%
CPB	D	0.01%
DKNG	B	0.01%
NDSN	B	0.01%
GXO	B	0.01%
HQY	B	0.01%
PATH	C	0.01%
AVAV	D	0.01%
NWS	B	0.01%
HXL	D	0.01%
DDS	B	0.01%
BRBR	A	0.01%
PCOR	B	0.01%
NPAB	B	0.01%
ACHC	F	0.01%
PSN	D	0.01%
IPG	D	0.01%
DLB	B	0.01%
MORN	B	0.01%
HEI	B	0.01%
GTLB	B	0.01%
HSIC	B	0.01%
BROS	B	0.01%
SOLV	C	0.01%
MKSI	C	0.01%
KRYS	B	0.01%
AGR	B	0.01%
BILL	A	0.01%
CWAN	B	0.01%
RRR	D	0.01%
LSCC	D	0.01%
UI	A	0.01%
CWST	A	0.01%
SSNC	B	0.01%
DBX	B	0.01%
VRNS	D	0.01%
LKQ	D	0.01%
DUOL	A	0.01%
MTCH	D	0.01%
BSY	D	0.01%
VNT	B	0.01%
CACI	D	0.01%
USFD	A	0.01%
APPF	B	0.01%
MARA	C	0.01%
BOKF	B	0.01%
SJM	D	0.01%
GPN	B	0.01%
J	F	0.01%
RYAN	B	0.01%
SRPT	D	0.01%
MTSI	B	0.01%
IDA	A	0.01%
XP	F	0.01%
WEX	D	0.01%
BEN	C	0.01%
AZEK	A	0.01%
MIDD	C	0.01%
BCPC	B	0.01%
ENPH	F	0.01%
DGX	A	0.01%
NFG	A	0.01%
LUMN	C	0.01%
AN	C	0.01%
VVV	F	0.01%
SPSC	C	0.01%
WTS	B	0.01%
BIO	D	0.01%
SMAR	A	0.01%
TTEK	F	0.01%
PLNT	A	0.01%
ZWS	B	0.01%
LNC	B	0.01%
MDGL	B	0.01%
MKC	D	0.01%
WSC	D	0.01%
GKOS	B	0.01%
SITE	D	0.01%
WING	D	0.01%
IOT	A	0.01%
VKTX	F	0.01%
AL	B	0.01%
PBF	D	0.01%
FTV	C	0.01%
ELAN	D	0.01%
FIVE	F	0.01%
SMCI	F	0.01%
CR	A	0.01%
ALB	C	0.01%
LANC	C	0.01%
ITCI	C	0.01%
AUR	C	0.01%
CELH	F	0.01%
S	B	0.01%
DPZ	C	0.01%
CGNX	C	0.01%
NVST	B	0.0%
TPG	A	0.0%
CRSP	D	0.0%
WOLF	F	0.0%
WHR	B	0.0%
RARE	D	0.0%
AGL	F	0.0%
EMBC	C	0.0%
KLG	C	0.0%
HIMS	B	0.0%
SEDG	F	0.0%
FG	B	0.0%
CNXC	F	0.0%
FFIN	B	0.0%
IMVT	F	0.0%
DXC	B	0.0%
RNA	D	0.0%
SPB	C	0.0%
TXG	F	0.0%
SAM	C	0.0%
UGI	A	0.0%
BRZE	C	0.0%
CRVL	A	0.0%
BBIO	F	0.0%
GBCI	B	0.0%
UHAL	D	0.0%
AGO	B	0.0%
APLS	D	0.0%
IPGP	D	0.0%
INFA	D	0.0%
FNB	A	0.0%
PLUG	F	0.0%
ZI	D	0.0%
ALKS	B	0.0%
FIZZ	C	0.0%
CWEN	C	0.0%
TDC	D	0.0%
RDN	C	0.0%
HCP	B	0.0%
CAR	C	0.0%
EEFT	B	0.0%
SNDR	B	0.0%
WK	B	0.0%
TENB	C	0.0%
FLO	D	0.0%
ALIT	C	0.0%
FRHC	B	0.0%
LBRDA	C	0.0%
OPCH	D	0.0%
NFE	D	0.0%
BIRK	D	0.0%
OWL	A	0.0%
INSP	D	0.0%
CRDO	B	0.0%
MMS	F	0.0%
AMG	B	0.0%
COLB	A	0.0%
ACT	D	0.0%
ETSY	D	0.0%
BFAM	D	0.0%
XRAY	F	0.0%
REYN	D	0.0%
CNA	B	0.0%
NUVL	D	0.0%
DAY	B	0.0%
RDDT	B	0.0%
TMDX	F	0.0%
SAIC	F	0.0%
ALGM	D	0.0%
ZETA	D	0.0%
RBRK	A	0.0%
RH	B	0.0%
TKO	B	0.0%
APG	B	0.0%
BPMC	C	0.0%

AVLC Underweight 125 Positions Relative to HYBB

Symbol	Grade	Weight
JBLU	F	-0.3%
INGM	F	-0.29%
SBAC	D	-0.2%
GTN	F	-0.2%
TLN	B	-0.19%
BFH	B	-0.14%
AMCX	C	-0.13%
HLF	C	-0.12%
KNTK	B	-0.12%
HGV	B	-0.12%
HTZ	C	-0.12%
IGT	F	-0.11%
USM	B	-0.1%
SBH	C	-0.1%
ADT	C	-0.1%
TRN	C	-0.1%
TEX	D	-0.09%
VSAT	F	-0.09%
ASGN	F	-0.09%
GEN	B	-0.09%
PK	B	-0.09%
FTRE	D	-0.09%
AVNT	B	-0.09%
AIR	B	-0.09%
CWK	B	-0.09%
IEP	F	-0.09%
ATSG	B	-0.09%
GEO	B	-0.09%
ADNT	F	-0.08%
CRI	D	-0.08%
ACI	C	-0.08%
GNL	F	-0.08%
NEP	F	-0.08%
SLM	A	-0.08%
ACCO	C	-0.08%
LADR	B	-0.08%
OUT	A	-0.08%
SRCL	C	-0.08%
DO	D	-0.08%
CXW	B	-0.08%
ECPG	B	-0.08%
ALGT	B	-0.08%
HHH	B	-0.08%
NMRK	B	-0.08%
SNEX	B	-0.08%
RNG	B	-0.07%
MD	B	-0.07%
KFY	B	-0.07%
SAH	A	-0.07%
RLJ	C	-0.07%
MWA	B	-0.07%
ATGE	B	-0.07%
ZD	C	-0.07%
FCFS	F	-0.07%
FTAI	B	-0.07%
GHC	C	-0.07%
PHIN	A	-0.07%
NAVI	C	-0.07%
EPC	D	-0.07%
SCS	C	-0.07%
GPI	A	-0.07%
ARLP	A	-0.07%
TGNA	B	-0.07%
LTH	C	-0.07%
NGVT	B	-0.07%
IRM	D	-0.07%
UA	C	-0.07%
HLX	B	-0.06%
TCBI	B	-0.06%
MTX	B	-0.06%
PBH	A	-0.06%
RXO	C	-0.06%
TRS	B	-0.06%
TTMI	B	-0.06%
CCOI	B	-0.06%
NWL	B	-0.06%
CNX	A	-0.06%
VSTO	A	-0.06%
VNOM	A	-0.06%
RHP	B	-0.06%
ET	A	-0.06%
CCS	D	-0.06%
BCO	D	-0.06%
SXC	A	-0.06%
VNO	B	-0.05%
DFH	D	-0.05%
OII	B	-0.05%
DAN	D	-0.05%
ASH	D	-0.05%
AMN	F	-0.05%
STWD	C	-0.05%
WGO	C	-0.05%
JWN	C	-0.05%
GOLF	B	-0.05%
OI	C	-0.05%
TPH	D	-0.05%
SYNA	C	-0.05%
VIAV	B	-0.05%
FL	F	-0.05%
ABG	B	-0.05%
LAMR	D	-0.05%
SUN	B	-0.05%
BXMT	C	-0.05%
REZI	A	-0.04%
FUL	F	-0.04%
CXT	B	-0.04%
PRGO	B	-0.04%
BSIG	A	-0.04%
FOR	F	-0.04%
SPR	D	-0.04%
GNW	A	-0.04%
ENS	D	-0.04%
LGIH	D	-0.04%
IMKTA	C	-0.04%
VLY	B	-0.04%
BDN	C	-0.04%
PRAA	C	-0.04%
CENT	C	-0.04%
KSS	F	-0.04%
TNL	A	-0.04%
HI	C	-0.04%
HPP	F	-0.04%
MHO	D	-0.04%
CSTM	F	-0.03%
AAP	C	-0.03%