VLUE vs. FLQL ETF Comparison

Comparison of iShares MSCI USA Value Factor (VLUE) to Franklin LibertyQ U.S. Equity ETF (FLQL)

VLUE

iShares MSCI USA Value Factor

VLUE Description

The investment seeks to track the performance of MSCI USA Value Weighted Index that measures the performance of U.S. large- and mid-capitalization stocks with value characteristics and relatively lower valuations, before fees and expenses. The fund generally invests at least 90% of its assets in the securities of the underlying index or in depositary receipts representing securities in its underlying index. The MSCI USA Value Weighted Index (the "underlying index") is based on a traditional market capitalization-weighted parent index, the MSCI USA Index, which includes U.S. large- and mid- capitalization stocks.

Grade (RS Rating)

Last Trade

$114.13

Average Daily Volume

324,164

Number of Holdings ^*

148

* may have additional holdings in another (foreign) market

FLQL

Franklin LibertyQ U.S. Equity ETF

FLQL Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the LibertyQ U.S. Large Cap Equity Index (the U.S. Large Cap underlying index). Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the U.S. Large Cap underlying index. The U.S. Large Cap underlying index is based on the Russell 1000® Index using a methodology developed with Franklin Templeton to reflect Franklin Templeton's desired investment strategy.

Grade (RS Rating)

Last Trade

$59.85

Average Daily Volume

76,630

Number of Holdings ^*

210

* may have additional holdings in another (foreign) market

Performance

Period	VLUE	FLQL
30 Days	4.45%	2.44%
60 Days	5.68%	3.55%
90 Days	7.63%	4.50%
12 Months	25.66%	31.26%

49 Overlapping Holdings

Symbol	Grade	Weight in VLUE	Weight in FLQL	Overlap
AMAT	F	2.37%	0.96%	0.96%
APA	D	0.15%	0.08%	0.08%
BBY	D	0.38%	0.11%	0.11%
C	A	1.78%	0.97%	0.97%
CF	B	0.16%	0.11%	0.11%
CFG	B	0.26%	0.13%	0.13%
CI	F	1.37%	0.56%	0.56%
CMI	A	0.6%	0.26%	0.26%
CTSH	B	1.1%	0.24%	0.24%
DAL	C	0.25%	0.2%	0.2%
DELL	C	0.84%	0.19%	0.19%
DGX	A	0.19%	0.1%	0.1%
DHI	D	1.4%	0.36%	0.36%
DVA	B	0.08%	0.1%	0.08%
ELV	F	0.97%	0.28%	0.28%
EMN	D	0.1%	0.1%	0.1%
FANG	D	0.6%	0.2%	0.2%
FOX	A	0.18%	0.11%	0.11%
FOXA	B	0.33%	0.11%	0.11%
GLW	B	1.1%	0.19%	0.19%
GM	B	3.6%	0.35%	0.35%
GS	A	1.43%	0.6%	0.6%
HIG	B	0.22%	0.19%	0.19%
HPE	B	1.4%	0.21%	0.21%
HPQ	B	1.19%	0.29%	0.29%
IBM	C	3.86%	1.31%	1.31%
IP	B	0.19%	0.13%	0.13%
JNPR	F	0.33%	0.09%	0.09%
LDOS	C	0.19%	0.17%	0.17%
LEN	D	1.49%	0.3%	0.3%
LEN	D	1.49%	0.09%	0.09%
LYB	F	0.22%	0.16%	0.16%
MO	A	1.45%	0.85%	0.85%
NTAP	C	0.52%	0.21%	0.21%
OC	A	0.36%	0.13%	0.13%
PCAR	B	0.76%	0.44%	0.44%
PHM	D	0.94%	0.22%	0.22%
RTX	C	1.77%	0.5%	0.5%
SPG	B	1.26%	0.46%	0.46%
SSNC	B	0.25%	0.09%	0.09%
STLD	B	0.27%	0.16%	0.16%
SWKS	F	0.46%	0.09%	0.09%
SYF	B	0.24%	0.21%	0.21%
T	A	6.04%	1.07%	1.07%
UHS	D	0.18%	0.1%	0.1%
URI	B	0.77%	0.38%	0.38%
UTHR	C	0.23%	0.12%	0.12%
VZ	C	2.91%	1.24%	1.24%
WAB	B	0.32%	0.17%	0.17%

VLUE Overweight 100 Positions Relative to FLQL

Symbol	Grade	Weight
CSCO	B	6.43%
INTC	D	3.65%
BAC	A	2.25%
PFE	D	2.07%
WFC	A	1.92%
F	C	1.68%
BMY	B	1.55%
CVS	D	1.46%
GILD	C	1.29%
FDX	B	1.18%
NXPI	D	1.12%
TEL	B	1.02%
VLO	C	0.78%
KR	B	0.75%
KHC	F	0.74%
WBD	C	0.7%
ON	D	0.67%
COF	B	0.66%
ADM	D	0.65%
PCG	A	0.63%
JCI	C	0.61%
CNC	D	0.57%
WY	D	0.55%
TFC	A	0.54%
LHX	C	0.53%
AIG	B	0.5%
EXPE	B	0.48%
USB	A	0.48%
D	C	0.47%
ZM	B	0.47%
BK	A	0.47%
MET	A	0.46%
VST	B	0.45%
VTRS	A	0.45%
PRU	A	0.45%
NUE	C	0.45%
MRO	B	0.44%
TSN	B	0.44%
GEN	B	0.42%
FSLR	F	0.38%
TAP	C	0.38%
FFIV	B	0.37%
BLDR	D	0.36%
CTRA	B	0.35%
TWLO	A	0.34%
OVV	B	0.33%
PPL	B	0.32%
JBL	B	0.31%
MTB	A	0.31%
EQT	B	0.28%
PARA	C	0.27%
EVRG	A	0.27%
STT	A	0.26%
LKQ	D	0.24%
LH	C	0.24%
TXT	D	0.24%
ATO	A	0.23%
AZPN	A	0.23%
SNA	A	0.23%
DOW	F	0.23%
CAG	D	0.23%
HST	C	0.23%
WBA	F	0.22%
SJM	D	0.22%
ES	D	0.22%
FITB	A	0.21%
GPN	B	0.21%
BG	F	0.2%
EXE	B	0.2%
RF	A	0.2%
MAA	B	0.19%
RPRX	D	0.19%
KNX	B	0.19%
QRVO	F	0.18%
EG	C	0.17%
MOS	F	0.17%
CNH	C	0.17%
HBAN	A	0.17%
DINO	D	0.16%
AKAM	D	0.14%
SOLV	C	0.14%
L	A	0.13%
APTV	D	0.13%
CPT	B	0.13%
SW	A	0.13%
KEY	B	0.13%
FCNCA	A	0.12%
EQH	B	0.12%
ACI	C	0.12%
LUV	C	0.12%
UHAL	D	0.11%
FBIN	D	0.11%
NLY	C	0.11%
ALLY	C	0.1%
SWK	D	0.1%
FNF	B	0.09%
HII	D	0.09%
BEN	C	0.06%
WLK	D	0.05%
BIO	D	0.05%

VLUE Underweight 161 Positions Relative to FLQL

Symbol	Grade	Weight
AAPL	C	-7.0%
NVDA	C	-6.71%
MSFT	F	-5.96%
AMZN	C	-2.92%
META	D	-2.48%
GOOGL	C	-2.04%
MA	C	-1.79%
AVGO	D	-1.77%
GOOG	C	-1.73%
COST	B	-1.7%
WMT	A	-1.68%
JNJ	D	-1.55%
ABBV	D	-1.33%
LLY	F	-1.31%
ISRG	A	-1.3%
CAT	B	-1.27%
TXN	C	-1.24%
JPM	A	-1.23%
QCOM	F	-1.22%
MRK	F	-1.21%
BKNG	A	-1.19%
TSLA	B	-1.13%
BRK.A	B	-1.11%
AMGN	D	-1.05%
TJX	A	-0.95%
SYK	C	-0.94%
VRTX	F	-0.92%
ORCL	B	-0.88%
BSX	B	-0.84%
ANET	C	-0.77%
PM	B	-0.71%
WM	A	-0.67%
KLAC	D	-0.67%
LRCX	F	-0.66%
TT	A	-0.65%
XOM	B	-0.63%
APH	A	-0.6%
TMUS	B	-0.59%
REGN	F	-0.59%
MSI	B	-0.58%
CMG	B	-0.57%
CB	C	-0.56%
MCO	B	-0.56%
PH	A	-0.52%
UNH	C	-0.52%
CL	D	-0.52%
HCA	F	-0.49%
CTAS	B	-0.46%
APP	B	-0.42%
LMT	D	-0.4%
GD	F	-0.39%
GWW	B	-0.38%
PSA	D	-0.38%
HLT	A	-0.33%
FAST	B	-0.33%
ADI	D	-0.32%
RSG	A	-0.31%
SO	D	-0.29%
ACGL	D	-0.26%
HWM	A	-0.25%
GRMN	B	-0.25%
MCHP	D	-0.23%
AFL	B	-0.23%
SPOT	B	-0.22%
PEG	A	-0.22%
DECK	A	-0.22%
NVR	D	-0.19%
IRM	D	-0.18%
FICO	B	-0.17%
EBAY	D	-0.17%
RCL	A	-0.17%
TPL	A	-0.16%
ETR	B	-0.16%
PKG	A	-0.15%
LII	A	-0.15%
CSL	C	-0.15%
TSCO	D	-0.15%
O	D	-0.15%
WSM	B	-0.15%
KMB	D	-0.14%
WSO	A	-0.13%
TOL	B	-0.13%
RMD	C	-0.13%
TNL	A	-0.12%
NRG	B	-0.12%
EME	C	-0.12%
AWI	A	-0.12%
RL	B	-0.12%
JEF	A	-0.12%
MAS	D	-0.12%
AYI	B	-0.12%
EVR	B	-0.12%
FIX	A	-0.12%
ALSN	B	-0.12%
DTM	B	-0.12%
AXS	A	-0.11%
LNC	B	-0.11%
BJ	A	-0.11%
MUSA	A	-0.11%
EXR	D	-0.11%
PPC	C	-0.11%
CW	B	-0.11%
DPZ	C	-0.11%
R	B	-0.11%
LOPE	B	-0.11%
CASY	A	-0.11%
RGA	A	-0.11%
G	B	-0.11%
ESS	B	-0.11%
TXRH	C	-0.11%
JHG	A	-0.11%
THC	D	-0.11%
UGI	A	-0.1%
OHI	C	-0.1%
ROL	B	-0.1%
SCCO	F	-0.1%
K	A	-0.1%
CLH	B	-0.1%
LAMR	D	-0.1%
AVB	B	-0.1%
NFG	A	-0.1%
ADC	B	-0.1%
DKS	C	-0.1%
VICI	C	-0.1%
KRC	C	-0.1%
INGR	B	-0.1%
KEX	C	-0.1%
RGLD	C	-0.1%
EHC	B	-0.1%
CHRW	C	-0.1%
CUZ	B	-0.1%
AMCR	D	-0.09%
WU	D	-0.09%
NNN	D	-0.09%
MPWR	F	-0.09%
EPR	D	-0.09%
PK	B	-0.09%
SNX	C	-0.09%
CACI	D	-0.09%
NEU	C	-0.09%
GAP	C	-0.09%
GPK	C	-0.09%
CHE	D	-0.09%
HRB	D	-0.09%
GLPI	C	-0.09%
AVT	C	-0.09%
OMC	C	-0.09%
MTG	C	-0.09%
M	D	-0.09%
HIW	D	-0.09%
CRI	D	-0.08%
WING	D	-0.08%
COKE	C	-0.08%
CIVI	D	-0.08%
MEDP	D	-0.08%
DVN	F	-0.08%
TER	D	-0.08%
CROX	D	-0.07%
OGN	D	-0.07%
CRUS	D	-0.07%
MDU	D	-0.07%