VLU vs. SAA ETF Comparison

Comparison of SPDR S&P 1500 Value Tilt ETF (VLU) to ProShares Ultra SmallCap600 (SAA)

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

$176.18

Average Daily Volume

10,671

Number of Holdings ^*

1421

* may have additional holdings in another (foreign) market

SAA

ProShares Ultra SmallCap600

SAA Description

The investment seeks daily investment results that correspond to two times (2x) the daily performance of the S&P SmallCap 600®. The fund invests in securities and derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as two times (2x) the daily return of the index. The index is a measure of small-cap company U.S. stock market performance. It is a float-adjusted, market capitalization-weighted index of 600 U.S. operating companies selected through a process that factors in criteria such as liquidity, price, market capitalization, financial viability and public float. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$24.18

Average Daily Volume

18,087

Number of Holdings ^*

577

* may have additional holdings in another (foreign) market

Performance

Period	VLU	SAA
30 Days	3.88%	3.69%
60 Days	2.00%	5.68%
90 Days	3.07%	4.13%
12 Months	20.79%	17.44%

550 Overlapping Holdings

	Symbol	Grade	Weight in VLU	Weight in SAA	Overlap
	AAP	F	0.02%	0.15%	0.02%
	AAT	B	0.01%	0.07%	0.01%
	ABCB	B	0.02%	0.21%	0.02%
	ABG	D	0.04%	0.26%	0.04%
	ABM	C	0.03%	0.19%	0.03%
	ABR	B	0.02%	0.14%	0.02%
	ACA	D	0.01%	0.24%	0.01%
	ACIW	B	0.01%	0.28%	0.01%
	ACLS	F	0.01%	0.19%	0.01%
	ADUS	B	0.0%	0.13%	0.0%
	AEIS	D	0.01%	0.22%	0.01%
	AEO	D	0.01%	0.22%	0.01%
	AGO	D	0.02%	0.22%	0.02%
	AGYS	C	0.0%	0.12%	0.0%
	AHCO	A	0.01%	0.05%	0.01%
	AHH	B	0.0%	0.04%	0.0%
	AIN	D	0.01%	0.16%	0.01%
	AIR	D	0.0%	0.12%	0.0%
	AKR	B	0.01%	0.13%	0.01%
	AL	D	0.04%	0.25%	0.04%
	ALEX	B	0.01%	0.08%	0.01%
	ALG	D	0.0%	0.1%	0.0%
	ALGT	F	0.0%	0.03%	0.0%
	ALK	D	0.04%	0.25%	0.04%
	ALKS	B	0.01%	0.26%	0.01%
	ALRM	F	0.0%	0.16%	0.0%
	AMBC	F	0.0%	0.03%	0.0%
	AMCX	F	0.0%	0.02%	0.0%
	AMN	F	0.01%	0.11%	0.01%
	AMPH	C	0.0%	0.1%	0.0%
	AMR	F	0.01%	0.15%	0.01%
	AMSF	B	0.0%	0.05%	0.0%
	AMWD	D	0.01%	0.08%	0.01%
	ANDE	D	0.02%	0.09%	0.02%
	AOSL	D	0.01%	0.05%	0.01%
	APAM	D	0.01%	0.16%	0.01%
	APLE	F	0.03%	0.17%	0.03%
	APOG	C	0.0%	0.08%	0.0%
	ARCB	F	0.01%	0.13%	0.01%
	ARCH	F	0.02%	0.13%	0.02%
	ARI	C	0.01%	0.07%	0.01%
	AROC	D	0.01%	0.16%	0.01%
	ASIX	B	0.01%	0.04%	0.01%
	ASO	C	0.02%	0.22%	0.02%
	ASTE	D	0.0%	0.04%	0.0%
	ASTH	B	0.0%	0.11%	0.0%
	ATGE	C	0.01%	0.15%	0.01%
	ATI	C	0.02%	0.44%	0.02%
	AUB	B	0.02%	0.19%	0.02%
	AVA	B	0.02%	0.16%	0.02%
	AVAV	B	0.01%	0.29%	0.01%
	AVNS	B	0.0%	0.06%	0.0%
	AWI	C	0.01%	0.3%	0.01%
	AWR	B	0.01%	0.16%	0.01%
	AX	C	0.01%	0.19%	0.01%
	AXL	F	0.01%	0.04%	0.01%
	AZZ	C	0.01%	0.13%	0.01%
	B	D	0.01%	0.11%	0.01%
	BANC	B	0.02%	0.11%	0.02%
	BANF	B	0.01%	0.08%	0.01%
	BANR	B	0.02%	0.11%	0.02%
	BCC	C	0.02%	0.29%	0.02%
	BCPC	C	0.01%	0.3%	0.01%
	BDN	B	0.01%	0.05%	0.01%
	BFS	B	0.01%	0.03%	0.01%
	BGC	B	0.01%	0.2%	0.01%
	BGS	C	0.01%	0.04%	0.01%
	BHE	C	0.02%	0.08%	0.02%
	BHLB	B	0.01%	0.06%	0.01%
	BJRI	D	0.0%	0.04%	0.0%
	BKE	B	0.01%	0.07%	0.01%
	BKU	B	0.03%	0.16%	0.03%
	BLMN	F	0.01%	0.08%	0.01%
	BMI	C	0.0%	0.33%	0.0%
	BOH	B	0.01%	0.14%	0.01%
	BOOT	B	0.01%	0.23%	0.01%
	BOX	A	0.0%	0.25%	0.0%
	BRC	B	0.01%	0.18%	0.01%
	BRKL	B	0.01%	0.05%	0.01%
	BSIG	C	0.0%	0.04%	0.0%
	BTU	D	0.02%	0.13%	0.02%
	BXMT	C	0.03%	0.17%	0.03%
	CABO	F	0.01%	0.09%	0.01%
	CAKE	C	0.01%	0.1%	0.01%
	CAL	B	0.01%	0.08%	0.01%
	CALM	B	0.03%	0.16%	0.03%
	CALX	D	0.0%	0.12%	0.0%
	CARG	B	0.01%	0.12%	0.01%
	CARS	D	0.0%	0.06%	0.0%
	CASH	A	0.01%	0.09%	0.01%
	CATY	B	0.03%	0.17%	0.03%
	CBRL	F	0.01%	0.05%	0.01%
	CBU	B	0.01%	0.18%	0.01%
	CCOI	A	0.01%	0.16%	0.01%
	CCRN	F	0.0%	0.03%	0.0%
	CCS	B	0.01%	0.15%	0.01%
	CEIX	D	0.02%	0.14%	0.02%
	CENT	D	0.0%	0.02%	0.0%
	CENTA	D	0.01%	0.1%	0.01%
	CENX	F	0.0%	0.04%	0.0%
	CERT	F	0.0%	0.07%	0.0%
	CEVA	B	0.0%	0.03%	0.0%
	CFFN	C	0.01%	0.04%	0.01%
	CHCO	B	0.01%	0.09%	0.01%
	CHCT	F	0.0%	0.02%	0.0%
	CHEF	B	0.01%	0.08%	0.01%
	CHUY	A	0.0%	0.03%	0.0%
	CLB	F	0.0%	0.05%	0.0%
	CLW	F	0.0%	0.03%	0.0%
	CMA	B	0.07%	0.41%	0.07%
	CMP	F	0.0%	0.02%	0.0%
	CNK	A	0.03%	0.16%	0.03%
	CNMD	C	0.0%	0.12%	0.0%
	CNSL	A	0.0%	0.02%	0.0%
	CNXN	B	0.01%	0.04%	0.01%
	COHU	F	0.0%	0.07%	0.0%
	COLL	B	0.0%	0.07%	0.0%
	COOP	B	0.05%	0.32%	0.05%
	CORT	B	0.0%	0.17%	0.0%
	CPF	B	0.01%	0.04%	0.01%
	CPK	A	0.01%	0.14%	0.01%
	CPRX	B	0.0%	0.12%	0.0%
	CRC	D	0.02%	0.18%	0.02%
	CRK	D	0.01%	0.05%	0.01%
	CRS	B	0.02%	0.38%	0.02%
	CRSR	F	0.0%	0.02%	0.0%
	CRVL	B	0.0%	0.15%	0.0%
	CSGS	C	0.0%	0.07%	0.0%
	CSR	B	0.01%	0.06%	0.01%
	CTRE	A	0.01%	0.23%	0.01%
	CTS	D	0.0%	0.08%	0.0%
	CUBI	F	0.01%	0.08%	0.01%
	CVBF	D	0.01%	0.13%	0.01%
	CVCO	B	0.01%	0.17%	0.01%
	CVGW	C	0.0%	0.02%	0.0%
	CVI	F	0.01%	0.04%	0.01%
	CWEN	B	0.02%	0.05%	0.02%
	CWEN	B	0.01%	0.13%	0.01%
	CWEN	B	0.02%	0.13%	0.02%
	CWEN	B	0.01%	0.05%	0.01%
	CWK	B	0.02%	0.14%	0.02%
	CWT	B	0.01%	0.17%	0.01%
	CXW	D	0.02%	0.08%	0.02%
	DAN	F	0.01%	0.08%	0.01%
	DBI	F	0.0%	0.02%	0.0%
	DCOM	B	0.01%	0.05%	0.01%
	DDD	F	0.0%	0.02%	0.0%
	DEA	A	0.01%	0.08%	0.01%
	DEI	B	0.03%	0.14%	0.03%
	DFIN	B	0.0%	0.09%	0.0%
	DGII	B	0.0%	0.06%	0.0%
	DIN	F	0.0%	0.03%	0.0%
	DIOD	F	0.01%	0.17%	0.01%
	DLX	D	0.01%	0.05%	0.01%
	DNOW	D	0.01%	0.07%	0.01%
	DORM	B	0.01%	0.17%	0.01%
	DRH	D	0.01%	0.1%	0.01%
	DRQ	F	0.0%	0.03%	0.0%
	DV	F	0.0%	0.15%	0.0%
	DVAX	C	0.0%	0.08%	0.0%
	DXC	A	0.03%	0.2%	0.03%
	DXPE	B	0.0%	0.04%	0.0%
	DY	D	0.01%	0.27%	0.01%
	EAT	B	0.01%	0.17%	0.01%
	ECPG	C	0.01%	0.06%	0.01%
	EFC	B	0.01%	0.06%	0.01%
	EGBN	C	0.01%	0.04%	0.01%
	EIG	B	0.01%	0.07%	0.01%
	EMBC	B	0.0%	0.05%	0.0%
	ENR	B	0.01%	0.12%	0.01%
	ENSG	B	0.01%	0.46%	0.01%
	ENV	B	0.0%	0.17%	0.0%
	ENVA	B	0.02%	0.12%	0.02%
	EPAC	C	0.0%	0.12%	0.0%
	EPC	C	0.01%	0.11%	0.01%
	EPRT	A	0.01%	0.3%	0.01%
	ESE	C	0.01%	0.17%	0.01%
	ETH	F	0.0%	0.04%	0.0%
	EVTC	D	0.0%	0.12%	0.0%
	EXPI	F	0.01%	0.05%	0.01%
	EXTR	C	0.0%	0.11%	0.0%
	EYE	F	0.0%	0.04%	0.0%
	EZPW	B	0.01%	0.03%	0.01%
	FBK	B	0.01%	0.09%	0.01%
	FBNC	B	0.0%	0.09%	0.0%
	FBP	B	0.01%	0.19%	0.01%
	FCF	B	0.01%	0.09%	0.01%
	FCPT	A	0.01%	0.14%	0.01%
	FDP	B	0.01%	0.05%	0.01%
	FELE	D	0.01%	0.22%	0.01%
	FFBC	B	0.02%	0.14%	0.02%
	FHB	C	0.02%	0.17%	0.02%
	FIZZ	D	0.01%	0.06%	0.01%
	FL	D	0.02%	0.13%	0.02%
	FLGT	D	0.0%	0.03%	0.0%
	FN	C	0.01%	0.48%	0.01%
	FORM	F	0.01%	0.21%	0.01%
	FOXF	F	0.0%	0.09%	0.0%
	FSS	D	0.01%	0.31%	0.01%
	FTDR	B	0.01%	0.2%	0.01%
	FTRE	F	0.0%	0.11%	0.0%
	FUL	C	0.01%	0.25%	0.01%
	FULT	C	0.02%	0.19%	0.02%
	FWRD	D	0.01%	0.06%	0.01%
	GBX	D	0.02%	0.08%	0.02%
	GDEN	C	0.0%	0.04%	0.0%
	GDOT	B	0.01%	0.03%	0.01%
	GEO	D	0.02%	0.1%	0.02%
	GES	F	0.01%	0.03%	0.01%
	GFF	D	0.01%	0.13%	0.01%
	GIII	A	0.01%	0.06%	0.01%
	GKOS	B	0.0%	0.37%	0.0%
	GMS	D	0.01%	0.2%	0.01%
	GNL	A	0.02%	0.09%	0.02%
	GNW	B	0.03%	0.16%	0.03%
	GO	F	0.01%	0.1%	0.01%
	GOGO	D	0.0%	0.03%	0.0%
	GPI	B	0.04%	0.26%	0.04%
	GPRE	F	0.0%	0.05%	0.0%
	GRBK	B	0.01%	0.11%	0.01%
	GTY	B	0.01%	0.08%	0.01%
	GVA	B	0.01%	0.18%	0.01%
	HAFC	B	0.0%	0.03%	0.0%
	HAIN	B	0.01%	0.04%	0.01%
	HASI	B	0.01%	0.2%	0.01%
	HAYN	A	0.0%	0.04%	0.0%
	HBI	B	0.02%	0.12%	0.02%
	HCC	F	0.03%	0.17%	0.03%
	HCI	A	0.0%	0.04%	0.0%
	HCSG	D	0.01%	0.04%	0.01%
	HFWA	B	0.0%	0.04%	0.0%
	HI	F	0.01%	0.12%	0.01%
	HIW	B	0.03%	0.18%	0.03%
	HLIT	B	0.0%	0.09%	0.0%
	HLX	D	0.01%	0.09%	0.01%
	HMN	B	0.01%	0.08%	0.01%
	HNI	B	0.01%	0.14%	0.01%
	HOPE	B	0.01%	0.08%	0.01%
	HP	F	0.03%	0.17%	0.03%
	HPP	D	0.01%	0.04%	0.01%
	HRMY	B	0.0%	0.06%	0.0%
	HSII	B	0.0%	0.04%	0.0%
	HTH	C	0.01%	0.08%	0.01%
	HTLD	D	0.0%	0.03%	0.0%
	HTZ	F	0.0%	0.02%	0.0%
	HUBG	B	0.01%	0.15%	0.01%
	HVT	D	0.0%	0.02%	0.0%
	HWKN	B	0.01%	0.13%	0.01%
	HZO	D	0.0%	0.04%	0.0%
	IART	F	0.0%	0.08%	0.0%
	IBP	D	0.01%	0.28%	0.01%
	IBTX	B	0.02%	0.11%	0.02%
	ICHR	F	0.0%	0.06%	0.0%
	ICUI	B	0.01%	0.18%	0.01%
	IDCC	B	0.01%	0.19%	0.01%
	IIIN	D	0.0%	0.04%	0.0%
	IIPR	B	0.01%	0.19%	0.01%
	INDB	B	0.01%	0.15%	0.01%
	INN	B	0.01%	0.04%	0.01%
	INVA	B	0.01%	0.06%	0.01%
	IOSP	D	0.01%	0.15%	0.01%
	IPAR	D	0.0%	0.12%	0.0%
	IRWD	F	0.0%	0.04%	0.0%
	ITGR	A	0.01%	0.23%	0.01%
	ITRI	D	0.01%	0.25%	0.01%
	JACK	F	0.0%	0.05%	0.0%
	JBGS	B	0.02%	0.08%	0.02%
	JBLU	D	0.02%	0.09%	0.02%
	JBSS	D	0.0%	0.05%	0.0%
	JBT	F	0.01%	0.15%	0.01%
	JJSF	C	0.01%	0.14%	0.01%
	JOE	C	0.0%	0.11%	0.0%
	JXN	C	0.05%	0.32%	0.05%
	KALU	F	0.01%	0.06%	0.01%
	KAR	D	0.02%	0.1%	0.02%
	KELYA	D	0.01%	0.04%	0.01%
	KFY	C	0.01%	0.2%	0.01%
	KLG	B	0.01%	0.06%	0.01%
	KLIC	F	0.01%	0.13%	0.01%
	KMT	D	0.01%	0.11%	0.01%
	KN	D	0.01%	0.09%	0.01%
	KOP	D	0.0%	0.04%	0.0%
	KREF	A	0.01%	0.04%	0.01%
	KSS	F	0.02%	0.12%	0.02%
	KTB	B	0.01%	0.2%	0.01%
	KW	B	0.01%	0.07%	0.01%
	KWR	D	0.01%	0.12%	0.01%
	LBRT	D	0.02%	0.17%	0.02%
	LCII	B	0.01%	0.16%	0.01%
	LEG	D	0.02%	0.09%	0.02%
	LESL	F	0.0%	0.03%	0.0%
	LGIH	C	0.01%	0.12%	0.01%
	LGND	B	0.01%	0.1%	0.01%
	LKFN	B	0.0%	0.09%	0.0%
	LNC	C	0.05%	0.3%	0.05%
	LNN	D	0.0%	0.07%	0.0%
	LPG	F	0.01%	0.07%	0.01%
	LQDT	C	0.0%	0.03%	0.0%
	LRN	B	0.01%	0.18%	0.01%
	LTC	A	0.01%	0.09%	0.01%
	LUMN	B	0.05%	0.29%	0.05%
	LXP	B	0.01%	0.16%	0.01%
	LZB	C	0.01%	0.09%	0.01%
	MAC	B	0.01%	0.18%	0.01%
	MATV	B	0.01%	0.05%	0.01%
	MATW	F	0.0%	0.04%	0.0%
	MATX	C	0.02%	0.25%	0.02%
	MC	B	0.01%	0.26%	0.01%
	MCRI	A	0.01%	0.05%	0.01%
	MCW	F	0.0%	0.03%	0.0%
	MCY	B	0.02%	0.09%	0.02%
	MD	B	0.01%	0.05%	0.01%
	MERC	F	0.0%	0.01%	0.0%
	MGEE	B	0.01%	0.17%	0.01%
	MGPI	B	0.0%	0.08%	0.0%
	MGY	D	0.02%	0.25%	0.02%
	MHO	B	0.02%	0.24%	0.02%
	MLI	B	0.03%	0.43%	0.03%
	MLKN	D	0.02%	0.11%	0.02%
	MMI	B	0.01%	0.05%	0.01%
	MMSI	A	0.01%	0.3%	0.01%
	MNRO	D	0.01%	0.04%	0.01%
	MODG	F	0.01%	0.08%	0.01%
	MOG.A	C	0.02%	0.3%	0.02%
	MOV	F	0.0%	0.02%	0.0%
	MPW	C	0.03%	0.14%	0.03%
	MRCY	B	0.01%	0.11%	0.01%
	MRTN	D	0.0%	0.05%	0.0%
	MSEX	B	0.0%	0.06%	0.0%
	MSGS	B	0.01%	0.19%	0.01%
	MTH	B	0.02%	0.39%	0.02%
	MTRN	D	0.0%	0.13%	0.0%
	MTUS	F	0.0%	0.03%	0.0%
	MTX	D	0.01%	0.13%	0.01%
	MXL	F	0.0%	0.05%	0.0%
	MYE	D	0.0%	0.03%	0.0%
	MYGN	B	0.01%	0.14%	0.01%
	MYRG	F	0.01%	0.09%	0.01%
	NABL	D	0.0%	0.05%	0.0%
	NARI	D	0.0%	0.12%	0.0%
	NATL	D	0.02%	0.11%	0.02%
	NAVI	C	0.01%	0.07%	0.01%
	NBHC	B	0.01%	0.09%	0.01%
	NBR	F	0.01%	0.04%	0.01%
	NBTB	B	0.01%	0.12%	0.01%
	NEO	B	0.0%	0.11%	0.0%
	NGVT	F	0.01%	0.07%	0.01%
	NHC	B	0.01%	0.1%	0.01%
	NMIH	B	0.01%	0.18%	0.01%
	NOG	D	0.03%	0.2%	0.03%
	NPK	D	0.0%	0.02%	0.0%
	NPO	D	0.01%	0.18%	0.01%
	NSIT	C	0.02%	0.32%	0.02%
	NTCT	C	0.0%	0.08%	0.0%
	NUS	F	0.0%	0.02%	0.0%
	NVEE	F	0.0%	0.07%	0.0%
	NVRI	C	0.01%	0.05%	0.01%
	NWBI	B	0.02%	0.09%	0.02%
	NWL	A	0.03%	0.15%	0.03%
	NWN	B	0.01%	0.08%	0.01%
	NX	D	0.0%	0.07%	0.0%
	NXRT	B	0.0%	0.06%	0.0%
	ODP	F	0.01%	0.05%	0.01%
	OFG	B	0.01%	0.12%	0.01%
	OGN	C	0.05%	0.31%	0.05%
	OI	C	0.02%	0.11%	0.02%
	OII	C	0.01%	0.15%	0.01%
	OMCL	A	0.01%	0.11%	0.01%
	OMI	C	0.01%	0.06%	0.01%
	OSIS	C	0.01%	0.12%	0.01%
	OTTR	D	0.01%	0.19%	0.01%
	OUT	B	0.01%	0.13%	0.01%
	OXM	F	0.0%	0.07%	0.0%
	PAHC	B	0.0%	0.02%	0.0%
	PARR	F	0.01%	0.06%	0.01%
	PATK	B	0.01%	0.15%	0.01%
	PBH	A	0.01%	0.2%	0.01%
	PBI	C	0.01%	0.06%	0.01%
	PCRX	F	0.0%	0.04%	0.0%
	PDCO	F	0.02%	0.1%	0.02%
	PEB	D	0.01%	0.08%	0.01%
	PECO	A	0.01%	0.25%	0.01%
	PENN	F	0.03%	0.15%	0.03%
	PFBC	C	0.0%	0.05%	0.0%
	PFS	B	0.02%	0.13%	0.02%
	PHIN	B	0.01%	0.12%	0.01%
	PINC	A	0.01%	0.11%	0.01%
	PIPR	B	0.01%	0.23%	0.01%
	PJT	C	0.01%	0.15%	0.01%
	PLAB	F	0.01%	0.08%	0.01%
	PLAY	F	0.0%	0.05%	0.0%
	PLMR	B	0.0%	0.13%	0.0%
	PLUS	B	0.01%	0.14%	0.01%
	PLXS	B	0.01%	0.19%	0.01%
	PMT	C	0.01%	0.07%	0.01%
	POWL	C	0.0%	0.08%	0.0%
	PPBI	C	0.01%	0.13%	0.01%
	PRA	C	0.0%	0.04%	0.0%
	PRAA	D	0.0%	0.05%	0.0%
	PRDO	D	0.01%	0.08%	0.01%
	PRFT	A	0.0%	0.14%	0.0%
	PRG	B	0.02%	0.11%	0.02%
	PRGS	B	0.0%	0.14%	0.0%
	PRK	B	0.01%	0.14%	0.01%
	PRLB	F	0.0%	0.04%	0.0%
	PRVA	D	0.0%	0.12%	0.0%
	PSMT	B	0.01%	0.12%	0.01%
	PTEN	F	0.02%	0.15%	0.02%
	PUMP	F	0.01%	0.04%	0.01%
	PZZA	C	0.0%	0.09%	0.0%
	QNST	B	0.0%	0.05%	0.0%
	RAMP	F	0.0%	0.09%	0.0%
	RC	F	0.01%	0.07%	0.01%
	RCUS	C	0.0%	0.05%	0.0%
	RDN	B	0.03%	0.29%	0.03%
	RDNT	B	0.01%	0.24%	0.01%
	RES	F	0.01%	0.03%	0.01%
	REX	F	0.0%	0.04%	0.0%
	REZI	D	0.02%	0.16%	0.02%
	RGNX	F	0.0%	0.03%	0.0%
	RGR	F	0.0%	0.04%	0.0%
	RHI	D	0.02%	0.35%	0.02%
	RILY	F	0.0%	0.0%	0.0%
	RNST	C	0.02%	0.12%	0.02%
	ROCK	D	0.0%	0.11%	0.0%
	ROG	F	0.0%	0.1%	0.0%
	ROIC	B	0.01%	0.11%	0.01%
	RUN	B	0.02%	0.25%	0.02%
	RUSHA	C	0.02%	0.18%	0.02%
	RWT	B	0.01%	0.05%	0.01%
	RXO	D	0.01%	0.18%	0.01%
	SABR	F	0.01%	0.06%	0.01%
	SAFT	B	0.01%	0.07%	0.01%
	SAH	C	0.01%	0.05%	0.01%
	SANM	D	0.03%	0.21%	0.03%
	SATS	A	0.02%	0.13%	0.02%
	SBCF	B	0.01%	0.12%	0.01%
	SBH	B	0.01%	0.07%	0.01%
	SBSI	B	0.01%	0.05%	0.01%
	SCHL	D	0.01%	0.04%	0.01%
	SCL	D	0.01%	0.09%	0.01%
	SCSC	C	0.01%	0.07%	0.01%
	SCVL	B	0.01%	0.04%	0.01%
	SEDG	F	0.0%	0.08%	0.0%
	SEE	D	0.01%	0.27%	0.01%
	SEM	D	0.02%	0.21%	0.02%
	SFBS	B	0.01%	0.21%	0.01%
	SFNC	B	0.02%	0.14%	0.02%
	SGH	F	0.0%	0.06%	0.0%
	SHAK	C	0.01%	0.21%	0.01%
	SHEN	F	0.0%	0.04%	0.0%
	SHO	D	0.01%	0.11%	0.01%
	SHOO	C	0.01%	0.17%	0.01%
	SIG	F	0.02%	0.2%	0.02%
	SITM	C	0.0%	0.13%	0.0%
	SJW	A	0.0%	0.09%	0.0%
	SKT	A	0.01%	0.18%	0.01%
	SKYW	D	0.02%	0.16%	0.02%
	SLG	B	0.02%	0.23%	0.02%
	SLVM	B	0.01%	0.15%	0.01%
	SM	D	0.03%	0.29%	0.03%
	SMP	C	0.0%	0.03%	0.0%
	SMPL	D	0.01%	0.16%	0.01%
	SMTC	B	0.0%	0.15%	0.0%
	SNCY	D	0.0%	0.02%	0.0%
	SNEX	C	0.02%	0.12%	0.02%
	SONO	F	0.0%	0.08%	0.0%
	SPNT	B	0.02%	0.07%	0.02%
	SPSC	D	0.0%	0.4%	0.0%
	SPTN	A	0.01%	0.04%	0.01%
	SSTK	F	0.0%	0.04%	0.0%
	STAA	F	0.0%	0.09%	0.0%
	STBA	B	0.01%	0.09%	0.01%
	STC	B	0.01%	0.11%	0.01%
	STRA	D	0.01%	0.12%	0.01%
	SUPN	B	0.0%	0.1%	0.0%
	SVC	D	0.01%	0.04%	0.01%
	SXC	F	0.01%	0.04%	0.01%
	SXI	C	0.0%	0.11%	0.0%
	SXT	C	0.01%	0.18%	0.01%
	TALO	F	0.02%	0.1%	0.02%
	TBBK	B	0.01%	0.14%	0.01%
	TDS	B	0.02%	0.13%	0.02%
	TGI	D	0.0%	0.06%	0.0%
	THRM	D	0.0%	0.09%	0.0%
	THRY	D	0.0%	0.03%	0.0%
	THS	A	0.01%	0.1%	0.01%
	TILE	B	0.0%	0.06%	0.0%
	TMP	B	0.01%	0.04%	0.01%
	TNC	D	0.0%	0.1%	0.0%
	TNDM	B	0.0%	0.16%	0.0%
	TPH	B	0.02%	0.23%	0.02%
	TR	A	0.0%	0.03%	0.0%
	TRIP	F	0.0%	0.08%	0.0%
	TRMK	B	0.01%	0.11%	0.01%
	TRN	C	0.02%	0.15%	0.02%
	TRST	B	0.01%	0.04%	0.01%
	TRUP	B	0.0%	0.09%	0.0%
	TTGT	F	0.0%	0.04%	0.0%
	TTMI	D	0.01%	0.11%	0.01%
	TWI	D	0.01%	0.02%	0.01%
	UCBI	B	0.01%	0.2%	0.01%
	UCTT	F	0.01%	0.09%	0.01%
	UE	B	0.01%	0.13%	0.01%
	UFCS	D	0.0%	0.02%	0.0%
	UHT	A	0.0%	0.03%	0.0%
	UNF	C	0.01%	0.15%	0.01%
	UNFI	A	0.01%	0.05%	0.01%
	UNIT	A	0.0%	0.06%	0.0%
	URBN	D	0.02%	0.11%	0.02%
	USNA	F	0.0%	0.02%	0.0%
	USPH	D	0.0%	0.07%	0.0%
	UTL	B	0.0%	0.05%	0.0%
	UVV	B	0.01%	0.07%	0.01%
	VBTX	B	0.01%	0.07%	0.01%
	VCEL	C	0.0%	0.14%	0.0%
	VECO	F	0.0%	0.11%	0.0%
	VFC	B	0.05%	0.33%	0.05%
	VGR	B	0.02%	0.11%	0.02%
	VIAV	C	0.0%	0.1%	0.0%
	VICR	D	0.0%	0.05%	0.0%
	VIR	F	0.01%	0.04%	0.01%
	VREX	F	0.0%	0.03%	0.0%
	VRRM	D	0.0%	0.25%	0.0%
	VRTS	D	0.0%	0.08%	0.0%
	VSAT	D	0.01%	0.06%	0.01%
	VSCO	A	0.02%	0.11%	0.02%
	VSTO	C	0.01%	0.12%	0.01%
	VSTS	C	0.02%	0.1%	0.02%
	VTOL	C	0.0%	0.05%	0.0%
	VVI	D	0.0%	0.04%	0.0%
	WABC	C	0.0%	0.07%	0.0%
	WAFD	B	0.02%	0.13%	0.02%
	WD	B	0.01%	0.19%	0.01%
	WDFC	A	0.0%	0.19%	0.0%
	WERN	D	0.01%	0.13%	0.01%
	WGO	D	0.01%	0.09%	0.01%
	WNC	F	0.0%	0.05%	0.0%
	WOR	F	0.01%	0.07%	0.01%
	WRLD	D	0.01%	0.02%	0.01%
	WS	D	0.01%	0.06%	0.01%
	WSFS	C	0.01%	0.18%	0.01%
	WSR	D	0.0%	0.03%	0.0%
	WWW	A	0.01%	0.06%	0.01%
	XHR	D	0.01%	0.08%	0.01%
	XNCR	F	0.0%	0.06%	0.0%
	XPEL	C	0.0%	0.05%	0.0%
	XRX	D	0.01%	0.07%	0.01%
	YELP	F	0.01%	0.13%	0.01%
	ZEUS	F	0.0%	0.02%	0.0%

VLU Overweight 873 Positions Relative to SAA

	Symbol	Grade	Weight
	BRK.A	B	2.49%
	AAPL	C	2.41%
	XOM	C	2.06%
	AMZN	D	1.77%
	WMT	A	1.7%
	META	C	1.65%
	VZ	B	1.58%
	MSFT	D	1.47%
	JPM	B	1.46%
	BAC	D	1.42%
	CVX	F	1.31%
	T	A	1.28%
	UNH	A	1.2%
	GOOG	D	1.17%
	C	D	1.06%
	WFC	D	1.04%
	JNJ	B	0.87%
	PFE	D	0.85%
	GOOGL	D	0.72%
	CVS	F	0.65%
	CMCSA	C	0.62%
	PM	A	0.56%
	GS	C	0.54%
	MPC	D	0.54%
	TFC	B	0.53%
	PSX	D	0.52%
	MS	C	0.51%
	GM	B	0.51%
	PG	A	0.51%
	HD	B	0.5%
	COF	C	0.5%
	RTX	B	0.48%
	CSCO	B	0.46%
	ABBV	B	0.46%
	KO	B	0.44%
	COP	D	0.43%
	VLO	D	0.42%
	IBM	A	0.42%
	TSLA	D	0.42%
	ELV	B	0.42%
	MET	B	0.41%
	TMUS	B	0.41%
	AVGO	D	0.4%
	CI	B	0.4%
	PRU	C	0.39%
	V	A	0.39%
	F	D	0.39%
	CNC	D	0.38%
	PNC	B	0.38%
	NEE	A	0.38%
	USB	B	0.38%
	MCK	D	0.38%
	MRK	D	0.38%
	PEP	A	0.38%
	UPS	F	0.37%
	KMI	B	0.37%
	CB	A	0.37%
	LMT	A	0.36%
	MO	A	0.36%
	MDT	A	0.35%
	ORCL	A	0.35%
	NVDA	D	0.34%
	AXP	B	0.34%
	DUK	A	0.34%
	BMY	B	0.33%
	CHTR	C	0.32%
	GILD	A	0.32%
	KR	C	0.32%
	SO	A	0.31%
	ACN	A	0.31%
	MMM	B	0.29%
	COST	B	0.29%
	AMGN	C	0.28%
	FDX	D	0.27%
	ADM	D	0.27%
	HPQ	D	0.27%
	GE	C	0.27%
	INTC	F	0.27%
	DIS	F	0.26%
	AIG	D	0.26%
	BK	B	0.26%
	EOG	D	0.25%
	LLY	B	0.25%
	ABT	A	0.25%
	TXN	C	0.25%
	KHC	A	0.25%
	DAL	D	0.24%
	TGT	B	0.24%
	CAH	A	0.24%
	D	A	0.24%
	UNP	B	0.24%
	QCOM	F	0.24%
	CRM	D	0.23%
	LOW	B	0.23%
	HCA	B	0.23%
	CAT	C	0.23%
	KVUE	A	0.22%
	DE	B	0.22%
	SCHW	D	0.22%
	SW	D	0.22%
	HPE	D	0.22%
	HUM	D	0.22%
	AFL	B	0.22%
	LYB	D	0.22%
	LIN	B	0.21%
	MDLZ	A	0.21%
	HON	D	0.21%
	DOW	D	0.2%
	ADBE	B	0.2%
	EXC	A	0.2%
	BLK	B	0.2%
	GD	B	0.2%
	OXY	F	0.2%
	NEM	B	0.18%
	CFG	B	0.18%
	DD	C	0.18%
	SYF	C	0.18%
	TMO	A	0.18%
	PGR	A	0.18%
	PYPL	B	0.17%
	NFLX	B	0.17%
	TRV	A	0.17%
	SRE	B	0.17%
	TSN	A	0.17%
	AEP	A	0.17%
	TJX	B	0.17%
	BA	F	0.16%
	MCD	A	0.16%
	PLD	B	0.16%
	PFG	D	0.16%
	WBD	D	0.16%
	REGN	B	0.16%
	NOC	B	0.16%
	WMB	B	0.16%
	ALL	B	0.16%
	LEN	B	0.15%
	MTB	B	0.15%
	DVN	F	0.15%
	CCL	D	0.15%
	IP	B	0.15%
	BBY	A	0.15%
	AMT	A	0.15%
	LUV	A	0.15%
	AMD	F	0.14%
	ACGL	B	0.14%
	APD	B	0.14%
	ED	A	0.14%
	EMR	D	0.14%
	KEY	B	0.14%
	JCI	C	0.14%
	SLB	F	0.14%
	ADI	C	0.14%
	SBUX	B	0.14%
	SPGI	A	0.13%
	DHI	B	0.13%
	MA	B	0.13%
	VTRS	C	0.13%
	RGA	B	0.13%
	DHR	B	0.13%
	ETR	A	0.13%
	PEG	B	0.13%
	XEL	A	0.13%
	BG	D	0.13%
	STT	B	0.13%
	L	B	0.13%
	MU	F	0.13%
	DFS	C	0.13%
	HIG	B	0.13%
	NKE	C	0.13%
	WELL	A	0.12%
	ICE	A	0.12%
	OKE	A	0.12%
	PCG	A	0.12%
	NUE	F	0.12%
	GIS	A	0.12%
	UAL	C	0.12%
	CMI	B	0.12%
	KDP	A	0.12%
	O	A	0.12%
	NSC	B	0.12%
	AMAT	F	0.12%
	SYY	A	0.12%
	MMC	A	0.12%
	BSX	A	0.11%
	CSX	D	0.11%
	ETN	D	0.11%
	EIX	A	0.11%
	PCAR	D	0.11%
	CL	A	0.11%
	HBAN	B	0.11%
	RF	B	0.11%
	KMB	A	0.11%
	CTSH	B	0.11%
	CCI	A	0.11%
	FITB	B	0.11%
	BX	B	0.11%
	VRTX	D	0.11%
	FANG	D	0.11%
	WEC	A	0.1%
	GLW	C	0.1%
	BIIB	D	0.1%
	WM	D	0.1%
	LHX	C	0.1%
	ISRG	B	0.1%
	OVV	F	0.1%
	AMP	B	0.1%
	VICI	A	0.1%
	DTE	B	0.1%
	EQT	D	0.1%
	TEL	C	0.1%
	BKR	D	0.1%
	ALLY	C	0.1%
	FIS	A	0.1%
	CME	A	0.1%
	PFGC	B	0.1%
	AEE	A	0.09%
	MRO	C	0.09%
	PH	B	0.09%
	CTVA	B	0.09%
	SYK	A	0.09%
	EG	B	0.09%
	SNX	D	0.09%
	EBAY	A	0.09%
	FOXA	B	0.09%
	TAP	C	0.09%
	UNM	B	0.09%
	ITW	C	0.09%
	PPL	A	0.09%
	ES	A	0.09%
	BDX	D	0.09%
	RSG	B	0.09%
	BKNG	C	0.09%
	X	F	0.08%
	AFG	A	0.08%
	CBRE	B	0.08%
	CAG	A	0.08%
	FNF	B	0.08%
	CARR	B	0.08%
	DG	F	0.08%
	VTR	A	0.08%
	MAR	D	0.08%
	NXPI	D	0.08%
	HAL	F	0.08%
	CHRD	F	0.08%
	LRCX	F	0.08%
	K	A	0.08%
	EQR	B	0.08%
	ADP	B	0.08%
	MOS	F	0.08%
	FCX	D	0.08%
	HRL	A	0.08%
	UBER	B	0.08%
	WTW	A	0.07%
	ZION	C	0.07%
	DINO	F	0.07%
	WY	C	0.07%
	PPG	D	0.07%
	URI	C	0.07%
	CINF	B	0.07%
	ANET	D	0.07%
	CNP	D	0.07%
	AON	A	0.07%
	AZO	B	0.07%
	EQH	C	0.07%
	IVZ	C	0.07%
	USFD	B	0.07%
	BWA	D	0.07%
	EVRG	A	0.07%
	STLD	D	0.07%
	TROW	D	0.07%
	EQIX	B	0.07%
	TRGP	A	0.07%
	NTRS	B	0.07%
	CHK	F	0.07%
	PSA	A	0.07%
	AVB	B	0.07%
	LAD	C	0.07%
	TT	B	0.07%
	FE	A	0.07%
	MHK	B	0.07%
	DVA	B	0.07%
	ORLY	B	0.07%
	STWD	C	0.06%
	DGX	B	0.06%
	BXP	A	0.06%
	R	C	0.06%
	UHS	B	0.06%
	LVS	D	0.06%
	DLTR	F	0.06%
	IQV	B	0.06%
	NVR	B	0.06%
	INTU	D	0.06%
	ABNB	F	0.06%
	AJG	A	0.06%
	NI	A	0.06%
	GPC	D	0.06%
	CMS	A	0.06%
	LEA	F	0.06%
	CTRA	F	0.06%
	AAL	C	0.06%
	HES	F	0.06%
	IFF	A	0.06%
	WBA	F	0.06%
	SWK	B	0.06%
	GRMN	B	0.06%
	KLAC	D	0.06%
	AWK	A	0.06%
	SWN	F	0.06%
	CF	B	0.06%
	APH	D	0.06%
	SPG	B	0.06%
	GPN	C	0.06%
	SHW	B	0.06%
	PANW	B	0.06%
	BAX	A	0.06%
	CHRW	B	0.06%
	HSY	A	0.06%
	VST	C	0.06%
	AMCR	B	0.06%
	ATO	A	0.06%
	PHM	B	0.06%
	OMC	B	0.06%
	APTV	D	0.06%
	ROST	B	0.06%
	RCL	C	0.06%
	ARW	B	0.06%
	THC	B	0.06%
	NDAQ	A	0.06%
	JBL	F	0.05%
	FOX	B	0.05%
	SNPS	D	0.05%
	EMN	C	0.05%
	EWBC	C	0.05%
	MOH	C	0.05%
	PARA	F	0.05%
	UGI	C	0.05%
	INVH	B	0.05%
	COLB	B	0.05%
	JLL	B	0.05%
	ECL	B	0.05%
	EA	C	0.05%
	RS	D	0.05%
	LDOS	B	0.05%
	EL	F	0.05%
	FHN	C	0.05%
	ORI	B	0.05%
	SJM	A	0.05%
	ZTS	A	0.05%
	AES	D	0.05%
	TOL	B	0.05%
	GWW	C	0.05%
	ARMK	A	0.05%
	MUR	F	0.05%
	BLDR	C	0.05%
	MGM	F	0.05%
	VNO	B	0.05%
	RJF	D	0.05%
	EXR	B	0.05%
	NRG	C	0.05%
	MNST	D	0.05%
	CIVI	F	0.05%
	WHR	D	0.05%
	ON	D	0.05%
	SWKS	D	0.05%
	CPB	A	0.05%
	JEF	B	0.05%
	PNW	A	0.05%
	WPC	A	0.05%
	DOC	B	0.05%
	STZ	B	0.05%
	ZBH	D	0.05%
	KMX	C	0.05%
	WRB	B	0.05%
	BEN	F	0.05%
	MCHP	D	0.05%
	ARE	D	0.05%
	RNR	A	0.05%
	APA	F	0.05%
	PAYX	B	0.05%
	ROP	C	0.05%
	NOW	B	0.05%
	SNV	C	0.04%
	CEG	D	0.04%
	VLY	C	0.04%
	KIM	A	0.04%
	BRO	A	0.04%
	BKH	A	0.04%
	TSCO	B	0.04%
	DLR	D	0.04%
	HWM	B	0.04%
	LKQ	D	0.04%
	TKO	B	0.04%
	CPAY	B	0.04%
	VOYA	B	0.04%
	TMHC	B	0.04%
	WCC	D	0.04%
	A	B	0.04%
	KRC	B	0.04%
	FTNT	B	0.04%
	MUSA	B	0.04%
	CNX	B	0.04%
	UTHR	B	0.04%
	OHI	A	0.04%
	M	F	0.04%
	WU	C	0.04%
	CDW	D	0.04%
	EW	F	0.04%
	REG	A	0.04%
	ROK	D	0.04%
	AR	F	0.04%
	EXPD	D	0.04%
	CPT	B	0.04%
	WAB	B	0.04%
	EXPE	C	0.04%
	CTAS	B	0.04%
	J	C	0.04%
	AIZ	B	0.04%
	HST	D	0.04%
	DKS	C	0.04%
	TXT	D	0.04%
	ALB	F	0.04%
	BERY	B	0.04%
	OZK	D	0.04%
	AN	C	0.04%
	IPG	B	0.04%
	WLK	D	0.04%
	MSI	B	0.04%
	LNT	A	0.04%
	PKG	B	0.04%
	CE	F	0.04%
	CMG	D	0.04%
	STX	D	0.04%
	NTAP	D	0.04%
	MAA	B	0.04%
	OC	D	0.04%
	DRI	A	0.04%
	IRM	B	0.04%
	JHG	B	0.04%
	ESS	B	0.04%
	IBKR	B	0.04%
	MKC	A	0.04%
	BALL	A	0.04%
	MCO	B	0.04%
	AVT	C	0.04%
	WDC	D	0.04%
	GLPI	A	0.04%
	NCLH	D	0.03%
	HOLX	A	0.03%
	CUZ	A	0.03%
	CR	C	0.03%
	CSL	C	0.03%
	CUBE	A	0.03%
	CLH	C	0.03%
	DAR	D	0.03%
	HUBB	C	0.03%
	RL	A	0.03%
	BHF	D	0.03%
	MTZ	C	0.03%
	CZR	D	0.03%
	BIO	A	0.03%
	RMD	A	0.03%
	CLF	F	0.03%
	MDU	D	0.03%
	CSGP	C	0.03%
	HWC	C	0.03%
	MTG	B	0.03%
	ILMN	B	0.03%
	GHC	C	0.03%
	LULU	F	0.03%
	BRX	A	0.03%
	MAS	B	0.03%
	FNB	C	0.03%
	MTDR	F	0.03%
	FLR	C	0.03%
	NOV	F	0.03%
	AMH	A	0.03%
	SON	A	0.03%
	HOG	B	0.03%
	ULTA	D	0.03%
	GEHC	B	0.03%
	KD	D	0.03%
	HRB	B	0.03%
	BURL	B	0.03%
	NNN	A	0.03%
	RRC	F	0.03%
	XYL	D	0.03%
	PK	D	0.03%
	VMC	D	0.03%
	NFG	B	0.03%
	NXST	D	0.03%
	ODFL	D	0.03%
	PB	B	0.03%
	MLM	D	0.03%
	WTRG	D	0.03%
	JNPR	A	0.03%
	SF	C	0.03%
	IT	B	0.03%
	HAS	B	0.03%
	HSIC	C	0.03%
	OGE	B	0.03%
	AGCO	F	0.03%
	GDDY	C	0.03%
	PAG	C	0.03%
	GPK	B	0.03%
	CHD	A	0.03%
	SKX	B	0.03%
	THO	C	0.03%
	ACM	B	0.03%
	ASB	C	0.03%
	XPO	D	0.03%
	POST	B	0.03%
	AMKR	F	0.03%
	UDR	B	0.03%
	AA	F	0.03%
	TPR	B	0.03%
	CLX	A	0.03%
	ADSK	B	0.03%
	TDY	B	0.03%
	NWSA	C	0.03%
	SNA	D	0.03%
	LYV	D	0.03%
	CNXC	C	0.03%
	ONB	C	0.03%
	AKAM	D	0.03%
	PBF	F	0.03%
	FMC	C	0.03%
	CMC	D	0.03%
	MAN	D	0.03%
	BJ	D	0.03%
	CASY	C	0.03%
	CBOE	A	0.03%
	JBHT	C	0.03%
	WSO	D	0.03%
	HII	B	0.03%
	FTV	D	0.03%
	FYBR	A	0.03%
	KNX	D	0.03%
	CACI	B	0.03%
	FSLR	C	0.03%
	DOV	C	0.03%
	FAF	A	0.03%
	CNO	B	0.03%
	AME	D	0.03%
	GL	B	0.03%
	OGS	B	0.03%
	YUM	B	0.03%
	CPRT	D	0.03%
	WBS	D	0.03%
	INGR	A	0.03%
	OTIS	D	0.03%
	PWR	C	0.03%
	KEYS	C	0.03%
	MRNA	F	0.03%
	FAST	D	0.03%
	CCK	A	0.03%
	COLM	B	0.02%
	RGLD	C	0.02%
	ENPH	D	0.02%
	GATX	C	0.02%
	EEFT	D	0.02%
	FRT	A	0.02%
	CPRI	C	0.02%
	ALLE	B	0.02%
	CAR	F	0.02%
	AXTA	C	0.02%
	SLM	D	0.02%
	KBR	C	0.02%
	BYD	B	0.02%
	EXEL	B	0.02%
	ASH	D	0.02%
	SIGI	D	0.02%
	MTN	C	0.02%
	NVT	F	0.02%
	VVV	D	0.02%
	STAG	B	0.02%
	MIDD	D	0.02%
	FR	B	0.02%
	MTCH	B	0.02%
	TTEK	B	0.02%
	WYNN	D	0.02%
	GEF	D	0.02%
	CRUS	C	0.02%
	AOS	D	0.02%
	KRG	B	0.02%
	ELS	A	0.02%
	CBT	B	0.02%
	MSM	D	0.02%
	MMS	C	0.02%
	IDA	A	0.02%
	BLD	D	0.02%
	TKR	D	0.02%
	GXO	D	0.02%
	NWE	A	0.02%
	RRX	D	0.02%
	GBCI	B	0.02%
	FLO	A	0.02%
	WWD	D	0.02%
	GME	C	0.02%
	UMBF	B	0.02%
	NDSN	C	0.02%
	POR	B	0.02%
	PPC	B	0.02%
	REXR	B	0.02%
	TFX	A	0.02%
	LII	C	0.02%
	VLTO	B	0.02%
	PTC	D	0.02%
	CIEN	B	0.02%
	EVR	B	0.02%
	PNM	A	0.02%
	PRI	B	0.02%
	ADNT	F	0.02%
	BC	D	0.02%
	COTY	F	0.02%
	HLT	C	0.02%
	SR	B	0.02%
	TTWO	B	0.02%
	ALE	A	0.02%
	TRMB	D	0.02%
	ST	D	0.02%
	WAT	B	0.02%
	CROX	C	0.02%
	CW	B	0.02%
	SWX	D	0.02%
	PNR	B	0.02%
	TER	D	0.02%
	PVH	F	0.02%
	TCBI	A	0.02%
	GNRC	C	0.02%
	AM	C	0.02%
	RPM	A	0.02%
	SBAC	A	0.02%
	SAIC	B	0.02%
	AVNT	B	0.02%
	CG	D	0.02%
	THG	A	0.02%
	TYL	A	0.02%
	HOMB	B	0.02%
	SBRA	A	0.02%
	ERIE	A	0.02%
	EHC	B	0.02%
	DECK	C	0.02%
	CBSH	B	0.02%
	OLN	F	0.02%
	IBOC	C	0.02%
	IR	D	0.02%
	KEX	D	0.02%
	FFIV	B	0.02%
	EFX	B	0.02%
	PRGO	C	0.02%
	G	B	0.02%
	CFR	C	0.02%
	JWN	A	0.02%
	MTD	C	0.02%
	TDG	B	0.02%
	BBWI	F	0.02%
	H	C	0.02%
	ADC	A	0.02%
	SLGN	B	0.02%
	DTM	B	0.02%
	UFPI	D	0.02%
	ESNT	B	0.02%
	ZBRA	C	0.02%
	WFRD	F	0.02%
	LNW	B	0.02%
	LAMR	B	0.02%
	COKE	B	0.02%
	BR	C	0.02%
	AMG	C	0.02%
	OSK	D	0.02%
	COHR	C	0.02%
	VRSN	C	0.02%
	WTFC	B	0.02%
	UBSI	B	0.02%
	IDXX	D	0.02%
	CADE	C	0.02%
	INCY	C	0.02%
	PII	D	0.02%
	WSM	D	0.02%
	SCI	B	0.02%
	AVY	B	0.02%
	SFM	B	0.02%
	EME	C	0.02%
	PR	D	0.02%
	CDNS	D	0.02%
	QRVO	D	0.02%
	ALGN	F	0.02%
	KBH	B	0.02%
	JAZZ	D	0.02%
	GT	F	0.02%
	SSB	B	0.02%
	STE	A	0.02%
	ANSS	D	0.02%
	PNFP	B	0.02%
	TGNA	D	0.02%
	ALV	D	0.02%
	NEOG	D	0.01%
	BRKR	C	0.01%
	HAE	F	0.01%
	ESAB	D	0.01%
	CVLT	B	0.01%
	KNF	C	0.01%
	CHE	C	0.01%
	MSA	D	0.01%
	CHH	C	0.01%
	TDC	F	0.01%
	ZD	F	0.01%
	PAYC	D	0.01%
	HQY	D	0.01%
	EXP	B	0.01%
	WST	D	0.01%
	OLED	D	0.01%
	RCM	B	0.01%
	BRBR	A	0.01%
	PCTY	C	0.01%
	TPX	D	0.01%
	CGNX	D	0.01%
	SYNA	F	0.01%
	MASI	D	0.01%
	MORN	C	0.01%
	RGEN	C	0.01%
	HXL	F	0.01%
	RYN	B	0.01%
	GTLS	F	0.01%
	TREX	F	0.01%
	LANC	D	0.01%
	DAY	C	0.01%
	BDC	B	0.01%
	EXLS	B	0.01%
	AMED	B	0.01%
	MEDP	D	0.01%
	NOVT	C	0.01%
	WEN	C	0.01%
	IPGP	F	0.01%
	DOCS	B	0.01%
	VNT	F	0.01%
	ONTO	D	0.01%
	MTSI	D	0.01%
	VC	F	0.01%
	SAIA	D	0.01%
	PODD	A	0.01%
	HALO	B	0.01%
	FND	C	0.01%
	BWXT	C	0.01%
	ORA	C	0.01%
	SSD	D	0.01%
	ENOV	D	0.01%
	CRI	C	0.01%
	DT	A	0.01%
	ANF	D	0.01%
	NBIX	D	0.01%
	ETSY	F	0.01%
	DLB	F	0.01%
	DXCM	F	0.01%
	RH	F	0.01%
	WTS	D	0.01%
	HGV	D	0.01%
	SHC	A	0.01%
	NSP	F	0.01%
	CHX	D	0.01%
	IRT	B	0.01%
	NWS	C	0.01%
	PCH	C	0.01%
	MKSI	F	0.01%
	LOPE	D	0.01%
	RLI	B	0.01%
	WMS	D	0.01%
	WH	A	0.01%
	DPZ	D	0.01%
	LNTH	C	0.01%
	MKTX	A	0.01%
	NEU	D	0.01%
	ROL	B	0.01%
	FFIN	B	0.01%
	FHI	B	0.01%
	MAT	C	0.01%
	POOL	C	0.01%
	NYT	C	0.01%
	EGP	B	0.01%
	XRAY	D	0.01%
	LW	D	0.01%
	OLLI	D	0.01%
	NSA	A	0.01%
	OPCH	A	0.01%
	RBC	C	0.01%
	TEX	D	0.01%
	SMG	C	0.01%
	AXON	B	0.01%
	LITE	C	0.01%
	GGG	D	0.01%
	EPR	B	0.01%
	CNM	F	0.01%
	AYI	C	0.01%
	NVST	C	0.01%
	LECO	F	0.01%
	VAL	F	0.01%
	FDS	C	0.01%
	VAC	F	0.01%
	SRCL	A	0.01%
	LSTR	D	0.01%
	AIT	C	0.01%
	FIX	C	0.01%
	WEX	C	0.01%
	FICO	A	0.01%
	FCN	C	0.01%
	TTC	D	0.01%
	UA	B	0.01%
	VRSK	C	0.01%
	HLI	B	0.01%
	IEX	D	0.01%
	UAA	B	0.01%
	CRL	F	0.01%
	BCO	B	0.01%
	EPAM	C	0.01%
	DCI	C	0.01%
	MSCI	B	0.01%
	ATR	A	0.01%
	VMI	C	0.01%
	SMCI	F	0.01%
	JKHY	B	0.01%
	PSTG	F	0.01%
	DBX	D	0.01%
	MPWR	C	0.01%
	GNTX	D	0.01%
	CHDN	D	0.01%
	ASGN	D	0.01%
	ENS	D	0.01%
	GMED	C	0.01%
	LFUS	C	0.01%
	ACHC	B	0.01%
	ITT	C	0.01%
	CTLT	A	0.01%
	TNL	D	0.01%
	LPX	B	0.01%
	VSH	F	0.01%
	FLS	C	0.01%
	CC	F	0.01%
	KMPR	C	0.01%
	NJR	A	0.01%
	TXRH	D	0.01%
	SEIC	D	0.01%
	WOLF	F	0.0%
	AAON	C	0.0%
	PGNY	D	0.0%
	ARWR	F	0.0%
	CELH	F	0.0%
	ELF	F	0.0%
	PEN	C	0.0%
	CYTK	F	0.0%
	SLAB	D	0.0%
	WING	C	0.0%
	IRDM	D	0.0%
	YETI	D	0.0%
	QLYS	F	0.0%
	POWI	F	0.0%
	KNSL	B	0.0%
	LIVN	D	0.0%
	LSCC	F	0.0%
	BLKB	B	0.0%
	RMBS	F	0.0%
	MANH	B	0.0%
	EXPO	B	0.0%
	CACC	F	0.0%
	HELE	D	0.0%
	SAM	D	0.0%
	PLNT	A	0.0%
	MP	C	0.0%
	ZI	F	0.0%
	FIVE	F	0.0%
	AZTA	F	0.0%
	SOLV	B	0.0%
	TECH	D	0.0%
	ALGM	F	0.0%

VLU Underweight 29 Positions Relative to SAA

	Symbol	Grade	Weight
	KRYS	D	-0.28%
	MARA	F	-0.25%
	TDW	F	-0.23%
	WHD	C	-0.21%
	GTES	C	-0.2%
	IAC	C	-0.19%
	VIRT	A	-0.15%
	STEP	B	-0.15%
	PTGX	B	-0.14%
	BL	D	-0.14%
	UFPT	B	-0.13%
	GSHD	A	-0.12%
	CNS	B	-0.12%
	DOCN	B	-0.11%
	LMAT	B	-0.1%
	HAYW	B	-0.1%
	CXM	F	-0.06%
	SDGR	F	-0.06%
	ARLO	F	-0.06%
	BLFS	B	-0.05%
	ATEN	D	-0.05%
	PDFS	D	-0.05%
	ANIP	D	-0.05%
	SNDR	B	-0.05%
	SWI	B	-0.04%
	HSTM	C	-0.04%
	MLAB	B	-0.04%
	CTKB	F	-0.03%
	SLP	F	-0.03%

VLU: Top Represented Industries & Keywords

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

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 Clothing Commercial Banking

SAA: Top Represented Industries & Keywords

Industries: Banks - Regional - US Biotechnology REIT - Diversified Packaged Foods Diversified Industrials Oil & Gas Equipment & Services Restaurants Software - Application Specialty Chemicals Asset Management REIT - Retail Insurance - Property & Casualty Auto Parts Communication Equipment Drug Manufacturers - Specialty & Generic REIT - Hotel & Motel Software - Infrastructure Specialty Retail Telecom Services Apparel Stores

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