VFVA vs. VFMF ETF Comparison

Comparison of Vanguard Wellington Fund ETF (VFVA) to Vanguard U.S. Multifactor ETF (VFMF)

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

$124.54

Average Daily Volume

12,603

Number of Holdings ^*

613

* may have additional holdings in another (foreign) market

VFMF

Vanguard U.S. Multifactor ETF

VFMF Description

The investment seeks to provide long-term capital appreciation by investing in stocks with relatively strong recent performance, strong fundamentals, and low prices relative to fundamentals 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 strong recent performance, strong fundamentals, and low prices relative to fundamentals 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

$135.88

Average Daily Volume

9,581

Number of Holdings ^*

470

* may have additional holdings in another (foreign) market

Performance

Period	VFVA	VFMF
30 Days	1.15%	1.50%
60 Days	4.32%	4.94%
90 Days	6.63%	7.06%
12 Months	24.57%	30.02%

261 Overlapping Holdings

	Symbol	Grade	Weight in VFVA	Weight in VFMF	Overlap
	ABCB	B	0.16%	0.14%	0.14%
	ACCO	B	0.08%	0.08%	0.08%
	ACT	D	0.03%	0.29%	0.03%
	AEO	F	0.18%	0.17%	0.17%
	AFL	C	0.09%	1.08%	0.09%
	AHCO	D	0.18%	0.19%	0.18%
	AIG	C	0.51%	1.02%	0.51%
	ALKS	C	0.02%	0.17%	0.02%
	ALSN	B	0.16%	0.3%	0.16%
	AMAL	B	0.03%	0.39%	0.03%
	AMG	C	0.21%	0.32%	0.21%
	AMKR	F	0.07%	0.2%	0.07%
	AMR	C	0.2%	0.11%	0.11%
	AMRX	C	0.02%	0.19%	0.02%
	AMWD	C	0.06%	0.2%	0.06%
	ANDE	F	0.12%	0.34%	0.12%
	ANET	C	0.03%	0.5%	0.03%
	APO	A	0.05%	0.74%	0.05%
	ARCB	C	0.08%	0.08%	0.08%
	ARW	F	0.43%	0.09%	0.09%
	ASB	B	0.13%	0.16%	0.13%
	ASC	D	0.14%	0.2%	0.14%
	ASO	F	0.21%	0.24%	0.21%
	ATGE	B	0.11%	0.19%	0.11%
	ATKR	D	0.26%	0.02%	0.02%
	AX	B	0.07%	0.2%	0.07%
	AZO	C	0.26%	0.43%	0.26%
	BAC	A	0.76%	0.16%	0.16%
	BBW	B	0.07%	0.14%	0.07%
	BCC	C	0.07%	0.52%	0.07%
	BELFB	C	0.13%	0.18%	0.13%
	BERY	D	0.38%	0.03%	0.03%
	BG	D	0.27%	0.16%	0.16%
	BHLB	B	0.08%	0.12%	0.08%
	BK	B	0.5%	0.98%	0.5%
	BKU	A	0.15%	0.04%	0.04%
	BLDR	D	0.08%	0.12%	0.08%
	BOKF	B	0.08%	0.19%	0.08%
	BPOP	C	0.06%	0.67%	0.06%
	BRY	F	0.14%	0.03%	0.03%
	BTU	C	0.17%	0.05%	0.05%
	BUSE	B	0.11%	0.02%	0.02%
	BV	C	0.1%	0.16%	0.1%
	BWA	D	0.25%	0.06%	0.06%
	BYD	B	0.18%	0.03%	0.03%
	C	B	0.72%	0.06%	0.06%
	CAH	B	0.26%	0.53%	0.26%
	CAL	F	0.06%	0.2%	0.06%
	CATY	B	0.09%	0.06%	0.06%
	CCRN	F	0.07%	0.03%	0.03%
	CEIX	A	0.14%	0.11%	0.11%
	CF	A	0.18%	0.16%	0.16%
	CFG	B	0.13%	0.57%	0.13%
	CG	B	0.03%	0.07%	0.03%
	CHRD	F	0.18%	0.15%	0.15%
	CI	D	0.66%	0.5%	0.5%
	CIVI	D	0.33%	0.06%	0.06%
	CLW	F	0.11%	0.05%	0.05%
	CMC	B	0.19%	0.14%	0.14%
	CNA	C	0.07%	0.07%	0.07%
	CNO	B	0.04%	0.4%	0.04%
	CNOB	B	0.05%	0.18%	0.05%
	COOP	B	0.13%	0.17%	0.13%
	COP	B	0.65%	0.22%	0.22%
	CRBG	B	0.02%	0.15%	0.02%
	CRC	A	0.15%	0.15%	0.15%
	CROX	F	0.06%	0.2%	0.06%
	CTRA	B	0.19%	0.17%	0.17%
	CVX	A	0.7%	0.33%	0.33%
	DESP	A	0.04%	0.07%	0.04%
	DHI	D	0.31%	0.26%	0.26%
	DHT	D	0.12%	0.15%	0.12%
	DLX	B	0.14%	0.17%	0.14%
	DNOW	B	0.09%	0.12%	0.09%
	DOLE	D	0.12%	0.07%	0.07%
	DXPE	B	0.07%	0.09%	0.07%
	EAT	A	0.08%	0.26%	0.08%
	EBAY	D	0.05%	0.07%	0.05%
	EFSC	B	0.17%	0.04%	0.04%
	EIG	B	0.02%	0.34%	0.02%
	ENS	D	0.12%	0.14%	0.12%
	EOG	A	0.75%	0.51%	0.51%
	EPC	F	0.02%	0.07%	0.02%
	EQH	B	0.07%	0.2%	0.07%
	EWBC	A	0.08%	0.59%	0.08%
	FANG	D	0.3%	0.6%	0.3%
	FCF	B	0.12%	0.25%	0.12%
	FCX	F	0.43%	0.26%	0.26%
	FDP	B	0.11%	0.08%	0.08%
	FDX	B	0.89%	0.54%	0.54%
	FI	A	0.53%	0.51%	0.51%
	FIBK	B	0.07%	0.12%	0.07%
	FNF	A	0.14%	0.23%	0.14%
	FRME	B	0.05%	0.06%	0.05%
	GAP	D	0.1%	0.08%	0.08%
	GEO	A	0.04%	0.04%	0.04%
	GIII	D	0.17%	0.3%	0.17%
	GILD	C	0.44%	0.43%	0.43%
	GM	B	0.87%	0.44%	0.44%
	GNK	D	0.16%	0.16%	0.16%
	GNW	A	0.12%	0.21%	0.12%
	GOGL	C	0.13%	0.06%	0.06%
	GOOG	B	0.06%	0.9%	0.06%
	GPI	B	0.06%	0.03%	0.03%
	GPK	D	0.06%	0.03%	0.03%
	GPOR	A	0.2%	0.09%	0.09%
	GRBK	D	0.05%	0.1%	0.05%
	HAFC	B	0.07%	0.13%	0.07%
	HBI	B	0.09%	0.13%	0.09%
	HCA	F	0.76%	0.82%	0.76%
	HCC	B	0.19%	0.13%	0.13%
	HEES	C	0.08%	0.04%	0.04%
	HFWA	B	0.05%	0.03%	0.03%
	HIG	B	0.07%	0.7%	0.07%
	HOV	D	0.03%	0.04%	0.03%
	HPE	B	0.32%	0.04%	0.04%
	HPQ	B	0.42%	0.19%	0.19%
	HRB	D	0.13%	0.45%	0.13%
	HVT	D	0.09%	0.07%	0.07%
	HWC	B	0.19%	0.12%	0.12%
	IBM	C	0.18%	0.61%	0.18%
	IMKTA	C	0.17%	0.18%	0.17%
	INDB	B	0.07%	0.09%	0.07%
	INGR	B	0.17%	0.35%	0.17%
	INSW	F	0.24%	0.12%	0.12%
	JBL	C	0.03%	0.24%	0.03%
	JEF	A	0.17%	0.19%	0.17%
	JELD	F	0.13%	0.09%	0.09%
	JILL	D	0.03%	0.06%	0.03%
	JNJ	D	0.18%	0.38%	0.18%
	JPM	A	0.54%	0.72%	0.54%
	JXN	C	0.15%	0.1%	0.1%
	KBH	D	0.21%	0.16%	0.16%
	KELYA	F	0.06%	0.36%	0.06%
	KR	B	0.22%	0.73%	0.22%
	LBRT	F	0.05%	0.05%	0.05%
	LEN	D	0.08%	0.07%	0.07%
	LEN	D	0.19%	0.19%	0.19%
	LEN	D	0.08%	0.19%	0.08%
	LEN	D	0.19%	0.07%	0.07%
	LPG	F	0.13%	0.11%	0.11%
	LYB	F	0.3%	0.1%	0.1%
	LZB	B	0.14%	0.07%	0.07%
	M	D	0.22%	0.22%	0.22%
	MAN	F	0.12%	0.02%	0.02%
	MATX	B	0.21%	0.11%	0.11%
	MBIN	F	0.03%	0.22%	0.03%
	MBUU	C	0.15%	0.04%	0.04%
	MCK	A	0.35%	0.71%	0.35%
	MD	C	0.17%	0.05%	0.05%
	MET	A	0.52%	0.05%	0.05%
	MHK	D	0.28%	0.22%	0.22%
	MHO	D	0.19%	0.25%	0.19%
	MLI	B	0.22%	0.71%	0.22%
	MLKN	F	0.07%	0.23%	0.07%
	MMM	D	0.07%	0.9%	0.07%
	MO	A	1.0%	0.78%	0.78%
	MOV	D	0.04%	0.03%	0.03%
	MPC	D	0.56%	0.83%	0.56%
	MRC	B	0.04%	0.17%	0.04%
	MTDR	C	0.18%	0.08%	0.08%
	MTG	D	0.28%	0.71%	0.28%
	MTH	D	0.05%	0.07%	0.05%
	MTUS	D	0.11%	0.07%	0.07%
	MUR	F	0.29%	0.13%	0.13%
	NAT	F	0.12%	0.06%	0.06%
	NAVI	F	0.13%	0.09%	0.09%
	NMIH	D	0.07%	0.31%	0.07%
	NMRK	B	0.16%	0.13%	0.13%
	NOG	B	0.07%	0.05%	0.05%
	NR	C	0.02%	0.14%	0.02%
	NTB	B	0.09%	0.3%	0.09%
	NUE	D	0.38%	0.13%	0.13%
	NX	C	0.09%	0.05%	0.05%
	NXST	C	0.05%	0.04%	0.04%
	OC	A	0.07%	0.44%	0.07%
	OFG	B	0.05%	0.64%	0.05%
	OGN	F	0.15%	0.12%	0.12%
	OMF	A	0.07%	0.46%	0.07%
	OMI	F	0.16%	0.16%	0.16%
	ORI	A	0.13%	0.45%	0.13%
	OVV	C	0.26%	0.07%	0.07%
	PATK	D	0.09%	0.18%	0.09%
	PCAR	C	0.42%	0.13%	0.13%
	PEBO	B	0.11%	0.02%	0.02%
	PFBC	B	0.02%	0.25%	0.02%
	PFG	C	0.06%	0.06%	0.06%
	PHIN	B	0.1%	0.24%	0.1%
	PHM	D	0.11%	0.72%	0.11%
	PINC	B	0.02%	0.18%	0.02%
	PLAB	D	0.12%	0.17%	0.12%
	PM	A	0.13%	0.81%	0.13%
	PPC	B	0.04%	0.2%	0.04%
	PR	B	0.17%	0.16%	0.16%
	PRDO	B	0.28%	0.34%	0.28%
	PRLB	C	0.05%	0.03%	0.03%
	PSX	C	0.71%	0.27%	0.27%
	PUMP	D	0.19%	0.14%	0.14%
	PVH	C	0.21%	0.39%	0.21%
	PYPL	B	0.24%	0.15%	0.15%
	QCOM	F	0.07%	0.82%	0.07%
	QCRH	B	0.03%	0.1%	0.03%
	R	B	0.41%	0.16%	0.16%
	RDN	D	0.28%	0.21%	0.21%
	REVG	B	0.07%	0.18%	0.07%
	REX	D	0.05%	0.11%	0.05%
	RGP	F	0.05%	0.02%	0.02%
	RNR	C	0.2%	0.06%	0.06%
	RRC	B	0.1%	0.03%	0.03%
	RS	B	0.02%	0.11%	0.02%
	RTX	D	0.14%	0.36%	0.14%
	SANM	B	0.07%	0.1%	0.07%
	SB	D	0.08%	0.02%	0.02%
	SCHL	F	0.09%	0.11%	0.09%
	SCSC	B	0.11%	0.15%	0.11%
	SCVL	F	0.03%	0.05%	0.03%
	SD	F	0.1%	0.08%	0.08%
	SKYW	B	0.11%	0.17%	0.11%
	SLM	B	0.03%	0.41%	0.03%
	SLVM	C	0.16%	0.15%	0.15%
	SM	C	0.22%	0.13%	0.13%
	SPTN	F	0.15%	0.11%	0.11%
	SRCE	B	0.08%	0.28%	0.08%
	STBA	B	0.26%	0.16%	0.16%
	STLD	B	0.13%	0.18%	0.13%
	STNG	D	0.19%	0.18%	0.18%
	STT	B	0.02%	0.23%	0.02%
	SXC	A	0.12%	0.16%	0.12%
	SYF	B	0.33%	0.71%	0.33%
	T	A	1.01%	0.77%	0.77%
	TCBK	B	0.06%	0.03%	0.03%
	TEX	D	0.21%	0.18%	0.18%
	TGT	B	0.27%	0.65%	0.27%
	TK	D	0.1%	0.27%	0.1%
	TMHC	B	0.06%	0.18%	0.06%
	TMUS	B	0.3%	0.75%	0.3%
	TNK	F	0.18%	0.14%	0.14%
	TNL	B	0.21%	0.15%	0.15%
	TOL	B	0.16%	0.25%	0.16%
	TPC	C	0.14%	0.26%	0.14%
	TPH	D	0.21%	0.13%	0.13%
	TPR	B	0.04%	0.14%	0.04%
	UA	C	0.04%	0.12%	0.04%
	UFPI	C	0.11%	0.37%	0.11%
	UHS	D	0.16%	0.1%	0.1%
	UNM	A	0.6%	0.28%	0.28%
	UPBD	C	0.07%	0.08%	0.07%
	URBN	C	0.07%	0.12%	0.07%
	USAP	A	0.03%	0.07%	0.03%
	UTHR	C	0.15%	0.37%	0.15%
	VLO	C	0.66%	0.85%	0.66%
	VTRS	A	0.25%	0.04%	0.04%
	VZ	C	0.8%	0.52%	0.52%
	WCC	B	0.2%	0.12%	0.12%
	WFC	A	0.59%	1.25%	0.59%
	WMK	B	0.03%	0.16%	0.03%
	WNC	D	0.04%	0.03%	0.03%
	WTTR	A	0.04%	0.23%	0.04%
	XOM	B	0.86%	0.47%	0.47%
	ZEUS	C	0.07%	0.12%	0.07%
	ZIMV	F	0.03%	0.07%	0.03%

VFVA Overweight 354 Positions Relative to VFMF

	Symbol	Grade	Weight
	CVS	F	0.74%
	TFC	A	0.73%
	USB	B	0.71%
	SLB	C	0.69%
	CMCSA	B	0.68%
	F	C	0.68%
	INTC	C	0.66%
	COF	B	0.66%
	MU	D	0.59%
	OXY	F	0.5%
	CB	C	0.48%
	TRV	A	0.48%
	BMY	A	0.46%
	ESNT	D	0.45%
	GS	B	0.44%
	MDT	D	0.42%
	AL	B	0.41%
	RPRX	F	0.41%
	DIS	B	0.4%
	NEM	D	0.4%
	PFE	F	0.36%
	WMB	A	0.35%
	GT	C	0.34%
	COLB	B	0.34%
	FOX	A	0.33%
	PNC	B	0.33%
	LNC	B	0.32%
	MS	A	0.32%
	CE	F	0.3%
	GTES	A	0.3%
	BDX	F	0.29%
	UAL	A	0.29%
	PRU	B	0.28%
	OI	D	0.27%
	AXS	A	0.26%
	GD	D	0.26%
	ALLY	C	0.25%
	AVT	C	0.25%
	TTMI	B	0.25%
	PRGO	C	0.24%
	SNX	D	0.24%
	CCL	A	0.23%
	ADM	D	0.23%
	MOS	D	0.23%
	ALK	A	0.23%
	DXC	D	0.23%
	HRI	C	0.22%
	FIS	C	0.22%
	APA	F	0.22%
	LEG	F	0.22%
	WBS	A	0.22%
	CNC	F	0.22%
	UHAL	D	0.22%
	BHF	C	0.22%
	WHR	B	0.21%
	WAFD	B	0.21%
	SON	F	0.21%
	PTEN	C	0.21%
	CLF	F	0.21%
	ONB	B	0.21%
	SNV	B	0.2%
	TGNA	B	0.2%
	DBX	C	0.2%
	ZI	D	0.2%
	ACGL	D	0.2%
	TROX	D	0.2%
	DAL	A	0.2%
	SIRI	D	0.2%
	FFBC	B	0.2%
	ADNT	F	0.19%
	KOS	D	0.19%
	IVZ	C	0.19%
	KNX	B	0.19%
	NOV	D	0.19%
	PCRX	C	0.19%
	BMBL	C	0.19%
	KEY	B	0.19%
	LILAK	F	0.19%
	FNB	B	0.19%
	HOG	F	0.18%
	AGCO	F	0.18%
	PBF	D	0.18%
	HAIN	D	0.18%
	MDU	D	0.18%
	CCS	F	0.18%
	BC	D	0.18%
	ODP	F	0.18%
	BBWI	C	0.18%
	HELE	C	0.18%
	WAL	B	0.18%
	MTB	A	0.18%
	CCSI	C	0.18%
	DOW	F	0.18%
	LEA	F	0.17%
	ALL	A	0.17%
	BFH	B	0.17%
	DAR	B	0.17%
	ATSG	A	0.17%
	DAN	F	0.17%
	JAZZ	C	0.17%
	EG	D	0.17%
	DTM	A	0.17%
	GTN	F	0.17%
	RNG	C	0.17%
	ZD	B	0.17%
	EQT	A	0.17%
	LKQ	F	0.16%
	TAP	B	0.16%
	DINO	D	0.16%
	PARR	F	0.16%
	AXL	C	0.16%
	WKC	D	0.16%
	ASIX	C	0.16%
	SEB	F	0.16%
	ZION	B	0.16%
	COMM	D	0.16%
	OCFC	B	0.16%
	KOP	C	0.16%
	BXC	B	0.16%
	CADE	B	0.16%
	GBX	B	0.16%
	CNH	C	0.16%
	SBH	B	0.16%
	CRGY	A	0.16%
	CAG	F	0.16%
	DIN	C	0.15%
	DE	C	0.15%
	GLNG	D	0.15%
	SNDR	B	0.15%
	WWW	A	0.15%
	SJM	D	0.15%
	NUS	C	0.15%
	CMA	B	0.15%
	ABG	B	0.15%
	ST	F	0.15%
	MCB	B	0.15%
	TWI	F	0.15%
	CSCO	B	0.14%
	ELAN	D	0.14%
	SF	B	0.14%
	NWSA	B	0.14%
	IRWD	F	0.14%
	OLN	F	0.14%
	ECVT	C	0.14%
	SNCY	C	0.14%
	RMAX	D	0.14%
	PLTK	B	0.14%
	EMR	A	0.14%
	REZI	A	0.14%
	ALIT	C	0.14%
	APTV	F	0.14%
	TDOC	D	0.13%
	BGS	F	0.13%
	VBTX	B	0.13%
	AR	B	0.13%
	NWL	B	0.13%
	UNFI	B	0.12%
	GDOT	D	0.12%
	QRVO	F	0.12%
	RRX	B	0.12%
	TDS	B	0.12%
	HLX	C	0.12%
	DCOM	A	0.12%
	OZK	B	0.12%
	RPAY	D	0.12%
	CMRE	B	0.12%
	JLL	D	0.12%
	RYI	C	0.12%
	FCNCA	A	0.12%
	BANC	B	0.12%
	APPS	F	0.12%
	HII	F	0.11%
	STNE	F	0.11%
	EYE	C	0.11%
	SASR	B	0.11%
	KMI	A	0.11%
	MTCH	F	0.11%
	PPBI	B	0.11%
	MATV	F	0.11%
	PNFP	B	0.11%
	IART	C	0.11%
	FIVE	F	0.11%
	OMCL	C	0.11%
	JRVR	F	0.11%
	HOPE	B	0.1%
	SCHW	A	0.1%
	RF	A	0.1%
	GPN	C	0.1%
	CSTM	F	0.1%
	FULT	B	0.1%
	SAIC	F	0.1%
	STC	B	0.1%
	LULU	C	0.1%
	KHC	F	0.1%
	FHN	A	0.1%
	RNST	B	0.1%
	CUBI	C	0.1%
	EGBN	B	0.1%
	DLTR	F	0.1%
	EGY	F	0.1%
	CHGG	F	0.1%
	FL	F	0.09%
	MAT	D	0.09%
	SMP	C	0.09%
	VLY	B	0.09%
	GPRE	F	0.09%
	TXT	D	0.09%
	BANR	B	0.09%
	GCO	C	0.09%
	FOXF	F	0.09%
	AUB	B	0.09%
	SATS	C	0.09%
	EMN	D	0.09%
	DNB	B	0.09%
	VAC	C	0.09%
	UVE	A	0.09%
	VTOL	B	0.09%
	BZH	C	0.09%
	NVST	C	0.09%
	TKR	F	0.09%
	MODG	F	0.09%
	WSBC	B	0.08%
	SSB	B	0.08%
	PII	F	0.08%
	SFL	D	0.08%
	RYAM	C	0.08%
	SSNC	C	0.08%
	RJF	A	0.08%
	BOOM	F	0.08%
	CWK	C	0.08%
	GL	C	0.08%
	PLAY	D	0.08%
	NTCT	C	0.08%
	FAF	C	0.08%
	NBTB	B	0.08%
	DVN	F	0.08%
	PBI	B	0.07%
	VSH	F	0.07%
	WYNN	D	0.07%
	OEC	C	0.07%
	KFY	B	0.07%
	SNEX	B	0.07%
	HAL	C	0.07%
	PAGS	F	0.07%
	MTW	C	0.07%
	HLF	C	0.07%
	CXW	B	0.07%
	TRST	B	0.07%
	ELV	F	0.07%
	TRMK	B	0.07%
	TSN	B	0.07%
	NIC	B	0.07%
	VREX	C	0.07%
	HI	C	0.07%
	EBC	B	0.07%
	EMBC	D	0.07%
	COHR	B	0.07%
	JHG	B	0.07%
	LBRDA	C	0.06%
	ALGT	C	0.06%
	CNXC	F	0.06%
	LXU	C	0.06%
	PFS	B	0.06%
	PENN	C	0.06%
	FWRD	D	0.06%
	UIS	C	0.06%
	XRAY	D	0.06%
	NNI	D	0.06%
	DENN	D	0.06%
	OIS	C	0.06%
	BUR	C	0.06%
	SSP	F	0.06%
	REPX	A	0.06%
	VSCO	A	0.06%
	RUSHA	B	0.06%
	ENVA	B	0.05%
	BW	C	0.05%
	GATX	B	0.05%
	LILA	F	0.05%
	WBD	B	0.05%
	GEF	B	0.05%
	BEN	C	0.05%
	XRX	F	0.05%
	FMC	D	0.05%
	NWBI	B	0.05%
	TTEC	F	0.05%
	PFSI	C	0.05%
	GHC	B	0.05%
	MATW	C	0.05%
	TOWN	B	0.05%
	TWLO	A	0.05%
	ASGN	F	0.05%
	HZO	F	0.04%
	GLDD	B	0.04%
	VRNT	D	0.04%
	HNRG	B	0.04%
	MKL	A	0.04%
	AMPY	D	0.04%
	XPOF	B	0.04%
	HUBG	A	0.04%
	NCLH	B	0.04%
	ETWO	F	0.04%
	FFWM	C	0.04%
	THG	A	0.04%
	BLMN	F	0.04%
	RGA	B	0.04%
	RDUS	C	0.04%
	TALO	C	0.04%
	BY	B	0.04%
	CFFN	B	0.04%
	KALU	C	0.04%
	IGT	F	0.03%
	NBHC	B	0.03%
	ESI	B	0.03%
	HY	D	0.03%
	CMCO	C	0.03%
	LC	B	0.03%
	CNDT	D	0.03%
	SWI	B	0.03%
	FF	F	0.03%
	HRTG	C	0.03%
	AMBC	C	0.03%
	INMD	C	0.03%
	WERN	B	0.03%
	SHLS	F	0.03%
	DGX	A	0.03%
	OLPX	D	0.03%
	PTVE	B	0.03%
	FOR	F	0.03%
	DRVN	B	0.03%
	IIIN	D	0.03%
	TBRG	A	0.02%
	CMPR	F	0.02%
	NFBK	B	0.02%
	HGV	C	0.02%
	KODK	B	0.02%
	TITN	D	0.02%
	HDSN	F	0.02%
	UCB	A	0.02%
	BAND	D	0.02%
	BHE	B	0.02%
	TTI	B	0.02%
	DG	F	0.02%
	IP	A	0.02%
	GO	C	0.02%
	VYX	C	0.02%
	CC	D	0.02%
	HOMB	A	0.02%
	BRKL	B	0.02%
	FSLR	F	0.02%
	WRLD	D	0.02%
	MEI	F	0.02%
	PRA	B	0.02%
	OBK	B	0.02%

VFVA Underweight 211 Positions Relative to VFMF

	Symbol	Grade	Weight
	ABBV	F	-0.93%
	AXP	B	-0.82%
	META	C	-0.82%
	AMAT	F	-0.78%
	WMT	A	-0.78%
	LMT	D	-0.64%
	NVDA	A	-0.63%
	KMB	C	-0.59%
	COST	A	-0.52%
	BKNG	A	-0.52%
	KLAC	F	-0.52%
	GOOGL	B	-0.5%
	FBP	B	-0.5%
	CAT	C	-0.48%
	MRK	F	-0.46%
	CL	D	-0.46%
	COLL	F	-0.46%
	TT	A	-0.44%
	TJX	A	-0.42%
	FITB	B	-0.39%
	NWS	A	-0.36%
	CBSH	A	-0.34%
	CBOE	C	-0.34%
	IBOC	B	-0.34%
	WRB	B	-0.33%
	SCS	B	-0.32%
	CPF	B	-0.31%
	CASH	B	-0.3%
	SIG	C	-0.3%
	GFF	B	-0.29%
	PRI	A	-0.28%
	WSM	D	-0.28%
	CALM	A	-0.28%
	AYI	B	-0.26%
	SKX	F	-0.26%
	WSFS	B	-0.24%
	NSIT	F	-0.24%
	CPAY	A	-0.23%
	VIRT	A	-0.23%
	DELL	B	-0.23%
	EME	A	-0.22%
	WFRD	F	-0.22%
	SIGA	F	-0.21%
	LPX	B	-0.21%
	THO	C	-0.21%
	THC	C	-0.2%
	CVCO	A	-0.2%
	SPOT	B	-0.2%
	GMS	B	-0.2%
	PGR	B	-0.2%
	RL	C	-0.19%
	HWKN	B	-0.19%
	BLD	F	-0.19%
	PKG	B	-0.19%
	CRM	B	-0.19%
	VCTR	B	-0.18%
	NVR	D	-0.18%
	PLUS	F	-0.18%
	TILE	B	-0.18%
	COKE	C	-0.18%
	IESC	A	-0.18%
	BLX	B	-0.18%
	HP	C	-0.18%
	URI	B	-0.17%
	AMP	A	-0.17%
	AIT	B	-0.17%
	NTAP	C	-0.17%
	COR	B	-0.17%
	AGO	A	-0.17%
	TBBK	B	-0.16%
	DECK	A	-0.16%
	IDT	B	-0.16%
	CR	A	-0.16%
	FIX	A	-0.16%
	KD	A	-0.16%
	DVA	C	-0.16%
	SFM	A	-0.16%
	KEX	B	-0.16%
	ESAB	C	-0.15%
	PFGC	B	-0.15%
	RMD	C	-0.15%
	KTB	A	-0.15%
	SNA	B	-0.15%
	MEDP	D	-0.15%
	DKS	D	-0.15%
	LDOS	C	-0.15%
	CHCO	B	-0.15%
	WABC	B	-0.14%
	DAKT	B	-0.14%
	FTI	A	-0.14%
	CVLT	B	-0.14%
	ETD	D	-0.14%
	AN	D	-0.14%
	CNXN	D	-0.14%
	MCY	B	-0.14%
	MUSA	B	-0.14%
	LNTH	F	-0.14%
	SPOK	B	-0.13%
	VNT	C	-0.13%
	EXPE	B	-0.13%
	RCL	A	-0.12%
	PTGX	D	-0.12%
	KNTK	A	-0.12%
	ROCK	D	-0.12%
	PSTG	F	-0.12%
	CBU	B	-0.12%
	CPRX	C	-0.12%
	SSD	D	-0.12%
	CTSH	C	-0.12%
	CYH	F	-0.12%
	IMMR	F	-0.12%
	AGX	B	-0.12%
	PH	B	-0.11%
	EXP	B	-0.11%
	HALO	F	-0.11%
	SBSI	B	-0.11%
	CNX	A	-0.11%
	ITRI	B	-0.1%
	GPC	F	-0.1%
	DOX	D	-0.1%
	MPWR	F	-0.1%
	WHD	B	-0.1%
	FLWS	F	-0.1%
	LRN	A	-0.1%
	VERX	A	-0.1%
	CDNA	D	-0.1%
	AZZ	A	-0.1%
	CRVL	A	-0.09%
	GRND	A	-0.09%
	APOG	B	-0.09%
	OXM	F	-0.09%
	SWKS	F	-0.09%
	WLY	B	-0.09%
	MOG.A	B	-0.09%
	PSMT	D	-0.08%
	SFNC	B	-0.08%
	HSTM	A	-0.08%
	CACI	C	-0.07%
	WMS	F	-0.07%
	CTAS	B	-0.07%
	PLPC	B	-0.07%
	BBSI	B	-0.07%
	HIMS	C	-0.07%
	JWN	C	-0.07%
	STRL	A	-0.07%
	NTGR	A	-0.07%
	IDCC	B	-0.07%
	VFC	C	-0.07%
	CNM	C	-0.07%
	RES	F	-0.07%
	CSL	C	-0.07%
	FN	B	-0.06%
	NHC	B	-0.06%
	UTI	A	-0.06%
	LOPE	B	-0.06%
	CENTA	C	-0.06%
	FLO	D	-0.06%
	WU	F	-0.06%
	CRUS	F	-0.06%
	HNI	B	-0.06%
	AMZN	B	-0.06%
	AGM	B	-0.06%
	OSUR	F	-0.05%
	TCBI	B	-0.05%
	GRNT	B	-0.05%
	BKE	B	-0.05%
	UFPT	C	-0.05%
	BBY	D	-0.05%
	SN	D	-0.05%
	BJ	B	-0.05%
	DASH	A	-0.05%
	CASY	A	-0.05%
	ZUMZ	C	-0.05%
	SUPN	B	-0.05%
	CBT	C	-0.05%
	YOU	D	-0.05%
	PRK	B	-0.05%
	ADMA	C	-0.05%
	CRS	A	-0.05%
	LQDT	A	-0.05%
	OSBC	B	-0.05%
	LYTS	A	-0.05%
	SMLR	B	-0.04%
	CTS	C	-0.04%
	WGO	D	-0.04%
	GOLF	B	-0.04%
	HSII	B	-0.04%
	STGW	B	-0.04%
	SXI	B	-0.04%
	KFRC	D	-0.04%
	MCRI	A	-0.04%
	MGY	A	-0.04%
	NSSC	F	-0.04%
	TNC	F	-0.04%
	SHOO	D	-0.04%
	WEX	F	-0.04%
	PRMW	C	-0.04%
	CRAI	B	-0.04%
	ATEN	A	-0.03%
	UVSP	B	-0.03%
	BSIG	A	-0.03%
	STRA	C	-0.03%
	KMT	C	-0.03%
	EPAC	B	-0.03%
	TPL	A	-0.03%
	DDS	B	-0.03%
	INGN	C	-0.02%
	VRA	D	-0.02%
	FFIV	B	-0.02%
	ADTN	A	-0.02%
	MBWM	B	-0.02%

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

VFMF: Top Represented Industries & Keywords

Industries: Banks - Regional - US Oil & Gas E&P Specialty Retail Residential Construction Shipping & Ports Asset Management Building Materials Oil & Gas Equipment & Services Apparel Manufacturing Credit Services Diversified Industrials Apparel Stores Business Services Electronic Components Software - Application Steel Banks - Global Biotechnology Education & Training Services Engineering & Construction

Keywords: S&P 500 Bank Banking Deposit Products Insurance Clothing Computing Construction Mining Natural Gas Nasdaq 100 Aerospace Building Materials Chemical Retail Store Commercial Banking Electronics Fashion Insurance Products Investment Management