PRF vs. VCEB ETF Comparison

Comparison of Powershares FTSE RAFI US 1000 Portfolio (PRF) to Vanguard ESG U.S. Corporate Bond ETF (VCEB)

PRF

Powershares FTSE RAFI US 1000 Portfolio

PRF Description

The PowerShares FTSE RAFI US 1000 Portfolio (Fund) is based on the FTSE RAFI US 1000 Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to track the performance of the largest US equities, selected based on the following four fundamental measures of firm size: book value, cash flow, sales and dividends. The 1,000 equities with the highest fundamental strength are weighted by their fundamental scores. The Fund and the Index are reconstituted annually.

Grade (RS Rating)

Last Trade

$42.44

Average Daily Volume

209,512

Number of Holdings ^*

982

* 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	PRF	VCEB
30 Days	4.02%	-0.25%
60 Days	5.08%	-2.76%
90 Days	6.89%	-1.73%
12 Months	30.29%	7.45%

226 Overlapping Holdings

Symbol	Grade	Weight in PRF	Weight in VCEB	Overlap
A	D	0.04%	0.02%	0.02%
AAPL	C	2.3%	0.01%	0.01%
ABBV	D	0.57%	0.03%	0.03%
ABT	B	0.32%	0.03%	0.03%
ACGL	D	0.07%	0.03%	0.03%
ADBE	C	0.11%	0.01%	0.01%
ADI	D	0.17%	0.01%	0.01%
ADM	D	0.21%	0.02%	0.02%
ADP	B	0.14%	0.03%	0.03%
AER	B	0.09%	0.01%	0.01%
AFL	B	0.2%	0.05%	0.05%
AIG	B	0.31%	0.01%	0.01%
AJG	B	0.07%	0.02%	0.02%
AL	B	0.03%	0.01%	0.01%
ALLY	C	0.08%	0.03%	0.03%
AMAT	F	0.12%	0.01%	0.01%
AMGN	D	0.32%	0.01%	0.01%
AMP	A	0.1%	0.03%	0.03%
AMT	D	0.15%	0.01%	0.01%
AMZN	C	1.74%	0.01%	0.01%
AON	A	0.07%	0.01%	0.01%
APD	A	0.16%	0.02%	0.02%
APH	A	0.08%	0.02%	0.02%
ARE	D	0.06%	0.01%	0.01%
AVGO	D	0.5%	0.02%	0.02%
AWK	D	0.05%	0.02%	0.02%
AXP	A	0.29%	0.01%	0.01%
AZO	C	0.07%	0.04%	0.04%
BAC	A	1.37%	0.02%	0.02%
BAX	D	0.05%	0.02%	0.02%
BDX	F	0.13%	0.03%	0.03%
BEN	C	0.04%	0.02%	0.02%
BERY	B	0.04%	0.01%	0.01%
BG	F	0.1%	0.03%	0.03%
BHF	B	0.03%	0.03%	0.03%
BIIB	F	0.09%	0.01%	0.01%
BK	A	0.27%	0.01%	0.01%
BKNG	A	0.1%	0.02%	0.02%
BLK	C	0.33%	0.02%	0.02%
BMY	B	0.42%	0.03%	0.03%
BR	A	0.03%	0.02%	0.02%
BRX	A	0.03%	0.01%	0.01%
BSX	B	0.12%	0.01%	0.01%
BWA	D	0.05%	0.03%	0.03%
BXP	D	0.06%	0.01%	0.01%
C	A	1.14%	0.01%	0.01%
CAG	D	0.07%	0.01%	0.01%
CAH	B	0.29%	0.02%	0.02%
CARR	D	0.11%	0.02%	0.02%
CAT	B	0.34%	0.01%	0.01%
CB	C	0.3%	0.01%	0.01%
CCI	D	0.12%	0.01%	0.01%
CF	B	0.06%	0.02%	0.02%
CFG	B	0.16%	0.03%	0.03%
CHTR	C	0.25%	0.02%	0.02%
CI	F	0.37%	0.01%	0.01%
CMA	A	0.06%	0.03%	0.03%
CMCSA	B	0.78%	0.01%	0.01%
CME	A	0.14%	0.02%	0.02%
CMI	A	0.15%	0.02%	0.02%
COF	B	0.41%	0.01%	0.01%
CPB	D	0.03%	0.02%	0.02%
CPT	B	0.04%	0.04%	0.04%
CRM	B	0.25%	0.02%	0.02%
CSCO	B	0.64%	0.02%	0.02%
CSL	C	0.03%	0.02%	0.02%
CTAS	B	0.06%	0.04%	0.04%
CVS	D	0.53%	0.01%	0.01%
DD	D	0.17%	0.06%	0.06%
DE	A	0.22%	0.02%	0.02%
DFS	B	0.2%	0.01%	0.01%
DG	F	0.05%	0.03%	0.03%
DGX	A	0.07%	0.03%	0.03%
DHR	F	0.16%	0.01%	0.01%
DIS	B	0.42%	0.01%	0.01%
DLR	B	0.13%	0.01%	0.01%
DLTR	F	0.04%	0.02%	0.02%
DOC	D	0.07%	0.03%	0.03%
DOW	F	0.18%	0.01%	0.01%
EA	A	0.04%	0.01%	0.01%
EBAY	D	0.09%	0.01%	0.01%
EFX	F	0.03%	0.02%	0.02%
EG	C	0.05%	0.03%	0.03%
EMN	D	0.06%	0.02%	0.02%
EQH	B	0.06%	0.05%	0.05%
EQIX	A	0.1%	0.03%	0.03%
EQR	B	0.08%	0.03%	0.03%
ETN	A	0.18%	0.03%	0.03%
EXPE	B	0.04%	0.04%	0.04%
FDX	B	0.31%	0.01%	0.01%
FIS	C	0.15%	0.01%	0.01%
FITB	A	0.14%	0.02%	0.02%
FOXA	B	0.05%	0.01%	0.01%
FTV	C	0.03%	0.03%	0.03%
GILD	C	0.37%	0.01%	0.01%
GIS	D	0.13%	0.03%	0.03%
GLPI	C	0.03%	0.01%	0.01%
GLW	B	0.12%	0.02%	0.02%
GM	B	0.79%	0.01%	0.01%
GOOGL	C	1.03%	0.02%	0.02%
GPN	B	0.07%	0.01%	0.01%
GS	A	0.78%	0.01%	0.01%
GWW	B	0.06%	0.04%	0.04%
HAS	D	0.04%	0.03%	0.03%
HBAN	A	0.12%	0.02%	0.02%
HCA	F	0.15%	0.02%	0.02%
HD	A	0.73%	0.01%	0.01%
HIG	B	0.14%	0.02%	0.02%
HPE	B	0.19%	0.01%	0.01%
HPQ	B	0.19%	0.01%	0.01%
HRL	D	0.03%	0.02%	0.02%
HST	C	0.04%	0.02%	0.02%
HUM	C	0.14%	0.01%	0.01%
HUN	F	0.02%	0.02%	0.02%
IBM	C	0.53%	0.02%	0.02%
ICE	C	0.12%	0.01%	0.01%
IFF	D	0.08%	0.03%	0.03%
INTC	D	0.45%	0.01%	0.01%
ITW	B	0.12%	0.03%	0.03%
JNJ	D	0.92%	0.01%	0.01%
JPM	A	2.2%	0.01%	0.01%
K	A	0.08%	0.03%	0.03%
KDP	D	0.09%	0.01%	0.01%
KEY	B	0.11%	0.01%	0.01%
KLAC	D	0.05%	0.01%	0.01%
KMB	D	0.13%	0.04%	0.04%
KO	D	0.47%	0.01%	0.01%
LEA	D	0.04%	0.02%	0.02%
LEN	D	0.01%	0.04%	0.01%
LEN	D	0.12%	0.04%	0.04%
LH	C	0.06%	0.03%	0.03%
LLY	F	0.21%	0.03%	0.03%
LOW	D	0.34%	0.01%	0.01%
LRCX	F	0.07%	0.01%	0.01%
LUV	C	0.02%	0.01%	0.01%
MA	C	0.17%	0.03%	0.03%
MAR	B	0.06%	0.01%	0.01%
MCD	D	0.29%	0.01%	0.01%
MCHP	D	0.05%	0.04%	0.04%
MCK	B	0.45%	0.02%	0.02%
MDLZ	F	0.18%	0.01%	0.01%
MDT	D	0.35%	0.05%	0.05%
MET	A	0.29%	0.01%	0.01%
MKC	D	0.04%	0.02%	0.02%
MLM	B	0.04%	0.02%	0.02%
MMC	B	0.13%	0.04%	0.04%
MMM	D	0.42%	0.01%	0.01%
MOS	F	0.06%	0.06%	0.06%
MRK	F	0.41%	0.01%	0.01%
MRVL	B	0.06%	0.01%	0.01%
MS	A	0.58%	0.01%	0.01%
MSFT	F	1.86%	0.01%	0.01%
MSI	B	0.07%	0.01%	0.01%
MTB	A	0.16%	0.07%	0.07%
MU	D	0.31%	0.03%	0.03%
NEM	D	0.16%	0.02%	0.02%
NKE	D	0.12%	0.01%	0.01%
NOW	A	0.04%	0.04%	0.04%
NTAP	C	0.06%	0.02%	0.02%
NTRS	A	0.1%	0.03%	0.03%
NVDA	C	0.26%	0.01%	0.01%
NVR	D	0.05%	0.03%	0.03%
NXPI	D	0.08%	0.01%	0.01%
O	D	0.1%	0.02%	0.02%
OMC	C	0.08%	0.02%	0.02%
ORCL	B	0.32%	0.02%	0.02%
ORLY	B	0.06%	0.03%	0.03%
OTIS	C	0.06%	0.04%	0.04%
PEP	F	0.48%	0.01%	0.01%
PFE	D	0.77%	0.01%	0.01%
PG	A	0.71%	0.01%	0.01%
PGR	A	0.25%	0.05%	0.05%
PH	A	0.11%	0.01%	0.01%
PLD	D	0.15%	0.01%	0.01%
PNC	B	0.37%	0.01%	0.01%
PPG	F	0.07%	0.03%	0.03%
PRU	A	0.23%	0.01%	0.01%
PWR	A	0.06%	0.03%	0.03%
PYPL	B	0.2%	0.01%	0.01%
QCOM	F	0.31%	0.01%	0.01%
QRVO	F	0.02%	0.02%	0.02%
REGN	F	0.1%	0.02%	0.02%
RF	A	0.12%	0.03%	0.03%
RJF	A	0.07%	0.02%	0.02%
RL	B	0.02%	0.02%	0.02%
ROP	B	0.06%	0.03%	0.03%
RPRX	D	0.02%	0.01%	0.01%
RSG	A	0.06%	0.01%	0.01%
SBUX	A	0.17%	0.02%	0.02%
SCHW	B	0.18%	0.01%	0.01%
SHW	A	0.09%	0.02%	0.02%
SJM	D	0.05%	0.03%	0.03%
SPG	B	0.12%	0.01%	0.01%
STT	A	0.16%	0.01%	0.01%
SWK	D	0.07%	0.02%	0.02%
SYF	B	0.23%	0.03%	0.03%
SYK	C	0.12%	0.01%	0.01%
SYY	B	0.14%	0.01%	0.01%
T	A	1.18%	0.01%	0.01%
TFC	A	0.36%	0.01%	0.01%
TGT	F	0.29%	0.01%	0.01%
TJX	A	0.19%	0.07%	0.07%
TMO	F	0.22%	0.01%	0.01%
TMUS	B	0.33%	0.01%	0.01%
TRV	B	0.24%	0.02%	0.02%
TSN	B	0.15%	0.01%	0.01%
TT	A	0.1%	0.02%	0.02%
TXN	C	0.34%	0.01%	0.01%
UHS	D	0.05%	0.02%	0.02%
UNH	C	1.06%	0.01%	0.01%
UPS	C	0.32%	0.01%	0.01%
USB	A	0.38%	0.01%	0.01%
V	A	0.25%	0.02%	0.02%
VFC	C	0.07%	0.02%	0.02%
VMC	B	0.04%	0.02%	0.02%
VRSK	A	0.03%	0.04%	0.03%
VTR	C	0.11%	0.02%	0.02%
VTRS	A	0.09%	0.01%	0.01%
VZ	C	1.19%	0.02%	0.02%
WAB	B	0.06%	0.03%	0.03%
WBA	F	0.11%	0.02%	0.02%
WELL	A	0.16%	0.01%	0.01%
WM	A	0.13%	0.01%	0.01%
XRAY	F	0.01%	0.02%	0.01%
ZBH	C	0.05%	0.03%	0.03%
ZTS	D	0.06%	0.01%	0.01%

PRF Overweight 756 Positions Relative to VCEB

Symbol	Grade	Weight
BRK.A	B	2.34%
XOM	B	2.24%
WFC	A	1.29%
WMT	A	1.16%
CVX	A	1.16%
META	D	0.96%
GOOG	C	0.89%
PM	B	0.66%
COST	B	0.56%
MO	A	0.52%
RTX	C	0.47%
COP	C	0.42%
DUK	C	0.4%
F	C	0.39%
NEE	D	0.38%
TSLA	B	0.37%
SO	D	0.36%
LMT	D	0.34%
VLO	C	0.33%
KR	B	0.31%
MPC	D	0.31%
HON	B	0.3%
KMI	A	0.3%
PSX	C	0.29%
LIN	D	0.28%
ELV	F	0.28%
EOG	A	0.27%
COR	B	0.26%
D	C	0.26%
UNP	C	0.25%
ACN	C	0.25%
WMB	A	0.24%
GE	D	0.23%
CNC	D	0.22%
FI	A	0.22%
NFLX	A	0.21%
EXC	C	0.2%
ALL	A	0.2%
AEP	D	0.2%
SRE	A	0.19%
OKE	A	0.18%
GD	F	0.18%
JCI	C	0.18%
NOC	D	0.17%
SPGI	C	0.17%
WBD	C	0.16%
XEL	A	0.15%
EMR	A	0.15%
VST	B	0.15%
AMD	F	0.15%
ETR	B	0.15%
ED	D	0.15%
PEG	A	0.15%
IP	B	0.15%
CSX	B	0.14%
BBY	D	0.14%
PPL	B	0.14%
EIX	B	0.14%
KHC	F	0.14%
LYB	F	0.14%
FCX	D	0.14%
PCAR	B	0.14%
CBRE	B	0.13%
KKR	A	0.13%
OXY	D	0.13%
ZIM	C	0.13%
CL	D	0.13%
NSC	B	0.13%
SLB	C	0.13%
CEG	D	0.13%
BX	A	0.13%
NUE	C	0.12%
BKR	B	0.12%
LHX	C	0.12%
LUMN	C	0.12%
DHI	D	0.12%
THC	D	0.12%
PARA	C	0.12%
ES	D	0.11%
NRG	B	0.11%
URI	B	0.11%
WEC	A	0.11%
BA	F	0.11%
PCG	A	0.11%
DTE	C	0.1%
CTSH	B	0.1%
DVN	F	0.1%
PFG	D	0.1%
FE	C	0.1%
WDC	D	0.1%
TRGP	B	0.1%
GEV	B	0.1%
VRTX	F	0.09%
USFD	A	0.09%
WY	D	0.09%
INTU	C	0.09%
TROW	B	0.09%
AEE	A	0.09%
JXN	C	0.09%
CTVA	C	0.09%
EVRG	A	0.08%
GEHC	F	0.08%
FLEX	A	0.08%
CHRW	C	0.08%
PFGC	B	0.08%
FANG	D	0.08%
CINF	A	0.08%
ISRG	A	0.08%
ARW	D	0.08%
KMX	B	0.08%
AVB	B	0.08%
MKL	A	0.08%
UNM	A	0.08%
IRM	D	0.08%
LNC	B	0.07%
STZ	D	0.07%
HAL	C	0.07%
FNF	B	0.07%
LNG	B	0.07%
TDG	D	0.07%
STX	D	0.07%
EQT	B	0.07%
JEF	A	0.07%
VICI	C	0.07%
SQ	B	0.07%
WTW	B	0.07%
CMS	C	0.07%
CTRA	B	0.07%
MRO	B	0.07%
PAYX	C	0.07%
STLD	B	0.07%
PSA	D	0.07%
PHM	D	0.07%
CCL	B	0.07%
CNP	B	0.07%
ACI	C	0.07%
AA	B	0.07%
ECL	D	0.07%
BLDR	D	0.06%
IVZ	B	0.06%
MHK	D	0.06%
WCC	B	0.06%
ATO	A	0.06%
VNO	B	0.06%
CRBG	B	0.06%
ORI	A	0.06%
MCO	B	0.06%
PNW	B	0.06%
ROST	C	0.06%
LAD	A	0.06%
LDOS	C	0.06%
FAST	B	0.06%
PKG	A	0.06%
RGA	A	0.06%
UAL	A	0.06%
WHR	B	0.06%
L	A	0.06%
NI	A	0.06%
GEN	B	0.06%
FYBR	D	0.06%
JLL	D	0.06%
R	B	0.06%
GRMN	B	0.06%
UGI	A	0.05%
INVH	D	0.05%
DXC	B	0.05%
TSCO	D	0.05%
DRI	B	0.05%
HWM	A	0.05%
HBI	B	0.05%
APO	B	0.05%
TWLO	A	0.05%
BALL	D	0.05%
UBER	D	0.05%
ZION	B	0.05%
CLX	B	0.05%
ACM	A	0.05%
ESS	B	0.05%
X	C	0.05%
RS	B	0.05%
ROK	B	0.05%
MOH	F	0.05%
SFM	A	0.05%
BAP	B	0.05%
MAA	B	0.05%
KIM	A	0.05%
BJ	A	0.05%
TOL	B	0.05%
AN	C	0.05%
OC	A	0.05%
TAP	C	0.05%
M	D	0.05%
RCL	A	0.05%
YUM	B	0.05%
AES	F	0.05%
OMF	A	0.05%
CNH	C	0.05%
IQV	D	0.05%
SOLV	C	0.05%
DOV	A	0.05%
FHN	A	0.05%
TDS	B	0.05%
JBL	B	0.05%
LNT	A	0.05%
AFG	A	0.05%
KD	B	0.05%
GPC	D	0.05%
HES	B	0.05%
AVT	C	0.04%
CHD	B	0.04%
CPAY	A	0.04%
SUI	D	0.04%
WPC	D	0.04%
DINO	D	0.04%
GT	C	0.04%
WBS	A	0.04%
SSNC	B	0.04%
TPR	B	0.04%
PBF	D	0.04%
ZBRA	B	0.04%
HOLX	D	0.04%
UDR	B	0.04%
DVA	B	0.04%
EXR	D	0.04%
UTHR	C	0.04%
WRB	A	0.04%
STWD	C	0.04%
SNV	B	0.04%
INGR	B	0.04%
ABG	B	0.04%
TMHC	B	0.04%
J	F	0.04%
ON	D	0.04%
REG	B	0.04%
APA	D	0.04%
CDW	F	0.04%
SNX	C	0.04%
APTV	D	0.04%
CCK	C	0.04%
NWL	B	0.04%
TDY	B	0.04%
KSS	F	0.04%
FAF	A	0.04%
MGM	D	0.04%
CASY	A	0.04%
EXPD	D	0.04%
LKQ	D	0.04%
SLG	B	0.04%
MRNA	F	0.04%
OGE	B	0.04%
AIZ	A	0.04%
TTWO	A	0.04%
CCEP	C	0.04%
BFH	B	0.04%
OVV	B	0.04%
EWBC	A	0.04%
EME	C	0.04%
TXT	D	0.04%
GPI	A	0.04%
AR	B	0.04%
IPG	D	0.04%
HSY	F	0.04%
MTZ	B	0.04%
MPW	F	0.04%
SNA	A	0.04%
DAL	C	0.04%
AME	A	0.04%
PK	B	0.03%
OLN	D	0.03%
ICLR	D	0.03%
COIN	C	0.03%
ELAN	D	0.03%
GL	B	0.03%
CMC	B	0.03%
ALV	C	0.03%
DASH	A	0.03%
MAN	D	0.03%
CLF	F	0.03%
KRC	C	0.03%
WTFC	A	0.03%
GAP	C	0.03%
BRO	B	0.03%
AXTA	A	0.03%
DAR	C	0.03%
AGCO	D	0.03%
OSK	B	0.03%
WTRG	B	0.03%
SCI	B	0.03%
VLY	B	0.03%
LBRDK	C	0.03%
CTLT	B	0.03%
RIG	D	0.03%
ALSN	B	0.03%
ODFL	B	0.03%
JBHT	C	0.03%
BAH	F	0.03%
CAR	C	0.03%
TRMB	B	0.03%
GXO	B	0.03%
GNRC	B	0.03%
ZM	B	0.03%
XYL	D	0.03%
WU	D	0.03%
STE	F	0.03%
LAMR	D	0.03%
CNO	A	0.03%
FOX	A	0.03%
BECN	B	0.03%
PNFP	B	0.03%
CPNG	D	0.03%
FLR	B	0.03%
THO	B	0.03%
CPRT	A	0.03%
PNR	A	0.03%
EW	C	0.03%
FNB	A	0.03%
BPOP	B	0.03%
JWN	C	0.03%
SANM	B	0.03%
FSLR	F	0.03%
NWSA	B	0.03%
CNX	A	0.03%
TRU	D	0.03%
COOP	B	0.03%
CG	A	0.03%
KEYS	A	0.03%
RRX	B	0.03%
PB	A	0.03%
OHI	C	0.03%
AXS	A	0.03%
GEO	B	0.03%
HUBB	B	0.03%
CZR	F	0.03%
AVY	D	0.03%
GPK	C	0.03%
MTH	D	0.03%
LPLA	A	0.03%
SNPS	B	0.03%
WSO	A	0.03%
CMG	B	0.03%
RVTY	F	0.03%
CACI	D	0.03%
BURL	A	0.03%
MNST	C	0.03%
ALB	C	0.03%
MAS	D	0.03%
ARMK	B	0.03%
KNX	B	0.03%
FCNCA	A	0.03%
OGN	D	0.03%
JNPR	F	0.03%
PENN	C	0.03%
FMC	D	0.03%
JHG	A	0.03%
VOYA	B	0.03%
HSIC	B	0.03%
WAL	B	0.03%
AVTR	F	0.03%
ANET	C	0.03%
COHR	B	0.03%
SPOT	B	0.03%
HLT	A	0.03%
DKS	C	0.03%
LVS	C	0.03%
RPM	A	0.03%
MUSA	A	0.03%
IR	B	0.03%
WSM	B	0.03%
HOOD	B	0.03%
RMD	C	0.03%
DTM	B	0.03%
NDAQ	A	0.03%
SWKS	F	0.03%
SF	B	0.03%
CDP	C	0.02%
TKR	D	0.02%
VEEV	C	0.02%
MSM	C	0.02%
BWXT	B	0.02%
WDAY	B	0.02%
ASGN	F	0.02%
MC	C	0.02%
CHRD	D	0.02%
PCH	D	0.02%
RH	B	0.02%
ARES	A	0.02%
BLD	D	0.02%
HP	B	0.02%
GGG	B	0.02%
FDS	B	0.02%
JKHY	D	0.02%
APLE	B	0.02%
CATY	B	0.02%
RIVN	F	0.02%
TTMI	B	0.02%
ALGN	D	0.02%
DK	C	0.02%
SMG	D	0.02%
OUT	A	0.02%
EPR	D	0.02%
LNW	D	0.02%
AIT	A	0.02%
ADNT	F	0.02%
ESNT	D	0.02%
GHC	C	0.02%
POOL	C	0.02%
AVA	A	0.02%
LW	C	0.02%
NDSN	B	0.02%
SFNC	B	0.02%
GATX	A	0.02%
TXRH	C	0.02%
COLD	D	0.02%
HCC	B	0.02%
SIG	B	0.02%
Z	A	0.02%
NSIT	F	0.02%
RUSHA	C	0.02%
FLO	D	0.02%
AAL	B	0.02%
ALLE	D	0.02%
LSTR	D	0.02%
GMS	B	0.02%
CRL	C	0.02%
NJR	A	0.02%
MDU	D	0.02%
KRG	B	0.02%
VAC	B	0.02%
NAVI	C	0.02%
ADC	B	0.02%
HUBG	A	0.02%
HLF	C	0.02%
CC	C	0.02%
MKSI	C	0.02%
NVST	B	0.02%
ALE	A	0.02%
CBT	C	0.02%
OI	C	0.02%
MTD	D	0.02%
PII	D	0.02%
SLGN	A	0.02%
NWE	B	0.02%
FULT	A	0.02%
ST	F	0.02%
ABCB	B	0.02%
CXW	B	0.02%
UHAL	D	0.02%
PAG	B	0.02%
DPZ	C	0.02%
TYL	B	0.02%
AGR	B	0.02%
DY	D	0.02%
DCI	B	0.02%
VMI	B	0.02%
PLXS	B	0.02%
CHKP	D	0.02%
WKC	D	0.02%
GRAB	B	0.02%
KBR	F	0.02%
REZI	A	0.02%
HRI	B	0.02%
MIDD	C	0.02%
HOMB	A	0.02%
WAT	B	0.02%
FHB	A	0.02%
ITT	A	0.02%
AGO	B	0.02%
MELI	D	0.02%
UMBF	B	0.02%
UNFI	A	0.02%
DECK	A	0.02%
BTU	B	0.02%
SAIC	F	0.02%
TRN	C	0.02%
SR	A	0.02%
SLVM	B	0.02%
AVNT	B	0.02%
MHO	D	0.02%
PNM	F	0.02%
SEM	B	0.02%
BC	C	0.02%
NVT	B	0.02%
CW	B	0.02%
AYI	B	0.02%
SCCO	F	0.02%
COLB	A	0.02%
PHIN	A	0.02%
SM	B	0.02%
PRI	A	0.02%
LYV	A	0.02%
VRT	B	0.02%
OGS	A	0.02%
MAT	D	0.02%
SEE	C	0.02%
CR	A	0.02%
FL	F	0.02%
ELS	C	0.02%
LII	A	0.02%
GDDY	A	0.02%
HOG	D	0.02%
SBAC	D	0.02%
LITE	B	0.02%
CBOE	B	0.02%
G	B	0.02%
ADSK	A	0.02%
TER	D	0.02%
NOV	C	0.02%
JAZZ	B	0.02%
ATR	B	0.02%
POST	C	0.02%
NNN	D	0.02%
KMPR	B	0.02%
CUBE	D	0.02%
EXEL	B	0.02%
BKU	A	0.02%
LULU	C	0.02%
CE	F	0.02%
TNL	A	0.02%
RNR	C	0.02%
SLM	A	0.02%
AAP	C	0.02%
MTG	C	0.02%
IT	C	0.02%
CBSH	A	0.02%
BXMT	C	0.02%
TCBI	B	0.02%
OZK	B	0.02%
UFPI	B	0.02%
INCY	C	0.02%
CDNS	B	0.02%
MSCI	C	0.02%
GBCI	B	0.02%
XPO	B	0.02%
PRGO	B	0.02%
FLS	B	0.02%
FBIN	D	0.02%
RHI	B	0.02%
KEX	C	0.02%
IEX	B	0.02%
PVH	C	0.02%
AMG	B	0.02%
RDN	C	0.02%
MUR	D	0.02%
SBRA	C	0.02%
VLTO	D	0.02%
FFIV	B	0.02%
GME	C	0.02%
HWC	B	0.02%
IDA	A	0.02%
BCC	B	0.02%
ANSS	B	0.02%
HIW	D	0.02%
ASB	B	0.02%
DEI	B	0.02%
THG	A	0.02%
SON	D	0.02%
SKX	D	0.02%
SOFI	A	0.02%
CWK	B	0.02%
AKAM	D	0.02%
BKH	A	0.02%
KBH	D	0.02%
CIEN	B	0.02%
POR	C	0.02%
CSGP	D	0.02%
AMH	D	0.02%
ABM	B	0.02%
ILMN	D	0.02%
CADE	B	0.02%
EL	F	0.02%
EHC	B	0.02%
LPX	B	0.02%
UBSI	B	0.02%
MAC	B	0.02%
VSCO	B	0.02%
TPH	D	0.02%
CLH	B	0.02%
NFG	A	0.02%
BBWI	D	0.02%
MLI	C	0.02%
HII	D	0.02%
ULTA	F	0.02%
ONB	B	0.02%
SSB	B	0.02%
HRB	D	0.02%
FTI	A	0.02%
BIO	D	0.02%
TGNA	B	0.02%
AGNC	D	0.02%
EVR	B	0.02%
GNW	A	0.02%
SWX	B	0.02%
DOX	D	0.02%
CUZ	B	0.02%
NXST	C	0.02%
FRT	B	0.02%
CFR	B	0.02%
AMN	F	0.01%
FIVE	F	0.01%
CNXC	F	0.01%
HELE	C	0.01%
CLVT	F	0.01%
NUS	D	0.01%
VSAT	F	0.01%
JELD	F	0.01%
HEI	B	0.01%
OPCH	D	0.01%
BGS	F	0.01%
STNE	F	0.01%
ZG	A	0.01%
GTN	F	0.01%
XP	F	0.01%
OPEN	D	0.01%
WSC	D	0.01%
AMR	C	0.01%
ODP	F	0.01%
DXCM	D	0.01%
ARCB	C	0.01%
SNOW	C	0.01%
IGT	F	0.01%
ACHC	F	0.01%
DIOD	D	0.01%
CRI	D	0.01%
TROX	D	0.01%
MLKN	D	0.01%
NSP	D	0.01%
HPP	F	0.01%
LGIH	D	0.01%
CBRL	C	0.01%
HEI	B	0.01%
CPRI	F	0.01%
UA	C	0.01%
ATKR	C	0.01%
VSTS	C	0.01%
RLJ	C	0.01%
AMKR	D	0.01%
UAA	C	0.01%
NWS	B	0.01%
OMI	F	0.01%
EGP	F	0.01%
PDCO	D	0.01%
URBN	C	0.01%
SITE	D	0.01%
ARI	C	0.01%
BXC	B	0.01%
VSH	D	0.01%
ENOV	C	0.01%
CSTM	F	0.01%
AXL	C	0.01%
W	F	0.01%
DRH	B	0.01%
DAN	D	0.01%
PMT	D	0.01%
UVV	B	0.01%
LXP	D	0.01%
CCS	D	0.01%
CABO	C	0.01%
CRC	B	0.01%
CGNX	C	0.01%
RYN	D	0.01%
ASO	F	0.01%
ASH	D	0.01%
BMRN	D	0.01%
ANDE	D	0.01%
ENTG	D	0.01%
TEX	D	0.01%
LFUS	F	0.01%
EEFT	B	0.01%
JBGS	D	0.01%
THS	D	0.01%
WEX	D	0.01%
PINC	B	0.01%
HTZ	C	0.01%
UNIT	B	0.01%
FUL	F	0.01%
PFSI	D	0.01%
FND	C	0.01%
IDXX	F	0.01%
FR	C	0.01%
AEO	F	0.01%
BYD	C	0.01%
APAM	B	0.01%
MTCH	D	0.01%
SAIA	B	0.01%
OKTA	C	0.01%
NOMD	D	0.01%
RUN	F	0.01%
KMT	B	0.01%
SPB	C	0.01%
TPX	B	0.01%
LECO	B	0.01%
PECO	A	0.01%
PTC	A	0.01%
GEF	A	0.01%
LCII	C	0.01%
ENS	D	0.01%
FCN	D	0.01%
ATI	D	0.01%
XRX	F	0.01%
PPBI	B	0.01%
ABNB	C	0.01%
UCB	A	0.01%
CNM	D	0.01%
SBH	C	0.01%
ESI	A	0.01%
ABR	C	0.01%
WH	B	0.01%
CIVI	D	0.01%
MMS	F	0.01%
RRC	B	0.01%
AM	A	0.01%
SIGI	C	0.01%
BCO	D	0.01%
BOKF	B	0.01%
FIBK	A	0.01%
GNTX	C	0.01%
ALIT	C	0.01%
WLK	D	0.01%
MTDR	B	0.01%
RLI	B	0.01%
STAG	F	0.01%
ARCH	B	0.01%
BDN	C	0.01%
AUB	B	0.01%
EPAM	C	0.01%
VYX	B	0.01%
GTLS	B	0.01%
WERN	C	0.01%
VNT	B	0.01%
FTNT	C	0.01%
IAC	D	0.01%
RXO	C	0.01%
TTC	D	0.01%
SEIC	B	0.01%
FFBC	A	0.01%
LEG	F	0.01%
AOS	F	0.01%
WST	C	0.01%
INDB	B	0.01%
RGLD	C	0.01%
ESGR	B	0.01%
REXR	F	0.01%
HE	C	0.01%
KNF	A	0.01%
MTN	C	0.01%
WWD	B	0.01%
IRT	A	0.01%
APG	B	0.01%
TFX	F	0.01%
ESAB	B	0.01%
WYNN	D	0.01%
UHAL	D	0.0%
SEDG	F	0.0%
SMCI	F	0.0%
LBRDA	C	0.0%
PARR	D	0.0%

PRF Underweight 20 Positions Relative to VCEB

Symbol	Grade	Weight
DT	C	-0.19%
WEST	C	-0.06%
STLA	F	-0.04%
VRSN	F	-0.03%
VOD	F	-0.03%
BABA	D	-0.02%
DB	D	-0.02%
HSBC	B	-0.02%
GSK	F	-0.02%
AZN	D	-0.02%
EXP	A	-0.01%
WB	D	-0.01%
BMO	A	-0.01%
CM	A	-0.01%
BNS	A	-0.01%
TD	F	-0.01%
NWG	C	-0.01%
MUFG	B	-0.01%
RY	A	-0.01%
DELL	C	-0.01%