VBR vs. MIDU ETF Comparison

Comparison of Vanguard Small-Cap Value ETF - DNQ (VBR) to Direxion Mid Cap Bull 3X Shares (MIDU)

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

$207.08

Average Daily Volume

421,482

Number of Holdings ^*

797

* may have additional holdings in another (foreign) market

MIDU

Direxion Mid Cap Bull 3X Shares

MIDU Description

The investment seeks daily investment results, before fees and expenses, of 300% of the performance of the S&P MidCap® 400 Index. The fund, under normal circumstances, creates long positions by investing at least 80% of its assets in the securities that comprise the S&P MidCap® 400 Index ("index") and/or financial instruments that provide leveraged and unleveraged exposure to the index. The index measures the performance of the mid-cap segment of the U.S. equity universe, which is a capitalization-weighted index composed of 400 domestic common stocks. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$58.82

Average Daily Volume

91,990

Number of Holdings ^*

392

* may have additional holdings in another (foreign) market

Performance

Period	VBR	MIDU
30 Days	0.99%	0.05%
60 Days	4.06%	8.46%
90 Days	7.32%	12.74%
12 Months	29.33%	71.48%

250 Overlapping Holdings

	Symbol	Grade	Weight in VBR	Weight in MIDU	Overlap
	AA	A	0.29%	0.25%	0.25%
	AAL	B	0.21%	0.2%	0.2%
	ACHC	F	0.16%	0.09%	0.09%
	ACM	B	0.4%	0.33%	0.33%
	ADC	A	0.22%	0.16%	0.16%
	AFG	A	0.29%	0.21%	0.21%
	AGCO	F	0.18%	0.13%	0.13%
	AIT	B	0.25%	0.22%	0.22%
	ALE	A	0.11%	0.08%	0.08%
	ALLY	C	0.28%	0.23%	0.23%
	AM	A	0.15%	0.11%	0.11%
	AMED	F	0.09%	0.07%	0.07%
	AMG	C	0.15%	0.12%	0.12%
	AMKR	F	0.1%	0.07%	0.07%
	AN	D	0.17%	0.1%	0.1%
	ANF	C	0.21%	0.15%	0.15%
	AR	B	0.12%	0.18%	0.12%
	ARMK	C	0.29%	0.22%	0.22%
	ARW	F	0.2%	0.14%	0.14%
	ASB	B	0.09%	0.09%	0.09%
	ASGN	F	0.11%	0.1%	0.1%
	ASH	F	0.12%	0.09%	0.09%
	ATR	B	0.31%	0.25%	0.25%
	AVNT	B	0.13%	0.1%	0.1%
	AVT	C	0.14%	0.11%	0.11%
	AXTA	B	0.23%	0.19%	0.19%
	AYI	B	0.24%	0.21%	0.21%
	AZTA	F	0.06%	0.05%	0.05%
	BC	D	0.16%	0.12%	0.12%
	BCO	F	0.14%	0.1%	0.1%
	BDC	B	0.14%	0.12%	0.12%
	BERY	D	0.21%	0.17%	0.17%
	BHF	C	0.08%	0.07%	0.07%
	BIO	C	0.19%	0.16%	0.16%
	BJ	B	0.32%	0.26%	0.26%
	BKH	A	0.12%	0.09%	0.09%
	BLKB	B	0.06%	0.07%	0.06%
	BRX	A	0.24%	0.18%	0.18%
	BYD	B	0.06%	0.11%	0.06%
	CACI	C	0.32%	0.27%	0.27%
	CADE	B	0.17%	0.15%	0.15%
	CAR	C	0.04%	0.04%	0.04%
	CBSH	A	0.2%	0.18%	0.18%
	CBT	C	0.18%	0.14%	0.14%
	CC	D	0.09%	0.07%	0.07%
	CCK	D	0.33%	0.24%	0.24%
	CDP	C	0.1%	0.08%	0.08%
	CFR	B	0.19%	0.2%	0.19%
	CG	B	0.29%	0.25%	0.25%
	CHRD	F	0.23%	0.18%	0.18%
	CLF	F	0.17%	0.15%	0.15%
	CMC	B	0.18%	0.16%	0.16%
	CNO	B	0.1%	0.09%	0.09%
	CNX	A	0.13%	0.12%	0.12%
	CNXC	F	0.08%	0.04%	0.04%
	COHR	B	0.2%	0.33%	0.2%
	COLB	B	0.16%	0.14%	0.14%
	COLM	B	0.04%	0.06%	0.04%
	COTY	F	0.09%	0.06%	0.06%
	CPRI	F	0.14%	0.06%	0.06%
	CR	A	0.22%	0.18%	0.18%
	CRI	F	0.06%	0.04%	0.04%
	CRUS	F	0.19%	0.12%	0.12%
	CSL	C	0.6%	0.45%	0.45%
	CUZ	B	0.13%	0.1%	0.1%
	CXT	C	0.08%	0.06%	0.06%
	DCI	B	0.26%	0.2%	0.2%
	DINO	D	0.21%	0.15%	0.15%
	DKS	D	0.24%	0.24%	0.24%
	DTM	A	0.22%	0.2%	0.2%
	EGP	D	0.26%	0.18%	0.18%
	EHC	B	0.28%	0.22%	0.22%
	EME	A	0.58%	0.51%	0.51%
	ENOV	C	0.07%	0.06%	0.06%
	ENS	D	0.12%	0.09%	0.09%
	EPR	D	0.11%	0.07%	0.07%
	EQH	B	0.39%	0.35%	0.35%
	ESAB	C	0.18%	0.16%	0.16%
	ESNT	D	0.19%	0.13%	0.13%
	EVR	B	0.27%	0.24%	0.24%
	EWBC	A	0.33%	0.32%	0.32%
	FAF	C	0.19%	0.14%	0.14%
	FBIN	F	0.32%	0.23%	0.23%
	FCN	F	0.24%	0.15%	0.15%
	FFIN	B	0.13%	0.12%	0.12%
	FHI	B	0.08%	0.07%	0.07%
	FHN	A	0.24%	0.23%	0.23%
	FLO	D	0.13%	0.1%	0.1%
	FLR	B	0.24%	0.22%	0.22%
	FLS	A	0.2%	0.17%	0.17%
	FNB	B	0.15%	0.13%	0.13%
	FR	C	0.21%	0.15%	0.15%
	FYBR	C	0.25%	0.17%	0.17%
	G	B	0.2%	0.14%	0.14%
	GAP	D	0.15%	0.1%	0.1%
	GATX	B	0.14%	0.12%	0.12%
	GBCI	B	0.15%	0.14%	0.14%
	GEF	B	0.04%	0.04%	0.04%
	GEF	B	0.0%	0.04%	0.0%
	GHC	B	0.08%	0.07%	0.07%
	GLPI	C	0.39%	0.29%	0.29%
	GME	C	0.25%	0.19%	0.19%
	GPK	D	0.26%	0.19%	0.19%
	GT	C	0.07%	0.06%	0.06%
	HOG	F	0.13%	0.09%	0.09%
	HOMB	A	0.14%	0.12%	0.12%
	HRB	D	0.26%	0.19%	0.19%
	HWC	B	0.13%	0.11%	0.11%
	IBOC	B	0.1%	0.08%	0.08%
	IDA	A	0.16%	0.13%	0.13%
	INGR	B	0.26%	0.21%	0.21%
	IPGP	D	0.06%	0.05%	0.05%
	ITT	A	0.35%	0.27%	0.27%
	JAZZ	C	0.19%	0.15%	0.15%
	JEF	A	0.26%	0.25%	0.25%
	JHG	B	0.14%	0.12%	0.12%
	JLL	D	0.37%	0.27%	0.27%
	JWN	C	0.08%	0.05%	0.05%
	KBH	D	0.16%	0.12%	0.12%
	KBR	F	0.25%	0.2%	0.2%
	KD	A	0.15%	0.12%	0.12%
	KEX	B	0.2%	0.16%	0.16%
	KMPR	A	0.11%	0.09%	0.09%
	KNF	B	0.15%	0.12%	0.12%
	KNX	B	0.24%	0.2%	0.2%
	KRC	C	0.13%	0.09%	0.09%
	LAD	B	0.24%	0.21%	0.21%
	LAMR	D	0.17%	0.25%	0.17%
	LEA	F	0.18%	0.12%	0.12%
	LPX	B	0.2%	0.15%	0.15%
	M	D	0.12%	0.1%	0.1%
	MAN	F	0.1%	0.07%	0.07%
	MAT	D	0.19%	0.14%	0.14%
	MIDD	D	0.22%	0.17%	0.17%
	MKSI	C	0.21%	0.15%	0.15%
	MSA	D	0.19%	0.15%	0.15%
	MSM	D	0.11%	0.09%	0.09%
	MTG	D	0.19%	0.14%	0.14%
	MTZ	A	0.11%	0.19%	0.11%
	MUR	F	0.14%	0.1%	0.1%
	MUSA	B	0.26%	0.21%	0.21%
	NFG	A	0.16%	0.12%	0.12%
	NJR	A	0.13%	0.1%	0.1%
	NNN	C	0.26%	0.17%	0.17%
	NSP	F	0.09%	0.06%	0.06%
	NVST	C	0.1%	0.08%	0.08%
	NVT	C	0.34%	0.28%	0.28%
	NWE	C	0.1%	0.07%	0.07%
	NXST	C	0.15%	0.12%	0.12%
	NYT	D	0.25%	0.2%	0.2%
	OC	A	0.44%	0.35%	0.35%
	OGE	A	0.24%	0.18%	0.18%
	OGS	A	0.12%	0.09%	0.09%
	OHI	B	0.3%	0.22%	0.22%
	OLN	F	0.16%	0.11%	0.11%
	ONB	B	0.17%	0.15%	0.15%
	ORI	A	0.24%	0.19%	0.19%
	OSK	C	0.19%	0.16%	0.16%
	OVV	C	0.29%	0.24%	0.24%
	OZK	B	0.13%	0.11%	0.11%
	PAG	B	0.09%	0.07%	0.07%
	PB	A	0.19%	0.17%	0.17%
	PBF	D	0.08%	0.07%	0.07%
	PCH	D	0.1%	0.07%	0.07%
	PFGC	B	0.35%	0.3%	0.3%
	PII	F	0.13%	0.08%	0.08%
	PK	D	0.08%	0.07%	0.07%
	PNFP	B	0.1%	0.2%	0.1%
	PNM	B	0.11%	0.09%	0.09%
	POR	C	0.14%	0.11%	0.11%
	POST	C	0.08%	0.11%	0.08%
	PPC	B	0.05%	0.05%	0.05%
	PR	B	0.12%	0.2%	0.12%
	PRGO	C	0.1%	0.08%	0.08%
	PRI	A	0.26%	0.21%	0.21%
	PSN	C	0.14%	0.11%	0.11%
	PVH	C	0.16%	0.12%	0.12%
	R	B	0.17%	0.15%	0.15%
	RGA	B	0.41%	0.33%	0.33%
	RLI	A	0.19%	0.15%	0.15%
	RNR	C	0.41%	0.31%	0.31%
	RPM	B	0.45%	0.38%	0.38%
	RRC	B	0.2%	0.17%	0.17%
	RRX	B	0.32%	0.26%	0.26%
	RS	B	0.46%	0.39%	0.39%
	RYN	D	0.14%	0.09%	0.09%
	SAIC	F	0.21%	0.17%	0.17%
	SBRA	B	0.13%	0.09%	0.09%
	SCI	A	0.31%	0.27%	0.27%
	SEIC	B	0.23%	0.17%	0.17%
	SF	B	0.26%	0.26%	0.26%
	SFM	A	0.32%	0.31%	0.31%
	SIGI	B	0.16%	0.13%	0.13%
	SLGN	A	0.12%	0.09%	0.09%
	SLM	B	0.14%	0.12%	0.12%
	SMG	C	0.11%	0.07%	0.07%
	SNV	B	0.18%	0.18%	0.18%
	SNX	D	0.22%	0.2%	0.2%
	SON	F	0.15%	0.11%	0.11%
	SR	A	0.11%	0.08%	0.08%
	SSB	B	0.21%	0.18%	0.18%
	ST	F	0.16%	0.11%	0.11%
	STAG	D	0.21%	0.15%	0.15%
	STWD	C	0.19%	0.13%	0.13%
	SWX	A	0.13%	0.1%	0.1%
	SYNA	D	0.09%	0.06%	0.06%
	TCBI	B	0.1%	0.09%	0.09%
	TDC	D	0.08%	0.06%	0.06%
	TEX	D	0.1%	0.09%	0.09%
	THC	C	0.46%	0.33%	0.33%
	THG	A	0.14%	0.12%	0.12%
	THO	C	0.16%	0.13%	0.13%
	TKR	F	0.15%	0.11%	0.11%
	TMHC	B	0.2%	0.16%	0.16%
	TNL	B	0.09%	0.08%	0.08%
	TOL	B	0.46%	0.34%	0.34%
	TTEK	F	0.36%	0.27%	0.27%
	UA	C	0.03%	0.02%	0.02%
	UAA	C	0.05%	0.04%	0.04%
	UBSI	B	0.14%	0.12%	0.12%
	UFPI	C	0.22%	0.18%	0.18%
	UGI	C	0.15%	0.11%	0.11%
	UMBF	B	0.13%	0.12%	0.12%
	UNM	A	0.25%	0.26%	0.25%
	USFD	A	0.43%	0.35%	0.35%
	UTHR	C	0.46%	0.38%	0.38%
	VAC	C	0.07%	0.06%	0.06%
	VC	F	0.04%	0.06%	0.04%
	VLY	B	0.11%	0.1%	0.1%
	VMI	B	0.17%	0.15%	0.15%
	VNO	C	0.21%	0.16%	0.16%
	VNT	C	0.15%	0.13%	0.13%
	VOYA	B	0.22%	0.18%	0.18%
	VSH	F	0.07%	0.04%	0.04%
	VVV	D	0.16%	0.12%	0.12%
	WAL	B	0.26%	0.23%	0.23%
	WBS	A	0.23%	0.22%	0.22%
	WCC	B	0.24%	0.21%	0.21%
	WEN	C	0.09%	0.08%	0.08%
	WHR	B	0.17%	0.13%	0.13%
	WLK	F	0.08%	0.1%	0.08%
	WSM	D	0.45%	0.36%	0.36%
	WTFC	B	0.21%	0.19%	0.19%
	WTRG	B	0.27%	0.22%	0.22%
	WTS	B	0.16%	0.13%	0.13%
	WU	F	0.12%	0.08%	0.08%
	X	C	0.21%	0.21%	0.21%
	XPO	B	0.17%	0.38%	0.17%
	XRAY	D	0.16%	0.11%	0.11%
	ZION	B	0.2%	0.19%	0.19%

VBR Overweight 547 Positions Relative to MIDU

	Symbol	Grade	Weight
	SW	A	0.74%
	BLDR	D	0.65%
	BAH	D	0.61%
	ATO	A	0.58%
	FCNCA	A	0.57%
	NRG	B	0.54%
	PNR	B	0.47%
	IEX	B	0.47%
	KIM	A	0.45%
	AES	F	0.41%
	BG	D	0.39%
	EMN	D	0.38%
	REG	A	0.38%
	CPT	C	0.38%
	ALLE	D	0.37%
	JNPR	D	0.37%
	FFIV	B	0.37%
	JBL	C	0.37%
	UHS	D	0.37%
	KMX	C	0.35%
	SJM	D	0.35%
	CHRW	B	0.35%
	TFX	F	0.34%
	IPG	F	0.34%
	BXP	D	0.33%
	HUBB	B	0.33%
	LDOS	C	0.32%
	EPAM	C	0.31%
	TPR	B	0.31%
	AIZ	A	0.3%
	HII	F	0.3%
	LKQ	F	0.3%
	TAP	B	0.29%
	PNW	B	0.29%
	HAS	D	0.28%
	FRT	B	0.28%
	SOLV	F	0.28%
	QRVO	F	0.28%
	Z	A	0.28%
	HSIC	C	0.27%
	STLD	B	0.27%
	GL	C	0.27%
	APA	F	0.26%
	MOS	D	0.25%
	MHK	D	0.25%
	APG	C	0.24%
	AGNC	C	0.24%
	FMC	D	0.24%
	BWA	D	0.24%
	ALSN	B	0.24%
	MLI	B	0.24%
	SWN	C	0.23%
	CMA	B	0.23%
	DOC	D	0.23%
	IVZ	C	0.22%
	VFC	C	0.22%
	NI	A	0.22%
	LUMN	C	0.21%
	BPOP	C	0.21%
	ELAN	D	0.21%
	RL	C	0.21%
	MTH	D	0.21%
	JXN	C	0.2%
	DVA	C	0.2%
	UHAL	D	0.2%
	BBWI	C	0.2%
	NSIT	F	0.2%
	RHI	C	0.19%
	EVRG	A	0.19%
	MOG.A	B	0.17%
	ACI	C	0.17%
	ESI	B	0.17%
	AXS	A	0.17%
	BCC	C	0.16%
	AUR	C	0.16%
	ALB	B	0.16%
	OMF	A	0.16%
	PARA	D	0.16%
	COOP	B	0.16%
	SRCL	B	0.16%
	ALK	A	0.16%
	SIRI	D	0.15%
	RDN	D	0.15%
	MDU	D	0.15%
	BECN	B	0.15%
	LNC	B	0.15%
	TPG	A	0.14%
	ABG	B	0.14%
	RIVN	F	0.14%
	PIPR	B	0.14%
	MATX	B	0.14%
	SUM	B	0.14%
	GPI	B	0.14%
	ZWS	B	0.14%
	OGN	F	0.14%
	LYFT	C	0.13%
	ITGR	B	0.13%
	SIG	C	0.13%
	NUVL	D	0.13%
	MGM	D	0.13%
	NCLH	B	0.13%
	SLG	B	0.13%
	AL	B	0.13%
	KTB	A	0.13%
	ACA	A	0.13%
	HASI	F	0.12%
	TPH	D	0.12%
	ABCB	B	0.12%
	GTES	A	0.12%
	WTM	A	0.12%
	ASO	F	0.12%
	ICUI	D	0.12%
	SEE	D	0.12%
	CRC	A	0.12%
	FUL	F	0.12%
	ESGR	B	0.11%
	NHI	D	0.11%
	PLXS	B	0.11%
	DXC	D	0.11%
	DNB	B	0.11%
	IAC	D	0.11%
	MDGL	C	0.11%
	KFY	B	0.11%
	MAC	A	0.11%
	EDR	A	0.11%
	AEO	F	0.11%
	AGO	A	0.11%
	HUN	F	0.11%
	HL	C	0.11%
	MGEE	A	0.1%
	RUSHA	B	0.1%
	ABM	B	0.1%
	ESE	B	0.1%
	HCC	B	0.1%
	AUB	B	0.1%
	AX	B	0.1%
	SXT	C	0.1%
	NPO	A	0.1%
	GVA	A	0.1%
	UCB	A	0.1%
	FBP	B	0.1%
	MPW	F	0.1%
	HIW	D	0.1%
	SANM	B	0.1%
	GMS	B	0.1%
	BNL	D	0.1%
	PBH	A	0.1%
	SEM	B	0.1%
	SKT	A	0.1%
	WD	D	0.1%
	GNW	A	0.09%
	SATS	C	0.09%
	FHB	B	0.09%
	PRIM	A	0.09%
	ALIT	C	0.09%
	UNF	B	0.09%
	PTEN	C	0.09%
	WSFS	B	0.09%
	APAM	B	0.09%
	NWL	B	0.09%
	ATKR	D	0.09%
	AVA	C	0.09%
	CBU	B	0.09%
	COMP	B	0.09%
	WBA	F	0.09%
	GFF	B	0.09%
	AWR	A	0.09%
	CWK	C	0.09%
	BEN	C	0.09%
	BTU	C	0.09%
	EBC	B	0.09%
	BRC	C	0.09%
	APLE	B	0.09%
	SKYW	B	0.09%
	AROC	A	0.09%
	EAT	A	0.09%
	OTTR	C	0.09%
	BGC	C	0.09%
	FULT	B	0.09%
	TGNA	B	0.08%
	HUBG	A	0.08%
	URBN	C	0.08%
	ATGE	B	0.08%
	BKU	A	0.08%
	DY	C	0.08%
	AIN	C	0.08%
	ABR	B	0.08%
	ADTN	A	0.08%
	REZI	A	0.08%
	LXP	D	0.08%
	IOSP	C	0.08%
	WAFD	B	0.08%
	TRN	A	0.08%
	PENN	C	0.08%
	PRGS	B	0.08%
	PFSI	C	0.08%
	DEI	B	0.08%
	CATY	B	0.08%
	WERN	B	0.07%
	ENR	B	0.07%
	SM	C	0.07%
	FFBC	B	0.07%
	PFS	B	0.07%
	PECO	A	0.07%
	HAYW	B	0.07%
	MTRN	C	0.07%
	AAP	D	0.07%
	AZZ	A	0.07%
	BOKF	B	0.07%
	BFH	B	0.07%
	CVBF	B	0.07%
	ARCH	B	0.07%
	SMMT	D	0.07%
	INDB	B	0.07%
	HNI	B	0.07%
	PPBI	B	0.07%
	PRK	B	0.07%
	FL	F	0.07%
	DBRG	F	0.07%
	HBI	B	0.07%
	OSIS	A	0.07%
	RNG	C	0.07%
	AKR	A	0.07%
	CDE	C	0.07%
	MTX	C	0.07%
	BOH	B	0.07%
	VIRT	A	0.07%
	SPB	C	0.07%
	CWEN	C	0.07%
	RNA	C	0.07%
	ARCB	C	0.07%
	IOVA	F	0.07%
	FIBK	B	0.07%
	SFNC	B	0.07%
	MGRC	B	0.07%
	OUT	A	0.07%
	BXMT	C	0.07%
	UE	A	0.07%
	PHIN	B	0.06%
	BANF	B	0.06%
	RXO	C	0.06%
	HURN	B	0.06%
	GNL	D	0.06%
	PRG	C	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%
	VYX	C	0.06%
	SFBS	B	0.06%
	JOBY	B	0.06%
	NBTB	B	0.06%
	VGR	B	0.06%
	VIAV	C	0.06%
	PINC	B	0.06%
	OMCL	C	0.06%
	VSCO	A	0.06%
	KMT	C	0.06%
	CGON	F	0.06%
	LAUR	A	0.06%
	EQC	A	0.06%
	IBTX	B	0.06%
	OI	D	0.06%
	IVT	A	0.06%
	BANR	B	0.06%
	NATL	B	0.06%
	FRME	B	0.06%
	OFG	B	0.06%
	TDS	B	0.06%
	SHO	D	0.06%
	STRA	C	0.06%
	SXI	B	0.06%
	TOWN	B	0.06%
	EVTC	B	0.06%
	ZD	B	0.06%
	ZG	A	0.06%
	AIR	B	0.06%
	KSS	F	0.06%
	MHO	D	0.06%
	MIR	A	0.06%
	PSMT	D	0.06%
	VRNT	D	0.05%
	CABO	C	0.05%
	UPBD	C	0.05%
	HLIO	C	0.05%
	HE	C	0.05%
	LTC	B	0.05%
	NBHC	B	0.05%
	CENTA	C	0.05%
	AMN	F	0.05%
	CRGY	A	0.05%
	ANDE	F	0.05%
	SUPN	B	0.05%
	REYN	D	0.05%
	STEP	B	0.05%
	CHCO	B	0.05%
	DDS	B	0.05%
	NHC	B	0.05%
	SCL	D	0.05%
	FCF	B	0.05%
	NPAB	F	0.05%
	WSBC	B	0.05%
	SHOO	D	0.05%
	NWBI	B	0.05%
	GEO	A	0.05%
	DRH	B	0.05%
	MLKN	F	0.05%
	PDCO	F	0.05%
	TROX	D	0.05%
	WKC	D	0.05%
	LEG	F	0.05%
	LGND	C	0.05%
	MCY	B	0.05%
	TRMK	B	0.05%
	LRN	A	0.05%
	PZZA	F	0.05%
	TTMI	B	0.05%
	GOLF	B	0.05%
	FTRE	D	0.05%
	EPC	F	0.05%
	LZB	B	0.05%
	KAR	A	0.05%
	B	A	0.05%
	CAKE	B	0.05%
	IMVT	F	0.05%
	ROIC	A	0.05%
	PBI	B	0.04%
	AIV	C	0.04%
	INSW	F	0.04%
	AAT	A	0.04%
	PMT	D	0.04%
	UVV	B	0.04%
	WOR	F	0.04%
	PDM	D	0.04%
	WABC	B	0.04%
	JELD	F	0.04%
	ARI	C	0.04%
	BKD	F	0.04%
	OXM	F	0.04%
	NNI	D	0.04%
	UNIT	B	0.04%
	NX	C	0.04%
	LADR	B	0.04%
	VCTR	B	0.04%
	WWW	A	0.04%
	CXW	B	0.04%
	BKE	B	0.04%
	SPNT	A	0.04%
	HP	C	0.04%
	VSAT	F	0.04%
	CSGS	B	0.04%
	WT	A	0.04%
	DNOW	B	0.04%
	DAN	F	0.04%
	RRR	F	0.04%
	REVG	B	0.04%
	SBH	B	0.04%
	ALEX	B	0.04%
	VRE	A	0.04%
	BLMN	F	0.04%
	VRTS	B	0.04%
	HELE	C	0.04%
	NGVT	C	0.04%
	CODI	B	0.04%
	HMN	B	0.04%
	HOPE	B	0.04%
	ESRT	C	0.04%
	LCII	D	0.04%
	HTH	B	0.04%
	NTCT	C	0.04%
	GBX	B	0.04%
	HEES	C	0.04%
	JBGS	F	0.04%
	KN	B	0.04%
	BHE	B	0.04%
	STBA	B	0.04%
	CNK	A	0.04%
	DYN	F	0.04%
	APOG	B	0.04%
	GO	C	0.04%
	ELME	D	0.04%
	GTY	A	0.04%
	NWN	A	0.04%
	USM	B	0.03%
	MATV	F	0.03%
	SMR	A	0.03%
	CMTG	D	0.03%
	JACK	D	0.03%
	BDN	C	0.03%
	BV	C	0.03%
	LGF.A	F	0.03%
	DNUT	F	0.03%
	MMI	B	0.03%
	ODP	F	0.03%
	UNFI	B	0.03%
	JBLU	F	0.03%
	CWEN	C	0.03%
	TRS	B	0.03%
	MD	C	0.03%
	CBRL	C	0.03%
	THR	B	0.03%
	FA	D	0.03%
	ATSG	A	0.03%
	RWT	D	0.03%
	INVA	C	0.03%
	VSTO	A	0.03%
	LEVI	F	0.03%
	MRC	B	0.03%
	HTLF	B	0.03%
	SCSC	B	0.03%
	CARS	C	0.03%
	SNDR	B	0.03%
	ECPG	C	0.03%
	FBRT	C	0.03%
	CNNE	B	0.03%
	CSR	A	0.03%
	ETWO	F	0.03%
	AVNS	F	0.03%
	KALU	C	0.03%
	WMK	B	0.03%
	WS	B	0.03%
	KFRC	D	0.03%
	ACT	D	0.03%
	KWR	D	0.03%
	FDP	B	0.03%
	SCS	B	0.03%
	XRX	F	0.03%
	OMI	F	0.03%
	DK	D	0.03%
	SAFT	B	0.03%
	BHLB	B	0.03%
	AMRX	C	0.03%
	GIII	D	0.03%
	MYGN	F	0.03%
	EIG	B	0.03%
	NAVI	F	0.03%
	MSGE	F	0.03%
	IART	C	0.03%
	LC	B	0.03%
	TILE	B	0.02%
	HTLD	B	0.02%
	ATUS	C	0.02%
	MXL	C	0.02%
	CAL	F	0.02%
	FOR	F	0.02%
	GES	F	0.02%
	BMBL	C	0.02%
	BASE	C	0.02%
	SCHL	F	0.02%
	CMPR	F	0.02%
	HY	D	0.02%
	KELYA	F	0.02%
	CFFN	B	0.02%
	PCRX	C	0.02%
	SWI	B	0.02%
	TMP	B	0.02%
	BGS	F	0.02%
	MATW	C	0.02%
	HPP	F	0.02%
	PUMP	D	0.02%
	UHAL	D	0.02%
	HLF	C	0.02%
	AXL	C	0.02%
	RGR	F	0.02%
	KOP	C	0.02%
	ECVT	C	0.02%
	AMWD	C	0.02%
	KREF	D	0.02%
	ASTE	C	0.02%
	BRSP	C	0.02%
	PRLB	C	0.02%
	XHR	B	0.02%
	SVC	F	0.02%
	MODG	F	0.02%
	SEB	F	0.02%
	PRA	B	0.02%
	SAH	B	0.02%
	HAIN	D	0.02%
	WNC	D	0.02%
	CVI	D	0.02%
	EMBC	D	0.02%
	HCSG	C	0.02%
	MNRO	C	0.02%
	PRAA	C	0.02%
	FG	B	0.02%
	BRKL	B	0.02%
	EYE	C	0.02%
	DLX	B	0.02%
	RBRK	A	0.02%
	NUS	C	0.01%
	LDI	C	0.01%
	BRCC	F	0.01%
	OPK	B	0.01%
	TWKS	B	0.01%
	DJT	C	0.01%
	DIN	C	0.01%
	OLPX	D	0.01%
	VREX	C	0.01%
	CENT	C	0.01%
	TGI	A	0.01%
	ALX	D	0.01%
	CMP	C	0.01%
	AMBC	C	0.01%
	TRTX	B	0.01%
	SWBI	C	0.01%
	KRO	F	0.01%
	SRCL	B	0.01%
	ZIP	D	0.01%
	NAPA	A	0.01%
	CNDT	D	0.01%
	CRCT	F	0.01%
	WOOF	D	0.01%
	EGBN	B	0.01%
	RUSHB	B	0.01%
	WRLD	D	0.01%
	HTZ	C	0.01%
	INN	D	0.01%
	VMEO	C	0.01%
	BJRI	C	0.01%
	EE	A	0.01%
	RMR	F	0.01%
	GRC	B	0.01%
	PTVE	B	0.01%
	NVRI	F	0.01%
	FWRD	D	0.01%
	NABL	F	0.01%
	USNA	C	0.01%
	CLB	C	0.01%
	SSTK	F	0.01%
	CLBK	C	0.01%
	CCO	D	0.01%
	ARRY	F	0.01%
	GCMG	A	0.01%
	LGF.A	F	0.01%
	CWH	C	0.01%
	BFS	C	0.01%
	DAWN	D	0.01%
	PWSC	C	0.0%
	SCWX	C	0.0%
	AC	B	0.0%
	AMCX	C	0.0%
	TASK	C	0.0%
	ACDC	C	0.0%
	LESL	C	0.0%

VBR Underweight 143 Positions Relative to MIDU

	Symbol	Grade	Weight
	TPL	A	-0.54%
	ILMN	C	-0.52%
	LII	A	-0.42%
	IBKR	A	-0.4%
	WSO	A	-0.39%
	MANH	D	-0.37%
	RBA	A	-0.36%
	PSTG	F	-0.36%
	DT	C	-0.36%
	BURL	A	-0.35%
	FIX	A	-0.34%
	AVTR	F	-0.34%
	FNF	A	-0.34%
	SAIA	C	-0.33%
	CASY	A	-0.33%
	DOCU	B	-0.33%
	GGG	B	-0.32%
	CW	B	-0.31%
	CLH	C	-0.29%
	TXRH	B	-0.29%
	ELS	B	-0.28%
	LECO	C	-0.27%
	BMRN	F	-0.27%
	NBIX	C	-0.27%
	DUOL	A	-0.26%
	WPC	C	-0.26%
	SRPT	F	-0.26%
	AMH	C	-0.25%
	WMS	F	-0.25%
	BLD	F	-0.24%
	CUBE	C	-0.23%
	EXP	B	-0.23%
	BWXT	A	-0.23%
	CHDN	C	-0.23%
	FND	F	-0.23%
	KNSL	B	-0.22%
	HLI	B	-0.22%
	EXEL	B	-0.22%
	CNH	C	-0.22%
	WWD	B	-0.22%
	RGLD	C	-0.21%
	CIEN	B	-0.21%
	PEN	B	-0.2%
	CNM	C	-0.2%
	MEDP	D	-0.2%
	RBC	A	-0.2%
	WING	D	-0.2%
	PCTY	B	-0.2%
	MORN	B	-0.2%
	GMED	A	-0.2%
	REXR	F	-0.2%
	TPX	B	-0.19%
	BRBR	A	-0.19%
	TTC	F	-0.19%
	ONTO	F	-0.19%
	LNW	F	-0.19%
	FN	B	-0.19%
	ENSG	D	-0.18%
	AAON	B	-0.18%
	SKX	F	-0.18%
	OLED	F	-0.18%
	CHE	F	-0.18%
	HQY	A	-0.18%
	HALO	F	-0.17%
	WEX	F	-0.17%
	SSD	D	-0.17%
	HLNE	A	-0.17%
	TREX	D	-0.17%
	TKO	A	-0.17%
	PLNT	A	-0.16%
	EXLS	B	-0.16%
	CGNX	D	-0.16%
	GXO	B	-0.16%
	MASI	B	-0.16%
	LSCC	D	-0.16%
	CVLT	B	-0.16%
	WH	B	-0.16%
	RGEN	F	-0.16%
	MTN	C	-0.15%
	LSTR	D	-0.15%
	H	B	-0.15%
	ALV	C	-0.15%
	COKE	C	-0.15%
	GTLS	A	-0.15%
	MTSI	B	-0.15%
	RYAN	B	-0.15%
	GNTX	F	-0.15%
	DAR	B	-0.14%
	LNTH	F	-0.14%
	LFUS	D	-0.14%
	BRKR	F	-0.14%
	CYTK	D	-0.14%
	NOVT	D	-0.14%
	WFRD	F	-0.14%
	NOV	D	-0.14%
	DBX	C	-0.14%
	MTDR	C	-0.14%
	OLLI	D	-0.13%
	QLYS	C	-0.13%
	ELF	C	-0.13%
	KRG	A	-0.13%
	CHX	C	-0.13%
	CROX	F	-0.13%
	ALTR	B	-0.13%
	RMBS	C	-0.13%
	EXPO	D	-0.12%
	MMS	D	-0.12%
	RH	D	-0.11%
	CIVI	D	-0.11%
	LITE	B	-0.11%
	HXL	F	-0.11%
	ROIV	D	-0.11%
	APPF	C	-0.11%
	DOCS	C	-0.11%
	ORA	B	-0.1%
	DLB	F	-0.1%
	IRT	A	-0.1%
	WMG	C	-0.1%
	FIVE	F	-0.1%
	LOPE	B	-0.1%
	CELH	F	-0.1%
	HAE	C	-0.09%
	OPCH	F	-0.09%
	CHWY	B	-0.09%
	EEFT	C	-0.09%
	NEU	D	-0.09%
	VAL	F	-0.08%
	IRDM	F	-0.08%
	SLAB	F	-0.08%
	POWI	D	-0.08%
	LANC	D	-0.08%
	YETI	D	-0.07%
	NEOG	D	-0.07%
	CHH	A	-0.07%
	ZI	D	-0.07%
	ALGM	F	-0.07%
	HGV	C	-0.06%
	ARWR	D	-0.06%
	SAM	C	-0.06%
	LIVN	D	-0.06%
	NSA	C	-0.06%
	RCM	A	-0.05%
	SHC	F	-0.05%

VBR: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials REIT - Diversified Asset Management REIT - Retail Specialty Chemicals Information Technology Services Software - Application Apparel Manufacturing REIT - Office Biotechnology Oil & Gas E&P Specialty Retail Building Materials Packaging & Containers Packaged Foods Rental & Leasing Services Auto & Truck Dealerships Business Services Engineering & Construction

Keywords: Bank Banking Real Estate Investment Trust S&P 500 Deposit Products Chemical Insurance Mining Natural Gas Real Estate Loans Aerospace Commercial Banking Transport Clothing Telecommunications Construction Electronics Commercial Bank Computing Mortgage Loan

MIDU: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Biotechnology Software - Application Business Services Oil & Gas E&P Specialty Chemicals Asset Management Packaging & Containers Semiconductors Specialty Retail Building Materials Diagnostics & Research Engineering & Construction Apparel Manufacturing Medical Care Packaged Foods REIT - Diversified REIT - Industrial Scientific & Technical Instruments

Keywords: Bank Banking Mining Chemical Natural Gas Insurance Real Estate Investment Trust Electronics Aerospace Semiconductor Computing Supply Chain Management Beverage Construction Deposit Products Telecommunications Biotechnology Commercial Banking Insurance Products Building Materials