FNDX vs. VBR ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to Vanguard Small-Cap Value ETF - DNQ (VBR)

FNDX

Schwab Fundamental U.S. Large Company Index ETF

FNDX Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Large Company Index. The index selects, ranks, and weights securities by fundamental measures of company size - adjusted sales, retained operating cash flow, and dividends plus buybacks - rather than market capitalization. Under normal circumstances, the fund will invest at least 90% of its net assets in stocks included in the index. It may invest up to 10% of its net assets in securities not included in the index.

Grade (RS Rating)

Last Trade

$24.83

Average Daily Volume

1,186,729

Number of Holdings ^*

721

* may have additional holdings in another (foreign) market

VBR

Vanguard Small-Cap Value ETF - DNQ

VBR Description

The investment seeks to track the performance of a benchmark index that measures the investment return of small-capitalization value stocks. The fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Value Index, a broadly diversified index of value stocks of small U.S. companies. 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

$214.02

Average Daily Volume

435,439

Number of Holdings ^*

794

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	VBR
30 Days	3.67%	7.07%
60 Days	4.58%	7.22%
90 Days	6.53%	8.68%
12 Months	29.67%	33.95%

256 Overlapping Holdings

	Symbol	Grade	Weight in FNDX	Weight in VBR	Overlap
	AA	B	0.06%	0.3%	0.06%
	AAL	B	0.01%	0.26%	0.01%
	AAP	C	0.03%	0.06%	0.03%
	ABG	B	0.03%	0.13%	0.03%
	ABM	B	0.02%	0.1%	0.02%
	ACI	C	0.03%	0.17%	0.03%
	ACM	A	0.05%	0.42%	0.05%
	AEO	F	0.01%	0.1%	0.01%
	AES	F	0.05%	0.34%	0.05%
	AFG	A	0.05%	0.28%	0.05%
	AGCO	D	0.03%	0.19%	0.03%
	AIZ	A	0.03%	0.29%	0.03%
	AL	B	0.02%	0.13%	0.02%
	ALB	C	0.03%	0.16%	0.03%
	ALK	C	0.02%	0.18%	0.02%
	ALLE	D	0.01%	0.36%	0.01%
	ALLY	C	0.1%	0.28%	0.1%
	ALSN	B	0.05%	0.27%	0.05%
	AMG	B	0.04%	0.16%	0.04%
	AN	C	0.05%	0.15%	0.05%
	ANDE	D	0.01%	0.04%	0.01%
	APA	D	0.03%	0.26%	0.03%
	AR	B	0.03%	0.11%	0.03%
	ARCH	B	0.02%	0.07%	0.02%
	ARMK	B	0.03%	0.29%	0.03%
	ARW	D	0.08%	0.18%	0.08%
	ASGN	F	0.02%	0.11%	0.02%
	ASO	F	0.02%	0.11%	0.02%
	ATO	A	0.04%	0.58%	0.04%
	ATR	B	0.02%	0.33%	0.02%
	AVT	C	0.07%	0.14%	0.07%
	AXTA	A	0.02%	0.24%	0.02%
	AYI	B	0.04%	0.27%	0.04%
	BAH	F	0.03%	0.69%	0.03%
	BBWI	D	0.03%	0.18%	0.03%
	BC	C	0.03%	0.15%	0.03%
	BCC	B	0.04%	0.15%	0.04%
	BECN	B	0.02%	0.17%	0.02%
	BEN	C	0.04%	0.1%	0.04%
	BERY	B	0.04%	0.22%	0.04%
	BFH	B	0.05%	0.07%	0.05%
	BG	F	0.1%	0.35%	0.1%
	BJ	A	0.02%	0.33%	0.02%
	BLDR	D	0.06%	0.58%	0.06%
	BPOP	B	0.02%	0.19%	0.02%
	BRX	A	0.02%	0.24%	0.02%
	BTU	B	0.03%	0.09%	0.03%
	BWA	D	0.05%	0.22%	0.05%
	BXP	D	0.05%	0.33%	0.05%
	CACI	D	0.03%	0.36%	0.03%
	CAR	C	0.03%	0.04%	0.03%
	CC	C	0.02%	0.08%	0.02%
	CCK	C	0.04%	0.33%	0.04%
	CG	A	0.03%	0.34%	0.03%
	CHRW	C	0.08%	0.34%	0.08%
	CLF	F	0.03%	0.18%	0.03%
	CMA	A	0.07%	0.25%	0.07%
	CMC	B	0.03%	0.18%	0.03%
	CNO	A	0.04%	0.1%	0.04%
	CNX	A	0.01%	0.14%	0.01%
	CNXC	F	0.01%	0.07%	0.01%
	COHR	B	0.02%	0.21%	0.02%
	CPRI	F	0.01%	0.06%	0.01%
	CPT	B	0.02%	0.36%	0.02%
	CRI	D	0.01%	0.05%	0.01%
	CSL	C	0.05%	0.57%	0.05%
	DAN	D	0.01%	0.03%	0.01%
	DCI	B	0.02%	0.26%	0.02%
	DINO	D	0.05%	0.18%	0.05%
	DK	C	0.01%	0.03%	0.01%
	DKS	C	0.04%	0.23%	0.04%
	DOC	D	0.03%	0.23%	0.03%
	DVA	B	0.06%	0.17%	0.06%
	DXC	B	0.05%	0.1%	0.05%
	EHC	B	0.02%	0.29%	0.02%
	EME	C	0.06%	0.61%	0.06%
	EMN	D	0.08%	0.36%	0.08%
	EPAM	C	0.02%	0.3%	0.02%
	EQH	B	0.05%	0.42%	0.05%
	EVR	B	0.04%	0.28%	0.04%
	EVRG	A	0.07%	0.19%	0.07%
	EWBC	A	0.03%	0.39%	0.03%
	FAF	A	0.04%	0.18%	0.04%
	FBIN	D	0.04%	0.3%	0.04%
	FCNCA	A	0.02%	0.61%	0.02%
	FFIV	B	0.03%	0.4%	0.03%
	FHN	A	0.03%	0.27%	0.03%
	FL	F	0.03%	0.06%	0.03%
	FLO	D	0.02%	0.12%	0.02%
	FLR	B	0.03%	0.26%	0.03%
	FMC	D	0.03%	0.24%	0.03%
	FYBR	D	0.04%	0.26%	0.04%
	G	B	0.03%	0.2%	0.03%
	GAP	C	0.04%	0.15%	0.04%
	GL	B	0.03%	0.28%	0.03%
	GLPI	C	0.02%	0.38%	0.02%
	GNW	A	0.03%	0.09%	0.03%
	GPI	A	0.05%	0.14%	0.05%
	GPK	C	0.03%	0.25%	0.03%
	GT	C	0.04%	0.07%	0.04%
	HAS	D	0.03%	0.25%	0.03%
	HBI	B	0.03%	0.07%	0.03%
	HII	D	0.03%	0.21%	0.03%
	HOG	D	0.02%	0.11%	0.02%
	HRB	D	0.01%	0.24%	0.01%
	HSIC	B	0.04%	0.26%	0.04%
	HTZ	C	0.01%	0.01%	0.01%
	HUBB	B	0.03%	0.33%	0.03%
	HUBG	A	0.02%	0.07%	0.02%
	HUN	F	0.03%	0.11%	0.03%
	IEX	B	0.03%	0.47%	0.03%
	INGR	B	0.05%	0.25%	0.05%
	IPG	D	0.04%	0.32%	0.04%
	ITT	A	0.03%	0.33%	0.03%
	IVZ	B	0.05%	0.22%	0.05%
	JAZZ	B	0.01%	0.19%	0.01%
	JBL	B	0.06%	0.39%	0.06%
	JEF	A	0.06%	0.27%	0.06%
	JHG	A	0.03%	0.15%	0.03%
	JLL	D	0.08%	0.38%	0.08%
	JNPR	F	0.05%	0.37%	0.05%
	JWN	C	0.01%	0.09%	0.01%
	JXN	C	0.04%	0.22%	0.04%
	KBH	D	0.03%	0.15%	0.03%
	KBR	F	0.02%	0.26%	0.02%
	KD	B	0.05%	0.15%	0.05%
	KIM	A	0.03%	0.47%	0.03%
	KMX	B	0.06%	0.33%	0.06%
	KNX	B	0.04%	0.23%	0.04%
	KSS	F	0.06%	0.06%	0.06%
	LAD	A	0.07%	0.26%	0.07%
	LAMR	D	0.02%	0.17%	0.02%
	LDOS	C	0.07%	0.36%	0.07%
	LEA	D	0.05%	0.16%	0.05%
	LEG	F	0.02%	0.04%	0.02%
	LKQ	D	0.05%	0.28%	0.05%
	LNC	B	0.05%	0.17%	0.05%
	LPX	B	0.04%	0.18%	0.04%
	LUMN	C	0.65%	0.19%	0.19%
	M	D	0.06%	0.12%	0.06%
	MAN	D	0.04%	0.09%	0.04%
	MATX	C	0.02%	0.15%	0.02%
	MDU	D	0.02%	0.16%	0.02%
	MGM	D	0.06%	0.12%	0.06%
	MHK	D	0.06%	0.21%	0.06%
	MIDD	C	0.02%	0.2%	0.02%
	MKSI	C	0.02%	0.2%	0.02%
	MLI	C	0.03%	0.27%	0.03%
	MOS	F	0.06%	0.25%	0.06%
	MPW	F	0.02%	0.08%	0.02%
	MSM	C	0.01%	0.1%	0.01%
	MTG	C	0.02%	0.19%	0.02%
	MTH	D	0.03%	0.19%	0.03%
	MTZ	B	0.03%	0.11%	0.03%
	MUR	D	0.02%	0.13%	0.02%
	MUSA	A	0.04%	0.26%	0.04%
	NAVI	C	0.02%	0.03%	0.02%
	NFG	A	0.02%	0.16%	0.02%
	NI	A	0.05%	0.23%	0.05%
	NRG	B	0.1%	0.55%	0.1%
	NSIT	F	0.02%	0.17%	0.02%
	NVT	B	0.02%	0.36%	0.02%
	NWL	B	0.03%	0.1%	0.03%
	NXST	C	0.03%	0.16%	0.03%
	OC	A	0.07%	0.45%	0.07%
	ODP	F	0.02%	0.03%	0.02%
	OGE	B	0.03%	0.23%	0.03%
	OGN	D	0.04%	0.14%	0.04%
	OI	C	0.02%	0.05%	0.02%
	OLN	D	0.03%	0.14%	0.03%
	OMF	A	0.06%	0.17%	0.06%
	ORI	A	0.05%	0.24%	0.05%
	OSK	B	0.04%	0.19%	0.04%
	OVV	B	0.06%	0.3%	0.06%
	PAG	B	0.02%	0.09%	0.02%
	PARA	C	0.11%	0.17%	0.11%
	PBF	D	0.03%	0.08%	0.03%
	PENN	C	0.02%	0.09%	0.02%
	PFGC	B	0.06%	0.37%	0.06%
	PII	D	0.02%	0.11%	0.02%
	PK	B	0.02%	0.08%	0.02%
	PNR	A	0.04%	0.48%	0.04%
	PNW	B	0.04%	0.29%	0.04%
	POR	C	0.02%	0.14%	0.02%
	POST	C	0.02%	0.07%	0.02%
	PRGO	B	0.01%	0.1%	0.01%
	PRI	A	0.03%	0.27%	0.03%
	PVH	C	0.04%	0.16%	0.04%
	QRVO	F	0.03%	0.2%	0.03%
	R	B	0.07%	0.18%	0.07%
	REG	B	0.02%	0.38%	0.02%
	REZI	A	0.02%	0.08%	0.02%
	RGA	A	0.04%	0.41%	0.04%
	RHI	B	0.04%	0.2%	0.04%
	RL	B	0.03%	0.22%	0.03%
	RPM	A	0.04%	0.48%	0.04%
	RRX	B	0.03%	0.32%	0.03%
	RS	B	0.09%	0.46%	0.09%
	RUSHA	C	0.02%	0.1%	0.02%
	SAIC	F	0.02%	0.22%	0.02%
	SANM	B	0.03%	0.11%	0.03%
	SCI	B	0.03%	0.33%	0.03%
	SEE	C	0.03%	0.12%	0.03%
	SEIC	B	0.03%	0.26%	0.03%
	SFM	A	0.05%	0.38%	0.05%
	SJM	D	0.05%	0.34%	0.05%
	SLG	B	0.02%	0.14%	0.02%
	SLM	A	0.04%	0.14%	0.04%
	SM	B	0.02%	0.07%	0.02%
	SNV	B	0.03%	0.2%	0.03%
	SNX	C	0.03%	0.22%	0.03%
	SOLV	C	0.02%	0.29%	0.02%
	SON	D	0.02%	0.15%	0.02%
	ST	F	0.02%	0.15%	0.02%
	STLD	B	0.11%	0.28%	0.11%
	STWD	C	0.02%	0.18%	0.02%
	SW	A	0.09%	0.78%	0.09%
	TAP	C	0.05%	0.28%	0.05%
	TDS	B	0.05%	0.08%	0.05%
	TFX	F	0.02%	0.28%	0.02%
	TGNA	B	0.02%	0.08%	0.02%
	THC	D	0.07%	0.43%	0.07%
	THG	A	0.03%	0.14%	0.03%
	THO	B	0.04%	0.15%	0.04%
	TKR	D	0.02%	0.15%	0.02%
	TMHC	B	0.04%	0.2%	0.04%
	TNL	A	0.01%	0.09%	0.01%
	TOL	B	0.06%	0.44%	0.06%
	TPH	D	0.03%	0.11%	0.03%
	TPR	B	0.05%	0.32%	0.05%
	UFPI	B	0.04%	0.21%	0.04%
	UGI	A	0.04%	0.15%	0.04%
	UHAL	D	0.02%	0.02%	0.02%
	UHAL	D	0.02%	0.19%	0.02%
	UHS	D	0.08%	0.34%	0.08%
	UNFI	A	0.01%	0.03%	0.01%
	UNM	A	0.06%	0.28%	0.06%
	USFD	A	0.08%	0.44%	0.08%
	VAC	B	0.02%	0.07%	0.02%
	VFC	C	0.07%	0.24%	0.07%
	VNO	B	0.05%	0.22%	0.05%
	VOYA	B	0.03%	0.23%	0.03%
	VSH	D	0.01%	0.06%	0.01%
	WBA	F	0.17%	0.1%	0.1%
	WCC	B	0.04%	0.28%	0.04%
	WERN	C	0.02%	0.06%	0.02%
	WHR	B	0.08%	0.17%	0.08%
	WKC	D	0.08%	0.04%	0.04%
	WLK	D	0.02%	0.07%	0.02%
	WSM	B	0.04%	0.39%	0.04%
	WTRG	B	0.01%	0.28%	0.01%
	WU	D	0.03%	0.11%	0.03%
	X	C	0.07%	0.23%	0.07%
	XRAY	F	0.01%	0.14%	0.01%
	XRX	F	0.02%	0.03%	0.02%
	ZION	B	0.06%	0.22%	0.06%

FNDX Overweight 466 Positions Relative to VBR

	Symbol	Grade	Weight
	AAPL	C	4.35%
	MSFT	F	2.43%
	BRK.A	B	2.17%
	JPM	A	2.03%
	XOM	B	1.99%
	META	D	1.79%
	AMZN	C	1.56%
	WMT	A	1.47%
	WFC	A	1.35%
	GOOGL	C	1.33%
	BAC	A	1.3%
	T	A	1.27%
	CVX	A	1.25%
	UNH	C	1.22%
	GOOG	C	1.14%
	VZ	C	1.13%
	C	A	1.1%
	INTC	D	0.89%
	JNJ	D	0.89%
	CMCSA	B	0.83%
	CSCO	B	0.82%
	HD	A	0.8%
	GM	B	0.79%
	PG	A	0.77%
	CVS	D	0.68%
	PFE	D	0.68%
	COST	B	0.66%
	GS	A	0.62%
	AVGO	D	0.61%
	IBM	C	0.54%
	ORCL	B	0.5%
	ABBV	D	0.49%
	PM	B	0.48%
	COF	B	0.48%
	CI	F	0.48%
	COP	C	0.48%
	MS	A	0.46%
	BMY	B	0.45%
	DIS	B	0.45%
	QCOM	F	0.43%
	LOW	D	0.43%
	MRK	F	0.42%
	CAT	B	0.41%
	PEP	F	0.41%
	MPC	D	0.4%
	NVDA	C	0.4%
	VLO	C	0.39%
	AMGN	D	0.39%
	MU	D	0.38%
	TGT	F	0.38%
	LMT	D	0.37%
	HON	B	0.37%
	MO	A	0.37%
	GILD	C	0.37%
	PSX	C	0.36%
	ACN	C	0.36%
	AXP	A	0.36%
	ELV	F	0.36%
	V	A	0.36%
	CHTR	C	0.35%
	KO	D	0.35%
	MMM	D	0.35%
	UNP	C	0.35%
	RTX	C	0.34%
	SYF	B	0.34%
	ABT	B	0.34%
	TXN	C	0.34%
	MCD	D	0.34%
	F	C	0.33%
	LIN	D	0.33%
	FDX	B	0.32%
	USB	A	0.32%
	TRV	B	0.31%
	DUK	C	0.3%
	KR	B	0.3%
	PNC	B	0.3%
	MA	C	0.29%
	TSLA	B	0.28%
	BLK	C	0.28%
	AIG	B	0.28%
	SBUX	A	0.28%
	UPS	C	0.28%
	ALL	A	0.27%
	DFS	B	0.26%
	MET	A	0.26%
	SO	D	0.26%
	CB	C	0.26%
	BK	A	0.26%
	TMO	F	0.25%
	TMUS	B	0.25%
	NEE	D	0.24%
	AMAT	F	0.24%
	BKNG	A	0.24%
	KMI	A	0.23%
	TFC	A	0.23%
	ETN	A	0.23%
	DE	A	0.23%
	PGR	A	0.23%
	EOG	A	0.23%
	CSX	B	0.22%
	PYPL	B	0.22%
	TJX	A	0.22%
	PRU	A	0.22%
	ADM	D	0.21%
	AFL	B	0.21%
	NSC	B	0.21%
	HPQ	B	0.21%
	GD	F	0.21%
	HPE	B	0.21%
	ADBE	C	0.2%
	MDLZ	F	0.2%
	NOC	D	0.2%
	TSN	B	0.2%
	LLY	F	0.2%
	HCA	F	0.2%
	CTSH	B	0.19%
	HUM	C	0.19%
	NKE	D	0.19%
	CMI	A	0.19%
	CNC	D	0.19%
	NUE	C	0.19%
	DOW	F	0.18%
	EXC	C	0.17%
	WMB	A	0.17%
	IP	B	0.17%
	NFLX	A	0.17%
	EBAY	D	0.17%
	EMR	A	0.17%
	D	C	0.17%
	DD	D	0.17%
	AEP	D	0.16%
	VST	B	0.16%
	DHI	D	0.16%
	BKR	B	0.16%
	BBY	D	0.16%
	LHX	C	0.16%
	LEN	D	0.16%
	JCI	C	0.16%
	MDT	D	0.16%
	DHR	F	0.15%
	AMP	A	0.15%
	SPGI	C	0.15%
	ADP	B	0.15%
	LRCX	F	0.15%
	ITW	B	0.15%
	PCAR	B	0.15%
	WM	A	0.15%
	CRM	B	0.15%
	GE	D	0.15%
	LYB	F	0.14%
	FCX	D	0.14%
	MMC	B	0.14%
	OKE	A	0.14%
	GLW	B	0.14%
	HIG	B	0.14%
	CL	D	0.13%
	APD	A	0.13%
	PH	A	0.13%
	SCHW	B	0.13%
	FITB	A	0.13%
	SYK	C	0.13%
	TROW	B	0.13%
	BX	A	0.13%
	ADI	D	0.13%
	AON	A	0.13%
	SRE	A	0.13%
	NEM	D	0.13%
	CBRE	B	0.13%
	FI	A	0.13%
	URI	B	0.13%
	FIS	C	0.12%
	ED	D	0.12%
	ETR	B	0.12%
	SLB	C	0.12%
	WDC	D	0.12%
	CARR	D	0.12%
	KKR	A	0.12%
	XEL	A	0.12%
	ORLY	B	0.11%
	MTB	A	0.11%
	MCK	B	0.11%
	PEG	A	0.11%
	BDX	F	0.11%
	OXY	D	0.11%
	PPL	B	0.11%
	BA	F	0.11%
	ICE	C	0.11%
	INTU	C	0.11%
	PHM	D	0.11%
	AMT	D	0.11%
	GIS	D	0.11%
	EIX	B	0.1%
	SYY	B	0.1%
	FOXA	B	0.1%
	KMB	D	0.1%
	VTRS	A	0.1%
	REGN	F	0.1%
	STT	A	0.1%
	CEG	D	0.1%
	KEY	B	0.1%
	WELL	A	0.1%
	SPG	B	0.1%
	CFG	B	0.1%
	RF	A	0.09%
	MRO	B	0.09%
	GPN	B	0.09%
	ISRG	A	0.09%
	STX	D	0.09%
	FE	C	0.09%
	DVN	F	0.09%
	BIIB	F	0.09%
	EA	A	0.09%
	CTVA	C	0.09%
	PFG	D	0.09%
	BSX	B	0.09%
	MAR	B	0.09%
	APH	A	0.09%
	WY	D	0.09%
	CCI	D	0.09%
	LH	C	0.09%
	AMD	F	0.09%
	GEHC	F	0.09%
	KHC	F	0.09%
	HBAN	A	0.08%
	NTRS	A	0.08%
	NVR	D	0.08%
	VTR	C	0.08%
	YUM	B	0.08%
	ES	D	0.08%
	OMC	C	0.08%
	KLAC	D	0.08%
	CME	A	0.08%
	DG	F	0.08%
	GWW	B	0.08%
	PPG	F	0.08%
	WEC	A	0.08%
	DLR	B	0.08%
	EQIX	A	0.08%
	CTAS	B	0.08%
	ECL	D	0.08%
	WBD	C	0.08%
	SHW	A	0.08%
	K	A	0.07%
	BAX	D	0.07%
	IQV	D	0.07%
	MSI	B	0.07%
	HWM	A	0.07%
	SWK	D	0.07%
	CF	B	0.07%
	WTW	B	0.07%
	AEE	A	0.07%
	DGX	A	0.07%
	TRGP	B	0.07%
	MCO	B	0.07%
	NTAP	C	0.07%
	STZ	D	0.07%
	CAH	B	0.07%
	PWR	A	0.07%
	PLD	D	0.07%
	KDP	D	0.07%
	CINF	A	0.07%
	ZTS	D	0.07%
	PKG	A	0.07%
	ROST	C	0.07%
	DTE	C	0.07%
	VRTX	F	0.07%
	FAST	B	0.07%
	SNA	A	0.06%
	HES	B	0.06%
	ODFL	B	0.06%
	TSCO	D	0.06%
	CPAY	A	0.06%
	CAG	D	0.06%
	TXT	D	0.06%
	ROK	B	0.06%
	BALL	D	0.06%
	AZO	C	0.06%
	CMS	C	0.06%
	LNG	B	0.06%
	CCL	B	0.06%
	FLEX	A	0.06%
	IRM	D	0.06%
	HLT	A	0.06%
	CNP	B	0.06%
	TT	A	0.06%
	HAL	C	0.06%
	FNF	B	0.06%
	RSG	A	0.06%
	PAYX	C	0.06%
	WAB	B	0.06%
	DOV	A	0.06%
	TDG	D	0.06%
	MOH	F	0.05%
	MNST	C	0.05%
	VMC	B	0.05%
	ZBH	C	0.05%
	JBHT	C	0.05%
	MKL	A	0.05%
	NXPI	D	0.05%
	DLTR	F	0.05%
	MCHP	D	0.05%
	IFF	D	0.05%
	L	A	0.05%
	DRI	B	0.05%
	AJG	B	0.05%
	GPC	D	0.05%
	OTIS	C	0.05%
	AVB	B	0.05%
	EQR	B	0.05%
	FANG	D	0.05%
	CASY	A	0.05%
	ROP	B	0.05%
	MAS	D	0.05%
	J	F	0.05%
	AME	A	0.05%
	RJF	A	0.05%
	PSA	D	0.05%
	KVUE	A	0.05%
	A	D	0.05%
	ANET	C	0.04%
	O	D	0.04%
	UBER	D	0.04%
	EXPE	B	0.04%
	SSNC	B	0.04%
	TER	D	0.04%
	AVY	D	0.04%
	KEYS	A	0.04%
	ZIM	C	0.04%
	LVS	C	0.04%
	CMG	B	0.04%
	HSY	F	0.04%
	ON	D	0.04%
	HST	C	0.04%
	CLX	B	0.04%
	DOX	D	0.04%
	CRBG	B	0.04%
	EXPD	D	0.04%
	WAT	B	0.04%
	ZBRA	B	0.04%
	SWKS	F	0.04%
	HOLX	D	0.04%
	CHD	B	0.04%
	AWK	D	0.04%
	EW	C	0.04%
	LNT	A	0.04%
	GEN	B	0.04%
	LPLA	A	0.04%
	NWSA	B	0.04%
	VRSK	A	0.04%
	EQT	B	0.04%
	MLM	B	0.04%
	GEV	B	0.04%
	MRVL	B	0.04%
	CDW	F	0.04%
	DELL	C	0.03%
	EXP	A	0.03%
	LSTR	D	0.03%
	INVH	D	0.03%
	MRNA	F	0.03%
	ACGL	D	0.03%
	TDY	B	0.03%
	CPRT	A	0.03%
	GNTX	C	0.03%
	TRU	D	0.03%
	SQ	B	0.03%
	RVTY	F	0.03%
	BURL	A	0.03%
	ILMN	D	0.03%
	CW	B	0.03%
	LII	A	0.03%
	GDDY	A	0.03%
	STE	F	0.03%
	APO	B	0.03%
	PCG	A	0.03%
	ARE	D	0.03%
	MSCI	C	0.03%
	TTWO	A	0.03%
	MTD	D	0.03%
	AMCR	D	0.03%
	CPB	D	0.03%
	EFX	F	0.03%
	DAL	C	0.03%
	EXR	D	0.03%
	AKAM	D	0.03%
	ESS	B	0.03%
	HRL	D	0.03%
	XYL	D	0.03%
	SNPS	B	0.03%
	NDAQ	A	0.03%
	TRMB	B	0.03%
	CIEN	B	0.03%
	ULTA	F	0.03%
	GRMN	B	0.03%
	MAA	B	0.03%
	CTRA	B	0.03%
	EL	F	0.03%
	IT	C	0.03%
	DECK	A	0.03%
	PANW	C	0.03%
	DPZ	C	0.03%
	FTV	C	0.03%
	CE	F	0.03%
	WSO	A	0.03%
	RMD	C	0.03%
	IR	B	0.03%
	CDNS	B	0.03%
	WRB	A	0.03%
	ADSK	A	0.03%
	MKC	D	0.03%
	FTNT	C	0.03%
	BR	A	0.03%
	MTN	C	0.02%
	EG	C	0.02%
	ALV	C	0.02%
	ADNT	F	0.02%
	CHKP	D	0.02%
	AER	B	0.02%
	TTC	D	0.02%
	WPC	D	0.02%
	LW	C	0.02%
	ANSS	B	0.02%
	SBAC	D	0.02%
	NDSN	B	0.02%
	WST	C	0.02%
	CZR	F	0.02%
	CCEP	C	0.02%
	LECO	B	0.02%
	TPX	B	0.02%
	GGG	B	0.02%
	GXO	B	0.02%
	CTLT	B	0.02%
	IDXX	F	0.02%
	JKHY	D	0.02%
	APTV	D	0.02%
	POOL	C	0.02%
	ALGN	D	0.02%
	NOV	C	0.02%
	AVTR	F	0.02%
	AOS	F	0.02%
	SKX	D	0.02%
	CNH	C	0.02%
	SUI	D	0.02%
	UDR	B	0.02%
	VICI	C	0.02%
	DAR	C	0.02%
	BRO	B	0.02%
	GNRC	B	0.02%
	COR	B	0.02%
	BAP	B	0.02%
	LUV	C	0.02%
	LILAK	D	0.01%
	CRL	C	0.01%
	VRSN	F	0.01%
	DBX	B	0.01%
	ICLR	D	0.01%
	SPTN	D	0.01%
	CHE	D	0.01%
	MMS	F	0.01%
	CYH	F	0.01%
	BLD	D	0.01%
	CBOE	B	0.01%
	FSLR	F	0.01%
	NOW	A	0.01%
	QRTEA	F	0.01%
	FTI	A	0.01%
	LULU	C	0.01%

FNDX Underweight 538 Positions Relative to VBR

	Symbol	Grade	Weight
	UTHR	C	-0.49%
	RNR	C	-0.4%
	TTEK	F	-0.38%
	OHI	C	-0.32%
	SF	B	-0.29%
	Z	A	-0.27%
	FRT	B	-0.27%
	DTM	B	-0.26%
	WBS	A	-0.26%
	AIT	A	-0.26%
	APG	B	-0.25%
	GME	C	-0.25%
	NYT	C	-0.25%
	WAL	B	-0.25%
	EGP	F	-0.24%
	WTFC	A	-0.23%
	CHRD	D	-0.23%
	NNN	D	-0.23%
	SSB	B	-0.22%
	ADC	B	-0.22%
	CR	A	-0.22%
	ESAB	B	-0.21%
	XPO	B	-0.21%
	CBSH	A	-0.21%
	AGNC	D	-0.21%
	CFR	B	-0.21%
	ANF	C	-0.2%
	RLI	B	-0.2%
	STAG	F	-0.2%
	RRC	B	-0.2%
	FLS	B	-0.2%
	MAT	D	-0.2%
	BIO	D	-0.2%
	FR	C	-0.2%
	FCN	D	-0.2%
	PB	A	-0.19%
	KEX	C	-0.19%
	ESNT	D	-0.18%
	CADE	B	-0.18%
	ONB	B	-0.18%
	MSA	D	-0.18%
	ELAN	D	-0.18%
	VMI	B	-0.18%
	VNT	B	-0.17%
	SRCL	C	-0.17%
	SUM	B	-0.17%
	SIRI	C	-0.17%
	CRUS	D	-0.17%
	ESI	A	-0.17%
	CBT	C	-0.17%
	GBCI	B	-0.17%
	AXS	A	-0.17%
	COLB	A	-0.17%
	COOP	B	-0.16%
	MOG.A	B	-0.16%
	KNF	A	-0.16%
	IDA	A	-0.16%
	SIGI	C	-0.16%
	TPG	A	-0.16%
	NCLH	B	-0.16%
	UBSI	B	-0.15%
	PSN	D	-0.15%
	VVV	F	-0.15%
	FNB	A	-0.15%
	WTS	B	-0.15%
	RDN	C	-0.15%
	BDC	B	-0.14%
	RYN	D	-0.14%
	CUZ	B	-0.14%
	OZK	B	-0.14%
	KRC	C	-0.14%
	KTB	B	-0.14%
	PIPR	B	-0.14%
	MDGL	B	-0.14%
	AM	A	-0.14%
	AUR	C	-0.14%
	HOMB	A	-0.14%
	GATX	A	-0.14%
	ZWS	B	-0.14%
	RIVN	F	-0.13%
	PR	B	-0.13%
	BCO	D	-0.13%
	WTM	A	-0.13%
	EAT	A	-0.13%
	FFIN	B	-0.13%
	LYFT	C	-0.13%
	SWX	B	-0.13%
	HWC	B	-0.13%
	SBRA	C	-0.13%
	UMBF	B	-0.13%
	NJR	A	-0.13%
	GTES	A	-0.13%
	ACA	A	-0.13%
	DNB	B	-0.12%
	ICUI	D	-0.12%
	FUL	F	-0.12%
	OGS	A	-0.12%
	MAC	B	-0.12%
	ABCB	B	-0.12%
	EDR	A	-0.12%
	HASI	D	-0.12%
	VLY	B	-0.12%
	BKH	A	-0.12%
	SLGN	A	-0.12%
	ITGR	B	-0.12%
	AGO	B	-0.12%
	CRC	B	-0.12%
	AVNT	B	-0.12%
	NVST	B	-0.11%
	SKYW	B	-0.11%
	CDP	C	-0.11%
	SKT	B	-0.11%
	PBH	A	-0.11%
	AX	A	-0.11%
	GVA	A	-0.11%
	ESGR	B	-0.11%
	KFY	B	-0.11%
	ALE	A	-0.11%
	SMG	D	-0.11%
	ACHC	F	-0.11%
	NUVL	D	-0.11%
	KMPR	B	-0.11%
	PNFP	B	-0.11%
	HL	D	-0.11%
	SIG	B	-0.11%
	ENS	D	-0.11%
	ASH	D	-0.11%
	PLXS	B	-0.11%
	PNM	F	-0.11%
	MGEE	C	-0.1%
	NWE	B	-0.1%
	PCH	D	-0.1%
	OTTR	C	-0.1%
	TEX	D	-0.1%
	FULT	A	-0.1%
	WEN	D	-0.1%
	HCC	B	-0.1%
	BNL	D	-0.1%
	SEM	B	-0.1%
	BGC	C	-0.1%
	NHI	D	-0.1%
	UCB	A	-0.1%
	AUB	B	-0.1%
	ASB	B	-0.1%
	IBOC	A	-0.1%
	EPR	D	-0.1%
	IAC	D	-0.1%
	SR	A	-0.1%
	WD	D	-0.1%
	GMS	B	-0.1%
	HIW	D	-0.1%
	TCBI	B	-0.1%
	WSFS	A	-0.09%
	AVA	A	-0.09%
	BRC	D	-0.09%
	DEI	B	-0.09%
	SATS	D	-0.09%
	MIR	A	-0.09%
	PTEN	C	-0.09%
	NPO	A	-0.09%
	ADTN	A	-0.09%
	ATKR	C	-0.09%
	APAM	B	-0.09%
	AWR	B	-0.09%
	TDC	D	-0.09%
	AMED	F	-0.09%
	CWK	B	-0.09%
	CATY	B	-0.09%
	FBP	B	-0.09%
	FHB	A	-0.09%
	EBC	B	-0.09%
	PRIM	A	-0.09%
	SXT	B	-0.09%
	APLE	B	-0.09%
	COMP	B	-0.09%
	CBU	B	-0.09%
	AROC	B	-0.09%
	FHI	A	-0.09%
	ESE	B	-0.09%
	FIBK	A	-0.08%
	AKR	B	-0.08%
	CVBF	A	-0.08%
	COTY	F	-0.08%
	CXT	B	-0.08%
	LXP	D	-0.08%
	ABR	C	-0.08%
	BKU	A	-0.08%
	NSP	D	-0.08%
	IOSP	B	-0.08%
	UE	C	-0.08%
	UNF	B	-0.08%
	SYNA	C	-0.08%
	DBRG	F	-0.08%
	PRGS	A	-0.08%
	GHC	C	-0.08%
	WAFD	B	-0.08%
	SFNC	B	-0.08%
	ALIT	C	-0.08%
	GFF	A	-0.08%
	MGRC	B	-0.08%
	RNG	B	-0.08%
	AMKR	D	-0.08%
	TRN	C	-0.08%
	IOVA	F	-0.08%
	BOH	B	-0.08%
	BHF	B	-0.08%
	ATGE	B	-0.08%
	BYD	C	-0.07%
	OMCL	C	-0.07%
	ENR	B	-0.07%
	ENOV	C	-0.07%
	CDE	D	-0.07%
	PFS	B	-0.07%
	PECO	A	-0.07%
	FFBC	A	-0.07%
	CWEN	C	-0.07%
	RNA	D	-0.07%
	VSCO	B	-0.07%
	BOKF	B	-0.07%
	SPB	C	-0.07%
	DY	D	-0.07%
	MTX	B	-0.07%
	HAYW	B	-0.07%
	PPBI	B	-0.07%
	ARCB	C	-0.07%
	BXMT	C	-0.07%
	OUT	A	-0.07%
	PRK	B	-0.07%
	URBN	C	-0.07%
	INDB	B	-0.07%
	PFSI	D	-0.07%
	VIRT	B	-0.07%
	NMRK	B	-0.06%
	NATL	B	-0.06%
	CGON	F	-0.06%
	AZTA	D	-0.06%
	TRMK	B	-0.06%
	LRN	A	-0.06%
	IMVT	F	-0.06%
	RXO	C	-0.06%
	PHIN	A	-0.06%
	HI	C	-0.06%
	BLKB	B	-0.06%
	KMT	B	-0.06%
	BANF	B	-0.06%
	MHO	D	-0.06%
	NBTB	B	-0.06%
	AIR	B	-0.06%
	WLY	B	-0.06%
	GEO	B	-0.06%
	EQC	B	-0.06%
	PINC	B	-0.06%
	SMMT	D	-0.06%
	STRA	C	-0.06%
	PSMT	C	-0.06%
	SFBS	B	-0.06%
	ZG	A	-0.06%
	VIAV	B	-0.06%
	SHO	C	-0.06%
	IBTX	B	-0.06%
	HURN	B	-0.06%
	FRME	B	-0.06%
	RNST	B	-0.06%
	ZD	C	-0.06%
	EVTC	B	-0.06%
	LAUR	A	-0.06%
	MTRN	C	-0.06%
	CAKE	C	-0.06%
	AIN	C	-0.06%
	INFA	D	-0.06%
	IVT	B	-0.06%
	TOWN	B	-0.06%
	B	B	-0.06%
	OSIS	B	-0.06%
	IPGP	D	-0.06%
	AZZ	B	-0.06%
	TTMI	B	-0.06%
	JOBY	B	-0.06%
	SXI	B	-0.06%
	BANR	B	-0.06%
	HNI	B	-0.06%
	SCL	C	-0.05%
	SHOO	D	-0.05%
	MLKN	D	-0.05%
	LZB	B	-0.05%
	DDS	B	-0.05%
	FCF	A	-0.05%
	UAA	C	-0.05%
	HEES	B	-0.05%
	CHCO	B	-0.05%
	CNK	B	-0.05%
	APOG	B	-0.05%
	LTC	B	-0.05%
	PDCO	D	-0.05%
	DRH	B	-0.05%
	HE	C	-0.05%
	NWBI	B	-0.05%
	THS	D	-0.05%
	NBHC	B	-0.05%
	GOLF	B	-0.05%
	PZZA	D	-0.05%
	KAR	B	-0.05%
	PPC	C	-0.05%
	EPC	D	-0.05%
	STEP	B	-0.05%
	GBX	A	-0.05%
	PRG	C	-0.05%
	VSTS	C	-0.05%
	WSBC	A	-0.05%
	SUPN	C	-0.05%
	GNL	F	-0.05%
	CRGY	B	-0.05%
	LGND	B	-0.05%
	VYX	B	-0.05%
	MCY	A	-0.05%
	OFG	B	-0.05%
	ROIC	A	-0.05%
	EIG	B	-0.04%
	PBI	B	-0.04%
	ARI	C	-0.04%
	AAT	B	-0.04%
	FDP	B	-0.04%
	DYN	F	-0.04%
	PDM	D	-0.04%
	SPNT	A	-0.04%
	IART	C	-0.04%
	VC	D	-0.04%
	WS	B	-0.04%
	DNOW	B	-0.04%
	GO	C	-0.04%
	VRE	B	-0.04%
	BKE	B	-0.04%
	COLM	B	-0.04%
	NNI	D	-0.04%
	LADR	B	-0.04%
	RRR	D	-0.04%
	WABC	B	-0.04%
	CSGS	B	-0.04%
	REVG	B	-0.04%
	VRNT	C	-0.04%
	SBH	C	-0.04%
	LCII	C	-0.04%
	ALEX	C	-0.04%
	NX	C	-0.04%
	STBA	B	-0.04%
	ESRT	C	-0.04%
	HTH	B	-0.04%
	CODI	B	-0.04%
	BLMN	F	-0.04%
	WT	B	-0.04%
	REYN	D	-0.04%
	HOPE	B	-0.04%
	NTCT	C	-0.04%
	VCTR	B	-0.04%
	TROX	D	-0.04%
	UPBD	B	-0.04%
	AMN	F	-0.04%
	CXW	B	-0.04%
	SMR	B	-0.04%
	HELE	C	-0.04%
	KN	B	-0.04%
	VRTS	B	-0.04%
	JBGS	D	-0.04%
	NWN	A	-0.04%
	ELME	D	-0.04%
	BHE	B	-0.04%
	HP	B	-0.04%
	CENTA	C	-0.04%
	LC	A	-0.04%
	FTRE	D	-0.04%
	HMN	B	-0.04%
	NGVT	B	-0.04%
	NHC	C	-0.04%
	GEF	A	-0.04%
	GTY	B	-0.04%
	HLIO	B	-0.04%
	NPAB	B	-0.04%
	CABO	C	-0.04%
	AVNS	F	-0.03%
	MMI	B	-0.03%
	THR	B	-0.03%
	FA	C	-0.03%
	LGF.A	C	-0.03%
	SCSC	B	-0.03%
	CWEN	C	-0.03%
	BV	B	-0.03%
	OMI	F	-0.03%
	JACK	D	-0.03%
	MYGN	F	-0.03%
	BRKL	B	-0.03%
	DNUT	D	-0.03%
	RWT	D	-0.03%
	USM	B	-0.03%
	MRC	B	-0.03%
	CARS	B	-0.03%
	UA	C	-0.03%
	WMK	C	-0.03%
	SCS	C	-0.03%
	KWR	C	-0.03%
	INSW	F	-0.03%
	ECPG	B	-0.03%
	TRS	B	-0.03%
	INVA	D	-0.03%
	SNDR	B	-0.03%
	CBRL	C	-0.03%
	MD	B	-0.03%
	ACT	D	-0.03%
	KFRC	D	-0.03%
	FBRT	C	-0.03%
	CSR	B	-0.03%
	ATSG	B	-0.03%
	OXM	D	-0.03%
	HTLF	B	-0.03%
	VSAT	F	-0.03%
	SAFT	C	-0.03%
	RBRK	A	-0.03%
	CNNE	B	-0.03%
	MSGE	F	-0.03%
	KALU	C	-0.03%
	AIV	C	-0.03%
	JELD	F	-0.03%
	WOR	F	-0.03%
	VSTO	A	-0.03%
	GIII	D	-0.03%
	WWW	B	-0.03%
	BHLB	B	-0.03%
	PMT	D	-0.03%
	BKD	D	-0.03%
	UNIT	B	-0.03%
	AMRX	C	-0.03%
	UVV	B	-0.03%
	CMPR	D	-0.02%
	SVC	F	-0.02%
	ATUS	C	-0.02%
	DAWN	F	-0.02%
	CVI	F	-0.02%
	FOR	F	-0.02%
	NAPA	B	-0.02%
	CWH	B	-0.02%
	BASE	C	-0.02%
	HPP	F	-0.02%
	PUMP	B	-0.02%
	KELYA	F	-0.02%
	HY	D	-0.02%
	AXL	C	-0.02%
	BGS	F	-0.02%
	RGR	F	-0.02%
	KOP	C	-0.02%
	SWI	B	-0.02%
	MODG	F	-0.02%
	SEB	F	-0.02%
	BMBL	C	-0.02%
	MATW	C	-0.02%
	KREF	D	-0.02%
	PRLB	A	-0.02%
	ECVT	C	-0.02%
	AMWD	C	-0.02%
	ETWO	F	-0.02%
	XHR	B	-0.02%
	HLF	C	-0.02%
	ASTE	B	-0.02%
	CFFN	B	-0.02%
	PCRX	C	-0.02%
	WNC	C	-0.02%
	CMTG	F	-0.02%
	TMP	B	-0.02%
	SAH	A	-0.02%
	PRAA	C	-0.02%
	FG	B	-0.02%
	PRA	C	-0.02%
	MNRO	D	-0.02%
	HAIN	C	-0.02%
	BRSP	B	-0.02%
	MATV	D	-0.02%
	HCSG	C	-0.02%
	LEVI	F	-0.02%
	EMBC	C	-0.02%
	EYE	C	-0.02%
	DLX	B	-0.02%
	BDN	C	-0.02%
	JBLU	F	-0.02%
	OLPX	D	-0.01%
	OPK	C	-0.01%
	TWKS	D	-0.01%
	DIN	C	-0.01%
	CENT	C	-0.01%
	ALX	D	-0.01%
	CMP	C	-0.01%
	AMBC	C	-0.01%
	KRO	D	-0.01%
	TGI	B	-0.01%
	VREX	C	-0.01%
	SWBI	C	-0.01%
	CNDT	C	-0.01%
	ZIP	F	-0.01%
	TRTX	B	-0.01%
	SRCL	C	-0.01%
	CRCT	F	-0.01%
	WOOF	D	-0.01%
	NVRI	F	-0.01%
	INN	D	-0.01%
	RUSHB	B	-0.01%
	WRLD	C	-0.01%
	VMEO	B	-0.01%
	RMR	F	-0.01%
	EGBN	B	-0.01%
	GRC	A	-0.01%
	EE	A	-0.01%
	NABL	F	-0.01%
	SSTK	F	-0.01%
	PTVE	B	-0.01%
	BJRI	B	-0.01%
	FWRD	D	-0.01%
	USNA	C	-0.01%
	CCO	C	-0.01%
	CLB	B	-0.01%
	CLBK	B	-0.01%
	HTLD	B	-0.01%
	ARRY	C	-0.01%
	BFS	C	-0.01%
	SCHL	D	-0.01%
	DJT	C	-0.01%
	TILE	B	-0.01%
	GCMG	B	-0.01%
	MXL	C	-0.01%
	LGF.A	C	-0.01%
	CAL	D	-0.01%
	GES	F	-0.01%
	SCWX	B	-0.0%
	AC	C	-0.0%
	AMCX	C	-0.0%
	ACDC	C	-0.0%
	TASK	C	-0.0%
	LESL	C	-0.0%
	LDI	C	-0.0%
	GEF	A	-0.0%
	NUS	D	-0.0%
	BRCC	F	-0.0%

FNDX: Top Represented Industries & Keywords

Industries: Diversified Industrials Asset Management Utilities - Regulated Electric Business Services Oil & Gas E&P Specialty Retail Banks - Regional - US Software - Application Information Technology Services Semiconductors Diagnostics & Research Specialty Chemicals Credit Services Packaged Foods Packaging & Containers Building Materials Insurance - Property & Casualty Auto Parts Capital Markets Drug Manufacturers - Major

Keywords: S&P 500 Nasdaq 100 Natural Gas Insurance Computing Electricity Chemical Mining Aerospace Electronics Bank Dow Jones Component Banking Real Estate Investment Trust Telecommunications Semiconductor Transport Insurance Products Medicine Beverage

VBR: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials REIT - Diversified Asset Management REIT - Retail Specialty Chemicals Information Technology Services Apparel Manufacturing REIT - Office Software - Application Biotechnology Specialty Retail Building Materials Oil & Gas E&P Packaging & Containers Packaged Foods Rental & Leasing Services Auto & Truck Dealerships Business Services Engineering & Construction

Keywords: Bank Banking Real Estate Investment Trust S&P 500 Deposit Products Chemical Insurance Mining Natural Gas Real Estate Loans Aerospace Commercial Banking Transport Clothing Telecommunications Construction Electronics Commercial Bank Computing Mortgage Loan