VBR vs. ONEQ ETF Comparison

Comparison of Vanguard Small-Cap Value ETF - DNQ (VBR) to Fidelity Nasdaq Composite Index Tracking Stock (ONEQ)

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

$213.47

Average Daily Volume

424,590

Number of Holdings ^*

794

* may have additional holdings in another (foreign) market

ONEQ

Fidelity Nasdaq Composite Index Tracking Stock

ONEQ Description

ONEQ tracks only Nasdaq-listed companies and ignores those trading on the NYSE or other exchanges. The funds underlying index comprises all domestic and international companies listed in Nasdaq. ONEQs portfolio may favor technology firms, which in the past have dominated the Nasdaq market. This is at the expense of energy, industrials, financials and other industries. Its heavy weightings to large-cap firms may increase single-stock blowup risk. Much like the market it aims to track, ONEQ is essentially a growth play, carrying elevated P/E and P/B ratios and paying smaller dividends. This exposure has translated to higher market risk. ONEQ uses a sampling strategy to track its index, which is reconstituted and rebalanced daily.

Grade (RS Rating)

Last Trade

$74.95

Average Daily Volume

238,552

Number of Holdings ^*

830

* may have additional holdings in another (foreign) market

Performance

Period	VBR	ONEQ
30 Days	6.79%	4.10%
60 Days	6.95%	5.77%
90 Days	8.40%	6.51%
12 Months	33.61%	33.93%

212 Overlapping Holdings

Symbol	Grade	Weight in VBR	Weight in ONEQ	Overlap
AAL	B	0.26%	0.03%	0.03%
ACHC	F	0.11%	0.01%	0.01%
ACT	D	0.03%	0.02%	0.02%
AGNC	D	0.21%	0.02%	0.02%
AMED	F	0.09%	0.01%	0.01%
AMKR	D	0.08%	0.02%	0.02%
AMRX	C	0.03%	0.01%	0.01%
AMWD	C	0.02%	0.01%	0.01%
ANDE	D	0.04%	0.01%	0.01%
APA	D	0.26%	0.03%	0.03%
APOG	B	0.05%	0.01%	0.01%
ARCB	C	0.07%	0.01%	0.01%
ASO	F	0.11%	0.01%	0.01%
ASTE	B	0.02%	0.01%	0.01%
ATSG	B	0.03%	0.01%	0.01%
AUR	C	0.14%	0.02%	0.02%
AVT	C	0.14%	0.01%	0.01%
AZTA	D	0.06%	0.01%	0.01%
BANF	B	0.06%	0.02%	0.02%
BANR	B	0.06%	0.01%	0.01%
BASE	C	0.02%	0.01%	0.01%
BECN	B	0.17%	0.02%	0.02%
BGC	C	0.1%	0.02%	0.02%
BHF	B	0.08%	0.01%	0.01%
BLKB	B	0.06%	0.02%	0.02%
BLMN	F	0.04%	0.01%	0.01%
BMBL	D	0.02%	0.01%	0.01%
BOKF	B	0.07%	0.03%	0.03%
BPOP	B	0.19%	0.02%	0.02%
CAKE	C	0.06%	0.01%	0.01%
CAR	C	0.04%	0.01%	0.01%
CATY	B	0.09%	0.02%	0.02%
CBRL	C	0.03%	0.01%	0.01%
CBSH	A	0.21%	0.03%	0.03%
CENTA	C	0.04%	0.01%	0.01%
CG	A	0.34%	0.06%	0.06%
CGON	F	0.06%	0.01%	0.01%
CHCO	B	0.05%	0.01%	0.01%
CHRD	D	0.23%	0.03%	0.03%
CHRW	C	0.34%	0.04%	0.04%
CLBK	B	0.01%	0.01%	0.01%
CMPR	D	0.02%	0.01%	0.01%
CNDT	C	0.01%	0.01%	0.01%
CNXC	F	0.07%	0.01%	0.01%
COLB	A	0.17%	0.03%	0.03%
COLM	B	0.04%	0.02%	0.02%
COOP	B	0.16%	0.02%	0.02%
CRUS	D	0.17%	0.02%	0.02%
CSGS	B	0.04%	0.01%	0.01%
CVBF	A	0.08%	0.01%	0.01%
DAWN	F	0.02%	0.01%	0.01%
DJT	C	0.01%	0.02%	0.01%
DNUT	D	0.03%	0.01%	0.01%
DYN	F	0.04%	0.01%	0.01%
EBC	B	0.09%	0.01%	0.01%
ECPG	B	0.03%	0.01%	0.01%
EMBC	C	0.02%	0.01%	0.01%
ESGR	B	0.11%	0.01%	0.01%
EVRG	A	0.19%	0.04%	0.04%
EWBC	A	0.39%	0.05%	0.05%
EYE	C	0.02%	0.01%	0.01%
FA	C	0.03%	0.01%	0.01%
FCNCA	A	0.61%	0.1%	0.1%
FFBC	A	0.07%	0.01%	0.01%
FFIN	B	0.13%	0.02%	0.02%
FFIV	B	0.4%	0.04%	0.04%
FHB	A	0.09%	0.01%	0.01%
FIBK	A	0.08%	0.01%	0.01%
FRME	B	0.06%	0.01%	0.01%
FTRE	D	0.04%	0.01%	0.01%
FULT	A	0.1%	0.01%	0.01%
FWRD	D	0.01%	0.01%	0.01%
FYBR	D	0.26%	0.03%	0.03%
GIII	D	0.03%	0.01%	0.01%
GLPI	C	0.38%	0.04%	0.04%
GT	C	0.07%	0.01%	0.01%
HAIN	C	0.02%	0.01%	0.01%
HAS	D	0.25%	0.03%	0.03%
HEES	B	0.05%	0.01%	0.01%
HOPE	B	0.04%	0.01%	0.01%
HSIC	B	0.26%	0.03%	0.03%
HTLD	B	0.01%	0.01%	0.01%
HTLF	B	0.03%	0.01%	0.01%
HTZ	C	0.01%	0.01%	0.01%
HUBG	A	0.07%	0.01%	0.01%
HURN	B	0.06%	0.01%	0.01%
HWC	B	0.13%	0.02%	0.02%
IAC	D	0.1%	0.01%	0.01%
IBOC	A	0.1%	0.02%	0.02%
IBTX	B	0.06%	0.01%	0.01%
ICUI	D	0.12%	0.02%	0.02%
IMVT	F	0.06%	0.01%	0.01%
INDB	B	0.07%	0.01%	0.01%
INVA	D	0.03%	0.01%	0.01%
IOSP	B	0.08%	0.01%	0.01%
IOVA	F	0.08%	0.01%	0.01%
JACK	D	0.03%	0.01%	0.01%
JAZZ	B	0.19%	0.02%	0.02%
JBLU	F	0.02%	0.01%	0.01%
KALU	C	0.03%	0.01%	0.01%
LAMR	D	0.17%	0.03%	0.03%
LAUR	A	0.06%	0.01%	0.01%
LGND	B	0.05%	0.01%	0.01%
LKQ	D	0.28%	0.03%	0.03%
LYFT	C	0.13%	0.02%	0.02%
MAT	D	0.2%	0.02%	0.02%
MATW	C	0.02%	0.01%	0.01%
MDGL	B	0.14%	0.02%	0.02%
MGEE	C	0.1%	0.02%	0.02%
MGRC	B	0.08%	0.01%	0.01%
MIDD	C	0.2%	0.02%	0.02%
MKSI	C	0.2%	0.02%	0.02%
MLKN	D	0.05%	0.01%	0.01%
MYGN	F	0.03%	0.01%	0.01%
NAVI	C	0.03%	0.01%	0.01%
NBTB	B	0.06%	0.01%	0.01%
NMRK	B	0.06%	0.01%	0.01%
NPAB	B	0.04%	0.01%	0.01%
NSIT	F	0.17%	0.01%	0.01%
NTCT	C	0.04%	0.01%	0.01%
NUVL	D	0.11%	0.02%	0.02%
NWBI	B	0.05%	0.01%	0.01%
NWE	A	0.1%	0.01%	0.01%
NWL	B	0.1%	0.02%	0.02%
NXST	C	0.16%	0.02%	0.02%
ODP	F	0.03%	0.01%	0.01%
OLPX	D	0.01%	0.01%	0.01%
OMCL	C	0.07%	0.01%	0.01%
ONB	B	0.18%	0.02%	0.02%
OPK	C	0.01%	0.01%	0.01%
OSIS	B	0.06%	0.01%	0.01%
OTTR	C	0.1%	0.01%	0.01%
OZK	B	0.14%	0.02%	0.02%
PARA	C	0.17%	0.03%	0.03%
PCH	D	0.1%	0.01%	0.01%
PDCO	D	0.05%	0.01%	0.01%
PECO	A	0.07%	0.02%	0.02%
PENN	C	0.09%	0.01%	0.01%
PINC	B	0.06%	0.01%	0.01%
PLXS	B	0.11%	0.02%	0.02%
PNFP	B	0.11%	0.03%	0.03%
PPBI	B	0.07%	0.01%	0.01%
PPC	C	0.05%	0.04%	0.04%
PRGS	A	0.08%	0.01%	0.01%
PSMT	C	0.06%	0.01%	0.01%
PTEN	C	0.09%	0.01%	0.01%
PTVE	B	0.01%	0.01%	0.01%
QRVO	F	0.2%	0.02%	0.02%
REG	B	0.38%	0.04%	0.04%
REYN	D	0.04%	0.02%	0.02%
RIVN	F	0.13%	0.04%	0.04%
RNA	D	0.07%	0.01%	0.01%
ROIC	A	0.05%	0.01%	0.01%
RRR	D	0.04%	0.01%	0.01%
RUSHA	C	0.1%	0.02%	0.02%
SAFT	C	0.03%	0.01%	0.01%
SAIC	F	0.22%	0.03%	0.03%
SANM	B	0.11%	0.02%	0.02%
SATS	D	0.09%	0.01%	0.01%
SBRA	C	0.13%	0.02%	0.02%
SCSC	B	0.03%	0.01%	0.01%
SEIC	B	0.26%	0.04%	0.04%
SFM	A	0.38%	0.05%	0.05%
SFNC	B	0.08%	0.02%	0.02%
SHOO	D	0.05%	0.01%	0.01%
SIGI	C	0.16%	0.02%	0.02%
SIRI	C	0.17%	0.03%	0.03%
SKYW	B	0.11%	0.02%	0.02%
SLM	A	0.14%	0.02%	0.02%
SMMT	D	0.06%	0.04%	0.04%
STBA	B	0.04%	0.01%	0.01%
STEP	B	0.05%	0.02%	0.02%
STLD	B	0.28%	0.07%	0.07%
STRA	C	0.06%	0.01%	0.01%
SUPN	C	0.05%	0.01%	0.01%
SYNA	C	0.08%	0.01%	0.01%
TCBI	B	0.1%	0.02%	0.02%
TOWN	B	0.06%	0.01%	0.01%
TPG	A	0.16%	0.02%	0.02%
TRMK	B	0.06%	0.01%	0.01%
TRS	B	0.03%	0.01%	0.01%
TTEK	F	0.38%	0.04%	0.04%
TTMI	B	0.06%	0.01%	0.01%
UBSI	B	0.15%	0.02%	0.02%
UFPI	B	0.21%	0.02%	0.02%
UMBF	B	0.13%	0.02%	0.02%
UNIT	B	0.03%	0.01%	0.01%
UPBD	B	0.04%	0.01%	0.01%
URBN	C	0.07%	0.01%	0.01%
UTHR	C	0.49%	0.05%	0.05%
VC	D	0.04%	0.01%	0.01%
VCTR	B	0.04%	0.02%	0.02%
VIAV	B	0.06%	0.01%	0.01%
VIRT	B	0.07%	0.02%	0.02%
VLY	B	0.12%	0.02%	0.02%
VMEO	B	0.01%	0.01%	0.01%
VRNT	C	0.04%	0.01%	0.01%
WABC	B	0.04%	0.01%	0.01%
WAFD	B	0.08%	0.01%	0.01%
WBA	F	0.1%	0.02%	0.02%
WEN	D	0.1%	0.01%	0.01%
WERN	C	0.06%	0.01%	0.01%
WOOF	D	0.01%	0.01%	0.01%
WSBC	B	0.05%	0.01%	0.01%
WSFS	A	0.09%	0.02%	0.02%
WTFC	A	0.23%	0.03%	0.03%
XRAY	F	0.14%	0.01%	0.01%
XRX	F	0.03%	0.01%	0.01%
Z	A	0.27%	0.04%	0.04%
ZD	B	0.06%	0.01%	0.01%
ZG	A	0.06%	0.01%	0.01%
ZION	B	0.22%	0.03%	0.03%

VBR Overweight 582 Positions Relative to ONEQ

Symbol	Grade	Weight
SW	A	0.78%
BAH	F	0.69%
EME	C	0.61%
BLDR	D	0.58%
ATO	A	0.58%
CSL	C	0.57%
NRG	B	0.55%
RPM	A	0.48%
PNR	A	0.48%
KIM	A	0.47%
IEX	B	0.47%
RS	B	0.46%
OC	A	0.45%
TOL	B	0.44%
USFD	A	0.44%
THC	D	0.43%
ACM	B	0.42%
EQH	B	0.42%
RGA	A	0.41%
RNR	C	0.4%
JBL	B	0.39%
WSM	B	0.39%
JLL	D	0.38%
PFGC	B	0.37%
JNPR	F	0.37%
ALLE	D	0.36%
EMN	D	0.36%
CACI	D	0.36%
LDOS	C	0.36%
CPT	B	0.36%
NVT	B	0.36%
BG	F	0.35%
SJM	D	0.34%
UHS	D	0.34%
AES	F	0.34%
ATR	B	0.33%
SCI	B	0.33%
BJ	A	0.33%
CCK	C	0.33%
KMX	B	0.33%
ITT	A	0.33%
BXP	D	0.33%
HUBB	B	0.33%
TPR	B	0.32%
OHI	C	0.32%
IPG	D	0.32%
RRX	B	0.32%
EPAM	C	0.3%
FBIN	D	0.3%
OVV	B	0.3%
AA	B	0.3%
AIZ	A	0.29%
ARMK	B	0.29%
PNW	B	0.29%
EHC	B	0.29%
SOLV	C	0.29%
SF	B	0.29%
WCC	B	0.28%
TAP	C	0.28%
TFX	F	0.28%
GL	B	0.28%
WTRG	B	0.28%
UNM	A	0.28%
ALLY	C	0.28%
EVR	B	0.28%
AFG	A	0.28%
JEF	A	0.27%
AYI	B	0.27%
FRT	B	0.27%
FHN	A	0.27%
MLI	C	0.27%
ALSN	B	0.27%
PRI	A	0.27%
DTM	B	0.26%
DCI	B	0.26%
WBS	A	0.26%
AIT	A	0.26%
LAD	A	0.26%
KBR	F	0.26%
FLR	B	0.26%
MUSA	A	0.26%
APG	B	0.25%
CMA	A	0.25%
GPK	C	0.25%
GME	C	0.25%
MOS	F	0.25%
INGR	B	0.25%
NYT	C	0.25%
WAL	B	0.25%
VFC	C	0.24%
FMC	D	0.24%
BRX	A	0.24%
ORI	A	0.24%
AXTA	A	0.24%
HRB	D	0.24%
EGP	F	0.24%
DKS	C	0.23%
DOC	D	0.23%
X	C	0.23%
NI	A	0.23%
VOYA	B	0.23%
NNN	D	0.23%
KNX	B	0.23%
OGE	B	0.23%
SNX	C	0.22%
IVZ	B	0.22%
SSB	B	0.22%
ADC	B	0.22%
VNO	B	0.22%
JXN	C	0.22%
RL	B	0.22%
CR	A	0.22%
BWA	D	0.22%
BERY	B	0.22%
ESAB	B	0.21%
COHR	B	0.21%
MHK	D	0.21%
XPO	B	0.21%
HII	D	0.21%
CFR	B	0.21%
ANF	C	0.2%
RHI	B	0.2%
RLI	B	0.2%
TMHC	B	0.2%
STAG	F	0.2%
G	B	0.2%
SNV	B	0.2%
RRC	B	0.2%
FLS	B	0.2%
BIO	D	0.2%
FR	D	0.2%
FCN	D	0.2%
AGCO	D	0.19%
MTG	C	0.19%
LUMN	C	0.19%
MTH	D	0.19%
UHAL	D	0.19%
PB	A	0.19%
KEX	C	0.19%
OSK	B	0.19%
R	B	0.18%
ALK	C	0.18%
ESNT	D	0.18%
CLF	F	0.18%
CADE	B	0.18%
CMC	B	0.18%
MSA	D	0.18%
BBWI	D	0.18%
ELAN	D	0.18%
LPX	B	0.18%
DINO	D	0.18%
STWD	C	0.18%
FAF	A	0.18%
ARW	D	0.18%
VMI	B	0.18%
WHR	B	0.17%
VNT	B	0.17%
SRCL	C	0.17%
ACI	C	0.17%
SUM	B	0.17%
DVA	B	0.17%
ESI	A	0.17%
CBT	C	0.17%
GBCI	B	0.17%
LNC	B	0.17%
AXS	A	0.17%
OMF	A	0.17%
LEA	D	0.16%
MOG.A	B	0.16%
AMG	B	0.16%
PVH	C	0.16%
KNF	A	0.16%
IDA	A	0.16%
NFG	A	0.16%
ALB	C	0.16%
NCLH	B	0.16%
MDU	D	0.16%
KBH	D	0.15%
GAP	B	0.15%
UGI	A	0.15%
SON	D	0.15%
PSN	D	0.15%
BCC	B	0.15%
ST	F	0.15%
VVV	F	0.15%
MATX	C	0.15%
FNB	A	0.15%
WTS	B	0.15%
TKR	D	0.15%
AN	C	0.15%
RDN	C	0.15%
THO	B	0.15%
JHG	A	0.15%
BC	C	0.15%
KD	B	0.15%
GPI	A	0.14%
BDC	B	0.14%
RYN	D	0.14%
CUZ	B	0.14%
KRC	C	0.14%
KTB	B	0.14%
PIPR	B	0.14%
THG	A	0.14%
OLN	D	0.14%
OGN	D	0.14%
AM	A	0.14%
POR	C	0.14%
CNX	A	0.14%
SLG	B	0.14%
HOMB	A	0.14%
GATX	A	0.14%
ZWS	B	0.14%
PR	B	0.13%
BCO	D	0.13%
WTM	A	0.13%
EAT	A	0.13%
AL	B	0.13%
SWX	B	0.13%
MUR	D	0.13%
NJR	A	0.13%
ABG	B	0.13%
GTES	A	0.13%
ACA	A	0.13%
DNB	B	0.12%
FUL	F	0.12%
M	D	0.12%
OGS	A	0.12%
MAC	B	0.12%
ABCB	B	0.12%
EDR	A	0.12%
HASI	D	0.12%
BKH	A	0.12%
SLGN	A	0.12%
ITGR	B	0.12%
AGO	B	0.12%
CRC	A	0.12%
MGM	D	0.12%
FLO	D	0.12%
SEE	C	0.12%
AVNT	B	0.12%
TPH	D	0.11%
NVST	B	0.11%
HUN	F	0.11%
CDP	C	0.11%
SKT	B	0.11%
WU	D	0.11%
PBH	A	0.11%
AX	A	0.11%
GVA	A	0.11%
KFY	B	0.11%
ALE	A	0.11%
PII	D	0.11%
SMG	D	0.11%
HOG	D	0.11%
KMPR	B	0.11%
AR	B	0.11%
HL	D	0.11%
SIG	B	0.11%
MTZ	B	0.11%
ENS	D	0.11%
ASGN	F	0.11%
ASH	D	0.11%
PNM	F	0.11%
BEN	C	0.1%
TEX	D	0.1%
HCC	B	0.1%
BNL	D	0.1%
ABM	B	0.1%
SEM	B	0.1%
NHI	D	0.1%
UCB	A	0.1%
AUB	B	0.1%
ASB	B	0.1%
EPR	D	0.1%
CNO	A	0.1%
AEO	F	0.1%
PRGO	B	0.1%
SR	A	0.1%
WD	D	0.1%
GMS	B	0.1%
MSM	C	0.1%
HIW	D	0.1%
DXC	B	0.1%
GNW	A	0.09%
AVA	A	0.09%
JWN	C	0.09%
BRC	D	0.09%
DEI	B	0.09%
MAN	D	0.09%
MIR	A	0.09%
PAG	B	0.09%
NPO	A	0.09%
ADTN	A	0.09%
ATKR	C	0.09%
APAM	B	0.09%
AWR	B	0.09%
TDC	D	0.09%
CWK	B	0.09%
BTU	B	0.09%
FBP	B	0.09%
TNL	A	0.09%
PRIM	A	0.09%
SXT	B	0.09%
APLE	B	0.09%
COMP	B	0.09%
CBU	B	0.09%
AROC	B	0.09%
FHI	A	0.09%
ESE	B	0.09%
AKR	B	0.08%
COTY	F	0.08%
CXT	B	0.08%
LXP	D	0.08%
ABR	C	0.08%
BKU	A	0.08%
NSP	D	0.08%
PBF	D	0.08%
TDS	B	0.08%
UE	C	0.08%
UNF	B	0.08%
CC	C	0.08%
TGNA	B	0.08%
DBRG	F	0.08%
REZI	A	0.08%
GHC	C	0.08%
PK	B	0.08%
MPW	F	0.08%
ALIT	C	0.08%
GFF	A	0.08%
RNG	B	0.08%
TRN	B	0.08%
BOH	B	0.08%
ATGE	B	0.08%
BYD	C	0.07%
ENR	B	0.07%
ENOV	C	0.07%
CDE	D	0.07%
PFS	B	0.07%
HBI	B	0.07%
CWEN	C	0.07%
VSCO	B	0.07%
SPB	C	0.07%
SM	B	0.07%
DY	D	0.07%
MTX	B	0.07%
VAC	B	0.07%
HAYW	B	0.07%
BFH	B	0.07%
BXMT	C	0.07%
OUT	A	0.07%
PRK	B	0.07%
ARCH	B	0.07%
WLK	D	0.07%
PFSI	D	0.07%
POST	C	0.07%
NATL	B	0.06%
LRN	A	0.06%
RXO	C	0.06%
PHIN	A	0.06%
HI	C	0.06%
KSS	F	0.06%
KMT	B	0.06%
MHO	D	0.06%
AIR	B	0.06%
WLY	B	0.06%
GEO	B	0.06%
EQC	B	0.06%
SFBS	B	0.06%
SHO	C	0.06%
RNST	B	0.06%
EVTC	B	0.06%
MTRN	C	0.06%
VSH	D	0.06%
AIN	C	0.06%
INFA	D	0.06%
IVT	B	0.06%
AAP	C	0.06%
B	B	0.06%
IPGP	D	0.06%
AZZ	B	0.06%
JOBY	B	0.06%
SXI	B	0.06%
FL	F	0.06%
HNI	B	0.06%
CPRI	F	0.06%
SCL	C	0.05%
LZB	B	0.05%
DDS	B	0.05%
FCF	A	0.05%
UAA	C	0.05%
CNK	B	0.05%
LTC	B	0.05%
DRH	B	0.05%
HE	C	0.05%
THS	D	0.05%
NBHC	B	0.05%
GOLF	B	0.05%
PZZA	D	0.05%
KAR	B	0.05%
EPC	D	0.05%
OI	C	0.05%
GBX	A	0.05%
PRG	C	0.05%
VSTS	C	0.05%
GNL	F	0.05%
CRGY	B	0.05%
VYX	B	0.05%
MCY	A	0.05%
OFG	B	0.05%
CRI	D	0.05%
EIG	B	0.04%
PBI	B	0.04%
ARI	C	0.04%
AAT	B	0.04%
FDP	B	0.04%
PDM	D	0.04%
SPNT	A	0.04%
IART	C	0.04%
WS	B	0.04%
DNOW	B	0.04%
GO	C	0.04%
VRE	B	0.04%
BKE	B	0.04%
NNI	D	0.04%
LADR	B	0.04%
REVG	B	0.04%
SBH	C	0.04%
LCII	C	0.04%
ALEX	C	0.04%
NX	C	0.04%
ESRT	C	0.04%
HTH	B	0.04%
CODI	B	0.04%
WT	B	0.04%
TROX	D	0.04%
AMN	F	0.04%
CXW	B	0.04%
SMR	B	0.04%
HELE	C	0.04%
KN	B	0.04%
VRTS	B	0.04%
WKC	D	0.04%
JBGS	D	0.04%
NWN	A	0.04%
ELME	D	0.04%
BHE	B	0.04%
HP	B	0.04%
LC	A	0.04%
HMN	B	0.04%
NGVT	B	0.04%
NHC	C	0.04%
GEF	A	0.04%
LEG	F	0.04%
GTY	B	0.04%
HLIO	B	0.04%
CABO	C	0.04%
AVNS	F	0.03%
MMI	B	0.03%
THR	B	0.03%
LGF.A	C	0.03%
CWEN	C	0.03%
BV	B	0.03%
OMI	F	0.03%
BRKL	B	0.03%
DK	C	0.03%
RWT	D	0.03%
USM	B	0.03%
MRC	B	0.03%
DAN	D	0.03%
CARS	B	0.03%
UA	B	0.03%
WMK	C	0.03%
SCS	C	0.03%
KWR	C	0.03%
INSW	F	0.03%
SNDR	B	0.03%
MD	B	0.03%
KFRC	D	0.03%
FBRT	C	0.03%
CSR	B	0.03%
OXM	D	0.03%
VSAT	F	0.03%
RBRK	A	0.03%
CNNE	B	0.03%
MSGE	F	0.03%
AIV	C	0.03%
JELD	F	0.03%
UNFI	A	0.03%
WOR	F	0.03%
VSTO	A	0.03%
WWW	B	0.03%
BHLB	B	0.03%
PMT	D	0.03%
BKD	D	0.03%
UVV	B	0.03%
SVC	F	0.02%
ATUS	C	0.02%
CVI	F	0.02%
FOR	F	0.02%
NAPA	B	0.02%
CWH	B	0.02%
HPP	F	0.02%
PUMP	B	0.02%
KELYA	F	0.02%
HY	D	0.02%
AXL	C	0.02%
BGS	F	0.02%
UHAL	D	0.02%
RGR	F	0.02%
KOP	C	0.02%
SWI	B	0.02%
MODG	F	0.02%
SEB	F	0.02%
KREF	D	0.02%
PRLB	A	0.02%
ECVT	C	0.02%
ETWO	F	0.02%
XHR	B	0.02%
HLF	C	0.02%
CFFN	B	0.02%
PCRX	C	0.02%
WNC	C	0.02%
CMTG	F	0.02%
TMP	B	0.02%
SAH	A	0.02%
PRAA	C	0.02%
FG	B	0.02%
PRA	C	0.02%
MNRO	D	0.02%
BRSP	B	0.02%
MATV	D	0.02%
HCSG	C	0.02%
LEVI	F	0.02%
DLX	B	0.02%
BDN	C	0.02%
TWKS	D	0.01%
DIN	C	0.01%
CENT	C	0.01%
ALX	D	0.01%
CMP	C	0.01%
AMBC	C	0.01%
KRO	D	0.01%
TGI	B	0.01%
VREX	C	0.01%
SWBI	C	0.01%
ZIP	F	0.01%
TRTX	B	0.01%
SRCL	C	0.01%
CRCT	F	0.01%
NVRI	F	0.01%
INN	D	0.01%
RUSHB	B	0.01%
WRLD	C	0.01%
RMR	F	0.01%
EGBN	B	0.01%
GRC	A	0.01%
EE	A	0.01%
NABL	F	0.01%
SSTK	F	0.01%
BJRI	B	0.01%
USNA	C	0.01%
CCO	C	0.01%
CLB	B	0.01%
ARRY	D	0.01%
BFS	C	0.01%
SCHL	D	0.01%
TILE	B	0.01%
GCMG	B	0.01%
MXL	C	0.01%
LGF.A	C	0.01%
CAL	D	0.01%
GES	F	0.01%
SCWX	B	0.0%
AC	C	0.0%
AMCX	C	0.0%
ACDC	C	0.0%
TASK	C	0.0%
LESL	C	0.0%
LDI	C	0.0%
GEF	A	0.0%
NUS	D	0.0%
BRCC	F	0.0%

VBR Underweight 618 Positions Relative to ONEQ

Symbol	Grade	Weight
NVDA	C	-11.52%
AAPL	C	-11.32%
MSFT	F	-10.23%
AMZN	C	-7.05%
META	D	-4.0%
TSLA	B	-3.4%
GOOGL	C	-3.35%
GOOG	C	-3.22%
AVGO	D	-2.53%
COST	B	-1.33%
NFLX	A	-1.17%
TMUS	B	-0.89%
CSCO	B	-0.76%
ADBE	C	-0.74%
AMD	F	-0.72%
PEP	F	-0.7%
LIN	D	-0.69%
INTU	C	-0.63%
ISRG	A	-0.61%
QCOM	F	-0.59%
TXN	C	-0.59%
BKNG	A	-0.54%
CMCSA	B	-0.54%
AMGN	D	-0.5%
HON	B	-0.49%
AMAT	F	-0.46%
PANW	C	-0.41%
ADP	B	-0.4%
VRTX	F	-0.39%
SBUX	A	-0.37%
GILD	C	-0.36%
INTC	D	-0.35%
MU	D	-0.35%
ADI	D	-0.34%
MELI	D	-0.32%
LRCX	F	-0.3%
PYPL	B	-0.29%
EQIX	A	-0.28%
APP	B	-0.28%
MDLZ	F	-0.28%
CTAS	B	-0.27%
REGN	F	-0.27%
KLAC	D	-0.27%
CME	A	-0.27%
CRWD	B	-0.26%
CDNS	B	-0.26%
SNPS	B	-0.26%
MRVL	B	-0.25%
MAR	B	-0.25%
PDD	F	-0.25%
FTNT	C	-0.24%
CEG	D	-0.23%
ORLY	B	-0.23%
DASH	A	-0.22%
ASML	F	-0.21%
COIN	C	-0.21%
ADSK	A	-0.21%
CSX	B	-0.21%
MSTR	C	-0.2%
CHTR	C	-0.19%
ABNB	C	-0.19%
ROP	B	-0.19%
PCAR	B	-0.19%
CPRT	A	-0.18%
NXPI	D	-0.18%
WDAY	B	-0.18%
PAYX	C	-0.17%
FANG	D	-0.17%
MNST	C	-0.17%
TTD	B	-0.17%
FAST	B	-0.16%
AEP	D	-0.16%
NDAQ	A	-0.15%
ROST	C	-0.15%
ODFL	B	-0.15%
EA	A	-0.14%
KDP	D	-0.14%
BKR	B	-0.14%
AXON	A	-0.14%
CTSH	B	-0.13%
EXC	C	-0.13%
DDOG	A	-0.13%
TEAM	A	-0.13%
VRSK	A	-0.13%
ACGL	D	-0.13%
XEL	A	-0.13%
AZN	D	-0.12%
GEHC	F	-0.12%
KHC	F	-0.12%
LULU	C	-0.12%
WTW	B	-0.11%
MCHP	F	-0.11%
CCEP	C	-0.11%
IDXX	F	-0.11%
UAL	A	-0.1%
ON	D	-0.1%
ZS	C	-0.1%
TSCO	D	-0.1%
CSGP	D	-0.1%
DXCM	D	-0.1%
EBAY	D	-0.1%
ALNY	D	-0.1%
TTWO	A	-0.1%
MPWR	F	-0.09%
ANSS	B	-0.09%
FITB	A	-0.09%
GFS	C	-0.08%
CDW	F	-0.08%
WBD	C	-0.08%
TCOM	B	-0.08%
NTAP	C	-0.08%
SBAC	D	-0.08%
BIIB	F	-0.08%
HBAN	A	-0.08%
LPLA	A	-0.08%
TROW	B	-0.08%
HOOD	B	-0.08%
ERIE	D	-0.07%
ZBRA	B	-0.07%
FSLR	F	-0.07%
IBKR	A	-0.07%
STX	D	-0.07%
ZM	B	-0.07%
WDC	D	-0.07%
MDB	C	-0.07%
NTRS	A	-0.07%
PTC	A	-0.07%
EXPE	B	-0.07%
CINF	A	-0.07%
ILMN	D	-0.07%
HOLX	D	-0.06%
SSNC	B	-0.06%
VRSN	F	-0.06%
TRMB	B	-0.06%
ALGN	F	-0.06%
NTNX	A	-0.06%
JD	D	-0.06%
GEN	B	-0.06%
MANH	D	-0.06%
JBHT	C	-0.06%
NTRA	B	-0.06%
TER	D	-0.06%
ARGX	A	-0.06%
GRAB	B	-0.06%
PODD	C	-0.06%
DKNG	B	-0.06%
CHKP	D	-0.06%
PFG	D	-0.06%
NDSN	B	-0.05%
BSY	D	-0.05%
SAIA	B	-0.05%
MRNA	F	-0.05%
ENTG	D	-0.05%
INCY	C	-0.05%
SNY	F	-0.05%
CASY	A	-0.05%
LNT	A	-0.05%
DOCU	A	-0.05%
VTRS	A	-0.05%
MORN	B	-0.05%
AFRM	A	-0.05%
FLEX	A	-0.05%
ICLR	D	-0.05%
SOFI	A	-0.05%
TW	A	-0.05%
ARM	D	-0.05%
ULTA	F	-0.05%
MKTX	D	-0.04%
EXEL	B	-0.04%
SMCI	F	-0.04%
LECO	B	-0.04%
TECH	D	-0.04%
HST	C	-0.04%
NWSA	B	-0.04%
NTES	D	-0.04%
DUOL	A	-0.04%
RPRX	D	-0.04%
AAON	B	-0.04%
JKHY	D	-0.04%
PAA	B	-0.04%
PCTY	B	-0.04%
LBRDK	C	-0.04%
NBIX	C	-0.04%
TXRH	C	-0.04%
RKLB	B	-0.04%
BMRN	D	-0.04%
BIDU	F	-0.04%
LOGI	D	-0.04%
OKTA	C	-0.04%
SWKS	F	-0.04%
MNDY	C	-0.04%
CPB	D	-0.04%
CYBR	B	-0.04%
AKAM	D	-0.04%
POOL	C	-0.04%
DLTR	F	-0.04%
BRKR	D	-0.03%
CZR	F	-0.03%
CVLT	B	-0.03%
CSWI	A	-0.03%
LNW	D	-0.03%
GLBE	B	-0.03%
GTLB	B	-0.03%
OTEX	D	-0.03%
FRHC	B	-0.03%
ENPH	F	-0.03%
PEGA	A	-0.03%
ROIV	C	-0.03%
MTCH	D	-0.03%
HLNE	B	-0.03%
NICE	C	-0.03%
ROKU	D	-0.03%
FOX	A	-0.03%
HQY	B	-0.03%
MASI	A	-0.03%
ITCI	C	-0.03%
WYNN	D	-0.03%
MEDP	D	-0.03%
DOX	D	-0.03%
WING	D	-0.03%
CHDN	B	-0.03%
BGNE	D	-0.03%
EXAS	D	-0.03%
RVMD	C	-0.03%
FUTU	D	-0.03%
PCVX	D	-0.03%
INSM	C	-0.03%
MTSI	B	-0.03%
WWD	B	-0.03%
FOXA	B	-0.03%
BNTX	D	-0.03%
COKE	C	-0.03%
RGLD	C	-0.03%
SRPT	D	-0.03%
WIX	B	-0.03%
ARLP	A	-0.02%
CLBT	B	-0.02%
VERX	B	-0.02%
GSHD	A	-0.02%
WDFC	B	-0.02%
VRRM	D	-0.02%
TBBK	B	-0.02%
GH	B	-0.02%
TGTX	B	-0.02%
FTDR	A	-0.02%
CCOI	B	-0.02%
GLNG	D	-0.02%
QFIN	B	-0.02%
FRSH	C	-0.02%
ALGM	D	-0.02%
IPAR	B	-0.02%
CVCO	A	-0.02%
PI	D	-0.02%
APPF	B	-0.02%
AEIS	B	-0.02%
KRYS	B	-0.02%
KTOS	B	-0.02%
DORM	B	-0.02%
NWS	A	-0.02%
LOPE	B	-0.02%
LI	F	-0.02%
ALKT	B	-0.02%
CHCI	D	-0.02%
BBIO	F	-0.02%
ACLX	C	-0.02%
CRNX	C	-0.02%
VICR	B	-0.02%
LANC	C	-0.02%
LNTH	D	-0.02%
TFSL	A	-0.02%
FIVE	F	-0.02%
AXSM	B	-0.02%
SHC	F	-0.02%
FIZZ	C	-0.02%
CACC	D	-0.02%
BPMC	C	-0.02%
CALM	A	-0.02%
PAYO	A	-0.02%
ALKS	B	-0.02%
IEP	F	-0.02%
WMG	C	-0.02%
ROAD	A	-0.02%
EEFT	B	-0.02%
INTA	A	-0.02%
TIGO	D	-0.02%
LSTR	D	-0.02%
USLM	A	-0.02%
IONS	F	-0.02%
VKTX	F	-0.02%
NCNO	B	-0.02%
PRCT	B	-0.02%
ITRI	B	-0.02%
QLYS	C	-0.02%
CROX	D	-0.02%
EXPO	D	-0.02%
HALO	F	-0.02%
FELE	B	-0.02%
CYTK	F	-0.02%
RMBS	C	-0.02%
VRNS	D	-0.02%
TENB	C	-0.02%
SITM	B	-0.02%
CHX	C	-0.02%
LCID	F	-0.02%
DBX	B	-0.02%
ALTR	B	-0.02%
GNTX	C	-0.02%
CELH	F	-0.02%
ETSY	D	-0.02%
CWST	A	-0.02%
MMSI	B	-0.02%
HTHT	D	-0.02%
WFRD	D	-0.02%
MARA	C	-0.02%
AVAV	D	-0.02%
RDNT	B	-0.02%
QXO	D	-0.02%
LFUS	F	-0.02%
WSC	D	-0.02%
LITE	B	-0.02%
OLLI	D	-0.02%
UPST	B	-0.02%
STRL	B	-0.02%
ACIW	B	-0.02%
CGNX	C	-0.02%
RCM	F	-0.02%
BCPC	B	-0.02%
CORT	B	-0.02%
IESC	B	-0.02%
CFLT	B	-0.02%
RGEN	D	-0.02%
EXLS	B	-0.02%
NOVT	D	-0.02%
ENSG	D	-0.02%
XP	F	-0.02%
CRVL	A	-0.02%
MMYT	B	-0.02%
CRDO	B	-0.02%
FRPT	B	-0.02%
OLED	D	-0.02%
SPSC	C	-0.02%
LSCC	D	-0.02%
ASND	D	-0.02%
COLL	F	-0.01%
SRAD	A	-0.01%
BFST	C	-0.01%
KRUS	B	-0.01%
PGNY	F	-0.01%
LQDA	D	-0.01%
PSNY	F	-0.01%
GRFS	C	-0.01%
IQ	F	-0.01%
CNTA	B	-0.01%
BCYC	F	-0.01%
BLBD	D	-0.01%
GSM	D	-0.01%
CNSL	C	-0.01%
SAVA	D	-0.01%
MOMO	D	-0.01%
EBTC	B	-0.01%
GDEN	B	-0.01%
IMKTA	C	-0.01%
BVS	D	-0.01%
LILAK	D	-0.01%
COGT	D	-0.01%
BCBP	A	-0.01%
CLOV	D	-0.01%
RCKT	F	-0.01%
SDGR	C	-0.01%
TRNS	D	-0.01%
MGPI	F	-0.01%
ARDX	F	-0.01%
PYCR	C	-0.01%
AMRK	F	-0.01%
PLUG	F	-0.01%
ICHR	C	-0.01%
TTGT	C	-0.01%
TRDA	B	-0.01%
STAA	F	-0.01%
ASTL	B	-0.01%
KC	A	-0.01%
HROW	D	-0.01%
NSSC	D	-0.01%
VITL	D	-0.01%
SPRY	D	-0.01%
AOSL	C	-0.01%
THRM	D	-0.01%
IRON	B	-0.01%
TLRY	F	-0.01%
PLAY	D	-0.01%
SCVL	F	-0.01%
NVEE	F	-0.01%
ISTR	B	-0.01%
COHU	C	-0.01%
TH	C	-0.01%
IMCR	C	-0.01%
PLYA	B	-0.01%
FFIC	B	-0.01%
VIR	D	-0.01%
AVAH	B	-0.01%
WASH	C	-0.01%
GLUE	C	-0.01%
PDFS	C	-0.01%
IBUY	A	-0.01%
KURA	F	-0.01%
CLDX	F	-0.01%
ANIP	F	-0.01%
CEVA	B	-0.01%
VECO	F	-0.01%
MLCO	F	-0.01%
HAFC	A	-0.01%
RNW	D	-0.01%
AVO	C	-0.01%
SPT	C	-0.01%
CMCO	B	-0.01%
FWRG	C	-0.01%
TXG	F	-0.01%
VRDN	D	-0.01%
BCRX	D	-0.01%
FLYW	C	-0.01%
DOOO	F	-0.01%
PFC	A	-0.01%
SOUN	C	-0.01%
UCTT	D	-0.01%
TNDM	F	-0.01%
SNDX	F	-0.01%
MRTN	C	-0.01%
SIMO	D	-0.01%
UDMY	F	-0.01%
WB	D	-0.01%
SABR	C	-0.01%
AHCO	F	-0.01%
HLIT	D	-0.01%
LBRDA	C	-0.01%
SPNS	F	-0.01%
INMD	C	-0.01%
PLAB	C	-0.01%
KRNT	C	-0.01%
RDWR	B	-0.01%
TVTX	B	-0.01%
DLO	C	-0.01%
INFN	C	-0.01%
HBNC	B	-0.01%
CRAI	B	-0.01%
ARVN	D	-0.01%
MBUU	C	-0.01%
QNST	B	-0.01%
ACLS	F	-0.01%
IAS	C	-0.01%
MCRI	A	-0.01%
ATEX	D	-0.01%
WINA	B	-0.01%
ENVX	F	-0.01%
IREN	C	-0.01%
PCT	C	-0.01%
TWST	D	-0.01%
NVCR	C	-0.01%
RXST	F	-0.01%
CRTO	C	-0.01%
NEO	C	-0.01%
AMSF	B	-0.01%
PEBO	A	-0.01%
MSEX	B	-0.01%
PFBC	B	-0.01%
TCBK	B	-0.01%
ULH	B	-0.01%
NEXT	B	-0.01%
AKRO	B	-0.01%
GDYN	B	-0.01%
PAGP	A	-0.01%
AXNX	C	-0.01%
AUPH	B	-0.01%
CNXN	C	-0.01%
SBLK	F	-0.01%
DGII	B	-0.01%
HRMY	D	-0.01%
MNKD	C	-0.01%
OCFC	B	-0.01%
MQ	F	-0.01%
ERII	D	-0.01%
RUN	F	-0.01%
CHEF	A	-0.01%
LBPH	A	-0.01%
PTGX	C	-0.01%
AY	B	-0.01%
DVAX	C	-0.01%
TARS	B	-0.01%
BUSE	B	-0.01%
TMDX	F	-0.01%
VSEC	C	-0.01%
IDYA	F	-0.01%
TRMD	F	-0.01%
GTX	D	-0.01%
BEAM	D	-0.01%
GABC	B	-0.01%
LKFN	B	-0.01%
ZLAB	C	-0.01%
INBK	B	-0.01%
JANX	C	-0.01%
HPK	B	-0.01%
RIOT	C	-0.01%
LGIH	D	-0.01%
ULCC	D	-0.01%
GERN	D	-0.01%
KYMR	D	-0.01%
ASTH	D	-0.01%
DIOD	D	-0.01%
MBIN	D	-0.01%
VERA	B	-0.01%
APPN	B	-0.01%
ATAT	C	-0.01%
JAMF	F	-0.01%
EXTR	B	-0.01%
ADUS	D	-0.01%
BILI	D	-0.01%
EVCM	B	-0.01%
CPRX	C	-0.01%
XNCR	B	-0.01%
GDS	C	-0.01%
YY	C	-0.01%
PLUS	F	-0.01%
PRDO	B	-0.01%
ROCK	C	-0.01%
RPD	C	-0.01%
IRTC	D	-0.01%
VBTX	B	-0.01%
SASR	B	-0.01%
XPEL	C	-0.01%
DCOM	A	-0.01%
ALHC	C	-0.01%
PRVA	B	-0.01%
ARWR	F	-0.01%
NNBR	C	-0.01%
SYBT	B	-0.01%
OSW	A	-0.01%
SBCF	A	-0.01%
FLNC	C	-0.01%
AMPH	D	-0.01%
VRNA	B	-0.01%
UFPT	B	-0.01%
WULF	C	-0.01%
CASH	A	-0.01%
MGNI	A	-0.01%
KROS	D	-0.01%
GOGL	F	-0.01%
CIFR	B	-0.01%
IDCC	B	-0.01%
CLSK	C	-0.01%
VCYT	B	-0.01%
OPCH	D	-0.01%
TRUP	B	-0.01%
FORM	D	-0.01%
FIVN	C	-0.01%
STNE	F	-0.01%
EFSC	B	-0.01%
FBNC	A	-0.01%
KLIC	B	-0.01%
SKWD	A	-0.01%
LIVN	F	-0.01%
LMAT	A	-0.01%
ICFI	F	-0.01%
MYRG	B	-0.01%
ALRM	C	-0.01%
APLS	D	-0.01%
MRUS	F	-0.01%
SMTC	B	-0.01%
TFIN	A	-0.01%
CENX	B	-0.01%
PLTK	B	-0.01%
MIRM	B	-0.01%
HCP	B	-0.01%
GGAL	C	-0.01%
FROG	C	-0.01%
EWTX	C	-0.01%
SWTX	C	-0.01%
EXPI	C	-0.01%
BRZE	C	-0.01%
VCEL	B	-0.01%
ERIC	B	-0.01%
MRCY	B	-0.01%
SGRY	F	-0.01%
SRRK	B	-0.01%
PATK	D	-0.01%
ACAD	D	-0.01%
ATRC	C	-0.01%
NARI	C	-0.01%
FOLD	F	-0.01%
PLMR	B	-0.01%
RBCAA	B	-0.01%
NEOG	F	-0.01%
HWKN	B	-0.01%
BL	B	-0.01%
LEGN	F	-0.01%
SLAB	D	-0.01%
VOD	F	-0.01%
POWI	D	-0.01%
CARG	C	-0.01%
WVE	C	-0.01%
IRDM	D	-0.01%
XENE	F	-0.01%
JJSF	B	-0.01%
PTCT	B	-0.01%
NMIH	D	-0.01%
BZ	F	-0.01%
DRVN	B	-0.01%
AMBA	B	-0.01%
LFST	C	-0.01%
ACVA	B	-0.01%
ADMA	B	-0.01%
RYTM	C	-0.01%
DNLI	D	-0.01%
AGIO	C	-0.01%
RARE	D	-0.01%
SMPL	B	-0.01%
SNEX	B	-0.01%
CRSP	D	-0.01%
AGYS	A	-0.01%
POWL	C	-0.01%