VFVA vs. VBR ETF Comparison

Comparison of Vanguard Wellington Fund ETF (VFVA) to Vanguard Small-Cap Value ETF - DNQ (VBR)

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

$126.14

Average Daily Volume

12,831

Number of Holdings ^*

613

* may have additional holdings in another (foreign) market

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

$211.66

Average Daily Volume

413,182

Number of Holdings ^*

797

* may have additional holdings in another (foreign) market

Performance

Period	VFVA	VBR
30 Days	5.13%	6.50%
60 Days	10.02%	11.74%
90 Days	12.88%	13.65%
12 Months	33.85%	39.83%

316 Overlapping Holdings

	Symbol	Grade	Weight in VFVA	Weight in VBR	Overlap
	ABCB	B	0.16%	0.12%	0.12%
	ABG	B	0.15%	0.14%	0.14%
	ACT	D	0.03%	0.03%	0.03%
	AEO	F	0.18%	0.11%	0.11%
	AGCO	D	0.18%	0.18%	0.18%
	AL	B	0.41%	0.13%	0.13%
	ALIT	D	0.14%	0.09%	0.09%
	ALK	B	0.23%	0.16%	0.16%
	ALLY	C	0.25%	0.28%	0.25%
	ALSN	A	0.16%	0.24%	0.16%
	AMBC	C	0.03%	0.01%	0.01%
	AMG	C	0.21%	0.15%	0.15%
	AMKR	F	0.07%	0.1%	0.07%
	AMRX	C	0.02%	0.03%	0.02%
	AMWD	B	0.06%	0.02%	0.02%
	ANDE	D	0.12%	0.05%	0.05%
	APA	F	0.22%	0.26%	0.22%
	AR	C	0.13%	0.12%	0.12%
	ARCB	C	0.08%	0.07%	0.07%
	ARW	F	0.43%	0.2%	0.2%
	ASB	B	0.13%	0.09%	0.09%
	ASGN	B	0.05%	0.11%	0.05%
	ASO	F	0.21%	0.12%	0.12%
	ATGE	B	0.11%	0.08%	0.08%
	ATKR	D	0.26%	0.09%	0.09%
	ATSG	B	0.17%	0.03%	0.03%
	AUB	B	0.09%	0.1%	0.09%
	AVT	B	0.25%	0.14%	0.14%
	AX	B	0.07%	0.1%	0.07%
	AXL	D	0.16%	0.02%	0.02%
	AXS	A	0.26%	0.17%	0.17%
	BANR	B	0.09%	0.06%	0.06%
	BBWI	D	0.18%	0.2%	0.18%
	BC	C	0.18%	0.16%	0.16%
	BCC	B	0.07%	0.16%	0.07%
	BEN	C	0.05%	0.09%	0.05%
	BERY	C	0.38%	0.21%	0.21%
	BFH	B	0.17%	0.07%	0.07%
	BG	F	0.27%	0.39%	0.27%
	BGS	F	0.13%	0.02%	0.02%
	BHE	B	0.02%	0.04%	0.02%
	BHF	B	0.22%	0.08%	0.08%
	BHLB	B	0.08%	0.03%	0.03%
	BKU	B	0.15%	0.08%	0.08%
	BLDR	D	0.08%	0.65%	0.08%
	BLMN	F	0.04%	0.04%	0.04%
	BMBL	D	0.19%	0.02%	0.02%
	BOKF	B	0.08%	0.07%	0.07%
	BPOP	D	0.06%	0.21%	0.06%
	BRKL	B	0.02%	0.02%	0.02%
	BTU	B	0.17%	0.09%	0.09%
	BV	A	0.1%	0.03%	0.03%
	BWA	D	0.25%	0.24%	0.24%
	BYD	A	0.18%	0.06%	0.06%
	CADE	B	0.16%	0.17%	0.16%
	CAL	F	0.06%	0.02%	0.02%
	CATY	B	0.09%	0.08%	0.08%
	CC	C	0.02%	0.09%	0.02%
	CFFN	B	0.04%	0.02%	0.02%
	CG	B	0.03%	0.29%	0.03%
	CHRD	F	0.18%	0.23%	0.18%
	CLF	D	0.21%	0.17%	0.17%
	CMA	B	0.15%	0.23%	0.15%
	CMC	B	0.19%	0.18%	0.18%
	CMPR	F	0.02%	0.02%	0.02%
	CNDT	C	0.03%	0.01%	0.01%
	CNO	B	0.04%	0.1%	0.04%
	CNXC	F	0.06%	0.08%	0.06%
	COHR	B	0.07%	0.2%	0.07%
	COLB	B	0.34%	0.16%	0.16%
	COOP	A	0.13%	0.16%	0.13%
	CRC	B	0.15%	0.12%	0.12%
	CRGY	A	0.16%	0.05%	0.05%
	CWK	B	0.08%	0.09%	0.08%
	CXW	B	0.07%	0.04%	0.04%
	DAN	F	0.17%	0.04%	0.04%
	DIN	C	0.15%	0.01%	0.01%
	DINO	F	0.16%	0.21%	0.16%
	DLX	B	0.14%	0.02%	0.02%
	DNB	B	0.09%	0.11%	0.09%
	DNOW	C	0.09%	0.04%	0.04%
	DTM	A	0.17%	0.22%	0.17%
	DXC	C	0.23%	0.11%	0.11%
	EAT	B	0.08%	0.09%	0.08%
	EBC	B	0.07%	0.09%	0.07%
	ECVT	C	0.14%	0.02%	0.02%
	EGBN	B	0.1%	0.01%	0.01%
	EIG	B	0.02%	0.03%	0.02%
	ELAN	D	0.14%	0.21%	0.14%
	EMBC	C	0.07%	0.02%	0.02%
	EMN	D	0.09%	0.38%	0.09%
	ENS	F	0.12%	0.12%	0.12%
	EPC	D	0.02%	0.05%	0.02%
	EQH	B	0.07%	0.39%	0.07%
	ESI	B	0.03%	0.17%	0.03%
	ESNT	F	0.45%	0.19%	0.19%
	ETWO	F	0.04%	0.03%	0.03%
	EWBC	B	0.08%	0.33%	0.08%
	EYE	D	0.11%	0.02%	0.02%
	FAF	D	0.08%	0.19%	0.08%
	FCF	B	0.12%	0.05%	0.05%
	FCNCA	B	0.12%	0.57%	0.12%
	FDP	B	0.11%	0.03%	0.03%
	FFBC	B	0.2%	0.07%	0.07%
	FHN	B	0.1%	0.24%	0.1%
	FIBK	B	0.07%	0.07%	0.07%
	FL	F	0.09%	0.07%	0.07%
	FMC	D	0.05%	0.24%	0.05%
	FNB	B	0.19%	0.15%	0.15%
	FOR	D	0.03%	0.02%	0.02%
	FRME	B	0.05%	0.06%	0.05%
	FULT	B	0.1%	0.09%	0.09%
	FWRD	D	0.06%	0.01%	0.01%
	GAP	C	0.1%	0.15%	0.1%
	GATX	B	0.05%	0.14%	0.05%
	GBX	B	0.16%	0.04%	0.04%
	GEF	B	0.05%	0.04%	0.04%
	GEF	B	0.05%	0.0%	0.0%
	GEO	B	0.04%	0.05%	0.04%
	GHC	A	0.05%	0.08%	0.05%
	GIII	C	0.17%	0.03%	0.03%
	GL	C	0.08%	0.27%	0.08%
	GNW	C	0.12%	0.09%	0.09%
	GO	D	0.02%	0.04%	0.02%
	GPI	B	0.06%	0.14%	0.06%
	GPK	C	0.06%	0.26%	0.06%
	GT	C	0.34%	0.07%	0.07%
	GTES	B	0.3%	0.12%	0.12%
	HAIN	D	0.18%	0.02%	0.02%
	HBI	B	0.09%	0.07%	0.07%
	HCC	A	0.19%	0.1%	0.1%
	HEES	B	0.08%	0.04%	0.04%
	HELE	D	0.18%	0.04%	0.04%
	HI	C	0.07%	0.06%	0.06%
	HII	F	0.11%	0.3%	0.11%
	HLF	C	0.07%	0.02%	0.02%
	HOG	F	0.18%	0.13%	0.13%
	HOMB	B	0.02%	0.14%	0.02%
	HOPE	B	0.1%	0.04%	0.04%
	HRB	D	0.13%	0.26%	0.13%
	HUBG	B	0.04%	0.08%	0.04%
	HWC	B	0.19%	0.13%	0.13%
	HY	F	0.03%	0.02%	0.02%
	IART	C	0.11%	0.03%	0.03%
	INDB	B	0.07%	0.07%	0.07%
	INGR	B	0.17%	0.26%	0.17%
	INSW	F	0.24%	0.04%	0.04%
	IVZ	B	0.19%	0.22%	0.19%
	JAZZ	B	0.17%	0.19%	0.17%
	JBL	C	0.03%	0.37%	0.03%
	JEF	B	0.17%	0.26%	0.17%
	JELD	F	0.13%	0.04%	0.04%
	JHG	A	0.07%	0.14%	0.07%
	JLL	C	0.12%	0.37%	0.12%
	JXN	B	0.15%	0.2%	0.15%
	KALU	C	0.04%	0.03%	0.03%
	KBH	C	0.21%	0.16%	0.16%
	KELYA	F	0.06%	0.02%	0.02%
	KFY	B	0.07%	0.11%	0.07%
	KNX	B	0.19%	0.24%	0.19%
	KOP	D	0.16%	0.02%	0.02%
	LC	B	0.03%	0.03%	0.03%
	LEA	F	0.17%	0.18%	0.17%
	LEG	F	0.22%	0.05%	0.05%
	LKQ	F	0.16%	0.3%	0.16%
	LNC	B	0.32%	0.15%	0.15%
	LZB	C	0.14%	0.05%	0.05%
	M	C	0.22%	0.12%	0.12%
	MAN	F	0.12%	0.1%	0.1%
	MAT	C	0.09%	0.19%	0.09%
	MATV	F	0.11%	0.03%	0.03%
	MATW	C	0.05%	0.02%	0.02%
	MATX	B	0.21%	0.14%	0.14%
	MD	B	0.17%	0.03%	0.03%
	MDU	F	0.18%	0.15%	0.15%
	MHK	D	0.28%	0.25%	0.25%
	MHO	C	0.19%	0.06%	0.06%
	MLI	B	0.22%	0.24%	0.22%
	MLKN	F	0.07%	0.05%	0.05%
	MODG	F	0.09%	0.02%	0.02%
	MOS	C	0.23%	0.25%	0.23%
	MRC	B	0.04%	0.03%	0.03%
	MTG	D	0.28%	0.19%	0.19%
	MTH	D	0.05%	0.21%	0.05%
	MUR	F	0.29%	0.14%	0.14%
	NAVI	F	0.13%	0.03%	0.03%
	NBHC	B	0.03%	0.05%	0.03%
	NBTB	B	0.08%	0.06%	0.06%
	NCLH	B	0.04%	0.13%	0.04%
	NMRK	B	0.16%	0.06%	0.06%
	NNI	C	0.06%	0.04%	0.04%
	NTCT	B	0.08%	0.04%	0.04%
	NUS	F	0.15%	0.01%	0.01%
	NVST	C	0.09%	0.1%	0.09%
	NWBI	B	0.05%	0.05%	0.05%
	NWL	B	0.13%	0.09%	0.09%
	NX	C	0.09%	0.04%	0.04%
	NXST	C	0.05%	0.15%	0.05%
	OC	B	0.07%	0.44%	0.07%
	ODP	F	0.18%	0.03%	0.03%
	OFG	C	0.05%	0.06%	0.05%
	OGN	F	0.15%	0.14%	0.14%
	OI	D	0.27%	0.06%	0.06%
	OLN	F	0.14%	0.16%	0.14%
	OLPX	F	0.03%	0.01%	0.01%
	OMCL	B	0.11%	0.06%	0.06%
	OMF	A	0.07%	0.16%	0.07%
	OMI	F	0.16%	0.03%	0.03%
	ONB	B	0.21%	0.17%	0.17%
	ORI	B	0.13%	0.24%	0.13%
	OVV	D	0.26%	0.29%	0.26%
	OZK	B	0.12%	0.13%	0.12%
	PBF	F	0.18%	0.08%	0.08%
	PBI	C	0.07%	0.04%	0.04%
	PCRX	D	0.19%	0.02%	0.02%
	PENN	C	0.06%	0.08%	0.06%
	PFS	B	0.06%	0.07%	0.06%
	PFSI	D	0.05%	0.08%	0.05%
	PHIN	B	0.1%	0.06%	0.06%
	PII	F	0.08%	0.13%	0.08%
	PINC	B	0.02%	0.06%	0.02%
	PNFP	B	0.11%	0.1%	0.1%
	PPBI	B	0.11%	0.07%	0.07%
	PPC	B	0.04%	0.05%	0.04%
	PR	C	0.17%	0.12%	0.12%
	PRA	B	0.02%	0.02%	0.02%
	PRGO	D	0.24%	0.1%	0.1%
	PRLB	B	0.05%	0.02%	0.02%
	PTEN	D	0.21%	0.09%	0.09%
	PTVE	D	0.03%	0.01%	0.01%
	PUMP	F	0.19%	0.02%	0.02%
	PVH	C	0.21%	0.16%	0.16%
	QRVO	F	0.12%	0.28%	0.12%
	R	A	0.41%	0.17%	0.17%
	RDN	D	0.28%	0.15%	0.15%
	REVG	B	0.07%	0.04%	0.04%
	REZI	A	0.14%	0.08%	0.08%
	RGA	B	0.04%	0.41%	0.04%
	RNG	B	0.17%	0.07%	0.07%
	RNR	B	0.2%	0.41%	0.2%
	RNST	B	0.1%	0.06%	0.06%
	RRC	C	0.1%	0.2%	0.1%
	RRX	B	0.12%	0.32%	0.12%
	RS	B	0.02%	0.46%	0.02%
	RUSHA	B	0.06%	0.1%	0.06%
	SAIC	B	0.1%	0.21%	0.1%
	SANM	B	0.07%	0.1%	0.07%
	SATS	C	0.09%	0.09%	0.09%
	SBH	C	0.16%	0.04%	0.04%
	SCHL	F	0.09%	0.02%	0.02%
	SCSC	C	0.11%	0.03%	0.03%
	SEB	F	0.16%	0.02%	0.02%
	SF	B	0.14%	0.26%	0.14%
	SIRI	D	0.2%	0.15%	0.15%
	SJM	D	0.15%	0.35%	0.15%
	SKYW	B	0.11%	0.09%	0.09%
	SLM	B	0.03%	0.14%	0.03%
	SM	C	0.22%	0.07%	0.07%
	SNDR	A	0.15%	0.03%	0.03%
	SNV	B	0.2%	0.18%	0.18%
	SNX	B	0.24%	0.22%	0.22%
	SON	F	0.21%	0.15%	0.15%
	SSB	B	0.08%	0.21%	0.08%
	ST	F	0.15%	0.16%	0.15%
	STBA	C	0.26%	0.04%	0.04%
	STLD	B	0.13%	0.27%	0.13%
	SWI	B	0.03%	0.02%	0.02%
	TAP	B	0.16%	0.29%	0.16%
	TDS	B	0.12%	0.06%	0.06%
	TEX	C	0.21%	0.1%	0.1%
	TGNA	B	0.2%	0.08%	0.08%
	THG	A	0.04%	0.14%	0.04%
	TKR	F	0.09%	0.15%	0.09%
	TMHC	A	0.06%	0.2%	0.06%
	TNL	A	0.21%	0.09%	0.09%
	TOL	B	0.16%	0.46%	0.16%
	TOWN	C	0.05%	0.06%	0.05%
	TPH	D	0.21%	0.12%	0.12%
	TPR	A	0.04%	0.31%	0.04%
	TRMK	B	0.07%	0.05%	0.05%
	TROX	F	0.2%	0.05%	0.05%
	TTMI	A	0.25%	0.05%	0.05%
	UA	C	0.04%	0.03%	0.03%
	UCB	B	0.02%	0.1%	0.02%
	UFPI	C	0.11%	0.22%	0.11%
	UHAL	B	0.22%	0.02%	0.02%
	UHAL	B	0.22%	0.2%	0.2%
	UHS	D	0.16%	0.37%	0.16%
	UNFI	B	0.12%	0.03%	0.03%
	UNM	B	0.6%	0.25%	0.25%
	UPBD	C	0.07%	0.05%	0.05%
	URBN	D	0.07%	0.08%	0.07%
	UTHR	B	0.15%	0.46%	0.15%
	VAC	B	0.09%	0.07%	0.07%
	VLY	B	0.09%	0.11%	0.09%
	VREX	C	0.07%	0.01%	0.01%
	VRNT	F	0.04%	0.05%	0.04%
	VSCO	B	0.06%	0.06%	0.06%
	VSH	F	0.07%	0.07%	0.07%
	VYX	C	0.02%	0.06%	0.02%
	WAFD	C	0.21%	0.08%	0.08%
	WAL	B	0.18%	0.26%	0.18%
	WBS	B	0.22%	0.23%	0.22%
	WCC	B	0.2%	0.24%	0.2%
	WERN	B	0.03%	0.07%	0.03%
	WHR	B	0.21%	0.17%	0.17%
	WKC	D	0.16%	0.05%	0.05%
	WMK	B	0.03%	0.03%	0.03%
	WNC	D	0.04%	0.02%	0.02%
	WRLD	C	0.02%	0.01%	0.01%
	WSBC	B	0.08%	0.05%	0.05%
	WWW	A	0.15%	0.04%	0.04%
	XRAY	F	0.06%	0.16%	0.06%
	XRX	F	0.05%	0.03%	0.03%
	ZD	C	0.17%	0.06%	0.06%
	ZION	B	0.16%	0.2%	0.16%

VFVA Overweight 299 Positions Relative to VBR

	Symbol	Grade	Weight
	T	B	1.01%
	MO	B	1.0%
	FDX	B	0.89%
	GM	B	0.87%
	XOM	B	0.86%
	VZ	D	0.8%
	BAC	B	0.76%
	HCA	D	0.76%
	EOG	B	0.75%
	CVS	F	0.74%
	TFC	B	0.73%
	C	B	0.72%
	USB	B	0.71%
	PSX	F	0.71%
	CVX	B	0.7%
	SLB	D	0.69%
	CMCSA	B	0.68%
	F	D	0.68%
	VLO	D	0.66%
	INTC	C	0.66%
	COF	B	0.66%
	CI	F	0.66%
	COP	C	0.65%
	WFC	B	0.59%
	MU	C	0.59%
	MPC	F	0.56%
	JPM	B	0.54%
	FI	B	0.53%
	MET	C	0.52%
	AIG	C	0.51%
	OXY	F	0.5%
	BK	B	0.5%
	CB	D	0.48%
	TRV	B	0.48%
	BMY	C	0.46%
	GILD	B	0.44%
	GS	B	0.44%
	FCX	C	0.43%
	MDT	C	0.42%
	HPQ	B	0.42%
	PCAR	B	0.42%
	RPRX	F	0.41%
	DIS	C	0.4%
	NEM	D	0.4%
	NUE	C	0.38%
	PFE	F	0.36%
	WMB	B	0.35%
	MCK	B	0.35%
	CIVI	D	0.33%
	FOX	B	0.33%
	SYF	B	0.33%
	PNC	A	0.33%
	HPE	B	0.32%
	MS	B	0.32%
	DHI	D	0.31%
	CE	F	0.3%
	LYB	F	0.3%
	FANG	D	0.3%
	TMUS	A	0.3%
	BDX	F	0.29%
	UAL	A	0.29%
	PRU	C	0.28%
	PRDO	B	0.28%
	TGT	F	0.27%
	CAH	B	0.26%
	GD	B	0.26%
	AZO	D	0.26%
	VTRS	B	0.25%
	PYPL	A	0.24%
	CCL	B	0.23%
	ADM	F	0.23%
	HRI	B	0.22%
	FIS	C	0.22%
	CNC	F	0.22%
	KR	A	0.22%
	AMR	C	0.2%
	DBX	C	0.2%
	ZI	C	0.2%
	ACGL	D	0.2%
	GPOR	C	0.2%
	DAL	B	0.2%
	ADNT	F	0.19%
	KOS	F	0.19%
	NOV	D	0.19%
	LEN	D	0.19%
	KEY	B	0.19%
	LILAK	F	0.19%
	CTRA	C	0.19%
	STNG	F	0.19%
	MTDR	C	0.18%
	TNK	F	0.18%
	CCS	D	0.18%
	IBM	D	0.18%
	AHCO	F	0.18%
	CF	B	0.18%
	MTB	B	0.18%
	CCSI	B	0.18%
	JNJ	D	0.18%
	DOW	F	0.18%
	ALL	B	0.17%
	DAR	C	0.17%
	EFSC	B	0.17%
	EG	D	0.17%
	GTN	F	0.17%
	IMKTA	D	0.17%
	EQT	B	0.17%
	SLVM	A	0.16%
	PARR	F	0.16%
	ASIX	B	0.16%
	GNK	D	0.16%
	COMM	D	0.16%
	OCFC	B	0.16%
	BXC	B	0.16%
	CNH	D	0.16%
	CAG	F	0.16%
	DE	C	0.15%
	GLNG	B	0.15%
	MBUU	C	0.15%
	MCB	B	0.15%
	TWI	F	0.15%
	SPTN	F	0.15%
	CEIX	B	0.14%
	CSCO	A	0.14%
	NWSA	B	0.14%
	IRWD	D	0.14%
	TPC	B	0.14%
	RTX	C	0.14%
	SNCY	C	0.14%
	RMAX	B	0.14%
	FNF	C	0.14%
	PLTK	B	0.14%
	EMR	B	0.14%
	ASC	F	0.14%
	BRY	F	0.14%
	APTV	F	0.14%
	TDOC	D	0.13%
	LPG	F	0.13%
	CFG	B	0.13%
	BELFB	B	0.13%
	VBTX	B	0.13%
	PM	C	0.13%
	GOGL	D	0.13%
	GDOT	D	0.12%
	NAT	F	0.12%
	HLX	D	0.12%
	DCOM	B	0.12%
	RPAY	C	0.12%
	CMRE	C	0.12%
	PLAB	C	0.12%
	DOLE	B	0.12%
	RYI	C	0.12%
	DHT	F	0.12%
	BANC	B	0.12%
	APPS	F	0.12%
	SXC	A	0.12%
	STNE	F	0.11%
	BUSE	C	0.11%
	CLW	F	0.11%
	SASR	B	0.11%
	KMI	A	0.11%
	PEBO	B	0.11%
	MTCH	F	0.11%
	PHM	D	0.11%
	MTUS	C	0.11%
	FIVE	F	0.11%
	JRVR	D	0.11%
	SCHW	B	0.1%
	TK	D	0.1%
	RF	B	0.1%
	GPN	C	0.1%
	CSTM	F	0.1%
	STC	C	0.1%
	LULU	D	0.1%
	SD	F	0.1%
	KHC	F	0.1%
	CUBI	C	0.1%
	DLTR	F	0.1%
	EGY	F	0.1%
	CHGG	F	0.1%
	SMP	C	0.09%
	GPRE	F	0.09%
	TXT	D	0.09%
	GCO	C	0.09%
	PATK	D	0.09%
	FOXF	F	0.09%
	UVE	C	0.09%
	VTOL	C	0.09%
	BZH	C	0.09%
	AFL	D	0.09%
	HVT	F	0.09%
	NTB	B	0.09%
	SFL	F	0.08%
	RYAM	B	0.08%
	SSNC	C	0.08%
	RJF	B	0.08%
	BOOM	F	0.08%
	PLAY	C	0.08%
	ACCO	B	0.08%
	LEN	D	0.08%
	SRCE	B	0.08%
	DVN	F	0.08%
	SB	F	0.08%
	HIG	C	0.07%
	WYNN	D	0.07%
	OEC	F	0.07%
	SNEX	B	0.07%
	HAL	D	0.07%
	PAGS	F	0.07%
	MTW	C	0.07%
	TRST	B	0.07%
	ELV	F	0.07%
	DXPE	B	0.07%
	TSN	D	0.07%
	CCRN	F	0.07%
	MMM	C	0.07%
	HAFC	B	0.07%
	NIC	B	0.07%
	CNA	D	0.07%
	NOG	B	0.07%
	ZEUS	D	0.07%
	QCOM	C	0.07%
	NMIH	D	0.07%
	BBW	C	0.07%
	LBRDA	B	0.06%
	ALGT	C	0.06%
	LXU	C	0.06%
	GOOG	B	0.06%
	CROX	F	0.06%
	UIS	B	0.06%
	PFG	C	0.06%
	DENN	C	0.06%
	OIS	C	0.06%
	TCBK	B	0.06%
	BUR	C	0.06%
	SSP	D	0.06%
	REPX	A	0.06%
	ENVA	B	0.05%
	EBAY	D	0.05%
	BW	C	0.05%
	GRBK	D	0.05%
	HFWA	B	0.05%
	REX	C	0.05%
	LILA	F	0.05%
	WBD	C	0.05%
	RGP	F	0.05%
	CNOB	B	0.05%
	TTEC	F	0.05%
	LBRT	F	0.05%
	TWLO	A	0.05%
	APO	B	0.05%
	HZO	C	0.04%
	GLDD	B	0.04%
	WTTR	B	0.04%
	HNRG	C	0.04%
	MKL	B	0.04%
	AMPY	D	0.04%
	XPOF	C	0.04%
	FFWM	C	0.04%
	DESP	B	0.04%
	MOV	D	0.04%
	RDUS	C	0.04%
	TALO	C	0.04%
	BY	B	0.04%
	ANET	C	0.03%
	HOV	D	0.03%
	IGT	D	0.03%
	SCVL	D	0.03%
	MBIN	F	0.03%
	CMCO	C	0.03%
	JILL	D	0.03%
	FF	C	0.03%
	QCRH	B	0.03%
	HRTG	D	0.03%
	AMAL	B	0.03%
	INMD	C	0.03%
	SHLS	D	0.03%
	DGX	B	0.03%
	USAP	B	0.03%
	ZIMV	F	0.03%
	DRVN	B	0.03%
	IIIN	F	0.03%
	TBRG	B	0.02%
	NR	D	0.02%
	NFBK	B	0.02%
	HGV	C	0.02%
	KODK	C	0.02%
	TITN	D	0.02%
	HDSN	F	0.02%
	ALKS	C	0.02%
	CRBG	C	0.02%
	BAND	C	0.02%
	TTI	C	0.02%
	DG	F	0.02%
	IP	B	0.02%
	PFBC	B	0.02%
	FSLR	F	0.02%
	MEI	F	0.02%
	STT	B	0.02%
	OBK	B	0.02%

VFVA Underweight 481 Positions Relative to VBR

	Symbol	Grade	Weight
	SW	B	-0.74%
	BAH	B	-0.61%
	CSL	C	-0.6%
	ATO	A	-0.58%
	EME	B	-0.58%
	NRG	B	-0.54%
	PNR	B	-0.47%
	IEX	B	-0.47%
	THC	B	-0.46%
	WSM	F	-0.45%
	RPM	B	-0.45%
	KIM	A	-0.45%
	USFD	B	-0.43%
	AES	F	-0.41%
	ACM	B	-0.4%
	GLPI	D	-0.39%
	REG	B	-0.38%
	CPT	C	-0.38%
	ALLE	C	-0.37%
	JNPR	C	-0.37%
	FFIV	B	-0.37%
	TTEK	C	-0.36%
	KMX	F	-0.35%
	PFGC	B	-0.35%
	ITT	A	-0.35%
	CHRW	B	-0.35%
	TFX	F	-0.34%
	NVT	B	-0.34%
	IPG	F	-0.34%
	BXP	B	-0.33%
	HUBB	B	-0.33%
	CCK	C	-0.33%
	BJ	B	-0.32%
	LDOS	A	-0.32%
	SFM	A	-0.32%
	FBIN	D	-0.32%
	CACI	B	-0.32%
	ATR	B	-0.31%
	EPAM	C	-0.31%
	SCI	A	-0.31%
	AIZ	A	-0.3%
	OHI	B	-0.3%
	AA	B	-0.29%
	PNW	B	-0.29%
	AFG	B	-0.29%
	ARMK	B	-0.29%
	HAS	D	-0.28%
	FRT	C	-0.28%
	SOLV	C	-0.28%
	EHC	B	-0.28%
	Z	B	-0.28%
	EVR	B	-0.27%
	HSIC	F	-0.27%
	WTRG	B	-0.27%
	DCI	A	-0.26%
	NNN	D	-0.26%
	PRI	A	-0.26%
	MUSA	C	-0.26%
	EGP	D	-0.26%
	AIT	A	-0.25%
	NYT	B	-0.25%
	KBR	A	-0.25%
	GME	C	-0.25%
	FYBR	C	-0.25%
	APG	B	-0.24%
	FCN	F	-0.24%
	FLR	C	-0.24%
	AGNC	D	-0.24%
	OGE	A	-0.24%
	DKS	D	-0.24%
	BRX	A	-0.24%
	AYI	A	-0.24%
	LAD	B	-0.24%
	SWN	C	-0.23%
	AXTA	A	-0.23%
	DOC	B	-0.23%
	SEIC	B	-0.23%
	MIDD	C	-0.22%
	ADC	B	-0.22%
	CR	A	-0.22%
	VFC	B	-0.22%
	NI	A	-0.22%
	VOYA	B	-0.22%
	STAG	D	-0.21%
	VNO	A	-0.21%
	ANF	C	-0.21%
	X	C	-0.21%
	WTFC	B	-0.21%
	LUMN	B	-0.21%
	MKSI	D	-0.21%
	AAL	C	-0.21%
	RL	B	-0.21%
	FR	D	-0.21%
	FLS	A	-0.2%
	LPX	B	-0.2%
	DVA	D	-0.2%
	CBSH	A	-0.2%
	G	B	-0.2%
	NSIT	F	-0.2%
	KEX	C	-0.2%
	CFR	B	-0.19%
	STWD	D	-0.19%
	BIO	B	-0.19%
	PB	B	-0.19%
	OSK	B	-0.19%
	MSA	D	-0.19%
	CRUS	F	-0.19%
	RHI	B	-0.19%
	RLI	A	-0.19%
	EVRG	B	-0.19%
	ESAB	B	-0.18%
	CBT	B	-0.18%
	MOG.A	B	-0.17%
	VMI	B	-0.17%
	LAMR	C	-0.17%
	ACI	C	-0.17%
	XPO	B	-0.17%
	AN	D	-0.17%
	VVV	B	-0.16%
	IDA	A	-0.16%
	AUR	C	-0.16%
	NFG	C	-0.16%
	THO	C	-0.16%
	ALB	C	-0.16%
	ACHC	F	-0.16%
	PARA	C	-0.16%
	SRCL	A	-0.16%
	SIGI	B	-0.16%
	WTS	C	-0.16%
	KNF	B	-0.15%
	AM	B	-0.15%
	GBCI	B	-0.15%
	VNT	B	-0.15%
	KD	B	-0.15%
	BECN	B	-0.15%
	UGI	D	-0.15%
	TPG	B	-0.14%
	CPRI	F	-0.14%
	RIVN	F	-0.14%
	PIPR	B	-0.14%
	BDC	B	-0.14%
	RYN	D	-0.14%
	SUM	B	-0.14%
	BCO	D	-0.14%
	ZWS	B	-0.14%
	POR	D	-0.14%
	PSN	B	-0.14%
	UBSI	B	-0.14%
	LYFT	C	-0.13%
	UMBF	B	-0.13%
	ITGR	B	-0.13%
	SBRA	B	-0.13%
	SIG	B	-0.13%
	FLO	F	-0.13%
	NUVL	D	-0.13%
	MGM	F	-0.13%
	CUZ	B	-0.13%
	SWX	B	-0.13%
	FFIN	B	-0.13%
	SLG	B	-0.13%
	KRC	B	-0.13%
	KTB	A	-0.13%
	AVNT	B	-0.13%
	ACA	B	-0.13%
	CNX	B	-0.13%
	NJR	C	-0.13%
	HASI	F	-0.12%
	WU	F	-0.12%
	ASH	F	-0.12%
	WTM	B	-0.12%
	SLGN	B	-0.12%
	OGS	C	-0.12%
	ICUI	C	-0.12%
	SEE	C	-0.12%
	BKH	C	-0.12%
	FUL	D	-0.12%
	ESGR	B	-0.11%
	NHI	C	-0.11%
	SR	D	-0.11%
	SMG	D	-0.11%
	ALE	A	-0.11%
	EPR	D	-0.11%
	PLXS	B	-0.11%
	KMPR	A	-0.11%
	MSM	C	-0.11%
	IAC	C	-0.11%
	MTZ	A	-0.11%
	MDGL	B	-0.11%
	MAC	B	-0.11%
	EDR	C	-0.11%
	PNM	B	-0.11%
	AGO	B	-0.11%
	HUN	F	-0.11%
	HL	D	-0.11%
	TCBI	B	-0.1%
	MGEE	A	-0.1%
	ABM	B	-0.1%
	ESE	B	-0.1%
	IBOC	B	-0.1%
	SXT	B	-0.1%
	NPO	C	-0.1%
	CDP	C	-0.1%
	GVA	A	-0.1%
	FBP	C	-0.1%
	NWE	D	-0.1%
	MPW	D	-0.1%
	HIW	B	-0.1%
	PCH	F	-0.1%
	GMS	B	-0.1%
	BNL	D	-0.1%
	PBH	B	-0.1%
	SEM	B	-0.1%
	SKT	B	-0.1%
	WD	B	-0.1%
	FHB	B	-0.09%
	PRIM	A	-0.09%
	NSP	F	-0.09%
	UNF	B	-0.09%
	WSFS	B	-0.09%
	WEN	C	-0.09%
	APAM	B	-0.09%
	AVA	D	-0.09%
	CBU	B	-0.09%
	SYNA	D	-0.09%
	COMP	B	-0.09%
	WBA	F	-0.09%
	GFF	C	-0.09%
	AWR	B	-0.09%
	AMED	C	-0.09%
	BRC	B	-0.09%
	APLE	B	-0.09%
	AROC	B	-0.09%
	PAG	C	-0.09%
	COTY	F	-0.09%
	OTTR	D	-0.09%
	BGC	A	-0.09%
	POST	D	-0.08%
	CXT	D	-0.08%
	DY	C	-0.08%
	AIN	D	-0.08%
	ABR	B	-0.08%
	ADTN	B	-0.08%
	PK	C	-0.08%
	LXP	D	-0.08%
	IOSP	B	-0.08%
	TRN	B	-0.08%
	PRGS	B	-0.08%
	WLK	F	-0.08%
	TDC	D	-0.08%
	DEI	B	-0.08%
	JWN	C	-0.08%
	FHI	B	-0.08%
	ENR	B	-0.07%
	PECO	B	-0.07%
	HAYW	C	-0.07%
	MTRN	C	-0.07%
	AAP	F	-0.07%
	AZZ	B	-0.07%
	CVBF	B	-0.07%
	ARCH	B	-0.07%
	SMMT	C	-0.07%
	ENOV	C	-0.07%
	HNI	B	-0.07%
	PRK	B	-0.07%
	DBRG	F	-0.07%
	OSIS	C	-0.07%
	AKR	B	-0.07%
	CDE	C	-0.07%
	MTX	B	-0.07%
	BOH	B	-0.07%
	VIRT	A	-0.07%
	SPB	C	-0.07%
	CWEN	D	-0.07%
	RNA	B	-0.07%
	IOVA	D	-0.07%
	SFNC	B	-0.07%
	MGRC	B	-0.07%
	OUT	C	-0.07%
	BXMT	B	-0.07%
	UE	A	-0.07%
	BANF	B	-0.06%
	RXO	B	-0.06%
	HURN	B	-0.06%
	GNL	D	-0.06%
	PRG	C	-0.06%
	VSTS	F	-0.06%
	THS	F	-0.06%
	INFA	D	-0.06%
	WLY	B	-0.06%
	IPGP	C	-0.06%
	SFBS	B	-0.06%
	JOBY	F	-0.06%
	VGR	B	-0.06%
	VIAV	B	-0.06%
	KMT	B	-0.06%
	CGON	C	-0.06%
	LAUR	B	-0.06%
	EQC	C	-0.06%
	IBTX	B	-0.06%
	IVT	A	-0.06%
	NATL	C	-0.06%
	SHO	B	-0.06%
	STRA	D	-0.06%
	SXI	B	-0.06%
	EVTC	C	-0.06%
	ZG	B	-0.06%
	BLKB	C	-0.06%
	AIR	C	-0.06%
	KSS	F	-0.06%
	CRI	F	-0.06%
	MIR	B	-0.06%
	PSMT	C	-0.06%
	AZTA	F	-0.06%
	CABO	C	-0.05%
	HLIO	B	-0.05%
	HE	D	-0.05%
	LTC	B	-0.05%
	CENTA	D	-0.05%
	AMN	F	-0.05%
	SUPN	B	-0.05%
	REYN	F	-0.05%
	STEP	B	-0.05%
	CHCO	B	-0.05%
	DDS	C	-0.05%
	NHC	C	-0.05%
	SCL	C	-0.05%
	NPAB	F	-0.05%
	UAA	C	-0.05%
	SHOO	D	-0.05%
	DRH	B	-0.05%
	PDCO	D	-0.05%
	LGND	B	-0.05%
	MCY	A	-0.05%
	LRN	B	-0.05%
	PZZA	C	-0.05%
	GOLF	B	-0.05%
	FTRE	D	-0.05%
	KAR	B	-0.05%
	B	B	-0.05%
	CAKE	B	-0.05%
	IMVT	C	-0.05%
	ROIC	A	-0.05%
	AIV	D	-0.04%
	AAT	B	-0.04%
	PMT	D	-0.04%
	UVV	C	-0.04%
	WOR	D	-0.04%
	PDM	B	-0.04%
	WABC	B	-0.04%
	ARI	D	-0.04%
	BKD	F	-0.04%
	OXM	F	-0.04%
	UNIT	B	-0.04%
	VC	F	-0.04%
	LADR	C	-0.04%
	VCTR	B	-0.04%
	BKE	B	-0.04%
	COLM	C	-0.04%
	SPNT	C	-0.04%
	HP	C	-0.04%
	VSAT	F	-0.04%
	CSGS	B	-0.04%
	WT	B	-0.04%
	RRR	F	-0.04%
	ALEX	B	-0.04%
	VRE	B	-0.04%
	CAR	D	-0.04%
	VRTS	B	-0.04%
	NGVT	C	-0.04%
	CODI	B	-0.04%
	HMN	B	-0.04%
	ESRT	C	-0.04%
	LCII	D	-0.04%
	HTH	C	-0.04%
	JBGS	D	-0.04%
	KN	B	-0.04%
	CNK	B	-0.04%
	DYN	F	-0.04%
	APOG	A	-0.04%
	ELME	C	-0.04%
	GTY	B	-0.04%
	NWN	B	-0.04%
	USM	B	-0.03%
	SMR	B	-0.03%
	CMTG	D	-0.03%
	JACK	D	-0.03%
	BDN	C	-0.03%
	LGF.A	D	-0.03%
	DNUT	D	-0.03%
	MMI	B	-0.03%
	JBLU	C	-0.03%
	CWEN	D	-0.03%
	TRS	B	-0.03%
	CBRL	D	-0.03%
	THR	F	-0.03%
	FA	D	-0.03%
	RWT	D	-0.03%
	INVA	B	-0.03%
	VSTO	B	-0.03%
	LEVI	F	-0.03%
	HTLF	B	-0.03%
	CARS	C	-0.03%
	ECPG	B	-0.03%
	FBRT	B	-0.03%
	CNNE	B	-0.03%
	CSR	B	-0.03%
	AVNS	F	-0.03%
	WS	A	-0.03%
	KFRC	D	-0.03%
	KWR	D	-0.03%
	SCS	C	-0.03%
	DK	F	-0.03%
	SAFT	C	-0.03%
	MYGN	F	-0.03%
	MSGE	C	-0.03%
	TILE	A	-0.02%
	HTLD	C	-0.02%
	ATUS	C	-0.02%
	MXL	C	-0.02%
	GES	F	-0.02%
	BASE	C	-0.02%
	TMP	B	-0.02%
	HPP	F	-0.02%
	RGR	F	-0.02%
	KREF	D	-0.02%
	ASTE	C	-0.02%
	BRSP	B	-0.02%
	XHR	B	-0.02%
	SVC	F	-0.02%
	SAH	B	-0.02%
	CVI	F	-0.02%
	HCSG	B	-0.02%
	MNRO	B	-0.02%
	PRAA	C	-0.02%
	FG	B	-0.02%
	RBRK	A	-0.02%
	LDI	C	-0.01%
	BRCC	F	-0.01%
	OPK	C	-0.01%
	TWKS	C	-0.01%
	DJT	D	-0.01%
	CENT	D	-0.01%
	TGI	B	-0.01%
	ALX	C	-0.01%
	CMP	D	-0.01%
	TRTX	B	-0.01%
	SWBI	C	-0.01%
	KRO	C	-0.01%
	SRCL	A	-0.01%
	ZIP	C	-0.01%
	NAPA	A	-0.01%
	CRCT	D	-0.01%
	WOOF	D	-0.01%
	RUSHB	B	-0.01%
	HTZ	D	-0.01%
	INN	D	-0.01%
	VMEO	B	-0.01%
	BJRI	C	-0.01%
	EE	B	-0.01%
	RMR	C	-0.01%
	GRC	B	-0.01%
	NVRI	F	-0.01%
	NABL	F	-0.01%
	USNA	C	-0.01%
	CLB	C	-0.01%
	SSTK	D	-0.01%
	CLBK	B	-0.01%
	CCO	C	-0.01%
	ARRY	F	-0.01%
	GCMG	B	-0.01%
	LGF.A	D	-0.01%
	CWH	C	-0.01%
	BFS	B	-0.01%
	DAWN	B	-0.01%
	PWSC	C	-0.0%
	SCWX	C	-0.0%
	AC	C	-0.0%
	AMCX	D	-0.0%
	TASK	B	-0.0%
	ACDC	D	-0.0%
	LESL	D	-0.0%

VFVA: Top Represented Industries & Keywords

Industries: Banks - Regional - US Oil & Gas E&P Insurance - Property & Casualty Shipping & Ports Asset Management Credit Services Residential Construction Oil & Gas Equipment & Services Auto Parts Software - Application Specialty Retail Chemicals Insurance - Life Apparel Stores Business Services Information Technology Services Specialty Chemicals Steel Diversified Industrials Drug Manufacturers - Specialty & Generic

Keywords: S&P 500 Bank Banking Insurance Deposit Products Natural Gas Commercial Banking Real Estate Loans Chemical Commercial Bank Insurance Products Mining Transport Investment Management Loan Petroleum Industry Life Insurance Computing Nasdaq 100 Retail Store

VBR: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials REIT - Diversified Asset Management REIT - Retail Specialty Chemicals Information Technology Services Software - Application Apparel Manufacturing REIT - Office Biotechnology Oil & Gas E&P Specialty Retail Building Materials Packaging & Containers Packaged Foods Rental & Leasing Services Auto & Truck Dealerships Business Services Engineering & Construction

Keywords: Bank Banking Real Estate Investment Trust S&P 500 Deposit Products Chemical Insurance Mining Natural Gas Real Estate Loans Aerospace Commercial Banking Transport Clothing Telecommunications Construction Electronics Commercial Bank Computing Mortgage Loan