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

$201.60

Average Daily Volume

403,375

Number of Holdings ^*

795

* 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

$121.51

Average Daily Volume

26,055

Number of Holdings ^*

556

* may have additional holdings in another (foreign) market

Performance

Period	VBR	VFVA
30 Days	5.14%	4.23%
60 Days	5.22%	2.18%
90 Days	10.72%	8.36%
12 Months	26.47%	22.78%

294 Overlapping Holdings

Symbol	Grade	Weight in VBR	Weight in VFVA	Overlap
AAL	D	0.2%	0.08%	0.08%
AAP	F	0.08%	0.14%	0.08%
ABCB	B	0.12%	0.15%	0.12%
ABG	D	0.15%	0.16%	0.15%
ACT	B	0.03%	0.02%	0.02%
AGCO	D	0.17%	0.15%	0.15%
AL	D	0.14%	0.53%	0.14%
ALIT	D	0.09%	0.06%	0.06%
ALK	C	0.13%	0.21%	0.13%
ALLY	F	0.35%	0.32%	0.32%
ALSN	B	0.24%	0.14%	0.14%
AMCX	F	0.01%	0.11%	0.01%
AMG	C	0.16%	0.2%	0.16%
AMKR	F	0.11%	0.13%	0.11%
AMRX	B	0.04%	0.03%	0.03%
AMWD	D	0.02%	0.05%	0.02%
ANDE	D	0.05%	0.11%	0.05%
APA	F	0.31%	0.05%	0.05%
AR	F	0.12%	0.05%	0.05%
ARCB	D	0.07%	0.04%	0.04%
ARCH	F	0.07%	0.13%	0.07%
ARW	C	0.21%	0.18%	0.18%
ASB	D	0.1%	0.14%	0.1%
ASGN	D	0.12%	0.06%	0.06%
ASO	C	0.12%	0.15%	0.12%
ATGE	C	0.08%	0.14%	0.08%
ATKR	F	0.1%	0.04%	0.04%
ATSG	D	0.03%	0.16%	0.03%
AUB	D	0.1%	0.12%	0.1%
AVT	C	0.15%	0.19%	0.15%
AX	D	0.1%	0.09%	0.09%
AXL	F	0.02%	0.13%	0.02%
AXS	B	0.18%	0.26%	0.18%
BANR	B	0.06%	0.08%	0.06%
BBWI	F	0.2%	0.2%	0.2%
BC	C	0.16%	0.07%	0.07%
BCC	B	0.16%	0.02%	0.02%
BERY	B	0.22%	0.37%	0.22%
BG	D	0.42%	0.26%	0.26%
BGS	D	0.02%	0.17%	0.02%
BHF	F	0.08%	0.24%	0.08%
BHLB	B	0.04%	0.07%	0.04%
BKU	C	0.08%	0.16%	0.08%
BLDR	C	0.62%	0.06%	0.06%
BMBL	F	0.02%	0.1%	0.02%
BOKF	B	0.07%	0.08%	0.07%
BPOP	C	0.22%	0.07%	0.07%
BRKL	C	0.03%	0.06%	0.03%
BTU	D	0.08%	0.14%	0.08%
BV	C	0.03%	0.09%	0.03%
BWA	D	0.23%	0.19%	0.19%
CABO	F	0.02%	0.13%	0.02%
CADE	C	0.17%	0.16%	0.16%
CAL	F	0.02%	0.07%	0.02%
CATY	C	0.09%	0.09%	0.09%
CC	F	0.09%	0.03%	0.03%
CFFN	D	0.02%	0.05%	0.02%
CFR	C	0.19%	0.03%	0.03%
CG	D	0.28%	0.04%	0.04%
CHGG	F	0.0%	0.19%	0.0%
CHRD	F	0.26%	0.26%	0.26%
CLF	F	0.18%	0.2%	0.18%
CMA	B	0.22%	0.14%	0.14%
CMC	D	0.18%	0.15%	0.15%
CNDT	C	0.02%	0.05%	0.02%
CNO	B	0.11%	0.04%	0.04%
CNXC	F	0.12%	0.27%	0.12%
COHR	C	0.17%	0.11%	0.11%
COLB	B	0.15%	0.29%	0.15%
COOP	C	0.17%	0.13%	0.13%
CRC	C	0.11%	0.17%	0.11%
CRGY	D	0.05%	0.12%	0.05%
CWK	B	0.08%	0.07%	0.07%
CXW	F	0.04%	0.08%	0.04%
DAN	F	0.04%	0.16%	0.04%
DIN	F	0.01%	0.21%	0.01%
DINO	F	0.24%	0.21%	0.21%
DK	F	0.04%	0.05%	0.04%
DLX	D	0.03%	0.15%	0.03%
DNB	C	0.12%	0.05%	0.05%
DTM	B	0.22%	0.17%	0.17%
DXC	C	0.11%	0.23%	0.11%
EAT	A	0.09%	0.18%	0.09%
EBC	B	0.1%	0.12%	0.1%
EGBN	C	0.01%	0.13%	0.01%
EIG	C	0.04%	0.02%	0.02%
ELAN	D	0.22%	0.15%	0.15%
EMBC	C	0.03%	0.07%	0.03%
EMN	B	0.35%	0.09%	0.09%
ENS	D	0.12%	0.03%	0.03%
EPC	F	0.06%	0.03%	0.03%
EQH	C	0.41%	0.08%	0.08%
ESGR	D	0.12%	0.24%	0.12%
ESI	D	0.17%	0.03%	0.03%
ESNT	B	0.19%	0.44%	0.19%
ETWO	C	0.03%	0.05%	0.03%
EWBC	D	0.34%	0.08%	0.08%
FAF	B	0.18%	0.07%	0.07%
FCF	C	0.05%	0.11%	0.05%
FCNCA	D	0.65%	0.13%	0.13%
FDP	C	0.03%	0.09%	0.03%
FFBC	D	0.07%	0.2%	0.07%
FHN	D	0.27%	0.18%	0.18%
FIBK	B	0.08%	0.07%	0.07%
FNB	C	0.16%	0.21%	0.16%
FRME	D	0.07%	0.08%	0.07%
FULT	D	0.1%	0.15%	0.1%
FWRD	C	0.01%	0.09%	0.01%
GATX	D	0.15%	0.05%	0.05%
GBX	C	0.04%	0.02%	0.02%
GEF	D	0.0%	0.05%	0.0%
GEF	D	0.04%	0.05%	0.04%
GHC	B	0.07%	0.05%	0.05%
GIII	C	0.03%	0.15%	0.03%
GL	C	0.28%	0.07%	0.07%
GNW	B	0.09%	0.12%	0.09%
GPI	B	0.14%	0.17%	0.14%
GPK	B	0.27%	0.06%	0.06%
GT	F	0.07%	0.2%	0.07%
GTES	C	0.12%	0.3%	0.12%
HAIN	D	0.02%	0.15%	0.02%
HBI	B	0.06%	0.1%	0.06%
HCC	F	0.09%	0.08%	0.08%
HII	D	0.33%	0.11%	0.11%
HLF	F	0.02%	0.14%	0.02%
HOG	C	0.13%	0.17%	0.13%
HOMB	B	0.15%	0.02%	0.02%
HOPE	B	0.04%	0.17%	0.04%
HRB	C	0.26%	0.17%	0.17%
HUBG	C	0.08%	0.04%	0.04%
HWC	D	0.14%	0.2%	0.14%
IART	F	0.04%	0.04%	0.04%
INDB	C	0.08%	0.06%	0.06%
INGR	B	0.26%	0.16%	0.16%
INSW	D	0.04%	0.31%	0.04%
IVZ	B	0.21%	0.18%	0.18%
JACK	F	0.01%	0.18%	0.01%
JAZZ	D	0.2%	0.16%	0.16%
JEF	B	0.26%	0.23%	0.23%
JELD	D	0.04%	0.08%	0.04%
JHG	B	0.14%	0.07%	0.07%
JLL	B	0.36%	0.14%	0.14%
JXN	A	0.2%	0.09%	0.09%
KBH	A	0.16%	0.23%	0.16%
KELYA	D	0.02%	0.05%	0.02%
KFY	B	0.11%	0.07%	0.07%
KNX	C	0.24%	0.2%	0.2%
KOP	F	0.02%	0.13%	0.02%
KRO	D	0.01%	0.03%	0.01%
LC	D	0.04%	0.04%	0.04%
LEA	F	0.19%	0.16%	0.16%
LEG	D	0.05%	0.21%	0.05%
LKQ	F	0.16%	0.08%	0.08%
LNC	D	0.16%	0.35%	0.16%
LZB	C	0.05%	0.16%	0.05%
M	F	0.13%	0.19%	0.13%
MAN	C	0.1%	0.13%	0.1%
MATV	C	0.03%	0.08%	0.03%
MATW	F	0.02%	0.05%	0.02%
MATX	B	0.13%	0.33%	0.13%
MD	C	0.03%	0.15%	0.03%
MDU	C	0.15%	0.18%	0.15%
MHK	C	0.25%	0.4%	0.25%
MLI	A	0.23%	0.19%	0.19%
MLKN	D	0.06%	0.09%	0.06%
MOS	F	0.27%	0.19%	0.19%
MTG	B	0.2%	0.3%	0.2%
MTH	A	0.2%	0.21%	0.2%
MUR	F	0.16%	0.21%	0.16%
NAVI	C	0.04%	0.14%	0.04%
NBHC	D	0.05%	0.03%	0.03%
NBTB	D	0.06%	0.08%	0.06%
NMRK	A	0.05%	0.14%	0.05%
NNI	B	0.03%	0.09%	0.03%
NTCT	C	0.04%	0.07%	0.04%
NUS	F	0.01%	0.14%	0.01%
NVST	D	0.09%	0.16%	0.09%
NWBI	C	0.05%	0.08%	0.05%
NWL	C	0.08%	0.21%	0.08%
NX	F	0.03%	0.1%	0.03%
NXST	D	0.16%	0.06%	0.06%
OC	D	0.43%	0.08%	0.08%
ODP	F	0.03%	0.1%	0.03%
OFG	C	0.06%	0.06%	0.06%
OGN	D	0.17%	0.23%	0.17%
OI	D	0.06%	0.23%	0.06%
OLN	D	0.15%	0.15%	0.15%
OLPX	C	0.01%	0.03%	0.01%
OMCL	C	0.06%	0.07%	0.06%
OMF	D	0.17%	0.14%	0.14%
OMI	D	0.03%	0.11%	0.03%
ONB	C	0.19%	0.27%	0.19%
ORI	B	0.26%	0.13%	0.13%
OVV	F	0.34%	0.2%	0.2%
OXM	F	0.04%	0.02%	0.02%
OZK	D	0.14%	0.13%	0.13%
PB	B	0.2%	0.17%	0.17%
PBF	F	0.1%	0.36%	0.1%
PCRX	F	0.01%	0.06%	0.01%
PENN	D	0.08%	0.07%	0.07%
PFS	B	0.07%	0.15%	0.07%
PFSI	C	0.08%	0.05%	0.05%
PHIN	B	0.06%	0.1%	0.06%
PINC	C	0.06%	0.15%	0.06%
PNFP	B	0.11%	0.1%	0.1%
PPBI	D	0.07%	0.11%	0.07%
PPC	D	0.05%	0.05%	0.05%
PR	F	0.12%	0.14%	0.12%
PRGO	D	0.12%	0.2%	0.12%
PTEN	F	0.11%	0.17%	0.11%
PUMP	D	0.02%	0.14%	0.02%
PVH	F	0.16%	0.17%	0.16%
QRVO	F	0.16%	0.15%	0.15%
R	A	0.18%	0.41%	0.18%
RDN	C	0.16%	0.28%	0.16%
RDUS	D	0.01%	0.04%	0.01%
REVG	D	0.05%	0.09%	0.05%
REZI	D	0.08%	0.16%	0.08%
RGA	C	0.43%	0.05%	0.05%
RNG	F	0.08%	0.15%	0.08%
RNR	C	0.4%	0.14%	0.14%
RNST	D	0.06%	0.15%	0.06%
RRC	D	0.2%	0.06%	0.06%
RRX	C	0.33%	0.11%	0.11%
RS	D	0.48%	0.02%	0.02%
RUSHA	C	0.1%	0.06%	0.06%
SAIC	C	0.2%	0.1%	0.1%
SANM	D	0.11%	0.08%	0.08%
SBH	B	0.04%	0.14%	0.04%
SCHL	D	0.02%	0.09%	0.02%
SCSC	D	0.03%	0.09%	0.03%
SEB	D	0.02%	0.17%	0.02%
SF	A	0.25%	0.14%	0.14%
SFNC	B	0.07%	0.04%	0.04%
SIG	C	0.1%	0.18%	0.1%
SKYW	C	0.09%	0.18%	0.09%
SLM	D	0.14%	0.04%	0.04%
SM	F	0.08%	0.27%	0.08%
SNDR	B	0.03%	0.16%	0.03%
SNV	C	0.19%	0.24%	0.19%
SNX	D	0.23%	0.19%	0.19%
SON	C	0.16%	0.15%	0.15%
SSB	B	0.22%	0.1%	0.1%
SSP	F	0.0%	0.07%	0.0%
ST	D	0.17%	0.18%	0.17%
STBA	B	0.05%	0.23%	0.05%
STLD	F	0.26%	0.16%	0.16%
SWI	B	0.02%	0.03%	0.02%
TAP	D	0.28%	0.3%	0.28%
TDS	C	0.06%	0.18%	0.06%
TEX	F	0.11%	0.13%	0.11%
TGNA	D	0.07%	0.2%	0.07%
THG	B	0.14%	0.04%	0.04%
TKR	D	0.16%	0.1%	0.1%
TMHC	A	0.2%	0.3%	0.2%
TNL	D	0.09%	0.23%	0.09%
TOL	B	0.44%	0.16%	0.16%
TOWN	B	0.07%	0.13%	0.07%
TPH	C	0.12%	0.23%	0.12%
TPR	C	0.28%	0.04%	0.04%
TRMK	C	0.05%	0.13%	0.05%
TROX	F	0.05%	0.24%	0.05%
TTEC	F	0.0%	0.05%	0.0%
TTMI	D	0.06%	0.31%	0.06%
UA	D	0.04%	0.11%	0.04%
UBSI	B	0.15%	0.08%	0.08%
UCBI	B	0.11%	0.02%	0.02%
UFPI	C	0.21%	0.11%	0.11%
UHAL	A	0.02%	0.21%	0.02%
UHAL	A	0.19%	0.21%	0.19%
UHS	B	0.4%	0.18%	0.18%
UNFI	C	0.03%	0.16%	0.03%
UNM	B	0.26%	0.39%	0.26%
UTHR	C	0.47%	0.23%	0.23%
UVV	D	0.04%	0.04%	0.04%
VAC	F	0.07%	0.1%	0.07%
VGR	B	0.06%	0.12%	0.06%
VLY	C	0.11%	0.19%	0.11%
VREX	F	0.01%	0.02%	0.01%
VRNT	F	0.05%	0.05%	0.05%
VSH	F	0.07%	0.09%	0.07%
WAFD	C	0.09%	0.19%	0.09%
WAL	B	0.25%	0.15%	0.15%
WBS	D	0.24%	0.25%	0.24%
WCC	D	0.25%	0.15%	0.15%
WERN	D	0.07%	0.04%	0.04%
WMK	C	0.03%	0.03%	0.03%
WNC	F	0.02%	0.08%	0.02%
WSBC	D	0.05%	0.16%	0.05%
WWW	B	0.03%	0.22%	0.03%
XRAY	D	0.15%	0.06%	0.06%
XRX	D	0.04%	0.13%	0.04%
ZD	D	0.07%	0.15%	0.07%
ZION	D	0.21%	0.16%	0.16%

VBR Overweight 501 Positions Relative to VFVA

Symbol	Grade	Weight
SW	B	0.72%
BAH	C	0.6%
CSL	B	0.59%
ATO	B	0.54%
EME	B	0.54%
NRG	C	0.52%
THC	A	0.48%
IEX	D	0.46%
KIM	C	0.46%
RPM	B	0.44%
USFD	B	0.43%
PNR	B	0.43%
ACM	B	0.4%
WSM	D	0.4%
KMX	D	0.39%
CPT	B	0.39%
GLPI	C	0.39%
REG	C	0.39%
JBL	D	0.37%
JNPR	B	0.37%
TTEK	C	0.37%
ALLE	B	0.36%
IPG	C	0.36%
FFIV	B	0.35%
BRO	C	0.35%
ITT	B	0.34%
CHRW	B	0.34%
TFX	C	0.34%
PFGC	B	0.34%
RIVN	F	0.33%
NVT	D	0.33%
HUBB	B	0.32%
SCI	B	0.32%
CACI	B	0.32%
CCK	A	0.32%
SFM	B	0.31%
BJ	D	0.31%
BXP	B	0.31%
LDOS	B	0.31%
ATR	B	0.3%
AIZ	B	0.3%
OHI	B	0.29%
PNW	C	0.29%
EHC	C	0.28%
DKS	D	0.28%
FRT	C	0.28%
AFG	B	0.28%
WTRG	D	0.28%
ARMK	B	0.28%
MUSA	D	0.28%
HSIC	C	0.27%
PRI	B	0.27%
CHK	D	0.27%
KBR	D	0.27%
Z	B	0.26%
DCI	C	0.26%
APG	D	0.26%
SOLV	C	0.26%
EGP	B	0.26%
HAS	B	0.26%
EVR	A	0.25%
NYT	C	0.25%
FLR	D	0.25%
NNN	C	0.25%
MKSI	F	0.24%
AXTA	B	0.24%
FMC	C	0.24%
FCN	D	0.24%
BRX	B	0.24%
LAD	D	0.24%
X	F	0.23%
CR	C	0.23%
CRUS	D	0.23%
DOC	C	0.23%
AYI	B	0.23%
AIT	A	0.23%
OGE	C	0.23%
SEIC	C	0.23%
ADC	C	0.22%
STAG	C	0.22%
GME	F	0.22%
NI	B	0.22%
AGNC	B	0.22%
CBSH	C	0.22%
FR	B	0.22%
ANF	D	0.22%
KEX	C	0.21%
SWN	D	0.21%
OSK	F	0.21%
G	C	0.21%
NSIT	D	0.21%
VOYA	B	0.21%
FYBR	C	0.21%
ACHC	C	0.21%
WTFC	B	0.21%
DVA	B	0.21%
RLI	B	0.2%
BIO	C	0.2%
ACI	F	0.2%
MSA	D	0.2%
XPO	D	0.19%
VFC	C	0.19%
EVRG	B	0.19%
MAT	C	0.19%
FLS	D	0.19%
ESAB	C	0.18%
AES	C	0.18%
RHI	D	0.18%
STWD	B	0.18%
LPX	B	0.18%
RL	C	0.18%
MOG.A	B	0.17%
AN	D	0.17%
BECN	D	0.17%
AA	D	0.17%
VMI	D	0.17%
SJM	C	0.17%
CBT	B	0.17%
VNO	B	0.17%
LUMN	C	0.16%
UGI	C	0.16%
GBCI	B	0.16%
WTS	C	0.16%
VNT	F	0.16%
THO	D	0.16%
VVV	D	0.16%
GAP	F	0.16%
KD	D	0.16%
WHR	D	0.16%
NFG	B	0.16%
SRCL	A	0.16%
LAMR	B	0.16%
EPAM	F	0.16%
SIGI	D	0.16%
PARA	F	0.16%
SUM	D	0.15%
SWX	C	0.15%
POR	C	0.15%
AM	C	0.15%
SEE	D	0.15%
IDA	C	0.15%
CTLT	B	0.15%
FUL	C	0.14%
BCO	B	0.14%
KRC	B	0.13%
ASH	D	0.13%
CUZ	B	0.13%
ITGR	A	0.13%
BDC	B	0.13%
SLG	B	0.13%
FLO	C	0.13%
FFIN	B	0.13%
ACA	B	0.13%
KNF	B	0.13%
MDGL	F	0.13%
AVNT	B	0.13%
ZWS	A	0.13%
WTM	D	0.13%
PII	D	0.13%
NJR	B	0.13%
PSN	B	0.13%
RYN	C	0.13%
PIPR	B	0.13%
LYFT	D	0.12%
SBRA	C	0.12%
TPG	B	0.12%
CNX	B	0.12%
UMBF	B	0.12%
BKH	B	0.12%
WU	F	0.12%
AGO	C	0.12%
CPRI	D	0.12%
KTB	B	0.12%
SLGN	B	0.12%
AUR	B	0.12%
EPR	B	0.11%
MTZ	B	0.11%
BGC	B	0.11%
ABM	D	0.11%
HUN	D	0.11%
AEO	F	0.11%
ALE	B	0.11%
HASI	C	0.11%
PNM	B	0.11%
MSM	D	0.11%
PBH	B	0.11%
SEM	D	0.11%
MIDD	D	0.11%
IAC	C	0.11%
KMPR	D	0.11%
ICUI	B	0.11%
NCLH	C	0.11%
OGS	B	0.11%
COTY	F	0.1%
NUVL	C	0.1%
WSFS	D	0.1%
SXT	C	0.1%
GVA	B	0.1%
SKT	B	0.1%
NWE	B	0.1%
SR	B	0.1%
RXO	D	0.1%
NHI	C	0.1%
NSP	F	0.1%
NPO	D	0.1%
FBP	C	0.1%
PAG	D	0.1%
HIW	B	0.1%
WD	A	0.1%
MAC	B	0.1%
BNL	B	0.1%
PCH	C	0.1%
GMS	D	0.1%
PLXS	A	0.1%
HL	C	0.1%
IBOC	D	0.1%
OTTR	F	0.1%
LXP	B	0.09%
IOVA	C	0.09%
FL	D	0.09%
AIN	D	0.09%
WEN	C	0.09%
GFF	D	0.09%
CNK	C	0.09%
AVA	C	0.09%
SMG	C	0.09%
AWR	B	0.09%
PK	D	0.09%
ESE	B	0.09%
BRC	C	0.09%
FHB	D	0.09%
TCBI	B	0.09%
MGEE	B	0.09%
APLE	D	0.09%
AMED	C	0.09%
AROC	D	0.09%
SYNA	F	0.09%
CBU	C	0.09%
PRK	C	0.08%
ENOV	D	0.08%
VIRT	C	0.08%
SPB	C	0.08%
LSXMK	D	0.08%
BOH	D	0.08%
MGRC	F	0.08%
DEI	B	0.08%
MPW	C	0.08%
TRN	D	0.08%
TDC	F	0.08%
FHI	A	0.08%
APAM	C	0.08%
WLK	D	0.08%
POST	C	0.08%
ADTN	D	0.08%
CACC	F	0.08%
UNF	C	0.08%
IOSP	D	0.08%
PRIM	B	0.08%
AIR	C	0.07%
PECO	B	0.07%
LAUR	C	0.07%
CRI	D	0.07%
HI	F	0.07%
AKR	B	0.07%
ENR	D	0.07%
MC	B	0.07%
AZZ	D	0.07%
URBN	F	0.07%
CWEN	C	0.07%
MTRN	F	0.07%
OUT	C	0.07%
HNI	C	0.07%
OSIS	D	0.07%
DY	B	0.07%
MYGN	C	0.07%
ABR	B	0.07%
CVBF	D	0.07%
MTX	D	0.07%
KRYS	D	0.07%
UE	B	0.07%
PRGS	C	0.07%
BXMT	C	0.07%
COMP	C	0.07%
AZTA	F	0.07%
KAR	D	0.06%
HURN	C	0.06%
GOLF	D	0.06%
IVT	B	0.06%
ZG	B	0.06%
PRG	B	0.06%
VIAV	D	0.06%
B	D	0.06%
BANF	B	0.06%
THS	C	0.06%
LITE	B	0.06%
JOBY	F	0.06%
GNL	C	0.06%
WLY	C	0.06%
SFBS	B	0.06%
AMN	F	0.06%
MIR	D	0.06%
IMVT	D	0.06%
KMT	B	0.06%
KSS	F	0.06%
IBTX	B	0.06%
SPR	D	0.06%
FTRE	D	0.06%
NATL	D	0.06%
EQC	C	0.06%
HAYW	C	0.06%
SXI	C	0.06%
CTRE	C	0.06%
SHO	C	0.06%
STRA	F	0.06%
BLKB	C	0.06%
JWN	C	0.06%
PSMT	B	0.06%
CDE	C	0.06%
EVTC	D	0.06%
SATS	C	0.06%
GTY	B	0.05%
SHOO	B	0.05%
KN	D	0.05%
INFA	D	0.05%
LTC	C	0.05%
JBGS	C	0.05%
STEP	B	0.05%
JBLU	D	0.05%
REYN	C	0.05%
SCL	D	0.05%
CHCO	B	0.05%
LRN	B	0.05%
GO	F	0.05%
CENTA	F	0.05%
IDCC	B	0.05%
DRH	C	0.05%
VSAT	F	0.05%
NHC	D	0.05%
GEO	F	0.05%
CAKE	C	0.05%
LGND	C	0.05%
PDCO	F	0.05%
MCY	D	0.05%
SUPN	C	0.05%
VSCO	C	0.05%
VSTS	D	0.05%
ROIC	B	0.05%
IPGP	F	0.05%
EDR	A	0.05%
SCS	D	0.04%
PBI	D	0.04%
PDM	B	0.04%
AIV	B	0.04%
KFRC	D	0.04%
PMT	C	0.04%
VCTR	B	0.04%
AAT	B	0.04%
SAFT	D	0.04%
WS	D	0.04%
MSGE	B	0.04%
HELE	D	0.04%
BKE	B	0.04%
BKD	D	0.04%
WABC	D	0.04%
CAR	F	0.04%
PWSC	C	0.04%
CODI	D	0.04%
CSGS	C	0.04%
WOR	D	0.04%
DNOW	D	0.04%
SPNT	C	0.04%
LADR	B	0.04%
ESRT	B	0.04%
VRTS	F	0.04%
NGVT	D	0.04%
ALEX	B	0.04%
HP	F	0.04%
UAA	C	0.04%
BHE	D	0.04%
HMN	D	0.04%
RRR	D	0.04%
APOG	B	0.04%
HEES	D	0.04%
HTH	C	0.04%
ARI	F	0.04%
BLMN	F	0.04%
NWN	C	0.04%
DNUT	D	0.03%
BDN	B	0.03%
CGON	C	0.03%
FG	D	0.03%
PRAA	D	0.03%
CBRL	D	0.03%
LGF.A	F	0.03%
CVI	F	0.03%
LEVI	C	0.03%
MMI	C	0.03%
CWEN	C	0.03%
RBRK	D	0.03%
CMTG	D	0.03%
SIRI	C	0.03%
FA	B	0.03%
UNIT	C	0.03%
RWT	B	0.03%
RKLB	C	0.03%
HTLF	B	0.03%
INVA	B	0.03%
DDS	F	0.03%
TRS	D	0.03%
VSTO	C	0.03%
THR	D	0.03%
MRC	D	0.03%
CNNE	D	0.03%
DBRG	D	0.03%
AVNS	B	0.03%
CSR	B	0.03%
CARS	D	0.03%
ECPG	D	0.03%
KALU	F	0.03%
HE	F	0.03%
TILE	B	0.02%
HTLD	D	0.02%
FOR	C	0.02%
MXL	F	0.02%
KREF	B	0.02%
SMR	D	0.02%
GES	F	0.02%
HY	F	0.02%
SMMT	C	0.02%
PRA	C	0.02%
TMP	C	0.02%
AMC	F	0.02%
USM	C	0.02%
XHR	B	0.02%
HPP	D	0.02%
RGR	D	0.02%
HLIO	D	0.02%
BASE	F	0.02%
ECVT	F	0.02%
ASTE	D	0.02%
MNRO	D	0.02%
PRLB	F	0.02%
SVC	D	0.02%
BRSP	D	0.02%
PZZA	D	0.02%
PEB	D	0.02%
HCSG	C	0.02%
SAH	D	0.02%
EYE	F	0.02%
MEI	D	0.01%
UFCS	D	0.01%
PACB	D	0.01%
OPK	C	0.01%
NPK	D	0.01%
WOOF	C	0.01%
BRCC	F	0.01%
ALX	B	0.01%
ZIP	D	0.01%
DJT	F	0.01%
CRCT	C	0.01%
TGI	F	0.01%
SRCL	A	0.01%
TRTX	C	0.01%
EE	B	0.01%
RUSHB	C	0.01%
SWBI	F	0.01%
HTZ	F	0.01%
NAPA	F	0.01%
CENT	F	0.01%
BJRI	D	0.01%
WRLD	D	0.01%
INN	A	0.01%
CMP	D	0.01%
RMR	C	0.01%
VMEO	C	0.01%
AMK	B	0.01%
ATUS	C	0.01%
GRC	D	0.01%
NABL	D	0.01%
PTVE	D	0.01%
UDMY	D	0.01%
DAWN	D	0.01%
TWKS	C	0.01%
CCO	C	0.01%
CWH	C	0.01%
GCMG	B	0.01%
CLB	D	0.01%
USNA	F	0.01%
CLBK	C	0.01%
NVRI	D	0.01%
LGF.A	F	0.01%
BFS	B	0.01%
AMBC	D	0.01%
SCWX	C	0.0%
AC	C	0.0%
CRNC	F	0.0%
SAVE	F	0.0%
ACDC	F	0.0%
UHT	B	0.0%
DBI	F	0.0%
LDI	C	0.0%

VBR Underweight 264 Positions Relative to VFVA

Symbol	Grade	Weight
MO	C	-1.17%
GM	C	-1.11%
T	C	-1.09%
FDX	C	-1.09%
CVS	D	-1.02%
F	F	-0.99%
VZ	B	-0.99%
CMCSA	D	-0.98%
BAC	D	-0.88%
PSX	F	-0.86%
VLO	F	-0.86%
C	C	-0.84%
TFC	C	-0.83%
CVX	D	-0.77%
BMY	C	-0.76%
WFC	D	-0.74%
MPC	F	-0.7%
COF	B	-0.69%
HCA	B	-0.69%
USB	B	-0.69%
XOM	C	-0.68%
CI	C	-0.67%
PFE	C	-0.65%
EOG	D	-0.65%
JPM	D	-0.64%
NUE	F	-0.63%
AIG	D	-0.58%
GILD	B	-0.58%
OXY	F	-0.54%
COP	D	-0.54%
HPQ	D	-0.5%
CB	B	-0.49%
MET	B	-0.49%
MCK	F	-0.48%
TRV	C	-0.47%
BK	B	-0.47%
GS	C	-0.46%
PRU	C	-0.45%
ADM	D	-0.44%
FCX	D	-0.44%
MDT	C	-0.41%
SYF	C	-0.4%
FOX	B	-0.39%
FANG	D	-0.39%
WMB	B	-0.36%
PRDO	D	-0.34%
CAH	C	-0.34%
MS	D	-0.34%
CE	F	-0.33%
PHM	B	-0.33%
LYB	D	-0.33%
PNC	B	-0.31%
UAL	C	-0.29%
TMUS	C	-0.29%
CAG	C	-0.28%
SLB	F	-0.28%
GD	B	-0.28%
AZO	D	-0.28%
HUM	F	-0.27%
HPE	D	-0.27%
LEN	B	-0.26%
DHI	B	-0.26%
TNK	F	-0.26%
ALGT	F	-0.26%
FIS	B	-0.25%
STNG	D	-0.25%
INTC	F	-0.25%
CTRA	D	-0.24%
VTRS	D	-0.23%
KR	C	-0.22%
LILAK	D	-0.22%
MBUU	D	-0.22%
GPOR	D	-0.22%
KHC	C	-0.21%
LEN	B	-0.21%
DAL	C	-0.21%
EFSC	B	-0.2%
CCS	B	-0.2%
PYPL	B	-0.2%
ACGL	C	-0.2%
OCFC	B	-0.2%
DOW	D	-0.2%
ASC	D	-0.2%
CLW	F	-0.2%
ALL	B	-0.19%
RPRX	C	-0.19%
JNJ	C	-0.19%
DAR	F	-0.19%
GIS	B	-0.19%
GNK	D	-0.19%
BYD	C	-0.18%
SNCY	D	-0.18%
CCSI	C	-0.18%
MTB	B	-0.18%
CFG	C	-0.18%
CIVI	F	-0.18%
NWSA	D	-0.18%
KEY	B	-0.18%
SLVM	B	-0.17%
CNC	D	-0.17%
GTN	D	-0.17%
AHCO	C	-0.17%
MTDR	F	-0.17%
GLNG	C	-0.17%
IBM	B	-0.16%
ADNT	F	-0.16%
PARR	F	-0.15%
IMKTA	D	-0.15%
XPOF	D	-0.15%
BDX	D	-0.15%
CUBI	F	-0.15%
BZH	B	-0.15%
BRY	F	-0.15%
PLTK	C	-0.15%
BXC	D	-0.15%
MHO	B	-0.15%
CSCO	C	-0.14%
PEBO	C	-0.14%
BELFB	B	-0.14%
HLX	F	-0.14%
MCB	C	-0.14%
DHT	D	-0.14%
IRWD	F	-0.14%
VBTX	B	-0.13%
PM	C	-0.13%
FNF	B	-0.13%
BUSE	C	-0.13%
RTX	C	-0.13%
JRVR	F	-0.13%
TPC	C	-0.13%
TWI	D	-0.12%
DCOM	B	-0.12%
STC	B	-0.12%
BANC	B	-0.12%
TGT	C	-0.12%
SPTN	C	-0.12%
PATK	B	-0.12%
COMM	C	-0.12%
EG	C	-0.12%
SCHW	D	-0.12%
HRI	D	-0.11%
SB	D	-0.11%
CF	C	-0.11%
NAT	D	-0.11%
PAGS	F	-0.11%
KMI	B	-0.11%
EQT	D	-0.11%
RF	B	-0.11%
APPS	D	-0.11%
EVRI	C	-0.11%
CEIX	D	-0.11%
TXT	D	-0.1%
GDOT	C	-0.1%
SXC	F	-0.1%
HOV	C	-0.1%
VTOL	D	-0.1%
AFL	C	-0.1%
TRST	C	-0.1%
GRBK	B	-0.1%
ASIX	C	-0.1%
DOLE	A	-0.1%
NTB	C	-0.1%
CMRE	D	-0.1%
SFL	F	-0.1%
RYI	D	-0.1%
UVE	C	-0.09%
RJF	C	-0.09%
TCBK	D	-0.09%
GOGL	D	-0.09%
DBX	D	-0.09%
MTUS	F	-0.09%
CNA	C	-0.09%
SASR	B	-0.09%
RPAY	F	-0.08%
FFWM	D	-0.08%
SD	D	-0.08%
DE	B	-0.08%
PCAR	D	-0.08%
ELV	C	-0.08%
HFWA	C	-0.08%
RMAX	C	-0.08%
SRCE	C	-0.08%
NOG	D	-0.08%
MTW	F	-0.08%
INMD	D	-0.07%
PFC	C	-0.07%
CROX	D	-0.07%
HBAN	B	-0.07%
DXPE	C	-0.07%
RGP	F	-0.07%
BOOM	D	-0.07%
QCOM	D	-0.07%
SNEX	B	-0.07%
GOOG	D	-0.07%
NIC	C	-0.07%
HIG	B	-0.07%
LPG	F	-0.07%
HAFC	C	-0.07%
SSNC	B	-0.07%
ACCO	C	-0.07%
NMIH	B	-0.07%
LILA	D	-0.06%
CCRN	F	-0.06%
MMM	B	-0.06%
TITN	F	-0.06%
SMP	C	-0.06%
OIS	D	-0.06%
PFG	B	-0.06%
CNOB	B	-0.06%
BEN	F	-0.06%
KOS	F	-0.06%
LBRT	D	-0.06%
EGY	D	-0.06%
LXU	D	-0.05%
TALO	D	-0.05%
MOV	F	-0.05%
MCFT	F	-0.05%
HVT	D	-0.05%
IIIN	D	-0.05%
FBMS	B	-0.05%
TK	C	-0.05%
AMR	F	-0.05%
REX	D	-0.05%
GCO	D	-0.05%
PLAB	F	-0.05%
KODK	D	-0.04%
FBNC	B	-0.04%
DGX	B	-0.04%
BBW	C	-0.04%
ENVA	C	-0.04%
MKL	C	-0.04%
FOXF	D	-0.04%
BY	C	-0.04%
EBAY	B	-0.04%
HGV	F	-0.04%
OBK	D	-0.04%
HBNC	B	-0.04%
REPX	D	-0.04%
ZEUS	F	-0.04%
BW	D	-0.04%
STNE	F	-0.03%
IMMR	D	-0.03%
PFBC	D	-0.03%
SCVL	B	-0.03%
UIS	C	-0.03%
QCRH	B	-0.03%
TBRG	C	-0.03%
DENN	D	-0.03%
BALY	B	-0.03%
NFBK	C	-0.03%
AMAL	B	-0.03%
WTTR	D	-0.03%
DRVN	C	-0.03%
DVN	F	-0.02%
GPN	D	-0.02%
STT	A	-0.02%
MED	F	-0.02%
RYAM	B	-0.02%
CRBG	D	-0.02%
IP	B	-0.02%
ZIMV	F	-0.02%
HRTG	C	-0.01%
AMPY	D	-0.01%
FF	C	-0.01%