FNDX vs. VCSH ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to Vanguard Short-Term Corporate Bond ETF (VCSH)

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

$71.53

Average Daily Volume

410,055

Number of Holdings ^*

716

* may have additional holdings in another (foreign) market

VCSH

Vanguard Short-Term Corporate Bond ETF

VCSH Description

The investment seeks to track the performance of a market-weighted corporate bond index with a short-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 1-5 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 between 1 and 5 years. At least 80% of the fund's assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$79.52

Average Daily Volume

3,194,149

Number of Holdings ^*

444

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	VCSH
30 Days	2.67%	1.08%
60 Days	4.35%	2.61%
90 Days	7.25%	3.94%
12 Months	29.57%	9.83%

371 Overlapping Holdings

	Symbol	Grade	Weight in FNDX	Weight in VCSH	Overlap
	A	C	0.06%	0.02%	0.02%
	AAPL	C	4.32%	0.03%	0.03%
	ABBV	B	0.6%	0.02%	0.02%
	ABT	C	0.34%	0.02%	0.02%
	ADBE	F	0.19%	0.03%	0.03%
	ADI	C	0.13%	0.02%	0.02%
	ADM	D	0.22%	0.05%	0.05%
	ADP	C	0.14%	0.05%	0.05%
	ADSK	B	0.03%	0.01%	0.01%
	AEE	B	0.07%	0.01%	0.01%
	AEP	C	0.19%	0.01%	0.01%
	AER	C	0.03%	0.03%	0.03%
	AES	C	0.07%	0.02%	0.02%
	AFG	C	0.05%	0.02%	0.02%
	AFL	A	0.23%	0.02%	0.02%
	AIG	D	0.28%	0.06%	0.06%
	AIZ	B	0.03%	0.02%	0.02%
	AL	C	0.02%	0.02%	0.02%
	ALB	D	0.02%	0.02%	0.02%
	ALL	C	0.29%	0.01%	0.01%
	ALLE	B	0.02%	0.02%	0.02%
	ALLY	F	0.1%	0.01%	0.01%
	AMAT	D	0.25%	0.03%	0.03%
	AMD	C	0.09%	0.01%	0.01%
	AMG	C	0.04%	0.01%	0.01%
	AMGN	D	0.48%	0.01%	0.01%
	AMP	B	0.12%	0.01%	0.01%
	AMT	C	0.14%	0.01%	0.01%
	AMZN	C	1.38%	0.04%	0.04%
	AN	C	0.05%	0.02%	0.02%
	AON	B	0.12%	0.01%	0.01%
	APD	B	0.12%	0.01%	0.01%
	APH	C	0.09%	0.02%	0.02%
	APTV	D	0.04%	0.03%	0.03%
	ARE	C	0.03%	0.01%	0.01%
	ARW	B	0.08%	0.01%	0.01%
	ATO	B	0.04%	0.03%	0.03%
	AVB	C	0.06%	0.01%	0.01%
	AVGO	C	0.67%	0.01%	0.01%
	AVT	B	0.07%	0.01%	0.01%
	AWK	C	0.05%	0.01%	0.01%
	AXP	B	0.37%	0.03%	0.03%
	AZO	B	0.06%	0.01%	0.01%
	BA	F	0.13%	0.01%	0.01%
	BAC	D	1.22%	0.01%	0.01%
	BAX	C	0.09%	0.03%	0.03%
	BC	C	0.03%	0.02%	0.02%
	BDX	D	0.11%	0.02%	0.02%
	BEN	F	0.04%	0.02%	0.02%
	BERY	B	0.04%	0.03%	0.03%
	BG	F	0.11%	0.03%	0.03%
	BIIB	F	0.1%	0.08%	0.08%
	BK	B	0.26%	0.01%	0.01%
	BKNG	B	0.2%	0.02%	0.02%
	BLK	B	0.25%	0.05%	0.05%
	BMY	C	0.36%	0.02%	0.02%
	BR	C	0.03%	0.02%	0.02%
	BRO	C	0.03%	0.02%	0.02%
	BRX	C	0.02%	0.02%	0.02%
	BSX	B	0.09%	0.01%	0.01%
	BWA	C	0.05%	0.02%	0.02%
	BXP	C	0.05%	0.03%	0.03%
	C	C	1.05%	0.02%	0.02%
	CAG	B	0.07%	0.01%	0.01%
	CAH	C	0.07%	0.02%	0.02%
	CARR	B	0.13%	0.09%	0.09%
	CAT	B	0.39%	0.02%	0.02%
	CB	B	0.29%	0.03%	0.03%
	CCI	C	0.11%	0.02%	0.02%
	CDNS	D	0.03%	0.02%	0.02%
	CE	D	0.06%	0.02%	0.02%
	CF	B	0.06%	0.02%	0.02%
	CFG	D	0.1%	0.01%	0.01%
	CHD	C	0.04%	0.01%	0.01%
	CHTR	D	0.32%	0.07%	0.07%
	CI	C	0.55%	0.01%	0.01%
	CL	C	0.16%	0.01%	0.01%
	CLX	C	0.04%	0.01%	0.01%
	CMA	C	0.06%	0.01%	0.01%
	CMCSA	C	0.74%	0.03%	0.03%
	CME	B	0.08%	0.03%	0.03%
	CMI	B	0.17%	0.02%	0.02%
	CMS	B	0.06%	0.01%	0.01%
	CNH	C	0.03%	0.02%	0.02%
	CNO	C	0.04%	0.03%	0.03%
	CNP	C	0.06%	0.01%	0.01%
	COF	B	0.39%	0.01%	0.01%
	COP	F	0.42%	0.01%	0.01%
	COST	C	0.72%	0.06%	0.06%
	CPB	C	0.04%	0.02%	0.02%
	CPT	C	0.02%	0.02%	0.02%
	CRM	C	0.12%	0.05%	0.05%
	CSCO	B	0.74%	0.02%	0.02%
	CSL	B	0.05%	0.01%	0.01%
	CSX	C	0.21%	0.02%	0.02%
	CTVA	B	0.09%	0.02%	0.02%
	CVS	D	0.68%	0.02%	0.02%
	CVX	F	1.07%	0.02%	0.02%
	D	C	0.19%	0.01%	0.01%
	DAL	C	0.02%	0.01%	0.01%
	DD	B	0.18%	0.08%	0.08%
	DE	A	0.22%	0.01%	0.01%
	DELL	C	0.01%	0.01%	0.01%
	DFS	C	0.21%	0.01%	0.01%
	DG	F	0.08%	0.01%	0.01%
	DGX	B	0.07%	0.02%	0.02%
	DHI	C	0.2%	0.01%	0.01%
	DHR	B	0.17%	0.02%	0.02%
	DIS	D	0.38%	0.03%	0.03%
	DLR	B	0.08%	0.03%	0.03%
	DLTR	F	0.05%	0.05%	0.05%
	DOC	B	0.04%	0.02%	0.02%
	DOV	B	0.06%	0.02%	0.02%
	DOW	C	0.19%	0.01%	0.01%
	DTE	A	0.08%	0.01%	0.01%
	DUK	B	0.34%	0.01%	0.01%
	DVN	F	0.08%	0.02%	0.02%
	DXC	D	0.05%	0.03%	0.03%
	EA	D	0.08%	0.02%	0.02%
	EBAY	B	0.2%	0.03%	0.03%
	ED	B	0.13%	0.01%	0.01%
	EFX	C	0.04%	0.02%	0.02%
	EIX	B	0.11%	0.01%	0.01%
	EL	D	0.04%	0.03%	0.03%
	EMN	B	0.08%	0.03%	0.03%
	EMR	D	0.15%	0.01%	0.01%
	EOG	D	0.2%	0.02%	0.02%
	EQH	C	0.05%	0.02%	0.02%
	EQIX	B	0.08%	0.02%	0.02%
	EQR	C	0.06%	0.02%	0.02%
	ES	B	0.09%	0.01%	0.01%
	ESS	C	0.04%	0.01%	0.01%
	ETN	C	0.21%	0.07%	0.07%
	ETR	A	0.11%	0.01%	0.01%
	EVRG	B	0.07%	0.01%	0.01%
	EXC	B	0.18%	0.01%	0.01%
	EXPE	C	0.03%	0.02%	0.02%
	FAF	B	0.04%	0.01%	0.01%
	FANG	F	0.05%	0.02%	0.02%
	FDX	D	0.33%	0.03%	0.03%
	FE	B	0.1%	0.01%	0.01%
	FHN	D	0.03%	0.01%	0.01%
	FIS	C	0.13%	0.03%	0.03%
	FITB	B	0.13%	0.03%	0.03%
	FLEX	B	0.05%	0.02%	0.02%
	FMC	B	0.03%	0.01%	0.01%
	FOXA	B	0.09%	0.04%	0.04%
	FTNT	B	0.03%	0.02%	0.02%
	FTV	C	0.03%	0.04%	0.03%
	G	C	0.02%	0.01%	0.01%
	GD	C	0.23%	0.02%	0.02%
	GE	C	0.18%	0.01%	0.01%
	GILD	B	0.35%	0.04%	0.04%
	GIS	B	0.13%	0.03%	0.03%
	GLPI	C	0.02%	0.03%	0.02%
	GM	C	0.69%	0.02%	0.02%
	GOOGL	D	1.23%	0.04%	0.04%
	GPN	D	0.08%	0.03%	0.03%
	GS	B	0.57%	0.01%	0.01%
	GWW	B	0.07%	0.02%	0.02%
	GXO	D	0.02%	0.02%	0.02%
	HAL	F	0.06%	0.03%	0.03%
	HAS	B	0.04%	0.03%	0.03%
	HBAN	B	0.07%	0.01%	0.01%
	HCA	B	0.26%	0.06%	0.06%
	HD	B	0.79%	0.01%	0.01%
	HES	F	0.04%	0.01%	0.01%
	HII	F	0.04%	0.01%	0.01%
	HOG	C	0.03%	0.02%	0.02%
	HON	C	0.34%	0.01%	0.01%
	HPE	C	0.18%	0.03%	0.03%
	HPQ	C	0.2%	0.05%	0.05%
	HRB	C	0.02%	0.02%	0.02%
	HRL	F	0.03%	0.03%	0.03%
	HST	D	0.04%	0.02%	0.02%
	HSY	D	0.04%	0.01%	0.01%
	HUBB	B	0.03%	0.01%	0.01%
	HUM	F	0.2%	0.02%	0.02%
	IBM	B	0.62%	0.02%	0.02%
	ICE	C	0.13%	0.02%	0.02%
	IFF	A	0.06%	0.01%	0.01%
	ILMN	D	0.03%	0.02%	0.02%
	INTC	D	0.64%	0.03%	0.03%
	INTU	D	0.1%	0.02%	0.02%
	IP	C	0.16%	0.02%	0.02%
	IPG	C	0.04%	0.01%	0.01%
	ITW	B	0.15%	0.04%	0.04%
	IVZ	B	0.04%	0.02%	0.02%
	JBHT	D	0.04%	0.03%	0.03%
	JBL	C	0.05%	0.01%	0.01%
	JCI	B	0.15%	0.02%	0.02%
	JEF	C	0.05%	0.03%	0.03%
	JHG	B	0.03%	0.01%	0.01%
	JNJ	C	1.0%	0.02%	0.02%
	JNPR	A	0.05%	0.03%	0.03%
	JPM	D	1.93%	0.01%	0.01%
	K	A	0.07%	0.02%	0.02%
	KDP	B	0.08%	0.02%	0.02%
	KEY	C	0.09%	0.01%	0.01%
	KEYS	B	0.03%	0.02%	0.02%
	KIM	C	0.03%	0.01%	0.01%
	KLAC	D	0.1%	0.06%	0.06%
	KMB	C	0.11%	0.01%	0.01%
	KMI	C	0.19%	0.02%	0.02%
	KO	B	0.43%	0.06%	0.06%
	KR	B	0.3%	0.02%	0.02%
	KSS	D	0.07%	0.01%	0.01%
	L	D	0.05%	0.02%	0.02%
	LDOS	A	0.08%	0.02%	0.02%
	LEG	D	0.02%	0.01%	0.01%
	LEN	B	0.19%	0.01%	0.01%
	LHX	C	0.16%	0.02%	0.02%
	LII	C	0.03%	0.01%	0.01%
	LIN	B	0.35%	0.02%	0.02%
	LLY	D	0.26%	0.02%	0.02%
	LMT	A	0.4%	0.05%	0.05%
	LNC	C	0.05%	0.01%	0.01%
	LNT	A	0.04%	0.02%	0.02%
	LOW	B	0.42%	0.01%	0.01%
	LRCX	D	0.16%	0.02%	0.02%
	LUV	C	0.02%	0.01%	0.01%
	LVS	C	0.03%	0.02%	0.02%
	LYB	D	0.15%	0.02%	0.02%
	MA	B	0.28%	0.04%	0.04%
	MAA	C	0.04%	0.01%	0.01%
	MAR	B	0.08%	0.01%	0.01%
	MCD	B	0.34%	0.01%	0.01%
	MCHP	D	0.05%	0.01%	0.01%
	MCK	F	0.1%	0.01%	0.01%
	MCO	C	0.08%	0.02%	0.02%
	MDLZ	C	0.23%	0.01%	0.01%
	MDT	B	0.27%	0.08%	0.08%
	MET	B	0.26%	0.02%	0.02%
	MHK	B	0.08%	0.03%	0.03%
	MKC	C	0.04%	0.02%	0.02%
	MLM	D	0.04%	0.01%	0.01%
	MMC	C	0.15%	0.01%	0.01%
	MMM	B	0.4%	0.01%	0.01%
	MO	C	0.37%	0.01%	0.01%
	MOS	F	0.05%	0.03%	0.03%
	MPC	F	0.41%	0.03%	0.03%
	MRK	F	0.51%	0.04%	0.04%
	MRVL	D	0.04%	0.02%	0.02%
	MS	B	0.36%	0.03%	0.03%
	MSFT	C	2.53%	0.04%	0.04%
	MSI	B	0.06%	0.03%	0.03%
	MTB	C	0.1%	0.02%	0.02%
	MU	D	0.35%	0.03%	0.03%
	NDAQ	C	0.03%	0.01%	0.01%
	NEE	B	0.29%	0.01%	0.01%
	NEM	C	0.19%	0.01%	0.01%
	NFG	B	0.02%	0.01%	0.01%
	NI	B	0.05%	0.05%	0.05%
	NKE	D	0.18%	0.02%	0.02%
	NOC	B	0.21%	0.05%	0.05%
	NSC	C	0.2%	0.01%	0.01%
	NTAP	D	0.08%	0.02%	0.02%
	NTRS	C	0.07%	0.04%	0.04%
	NUE	D	0.18%	0.03%	0.03%
	NVDA	C	0.37%	0.02%	0.02%
	NVT	C	0.02%	0.01%	0.01%
	NXPI	D	0.08%	0.02%	0.02%
	O	B	0.04%	0.01%	0.01%
	OC	C	0.06%	0.01%	0.01%
	OKE	C	0.13%	0.02%	0.02%
	OMC	B	0.08%	0.06%	0.06%
	ORCL	B	0.49%	0.05%	0.05%
	ORI	B	0.05%	0.02%	0.02%
	ORLY	B	0.1%	0.01%	0.01%
	OTIS	B	0.05%	0.07%	0.05%
	PCAR	D	0.13%	0.01%	0.01%
	PCG	C	0.03%	0.01%	0.01%
	PEG	B	0.11%	0.01%	0.01%
	PEP	D	0.45%	0.02%	0.02%
	PFE	D	0.76%	0.03%	0.03%
	PFG	B	0.08%	0.01%	0.01%
	PG	C	0.85%	0.01%	0.01%
	PH	B	0.12%	0.02%	0.02%
	PHM	B	0.13%	0.03%	0.03%
	PKG	B	0.07%	0.01%	0.01%
	PM	C	0.51%	0.02%	0.02%
	PNC	C	0.29%	0.02%	0.02%
	PNW	C	0.05%	0.01%	0.01%
	PPG	C	0.08%	0.01%	0.01%
	PPL	A	0.11%	0.01%	0.01%
	PRU	C	0.23%	0.03%	0.03%
	PSA	C	0.06%	0.02%	0.02%
	PSX	F	0.36%	0.01%	0.01%
	PVH	D	0.04%	0.03%	0.03%
	PYPL	B	0.19%	0.03%	0.03%
	QCOM	D	0.46%	0.04%	0.04%
	R	C	0.06%	0.01%	0.01%
	RF	B	0.08%	0.04%	0.04%
	RGA	C	0.04%	0.01%	0.01%
	RL	B	0.03%	0.02%	0.02%
	ROK	D	0.05%	0.01%	0.01%
	ROP	C	0.05%	0.01%	0.01%
	ROST	C	0.08%	0.02%	0.02%
	RPM	B	0.04%	0.01%	0.01%
	RS	D	0.08%	0.01%	0.01%
	RSG	D	0.07%	0.01%	0.01%
	RTX	B	0.36%	0.02%	0.02%
	SBUX	C	0.26%	0.02%	0.02%
	SCHW	D	0.1%	0.01%	0.01%
	SHW	B	0.09%	0.02%	0.02%
	SLB	F	0.11%	0.02%	0.02%
	SLG	C	0.03%	0.01%	0.01%
	SNV	D	0.02%	0.01%	0.01%
	SNX	C	0.03%	0.03%	0.03%
	SO	B	0.29%	0.01%	0.01%
	SPG	B	0.11%	0.02%	0.02%
	SPGI	C	0.15%	0.03%	0.03%
	SRE	B	0.12%	0.01%	0.01%
	STLD	C	0.09%	0.02%	0.02%
	STT	B	0.1%	0.03%	0.03%
	STZ	C	0.07%	0.02%	0.02%
	SWK	B	0.08%	0.03%	0.03%
	SWKS	F	0.05%	0.03%	0.03%
	SYF	C	0.27%	0.03%	0.03%
	SYK	C	0.13%	0.01%	0.01%
	SYY	C	0.1%	0.03%	0.03%
	T	B	1.39%	0.01%	0.01%
	TAP	D	0.05%	0.1%	0.05%
	TDY	B	0.02%	0.02%	0.02%
	TEL	D	0.11%	0.01%	0.01%
	TFC	D	0.22%	0.01%	0.01%
	TGT	C	0.38%	0.05%	0.05%
	THG	C	0.02%	0.02%	0.02%
	TJX	C	0.24%	0.04%	0.04%
	TKR	C	0.02%	0.01%	0.01%
	TMO	B	0.29%	0.01%	0.01%
	TMUS	B	0.24%	0.04%	0.04%
	TRMB	C	0.03%	0.01%	0.01%
	TSN	D	0.2%	0.01%	0.01%
	TT	B	0.09%	0.02%	0.02%
	TXN	B	0.34%	0.01%	0.01%
	TXT	D	0.06%	0.01%	0.01%
	UDR	C	0.03%	0.01%	0.01%
	UHS	C	0.1%	0.01%	0.01%
	UNH	C	1.23%	0.01%	0.01%
	UNM	B	0.05%	0.02%	0.02%
	UNP	D	0.4%	0.01%	0.01%
	UPS	D	0.25%	0.02%	0.02%
	USB	C	0.3%	0.02%	0.02%
	V	C	0.35%	0.13%	0.13%
	VFC	B	0.06%	0.04%	0.04%
	VLO	F	0.37%	0.03%	0.03%
	VMC	C	0.04%	0.01%	0.01%
	VNO	B	0.05%	0.02%	0.02%
	VOYA	B	0.03%	0.02%	0.02%
	VRSK	D	0.04%	0.05%	0.04%
	VTR	C	0.09%	0.02%	0.02%
	VTRS	D	0.09%	0.03%	0.03%
	VZ	A	1.33%	0.06%	0.06%
	WAB	B	0.06%	0.03%	0.03%
	WBA	F	0.14%	0.06%	0.06%
	WEC	B	0.08%	0.02%	0.02%
	WELL	C	0.11%	0.01%	0.01%
	WFC	D	1.09%	0.01%	0.01%
	WHR	C	0.07%	0.01%	0.01%
	WLK	C	0.02%	0.04%	0.02%
	WM	D	0.15%	0.02%	0.02%
	WMB	C	0.15%	0.03%	0.03%
	WMT	B	1.5%	0.02%	0.02%
	WPC	C	0.02%	0.02%	0.02%
	WU	C	0.04%	0.01%	0.01%
	WY	C	0.09%	0.01%	0.01%
	XEL	B	0.12%	0.01%	0.01%
	XOM	D	1.91%	0.02%	0.02%
	ZBH	F	0.05%	0.02%	0.02%
	ZTS	B	0.08%	0.04%	0.04%

FNDX Overweight 345 Positions Relative to VCSH

	Symbol	Grade	Weight
	BRK.A	C	2.26%
	META	B	1.85%
	GOOG	D	1.07%
	LUMN	C	0.58%
	ELV	D	0.5%
	ACN	C	0.34%
	TRV	C	0.31%
	F	F	0.31%
	PGR	C	0.26%
	CNC	D	0.25%
	BBY	A	0.19%
	TSLA	C	0.18%
	CTSH	B	0.18%
	REGN	D	0.16%
	NFLX	B	0.15%
	HIG	B	0.15%
	FCX	C	0.14%
	GLW	B	0.14%
	BKR	C	0.14%
	CBRE	B	0.13%
	URI	B	0.13%
	WDC	C	0.13%
	KKR	B	0.12%
	BX	C	0.12%
	VST	B	0.12%
	NRG	B	0.11%
	KHC	C	0.11%
	OXY	F	0.11%
	SW	B	0.11%
	TROW	C	0.11%
	STX	B	0.1%
	CEG	C	0.1%
	ISRG	C	0.09%
	CTAS	C	0.09%
	JLL	B	0.09%
	ECL	B	0.09%
	PARA	D	0.09%
	IRM	C	0.08%
	X	F	0.08%
	VRTX	D	0.08%
	TDG	B	0.08%
	MRO	D	0.08%
	PLD	C	0.08%
	YUM	B	0.08%
	NVR	B	0.08%
	IQV	D	0.08%
	THC	C	0.08%
	FAST	C	0.07%
	OGN	D	0.07%
	KMX	D	0.07%
	FNF	B	0.07%
	WTW	B	0.07%
	DVA	B	0.07%
	GEHC	B	0.07%
	CINF	C	0.07%
	CHRW	B	0.07%
	USFD	C	0.07%
	J	A	0.06%
	WSM	C	0.06%
	CDW	D	0.06%
	EME	B	0.06%
	MAS	B	0.06%
	HLT	B	0.06%
	TOL	A	0.06%
	SJM	C	0.06%
	TSCO	B	0.06%
	PAYX	C	0.06%
	TRGP	C	0.06%
	HWM	B	0.06%
	PWR	B	0.06%
	WBD	D	0.06%
	BALL	C	0.06%
	MKL	C	0.05%
	INGR	B	0.05%
	UGI	B	0.05%
	TDS	B	0.05%
	DRI	C	0.05%
	AME	C	0.05%
	QRVO	F	0.05%
	TER	C	0.05%
	DKS	D	0.05%
	ODFL	D	0.05%
	ACGL	B	0.05%
	MUSA	D	0.05%
	GPI	B	0.05%
	KD	F	0.05%
	SFM	B	0.05%
	DINO	F	0.05%
	GEV	B	0.05%
	AA	C	0.05%
	CPAY	B	0.05%
	MAN	C	0.05%
	CCL	C	0.05%
	ZION	D	0.05%
	LKQ	F	0.05%
	MOH	D	0.05%
	LNG	D	0.05%
	PFGC	B	0.05%
	LEA	D	0.05%
	MGM	D	0.05%
	AJG	D	0.05%
	OMF	D	0.05%
	M	F	0.05%
	LAD	B	0.05%
	CASY	D	0.05%
	GPC	D	0.05%
	FL	F	0.04%
	DPZ	D	0.04%
	ZBRA	B	0.04%
	MTD	C	0.04%
	LPX	B	0.04%
	ANET	C	0.04%
	PNR	B	0.04%
	WRB	D	0.04%
	SLM	C	0.04%
	BAP	B	0.04%
	MTH	C	0.04%
	WAT	B	0.04%
	AYI	B	0.04%
	BAH	B	0.04%
	CMG	D	0.04%
	ON	D	0.04%
	XYL	C	0.04%
	EW	F	0.04%
	UBER	C	0.04%
	EXR	C	0.04%
	MRNA	F	0.04%
	RMD	C	0.04%
	SSNC	C	0.04%
	THO	C	0.04%
	FYBR	C	0.04%
	GAP	F	0.04%
	TMHC	B	0.04%
	JXN	B	0.04%
	KNX	C	0.04%
	TPR	A	0.04%
	DOX	C	0.04%
	CCK	B	0.04%
	MNST	D	0.04%
	BLDR	C	0.04%
	EVR	B	0.04%
	RJF	C	0.04%
	NWSA	D	0.04%
	SOLV	D	0.04%
	AVY	C	0.04%
	HSIC	C	0.04%
	GRMN	D	0.04%
	ZIM	B	0.04%
	ACM	B	0.04%
	ALSN	B	0.04%
	HOLX	D	0.04%
	SNA	B	0.04%
	OVV	F	0.04%
	REG	C	0.03%
	SKX	C	0.03%
	LAMR	B	0.03%
	AOS	B	0.03%
	ITT	B	0.03%
	GNTX	D	0.03%
	AAP	F	0.03%
	IDXX	D	0.03%
	CW	B	0.03%
	SCI	C	0.03%
	MTG	B	0.03%
	FLR	D	0.03%
	CIEN	B	0.03%
	EWBC	C	0.03%
	LPLA	D	0.03%
	CG	C	0.03%
	SON	D	0.03%
	SAIC	C	0.03%
	EG	B	0.03%
	SUI	C	0.03%
	CLF	F	0.03%
	AVTR	C	0.03%
	SWN	C	0.03%
	BPOP	C	0.03%
	MSCI	C	0.03%
	AGCO	D	0.03%
	CMC	D	0.03%
	CRBG	C	0.03%
	PBF	F	0.03%
	RRX	C	0.03%
	GT	F	0.03%
	KVUE	B	0.03%
	NWL	C	0.03%
	TRU	B	0.03%
	INVH	D	0.03%
	CHKP	B	0.03%
	SNPS	F	0.03%
	OLN	D	0.03%
	ULTA	D	0.03%
	IR	B	0.03%
	MLI	B	0.03%
	APA	F	0.03%
	ARMK	B	0.03%
	MTZ	C	0.03%
	GNW	C	0.03%
	TPH	C	0.03%
	FFIV	B	0.03%
	OGE	B	0.03%
	APO	B	0.03%
	STE	B	0.03%
	BURL	C	0.03%
	PANW	D	0.03%
	RHI	D	0.03%
	NXST	D	0.03%
	DECK	C	0.03%
	GL	D	0.03%
	WCC	C	0.03%
	SANM	D	0.03%
	CCEP	C	0.03%
	KBH	C	0.03%
	IT	C	0.03%
	CACI	B	0.03%
	WSO	C	0.03%
	HBI	A	0.03%
	GPK	C	0.03%
	HUN	C	0.03%
	EQT	C	0.03%
	UFPI	C	0.03%
	BCC	C	0.03%
	OSK	F	0.03%
	AKAM	D	0.03%
	BLD	C	0.02%
	EPAM	F	0.02%
	DAN	D	0.02%
	WST	D	0.02%
	UNFI	B	0.02%
	CBOE	C	0.02%
	OI	D	0.02%
	ICLR	F	0.02%
	CNX	B	0.02%
	AMCR	B	0.02%
	FTI	D	0.02%
	MIDD	C	0.02%
	CZR	C	0.02%
	BECN	F	0.02%
	SM	F	0.02%
	LECO	D	0.02%
	WERN	C	0.02%
	MKSI	F	0.02%
	LULU	D	0.02%
	XRAY	D	0.02%
	CHK	C	0.02%
	FLO	C	0.02%
	ANSS	D	0.02%
	CC	D	0.02%
	SQ	D	0.02%
	DAR	F	0.02%
	PRGO	F	0.02%
	REZI	D	0.02%
	FSLR	C	0.02%
	KBR	D	0.02%
	CAR	D	0.02%
	CYH	C	0.02%
	HUBG	C	0.02%
	ACI	F	0.02%
	TGNA	C	0.02%
	TTC	F	0.02%
	CRI	D	0.02%
	GNRC	D	0.02%
	PENN	D	0.02%
	JWN	C	0.02%
	FCNCA	D	0.02%
	POR	B	0.02%
	MUR	F	0.02%
	GGG	C	0.02%
	NDSN	C	0.02%
	TPX	B	0.02%
	ASGN	D	0.02%
	UHAL	B	0.02%
	EXPD	B	0.02%
	RUSHA	C	0.02%
	ASO	D	0.02%
	PAG	D	0.02%
	NAVI	D	0.02%
	POOL	C	0.02%
	XRX	D	0.02%
	BTU	C	0.02%
	DCI	C	0.02%
	ST	D	0.02%
	QRTEA	F	0.02%
	SBAC	C	0.02%
	AR	C	0.02%
	NOV	F	0.02%
	STWD	B	0.02%
	POST	B	0.02%
	TFX	B	0.02%
	ATR	B	0.02%
	BJ	D	0.02%
	AXTA	B	0.02%
	JKHY	B	0.02%
	IEX	C	0.02%
	ALGN	D	0.02%
	ABG	D	0.02%
	CPRT	D	0.02%
	CTLT	B	0.02%
	PK	D	0.02%
	PRI	B	0.02%
	SEIC	B	0.02%
	ABM	D	0.02%
	MPW	C	0.02%
	MDU	B	0.02%
	PII	D	0.02%
	ALV	F	0.02%
	VICI	C	0.02%
	TTWO	D	0.02%
	EXP	B	0.02%
	EHC	B	0.02%
	BBWI	D	0.02%
	LSTR	D	0.02%
	SEE	C	0.02%
	CPRI	D	0.02%
	NSIT	C	0.02%
	GDDY	C	0.02%
	ALK	B	0.01%
	CNXC	F	0.01%
	HTZ	F	0.01%
	COHR	C	0.01%
	MATX	B	0.01%
	VSH	F	0.01%
	ANDE	D	0.01%
	DBX	C	0.01%
	CRL	F	0.01%
	VRSN	C	0.01%
	MSM	D	0.01%
	ARCH	D	0.01%
	JAZZ	D	0.01%
	DK	F	0.01%
	WTRG	D	0.01%
	VAC	D	0.01%
	CHE	C	0.01%
	LW	D	0.01%
	AEO	D	0.01%
	MMS	B	0.01%
	TNL	C	0.01%
	ADNT	D	0.01%
	CTRA	F	0.01%
	MTN	D	0.01%
	NOW	C	0.01%
	LILAK	D	0.01%
	SPTN	C	0.01%
	ODP	F	0.01%
	AAL	D	0.0%

FNDX Underweight 73 Positions Relative to VCSH

	Symbol	Grade	Weight
	STLA	F	-0.07%
	WB	C	-0.04%
	ARCC	A	-0.04%
	RPRX	C	-0.04%
	GSK	D	-0.04%
	AZN	D	-0.04%
	AGR	C	-0.03%
	JD	A	-0.03%
	WAL	B	-0.03%
	EPD	C	-0.03%
	MPLX	B	-0.03%
	SKT	B	-0.02%
	VNT	F	-0.02%
	BKU	D	-0.02%
	GBDC	C	-0.02%
	HP	F	-0.02%
	KMPR	D	-0.02%
	FRT	C	-0.02%
	NNN	B	-0.02%
	SF	B	-0.02%
	SBRA	C	-0.02%
	TSLX	B	-0.02%
	BKH	B	-0.02%
	COKE	C	-0.02%
	BABA	B	-0.02%
	AWH	F	-0.02%
	GSBD	D	-0.02%
	OCSL	D	-0.02%
	LAZ	B	-0.02%
	OHI	C	-0.02%
	CNA	D	-0.02%
	FSK	A	-0.02%
	WRK	C	-0.02%
	ET	C	-0.02%
	CM	B	-0.02%
	RY	A	-0.02%
	TD	C	-0.02%
	HIW	C	-0.01%
	FNB	D	-0.01%
	CACC	F	-0.01%
	VLY	D	-0.01%
	EPR	C	-0.01%
	NEU	D	-0.01%
	NYCB	D	-0.01%
	RNR	B	-0.01%
	BDN	C	-0.01%
	BCSF	B	-0.01%
	TME	D	-0.01%
	SITC	D	-0.01%
	BHP	C	-0.01%
	FLS	C	-0.01%
	GP	D	-0.01%
	H	B	-0.01%
	OGS	B	-0.01%
	PSEC	C	-0.01%
	SCCO	C	-0.01%
	CUBE	C	-0.01%
	MAIN	B	-0.01%
	PDM	C	-0.01%
	KRC	C	-0.01%
	OPI	F	-0.01%
	CP	C	-0.01%
	UAL	B	-0.01%
	LH	D	-0.01%
	BIDU	C	-0.01%
	PAA	D	-0.01%
	BNS	B	-0.01%
	VOD	C	-0.01%
	DB	B	-0.01%
	BMO	C	-0.01%
	HSBC	B	-0.01%
	NWG	B	-0.01%
	MUFG	D	-0.01%

FNDX: Top Represented Industries & Keywords

Industries: Diversified Industrials Asset Management Utilities - Regulated Electric Oil & Gas E&P Business Services Specialty Retail Banks - Regional - US Information Technology Services Semiconductors Software - Application Specialty Chemicals Packaged Foods Packaging & Containers Credit Services Diagnostics & Research 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 Telecommunications Real Estate Investment Trust Semiconductor Transport Insurance Products Medicine Beverage

VCSH: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Asset Management Banks - Regional - US Banks - Global Credit Services Diversified Industrials Drug Manufacturers - Major Semiconductors REIT - Office REIT - Retail Specialty Chemicals Business Services Utilities - Diversified Aerospace & Defense Capital Markets Diagnostics & Research Insurance - Life Oil & Gas Midstream Household & Personal Products Insurance - Property & Casualty

Keywords: S&P 500 Nasdaq 100 Natural Gas Bank Insurance Banking Electricity Real Estate Investment Trust Dow Jones Component Investment Bank Electronics Cash Management Computing Insurance Products Chemical Financial Products Aerospace Commercial Banking Semiconductor Disability