VBR vs. VFVA ETF Comparison

Comparison of Vanguard Small-Cap Value ETF - DNQ (VBR) to Vanguard Wellington Fund ETF (VFVA)

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

VFVA

Vanguard Wellington Fund ETF

VFVA Description

The investment seeks to provide long-term capital appreciation by investing in stocks with relatively lower share prices relative to fundamental values as determined by the advisor. The fund invests primarily in U.S. common stocks with the potential to generate higher returns relative to the broad U.S. equity market by investing in stocks with relatively lower share prices relative to fundamental values as determined by the advisor. Under normal circumstances, at least 80% of the fund's assets will be invested in securities issued by U.S. companies.

Grade (RS Rating)

Last Trade

$124.54

Average Daily Volume

12,603

Number of Holdings ^*

613

* may have additional holdings in another (foreign) market

Performance

Period	VBR	VFVA
30 Days	0.99%	1.15%
60 Days	4.06%	4.32%
90 Days	7.32%	6.63%
12 Months	29.33%	24.57%

316 Overlapping Holdings

Symbol	Grade	Weight in VBR	Weight in VFVA	Overlap
ABCB	B	0.12%	0.16%	0.12%
ABG	B	0.14%	0.15%	0.14%
ACT	D	0.03%	0.03%	0.03%
AEO	F	0.11%	0.18%	0.11%
AGCO	F	0.18%	0.18%	0.18%
AL	B	0.13%	0.41%	0.13%
ALIT	C	0.09%	0.14%	0.09%
ALK	A	0.16%	0.23%	0.16%
ALLY	C	0.28%	0.25%	0.25%
ALSN	B	0.24%	0.16%	0.16%
AMBC	C	0.01%	0.03%	0.01%
AMG	C	0.15%	0.21%	0.15%
AMKR	F	0.1%	0.07%	0.07%
AMRX	C	0.03%	0.02%	0.02%
AMWD	C	0.02%	0.06%	0.02%
ANDE	F	0.05%	0.12%	0.05%
APA	F	0.26%	0.22%	0.22%
AR	B	0.12%	0.13%	0.12%
ARCB	C	0.07%	0.08%	0.07%
ARW	F	0.2%	0.43%	0.2%
ASB	B	0.09%	0.13%	0.09%
ASGN	F	0.11%	0.05%	0.05%
ASO	F	0.12%	0.21%	0.12%
ATGE	B	0.08%	0.11%	0.08%
ATKR	D	0.09%	0.26%	0.09%
ATSG	A	0.03%	0.17%	0.03%
AUB	B	0.1%	0.09%	0.09%
AVT	C	0.14%	0.25%	0.14%
AX	B	0.1%	0.07%	0.07%
AXL	C	0.02%	0.16%	0.02%
AXS	A	0.17%	0.26%	0.17%
BANR	B	0.06%	0.09%	0.06%
BBWI	C	0.2%	0.18%	0.18%
BC	D	0.16%	0.18%	0.16%
BCC	C	0.16%	0.07%	0.07%
BEN	C	0.09%	0.05%	0.05%
BERY	D	0.21%	0.38%	0.21%
BFH	B	0.07%	0.17%	0.07%
BG	D	0.39%	0.27%	0.27%
BGS	F	0.02%	0.13%	0.02%
BHE	B	0.04%	0.02%	0.02%
BHF	C	0.08%	0.22%	0.08%
BHLB	B	0.03%	0.08%	0.03%
BKU	A	0.08%	0.15%	0.08%
BLDR	D	0.65%	0.08%	0.08%
BLMN	F	0.04%	0.04%	0.04%
BMBL	C	0.02%	0.19%	0.02%
BOKF	B	0.07%	0.08%	0.07%
BPOP	C	0.21%	0.06%	0.06%
BRKL	B	0.02%	0.02%	0.02%
BTU	C	0.09%	0.17%	0.09%
BV	C	0.03%	0.1%	0.03%
BWA	D	0.24%	0.25%	0.24%
BYD	B	0.06%	0.18%	0.06%
CADE	B	0.17%	0.16%	0.16%
CAL	F	0.02%	0.06%	0.02%
CATY	B	0.08%	0.09%	0.08%
CC	D	0.09%	0.02%	0.02%
CFFN	B	0.02%	0.04%	0.02%
CG	B	0.29%	0.03%	0.03%
CHRD	F	0.23%	0.18%	0.18%
CLF	F	0.17%	0.21%	0.17%
CMA	B	0.23%	0.15%	0.15%
CMC	B	0.18%	0.19%	0.18%
CMPR	F	0.02%	0.02%	0.02%
CNDT	D	0.01%	0.03%	0.01%
CNO	B	0.1%	0.04%	0.04%
CNXC	F	0.08%	0.06%	0.06%
COHR	B	0.2%	0.07%	0.07%
COLB	B	0.16%	0.34%	0.16%
COOP	B	0.16%	0.13%	0.13%
CRC	A	0.12%	0.15%	0.12%
CRGY	A	0.05%	0.16%	0.05%
CWK	C	0.09%	0.08%	0.08%
CXW	B	0.04%	0.07%	0.04%
DAN	F	0.04%	0.17%	0.04%
DIN	C	0.01%	0.15%	0.01%
DINO	D	0.21%	0.16%	0.16%
DLX	B	0.02%	0.14%	0.02%
DNB	B	0.11%	0.09%	0.09%
DNOW	B	0.04%	0.09%	0.04%
DTM	A	0.22%	0.17%	0.17%
DXC	D	0.11%	0.23%	0.11%
EAT	A	0.09%	0.08%	0.08%
EBC	B	0.09%	0.07%	0.07%
ECVT	C	0.02%	0.14%	0.02%
EGBN	B	0.01%	0.1%	0.01%
EIG	B	0.03%	0.02%	0.02%
ELAN	D	0.21%	0.14%	0.14%
EMBC	D	0.02%	0.07%	0.02%
EMN	D	0.38%	0.09%	0.09%
ENS	D	0.12%	0.12%	0.12%
EPC	F	0.05%	0.02%	0.02%
EQH	B	0.39%	0.07%	0.07%
ESI	B	0.17%	0.03%	0.03%
ESNT	D	0.19%	0.45%	0.19%
ETWO	F	0.03%	0.04%	0.03%
EWBC	A	0.33%	0.08%	0.08%
EYE	C	0.02%	0.11%	0.02%
FAF	C	0.19%	0.08%	0.08%
FCF	B	0.05%	0.12%	0.05%
FCNCA	A	0.57%	0.12%	0.12%
FDP	B	0.03%	0.11%	0.03%
FFBC	B	0.07%	0.2%	0.07%
FHN	A	0.24%	0.1%	0.1%
FIBK	B	0.07%	0.07%	0.07%
FL	F	0.07%	0.09%	0.07%
FMC	D	0.24%	0.05%	0.05%
FNB	B	0.15%	0.19%	0.15%
FOR	F	0.02%	0.03%	0.02%
FRME	B	0.06%	0.05%	0.05%
FULT	B	0.09%	0.1%	0.09%
FWRD	D	0.01%	0.06%	0.01%
GAP	D	0.15%	0.1%	0.1%
GATX	B	0.14%	0.05%	0.05%
GBX	B	0.04%	0.16%	0.04%
GEF	B	0.04%	0.05%	0.04%
GEF	B	0.0%	0.05%	0.0%
GEO	A	0.05%	0.04%	0.04%
GHC	B	0.08%	0.05%	0.05%
GIII	D	0.03%	0.17%	0.03%
GL	C	0.27%	0.08%	0.08%
GNW	A	0.09%	0.12%	0.09%
GO	C	0.04%	0.02%	0.02%
GPI	B	0.14%	0.06%	0.06%
GPK	D	0.26%	0.06%	0.06%
GT	C	0.07%	0.34%	0.07%
GTES	A	0.12%	0.3%	0.12%
HAIN	D	0.02%	0.18%	0.02%
HBI	B	0.07%	0.09%	0.07%
HCC	B	0.1%	0.19%	0.1%
HEES	C	0.04%	0.08%	0.04%
HELE	C	0.04%	0.18%	0.04%
HI	C	0.06%	0.07%	0.06%
HII	F	0.3%	0.11%	0.11%
HLF	C	0.02%	0.07%	0.02%
HOG	F	0.13%	0.18%	0.13%
HOMB	A	0.14%	0.02%	0.02%
HOPE	B	0.04%	0.1%	0.04%
HRB	D	0.26%	0.13%	0.13%
HUBG	A	0.08%	0.04%	0.04%
HWC	B	0.13%	0.19%	0.13%
HY	D	0.02%	0.03%	0.02%
IART	C	0.03%	0.11%	0.03%
INDB	B	0.07%	0.07%	0.07%
INGR	B	0.26%	0.17%	0.17%
INSW	F	0.04%	0.24%	0.04%
IVZ	C	0.22%	0.19%	0.19%
JAZZ	C	0.19%	0.17%	0.17%
JBL	C	0.37%	0.03%	0.03%
JEF	A	0.26%	0.17%	0.17%
JELD	F	0.04%	0.13%	0.04%
JHG	B	0.14%	0.07%	0.07%
JLL	D	0.37%	0.12%	0.12%
JXN	C	0.2%	0.15%	0.15%
KALU	C	0.03%	0.04%	0.03%
KBH	D	0.16%	0.21%	0.16%
KELYA	F	0.02%	0.06%	0.02%
KFY	B	0.11%	0.07%	0.07%
KNX	B	0.24%	0.19%	0.19%
KOP	C	0.02%	0.16%	0.02%
LC	B	0.03%	0.03%	0.03%
LEA	F	0.18%	0.17%	0.17%
LEG	F	0.05%	0.22%	0.05%
LKQ	F	0.3%	0.16%	0.16%
LNC	B	0.15%	0.32%	0.15%
LZB	B	0.05%	0.14%	0.05%
M	D	0.12%	0.22%	0.12%
MAN	F	0.1%	0.12%	0.1%
MAT	D	0.19%	0.09%	0.09%
MATV	F	0.03%	0.11%	0.03%
MATW	C	0.02%	0.05%	0.02%
MATX	B	0.14%	0.21%	0.14%
MD	C	0.03%	0.17%	0.03%
MDU	D	0.15%	0.18%	0.15%
MHK	D	0.25%	0.28%	0.25%
MHO	D	0.06%	0.19%	0.06%
MLI	B	0.24%	0.22%	0.22%
MLKN	F	0.05%	0.07%	0.05%
MODG	F	0.02%	0.09%	0.02%
MOS	D	0.25%	0.23%	0.23%
MRC	B	0.03%	0.04%	0.03%
MTG	D	0.19%	0.28%	0.19%
MTH	D	0.21%	0.05%	0.05%
MUR	F	0.14%	0.29%	0.14%
NAVI	F	0.03%	0.13%	0.03%
NBHC	B	0.05%	0.03%	0.03%
NBTB	B	0.06%	0.08%	0.06%
NCLH	B	0.13%	0.04%	0.04%
NMRK	B	0.06%	0.16%	0.06%
NNI	D	0.04%	0.06%	0.04%
NTCT	C	0.04%	0.08%	0.04%
NUS	C	0.01%	0.15%	0.01%
NVST	C	0.1%	0.09%	0.09%
NWBI	B	0.05%	0.05%	0.05%
NWL	B	0.09%	0.13%	0.09%
NX	C	0.04%	0.09%	0.04%
NXST	C	0.15%	0.05%	0.05%
OC	A	0.44%	0.07%	0.07%
ODP	F	0.03%	0.18%	0.03%
OFG	B	0.06%	0.05%	0.05%
OGN	F	0.14%	0.15%	0.14%
OI	D	0.06%	0.27%	0.06%
OLN	F	0.16%	0.14%	0.14%
OLPX	D	0.01%	0.03%	0.01%
OMCL	C	0.06%	0.11%	0.06%
OMF	A	0.16%	0.07%	0.07%
OMI	F	0.03%	0.16%	0.03%
ONB	B	0.17%	0.21%	0.17%
ORI	A	0.24%	0.13%	0.13%
OVV	C	0.29%	0.26%	0.26%
OZK	B	0.13%	0.12%	0.12%
PBF	D	0.08%	0.18%	0.08%
PBI	B	0.04%	0.07%	0.04%
PCRX	C	0.02%	0.19%	0.02%
PENN	C	0.08%	0.06%	0.06%
PFS	B	0.07%	0.06%	0.06%
PFSI	C	0.08%	0.05%	0.05%
PHIN	B	0.06%	0.1%	0.06%
PII	F	0.13%	0.08%	0.08%
PINC	B	0.06%	0.02%	0.02%
PNFP	B	0.1%	0.11%	0.1%
PPBI	B	0.07%	0.11%	0.07%
PPC	B	0.05%	0.04%	0.04%
PR	B	0.12%	0.17%	0.12%
PRA	B	0.02%	0.02%	0.02%
PRGO	C	0.1%	0.24%	0.1%
PRLB	C	0.02%	0.05%	0.02%
PTEN	C	0.09%	0.21%	0.09%
PTVE	B	0.01%	0.03%	0.01%
PUMP	D	0.02%	0.19%	0.02%
PVH	C	0.16%	0.21%	0.16%
QRVO	F	0.28%	0.12%	0.12%
R	B	0.17%	0.41%	0.17%
RDN	D	0.15%	0.28%	0.15%
REVG	B	0.04%	0.07%	0.04%
REZI	A	0.08%	0.14%	0.08%
RGA	B	0.41%	0.04%	0.04%
RNG	C	0.07%	0.17%	0.07%
RNR	C	0.41%	0.2%	0.2%
RNST	B	0.06%	0.1%	0.06%
RRC	B	0.2%	0.1%	0.1%
RRX	B	0.32%	0.12%	0.12%
RS	B	0.46%	0.02%	0.02%
RUSHA	B	0.1%	0.06%	0.06%
SAIC	F	0.21%	0.1%	0.1%
SANM	B	0.1%	0.07%	0.07%
SATS	C	0.09%	0.09%	0.09%
SBH	B	0.04%	0.16%	0.04%
SCHL	F	0.02%	0.09%	0.02%
SCSC	B	0.03%	0.11%	0.03%
SEB	F	0.02%	0.16%	0.02%
SF	B	0.26%	0.14%	0.14%
SIRI	D	0.15%	0.2%	0.15%
SJM	D	0.35%	0.15%	0.15%
SKYW	B	0.09%	0.11%	0.09%
SLM	B	0.14%	0.03%	0.03%
SM	C	0.07%	0.22%	0.07%
SNDR	B	0.03%	0.15%	0.03%
SNV	B	0.18%	0.2%	0.18%
SNX	D	0.22%	0.24%	0.22%
SON	F	0.15%	0.21%	0.15%
SSB	B	0.21%	0.08%	0.08%
ST	F	0.16%	0.15%	0.15%
STBA	B	0.04%	0.26%	0.04%
STLD	B	0.27%	0.13%	0.13%
SWI	B	0.02%	0.03%	0.02%
TAP	B	0.29%	0.16%	0.16%
TDS	B	0.06%	0.12%	0.06%
TEX	D	0.1%	0.21%	0.1%
TGNA	B	0.08%	0.2%	0.08%
THG	A	0.14%	0.04%	0.04%
TKR	F	0.15%	0.09%	0.09%
TMHC	B	0.2%	0.06%	0.06%
TNL	B	0.09%	0.21%	0.09%
TOL	B	0.46%	0.16%	0.16%
TOWN	B	0.06%	0.05%	0.05%
TPH	D	0.12%	0.21%	0.12%
TPR	B	0.31%	0.04%	0.04%
TRMK	B	0.05%	0.07%	0.05%
TROX	D	0.05%	0.2%	0.05%
TTMI	B	0.05%	0.25%	0.05%
UA	C	0.03%	0.04%	0.03%
UCB	A	0.1%	0.02%	0.02%
UFPI	C	0.22%	0.11%	0.11%
UHAL	D	0.02%	0.22%	0.02%
UHAL	D	0.2%	0.22%	0.2%
UHS	D	0.37%	0.16%	0.16%
UNFI	B	0.03%	0.12%	0.03%
UNM	A	0.25%	0.6%	0.25%
UPBD	C	0.05%	0.07%	0.05%
URBN	C	0.08%	0.07%	0.07%
UTHR	C	0.46%	0.15%	0.15%
VAC	C	0.07%	0.09%	0.07%
VLY	B	0.11%	0.09%	0.09%
VREX	C	0.01%	0.07%	0.01%
VRNT	D	0.05%	0.04%	0.04%
VSCO	A	0.06%	0.06%	0.06%
VSH	F	0.07%	0.07%	0.07%
VYX	C	0.06%	0.02%	0.02%
WAFD	B	0.08%	0.21%	0.08%
WAL	B	0.26%	0.18%	0.18%
WBS	A	0.23%	0.22%	0.22%
WCC	B	0.24%	0.2%	0.2%
WERN	B	0.07%	0.03%	0.03%
WHR	B	0.17%	0.21%	0.17%
WKC	D	0.05%	0.16%	0.05%
WMK	B	0.03%	0.03%	0.03%
WNC	D	0.02%	0.04%	0.02%
WRLD	D	0.01%	0.02%	0.01%
WSBC	B	0.05%	0.08%	0.05%
WWW	A	0.04%	0.15%	0.04%
XRAY	D	0.16%	0.06%	0.06%
XRX	F	0.03%	0.05%	0.03%
ZD	B	0.06%	0.17%	0.06%
ZION	B	0.2%	0.16%	0.16%

VBR Overweight 481 Positions Relative to VFVA

Symbol	Grade	Weight
SW	A	0.74%
BAH	D	0.61%
CSL	C	0.6%
ATO	A	0.58%
EME	A	0.58%
NRG	B	0.54%
PNR	B	0.47%
IEX	B	0.47%
THC	C	0.46%
WSM	D	0.45%
RPM	B	0.45%
KIM	A	0.45%
USFD	A	0.43%
AES	F	0.41%
ACM	B	0.4%
GLPI	C	0.39%
REG	A	0.38%
CPT	C	0.38%
ALLE	D	0.37%
JNPR	D	0.37%
FFIV	B	0.37%
TTEK	F	0.36%
KMX	C	0.35%
PFGC	B	0.35%
ITT	A	0.35%
CHRW	B	0.35%
TFX	F	0.34%
NVT	C	0.34%
IPG	F	0.34%
BXP	D	0.33%
HUBB	B	0.33%
CCK	D	0.33%
BJ	B	0.32%
LDOS	C	0.32%
SFM	A	0.32%
FBIN	F	0.32%
CACI	C	0.32%
ATR	B	0.31%
EPAM	C	0.31%
SCI	A	0.31%
AIZ	A	0.3%
OHI	B	0.3%
AA	A	0.29%
PNW	B	0.29%
AFG	A	0.29%
ARMK	C	0.29%
HAS	D	0.28%
FRT	B	0.28%
SOLV	F	0.28%
EHC	B	0.28%
Z	A	0.28%
EVR	B	0.27%
HSIC	C	0.27%
WTRG	B	0.27%
DCI	B	0.26%
NNN	C	0.26%
PRI	A	0.26%
MUSA	B	0.26%
EGP	D	0.26%
AIT	B	0.25%
NYT	D	0.25%
KBR	F	0.25%
GME	C	0.25%
FYBR	C	0.25%
APG	C	0.24%
FCN	F	0.24%
FLR	B	0.24%
AGNC	C	0.24%
OGE	A	0.24%
DKS	D	0.24%
BRX	A	0.24%
AYI	B	0.24%
LAD	B	0.24%
SWN	C	0.23%
AXTA	B	0.23%
DOC	D	0.23%
SEIC	B	0.23%
MIDD	D	0.22%
ADC	A	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	C	0.21%
X	C	0.21%
WTFC	B	0.21%
LUMN	C	0.21%
MKSI	C	0.21%
AAL	B	0.21%
RL	C	0.21%
FR	C	0.21%
FLS	A	0.2%
LPX	B	0.2%
DVA	C	0.2%
CBSH	A	0.2%
G	B	0.2%
NSIT	F	0.2%
KEX	B	0.2%
CFR	B	0.19%
STWD	C	0.19%
BIO	C	0.19%
PB	A	0.19%
OSK	C	0.19%
MSA	D	0.19%
CRUS	F	0.19%
RHI	C	0.19%
RLI	A	0.19%
EVRG	A	0.19%
ESAB	C	0.18%
CBT	C	0.18%
MOG.A	B	0.17%
VMI	B	0.17%
LAMR	D	0.17%
ACI	C	0.17%
XPO	B	0.17%
AN	D	0.17%
VVV	D	0.16%
IDA	A	0.16%
AUR	C	0.16%
NFG	A	0.16%
THO	C	0.16%
ALB	B	0.16%
ACHC	F	0.16%
PARA	D	0.16%
SRCL	B	0.16%
SIGI	B	0.16%
WTS	B	0.16%
KNF	B	0.15%
AM	A	0.15%
GBCI	B	0.15%
VNT	C	0.15%
KD	A	0.15%
BECN	B	0.15%
UGI	C	0.15%
TPG	A	0.14%
CPRI	F	0.14%
RIVN	F	0.14%
PIPR	B	0.14%
BDC	B	0.14%
RYN	D	0.14%
SUM	B	0.14%
BCO	F	0.14%
ZWS	B	0.14%
POR	C	0.14%
PSN	C	0.14%
UBSI	B	0.14%
LYFT	C	0.13%
UMBF	B	0.13%
ITGR	B	0.13%
SBRA	B	0.13%
SIG	C	0.13%
FLO	D	0.13%
NUVL	D	0.13%
MGM	D	0.13%
CUZ	B	0.13%
SWX	A	0.13%
FFIN	B	0.13%
SLG	B	0.13%
KRC	C	0.13%
KTB	A	0.13%
AVNT	B	0.13%
ACA	A	0.13%
CNX	A	0.13%
NJR	A	0.13%
HASI	F	0.12%
WU	F	0.12%
ASH	F	0.12%
WTM	A	0.12%
SLGN	A	0.12%
OGS	A	0.12%
ICUI	D	0.12%
SEE	D	0.12%
BKH	A	0.12%
FUL	F	0.12%
ESGR	B	0.11%
NHI	D	0.11%
SR	A	0.11%
SMG	C	0.11%
ALE	A	0.11%
EPR	D	0.11%
PLXS	B	0.11%
KMPR	A	0.11%
MSM	D	0.11%
IAC	D	0.11%
MTZ	A	0.11%
MDGL	C	0.11%
MAC	A	0.11%
EDR	A	0.11%
PNM	B	0.11%
AGO	A	0.11%
HUN	F	0.11%
HL	C	0.11%
TCBI	B	0.1%
MGEE	A	0.1%
ABM	B	0.1%
ESE	B	0.1%
IBOC	B	0.1%
SXT	C	0.1%
NPO	A	0.1%
CDP	C	0.1%
GVA	A	0.1%
FBP	B	0.1%
NWE	C	0.1%
MPW	F	0.1%
HIW	D	0.1%
PCH	D	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%
FHB	B	0.09%
PRIM	A	0.09%
NSP	F	0.09%
UNF	B	0.09%
WSFS	B	0.09%
WEN	C	0.09%
APAM	B	0.09%
AVA	C	0.09%
CBU	B	0.09%
SYNA	D	0.09%
COMP	B	0.09%
WBA	F	0.09%
GFF	B	0.09%
AWR	A	0.09%
AMED	F	0.09%
BRC	C	0.09%
APLE	B	0.09%
AROC	A	0.09%
PAG	B	0.09%
COTY	F	0.09%
OTTR	C	0.09%
BGC	C	0.09%
POST	C	0.08%
CXT	C	0.08%
DY	C	0.08%
AIN	C	0.08%
ABR	B	0.08%
ADTN	A	0.08%
PK	D	0.08%
LXP	D	0.08%
IOSP	C	0.08%
TRN	A	0.08%
PRGS	B	0.08%
WLK	F	0.08%
TDC	D	0.08%
DEI	B	0.08%
JWN	C	0.08%
FHI	B	0.08%
ENR	B	0.07%
PECO	A	0.07%
HAYW	B	0.07%
MTRN	C	0.07%
AAP	D	0.07%
AZZ	A	0.07%
CVBF	B	0.07%
ARCH	B	0.07%
SMMT	D	0.07%
ENOV	C	0.07%
HNI	B	0.07%
PRK	B	0.07%
DBRG	F	0.07%
OSIS	A	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%
IOVA	F	0.07%
SFNC	B	0.07%
MGRC	B	0.07%
OUT	A	0.07%
BXMT	C	0.07%
UE	A	0.07%
BANF	B	0.06%
RXO	C	0.06%
HURN	B	0.06%
GNL	D	0.06%
PRG	C	0.06%
VSTS	F	0.06%
THS	F	0.06%
INFA	D	0.06%
WLY	B	0.06%
IPGP	D	0.06%
SFBS	B	0.06%
JOBY	B	0.06%
VGR	B	0.06%
VIAV	C	0.06%
KMT	C	0.06%
CGON	F	0.06%
LAUR	A	0.06%
EQC	A	0.06%
IBTX	B	0.06%
IVT	A	0.06%
NATL	B	0.06%
SHO	D	0.06%
STRA	C	0.06%
SXI	B	0.06%
EVTC	B	0.06%
ZG	A	0.06%
BLKB	B	0.06%
AIR	B	0.06%
KSS	F	0.06%
CRI	F	0.06%
MIR	A	0.06%
PSMT	D	0.06%
AZTA	F	0.06%
CABO	C	0.05%
HLIO	C	0.05%
HE	C	0.05%
LTC	B	0.05%
CENTA	C	0.05%
AMN	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%
NPAB	F	0.05%
UAA	C	0.05%
SHOO	D	0.05%
DRH	B	0.05%
PDCO	F	0.05%
LGND	C	0.05%
MCY	B	0.05%
LRN	A	0.05%
PZZA	F	0.05%
GOLF	B	0.05%
FTRE	D	0.05%
KAR	A	0.05%
B	A	0.05%
CAKE	B	0.05%
IMVT	F	0.05%
ROIC	A	0.05%
AIV	C	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%
ARI	C	0.04%
BKD	F	0.04%
OXM	F	0.04%
UNIT	B	0.04%
VC	F	0.04%
LADR	B	0.04%
VCTR	B	0.04%
BKE	B	0.04%
COLM	B	0.04%
SPNT	A	0.04%
HP	C	0.04%
VSAT	F	0.04%
CSGS	B	0.04%
WT	A	0.04%
RRR	F	0.04%
ALEX	B	0.04%
VRE	A	0.04%
CAR	C	0.04%
VRTS	B	0.04%
NGVT	C	0.04%
CODI	B	0.04%
HMN	B	0.04%
ESRT	C	0.04%
LCII	D	0.04%
HTH	B	0.04%
JBGS	F	0.04%
KN	B	0.04%
CNK	A	0.04%
DYN	F	0.04%
APOG	B	0.04%
ELME	D	0.04%
GTY	A	0.04%
NWN	A	0.04%
USM	B	0.03%
SMR	A	0.03%
CMTG	D	0.03%
JACK	D	0.03%
BDN	C	0.03%
LGF.A	F	0.03%
DNUT	F	0.03%
MMI	B	0.03%
JBLU	F	0.03%
CWEN	C	0.03%
TRS	B	0.03%
CBRL	C	0.03%
THR	B	0.03%
FA	D	0.03%
RWT	D	0.03%
INVA	C	0.03%
VSTO	A	0.03%
LEVI	F	0.03%
HTLF	B	0.03%
CARS	C	0.03%
ECPG	C	0.03%
FBRT	C	0.03%
CNNE	B	0.03%
CSR	A	0.03%
AVNS	F	0.03%
WS	B	0.03%
KFRC	D	0.03%
KWR	D	0.03%
SCS	B	0.03%
DK	D	0.03%
SAFT	B	0.03%
MYGN	F	0.03%
MSGE	F	0.03%
TILE	B	0.02%
HTLD	B	0.02%
ATUS	C	0.02%
MXL	C	0.02%
GES	F	0.02%
BASE	C	0.02%
TMP	B	0.02%
HPP	F	0.02%
RGR	F	0.02%
KREF	D	0.02%
ASTE	C	0.02%
BRSP	C	0.02%
XHR	B	0.02%
SVC	F	0.02%
SAH	B	0.02%
CVI	D	0.02%
HCSG	C	0.02%
MNRO	C	0.02%
PRAA	C	0.02%
FG	B	0.02%
RBRK	A	0.02%
LDI	C	0.01%
BRCC	F	0.01%
OPK	B	0.01%
TWKS	B	0.01%
DJT	C	0.01%
CENT	C	0.01%
TGI	A	0.01%
ALX	D	0.01%
CMP	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%
CRCT	F	0.01%
WOOF	D	0.01%
RUSHB	B	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%
NVRI	F	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 299 Positions Relative to VFVA

Symbol	Grade	Weight
T	A	-1.01%
MO	A	-1.0%
FDX	B	-0.89%
GM	B	-0.87%
XOM	B	-0.86%
VZ	C	-0.8%
BAC	A	-0.76%
HCA	F	-0.76%
EOG	A	-0.75%
CVS	F	-0.74%
TFC	A	-0.73%
C	B	-0.72%
USB	B	-0.71%
PSX	C	-0.71%
CVX	A	-0.7%
SLB	C	-0.69%
CMCSA	B	-0.68%
F	C	-0.68%
VLO	C	-0.66%
INTC	C	-0.66%
COF	B	-0.66%
CI	D	-0.66%
COP	B	-0.65%
WFC	A	-0.59%
MU	D	-0.59%
MPC	D	-0.56%
JPM	A	-0.54%
FI	A	-0.53%
MET	A	-0.52%
AIG	C	-0.51%
OXY	F	-0.5%
BK	B	-0.5%
CB	C	-0.48%
TRV	A	-0.48%
BMY	A	-0.46%
GILD	C	-0.44%
GS	B	-0.44%
FCX	F	-0.43%
MDT	D	-0.42%
HPQ	B	-0.42%
PCAR	C	-0.42%
RPRX	F	-0.41%
DIS	B	-0.4%
NEM	D	-0.4%
NUE	D	-0.38%
PFE	F	-0.36%
WMB	A	-0.35%
MCK	A	-0.35%
CIVI	D	-0.33%
FOX	A	-0.33%
SYF	B	-0.33%
PNC	B	-0.33%
HPE	B	-0.32%
MS	A	-0.32%
DHI	D	-0.31%
CE	F	-0.3%
LYB	F	-0.3%
FANG	D	-0.3%
TMUS	B	-0.3%
BDX	F	-0.29%
UAL	A	-0.29%
PRU	B	-0.28%
PRDO	B	-0.28%
TGT	B	-0.27%
CAH	B	-0.26%
GD	D	-0.26%
AZO	C	-0.26%
VTRS	A	-0.25%
PYPL	B	-0.24%
CCL	A	-0.23%
ADM	D	-0.23%
HRI	C	-0.22%
FIS	C	-0.22%
CNC	F	-0.22%
KR	B	-0.22%
AMR	C	-0.2%
DBX	C	-0.2%
ZI	D	-0.2%
ACGL	D	-0.2%
GPOR	A	-0.2%
DAL	A	-0.2%
ADNT	F	-0.19%
KOS	D	-0.19%
NOV	D	-0.19%
LEN	D	-0.19%
KEY	B	-0.19%
LILAK	F	-0.19%
CTRA	B	-0.19%
STNG	D	-0.19%
MTDR	C	-0.18%
TNK	F	-0.18%
CCS	F	-0.18%
IBM	C	-0.18%
AHCO	D	-0.18%
CF	A	-0.18%
MTB	A	-0.18%
CCSI	C	-0.18%
JNJ	D	-0.18%
DOW	F	-0.18%
ALL	A	-0.17%
DAR	B	-0.17%
EFSC	B	-0.17%
EG	D	-0.17%
GTN	F	-0.17%
IMKTA	C	-0.17%
EQT	A	-0.17%
SLVM	C	-0.16%
PARR	F	-0.16%
ASIX	C	-0.16%
GNK	D	-0.16%
COMM	D	-0.16%
OCFC	B	-0.16%
BXC	B	-0.16%
CNH	C	-0.16%
CAG	F	-0.16%
DE	C	-0.15%
GLNG	D	-0.15%
MBUU	C	-0.15%
MCB	B	-0.15%
TWI	F	-0.15%
SPTN	F	-0.15%
CEIX	A	-0.14%
CSCO	B	-0.14%
NWSA	B	-0.14%
IRWD	F	-0.14%
TPC	C	-0.14%
RTX	D	-0.14%
SNCY	C	-0.14%
RMAX	D	-0.14%
FNF	A	-0.14%
PLTK	B	-0.14%
EMR	A	-0.14%
ASC	D	-0.14%
BRY	F	-0.14%
APTV	F	-0.14%
TDOC	D	-0.13%
LPG	F	-0.13%
CFG	B	-0.13%
BELFB	C	-0.13%
VBTX	B	-0.13%
PM	A	-0.13%
GOGL	C	-0.13%
GDOT	D	-0.12%
NAT	F	-0.12%
HLX	C	-0.12%
DCOM	A	-0.12%
RPAY	D	-0.12%
CMRE	B	-0.12%
PLAB	D	-0.12%
DOLE	D	-0.12%
RYI	C	-0.12%
DHT	D	-0.12%
BANC	B	-0.12%
APPS	F	-0.12%
SXC	A	-0.12%
STNE	F	-0.11%
BUSE	B	-0.11%
CLW	F	-0.11%
SASR	B	-0.11%
KMI	A	-0.11%
PEBO	B	-0.11%
MTCH	F	-0.11%
PHM	D	-0.11%
MTUS	D	-0.11%
FIVE	F	-0.11%
JRVR	F	-0.11%
SCHW	A	-0.1%
TK	D	-0.1%
RF	A	-0.1%
GPN	C	-0.1%
CSTM	F	-0.1%
STC	B	-0.1%
LULU	C	-0.1%
SD	F	-0.1%
KHC	F	-0.1%
CUBI	C	-0.1%
DLTR	F	-0.1%
EGY	F	-0.1%
CHGG	F	-0.1%
SMP	C	-0.09%
GPRE	F	-0.09%
TXT	D	-0.09%
GCO	C	-0.09%
PATK	D	-0.09%
FOXF	F	-0.09%
UVE	A	-0.09%
VTOL	B	-0.09%
BZH	C	-0.09%
AFL	C	-0.09%
HVT	D	-0.09%
NTB	B	-0.09%
SFL	D	-0.08%
RYAM	C	-0.08%
SSNC	C	-0.08%
RJF	A	-0.08%
BOOM	F	-0.08%
PLAY	D	-0.08%
ACCO	B	-0.08%
LEN	D	-0.08%
SRCE	B	-0.08%
DVN	F	-0.08%
SB	D	-0.08%
HIG	B	-0.07%
WYNN	D	-0.07%
OEC	C	-0.07%
SNEX	B	-0.07%
HAL	C	-0.07%
PAGS	F	-0.07%
MTW	C	-0.07%
TRST	B	-0.07%
ELV	F	-0.07%
DXPE	B	-0.07%
TSN	B	-0.07%
CCRN	F	-0.07%
MMM	D	-0.07%
HAFC	B	-0.07%
NIC	B	-0.07%
CNA	C	-0.07%
NOG	B	-0.07%
ZEUS	C	-0.07%
QCOM	F	-0.07%
NMIH	D	-0.07%
BBW	B	-0.07%
LBRDA	C	-0.06%
ALGT	C	-0.06%
LXU	C	-0.06%
GOOG	B	-0.06%
CROX	F	-0.06%
UIS	C	-0.06%
PFG	C	-0.06%
DENN	D	-0.06%
OIS	C	-0.06%
TCBK	B	-0.06%
BUR	C	-0.06%
SSP	F	-0.06%
REPX	A	-0.06%
ENVA	B	-0.05%
EBAY	D	-0.05%
BW	C	-0.05%
GRBK	D	-0.05%
HFWA	B	-0.05%
REX	D	-0.05%
LILA	F	-0.05%
WBD	B	-0.05%
RGP	F	-0.05%
CNOB	B	-0.05%
TTEC	F	-0.05%
LBRT	F	-0.05%
TWLO	A	-0.05%
APO	A	-0.05%
HZO	F	-0.04%
GLDD	B	-0.04%
WTTR	A	-0.04%
HNRG	B	-0.04%
MKL	A	-0.04%
AMPY	D	-0.04%
XPOF	B	-0.04%
FFWM	C	-0.04%
DESP	A	-0.04%
MOV	D	-0.04%
RDUS	C	-0.04%
TALO	C	-0.04%
BY	B	-0.04%
ANET	C	-0.03%
HOV	D	-0.03%
IGT	F	-0.03%
SCVL	F	-0.03%
MBIN	F	-0.03%
CMCO	C	-0.03%
JILL	D	-0.03%
FF	F	-0.03%
QCRH	B	-0.03%
HRTG	C	-0.03%
AMAL	B	-0.03%
INMD	C	-0.03%
SHLS	F	-0.03%
DGX	A	-0.03%
USAP	A	-0.03%
ZIMV	F	-0.03%
DRVN	B	-0.03%
IIIN	D	-0.03%
TBRG	A	-0.02%
NR	C	-0.02%
NFBK	B	-0.02%
HGV	C	-0.02%
KODK	B	-0.02%
TITN	D	-0.02%
HDSN	F	-0.02%
ALKS	C	-0.02%
CRBG	B	-0.02%
BAND	D	-0.02%
TTI	B	-0.02%
DG	F	-0.02%
IP	A	-0.02%
PFBC	B	-0.02%
FSLR	F	-0.02%
MEI	F	-0.02%
STT	B	-0.02%
OBK	B	-0.02%