SHUS vs. VCEB ETF Comparison

Comparison of Syntax Stratified U.S. Total Market Hedged ETF (SHUS) to Vanguard ESG U.S. Corporate Bond ETF (VCEB)

SHUS

Syntax Stratified U.S. Total Market Hedged ETF

SHUS Description

The investment seeks to obtain capital growth that meets or exceeds the performance of the S&P Composite 1500® Index over a full market cycle by investing in ETFs or underlying securities that provide Stratified WeightTM U.S. total equity market exposure to companies in the 1500 while seeking risk-managed growth via a defined risk hedging process. The fund will also invest in index options for risk management purposes and to seek to generate additional returns. Syntax?s Stratified Weight? is designed to correct for business risk concentrations that regularly occur in cap-weighted indices and equal-weighted indices.

Grade (RS Rating)

Last Trade

$44.29

Average Daily Volume

2,444

Number of Holdings ^*

500

* 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	SHUS	VCEB
30 Days	2.26%	-0.25%
60 Days	3.81%	-2.76%
90 Days	5.24%	-1.73%
12 Months	15.89%	7.45%

210 Overlapping Holdings

Symbol	Grade	Weight in SHUS	Weight in VCEB	Overlap
A	D	0.15%	0.02%	0.02%
AAPL	C	0.49%	0.01%	0.01%
ABBV	D	0.24%	0.03%	0.03%
ABT	B	0.06%	0.03%	0.03%
ACGL	D	0.14%	0.03%	0.03%
ADBE	C	0.15%	0.01%	0.01%
ADI	D	0.22%	0.01%	0.01%
ADM	D	0.36%	0.02%	0.02%
ADP	B	0.21%	0.03%	0.03%
AFL	B	0.2%	0.05%	0.05%
AIG	B	0.19%	0.01%	0.01%
AJG	B	0.03%	0.02%	0.02%
AMAT	F	0.17%	0.01%	0.01%
AMGN	D	0.23%	0.01%	0.01%
AMP	A	0.09%	0.03%	0.03%
AMT	D	0.06%	0.01%	0.01%
AMZN	C	0.21%	0.01%	0.01%
AON	A	0.04%	0.01%	0.01%
APD	A	0.05%	0.02%	0.02%
APH	A	0.18%	0.02%	0.02%
ARE	D	0.1%	0.01%	0.01%
AVGO	D	0.22%	0.02%	0.02%
AWK	D	0.32%	0.02%	0.02%
AXP	A	0.05%	0.01%	0.01%
AZO	C	0.15%	0.04%	0.04%
BAC	A	0.12%	0.02%	0.02%
BAX	D	0.05%	0.02%	0.02%
BDX	F	0.05%	0.03%	0.03%
BEN	C	0.08%	0.02%	0.02%
BG	F	0.36%	0.03%	0.03%
BIIB	F	0.24%	0.01%	0.01%
BK	A	0.11%	0.01%	0.01%
BKNG	A	0.13%	0.02%	0.02%
BLK	C	0.09%	0.02%	0.02%
BMY	B	0.25%	0.03%	0.03%
BR	A	0.11%	0.02%	0.02%
BSX	B	0.06%	0.01%	0.01%
BWA	D	0.41%	0.03%	0.03%
BXP	D	0.11%	0.01%	0.01%
C	A	0.13%	0.01%	0.01%
CAG	D	0.21%	0.01%	0.01%
CAH	B	0.19%	0.02%	0.02%
CARR	D	0.08%	0.02%	0.02%
CAT	B	0.14%	0.01%	0.01%
CB	C	0.14%	0.01%	0.01%
CCI	D	0.06%	0.01%	0.01%
CF	B	0.09%	0.02%	0.02%
CFG	B	0.05%	0.03%	0.03%
CHTR	C	0.46%	0.02%	0.02%
CI	F	0.18%	0.01%	0.01%
CMCSA	B	0.51%	0.01%	0.01%
CME	A	0.04%	0.02%	0.02%
CMI	A	0.08%	0.02%	0.02%
COF	B	0.69%	0.01%	0.01%
CPB	D	0.2%	0.02%	0.02%
CPT	B	0.1%	0.04%	0.04%
CRM	B	0.35%	0.02%	0.02%
CSCO	B	0.21%	0.02%	0.02%
CTAS	B	0.17%	0.04%	0.04%
CVS	D	0.68%	0.01%	0.01%
DD	D	0.05%	0.06%	0.05%
DE	A	0.13%	0.02%	0.02%
DELL	C	0.17%	0.01%	0.01%
DFS	B	0.68%	0.01%	0.01%
DG	F	0.17%	0.03%	0.03%
DGX	A	0.16%	0.03%	0.03%
DHR	F	0.1%	0.01%	0.01%
DIS	B	0.2%	0.01%	0.01%
DLR	B	0.26%	0.01%	0.01%
DLTR	F	0.17%	0.02%	0.02%
DOC	D	0.11%	0.03%	0.03%
DOW	F	0.07%	0.01%	0.01%
EA	A	0.48%	0.01%	0.01%
EBAY	D	0.22%	0.01%	0.01%
EFX	F	0.04%	0.02%	0.02%
EG	C	0.14%	0.03%	0.03%
EMN	D	0.05%	0.02%	0.02%
EQIX	A	0.26%	0.03%	0.03%
EQR	B	0.1%	0.03%	0.03%
ETN	A	0.26%	0.03%	0.03%
EXPE	B	0.12%	0.04%	0.04%
FDX	B	0.07%	0.01%	0.01%
FIS	C	0.05%	0.01%	0.01%
FITB	A	0.05%	0.02%	0.02%
FOXA	B	0.1%	0.01%	0.01%
FTV	C	0.03%	0.03%	0.03%
GILD	C	0.24%	0.01%	0.01%
GIS	D	0.21%	0.03%	0.03%
GLW	B	0.19%	0.02%	0.02%
GM	B	0.24%	0.01%	0.01%
GOOGL	C	0.22%	0.02%	0.02%
GPN	B	0.04%	0.01%	0.01%
GS	A	0.25%	0.01%	0.01%
GWW	B	0.13%	0.04%	0.04%
HAS	D	0.25%	0.03%	0.03%
HBAN	A	0.05%	0.02%	0.02%
HCA	F	0.33%	0.02%	0.02%
HD	A	0.25%	0.01%	0.01%
HIG	B	0.14%	0.02%	0.02%
HPE	B	0.19%	0.01%	0.01%
HPQ	B	0.34%	0.01%	0.01%
HRL	D	0.36%	0.02%	0.02%
HST	C	0.11%	0.02%	0.02%
HUM	C	0.26%	0.01%	0.01%
IBM	C	0.33%	0.02%	0.02%
ICE	C	0.04%	0.01%	0.01%
IFF	D	0.05%	0.03%	0.03%
INTC	D	0.16%	0.01%	0.01%
ITW	B	0.17%	0.03%	0.03%
JNJ	D	0.23%	0.01%	0.01%
JPM	A	0.12%	0.01%	0.01%
K	A	0.18%	0.03%	0.03%
KDP	D	0.24%	0.01%	0.01%
KEY	B	0.06%	0.01%	0.01%
KLAC	D	0.17%	0.01%	0.01%
KMB	D	0.41%	0.04%	0.04%
KO	D	0.24%	0.01%	0.01%
LEN	D	0.24%	0.04%	0.04%
LH	C	0.16%	0.03%	0.03%
LLY	F	0.23%	0.03%	0.03%
LOW	D	0.25%	0.01%	0.01%
LUV	C	0.25%	0.01%	0.01%
MA	C	0.05%	0.03%	0.03%
MAR	B	0.12%	0.01%	0.01%
MCD	D	0.49%	0.01%	0.01%
MCHP	D	0.13%	0.04%	0.04%
MCK	B	0.18%	0.02%	0.02%
MDLZ	F	0.18%	0.01%	0.01%
MDT	D	0.06%	0.05%	0.05%
MET	A	0.21%	0.01%	0.01%
MKC	D	0.21%	0.02%	0.02%
MLM	B	0.17%	0.02%	0.02%
MMC	B	0.03%	0.04%	0.03%
MMM	D	0.17%	0.01%	0.01%
MOS	F	0.08%	0.06%	0.06%
MRK	F	0.24%	0.01%	0.01%
MS	A	0.26%	0.01%	0.01%
MSFT	F	0.32%	0.01%	0.01%
MSI	B	0.49%	0.01%	0.01%
MTB	A	0.06%	0.07%	0.06%
MU	D	0.15%	0.03%	0.03%
NEM	D	0.24%	0.02%	0.02%
NKE	D	0.33%	0.01%	0.01%
NOW	A	0.22%	0.04%	0.04%
NTAP	C	0.17%	0.02%	0.02%
NTRS	A	0.08%	0.03%	0.03%
NVDA	C	0.13%	0.01%	0.01%
NVR	D	0.3%	0.03%	0.03%
NXPI	D	0.23%	0.01%	0.01%
O	D	0.06%	0.02%	0.02%
OMC	C	0.33%	0.02%	0.02%
ORCL	B	0.34%	0.02%	0.02%
ORLY	B	0.14%	0.03%	0.03%
OTIS	C	0.08%	0.04%	0.04%
PEP	F	0.17%	0.01%	0.01%
PFE	D	0.24%	0.01%	0.01%
PG	A	0.41%	0.01%	0.01%
PGR	A	0.19%	0.05%	0.05%
PH	A	0.08%	0.01%	0.01%
PLD	D	0.06%	0.01%	0.01%
PNC	B	0.06%	0.01%	0.01%
PPG	F	0.07%	0.03%	0.03%
PRU	A	0.2%	0.01%	0.01%
PWR	A	0.4%	0.03%	0.03%
PYPL	B	0.06%	0.01%	0.01%
QCOM	F	0.22%	0.01%	0.01%
QRVO	F	0.21%	0.02%	0.02%
REGN	F	0.23%	0.02%	0.02%
RF	A	0.06%	0.03%	0.03%
RJF	A	0.25%	0.02%	0.02%
RL	B	0.32%	0.02%	0.02%
ROP	B	0.03%	0.03%	0.03%
RSG	A	0.18%	0.01%	0.01%
SBUX	A	0.48%	0.02%	0.02%
SCHW	B	0.25%	0.01%	0.01%
SHW	A	0.06%	0.02%	0.02%
SJM	D	0.21%	0.03%	0.03%
SPG	B	0.06%	0.01%	0.01%
STT	A	0.11%	0.01%	0.01%
SWK	D	0.26%	0.02%	0.02%
SYF	B	0.68%	0.03%	0.03%
SYK	C	0.12%	0.01%	0.01%
SYY	B	0.73%	0.01%	0.01%
T	A	0.33%	0.01%	0.01%
TFC	A	0.05%	0.01%	0.01%
TGT	F	0.17%	0.01%	0.01%
TJX	A	0.71%	0.07%	0.07%
TMO	F	0.14%	0.01%	0.01%
TMUS	B	0.33%	0.01%	0.01%
TRV	B	0.14%	0.02%	0.02%
TSN	B	0.35%	0.01%	0.01%
TT	A	0.08%	0.02%	0.02%
TXN	C	0.22%	0.01%	0.01%
UHS	D	0.32%	0.02%	0.02%
UNH	C	0.25%	0.01%	0.01%
UPS	C	0.08%	0.01%	0.01%
USB	A	0.05%	0.01%	0.01%
V	A	0.04%	0.02%	0.02%
VMC	B	0.17%	0.02%	0.02%
VRSK	A	0.04%	0.04%	0.04%
VRSN	F	0.27%	0.03%	0.03%
VTR	C	0.11%	0.02%	0.02%
VTRS	A	0.24%	0.01%	0.01%
VZ	C	0.32%	0.02%	0.02%
WAB	B	0.13%	0.03%	0.03%
WBA	F	0.63%	0.02%	0.02%
WELL	A	0.11%	0.01%	0.01%
WM	A	0.18%	0.01%	0.01%
ZBH	C	0.12%	0.03%	0.03%
ZTS	D	0.25%	0.01%	0.01%

SHUS Overweight 290 Positions Relative to VCEB

Symbol	Grade	Weight
CVX	A	0.75%
XOM	B	0.75%
KR	B	0.73%
WMT	A	0.72%
ROST	C	0.71%
COST	B	0.7%
DPZ	C	0.52%
PSX	C	0.5%
DRI	B	0.5%
YUM	B	0.5%
L	A	0.49%
EL	F	0.49%
VLO	C	0.49%
CMG	B	0.49%
BRK.A	B	0.49%
MPC	D	0.48%
TTWO	A	0.48%
MTCH	D	0.46%
META	D	0.46%
CLX	B	0.41%
KVUE	A	0.41%
CHD	B	0.41%
VST	B	0.4%
CL	D	0.4%
APTV	D	0.39%
J	F	0.39%
CEG	D	0.38%
JBL	B	0.37%
PM	B	0.35%
BKR	B	0.35%
MO	A	0.35%
SLB	C	0.34%
SNPS	B	0.34%
IPG	D	0.33%
CDNS	B	0.33%
HAL	C	0.33%
ATO	A	0.32%
NI	A	0.32%
TPR	B	0.32%
GRMN	B	0.32%
NRG	B	0.32%
AES	F	0.31%
LULU	C	0.3%
FCX	D	0.29%
EXC	C	0.29%
DECK	A	0.29%
UAL	A	0.28%
STLD	B	0.27%
TSLA	B	0.27%
DAL	C	0.27%
HUBB	B	0.26%
GDDY	A	0.26%
AKAM	D	0.26%
STZ	D	0.25%
PHM	D	0.25%
MOH	F	0.25%
KMI	A	0.25%
MNST	C	0.25%
ETR	B	0.25%
TAP	C	0.25%
SNA	A	0.25%
INCY	C	0.25%
CNP	B	0.25%
ENPH	F	0.25%
NUE	C	0.25%
PEG	A	0.25%
CNC	D	0.25%
AEP	D	0.24%
D	C	0.24%
TRGP	B	0.24%
OKE	A	0.24%
FE	C	0.24%
ED	D	0.24%
NEE	D	0.24%
WMB	A	0.24%
ELV	F	0.24%
F	C	0.24%
DTE	C	0.24%
CTLT	B	0.24%
EIX	B	0.24%
VRTX	F	0.23%
MRNA	F	0.23%
DHI	D	0.23%
LW	C	0.22%
DAY	B	0.22%
NFLX	A	0.22%
PLTR	B	0.22%
CPRT	A	0.22%
ON	D	0.22%
GOOG	C	0.22%
KHC	F	0.21%
ANET	C	0.21%
AOS	F	0.21%
SWKS	F	0.21%
PAYX	C	0.21%
PAYC	B	0.21%
TYL	B	0.21%
MPWR	F	0.21%
IR	B	0.2%
IEX	B	0.2%
PARA	C	0.2%
FFIV	B	0.2%
ERIE	D	0.2%
AIZ	A	0.2%
INTU	C	0.2%
HSIC	B	0.2%
FSLR	F	0.2%
KEYS	A	0.2%
PFG	D	0.2%
TEL	B	0.19%
XYL	D	0.19%
MAS	D	0.19%
WBD	C	0.19%
BBWI	D	0.19%
PNR	A	0.19%
ALL	A	0.19%
BLDR	D	0.19%
GL	B	0.19%
JNPR	F	0.19%
CRWD	B	0.18%
EQT	B	0.18%
GEV	B	0.18%
ROL	B	0.18%
COR	B	0.18%
MHK	D	0.18%
ANSS	B	0.17%
GE	D	0.17%
FTNT	C	0.17%
DOV	A	0.17%
GEN	B	0.17%
WY	D	0.17%
BBY	D	0.17%
CTRA	B	0.17%
PTC	A	0.17%
STX	D	0.17%
WDC	D	0.17%
HSY	F	0.17%
ULTA	F	0.17%
PANW	C	0.16%
GD	F	0.16%
DVN	F	0.16%
BA	F	0.16%
TXT	D	0.16%
HON	B	0.16%
ADSK	A	0.16%
TER	D	0.16%
TECH	D	0.15%
GPC	D	0.15%
WAT	B	0.15%
SMCI	F	0.15%
MTD	D	0.14%
CRL	C	0.14%
CINF	A	0.14%
URI	B	0.14%
AMD	F	0.14%
KMX	B	0.14%
LKQ	D	0.14%
IT	C	0.13%
EPAM	C	0.13%
POOL	C	0.13%
WFC	A	0.13%
CTSH	B	0.13%
ACN	C	0.13%
ZBRA	B	0.13%
LDOS	C	0.13%
WRB	A	0.13%
IQV	D	0.13%
HLT	A	0.12%
ABNB	C	0.12%
STE	F	0.12%
ISRG	A	0.12%
CDW	F	0.12%
BALL	D	0.12%
FAST	B	0.12%
TSCO	D	0.12%
PCAR	B	0.12%
AMCR	D	0.12%
AME	A	0.12%
DVA	B	0.11%
EXR	D	0.11%
UBER	D	0.11%
HOLX	D	0.1%
PODD	C	0.1%
NWSA	B	0.1%
NWS	B	0.1%
RVTY	F	0.1%
ESS	B	0.1%
INVH	D	0.1%
FOX	A	0.1%
UDR	B	0.1%
GEHC	F	0.1%
ALGN	D	0.1%
MAA	B	0.1%
AVB	B	0.1%
PSA	D	0.1%
AXON	A	0.09%
EXPD	D	0.09%
KKR	A	0.09%
CCL	B	0.09%
CHRW	C	0.09%
NCLH	B	0.09%
IVZ	B	0.09%
LYV	A	0.09%
RMD	C	0.09%
DXCM	D	0.09%
IDXX	F	0.09%
SO	D	0.08%
PPL	B	0.08%
EVRG	A	0.08%
LNT	A	0.08%
AEE	A	0.08%
JCI	C	0.08%
GNRC	B	0.08%
UNP	C	0.08%
WYNN	D	0.08%
NSC	B	0.08%
LMT	D	0.08%
HII	D	0.08%
NOC	D	0.08%
BX	A	0.08%
RTX	C	0.08%
ODFL	B	0.08%
LVS	C	0.08%
JBHT	C	0.08%
CSX	B	0.08%
CTVA	C	0.08%
LHX	C	0.08%
FMC	D	0.08%
TROW	B	0.08%
RCL	A	0.08%
LYB	F	0.07%
SW	A	0.07%
FANG	D	0.07%
OXY	D	0.07%
CZR	F	0.07%
COP	C	0.07%
MGM	D	0.07%
MRO	B	0.07%
EOG	A	0.07%
APA	D	0.07%
HES	B	0.07%
PNW	B	0.07%
CE	F	0.07%
ALLE	D	0.07%
DUK	C	0.07%
WEC	A	0.07%
ES	D	0.07%
PCG	A	0.07%
SRE	A	0.07%
XEL	A	0.07%
CMS	C	0.07%
HWM	A	0.07%
FI	A	0.06%
EW	C	0.06%
IP	B	0.06%
KIM	A	0.06%
REG	B	0.06%
AVY	D	0.06%
FRT	B	0.06%
SBAC	D	0.06%
VICI	C	0.06%
PKG	A	0.06%
IRM	D	0.06%
TDG	D	0.06%
SOLV	C	0.05%
ECL	D	0.05%
WST	C	0.05%
TFX	F	0.05%
ALB	C	0.05%
JKHY	D	0.05%
WTW	B	0.04%
MCO	B	0.04%
CBRE	B	0.04%
CSGP	D	0.04%
SPGI	C	0.04%
CBOE	B	0.04%
FDS	B	0.04%
NDAQ	A	0.04%
CPAY	A	0.04%
MKTX	D	0.04%
LIN	D	0.04%
MSCI	C	0.04%
ROK	B	0.03%
FICO	B	0.03%
VLTO	D	0.03%
EMR	A	0.03%
NDSN	B	0.03%
TRMB	B	0.03%
TDY	B	0.03%
BRO	B	0.03%

SHUS Underweight 35 Positions Relative to VCEB

Symbol	Grade	Weight
DT	C	-0.19%
WEST	C	-0.06%
EQH	B	-0.05%
STLA	F	-0.04%
CMA	A	-0.03%
BHF	B	-0.03%
ALLY	C	-0.03%
VOD	F	-0.03%
HUN	F	-0.02%
LEA	D	-0.02%
XRAY	F	-0.02%
CSL	C	-0.02%
VFC	C	-0.02%
BABA	D	-0.02%
DB	D	-0.02%
HSBC	B	-0.02%
GSK	F	-0.02%
AZN	D	-0.02%
EXP	A	-0.01%
GLPI	C	-0.01%
WB	D	-0.01%
MRVL	B	-0.01%
BRX	A	-0.01%
RPRX	D	-0.01%
BMO	A	-0.01%
BERY	B	-0.01%
CM	A	-0.01%
AER	B	-0.01%
BNS	A	-0.01%
AL	B	-0.01%
LRCX	F	-0.01%
TD	F	-0.01%
NWG	C	-0.01%
MUFG	B	-0.01%
RY	A	-0.01%