DTD vs. VFMF ETF Comparison

Comparison of WisdomTree Total Dividend Fund (DTD) to Vanguard U.S. Multifactor ETF (VFMF)

DTD

WisdomTree Total Dividend Fund

DTD Description

The investment seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Dividend Index. The fund invests at least 95% of its total assets (exclusive of collateral held from securities lending) in component securities of the index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. The WisdomTree Dividend Index is a fundamentally-weighted index that defines the dividend-paying portion of the U.S. stock market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$79.73

Average Daily Volume

21,209

Number of Holdings ^*

811

* may have additional holdings in another (foreign) market

VFMF

Vanguard U.S. Multifactor ETF

VFMF Description

The investment seeks to provide long-term capital appreciation by investing in stocks with relatively strong recent performance, strong fundamentals, and low prices relative to fundamentals as determined by the advisor. The fund invests primarily in U.S. common stocks with the potential to generate higher returns relative to the broad U.S. equity market by investing in stocks with relatively strong recent performance, strong fundamentals, and low prices relative to fundamentals as determined by the advisor. Under normal circumstances, at least 80% of the fund's assets will be invested in securities issued by U.S. companies.

Grade (RS Rating)

Last Trade

$139.12

Average Daily Volume

9,517

Number of Holdings ^*

470

* may have additional holdings in another (foreign) market

Performance

Period	DTD	VFMF
30 Days	1.98%	4.74%
60 Days	4.63%	6.50%
90 Days	6.18%	6.64%
12 Months	30.71%	32.18%

232 Overlapping Holdings

	Symbol	Grade	Weight in DTD	Weight in VFMF	Overlap
	ABBV	F	1.97%	0.93%	0.93%
	ACT	C	0.03%	0.29%	0.03%
	ADTN	A	0.02%	0.02%	0.02%
	AEO	F	0.01%	0.17%	0.01%
	AFL	B	0.26%	1.08%	0.26%
	AGM	B	0.01%	0.06%	0.01%
	AIG	B	0.13%	1.02%	0.13%
	AIT	B	0.04%	0.17%	0.04%
	ALSN	B	0.03%	0.3%	0.03%
	AMAT	F	0.14%	0.78%	0.14%
	AMKR	D	0.01%	0.2%	0.01%
	AMP	A	0.14%	0.17%	0.14%
	APO	B	0.2%	0.74%	0.2%
	APOG	C	0.02%	0.09%	0.02%
	ASB	B	0.04%	0.16%	0.04%
	AXP	A	0.32%	0.82%	0.32%
	AZZ	A	0.01%	0.1%	0.01%
	BAC	A	1.22%	0.16%	0.16%
	BBY	D	0.11%	0.05%	0.05%
	BERY	C	0.02%	0.03%	0.02%
	BK	A	0.23%	0.98%	0.23%
	BKE	B	0.02%	0.05%	0.02%
	BKNG	A	0.3%	0.52%	0.3%
	BKU	A	0.01%	0.04%	0.01%
	BOKF	B	0.03%	0.19%	0.03%
	BPOP	C	0.03%	0.67%	0.03%
	BTU	B	0.01%	0.05%	0.01%
	BUSE	B	0.02%	0.02%	0.02%
	BWA	D	0.02%	0.06%	0.02%
	BYD	B	0.02%	0.03%	0.02%
	C	A	0.63%	0.06%	0.06%
	CAH	B	0.07%	0.53%	0.07%
	CASY	A	0.02%	0.05%	0.02%
	CAT	B	0.45%	0.48%	0.45%
	CATY	B	0.03%	0.06%	0.03%
	CBOE	C	0.05%	0.34%	0.05%
	CBSH	B	0.02%	0.34%	0.02%
	CBT	D	0.03%	0.05%	0.03%
	CBU	B	0.02%	0.12%	0.02%
	CF	A	0.04%	0.16%	0.04%
	CG	B	0.08%	0.07%	0.07%
	CHCO	B	0.01%	0.15%	0.01%
	CHRD	D	0.04%	0.15%	0.04%
	CI	D	0.21%	0.5%	0.21%
	CIVI	D	0.04%	0.06%	0.04%
	CL	D	0.3%	0.46%	0.3%
	CMC	B	0.02%	0.14%	0.02%
	CNA	C	0.05%	0.07%	0.05%
	CNO	B	0.03%	0.4%	0.03%
	COKE	C	0.01%	0.18%	0.01%
	COP	C	0.32%	0.22%	0.22%
	COR	B	0.07%	0.17%	0.07%
	COST	A	0.44%	0.52%	0.44%
	CRBG	B	0.1%	0.15%	0.1%
	CRC	A	0.02%	0.15%	0.02%
	CRM	B	0.25%	0.19%	0.19%
	CRS	B	0.01%	0.05%	0.01%
	CSL	C	0.04%	0.07%	0.04%
	CTAS	B	0.15%	0.07%	0.07%
	CTSH	B	0.08%	0.12%	0.08%
	CVX	A	1.51%	0.33%	0.33%
	DELL	B	0.06%	0.23%	0.06%
	DHI	F	0.06%	0.26%	0.06%
	DKS	D	0.04%	0.15%	0.04%
	DLX	B	0.01%	0.17%	0.01%
	EBAY	D	0.09%	0.07%	0.07%
	EME	A	0.01%	0.22%	0.01%
	ENS	F	0.01%	0.14%	0.01%
	EOG	A	0.41%	0.51%	0.41%
	EPC	F	0.01%	0.07%	0.01%
	EQH	C	0.05%	0.2%	0.05%
	EWBC	A	0.06%	0.59%	0.06%
	EXP	B	0.02%	0.11%	0.02%
	FANG	C	0.09%	0.6%	0.09%
	FBP	C	0.03%	0.5%	0.03%
	FCF	B	0.02%	0.25%	0.02%
	FDX	B	0.16%	0.54%	0.16%
	FIBK	B	0.03%	0.12%	0.03%
	FITB	B	0.16%	0.39%	0.16%
	FIX	A	0.01%	0.16%	0.01%
	FLO	D	0.03%	0.06%	0.03%
	FNF	B	0.07%	0.23%	0.07%
	FRME	B	0.02%	0.06%	0.02%
	GAP	C	0.03%	0.08%	0.03%
	GILD	C	0.47%	0.43%	0.43%
	GM	C	0.11%	0.44%	0.11%
	GOLF	B	0.01%	0.04%	0.01%
	GOOG	C	0.57%	0.9%	0.57%
	GOOGL	C	0.87%	0.5%	0.5%
	GPC	D	0.06%	0.1%	0.06%
	GPK	C	0.03%	0.03%	0.03%
	GRNT	B	0.01%	0.05%	0.01%
	HAFC	B	0.02%	0.13%	0.02%
	HCA	F	0.11%	0.82%	0.11%
	HEES	C	0.01%	0.04%	0.01%
	HIG	B	0.13%	0.7%	0.13%
	HNI	B	0.02%	0.06%	0.02%
	HP	C	0.01%	0.18%	0.01%
	HPE	B	0.08%	0.04%	0.04%
	HPQ	B	0.15%	0.19%	0.15%
	HRB	D	0.05%	0.45%	0.05%
	HWC	B	0.02%	0.12%	0.02%
	IBM	C	1.21%	0.61%	0.61%
	IBOC	B	0.02%	0.34%	0.02%
	IDCC	B	0.02%	0.07%	0.02%
	INGR	C	0.05%	0.35%	0.05%
	JBL	C	0.02%	0.24%	0.02%
	JEF	A	0.07%	0.19%	0.07%
	JNJ	C	1.83%	0.38%	0.38%
	JPM	A	3.09%	0.72%	0.72%
	JWN	D	0.03%	0.07%	0.03%
	JXN	C	0.06%	0.1%	0.06%
	KBH	D	0.03%	0.16%	0.03%
	KLAC	F	0.1%	0.52%	0.1%
	KMB	C	0.26%	0.59%	0.26%
	KMT	B	0.02%	0.03%	0.02%
	KNTK	A	0.02%	0.12%	0.02%
	KR	B	0.16%	0.73%	0.16%
	KTB	B	0.03%	0.15%	0.03%
	LBRT	D	0.01%	0.05%	0.01%
	LDOS	C	0.04%	0.15%	0.04%
	LEN	D	0.06%	0.19%	0.06%
	LEN	D	0.06%	0.07%	0.06%
	LMT	D	0.45%	0.64%	0.45%
	LPX	B	0.02%	0.21%	0.02%
	LZB	B	0.01%	0.07%	0.01%
	M	F	0.02%	0.22%	0.02%
	MAN	F	0.01%	0.02%	0.01%
	MATX	C	0.02%	0.11%	0.02%
	MCK	A	0.08%	0.71%	0.08%
	MCRI	A	0.01%	0.04%	0.01%
	MCY	A	0.02%	0.14%	0.02%
	MET	A	0.22%	0.05%	0.05%
	META	D	0.92%	0.82%	0.82%
	MGY	A	0.02%	0.04%	0.02%
	MLI	B	0.04%	0.71%	0.04%
	MLKN	F	0.01%	0.23%	0.01%
	MO	A	0.7%	0.78%	0.7%
	MPC	D	0.22%	0.83%	0.22%
	MPWR	F	0.03%	0.1%	0.03%
	MRK	D	0.79%	0.46%	0.46%
	MTDR	B	0.01%	0.08%	0.01%
	MTG	C	0.04%	0.71%	0.04%
	MUR	D	0.02%	0.13%	0.02%
	MUSA	B	0.01%	0.14%	0.01%
	NAVI	F	0.01%	0.09%	0.01%
	NOG	B	0.02%	0.05%	0.02%
	NTAP	C	0.08%	0.17%	0.08%
	NUE	C	0.05%	0.13%	0.05%
	NVDA	B	2.38%	0.63%	0.63%
	NWS	A	0.0%	0.36%	0.0%
	NXST	C	0.03%	0.04%	0.03%
	OC	A	0.04%	0.44%	0.04%
	OFG	B	0.03%	0.64%	0.03%
	OGN	F	0.03%	0.12%	0.03%
	OMF	A	0.05%	0.46%	0.05%
	ORI	A	0.07%	0.45%	0.07%
	OVV	B	0.04%	0.07%	0.04%
	OXM	F	0.01%	0.09%	0.01%
	PATK	C	0.03%	0.18%	0.03%
	PCAR	B	0.29%	0.13%	0.13%
	PEBO	B	0.02%	0.02%	0.02%
	PFBC	B	0.01%	0.25%	0.01%
	PFG	D	0.09%	0.06%	0.06%
	PGR	A	0.13%	0.2%	0.13%
	PH	A	0.2%	0.11%	0.11%
	PHIN	A	0.01%	0.24%	0.01%
	PHM	D	0.05%	0.72%	0.05%
	PINC	B	0.02%	0.18%	0.02%
	PKG	A	0.11%	0.19%	0.11%
	PM	B	1.16%	0.81%	0.81%
	PR	B	0.02%	0.16%	0.02%
	PRDO	B	0.01%	0.34%	0.01%
	PRI	B	0.03%	0.28%	0.03%
	PRK	B	0.01%	0.05%	0.01%
	PSX	C	0.2%	0.27%	0.2%
	QCOM	F	0.42%	0.82%	0.42%
	QCRH	B	0.03%	0.1%	0.03%
	R	B	0.03%	0.16%	0.03%
	RDN	D	0.04%	0.21%	0.04%
	RGP	F	0.01%	0.02%	0.01%
	RL	C	0.03%	0.19%	0.03%
	RMD	C	0.04%	0.15%	0.04%
	RRC	B	0.02%	0.03%	0.02%
	RS	B	0.05%	0.11%	0.05%
	RTX	D	0.56%	0.36%	0.36%
	SCS	C	0.01%	0.32%	0.01%
	SFNC	C	0.03%	0.08%	0.03%
	SHOO	F	0.01%	0.04%	0.01%
	SLM	A	0.02%	0.41%	0.02%
	SLVM	B	0.01%	0.15%	0.01%
	SM	B	0.01%	0.13%	0.01%
	SNA	A	0.08%	0.15%	0.08%
	SRCE	B	0.01%	0.28%	0.01%
	SSD	F	0.02%	0.12%	0.02%
	STBA	B	0.02%	0.16%	0.02%
	STLD	B	0.04%	0.18%	0.04%
	STRA	C	0.01%	0.03%	0.01%
	STT	B	0.13%	0.23%	0.13%
	SWKS	F	0.04%	0.09%	0.04%
	SYF	B	0.09%	0.71%	0.09%
	TEX	F	0.01%	0.18%	0.01%
	TGT	F	0.25%	0.65%	0.25%
	THO	B	0.02%	0.21%	0.02%
	TJX	A	0.35%	0.42%	0.35%
	TMUS	B	0.76%	0.75%	0.75%
	TNL	A	0.03%	0.15%	0.03%
	TOL	B	0.01%	0.25%	0.01%
	TPL	A	0.04%	0.03%	0.03%
	TPR	B	0.06%	0.14%	0.06%
	UFPI	C	0.02%	0.37%	0.02%
	UHS	D	0.02%	0.1%	0.02%
	UNM	A	0.06%	0.28%	0.06%
	UPBD	B	0.02%	0.08%	0.02%
	URI	C	0.08%	0.17%	0.08%
	UVSP	B	0.02%	0.03%	0.02%
	VCTR	B	0.03%	0.18%	0.03%
	VIRT	A	0.02%	0.23%	0.02%
	VLO	C	0.17%	0.85%	0.17%
	VTRS	A	0.09%	0.04%	0.04%
	WCC	B	0.01%	0.12%	0.01%
	WFC	A	0.9%	1.25%	0.9%
	WGO	C	0.01%	0.04%	0.01%
	WHD	B	0.02%	0.1%	0.02%
	WMK	C	0.01%	0.16%	0.01%
	WMS	F	0.01%	0.07%	0.01%
	WMT	A	1.61%	0.78%	0.78%
	WRB	A	0.07%	0.33%	0.07%
	WSFS	B	0.02%	0.24%	0.02%
	WSM	C	0.05%	0.28%	0.05%
	WU	F	0.03%	0.06%	0.03%
	XOM	B	2.48%	0.47%	0.47%

DTD Overweight 580 Positions Relative to VFMF

	Symbol	Grade	Weight
	AAPL	C	3.03%
	MSFT	D	2.78%
	AVGO	D	2.39%
	HD	B	1.78%
	PG	C	1.61%
	KO	D	1.4%
	CSCO	B	1.3%
	UNH	B	1.24%
	PEP	F	1.12%
	MS	A	1.03%
	CMCSA	B	0.88%
	MCD	D	0.83%
	ORCL	A	0.74%
	GS	A	0.69%
	V	A	0.67%
	TXN	C	0.65%
	LLY	F	0.63%
	LOW	C	0.57%
	BMY	B	0.57%
	AMGN	F	0.55%
	HON	C	0.53%
	MA	B	0.45%
	BLK	B	0.43%
	UPS	C	0.43%
	ABT	B	0.42%
	USB	A	0.42%
	SO	C	0.41%
	SPG	A	0.4%
	DUK	C	0.39%
	PNC	B	0.39%
	BX	A	0.39%
	OKE	A	0.38%
	MDLZ	F	0.37%
	UNP	C	0.37%
	WMB	A	0.35%
	ADP	A	0.34%
	PLD	F	0.33%
	D	C	0.32%
	ITW	B	0.31%
	SBUX	A	0.31%
	AMT	C	0.27%
	PEG	A	0.26%
	PRU	A	0.25%
	CVS	D	0.25%
	PAYX	B	0.25%
	O	C	0.25%
	PSA	C	0.25%
	VICI	C	0.25%
	MMC	B	0.25%
	AEP	C	0.24%
	WM	B	0.24%
	SYK	B	0.24%
	SCHW	B	0.23%
	XEL	A	0.22%
	ETR	B	0.22%
	CCI	C	0.22%
	FIS	C	0.21%
	KHC	F	0.21%
	ICE	C	0.21%
	ADI	D	0.21%
	GD	D	0.2%
	SRE	A	0.2%
	FAST	B	0.19%
	CME	B	0.19%
	WELL	A	0.19%
	ED	C	0.19%
	APD	A	0.19%
	DOW	F	0.19%
	KVUE	A	0.19%
	EMR	B	0.19%
	VST	A	0.18%
	DE	B	0.18%
	GLW	B	0.17%
	CMI	A	0.17%
	DIS	B	0.17%
	INTU	B	0.17%
	SYY	D	0.17%
	DLR	B	0.17%
	MTB	A	0.16%
	NSC	B	0.16%
	GIS	D	0.16%
	AVB	B	0.16%
	GE	D	0.16%
	COF	C	0.16%
	EQIX	A	0.16%
	SPGI	C	0.16%
	TMO	F	0.16%
	EXR	C	0.15%
	TRV	B	0.15%
	MAR	A	0.15%
	EXC	C	0.15%
	EIX	B	0.15%
	APH	A	0.15%
	RF	A	0.15%
	ALL	A	0.15%
	MSI	B	0.15%
	NOC	D	0.14%
	KDP	F	0.14%
	NKE	F	0.14%
	DHR	F	0.14%
	SHW	B	0.13%
	ECL	D	0.13%
	TROW	B	0.13%
	DFS	B	0.13%
	HBAN	A	0.13%
	KKR	A	0.13%
	K	A	0.13%
	ELV	F	0.13%
	BDX	F	0.12%
	LRCX	F	0.12%
	ZTS	D	0.12%
	AEE	A	0.12%
	BKR	A	0.12%
	LHX	C	0.12%
	CSX	C	0.11%
	MCO	B	0.11%
	TRGP	A	0.11%
	WEC	A	0.11%
	ES	C	0.11%
	STZ	D	0.11%
	YUM	D	0.11%
	FE	C	0.11%
	DRI	B	0.11%
	IRM	C	0.11%
	CARR	C	0.1%
	PPL	A	0.1%
	ATO	A	0.1%
	GWW	B	0.1%
	IP	A	0.1%
	RSG	A	0.1%
	ARES	A	0.1%
	OTIS	C	0.1%
	EQR	C	0.1%
	DD	C	0.09%
	DTE	C	0.09%
	NTRS	A	0.09%
	PNW	A	0.08%
	ADM	D	0.08%
	HSY	F	0.08%
	TSCO	D	0.08%
	CINF	A	0.08%
	TSN	B	0.08%
	CEG	C	0.08%
	VTR	B	0.08%
	LVS	B	0.08%
	MU	D	0.08%
	PPG	F	0.08%
	OMC	C	0.08%
	LNG	A	0.08%
	EVRG	A	0.08%
	HRL	D	0.07%
	CAG	F	0.07%
	CMS	C	0.07%
	NDAQ	A	0.07%
	AJG	A	0.07%
	OXY	D	0.07%
	BR	A	0.07%
	NRG	B	0.07%
	ARE	F	0.07%
	EQT	B	0.07%
	MCHP	F	0.07%
	CLX	A	0.07%
	ESS	B	0.06%
	CUBE	C	0.06%
	IPG	D	0.06%
	DOV	A	0.06%
	MKC	C	0.06%
	HLT	A	0.06%
	AWK	C	0.06%
	WSO	A	0.06%
	OGE	A	0.06%
	WPC	C	0.06%
	LAMR	C	0.06%
	BEN	C	0.06%
	LUV	C	0.06%
	TXRH	B	0.06%
	RJF	A	0.06%
	ROST	D	0.06%
	CMA	B	0.06%
	LNT	A	0.06%
	RGA	A	0.06%
	MAA	B	0.06%
	GLPI	C	0.06%
	NI	A	0.06%
	HES	B	0.06%
	ROK	C	0.06%
	AM	A	0.06%
	INVH	D	0.05%
	LNC	C	0.05%
	SJM	D	0.05%
	AME	A	0.05%
	UDR	B	0.05%
	LII	A	0.05%
	WBS	A	0.05%
	JNPR	D	0.05%
	GEN	B	0.05%
	ALLY	C	0.05%
	VMC	B	0.05%
	KIM	A	0.05%
	IR	B	0.05%
	EVR	B	0.05%
	HUBB	B	0.05%
	HAL	C	0.05%
	DAL	B	0.05%
	CPB	D	0.05%
	FOX	A	0.05%
	SWK	D	0.05%
	EMN	C	0.05%
	MAS	D	0.05%
	ROP	B	0.05%
	DTM	A	0.05%
	OWL	A	0.05%
	UI	B	0.05%
	CNP	A	0.05%
	MSCI	C	0.05%
	MRO	B	0.04%
	HST	C	0.04%
	VLY	B	0.04%
	VRSK	A	0.04%
	ERIE	D	0.04%
	WAB	B	0.04%
	PCG	A	0.04%
	RPM	A	0.04%
	ACI	C	0.04%
	CFR	B	0.04%
	BKH	A	0.04%
	BRO	B	0.04%
	HLI	A	0.04%
	EA	A	0.04%
	CHRW	B	0.04%
	ITT	A	0.04%
	FRT	B	0.04%
	ZION	B	0.04%
	BAH	F	0.04%
	TAP	C	0.04%
	NWE	B	0.04%
	XYL	D	0.04%
	HWM	A	0.04%
	NNN	C	0.04%
	FHB	B	0.04%
	BRX	A	0.04%
	CHD	A	0.04%
	ROL	B	0.04%
	ODFL	C	0.04%
	DGX	A	0.04%
	FNB	A	0.04%
	PWR	A	0.04%
	SW	A	0.04%
	MLM	C	0.04%
	WY	F	0.04%
	SNV	C	0.04%
	LPLA	A	0.03%
	RUSHA	C	0.03%
	WLK	D	0.03%
	WH	B	0.03%
	ATR	B	0.03%
	FTV	C	0.03%
	SMG	C	0.03%
	SASR	B	0.03%
	CNS	B	0.03%
	PNM	B	0.03%
	CPT	B	0.03%
	SAIC	F	0.03%
	NWSA	A	0.03%
	TMP	B	0.03%
	BANF	B	0.03%
	EHC	B	0.03%
	MSM	C	0.03%
	SR	A	0.03%
	SON	F	0.03%
	FCNCA	A	0.03%
	AUB	B	0.03%
	AVY	F	0.03%
	ALE	A	0.03%
	HLNE	B	0.03%
	WST	C	0.03%
	DCI	B	0.03%
	WEN	D	0.03%
	POR	C	0.03%
	DPZ	C	0.03%
	AIZ	A	0.03%
	SCI	B	0.03%
	WSBC	B	0.03%
	EFX	F	0.03%
	OGS	A	0.03%
	BWXT	B	0.03%
	OZK	B	0.03%
	DINO	D	0.03%
	FAF	A	0.03%
	HUM	C	0.03%
	COLB	B	0.03%
	CCOI	B	0.03%
	SUI	C	0.03%
	LKQ	F	0.03%
	MTN	C	0.03%
	FLS	B	0.03%
	AFG	A	0.03%
	GEHC	D	0.03%
	WTRG	B	0.03%
	BALL	F	0.03%
	SF	B	0.03%
	MC	C	0.03%
	AWR	B	0.03%
	WAL	B	0.03%
	NFG	A	0.03%
	HOMB	A	0.03%
	PB	B	0.03%
	TFSL	A	0.03%
	VRT	B	0.03%
	LECO	C	0.03%
	A	D	0.03%
	HEI	A	0.03%
	AROC	A	0.03%
	GPN	B	0.03%
	SIRI	C	0.03%
	AVA	A	0.03%
	LH	B	0.03%
	PFS	B	0.03%
	UGI	C	0.03%
	PAG	B	0.03%
	EXPD	C	0.03%
	CDW	F	0.03%
	SSNC	B	0.03%
	BANR	B	0.03%
	KMPR	A	0.02%
	EGBN	B	0.02%
	HTH	C	0.02%
	TTEK	F	0.02%
	TPX	B	0.02%
	THG	A	0.02%
	FR	D	0.02%
	ZWS	B	0.02%
	HTLF	B	0.02%
	UMBF	B	0.02%
	CRI	F	0.02%
	IOSP	C	0.02%
	CWEN	C	0.02%
	BANC	B	0.02%
	STEP	C	0.02%
	MGEE	B	0.02%
	BFH	C	0.02%
	VAC	C	0.02%
	BC	C	0.02%
	WAFD	B	0.02%
	MDU	D	0.02%
	HUN	F	0.02%
	SPB	C	0.02%
	BNL	D	0.02%
	RNST	B	0.02%
	TKO	A	0.02%
	ARMK	B	0.02%
	TDS	B	0.02%
	SEM	B	0.02%
	SYBT	B	0.02%
	MRTN	D	0.02%
	OTTR	C	0.02%
	KFY	B	0.02%
	NSA	C	0.02%
	NYT	D	0.02%
	ACM	B	0.02%
	IBTX	B	0.02%
	CCS	D	0.02%
	BRC	D	0.02%
	SEIC	B	0.02%
	AL	B	0.02%
	GNTX	C	0.02%
	NEU	D	0.02%
	MOS	F	0.02%
	STC	B	0.02%
	LAD	A	0.02%
	WWD	C	0.02%
	FCPT	C	0.02%
	NDSN	B	0.02%
	TXT	D	0.02%
	EPR	C	0.02%
	IPAR	B	0.02%
	OSK	C	0.02%
	IBKR	A	0.02%
	LW	C	0.02%
	AMH	C	0.02%
	UBSI	B	0.02%
	NBHC	C	0.02%
	RHP	B	0.02%
	RHI	C	0.02%
	SBRA	C	0.02%
	LCII	C	0.02%
	CAKE	C	0.02%
	IDA	A	0.02%
	VRTS	B	0.02%
	RRX	B	0.02%
	MWA	B	0.02%
	BRKL	B	0.02%
	FFBC	B	0.02%
	PII	F	0.02%
	OCFC	B	0.02%
	TRMK	C	0.02%
	RGLD	C	0.02%
	BBWI	C	0.02%
	FBIN	D	0.02%
	ELS	C	0.02%
	TTC	C	0.02%
	CE	F	0.02%
	LSTR	D	0.02%
	LANC	C	0.02%
	STAG	D	0.02%
	GTY	A	0.02%
	JKHY	D	0.02%
	TW	A	0.02%
	FULT	A	0.02%
	HRI	C	0.02%
	JBHT	C	0.02%
	VOYA	B	0.02%
	SSB	B	0.02%
	ESI	B	0.02%
	CVBF	A	0.02%
	SWX	B	0.02%
	ZBH	C	0.02%
	SBAC	D	0.02%
	PRGS	A	0.02%
	FDS	B	0.02%
	TPG	A	0.02%
	TRST	B	0.02%
	J	D	0.02%
	TKR	D	0.02%
	AVNT	B	0.02%
	APA	D	0.02%
	REYN	D	0.02%
	HII	F	0.02%
	CADE	B	0.02%
	ONB	C	0.02%
	ALB	B	0.02%
	NJR	A	0.02%
	TRN	B	0.02%
	GEF	A	0.02%
	GBCI	B	0.02%
	AOS	F	0.02%
	GGG	B	0.02%
	POOL	C	0.02%
	FBMS	B	0.02%
	IEX	C	0.02%
	AVT	C	0.02%
	AWI	A	0.02%
	REG	A	0.02%
	IIPR	D	0.01%
	DAN	D	0.01%
	CNXC	F	0.01%
	DK	C	0.01%
	HI	C	0.01%
	AESI	B	0.01%
	IRDM	D	0.01%
	IBP	D	0.01%
	COLD	D	0.01%
	WMG	D	0.01%
	BMI	B	0.01%
	VSH	F	0.01%
	DLB	B	0.01%
	LXP	D	0.01%
	WOR	F	0.01%
	GES	F	0.01%
	PCH	F	0.01%
	CABO	B	0.01%
	SCL	C	0.01%
	WINA	C	0.01%
	BRKR	D	0.01%
	BLMN	F	0.01%
	KNSL	B	0.01%
	HXL	F	0.01%
	LEVI	F	0.01%
	PBI	B	0.01%
	CWEN	C	0.01%
	OLED	F	0.01%
	ASH	F	0.01%
	CHE	D	0.01%
	XRX	F	0.01%
	GBX	A	0.01%
	HOG	D	0.01%
	DIN	C	0.01%
	ORA	B	0.01%
	GL	C	0.01%
	CHH	A	0.01%
	WKC	C	0.01%
	KRO	C	0.01%
	CXT	C	0.01%
	COLM	C	0.01%
	SLGN	A	0.01%
	RRR	F	0.01%
	X	B	0.01%
	EGP	D	0.01%
	SEB	F	0.01%
	SFBS	C	0.01%
	JJSF	C	0.01%
	PDCO	F	0.01%
	PBF	D	0.01%
	ENR	B	0.01%
	KALU	C	0.01%
	PTVE	B	0.01%
	XRAY	F	0.01%
	CC	C	0.01%
	CHDN	B	0.01%
	SAFT	B	0.01%
	LEG	F	0.01%
	MKTX	D	0.01%
	KRC	B	0.01%
	UTZ	D	0.01%
	UVV	B	0.01%
	UCB	A	0.01%
	RLI	A	0.01%
	KLG	B	0.01%
	BHE	C	0.01%
	MORN	B	0.01%
	AAON	B	0.01%
	PZZA	F	0.01%
	HMN	B	0.01%
	SIGI	C	0.01%
	WERN	C	0.01%
	CRGY	B	0.01%
	EDR	A	0.01%
	KSS	F	0.01%
	MMS	F	0.01%
	BOH	B	0.01%
	AMSF	B	0.01%
	TECH	F	0.01%
	KWR	C	0.01%
	SSBK	B	0.01%
	EXPO	D	0.01%
	CHX	C	0.01%
	NSP	F	0.01%
	MSA	F	0.01%
	FG	A	0.01%
	BCO	F	0.01%
	OLN	F	0.01%
	CPK	A	0.01%
	KBR	F	0.01%
	L	A	0.01%
	MKSI	C	0.01%
	BSY	F	0.01%
	ABM	B	0.01%
	CFFN	C	0.01%
	WDFC	B	0.01%
	WWW	A	0.01%
	DNB	B	0.01%
	AGCO	D	0.01%
	ADC	A	0.01%
	VMI	B	0.01%
	UTL	B	0.01%
	LFUS	D	0.01%
	EBC	B	0.01%
	SNDR	B	0.01%
	LEA	F	0.01%
	GATX	A	0.01%
	NOV	C	0.01%
	PFSI	C	0.01%
	FFIN	B	0.01%
	WD	D	0.01%
	SXT	C	0.01%
	SLG	B	0.01%
	VLTO	C	0.01%
	SKT	A	0.01%
	JBT	B	0.01%
	TER	F	0.01%
	PTEN	C	0.01%
	SNX	D	0.01%
	WTFC	A	0.01%
	MSBI	B	0.01%
	POWL	C	0.01%
	CCK	D	0.01%
	SEE	C	0.01%
	PAYC	B	0.01%
	CVI	F	0.01%
	PNFP	B	0.01%
	MAC	B	0.0%
	POWI	F	0.0%
	KW	C	0.0%
	GTN	F	0.0%
	RELL	B	0.0%
	NFE	D	0.0%
	UWMC	D	0.0%
	CWH	B	0.0%
	BGS	F	0.0%
	NUS	D	0.0%

DTD Underweight 238 Positions Relative to VFMF

	Symbol	Grade	Weight
	MMM	D	-0.9%
	T	A	-0.77%
	CFG	B	-0.57%
	VZ	C	-0.52%
	BCC	B	-0.52%
	FI	A	-0.51%
	ANET	C	-0.5%
	COLL	F	-0.46%
	TT	A	-0.44%
	AZO	C	-0.43%
	PVH	C	-0.39%
	AMAL	B	-0.39%
	UTHR	C	-0.37%
	KELYA	F	-0.36%
	ANDE	D	-0.34%
	EIG	B	-0.34%
	AMG	B	-0.32%
	CPF	B	-0.31%
	NMIH	C	-0.31%
	CASH	B	-0.3%
	NTB	B	-0.3%
	SIG	B	-0.3%
	GIII	D	-0.3%
	GFF	A	-0.29%
	CALM	A	-0.28%
	TK	D	-0.27%
	FCX	F	-0.26%
	AYI	B	-0.26%
	EAT	A	-0.26%
	SKX	D	-0.26%
	TPC	C	-0.26%
	MHO	D	-0.25%
	ASO	F	-0.24%
	NSIT	F	-0.24%
	CPAY	A	-0.23%
	WTTR	A	-0.23%
	MHK	D	-0.22%
	WFRD	D	-0.22%
	MBIN	F	-0.22%
	GNW	A	-0.21%
	SIGA	F	-0.21%
	THC	D	-0.2%
	CVCO	A	-0.2%
	AX	B	-0.2%
	CAL	F	-0.2%
	SPOT	B	-0.2%
	AMWD	C	-0.2%
	ASC	F	-0.2%
	PPC	C	-0.2%
	GMS	B	-0.2%
	CROX	D	-0.2%
	AMRX	C	-0.19%
	AHCO	F	-0.19%
	ATGE	B	-0.19%
	HWKN	B	-0.19%
	BLD	D	-0.19%
	STNG	F	-0.18%
	NVR	D	-0.18%
	PLUS	F	-0.18%
	TILE	B	-0.18%
	IMKTA	C	-0.18%
	BELFB	C	-0.18%
	REVG	C	-0.18%
	IESC	C	-0.18%
	TMHC	C	-0.18%
	CNOB	B	-0.18%
	BLX	B	-0.18%
	COOP	B	-0.17%
	SKYW	C	-0.17%
	ALKS	C	-0.17%
	CTRA	B	-0.17%
	PLAB	C	-0.17%
	MRC	B	-0.17%
	AGO	B	-0.17%
	BV	C	-0.16%
	TBBK	B	-0.16%
	DECK	A	-0.16%
	IDT	B	-0.16%
	CR	A	-0.16%
	BG	D	-0.16%
	KD	B	-0.16%
	DVA	C	-0.16%
	GNK	D	-0.16%
	OMI	F	-0.16%
	SFM	A	-0.16%
	SXC	A	-0.16%
	KEX	B	-0.16%
	ESAB	C	-0.15%
	PFGC	B	-0.15%
	DHT	F	-0.15%
	PYPL	B	-0.15%
	MEDP	D	-0.15%
	SCSC	C	-0.15%
	WABC	B	-0.14%
	DAKT	C	-0.14%
	FTI	A	-0.14%
	CVLT	B	-0.14%
	ETD	C	-0.14%
	NR	B	-0.14%
	AN	C	-0.14%
	CNXN	C	-0.14%
	ABCB	B	-0.14%
	TNK	F	-0.14%
	BBW	C	-0.14%
	PUMP	C	-0.14%
	LNTH	D	-0.14%
	SPOK	B	-0.13%
	VNT	C	-0.13%
	HBI	B	-0.13%
	EXPE	B	-0.13%
	HCC	B	-0.13%
	TPH	D	-0.13%
	NMRK	C	-0.13%
	INSW	F	-0.12%
	DNOW	B	-0.12%
	RCL	A	-0.12%
	PTGX	D	-0.12%
	ROCK	C	-0.12%
	BHLB	B	-0.12%
	ZEUS	C	-0.12%
	PSTG	D	-0.12%
	CPRX	C	-0.12%
	UA	C	-0.12%
	CYH	F	-0.12%
	IMMR	C	-0.12%
	URBN	C	-0.12%
	AGX	B	-0.12%
	BLDR	D	-0.12%
	SPTN	D	-0.11%
	SCHL	F	-0.11%
	HALO	F	-0.11%
	LPG	F	-0.11%
	SBSI	C	-0.11%
	CEIX	A	-0.11%
	REX	D	-0.11%
	CNX	A	-0.11%
	AMR	C	-0.11%
	ITRI	C	-0.1%
	DOX	D	-0.1%
	GRBK	D	-0.1%
	FLWS	D	-0.1%
	LRN	A	-0.1%
	VERX	A	-0.1%
	LYB	F	-0.1%
	SANM	B	-0.1%
	CDNA	D	-0.1%
	CRVL	B	-0.09%
	GRND	A	-0.09%
	ARW	D	-0.09%
	GPOR	B	-0.09%
	WLY	B	-0.09%
	MOG.A	B	-0.09%
	DXPE	C	-0.09%
	JELD	F	-0.09%
	INDB	B	-0.09%
	FDP	B	-0.08%
	PSMT	D	-0.08%
	ARCB	C	-0.08%
	SD	D	-0.08%
	HSTM	B	-0.08%
	ACCO	C	-0.08%
	CACI	D	-0.07%
	DOLE	D	-0.07%
	USAP	B	-0.07%
	DESP	B	-0.07%
	MTUS	C	-0.07%
	ZIMV	D	-0.07%
	PLPC	B	-0.07%
	BBSI	B	-0.07%
	HIMS	B	-0.07%
	HVT	D	-0.07%
	STRL	A	-0.07%
	NTGR	B	-0.07%
	VFC	C	-0.07%
	CNM	D	-0.07%
	RES	D	-0.07%
	MTH	D	-0.07%
	FN	C	-0.06%
	NHC	C	-0.06%
	UTI	B	-0.06%
	LOPE	C	-0.06%
	GOGL	F	-0.06%
	CENTA	C	-0.06%
	JILL	C	-0.06%
	CRUS	D	-0.06%
	AMZN	C	-0.06%
	NAT	F	-0.06%
	RNR	C	-0.06%
	OSUR	F	-0.05%
	TCBI	C	-0.05%
	CLW	F	-0.05%
	UFPT	C	-0.05%
	SCVL	F	-0.05%
	NX	C	-0.05%
	SN	D	-0.05%
	BJ	A	-0.05%
	DASH	B	-0.05%
	ZUMZ	B	-0.05%
	SUPN	C	-0.05%
	YOU	D	-0.05%
	MD	C	-0.05%
	ADMA	B	-0.05%
	LQDT	B	-0.05%
	OSBC	A	-0.05%
	LYTS	B	-0.05%
	SMLR	B	-0.04%
	CTS	C	-0.04%
	HOV	D	-0.04%
	HSII	B	-0.04%
	STGW	A	-0.04%
	SXI	B	-0.04%
	KFRC	D	-0.04%
	MBUU	B	-0.04%
	NSSC	D	-0.04%
	TNC	D	-0.04%
	WEX	D	-0.04%
	GEO	B	-0.04%
	PRMW	C	-0.04%
	EFSC	B	-0.04%
	CRAI	C	-0.04%
	ATEN	A	-0.03%
	GPI	B	-0.03%
	BSIG	A	-0.03%
	PRLB	B	-0.03%
	MOV	D	-0.03%
	CCRN	F	-0.03%
	HFWA	C	-0.03%
	BRY	F	-0.03%
	EPAC	C	-0.03%
	TCBK	C	-0.03%
	WNC	C	-0.03%
	DDS	B	-0.03%
	INGN	C	-0.02%
	VRA	C	-0.02%
	ATKR	D	-0.02%
	FFIV	B	-0.02%
	SB	F	-0.02%
	MBWM	B	-0.02%

DTD: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Asset Management Oil & Gas E&P Utilities - Regulated Electric Business Services Specialty Chemicals Capital Markets Insurance - Property & Casualty Packaged Foods Packaging & Containers Credit Services REIT - Retail Restaurants Utilities - Diversified Building Materials Semiconductors Aerospace & Defense Insurance - Life REIT - Industrial

Keywords: S&P 500 Bank Banking Natural Gas Insurance Nasdaq 100 Deposit Products Electricity Real Estate Investment Trust Chemical Mining Real Estate Loans Electronics Commercial Banking Aerospace Computing Investment Management Insurance Products Commercial Bank Plastic

VFMF: Top Represented Industries & Keywords

Industries: Banks - Regional - US Oil & Gas E&P Specialty Retail Residential Construction Shipping & Ports Asset Management Building Materials Oil & Gas Equipment & Services Apparel Manufacturing Credit Services Diversified Industrials Apparel Stores Business Services Electronic Components Software - Application Steel Banks - Global Biotechnology Education & Training Services Engineering & Construction

Keywords: S&P 500 Bank Banking Deposit Products Insurance Clothing Computing Construction Mining Natural Gas Nasdaq 100 Aerospace Building Materials Chemical Retail Store Commercial Banking Electronics Fashion Insurance Products Investment Management