VCLT vs. SKOR ETF Comparison

Comparison of Vanguard Long-Term Corporate Bond ETF (VCLT) to FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR)

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

$79.07

Average Daily Volume

1,977,731

Number of Holdings ^*

340

* may have additional holdings in another (foreign) market

SKOR

FlexShares Credit-Scored US Corporate Bond Index Fund

SKOR Description

The investment seeks the price and yield performance, before fees and expenses, of the Northern Trust Credit-Scored US Corporate Bond IndexSM. The fund generally will invest at least 80% of its total assets in the securities of its underlying index. The index reflects the performance of a portfolio of US-dollar denominated bonds of companies that are considered by the index Provider to have higher credit quality, lower risk of default and the potential for higher yield, price appreciation and liquidity relative to the universe of securities comprising the Northern Trust US Investment-Grade Corporate Bond IndexSM. The fund is non-diversified

Grade (RS Rating)

Last Trade

$48.38

Average Daily Volume

27,931

Number of Holdings ^*

307

* may have additional holdings in another (foreign) market

Performance

Period	VCLT	SKOR
30 Days	3.59%	1.81%
60 Days	3.95%	2.37%
90 Days	4.74%	2.69%
12 Months	8.43%	6.94%

202 Overlapping Holdings

	Symbol	Grade	Weight in VCLT	Weight in SKOR	Overlap
	AAPL	C	0.04%	0.09%	0.04%
	ABBV	A	0.03%	0.08%	0.03%
	ADI	D	0.02%	0.15%	0.02%
	AEE	A	0.01%	0.25%	0.01%
	AEP	A	0.01%	0.02%	0.01%
	AFG	B	0.02%	0.08%	0.02%
	AFL	A	0.02%	0.04%	0.02%
	AIG	C	0.01%	0.04%	0.01%
	ALL	A	0.01%	0.15%	0.01%
	ALLY	B	0.03%	0.14%	0.03%
	AMGN	B	0.01%	0.11%	0.01%
	AMH	C	0.01%	0.08%	0.01%
	AMT	A	0.03%	0.13%	0.03%
	AMZN	D	0.05%	0.11%	0.05%
	AON	B	0.01%	0.09%	0.01%
	APD	C	0.03%	0.19%	0.03%
	ARE	D	0.01%	0.04%	0.01%
	ATO	A	0.01%	0.17%	0.01%
	AVB	A	0.01%	0.02%	0.01%
	AVGO	D	0.04%	0.04%	0.04%
	AVY	D	0.02%	0.02%	0.02%
	AWK	A	0.01%	0.07%	0.01%
	AXP	A	0.06%	0.07%	0.06%
	BA	D	0.01%	0.06%	0.01%
	BABA	B	0.01%	0.07%	0.01%
	BAC	C	0.02%	0.0%	0.0%
	BAX	C	0.02%	0.07%	0.02%
	BDX	C	0.01%	0.08%	0.01%
	BHP	F	0.04%	0.11%	0.04%
	BKH	A	0.01%	0.07%	0.01%
	BMY	B	0.03%	0.1%	0.03%
	BWA	C	0.01%	0.13%	0.01%
	BXP	B	0.01%	0.09%	0.01%
	C	B	0.01%	0.08%	0.01%
	CARR	B	0.06%	0.09%	0.06%
	CB	A	0.03%	0.1%	0.03%
	CCI	A	0.02%	0.18%	0.02%
	CFG	B	0.03%	0.07%	0.03%
	CHD	D	0.02%	0.18%	0.02%
	CHTR	B	0.03%	0.2%	0.03%
	CI	C	0.02%	0.14%	0.02%
	CL	A	0.02%	0.09%	0.02%
	CMCSA	C	0.01%	0.14%	0.01%
	CME	F	0.03%	0.12%	0.03%
	CMI	B	0.02%	0.04%	0.02%
	CMS	A	0.01%	0.08%	0.01%
	CNP	F	0.01%	0.1%	0.01%
	COST	D	0.06%	0.1%	0.06%
	CP	C	0.02%	0.01%	0.01%
	CPB	A	0.02%	0.06%	0.02%
	CPT	A	0.03%	0.07%	0.03%
	CSCO	C	0.07%	0.04%	0.04%
	CSX	B	0.01%	0.04%	0.01%
	CVS	C	0.01%	0.16%	0.01%
	D	A	0.01%	0.08%	0.01%
	DG	D	0.03%	0.16%	0.03%
	DHR	A	0.02%	0.09%	0.02%
	DIS	D	0.01%	0.09%	0.01%
	DOV	C	0.01%	0.07%	0.01%
	DOW	F	0.02%	0.17%	0.02%
	DT	F	0.04%	0.05%	0.04%
	DTE	A	0.01%	0.09%	0.01%
	DUK	A	0.01%	0.08%	0.01%
	EA	B	0.01%	0.04%	0.01%
	EBAY	A	0.03%	0.08%	0.03%
	ECL	B	0.02%	0.06%	0.02%
	ED	A	0.01%	0.11%	0.01%
	EIX	A	0.01%	0.04%	0.01%
	EMR	B	0.01%	0.07%	0.01%
	EPD	B	0.02%	0.07%	0.02%
	EQIX	B	0.01%	0.0%	0.0%
	EQR	A	0.01%	0.02%	0.01%
	ES	A	0.02%	0.04%	0.02%
	ESS	A	0.01%	0.07%	0.01%
	FITB	B	0.07%	0.09%	0.07%
	FMC	B	0.02%	0.07%	0.02%
	FNF	A	0.01%	0.03%	0.01%
	FOXA	A	0.07%	0.25%	0.07%
	FTV	F	0.03%	0.04%	0.03%
	GD	C	0.01%	0.14%	0.01%
	GILD	B	0.02%	0.13%	0.02%
	GIS	B	0.01%	0.08%	0.01%
	GM	D	0.01%	0.2%	0.01%
	GOOGL	D	0.04%	0.03%	0.03%
	GPN	D	0.04%	0.17%	0.04%
	GS	B	0.01%	0.1%	0.01%
	HCA	A	0.06%	0.03%	0.03%
	HD	C	0.01%	0.0%	0.0%
	HIW	A	0.01%	0.04%	0.01%
	HON	D	0.01%	0.04%	0.01%
	HPQ	C	0.06%	0.07%	0.06%
	HSBC	D	0.02%	0.07%	0.02%
	HUM	D	0.01%	0.12%	0.01%
	IBM	B	0.02%	0.09%	0.02%
	INTC	F	0.03%	0.12%	0.03%
	ITW	C	0.03%	0.07%	0.03%
	JEF	B	0.01%	0.08%	0.01%
	JNJ	B	0.02%	0.18%	0.02%
	JPM	B	0.01%	0.01%	0.01%
	K	A	0.02%	0.11%	0.02%
	KDP	A	0.01%	0.08%	0.01%
	KIM	A	0.01%	0.04%	0.01%
	KLAC	D	0.02%	0.08%	0.02%
	KMB	B	0.01%	0.08%	0.01%
	KMI	B	0.01%	0.28%	0.01%
	KO	A	0.01%	0.08%	0.01%
	KRC	C	0.01%	0.04%	0.01%
	LEA	C	0.03%	0.08%	0.03%
	LH	A	0.03%	0.11%	0.03%
	LHX	B	0.02%	0.1%	0.02%
	LMT	A	0.01%	0.23%	0.01%
	LNT	A	0.01%	0.1%	0.01%
	LOW	B	0.01%	0.04%	0.01%
	MA	C	0.02%	0.04%	0.02%
	MAA	A	0.01%	0.02%	0.01%
	MAR	F	0.03%	0.04%	0.03%
	MAS	B	0.01%	0.19%	0.01%
	MCD	C	0.01%	0.04%	0.01%
	MCO	A	0.02%	0.07%	0.02%
	MDLZ	C	0.03%	0.07%	0.03%
	MET	B	0.02%	0.09%	0.02%
	MKC	B	0.02%	0.07%	0.02%
	MKL	C	0.01%	0.11%	0.01%
	MLM	B	0.03%	0.09%	0.03%
	MMC	A	0.01%	0.01%	0.01%
	MMM	A	0.01%	0.08%	0.01%
	MO	A	0.01%	0.1%	0.01%
	MS	B	0.05%	0.04%	0.04%
	MSFT	D	0.01%	0.04%	0.01%
	MSI	A	0.02%	0.04%	0.02%
	MUFG	B	0.03%	0.02%	0.02%
	NDAQ	B	0.02%	0.08%	0.02%
	NEE	A	0.01%	0.04%	0.01%
	NI	A	0.02%	0.19%	0.02%
	NNN	A	0.01%	0.06%	0.01%
	NOC	A	0.02%	0.19%	0.02%
	NSC	B	0.01%	0.07%	0.01%
	NXPI	D	0.04%	0.21%	0.04%
	O	A	0.02%	0.12%	0.02%
	OHI	A	0.03%	0.0%	0.0%
	OKE	B	0.01%	0.14%	0.01%
	ORCL	B	0.04%	0.11%	0.04%
	ORI	A	0.03%	0.08%	0.03%
	OTIS	D	0.02%	0.07%	0.02%
	PAA	B	0.02%	0.19%	0.02%
	PCG	A	0.01%	0.07%	0.01%
	PEG	A	0.01%	0.07%	0.01%
	PEP	B	0.02%	0.24%	0.02%
	PG	B	0.01%	0.06%	0.01%
	PGR	B	0.01%	0.04%	0.01%
	PH	B	0.02%	0.02%	0.02%
	PHM	B	0.01%	0.2%	0.01%
	PKG	A	0.03%	0.07%	0.03%
	PLD	B	0.01%	0.07%	0.01%
	PM	A	0.02%	0.17%	0.02%
	PRU	B	0.01%	0.0%	0.0%
	PYPL	C	0.03%	0.02%	0.02%
	QCOM	D	0.02%	0.08%	0.02%
	REG	A	0.01%	0.06%	0.01%
	ROK	D	0.02%	0.06%	0.02%
	RPM	B	0.03%	0.04%	0.03%
	RPRX	C	0.03%	0.14%	0.03%
	RSG	B	0.01%	0.04%	0.01%
	SBRA	B	0.02%	0.07%	0.02%
	SBUX	F	0.01%	0.09%	0.01%
	SCHW	F	0.02%	0.04%	0.02%
	SHW	A	0.01%	0.04%	0.01%
	SJM	B	0.01%	0.04%	0.01%
	SO	A	0.01%	0.1%	0.01%
	SPG	B	0.01%	0.22%	0.01%
	SPGI	A	0.03%	0.08%	0.03%
	SRE	A	0.01%	0.07%	0.01%
	STLD	C	0.02%	0.04%	0.02%
	SWK	B	0.02%	0.11%	0.02%
	SYK	D	0.02%	0.03%	0.02%
	T	A	0.01%	0.12%	0.01%
	TCN	A	0.02%	0.08%	0.02%
	TEL	C	0.02%	0.07%	0.02%
	TMO	A	0.01%	0.19%	0.01%
	TMUS	A	0.03%	0.14%	0.03%
	TT	B	0.01%	0.08%	0.01%
	TXN	C	0.02%	0.07%	0.02%
	UNH	A	0.01%	0.02%	0.01%
	UNP	B	0.01%	0.11%	0.01%
	UPS	F	0.02%	0.08%	0.02%
	V	D	0.02%	0.1%	0.02%
	VLO	B	0.03%	0.08%	0.03%
	VOYA	F	0.01%	0.04%	0.01%
	VRSK	C	0.02%	0.1%	0.02%
	VTR	A	0.01%	0.02%	0.01%
	VZ	C	0.01%	0.03%	0.01%
	WEC	A	0.01%	0.17%	0.01%
	WELL	A	0.01%	0.08%	0.01%
	WFC	C	0.01%	0.07%	0.01%
	WHR	C	0.02%	0.08%	0.02%
	WM	C	0.03%	0.13%	0.03%
	WMT	B	0.02%	0.02%	0.02%
	WPC	C	0.02%	0.06%	0.02%
	WU	D	0.03%	0.13%	0.03%
	WY	B	0.07%	0.1%	0.07%
	XEL	B	0.01%	0.14%	0.01%
	ZTS	B	0.01%	0.05%	0.01%

VCLT Overweight 138 Positions Relative to SKOR

	Symbol	Grade	Weight
	WIT	B	0.21%
	DELL	D	0.11%
	EQH	B	0.09%
	MDT	C	0.08%
	DD	A	0.07%
	CAG	A	0.05%
	SCCO	D	0.05%
	BIIB	F	0.05%
	TAP	C	0.05%
	CRM	C	0.05%
	L	B	0.04%
	WBA	F	0.04%
	LIN	B	0.04%
	BHF	B	0.04%
	TJX	A	0.04%
	JNPR	A	0.04%
	NEM	A	0.04%
	HPE	D	0.04%
	FANG	C	0.03%
	AAL	F	0.03%
	STE	A	0.03%
	WRK	C	0.03%
	NOV	B	0.03%
	CF	D	0.03%
	AMAT	D	0.03%
	DVN	F	0.03%
	RJF	F	0.03%
	NVDA	D	0.03%
	VTRS	B	0.03%
	PSX	C	0.03%
	MPLX	A	0.03%
	ABT	B	0.03%
	PWR	D	0.02%
	PECO	B	0.02%
	REGN	A	0.02%
	ZBH	C	0.02%
	FE	A	0.02%
	CINF	A	0.02%
	OGS	B	0.02%
	IVZ	B	0.02%
	HRL	B	0.02%
	HOG	B	0.02%
	VMI	B	0.02%
	XYL	D	0.02%
	WTRG	A	0.02%
	AJG	A	0.02%
	KSS	D	0.02%
	NWE	B	0.02%
	LRCX	F	0.02%
	GWW	C	0.02%
	EMN	B	0.02%
	MOS	D	0.02%
	LNC	B	0.02%
	FIS	D	0.02%
	EG	D	0.02%
	STZ	F	0.02%
	DE	F	0.02%
	TGT	C	0.02%
	HES	D	0.02%
	CVX	C	0.02%
	TSN	A	0.02%
	MPC	C	0.02%
	HAL	F	0.02%
	ICE	A	0.02%
	COP	F	0.02%
	RTX	A	0.02%
	PFE	B	0.02%
	XOM	B	0.02%
	AZN	A	0.02%
	VOD	B	0.02%
	GSK	D	0.02%
	GE	B	0.02%
	FRT	A	0.01%
	AGO	C	0.01%
	EXR	B	0.01%
	AVA	A	0.01%
	APTV	D	0.01%
	DRI	D	0.01%
	ALB	F	0.01%
	INGR	A	0.01%
	IDA	A	0.01%
	LXP	B	0.01%
	OPI	D	0.01%
	JD	F	0.01%
	SIGI	D	0.01%
	DOC	A	0.01%
	ADC	A	0.01%
	BEN	D	0.01%
	CACC	D	0.01%
	AES	D	0.01%
	PFG	C	0.01%
	OGE	A	0.01%
	RF	B	0.01%
	EE	B	0.01%
	SWX	B	0.01%
	SNA	B	0.01%
	UDR	B	0.01%
	UAL	F	0.01%
	HSY	B	0.01%
	IPG	B	0.01%
	KOF	C	0.01%
	EOG	C	0.01%
	CAH	B	0.01%
	WRB	B	0.01%
	PNW	A	0.01%
	HIG	A	0.01%
	IFF	A	0.01%
	HAS	B	0.01%
	EVRG	A	0.01%
	ETN	D	0.01%
	UNM	A	0.01%
	VMC	A	0.01%
	NUE	F	0.01%
	EXC	B	0.01%
	OC	B	0.01%
	ACGL	D	0.01%
	WLK	D	0.01%
	PPL	A	0.01%
	GLW	C	0.01%
	JCI	C	0.01%
	EL	F	0.01%
	TRV	B	0.01%
	LLY	D	0.01%
	JBLU	C	0.01%
	KR	B	0.01%
	FDX	B	0.01%
	ETR	A	0.01%
	ADM	D	0.01%
	IP	A	0.01%
	WMB	B	0.01%
	LYB	B	0.01%
	MRO	D	0.01%
	BSX	D	0.01%
	CAT	C	0.01%
	ET	A	0.01%
	SYY	B	0.01%
	NKE	F	0.01%
	MRK	F	0.01%

VCLT Underweight 105 Positions Relative to SKOR

	Symbol	Grade	Weight
	LEN	B	-0.32%
	VRSN	C	-0.19%
	TPR	D	-0.19%
	ELV	C	-0.18%
	TD	C	-0.17%
	LII	B	-0.16%
	ARW	C	-0.15%
	TDY	B	-0.14%
	JBHT	C	-0.12%
	BRX	B	-0.12%
	AMCR	A	-0.12%
	APH	D	-0.11%
	CM	B	-0.11%
	NVT	D	-0.11%
	ATHS	F	-0.11%
	ARCC	C	-0.11%
	BMO	F	-0.11%
	DFS	C	-0.11%
	DLR	B	-0.1%
	BIDU	F	-0.1%
	BKU	B	-0.1%
	TRMB	F	-0.1%
	INTU	B	-0.1%
	VNT	F	-0.09%
	THG	A	-0.09%
	FHN	C	-0.09%
	CMA	B	-0.09%
	AGR	B	-0.09%
	HST	F	-0.09%
	MCK	A	-0.09%
	ADBE	B	-0.09%
	FLO	C	-0.09%
	LAZ	B	-0.09%
	BNS	C	-0.09%
	BR	A	-0.08%
	PSA	B	-0.08%
	ADSK	C	-0.08%
	AWH	F	-0.08%
	BG	C	-0.08%
	FAF	B	-0.08%
	HBAN	B	-0.08%
	CSL	C	-0.08%
	HP	C	-0.08%
	H	C	-0.08%
	CBOE	B	-0.08%
	DSS	F	-0.08%
	EW	F	-0.08%
	DINO	D	-0.08%
	KEYS	F	-0.08%
	ROP	D	-0.08%
	BRO	A	-0.08%
	NFG	A	-0.08%
	ORLY	A	-0.08%
	BLK	A	-0.08%
	KEY	C	-0.08%
	MU	D	-0.08%
	GLPI	B	-0.08%
	SYF	C	-0.08%
	ADP	A	-0.07%
	AVT	D	-0.07%
	KMPR	B	-0.07%
	NTAP	C	-0.07%
	DHI	B	-0.07%
	PPG	F	-0.07%
	DGX	A	-0.07%
	WB	F	-0.07%
	ALLE	B	-0.07%
	CE	F	-0.07%
	A	B	-0.07%
	GSBD	D	-0.07%
	USB	B	-0.07%
	AMP	D	-0.07%
	CUBE	B	-0.07%
	HUBB	C	-0.07%
	STT	B	-0.07%
	SKT	A	-0.06%
	AEL	A	-0.06%
	WAB	D	-0.06%
	SCS	B	-0.06%
	GL	C	-0.06%
	AL	C	-0.06%
	WTW	A	-0.06%
	TFC	B	-0.06%
	SITC	B	-0.05%
	EFX	A	-0.05%
	RY	B	-0.05%
	BK	A	-0.05%
	AER	C	-0.05%
	DLTR	F	-0.05%
	AZO	B	-0.05%
	PDM	A	-0.04%
	HPP	C	-0.04%
	KRG	A	-0.04%
	RNR	A	-0.04%
	AIZ	B	-0.04%
	HII	C	-0.04%
	AXS	B	-0.04%
	DB	D	-0.04%
	FLS	B	-0.03%
	PNC	B	-0.03%
	CTAS	A	-0.02%
	AAP	D	-0.02%
	BDN	B	-0.02%
	CLX	D	-0.02%
	COF	B	-0.02%

VCLT: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Drug Manufacturers - Major Insurance - Property & Casualty Utilities - Diversified Diversified Industrials Packaged Foods REIT - Retail Specialty Chemicals Insurance - Life Oil & Gas Midstream REIT - Residential Semiconductors Banks - Global Capital Markets Credit Services Oil & Gas E&P Aerospace & Defense Communication Equipment Household & Personal Products Insurance - Diversified

Keywords: S&P 500 Natural Gas Nasdaq 100 Electricity Insurance Dow Jones Component Real Estate Investment Trust Insurance Products Chemical Bank Computing Electronics Petroleum Industry Crude Oil Disability Medicine Financial Products Mining Natural Gas Storage Plastic

SKOR: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Banks - Global Diversified Industrials Banks - Regional - US Credit Services REIT - Retail REIT - Office Business Services Insurance - Property & Casualty Asset Management Capital Markets Diagnostics & Research Packaged Foods REIT - Residential Semiconductors Specialty Retail Aerospace & Defense Drug Manufacturers - Major Health Care Plans Household & Personal Products

Keywords: S&P 500 Nasdaq 100 Insurance Bank Real Estate Investment Trust Natural Gas Dow Jones Component Electricity Banking Investment Bank Insurance Products Financial Products Cash Management Chemical Computing Commercial Banking Electronics Real Estate Market Telecommunications Aerospace