IWD vs. VFMF ETF Comparison

Comparison of iShares Russell 1000 Value ETF (IWD) to Vanguard U.S. Multifactor ETF (VFMF)

IWD

iShares Russell 1000 Value ETF

IWD Description

The investment seeks to track the investment results of an index composed of large- and mid-capitalization U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell 1000 Value Index (the "underlying index"), which measures the performance of large- and mid-capitalization value sectors of the U.S. equity market. It is a subset of the Russell 1000® Index, which measures the performance of the large-capitalization sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$197.71

Average Daily Volume

1,616,962

Number of Holdings ^*

865

* may have additional holdings in another (foreign) market

VFMF

Vanguard U.S. Multifactor ETF

VFMF Description

The investment seeks to provide long-term capital appreciation by investing in stocks with relatively strong recent performance, strong fundamentals, and low prices relative to fundamentals as determined by the advisor. The fund invests primarily in U.S. common stocks with the potential to generate higher returns relative to the broad U.S. equity market by investing in stocks with relatively strong recent performance, strong fundamentals, and low prices relative to fundamentals as determined by the advisor. Under normal circumstances, at least 80% of the fund's assets will be invested in securities issued by U.S. companies.

Grade (RS Rating)

Last Trade

$139.64

Average Daily Volume

8,764

Number of Holdings ^*

470

* may have additional holdings in another (foreign) market

Performance

Period	IWD	VFMF
30 Days	3.53%	6.72%
60 Days	4.90%	7.63%
90 Days	6.95%	7.99%
12 Months	29.54%	33.84%

190 Overlapping Holdings

	Symbol	Grade	Weight in IWD	Weight in VFMF	Overlap
	ABBV	D	0.65%	0.93%	0.65%
	AFL	B	0.24%	1.08%	0.24%
	AGO	B	0.02%	0.17%	0.02%
	AIG	B	0.19%	1.02%	0.19%
	ALSN	B	0.04%	0.3%	0.04%
	AMAT	F	0.04%	0.78%	0.04%
	AMG	B	0.02%	0.32%	0.02%
	AMKR	D	0.01%	0.2%	0.01%
	AMP	A	0.02%	0.17%	0.02%
	AN	C	0.02%	0.14%	0.02%
	APO	B	0.08%	0.74%	0.08%
	ARW	D	0.02%	0.09%	0.02%
	AXP	A	0.39%	0.82%	0.39%
	AYI	B	0.04%	0.26%	0.04%
	AZO	C	0.02%	0.43%	0.02%
	BAC	A	1.23%	0.16%	0.16%
	BBY	D	0.08%	0.05%	0.05%
	BERY	B	0.03%	0.03%	0.03%
	BG	F	0.05%	0.16%	0.05%
	BJ	A	0.04%	0.05%	0.04%
	BK	A	0.22%	0.98%	0.22%
	BKNG	A	0.04%	0.52%	0.04%
	BLD	D	0.04%	0.19%	0.04%
	BLDR	D	0.07%	0.12%	0.07%
	BOKF	B	0.01%	0.19%	0.01%
	BPOP	B	0.02%	0.67%	0.02%
	BWA	D	0.03%	0.06%	0.03%
	BYD	C	0.02%	0.03%	0.02%
	C	A	0.51%	0.06%	0.06%
	CACI	D	0.04%	0.07%	0.04%
	CAH	B	0.05%	0.53%	0.05%
	CASY	A	0.05%	0.05%	0.05%
	CAT	B	0.63%	0.48%	0.48%
	CBOE	B	0.08%	0.34%	0.08%
	CBSH	A	0.03%	0.34%	0.03%
	CF	B	0.06%	0.16%	0.06%
	CFG	B	0.08%	0.57%	0.08%
	CG	A	0.04%	0.07%	0.04%
	CHRD	D	0.03%	0.15%	0.03%
	CI	F	0.32%	0.5%	0.32%
	CIVI	D	0.01%	0.06%	0.01%
	CL	D	0.13%	0.46%	0.13%
	CNA	B	0.0%	0.07%	0.0%
	CNM	D	0.01%	0.07%	0.01%
	COKE	C	0.03%	0.18%	0.03%
	COP	C	0.51%	0.22%	0.22%
	CR	A	0.03%	0.16%	0.03%
	CRM	B	0.18%	0.19%	0.18%
	CROX	D	0.02%	0.2%	0.02%
	CRUS	D	0.02%	0.06%	0.02%
	CSL	C	0.07%	0.07%	0.07%
	CTAS	B	0.01%	0.07%	0.01%
	CTRA	B	0.07%	0.17%	0.07%
	CTSH	B	0.15%	0.12%	0.12%
	CVX	A	1.08%	0.33%	0.33%
	DASH	A	0.03%	0.05%	0.03%
	DDS	B	0.01%	0.03%	0.01%
	DELL	C	0.12%	0.23%	0.12%
	DHI	D	0.19%	0.26%	0.19%
	DKS	C	0.04%	0.15%	0.04%
	DOX	D	0.04%	0.1%	0.04%
	EBAY	D	0.12%	0.07%	0.07%
	EME	C	0.05%	0.22%	0.05%
	EOG	A	0.3%	0.51%	0.3%
	ESAB	B	0.03%	0.15%	0.03%
	EWBC	A	0.06%	0.59%	0.06%
	EXP	A	0.01%	0.11%	0.01%
	FANG	D	0.13%	0.6%	0.13%
	FCX	D	0.24%	0.26%	0.24%
	FDX	B	0.26%	0.54%	0.26%
	FFIV	B	0.05%	0.02%	0.02%
	FI	A	0.32%	0.51%	0.32%
	FITB	A	0.12%	0.39%	0.12%
	FLO	D	0.02%	0.06%	0.02%
	FNF	B	0.06%	0.23%	0.06%
	FTI	A	0.05%	0.14%	0.05%
	GAP	C	0.02%	0.08%	0.02%
	GILD	C	0.43%	0.43%	0.43%
	GM	B	0.25%	0.44%	0.25%
	GPC	D	0.07%	0.1%	0.07%
	GPK	C	0.03%	0.03%	0.03%
	HCA	F	0.19%	0.82%	0.19%
	HIG	B	0.13%	0.7%	0.13%
	HPE	B	0.11%	0.04%	0.04%
	HPQ	B	0.11%	0.19%	0.11%
	HRB	D	0.03%	0.45%	0.03%
	IBM	C	0.73%	0.61%	0.61%
	INGR	B	0.04%	0.35%	0.04%
	JBL	B	0.05%	0.24%	0.05%
	JEF	A	0.04%	0.19%	0.04%
	JNJ	D	1.45%	0.38%	0.38%
	JPM	A	2.74%	0.72%	0.72%
	JWN	C	0.01%	0.07%	0.01%
	KD	B	0.02%	0.16%	0.02%
	KEX	C	0.03%	0.16%	0.03%
	KMB	D	0.1%	0.59%	0.1%
	KR	B	0.15%	0.73%	0.15%
	LDOS	C	0.08%	0.15%	0.08%
	LEN	D	0.01%	0.19%	0.01%
	LEN	D	0.16%	0.19%	0.16%
	LEN	D	0.16%	0.07%	0.07%
	LEN	D	0.01%	0.07%	0.01%
	LMT	D	0.3%	0.64%	0.3%
	LOPE	B	0.01%	0.06%	0.01%
	LPX	B	0.01%	0.21%	0.01%
	LYB	F	0.08%	0.1%	0.08%
	M	D	0.02%	0.22%	0.02%
	MAN	D	0.01%	0.02%	0.01%
	MCK	B	0.17%	0.71%	0.17%
	MET	A	0.19%	0.05%	0.05%
	MHK	D	0.03%	0.22%	0.03%
	MMM	D	0.23%	0.9%	0.23%
	MO	A	0.37%	0.78%	0.37%
	MPC	D	0.22%	0.83%	0.22%
	MTDR	B	0.02%	0.08%	0.02%
	MTG	C	0.03%	0.71%	0.03%
	NTAP	C	0.05%	0.17%	0.05%
	NUE	C	0.14%	0.13%	0.13%
	NVR	D	0.1%	0.18%	0.1%
	NWS	B	0.01%	0.36%	0.01%
	NXST	C	0.01%	0.04%	0.01%
	OC	A	0.07%	0.44%	0.07%
	OGN	D	0.02%	0.12%	0.02%
	OMF	A	0.02%	0.46%	0.02%
	ORI	A	0.04%	0.45%	0.04%
	OVV	B	0.04%	0.07%	0.04%
	PCAR	B	0.22%	0.13%	0.13%
	PFG	D	0.08%	0.06%	0.06%
	PFGC	B	0.04%	0.15%	0.04%
	PGR	A	0.09%	0.2%	0.09%
	PH	A	0.35%	0.11%	0.11%
	PHM	D	0.1%	0.72%	0.1%
	PINC	B	0.01%	0.18%	0.01%
	PKG	A	0.08%	0.19%	0.08%
	PM	B	0.78%	0.81%	0.78%
	PPC	C	0.01%	0.2%	0.01%
	PR	B	0.03%	0.16%	0.03%
	PRI	A	0.04%	0.28%	0.04%
	PSTG	D	0.01%	0.12%	0.01%
	PSX	C	0.21%	0.27%	0.21%
	PVH	C	0.02%	0.39%	0.02%
	PYPL	B	0.34%	0.15%	0.15%
	QCOM	F	0.04%	0.82%	0.04%
	R	B	0.03%	0.16%	0.03%
	RCL	A	0.14%	0.12%	0.12%
	RL	B	0.03%	0.19%	0.03%
	RMD	C	0.1%	0.15%	0.1%
	RNR	C	0.05%	0.06%	0.05%
	RRC	B	0.03%	0.03%	0.03%
	RS	B	0.07%	0.11%	0.07%
	RTX	C	0.61%	0.36%	0.36%
	SKX	D	0.03%	0.26%	0.03%
	SLM	A	0.02%	0.41%	0.02%
	SN	D	0.02%	0.05%	0.02%
	SNA	A	0.07%	0.15%	0.07%
	SSD	D	0.03%	0.12%	0.03%
	STLD	B	0.08%	0.18%	0.08%
	STT	A	0.11%	0.23%	0.11%
	SWKS	F	0.05%	0.09%	0.05%
	SYF	B	0.1%	0.71%	0.1%
	T	A	0.63%	0.77%	0.63%
	TGT	F	0.27%	0.65%	0.27%
	THC	D	0.06%	0.2%	0.06%
	THO	B	0.02%	0.21%	0.02%
	TJX	A	0.22%	0.42%	0.22%
	TMUS	B	0.44%	0.75%	0.44%
	TNL	A	0.01%	0.15%	0.01%
	TOL	B	0.06%	0.25%	0.06%
	TPR	B	0.05%	0.14%	0.05%
	TT	A	0.24%	0.44%	0.24%
	UA	C	0.01%	0.12%	0.01%
	UHS	D	0.05%	0.1%	0.05%
	UNM	A	0.05%	0.28%	0.05%
	URI	B	0.16%	0.17%	0.16%
	UTHR	C	0.06%	0.37%	0.06%
	VFC	C	0.03%	0.07%	0.03%
	VIRT	B	0.01%	0.23%	0.01%
	VLO	C	0.17%	0.85%	0.17%
	VNT	B	0.02%	0.13%	0.02%
	VTRS	A	0.06%	0.04%	0.04%
	VZ	C	0.68%	0.52%	0.52%
	WCC	B	0.03%	0.12%	0.03%
	WEX	D	0.03%	0.04%	0.03%
	WFC	A	1.01%	1.25%	1.01%
	WMS	D	0.02%	0.07%	0.02%
	WMT	A	1.42%	0.78%	0.78%
	WRB	A	0.07%	0.33%	0.07%
	WSM	B	0.03%	0.28%	0.03%
	WU	D	0.01%	0.06%	0.01%
	XOM	B	2.08%	0.47%	0.47%

IWD Overweight 677 Positions Relative to VFMF

	Symbol	Grade	Weight
	BRK.A	B	3.35%
	UNH	C	1.98%
	PG	A	1.21%
	CSCO	B	0.91%
	ACN	C	0.86%
	LIN	D	0.84%
	DIS	B	0.82%
	ABT	B	0.78%
	MCD	D	0.77%
	TMO	F	0.76%
	CMCSA	B	0.64%
	TXN	C	0.63%
	NEE	D	0.61%
	SPGI	C	0.61%
	LOW	D	0.6%
	BLK	C	0.6%
	GE	D	0.59%
	DHR	F	0.58%
	MS	A	0.57%
	ETN	A	0.56%
	PFE	D	0.55%
	GS	A	0.53%
	BSX	B	0.5%
	HON	B	0.49%
	CB	C	0.45%
	MDT	D	0.44%
	BMY	B	0.44%
	SCHW	B	0.42%
	PLD	D	0.41%
	MU	D	0.41%
	ADI	D	0.4%
	KO	D	0.4%
	INTC	D	0.4%
	SYK	C	0.39%
	DE	A	0.39%
	UPS	C	0.38%
	MMC	B	0.37%
	SO	D	0.37%
	GEV	B	0.35%
	MDLZ	F	0.34%
	DUK	C	0.34%
	ICE	C	0.34%
	CME	A	0.32%
	HD	A	0.32%
	WELL	A	0.32%
	PNC	B	0.32%
	GD	F	0.31%
	EQIX	A	0.31%
	BA	F	0.31%
	USB	A	0.3%
	ELV	F	0.3%
	AMD	F	0.29%
	AON	A	0.29%
	UNP	C	0.29%
	KKR	A	0.28%
	REGN	F	0.28%
	EMR	A	0.28%
	NOC	D	0.27%
	CSX	B	0.27%
	WMB	A	0.27%
	MRVL	B	0.27%
	COF	B	0.27%
	APD	A	0.27%
	CVS	D	0.26%
	CRH	A	0.26%
	MAR	B	0.25%
	OKE	A	0.25%
	BDX	F	0.25%
	SLB	C	0.24%
	TFC	A	0.24%
	CARR	D	0.24%
	DLR	B	0.23%
	SRE	A	0.23%
	ROP	B	0.23%
	NSC	B	0.23%
	AJG	B	0.23%
	CEG	D	0.23%
	TRV	B	0.23%
	VRTX	F	0.23%
	JCI	C	0.22%
	KMI	A	0.21%
	TDG	D	0.21%
	ITW	B	0.2%
	AEP	D	0.2%
	D	C	0.19%
	O	D	0.19%
	FIS	C	0.19%
	CMI	A	0.19%
	MSTR	C	0.19%
	PSA	D	0.18%
	CCI	D	0.18%
	KVUE	A	0.18%
	PRU	A	0.18%
	PEP	F	0.18%
	LHX	C	0.18%
	NEM	D	0.18%
	HWM	A	0.17%
	RSG	A	0.17%
	BKR	B	0.17%
	EA	A	0.17%
	F	C	0.17%
	SPG	B	0.17%
	ALL	A	0.17%
	DFS	B	0.17%
	PEG	A	0.17%
	AME	A	0.17%
	PCG	A	0.17%
	CBRE	B	0.16%
	OTIS	C	0.16%
	IR	B	0.16%
	DAL	C	0.16%
	MSI	B	0.16%
	A	D	0.15%
	FERG	B	0.15%
	STZ	D	0.15%
	CTVA	C	0.15%
	XEL	A	0.15%
	EXC	C	0.15%
	APH	A	0.14%
	NKE	D	0.14%
	GIS	D	0.14%
	KDP	D	0.14%
	MTB	A	0.14%
	ROST	C	0.14%
	GLW	B	0.14%
	CHTR	C	0.14%
	ACGL	D	0.14%
	GRMN	B	0.13%
	NDAQ	A	0.13%
	AVB	B	0.13%
	PWR	A	0.13%
	EW	C	0.13%
	VICI	C	0.13%
	HUM	C	0.13%
	OXY	D	0.13%
	MCHP	D	0.13%
	ED	D	0.13%
	AMGN	D	0.13%
	GEHC	F	0.13%
	MLM	B	0.13%
	WAB	B	0.13%
	DD	D	0.13%
	EXR	D	0.13%
	GPN	B	0.12%
	HLT	A	0.12%
	ROK	B	0.12%
	UAL	A	0.12%
	CNC	D	0.12%
	RJF	A	0.12%
	TTWO	A	0.12%
	IQV	D	0.12%
	WEC	A	0.12%
	DOW	F	0.12%
	ETR	B	0.12%
	EIX	B	0.12%
	WTW	B	0.12%
	SQ	B	0.11%
	VMC	B	0.11%
	DOV	A	0.11%
	KHC	F	0.11%
	EQR	B	0.11%
	ON	D	0.11%
	PPG	F	0.11%
	CSGP	D	0.11%
	ANSS	B	0.11%
	XYL	D	0.11%
	PAYX	C	0.11%
	DTE	C	0.1%
	PPL	B	0.1%
	MTD	D	0.1%
	SBUX	A	0.1%
	ADM	D	0.1%
	HBAN	A	0.1%
	VTR	C	0.1%
	KEYS	A	0.1%
	TROW	B	0.1%
	HAL	C	0.1%
	AWK	D	0.1%
	FTV	C	0.1%
	FCNCA	A	0.1%
	CHD	B	0.1%
	SW	A	0.1%
	IFF	D	0.09%
	WBD	C	0.09%
	WY	D	0.09%
	ZBH	C	0.09%
	YUM	B	0.09%
	CINF	A	0.09%
	BIIB	F	0.09%
	HUBB	B	0.09%
	EQT	B	0.09%
	SBAC	D	0.09%
	LNG	B	0.09%
	FE	C	0.09%
	DVN	F	0.09%
	RF	A	0.09%
	AEE	A	0.09%
	CCL	B	0.09%
	EFX	F	0.09%
	COO	D	0.08%
	LUV	C	0.08%
	CNP	B	0.08%
	LH	C	0.08%
	IP	B	0.08%
	FSLR	F	0.08%
	CMS	C	0.08%
	WDC	D	0.08%
	INVH	D	0.08%
	K	A	0.08%
	ZM	B	0.08%
	HSY	F	0.08%
	NTRS	A	0.08%
	HOOD	B	0.08%
	ILMN	D	0.08%
	EXE	B	0.08%
	STE	F	0.08%
	ES	D	0.08%
	TDY	B	0.08%
	ATO	A	0.08%
	MKL	A	0.07%
	CVNA	B	0.07%
	TRMB	B	0.07%
	MAS	D	0.07%
	IEX	B	0.07%
	PNR	A	0.07%
	J	F	0.07%
	TRU	D	0.07%
	KEY	B	0.07%
	DGX	A	0.07%
	HOLX	D	0.07%
	WSO	A	0.07%
	TSN	B	0.07%
	ARE	D	0.07%
	MAA	B	0.07%
	MKC	D	0.07%
	OMC	C	0.07%
	BALL	D	0.07%
	IBKR	A	0.07%
	MSCI	C	0.07%
	ESS	B	0.07%
	SYY	B	0.06%
	EVRG	A	0.06%
	EXPD	D	0.06%
	VRSN	F	0.06%
	HES	B	0.06%
	APTV	D	0.06%
	IRM	D	0.06%
	NDSN	B	0.06%
	ACM	A	0.06%
	UDR	B	0.06%
	DOC	D	0.06%
	BRO	B	0.06%
	AMCR	D	0.06%
	USFD	A	0.06%
	JBHT	C	0.06%
	L	A	0.06%
	GGG	B	0.06%
	RGA	A	0.06%
	SUI	D	0.06%
	ZBRA	B	0.06%
	LNT	A	0.06%
	SSNC	B	0.06%
	TXT	D	0.06%
	MRO	B	0.06%
	GEN	B	0.06%
	BAX	D	0.06%
	KIM	A	0.06%
	NI	A	0.06%
	DG	F	0.06%
	Z	A	0.05%
	SOFI	A	0.05%
	CDW	F	0.05%
	FDS	B	0.05%
	EMN	D	0.05%
	MRNA	F	0.05%
	JNPR	F	0.05%
	BMRN	D	0.05%
	SCI	B	0.05%
	NVT	B	0.05%
	HST	C	0.05%
	NTNX	A	0.05%
	WPC	D	0.05%
	ALLE	D	0.05%
	ALB	C	0.05%
	BXP	D	0.05%
	EPAM	C	0.05%
	CPT	B	0.05%
	COHR	B	0.05%
	ITT	A	0.05%
	CLH	B	0.05%
	JKHY	D	0.05%
	AMH	D	0.05%
	CAG	D	0.05%
	GLPI	C	0.05%
	CHRW	C	0.05%
	DLTR	F	0.05%
	ELS	C	0.05%
	AFRM	B	0.05%
	SWK	D	0.05%
	AKAM	D	0.05%
	TWLO	A	0.05%
	RPM	A	0.05%
	EG	C	0.05%
	RVTY	F	0.05%
	REG	B	0.05%
	CW	B	0.05%
	VLTO	D	0.05%
	ZTS	D	0.05%
	AVTR	F	0.05%
	TW	A	0.04%
	WST	C	0.04%
	GMED	A	0.04%
	TFX	F	0.04%
	REXR	F	0.04%
	CMA	A	0.04%
	BWXT	B	0.04%
	FBIN	D	0.04%
	DCI	B	0.04%
	RGLD	C	0.04%
	SOLV	C	0.04%
	DRI	B	0.04%
	PNFP	B	0.04%
	EL	F	0.04%
	BRBR	A	0.04%
	FRT	B	0.04%
	CNH	C	0.04%
	CRL	C	0.04%
	COIN	C	0.04%
	MKTX	D	0.04%
	CIEN	B	0.04%
	DPZ	C	0.04%
	GL	B	0.04%
	DTM	B	0.04%
	WAL	B	0.04%
	WTRG	B	0.04%
	ARMK	B	0.04%
	EHC	B	0.04%
	AES	F	0.04%
	NLY	C	0.04%
	AVY	D	0.04%
	OHI	C	0.04%
	AFG	A	0.04%
	GME	C	0.04%
	LAD	A	0.04%
	RPRX	D	0.04%
	DAY	B	0.04%
	LKQ	D	0.04%
	WWD	B	0.04%
	IPG	D	0.04%
	WBS	A	0.04%
	TECH	D	0.04%
	PNW	B	0.04%
	FOXA	B	0.04%
	CCK	C	0.04%
	EVR	B	0.04%
	CTLT	B	0.04%
	CUBE	D	0.04%
	FWONK	B	0.04%
	NWSA	B	0.04%
	FTNT	C	0.04%
	TAP	C	0.04%
	SJM	D	0.04%
	ATR	B	0.04%
	AA	B	0.04%
	FHN	A	0.04%
	RRX	B	0.04%
	NRG	B	0.04%
	INCY	C	0.04%
	KMX	B	0.04%
	SF	B	0.04%
	AIZ	A	0.04%
	COLB	A	0.03%
	CGNX	C	0.03%
	FAF	A	0.03%
	IVZ	B	0.03%
	LSTR	D	0.03%
	BILL	A	0.03%
	OKTA	C	0.03%
	STAG	F	0.03%
	AZPN	A	0.03%
	HR	C	0.03%
	DINO	D	0.03%
	GWW	B	0.03%
	AXS	A	0.03%
	VMI	B	0.03%
	MKSI	C	0.03%
	FMC	D	0.03%
	ALK	C	0.03%
	WH	B	0.03%
	DAR	C	0.03%
	FCN	D	0.03%
	FND	C	0.03%
	MTSI	B	0.03%
	GXO	B	0.03%
	RLI	B	0.03%
	FR	C	0.03%
	ATI	D	0.03%
	ALGN	D	0.03%
	GNTX	C	0.03%
	ELAN	D	0.03%
	OSK	B	0.03%
	BBWI	D	0.03%
	AGNC	D	0.03%
	VNO	B	0.03%
	KBR	F	0.03%
	CART	C	0.03%
	MIDD	C	0.03%
	FAST	B	0.03%
	LBRDK	C	0.03%
	LW	C	0.03%
	PB	A	0.03%
	ROKU	D	0.03%
	CHE	D	0.03%
	MNST	C	0.03%
	RHI	B	0.03%
	JAZZ	B	0.03%
	ADC	B	0.03%
	HII	D	0.03%
	NNN	D	0.03%
	FLS	B	0.03%
	G	B	0.03%
	SHW	A	0.03%
	MTCH	D	0.03%
	ACI	C	0.03%
	CZR	F	0.03%
	SNV	B	0.03%
	X	C	0.03%
	ECL	D	0.03%
	TKO	B	0.03%
	SEIC	B	0.03%
	APG	B	0.03%
	CFR	B	0.03%
	APA	D	0.03%
	LECO	B	0.03%
	LAMR	D	0.03%
	WAT	B	0.03%
	RIVN	F	0.03%
	VOYA	B	0.03%
	CPB	D	0.03%
	FICO	B	0.03%
	EGP	F	0.03%
	NYT	C	0.03%
	MTZ	B	0.03%
	JLL	D	0.03%
	MOS	F	0.03%
	TTC	D	0.03%
	OGE	B	0.03%
	HRL	D	0.03%
	FYBR	D	0.03%
	WTFC	A	0.03%
	WYNN	D	0.03%
	GWRE	A	0.03%
	ALLY	C	0.03%
	ZION	B	0.03%
	BRX	A	0.03%
	TTEK	F	0.03%
	AAL	B	0.03%
	MGM	D	0.03%
	AOS	F	0.03%
	SNX	C	0.03%
	HSIC	B	0.03%
	KNX	B	0.03%
	ADP	B	0.03%
	AR	B	0.03%
	HLI	B	0.03%
	AXTA	A	0.03%
	RBC	A	0.03%
	PTC	A	0.03%
	LINE	F	0.02%
	SITE	D	0.02%
	HOG	D	0.02%
	TPG	A	0.02%
	GTES	A	0.02%
	PAYC	B	0.02%
	GFS	C	0.02%
	DLB	B	0.02%
	WLK	D	0.02%
	KMPR	B	0.02%
	AWI	A	0.02%
	RYN	D	0.02%
	SLGN	A	0.02%
	PSN	D	0.02%
	WSC	D	0.02%
	EEFT	B	0.02%
	DBX	B	0.02%
	KRC	C	0.02%
	CUZ	B	0.02%
	ST	F	0.02%
	FRPT	B	0.02%
	AVT	C	0.02%
	ROIV	C	0.02%
	OLN	D	0.02%
	TKR	D	0.02%
	WTM	A	0.02%
	HXL	D	0.02%
	SON	D	0.02%
	AL	B	0.02%
	UGI	A	0.02%
	BFAM	D	0.02%
	OZK	B	0.02%
	POST	C	0.02%
	CCCS	B	0.02%
	LEA	D	0.02%
	LITE	B	0.02%
	EXAS	D	0.02%
	GNRC	B	0.02%
	ORLY	B	0.02%
	RITM	C	0.02%
	BC	C	0.02%
	NFG	A	0.02%
	OLLI	D	0.02%
	DOCS	C	0.02%
	FOX	A	0.02%
	H	B	0.02%
	JHG	A	0.02%
	SAIA	B	0.02%
	THG	A	0.02%
	AGCO	D	0.02%
	ONTO	D	0.02%
	LNC	B	0.02%
	FNB	A	0.02%
	LFUS	F	0.02%
	IDA	A	0.02%
	WHR	B	0.02%
	RGEN	D	0.02%
	CE	F	0.02%
	S	B	0.02%
	STWD	C	0.02%
	WBA	F	0.02%
	BEN	C	0.02%
	BIO	D	0.02%
	QRVO	F	0.02%
	SAIC	F	0.02%
	COLD	D	0.02%
	ESI	A	0.02%
	NOV	C	0.02%
	SIRI	C	0.02%
	MOH	F	0.02%
	MSA	D	0.02%
	MAT	D	0.02%
	PARA	C	0.02%
	LLYVA	A	0.01%
	SNDR	B	0.01%
	TRIP	F	0.01%
	REYN	D	0.01%
	TER	D	0.01%
	FTRE	D	0.01%
	LEG	F	0.01%
	WEN	D	0.01%
	EXEL	B	0.01%
	GO	C	0.01%
	QS	F	0.01%
	CLVT	F	0.01%
	BIRK	D	0.01%
	ALAB	B	0.01%
	CNXC	F	0.01%
	VSTS	C	0.01%
	CRI	D	0.01%
	QDEL	F	0.01%
	AZEK	A	0.01%
	RKT	F	0.01%
	LBTYK	A	0.01%
	KSS	F	0.01%
	LCID	F	0.01%
	INFA	D	0.01%
	ETSY	D	0.01%
	UAA	C	0.01%
	LBTYA	B	0.01%
	LYFT	C	0.01%
	BRKR	D	0.01%
	IPGP	D	0.01%
	GLOB	B	0.01%
	SHC	F	0.01%
	ADT	C	0.01%
	RCM	F	0.01%
	AAP	C	0.01%
	CWEN	C	0.01%
	AZTA	D	0.01%
	YETI	C	0.01%
	HAYW	B	0.01%
	SAM	C	0.01%
	BR	A	0.01%
	ULTA	F	0.01%
	ALGM	D	0.01%
	SPB	C	0.01%
	MP	B	0.01%
	CPRI	F	0.01%
	HHH	B	0.01%
	ENOV	C	0.01%
	AGR	B	0.01%
	MPW	F	0.01%
	CC	C	0.01%
	CXT	B	0.01%
	COTY	F	0.01%
	SEE	C	0.01%
	COLM	B	0.01%
	ECG	C	0.01%
	U	C	0.01%
	AMED	F	0.01%
	SNRE	D	0.01%
	PAG	B	0.01%
	NSA	D	0.01%
	LLYVK	A	0.01%
	PK	B	0.01%
	IRDM	D	0.01%
	BROS	B	0.01%
	SPR	D	0.01%
	PENN	C	0.01%
	AMTM	D	0.01%
	SMG	D	0.01%
	BHF	B	0.01%
	VAC	B	0.01%
	ZI	D	0.01%
	HUN	F	0.01%
	AM	A	0.01%
	HIW	D	0.01%
	EPR	D	0.01%
	MASI	A	0.01%
	ZG	A	0.01%
	ALNY	D	0.01%
	CPRT	A	0.01%
	PII	D	0.01%
	ACHC	F	0.01%
	FHB	A	0.01%
	CLF	F	0.01%
	UHAL	D	0.01%
	IAC	D	0.01%
	NVST	B	0.01%
	W	F	0.01%
	PRGO	B	0.01%
	VNOM	A	0.01%
	XRAY	F	0.01%
	NWL	B	0.01%
	DNB	B	0.01%
	MDU	D	0.01%
	MSGS	A	0.01%
	NEU	C	0.01%
	RH	B	0.01%
	DXC	B	0.01%
	PLNT	A	0.01%
	OLED	D	0.01%
	TYL	B	0.01%
	MSM	C	0.01%
	ASH	D	0.01%
	LOAR	A	0.0%
	UWMC	D	0.0%
	SEG	B	0.0%
	PARAA	B	0.0%
	NFE	D	0.0%
	UHAL	D	0.0%
	IONS	F	0.0%
	LAZ	B	0.0%
	GRAL	C	0.0%
	TXG	F	0.0%
	CACC	D	0.0%
	PLTK	B	0.0%
	DJT	C	0.0%
	CHH	A	0.0%
	SEB	F	0.0%
	UI	A	0.0%
	TFSL	A	0.0%
	PATH	C	0.0%
	WOLF	F	0.0%
	LSCC	D	0.0%
	FIVE	F	0.0%
	CWEN	C	0.0%
	HCP	B	0.0%
	CAR	C	0.0%
	MTN	C	0.0%
	PYCR	C	0.0%
	HAS	D	0.0%
	FWONA	B	0.0%
	AS	B	0.0%
	CERT	F	0.0%
	DV	C	0.0%
	LBRDA	C	0.0%
	NCNO	B	0.0%

IWD Underweight 282 Positions Relative to VFMF

	Symbol	Grade	Weight
	GOOG	C	-0.9%
	META	D	-0.82%
	MLI	C	-0.71%
	OFG	B	-0.64%
	NVDA	C	-0.63%
	COST	B	-0.52%
	KLAC	D	-0.52%
	BCC	B	-0.52%
	GOOGL	C	-0.5%
	FBP	B	-0.5%
	ANET	C	-0.5%
	MRK	F	-0.46%
	COLL	F	-0.46%
	CNO	A	-0.4%
	AMAL	B	-0.39%
	UFPI	B	-0.37%
	KELYA	F	-0.36%
	ANDE	D	-0.34%
	PRDO	B	-0.34%
	EIG	B	-0.34%
	IBOC	A	-0.34%
	SCS	C	-0.32%
	CPF	A	-0.31%
	NMIH	D	-0.31%
	CASH	A	-0.3%
	NTB	B	-0.3%
	SIG	B	-0.3%
	GIII	D	-0.3%
	ACT	D	-0.29%
	GFF	A	-0.29%
	SRCE	B	-0.28%
	CALM	A	-0.28%
	TK	D	-0.27%
	EAT	A	-0.26%
	TPC	C	-0.26%
	MHO	D	-0.25%
	FCF	A	-0.25%
	PFBC	B	-0.25%
	WSFS	A	-0.24%
	PHIN	A	-0.24%
	ASO	F	-0.24%
	NSIT	F	-0.24%
	CPAY	A	-0.23%
	MLKN	D	-0.23%
	WTTR	B	-0.23%
	WFRD	D	-0.22%
	MBIN	D	-0.22%
	RDN	C	-0.21%
	GNW	A	-0.21%
	SIGA	F	-0.21%
	EQH	B	-0.2%
	CVCO	A	-0.2%
	AX	A	-0.2%
	CAL	D	-0.2%
	SPOT	B	-0.2%
	AMWD	C	-0.2%
	ASC	F	-0.2%
	GMS	B	-0.2%
	AMRX	C	-0.19%
	AHCO	F	-0.19%
	ATGE	B	-0.19%
	HWKN	B	-0.19%
	STNG	F	-0.18%
	VCTR	B	-0.18%
	PLUS	F	-0.18%
	TILE	B	-0.18%
	IMKTA	C	-0.18%
	BELFB	C	-0.18%
	REVG	B	-0.18%
	PATK	D	-0.18%
	TEX	D	-0.18%
	IESC	B	-0.18%
	TMHC	B	-0.18%
	CNOB	B	-0.18%
	BLX	C	-0.18%
	HP	B	-0.18%
	COOP	B	-0.17%
	SKYW	B	-0.17%
	DLX	B	-0.17%
	ALKS	B	-0.17%
	AEO	F	-0.17%
	PLAB	C	-0.17%
	MRC	B	-0.17%
	AIT	A	-0.17%
	COR	B	-0.17%
	WMK	C	-0.16%
	BV	B	-0.16%
	STBA	B	-0.16%
	TBBK	B	-0.16%
	DECK	A	-0.16%
	IDT	B	-0.16%
	FIX	A	-0.16%
	DVA	B	-0.16%
	GNK	D	-0.16%
	OMI	F	-0.16%
	KBH	D	-0.16%
	SFM	A	-0.16%
	SXC	A	-0.16%
	ASB	B	-0.16%
	CRBG	B	-0.15%
	KTB	B	-0.15%
	DHT	F	-0.15%
	CRC	B	-0.15%
	MEDP	D	-0.15%
	SCSC	B	-0.15%
	SLVM	B	-0.15%
	CHCO	B	-0.15%
	WABC	B	-0.14%
	DAKT	B	-0.14%
	CVLT	B	-0.14%
	ETD	C	-0.14%
	NR	B	-0.14%
	CNXN	C	-0.14%
	ABCB	B	-0.14%
	TNK	F	-0.14%
	MCY	A	-0.14%
	BBW	B	-0.14%
	PUMP	B	-0.14%
	MUSA	A	-0.14%
	CMC	B	-0.14%
	ENS	D	-0.14%
	LNTH	D	-0.14%
	HAFC	A	-0.13%
	SPOK	C	-0.13%
	MUR	D	-0.13%
	HBI	B	-0.13%
	EXPE	B	-0.13%
	HCC	B	-0.13%
	SM	B	-0.13%
	TPH	D	-0.13%
	NMRK	B	-0.13%
	INSW	F	-0.12%
	DNOW	B	-0.12%
	PTGX	C	-0.12%
	KNTK	B	-0.12%
	ROCK	C	-0.12%
	BHLB	B	-0.12%
	ZEUS	C	-0.12%
	FIBK	A	-0.12%
	CBU	B	-0.12%
	CPRX	C	-0.12%
	HWC	B	-0.12%
	CYH	F	-0.12%
	IMMR	C	-0.12%
	URBN	C	-0.12%
	AGX	B	-0.12%
	SPTN	D	-0.11%
	SCHL	D	-0.11%
	HALO	F	-0.11%
	LPG	F	-0.11%
	SBSI	B	-0.11%
	CEIX	A	-0.11%
	REX	D	-0.11%
	CNX	A	-0.11%
	AMR	C	-0.11%
	MATX	C	-0.11%
	ITRI	B	-0.1%
	MPWR	F	-0.1%
	GRBK	D	-0.1%
	QCRH	A	-0.1%
	WHD	B	-0.1%
	FLWS	F	-0.1%
	LRN	A	-0.1%
	JXN	C	-0.1%
	VERX	B	-0.1%
	SANM	B	-0.1%
	CDNA	D	-0.1%
	AZZ	B	-0.1%
	CRVL	A	-0.09%
	GRND	A	-0.09%
	APOG	B	-0.09%
	OXM	D	-0.09%
	NAVI	C	-0.09%
	GPOR	B	-0.09%
	WLY	B	-0.09%
	MOG.A	B	-0.09%
	DXPE	B	-0.09%
	JELD	F	-0.09%
	INDB	B	-0.09%
	FDP	B	-0.08%
	PSMT	C	-0.08%
	SFNC	B	-0.08%
	ARCB	C	-0.08%
	SD	D	-0.08%
	HSTM	B	-0.08%
	ACCO	C	-0.08%
	UPBD	B	-0.08%
	DOLE	D	-0.07%
	USAP	B	-0.07%
	DESP	B	-0.07%
	MTUS	C	-0.07%
	ZIMV	D	-0.07%
	PLPC	B	-0.07%
	EPC	D	-0.07%
	BBSI	B	-0.07%
	HIMS	B	-0.07%
	HVT	D	-0.07%
	STRL	B	-0.07%
	NTGR	B	-0.07%
	IDCC	A	-0.07%
	RES	D	-0.07%
	LZB	B	-0.07%
	MTH	D	-0.07%
	FN	D	-0.06%
	NHC	C	-0.06%
	UTI	A	-0.06%
	GOGL	F	-0.06%
	CENTA	C	-0.06%
	JILL	C	-0.06%
	FRME	B	-0.06%
	CATY	B	-0.06%
	HNI	B	-0.06%
	AMZN	C	-0.06%
	NAT	F	-0.06%
	AGM	C	-0.06%
	OSUR	F	-0.05%
	TCBI	B	-0.05%
	GRNT	B	-0.05%
	CLW	F	-0.05%
	NOG	A	-0.05%
	BKE	B	-0.05%
	LBRT	D	-0.05%
	UFPT	B	-0.05%
	SCVL	F	-0.05%
	NX	C	-0.05%
	BTU	B	-0.05%
	ZUMZ	C	-0.05%
	SUPN	C	-0.05%
	CBT	C	-0.05%
	YOU	D	-0.05%
	PRK	B	-0.05%
	MD	B	-0.05%
	ADMA	B	-0.05%
	CRS	A	-0.05%
	LQDT	B	-0.05%
	OSBC	A	-0.05%
	LYTS	B	-0.05%
	SMLR	B	-0.04%
	CTS	C	-0.04%
	HOV	D	-0.04%
	HEES	B	-0.04%
	WGO	C	-0.04%
	GOLF	B	-0.04%
	HSII	B	-0.04%
	STGW	B	-0.04%
	SXI	B	-0.04%
	BKU	A	-0.04%
	KFRC	D	-0.04%
	MCRI	A	-0.04%
	MBUU	C	-0.04%
	MGY	A	-0.04%
	NSSC	D	-0.04%
	TNC	D	-0.04%
	SHOO	D	-0.04%
	GEO	B	-0.04%
	PRMW	C	-0.04%
	EFSC	B	-0.04%
	CRAI	B	-0.04%
	ATEN	B	-0.03%
	GPI	A	-0.03%
	UVSP	B	-0.03%
	BSIG	A	-0.03%
	STRA	C	-0.03%
	PRLB	A	-0.03%
	KMT	B	-0.03%
	MOV	C	-0.03%
	CCRN	F	-0.03%
	HFWA	B	-0.03%
	BRY	F	-0.03%
	EPAC	B	-0.03%
	TPL	A	-0.03%
	TCBK	B	-0.03%
	WNC	C	-0.03%
	INGN	C	-0.02%
	VRA	F	-0.02%
	RGP	F	-0.02%
	ATKR	C	-0.02%
	BUSE	B	-0.02%
	PEBO	A	-0.02%
	SB	F	-0.02%
	ADTN	A	-0.02%
	MBWM	B	-0.02%

IWD: Top Represented Industries & Keywords

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

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

VFMF: Top Represented Industries & Keywords

Industries: Banks - Regional - US Oil & Gas E&P Specialty Retail Residential Construction Shipping & Ports Asset Management Building Materials Oil & Gas Equipment & Services Apparel Manufacturing Credit Services Diversified Industrials Apparel Stores Business Services Electronic Components Software - Application Steel Banks - Global Biotechnology Education & Training Services Engineering & Construction

Keywords: S&P 500 Bank Banking Deposit Products Insurance Clothing Computing Construction Mining Natural Gas Nasdaq 100 Aerospace Building Materials Chemical Retail Store Commercial Banking Electronics Fashion Insurance Products Investment Management