VCLT vs. ICAP ETF Comparison

Comparison of Vanguard Long-Term Corporate Bond ETF (VCLT) to InfraCap Equity Income Fund ETF (ICAP)

VCLT

Vanguard Long-Term Corporate Bond ETF

VCLT Description

The investment seeks to track the performance of a market-weighted corporate bond index with a long-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 10+ Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities greater than 10 years. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$76.60

Average Daily Volume

2,396,634

Number of Holdings ^*

339

* may have additional holdings in another (foreign) market

ICAP

InfraCap Equity Income Fund ETF

ICAP Description

The investment seeks to maximize income and pursue total return opportunities. The fund, under normal conditions, will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of companies that pay dividends during normal market conditions. The fund will invest primarily in securities of U.S. companies, but may invest in foreign securities, including securities of companies located in emerging markets. To obtain high yield and total return, the adviser will favor sectors and industries that it currently views are undervalued on a relative basis.

Grade (RS Rating)

Last Trade

$27.74

Average Daily Volume

7,899

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	VCLT	ICAP
30 Days	-1.09%	1.03%
60 Days	-5.46%	3.08%
90 Days	-3.85%	6.32%
12 Months	8.09%	31.00%

54 Overlapping Holdings

Symbol	Grade	Weight in VCLT	Weight in ICAP	Overlap
AES	F	0.01%	3.2%	0.01%
AMT	C	0.03%	0.55%	0.03%
AMZN	C	0.05%	3.87%	0.05%
ARE	F	0.01%	2.06%	0.01%
AVGO	D	0.04%	1.95%	0.04%
BAC	A	0.02%	3.05%	0.02%
BXP	C	0.01%	3.13%	0.01%
C	A	0.01%	4.23%	0.01%
CAT	B	0.01%	0.68%	0.01%
CCI	C	0.02%	1.07%	0.02%
CFG	B	0.03%	3.15%	0.03%
CSCO	B	0.07%	0.5%	0.07%
CVX	A	0.02%	4.14%	0.02%
D	C	0.01%	0.01%	0.01%
DOW	F	0.02%	1.17%	0.02%
DUK	C	0.01%	0.21%	0.01%
EIX	B	0.01%	1.67%	0.01%
EQIX	A	0.01%	4.14%	0.01%
ET	A	0.01%	0.03%	0.01%
FANG	C	0.03%	1.48%	0.03%
FITB	B	0.07%	1.06%	0.07%
FRT	B	0.01%	2.91%	0.01%
GD	D	0.01%	0.02%	0.01%
GS	A	0.01%	4.97%	0.01%
HON	C	0.01%	1.01%	0.01%
HPE	B	0.04%	0.98%	0.04%
JNJ	C	0.02%	0.08%	0.02%
JPM	A	0.01%	1.61%	0.01%
KMI	A	0.01%	1.0%	0.01%
KO	D	0.01%	0.07%	0.01%
KRC	B	0.01%	3.91%	0.01%
MCD	D	0.01%	1.58%	0.01%
MMM	D	0.01%	0.58%	0.01%
MO	A	0.01%	0.07%	0.01%
MPLX	A	0.03%	3.27%	0.03%
MRK	D	0.01%	0.85%	0.01%
MS	A	0.05%	1.98%	0.05%
MSFT	D	0.01%	0.55%	0.01%
NEE	C	0.01%	0.21%	0.01%
NEE	C	0.01%	0.26%	0.01%
O	C	0.02%	1.28%	0.02%
OKE	A	0.01%	0.19%	0.01%
ORCL	A	0.04%	3.02%	0.04%
PAA	B	0.02%	0.3%	0.02%
PM	B	0.02%	0.65%	0.02%
RTX	D	0.02%	0.62%	0.02%
SO	C	0.01%	1.27%	0.01%
SPG	A	0.01%	1.69%	0.01%
T	A	0.01%	0.18%	0.01%
UNH	B	0.01%	0.01%	0.01%
VOD	F	0.02%	1.43%	0.02%
VZ	C	0.01%	0.36%	0.01%
WMB	A	0.01%	0.01%	0.01%
XOM	B	0.02%	1.05%	0.02%

VCLT Overweight 286 Positions Relative to ICAP

Symbol	Grade	Weight
WIT	B	0.21%
DELL	B	0.11%
EQH	C	0.09%
MDT	D	0.08%
WY	F	0.07%
FOXA	A	0.07%
DD	C	0.07%
AXP	A	0.06%
COST	A	0.06%
HPQ	B	0.06%
HCA	F	0.06%
CARR	C	0.06%
CAG	F	0.05%
SCCO	F	0.05%
BIIB	F	0.05%
TAP	C	0.05%
CRM	B	0.05%
L	A	0.04%
WBA	F	0.04%
LIN	C	0.04%
NXPI	D	0.04%
DT	D	0.04%
BHF	C	0.04%
TJX	A	0.04%
GPN	B	0.04%
JNPR	D	0.04%
NEM	D	0.04%
GOOGL	C	0.04%
BHP	F	0.04%
AAPL	C	0.04%
ORI	A	0.03%
FTV	C	0.03%
AAL	B	0.03%
STE	D	0.03%
WU	F	0.03%
WEST	C	0.03%
WM	B	0.03%
NOV	C	0.03%
MLM	C	0.03%
OHI	C	0.03%
LH	B	0.03%
LEA	F	0.03%
DG	F	0.03%
CPT	B	0.03%
PKG	A	0.03%
PYPL	B	0.03%
RPM	A	0.03%
SPGI	C	0.03%
CME	B	0.03%
CF	A	0.03%
RPRX	D	0.03%
APD	A	0.03%
AMAT	F	0.03%
EBAY	D	0.03%
DVN	F	0.03%
MDLZ	F	0.03%
MAR	A	0.03%
ITW	B	0.03%
CB	C	0.03%
VLO	C	0.03%
RJF	A	0.03%
NVDA	B	0.03%
MUFG	B	0.03%
VTRS	A	0.03%
PSX	C	0.03%
ALLY	C	0.03%
INTC	C	0.03%
TMUS	B	0.03%
CHTR	C	0.03%
ABT	B	0.03%
BMY	B	0.03%
ABBV	F	0.03%
WPC	C	0.02%
PWR	A	0.02%
PECO	A	0.02%
SCHW	B	0.02%
REGN	F	0.02%
CHD	A	0.02%
ZBH	C	0.02%
STLD	B	0.02%
FE	C	0.02%
FMC	D	0.02%
BAX	F	0.02%
CMI	A	0.02%
CL	D	0.02%
CINF	A	0.02%
OGS	A	0.02%
LHX	C	0.02%
IVZ	B	0.02%
HRL	D	0.02%
HOG	D	0.02%
SBRA	C	0.02%
TEL	B	0.02%
AFG	A	0.02%
CPB	D	0.02%
VMI	B	0.02%
XYL	D	0.02%
WTRG	B	0.02%
WHR	B	0.02%
AJG	A	0.02%
AVY	F	0.02%
KSS	F	0.02%
MKC	C	0.02%
NWE	B	0.02%
MSI	B	0.02%
K	A	0.02%
LRCX	F	0.02%
GWW	B	0.02%
KLAC	F	0.02%
EMN	C	0.02%
ADI	D	0.02%
ROK	C	0.02%
PH	A	0.02%
SYK	B	0.02%
MOS	F	0.02%
NDAQ	A	0.02%
LNC	C	0.02%
FIS	C	0.02%
VRSK	A	0.02%
EG	C	0.02%
ES	C	0.02%
STZ	D	0.02%
OTIS	C	0.02%
MCO	B	0.02%
AFL	B	0.02%
CP	F	0.02%
NI	A	0.02%
TXN	C	0.02%
SWK	D	0.02%
DHR	F	0.02%
DE	B	0.02%
TGT	F	0.02%
HES	B	0.02%
UPS	C	0.02%
TSN	B	0.02%
ECL	D	0.02%
MPC	D	0.02%
HAL	C	0.02%
EPD	A	0.02%
PEP	F	0.02%
ICE	C	0.02%
MA	B	0.02%
WMT	A	0.02%
NOC	D	0.02%
MET	A	0.02%
QCOM	F	0.02%
IBM	C	0.02%
GILD	C	0.02%
CI	D	0.02%
COP	C	0.02%
PFE	F	0.02%
AZN	F	0.02%
HSBC	A	0.02%
GSK	F	0.02%
V	A	0.02%
GE	D	0.02%
HIW	C	0.01%
AGO	B	0.01%
AMH	C	0.01%
EXR	C	0.01%
BWA	D	0.01%
AVA	A	0.01%
APTV	F	0.01%
DRI	B	0.01%
ALB	B	0.01%
INGR	C	0.01%
IDA	A	0.01%
EMR	B	0.01%
MAA	B	0.01%
LXP	D	0.01%
OPI	F	0.01%
JD	D	0.01%
SIGI	C	0.01%
EA	A	0.01%
DOC	C	0.01%
ADC	A	0.01%
BEN	C	0.01%
CACC	D	0.01%
FNF	B	0.01%
PHM	D	0.01%
PFG	D	0.01%
PEG	A	0.01%
VTR	B	0.01%
OGE	A	0.01%
ESS	B	0.01%
MAS	D	0.01%
RF	A	0.01%
REG	A	0.01%
EE	A	0.01%
BKH	A	0.01%
SWX	B	0.01%
VOYA	B	0.01%
SNA	A	0.01%
DOV	A	0.01%
KIM	A	0.01%
UDR	B	0.01%
TT	A	0.01%
UAL	A	0.01%
MKL	A	0.01%
HSY	F	0.01%
IPG	D	0.01%
KOF	F	0.01%
EOG	A	0.01%
CAH	B	0.01%
WELL	A	0.01%
WRB	A	0.01%
PNW	A	0.01%
PLD	F	0.01%
SJM	D	0.01%
RSG	A	0.01%
PG	C	0.01%
DTE	C	0.01%
HIG	B	0.01%
JEF	A	0.01%
IFF	D	0.01%
HAS	D	0.01%
EVRG	A	0.01%
ETN	A	0.01%
AWK	C	0.01%
AVB	B	0.01%
UNM	A	0.01%
WEC	A	0.01%
EQR	C	0.01%
ATO	A	0.01%
AEP	C	0.01%
AEE	A	0.01%
AON	A	0.01%
ZTS	D	0.01%
SRE	A	0.01%
PGR	A	0.01%
VMC	B	0.01%
NNN	C	0.01%
NUE	C	0.01%
KDP	F	0.01%
HUM	C	0.01%
EXC	C	0.01%
CNP	A	0.01%
CMS	C	0.01%
LNT	A	0.01%
OC	A	0.01%
ACGL	C	0.01%
XEL	A	0.01%
WLK	D	0.01%
PPL	A	0.01%
GLW	B	0.01%
JCI	B	0.01%
EL	F	0.01%
ALL	A	0.01%
TRV	B	0.01%
TMO	F	0.01%
MMC	B	0.01%
LLY	F	0.01%
JBLU	F	0.01%
KR	B	0.01%
FDX	B	0.01%
CSX	C	0.01%
ED	C	0.01%
KMB	C	0.01%
ETR	B	0.01%
ADM	D	0.01%
PRU	A	0.01%
SBUX	A	0.01%
IP	A	0.01%
GIS	D	0.01%
SHW	B	0.01%
LYB	F	0.01%
MRO	B	0.01%
NSC	B	0.01%
LOW	C	0.01%
GM	C	0.01%
BSX	A	0.01%
AIG	B	0.01%
LMT	D	0.01%
SYY	D	0.01%
NKE	F	0.01%
UNP	C	0.01%
DIS	B	0.01%
BABA	D	0.01%
BDX	F	0.01%
PCG	A	0.01%
HD	B	0.01%
AMGN	F	0.01%
CMCSA	B	0.01%
WFC	A	0.01%
BA	F	0.01%
CVS	D	0.01%

VCLT Underweight 18 Positions Relative to ICAP

Symbol	Grade	Weight
MTB	A	-3.96%
SLMBP	C	-2.79%
DLR	B	-2.77%
AB	B	-2.37%
TFC	A	-2.05%
NYMTN	D	-1.95%
UGI	C	-1.83%
KHC	F	-1.82%
REXR	F	-1.7%
ARES	A	-1.47%
USB	A	-1.03%
BLMN	F	-0.98%
NWN	A	-0.74%
IRM	C	-0.63%
CTDD	B	-0.33%
EPR	C	-0.31%
RRR	F	-0.26%
UZE	B	-0.01%