AVLC vs. VCEB ETF Comparison

Comparison of Avantis U.S. Large Cap Equity ETF (AVLC) to Vanguard ESG U.S. Corporate Bond ETF (VCEB)

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

VCEB

Vanguard ESG U.S. Corporate Bond ETF

VCEB Description

The investment seeks to track the performance of the Bloomberg Barclays MSCI US Corporate SRI Select Index (the ?index?). The index excludes bonds with maturities of 1 year or less and with less than $750 million outstanding, and is screened for certain environmental, social, and governance (ESG) criteria by the index provider, which is independent of Vanguard. All of the fund?s investments will be selected through the sampling process, and under normal circumstances, at least 80% of the fund?s assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$62.73

Average Daily Volume

37,148

Number of Holdings ^*

245

* may have additional holdings in another (foreign) market

Performance

Period	AVLC	VCEB
30 Days	4.71%	-0.25%
60 Days	6.29%	-2.76%
90 Days	7.72%	-1.73%
12 Months	33.08%	7.45%

211 Overlapping Holdings

	Symbol	Grade	Weight in AVLC	Weight in VCEB	Overlap
	A	D	0.06%	0.02%	0.02%
	AAPL	C	5.24%	0.01%	0.01%
	ABBV	D	0.38%	0.03%	0.03%
	ABT	B	0.2%	0.03%	0.03%
	ACGL	D	0.15%	0.03%	0.03%
	ADBE	C	0.33%	0.01%	0.01%
	ADI	D	0.15%	0.01%	0.01%
	ADM	D	0.11%	0.02%	0.02%
	ADP	B	0.36%	0.03%	0.03%
	AFL	B	0.19%	0.05%	0.05%
	AIG	B	0.2%	0.01%	0.01%
	AJG	B	0.05%	0.02%	0.02%
	AL	B	0.01%	0.01%	0.01%
	ALLY	C	0.06%	0.03%	0.03%
	AMAT	F	0.36%	0.01%	0.01%
	AMGN	D	0.19%	0.01%	0.01%
	AMP	A	0.26%	0.03%	0.03%
	AMZN	C	3.03%	0.01%	0.01%
	AON	A	0.1%	0.01%	0.01%
	APD	A	0.22%	0.02%	0.02%
	APH	A	0.12%	0.02%	0.02%
	AVGO	D	1.11%	0.02%	0.02%
	AWK	D	0.03%	0.02%	0.02%
	AXP	A	0.4%	0.01%	0.01%
	AZN	D	0.02%	0.02%	0.02%
	AZO	C	0.05%	0.04%	0.04%
	BAC	A	0.42%	0.02%	0.02%
	BAX	D	0.02%	0.02%	0.02%
	BDX	F	0.05%	0.03%	0.03%
	BEN	C	0.01%	0.02%	0.01%
	BERY	B	0.01%	0.01%	0.01%
	BG	F	0.08%	0.03%	0.03%
	BIIB	F	0.03%	0.01%	0.01%
	BK	A	0.18%	0.01%	0.01%
	BKNG	A	0.13%	0.02%	0.02%
	BLK	C	0.18%	0.02%	0.02%
	BMY	B	0.18%	0.03%	0.03%
	BR	A	0.04%	0.02%	0.02%
	BSX	B	0.12%	0.01%	0.01%
	BWA	D	0.05%	0.03%	0.03%
	C	A	0.23%	0.01%	0.01%
	CAG	D	0.01%	0.01%	0.01%
	CAH	B	0.03%	0.02%	0.02%
	CARR	D	0.06%	0.02%	0.02%
	CAT	B	0.52%	0.01%	0.01%
	CB	C	0.22%	0.01%	0.01%
	CF	B	0.09%	0.02%	0.02%
	CFG	B	0.08%	0.03%	0.03%
	CHTR	C	0.05%	0.02%	0.02%
	CI	F	0.07%	0.01%	0.01%
	CMA	A	0.06%	0.03%	0.03%
	CMCSA	B	0.38%	0.01%	0.01%
	CME	A	0.12%	0.02%	0.02%
	CMI	A	0.21%	0.02%	0.02%
	COF	B	0.23%	0.01%	0.01%
	CPB	D	0.01%	0.02%	0.01%
	CRM	B	0.44%	0.02%	0.02%
	CSCO	B	0.3%	0.02%	0.02%
	CSL	C	0.13%	0.02%	0.02%
	CTAS	B	0.12%	0.04%	0.04%
	CVS	D	0.05%	0.01%	0.01%
	DD	D	0.06%	0.06%	0.06%
	DE	A	0.3%	0.02%	0.02%
	DELL	C	0.05%	0.01%	0.01%
	DFS	B	0.08%	0.01%	0.01%
	DG	F	0.06%	0.03%	0.03%
	DGX	A	0.01%	0.03%	0.01%
	DHR	F	0.13%	0.01%	0.01%
	DIS	B	0.18%	0.01%	0.01%
	DLTR	F	0.07%	0.02%	0.02%
	DOW	F	0.14%	0.01%	0.01%
	DT	C	0.02%	0.19%	0.02%
	EA	A	0.06%	0.01%	0.01%
	EBAY	D	0.14%	0.01%	0.01%
	EFX	F	0.02%	0.02%	0.02%
	EG	C	0.08%	0.03%	0.03%
	EMN	D	0.04%	0.02%	0.02%
	EQH	B	0.09%	0.05%	0.05%
	ETN	A	0.14%	0.03%	0.03%
	EXP	A	0.07%	0.01%	0.01%
	EXPE	B	0.04%	0.04%	0.04%
	FDX	B	0.26%	0.01%	0.01%
	FIS	C	0.06%	0.01%	0.01%
	FITB	A	0.14%	0.02%	0.02%
	FOXA	B	0.05%	0.01%	0.01%
	FTV	C	0.01%	0.03%	0.01%
	GILD	C	0.35%	0.01%	0.01%
	GIS	D	0.03%	0.03%	0.03%
	GLW	B	0.09%	0.02%	0.02%
	GM	B	0.31%	0.01%	0.01%
	GOOGL	C	1.57%	0.02%	0.02%
	GPN	B	0.01%	0.01%	0.01%
	GS	A	0.44%	0.01%	0.01%
	GWW	B	0.23%	0.04%	0.04%
	HAS	D	0.02%	0.03%	0.02%
	HBAN	A	0.11%	0.02%	0.02%
	HCA	F	0.05%	0.02%	0.02%
	HD	A	0.58%	0.01%	0.01%
	HIG	B	0.19%	0.02%	0.02%
	HPE	B	0.08%	0.01%	0.01%
	HPQ	B	0.05%	0.01%	0.01%
	HRL	D	0.02%	0.02%	0.02%
	HUM	C	0.05%	0.01%	0.01%
	IBM	C	0.27%	0.02%	0.02%
	ICE	C	0.07%	0.01%	0.01%
	IFF	D	0.06%	0.03%	0.03%
	INTC	D	0.16%	0.01%	0.01%
	ITW	B	0.12%	0.03%	0.03%
	JNJ	D	0.58%	0.01%	0.01%
	JPM	A	1.19%	0.01%	0.01%
	K	A	0.03%	0.03%	0.03%
	KDP	D	0.05%	0.01%	0.01%
	KEY	B	0.05%	0.01%	0.01%
	KLAC	D	0.21%	0.01%	0.01%
	KMB	D	0.14%	0.04%	0.04%
	KO	D	0.4%	0.01%	0.01%
	LEA	D	0.03%	0.02%	0.02%
	LEN	D	0.01%	0.04%	0.01%
	LEN	D	0.17%	0.04%	0.04%
	LH	C	0.04%	0.03%	0.03%
	LLY	F	0.79%	0.03%	0.03%
	LOW	D	0.12%	0.01%	0.01%
	LRCX	F	0.34%	0.01%	0.01%
	LUV	C	0.08%	0.01%	0.01%
	MA	C	0.66%	0.03%	0.03%
	MAR	B	0.05%	0.01%	0.01%
	MCD	D	0.16%	0.01%	0.01%
	MCHP	D	0.05%	0.04%	0.04%
	MCK	B	0.07%	0.02%	0.02%
	MDLZ	F	0.09%	0.01%	0.01%
	MDT	D	0.12%	0.05%	0.05%
	MET	A	0.2%	0.01%	0.01%
	MKC	D	0.01%	0.02%	0.01%
	MLM	B	0.14%	0.02%	0.02%
	MMC	B	0.09%	0.04%	0.04%
	MMM	D	0.19%	0.01%	0.01%
	MOS	F	0.05%	0.06%	0.05%
	MRK	F	0.32%	0.01%	0.01%
	MRVL	B	0.11%	0.01%	0.01%
	MS	A	0.35%	0.01%	0.01%
	MSFT	F	4.39%	0.01%	0.01%
	MSI	B	0.23%	0.01%	0.01%
	MTB	A	0.12%	0.07%	0.07%
	MU	D	0.17%	0.03%	0.03%
	NEM	D	0.02%	0.02%	0.02%
	NKE	D	0.17%	0.01%	0.01%
	NOW	A	0.3%	0.04%	0.04%
	NTAP	C	0.06%	0.02%	0.02%
	NTRS	A	0.11%	0.03%	0.03%
	NVDA	C	4.82%	0.01%	0.01%
	NVR	D	0.1%	0.03%	0.03%
	NXPI	D	0.08%	0.01%	0.01%
	OMC	C	0.02%	0.02%	0.02%
	ORCL	B	0.42%	0.02%	0.02%
	ORLY	B	0.07%	0.03%	0.03%
	OTIS	C	0.04%	0.04%	0.04%
	PEP	F	0.27%	0.01%	0.01%
	PFE	D	0.15%	0.01%	0.01%
	PG	A	0.39%	0.01%	0.01%
	PGR	A	0.46%	0.05%	0.05%
	PH	A	0.09%	0.01%	0.01%
	PNC	B	0.22%	0.01%	0.01%
	PPG	F	0.05%	0.03%	0.03%
	PRU	A	0.18%	0.01%	0.01%
	PWR	A	0.09%	0.03%	0.03%
	PYPL	B	0.32%	0.01%	0.01%
	QCOM	F	0.48%	0.01%	0.01%
	QRVO	F	0.02%	0.02%	0.02%
	REGN	F	0.14%	0.02%	0.02%
	RF	A	0.08%	0.03%	0.03%
	RJF	A	0.11%	0.02%	0.02%
	RL	B	0.05%	0.02%	0.02%
	ROP	B	0.09%	0.03%	0.03%
	RPRX	D	0.02%	0.01%	0.01%
	RSG	A	0.04%	0.01%	0.01%
	SBUX	A	0.09%	0.02%	0.02%
	SCHW	B	0.21%	0.01%	0.01%
	SHW	A	0.14%	0.02%	0.02%
	SJM	D	0.01%	0.03%	0.01%
	STT	A	0.1%	0.01%	0.01%
	SWK	D	0.02%	0.02%	0.02%
	SYF	B	0.15%	0.03%	0.03%
	SYK	C	0.12%	0.01%	0.01%
	SYY	B	0.07%	0.01%	0.01%
	T	A	0.42%	0.01%	0.01%
	TFC	A	0.19%	0.01%	0.01%
	TGT	F	0.29%	0.01%	0.01%
	TJX	A	0.44%	0.07%	0.07%
	TMO	F	0.15%	0.01%	0.01%
	TMUS	B	0.31%	0.01%	0.01%
	TRV	B	0.26%	0.02%	0.02%
	TSN	B	0.05%	0.01%	0.01%
	TT	A	0.14%	0.02%	0.02%
	TXN	C	0.26%	0.01%	0.01%
	UHS	D	0.06%	0.02%	0.02%
	UNH	C	0.36%	0.01%	0.01%
	UPS	C	0.19%	0.01%	0.01%
	USB	A	0.23%	0.01%	0.01%
	V	A	0.59%	0.02%	0.02%
	VFC	C	0.03%	0.02%	0.02%
	VMC	B	0.05%	0.02%	0.02%
	VRSK	A	0.12%	0.04%	0.04%
	VRSN	F	0.02%	0.03%	0.02%
	VTRS	A	0.09%	0.01%	0.01%
	VZ	C	0.45%	0.02%	0.02%
	WAB	B	0.04%	0.03%	0.03%
	WBA	F	0.0%	0.02%	0.0%
	WM	A	0.13%	0.01%	0.01%
	XRAY	F	0.0%	0.02%	0.0%
	ZBH	C	0.05%	0.03%	0.03%
	ZTS	D	0.2%	0.01%	0.01%

AVLC Overweight 765 Positions Relative to VCEB

	Symbol	Grade	Weight
	META	D	2.26%
	GOOG	C	1.3%
	XOM	B	1.04%
	COST	B	0.94%
	TSLA	B	0.78%
	BRK.A	B	0.67%
	CVX	A	0.64%
	WMT	A	0.64%
	WFC	A	0.55%
	NFLX	A	0.48%
	UNP	C	0.47%
	MELI	D	0.39%
	COP	C	0.38%
	ACN	C	0.32%
	AMD	F	0.31%
	EOG	A	0.3%
	WMB	A	0.29%
	RCL	A	0.28%
	TRGP	B	0.27%
	INTU	C	0.27%
	CSX	B	0.26%
	PCAR	B	0.25%
	VRTX	F	0.25%
	LMT	D	0.23%
	FTNT	C	0.23%
	LNG	B	0.23%
	DAL	C	0.23%
	CMG	B	0.23%
	NSC	B	0.22%
	MPC	D	0.22%
	LIN	D	0.21%
	ROST	C	0.21%
	ALL	A	0.2%
	GE	D	0.2%
	F	C	0.2%
	URI	B	0.2%
	OKE	A	0.2%
	KR	B	0.2%
	FAST	B	0.2%
	PANW	C	0.19%
	HES	B	0.19%
	UAL	A	0.19%
	PSX	C	0.19%
	PLTR	B	0.18%
	CL	D	0.18%
	ISRG	A	0.18%
	PM	B	0.18%
	FCX	D	0.18%
	BKR	B	0.18%
	PAYX	C	0.17%
	VLO	C	0.17%
	TSCO	D	0.17%
	FANG	D	0.17%
	NUE	C	0.16%
	DUK	C	0.16%
	DECK	A	0.16%
	APP	B	0.16%
	RTX	C	0.16%
	APO	B	0.16%
	OXY	D	0.15%
	HON	B	0.15%
	KKR	A	0.15%
	LULU	C	0.15%
	ANET	C	0.15%
	AEP	D	0.14%
	DVN	F	0.14%
	EME	C	0.14%
	ODFL	B	0.14%
	CTSH	B	0.13%
	SO	D	0.13%
	IP	B	0.13%
	VRT	B	0.13%
	CCL	B	0.13%
	HAL	C	0.13%
	VST	B	0.13%
	ELV	F	0.13%
	TPL	A	0.13%
	PCG	A	0.13%
	GEV	B	0.13%
	SNPS	B	0.12%
	BBY	D	0.12%
	CDNS	B	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%
	STLD	B	0.12%
	PKG	A	0.12%
	ON	D	0.12%
	ULTA	F	0.11%
	BX	A	0.11%
	OC	A	0.11%
	MRO	B	0.11%
	IDXX	F	0.11%
	XEL	A	0.11%
	CRWD	B	0.11%
	LYB	F	0.11%
	EQT	B	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%
	TROW	B	0.1%
	PEG	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%
	KMI	A	0.1%
	EXC	C	0.1%
	MCO	B	0.1%
	FSLR	F	0.1%
	MSTR	C	0.09%
	MO	A	0.09%
	LVS	C	0.09%
	CVNA	B	0.09%
	SPGI	C	0.09%
	EXPD	D	0.09%
	SLB	C	0.09%
	PFG	D	0.09%
	COR	B	0.09%
	IT	C	0.09%
	HSY	F	0.09%
	EIX	B	0.09%
	UBER	D	0.09%
	ADSK	A	0.09%
	TXRH	C	0.09%
	LII	A	0.09%
	CNC	D	0.08%
	OVV	B	0.08%
	EW	C	0.08%
	JBHT	C	0.08%
	RGA	A	0.08%
	GDDY	A	0.08%
	BJ	A	0.08%
	FICO	B	0.08%
	SNA	A	0.08%
	DKS	C	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%
	FTI	A	0.08%
	ED	D	0.08%
	CASY	A	0.08%
	NCLH	B	0.08%
	EWBC	A	0.08%
	SQ	B	0.07%
	DTE	C	0.07%
	L	A	0.07%
	SWKS	F	0.07%
	CINF	A	0.07%
	WCC	B	0.07%
	MOH	F	0.07%
	PAYC	B	0.07%
	SAIA	B	0.07%
	JXN	C	0.07%
	WRB	A	0.07%
	ABNB	C	0.07%
	MLI	C	0.07%
	SPOT	B	0.07%
	TOL	B	0.07%
	INGR	B	0.07%
	RMD	C	0.07%
	POOL	C	0.07%
	PPL	B	0.07%
	RS	B	0.07%
	MUSA	A	0.07%
	NEE	D	0.07%
	FI	A	0.07%
	BLDR	D	0.07%
	TDG	D	0.07%
	RNR	C	0.07%
	SRE	A	0.07%
	PRI	A	0.07%
	UNM	A	0.06%
	PR	B	0.06%
	VLTO	D	0.06%
	COKE	C	0.06%
	KVUE	A	0.06%
	WAL	B	0.06%
	LECO	B	0.06%
	ATI	D	0.06%
	GL	B	0.06%
	BA	F	0.06%
	WMS	D	0.06%
	CMS	C	0.06%
	MANH	D	0.06%
	GPC	D	0.06%
	GNRC	B	0.06%
	AFG	A	0.06%
	GPK	C	0.06%
	CLX	B	0.06%
	BWXT	B	0.06%
	DCI	B	0.06%
	PFGC	B	0.06%
	ANF	C	0.06%
	DASH	A	0.06%
	KEYS	A	0.06%
	LPX	B	0.06%
	ECL	D	0.06%
	CBRE	B	0.06%
	BALL	D	0.06%
	AES	F	0.06%
	VMI	B	0.05%
	ORI	A	0.05%
	ENSG	D	0.05%
	CROX	D	0.05%
	NOC	D	0.05%
	MSCI	C	0.05%
	ZM	B	0.05%
	TAP	C	0.05%
	WFRD	D	0.05%
	SKX	D	0.05%
	JLL	D	0.05%
	DXCM	D	0.05%
	KHC	F	0.05%
	RHI	B	0.05%
	PNW	B	0.05%
	WBS	A	0.05%
	MKTX	D	0.05%
	ARW	D	0.05%
	CBT	C	0.05%
	WTFC	A	0.05%
	ATO	A	0.05%
	CHD	B	0.05%
	MTDR	B	0.05%
	AAON	B	0.05%
	D	C	0.05%
	GD	F	0.05%
	TER	D	0.05%
	SNOW	C	0.05%
	CDW	F	0.05%
	KMX	B	0.05%
	ALV	C	0.05%
	AXON	A	0.05%
	HUBS	A	0.05%
	DDOG	A	0.05%
	EVRG	A	0.05%
	TXT	D	0.05%
	CHRD	D	0.05%
	VEEV	C	0.05%
	STZ	D	0.05%
	AIZ	A	0.05%
	WAT	B	0.05%
	UFPI	B	0.05%
	ZION	B	0.05%
	IR	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%
	TEAM	A	0.05%
	NRG	B	0.05%
	R	B	0.05%
	HOOD	B	0.05%
	TTD	B	0.05%
	KNSL	B	0.05%
	EMR	A	0.05%
	HLT	A	0.05%
	ATR	B	0.05%
	AGCO	D	0.04%
	ALNY	D	0.04%
	EVR	B	0.04%
	DTM	B	0.04%
	AWI	A	0.04%
	SSD	D	0.04%
	TWLO	A	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%
	NSIT	F	0.04%
	PSTG	D	0.04%
	JCI	C	0.04%
	XPO	B	0.04%
	XYL	D	0.04%
	YUM	B	0.04%
	IQV	D	0.04%
	DINO	D	0.04%
	FN	D	0.04%
	ROK	B	0.04%
	CMC	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%
	HII	D	0.04%
	TREX	C	0.04%
	ITT	A	0.04%
	KBH	D	0.04%
	KD	B	0.04%
	CSGP	D	0.04%
	WEC	A	0.04%
	AXTA	A	0.04%
	SOFI	A	0.04%
	RRC	B	0.04%
	CLH	B	0.04%
	JKHY	D	0.04%
	JAZZ	B	0.04%
	CRS	A	0.04%
	FHN	A	0.04%
	ANSS	B	0.04%
	GAP	C	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%
	OMF	A	0.04%
	MPWR	F	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%
	COHR	B	0.03%
	MOD	A	0.03%
	SCI	B	0.03%
	LAD	A	0.03%
	IBP	D	0.03%
	CHRW	C	0.03%
	BCC	B	0.03%
	BLD	D	0.03%
	G	B	0.03%
	MRNA	F	0.03%
	GMED	A	0.03%
	TKR	D	0.03%
	DY	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%
	NWSA	B	0.03%
	FFIV	B	0.03%
	X	C	0.03%
	ROL	B	0.03%
	AFRM	B	0.03%
	HALO	F	0.03%
	OLN	D	0.03%
	PEGA	A	0.03%
	NYT	C	0.03%
	ZS	C	0.03%
	CTLT	B	0.03%
	ZBRA	B	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%
	STX	D	0.03%
	CBOE	B	0.03%
	MTD	D	0.03%
	LHX	C	0.03%
	WDC	D	0.03%
	MUR	D	0.03%
	AM	A	0.03%
	PVH	C	0.03%
	AKAM	D	0.03%
	HOLX	D	0.03%
	GNTX	C	0.03%
	EHC	B	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%
	AA	B	0.03%
	DOV	A	0.03%
	PTC	A	0.03%
	ALK	C	0.03%
	CW	B	0.03%
	SSB	B	0.03%
	BPOP	B	0.03%
	TTC	D	0.03%
	TDY	B	0.03%
	CIEN	B	0.03%
	BAH	F	0.03%
	WBD	C	0.03%
	CIVI	D	0.03%
	APA	D	0.03%
	AR	B	0.03%
	MNST	C	0.03%
	PNFP	B	0.03%
	CLF	F	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%
	PPC	C	0.02%
	CHH	A	0.02%
	OKTA	C	0.02%
	ARMK	B	0.02%
	FCN	D	0.02%
	MDU	D	0.02%
	NVT	B	0.02%
	HOMB	A	0.02%
	ALSN	B	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%
	SIGI	C	0.02%
	DAR	C	0.02%
	BRKR	D	0.02%
	BMI	B	0.02%
	HLI	B	0.02%
	ARES	A	0.02%
	FLR	B	0.02%
	GLOB	B	0.02%
	JHG	A	0.02%
	FE	C	0.02%
	OLLI	D	0.02%
	Z	A	0.02%
	LYV	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%
	CCK	C	0.02%
	FBIN	D	0.02%
	LW	C	0.02%
	MTH	D	0.02%
	SN	D	0.02%
	EL	F	0.02%
	CNP	B	0.02%
	COOP	B	0.02%
	CG	A	0.02%
	ENTG	D	0.02%
	OSK	B	0.02%
	CSWI	A	0.02%
	PINS	D	0.02%
	FOX	A	0.02%
	M	D	0.02%
	HESM	B	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%
	THC	D	0.02%
	TMHC	B	0.02%
	AMKR	D	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%
	TPX	B	0.02%
	ERIE	D	0.02%
	ACM	A	0.02%
	TFX	F	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%
	SEE	C	0.01%
	RMBS	C	0.01%
	ELF	C	0.01%
	FLUT	A	0.01%
	H	B	0.01%
	PAG	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%
	BBWI	D	0.01%
	CFLT	B	0.01%
	TNET	D	0.01%
	CYTK	F	0.01%
	CHWY	B	0.01%
	LCID	F	0.01%
	AAL	B	0.01%
	GTLS	B	0.01%
	U	C	0.01%
	CWEN	C	0.01%
	TDW	F	0.01%
	EXAS	D	0.01%
	RGEN	D	0.01%
	VAL	D	0.01%
	NOVT	D	0.01%
	VERX	B	0.01%
	SUM	B	0.01%
	ALTR	B	0.01%
	WYNN	D	0.01%
	CACC	D	0.01%
	PEN	B	0.01%
	WTRG	B	0.01%
	DKNG	B	0.01%
	NDSN	B	0.01%
	GXO	B	0.01%
	HQY	B	0.01%
	NXST	C	0.01%
	PATH	C	0.01%
	AVAV	D	0.01%
	NWS	B	0.01%
	HXL	D	0.01%
	ESAB	B	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%
	FOUR	B	0.01%
	MORN	B	0.01%
	HEI	B	0.01%
	GTLB	B	0.01%
	HSIC	B	0.01%
	BROS	B	0.01%
	MTN	C	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%
	ESTC	C	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%
	ATKR	C	0.01%
	BSY	D	0.01%
	BECN	B	0.01%
	VNT	B	0.01%
	CACI	D	0.01%
	USFD	A	0.01%
	APPF	B	0.01%
	AVTR	F	0.01%
	PARA	C	0.01%
	MARA	C	0.01%
	BOKF	B	0.01%
	OGN	D	0.01%
	J	F	0.01%
	RYAN	B	0.01%
	SRPT	D	0.01%
	RBLX	C	0.01%
	MTSI	B	0.01%
	KBR	F	0.01%
	IDA	A	0.01%
	XP	F	0.01%
	LEVI	F	0.01%
	WEX	D	0.01%
	CRL	C	0.01%
	MGM	D	0.01%
	AZEK	A	0.01%
	MIDD	C	0.01%
	BCPC	B	0.01%
	ENPH	F	0.01%
	NFG	A	0.01%
	LUMN	C	0.01%
	AN	C	0.01%
	BYD	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%
	WSC	D	0.01%
	GKOS	B	0.01%
	PFSI	D	0.01%
	SITE	D	0.01%
	WING	D	0.01%
	DVA	B	0.01%
	IOT	A	0.01%
	VKTX	F	0.01%
	PBF	D	0.01%
	THO	B	0.01%
	ELAN	D	0.01%
	FIVE	F	0.01%
	SM	B	0.01%
	SMCI	F	0.01%
	CR	A	0.01%
	WH	B	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%
	COTY	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%
	SIRI	C	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%
	HRI	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%
	ST	F	0.0%
	LBRDA	C	0.0%
	OPCH	D	0.0%
	W	F	0.0%
	NFE	D	0.0%
	BIRK	D	0.0%
	OWL	A	0.0%
	INSP	D	0.0%
	ESI	A	0.0%
	CRDO	B	0.0%
	CZR	F	0.0%
	MMS	F	0.0%
	AMG	B	0.0%
	COLB	A	0.0%
	POST	C	0.0%
	ACT	D	0.0%
	ETSY	D	0.0%
	BFAM	D	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%
	SLGN	A	0.0%
	TKO	B	0.0%
	APG	B	0.0%
	BPMC	C	0.0%

AVLC Underweight 35 Positions Relative to VCEB

	Symbol	Grade	Weight
	WEST	C	-0.06%
	STLA	F	-0.04%
	CPT	B	-0.04%
	EQR	B	-0.03%
	DOC	D	-0.03%
	BHF	B	-0.03%
	EQIX	A	-0.03%
	VOD	F	-0.03%
	HUN	F	-0.02%
	HST	C	-0.02%
	VTR	C	-0.02%
	O	D	-0.02%
	BABA	D	-0.02%
	DB	D	-0.02%
	HSBC	B	-0.02%
	GSK	F	-0.02%
	GLPI	C	-0.01%
	WB	D	-0.01%
	PLD	D	-0.01%
	BRX	A	-0.01%
	ARE	D	-0.01%
	DLR	B	-0.01%
	BXP	D	-0.01%
	BMO	A	-0.01%
	WELL	A	-0.01%
	CM	A	-0.01%
	CCI	D	-0.01%
	AER	B	-0.01%
	BNS	A	-0.01%
	SPG	B	-0.01%
	AMT	D	-0.01%
	TD	F	-0.01%
	NWG	C	-0.01%
	MUFG	B	-0.01%
	RY	A	-0.01%

AVLC: Top Represented Industries & Keywords

Industries: Software - Application Biotechnology Banks - Regional - US Diversified Industrials Business Services Software - Infrastructure Asset Management Oil & Gas E&P Semiconductors Utilities - Regulated Electric Specialty Retail Diagnostics & Research Capital Markets Packaged Foods Information Technology Services Specialty Chemicals Aerospace & Defense Building Materials Insurance - Property & Casualty Medical Instruments & Supplies

Keywords: S&P 500 Nasdaq 100 Computing Natural Gas Insurance Banking Electronics Bank Chemical Aerospace Medicine Electricity Mining Telecommunications Semiconductor Dow Jones Component IBD 50 Insurance Products Biotechnology Building Materials

VCEB: Top Represented Industries & Keywords

Industries: Banks - Global Drug Manufacturers - Major Banks - Regional - US Semiconductors Packaged Foods Business Services Credit Services Asset Management Chemicals Diagnostics & Research Diversified Industrials Medical Devices Specialty Retail Telecom Services Capital Markets Health Care Plans Insurance - Diversified Insurance - Life Software - Application Beverages - Soft Drinks

Keywords: S&P 500 Nasdaq 100 Bank Dow Jones Component Insurance Banking Computing Investment Bank Financial Products Cash Management Commercial Banking Medicine Insurance Products Real Estate Investment Trust Disability Investment Management Asset Management Services Investment Banking Telecommunications Electronics