VLUE vs. NXTV ETF Comparison

Comparison of iShares MSCI USA Value Factor (VLUE) to Simplify Next Intangible Value Index ETF (NXTV)

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

$111.23

Average Daily Volume

336,579

Number of Holdings ^*

148

* may have additional holdings in another (foreign) market

NXTV

Simplify Next Intangible Value Index ETF

NXTV Description

NXTV targets US companies with low equity valuations relative to their intangible-adjusted book values within their respective sectors. The fund defines intangible capital as productive assets that lack physical presence and are created through investments in brand, knowledge, and organization capital. The index construction starts by calculating an intangible-adjusted book value for each security in an initial universe consisting of the largest 2000 US companies by market-cap. The 200 stocks with the lowest equity valuations relative to their intangible adjusted book values are selected for inclusion. At least five stocks are included from each of the 13 sectors determined by the index provider using a combination of SIC and NAICS codes along with data from publicly available 10-K filings. Holdings are weighted by market capitalization, with individual security weights capped at 5%. The index reconstitutes quarterly.

Grade (RS Rating)

Last Trade

$28.11

Average Daily Volume

708

Number of Holdings ^*

195

* may have additional holdings in another (foreign) market

Performance

Period	VLUE	NXTV
30 Days	0.72%	0.57%
60 Days	3.35%	3.08%
90 Days	7.36%	7.66%
12 Months	23.13%

63 Overlapping Holdings

Symbol	Grade	Weight in VLUE	Weight in NXTV	Overlap
ACI	C	0.12%	0.49%	0.12%
ADM	D	0.62%	0.42%	0.42%
AIG	A	0.49%	0.71%	0.49%
ALLY	C	0.1%	0.2%	0.1%
BBY	D	0.36%	1.02%	0.36%
BEN	C	0.06%	0.16%	0.06%
BG	D	0.19%	0.2%	0.19%
BIO	D	0.06%	0.24%	0.06%
BLDR	D	0.36%	0.27%	0.27%
C	A	1.75%	1.86%	1.75%
CFG	A	0.25%	0.29%	0.25%
CNC	F	0.58%	0.57%	0.57%
CNH	C	0.17%	0.2%	0.17%
COF	B	0.65%	0.87%	0.65%
CTRA	A	0.33%	0.44%	0.33%
CVS	D	1.51%	1.18%	1.18%
D	C	0.46%	0.48%	0.46%
DELL	B	0.85%	3.21%	0.85%
DINO	D	0.16%	0.21%	0.16%
EG	D	0.16%	0.25%	0.16%
EQH	B	0.12%	0.2%	0.12%
EQT	A	0.27%	0.38%	0.27%
EVRG	A	0.26%	0.14%	0.14%
EXPE	A	0.47%	0.33%	0.33%
F	C	1.65%	0.73%	0.73%
FCNCA	A	0.11%	0.67%	0.11%
FDX	A	1.13%	1.13%	1.13%
FNF	C	0.09%	0.25%	0.09%
FOXA	B	0.32%	0.82%	0.32%
GM	B	3.46%	0.9%	0.9%
HPE	B	1.44%	1.09%	1.09%
HPQ	A	1.17%	1.46%	1.17%
INTC	C	3.87%	3.77%	3.77%
IP	A	0.18%	0.41%	0.18%
JNPR	D	0.35%	0.53%	0.35%
KHC	F	0.77%	0.64%	0.64%
KR	B	0.77%	1.78%	0.77%
L	A	0.12%	0.27%	0.12%
LEN	D	1.5%	0.65%	0.65%
LKQ	F	0.23%	0.18%	0.18%
LUV	A	0.12%	0.32%	0.12%
MET	A	0.44%	0.86%	0.44%
MRO	A	0.43%	0.37%	0.37%
NTAP	D	0.54%	1.04%	0.54%
NUE	D	0.48%	0.7%	0.48%
OVV	C	0.32%	0.26%	0.26%
PCG	A	0.6%	0.44%	0.44%
PFE	F	2.2%	4.65%	2.2%
PPL	A	0.31%	0.24%	0.24%
PRU	A	0.43%	0.65%	0.43%
SNA	A	0.23%	0.19%	0.19%
SOLV	C	0.15%	0.33%	0.15%
SWK	F	0.11%	0.33%	0.11%
SYF	B	0.23%	0.3%	0.23%
T	A	5.87%	4.84%	4.84%
TAP	B	0.36%	0.18%	0.18%
TSN	A	0.4%	0.32%	0.32%
TWLO	A	0.32%	0.43%	0.32%
TXT	D	0.25%	0.28%	0.25%
VTRS	A	0.45%	0.41%	0.41%
VZ	C	2.79%	4.9%	2.79%
WBD	B	0.69%	0.13%	0.13%
ZM	B	0.47%	0.88%	0.47%

VLUE Overweight 85 Positions Relative to NXTV

Symbol	Grade	Weight
CSCO	B	6.4%
IBM	D	3.97%
AMAT	F	2.66%
BAC	A	2.14%
RTX	D	1.82%
WFC	A	1.78%
BMY	B	1.47%
DHI	F	1.44%
GS	A	1.4%
GILD	B	1.39%
MO	A	1.38%
CI	D	1.34%
SPG	A	1.23%
NXPI	F	1.19%
CTSH	B	1.13%
GLW	B	1.13%
TEL	C	1.05%
ELV	F	1.01%
PHM	D	0.95%
URI	B	0.8%
PCAR	B	0.76%
VLO	C	0.75%
ON	F	0.72%
JCI	A	0.6%
FANG	C	0.6%
CMI	A	0.58%
WY	D	0.56%
LHX	B	0.55%
TFC	A	0.52%
SWKS	F	0.48%
USB	A	0.47%
BK	A	0.46%
VST	A	0.44%
GEN	B	0.41%
FSLR	D	0.38%
FFIV	B	0.37%
OC	A	0.35%
WAB	B	0.33%
JBL	C	0.32%
MTB	A	0.3%
STLD	B	0.29%
PARA	D	0.27%
STT	A	0.26%
CAG	F	0.25%
SSNC	C	0.25%
LH	B	0.25%
UTHR	C	0.25%
HST	D	0.24%
DOW	F	0.24%
LDOS	C	0.23%
WBA	F	0.23%
SJM	D	0.23%
DAL	A	0.23%
ES	C	0.22%
HIG	A	0.22%
LYB	F	0.22%
ATO	A	0.22%
AZPN	A	0.22%
EXE	A	0.2%
RF	A	0.2%
GPN	B	0.2%
FITB	A	0.2%
KNX	B	0.2%
MAA	A	0.19%
DGX	A	0.19%
QRVO	F	0.19%
RPRX	F	0.19%
MOS	D	0.18%
UHS	D	0.18%
HBAN	A	0.17%
FOX	A	0.17%
APA	F	0.15%
CF	A	0.15%
APTV	F	0.14%
AKAM	F	0.14%
CPT	D	0.13%
KEY	A	0.13%
SW	A	0.13%
FBIN	F	0.12%
UHAL	D	0.12%
NLY	C	0.11%
HII	F	0.1%
EMN	C	0.1%
DVA	C	0.08%
WLK	F	0.05%

VLUE Underweight 132 Positions Relative to NXTV

Symbol	Grade	Weight
CMCSA	B	-5.15%
EBAY	D	-1.22%
EL	F	-1.05%
GFS	C	-0.98%
WDC	F	-0.94%
VICI	C	-0.87%
BIIB	F	-0.85%
DG	F	-0.79%
TRV	A	-0.78%
ALL	A	-0.74%
DD	D	-0.73%
MRNA	F	-0.69%
NWS	B	-0.68%
HUM	D	-0.66%
SNAP	D	-0.65%
DLTR	F	-0.65%
ZBH	C	-0.63%
CTVA	D	-0.59%
SYY	B	-0.58%
BAX	F	-0.56%
SRE	A	-0.53%
ILMN	C	-0.52%
CACI	C	-0.47%
TPR	A	-0.46%
SNX	C	-0.43%
LBRDK	C	-0.43%
ALB	C	-0.42%
PPG	D	-0.4%
EXC	C	-0.39%
GAP	C	-0.39%
RS	B	-0.38%
CCL	A	-0.37%
LEVI	F	-0.37%
FYBR	C	-0.36%
INCY	B	-0.36%
ED	D	-0.36%
CIEN	B	-0.34%
MKL	A	-0.34%
DBX	C	-0.33%
WRB	A	-0.33%
GPC	D	-0.33%
FLEX	B	-0.33%
AMKR	F	-0.31%
PATH	D	-0.31%
CINF	A	-0.31%
U	F	-0.3%
FTI	A	-0.29%
PFG	A	-0.29%
ARE	F	-0.29%
DDS	B	-0.28%
NSIT	F	-0.28%
UAL	A	-0.28%
ETR	A	-0.27%
W	D	-0.27%
HSIC	C	-0.27%
BILL	A	-0.26%
LUMN	C	-0.26%
CRBG	B	-0.26%
PEGA	B	-0.26%
ROKU	C	-0.24%
SATS	D	-0.23%
ELAN	D	-0.23%
COTY	F	-0.23%
CPB	D	-0.22%
RNR	D	-0.22%
RGA	A	-0.22%
KD	A	-0.22%
AR	B	-0.21%
CPRI	F	-0.21%
AIT	A	-0.21%
CLVT	F	-0.21%
KMX	B	-0.21%
VFC	C	-0.21%
JLL	C	-0.2%
M	D	-0.2%
PAG	B	-0.2%
JAZZ	B	-0.2%
CNA	C	-0.2%
RIVN	F	-0.2%
PFGC	B	-0.2%
EXEL	B	-0.2%
IAC	F	-0.19%
JEF	A	-0.19%
AEO	F	-0.19%
USM	B	-0.19%
TOL	B	-0.19%
COKE	D	-0.19%
RPM	A	-0.19%
WCC	B	-0.19%
ARW	D	-0.18%
SWN	C	-0.18%
BWA	B	-0.17%
JWN	C	-0.17%
FLS	A	-0.17%
AA	A	-0.17%
RHI	C	-0.17%
ADTN	A	-0.17%
SIG	C	-0.17%
ASO	F	-0.17%
XRAY	F	-0.16%
AIZ	A	-0.16%
PVH	C	-0.16%
NOV	D	-0.16%
URBN	C	-0.16%
WHR	A	-0.16%
ALIT	C	-0.16%
UNM	A	-0.16%
GL	B	-0.15%
SANM	B	-0.15%
ZI	D	-0.15%
FRSH	C	-0.15%
SLAB	F	-0.15%
NI	A	-0.15%
WFRD	F	-0.15%
DXC	D	-0.15%
LCID	F	-0.14%
LAD	A	-0.14%
ORI	A	-0.14%
AGR	A	-0.14%
CLF	F	-0.14%
UPST	B	-0.14%
FHN	A	-0.13%
MUR	D	-0.13%
CIVI	C	-0.13%
INGR	B	-0.13%
CXT	D	-0.13%
X	C	-0.13%
ALKS	C	-0.13%
SON	D	-0.13%
MGM	D	-0.08%
DLB	D	-0.05%
BYD	B	-0.04%