VLU vs. SMLF ETF Comparison

Comparison of SPDR S&P 1500 Value Tilt ETF (VLU) to iShares FactorSelect MSCI USA Small-Cap ETF (SMLF)

VLU

SPDR S&P 1500 Value Tilt ETF

VLU Description

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

Grade (RS Rating)

Last Trade

$182.35

Average Daily Volume

10,232

Number of Holdings ^*

1425

* may have additional holdings in another (foreign) market

SMLF

iShares FactorSelect MSCI USA Small-Cap ETF

SMLF Description

The investment seeks to track the investment results of the MSCI USA Small Cap Diversified Multi-Factor Index (the "underlying index"), which has been developed by MSCI Inc. ("MSCI"). The underlying index is designed to select equity securities from MSCI USA Small Cap Index (the "Parent index") that have high exposure to four investment style factors: value, quality, momentum and low size, while maintaining a level of risk similar to that of the Parent index. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$65.31

Average Daily Volume

77,130

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

Performance

Period	VLU	SMLF
30 Days	1.22%	0.57%
60 Days	5.59%	6.19%
90 Days	6.15%	8.55%
12 Months	30.89%	31.11%

515 Overlapping Holdings

Symbol	Grade	Weight in VLU	Weight in SMLF	Overlap
AA	B	0.04%	0.13%	0.04%
ABG	F	0.04%	0.15%	0.04%
ACA	C	0.01%	0.09%	0.01%
ACHC	F	0.01%	0.07%	0.01%
ACLS	F	0.0%	0.17%	0.0%
ACM	A	0.03%	0.19%	0.03%
AEIS	D	0.01%	0.01%	0.01%
AEO	C	0.01%	0.06%	0.01%
AGCO	D	0.03%	0.22%	0.03%
AGO	B	0.02%	0.24%	0.02%
AGYS	D	0.0%	0.04%	0.0%
AIN	F	0.01%	0.01%	0.01%
AIT	B	0.01%	0.11%	0.01%
AIZ	B	0.04%	0.17%	0.04%
ALGM	F	0.01%	0.01%	0.01%
ALKS	B	0.01%	0.3%	0.01%
ALLE	A	0.02%	0.17%	0.02%
ALRM	F	0.0%	0.03%	0.0%
ALV	F	0.02%	0.08%	0.02%
AM	A	0.02%	0.39%	0.02%
AMBC	F	0.0%	0.05%	0.0%
AMG	B	0.02%	0.23%	0.02%
AMH	D	0.03%	0.26%	0.03%
AMN	F	0.01%	0.06%	0.01%
AMPH	C	0.0%	0.08%	0.0%
AMR	F	0.01%	0.15%	0.01%
AN	D	0.04%	0.27%	0.04%
ANF	F	0.01%	0.32%	0.01%
APA	F	0.05%	0.25%	0.05%
APOG	C	0.01%	0.1%	0.01%
AR	B	0.04%	0.21%	0.04%
ARCB	F	0.01%	0.03%	0.01%
ARCH	D	0.02%	0.03%	0.02%
AROC	B	0.01%	0.11%	0.01%
ARW	C	0.06%	0.22%	0.06%
ARWR	F	0.0%	0.03%	0.0%
ASB	F	0.03%	0.08%	0.03%
ASGN	D	0.01%	0.01%	0.01%
ASH	F	0.01%	0.08%	0.01%
ASO	D	0.02%	0.08%	0.02%
ATI	C	0.02%	0.17%	0.02%
AVAV	B	0.01%	0.05%	0.01%
AVNT	C	0.02%	0.19%	0.02%
AWR	A	0.01%	0.12%	0.01%
AX	D	0.01%	0.0%	0.0%
AXON	A	0.01%	0.45%	0.01%
AXTA	C	0.02%	0.02%	0.02%
AYI	A	0.01%	0.31%	0.01%
BANF	D	0.02%	0.12%	0.02%
BBWI	F	0.02%	0.22%	0.02%
BC	D	0.02%	0.1%	0.02%
BCC	C	0.02%	0.23%	0.02%
BCO	C	0.01%	0.08%	0.01%
BCPC	C	0.01%	0.05%	0.01%
BDC	B	0.01%	0.09%	0.01%
BDN	A	0.01%	0.0%	0.0%
BERY	C	0.04%	0.11%	0.04%
BFH	D	0.02%	0.0%	0.0%
BJ	C	0.03%	0.16%	0.03%
BKE	D	0.01%	0.12%	0.01%
BKH	C	0.04%	0.01%	0.01%
BKU	D	0.03%	0.0%	0.0%
BLD	D	0.02%	0.25%	0.02%
BLKB	C	0.0%	0.13%	0.0%
BLMN	F	0.01%	0.07%	0.01%
BMI	A	0.0%	0.16%	0.0%
BOH	D	0.01%	0.0%	0.0%
BOX	C	0.0%	0.08%	0.0%
BRBR	A	0.01%	0.05%	0.01%
BRC	C	0.01%	0.18%	0.01%
BRKR	D	0.01%	0.19%	0.01%
BRX	C	0.03%	0.37%	0.03%
BSIG	D	0.0%	0.01%	0.0%
BWXT	A	0.01%	0.12%	0.01%
BYD	C	0.02%	0.01%	0.01%
CACI	A	0.03%	0.02%	0.02%
CAKE	B	0.01%	0.01%	0.01%
CAL	F	0.01%	0.09%	0.01%
CALX	D	0.0%	0.03%	0.0%
CAR	F	0.02%	0.08%	0.02%
CARG	C	0.01%	0.1%	0.01%
CARS	F	0.0%	0.08%	0.0%
CASH	D	0.01%	0.0%	0.0%
CASY	D	0.03%	0.06%	0.03%
CBSH	D	0.02%	0.21%	0.02%
CBT	C	0.02%	0.13%	0.02%
CC	D	0.01%	0.06%	0.01%
CDP	A	0.01%	0.03%	0.01%
CEIX	B	0.02%	0.07%	0.02%
CELH	F	0.0%	0.05%	0.0%
CENTA	F	0.01%	0.06%	0.01%
CFFN	F	0.01%	0.04%	0.01%
CFR	D	0.02%	0.21%	0.02%
CHCO	D	0.01%	0.0%	0.0%
CHDN	D	0.01%	0.09%	0.01%
CHE	C	0.01%	0.34%	0.01%
CHK	D	0.15%	0.26%	0.15%
CHRD	F	0.07%	0.03%	0.03%
CHX	C	0.01%	0.12%	0.01%
CIEN	A	0.02%	0.03%	0.02%
CLH	C	0.03%	0.07%	0.03%
CMA	C	0.07%	0.0%	0.0%
CMC	D	0.03%	0.14%	0.03%
CNM	F	0.01%	0.41%	0.01%
CNMD	D	0.0%	0.07%	0.0%
CNO	C	0.03%	0.15%	0.03%
CNX	A	0.04%	0.05%	0.04%
COKE	C	0.03%	0.25%	0.03%
COOP	B	0.05%	0.4%	0.05%
CORT	B	0.01%	0.25%	0.01%
COTY	F	0.02%	0.07%	0.02%
CPRX	C	0.0%	0.22%	0.0%
CR	B	0.02%	0.34%	0.02%
CRC	B	0.02%	0.09%	0.02%
CROX	C	0.02%	0.29%	0.02%
CRS	C	0.02%	0.09%	0.02%
CRUS	D	0.01%	0.14%	0.01%
CSL	A	0.03%	0.42%	0.03%
CUBE	C	0.03%	0.13%	0.03%
CUBI	F	0.0%	0.08%	0.0%
CUZ	C	0.03%	0.08%	0.03%
CVBF	B	0.01%	0.0%	0.0%
CVCO	B	0.01%	0.16%	0.01%
CVI	D	0.01%	0.04%	0.01%
CVLT	C	0.01%	0.07%	0.01%
CW	A	0.02%	0.21%	0.02%
CWEN	C	0.02%	0.18%	0.02%
CWEN	C	0.01%	0.18%	0.01%
CWK	C	0.02%	0.01%	0.01%
CXT	F	0.0%	0.09%	0.0%
CXW	F	0.01%	0.07%	0.01%
CYTK	D	0.0%	0.11%	0.0%
DAN	D	0.01%	0.03%	0.01%
DCI	C	0.01%	0.18%	0.01%
DECK	B	0.02%	0.68%	0.02%
DEI	A	0.03%	0.0%	0.0%
DFIN	D	0.0%	0.12%	0.0%
DINO	D	0.06%	0.01%	0.01%
DKS	D	0.03%	0.42%	0.03%
DLX	F	0.01%	0.07%	0.01%
DNOW	F	0.01%	0.09%	0.01%
DOCS	A	0.01%	0.13%	0.01%
DTM	A	0.02%	0.16%	0.02%
DVAX	D	0.0%	0.08%	0.0%
DY	C	0.01%	0.02%	0.01%
EEFT	F	0.01%	0.09%	0.01%
EGBN	B	0.01%	0.0%	0.0%
EGP	D	0.01%	0.1%	0.01%
EHC	B	0.02%	0.05%	0.02%
EIG	C	0.01%	0.07%	0.01%
ELF	F	0.0%	0.19%	0.0%
EMBC	F	0.0%	0.03%	0.0%
EME	C	0.03%	0.84%	0.03%
ENR	B	0.01%	0.01%	0.01%
ENS	D	0.01%	0.04%	0.01%
ENSG	D	0.01%	0.14%	0.01%
ENVA	C	0.02%	0.01%	0.01%
EPAC	C	0.0%	0.06%	0.0%
EPC	F	0.01%	0.01%	0.01%
EPR	C	0.01%	0.02%	0.01%
ESAB	C	0.01%	0.16%	0.01%
ETSY	F	0.01%	0.23%	0.01%
EVR	C	0.02%	0.72%	0.02%
EVTC	C	0.0%	0.03%	0.0%
EWBC	D	0.04%	0.32%	0.04%
EXEL	B	0.01%	0.19%	0.01%
EXLS	A	0.01%	0.2%	0.01%
EXPI	C	0.01%	0.11%	0.01%
EXPO	A	0.0%	0.11%	0.0%
EXTR	C	0.0%	0.17%	0.0%
FAF	C	0.03%	0.17%	0.03%
FBP	D	0.01%	0.21%	0.01%
FCN	C	0.01%	0.04%	0.01%
FFIN	D	0.01%	0.04%	0.01%
FHB	D	0.02%	0.07%	0.02%
FHI	C	0.01%	0.1%	0.01%
FHN	D	0.04%	0.04%	0.04%
FIX	B	0.01%	0.41%	0.01%
FL	F	0.02%	0.03%	0.02%
FLO	D	0.02%	0.07%	0.02%
FLR	C	0.03%	0.08%	0.03%
FN	B	0.01%	0.06%	0.01%
FR	D	0.02%	0.35%	0.02%
FSS	D	0.01%	0.02%	0.01%
FULT	D	0.01%	0.0%	0.0%
FYBR	C	0.04%	0.14%	0.04%
GAP	F	0.04%	0.23%	0.04%
GATX	F	0.01%	0.13%	0.01%
GDOT	D	0.01%	0.0%	0.0%
GEF	D	0.02%	0.01%	0.01%
GEO	C	0.02%	0.06%	0.02%
GES	F	0.01%	0.19%	0.01%
GFF	C	0.01%	0.12%	0.01%
GGG	C	0.01%	0.31%	0.01%
GIII	D	0.01%	0.03%	0.01%
GKOS	C	0.0%	0.07%	0.0%
GLPI	A	0.04%	0.2%	0.04%
GME	D	0.03%	0.14%	0.03%
GMED	D	0.01%	0.02%	0.01%
GMS	C	0.01%	0.08%	0.01%
GNRC	B	0.02%	0.13%	0.02%
GNW	C	0.03%	0.0%	0.0%
GO	F	0.01%	0.01%	0.01%
GPI	C	0.04%	0.21%	0.04%
GPK	D	0.03%	0.28%	0.03%
HAE	D	0.01%	0.19%	0.01%
HAIN	B	0.01%	0.02%	0.01%
HALO	C	0.01%	0.27%	0.01%
HAS	A	0.03%	0.23%	0.03%
HASI	B	0.01%	0.09%	0.01%
HCC	B	0.03%	0.06%	0.03%
HELE	D	0.0%	0.04%	0.0%
HI	F	0.01%	0.08%	0.01%
HIW	C	0.03%	0.2%	0.03%
HLI	B	0.01%	0.16%	0.01%
HNI	C	0.01%	0.03%	0.01%
HOG	D	0.02%	0.19%	0.02%
HP	F	0.03%	0.09%	0.03%
HPP	F	0.01%	0.0%	0.0%
HQY	C	0.01%	0.01%	0.01%
HRB	C	0.03%	0.45%	0.03%
HSII	D	0.0%	0.26%	0.0%
HTH	F	0.01%	0.11%	0.01%
HTZ	F	0.0%	0.01%	0.0%
HWC	D	0.02%	0.07%	0.02%
HWKN	C	0.01%	0.06%	0.01%
HXL	F	0.01%	0.01%	0.01%
IBKR	A	0.05%	0.37%	0.05%
IBOC	D	0.02%	0.09%	0.02%
IBP	C	0.01%	0.05%	0.01%
IDA	D	0.02%	0.43%	0.02%
IDCC	A	0.01%	0.07%	0.01%
INVA	B	0.01%	0.1%	0.01%
IOSP	F	0.01%	0.04%	0.01%
IPAR	F	0.01%	0.13%	0.01%
IRWD	F	0.0%	0.02%	0.0%
ITGR	C	0.01%	0.05%	0.01%
ITRI	C	0.01%	0.05%	0.01%
ITT	C	0.02%	0.32%	0.02%
IVZ	B	0.07%	0.1%	0.07%
JACK	F	0.0%	0.09%	0.0%
JBL	C	0.04%	0.55%	0.04%
JBSS	F	0.0%	0.21%	0.0%
JEF	A	0.05%	0.34%	0.05%
JHG	B	0.04%	0.27%	0.04%
JOE	D	0.0%	0.23%	0.0%
JXN	A	0.06%	0.0%	0.0%
KALU	D	0.01%	0.01%	0.01%
KBR	B	0.01%	0.13%	0.01%
KD	F	0.03%	0.05%	0.03%
KFY	C	0.01%	0.02%	0.01%
KIM	C	0.03%	0.15%	0.03%
KLG	D	0.01%	0.04%	0.01%
KLIC	C	0.01%	0.11%	0.01%
KN	D	0.01%	0.08%	0.01%
KNF	C	0.01%	0.07%	0.01%
KNSL	C	0.0%	0.18%	0.0%
KRC	C	0.04%	0.13%	0.04%
KREF	C	0.01%	0.04%	0.01%
KRG	C	0.02%	0.17%	0.02%
KSS	D	0.02%	0.1%	0.02%
KW	B	0.01%	0.1%	0.01%
LAMR	C	0.03%	0.36%	0.03%
LANC	F	0.01%	0.02%	0.01%
LECO	F	0.01%	0.05%	0.01%
LFUS	D	0.01%	0.06%	0.01%
LGND	D	0.01%	0.08%	0.01%
LIVN	B	0.0%	0.21%	0.0%
LNTH	C	0.01%	0.24%	0.01%
LNW	F	0.02%	0.18%	0.02%
LPG	F	0.01%	0.05%	0.01%
LPX	C	0.02%	0.41%	0.02%
LRN	C	0.01%	0.14%	0.01%
LSCC	D	0.0%	0.25%	0.0%
LSTR	F	0.01%	0.1%	0.01%
LUMN	C	0.06%	0.18%	0.06%
LXP	D	0.01%	0.08%	0.01%
M	F	0.04%	0.19%	0.04%
MAC	C	0.01%	0.31%	0.01%
MAN	D	0.03%	0.05%	0.03%
MANH	C	0.0%	0.53%	0.0%
MASI	B	0.01%	0.07%	0.01%
MAT	D	0.01%	0.12%	0.01%
MATV	F	0.01%	0.1%	0.01%
MATX	C	0.02%	0.19%	0.02%
MC	C	0.01%	0.0%	0.0%
MCY	B	0.01%	0.05%	0.01%
MDU	C	0.03%	0.06%	0.03%
MEDP	F	0.01%	0.4%	0.01%
MIDD	D	0.02%	0.09%	0.02%
MKSI	F	0.01%	0.08%	0.01%
MLI	B	0.03%	0.41%	0.03%
MMS	C	0.02%	0.05%	0.02%
MMSI	C	0.01%	0.14%	0.01%
MOG.A	C	0.02%	0.03%	0.02%
MPW	C	0.03%	0.09%	0.03%
MSA	F	0.01%	0.02%	0.01%
MSM	D	0.02%	0.02%	0.02%
MTG	B	0.03%	0.1%	0.03%
MTN	D	0.01%	0.09%	0.01%
MTRN	F	0.0%	0.1%	0.0%
MTSI	C	0.01%	0.08%	0.01%
MUR	F	0.04%	0.2%	0.04%
NARI	F	0.0%	0.06%	0.0%
NATL	D	0.02%	0.04%	0.02%
NAVI	F	0.01%	0.2%	0.01%
NBR	D	0.01%	0.06%	0.01%
NBTB	D	0.01%	0.0%	0.0%
NDSN	C	0.02%	0.19%	0.02%
NFG	A	0.03%	0.13%	0.03%
NGVT	D	0.01%	0.01%	0.01%
NJR	C	0.01%	0.15%	0.01%
NNN	A	0.03%	0.12%	0.03%
NOV	F	0.02%	0.13%	0.02%
NOVT	D	0.01%	0.15%	0.01%
NSIT	B	0.02%	0.09%	0.02%
NSP	F	0.01%	0.14%	0.01%
NTCT	C	0.0%	0.11%	0.0%
NVST	D	0.01%	0.06%	0.01%
NVT	D	0.02%	0.5%	0.02%
NWL	F	0.03%	0.02%	0.02%
NWN	D	0.01%	0.01%	0.01%
NX	F	0.0%	0.03%	0.0%
NXST	F	0.03%	0.08%	0.03%
NYT	C	0.01%	0.13%	0.01%
OC	C	0.04%	0.17%	0.04%
ODP	F	0.01%	0.14%	0.01%
OFG	D	0.01%	0.29%	0.01%
OGE	A	0.03%	0.13%	0.03%
OGS	C	0.04%	0.14%	0.04%
OHI	C	0.04%	0.1%	0.04%
OI	D	0.02%	0.04%	0.02%
OII	C	0.01%	0.1%	0.01%
OLED	C	0.01%	0.05%	0.01%
OLN	C	0.02%	0.12%	0.02%
OMI	F	0.01%	0.06%	0.01%
ONTO	C	0.01%	0.21%	0.01%
OPCH	F	0.01%	0.11%	0.01%
ORI	B	0.04%	0.41%	0.04%
OSIS	C	0.01%	0.02%	0.01%
OTTR	F	0.01%	0.07%	0.01%
OUT	C	0.01%	0.04%	0.01%
OVV	D	0.09%	0.22%	0.09%
OXM	F	0.0%	0.07%	0.0%
OZK	D	0.04%	0.07%	0.04%
PARA	F	0.06%	0.11%	0.06%
PBF	F	0.03%	0.02%	0.02%
PBH	D	0.01%	0.08%	0.01%
PCH	C	0.01%	0.01%	0.01%
PCTY	B	0.01%	0.12%	0.01%
PDCO	F	0.02%	0.03%	0.02%
PEB	D	0.01%	0.01%	0.01%
PEN	D	0.0%	0.06%	0.0%
PFBC	D	0.0%	0.0%	0.0%
PHIN	C	0.01%	0.08%	0.01%
PII	D	0.02%	0.02%	0.02%
PIPR	B	0.01%	0.3%	0.01%
PK	D	0.03%	0.06%	0.03%
PLNT	B	0.0%	0.08%	0.0%
PLUS	C	0.01%	0.09%	0.01%
PNFP	D	0.02%	0.08%	0.02%
PNM	B	0.02%	0.11%	0.02%
POR	D	0.02%	0.07%	0.02%
POWI	F	0.0%	0.01%	0.0%
POWL	B	0.0%	0.29%	0.0%
PR	D	0.03%	0.02%	0.02%
PRDO	D	0.0%	0.0%	0.0%
PRG	C	0.02%	0.18%	0.02%
PRGO	F	0.02%	0.04%	0.02%
PRGS	B	0.0%	0.18%	0.0%
PRI	A	0.02%	0.26%	0.02%
PSTG	F	0.01%	0.3%	0.01%
PTEN	F	0.01%	0.11%	0.01%
PVH	F	0.02%	0.17%	0.02%
PZZA	D	0.0%	0.05%	0.0%
QLYS	F	0.0%	0.12%	0.0%
R	C	0.06%	0.26%	0.06%
RAMP	F	0.0%	0.02%	0.0%
RCUS	F	0.0%	0.05%	0.0%
RDN	D	0.03%	0.0%	0.0%
RGEN	F	0.01%	0.08%	0.01%
RGLD	C	0.01%	0.14%	0.01%
RGNX	F	0.0%	0.03%	0.0%
RHI	D	0.02%	0.16%	0.02%
RL	B	0.03%	0.15%	0.03%
RLI	A	0.01%	0.03%	0.01%
RMBS	F	0.0%	0.2%	0.0%
RNR	A	0.06%	0.23%	0.06%
ROIV	D	0.04%	0.01%	0.01%
RPM	B	0.02%	0.21%	0.02%
RRC	C	0.03%	0.19%	0.03%
RRX	C	0.02%	0.2%	0.02%
RS	D	0.05%	0.48%	0.05%
RUSHA	D	0.02%	0.05%	0.02%
RYN	C	0.01%	0.07%	0.01%
SAH	D	0.01%	0.04%	0.01%
SAIA	D	0.01%	0.1%	0.01%
SANM	D	0.03%	0.2%	0.03%
SATS	C	0.03%	0.16%	0.03%
SCI	D	0.02%	0.14%	0.02%
SEE	D	0.02%	0.0%	0.0%
SF	A	0.03%	0.15%	0.03%
SFBS	D	0.01%	0.12%	0.01%
SFM	A	0.03%	0.48%	0.03%
SGH	D	0.0%	0.03%	0.0%
SHO	D	0.01%	0.02%	0.01%
SIG	D	0.02%	0.28%	0.02%
SKT	A	0.01%	0.23%	0.01%
SLAB	D	0.0%	0.04%	0.0%
SLG	C	0.02%	0.46%	0.02%
SLM	C	0.02%	0.16%	0.02%
SLVM	C	0.01%	0.02%	0.01%
SM	C	0.02%	0.07%	0.02%
SMG	B	0.01%	0.23%	0.01%
SMTC	C	0.0%	0.05%	0.0%
SNEX	C	0.02%	0.07%	0.02%
SNV	D	0.03%	0.04%	0.03%
SOLV	C	0.01%	0.33%	0.01%
SON	D	0.03%	0.11%	0.03%
SONO	D	0.0%	0.04%	0.0%
SPSC	F	0.0%	0.13%	0.0%
SR	C	0.02%	0.12%	0.02%
SSB	C	0.02%	0.01%	0.01%
SSD	B	0.01%	0.16%	0.01%
SSTK	F	0.0%	0.13%	0.0%
STAG	D	0.02%	0.04%	0.02%
STWD	C	0.06%	0.06%	0.06%
SUPN	D	0.0%	0.02%	0.0%
SVC	F	0.01%	0.04%	0.01%
SWX	C	0.02%	0.01%	0.01%
SYNA	F	0.01%	0.11%	0.01%
TBBK	B	0.01%	0.0%	0.0%
TCBI	C	0.02%	0.03%	0.02%
TDC	D	0.01%	0.01%	0.01%
TDS	B	0.02%	0.04%	0.02%
TEX	F	0.01%	0.19%	0.01%
TGNA	C	0.02%	0.08%	0.02%
THC	D	0.06%	0.33%	0.06%
THO	C	0.03%	0.13%	0.03%
TILE	D	0.0%	0.04%	0.0%
TKR	D	0.02%	0.2%	0.02%
TMHC	C	0.04%	0.1%	0.04%
TNC	F	0.0%	0.07%	0.0%
TNL	C	0.01%	0.15%	0.01%
TOL	A	0.05%	0.17%	0.05%
TPH	C	0.02%	0.16%	0.02%
TPR	C	0.03%	0.26%	0.03%
TPX	C	0.01%	0.25%	0.01%
TR	D	0.0%	0.01%	0.0%
TREX	D	0.01%	0.24%	0.01%
TRMK	D	0.01%	0.0%	0.0%
TRN	C	0.02%	0.06%	0.02%
TTC	D	0.01%	0.16%	0.01%
TTEK	A	0.02%	0.34%	0.02%
TTGT	F	0.0%	0.01%	0.0%
TXRH	C	0.01%	0.07%	0.01%
UA	B	0.01%	0.14%	0.01%
UFPI	C	0.02%	0.24%	0.02%
UGI	C	0.05%	0.11%	0.05%
UMBF	C	0.02%	0.12%	0.02%
UNFI	B	0.01%	0.01%	0.01%
UNIT	B	0.01%	0.07%	0.01%
UNM	A	0.09%	0.0%	0.0%
UPBD	F	0.01%	0.1%	0.01%
USFD	C	0.08%	0.17%	0.08%
USNA	F	0.0%	0.02%	0.0%
UTHR	C	0.04%	0.37%	0.04%
UTL	D	0.0%	0.01%	0.0%
UVV	D	0.01%	0.07%	0.01%
VAC	D	0.01%	0.06%	0.01%
VAL	F	0.01%	0.01%	0.01%
VC	F	0.01%	0.08%	0.01%
VCEL	F	0.0%	0.02%	0.0%
VECO	F	0.0%	0.13%	0.0%
VFC	B	0.06%	0.08%	0.06%
VGR	B	0.02%	0.33%	0.02%
VIAV	B	0.0%	0.02%	0.0%
VIR	F	0.01%	0.07%	0.01%
VMI	B	0.01%	0.13%	0.01%
VNO	B	0.06%	0.4%	0.06%
VNT	F	0.01%	0.05%	0.01%
VOYA	A	0.04%	0.17%	0.04%
VRE	C	0.01%	0.01%	0.01%
VSH	F	0.01%	0.11%	0.01%
VSTO	B	0.01%	0.13%	0.01%
VSTS	D	0.02%	0.02%	0.02%
WAFD	D	0.02%	0.12%	0.02%
WBA	F	0.05%	0.06%	0.05%
WBS	D	0.03%	0.04%	0.03%
WCC	D	0.04%	0.17%	0.04%
WD	C	0.01%	0.03%	0.01%
WEN	D	0.01%	0.12%	0.01%
WEX	C	0.01%	0.11%	0.01%
WFRD	F	0.02%	0.37%	0.02%
WGO	D	0.01%	0.05%	0.01%
WH	C	0.01%	0.11%	0.01%
WING	C	0.0%	0.47%	0.0%
WMS	D	0.01%	0.13%	0.01%
WNC	F	0.0%	0.08%	0.0%
WOR	F	0.01%	0.08%	0.01%
WS	D	0.01%	0.18%	0.01%
WSM	B	0.03%	0.52%	0.03%
WSO	C	0.03%	0.31%	0.03%
WTFC	C	0.02%	0.02%	0.02%
WTS	C	0.01%	0.13%	0.01%
WYNN	B	0.02%	0.07%	0.02%
X	F	0.07%	0.1%	0.07%
XHR	C	0.01%	0.03%	0.01%
XNCR	D	0.0%	0.13%	0.0%
XPO	F	0.03%	0.13%	0.03%
XRAY	D	0.01%	0.31%	0.01%
XRX	D	0.01%	0.23%	0.01%
YELP	F	0.01%	0.06%	0.01%
YETI	C	0.0%	0.09%	0.0%
ZION	D	0.06%	0.2%	0.06%

VLU Overweight 910 Positions Relative to SMLF

Symbol	Grade	Weight
AAPL	C	2.48%
BRK.A	C	2.43%
XOM	A	2.06%
AMZN	C	1.92%
WMT	A	1.81%
META	A	1.8%
VZ	B	1.69%
MSFT	D	1.47%
T	A	1.41%
BAC	D	1.35%
JPM	D	1.33%
CVX	B	1.3%
UNH	B	1.17%
GOOG	B	1.15%
C	C	1.04%
WFC	F	0.96%
JNJ	D	0.85%
PFE	D	0.83%
GOOGL	B	0.72%
CVS	C	0.68%
CMCSA	C	0.62%
PM	D	0.54%
HD	A	0.53%
TSLA	C	0.52%
PG	D	0.51%
GS	D	0.5%
MS	B	0.5%
MPC	C	0.49%
TFC	D	0.49%
PSX	D	0.49%
COF	C	0.49%
RTX	A	0.48%
CSCO	A	0.48%
ABBV	A	0.46%
GM	D	0.45%
IBM	A	0.45%
AVGO	C	0.44%
MET	B	0.43%
KO	C	0.43%
ORCL	C	0.42%
COP	D	0.41%
V	C	0.41%
KMI	A	0.39%
VLO	F	0.39%
TMUS	A	0.39%
NEE	A	0.39%
CI	D	0.38%
PRU	C	0.38%
ELV	F	0.38%
MRK	F	0.37%
PNC	C	0.37%
PEP	F	0.37%
F	D	0.37%
LMT	A	0.37%
UPS	D	0.37%
COR	F	0.35%
CNC	F	0.35%
DUK	B	0.35%
CB	B	0.35%
USB	D	0.35%
MDT	C	0.34%
MO	D	0.34%
GILD	A	0.34%
AXP	B	0.34%
BMY	B	0.34%
MCK	F	0.33%
KR	C	0.33%
ACN	B	0.32%
SO	A	0.32%
NVDA	B	0.31%
INTC	D	0.31%
HPQ	C	0.3%
CHTR	D	0.29%
GE	C	0.29%
MMM	C	0.29%
COST	C	0.28%
DAL	C	0.28%
DIS	D	0.27%
AMGN	D	0.27%
BK	C	0.27%
KHC	F	0.27%
ABT	C	0.25%
D	A	0.25%
ADM	F	0.25%
CAT	A	0.25%
UNP	D	0.24%
CRM	B	0.24%
FDX	D	0.24%
CAH	B	0.24%
AIG	F	0.24%
TXN	C	0.24%
LOW	A	0.24%
TGT	D	0.23%
LLY	D	0.23%
HPE	B	0.23%
GD	C	0.23%
QCOM	C	0.23%
EOG	B	0.23%
DE	B	0.23%
HCA	C	0.22%
LYB	F	0.22%
AFL	A	0.22%
KVUE	C	0.22%
EXC	A	0.21%
HON	C	0.21%
MDLZ	D	0.21%
SCHW	D	0.21%
SW	C	0.21%
BLK	A	0.2%
LIN	B	0.2%
DD	C	0.19%
DOW	B	0.19%
BBY	C	0.18%
TMO	D	0.18%
NEM	C	0.18%
OXY	D	0.18%
PGR	C	0.18%
TJX	D	0.17%
NOC	B	0.17%
NFLX	B	0.17%
SYF	B	0.17%
TRV	C	0.17%
ADBE	F	0.17%
PYPL	C	0.17%
AEP	C	0.17%
SRE	B	0.17%
HUM	F	0.17%
LUV	B	0.16%
CFG	D	0.16%
WBD	D	0.16%
CCL	C	0.16%
ALL	C	0.16%
MCD	A	0.16%
UAL	B	0.16%
WMB	A	0.16%
PFG	C	0.16%
MTB	C	0.15%
LEN	B	0.15%
IP	C	0.15%
TSN	D	0.15%
PLD	D	0.15%
JCI	C	0.15%
AMT	C	0.15%
HIG	B	0.14%
ACGL	A	0.14%
FI	A	0.14%
SLB	D	0.14%
MU	D	0.14%
XEL	B	0.14%
ADI	C	0.14%
ED	A	0.14%
APD	C	0.14%
EMR	B	0.14%
BA	F	0.14%
REGN	D	0.14%
NKE	D	0.14%
ETR	A	0.14%
SBUX	C	0.14%
AMD	B	0.14%
PEG	A	0.14%
SPGI	B	0.13%
RGA	C	0.13%
L	D	0.13%
CMI	A	0.13%
DHI	C	0.13%
DVN	F	0.13%
DFS	C	0.13%
MA	A	0.13%
DHR	D	0.13%
STT	C	0.13%
KEY	C	0.13%
CCI	C	0.12%
ETN	C	0.12%
WELL	C	0.12%
BX	C	0.12%
OKE	A	0.12%
NUE	C	0.12%
MMC	D	0.12%
NSC	D	0.12%
VTRS	D	0.12%
PCG	C	0.12%
GIS	C	0.12%
O	A	0.12%
SYY	C	0.12%
KDP	C	0.12%
AMAT	B	0.12%
BG	F	0.12%
HBAN	D	0.11%
RF	C	0.11%
BKR	B	0.11%
CSX	D	0.11%
AMP	A	0.11%
CME	A	0.11%
PFGC	A	0.11%
VRTX	D	0.11%
FANG	C	0.11%
KMB	D	0.11%
EIX	B	0.11%
CTSH	B	0.11%
BSX	A	0.11%
FITB	C	0.11%
EQT	B	0.11%
PCAR	C	0.11%
ICE	A	0.11%
ISRG	C	0.1%
VICI	C	0.1%
WEC	A	0.1%
GLW	C	0.1%
LHX	A	0.1%
BKNG	C	0.1%
DTE	A	0.1%
CL	D	0.1%
FIS	B	0.1%
UBER	C	0.09%
SYK	C	0.09%
AFG	B	0.09%
CARR	A	0.09%
EG	B	0.09%
CTVA	A	0.09%
AEE	A	0.09%
RSG	C	0.09%
BIIB	F	0.09%
TAP	D	0.09%
PH	B	0.09%
ES	D	0.09%
BDX	C	0.09%
VST	B	0.09%
ITW	B	0.09%
EBAY	A	0.09%
PPL	B	0.09%
FCX	B	0.09%
WM	B	0.09%
STLD	B	0.08%
LAD	C	0.08%
HAL	D	0.08%
MOS	F	0.08%
TT	A	0.08%
SNX	D	0.08%
CAG	D	0.08%
LRCX	D	0.08%
FNF	B	0.08%
HRL	F	0.08%
EQR	C	0.08%
K	A	0.08%
MAR	B	0.08%
MRO	C	0.08%
CBRE	B	0.08%
VTR	C	0.08%
ALLY	F	0.08%
FOXA	A	0.08%
ADP	A	0.08%
CHRW	C	0.07%
OMC	C	0.07%
RCL	C	0.07%
NDAQ	B	0.07%
NVR	C	0.07%
PPG	D	0.07%
WTW	C	0.07%
EQH	C	0.07%
DVA	C	0.07%
CINF	A	0.07%
ATO	A	0.07%
AON	B	0.07%
AZO	D	0.07%
PHM	A	0.07%
TROW	D	0.07%
NTRS	C	0.07%
AVB	C	0.07%
WY	C	0.07%
BWA	C	0.07%
URI	C	0.07%
EVRG	C	0.07%
TRGP	A	0.07%
CNP	B	0.07%
FE	C	0.07%
LVS	B	0.07%
ANET	A	0.07%
MHK	B	0.07%
NXPI	F	0.07%
EQIX	C	0.07%
PSA	C	0.07%
ORLY	A	0.07%
AJG	D	0.06%
AES	C	0.06%
NRG	A	0.06%
KLAC	B	0.06%
GPC	D	0.06%
GPN	F	0.06%
NOW	C	0.06%
GRMN	D	0.06%
APH	D	0.06%
CTRA	D	0.06%
BXP	C	0.06%
IFF	C	0.06%
HES	C	0.06%
BAX	D	0.06%
ABNB	D	0.06%
NI	A	0.06%
CMS	A	0.06%
PAYX	A	0.06%
SPG	A	0.06%
PANW	D	0.06%
AWK	C	0.06%
ROST	D	0.06%
HSY	F	0.06%
AAL	D	0.06%
AMCR	C	0.06%
APTV	D	0.06%
CF	A	0.06%
SHW	B	0.06%
SWK	C	0.06%
IRM	A	0.05%
FOX	A	0.05%
STX	B	0.05%
MKC	C	0.05%
MGM	C	0.05%
BALL	C	0.05%
LNC	D	0.05%
COLB	C	0.05%
ECL	B	0.05%
WDC	C	0.05%
ON	F	0.05%
CEG	A	0.05%
KMX	F	0.05%
ZBH	F	0.05%
CPB	D	0.05%
JLL	C	0.05%
LDOS	A	0.05%
EL	D	0.05%
GEN	B	0.05%
EXR	C	0.05%
SJM	D	0.05%
EMN	C	0.05%
RJF	B	0.05%
ALK	C	0.05%
ZTS	C	0.05%
WRB	C	0.05%
MCHP	F	0.05%
ARMK	B	0.05%
GWW	B	0.05%
WPC	C	0.05%
WHR	C	0.05%
DOC	C	0.05%
BEN	F	0.05%
PNW	B	0.05%
ROP	C	0.05%
UHS	D	0.05%
IQV	F	0.05%
DG	F	0.05%
BLDR	B	0.05%
DGX	C	0.05%
MNST	D	0.05%
LEA	F	0.05%
STZ	D	0.05%
ARE	D	0.05%
INTU	F	0.05%
BRO	A	0.04%
LYV	B	0.04%
MUSA	D	0.04%
EW	F	0.04%
FAST	C	0.04%
WU	D	0.04%
CDW	D	0.04%
CCK	C	0.04%
HWM	A	0.04%
FTNT	B	0.04%
TKO	A	0.04%
CPAY	A	0.04%
DLR	C	0.04%
OTIS	A	0.04%
PWR	B	0.04%
CPT	C	0.04%
TSCO	B	0.04%
REG	C	0.04%
A	B	0.04%
ROK	C	0.04%
TXT	F	0.04%
NTAP	D	0.04%
IPG	D	0.04%
CTAS	C	0.04%
HST	D	0.04%
AL	D	0.04%
EXPD	D	0.04%
EXPE	B	0.04%
MAA	D	0.04%
DLTR	F	0.04%
WLK	C	0.04%
MCO	D	0.04%
MSI	A	0.04%
CIVI	F	0.04%
OGN	F	0.04%
WAB	A	0.04%
ESS	D	0.04%
ALB	D	0.04%
CMG	C	0.04%
AVT	C	0.04%
SNPS	F	0.04%
PKG	B	0.04%
LNT	A	0.04%
INVH	F	0.04%
CE	C	0.04%
EA	D	0.04%
MOH	F	0.04%
SWKS	F	0.04%
DRI	C	0.04%
COHR	A	0.03%
RMD	C	0.03%
CSGP	F	0.03%
BTU	B	0.03%
CNK	D	0.03%
ABR	C	0.03%
ILMN	B	0.03%
BURL	D	0.03%
GHC	C	0.03%
BIO	B	0.03%
CATY	D	0.03%
AMKR	F	0.03%
PB	D	0.03%
GDDY	D	0.03%
NCLH	C	0.03%
XYL	C	0.03%
LULU	D	0.03%
CALM	A	0.03%
APLE	D	0.03%
PAG	D	0.03%
WTRG	D	0.03%
MRNA	F	0.03%
ODFL	F	0.03%
BXMT	C	0.03%
HUBB	B	0.03%
TDG	B	0.03%
ULTA	D	0.03%
SKX	D	0.03%
CZR	B	0.03%
JNPR	B	0.03%
ABM	D	0.03%
MAS	A	0.03%
MTZ	B	0.03%
ONB	D	0.03%
NWSA	D	0.03%
VMC	D	0.03%
HSIC	D	0.03%
NOG	C	0.03%
MLM	F	0.03%
IT	B	0.03%
CHD	D	0.03%
POST	D	0.03%
HII	F	0.03%
UDR	C	0.03%
JBHT	D	0.03%
AKAM	D	0.03%
FMC	C	0.03%
CBOE	B	0.03%
TDY	A	0.03%
SNA	A	0.03%
ADSK	C	0.03%
CLX	C	0.03%
GEHC	C	0.03%
DXC	B	0.03%
KNX	D	0.03%
CPRT	C	0.03%
AME	D	0.03%
GL	C	0.03%
FTV	C	0.03%
FSLR	C	0.03%
YUM	B	0.03%
INGR	B	0.03%
J	F	0.03%
LKQ	F	0.03%
KEYS	C	0.03%
DOV	B	0.03%
VLY	C	0.03%
AVA	D	0.02%
FLS	A	0.02%
IIPR	C	0.02%
LBRT	D	0.02%
COLM	D	0.02%
VVV	F	0.02%
ANDE	D	0.02%
GBX	C	0.02%
VYX	B	0.02%
GNL	D	0.02%
MLKN	F	0.02%
KAR	F	0.02%
SIGI	D	0.02%
LEG	D	0.02%
GBCI	C	0.02%
MTCH	B	0.02%
ELS	D	0.02%
WKC	A	0.02%
BHE	C	0.02%
AUB	D	0.02%
JBGS	C	0.02%
REXR	D	0.02%
ST	F	0.02%
BANC	D	0.02%
VSCO	C	0.02%
VLTO	A	0.02%
TTWO	F	0.02%
GXO	D	0.02%
RNST	D	0.02%
WWD	C	0.02%
SKYW	C	0.02%
BANR	C	0.02%
LII	C	0.02%
CPRI	B	0.02%
PTC	D	0.02%
AOS	B	0.02%
TFX	C	0.02%
NWE	B	0.02%
ADNT	D	0.02%
TER	C	0.02%
PPC	D	0.02%
MHO	C	0.02%
ALE	A	0.02%
HOMB	D	0.02%
HLT	B	0.02%
IBTX	D	0.02%
TYL	B	0.02%
WAT	B	0.02%
AAP	F	0.02%
EFX	C	0.02%
TRMB	B	0.02%
SBAC	C	0.02%
PFS	D	0.02%
FFBC	D	0.02%
JWN	D	0.02%
URBN	F	0.02%
SEM	D	0.02%
THG	C	0.02%
OSK	F	0.02%
QRVO	F	0.02%
JBLU	B	0.02%
G	A	0.02%
PNR	B	0.02%
CG	B	0.02%
KEX	C	0.02%
CNXC	F	0.02%
UBSI	D	0.02%
SAIC	A	0.02%
ERIE	B	0.02%
H	C	0.02%
SLGN	C	0.02%
CADE	D	0.02%
ADC	B	0.02%
ESNT	C	0.02%
SBRA	C	0.02%
JAZZ	F	0.02%
IR	B	0.02%
FFIV	B	0.02%
DAR	F	0.02%
BR	B	0.02%
MTD	B	0.02%
ZBRA	C	0.02%
AVY	D	0.02%
VRSN	B	0.02%
IDXX	D	0.02%
CDNS	D	0.02%
SFNC	C	0.02%
INCY	B	0.02%
MTDR	F	0.02%
STE	D	0.02%
GT	F	0.02%
MTH	C	0.02%
HBI	C	0.02%
FBIN	B	0.02%
RVTY	C	0.02%
KBH	C	0.02%
ANSS	D	0.02%
PENN	D	0.02%
BHF	F	0.02%
FNB	D	0.02%
HOLX	D	0.02%
CLF	F	0.02%
ALGN	D	0.02%
BFS	B	0.01%
MSGS	A	0.01%
MCRI	C	0.01%
MYRG	F	0.01%
EZPW	D	0.01%
SCL	D	0.01%
HCSG	F	0.01%
MMI	D	0.01%
AAT	C	0.01%
MYGN	D	0.01%
SAFT	D	0.01%
CHH	C	0.01%
BGS	D	0.01%
AZZ	C	0.01%
JBT	B	0.01%
RDNT	C	0.01%
ALGT	D	0.01%
ZD	D	0.01%
MRCY	B	0.01%
AMWD	D	0.01%
MP	B	0.01%
WRLD	D	0.01%
CHEF	D	0.01%
FWRD	C	0.01%
EFC	D	0.01%
FORM	F	0.01%
ESE	C	0.01%
PAYC	D	0.01%
NVRI	D	0.01%
DRH	D	0.01%
FIZZ	F	0.01%
RES	B	0.01%
STRA	F	0.01%
SMPL	D	0.01%
WST	D	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%
GTY	C	0.01%
CPK	C	0.01%
MODG	F	0.01%
NHC	D	0.01%
INN	B	0.01%
ELME	C	0.01%
AWI	A	0.01%
HLX	B	0.01%
AVNS	D	0.01%
CGNX	F	0.01%
KWR	F	0.01%
SCHL	F	0.01%
EXP	B	0.01%
GTLS	F	0.01%
JJSF	C	0.01%
VTLE	F	0.01%
MORN	C	0.01%
SXC	F	0.01%
B	B	0.01%
MGEE	B	0.01%
AMED	D	0.01%
ASIX	A	0.01%
CPF	C	0.01%
FELE	C	0.01%
FCPT	C	0.01%
PJT	C	0.01%
DAY	B	0.01%
OMCL	C	0.01%
MNRO	B	0.01%
VSAT	F	0.01%
DORM	D	0.01%
ROIC	C	0.01%
STC	C	0.01%
BRKL	D	0.01%
AXL	F	0.01%
FTDR	C	0.01%
IPGP	D	0.01%
ENOV	F	0.01%
AHCO	D	0.01%
FBK	D	0.01%
UE	C	0.01%
KELYA	D	0.01%
LTC	D	0.01%
PUMP	D	0.01%
HMN	C	0.01%
NBIX	F	0.01%
SCVL	D	0.01%
SPTN	C	0.01%
FCF	D	0.01%
DCOM	C	0.01%
DXCM	F	0.01%
CRI	D	0.01%
ORA	C	0.01%
LGIH	C	0.01%
HGV	F	0.01%
PINC	F	0.01%
KMT	D	0.01%
MTX	D	0.01%
RWT	C	0.01%
UNF	A	0.01%
SXT	C	0.01%
NWS	D	0.01%
CBRL	D	0.01%
PARR	F	0.01%
AKR	C	0.01%
DT	B	0.01%
FND	C	0.01%
DIOD	F	0.01%
PODD	C	0.01%
BOOT	C	0.01%
IRT	D	0.01%
APAM	C	0.01%
SBSI	D	0.01%
NPO	C	0.01%
TTMI	D	0.01%
PRK	D	0.01%
BHLB	D	0.01%
SHOO	C	0.01%
CRK	B	0.01%
LOPE	D	0.01%
RXO	D	0.01%
WSFS	D	0.01%
PECO	C	0.01%
STBA	D	0.01%
GVA	B	0.01%
DLB	C	0.01%
MD	B	0.01%
CNXN	C	0.01%
SHC	C	0.01%
NEU	F	0.01%
SCSC	D	0.01%
ROL	C	0.01%
LZB	D	0.01%
NMIH	C	0.01%
BGC	B	0.01%
DPZ	D	0.01%
MKTX	B	0.01%
FUL	F	0.01%
CTRE	C	0.01%
ECPG	F	0.01%
PBI	C	0.01%
CCS	C	0.01%
OLLI	C	0.01%
POOL	B	0.01%
RBC	C	0.01%
FDP	C	0.01%
THS	D	0.01%
PATK	B	0.01%
RH	C	0.01%
NSA	C	0.01%
CBU	D	0.01%
RC	F	0.01%
LW	D	0.01%
WWW	A	0.01%
LCII	C	0.01%
SABR	C	0.01%
WERN	D	0.01%
PSMT	C	0.01%
CCOI	B	0.01%
ACIW	B	0.01%
ARI	F	0.01%
SBH	C	0.01%
DEA	D	0.01%
UCB	D	0.01%
INDB	D	0.01%
LITE	A	0.01%
VRSK	C	0.01%
SRCL	A	0.01%
CRL	F	0.01%
GNTX	D	0.01%
FDS	C	0.01%
PMT	C	0.01%
ATGE	D	0.01%
PPBI	D	0.01%
EPAM	F	0.01%
TALO	F	0.01%
EPRT	C	0.01%
VBTX	C	0.01%
ENPH	F	0.01%
MPWR	B	0.01%
IEX	D	0.01%
GRBK	C	0.01%
EAT	A	0.01%
MSCI	B	0.01%
DBX	B	0.01%
HOPE	D	0.01%
ATR	A	0.01%
JKHY	A	0.01%
KMPR	D	0.01%
HUBG	D	0.01%
ICUI	B	0.01%
CTLT	A	0.01%
CABO	F	0.01%
PLXS	B	0.01%
KTB	C	0.01%
FICO	A	0.01%
NWBI	D	0.01%
SPNT	D	0.01%
REZI	D	0.01%
UAA	B	0.01%
MGY	B	0.01%
RUN	D	0.01%
SEIC	B	0.01%
FRT	D	0.01%
ABCB	C	0.01%
AORT	B	0.0%
VICR	B	0.0%
NPK	F	0.0%
XPEL	D	0.0%
CHUY	B	0.0%
WOLF	F	0.0%
LESL	F	0.0%
GOGO	F	0.0%
MSEX	D	0.0%
PCRX	D	0.0%
PGNY	F	0.0%
SNCY	D	0.0%
CLB	C	0.0%
TGI	F	0.0%
COHU	F	0.0%
CERT	F	0.0%
STAA	D	0.0%
LQDT	D	0.0%
HCI	B	0.0%
CRSR	D	0.0%
CEVA	B	0.0%
SITM	B	0.0%
NABL	F	0.0%
AAON	B	0.0%
TNDM	D	0.0%
ICHR	D	0.0%
MXL	D	0.0%
BJRI	C	0.0%
NXRT	D	0.0%
MYE	F	0.0%
PAYO	A	0.0%
DGII	B	0.0%
WT	D	0.0%
TRUP	D	0.0%
DV	F	0.0%
ASTE	F	0.0%
PRLB	F	0.0%
CTS	D	0.0%
AHH	F	0.0%
SHEN	F	0.0%
IIIN	F	0.0%
WSR	D	0.0%
CCRN	F	0.0%
PRVA	F	0.0%
CENT	F	0.0%
VVI	B	0.0%
SXI	C	0.0%
GPRE	F	0.0%
RGR	F	0.0%
THRM	F	0.0%
THRY	F	0.0%
SEDG	F	0.0%
COLL	B	0.0%
LNN	C	0.0%
MTUS	F	0.0%
ALG	F	0.0%
HRMY	D	0.0%
KOP	F	0.0%
MCW	F	0.0%
WDFC	D	0.0%
HTLD	F	0.0%
GDEN	D	0.0%
WABC	F	0.0%
MATW	F	0.0%
CSGS	C	0.0%
SJW	D	0.0%
AMSF	B	0.0%
IRDM	B	0.0%
USPH	F	0.0%
EYE	F	0.0%
UFPT	D	0.0%
DXPE	C	0.0%
REX	C	0.0%
SMP	D	0.0%
MGPI	F	0.0%
NVEE	F	0.0%
PLMR	B	0.0%
IART	F	0.0%
FTRE	F	0.0%
NEO	F	0.0%
CLW	F	0.0%
PRFT	A	0.0%
LKFN	F	0.0%
FLGT	F	0.0%
HAYN	B	0.0%
UHT	C	0.0%
TFIN	F	0.0%
PLAY	D	0.0%
FBRT	C	0.0%
MRTN	F	0.0%
AIR	D	0.0%
AZTA	F	0.0%
HFWA	D	0.0%
HAYW	C	0.0%
CNSL	A	0.0%
CRVL	C	0.0%
ZI	D	0.0%
ENV	B	0.0%
CENX	C	0.0%
TRIP	F	0.0%
AOSL	D	0.0%
HAFC	D	0.0%
HLIT	D	0.0%
PRAA	F	0.0%
SAM	C	0.0%
PAHC	C	0.0%
ETD	C	0.0%
VTOL	D	0.0%
ROG	F	0.0%
HZO	D	0.0%
QNST	C	0.0%
NEOG	F	0.0%
ASTH	A	0.0%
TRST	D	0.0%
FIVE	D	0.0%
CSR	D	0.0%
TWI	F	0.0%
FBNC	D	0.0%
PRA	B	0.0%
UFCS	D	0.0%
VRTS	F	0.0%
ADUS	D	0.0%
VRRM	D	0.0%
SHAK	C	0.0%
FOXF	F	0.0%
ROCK	D	0.0%
ALEX	D	0.0%
NBHC	D	0.0%
TECH	D	0.0%

VLU Underweight 301 Positions Relative to SMLF

Symbol	Grade	Weight
APP	A	-0.7%
BPOP	D	-0.57%
NTNX	C	-0.5%
ALSN	A	-0.48%
MSTR	B	-0.41%
DUOL	B	-0.4%
IOT	C	-0.4%
COCO	C	-0.39%
PCOR	D	-0.38%
LBRDA	B	-0.37%
NTRA	B	-0.35%
CVNA	A	-0.34%
GTLB	D	-0.34%
CAVA	C	-0.32%
WK	D	-0.31%
SN	A	-0.3%
DDS	D	-0.3%
SPXC	C	-0.3%
MOD	B	-0.29%
FLEX	C	-0.29%
YOU	C	-0.29%
SMAR	A	-0.27%
ENTG	D	-0.27%
IMKTA	F	-0.26%
LBTYA	A	-0.26%
FCNCA	D	-0.25%
HURN	D	-0.24%
STRL	C	-0.24%
W	D	-0.23%
INTA	C	-0.23%
SRPT	F	-0.23%
ESTC	F	-0.23%
AXSM	C	-0.22%
AZPN	B	-0.22%
DNLI	C	-0.22%
ATKR	F	-0.2%
AGNC	C	-0.19%
TPG	B	-0.19%
TDOC	D	-0.18%
FROG	F	-0.18%
KFRC	F	-0.18%
PDM	C	-0.18%
RNG	D	-0.17%
PI	B	-0.17%
VCYT	C	-0.17%
PGRE	D	-0.17%
TOST	C	-0.16%
SKY	B	-0.16%
IGT	F	-0.16%
IONS	F	-0.16%
PRKS	D	-0.16%
SPB	C	-0.16%
MMYT	D	-0.16%
SQSP	A	-0.16%
WTM	C	-0.15%
OMF	F	-0.15%
AY	B	-0.15%
ONON	C	-0.15%
SPT	F	-0.15%
IVT	B	-0.15%
ACLX	C	-0.15%
GH	F	-0.15%
NUVL	B	-0.15%
ESI	C	-0.15%
TNET	F	-0.14%
BSY	D	-0.14%
BL	C	-0.14%
INSP	C	-0.14%
SBGI	B	-0.14%
SRCE	D	-0.14%
HOV	D	-0.13%
BRZE	F	-0.13%
YEXT	C	-0.13%
BPMC	F	-0.13%
RYAN	A	-0.13%
GOLF	F	-0.13%
FTAI	B	-0.13%
HUN	C	-0.13%
MFA	C	-0.13%
VRNS	C	-0.12%
ALX	D	-0.12%
KAI	C	-0.12%
LILA	D	-0.12%
BCRX	D	-0.12%
ACCO	C	-0.12%
ACAD	F	-0.11%
CMPR	F	-0.11%
BAND	F	-0.11%
INSM	D	-0.11%
ICFI	C	-0.11%
PCVX	C	-0.11%
COUR	F	-0.11%
OSCR	C	-0.11%
NSSC	F	-0.1%
AAN	B	-0.1%
BASE	F	-0.1%
WSC	D	-0.1%
NYCB	D	-0.1%
WAL	C	-0.1%
SWN	D	-0.1%
LAZ	C	-0.1%
VMEO	C	-0.1%
RDDT	B	-0.1%
LOVE	C	-0.1%
APG	F	-0.09%
CACC	F	-0.09%
LBTYK	A	-0.09%
BECN	D	-0.09%
ALIT	D	-0.09%
SITC	D	-0.09%
HIMS	C	-0.09%
MCB	B	-0.09%
AGM	F	-0.09%
LYFT	D	-0.08%
TENB	F	-0.08%
LZ	D	-0.08%
CRDO	B	-0.08%
FLNC	C	-0.08%
PD	F	-0.08%
ILPT	D	-0.08%
ATEN	B	-0.08%
CSWI	C	-0.08%
SCS	F	-0.08%
VERA	C	-0.08%
MDGL	F	-0.08%
ELAN	C	-0.08%
MRC	D	-0.08%
ADEA	C	-0.07%
GCO	F	-0.07%
APPF	C	-0.07%
PEGA	C	-0.07%
AZEK	C	-0.07%
ANAB	D	-0.07%
WLY	A	-0.07%
SANA	F	-0.07%
ANGI	D	-0.07%
HE	F	-0.07%
EQC	D	-0.07%
HOUS	D	-0.07%
DH	F	-0.07%
RIG	F	-0.07%
AIV	D	-0.07%
VKTX	B	-0.07%
SFL	C	-0.07%
NTB	D	-0.07%
MED	F	-0.07%
HEES	C	-0.07%
GPMT	D	-0.06%
MERC	D	-0.06%
APLS	F	-0.06%
AGX	A	-0.06%
FIVN	F	-0.06%
NXT	F	-0.06%
AMLX	D	-0.06%
LADR	D	-0.06%
DOMO	F	-0.06%
AMRX	B	-0.06%
ADMA	C	-0.06%
AMPL	D	-0.06%
AVDX	F	-0.05%
PFSI	C	-0.05%
BKD	F	-0.05%
ASAN	F	-0.05%
ACI	F	-0.05%
BEAM	F	-0.05%
CTBI	D	-0.05%
CERS	F	-0.05%
NHI	C	-0.05%
RKT	D	-0.05%
WTTR	B	-0.05%
FOLD	F	-0.05%
ITCI	D	-0.05%
S	D	-0.05%
ZIP	D	-0.05%
KOS	F	-0.05%
AFRM	C	-0.05%
EYPT	F	-0.05%
PATH	F	-0.05%
FUN	F	-0.05%
THR	F	-0.05%
SITE	D	-0.05%
IRTC	F	-0.05%
MDXG	F	-0.04%
CLVT	D	-0.04%
SPRY	C	-0.04%
ACCD	F	-0.04%
OPI	F	-0.04%
QDEL	D	-0.04%
DIN	D	-0.04%
TARS	B	-0.04%
CGEM	F	-0.04%
SOFI	C	-0.04%
ARRY	F	-0.04%
DAWN	D	-0.04%
IVR	C	-0.04%
RDFN	C	-0.04%
AGS	B	-0.04%
HSTM	B	-0.04%
SNBR	C	-0.04%
EVH	D	-0.04%
AVXL	D	-0.04%
VITL	B	-0.04%
NRC	F	-0.04%
HLF	F	-0.04%
ROKU	B	-0.04%
QRTEA	F	-0.03%
RYI	F	-0.03%
TSE	B	-0.03%
VNDA	F	-0.03%
OFIX	D	-0.03%
ATRC	C	-0.03%
DNB	D	-0.03%
VIRT	B	-0.03%
MGNI	D	-0.03%
ADT	D	-0.03%
SNDX	F	-0.03%
OPEN	F	-0.03%
BILL	D	-0.03%
LTH	C	-0.03%
REVG	D	-0.03%
TWO	D	-0.03%
JELD	C	-0.03%
SWIM	C	-0.03%
BRSP	D	-0.03%
UDMY	F	-0.03%
CHWY	C	-0.03%
TLRY	F	-0.03%
TPB	C	-0.03%
DBI	F	-0.03%
FLYW	F	-0.03%
IDT	C	-0.03%
BBIO	F	-0.03%
QXO	F	-0.03%
CORZ	C	-0.03%
RPD	D	-0.03%
RVMD	B	-0.03%
CNS	C	-0.03%
UVE	C	-0.03%
PRO	F	-0.02%
ERAS	D	-0.02%
OSUR	F	-0.02%
NTLA	F	-0.02%
KVYO	B	-0.02%
KRNY	C	-0.02%
BMBL	F	-0.02%
WOOF	A	-0.02%
HMST	B	-0.02%
OLPX	B	-0.02%
BRY	F	-0.02%
MTW	F	-0.02%
EDR	A	-0.02%
LMAT	C	-0.02%
GPRO	F	-0.02%
DYN	D	-0.02%
EVRI	A	-0.02%
ARCT	D	-0.02%
NUS	F	-0.02%
RLJ	D	-0.02%
DOCN	C	-0.02%
PTCT	C	-0.02%
AKRO	C	-0.02%
CNDT	B	-0.02%
TGTX	D	-0.02%
JANX	C	-0.02%
CRSP	F	-0.02%
ALHC	C	-0.02%
SAFE	C	-0.02%
IESC	A	-0.02%
AMCX	F	-0.02%
SFIX	F	-0.01%
RBRK	D	-0.01%
JOBY	B	-0.01%
ZUO	F	-0.01%
MITK	F	-0.01%
PGEN	F	-0.01%
SWI	C	-0.01%
ARR	D	-0.01%
OMER	F	-0.01%
BIGC	F	-0.01%
CRAI	B	-0.01%
FLWS	F	-0.01%
OIS	F	-0.01%
JAMF	F	-0.01%
UPWK	D	-0.01%
WTI	C	-0.01%
MBC	C	-0.01%
PYCR	D	-0.01%
HCAT	D	-0.01%
SWTX	F	-0.01%
AXS	A	-0.01%
STGW	B	-0.01%
MLAB	B	-0.01%
ALAB	C	-0.01%
GWRE	A	-0.01%
XPRO	F	-0.01%
NFBK	D	-0.01%
MBLY	F	-0.01%
RHP	C	-0.01%
NEXA	B	-0.01%
RXT	C	-0.01%
HYFM	D	-0.0%