VBR vs. SMMV ETF Comparison

Comparison of Vanguard Small-Cap Value ETF - DNQ (VBR) to iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV)

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

$211.20

Average Daily Volume

430,349

Number of Holdings ^*

797

* may have additional holdings in another (foreign) market

SMMV

iShares MSCI USA Small-Cap Min Vol Factor ETF

SMMV Description

iShares Edge MSCI Min Vol USA Small-Cap ETF seeks to track the investment results of an index composed of small-capitalization U.S. equities that, in the aggregate, have lower volatility characteristics relative to the small-capitalization U.S. equity market.

Grade (RS Rating)

Last Trade

$43.55

Average Daily Volume

37,673

Number of Holdings ^*

289

* may have additional holdings in another (foreign) market

Performance

Period	VBR	SMMV
30 Days	5.18%	5.88%
60 Days	6.13%	7.08%
90 Days	7.24%	8.51%
12 Months	32.19%	28.57%

122 Overlapping Holdings

Symbol	Grade	Weight in VBR	Weight in SMMV	Overlap
ACHC	F	0.16%	0.06%	0.06%
ACT	C	0.03%	0.06%	0.03%
ADC	A	0.22%	1.45%	0.22%
ALE	A	0.11%	0.26%	0.11%
AM	A	0.15%	0.36%	0.15%
AMED	F	0.09%	0.56%	0.09%
ARCH	B	0.07%	0.16%	0.07%
ASH	F	0.12%	0.23%	0.12%
ATGE	B	0.08%	0.14%	0.08%
ATR	B	0.31%	1.49%	0.31%
AVA	A	0.09%	0.2%	0.09%
AVT	C	0.14%	0.34%	0.14%
AWR	B	0.09%	0.19%	0.09%
AXS	A	0.17%	1.32%	0.17%
BHE	C	0.04%	0.32%	0.04%
BJ	A	0.32%	0.73%	0.32%
BLKB	B	0.06%	0.14%	0.06%
BRC	D	0.09%	0.63%	0.09%
BTU	B	0.09%	0.05%	0.05%
CACI	D	0.32%	0.81%	0.32%
CGON	F	0.06%	0.05%	0.05%
CHCO	B	0.05%	0.11%	0.05%
CNX	A	0.13%	0.17%	0.13%
CXW	C	0.04%	0.16%	0.04%
DAWN	D	0.01%	0.04%	0.01%
DCI	B	0.26%	0.31%	0.26%
DK	C	0.03%	0.04%	0.03%
DTM	A	0.22%	1.14%	0.22%
EDR	A	0.11%	0.19%	0.11%
EHC	B	0.28%	1.08%	0.28%
EIG	B	0.03%	0.26%	0.03%
EQC	B	0.06%	0.4%	0.06%
ESGR	B	0.11%	0.46%	0.11%
FCN	F	0.24%	0.61%	0.24%
FLO	D	0.13%	0.82%	0.13%
GEO	B	0.05%	0.09%	0.05%
GHC	B	0.08%	0.58%	0.08%
GO	C	0.04%	0.3%	0.04%
GPK	C	0.26%	0.11%	0.11%
HCC	B	0.1%	0.16%	0.1%
HMN	B	0.04%	0.33%	0.04%
HRB	D	0.26%	0.47%	0.26%
HURN	C	0.06%	0.42%	0.06%
IDA	A	0.16%	1.12%	0.16%
INGR	C	0.26%	0.72%	0.26%
INSW	F	0.04%	0.31%	0.04%
INVA	D	0.03%	0.21%	0.03%
JAZZ	B	0.19%	0.42%	0.19%
KBR	F	0.25%	0.42%	0.25%
KELYA	F	0.02%	0.08%	0.02%
LAUR	A	0.06%	0.47%	0.06%
LRN	A	0.05%	0.7%	0.05%
LTC	B	0.05%	0.11%	0.05%
MATX	C	0.14%	0.08%	0.08%
MCY	A	0.05%	0.38%	0.05%
MDU	D	0.15%	0.59%	0.15%
MGEE	B	0.1%	0.46%	0.1%
MGRC	B	0.07%	0.33%	0.07%
MSA	F	0.19%	0.44%	0.19%
MSM	C	0.11%	0.57%	0.11%
MUSA	B	0.26%	1.6%	0.26%
NABL	F	0.01%	0.1%	0.01%
NHC	C	0.05%	0.33%	0.05%
NJR	A	0.13%	0.24%	0.13%
NSIT	F	0.2%	0.3%	0.2%
NTCT	C	0.04%	0.18%	0.04%
NWE	B	0.1%	0.64%	0.1%
NYT	D	0.25%	0.4%	0.25%
OGE	A	0.24%	1.16%	0.24%
OGS	A	0.12%	0.14%	0.12%
OHI	C	0.3%	0.6%	0.3%
ORI	A	0.24%	1.57%	0.24%
OSIS	A	0.07%	0.07%	0.07%
PBF	D	0.08%	0.06%	0.06%
PBH	A	0.1%	0.77%	0.1%
PDCO	F	0.05%	0.3%	0.05%
PINC	B	0.06%	0.51%	0.06%
PLXS	B	0.11%	0.11%	0.11%
PNW	A	0.29%	0.91%	0.29%
POR	C	0.14%	0.49%	0.14%
POST	C	0.08%	0.77%	0.08%
PPC	C	0.05%	0.24%	0.05%
PRGO	C	0.1%	0.15%	0.1%
PRGS	A	0.08%	0.51%	0.08%
PSN	D	0.14%	0.87%	0.14%
REYN	D	0.05%	0.33%	0.05%
RGA	A	0.41%	1.11%	0.41%
RGR	F	0.02%	0.13%	0.02%
RLI	A	0.19%	1.25%	0.19%
RMR	F	0.01%	0.05%	0.01%
RNR	C	0.41%	0.93%	0.41%
SAFT	B	0.03%	0.24%	0.03%
SAIC	F	0.21%	0.25%	0.21%
SCHL	F	0.02%	0.05%	0.02%
SCI	B	0.31%	0.25%	0.25%
SEB	F	0.02%	0.05%	0.02%
SFM	A	0.32%	1.07%	0.32%
SIGI	C	0.16%	1.14%	0.16%
SLGN	A	0.12%	0.14%	0.12%
SNDR	B	0.03%	0.32%	0.03%
SNX	D	0.22%	0.31%	0.22%
SON	F	0.15%	0.43%	0.15%
SPNT	B	0.04%	0.17%	0.04%
SR	A	0.11%	0.07%	0.07%
STRA	C	0.06%	0.08%	0.06%
SWBI	C	0.01%	0.04%	0.01%
SWX	B	0.13%	0.18%	0.13%
TGNA	B	0.08%	0.5%	0.08%
THG	A	0.14%	1.11%	0.14%
THS	D	0.06%	0.07%	0.06%
UNF	B	0.09%	0.33%	0.09%
UNM	A	0.25%	1.16%	0.25%
USM	B	0.03%	0.11%	0.03%
VIRT	A	0.07%	0.5%	0.07%
VREX	B	0.01%	0.11%	0.01%
VVV	D	0.16%	0.27%	0.16%
WABC	B	0.04%	0.22%	0.04%
WEN	D	0.09%	0.6%	0.09%
WERN	C	0.07%	0.45%	0.07%
WMK	C	0.03%	0.16%	0.03%
WT	A	0.04%	0.28%	0.04%
WTM	A	0.12%	0.93%	0.12%

VBR Overweight 675 Positions Relative to SMMV

Symbol	Grade	Weight
SW	A	0.74%
BLDR	D	0.65%
BAH	F	0.61%
CSL	C	0.6%
ATO	A	0.58%
EME	A	0.58%
FCNCA	A	0.57%
NRG	B	0.54%
PNR	A	0.47%
IEX	C	0.47%
TOL	B	0.46%
RS	B	0.46%
THC	D	0.46%
UTHR	C	0.46%
WSM	C	0.45%
RPM	A	0.45%
KIM	A	0.45%
OC	A	0.44%
USFD	A	0.43%
AES	F	0.41%
ACM	B	0.4%
GLPI	C	0.39%
EQH	C	0.39%
BG	D	0.39%
EMN	C	0.38%
REG	A	0.38%
CPT	B	0.38%
ALLE	C	0.37%
JLL	D	0.37%
JNPR	D	0.37%
FFIV	B	0.37%
JBL	C	0.37%
UHS	D	0.37%
TTEK	F	0.36%
KMX	B	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	D	0.34%
BXP	C	0.33%
EWBC	A	0.33%
HUBB	B	0.33%
CCK	D	0.33%
LDOS	C	0.32%
RRX	B	0.32%
FBIN	D	0.32%
EPAM	B	0.31%
TPR	B	0.31%
AIZ	A	0.3%
HII	F	0.3%
LKQ	F	0.3%
AA	A	0.29%
TAP	C	0.29%
CG	B	0.29%
OVV	B	0.29%
AFG	A	0.29%
ARMK	B	0.29%
HAS	D	0.28%
FRT	B	0.28%
SOLV	D	0.28%
ALLY	C	0.28%
QRVO	F	0.28%
Z	A	0.28%
EVR	B	0.27%
HSIC	C	0.27%
STLD	B	0.27%
WTRG	B	0.27%
GL	C	0.27%
JEF	A	0.26%
NNN	C	0.26%
PRI	B	0.26%
WAL	B	0.26%
APA	D	0.26%
EGP	D	0.26%
SF	B	0.26%
MOS	F	0.25%
AIT	B	0.25%
MHK	D	0.25%
GME	C	0.25%
FYBR	C	0.25%
APG	B	0.24%
FLR	B	0.24%
AGNC	C	0.24%
FMC	D	0.24%
WCC	B	0.24%
BWA	D	0.24%
DKS	D	0.24%
KNX	C	0.24%
FHN	A	0.24%
ALSN	B	0.24%
BRX	A	0.24%
MLI	B	0.24%
AYI	B	0.24%
LAD	A	0.24%
SWN	C	0.23%
AXTA	B	0.23%
CMA	B	0.23%
WBS	A	0.23%
DOC	C	0.23%
CHRD	D	0.23%
SEIC	B	0.23%
MIDD	C	0.22%
IVZ	B	0.22%
UFPI	C	0.22%
CR	A	0.22%
VFC	C	0.22%
NI	A	0.22%
VOYA	B	0.22%
STAG	D	0.21%
VNO	C	0.21%
ANF	F	0.21%
X	B	0.21%
WTFC	A	0.21%
LUMN	C	0.21%
DINO	D	0.21%
BPOP	C	0.21%
ELAN	D	0.21%
MKSI	C	0.21%
AAL	B	0.21%
RL	C	0.21%
BERY	C	0.21%
FR	D	0.21%
SSB	B	0.21%
MTH	D	0.21%
FLS	B	0.2%
LPX	B	0.2%
COHR	B	0.2%
JXN	C	0.2%
DVA	C	0.2%
CBSH	B	0.2%
TMHC	C	0.2%
ZION	B	0.2%
G	B	0.2%
UHAL	D	0.2%
BBWI	C	0.2%
ARW	D	0.2%
RRC	B	0.2%
KEX	B	0.2%
CFR	B	0.19%
FAF	A	0.19%
STWD	C	0.19%
MAT	D	0.19%
BIO	C	0.19%
ESNT	F	0.19%
PB	B	0.19%
OSK	C	0.19%
CRUS	D	0.19%
MTG	C	0.19%
RHI	C	0.19%
EVRG	A	0.19%
SNV	C	0.18%
ESAB	C	0.18%
CBT	D	0.18%
LEA	F	0.18%
AGCO	D	0.18%
CMC	B	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%
ONB	C	0.17%
CLF	F	0.17%
R	B	0.17%
AN	C	0.17%
ST	F	0.16%
COLB	B	0.16%
KBH	D	0.16%
XRAY	F	0.16%
BCC	B	0.16%
AUR	C	0.16%
NFG	A	0.16%
BC	C	0.16%
THO	B	0.16%
ALB	B	0.16%
PVH	C	0.16%
OLN	F	0.16%
OMF	A	0.16%
PARA	C	0.16%
COOP	B	0.16%
SRCL	B	0.16%
WTS	B	0.16%
ALK	B	0.16%
AMG	B	0.15%
KNF	B	0.15%
NXST	C	0.15%
FNB	A	0.15%
GBCI	B	0.15%
VNT	C	0.15%
SIRI	C	0.15%
RDN	D	0.15%
KD	B	0.15%
TKR	D	0.15%
BECN	B	0.15%
LNC	C	0.15%
UGI	C	0.15%
GAP	C	0.15%
TPG	A	0.14%
GATX	A	0.14%
CPRI	F	0.14%
ABG	C	0.14%
RIVN	F	0.14%
PIPR	A	0.14%
BDC	C	0.14%
RYN	D	0.14%
SUM	B	0.14%
MUR	D	0.14%
BCO	F	0.14%
JHG	B	0.14%
HOMB	A	0.14%
GPI	B	0.14%
ZWS	B	0.14%
OGN	F	0.14%
SLM	A	0.14%
UBSI	B	0.14%
LYFT	C	0.13%
UMBF	B	0.13%
ITGR	B	0.13%
SBRA	C	0.13%
SIG	B	0.13%
NUVL	C	0.13%
PII	F	0.13%
HWC	B	0.13%
MGM	D	0.13%
CUZ	B	0.13%
FFIN	B	0.13%
NCLH	B	0.13%
SLG	B	0.13%
AL	B	0.13%
KRC	B	0.13%
KTB	B	0.13%
HOG	D	0.13%
AVNT	B	0.13%
ACA	A	0.13%
OZK	B	0.13%
HASI	D	0.12%
TPH	D	0.12%
WU	F	0.12%
ABCB	B	0.12%
ENS	F	0.12%
M	F	0.12%
GTES	A	0.12%
ASO	F	0.12%
ICUI	D	0.12%
SEE	C	0.12%
CRC	A	0.12%
AR	B	0.12%
BKH	A	0.12%
PR	B	0.12%
FUL	F	0.12%
NHI	D	0.11%
SMG	C	0.11%
EPR	C	0.11%
KMPR	A	0.11%
DXC	B	0.11%
DNB	B	0.11%
IAC	F	0.11%
MTZ	B	0.11%
MDGL	B	0.11%
VLY	B	0.11%
KFY	B	0.11%
MAC	B	0.11%
PNM	B	0.11%
AEO	F	0.11%
ASGN	F	0.11%
AGO	B	0.11%
HUN	F	0.11%
HL	D	0.11%
TCBI	C	0.1%
RUSHA	C	0.1%
ABM	B	0.1%
ESE	B	0.1%
IBOC	B	0.1%
TEX	F	0.1%
AUB	B	0.1%
AMKR	D	0.1%
NVST	B	0.1%
AX	B	0.1%
SXT	C	0.1%
NPO	A	0.1%
CDP	C	0.1%
GVA	A	0.1%
UCB	A	0.1%
FBP	C	0.1%
MAN	F	0.1%
MPW	F	0.1%
CNO	B	0.1%
HIW	C	0.1%
SANM	B	0.1%
PCH	F	0.1%
GMS	B	0.1%
BNL	D	0.1%
PNFP	B	0.1%
SEM	B	0.1%
SKT	A	0.1%
WD	D	0.1%
GNW	A	0.09%
SATS	D	0.09%
FHB	B	0.09%
PRIM	A	0.09%
ALIT	C	0.09%
NSP	F	0.09%
PTEN	C	0.09%
WSFS	B	0.09%
APAM	B	0.09%
CC	C	0.09%
NWL	C	0.09%
ATKR	D	0.09%
CBU	B	0.09%
TNL	A	0.09%
SYNA	C	0.09%
ASB	B	0.09%
COMP	B	0.09%
WBA	F	0.09%
GFF	A	0.09%
CWK	C	0.09%
BEN	C	0.09%
EBC	B	0.09%
APLE	B	0.09%
SKYW	C	0.09%
AROC	A	0.09%
PAG	B	0.09%
COTY	F	0.09%
EAT	A	0.09%
OTTR	C	0.09%
BGC	C	0.09%
FULT	A	0.09%
HUBG	A	0.08%
URBN	C	0.08%
BKU	A	0.08%
CXT	C	0.08%
DY	D	0.08%
BHF	C	0.08%
AIN	C	0.08%
ABR	C	0.08%
ADTN	A	0.08%
PK	C	0.08%
REZI	A	0.08%
LXP	D	0.08%
IOSP	C	0.08%
WAFD	B	0.08%
CNXC	F	0.08%
TRN	B	0.08%
PENN	C	0.08%
WLK	D	0.08%
TDC	D	0.08%
PFSI	C	0.08%
DEI	B	0.08%
CATY	B	0.08%
JWN	D	0.08%
FHI	B	0.08%
ENR	B	0.07%
SM	B	0.07%
FFBC	B	0.07%
PFS	B	0.07%
PECO	A	0.07%
HAYW	B	0.07%
VAC	C	0.07%
MTRN	C	0.07%
AAP	D	0.07%
AZZ	A	0.07%
BOKF	B	0.07%
VSH	F	0.07%
BFH	C	0.07%
CVBF	A	0.07%
SMMT	D	0.07%
INDB	B	0.07%
ENOV	C	0.07%
HNI	B	0.07%
PPBI	C	0.07%
PRK	B	0.07%
FL	F	0.07%
DBRG	F	0.07%
HBI	B	0.07%
RNG	C	0.07%
AKR	B	0.07%
CDE	C	0.07%
MTX	B	0.07%
BOH	B	0.07%
GT	C	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	C	0.07%
OUT	A	0.07%
BXMT	C	0.07%
UE	B	0.07%
PHIN	A	0.06%
BANF	B	0.06%
RXO	D	0.06%
GNL	F	0.06%
PRG	C	0.06%
HI	C	0.06%
VSTS	C	0.06%
NMRK	C	0.06%
RNST	B	0.06%
INFA	D	0.06%
WLY	B	0.06%
IPGP	D	0.06%
VYX	B	0.06%
SFBS	C	0.06%
JOBY	B	0.06%
NBTB	B	0.06%
VGR	B	0.06%
VIAV	C	0.06%
OMCL	C	0.06%
VSCO	C	0.06%
KMT	B	0.06%
IBTX	B	0.06%
OI	C	0.06%
IVT	A	0.06%
BANR	B	0.06%
NATL	B	0.06%
FRME	B	0.06%
BYD	B	0.06%
OFG	B	0.06%
TDS	B	0.06%
SHO	D	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%
CRI	F	0.06%
MHO	D	0.06%
MIR	A	0.06%
PSMT	D	0.06%
AZTA	D	0.06%
VRNT	C	0.05%
CABO	B	0.05%
UPBD	B	0.05%
HLIO	B	0.05%
HE	C	0.05%
NBHC	C	0.05%
CENTA	C	0.05%
AMN	F	0.05%
CRGY	B	0.05%
ANDE	D	0.05%
SUPN	C	0.05%
STEP	C	0.05%
DDS	B	0.05%
SCL	C	0.05%
FCF	B	0.05%
NPAB	F	0.05%
WSBC	B	0.05%
UAA	C	0.05%
SHOO	F	0.05%
NWBI	B	0.05%
DRH	B	0.05%
MLKN	F	0.05%
TROX	D	0.05%
WKC	C	0.05%
LEG	F	0.05%
LGND	C	0.05%
TRMK	C	0.05%
PZZA	F	0.05%
TTMI	C	0.05%
GOLF	B	0.05%
FTRE	D	0.05%
EPC	F	0.05%
LZB	B	0.05%
KAR	B	0.05%
B	A	0.05%
CAKE	C	0.05%
IMVT	F	0.05%
ROIC	A	0.05%
PBI	B	0.04%
AIV	C	0.04%
AAT	B	0.04%
PMT	C	0.04%
UVV	B	0.04%
WOR	F	0.04%
PDM	D	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%
VC	F	0.04%
LADR	B	0.04%
VCTR	B	0.04%
WWW	A	0.04%
BKE	B	0.04%
COLM	C	0.04%
HP	C	0.04%
VSAT	F	0.04%
CSGS	B	0.04%
DNOW	B	0.04%
DAN	D	0.04%
RRR	F	0.04%
REVG	C	0.04%
SBH	C	0.04%
ALEX	B	0.04%
VRE	B	0.04%
BLMN	F	0.04%
CAR	C	0.04%
VRTS	B	0.04%
HELE	C	0.04%
NGVT	B	0.04%
CODI	B	0.04%
HOPE	C	0.04%
ESRT	C	0.04%
LCII	C	0.04%
HTH	C	0.04%
GBX	A	0.04%
HEES	C	0.04%
JBGS	F	0.04%
KN	B	0.04%
STBA	B	0.04%
CNK	C	0.04%
DYN	F	0.04%
GEF	A	0.04%
APOG	C	0.04%
ELME	D	0.04%
GTY	A	0.04%
NWN	A	0.04%
MATV	D	0.03%
SMR	B	0.03%
CMTG	F	0.03%
JACK	C	0.03%
BDN	C	0.03%
BV	C	0.03%
LGF.A	C	0.03%
DNUT	F	0.03%
MMI	C	0.03%
ODP	F	0.03%
UNFI	A	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	C	0.03%
ATSG	B	0.03%
RWT	D	0.03%
VSTO	A	0.03%
LEVI	F	0.03%
MRC	B	0.03%
HTLF	B	0.03%
SCSC	C	0.03%
CARS	C	0.03%
UA	C	0.03%
ECPG	C	0.03%
FBRT	D	0.03%
CNNE	B	0.03%
CSR	B	0.03%
ETWO	F	0.03%
AVNS	F	0.03%
KALU	C	0.03%
WS	C	0.03%
KFRC	D	0.03%
KWR	C	0.03%
FDP	B	0.03%
SCS	C	0.03%
XRX	F	0.03%
OMI	F	0.03%
BHLB	B	0.03%
AMRX	C	0.03%
GIII	D	0.03%
MYGN	F	0.03%
NAVI	F	0.03%
MSGE	F	0.03%
IART	C	0.03%
LC	A	0.03%
TILE	B	0.02%
HTLD	C	0.02%
ATUS	B	0.02%
MXL	C	0.02%
CAL	F	0.02%
FOR	F	0.02%
GES	F	0.02%
BMBL	C	0.02%
BASE	B	0.02%
CMPR	D	0.02%
HY	D	0.02%
CFFN	C	0.02%
PCRX	C	0.02%
SWI	C	0.02%
TMP	B	0.02%
BGS	F	0.02%
MATW	C	0.02%
HPP	F	0.02%
PUMP	C	0.02%
UHAL	D	0.02%
HLF	C	0.02%
AXL	C	0.02%
KOP	C	0.02%
ECVT	C	0.02%
AMWD	C	0.02%
KREF	C	0.02%
ASTE	C	0.02%
BRSP	C	0.02%
PRLB	B	0.02%
XHR	B	0.02%
SVC	F	0.02%
MODG	F	0.02%
PRA	C	0.02%
SAH	C	0.02%
HAIN	D	0.02%
WNC	C	0.02%
CVI	F	0.02%
EMBC	C	0.02%
HCSG	C	0.02%
MNRO	D	0.02%
PRAA	D	0.02%
FG	A	0.02%
BRKL	B	0.02%
EYE	C	0.02%
DLX	B	0.02%
RBRK	A	0.02%
NUS	D	0.01%
LDI	C	0.01%
BRCC	F	0.01%
OPK	C	0.01%
TWKS	B	0.01%
DJT	C	0.01%
DIN	C	0.01%
OLPX	D	0.01%
CENT	C	0.01%
TGI	B	0.01%
ALX	D	0.01%
CMP	C	0.01%
AMBC	C	0.01%
TRTX	C	0.01%
KRO	C	0.01%
SRCL	B	0.01%
ZIP	D	0.01%
NAPA	A	0.01%
CNDT	C	0.01%
CRCT	F	0.01%
WOOF	D	0.01%
EGBN	B	0.01%
RUSHB	C	0.01%
WRLD	C	0.01%
HTZ	C	0.01%
INN	D	0.01%
VMEO	B	0.01%
BJRI	C	0.01%
EE	A	0.01%
GRC	A	0.01%
PTVE	B	0.01%
NVRI	D	0.01%
FWRD	D	0.01%
USNA	C	0.01%
CLB	B	0.01%
SSTK	F	0.01%
CLBK	C	0.01%
CCO	C	0.01%
ARRY	F	0.01%
GCMG	B	0.01%
LGF.A	C	0.01%
CWH	B	0.01%
BFS	C	0.01%
PWSC	C	0.0%
SCWX	C	0.0%
AC	B	0.0%
AMCX	C	0.0%
TASK	C	0.0%
ACDC	B	0.0%
LESL	D	0.0%
GEF	A	0.0%

VBR Underweight 167 Positions Relative to SMMV

Symbol	Grade	Weight
EXEL	B	-1.73%
RGLD	C	-1.39%
CHE	D	-1.32%
HQY	A	-1.23%
CVLT	B	-1.12%
ENSG	C	-1.06%
GNTX	C	-0.9%
LSTR	D	-0.81%
DLB	B	-0.81%
CASY	A	-0.79%
BWXT	B	-0.78%
TXNM	A	-0.75%
NEU	D	-0.75%
CALM	A	-0.72%
ALKS	C	-0.71%
CW	C	-0.71%
LOPE	C	-0.69%
RYAN	A	-0.69%
PAGP	A	-0.68%
TKO	A	-0.66%
CCOI	B	-0.66%
CTRE	C	-0.65%
MSGS	A	-0.64%
TXRH	B	-0.62%
VNOM	A	-0.59%
CCCS	B	-0.59%
INSM	C	-0.58%
IBKR	A	-0.54%
HESM	B	-0.54%
FCFS	F	-0.49%
CWAN	B	-0.48%
DRS	B	-0.47%
JJSF	C	-0.47%
PCVX	D	-0.47%
ECG	C	-0.46%
IONS	F	-0.45%
CSWI	B	-0.45%
KNTK	A	-0.42%
HLI	A	-0.38%
ADUS	D	-0.37%
CWST	A	-0.35%
PRDO	B	-0.35%
XENE	D	-0.34%
BATRK	D	-0.34%
AGX	B	-0.33%
AVPT	A	-0.33%
VRRM	F	-0.32%
SKWD	A	-0.32%
LANC	C	-0.32%
SMPL	B	-0.31%
IDCC	B	-0.31%
CORT	B	-0.3%
USLM	A	-0.3%
GPOR	B	-0.3%
DVAX	C	-0.29%
DBX	B	-0.28%
MIRM	B	-0.28%
HWKN	B	-0.28%
CRNX	C	-0.27%
CRAI	C	-0.25%
YELP	C	-0.25%
OSW	B	-0.25%
IDYA	F	-0.24%
OLLI	D	-0.24%
MMS	F	-0.23%
ADMA	B	-0.21%
AMSF	B	-0.21%
NTST	C	-0.2%
PJT	A	-0.2%
OPCH	D	-0.19%
IMKTA	C	-0.19%
CHH	A	-0.19%
BFC	B	-0.18%
RARE	F	-0.18%
ATEN	A	-0.18%
COLL	F	-0.18%
KRP	B	-0.18%
CNXN	C	-0.16%
KNSA	F	-0.16%
CWT	C	-0.16%
CIEN	C	-0.15%
ICFI	F	-0.15%
IRON	B	-0.15%
IDT	B	-0.15%
DJCO	B	-0.14%
VVX	C	-0.14%
JBSS	F	-0.14%
HCKT	B	-0.14%
HSTM	B	-0.14%
GTX	C	-0.13%
REX	D	-0.13%
LBTYK	A	-0.13%
KRYS	C	-0.13%
ZYME	C	-0.13%
LMAT	A	-0.12%
UVE	B	-0.12%
HALO	F	-0.12%
SPTN	D	-0.12%
SMP	C	-0.12%
LQDT	B	-0.11%
ACLX	C	-0.11%
NTNX	B	-0.11%
SHEN	F	-0.11%
SNRE	D	-0.1%
MCS	B	-0.1%
AGIO	C	-0.1%
ALRM	C	-0.1%
DHIL	B	-0.1%
ACEL	C	-0.1%
EBF	F	-0.1%
UFCS	A	-0.1%
TIPT	C	-0.09%
CRVL	B	-0.09%
GWRE	A	-0.09%
HCI	C	-0.09%
EPAC	C	-0.09%
YORW	F	-0.09%
SPRY	C	-0.09%
IRWD	F	-0.09%
FC	F	-0.08%
DORM	B	-0.08%
EWTX	C	-0.08%
ANIP	F	-0.08%
NPK	B	-0.08%
TARS	C	-0.08%
ITCI	C	-0.08%
VITL	D	-0.08%
BBSI	B	-0.08%
NTGR	B	-0.08%
FRPH	B	-0.08%
CEIX	A	-0.08%
IMAX	B	-0.07%
BOX	B	-0.07%
CNSL	C	-0.07%
SENEA	A	-0.07%
TBPH	B	-0.07%
LQDA	F	-0.07%
ATEX	F	-0.07%
WINA	C	-0.07%
CPK	A	-0.07%
NRC	F	-0.06%
IMXI	B	-0.06%
COKE	C	-0.06%
CART	C	-0.06%
CLW	F	-0.06%
HG	C	-0.06%
RAMP	B	-0.06%
UTI	B	-0.06%
CCRN	F	-0.06%
IRMD	C	-0.05%
ADEA	C	-0.05%
IMNM	F	-0.05%
METC	C	-0.05%
ACAD	C	-0.05%
UTZ	D	-0.05%
AESI	B	-0.05%
KROS	D	-0.05%
USPH	B	-0.05%
BATRA	F	-0.05%
GNK	D	-0.04%
TH	C	-0.04%
CGEM	F	-0.03%
MITK	C	-0.03%
ROG	D	-0.03%
ANAB	F	-0.03%
CRGX	F	-0.03%
ITOS	F	-0.02%