VLU vs. DTD ETF Comparison

Comparison of SPDR S&P 1500 Value Tilt ETF (VLU) to WisdomTree Total Dividend Fund (DTD)

VLU

SPDR S&P 1500 Value Tilt ETF

VLU Description

The investment seeks investment results that, before fees and expenses, correspond generally to the total return performance of the S&P 1500 Low Valuation Tilt Index (the "index"). The fund employs a sampling strategy in seeking to track the index. It generally invests substantially all, but at least 80%, of its total assets in the securities. The index applies an alternative weighting methodology to the S&P Composite 1500 Index so that stocks with relatively low valuations are overweight relative to the S&P Composite 1500 Index and stocks with relatively high valuations are underweight. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$189.56

Average Daily Volume

7,982

Number of Holdings ^*

1418

* may have additional holdings in another (foreign) market

DTD

WisdomTree Total Dividend Fund

DTD Description

The investment seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Dividend Index. The fund invests at least 95% of its total assets (exclusive of collateral held from securities lending) in component securities of the index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. The WisdomTree Dividend Index is a fundamentally-weighted index that defines the dividend-paying portion of the U.S. stock market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$78.21

Average Daily Volume

23,869

Number of Holdings ^*

811

* may have additional holdings in another (foreign) market

Performance

Period	VLU	DTD
30 Days	1.16%	-0.02%
60 Days	4.94%	3.90%
90 Days	7.27%	6.48%
12 Months	29.99%	30.20%

719 Overlapping Holdings

	Symbol	Grade	Weight in VLU	Weight in DTD	Overlap
	A	D	0.03%	0.03%	0.03%
	AAON	A	0.0%	0.01%	0.0%
	AAPL	C	2.41%	3.03%	2.41%
	ABBV	F	0.45%	1.97%	0.45%
	ABM	B	0.03%	0.01%	0.01%
	ABT	B	0.24%	0.42%	0.24%
	ACM	B	0.03%	0.02%	0.02%
	ADC	A	0.02%	0.01%	0.01%
	ADI	D	0.14%	0.21%	0.14%
	ADM	D	0.21%	0.08%	0.08%
	ADP	B	0.09%	0.34%	0.09%
	AEE	A	0.08%	0.12%	0.08%
	AEO	F	0.01%	0.01%	0.01%
	AEP	C	0.16%	0.24%	0.16%
	AFG	A	0.08%	0.03%	0.03%
	AFL	C	0.2%	0.26%	0.2%
	AGCO	D	0.03%	0.01%	0.01%
	AIG	B	0.24%	0.13%	0.13%
	AIT	A	0.02%	0.04%	0.02%
	AIZ	A	0.04%	0.03%	0.03%
	AJG	A	0.05%	0.07%	0.05%
	AL	A	0.04%	0.02%	0.02%
	ALB	C	0.04%	0.02%	0.02%
	ALE	A	0.02%	0.03%	0.02%
	ALL	A	0.15%	0.15%	0.15%
	ALLY	C	0.09%	0.05%	0.05%
	AM	A	0.02%	0.06%	0.02%
	AMAT	F	0.12%	0.14%	0.12%
	AME	A	0.04%	0.05%	0.04%
	AMGN	D	0.26%	0.55%	0.26%
	AMH	C	0.02%	0.02%	0.02%
	AMKR	F	0.02%	0.01%	0.01%
	AMP	A	0.12%	0.14%	0.12%
	AMSF	A	0.0%	0.01%	0.0%
	AMT	D	0.13%	0.27%	0.13%
	AOS	F	0.01%	0.02%	0.01%
	APA	F	0.04%	0.02%	0.02%
	APD	A	0.14%	0.19%	0.14%
	APH	B	0.06%	0.15%	0.06%
	APOG	B	0.01%	0.02%	0.01%
	ARE	D	0.05%	0.07%	0.05%
	ARMK	C	0.05%	0.02%	0.02%
	AROC	A	0.01%	0.03%	0.01%
	ASB	A	0.03%	0.04%	0.03%
	ASH	F	0.01%	0.01%	0.01%
	ATO	A	0.07%	0.1%	0.07%
	ATR	B	0.01%	0.03%	0.01%
	AUB	A	0.02%	0.03%	0.02%
	AVA	C	0.01%	0.03%	0.01%
	AVB	A	0.07%	0.16%	0.07%
	AVGO	C	0.46%	2.39%	0.46%
	AVNT	A	0.02%	0.02%	0.02%
	AVT	C	0.04%	0.02%	0.02%
	AVY	D	0.02%	0.03%	0.02%
	AWI	A	0.01%	0.02%	0.01%
	AWK	C	0.05%	0.06%	0.05%
	AWR	A	0.01%	0.03%	0.01%
	AXP	A	0.35%	0.32%	0.32%
	AZZ	B	0.01%	0.01%	0.01%
	BAC	A	1.49%	1.22%	1.22%
	BALL	D	0.04%	0.03%	0.03%
	BANC	A	0.02%	0.02%	0.02%
	BANF	A	0.02%	0.03%	0.02%
	BANR	A	0.02%	0.03%	0.02%
	BBWI	C	0.02%	0.02%	0.02%
	BBY	C	0.15%	0.11%	0.11%
	BC	D	0.02%	0.02%	0.02%
	BCO	F	0.01%	0.01%	0.01%
	BDX	F	0.08%	0.12%	0.08%
	BEN	C	0.05%	0.06%	0.05%
	BERY	D	0.04%	0.02%	0.02%
	BFH	A	0.03%	0.02%	0.02%
	BGS	F	0.0%	0.0%	0.0%
	BHE	B	0.02%	0.01%	0.01%
	BK	A	0.28%	0.23%	0.23%
	BKE	A	0.01%	0.02%	0.01%
	BKH	A	0.03%	0.04%	0.03%
	BKNG	A	0.12%	0.3%	0.12%
	BKR	A	0.12%	0.12%	0.12%
	BKU	A	0.03%	0.01%	0.01%
	BLMN	F	0.01%	0.01%	0.01%
	BMI	B	0.0%	0.01%	0.0%
	BMY	B	0.34%	0.57%	0.34%
	BOH	A	0.01%	0.01%	0.01%
	BR	A	0.02%	0.07%	0.02%
	BRC	C	0.01%	0.02%	0.01%
	BRKL	A	0.01%	0.02%	0.01%
	BRKR	F	0.01%	0.01%	0.01%
	BRO	B	0.04%	0.04%	0.04%
	BRX	A	0.03%	0.04%	0.03%
	BTU	B	0.03%	0.01%	0.01%
	BWA	A	0.07%	0.02%	0.02%
	BWXT	A	0.01%	0.03%	0.01%
	BX	A	0.13%	0.39%	0.13%
	BYD	A	0.02%	0.02%	0.02%
	C	A	1.11%	0.63%	0.63%
	CABO	B	0.02%	0.01%	0.01%
	CADE	A	0.03%	0.02%	0.02%
	CAG	F	0.07%	0.07%	0.07%
	CAH	B	0.25%	0.07%	0.07%
	CAKE	A	0.01%	0.02%	0.01%
	CARR	D	0.08%	0.1%	0.08%
	CASY	B	0.03%	0.02%	0.02%
	CAT	B	0.25%	0.45%	0.25%
	CATY	A	0.03%	0.03%	0.03%
	CBOE	D	0.03%	0.05%	0.03%
	CBSH	A	0.02%	0.02%	0.02%
	CBT	C	0.02%	0.03%	0.02%
	CBU	A	0.01%	0.02%	0.01%
	CC	C	0.01%	0.01%	0.01%
	CCI	D	0.1%	0.22%	0.1%
	CCK	D	0.03%	0.01%	0.01%
	CCOI	B	0.01%	0.03%	0.01%
	CCS	F	0.01%	0.02%	0.01%
	CDW	F	0.03%	0.03%	0.03%
	CE	F	0.03%	0.02%	0.02%
	CEG	D	0.04%	0.08%	0.04%
	CF	A	0.06%	0.04%	0.04%
	CFFN	A	0.01%	0.01%	0.01%
	CFR	A	0.03%	0.04%	0.03%
	CG	B	0.02%	0.08%	0.02%
	CHCO	A	0.01%	0.01%	0.01%
	CHD	A	0.03%	0.04%	0.03%
	CHDN	C	0.01%	0.01%	0.01%
	CHE	D	0.01%	0.01%	0.01%
	CHH	A	0.01%	0.01%	0.01%
	CHRD	F	0.07%	0.04%	0.04%
	CHRW	A	0.06%	0.04%	0.04%
	CHX	C	0.01%	0.01%	0.01%
	CI	D	0.33%	0.21%	0.21%
	CINF	A	0.07%	0.08%	0.07%
	CIVI	F	0.04%	0.04%	0.04%
	CL	D	0.09%	0.3%	0.09%
	CLX	A	0.03%	0.07%	0.03%
	CMA	A	0.08%	0.06%	0.06%
	CMC	B	0.03%	0.02%	0.02%
	CMCSA	B	0.64%	0.88%	0.64%
	CME	A	0.1%	0.19%	0.1%
	CMI	A	0.13%	0.17%	0.13%
	CMS	C	0.05%	0.07%	0.05%
	CNO	A	0.04%	0.03%	0.03%
	CNP	A	0.07%	0.05%	0.05%
	CNXC	F	0.02%	0.01%	0.01%
	COF	A	0.6%	0.16%	0.16%
	COKE	C	0.03%	0.01%	0.01%
	COLB	A	0.05%	0.03%	0.03%
	COLM	B	0.01%	0.01%	0.01%
	COP	C	0.41%	0.32%	0.32%
	COR	B	0.37%	0.07%	0.07%
	COST	B	0.28%	0.44%	0.28%
	CPB	D	0.04%	0.05%	0.04%
	CPK	A	0.01%	0.01%	0.01%
	CPT	D	0.04%	0.03%	0.03%
	CRC	B	0.02%	0.02%	0.02%
	CRI	D	0.01%	0.02%	0.01%
	CRM	A	0.26%	0.25%	0.25%
	CRS	A	0.02%	0.01%	0.01%
	CSCO	B	0.51%	1.3%	0.51%
	CSL	B	0.03%	0.04%	0.03%
	CSX	B	0.1%	0.11%	0.1%
	CTAS	B	0.04%	0.15%	0.04%
	CTSH	B	0.11%	0.08%	0.08%
	CUBE	C	0.02%	0.06%	0.02%
	CVBF	A	0.02%	0.02%	0.02%
	CVI	D	0.0%	0.01%	0.0%
	CVS	F	0.61%	0.25%	0.25%
	CVX	A	1.32%	1.51%	1.32%
	CWEN	D	0.02%	0.01%	0.01%
	CWEN	D	0.02%	0.02%	0.02%
	CWEN	D	0.01%	0.01%	0.01%
	CWEN	D	0.01%	0.02%	0.01%
	CXT	D	0.0%	0.01%	0.0%
	D	C	0.23%	0.32%	0.23%
	DAL	A	0.33%	0.05%	0.05%
	DAN	F	0.01%	0.01%	0.01%
	DCI	B	0.01%	0.03%	0.01%
	DD	D	0.18%	0.09%	0.09%
	DE	D	0.22%	0.18%	0.18%
	DFS	A	0.16%	0.13%	0.13%
	DGX	A	0.05%	0.04%	0.04%
	DHI	D	0.11%	0.06%	0.06%
	DHR	D	0.11%	0.14%	0.11%
	DINO	D	0.06%	0.03%	0.03%
	DIS	A	0.27%	0.17%	0.17%
	DKS	D	0.03%	0.04%	0.03%
	DLB	D	0.01%	0.01%	0.01%
	DLR	A	0.04%	0.17%	0.04%
	DLX	A	0.01%	0.01%	0.01%
	DOV	A	0.04%	0.06%	0.04%
	DOW	F	0.17%	0.19%	0.17%
	DPZ	C	0.01%	0.03%	0.01%
	DRI	B	0.04%	0.11%	0.04%
	DTE	C	0.09%	0.09%	0.09%
	DTM	A	0.03%	0.05%	0.03%
	DUK	C	0.32%	0.39%	0.32%
	EA	A	0.05%	0.04%	0.04%
	EBAY	D	0.08%	0.09%	0.08%
	ECL	D	0.04%	0.13%	0.04%
	ED	D	0.12%	0.19%	0.12%
	EFX	F	0.02%	0.03%	0.02%
	EGBN	A	0.01%	0.02%	0.01%
	EGP	D	0.01%	0.01%	0.01%
	EHC	B	0.02%	0.03%	0.02%
	EIX	C	0.1%	0.15%	0.1%
	ELS	B	0.02%	0.02%	0.02%
	ELV	F	0.31%	0.13%	0.13%
	EME	B	0.03%	0.01%	0.01%
	EMN	C	0.04%	0.05%	0.04%
	EMR	A	0.16%	0.19%	0.16%
	ENR	A	0.01%	0.01%	0.01%
	ENS	D	0.01%	0.01%	0.01%
	EOG	A	0.22%	0.41%	0.22%
	EPC	F	0.01%	0.01%	0.01%
	EPR	D	0.01%	0.02%	0.01%
	EQH	B	0.07%	0.05%	0.05%
	EQIX	B	0.07%	0.16%	0.07%
	EQR	C	0.08%	0.1%	0.08%
	EQT	A	0.12%	0.07%	0.07%
	ERIE	F	0.02%	0.04%	0.02%
	ES	C	0.08%	0.11%	0.08%
	ESS	A	0.04%	0.06%	0.04%
	ETR	A	0.15%	0.22%	0.15%
	EVR	A	0.02%	0.05%	0.02%
	EVRG	A	0.07%	0.08%	0.07%
	EWBC	A	0.05%	0.06%	0.05%
	EXC	C	0.19%	0.15%	0.15%
	EXP	B	0.01%	0.02%	0.01%
	EXPD	D	0.04%	0.03%	0.03%
	EXPO	D	0.0%	0.01%	0.0%
	EXR	C	0.04%	0.15%	0.04%
	FAF	C	0.03%	0.03%	0.03%
	FANG	D	0.11%	0.09%	0.09%
	FAST	B	0.04%	0.19%	0.04%
	FBIN	D	0.02%	0.02%	0.02%
	FBP	A	0.01%	0.03%	0.01%
	FCF	A	0.01%	0.02%	0.01%
	FCPT	C	0.01%	0.02%	0.01%
	FDS	A	0.01%	0.02%	0.01%
	FDX	A	0.24%	0.16%	0.16%
	FE	C	0.06%	0.11%	0.06%
	FFBC	A	0.02%	0.02%	0.02%
	FFIN	A	0.01%	0.01%	0.01%
	FHB	A	0.02%	0.04%	0.02%
	FIS	B	0.1%	0.21%	0.1%
	FITB	A	0.12%	0.16%	0.12%
	FIX	A	0.01%	0.01%	0.01%
	FLO	D	0.02%	0.03%	0.02%
	FLS	A	0.02%	0.03%	0.02%
	FNB	A	0.03%	0.04%	0.03%
	FNF	C	0.07%	0.07%	0.07%
	FOX	A	0.05%	0.05%	0.05%
	FR	D	0.01%	0.02%	0.01%
	FRT	B	0.01%	0.04%	0.01%
	FTV	D	0.03%	0.03%	0.03%
	FULT	A	0.02%	0.02%	0.02%
	GAP	C	0.04%	0.03%	0.03%
	GATX	A	0.02%	0.01%	0.01%
	GBCI	A	0.02%	0.02%	0.02%
	GBX	A	0.02%	0.01%	0.01%
	GD	D	0.22%	0.2%	0.2%
	GE	D	0.27%	0.16%	0.16%
	GEF	A	0.02%	0.02%	0.02%
	GEHC	D	0.03%	0.03%	0.03%
	GEN	B	0.05%	0.05%	0.05%
	GES	F	0.0%	0.01%	0.0%
	GGG	A	0.01%	0.02%	0.01%
	GILD	B	0.38%	0.47%	0.38%
	GIS	D	0.1%	0.16%	0.1%
	GL	B	0.04%	0.01%	0.01%
	GLPI	D	0.04%	0.06%	0.04%
	GLW	B	0.1%	0.17%	0.1%
	GM	A	0.53%	0.11%	0.11%
	GNTX	C	0.01%	0.02%	0.01%
	GOOG	B	1.2%	0.57%	0.57%
	GOOGL	B	0.75%	0.87%	0.75%
	GPC	D	0.05%	0.06%	0.05%
	GPK	D	0.03%	0.03%	0.03%
	GPN	B	0.06%	0.03%	0.03%
	GS	A	0.57%	0.69%	0.57%
	GTY	C	0.01%	0.02%	0.01%
	GWW	A	0.06%	0.1%	0.06%
	HAFC	A	0.01%	0.02%	0.01%
	HAL	C	0.07%	0.05%	0.05%
	HBAN	A	0.12%	0.13%	0.12%
	HCA	D	0.18%	0.11%	0.11%
	HD	A	0.5%	1.78%	0.5%
	HES	B	0.06%	0.06%	0.06%
	HI	C	0.01%	0.01%	0.01%
	HIG	C	0.13%	0.13%	0.13%
	HII	F	0.02%	0.02%	0.02%
	HLI	A	0.01%	0.04%	0.01%
	HLT	A	0.02%	0.06%	0.02%
	HMN	A	0.01%	0.01%	0.01%
	HNI	A	0.01%	0.02%	0.01%
	HOG	D	0.02%	0.01%	0.01%
	HOMB	A	0.02%	0.03%	0.02%
	HON	A	0.21%	0.53%	0.21%
	HP	C	0.03%	0.01%	0.01%
	HPE	B	0.24%	0.08%	0.08%
	HPQ	B	0.31%	0.15%	0.15%
	HRB	D	0.03%	0.05%	0.03%
	HRL	D	0.07%	0.07%	0.07%
	HST	D	0.04%	0.04%	0.04%
	HSY	F	0.05%	0.08%	0.05%
	HTH	B	0.01%	0.02%	0.01%
	HUBB	B	0.03%	0.05%	0.03%
	HUM	F	0.17%	0.03%	0.03%
	HWC	A	0.03%	0.02%	0.02%
	HWM	A	0.04%	0.04%	0.04%
	HXL	F	0.01%	0.01%	0.01%
	IBKR	A	0.05%	0.02%	0.02%
	IBM	D	0.43%	1.21%	0.43%
	IBOC	A	0.02%	0.02%	0.02%
	IBP	F	0.01%	0.01%	0.01%
	IBTX	A	0.02%	0.02%	0.02%
	ICE	D	0.11%	0.21%	0.11%
	IDA	A	0.02%	0.02%	0.02%
	IDCC	A	0.01%	0.02%	0.01%
	IEX	B	0.01%	0.02%	0.01%
	IIPR	F	0.01%	0.01%	0.01%
	INGR	B	0.04%	0.05%	0.04%
	INTU	A	0.06%	0.17%	0.06%
	INVH	D	0.04%	0.05%	0.04%
	IOSP	C	0.01%	0.02%	0.01%
	IP	A	0.17%	0.1%	0.1%
	IPAR	C	0.0%	0.02%	0.0%
	IPG	F	0.04%	0.06%	0.04%
	IR	A	0.02%	0.05%	0.02%
	IRDM	C	0.0%	0.01%	0.0%
	IRM	D	0.04%	0.11%	0.04%
	ITT	A	0.01%	0.04%	0.01%
	ITW	B	0.09%	0.31%	0.09%
	J	D	0.04%	0.02%	0.02%
	JBHT	B	0.03%	0.02%	0.02%
	JBL	C	0.05%	0.02%	0.02%
	JBT	B	0.01%	0.01%	0.01%
	JEF	A	0.06%	0.07%	0.06%
	JJSF	C	0.01%	0.01%	0.01%
	JKHY	D	0.01%	0.02%	0.01%
	JNJ	D	0.79%	1.83%	0.79%
	JNPR	D	0.03%	0.05%	0.03%
	JPM	A	1.46%	3.09%	1.46%
	JWN	A	0.02%	0.03%	0.02%
	JXN	B	0.07%	0.06%	0.06%
	K	B	0.08%	0.13%	0.08%
	KALU	C	0.01%	0.01%	0.01%
	KBH	D	0.02%	0.03%	0.02%
	KBR	D	0.02%	0.01%	0.01%
	KDP	D	0.12%	0.14%	0.12%
	KFY	B	0.01%	0.02%	0.01%
	KHC	F	0.25%	0.21%	0.21%
	KIM	A	0.04%	0.05%	0.04%
	KLAC	F	0.05%	0.1%	0.05%
	KLG	F	0.01%	0.01%	0.01%
	KMB	C	0.1%	0.26%	0.1%
	KMPR	A	0.01%	0.02%	0.01%
	KMT	B	0.01%	0.02%	0.01%
	KNSL	C	0.0%	0.01%	0.0%
	KO	D	0.37%	1.4%	0.37%
	KR	B	0.34%	0.16%	0.16%
	KRC	C	0.04%	0.01%	0.01%
	KSS	F	0.02%	0.01%	0.01%
	KTB	A	0.02%	0.03%	0.02%
	KVUE	A	0.22%	0.19%	0.19%
	KW	C	0.01%	0.0%	0.0%
	KWR	C	0.01%	0.01%	0.01%
	L	A	0.13%	0.01%	0.01%
	LAD	A	0.09%	0.02%	0.02%
	LAMR	D	0.03%	0.06%	0.03%
	LANC	D	0.01%	0.02%	0.01%
	LBRT	F	0.01%	0.01%	0.01%
	LCII	D	0.01%	0.02%	0.01%
	LDOS	C	0.05%	0.04%	0.04%
	LEA	F	0.05%	0.01%	0.01%
	LECO	C	0.01%	0.03%	0.01%
	LEG	F	0.01%	0.01%	0.01%
	LEN	D	0.13%	0.06%	0.06%
	LFUS	D	0.01%	0.01%	0.01%
	LH	B	0.06%	0.03%	0.03%
	LHX	B	0.1%	0.12%	0.1%
	LII	B	0.02%	0.05%	0.02%
	LKQ	D	0.03%	0.03%	0.03%
	LLY	F	0.2%	0.63%	0.2%
	LMT	D	0.33%	0.45%	0.33%
	LNC	A	0.05%	0.05%	0.05%
	LNT	A	0.04%	0.06%	0.04%
	LOW	A	0.23%	0.57%	0.23%
	LPX	A	0.02%	0.02%	0.02%
	LRCX	F	0.08%	0.12%	0.08%
	LSTR	D	0.01%	0.02%	0.01%
	LUV	A	0.16%	0.06%	0.06%
	LVS	C	0.07%	0.08%	0.07%
	LW	C	0.01%	0.02%	0.01%
	LXP	D	0.01%	0.01%	0.01%
	LZB	A	0.01%	0.01%	0.01%
	M	C	0.04%	0.02%	0.02%
	MA	A	0.13%	0.45%	0.13%
	MAA	A	0.04%	0.06%	0.04%
	MAC	A	0.02%	0.0%	0.0%
	MAN	F	0.03%	0.01%	0.01%
	MAR	A	0.09%	0.15%	0.09%
	MAS	D	0.03%	0.05%	0.03%
	MATX	B	0.02%	0.02%	0.02%
	MC	B	0.01%	0.03%	0.01%
	MCD	D	0.15%	0.83%	0.15%
	MCHP	F	0.05%	0.07%	0.05%
	MCK	A	0.39%	0.08%	0.08%
	MCO	C	0.04%	0.11%	0.04%
	MCRI	A	0.01%	0.01%	0.01%
	MCY	A	0.02%	0.02%	0.02%
	MDLZ	F	0.18%	0.37%	0.18%
	MDU	D	0.02%	0.02%	0.02%
	MET	A	0.41%	0.22%	0.22%
	META	C	1.78%	0.92%	0.92%
	MGEE	A	0.01%	0.02%	0.01%
	MGY	A	0.02%	0.02%	0.02%
	MKC	D	0.04%	0.06%	0.04%
	MKSI	D	0.01%	0.01%	0.01%
	MKTX	C	0.01%	0.01%	0.01%
	MLI	B	0.03%	0.04%	0.03%
	MLKN	F	0.01%	0.01%	0.01%
	MLM	B	0.03%	0.04%	0.03%
	MMC	C	0.12%	0.25%	0.12%
	MMS	D	0.02%	0.01%	0.01%
	MO	A	0.34%	0.7%	0.34%
	MORN	B	0.01%	0.01%	0.01%
	MOS	D	0.08%	0.02%	0.02%
	MPC	D	0.44%	0.22%	0.22%
	MPWR	F	0.01%	0.03%	0.01%
	MRK	F	0.31%	0.79%	0.31%
	MRO	A	0.08%	0.04%	0.04%
	MRTN	C	0.0%	0.02%	0.0%
	MS	A	0.6%	1.03%	0.6%
	MSA	D	0.0%	0.01%	0.0%
	MSCI	A	0.01%	0.05%	0.01%
	MSFT	D	1.43%	2.78%	1.43%
	MSI	A	0.04%	0.15%	0.04%
	MSM	C	0.02%	0.03%	0.02%
	MTB	A	0.17%	0.16%	0.16%
	MTDR	C	0.03%	0.01%	0.01%
	MTG	C	0.02%	0.04%	0.02%
	MTN	C	0.01%	0.03%	0.01%
	MU	D	0.15%	0.08%	0.08%
	MUR	F	0.04%	0.02%	0.02%
	MUSA	A	0.04%	0.01%	0.01%
	NAVI	D	0.01%	0.01%	0.01%
	NBHC	A	0.01%	0.02%	0.01%
	NDAQ	A	0.07%	0.07%	0.07%
	NDSN	B	0.02%	0.02%	0.02%
	NEU	C	0.01%	0.02%	0.01%
	NFG	A	0.03%	0.03%	0.03%
	NI	A	0.06%	0.06%	0.06%
	NJR	A	0.01%	0.02%	0.01%
	NKE	D	0.12%	0.14%	0.12%
	NNN	D	0.02%	0.04%	0.02%
	NOC	D	0.15%	0.14%	0.14%
	NOG	A	0.04%	0.02%	0.02%
	NOV	D	0.02%	0.01%	0.01%
	NRG	B	0.06%	0.07%	0.06%
	NSA	C	0.01%	0.02%	0.01%
	NSC	B	0.13%	0.16%	0.13%
	NSP	F	0.01%	0.01%	0.01%
	NTAP	D	0.04%	0.08%	0.04%
	NTRS	A	0.08%	0.09%	0.08%
	NUE	D	0.12%	0.05%	0.05%
	NVDA	B	0.37%	2.38%	0.37%
	NWE	C	0.02%	0.04%	0.02%
	NWS	A	0.01%	0.0%	0.0%
	NWSA	B	0.03%	0.03%	0.03%
	NXST	D	0.03%	0.03%	0.03%
	NYT	D	0.01%	0.02%	0.01%
	O	D	0.11%	0.25%	0.11%
	OC	A	0.05%	0.04%	0.04%
	ODFL	B	0.03%	0.04%	0.03%
	OFG	B	0.01%	0.03%	0.01%
	OGE	A	0.03%	0.06%	0.03%
	OGN	F	0.03%	0.03%	0.03%
	OGS	A	0.03%	0.03%	0.03%
	OKE	A	0.13%	0.38%	0.13%
	OLED	F	0.01%	0.01%	0.01%
	OLN	F	0.02%	0.01%	0.01%
	OMC	C	0.06%	0.08%	0.06%
	ONB	B	0.03%	0.02%	0.02%
	ORA	B	0.01%	0.01%	0.01%
	ORCL	A	0.45%	0.74%	0.45%
	ORI	A	0.04%	0.07%	0.04%
	OSK	C	0.02%	0.02%	0.02%
	OTIS	D	0.04%	0.1%	0.04%
	OTTR	C	0.01%	0.02%	0.01%
	OVV	C	0.09%	0.04%	0.04%
	OXM	F	0.0%	0.01%	0.0%
	OXY	F	0.17%	0.07%	0.07%
	OZK	A	0.04%	0.03%	0.03%
	PAG	A	0.03%	0.03%	0.03%
	PATK	C	0.01%	0.03%	0.01%
	PAYC	B	0.01%	0.01%	0.01%
	PAYX	B	0.06%	0.25%	0.06%
	PB	A	0.03%	0.03%	0.03%
	PBF	D	0.03%	0.01%	0.01%
	PBI	C	0.01%	0.01%	0.01%
	PCAR	B	0.12%	0.29%	0.12%
	PCG	A	0.12%	0.04%	0.04%
	PCH	D	0.01%	0.01%	0.01%
	PDCO	F	0.01%	0.01%	0.01%
	PEG	C	0.13%	0.26%	0.13%
	PEP	F	0.34%	1.12%	0.34%
	PFBC	A	0.01%	0.01%	0.01%
	PFG	C	0.16%	0.09%	0.09%
	PFS	A	0.02%	0.03%	0.02%
	PG	C	0.46%	1.61%	0.46%
	PGR	B	0.18%	0.13%	0.13%
	PH	A	0.09%	0.2%	0.09%
	PHIN	A	0.01%	0.01%	0.01%
	PHM	D	0.06%	0.05%	0.05%
	PII	F	0.02%	0.02%	0.02%
	PINC	B	0.01%	0.02%	0.01%
	PKG	B	0.05%	0.11%	0.05%
	PLD	D	0.13%	0.33%	0.13%
	PM	A	0.54%	1.16%	0.54%
	PNC	A	0.4%	0.39%	0.39%
	PNFP	A	0.03%	0.01%	0.01%
	PNM	B	0.02%	0.03%	0.02%
	PNW	A	0.05%	0.08%	0.05%
	POOL	D	0.01%	0.02%	0.01%
	POR	D	0.02%	0.03%	0.02%
	POWI	D	0.0%	0.0%	0.0%
	POWL	C	0.01%	0.01%	0.01%
	PPG	F	0.06%	0.08%	0.06%
	PPL	A	0.09%	0.1%	0.09%
	PR	C	0.03%	0.02%	0.02%
	PRDO	B	0.01%	0.01%	0.01%
	PRGS	B	0.0%	0.02%	0.0%
	PRI	A	0.02%	0.03%	0.02%
	PRK	A	0.01%	0.01%	0.01%
	PRU	A	0.38%	0.25%	0.25%
	PSA	C	0.07%	0.25%	0.07%
	PSX	C	0.45%	0.2%	0.2%
	PTEN	D	0.01%	0.01%	0.01%
	PWR	A	0.04%	0.04%	0.04%
	PZZA	D	0.0%	0.01%	0.0%
	QCOM	F	0.23%	0.42%	0.23%
	R	A	0.06%	0.03%	0.03%
	RDN	C	0.03%	0.04%	0.03%
	REG	A	0.04%	0.02%	0.02%
	RF	A	0.11%	0.15%	0.11%
	RGA	A	0.12%	0.06%	0.06%
	RGLD	C	0.01%	0.02%	0.01%
	RHI	B	0.02%	0.02%	0.02%
	RJF	A	0.06%	0.06%	0.06%
	RL	B	0.03%	0.03%	0.03%
	RLI	A	0.01%	0.01%	0.01%
	RMD	C	0.03%	0.04%	0.03%
	RNST	A	0.02%	0.02%	0.02%
	ROK	A	0.04%	0.06%	0.04%
	ROL	A	0.01%	0.04%	0.01%
	ROP	C	0.05%	0.05%	0.05%
	ROST	D	0.06%	0.06%	0.06%
	RPM	A	0.02%	0.04%	0.02%
	RRC	B	0.03%	0.02%	0.02%
	RRX	B	0.02%	0.02%	0.02%
	RS	B	0.05%	0.05%	0.05%
	RSG	B	0.09%	0.1%	0.09%
	RTX	D	0.44%	0.56%	0.44%
	RUSHA	B	0.02%	0.03%	0.02%
	SAFT	A	0.01%	0.01%	0.01%
	SAIC	D	0.02%	0.03%	0.02%
	SBAC	D	0.02%	0.02%	0.02%
	SBRA	C	0.02%	0.02%	0.02%
	SBUX	A	0.14%	0.31%	0.14%
	SCHW	A	0.24%	0.23%	0.23%
	SCI	B	0.02%	0.03%	0.02%
	SCL	D	0.01%	0.01%	0.01%
	SEE	B	0.01%	0.01%	0.01%
	SEIC	A	0.02%	0.02%	0.02%
	SEM	B	0.02%	0.02%	0.02%
	SF	A	0.04%	0.03%	0.03%
	SFBS	A	0.01%	0.01%	0.01%
	SFNC	B	0.03%	0.03%	0.03%
	SHOO	D	0.01%	0.01%	0.01%
	SHW	B	0.06%	0.13%	0.06%
	SIGI	A	0.02%	0.01%	0.01%
	SJM	F	0.05%	0.05%	0.05%
	SKT	A	0.01%	0.01%	0.01%
	SLG	B	0.02%	0.01%	0.01%
	SLGN	B	0.02%	0.01%	0.01%
	SLM	A	0.02%	0.02%	0.02%
	SLVM	B	0.02%	0.01%	0.01%
	SM	C	0.02%	0.01%	0.01%
	SMG	D	0.01%	0.03%	0.01%
	SNA	A	0.04%	0.08%	0.04%
	SNV	A	0.04%	0.04%	0.04%
	SNX	D	0.08%	0.01%	0.01%
	SO	C	0.3%	0.41%	0.3%
	SON	D	0.02%	0.03%	0.02%
	SPG	A	0.06%	0.4%	0.06%
	SPGI	C	0.12%	0.16%	0.12%
	SR	A	0.02%	0.03%	0.02%
	SRE	A	0.18%	0.2%	0.18%
	SSB	A	0.03%	0.02%	0.02%
	SSD	D	0.01%	0.02%	0.01%
	STAG	D	0.01%	0.02%	0.01%
	STBA	A	0.01%	0.02%	0.01%
	STC	A	0.01%	0.02%	0.01%
	STLD	B	0.08%	0.04%	0.04%
	STRA	C	0.01%	0.01%	0.01%
	STT	A	0.14%	0.13%	0.13%
	STZ	D	0.05%	0.11%	0.05%
	SW	A	0.22%	0.04%	0.04%
	SWK	F	0.05%	0.05%	0.05%
	SWKS	F	0.04%	0.04%	0.04%
	SWX	A	0.02%	0.02%	0.02%
	SXT	C	0.01%	0.01%	0.01%
	SYF	A	0.22%	0.09%	0.09%
	SYK	A	0.09%	0.24%	0.09%
	SYY	D	0.12%	0.17%	0.12%
	TAP	A	0.08%	0.04%	0.04%
	TDS	B	0.03%	0.02%	0.02%
	TECH	D	0.0%	0.01%	0.0%
	TER	F	0.02%	0.01%	0.01%
	TEX	D	0.01%	0.01%	0.01%
	TGT	D	0.22%	0.25%	0.22%
	THG	A	0.02%	0.02%	0.02%
	THO	B	0.03%	0.02%	0.02%
	TJX	A	0.16%	0.35%	0.16%
	TKO	C	0.04%	0.02%	0.02%
	TKR	F	0.01%	0.02%	0.01%
	TMO	D	0.16%	0.16%	0.16%
	TMP	A	0.01%	0.03%	0.01%
	TMUS	A	0.42%	0.76%	0.42%
	TNL	A	0.02%	0.03%	0.02%
	TOL	B	0.05%	0.01%	0.01%
	TPR	A	0.04%	0.06%	0.04%
	TPX	A	0.01%	0.02%	0.01%
	TRGP	A	0.09%	0.11%	0.09%
	TRMK	A	0.01%	0.02%	0.01%
	TRN	A	0.03%	0.02%	0.02%
	TROW	A	0.07%	0.13%	0.07%
	TRST	A	0.0%	0.02%	0.0%
	TRV	A	0.18%	0.15%	0.15%
	TSCO	D	0.04%	0.08%	0.04%
	TSN	A	0.14%	0.08%	0.08%
	TTC	D	0.01%	0.02%	0.01%
	TTEK	D	0.02%	0.02%	0.02%
	TXN	C	0.25%	0.65%	0.25%
	TXRH	A	0.02%	0.06%	0.02%
	TXT	D	0.04%	0.02%	0.02%
	UBSI	A	0.02%	0.02%	0.02%
	UCB	A	0.01%	0.01%	0.01%
	UDR	C	0.03%	0.05%	0.03%
	UFPI	C	0.02%	0.02%	0.02%
	UGI	C	0.04%	0.03%	0.03%
	UHS	D	0.05%	0.02%	0.02%
	UMBF	A	0.02%	0.02%	0.02%
	UNH	B	1.17%	1.24%	1.17%
	UNM	A	0.1%	0.06%	0.06%
	UNP	D	0.22%	0.37%	0.22%
	UPBD	B	0.01%	0.02%	0.01%
	UPS	C	0.37%	0.43%	0.37%
	URI	B	0.07%	0.08%	0.07%
	USB	B	0.38%	0.42%	0.38%
	UTL	C	0.0%	0.01%	0.0%
	UVV	B	0.01%	0.01%	0.01%
	V	A	0.44%	0.67%	0.44%
	VAC	B	0.02%	0.02%	0.02%
	VICI	C	0.09%	0.25%	0.09%
	VLO	C	0.37%	0.17%	0.17%
	VLTO	D	0.02%	0.01%	0.01%
	VLY	A	0.04%	0.04%	0.04%
	VMC	B	0.03%	0.05%	0.03%
	VMI	B	0.02%	0.01%	0.01%
	VOYA	A	0.04%	0.02%	0.02%
	VRSK	B	0.01%	0.04%	0.01%
	VRTS	A	0.01%	0.02%	0.01%
	VSH	F	0.01%	0.01%	0.01%
	VST	A	0.1%	0.18%	0.1%
	VTR	C	0.08%	0.08%	0.08%
	VTRS	A	0.13%	0.09%	0.09%
	WAB	B	0.04%	0.04%	0.04%
	WAFD	A	0.03%	0.02%	0.02%
	WBS	A	0.04%	0.05%	0.04%
	WCC	A	0.04%	0.01%	0.01%
	WD	D	0.01%	0.01%	0.01%
	WDFC	A	0.0%	0.01%	0.0%
	WEC	A	0.09%	0.11%	0.09%
	WELL	A	0.12%	0.19%	0.12%
	WEN	C	0.01%	0.03%	0.01%
	WERN	B	0.01%	0.01%	0.01%
	WFC	A	1.17%	0.9%	0.9%
	WGO	B	0.01%	0.01%	0.01%
	WH	A	0.01%	0.03%	0.01%
	WKC	C	0.01%	0.01%	0.01%
	WLK	F	0.04%	0.03%	0.03%
	WM	B	0.1%	0.24%	0.1%
	WMB	A	0.19%	0.35%	0.19%
	WMS	F	0.01%	0.01%	0.01%
	WMT	A	1.8%	1.61%	1.61%
	WOR	F	0.01%	0.01%	0.01%
	WPC	D	0.05%	0.06%	0.05%
	WRB	A	0.05%	0.07%	0.05%
	WSFS	A	0.01%	0.02%	0.01%
	WSM	F	0.02%	0.05%	0.02%
	WSO	A	0.04%	0.06%	0.04%
	WST	C	0.01%	0.03%	0.01%
	WTFC	A	0.03%	0.01%	0.01%
	WTRG	C	0.03%	0.03%	0.03%
	WU	F	0.03%	0.03%	0.03%
	WWD	B	0.02%	0.02%	0.02%
	WWW	A	0.01%	0.01%	0.01%
	WY	D	0.06%	0.04%	0.04%
	X	D	0.08%	0.01%	0.01%
	XEL	A	0.14%	0.22%	0.14%
	XOM	B	2.01%	2.48%	2.01%
	XRAY	F	0.01%	0.01%	0.01%
	XRX	F	0.01%	0.01%	0.01%
	XYL	D	0.02%	0.04%	0.02%
	YUM	D	0.03%	0.11%	0.03%
	ZBH	C	0.05%	0.02%	0.02%
	ZION	A	0.07%	0.04%	0.04%
	ZTS	D	0.04%	0.12%	0.04%

VLU Overweight 701 Positions Relative to DTD

	Symbol	Grade	Weight
	BRK.A	A	2.36%
	AMZN	B	2.1%
	VZ	C	1.46%
	T	A	1.35%
	PFE	F	0.77%
	TSLA	B	0.57%
	TFC	A	0.53%
	KMI	A	0.44%
	F	C	0.36%
	INTC	C	0.35%
	CHTR	B	0.33%
	NEE	C	0.33%
	MDT	D	0.32%
	CB	C	0.32%
	ACN	C	0.31%
	MMM	D	0.28%
	CNC	F	0.28%
	UAL	A	0.24%
	CCL	A	0.2%
	LYB	F	0.19%
	LIN	D	0.19%
	WBD	B	0.18%
	CFG	A	0.18%
	NFLX	A	0.18%
	BA	F	0.17%
	PYPL	A	0.17%
	ADBE	F	0.16%
	KEY	A	0.15%
	FI	A	0.15%
	JCI	A	0.15%
	NEM	F	0.14%
	AMD	F	0.13%
	SLB	C	0.13%
	DVN	F	0.12%
	ETN	A	0.12%
	BG	D	0.11%
	REGN	F	0.11%
	BSX	B	0.11%
	VRTX	C	0.11%
	PFGC	B	0.11%
	ACGL	C	0.11%
	ISRG	A	0.1%
	CTVA	D	0.09%
	FOXA	A	0.09%
	FCX	F	0.09%
	ORLY	A	0.08%
	AAL	B	0.08%
	EG	D	0.08%
	TT	A	0.08%
	BIIB	F	0.08%
	ANET	C	0.08%
	RCL	A	0.08%
	USFD	B	0.08%
	LUMN	C	0.08%
	UBER	C	0.08%
	CBRE	B	0.08%
	GRMN	B	0.07%
	WTW	B	0.07%
	ABNB	C	0.07%
	PANW	B	0.07%
	IVZ	B	0.07%
	AON	A	0.07%
	NXPI	F	0.07%
	ARW	D	0.06%
	WBA	F	0.06%
	BAX	F	0.06%
	CTRA	A	0.06%
	BXP	D	0.06%
	PARA	C	0.06%
	DVA	C	0.06%
	NVR	D	0.06%
	VFC	B	0.06%
	THC	C	0.06%
	VNO	B	0.06%
	NOW	B	0.06%
	AZO	C	0.06%
	MHK	D	0.06%
	ON	F	0.05%
	EXPE	A	0.05%
	JLL	C	0.05%
	STX	D	0.05%
	WDC	F	0.05%
	IQV	F	0.05%
	DG	F	0.05%
	BLDR	D	0.05%
	SNPS	C	0.05%
	APTV	F	0.05%
	CNX	A	0.05%
	DOC	D	0.05%
	JHG	A	0.05%
	IFF	D	0.05%
	WHR	A	0.05%
	RNR	D	0.05%
	STWD	D	0.05%
	FHN	A	0.05%
	COOP	B	0.05%
	ALK	A	0.05%
	AMCR	C	0.05%
	MNST	D	0.05%
	HCC	B	0.04%
	COHR	B	0.04%
	KEYS	C	0.04%
	NCLH	B	0.04%
	DLTR	F	0.04%
	AES	F	0.04%
	XPO	B	0.04%
	AN	D	0.04%
	CACI	C	0.04%
	OHI	C	0.04%
	TMHC	B	0.04%
	FYBR	C	0.04%
	FTNT	A	0.04%
	SANM	B	0.04%
	AR	B	0.04%
	UTHR	B	0.04%
	CPAY	A	0.04%
	CMG	B	0.04%
	AA	A	0.04%
	MOH	F	0.04%
	MGM	D	0.04%
	LYV	A	0.04%
	ROIV	D	0.04%
	KMX	B	0.04%
	ABG	A	0.04%
	GPI	A	0.04%
	BURL	C	0.03%
	PENN	B	0.03%
	GT	C	0.03%
	CDNS	B	0.03%
	SKX	D	0.03%
	HAS	D	0.03%
	GNW	A	0.03%
	CLH	C	0.03%
	PK	C	0.03%
	ARCH	B	0.03%
	ANSS	B	0.03%
	SATS	D	0.03%
	FSLR	F	0.03%
	CUZ	B	0.03%
	HBI	A	0.03%
	POST	D	0.03%
	CR	A	0.03%
	HSIC	D	0.03%
	TGNA	B	0.03%
	INCY	B	0.03%
	CZR	F	0.03%
	BXMT	D	0.03%
	BHF	A	0.03%
	GEO	A	0.03%
	ULTA	D	0.03%
	FMC	F	0.03%
	APLE	B	0.03%
	BIO	C	0.03%
	GME	C	0.03%
	CNK	A	0.03%
	CEIX	A	0.03%
	GHC	A	0.03%
	ILMN	C	0.03%
	GDDY	A	0.03%
	CWK	B	0.03%
	SFM	A	0.03%
	IT	B	0.03%
	CALM	A	0.03%
	FLR	B	0.03%
	LULU	C	0.03%
	KD	A	0.03%
	DEI	B	0.03%
	AKAM	F	0.03%
	MTZ	B	0.03%
	EL	F	0.03%
	NWL	B	0.03%
	BJ	B	0.03%
	HIW	D	0.03%
	TDY	B	0.03%
	CPRT	A	0.03%
	KNX	B	0.03%
	EW	C	0.03%
	ADSK	B	0.03%
	DXC	C	0.03%
	BLD	F	0.02%
	ATGE	B	0.02%
	GMED	A	0.02%
	ALLE	D	0.02%
	ADNT	F	0.02%
	EXEL	B	0.02%
	MIDD	D	0.02%
	AX	A	0.02%
	FICO	A	0.02%
	VSTS	F	0.02%
	VVV	B	0.02%
	ST	F	0.02%
	REZI	A	0.02%
	NWBI	A	0.02%
	JBGS	D	0.02%
	VYX	C	0.02%
	ATI	D	0.02%
	NATL	B	0.02%
	AXTA	A	0.02%
	KRG	B	0.02%
	ABCB	A	0.02%
	PLXS	B	0.02%
	OI	C	0.02%
	MOG.A	B	0.02%
	MHO	D	0.02%
	BCC	B	0.02%
	CAR	C	0.02%
	PRG	A	0.02%
	AGO	A	0.02%
	NSIT	F	0.02%
	WFRD	F	0.02%
	UAA	B	0.02%
	KAR	A	0.02%
	WYNN	D	0.02%
	JBLU	C	0.02%
	NVT	B	0.02%
	ESNT	D	0.02%
	FL	F	0.02%
	PRGO	C	0.02%
	EAT	A	0.02%
	PTC	B	0.02%
	TCBI	A	0.02%
	PPC	B	0.02%
	PVH	C	0.02%
	AAP	D	0.02%
	IDXX	F	0.02%
	URBN	C	0.02%
	TYL	B	0.02%
	TTWO	A	0.02%
	TPH	D	0.02%
	LNW	D	0.02%
	GXO	B	0.02%
	WAT	B	0.02%
	MTD	F	0.02%
	KEX	A	0.02%
	STE	D	0.02%
	CIEN	B	0.02%
	MTH	D	0.02%
	MRNA	F	0.02%
	H	B	0.02%
	SIG	B	0.02%
	G	A	0.02%
	DECK	A	0.02%
	PNR	A	0.02%
	CW	B	0.02%
	ALGN	D	0.02%
	VRSN	D	0.02%
	GNRC	B	0.02%
	SKYW	A	0.02%
	TRMB	A	0.02%
	AMG	A	0.02%
	ALV	C	0.02%
	ENVA	A	0.02%
	RVTY	D	0.02%
	JAZZ	A	0.02%
	CXW	B	0.02%
	VSCO	A	0.02%
	SNEX	A	0.02%
	HOLX	D	0.02%
	FFIV	B	0.02%
	DAR	B	0.02%
	ABR	C	0.02%
	ZBRA	B	0.02%
	CLF	F	0.02%
	CSGP	F	0.02%
	TDG	D	0.02%
	MPW	F	0.02%
	KREF	D	0.01%
	FBNC	A	0.01%
	HFWA	A	0.01%
	QNST	C	0.01%
	UNIT	B	0.01%
	AIN	C	0.01%
	UFCS	A	0.01%
	EZPW	A	0.01%
	MMI	A	0.01%
	IART	C	0.01%
	MSGS	B	0.01%
	XHR	B	0.01%
	FORM	F	0.01%
	RES	F	0.01%
	CUBI	B	0.01%
	SOLV	C	0.01%
	AAT	C	0.01%
	AEIS	B	0.01%
	AVNS	F	0.01%
	HPP	F	0.01%
	EFC	D	0.01%
	CENX	A	0.01%
	MODG	F	0.01%
	HAE	A	0.01%
	TDC	F	0.01%
	ZD	B	0.01%
	HAIN	F	0.01%
	CVLT	B	0.01%
	SCHL	F	0.01%
	GFF	A	0.01%
	RDNT	B	0.01%
	CHEF	B	0.01%
	CWT	C	0.01%
	HCSG	B	0.01%
	HWKN	C	0.01%
	INN	D	0.01%
	HLX	D	0.01%
	AMWD	B	0.01%
	GDOT	C	0.01%
	FSS	C	0.01%
	FIZZ	B	0.01%
	SYNA	C	0.01%
	WRLD	D	0.01%
	SMPL	B	0.01%
	FWRD	D	0.01%
	VSAT	F	0.01%
	RCM	A	0.01%
	SHAK	B	0.01%
	MRCY	B	0.01%
	DRH	B	0.01%
	NGVT	B	0.01%
	UCTT	F	0.01%
	ONTO	F	0.01%
	ESE	A	0.01%
	DNOW	A	0.01%
	MP	B	0.01%
	ELME	D	0.01%
	RGEN	D	0.01%
	MATV	F	0.01%
	ESAB	B	0.01%
	PLAB	D	0.01%
	VRE	A	0.01%
	NHC	B	0.01%
	YELP	C	0.01%
	KELYA	F	0.01%
	MEDP	D	0.01%
	MMSI	A	0.01%
	SBCF	A	0.01%
	MCW	B	0.01%
	KNF	B	0.01%
	SHO	D	0.01%
	VIR	C	0.01%
	AMED	F	0.01%
	ALGT	A	0.01%
	AHCO	D	0.01%
	CGNX	D	0.01%
	EIG	A	0.01%
	OSIS	A	0.01%
	KN	B	0.01%
	NOVT	D	0.01%
	VC	F	0.01%
	ASIX	B	0.01%
	HQY	A	0.01%
	MYRG	B	0.01%
	LGND	B	0.01%
	ACHC	F	0.01%
	SMCI	F	0.01%
	SPTN	F	0.01%
	CARG	A	0.01%
	BOOT	C	0.01%
	ALKS	B	0.01%
	FELE	B	0.01%
	TBBK	A	0.01%
	CORT	B	0.01%
	BRBR	A	0.01%
	VTLE	C	0.01%
	TREX	C	0.01%
	CPF	A	0.01%
	SCVL	F	0.01%
	FND	F	0.01%
	MNRO	B	0.01%
	CASH	A	0.01%
	HALO	D	0.01%
	PLUS	F	0.01%
	CVCO	A	0.01%
	AXL	C	0.01%
	AMN	F	0.01%
	KLIC	C	0.01%
	OPCH	F	0.01%
	HASI	F	0.01%
	LNTH	F	0.01%
	PUMP	F	0.01%
	BCPC	B	0.01%
	OII	B	0.01%
	LGIH	F	0.01%
	PCTY	B	0.01%
	PARR	D	0.01%
	NBR	D	0.01%
	ROIC	A	0.01%
	ARCB	C	0.01%
	B	A	0.01%
	LPG	F	0.01%
	LTC	B	0.01%
	ENPH	F	0.01%
	RWT	D	0.01%
	UE	B	0.01%
	ETSY	D	0.01%
	VNT	C	0.01%
	EXLS	B	0.01%
	DOCS	C	0.01%
	ODP	F	0.01%
	PJT	A	0.01%
	DORM	B	0.01%
	DXCM	C	0.01%
	NBIX	D	0.01%
	MASI	A	0.01%
	CENTA	C	0.01%
	AVAV	C	0.01%
	UNF	A	0.01%
	ENOV	C	0.01%
	GTLS	A	0.01%
	ANF	C	0.01%
	OMI	F	0.01%
	CPRI	F	0.01%
	OMCL	C	0.01%
	DIOD	F	0.01%
	IPGP	D	0.01%
	FTDR	B	0.01%
	IRT	A	0.01%
	NMIH	D	0.01%
	FBK	A	0.01%
	CBRL	C	0.01%
	MTX	B	0.01%
	NPO	A	0.01%
	ITGR	B	0.01%
	PODD	A	0.01%
	INVA	C	0.01%
	SXC	A	0.01%
	RUN	F	0.01%
	DAY	B	0.01%
	EXPI	C	0.01%
	SHC	D	0.01%
	VSTO	A	0.01%
	AKR	B	0.01%
	ALGM	F	0.01%
	BDN	D	0.01%
	WTS	A	0.01%
	CNXN	D	0.01%
	ENSG	D	0.01%
	SBSI	B	0.01%
	PECO	A	0.01%
	MTSI	B	0.01%
	HGV	B	0.01%
	DCOM	A	0.01%
	VAL	F	0.01%
	THS	F	0.01%
	RXO	C	0.01%
	APAM	A	0.01%
	MAT	C	0.01%
	SAH	A	0.01%
	RYN	D	0.01%
	RC	F	0.01%
	NBTB	A	0.01%
	CTRE	D	0.01%
	FUL	F	0.01%
	CNM	F	0.01%
	SCSC	B	0.01%
	BHLB	A	0.01%
	PBH	A	0.01%
	LOPE	B	0.01%
	OUT	C	0.01%
	PIPR	A	0.01%
	RH	C	0.01%
	UA	B	0.01%
	FCN	F	0.01%
	CRK	A	0.01%
	OLLI	D	0.01%
	GRBK	D	0.01%
	SABR	B	0.01%
	RBC	A	0.01%
	SBH	A	0.01%
	UNFI	A	0.01%
	PSMT	D	0.01%
	ECPG	A	0.01%
	CRUS	F	0.01%
	GVA	A	0.01%
	SAIA	B	0.01%
	PSTG	F	0.01%
	CDP	C	0.01%
	WEX	F	0.01%
	ITRI	B	0.01%
	DEA	D	0.01%
	PMT	D	0.01%
	LRN	A	0.01%
	DT	C	0.01%
	GMS	A	0.01%
	GIII	D	0.01%
	FN	C	0.01%
	ARI	D	0.01%
	EPRT	C	0.01%
	BGC	B	0.01%
	FDP	A	0.01%
	FHI	A	0.01%
	NWN	A	0.01%
	TTMI	B	0.01%
	BDC	B	0.01%
	CROX	F	0.01%
	WS	B	0.01%
	MD	B	0.01%
	MTCH	F	0.01%
	COTY	F	0.01%
	DY	C	0.01%
	CRL	D	0.01%
	ICUI	D	0.01%
	NVST	C	0.01%
	CTLT	C	0.01%
	ASGN	D	0.01%
	ACIW	B	0.01%
	AMR	C	0.01%
	ACA	B	0.01%
	SPNT	A	0.01%
	TFX	F	0.01%
	AXON	A	0.01%
	EEFT	C	0.01%
	REXR	F	0.01%
	PEB	F	0.01%
	ASO	F	0.01%
	GNL	D	0.01%
	TALO	C	0.01%
	ANDE	C	0.01%
	QRVO	F	0.01%
	LITE	A	0.01%
	HUBG	A	0.01%
	PPBI	A	0.01%
	INDB	A	0.01%
	VBTX	A	0.01%
	DBX	C	0.01%
	HOPE	A	0.01%
	AYI	A	0.01%
	EPAM	B	0.01%
	AORT	B	0.0%
	VICR	B	0.0%
	NPK	B	0.0%
	XPEL	B	0.0%
	WOLF	F	0.0%
	NARI	C	0.0%
	LESL	C	0.0%
	VCEL	A	0.0%
	AGYS	A	0.0%
	MSEX	B	0.0%
	GOGO	C	0.0%
	PGNY	F	0.0%
	EMBC	C	0.0%
	PCRX	C	0.0%
	STAA	F	0.0%
	CLB	C	0.0%
	CELH	F	0.0%
	TNDM	F	0.0%
	CERT	F	0.0%
	RGNX	F	0.0%
	ELF	C	0.0%
	TTGT	C	0.0%
	ARWR	D	0.0%
	NABL	F	0.0%
	CRSR	C	0.0%
	TGI	A	0.0%
	COHU	D	0.0%
	HCI	B	0.0%
	LQDT	A	0.0%
	MYE	F	0.0%
	JBSS	F	0.0%
	SNCY	B	0.0%
	SSTK	F	0.0%
	NXRT	A	0.0%
	SEDG	F	0.0%
	BJRI	A	0.0%
	ICHR	C	0.0%
	CEVA	B	0.0%
	MXL	C	0.0%
	GKOS	B	0.0%
	SHEN	F	0.0%
	WT	A	0.0%
	IIIN	C	0.0%
	SITM	B	0.0%
	MGPI	D	0.0%
	CARS	B	0.0%
	DGII	B	0.0%
	AHH	D	0.0%
	GPRE	F	0.0%
	DV	C	0.0%
	TRUP	A	0.0%
	WING	F	0.0%
	CYTK	D	0.0%
	WSR	B	0.0%
	CENT	C	0.0%
	THRY	F	0.0%
	ASTE	B	0.0%
	COLL	F	0.0%
	SLAB	F	0.0%
	IRWD	D	0.0%
	EPAC	B	0.0%
	PAYO	A	0.0%
	VECO	F	0.0%
	PEN	B	0.0%
	CTS	B	0.0%
	RGR	F	0.0%
	HRMY	D	0.0%
	USNA	C	0.0%
	JACK	D	0.0%
	THRM	F	0.0%
	CPRX	C	0.0%
	VVI	A	0.0%
	TNC	F	0.0%
	SXI	A	0.0%
	XNCR	B	0.0%
	YETI	F	0.0%
	PRLB	B	0.0%
	SPSC	D	0.0%
	LNN	B	0.0%
	SONO	C	0.0%
	PRVA	B	0.0%
	GDEN	B	0.0%
	MTUS	F	0.0%
	HTLD	B	0.0%
	HSII	B	0.0%
	SJW	F	0.0%
	KOP	C	0.0%
	ALRM	C	0.0%
	AMPH	F	0.0%
	ALG	B	0.0%
	AOSL	F	0.0%
	WNC	C	0.0%
	EXTR	B	0.0%
	MATW	C	0.0%
	BLKB	D	0.0%
	DFIN	D	0.0%
	LIVN	C	0.0%
	FTRE	D	0.0%
	MYGN	F	0.0%
	CNMD	C	0.0%
	CALX	F	0.0%
	EYE	C	0.0%
	JOE	F	0.0%
	WABC	A	0.0%
	RCUS	F	0.0%
	HLIT	F	0.0%
	BSIG	A	0.0%
	UHT	D	0.0%
	CSGS	A	0.0%
	UFPT	C	0.0%
	REX	C	0.0%
	QLYS	C	0.0%
	USPH	C	0.0%
	PLMR	A	0.0%
	SMP	C	0.0%
	NX	C	0.0%
	ACLS	F	0.0%
	RAMP	C	0.0%
	AIR	B	0.0%
	AZTA	F	0.0%
	VIAV	B	0.0%
	ETD	D	0.0%
	HTZ	C	0.0%
	LSCC	D	0.0%
	HAYN	A	0.0%
	VRRM	D	0.0%
	FLGT	F	0.0%
	NVEE	F	0.0%
	NVRI	F	0.0%
	DVAX	C	0.0%
	FOXF	F	0.0%
	CNSL	A	0.0%
	AMBC	C	0.0%
	ENV	B	0.0%
	FBRT	C	0.0%
	TWI	F	0.0%
	MANH	D	0.0%
	BOX	B	0.0%
	HZO	F	0.0%
	EVTC	C	0.0%
	NTCT	B	0.0%
	TR	A	0.0%
	LKFN	A	0.0%
	NEO	C	0.0%
	HAYW	A	0.0%
	NEOG	D	0.0%
	ROG	D	0.0%
	SVC	F	0.0%
	CRVL	B	0.0%
	PLNT	A	0.0%
	SAM	B	0.0%
	ASTH	F	0.0%
	PAHC	A	0.0%
	TRIP	D	0.0%
	TILE	A	0.0%
	FIVE	F	0.0%
	CSR	A	0.0%
	HELE	C	0.0%
	VTOL	B	0.0%
	DXPE	A	0.0%
	ADUS	D	0.0%
	RMBS	C	0.0%
	MTRN	C	0.0%
	PRAA	C	0.0%
	PLAY	C	0.0%
	ZI	D	0.0%
	BFS	C	0.0%
	ROCK	C	0.0%
	SUPN	B	0.0%
	PRA	A	0.0%
	SMTC	C	0.0%
	ALEX	B	0.0%
	CAL	D	0.0%
	TFIN	A	0.0%
	GO	C	0.0%

VLU Underweight 94 Positions Relative to DTD

	Symbol	Grade	Weight
	BLK	A	-0.43%
	APO	A	-0.2%
	KKR	A	-0.13%
	CRBG	B	-0.1%
	ARES	B	-0.1%
	LNG	A	-0.08%
	DELL	C	-0.06%
	OMF	A	-0.05%
	CNA	C	-0.05%
	OWL	A	-0.05%
	UI	A	-0.05%
	ACI	C	-0.04%
	TPL	A	-0.04%
	BAH	D	-0.04%
	LPLA	A	-0.03%
	QCRH	A	-0.03%
	SASR	A	-0.03%
	CNS	B	-0.03%
	BOKF	A	-0.03%
	ACT	C	-0.03%
	FCNCA	A	-0.03%
	HLNE	A	-0.03%
	WSBC	A	-0.03%
	VCTR	B	-0.03%
	SUI	D	-0.03%
	FIBK	A	-0.03%
	WAL	A	-0.03%
	TFSL	A	-0.03%
	VRT	A	-0.03%
	HEI	A	-0.03%
	SIRI	C	-0.03%
	BPOP	C	-0.03%
	ALSN	B	-0.03%
	SSNC	D	-0.03%
	ZWS	B	-0.02%
	HTLF	A	-0.02%
	FRME	A	-0.02%
	STEP	A	-0.02%
	UVSP	A	-0.02%
	HUN	F	-0.02%
	SPB	C	-0.02%
	BNL	D	-0.02%
	WHD	B	-0.02%
	SYBT	A	-0.02%
	ADTN	A	-0.02%
	VIRT	A	-0.02%
	RHP	B	-0.02%
	PEBO	A	-0.02%
	MWA	A	-0.02%
	OCFC	A	-0.02%
	KNTK	A	-0.02%
	TW	B	-0.02%
	HRI	B	-0.02%
	BUSE	A	-0.02%
	ESI	B	-0.02%
	TPG	B	-0.02%
	REYN	D	-0.02%
	FBMS	A	-0.02%
	DK	D	-0.01%
	AESI	D	-0.01%
	COLD	F	-0.01%
	WMG	B	-0.01%
	WINA	B	-0.01%
	SCS	A	-0.01%
	LEVI	F	-0.01%
	AGM	A	-0.01%
	DIN	C	-0.01%
	KRO	D	-0.01%
	GRNT	B	-0.01%
	RGP	F	-0.01%
	RRR	D	-0.01%
	HEES	B	-0.01%
	SEB	F	-0.01%
	PTVE	C	-0.01%
	UTZ	D	-0.01%
	CRGY	A	-0.01%
	EDR	A	-0.01%
	SSBK	A	-0.01%
	WMK	B	-0.01%
	FG	A	-0.01%
	SRCE	A	-0.01%
	BSY	D	-0.01%
	GOLF	A	-0.01%
	DNB	B	-0.01%
	EBC	A	-0.01%
	SNDR	B	-0.01%
	PFSI	D	-0.01%
	MSBI	A	-0.01%
	GTN	F	-0.0%
	RELL	B	-0.0%
	NFE	F	-0.0%
	UWMC	F	-0.0%
	CWH	B	-0.0%
	NUS	C	-0.0%

VLU: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Software - Application Semiconductors Oil & Gas E&P Biotechnology Business Services Packaged Foods Specialty Chemicals REIT - Diversified Specialty Retail Asset Management Diagnostics & Research Utilities - Regulated Electric Insurance - Property & Casualty REIT - Retail Building Materials Restaurants Aerospace & Defense Capital Markets

Keywords: S&P 500 Bank Nasdaq 100 Banking Natural Gas Real Estate Investment Trust Insurance Chemical Computing Aerospace Electronics Mining Medicine Semiconductor Electricity Deposit Products Telecommunications Transport Commercial Banking Clothing

DTD: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Asset Management Oil & Gas E&P Utilities - Regulated Electric Business Services Specialty Chemicals Capital Markets Insurance - Property & Casualty Packaged Foods Packaging & Containers Credit Services REIT - Retail Restaurants Utilities - Diversified Building Materials Semiconductors Aerospace & Defense Insurance - Life REIT - Industrial

Keywords: S&P 500 Bank Banking Natural Gas Insurance Nasdaq 100 Deposit Products Electricity Real Estate Investment Trust Chemical Mining Real Estate Loans Electronics Commercial Banking Aerospace Computing Investment Management Insurance Products Commercial Bank Plastic