VBR vs. TXS ETF Comparison

Comparison of Vanguard Small-Cap Value ETF - DNQ (VBR) to Texas Capital Texas Equity Index ETF (TXS)

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

$214.02

Average Daily Volume

435,439

Number of Holdings ^*

794

* may have additional holdings in another (foreign) market

TXS

Texas Capital Texas Equity Index ETF

TXS Description

TXS tracks an index composed of companies that have significant contributions to the economy of Texas. The fund adviser believes that companies headquartered in Texas enjoy certain economic, regulatory, taxation, workforce and other benefits relative to companies headquartered in other states. Initially, all eligible securities from the investable equity universe that meet certain size and liquidity requirements are selected as index constituents. Component sectors in the index are weighted based on their industry contributions to Texass GDP, as reported for the private sector by the US Bureau of Economic Analysis. Companies within each sector are then weighted based on their market-cap, with a minimum cap of 0.05% and maximum cap of 10% per constituent. The fund does not limit its investment to a certain market-cap bracket. TXS may concentrate its investment in a particular industry or group of industries to the extent that the index is concentrated.

Grade (RS Rating)

Last Trade

$34.84

Average Daily Volume

2,919

Number of Holdings ^*

197

* may have additional holdings in another (foreign) market

Performance

Period	VBR	TXS
30 Days	7.07%	12.19%
60 Days	7.22%	11.01%
90 Days	8.68%	14.42%
12 Months	33.95%	43.77%

67 Overlapping Holdings

Symbol	Grade	Weight in VBR	Weight in TXS	Overlap
AAL	B	0.26%	0.33%	0.26%
ACA	A	0.13%	0.07%	0.07%
ACM	A	0.42%	0.78%	0.42%
AMN	F	0.04%	0.03%	0.03%
APA	D	0.26%	0.12%	0.12%
AROC	B	0.09%	0.05%	0.05%
ASO	F	0.11%	0.95%	0.11%
ATO	A	0.58%	0.39%	0.39%
AZZ	B	0.06%	0.05%	0.05%
BLDR	D	0.58%	0.13%	0.13%
BMBL	C	0.02%	0.06%	0.02%
CFR	B	0.21%	0.27%	0.21%
CHRD	D	0.23%	0.12%	0.12%
CMA	A	0.25%	0.3%	0.25%
CMC	B	0.18%	0.05%	0.05%
CNK	B	0.05%	0.05%	0.05%
COOP	B	0.16%	0.2%	0.16%
CPT	B	0.36%	0.81%	0.36%
CRGY	B	0.05%	0.06%	0.05%
CRUS	D	0.17%	0.03%	0.03%
CVI	F	0.02%	0.04%	0.02%
DINO	D	0.18%	0.05%	0.05%
DNOW	B	0.04%	0.08%	0.04%
EAT	A	0.13%	0.91%	0.13%
EE	A	0.01%	0.07%	0.01%
ETWO	F	0.02%	0.03%	0.02%
FFIN	B	0.13%	0.14%	0.13%
FLR	B	0.26%	0.48%	0.26%
FLS	B	0.2%	0.06%	0.06%
FOR	F	0.02%	0.04%	0.02%
FYBR	D	0.26%	0.07%	0.07%
GL	B	0.28%	0.31%	0.28%
GME	C	0.25%	2.92%	0.25%
GPI	A	0.14%	1.58%	0.14%
HTH	B	0.04%	0.05%	0.04%
HUN	F	0.11%	0.04%	0.04%
IBOC	A	0.1%	0.12%	0.1%
IBTX	B	0.06%	0.07%	0.06%
INN	D	0.01%	0.05%	0.01%
ITGR	B	0.12%	0.05%	0.05%
KBR	F	0.26%	0.42%	0.26%
KEX	C	0.19%	0.26%	0.19%
MRC	B	0.03%	0.06%	0.03%
MUR	D	0.13%	0.07%	0.07%
NRG	B	0.55%	0.31%	0.31%
NSP	D	0.08%	0.14%	0.08%
NX	C	0.04%	0.05%	0.04%
NXST	C	0.16%	0.05%	0.05%
OMCL	C	0.07%	0.11%	0.07%
PB	A	0.19%	0.24%	0.19%
PR	B	0.13%	0.14%	0.13%
PRIM	A	0.09%	0.16%	0.09%
PTEN	C	0.09%	0.05%	0.05%
PUMP	B	0.02%	0.05%	0.02%
RRC	B	0.2%	0.12%	0.12%
RUSHA	C	0.1%	1.23%	0.1%
SBH	C	0.04%	0.4%	0.04%
SCI	B	0.33%	1.85%	0.33%
SWI	B	0.02%	0.05%	0.02%
TASK	C	0.0%	0.05%	0.0%
THC	D	0.43%	4.2%	0.43%
THR	B	0.03%	0.05%	0.03%
TPG	A	0.16%	0.19%	0.16%
TRN	C	0.08%	0.05%	0.05%
UPBD	B	0.04%	0.05%	0.04%
VCTR	B	0.04%	0.09%	0.04%
WLK	D	0.07%	0.04%	0.04%

VBR Overweight 727 Positions Relative to TXS

Symbol	Grade	Weight
SW	A	0.78%
BAH	F	0.69%
EME	C	0.61%
FCNCA	A	0.61%
CSL	C	0.57%
UTHR	C	0.49%
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%
EQH	B	0.42%
RGA	A	0.41%
FFIV	B	0.4%
RNR	C	0.4%
JBL	B	0.39%
WSM	B	0.39%
EWBC	A	0.39%
SFM	A	0.38%
JLL	D	0.38%
REG	B	0.38%
GLPI	C	0.38%
TTEK	F	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%
NVT	B	0.36%
BG	F	0.35%
SJM	D	0.34%
CHRW	C	0.34%
UHS	D	0.34%
CG	A	0.34%
AES	F	0.34%
ATR	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%
WTRG	B	0.28%
UNM	A	0.28%
STLD	B	0.28%
ALLY	C	0.28%
EVR	B	0.28%
LKQ	D	0.28%
AFG	A	0.28%
JEF	A	0.27%
Z	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%
SEIC	B	0.26%
DTM	B	0.26%
DCI	B	0.26%
WBS	A	0.26%
AIT	A	0.26%
LAD	A	0.26%
HSIC	B	0.26%
MUSA	A	0.26%
APG	B	0.25%
GPK	C	0.25%
MOS	F	0.25%
INGR	B	0.25%
NYT	C	0.25%
HAS	D	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%
WTFC	A	0.23%
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%
SAIC	F	0.22%
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%
ZION	B	0.22%
ESAB	B	0.21%
UFPI	B	0.21%
COHR	B	0.21%
MHK	D	0.21%
XPO	B	0.21%
CBSH	A	0.21%
HII	D	0.21%
AGNC	D	0.21%
MKSI	C	0.2%
ANF	C	0.2%
RHI	B	0.2%
QRVO	F	0.2%
RLI	B	0.2%
TMHC	B	0.2%
STAG	F	0.2%
G	B	0.2%
SNV	B	0.2%
MAT	D	0.2%
BIO	D	0.2%
FR	C	0.2%
MIDD	C	0.2%
FCN	D	0.2%
AGCO	D	0.19%
BPOP	B	0.19%
JAZZ	B	0.19%
MTG	C	0.19%
LUMN	C	0.19%
MTH	D	0.19%
EVRG	A	0.19%
UHAL	D	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%
ONB	B	0.18%
MSA	D	0.18%
BBWI	D	0.18%
ELAN	D	0.18%
LPX	B	0.18%
STWD	C	0.18%
FAF	A	0.18%
ARW	D	0.18%
VMI	B	0.18%
WHR	B	0.17%
BECN	B	0.17%
VNT	B	0.17%
NSIT	F	0.17%
SRCL	C	0.17%
ACI	C	0.17%
LAMR	D	0.17%
PARA	C	0.17%
SUM	B	0.17%
SIRI	C	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%
COLB	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%
SIGI	C	0.16%
NFG	A	0.16%
ALB	C	0.16%
NCLH	B	0.16%
MDU	D	0.16%
KBH	D	0.15%
GAP	C	0.15%
UBSI	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%
BDC	B	0.14%
RYN	D	0.14%
CUZ	B	0.14%
XRAY	F	0.14%
OZK	B	0.14%
KRC	C	0.14%
KTB	B	0.14%
PIPR	B	0.14%
AVT	C	0.14%
MDGL	B	0.14%
SLM	A	0.14%
THG	A	0.14%
OLN	D	0.14%
OGN	D	0.14%
AM	A	0.14%
AUR	C	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%
RIVN	F	0.13%
BCO	D	0.13%
WTM	A	0.13%
LYFT	C	0.13%
AL	B	0.13%
SWX	B	0.13%
HWC	B	0.13%
SBRA	C	0.13%
UMBF	B	0.13%
NJR	A	0.13%
ABG	B	0.13%
GTES	A	0.13%
DNB	B	0.12%
ICUI	D	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%
VLY	B	0.12%
BKH	A	0.12%
SLGN	A	0.12%
AGO	B	0.12%
CRC	B	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%
SKYW	B	0.11%
CDP	C	0.11%
SKT	B	0.11%
WU	D	0.11%
SANM	B	0.11%
PBH	A	0.11%
AX	A	0.11%
GVA	A	0.11%
ESGR	B	0.11%
KFY	B	0.11%
ALE	A	0.11%
PII	D	0.11%
SMG	D	0.11%
ACHC	F	0.11%
NUVL	D	0.11%
HOG	D	0.11%
KMPR	B	0.11%
AR	B	0.11%
PNFP	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%
PLXS	B	0.11%
PNM	F	0.11%
BEN	C	0.1%
WBA	F	0.1%
MGEE	C	0.1%
NWE	B	0.1%
PCH	D	0.1%
OTTR	C	0.1%
TEX	D	0.1%
FULT	A	0.1%
WEN	D	0.1%
HCC	B	0.1%
BNL	D	0.1%
ABM	B	0.1%
SEM	B	0.1%
BGC	C	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%
IAC	D	0.1%
NWL	B	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%
TCBI	B	0.1%
DXC	B	0.1%
GNW	A	0.09%
WSFS	A	0.09%
AVA	A	0.09%
JWN	C	0.09%
BRC	D	0.09%
DEI	B	0.09%
MAN	D	0.09%
SATS	D	0.09%
MIR	A	0.09%
PENN	C	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%
AMED	F	0.09%
CWK	B	0.09%
BTU	B	0.09%
CATY	B	0.09%
FBP	B	0.09%
FHB	A	0.09%
TNL	A	0.09%
EBC	B	0.09%
SXT	B	0.09%
APLE	B	0.09%
COMP	B	0.09%
CBU	B	0.09%
FHI	A	0.09%
ESE	B	0.09%
FIBK	A	0.08%
AKR	B	0.08%
CVBF	A	0.08%
COTY	F	0.08%
CXT	B	0.08%
LXP	D	0.08%
ABR	C	0.08%
BKU	A	0.08%
PBF	D	0.08%
TDS	B	0.08%
IOSP	B	0.08%
UE	C	0.08%
UNF	B	0.08%
CC	C	0.08%
TGNA	B	0.08%
SYNA	C	0.08%
DBRG	F	0.08%
REZI	A	0.08%
PRGS	A	0.08%
GHC	C	0.08%
PK	B	0.08%
WAFD	B	0.08%
SFNC	B	0.08%
MPW	F	0.08%
ALIT	C	0.08%
GFF	A	0.08%
MGRC	B	0.08%
RNG	B	0.08%
AMKR	D	0.08%
IOVA	F	0.08%
BOH	B	0.08%
BHF	B	0.08%
ATGE	B	0.08%
BYD	C	0.07%
GT	C	0.07%
ENR	B	0.07%
ENOV	C	0.07%
CDE	D	0.07%
PFS	B	0.07%
PECO	A	0.07%
FFBC	A	0.07%
HBI	B	0.07%
CWEN	C	0.07%
RNA	D	0.07%
CNXC	F	0.07%
VSCO	B	0.07%
BOKF	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%
PPBI	B	0.07%
ARCB	C	0.07%
BFH	B	0.07%
BXMT	C	0.07%
OUT	A	0.07%
PRK	B	0.07%
URBN	C	0.07%
ARCH	B	0.07%
INDB	B	0.07%
HUBG	A	0.07%
PFSI	D	0.07%
POST	C	0.07%
VIRT	B	0.07%
NMRK	B	0.06%
NATL	B	0.06%
CGON	F	0.06%
AZTA	D	0.06%
TRMK	B	0.06%
LRN	A	0.06%
IMVT	F	0.06%
RXO	C	0.06%
PHIN	A	0.06%
HI	C	0.06%
BLKB	B	0.06%
KSS	F	0.06%
KMT	B	0.06%
BANF	B	0.06%
MHO	D	0.06%
NBTB	B	0.06%
AIR	B	0.06%
WLY	B	0.06%
GEO	B	0.06%
EQC	B	0.06%
PINC	B	0.06%
SMMT	D	0.06%
STRA	C	0.06%
PSMT	C	0.06%
SFBS	B	0.06%
ZG	A	0.06%
VIAV	B	0.06%
SHO	C	0.06%
HURN	B	0.06%
FRME	B	0.06%
RNST	B	0.06%
ZD	C	0.06%
EVTC	B	0.06%
LAUR	A	0.06%
MTRN	C	0.06%
VSH	D	0.06%
CAKE	C	0.06%
AIN	C	0.06%
INFA	D	0.06%
IVT	B	0.06%
AAP	C	0.06%
TOWN	B	0.06%
B	B	0.06%
OSIS	B	0.06%
IPGP	D	0.06%
WERN	C	0.06%
TTMI	B	0.06%
JOBY	B	0.06%
SXI	B	0.06%
FL	F	0.06%
BANR	B	0.06%
HNI	B	0.06%
CPRI	F	0.06%
SCL	C	0.05%
SHOO	D	0.05%
MLKN	D	0.05%
LZB	B	0.05%
DDS	B	0.05%
FCF	A	0.05%
UAA	C	0.05%
HEES	B	0.05%
CHCO	B	0.05%
APOG	B	0.05%
LTC	B	0.05%
PDCO	D	0.05%
DRH	B	0.05%
HE	C	0.05%
NWBI	B	0.05%
THS	D	0.05%
NBHC	B	0.05%
GOLF	B	0.05%
PZZA	D	0.05%
KAR	B	0.05%
PPC	C	0.05%
EPC	D	0.05%
OI	C	0.05%
STEP	B	0.05%
GBX	A	0.05%
PRG	C	0.05%
VSTS	C	0.05%
WSBC	A	0.05%
SUPN	C	0.05%
GNL	F	0.05%
LGND	B	0.05%
VYX	B	0.05%
MCY	A	0.05%
OFG	B	0.05%
ROIC	A	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%
DYN	F	0.04%
PDM	D	0.04%
SPNT	A	0.04%
IART	C	0.04%
VC	D	0.04%
WS	B	0.04%
GO	C	0.04%
VRE	B	0.04%
BKE	B	0.04%
COLM	B	0.04%
NNI	D	0.04%
LADR	B	0.04%
RRR	D	0.04%
WABC	B	0.04%
CSGS	B	0.04%
REVG	B	0.04%
VRNT	C	0.04%
CAR	C	0.04%
LCII	C	0.04%
ALEX	C	0.04%
STBA	B	0.04%
ESRT	C	0.04%
CODI	B	0.04%
BLMN	F	0.04%
WT	B	0.04%
REYN	D	0.04%
HOPE	B	0.04%
NTCT	C	0.04%
TROX	D	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%
ANDE	D	0.04%
JBGS	D	0.04%
NWN	A	0.04%
ELME	D	0.04%
BHE	B	0.04%
HP	B	0.04%
CENTA	C	0.04%
LC	A	0.04%
FTRE	D	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%
NPAB	B	0.04%
CABO	C	0.04%
AVNS	F	0.03%
MMI	B	0.03%
FA	C	0.03%
XRX	F	0.03%
LGF.A	C	0.03%
SCSC	B	0.03%
CWEN	C	0.03%
BV	B	0.03%
OMI	F	0.03%
JACK	D	0.03%
MYGN	F	0.03%
BRKL	B	0.03%
DK	C	0.03%
DNUT	D	0.03%
RWT	D	0.03%
USM	B	0.03%
ODP	F	0.03%
DAN	D	0.03%
CARS	B	0.03%
UA	C	0.03%
WMK	C	0.03%
SCS	C	0.03%
KWR	C	0.03%
INSW	F	0.03%
ECPG	B	0.03%
TRS	B	0.03%
INVA	D	0.03%
SNDR	B	0.03%
CBRL	C	0.03%
MD	B	0.03%
ACT	D	0.03%
KFRC	D	0.03%
FBRT	C	0.03%
CSR	B	0.03%
ATSG	B	0.03%
OXM	D	0.03%
HTLF	B	0.03%
VSAT	F	0.03%
NAVI	C	0.03%
SAFT	C	0.03%
RBRK	A	0.03%
CNNE	B	0.03%
MSGE	F	0.03%
KALU	C	0.03%
AIV	C	0.03%
JELD	F	0.03%
UNFI	A	0.03%
WOR	F	0.03%
VSTO	A	0.03%
GIII	D	0.03%
WWW	B	0.03%
BHLB	B	0.03%
PMT	D	0.03%
BKD	D	0.03%
UNIT	B	0.03%
AMRX	C	0.03%
UVV	B	0.03%
CMPR	D	0.02%
SVC	F	0.02%
ATUS	C	0.02%
DAWN	F	0.02%
NAPA	B	0.02%
CWH	B	0.02%
BASE	C	0.02%
HPP	F	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%
MODG	F	0.02%
SEB	F	0.02%
MATW	C	0.02%
KREF	D	0.02%
PRLB	A	0.02%
ECVT	C	0.02%
AMWD	C	0.02%
XHR	B	0.02%
HLF	C	0.02%
ASTE	B	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%
HAIN	C	0.02%
BRSP	B	0.02%
MATV	D	0.02%
HCSG	C	0.02%
LEVI	F	0.02%
EMBC	C	0.02%
EYE	C	0.02%
DLX	B	0.02%
BDN	C	0.02%
JBLU	F	0.02%
OLPX	D	0.01%
OPK	C	0.01%
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%
CNDT	C	0.01%
ZIP	F	0.01%
TRTX	B	0.01%
SRCL	C	0.01%
HTZ	C	0.01%
CRCT	F	0.01%
WOOF	D	0.01%
NVRI	F	0.01%
RUSHB	B	0.01%
WRLD	C	0.01%
VMEO	B	0.01%
RMR	F	0.01%
EGBN	B	0.01%
GRC	A	0.01%
NABL	F	0.01%
SSTK	F	0.01%
PTVE	B	0.01%
BJRI	B	0.01%
FWRD	D	0.01%
USNA	C	0.01%
CCO	C	0.01%
CLB	B	0.01%
CLBK	B	0.01%
HTLD	B	0.01%
ARRY	C	0.01%
BFS	C	0.01%
SCHL	D	0.01%
DJT	C	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%
LESL	C	0.0%
LDI	C	0.0%
GEF	A	0.0%
NUS	D	0.0%
BRCC	F	0.0%

VBR Underweight 130 Positions Relative to TXS

Symbol	Grade	Weight
TSLA	B	-5.5%
CRWD	B	-4.06%
SCHW	B	-4.06%
DLR	B	-4.02%
MCK	B	-3.82%
WM	A	-3.35%
XOM	B	-3.28%
CCI	D	-2.93%
CBRE	B	-2.56%
LNG	B	-2.46%
ORCL	B	-2.37%
TPL	A	-1.96%
COP	C	-1.95%
KMI	A	-1.89%
SYY	B	-1.88%
DHI	D	-1.86%
PWR	A	-1.84%
WING	D	-1.64%
TRGP	B	-1.43%
TYL	B	-1.31%
T	A	-1.31%
INVH	D	-1.23%
EOG	A	-1.14%
TXN	C	-1.13%
CAT	B	-1.09%
J	F	-0.96%
SLB	C	-0.92%
VST	B	-0.84%
PLAY	D	-0.71%
LUV	C	-0.69%
FIX	A	-0.63%
ADUS	D	-0.62%
BKR	B	-0.61%
OXY	D	-0.51%
FANG	D	-0.47%
CPRT	A	-0.41%
USPH	B	-0.39%
HAL	C	-0.39%
CNP	B	-0.35%
PSX	C	-0.32%
CRBG	B	-0.31%
KMB	D	-0.28%
CTRA	B	-0.27%
HHH	B	-0.27%
VLO	C	-0.26%
MRO	B	-0.23%
STRL	B	-0.22%
DELL	C	-0.21%
IESC	B	-0.2%
HPE	B	-0.16%
AGL	F	-0.14%
XPEL	C	-0.14%
LII	A	-0.13%
GRBK	D	-0.12%
NTRA	B	-0.11%
LUNR	B	-0.1%
MTDR	B	-0.1%
LGIH	D	-0.09%
WFRD	D	-0.09%
GSHD	A	-0.09%
KNTK	B	-0.09%
AAOI	B	-0.09%
POWL	C	-0.08%
USLM	A	-0.08%
NTST	D	-0.08%
STC	B	-0.07%
RICK	C	-0.07%
TFIN	A	-0.07%
NXRT	B	-0.07%
ANET	C	-0.07%
MGY	A	-0.07%
CSV	B	-0.07%
DAR	C	-0.06%
OIS	C	-0.06%
SABR	C	-0.06%
CSWI	A	-0.06%
PX	A	-0.06%
FFWM	C	-0.06%
SKWD	A	-0.06%
WTTR	B	-0.06%
GLDD	B	-0.06%
TH	C	-0.06%
PRO	C	-0.06%
TTI	C	-0.06%
CRK	B	-0.06%
QTWO	A	-0.06%
EXP	A	-0.06%
SAVA	D	-0.06%
XPRO	F	-0.06%
MTCH	D	-0.06%
UEC	B	-0.06%
DXPE	B	-0.06%
YETI	C	-0.05%
CECO	A	-0.05%
TALO	C	-0.05%
ATI	D	-0.05%
GDOT	D	-0.05%
BIGC	C	-0.05%
HLX	B	-0.05%
GRNT	B	-0.05%
HESM	B	-0.05%
CHX	C	-0.05%
VTOL	B	-0.05%
EZPW	A	-0.05%
WSR	A	-0.05%
SBSI	B	-0.05%
ALG	B	-0.05%
CE	F	-0.05%
WHD	B	-0.05%
OII	B	-0.05%
ALKT	B	-0.05%
VBTX	B	-0.05%
APLD	A	-0.05%
THRY	F	-0.04%
BRY	F	-0.04%
DIOD	D	-0.04%
TSHA	C	-0.04%
TDW	F	-0.04%
CSTL	D	-0.04%
VITL	D	-0.04%
SLAB	D	-0.04%
PARR	D	-0.04%
EGY	D	-0.04%
NR	B	-0.04%
NOV	C	-0.04%
AESI	B	-0.04%
LXRX	F	-0.03%
SVRA	D	-0.03%
APPS	F	-0.02%
NOVA	F	-0.01%