VCEB vs. TCAF ETF Comparison

Comparison of Vanguard ESG U.S. Corporate Bond ETF (VCEB) to T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Capital Appreciation Equity ETF (TCAF)

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

$62.67

Average Daily Volume

37,180

Number of Holdings ^*

245

* may have additional holdings in another (foreign) market

TCAF

T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Capital Appreciation Equity ETF

TCAF Description

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in equity securities. The fund may purchase the stocks of companies of any size, but typically focuses on large U.S. companies. The fund may at times invest significantly in certain sectors, including the information technology and healthcare sectors. It is non-diversified.

Grade (RS Rating)

Last Trade

$33.85

Average Daily Volume

559,388

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	VCEB	TCAF
30 Days	-0.53%	0.89%
60 Days	-2.92%	3.04%
90 Days	-1.82%	3.87%
12 Months	7.35%	28.26%

46 Overlapping Holdings

Symbol	Grade	Weight in VCEB	Weight in TCAF	Overlap
AAPL	C	0.01%	5.34%	0.01%
ABBV	F	0.03%	0.67%	0.03%
ABT	B	0.03%	1.24%	0.03%
AJG	A	0.02%	0.62%	0.02%
AMT	C	0.01%	0.7%	0.01%
AMZN	C	0.01%	4.51%	0.01%
APH	A	0.02%	0.04%	0.02%
AVGO	D	0.02%	1.39%	0.02%
BDX	F	0.03%	2.48%	0.03%
BIIB	F	0.01%	0.53%	0.01%
BKNG	A	0.02%	0.34%	0.02%
CME	B	0.02%	0.24%	0.02%
CRM	B	0.02%	1.63%	0.02%
DHR	F	0.01%	2.63%	0.01%
DIS	B	0.01%	0.14%	0.01%
DLTR	F	0.02%	0.25%	0.02%
FTV	C	0.03%	2.71%	0.03%
GOOGL	C	0.02%	3.12%	0.02%
GS	A	0.01%	0.1%	0.01%
HUM	C	0.01%	0.55%	0.01%
ICE	C	0.01%	1.06%	0.01%
KDP	F	0.01%	0.46%	0.01%
KLAC	F	0.01%	0.12%	0.01%
LLY	F	0.03%	1.5%	0.03%
LRCX	F	0.01%	0.32%	0.01%
MA	B	0.03%	1.53%	0.03%
MAR	A	0.01%	0.28%	0.01%
MCD	D	0.01%	0.78%	0.01%
MCK	A	0.02%	1.05%	0.02%
MLM	C	0.02%	1.2%	0.02%
MMC	B	0.04%	0.98%	0.04%
MS	A	0.01%	0.2%	0.01%
MSFT	D	0.01%	8.23%	0.01%
NKE	F	0.01%	0.36%	0.01%
NVDA	B	0.01%	6.12%	0.01%
NXPI	D	0.01%	0.53%	0.01%
PNC	B	0.01%	0.1%	0.01%
ROP	B	0.03%	1.74%	0.03%
RSG	A	0.01%	0.44%	0.01%
SBUX	A	0.02%	0.38%	0.02%
SYK	B	0.01%	0.15%	0.01%
TMO	F	0.01%	0.93%	0.01%
TT	A	0.02%	0.05%	0.02%
UNH	B	0.01%	2.95%	0.01%
V	A	0.02%	1.44%	0.02%
VMC	B	0.02%	0.11%	0.02%

VCEB Overweight 199 Positions Relative to TCAF

Symbol	Grade	Weight
DT	D	0.19%
MTB	A	0.07%
TJX	A	0.07%
MOS	F	0.06%
WEST	C	0.06%
DD	C	0.06%
PGR	A	0.05%
AFL	B	0.05%
MDT	D	0.05%
EQH	C	0.05%
MCHP	F	0.04%
LEN	D	0.04%
KMB	C	0.04%
GWW	B	0.04%
OTIS	C	0.04%
NOW	A	0.04%
STLA	F	0.04%
AZO	C	0.04%
CTAS	B	0.04%
CPT	B	0.04%
VRSK	A	0.04%
EXPE	B	0.04%
EQR	C	0.03%
DGX	A	0.03%
VRSN	C	0.03%
CMA	B	0.03%
BWA	D	0.03%
BG	D	0.03%
SJM	D	0.03%
RF	A	0.03%
EG	C	0.03%
PWR	A	0.03%
PPG	F	0.03%
DOC	C	0.03%
ORLY	B	0.03%
AMP	A	0.03%
ACGL	C	0.03%
NVR	D	0.03%
LH	B	0.03%
K	A	0.03%
IFF	D	0.03%
HAS	D	0.03%
NTRS	A	0.03%
BHF	C	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	A	0.03%
MU	D	0.03%
ETN	A	0.03%
EQIX	A	0.03%
ZBH	C	0.03%
ALLY	C	0.03%
BMY	B	0.03%
VOD	F	0.03%
HUN	F	0.02%
HST	C	0.02%
HRL	D	0.02%
HIG	B	0.02%
MKC	C	0.02%
LEA	F	0.02%
NTAP	C	0.02%
A	D	0.02%
QRVO	F	0.02%
RL	C	0.02%
BEN	C	0.02%
BAX	F	0.02%
VTR	B	0.02%
UHS	D	0.02%
CAH	B	0.02%
XRAY	F	0.02%
CSL	C	0.02%
CMI	A	0.02%
EMN	C	0.02%
VFC	C	0.02%
CF	A	0.02%
RJF	A	0.02%
AWK	C	0.02%
O	C	0.02%
HBAN	A	0.02%
BLK	B	0.02%
SWK	D	0.02%
REGN	F	0.02%
TRV	B	0.02%
EFX	F	0.02%
DE	B	0.02%
WBA	F	0.02%
ADM	D	0.02%
BR	A	0.02%
SHW	B	0.02%
CPB	D	0.02%
GLW	B	0.02%
OMC	C	0.02%
NEM	D	0.02%
APD	A	0.02%
FITB	B	0.02%
BABA	D	0.02%
DB	D	0.02%
CSCO	B	0.02%
CARR	C	0.02%
IBM	C	0.02%
HCA	F	0.02%
HSBC	A	0.02%
GSK	F	0.02%
AZN	F	0.02%
ORCL	A	0.02%
BAC	A	0.02%
CHTR	C	0.02%
VZ	C	0.02%
EXP	B	0.01%
ADI	D	0.01%
GLPI	C	0.01%
EA	A	0.01%
WM	B	0.01%
WB	D	0.01%
MRVL	B	0.01%
MDLZ	F	0.01%
GPN	B	0.01%
PLD	F	0.01%
PH	A	0.01%
AMAT	F	0.01%
MSI	B	0.01%
AON	A	0.01%
BRX	A	0.01%
EBAY	D	0.01%
MMM	D	0.01%
KEY	B	0.01%
RPRX	D	0.01%
ARE	F	0.01%
SCHW	B	0.01%
DLR	B	0.01%
ZTS	D	0.01%
TXN	C	0.01%
MET	A	0.01%
KO	D	0.01%
USB	A	0.01%
TSN	B	0.01%
BXP	C	0.01%
BSX	A	0.01%
BMO	A	0.01%
BK	A	0.01%
BERY	C	0.01%
STT	B	0.01%
AXP	A	0.01%
PYPL	B	0.01%
FIS	C	0.01%
WELL	A	0.01%
CM	A	0.01%
CCI	C	0.01%
AER	A	0.01%
ADBE	C	0.01%
MRK	D	0.01%
LOW	C	0.01%
HPQ	B	0.01%
CB	C	0.01%
CAT	B	0.01%
CAG	F	0.01%
BNS	A	0.01%
SYY	D	0.01%
SPG	A	0.01%
PRU	A	0.01%
FDX	B	0.01%
DOW	F	0.01%
DFS	B	0.01%
PFE	F	0.01%
PEP	F	0.01%
AL	B	0.01%
LUV	C	0.01%
HPE	B	0.01%
GM	C	0.01%
COF	C	0.01%
CI	D	0.01%
TGT	F	0.01%
TD	D	0.01%
VTRS	A	0.01%
TFC	A	0.01%
PG	C	0.01%
AMGN	F	0.01%
NWG	A	0.01%
MUFG	B	0.01%
JNJ	C	0.01%
UPS	C	0.01%
QCOM	F	0.01%
AIG	B	0.01%
INTC	C	0.01%
HD	B	0.01%
GILD	C	0.01%
RY	A	0.01%
C	A	0.01%
FOXA	A	0.01%
CMCSA	B	0.01%
DELL	B	0.01%
JPM	A	0.01%
TMUS	B	0.01%
T	A	0.01%
CVS	D	0.01%

VCEB Underweight 47 Positions Relative to TCAF

Symbol	Grade	Weight
RVTY	F	-2.44%
META	D	-2.3%
AEE	A	-1.91%
PTC	B	-1.67%
WCN	A	-1.64%
INTU	B	-1.55%
CNP	A	-1.49%
VLTO	C	-1.49%
RTX	D	-1.47%
DTE	C	-1.31%
LIN	C	-1.24%
IR	B	-1.19%
NOC	D	-1.18%
NI	A	-1.09%
YUM	D	-1.04%
AMD	F	-1.02%
ADSK	A	-0.95%
HLT	A	-0.92%
CMS	C	-0.82%
TDY	B	-0.71%
SCI	B	-0.68%
AVTR	F	-0.67%
ELV	F	-0.67%
SBAC	D	-0.55%
GEHC	D	-0.54%
KKR	A	-0.49%
AUR	C	-0.41%
EXC	C	-0.34%
IEX	C	-0.33%
ANSS	B	-0.32%
CSX	C	-0.28%
ARGX	B	-0.26%
ACN	B	-0.25%
WTW	B	-0.21%
AME	A	-0.2%
SPGI	C	-0.2%
CMG	B	-0.16%
SLB	C	-0.15%
MSCI	C	-0.14%
CDNS	B	-0.12%
LNT	A	-0.12%
WEC	A	-0.12%
XEL	A	-0.11%
TW	A	-0.1%
INFA	D	-0.1%
BA	F	-0.09%
TYL	B	-0.06%