AVLC vs. VCIT ETF Comparison

Comparison of Avantis U.S. Large Cap Equity ETF (AVLC) to Vanguard Intermediate-Term Corporate Bond ETF (VCIT)

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

$68.99

Average Daily Volume

18,947

Number of Holdings ^*

975

* may have additional holdings in another (foreign) market

VCIT

Vanguard Intermediate-Term Corporate Bond ETF

VCIT Description

The investment seeks to track the performance of a market-weighted corporate bond index with an intermediate-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 5-10 Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 5 and 10 years. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$80.57

Average Daily Volume

6,660,767

Number of Holdings ^*

488

* may have additional holdings in another (foreign) market

Performance

Period	AVLC	VCIT
30 Days	3.03%	-1.90%
60 Days	7.23%	-2.86%
90 Days	8.29%	-0.93%
12 Months	33.04%	9.85%

380 Overlapping Holdings

	Symbol	Grade	Weight in AVLC	Weight in VCIT	Overlap
	A	F	0.06%	0.02%	0.02%
	AAL	B	0.01%	0.01%	0.01%
	AAPL	C	5.32%	0.01%	0.01%
	ABBV	F	0.45%	0.13%	0.13%
	ABT	C	0.2%	0.02%	0.02%
	ACGL	C	0.14%	0.03%	0.03%
	ADBE	C	0.31%	0.05%	0.05%
	ADI	D	0.16%	0.04%	0.04%
	ADM	F	0.11%	0.05%	0.05%
	ADP	A	0.36%	0.04%	0.04%
	ADSK	B	0.09%	0.03%	0.03%
	AEE	B	0.08%	0.01%	0.01%
	AEP	D	0.14%	0.01%	0.01%
	AES	F	0.06%	0.02%	0.02%
	AFG	A	0.06%	0.02%	0.02%
	AFL	C	0.19%	0.01%	0.01%
	AGO	B	0.0%	0.03%	0.0%
	AGR	C	0.01%	0.04%	0.01%
	AIG	B	0.21%	0.02%	0.02%
	AIZ	A	0.05%	0.02%	0.02%
	AL	B	0.01%	0.01%	0.01%
	ALL	B	0.19%	0.02%	0.02%
	ALLE	D	0.02%	0.02%	0.02%
	AMAT	F	0.38%	0.04%	0.04%
	AMCR	D	0.02%	0.01%	0.01%
	AMG	B	0.0%	0.04%	0.0%
	AMGN	F	0.21%	0.01%	0.01%
	AMZN	A	2.98%	0.09%	0.09%
	AN	C	0.01%	0.02%	0.01%
	AON	B	0.09%	0.01%	0.01%
	APD	B	0.22%	0.02%	0.02%
	APH	B	0.13%	0.02%	0.02%
	APTV	F	0.04%	0.01%	0.01%
	ARW	F	0.05%	0.03%	0.03%
	ATO	B	0.05%	0.02%	0.02%
	AVGO	C	1.18%	0.01%	0.01%
	AVY	F	0.03%	0.02%	0.02%
	AWK	D	0.03%	0.02%	0.02%
	AXP	B	0.4%	0.11%	0.11%
	AXS	A	0.05%	0.01%	0.01%
	AYI	A	0.04%	0.03%	0.03%
	AZN	F	0.02%	0.05%	0.02%
	AZO	B	0.05%	0.03%	0.03%
	BA	F	0.06%	0.03%	0.03%
	BAC	A	0.41%	0.01%	0.01%
	BAX	F	0.02%	0.02%	0.02%
	BBY	C	0.12%	0.02%	0.02%
	BC	D	0.02%	0.03%	0.02%
	BDX	F	0.05%	0.03%	0.03%
	BEN	C	0.01%	0.04%	0.01%
	BERY	D	0.01%	0.03%	0.01%
	BG	D	0.08%	0.03%	0.03%
	BIIB	F	0.03%	0.07%	0.03%
	BK	B	0.18%	0.01%	0.01%
	BKNG	A	0.13%	0.03%	0.03%
	BMY	B	0.17%	0.03%	0.03%
	BR	A	0.04%	0.04%	0.04%
	BRO	B	0.02%	0.02%	0.02%
	BSX	A	0.12%	0.01%	0.01%
	BWA	B	0.05%	0.01%	0.01%
	C	B	0.22%	0.02%	0.02%
	CAG	F	0.01%	0.01%	0.01%
	CAH	B	0.03%	0.05%	0.03%
	CARR	C	0.06%	0.04%	0.04%
	CAT	B	0.55%	0.02%	0.02%
	CB	C	0.22%	0.01%	0.01%
	CBOE	D	0.03%	0.02%	0.02%
	CBT	C	0.05%	0.01%	0.01%
	CE	F	0.01%	0.02%	0.01%
	CFG	B	0.08%	0.03%	0.03%
	CHD	A	0.05%	0.02%	0.02%
	CHH	B	0.02%	0.01%	0.01%
	CHRW	A	0.02%	0.03%	0.02%
	CHTR	B	0.05%	0.06%	0.05%
	CI	D	0.07%	0.02%	0.02%
	CINF	A	0.07%	0.02%	0.02%
	CLX	A	0.06%	0.01%	0.01%
	CMA	A	0.06%	0.03%	0.03%
	CMCSA	B	0.38%	0.02%	0.02%
	CME	B	0.11%	0.03%	0.03%
	CMI	A	0.2%	0.04%	0.04%
	CMS	D	0.06%	0.02%	0.02%
	CNA	C	0.0%	0.01%	0.0%
	CNP	B	0.02%	0.02%	0.02%
	COF	B	0.23%	0.03%	0.03%
	COP	C	0.38%	0.01%	0.01%
	COST	B	0.93%	0.07%	0.07%
	CPB	F	0.01%	0.03%	0.01%
	CRM	B	0.4%	0.07%	0.07%
	CSL	B	0.13%	0.03%	0.03%
	CSX	B	0.26%	0.02%	0.02%
	CTAS	B	0.11%	0.05%	0.05%
	CTVA	C	0.08%	0.02%	0.02%
	CVS	F	0.05%	0.02%	0.02%
	CVX	A	0.63%	0.01%	0.01%
	D	D	0.05%	0.01%	0.01%
	DAL	A	0.22%	0.03%	0.03%
	DD	D	0.07%	0.1%	0.07%
	DE	D	0.32%	0.01%	0.01%
	DELL	C	0.06%	0.04%	0.04%
	DFS	B	0.08%	0.01%	0.01%
	DG	F	0.06%	0.03%	0.03%
	DGX	B	0.01%	0.01%	0.01%
	DHI	D	0.12%	0.02%	0.02%
	DHR	F	0.13%	0.04%	0.04%
	DIS	B	0.17%	0.03%	0.03%
	DLTR	F	0.07%	0.07%	0.07%
	DOV	A	0.03%	0.02%	0.02%
	DOW	F	0.15%	0.01%	0.01%
	DOX	C	0.03%	0.03%	0.03%
	DRI	B	0.1%	0.02%	0.02%
	DT	C	0.02%	0.28%	0.02%
	DTE	D	0.07%	0.01%	0.01%
	DUK	D	0.16%	0.01%	0.01%
	DVN	F	0.14%	0.01%	0.01%
	DXC	B	0.0%	0.03%	0.0%
	EA	A	0.06%	0.04%	0.04%
	EBAY	C	0.14%	0.04%	0.04%
	ECL	C	0.06%	0.01%	0.01%
	ED	D	0.09%	0.01%	0.01%
	EFX	F	0.02%	0.03%	0.02%
	EIX	C	0.09%	0.01%	0.01%
	EL	F	0.02%	0.02%	0.02%
	EMN	D	0.05%	0.03%	0.03%
	EMR	A	0.05%	0.01%	0.01%
	EOG	A	0.28%	0.05%	0.05%
	EQH	B	0.09%	0.01%	0.01%
	ES	D	0.02%	0.01%	0.01%
	ETN	B	0.14%	0.03%	0.03%
	ETR	B	0.12%	0.01%	0.01%
	EVRG	A	0.05%	0.01%	0.01%
	EW	F	0.08%	0.03%	0.03%
	EXC	C	0.1%	0.01%	0.01%
	EXP	B	0.08%	0.04%	0.04%
	EXPE	B	0.04%	0.05%	0.04%
	FAF	C	0.03%	0.03%	0.03%
	FANG	C	0.17%	0.04%	0.04%
	FDX	B	0.25%	0.02%	0.02%
	FHN	A	0.04%	0.03%	0.03%
	FIS	B	0.06%	0.03%	0.03%
	FITB	A	0.13%	0.03%	0.03%
	FLEX	B	0.1%	0.03%	0.03%
	FLO	F	0.0%	0.01%	0.0%
	FLS	B	0.02%	0.03%	0.02%
	FMC	F	0.04%	0.03%	0.03%
	FNF	C	0.08%	0.02%	0.02%
	FOXA	A	0.04%	0.03%	0.03%
	FTNT	B	0.19%	0.02%	0.02%
	GD	C	0.05%	0.01%	0.01%
	GE	D	0.19%	0.04%	0.04%
	GILD	B	0.38%	0.01%	0.01%
	GIS	F	0.03%	0.04%	0.03%
	GL	B	0.06%	0.02%	0.02%
	GM	B	0.29%	0.02%	0.02%
	GOOG	C	1.32%	0.01%	0.01%
	GOOGL	C	1.59%	0.04%	0.04%
	GPC	D	0.06%	0.02%	0.02%
	GPN	B	0.01%	0.02%	0.01%
	GS	B	0.43%	0.05%	0.05%
	GXO	B	0.01%	0.02%	0.01%
	H	B	0.01%	0.02%	0.01%
	HAL	C	0.13%	0.06%	0.06%
	HAS	D	0.02%	0.01%	0.01%
	HBAN	A	0.11%	0.02%	0.02%
	HCA	D	0.06%	0.05%	0.05%
	HD	B	0.56%	0.03%	0.03%
	HES	B	0.19%	0.02%	0.02%
	HIG	C	0.19%	0.03%	0.03%
	HII	F	0.04%	0.01%	0.01%
	HON	B	0.14%	0.01%	0.01%
	HPQ	B	0.05%	0.04%	0.04%
	HRB	D	0.04%	0.03%	0.03%
	HRL	F	0.02%	0.01%	0.01%
	HSY	F	0.09%	0.01%	0.01%
	HUBB	C	0.04%	0.01%	0.01%
	HUM	D	0.05%	0.01%	0.01%
	IBM	D	0.27%	0.01%	0.01%
	ICE	C	0.07%	0.03%	0.03%
	IEX	B	0.03%	0.05%	0.03%
	IFF	F	0.06%	0.02%	0.02%
	ILMN	C	0.04%	0.03%	0.03%
	INGR	B	0.07%	0.03%	0.03%
	INTC	C	0.17%	0.05%	0.05%
	INTU	A	0.26%	0.02%	0.02%
	IPG	F	0.01%	0.02%	0.01%
	ITW	B	0.12%	0.04%	0.04%
	JBL	C	0.11%	0.03%	0.03%
	JCI	A	0.04%	0.02%	0.02%
	JEF	B	0.08%	0.02%	0.02%
	JNJ	D	0.6%	0.01%	0.01%
	JNPR	D	0.02%	0.03%	0.02%
	JPM	A	1.17%	0.01%	0.01%
	K	A	0.03%	0.02%	0.02%
	KDP	C	0.05%	0.03%	0.03%
	KEX	A	0.04%	0.03%	0.03%
	KEY	B	0.06%	0.02%	0.02%
	KEYS	C	0.07%	0.03%	0.03%
	KLAC	F	0.22%	0.04%	0.04%
	KMB	D	0.14%	0.02%	0.02%
	KMI	B	0.1%	0.01%	0.01%
	KO	F	0.4%	0.01%	0.01%
	KR	A	0.2%	0.01%	0.01%
	L	A	0.07%	0.04%	0.04%
	LDOS	C	0.03%	0.05%	0.03%
	LEA	F	0.03%	0.02%	0.02%
	LEN	D	0.18%	0.01%	0.01%
	LEN	D	0.01%	0.01%	0.01%
	LH	B	0.04%	0.01%	0.01%
	LHX	B	0.03%	0.01%	0.01%
	LII	B	0.1%	0.02%	0.02%
	LIN	D	0.21%	0.03%	0.03%
	LLY	F	0.78%	0.03%	0.03%
	LMT	D	0.22%	0.04%	0.04%
	LNC	B	0.01%	0.02%	0.01%
	LNT	C	0.03%	0.01%	0.01%
	LOW	B	0.12%	0.01%	0.01%
	LRCX	F	0.37%	0.04%	0.04%
	LUV	B	0.08%	0.01%	0.01%
	LVS	C	0.09%	0.04%	0.04%
	LYB	F	0.12%	0.03%	0.03%
	MA	B	0.65%	0.03%	0.03%
	MAR	A	0.05%	0.01%	0.01%
	MAS	D	0.02%	0.02%	0.02%
	MCD	C	0.16%	0.01%	0.01%
	MCO	C	0.1%	0.02%	0.02%
	MDLZ	F	0.09%	0.02%	0.02%
	MDT	D	0.12%	0.02%	0.02%
	MET	C	0.2%	0.07%	0.07%
	MHK	D	0.05%	0.02%	0.02%
	MKC	D	0.01%	0.01%	0.01%
	MKL	A	0.12%	0.01%	0.01%
	MLM	B	0.14%	0.01%	0.01%
	MMC	D	0.09%	0.04%	0.04%
	MMM	C	0.19%	0.02%	0.02%
	MO	A	0.08%	0.02%	0.02%
	MOS	D	0.05%	0.04%	0.04%
	MPC	D	0.22%	0.04%	0.04%
	MRK	F	0.33%	0.06%	0.06%
	MRO	B	0.11%	0.05%	0.05%
	MRVL	B	0.11%	0.03%	0.03%
	MS	A	0.34%	0.01%	0.01%
	MSFT	C	4.41%	0.23%	0.23%
	MSI	B	0.21%	0.02%	0.02%
	MTB	A	0.11%	0.04%	0.04%
	MU	D	0.2%	0.03%	0.03%
	NDAQ	B	0.02%	0.03%	0.02%
	NEE	D	0.07%	0.01%	0.01%
	NEM	F	0.02%	0.05%	0.02%
	NEU	C	0.01%	0.01%	0.01%
	NFG	D	0.01%	0.01%	0.01%
	NI	A	0.02%	0.03%	0.02%
	NKE	F	0.17%	0.04%	0.04%
	NOC	D	0.05%	0.02%	0.02%
	NOV	C	0.02%	0.02%	0.02%
	NOW	A	0.29%	0.07%	0.07%
	NSC	B	0.22%	0.01%	0.01%
	NTAP	D	0.07%	0.03%	0.03%
	NTRS	A	0.11%	0.02%	0.02%
	NUE	D	0.17%	0.02%	0.02%
	NVDA	A	4.93%	0.06%	0.06%
	NVR	D	0.1%	0.05%	0.05%
	NVT	C	0.02%	0.02%	0.02%
	NXPI	F	0.08%	0.03%	0.03%
	OC	A	0.1%	0.02%	0.02%
	OGE	B	0.04%	0.01%	0.01%
	OKE	A	0.19%	0.01%	0.01%
	OMC	A	0.02%	0.03%	0.02%
	ORCL	A	0.42%	0.02%	0.02%
	ORLY	A	0.07%	0.01%	0.01%
	OSK	B	0.02%	0.02%	0.02%
	OTIS	D	0.04%	0.04%	0.04%
	PCG	A	0.13%	0.01%	0.01%
	PEG	C	0.09%	0.01%	0.01%
	PEP	D	0.27%	0.02%	0.02%
	PFE	F	0.15%	0.03%	0.03%
	PFG	C	0.09%	0.02%	0.02%
	PG	C	0.39%	0.04%	0.04%
	PGR	A	0.45%	0.01%	0.01%
	PH	A	0.09%	0.05%	0.05%
	PHM	D	0.12%	0.03%	0.03%
	PKG	B	0.12%	0.02%	0.02%
	PM	B	0.18%	0.02%	0.02%
	PNC	B	0.22%	0.01%	0.01%
	PNR	A	0.01%	0.01%	0.01%
	PNW	A	0.05%	0.01%	0.01%
	PPG	F	0.05%	0.02%	0.02%
	PRU	B	0.18%	0.02%	0.02%
	PSX	C	0.19%	0.04%	0.04%
	PWR	B	0.09%	0.05%	0.05%
	PYPL	A	0.3%	0.05%	0.05%
	QCOM	F	0.52%	0.05%	0.05%
	QRVO	F	0.02%	0.05%	0.02%
	R	B	0.05%	0.02%	0.02%
	REGN	F	0.14%	0.06%	0.06%
	RF	A	0.08%	0.03%	0.03%
	RGA	A	0.07%	0.03%	0.03%
	RJF	A	0.11%	0.07%	0.07%
	RL	B	0.06%	0.03%	0.03%
	RNR	D	0.08%	0.01%	0.01%
	ROK	B	0.04%	0.01%	0.01%
	ROP	A	0.09%	0.03%	0.03%
	ROST	D	0.22%	0.02%	0.02%
	RPM	A	0.1%	0.03%	0.03%
	RPRX	F	0.03%	0.02%	0.02%
	RS	C	0.07%	0.02%	0.02%
	RSG	B	0.03%	0.01%	0.01%
	RTX	D	0.16%	0.01%	0.01%
	SBUX	B	0.09%	0.02%	0.02%
	SCHW	B	0.2%	0.01%	0.01%
	SF	A	0.04%	0.02%	0.02%
	SHW	A	0.14%	0.02%	0.02%
	SJM	F	0.01%	0.03%	0.01%
	SLB	C	0.09%	0.05%	0.05%
	SNA	A	0.08%	0.01%	0.01%
	SNX	C	0.04%	0.03%	0.03%
	SO	D	0.12%	0.02%	0.02%
	SON	F	0.02%	0.03%	0.02%
	SPGI	C	0.09%	0.02%	0.02%
	SRE	B	0.07%	0.03%	0.03%
	STE	D	0.04%	0.05%	0.04%
	STLD	C	0.13%	0.02%	0.02%
	STT	B	0.1%	0.01%	0.01%
	STZ	D	0.05%	0.02%	0.02%
	SWK	F	0.02%	0.03%	0.02%
	SWKS	F	0.07%	0.03%	0.03%
	SWX	B	0.02%	0.01%	0.01%
	SYF	B	0.15%	0.03%	0.03%
	SYK	A	0.11%	0.02%	0.02%
	SYY	D	0.07%	0.05%	0.05%
	T	A	0.42%	0.05%	0.05%
	TDY	B	0.03%	0.03%	0.03%
	TFC	B	0.19%	0.02%	0.02%
	TGT	C	0.28%	0.02%	0.02%
	TJX	A	0.43%	0.01%	0.01%
	TKR	F	0.03%	0.02%	0.02%
	TMO	F	0.15%	0.03%	0.03%
	TMUS	A	0.3%	0.09%	0.09%
	TRMB	B	0.02%	0.03%	0.02%
	TSCO	D	0.18%	0.03%	0.03%
	TSN	B	0.04%	0.06%	0.04%
	TT	B	0.13%	0.03%	0.03%
	TXN	B	0.28%	0.02%	0.02%
	TXT	D	0.05%	0.01%	0.01%
	UAL	A	0.18%	0.01%	0.01%
	UHS	D	0.06%	0.04%	0.04%
	UNH	B	0.36%	0.01%	0.01%
	UNM	A	0.05%	0.02%	0.02%
	UNP	D	0.48%	0.02%	0.02%
	UPS	C	0.19%	0.03%	0.03%
	URI	B	0.2%	0.04%	0.04%
	USB	B	0.22%	0.01%	0.01%
	V	A	0.58%	0.03%	0.03%
	VFC	C	0.04%	0.03%	0.03%
	VLO	C	0.16%	0.03%	0.03%
	VMC	B	0.05%	0.02%	0.02%
	VNT	C	0.01%	0.03%	0.01%
	VOYA	B	0.03%	0.02%	0.02%
	VRSK	A	0.12%	0.06%	0.06%
	VRSN	C	0.02%	0.04%	0.02%
	VTRS	B	0.09%	0.04%	0.04%
	VZ	D	0.44%	0.04%	0.04%
	WAB	B	0.04%	0.04%	0.04%
	WBA	D	0.0%	0.02%	0.0%
	WBS	A	0.05%	0.02%	0.02%
	WEC	B	0.04%	0.01%	0.01%
	WFC	A	0.53%	0.01%	0.01%
	WHR	B	0.0%	0.01%	0.0%
	WLK	F	0.03%	0.01%	0.01%
	WM	A	0.12%	0.01%	0.01%
	WMB	B	0.29%	0.01%	0.01%
	WMT	A	0.63%	0.01%	0.01%
	WTFC	B	0.05%	0.01%	0.01%
	WTRG	C	0.01%	0.03%	0.01%
	XEL	A	0.11%	0.01%	0.01%
	XOM	B	1.04%	0.01%	0.01%
	XRAY	F	0.0%	0.04%	0.0%
	XYL	F	0.04%	0.02%	0.02%
	ZBH	C	0.05%	0.05%	0.05%
	ZION	B	0.05%	0.03%	0.03%
	ZTS	D	0.2%	0.02%	0.02%

AVLC Overweight 595 Positions Relative to VCIT

	Symbol	Grade	Weight
	META	B	2.31%
	TSLA	B	0.7%
	BRK.A	B	0.66%
	NFLX	A	0.47%
	MELI	D	0.36%
	AMD	F	0.34%
	ACN	B	0.31%
	CSCO	A	0.3%
	TRV	B	0.26%
	AMP	A	0.26%
	TRGP	B	0.26%
	RCL	A	0.26%
	VRTX	B	0.25%
	PCAR	B	0.24%
	GWW	B	0.23%
	CMG	B	0.23%
	LNG	B	0.22%
	FCX	F	0.21%
	F	C	0.2%
	FAST	B	0.2%
	CL	F	0.18%
	PANW	B	0.18%
	BKR	B	0.18%
	PAYX	B	0.17%
	ANET	C	0.17%
	ISRG	A	0.17%
	DECK	B	0.16%
	APO	B	0.16%
	PLTR	B	0.16%
	EME	B	0.15%
	LULU	B	0.15%
	OXY	F	0.15%
	KKR	B	0.15%
	GEV	B	0.14%
	ELV	F	0.14%
	APP	B	0.14%
	ODFL	B	0.14%
	VRT	B	0.13%
	ON	F	0.13%
	TPL	B	0.13%
	IP	B	0.13%
	CDNS	B	0.12%
	CPNG	B	0.12%
	SNPS	C	0.12%
	WSM	F	0.12%
	FCNCA	B	0.12%
	CEG	D	0.12%
	CTSH	A	0.12%
	CCL	B	0.12%
	VST	B	0.12%
	ULTA	C	0.11%
	IDXX	F	0.11%
	BURL	C	0.11%
	FSLR	F	0.11%
	SFM	B	0.11%
	CTRA	B	0.1%
	UBER	F	0.1%
	LPLA	A	0.1%
	TROW	A	0.1%
	FIX	B	0.1%
	UTHR	B	0.1%
	SW	B	0.1%
	CRWD	B	0.1%
	BX	A	0.1%
	EQT	B	0.1%
	CVNA	B	0.09%
	EXPD	C	0.09%
	IT	B	0.09%
	COR	B	0.09%
	TXRH	A	0.09%
	CPRT	A	0.09%
	GLW	B	0.09%
	CF	B	0.09%
	GRMN	A	0.09%
	WDAY	B	0.08%
	POOL	D	0.08%
	JBHT	C	0.08%
	ABNB	C	0.08%
	BJ	B	0.08%
	DKS	D	0.08%
	TPR	A	0.08%
	CNC	F	0.08%
	HPE	B	0.08%
	EWBC	B	0.08%
	NCLH	B	0.08%
	FTI	B	0.08%
	CASY	B	0.08%
	MCK	B	0.07%
	PAYC	B	0.07%
	WCC	B	0.07%
	WRB	B	0.07%
	SAIA	B	0.07%
	PPL	A	0.07%
	MUSA	B	0.07%
	MSTR	B	0.07%
	JXN	C	0.07%
	WMS	F	0.07%
	TOL	B	0.07%
	TDG	D	0.07%
	FI	A	0.07%
	MLI	B	0.07%
	PRI	B	0.07%
	BLDR	C	0.07%
	FICO	B	0.07%
	COIN	B	0.07%
	GDDY	B	0.07%
	MOH	F	0.07%
	EG	D	0.07%
	OVV	C	0.07%
	RMD	C	0.07%
	CRBG	C	0.06%
	COKE	C	0.06%
	NRG	C	0.06%
	WAL	B	0.06%
	PR	C	0.06%
	TTD	B	0.06%
	BWXT	B	0.06%
	VLTO	D	0.06%
	LNTH	F	0.06%
	KVUE	A	0.06%
	MPWR	F	0.06%
	ATI	F	0.06%
	SQ	B	0.06%
	GNRC	B	0.06%
	ALLY	C	0.06%
	MANH	C	0.06%
	SPOT	A	0.06%
	LECO	C	0.06%
	DASH	A	0.06%
	DCI	A	0.06%
	GPK	D	0.06%
	BALL	D	0.06%
	PFGC	B	0.06%
	LPX	A	0.06%
	ANF	C	0.06%
	CBRE	B	0.06%
	VMI	B	0.05%
	ENSG	C	0.05%
	AJG	A	0.05%
	HUBS	B	0.05%
	JLL	C	0.05%
	SNOW	C	0.05%
	RHI	B	0.05%
	CROX	F	0.05%
	MTDR	B	0.05%
	WFRD	F	0.05%
	KHC	F	0.05%
	WST	B	0.05%
	VEEV	B	0.05%
	SKX	F	0.05%
	DOCU	B	0.05%
	MKTX	C	0.05%
	KMX	B	0.05%
	TEAM	B	0.05%
	ALV	C	0.05%
	HOOD	B	0.05%
	HWM	B	0.05%
	AIT	A	0.05%
	AME	A	0.05%
	IR	A	0.05%
	KNSL	C	0.05%
	GGG	B	0.05%
	WAT	B	0.05%
	WSO	B	0.05%
	DDOG	B	0.05%
	TER	F	0.05%
	FYBR	D	0.05%
	UFPI	B	0.05%
	CHRD	D	0.05%
	FND	F	0.05%
	HLT	A	0.05%
	CDW	F	0.05%
	MCHP	F	0.05%
	ATR	A	0.05%
	CIVI	D	0.04%
	AWI	B	0.04%
	AKAM	F	0.04%
	AA	C	0.04%
	CPAY	A	0.04%
	EVR	B	0.04%
	NBIX	C	0.04%
	AOS	F	0.04%
	SSD	F	0.04%
	SOFI	B	0.04%
	ALNY	D	0.04%
	KNX	C	0.04%
	DINO	D	0.04%
	AGCO	F	0.04%
	XPO	B	0.04%
	YUM	B	0.04%
	CLF	F	0.04%
	CMC	B	0.04%
	IQV	F	0.04%
	WCN	A	0.04%
	NET	B	0.04%
	JAZZ	B	0.04%
	KD	A	0.04%
	TYL	B	0.04%
	MTG	C	0.04%
	FN	C	0.04%
	AXON	B	0.04%
	CRUS	F	0.04%
	PSTG	D	0.04%
	TREX	C	0.04%
	ITT	A	0.04%
	NSIT	F	0.04%
	RRC	B	0.04%
	ALGN	D	0.04%
	AXTA	A	0.04%
	EPAM	B	0.04%
	CSGP	F	0.04%
	TAP	B	0.04%
	CBSH	A	0.04%
	CRS	B	0.04%
	CLH	B	0.04%
	KBH	D	0.04%
	GAP	B	0.04%
	FDS	A	0.04%
	LSTR	B	0.04%
	JKHY	C	0.04%
	AAON	B	0.04%
	MSCI	B	0.04%
	ZM	B	0.04%
	CHX	C	0.04%
	OMF	A	0.04%
	CFR	B	0.04%
	ORI	A	0.04%
	ANSS	B	0.04%
	DXCM	C	0.04%
	LAD	B	0.03%
	TFX	F	0.03%
	ERIE	F	0.03%
	DY	C	0.03%
	GWRE	A	0.03%
	BCC	B	0.03%
	MOD	D	0.03%
	RLI	A	0.03%
	SCI	B	0.03%
	RIVN	F	0.03%
	GMED	B	0.03%
	PODD	B	0.03%
	ZS	B	0.03%
	BLD	F	0.03%
	IBP	F	0.03%
	ROL	C	0.03%
	COHR	C	0.03%
	FFIV	B	0.03%
	PEGA	B	0.03%
	ENLC	A	0.03%
	NWSA	B	0.03%
	MDB	C	0.03%
	OLN	F	0.03%
	ZBRA	B	0.03%
	HALO	C	0.03%
	NU	B	0.03%
	UHAL	D	0.03%
	HLNE	B	0.03%
	CTLT	D	0.03%
	NYT	C	0.03%
	WWD	B	0.03%
	MTZ	B	0.03%
	EXPO	D	0.03%
	BMRN	F	0.03%
	GNTX	C	0.03%
	HOLX	D	0.03%
	ESNT	D	0.03%
	TTWO	A	0.03%
	SATS	D	0.03%
	EHC	B	0.03%
	MUR	D	0.03%
	AM	B	0.03%
	PVH	C	0.03%
	X	D	0.03%
	AR	B	0.03%
	SEIC	A	0.03%
	MRNA	F	0.03%
	PTC	B	0.03%
	EXEL	B	0.03%
	CW	C	0.03%
	ALK	A	0.03%
	BPOP	C	0.03%
	STX	D	0.03%
	INCY	B	0.03%
	RGLD	C	0.03%
	MAT	C	0.03%
	CIEN	B	0.03%
	WBD	B	0.03%
	PNFP	B	0.03%
	SSB	B	0.03%
	GEHC	D	0.03%
	MNST	B	0.03%
	TWLO	B	0.03%
	MTD	F	0.03%
	WDC	D	0.03%
	CVLT	B	0.03%
	APA	F	0.03%
	ONB	B	0.03%
	TTC	F	0.03%
	BAH	C	0.03%
	SNV	B	0.03%
	DTM	A	0.03%
	ITCI	B	0.02%
	EXLS	B	0.02%
	LANC	C	0.02%
	PCTY	B	0.02%
	FIVE	F	0.02%
	AUR	D	0.02%
	DPZ	C	0.02%
	ROIV	D	0.02%
	MSA	D	0.02%
	CGNX	C	0.02%
	FRPT	B	0.02%
	INSM	C	0.02%
	PPC	C	0.02%
	RBC	B	0.02%
	OKTA	C	0.02%
	CELH	F	0.02%
	DOCS	B	0.02%
	MDU	D	0.02%
	TOST	A	0.02%
	VKTX	F	0.02%
	TRU	D	0.02%
	ARMK	B	0.02%
	HOMB	A	0.02%
	LNW	F	0.02%
	FCN	F	0.02%
	ROKU	C	0.02%
	FSS	C	0.02%
	SMCI	F	0.02%
	OZK	B	0.02%
	ALSN	B	0.02%
	NTRA	B	0.02%
	DAR	B	0.02%
	WTW	A	0.02%
	SIGI	B	0.02%
	HLI	B	0.02%
	BMI	B	0.02%
	Z	B	0.02%
	GLOB	B	0.02%
	ARES	B	0.02%
	LYV	A	0.02%
	JHG	A	0.02%
	FE	D	0.02%
	CHE	D	0.02%
	ONTO	F	0.02%
	MMSI	B	0.02%
	SN	C	0.02%
	MOG.A	B	0.02%
	OLED	F	0.02%
	CNM	D	0.02%
	BRKR	F	0.02%
	TECH	D	0.02%
	CCK	D	0.02%
	FOX	A	0.02%
	OLLI	C	0.02%
	LW	B	0.02%
	LFUS	D	0.02%
	COOP	B	0.02%
	CSWI	B	0.02%
	CG	B	0.02%
	FBIN	F	0.02%
	MGY	B	0.02%
	ENTG	F	0.02%
	MTH	D	0.02%
	FLR	C	0.02%
	HESM	C	0.02%
	QLYS	B	0.02%
	TW	B	0.02%
	CADE	B	0.02%
	MASI	B	0.02%
	IVZ	B	0.02%
	RVTY	C	0.02%
	PCVX	D	0.02%
	THC	B	0.02%
	TMHC	B	0.02%
	G	B	0.02%
	RVMD	C	0.02%
	IBKR	A	0.02%
	TPX	B	0.02%
	PB	B	0.02%
	M	C	0.02%
	ACM	B	0.02%
	CHDN	B	0.02%
	NTNX	B	0.02%
	GME	C	0.02%
	LBRDK	C	0.02%
	AMKR	F	0.02%
	PINS	F	0.02%
	MEDP	D	0.02%
	AFRM	B	0.02%
	LYFT	B	0.01%
	SEE	C	0.01%
	BPMC	C	0.01%
	PAG	B	0.01%
	GFS	C	0.01%
	RMBS	C	0.01%
	IONS	F	0.01%
	SNAP	C	0.01%
	ZG	B	0.01%
	CFLT	B	0.01%
	CHWY	B	0.01%
	ADTN	B	0.01%
	TNET	C	0.01%
	GTLS	B	0.01%
	SMMT	D	0.01%
	BBWI	C	0.01%
	RRX	B	0.01%
	CYTK	C	0.01%
	RGEN	C	0.01%
	PI	D	0.01%
	NPAB	F	0.01%
	LCID	F	0.01%
	BILL	B	0.01%
	CWEN	D	0.01%
	EXAS	F	0.01%
	VAL	D	0.01%
	VERX	B	0.01%
	DKNG	B	0.01%
	UI	B	0.01%
	SUM	B	0.01%
	ALTR	C	0.01%
	PEN	C	0.01%
	NOVT	C	0.01%
	WYNN	C	0.01%
	CACC	D	0.01%
	U	F	0.01%
	NDSN	B	0.01%
	PATH	C	0.01%
	TDW	F	0.01%
	BRBR	A	0.01%
	HEI	A	0.01%
	NWS	B	0.01%
	PCOR	B	0.01%
	ZETA	F	0.01%
	HQY	B	0.01%
	HXL	F	0.01%
	BROS	B	0.01%
	FOUR	B	0.01%
	AVAV	C	0.01%
	PSN	C	0.01%
	ESAB	B	0.01%
	MTN	C	0.01%
	MORN	B	0.01%
	DDS	B	0.01%
	ESTC	C	0.01%
	GTLB	B	0.01%
	DLB	D	0.01%
	HSIC	F	0.01%
	ACHC	F	0.01%
	KRYS	C	0.01%
	CWST	B	0.01%
	NXST	C	0.01%
	MKSI	C	0.01%
	SSNC	C	0.01%
	DUOL	A	0.01%
	MARA	B	0.01%
	LKQ	C	0.01%
	DBX	B	0.01%
	SOLV	C	0.01%
	VRNS	C	0.01%
	MTCH	F	0.01%
	CWAN	B	0.01%
	RRR	F	0.01%
	LSCC	D	0.01%
	BECN	B	0.01%
	APPF	B	0.01%
	USFD	B	0.01%
	BSY	F	0.01%
	BOKF	B	0.01%
	J	D	0.01%
	CACI	C	0.01%
	RYAN	B	0.01%
	ATKR	C	0.01%
	IDA	A	0.01%
	PARA	B	0.01%
	OGN	F	0.01%
	RBLX	B	0.01%
	AVTR	F	0.01%
	KBR	D	0.01%
	SRPT	F	0.01%
	LEVI	F	0.01%
	AZEK	B	0.01%
	MGM	D	0.01%
	WEX	D	0.01%
	CRL	C	0.01%
	XP	F	0.01%
	MTSI	B	0.01%
	BCPC	B	0.01%
	BYD	A	0.01%
	MIDD	D	0.01%
	WTS	B	0.01%
	SPSC	F	0.01%
	PLNT	A	0.01%
	DVA	C	0.01%
	LUMN	C	0.01%
	GKOS	B	0.01%
	VVV	B	0.01%
	SMAR	A	0.01%
	ZWS	B	0.01%
	TTEK	F	0.01%
	WING	D	0.01%
	BIO	C	0.01%
	IOT	B	0.01%
	PFSI	D	0.01%
	ALB	C	0.01%
	FTV	C	0.01%
	SITE	D	0.01%
	PBF	F	0.01%
	SM	C	0.01%
	CR	B	0.01%
	WH	A	0.01%
	WSC	F	0.01%
	THO	B	0.01%
	ELAN	C	0.01%
	ENPH	F	0.01%
	MDGL	C	0.01%
	S	B	0.01%
	NVST	C	0.0%
	TPG	B	0.0%
	CRSP	D	0.0%
	WOLF	F	0.0%
	RARE	F	0.0%
	HIMS	C	0.0%
	EMBC	C	0.0%
	KLG	F	0.0%
	COTY	D	0.0%
	AGL	F	0.0%
	FG	B	0.0%
	SEDG	F	0.0%
	CNXC	F	0.0%
	FFIN	B	0.0%
	RNA	B	0.0%
	IMVT	D	0.0%
	SPB	A	0.0%
	SIRI	C	0.0%
	TXG	F	0.0%
	SAM	B	0.0%
	BRZE	C	0.0%
	UGI	D	0.0%
	CRVL	B	0.0%
	GBCI	B	0.0%
	BBIO	F	0.0%
	UHAL	D	0.0%
	APLS	F	0.0%
	IPGP	C	0.0%
	FNB	B	0.0%
	INFA	F	0.0%
	ALKS	C	0.0%
	FIZZ	C	0.0%
	PLUG	D	0.0%
	ZI	C	0.0%
	CAR	C	0.0%
	TDC	F	0.0%
	RDN	C	0.0%
	CWEN	D	0.0%
	HCP	A	0.0%
	EEFT	C	0.0%
	HRI	C	0.0%
	SNDR	B	0.0%
	WK	B	0.0%
	ALIT	C	0.0%
	TENB	C	0.0%
	FRHC	A	0.0%
	ST	F	0.0%
	OPCH	F	0.0%
	LBRDA	C	0.0%
	W	F	0.0%
	NFE	F	0.0%
	BIRK	F	0.0%
	OWL	B	0.0%
	ESI	B	0.0%
	CRDO	C	0.0%
	CZR	F	0.0%
	INSP	F	0.0%
	MMS	F	0.0%
	ACT	C	0.0%
	COLB	A	0.0%
	POST	D	0.0%
	ETSY	D	0.0%
	REYN	D	0.0%
	TMDX	F	0.0%
	BFAM	F	0.0%
	RDDT	B	0.0%
	NUVL	D	0.0%
	DAY	B	0.0%
	SAIC	D	0.0%
	ALGM	F	0.0%
	RBRK	B	0.0%
	SLGN	B	0.0%
	TKO	D	0.0%
	RH	C	0.0%
	FLUT	A	0.0%
	HEI	A	0.0%
	ELF	C	0.0%
	APG	C	0.0%

AVLC Underweight 109 Positions Relative to VCIT

	Symbol	Grade	Weight
	WIT	B	-0.15%
	DB	D	-0.07%
	BABA	D	-0.07%
	KOF	F	-0.06%
	BMO	A	-0.05%
	ARCC	A	-0.05%
	TD	D	-0.05%
	BHF	B	-0.05%
	NWG	B	-0.05%
	INVH	D	-0.04%
	CNH	D	-0.04%
	PAA	C	-0.04%
	AER	B	-0.04%
	BLK	A	-0.04%
	MPLX	A	-0.04%
	ET	A	-0.04%
	GSK	F	-0.04%
	VOD	F	-0.04%
	KSS	D	-0.03%
	BNS	A	-0.03%
	SBRA	C	-0.03%
	HP	C	-0.03%
	JD	C	-0.03%
	CNO	B	-0.03%
	AAT	B	-0.03%
	BDN	D	-0.03%
	TEL	B	-0.03%
	WB	F	-0.03%
	SCS	B	-0.03%
	HST	D	-0.03%
	O	D	-0.03%
	GLPI	D	-0.03%
	CCI	F	-0.03%
	DLR	C	-0.03%
	AMT	F	-0.03%
	EPD	A	-0.03%
	MUFG	A	-0.03%
	TME	F	-0.02%
	SKT	A	-0.02%
	SITC	F	-0.02%
	SAFE	F	-0.02%
	AVT	C	-0.02%
	BKU	A	-0.02%
	AMH	C	-0.02%
	HR	C	-0.02%
	EPRT	C	-0.02%
	FRT	B	-0.02%
	WU	F	-0.02%
	RYN	F	-0.02%
	NHI	D	-0.02%
	DSS	F	-0.02%
	VNO	C	-0.02%
	FSK	A	-0.02%
	EXR	D	-0.02%
	MCY	B	-0.02%
	PDM	D	-0.02%
	LEG	F	-0.02%
	LAZ	C	-0.02%
	KIM	A	-0.02%
	KRC	C	-0.02%
	REG	A	-0.02%
	PRE	D	-0.02%
	AVB	B	-0.02%
	WPC	F	-0.02%
	EQR	C	-0.02%
	EPR	D	-0.02%
	CP	F	-0.02%
	HUN	F	-0.02%
	BIDU	F	-0.02%
	VTR	C	-0.02%
	ESGR	B	-0.02%
	EQIX	B	-0.02%
	CPT	C	-0.02%
	BXP	D	-0.02%
	GBDC	B	-0.01%
	SAVE	F	-0.01%
	OCSL	D	-0.01%
	PSEC	F	-0.01%
	OGS	B	-0.01%
	KRG	B	-0.01%
	KMT	B	-0.01%
	THG	A	-0.01%
	ADC	A	-0.01%
	KMPR	A	-0.01%
	LXP	D	-0.01%
	OPI	F	-0.01%
	HPP	F	-0.01%
	CUBE	D	-0.01%
	BKH	A	-0.01%
	UDR	C	-0.01%
	PSA	D	-0.01%
	GP	F	-0.01%
	HIW	D	-0.01%
	REXR	F	-0.01%
	AAP	C	-0.01%
	SUI	F	-0.01%
	NNN	F	-0.01%
	OHI	C	-0.01%
	ESS	C	-0.01%
	WELL	B	-0.01%
	MAA	C	-0.01%
	ARE	F	-0.01%
	DOC	C	-0.01%
	SPG	A	-0.01%
	PLD	D	-0.01%
	WY	F	-0.01%
	WEST	D	-0.01%
	BRX	A	-0.01%
	HSBC	B	-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 IBD 50 Dow Jones Component Insurance Products Biotechnology Building Materials

VCIT: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Banks - Regional - US Diversified Industrials REIT - Retail Asset Management Drug Manufacturers - Major Insurance - Property & Casualty Banks - Global Packaged Foods REIT - Office Semiconductors Specialty Chemicals Specialty Retail Business Services Credit Services Insurance - Life REIT - Residential Capital Markets Aerospace & Defense Diagnostics & Research

Keywords: S&P 500 Nasdaq 100 Natural Gas Real Estate Investment Trust Insurance Bank Electricity Dow Jones Component Banking Insurance Products Electronics Computing Aerospace Chemical Investment Bank Mining Plastic Financial Products Beverage Commercial Banking