SSPY vs. VCEB ETF Comparison

Comparison of Syntax Stratified LargeCap ETF (SSPY) to Vanguard ESG U.S. Corporate Bond ETF (VCEB)

SSPY

Syntax Stratified LargeCap ETF

SSPY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies in the Syntax Stratified LargeCap Index (the "index"). Under normal market conditions, the fund generally invests substantially all, and at least 95% of its total assets in the securities comprising the index. The index, which was created by Syntax, LLC, an affiliate of the fund's investment adviser, is the stratified-weight version of the widely used S&P 500® Index and holds the same constituents as the S&P 500.

Grade (RS Rating)

Last Trade

$79.86

Average Daily Volume

2,856

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

$62.63

Average Daily Volume

36,189

Number of Holdings ^*

245

* may have additional holdings in another (foreign) market

Performance

Period	SSPY	VCEB
30 Days	-0.28%	-2.07%
60 Days	0.30%	-3.11%
90 Days	2.89%	-0.97%
12 Months	21.97%	8.27%

210 Overlapping Holdings

Symbol	Grade	Weight in SSPY	Weight in VCEB	Overlap
A	D	0.15%	0.02%	0.02%
AAPL	C	0.5%	0.01%	0.01%
ABBV	F	0.24%	0.03%	0.03%
ABT	B	0.06%	0.03%	0.03%
ACGL	C	0.14%	0.03%	0.03%
ADBE	F	0.16%	0.01%	0.01%
ADI	D	0.22%	0.01%	0.01%
ADM	D	0.37%	0.02%	0.02%
ADP	B	0.21%	0.03%	0.03%
AFL	C	0.2%	0.05%	0.05%
AIG	B	0.2%	0.01%	0.01%
AJG	A	0.03%	0.02%	0.02%
AMAT	F	0.18%	0.01%	0.01%
AMGN	D	0.24%	0.01%	0.01%
AMP	A	0.08%	0.03%	0.03%
AMT	D	0.06%	0.01%	0.01%
AMZN	B	0.22%	0.01%	0.01%
AON	A	0.04%	0.01%	0.01%
APD	A	0.05%	0.02%	0.02%
APH	B	0.19%	0.02%	0.02%
ARE	D	0.11%	0.01%	0.01%
AVGO	C	0.23%	0.02%	0.02%
AWK	C	0.32%	0.02%	0.02%
AXP	A	0.04%	0.01%	0.01%
AZO	C	0.14%	0.04%	0.04%
BAC	A	0.12%	0.02%	0.02%
BAX	F	0.05%	0.02%	0.02%
BDX	F	0.05%	0.03%	0.03%
BEN	C	0.09%	0.02%	0.02%
BG	D	0.37%	0.03%	0.03%
BIIB	F	0.24%	0.01%	0.01%
BK	A	0.11%	0.01%	0.01%
BKNG	A	0.11%	0.02%	0.02%
BLK	A	0.08%	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	A	0.42%	0.03%	0.03%
BXP	D	0.11%	0.01%	0.01%
C	A	0.13%	0.01%	0.01%
CAG	F	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	A	0.09%	0.02%	0.02%
CFG	A	0.06%	0.03%	0.03%
CHTR	B	0.47%	0.02%	0.02%
CI	D	0.19%	0.01%	0.01%
CMCSA	B	0.52%	0.01%	0.01%
CME	A	0.04%	0.02%	0.02%
CMI	A	0.08%	0.02%	0.02%
COF	A	0.7%	0.01%	0.01%
CPB	D	0.2%	0.02%	0.02%
CPT	D	0.11%	0.04%	0.04%
CRM	A	0.35%	0.02%	0.02%
CSCO	B	0.21%	0.02%	0.02%
CTAS	B	0.18%	0.04%	0.04%
CVS	F	0.69%	0.01%	0.01%
DD	D	0.05%	0.06%	0.05%
DE	D	0.13%	0.02%	0.02%
DELL	C	0.17%	0.01%	0.01%
DFS	A	0.69%	0.01%	0.01%
DG	F	0.17%	0.03%	0.03%
DGX	A	0.16%	0.03%	0.03%
DHR	D	0.1%	0.01%	0.01%
DIS	A	0.21%	0.01%	0.01%
DLR	A	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	0.49%	0.01%	0.01%
EBAY	D	0.22%	0.01%	0.01%
EFX	F	0.04%	0.02%	0.02%
EG	D	0.14%	0.03%	0.03%
EMN	C	0.05%	0.02%	0.02%
EQIX	B	0.27%	0.03%	0.03%
EQR	C	0.1%	0.03%	0.03%
ETN	A	0.26%	0.03%	0.03%
EXPE	A	0.12%	0.04%	0.04%
FDX	A	0.07%	0.01%	0.01%
FIS	B	0.05%	0.01%	0.01%
FITB	A	0.06%	0.02%	0.02%
FOXA	A	0.1%	0.01%	0.01%
FTV	D	0.03%	0.03%	0.03%
GILD	B	0.25%	0.01%	0.01%
GIS	D	0.21%	0.03%	0.03%
GLW	B	0.19%	0.02%	0.02%
GM	A	0.25%	0.01%	0.01%
GOOGL	B	0.23%	0.02%	0.02%
GPN	B	0.04%	0.01%	0.01%
GS	A	0.25%	0.01%	0.01%
GWW	A	0.12%	0.04%	0.04%
HAS	D	0.26%	0.03%	0.03%
HBAN	A	0.06%	0.02%	0.02%
HCA	D	0.33%	0.02%	0.02%
HD	A	0.26%	0.01%	0.01%
HIG	C	0.14%	0.02%	0.02%
HPE	B	0.19%	0.01%	0.01%
HPQ	B	0.35%	0.01%	0.01%
HRL	D	0.36%	0.02%	0.02%
HST	D	0.11%	0.02%	0.02%
HUM	F	0.26%	0.01%	0.01%
IBM	D	0.34%	0.02%	0.02%
ICE	D	0.04%	0.01%	0.01%
IFF	D	0.05%	0.03%	0.03%
INTC	C	0.16%	0.01%	0.01%
ITW	B	0.17%	0.03%	0.03%
JNJ	D	0.24%	0.01%	0.01%
JPM	A	0.13%	0.01%	0.01%
K	B	0.18%	0.03%	0.03%
KDP	D	0.24%	0.01%	0.01%
KEY	A	0.06%	0.01%	0.01%
KLAC	F	0.17%	0.01%	0.01%
KMB	C	0.42%	0.04%	0.04%
KO	D	0.25%	0.01%	0.01%
LEN	D	0.25%	0.04%	0.04%
LH	B	0.16%	0.03%	0.03%
LLY	F	0.23%	0.03%	0.03%
LOW	A	0.26%	0.01%	0.01%
LUV	A	0.25%	0.01%	0.01%
MA	A	0.04%	0.03%	0.03%
MAR	A	0.12%	0.01%	0.01%
MCD	D	0.5%	0.01%	0.01%
MCHP	F	0.14%	0.04%	0.04%
MCK	A	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	C	0.04%	0.04%	0.04%
MMM	D	0.17%	0.01%	0.01%
MOS	D	0.08%	0.06%	0.06%
MRK	F	0.24%	0.01%	0.01%
MS	A	0.26%	0.01%	0.01%
MSFT	D	0.32%	0.01%	0.01%
MSI	A	0.49%	0.01%	0.01%
MTB	A	0.06%	0.07%	0.06%
MU	D	0.15%	0.03%	0.03%
NEM	F	0.25%	0.02%	0.02%
NKE	D	0.33%	0.01%	0.01%
NOW	B	0.22%	0.04%	0.04%
NTAP	D	0.17%	0.02%	0.02%
NTRS	A	0.08%	0.03%	0.03%
NVDA	B	0.13%	0.01%	0.01%
NVR	D	0.26%	0.03%	0.03%
NXPI	F	0.23%	0.01%	0.01%
O	D	0.07%	0.02%	0.02%
OMC	C	0.34%	0.02%	0.02%
ORCL	A	0.34%	0.02%	0.02%
ORLY	A	0.14%	0.03%	0.03%
OTIS	D	0.08%	0.04%	0.04%
PEP	F	0.18%	0.01%	0.01%
PFE	F	0.24%	0.01%	0.01%
PG	C	0.42%	0.01%	0.01%
PGR	B	0.19%	0.05%	0.05%
PH	A	0.08%	0.01%	0.01%
PLD	D	0.06%	0.01%	0.01%
PNC	A	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	A	0.06%	0.01%	0.01%
QCOM	F	0.22%	0.01%	0.01%
QRVO	F	0.21%	0.02%	0.02%
REGN	F	0.22%	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	C	0.03%	0.03%	0.03%
RSG	B	0.18%	0.01%	0.01%
SBUX	A	0.48%	0.02%	0.02%
SCHW	A	0.25%	0.01%	0.01%
SHW	B	0.06%	0.02%	0.02%
SJM	F	0.21%	0.03%	0.03%
SPG	A	0.07%	0.01%	0.01%
STT	A	0.12%	0.01%	0.01%
SWK	F	0.27%	0.02%	0.02%
SYF	A	0.69%	0.03%	0.03%
SYK	A	0.12%	0.01%	0.01%
SYY	D	0.75%	0.01%	0.01%
T	A	0.33%	0.01%	0.01%
TFC	A	0.06%	0.01%	0.01%
TGT	D	0.17%	0.01%	0.01%
TJX	A	0.72%	0.07%	0.07%
TMO	D	0.14%	0.01%	0.01%
TMUS	A	0.33%	0.01%	0.01%
TRV	A	0.14%	0.02%	0.02%
TSN	A	0.36%	0.01%	0.01%
TT	A	0.07%	0.02%	0.02%
TXN	C	0.23%	0.01%	0.01%
UHS	D	0.32%	0.02%	0.02%
UNH	B	0.26%	0.01%	0.01%
UPS	C	0.09%	0.01%	0.01%
USB	B	0.06%	0.01%	0.01%
V	A	0.04%	0.02%	0.02%
VMC	B	0.17%	0.02%	0.02%
VRSK	B	0.04%	0.04%	0.04%
VRSN	D	0.27%	0.03%	0.03%
VTR	C	0.11%	0.02%	0.02%
VTRS	A	0.24%	0.01%	0.01%
VZ	C	0.33%	0.02%	0.02%
WAB	B	0.13%	0.03%	0.03%
WBA	F	0.64%	0.02%	0.02%
WELL	A	0.11%	0.01%	0.01%
WM	B	0.18%	0.01%	0.01%
ZBH	C	0.12%	0.03%	0.03%
ZTS	D	0.25%	0.01%	0.01%

SSPY Overweight 290 Positions Relative to VCEB

Symbol	Grade	Weight
XOM	B	0.77%
CVX	A	0.76%
KR	B	0.74%
WMT	A	0.73%
ROST	D	0.72%
COST	B	0.71%
DPZ	C	0.52%
PSX	C	0.51%
DRI	B	0.51%
YUM	D	0.51%
VLO	C	0.5%
EL	F	0.5%
CMG	B	0.5%
BRK.A	A	0.5%
MPC	D	0.49%
TTWO	A	0.49%
L	A	0.49%
MTCH	F	0.47%
META	C	0.47%
KVUE	A	0.42%
CHD	A	0.42%
VST	A	0.41%
CL	D	0.41%
CLX	A	0.41%
APTV	F	0.4%
J	D	0.4%
JBL	C	0.38%
CEG	D	0.38%
SLB	C	0.35%
PM	A	0.35%
BKR	A	0.35%
MO	A	0.35%
IPG	F	0.34%
HAL	C	0.34%
SNPS	C	0.34%
ATO	A	0.33%
GRMN	B	0.33%
TPR	A	0.33%
NI	A	0.33%
NRG	B	0.33%
CDNS	B	0.33%
AES	F	0.32%
LULU	C	0.31%
FCX	F	0.3%
EXC	C	0.3%
DECK	A	0.3%
TSLA	B	0.28%
DAL	A	0.28%
UAL	A	0.28%
GDDY	A	0.27%
AKAM	F	0.27%
STLD	B	0.27%
CNP	A	0.26%
HUBB	B	0.26%
ENPH	F	0.26%
NUE	D	0.26%
PEG	C	0.26%
CNC	F	0.26%
WMB	A	0.25%
DTE	C	0.25%
F	C	0.25%
CTLT	C	0.25%
MOH	F	0.25%
EIX	C	0.25%
STZ	D	0.25%
SNA	A	0.25%
PHM	D	0.25%
KMI	A	0.25%
MNST	D	0.25%
ETR	A	0.25%
TAP	A	0.25%
INCY	B	0.25%
MRNA	F	0.24%
DHI	D	0.24%
AEP	C	0.24%
D	C	0.24%
TRGP	A	0.24%
OKE	A	0.24%
FE	C	0.24%
ED	D	0.24%
NEE	C	0.24%
ELV	F	0.24%
PLTR	A	0.23%
CPRT	A	0.23%
ON	F	0.23%
GOOG	B	0.23%
VRTX	C	0.23%
PAYC	B	0.22%
TYL	B	0.22%
NFLX	A	0.22%
LW	C	0.22%
DAY	B	0.22%
MPWR	F	0.22%
FFIV	B	0.21%
KEYS	C	0.21%
ANET	C	0.21%
PFG	C	0.21%
AOS	F	0.21%
KHC	F	0.21%
SWKS	F	0.21%
PAYX	B	0.21%
ALL	A	0.2%
GL	B	0.2%
IEX	B	0.2%
IR	A	0.2%
JNPR	D	0.2%
PARA	C	0.2%
INTU	A	0.2%
AIZ	A	0.2%
ERIE	F	0.2%
HSIC	D	0.2%
FSLR	F	0.2%
MHK	D	0.19%
XYL	D	0.19%
TEL	C	0.19%
MAS	D	0.19%
WBD	B	0.19%
PNR	A	0.19%
BLDR	D	0.19%
BBWI	C	0.19%
HSY	F	0.18%
CRWD	B	0.18%
GEV	A	0.18%
EQT	A	0.18%
ROL	A	0.18%
COR	B	0.18%
HON	A	0.17%
ADSK	B	0.17%
TER	F	0.17%
ANSS	B	0.17%
FTNT	A	0.17%
DOV	A	0.17%
GEN	B	0.17%
BBY	C	0.17%
WY	D	0.17%
CTRA	A	0.17%
GE	D	0.17%
PTC	B	0.17%
STX	D	0.17%
ULTA	D	0.17%
WDC	F	0.17%
PANW	B	0.16%
DVN	F	0.16%
GD	D	0.16%
BA	F	0.16%
TXT	D	0.16%
TECH	D	0.15%
SMCI	F	0.15%
GPC	D	0.15%
WAT	B	0.15%
MTD	F	0.15%
WRB	A	0.14%
IQV	F	0.14%
URI	B	0.14%
CINF	A	0.14%
CRL	D	0.14%
AMD	F	0.14%
KMX	B	0.14%
LKQ	D	0.14%
BALL	D	0.13%
FAST	B	0.13%
PCAR	B	0.13%
CDW	F	0.13%
AMCR	C	0.13%
AME	A	0.13%
POOL	D	0.13%
ACN	C	0.13%
EPAM	B	0.13%
WFC	A	0.13%
CTSH	B	0.13%
ZBRA	B	0.13%
IT	B	0.13%
LDOS	C	0.13%
HLT	A	0.12%
ABNB	C	0.12%
STE	D	0.12%
ISRG	A	0.12%
TSCO	D	0.12%
EXR	C	0.11%
DVA	C	0.11%
PSA	C	0.11%
UBER	C	0.11%
DXCM	C	0.1%
PODD	A	0.1%
HOLX	D	0.1%
NWSA	B	0.1%
IDXX	F	0.1%
NWS	A	0.1%
ESS	A	0.1%
RVTY	D	0.1%
ALGN	D	0.1%
MAA	A	0.1%
INVH	D	0.1%
GEHC	D	0.1%
AVB	A	0.1%
FOX	A	0.1%
UDR	C	0.1%
TROW	A	0.09%
FMC	F	0.09%
LMT	D	0.09%
NOC	D	0.09%
EXPD	D	0.09%
AXON	A	0.09%
RCL	A	0.09%
CCL	A	0.09%
CHRW	A	0.09%
KKR	A	0.09%
NCLH	B	0.09%
LYV	A	0.09%
IVZ	B	0.09%
RMD	C	0.09%
ALLE	D	0.08%
CMS	C	0.08%
PCG	A	0.08%
SO	C	0.08%
SRE	A	0.08%
XEL	A	0.08%
HWM	A	0.08%
PPL	A	0.08%
EVRG	A	0.08%
LNT	A	0.08%
AEE	A	0.08%
TDG	D	0.08%
JCI	A	0.08%
UNP	D	0.08%
NSC	B	0.08%
GNRC	B	0.08%
WYNN	D	0.08%
ODFL	B	0.08%
RTX	D	0.08%
HII	F	0.08%
BX	A	0.08%
LHX	B	0.08%
LVS	C	0.08%
JBHT	B	0.08%
CSX	B	0.08%
CTVA	D	0.08%
LYB	F	0.07%
SW	A	0.07%
FANG	D	0.07%
OXY	F	0.07%
CZR	F	0.07%
COP	C	0.07%
MRO	A	0.07%
MGM	D	0.07%
EOG	A	0.07%
APA	F	0.07%
HES	B	0.07%
PNW	A	0.07%
WEC	A	0.07%
CE	F	0.07%
ES	C	0.07%
DUK	C	0.07%
FI	A	0.06%
EW	C	0.06%
AVY	D	0.06%
IP	A	0.06%
PKG	B	0.06%
REG	A	0.06%
KIM	A	0.06%
FRT	B	0.06%
SBAC	D	0.06%
VICI	C	0.06%
IRM	D	0.06%
FICO	A	0.05%
ECL	D	0.05%
SOLV	C	0.05%
TFX	F	0.05%
WST	C	0.05%
ALB	C	0.05%
JKHY	D	0.05%
BRO	B	0.04%
CBRE	B	0.04%
CSGP	F	0.04%
SPGI	C	0.04%
FDS	A	0.04%
MCO	C	0.04%
CBOE	D	0.04%
MSCI	A	0.04%
NDAQ	A	0.04%
CPAY	A	0.04%
MKTX	C	0.04%
LIN	D	0.04%
VLTO	D	0.03%
ROK	A	0.03%
NDSN	B	0.03%
TDY	B	0.03%
EMR	A	0.03%
TRMB	A	0.03%
WTW	B	0.03%

SSPY Underweight 35 Positions Relative to VCEB

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