VTWG vs. QVMS ETF Comparison

Comparison of Vanguard Russell 2000 Growth ETF (VTWG) to Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS)

VTWG

Vanguard Russell 2000 Growth ETF

VTWG Description

The investment seeks to track the performance of a benchmark index that measures the investment return of small-capitalization growth stocks in the United States. The fund employs an indexing investment approach designed to track the performance of the Russell 2000Â® Growth Index. The index is designed to measure the performance of small-capitalization growth 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

$204.25

Average Daily Volume

41,987

Number of Holdings ^*

969

* may have additional holdings in another (foreign) market

QVMS

Invesco S&P SmallCap 600 QVM Multi-factor ETF

QVMS Description

The investment seeks to track the investment results of the S&P SmallCap 600 Â® Quality, Value & Momentum Top 90% Multi- Factor Index (the âunderlying indexâ). The fund will invest at least 90% of its total assets in the securities that comprise the index. S&P Dow Jones Indices LLC compiles, maintains and calculates the index, designed to track the performance of a subset of securities from the S&P SmallCap 600 Â® Index that exhibit the investment style criteria of quality, value and momentum. The index is composed of securities with multi-factor scores representing the top 90% of the parent index, as determined by the index provider. It is non-diversified.

Grade (RS Rating)

Last Trade

$26.97

Average Daily Volume

608

Number of Holdings ^*

519

* may have additional holdings in another (foreign) market

Performance

Period	VTWG	QVMS
30 Days	-0.07%	-0.51%
60 Days	5.88%	4.20%
90 Days	7.45%	9.20%
12 Months	27.59%	26.45%

253 Overlapping Holdings

Symbol	Grade	Weight in VTWG	Weight in QVMS	Overlap
ACIW	A	0.39%	0.44%	0.39%
ACLS	F	0.26%	0.3%	0.26%
ADUS	C	0.06%	0.19%	0.06%
AEIS	D	0.29%	0.34%	0.29%
AEO	C	0.22%	0.33%	0.22%
AGYS	D	0.19%	0.19%	0.19%
AHCO	B	0.04%	0.06%	0.04%
AHH	F	0.0%	0.06%	0.0%
AIN	D	0.05%	0.24%	0.05%
AIR	D	0.03%	0.17%	0.03%
ALG	D	0.14%	0.16%	0.14%
ALKS	C	0.36%	0.39%	0.36%
ALRM	F	0.21%	0.23%	0.21%
AMN	F	0.15%	0.16%	0.15%
AMR	F	0.2%	0.27%	0.2%
AMSF	B	0.03%	0.08%	0.03%
AMWD	C	0.01%	0.12%	0.01%
ANDE	D	0.01%	0.14%	0.01%
ANIP	D	0.06%	0.08%	0.06%
APAM	C	0.19%	0.25%	0.19%
APOG	B	0.03%	0.13%	0.03%
ARCB	D	0.19%	0.21%	0.19%
ARLO	F	0.08%	0.1%	0.08%
AROC	C	0.23%	0.25%	0.23%
ASO	D	0.08%	0.35%	0.08%
ASTH	B	0.15%	0.18%	0.15%
ATEN	C	0.07%	0.08%	0.07%
ATGE	C	0.04%	0.23%	0.04%
AVAV	B	0.4%	0.47%	0.4%
AWR	B	0.13%	0.24%	0.13%
AX	D	0.03%	0.28%	0.03%
AZZ	C	0.15%	0.21%	0.15%
BANF	D	0.02%	0.12%	0.02%
BCC	B	0.19%	0.48%	0.19%
BCPC	C	0.43%	0.48%	0.43%
BFS	B	0.03%	0.04%	0.03%
BJRI	D	0.02%	0.06%	0.02%
BKE	C	0.1%	0.1%	0.1%
BL	D	0.21%	0.21%	0.21%
BLFS	D	0.06%	0.08%	0.06%
BLMN	F	0.05%	0.13%	0.05%
BMI	A	0.45%	0.51%	0.45%
BOOT	B	0.29%	0.36%	0.29%
CAKE	B	0.14%	0.16%	0.14%
CAL	F	0.03%	0.1%	0.03%
CALM	A	0.01%	0.25%	0.01%
CALX	C	0.12%	0.19%	0.12%
CARG	C	0.19%	0.19%	0.19%
CASH	D	0.04%	0.14%	0.04%
CBRL	D	0.01%	0.09%	0.01%
CCOI	B	0.23%	0.25%	0.23%
CCS	C	0.03%	0.24%	0.03%
CENTA	F	0.02%	0.17%	0.02%
CENX	C	0.06%	0.07%	0.06%
CEVA	B	0.04%	0.05%	0.04%
CHCO	D	0.01%	0.14%	0.01%
CHEF	B	0.11%	0.13%	0.11%
CLB	D	0.07%	0.08%	0.07%
CNK	C	0.18%	0.22%	0.18%
CNMD	D	0.17%	0.18%	0.17%
CNS	C	0.18%	0.2%	0.18%
COLL	B	0.09%	0.1%	0.09%
COOP	C	0.16%	0.49%	0.16%
CORT	B	0.21%	0.31%	0.21%
CPRX	C	0.18%	0.18%	0.18%
CRS	B	0.51%	0.65%	0.51%
CRSR	D	0.0%	0.03%	0.0%
CRVL	C	0.21%	0.24%	0.21%
CSGS	C	0.11%	0.11%	0.11%
CTRE	B	0.02%	0.34%	0.02%
CTS	D	0.09%	0.12%	0.09%
CVCO	A	0.26%	0.27%	0.26%
CVI	F	0.06%	0.06%	0.06%
CWT	D	0.06%	0.25%	0.06%
CXM	F	0.07%	0.09%	0.07%
DFIN	D	0.08%	0.13%	0.08%
DIOD	F	0.03%	0.25%	0.03%
DORM	C	0.22%	0.26%	0.22%
DXPE	B	0.0%	0.06%	0.0%
DY	C	0.37%	0.41%	0.37%
EAT	A	0.21%	0.28%	0.21%
ENR	B	0.17%	0.18%	0.17%
ENSG	D	0.62%	0.66%	0.62%
ENV	C	0.24%	0.25%	0.24%
EPAC	C	0.17%	0.19%	0.17%
ESE	B	0.11%	0.26%	0.11%
EVTC	D	0.16%	0.18%	0.16%
EXPI	C	0.07%	0.08%	0.07%
EYE	F	0.0%	0.07%	0.0%
FBP	D	0.02%	0.3%	0.02%
FELE	B	0.35%	0.36%	0.35%
FIZZ	C	0.08%	0.09%	0.08%
FORM	F	0.28%	0.32%	0.28%
FSS	B	0.42%	0.49%	0.42%
FTDR	C	0.28%	0.3%	0.28%
FUL	F	0.1%	0.38%	0.1%
GFF	B	0.19%	0.21%	0.19%
GKOS	C	0.49%	0.54%	0.49%
GMS	D	0.23%	0.29%	0.23%
GOGO	F	0.02%	0.03%	0.02%
GRBK	B	0.05%	0.17%	0.05%
GSHD	B	0.15%	0.18%	0.15%
GVA	B	0.2%	0.28%	0.2%
HBI	B	0.17%	0.2%	0.17%
HCI	C	0.06%	0.06%	0.06%
HI	F	0.06%	0.19%	0.06%
HLIT	C	0.12%	0.14%	0.12%
HLX	D	0.02%	0.14%	0.02%
HNI	B	0.09%	0.21%	0.09%
HRMY	B	0.08%	0.1%	0.08%
HSTM	B	0.02%	0.06%	0.02%
HTLD	F	0.02%	0.04%	0.02%
HWKN	A	0.18%	0.21%	0.18%
IBP	C	0.4%	0.49%	0.4%
ICHR	F	0.02%	0.09%	0.02%
IDCC	A	0.26%	0.29%	0.26%
IIIN	F	0.02%	0.05%	0.02%
INVA	B	0.01%	0.08%	0.01%
IOSP	F	0.18%	0.24%	0.18%
IPAR	D	0.17%	0.2%	0.17%
ITGR	C	0.23%	0.35%	0.23%
ITRI	C	0.32%	0.38%	0.32%
JBSS	F	0.06%	0.07%	0.06%
JBT	B	0.01%	0.26%	0.01%
JJSF	A	0.19%	0.22%	0.19%
JOE	D	0.16%	0.17%	0.16%
KALU	D	0.08%	0.1%	0.08%
KLG	D	0.08%	0.08%	0.08%
KLIC	D	0.18%	0.22%	0.18%
KREF	C	0.01%	0.06%	0.01%
KRYS	D	0.36%	0.34%	0.34%
KTB	B	0.31%	0.33%	0.31%
KWR	D	0.18%	0.19%	0.18%
LBRT	F	0.01%	0.24%	0.01%
LCII	B	0.22%	0.25%	0.22%
LGIH	C	0.01%	0.19%	0.01%
LKFN	D	0.01%	0.14%	0.01%
LMAT	B	0.14%	0.14%	0.14%
LNN	B	0.05%	0.11%	0.05%
LPG	F	0.05%	0.1%	0.05%
LQDT	C	0.03%	0.04%	0.03%
LRN	C	0.26%	0.28%	0.26%
MARA	F	0.28%	0.4%	0.28%
MC	C	0.35%	0.4%	0.35%
MCRI	B	0.07%	0.08%	0.07%
MCW	F	0.04%	0.05%	0.04%
MCY	B	0.02%	0.15%	0.02%
MGEE	A	0.1%	0.25%	0.1%
MGPI	D	0.09%	0.11%	0.09%
MGY	C	0.3%	0.37%	0.3%
MLAB	B	0.02%	0.06%	0.02%
MLI	B	0.56%	0.69%	0.56%
MMSI	C	0.41%	0.44%	0.41%
MOG.A	B	0.42%	0.47%	0.42%
MRTN	D	0.02%	0.08%	0.02%
MSEX	C	0.01%	0.09%	0.01%
MTRN	F	0.17%	0.21%	0.17%
MYE	F	0.04%	0.05%	0.04%
MYRG	F	0.12%	0.14%	0.12%
NABL	F	0.07%	0.07%	0.07%
NBR	F	0.02%	0.05%	0.02%
NEO	F	0.01%	0.15%	0.01%
NMIH	C	0.02%	0.27%	0.02%
NOG	D	0.02%	0.29%	0.02%
NPO	C	0.03%	0.29%	0.03%
NSIT	C	0.45%	0.5%	0.45%
NVEE	F	0.02%	0.1%	0.02%
OII	D	0.2%	0.23%	0.2%
OMI	F	0.01%	0.1%	0.01%
OSIS	B	0.17%	0.19%	0.17%
OTTR	F	0.12%	0.28%	0.12%
OXM	F	0.07%	0.1%	0.07%
PAHC	C	0.01%	0.04%	0.01%
PATK	B	0.21%	0.23%	0.21%
PCRX	F	0.0%	0.06%	0.0%
PDCO	F	0.02%	0.15%	0.02%
PECO	C	0.05%	0.36%	0.05%
PIPR	C	0.35%	0.36%	0.35%
PJT	C	0.22%	0.24%	0.22%
PLAB	D	0.04%	0.14%	0.04%
PLAY	D	0.08%	0.08%	0.08%
PLMR	D	0.18%	0.2%	0.18%
PLUS	C	0.13%	0.23%	0.13%
PLXS	B	0.08%	0.3%	0.08%
POWL	A	0.12%	0.16%	0.12%
PRFT	A	0.19%	0.21%	0.19%
PRG	C	0.02%	0.17%	0.02%
PRGS	B	0.19%	0.23%	0.19%
PRVA	F	0.15%	0.16%	0.15%
PSMT	B	0.11%	0.18%	0.11%
PTGX	C	0.19%	0.2%	0.19%
QNST	C	0.07%	0.08%	0.07%
RAMP	F	0.13%	0.14%	0.13%
RCUS	F	0.07%	0.07%	0.07%
RDNT	C	0.33%	0.38%	0.33%
REX	D	0.01%	0.06%	0.01%
RGR	F	0.01%	0.06%	0.01%
ROCK	D	0.08%	0.17%	0.08%
RXO	D	0.25%	0.28%	0.25%
SAH	D	0.02%	0.08%	0.02%
SCL	D	0.01%	0.14%	0.01%
SEM	D	0.2%	0.31%	0.2%
SFBS	D	0.09%	0.33%	0.09%
SHAK	C	0.28%	0.31%	0.28%
SHOO	A	0.24%	0.27%	0.24%
SITM	B	0.2%	0.25%	0.2%
SKT	A	0.09%	0.28%	0.09%
SLP	F	0.04%	0.04%	0.04%
SLVM	C	0.04%	0.24%	0.04%
SM	F	0.07%	0.4%	0.07%
SMPL	D	0.21%	0.23%	0.21%
SNCY	D	0.02%	0.03%	0.02%
SNEX	C	0.02%	0.19%	0.02%
SONO	D	0.1%	0.13%	0.1%
SPNT	D	0.01%	0.11%	0.01%
SPSC	D	0.55%	0.59%	0.55%
SSTK	F	0.05%	0.07%	0.05%
STAA	D	0.12%	0.14%	0.12%
STEP	A	0.22%	0.25%	0.22%
SUPN	D	0.01%	0.15%	0.01%
SXI	B	0.12%	0.18%	0.12%
SXT	C	0.23%	0.28%	0.23%
TBBK	C	0.18%	0.24%	0.18%
TDW	F	0.32%	0.34%	0.32%
THRM	F	0.12%	0.13%	0.12%
THRY	F	0.04%	0.04%	0.04%
TILE	B	0.01%	0.09%	0.01%
TNC	F	0.06%	0.16%	0.06%
TPH	B	0.09%	0.35%	0.09%
TRN	C	0.18%	0.24%	0.18%
TRUP	D	0.11%	0.13%	0.11%
UCTT	D	0.12%	0.16%	0.12%
UFPT	D	0.18%	0.21%	0.18%
UHT	C	0.04%	0.05%	0.04%
URBN	F	0.05%	0.18%	0.05%
USPH	F	0.1%	0.1%	0.1%
VCEL	F	0.19%	0.2%	0.19%
VECO	F	0.12%	0.18%	0.12%
VICR	C	0.04%	0.08%	0.04%
VRRM	D	0.34%	0.37%	0.34%
VRTS	F	0.09%	0.12%	0.09%
VSCO	C	0.03%	0.18%	0.03%
VVI	C	0.05%	0.06%	0.05%
WD	C	0.19%	0.31%	0.19%
WDFC	C	0.27%	0.29%	0.27%
WERN	D	0.02%	0.19%	0.02%
WHD	B	0.29%	0.32%	0.29%
WOR	F	0.1%	0.1%	0.1%
WRLD	D	0.03%	0.03%	0.03%
WWW	B	0.08%	0.11%	0.08%
XNCR	D	0.04%	0.08%	0.04%
XPEL	D	0.08%	0.07%	0.07%
YELP	F	0.17%	0.19%	0.17%

VTWG Overweight 716 Positions Relative to QVMS

Symbol	Grade	Weight
INSM	D	0.88%
SFM	A	0.78%
FN	C	0.66%
PCVX	B	0.65%
AIT	A	0.59%
HALO	D	0.59%
FLR	D	0.58%
ANF	D	0.55%
LNTH	C	0.54%
HQY	B	0.5%
NOVT	D	0.49%
MOD	C	0.47%
CVLT	C	0.47%
CWST	D	0.46%
VRNS	C	0.46%
BPMC	F	0.45%
RHP	C	0.45%
HLNE	A	0.44%
CHX	F	0.44%
EXLS	B	0.43%
MMS	A	0.42%
CBT	B	0.42%
EXPO	B	0.41%
BECN	F	0.4%
WTS	B	0.4%
TMDX	D	0.4%
CSWI	B	0.39%
GTLS	F	0.38%
ALTR	C	0.38%
BCO	A	0.37%
TENB	F	0.36%
RMBS	F	0.36%
QLYS	F	0.35%
SIGI	D	0.35%
FFIN	D	0.35%
RNA	A	0.35%
BOX	C	0.34%
CRDO	C	0.33%
ZWS	A	0.33%
KNF	C	0.33%
MDGL	F	0.32%
ZETA	B	0.32%
QTWO	C	0.32%
HRI	B	0.31%
CRNX	D	0.31%
UFPI	B	0.31%
RVMD	B	0.31%
ADMA	B	0.29%
WK	D	0.29%
ENS	C	0.28%
DYN	D	0.28%
SLAB	D	0.28%
KAI	C	0.28%
HAE	D	0.28%
POWI	F	0.28%
PI	B	0.28%
STRL	C	0.27%
EVH	D	0.27%
BLKB	C	0.26%
CWAN	C	0.26%
AXNX	A	0.26%
CBZ	F	0.26%
OSCR	C	0.26%
MWA	B	0.25%
LANC	F	0.25%
PRCT	C	0.25%
TNET	F	0.25%
NSP	F	0.25%
FOLD	F	0.25%
ATKR	F	0.25%
IDYA	F	0.24%
AXSM	C	0.24%
UPST	C	0.24%
TGTX	C	0.24%
ICFI	C	0.23%
SGBX	F	0.23%
IOVA	F	0.22%
ACLX	C	0.22%
GH	F	0.22%
VC	F	0.21%
SQSP	A	0.21%
ACVA	C	0.21%
PRIM	C	0.21%
HIMS	C	0.21%
TNDM	D	0.21%
ROAD	C	0.21%
SMTC	C	0.21%
HGV	F	0.21%
ARWR	F	0.21%
SWTX	F	0.21%
MGRC	D	0.2%
YOU	C	0.2%
NUVL	B	0.2%
RYTM	C	0.19%
OPCH	D	0.19%
CLSK	F	0.18%
SKY	A	0.18%
FRSH	F	0.18%
BBIO	F	0.18%
VAL	F	0.18%
DOCN	C	0.18%
TWST	D	0.18%
VCTR	C	0.17%
KOS	F	0.17%
NARI	F	0.17%
BDC	B	0.17%
AUR	C	0.17%
RPD	D	0.17%
BRZE	F	0.17%
VERX	B	0.16%
MQ	F	0.16%
KYMR	C	0.16%
BE	F	0.16%
CSTM	D	0.16%
CLDX	F	0.16%
RKLB	B	0.16%
FLYW	F	0.16%
IRTC	F	0.16%
HURN	C	0.15%
STNE	F	0.15%
PGNY	F	0.15%
ACAD	F	0.15%
JOBY	F	0.15%
PTCT	C	0.15%
UEC	C	0.15%
NATL	D	0.15%
NVCR	F	0.15%
COMP	C	0.14%
AMPH	C	0.14%
GERN	D	0.14%
RXST	F	0.14%
AI	F	0.14%
GOLF	F	0.14%
SNDX	F	0.13%
MIRM	D	0.13%
PAR	D	0.13%
DNLI	C	0.13%
PDFS	F	0.13%
IMVT	F	0.13%
BCRX	D	0.13%
INTA	C	0.13%
IESC	B	0.12%
JBI	F	0.12%
PFSI	C	0.12%
OSW	C	0.12%
AGM	F	0.12%
NSSC	F	0.12%
BLBD	D	0.12%
LAUR	C	0.12%
ARVN	F	0.12%
ENVX	F	0.11%
HEES	D	0.11%
AESI	C	0.11%
ARDX	D	0.11%
NGVT	D	0.11%
PTON	D	0.11%
ALKT	D	0.11%
VERA	C	0.11%
RXRX	F	0.11%
KTOS	A	0.11%
KURA	D	0.11%
SPT	F	0.11%
MGNI	D	0.11%
LOB	C	0.1%
WRBY	C	0.1%
RRR	D	0.1%
APPN	D	0.1%
PHR	F	0.1%
JANX	D	0.1%
KROS	C	0.1%
NVAX	D	0.1%
EWTX	B	0.1%
JAMF	F	0.1%
OCUL	C	0.1%
SOUN	D	0.1%
TGLS	A	0.1%
ARQT	D	0.09%
AMRX	A	0.09%
BKD	D	0.09%
SAVA	D	0.09%
LBPH	D	0.09%
SDGR	F	0.09%
DVAX	D	0.09%
AMBA	C	0.09%
UPWK	D	0.09%
PWSC	C	0.09%
CMPR	F	0.09%
KFRC	F	0.09%
HROW	C	0.09%
RCKT	F	0.09%
INFN	C	0.09%
AGL	F	0.09%
MNKD	C	0.09%
REVG	D	0.09%
ARRY	F	0.08%
VITL	C	0.08%
MEG	F	0.08%
NRIX	D	0.08%
EXTR	D	0.08%
SILK	A	0.08%
TRNS	D	0.08%
OEC	F	0.08%
SMMT	D	0.08%
PAGS	F	0.08%
RDFN	C	0.08%
COUR	F	0.08%
ASAN	F	0.08%
FLNC	C	0.08%
SPNS	C	0.08%
CRAI	B	0.08%
MXL	F	0.08%
ZUO	F	0.08%
PZZA	D	0.08%
EOLS	B	0.07%
RVLV	C	0.07%
ALHC	C	0.07%
IMAX	D	0.07%
WLY	A	0.07%
COGT	C	0.07%
PRO	F	0.07%
ERII	C	0.07%
SHLS	F	0.07%
CWH	C	0.07%
DFH	C	0.07%
WULF	D	0.07%
CDRE	B	0.07%
DNUT	D	0.07%
ASGN	D	0.07%
JACK	F	0.07%
GPOR	B	0.07%
PDFS	F	0.07%
AGX	B	0.07%
OUT	C	0.07%
PNTG	C	0.07%
TARS	C	0.07%
VZIO	B	0.07%
MRVI	D	0.07%
HLIO	C	0.07%
ANAB	D	0.06%
UTZ	B	0.06%
ACHR	F	0.06%
BASE	F	0.06%
GSAT	F	0.06%
KBH	C	0.06%
IMNM	F	0.06%
LMND	F	0.06%
SANA	F	0.06%
ATRC	D	0.06%
UDMY	F	0.06%
GRC	B	0.06%
XMTR	D	0.06%
CECO	D	0.06%
BLND	C	0.06%
BBSI	A	0.06%
DRVN	C	0.06%
USLM	C	0.06%
HCKT	C	0.05%
ACEL	C	0.05%
FSLY	D	0.05%
CDMO	C	0.05%
EVER	D	0.05%
ACMR	D	0.05%
PAX	F	0.05%
AIV	C	0.05%
SMR	C	0.05%
SPRY	C	0.05%
DAWN	D	0.05%
PUBM	F	0.05%
LMB	C	0.05%
IBUY	A	0.05%
CGEM	F	0.05%
BSIG	C	0.05%
VRDN	B	0.05%
RVNC	D	0.05%
ZIP	D	0.05%
TTGT	F	0.05%
UTI	D	0.05%
AMSC	D	0.05%
ATEC	F	0.05%
RSI	C	0.05%
AUPH	C	0.05%
ELVN	B	0.05%
EU	D	0.04%
FDMT	F	0.04%
FLNG	D	0.04%
ALX	C	0.04%
SEMR	B	0.04%
DJCO	C	0.04%
NRDS	D	0.04%
CASS	D	0.04%
FWRG	F	0.04%
ABUS	D	0.04%
KALV	F	0.04%
SGHC	B	0.04%
STOK	D	0.04%
CGON	C	0.04%
PLOW	C	0.04%
DBRG	D	0.04%
YMAB	D	0.04%
PTLO	C	0.04%
HUMA	D	0.04%
YEXT	B	0.04%
TREE	C	0.04%
NEXT	F	0.04%
ARHS	F	0.04%
HLF	F	0.04%
LQDA	F	0.04%
SIBN	F	0.04%
PRTA	F	0.04%
OSPN	C	0.04%
AXGN	B	0.04%
EVRI	B	0.04%
CCB	C	0.04%
SRRK	F	0.04%
NNBR	C	0.04%
IMXI	D	0.04%
FA	A	0.04%
TPB	B	0.04%
LPRO	D	0.04%
IE	D	0.04%
REAX	D	0.04%
CYTK	F	0.04%
GDYN	B	0.04%
PBI	C	0.03%
CDNA	C	0.03%
METC	D	0.03%
IGT	F	0.03%
PLSE	D	0.03%
CSV	C	0.03%
PPTA	B	0.03%
LFST	C	0.03%
NRC	F	0.03%
CELC	F	0.03%
DSGR	B	0.03%
GTHX	A	0.03%
SRDX	D	0.03%
LWLG	F	0.03%
DK	F	0.03%
TSHA	F	0.03%
SKWD	B	0.03%
PX	B	0.03%
BYND	D	0.03%
DHIL	C	0.03%
ASPN	C	0.03%
APLT	B	0.03%
URGN	F	0.03%
CYH	C	0.03%
MLNK	F	0.03%
ESQ	C	0.03%
IRMD	B	0.03%
BAND	F	0.03%
WVE	C	0.03%
CTLP	B	0.03%
MDXG	F	0.03%
FNA	F	0.03%
KRUS	D	0.03%
GCMG	C	0.03%
XERS	C	0.03%
ATEX	D	0.03%
LEU	A	0.03%
TTI	D	0.03%
ENFN	C	0.03%
NVEC	F	0.03%
CHPT	F	0.03%
CIFR	F	0.03%
CERS	F	0.03%
DMRC	F	0.03%
CBL	D	0.03%
BIGC	F	0.03%
IDT	C	0.03%
AEHR	F	0.03%
JELD	D	0.03%
CRGY	D	0.03%
PRMW	C	0.03%
ALEC	F	0.03%
ARCT	D	0.03%
BBW	B	0.03%
MITK	F	0.03%
AMK	B	0.03%
IBTA	D	0.03%
MNMD	F	0.03%
HY	F	0.03%
MAX	D	0.03%
WEAV	B	0.03%
AGS	D	0.03%
GIC	D	0.03%
FC	C	0.03%
TYRA	C	0.03%
INOD	D	0.03%
BMEA	D	0.02%
SERA	D	0.02%
VSEC	D	0.02%
EYPT	F	0.02%
AVAH	D	0.02%
RICK	F	0.02%
BRCC	F	0.02%
INDI	F	0.02%
EWCZ	F	0.02%
CRCT	C	0.02%
PBPB	D	0.02%
EGHT	F	0.02%
FULC	F	0.02%
WTI	D	0.02%
TRAK	D	0.02%
EB	F	0.02%
SYNA	F	0.02%
SGHT	D	0.02%
GCBC	D	0.02%
RCEL	D	0.02%
DENN	D	0.02%
SABR	C	0.02%
IRWD	F	0.02%
PRME	F	0.02%
NTST	D	0.02%
BLZE	D	0.02%
SKYT	D	0.02%
CSTL	C	0.02%
LIND	D	0.02%
APLD	B	0.02%
DOMO	F	0.02%
ABSI	F	0.02%
ALT	F	0.02%
OLO	F	0.02%
RIOT	F	0.02%
LUNG	D	0.02%
SFL	D	0.02%
MIR	B	0.02%
ITI	A	0.02%
INST	C	0.02%
GRND	D	0.02%
LAZR	F	0.02%
NIC	D	0.02%
TMCI	F	0.02%
SIGA	F	0.02%
XPOF	F	0.02%
MNTK	D	0.02%
AKRO	C	0.02%
LYTS	B	0.02%
CRMD	B	0.02%
RDVT	D	0.02%
TH	F	0.02%
BWMN	F	0.02%
SRCL	B	0.02%
GHM	D	0.02%
VGR	C	0.02%
AMRC	B	0.02%
NNOX	F	0.02%
LESL	F	0.02%
SVRA	D	0.02%
OCGN	F	0.02%
LRMR	F	0.02%
CYRX	F	0.02%
EVI	D	0.01%
HOV	C	0.01%
CTGO	F	0.01%
CCO	D	0.01%
FOR	D	0.01%
DCGO	F	0.01%
AKYA	D	0.01%
VTSI	F	0.01%
ANIK	F	0.01%
YORW	D	0.01%
ODC	C	0.01%
NRDY	F	0.01%
SCWO	D	0.01%
DAKT	D	0.01%
ALXO	F	0.01%
MLYS	C	0.01%
EP	D	0.01%
REKR	F	0.01%
VERU	F	0.01%
CURV	F	0.01%
BLNK	F	0.01%
STKS	F	0.01%
OMER	F	0.01%
INMB	F	0.01%
MAPS	F	0.01%
ZURA	D	0.01%
GLSI	D	0.01%
RCKY	C	0.01%
LWAY	B	0.01%
QUAD	D	0.01%
GCO	F	0.01%
MRAM	D	0.01%
DC	D	0.01%
EMBC	D	0.01%
AQST	C	0.01%
ACHV	C	0.01%
IRON	C	0.01%
GOOD	A	0.01%
MRSN	D	0.01%
ESPR	F	0.01%
STTK	F	0.01%
UVE	C	0.01%
PLUG	F	0.01%
GNE	D	0.01%
IAS	F	0.01%
CAPR	C	0.01%
RILY	F	0.01%
CWCO	F	0.01%
ULH	C	0.01%
LAW	D	0.01%
NTIC	F	0.01%
PFIS	D	0.01%
KFS	D	0.01%
ALIM	C	0.01%
FFWM	F	0.01%
MVIS	D	0.01%
DESP	C	0.01%
ACCD	F	0.01%
MGTX	F	0.01%
THR	F	0.01%
PRTH	C	0.01%
NPCE	F	0.01%
PKE	F	0.01%
PRCH	F	0.01%
LFMD	F	0.01%
TRVI	C	0.01%
STGW	C	0.01%
AVXL	D	0.01%
QUIK	F	0.01%
TIPT	C	0.01%
STXS	F	0.01%
INBK	D	0.01%
XFOR	F	0.01%
PSTL	C	0.01%
ACIC	F	0.01%
ZYXI	F	0.01%
BBAI	F	0.01%
PHAT	C	0.01%
OLMA	D	0.01%
PETQ	A	0.01%
ADCT	D	0.01%
JYNT	F	0.01%
SSTI	F	0.01%
SMLR	F	0.01%
FHTX	C	0.01%
INFU	D	0.01%
CVRX	F	0.01%
PEPG	F	0.01%
LCTX	F	0.01%
KLTR	D	0.01%
SKIN	F	0.01%
CADL	D	0.01%
TAYD	D	0.01%
BVS	B	0.01%
JILL	F	0.01%
CTOS	F	0.01%
PESI	C	0.01%
TSQ	F	0.01%
SKYH	D	0.01%
PCT	C	0.01%
IGMS	D	0.01%
OPRX	F	0.01%
BRY	F	0.01%
CDZI	F	0.01%
SCPH	F	0.01%
EGAN	F	0.01%
ORIC	D	0.01%
SMTI	F	0.01%
XOMA	D	0.01%
GWRS	D	0.01%
MDWD	D	0.01%
QRHC	D	0.01%
ULCC	D	0.01%
HNST	D	0.01%
BDTX	F	0.01%
SMID	D	0.01%
PAYS	F	0.01%
CDLX	F	0.01%
GRPN	F	0.01%
HEAR	C	0.01%
MODV	F	0.01%
BTMD	F	0.01%
KNTK	C	0.01%
EAF	D	0.01%
LIVN	D	0.01%
LNZA	D	0.01%
EVCM	F	0.01%
OFLX	D	0.01%
INMD	F	0.01%
CDXC	C	0.01%
AEYE	C	0.01%
DSP	C	0.01%
TCX	F	0.01%
PFMT	D	0.01%
KRT	F	0.01%
GAMB	D	0.01%
LOVE	B	0.01%
CMPO	B	0.01%
ALTG	F	0.01%
REAL	D	0.01%
MGNX	F	0.01%
UMH	C	0.01%
MLP	D	0.01%
TDOC	D	0.01%
NATH	A	0.01%
ARAY	F	0.01%
INSE	C	0.01%
BYRN	B	0.01%
LLAP	F	0.0%
QRTEB	D	0.0%
GRWG	F	0.0%
MASS	F	0.0%
RSVR	D	0.0%
BSVN	D	0.0%
LYRA	F	0.0%
ATLC	C	0.0%
LUNR	D	0.0%
PTSI	F	0.0%
QIPT	F	0.0%
TDUP	F	0.0%
PGEN	F	0.0%
HLVX	F	0.0%
AMPX	F	0.0%
ULBI	F	0.0%
RMNI	F	0.0%
VGAS	D	0.0%
VIRC	D	0.0%
SES	F	0.0%
MEC	B	0.0%
HOWL	F	0.0%
CZFS	C	0.0%
PLPC	D	0.0%
BOC	D	0.0%
FBIZ	C	0.0%
RENB	F	0.0%
EVC	D	0.0%
ORGO	D	0.0%
HRTX	F	0.0%
CTV	F	0.0%
APEI	F	0.0%
TERN	D	0.0%
CDXS	D	0.0%
AVTE	D	0.0%
ELEV	F	0.0%
ANET	B	0.0%
LSEA	C	0.0%
CIX	C	0.0%
RGLS	F	0.0%
DIBS	D	0.0%
CLBK	F	0.0%
FENC	F	0.0%
SGC	F	0.0%
SST	F	0.0%
SHYF	D	0.0%
ALDX	C	0.0%
ATOS	C	0.0%
AKBA	F	0.0%
HBIO	F	0.0%
IIIV	F	0.0%
LASR	F	0.0%
VALU	C	0.0%
RM	C	0.0%
DLHC	F	0.0%
GALT	C	0.0%
METCB	D	0.0%
CRDF	D	0.0%
MITT	C	0.0%
ORN	F	0.0%
OOMA	C	0.0%
PBYI	F	0.0%
NATR	F	0.0%
HCAT	D	0.0%
MPX	D	0.0%
INNV	D	0.0%
CHCT	F	0.0%
FUBO	F	0.0%
CHRS	F	0.0%
MLR	D	0.0%
TNYA	F	0.0%
RDW	D	0.0%
CMRE	C	0.0%
PLL	D	0.0%
USCB	D	0.0%
MYFW	C	0.0%
CENT	F	0.0%
ITIC	C	0.0%
FIGS	C	0.0%
EPM	C	0.0%
VRCA	F	0.0%
MCBS	C	0.0%
OABI	F	0.0%
AOMR	F	0.0%
FG	C	0.0%
QBTS	F	0.0%
REPX	D	0.0%
CLPR	B	0.0%
EVEX	D	0.0%
NGS	D	0.0%
FLWS	F	0.0%
ARKO	C	0.0%
HDSN	D	0.0%
GMGI	F	0.0%
AIRS	D	0.0%
CABA	F	0.0%
SWBI	F	0.0%
PTVE	D	0.0%
PSTX	D	0.0%
SHBI	D	0.0%
OPEN	F	0.0%
AVO	C	0.0%
ATNM	F	0.0%
BMBL	F	0.0%
DIN	D	0.0%
CVGW	B	0.0%
TTSH	D	0.0%
BOOM	D	0.0%
NGVC	B	0.0%
HQI	C	0.0%
QTRX	F	0.0%
EGY	D	0.0%
OVID	D	0.0%
OBIO	F	0.0%
NWPX	B	0.0%
LXRX	F	0.0%

VTWG Underweight 266 Positions Relative to QVMS

Symbol	Grade	Weight
ATI	B	-0.66%
CMA	C	-0.63%
MTH	B	-0.59%
RHI	D	-0.55%
JXN	B	-0.54%
VFC	B	-0.52%
EPRT	C	-0.47%
LNC	D	-0.47%
AWI	A	-0.46%
RDN	D	-0.44%
GPI	C	-0.44%
SEE	B	-0.44%
OGN	D	-0.43%
ABG	D	-0.43%
MATX	B	-0.41%
AL	D	-0.4%
ALK	B	-0.4%
ACA	C	-0.38%
SIG	C	-0.37%
MHO	A	-0.37%
SLG	C	-0.35%
AGO	D	-0.34%
ABCB	C	-0.33%
SANM	D	-0.32%
GTES	C	-0.31%
IAC	C	-0.31%
KFY	C	-0.31%
BGC	B	-0.3%
IIPR	C	-0.3%
ABM	D	-0.3%
HCC	D	-0.3%
RUSHA	C	-0.29%
FULT	D	-0.29%
UCBI	C	-0.29%
HASI	C	-0.29%
PBH	D	-0.29%
MAC	B	-0.29%
HIW	C	-0.28%
SKYW	B	-0.28%
CWEN	A	-0.28%
AUB	D	-0.28%
DXC	D	-0.28%
BXMT	C	-0.27%
CRC	B	-0.27%
ICUI	B	-0.27%
BRC	C	-0.27%
APLE	D	-0.27%
CBU	D	-0.26%
CATY	D	-0.26%
WSFS	D	-0.26%
MPW	C	-0.26%
FHB	D	-0.25%
GNW	C	-0.25%
REZI	F	-0.25%
UNF	B	-0.24%
PENN	D	-0.24%
AVA	B	-0.24%
BTU	B	-0.24%
CEIX	B	-0.24%
HP	F	-0.24%
LXP	D	-0.24%
DEI	A	-0.23%
BKU	D	-0.23%
ABR	B	-0.23%
HUBG	D	-0.23%
VIRT	C	-0.22%
ARCH	D	-0.22%
NWL	D	-0.22%
CWK	C	-0.22%
FL	F	-0.22%
AAP	F	-0.22%
SFNC	C	-0.22%
PPBI	D	-0.21%
SATS	C	-0.21%
BOH	F	-0.21%
MTX	D	-0.21%
INDB	D	-0.21%
CPK	B	-0.21%
PTEN	F	-0.21%
UE	B	-0.2%
ENVA	C	-0.2%
CVBF	D	-0.2%
PFS	D	-0.2%
FFBC	D	-0.2%
MYGN	D	-0.2%
PRK	D	-0.2%
FCPT	C	-0.2%
AKR	B	-0.19%
WAFD	D	-0.19%
TDS	B	-0.19%
OFG	D	-0.18%
PHIN	D	-0.18%
SHO	D	-0.18%
KSS	D	-0.18%
SBCF	D	-0.18%
NBTB	D	-0.18%
B	D	-0.18%
VSTO	D	-0.18%
STC	C	-0.17%
KMT	C	-0.17%
PINC	F	-0.17%
IBTX	D	-0.17%
BANR	C	-0.17%
OI	D	-0.17%
RNST	D	-0.17%
DRH	D	-0.16%
MLKN	F	-0.16%
EPC	F	-0.16%
HAYW	B	-0.16%
FTRE	F	-0.16%
ROIC	B	-0.16%
KAR	D	-0.16%
THS	C	-0.16%
MRCY	C	-0.16%
TRMK	D	-0.16%
VIAV	C	-0.16%
TTMI	D	-0.16%
STRA	F	-0.16%
LZB	C	-0.15%
GEO	F	-0.15%
NHC	D	-0.15%
VSTS	D	-0.15%
ROG	D	-0.15%
GO	F	-0.15%
JBLU	B	-0.15%
TRIP	F	-0.14%
LGND	D	-0.14%
PEB	D	-0.14%
CABO	F	-0.14%
FBNC	D	-0.14%
KN	D	-0.14%
FBK	D	-0.14%
NWBI	D	-0.14%
FCF	D	-0.14%
WGO	D	-0.14%
HOPE	D	-0.13%
MODG	F	-0.13%
DAN	F	-0.13%
GBX	C	-0.13%
XHR	C	-0.13%
NTCT	C	-0.13%
TALO	F	-0.13%
STBA	D	-0.13%
GNL	D	-0.13%
NBHC	D	-0.13%
SJW	D	-0.13%
BHE	C	-0.13%
SBH	B	-0.12%
JBGS	C	-0.12%
DNOW	F	-0.12%
VBTX	C	-0.12%
CXW	F	-0.12%
PRDO	D	-0.12%
HTH	D	-0.12%
GTY	B	-0.12%
NWN	B	-0.12%
HMN	C	-0.12%
LTC	C	-0.12%
SAFT	D	-0.11%
XRX	F	-0.11%
COHU	F	-0.11%
CUBI	F	-0.11%
AAT	C	-0.11%
DEA	D	-0.11%
SCSC	D	-0.11%
WABC	F	-0.11%
IART	F	-0.11%
UVV	C	-0.11%
NAVI	D	-0.11%
ALEX	D	-0.11%
EIG	B	-0.1%
PMT	B	-0.1%
ARI	F	-0.1%
NX	F	-0.1%
CERT	F	-0.1%
RC	F	-0.1%
DGII	D	-0.09%
EFC	D	-0.09%
CSR	D	-0.09%
AVNS	C	-0.09%
WS	D	-0.09%
CRK	C	-0.09%
PARR	F	-0.09%
BHLB	D	-0.09%
MD	B	-0.08%
BDN	A	-0.08%
UTL	C	-0.08%
GPRE	F	-0.08%
VTOL	D	-0.08%
SBSI	D	-0.08%
MMI	C	-0.08%
ODP	F	-0.08%
NVRI	D	-0.08%
MATV	D	-0.08%
FDP	B	-0.08%
RWT	C	-0.08%
UNFI	B	-0.08%
PFBC	D	-0.08%
DCOM	C	-0.08%
NXRT	D	-0.08%
SNDR	C	-0.08%
GIII	C	-0.08%
PRAA	F	-0.08%
AOSL	D	-0.08%
CARS	F	-0.08%
HCSG	D	-0.07%
SVC	F	-0.07%
KOP	F	-0.07%
ASIX	B	-0.07%
WNC	F	-0.07%
CNXN	C	-0.07%
DLX	F	-0.07%
BRKL	D	-0.07%
MNRO	C	-0.07%
VSAT	F	-0.07%
EGBN	C	-0.06%
GDEN	D	-0.06%
ALGT	D	-0.06%
HZO	C	-0.06%
BGS	D	-0.06%
CFFN	D	-0.06%
HAIN	C	-0.06%
HAYN	B	-0.06%
SHEN	F	-0.06%
MATW	F	-0.06%
PRLB	F	-0.06%
ETH	D	-0.06%
TMP	D	-0.06%
SCVL	C	-0.06%
CPF	C	-0.06%
HFWA	D	-0.06%
ASTE	F	-0.06%
INN	B	-0.06%
SCHL	D	-0.06%
SPTN	B	-0.06%
PRA	C	-0.06%
HSII	B	-0.06%
AXL	F	-0.06%
SXC	F	-0.06%
RES	D	-0.05%
HAFC	D	-0.05%
GES	F	-0.05%
EZPW	D	-0.05%
SMP	D	-0.05%
CHUY	B	-0.05%
MTUS	F	-0.05%
HPP	F	-0.05%
WSR	B	-0.05%
TRST	D	-0.05%
PUMP	F	-0.05%
KELYA	D	-0.05%
SWI	C	-0.05%
UFCS	D	-0.04%
USNA	F	-0.04%
RGNX	F	-0.04%
HTZ	F	-0.04%
CCRN	F	-0.04%
CTKB	F	-0.04%
TR	D	-0.04%
GDOT	C	-0.04%
AMBC	F	-0.04%
CLW	F	-0.04%
MOV	F	-0.03%
NPK	F	-0.03%
TWI	D	-0.03%
FLGT	F	-0.03%