VBR vs. AVUV ETF Comparison

Comparison of Vanguard Small-Cap Value ETF - DNQ (VBR) to Avantis U.S. Small Cap Value ETF (AVUV)

VBR

Vanguard Small-Cap Value ETF - DNQ

VBR Description

The investment seeks to track the performance of a benchmark index that measures the investment return of small-capitalization value stocks. The fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Value Index, a broadly diversified index of value stocks of small U.S. companies. 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.

Grade (RS Rating)

Last Trade

$211.66

Average Daily Volume

413,182

Number of Holdings ^*

797

* may have additional holdings in another (foreign) market

AVUV

Avantis U.S. Small Cap Value ETF

AVUV Description

The investment seeks long-term capital appreciation. The fund invests primarily in a diverse group of U.S. small cap companies across market sectors and industry groups. Under normal market conditions, it will invest at least 80% of its assets in securities of small capitalization companies located in the United States. The fund also may invest in derivative instruments such as futures contracts, currency forwards, and swap agreements.

Grade (RS Rating)

Last Trade

$103.08

Average Daily Volume

749,010

Number of Holdings ^*

713

* may have additional holdings in another (foreign) market

Performance

Period	VBR	AVUV
30 Days	6.50%	8.29%
60 Days	11.74%	14.69%
90 Days	13.65%	14.50%
12 Months	39.83%	39.17%

248 Overlapping Holdings

Symbol	Grade	Weight in VBR	Weight in AVUV	Overlap
AAP	F	0.07%	0.21%	0.07%
ABCB	B	0.12%	0.23%	0.12%
ACDC	D	0.0%	0.02%	0.0%
ACT	D	0.03%	0.11%	0.03%
AEO	F	0.11%	0.63%	0.11%
AGO	B	0.11%	0.44%	0.11%
AL	B	0.13%	0.8%	0.13%
ALIT	D	0.09%	0.07%	0.07%
ALK	B	0.16%	0.91%	0.16%
AM	B	0.15%	0.15%	0.15%
AMBC	C	0.01%	0.06%	0.01%
AMCX	D	0.0%	0.04%	0.0%
AMKR	F	0.1%	0.07%	0.07%
ANDE	D	0.05%	0.31%	0.05%
ANF	C	0.21%	0.45%	0.21%
APOG	A	0.04%	0.29%	0.04%
ARCB	C	0.07%	0.34%	0.07%
ARCH	B	0.07%	0.49%	0.07%
AROC	B	0.09%	0.59%	0.09%
ASB	B	0.09%	0.25%	0.09%
ASH	F	0.12%	0.05%	0.05%
ASO	F	0.12%	0.26%	0.12%
ASTE	C	0.02%	0.0%	0.0%
ATKR	D	0.09%	0.37%	0.09%
ATSG	B	0.03%	0.3%	0.03%
AVT	B	0.14%	0.55%	0.14%
AX	B	0.1%	0.51%	0.1%
AXL	D	0.02%	0.13%	0.02%
AXS	A	0.17%	0.4%	0.17%
BANF	B	0.06%	0.0%	0.0%
BANR	B	0.06%	0.27%	0.06%
BCC	B	0.16%	0.86%	0.16%
BFH	B	0.07%	0.4%	0.07%
BGS	F	0.02%	0.11%	0.02%
BHE	B	0.04%	0.28%	0.04%
BHF	B	0.08%	0.45%	0.08%
BHLB	B	0.03%	0.1%	0.03%
BJRI	C	0.01%	0.13%	0.01%
BKD	F	0.04%	0.07%	0.04%
BKE	B	0.04%	0.22%	0.04%
BKU	B	0.08%	0.33%	0.08%
BOH	B	0.07%	0.3%	0.07%
BPOP	D	0.21%	0.21%	0.21%
BRKL	B	0.02%	0.11%	0.02%
BTU	B	0.09%	0.58%	0.09%
CABO	C	0.05%	0.11%	0.05%
CAKE	B	0.05%	0.33%	0.05%
CAL	F	0.02%	0.19%	0.02%
CARS	C	0.03%	0.11%	0.03%
CATY	B	0.08%	0.4%	0.08%
CBRL	D	0.03%	0.16%	0.03%
CBT	B	0.18%	0.8%	0.18%
CC	C	0.09%	0.2%	0.09%
CENT	D	0.01%	0.04%	0.01%
CENTA	D	0.05%	0.22%	0.05%
CHCO	B	0.05%	0.04%	0.04%
CLF	D	0.17%	0.05%	0.05%
CMA	B	0.23%	0.02%	0.02%
CMC	B	0.18%	0.21%	0.18%
CNDT	C	0.01%	0.02%	0.01%
CNO	B	0.1%	0.57%	0.1%
CNX	B	0.13%	0.77%	0.13%
COLB	B	0.16%	0.48%	0.16%
COLM	C	0.04%	0.39%	0.04%
CRC	B	0.12%	0.71%	0.12%
CRCT	D	0.01%	0.04%	0.01%
CRGY	A	0.05%	0.26%	0.05%
CRI	F	0.06%	0.31%	0.06%
CVBF	B	0.07%	0.04%	0.04%
CVI	F	0.02%	0.06%	0.02%
DAN	F	0.04%	0.19%	0.04%
DDS	C	0.05%	0.07%	0.05%
DNOW	C	0.04%	0.1%	0.04%
DXC	C	0.11%	0.67%	0.11%
EBC	B	0.09%	0.03%	0.03%
ECPG	B	0.03%	0.0%	0.0%
EGBN	B	0.01%	0.09%	0.01%
EIG	B	0.03%	0.15%	0.03%
ENS	F	0.12%	0.28%	0.12%
ESGR	B	0.11%	0.32%	0.11%
ESNT	F	0.19%	0.23%	0.19%
FBP	C	0.1%	0.42%	0.1%
FCF	B	0.05%	0.19%	0.05%
FDP	B	0.03%	0.16%	0.03%
FFBC	B	0.07%	0.02%	0.02%
FG	B	0.02%	0.05%	0.02%
FIBK	B	0.07%	0.02%	0.02%
FL	F	0.07%	0.16%	0.07%
FNB	B	0.15%	0.29%	0.15%
FOR	D	0.02%	0.1%	0.02%
FRME	B	0.06%	0.1%	0.06%
FULT	B	0.09%	0.31%	0.09%
FYBR	C	0.25%	0.29%	0.25%
GAP	C	0.15%	0.12%	0.12%
GATX	B	0.14%	0.9%	0.14%
GBX	B	0.04%	0.32%	0.04%
GES	F	0.02%	0.1%	0.02%
GHC	A	0.08%	0.02%	0.02%
GIII	C	0.03%	0.24%	0.03%
GNW	C	0.09%	0.26%	0.09%
GT	C	0.07%	0.48%	0.07%
GVA	A	0.1%	0.25%	0.1%
HCC	A	0.1%	0.68%	0.1%
HEES	B	0.04%	0.28%	0.04%
HMN	B	0.04%	0.01%	0.01%
HOG	F	0.13%	0.63%	0.13%
HOPE	B	0.04%	0.17%	0.04%
HP	C	0.04%	0.52%	0.04%
HTH	C	0.04%	0.06%	0.04%
HTLD	C	0.02%	0.07%	0.02%
HTLF	B	0.03%	0.13%	0.03%
HTZ	D	0.01%	0.04%	0.01%
HUBG	B	0.08%	0.38%	0.08%
HWC	B	0.13%	0.49%	0.13%
HY	F	0.02%	0.09%	0.02%
IBOC	B	0.1%	0.45%	0.1%
IBTX	B	0.06%	0.08%	0.06%
INDB	B	0.07%	0.15%	0.07%
INSW	F	0.04%	0.4%	0.04%
INVA	B	0.03%	0.13%	0.03%
JBLU	C	0.03%	0.28%	0.03%
JELD	F	0.04%	0.21%	0.04%
JWN	C	0.08%	0.38%	0.08%
JXN	B	0.2%	0.89%	0.2%
KALU	C	0.03%	0.18%	0.03%
KBH	C	0.16%	0.71%	0.16%
KELYA	F	0.02%	0.1%	0.02%
KFRC	D	0.03%	0.01%	0.01%
KMT	B	0.06%	0.35%	0.06%
KNF	B	0.15%	0.01%	0.01%
KOP	D	0.02%	0.0%	0.0%
KRO	C	0.01%	0.01%	0.01%
KSS	F	0.06%	0.42%	0.06%
LC	B	0.03%	0.13%	0.03%
LCII	D	0.04%	0.39%	0.04%
LEA	F	0.18%	0.0%	0.0%
LPX	B	0.2%	0.27%	0.2%
LRN	B	0.05%	0.02%	0.02%
LZB	C	0.05%	0.26%	0.05%
M	C	0.12%	0.6%	0.12%
MATV	F	0.03%	0.12%	0.03%
MATX	B	0.14%	1.0%	0.14%
MCY	A	0.05%	0.07%	0.05%
MDU	F	0.15%	0.5%	0.15%
MHO	C	0.06%	0.76%	0.06%
MLI	B	0.24%	0.92%	0.24%
MRC	B	0.03%	0.14%	0.03%
MTG	D	0.19%	0.39%	0.19%
MTH	D	0.21%	0.18%	0.18%
MUR	F	0.14%	0.24%	0.14%
NAVI	F	0.03%	0.15%	0.03%
NBHC	B	0.05%	0.12%	0.05%
NBTB	B	0.06%	0.09%	0.06%
NNI	C	0.04%	0.09%	0.04%
NUS	F	0.01%	0.03%	0.01%
NWBI	B	0.05%	0.11%	0.05%
NX	C	0.04%	0.15%	0.04%
ODP	F	0.03%	0.19%	0.03%
OFG	C	0.06%	0.26%	0.06%
OLPX	F	0.01%	0.01%	0.01%
OMF	A	0.16%	0.21%	0.16%
ONB	B	0.17%	0.39%	0.17%
OXM	F	0.04%	0.19%	0.04%
OZK	B	0.13%	0.53%	0.13%
PBF	F	0.08%	0.29%	0.08%
PCRX	D	0.02%	0.0%	0.0%
PDCO	D	0.05%	0.16%	0.05%
PFS	B	0.07%	0.13%	0.07%
PFSI	D	0.08%	0.23%	0.08%
PHIN	B	0.06%	0.36%	0.06%
PII	F	0.13%	0.35%	0.13%
PINC	B	0.06%	0.31%	0.06%
PLXS	B	0.11%	0.31%	0.11%
PPBI	B	0.07%	0.11%	0.07%
PRA	B	0.02%	0.02%	0.02%
PRG	C	0.06%	0.17%	0.06%
PSMT	C	0.06%	0.37%	0.06%
PTEN	D	0.09%	0.42%	0.09%
PUMP	F	0.02%	0.13%	0.02%
PVH	C	0.16%	0.13%	0.13%
R	A	0.17%	0.72%	0.17%
RDN	D	0.15%	0.65%	0.15%
RGR	F	0.02%	0.04%	0.02%
SAFT	C	0.03%	0.02%	0.02%
SANM	B	0.1%	0.4%	0.1%
SATS	C	0.09%	0.44%	0.09%
SCHL	F	0.02%	0.08%	0.02%
SCL	C	0.05%	0.17%	0.05%
SCS	C	0.03%	0.2%	0.03%
SCSC	C	0.03%	0.18%	0.03%
SEB	F	0.02%	0.08%	0.02%
SF	B	0.26%	0.01%	0.01%
SFBS	B	0.06%	0.08%	0.06%
SFM	A	0.32%	0.7%	0.32%
SFNC	B	0.07%	0.03%	0.03%
SIG	B	0.13%	0.58%	0.13%
SKYW	B	0.09%	0.8%	0.09%
SLM	B	0.14%	0.67%	0.14%
SM	C	0.07%	0.85%	0.07%
SNDR	A	0.03%	0.17%	0.03%
SNV	B	0.18%	0.27%	0.18%
SPNT	C	0.04%	0.2%	0.04%
STBA	C	0.04%	0.16%	0.04%
SUPN	B	0.05%	0.22%	0.05%
SWBI	C	0.01%	0.09%	0.01%
TCBI	B	0.1%	0.29%	0.1%
TDS	B	0.06%	0.53%	0.06%
TEX	C	0.1%	0.55%	0.1%
THG	A	0.14%	0.07%	0.07%
THO	C	0.16%	0.56%	0.16%
TILE	A	0.02%	0.26%	0.02%
TMHC	A	0.2%	0.11%	0.11%
TMP	B	0.02%	0.03%	0.02%
TOWN	C	0.06%	0.14%	0.06%
TPH	D	0.12%	0.38%	0.12%
TRMK	B	0.05%	0.17%	0.05%
TRN	B	0.08%	0.35%	0.08%
TROX	F	0.05%	0.11%	0.05%
TTMI	A	0.05%	0.22%	0.05%
UA	C	0.03%	0.06%	0.03%
UAA	C	0.05%	0.13%	0.05%
UCB	B	0.1%	0.03%	0.03%
UFPI	C	0.22%	0.07%	0.07%
UMBF	B	0.13%	0.56%	0.13%
UNFI	B	0.03%	0.2%	0.03%
URBN	D	0.08%	0.46%	0.08%
USM	B	0.03%	0.17%	0.03%
USNA	C	0.01%	0.05%	0.01%
VC	F	0.04%	0.23%	0.04%
VLY	B	0.11%	0.38%	0.11%
VRTS	B	0.04%	0.07%	0.04%
VSAT	F	0.04%	0.06%	0.04%
VSH	F	0.07%	0.38%	0.07%
VSTO	B	0.03%	0.45%	0.03%
WABC	B	0.04%	0.17%	0.04%
WAFD	C	0.08%	0.32%	0.08%
WAL	B	0.26%	0.11%	0.11%
WD	B	0.1%	0.34%	0.1%
WERN	B	0.07%	0.41%	0.07%
WKC	D	0.05%	0.17%	0.05%
WMK	B	0.03%	0.17%	0.03%
WNC	D	0.02%	0.14%	0.02%
WOR	D	0.04%	0.15%	0.04%
WRLD	C	0.01%	0.03%	0.01%
WSFS	B	0.09%	0.26%	0.09%
WTFC	B	0.21%	0.26%	0.21%
WTM	B	0.12%	0.05%	0.05%
ZION	B	0.2%	0.09%	0.09%

VBR Overweight 549 Positions Relative to AVUV

Symbol	Grade	Weight
SW	B	0.74%
BLDR	D	0.65%
BAH	B	0.61%
CSL	C	0.6%
ATO	A	0.58%
EME	B	0.58%
FCNCA	B	0.57%
NRG	B	0.54%
PNR	B	0.47%
IEX	B	0.47%
TOL	B	0.46%
RS	B	0.46%
THC	B	0.46%
UTHR	B	0.46%
WSM	F	0.45%
RPM	B	0.45%
KIM	A	0.45%
OC	B	0.44%
USFD	B	0.43%
RNR	B	0.41%
AES	F	0.41%
RGA	B	0.41%
ACM	B	0.4%
GLPI	D	0.39%
EQH	B	0.39%
BG	F	0.39%
EMN	D	0.38%
REG	B	0.38%
CPT	C	0.38%
ALLE	C	0.37%
JLL	C	0.37%
JNPR	C	0.37%
FFIV	B	0.37%
JBL	C	0.37%
UHS	D	0.37%
TTEK	C	0.36%
KMX	F	0.35%
PFGC	B	0.35%
ITT	A	0.35%
SJM	D	0.35%
CHRW	B	0.35%
TFX	F	0.34%
NVT	B	0.34%
IPG	F	0.34%
BXP	B	0.33%
EWBC	B	0.33%
HUBB	B	0.33%
CCK	C	0.33%
BJ	B	0.32%
LDOS	A	0.32%
RRX	B	0.32%
FBIN	D	0.32%
CACI	B	0.32%
ATR	B	0.31%
EPAM	C	0.31%
TPR	A	0.31%
SCI	A	0.31%
AIZ	A	0.3%
HII	F	0.3%
OHI	B	0.3%
LKQ	F	0.3%
AA	B	0.29%
TAP	B	0.29%
CG	B	0.29%
PNW	B	0.29%
OVV	D	0.29%
AFG	B	0.29%
ARMK	B	0.29%
HAS	D	0.28%
FRT	C	0.28%
SOLV	C	0.28%
EHC	B	0.28%
ALLY	C	0.28%
QRVO	F	0.28%
Z	B	0.28%
EVR	B	0.27%
HSIC	F	0.27%
STLD	B	0.27%
WTRG	B	0.27%
GL	C	0.27%
JEF	B	0.26%
HRB	D	0.26%
DCI	A	0.26%
GPK	C	0.26%
NNN	D	0.26%
INGR	B	0.26%
PRI	A	0.26%
APA	F	0.26%
MUSA	C	0.26%
EGP	D	0.26%
MOS	C	0.25%
AIT	A	0.25%
MHK	D	0.25%
NYT	B	0.25%
KBR	A	0.25%
GME	C	0.25%
UNM	B	0.25%
APG	B	0.24%
FCN	F	0.24%
FLR	C	0.24%
AGNC	D	0.24%
FMC	D	0.24%
OGE	A	0.24%
ORI	B	0.24%
WCC	B	0.24%
BWA	D	0.24%
DKS	D	0.24%
KNX	B	0.24%
FHN	B	0.24%
ALSN	A	0.24%
BRX	A	0.24%
AYI	A	0.24%
LAD	B	0.24%
SWN	C	0.23%
AXTA	A	0.23%
WBS	B	0.23%
DOC	B	0.23%
CHRD	F	0.23%
SEIC	B	0.23%
MIDD	C	0.22%
IVZ	B	0.22%
ADC	B	0.22%
DTM	A	0.22%
SNX	B	0.22%
CR	A	0.22%
VFC	B	0.22%
NI	A	0.22%
VOYA	B	0.22%
STAG	D	0.21%
VNO	A	0.21%
SAIC	B	0.21%
X	C	0.21%
LUMN	B	0.21%
DINO	F	0.21%
ELAN	D	0.21%
MKSI	D	0.21%
AAL	C	0.21%
RL	B	0.21%
BERY	C	0.21%
FR	D	0.21%
SSB	B	0.21%
FLS	A	0.2%
COHR	B	0.2%
DVA	D	0.2%
CBSH	A	0.2%
G	B	0.2%
UHAL	B	0.2%
BBWI	D	0.2%
NSIT	F	0.2%
ARW	F	0.2%
RRC	C	0.2%
KEX	C	0.2%
CFR	B	0.19%
FAF	D	0.19%
STWD	D	0.19%
MAT	C	0.19%
BIO	B	0.19%
PB	B	0.19%
OSK	B	0.19%
JAZZ	B	0.19%
MSA	D	0.19%
CRUS	F	0.19%
RHI	B	0.19%
RLI	A	0.19%
EVRG	B	0.19%
ESAB	B	0.18%
AGCO	D	0.18%
MOG.A	B	0.17%
CADE	B	0.17%
VMI	B	0.17%
LAMR	C	0.17%
WHR	B	0.17%
ACI	C	0.17%
ESI	B	0.17%
XPO	B	0.17%
AN	D	0.17%
VVV	B	0.16%
ST	F	0.16%
XRAY	F	0.16%
IDA	A	0.16%
AUR	C	0.16%
NFG	C	0.16%
BC	C	0.16%
ALB	C	0.16%
ACHC	F	0.16%
OLN	F	0.16%
PARA	C	0.16%
COOP	A	0.16%
SRCL	A	0.16%
SIGI	B	0.16%
WTS	C	0.16%
AMG	C	0.15%
NXST	C	0.15%
GBCI	B	0.15%
VNT	B	0.15%
SIRI	D	0.15%
KD	B	0.15%
TKR	F	0.15%
BECN	B	0.15%
LNC	B	0.15%
SON	F	0.15%
UGI	D	0.15%
TPG	B	0.14%
CPRI	F	0.14%
ABG	B	0.14%
RIVN	F	0.14%
PIPR	B	0.14%
BDC	B	0.14%
RYN	D	0.14%
SUM	B	0.14%
BCO	D	0.14%
JHG	A	0.14%
HOMB	B	0.14%
GPI	B	0.14%
ZWS	B	0.14%
OGN	F	0.14%
POR	D	0.14%
PSN	B	0.14%
UBSI	B	0.14%
LYFT	C	0.13%
ITGR	B	0.13%
SBRA	B	0.13%
FLO	F	0.13%
NUVL	D	0.13%
MGM	F	0.13%
CUZ	B	0.13%
SWX	B	0.13%
FFIN	B	0.13%
NCLH	B	0.13%
SLG	B	0.13%
KRC	B	0.13%
KTB	A	0.13%
AVNT	B	0.13%
ACA	B	0.13%
NJR	C	0.13%
HASI	F	0.12%
WU	F	0.12%
GTES	B	0.12%
SLGN	B	0.12%
OGS	C	0.12%
ICUI	C	0.12%
SEE	C	0.12%
AR	C	0.12%
BKH	C	0.12%
PR	C	0.12%
FUL	D	0.12%
NHI	C	0.11%
SR	D	0.11%
SMG	D	0.11%
ALE	A	0.11%
EPR	D	0.11%
KMPR	A	0.11%
DNB	B	0.11%
MSM	C	0.11%
IAC	C	0.11%
MTZ	A	0.11%
MDGL	B	0.11%
KFY	B	0.11%
MAC	B	0.11%
EDR	C	0.11%
PNM	B	0.11%
ASGN	B	0.11%
HUN	F	0.11%
HL	D	0.11%
MGEE	A	0.1%
RUSHA	B	0.1%
ABM	B	0.1%
ESE	B	0.1%
AUB	B	0.1%
NVST	C	0.1%
SXT	B	0.1%
NPO	C	0.1%
CDP	C	0.1%
MAN	F	0.1%
NWE	D	0.1%
MPW	D	0.1%
HIW	B	0.1%
PCH	F	0.1%
GMS	B	0.1%
BNL	D	0.1%
PBH	B	0.1%
PRGO	D	0.1%
PNFP	B	0.1%
SEM	B	0.1%
SKT	B	0.1%
FHB	B	0.09%
PRIM	A	0.09%
NSP	F	0.09%
UNF	B	0.09%
WEN	C	0.09%
APAM	B	0.09%
NWL	B	0.09%
AVA	D	0.09%
CBU	B	0.09%
TNL	A	0.09%
SYNA	D	0.09%
COMP	B	0.09%
WBA	F	0.09%
GFF	C	0.09%
AWR	B	0.09%
CWK	B	0.09%
AMED	C	0.09%
BEN	C	0.09%
BRC	B	0.09%
APLE	B	0.09%
PAG	C	0.09%
COTY	F	0.09%
EAT	B	0.09%
OTTR	D	0.09%
BGC	A	0.09%
TGNA	B	0.08%
ATGE	B	0.08%
POST	D	0.08%
CXT	D	0.08%
DY	C	0.08%
AIN	D	0.08%
ABR	B	0.08%
ADTN	B	0.08%
PK	C	0.08%
REZI	A	0.08%
LXP	D	0.08%
IOSP	B	0.08%
CNXC	F	0.08%
PENN	C	0.08%
PRGS	B	0.08%
WLK	F	0.08%
TDC	D	0.08%
DEI	B	0.08%
FHI	B	0.08%
ENR	B	0.07%
PECO	B	0.07%
HAYW	C	0.07%
VAC	B	0.07%
MTRN	C	0.07%
AZZ	B	0.07%
BOKF	B	0.07%
SMMT	C	0.07%
ENOV	C	0.07%
HNI	B	0.07%
PRK	B	0.07%
DBRG	F	0.07%
HBI	B	0.07%
OSIS	C	0.07%
RNG	B	0.07%
AKR	B	0.07%
CDE	C	0.07%
MTX	B	0.07%
VIRT	A	0.07%
SPB	C	0.07%
CWEN	D	0.07%
RNA	B	0.07%
IOVA	D	0.07%
MGRC	B	0.07%
OUT	C	0.07%
BXMT	B	0.07%
UE	A	0.07%
RXO	B	0.06%
HURN	B	0.06%
GNL	D	0.06%
HI	C	0.06%
VSTS	F	0.06%
NMRK	B	0.06%
THS	F	0.06%
RNST	B	0.06%
INFA	D	0.06%
WLY	B	0.06%
IPGP	C	0.06%
VYX	C	0.06%
JOBY	F	0.06%
VGR	B	0.06%
VIAV	B	0.06%
OMCL	B	0.06%
VSCO	B	0.06%
CGON	C	0.06%
LAUR	B	0.06%
EQC	C	0.06%
OI	D	0.06%
IVT	A	0.06%
NATL	C	0.06%
BYD	A	0.06%
SHO	B	0.06%
STRA	D	0.06%
SXI	B	0.06%
EVTC	C	0.06%
ZD	C	0.06%
ZG	B	0.06%
BLKB	C	0.06%
AIR	C	0.06%
MIR	B	0.06%
AZTA	F	0.06%
VRNT	F	0.05%
UPBD	C	0.05%
HLIO	B	0.05%
HE	D	0.05%
LTC	B	0.05%
AMN	F	0.05%
REYN	F	0.05%
STEP	B	0.05%
PPC	B	0.05%
NHC	C	0.05%
NPAB	F	0.05%
WSBC	B	0.05%
SHOO	D	0.05%
GEO	B	0.05%
DRH	B	0.05%
MLKN	F	0.05%
LEG	F	0.05%
LGND	B	0.05%
PZZA	C	0.05%
GOLF	B	0.05%
FTRE	D	0.05%
EPC	D	0.05%
KAR	B	0.05%
B	B	0.05%
IMVT	C	0.05%
ROIC	A	0.05%
PBI	C	0.04%
AIV	D	0.04%
AAT	B	0.04%
PMT	D	0.04%
UVV	C	0.04%
PDM	B	0.04%
ARI	D	0.04%
UNIT	B	0.04%
LADR	C	0.04%
VCTR	B	0.04%
WWW	A	0.04%
CXW	B	0.04%
CSGS	B	0.04%
WT	B	0.04%
RRR	F	0.04%
REVG	B	0.04%
SBH	C	0.04%
ALEX	B	0.04%
VRE	B	0.04%
BLMN	F	0.04%
CAR	D	0.04%
HELE	D	0.04%
NGVT	C	0.04%
CODI	B	0.04%
ESRT	C	0.04%
NTCT	B	0.04%
JBGS	D	0.04%
KN	B	0.04%
CNK	B	0.04%
DYN	F	0.04%
GEF	B	0.04%
GO	D	0.04%
ELME	C	0.04%
GTY	B	0.04%
NWN	B	0.04%
SMR	B	0.03%
CMTG	D	0.03%
JACK	D	0.03%
BDN	C	0.03%
BV	A	0.03%
LGF.A	D	0.03%
DNUT	D	0.03%
MMI	B	0.03%
CWEN	D	0.03%
TRS	B	0.03%
MD	B	0.03%
THR	F	0.03%
FA	D	0.03%
RWT	D	0.03%
LEVI	F	0.03%
FBRT	B	0.03%
CNNE	B	0.03%
CSR	B	0.03%
ETWO	F	0.03%
AVNS	F	0.03%
WS	A	0.03%
KWR	D	0.03%
XRX	F	0.03%
OMI	F	0.03%
DK	F	0.03%
AMRX	C	0.03%
MYGN	F	0.03%
MSGE	C	0.03%
IART	C	0.03%
ATUS	C	0.02%
MXL	C	0.02%
BMBL	D	0.02%
BASE	C	0.02%
CMPR	F	0.02%
CFFN	B	0.02%
SWI	B	0.02%
MATW	C	0.02%
HPP	F	0.02%
UHAL	B	0.02%
HLF	C	0.02%
ECVT	C	0.02%
AMWD	B	0.02%
KREF	D	0.02%
BRSP	B	0.02%
PRLB	B	0.02%
XHR	B	0.02%
SVC	F	0.02%
MODG	F	0.02%
SAH	B	0.02%
HAIN	D	0.02%
EMBC	C	0.02%
HCSG	B	0.02%
MNRO	B	0.02%
PRAA	C	0.02%
EYE	D	0.02%
DLX	B	0.02%
RBRK	A	0.02%
LDI	C	0.01%
BRCC	F	0.01%
OPK	C	0.01%
TWKS	C	0.01%
DJT	D	0.01%
DIN	C	0.01%
VREX	C	0.01%
TGI	B	0.01%
ALX	C	0.01%
CMP	D	0.01%
TRTX	B	0.01%
SRCL	A	0.01%
ZIP	C	0.01%
NAPA	A	0.01%
WOOF	D	0.01%
RUSHB	B	0.01%
INN	D	0.01%
VMEO	B	0.01%
EE	B	0.01%
RMR	C	0.01%
GRC	B	0.01%
PTVE	D	0.01%
NVRI	F	0.01%
FWRD	D	0.01%
NABL	F	0.01%
CLB	C	0.01%
SSTK	D	0.01%
CLBK	B	0.01%
CCO	C	0.01%
ARRY	F	0.01%
GCMG	B	0.01%
LGF.A	D	0.01%
CWH	C	0.01%
BFS	B	0.01%
DAWN	B	0.01%
PWSC	C	0.0%
SCWX	C	0.0%
AC	C	0.0%
TASK	B	0.0%
LESL	D	0.0%
GEF	B	0.0%

VBR Underweight 465 Positions Relative to AVUV

Symbol	Grade	Weight
HRI	B	-0.9%
MGY	A	-0.75%
IDCC	A	-0.73%
CALM	B	-0.65%
NOG	B	-0.63%
STNG	F	-0.54%
LBRT	F	-0.53%
POWL	B	-0.5%
CEIX	B	-0.49%
SLVM	A	-0.48%
AMR	C	-0.45%
NMIH	D	-0.41%
ALKS	C	-0.39%
OII	B	-0.38%
PLUS	C	-0.37%
MARA	C	-0.35%
AGX	B	-0.34%
SNEX	B	-0.33%
TBBK	C	-0.32%
KOS	F	-0.3%
PLAB	C	-0.27%
STRL	A	-0.26%
TALO	C	-0.25%
EFSC	B	-0.24%
CASH	B	-0.24%
HLX	D	-0.24%
NTB	B	-0.23%
AGM	B	-0.22%
OPEN	F	-0.22%
HHH	B	-0.22%
LPG	F	-0.22%
SFL	F	-0.22%
DHT	F	-0.22%
ALGT	C	-0.21%
BXC	B	-0.2%
HWKN	C	-0.2%
CRK	B	-0.2%
IRDM	C	-0.2%
CIVI	D	-0.2%
CUBI	C	-0.2%
PRDO	B	-0.2%
WGO	C	-0.19%
KRP	B	-0.19%
IMKTA	D	-0.18%
GLNG	B	-0.18%
MCRI	B	-0.18%
SXC	A	-0.18%
WTTR	B	-0.18%
TPC	B	-0.18%
DIOD	D	-0.18%
QCRH	B	-0.17%
DOLE	B	-0.17%
PAYO	A	-0.17%
SASR	B	-0.17%
HRMY	D	-0.17%
MRTN	C	-0.16%
OEC	F	-0.15%
PLYA	A	-0.15%
PTGX	C	-0.15%
BUSE	C	-0.15%
STNE	F	-0.14%
MBUU	C	-0.14%
AMPH	D	-0.14%
AMRC	F	-0.14%
PARR	F	-0.14%
BELFB	B	-0.14%
RIG	D	-0.13%
MTDR	C	-0.13%
KLG	C	-0.13%
DCOM	B	-0.13%
NBR	C	-0.12%
RYI	C	-0.12%
CNXN	C	-0.12%
OCFC	B	-0.12%
ASC	F	-0.12%
ASIX	B	-0.12%
EGY	F	-0.12%
SPTN	F	-0.12%
PEBO	B	-0.12%
GNK	D	-0.12%
MTUS	C	-0.11%
CNOB	B	-0.11%
PFC	B	-0.11%
SCVL	D	-0.11%
TCBK	B	-0.11%
PLMR	C	-0.11%
ETD	F	-0.11%
VBTX	B	-0.11%
NR	D	-0.1%
RES	F	-0.1%
NAT	F	-0.1%
EBS	C	-0.1%
SNCY	C	-0.1%
CPF	B	-0.1%
VTOL	C	-0.1%
AMAL	B	-0.1%
UVSP	B	-0.1%
PATK	D	-0.1%
CLVT	F	-0.1%
CTBI	B	-0.1%
DAKT	B	-0.1%
OBK	B	-0.1%
REX	C	-0.1%
PAGS	F	-0.1%
ENLC	B	-0.09%
KLIC	C	-0.09%
BBW	C	-0.09%
HOV	D	-0.09%
IIIN	F	-0.09%
HAFC	B	-0.09%
CLW	F	-0.09%
MBWM	B	-0.09%
OSBC	B	-0.09%
FMBH	B	-0.09%
SGHC	B	-0.09%
BY	B	-0.09%
MBIN	F	-0.09%
HCI	B	-0.09%
RYAM	B	-0.09%
IBCP	B	-0.09%
FBMS	B	-0.08%
PAHC	B	-0.08%
CMRE	C	-0.08%
LXU	C	-0.08%
OSCR	F	-0.08%
NBN	B	-0.08%
CFB	C	-0.08%
UTI	A	-0.08%
GLDD	B	-0.08%
SYBT	B	-0.08%
MCS	B	-0.08%
SMP	C	-0.08%
NTGR	A	-0.08%
PFBC	B	-0.07%
CHX	D	-0.07%
MSBI	B	-0.07%
GRNT	C	-0.07%
GSBC	B	-0.07%
WASH	B	-0.07%
CCRN	F	-0.07%
NGVC	A	-0.07%
ZEUS	D	-0.07%
RBCAA	B	-0.07%
LOVE	B	-0.07%
RDUS	C	-0.07%
MCB	B	-0.07%
TGLS	B	-0.07%
BFST	B	-0.07%
TRST	B	-0.07%
SBLK	F	-0.06%
BVS	C	-0.06%
OSUR	D	-0.06%
IESC	A	-0.06%
TNC	F	-0.06%
ODC	C	-0.06%
THFF	B	-0.06%
ULH	B	-0.06%
CCB	B	-0.06%
USAP	B	-0.06%
ANET	C	-0.06%
ESQ	B	-0.06%
HTBI	C	-0.06%
CVGW	B	-0.06%
OPY	B	-0.06%
SD	F	-0.06%
PGC	B	-0.06%
VTLE	D	-0.06%
EBF	D	-0.06%
BRY	F	-0.06%
LMB	A	-0.06%
SKWD	A	-0.06%
CCNE	B	-0.06%
HTBK	B	-0.06%
SMBC	B	-0.06%
UVE	C	-0.06%
MCFT	B	-0.05%
AMTB	B	-0.05%
NFBK	B	-0.05%
MOV	D	-0.05%
SBSI	B	-0.05%
KE	C	-0.05%
LXFR	B	-0.05%
FISI	C	-0.05%
FFIC	B	-0.05%
GPOR	C	-0.05%
REPX	A	-0.05%
ORRF	B	-0.05%
SB	F	-0.05%
SIGA	D	-0.05%
SMBK	B	-0.05%
METC	C	-0.05%
NWPX	B	-0.05%
HBNC	B	-0.05%
CAC	B	-0.05%
GDOT	D	-0.05%
BHB	B	-0.05%
GDEN	C	-0.05%
HVT	F	-0.05%
AROW	B	-0.05%
HPK	F	-0.05%
ACCO	B	-0.05%
JBSS	F	-0.05%
THRM	F	-0.05%
CVEO	D	-0.05%
GRBK	D	-0.04%
CCBG	B	-0.04%
CARE	B	-0.04%
AMPY	D	-0.04%
GCO	C	-0.04%
GPRE	F	-0.04%
VPG	F	-0.04%
FSBC	B	-0.04%
HNRG	C	-0.04%
ATNI	F	-0.04%
JAKK	C	-0.04%
VLGEA	B	-0.04%
FNKO	C	-0.04%
DBI	F	-0.04%
TWI	F	-0.04%
RBB	B	-0.04%
NRIM	B	-0.04%
AOSL	F	-0.04%
MCBS	B	-0.04%
MPB	B	-0.04%
APEI	C	-0.04%
ZIMV	F	-0.04%
SPFI	B	-0.04%
ARHS	F	-0.04%
CENX	B	-0.03%
RCKY	F	-0.03%
DXLG	C	-0.03%
BWB	B	-0.03%
LOB	C	-0.03%
LYTS	A	-0.03%
TBI	D	-0.03%
XPRO	F	-0.03%
FBK	B	-0.03%
SWIM	D	-0.03%
BANC	B	-0.03%
FLXS	B	-0.03%
TH	D	-0.03%
SHEN	F	-0.03%
MED	D	-0.03%
SRCE	B	-0.03%
PKOH	B	-0.03%
DHIL	B	-0.03%
KRT	B	-0.03%
SHBI	B	-0.03%
IPI	B	-0.03%
MOFG	B	-0.03%
RNGR	A	-0.03%
HFWA	B	-0.03%
SGC	C	-0.03%
FLIC	B	-0.03%
HDSN	F	-0.03%
LKFN	B	-0.03%
HRTG	D	-0.03%
HSII	A	-0.03%
FIGS	D	-0.03%
MYE	F	-0.03%
EZPW	B	-0.03%
PANL	D	-0.03%
LE	D	-0.03%
USLM	A	-0.03%
FLWS	C	-0.03%
VIRC	C	-0.03%
GLRE	B	-0.03%
PUBM	C	-0.02%
PBYI	D	-0.02%
UNTY	B	-0.02%
EPM	B	-0.02%
BFC	B	-0.02%
FBNC	B	-0.02%
VRA	D	-0.02%
HBT	B	-0.02%
IMMR	C	-0.02%
OIS	C	-0.02%
CVGI	F	-0.02%
LEGH	C	-0.02%
FRBA	C	-0.02%
RMAX	B	-0.02%
HIFS	B	-0.02%
BMRC	B	-0.02%
WTBA	B	-0.02%
ALRS	C	-0.02%
FIVE	F	-0.02%
CIVB	B	-0.02%
FFWM	C	-0.02%
KODK	C	-0.02%
CASS	B	-0.02%
TG	B	-0.02%
TCBX	B	-0.02%
INBK	B	-0.02%
MEC	D	-0.02%
MNTK	C	-0.02%
ANIP	D	-0.02%
SFST	B	-0.02%
CMT	D	-0.02%
EQBK	B	-0.02%
PLPC	A	-0.02%
BSRR	B	-0.02%
MERC	C	-0.02%
HOFT	C	-0.02%
HONE	C	-0.02%
FMNB	C	-0.02%
TTI	C	-0.02%
FSBW	B	-0.02%
WLFC	C	-0.02%
FBIZ	B	-0.02%
ORN	C	-0.02%
MEI	F	-0.02%
HBB	F	-0.02%
RM	D	-0.02%
ACNB	B	-0.02%
NATR	C	-0.02%
REI	F	-0.02%
ACIC	B	-0.02%
MPX	C	-0.01%
BSVN	B	-0.01%
UBFO	A	-0.01%
EVC	C	-0.01%
XBIT	C	-0.01%
PWOD	C	-0.01%
COFS	B	-0.01%
KLXE	D	-0.01%
SONO	C	-0.01%
VNDA	C	-0.01%
STKS	F	-0.01%
BSET	B	-0.01%
FCBC	B	-0.01%
TSBK	B	-0.01%
FRST	C	-0.01%
CBNK	B	-0.01%
KEQU	D	-0.01%
MPAA	D	-0.01%
ISTR	B	-0.01%
BWFG	C	-0.01%
PTSI	C	-0.01%
OPBK	B	-0.01%
ATLC	A	-0.01%
GABC	B	-0.01%
UFCS	B	-0.01%
NC	C	-0.01%
LFVN	B	-0.01%
CBAN	B	-0.01%
LWAY	D	-0.01%
IBEX	C	-0.01%
LSEA	F	-0.01%
LCUT	F	-0.01%
BCML	B	-0.01%
FUNC	A	-0.01%
VEL	C	-0.01%
PKBK	B	-0.01%
GNTY	C	-0.01%
HMST	F	-0.01%
METCB	C	-0.01%
ALTG	C	-0.01%
ITIC	B	-0.01%
LTH	C	-0.01%
ACTG	D	-0.01%
NGS	B	-0.01%
JRVR	D	-0.01%
GEOS	C	-0.01%
EBTC	B	-0.01%
EVBN	B	-0.01%
AVO	B	-0.01%
AMSF	A	-0.01%
ACU	D	-0.01%
LNN	B	-0.01%
MTW	C	-0.01%
GHM	B	-0.01%
FLL	D	-0.01%
MVBF	C	-0.01%
UEIC	C	-0.01%
PCB	A	-0.01%
TTSH	B	-0.01%
MFIN	B	-0.01%
SRI	F	-0.01%
BELFA	B	-0.01%
RLGT	B	-0.01%
MWA	A	-0.01%
LNTH	D	-0.01%
MYRG	C	-0.01%
OBT	B	-0.01%
NNBR	F	-0.01%
WSBF	B	-0.01%
KRNY	B	-0.01%
CLAR	D	-0.01%
BCBP	B	-0.01%
ESOA	A	-0.01%
TAYD	D	-0.01%
FSTR	C	-0.01%
FF	C	-0.01%
RICK	C	-0.01%
IMXI	B	-0.01%
HBCP	B	-0.01%
CPHC	C	-0.0%
MRBK	C	-0.0%
AVNW	F	-0.0%
NKSH	B	-0.0%
SRTS	B	-0.0%
KVHI	F	-0.0%
MNSB	C	-0.0%
WNEB	B	-0.0%
PLBC	B	-0.0%
FGBI	C	-0.0%
ESCA	C	-0.0%
MYFW	C	-0.0%
UTMD	D	-0.0%
LAKE	C	-0.0%
ATLO	D	-0.0%
VABK	A	-0.0%
FDBC	B	-0.0%
CNTY	B	-0.0%
PDEX	B	-0.0%
PVBC	B	-0.0%
BCAL	B	-0.0%
WOW	B	-0.0%
AOUT	B	-0.0%
PHX	C	-0.0%
OB	C	-0.0%
MYPS	D	-0.0%
WEYS	B	-0.0%
LPRO	D	-0.0%
ZUMZ	D	-0.0%
DLTH	F	-0.0%
NWFL	B	-0.0%
CSPI	D	-0.0%
SPWH	F	-0.0%
CZFS	B	-0.0%
UFI	F	-0.0%
NIC	B	-0.0%
TBNK	B	-0.0%
RRBI	B	-0.0%
FVCB	B	-0.0%
QUAD	B	-0.0%
CHMG	B	-0.0%
CRD.B	C	-0.0%
KINS	B	-0.0%
FONR	F	-0.0%
CCRD	B	-0.0%
PFIS	B	-0.0%
MTRX	B	-0.0%
PYXS	C	-0.0%
PNRG	B	-0.0%
PEBK	B	-0.0%
VHI	B	-0.0%
CFFI	B	-0.0%
EPSN	B	-0.0%
EML	D	-0.0%
OVLY	B	-0.0%
FNLC	B	-0.0%
CBFV	C	-0.0%
RVSB	C	-0.0%
NEU	D	-0.0%
TWIN	D	-0.0%
CATO	C	-0.0%
HWBK	C	-0.0%
FET	D	-0.0%
BOOM	F	-0.0%
CPSS	B	-0.0%
SEG	D	-0.0%
BFIN	C	-0.0%
FRAF	B	-0.0%
GIC	F	-0.0%