VLU vs. PRF ETF Comparison

Comparison of SPDR S&P 1500 Value Tilt ETF (VLU) to Powershares FTSE RAFI US 1000 Portfolio (PRF)

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

$184.06

Average Daily Volume

9,383

Number of Holdings ^*

1425

* may have additional holdings in another (foreign) market

PRF

Powershares FTSE RAFI US 1000 Portfolio

PRF Description

The PowerShares FTSE RAFI US 1000 Portfolio (Fund) is based on the FTSE RAFI US 1000 Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to track the performance of the largest US equities, selected based on the following four fundamental measures of firm size: book value, cash flow, sales and dividends. The 1,000 equities with the highest fundamental strength are weighted by their fundamental scores. The Fund and the Index are reconstituted annually.

Grade (RS Rating)

Last Trade

$40.62

Average Daily Volume

280,804

Number of Holdings ^*

984

* may have additional holdings in another (foreign) market

Performance

Period	VLU	PRF
30 Days	2.89%	2.79%
60 Days	9.39%	9.32%
90 Days	7.15%	7.16%
12 Months	32.37%	32.44%

885 Overlapping Holdings

	Symbol	Grade	Weight in VLU	Weight in PRF	Overlap
	A	B	0.04%	0.04%	0.04%
	AA	B	0.04%	0.07%	0.04%
	AAL	D	0.06%	0.01%	0.01%
	AAP	F	0.02%	0.02%	0.02%
	AAPL	C	2.48%	2.41%	2.41%
	ABBV	C	0.46%	0.68%	0.46%
	ABCB	C	0.01%	0.02%	0.01%
	ABG	D	0.04%	0.04%	0.04%
	ABM	D	0.03%	0.02%	0.02%
	ABNB	D	0.06%	0.01%	0.01%
	ABR	C	0.03%	0.01%	0.01%
	ABT	C	0.25%	0.32%	0.25%
	ACGL	A	0.14%	0.08%	0.08%
	ACHC	F	0.01%	0.01%	0.01%
	ACM	A	0.03%	0.05%	0.03%
	ACN	B	0.32%	0.25%	0.25%
	ADBE	F	0.17%	0.11%	0.11%
	ADC	C	0.02%	0.02%	0.02%
	ADI	B	0.14%	0.19%	0.14%
	ADM	F	0.25%	0.25%	0.25%
	ADNT	F	0.02%	0.02%	0.02%
	ADP	A	0.08%	0.13%	0.08%
	ADSK	B	0.03%	0.02%	0.02%
	AEE	A	0.09%	0.09%	0.09%
	AEO	C	0.01%	0.02%	0.01%
	AEP	C	0.17%	0.23%	0.17%
	AES	C	0.06%	0.08%	0.06%
	AFG	A	0.09%	0.05%	0.05%
	AFL	A	0.22%	0.21%	0.21%
	AGCO	D	0.03%	0.03%	0.03%
	AGO	B	0.02%	0.02%	0.02%
	AIG	C	0.24%	0.3%	0.24%
	AIT	B	0.01%	0.01%	0.01%
	AIZ	B	0.04%	0.04%	0.04%
	AJG	C	0.06%	0.07%	0.06%
	AKAM	D	0.03%	0.03%	0.03%
	AL	D	0.04%	0.03%	0.03%
	ALB	D	0.04%	0.03%	0.03%
	ALE	A	0.02%	0.02%	0.02%
	ALGN	D	0.02%	0.02%	0.02%
	ALL	A	0.16%	0.2%	0.16%
	ALLE	A	0.02%	0.02%	0.02%
	ALLY	F	0.08%	0.08%	0.08%
	ALV	F	0.02%	0.03%	0.02%
	AM	A	0.02%	0.01%	0.01%
	AMAT	C	0.12%	0.14%	0.12%
	AMD	C	0.14%	0.18%	0.14%
	AME	C	0.03%	0.04%	0.03%
	AMG	B	0.02%	0.02%	0.02%
	AMGN	D	0.27%	0.36%	0.27%
	AMH	D	0.03%	0.02%	0.02%
	AMKR	F	0.03%	0.01%	0.01%
	AMN	F	0.01%	0.01%	0.01%
	AMP	A	0.11%	0.09%	0.09%
	AMR	F	0.01%	0.01%	0.01%
	AMT	D	0.15%	0.18%	0.15%
	AMZN	C	1.92%	1.57%	1.57%
	AN	D	0.04%	0.06%	0.04%
	ANDE	D	0.02%	0.01%	0.01%
	ANET	A	0.07%	0.03%	0.03%
	ANSS	D	0.02%	0.02%	0.02%
	AON	A	0.07%	0.07%	0.07%
	AOS	C	0.02%	0.02%	0.02%
	APA	F	0.05%	0.04%	0.04%
	APAM	B	0.01%	0.01%	0.01%
	APD	C	0.14%	0.16%	0.14%
	APH	D	0.06%	0.08%	0.06%
	APLE	B	0.03%	0.02%	0.02%
	APTV	D	0.06%	0.05%	0.05%
	AR	C	0.04%	0.04%	0.04%
	ARCB	F	0.01%	0.01%	0.01%
	ARCH	D	0.02%	0.01%	0.01%
	ARE	D	0.05%	0.07%	0.05%
	ARI	F	0.01%	0.01%	0.01%
	ARMK	C	0.05%	0.03%	0.03%
	ARW	C	0.06%	0.09%	0.06%
	ASB	D	0.03%	0.02%	0.02%
	ASGN	D	0.01%	0.02%	0.01%
	ASH	F	0.01%	0.01%	0.01%
	ASO	D	0.02%	0.01%	0.01%
	ATI	C	0.02%	0.02%	0.02%
	ATO	A	0.07%	0.06%	0.06%
	ATR	A	0.01%	0.02%	0.01%
	AUB	D	0.02%	0.01%	0.01%
	AVA	D	0.02%	0.02%	0.02%
	AVB	C	0.07%	0.08%	0.07%
	AVGO	B	0.44%	0.52%	0.44%
	AVNT	C	0.02%	0.02%	0.02%
	AVT	B	0.04%	0.04%	0.04%
	AVY	D	0.02%	0.04%	0.02%
	AWK	D	0.06%	0.06%	0.06%
	AXL	F	0.01%	0.01%	0.01%
	AXP	A	0.34%	0.28%	0.28%
	AXTA	C	0.02%	0.02%	0.02%
	AYI	A	0.01%	0.02%	0.01%
	AZO	D	0.07%	0.07%	0.07%
	BA	F	0.14%	0.13%	0.13%
	BAC	B	1.35%	1.22%	1.22%
	BALL	C	0.05%	0.05%	0.05%
	BAX	D	0.06%	0.06%	0.06%
	BBWI	F	0.02%	0.03%	0.02%
	BBY	C	0.18%	0.16%	0.16%
	BC	C	0.02%	0.02%	0.02%
	BCC	C	0.02%	0.02%	0.02%
	BCO	C	0.01%	0.02%	0.01%
	BDN	B	0.01%	0.01%	0.01%
	BDX	C	0.09%	0.14%	0.09%
	BEN	F	0.05%	0.03%	0.03%
	BERY	C	0.04%	0.04%	0.04%
	BFH	D	0.02%	0.04%	0.02%
	BG	F	0.12%	0.11%	0.11%
	BGS	D	0.01%	0.01%	0.01%
	BHF	D	0.02%	0.02%	0.02%
	BIIB	F	0.09%	0.11%	0.09%
	BIO	B	0.03%	0.02%	0.02%
	BJ	B	0.03%	0.05%	0.03%
	BK	A	0.27%	0.26%	0.26%
	BKH	C	0.04%	0.02%	0.02%
	BKNG	B	0.1%	0.09%	0.09%
	BKR	B	0.11%	0.1%	0.1%
	BKU	D	0.03%	0.02%	0.02%
	BLD	D	0.02%	0.02%	0.02%
	BLDR	C	0.05%	0.06%	0.05%
	BLK	A	0.2%	0.31%	0.2%
	BMY	A	0.34%	0.38%	0.34%
	BR	B	0.02%	0.03%	0.02%
	BRK.A	B	2.43%	2.37%	2.37%
	BRO	A	0.04%	0.03%	0.03%
	BRX	C	0.03%	0.03%	0.03%
	BSX	A	0.11%	0.12%	0.11%
	BTU	B	0.03%	0.02%	0.02%
	BURL	C	0.03%	0.03%	0.03%
	BWA	C	0.07%	0.05%	0.05%
	BWXT	A	0.01%	0.01%	0.01%
	BX	C	0.12%	0.12%	0.12%
	BXMT	C	0.03%	0.02%	0.02%
	BXP	B	0.06%	0.06%	0.06%
	BYD	B	0.02%	0.01%	0.01%
	C	B	1.04%	1.08%	1.04%
	CABO	F	0.01%	0.01%	0.01%
	CACI	A	0.03%	0.03%	0.03%
	CADE	B	0.02%	0.02%	0.02%
	CAG	D	0.08%	0.08%	0.08%
	CAH	B	0.24%	0.27%	0.24%
	CAR	D	0.02%	0.02%	0.02%
	CARR	A	0.09%	0.12%	0.09%
	CASY	D	0.03%	0.04%	0.03%
	CAT	A	0.25%	0.35%	0.25%
	CATY	B	0.03%	0.01%	0.01%
	CB	A	0.35%	0.31%	0.31%
	CBOE	B	0.03%	0.02%	0.02%
	CBRE	C	0.08%	0.12%	0.08%
	CBRL	D	0.01%	0.01%	0.01%
	CBSH	D	0.02%	0.02%	0.02%
	CBT	B	0.02%	0.02%	0.02%
	CC	D	0.01%	0.02%	0.01%
	CCI	D	0.12%	0.14%	0.12%
	CCK	C	0.04%	0.04%	0.04%
	CCL	C	0.16%	0.06%	0.06%
	CCS	C	0.01%	0.01%	0.01%
	CDNS	D	0.02%	0.02%	0.02%
	CDP	A	0.01%	0.02%	0.01%
	CDW	D	0.04%	0.05%	0.04%
	CE	D	0.04%	0.04%	0.04%
	CEG	A	0.05%	0.16%	0.05%
	CF	A	0.06%	0.06%	0.06%
	CFG	C	0.16%	0.14%	0.14%
	CFR	B	0.02%	0.02%	0.02%
	CG	B	0.02%	0.03%	0.02%
	CGNX	F	0.01%	0.01%	0.01%
	CHD	D	0.03%	0.04%	0.03%
	CHK	C	0.15%	0.05%	0.05%
	CHRD	F	0.07%	0.02%	0.02%
	CHRW	C	0.07%	0.08%	0.07%
	CHTR	D	0.29%	0.21%	0.21%
	CI	D	0.38%	0.4%	0.38%
	CIEN	A	0.02%	0.02%	0.02%
	CINF	A	0.07%	0.07%	0.07%
	CIVI	F	0.04%	0.01%	0.01%
	CL	D	0.1%	0.15%	0.1%
	CLF	D	0.02%	0.03%	0.02%
	CLH	B	0.03%	0.02%	0.02%
	CLX	C	0.03%	0.05%	0.03%
	CMA	C	0.07%	0.05%	0.05%
	CMC	D	0.03%	0.02%	0.02%
	CMCSA	B	0.62%	0.77%	0.62%
	CME	A	0.11%	0.15%	0.11%
	CMG	C	0.04%	0.03%	0.03%
	CMI	A	0.13%	0.14%	0.13%
	CMS	A	0.06%	0.08%	0.06%
	CNC	F	0.35%	0.28%	0.28%
	CNM	F	0.01%	0.01%	0.01%
	CNO	B	0.03%	0.03%	0.03%
	CNP	B	0.07%	0.07%	0.07%
	CNX	A	0.04%	0.03%	0.03%
	CNXC	F	0.02%	0.01%	0.01%
	COF	A	0.49%	0.35%	0.35%
	COHR	B	0.03%	0.03%	0.03%
	COLB	C	0.05%	0.02%	0.02%
	COOP	B	0.05%	0.03%	0.03%
	COP	D	0.41%	0.4%	0.4%
	COR	F	0.35%	0.24%	0.24%
	COST	C	0.28%	0.55%	0.28%
	CPAY	A	0.04%	0.03%	0.03%
	CPB	D	0.05%	0.04%	0.04%
	CPRI	C	0.02%	0.02%	0.02%
	CPRT	B	0.03%	0.03%	0.03%
	CPT	C	0.04%	0.04%	0.04%
	CR	A	0.02%	0.02%	0.02%
	CRC	B	0.02%	0.01%	0.01%
	CRI	D	0.01%	0.01%	0.01%
	CRL	F	0.01%	0.02%	0.01%
	CRM	B	0.24%	0.21%	0.21%
	CSCO	A	0.48%	0.6%	0.48%
	CSGP	F	0.03%	0.02%	0.02%
	CSL	A	0.03%	0.03%	0.03%
	CSX	D	0.11%	0.14%	0.11%
	CTAS	C	0.04%	0.06%	0.04%
	CTLT	A	0.01%	0.03%	0.01%
	CTRA	D	0.06%	0.07%	0.06%
	CTSH	B	0.11%	0.1%	0.1%
	CTVA	A	0.09%	0.1%	0.09%
	CUBE	C	0.03%	0.02%	0.02%
	CUZ	C	0.03%	0.02%	0.02%
	CVS	D	0.68%	0.62%	0.62%
	CVX	B	1.3%	1.08%	1.08%
	CW	A	0.02%	0.02%	0.02%
	CWK	D	0.02%	0.02%	0.02%
	CXW	F	0.01%	0.01%	0.01%
	CZR	B	0.03%	0.03%	0.03%
	D	A	0.25%	0.28%	0.25%
	DAL	C	0.28%	0.04%	0.04%
	DAN	D	0.01%	0.01%	0.01%
	DAR	F	0.02%	0.02%	0.02%
	DCI	B	0.01%	0.02%	0.01%
	DD	C	0.19%	0.18%	0.18%
	DE	C	0.23%	0.24%	0.23%
	DECK	B	0.02%	0.02%	0.02%
	DEI	A	0.03%	0.02%	0.02%
	DFS	A	0.13%	0.16%	0.13%
	DG	F	0.05%	0.06%	0.05%
	DGX	D	0.05%	0.07%	0.05%
	DHI	C	0.13%	0.14%	0.13%
	DHR	D	0.13%	0.19%	0.13%
	DINO	F	0.06%	0.04%	0.04%
	DIOD	F	0.01%	0.01%	0.01%
	DIS	D	0.27%	0.38%	0.27%
	DKS	D	0.03%	0.04%	0.03%
	DLR	C	0.04%	0.12%	0.04%
	DLTR	F	0.04%	0.04%	0.04%
	DOC	C	0.05%	0.08%	0.05%
	DOV	C	0.03%	0.05%	0.03%
	DOW	B	0.19%	0.23%	0.19%
	DPZ	D	0.01%	0.02%	0.01%
	DRH	B	0.01%	0.01%	0.01%
	DRI	C	0.04%	0.05%	0.04%
	DTE	B	0.1%	0.11%	0.1%
	DTM	A	0.02%	0.03%	0.02%
	DUK	C	0.35%	0.43%	0.35%
	DVA	C	0.07%	0.04%	0.04%
	DVN	F	0.13%	0.1%	0.1%
	DXC	C	0.03%	0.04%	0.03%
	DXCM	F	0.01%	0.01%	0.01%
	DY	C	0.01%	0.02%	0.01%
	EA	D	0.04%	0.04%	0.04%
	EBAY	A	0.09%	0.1%	0.09%
	ECL	C	0.05%	0.08%	0.05%
	ED	C	0.14%	0.17%	0.14%
	EEFT	F	0.01%	0.01%	0.01%
	EFX	D	0.02%	0.03%	0.02%
	EG	A	0.09%	0.05%	0.05%
	EGP	D	0.01%	0.01%	0.01%
	EHC	C	0.02%	0.02%	0.02%
	EIX	C	0.11%	0.15%	0.11%
	EL	D	0.05%	0.04%	0.04%
	ELS	D	0.02%	0.02%	0.02%
	ELV	F	0.38%	0.37%	0.37%
	EME	B	0.03%	0.04%	0.03%
	EMN	C	0.05%	0.07%	0.05%
	EMR	B	0.14%	0.13%	0.13%
	ENOV	F	0.01%	0.01%	0.01%
	ENS	B	0.01%	0.01%	0.01%
	EOG	B	0.23%	0.25%	0.23%
	EPAM	F	0.01%	0.01%	0.01%
	EPR	C	0.01%	0.02%	0.01%
	EQH	B	0.07%	0.05%	0.05%
	EQIX	C	0.07%	0.1%	0.07%
	EQR	C	0.08%	0.09%	0.08%
	EQT	C	0.11%	0.06%	0.06%
	ES	D	0.09%	0.12%	0.09%
	ESAB	C	0.01%	0.01%	0.01%
	ESNT	A	0.02%	0.02%	0.02%
	ESS	D	0.04%	0.05%	0.04%
	ETN	B	0.12%	0.17%	0.12%
	ETR	A	0.14%	0.14%	0.14%
	EVR	C	0.02%	0.02%	0.02%
	EVRG	C	0.07%	0.08%	0.07%
	EW	F	0.04%	0.03%	0.03%
	EWBC	B	0.04%	0.04%	0.04%
	EXC	C	0.21%	0.22%	0.21%
	EXEL	B	0.01%	0.02%	0.01%
	EXPD	D	0.04%	0.05%	0.04%
	EXPE	B	0.04%	0.03%	0.03%
	EXR	D	0.05%	0.04%	0.04%
	F	D	0.37%	0.38%	0.37%
	FAF	C	0.03%	0.04%	0.03%
	FANG	D	0.11%	0.07%	0.07%
	FAST	C	0.04%	0.05%	0.04%
	FBIN	C	0.02%	0.03%	0.02%
	FCN	C	0.01%	0.02%	0.01%
	FCX	B	0.09%	0.17%	0.09%
	FDS	C	0.01%	0.01%	0.01%
	FDX	F	0.24%	0.3%	0.24%
	FE	C	0.07%	0.11%	0.07%
	FFBC	D	0.02%	0.01%	0.01%
	FFIV	B	0.02%	0.02%	0.02%
	FHB	D	0.02%	0.02%	0.02%
	FHN	D	0.04%	0.04%	0.04%
	FI	A	0.14%	0.19%	0.14%
	FIS	A	0.1%	0.15%	0.1%
	FITB	C	0.11%	0.13%	0.11%
	FIVE	D	0.0%	0.01%	0.0%
	FL	F	0.02%	0.02%	0.02%
	FLO	D	0.02%	0.02%	0.02%
	FLR	B	0.03%	0.03%	0.03%
	FLS	A	0.02%	0.02%	0.02%
	FMC	C	0.03%	0.04%	0.03%
	FNB	D	0.02%	0.03%	0.02%
	FND	C	0.01%	0.01%	0.01%
	FNF	C	0.08%	0.07%	0.07%
	FOX	B	0.05%	0.03%	0.03%
	FOXA	B	0.08%	0.05%	0.05%
	FR	D	0.02%	0.01%	0.01%
	FRT	D	0.01%	0.03%	0.01%
	FSLR	C	0.03%	0.04%	0.03%
	FTNT	A	0.04%	0.01%	0.01%
	FTV	C	0.03%	0.03%	0.03%
	FUL	F	0.01%	0.01%	0.01%
	FULT	D	0.01%	0.02%	0.01%
	FYBR	C	0.04%	0.07%	0.04%
	G	A	0.02%	0.02%	0.02%
	GAP	F	0.04%	0.03%	0.03%
	GATX	F	0.01%	0.01%	0.01%
	GBCI	B	0.02%	0.02%	0.02%
	GD	C	0.23%	0.19%	0.19%
	GDDY	B	0.03%	0.02%	0.02%
	GE	B	0.29%	0.25%	0.25%
	GEF	B	0.02%	0.01%	0.01%
	GEHC	C	0.03%	0.09%	0.03%
	GEN	A	0.05%	0.06%	0.05%
	GEO	D	0.02%	0.02%	0.02%
	GGG	C	0.01%	0.02%	0.01%
	GHC	A	0.03%	0.01%	0.01%
	GILD	A	0.34%	0.35%	0.34%
	GIS	C	0.12%	0.15%	0.12%
	GL	C	0.03%	0.03%	0.03%
	GLPI	C	0.04%	0.03%	0.03%
	GLW	C	0.1%	0.12%	0.1%
	GM	D	0.45%	0.63%	0.45%
	GME	D	0.03%	0.02%	0.02%
	GMS	B	0.01%	0.02%	0.01%
	GNRC	B	0.02%	0.02%	0.02%
	GNTX	D	0.01%	0.01%	0.01%
	GNW	A	0.03%	0.02%	0.02%
	GOOG	B	1.15%	0.86%	0.86%
	GOOGL	B	0.72%	1.0%	0.72%
	GPC	D	0.06%	0.06%	0.06%
	GPI	C	0.04%	0.04%	0.04%
	GPK	D	0.03%	0.03%	0.03%
	GPN	F	0.06%	0.06%	0.06%
	GRMN	D	0.06%	0.06%	0.06%
	GS	B	0.5%	0.67%	0.5%
	GT	F	0.02%	0.04%	0.02%
	GTLS	D	0.01%	0.01%	0.01%
	GWW	B	0.05%	0.05%	0.05%
	GXO	D	0.02%	0.02%	0.02%
	HAL	D	0.08%	0.07%	0.07%
	HAS	A	0.03%	0.05%	0.03%
	HBAN	B	0.11%	0.1%	0.1%
	HBI	B	0.02%	0.04%	0.02%
	HCA	C	0.22%	0.19%	0.19%
	HCC	C	0.03%	0.02%	0.02%
	HD	A	0.53%	0.74%	0.53%
	HELE	D	0.0%	0.01%	0.0%
	HES	D	0.06%	0.05%	0.05%
	HIG	A	0.14%	0.15%	0.14%
	HII	F	0.03%	0.03%	0.03%
	HIW	C	0.03%	0.02%	0.02%
	HLT	A	0.02%	0.03%	0.02%
	HOG	D	0.02%	0.02%	0.02%
	HOLX	D	0.02%	0.04%	0.02%
	HOMB	D	0.02%	0.02%	0.02%
	HON	C	0.21%	0.27%	0.21%
	HP	D	0.03%	0.01%	0.01%
	HPE	B	0.23%	0.19%	0.19%
	HPP	F	0.01%	0.01%	0.01%
	HPQ	B	0.3%	0.19%	0.19%
	HRB	C	0.03%	0.03%	0.03%
	HRL	F	0.08%	0.04%	0.04%
	HSIC	D	0.03%	0.04%	0.03%
	HST	D	0.04%	0.04%	0.04%
	HSY	D	0.06%	0.05%	0.05%
	HTZ	F	0.0%	0.01%	0.0%
	HUBB	A	0.03%	0.03%	0.03%
	HUBG	D	0.01%	0.02%	0.01%
	HUM	F	0.17%	0.16%	0.16%
	HWC	D	0.02%	0.02%	0.02%
	HWM	A	0.04%	0.04%	0.04%
	IBM	A	0.45%	0.57%	0.45%
	ICE	A	0.11%	0.13%	0.11%
	IDA	D	0.02%	0.02%	0.02%
	IDXX	D	0.02%	0.01%	0.01%
	IEX	D	0.01%	0.02%	0.01%
	IFF	D	0.06%	0.1%	0.06%
	ILMN	B	0.03%	0.02%	0.02%
	INCY	B	0.02%	0.02%	0.02%
	INDB	D	0.01%	0.01%	0.01%
	INGR	B	0.03%	0.04%	0.03%
	INTC	D	0.31%	0.43%	0.31%
	INTU	F	0.05%	0.08%	0.05%
	INVH	D	0.04%	0.05%	0.04%
	IP	C	0.15%	0.14%	0.14%
	IPG	D	0.04%	0.05%	0.04%
	IQV	F	0.05%	0.06%	0.05%
	IR	A	0.02%	0.03%	0.02%
	IRM	B	0.05%	0.09%	0.05%
	IRT	D	0.01%	0.01%	0.01%
	ISRG	C	0.1%	0.07%	0.07%
	IT	A	0.03%	0.02%	0.02%
	ITT	C	0.02%	0.02%	0.02%
	ITW	C	0.09%	0.12%	0.09%
	IVZ	A	0.07%	0.06%	0.06%
	J	F	0.03%	0.04%	0.03%
	JAZZ	F	0.02%	0.02%	0.02%
	JBGS	C	0.02%	0.01%	0.01%
	JBHT	D	0.03%	0.03%	0.03%
	JBL	C	0.04%	0.05%	0.04%
	JCI	C	0.15%	0.17%	0.15%
	JEF	A	0.05%	0.06%	0.05%
	JHG	A	0.04%	0.03%	0.03%
	JKHY	A	0.01%	0.02%	0.01%
	JLL	C	0.05%	0.07%	0.05%
	JNJ	D	0.85%	1.0%	0.85%
	JNPR	C	0.03%	0.03%	0.03%
	JPM	C	1.33%	1.97%	1.33%
	JWN	D	0.02%	0.03%	0.02%
	JXN	A	0.06%	0.09%	0.06%
	K	B	0.08%	0.08%	0.08%
	KBH	D	0.02%	0.03%	0.02%
	KBR	A	0.01%	0.02%	0.01%
	KD	D	0.03%	0.05%	0.03%
	KDP	C	0.12%	0.11%	0.11%
	KEX	C	0.02%	0.02%	0.02%
	KEY	B	0.13%	0.1%	0.1%
	KEYS	B	0.03%	0.03%	0.03%
	KHC	F	0.27%	0.16%	0.16%
	KIM	C	0.03%	0.05%	0.03%
	KLAC	B	0.06%	0.06%	0.06%
	KMB	D	0.11%	0.15%	0.11%
	KMI	A	0.39%	0.26%	0.26%
	KMPR	D	0.01%	0.02%	0.01%
	KMT	C	0.01%	0.01%	0.01%
	KMX	F	0.05%	0.08%	0.05%
	KNF	B	0.01%	0.01%	0.01%
	KNX	D	0.03%	0.03%	0.03%
	KO	C	0.43%	0.55%	0.43%
	KR	C	0.33%	0.31%	0.31%
	KRC	C	0.04%	0.03%	0.03%
	KRG	C	0.02%	0.02%	0.02%
	KSS	D	0.02%	0.05%	0.02%
	L	C	0.13%	0.06%	0.06%
	LAD	C	0.08%	0.05%	0.05%
	LAMR	C	0.03%	0.03%	0.03%
	LCII	C	0.01%	0.01%	0.01%
	LDOS	A	0.05%	0.06%	0.05%
	LEA	F	0.05%	0.04%	0.04%
	LECO	D	0.01%	0.01%	0.01%
	LEG	D	0.02%	0.02%	0.02%
	LEN	C	0.15%	0.01%	0.01%
	LEN	C	0.15%	0.14%	0.14%
	LFUS	C	0.01%	0.01%	0.01%
	LGIH	C	0.01%	0.01%	0.01%
	LHX	A	0.1%	0.12%	0.1%
	LII	C	0.02%	0.02%	0.02%
	LIN	C	0.2%	0.3%	0.2%
	LITE	A	0.01%	0.02%	0.01%
	LKQ	F	0.03%	0.04%	0.03%
	LLY	D	0.23%	0.25%	0.23%
	LMT	A	0.37%	0.38%	0.37%
	LNC	B	0.05%	0.06%	0.05%
	LNT	B	0.04%	0.06%	0.04%
	LNW	F	0.02%	0.02%	0.02%
	LOW	C	0.24%	0.35%	0.24%
	LPX	C	0.02%	0.02%	0.02%
	LRCX	D	0.08%	0.08%	0.08%
	LSTR	F	0.01%	0.02%	0.01%
	LULU	D	0.03%	0.02%	0.02%
	LUMN	C	0.06%	0.1%	0.06%
	LUV	B	0.16%	0.02%	0.02%
	LVS	B	0.07%	0.04%	0.04%
	LW	D	0.01%	0.01%	0.01%
	LXP	D	0.01%	0.01%	0.01%
	LYB	B	0.22%	0.17%	0.17%
	LYV	A	0.04%	0.02%	0.02%
	M	D	0.04%	0.05%	0.04%
	MA	A	0.13%	0.17%	0.13%
	MAA	D	0.04%	0.05%	0.04%
	MAC	B	0.01%	0.02%	0.01%
	MAN	D	0.03%	0.03%	0.03%
	MAR	A	0.08%	0.05%	0.05%
	MAS	C	0.03%	0.03%	0.03%
	MAT	B	0.01%	0.02%	0.01%
	MC	B	0.01%	0.01%	0.01%
	MCD	A	0.16%	0.3%	0.16%
	MCHP	F	0.05%	0.06%	0.05%
	MCK	F	0.33%	0.37%	0.33%
	MCO	D	0.04%	0.06%	0.04%
	MDLZ	D	0.21%	0.21%	0.21%
	MDT	C	0.34%	0.37%	0.34%
	MDU	C	0.03%	0.03%	0.03%
	MET	A	0.43%	0.29%	0.29%
	META	A	1.8%	0.97%	0.97%
	MGM	D	0.05%	0.04%	0.04%
	MHK	C	0.07%	0.07%	0.07%
	MHO	C	0.02%	0.02%	0.02%
	MIDD	D	0.02%	0.02%	0.02%
	MKC	C	0.05%	0.05%	0.05%
	MKSI	F	0.01%	0.02%	0.01%
	MLI	B	0.03%	0.02%	0.02%
	MLKN	F	0.02%	0.01%	0.01%
	MLM	F	0.03%	0.04%	0.03%
	MMC	D	0.12%	0.14%	0.12%
	MMM	C	0.29%	0.44%	0.29%
	MMS	C	0.02%	0.02%	0.02%
	MNST	D	0.05%	0.03%	0.03%
	MO	D	0.34%	0.49%	0.34%
	MOH	F	0.04%	0.06%	0.04%
	MOS	F	0.08%	0.06%	0.06%
	MPC	D	0.49%	0.33%	0.33%
	MPW	C	0.03%	0.06%	0.03%
	MRK	F	0.37%	0.48%	0.37%
	MRNA	F	0.03%	0.07%	0.03%
	MRO	B	0.08%	0.07%	0.07%
	MS	A	0.5%	0.47%	0.47%
	MSCI	B	0.01%	0.02%	0.01%
	MSFT	D	1.47%	1.92%	1.47%
	MSI	A	0.04%	0.07%	0.04%
	MSM	D	0.02%	0.02%	0.02%
	MTB	A	0.15%	0.14%	0.14%
	MTCH	B	0.02%	0.02%	0.02%
	MTD	C	0.02%	0.02%	0.02%
	MTDR	D	0.02%	0.01%	0.01%
	MTG	A	0.03%	0.02%	0.02%
	MTH	C	0.02%	0.04%	0.02%
	MTN	D	0.01%	0.01%	0.01%
	MTZ	A	0.03%	0.04%	0.03%
	MU	D	0.14%	0.33%	0.14%
	MUR	F	0.04%	0.02%	0.02%
	MUSA	D	0.04%	0.03%	0.03%
	NAVI	D	0.01%	0.02%	0.01%
	NDAQ	C	0.07%	0.03%	0.03%
	NDSN	C	0.02%	0.02%	0.02%
	NEE	C	0.39%	0.44%	0.39%
	NEM	C	0.18%	0.21%	0.18%
	NFG	A	0.03%	0.02%	0.02%
	NFLX	A	0.17%	0.18%	0.17%
	NI	A	0.06%	0.06%	0.06%
	NJR	C	0.01%	0.02%	0.01%
	NKE	D	0.14%	0.15%	0.14%
	NNN	C	0.03%	0.02%	0.02%
	NOC	B	0.17%	0.18%	0.17%
	NOV	F	0.02%	0.02%	0.02%
	NOW	B	0.06%	0.03%	0.03%
	NRG	A	0.06%	0.11%	0.06%
	NSC	C	0.12%	0.13%	0.12%
	NSIT	B	0.02%	0.02%	0.02%
	NSP	F	0.01%	0.01%	0.01%
	NTAP	D	0.04%	0.06%	0.04%
	NTRS	B	0.07%	0.08%	0.07%
	NUE	D	0.12%	0.12%	0.12%
	NVDA	B	0.31%	0.22%	0.22%
	NVR	C	0.07%	0.05%	0.05%
	NVST	D	0.01%	0.02%	0.01%
	NVT	C	0.02%	0.02%	0.02%
	NWE	C	0.02%	0.02%	0.02%
	NWL	D	0.03%	0.04%	0.03%
	NWS	D	0.01%	0.01%	0.01%
	NWSA	D	0.03%	0.03%	0.03%
	NXPI	F	0.07%	0.09%	0.07%
	NXST	D	0.03%	0.03%	0.03%
	O	C	0.12%	0.11%	0.11%
	OC	C	0.04%	0.05%	0.04%
	ODFL	F	0.03%	0.02%	0.02%
	ODP	F	0.01%	0.01%	0.01%
	OGE	C	0.03%	0.04%	0.03%
	OGN	F	0.04%	0.04%	0.04%
	OGS	C	0.04%	0.02%	0.02%
	OHI	C	0.04%	0.03%	0.03%
	OI	D	0.02%	0.02%	0.02%
	OKE	A	0.12%	0.15%	0.12%
	OLN	D	0.02%	0.03%	0.02%
	OMC	C	0.07%	0.08%	0.07%
	OMI	F	0.01%	0.01%	0.01%
	ON	F	0.05%	0.04%	0.04%
	ONB	D	0.03%	0.02%	0.02%
	OPCH	F	0.01%	0.01%	0.01%
	ORCL	A	0.42%	0.3%	0.3%
	ORI	A	0.04%	0.06%	0.04%
	ORLY	A	0.07%	0.06%	0.06%
	OSK	F	0.02%	0.02%	0.02%
	OTIS	A	0.04%	0.06%	0.04%
	OUT	C	0.01%	0.02%	0.01%
	OVV	D	0.09%	0.04%	0.04%
	OXY	D	0.18%	0.13%	0.13%
	OZK	D	0.04%	0.02%	0.02%
	PAG	D	0.03%	0.02%	0.02%
	PARA	F	0.06%	0.12%	0.06%
	PARR	F	0.01%	0.01%	0.01%
	PAYX	B	0.06%	0.07%	0.06%
	PB	D	0.03%	0.03%	0.03%
	PBF	F	0.03%	0.04%	0.03%
	PCAR	D	0.11%	0.13%	0.11%
	PCG	C	0.12%	0.11%	0.11%
	PCH	C	0.01%	0.02%	0.01%
	PDCO	F	0.02%	0.01%	0.01%
	PECO	C	0.01%	0.01%	0.01%
	PEG	A	0.14%	0.16%	0.14%
	PENN	D	0.02%	0.03%	0.02%
	PEP	F	0.37%	0.51%	0.37%
	PFE	D	0.83%	0.88%	0.83%
	PFG	A	0.16%	0.1%	0.1%
	PFGC	A	0.11%	0.07%	0.07%
	PG	D	0.51%	0.75%	0.51%
	PGR	B	0.18%	0.25%	0.18%
	PH	A	0.09%	0.1%	0.09%
	PHIN	D	0.01%	0.02%	0.01%
	PHM	C	0.07%	0.08%	0.07%
	PII	D	0.02%	0.02%	0.02%
	PINC	F	0.01%	0.01%	0.01%
	PK	D	0.03%	0.02%	0.02%
	PKG	B	0.04%	0.06%	0.04%
	PLD	D	0.15%	0.17%	0.15%
	PLXS	A	0.01%	0.02%	0.01%
	PM	D	0.54%	0.64%	0.54%
	PMT	B	0.01%	0.01%	0.01%
	PNC	C	0.37%	0.33%	0.33%
	PNFP	B	0.02%	0.02%	0.02%
	PNM	B	0.02%	0.02%	0.02%
	PNR	C	0.02%	0.03%	0.02%
	PNW	C	0.05%	0.06%	0.05%
	POOL	D	0.01%	0.02%	0.01%
	POR	D	0.02%	0.02%	0.02%
	POST	C	0.03%	0.02%	0.02%
	PPBI	D	0.01%	0.01%	0.01%
	PPG	D	0.07%	0.07%	0.07%
	PPL	C	0.09%	0.14%	0.09%
	PRGO	F	0.02%	0.02%	0.02%
	PRI	A	0.02%	0.02%	0.02%
	PRU	B	0.38%	0.23%	0.23%
	PSA	C	0.07%	0.08%	0.07%
	PSX	D	0.49%	0.3%	0.3%
	PTC	B	0.02%	0.01%	0.01%
	PVH	D	0.02%	0.02%	0.02%
	PWR	A	0.04%	0.05%	0.04%
	PYPL	A	0.17%	0.19%	0.17%
	QCOM	D	0.23%	0.33%	0.23%
	QRVO	F	0.02%	0.03%	0.02%
	R	C	0.06%	0.06%	0.06%
	RCL	B	0.07%	0.04%	0.04%
	RDN	D	0.03%	0.02%	0.02%
	REG	C	0.04%	0.04%	0.04%
	REGN	D	0.14%	0.14%	0.14%
	REXR	D	0.02%	0.02%	0.02%
	REZI	D	0.01%	0.01%	0.01%
	RF	B	0.11%	0.11%	0.11%
	RGA	B	0.13%	0.06%	0.06%
	RGLD	C	0.01%	0.01%	0.01%
	RH	C	0.01%	0.02%	0.01%
	RHI	D	0.02%	0.02%	0.02%
	RJF	B	0.05%	0.05%	0.05%
	RL	B	0.03%	0.02%	0.02%
	RLI	A	0.01%	0.01%	0.01%
	RMD	C	0.03%	0.04%	0.03%
	RNR	A	0.06%	0.02%	0.02%
	ROK	D	0.04%	0.05%	0.04%
	ROP	D	0.05%	0.06%	0.05%
	ROST	D	0.06%	0.06%	0.06%
	RPM	A	0.02%	0.03%	0.02%
	RRC	D	0.03%	0.01%	0.01%
	RRX	B	0.02%	0.03%	0.02%
	RS	D	0.05%	0.05%	0.05%
	RSG	D	0.09%	0.06%	0.06%
	RTX	A	0.48%	0.49%	0.48%
	RUN	D	0.01%	0.02%	0.01%
	RUSHA	D	0.02%	0.01%	0.01%
	RVTY	C	0.02%	0.04%	0.02%
	RXO	D	0.01%	0.01%	0.01%
	RYN	C	0.01%	0.01%	0.01%
	SAIA	D	0.01%	0.01%	0.01%
	SAIC	A	0.02%	0.02%	0.02%
	SANM	D	0.03%	0.03%	0.03%
	SBAC	C	0.02%	0.02%	0.02%
	SBH	B	0.01%	0.01%	0.01%
	SBRA	C	0.02%	0.02%	0.02%
	SBUX	B	0.14%	0.18%	0.14%
	SCHW	D	0.21%	0.15%	0.15%
	SCI	D	0.02%	0.03%	0.02%
	SEDG	F	0.0%	0.0%	0.0%
	SEE	C	0.02%	0.02%	0.02%
	SEIC	B	0.01%	0.01%	0.01%
	SEM	D	0.02%	0.02%	0.02%
	SF	A	0.03%	0.03%	0.03%
	SFM	A	0.03%	0.04%	0.03%
	SFNC	B	0.02%	0.01%	0.01%
	SHW	C	0.06%	0.09%	0.06%
	SIG	C	0.02%	0.02%	0.02%
	SIGI	D	0.02%	0.01%	0.01%
	SJM	D	0.05%	0.05%	0.05%
	SKX	B	0.03%	0.03%	0.03%
	SLB	D	0.14%	0.13%	0.13%
	SLG	C	0.02%	0.04%	0.02%
	SLGN	B	0.02%	0.02%	0.02%
	SLM	B	0.02%	0.02%	0.02%
	SLVM	C	0.01%	0.02%	0.01%
	SM	D	0.02%	0.02%	0.02%
	SMG	C	0.01%	0.02%	0.01%
	SNA	C	0.03%	0.04%	0.03%
	SNPS	F	0.04%	0.03%	0.03%
	SNV	D	0.03%	0.03%	0.03%
	SNX	C	0.08%	0.04%	0.04%
	SO	A	0.32%	0.39%	0.32%
	SOLV	C	0.01%	0.06%	0.01%
	SON	D	0.03%	0.03%	0.03%
	SPG	A	0.06%	0.12%	0.06%
	SPGI	C	0.13%	0.18%	0.13%
	SR	D	0.02%	0.02%	0.02%
	SRCL	B	0.01%	0.02%	0.01%
	SRE	C	0.17%	0.18%	0.17%
	SSB	C	0.02%	0.02%	0.02%
	ST	F	0.02%	0.02%	0.02%
	STAG	D	0.02%	0.02%	0.02%
	STE	D	0.02%	0.03%	0.02%
	STLD	C	0.08%	0.07%	0.07%
	STT	A	0.13%	0.15%	0.13%
	STWD	C	0.06%	0.04%	0.04%
	STX	C	0.05%	0.08%	0.05%
	STZ	D	0.05%	0.07%	0.05%
	SWK	C	0.06%	0.09%	0.06%
	SWKS	F	0.04%	0.04%	0.04%
	SWX	C	0.02%	0.02%	0.02%
	SYF	A	0.17%	0.18%	0.17%
	SYK	C	0.09%	0.12%	0.09%
	SYY	D	0.12%	0.15%	0.12%
	T	B	1.41%	1.19%	1.19%
	TAP	D	0.09%	0.05%	0.05%
	TCBI	B	0.02%	0.02%	0.02%
	TDG	A	0.03%	0.08%	0.03%
	TDS	C	0.02%	0.04%	0.02%
	TDY	A	0.03%	0.04%	0.03%
	TER	C	0.02%	0.03%	0.02%
	TEX	F	0.01%	0.01%	0.01%
	TFC	D	0.49%	0.34%	0.34%
	TFX	C	0.02%	0.02%	0.02%
	TGNA	B	0.02%	0.02%	0.02%
	TGT	C	0.23%	0.3%	0.23%
	THC	D	0.06%	0.13%	0.06%
	THG	A	0.02%	0.02%	0.02%
	THO	C	0.03%	0.03%	0.03%
	THS	D	0.01%	0.02%	0.01%
	TJX	D	0.17%	0.19%	0.17%
	TKR	B	0.02%	0.02%	0.02%
	TMHC	C	0.04%	0.04%	0.04%
	TMO	D	0.18%	0.26%	0.18%
	TMUS	A	0.39%	0.29%	0.29%
	TNL	B	0.01%	0.02%	0.01%
	TOL	C	0.05%	0.05%	0.05%
	TPH	C	0.02%	0.03%	0.02%
	TPR	B	0.03%	0.03%	0.03%
	TPX	C	0.01%	0.01%	0.01%
	TRGP	A	0.07%	0.08%	0.07%
	TRMB	B	0.02%	0.02%	0.02%
	TRN	C	0.02%	0.02%	0.02%
	TROW	D	0.07%	0.09%	0.07%
	TRV	B	0.17%	0.22%	0.17%
	TSCO	A	0.04%	0.05%	0.04%
	TSLA	C	0.52%	0.32%	0.32%
	TSN	D	0.15%	0.15%	0.15%
	TT	A	0.08%	0.1%	0.08%
	TTC	F	0.01%	0.02%	0.01%
	TTMI	D	0.01%	0.01%	0.01%
	TTWO	D	0.02%	0.04%	0.02%
	TXN	C	0.24%	0.35%	0.24%
	TXRH	A	0.01%	0.01%	0.01%
	TXT	F	0.04%	0.05%	0.04%
	TYL	D	0.02%	0.02%	0.02%
	UA	B	0.01%	0.01%	0.01%
	UAA	B	0.01%	0.01%	0.01%
	UAL	A	0.16%	0.04%	0.04%
	UBER	C	0.09%	0.05%	0.05%
	UBSI	D	0.02%	0.02%	0.02%
	UCB	D	0.01%	0.01%	0.01%
	UDR	C	0.03%	0.04%	0.03%
	UFPI	C	0.02%	0.02%	0.02%
	UGI	C	0.05%	0.05%	0.05%
	UHS	D	0.05%	0.06%	0.05%
	ULTA	D	0.03%	0.03%	0.03%
	UMBF	C	0.02%	0.02%	0.02%
	UNFI	C	0.01%	0.01%	0.01%
	UNH	B	1.17%	1.07%	1.07%
	UNIT	B	0.01%	0.01%	0.01%
	UNM	A	0.09%	0.07%	0.07%
	UNP	F	0.24%	0.27%	0.24%
	UPS	D	0.37%	0.34%	0.34%
	URBN	F	0.02%	0.01%	0.01%
	URI	C	0.07%	0.11%	0.07%
	USB	C	0.35%	0.35%	0.35%
	USFD	C	0.08%	0.08%	0.08%
	UTHR	C	0.04%	0.04%	0.04%
	UVV	D	0.01%	0.01%	0.01%
	V	B	0.41%	0.23%	0.23%
	VAC	D	0.01%	0.01%	0.01%
	VFC	A	0.06%	0.07%	0.06%
	VICI	C	0.1%	0.08%	0.08%
	VLO	F	0.39%	0.33%	0.33%
	VLTO	A	0.02%	0.02%	0.02%
	VLY	C	0.03%	0.02%	0.02%
	VMC	D	0.03%	0.04%	0.03%
	VMI	B	0.01%	0.02%	0.01%
	VNO	B	0.06%	0.06%	0.06%
	VNT	F	0.01%	0.01%	0.01%
	VOYA	A	0.04%	0.03%	0.03%
	VRSK	D	0.01%	0.03%	0.01%
	VRTX	D	0.11%	0.08%	0.08%
	VSAT	F	0.01%	0.01%	0.01%
	VSCO	C	0.02%	0.02%	0.02%
	VSH	F	0.01%	0.01%	0.01%
	VST	A	0.09%	0.13%	0.09%
	VSTS	D	0.02%	0.01%	0.01%
	VTR	C	0.08%	0.11%	0.08%
	VTRS	D	0.12%	0.09%	0.09%
	VYX	C	0.02%	0.01%	0.01%
	VZ	C	1.69%	1.34%	1.34%
	WAB	A	0.04%	0.06%	0.04%
	WAT	B	0.02%	0.02%	0.02%
	WBA	F	0.05%	0.12%	0.05%
	WBD	F	0.16%	0.14%	0.14%
	WBS	D	0.03%	0.03%	0.03%
	WCC	D	0.04%	0.05%	0.04%
	WDC	C	0.05%	0.11%	0.05%
	WEC	B	0.1%	0.11%	0.1%
	WELL	C	0.12%	0.16%	0.12%
	WERN	D	0.01%	0.01%	0.01%
	WEX	C	0.01%	0.01%	0.01%
	WFC	B	0.96%	1.03%	0.96%
	WH	C	0.01%	0.01%	0.01%
	WHR	C	0.05%	0.06%	0.05%
	WKC	A	0.02%	0.02%	0.02%
	WLK	C	0.04%	0.02%	0.02%
	WM	B	0.09%	0.12%	0.09%
	WMB	A	0.16%	0.2%	0.16%
	WMT	A	1.81%	1.14%	1.14%
	WPC	C	0.05%	0.04%	0.04%
	WRB	C	0.05%	0.04%	0.04%
	WSM	C	0.03%	0.04%	0.03%
	WSO	C	0.03%	0.03%	0.03%
	WST	D	0.01%	0.01%	0.01%
	WTFC	B	0.02%	0.02%	0.02%
	WTRG	D	0.03%	0.03%	0.03%
	WTW	C	0.07%	0.07%	0.07%
	WU	D	0.04%	0.03%	0.03%
	WWD	C	0.02%	0.02%	0.02%
	WY	C	0.07%	0.1%	0.07%
	WYNN	B	0.02%	0.02%	0.02%
	X	F	0.07%	0.05%	0.05%
	XEL	C	0.14%	0.14%	0.14%
	XOM	A	2.06%	2.23%	2.06%
	XPO	F	0.03%	0.02%	0.02%
	XRAY	D	0.01%	0.01%	0.01%
	XRX	D	0.01%	0.02%	0.01%
	XYL	C	0.03%	0.03%	0.03%
	YUM	C	0.03%	0.05%	0.03%
	ZBH	F	0.05%	0.05%	0.05%
	ZBRA	B	0.02%	0.04%	0.02%
	ZION	D	0.06%	0.04%	0.04%
	ZTS	C	0.05%	0.06%	0.05%

VLU Overweight 541 Positions Relative to PRF

	Symbol	Grade	Weight
	KVUE	C	0.22%
	SW	C	0.21%
	PANW	B	0.06%
	AMCR	C	0.06%
	IBKR	A	0.05%
	ALK	C	0.05%
	TKO	A	0.04%
	ROIV	D	0.04%
	SATS	C	0.03%
	CNK	D	0.03%
	NCLH	C	0.03%
	CALM	A	0.03%
	PR	D	0.03%
	NOG	D	0.03%
	COKE	C	0.03%
	IIPR	C	0.02%
	LBRT	D	0.02%
	COLM	B	0.02%
	VVV	D	0.02%
	GBX	C	0.02%
	GNL	D	0.02%
	KAR	F	0.02%
	MOG.A	C	0.02%
	TTEK	A	0.02%
	BHE	C	0.02%
	NATL	D	0.02%
	BANC	D	0.02%
	COTY	F	0.02%
	RNST	D	0.02%
	SKYW	B	0.02%
	BANR	B	0.02%
	PRG	C	0.02%
	BANF	D	0.02%
	WFRD	F	0.02%
	CROX	C	0.02%
	PPC	C	0.02%
	VGR	B	0.02%
	IBOC	D	0.02%
	MATX	C	0.02%
	IBTX	B	0.02%
	ENVA	B	0.02%
	WAFD	D	0.02%
	PFS	D	0.02%
	SNEX	B	0.02%
	CRS	B	0.02%
	JBLU	B	0.02%
	ERIE	A	0.02%
	H	B	0.02%
	CWEN	C	0.02%
	VRSN	C	0.02%
	CEIX	B	0.02%
	IPAR	D	0.01%
	AEIS	B	0.01%
	MSA	F	0.01%
	BFS	C	0.01%
	GES	F	0.01%
	MSGS	A	0.01%
	GDOT	C	0.01%
	MCRI	B	0.01%
	CVLT	B	0.01%
	APOG	B	0.01%
	NGVT	D	0.01%
	GO	F	0.01%
	MYRG	D	0.01%
	KREF	C	0.01%
	BRKR	D	0.01%
	EZPW	C	0.01%
	SCL	D	0.01%
	HCSG	F	0.01%
	CHCO	D	0.01%
	HAE	F	0.01%
	MMI	D	0.01%
	AAT	C	0.01%
	MYGN	D	0.01%
	SAFT	D	0.01%
	VIR	F	0.01%
	CHH	A	0.01%
	XHR	A	0.01%
	AWR	B	0.01%
	CAL	F	0.01%
	AZZ	B	0.01%
	JBT	B	0.01%
	RDNT	C	0.01%
	CHE	D	0.01%
	ALGT	D	0.01%
	ZD	D	0.01%
	MRCY	B	0.01%
	AMWD	C	0.01%
	MP	C	0.01%
	WRLD	F	0.01%
	CHEF	C	0.01%
	AIN	F	0.01%
	LGND	C	0.01%
	FWRD	D	0.01%
	EFC	D	0.01%
	FORM	D	0.01%
	ESE	C	0.01%
	PAYC	D	0.01%
	TDC	D	0.01%
	DNOW	F	0.01%
	NVRI	D	0.01%
	EPC	F	0.01%
	FIZZ	F	0.01%
	RES	C	0.01%
	STRA	F	0.01%
	GFF	C	0.01%
	SMPL	D	0.01%
	CFFN	D	0.01%
	HQY	B	0.01%
	SBCF	D	0.01%
	PLAB	D	0.01%
	CWT	D	0.01%
	TMP	C	0.01%
	UCTT	D	0.01%
	RCM	B	0.01%
	SYNA	F	0.01%
	HWKN	B	0.01%
	PCTY	C	0.01%
	GTY	C	0.01%
	CPK	C	0.01%
	MODG	F	0.01%
	FSS	D	0.01%
	NHC	D	0.01%
	YELP	D	0.01%
	BKE	B	0.01%
	CASH	C	0.01%
	INN	A	0.01%
	MEDP	F	0.01%
	ELME	D	0.01%
	KN	B	0.01%
	AWI	A	0.01%
	CORT	B	0.01%
	EIG	A	0.01%
	HXL	F	0.01%
	OLED	B	0.01%
	HLX	C	0.01%
	RGEN	F	0.01%
	MMSI	C	0.01%
	AVNS	D	0.01%
	SKT	A	0.01%
	VRE	C	0.01%
	CVI	D	0.01%
	CARG	C	0.01%
	SVC	D	0.01%
	KALU	D	0.01%
	KWR	F	0.01%
	SCHL	F	0.01%
	EXP	C	0.01%
	SHO	B	0.01%
	EGBN	C	0.01%
	JJSF	C	0.01%
	BRBR	A	0.01%
	VTLE	F	0.01%
	HI	F	0.01%
	ENR	B	0.01%
	MORN	B	0.01%
	SXC	F	0.01%
	NOVT	C	0.01%
	B	A	0.01%
	NBR	D	0.01%
	MGEE	C	0.01%
	HAIN	C	0.01%
	AMED	D	0.01%
	TBBK	A	0.01%
	LANC	F	0.01%
	ASIX	A	0.01%
	OSIS	C	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%
	OII	D	0.01%
	HALO	D	0.01%
	VC	F	0.01%
	EXLS	B	0.01%
	PJT	A	0.01%
	DAY	C	0.01%
	ALKS	B	0.01%
	IOSP	F	0.01%
	OMCL	C	0.01%
	PLUS	B	0.01%
	MASI	B	0.01%
	MNRO	B	0.01%
	CVCO	C	0.01%
	DORM	C	0.01%
	ROIC	C	0.01%
	STC	D	0.01%
	BRKL	D	0.01%
	FTDR	B	0.01%
	WEN	B	0.01%
	IPGP	D	0.01%
	MTSI	B	0.01%
	MATV	F	0.01%
	BCPC	C	0.01%
	DLX	F	0.01%
	AHCO	D	0.01%
	BLMN	F	0.01%
	FBK	B	0.01%
	UE	C	0.01%
	KELYA	D	0.01%
	LTC	D	0.01%
	PUMP	D	0.01%
	AROC	B	0.01%
	WD	C	0.01%
	SFBS	B	0.01%
	HMN	B	0.01%
	HASI	B	0.01%
	NBIX	F	0.01%
	IBP	C	0.01%
	SCVL	D	0.01%
	SPTN	C	0.01%
	OFG	D	0.01%
	FCF	D	0.01%
	DCOM	B	0.01%
	ETSY	F	0.01%
	AVAV	B	0.01%
	CWEN	C	0.01%
	WGO	D	0.01%
	VSTO	B	0.01%
	DOCS	A	0.01%
	ORA	C	0.01%
	ANF	D	0.01%
	HGV	F	0.01%
	CENTA	F	0.01%
	MTX	C	0.01%
	SSD	B	0.01%
	RWT	C	0.01%
	UNF	A	0.01%
	SXT	C	0.01%
	OTTR	F	0.01%
	ITGR	B	0.01%
	AKR	B	0.01%
	DT	B	0.01%
	PODD	C	0.01%
	BOOT	B	0.01%
	SBSI	D	0.01%
	BOH	D	0.01%
	NPO	C	0.01%
	INVA	B	0.01%
	EXPI	C	0.01%
	PIPR	A	0.01%
	PRK	D	0.01%
	CHX	C	0.01%
	SAH	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%
	WSFS	D	0.01%
	IDCC	A	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	F	0.01%
	DLB	D	0.01%
	WMS	D	0.01%
	FIX	A	0.01%
	MD	B	0.01%
	CNXN	C	0.01%
	SHC	C	0.01%
	NEU	F	0.01%
	BRC	C	0.01%
	SCSC	D	0.01%
	ROL	C	0.01%
	FFIN	D	0.01%
	LRN	D	0.01%
	LZB	D	0.01%
	ITRI	C	0.01%
	NMIH	B	0.01%
	NYT	C	0.01%
	BGC	B	0.01%
	MKTX	B	0.01%
	PSTG	F	0.01%
	FN	B	0.01%
	LPG	F	0.01%
	CTRE	C	0.01%
	ECPG	F	0.01%
	PBI	C	0.01%
	OLLI	C	0.01%
	TRMK	D	0.01%
	KW	C	0.01%
	RBC	C	0.01%
	VAL	F	0.01%
	FHI	A	0.01%
	FDP	C	0.01%
	KFY	C	0.01%
	PATK	A	0.01%
	NSA	D	0.01%
	CBU	D	0.01%
	RC	F	0.01%
	WWW	B	0.01%
	BDC	A	0.01%
	SABR	C	0.01%
	PSMT	A	0.01%
	CCOI	B	0.01%
	ACIW	A	0.01%
	GIII	C	0.01%
	DEA	D	0.01%
	AX	D	0.01%
	AXON	A	0.01%
	WOR	F	0.01%
	ACA	C	0.01%
	PTEN	F	0.01%
	FBP	B	0.01%
	UPBD	F	0.01%
	NWN	D	0.01%
	HNI	B	0.01%
	ATGE	D	0.01%
	HLI	A	0.01%
	CHDN	C	0.01%
	TALO	D	0.01%
	EPRT	C	0.01%
	VBTX	C	0.01%
	ENPH	F	0.01%
	CVBF	B	0.01%
	MPWR	B	0.01%
	GRBK	C	0.01%
	GMED	B	0.01%
	EAT	A	0.01%
	CRUS	D	0.01%
	DBX	C	0.01%
	HOPE	B	0.01%
	HTH	F	0.01%
	ICUI	B	0.01%
	KTB	C	0.01%
	FICO	C	0.01%
	PEB	D	0.01%
	NWBI	D	0.01%
	SPNT	D	0.01%
	MCY	B	0.01%
	MGY	B	0.01%
	AORT	B	0.0%
	VICR	C	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	D	0.0%
	EMBC	F	0.0%
	PGNY	F	0.0%
	SNCY	F	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	A	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	D	0.0%
	BJRI	B	0.0%
	NXRT	D	0.0%
	JBSS	F	0.0%
	MYE	F	0.0%
	PAYO	A	0.0%
	GKOS	B	0.0%
	DGII	B	0.0%
	WT	D	0.0%
	TRUP	B	0.0%
	DV	F	0.0%
	CARS	F	0.0%
	ASTE	F	0.0%
	PRLB	F	0.0%
	EPAC	A	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	D	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	B	0.0%
	USNA	F	0.0%
	SLAB	D	0.0%
	GPRE	F	0.0%
	JACK	F	0.0%
	HSII	D	0.0%
	SONO	F	0.0%
	RGR	F	0.0%
	THRM	F	0.0%
	THRY	F	0.0%
	TNC	F	0.0%
	COLL	A	0.0%
	PZZA	D	0.0%
	LNN	C	0.0%
	VECO	F	0.0%
	MTUS	F	0.0%
	EXTR	D	0.0%
	ALG	F	0.0%
	POWI	F	0.0%
	SPSC	D	0.0%
	HRMY	D	0.0%
	YETI	C	0.0%
	WING	C	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	B	0.0%
	WNC	F	0.0%
	CNMD	F	0.0%
	CSGS	B	0.0%
	SJW	D	0.0%
	AMSF	B	0.0%
	RAMP	F	0.0%
	IRDM	C	0.0%
	USPH	F	0.0%
	EYE	F	0.0%
	AMPH	C	0.0%
	VIAV	C	0.0%
	RMBS	F	0.0%
	UFPT	D	0.0%
	BLKB	C	0.0%
	RCUS	D	0.0%
	LIVN	C	0.0%
	NX	F	0.0%
	DXPE	C	0.0%
	TILE	C	0.0%
	DFIN	B	0.0%
	REX	D	0.0%
	SMP	D	0.0%
	MGPI	F	0.0%
	OXM	F	0.0%
	NVEE	F	0.0%
	LSCC	D	0.0%
	CXT	F	0.0%
	PLMR	A	0.0%
	IART	F	0.0%
	FTRE	F	0.0%
	NEO	F	0.0%
	CLW	F	0.0%
	DVAX	F	0.0%
	PRFT	A	0.0%
	LKFN	D	0.0%
	FLGT	F	0.0%
	HAYN	B	0.0%
	PLNT	B	0.0%
	JOE	D	0.0%
	BOX	C	0.0%
	UHT	D	0.0%
	CALX	C	0.0%
	TFIN	F	0.0%
	PLAY	D	0.0%
	FBRT	C	0.0%
	MRTN	F	0.0%
	AIR	C	0.0%
	AZTA	F	0.0%
	MANH	A	0.0%
	HFWA	D	0.0%
	HAYW	C	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	C	0.0%
	ENV	C	0.0%
	EXPO	A	0.0%
	CENX	C	0.0%
	TRIP	D	0.0%
	AOSL	D	0.0%
	HAFC	D	0.0%
	TR	D	0.0%
	PRGS	A	0.0%
	HLIT	D	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	C	0.0%
	QNST	C	0.0%
	NEOG	F	0.0%
	ASTH	B	0.0%
	ACLS	F	0.0%
	PFBC	D	0.0%
	TRST	D	0.0%
	CSR	D	0.0%
	PRDO	D	0.0%
	TWI	F	0.0%
	UTL	D	0.0%
	FBNC	B	0.0%
	PRA	C	0.0%
	UFCS	D	0.0%
	VRTS	D	0.0%
	POWL	B	0.0%
	ADUS	D	0.0%
	VRRM	D	0.0%
	SHAK	A	0.0%
	FOXF	F	0.0%
	CUBI	F	0.0%
	ROCK	D	0.0%
	ALEX	D	0.0%
	NBHC	D	0.0%
	TECH	D	0.0%

VLU Underweight 99 Positions Relative to PRF

	Symbol	Grade	Weight
	ZIM	D	-0.13%
	KKR	A	-0.11%
	AER	C	-0.09%
	MKL	B	-0.08%
	GEV	A	-0.08%
	FLEX	B	-0.07%
	ACI	F	-0.07%
	CRBG	B	-0.06%
	CNH	C	-0.06%
	SQ	D	-0.06%
	LNG	A	-0.06%
	OMF	D	-0.05%
	BAP	A	-0.05%
	SWN	D	-0.05%
	MRVL	C	-0.05%
	APO	A	-0.04%
	SSNC	C	-0.04%
	ICLR	F	-0.04%
	SUI	D	-0.04%
	AVTR	D	-0.04%
	CCEP	C	-0.04%
	HOOD	B	-0.03%
	DOX	B	-0.03%
	SPOT	C	-0.03%
	RIG	F	-0.03%
	ELAN	D	-0.03%
	AGNC	B	-0.03%
	FCNCA	D	-0.03%
	CPNG	C	-0.03%
	AXS	A	-0.03%
	BAH	C	-0.03%
	HUN	B	-0.03%
	BPOP	D	-0.03%
	TRU	C	-0.03%
	TWLO	B	-0.03%
	WAL	C	-0.03%
	CSTM	F	-0.02%
	W	C	-0.02%
	DK	F	-0.02%
	HLF	F	-0.02%
	COIN	F	-0.02%
	VRT	B	-0.02%
	IAC	C	-0.02%
	RIVN	F	-0.02%
	AGR	C	-0.02%
	RPRX	D	-0.02%
	CHKP	A	-0.02%
	MELI	D	-0.02%
	UHAL	C	-0.02%
	COLD	D	-0.02%
	DASH	A	-0.02%
	ALSN	A	-0.02%
	SCCO	B	-0.02%
	FTI	B	-0.02%
	LPLA	D	-0.02%
	ZM	B	-0.02%
	LBRDK	C	-0.02%
	BECN	D	-0.02%
	SMCI	F	-0.01%
	NUS	F	-0.01%
	ZG	C	-0.01%
	HEI	C	-0.01%
	SNOW	F	-0.01%
	XP	F	-0.01%
	STNE	F	-0.01%
	WSC	D	-0.01%
	GTN	D	-0.01%
	OPEN	F	-0.01%
	ATKR	F	-0.01%
	HEI	C	-0.01%
	IGT	F	-0.01%
	RLJ	D	-0.01%
	CLVT	D	-0.01%
	BXC	D	-0.01%
	JELD	D	-0.01%
	SITE	D	-0.01%
	TROX	D	-0.01%
	OKTA	F	-0.01%
	BMRN	F	-0.01%
	BOKF	B	-0.01%
	FIBK	C	-0.01%
	ENTG	D	-0.01%
	SPB	C	-0.01%
	ALIT	D	-0.01%
	ESI	C	-0.01%
	PFSI	C	-0.01%
	HRI	B	-0.01%
	SOFI	C	-0.01%
	APG	F	-0.01%
	WDAY	D	-0.01%
	VEEV	C	-0.01%
	NOMD	D	-0.01%
	Z	C	-0.01%
	ARES	A	-0.01%
	ESGR	C	-0.01%
	HE	F	-0.01%
	GRAB	C	-0.01%
	UHAL	C	-0.0%
	LBRDA	C	-0.0%

VLU: Top Represented Industries & Keywords

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

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

PRF: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Oil & Gas E&P Utilities - Regulated Electric Software - Application Asset Management Business Services Specialty Retail REIT - Diversified Specialty Chemicals Semiconductors Information Technology Services Packaged Foods Diagnostics & Research Building Materials Credit Services Insurance - Property & Casualty Capital Markets Packaging & Containers REIT - Residential

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