VLU vs. SPGM ETF Comparison

Comparison of SPDR S&P 1500 Value Tilt ETF (VLU) to SPDR Portfolio MSCI Global Stock Market ETF (SPGM)

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

$175.39

Average Daily Volume

7,053

Number of Holdings ^*

1425

* may have additional holdings in another (foreign) market

SPGM

SPDR Portfolio MSCI Global Stock Market ETF

SPGM Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI ACWI IMI Index. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index and in depositary receipts based on securities comprising the index. The index is a free float-adjusted market capitalization-weighted index that is designed to measure the combined equity market performance of developed and emerging markets.

Grade (RS Rating)

Last Trade

$62.43

Average Daily Volume

53,917

Number of Holdings ^*

954

* may have additional holdings in another (foreign) market

Performance

Period	VLU	SPGM
30 Days	2.98%	3.89%
60 Days	2.19%	5.46%
90 Days	4.53%	8.48%
12 Months	19.24%	20.32%

480 Overlapping Holdings

Symbol	Grade	Weight in VLU	Weight in SPGM	Overlap
A	D	0.04%	0.21%	0.04%
AA	D	0.03%	0.0%	0.0%
AAON	C	0.0%	0.01%	0.0%
AAPL	B	2.46%	3.89%	2.46%
ABBV	B	0.41%	0.37%	0.37%
ABBV	B	0.41%	0.19%	0.19%
ABNB	D	0.08%	0.05%	0.05%
ABR	B	0.03%	0.01%	0.01%
ABT	D	0.24%	0.33%	0.24%
ACLS	C	0.01%	0.01%	0.01%
ACN	D	0.29%	0.25%	0.25%
ADBE	C	0.21%	0.4%	0.21%
ADI	B	0.15%	0.19%	0.15%
ADM	C	0.29%	0.1%	0.1%
ADNT	F	0.02%	0.0%	0.0%
ADP	F	0.08%	0.19%	0.08%
ADSK	C	0.03%	0.01%	0.01%
ADUS	B	0.0%	0.0%	0.0%
AEP	C	0.16%	0.15%	0.15%
AES	D	0.05%	0.01%	0.01%
AFL	A	0.19%	0.22%	0.19%
AGYS	B	0.0%	0.01%	0.0%
AHH	C	0.0%	0.02%	0.0%
ALB	F	0.05%	0.01%	0.01%
ALEX	C	0.0%	0.01%	0.0%
ALGN	F	0.03%	0.01%	0.01%
ALL	D	0.14%	0.14%	0.14%
ALLE	C	0.01%	0.03%	0.01%
ALLY	A	0.1%	0.02%	0.02%
AMAT	C	0.16%	0.39%	0.16%
AMD	C	0.16%	0.29%	0.16%
AMG	C	0.02%	0.0%	0.0%
AMGN	B	0.28%	0.24%	0.24%
AMR	D	0.02%	0.01%	0.01%
AMT	B	0.14%	0.17%	0.14%
AMZN	C	2.13%	2.16%	2.13%
ANET	C	0.07%	0.07%	0.07%
ANF	C	0.01%	0.0%	0.0%
AON	C	0.06%	0.06%	0.06%
AOSL	B	0.01%	0.0%	0.0%
APA	D	0.06%	0.01%	0.01%
APD	D	0.13%	0.07%	0.07%
APTV	F	0.07%	0.0%	0.0%
AR	D	0.05%	0.0%	0.0%
ARWR	C	0.0%	0.01%	0.0%
ASTH	B	0.0%	0.0%	0.0%
AVGO	B	0.45%	0.97%	0.45%
AVNS	C	0.0%	0.0%	0.0%
AX	B	0.01%	0.0%	0.0%
AXON	D	0.01%	0.03%	0.01%
AXP	B	0.32%	0.31%	0.31%
BA	D	0.17%	0.13%	0.13%
BAC	A	1.52%	0.48%	0.48%
BAX	D	0.06%	0.05%	0.05%
BBWI	F	0.03%	0.01%	0.01%
BDX	F	0.09%	0.17%	0.09%
BEN	D	0.06%	0.05%	0.05%
BHF	D	0.03%	0.01%	0.01%
BIIB	C	0.11%	0.1%	0.1%
BJRI	B	0.0%	0.0%	0.0%
BK	A	0.25%	0.16%	0.16%
BKNG	C	0.1%	0.25%	0.1%
BKR	B	0.11%	0.02%	0.02%
BLDR	F	0.04%	0.01%	0.01%
BLK	B	0.18%	0.07%	0.07%
BMY	F	0.28%	0.1%	0.1%
BOOT	C	0.01%	0.01%	0.01%
BRBR	D	0.01%	0.0%	0.0%
BRK.A	C	2.27%	0.65%	0.65%
BSX	B	0.11%	0.13%	0.11%
BTU	D	0.02%	0.01%	0.01%
BURL	A	0.02%	0.0%	0.0%
BX	B	0.1%	0.04%	0.04%
C	B	1.16%	0.26%	0.26%
CAG	F	0.07%	0.05%	0.05%
CALX	D	0.0%	0.0%	0.0%
CAR	F	0.02%	0.0%	0.0%
CARR	B	0.07%	0.05%	0.05%
CARS	C	0.0%	0.01%	0.0%
CASH	B	0.01%	0.01%	0.01%
CAT	D	0.23%	0.27%	0.23%
CB	D	0.35%	0.25%	0.25%
CC	F	0.02%	0.0%	0.0%
CCL	C	0.16%	0.01%	0.01%
CCS	C	0.01%	0.01%	0.01%
CDNS	C	0.03%	0.02%	0.02%
CEG	C	0.04%	0.12%	0.04%
CEIX	C	0.03%	0.0%	0.0%
CELH	F	0.0%	0.01%	0.0%
CENX	C	0.01%	0.01%	0.01%
CERT	F	0.0%	0.0%	0.0%
CEVA	D	0.0%	0.0%	0.0%
CF	F	0.05%	0.02%	0.02%
CFG	A	0.16%	0.02%	0.02%
CHCT	D	0.0%	0.03%	0.0%
CHD	D	0.03%	0.07%	0.03%
CHEF	B	0.01%	0.0%	0.0%
CHRW	C	0.06%	0.07%	0.06%
CHTR	D	0.28%	0.08%	0.08%
CHX	D	0.01%	0.02%	0.01%
CI	D	0.38%	0.08%	0.08%
CL	B	0.1%	0.14%	0.1%
CLF	F	0.03%	0.0%	0.0%
CLX	D	0.03%	0.1%	0.03%
CMCSA	F	0.62%	0.17%	0.17%
CME	D	0.1%	0.08%	0.08%
CMG	D	0.05%	0.11%	0.05%
CMI	C	0.11%	0.2%	0.11%
CNC	D	0.33%	0.0%	0.0%
COF	C	0.5%	0.12%	0.12%
COHR	B	0.02%	0.0%	0.0%
COLL	D	0.0%	0.01%	0.0%
COP	D	0.46%	0.2%	0.2%
COST	C	0.3%	0.6%	0.3%
COTY	F	0.02%	0.0%	0.0%
CPRX	C	0.0%	0.01%	0.0%
CRM	F	0.24%	0.41%	0.24%
CROX	D	0.02%	0.01%	0.01%
CRSR	F	0.0%	0.0%	0.0%
CSCO	D	0.46%	0.3%	0.3%
CSGP	F	0.03%	0.0%	0.0%
CSX	C	0.11%	0.19%	0.11%
CTSH	C	0.1%	0.12%	0.1%
CTVA	D	0.08%	0.07%	0.07%
CUBI	B	0.01%	0.0%	0.0%
CVS	F	0.67%	0.14%	0.14%
CVX	D	1.46%	0.35%	0.35%
CYTK	D	0.0%	0.0%	0.0%
CZR	D	0.03%	0.01%	0.01%
DAN	F	0.01%	0.0%	0.0%
DBI	F	0.0%	0.0%	0.0%
DD	B	0.18%	0.08%	0.08%
DDD	D	0.0%	0.0%	0.0%
DE	F	0.22%	0.17%	0.17%
DEA	B	0.01%	0.06%	0.01%
DFS	B	0.14%	0.16%	0.14%
DGII	F	0.0%	0.0%	0.0%
DHI	C	0.1%	0.0%	0.0%
DHR	D	0.12%	0.31%	0.12%
DIN	F	0.0%	0.0%	0.0%
DIS	F	0.3%	0.27%	0.27%
DLR	B	0.04%	0.01%	0.01%
DLTR	F	0.07%	0.07%	0.07%
DNOW	D	0.01%	0.0%	0.0%
DOC	B	0.05%	0.05%	0.05%
DOCS	C	0.01%	0.0%	0.0%
DOW	F	0.2%	0.07%	0.07%
DRH	D	0.01%	0.0%	0.0%
DT	F	0.01%	0.0%	0.0%
DUK	B	0.32%	0.09%	0.09%
DVAX	F	0.0%	0.01%	0.0%
DVN	D	0.17%	0.02%	0.02%
DXC	D	0.03%	0.01%	0.01%
DXCM	D	0.02%	0.03%	0.02%
EA	B	0.05%	0.0%	0.0%
EBAY	B	0.08%	0.09%	0.08%
ECL	A	0.05%	0.14%	0.05%
EFC	A	0.01%	0.01%	0.01%
EIX	C	0.09%	0.11%	0.09%
EL	F	0.06%	0.08%	0.06%
ELF	B	0.0%	0.01%	0.0%
ELV	C	0.42%	0.23%	0.23%
EMBC	D	0.0%	0.0%	0.0%
EMR	B	0.15%	0.19%	0.15%
ENPH	F	0.01%	0.01%	0.01%
ENS	B	0.02%	0.01%	0.01%
ENVA	A	0.02%	0.0%	0.0%
EOG	B	0.25%	0.16%	0.16%
EPAM	F	0.01%	0.01%	0.01%
EPRT	B	0.01%	0.01%	0.01%
EQIX	C	0.07%	0.04%	0.04%
EQR	C	0.08%	0.06%	0.06%
EQT	D	0.09%	0.0%	0.0%
ETN	C	0.12%	0.22%	0.12%
ETSY	F	0.01%	0.0%	0.0%
EXC	D	0.19%	0.06%	0.06%
EXPE	C	0.04%	0.01%	0.01%
EXPI	D	0.01%	0.0%	0.0%
EXTR	D	0.0%	0.0%	0.0%
EYE	F	0.0%	0.0%	0.0%
F	B	0.47%	0.09%	0.09%
FAST	D	0.03%	0.11%	0.03%
FBK	A	0.01%	0.01%	0.01%
FCX	C	0.1%	0.05%	0.05%
FDX	B	0.28%	0.19%	0.19%
FE	C	0.07%	0.07%	0.07%
FICO	A	0.01%	0.02%	0.01%
FIS	C	0.1%	0.01%	0.01%
FIZZ	C	0.01%	0.0%	0.0%
FLGT	F	0.0%	0.0%	0.0%
FOXA	A	0.08%	0.04%	0.04%
FSLR	D	0.03%	0.02%	0.02%
FTNT	D	0.03%	0.02%	0.02%
FTV	D	0.03%	0.06%	0.03%
GD	D	0.2%	0.23%	0.2%
GDOT	D	0.0%	0.0%	0.0%
GE	D	0.27%	0.14%	0.14%
GEHC	C	0.03%	0.02%	0.02%
GILD	C	0.28%	0.15%	0.15%
GIS	D	0.11%	0.05%	0.05%
GKOS	A	0.0%	0.0%	0.0%
GLW	B	0.09%	0.13%	0.09%
GM	B	0.5%	0.08%	0.08%
GME	C	0.02%	0.01%	0.01%
GMS	D	0.01%	0.01%	0.01%
GNRC	C	0.02%	0.01%	0.01%
GOGO	F	0.0%	0.0%	0.0%
GOOG	C	1.39%	1.27%	1.27%
GOOGL	C	0.85%	1.24%	0.85%
GPN	F	0.06%	0.0%	0.0%
GRBK	A	0.01%	0.01%	0.01%
GS	A	0.52%	0.31%	0.31%
GXO	D	0.02%	0.0%	0.0%
HAE	C	0.01%	0.0%	0.0%
HAL	F	0.09%	0.06%	0.06%
HASI	C	0.01%	0.01%	0.01%
HAYN	B	0.0%	0.0%	0.0%
HCA	D	0.2%	0.02%	0.02%
HD	C	0.46%	0.48%	0.46%
HES	D	0.07%	0.13%	0.07%
HIBB	A	0.01%	0.0%	0.0%
HOG	D	0.02%	0.0%	0.0%
HON	B	0.23%	0.21%	0.21%
HPE	B	0.25%	0.07%	0.07%
HPQ	C	0.28%	0.11%	0.11%
HSII	D	0.0%	0.0%	0.0%
HST	D	0.04%	0.0%	0.0%
HSY	D	0.06%	0.13%	0.06%
IBM	C	0.39%	0.24%	0.24%
IBP	C	0.01%	0.0%	0.0%
ICHR	C	0.0%	0.0%	0.0%
IDXX	D	0.02%	0.01%	0.01%
IFF	B	0.06%	0.02%	0.02%
IIIN	D	0.0%	0.0%	0.0%
IIPR	A	0.01%	0.02%	0.01%
ILMN	D	0.02%	0.01%	0.01%
INN	D	0.01%	0.0%	0.0%
INTC	D	0.46%	0.18%	0.18%
INTU	C	0.06%	0.38%	0.06%
IR	B	0.02%	0.12%	0.02%
ISRG	B	0.09%	0.09%	0.09%
ITRI	D	0.01%	0.01%	0.01%
ITW	D	0.09%	0.12%	0.09%
JCI	C	0.14%	0.15%	0.14%
JNJ	D	0.81%	0.39%	0.39%
JNPR	B	0.03%	0.06%	0.03%
JPM	B	1.44%	0.84%	0.84%
K	D	0.06%	0.05%	0.05%
KD	C	0.03%	0.01%	0.01%
KEX	B	0.02%	0.01%	0.01%
KEYS	D	0.03%	0.11%	0.03%
KHC	D	0.24%	0.0%	0.0%
KIM	C	0.03%	0.0%	0.0%
KLAC	B	0.07%	0.06%	0.06%
KLG	F	0.01%	0.0%	0.0%
KMB	A	0.11%	0.12%	0.11%
KMI	A	0.36%	0.03%	0.03%
KO	B	0.41%	0.31%	0.31%
KOP	F	0.0%	0.01%	0.0%
KREF	D	0.0%	0.0%	0.0%
KSS	D	0.02%	0.01%	0.01%
KVUE	F	0.19%	0.03%	0.03%
LDOS	B	0.05%	0.03%	0.03%
LGIH	D	0.01%	0.0%	0.0%
LIN	C	0.2%	0.32%	0.2%
LLY	B	0.25%	0.87%	0.25%
LMT	D	0.31%	0.23%	0.23%
LNTH	B	0.01%	0.03%	0.01%
LNW	B	0.02%	0.03%	0.02%
LOW	C	0.2%	0.25%	0.2%
LRCX	C	0.12%	0.1%	0.1%
LSCC	F	0.0%	0.0%	0.0%
LULU	F	0.03%	0.02%	0.02%
LUMN	F	0.01%	0.0%	0.0%
LVS	F	0.06%	0.04%	0.04%
LW	F	0.02%	0.05%	0.02%
LYB	F	0.23%	0.08%	0.08%
M	C	0.05%	0.01%	0.01%
MA	D	0.13%	0.39%	0.13%
MAT	F	0.01%	0.0%	0.0%
MATX	C	0.02%	0.01%	0.01%
MCD	D	0.14%	0.2%	0.14%
MCK	C	0.41%	0.25%	0.25%
MCRI	C	0.0%	0.01%	0.0%
MDLZ	F	0.21%	0.06%	0.06%
MDT	D	0.32%	0.21%	0.21%
MET	C	0.39%	0.18%	0.18%
META	C	1.7%	1.39%	1.39%
MGPI	F	0.0%	0.0%	0.0%
MHO	C	0.01%	0.01%	0.01%
MKC	C	0.04%	0.1%	0.04%
MMC	A	0.12%	0.17%	0.12%
MMM	B	0.23%	0.08%	0.08%
MO	A	0.32%	0.08%	0.08%
MOS	F	0.08%	0.02%	0.02%
MP	F	0.0%	0.0%	0.0%
MPC	F	0.58%	0.19%	0.19%
MPWR	C	0.01%	0.03%	0.01%
MRK	C	0.42%	0.43%	0.42%
MRNA	D	0.05%	0.04%	0.04%
MRO	B	0.09%	0.07%	0.07%
MS	A	0.52%	0.25%	0.25%
MSFT	C	1.72%	3.87%	1.72%
MTB	A	0.13%	0.1%	0.1%
MTCH	D	0.01%	0.0%	0.0%
MTDR	C	0.03%	0.02%	0.02%
MU	C	0.2%	0.1%	0.1%
MXL	C	0.0%	0.0%	0.0%
NABL	B	0.0%	0.0%	0.0%
NARI	C	0.0%	0.0%	0.0%
NCLH	C	0.03%	0.0%	0.0%
NEE	C	0.35%	0.24%	0.24%
NEM	A	0.15%	0.04%	0.04%
NEO	D	0.0%	0.0%	0.0%
NEOG	C	0.0%	0.0%	0.0%
NFLX	C	0.18%	0.32%	0.18%
NKE	F	0.13%	0.19%	0.13%
NMIH	A	0.01%	0.0%	0.0%
NOC	F	0.14%	0.15%	0.14%
NOV	C	0.03%	0.01%	0.01%
NOW	C	0.05%	0.13%	0.05%
NSC	D	0.11%	0.14%	0.11%
NTAP	B	0.04%	0.11%	0.04%
NUE	D	0.13%	0.02%	0.02%
NVDA	C	0.36%	3.73%	0.36%
NVRI	C	0.01%	0.0%	0.0%
NVT	D	0.02%	0.0%	0.0%
NWSA	A	0.03%	0.01%	0.01%
NX	F	0.0%	0.0%	0.0%
NXPI	B	0.09%	0.01%	0.01%
NXRT	C	0.0%	0.06%	0.0%
ODFL	C	0.03%	0.0%	0.0%
OGN	C	0.05%	0.01%	0.01%
OII	C	0.01%	0.02%	0.01%
OMI	F	0.01%	0.01%	0.01%
ON	D	0.05%	0.01%	0.01%
ORA	C	0.01%	0.01%	0.01%
ORCL	B	0.38%	0.37%	0.37%
ORLY	C	0.07%	0.19%	0.07%
OTIS	B	0.04%	0.04%	0.04%
OVV	D	0.11%	0.0%	0.0%
OXY	D	0.23%	0.06%	0.06%
PANW	C	0.06%	0.1%	0.06%
PARA	D	0.05%	0.02%	0.02%
PARR	F	0.01%	0.0%	0.0%
PBF	F	0.05%	0.02%	0.02%
PCG	C	0.11%	0.0%	0.0%
PCH	F	0.01%	0.01%	0.01%
PEG	B	0.13%	0.13%	0.13%
PEN	F	0.0%	0.01%	0.0%
PENN	C	0.03%	0.0%	0.0%
PEP	D	0.37%	0.28%	0.28%
PFE	C	0.85%	0.2%	0.2%
PG	D	0.52%	0.49%	0.49%
PGR	B	0.16%	0.15%	0.15%
PH	C	0.08%	0.13%	0.08%
PLAB	D	0.01%	0.0%	0.0%
PLAY	F	0.01%	0.01%	0.01%
PLD	C	0.15%	0.23%	0.15%
PLMR	C	0.0%	0.01%	0.0%
PM	A	0.49%	0.17%	0.17%
PNC	A	0.34%	0.13%	0.13%
PNR	D	0.02%	0.0%	0.0%
PODD	C	0.01%	0.0%	0.0%
POWL	D	0.01%	0.01%	0.01%
PPL	D	0.08%	0.07%	0.07%
PRG	D	0.02%	0.0%	0.0%
PRU	A	0.4%	0.15%	0.15%
PSA	B	0.06%	0.2%	0.06%
PSX	D	0.56%	0.06%	0.06%
PTEN	F	0.02%	0.01%	0.01%
PYPL	D	0.15%	0.11%	0.11%
QCOM	C	0.3%	0.35%	0.3%
QNST	D	0.0%	0.0%	0.0%
RAMP	F	0.0%	0.01%	0.0%
RCL	B	0.06%	0.02%	0.02%
RCUS	F	0.0%	0.01%	0.0%
RDNT	B	0.01%	0.01%	0.01%
REG	B	0.03%	0.0%	0.0%
REGN	B	0.14%	0.13%	0.13%
REZI	D	0.02%	0.0%	0.0%
RGEN	F	0.01%	0.0%	0.0%
RGNX	F	0.0%	0.0%	0.0%
ROCK	D	0.01%	0.0%	0.0%
ROIC	C	0.01%	0.09%	0.01%
ROST	A	0.06%	0.19%	0.06%
RRC	D	0.03%	0.0%	0.0%
RTX	D	0.41%	0.29%	0.29%
RUN	D	0.01%	0.0%	0.0%
SABR	D	0.01%	0.0%	0.0%
SAM	D	0.0%	0.0%	0.0%
SBUX	F	0.12%	0.18%	0.12%
SCHW	C	0.26%	0.17%	0.17%
SEDG	F	0.0%	0.0%	0.0%
SHC	D	0.01%	0.0%	0.0%
SHEN	D	0.0%	0.0%	0.0%
SHW	C	0.05%	0.03%	0.03%
SITM	B	0.0%	0.0%	0.0%
SJM	F	0.05%	0.07%	0.05%
SLB	D	0.16%	0.08%	0.08%
SM	D	0.03%	0.0%	0.0%
SMCI	C	0.03%	0.05%	0.03%
SNCY	D	0.0%	0.0%	0.0%
SNPS	B	0.06%	0.05%	0.05%
SO	B	0.29%	0.07%	0.07%
SOLV	F	0.0%	0.01%	0.0%
SONO	F	0.0%	0.0%	0.0%
SPG	B	0.06%	0.13%	0.06%
SPGI	A	0.12%	0.22%	0.12%
SPWR	F	0.0%	0.0%	0.0%
STAA	C	0.0%	0.0%	0.0%
STT	B	0.12%	0.06%	0.06%
STX	B	0.05%	0.07%	0.05%
SVC	F	0.01%	0.0%	0.0%
SYF	A	0.18%	0.04%	0.04%
SYK	C	0.09%	0.18%	0.09%
SYY	D	0.12%	0.12%	0.12%
T	B	1.26%	0.18%	0.18%
TBBK	C	0.01%	0.02%	0.01%
TEL	A	0.11%	0.17%	0.11%
TGI	B	0.0%	0.01%	0.0%
TGT	C	0.23%	0.12%	0.12%
THO	D	0.03%	0.0%	0.0%
THRM	D	0.0%	0.0%	0.0%
TJX	A	0.17%	0.34%	0.17%
TMO	D	0.17%	0.41%	0.17%
TMUS	B	0.38%	0.05%	0.05%
TNDM	C	0.0%	0.0%	0.0%
TPR	C	0.03%	0.03%	0.03%
TREX	D	0.01%	0.01%	0.01%
TRUP	C	0.0%	0.0%	0.0%
TRV	D	0.16%	0.17%	0.16%
TSLA	C	0.53%	0.8%	0.53%
TSN	D	0.15%	0.07%	0.07%
TT	A	0.07%	0.16%	0.07%
TTGT	C	0.0%	0.02%	0.0%
TTWO	F	0.02%	0.0%	0.0%
TXN	B	0.25%	0.4%	0.25%
UBER	C	0.09%	0.13%	0.09%
UCTT	B	0.01%	0.0%	0.0%
UNH	D	1.04%	0.58%	0.58%
UNIT	D	0.0%	0.0%	0.0%
UNP	D	0.23%	0.26%	0.23%
UPS	F	0.41%	0.11%	0.11%
URI	C	0.06%	0.02%	0.02%
USB	B	0.34%	0.1%	0.1%
UVV	D	0.01%	0.0%	0.0%
V	F	0.4%	0.63%	0.4%
VGR	C	0.01%	0.06%	0.01%
VGR	C	0.01%	0.0%	0.0%
VICR	D	0.0%	0.0%	0.0%
VIR	F	0.01%	0.0%	0.0%
VLO	D	0.49%	0.13%	0.13%
VLTO	D	0.02%	0.04%	0.02%
VNT	C	0.01%	0.01%	0.01%
VRTX	A	0.11%	0.08%	0.08%
VSCO	D	0.01%	0.0%	0.0%
VSTO	B	0.01%	0.01%	0.01%
VTRS	C	0.12%	0.01%	0.01%
VVI	C	0.0%	0.0%	0.0%
VZ	B	1.63%	0.14%	0.14%
WBA	F	0.07%	0.02%	0.02%
WBD	F	0.15%	0.02%	0.02%
WDC	B	0.06%	0.08%	0.06%
WFC	B	1.15%	0.37%	0.37%
WGO	F	0.01%	0.0%	0.0%
WM	B	0.1%	0.22%	0.1%
WMB	B	0.16%	0.07%	0.07%
WMT	B	1.59%	0.35%	0.35%
WOLF	F	0.0%	0.0%	0.0%
WRLD	C	0.01%	0.01%	0.01%
WSR	A	0.0%	0.01%	0.0%
XHR	C	0.01%	0.0%	0.0%
XOM	D	2.12%	0.68%	0.68%
XPO	D	0.03%	0.01%	0.01%
YETI	D	0.0%	0.01%	0.0%
YUM	F	0.03%	0.11%	0.03%
ZEUS	F	0.0%	0.0%	0.0%
ZI	F	0.01%	0.0%	0.0%
ZTS	C	0.05%	0.1%	0.05%

VLU Overweight 947 Positions Relative to SPGM

Symbol	Grade	Weight
TFC	A	0.49%
KR	C	0.32%
DAL	D	0.29%
AIG	C	0.27%
HUM	D	0.24%
CAH	F	0.22%
D	C	0.22%
LUV	D	0.16%
SRE	B	0.16%
PFG	C	0.16%
BBY	B	0.15%
BG	B	0.15%
UAL	D	0.15%
IP	C	0.14%
KEY	B	0.13%
ED	D	0.13%
RGA	A	0.13%
FANG	B	0.13%
L	C	0.13%
OKE	A	0.12%
KDP	D	0.12%
XEL	D	0.12%
WRK	C	0.12%
ETR	D	0.12%
LEN	C	0.12%
HIG	C	0.12%
PCAR	D	0.12%
ACGL	D	0.12%
ICE	A	0.11%
O	C	0.11%
LHX	A	0.1%
RF	A	0.1%
CCI	C	0.1%
CHRD	D	0.1%
HBAN	C	0.1%
FITB	B	0.1%
AMP	B	0.1%
WELL	B	0.1%
SNX	D	0.09%
EG	C	0.09%
UNM	D	0.09%
CHK	D	0.09%
TAP	F	0.09%
VICI	C	0.09%
MAR	C	0.09%
RSG	A	0.09%
DTE	C	0.09%
PFGC	F	0.09%
AEE	C	0.08%
DINO	F	0.08%
CNP	D	0.08%
STLD	C	0.08%
TROW	B	0.08%
ES	C	0.08%
HRL	F	0.08%
X	C	0.08%
WEC	D	0.08%
DG	D	0.08%
MCHP	D	0.07%
EVRG	C	0.07%
APH	B	0.07%
PPG	D	0.07%
AVB	C	0.07%
AAL	F	0.07%
FNF	C	0.07%
TRGP	A	0.07%
BWA	F	0.07%
CTRA	D	0.07%
DVA	C	0.07%
EQH	A	0.07%
NTRS	B	0.07%
VTR	A	0.07%
SWN	D	0.07%
VST	C	0.07%
AFG	D	0.07%
NRG	D	0.06%
MUR	D	0.06%
STZ	B	0.06%
THC	B	0.06%
GRMN	C	0.06%
ROP	C	0.06%
AMCR	D	0.06%
AWK	C	0.06%
GPC	D	0.06%
ATO	B	0.06%
ARW	D	0.06%
OMC	C	0.06%
ZION	A	0.06%
WY	D	0.06%
CINF	B	0.06%
CIVI	D	0.06%
WTW	B	0.06%
LEA	F	0.06%
CBRE	B	0.06%
CMA	A	0.06%
AZO	C	0.06%
IVZ	C	0.06%
MGM	C	0.06%
LAD	D	0.06%
USFD	D	0.06%
EXR	B	0.05%
IBKR	D	0.05%
RNR	D	0.05%
EMN	D	0.05%
OC	C	0.05%
CE	D	0.05%
AL	C	0.05%
UHS	B	0.05%
PNW	B	0.05%
ABG	C	0.05%
JEF	A	0.05%
FHN	A	0.05%
KMX	C	0.05%
ARMK	C	0.05%
ALK	F	0.05%
GWW	D	0.05%
INVH	C	0.05%
CPB	B	0.05%
JBL	F	0.05%
GPS	C	0.05%
BXP	B	0.05%
WPC	C	0.05%
COOP	B	0.05%
WRB	D	0.05%
RS	C	0.05%
JXN	B	0.05%
IQV	D	0.05%
LNC	B	0.05%
SWK	D	0.05%
PAYX	F	0.05%
R	C	0.05%
ZBH	F	0.05%
SWKS	B	0.05%
WHR	C	0.05%
RJF	D	0.05%
NVR	B	0.05%
STWD	C	0.05%
NI	A	0.05%
NDAQ	B	0.05%
DGX	B	0.05%
PHM	C	0.05%
CMS	D	0.05%
EW	B	0.05%
AJG	A	0.05%
ARE	B	0.05%
MHK	C	0.05%
MNST	D	0.05%
CNX	B	0.04%
CPT	B	0.04%
DKS	C	0.04%
CPRT	B	0.04%
TSCO	D	0.04%
CTAS	B	0.04%
GPI	D	0.04%
BERY	C	0.04%
IRM	B	0.04%
WCC	D	0.04%
LKQ	D	0.04%
COLB	C	0.04%
PKG	C	0.04%
HCC	C	0.04%
J	C	0.04%
MSI	B	0.04%
IPG	F	0.04%
LNT	B	0.04%
AN	C	0.04%
CDW	D	0.04%
MAA	B	0.04%
VNO	C	0.04%
WAB	D	0.04%
TOL	C	0.04%
VOYA	D	0.04%
OZK	C	0.04%
FOX	A	0.04%
JLL	A	0.04%
MCO	A	0.04%
WU	D	0.04%
GLPI	B	0.04%
VFC	D	0.04%
TXT	C	0.04%
ROK	C	0.04%
MOH	F	0.04%
EXPD	B	0.04%
ESS	B	0.04%
EWBC	C	0.04%
DRI	F	0.04%
JHG	B	0.04%
ORI	C	0.04%
WLK	D	0.04%
AMKR	B	0.04%
AVT	C	0.04%
BALL	D	0.04%
UGI	D	0.04%
URBN	A	0.03%
WSM	C	0.03%
HRB	C	0.03%
HAS	D	0.03%
FLR	A	0.03%
MTZ	D	0.03%
TGNA	C	0.03%
RDN	B	0.03%
QRVO	B	0.03%
HUBB	D	0.03%
NNN	A	0.03%
CSL	B	0.03%
SON	F	0.03%
FNB	A	0.03%
PAG	C	0.03%
GDDY	C	0.03%
GPK	D	0.03%
RL	C	0.03%
ANSS	C	0.03%
AMH	C	0.03%
CBOE	F	0.03%
ACM	D	0.03%
NFG	C	0.03%
MDU	C	0.03%
OGE	B	0.03%
BXMT	C	0.03%
WFRD	B	0.03%
ALV	D	0.03%
HSIC	D	0.03%
GNW	D	0.03%
IT	C	0.03%
APLE	D	0.03%
WTRG	C	0.03%
FMC	F	0.03%
POST	B	0.03%
GL	D	0.03%
XYL	D	0.03%
CNO	A	0.03%
HIW	B	0.03%
VLY	D	0.03%
PK	F	0.03%
ARCH	F	0.03%
ASB	C	0.03%
ONB	A	0.03%
SF	B	0.03%
CNXC	D	0.03%
NXST	B	0.03%
PR	C	0.03%
UDR	B	0.03%
CCK	D	0.03%
ABM	B	0.03%
FAF	D	0.03%
HII	D	0.03%
TDY	D	0.03%
AKAM	D	0.03%
SNA	D	0.03%
SKX	D	0.03%
INGR	D	0.03%
VMC	C	0.03%
HWM	D	0.03%
JBHT	D	0.03%
ULTA	D	0.03%
MLM	D	0.03%
CACI	B	0.03%
FYBR	B	0.03%
TMHC	C	0.03%
MAN	F	0.03%
GT	F	0.03%
SNV	A	0.03%
BRO	B	0.03%
LYV	C	0.03%
AGCO	F	0.03%
OGS	C	0.03%
WBS	C	0.03%
CASY	B	0.03%
AAP	F	0.03%
NOG	C	0.03%
KNX	C	0.03%
HP	D	0.03%
CMC	C	0.03%
UTHR	B	0.03%
OHI	A	0.03%
CPAY	C	0.03%
DOV	C	0.03%
BKH	C	0.03%
SANM	A	0.03%
AME	C	0.03%
PWR	D	0.03%
WSO	B	0.03%
KRC	C	0.03%
BJ	B	0.03%
MUSA	B	0.03%
AIZ	D	0.03%
COLM	D	0.02%
TTEK	D	0.02%
STAG	B	0.02%
SEIC	C	0.02%
CRS	B	0.02%
CABO	F	0.02%
SEE	D	0.02%
OI	F	0.02%
ERIE	D	0.02%
PSTG	B	0.02%
CBT	D	0.02%
KBR	D	0.02%
ASO	F	0.02%
EEFT	D	0.02%
GEF	D	0.02%
CIEN	F	0.02%
PEB	D	0.02%
CXW	D	0.02%
AXTA	C	0.02%
BANR	B	0.02%
SLM	C	0.02%
ELS	C	0.02%
JBGS	C	0.02%
MTN	F	0.02%
RNST	B	0.02%
PPC	C	0.02%
GNTX	C	0.02%
BCC	D	0.02%
VAL	B	0.02%
CRUS	B	0.02%
TALO	D	0.02%
IDA	C	0.02%
AUB	B	0.02%
ANDE	F	0.02%
BHE	C	0.02%
MMS	B	0.02%
NWE	C	0.02%
POR	C	0.02%
MGY	B	0.02%
NDSN	D	0.02%
TFX	C	0.02%
WAT	D	0.02%
REXR	C	0.02%
IBTX	B	0.02%
EVR	A	0.02%
PNM	D	0.02%
GBX	F	0.02%
BC	D	0.02%
SIGI	D	0.02%
BLD	C	0.02%
BANC	C	0.02%
MSM	F	0.02%
SBAC	C	0.02%
LII	B	0.02%
HBI	C	0.02%
VSH	C	0.02%
KAR	C	0.02%
TKR	D	0.02%
VVV	B	0.02%
LBRT	D	0.02%
EAT	D	0.02%
FHB	B	0.02%
FLO	F	0.02%
AOS	C	0.02%
ASH	D	0.02%
CW	B	0.02%
AGO	C	0.02%
PRI	B	0.02%
PFS	C	0.02%
EFX	C	0.02%
ATI	D	0.02%
TYL	B	0.02%
SR	B	0.02%
MLKN	C	0.02%
WAFD	C	0.02%
G	D	0.02%
HOMB	B	0.02%
NATL	C	0.02%
AVNT	D	0.02%
TCBI	B	0.02%
SKYW	B	0.02%
SLGN	D	0.02%
FFIV	C	0.02%
PDCO	F	0.02%
CRC	C	0.02%
THG	D	0.02%
CBSH	B	0.02%
SAIC	D	0.02%
FL	D	0.02%
CWEN	D	0.02%
HLT	B	0.02%
TDS	C	0.02%
GEO	B	0.02%
ADC	B	0.02%
CWK	A	0.02%
WWD	D	0.02%
TPH	B	0.02%
ALE	C	0.02%
SBRA	B	0.02%
RPM	D	0.02%
MTH	C	0.02%
TRMB	C	0.02%
FFBC	B	0.02%
CFR	C	0.02%
IBOC	A	0.02%
ST	C	0.02%
JBLU	C	0.02%
SWX	D	0.02%
PTC	C	0.02%
SSB	B	0.02%
EHC	B	0.02%
PRGO	F	0.02%
WYNN	F	0.02%
UBSI	C	0.02%
SFM	B	0.02%
KBH	B	0.02%
SFNC	B	0.02%
COKE	C	0.02%
ESNT	B	0.02%
PNFP	C	0.02%
SNEX	B	0.02%
RHI	F	0.02%
WTFC	B	0.02%
AM	B	0.02%
UFPI	C	0.02%
SATS	C	0.02%
DTM	B	0.02%
CG	C	0.02%
CADE	B	0.02%
INCY	B	0.02%
CNK	B	0.02%
ZBRA	B	0.02%
SIG	D	0.02%
RMD	D	0.02%
PVH	D	0.02%
CUZ	B	0.02%
JWN	A	0.02%
PII	F	0.02%
SCI	C	0.02%
DECK	D	0.02%
BR	B	0.02%
JAZZ	F	0.02%
MTD	D	0.02%
BKU	B	0.02%
TRN	D	0.02%
TER	B	0.02%
LAMR	C	0.02%
NSIT	C	0.02%
NYCB	D	0.02%
H	B	0.02%
TDG	D	0.02%
OLN	D	0.02%
MLI	B	0.02%
CUBE	B	0.02%
BIO	D	0.02%
ETRN	D	0.02%
STE	D	0.02%
VRSN	D	0.02%
SEM	A	0.02%
MAS	C	0.02%
BRX	B	0.02%
OSK	D	0.02%
CALM	A	0.02%
HOLX	B	0.02%
GHC	C	0.02%
DAR	F	0.02%
MTG	A	0.02%
DEI	C	0.02%
EME	D	0.02%
AVY	D	0.02%
PB	C	0.02%
HWC	A	0.02%
NWL	F	0.02%
MPW	D	0.02%
CR	C	0.02%
CATY	C	0.02%
CLH	B	0.02%
LGND	B	0.01%
OMCL	F	0.01%
AMWD	D	0.01%
NBHC	A	0.01%
ESE	C	0.01%
AWR	C	0.01%
UFCS	D	0.01%
EZPW	D	0.01%
VRRM	B	0.01%
MSGS	C	0.01%
BGS	F	0.01%
CHCO	B	0.01%
RCM	D	0.01%
ROG	C	0.01%
BRKR	F	0.01%
CHH	C	0.01%
KNF	C	0.01%
MYGN	B	0.01%
ALGT	F	0.01%
SAFT	C	0.01%
PCTY	F	0.01%
RMBS	C	0.01%
JBT	D	0.01%
GES	D	0.01%
PAYC	F	0.01%
AEIS	C	0.01%
SKT	D	0.01%
FWRD	D	0.01%
CHE	F	0.01%
AZZ	C	0.01%
EXP	D	0.01%
MSA	B	0.01%
GTY	C	0.01%
TRIP	F	0.01%
HCSG	D	0.01%
CPF	A	0.01%
BKE	C	0.01%
VRTS	C	0.01%
GFF	D	0.01%
CARG	B	0.01%
HAIN	F	0.01%
CWT	C	0.01%
AIN	D	0.01%
CPK	C	0.01%
AWI	C	0.01%
SBCF	C	0.01%
CAL	D	0.01%
EGBN	D	0.01%
FIVE	F	0.01%
RES	F	0.01%
FTDR	D	0.01%
SCL	C	0.01%
NHC	B	0.01%
MGEE	C	0.01%
EIG	B	0.01%
FOXF	D	0.01%
NGVT	F	0.01%
FSS	C	0.01%
MMSI	B	0.01%
TPX	D	0.01%
PLUS	D	0.01%
CFFN	C	0.01%
MC	B	0.01%
BHLB	B	0.01%
CVCO	C	0.01%
OUT	C	0.01%
MNRO	F	0.01%
ICUI	C	0.01%
FCPT	B	0.01%
EXLS	B	0.01%
DORM	D	0.01%
PJT	B	0.01%
DCOM	C	0.01%
BDC	C	0.01%
RYN	F	0.01%
SMPL	D	0.01%
ALKS	F	0.01%
DAY	F	0.01%
ALGM	C	0.01%
IART	D	0.01%
HPP	D	0.01%
NOVT	C	0.01%
JJSF	C	0.01%
ENR	C	0.01%
HQY	D	0.01%
KN	A	0.01%
MASI	F	0.01%
GO	F	0.01%
STC	B	0.01%
ZD	F	0.01%
CLW	D	0.01%
THS	D	0.01%
SFBS	B	0.01%
OSIS	B	0.01%
EPC	B	0.01%
SHO	C	0.01%
FELE	C	0.01%
WST	D	0.01%
YELP	F	0.01%
MORN	B	0.01%
SGH	B	0.01%
SPTN	D	0.01%
HALO	B	0.01%
CWEN	D	0.01%
UNFI	D	0.01%
MYRG	D	0.01%
TDC	D	0.01%
KWR	D	0.01%
UE	A	0.01%
AVAV	D	0.01%
HELE	F	0.01%
WD	C	0.01%
HXL	D	0.01%
AHCO	D	0.01%
HLX	A	0.01%
WEN	D	0.01%
NBR	D	0.01%
FCF	B	0.01%
AMED	A	0.01%
OLED	B	0.01%
SYNA	F	0.01%
AKR	B	0.01%
STRA	D	0.01%
BCPC	B	0.01%
SCVL	B	0.01%
B	B	0.01%
OFG	A	0.01%
FND	F	0.01%
PHIN	D	0.01%
CVI	F	0.01%
LANC	D	0.01%
LTC	B	0.01%
HMN	D	0.01%
PIPR	A	0.01%
RWT	C	0.01%
CBRL	F	0.01%
SSD	C	0.01%
GVA	C	0.01%
BWXT	C	0.01%
LXP	B	0.01%
SCHL	D	0.01%
UNF	C	0.01%
CGNX	C	0.01%
MATV	D	0.01%
STBA	A	0.01%
RH	D	0.01%
KMT	D	0.01%
KLIC	C	0.01%
MEDP	B	0.01%
PRDO	D	0.01%
ONTO	C	0.01%
BDN	C	0.01%
ARCB	D	0.01%
SXC	C	0.01%
KELYA	F	0.01%
GTLS	C	0.01%
CRI	F	0.01%
IOSP	D	0.01%
PRK	B	0.01%
FDP	D	0.01%
AROC	A	0.01%
SHOO	B	0.01%
IDCC	B	0.01%
KALU	D	0.01%
FORM	C	0.01%
MTSI	B	0.01%
ITGR	C	0.01%
FFIN	C	0.01%
MKTX	D	0.01%
PINC	F	0.01%
ENOV	F	0.01%
SXT	B	0.01%
NBTB	B	0.01%
LRN	D	0.01%
PECO	C	0.01%
NPO	C	0.01%
PATK	C	0.01%
IRT	B	0.01%
VC	F	0.01%
ENSG	B	0.01%
WTS	D	0.01%
BOH	C	0.01%
CNXN	D	0.01%
POOL	F	0.01%
PUMP	F	0.01%
SAH	D	0.01%
CAKE	D	0.01%
AXL	F	0.01%
APAM	D	0.01%
SITC	A	0.01%
CCOI	D	0.01%
BRC	C	0.01%
MODG	D	0.01%
LZB	B	0.01%
WWW	D	0.01%
RLI	D	0.01%
CTRE	B	0.01%
DLX	C	0.01%
WSFS	B	0.01%
IPGP	D	0.01%
NSP	F	0.01%
BLMN	F	0.01%
NWS	A	0.01%
PBH	B	0.01%
CBU	B	0.01%
ACIW	A	0.01%
OPCH	D	0.01%
AMN	F	0.01%
VSAT	F	0.01%
CENTA	D	0.01%
WH	C	0.01%
WS	C	0.01%
CRK	D	0.01%
SCSC	D	0.01%
HGV	C	0.01%
BGC	A	0.01%
RXO	B	0.01%
NSA	B	0.01%
MTX	C	0.01%
LCII	D	0.01%
LOPE	C	0.01%
HI	D	0.01%
ECPG	D	0.01%
NEU	D	0.01%
WMS	D	0.01%
RBC	C	0.01%
EGP	B	0.01%
SBH	C	0.01%
NYT	B	0.01%
PBI	A	0.01%
OTTR	D	0.01%
FHI	B	0.01%
NBIX	B	0.01%
SMG	D	0.01%
EPR	C	0.01%
ROL	C	0.01%
TTMI	B	0.01%
KW	D	0.01%
UA	D	0.01%
TRMK	A	0.01%
GIII	F	0.01%
INDB	C	0.01%
DLB	D	0.01%
PSMT	D	0.01%
UAA	D	0.01%
FUL	C	0.01%
SAIA	D	0.01%
DIOD	C	0.01%
NVST	F	0.01%
XRAY	F	0.01%
VBTX	B	0.01%
HNI	A	0.01%
BANF	C	0.01%
PLXS	C	0.01%
UCBI	C	0.01%
HLI	A	0.01%
INVA	B	0.01%
FIX	D	0.01%
TEX	D	0.01%
LITE	B	0.01%
GGG	D	0.01%
GBCI	C	0.01%
MKSI	B	0.01%
SLCA	D	0.01%
ACA	C	0.01%
OLLI	A	0.01%
KTB	D	0.01%
AEO	D	0.01%
NWN	C	0.01%
FN	B	0.01%
AYI	D	0.01%
XRX	F	0.01%
WERN	D	0.01%
LECO	F	0.01%
AIT	C	0.01%
FDS	D	0.01%
CNM	D	0.01%
FBP	A	0.01%
ATGE	A	0.01%
WEX	F	0.01%
ACHC	D	0.01%
MSCI	C	0.01%
HOPE	B	0.01%
LPX	D	0.01%
SRCL	B	0.01%
FCN	C	0.01%
NAVI	D	0.01%
ATR	D	0.01%
PPBI	C	0.01%
MCY	D	0.01%
BCO	B	0.01%
TTC	C	0.01%
SLVM	D	0.01%
MAC	C	0.01%
SPNT	C	0.01%
ABCB	A	0.01%
ASGN	D	0.01%
IEX	D	0.01%
VMI	B	0.01%
DBX	F	0.01%
LSTR	F	0.01%
PMT	C	0.01%
ODP	F	0.01%
DPZ	D	0.01%
NWBI	B	0.01%
VRSK	B	0.01%
JKHY	D	0.01%
CVBF	C	0.01%
LFUS	C	0.01%
RC	C	0.01%
EXEL	B	0.01%
LEG	D	0.01%
ITT	C	0.01%
RUSHA	C	0.01%
VSTS	D	0.01%
GMED	A	0.01%
DCI	D	0.01%
AVA	D	0.01%
FRT	A	0.01%
CTLT	B	0.01%
NJR	C	0.01%
LPG	D	0.01%
ARI	C	0.01%
KFY	C	0.01%
CRL	D	0.01%
HTH	C	0.01%
CHDN	B	0.01%
MOG.A	B	0.01%
RGLD	A	0.01%
DY	B	0.01%
FR	B	0.01%
FULT	A	0.01%
HUBG	C	0.01%
MIDD	D	0.01%
KMPR	B	0.01%
UMBF	A	0.01%
GNL	C	0.01%
FLS	C	0.01%
WOR	F	0.01%
VAC	F	0.01%
RRX	D	0.01%
TNL	C	0.01%
TXRH	D	0.01%
CPRI	D	0.01%
GATX	A	0.01%
KRG	B	0.01%
BYD	C	0.01%
SLG	B	0.01%
UHT	C	0.0%
NPK	D	0.0%
CHUY	F	0.0%
XPEL	F	0.0%
VCEL	C	0.0%
MSEX	D	0.0%
CNMD	F	0.0%
LESL	F	0.0%
VREX	F	0.0%
CLB	C	0.0%
HCI	F	0.0%
LQDT	B	0.0%
CMP	F	0.0%
PCRX	F	0.0%
BMI	C	0.0%
HVT	F	0.0%
MYE	F	0.0%
SSTK	F	0.0%
COHU	C	0.0%
PGNY	D	0.0%
JBSS	D	0.0%
EPAC	B	0.0%
ASTE	F	0.0%
MRCY	D	0.0%
SXI	C	0.0%
CTS	C	0.0%
IPAR	D	0.0%
XNCR	F	0.0%
PRLB	D	0.0%
HRMY	C	0.0%
PZZA	F	0.0%
DV	F	0.0%
CCRN	F	0.0%
SLAB	F	0.0%
DRQ	F	0.0%
CENT	F	0.0%
KNSL	F	0.0%
WDFC	D	0.0%
CVGW	F	0.0%
RGR	F	0.0%
VIAV	F	0.0%
LNN	F	0.0%
JACK	F	0.0%
AMPH	F	0.0%
RILY	F	0.0%
CSGS	D	0.0%
NUS	F	0.0%
TMP	C	0.0%
THRY	F	0.0%
ASIX	F	0.0%
TILE	D	0.0%
IRDM	F	0.0%
ALG	F	0.0%
GPRE	F	0.0%
BSIG	B	0.0%
AMSF	D	0.0%
TNC	D	0.0%
GDEN	F	0.0%
DXPE	D	0.0%
SJW	D	0.0%
USNA	F	0.0%
SMP	F	0.0%
SPSC	C	0.0%
WING	D	0.0%
BLKB	D	0.0%
HTLD	D	0.0%
WABC	C	0.0%
SMTC	C	0.0%
MCW	F	0.0%
DFIN	D	0.0%
MD	F	0.0%
IRWD	D	0.0%
BOX	F	0.0%
POWI	D	0.0%
PAHC	C	0.0%
MATW	F	0.0%
CRVL	B	0.0%
HFWA	C	0.0%
LIVN	F	0.0%
REX	D	0.0%
SUPN	C	0.0%
AMCX	F	0.0%
PRGS	C	0.0%
PLNT	B	0.0%
EXPO	B	0.0%
ALRM	C	0.0%
QLYS	F	0.0%
NVEE	D	0.0%
USPH	F	0.0%
HLIT	C	0.0%
NTCT	F	0.0%
WNC	F	0.0%
FBNC	B	0.0%
PRA	F	0.0%
LKFN	C	0.0%
ETD	D	0.0%
JOE	C	0.0%
MANH	C	0.0%
PRFT	C	0.0%
HAFC	C	0.0%
PRAA	F	0.0%
CNSL	B	0.0%
TRST	B	0.0%
CACC	C	0.0%
UTL	A	0.0%
SHAK	D	0.0%
EVTC	F	0.0%
HZO	C	0.0%
TWI	F	0.0%
VTOL	C	0.0%
CVLT	B	0.0%
VECO	C	0.0%
CORT	C	0.0%
TR	D	0.0%
ENV	D	0.0%
MMI	C	0.0%
MOV	D	0.0%
MERC	F	0.0%
MRTN	D	0.0%
MTRN	D	0.0%
OXM	D	0.0%
PFBC	C	0.0%
BRKL	C	0.0%
HWKN	B	0.0%
BFS	B	0.0%
CSR	B	0.0%
AZTA	D	0.0%
HTZ	F	0.0%
AAT	A	0.0%
FTRE	F	0.0%
AIR	A	0.0%
TECH	D	0.0%
SBSI	C	0.0%
AMBC	F	0.0%
APOG	D	0.0%
ESAB	D	0.0%

VLU Underweight 474 Positions Relative to SPGM

Symbol	Grade	Weight
TSM	B	-1.01%
TM	F	-0.32%
NVS	B	-0.24%
SONY	B	-0.2%
MUFG	B	-0.17%
BABA	C	-0.17%
IBN	B	-0.17%
UL	A	-0.16%
CNI	D	-0.15%
INFY	B	-0.15%
RDY	A	-0.13%
TD	D	-0.12%
AZN	D	-0.1%
PDD	D	-0.1%
CRWD	C	-0.1%
MELI	B	-0.09%
SHOP	D	-0.09%
VALE	F	-0.08%
UMH	B	-0.08%
CHT	F	-0.08%
SMFG	B	-0.08%
HDB	C	-0.07%
STLA	F	-0.07%
UMC	C	-0.07%
DEO	F	-0.07%
E	D	-0.06%
BCS	A	-0.06%
TCOM	D	-0.06%
MFG	B	-0.06%
WIT	B	-0.06%
PKX	D	-0.06%
MOD	B	-0.05%
COIN	D	-0.05%
TTD	C	-0.05%
ITUB	C	-0.05%
NMR	C	-0.05%
PLTR	B	-0.05%
LYG	A	-0.05%
VRT	D	-0.05%
GEV	B	-0.04%
KB	B	-0.04%
SNOW	F	-0.04%
TMDX	C	-0.04%
GOOD	B	-0.04%
MRVL	C	-0.04%
SQ	D	-0.03%
FTI	B	-0.03%
DELL	C	-0.03%
AXNX	B	-0.03%
YUMC	F	-0.03%
HIMS	C	-0.03%
BBD	F	-0.03%
DDOG	C	-0.03%
NET	C	-0.03%
SE	B	-0.03%
BIDU	D	-0.03%
BRSP	C	-0.03%
HMC	F	-0.03%
DX	B	-0.03%
PBR	C	-0.03%
TAL	F	-0.02%
AZEK	D	-0.02%
MSTR	D	-0.02%
AIV	B	-0.02%
GGB	F	-0.02%
SNAP	C	-0.02%
QTWO	A	-0.02%
CVNA	B	-0.02%
DYN	A	-0.02%
ABEV	F	-0.02%
KOS	F	-0.02%
HOV	C	-0.02%
APP	C	-0.02%
HUBS	F	-0.02%
BABA	C	-0.02%
TAC	D	-0.02%
LI	F	-0.02%
GOLD	B	-0.02%
DKNG	F	-0.02%
MDB	F	-0.02%
ZS	C	-0.02%
WDAY	F	-0.02%
PINS	D	-0.02%
WTTR	B	-0.02%
MT	D	-0.02%
TEAM	D	-0.02%
ITCI	B	-0.02%
DASH	F	-0.02%
SHG	B	-0.02%
ELAN	F	-0.01%
BLFS	C	-0.01%
SMAR	C	-0.01%
BE	D	-0.01%
NSSC	B	-0.01%
RKLB	C	-0.01%
BCRX	C	-0.01%
BASE	F	-0.01%
SLP	F	-0.01%
RVLV	F	-0.01%
CCO	C	-0.01%
SQM	F	-0.01%
IQ	F	-0.01%
BGNE	F	-0.01%
U	F	-0.01%
LASR	F	-0.01%
PNTG	A	-0.01%
AI	C	-0.01%
PACK	C	-0.01%
GTLB	D	-0.01%
LOB	C	-0.01%
VITL	C	-0.01%
ASPN	D	-0.01%
IMVT	D	-0.01%
CMPR	C	-0.01%
LIND	C	-0.01%
BZ	D	-0.01%
RIOT	F	-0.01%
DQ	F	-0.01%
CLNE	F	-0.01%
Z	C	-0.01%
JKS	F	-0.01%
PHI	C	-0.01%
EXAS	F	-0.01%
PTCT	D	-0.01%
MITK	F	-0.01%
PAY	D	-0.01%
W	F	-0.01%
JBI	D	-0.01%
ZTO	F	-0.01%
LBRDK	D	-0.01%
ACMR	D	-0.01%
CLBT	C	-0.01%
RLX	F	-0.01%
ULH	D	-0.01%
BZH	C	-0.01%
INTA	D	-0.01%
FUTU	D	-0.01%
BLBD	D	-0.01%
ENVX	C	-0.01%
ZETA	C	-0.01%
OSW	B	-0.01%
SOFI	F	-0.01%
GSAT	D	-0.01%
FOUR	C	-0.01%
COMP	C	-0.01%
DOCU	D	-0.01%
RNA	A	-0.01%
IDYA	C	-0.01%
AGNC	A	-0.01%
XPEV	D	-0.01%
MGNI	C	-0.01%
PRTA	D	-0.01%
TWLO	F	-0.01%
PHR	F	-0.01%
ALNY	A	-0.01%
ROKU	D	-0.01%
SEMR	D	-0.01%
MNDY	C	-0.01%
AKRO	C	-0.01%
INMD	F	-0.01%
ERJ	C	-0.01%
MBIN	C	-0.01%
SQ	D	-0.01%
CLDX	D	-0.01%
MDGL	B	-0.01%
AKO.A	B	-0.01%
CLDT	D	-0.01%
HSTM	B	-0.01%
MRC	C	-0.01%
AFRM	F	-0.01%
THR	D	-0.01%
SRPT	C	-0.01%
TGTX	B	-0.01%
BEKE	D	-0.01%
INSP	F	-0.01%
SID	F	-0.01%
TOST	D	-0.01%
RYTM	C	-0.01%
MARA	D	-0.01%
TWST	B	-0.01%
VERX	B	-0.01%
CNH	F	-0.01%
GERN	C	-0.01%
NIO	F	-0.01%
FLNG	F	-0.01%
OKTA	D	-0.01%
CLSK	D	-0.01%
BBIO	F	-0.01%
VIPS	F	-0.01%
TME	B	-0.01%
SKY	C	-0.01%
ADMA	B	-0.01%
GMRE	C	-0.01%
VEEV	D	-0.01%
IMXI	F	-0.01%
ACEL	D	-0.01%
TEVA	B	-0.01%
RBLX	C	-0.01%
RIVN	C	-0.01%
ZM	F	-0.01%
SRG	F	-0.0%
KRYS	B	-0.0%
XPEV	D	-0.0%
LI	F	-0.0%
SMWB	F	-0.0%
ZNTL	F	-0.0%
ALEC	D	-0.0%
JOBY	C	-0.0%
JAMF	C	-0.0%
ATUS	F	-0.0%
OEC	D	-0.0%
TH	F	-0.0%
OLMA	C	-0.0%
SCLX	C	-0.0%
CRCT	D	-0.0%
AGL	D	-0.0%
REPX	C	-0.0%
DADA	F	-0.0%
CRNC	F	-0.0%
FLWS	C	-0.0%
BMBL	F	-0.0%
MORF	C	-0.0%
TPB	A	-0.0%
PKST	D	-0.0%
CGEM	D	-0.0%
BOC	F	-0.0%
SAVA	F	-0.0%
FNA	D	-0.0%
MLCO	F	-0.0%
EDIT	D	-0.0%
DENN	F	-0.0%
CABA	F	-0.0%
MCB	C	-0.0%
MLNK	C	-0.0%
PRVA	D	-0.0%
GDS	C	-0.0%
OLO	F	-0.0%
FSBC	C	-0.0%
KE	D	-0.0%
TELL	D	-0.0%
FIGS	D	-0.0%
PFC	C	-0.0%
MRVI	D	-0.0%
AMRC	D	-0.0%
VERV	D	-0.0%
ORLA	D	-0.0%
MAX	F	-0.0%
MNSO	F	-0.0%
KRUS	F	-0.0%
LAW	F	-0.0%
CTKB	D	-0.0%
TMCI	D	-0.0%
BEAM	D	-0.0%
QFIN	C	-0.0%
RENB	D	-0.0%
CNDT	C	-0.0%
PDFS	C	-0.0%
SGRY	D	-0.0%
ELVN	B	-0.0%
LPRO	F	-0.0%
APPN	D	-0.0%
ETNB	D	-0.0%
SANA	F	-0.0%
ZUO	D	-0.0%
DH	F	-0.0%
SOUN	D	-0.0%
PACB	F	-0.0%
NCNO	C	-0.0%
SWBI	D	-0.0%
BVN	C	-0.0%
MDXG	D	-0.0%
CECO	B	-0.0%
VNET	C	-0.0%
OSPN	C	-0.0%
LAND	C	-0.0%
GRPN	C	-0.0%
IRTC	D	-0.0%
XPOF	C	-0.0%
HURN	C	-0.0%
YOU	C	-0.0%
LMND	C	-0.0%
ALTG	F	-0.0%
RVNC	D	-0.0%
BROS	C	-0.0%
FUBO	D	-0.0%
ALHC	B	-0.0%
VCYT	D	-0.0%
IDT	D	-0.0%
QTRX	F	-0.0%
TLRY	D	-0.0%
RIG	F	-0.0%
ATEN	D	-0.0%
AMC	D	-0.0%
ULCC	F	-0.0%
CYRX	F	-0.0%
APLS	F	-0.0%
LWLG	D	-0.0%
OSUR	F	-0.0%
ESTA	D	-0.0%
PDFS	C	-0.0%
S	D	-0.0%
SHLS	F	-0.0%
HAYW	D	-0.0%
CXM	F	-0.0%
ENIC	C	-0.0%
LILAK	A	-0.0%
HRI	D	-0.0%
FVRR	F	-0.0%
NOVA	D	-0.0%
ACCD	F	-0.0%
ATRO	B	-0.0%
SIBN	D	-0.0%
RXST	D	-0.0%
AMRK	D	-0.0%
ATEC	D	-0.0%
TASK	B	-0.0%
HL	C	-0.0%
CCB	B	-0.0%
IAS	D	-0.0%
PCVX	B	-0.0%
MQ	D	-0.0%
PUBM	D	-0.0%
GLBE	C	-0.0%
LAZR	D	-0.0%
GH	C	-0.0%
ARDX	F	-0.0%
YY	C	-0.0%
MNTK	D	-0.0%
PRO	F	-0.0%
ATHM	C	-0.0%
TITN	F	-0.0%
LCID	D	-0.0%
IAG	C	-0.0%
HTHT	F	-0.0%
VZIO	B	-0.0%
ARLO	B	-0.0%
NNDM	F	-0.0%
BXC	F	-0.0%
RVMD	B	-0.0%
RKT	C	-0.0%
NEXT	C	-0.0%
YEXT	F	-0.0%
PL	D	-0.0%
XPRO	C	-0.0%
NTRA	B	-0.0%
GRAB	D	-0.0%
CCBG	C	-0.0%
NVCR	D	-0.0%
VRDN	F	-0.0%
DFH	F	-0.0%
DUOL	F	-0.0%
SQSP	B	-0.0%
IIIV	C	-0.0%
FRSH	F	-0.0%
FSLY	F	-0.0%
ACHR	D	-0.0%
CSTL	F	-0.0%
MOMO	C	-0.0%
DHC	C	-0.0%
FC	C	-0.0%
MTW	F	-0.0%
SIGA	C	-0.0%
CFLT	F	-0.0%
AXSM	C	-0.0%
UWMC	C	-0.0%
FCEL	F	-0.0%
METC	D	-0.0%
UEC	C	-0.0%
PTON	F	-0.0%
EVRI	D	-0.0%
PCT	C	-0.0%
EB	F	-0.0%
PHAT	C	-0.0%
FIVN	F	-0.0%
LEU	D	-0.0%
FDMT	D	-0.0%
NUVL	C	-0.0%
WRBY	D	-0.0%
GNK	D	-0.0%
OPEN	F	-0.0%
LSPD	F	-0.0%
BIGC	D	-0.0%
APPF	B	-0.0%
RNG	F	-0.0%
PFSI	A	-0.0%
PAR	B	-0.0%
TXG	F	-0.0%
SNDX	B	-0.0%
VRNS	C	-0.0%
KC	F	-0.0%
DCO	A	-0.0%
SDGR	F	-0.0%
SITE	F	-0.0%
ARCT	F	-0.0%
BYND	F	-0.0%
OSCR	D	-0.0%
TUYA	F	-0.0%
PGC	D	-0.0%
PLUG	D	-0.0%
PTGX	B	-0.0%
PETQ	C	-0.0%
FROG	C	-0.0%
PLPC	F	-0.0%
TRNS	C	-0.0%
ACVA	D	-0.0%
ENFN	F	-0.0%
CASS	D	-0.0%
LYFT	F	-0.0%
NTLA	D	-0.0%
IBUY	C	-0.0%
PRCT	C	-0.0%
ZLAB	F	-0.0%
UPWK	D	-0.0%
DOCN	D	-0.0%
BRZE	F	-0.0%
WEAV	D	-0.0%
ARVN	F	-0.0%
CIG	C	-0.0%
KEP	D	-0.0%
ARRY	F	-0.0%
CRMT	D	-0.0%
GDRX	C	-0.0%
GDYN	D	-0.0%
CHGX	A	-0.0%
HEES	D	-0.0%
RXRX	F	-0.0%
VMEO	F	-0.0%
KYMR	C	-0.0%
RLJ	D	-0.0%
BILI	C	-0.0%
TIGR	C	-0.0%
HCP	B	-0.0%
UPST	D	-0.0%
CTLP	F	-0.0%
INDI	D	-0.0%
SPR	B	-0.0%
FLYW	F	-0.0%
AMPS	D	-0.0%
INSW	D	-0.0%
TDOC	F	-0.0%
LEGH	C	-0.0%
FLNC	F	-0.0%
CYH	D	-0.0%
WIX	C	-0.0%
HUYA	D	-0.0%
EVH	F	-0.0%
NVAX	D	-0.0%
QS	D	-0.0%
AUPH	D	-0.0%
MEG	D	-0.0%
USLM	B	-0.0%
SRRK	F	-0.0%
VPG	D	-0.0%
CHPT	D	-0.0%
RCKT	F	-0.0%
TIGO	B	-0.0%
PIXY	F	-0.0%
SPT	D	-0.0%
PATH	F	-0.0%
ESTC	C	-0.0%
AUR	C	-0.0%
ASAN	F	-0.0%
CIB	C	-0.0%
RDFN	D	-0.0%
DNA	F	-0.0%
JELD	F	-0.0%
RPAY	D	-0.0%
ALKT	B	-0.0%
CDE	A	-0.0%
VKTX	D	-0.0%
CIFR	C	-0.0%
ATKR	F	-0.0%
DMRC	C	-0.0%
BILL	F	-0.0%