VLU vs. RWJ ETF Comparison

Comparison of SPDR S&P 1500 Value Tilt ETF (VLU) to RevenueShares Small Cap (RWJ)

VLU

SPDR S&P 1500 Value Tilt ETF

VLU Description

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

Grade (RS Rating)

Last Trade

$189.56

Average Daily Volume

7,982

Number of Holdings ^*

1418

* may have additional holdings in another (foreign) market

RWJ

RevenueShares Small Cap

RWJ Description

The investment seeks outperform the total return performance of the S&P SmallCap 600® Index, the fund's benchmark index. The fund seeks to achieve its investment objective by attempting to replicate the portfolio of the RevenueShares Small Cap IndexTM (the "underlying index"). The underlying index is constructed by re-weighting the constituent securities of the benchmark index according to the revenue earned by the companies in the benchmark index, subject to certain asset diversification requirements. The fund will invest at least 80% of its net assets in the securities of small capitalization companies included in the benchmark index.

Grade (RS Rating)

Last Trade

$46.86

Average Daily Volume

106,018

Number of Holdings ^*

581

* may have additional holdings in another (foreign) market

Performance

Period	VLU	RWJ
30 Days	1.16%	1.03%
60 Days	4.94%	5.49%
90 Days	7.27%	7.37%
12 Months	29.99%	31.15%

549 Overlapping Holdings

	Symbol	Grade	Weight in VLU	Weight in RWJ	Overlap
	AAP	D	0.02%	0.78%	0.02%
	AAT	C	0.01%	0.03%	0.01%
	ABCB	A	0.02%	0.12%	0.02%
	ABG	A	0.04%	1.33%	0.04%
	ABM	B	0.03%	0.64%	0.03%
	ABR	C	0.02%	0.11%	0.02%
	ACA	B	0.01%	0.2%	0.01%
	ACIW	B	0.01%	0.12%	0.01%
	ACLS	F	0.0%	0.06%	0.0%
	ADNT	F	0.02%	1.07%	0.02%
	ADUS	D	0.0%	0.07%	0.0%
	AEIS	B	0.01%	0.12%	0.01%
	AEO	F	0.01%	0.35%	0.01%
	AGO	A	0.02%	0.07%	0.02%
	AGYS	A	0.0%	0.02%	0.0%
	AHCO	D	0.01%	0.22%	0.01%
	AHH	D	0.0%	0.05%	0.0%
	AIN	C	0.01%	0.08%	0.01%
	AIR	B	0.0%	0.16%	0.0%
	AKR	B	0.01%	0.03%	0.01%
	AL	A	0.04%	0.2%	0.04%
	ALEX	B	0.0%	0.01%	0.0%
	ALG	B	0.0%	0.13%	0.0%
	ALGT	A	0.01%	0.32%	0.01%
	ALK	A	0.05%	0.92%	0.05%
	ALKS	B	0.01%	0.11%	0.01%
	ALRM	C	0.0%	0.07%	0.0%
	AMBC	C	0.0%	0.03%	0.0%
	AMN	F	0.01%	0.12%	0.01%
	AMPH	F	0.0%	0.05%	0.0%
	AMR	C	0.01%	0.27%	0.01%
	AMSF	A	0.0%	0.03%	0.0%
	AMWD	B	0.01%	0.14%	0.01%
	ANDE	C	0.01%	0.85%	0.01%
	AORT	B	0.0%	0.03%	0.0%
	AOSL	F	0.0%	0.03%	0.0%
	APAM	A	0.01%	0.09%	0.01%
	APLE	B	0.03%	0.11%	0.03%
	APOG	B	0.01%	0.12%	0.01%
	ARCB	C	0.01%	0.33%	0.01%
	ARCH	B	0.03%	0.26%	0.03%
	ARI	D	0.01%	0.06%	0.01%
	AROC	A	0.01%	0.09%	0.01%
	ASIX	B	0.01%	0.11%	0.01%
	ASO	F	0.01%	0.36%	0.01%
	ASTE	B	0.0%	0.11%	0.0%
	ASTH	F	0.0%	0.09%	0.0%
	ATGE	B	0.02%	0.14%	0.02%
	ATI	D	0.02%	0.28%	0.02%
	AUB	A	0.02%	0.09%	0.02%
	AVA	C	0.01%	0.13%	0.01%
	AVAV	C	0.01%	0.06%	0.01%
	AVNS	F	0.01%	0.04%	0.01%
	AWI	A	0.01%	0.11%	0.01%
	AWR	A	0.01%	0.04%	0.01%
	AX	A	0.02%	0.16%	0.02%
	AXL	C	0.01%	0.49%	0.01%
	AZZ	B	0.01%	0.12%	0.01%
	B	A	0.01%	0.13%	0.01%
	BANC	A	0.02%	0.09%	0.02%
	BANF	A	0.02%	0.07%	0.02%
	BANR	A	0.02%	0.07%	0.02%
	BCC	B	0.02%	0.51%	0.02%
	BCPC	B	0.01%	0.07%	0.01%
	BDN	D	0.01%	0.03%	0.01%
	BFH	A	0.03%	0.4%	0.03%
	BFS	C	0.0%	0.02%	0.0%
	BGC	B	0.01%	0.16%	0.01%
	BGS	F	0.0%	0.1%	0.0%
	BHE	B	0.02%	0.22%	0.02%
	BHLB	A	0.01%	0.05%	0.01%
	BJRI	A	0.0%	0.11%	0.0%
	BKE	A	0.01%	0.09%	0.01%
	BKU	A	0.03%	0.16%	0.03%
	BLMN	F	0.01%	0.26%	0.01%
	BMI	B	0.0%	0.06%	0.0%
	BOH	A	0.01%	0.09%	0.01%
	BOOT	C	0.01%	0.1%	0.01%
	BOX	B	0.0%	0.08%	0.0%
	BRC	C	0.01%	0.1%	0.01%
	BRKL	A	0.01%	0.06%	0.01%
	BSIG	A	0.0%	0.04%	0.0%
	BTU	B	0.03%	0.38%	0.03%
	BXMT	D	0.03%	0.13%	0.03%
	CABO	B	0.02%	0.14%	0.02%
	CAKE	A	0.01%	0.32%	0.01%
	CAL	D	0.0%	0.2%	0.0%
	CALM	A	0.03%	0.21%	0.03%
	CALX	F	0.0%	0.06%	0.0%
	CARG	A	0.01%	0.08%	0.01%
	CARS	B	0.0%	0.05%	0.0%
	CASH	A	0.01%	0.07%	0.01%
	CATY	A	0.03%	0.12%	0.03%
	CBRL	C	0.01%	0.27%	0.01%
	CBU	A	0.01%	0.07%	0.01%
	CCOI	B	0.01%	0.08%	0.01%
	CCS	F	0.01%	0.23%	0.01%
	CEIX	A	0.03%	0.21%	0.03%
	CENT	C	0.0%	0.11%	0.0%
	CENTA	C	0.01%	0.11%	0.01%
	CENX	A	0.01%	0.23%	0.01%
	CERT	F	0.0%	0.02%	0.0%
	CEVA	B	0.0%	0.01%	0.0%
	CFFN	A	0.01%	0.03%	0.01%
	CHCO	A	0.01%	0.03%	0.01%
	CHEF	B	0.01%	0.26%	0.01%
	CLB	C	0.0%	0.04%	0.0%
	CMA	A	0.08%	0.44%	0.08%
	CNK	A	0.03%	0.22%	0.03%
	CNMD	C	0.0%	0.09%	0.0%
	CNSL	A	0.0%	0.08%	0.0%
	CNXN	D	0.01%	0.19%	0.01%
	COHU	D	0.0%	0.04%	0.0%
	COLL	F	0.0%	0.03%	0.0%
	COOP	B	0.05%	0.15%	0.05%
	CORT	B	0.01%	0.06%	0.01%
	CPF	A	0.01%	0.03%	0.01%
	CPK	A	0.01%	0.05%	0.01%
	CPRX	C	0.0%	0.03%	0.0%
	CRC	B	0.02%	0.19%	0.02%
	CRK	A	0.01%	0.13%	0.01%
	CRS	A	0.02%	0.24%	0.02%
	CRSR	C	0.0%	0.11%	0.0%
	CRVL	B	0.0%	0.07%	0.0%
	CSGS	A	0.0%	0.1%	0.0%
	CSR	A	0.0%	0.02%	0.0%
	CTRE	D	0.01%	0.02%	0.01%
	CTS	B	0.0%	0.04%	0.0%
	CUBI	B	0.01%	0.12%	0.01%
	CVBF	A	0.02%	0.06%	0.02%
	CVCO	A	0.01%	0.14%	0.01%
	CVI	D	0.0%	0.51%	0.0%
	CWEN	D	0.02%	0.05%	0.02%
	CWEN	D	0.02%	0.05%	0.02%
	CWEN	D	0.01%	0.05%	0.01%
	CWEN	D	0.01%	0.05%	0.01%
	CWK	B	0.03%	0.7%	0.03%
	CWT	C	0.01%	0.06%	0.01%
	CXW	B	0.02%	0.22%	0.02%
	DAN	F	0.01%	0.65%	0.01%
	DCOM	A	0.01%	0.06%	0.01%
	DEA	D	0.01%	0.02%	0.01%
	DEI	B	0.03%	0.08%	0.03%
	DFIN	D	0.0%	0.05%	0.0%
	DGII	B	0.0%	0.04%	0.0%
	DIOD	F	0.01%	0.08%	0.01%
	DLX	A	0.01%	0.18%	0.01%
	DNOW	A	0.01%	0.2%	0.01%
	DORM	B	0.01%	0.16%	0.01%
	DRH	B	0.01%	0.08%	0.01%
	DV	C	0.0%	0.05%	0.0%
	DVAX	C	0.0%	0.02%	0.0%
	DXC	C	0.03%	0.99%	0.03%
	DXPE	A	0.0%	0.16%	0.0%
	DY	C	0.01%	0.31%	0.01%
	EAT	A	0.02%	0.52%	0.02%
	ECPG	A	0.01%	0.09%	0.01%
	EFC	D	0.01%	0.03%	0.01%
	EGBN	A	0.01%	0.06%	0.01%
	EIG	A	0.01%	0.07%	0.01%
	ELME	D	0.01%	0.02%	0.01%
	EMBC	C	0.0%	0.07%	0.0%
	ENR	A	0.01%	0.23%	0.01%
	ENV	B	0.0%	0.09%	0.0%
	ENVA	A	0.02%	0.21%	0.02%
	EPAC	B	0.0%	0.05%	0.0%
	EPC	F	0.01%	0.15%	0.01%
	EPRT	C	0.01%	0.03%	0.01%
	ESE	A	0.01%	0.08%	0.01%
	ETD	D	0.0%	0.04%	0.0%
	ETSY	D	0.01%	0.19%	0.01%
	EVTC	C	0.0%	0.06%	0.0%
	EXPI	C	0.01%	0.3%	0.01%
	EXTR	B	0.0%	0.09%	0.0%
	EYE	C	0.0%	0.14%	0.0%
	EZPW	A	0.01%	0.08%	0.01%
	FBK	A	0.01%	0.06%	0.01%
	FBNC	A	0.01%	0.04%	0.01%
	FBP	A	0.01%	0.09%	0.01%
	FBRT	C	0.0%	0.04%	0.0%
	FCF	A	0.01%	0.05%	0.01%
	FCPT	C	0.01%	0.02%	0.01%
	FDP	A	0.01%	0.35%	0.01%
	FELE	B	0.01%	0.16%	0.01%
	FFBC	A	0.02%	0.09%	0.02%
	FHB	A	0.02%	0.1%	0.02%
	FIZZ	B	0.01%	0.09%	0.01%
	FL	F	0.02%	0.51%	0.02%
	FLGT	F	0.0%	0.02%	0.0%
	FORM	F	0.01%	0.04%	0.01%
	FOXF	F	0.0%	0.08%	0.0%
	FSS	C	0.01%	0.13%	0.01%
	FTDR	B	0.01%	0.15%	0.01%
	FTRE	D	0.0%	0.2%	0.0%
	FUL	F	0.01%	0.23%	0.01%
	FULT	A	0.02%	0.13%	0.02%
	FWRD	D	0.01%	0.14%	0.01%
	GBX	A	0.02%	0.34%	0.02%
	GDEN	B	0.0%	0.06%	0.0%
	GDOT	C	0.01%	0.11%	0.01%
	GEO	A	0.03%	0.34%	0.03%
	GES	F	0.0%	0.18%	0.0%
	GFF	A	0.01%	0.22%	0.01%
	GIII	D	0.01%	0.22%	0.01%
	GKOS	B	0.0%	0.03%	0.0%
	GMS	A	0.01%	0.46%	0.01%
	GNL	D	0.01%	0.04%	0.01%
	GNW	A	0.03%	0.52%	0.03%
	GO	C	0.0%	0.34%	0.0%
	GOGO	C	0.0%	0.03%	0.0%
	GPI	A	0.04%	1.47%	0.04%
	GPRE	F	0.0%	0.17%	0.0%
	GRBK	D	0.01%	0.12%	0.01%
	GTY	C	0.01%	0.01%	0.01%
	GVA	A	0.01%	0.34%	0.01%
	HAFC	A	0.01%	0.04%	0.01%
	HAIN	F	0.01%	0.1%	0.01%
	HASI	F	0.01%	0.02%	0.01%
	HAYN	A	0.0%	0.04%	0.0%
	HAYW	A	0.0%	0.08%	0.0%
	HBI	A	0.03%	0.41%	0.03%
	HCC	B	0.04%	0.14%	0.04%
	HCI	B	0.0%	0.05%	0.0%
	HCSG	B	0.01%	0.13%	0.01%
	HELE	C	0.0%	0.15%	0.0%
	HFWA	A	0.01%	0.03%	0.01%
	HI	C	0.01%	0.24%	0.01%
	HIW	D	0.03%	0.06%	0.03%
	HLIT	F	0.0%	0.04%	0.0%
	HLX	D	0.01%	0.11%	0.01%
	HMN	A	0.01%	0.13%	0.01%
	HNI	A	0.01%	0.2%	0.01%
	HOPE	A	0.01%	0.08%	0.01%
	HP	C	0.03%	0.23%	0.03%
	HPP	F	0.01%	0.05%	0.01%
	HRMY	D	0.0%	0.04%	0.0%
	HSII	B	0.0%	0.09%	0.0%
	HTH	B	0.01%	0.11%	0.01%
	HTLD	B	0.0%	0.08%	0.0%
	HTZ	C	0.0%	0.83%	0.0%
	HUBG	A	0.01%	0.31%	0.01%
	HWKN	C	0.01%	0.07%	0.01%
	HZO	F	0.0%	0.16%	0.0%
	IART	C	0.01%	0.14%	0.01%
	IBP	F	0.01%	0.19%	0.01%
	IBTX	A	0.02%	0.08%	0.02%
	ICHR	C	0.0%	0.06%	0.0%
	ICUI	D	0.01%	0.16%	0.01%
	IDCC	A	0.01%	0.07%	0.01%
	IIIN	C	0.0%	0.04%	0.0%
	IIPR	F	0.01%	0.02%	0.01%
	INDB	A	0.01%	0.08%	0.01%
	INN	D	0.01%	0.05%	0.01%
	INVA	C	0.01%	0.02%	0.01%
	IOSP	C	0.01%	0.15%	0.01%
	IPAR	C	0.0%	0.1%	0.0%
	IRWD	D	0.0%	0.03%	0.0%
	ITGR	B	0.01%	0.13%	0.01%
	ITRI	B	0.01%	0.19%	0.01%
	JACK	D	0.0%	0.11%	0.0%
	JBGS	D	0.02%	0.03%	0.02%
	JBLU	C	0.02%	0.76%	0.02%
	JBSS	F	0.0%	0.07%	0.0%
	JBT	B	0.01%	0.15%	0.01%
	JJSF	C	0.01%	0.11%	0.01%
	JOE	F	0.0%	0.02%	0.0%
	JXN	B	0.07%	0.4%	0.07%
	KALU	C	0.01%	0.25%	0.01%
	KAR	A	0.02%	0.14%	0.02%
	KELYA	F	0.01%	0.23%	0.01%
	KFY	B	0.01%	0.22%	0.01%
	KLG	F	0.01%	0.18%	0.01%
	KLIC	C	0.01%	0.06%	0.01%
	KMT	B	0.01%	0.17%	0.01%
	KN	B	0.01%	0.06%	0.01%
	KOP	C	0.0%	0.15%	0.0%
	KREF	D	0.01%	0.04%	0.01%
	KSS	F	0.02%	1.1%	0.02%
	KTB	A	0.02%	0.22%	0.02%
	KW	C	0.01%	0.04%	0.01%
	KWR	C	0.01%	0.14%	0.01%
	LBRT	F	0.01%	0.29%	0.01%
	LCII	D	0.01%	0.26%	0.01%
	LEG	F	0.01%	0.3%	0.01%
	LESL	C	0.0%	0.09%	0.0%
	LGIH	F	0.01%	0.14%	0.01%
	LGND	B	0.01%	0.01%	0.01%
	LKFN	A	0.0%	0.03%	0.0%
	LNC	A	0.05%	1.38%	0.05%
	LNN	B	0.0%	0.04%	0.0%
	LPG	F	0.01%	0.03%	0.01%
	LQDT	A	0.0%	0.03%	0.0%
	LRN	A	0.01%	0.17%	0.01%
	LTC	B	0.01%	0.01%	0.01%
	LUMN	C	0.08%	1.4%	0.08%
	LXP	D	0.01%	0.02%	0.01%
	LZB	A	0.01%	0.15%	0.01%
	MAC	A	0.02%	0.07%	0.02%
	MATV	F	0.01%	0.09%	0.01%
	MATW	C	0.0%	0.13%	0.0%
	MATX	B	0.02%	0.29%	0.02%
	MC	B	0.01%	0.08%	0.01%
	MCRI	A	0.01%	0.04%	0.01%
	MCW	B	0.01%	0.08%	0.01%
	MCY	A	0.02%	0.45%	0.02%
	MD	B	0.01%	0.2%	0.01%
	MGEE	A	0.01%	0.05%	0.01%
	MGPI	D	0.0%	0.03%	0.0%
	MGY	A	0.02%	0.1%	0.02%
	MHO	D	0.02%	0.27%	0.02%
	MLI	B	0.03%	0.31%	0.03%
	MLKN	F	0.01%	0.23%	0.01%
	MMI	A	0.01%	0.04%	0.01%
	MMSI	A	0.01%	0.09%	0.01%
	MNRO	B	0.01%	0.1%	0.01%
	MODG	F	0.01%	0.25%	0.01%
	MOG.A	B	0.02%	0.28%	0.02%
	MP	B	0.01%	0.02%	0.01%
	MPW	F	0.02%	0.03%	0.02%
	MRCY	B	0.01%	0.07%	0.01%
	MRTN	C	0.0%	0.07%	0.0%
	MSEX	B	0.0%	0.01%	0.0%
	MSGS	B	0.01%	0.08%	0.01%
	MTH	D	0.02%	0.39%	0.02%
	MTRN	C	0.0%	0.13%	0.0%
	MTUS	F	0.0%	0.09%	0.0%
	MTX	B	0.01%	0.17%	0.01%
	MXL	C	0.0%	0.03%	0.0%
	MYE	F	0.0%	0.05%	0.0%
	MYGN	F	0.0%	0.03%	0.0%
	MYRG	B	0.01%	0.38%	0.01%
	NABL	F	0.0%	0.03%	0.0%
	NARI	C	0.0%	0.04%	0.0%
	NATL	B	0.02%	0.33%	0.02%
	NAVI	D	0.01%	0.33%	0.01%
	NBHC	A	0.01%	0.05%	0.01%
	NBR	D	0.01%	0.25%	0.01%
	NBTB	A	0.01%	0.06%	0.01%
	NEO	C	0.0%	0.04%	0.0%
	NGVT	B	0.01%	0.13%	0.01%
	NHC	B	0.01%	0.08%	0.01%
	NMIH	D	0.01%	0.04%	0.01%
	NOG	A	0.04%	0.16%	0.04%
	NPK	B	0.0%	0.02%	0.0%
	NPO	A	0.01%	0.08%	0.01%
	NSIT	F	0.02%	0.48%	0.02%
	NTCT	B	0.0%	0.06%	0.0%
	NVEE	F	0.0%	0.06%	0.0%
	NVRI	F	0.0%	0.11%	0.0%
	NWBI	A	0.02%	0.05%	0.02%
	NWL	B	0.03%	0.63%	0.03%
	NWN	A	0.01%	0.08%	0.01%
	NX	C	0.0%	0.08%	0.0%
	NXRT	A	0.0%	0.02%	0.0%
	ODP	F	0.01%	0.44%	0.01%
	OFG	B	0.01%	0.06%	0.01%
	OGN	F	0.03%	0.34%	0.03%
	OI	C	0.02%	0.47%	0.02%
	OII	B	0.01%	0.22%	0.01%
	OMCL	C	0.01%	0.08%	0.01%
	OMI	F	0.01%	0.59%	0.01%
	OSIS	A	0.01%	0.11%	0.01%
	OTTR	C	0.01%	0.1%	0.01%
	OUT	C	0.01%	0.14%	0.01%
	OXM	F	0.0%	0.1%	0.0%
	PAHC	A	0.0%	0.08%	0.0%
	PARR	D	0.01%	0.57%	0.01%
	PATK	C	0.01%	0.25%	0.01%
	PAYO	A	0.0%	0.09%	0.0%
	PBH	A	0.01%	0.09%	0.01%
	PBI	C	0.01%	0.26%	0.01%
	PCRX	C	0.0%	0.06%	0.0%
	PDCO	F	0.01%	0.42%	0.01%
	PEB	F	0.01%	0.1%	0.01%
	PECO	A	0.01%	0.04%	0.01%
	PENN	B	0.03%	0.47%	0.03%
	PFBC	A	0.01%	0.04%	0.01%
	PFS	A	0.02%	0.07%	0.02%
	PGNY	F	0.0%	0.05%	0.0%
	PHIN	A	0.01%	0.28%	0.01%
	PINC	B	0.01%	0.11%	0.01%
	PIPR	A	0.01%	0.13%	0.01%
	PJT	A	0.01%	0.11%	0.01%
	PLAB	D	0.01%	0.06%	0.01%
	PLAY	C	0.0%	0.2%	0.0%
	PLMR	A	0.0%	0.03%	0.0%
	PLUS	F	0.01%	0.13%	0.01%
	PLXS	B	0.02%	0.34%	0.02%
	PMT	D	0.01%	0.1%	0.01%
	POWL	C	0.01%	0.12%	0.01%
	PPBI	A	0.01%	0.06%	0.01%
	PRA	A	0.0%	0.1%	0.0%
	PRAA	C	0.0%	0.07%	0.0%
	PRDO	B	0.01%	0.06%	0.01%
	PRG	A	0.02%	0.18%	0.02%
	PRGS	B	0.0%	0.06%	0.0%
	PRK	A	0.01%	0.05%	0.01%
	PRLB	B	0.0%	0.05%	0.0%
	PRVA	B	0.0%	0.14%	0.0%
	PSMT	D	0.01%	0.34%	0.01%
	PTEN	D	0.01%	0.4%	0.01%
	PUMP	F	0.01%	0.11%	0.01%
	PZZA	D	0.0%	0.15%	0.0%
	QNST	C	0.01%	0.05%	0.01%
	RAMP	C	0.0%	0.05%	0.0%
	RC	F	0.01%	0.07%	0.01%
	RCUS	F	0.0%	0.02%	0.0%
	RDN	C	0.03%	0.09%	0.03%
	RDNT	B	0.01%	0.14%	0.01%
	RES	F	0.01%	0.1%	0.01%
	REX	C	0.0%	0.05%	0.0%
	REZI	A	0.02%	0.58%	0.02%
	RGNX	F	0.0%	0.01%	0.0%
	RGR	F	0.0%	0.03%	0.0%
	RHI	B	0.02%	0.51%	0.02%
	RNST	A	0.02%	0.08%	0.02%
	ROCK	C	0.0%	0.1%	0.0%
	ROG	D	0.0%	0.06%	0.0%
	ROIC	A	0.01%	0.03%	0.01%
	RUN	F	0.01%	0.08%	0.01%
	RUSHA	B	0.02%	0.68%	0.02%
	RWT	D	0.01%	0.05%	0.01%
	RXO	C	0.01%	0.29%	0.01%
	SABR	B	0.01%	0.24%	0.01%
	SAFT	A	0.01%	0.07%	0.01%
	SAH	A	0.01%	1.15%	0.01%
	SANM	B	0.04%	0.62%	0.04%
	SATS	D	0.03%	1.5%	0.03%
	SBCF	A	0.01%	0.06%	0.01%
	SBH	A	0.01%	0.25%	0.01%
	SBSI	B	0.01%	0.03%	0.01%
	SCHL	F	0.01%	0.09%	0.01%
	SCL	D	0.01%	0.16%	0.01%
	SCSC	B	0.01%	0.24%	0.01%
	SCVL	F	0.01%	0.08%	0.01%
	SEDG	F	0.0%	0.06%	0.0%
	SEE	B	0.01%	0.41%	0.01%
	SEM	B	0.02%	0.52%	0.02%
	SFBS	A	0.01%	0.08%	0.01%
	SFNC	B	0.03%	0.12%	0.03%
	SHAK	B	0.01%	0.1%	0.01%
	SHEN	F	0.0%	0.02%	0.0%
	SHO	D	0.01%	0.07%	0.01%
	SHOO	D	0.01%	0.14%	0.01%
	SIG	B	0.02%	0.52%	0.02%
	SITM	B	0.0%	0.01%	0.0%
	SJW	F	0.0%	0.04%	0.0%
	SKT	A	0.01%	0.04%	0.01%
	SKYW	A	0.02%	0.32%	0.02%
	SLG	B	0.02%	0.06%	0.02%
	SLVM	B	0.02%	0.27%	0.02%
	SM	C	0.02%	0.2%	0.02%
	SMP	C	0.0%	0.1%	0.0%
	SMPL	B	0.01%	0.09%	0.01%
	SMTC	C	0.0%	0.07%	0.0%
	SNCY	B	0.0%	0.1%	0.0%
	SNEX	A	0.02%	0.15%	0.02%
	SONO	C	0.0%	0.13%	0.0%
	SPNT	A	0.01%	0.21%	0.01%
	SPSC	D	0.0%	0.04%	0.0%
	SPTN	F	0.01%	0.56%	0.01%
	SSTK	F	0.0%	0.06%	0.0%
	STAA	F	0.0%	0.02%	0.0%
	STBA	A	0.01%	0.04%	0.01%
	STC	A	0.01%	0.16%	0.01%
	STRA	C	0.01%	0.09%	0.01%
	SUPN	B	0.0%	0.05%	0.0%
	SVC	F	0.0%	0.08%	0.0%
	SXC	A	0.01%	0.23%	0.01%
	SXI	A	0.0%	0.06%	0.0%
	SXT	C	0.01%	0.11%	0.01%
	TALO	C	0.01%	0.13%	0.01%
	TBBK	A	0.01%	0.05%	0.01%
	TDS	B	0.03%	0.47%	0.03%
	TFIN	A	0.0%	0.04%	0.0%
	TGI	A	0.0%	0.12%	0.0%
	TGNA	B	0.03%	0.26%	0.03%
	THRM	F	0.0%	0.09%	0.0%
	THRY	F	0.0%	0.05%	0.0%
	THS	F	0.01%	0.18%	0.01%
	TILE	A	0.0%	0.12%	0.0%
	TMP	A	0.01%	0.03%	0.01%
	TNC	F	0.0%	0.08%	0.0%
	TNDM	F	0.0%	0.04%	0.0%
	TPH	D	0.02%	0.27%	0.02%
	TR	A	0.0%	0.05%	0.0%
	TRIP	D	0.0%	0.13%	0.0%
	TRMK	A	0.01%	0.08%	0.01%
	TRN	A	0.03%	0.27%	0.03%
	TRST	A	0.0%	0.02%	0.0%
	TRUP	A	0.0%	0.09%	0.0%
	TTGT	C	0.0%	0.02%	0.0%
	TTMI	B	0.01%	0.22%	0.01%
	TWI	F	0.0%	0.11%	0.0%
	UCB	A	0.01%	0.11%	0.01%
	UCTT	F	0.01%	0.13%	0.01%
	UE	B	0.01%	0.03%	0.01%
	UFCS	A	0.01%	0.1%	0.01%
	UFPT	C	0.0%	0.03%	0.0%
	UHT	D	0.0%	0.01%	0.0%
	UNF	A	0.01%	0.17%	0.01%
	UNFI	A	0.01%	2.85%	0.01%
	UNIT	B	0.01%	0.08%	0.01%
	UPBD	B	0.01%	0.31%	0.01%
	URBN	C	0.02%	0.41%	0.02%
	USNA	C	0.0%	0.06%	0.0%
	USPH	C	0.0%	0.05%	0.0%
	UTL	C	0.0%	0.03%	0.0%
	UVV	B	0.01%	0.2%	0.01%
	VBTX	A	0.01%	0.07%	0.01%
	VCEL	A	0.0%	0.02%	0.0%
	VECO	F	0.0%	0.04%	0.0%
	VFC	B	0.06%	0.77%	0.06%
	VIAV	B	0.0%	0.08%	0.0%
	VICR	B	0.0%	0.04%	0.0%
	VIR	C	0.01%	0.01%	0.01%
	VRE	A	0.01%	0.02%	0.01%
	VRRM	D	0.0%	0.05%	0.0%
	VRTS	A	0.01%	0.07%	0.01%
	VSAT	F	0.01%	0.2%	0.01%
	VSCO	A	0.02%	0.65%	0.02%
	VSTO	A	0.01%	0.21%	0.01%
	VSTS	F	0.02%	0.19%	0.02%
	VTLE	C	0.01%	0.15%	0.01%
	VTOL	B	0.0%	0.1%	0.0%
	VVI	A	0.0%	0.12%	0.0%
	VYX	C	0.02%	0.28%	0.02%
	WABC	A	0.0%	0.03%	0.0%
	WAFD	A	0.03%	0.1%	0.03%
	WD	D	0.01%	0.07%	0.01%
	WDFC	A	0.0%	0.04%	0.0%
	WERN	B	0.01%	0.24%	0.01%
	WGO	B	0.01%	0.23%	0.01%
	WKC	C	0.01%	3.1%	0.01%
	WNC	C	0.0%	0.16%	0.0%
	WOLF	F	0.0%	0.05%	0.0%
	WOR	F	0.01%	0.13%	0.01%
	WRLD	D	0.01%	0.04%	0.01%
	WS	B	0.01%	0.32%	0.01%
	WSFS	A	0.01%	0.11%	0.01%
	WSR	B	0.0%	0.01%	0.0%
	WT	A	0.0%	0.03%	0.0%
	WWW	A	0.01%	0.19%	0.01%
	XHR	B	0.01%	0.08%	0.01%
	XNCR	B	0.0%	0.01%	0.0%
	XPEL	B	0.0%	0.03%	0.0%
	XRX	F	0.01%	0.36%	0.01%
	YELP	C	0.01%	0.1%	0.01%
	ZD	B	0.01%	0.11%	0.01%

VLU Overweight 871 Positions Relative to RWJ

	Symbol	Grade	Weight
	AAPL	C	2.41%
	BRK.A	A	2.36%
	AMZN	B	2.1%
	XOM	B	2.01%
	WMT	A	1.8%
	META	C	1.78%
	BAC	A	1.49%
	VZ	C	1.46%
	JPM	A	1.46%
	MSFT	D	1.43%
	T	A	1.35%
	CVX	A	1.32%
	GOOG	B	1.2%
	WFC	A	1.17%
	UNH	B	1.17%
	C	A	1.11%
	JNJ	D	0.79%
	PFE	F	0.77%
	GOOGL	B	0.75%
	CMCSA	B	0.64%
	CVS	F	0.61%
	MS	A	0.6%
	COF	A	0.6%
	GS	A	0.57%
	TSLA	B	0.57%
	PM	A	0.54%
	TFC	A	0.53%
	GM	A	0.53%
	CSCO	B	0.51%
	HD	A	0.5%
	AVGO	C	0.46%
	PG	C	0.46%
	ABBV	F	0.45%
	ORCL	A	0.45%
	PSX	C	0.45%
	KMI	A	0.44%
	V	A	0.44%
	MPC	D	0.44%
	RTX	D	0.44%
	IBM	D	0.43%
	TMUS	A	0.42%
	MET	A	0.41%
	COP	C	0.41%
	PNC	A	0.4%
	MCK	A	0.39%
	PRU	A	0.38%
	USB	B	0.38%
	GILD	B	0.38%
	UPS	C	0.37%
	COR	B	0.37%
	VLO	C	0.37%
	KO	D	0.37%
	NVDA	B	0.37%
	F	C	0.36%
	INTC	C	0.35%
	AXP	A	0.35%
	KR	B	0.34%
	PEP	F	0.34%
	MO	A	0.34%
	BMY	B	0.34%
	CHTR	B	0.33%
	LMT	D	0.33%
	DAL	A	0.33%
	NEE	C	0.33%
	CI	D	0.33%
	MDT	D	0.32%
	DUK	C	0.32%
	CB	C	0.32%
	ELV	F	0.31%
	ACN	C	0.31%
	MRK	F	0.31%
	HPQ	B	0.31%
	SO	C	0.3%
	MMM	D	0.28%
	CNC	F	0.28%
	BK	A	0.28%
	COST	B	0.28%
	GE	D	0.27%
	DIS	A	0.27%
	AMGN	D	0.26%
	CRM	A	0.26%
	CAH	B	0.25%
	KHC	F	0.25%
	CAT	B	0.25%
	TXN	C	0.25%
	HPE	B	0.24%
	SCHW	A	0.24%
	UAL	A	0.24%
	FDX	A	0.24%
	AIG	B	0.24%
	ABT	B	0.24%
	LOW	A	0.23%
	QCOM	F	0.23%
	D	C	0.23%
	TGT	D	0.22%
	SYF	A	0.22%
	KVUE	A	0.22%
	GD	D	0.22%
	DE	D	0.22%
	EOG	A	0.22%
	UNP	D	0.22%
	SW	A	0.22%
	ADM	D	0.21%
	HON	A	0.21%
	LLY	F	0.2%
	CCL	A	0.2%
	AFL	C	0.2%
	WMB	A	0.19%
	EXC	C	0.19%
	LYB	F	0.19%
	LIN	D	0.19%
	WBD	B	0.18%
	CFG	A	0.18%
	TRV	A	0.18%
	SRE	A	0.18%
	DD	D	0.18%
	PGR	B	0.18%
	MDLZ	F	0.18%
	NFLX	A	0.18%
	HCA	D	0.18%
	DOW	F	0.17%
	BA	F	0.17%
	MTB	A	0.17%
	OXY	F	0.17%
	IP	A	0.17%
	HUM	F	0.17%
	PYPL	A	0.17%
	TMO	D	0.16%
	EMR	A	0.16%
	LUV	A	0.16%
	PFG	C	0.16%
	TJX	A	0.16%
	AEP	C	0.16%
	DFS	A	0.16%
	ADBE	F	0.16%
	MU	D	0.15%
	MCD	D	0.15%
	BBY	C	0.15%
	KEY	A	0.15%
	FI	A	0.15%
	NOC	D	0.15%
	ALL	A	0.15%
	JCI	A	0.15%
	ETR	A	0.15%
	ADI	D	0.14%
	SBUX	A	0.14%
	XEL	A	0.14%
	STT	A	0.14%
	TSN	A	0.14%
	NEM	F	0.14%
	APD	A	0.14%
	AMT	D	0.13%
	L	A	0.13%
	NSC	B	0.13%
	HIG	C	0.13%
	PEG	C	0.13%
	AMD	F	0.13%
	OKE	A	0.13%
	LEN	D	0.13%
	MA	A	0.13%
	PLD	D	0.13%
	SLB	C	0.13%
	VTRS	A	0.13%
	CMI	A	0.13%
	BX	A	0.13%
	FITB	A	0.12%
	KDP	D	0.12%
	MMC	C	0.12%
	NKE	D	0.12%
	BKNG	A	0.12%
	SPGI	C	0.12%
	SYY	D	0.12%
	AMP	A	0.12%
	AMAT	F	0.12%
	EQT	A	0.12%
	BKR	A	0.12%
	PCG	A	0.12%
	DVN	F	0.12%
	NUE	D	0.12%
	PCAR	B	0.12%
	WELL	A	0.12%
	HBAN	A	0.12%
	RGA	A	0.12%
	ETN	A	0.12%
	ED	D	0.12%
	FANG	D	0.11%
	O	D	0.11%
	BG	D	0.11%
	REGN	F	0.11%
	ICE	D	0.11%
	DHI	D	0.11%
	BSX	B	0.11%
	VRTX	C	0.11%
	CTSH	B	0.11%
	PFGC	B	0.11%
	DHR	D	0.11%
	RF	A	0.11%
	ACGL	C	0.11%
	KMB	C	0.1%
	WM	B	0.1%
	EIX	C	0.1%
	CCI	D	0.1%
	ISRG	A	0.1%
	LHX	B	0.1%
	CME	A	0.1%
	UNM	A	0.1%
	GIS	D	0.1%
	VST	A	0.1%
	GLW	B	0.1%
	FIS	B	0.1%
	CSX	B	0.1%
	LAD	A	0.09%
	CTVA	D	0.09%
	FOXA	A	0.09%
	TRGP	A	0.09%
	ALLY	C	0.09%
	FCX	F	0.09%
	PPL	A	0.09%
	RSG	B	0.09%
	ADP	B	0.09%
	SYK	A	0.09%
	CL	D	0.09%
	VICI	C	0.09%
	MAR	A	0.09%
	DTE	C	0.09%
	WEC	A	0.09%
	ITW	B	0.09%
	OVV	C	0.09%
	PH	A	0.09%
	ORLY	A	0.08%
	AAL	B	0.08%
	LRCX	F	0.08%
	EQR	C	0.08%
	EG	D	0.08%
	TT	A	0.08%
	BIIB	F	0.08%
	MOS	D	0.08%
	K	B	0.08%
	CARR	D	0.08%
	X	D	0.08%
	NTRS	A	0.08%
	ANET	C	0.08%
	RCL	A	0.08%
	USFD	B	0.08%
	SNX	D	0.08%
	MRO	A	0.08%
	ES	C	0.08%
	AFG	A	0.08%
	BDX	F	0.08%
	STLD	B	0.08%
	VTR	C	0.08%
	AEE	A	0.08%
	UBER	C	0.08%
	CBRE	B	0.08%
	EBAY	D	0.08%
	TAP	A	0.08%
	ATO	A	0.07%
	CAG	F	0.07%
	PSA	C	0.07%
	GRMN	B	0.07%
	WTW	B	0.07%
	NDAQ	A	0.07%
	ABNB	C	0.07%
	BWA	A	0.07%
	EVRG	A	0.07%
	PANW	B	0.07%
	CINF	A	0.07%
	CHRD	F	0.07%
	IVZ	B	0.07%
	AVB	A	0.07%
	LVS	C	0.07%
	AON	A	0.07%
	ZION	A	0.07%
	CNP	A	0.07%
	HAL	C	0.07%
	NXPI	F	0.07%
	URI	B	0.07%
	EQIX	B	0.07%
	EQH	B	0.07%
	HRL	D	0.07%
	TROW	A	0.07%
	FNF	C	0.07%
	ARW	D	0.06%
	GWW	A	0.06%
	WBA	F	0.06%
	NRG	B	0.06%
	BAX	F	0.06%
	CTRA	A	0.06%
	LH	B	0.06%
	ROST	D	0.06%
	NI	A	0.06%
	JEF	A	0.06%
	DINO	D	0.06%
	BXP	D	0.06%
	PARA	C	0.06%
	HES	B	0.06%
	INTU	A	0.06%
	DVA	C	0.06%
	NVR	D	0.06%
	R	A	0.06%
	CF	A	0.06%
	PHM	D	0.06%
	GPN	B	0.06%
	PAYX	B	0.06%
	SPG	A	0.06%
	RJF	A	0.06%
	PPG	F	0.06%
	CHRW	A	0.06%
	SHW	B	0.06%
	THC	C	0.06%
	VNO	B	0.06%
	NOW	B	0.06%
	OMC	C	0.06%
	WY	D	0.06%
	AZO	C	0.06%
	APH	B	0.06%
	FE	C	0.06%
	MHK	D	0.06%
	WPC	D	0.05%
	SJM	F	0.05%
	ON	F	0.05%
	PKG	B	0.05%
	EXPE	A	0.05%
	FOX	A	0.05%
	OC	A	0.05%
	JLL	C	0.05%
	MCHP	F	0.05%
	LEA	F	0.05%
	UHS	D	0.05%
	ZBH	C	0.05%
	STX	D	0.05%
	STZ	D	0.05%
	EA	A	0.05%
	WDC	F	0.05%
	IQV	F	0.05%
	DG	F	0.05%
	BLDR	D	0.05%
	GPC	D	0.05%
	SNPS	C	0.05%
	APTV	F	0.05%
	JBL	C	0.05%
	CNX	A	0.05%
	KLAC	F	0.05%
	TOL	B	0.05%
	PNW	A	0.05%
	DOC	D	0.05%
	JHG	A	0.05%
	ARMK	C	0.05%
	IFF	D	0.05%
	WRB	A	0.05%
	WHR	A	0.05%
	GEN	B	0.05%
	ARE	D	0.05%
	RS	B	0.05%
	RNR	D	0.05%
	SWK	F	0.05%
	STWD	D	0.05%
	ROP	C	0.05%
	DGX	A	0.05%
	EWBC	A	0.05%
	FHN	A	0.05%
	COLB	A	0.05%
	AWK	C	0.05%
	HSY	F	0.05%
	BEN	C	0.05%
	AJG	A	0.05%
	CMS	C	0.05%
	AMCR	C	0.05%
	LDOS	C	0.05%
	IBKR	A	0.05%
	MNST	D	0.05%
	MUSA	A	0.04%
	CPT	D	0.04%
	OTIS	D	0.04%
	DOV	A	0.04%
	COHR	B	0.04%
	KEYS	C	0.04%
	KIM	A	0.04%
	NCLH	B	0.04%
	BRO	B	0.04%
	CNO	A	0.04%
	AME	A	0.04%
	SF	A	0.04%
	TSCO	D	0.04%
	DLTR	F	0.04%
	AES	F	0.04%
	IPG	F	0.04%
	J	D	0.04%
	EXPD	D	0.04%
	INGR	B	0.04%
	XPO	B	0.04%
	GL	B	0.04%
	AN	D	0.04%
	CACI	C	0.04%
	TPR	A	0.04%
	WLK	F	0.04%
	OHI	C	0.04%
	TXT	D	0.04%
	SNA	A	0.04%
	REG	A	0.04%
	TMHC	B	0.04%
	TKO	C	0.04%
	FYBR	C	0.04%
	NTAP	D	0.04%
	M	C	0.04%
	BERY	D	0.04%
	LNT	A	0.04%
	ROK	A	0.04%
	APA	F	0.04%
	VLY	A	0.04%
	HWM	A	0.04%
	FTNT	A	0.04%
	MAA	A	0.04%
	HST	D	0.04%
	BALL	D	0.04%
	WSO	A	0.04%
	PWR	A	0.04%
	AR	B	0.04%
	UTHR	B	0.04%
	WBS	A	0.04%
	AIZ	A	0.04%
	GAP	C	0.04%
	CPAY	A	0.04%
	MKC	D	0.04%
	MCO	C	0.04%
	KRC	C	0.04%
	INVH	D	0.04%
	SNV	A	0.04%
	DLR	A	0.04%
	FAST	B	0.04%
	MUR	F	0.04%
	SWKS	F	0.04%
	GLPI	D	0.04%
	CTAS	B	0.04%
	VOYA	A	0.04%
	CEG	D	0.04%
	ESS	A	0.04%
	CMG	B	0.04%
	AA	A	0.04%
	MOH	F	0.04%
	CIVI	F	0.04%
	OZK	A	0.04%
	UGI	C	0.04%
	MSI	A	0.04%
	ORI	A	0.04%
	MGM	D	0.04%
	IRM	D	0.04%
	ZTS	D	0.04%
	ALB	C	0.04%
	CPB	D	0.04%
	LYV	A	0.04%
	ECL	D	0.04%
	EXR	C	0.04%
	ROIV	D	0.04%
	AVT	C	0.04%
	DRI	B	0.04%
	WCC	A	0.04%
	KMX	B	0.04%
	WAB	B	0.04%
	EMN	C	0.04%
	BURL	C	0.03%
	RMD	C	0.03%
	SSB	A	0.03%
	MTDR	C	0.03%
	CADE	A	0.03%
	GT	C	0.03%
	WTFC	A	0.03%
	CDNS	B	0.03%
	SKX	D	0.03%
	HAS	D	0.03%
	CSL	B	0.03%
	HRB	D	0.03%
	DTM	A	0.03%
	CLH	C	0.03%
	COKE	C	0.03%
	PK	C	0.03%
	MAS	D	0.03%
	ANSS	B	0.03%
	PAG	A	0.03%
	BRX	A	0.03%
	NFG	A	0.03%
	FSLR	F	0.03%
	CUZ	B	0.03%
	POST	D	0.03%
	CR	A	0.03%
	MAN	F	0.03%
	HSIC	D	0.03%
	LAMR	D	0.03%
	WTRG	C	0.03%
	INCY	B	0.03%
	CZR	F	0.03%
	GPK	D	0.03%
	JNPR	D	0.03%
	BHF	A	0.03%
	HWC	A	0.03%
	ULTA	D	0.03%
	FMC	F	0.03%
	PNFP	A	0.03%
	PBF	D	0.03%
	FNB	A	0.03%
	BIO	C	0.03%
	GME	C	0.03%
	CHD	A	0.03%
	UDR	C	0.03%
	THO	B	0.03%
	AGCO	D	0.03%
	PB	A	0.03%
	CBOE	D	0.03%
	GHC	A	0.03%
	CFR	A	0.03%
	RRC	B	0.03%
	OGE	A	0.03%
	HUBB	B	0.03%
	PR	C	0.03%
	EME	B	0.03%
	NXST	D	0.03%
	GEHC	D	0.03%
	ILMN	C	0.03%
	GDDY	A	0.03%
	CE	F	0.03%
	CLX	A	0.03%
	ODFL	B	0.03%
	SFM	A	0.03%
	IT	B	0.03%
	NWSA	B	0.03%
	FLR	B	0.03%
	LULU	C	0.03%
	KD	A	0.03%
	FTV	D	0.03%
	AKAM	F	0.03%
	ACM	B	0.03%
	FAF	C	0.03%
	LKQ	D	0.03%
	WU	F	0.03%
	MTZ	B	0.03%
	EL	F	0.03%
	RL	B	0.03%
	DKS	D	0.03%
	YUM	D	0.03%
	MLM	B	0.03%
	CDW	F	0.03%
	BJ	B	0.03%
	VMC	B	0.03%
	JBHT	B	0.03%
	ONB	B	0.03%
	TDY	B	0.03%
	CASY	B	0.03%
	CPRT	A	0.03%
	ASB	A	0.03%
	OGS	A	0.03%
	BKH	A	0.03%
	CCK	D	0.03%
	KNX	B	0.03%
	CMC	B	0.03%
	EW	C	0.03%
	A	D	0.03%
	ADSK	B	0.03%
	TER	F	0.02%
	BLD	F	0.02%
	LPX	A	0.02%
	GMED	A	0.02%
	ALLE	D	0.02%
	KBR	D	0.02%
	EXEL	B	0.02%
	MIDD	D	0.02%
	AIT	A	0.02%
	VAC	B	0.02%
	MMS	D	0.02%
	VMI	B	0.02%
	ELS	B	0.02%
	GATX	A	0.02%
	FICO	A	0.02%
	VVV	B	0.02%
	ST	F	0.02%
	TTEK	D	0.02%
	FLO	D	0.02%
	VLTO	D	0.02%
	TXRH	A	0.02%
	NWE	C	0.02%
	SLM	A	0.02%
	ERIE	F	0.02%
	SIGI	A	0.02%
	GEF	A	0.02%
	POR	D	0.02%
	AXTA	A	0.02%
	FLS	A	0.02%
	TNL	A	0.02%
	KRG	B	0.02%
	SEIC	A	0.02%
	NDSN	B	0.02%
	CAR	C	0.02%
	SR	A	0.02%
	CNXC	F	0.02%
	MSM	C	0.02%
	MDU	D	0.02%
	IDA	A	0.02%
	WWD	B	0.02%
	EFX	F	0.02%
	WFRD	F	0.02%
	RRX	B	0.02%
	UAA	B	0.02%
	SBAC	D	0.02%
	LII	B	0.02%
	WYNN	D	0.02%
	CBT	C	0.02%
	NVT	B	0.02%
	BYD	A	0.02%
	ALE	A	0.02%
	PII	F	0.02%
	ESNT	D	0.02%
	BC	D	0.02%
	SWX	A	0.02%
	PRGO	C	0.02%
	PTC	B	0.02%
	PNM	B	0.02%
	TCBI	A	0.02%
	OLN	F	0.02%
	PPC	B	0.02%
	AM	A	0.02%
	PRI	A	0.02%
	HOG	D	0.02%
	PVH	C	0.02%
	IDXX	F	0.02%
	HLT	A	0.02%
	UMBF	A	0.02%
	GBCI	A	0.02%
	TYL	B	0.02%
	TTWO	A	0.02%
	BBWI	C	0.02%
	LNW	D	0.02%
	GXO	B	0.02%
	AVNT	A	0.02%
	WAT	B	0.02%
	HOMB	A	0.02%
	ADC	A	0.02%
	MTD	F	0.02%
	CBSH	A	0.02%
	FBIN	D	0.02%
	KEX	A	0.02%
	STE	D	0.02%
	JWN	A	0.02%
	AVY	D	0.02%
	THG	A	0.02%
	CIEN	B	0.02%
	MRNA	F	0.02%
	H	B	0.02%
	SLGN	B	0.02%
	G	A	0.02%
	DECK	A	0.02%
	PNR	A	0.02%
	EHC	B	0.02%
	SAIC	D	0.02%
	CW	B	0.02%
	HII	F	0.02%
	IBOC	A	0.02%
	RPM	A	0.02%
	ALGN	D	0.02%
	EVR	A	0.02%
	WSM	F	0.02%
	SBRA	C	0.02%
	KBH	D	0.02%
	VRSN	D	0.02%
	BR	A	0.02%
	GNRC	B	0.02%
	CUBE	C	0.02%
	IR	A	0.02%
	OSK	C	0.02%
	TRMB	A	0.02%
	UFPI	C	0.02%
	AMG	A	0.02%
	ALV	C	0.02%
	RVTY	D	0.02%
	JAZZ	A	0.02%
	NNN	D	0.02%
	UBSI	A	0.02%
	HOLX	D	0.02%
	FFIV	B	0.02%
	DAR	B	0.02%
	XYL	D	0.02%
	NOV	D	0.02%
	ZBRA	B	0.02%
	AMH	C	0.02%
	SCI	B	0.02%
	CG	B	0.02%
	SON	D	0.02%
	AMKR	F	0.02%
	CLF	F	0.02%
	MTG	C	0.02%
	CSGP	F	0.02%
	TDG	D	0.02%
	CHE	D	0.01%
	SOLV	C	0.01%
	HAE	A	0.01%
	TDC	F	0.01%
	CVLT	B	0.01%
	OLED	F	0.01%
	CHH	A	0.01%
	SYNA	C	0.01%
	RCM	A	0.01%
	ONTO	F	0.01%
	RGEN	D	0.01%
	WST	C	0.01%
	HXL	F	0.01%
	ESAB	B	0.01%
	TPX	A	0.01%
	MEDP	D	0.01%
	CRI	D	0.01%
	KNF	B	0.01%
	AMED	F	0.01%
	CGNX	D	0.01%
	NOVT	D	0.01%
	VC	F	0.01%
	EXP	B	0.01%
	HQY	A	0.01%
	ACHC	F	0.01%
	SMCI	F	0.01%
	MORN	B	0.01%
	XRAY	F	0.01%
	BRBR	A	0.01%
	TREX	C	0.01%
	FND	F	0.01%
	HALO	D	0.01%
	LANC	D	0.01%
	OPCH	F	0.01%
	LNTH	F	0.01%
	PAYC	B	0.01%
	PCTY	B	0.01%
	BRKR	F	0.01%
	NSP	F	0.01%
	ENPH	F	0.01%
	WEN	C	0.01%
	VNT	C	0.01%
	SSD	D	0.01%
	EXLS	B	0.01%
	DOCS	C	0.01%
	DXCM	C	0.01%
	NBIX	D	0.01%
	MASI	A	0.01%
	ENOV	C	0.01%
	GTLS	A	0.01%
	ANF	C	0.01%
	CPRI	F	0.01%
	IPGP	D	0.01%
	CHX	C	0.01%
	IRT	A	0.01%
	ORA	B	0.01%
	MKSI	D	0.01%
	PCH	D	0.01%
	PODD	A	0.01%
	DAY	B	0.01%
	SHC	D	0.01%
	BWXT	A	0.01%
	DLB	D	0.01%
	ALGM	F	0.01%
	WTS	A	0.01%
	ROL	A	0.01%
	ENSG	D	0.01%
	EGP	D	0.01%
	WMS	F	0.01%
	MTSI	B	0.01%
	NSA	C	0.01%
	HGV	B	0.01%
	VAL	F	0.01%
	NWS	A	0.01%
	NEU	C	0.01%
	MAT	C	0.01%
	NYT	D	0.01%
	RLI	A	0.01%
	RYN	D	0.01%
	POOL	D	0.01%
	CNM	F	0.01%
	EPR	D	0.01%
	DPZ	C	0.01%
	LOPE	B	0.01%
	RH	C	0.01%
	FIX	A	0.01%
	UA	B	0.01%
	FCN	F	0.01%
	TEX	D	0.01%
	MPWR	F	0.01%
	OLLI	D	0.01%
	MKTX	C	0.01%
	FFIN	A	0.01%
	SMG	D	0.01%
	RBC	A	0.01%
	TTC	D	0.01%
	CRUS	F	0.01%
	SAIA	B	0.01%
	BCO	F	0.01%
	PSTG	F	0.01%
	CDP	C	0.01%
	WEX	F	0.01%
	GGG	A	0.01%
	DT	C	0.01%
	WH	A	0.01%
	FN	C	0.01%
	LSTR	D	0.01%
	VSH	F	0.01%
	FHI	A	0.01%
	VRSK	B	0.01%
	BDC	B	0.01%
	CROX	F	0.01%
	ENS	D	0.01%
	LFUS	D	0.01%
	GNTX	C	0.01%
	MTCH	F	0.01%
	LECO	C	0.01%
	MSCI	A	0.01%
	FDS	A	0.01%
	COTY	F	0.01%
	CRL	D	0.01%
	JKHY	D	0.01%
	ASH	F	0.01%
	NVST	C	0.01%
	CTLT	C	0.01%
	ASGN	D	0.01%
	CHDN	C	0.01%
	DCI	B	0.01%
	LW	C	0.01%
	TFX	F	0.01%
	STAG	D	0.01%
	AXON	A	0.01%
	IEX	B	0.01%
	EEFT	C	0.01%
	NJR	A	0.01%
	REXR	F	0.01%
	FRT	B	0.01%
	QRVO	F	0.01%
	FR	D	0.01%
	LITE	A	0.01%
	MTN	C	0.01%
	HLI	A	0.01%
	KMPR	A	0.01%
	AOS	F	0.01%
	ATR	B	0.01%
	DBX	C	0.01%
	CC	C	0.01%
	RGLD	C	0.01%
	TKR	F	0.01%
	AYI	A	0.01%
	ITT	A	0.01%
	COLM	B	0.01%
	EPAM	B	0.01%
	CELH	F	0.0%
	ELF	C	0.0%
	ARWR	D	0.0%
	AAON	A	0.0%
	WING	F	0.0%
	CYTK	D	0.0%
	SLAB	F	0.0%
	PEN	B	0.0%
	YETI	F	0.0%
	KNSL	C	0.0%
	IRDM	C	0.0%
	POWI	D	0.0%
	BLKB	D	0.0%
	LIVN	C	0.0%
	QLYS	C	0.0%
	CXT	D	0.0%
	EXPO	D	0.0%
	AZTA	F	0.0%
	LSCC	D	0.0%
	MANH	D	0.0%
	NEOG	D	0.0%
	PLNT	A	0.0%
	SAM	B	0.0%
	FIVE	F	0.0%
	RMBS	C	0.0%
	TECH	D	0.0%
	ZI	D	0.0%
	MSA	D	0.0%

VLU Underweight 34 Positions Relative to RWJ

	Symbol	Grade	Weight
	SNDR	B	-0.42%
	GTES	B	-0.29%
	IAC	D	-0.25%
	VIRT	A	-0.18%
	ZWS	B	-0.13%
	WHD	B	-0.09%
	CSWI	B	-0.07%
	SWI	B	-0.06%
	STEP	A	-0.06%
	TDW	F	-0.06%
	DOCN	D	-0.05%
	MARA	B	-0.05%
	BL	B	-0.05%
	CXM	C	-0.05%
	TGTX	B	-0.04%
	CNS	B	-0.04%
	ANIP	D	-0.04%
	YOU	D	-0.04%
	INSP	F	-0.04%
	GSHD	A	-0.03%
	PTGX	D	-0.03%
	ADMA	C	-0.03%
	ARLO	D	-0.03%
	LMAT	A	-0.02%
	CTKB	C	-0.02%
	ATEN	A	-0.02%
	PI	D	-0.02%
	HSTM	B	-0.02%
	BLFS	D	-0.01%
	KRYS	D	-0.01%
	PDFS	D	-0.01%
	MLAB	F	-0.01%
	SDGR	D	-0.01%
	SLP	F	-0.0%

VLU: Top Represented Industries & Keywords

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

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

RWJ: Top Represented Industries & Keywords

Industries: Banks - Regional - US Biotechnology REIT - Diversified Diversified Industrials Software - Application Packaged Foods Specialty Chemicals Asset Management Oil & Gas Equipment & Services REIT - Retail Software - Infrastructure Auto Parts Insurance - Property & Casualty Medical Devices Restaurants Specialty Retail Communication Equipment Drug Manufacturers - Specialty & Generic Electronic Components Oil & Gas E&P

Keywords: Bank Banking Real Estate Investment Trust Deposit Products Medicine Computing Chemical Real Estate Loans Aerospace Clothing Insurance Commercial Bank Mining Semiconductor Transport Commercial Banking Mortgage Loan Investment Management Retail Store Construction