IWR vs. VSLU ETF Comparison

Comparison of iShares Russell Mid-Cap ETF (IWR) to Applied Finance Valuation Large Cap ETF (VSLU)

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 1000® Index.

Grade (RS Rating)

Last Trade

$87.99

Average Daily Volume

1,177,576

Number of Holdings ^*

801

* may have additional holdings in another (foreign) market

VSLU

Applied Finance Valuation Large Cap ETF

VSLU Description

ETF Opportunities Trust - Applied Finance Valuation Large Cap ETF is an exchange traded fund launched by ETF Opportunities Trust. The fund is co-managed by Applied Finance Advisors, LLC and Toroso Investments, LLC. It invests in the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors. It invests in value stocks of large-cap companies. The fund employs proprietary research to create its portfolio. ETF Opportunities Trust - Applied Finance Valuation Large Cap ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$35.71

Average Daily Volume

25,837

Number of Holdings ^*

303

* may have additional holdings in another (foreign) market

Performance

Period	IWR	VSLU
30 Days	4.19%	1.85%
60 Days	5.52%	3.90%
90 Days	8.27%	4.12%
12 Months	25.46%	30.92%

186 Overlapping Holdings

	Symbol	Grade	Weight in IWR	Weight in VSLU	Overlap
	A	C	0.35%	0.11%	0.11%
	ACGL	C	0.35%	0.08%	0.08%
	ADM	D	0.26%	0.09%	0.09%
	AFL	C	0.54%	0.12%	0.12%
	AIZ	B	0.09%	0.0%	0.0%
	ALLE	B	0.11%	0.05%	0.05%
	AMCR	B	0.14%	0.04%	0.04%
	AOS	D	0.08%	0.01%	0.01%
	APA	F	0.08%	0.04%	0.04%
	ATO	B	0.18%	0.02%	0.02%
	AVB	B	0.29%	0.0%	0.0%
	AVY	C	0.15%	0.03%	0.03%
	BALL	C	0.18%	0.03%	0.03%
	BBWI	F	0.05%	0.02%	0.02%
	BBY	C	0.19%	0.06%	0.06%
	BG	D	0.12%	0.06%	0.06%
	BIO	C	0.06%	0.01%	0.01%
	BLDR	C	0.19%	0.14%	0.14%
	BR	D	0.22%	0.03%	0.03%
	BWA	D	0.07%	0.03%	0.03%
	CAG	C	0.13%	0.0%	0.0%
	CAH	C	0.24%	0.06%	0.06%
	CBOE	C	0.19%	0.09%	0.09%
	CCI	C	0.45%	0.1%	0.1%
	CCL	C	0.15%	0.03%	0.03%
	CDW	D	0.26%	0.19%	0.19%
	CE	F	0.12%	0.02%	0.02%
	CF	C	0.13%	0.05%	0.05%
	CHD	D	0.22%	0.05%	0.05%
	CHRW	B	0.1%	0.03%	0.03%
	CHTR	D	0.28%	0.24%	0.24%
	CMA	B	0.06%	0.02%	0.02%
	CMI	C	0.36%	0.11%	0.11%
	CNC	D	0.35%	0.04%	0.04%
	CPAY	B	0.19%	0.22%	0.19%
	CPB	C	0.09%	0.01%	0.01%
	CPT	B	0.11%	0.02%	0.02%
	CTRA	D	0.15%	0.04%	0.04%
	CTSH	C	0.34%	0.08%	0.08%
	CTVA	B	0.35%	0.02%	0.02%
	CZR	C	0.07%	0.02%	0.02%
	DAL	C	0.25%	0.08%	0.08%
	DECK	C	0.21%	0.02%	0.02%
	DG	F	0.16%	0.09%	0.09%
	DHI	B	0.5%	0.22%	0.22%
	DLTR	F	0.12%	0.04%	0.04%
	DOC	C	0.14%	0.04%	0.04%
	DOV	B	0.22%	0.07%	0.07%
	DOW	D	0.31%	0.02%	0.02%
	DPZ	F	0.12%	0.12%	0.12%
	DRI	B	0.17%	0.02%	0.02%
	DVA	B	0.07%	0.08%	0.07%
	DVN	F	0.22%	0.07%	0.07%
	EA	D	0.34%	0.06%	0.06%
	EBAY	B	0.28%	0.08%	0.08%
	ED	C	0.32%	0.03%	0.03%
	EFX	B	0.33%	0.08%	0.08%
	EMN	B	0.11%	0.01%	0.01%
	ENPH	D	0.13%	0.01%	0.01%
	EPAM	F	0.1%	0.0%	0.0%
	EQR	B	0.26%	0.02%	0.02%
	ESS	B	0.18%	0.0%	0.0%
	ETSY	F	0.06%	0.02%	0.02%
	EXPD	C	0.15%	0.02%	0.02%
	EXPE	C	0.15%	0.05%	0.05%
	FANG	D	0.27%	0.09%	0.09%
	FDS	C	0.15%	0.06%	0.06%
	FFIV	B	0.11%	0.0%	0.0%
	FICO	B	0.39%	0.24%	0.24%
	FIS	B	0.41%	0.12%	0.12%
	FOXA	B	0.08%	0.08%	0.08%
	FRT	C	0.08%	0.02%	0.02%
	GEHC	C	0.32%	0.07%	0.07%
	GIS	B	0.36%	0.11%	0.11%
	GL	C	0.09%	0.03%	0.03%
	GLW	C	0.28%	0.07%	0.07%
	GNRC	D	0.07%	0.02%	0.02%
	GPC	D	0.17%	0.07%	0.07%
	GRMN	D	0.23%	0.07%	0.07%
	GWW	B	0.38%	0.12%	0.12%
	HAL	F	0.22%	0.06%	0.06%
	HAS	B	0.08%	0.07%	0.07%
	HIG	B	0.3%	0.05%	0.05%
	HII	D	0.09%	0.0%	0.0%
	HLT	B	0.47%	0.45%	0.45%
	HOLX	B	0.16%	0.03%	0.03%
	HPE	D	0.19%	0.04%	0.04%
	HPQ	D	0.28%	0.23%	0.23%
	HRL	C	0.08%	0.01%	0.01%
	HST	C	0.11%	0.02%	0.02%
	HSY	C	0.26%	0.15%	0.15%
	HUM	F	0.34%	0.05%	0.05%
	IDXX	C	0.36%	0.12%	0.12%
	IEX	D	0.13%	0.0%	0.0%
	INCY	C	0.1%	0.07%	0.07%
	IP	B	0.15%	0.06%	0.06%
	IPG	C	0.1%	0.04%	0.04%
	IQV	C	0.38%	0.34%	0.34%
	IR	C	0.32%	0.08%	0.08%
	IT	B	0.34%	0.24%	0.24%
	J	C	0.16%	0.04%	0.04%
	JBHT	D	0.12%	0.03%	0.03%
	JBL	D	0.11%	0.02%	0.02%
	JKHY	B	0.11%	0.02%	0.02%
	JNPR	B	0.11%	0.02%	0.02%
	K	B	0.18%	0.05%	0.05%
	KEYS	C	0.23%	0.06%	0.06%
	KIM	C	0.14%	0.01%	0.01%
	KMI	B	0.36%	0.04%	0.04%
	KMX	D	0.11%	0.01%	0.01%
	KR	C	0.32%	0.09%	0.09%
	KVUE	C	0.39%	0.12%	0.12%
	LDOS	B	0.18%	0.09%	0.09%
	LEN	B	0.02%	0.07%	0.02%
	LEN	B	0.39%	0.07%	0.07%
	LUV	C	0.15%	0.01%	0.01%
	LYB	D	0.21%	0.07%	0.07%
	MAA	B	0.17%	0.02%	0.02%
	MAS	B	0.15%	0.09%	0.09%
	MCHP	F	0.36%	0.22%	0.22%
	MGM	F	0.08%	0.01%	0.01%
	MHK	C	0.07%	0.02%	0.02%
	MKC	C	0.18%	0.02%	0.02%
	MLM	D	0.28%	0.03%	0.03%
	MOH	D	0.18%	0.05%	0.05%
	MOS	F	0.07%	0.04%	0.04%
	MRO	C	0.13%	0.04%	0.04%
	MTCH	C	0.08%	0.07%	0.07%
	MTD	D	0.25%	0.21%	0.21%
	NRG	C	0.15%	0.06%	0.06%
	NTAP	D	0.21%	0.05%	0.05%
	NTRS	A	0.16%	0.01%	0.01%
	NUE	F	0.3%	0.09%	0.09%
	NVR	B	0.24%	0.13%	0.13%
	ODFL	D	0.33%	0.05%	0.05%
	OMC	B	0.17%	0.13%	0.13%
	ON	D	0.27%	0.1%	0.1%
	OTIS	C	0.33%	0.24%	0.24%
	PAYC	D	0.08%	0.01%	0.01%
	PAYX	C	0.38%	0.07%	0.07%
	PEG	B	0.37%	0.03%	0.03%
	PFG	B	0.17%	0.02%	0.02%
	PHM	B	0.26%	0.16%	0.16%
	PKG	B	0.16%	0.03%	0.03%
	PNR	B	0.13%	0.05%	0.05%
	PODD	B	0.14%	0.03%	0.03%
	POOL	C	0.12%	0.01%	0.01%
	PPG	D	0.26%	0.04%	0.04%
	QRVO	F	0.09%	0.01%	0.01%
	RCL	B	0.35%	0.1%	0.1%
	RF	B	0.18%	0.04%	0.04%
	RHI	D	0.06%	0.02%	0.02%
	RL	C	0.06%	0.0%	0.0%
	ROK	D	0.26%	0.04%	0.04%
	ROL	C	0.12%	0.02%	0.02%
	SJM	C	0.11%	0.02%	0.02%
	SNA	C	0.13%	0.04%	0.04%
	SPG	B	0.46%	0.18%	0.18%
	STE	C	0.21%	0.01%	0.01%
	STLD	F	0.15%	0.07%	0.07%
	SWKS	D	0.14%	0.04%	0.04%
	TDY	B	0.18%	0.0%	0.0%
	TER	D	0.18%	0.03%	0.03%
	TPR	C	0.09%	0.03%	0.03%
	TRGP	B	0.28%	0.07%	0.07%
	TROW	D	0.2%	0.03%	0.03%
	TSCO	C	0.27%	0.07%	0.07%
	TXT	D	0.15%	0.01%	0.01%
	TYL	C	0.22%	0.02%	0.02%
	UAL	C	0.14%	0.07%	0.07%
	UDR	C	0.13%	0.02%	0.02%
	UHS	B	0.12%	0.02%	0.02%
	ULTA	D	0.16%	0.05%	0.05%
	URI	B	0.42%	0.12%	0.12%
	VLTO	C	0.24%	0.15%	0.15%
	VRSK	D	0.33%	0.05%	0.05%
	VRSN	D	0.14%	0.13%	0.13%
	VTR	C	0.23%	0.04%	0.04%
	VTRS	D	0.12%	0.03%	0.03%
	WAB	B	0.26%	0.1%	0.1%
	WRB	C	0.16%	0.04%	0.04%
	WTW	C	0.26%	0.0%	0.0%
	WY	C	0.21%	0.02%	0.02%
	XYL	C	0.28%	0.02%	0.02%
	YUM	D	0.33%	0.24%	0.24%
	ZBH	F	0.19%	0.02%	0.02%

IWR Overweight 615 Positions Relative to VSLU

	Symbol	Grade	Weight
	PLTR	B	0.63%
	AJG	D	0.56%
	WMB	B	0.48%
	OKE	B	0.47%
	O	C	0.47%
	ROST	C	0.45%
	DLR	B	0.45%
	BK	B	0.45%
	ALL	B	0.43%
	TTD	B	0.41%
	AMP	A	0.39%
	MPWR	C	0.38%
	MSCI	C	0.38%
	LHX	C	0.38%
	PRU	C	0.37%
	PCG	C	0.37%
	LNG	C	0.36%
	FAST	C	0.35%
	EXC	C	0.35%
	COR	D	0.35%
	AME	C	0.34%
	HWM	B	0.34%
	FERG	D	0.34%
	PWR	B	0.34%
	EXR	B	0.33%
	SYY	D	0.33%
	RMD	C	0.32%
	CBRE	A	0.32%
	VICI	C	0.31%
	XEL	B	0.31%
	SQ	D	0.31%
	HES	F	0.31%
	DD	B	0.3%
	IRM	C	0.3%
	DDOG	D	0.29%
	DFS	B	0.29%
	BKR	C	0.29%
	ALNY	C	0.29%
	CSGP	D	0.28%
	VEEV	C	0.28%
	COIN	F	0.28%
	EIX	C	0.28%
	VRT	C	0.27%
	VMC	D	0.27%
	VST	C	0.26%
	APP	C	0.26%
	NDAQ	A	0.26%
	WEC	C	0.26%
	MTB	B	0.25%
	GPN	D	0.25%
	BIIB	F	0.25%
	AWK	B	0.25%
	FITB	B	0.25%
	AXON	B	0.24%
	ETR	B	0.24%
	DXCM	F	0.24%
	CPNG	B	0.24%
	ANSS	D	0.24%
	FTV	C	0.23%
	DTE	C	0.23%
	SBAC	C	0.23%
	ARES	B	0.23%
	IFF	B	0.23%
	BRO	C	0.22%
	STT	A	0.22%
	TTWO	C	0.22%
	FE	C	0.22%
	NET	D	0.21%
	ES	C	0.21%
	PPL	C	0.21%
	HUBS	D	0.21%
	FSLR	C	0.21%
	AEE	C	0.2%
	RJF	C	0.2%
	INVH	C	0.2%
	SMCI	F	0.2%
	RBLX	B	0.2%
	WDC	D	0.19%
	ARE	C	0.19%
	COO	B	0.19%
	GDDY	C	0.19%
	HUBB	B	0.19%
	WST	D	0.19%
	FCNCA	D	0.19%
	MSTR	D	0.19%
	MKL	C	0.18%
	BAH	C	0.18%
	BAX	C	0.18%
	PTC	D	0.18%
	ILMN	C	0.18%
	CLX	C	0.18%
	WBD	D	0.18%
	CMS	C	0.18%
	HBAN	B	0.18%
	CINF	B	0.18%
	LII	B	0.17%
	SYF	C	0.17%
	WAT	C	0.17%
	TRU	B	0.17%
	EQT	D	0.17%
	CSL	B	0.17%
	MDB	D	0.17%
	SUI	B	0.16%
	AVTR	B	0.16%
	ALGN	D	0.16%
	WSM	D	0.16%
	EME	B	0.16%
	CFG	C	0.16%
	LH	C	0.16%
	APTV	D	0.16%
	EG	C	0.15%
	HEI	B	0.15%
	ENTG	F	0.15%
	DKNG	C	0.15%
	ZM	C	0.15%
	PINS	F	0.15%
	DGX	B	0.15%
	ZBRA	B	0.15%
	TSN	C	0.15%
	BURL	B	0.15%
	CNP	C	0.15%
	FWONK	C	0.14%
	ZS	F	0.14%
	SWK	B	0.14%
	LYV	B	0.14%
	TOL	B	0.14%
	THC	A	0.14%
	RS	D	0.14%
	BMRN	F	0.14%
	MANH	B	0.14%
	SSNC	B	0.14%
	WSO	C	0.14%
	NTRA	C	0.13%
	LVS	D	0.13%
	OC	D	0.13%
	NTNX	C	0.13%
	L	C	0.13%
	HOOD	C	0.13%
	UTHR	C	0.13%
	AKAM	D	0.13%
	CVNA	B	0.13%
	GEN	B	0.13%
	RVTY	B	0.13%
	KEY	B	0.13%
	FNF	B	0.13%
	TPL	B	0.13%
	NI	B	0.13%
	LNT	B	0.13%
	LPLA	D	0.13%
	RPM	B	0.13%
	ACM	B	0.12%
	DT	C	0.12%
	IBKR	B	0.12%
	RNR	C	0.12%
	GLPI	C	0.12%
	EVRG	B	0.12%
	TW	B	0.12%
	WPC	C	0.12%
	TRMB	C	0.12%
	REG	C	0.12%
	USFD	B	0.12%
	GGG	C	0.12%
	AMH	C	0.12%
	ELS	C	0.12%
	GWRE	A	0.12%
	CASY	D	0.12%
	PSTG	F	0.12%
	RGA	C	0.12%
	NDSN	C	0.12%
	CUBE	B	0.11%
	CW	B	0.11%
	NBIX	F	0.11%
	FIX	B	0.11%
	BLD	D	0.11%
	TTEK	C	0.11%
	DKS	D	0.11%
	EQH	C	0.11%
	XPO	D	0.11%
	BXP	B	0.11%
	CLH	A	0.11%
	AES	C	0.11%
	REXR	C	0.1%
	LKQ	F	0.1%
	TXRH	C	0.1%
	NVT	D	0.1%
	RIVN	F	0.1%
	EWBC	D	0.1%
	ITT	B	0.1%
	SRPT	D	0.1%
	PFGC	B	0.1%
	LAMR	B	0.1%
	SCI	B	0.1%
	HEI	B	0.1%
	SAIA	D	0.1%
	OKTA	F	0.1%
	DOCU	C	0.1%
	SW	B	0.1%
	TECH	C	0.1%
	WING	B	0.1%
	TFX	C	0.1%
	TOST	C	0.1%
	EXAS	C	0.1%
	FND	C	0.1%
	JLL	B	0.1%
	OLED	C	0.09%
	CHDN	C	0.09%
	WMS	D	0.09%
	AFG	B	0.09%
	LECO	F	0.09%
	WWD	D	0.09%
	WTRG	D	0.09%
	DOX	C	0.09%
	NWSA	D	0.09%
	ARMK	B	0.09%
	LNW	B	0.09%
	OHI	B	0.09%
	ATR	B	0.09%
	MUSA	D	0.09%
	AFRM	C	0.09%
	CRL	F	0.09%
	KNSL	C	0.09%
	ALB	D	0.09%
	NLY	B	0.09%
	RRX	C	0.09%
	PNW	C	0.09%
	COHR	C	0.09%
	TWLO	D	0.09%
	FBIN	B	0.09%
	OVV	F	0.09%
	FTI	D	0.09%
	CACI	B	0.09%
	JEF	B	0.09%
	CCK	A	0.09%
	BJ	D	0.09%
	CTLT	B	0.09%
	RPRX	C	0.09%
	SF	A	0.08%
	FHN	D	0.08%
	TPX	C	0.08%
	EVR	A	0.08%
	TTC	D	0.08%
	DAY	D	0.08%
	WAL	B	0.08%
	HRB	C	0.08%
	OWL	C	0.08%
	CG	D	0.08%
	INGR	B	0.08%
	NNN	C	0.08%
	MEDP	F	0.08%
	EGP	B	0.08%
	FYBR	C	0.08%
	BWXT	D	0.08%
	PRI	B	0.08%
	HSIC	C	0.08%
	ORI	B	0.08%
	SKX	D	0.08%
	CNH	D	0.08%
	ALLY	F	0.08%
	GPK	B	0.08%
	TKO	B	0.08%
	LW	D	0.08%
	EHC	C	0.08%
	EXP	B	0.08%
	CAVA	B	0.08%
	ROKU	C	0.08%
	RGLD	C	0.08%
	Z	B	0.08%
	MKTX	C	0.08%
	TAP	D	0.08%
	ONTO	D	0.08%
	SOLV	C	0.08%
	CHK	D	0.08%
	MKSI	F	0.07%
	CR	C	0.07%
	BERY	B	0.07%
	ADC	C	0.07%
	LAD	D	0.07%
	BRBR	C	0.07%
	VOYA	B	0.07%
	ATI	C	0.07%
	EXEL	C	0.07%
	AXTA	B	0.07%
	CROX	D	0.07%
	AR	F	0.07%
	ALSN	B	0.07%
	SSD	D	0.07%
	COKE	C	0.07%
	WBS	D	0.07%
	ITCI	D	0.07%
	FCN	D	0.07%
	RGEN	F	0.07%
	APG	D	0.07%
	GMED	D	0.07%
	FMC	C	0.07%
	AYI	B	0.07%
	HLI	B	0.07%
	SOFI	C	0.07%
	WYNN	D	0.07%
	X	F	0.07%
	CIEN	C	0.07%
	ACI	F	0.07%
	BFAM	C	0.07%
	RBC	C	0.07%
	OGE	C	0.07%
	AA	D	0.07%
	KNX	C	0.07%
	NCLH	C	0.07%
	GLOB	D	0.07%
	COLD	D	0.07%
	MORN	C	0.07%
	KBR	D	0.07%
	WEX	C	0.07%
	CHRD	F	0.07%
	UNM	B	0.07%
	DUOL	B	0.07%
	DCI	C	0.07%
	BRX	B	0.07%
	PR	F	0.07%
	CHE	C	0.07%
	SNX	D	0.07%
	NYT	C	0.07%
	STWD	B	0.06%
	CART	A	0.06%
	AZEK	C	0.06%
	LPX	B	0.06%
	RLI	B	0.06%
	H	C	0.06%
	VNO	B	0.06%
	AAON	B	0.06%
	GTLB	D	0.06%
	CFR	C	0.06%
	LSTR	D	0.06%
	MSA	D	0.06%
	MAT	C	0.06%
	VFC	C	0.06%
	PB	B	0.06%
	FRPT	B	0.06%
	WBA	F	0.06%
	OSK	F	0.06%
	IONS	F	0.06%
	SMAR	C	0.06%
	RYAN	D	0.06%
	WFRD	F	0.06%
	JAZZ	D	0.06%
	SNV	C	0.06%
	CGNX	F	0.06%
	FAF	B	0.06%
	SEIC	C	0.06%
	LBRDK	F	0.06%
	ARW	C	0.06%
	GNTX	F	0.06%
	ZION	D	0.06%
	MTG	B	0.06%
	CNM	F	0.06%
	WTFC	B	0.06%
	MTN	D	0.06%
	SN	B	0.06%
	RRC	D	0.06%
	G	C	0.06%
	BRKR	D	0.06%
	SWN	D	0.06%
	PEN	D	0.06%
	KEX	C	0.06%
	PCTY	C	0.06%
	AAL	D	0.06%
	WCC	D	0.06%
	BSY	D	0.06%
	UHAL	A	0.06%
	VKTX	C	0.06%
	MTZ	B	0.06%
	SAIC	C	0.06%
	MIDD	D	0.06%
	BPOP	C	0.06%
	ACHC	C	0.06%
	ELAN	D	0.06%
	TREX	D	0.06%
	HR	C	0.06%
	PLNT	B	0.06%
	AGNC	B	0.06%
	CRUS	D	0.06%
	STAG	C	0.06%
	PNFP	B	0.06%
	WSC	D	0.06%
	DINO	F	0.06%
	CBSH	C	0.06%
	DTM	B	0.06%
	FR	B	0.06%
	VNT	F	0.05%
	OLN	D	0.05%
	RARE	B	0.05%
	ST	D	0.05%
	FNB	C	0.05%
	WHR	D	0.05%
	S	C	0.05%
	THO	D	0.05%
	IDA	C	0.05%
	KD	D	0.05%
	ALK	C	0.05%
	FIVE	D	0.05%
	NXST	D	0.05%
	OGN	D	0.05%
	VVV	D	0.05%
	CIVI	F	0.05%
	BILL	D	0.05%
	LAZ	B	0.05%
	OMF	D	0.05%
	BC	C	0.05%
	THG	B	0.05%
	SON	C	0.05%
	VMI	D	0.05%
	PVH	F	0.05%
	XRAY	D	0.05%
	AMG	C	0.05%
	NFG	B	0.05%
	AWI	B	0.05%
	GME	F	0.05%
	DAR	F	0.05%
	CLF	F	0.05%
	MDU	C	0.05%
	AGCO	D	0.05%
	MTSI	D	0.05%
	ESAB	C	0.05%
	SRCL	A	0.05%
	BEN	F	0.05%
	ESI	D	0.05%
	POST	C	0.05%
	RITM	B	0.05%
	MTDR	F	0.05%
	IVZ	B	0.05%
	U	D	0.05%
	CELH	F	0.05%
	OLLI	C	0.05%
	SIRI	C	0.05%
	LEA	F	0.05%
	GXO	D	0.05%
	INSP	C	0.05%
	AZPN	B	0.05%
	PCOR	F	0.05%
	LFUS	C	0.05%
	DBX	D	0.05%
	LSCC	D	0.05%
	ESTC	F	0.05%
	WH	B	0.05%
	R	A	0.05%
	ELF	F	0.05%
	FLS	D	0.05%
	AXS	B	0.05%
	PARA	F	0.05%
	SITE	C	0.05%
	NOV	F	0.05%
	LYFT	D	0.04%
	M	F	0.04%
	SLGN	B	0.04%
	LOPE	D	0.04%
	DLB	D	0.04%
	ROIV	C	0.04%
	BYD	C	0.04%
	GAP	F	0.04%
	PII	D	0.04%
	EEFT	D	0.04%
	KRC	B	0.04%
	ASH	D	0.04%
	CPRI	D	0.04%
	FLO	C	0.04%
	AN	D	0.04%
	W	D	0.04%
	WTM	D	0.04%
	AGO	C	0.04%
	CUZ	B	0.04%
	SEE	D	0.04%
	PSN	B	0.04%
	OZK	D	0.04%
	AL	D	0.04%
	LNC	D	0.04%
	HOG	C	0.04%
	SLM	D	0.04%
	RYN	C	0.04%
	AVT	C	0.04%
	WLK	D	0.04%
	DOCS	B	0.04%
	JHG	B	0.04%
	TPG	B	0.04%
	RH	B	0.04%
	MASI	F	0.04%
	CCCS	D	0.04%
	CFLT	F	0.04%
	FOX	B	0.04%
	PATH	D	0.04%
	APPF	D	0.04%
	UGI	C	0.04%
	HXL	F	0.04%
	AM	C	0.04%
	FOUR	C	0.04%
	COLB	B	0.04%
	TKR	D	0.04%
	PAG	D	0.03%
	CXT	D	0.03%
	SMG	C	0.03%
	WU	F	0.03%
	PK	D	0.03%
	TNL	D	0.03%
	PEGA	C	0.03%
	FHB	D	0.03%
	WEN	C	0.03%
	PENN	D	0.03%
	BROS	D	0.03%
	AMED	C	0.03%
	CNXC	F	0.03%
	IRDM	D	0.03%
	NWS	D	0.03%
	NWL	C	0.03%
	HCP	B	0.03%
	ZI	D	0.03%
	NVST	D	0.03%
	LBTYA	B	0.03%
	YETI	D	0.03%
	NSA	B	0.03%
	MAN	C	0.03%
	AMKR	F	0.03%
	HIW	B	0.03%
	GTES	C	0.03%
	DNB	C	0.03%
	LBTYK	B	0.03%
	LCID	C	0.03%
	CHH	C	0.03%
	HUN	D	0.03%
	EPR	B	0.03%
	MSM	D	0.03%
	KMPR	D	0.03%
	COTY	F	0.03%
	LITE	B	0.03%
	NEU	D	0.03%
	PRGO	D	0.03%
	MPW	C	0.03%
	MSGS	B	0.03%
	DXC	C	0.03%
	SPR	D	0.03%
	IAC	C	0.03%
	GFS	F	0.03%
	VNOM	C	0.03%
	APLS	F	0.03%
	REYN	C	0.02%
	FWONA	C	0.02%
	FTRE	D	0.02%
	AS	C	0.02%
	BIRK	F	0.02%
	MP	D	0.02%
	HAYW	C	0.02%
	IPGP	F	0.02%
	LLYVK	B	0.02%
	VSTS	D	0.02%
	ADT	C	0.02%
	QS	F	0.02%
	FIVN	F	0.02%
	KSS	F	0.02%
	JWN	C	0.02%
	RCM	C	0.02%
	HHH	C	0.02%
	TXG	D	0.02%
	ENOV	D	0.02%
	RNG	F	0.02%
	BOKF	B	0.02%
	CWEN	C	0.02%
	QDEL	D	0.02%
	PINC	C	0.02%
	AAP	F	0.02%
	NCNO	D	0.02%
	SAM	F	0.02%
	DV	F	0.02%
	SHC	C	0.02%
	AGR	B	0.02%
	VAC	F	0.02%
	CRI	D	0.02%
	AZTA	F	0.02%
	CLVT	D	0.02%
	CACC	F	0.02%
	CC	F	0.02%
	VIRT	C	0.02%
	SPB	C	0.02%
	ZG	B	0.02%
	RKT	C	0.02%
	TDC	F	0.02%
	COLM	C	0.02%
	BHF	F	0.02%
	TFSL	C	0.01%
	NFE	F	0.01%
	SEB	D	0.01%
	UI	B	0.01%
	LLYVA	B	0.01%
	LOAR	C	0.01%
	ALAB	D	0.01%
	UWMC	D	0.01%
	CWEN	C	0.01%
	PYCR	D	0.01%
	DJT	F	0.01%
	LBRDA	F	0.01%
	DDS	F	0.01%
	WOLF	F	0.01%
	SNDR	B	0.01%
	CAR	F	0.01%
	CERT	F	0.01%
	CNA	C	0.01%
	UAA	C	0.01%
	TRIP	F	0.01%
	UA	D	0.01%
	GO	F	0.01%
	INFA	D	0.01%
	LEG	D	0.01%
	PPC	D	0.01%
	ALGM	F	0.01%
	SEG	C	0.0%
	PARAA	D	0.0%
	GRAL	F	0.0%
	UHAL	A	0.0%
	PLTK	C	0.0%

IWR Underweight 118 Positions Relative to VSLU

	Symbol	Grade	Weight
	AAPL	C	-8.39%
	NVDA	D	-7.88%
	MSFT	C	-5.62%
	GOOGL	D	-5.19%
	MA	B	-5.12%
	META	B	-4.07%
	AMZN	C	-3.48%
	AVGO	C	-3.42%
	V	C	-3.21%
	ABBV	C	-2.2%
	JNJ	C	-2.06%
	MRK	D	-2.06%
	WMT	C	-1.34%
	HD	B	-1.1%
	UNH	C	-1.07%
	ACN	C	-1.0%
	ADBE	F	-0.99%
	XOM	C	-0.96%
	PG	C	-0.76%
	GILD	B	-0.76%
	AON	B	-0.74%
	BMY	C	-0.74%
	PM	C	-0.74%
	TMO	B	-0.69%
	CSCO	C	-0.67%
	AMAT	D	-0.66%
	LOW	B	-0.64%
	KO	C	-0.64%
	JPM	D	-0.63%
	BKNG	C	-0.62%
	KLAC	D	-0.62%
	ORLY	C	-0.58%
	MCD	B	-0.55%
	MCK	F	-0.55%
	TMUS	C	-0.54%
	TXN	C	-0.53%
	CVX	D	-0.53%
	PEP	C	-0.44%
	AZO	D	-0.44%
	VZ	B	-0.41%
	CAT	B	-0.41%
	LRCX	F	-0.4%
	LMT	C	-0.4%
	UNP	C	-0.39%
	HCA	B	-0.37%
	ABT	C	-0.36%
	SHW	B	-0.36%
	AMT	C	-0.35%
	QCOM	D	-0.34%
	VRTX	D	-0.34%
	SPGI	B	-0.33%
	SYK	C	-0.31%
	REGN	C	-0.3%
	MAR	C	-0.3%
	MPC	F	-0.28%
	T	C	-0.28%
	MCO	B	-0.28%
	MO	C	-0.27%
	IBM	B	-0.27%
	ZTS	C	-0.26%
	COP	D	-0.26%
	ADP	B	-0.25%
	HON	D	-0.25%
	MMM	B	-0.25%
	VLO	F	-0.24%
	MMC	C	-0.24%
	NFLX	B	-0.24%
	PYPL	B	-0.22%
	CMCSA	D	-0.21%
	CSX	D	-0.21%
	MDLZ	B	-0.21%
	NKE	D	-0.2%
	ADI	C	-0.19%
	GM	C	-0.19%
	CRM	D	-0.19%
	RTX	C	-0.17%
	MSI	B	-0.16%
	EOG	D	-0.16%
	TDG	B	-0.16%
	PSX	F	-0.16%
	TT	B	-0.15%
	ITW	C	-0.15%
	ROP	C	-0.15%
	CB	B	-0.14%
	NOC	B	-0.14%
	NXPI	F	-0.14%
	MET	B	-0.14%
	MDT	C	-0.14%
	ANET	B	-0.14%
	STZ	D	-0.13%
	TGT	C	-0.13%
	ELV	C	-0.13%
	APH	D	-0.12%
	CTAS	B	-0.12%
	GD	B	-0.12%
	FCX	D	-0.12%
	MNST	D	-0.11%
	ADSK	C	-0.1%
	KDP	B	-0.1%
	EW	F	-0.1%
	UPS	D	-0.09%
	CI	C	-0.09%
	FTNT	C	-0.09%
	PSA	B	-0.09%
	DHR	B	-0.08%
	PH	B	-0.08%
	KHC	C	-0.08%
	CDNS	D	-0.07%
	SNPS	D	-0.07%
	FDX	C	-0.07%
	LULU	D	-0.07%
	JCI	B	-0.06%
	PNC	B	-0.05%
	ETN	C	-0.05%
	TEL	D	-0.04%
	MS	D	-0.03%
	USB	B	-0.03%
	TRV	C	-0.03%

IWR: Top Represented Industries & Keywords

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

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

VSLU: Top Represented Industries & Keywords

Industries: Diversified Industrials Business Services Semiconductors Specialty Retail Packaged Foods Software - Application Aerospace & Defense Diagnostics & Research Information Technology Services Oil & Gas E&P Health Care Plans Medical Devices REIT - Residential Drug Manufacturers - Major Integrated Shipping & Logistics Leisure Semiconductor Equipment & Materials Banks - Regional - US Beverages - Soft Drinks Capital Markets

Keywords: S&P 500 Nasdaq 100 Dow Jones Component Electronics Computing Insurance Telecommunications Natural Gas Real Estate Investment Trust Chemical Semiconductor Aerospace Beverage Medicine Mobile Devices Banking Petroleum Industry Transport Building Materials Insurance Products