VLU vs. IUSG ETF Comparison

Comparison of SPDR S&P 1500 Value Tilt ETF (VLU) to iShares Core U.S. Growth ETF (IUSG)

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

$191.64

Average Daily Volume

7,505

Number of Holdings ^*

1420

* may have additional holdings in another (foreign) market

IUSG

iShares Core U.S. Growth ETF

IUSG Description

The investment seeks to track the investment results of a broad-based index composed of U.S. equities that exhibit growth characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell 3000 Growth Index (the "underlying index"), which measures the performance of the growth sector of the broad U.S. equity market.

Grade (RS Rating)

Last Trade

$139.34

Average Daily Volume

430,873

Number of Holdings ^*

485

* may have additional holdings in another (foreign) market

Performance

Period	VLU	IUSG
30 Days	4.03%	4.67%
60 Days	8.38%	13.57%
90 Days	11.35%	15.10%
12 Months	36.21%	46.15%

461 Overlapping Holdings

	Symbol	Grade	Weight in VLU	Weight in IUSG	Overlap
	AAON	B	0.0%	0.03%	0.0%
	AAPL	B	2.52%	11.61%	2.52%
	ABBV	B	0.47%	0.46%	0.46%
	ABNB	D	0.06%	0.1%	0.06%
	ACGL	D	0.12%	0.12%	0.12%
	ACHC	F	0.01%	0.01%	0.01%
	ACM	B	0.03%	0.02%	0.02%
	ACN	C	0.31%	0.4%	0.31%
	ADBE	F	0.17%	0.73%	0.17%
	ADI	D	0.14%	0.23%	0.14%
	ADP	A	0.09%	0.16%	0.09%
	ADSK	A	0.03%	0.11%	0.03%
	AIT	A	0.01%	0.03%	0.01%
	AJG	C	0.05%	0.11%	0.05%
	AKAM	F	0.03%	0.02%	0.02%
	ALGM	F	0.01%	0.0%	0.0%
	ALGN	F	0.02%	0.03%	0.02%
	ALLE	C	0.02%	0.02%	0.02%
	ALV	C	0.02%	0.01%	0.01%
	AM	B	0.02%	0.01%	0.01%
	AMAT	D	0.12%	0.52%	0.12%
	AMD	F	0.13%	0.79%	0.13%
	AME	A	0.03%	0.07%	0.03%
	AMED	C	0.01%	0.0%	0.0%
	AMH	D	0.03%	0.02%	0.02%
	AMP	B	0.11%	0.09%	0.09%
	AMT	F	0.14%	0.14%	0.14%
	AMZN	B	1.99%	6.33%	1.99%
	ANET	C	0.08%	0.35%	0.08%
	ANF	C	0.01%	0.02%	0.01%
	ANSS	B	0.03%	0.05%	0.03%
	AON	B	0.07%	0.14%	0.07%
	AOS	F	0.02%	0.02%	0.02%
	APA	F	0.04%	0.03%	0.03%
	APH	B	0.06%	0.16%	0.06%
	ARWR	C	0.0%	0.01%	0.0%
	ATR	B	0.01%	0.02%	0.01%
	AVGO	B	0.46%	2.69%	0.46%
	AXON	B	0.01%	0.1%	0.01%
	AXP	B	0.35%	0.37%	0.35%
	AXTA	A	0.02%	0.03%	0.02%
	AYI	A	0.01%	0.02%	0.01%
	AZO	D	0.06%	0.12%	0.06%
	AZTA	F	0.0%	0.0%	0.0%
	BA	F	0.15%	0.17%	0.15%
	BC	C	0.02%	0.01%	0.01%
	BCO	D	0.01%	0.02%	0.01%
	BKNG	B	0.11%	0.55%	0.11%
	BLD	F	0.01%	0.04%	0.01%
	BLDR	D	0.05%	0.07%	0.05%
	BLKB	C	0.0%	0.01%	0.0%
	BR	A	0.02%	0.05%	0.02%
	BRBR	A	0.01%	0.02%	0.01%
	BRKR	F	0.01%	0.01%	0.01%
	BRO	B	0.04%	0.07%	0.04%
	BRX	A	0.03%	0.01%	0.01%
	BSX	A	0.11%	0.23%	0.11%
	BURL	C	0.03%	0.03%	0.03%
	BWXT	B	0.01%	0.04%	0.01%
	BX	A	0.13%	0.3%	0.13%
	BYD	A	0.02%	0.02%	0.02%
	CACI	B	0.04%	0.02%	0.02%
	CAR	D	0.02%	0.01%	0.01%
	CARR	D	0.08%	0.1%	0.08%
	CASY	B	0.03%	0.05%	0.03%
	CAT	B	0.24%	0.37%	0.24%
	CBOE	D	0.03%	0.05%	0.03%
	CBSH	A	0.02%	0.01%	0.01%
	CBT	B	0.02%	0.01%	0.01%
	CCK	C	0.04%	0.02%	0.02%
	CCL	B	0.19%	0.05%	0.05%
	CDNS	B	0.03%	0.27%	0.03%
	CDP	C	0.01%	0.0%	0.0%
	CDW	F	0.03%	0.04%	0.03%
	CE	F	0.04%	0.05%	0.04%
	CEG	D	0.05%	0.12%	0.05%
	CELH	F	0.0%	0.02%	0.0%
	CF	B	0.06%	0.03%	0.03%
	CFR	B	0.03%	0.01%	0.01%
	CG	B	0.02%	0.02%	0.02%
	CGNX	C	0.01%	0.01%	0.01%
	CHD	C	0.03%	0.04%	0.03%
	CHDN	B	0.01%	0.03%	0.01%
	CHE	F	0.01%	0.02%	0.01%
	CHH	B	0.01%	0.0%	0.0%
	CHRD	F	0.07%	0.03%	0.03%
	CHTR	B	0.29%	0.06%	0.06%
	CHX	D	0.01%	0.01%	0.01%
	CIEN	A	0.02%	0.01%	0.01%
	CIVI	D	0.04%	0.01%	0.01%
	CL	F	0.1%	0.1%	0.1%
	CLH	B	0.02%	0.04%	0.02%
	CME	B	0.11%	0.1%	0.1%
	CMG	C	0.04%	0.28%	0.04%
	CNM	D	0.01%	0.02%	0.01%
	CNX	B	0.05%	0.02%	0.02%
	COKE	D	0.03%	0.02%	0.02%
	COLM	C	0.01%	0.0%	0.0%
	COP	C	0.39%	0.3%	0.3%
	COST	B	0.28%	0.56%	0.28%
	COTY	F	0.01%	0.01%	0.01%
	CPAY	B	0.04%	0.08%	0.04%
	CPRI	F	0.01%	0.0%	0.0%
	CPRT	B	0.03%	0.15%	0.03%
	CR	A	0.03%	0.03%	0.03%
	CRM	A	0.26%	0.98%	0.26%
	CROX	F	0.01%	0.02%	0.01%
	CRUS	F	0.01%	0.01%	0.01%
	CSGP	D	0.02%	0.04%	0.02%
	CSL	C	0.03%	0.07%	0.03%
	CSX	B	0.1%	0.11%	0.1%
	CTAS	A	0.04%	0.13%	0.04%
	CTRA	C	0.06%	0.04%	0.04%
	CUBE	D	0.02%	0.02%	0.02%
	CVLT	A	0.01%	0.01%	0.01%
	CW	A	0.02%	0.03%	0.02%
	CYTK	D	0.0%	0.01%	0.0%
	CZR	D	0.03%	0.02%	0.02%
	DAL	B	0.33%	0.07%	0.07%
	DAY	A	0.01%	0.02%	0.01%
	DBX	C	0.01%	0.02%	0.01%
	DCI	A	0.01%	0.02%	0.01%
	DE	C	0.23%	0.2%	0.2%
	DECK	B	0.02%	0.08%	0.02%
	DFS	B	0.15%	0.07%	0.07%
	DHI	D	0.11%	0.17%	0.11%
	DKS	D	0.03%	0.02%	0.02%
	DLB	C	0.01%	0.01%	0.01%
	DLR	B	0.04%	0.08%	0.04%
	DOCS	B	0.01%	0.01%	0.01%
	DPZ	C	0.01%	0.02%	0.01%
	DRI	B	0.04%	0.03%	0.03%
	DT	C	0.01%	0.06%	0.01%
	DTM	A	0.03%	0.02%	0.02%
	DVA	D	0.06%	0.01%	0.01%
	DXCM	D	0.01%	0.06%	0.01%
	EA	B	0.05%	0.05%	0.05%
	ECL	D	0.05%	0.11%	0.05%
	EEFT	C	0.01%	0.01%	0.01%
	EFX	D	0.02%	0.04%	0.02%
	EGP	D	0.01%	0.02%	0.01%
	EHC	B	0.02%	0.02%	0.02%
	ELF	D	0.0%	0.02%	0.0%
	ELS	C	0.02%	0.03%	0.02%
	EME	B	0.03%	0.07%	0.03%
	ENPH	F	0.01%	0.01%	0.01%
	ENS	F	0.01%	0.01%	0.01%
	ENSG	C	0.01%	0.03%	0.01%
	EOG	B	0.22%	0.15%	0.15%
	EPAM	C	0.01%	0.02%	0.01%
	EPR	D	0.01%	0.01%	0.01%
	EQH	B	0.07%	0.01%	0.01%
	EQIX	B	0.08%	0.14%	0.08%
	ERIE	D	0.02%	0.02%	0.02%
	ESAB	B	0.01%	0.02%	0.01%
	ETN	A	0.12%	0.28%	0.12%
	EVR	B	0.02%	0.02%	0.02%
	EW	F	0.04%	0.05%	0.04%
	EWBC	B	0.05%	0.02%	0.02%
	EXEL	B	0.01%	0.03%	0.01%
	EXLS	A	0.01%	0.01%	0.01%
	EXP	B	0.01%	0.03%	0.01%
	EXPD	D	0.04%	0.02%	0.02%
	EXPE	B	0.04%	0.07%	0.04%
	EXPO	D	0.0%	0.01%	0.0%
	FANG	D	0.11%	0.11%	0.11%
	FAST	B	0.04%	0.08%	0.04%
	FBIN	D	0.02%	0.01%	0.01%
	FCN	F	0.01%	0.02%	0.01%
	FCX	C	0.09%	0.11%	0.09%
	FDS	B	0.01%	0.03%	0.01%
	FFIN	B	0.01%	0.01%	0.01%
	FI	B	0.15%	0.21%	0.15%
	FICO	B	0.01%	0.17%	0.01%
	FIVE	F	0.0%	0.02%	0.0%
	FIX	A	0.01%	0.05%	0.01%
	FLS	A	0.02%	0.01%	0.01%
	FN	B	0.01%	0.03%	0.01%
	FND	F	0.01%	0.04%	0.01%
	FR	D	0.02%	0.01%	0.01%
	FTNT	A	0.04%	0.17%	0.04%
	FTV	F	0.03%	0.09%	0.03%
	GATX	B	0.01%	0.01%	0.01%
	GDDY	A	0.03%	0.08%	0.03%
	GE	C	0.27%	0.27%	0.27%
	GGG	C	0.01%	0.05%	0.01%
	GLPI	D	0.04%	0.02%	0.02%
	GNRC	A	0.02%	0.02%	0.02%
	GNTX	D	0.01%	0.02%	0.01%
	GOOG	B	1.2%	2.84%	1.2%
	GOOGL	B	0.75%	3.44%	0.75%
	GRMN	B	0.07%	0.06%	0.06%
	GTLS	B	0.01%	0.02%	0.01%
	GWW	A	0.05%	0.13%	0.05%
	GXO	C	0.02%	0.02%	0.02%
	H	C	0.02%	0.02%	0.02%
	HAE	B	0.0%	0.01%	0.0%
	HALO	C	0.01%	0.03%	0.01%
	HCA	D	0.19%	0.11%	0.11%
	HD	B	0.51%	0.49%	0.49%
	HES	C	0.06%	0.13%	0.06%
	HGV	C	0.01%	0.0%	0.0%
	HLI	B	0.01%	0.03%	0.01%
	HLT	A	0.02%	0.2%	0.02%
	HQY	A	0.01%	0.01%	0.01%
	HRB	D	0.03%	0.03%	0.03%
	HST	C	0.04%	0.02%	0.02%
	HSY	F	0.06%	0.03%	0.03%
	HUBB	B	0.03%	0.04%	0.03%
	HWC	B	0.03%	0.01%	0.01%
	HWM	B	0.04%	0.08%	0.04%
	HXL	D	0.01%	0.01%	0.01%
	IBKR	B	0.05%	0.03%	0.03%
	IBOC	B	0.02%	0.0%	0.0%
	IDA	A	0.02%	0.01%	0.01%
	IDXX	F	0.02%	0.07%	0.02%
	INGR	B	0.03%	0.01%	0.01%
	INTU	A	0.06%	0.6%	0.06%
	IPGP	C	0.01%	0.0%	0.0%
	IQV	F	0.05%	0.05%	0.05%
	IR	B	0.02%	0.1%	0.02%
	IRDM	C	0.0%	0.01%	0.0%
	IRM	C	0.05%	0.06%	0.05%
	ISRG	A	0.1%	0.41%	0.1%
	IT	B	0.03%	0.13%	0.03%
	ITT	A	0.01%	0.04%	0.01%
	ITW	B	0.09%	0.11%	0.09%
	JAZZ	B	0.02%	0.01%	0.01%
	JBL	C	0.05%	0.03%	0.03%
	KBH	C	0.02%	0.01%	0.01%
	KBR	A	0.02%	0.01%	0.01%
	KEX	C	0.02%	0.01%	0.01%
	KLAC	F	0.05%	0.31%	0.05%
	KNF	B	0.01%	0.01%	0.01%
	KNSL	D	0.0%	0.03%	0.0%
	KO	D	0.4%	0.34%	0.34%
	LAMR	C	0.03%	0.02%	0.02%
	LANC	B	0.01%	0.01%	0.01%
	LECO	C	0.01%	0.04%	0.01%
	LEN	D	0.13%	0.08%	0.08%
	LFUS	C	0.01%	0.02%	0.01%
	LII	A	0.02%	0.07%	0.02%
	LIN	D	0.2%	0.39%	0.2%
	LIVN	C	0.0%	0.0%	0.0%
	LLY	D	0.22%	2.21%	0.22%
	LNTH	D	0.01%	0.03%	0.01%
	LNW	C	0.02%	0.03%	0.02%
	LOPE	A	0.01%	0.01%	0.01%
	LPX	B	0.01%	0.01%	0.01%
	LRCX	D	0.08%	0.33%	0.08%
	LSCC	C	0.0%	0.02%	0.0%
	LSTR	C	0.01%	0.01%	0.01%
	LULU	D	0.03%	0.13%	0.03%
	LVS	C	0.07%	0.04%	0.04%
	LW	C	0.01%	0.02%	0.01%
	LYV	B	0.04%	0.06%	0.04%
	MA	A	0.14%	1.03%	0.14%
	MANH	C	0.0%	0.06%	0.0%
	MAR	A	0.09%	0.21%	0.09%
	MAS	D	0.03%	0.03%	0.03%
	MASI	B	0.01%	0.01%	0.01%
	MAT	C	0.01%	0.01%	0.01%
	MCD	D	0.15%	0.32%	0.15%
	MCHP	F	0.05%	0.08%	0.05%
	MCO	C	0.04%	0.12%	0.04%
	MDLZ	F	0.2%	0.13%	0.13%
	MEDP	D	0.01%	0.03%	0.01%
	META	B	1.84%	4.25%	1.84%
	MGM	F	0.05%	0.02%	0.02%
	MIDD	C	0.02%	0.01%	0.01%
	MKSI	D	0.01%	0.01%	0.01%
	MLM	B	0.03%	0.08%	0.03%
	MMC	C	0.12%	0.19%	0.12%
	MMS	C	0.02%	0.01%	0.01%
	MNST	B	0.05%	0.08%	0.05%
	MOH	F	0.04%	0.04%	0.04%
	MORN	A	0.01%	0.03%	0.01%
	MPC	F	0.43%	0.09%	0.09%
	MPWR	F	0.01%	0.13%	0.01%
	MRK	F	0.33%	0.35%	0.33%
	MRO	B	0.08%	0.03%	0.03%
	MSA	D	0.0%	0.02%	0.0%
	MSCI	B	0.01%	0.09%	0.01%
	MSFT	C	1.51%	10.45%	1.51%
	MSI	A	0.04%	0.15%	0.04%
	MSM	C	0.02%	0.01%	0.01%
	MTD	F	0.02%	0.04%	0.02%
	MTDR	C	0.02%	0.02%	0.02%
	MTG	D	0.03%	0.01%	0.01%
	MTN	D	0.01%	0.01%	0.01%
	MTSI	B	0.01%	0.01%	0.01%
	MUR	F	0.04%	0.01%	0.01%
	MUSA	C	0.03%	0.03%	0.03%
	NBIX	C	0.01%	0.04%	0.01%
	NCLH	B	0.03%	0.04%	0.03%
	NEU	D	0.01%	0.01%	0.01%
	NFLX	A	0.18%	1.11%	0.18%
	NKE	F	0.12%	0.14%	0.12%
	NNN	D	0.03%	0.01%	0.01%
	NOVT	B	0.01%	0.01%	0.01%
	NOW	B	0.06%	0.67%	0.06%
	NSA	D	0.01%	0.0%	0.0%
	NSP	F	0.01%	0.0%	0.0%
	NTAP	C	0.04%	0.03%	0.03%
	NUE	C	0.11%	0.07%	0.07%
	NVDA	B	0.36%	11.41%	0.36%
	NVR	D	0.06%	0.1%	0.06%
	NVT	B	0.02%	0.04%	0.02%
	NXPI	D	0.08%	0.16%	0.08%
	NYT	B	0.01%	0.03%	0.01%
	OC	B	0.05%	0.05%	0.05%
	ODFL	B	0.03%	0.13%	0.03%
	OHI	B	0.04%	0.01%	0.01%
	OKE	A	0.12%	0.12%	0.12%
	OLED	F	0.01%	0.03%	0.01%
	OLLI	C	0.01%	0.02%	0.01%
	OLN	F	0.02%	0.01%	0.01%
	ON	D	0.05%	0.05%	0.05%
	ONTO	F	0.01%	0.03%	0.01%
	OPCH	F	0.01%	0.01%	0.01%
	ORCL	A	0.43%	0.93%	0.43%
	ORLY	B	0.07%	0.17%	0.07%
	OTIS	B	0.04%	0.05%	0.04%
	OVV	D	0.09%	0.04%	0.04%
	OZK	B	0.04%	0.01%	0.01%
	PANW	A	0.07%	0.4%	0.07%
	PAYC	B	0.01%	0.02%	0.01%
	PAYX	A	0.06%	0.06%	0.06%
	PCAR	B	0.12%	0.14%	0.12%
	PCTY	B	0.01%	0.03%	0.01%
	PEN	C	0.0%	0.03%	0.0%
	PEP	F	0.36%	0.28%	0.28%
	PG	D	0.49%	0.52%	0.49%
	PGR	B	0.18%	0.24%	0.18%
	PH	B	0.09%	0.22%	0.09%
	PHM	D	0.06%	0.09%	0.06%
	PK	C	0.03%	0.01%	0.01%
	PLNT	B	0.0%	0.02%	0.0%
	PM	C	0.59%	0.26%	0.26%
	PNFP	B	0.03%	0.01%	0.01%
	PNR	B	0.02%	0.04%	0.02%
	PODD	B	0.01%	0.02%	0.01%
	POOL	B	0.01%	0.03%	0.01%
	POWI	C	0.0%	0.01%	0.0%
	PR	C	0.03%	0.03%	0.03%
	PRI	A	0.02%	0.03%	0.02%
	PSA	D	0.07%	0.07%	0.07%
	PSTG	C	0.01%	0.05%	0.01%
	PTC	B	0.02%	0.05%	0.02%
	PWR	A	0.04%	0.11%	0.04%
	QCOM	C	0.23%	0.33%	0.23%
	QLYS	C	0.0%	0.02%	0.0%
	RBC	A	0.01%	0.03%	0.01%
	RCL	B	0.08%	0.16%	0.08%
	REGN	F	0.12%	0.18%	0.12%
	REXR	F	0.02%	0.01%	0.01%
	RGEN	F	0.01%	0.02%	0.01%
	RGLD	B	0.02%	0.02%	0.02%
	RH	B	0.01%	0.01%	0.01%
	RL	B	0.03%	0.02%	0.02%
	RLI	A	0.01%	0.01%	0.01%
	RMBS	C	0.0%	0.02%	0.0%
	RNR	B	0.05%	0.03%	0.03%
	ROIV	C	0.05%	0.01%	0.01%
	ROK	B	0.04%	0.05%	0.04%
	ROL	C	0.01%	0.02%	0.01%
	ROP	B	0.05%	0.09%	0.05%
	ROST	D	0.06%	0.16%	0.06%
	RPM	B	0.02%	0.03%	0.02%
	RRC	C	0.03%	0.02%	0.02%
	RS	B	0.05%	0.05%	0.05%
	RSG	B	0.09%	0.08%	0.08%
	RYN	D	0.01%	0.01%	0.01%
	SAIA	C	0.01%	0.04%	0.01%
	SAIC	B	0.02%	0.01%	0.01%
	SAM	C	0.0%	0.0%	0.0%
	SBAC	D	0.02%	0.03%	0.02%
	SBUX	B	0.14%	0.23%	0.14%
	SCI	A	0.02%	0.02%	0.02%
	SEIC	B	0.02%	0.01%	0.01%
	SFM	A	0.03%	0.02%	0.02%
	SHC	C	0.01%	0.01%	0.01%
	SHW	B	0.06%	0.14%	0.06%
	SIGI	B	0.02%	0.01%	0.01%
	SKX	F	0.03%	0.03%	0.03%
	SLAB	F	0.0%	0.01%	0.0%
	SLM	B	0.02%	0.01%	0.01%
	SMCI	F	0.01%	0.04%	0.01%
	SMG	D	0.01%	0.0%	0.0%
	SNA	A	0.04%	0.03%	0.03%
	SNPS	B	0.05%	0.27%	0.05%
	SPG	A	0.06%	0.07%	0.06%
	SPGI	D	0.12%	0.23%	0.12%
	SSD	C	0.01%	0.03%	0.01%
	STAG	D	0.01%	0.01%	0.01%
	STE	F	0.02%	0.04%	0.02%
	STLD	B	0.08%	0.04%	0.04%
	STX	D	0.05%	0.03%	0.03%
	SYK	A	0.09%	0.28%	0.09%
	SYNA	D	0.01%	0.0%	0.0%
	TDC	D	0.01%	0.01%	0.01%
	TDG	C	0.03%	0.25%	0.03%
	TEX	C	0.01%	0.01%	0.01%
	TJX	C	0.16%	0.28%	0.16%
	TKO	D	0.04%	0.01%	0.01%
	TKR	F	0.02%	0.01%	0.01%
	TMO	F	0.16%	0.28%	0.16%
	TNL	A	0.02%	0.01%	0.01%
	TOL	B	0.05%	0.05%	0.05%
	TPX	C	0.01%	0.03%	0.01%
	TREX	C	0.01%	0.03%	0.01%
	TRGP	A	0.08%	0.12%	0.08%
	TSCO	C	0.03%	0.04%	0.03%
	TSLA	B	0.51%	2.37%	0.51%
	TT	A	0.08%	0.2%	0.08%
	TTC	D	0.01%	0.01%	0.01%
	TTEK	C	0.02%	0.04%	0.02%
	TTWO	B	0.02%	0.05%	0.02%
	TXN	A	0.25%	0.24%	0.24%
	TXRH	B	0.02%	0.04%	0.02%
	TYL	B	0.02%	0.09%	0.02%
	UBER	F	0.09%	0.53%	0.09%
	UFPI	C	0.02%	0.03%	0.02%
	ULTA	C	0.03%	0.04%	0.03%
	UNH	B	1.12%	0.68%	0.68%
	UNP	D	0.22%	0.22%	0.22%
	URI	B	0.07%	0.18%	0.07%
	UTHR	B	0.04%	0.03%	0.03%
	V	B	0.43%	1.1%	0.43%
	VAL	F	0.01%	0.01%	0.01%
	VC	F	0.01%	0.0%	0.0%
	VMC	B	0.03%	0.08%	0.03%
	VNT	B	0.01%	0.02%	0.01%
	VOYA	B	0.04%	0.01%	0.01%
	VRSK	A	0.01%	0.07%	0.01%
	VRSN	D	0.02%	0.02%	0.02%
	VRTX	A	0.11%	0.27%	0.11%
	VST	B	0.1%	0.14%	0.1%
	VVV	B	0.02%	0.02%	0.02%
	WAT	B	0.02%	0.03%	0.02%
	WEN	C	0.01%	0.01%	0.01%
	WEX	F	0.01%	0.02%	0.01%
	WFRD	F	0.02%	0.02%	0.02%
	WH	A	0.01%	0.02%	0.01%
	WING	F	0.0%	0.03%	0.0%
	WLK	F	0.04%	0.01%	0.01%
	WM	B	0.1%	0.13%	0.1%
	WMB	B	0.18%	0.08%	0.08%
	WMS	D	0.01%	0.04%	0.01%
	WSM	F	0.02%	0.06%	0.02%
	WSO	B	0.04%	0.06%	0.04%
	WST	C	0.01%	0.08%	0.01%
	WTRG	B	0.03%	0.02%	0.02%
	WTS	C	0.01%	0.02%	0.01%
	WWD	B	0.02%	0.03%	0.02%
	WYNN	D	0.02%	0.03%	0.02%
	XPO	B	0.03%	0.02%	0.02%
	YETI	F	0.0%	0.01%	0.0%
	YUM	C	0.03%	0.06%	0.03%
	ZI	C	0.0%	0.0%	0.0%
	ZTS	F	0.05%	0.16%	0.05%

VLU Overweight 959 Positions Relative to IUSG

	Symbol	Grade	Weight
	BRK.A	C	2.41%
	XOM	B	2.0%
	WMT	A	1.8%
	VZ	D	1.53%
	BAC	B	1.46%
	JPM	B	1.44%
	T	B	1.39%
	CVX	B	1.28%
	WFC	B	1.13%
	C	B	1.08%
	JNJ	D	0.84%
	PFE	F	0.82%
	CVS	F	0.63%
	CMCSA	B	0.63%
	MS	B	0.57%
	COF	B	0.56%
	GS	B	0.53%
	TFC	B	0.51%
	GM	B	0.51%
	CSCO	A	0.5%
	RTX	C	0.47%
	PSX	F	0.45%
	MET	C	0.43%
	TMUS	A	0.42%
	KMI	A	0.42%
	IBM	D	0.42%
	PRU	C	0.4%
	USB	B	0.39%
	PNC	A	0.39%
	UPS	D	0.38%
	F	D	0.36%
	VLO	D	0.36%
	NEE	D	0.36%
	COR	B	0.35%
	GILD	B	0.35%
	LMT	D	0.34%
	CI	F	0.34%
	DUK	D	0.34%
	BMY	C	0.34%
	CB	D	0.34%
	KR	A	0.33%
	MCK	B	0.33%
	MO	B	0.33%
	MDT	C	0.33%
	ELV	F	0.31%
	SO	D	0.31%
	HPQ	B	0.31%
	INTC	C	0.3%
	CNC	F	0.29%
	BK	B	0.28%
	DIS	C	0.27%
	MMM	C	0.27%
	KHC	F	0.26%
	AMGN	C	0.26%
	ABT	B	0.25%
	D	C	0.25%
	AIG	C	0.25%
	SCHW	B	0.24%
	FDX	B	0.24%
	UAL	A	0.23%
	HPE	B	0.23%
	LOW	B	0.23%
	CAH	B	0.23%
	ADM	F	0.23%
	SW	B	0.22%
	TGT	F	0.22%
	GD	B	0.22%
	KVUE	A	0.22%
	HON	B	0.21%
	AFL	D	0.21%
	SYF	B	0.2%
	LYB	F	0.2%
	EXC	D	0.2%
	DD	D	0.18%
	TRV	B	0.18%
	MTB	B	0.17%
	AEP	D	0.17%
	CFG	B	0.17%
	SRE	A	0.17%
	OXY	F	0.17%
	PYPL	A	0.17%
	DOW	F	0.17%
	BBY	D	0.16%
	ALL	B	0.16%
	PFG	C	0.16%
	HUM	F	0.16%
	LUV	B	0.16%
	TSN	D	0.15%
	ETR	B	0.15%
	IP	B	0.15%
	JCI	A	0.15%
	APD	B	0.15%
	WBD	C	0.15%
	NOC	C	0.15%
	NEM	D	0.15%
	XEL	B	0.14%
	EMR	B	0.14%
	PLD	F	0.14%
	PEG	D	0.14%
	STT	B	0.14%
	MU	C	0.14%
	KEY	B	0.14%
	SLB	D	0.13%
	L	A	0.13%
	WELL	B	0.13%
	HIG	C	0.13%
	CMI	B	0.13%
	ED	D	0.13%
	DHR	F	0.12%
	EQT	B	0.12%
	SYY	C	0.12%
	O	D	0.12%
	ICE	D	0.12%
	NSC	B	0.12%
	PCG	B	0.12%
	RGA	B	0.12%
	DVN	F	0.12%
	VTRS	B	0.12%
	CTSH	B	0.11%
	GLW	B	0.11%
	BKR	B	0.11%
	BG	F	0.11%
	PFGC	B	0.11%
	GIS	F	0.11%
	RF	B	0.11%
	FIS	C	0.11%
	KDP	F	0.11%
	FITB	B	0.11%
	HBAN	B	0.11%
	VICI	D	0.1%
	WEC	B	0.1%
	UNM	B	0.1%
	DTE	D	0.1%
	LHX	A	0.1%
	KMB	D	0.1%
	EIX	D	0.1%
	CCI	D	0.1%
	ALLY	C	0.09%
	TAP	B	0.09%
	AEE	A	0.09%
	CBRE	A	0.09%
	EBAY	D	0.09%
	BDX	F	0.09%
	VTR	B	0.09%
	PPL	B	0.09%
	ES	D	0.09%
	CTVA	C	0.09%
	USFD	B	0.08%
	X	C	0.08%
	HRL	F	0.08%
	MOS	C	0.08%
	FNF	C	0.08%
	NTRS	B	0.08%
	AAL	C	0.08%
	SNX	B	0.08%
	EQR	D	0.08%
	LAD	B	0.08%
	K	A	0.08%
	AFG	B	0.08%
	EG	D	0.08%
	FOXA	B	0.08%
	BIIB	F	0.08%
	WY	D	0.07%
	ATO	A	0.07%
	BWA	D	0.07%
	NDAQ	B	0.07%
	ZION	B	0.07%
	FE	D	0.07%
	JXN	B	0.07%
	CINF	B	0.07%
	EVRG	B	0.07%
	IVZ	B	0.07%
	HAL	D	0.07%
	CAG	F	0.07%
	TROW	B	0.07%
	AVB	A	0.07%
	CMA	B	0.07%
	CNP	B	0.07%
	JEF	B	0.06%
	PARA	C	0.06%
	STWD	D	0.06%
	LH	A	0.06%
	AWK	D	0.06%
	R	A	0.06%
	GPN	C	0.06%
	IFF	F	0.06%
	WBA	F	0.06%
	BAX	F	0.06%
	CMS	D	0.06%
	DINO	F	0.06%
	VNO	A	0.06%
	RJF	B	0.06%
	NI	A	0.06%
	BXP	B	0.06%
	AMCR	D	0.06%
	THC	B	0.06%
	APTV	F	0.06%
	MHK	D	0.06%
	LUMN	B	0.06%
	PPG	F	0.06%
	ARW	F	0.06%
	VFC	B	0.06%
	WTW	B	0.06%
	CHRW	B	0.06%
	OMC	B	0.06%
	EXR	D	0.05%
	PKG	B	0.05%
	AVT	B	0.05%
	CPB	D	0.05%
	SJM	D	0.05%
	GPC	F	0.05%
	WDC	C	0.05%
	EMN	D	0.05%
	WPC	D	0.05%
	JHG	A	0.05%
	GEN	B	0.05%
	UHS	D	0.05%
	LEA	F	0.05%
	ZBH	C	0.05%
	STZ	F	0.05%
	FHN	B	0.05%
	JLL	C	0.05%
	DG	F	0.05%
	WHR	B	0.05%
	LNC	B	0.05%
	PNW	B	0.05%
	WRB	B	0.05%
	ARMK	B	0.05%
	COOP	A	0.05%
	DOC	B	0.05%
	ALK	B	0.05%
	ARE	D	0.05%
	COLB	B	0.05%
	NRG	B	0.05%
	DGX	B	0.05%
	LDOS	A	0.05%
	BEN	C	0.05%
	SWK	F	0.05%
	BKH	C	0.04%
	TPR	A	0.04%
	KIM	A	0.04%
	TXT	D	0.04%
	AN	D	0.04%
	CPT	C	0.04%
	J	C	0.04%
	M	C	0.04%
	DLTR	F	0.04%
	IPG	F	0.04%
	SNV	B	0.04%
	WBS	B	0.04%
	TMHC	A	0.04%
	REG	B	0.04%
	AA	B	0.04%
	VLY	B	0.04%
	AIZ	A	0.04%
	WCC	B	0.04%
	MAA	C	0.04%
	OGN	F	0.04%
	FYBR	C	0.04%
	AR	C	0.04%
	GAP	C	0.04%
	KRC	B	0.04%
	AL	B	0.04%
	INVH	D	0.04%
	BERY	C	0.04%
	SWKS	F	0.04%
	ABG	B	0.04%
	LNT	D	0.04%
	MKC	D	0.04%
	ESS	C	0.04%
	ALB	C	0.04%
	ORI	B	0.04%
	BALL	F	0.04%
	EL	F	0.04%
	GPI	B	0.04%
	WAB	A	0.04%
	UGI	D	0.04%
	KMX	F	0.04%
	AES	F	0.04%
	FOX	B	0.04%
	CLF	D	0.03%
	INCY	A	0.03%
	CEIX	B	0.03%
	AMG	C	0.03%
	TRN	B	0.03%
	RMD	B	0.03%
	WAFD	C	0.03%
	BKU	B	0.03%
	TDS	B	0.03%
	SFNC	B	0.03%
	BIO	B	0.03%
	PAG	C	0.03%
	SON	F	0.03%
	GNW	C	0.03%
	XYL	F	0.03%
	SATS	C	0.03%
	FNB	B	0.03%
	MPW	D	0.03%
	PENN	C	0.03%
	MAN	F	0.03%
	RDN	D	0.03%
	BHF	B	0.03%
	CUZ	B	0.03%
	PBF	F	0.03%
	GHC	A	0.03%
	GPK	C	0.03%
	KD	B	0.03%
	FSLR	F	0.03%
	HAS	D	0.03%
	POST	D	0.03%
	MTZ	A	0.03%
	BXMT	B	0.03%
	PB	B	0.03%
	CNK	B	0.03%
	JNPR	C	0.03%
	HII	F	0.03%
	BTU	B	0.03%
	HSIC	F	0.03%
	APLE	B	0.03%
	NFG	C	0.03%
	CWK	B	0.03%
	OGE	A	0.03%
	THO	C	0.03%
	FLR	C	0.03%
	GME	C	0.03%
	NXST	C	0.03%
	ILMN	B	0.03%
	HP	C	0.03%
	UDR	C	0.03%
	ABM	B	0.03%
	CATY	B	0.03%
	NWSA	B	0.03%
	MDU	F	0.03%
	CLX	B	0.03%
	HCC	A	0.03%
	GEHC	D	0.03%
	DEI	B	0.03%
	ONB	B	0.03%
	MLI	B	0.03%
	ASB	B	0.03%
	AGCO	D	0.03%
	CALM	B	0.03%
	FMC	D	0.03%
	LKQ	F	0.03%
	CMC	B	0.03%
	BJ	B	0.03%
	COHR	B	0.03%
	KNX	B	0.03%
	JBHT	B	0.03%
	NWL	B	0.03%
	TDY	A	0.03%
	NOG	B	0.03%
	WU	F	0.03%
	DXC	C	0.03%
	CNO	B	0.03%
	KEYS	A	0.03%
	FAF	D	0.03%
	SF	B	0.03%
	A	D	0.03%
	GL	C	0.03%
	HIW	B	0.03%
	DOV	B	0.03%
	SANM	B	0.03%
	OGS	C	0.03%
	CVBF	B	0.02%
	ASH	F	0.02%
	MGY	A	0.02%
	QRVO	F	0.02%
	IIPR	F	0.02%
	SLVM	A	0.02%
	MOG.A	B	0.02%
	FULT	B	0.02%
	TER	F	0.02%
	PDCO	D	0.02%
	KAR	B	0.02%
	PLXS	B	0.02%
	VYX	C	0.02%
	ATI	D	0.02%
	CXW	B	0.02%
	MAC	B	0.02%
	OI	D	0.02%
	ABCB	B	0.02%
	MTCH	F	0.02%
	NATL	C	0.02%
	VSTS	F	0.02%
	GEF	B	0.02%
	VLTO	D	0.02%
	FLO	F	0.02%
	ADNT	F	0.02%
	MHO	C	0.02%
	PRG	C	0.02%
	KRG	B	0.02%
	MCY	A	0.02%
	JBGS	D	0.02%
	NWE	D	0.02%
	BCC	B	0.02%
	NDSN	C	0.02%
	ST	F	0.02%
	CRC	B	0.02%
	TFX	F	0.02%
	POR	D	0.02%
	BHE	B	0.02%
	JBLU	C	0.02%
	RRX	B	0.02%
	AUB	B	0.02%
	FL	F	0.02%
	MATX	B	0.02%
	AGO	B	0.02%
	SR	D	0.02%
	EAT	B	0.02%
	PRGO	D	0.02%
	KSS	F	0.02%
	PPC	B	0.02%
	CNXC	F	0.02%
	RUSHA	B	0.02%
	TCBI	B	0.02%
	ALE	A	0.02%
	UMBF	B	0.02%
	AAP	F	0.02%
	PNM	B	0.02%
	BBWI	D	0.02%
	BANC	B	0.02%
	GEO	B	0.02%
	GBX	B	0.02%
	PVH	C	0.02%
	SWX	B	0.02%
	RNST	B	0.02%
	PII	F	0.02%
	SLG	B	0.02%
	BANF	B	0.02%
	GBCI	B	0.02%
	HOG	F	0.02%
	AVNT	B	0.02%
	VSCO	B	0.02%
	BANR	B	0.02%
	SEM	B	0.02%
	HOMB	B	0.02%
	FHB	B	0.02%
	TPH	D	0.02%
	URBN	D	0.02%
	TRMB	A	0.02%
	CWEN	D	0.02%
	SKYW	B	0.02%
	G	B	0.02%
	IBTX	B	0.02%
	MTH	D	0.02%
	ESNT	F	0.02%
	SIG	B	0.02%
	RHI	B	0.02%
	THG	A	0.02%
	CRS	B	0.02%
	ENVA	B	0.02%
	PFS	B	0.02%
	SLGN	B	0.02%
	ADC	B	0.02%
	NSIT	F	0.02%
	FFBC	B	0.02%
	AVY	F	0.02%
	JWN	C	0.02%
	GT	C	0.02%
	BFH	B	0.02%
	OSK	B	0.02%
	UBSI	B	0.02%
	SNEX	B	0.02%
	SBRA	B	0.02%
	RVTY	B	0.02%
	NOV	D	0.02%
	ARCH	B	0.02%
	MRNA	F	0.02%
	HBI	B	0.02%
	CADE	B	0.02%
	FFIV	B	0.02%
	ZBRA	B	0.02%
	DAR	C	0.02%
	SSB	B	0.02%
	TGNA	B	0.02%
	AMKR	F	0.02%
	WTFC	B	0.02%
	ABR	B	0.02%
	SM	C	0.02%
	HOLX	D	0.02%
	SCL	C	0.01%
	KREF	D	0.01%
	UNIT	B	0.01%
	QNST	C	0.01%
	CAL	F	0.01%
	VRTS	B	0.01%
	RES	F	0.01%
	AVNS	F	0.01%
	SAFT	C	0.01%
	MCRI	B	0.01%
	AEIS	B	0.01%
	POWL	B	0.01%
	MMI	B	0.01%
	BGS	F	0.01%
	AZZ	B	0.01%
	HPP	F	0.01%
	CHEF	B	0.01%
	GDOT	D	0.01%
	EZPW	B	0.01%
	AWR	B	0.01%
	MSGS	B	0.01%
	CHCO	B	0.01%
	HLX	D	0.01%
	DNOW	C	0.01%
	VIR	C	0.01%
	XHR	B	0.01%
	RDNT	A	0.01%
	GFF	C	0.01%
	SOLV	C	0.01%
	HAFC	B	0.01%
	HCSG	B	0.01%
	NBHC	B	0.01%
	AMWD	B	0.01%
	APOG	A	0.01%
	SCHL	F	0.01%
	AAT	B	0.01%
	ZD	C	0.01%
	NGVT	C	0.01%
	FIZZ	B	0.01%
	EFC	D	0.01%
	HWKN	C	0.01%
	FORM	F	0.01%
	FSS	C	0.01%
	STRA	D	0.01%
	SHAK	B	0.01%
	MODG	F	0.01%
	NVRI	F	0.01%
	MYRG	C	0.01%
	UCTT	D	0.01%
	CWT	D	0.01%
	SMPL	C	0.01%
	ESE	B	0.01%
	EPC	D	0.01%
	WRLD	C	0.01%
	INN	D	0.01%
	DRH	B	0.01%
	MP	B	0.01%
	PLAB	C	0.01%
	NHC	C	0.01%
	CPK	B	0.01%
	RCM	B	0.01%
	LGND	B	0.01%
	FWRD	D	0.01%
	ALGT	C	0.01%
	VRE	B	0.01%
	KWR	D	0.01%
	GTY	B	0.01%
	YELP	C	0.01%
	MMSI	A	0.01%
	BKE	B	0.01%
	SBCF	B	0.01%
	ELME	C	0.01%
	JBT	B	0.01%
	JJSF	B	0.01%
	EIG	B	0.01%
	CORT	B	0.01%
	OSIS	C	0.01%
	KN	B	0.01%
	ASIX	B	0.01%
	FELE	C	0.01%
	VSAT	F	0.01%
	SHO	B	0.01%
	ALKS	C	0.01%
	SKT	B	0.01%
	CPF	B	0.01%
	VTLE	D	0.01%
	AWI	A	0.01%
	SXC	A	0.01%
	HAIN	D	0.01%
	FCPT	D	0.01%
	MGEE	A	0.01%
	MC	B	0.01%
	KALU	C	0.01%
	ENR	B	0.01%
	CARG	B	0.01%
	CFFN	B	0.01%
	BOOT	D	0.01%
	CVCO	A	0.01%
	CASH	B	0.01%
	TBBK	C	0.01%
	HI	C	0.01%
	OII	B	0.01%
	SCVL	D	0.01%
	TMP	B	0.01%
	STC	C	0.01%
	MNRO	B	0.01%
	IOSP	B	0.01%
	CRI	F	0.01%
	PUMP	F	0.01%
	MATV	F	0.01%
	AXL	D	0.01%
	IBP	F	0.01%
	KLIC	C	0.01%
	ROIC	A	0.01%
	PLUS	C	0.01%
	LGIH	D	0.01%
	NBR	C	0.01%
	AMN	F	0.01%
	KELYA	F	0.01%
	PJT	B	0.01%
	BCPC	B	0.01%
	DORM	B	0.01%
	AHCO	F	0.01%
	LXP	D	0.01%
	ETSY	D	0.01%
	AROC	B	0.01%
	CWEN	D	0.01%
	ARCB	C	0.01%
	SPTN	F	0.01%
	EGBN	B	0.01%
	ENOV	C	0.01%
	DLX	B	0.01%
	OFG	C	0.01%
	XRX	F	0.01%
	PARR	F	0.01%
	WD	B	0.01%
	BLMN	F	0.01%
	PHIN	B	0.01%
	B	B	0.01%
	FTDR	A	0.01%
	CENTA	D	0.01%
	UE	A	0.01%
	LTC	B	0.01%
	EXPI	C	0.01%
	WGO	C	0.01%
	UNF	B	0.01%
	FCF	B	0.01%
	HASI	F	0.01%
	NPO	C	0.01%
	KMT	B	0.01%
	AVAV	B	0.01%
	SHOO	D	0.01%
	HMN	B	0.01%
	FBK	B	0.01%
	SXT	B	0.01%
	BRKL	B	0.01%
	DIOD	D	0.01%
	MTX	B	0.01%
	SFBS	B	0.01%
	LPG	F	0.01%
	RWT	D	0.01%
	IRT	B	0.01%
	UA	C	0.01%
	ORA	B	0.01%
	OTTR	D	0.01%
	CNXN	C	0.01%
	PINC	B	0.01%
	OMCL	B	0.01%
	ITGR	B	0.01%
	STBA	C	0.01%
	SBSI	B	0.01%
	DAN	F	0.01%
	PCH	F	0.01%
	OMI	F	0.01%
	INVA	B	0.01%
	DCOM	B	0.01%
	NWS	B	0.01%
	PIPR	B	0.01%
	LZB	C	0.01%
	CBRL	D	0.01%
	SAH	B	0.01%
	BDN	C	0.01%
	SCSC	C	0.01%
	CCS	D	0.01%
	AKR	B	0.01%
	KLG	C	0.01%
	BRC	B	0.01%
	APAM	B	0.01%
	VSTO	B	0.01%
	PECO	B	0.01%
	ODP	F	0.01%
	THS	F	0.01%
	WSFS	B	0.01%
	NMIH	D	0.01%
	IDCC	A	0.01%
	XRAY	F	0.01%
	TTMI	A	0.01%
	NBTB	B	0.01%
	GVA	A	0.01%
	PRK	B	0.01%
	PBH	B	0.01%
	BHLB	B	0.01%
	ITRI	A	0.01%
	FUL	D	0.01%
	PATK	D	0.01%
	RXO	B	0.01%
	MD	B	0.01%
	BGC	A	0.01%
	KFY	B	0.01%
	RC	F	0.01%
	CRK	B	0.01%
	WWW	A	0.01%
	FDP	B	0.01%
	BOH	B	0.01%
	CAKE	B	0.01%
	ECPG	B	0.01%
	LCII	D	0.01%
	WS	A	0.01%
	OUT	C	0.01%
	GMS	B	0.01%
	UNFI	B	0.01%
	KW	B	0.01%
	LRN	B	0.01%
	CTRE	C	0.01%
	WOR	D	0.01%
	AEO	F	0.01%
	UPBD	C	0.01%
	PSMT	C	0.01%
	PBI	C	0.01%
	WERN	B	0.01%
	RUN	F	0.01%
	ACIW	B	0.01%
	CRL	D	0.01%
	BDC	B	0.01%
	HNI	B	0.01%
	SBH	C	0.01%
	ARI	D	0.01%
	AMR	C	0.01%
	GIII	C	0.01%
	MKTX	C	0.01%
	GRBK	D	0.01%
	VSH	F	0.01%
	FHI	B	0.01%
	DEA	D	0.01%
	CBU	B	0.01%
	FBP	C	0.01%
	NVST	C	0.01%
	PMT	D	0.01%
	TRMK	B	0.01%
	EPRT	C	0.01%
	SRCL	A	0.01%
	UCB	B	0.01%
	PTEN	D	0.01%
	NAVI	F	0.01%
	TALO	C	0.01%
	NWN	B	0.01%
	ACA	B	0.01%
	LBRT	F	0.01%
	CCOI	B	0.01%
	UVV	C	0.01%
	LITE	B	0.01%
	AX	B	0.01%
	DY	C	0.01%
	VAC	B	0.01%
	ASGN	B	0.01%
	KTB	A	0.01%
	SABR	C	0.01%
	CABO	C	0.01%
	HTH	C	0.01%
	CC	C	0.01%
	ICUI	C	0.01%
	CTLT	D	0.01%
	INDB	B	0.01%
	IEX	B	0.01%
	HUBG	B	0.01%
	PEB	D	0.01%
	WKC	D	0.01%
	SPNT	C	0.01%
	PPBI	B	0.01%
	JKHY	C	0.01%
	LEG	F	0.01%
	ANDE	D	0.01%
	ATGE	B	0.01%
	HOPE	B	0.01%
	VBTX	B	0.01%
	UAA	C	0.01%
	GMED	B	0.01%
	ASO	F	0.01%
	NJR	C	0.01%
	MLKN	F	0.01%
	AVA	D	0.01%
	KMPR	A	0.01%
	VMI	B	0.01%
	GNL	D	0.01%
	FRT	C	0.01%
	SEE	C	0.01%
	NWBI	B	0.01%
	REZI	A	0.01%
	AORT	B	0.0%
	VICR	B	0.0%
	NPK	B	0.0%
	XPEL	C	0.0%
	NARI	C	0.0%
	LESL	D	0.0%
	AGYS	C	0.0%
	VCEL	B	0.0%
	GOGO	C	0.0%
	MSEX	B	0.0%
	WOLF	F	0.0%
	PGNY	F	0.0%
	EMBC	C	0.0%
	RGNX	D	0.0%
	PCRX	D	0.0%
	CLB	C	0.0%
	STAA	F	0.0%
	CERT	D	0.0%
	TNDM	F	0.0%
	SNCY	C	0.0%
	COHU	C	0.0%
	LQDT	A	0.0%
	TTGT	C	0.0%
	TGI	B	0.0%
	CRSR	F	0.0%
	BMI	C	0.0%
	NABL	F	0.0%
	HCI	B	0.0%
	CEVA	B	0.0%
	ICHR	C	0.0%
	MYE	F	0.0%
	SSTK	D	0.0%
	SITM	B	0.0%
	JBSS	F	0.0%
	NXRT	C	0.0%
	CARS	C	0.0%
	IIIN	F	0.0%
	BJRI	C	0.0%
	MXL	C	0.0%
	WT	B	0.0%
	DV	D	0.0%
	PRLB	B	0.0%
	GKOS	B	0.0%
	DGII	B	0.0%
	PAYO	A	0.0%
	SEDG	F	0.0%
	ASTE	C	0.0%
	AHH	D	0.0%
	EPAC	B	0.0%
	IRWD	D	0.0%
	GPRE	F	0.0%
	SHEN	F	0.0%
	CENT	D	0.0%
	CTS	B	0.0%
	THRY	F	0.0%
	WSR	B	0.0%
	USNA	C	0.0%
	COLL	F	0.0%
	MGPI	F	0.0%
	PRVA	C	0.0%
	VVI	B	0.0%
	CPRX	B	0.0%
	XNCR	B	0.0%
	SXI	B	0.0%
	HRMY	D	0.0%
	THRM	F	0.0%
	SPSC	F	0.0%
	RGR	F	0.0%
	TRUP	C	0.0%
	HSII	A	0.0%
	VECO	F	0.0%
	LNN	B	0.0%
	TNC	F	0.0%
	PZZA	C	0.0%
	MTUS	C	0.0%
	JACK	D	0.0%
	KOP	D	0.0%
	HTLD	C	0.0%
	ALG	C	0.0%
	SONO	C	0.0%
	UFPT	C	0.0%
	GDEN	C	0.0%
	WNC	D	0.0%
	ALRM	C	0.0%
	CNMD	C	0.0%
	SJW	D	0.0%
	EXTR	B	0.0%
	MCW	B	0.0%
	WDFC	B	0.0%
	CSGS	B	0.0%
	EYE	D	0.0%
	MATW	C	0.0%
	OXM	F	0.0%
	DXPE	B	0.0%
	FTRE	D	0.0%
	USPH	C	0.0%
	BSIG	B	0.0%
	TILE	A	0.0%
	WABC	B	0.0%
	RAMP	C	0.0%
	DFIN	F	0.0%
	REX	C	0.0%
	AMPH	D	0.0%
	VIAV	B	0.0%
	UHT	D	0.0%
	RCUS	C	0.0%
	HLIT	F	0.0%
	JOE	F	0.0%
	CLW	F	0.0%
	AMSF	A	0.0%
	MRTN	C	0.0%
	PLMR	C	0.0%
	FLGT	F	0.0%
	NX	C	0.0%
	NEO	C	0.0%
	SMP	C	0.0%
	CXT	D	0.0%
	NVEE	D	0.0%
	AIR	C	0.0%
	CALX	F	0.0%
	HTZ	D	0.0%
	CRVL	B	0.0%
	PRAA	C	0.0%
	EVTC	C	0.0%
	HZO	C	0.0%
	HAYN	A	0.0%
	ACLS	F	0.0%
	ETD	F	0.0%
	BOX	B	0.0%
	LKFN	B	0.0%
	DVAX	C	0.0%
	CNSL	B	0.0%
	GO	D	0.0%
	AOSL	F	0.0%
	VTOL	C	0.0%
	NEOG	C	0.0%
	IART	C	0.0%
	NTCT	B	0.0%
	ENV	C	0.0%
	PRGS	B	0.0%
	ROG	C	0.0%
	FBRT	B	0.0%
	TR	C	0.0%
	AMBC	C	0.0%
	MTRN	C	0.0%
	TWI	F	0.0%
	FOXF	F	0.0%
	ASTH	D	0.0%
	GES	F	0.0%
	UTL	C	0.0%
	MYGN	F	0.0%
	UFCS	B	0.0%
	HAYW	C	0.0%
	VRRM	F	0.0%
	CENX	B	0.0%
	HFWA	B	0.0%
	PRA	B	0.0%
	ADUS	D	0.0%
	AIN	D	0.0%
	CSR	B	0.0%
	SMTC	A	0.0%
	PAHC	B	0.0%
	ROCK	C	0.0%
	IPAR	C	0.0%
	TRST	B	0.0%
	PLAY	C	0.0%
	PRDO	B	0.0%
	SUPN	B	0.0%
	CVI	F	0.0%
	TECH	B	0.0%
	BFS	B	0.0%
	HELE	D	0.0%
	TFIN	B	0.0%
	TRIP	D	0.0%
	SVC	F	0.0%
	FBNC	B	0.0%
	ALEX	B	0.0%
	MRCY	B	0.0%
	CUBI	C	0.0%
	PFBC	B	0.0%

VLU Underweight 24 Positions Relative to IUSG

	Symbol	Grade	Weight
	KKR	B	-0.32%
	PLTR	A	-0.29%
	CRWD	C	-0.24%
	GEV	A	-0.12%
	DELL	C	-0.07%
	TEL	B	-0.06%
	TPL	B	-0.05%
	DUOL	B	-0.04%
	HLNE	B	-0.03%
	COO	D	-0.03%
	SRPT	F	-0.03%
	WAL	B	-0.02%
	APPF	D	-0.02%
	NXT	C	-0.02%
	ALTR	C	-0.02%
	AVTR	F	-0.02%
	RYAN	B	-0.02%
	BMRN	F	-0.02%
	AZPN	B	-0.01%
	VNOM	B	-0.01%
	ALTM	C	-0.01%
	WMG	B	-0.01%
	PSN	B	-0.01%
	FCFS	F	-0.01%

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

IUSG: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Business Services Semiconductors Oil & Gas E&P Biotechnology Building Materials Diagnostics & Research Specialty Chemicals Specialty Retail Restaurants Banks - Regional - US Leisure Semiconductor Equipment & Materials Asset Management Capital Markets Medical Care Medical Devices REIT - Industrial Resorts & Casinos

Keywords: S&P 500 Nasdaq 100 Computing Electronics Natural Gas Chemical Mining Semiconductor Aerospace Insurance Construction IBD 50 Integrated Circuits Medicine Building Materials Real Estate Investment Trust Telecommunications Banking Transport Dow Jones Component