VLU vs. PABU ETF Comparison

Comparison of SPDR S&P 1500 Value Tilt ETF (VLU) to iShares Paris-Aligned Climate MSCI USA ETF (PABU)

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

$182.89

Average Daily Volume

10,296

Number of Holdings ^*

1425

* may have additional holdings in another (foreign) market

PABU

iShares Paris-Aligned Climate MSCI USA ETF

PABU Description

iShares Trust - iShares Paris-Aligned Climate MSCI USA ETF is an exchange traded fund launched by BlackRock, Inc. The fund is managed by BlackRock Fund Advisors. It invests in public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors. It invests in growth and value stocks of companies across diversified market capitalization. The fund invests in stocks of companies that are deemed socially conscious in their business dealings and directly promote environmental responsibility. It seeks to track the performance of the MSCI USA Climate Paris Aligned Benchmark Extended Select Index, by using representative sampling technique. It does not invest in stocks of companies operating across tobacco, controversial or nuclear weapons, producers and retailers of civilian firearms, thermal coal mining or sales, a wide range of oil- and gas-related activities, certain types of power generation and the extraction of oil sands sectors. iShares Trust - iShares Paris-Aligned Climate MSCI USA ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$62.66

Average Daily Volume

35,417

Number of Holdings ^*

236

* may have additional holdings in another (foreign) market

Performance

Period	VLU	PABU
30 Days	0.71%	1.26%
60 Days	5.90%	7.10%
90 Days	6.44%	4.24%
12 Months	31.71%	37.20%

209 Overlapping Holdings

Symbol	Grade	Weight in VLU	Weight in PABU	Overlap
AAPL	C	2.48%	7.04%	2.48%
ABBV	A	0.46%	0.69%	0.46%
ABNB	D	0.06%	0.16%	0.06%
ACGL	A	0.14%	0.31%	0.14%
ACM	C	0.03%	0.52%	0.03%
ACN	B	0.32%	0.4%	0.32%
ADBE	F	0.17%	0.56%	0.17%
ADI	C	0.14%	0.7%	0.14%
ADP	A	0.08%	0.28%	0.08%
ADSK	B	0.03%	0.18%	0.03%
AFG	C	0.09%	0.2%	0.09%
AFL	A	0.22%	0.6%	0.22%
AJG	D	0.06%	0.12%	0.06%
ALGN	D	0.02%	0.03%	0.02%
ALL	B	0.16%	0.16%	0.16%
ALLE	A	0.02%	0.08%	0.02%
AMD	D	0.14%	0.69%	0.14%
AME	D	0.03%	0.37%	0.03%
AMGN	D	0.27%	0.25%	0.25%
AMP	A	0.11%	0.04%	0.04%
AMT	C	0.15%	0.27%	0.15%
AMZN	C	1.92%	3.48%	1.92%
ANET	A	0.07%	0.17%	0.07%
ANSS	D	0.02%	0.05%	0.02%
AON	A	0.07%	0.07%	0.07%
APH	D	0.06%	0.15%	0.06%
ARE	D	0.05%	0.56%	0.05%
AVB	C	0.07%	0.5%	0.07%
AVGO	C	0.44%	1.87%	0.44%
AWK	B	0.06%	0.87%	0.06%
AXON	A	0.01%	0.33%	0.01%
AXP	A	0.34%	0.4%	0.34%
BDX	B	0.09%	0.11%	0.09%
BIIB	F	0.09%	0.07%	0.07%
BIO	B	0.03%	0.04%	0.03%
BK	C	0.27%	0.22%	0.22%
BKNG	C	0.1%	0.03%	0.03%
BLK	A	0.2%	0.49%	0.2%
BMY	B	0.34%	0.35%	0.34%
BRK.A	C	2.43%	0.55%	0.55%
BRO	A	0.04%	0.21%	0.04%
BSX	A	0.11%	0.31%	0.11%
BXP	C	0.06%	0.47%	0.06%
CB	A	0.35%	0.41%	0.35%
CBOE	A	0.03%	0.11%	0.03%
CCI	C	0.12%	0.04%	0.04%
CDW	D	0.04%	0.23%	0.04%
CHD	C	0.03%	0.14%	0.03%
CHTR	D	0.29%	0.11%	0.11%
CINF	A	0.07%	0.13%	0.07%
CMCSA	B	0.62%	0.23%	0.23%
CME	A	0.11%	0.31%	0.11%
CMG	C	0.04%	0.13%	0.04%
CPAY	A	0.04%	0.09%	0.04%
CPRT	B	0.03%	0.14%	0.03%
CRM	B	0.24%	0.69%	0.24%
CSCO	A	0.48%	0.74%	0.48%
CSGP	F	0.03%	0.14%	0.03%
CTAS	B	0.04%	0.32%	0.04%
CTLT	A	0.01%	0.04%	0.01%
DFS	C	0.13%	0.1%	0.1%
DGX	B	0.05%	0.02%	0.02%
DHR	C	0.13%	0.4%	0.13%
DIS	D	0.27%	0.35%	0.27%
DLR	C	0.04%	1.52%	0.04%
DOC	C	0.05%	0.33%	0.05%
DXCM	F	0.01%	0.06%	0.01%
EBAY	A	0.09%	0.18%	0.09%
EFX	C	0.02%	0.11%	0.02%
EIX	A	0.11%	1.31%	0.11%
EL	D	0.05%	0.02%	0.02%
ELV	F	0.38%	0.3%	0.3%
ENPH	D	0.01%	0.41%	0.01%
EQIX	B	0.07%	0.85%	0.07%
EQR	C	0.08%	0.11%	0.08%
ERIE	A	0.02%	0.13%	0.02%
ESS	C	0.04%	0.12%	0.04%
EW	F	0.04%	0.36%	0.04%
EXR	C	0.05%	0.11%	0.05%
FAST	B	0.04%	0.22%	0.04%
FDS	C	0.01%	0.1%	0.01%
FFIV	B	0.02%	0.33%	0.02%
FI	A	0.14%	0.29%	0.14%
FIS	C	0.1%	0.05%	0.05%
FOX	A	0.05%	0.04%	0.04%
FOXA	A	0.08%	0.03%	0.03%
FSLR	C	0.03%	0.86%	0.03%
FTNT	A	0.04%	0.11%	0.04%
FTV	B	0.03%	0.25%	0.03%
GGG	B	0.01%	0.25%	0.01%
GOOG	B	1.15%	2.32%	1.15%
GOOGL	B	0.72%	1.03%	0.72%
GPN	F	0.06%	0.06%	0.06%
GRMN	D	0.06%	0.22%	0.06%
HD	A	0.53%	0.76%	0.53%
HIG	A	0.14%	0.19%	0.14%
HLT	A	0.02%	0.09%	0.02%
HOLX	D	0.02%	0.09%	0.02%
HSY	D	0.06%	0.06%	0.06%
IBM	B	0.45%	1.27%	0.45%
ICE	A	0.11%	0.29%	0.11%
IDXX	D	0.02%	0.44%	0.02%
IEX	D	0.01%	0.36%	0.01%
ILMN	B	0.03%	0.08%	0.03%
INTC	D	0.31%	0.3%	0.3%
INTU	F	0.05%	0.54%	0.05%
IQV	F	0.05%	0.05%	0.05%
IR	A	0.02%	0.17%	0.02%
ISRG	A	0.1%	0.34%	0.1%
IT	C	0.03%	0.02%	0.02%
JKHY	A	0.01%	0.01%	0.01%
JNJ	D	0.85%	0.96%	0.85%
JNPR	B	0.03%	0.29%	0.03%
JPM	D	1.33%	1.22%	1.22%
KDP	C	0.12%	0.09%	0.09%
KEYS	B	0.03%	0.15%	0.03%
KLAC	B	0.06%	0.24%	0.06%
LLY	D	0.23%	1.99%	0.23%
LULU	D	0.03%	0.13%	0.03%
MA	A	0.13%	0.92%	0.13%
MAR	B	0.08%	0.08%	0.08%
MCD	A	0.16%	1.15%	0.16%
MCO	D	0.04%	0.49%	0.04%
MDT	B	0.34%	0.17%	0.17%
MET	A	0.43%	0.17%	0.17%
META	A	1.8%	2.52%	1.8%
MKTX	C	0.01%	0.04%	0.01%
MMC	D	0.12%	0.34%	0.12%
MNST	D	0.05%	0.24%	0.05%
MRK	F	0.37%	0.82%	0.37%
MSFT	D	1.47%	6.99%	1.47%
MSI	A	0.04%	0.49%	0.04%
MTB	C	0.15%	0.08%	0.08%
MTCH	B	0.02%	0.02%	0.02%
MTD	B	0.02%	0.24%	0.02%
NBIX	F	0.01%	0.04%	0.01%
NDAQ	C	0.07%	0.12%	0.07%
NFLX	A	0.17%	0.7%	0.17%
NKE	D	0.14%	0.09%	0.09%
NOW	C	0.06%	1.02%	0.06%
NTRS	C	0.07%	0.08%	0.07%
NVDA	C	0.31%	6.78%	0.31%
O	A	0.12%	0.29%	0.12%
ODFL	D	0.03%	0.19%	0.03%
ORCL	B	0.42%	0.77%	0.42%
PANW	D	0.06%	0.23%	0.06%
PAYC	D	0.01%	0.01%	0.01%
PAYX	A	0.06%	0.24%	0.06%
PFE	D	0.83%	0.42%	0.42%
PGR	C	0.18%	0.38%	0.18%
PLD	D	0.15%	0.86%	0.15%
PNR	C	0.02%	0.18%	0.02%
PODD	C	0.01%	0.04%	0.01%
POOL	B	0.01%	0.02%	0.01%
PSA	C	0.07%	0.29%	0.07%
PYPL	C	0.17%	0.16%	0.16%
QCOM	D	0.23%	0.35%	0.23%
REG	C	0.04%	0.11%	0.04%
REGN	D	0.14%	0.27%	0.14%
RJF	B	0.05%	0.02%	0.02%
RMD	C	0.03%	0.12%	0.03%
ROK	D	0.04%	0.16%	0.04%
ROL	B	0.01%	0.18%	0.01%
ROP	C	0.05%	0.16%	0.05%
ROST	C	0.06%	0.16%	0.06%
RVTY	B	0.02%	0.15%	0.02%
SBUX	B	0.14%	0.3%	0.14%
SCHW	D	0.21%	0.34%	0.21%
SEIC	B	0.01%	0.1%	0.01%
SHW	B	0.06%	1.53%	0.06%
SPG	A	0.06%	0.15%	0.06%
SPGI	C	0.13%	0.82%	0.13%
STZ	B	0.05%	0.03%	0.03%
SYK	C	0.09%	0.33%	0.09%
TECH	C	0.0%	0.24%	0.0%
TFX	C	0.02%	0.05%	0.02%
TJX	C	0.17%	0.31%	0.17%
TMO	C	0.18%	0.63%	0.18%
TRMB	B	0.02%	0.12%	0.02%
TROW	D	0.07%	0.1%	0.07%
TSLA	C	0.52%	2.45%	0.52%
TTWO	F	0.02%	0.02%	0.02%
TXN	C	0.24%	0.69%	0.24%
TYL	B	0.02%	0.04%	0.02%
UBER	C	0.09%	0.14%	0.09%
ULTA	D	0.03%	0.08%	0.03%
UNH	B	1.17%	1.1%	1.1%
UNP	D	0.24%	0.22%	0.22%
URI	C	0.07%	0.03%	0.03%
USB	C	0.35%	0.08%	0.08%
V	C	0.41%	1.52%	0.41%
VICI	C	0.1%	0.44%	0.1%
VLTO	A	0.02%	0.2%	0.02%
VRSK	D	0.01%	0.14%	0.01%
VRSN	B	0.02%	0.09%	0.02%
VRTX	D	0.11%	0.28%	0.11%
VTR	C	0.08%	0.04%	0.04%
WAB	A	0.04%	0.03%	0.03%
WAT	B	0.02%	0.03%	0.02%
WELL	C	0.12%	0.21%	0.12%
WFC	D	0.96%	0.17%	0.17%
WPC	C	0.05%	0.03%	0.03%
WST	D	0.01%	0.18%	0.01%
WTW	B	0.07%	0.14%	0.07%
WYNN	B	0.02%	0.02%	0.02%
XYL	C	0.03%	1.27%	0.03%
YUM	A	0.03%	0.19%	0.03%
ZBH	F	0.05%	0.07%	0.05%
ZTS	C	0.05%	0.73%	0.05%

VLU Overweight 1216 Positions Relative to PABU

Symbol	Grade	Weight
XOM	A	2.06%
WMT	A	1.81%
VZ	A	1.69%
T	A	1.41%
BAC	D	1.35%
CVX	B	1.3%
C	B	1.04%
CVS	D	0.68%
PM	C	0.54%
PG	C	0.51%
GS	C	0.5%
MS	B	0.5%
MPC	F	0.49%
TFC	D	0.49%
PSX	D	0.49%
COF	C	0.49%
RTX	A	0.48%
GM	D	0.45%
KO	C	0.43%
COP	D	0.41%
KMI	A	0.39%
VLO	F	0.39%
TMUS	A	0.39%
NEE	A	0.39%
CI	D	0.38%
PRU	C	0.38%
PNC	C	0.37%
PEP	D	0.37%
F	D	0.37%
LMT	A	0.37%
UPS	D	0.37%
COR	F	0.35%
CNC	F	0.35%
DUK	A	0.35%
MO	D	0.34%
GILD	A	0.34%
MCK	F	0.33%
KR	C	0.33%
SO	A	0.32%
HPQ	C	0.3%
GE	C	0.29%
MMM	C	0.29%
COST	C	0.28%
DAL	C	0.28%
KHC	D	0.27%
ABT	B	0.25%
D	A	0.25%
ADM	D	0.25%
CAT	A	0.25%
FDX	D	0.24%
CAH	B	0.24%
AIG	F	0.24%
LOW	A	0.24%
TGT	C	0.23%
HPE	B	0.23%
GD	A	0.23%
EOG	B	0.23%
DE	A	0.23%
HCA	B	0.22%
LYB	D	0.22%
KVUE	C	0.22%
EXC	A	0.21%
HON	C	0.21%
MDLZ	C	0.21%
SW	C	0.21%
LIN	B	0.2%
DD	B	0.19%
DOW	B	0.19%
BBY	B	0.18%
NEM	C	0.18%
OXY	F	0.18%
NOC	B	0.17%
SYF	B	0.17%
TRV	C	0.17%
AEP	C	0.17%
SRE	A	0.17%
HUM	F	0.17%
LUV	B	0.16%
CFG	D	0.16%
WBD	D	0.16%
CCL	C	0.16%
UAL	B	0.16%
WMB	A	0.16%
PFG	C	0.16%
CHK	D	0.15%
LEN	B	0.15%
IP	C	0.15%
TSN	D	0.15%
JCI	B	0.15%
SLB	D	0.14%
MU	D	0.14%
XEL	A	0.14%
ED	A	0.14%
APD	C	0.14%
EMR	B	0.14%
BA	F	0.14%
ETR	A	0.14%
PEG	A	0.14%
RGA	C	0.13%
L	D	0.13%
CMI	B	0.13%
DHI	C	0.13%
DVN	F	0.13%
STT	C	0.13%
KEY	C	0.13%
ETN	C	0.12%
BX	C	0.12%
OKE	B	0.12%
NUE	D	0.12%
NSC	C	0.12%
VTRS	D	0.12%
PCG	B	0.12%
GIS	C	0.12%
SYY	B	0.12%
AMAT	B	0.12%
BG	F	0.12%
HBAN	D	0.11%
RF	C	0.11%
BKR	B	0.11%
CSX	D	0.11%
PFGC	A	0.11%
FANG	D	0.11%
KMB	B	0.11%
CTSH	B	0.11%
FITB	C	0.11%
EQT	B	0.11%
PCAR	D	0.11%
WEC	A	0.1%
GLW	B	0.1%
LHX	A	0.1%
DTE	A	0.1%
CL	D	0.1%
CARR	A	0.09%
EG	B	0.09%
CTVA	A	0.09%
AEE	A	0.09%
RSG	D	0.09%
UNM	A	0.09%
TAP	D	0.09%
OVV	F	0.09%
PH	A	0.09%
ES	C	0.09%
VST	A	0.09%
ITW	A	0.09%
PPL	A	0.09%
FCX	B	0.09%
WM	B	0.09%
STLD	B	0.08%
LAD	C	0.08%
HAL	F	0.08%
USFD	C	0.08%
MOS	D	0.08%
TT	A	0.08%
SNX	C	0.08%
CAG	D	0.08%
LRCX	D	0.08%
FNF	A	0.08%
HRL	F	0.08%
K	B	0.08%
MRO	D	0.08%
CBRE	A	0.08%
ALLY	F	0.08%
CHRW	A	0.07%
OMC	C	0.07%
RCL	C	0.07%
NVR	A	0.07%
PPG	D	0.07%
EQH	C	0.07%
DVA	C	0.07%
ATO	A	0.07%
CMA	C	0.07%
AZO	D	0.07%
IVZ	A	0.07%
X	F	0.07%
PHM	A	0.07%
CHRD	F	0.07%
WY	B	0.07%
BWA	B	0.07%
EVRG	C	0.07%
TRGP	B	0.07%
CNP	B	0.07%
FE	B	0.07%
LVS	B	0.07%
MHK	B	0.07%
NXPI	F	0.07%
ORLY	A	0.07%
VNO	A	0.06%
AES	B	0.06%
RNR	A	0.06%
PARA	F	0.06%
JXN	A	0.06%
R	C	0.06%
NRG	A	0.06%
STWD	C	0.06%
GPC	D	0.06%
VFC	B	0.06%
CTRA	D	0.06%
IFF	C	0.06%
ZION	D	0.06%
HES	D	0.06%
BAX	D	0.06%
NI	A	0.06%
CMS	A	0.06%
DINO	F	0.06%
ARW	C	0.06%
AAL	D	0.06%
AMCR	B	0.06%
APTV	D	0.06%
THC	C	0.06%
LUMN	C	0.06%
CF	A	0.06%
SWK	A	0.06%
IRM	A	0.05%
UGI	C	0.05%
STX	B	0.05%
MKC	C	0.05%
MGM	D	0.05%
BALL	C	0.05%
LNC	D	0.05%
COLB	C	0.05%
ECL	B	0.05%
WDC	C	0.05%
APA	F	0.05%
ON	F	0.05%
CEG	B	0.05%
IBKR	A	0.05%
KMX	F	0.05%
RS	D	0.05%
CPB	D	0.05%
JLL	B	0.05%
LDOS	A	0.05%
GEN	B	0.05%
SJM	C	0.05%
EMN	C	0.05%
ALK	B	0.05%
WRB	B	0.05%
MCHP	F	0.05%
ARMK	A	0.05%
GWW	A	0.05%
COOP	B	0.05%
TOL	A	0.05%
WHR	B	0.05%
BEN	F	0.05%
PNW	A	0.05%
UHS	D	0.05%
JEF	A	0.05%
DG	F	0.05%
BLDR	B	0.05%
LEA	F	0.05%
WBA	F	0.05%
LYV	A	0.04%
MUSA	D	0.04%
OGS	C	0.04%
WU	D	0.04%
BKH	C	0.04%
UTHR	C	0.04%
CCK	C	0.04%
HWM	A	0.04%
WCC	C	0.04%
M	F	0.04%
AA	B	0.04%
TKO	A	0.04%
OTIS	A	0.04%
PWR	B	0.04%
CPT	C	0.04%
OHI	C	0.04%
TSCO	A	0.04%
A	B	0.04%
TMHC	C	0.04%
TXT	F	0.04%
OZK	F	0.04%
KRC	C	0.04%
NTAP	D	0.04%
IPG	C	0.04%
BERY	C	0.04%
HST	D	0.04%
FYBR	C	0.04%
GAP	F	0.04%
AIZ	A	0.04%
AL	D	0.04%
EXPD	C	0.04%
EXPE	B	0.04%
AN	C	0.04%
AR	B	0.04%
VOYA	A	0.04%
MAA	C	0.04%
DLTR	F	0.04%
ABG	D	0.04%
WLK	C	0.04%
CIVI	F	0.04%
OGN	F	0.04%
FHN	D	0.04%
ALB	D	0.04%
AVT	C	0.04%
SNPS	F	0.04%
PKG	C	0.04%
ORI	B	0.04%
LNT	A	0.04%
INVH	D	0.04%
CE	D	0.04%
EWBC	D	0.04%
CNX	A	0.04%
JBL	D	0.04%
EA	D	0.04%
GLPI	A	0.04%
ROIV	D	0.04%
MUR	F	0.04%
GPI	C	0.04%
JHG	C	0.04%
MOH	D	0.04%
SWKS	F	0.04%
DRI	C	0.04%
OC	C	0.04%
CLH	C	0.03%
SFM	A	0.03%
COHR	B	0.03%
BKU	D	0.03%
BTU	B	0.03%
SATS	C	0.03%
WSM	B	0.03%
CNK	C	0.03%
FLR	D	0.03%
ABR	C	0.03%
CUBE	C	0.03%
CUZ	C	0.03%
BURL	D	0.03%
GNW	C	0.03%
PK	D	0.03%
AMH	D	0.03%
EME	C	0.03%
KD	F	0.03%
GHC	B	0.03%
MTG	B	0.03%
RDN	D	0.03%
CATY	D	0.03%
AMKR	F	0.03%
PB	D	0.03%
XPO	F	0.03%
GDDY	D	0.03%
HRB	C	0.03%
CSL	A	0.03%
NXST	D	0.03%
BRX	C	0.03%
SON	D	0.03%
ASB	F	0.03%
NCLH	C	0.03%
LAMR	C	0.03%
HP	F	0.03%
MLI	C	0.03%
GME	F	0.03%
CALM	B	0.03%
APLE	D	0.03%
PAG	D	0.03%
WTRG	D	0.03%
NWL	D	0.03%
MRNA	F	0.03%
BXMT	C	0.03%
MDU	C	0.03%
HUBB	A	0.03%
TDG	A	0.03%
SKX	B	0.03%
CZR	B	0.03%
NFG	A	0.03%
NNN	A	0.03%
PR	F	0.03%
ABM	D	0.03%
MAS	A	0.03%
MTZ	B	0.03%
RRC	D	0.03%
ONB	D	0.03%
NWSA	D	0.03%
RL	B	0.03%
VMC	D	0.03%
HSIC	D	0.03%
GPK	C	0.03%
NOG	F	0.03%
MLM	D	0.03%
DEI	A	0.03%
POST	C	0.03%
OGE	A	0.03%
THO	B	0.03%
PBF	F	0.03%
COKE	B	0.03%
HII	F	0.03%
UDR	C	0.03%
SF	A	0.03%
HAS	A	0.03%
JBHT	D	0.03%
HCC	B	0.03%
AKAM	D	0.03%
MAN	D	0.03%
AGCO	D	0.03%
FMC	B	0.03%
SNV	D	0.03%
TDY	A	0.03%
SNA	A	0.03%
CASY	D	0.03%
CLX	B	0.03%
GEHC	C	0.03%
WBS	D	0.03%
BJ	D	0.03%
DXC	D	0.03%
CMC	D	0.03%
SANM	D	0.03%
KNX	D	0.03%
MPW	C	0.03%
CNO	C	0.03%
WSO	C	0.03%
GL	C	0.03%
HIW	C	0.03%
INGR	A	0.03%
TPR	B	0.03%
J	D	0.03%
LKQ	F	0.03%
DKS	D	0.03%
CACI	A	0.03%
KIM	C	0.03%
FAF	B	0.03%
DOV	C	0.03%
VLY	C	0.03%
SEE	C	0.02%
STAG	D	0.02%
AVA	D	0.02%
ITT	B	0.02%
FLS	A	0.02%
PDCO	F	0.02%
AXTA	C	0.02%
GEO	F	0.02%
IIPR	C	0.02%
LBRT	F	0.02%
COLM	B	0.02%
VVV	D	0.02%
SLM	C	0.02%
ANDE	D	0.02%
GBX	C	0.02%
MIDD	D	0.02%
GEF	D	0.02%
LPX	A	0.02%
FR	C	0.02%
VYX	B	0.02%
GNL	D	0.02%
MLKN	F	0.02%
KAR	D	0.02%
MOG.A	A	0.02%
ASO	D	0.02%
SIGI	D	0.02%
LEG	D	0.02%
CAR	D	0.02%
GBCI	C	0.02%
TTEK	B	0.02%
ELS	D	0.02%
RUSHA	D	0.02%
WKC	A	0.02%
BHE	C	0.02%
AGO	B	0.02%
NATL	D	0.02%
BYD	C	0.02%
NVT	D	0.02%
AUB	D	0.02%
MMS	B	0.02%
KRG	C	0.02%
TCBI	C	0.02%
JBGS	C	0.02%
TKR	D	0.02%
IDA	C	0.02%
RRX	C	0.02%
FLO	D	0.02%
UMBF	C	0.02%
REXR	D	0.02%
ST	F	0.02%
VSTS	D	0.02%
BANC	D	0.02%
BLD	C	0.02%
VSCO	C	0.02%
MSM	D	0.02%
CRC	B	0.02%
POR	C	0.02%
GXO	D	0.02%
SLG	C	0.02%
COTY	F	0.02%
RNST	D	0.02%
WWD	B	0.02%
SKYW	B	0.02%
BANR	C	0.02%
NDSN	B	0.02%
LII	C	0.02%
CBT	B	0.02%
CPRI	B	0.02%
PRG	C	0.02%
OI	D	0.02%
FHB	D	0.02%
PTC	D	0.02%
BCC	C	0.02%
LNW	F	0.02%
AOS	B	0.02%
NWE	B	0.02%
ADNT	D	0.02%
BANF	D	0.02%
PRGO	F	0.02%
CBSH	D	0.02%
TER	C	0.02%
WFRD	F	0.02%
PRI	A	0.02%
CROX	C	0.02%
PPC	B	0.02%
VGR	B	0.02%
MHO	C	0.02%
EVR	C	0.02%
BC	D	0.02%
ALE	A	0.02%
IBOC	D	0.02%
SR	C	0.02%
MATX	C	0.02%
PVH	F	0.02%
HOMB	D	0.02%
ATI	B	0.02%
CIEN	A	0.02%
SWX	C	0.02%
FL	F	0.02%
IBTX	D	0.02%
PNM	B	0.02%
GNRC	B	0.02%
AAP	F	0.02%
ENVA	D	0.02%
AM	A	0.02%
AVNT	C	0.02%
WAFD	D	0.02%
CW	A	0.02%
KSS	D	0.02%
SBAC	B	0.02%
RPM	A	0.02%
DECK	B	0.02%
BBWI	F	0.02%
PFS	D	0.02%
SNEX	C	0.02%
BFH	D	0.02%
RHI	D	0.02%
FFBC	D	0.02%
TDS	B	0.02%
JWN	D	0.02%
URBN	F	0.02%
SEM	D	0.02%
THG	C	0.02%
OSK	F	0.02%
EHC	B	0.02%
QRVO	F	0.02%
CRS	C	0.02%
JBLU	B	0.02%
G	A	0.02%
CG	C	0.02%
KEX	C	0.02%
CNXC	F	0.02%
UBSI	D	0.02%
SAIC	A	0.02%
H	C	0.02%
SIG	C	0.02%
SLGN	C	0.02%
CADE	D	0.02%
ADC	B	0.02%
ESNT	C	0.02%
SBRA	C	0.02%
ARCH	D	0.02%
WTFC	D	0.02%
DTM	A	0.02%
OLN	D	0.02%
JAZZ	F	0.02%
CWEN	C	0.02%
PII	D	0.02%
TPH	C	0.02%
DAR	F	0.02%
BR	B	0.02%
NSIT	B	0.02%
ALV	F	0.02%
PNFP	D	0.02%
TGNA	B	0.02%
AMG	B	0.02%
SCI	C	0.02%
CWK	C	0.02%
SSB	C	0.02%
HOG	D	0.02%
ZBRA	A	0.02%
AVY	C	0.02%
UFPI	C	0.02%
CDNS	D	0.02%
SFNC	C	0.02%
INCY	B	0.02%
CFR	D	0.02%
MTDR	F	0.02%
STE	D	0.02%
GT	F	0.02%
MTH	C	0.02%
CEIX	B	0.02%
HBI	B	0.02%
FBIN	C	0.02%
KBH	C	0.02%
PENN	D	0.02%
HWC	D	0.02%
SM	F	0.02%
TRN	C	0.02%
NOV	F	0.02%
BHF	F	0.02%
FNB	D	0.02%
CLF	D	0.02%
CR	B	0.02%
IPAR	D	0.01%
AEIS	F	0.01%
MSA	F	0.01%
UNIT	B	0.01%
BFS	A	0.01%
GES	F	0.01%
MSGS	A	0.01%
SOLV	C	0.01%
GDOT	C	0.01%
MCRI	B	0.01%
CVLT	C	0.01%
APOG	B	0.01%
NGVT	D	0.01%
GO	F	0.01%
MYRG	F	0.01%
KREF	C	0.01%
BRKR	D	0.01%
EZPW	D	0.01%
ESAB	C	0.01%
SCL	D	0.01%
HCSG	D	0.01%
CHCO	D	0.01%
HAE	D	0.01%
MMI	C	0.01%
AAT	C	0.01%
MYGN	D	0.01%
SAFT	D	0.01%
VIR	F	0.01%
CHH	B	0.01%
BGS	D	0.01%
XHR	B	0.01%
AWR	A	0.01%
CAL	F	0.01%
AZZ	C	0.01%
JBT	B	0.01%
RDNT	C	0.01%
CHE	C	0.01%
ALGT	D	0.01%
ZD	D	0.01%
MRCY	B	0.01%
AMWD	B	0.01%
MP	B	0.01%
WRLD	D	0.01%
CHEF	C	0.01%
AIN	F	0.01%
LGND	D	0.01%
FWRD	D	0.01%
HPP	F	0.01%
EFC	D	0.01%
FORM	F	0.01%
ESE	B	0.01%
TDC	D	0.01%
DNOW	F	0.01%
NVRI	D	0.01%
EPC	F	0.01%
DRH	C	0.01%
FIZZ	D	0.01%
RES	D	0.01%
STRA	F	0.01%
GFF	C	0.01%
SMPL	D	0.01%
CFFN	D	0.01%
HQY	C	0.01%
SBCF	D	0.01%
KNF	C	0.01%
PLAB	D	0.01%
CWT	D	0.01%
TMP	D	0.01%
UCTT	D	0.01%
RCM	B	0.01%
SYNA	D	0.01%
HWKN	A	0.01%
PCTY	B	0.01%
GTY	C	0.01%
CPK	C	0.01%
MODG	F	0.01%
FSS	B	0.01%
NHC	D	0.01%
YELP	D	0.01%
BKE	D	0.01%
CASH	D	0.01%
INN	A	0.01%
MEDP	F	0.01%
ELME	C	0.01%
KN	C	0.01%
AWI	A	0.01%
CORT	B	0.01%
EIG	B	0.01%
HXL	F	0.01%
OLED	C	0.01%
HLX	D	0.01%
RGEN	F	0.01%
MMSI	C	0.01%
AVNS	D	0.01%
SKT	A	0.01%
CGNX	F	0.01%
VRE	C	0.01%
CVI	F	0.01%
CARG	C	0.01%
SVC	F	0.01%
KALU	D	0.01%
KWR	D	0.01%
SCHL	F	0.01%
EXP	C	0.01%
SHO	D	0.01%
EGBN	B	0.01%
GTLS	F	0.01%
JJSF	B	0.01%
TPX	C	0.01%
BRBR	C	0.01%
VTLE	F	0.01%
HI	F	0.01%
ENR	B	0.01%
MORN	C	0.01%
SXC	F	0.01%
NOVT	C	0.01%
B	C	0.01%
NBR	F	0.01%
MC	C	0.01%
MGEE	C	0.01%
HAIN	B	0.01%
AMED	D	0.01%
TBBK	C	0.01%
LANC	F	0.01%
ASIX	A	0.01%
OSIS	B	0.01%
CPF	C	0.01%
KLIC	D	0.01%
ONTO	B	0.01%
TREX	D	0.01%
FELE	C	0.01%
FCPT	C	0.01%
VNT	F	0.01%
OII	D	0.01%
HALO	D	0.01%
VC	F	0.01%
EXLS	A	0.01%
PJT	C	0.01%
DAY	B	0.01%
ALKS	B	0.01%
IOSP	F	0.01%
OMCL	C	0.01%
PLUS	C	0.01%
MASI	B	0.01%
MNRO	B	0.01%
CVCO	B	0.01%
VSAT	F	0.01%
DORM	C	0.01%
ROIC	C	0.01%
STC	C	0.01%
BRKL	D	0.01%
AXL	F	0.01%
FTDR	C	0.01%
WEN	D	0.01%
ARCB	D	0.01%
IPGP	D	0.01%
MTSI	B	0.01%
MATV	F	0.01%
BCPC	C	0.01%
ENOV	F	0.01%
DLX	F	0.01%
AHCO	C	0.01%
BLMN	F	0.01%
FBK	D	0.01%
AMN	F	0.01%
UE	C	0.01%
KELYA	D	0.01%
LTC	D	0.01%
PUMP	F	0.01%
AROC	B	0.01%
WD	C	0.01%
LXP	D	0.01%
SFBS	D	0.01%
HMN	B	0.01%
HASI	C	0.01%
IBP	B	0.01%
PHIN	C	0.01%
SCVL	D	0.01%
SPTN	B	0.01%
OFG	D	0.01%
FCF	D	0.01%
DCOM	C	0.01%
ETSY	F	0.01%
AVAV	B	0.01%
CWEN	C	0.01%
WGO	D	0.01%
CRI	D	0.01%
MKSI	F	0.01%
VSTO	D	0.01%
DOCS	A	0.01%
ORA	C	0.01%
ANF	F	0.01%
LGIH	C	0.01%
HGV	F	0.01%
PINC	F	0.01%
NSP	F	0.01%
CENTA	F	0.01%
KMT	C	0.01%
MTX	B	0.01%
SSD	B	0.01%
RWT	C	0.01%
UNF	A	0.01%
SXT	C	0.01%
OTTR	F	0.01%
NWS	D	0.01%
CBRL	D	0.01%
PARR	F	0.01%
BWXT	A	0.01%
ITGR	C	0.01%
AKR	C	0.01%
DT	C	0.01%
FND	C	0.01%
DIOD	F	0.01%
BOOT	A	0.01%
IRT	C	0.01%
APAM	C	0.01%
SBSI	D	0.01%
BOH	D	0.01%
NPO	C	0.01%
TTMI	D	0.01%
INVA	B	0.01%
EXPI	C	0.01%
PIPR	B	0.01%
PRK	D	0.01%
CHX	D	0.01%
SAH	D	0.01%
UA	B	0.01%
ODP	F	0.01%
SAIA	D	0.01%
LNTH	C	0.01%
CAKE	A	0.01%
BHLB	D	0.01%
NBTB	D	0.01%
SHOO	A	0.01%
CRK	B	0.01%
LOPE	D	0.01%
RXO	D	0.01%
WSFS	D	0.01%
IDCC	A	0.01%
PECO	C	0.01%
ENSG	D	0.01%
PBH	D	0.01%
ALGM	F	0.01%
STBA	D	0.01%
GVA	A	0.01%
WS	D	0.01%
WTS	C	0.01%
KLG	D	0.01%
DLB	D	0.01%
WMS	D	0.01%
FIX	A	0.01%
MD	B	0.01%
CNXN	C	0.01%
XRX	D	0.01%
PCH	C	0.01%
SHC	C	0.01%
WH	C	0.01%
NEU	F	0.01%
BRC	C	0.01%
SCSC	D	0.01%
RLI	A	0.01%
BDN	A	0.01%
FFIN	D	0.01%
LRN	C	0.01%
MAT	D	0.01%
LZB	C	0.01%
ITRI	C	0.01%
OPCH	F	0.01%
OMI	F	0.01%
CNM	F	0.01%
TEX	F	0.01%
NMIH	C	0.01%
NYT	A	0.01%
EGP	D	0.01%
BGC	C	0.01%
DPZ	D	0.01%
PSTG	F	0.01%
FUL	F	0.01%
RYN	C	0.01%
FN	B	0.01%
LPG	F	0.01%
CTRE	B	0.01%
ACHC	F	0.01%
ECPG	F	0.01%
PBI	C	0.01%
CCS	C	0.01%
OLLI	C	0.01%
TRMK	D	0.01%
KW	B	0.01%
RBC	C	0.01%
VAL	F	0.01%
FHI	C	0.01%
FDP	C	0.01%
THS	C	0.01%
GMS	C	0.01%
OUT	C	0.01%
KFY	C	0.01%
PATK	C	0.01%
RH	C	0.01%
NSA	C	0.01%
XRAY	D	0.01%
CBU	D	0.01%
CDP	A	0.01%
RC	F	0.01%
LW	D	0.01%
EXEL	B	0.01%
LECO	D	0.01%
WWW	A	0.01%
TTC	D	0.01%
LCII	B	0.01%
BDC	B	0.01%
EPR	C	0.01%
DAN	D	0.01%
SABR	B	0.01%
WERN	D	0.01%
PSMT	B	0.01%
CCOI	B	0.01%
ACIW	B	0.01%
GIII	C	0.01%
ARI	F	0.01%
SBH	C	0.01%
DEA	D	0.01%
AX	D	0.01%
UNFI	B	0.01%
UCB	D	0.01%
VAC	D	0.01%
INDB	D	0.01%
WOR	F	0.01%
LITE	A	0.01%
LSTR	D	0.01%
SRCL	B	0.01%
NVST	D	0.01%
FCN	C	0.01%
ACA	C	0.01%
NAVI	D	0.01%
CRL	F	0.01%
PTEN	F	0.01%
GNTX	D	0.01%
FBP	D	0.01%
AEO	B	0.01%
UPBD	F	0.01%
PMT	C	0.01%
NWN	C	0.01%
HNI	B	0.01%
ATGE	D	0.01%
PPBI	F	0.01%
HLI	C	0.01%
VSH	F	0.01%
EPAM	F	0.01%
CHDN	D	0.01%
TALO	F	0.01%
EPRT	C	0.01%
VBTX	C	0.01%
ASGN	D	0.01%
CVBF	B	0.01%
MPWR	B	0.01%
LFUS	C	0.01%
AIT	B	0.01%
VMI	B	0.01%
GRBK	C	0.01%
GMED	D	0.01%
DCI	B	0.01%
CXW	F	0.01%
EAT	A	0.01%
MSCI	B	0.01%
UVV	D	0.01%
BCO	C	0.01%
ENS	D	0.01%
CRUS	D	0.01%
DBX	B	0.01%
GATX	F	0.01%
HOPE	D	0.01%
AMR	F	0.01%
EEFT	F	0.01%
SMG	A	0.01%
WEX	C	0.01%
ATR	A	0.01%
HTH	D	0.01%
KMPR	D	0.01%
HUBG	D	0.01%
ICUI	B	0.01%
CABO	F	0.01%
PLXS	B	0.01%
AYI	A	0.01%
KTB	B	0.01%
FICO	A	0.01%
PEB	D	0.01%
FULT	D	0.01%
NWBI	D	0.01%
SPNT	D	0.01%
REZI	D	0.01%
UAA	B	0.01%
KBR	C	0.01%
MCY	B	0.01%
MGY	B	0.01%
TNL	B	0.01%
NJR	C	0.01%
SLVM	C	0.01%
MAC	C	0.01%
CC	D	0.01%
RGLD	C	0.01%
RUN	D	0.01%
FRT	D	0.01%
ASH	F	0.01%
MTN	D	0.01%
DY	C	0.01%
TXRH	A	0.01%
ABCB	C	0.01%
AORT	B	0.0%
VICR	B	0.0%
NPK	F	0.0%
XPEL	D	0.0%
NARI	F	0.0%
CHUY	B	0.0%
WOLF	F	0.0%
VCEL	F	0.0%
LESL	F	0.0%
AGYS	D	0.0%
GOGO	F	0.0%
MSEX	C	0.0%
PCRX	F	0.0%
EMBC	F	0.0%
PGNY	F	0.0%
SNCY	D	0.0%
TTGT	F	0.0%
CLB	D	0.0%
RGNX	F	0.0%
TGI	F	0.0%
ARWR	F	0.0%
ELF	F	0.0%
COHU	F	0.0%
CELH	F	0.0%
CERT	F	0.0%
STAA	D	0.0%
LQDT	C	0.0%
HCI	B	0.0%
CRSR	D	0.0%
CEVA	B	0.0%
SITM	B	0.0%
BMI	A	0.0%
NABL	F	0.0%
AAON	A	0.0%
SSTK	F	0.0%
TNDM	D	0.0%
ICHR	D	0.0%
MXL	F	0.0%
BJRI	D	0.0%
NXRT	D	0.0%
JBSS	F	0.0%
MYE	F	0.0%
PAYO	B	0.0%
GKOS	B	0.0%
DGII	B	0.0%
WT	D	0.0%
TRUP	D	0.0%
DV	F	0.0%
CARS	F	0.0%
ASTE	F	0.0%
PRLB	F	0.0%
EPAC	C	0.0%
CTS	B	0.0%
PEN	D	0.0%
IRWD	F	0.0%
AHH	F	0.0%
SHEN	F	0.0%
IIIN	F	0.0%
CYTK	F	0.0%
WSR	C	0.0%
CCRN	F	0.0%
PRVA	F	0.0%
CENT	F	0.0%
VVI	B	0.0%
XNCR	D	0.0%
CPRX	C	0.0%
SXI	C	0.0%
USNA	F	0.0%
SLAB	D	0.0%
GPRE	F	0.0%
JACK	F	0.0%
HSII	C	0.0%
SONO	D	0.0%
RGR	F	0.0%
THRM	F	0.0%
THRY	F	0.0%
SEDG	F	0.0%
TNC	F	0.0%
COLL	B	0.0%
PZZA	D	0.0%
LNN	C	0.0%
VECO	F	0.0%
MTUS	F	0.0%
EXTR	C	0.0%
ALG	D	0.0%
POWI	F	0.0%
SPSC	D	0.0%
HRMY	D	0.0%
YETI	B	0.0%
WING	B	0.0%
KOP	F	0.0%
ALRM	F	0.0%
MCW	F	0.0%
BSIG	D	0.0%
WDFC	B	0.0%
SGH	D	0.0%
HTLD	F	0.0%
GDEN	D	0.0%
QLYS	F	0.0%
WABC	F	0.0%
MATW	F	0.0%
KNSL	D	0.0%
WNC	F	0.0%
CNMD	D	0.0%
CSGS	C	0.0%
SJW	D	0.0%
AMSF	B	0.0%
RAMP	F	0.0%
IRDM	B	0.0%
USPH	F	0.0%
EYE	F	0.0%
AMPH	C	0.0%
VIAV	B	0.0%
RMBS	F	0.0%
UFPT	D	0.0%
BLKB	C	0.0%
RCUS	F	0.0%
LIVN	B	0.0%
NX	F	0.0%
DXPE	C	0.0%
TILE	C	0.0%
DFIN	C	0.0%
REX	D	0.0%
SMP	D	0.0%
MGPI	D	0.0%
OXM	F	0.0%
NVEE	F	0.0%
LSCC	D	0.0%
CXT	F	0.0%
PLMR	C	0.0%
IART	F	0.0%
FTRE	F	0.0%
NEO	F	0.0%
CLW	F	0.0%
DVAX	D	0.0%
PRFT	A	0.0%
LKFN	F	0.0%
FLGT	F	0.0%
HAYN	B	0.0%
PLNT	B	0.0%
JOE	D	0.0%
BOX	C	0.0%
UHT	C	0.0%
CALX	C	0.0%
TFIN	F	0.0%
PLAY	D	0.0%
FBRT	C	0.0%
MRTN	F	0.0%
AIR	D	0.0%
AZTA	F	0.0%
MANH	C	0.0%
HFWA	D	0.0%
HAYW	B	0.0%
CNSL	A	0.0%
CRVL	C	0.0%
EVTC	D	0.0%
AMBC	F	0.0%
ZI	F	0.0%
SMTC	C	0.0%
NTCT	B	0.0%
ENV	C	0.0%
EXPO	A	0.0%
CENX	B	0.0%
HTZ	F	0.0%
TRIP	F	0.0%
AOSL	D	0.0%
HAFC	D	0.0%
TR	D	0.0%
PRGS	B	0.0%
HLIT	C	0.0%
PRAA	F	0.0%
SAM	D	0.0%
PAHC	C	0.0%
ETD	C	0.0%
SUPN	D	0.0%
VTOL	D	0.0%
ROG	D	0.0%
MTRN	F	0.0%
HZO	D	0.0%
QNST	B	0.0%
NEOG	D	0.0%
ASTH	A	0.0%
ACLS	F	0.0%
PFBC	D	0.0%
TRST	D	0.0%
FIVE	D	0.0%
CSR	D	0.0%
PRDO	D	0.0%
TWI	F	0.0%
HELE	D	0.0%
UTL	C	0.0%
FBNC	D	0.0%
PRA	B	0.0%
UFCS	D	0.0%
VRTS	F	0.0%
POWL	A	0.0%
ADUS	D	0.0%
VRRM	D	0.0%
SHAK	C	0.0%
FOXF	F	0.0%
CUBI	F	0.0%
ROCK	D	0.0%
ALEX	D	0.0%
NBHC	D	0.0%

VLU Underweight 27 Positions Relative to PABU

Symbol	Grade	Weight
RIVN	F	-0.33%
MRVL	C	-0.3%
MELI	C	-0.29%
RPRX	B	-0.28%
MKL	C	-0.16%
KKR	A	-0.15%
ALNY	C	-0.15%
COO	C	-0.11%
FWONK	D	-0.07%
TTD	C	-0.07%
WDAY	D	-0.07%
VEEV	C	-0.07%
BAH	A	-0.06%
BMRN	F	-0.06%
TEL	D	-0.05%
ZM	C	-0.04%
SNOW	F	-0.02%
TW	A	-0.02%
PINS	D	-0.02%
NLY	C	-0.01%
AVTR	D	-0.01%
SSNC	C	-0.01%
EXAS	C	-0.01%
OKTA	F	-0.01%
COIN	F	-0.01%
Z	C	-0.01%
SNAP	D	-0.01%