VONV vs. SPUS ETF Comparison

Comparison of Vanguard Russell 1000 Value ETF (VONV) to SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS)

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

$83.04

Average Daily Volume

318,011

Number of Holdings ^*

839

* may have additional holdings in another (foreign) market

SPUS

SP Funds S&P 500 Sharia Industry Exclusions ETF

SPUS Description

The investment seeks to track the performance, before fees and expenses, of the S&P 500 Shariah Industry Exclusions Index. The index is composed of the constituents of the S&P 500® Shariah Index other than those from the following sub-industries: Aerospace & Defense, Financial Exchanges & Data, and Data Processing & Outsourced Services. The manager attempts to invest all, or substantially all, of its assets in the component securities that make up the index. Under normal circumstances, at least 80% of the fund's total assets will be invested in the component securities of the index. It is non-diversified.

Grade (RS Rating)

Last Trade

$41.30

Average Daily Volume

176,171

Number of Holdings ^*

230

* may have additional holdings in another (foreign) market

Performance

Period	VONV	SPUS
30 Days	3.44%	1.12%
60 Days	5.25%	2.44%
90 Days	8.24%	2.15%
12 Months	23.07%	32.03%

189 Overlapping Holdings

	Symbol	Grade	Weight in VONV	Weight in SPUS	Overlap
	A	C	0.17%	0.13%	0.13%
	ABBV	C	0.79%	1.14%	0.79%
	ABT	C	0.79%	0.67%	0.67%
	ACN	C	0.86%	0.73%	0.73%
	ADI	C	0.47%	0.37%	0.37%
	ADM	D	0.12%	0.1%	0.1%
	AKAM	D	0.06%	0.05%	0.05%
	ALB	D	0.04%	0.03%	0.03%
	ALGN	D	0.03%	0.06%	0.03%
	ALLE	B	0.05%	0.04%	0.04%
	AMAT	D	0.05%	0.52%	0.05%
	AMD	D	0.33%	0.82%	0.33%
	AME	C	0.16%	0.13%	0.13%
	ANSS	D	0.11%	0.09%	0.09%
	AOS	D	0.04%	0.03%	0.03%
	APD	B	0.25%	0.21%	0.21%
	APH	D	0.13%	0.25%	0.13%
	APTV	D	0.08%	0.06%	0.06%
	AVB	B	0.13%	0.11%	0.11%
	AVY	C	0.04%	0.06%	0.04%
	AZO	D	0.02%	0.17%	0.02%
	BBY	C	0.09%	0.06%	0.06%
	BDX	D	0.28%	0.22%	0.22%
	BIIB	F	0.12%	0.09%	0.09%
	BIO	C	0.03%	0.02%	0.02%
	BKNG	C	0.03%	0.44%	0.03%
	BKR	C	0.14%	0.11%	0.11%
	BLDR	C	0.08%	0.07%	0.07%
	BSX	B	0.48%	0.41%	0.41%
	CAH	C	0.04%	0.09%	0.04%
	CDW	D	0.06%	0.1%	0.06%
	CEG	C	0.21%	0.2%	0.2%
	CF	C	0.06%	0.05%	0.05%
	CHD	D	0.1%	0.08%	0.08%
	CHRW	B	0.05%	0.04%	0.04%
	CL	D	0.16%	0.29%	0.16%
	CMI	C	0.17%	0.14%	0.14%
	COP	D	0.54%	0.4%	0.4%
	CPRT	D	0.01%	0.15%	0.01%
	CPT	B	0.05%	0.04%	0.04%
	CRL	F	0.04%	0.03%	0.03%
	CRM	D	0.14%	0.82%	0.14%
	CSCO	C	0.82%	0.67%	0.67%
	CSGP	D	0.13%	0.11%	0.11%
	CSX	D	0.27%	0.22%	0.22%
	CTAS	B	0.01%	0.23%	0.01%
	CTRA	D	0.07%	0.06%	0.06%
	CTSH	C	0.16%	0.13%	0.13%
	CTVA	B	0.16%	0.13%	0.13%
	DD	B	0.14%	0.11%	0.11%
	DGX	B	0.07%	0.06%	0.06%
	DHI	B	0.22%	0.19%	0.19%
	DHR	B	0.72%	0.6%	0.6%
	DOV	B	0.1%	0.08%	0.08%
	DVN	F	0.11%	0.08%	0.08%
	EBAY	B	0.12%	0.11%	0.11%
	ECL	B	0.03%	0.21%	0.03%
	EFX	B	0.12%	0.13%	0.12%
	EL	F	0.05%	0.07%	0.05%
	EMR	D	0.24%	0.19%	0.19%
	EOG	D	0.3%	0.23%	0.23%
	EPAM	F	0.04%	0.04%	0.04%
	EQIX	C	0.3%	0.27%	0.27%
	EQR	B	0.11%	0.09%	0.09%
	ETN	C	0.49%	0.41%	0.41%
	ETSY	F	0.01%	0.02%	0.01%
	EW	F	0.14%	0.14%	0.14%
	EXPD	C	0.06%	0.06%	0.06%
	FANG	D	0.14%	0.1%	0.1%
	FAST	C	0.02%	0.13%	0.02%
	FCX	D	0.25%	0.2%	0.2%
	FFIV	B	0.05%	0.04%	0.04%
	FICO	B	0.03%	0.15%	0.03%
	FSLR	C	0.1%	0.08%	0.08%
	FTNT	C	0.04%	0.16%	0.04%
	FTV	C	0.1%	0.09%	0.09%
	GEHC	C	0.13%	0.12%	0.12%
	GILD	B	0.4%	0.34%	0.34%
	GIS	B	0.16%	0.14%	0.14%
	GLW	C	0.13%	0.11%	0.11%
	GNRC	D	0.02%	0.03%	0.02%
	GPC	D	0.08%	0.06%	0.06%
	GRMN	D	0.11%	0.09%	0.09%
	GWW	B	0.02%	0.14%	0.02%
	HAL	F	0.11%	0.08%	0.08%
	HD	B	0.3%	1.25%	0.3%
	HES	F	0.05%	0.12%	0.05%
	HOLX	B	0.08%	0.06%	0.06%
	HON	D	0.46%	0.44%	0.44%
	HPQ	D	0.11%	0.1%	0.1%
	HSIC	C	0.04%	0.03%	0.03%
	HSY	C	0.1%	0.1%	0.1%
	HUBB	B	0.09%	0.07%	0.07%
	IEX	D	0.06%	0.05%	0.05%
	INCY	C	0.05%	0.03%	0.03%
	IR	C	0.15%	0.12%	0.12%
	ITW	C	0.19%	0.23%	0.19%
	J	C	0.08%	0.06%	0.06%
	JBHT	D	0.06%	0.05%	0.05%
	JBL	D	0.05%	0.04%	0.04%
	JCI	B	0.17%	0.16%	0.16%
	JNJ	C	1.61%	1.32%	1.32%
	JNPR	B	0.05%	0.04%	0.04%
	K	B	0.08%	0.07%	0.07%
	KDP	B	0.16%	0.13%	0.13%
	KEYS	C	0.11%	0.09%	0.09%
	KMB	D	0.11%	0.16%	0.11%
	KVUE	C	0.17%	0.15%	0.15%
	LIN	B	0.92%	0.75%	0.75%
	LKQ	F	0.04%	0.04%	0.04%
	LOW	B	0.57%	0.49%	0.49%
	LW	D	0.02%	0.03%	0.02%
	MAA	B	0.08%	0.06%	0.06%
	MAS	B	0.07%	0.06%	0.06%
	MCHP	F	0.17%	0.14%	0.14%
	MCK	F	0.17%	0.22%	0.17%
	MDLZ	B	0.39%	0.34%	0.34%
	MDT	C	0.47%	0.4%	0.4%
	MHK	C	0.03%	0.03%	0.03%
	MKC	C	0.08%	0.07%	0.07%
	MLM	D	0.12%	0.11%	0.11%
	MMM	B	0.24%	0.24%	0.24%
	MNST	D	0.03%	0.12%	0.03%
	MOH	D	0.03%	0.07%	0.03%
	MOS	F	0.04%	0.03%	0.03%
	MSI	B	0.15%	0.24%	0.15%
	MTD	D	0.12%	0.09%	0.09%
	MU	F	0.43%	0.34%	0.34%
	NDSN	C	0.06%	0.04%	0.04%
	NEM	B	0.25%	0.21%	0.21%
	NKE	D	0.15%	0.32%	0.15%
	NSC	C	0.23%	0.18%	0.18%
	NTAP	D	0.06%	0.08%	0.06%
	NUE	F	0.15%	0.11%	0.11%
	ON	D	0.13%	0.1%	0.1%
	ORLY	C	0.02%	0.21%	0.02%
	OTIS	C	0.15%	0.13%	0.13%
	PAYC	D	0.01%	0.03%	0.01%
	PEP	C	0.2%	0.81%	0.2%
	PG	C	1.26%	1.37%	1.26%
	PH	B	0.31%	0.25%	0.25%
	PHM	B	0.11%	0.1%	0.1%
	PKG	B	0.07%	0.06%	0.06%
	PLD	C	0.47%	0.4%	0.4%
	PNR	B	0.06%	0.05%	0.05%
	PPG	D	0.12%	0.1%	0.1%
	PTC	D	0.03%	0.07%	0.03%
	PWR	B	0.11%	0.13%	0.11%
	QCOM	D	0.05%	0.62%	0.05%
	QRVO	F	0.04%	0.03%	0.03%
	REGN	C	0.46%	0.4%	0.4%
	RL	C	0.03%	0.02%	0.02%
	RMD	C	0.1%	0.12%	0.1%
	ROK	D	0.11%	0.1%	0.1%
	ROP	C	0.24%	0.19%	0.19%
	ROST	C	0.15%	0.17%	0.15%
	RSG	D	0.17%	0.14%	0.14%
	SHW	B	0.03%	0.29%	0.03%
	SLB	F	0.25%	0.19%	0.19%
	STE	C	0.1%	0.08%	0.08%
	STLD	F	0.07%	0.05%	0.05%
	SWKS	D	0.07%	0.05%	0.05%
	SYK	C	0.37%	0.42%	0.37%
	TECH	C	0.05%	0.04%	0.04%
	TER	D	0.01%	0.07%	0.01%
	TFX	C	0.05%	0.04%	0.04%
	TGT	C	0.29%	0.23%	0.23%
	TJX	B	0.22%	0.45%	0.22%
	TMO	B	0.94%	0.77%	0.77%
	TRMB	C	0.06%	0.05%	0.05%
	TT	B	0.22%	0.27%	0.22%
	TXN	C	0.69%	0.6%	0.6%
	TYL	C	0.02%	0.08%	0.02%
	ULTA	D	0.01%	0.06%	0.01%
	UNP	C	0.33%	0.5%	0.33%
	UPS	D	0.38%	0.31%	0.31%
	VLO	F	0.19%	0.15%	0.15%
	VLTO	C	0.06%	0.08%	0.06%
	VMC	D	0.1%	0.1%	0.1%
	VRSN	D	0.06%	0.05%	0.05%
	WAB	B	0.12%	0.1%	0.1%
	WAT	C	0.03%	0.06%	0.03%
	WBA	F	0.03%	0.02%	0.02%
	WST	D	0.04%	0.07%	0.04%
	WY	C	0.09%	0.08%	0.08%
	XOM	C	2.12%	1.66%	1.66%
	XYL	C	0.13%	0.11%	0.11%
	ZBH	F	0.09%	0.07%	0.07%
	ZBRA	B	0.06%	0.06%	0.06%

VONV Overweight 650 Positions Relative to SPUS

	Symbol	Grade	Weight
	BRK.A	C	3.5%
	JPM	D	2.59%
	UNH	C	2.03%
	WMT	C	1.35%
	BAC	D	1.11%
	CVX	D	1.02%
	WFC	D	0.82%
	MCD	B	0.78%
	PM	C	0.77%
	IBM	B	0.74%
	VZ	B	0.71%
	DIS	D	0.67%
	RTX	C	0.66%
	PFE	C	0.66%
	NEE	C	0.66%
	SPGI	B	0.64%
	CMCSA	D	0.62%
	GE	B	0.6%
	CAT	B	0.6%
	T	C	0.57%
	BLK	B	0.53%
	C	C	0.48%
	KO	C	0.48%
	GS	C	0.47%
	CB	B	0.46%
	MS	D	0.45%
	ELV	C	0.44%
	BMY	C	0.41%
	TMUS	C	0.39%
	MMC	C	0.39%
	DE	B	0.39%
	INTC	F	0.38%
	SO	B	0.38%
	CI	C	0.37%
	AXP	B	0.37%
	ICE	C	0.37%
	MO	C	0.37%
	SCHW	D	0.35%
	DUK	C	0.35%
	BA	F	0.34%
	GD	B	0.33%
	LMT	C	0.33%
	USB	B	0.3%
	PYPL	B	0.3%
	WELL	C	0.29%
	CVS	D	0.29%
	NOC	B	0.29%
	PNC	B	0.29%
	AON	B	0.27%
	FDX	C	0.27%
	VRTX	D	0.26%
	MPC	F	0.25%
	AFL	C	0.25%
	AJG	D	0.24%
	TFC	C	0.24%
	KKR	B	0.24%
	PSX	F	0.24%
	TDG	B	0.24%
	MRVL	C	0.24%
	GM	C	0.23%
	HCA	B	0.23%
	OKE	B	0.22%
	GEV	B	0.22%
	MAR	C	0.22%
	COF	B	0.22%
	WMB	B	0.22%
	AIG	D	0.21%
	SRE	C	0.21%
	TRV	C	0.21%
	AEP	C	0.21%
	O	C	0.21%
	CCI	C	0.2%
	DLR	B	0.2%
	CARR	B	0.2%
	PCAR	D	0.2%
	BK	B	0.2%
	MET	B	0.19%
	FIS	B	0.19%
	D	C	0.19%
	F	F	0.18%
	LEN	B	0.18%
	LHX	C	0.18%
	PSA	B	0.18%
	KMI	B	0.17%
	ALL	B	0.17%
	CNC	D	0.17%
	PCG	C	0.17%
	HUM	F	0.17%
	PRU	C	0.17%
	AMGN	B	0.16%
	IQV	C	0.16%
	PEG	B	0.16%
	SPG	B	0.16%
	EA	D	0.16%
	ACGL	C	0.16%
	HWM	B	0.15%
	EXR	B	0.15%
	URI	B	0.15%
	DOW	D	0.15%
	OXY	F	0.15%
	EXC	C	0.15%
	STZ	D	0.15%
	XEL	B	0.14%
	HIG	B	0.14%
	DFS	B	0.14%
	VICI	C	0.14%
	ED	C	0.14%
	CBRE	A	0.14%
	KR	C	0.14%
	KHC	C	0.13%
	CHTR	D	0.13%
	EIX	C	0.13%
	FITB	B	0.12%
	WEC	C	0.12%
	NDAQ	A	0.12%
	WTW	C	0.12%
	STT	A	0.11%
	HLT	B	0.11%
	IFF	B	0.11%
	PAYX	C	0.11%
	TTWO	C	0.11%
	NVR	B	0.11%
	DAL	C	0.11%
	AWK	B	0.11%
	GPN	D	0.11%
	MTB	B	0.11%
	ES	C	0.1%
	SBUX	C	0.1%
	DELL	D	0.1%
	SBAC	C	0.1%
	FCNCA	D	0.1%
	MRNA	F	0.1%
	VTR	C	0.1%
	HPE	D	0.1%
	FE	C	0.1%
	RCL	B	0.1%
	LYB	D	0.1%
	ETR	B	0.1%
	DTE	C	0.1%
	SQ	D	0.09%
	LDOS	B	0.09%
	WDC	D	0.09%
	RF	B	0.09%
	HBAN	B	0.09%
	CBOE	C	0.09%
	AEE	C	0.09%
	INVH	C	0.09%
	RJF	C	0.09%
	PGR	B	0.09%
	TROW	D	0.09%
	YUM	D	0.09%
	PPL	C	0.09%
	MSCI	C	0.08%
	PFG	B	0.08%
	WBD	D	0.08%
	ESS	B	0.08%
	BAX	C	0.08%
	OMC	B	0.08%
	MSTR	D	0.08%
	ATO	B	0.08%
	CFG	C	0.08%
	BALL	C	0.08%
	SYF	C	0.08%
	CMS	C	0.08%
	TDY	B	0.08%
	ARE	C	0.08%
	LNG	C	0.08%
	ILMN	C	0.08%
	CINF	B	0.08%
	RS	D	0.07%
	MRO	C	0.07%
	WSO	C	0.07%
	AMCR	B	0.07%
	CCL	C	0.07%
	SUI	B	0.07%
	IP	B	0.07%
	ZM	C	0.07%
	BMRN	F	0.07%
	LUV	C	0.07%
	CNP	C	0.07%
	DLTR	F	0.07%
	TXT	D	0.07%
	CSL	B	0.07%
	AVTR	B	0.07%
	TRU	B	0.07%
	TSN	C	0.07%
	DG	F	0.07%
	NTRS	A	0.07%
	EQT	D	0.07%
	WRB	C	0.07%
	UHS	B	0.06%
	GGG	C	0.06%
	BRO	C	0.06%
	EG	C	0.06%
	IRM	C	0.06%
	BG	D	0.06%
	VTRS	D	0.06%
	UAL	C	0.06%
	RGA	C	0.06%
	OC	D	0.06%
	UDR	C	0.06%
	SNA	C	0.06%
	ZTS	C	0.06%
	SYY	D	0.06%
	NI	B	0.06%
	L	C	0.06%
	CAG	C	0.06%
	TOL	B	0.06%
	LNT	B	0.06%
	APO	C	0.06%
	FNF	B	0.06%
	KIM	C	0.06%
	MKL	C	0.06%
	SWK	B	0.06%
	RBA	B	0.06%
	KEY	B	0.06%
	DOC	C	0.06%
	UTHR	C	0.06%
	THC	A	0.06%
	SSNC	B	0.06%
	NVT	D	0.05%
	RPRX	C	0.05%
	RPM	B	0.05%
	ITT	B	0.05%
	BLD	D	0.05%
	OVV	F	0.05%
	FTI	D	0.05%
	EWBC	D	0.05%
	CUBE	B	0.05%
	RIVN	F	0.05%
	BXP	B	0.05%
	SJM	C	0.05%
	EMN	B	0.05%
	CW	B	0.05%
	SW	B	0.05%
	AES	C	0.05%
	DKS	D	0.05%
	IPG	C	0.05%
	HST	C	0.05%
	KMX	D	0.05%
	JKHY	B	0.05%
	CLH	A	0.05%
	WPC	C	0.05%
	EVRG	B	0.05%
	RNR	C	0.05%
	REG	C	0.05%
	HOOD	C	0.05%
	IBKR	B	0.05%
	ELS	C	0.05%
	AMH	C	0.05%
	GLPI	C	0.05%
	USFD	B	0.05%
	ACM	B	0.05%
	DCI	C	0.04%
	SF	A	0.04%
	TWLO	D	0.04%
	WAL	B	0.04%
	CG	D	0.04%
	EVR	A	0.04%
	INGR	B	0.04%
	NYT	C	0.04%
	DRI	B	0.04%
	SOLV	C	0.04%
	EGP	B	0.04%
	MKTX	C	0.04%
	CNH	D	0.04%
	ORI	B	0.04%
	FHN	D	0.04%
	GPK	B	0.04%
	PRI	B	0.04%
	SNX	D	0.04%
	MGM	F	0.04%
	CHRD	F	0.04%
	EHC	C	0.04%
	RGLD	C	0.04%
	DPZ	F	0.04%
	TPR	C	0.04%
	HRL	C	0.04%
	TAP	D	0.04%
	FRT	C	0.04%
	CPB	C	0.04%
	AFG	B	0.04%
	ARMK	B	0.04%
	TTC	D	0.04%
	GL	C	0.04%
	OHI	B	0.04%
	PFGC	B	0.04%
	CHK	D	0.04%
	WTRG	D	0.04%
	MTCH	C	0.04%
	FOXA	B	0.04%
	WWD	D	0.04%
	TTEK	C	0.04%
	PNW	C	0.04%
	DOX	C	0.04%
	AFRM	C	0.04%
	QGEN	C	0.04%
	ATR	B	0.04%
	AIZ	B	0.04%
	ALLY	F	0.04%
	COHR	C	0.04%
	APA	F	0.04%
	CVNA	B	0.04%
	FDS	C	0.04%
	BJ	D	0.04%
	CCK	A	0.04%
	UNM	B	0.04%
	NRG	C	0.04%
	CACI	B	0.04%
	NWSA	D	0.04%
	CE	F	0.04%
	REXR	C	0.04%
	NTNX	C	0.04%
	CTLT	B	0.04%
	EME	B	0.04%
	CASY	D	0.04%
	RRX	C	0.04%
	SCI	B	0.04%
	HII	D	0.04%
	IVZ	B	0.03%
	R	A	0.03%
	GME	F	0.03%
	PARA	F	0.03%
	VFC	C	0.03%
	FAF	B	0.03%
	RHI	D	0.03%
	AAL	D	0.03%
	WMS	D	0.03%
	LSTR	D	0.03%
	MAT	C	0.03%
	FLS	D	0.03%
	CGNX	F	0.03%
	BPOP	C	0.03%
	Z	B	0.03%
	LEA	F	0.03%
	PB	B	0.03%
	CFR	C	0.03%
	DAR	F	0.03%
	LFUS	C	0.03%
	GWRE	A	0.03%
	SAIC	C	0.03%
	SNV	C	0.03%
	OKTA	F	0.03%
	XP	D	0.03%
	MSA	D	0.03%
	MTG	B	0.03%
	EXAS	C	0.03%
	SEIC	C	0.03%
	BFAM	C	0.03%
	G	C	0.03%
	BBWI	F	0.03%
	SOFI	C	0.03%
	KEX	C	0.03%
	WSM	D	0.03%
	SWN	D	0.03%
	NOV	F	0.03%
	SSD	D	0.03%
	OSK	F	0.03%
	PR	F	0.03%
	JAZZ	D	0.03%
	FYBR	C	0.03%
	HRB	C	0.03%
	WTFC	B	0.03%
	RRC	D	0.03%
	MTZ	B	0.03%
	AGNC	B	0.03%
	CROX	D	0.03%
	ZION	D	0.03%
	VOYA	B	0.03%
	RGEN	F	0.03%
	WCC	D	0.03%
	WEX	C	0.03%
	ADC	C	0.03%
	GNTX	F	0.03%
	WYNN	D	0.03%
	ROKU	C	0.03%
	ARW	C	0.03%
	BRBR	C	0.03%
	HLI	B	0.03%
	STAG	C	0.03%
	ACHC	C	0.03%
	BWXT	D	0.03%
	FR	B	0.03%
	MKSI	F	0.03%
	MIDD	D	0.03%
	FND	C	0.03%
	PNFP	B	0.03%
	CRBG	D	0.03%
	CMA	B	0.03%
	DAY	D	0.03%
	ELAN	D	0.03%
	CBSH	C	0.03%
	DTM	B	0.03%
	LECO	F	0.03%
	CR	C	0.03%
	JEF	B	0.03%
	ONTO	D	0.03%
	CHE	C	0.03%
	AR	F	0.03%
	BWA	D	0.03%
	CRUS	D	0.03%
	AYI	B	0.03%
	ATI	C	0.03%
	OGE	C	0.03%
	COKE	C	0.03%
	DINO	F	0.03%
	BERY	B	0.03%
	AXTA	B	0.03%
	FCN	D	0.03%
	FMC	C	0.03%
	AA	D	0.03%
	TKO	B	0.03%
	APG	D	0.03%
	WBS	D	0.03%
	CZR	C	0.03%
	ALSN	B	0.03%
	GMED	D	0.03%
	LAD	D	0.03%
	ADP	B	0.03%
	LAMR	B	0.03%
	KNX	C	0.03%
	ACI	F	0.03%
	BRX	B	0.03%
	COLD	D	0.03%
	CIEN	C	0.03%
	TW	B	0.03%
	JLL	B	0.03%
	KBR	D	0.03%
	SKX	D	0.03%
	X	F	0.03%
	RBC	C	0.03%
	NNN	C	0.03%
	DXC	C	0.02%
	MSM	D	0.02%
	KMPR	D	0.02%
	LITE	B	0.02%
	NEU	D	0.02%
	LSXMK	D	0.02%
	W	D	0.02%
	IAC	C	0.02%
	PRGO	D	0.02%
	AMP	A	0.02%
	SITE	C	0.02%
	CPRI	D	0.02%
	DOCS	B	0.02%
	CLF	F	0.02%
	BYD	C	0.02%
	UHAL	A	0.02%
	SAIA	D	0.02%
	DLB	D	0.02%
	BILL	D	0.02%
	KRC	B	0.02%
	AGO	C	0.02%
	M	F	0.02%
	CUZ	B	0.02%
	FRPT	B	0.02%
	SLGN	B	0.02%
	FLO	C	0.02%
	DBX	D	0.02%
	PSN	B	0.02%
	PII	D	0.02%
	CIVI	F	0.02%
	OLED	C	0.02%
	ASH	D	0.02%
	GAP	F	0.02%
	HOG	C	0.02%
	ALK	C	0.02%
	S	C	0.02%
	RYN	C	0.02%
	GFS	F	0.02%
	AN	D	0.02%
	OZK	D	0.02%
	WTM	D	0.02%
	EEFT	D	0.02%
	ZG	B	0.02%
	AL	D	0.02%
	SEE	D	0.02%
	SLM	D	0.02%
	WLK	D	0.02%
	JHG	B	0.02%
	AVT	C	0.02%
	WSC	D	0.02%
	FOX	B	0.02%
	SN	B	0.02%
	IDA	C	0.02%
	OLN	D	0.02%
	MDU	C	0.02%
	XRAY	D	0.02%
	HXL	F	0.02%
	THG	B	0.02%
	COLB	B	0.02%
	UGI	C	0.02%
	WHR	D	0.02%
	FNB	C	0.02%
	BC	C	0.02%
	KD	D	0.02%
	VNT	F	0.02%
	NFG	B	0.02%
	THO	D	0.02%
	TKR	D	0.02%
	OLLI	C	0.02%
	SRCL	A	0.02%
	LBRDK	F	0.02%
	LNC	D	0.02%
	SON	C	0.02%
	AMG	C	0.02%
	OMF	D	0.02%
	WH	B	0.02%
	PVH	F	0.02%
	AGCO	D	0.02%
	DASH	C	0.02%
	H	C	0.02%
	VMI	D	0.02%
	POST	C	0.02%
	BEN	F	0.02%
	OGN	D	0.02%
	ST	D	0.02%
	COIN	F	0.02%
	GXO	D	0.02%
	ESAB	C	0.02%
	RLI	B	0.02%
	ESI	D	0.02%
	VNO	B	0.02%
	MTSI	D	0.02%
	MTDR	F	0.02%
	STWD	B	0.02%
	AXS	B	0.02%
	SNDR	B	0.01%
	LYFT	D	0.01%
	CERT	F	0.01%
	WEN	C	0.01%
	TRIP	F	0.01%
	INFA	D	0.01%
	LEG	D	0.01%
	MP	D	0.01%
	UAA	C	0.01%
	REYN	C	0.01%
	BROS	D	0.01%
	PPC	D	0.01%
	LEN	B	0.01%
	AZEK	C	0.01%
	GO	F	0.01%
	ALGM	F	0.01%
	VSTS	D	0.01%
	FTRE	D	0.01%
	LPX	B	0.01%
	PSTG	F	0.01%
	SHC	C	0.01%
	IPGP	F	0.01%
	SAM	F	0.01%
	BIRK	F	0.01%
	QS	F	0.01%
	GLOB	D	0.01%
	ADTN	D	0.01%
	HAYW	C	0.01%
	EXP	B	0.01%
	KSS	F	0.01%
	BR	D	0.01%
	RCM	C	0.01%
	JWN	C	0.01%
	HHH	C	0.01%
	CRI	D	0.01%
	BOKF	B	0.01%
	YETI	D	0.01%
	PINC	C	0.01%
	MASI	F	0.01%
	AGR	B	0.01%
	VIRT	C	0.01%
	ENOV	D	0.01%
	CWEN	C	0.01%
	BRKR	D	0.01%
	VAC	F	0.01%
	MPW	C	0.01%
	AAP	F	0.01%
	CC	F	0.01%
	COLM	C	0.01%
	AZTA	F	0.01%
	U	D	0.01%
	RKT	C	0.01%
	CNM	F	0.01%
	SPB	C	0.01%
	CLVT	D	0.01%
	PENN	D	0.01%
	IRDM	D	0.01%
	BHF	F	0.01%
	LOPE	D	0.01%
	CACC	F	0.01%
	NWL	C	0.01%
	SMG	C	0.01%
	RH	B	0.01%
	TNL	D	0.01%
	ZI	D	0.01%
	FHB	D	0.01%
	AM	C	0.01%
	AMED	C	0.01%
	PAG	D	0.01%
	NVST	D	0.01%
	PK	D	0.01%
	TPG	B	0.01%
	PLNT	B	0.01%
	NXST	D	0.01%
	NWS	D	0.01%
	NSA	B	0.01%
	HIW	B	0.01%
	WU	F	0.01%
	MAN	C	0.01%
	EPR	B	0.01%
	MSGS	B	0.01%
	LCID	C	0.01%
	SPR	D	0.01%
	CNXC	F	0.01%
	HUN	D	0.01%
	DNB	C	0.01%
	AWI	B	0.01%
	COTY	F	0.01%
	ALNY	C	0.01%
	AMKR	F	0.01%
	GTES	C	0.01%
	UHAL	A	0.0%
	SEG	C	0.0%
	UWMC	D	0.0%
	NFE	F	0.0%
	DJT	F	0.0%
	UI	B	0.0%
	IONS	F	0.0%
	LBRDA	F	0.0%
	PLTK	C	0.0%
	CHH	C	0.0%
	CACC	F	0.0%
	SIRI	C	0.0%
	TFSL	C	0.0%
	PATH	D	0.0%
	HCP	B	0.0%
	CWEN	C	0.0%
	SEB	D	0.0%
	TXG	D	0.0%
	FIVE	D	0.0%
	CAR	F	0.0%
	LSCC	D	0.0%
	PYCR	D	0.0%
	NCNO	D	0.0%
	DDS	F	0.0%
	AMC	F	0.0%
	MTN	D	0.0%
	CNA	C	0.0%
	HAS	B	0.0%
	UA	D	0.0%
	WOLF	F	0.0%
	EXEL	C	0.0%
	DV	F	0.0%

VONV Underweight 41 Positions Relative to SPUS

	Symbol	Grade	Weight
	AAPL	C	-10.67%
	MSFT	C	-10.64%
	NVDA	D	-9.74%
	AMZN	C	-5.68%
	META	B	-3.82%
	GOOGL	D	-3.08%
	GOOG	D	-2.57%
	LLY	C	-2.45%
	AVGO	C	-2.43%
	TSLA	C	-2.12%
	MRK	D	-0.98%
	ADBE	F	-0.8%
	NOW	B	-0.6%
	ISRG	B	-0.58%
	UBER	C	-0.5%
	PANW	D	-0.37%
	LRCX	F	-0.33%
	KLAC	D	-0.33%
	ANET	B	-0.3%
	SNPS	D	-0.25%
	WM	D	-0.25%
	CDNS	D	-0.24%
	ADSK	C	-0.19%
	NXPI	F	-0.19%
	ABNB	D	-0.17%
	MPWR	C	-0.15%
	TEL	D	-0.15%
	IDXX	C	-0.14%
	IT	B	-0.13%
	ODFL	D	-0.11%
	LULU	D	-0.1%
	TSCO	C	-0.1%
	DXCM	F	-0.09%
	SMCI	F	-0.08%
	DECK	C	-0.08%
	CLX	C	-0.07%
	EXPE	C	-0.06%
	ROL	C	-0.05%
	ENPH	D	-0.05%
	PODD	B	-0.05%
	POOL	C	-0.04%

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 Beverage Biotechnology Dow Jones Component Plastic

SPUS: Top Represented Industries & Keywords

Industries: Diversified Industrials Software - Application Semiconductors Diagnostics & Research Specialty Retail Medical Devices Household & Personal Products Medical Instruments & Supplies Drug Manufacturers - Major Oil & Gas E&P Information Technology Services Semiconductor Equipment & Materials Specialty Chemicals Building Materials Electronic Components Integrated Shipping & Logistics Internet Content & Information Packaged Foods REIT - Residential Railroads

Keywords: S&P 500 Nasdaq 100 Computing Semiconductor Electronics Medicine Chemical Natural Gas Aerospace Building Materials Dow Jones Component Integrated Circuits Mining Oil And Gas Telecommunications Transport Mobile Devices Plastic Refrigeration Software