VCEB vs. DYNF ETF Comparison

Comparison of Vanguard ESG U.S. Corporate Bond ETF (VCEB) to BlackRock U.S. Equity Factor Rotation ETF (DYNF)

VCEB

Vanguard ESG U.S. Corporate Bond ETF

VCEB Description

The investment seeks to track the performance of the Bloomberg Barclays MSCI US Corporate SRI Select Index (the ?index?). The index excludes bonds with maturities of 1 year or less and with less than $750 million outstanding, and is screened for certain environmental, social, and governance (ESG) criteria by the index provider, which is independent of Vanguard. All of the fund?s investments will be selected through the sampling process, and under normal circumstances, at least 80% of the fund?s assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$62.73

Average Daily Volume

37,148

Number of Holdings ^*

245

* may have additional holdings in another (foreign) market

DYNF

BlackRock U.S. Equity Factor Rotation ETF

DYNF Description

The investment seeks to outperform the investment results of the large- and mid-capitalization U.S. equity markets by providing diversified and tactical exposure to style factors via a factor rotation model. The fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets plus the amount of any borrowings for investment purposes in U.S. listed common stock of large- and mid-capitalization companies selected based on a proprietary Factor Rotation model developed by BFA and its affiliates. It is non-diversified.

Grade (RS Rating)

Last Trade

$52.15

Average Daily Volume

1,194,250

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	VCEB	DYNF
30 Days	-0.25%	3.39%
60 Days	-2.76%	5.74%
90 Days	-1.73%	7.44%
12 Months	7.45%	39.86%

42 Overlapping Holdings

Symbol	Grade	Weight in VCEB	Weight in DYNF	Overlap
AAPL	C	0.01%	7.05%	0.01%
ACGL	D	0.03%	0.4%	0.03%
AMZN	C	0.01%	4.59%	0.01%
APH	A	0.02%	0.14%	0.02%
AVGO	D	0.02%	1.5%	0.02%
AXP	A	0.01%	0.22%	0.01%
BAC	A	0.02%	3.44%	0.02%
BKNG	A	0.02%	1.64%	0.02%
BSX	B	0.01%	0.43%	0.01%
C	A	0.01%	0.26%	0.01%
CAT	B	0.01%	1.43%	0.01%
CRM	B	0.02%	1.46%	0.02%
CSCO	B	0.02%	1.44%	0.02%
DELL	C	0.01%	0.0%	0.0%
EG	C	0.03%	0.0%	0.0%
ETN	A	0.03%	1.41%	0.03%
GM	B	0.01%	0.8%	0.01%
GOOGL	C	0.02%	3.2%	0.02%
HIG	B	0.02%	1.96%	0.02%
HPE	B	0.01%	0.0%	0.0%
JNJ	D	0.01%	1.76%	0.01%
JPM	A	0.01%	2.95%	0.01%
LEN	D	0.04%	3.9%	0.04%
LLY	F	0.03%	1.05%	0.03%
MA	C	0.03%	1.82%	0.03%
MET	A	0.01%	0.0%	0.0%
MSFT	F	0.01%	7.22%	0.01%
NOW	A	0.04%	1.71%	0.04%
NVDA	C	0.01%	9.32%	0.01%
ORCL	B	0.02%	0.09%	0.02%
PG	A	0.01%	1.92%	0.01%
PGR	A	0.05%	1.79%	0.05%
PH	A	0.01%	0.53%	0.01%
QCOM	F	0.01%	0.0%	0.0%
T	A	0.01%	0.41%	0.01%
TJX	A	0.07%	0.1%	0.07%
TMUS	B	0.01%	1.76%	0.01%
TRV	B	0.02%	1.37%	0.02%
TT	A	0.02%	1.17%	0.02%
UNH	C	0.01%	2.65%	0.01%
V	A	0.02%	2.41%	0.02%
WM	A	0.01%	0.17%	0.01%

VCEB Overweight 203 Positions Relative to DYNF

Symbol	Grade	Weight
DT	C	0.19%
MTB	A	0.07%
MOS	F	0.06%
WEST	C	0.06%
DD	D	0.06%
AFL	B	0.05%
MDT	D	0.05%
EQH	B	0.05%
MCHP	D	0.04%
KMB	D	0.04%
GWW	B	0.04%
OTIS	C	0.04%
STLA	F	0.04%
AZO	C	0.04%
CTAS	B	0.04%
CPT	B	0.04%
VRSK	A	0.04%
MMC	B	0.04%
EXPE	B	0.04%
FTV	C	0.03%
EQR	B	0.03%
DGX	A	0.03%
VRSN	F	0.03%
CMA	A	0.03%
BWA	D	0.03%
BG	F	0.03%
SJM	D	0.03%
ROP	B	0.03%
RF	A	0.03%
PWR	A	0.03%
PPG	F	0.03%
DOC	D	0.03%
ORLY	B	0.03%
AMP	A	0.03%
NVR	D	0.03%
LH	C	0.03%
K	A	0.03%
IFF	D	0.03%
HAS	D	0.03%
NTRS	A	0.03%
BHF	B	0.03%
SYF	B	0.03%
CFG	B	0.03%
GIS	D	0.03%
DG	F	0.03%
WAB	B	0.03%
ITW	B	0.03%
ADP	B	0.03%
MU	D	0.03%
BDX	F	0.03%
EQIX	A	0.03%
ZBH	C	0.03%
ALLY	C	0.03%
BMY	B	0.03%
ABT	B	0.03%
VOD	F	0.03%
ABBV	D	0.03%
HUN	F	0.02%
HST	C	0.02%
HRL	D	0.02%
MKC	D	0.02%
MCK	B	0.02%
LEA	D	0.02%
AJG	B	0.02%
NTAP	C	0.02%
A	D	0.02%
QRVO	F	0.02%
RL	B	0.02%
BEN	C	0.02%
BAX	D	0.02%
VTR	C	0.02%
VMC	B	0.02%
UHS	D	0.02%
CAH	B	0.02%
XRAY	F	0.02%
CSL	C	0.02%
CMI	A	0.02%
EMN	D	0.02%
VFC	C	0.02%
CF	B	0.02%
RJF	A	0.02%
AWK	D	0.02%
O	D	0.02%
MLM	B	0.02%
HBAN	A	0.02%
BLK	C	0.02%
SWK	D	0.02%
REGN	F	0.02%
EFX	F	0.02%
DLTR	F	0.02%
DE	A	0.02%
CME	A	0.02%
WBA	F	0.02%
ADM	D	0.02%
BR	A	0.02%
SHW	A	0.02%
SBUX	A	0.02%
CPB	D	0.02%
GLW	B	0.02%
OMC	C	0.02%
NEM	D	0.02%
APD	A	0.02%
FITB	A	0.02%
BABA	D	0.02%
DB	D	0.02%
CARR	D	0.02%
IBM	C	0.02%
HCA	F	0.02%
HSBC	B	0.02%
GSK	F	0.02%
AZN	D	0.02%
CHTR	C	0.02%
VZ	C	0.02%
EXP	A	0.01%
ADI	D	0.01%
GLPI	C	0.01%
EA	A	0.01%
WB	D	0.01%
MRVL	B	0.01%
MDLZ	F	0.01%
GPN	B	0.01%
PLD	D	0.01%
AMAT	F	0.01%
MSI	B	0.01%
RSG	A	0.01%
AON	A	0.01%
BRX	A	0.01%
EBAY	D	0.01%
MMM	D	0.01%
MAR	B	0.01%
KEY	B	0.01%
RPRX	D	0.01%
ARE	D	0.01%
SCHW	B	0.01%
DLR	B	0.01%
DHR	F	0.01%
ZTS	D	0.01%
TXN	C	0.01%
NXPI	D	0.01%
KO	D	0.01%
KLAC	D	0.01%
HUM	C	0.01%
USB	A	0.01%
TSN	B	0.01%
BXP	D	0.01%
TMO	F	0.01%
BMO	A	0.01%
BK	A	0.01%
BERY	B	0.01%
STT	A	0.01%
PYPL	B	0.01%
FIS	C	0.01%
WELL	A	0.01%
CM	A	0.01%
CCI	D	0.01%
AER	B	0.01%
ADBE	C	0.01%
NKE	D	0.01%
MRK	F	0.01%
LOW	D	0.01%
KDP	D	0.01%
HPQ	B	0.01%
CB	C	0.01%
CAG	D	0.01%
BNS	A	0.01%
SYY	B	0.01%
SPG	B	0.01%
PRU	A	0.01%
AMT	D	0.01%
FDX	B	0.01%
DOW	F	0.01%
DFS	B	0.01%
PNC	B	0.01%
PFE	D	0.01%
PEP	F	0.01%
AL	B	0.01%
LUV	C	0.01%
LRCX	F	0.01%
ICE	C	0.01%
COF	B	0.01%
CI	F	0.01%
TGT	F	0.01%
TD	F	0.01%
BIIB	F	0.01%
SYK	C	0.01%
VTRS	A	0.01%
TFC	A	0.01%
AMGN	D	0.01%
NWG	C	0.01%
MUFG	B	0.01%
UPS	C	0.01%
AIG	B	0.01%
MCD	D	0.01%
INTC	D	0.01%
HD	A	0.01%
GILD	C	0.01%
RY	A	0.01%
FOXA	B	0.01%
DIS	B	0.01%
CMCSA	B	0.01%
GS	A	0.01%
MS	A	0.01%
CVS	D	0.01%

VCEB Underweight 27 Positions Relative to DYNF

Symbol	Grade	Weight
XOM	B	-4.08%
META	D	-3.85%
COST	B	-2.85%
TSLA	B	-1.89%
BRK.A	B	-1.79%
WMT	A	-1.68%
GOOG	C	-1.55%
DUK	C	-1.5%
NFLX	A	-1.06%
PCAR	B	-0.94%
GE	D	-0.77%
INTU	C	-0.51%
CVX	A	-0.32%
PHM	D	-0.26%
MPC	D	-0.22%
RTX	C	-0.16%
PANW	C	-0.02%
SO	D	-0.01%
CPNG	D	-0.0%
M	D	-0.0%
SNOW	C	-0.0%
NU	C	-0.0%
VLO	C	-0.0%
NTNX	A	-0.0%
WDAY	B	-0.0%
WTW	B	-0.0%
TRGP	B	-0.0%