FAB vs. VFVA ETF Comparison

Comparison of First Trust Multi Cap Value AlphaDEX Fund (FAB) to Vanguard Wellington Fund ETF (VFVA)

FAB

First Trust Multi Cap Value AlphaDEX Fund

FAB Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Multi Cap Value Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Composite 1500(R) Value Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$88.95

Average Daily Volume

2,527

Number of Holdings ^*

665

* may have additional holdings in another (foreign) market

VFVA

Vanguard Wellington Fund ETF

VFVA Description

The investment seeks to provide long-term capital appreciation by investing in stocks with relatively lower share prices relative to fundamental values 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 lower share prices relative to fundamental values 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

$128.27

Average Daily Volume

12,937

Number of Holdings ^*

613

* may have additional holdings in another (foreign) market

Performance

Period	FAB	VFVA
30 Days	6.40%	6.78%
60 Days	5.80%	7.36%
90 Days	6.32%	7.38%
12 Months	27.56%	28.66%

347 Overlapping Holdings

Symbol	Grade	Weight in FAB	Weight in VFVA	Overlap
ABCB	B	0.1%	0.16%	0.1%
ABG	B	0.14%	0.15%	0.14%
ADM	D	0.38%	0.23%	0.23%
ADNT	F	0.09%	0.19%	0.09%
AEO	F	0.11%	0.18%	0.11%
AFL	B	0.25%	0.09%	0.09%
AGCO	D	0.08%	0.18%	0.08%
AIG	B	0.45%	0.51%	0.45%
AL	B	0.23%	0.41%	0.23%
ALIT	C	0.05%	0.14%	0.05%
ALK	C	0.15%	0.23%	0.15%
ALKS	B	0.09%	0.02%	0.02%
ALLY	C	0.36%	0.25%	0.25%
AMG	B	0.23%	0.21%	0.21%
AMKR	D	0.15%	0.07%	0.07%
AMR	C	0.22%	0.2%	0.2%
AMWD	C	0.1%	0.06%	0.06%
ANDE	D	0.09%	0.12%	0.09%
APA	D	0.2%	0.22%	0.2%
APTV	D	0.33%	0.14%	0.14%
AR	B	0.09%	0.13%	0.09%
ARCB	C	0.08%	0.08%	0.08%
ARW	D	0.15%	0.43%	0.15%
ASB	B	0.06%	0.13%	0.06%
ASGN	F	0.08%	0.05%	0.05%
ASO	F	0.18%	0.21%	0.18%
ATKR	C	0.23%	0.26%	0.23%
AUB	B	0.05%	0.09%	0.05%
AVT	C	0.17%	0.25%	0.17%
AXS	A	0.14%	0.26%	0.14%
BAC	A	0.3%	0.76%	0.3%
BANR	B	0.09%	0.09%	0.09%
BBWI	D	0.17%	0.18%	0.17%
BC	C	0.12%	0.18%	0.12%
BCC	B	0.17%	0.07%	0.07%
BEN	C	0.18%	0.05%	0.05%
BERY	B	0.14%	0.38%	0.14%
BFH	B	0.15%	0.17%	0.15%
BG	F	0.4%	0.27%	0.27%
BHE	B	0.05%	0.02%	0.02%
BHF	B	0.03%	0.22%	0.03%
BHLB	B	0.03%	0.08%	0.03%
BKU	A	0.08%	0.15%	0.08%
BLDR	D	0.24%	0.08%	0.08%
BLMN	F	0.02%	0.04%	0.02%
BMBL	C	0.16%	0.19%	0.16%
BOKF	B	0.09%	0.08%	0.08%
BPOP	B	0.04%	0.06%	0.04%
BTU	B	0.13%	0.17%	0.13%
BUSE	B	0.08%	0.11%	0.08%
BV	B	0.1%	0.1%	0.1%
BWA	D	0.2%	0.25%	0.2%
BY	B	0.12%	0.04%	0.04%
BYD	C	0.15%	0.18%	0.15%
C	A	0.38%	0.72%	0.38%
CADE	B	0.21%	0.16%	0.16%
CAG	D	0.07%	0.16%	0.07%
CAL	D	0.11%	0.06%	0.06%
CATY	B	0.09%	0.09%	0.09%
CB	C	0.35%	0.48%	0.35%
CC	C	0.02%	0.02%	0.02%
CCS	D	0.11%	0.18%	0.11%
CE	F	0.24%	0.3%	0.24%
CF	B	0.35%	0.18%	0.18%
CFG	B	0.4%	0.13%	0.13%
CHRD	D	0.22%	0.18%	0.18%
CI	F	0.08%	0.66%	0.08%
CIVI	D	0.22%	0.33%	0.22%
CLF	F	0.15%	0.21%	0.15%
CMA	A	0.1%	0.15%	0.1%
CMC	B	0.23%	0.19%	0.19%
CMCO	B	0.1%	0.03%	0.03%
CMCSA	B	0.45%	0.68%	0.45%
CNC	D	0.27%	0.22%	0.22%
CNO	A	0.19%	0.04%	0.04%
CNXC	F	0.17%	0.06%	0.06%
COF	B	0.43%	0.66%	0.43%
COLB	A	0.15%	0.34%	0.15%
COOP	B	0.18%	0.13%	0.13%
COP	C	0.47%	0.65%	0.47%
CRBG	B	0.37%	0.02%	0.02%
CRC	B	0.1%	0.15%	0.1%
CRGY	B	0.13%	0.16%	0.13%
CSCO	B	0.19%	0.14%	0.14%
CTRA	B	0.46%	0.19%	0.19%
CUBI	C	0.15%	0.1%	0.1%
CVS	D	0.38%	0.74%	0.38%
CVX	A	0.48%	0.7%	0.48%
CXW	B	0.21%	0.07%	0.07%
DAL	C	0.56%	0.2%	0.2%
DAN	D	0.08%	0.17%	0.08%
DAR	C	0.19%	0.17%	0.17%
DE	A	0.24%	0.15%	0.15%
DG	F	0.32%	0.02%	0.02%
DGX	A	0.26%	0.03%	0.03%
DHI	D	0.3%	0.31%	0.3%
DINO	D	0.21%	0.16%	0.16%
DIS	B	0.2%	0.4%	0.2%
DNB	B	0.05%	0.09%	0.05%
DNOW	B	0.14%	0.09%	0.09%
DOW	F	0.21%	0.18%	0.18%
DVN	F	0.44%	0.08%	0.08%
DXC	B	0.18%	0.23%	0.18%
EBAY	D	0.24%	0.05%	0.05%
EBC	B	0.11%	0.07%	0.07%
ECVT	C	0.15%	0.14%	0.14%
EFSC	B	0.08%	0.17%	0.08%
EG	C	0.41%	0.17%	0.17%
EIG	B	0.14%	0.02%	0.02%
ELV	F	0.14%	0.07%	0.07%
EMN	D	0.12%	0.09%	0.09%
ENS	D	0.12%	0.12%	0.12%
EOG	A	0.48%	0.75%	0.48%
EPC	D	0.12%	0.02%	0.02%
EQT	B	0.41%	0.17%	0.17%
ESNT	D	0.19%	0.45%	0.19%
F	C	0.46%	0.68%	0.46%
FAF	A	0.04%	0.08%	0.04%
FANG	D	0.37%	0.3%	0.3%
FCF	A	0.08%	0.12%	0.08%
FDP	B	0.03%	0.11%	0.03%
FDX	B	0.37%	0.89%	0.37%
FFBC	A	0.11%	0.2%	0.11%
FHN	A	0.17%	0.1%	0.1%
FIBK	A	0.08%	0.07%	0.07%
FIVE	F	0.09%	0.11%	0.09%
FMC	D	0.18%	0.05%	0.05%
FNB	A	0.15%	0.19%	0.15%
FNF	B	0.17%	0.14%	0.14%
FOR	F	0.11%	0.03%	0.03%
FOXF	F	0.04%	0.09%	0.04%
FRME	B	0.09%	0.05%	0.05%
FULT	A	0.08%	0.1%	0.08%
GBX	A	0.16%	0.16%	0.16%
GD	F	0.08%	0.26%	0.08%
GEF	A	0.13%	0.05%	0.05%
GEO	B	0.1%	0.04%	0.04%
GHC	C	0.11%	0.05%	0.05%
GIII	D	0.13%	0.17%	0.13%
GL	B	0.13%	0.08%	0.08%
GM	B	0.56%	0.87%	0.56%
GNW	A	0.03%	0.12%	0.03%
GO	C	0.05%	0.02%	0.02%
GPI	A	0.18%	0.06%	0.06%
GPOR	B	0.13%	0.2%	0.13%
GPRE	F	0.02%	0.09%	0.02%
GRBK	D	0.06%	0.05%	0.05%
GT	C	0.13%	0.34%	0.13%
HAL	C	0.45%	0.07%	0.07%
HCC	B	0.22%	0.19%	0.19%
HELE	C	0.13%	0.18%	0.13%
HGV	B	0.1%	0.02%	0.02%
HIG	B	0.35%	0.07%	0.07%
HII	D	0.1%	0.11%	0.1%
HLF	C	0.05%	0.07%	0.05%
HOG	D	0.18%	0.18%	0.18%
HOPE	B	0.08%	0.1%	0.08%
HOV	D	0.1%	0.03%	0.03%
HPE	B	0.46%	0.32%	0.32%
HPQ	B	0.18%	0.42%	0.18%
HRI	B	0.18%	0.22%	0.18%
HUBG	A	0.08%	0.04%	0.04%
HWC	B	0.1%	0.19%	0.1%
HY	D	0.08%	0.03%	0.03%
IART	C	0.13%	0.11%	0.11%
IMKTA	C	0.12%	0.17%	0.12%
INDB	B	0.12%	0.07%	0.07%
INGR	B	0.14%	0.17%	0.14%
INTC	D	0.37%	0.66%	0.37%
IP	B	0.3%	0.02%	0.02%
IVZ	B	0.04%	0.19%	0.04%
JAZZ	B	0.19%	0.17%	0.17%
JBL	B	0.14%	0.03%	0.03%
JEF	A	0.05%	0.17%	0.05%
JNJ	D	0.16%	0.18%	0.16%
JXN	C	0.24%	0.15%	0.15%
KALU	C	0.08%	0.04%	0.04%
KBH	D	0.16%	0.21%	0.16%
KEY	B	0.2%	0.19%	0.19%
KFY	B	0.09%	0.07%	0.07%
KHC	F	0.23%	0.1%	0.1%
KMI	A	0.42%	0.11%	0.11%
KNX	B	0.09%	0.19%	0.09%
KOS	F	0.13%	0.19%	0.13%
KR	B	0.36%	0.22%	0.22%
LBRT	D	0.2%	0.05%	0.05%
LC	A	0.07%	0.03%	0.03%
LEA	D	0.19%	0.17%	0.17%
LEN	D	0.4%	0.08%	0.08%
LEN	D	0.4%	0.19%	0.19%
LILAK	D	0.07%	0.19%	0.07%
LKQ	D	0.13%	0.16%	0.13%
LNC	B	0.19%	0.32%	0.19%
LYB	F	0.38%	0.3%	0.3%
LZB	B	0.1%	0.14%	0.1%
M	D	0.17%	0.22%	0.17%
MAT	D	0.04%	0.09%	0.04%
MATX	C	0.2%	0.21%	0.2%
MDT	D	0.08%	0.42%	0.08%
MDU	D	0.16%	0.18%	0.16%
MHO	D	0.19%	0.19%	0.19%
MLI	C	0.1%	0.22%	0.1%
MLKN	D	0.1%	0.07%	0.07%
MODG	F	0.08%	0.09%	0.08%
MOS	F	0.17%	0.23%	0.17%
MPC	D	0.42%	0.56%	0.42%
MRC	B	0.11%	0.04%	0.04%
MS	A	0.32%	0.32%	0.32%
MTB	A	0.31%	0.18%	0.18%
MTDR	B	0.26%	0.18%	0.18%
MTG	C	0.21%	0.28%	0.21%
MTH	D	0.19%	0.05%	0.05%
MUR	D	0.21%	0.29%	0.21%
NAVI	C	0.1%	0.13%	0.1%
NBTB	B	0.03%	0.08%	0.03%
NIC	B	0.06%	0.07%	0.06%
NMRK	B	0.02%	0.16%	0.02%
NNI	D	0.02%	0.06%	0.02%
NOG	A	0.25%	0.07%	0.07%
NOV	C	0.22%	0.19%	0.19%
NUE	C	0.43%	0.38%	0.38%
NWBI	B	0.05%	0.05%	0.05%
NWSA	B	0.19%	0.14%	0.14%
NX	C	0.08%	0.09%	0.08%
NXST	C	0.13%	0.05%	0.05%
OC	A	0.39%	0.07%	0.07%
ODP	F	0.04%	0.18%	0.04%
OEC	C	0.1%	0.07%	0.07%
OFG	B	0.05%	0.05%	0.05%
OGN	D	0.1%	0.15%	0.1%
OI	C	0.02%	0.27%	0.02%
OLN	D	0.11%	0.14%	0.11%
OLPX	D	0.02%	0.03%	0.02%
OMF	A	0.15%	0.07%	0.07%
OMI	F	0.06%	0.16%	0.06%
ORI	A	0.09%	0.13%	0.09%
OVV	B	0.25%	0.26%	0.25%
OXY	D	0.43%	0.5%	0.43%
OZK	B	0.19%	0.12%	0.12%
PARR	D	0.12%	0.16%	0.12%
PATK	D	0.05%	0.09%	0.05%
PBF	D	0.22%	0.18%	0.18%
PCAR	B	0.51%	0.42%	0.42%
PEBO	A	0.12%	0.11%	0.11%
PFBC	B	0.09%	0.02%	0.02%
PFG	D	0.09%	0.06%	0.06%
PFS	B	0.03%	0.06%	0.03%
PHIN	A	0.11%	0.1%	0.1%
PHM	D	0.39%	0.11%	0.11%
PII	D	0.1%	0.08%	0.08%
PINC	B	0.14%	0.02%	0.02%
PLAB	C	0.12%	0.12%	0.12%
PNC	B	0.2%	0.33%	0.2%
PNFP	B	0.05%	0.11%	0.05%
PPBI	B	0.03%	0.11%	0.03%
PRDO	B	0.12%	0.28%	0.12%
PRGO	B	0.04%	0.24%	0.04%
PRU	A	0.18%	0.28%	0.18%
PSX	C	0.43%	0.71%	0.43%
PTEN	C	0.23%	0.21%	0.21%
PTVE	B	0.08%	0.03%	0.03%
PVH	C	0.22%	0.21%	0.21%
PYPL	B	0.09%	0.24%	0.09%
R	B	0.2%	0.41%	0.2%
RDN	C	0.21%	0.28%	0.21%
REZI	A	0.13%	0.14%	0.13%
RF	A	0.29%	0.1%	0.1%
RGA	A	0.18%	0.04%	0.04%
RJF	A	0.23%	0.08%	0.08%
RNR	C	0.2%	0.2%	0.2%
RNST	B	0.08%	0.1%	0.08%
RRC	B	0.19%	0.1%	0.1%
RS	B	0.47%	0.02%	0.02%
RUSHA	C	0.2%	0.06%	0.06%
SANM	B	0.15%	0.07%	0.07%
SASR	B	0.09%	0.11%	0.09%
SBH	C	0.1%	0.16%	0.1%
SCSC	B	0.1%	0.11%	0.1%
SCVL	F	0.06%	0.03%	0.03%
SEB	F	0.11%	0.16%	0.11%
SHLS	F	0.02%	0.03%	0.02%
SJM	D	0.12%	0.15%	0.12%
SLB	C	0.36%	0.69%	0.36%
SLM	A	0.09%	0.03%	0.03%
SM	B	0.24%	0.22%	0.22%
SNDR	B	0.08%	0.15%	0.08%
SNEX	B	0.06%	0.07%	0.06%
SNX	C	0.12%	0.24%	0.12%
SON	D	0.12%	0.21%	0.12%
SRCE	B	0.08%	0.08%	0.08%
SSB	B	0.05%	0.08%	0.05%
SSNC	B	0.17%	0.08%	0.08%
STBA	B	0.05%	0.26%	0.05%
STC	B	0.02%	0.1%	0.02%
STLD	B	0.48%	0.13%	0.13%
STT	A	0.27%	0.02%	0.02%
SYF	B	0.57%	0.33%	0.33%
T	A	0.44%	1.01%	0.44%
TALO	C	0.14%	0.04%	0.04%
TAP	C	0.23%	0.16%	0.16%
TCBK	B	0.08%	0.06%	0.06%
TDS	B	0.13%	0.12%	0.12%
TEX	D	0.21%	0.21%	0.21%
TGNA	B	0.14%	0.2%	0.14%
TGT	F	0.25%	0.27%	0.25%
TKR	D	0.08%	0.09%	0.08%
TMHC	B	0.22%	0.06%	0.06%
TOL	B	0.43%	0.16%	0.16%
TOWN	B	0.05%	0.05%	0.05%
TPH	D	0.2%	0.21%	0.2%
TPR	B	0.05%	0.04%	0.04%
TRMK	B	0.12%	0.07%	0.07%
TRV	B	0.28%	0.48%	0.28%
TSN	B	0.19%	0.07%	0.07%
TTMI	B	0.07%	0.25%	0.07%
TXT	D	0.25%	0.09%	0.09%
UAL	A	0.7%	0.29%	0.29%
UCB	A	0.05%	0.02%	0.02%
UFPI	B	0.09%	0.11%	0.09%
UHAL	D	0.07%	0.22%	0.07%
UHS	D	0.15%	0.16%	0.15%
UNM	A	0.21%	0.6%	0.21%
UPBD	B	0.02%	0.07%	0.02%
URBN	C	0.22%	0.07%	0.07%
USB	A	0.28%	0.71%	0.28%
VAC	B	0.13%	0.09%	0.09%
VBTX	B	0.08%	0.13%	0.08%
VLO	C	0.45%	0.66%	0.45%
VLY	B	0.14%	0.09%	0.09%
VSCO	B	0.1%	0.06%	0.06%
VSH	D	0.11%	0.07%	0.07%
VTRS	A	0.38%	0.25%	0.25%
VZ	C	0.32%	0.8%	0.32%
WAFD	B	0.05%	0.21%	0.05%
WAL	B	0.05%	0.18%	0.05%
WBS	A	0.17%	0.22%	0.17%
WCC	B	0.16%	0.2%	0.16%
WERN	C	0.08%	0.03%	0.03%
WFC	A	0.45%	0.59%	0.45%
WHR	B	0.14%	0.21%	0.14%
WKC	D	0.11%	0.16%	0.11%
WMK	C	0.11%	0.03%	0.03%
WSBC	A	0.09%	0.08%	0.08%
XOM	B	0.45%	0.86%	0.45%
XRX	F	0.08%	0.05%	0.05%
ZD	C	0.12%	0.17%	0.12%
ZION	B	0.16%	0.16%	0.16%

FAB Overweight 319 Positions Relative to VFVA

Symbol	Grade	Weight
FOXA	B	0.49%
CINF	A	0.48%
TROW	B	0.48%
HBAN	A	0.42%
LNG	B	0.41%
ETR	B	0.39%
SRE	A	0.38%
CTSH	B	0.37%
L	A	0.37%
XEL	A	0.37%
CNP	B	0.36%
AEE	A	0.36%
ATO	A	0.36%
ZBH	C	0.35%
EXC	C	0.33%
SNA	A	0.32%
ED	D	0.32%
ON	D	0.32%
CHTR	C	0.31%
SWKS	F	0.3%
BKR	B	0.3%
TDY	B	0.28%
LUV	C	0.28%
FITB	A	0.28%
NI	A	0.27%
PPL	B	0.26%
AGO	B	0.25%
D	C	0.25%
LNT	A	0.25%
EQR	B	0.25%
ULTA	F	0.25%
CNX	A	0.25%
DTE	C	0.24%
OSK	B	0.24%
HP	B	0.24%
HRL	D	0.24%
DUK	C	0.24%
SYY	B	0.24%
BBY	D	0.23%
STX	D	0.23%
AEP	D	0.23%
BIIB	F	0.22%
NFE	D	0.22%
AKAM	D	0.22%
OKE	A	0.21%
ZM	B	0.21%
G	B	0.2%
RIOT	C	0.2%
LBRDK	C	0.2%
UGI	A	0.2%
LAD	A	0.2%
KIM	A	0.19%
JBHT	C	0.19%
PKG	A	0.19%
MGY	A	0.19%
DDS	B	0.19%
KRC	C	0.18%
OTTR	C	0.18%
GBDC	C	0.18%
BKH	A	0.18%
PNW	B	0.18%
ADTN	A	0.18%
DRI	B	0.18%
CSX	B	0.18%
AAP	C	0.18%
POR	C	0.17%
CMS	C	0.17%
NVR	D	0.17%
SOLV	C	0.17%
SR	A	0.17%
HST	C	0.17%
NFG	A	0.17%
EVRG	A	0.17%
WEC	A	0.17%
MOH	F	0.16%
KDP	D	0.16%
HUM	C	0.16%
ARE	D	0.16%
SUM	B	0.16%
FE	C	0.16%
DOC	D	0.16%
CARR	D	0.16%
PPG	F	0.16%
HSY	F	0.16%
SIG	B	0.16%
EIX	B	0.16%
CTOS	C	0.15%
WLK	D	0.15%
JBT	B	0.15%
GIS	D	0.15%
HTZ	C	0.15%
GPC	D	0.15%
RIG	D	0.14%
KMT	B	0.14%
ULH	B	0.14%
GMS	B	0.14%
VTLE	C	0.14%
CABO	C	0.14%
WS	B	0.13%
SPNT	A	0.13%
THO	B	0.13%
OGS	A	0.13%
PAG	B	0.13%
PK	B	0.13%
APLE	B	0.13%
RLJ	C	0.13%
OGE	B	0.13%
SWX	B	0.13%
RES	D	0.12%
ASH	D	0.12%
AVA	A	0.12%
VC	D	0.12%
POST	C	0.12%
AN	C	0.12%
SHO	C	0.12%
INVA	D	0.12%
UVV	B	0.12%
KSS	F	0.11%
SAH	A	0.11%
DBRG	F	0.11%
USM	B	0.11%
WU	D	0.11%
NWE	B	0.1%
CMI	A	0.1%
ODFL	B	0.1%
ABR	C	0.1%
IDA	A	0.1%
PRG	C	0.1%
PB	A	0.1%
UBSI	B	0.1%
EQC	B	0.1%
NWN	A	0.1%
VNT	B	0.1%
CENTA	C	0.1%
LADR	B	0.1%
BECN	B	0.1%
CVI	F	0.1%
SEIC	B	0.1%
DRH	B	0.1%
WTFC	A	0.1%
GES	F	0.1%
HD	A	0.09%
WTRG	B	0.09%
TNET	D	0.09%
MSM	C	0.09%
CRL	C	0.09%
OMC	C	0.09%
CLX	B	0.09%
SBUX	A	0.09%
ACN	C	0.09%
COLM	B	0.09%
CRK	B	0.09%
JWN	C	0.09%
SLGN	A	0.09%
CASH	A	0.09%
LHX	C	0.09%
BNL	D	0.09%
PDCO	D	0.09%
WRB	A	0.09%
PLYA	B	0.09%
CUZ	B	0.09%
LPX	B	0.09%
PNM	F	0.09%
APD	A	0.09%
LH	C	0.09%
IEX	B	0.09%
J	F	0.09%
CVBF	A	0.09%
AIZ	A	0.09%
ACA	A	0.09%
VSTS	C	0.09%
HIW	D	0.09%
MDLZ	F	0.08%
WPC	D	0.08%
WGO	C	0.08%
AWK	D	0.08%
REYN	D	0.08%
MCRI	A	0.08%
CPB	D	0.08%
WY	D	0.08%
LMT	D	0.08%
EXPD	D	0.08%
ALG	B	0.08%
SKX	D	0.08%
DD	D	0.08%
IPG	D	0.08%
MAS	D	0.08%
LAUR	A	0.08%
HOLX	D	0.08%
BKE	B	0.08%
FTV	C	0.08%
KEYS	A	0.08%
WSFS	A	0.08%
PEP	F	0.08%
UPS	C	0.08%
CTVA	C	0.08%
NDSN	B	0.08%
SFNC	B	0.08%
MIDD	C	0.08%
MAA	B	0.08%
VRTS	B	0.08%
LOW	D	0.08%
SJW	D	0.07%
PEB	D	0.07%
MRTN	C	0.07%
SPB	C	0.07%
UNF	B	0.07%
NKE	D	0.07%
KLG	C	0.07%
IPGP	D	0.07%
DIOD	D	0.07%
XHR	B	0.07%
MMS	F	0.07%
SBCF	A	0.06%
GOGO	C	0.06%
FBNC	A	0.06%
CSGS	B	0.06%
AMN	F	0.06%
FHI	A	0.06%
PBH	A	0.06%
KAR	B	0.06%
DFH	D	0.06%
HMN	B	0.06%
FHB	A	0.06%
CRI	D	0.06%
CAR	C	0.06%
VSAT	F	0.06%
SSTK	F	0.06%
LGIH	D	0.06%
AFG	A	0.05%
BJ	A	0.05%
ROG	D	0.05%
FLR	B	0.05%
DFIN	D	0.05%
SEM	B	0.05%
DEA	D	0.05%
MUSA	A	0.05%
SHEN	F	0.05%
THRM	D	0.05%
YETI	C	0.05%
LCII	C	0.05%
PFGC	B	0.05%
PSMT	C	0.05%
RHI	B	0.05%
SYNA	C	0.05%
SCL	C	0.05%
CXT	B	0.05%
ARI	C	0.05%
ALEX	C	0.05%
GXO	B	0.05%
LNN	B	0.05%
KWR	C	0.05%
HTH	B	0.05%
UMBF	B	0.05%
DK	C	0.05%
ROCK	C	0.05%
ABM	B	0.05%
ENOV	C	0.05%
MTX	B	0.05%
EPAM	C	0.05%
IOSP	B	0.05%
UPWK	B	0.04%
MYRG	B	0.04%
FBIN	D	0.04%
NSP	D	0.04%
IAC	D	0.04%
HSIC	B	0.04%
AVNS	F	0.04%
RYN	D	0.04%
CZR	F	0.04%
LFUS	F	0.04%
TTC	D	0.04%
WD	D	0.04%
FUL	F	0.04%
MGM	D	0.04%
STWD	C	0.04%
SEE	C	0.04%
LSTR	D	0.04%
NJR	A	0.04%
AVNT	B	0.04%
FELE	B	0.04%
SKY	A	0.04%
WTS	B	0.04%
VOYA	B	0.04%
AIR	B	0.03%
HAYW	B	0.03%
SAFT	C	0.03%
MTRN	C	0.03%
XPEL	C	0.03%
DEI	B	0.03%
HLIO	B	0.03%
IVT	B	0.03%
CVCO	A	0.03%
ROIC	A	0.03%
SAM	C	0.03%
CBU	B	0.03%
FBK	B	0.03%
MCW	B	0.03%
MGPI	F	0.03%
TCBI	B	0.03%
OPCH	D	0.03%
PLUS	F	0.02%
GIC	D	0.02%
JBGS	D	0.02%
OXM	D	0.02%
CWEN	C	0.02%
SHOO	D	0.02%
AIN	C	0.02%
MSGE	F	0.02%
LXP	D	0.02%
RC	D	0.02%
CMTG	F	0.02%
CNXN	C	0.02%
NVEE	F	0.02%
KFRC	D	0.02%
CNMD	C	0.02%
MSEX	B	0.02%
EVTC	B	0.02%
PGRE	F	0.02%

FAB Underweight 266 Positions Relative to VFVA

Symbol	Grade	Weight
MO	A	-1.0%
HCA	F	-0.76%
TFC	A	-0.73%
MU	D	-0.59%
JPM	A	-0.54%
FI	A	-0.53%
MET	A	-0.52%
BK	A	-0.5%
BMY	B	-0.46%
GILD	C	-0.44%
GS	A	-0.44%
FCX	D	-0.43%
RPRX	D	-0.41%
NEM	D	-0.4%
PFE	D	-0.36%
WMB	A	-0.35%
MCK	B	-0.35%
FOX	A	-0.33%
GTES	A	-0.3%
TMUS	B	-0.3%
BDX	F	-0.29%
MHK	D	-0.28%
CAH	B	-0.26%
AZO	C	-0.26%
INSW	F	-0.24%
CCL	B	-0.23%
FIS	C	-0.22%
LEG	F	-0.22%
TNL	A	-0.21%
ONB	B	-0.21%
SNV	B	-0.2%
DBX	B	-0.2%
ZI	D	-0.2%
ACGL	D	-0.2%
TROX	D	-0.2%
SIRI	C	-0.2%
PUMP	B	-0.19%
PCRX	C	-0.19%
STNG	F	-0.19%
TNK	F	-0.18%
HAIN	C	-0.18%
IBM	C	-0.18%
AHCO	F	-0.18%
CCSI	C	-0.18%
PR	B	-0.17%
ALL	A	-0.17%
ATSG	B	-0.17%
MD	B	-0.17%
DTM	B	-0.17%
GTN	F	-0.17%
RNG	B	-0.17%
SLVM	B	-0.16%
AXL	C	-0.16%
ASIX	A	-0.16%
GNK	D	-0.16%
COMM	D	-0.16%
OCFC	B	-0.16%
KOP	C	-0.16%
ALSN	B	-0.16%
BXC	B	-0.16%
CNH	C	-0.16%
DIN	C	-0.15%
GLNG	C	-0.15%
MBUU	C	-0.15%
WWW	B	-0.15%
NUS	D	-0.15%
UTHR	C	-0.15%
ST	F	-0.15%
MCB	B	-0.15%
TWI	F	-0.15%
SPTN	D	-0.15%
CEIX	A	-0.14%
ELAN	D	-0.14%
SF	B	-0.14%
IRWD	F	-0.14%
TPC	C	-0.14%
RTX	C	-0.14%
SNCY	C	-0.14%
RMAX	C	-0.14%
PLTK	B	-0.14%
EMR	A	-0.14%
ASC	F	-0.14%
BRY	F	-0.14%
DLX	B	-0.14%
TDOC	C	-0.13%
LPG	F	-0.13%
BGS	F	-0.13%
BELFB	C	-0.13%
JELD	F	-0.13%
HRB	D	-0.13%
PM	B	-0.13%
GOGL	F	-0.13%
NWL	B	-0.13%
UNFI	A	-0.12%
GDOT	D	-0.12%
NAT	F	-0.12%
QRVO	F	-0.12%
RRX	B	-0.12%
HLX	B	-0.12%
MAN	D	-0.12%
DCOM	A	-0.12%
RPAY	D	-0.12%
CMRE	C	-0.12%
DOLE	D	-0.12%
JLL	D	-0.12%
RYI	C	-0.12%
DHT	F	-0.12%
FCNCA	A	-0.12%
BANC	A	-0.12%
APPS	F	-0.12%
SXC	A	-0.12%
STNE	F	-0.11%
SKYW	B	-0.11%
CLW	F	-0.11%
EYE	C	-0.11%
MTCH	D	-0.11%
MATV	D	-0.11%
MTUS	C	-0.11%
OMCL	C	-0.11%
ATGE	B	-0.11%
JRVR	F	-0.11%
GAP	C	-0.1%
SCHW	B	-0.1%
TK	D	-0.1%
GPN	B	-0.1%
CSTM	F	-0.1%
SAIC	F	-0.1%
LULU	C	-0.1%
SD	D	-0.1%
EGBN	B	-0.1%
DLTR	F	-0.1%
EGY	D	-0.1%
CHGG	D	-0.1%
FL	F	-0.09%
SMP	B	-0.09%
GCO	B	-0.09%
SATS	D	-0.09%
UVE	B	-0.09%
VTOL	B	-0.09%
BZH	B	-0.09%
NVST	B	-0.09%
HBI	B	-0.09%
SCHL	D	-0.09%
HVT	D	-0.09%
NTB	B	-0.09%
HEES	B	-0.08%
SFL	D	-0.08%
RYAM	C	-0.08%
BOOM	F	-0.08%
CWK	B	-0.08%
PLAY	D	-0.08%
NTCT	C	-0.08%
ACCO	C	-0.08%
EAT	A	-0.08%
SB	F	-0.08%
EWBC	A	-0.08%
PBI	B	-0.07%
WYNN	D	-0.07%
PAGS	F	-0.07%
MTW	C	-0.07%
TRST	A	-0.07%
DXPE	B	-0.07%
AX	A	-0.07%
CCRN	F	-0.07%
MMM	D	-0.07%
HAFC	A	-0.07%
VREX	C	-0.07%
EQH	B	-0.07%
CNA	B	-0.07%
ZEUS	C	-0.07%
HI	C	-0.07%
QCOM	F	-0.07%
REVG	B	-0.07%
EMBC	C	-0.07%
NMIH	D	-0.07%
BBW	B	-0.07%
COHR	B	-0.07%
JHG	A	-0.07%
LBRDA	C	-0.06%
ALGT	B	-0.06%
LXU	B	-0.06%
GOOG	C	-0.06%
PENN	C	-0.06%
CROX	D	-0.06%
FWRD	D	-0.06%
UIS	B	-0.06%
XRAY	F	-0.06%
DENN	D	-0.06%
GPK	C	-0.06%
OIS	C	-0.06%
BUR	C	-0.06%
SSP	F	-0.06%
KELYA	F	-0.06%
REPX	A	-0.06%
ENVA	B	-0.05%
PRLB	A	-0.05%
BW	D	-0.05%
GATX	A	-0.05%
HFWA	B	-0.05%
REX	D	-0.05%
LILA	D	-0.05%
WBD	C	-0.05%
RGP	F	-0.05%
CNOB	B	-0.05%
TTEC	F	-0.05%
PFSI	D	-0.05%
MATW	C	-0.05%
TWLO	A	-0.05%
APO	B	-0.05%
HZO	D	-0.04%
GLDD	B	-0.04%
VRNT	C	-0.04%
WTTR	B	-0.04%
HNRG	B	-0.04%
WNC	C	-0.04%
MKL	A	-0.04%
AMPY	C	-0.04%
XPOF	C	-0.04%
NCLH	B	-0.04%
ETWO	F	-0.04%
FFWM	C	-0.04%
PPC	C	-0.04%
DESP	B	-0.04%
THG	A	-0.04%
MOV	C	-0.04%
UA	C	-0.04%
RDUS	C	-0.04%
CFFN	B	-0.04%
ANET	C	-0.03%
IGT	F	-0.03%
ACT	D	-0.03%
NBHC	B	-0.03%
ESI	A	-0.03%
MBIN	D	-0.03%
CG	A	-0.03%
CNDT	C	-0.03%
SWI	B	-0.03%
JILL	C	-0.03%
FF	D	-0.03%
QCRH	A	-0.03%
HRTG	C	-0.03%
AMBC	C	-0.03%
AMAL	B	-0.03%
INMD	C	-0.03%
USAP	B	-0.03%
ZIMV	D	-0.03%
DRVN	B	-0.03%
IIIN	C	-0.03%
TBRG	B	-0.02%
NR	B	-0.02%
CMPR	D	-0.02%
NFBK	B	-0.02%
KODK	B	-0.02%
TITN	C	-0.02%
HDSN	F	-0.02%
BAND	B	-0.02%
TTI	C	-0.02%
VYX	B	-0.02%
AMRX	C	-0.02%
HOMB	A	-0.02%
BRKL	B	-0.02%
FSLR	F	-0.02%
WRLD	C	-0.02%
MEI	D	-0.02%
PRA	C	-0.02%
OBK	B	-0.02%