VLU vs. EQAL ETF Comparison

Comparison of SPDR S&P 1500 Value Tilt ETF (VLU) to PowerShares Russell 1000 Equal Weight Portfolio (EQAL)

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

$181.56

Average Daily Volume

12,092

Number of Holdings ^*

1421

* may have additional holdings in another (foreign) market

EQAL

PowerShares Russell 1000 Equal Weight Portfolio

EQAL Description

The investment seeks investment results that generally correspond (before fees and expenses) to the price and yield of the Russell 1000® Equal Weight Index. The fund generally will invest at least 90% of its total assets in common stocks that comprise the underlying index. Strictly in accordance with its guidelines and mandated procedures, Frank Russell Company (the "Index Provider") compiles and maintains the underlying index, which is composed of all of the securities in the Russell 1000® Index (the "Russell 1000") "equally weighted."

Grade (RS Rating)

Last Trade

$47.80

Average Daily Volume

24,150

Number of Holdings ^*

962

* may have additional holdings in another (foreign) market

Performance

Period	VLU	EQAL
30 Days	2.22%	3.06%
60 Days	1.82%	3.51%
90 Days	6.23%	7.47%
12 Months	23.48%	16.93%

807 Overlapping Holdings

Symbol	Grade	Weight in VLU	Weight in EQAL	Overlap
A	C	0.04%	0.08%	0.04%
AA	D	0.03%	0.19%	0.03%
AAL	D	0.06%	0.05%	0.05%
AAON	A	0.0%	0.05%	0.0%
AAP	F	0.02%	0.03%	0.02%
AAPL	D	2.38%	0.07%	0.07%
ABBV	B	0.46%	0.09%	0.09%
ABNB	D	0.06%	0.04%	0.04%
ABT	B	0.25%	0.09%	0.09%
ACGL	A	0.14%	0.07%	0.07%
ACHC	C	0.01%	0.09%	0.01%
ACM	B	0.03%	0.05%	0.03%
ACN	C	0.31%	0.05%	0.05%
ADBE	D	0.2%	0.07%	0.07%
ADC	B	0.02%	0.18%	0.02%
ADI	D	0.14%	0.06%	0.06%
ADM	D	0.27%	0.16%	0.16%
ADP	A	0.08%	0.05%	0.05%
ADSK	B	0.03%	0.07%	0.03%
AEE	A	0.09%	0.24%	0.09%
AEP	A	0.18%	0.24%	0.18%
AES	C	0.05%	0.19%	0.05%
AFG	B	0.08%	0.06%	0.06%
AFL	B	0.23%	0.08%	0.08%
AGCO	D	0.03%	0.04%	0.03%
AGO	C	0.02%	0.06%	0.02%
AIG	D	0.26%	0.06%	0.06%
AIZ	C	0.04%	0.07%	0.04%
AJG	A	0.06%	0.07%	0.06%
AKAM	D	0.03%	0.07%	0.03%
AL	D	0.04%	0.04%	0.04%
ALB	D	0.04%	0.22%	0.04%
ALGM	D	0.0%	0.05%	0.0%
ALGN	D	0.02%	0.08%	0.02%
ALK	C	0.04%	0.05%	0.04%
ALL	A	0.16%	0.07%	0.07%
ALLE	A	0.02%	0.05%	0.02%
ALLY	F	0.1%	0.05%	0.05%
AM	B	0.02%	0.2%	0.02%
AMAT	D	0.12%	0.05%	0.05%
AMCR	B	0.06%	0.05%	0.05%
AMD	D	0.13%	0.06%	0.06%
AME	D	0.03%	0.05%	0.03%
AMED	D	0.01%	0.09%	0.01%
AMG	C	0.02%	0.07%	0.02%
AMGN	B	0.28%	0.09%	0.09%
AMH	B	0.03%	0.16%	0.03%
AMKR	D	0.03%	0.05%	0.03%
AMP	B	0.1%	0.06%	0.06%
AMT	B	0.16%	0.18%	0.16%
AMZN	C	1.86%	0.05%	0.05%
AN	D	0.04%	0.05%	0.04%
ANET	C	0.07%	0.53%	0.07%
ANSS	D	0.02%	0.06%	0.02%
AON	B	0.07%	0.07%	0.07%
AOS	D	0.02%	0.04%	0.02%
APA	F	0.05%	0.17%	0.05%
APD	B	0.14%	0.24%	0.14%
APH	D	0.06%	0.06%	0.06%
APTV	F	0.07%	0.05%	0.05%
AR	D	0.04%	0.16%	0.04%
ARE	B	0.05%	0.15%	0.05%
ARMK	B	0.05%	0.06%	0.05%
ARW	C	0.06%	0.06%	0.06%
ASH	D	0.02%	0.21%	0.02%
ATI	D	0.02%	0.05%	0.02%
ATO	A	0.07%	0.23%	0.07%
ATR	A	0.01%	0.05%	0.01%
AVB	B	0.07%	0.16%	0.07%
AVGO	C	0.39%	0.06%	0.06%
AVT	D	0.04%	0.06%	0.04%
AVY	B	0.02%	0.23%	0.02%
AWI	C	0.01%	0.05%	0.01%
AWK	A	0.06%	0.23%	0.06%
AXON	A	0.01%	0.06%	0.01%
AXP	B	0.33%	0.05%	0.05%
AXTA	C	0.02%	0.05%	0.02%
AYI	B	0.01%	0.05%	0.01%
AZO	C	0.07%	0.05%	0.05%
AZTA	D	0.0%	0.07%	0.0%
BA	F	0.15%	0.04%	0.04%
BAC	D	1.44%	0.06%	0.06%
BALL	C	0.05%	0.05%	0.05%
BAX	C	0.07%	0.09%	0.07%
BBWI	F	0.02%	0.03%	0.02%
BBY	B	0.17%	0.05%	0.05%
BC	D	0.02%	0.05%	0.02%
BDX	D	0.09%	0.08%	0.08%
BEN	D	0.05%	0.05%	0.05%
BERY	B	0.04%	0.05%	0.04%
BG	F	0.13%	0.15%	0.13%
BHF	F	0.03%	0.06%	0.03%
BIIB	F	0.1%	0.07%	0.07%
BIO	C	0.03%	0.09%	0.03%
BJ	D	0.03%	0.05%	0.03%
BK	A	0.27%	0.07%	0.07%
BKNG	B	0.09%	0.05%	0.05%
BKR	D	0.1%	0.21%	0.1%
BLD	D	0.02%	0.04%	0.02%
BLDR	C	0.05%	0.06%	0.05%
BLK	A	0.2%	0.07%	0.07%
BMY	C	0.33%	0.09%	0.09%
BR	B	0.02%	0.07%	0.02%
BRBR	C	0.01%	0.17%	0.01%
BRK.A	C	2.52%	0.07%	0.07%
BRKR	D	0.01%	0.08%	0.01%
BRO	B	0.04%	0.07%	0.04%
BRX	B	0.03%	0.18%	0.03%
BSX	B	0.11%	0.09%	0.09%
BURL	B	0.03%	0.06%	0.03%
BWA	F	0.07%	0.05%	0.05%
BWXT	D	0.01%	0.05%	0.01%
BX	A	0.11%	0.07%	0.07%
BXP	A	0.06%	0.18%	0.06%
BYD	C	0.02%	0.06%	0.02%
C	D	1.06%	0.06%	0.06%
CACC	F	0.0%	0.05%	0.0%
CACC	F	0.0%	0.04%	0.0%
CACI	B	0.03%	0.07%	0.03%
CAG	B	0.08%	0.18%	0.08%
CAH	B	0.25%	0.09%	0.09%
CAR	F	0.01%	0.03%	0.01%
CARR	A	0.08%	0.05%	0.05%
CASY	C	0.03%	0.17%	0.03%
CAT	C	0.22%	0.05%	0.05%
CB	B	0.39%	0.07%	0.07%
CBOE	B	0.03%	0.08%	0.03%
CBRE	B	0.08%	0.19%	0.08%
CBSH	B	0.02%	0.07%	0.02%
CC	F	0.01%	0.17%	0.01%
CCI	B	0.11%	0.18%	0.11%
CCK	A	0.04%	0.05%	0.04%
CCL	C	0.15%	0.05%	0.05%
CDNS	D	0.02%	0.05%	0.02%
CDW	D	0.04%	0.06%	0.04%
CE	D	0.04%	0.2%	0.04%
CEG	C	0.03%	0.17%	0.03%
CELH	F	0.0%	0.08%	0.0%
CERT	F	0.0%	0.06%	0.0%
CF	C	0.06%	0.25%	0.06%
CFG	C	0.18%	0.07%	0.07%
CFR	C	0.02%	0.07%	0.02%
CG	D	0.02%	0.06%	0.02%
CGNX	D	0.01%	0.04%	0.01%
CHD	B	0.03%	0.15%	0.03%
CHDN	B	0.01%	0.05%	0.01%
CHE	C	0.01%	0.09%	0.01%
CHH	C	0.01%	0.06%	0.01%
CHK	D	0.07%	0.17%	0.07%
CHRD	F	0.08%	0.16%	0.08%
CHRW	C	0.06%	0.05%	0.05%
CHTR	D	0.3%	0.61%	0.3%
CI	B	0.4%	0.09%	0.09%
CIEN	C	0.02%	0.59%	0.02%
CINF	B	0.07%	0.08%	0.07%
CIVI	F	0.05%	0.16%	0.05%
CL	C	0.11%	0.18%	0.11%
CLF	F	0.02%	0.18%	0.02%
CLH	B	0.03%	0.21%	0.03%
CLX	B	0.03%	0.19%	0.03%
CMA	B	0.07%	0.07%	0.07%
CMCSA	D	0.62%	0.53%	0.53%
CME	B	0.11%	0.07%	0.07%
CMG	C	0.04%	0.05%	0.04%
CMI	C	0.12%	0.05%	0.05%
CMS	A	0.06%	0.24%	0.06%
CNC	C	0.35%	0.09%	0.09%
CNM	F	0.01%	0.04%	0.01%
CNP	C	0.07%	0.18%	0.07%
CNXC	D	0.03%	0.07%	0.03%
COF	D	0.49%	0.05%	0.05%
COHR	C	0.02%	0.07%	0.02%
COKE	C	0.02%	0.21%	0.02%
COLB	C	0.05%	0.08%	0.05%
COLM	B	0.02%	0.05%	0.02%
COP	F	0.42%	0.19%	0.19%
COST	B	0.3%	0.05%	0.05%
COTY	D	0.02%	0.05%	0.02%
CPAY	C	0.04%	0.05%	0.04%
CPB	B	0.05%	0.18%	0.05%
CPRI	D	0.02%	0.07%	0.02%
CPRT	F	0.03%	0.05%	0.03%
CPT	B	0.04%	0.16%	0.04%
CR	C	0.02%	0.05%	0.02%
CRI	C	0.01%	0.06%	0.01%
CRL	D	0.01%	0.07%	0.01%
CRM	D	0.22%	0.06%	0.06%
CROX	C	0.02%	0.04%	0.02%
CRUS	D	0.02%	0.07%	0.02%
CSCO	C	0.46%	0.54%	0.46%
CSGP	D	0.03%	0.15%	0.03%
CSL	C	0.02%	0.04%	0.02%
CSX	D	0.11%	0.05%	0.05%
CTAS	B	0.04%	0.05%	0.04%
CTLT	B	0.01%	0.09%	0.01%
CTRA	F	0.06%	0.17%	0.06%
CTSH	B	0.11%	0.07%	0.07%
CTVA	B	0.09%	0.17%	0.09%
CUBE	A	0.03%	0.17%	0.03%
CUZ	B	0.03%	0.18%	0.03%
CVS	D	0.66%	0.15%	0.15%
CVX	D	1.27%	0.18%	0.18%
CW	B	0.02%	0.05%	0.02%
CWEN	A	0.01%	0.22%	0.01%
CWEN	A	0.02%	0.22%	0.02%
CZR	D	0.03%	0.05%	0.03%
D	B	0.25%	0.23%	0.23%
DAL	C	0.25%	0.05%	0.05%
DAR	F	0.02%	0.16%	0.02%
DAY	C	0.01%	0.07%	0.01%
DBX	D	0.01%	0.07%	0.01%
DCI	D	0.01%	0.04%	0.01%
DD	B	0.18%	0.05%	0.05%
DE	B	0.22%	0.05%	0.05%
DECK	C	0.02%	0.05%	0.02%
DFS	C	0.13%	0.06%	0.06%
DG	F	0.05%	0.03%	0.03%
DGX	B	0.06%	0.09%	0.06%
DHI	B	0.13%	0.07%	0.07%
DHR	B	0.13%	0.09%	0.09%
DINO	F	0.06%	0.17%	0.06%
DIS	D	0.26%	0.05%	0.05%
DKS	D	0.04%	0.05%	0.04%
DLB	D	0.01%	0.05%	0.01%
DLR	A	0.04%	0.16%	0.04%
DLTR	F	0.04%	0.03%	0.03%
DOC	B	0.05%	0.17%	0.05%
DOCS	B	0.01%	0.11%	0.01%
DOV	B	0.03%	0.05%	0.03%
DOW	F	0.19%	0.04%	0.04%
DPZ	D	0.01%	0.04%	0.01%
DRI	C	0.04%	0.05%	0.04%
DT	C	0.01%	0.08%	0.01%
DTE	A	0.1%	0.23%	0.1%
DTM	B	0.02%	0.22%	0.02%
DUK	B	0.36%	0.24%	0.24%
DV	F	0.0%	0.06%	0.0%
DVA	A	0.07%	0.09%	0.07%
DVN	F	0.14%	0.17%	0.14%
DXC	C	0.04%	0.07%	0.04%
DXCM	F	0.01%	0.05%	0.01%
EA	C	0.05%	0.05%	0.05%
EBAY	A	0.09%	0.06%	0.06%
ECL	A	0.05%	0.24%	0.05%
ED	B	0.14%	0.23%	0.14%
EEFT	F	0.01%	0.04%	0.01%
EFX	B	0.02%	0.06%	0.02%
EG	B	0.09%	0.06%	0.06%
EGP	B	0.01%	0.16%	0.01%
EHC	B	0.02%	0.09%	0.02%
EIX	B	0.11%	0.24%	0.11%
EL	F	0.05%	0.04%	0.04%
ELF	F	0.0%	0.03%	0.0%
ELS	B	0.02%	0.17%	0.02%
ELV	B	0.42%	0.08%	0.08%
EME	A	0.02%	0.05%	0.02%
EMN	A	0.05%	0.24%	0.05%
EMR	D	0.13%	0.04%	0.04%
ENOV	F	0.01%	0.08%	0.01%
ENPH	D	0.01%	0.2%	0.01%
EOG	D	0.23%	0.2%	0.2%
EPAM	D	0.01%	0.07%	0.01%
EPR	B	0.01%	0.17%	0.01%
EQH	C	0.07%	0.06%	0.06%
EQIX	B	0.07%	0.16%	0.07%
EQR	B	0.09%	0.16%	0.09%
EQT	D	0.1%	0.17%	0.1%
ES	B	0.09%	0.24%	0.09%
ESAB	C	0.0%	0.05%	0.0%
ESS	A	0.05%	0.16%	0.05%
ETN	C	0.1%	0.04%	0.04%
ETR	A	0.14%	0.24%	0.14%
ETSY	F	0.01%	0.05%	0.01%
EVR	B	0.02%	0.07%	0.02%
EVRG	A	0.07%	0.23%	0.07%
EW	D	0.04%	0.06%	0.04%
EWBC	D	0.05%	0.07%	0.05%
EXC	A	0.2%	0.23%	0.2%
EXEL	A	0.02%	0.1%	0.02%
EXP	A	0.01%	0.06%	0.01%
EXPD	D	0.04%	0.04%	0.04%
EXPE	C	0.04%	0.05%	0.04%
EXR	A	0.05%	0.16%	0.05%
F	D	0.38%	0.05%	0.05%
FAF	A	0.04%	0.08%	0.04%
FANG	F	0.11%	0.18%	0.11%
FAST	C	0.03%	0.25%	0.03%
FCN	C	0.01%	0.05%	0.01%
FCX	D	0.08%	0.2%	0.08%
FDS	C	0.01%	0.07%	0.01%
FDX	C	0.26%	0.05%	0.05%
FE	B	0.07%	0.23%	0.07%
FFIV	A	0.02%	0.08%	0.02%
FHB	C	0.02%	0.07%	0.02%
FHN	C	0.05%	0.07%	0.05%
FICO	A	0.01%	0.06%	0.01%
FIS	A	0.11%	0.05%	0.05%
FITB	B	0.11%	0.07%	0.07%
FIVE	D	0.0%	0.04%	0.0%
FIX	B	0.01%	0.05%	0.01%
FLO	C	0.02%	0.16%	0.02%
FLS	D	0.01%	0.04%	0.01%
FMC	C	0.03%	0.27%	0.03%
FNB	D	0.03%	0.07%	0.03%
FND	C	0.01%	0.05%	0.01%
FNF	B	0.08%	0.08%	0.08%
FOXA	C	0.09%	0.06%	0.06%
FR	B	0.02%	0.17%	0.02%
FRT	B	0.02%	0.17%	0.02%
FSLR	D	0.03%	0.18%	0.03%
FTNT	B	0.04%	0.08%	0.04%
FTRE	F	0.0%	0.07%	0.0%
FTV	C	0.03%	0.05%	0.03%
FYBR	C	0.04%	0.73%	0.04%
G	B	0.02%	0.06%	0.02%
GAP	F	0.04%	0.04%	0.04%
GD	B	0.2%	0.05%	0.05%
GDDY	D	0.03%	0.07%	0.03%
GE	A	0.26%	0.05%	0.05%
GEHC	C	0.03%	0.09%	0.03%
GGG	C	0.01%	0.05%	0.01%
GILD	B	0.32%	0.1%	0.1%
GIS	B	0.13%	0.17%	0.13%
GL	C	0.03%	0.08%	0.03%
GLPI	B	0.05%	0.17%	0.05%
GLW	C	0.09%	0.07%	0.07%
GM	C	0.5%	0.05%	0.05%
GME	F	0.02%	0.04%	0.02%
GMED	D	0.01%	0.08%	0.01%
GNRC	D	0.02%	0.05%	0.02%
GNTX	F	0.01%	0.04%	0.01%
GO	F	0.01%	0.12%	0.01%
GOOGL	D	0.7%	0.05%	0.05%
GPC	D	0.06%	0.05%	0.05%
GPK	A	0.03%	0.05%	0.03%
GPN	C	0.06%	0.05%	0.05%
GRMN	D	0.06%	0.06%	0.06%
GS	D	0.52%	0.06%	0.06%
GWW	B	0.05%	0.05%	0.05%
GXO	D	0.02%	0.05%	0.02%
H	D	0.02%	0.05%	0.02%
HAL	F	0.08%	0.17%	0.08%
HAS	B	0.03%	0.06%	0.03%
HBAN	B	0.11%	0.07%	0.07%
HCA	A	0.23%	0.09%	0.09%
HD	B	0.49%	0.05%	0.05%
HES	F	0.06%	0.17%	0.06%
HIG	B	0.14%	0.07%	0.07%
HII	D	0.03%	0.05%	0.03%
HIW	A	0.03%	0.18%	0.03%
HLI	A	0.01%	0.07%	0.01%
HLT	B	0.02%	0.05%	0.02%
HOG	C	0.03%	0.06%	0.03%
HOLX	B	0.03%	0.09%	0.03%
HON	D	0.21%	0.04%	0.04%
HPE	F	0.21%	0.05%	0.05%
HPQ	D	0.27%	0.06%	0.06%
HRB	C	0.03%	0.06%	0.03%
HRL	C	0.08%	0.17%	0.08%
HSIC	D	0.03%	0.08%	0.03%
HST	D	0.04%	0.14%	0.04%
HSY	B	0.07%	0.17%	0.07%
HUBB	B	0.02%	0.05%	0.02%
HUM	F	0.23%	0.07%	0.07%
HWM	B	0.04%	0.05%	0.04%
HXL	F	0.01%	0.22%	0.01%
IBKR	B	0.04%	0.06%	0.04%
IBM	A	0.43%	0.08%	0.08%
ICE	B	0.12%	0.08%	0.08%
IDA	B	0.02%	0.23%	0.02%
IDXX	C	0.02%	0.08%	0.02%
IEX	D	0.01%	0.04%	0.01%
IFF	B	0.06%	0.25%	0.06%
ILMN	C	0.03%	0.1%	0.03%
INCY	C	0.02%	0.08%	0.02%
INGR	B	0.04%	0.19%	0.04%
INTC	F	0.27%	0.04%	0.04%
INTU	C	0.06%	0.07%	0.06%
INVH	B	0.05%	0.15%	0.05%
IP	B	0.15%	0.24%	0.15%
IPG	C	0.04%	0.05%	0.04%
IPGP	F	0.01%	0.05%	0.01%
IQV	C	0.06%	0.09%	0.06%
IR	D	0.02%	0.04%	0.02%
IRDM	D	0.0%	0.53%	0.0%
IRM	A	0.04%	0.19%	0.04%
ISRG	B	0.1%	0.09%	0.09%
IT	B	0.03%	0.07%	0.03%
ITT	C	0.01%	0.05%	0.01%
ITW	B	0.09%	0.05%	0.05%
IVZ	C	0.07%	0.07%	0.07%
J	D	0.04%	0.05%	0.04%
JAZZ	D	0.02%	0.08%	0.02%
JBHT	D	0.03%	0.05%	0.03%
JBL	D	0.04%	0.06%	0.04%
JCI	B	0.14%	0.05%	0.05%
JEF	B	0.05%	0.08%	0.05%
JHG	B	0.04%	0.07%	0.04%
JKHY	A	0.01%	0.05%	0.01%
JLL	B	0.05%	0.17%	0.05%
JNJ	B	0.89%	0.09%	0.09%
JNPR	B	0.03%	0.56%	0.03%
JPM	D	1.45%	0.06%	0.06%
JWN	C	0.02%	0.05%	0.02%
K	A	0.08%	0.22%	0.08%
KBR	D	0.02%	0.06%	0.02%
KD	D	0.03%	0.06%	0.03%
KDP	B	0.13%	0.17%	0.13%
KEX	C	0.02%	0.04%	0.02%
KEY	B	0.14%	0.07%	0.07%
KEYS	C	0.03%	0.05%	0.03%
KHC	C	0.26%	0.17%	0.17%
KIM	B	0.04%	0.18%	0.04%
KLAC	D	0.06%	0.05%	0.05%
KMB	C	0.12%	0.16%	0.12%
KMI	B	0.38%	0.21%	0.21%
KMPR	D	0.01%	0.06%	0.01%
KMX	D	0.05%	0.06%	0.05%
KNSL	C	0.0%	0.07%	0.0%
KNX	C	0.03%	0.05%	0.03%
KO	B	0.44%	0.18%	0.18%
KR	B	0.32%	0.18%	0.18%
KRC	C	0.04%	0.16%	0.04%
KSS	F	0.02%	0.05%	0.02%
KVUE	B	0.23%	0.2%	0.2%
L	C	0.13%	0.06%	0.06%
LAD	C	0.07%	0.06%	0.06%
LAMR	A	0.02%	0.16%	0.02%
LDOS	B	0.05%	0.07%	0.05%
LEA	F	0.06%	0.05%	0.05%
LECO	D	0.01%	0.04%	0.01%
LEG	D	0.01%	0.05%	0.01%
LEN	B	0.15%	0.06%	0.06%
LFUS	D	0.01%	0.04%	0.01%
LHX	C	0.1%	0.05%	0.05%
LII	A	0.02%	0.05%	0.02%
LIN	B	0.21%	0.25%	0.21%
LITE	C	0.01%	0.58%	0.01%
LKQ	D	0.04%	0.05%	0.04%
LLY	C	0.24%	0.09%	0.09%
LMT	B	0.36%	0.06%	0.06%
LNC	D	0.05%	0.06%	0.05%
LNT	A	0.04%	0.23%	0.04%
LNW	B	0.02%	0.06%	0.02%
LOPE	D	0.01%	0.05%	0.01%
LOW	B	0.22%	0.06%	0.06%
LPX	B	0.01%	0.05%	0.01%
LRCX	F	0.08%	0.04%	0.04%
LSCC	D	0.0%	0.05%	0.0%
LSTR	D	0.01%	0.05%	0.01%
LULU	D	0.03%	0.04%	0.03%
LUV	C	0.16%	0.05%	0.05%
LVS	D	0.06%	0.05%	0.05%
LW	D	0.01%	0.12%	0.01%
LYB	F	0.22%	0.23%	0.22%
LYV	C	0.03%	0.05%	0.03%
M	D	0.04%	0.04%	0.04%
MA	A	0.13%	0.05%	0.05%
MAA	A	0.04%	0.17%	0.04%
MAN	D	0.03%	0.04%	0.03%
MANH	A	0.0%	0.07%	0.0%
MAR	D	0.08%	0.05%	0.05%
MAS	B	0.03%	0.05%	0.03%
MASI	D	0.01%	0.07%	0.01%
MAT	C	0.01%	0.06%	0.01%
MCD	B	0.16%	0.06%	0.06%
MCHP	D	0.05%	0.05%	0.05%
MCK	F	0.35%	0.14%	0.14%
MCO	B	0.04%	0.07%	0.04%
MDLZ	B	0.22%	0.18%	0.18%
MDT	B	0.35%	0.09%	0.09%
MDU	B	0.03%	0.05%	0.03%
MEDP	D	0.01%	0.07%	0.01%
MET	B	0.42%	0.07%	0.07%
META	B	1.67%	0.07%	0.07%
MGM	D	0.05%	0.04%	0.04%
MHK	B	0.07%	0.06%	0.06%
MIDD	D	0.02%	0.05%	0.02%
MKC	B	0.05%	0.19%	0.05%
MKSI	F	0.01%	0.04%	0.01%
MKTX	C	0.01%	0.08%	0.01%
MLM	D	0.03%	0.04%	0.03%
MMC	A	0.13%	0.07%	0.07%
MMM	A	0.29%	0.06%	0.06%
MNST	C	0.05%	0.16%	0.05%
MO	C	0.37%	0.18%	0.18%
MOH	C	0.04%	0.09%	0.04%
MORN	C	0.01%	0.07%	0.01%
MOS	F	0.08%	0.21%	0.08%
MP	D	0.0%	0.24%	0.0%
MPC	F	0.54%	0.19%	0.19%
MPW	B	0.03%	0.17%	0.03%
MPWR	C	0.01%	0.07%	0.01%
MRK	D	0.39%	0.07%	0.07%
MRNA	F	0.03%	0.04%	0.03%
MRO	D	0.08%	0.19%	0.08%
MS	D	0.5%	0.06%	0.06%
MSA	D	0.01%	0.04%	0.01%
MSCI	C	0.01%	0.07%	0.01%
MSFT	C	1.47%	0.06%	0.06%
MSGS	B	0.0%	0.06%	0.0%
MSI	B	0.04%	0.58%	0.04%
MSM	D	0.02%	0.05%	0.02%
MTB	B	0.15%	0.07%	0.07%
MTCH	C	0.02%	0.07%	0.02%
MTD	D	0.02%	0.04%	0.02%
MTDR	F	0.02%	0.17%	0.02%
MTG	B	0.03%	0.07%	0.03%
MTN	D	0.02%	0.05%	0.02%
MTSI	D	0.01%	0.06%	0.01%
MTZ	B	0.02%	0.05%	0.02%
MU	F	0.13%	0.04%	0.04%
MUSA	B	0.04%	0.06%	0.04%
NBIX	D	0.01%	0.07%	0.01%
NCLH	C	0.02%	0.06%	0.02%
NDAQ	B	0.07%	0.08%	0.07%
NDSN	C	0.02%	0.05%	0.02%
NEE	B	0.38%	0.23%	0.23%
NEM	B	0.18%	0.29%	0.18%
NEU	C	0.01%	0.25%	0.01%
NFG	A	0.03%	0.22%	0.03%
NFLX	B	0.17%	0.05%	0.05%
NI	A	0.06%	0.24%	0.06%
NKE	D	0.13%	0.05%	0.05%
NNN	B	0.03%	0.16%	0.03%
NOC	B	0.16%	0.05%	0.05%
NOV	F	0.03%	0.18%	0.03%
NOW	B	0.06%	0.07%	0.06%
NRG	C	0.05%	0.2%	0.05%
NSA	A	0.01%	0.16%	0.01%
NSC	C	0.13%	0.05%	0.05%
NTAP	D	0.04%	0.06%	0.04%
NTRS	B	0.07%	0.07%	0.07%
NUE	D	0.11%	0.21%	0.11%
NVDA	D	0.29%	0.06%	0.06%
NVR	B	0.06%	0.06%	0.06%
NVST	D	0.01%	0.09%	0.01%
NVT	D	0.02%	0.04%	0.02%
NWL	C	0.03%	0.06%	0.03%
NWSA	D	0.03%	0.05%	0.03%
NXST	D	0.03%	0.05%	0.03%
NYT	C	0.01%	0.05%	0.01%
O	B	0.13%	0.17%	0.13%
OC	C	0.04%	0.04%	0.04%
ODFL	D	0.03%	0.05%	0.03%
OGE	B	0.03%	0.23%	0.03%
OGN	C	0.05%	0.08%	0.05%
OHI	B	0.04%	0.18%	0.04%
OKE	A	0.12%	0.23%	0.12%
OLED	C	0.01%	0.06%	0.01%
OLLI	C	0.01%	0.05%	0.01%
OLN	D	0.02%	0.2%	0.02%
OMC	B	0.07%	0.06%	0.06%
ON	D	0.05%	0.06%	0.05%
ONTO	D	0.01%	0.05%	0.01%
ORCL	B	0.36%	0.07%	0.07%
ORI	B	0.05%	0.07%	0.05%
ORLY	B	0.08%	0.05%	0.05%
OSK	D	0.02%	0.04%	0.02%
OTIS	C	0.03%	0.04%	0.03%
OVV	F	0.09%	0.17%	0.09%
OXY	F	0.19%	0.16%	0.16%
OZK	D	0.04%	0.06%	0.04%
PAG	D	0.03%	0.05%	0.03%
PANW	C	0.06%	0.07%	0.06%
PARA	F	0.05%	0.05%	0.05%
PAYC	D	0.01%	0.07%	0.01%
PAYX	B	0.05%	0.05%	0.05%
PB	B	0.03%	0.08%	0.03%
PCAR	D	0.11%	0.04%	0.04%
PCG	B	0.13%	0.22%	0.13%
PCTY	D	0.01%	0.05%	0.01%
PEG	A	0.13%	0.23%	0.13%
PEN	D	0.0%	0.09%	0.0%
PENN	D	0.03%	0.05%	0.03%
PEP	B	0.39%	0.17%	0.17%
PFE	C	0.85%	0.08%	0.08%
PFG	C	0.16%	0.06%	0.06%
PFGC	B	0.1%	0.17%	0.1%
PG	A	0.53%	0.17%	0.17%
PGR	B	0.19%	0.07%	0.07%
PH	B	0.08%	0.06%	0.06%
PHM	B	0.06%	0.07%	0.06%
PII	D	0.02%	0.05%	0.02%
PINC	C	0.01%	0.09%	0.01%
PK	F	0.03%	0.13%	0.03%
PKG	B	0.04%	0.05%	0.04%
PLD	B	0.16%	0.17%	0.16%
PLNT	B	0.0%	0.06%	0.0%
PM	B	0.58%	0.2%	0.2%
PNC	B	0.38%	0.07%	0.07%
PNFP	B	0.02%	0.07%	0.02%
PNR	A	0.02%	0.05%	0.02%
PNW	A	0.05%	0.24%	0.05%
PODD	B	0.01%	0.09%	0.01%
POOL	C	0.01%	0.05%	0.01%
POST	C	0.03%	0.18%	0.03%
PPC	D	0.02%	0.18%	0.02%
PPG	C	0.07%	0.04%	0.04%
PPL	A	0.09%	0.23%	0.09%
PR	D	0.02%	0.17%	0.02%
PRGO	C	0.02%	0.09%	0.02%
PRI	B	0.02%	0.07%	0.02%
PRU	C	0.39%	0.06%	0.06%
PSA	A	0.07%	0.18%	0.07%
PSTG	D	0.01%	0.05%	0.01%
PSX	F	0.5%	0.18%	0.18%
PTC	D	0.02%	0.06%	0.02%
PVH	D	0.02%	0.04%	0.02%
PWR	C	0.03%	0.04%	0.03%
PYPL	B	0.17%	0.05%	0.05%
QCOM	D	0.23%	0.05%	0.05%
QRVO	F	0.02%	0.06%	0.02%
R	B	0.05%	0.05%	0.05%
RBC	D	0.01%	0.25%	0.01%
RCL	B	0.06%	0.06%	0.06%
RCM	C	0.01%	0.09%	0.01%
REG	B	0.04%	0.17%	0.04%
REGN	C	0.15%	0.09%	0.09%
REXR	C	0.02%	0.16%	0.02%
RF	C	0.11%	0.07%	0.07%
RGA	B	0.13%	0.06%	0.06%
RGEN	F	0.01%	0.1%	0.01%
RGLD	B	0.01%	0.27%	0.01%
RH	C	0.01%	0.06%	0.01%
RHI	D	0.02%	0.04%	0.02%
RJF	C	0.05%	0.06%	0.05%
RL	B	0.03%	0.05%	0.03%
RLI	B	0.01%	0.07%	0.01%
RMD	B	0.03%	0.09%	0.03%
RNR	B	0.05%	0.07%	0.05%
ROK	D	0.04%	0.05%	0.04%
ROL	B	0.01%	0.05%	0.01%
ROP	B	0.05%	0.06%	0.05%
ROST	C	0.07%	0.05%	0.05%
RPM	B	0.02%	0.05%	0.02%
RRC	D	0.03%	0.17%	0.03%
RRX	C	0.02%	0.05%	0.02%
RS	D	0.05%	0.23%	0.05%
RSG	B	0.09%	0.22%	0.09%
RTX	C	0.48%	0.05%	0.05%
RYN	C	0.01%	0.15%	0.01%
SAIA	D	0.01%	0.04%	0.01%
SAIC	B	0.02%	0.07%	0.02%
SAM	F	0.0%	0.15%	0.0%
SBAC	B	0.02%	0.18%	0.02%
SBUX	C	0.14%	0.06%	0.06%
SCHW	D	0.22%	0.05%	0.05%
SCI	A	0.02%	0.06%	0.02%
SEE	D	0.01%	0.04%	0.01%
SEIC	C	0.01%	0.06%	0.01%
SF	B	0.03%	0.06%	0.03%
SHC	B	0.01%	0.11%	0.01%
SHW	A	0.06%	0.06%	0.06%
SJM	C	0.05%	0.17%	0.05%
SKX	C	0.03%	0.05%	0.03%
SLB	F	0.14%	0.18%	0.14%
SLGN	B	0.02%	0.05%	0.02%
SLM	D	0.02%	0.07%	0.02%
SMCI	F	0.01%	0.03%	0.01%
SMG	C	0.01%	0.24%	0.01%
SNA	B	0.03%	0.05%	0.03%
SNPS	D	0.04%	0.05%	0.04%
SNV	C	0.03%	0.07%	0.03%
SNX	D	0.08%	0.05%	0.05%
SO	A	0.32%	0.23%	0.23%
SOLV	C	0.01%	0.1%	0.01%
SON	C	0.03%	0.04%	0.03%
SPG	B	0.06%	0.16%	0.06%
SPGI	A	0.13%	0.07%	0.07%
SRCL	A	0.01%	0.22%	0.01%
SRE	B	0.17%	0.22%	0.17%
SSD	C	0.01%	0.05%	0.01%
ST	F	0.02%	0.04%	0.02%
STAG	B	0.02%	0.16%	0.02%
STE	B	0.02%	0.09%	0.02%
STLD	F	0.07%	0.21%	0.07%
STT	B	0.13%	0.07%	0.07%
STWD	B	0.05%	0.06%	0.05%
STZ	C	0.05%	0.15%	0.05%
SWK	B	0.06%	0.05%	0.05%
SWKS	F	0.05%	0.06%	0.05%
SWN	D	0.06%	0.18%	0.06%
SYF	D	0.18%	0.05%	0.05%
SYK	B	0.09%	0.09%	0.09%
SYY	C	0.13%	0.17%	0.13%
T	A	1.35%	0.61%	0.61%
TAP	C	0.09%	0.17%	0.09%
TDC	F	0.01%	0.05%	0.01%
TDG	B	0.02%	0.05%	0.02%
TDY	B	0.03%	0.05%	0.03%
TECH	D	0.0%	0.08%	0.0%
TER	D	0.02%	0.05%	0.02%
TFC	D	0.52%	0.07%	0.07%
TFX	B	0.02%	0.1%	0.02%
TGT	C	0.23%	0.05%	0.05%
THC	B	0.06%	0.09%	0.06%
THG	A	0.02%	0.07%	0.02%
THO	C	0.03%	0.06%	0.03%
TJX	B	0.17%	0.06%	0.06%
TKO	B	0.04%	0.06%	0.04%
TKR	D	0.02%	0.23%	0.02%
TMO	B	0.18%	0.09%	0.09%
TMUS	A	0.41%	0.59%	0.41%
TNL	F	0.01%	0.05%	0.01%
TOL	B	0.05%	0.06%	0.05%
TPR	C	0.03%	0.05%	0.03%
TPX	C	0.01%	0.05%	0.01%
TREX	F	0.01%	0.03%	0.01%
TRGP	B	0.07%	0.24%	0.07%
TRIP	F	0.0%	0.04%	0.0%
TRMB	C	0.02%	0.05%	0.02%
TROW	D	0.07%	0.06%	0.06%
TRV	A	0.17%	0.07%	0.07%
TSCO	B	0.04%	0.05%	0.04%
TSLA	C	0.48%	0.07%	0.07%
TSN	C	0.17%	0.18%	0.17%
TT	A	0.07%	0.05%	0.05%
TTC	D	0.01%	0.04%	0.01%
TTEK	B	0.02%	0.05%	0.02%
TTWO	D	0.02%	0.05%	0.02%
TXN	D	0.25%	0.06%	0.06%
TXRH	D	0.01%	0.05%	0.01%
TXT	D	0.04%	0.05%	0.04%
TYL	B	0.02%	0.08%	0.02%
UAA	C	0.01%	0.05%	0.01%
UAL	C	0.13%	0.05%	0.05%
UBER	C	0.08%	0.05%	0.05%
UDR	B	0.03%	0.16%	0.03%
UGI	B	0.05%	0.21%	0.05%
UHS	B	0.06%	0.1%	0.06%
ULTA	D	0.03%	0.05%	0.03%
UNH	C	1.22%	0.1%	0.1%
UNM	B	0.09%	0.07%	0.07%
UNP	B	0.25%	0.05%	0.05%
UPS	D	0.37%	0.04%	0.04%
URI	C	0.06%	0.05%	0.05%
USB	C	0.37%	0.07%	0.07%
USFD	A	0.07%	0.18%	0.07%
UTHR	C	0.04%	0.09%	0.04%
V	A	0.4%	0.05%	0.05%
VAC	F	0.01%	0.04%	0.01%
VFC	C	0.05%	0.06%	0.05%
VICI	B	0.1%	0.17%	0.1%
VLO	F	0.4%	0.18%	0.18%
VLTO	B	0.02%	0.05%	0.02%
VMC	D	0.03%	0.04%	0.03%
VMI	D	0.01%	0.05%	0.01%
VNO	A	0.05%	0.2%	0.05%
VNT	D	0.01%	0.04%	0.01%
VOYA	A	0.04%	0.06%	0.04%
VRSK	D	0.01%	0.05%	0.01%
VRSN	D	0.02%	0.06%	0.02%
VRTX	C	0.11%	0.08%	0.08%
VST	C	0.06%	0.18%	0.06%
VSTS	D	0.02%	0.06%	0.02%
VTR	B	0.08%	0.19%	0.08%
VTRS	C	0.13%	0.09%	0.09%
VVV	D	0.02%	0.23%	0.02%
VZ	A	1.58%	0.56%	0.56%
WAB	B	0.04%	0.05%	0.04%
WAT	C	0.02%	0.05%	0.02%
WBA	F	0.06%	0.09%	0.06%
WBD	D	0.15%	0.06%	0.06%
WBS	D	0.03%	0.07%	0.03%
WCC	D	0.03%	0.04%	0.03%
WDC	D	0.05%	0.05%	0.05%
WEC	B	0.1%	0.24%	0.1%
WELL	B	0.12%	0.18%	0.12%
WEN	C	0.01%	0.05%	0.01%
WEX	C	0.01%	0.05%	0.01%
WFC	F	1.05%	0.05%	0.05%
WFRD	D	0.02%	0.16%	0.02%
WH	B	0.01%	0.05%	0.01%
WHR	D	0.05%	0.05%	0.05%
WING	B	0.0%	0.05%	0.0%
WLK	D	0.04%	0.21%	0.04%
WM	D	0.1%	0.2%	0.1%
WMB	A	0.16%	0.22%	0.16%
WMS	D	0.01%	0.04%	0.01%
WMT	B	1.73%	0.06%	0.06%
WOLF	F	0.0%	0.02%	0.0%
WPC	B	0.05%	0.16%	0.05%
WRB	C	0.05%	0.07%	0.05%
WSM	C	0.02%	0.05%	0.02%
WSO	C	0.03%	0.04%	0.03%
WST	F	0.01%	0.07%	0.01%
WTFC	C	0.02%	0.07%	0.02%
WTRG	D	0.03%	0.21%	0.03%
WTW	B	0.07%	0.07%	0.07%
WU	F	0.04%	0.04%	0.04%
WWD	D	0.02%	0.04%	0.02%
WY	C	0.07%	0.16%	0.07%
WYNN	D	0.02%	0.04%	0.02%
X	D	0.06%	0.22%	0.06%
XEL	B	0.14%	0.24%	0.14%
XOM	D	2.02%	0.2%	0.2%
XPO	D	0.03%	0.05%	0.03%
XRAY	D	0.01%	0.08%	0.01%
XYL	D	0.03%	0.04%	0.03%
YETI	D	0.0%	0.05%	0.0%
YUM	B	0.03%	0.05%	0.03%
ZBH	D	0.05%	0.08%	0.05%
ZBRA	C	0.02%	0.05%	0.02%
ZI	D	0.0%	0.05%	0.0%
ZION	D	0.06%	0.07%	0.06%
ZTS	B	0.05%	0.09%	0.05%

VLU Overweight 615 Positions Relative to EQAL

Symbol	Grade	Weight
GOOG	D	1.14%
SW	B	0.21%
TEL	D	0.1%
NXPI	F	0.08%
JXN	B	0.05%
LUMN	C	0.05%
COOP	B	0.05%
MUR	F	0.05%
FOX	C	0.04%
STX	D	0.04%
GPI	B	0.04%
ABG	F	0.04%
CNX	B	0.04%
BKH	A	0.04%
TMHC	B	0.04%
OGS	A	0.04%
VLY	C	0.03%
CNO	B	0.03%
SANM	D	0.03%
ABM	D	0.03%
PBF	F	0.03%
GNW	B	0.03%
ONB	C	0.03%
CMC	D	0.03%
NOG	F	0.03%
ASB	D	0.03%
BXMT	C	0.03%
RDN	C	0.03%
CATY	C	0.03%
HP	F	0.03%
CNK	B	0.03%
BKU	C	0.03%
DEI	A	0.03%
HCC	D	0.03%
APLE	D	0.03%
HWC	D	0.03%
FLR	D	0.03%
GHC	C	0.03%
MLI	B	0.03%
CALM	B	0.03%
SM	F	0.03%
ALV	F	0.02%
TGNA	C	0.02%
SATS	B	0.02%
SSB	B	0.02%
TRN	C	0.02%
SFNC	B	0.02%
SFM	B	0.02%
KBH	B	0.02%
CADE	C	0.02%
PRG	B	0.02%
UBSI	C	0.02%
MTH	B	0.02%
CWK	B	0.02%
ABR	C	0.02%
CEIX	C	0.02%
NSIT	C	0.02%
ESNT	B	0.02%
GT	F	0.02%
FFBC	C	0.02%
WAFD	B	0.02%
HBI	B	0.02%
SEM	D	0.02%
PFS	C	0.02%
TPH	C	0.02%
FL	D	0.02%
BTU	D	0.02%
TDS	B	0.02%
SBRA	A	0.02%
SNEX	C	0.02%
UFPI	C	0.02%
ARCH	D	0.02%
URBN	D	0.02%
ERIE	B	0.02%
ENVA	C	0.02%
IBOC	C	0.02%
IBTX	B	0.02%
HOMB	C	0.02%
AVNT	B	0.02%
RNST	D	0.02%
TCBI	B	0.02%
VGR	C	0.02%
ALE	B	0.02%
SR	A	0.02%
SWX	C	0.02%
PNM	B	0.02%
MLKN	D	0.02%
ADNT	F	0.02%
CRS	B	0.02%
BANR	B	0.02%
POR	A	0.02%
SIG	C	0.02%
MATX	C	0.02%
AUB	C	0.02%
BANC	C	0.02%
NWE	A	0.02%
UMBF	B	0.02%
OI	D	0.02%
NATL	D	0.02%
MHO	B	0.02%
JBLU	D	0.02%
JBGS	B	0.02%
KRG	B	0.02%
GNL	C	0.02%
RUN	C	0.02%
VSCO	C	0.02%
GBCI	C	0.02%
CRC	C	0.02%
KAR	D	0.02%
SLG	B	0.02%
MMS	D	0.02%
CBT	B	0.02%
GEO	D	0.02%
SKYW	C	0.02%
BCC	C	0.02%
RUSHA	C	0.02%
BHE	C	0.02%
SIGI	C	0.02%
FULT	D	0.02%
ANDE	D	0.02%
GEF	D	0.02%
AVA	B	0.02%
PDCO	D	0.02%
ASO	C	0.02%
ABCB	B	0.02%
NWBI	C	0.02%
SPNT	C	0.02%
LBRT	D	0.02%
GBX	C	0.02%
MCY	C	0.02%
NJR	A	0.02%
MOG.A	B	0.01%
CABO	F	0.01%
CXW	D	0.01%
HUBG	C	0.01%
ARI	F	0.01%
MGY	D	0.01%
HTH	C	0.01%
HOPE	C	0.01%
GATX	C	0.01%
REZI	D	0.01%
NMIH	B	0.01%
IIPR	A	0.01%
PEB	D	0.01%
UVV	D	0.01%
ENS	D	0.01%
TALO	F	0.01%
KFY	B	0.01%
PTEN	F	0.01%
NAVI	C	0.01%
SLVM	B	0.01%
FBP	D	0.01%
VSH	F	0.01%
CVBF	C	0.01%
PPBI	D	0.01%
DY	C	0.01%
AX	D	0.01%
INDB	C	0.01%
ASGN	D	0.01%
WOR	F	0.01%
INVA	B	0.01%
NWN	B	0.01%
PLXS	B	0.01%
BANF	B	0.01%
UCBI	B	0.01%
BCO	B	0.01%
HNI	C	0.01%
VBTX	B	0.01%
MAC	B	0.01%
PMT	C	0.01%
KTB	A	0.01%
RC	F	0.01%
UA	C	0.01%
EPRT	A	0.01%
EAT	B	0.01%
ATGE	D	0.01%
GRBK	B	0.01%
DEA	B	0.01%
GIII	C	0.01%
AMR	F	0.01%
DAN	F	0.01%
CBU	C	0.01%
AIT	C	0.01%
PSMT	B	0.01%
ACIW	B	0.01%
TRMK	C	0.01%
CCOI	C	0.01%
WERN	D	0.01%
VAL	F	0.01%
ACA	C	0.01%
KW	C	0.01%
ECPG	C	0.01%
AEO	F	0.01%
OPCH	C	0.01%
VSAT	F	0.01%
OMI	D	0.01%
FUL	D	0.01%
FDP	B	0.01%
LCII	C	0.01%
LPG	F	0.01%
SBH	C	0.01%
BGC	B	0.01%
PBI	D	0.01%
FN	D	0.01%
CTRE	A	0.01%
KLG	C	0.01%
PARR	F	0.01%
FHI	B	0.01%
NBTB	D	0.01%
PBH	B	0.01%
SCSC	D	0.01%
WSFS	D	0.01%
CCS	B	0.01%
GMS	C	0.01%
TEX	D	0.01%
ENSG	A	0.01%
STBA	C	0.01%
FFIN	C	0.01%
AMN	F	0.01%
XRX	F	0.01%
LRN	B	0.01%
LZB	C	0.01%
BOH	C	0.01%
BRC	B	0.01%
RXO	D	0.01%
BHLB	C	0.01%
ITRI	C	0.01%
PECO	B	0.01%
PRK	C	0.01%
CNXN	B	0.01%
PATK	A	0.01%
LNTH	C	0.01%
CENTA	D	0.01%
PCH	C	0.01%
SAH	D	0.01%
SABR	D	0.01%
WWW	B	0.01%
BDN	B	0.01%
WS	D	0.01%
HGV	D	0.01%
DIOD	F	0.01%
IRT	A	0.01%
ITGR	B	0.01%
TTMI	D	0.01%
NWS	D	0.01%
WTS	C	0.01%
IDCC	B	0.01%
CAKE	D	0.01%
NSP	F	0.01%
OTTR	D	0.01%
PIPR	B	0.01%
CHX	D	0.01%
GVA	B	0.01%
AKR	B	0.01%
ODP	F	0.01%
OFG	C	0.01%
ANF	D	0.01%
RWT	A	0.01%
UNFI	C	0.01%
PHIN	C	0.01%
UNF	B	0.01%
NPO	D	0.01%
APAM	C	0.01%
VSTO	B	0.01%
WGO	D	0.01%
SXT	D	0.01%
SHOO	B	0.01%
MTX	F	0.01%
FWRD	C	0.01%
MATV	B	0.01%
KMT	B	0.01%
CRK	D	0.01%
FCF	C	0.01%
LXP	B	0.01%
ORA	C	0.01%
HMN	C	0.01%
SPTN	C	0.01%
AHCO	B	0.01%
SFBS	B	0.01%
ICUI	B	0.01%
HASI	B	0.01%
SCVL	C	0.01%
DLX	D	0.01%
FBK	B	0.01%
BLMN	F	0.01%
LTC	B	0.01%
BCPC	C	0.01%
HALO	B	0.01%
DCOM	B	0.01%
EXPI	C	0.01%
FTDR	B	0.01%
OMCL	C	0.01%
VC	F	0.01%
UE	B	0.01%
WD	B	0.01%
HI	F	0.01%
KELYA	D	0.01%
AXL	F	0.01%
BRKL	C	0.01%
LGIH	C	0.01%
STC	B	0.01%
AROC	D	0.01%
AVAV	D	0.01%
BOOT	B	0.01%
PUMP	F	0.01%
CBRL	F	0.01%
THS	C	0.01%
ARCB	D	0.01%
DORM	B	0.01%
ROIC	B	0.01%
LANC	D	0.01%
IOSP	D	0.01%
OII	D	0.01%
IBP	C	0.01%
FCPT	A	0.01%
TBBK	B	0.01%
PLUS	B	0.01%
SCHL	D	0.01%
EXLS	B	0.01%
CPF	B	0.01%
NBR	F	0.01%
ALKS	C	0.01%
NOVT	D	0.01%
OUT	B	0.01%
OSIS	C	0.01%
ENR	D	0.01%
KWR	D	0.01%
NHC	D	0.01%
B	D	0.01%
HAIN	D	0.01%
MC	B	0.01%
CASH	B	0.01%
BDC	B	0.01%
MNRO	D	0.01%
FELE	D	0.01%
CAL	F	0.01%
SXC	F	0.01%
CVCO	B	0.01%
SVC	F	0.01%
PJT	C	0.01%
JJSF	D	0.01%
MGEE	A	0.01%
EPC	F	0.01%
EIG	B	0.01%
MMSI	A	0.01%
SHO	D	0.01%
KLIC	D	0.01%
KN	D	0.01%
NVRI	D	0.01%
CVI	F	0.01%
ASIX	C	0.01%
EGBN	C	0.01%
KALU	D	0.01%
SBCF	C	0.01%
GTLS	F	0.01%
YELP	F	0.01%
GTY	A	0.01%
CARG	B	0.01%
CFFN	D	0.01%
MODG	F	0.01%
CWT	A	0.01%
SYNA	F	0.01%
SKT	B	0.01%
BKE	B	0.01%
TMP	C	0.01%
STRA	D	0.01%
HPP	F	0.01%
CPK	A	0.01%
EFC	A	0.01%
INN	C	0.01%
HQY	C	0.01%
HLX	F	0.01%
PLAB	D	0.01%
WRLD	D	0.01%
LGND	C	0.01%
SMPL	D	0.01%
HWKN	C	0.01%
FSS	D	0.01%
FORM	F	0.01%
CHEF	C	0.01%
DNOW	D	0.01%
SBSI	C	0.01%
DRH	C	0.01%
AIN	F	0.01%
FIZZ	F	0.01%
ZD	D	0.01%
UCTT	F	0.01%
SAFT	C	0.01%
EZPW	D	0.01%
MYGN	C	0.01%
MRCY	C	0.01%
VIR	F	0.01%
GFF	C	0.01%
CHCO	B	0.01%
HCSG	C	0.01%
BGS	D	0.01%
RES	F	0.01%
CUBI	F	0.01%
KREF	B	0.01%
AWR	B	0.01%
MMI	C	0.01%
AAT	B	0.01%
ESE	C	0.01%
RDNT	B	0.01%
AMWD	C	0.01%
KNF	B	0.01%
NBHC	D	0.01%
CVLT	B	0.01%
AZZ	D	0.01%
GDOT	C	0.01%
ALEX	B	0.01%
NGVT	F	0.01%
MD	C	0.01%
XHR	C	0.01%
GES	F	0.01%
HAE	D	0.01%
BFS	B	0.01%
MCRI	C	0.01%
JBT	D	0.01%
SCL	D	0.01%
CSR	C	0.01%
UNIT	C	0.0%
FBNC	C	0.0%
CORT	B	0.0%
TRST	C	0.0%
PRDO	D	0.0%
SUPN	D	0.0%
AEIS	D	0.0%
TWI	D	0.0%
APOG	C	0.0%
VRRM	D	0.0%
PFBC	C	0.0%
ADUS	B	0.0%
NEOG	D	0.0%
UFCS	D	0.0%
MYRG	F	0.0%
FOXF	F	0.0%
SHAK	C	0.0%
QNST	C	0.0%
UTL	B	0.0%
ACLS	F	0.0%
HAFC	C	0.0%
ROCK	D	0.0%
NEO	C	0.0%
IPAR	D	0.0%
VRTS	D	0.0%
TR	C	0.0%
VTOL	D	0.0%
HFWA	C	0.0%
PRAA	F	0.0%
MTRN	F	0.0%
HLIT	C	0.0%
AOSL	D	0.0%
CLW	F	0.0%
ROG	D	0.0%
SMTC	C	0.0%
ENV	C	0.0%
ETH	F	0.0%
PRA	C	0.0%
AIR	C	0.0%
BOX	A	0.0%
CNSL	A	0.0%
ALGT	F	0.0%
IART	F	0.0%
NTCT	D	0.0%
MRTN	D	0.0%
LKFN	C	0.0%
FLGT	D	0.0%
AMBC	F	0.0%
HZO	C	0.0%
HELE	D	0.0%
DIN	F	0.0%
CALX	D	0.0%
HAYN	D	0.0%
JOE	D	0.0%
EVTC	D	0.0%
CRVL	B	0.0%
PLMR	B	0.0%
MGPI	C	0.0%
PRFT	A	0.0%
PAHC	B	0.0%
EXPO	B	0.0%
PRGS	B	0.0%
OXM	D	0.0%
NVEE	F	0.0%
DVAX	D	0.0%
ASTH	B	0.0%
PLAY	F	0.0%
HTZ	F	0.0%
RCUS	C	0.0%
DFIN	B	0.0%
RAMP	F	0.0%
SMP	C	0.0%
USPH	F	0.0%
TILE	B	0.0%
AMCX	F	0.0%
RMBS	F	0.0%
MATW	F	0.0%
CNMD	D	0.0%
CENX	D	0.0%
BLKB	B	0.0%
MOV	F	0.0%
ZEUS	F	0.0%
DXPE	C	0.0%
SJW	C	0.0%
REX	D	0.0%
DBI	F	0.0%
WABC	D	0.0%
GDEN	D	0.0%
POWL	C	0.0%
ALRM	F	0.0%
AMSF	C	0.0%
EYE	F	0.0%
WNC	F	0.0%
AVNS	B	0.0%
NX	D	0.0%
AMPH	C	0.0%
CSGS	C	0.0%
LIVN	D	0.0%
HTLD	D	0.0%
KOP	F	0.0%
VIAV	D	0.0%
WDFC	C	0.0%
BSIG	C	0.0%
MTUS	F	0.0%
QLYS	F	0.0%
MERC	F	0.0%
MCW	D	0.0%
SGH	F	0.0%
THRY	D	0.0%
POWI	F	0.0%
THRM	D	0.0%
TNC	D	0.0%
SPSC	D	0.0%
VECO	F	0.0%
CVGW	B	0.0%
EXTR	C	0.0%
ALG	D	0.0%
HRMY	B	0.0%
COLL	C	0.0%
SONO	F	0.0%
RGR	F	0.0%
GPRE	F	0.0%
LNN	C	0.0%
SEDG	F	0.0%
CCRN	F	0.0%
USNA	F	0.0%
JACK	F	0.0%
CENT	D	0.0%
PZZA	D	0.0%
IRWD	F	0.0%
PRVA	F	0.0%
HSII	C	0.0%
SHEN	F	0.0%
CYTK	D	0.0%
AHH	B	0.0%
CPRX	B	0.0%
SLAB	D	0.0%
IIIN	D	0.0%
SXI	D	0.0%
VVI	D	0.0%
WSR	D	0.0%
CARS	D	0.0%
PRLB	D	0.0%
TRUP	B	0.0%
NUS	F	0.0%
CTS	D	0.0%
ASTE	F	0.0%
EPAC	B	0.0%
MYE	F	0.0%
XNCR	C	0.0%
MXL	F	0.0%
DGII	D	0.0%
NXRT	B	0.0%
GKOS	D	0.0%
JBSS	F	0.0%
TNDM	C	0.0%
SSTK	F	0.0%
HVT	D	0.0%
ICHR	F	0.0%
NABL	D	0.0%
BJRI	D	0.0%
ARWR	F	0.0%
PGNY	F	0.0%
CEVA	C	0.0%
LQDT	B	0.0%
RGNX	D	0.0%
BMI	A	0.0%
COHU	D	0.0%
CRSR	F	0.0%
HCI	C	0.0%
TGI	F	0.0%
STAA	F	0.0%
CHCT	F	0.0%
TTGT	F	0.0%
SITM	C	0.0%
SNCY	F	0.0%
CMP	F	0.0%
CLB	D	0.0%
EMBC	C	0.0%
GOGO	F	0.0%
PCRX	F	0.0%
MSEX	C	0.0%
RILY	F	0.0%
VREX	F	0.0%
LESL	F	0.0%
VCEL	F	0.0%
AGYS	D	0.0%
NARI	F	0.0%
CHUY	B	0.0%
XPEL	D	0.0%
NPK	C	0.0%
DDD	F	0.0%
UHT	B	0.0%
VICR	F	0.0%

VLU Underweight 156 Positions Relative to EQAL

Symbol	Grade	Weight
UI	B	-0.73%
ROKU	C	-0.7%
LBRDK	D	-0.61%
ESI	D	-0.22%
LNG	C	-0.22%
HUN	D	-0.22%
TPL	C	-0.21%
SCCO	D	-0.21%
FTI	D	-0.2%
AGR	B	-0.2%
FRPT	B	-0.18%
REYN	C	-0.18%
SUI	B	-0.18%
SEB	C	-0.17%
Z	B	-0.17%
SPB	B	-0.16%
HHH	C	-0.16%
COLD	D	-0.16%
ACI	D	-0.15%
ALNY	C	-0.13%
RARE	B	-0.12%
EXAS	C	-0.12%
VEEV	C	-0.1%
INSP	C	-0.1%
AVTR	B	-0.1%
VKTX	C	-0.1%
NFE	F	-0.1%
QGEN	B	-0.09%
TXG	D	-0.09%
NTRA	B	-0.09%
PSN	B	-0.08%
U	D	-0.08%
SMAR	B	-0.08%
DNB	C	-0.08%
S	C	-0.08%
GWRE	A	-0.08%
GTLB	D	-0.08%
LCID	C	-0.08%
UWMC	C	-0.08%
ITCI	D	-0.08%
BMRN	F	-0.08%
TPG	B	-0.08%
IONS	F	-0.08%
SRPT	F	-0.08%
WAL	B	-0.08%
MDB	D	-0.08%
RPRX	C	-0.08%
VIRT	B	-0.08%
RKT	B	-0.08%
PLTR	B	-0.08%
APP	B	-0.08%
TEAM	D	-0.07%
AGNC	A	-0.07%
RBLX	B	-0.07%
TFSL	C	-0.07%
PATH	D	-0.07%
CVNA	B	-0.07%
AXS	B	-0.07%
ARES	C	-0.07%
DOCU	C	-0.07%
SN	B	-0.07%
DOX	C	-0.07%
KKR	B	-0.07%
IAC	C	-0.07%
RIVN	F	-0.07%
TWLO	D	-0.07%
TW	A	-0.07%
FCNCA	D	-0.07%
CNA	C	-0.07%
BOKF	B	-0.07%
ZM	C	-0.07%
BPOP	C	-0.07%
CLVT	D	-0.07%
RYAN	C	-0.07%
PEGA	C	-0.07%
BFAM	B	-0.07%
NTNX	C	-0.07%
WDAY	D	-0.07%
GLOB	D	-0.07%
DASH	C	-0.07%
SSNC	A	-0.07%
SOFI	C	-0.07%
PYCR	D	-0.07%
APLS	D	-0.07%
NU	B	-0.07%
SNOW	F	-0.06%
GEV	B	-0.06%
SPOT	C	-0.06%
TTD	B	-0.06%
PCOR	D	-0.06%
SNDR	B	-0.06%
RBA	B	-0.06%
MSTR	D	-0.06%
OMF	D	-0.06%
NCNO	F	-0.06%
CRBG	D	-0.06%
ZS	F	-0.06%
CPNG	B	-0.06%
UHAL	B	-0.06%
WTM	D	-0.06%
BSY	D	-0.06%
DDOG	D	-0.06%
APO	C	-0.06%
DUOL	C	-0.06%
VRT	C	-0.06%
APPF	D	-0.06%
OWL	C	-0.06%
QS	F	-0.06%
TRU	A	-0.06%
MKL	C	-0.06%
HOOD	C	-0.06%
NET	D	-0.06%
MRVL	C	-0.06%
HCP	A	-0.06%
AFRM	C	-0.06%
TOST	C	-0.06%
RNG	D	-0.06%
ELAN	D	-0.06%
XP	D	-0.06%
CNH	C	-0.05%
BROS	D	-0.05%
WSC	D	-0.05%
BAH	B	-0.05%
SQ	D	-0.05%
DKNG	D	-0.05%
DELL	D	-0.05%
PLTK	D	-0.05%
HAYW	D	-0.05%
GTES	C	-0.05%
SPR	D	-0.05%
GFS	F	-0.05%
BILL	D	-0.05%
ENTG	D	-0.05%
HEI	A	-0.05%
FOUR	C	-0.05%
ALSN	B	-0.05%
INFA	D	-0.05%
OKTA	F	-0.05%
SITE	D	-0.05%
HUBS	D	-0.05%
DJT	F	-0.04%
BIRK	D	-0.04%
DDS	D	-0.04%
APG	D	-0.04%
AZEK	C	-0.04%
PINS	F	-0.04%
CRWD	D	-0.04%
ESTC	F	-0.04%
FIVN	F	-0.04%
COIN	F	-0.04%
LYFT	D	-0.04%
ADTN	F	-0.04%
W	D	-0.04%
LPLA	F	-0.04%
CFLT	F	-0.04%
SEG	C	-0.01%