IWR vs. VFH ETF Comparison

Comparison of iShares Russell Mid-Cap ETF (IWR) to Vanguard Financials ETF - DNQ (VFH)

IWR

iShares Russell Mid-Cap ETF

IWR Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities. 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. The underlying index measures the performance of the mid-capitalization sector of the U.S. equity market. The underlying index is a float-adjusted, capitalization-weighted index of the 800 smallest issuers in the Russell 1000Â® Index.

Grade (RS Rating)

Last Trade

$87.95

Average Daily Volume

1,141,867

Number of Holdings ^*

802

* may have additional holdings in another (foreign) market

VFH

Vanguard Financials ETF - DNQ

VFH Description

The investment seeks to track the performance of a benchmark index. The fund employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Index (IMI)/Financials 25/50, an index made up of stocks of large, mid-size, and small U.S. companies within the financials sector, as classified under the Global Industry Classification Standard (GICS). It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$110.74

Average Daily Volume

273,837

Number of Holdings ^*

379

* may have additional holdings in another (foreign) market

Performance

Period	IWR	VFH
30 Days	4.05%	1.54%
60 Days	10.52%	12.12%
90 Days	9.48%	10.68%
12 Months	31.66%	42.45%

115 Overlapping Holdings

Symbol	Grade	Weight in IWR	Weight in VFH	Overlap
ACGL	A	0.35%	0.59%	0.35%
AFG	A	0.08%	0.13%	0.08%
AFL	A	0.54%	0.82%	0.54%
AFRM	C	0.08%	0.14%	0.08%
AGNC	B	0.07%	0.1%	0.07%
AGO	B	0.04%	0.06%	0.04%
AIZ	B	0.09%	0.14%	0.09%
AJG	C	0.53%	0.88%	0.53%
ALL	A	0.43%	0.69%	0.43%
ALLY	F	0.08%	0.16%	0.08%
AMG	B	0.05%	0.08%	0.05%
AMP	A	0.41%	0.62%	0.41%
ARES	A	0.24%	0.38%	0.24%
AXS	A	0.05%	0.09%	0.05%
BEN	F	0.05%	0.08%	0.05%
BHF	D	0.02%	0.04%	0.02%
BK	A	0.45%	0.7%	0.45%
BOKF	B	0.02%	0.04%	0.02%
BPOP	D	0.06%	0.1%	0.06%
BRO	A	0.21%	0.35%	0.21%
CACC	F	0.02%	0.04%	0.02%
CBOE	B	0.19%	0.3%	0.19%
CBSH	D	0.06%	0.11%	0.06%
CFG	C	0.15%	0.27%	0.15%
CFR	B	0.05%	0.1%	0.05%
CG	B	0.08%	0.13%	0.08%
CINF	A	0.18%	0.3%	0.18%
CMA	C	0.06%	0.1%	0.06%
COIN	F	0.28%	0.48%	0.28%
COLB	C	0.05%	0.07%	0.05%
CPAY	A	0.18%	0.29%	0.18%
DFS	A	0.29%	0.48%	0.29%
EEFT	F	0.04%	0.06%	0.04%
EG	A	0.15%	0.24%	0.15%
EQH	B	0.11%	0.19%	0.11%
EVR	C	0.08%	0.12%	0.08%
EWBC	B	0.09%	0.16%	0.09%
FAF	C	0.06%	0.09%	0.06%
FCNCA	D	0.19%	0.29%	0.19%
FDS	C	0.15%	0.22%	0.15%
FHB	D	0.02%	0.04%	0.02%
FHN	D	0.07%	0.13%	0.07%
FIS	A	0.4%	0.63%	0.4%
FITB	C	0.24%	0.4%	0.24%
FNB	D	0.04%	0.07%	0.04%
FNF	C	0.13%	0.21%	0.13%
FOUR	A	0.05%	0.06%	0.05%
GL	C	0.08%	0.13%	0.08%
GPN	F	0.22%	0.39%	0.22%
HBAN	B	0.18%	0.3%	0.18%
HIG	A	0.29%	0.48%	0.29%
HLI	A	0.07%	0.11%	0.07%
HOOD	B	0.13%	0.15%	0.13%
IBKR	A	0.13%	0.18%	0.13%
IVZ	A	0.05%	0.08%	0.05%
JEF	A	0.09%	0.14%	0.09%
JHG	A	0.04%	0.07%	0.04%
JKHY	A	0.11%	0.17%	0.11%
KEY	B	0.13%	0.22%	0.13%
KMPR	D	0.03%	0.06%	0.03%
KNSL	B	0.09%	0.15%	0.09%
L	C	0.12%	0.21%	0.12%
LNC	B	0.04%	0.08%	0.04%
LPLA	D	0.15%	0.23%	0.15%
MKL	B	0.17%	0.29%	0.17%
MKTX	B	0.08%	0.13%	0.08%
MORN	B	0.07%	0.12%	0.07%
MSCI	B	0.38%	0.64%	0.38%
MTB	A	0.25%	0.4%	0.25%
MTG	A	0.06%	0.09%	0.06%
NDAQ	C	0.26%	0.43%	0.26%
NTRS	B	0.15%	0.26%	0.15%
OMF	D	0.04%	0.08%	0.04%
ORI	A	0.08%	0.13%	0.08%
OWL	A	0.08%	0.11%	0.08%
OZK	D	0.04%	0.06%	0.04%
PB	D	0.05%	0.1%	0.05%
PFG	A	0.17%	0.26%	0.17%
PNFP	B	0.06%	0.11%	0.06%
PRI	A	0.08%	0.13%	0.08%
PRU	B	0.37%	0.6%	0.37%
RF	B	0.18%	0.3%	0.18%
RGA	B	0.12%	0.2%	0.12%
RJF	B	0.2%	0.33%	0.2%
RKT	D	0.02%	0.03%	0.02%
RLI	A	0.06%	0.09%	0.06%
RNR	A	0.12%	0.19%	0.12%
RYAN	A	0.06%	0.09%	0.06%
SEIC	B	0.06%	0.1%	0.06%
SF	A	0.08%	0.13%	0.08%
SLM	B	0.04%	0.06%	0.04%
SNV	D	0.05%	0.09%	0.05%
SOFI	C	0.07%	0.11%	0.07%
SQ	D	0.31%	0.51%	0.31%
STT	A	0.22%	0.36%	0.22%
STWD	C	0.05%	0.09%	0.05%
SYF	A	0.17%	0.28%	0.17%
THG	A	0.05%	0.07%	0.05%
TOST	B	0.11%	0.12%	0.11%
TPG	A	0.04%	0.05%	0.04%
TROW	D	0.2%	0.33%	0.2%
TW	A	0.12%	0.19%	0.12%
UNM	A	0.08%	0.15%	0.08%
UWMC	D	0.01%	0.01%	0.01%
VIRT	B	0.02%	0.04%	0.02%
VOYA	A	0.07%	0.1%	0.07%
WAL	C	0.08%	0.12%	0.08%
WBS	D	0.07%	0.11%	0.07%
WEX	C	0.07%	0.11%	0.07%
WRB	C	0.14%	0.25%	0.14%
WTFC	B	0.06%	0.1%	0.06%
WTM	C	0.04%	0.07%	0.04%
WTW	C	0.26%	0.41%	0.26%
WU	D	0.03%	0.06%	0.03%
ZION	D	0.06%	0.1%	0.06%

IWR Overweight 687 Positions Relative to VFH

Symbol	Grade	Weight
PLTR	A	0.63%
DHI	C	0.49%
WMB	A	0.48%
HLT	A	0.48%
SPG	A	0.47%
O	C	0.47%
URI	C	0.46%
OKE	A	0.46%
DLR	C	0.44%
CCI	D	0.44%
ROST	D	0.42%
TTD	A	0.41%
LHX	A	0.4%
PEG	A	0.39%
GWW	B	0.39%
PAYX	B	0.39%
FICO	C	0.39%
CMI	A	0.38%
LEN	C	0.38%
A	B	0.37%
PWR	A	0.37%
KVUE	C	0.37%
KMI	A	0.37%
LNG	A	0.36%
GIS	C	0.36%
IQV	F	0.36%
MPWR	B	0.36%
OTIS	A	0.36%
VST	A	0.36%
PCG	C	0.36%
GEHC	C	0.35%
CTVA	A	0.35%
FAST	C	0.35%
EXC	C	0.35%
IDXX	D	0.35%
HWM	A	0.35%
RCL	B	0.35%
MCHP	F	0.35%
YUM	C	0.34%
IR	A	0.34%
FERG	F	0.34%
EA	D	0.33%
ODFL	F	0.33%
VRSK	D	0.33%
DOW	B	0.33%
SYY	D	0.33%
HES	D	0.33%
CNC	F	0.33%
AME	C	0.33%
COR	F	0.32%
EXR	D	0.32%
KR	C	0.32%
IT	A	0.32%
CBRE	C	0.32%
CTSH	B	0.32%
XEL	C	0.31%
ED	C	0.31%
NUE	D	0.31%
BKR	B	0.31%
DD	C	0.31%
RMD	C	0.3%
ALNY	C	0.3%
VRT	B	0.3%
EFX	D	0.3%
EIX	C	0.29%
FANG	D	0.29%
HUM	F	0.29%
HPQ	B	0.29%
DDOG	B	0.29%
GLW	C	0.29%
VICI	C	0.29%
APP	A	0.29%
IRM	B	0.29%
DAL	C	0.28%
XYL	C	0.28%
VMC	D	0.28%
MLM	F	0.28%
TRGP	A	0.28%
EBAY	A	0.28%
MTD	C	0.27%
AVB	C	0.27%
WAB	A	0.27%
TSCO	A	0.27%
PHM	C	0.26%
CSGP	F	0.26%
ROK	D	0.26%
ON	F	0.26%
PPG	D	0.26%
WEC	B	0.26%
VEEV	C	0.26%
CHTR	D	0.26%
CDW	D	0.25%
BIIB	F	0.24%
HSY	D	0.24%
EQR	C	0.24%
CPNG	C	0.24%
ETR	A	0.24%
ADM	F	0.24%
AWK	D	0.24%
NVR	C	0.24%
AXON	A	0.24%
IFF	D	0.23%
HAL	D	0.23%
DXCM	F	0.23%
DTE	B	0.23%
GRMN	D	0.23%
CAH	B	0.23%
KEYS	B	0.23%
VLTO	A	0.23%
FTV	C	0.23%
ANSS	D	0.23%
SW	C	0.22%
MSTR	B	0.22%
CHD	D	0.22%
FE	C	0.22%
FSLR	C	0.22%
HUBS	D	0.22%
VTR	C	0.22%
HPE	B	0.22%
TTWO	D	0.22%
SBAC	C	0.22%
DOV	C	0.22%
TYL	D	0.21%
PPL	C	0.21%
WY	C	0.21%
LYB	B	0.21%
NTAP	D	0.21%
DVN	F	0.21%
BR	B	0.21%
HUBB	A	0.2%
STE	D	0.2%
AEE	A	0.2%
BLDR	C	0.2%
NET	D	0.2%
DECK	B	0.2%
ES	D	0.2%
GDDY	B	0.19%
WST	D	0.19%
WDC	C	0.19%
BBY	C	0.19%
ZBH	F	0.19%
LDOS	A	0.19%
RBLX	D	0.19%
CLX	C	0.18%
ILMN	B	0.18%
CSL	A	0.18%
BALL	C	0.18%
PTC	B	0.18%
ATO	A	0.18%
BAH	C	0.18%
WAT	B	0.18%
K	B	0.18%
CMS	A	0.18%
COO	C	0.18%
MKC	C	0.18%
INVH	D	0.18%
EQT	C	0.18%
GPC	D	0.17%
DRI	C	0.17%
PINS	D	0.17%
WBD	F	0.17%
MOH	F	0.17%
OMC	C	0.17%
EME	B	0.17%
TRU	C	0.17%
TER	C	0.17%
SMCI	F	0.17%
ARE	D	0.17%
TDY	A	0.17%
ULTA	D	0.16%
EXPD	D	0.16%
MDB	D	0.16%
LVS	B	0.16%
MAA	D	0.16%
UAL	A	0.16%
ALGN	D	0.16%
HOLX	D	0.16%
LH	D	0.16%
MAS	C	0.16%
CHK	C	0.16%
EXPE	B	0.16%
DG	F	0.16%
ZBRA	B	0.16%
ESS	D	0.16%
BAX	D	0.16%
CNP	B	0.16%
CVNA	A	0.16%
PKG	B	0.16%
LII	C	0.16%
STLD	C	0.16%
APTV	D	0.16%
WSM	C	0.16%
NRG	A	0.16%
DGX	D	0.15%
IP	C	0.15%
WSO	C	0.15%
TPL	A	0.15%
AVTR	D	0.15%
DKNG	C	0.15%
LYV	A	0.15%
AVY	D	0.15%
LUV	B	0.15%
CTRA	D	0.15%
CCL	C	0.15%
ZM	B	0.15%
VRSN	C	0.14%
SSNC	C	0.14%
CF	A	0.14%
TOL	C	0.14%
DOC	C	0.14%
PNR	C	0.14%
IEX	D	0.14%
AMCR	C	0.14%
TXT	F	0.14%
PODD	C	0.14%
J	F	0.14%
SUI	D	0.14%
BURL	C	0.14%
ENTG	D	0.14%
RS	D	0.14%
HEI	C	0.14%
SWK	C	0.14%
TSN	D	0.14%
MANH	A	0.14%
ENPH	F	0.13%
GEN	A	0.13%
UDR	C	0.13%
CE	D	0.13%
NDSN	C	0.13%
GWRE	A	0.13%
TRMB	B	0.13%
SNA	C	0.13%
DPZ	D	0.13%
PSTG	F	0.13%
OC	C	0.13%
AKAM	D	0.13%
KIM	C	0.13%
RPM	A	0.13%
ZS	F	0.13%
RVTY	C	0.13%
SWKS	F	0.13%
DT	B	0.13%
MRO	B	0.13%
THC	D	0.13%
CAG	D	0.13%
UTHR	C	0.13%
NI	A	0.13%
LNT	B	0.13%
FWONK	D	0.13%
VTRS	D	0.12%
FIX	A	0.12%
NTNX	C	0.12%
BG	F	0.12%
EVRG	C	0.12%
ACM	A	0.12%
JBHT	D	0.12%
POOL	D	0.12%
CASY	D	0.12%
USFD	C	0.12%
ROL	C	0.12%
DLTR	F	0.12%
AES	C	0.12%
GGG	C	0.12%
NTRA	A	0.12%
CLH	B	0.11%
WING	C	0.11%
KMX	F	0.11%
EXAS	C	0.11%
SJM	D	0.11%
BXP	B	0.11%
DOCU	A	0.11%
TTEK	A	0.11%
JLL	C	0.11%
ALLE	A	0.11%
CPT	C	0.11%
JNPR	C	0.11%
FND	C	0.11%
CHRW	C	0.11%
FFIV	B	0.11%
AMH	D	0.11%
CW	A	0.11%
BLD	D	0.11%
EMN	C	0.11%
ELS	D	0.11%
UHS	D	0.11%
BMRN	F	0.11%
JBL	C	0.11%
REG	C	0.11%
GLPI	C	0.11%
WPC	C	0.11%
CACI	A	0.1%
RPRX	D	0.1%
BJ	B	0.1%
CCK	C	0.1%
SCI	D	0.1%
NVT	C	0.1%
NBIX	F	0.1%
LAMR	C	0.1%
SAIA	D	0.1%
TFX	C	0.1%
DKS	D	0.1%
HEI	C	0.1%
OKTA	F	0.1%
IPG	D	0.1%
COHR	B	0.1%
FTI	B	0.1%
TXRH	A	0.1%
CUBE	C	0.1%
PFGC	A	0.1%
ITT	C	0.1%
TECH	D	0.1%
XPO	F	0.1%
HST	D	0.1%
CRL	F	0.09%
ARMK	C	0.09%
OHI	C	0.09%
TAP	D	0.09%
DOX	B	0.09%
NWSA	D	0.09%
WWD	C	0.09%
HAS	A	0.09%
WYNN	B	0.09%
BWXT	A	0.09%
Z	C	0.09%
PNW	C	0.09%
DUOL	B	0.09%
HII	F	0.09%
LECO	D	0.09%
LKQ	F	0.09%
ATR	A	0.09%
OVV	D	0.09%
TPR	B	0.09%
REXR	D	0.09%
AOS	C	0.09%
INCY	B	0.09%
RRX	B	0.09%
EPAM	F	0.09%
TWLO	B	0.09%
CTLT	A	0.09%
FBIN	C	0.09%
WMS	D	0.09%
ALB	D	0.09%
SRPT	F	0.09%
SNX	C	0.08%
EGP	D	0.08%
KBR	A	0.08%
NNN	C	0.08%
DCI	B	0.08%
CZR	B	0.08%
CHE	D	0.08%
SKX	B	0.08%
CIEN	A	0.08%
GPK	D	0.08%
NYT	C	0.08%
INGR	B	0.08%
MGM	D	0.08%
TTC	F	0.08%
PR	D	0.08%
TPX	C	0.08%
DAY	C	0.08%
HRL	F	0.08%
CAVA	B	0.08%
MUSA	D	0.08%
AYI	A	0.08%
HSIC	D	0.08%
APA	F	0.08%
GNRC	B	0.08%
CPB	D	0.08%
LW	D	0.08%
SOLV	C	0.08%
RGLD	C	0.08%
FRT	D	0.08%
ROKU	C	0.08%
QRVO	F	0.08%
EXP	C	0.08%
CHDN	C	0.08%
EHC	C	0.08%
OLED	B	0.08%
TKO	A	0.08%
MTCH	B	0.08%
WTRG	D	0.08%
FOXA	B	0.08%
CNH	C	0.08%
AA	B	0.08%
ONTO	B	0.08%
NLY	C	0.08%
CR	A	0.07%
DTM	A	0.07%
BERY	C	0.07%
MTZ	A	0.07%
ACI	F	0.07%
RL	B	0.07%
X	F	0.07%
AXTA	C	0.07%
GMED	B	0.07%
LNW	F	0.07%
COKE	C	0.07%
COLD	D	0.07%
BFAM	C	0.07%
FCN	C	0.07%
BRBR	A	0.07%
BWA	C	0.07%
SSD	B	0.07%
CHRD	F	0.07%
RGEN	F	0.07%
ATI	C	0.07%
FMC	C	0.07%
KNX	D	0.07%
GME	D	0.07%
OGE	C	0.07%
DVA	C	0.07%
GLOB	D	0.07%
AR	C	0.07%
BRX	C	0.07%
MHK	C	0.07%
CNM	F	0.07%
CROX	C	0.07%
PAYC	D	0.07%
MEDP	F	0.07%
NCLH	C	0.07%
RIVN	F	0.07%
ALSN	A	0.07%
RBC	C	0.07%
LAD	C	0.07%
MOS	F	0.07%
HRB	C	0.07%
FYBR	C	0.07%
LBRDK	C	0.07%
U	D	0.06%
MAT	B	0.06%
H	B	0.06%
VKTX	C	0.06%
BIO	B	0.06%
MTN	D	0.06%
LSTR	F	0.06%
SITE	D	0.06%
AZEK	D	0.06%
JAZZ	F	0.06%
RHI	D	0.06%
FLS	A	0.06%
HR	D	0.06%
GNTX	D	0.06%
CGNX	F	0.06%
G	A	0.06%
VNO	B	0.06%
WSC	D	0.06%
LSCC	D	0.06%
CART	B	0.06%
BBWI	F	0.06%
BSY	D	0.06%
VFC	A	0.06%
LPX	C	0.06%
DINO	F	0.06%
STAG	D	0.06%
ARW	C	0.06%
MKSI	F	0.06%
PEN	D	0.06%
PLNT	B	0.06%
SN	A	0.06%
PCTY	C	0.06%
AAL	D	0.06%
KEX	C	0.06%
ELAN	D	0.06%
SAIC	A	0.06%
UHAL	C	0.06%
WCC	D	0.06%
FR	D	0.06%
AAON	A	0.06%
BRKR	D	0.06%
RRC	D	0.06%
TREX	D	0.06%
MIDD	D	0.06%
APG	F	0.06%
SMAR	A	0.06%
ADC	C	0.06%
ITCI	D	0.06%
EXEL	B	0.06%
ST	F	0.05%
APPF	C	0.05%
SON	D	0.05%
XRAY	D	0.05%
VVV	D	0.05%
DOCS	A	0.05%
LAZ	C	0.05%
TKR	B	0.05%
PVH	D	0.05%
NFG	A	0.05%
CELH	F	0.05%
PATH	D	0.05%
SIRI	C	0.05%
BC	C	0.05%
MDU	C	0.05%
RITM	D	0.05%
OLN	D	0.05%
SRCL	B	0.05%
ALK	C	0.05%
THO	C	0.05%
WHR	C	0.05%
ACHC	F	0.05%
POST	C	0.05%
VMI	B	0.05%
ELF	F	0.05%
MASI	B	0.05%
DAR	F	0.05%
OLLI	C	0.05%
AWI	A	0.05%
GTLB	D	0.05%
ESAB	C	0.05%
GXO	D	0.05%
MTDR	D	0.05%
CLF	D	0.05%
MTSI	B	0.05%
ESI	C	0.05%
WH	C	0.05%
DBX	C	0.05%
ETSY	F	0.05%
LEA	F	0.05%
ESTC	F	0.05%
INSP	C	0.05%
IONS	F	0.05%
AGCO	D	0.05%
R	C	0.05%
PCOR	D	0.05%
WBA	F	0.05%
AZPN	A	0.05%
FRPT	A	0.05%
WFRD	F	0.05%
S	C	0.05%
PARA	F	0.05%
MSA	F	0.05%
NOV	F	0.05%
CRUS	D	0.05%
LFUS	C	0.05%
OSK	F	0.05%
LITE	A	0.04%
LOPE	D	0.04%
GAP	F	0.04%
M	D	0.04%
PII	D	0.04%
FLO	D	0.04%
ASH	F	0.04%
SLGN	B	0.04%
BYD	B	0.04%
DLB	D	0.04%
CUZ	C	0.04%
KRC	C	0.04%
LYFT	D	0.04%
AN	D	0.04%
HOG	D	0.04%
AL	D	0.04%
CFLT	F	0.04%
RYN	C	0.04%
VNOM	A	0.04%
LINE	F	0.04%
CPRI	C	0.04%
HCP	A	0.04%
PSN	A	0.04%
OGN	F	0.04%
AVT	B	0.04%
ROIV	D	0.04%
FIVE	D	0.04%
CCCS	D	0.04%
HXL	F	0.04%
SEE	C	0.04%
RH	C	0.04%
WLK	C	0.04%
W	C	0.04%
RARE	D	0.04%
NXST	D	0.04%
KD	D	0.04%
UGI	C	0.04%
AM	A	0.04%
VNT	F	0.04%
FOX	B	0.04%
CIVI	F	0.04%
IDA	D	0.04%
BILL	D	0.04%
LCID	F	0.03%
ZG	C	0.03%
CC	D	0.03%
PAG	D	0.03%
WEN	B	0.03%
TNL	B	0.03%
AMED	D	0.03%
NWL	D	0.03%
ZI	F	0.03%
PEGA	B	0.03%
NWS	D	0.03%
AMTM	D	0.03%
NSA	D	0.03%
AMKR	F	0.03%
NVST	D	0.03%
MAN	D	0.03%
MPW	C	0.03%
YETI	C	0.03%
PRGO	F	0.03%
LBTYA	C	0.03%
DNB	D	0.03%
COTY	F	0.03%
LBTYK	C	0.03%
HIW	C	0.03%
BROS	F	0.03%
DXC	C	0.03%
GTES	C	0.03%
CHH	A	0.03%
IRDM	C	0.03%
EPR	C	0.03%
SMG	C	0.03%
NEU	F	0.03%
GFS	F	0.03%
SPR	D	0.03%
IAC	C	0.03%
HUN	B	0.03%
MSGS	A	0.03%
MSM	D	0.03%
LEG	D	0.02%
BIRK	F	0.02%
QS	F	0.02%
LEN	C	0.02%
IPGP	D	0.02%
VSTS	D	0.02%
FIVN	F	0.02%
PINC	F	0.02%
PPC	C	0.02%
ADT	D	0.02%
HAYW	C	0.02%
JWN	D	0.02%
RCM	B	0.02%
AAP	F	0.02%
TXG	F	0.02%
ENOV	F	0.02%
KSS	D	0.02%
MP	C	0.02%
CRI	D	0.02%
LLYVK	B	0.02%
QDEL	D	0.02%
HHH	C	0.02%
CNXC	F	0.02%
DV	F	0.02%
SHC	C	0.02%
CWEN	C	0.02%
AZTA	F	0.02%
RNG	F	0.02%
SPB	C	0.02%
AGR	C	0.02%
NCNO	F	0.02%
SAM	D	0.02%
VAC	D	0.02%
CLVT	D	0.02%
CXT	F	0.02%
ALGM	F	0.02%
PENN	D	0.02%
COLM	B	0.02%
TDC	D	0.02%
APLS	F	0.02%
PK	D	0.02%
UHAL	C	0.01%
TFSL	D	0.01%
NFE	F	0.01%
LOAR	B	0.01%
SEB	F	0.01%
UI	B	0.01%
DJT	F	0.01%
AS	B	0.01%
CWEN	C	0.01%
LLYVA	B	0.01%
PYCR	D	0.01%
CNA	D	0.01%
ALAB	C	0.01%
WOLF	F	0.01%
DDS	D	0.01%
SNDR	D	0.01%
LBRDA	C	0.01%
CERT	F	0.01%
CAR	D	0.01%
TRIP	D	0.01%
INFA	D	0.01%
UA	B	0.01%
FWONA	C	0.01%
GO	F	0.01%
FTRE	F	0.01%
UAA	B	0.01%
REYN	D	0.01%
SEG	F	0.0%
PARAA	D	0.0%
GRAL	F	0.0%
PLTK	C	0.0%

IWR Underweight 264 Positions Relative to VFH

Symbol	Grade	Weight
JPM	C	-8.94%
BRK.A	B	-8.72%
MA	A	-5.55%
V	B	-4.12%
BAC	B	-3.97%
WFC	B	-2.82%
GS	B	-2.28%
SPGI	C	-2.27%
AXP	A	-2.06%
PGR	B	-2.04%
BLK	A	-1.85%
MS	A	-1.75%
C	B	-1.65%
MMC	D	-1.55%
CB	A	-1.52%
BX	C	-1.41%
FI	A	-1.41%
SCHW	D	-1.36%
ICE	A	-1.28%
MCO	D	-1.11%
KKR	A	-1.06%
PNC	C	-1.02%
USB	C	-1.02%
PYPL	A	-1.0%
AON	A	-0.93%
TFC	D	-0.82%
COF	A	-0.78%
TRV	B	-0.72%
AIG	C	-0.71%
MET	A	-0.65%
APO	A	-0.64%
ERIE	A	-0.18%
CRBG	B	-0.11%
JXN	A	-0.1%
SSB	C	-0.1%
ONB	D	-0.09%
ESNT	A	-0.09%
RDN	D	-0.08%
SIGI	D	-0.08%
HLNE	A	-0.08%
CADE	B	-0.08%
COOP	B	-0.08%
MC	B	-0.07%
UMBF	C	-0.07%
PIPR	A	-0.07%
UBSI	D	-0.07%
HOMB	D	-0.07%
GBCI	B	-0.07%
ABCB	C	-0.06%
SFBS	B	-0.06%
FFIN	D	-0.06%
HWC	D	-0.06%
PFSI	C	-0.06%
EBC	B	-0.05%
WSFS	D	-0.05%
ASB	D	-0.05%
FULT	D	-0.05%
IBOC	D	-0.05%
AUB	D	-0.05%
FBP	B	-0.05%
BGC	B	-0.05%
WD	C	-0.05%
UCB	D	-0.05%
HASI	B	-0.05%
AX	D	-0.05%
VLY	C	-0.05%
CNO	B	-0.05%
ESGR	C	-0.05%
ABR	C	-0.04%
CVBF	B	-0.04%
TOWN	C	-0.04%
TBBK	A	-0.04%
BOH	D	-0.04%
SFNC	B	-0.04%
INDB	D	-0.04%
FHI	A	-0.04%
PJT	A	-0.04%
PRK	D	-0.04%
BFH	D	-0.04%
BKU	D	-0.04%
APAM	B	-0.04%
FIBK	C	-0.04%
OSCR	C	-0.04%
WAFD	D	-0.04%
CATY	B	-0.04%
BXMT	C	-0.04%
GNW	A	-0.04%
TCBI	B	-0.04%
NMIH	B	-0.04%
UPST	C	-0.04%
STEP	A	-0.04%
CBU	D	-0.04%
MCY	B	-0.03%
AGM	D	-0.03%
TFIN	F	-0.03%
DFIN	B	-0.03%
WSBC	D	-0.03%
TRMK	D	-0.03%
NATL	D	-0.03%
FLYW	F	-0.03%
EFSC	D	-0.03%
BANC	D	-0.03%
GSHD	B	-0.03%
STC	D	-0.03%
BANR	B	-0.03%
PRG	C	-0.03%
MQ	F	-0.03%
OFG	D	-0.03%
IBTX	B	-0.03%
RNST	D	-0.03%
PAYO	A	-0.03%
EVTC	D	-0.03%
BANF	D	-0.03%
NBTB	D	-0.03%
VCTR	A	-0.03%
SBCF	D	-0.03%
FRME	D	-0.03%
PFS	D	-0.03%
ENVA	B	-0.03%
SNEX	B	-0.03%
HTLF	B	-0.03%
PPBI	D	-0.03%
PLMR	A	-0.03%
CNS	C	-0.03%
FFBC	D	-0.03%
EFC	D	-0.02%
CNNE	F	-0.02%
FBRT	C	-0.02%
SRCE	D	-0.02%
ECPG	F	-0.02%
GABC	D	-0.02%
PMT	B	-0.02%
EIG	A	-0.02%
BHLB	D	-0.02%
WT	D	-0.02%
NIC	D	-0.02%
QCRH	C	-0.02%
SAFT	D	-0.02%
VBTX	C	-0.02%
RC	F	-0.02%
SKWD	A	-0.02%
LC	D	-0.02%
WABC	F	-0.02%
SASR	B	-0.02%
NAVI	D	-0.02%
LADR	D	-0.02%
ARI	F	-0.02%
LOB	B	-0.02%
TCBK	D	-0.02%
HMN	B	-0.02%
VRTS	D	-0.02%
CODI	D	-0.02%
SPNT	D	-0.02%
TRUP	B	-0.02%
BUSE	D	-0.02%
HOPE	B	-0.02%
CUBI	F	-0.02%
HTH	F	-0.02%
FRHC	A	-0.02%
STBA	D	-0.02%
NBHC	D	-0.02%
NNI	B	-0.02%
NWBI	D	-0.02%
SYBT	C	-0.02%
FBNC	B	-0.02%
CASH	C	-0.02%
CHCO	D	-0.02%
LKFN	D	-0.02%
FCF	D	-0.02%
FBK	B	-0.02%
FFWM	D	-0.01%
FFIC	C	-0.01%
KRNY	C	-0.01%
PAY	D	-0.01%
HIFS	D	-0.01%
WRLD	F	-0.01%
CARE	C	-0.01%
SMBK	C	-0.01%
SPFI	D	-0.01%
DHIL	C	-0.01%
UFCS	D	-0.01%
MPB	B	-0.01%
PGC	B	-0.01%
PX	A	-0.01%
TIPT	B	-0.01%
MSBI	F	-0.01%
BHB	D	-0.01%
CCBG	D	-0.01%
NRDS	D	-0.01%
MCB	B	-0.01%
THFF	D	-0.01%
NFBK	D	-0.01%
CCNE	D	-0.01%
HONE	D	-0.01%
TRTX	D	-0.01%
GDOT	C	-0.01%
AROW	D	-0.01%
IIIV	D	-0.01%
AMBC	F	-0.01%
AMAL	B	-0.01%
WASH	C	-0.01%
CASS	F	-0.01%
EQBK	D	-0.01%
SMBC	B	-0.01%
GSBC	D	-0.01%
LPRO	D	-0.01%
CAC	C	-0.01%
FMNB	D	-0.01%
CCB	B	-0.01%
BFST	C	-0.01%
UVE	C	-0.01%
IMXI	F	-0.01%
HAFC	D	-0.01%
HTBK	D	-0.01%
EGBN	C	-0.01%
EZPW	C	-0.01%
AMTB	F	-0.01%
PRA	C	-0.01%
TRST	D	-0.01%
TREE	C	-0.01%
RPAY	F	-0.01%
HBNC	D	-0.01%
KREF	C	-0.01%
IBCP	D	-0.01%
MBWM	D	-0.01%
BSIG	D	-0.01%
BY	D	-0.01%
FCBC	D	-0.01%
CPF	C	-0.01%
OSBC	D	-0.01%
CFB	D	-0.01%
TMP	C	-0.01%
CTBI	B	-0.01%
CFFN	D	-0.01%
BRSP	D	-0.01%
HFWA	D	-0.01%
FMBH	D	-0.01%
UVSP	B	-0.01%
HCI	B	-0.01%
PRAA	F	-0.01%
CMTG	F	-0.01%
PFC	D	-0.01%
DCOM	B	-0.01%
BRKL	D	-0.01%
BFC	D	-0.01%
CNOB	B	-0.01%
DX	D	-0.01%
MBIN	C	-0.01%
SBSI	D	-0.01%
AMSF	B	-0.01%
LMND	F	-0.01%
OBK	D	-0.01%
RWT	C	-0.01%
FBMS	D	-0.01%
PEBO	F	-0.01%
OCFC	C	-0.01%
PFBC	D	-0.01%
RILY	F	-0.0%
AC	B	-0.0%
DGICA	D	-0.0%
JRVR	F	-0.0%
HMST	B	-0.0%
BMRC	D	-0.0%
ACRE	D	-0.0%