VONV vs. VCLT ETF Comparison

Comparison of Vanguard Russell 1000 Value ETF (VONV) to Vanguard Long-Term Corporate Bond ETF (VCLT)

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

VCLT

Vanguard Long-Term Corporate Bond ETF

VCLT Description

The investment seeks to track the performance of a market-weighted corporate bond index with a long-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 10+ Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities greater than 10 years. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$82.19

Average Daily Volume

2,273,206

Number of Holdings ^*

339

* may have additional holdings in another (foreign) market

Performance

Period	VONV	VCLT
30 Days	2.85%	3.51%
60 Days	3.60%	6.94%
90 Days	7.59%	7.24%
12 Months	21.11%	16.58%

288 Overlapping Holdings

	Symbol	Grade	Weight in VONV	Weight in VCLT	Overlap
	AAL	D	0.03%	0.03%	0.03%
	ABBV	B	0.76%	0.03%	0.03%
	ABT	B	0.75%	0.03%	0.03%
	ACGL	A	0.14%	0.01%	0.01%
	ADC	B	0.03%	0.01%	0.01%
	ADI	D	0.47%	0.02%	0.02%
	ADM	D	0.13%	0.01%	0.01%
	AEE	A	0.09%	0.01%	0.01%
	AEP	A	0.21%	0.01%	0.01%
	AES	C	0.05%	0.01%	0.01%
	AFG	B	0.04%	0.02%	0.02%
	AFL	B	0.22%	0.02%	0.02%
	AGO	C	0.02%	0.01%	0.01%
	AIG	D	0.22%	0.01%	0.01%
	AJG	A	0.23%	0.02%	0.02%
	ALB	D	0.04%	0.01%	0.01%
	ALL	A	0.16%	0.01%	0.01%
	ALLY	F	0.04%	0.03%	0.03%
	AMAT	D	0.06%	0.03%	0.03%
	AMGN	B	0.16%	0.01%	0.01%
	AMH	B	0.05%	0.01%	0.01%
	AON	B	0.26%	0.01%	0.01%
	APD	B	0.24%	0.03%	0.03%
	APTV	F	0.08%	0.01%	0.01%
	ARE	B	0.08%	0.01%	0.01%
	ATO	A	0.08%	0.01%	0.01%
	AVB	B	0.12%	0.01%	0.01%
	AVY	B	0.04%	0.02%	0.02%
	AWK	A	0.11%	0.01%	0.01%
	AXP	B	0.37%	0.06%	0.06%
	BA	F	0.38%	0.01%	0.01%
	BAC	D	1.12%	0.02%	0.02%
	BAX	C	0.07%	0.02%	0.02%
	BDX	D	0.29%	0.01%	0.01%
	BEN	D	0.03%	0.01%	0.01%
	BHF	F	0.01%	0.04%	0.01%
	BIIB	F	0.13%	0.05%	0.05%
	BMY	C	0.4%	0.03%	0.03%
	BSX	B	0.44%	0.01%	0.01%
	BWA	F	0.03%	0.01%	0.01%
	BXP	A	0.05%	0.01%	0.01%
	C	D	0.51%	0.01%	0.01%
	CACC	F	0.01%	0.01%	0.01%
	CACC	F	0.0%	0.01%	0.0%
	CAG	B	0.06%	0.05%	0.05%
	CAH	B	0.04%	0.01%	0.01%
	CARR	A	0.19%	0.06%	0.06%
	CAT	C	0.6%	0.01%	0.01%
	CB	B	0.46%	0.03%	0.03%
	CCI	B	0.2%	0.02%	0.02%
	CF	C	0.06%	0.03%	0.03%
	CFG	C	0.08%	0.03%	0.03%
	CHD	B	0.1%	0.02%	0.02%
	CHTR	D	0.15%	0.03%	0.03%
	CI	B	0.36%	0.02%	0.02%
	CINF	B	0.08%	0.02%	0.02%
	CL	C	0.15%	0.02%	0.02%
	CMCSA	D	0.66%	0.01%	0.01%
	CME	B	0.29%	0.03%	0.03%
	CMI	C	0.16%	0.02%	0.02%
	CMS	A	0.08%	0.01%	0.01%
	CNP	C	0.07%	0.01%	0.01%
	COP	F	0.53%	0.02%	0.02%
	CPB	B	0.04%	0.02%	0.02%
	CPT	B	0.05%	0.03%	0.03%
	CRM	D	0.15%	0.05%	0.05%
	CSCO	C	0.81%	0.07%	0.07%
	CSX	D	0.28%	0.01%	0.01%
	CVS	D	0.31%	0.01%	0.01%
	CVX	D	1.13%	0.02%	0.02%
	D	B	0.18%	0.01%	0.01%
	DD	B	0.14%	0.07%	0.07%
	DE	B	0.39%	0.02%	0.02%
	DELL	D	0.1%	0.11%	0.1%
	DG	F	0.11%	0.03%	0.03%
	DHR	B	0.75%	0.02%	0.02%
	DIS	D	0.71%	0.01%	0.01%
	DOC	B	0.06%	0.01%	0.01%
	DOV	B	0.1%	0.01%	0.01%
	DOW	F	0.16%	0.02%	0.02%
	DRI	C	0.03%	0.01%	0.01%
	DTE	A	0.1%	0.01%	0.01%
	DUK	B	0.35%	0.01%	0.01%
	DVN	F	0.12%	0.03%	0.03%
	EA	C	0.17%	0.01%	0.01%
	EBAY	A	0.12%	0.03%	0.03%
	ECL	A	0.03%	0.02%	0.02%
	ED	B	0.14%	0.01%	0.01%
	EG	B	0.06%	0.02%	0.02%
	EIX	B	0.12%	0.01%	0.01%
	EL	F	0.06%	0.01%	0.01%
	EMN	A	0.05%	0.02%	0.02%
	EMR	D	0.27%	0.01%	0.01%
	EOG	D	0.3%	0.01%	0.01%
	EQIX	B	0.29%	0.01%	0.01%
	EQR	B	0.11%	0.01%	0.01%
	ES	B	0.09%	0.02%	0.02%
	ESS	A	0.07%	0.01%	0.01%
	ETN	C	0.5%	0.01%	0.01%
	ETR	A	0.1%	0.01%	0.01%
	EVRG	A	0.05%	0.01%	0.01%
	EXC	A	0.15%	0.01%	0.01%
	EXR	A	0.14%	0.01%	0.01%
	FANG	F	0.15%	0.03%	0.03%
	FDX	C	0.28%	0.01%	0.01%
	FE	B	0.1%	0.02%	0.02%
	FIS	A	0.18%	0.02%	0.02%
	FITB	B	0.12%	0.07%	0.07%
	FMC	C	0.03%	0.02%	0.02%
	FNF	B	0.06%	0.01%	0.01%
	FOXA	C	0.04%	0.07%	0.04%
	FRT	B	0.04%	0.01%	0.01%
	FTV	C	0.1%	0.03%	0.03%
	GD	B	0.33%	0.01%	0.01%
	GE	A	0.6%	0.02%	0.02%
	GILD	B	0.39%	0.02%	0.02%
	GIS	B	0.16%	0.01%	0.01%
	GLW	C	0.13%	0.01%	0.01%
	GM	C	0.21%	0.01%	0.01%
	GPN	C	0.11%	0.04%	0.04%
	GS	D	0.48%	0.01%	0.01%
	GWW	B	0.02%	0.02%	0.02%
	HAL	F	0.13%	0.02%	0.02%
	HAS	B	0.0%	0.01%	0.0%
	HCA	A	0.22%	0.06%	0.06%
	HD	B	0.3%	0.01%	0.01%
	HES	F	0.06%	0.02%	0.02%
	HIG	B	0.13%	0.01%	0.01%
	HIW	A	0.01%	0.01%	0.01%
	HOG	C	0.02%	0.02%	0.02%
	HON	D	0.46%	0.01%	0.01%
	HPE	F	0.11%	0.04%	0.04%
	HPQ	D	0.11%	0.06%	0.06%
	HRL	C	0.04%	0.02%	0.02%
	HSY	B	0.1%	0.01%	0.01%
	HUM	F	0.18%	0.01%	0.01%
	IBM	A	0.72%	0.02%	0.02%
	ICE	B	0.35%	0.02%	0.02%
	IDA	B	0.02%	0.01%	0.01%
	IFF	B	0.1%	0.01%	0.01%
	INGR	B	0.03%	0.01%	0.01%
	INTC	F	0.54%	0.03%	0.03%
	IP	B	0.07%	0.01%	0.01%
	IPG	C	0.05%	0.01%	0.01%
	ITW	B	0.19%	0.03%	0.03%
	IVZ	C	0.03%	0.02%	0.02%
	JCI	B	0.17%	0.01%	0.01%
	JEF	B	0.03%	0.01%	0.01%
	JNJ	B	1.56%	0.02%	0.02%
	JNPR	B	0.05%	0.04%	0.04%
	JPM	D	2.5%	0.01%	0.01%
	K	A	0.06%	0.02%	0.02%
	KDP	B	0.15%	0.01%	0.01%
	KIM	B	0.06%	0.01%	0.01%
	KMB	C	0.11%	0.01%	0.01%
	KMI	B	0.17%	0.01%	0.01%
	KO	B	0.45%	0.01%	0.01%
	KR	B	0.15%	0.01%	0.01%
	KRC	C	0.02%	0.01%	0.01%
	KSS	F	0.01%	0.02%	0.01%
	L	C	0.06%	0.04%	0.04%
	LEA	F	0.03%	0.03%	0.03%
	LHX	C	0.18%	0.02%	0.02%
	LIN	B	0.89%	0.04%	0.04%
	LMT	B	0.32%	0.01%	0.01%
	LNC	D	0.02%	0.02%	0.02%
	LNT	A	0.06%	0.01%	0.01%
	LOW	B	0.58%	0.01%	0.01%
	LYB	F	0.11%	0.01%	0.01%
	MAA	A	0.07%	0.01%	0.01%
	MAR	D	0.22%	0.03%	0.03%
	MAS	B	0.07%	0.01%	0.01%
	MCD	B	0.73%	0.01%	0.01%
	MDLZ	B	0.38%	0.03%	0.03%
	MDT	B	0.44%	0.08%	0.08%
	MET	B	0.19%	0.02%	0.02%
	MKC	B	0.08%	0.02%	0.02%
	MKL	C	0.07%	0.01%	0.01%
	MLM	D	0.14%	0.03%	0.03%
	MMC	A	0.39%	0.01%	0.01%
	MMM	A	0.24%	0.01%	0.01%
	MO	C	0.35%	0.01%	0.01%
	MOS	F	0.04%	0.02%	0.02%
	MPC	F	0.26%	0.02%	0.02%
	MRO	D	0.07%	0.01%	0.01%
	MS	D	0.46%	0.05%	0.05%
	MSI	B	0.14%	0.02%	0.02%
	NDAQ	B	0.11%	0.02%	0.02%
	NEE	B	0.64%	0.01%	0.01%
	NEM	B	0.23%	0.04%	0.04%
	NI	A	0.06%	0.02%	0.02%
	NKE	D	0.14%	0.01%	0.01%
	NNN	B	0.03%	0.01%	0.01%
	NOC	B	0.28%	0.02%	0.02%
	NOV	F	0.03%	0.03%	0.03%
	NSC	C	0.23%	0.01%	0.01%
	NUE	D	0.16%	0.01%	0.01%
	O	B	0.2%	0.02%	0.02%
	OC	C	0.07%	0.01%	0.01%
	OGE	B	0.03%	0.01%	0.01%
	OHI	B	0.04%	0.03%	0.03%
	OKE	A	0.2%	0.01%	0.01%
	ORI	B	0.04%	0.03%	0.03%
	OTIS	C	0.16%	0.02%	0.02%
	PCG	B	0.16%	0.01%	0.01%
	PEG	A	0.16%	0.01%	0.01%
	PEP	B	0.2%	0.02%	0.02%
	PFE	C	0.71%	0.02%	0.02%
	PFG	C	0.08%	0.01%	0.01%
	PG	A	1.21%	0.01%	0.01%
	PGR	B	0.08%	0.01%	0.01%
	PH	B	0.29%	0.02%	0.02%
	PHM	B	0.11%	0.01%	0.01%
	PKG	B	0.07%	0.03%	0.03%
	PLD	B	0.48%	0.01%	0.01%
	PM	B	0.73%	0.02%	0.02%
	PNW	A	0.04%	0.01%	0.01%
	PPL	A	0.09%	0.01%	0.01%
	PRU	C	0.18%	0.01%	0.01%
	PSX	F	0.25%	0.03%	0.03%
	PWR	C	0.11%	0.02%	0.02%
	PYPL	B	0.28%	0.03%	0.03%
	QCOM	D	0.05%	0.02%	0.02%
	REG	B	0.05%	0.01%	0.01%
	REGN	C	0.42%	0.02%	0.02%
	RF	C	0.08%	0.01%	0.01%
	RJF	C	0.09%	0.03%	0.03%
	ROK	D	0.12%	0.02%	0.02%
	RPM	B	0.05%	0.03%	0.03%
	RPRX	C	0.05%	0.03%	0.03%
	RSG	B	0.16%	0.01%	0.01%
	RTX	C	0.64%	0.02%	0.02%
	SBUX	C	0.08%	0.01%	0.01%
	SCHW	D	0.36%	0.02%	0.02%
	SHW	A	0.03%	0.01%	0.01%
	SJM	C	0.05%	0.01%	0.01%
	SNA	B	0.06%	0.01%	0.01%
	SO	A	0.38%	0.01%	0.01%
	SPG	B	0.15%	0.01%	0.01%
	SPGI	A	0.62%	0.03%	0.03%
	SRE	B	0.21%	0.01%	0.01%
	STE	B	0.1%	0.03%	0.03%
	STLD	F	0.08%	0.02%	0.02%
	STZ	C	0.16%	0.02%	0.02%
	SWK	B	0.07%	0.02%	0.02%
	SYK	B	0.34%	0.02%	0.02%
	SYY	C	0.06%	0.01%	0.01%
	T	A	0.57%	0.01%	0.01%
	TAP	C	0.04%	0.05%	0.04%
	TGT	C	0.29%	0.02%	0.02%
	TJX	B	0.21%	0.04%	0.04%
	TMO	B	0.96%	0.01%	0.01%
	TMUS	A	0.36%	0.03%	0.03%
	TRV	A	0.2%	0.01%	0.01%
	TSN	C	0.07%	0.02%	0.02%
	TT	A	0.2%	0.01%	0.01%
	TXN	D	0.67%	0.02%	0.02%
	UAL	C	0.06%	0.01%	0.01%
	UDR	B	0.05%	0.01%	0.01%
	UNH	C	2.02%	0.01%	0.01%
	UNM	B	0.05%	0.01%	0.01%
	UNP	B	0.32%	0.01%	0.01%
	UPS	D	0.39%	0.02%	0.02%
	VLO	F	0.22%	0.03%	0.03%
	VMC	D	0.11%	0.01%	0.01%
	VMI	D	0.02%	0.02%	0.02%
	VOYA	A	0.03%	0.01%	0.01%
	VTR	B	0.09%	0.01%	0.01%
	VTRS	C	0.06%	0.03%	0.03%
	VZ	A	0.7%	0.01%	0.01%
	WBA	F	0.03%	0.04%	0.03%
	WEC	B	0.11%	0.01%	0.01%
	WELL	B	0.27%	0.01%	0.01%
	WFC	F	0.85%	0.01%	0.01%
	WHR	D	0.02%	0.02%	0.02%
	WLK	D	0.02%	0.01%	0.01%
	WMB	A	0.21%	0.01%	0.01%
	WMT	B	1.22%	0.02%	0.02%
	WPC	B	0.05%	0.02%	0.02%
	WRB	C	0.07%	0.01%	0.01%
	WTRG	D	0.04%	0.02%	0.02%
	WU	F	0.01%	0.03%	0.01%
	WY	C	0.09%	0.07%	0.07%
	XEL	B	0.13%	0.01%	0.01%
	XOM	D	2.18%	0.02%	0.02%
	XYL	D	0.13%	0.02%	0.02%
	ZBH	D	0.09%	0.02%	0.02%
	ZTS	B	0.06%	0.01%	0.01%

VONV Overweight 550 Positions Relative to VCLT

	Symbol	Grade	Weight
	BRK.A	C	3.29%
	ACN	C	0.85%
	BLK	A	0.53%
	MU	F	0.5%
	ELV	B	0.43%
	AMD	D	0.32%
	USB	C	0.29%
	PNC	B	0.29%
	SLB	F	0.28%
	FCX	D	0.27%
	VRTX	C	0.26%
	ROP	B	0.24%
	KKR	B	0.24%
	TFC	D	0.24%
	TDG	B	0.23%
	COF	D	0.23%
	MRVL	C	0.22%
	DHI	B	0.22%
	CEG	C	0.21%
	PCAR	D	0.21%
	DLR	A	0.2%
	GEV	B	0.2%
	BK	A	0.2%
	MCK	F	0.19%
	MCHP	D	0.19%
	LEN	B	0.18%
	IR	D	0.17%
	CNC	C	0.17%
	A	C	0.17%
	F	D	0.17%
	URI	C	0.16%
	MRNA	F	0.16%
	BKR	D	0.16%
	OXY	F	0.16%
	CTVA	B	0.16%
	IQV	C	0.16%
	PSA	A	0.16%
	AME	D	0.16%
	KVUE	B	0.15%
	DFS	C	0.15%
	ROST	C	0.15%
	HWM	B	0.15%
	CTSH	B	0.15%
	ON	D	0.14%
	CBRE	B	0.14%
	KHC	C	0.13%
	CSGP	D	0.13%
	APH	D	0.13%
	MTD	D	0.13%
	VICI	B	0.13%
	GEHC	C	0.13%
	WAB	B	0.12%
	MTB	B	0.12%
	WTW	B	0.12%
	PPG	C	0.12%
	EW	D	0.12%
	HLT	B	0.11%
	PAYX	B	0.11%
	GRMN	D	0.11%
	ANSS	D	0.11%
	EFX	B	0.11%
	DAL	C	0.11%
	SBAC	B	0.1%
	MSTR	D	0.1%
	RCL	B	0.1%
	KEYS	C	0.1%
	FCNCA	D	0.1%
	TROW	D	0.1%
	TTWO	D	0.1%
	NVR	B	0.1%
	STT	B	0.1%
	WBD	D	0.09%
	HUBB	B	0.09%
	DLTR	F	0.09%
	HBAN	B	0.09%
	INVH	B	0.09%
	WDC	D	0.09%
	RMD	B	0.09%
	FSLR	D	0.09%
	YUM	B	0.09%
	BBY	B	0.08%
	HOLX	B	0.08%
	OMC	B	0.08%
	EQT	D	0.08%
	CTRA	F	0.08%
	CBOE	B	0.08%
	LDOS	B	0.08%
	ILMN	C	0.08%
	TDY	B	0.08%
	SQ	D	0.08%
	BALL	C	0.08%
	SYF	D	0.08%
	GPC	D	0.08%
	LNG	C	0.08%
	BMRN	F	0.07%
	LUV	C	0.07%
	APO	C	0.07%
	TRU	A	0.07%
	CCL	C	0.07%
	WSO	C	0.07%
	CSL	C	0.07%
	RS	D	0.07%
	MSCI	C	0.07%
	TXT	D	0.07%
	NTRS	B	0.07%
	AVTR	B	0.07%
	J	D	0.07%
	SWKS	F	0.07%
	BLDR	C	0.07%
	RIVN	F	0.06%
	HOOD	C	0.06%
	UTHR	C	0.06%
	BLD	D	0.06%
	ZBRA	C	0.06%
	NDSN	C	0.06%
	GGG	C	0.06%
	JBHT	D	0.06%
	NTAP	D	0.06%
	VLTO	B	0.06%
	PNR	A	0.06%
	THC	B	0.06%
	CDW	D	0.06%
	RBA	B	0.06%
	EXPD	D	0.06%
	AKAM	D	0.06%
	RGA	B	0.06%
	TOL	B	0.06%
	BG	F	0.06%
	KEY	B	0.06%
	ZM	C	0.06%
	AMCR	B	0.06%
	VRSN	D	0.06%
	SUI	B	0.06%
	SSNC	A	0.06%
	IEX	D	0.06%
	DGX	B	0.06%
	LKQ	D	0.05%
	HII	D	0.05%
	DKS	D	0.05%
	EPAM	D	0.05%
	CW	B	0.05%
	APA	F	0.05%
	INCY	C	0.05%
	SCI	A	0.05%
	SW	B	0.05%
	QRVO	F	0.05%
	BJ	D	0.05%
	ITT	C	0.05%
	CE	D	0.05%
	CASY	C	0.05%
	FFIV	A	0.05%
	ALLE	A	0.05%
	NVT	D	0.05%
	RNR	B	0.05%
	EWBC	D	0.05%
	JBL	D	0.05%
	HST	D	0.05%
	ACM	B	0.05%
	CLH	B	0.05%
	KMX	D	0.05%
	UHS	B	0.05%
	IBKR	B	0.05%
	JKHY	A	0.05%
	OVV	F	0.05%
	USFD	A	0.05%
	CRL	D	0.05%
	FTI	D	0.05%
	ELS	B	0.05%
	TECH	D	0.05%
	IRM	A	0.05%
	GLPI	B	0.05%
	TRMB	C	0.05%
	BRO	B	0.05%
	MHK	B	0.04%
	CZR	D	0.04%
	GL	C	0.04%
	APG	D	0.04%
	NYT	C	0.04%
	WAL	B	0.04%
	PRI	B	0.04%
	WST	F	0.04%
	NTNX	C	0.04%
	SF	B	0.04%
	TTEK	B	0.04%
	EGP	B	0.04%
	ARMK	B	0.04%
	EVR	B	0.04%
	SNX	D	0.04%
	DCI	D	0.04%
	PFGC	B	0.04%
	RGLD	B	0.04%
	AIZ	C	0.04%
	CVNA	B	0.04%
	FHN	C	0.04%
	X	D	0.04%
	GPK	A	0.04%
	TPR	C	0.04%
	HSIC	D	0.04%
	EHC	B	0.04%
	COHR	C	0.04%
	WWD	D	0.04%
	CNH	C	0.04%
	NRG	C	0.04%
	DPZ	D	0.04%
	ATR	A	0.04%
	QGEN	B	0.04%
	TTC	D	0.04%
	CHK	D	0.04%
	DOX	C	0.04%
	MTCH	C	0.04%
	FDS	C	0.04%
	CACI	B	0.04%
	CHRW	C	0.04%
	AOS	D	0.04%
	CCK	A	0.04%
	TFX	B	0.04%
	NWSA	D	0.04%
	MGM	D	0.04%
	EME	A	0.04%
	CHRD	F	0.04%
	CUBE	A	0.04%
	RRX	C	0.04%
	CTLT	B	0.04%
	REXR	C	0.04%
	CG	D	0.04%
	GME	F	0.03%
	KD	D	0.03%
	ROKU	C	0.03%
	XP	D	0.03%
	DAR	F	0.03%
	SAIC	B	0.03%
	FAST	C	0.03%
	ELAN	D	0.03%
	AFRM	C	0.03%
	HRB	C	0.03%
	PB	B	0.03%
	LFUS	D	0.03%
	BIO	C	0.03%
	FND	C	0.03%
	SOFI	C	0.03%
	RHI	D	0.03%
	CROX	C	0.03%
	BPOP	C	0.03%
	GXO	D	0.03%
	MAT	C	0.03%
	MTG	B	0.03%
	FLS	D	0.03%
	ARW	C	0.03%
	MTDR	F	0.03%
	BRBR	C	0.03%
	GWRE	A	0.03%
	JAZZ	D	0.03%
	COKE	C	0.03%
	FTNT	B	0.03%
	RL	B	0.03%
	LSTR	D	0.03%
	SNV	C	0.03%
	SEIC	C	0.03%
	CFR	C	0.03%
	MTZ	B	0.03%
	PARA	F	0.03%
	AGNC	A	0.03%
	WEX	C	0.03%
	ONTO	D	0.03%
	MSA	D	0.03%
	CRUS	D	0.03%
	WTFC	C	0.03%
	HLI	A	0.03%
	SWN	D	0.03%
	COIN	F	0.03%
	OSK	D	0.03%
	KEX	C	0.03%
	GNTX	F	0.03%
	FYBR	C	0.03%
	ALGN	D	0.03%
	BWXT	D	0.03%
	MIDD	D	0.03%
	FR	B	0.03%
	CMA	B	0.03%
	PNFP	B	0.03%
	WMS	D	0.03%
	MOH	C	0.03%
	DTM	B	0.03%
	SSD	C	0.03%
	STAG	B	0.03%
	RRC	D	0.03%
	TKO	B	0.03%
	ZION	D	0.03%
	LAD	C	0.03%
	CRBG	D	0.03%
	PR	D	0.03%
	CIEN	C	0.03%
	CHE	C	0.03%
	BERY	B	0.03%
	WCC	D	0.03%
	BRX	B	0.03%
	FCN	C	0.03%
	BKNG	B	0.03%
	CBSH	B	0.03%
	WAT	C	0.03%
	ALSN	B	0.03%
	AYI	B	0.03%
	ADP	A	0.03%
	MNST	C	0.03%
	LAMR	A	0.03%
	WYNN	D	0.03%
	AXTA	C	0.03%
	CR	C	0.03%
	TW	A	0.03%
	DAY	C	0.03%
	MKSI	F	0.03%
	RGEN	F	0.03%
	OKTA	F	0.03%
	WSM	C	0.03%
	SKX	C	0.03%
	GMED	D	0.03%
	CGNX	D	0.03%
	KBR	D	0.03%
	SOLV	C	0.03%
	LECO	D	0.03%
	JLL	B	0.03%
	MKTX	C	0.03%
	TWLO	D	0.03%
	RBC	D	0.03%
	BBWI	F	0.03%
	PTC	D	0.03%
	AA	D	0.03%
	ACI	D	0.03%
	DINO	F	0.03%
	ATI	D	0.03%
	AR	D	0.03%
	WBS	D	0.03%
	COLD	D	0.03%
	KNX	C	0.03%
	LSXMK	D	0.02%
	MAN	D	0.02%
	AMKR	D	0.02%
	DXC	C	0.02%
	SPR	D	0.02%
	AAP	F	0.02%
	NEU	C	0.02%
	AMP	B	0.02%
	AWI	C	0.02%
	CPRI	D	0.02%
	GTES	C	0.02%
	PRGO	C	0.02%
	BILL	D	0.02%
	FRPT	B	0.02%
	UHAL	B	0.02%
	KMPR	D	0.02%
	HUN	D	0.02%
	COTY	D	0.02%
	IAC	C	0.02%
	MSM	D	0.02%
	SN	B	0.02%
	DBX	D	0.02%
	SITE	D	0.02%
	CUZ	B	0.02%
	PSN	B	0.02%
	BYD	C	0.02%
	ZG	B	0.02%
	FLO	C	0.02%
	SLGN	B	0.02%
	PII	D	0.02%
	S	C	0.02%
	EEFT	F	0.02%
	WTM	D	0.02%
	RYN	C	0.02%
	SAIA	D	0.02%
	DLB	D	0.02%
	FOX	C	0.02%
	GNRC	D	0.02%
	AZO	C	0.02%
	ALK	C	0.02%
	GAP	F	0.02%
	M	D	0.02%
	JHG	B	0.02%
	AVT	D	0.02%
	ASH	D	0.02%
	CLF	F	0.02%
	DASH	C	0.02%
	THG	A	0.02%
	AN	D	0.02%
	SLM	D	0.02%
	OZK	D	0.02%
	GFS	F	0.02%
	W	D	0.02%
	EXAS	C	0.02%
	CIVI	F	0.02%
	ORLY	B	0.02%
	OLED	C	0.02%
	AL	D	0.02%
	UGI	B	0.02%
	SEE	D	0.02%
	VNO	A	0.02%
	SON	C	0.02%
	NFG	A	0.02%
	WSC	D	0.02%
	POST	C	0.02%
	THO	C	0.02%
	SRCL	A	0.02%
	WH	B	0.02%
	OLN	D	0.02%
	COLB	C	0.02%
	FNB	D	0.02%
	MDU	B	0.02%
	HXL	F	0.02%
	BC	D	0.02%
	H	D	0.02%
	XRAY	D	0.02%
	TKR	D	0.02%
	OGN	C	0.02%
	MTSI	D	0.02%
	ESAB	C	0.02%
	Z	B	0.02%
	ST	F	0.02%
	PVH	D	0.02%
	RLI	B	0.02%
	LW	D	0.02%
	AGCO	D	0.02%
	AXS	B	0.02%
	BFAM	B	0.02%
	FICO	A	0.02%
	OMF	D	0.02%
	ACHC	C	0.02%
	STWD	B	0.02%
	LBRDK	D	0.02%
	AMG	C	0.02%
	VFC	C	0.02%
	OLLI	C	0.02%
	ESI	D	0.02%
	R	B	0.02%
	FAF	A	0.02%
	VNT	D	0.02%
	G	B	0.02%
	DDS	D	0.01%
	AMC	D	0.01%
	SNDR	B	0.01%
	DV	F	0.01%
	LYFT	D	0.01%
	WEN	C	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%
	LEG	D	0.01%
	MP	D	0.01%
	LEN	B	0.01%
	TER	D	0.01%
	TRIP	F	0.01%
	ALGM	D	0.01%
	CERT	F	0.01%
	GO	F	0.01%
	LPX	B	0.01%
	AZEK	C	0.01%
	SAM	F	0.01%
	GLOB	D	0.01%
	RCM	C	0.01%
	HAYW	D	0.01%
	BROS	D	0.01%
	BR	B	0.01%
	CRI	C	0.01%
	MASI	D	0.01%
	FTRE	F	0.01%
	PSTG	D	0.01%
	RKT	B	0.01%
	EXP	A	0.01%
	VIRT	B	0.01%
	ADTN	F	0.01%
	QS	F	0.01%
	JWN	C	0.01%
	IPGP	F	0.01%
	HHH	C	0.01%
	BIRK	D	0.01%
	ULTA	D	0.01%
	BOKF	B	0.01%
	WOLF	F	0.01%
	YETI	D	0.01%
	SPB	B	0.01%
	PINC	C	0.01%
	AGR	B	0.01%
	ENOV	F	0.01%
	BRKR	D	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%
	CWEN	A	0.01%
	CNM	F	0.01%
	NSA	A	0.01%
	LOPE	D	0.01%
	DOCS	B	0.01%
	PK	F	0.01%
	CPRT	F	0.01%
	AMED	D	0.01%
	PAYC	D	0.01%
	LCID	C	0.01%
	IRDM	D	0.01%
	TNL	F	0.01%
	FHB	C	0.01%
	PAG	D	0.01%
	TPG	B	0.01%
	NWS	D	0.01%
	DNB	C	0.01%
	SMG	C	0.01%
	CC	F	0.01%
	CNXC	D	0.01%
	CTAS	B	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%
	NXST	D	0.01%
	ZI	D	0.01%
	NWL	C	0.01%
	TYL	B	0.01%
	UHAL	B	0.0%
	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%
	SEB	C	0.0%
	LSCC	D	0.0%
	NCNO	F	0.0%
	CAR	F	0.0%
	CNA	C	0.0%
	UA	C	0.0%
	MTN	D	0.0%
	EXEL	A	0.0%

VONV Underweight 52 Positions Relative to VCLT

	Symbol	Grade	Weight
	WIT	C	-0.21%
	EQH	C	-0.09%
	COST	B	-0.06%
	SCCO	D	-0.05%
	AMZN	C	-0.05%
	NXPI	F	-0.04%
	DT	C	-0.04%
	GOOGL	D	-0.04%
	BHP	D	-0.04%
	AVGO	C	-0.04%
	ORCL	B	-0.04%
	AAPL	D	-0.04%
	WRK	C	-0.03%
	WM	D	-0.03%
	LH	B	-0.03%
	AMT	B	-0.03%
	NVDA	D	-0.03%
	MUFG	D	-0.03%
	MPLX	B	-0.03%
	PECO	B	-0.02%
	OGS	A	-0.02%
	SBRA	A	-0.02%
	TEL	D	-0.02%
	NWE	A	-0.02%
	PAA	C	-0.02%
	LRCX	F	-0.02%
	KLAC	D	-0.02%
	VRSK	D	-0.02%
	MCO	B	-0.02%
	CP	B	-0.02%
	EPD	A	-0.02%
	MA	A	-0.02%
	AZN	D	-0.02%
	HSBC	B	-0.02%
	VOD	A	-0.02%
	GSK	C	-0.02%
	V	A	-0.02%
	AVA	B	-0.01%
	LXP	B	-0.01%
	OPI	F	-0.01%
	JD	F	-0.01%
	SIGI	C	-0.01%
	EE	C	-0.01%
	BKH	A	-0.01%
	SWX	C	-0.01%
	KOF	D	-0.01%
	LLY	C	-0.01%
	JBLU	D	-0.01%
	ET	B	-0.01%
	MRK	D	-0.01%
	BABA	C	-0.01%
	MSFT	C	-0.01%

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

VCLT: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Drug Manufacturers - Major Insurance - Property & Casualty Utilities - Diversified Diversified Industrials Packaged Foods REIT - Retail Specialty Chemicals Insurance - Life Oil & Gas Midstream REIT - Residential Semiconductors Banks - Global Capital Markets Credit Services Oil & Gas E&P Aerospace & Defense Communication Equipment Household & Personal Products Insurance - Diversified

Keywords: S&P 500 Natural Gas Nasdaq 100 Electricity Insurance Dow Jones Component Real Estate Investment Trust Insurance Products Chemical Bank Computing Electronics Petroleum Industry Crude Oil Disability Medicine Financial Products Mining Natural Gas Storage Plastic