VONV vs. MFUS ETF Comparison

Comparison of Vanguard Russell 1000 Value ETF (VONV) to PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS)

VONV

Vanguard Russell 1000 Value ETF

VONV Description

The investment seeks to track the performance of a benchmark index that measures the investment return of large-capitalization value stocks in the United States. The fund employs an indexing investment approach designed to track the performance of the Russell 1000® Value Index. The index is designed to measure the performance of large-capitalization value stocks in the United States. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Grade (RS Rating)

Last Trade

$82.29

Average Daily Volume

323,013

Number of Holdings ^*

838

* may have additional holdings in another (foreign) market

MFUS

PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF

MFUS Description

The investment seeks to track the investment results of the RAFI Dynamic Multi-Factor U.S. Index. The fund seeks to achieve its investment objective by investing at least 80% of its total assets (exclusive of collateral held from securities lending) in the component securities of the RAFI Dynamic Multi-Factor U.S. Index. The underlying index is constructed by RAFI Indices, LLC (the index provider) using a rules-based approach to construct factor portfolios within the underlying index. The underlying index consists of factor portfolios, each of which emphasizes one of the following factors: value, low volatility, quality, momentum and size.

Grade (RS Rating)

Last Trade

$49.61

Average Daily Volume

7,444

Number of Holdings ^*

780

* may have additional holdings in another (foreign) market

Performance

Period	VONV	MFUS
30 Days	2.85%	2.33%
60 Days	3.60%	2.78%
90 Days	7.59%	4.19%
12 Months	21.11%	26.86%

537 Overlapping Holdings

	Symbol	Grade	Weight in VONV	Weight in MFUS	Overlap
	A	C	0.17%	0.05%	0.05%
	AA	D	0.03%	0.02%	0.02%
	AAP	F	0.02%	0.01%	0.01%
	ABBV	B	0.76%	1.34%	0.76%
	ACI	D	0.03%	0.01%	0.01%
	ACM	B	0.05%	0.04%	0.04%
	ACN	C	0.85%	0.19%	0.19%
	ADM	D	0.13%	0.32%	0.13%
	ADP	A	0.03%	0.09%	0.03%
	AES	C	0.05%	0.03%	0.03%
	AFG	B	0.04%	0.01%	0.01%
	AFL	B	0.22%	0.19%	0.19%
	AGCO	D	0.02%	0.02%	0.02%
	AGNC	A	0.03%	0.04%	0.03%
	AIG	D	0.22%	0.42%	0.22%
	AIZ	C	0.04%	0.07%	0.04%
	AJG	A	0.23%	0.09%	0.09%
	AKAM	D	0.06%	0.03%	0.03%
	ALGN	D	0.03%	0.02%	0.02%
	ALL	A	0.16%	0.36%	0.16%
	ALLY	F	0.04%	0.1%	0.04%
	ALSN	B	0.03%	0.08%	0.03%
	AMAT	D	0.06%	0.44%	0.06%
	AMED	D	0.01%	0.01%	0.01%
	AMG	C	0.02%	0.05%	0.02%
	AMGN	B	0.16%	1.03%	0.16%
	AMH	B	0.05%	0.04%	0.04%
	AMKR	D	0.02%	0.03%	0.02%
	AMP	B	0.02%	0.08%	0.02%
	AN	D	0.02%	0.08%	0.02%
	ANSS	D	0.11%	0.05%	0.05%
	AON	B	0.26%	0.19%	0.19%
	AOS	D	0.04%	0.11%	0.04%
	APG	D	0.04%	0.03%	0.03%
	APH	D	0.13%	0.1%	0.1%
	APO	C	0.07%	0.1%	0.07%
	AR	D	0.03%	0.04%	0.03%
	ARW	C	0.03%	0.07%	0.03%
	ATI	D	0.03%	0.05%	0.03%
	ATR	A	0.04%	0.07%	0.04%
	AVT	D	0.02%	0.04%	0.02%
	AVTR	B	0.07%	0.03%	0.03%
	AVY	B	0.04%	0.1%	0.04%
	AWI	C	0.02%	0.03%	0.02%
	AXP	B	0.37%	0.19%	0.19%
	AXTA	C	0.03%	0.02%	0.02%
	AYI	B	0.03%	0.07%	0.03%
	AZO	C	0.02%	0.3%	0.02%
	BAC	D	1.12%	0.39%	0.39%
	BALL	C	0.08%	0.07%	0.07%
	BAX	C	0.07%	0.04%	0.04%
	BBWI	F	0.03%	0.02%	0.02%
	BBY	B	0.08%	0.24%	0.08%
	BC	D	0.02%	0.06%	0.02%
	BDX	D	0.29%	0.09%	0.09%
	BEN	D	0.03%	0.04%	0.03%
	BERY	B	0.03%	0.06%	0.03%
	BFAM	B	0.02%	0.03%	0.02%
	BHF	F	0.01%	0.03%	0.01%
	BIIB	F	0.13%	0.08%	0.08%
	BJ	D	0.05%	0.03%	0.03%
	BK	A	0.2%	0.27%	0.2%
	BKNG	B	0.03%	0.47%	0.03%
	BKR	D	0.16%	0.16%	0.16%
	BLD	D	0.06%	0.03%	0.03%
	BLDR	C	0.07%	0.04%	0.04%
	BMRN	F	0.07%	0.02%	0.02%
	BMY	C	0.4%	0.28%	0.28%
	BR	B	0.01%	0.16%	0.01%
	BRK.A	C	3.29%	2.01%	2.01%
	BRKR	D	0.01%	0.03%	0.01%
	BRO	B	0.05%	0.13%	0.05%
	BSX	B	0.44%	0.19%	0.19%
	BWA	F	0.03%	0.05%	0.03%
	BWXT	D	0.03%	0.08%	0.03%
	BXP	A	0.05%	0.02%	0.02%
	C	D	0.51%	1.22%	0.51%
	CACC	F	0.0%	0.01%	0.0%
	CACC	F	0.01%	0.01%	0.01%
	CACI	B	0.04%	0.09%	0.04%
	CAG	B	0.06%	0.05%	0.05%
	CAH	B	0.04%	0.35%	0.04%
	CARR	A	0.19%	0.12%	0.12%
	CASY	C	0.05%	0.15%	0.05%
	CAT	C	0.6%	0.41%	0.41%
	CB	B	0.46%	0.16%	0.16%
	CBSH	B	0.03%	0.01%	0.01%
	CC	F	0.01%	0.02%	0.01%
	CCK	A	0.04%	0.07%	0.04%
	CCL	C	0.07%	0.05%	0.05%
	CDW	D	0.06%	0.05%	0.05%
	CE	D	0.05%	0.07%	0.05%
	CEG	C	0.21%	0.09%	0.09%
	CFG	C	0.08%	0.06%	0.06%
	CG	D	0.04%	0.02%	0.02%
	CHD	B	0.1%	0.07%	0.07%
	CHE	C	0.03%	0.06%	0.03%
	CHRD	F	0.04%	0.02%	0.02%
	CHRW	C	0.04%	0.09%	0.04%
	CHTR	D	0.15%	0.24%	0.15%
	CI	B	0.36%	0.14%	0.14%
	CINF	B	0.08%	0.02%	0.02%
	CL	C	0.15%	0.33%	0.15%
	CLH	B	0.05%	0.04%	0.04%
	CMA	B	0.03%	0.04%	0.03%
	CMCSA	D	0.66%	0.24%	0.24%
	CME	B	0.29%	0.2%	0.2%
	CMI	C	0.16%	0.11%	0.11%
	CNM	F	0.01%	0.01%	0.01%
	COF	D	0.23%	0.42%	0.23%
	COHR	C	0.04%	0.02%	0.02%
	COIN	F	0.03%	0.06%	0.03%
	COKE	C	0.03%	0.03%	0.03%
	COLD	D	0.03%	0.04%	0.03%
	COP	F	0.53%	0.3%	0.3%
	CPB	B	0.04%	0.01%	0.01%
	CPRI	D	0.02%	0.01%	0.01%
	CPRT	F	0.01%	0.19%	0.01%
	CPT	B	0.05%	0.06%	0.05%
	CR	C	0.03%	0.01%	0.01%
	CRBG	D	0.03%	0.04%	0.03%
	CRI	C	0.01%	0.06%	0.01%
	CRM	D	0.15%	0.35%	0.15%
	CRUS	D	0.03%	0.05%	0.03%
	CSCO	C	0.81%	0.42%	0.42%
	CSL	C	0.07%	0.01%	0.01%
	CSX	D	0.28%	0.08%	0.08%
	CTAS	B	0.01%	0.18%	0.01%
	CTLT	B	0.04%	0.02%	0.02%
	CTRA	F	0.08%	0.02%	0.02%
	CTVA	B	0.16%	0.03%	0.03%
	CUBE	A	0.04%	0.04%	0.04%
	CVS	D	0.31%	0.8%	0.31%
	CVX	D	1.13%	0.79%	0.79%
	CW	B	0.05%	0.08%	0.05%
	CWEN	A	0.01%	0.01%	0.01%
	DASH	C	0.02%	0.09%	0.02%
	DCI	D	0.04%	0.04%	0.04%
	DD	B	0.14%	0.21%	0.14%
	DDS	D	0.01%	0.03%	0.01%
	DELL	D	0.1%	0.05%	0.05%
	DFS	C	0.15%	0.08%	0.08%
	DG	F	0.11%	0.05%	0.05%
	DGX	B	0.06%	0.06%	0.06%
	DHR	B	0.75%	0.27%	0.27%
	DINO	F	0.03%	0.03%	0.03%
	DKS	D	0.05%	0.09%	0.05%
	DLB	D	0.02%	0.03%	0.02%
	DLR	A	0.2%	0.08%	0.08%
	DLTR	F	0.09%	0.02%	0.02%
	DOV	B	0.1%	0.02%	0.02%
	DOW	F	0.16%	0.04%	0.04%
	DOX	C	0.04%	0.03%	0.03%
	DPZ	D	0.04%	0.18%	0.04%
	DRI	C	0.03%	0.03%	0.03%
	DTM	B	0.03%	0.01%	0.01%
	DUK	B	0.35%	0.13%	0.13%
	DXC	C	0.02%	0.02%	0.02%
	EA	C	0.17%	0.09%	0.09%
	EBAY	A	0.12%	0.34%	0.12%
	ECL	A	0.03%	0.08%	0.03%
	EFX	B	0.11%	0.09%	0.09%
	EHC	B	0.04%	0.08%	0.04%
	ELAN	D	0.03%	0.01%	0.01%
	ELS	B	0.05%	0.04%	0.04%
	ELV	B	0.43%	0.08%	0.08%
	EME	A	0.04%	0.03%	0.03%
	EMN	A	0.05%	0.06%	0.05%
	EMR	D	0.27%	0.15%	0.15%
	EOG	D	0.3%	0.11%	0.11%
	EQIX	B	0.29%	0.03%	0.03%
	ESAB	C	0.02%	0.01%	0.01%
	ESI	D	0.02%	0.01%	0.01%
	ETN	C	0.5%	0.18%	0.18%
	EVR	B	0.04%	0.12%	0.04%
	EVRG	A	0.05%	0.01%	0.01%
	EWBC	D	0.05%	0.02%	0.02%
	EXC	A	0.15%	0.12%	0.12%
	EXEL	A	0.0%	0.02%	0.0%
	EXP	A	0.01%	0.05%	0.01%
	EXPD	D	0.06%	0.07%	0.06%
	EXR	A	0.14%	0.07%	0.07%
	F	D	0.17%	0.33%	0.17%
	FAF	A	0.02%	0.02%	0.02%
	FANG	F	0.15%	0.04%	0.04%
	FAST	C	0.03%	0.1%	0.03%
	FCN	C	0.03%	0.07%	0.03%
	FCNCA	D	0.1%	0.05%	0.05%
	FCX	D	0.27%	0.09%	0.09%
	FDS	C	0.04%	0.05%	0.04%
	FFIV	A	0.05%	0.04%	0.04%
	FHN	C	0.04%	0.01%	0.01%
	FICO	A	0.02%	0.22%	0.02%
	FIS	A	0.18%	0.08%	0.08%
	FITB	B	0.12%	0.05%	0.05%
	FLO	C	0.02%	0.04%	0.02%
	FLS	D	0.03%	0.02%	0.02%
	FND	C	0.03%	0.03%	0.03%
	FNF	B	0.06%	0.03%	0.03%
	FOXA	C	0.04%	0.08%	0.04%
	FR	B	0.03%	0.03%	0.03%
	FTI	D	0.05%	0.1%	0.05%
	FTNT	B	0.03%	0.06%	0.03%
	FYBR	C	0.03%	0.01%	0.01%
	G	B	0.02%	0.05%	0.02%
	GAP	F	0.02%	0.07%	0.02%
	GD	B	0.33%	0.17%	0.17%
	GE	A	0.6%	1.09%	0.6%
	GEHC	C	0.13%	0.02%	0.02%
	GGG	C	0.06%	0.04%	0.04%
	GILD	B	0.39%	0.78%	0.39%
	GIS	B	0.16%	0.11%	0.11%
	GLPI	B	0.05%	0.07%	0.05%
	GLW	C	0.13%	0.2%	0.13%
	GM	C	0.21%	0.56%	0.21%
	GMED	D	0.03%	0.02%	0.02%
	GNRC	D	0.02%	0.04%	0.02%
	GNTX	F	0.03%	0.06%	0.03%
	GPC	D	0.08%	0.02%	0.02%
	GPK	A	0.04%	0.1%	0.04%
	GS	D	0.48%	0.45%	0.45%
	GWRE	A	0.03%	0.02%	0.02%
	GWW	B	0.02%	0.17%	0.02%
	H	D	0.02%	0.01%	0.01%
	HAL	F	0.13%	0.04%	0.04%
	HBAN	B	0.09%	0.03%	0.03%
	HCA	A	0.22%	0.13%	0.13%
	HD	B	0.3%	0.39%	0.3%
	HIG	B	0.13%	0.06%	0.06%
	HII	D	0.05%	0.02%	0.02%
	HLI	A	0.03%	0.08%	0.03%
	HLT	B	0.11%	0.08%	0.08%
	HOG	C	0.02%	0.02%	0.02%
	HOLX	B	0.08%	0.03%	0.03%
	HOOD	C	0.06%	0.03%	0.03%
	HPE	F	0.11%	0.2%	0.11%
	HPQ	D	0.11%	0.27%	0.11%
	HRB	C	0.03%	0.09%	0.03%
	HRL	C	0.04%	0.01%	0.01%
	HSIC	D	0.04%	0.03%	0.03%
	HST	D	0.05%	0.02%	0.02%
	HSY	B	0.1%	0.06%	0.06%
	HUBB	B	0.09%	0.08%	0.08%
	HUN	D	0.02%	0.01%	0.01%
	HWM	B	0.15%	0.12%	0.12%
	HXL	F	0.02%	0.04%	0.02%
	IBKR	B	0.05%	0.05%	0.05%
	IBM	A	0.72%	1.32%	0.72%
	ICE	B	0.35%	0.29%	0.29%
	IEX	D	0.06%	0.08%	0.06%
	IFF	B	0.1%	0.03%	0.03%
	INCY	C	0.05%	0.01%	0.01%
	INGR	B	0.03%	0.06%	0.03%
	INTC	F	0.54%	0.36%	0.36%
	INVH	B	0.09%	0.06%	0.06%
	IP	B	0.07%	0.12%	0.07%
	IPG	C	0.05%	0.07%	0.05%
	IR	D	0.17%	0.09%	0.09%
	IRM	A	0.05%	0.11%	0.05%
	ITT	C	0.05%	0.08%	0.05%
	ITW	B	0.19%	0.08%	0.08%
	IVZ	C	0.03%	0.05%	0.03%
	JAZZ	D	0.03%	0.01%	0.01%
	JBHT	D	0.06%	0.02%	0.02%
	JBL	D	0.05%	0.07%	0.05%
	JEF	B	0.03%	0.03%	0.03%
	JHG	B	0.02%	0.03%	0.02%
	JKHY	A	0.05%	0.1%	0.05%
	JLL	B	0.03%	0.05%	0.03%
	JNJ	B	1.56%	1.03%	1.03%
	JNPR	B	0.05%	0.13%	0.05%
	JPM	D	2.5%	0.9%	0.9%
	JWN	C	0.01%	0.03%	0.01%
	K	A	0.06%	0.1%	0.06%
	KBR	D	0.03%	0.02%	0.02%
	KD	D	0.03%	0.06%	0.03%
	KDP	B	0.15%	0.06%	0.06%
	KEX	C	0.03%	0.01%	0.01%
	KEY	B	0.06%	0.02%	0.02%
	KHC	C	0.13%	0.16%	0.13%
	KKR	B	0.24%	0.13%	0.13%
	KMB	C	0.11%	0.16%	0.11%
	KMI	B	0.17%	0.08%	0.08%
	KMPR	D	0.02%	0.02%	0.02%
	KNX	C	0.03%	0.01%	0.01%
	KO	B	0.45%	0.6%	0.45%
	KR	B	0.15%	0.34%	0.15%
	KSS	F	0.01%	0.06%	0.01%
	L	C	0.06%	0.08%	0.06%
	LAD	C	0.03%	0.01%	0.01%
	LAMR	A	0.03%	0.05%	0.03%
	LBRDK	D	0.02%	0.02%	0.02%
	LDOS	B	0.08%	0.08%	0.08%
	LEA	F	0.03%	0.03%	0.03%
	LECO	D	0.03%	0.08%	0.03%
	LEG	D	0.01%	0.02%	0.01%
	LEN	B	0.01%	0.08%	0.01%
	LEN	B	0.18%	0.08%	0.08%
	LHX	C	0.18%	0.19%	0.18%
	LMT	B	0.32%	0.52%	0.32%
	LNC	D	0.02%	0.05%	0.02%
	LOPE	D	0.01%	0.05%	0.01%
	LOW	B	0.58%	0.23%	0.23%
	LPX	B	0.01%	0.06%	0.01%
	LSTR	D	0.03%	0.08%	0.03%
	LW	D	0.02%	0.04%	0.02%
	LYB	F	0.11%	0.21%	0.11%
	LYFT	D	0.01%	0.01%	0.01%
	M	D	0.02%	0.04%	0.02%
	MAN	D	0.02%	0.04%	0.02%
	MAR	D	0.22%	0.11%	0.11%
	MAS	B	0.07%	0.06%	0.06%
	MASI	D	0.01%	0.02%	0.01%
	MCD	B	0.73%	0.4%	0.4%
	MCK	F	0.19%	0.51%	0.19%
	MDLZ	B	0.38%	0.22%	0.22%
	MDU	B	0.02%	0.03%	0.02%
	MET	B	0.19%	0.36%	0.19%
	MHK	B	0.04%	0.01%	0.01%
	MKC	B	0.08%	0.08%	0.08%
	MKL	C	0.07%	0.03%	0.03%
	MKSI	F	0.03%	0.01%	0.01%
	MKTX	C	0.03%	0.02%	0.02%
	MLM	D	0.14%	0.06%	0.06%
	MMC	A	0.39%	0.19%	0.19%
	MMM	A	0.24%	0.41%	0.24%
	MNST	C	0.03%	0.06%	0.03%
	MO	C	0.35%	0.52%	0.35%
	MOH	C	0.03%	0.03%	0.03%
	MOS	F	0.04%	0.04%	0.04%
	MPC	F	0.26%	0.64%	0.26%
	MRO	D	0.07%	0.1%	0.07%
	MSA	D	0.03%	0.03%	0.03%
	MSCI	C	0.07%	0.07%	0.07%
	MSI	B	0.14%	0.15%	0.14%
	MSM	D	0.02%	0.06%	0.02%
	MTB	B	0.12%	0.03%	0.03%
	MTD	D	0.13%	0.08%	0.08%
	MTDR	F	0.03%	0.01%	0.01%
	MTG	B	0.03%	0.04%	0.03%
	MTN	D	0.0%	0.05%	0.0%
	MU	F	0.5%	0.15%	0.15%
	NDAQ	B	0.11%	0.02%	0.02%
	NDSN	C	0.06%	0.04%	0.04%
	NEM	B	0.23%	0.09%	0.09%
	NEU	C	0.02%	0.03%	0.02%
	NFG	A	0.02%	0.04%	0.02%
	NKE	D	0.14%	0.04%	0.04%
	NOC	B	0.28%	0.23%	0.23%
	NOV	F	0.03%	0.04%	0.03%
	NRG	C	0.04%	0.07%	0.04%
	NTAP	D	0.06%	0.08%	0.06%
	NTRS	B	0.07%	0.02%	0.02%
	NUE	D	0.16%	0.08%	0.08%
	NVR	B	0.1%	0.07%	0.07%
	NVT	D	0.05%	0.02%	0.02%
	NWL	C	0.01%	0.02%	0.01%
	NWSA	D	0.04%	0.06%	0.04%
	NXST	D	0.01%	0.05%	0.01%
	NYT	C	0.04%	0.05%	0.04%
	OC	C	0.07%	0.07%	0.07%
	OGN	C	0.02%	0.08%	0.02%
	OKE	A	0.2%	0.08%	0.08%
	OKTA	F	0.03%	0.03%	0.03%
	OLLI	C	0.02%	0.01%	0.01%
	OLN	D	0.02%	0.04%	0.02%
	OMC	B	0.08%	0.06%	0.06%
	OMF	D	0.02%	0.03%	0.02%
	ORLY	B	0.02%	0.18%	0.02%
	OSK	D	0.03%	0.07%	0.03%
	OTIS	C	0.16%	0.07%	0.07%
	PAG	D	0.01%	0.04%	0.01%
	PARA	F	0.03%	0.02%	0.02%
	PAYX	B	0.11%	0.03%	0.03%
	PCAR	D	0.21%	0.08%	0.08%
	PEG	A	0.16%	0.05%	0.05%
	PEP	B	0.2%	0.62%	0.2%
	PFE	C	0.71%	0.53%	0.53%
	PFG	C	0.08%	0.01%	0.01%
	PG	A	1.21%	0.88%	0.88%
	PGR	B	0.08%	0.5%	0.08%
	PH	B	0.29%	0.13%	0.13%
	PHM	B	0.11%	0.17%	0.11%
	PINC	C	0.01%	0.02%	0.01%
	PK	F	0.01%	0.06%	0.01%
	PKG	B	0.07%	0.05%	0.05%
	PM	B	0.73%	0.56%	0.56%
	PNC	B	0.29%	0.1%	0.1%
	PNR	A	0.06%	0.08%	0.06%
	POST	C	0.02%	0.05%	0.02%
	PPG	C	0.12%	0.04%	0.04%
	PR	D	0.03%	0.04%	0.03%
	PRU	C	0.18%	0.25%	0.18%
	PSA	A	0.16%	0.03%	0.03%
	PSN	B	0.02%	0.02%	0.02%
	PSTG	D	0.01%	0.03%	0.01%
	PSX	F	0.25%	0.54%	0.25%
	PTC	D	0.03%	0.05%	0.03%
	PVH	D	0.02%	0.04%	0.02%
	PWR	C	0.11%	0.13%	0.11%
	QCOM	D	0.05%	0.62%	0.05%
	QRVO	F	0.05%	0.01%	0.01%
	R	B	0.02%	0.06%	0.02%
	RBC	D	0.03%	0.01%	0.01%
	RCL	B	0.1%	0.08%	0.08%
	REGN	C	0.42%	0.45%	0.42%
	RGA	B	0.06%	0.05%	0.05%
	RGLD	B	0.04%	0.04%	0.04%
	RHI	D	0.03%	0.02%	0.02%
	RJF	C	0.09%	0.01%	0.01%
	RL	B	0.03%	0.04%	0.03%
	RLI	B	0.02%	0.03%	0.02%
	RMD	B	0.09%	0.13%	0.09%
	ROP	B	0.24%	0.06%	0.06%
	ROST	C	0.15%	0.07%	0.07%
	RPM	B	0.05%	0.11%	0.05%
	RPRX	C	0.05%	0.03%	0.03%
	RRC	D	0.03%	0.04%	0.03%
	RS	D	0.07%	0.08%	0.07%
	RSG	B	0.16%	0.13%	0.13%
	RYN	C	0.02%	0.02%	0.02%
	SAIA	D	0.02%	0.04%	0.02%
	SAIC	B	0.03%	0.01%	0.01%
	SAM	F	0.01%	0.02%	0.01%
	SBAC	B	0.1%	0.03%	0.03%
	SBUX	C	0.08%	0.06%	0.06%
	SCHW	D	0.36%	0.16%	0.16%
	SCI	A	0.05%	0.06%	0.05%
	SEB	C	0.0%	0.04%	0.0%
	SEE	D	0.02%	0.06%	0.02%
	SEIC	C	0.03%	0.07%	0.03%
	SF	B	0.04%	0.01%	0.01%
	SHW	A	0.03%	0.21%	0.03%
	SJM	C	0.05%	0.03%	0.03%
	SKX	C	0.03%	0.02%	0.02%
	SLB	F	0.28%	0.09%	0.09%
	SLGN	B	0.02%	0.04%	0.02%
	SLM	D	0.02%	0.06%	0.02%
	SMG	C	0.01%	0.04%	0.01%
	SNDR	B	0.01%	0.02%	0.01%
	SNV	C	0.03%	0.01%	0.01%
	SON	C	0.02%	0.04%	0.02%
	SPB	B	0.01%	0.01%	0.01%
	SPG	B	0.15%	0.15%	0.15%
	SPGI	A	0.62%	0.06%	0.06%
	SRCL	A	0.02%	0.04%	0.02%
	SSD	C	0.03%	0.03%	0.03%
	STE	B	0.1%	0.12%	0.1%
	STLD	F	0.08%	0.04%	0.04%
	STZ	C	0.16%	0.04%	0.04%
	SUI	B	0.06%	0.05%	0.05%
	SWN	D	0.03%	0.01%	0.01%
	SYF	D	0.08%	0.29%	0.08%
	SYY	C	0.06%	0.07%	0.06%
	T	A	0.57%	1.23%	0.57%
	TAP	C	0.04%	0.08%	0.04%
	TDG	B	0.23%	0.15%	0.15%
	TER	D	0.01%	0.03%	0.01%
	TFC	D	0.24%	0.09%	0.09%
	TFX	B	0.04%	0.03%	0.03%
	TGT	C	0.29%	0.68%	0.29%
	THC	B	0.06%	0.27%	0.06%
	THG	A	0.02%	0.04%	0.02%
	THO	C	0.02%	0.06%	0.02%
	TJX	B	0.21%	0.34%	0.21%
	TKR	D	0.02%	0.05%	0.02%
	TMUS	A	0.36%	0.31%	0.31%
	TOL	B	0.06%	0.1%	0.06%
	TPR	C	0.04%	0.01%	0.01%
	TROW	D	0.1%	0.08%	0.08%
	TRV	A	0.2%	0.32%	0.2%
	TSN	C	0.07%	0.22%	0.07%
	TTC	D	0.04%	0.07%	0.04%
	TTEK	B	0.04%	0.02%	0.02%
	TTWO	D	0.1%	0.07%	0.07%
	TW	A	0.03%	0.05%	0.03%
	TXN	D	0.67%	0.21%	0.21%
	TXT	D	0.07%	0.03%	0.03%
	TYL	B	0.01%	0.08%	0.01%
	UAL	C	0.06%	0.01%	0.01%
	UDR	B	0.05%	0.03%	0.03%
	UHAL	B	0.0%	0.01%	0.0%
	UHAL	B	0.0%	0.03%	0.0%
	UHAL	B	0.02%	0.03%	0.02%
	UHAL	B	0.02%	0.01%	0.01%
	UHS	B	0.05%	0.09%	0.05%
	ULTA	D	0.01%	0.04%	0.01%
	UNM	B	0.05%	0.1%	0.05%
	UNP	B	0.32%	0.48%	0.32%
	UPS	D	0.39%	0.19%	0.19%
	URI	C	0.16%	0.09%	0.09%
	USB	C	0.29%	0.11%	0.11%
	USFD	A	0.05%	0.09%	0.05%
	UTHR	C	0.06%	0.16%	0.06%
	VFC	C	0.02%	0.02%	0.02%
	VIRT	B	0.01%	0.05%	0.01%
	VLO	F	0.22%	0.54%	0.22%
	VMC	D	0.11%	0.06%	0.06%
	VNO	A	0.02%	0.06%	0.02%
	VNT	D	0.02%	0.02%	0.02%
	VRSN	D	0.06%	0.04%	0.04%
	VRTX	C	0.26%	0.21%	0.21%
	VTRS	C	0.06%	0.13%	0.06%
	VZ	A	0.7%	1.01%	0.7%
	WAB	B	0.12%	0.04%	0.04%
	WAL	B	0.04%	0.01%	0.01%
	WAT	C	0.03%	0.05%	0.03%
	WBA	F	0.03%	0.14%	0.03%
	WBS	D	0.03%	0.01%	0.01%
	WCC	D	0.03%	0.08%	0.03%
	WDC	D	0.09%	0.15%	0.09%
	WELL	B	0.27%	0.12%	0.12%
	WEN	C	0.01%	0.05%	0.01%
	WFC	F	0.85%	1.4%	0.85%
	WH	B	0.02%	0.03%	0.02%
	WHR	D	0.02%	0.04%	0.02%
	WMB	A	0.21%	0.08%	0.08%
	WMS	D	0.03%	0.02%	0.02%
	WMT	B	1.22%	1.87%	1.22%
	WOLF	F	0.01%	0.0%	0.0%
	WPC	B	0.05%	0.05%	0.05%
	WRB	C	0.07%	0.02%	0.02%
	WSM	C	0.03%	0.21%	0.03%
	WSO	C	0.07%	0.2%	0.07%
	WST	F	0.04%	0.04%	0.04%
	WTFC	C	0.03%	0.01%	0.01%
	WTM	D	0.02%	0.04%	0.02%
	WTW	B	0.12%	0.05%	0.05%
	WU	F	0.01%	0.08%	0.01%
	WWD	D	0.04%	0.01%	0.01%
	X	D	0.04%	0.06%	0.04%
	XOM	D	2.18%	0.99%	0.99%
	XRAY	D	0.02%	0.04%	0.02%
	XYL	D	0.13%	0.11%	0.11%
	YUM	B	0.09%	0.1%	0.09%
	ZION	D	0.03%	0.03%	0.03%
	ZTS	B	0.06%	0.04%	0.04%

VONV Overweight 303 Positions Relative to MFUS

	Symbol	Grade	Weight
	UNH	C	2.02%
	TMO	B	0.96%
	LIN	B	0.89%
	ABT	B	0.75%
	DIS	D	0.71%
	RTX	C	0.64%
	NEE	B	0.64%
	BLK	A	0.53%
	PLD	B	0.48%
	ADI	D	0.47%
	MS	D	0.46%
	HON	D	0.46%
	MDT	B	0.44%
	DE	B	0.39%
	SO	A	0.38%
	BA	F	0.38%
	SYK	B	0.34%
	AMD	D	0.32%
	FDX	C	0.28%
	PYPL	B	0.28%
	APD	B	0.24%
	NSC	C	0.23%
	MRVL	C	0.22%
	DHI	B	0.22%
	SRE	B	0.21%
	AEP	A	0.21%
	CCI	B	0.2%
	GEV	B	0.2%
	O	B	0.2%
	TT	A	0.2%
	MCHP	D	0.19%
	HUM	F	0.18%
	D	B	0.18%
	JCI	B	0.17%
	CNC	C	0.17%
	MRNA	F	0.16%
	OXY	F	0.16%
	PCG	B	0.16%
	IQV	C	0.16%
	AME	D	0.16%
	KVUE	B	0.15%
	CTSH	B	0.15%
	ON	D	0.14%
	ED	B	0.14%
	CBRE	B	0.14%
	ACGL	A	0.14%
	CSGP	D	0.13%
	XEL	B	0.13%
	VICI	B	0.13%
	ROK	D	0.12%
	AVB	B	0.12%
	DVN	F	0.12%
	EIX	B	0.12%
	EW	D	0.12%
	GPN	C	0.11%
	EQR	B	0.11%
	GRMN	D	0.11%
	WEC	B	0.11%
	DAL	C	0.11%
	AWK	A	0.11%
	MSTR	D	0.1%
	FE	B	0.1%
	KEYS	C	0.1%
	ETR	A	0.1%
	DTE	A	0.1%
	FTV	C	0.1%
	STT	B	0.1%
	WBD	D	0.09%
	AEE	A	0.09%
	PPL	A	0.09%
	VTR	B	0.09%
	ZBH	D	0.09%
	ES	B	0.09%
	FSLR	D	0.09%
	WY	C	0.09%
	APTV	F	0.08%
	EQT	D	0.08%
	ATO	A	0.08%
	CMS	A	0.08%
	CBOE	B	0.08%
	ILMN	C	0.08%
	TDY	B	0.08%
	SQ	D	0.08%
	ARE	B	0.08%
	LNG	C	0.08%
	RF	C	0.08%
	LUV	C	0.07%
	SWK	B	0.07%
	MAA	A	0.07%
	TRU	A	0.07%
	CNP	C	0.07%
	ESS	A	0.07%
	J	D	0.07%
	SWKS	F	0.07%
	RIVN	F	0.06%
	NI	A	0.06%
	ZBRA	C	0.06%
	EG	B	0.06%
	LNT	A	0.06%
	CF	C	0.06%
	KIM	B	0.06%
	VLTO	B	0.06%
	RBA	B	0.06%
	EL	F	0.06%
	BG	F	0.06%
	SNA	B	0.06%
	ZM	C	0.06%
	HES	F	0.06%
	AMCR	B	0.06%
	DOC	B	0.06%
	SSNC	A	0.06%
	LKQ	D	0.05%
	EPAM	D	0.05%
	APA	F	0.05%
	SW	B	0.05%
	ALLE	A	0.05%
	RNR	B	0.05%
	KMX	D	0.05%
	REG	B	0.05%
	OVV	F	0.05%
	CRL	D	0.05%
	TECH	D	0.05%
	TRMB	C	0.05%
	CZR	D	0.04%
	GL	C	0.04%
	PRI	B	0.04%
	ORI	B	0.04%
	NTNX	C	0.04%
	EGP	B	0.04%
	OHI	B	0.04%
	ARMK	B	0.04%
	SNX	D	0.04%
	PFGC	B	0.04%
	CVNA	B	0.04%
	FRT	B	0.04%
	CNH	C	0.04%
	PNW	A	0.04%
	QGEN	B	0.04%
	CHK	D	0.04%
	MTCH	C	0.04%
	WTRG	D	0.04%
	MGM	D	0.04%
	RRX	C	0.04%
	REXR	C	0.04%
	ALB	D	0.04%
	GME	F	0.03%
	ROKU	C	0.03%
	XP	D	0.03%
	DAR	F	0.03%
	AFRM	C	0.03%
	AAL	D	0.03%
	PB	B	0.03%
	LFUS	D	0.03%
	BIO	C	0.03%
	SOFI	C	0.03%
	CROX	C	0.03%
	BPOP	C	0.03%
	GXO	D	0.03%
	MAT	C	0.03%
	BRBR	C	0.03%
	ADC	B	0.03%
	CFR	C	0.03%
	MTZ	B	0.03%
	WEX	C	0.03%
	ONTO	D	0.03%
	MIDD	D	0.03%
	FMC	C	0.03%
	PNFP	B	0.03%
	VOYA	A	0.03%
	STAG	B	0.03%
	TKO	B	0.03%
	CIEN	C	0.03%
	BRX	B	0.03%
	OGE	B	0.03%
	WYNN	D	0.03%
	DAY	C	0.03%
	RGEN	F	0.03%
	CGNX	D	0.03%
	NNN	B	0.03%
	SOLV	C	0.03%
	TWLO	D	0.03%
	LSXMK	D	0.02%
	SPR	D	0.02%
	GTES	C	0.02%
	PRGO	C	0.02%
	BILL	D	0.02%
	FRPT	B	0.02%
	COTY	D	0.02%
	IAC	C	0.02%
	SN	B	0.02%
	DBX	D	0.02%
	SITE	D	0.02%
	CUZ	B	0.02%
	BYD	C	0.02%
	ZG	B	0.02%
	KRC	C	0.02%
	PII	D	0.02%
	AGO	C	0.02%
	S	C	0.02%
	EEFT	F	0.02%
	FOX	C	0.02%
	ALK	C	0.02%
	ASH	D	0.02%
	CLF	F	0.02%
	IDA	B	0.02%
	WLK	D	0.02%
	OZK	D	0.02%
	GFS	F	0.02%
	W	D	0.02%
	EXAS	C	0.02%
	CIVI	F	0.02%
	OLED	C	0.02%
	AL	D	0.02%
	UGI	B	0.02%
	WSC	D	0.02%
	COLB	C	0.02%
	FNB	D	0.02%
	MTSI	D	0.02%
	Z	B	0.02%
	ST	F	0.02%
	AXS	B	0.02%
	ACHC	C	0.02%
	STWD	B	0.02%
	VMI	D	0.02%
	AMC	D	0.01%
	DV	F	0.01%
	REYN	C	0.01%
	UAA	C	0.01%
	INFA	D	0.01%
	PPC	D	0.01%
	VSTS	D	0.01%
	SHC	B	0.01%
	MP	D	0.01%
	TRIP	F	0.01%
	ALGM	D	0.01%
	CERT	F	0.01%
	GO	F	0.01%
	AZEK	C	0.01%
	GLOB	D	0.01%
	RCM	C	0.01%
	HAYW	D	0.01%
	BROS	D	0.01%
	FTRE	F	0.01%
	RKT	B	0.01%
	ADTN	F	0.01%
	QS	F	0.01%
	IPGP	F	0.01%
	HHH	C	0.01%
	BIRK	D	0.01%
	BOKF	B	0.01%
	YETI	D	0.01%
	AGR	B	0.01%
	ENOV	F	0.01%
	ETSY	F	0.01%
	U	D	0.01%
	COLM	B	0.01%
	CLVT	D	0.01%
	MPW	B	0.01%
	PLNT	B	0.01%
	NVST	D	0.01%
	VAC	F	0.01%
	AM	B	0.01%
	PENN	D	0.01%
	NSA	A	0.01%
	DOCS	B	0.01%
	PAYC	D	0.01%
	LCID	C	0.01%
	IRDM	D	0.01%
	TNL	F	0.01%
	FHB	C	0.01%
	HIW	A	0.01%
	TPG	B	0.01%
	NWS	D	0.01%
	DNB	C	0.01%
	CNXC	D	0.01%
	ALNY	C	0.01%
	EPR	B	0.01%
	AZTA	D	0.01%
	MSGS	B	0.01%
	LITE	C	0.01%
	RH	C	0.01%
	ZI	D	0.01%
	UWMC	C	0.0%
	UI	B	0.0%
	IONS	F	0.0%
	LBRDA	D	0.0%
	PLTK	D	0.0%
	CHH	C	0.0%
	NFE	F	0.0%
	DJT	F	0.0%
	PATH	D	0.0%
	TFSL	C	0.0%
	SIRI	C	0.0%
	HCP	A	0.0%
	TXG	D	0.0%
	FIVE	D	0.0%
	PYCR	D	0.0%
	LSCC	D	0.0%
	NCNO	F	0.0%
	CAR	F	0.0%
	CNA	C	0.0%
	UA	C	0.0%
	HAS	B	0.0%

VONV Underweight 247 Positions Relative to MFUS

	Symbol	Grade	Weight
	LLY	C	-2.48%
	META	B	-2.02%
	NVDA	D	-1.6%
	AVGO	C	-1.34%
	AMZN	C	-1.27%
	COST	B	-1.21%
	GOOGL	D	-1.17%
	ORCL	B	-1.13%
	MRK	D	-0.87%
	V	A	-0.86%
	MA	A	-0.79%
	AAPL	D	-0.67%
	NFLX	B	-0.44%
	NOW	B	-0.37%
	LRCX	F	-0.27%
	VST	C	-0.26%
	INTU	C	-0.26%
	ANF	D	-0.26%
	PANW	C	-0.25%
	LII	A	-0.23%
	WM	D	-0.23%
	BX	A	-0.23%
	KLAC	D	-0.23%
	CMG	C	-0.22%
	UBER	C	-0.21%
	VRSK	D	-0.2%
	SFM	B	-0.19%
	DVA	A	-0.18%
	DECK	C	-0.17%
	MUSA	B	-0.17%
	IT	B	-0.16%
	CLX	B	-0.15%
	BAH	B	-0.14%
	SMCI	F	-0.14%
	TRGP	B	-0.13%
	ANET	C	-0.12%
	CRS	B	-0.1%
	GPI	B	-0.09%
	ERIE	B	-0.09%
	AEO	F	-0.09%
	ADSK	B	-0.09%
	JXN	B	-0.09%
	ARES	C	-0.09%
	GDDY	D	-0.09%
	MTH	B	-0.08%
	LUMN	C	-0.08%
	TMHC	B	-0.08%
	MPWR	C	-0.08%
	ABG	F	-0.07%
	POOL	C	-0.07%
	CMC	D	-0.07%
	CALM	B	-0.07%
	SLG	B	-0.07%
	TSCO	B	-0.07%
	EQH	C	-0.07%
	LPLA	F	-0.07%
	MMS	D	-0.06%
	TPX	C	-0.06%
	HCC	D	-0.06%
	IDXX	C	-0.06%
	BCC	C	-0.06%
	TEX	D	-0.06%
	NSIT	C	-0.06%
	PBF	F	-0.06%
	MLI	B	-0.06%
	CNX	B	-0.06%
	UFPI	C	-0.06%
	ATGE	D	-0.05%
	CBT	B	-0.05%
	SKYW	C	-0.05%
	ROL	B	-0.05%
	MUR	F	-0.05%
	TXRH	D	-0.05%
	SANM	D	-0.05%
	FL	D	-0.05%
	FIX	B	-0.05%
	CPAY	C	-0.05%
	URBN	D	-0.05%
	FLEX	D	-0.05%
	MHO	B	-0.05%
	KTB	A	-0.05%
	TPH	C	-0.05%
	APLE	D	-0.04%
	GEO	D	-0.04%
	HUBG	C	-0.04%
	FHI	B	-0.04%
	TGNA	C	-0.04%
	GATX	C	-0.04%
	VC	F	-0.04%
	CNO	B	-0.04%
	HEI	A	-0.04%
	GVA	B	-0.04%
	NBIX	D	-0.04%
	ENTG	D	-0.04%
	GNW	B	-0.04%
	PINS	F	-0.04%
	ABM	D	-0.04%
	MOG.A	B	-0.04%
	ADBE	D	-0.04%
	BTU	D	-0.04%
	KBH	B	-0.04%
	BDC	B	-0.04%
	LANC	D	-0.04%
	SIG	C	-0.04%
	COOP	B	-0.04%
	MAC	B	-0.04%
	VVV	D	-0.03%
	PRG	B	-0.03%
	NAVI	C	-0.03%
	MC	B	-0.03%
	DK	F	-0.03%
	BKU	C	-0.03%
	BURL	B	-0.03%
	PRIM	C	-0.03%
	YELP	F	-0.03%
	GBX	C	-0.03%
	SM	F	-0.03%
	HP	F	-0.03%
	SHOO	B	-0.03%
	DBRG	D	-0.03%
	RUSHA	C	-0.03%
	MORN	C	-0.03%
	WTS	C	-0.03%
	SBH	C	-0.03%
	MCO	B	-0.03%
	HBI	B	-0.03%
	TRN	C	-0.03%
	AVA	B	-0.03%
	PDCO	D	-0.03%
	GT	F	-0.03%
	MANH	A	-0.03%
	SEM	D	-0.03%
	SLVM	B	-0.03%
	TDS	B	-0.03%
	ACA	C	-0.03%
	XPO	D	-0.03%
	CVLT	B	-0.03%
	VSH	F	-0.03%
	APP	B	-0.03%
	ASO	C	-0.03%
	GMS	C	-0.03%
	AROC	D	-0.03%
	CPNG	B	-0.03%
	OI	D	-0.03%
	ODFL	D	-0.02%
	APOG	C	-0.02%
	HNI	C	-0.02%
	LXP	B	-0.02%
	ODP	F	-0.02%
	ANDE	D	-0.02%
	DORM	B	-0.02%
	CHDN	B	-0.02%
	OSIS	C	-0.02%
	SNAP	F	-0.02%
	GES	F	-0.02%
	XRX	F	-0.02%
	IGT	D	-0.02%
	MCY	C	-0.02%
	XHR	C	-0.02%
	AIT	C	-0.02%
	NTCT	D	-0.02%
	PMT	C	-0.02%
	SXT	D	-0.02%
	GHC	C	-0.02%
	EPC	F	-0.02%
	REZI	D	-0.02%
	NSP	F	-0.02%
	VSTO	B	-0.02%
	RLJ	F	-0.02%
	PFSI	B	-0.02%
	GEF	D	-0.02%
	HAE	D	-0.02%
	AIR	C	-0.02%
	LNW	B	-0.02%
	ORA	C	-0.02%
	CXW	D	-0.02%
	PLXS	B	-0.02%
	APAM	C	-0.02%
	TDC	F	-0.02%
	PNM	B	-0.02%
	WERN	D	-0.02%
	DRH	C	-0.02%
	LZB	C	-0.02%
	SHO	D	-0.02%
	STC	B	-0.02%
	BKE	B	-0.02%
	ADNT	F	-0.02%
	UNF	B	-0.02%
	THS	C	-0.02%
	MATX	C	-0.02%
	SCHL	D	-0.01%
	SCL	D	-0.01%
	ARCH	D	-0.01%
	KALU	D	-0.01%
	SCCO	D	-0.01%
	ECPG	C	-0.01%
	WGO	D	-0.01%
	UVV	D	-0.01%
	HELE	D	-0.01%
	HPP	F	-0.01%
	MLKN	D	-0.01%
	SWX	C	-0.01%
	WOR	F	-0.01%
	BECN	D	-0.01%
	JELD	D	-0.01%
	SYNA	F	-0.01%
	SIGI	C	-0.01%
	ARCB	D	-0.01%
	CENTA	D	-0.01%
	JBGS	B	-0.01%
	FLR	D	-0.01%
	LVS	D	-0.01%
	FELE	D	-0.01%
	WAFD	B	-0.01%
	WMK	C	-0.01%
	BRC	B	-0.01%
	DY	C	-0.01%
	CADE	C	-0.01%
	KN	D	-0.01%
	PECO	B	-0.01%
	ONB	C	-0.01%
	CBRL	F	-0.01%
	CSGS	C	-0.01%
	STRA	D	-0.01%
	TTMI	D	-0.01%
	CVI	F	-0.01%
	DEI	A	-0.01%
	AMWD	C	-0.01%
	TREX	F	-0.01%
	LAUR	C	-0.01%
	OMI	D	-0.01%
	SAH	D	-0.01%
	NNI	B	-0.01%
	IOSP	D	-0.01%
	LADR	B	-0.01%
	GOLF	D	-0.01%
	PSMT	B	-0.01%
	TNET	D	-0.01%
	BHE	C	-0.01%
	DAN	F	-0.01%
	PTEN	F	-0.01%
	ESNT	B	-0.01%
	PHIN	C	-0.01%
	SCS	C	-0.01%
	DNOW	D	-0.01%
	SATS	B	-0.01%
	NOMD	B	-0.0%

VONV: Top Represented Industries & Keywords

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

Keywords: S&P 500 Nasdaq 100 Natural Gas Insurance Bank Electronics Banking Computing Real Estate Investment Trust Chemical Aerospace Electricity Mining Telecommunications Insurance Products Semiconductor Biotechnology Dow Jones Component Plastic Beverage

MFUS: Top Represented Industries & Keywords

Industries: Diversified Industrials Asset Management Banks - Regional - US Software - Application Business Services Packaged Foods Specialty Chemicals Specialty Retail Building Materials Capital Markets Insurance - Property & Casualty Oil & Gas E&P Aerospace & Defense Credit Services Packaging & Containers Engineering & Construction Information Technology Services Semiconductors Medical Instruments & Supplies REIT - Diversified

Keywords: S&P 500 Nasdaq 100 Insurance Chemical Aerospace Computing Mining Natural Gas Electronics Bank Banking Real Estate Investment Trust Telecommunications Transport Building Materials Construction Retailing Beverage Dow Jones Component Plastic