FNDX vs. VFVA ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to Vanguard Wellington Fund ETF (VFVA)

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

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	FNDX	VFVA
30 Days	3.67%	6.78%
60 Days	4.58%	7.36%
90 Days	6.53%	7.38%
12 Months	29.67%	28.66%

269 Overlapping Holdings

	Symbol	Grade	Weight in FNDX	Weight in VFVA	Overlap
	ABG	B	0.03%	0.15%	0.03%
	ACGL	D	0.03%	0.2%	0.03%
	ADM	D	0.21%	0.23%	0.21%
	ADNT	F	0.02%	0.19%	0.02%
	AEO	F	0.01%	0.18%	0.01%
	AFL	B	0.21%	0.09%	0.09%
	AGCO	D	0.03%	0.18%	0.03%
	AIG	B	0.28%	0.51%	0.28%
	AL	B	0.02%	0.41%	0.02%
	ALK	C	0.02%	0.23%	0.02%
	ALL	A	0.27%	0.17%	0.17%
	ALLY	C	0.1%	0.25%	0.1%
	ALSN	B	0.05%	0.16%	0.05%
	AMG	B	0.04%	0.21%	0.04%
	ANDE	D	0.01%	0.12%	0.01%
	ANET	C	0.04%	0.03%	0.03%
	APA	D	0.03%	0.22%	0.03%
	APO	B	0.03%	0.05%	0.03%
	APTV	D	0.02%	0.14%	0.02%
	AR	B	0.03%	0.13%	0.03%
	ARW	D	0.08%	0.43%	0.08%
	ASGN	F	0.02%	0.05%	0.02%
	ASO	F	0.02%	0.21%	0.02%
	AVT	C	0.07%	0.25%	0.07%
	AZO	C	0.06%	0.26%	0.06%
	BAC	A	1.3%	0.76%	0.76%
	BBWI	D	0.03%	0.18%	0.03%
	BC	C	0.03%	0.18%	0.03%
	BCC	B	0.04%	0.07%	0.04%
	BDX	F	0.11%	0.29%	0.11%
	BEN	C	0.04%	0.05%	0.04%
	BERY	B	0.04%	0.38%	0.04%
	BFH	B	0.05%	0.17%	0.05%
	BG	F	0.1%	0.27%	0.1%
	BK	A	0.26%	0.5%	0.26%
	BLDR	D	0.06%	0.08%	0.06%
	BMY	B	0.45%	0.46%	0.45%
	BPOP	B	0.02%	0.06%	0.02%
	BTU	B	0.03%	0.17%	0.03%
	BWA	D	0.05%	0.25%	0.05%
	C	A	1.1%	0.72%	0.72%
	CAG	D	0.06%	0.16%	0.06%
	CAH	B	0.07%	0.26%	0.07%
	CB	C	0.26%	0.48%	0.26%
	CC	C	0.02%	0.02%	0.02%
	CCL	B	0.06%	0.23%	0.06%
	CE	F	0.03%	0.3%	0.03%
	CF	B	0.07%	0.18%	0.07%
	CFG	B	0.1%	0.13%	0.1%
	CG	A	0.03%	0.03%	0.03%
	CI	F	0.48%	0.66%	0.48%
	CLF	F	0.03%	0.21%	0.03%
	CMA	A	0.07%	0.15%	0.07%
	CMC	B	0.03%	0.19%	0.03%
	CMCSA	B	0.83%	0.68%	0.68%
	CNC	D	0.19%	0.22%	0.19%
	CNH	C	0.02%	0.16%	0.02%
	CNO	A	0.04%	0.04%	0.04%
	CNXC	F	0.01%	0.06%	0.01%
	COF	B	0.48%	0.66%	0.48%
	COHR	B	0.02%	0.07%	0.02%
	COP	C	0.48%	0.65%	0.48%
	CRBG	B	0.04%	0.02%	0.02%
	CSCO	B	0.82%	0.14%	0.14%
	CTRA	B	0.03%	0.19%	0.03%
	CVS	D	0.68%	0.74%	0.68%
	CVX	A	1.25%	0.7%	0.7%
	DAL	C	0.03%	0.2%	0.03%
	DAN	D	0.01%	0.17%	0.01%
	DAR	C	0.02%	0.17%	0.02%
	DBX	B	0.01%	0.2%	0.01%
	DE	A	0.23%	0.15%	0.15%
	DG	F	0.08%	0.02%	0.02%
	DGX	A	0.07%	0.03%	0.03%
	DHI	D	0.16%	0.31%	0.16%
	DINO	D	0.05%	0.16%	0.05%
	DIS	B	0.45%	0.4%	0.4%
	DLTR	F	0.05%	0.1%	0.05%
	DOW	F	0.18%	0.18%	0.18%
	DVN	F	0.09%	0.08%	0.08%
	DXC	B	0.05%	0.23%	0.05%
	EBAY	D	0.17%	0.05%	0.05%
	EG	C	0.02%	0.17%	0.02%
	ELV	F	0.36%	0.07%	0.07%
	EMN	D	0.08%	0.09%	0.08%
	EMR	A	0.17%	0.14%	0.14%
	EOG	A	0.23%	0.75%	0.23%
	EQH	B	0.05%	0.07%	0.05%
	EQT	B	0.04%	0.17%	0.04%
	EWBC	A	0.03%	0.08%	0.03%
	F	C	0.33%	0.68%	0.33%
	FAF	A	0.04%	0.08%	0.04%
	FANG	D	0.05%	0.3%	0.05%
	FCNCA	A	0.02%	0.12%	0.02%
	FCX	D	0.14%	0.43%	0.14%
	FDX	B	0.32%	0.89%	0.32%
	FHN	A	0.03%	0.1%	0.03%
	FI	A	0.13%	0.53%	0.13%
	FIS	C	0.12%	0.22%	0.12%
	FL	F	0.03%	0.09%	0.03%
	FMC	D	0.03%	0.05%	0.03%
	FNF	B	0.06%	0.14%	0.06%
	FSLR	F	0.01%	0.02%	0.01%
	GAP	C	0.04%	0.1%	0.04%
	GD	F	0.21%	0.26%	0.21%
	GILD	C	0.37%	0.44%	0.37%
	GL	B	0.03%	0.08%	0.03%
	GM	B	0.79%	0.87%	0.79%
	GNW	A	0.03%	0.12%	0.03%
	GOOG	C	1.14%	0.06%	0.06%
	GPI	A	0.05%	0.06%	0.05%
	GPK	C	0.03%	0.06%	0.03%
	GPN	B	0.09%	0.1%	0.09%
	GS	A	0.62%	0.44%	0.44%
	GT	C	0.04%	0.34%	0.04%
	HAL	C	0.06%	0.07%	0.06%
	HBI	B	0.03%	0.09%	0.03%
	HCA	F	0.2%	0.76%	0.2%
	HIG	B	0.14%	0.07%	0.07%
	HII	D	0.03%	0.11%	0.03%
	HOG	D	0.02%	0.18%	0.02%
	HPE	B	0.21%	0.32%	0.21%
	HPQ	B	0.21%	0.42%	0.21%
	HRB	D	0.01%	0.13%	0.01%
	HUBG	A	0.02%	0.04%	0.02%
	IBM	C	0.54%	0.18%	0.18%
	INGR	B	0.05%	0.17%	0.05%
	INTC	D	0.89%	0.66%	0.66%
	IP	B	0.17%	0.02%	0.02%
	IVZ	B	0.05%	0.19%	0.05%
	JAZZ	B	0.01%	0.17%	0.01%
	JBL	B	0.06%	0.03%	0.03%
	JEF	A	0.06%	0.17%	0.06%
	JHG	A	0.03%	0.07%	0.03%
	JLL	D	0.08%	0.12%	0.08%
	JNJ	D	0.89%	0.18%	0.18%
	JPM	A	2.03%	0.54%	0.54%
	JXN	C	0.04%	0.15%	0.04%
	KBH	D	0.03%	0.21%	0.03%
	KEY	B	0.1%	0.19%	0.1%
	KHC	F	0.09%	0.1%	0.09%
	KMI	A	0.23%	0.11%	0.11%
	KNX	B	0.04%	0.19%	0.04%
	KR	B	0.3%	0.22%	0.22%
	LEA	D	0.05%	0.17%	0.05%
	LEG	F	0.02%	0.22%	0.02%
	LEN	D	0.16%	0.19%	0.16%
	LEN	D	0.16%	0.08%	0.08%
	LILAK	D	0.01%	0.19%	0.01%
	LKQ	D	0.05%	0.16%	0.05%
	LNC	B	0.05%	0.32%	0.05%
	LULU	C	0.01%	0.1%	0.01%
	LYB	F	0.14%	0.3%	0.14%
	M	D	0.06%	0.22%	0.06%
	MAN	D	0.04%	0.12%	0.04%
	MATX	C	0.02%	0.21%	0.02%
	MCK	B	0.11%	0.35%	0.11%
	MDT	D	0.16%	0.42%	0.16%
	MDU	D	0.02%	0.18%	0.02%
	MET	A	0.26%	0.52%	0.26%
	MHK	D	0.06%	0.28%	0.06%
	MKL	A	0.05%	0.04%	0.04%
	MLI	C	0.03%	0.22%	0.03%
	MMM	D	0.35%	0.07%	0.07%
	MO	A	0.37%	1.0%	0.37%
	MOS	F	0.06%	0.23%	0.06%
	MPC	D	0.4%	0.56%	0.4%
	MS	A	0.46%	0.32%	0.32%
	MTB	A	0.11%	0.18%	0.11%
	MTG	C	0.02%	0.28%	0.02%
	MTH	D	0.03%	0.05%	0.03%
	MU	D	0.38%	0.59%	0.38%
	MUR	D	0.02%	0.29%	0.02%
	NAVI	C	0.02%	0.13%	0.02%
	NEM	D	0.13%	0.4%	0.13%
	NOV	C	0.02%	0.19%	0.02%
	NUE	C	0.19%	0.38%	0.19%
	NWL	B	0.03%	0.13%	0.03%
	NWSA	B	0.04%	0.14%	0.04%
	NXST	C	0.03%	0.05%	0.03%
	OC	A	0.07%	0.07%	0.07%
	ODP	F	0.02%	0.18%	0.02%
	OGN	D	0.04%	0.15%	0.04%
	OI	C	0.02%	0.27%	0.02%
	OLN	D	0.03%	0.14%	0.03%
	OMF	A	0.06%	0.07%	0.06%
	ORI	A	0.05%	0.13%	0.05%
	OVV	B	0.06%	0.26%	0.06%
	OXY	D	0.11%	0.5%	0.11%
	PBF	D	0.03%	0.18%	0.03%
	PCAR	B	0.15%	0.42%	0.15%
	PENN	C	0.02%	0.06%	0.02%
	PFE	D	0.68%	0.36%	0.36%
	PFG	D	0.09%	0.06%	0.06%
	PHM	D	0.11%	0.11%	0.11%
	PII	D	0.02%	0.08%	0.02%
	PM	B	0.48%	0.13%	0.13%
	PNC	B	0.3%	0.33%	0.3%
	PRGO	B	0.01%	0.24%	0.01%
	PRU	A	0.22%	0.28%	0.22%
	PSX	C	0.36%	0.71%	0.36%
	PVH	C	0.04%	0.21%	0.04%
	PYPL	B	0.22%	0.24%	0.22%
	QCOM	F	0.43%	0.07%	0.07%
	QRVO	F	0.03%	0.12%	0.03%
	R	B	0.07%	0.41%	0.07%
	REZI	A	0.02%	0.14%	0.02%
	RF	A	0.09%	0.1%	0.09%
	RGA	A	0.04%	0.04%	0.04%
	RJF	A	0.05%	0.08%	0.05%
	RRX	B	0.03%	0.12%	0.03%
	RS	B	0.09%	0.02%	0.02%
	RTX	C	0.34%	0.14%	0.14%
	RUSHA	C	0.02%	0.06%	0.02%
	SAIC	F	0.02%	0.1%	0.02%
	SANM	B	0.03%	0.07%	0.03%
	SCHW	B	0.13%	0.1%	0.1%
	SJM	D	0.05%	0.15%	0.05%
	SLB	C	0.12%	0.69%	0.12%
	SLM	A	0.04%	0.03%	0.03%
	SM	B	0.02%	0.22%	0.02%
	SNV	B	0.03%	0.2%	0.03%
	SNX	C	0.03%	0.24%	0.03%
	SON	D	0.02%	0.21%	0.02%
	SPTN	D	0.01%	0.15%	0.01%
	SSNC	B	0.04%	0.08%	0.04%
	ST	F	0.02%	0.15%	0.02%
	STLD	B	0.11%	0.13%	0.11%
	STT	A	0.1%	0.02%	0.02%
	SYF	B	0.34%	0.33%	0.33%
	T	A	1.27%	1.01%	1.01%
	TAP	C	0.05%	0.16%	0.05%
	TDS	B	0.05%	0.12%	0.05%
	TFC	A	0.23%	0.73%	0.23%
	TGNA	B	0.02%	0.2%	0.02%
	TGT	F	0.38%	0.27%	0.27%
	THG	A	0.03%	0.04%	0.03%
	TKR	D	0.02%	0.09%	0.02%
	TMHC	B	0.04%	0.06%	0.04%
	TMUS	B	0.25%	0.3%	0.25%
	TNL	A	0.01%	0.21%	0.01%
	TOL	B	0.06%	0.16%	0.06%
	TPH	D	0.03%	0.21%	0.03%
	TPR	B	0.05%	0.04%	0.04%
	TRV	B	0.31%	0.48%	0.31%
	TSN	B	0.2%	0.07%	0.07%
	TXT	D	0.06%	0.09%	0.06%
	UFPI	B	0.04%	0.11%	0.04%
	UHAL	D	0.02%	0.22%	0.02%
	UHS	D	0.08%	0.16%	0.08%
	UNFI	A	0.01%	0.12%	0.01%
	UNM	A	0.06%	0.6%	0.06%
	USB	A	0.32%	0.71%	0.32%
	VAC	B	0.02%	0.09%	0.02%
	VLO	C	0.39%	0.66%	0.39%
	VSH	D	0.01%	0.07%	0.01%
	VTRS	A	0.1%	0.25%	0.1%
	VZ	C	1.13%	0.8%	0.8%
	WBD	C	0.08%	0.05%	0.05%
	WCC	B	0.04%	0.2%	0.04%
	WERN	C	0.02%	0.03%	0.02%
	WFC	A	1.35%	0.59%	0.59%
	WHR	B	0.08%	0.21%	0.08%
	WKC	D	0.08%	0.16%	0.08%
	WMB	A	0.17%	0.35%	0.17%
	XOM	B	1.99%	0.86%	0.86%
	XRAY	F	0.01%	0.06%	0.01%
	XRX	F	0.02%	0.05%	0.02%
	ZION	B	0.06%	0.16%	0.06%

FNDX Overweight 453 Positions Relative to VFVA

	Symbol	Grade	Weight
	AAPL	C	4.35%
	MSFT	F	2.43%
	BRK.A	B	2.17%
	META	D	1.79%
	AMZN	C	1.56%
	WMT	A	1.47%
	GOOGL	C	1.33%
	UNH	C	1.22%
	HD	A	0.8%
	PG	A	0.77%
	COST	B	0.66%
	LUMN	C	0.65%
	AVGO	D	0.61%
	ORCL	B	0.5%
	ABBV	D	0.49%
	LOW	D	0.43%
	MRK	F	0.42%
	CAT	B	0.41%
	PEP	F	0.41%
	NVDA	C	0.4%
	AMGN	D	0.39%
	LMT	D	0.37%
	HON	B	0.37%
	ACN	C	0.36%
	AXP	A	0.36%
	V	A	0.36%
	CHTR	C	0.35%
	KO	D	0.35%
	UNP	C	0.35%
	ABT	B	0.34%
	TXN	C	0.34%
	MCD	D	0.34%
	LIN	D	0.33%
	DUK	C	0.3%
	MA	C	0.29%
	TSLA	B	0.28%
	BLK	C	0.28%
	SBUX	A	0.28%
	UPS	C	0.28%
	DFS	B	0.26%
	SO	D	0.26%
	TMO	F	0.25%
	NEE	D	0.24%
	AMAT	F	0.24%
	BKNG	A	0.24%
	ETN	A	0.23%
	PGR	A	0.23%
	CSX	B	0.22%
	TJX	A	0.22%
	NSC	B	0.21%
	ADBE	C	0.2%
	MDLZ	F	0.2%
	NOC	D	0.2%
	LLY	F	0.2%
	CTSH	B	0.19%
	HUM	C	0.19%
	NKE	D	0.19%
	CMI	A	0.19%
	EXC	C	0.17%
	WBA	F	0.17%
	NFLX	A	0.17%
	D	C	0.17%
	DD	D	0.17%
	AEP	D	0.16%
	VST	B	0.16%
	BKR	B	0.16%
	BBY	D	0.16%
	LHX	C	0.16%
	JCI	C	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%
	WM	A	0.15%
	CRM	B	0.15%
	GE	D	0.15%
	MMC	B	0.14%
	OKE	A	0.14%
	GLW	B	0.14%
	CL	D	0.13%
	APD	A	0.13%
	PH	A	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%
	CBRE	B	0.13%
	URI	B	0.13%
	ED	D	0.12%
	ETR	B	0.12%
	WDC	D	0.12%
	CARR	D	0.12%
	KKR	A	0.12%
	XEL	A	0.12%
	ORLY	B	0.11%
	PARA	C	0.11%
	PEG	A	0.11%
	PPL	B	0.11%
	BA	F	0.11%
	ICE	C	0.11%
	INTU	C	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%
	REGN	F	0.1%
	CEG	D	0.1%
	WELL	A	0.1%
	NRG	B	0.1%
	SPG	B	0.1%
	MRO	B	0.09%
	SW	A	0.09%
	ISRG	A	0.09%
	STX	D	0.09%
	FE	C	0.09%
	BIIB	F	0.09%
	EA	A	0.09%
	CTVA	C	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%
	HBAN	A	0.08%
	NTRS	A	0.08%
	NVR	D	0.08%
	USFD	A	0.08%
	CHRW	C	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%
	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%
	SHW	A	0.08%
	K	A	0.07%
	BAX	D	0.07%
	IQV	D	0.07%
	VFC	C	0.07%
	MSI	B	0.07%
	HWM	A	0.07%
	SWK	D	0.07%
	WTW	B	0.07%
	AEE	A	0.07%
	TRGP	B	0.07%
	THC	D	0.07%
	MCO	B	0.07%
	NTAP	C	0.07%
	EVRG	A	0.07%
	STZ	D	0.07%
	PWR	A	0.07%
	PLD	D	0.07%
	KDP	D	0.07%
	CINF	A	0.07%
	X	C	0.07%
	LAD	A	0.07%
	ZTS	D	0.07%
	PKG	A	0.07%
	ROST	C	0.07%
	DTE	C	0.07%
	LDOS	C	0.07%
	VRTX	F	0.07%
	FAST	B	0.07%
	SNA	A	0.06%
	HES	B	0.06%
	ODFL	B	0.06%
	MGM	D	0.06%
	DVA	B	0.06%
	TSCO	D	0.06%
	CPAY	A	0.06%
	ROK	B	0.06%
	BALL	D	0.06%
	CMS	C	0.06%
	AA	B	0.06%
	LNG	B	0.06%
	FLEX	A	0.06%
	IRM	D	0.06%
	PFGC	B	0.06%
	HLT	A	0.06%
	EME	C	0.06%
	CNP	B	0.06%
	TT	A	0.06%
	RSG	A	0.06%
	PAYX	C	0.06%
	WAB	B	0.06%
	DOV	A	0.06%
	TDG	D	0.06%
	KSS	F	0.06%
	KMX	B	0.06%
	MOH	F	0.05%
	ACM	A	0.05%
	VNO	B	0.05%
	NI	A	0.05%
	MNST	C	0.05%
	VMC	B	0.05%
	AFG	A	0.05%
	ZBH	C	0.05%
	JBHT	C	0.05%
	CSL	C	0.05%
	NXPI	D	0.05%
	MCHP	D	0.05%
	IFF	D	0.05%
	L	A	0.05%
	JNPR	F	0.05%
	AES	F	0.05%
	DRI	B	0.05%
	AJG	B	0.05%
	AN	C	0.05%
	BXP	D	0.05%
	GPC	D	0.05%
	OTIS	C	0.05%
	KD	B	0.05%
	AVB	B	0.05%
	EQR	B	0.05%
	CASY	A	0.05%
	ROP	B	0.05%
	MAS	D	0.05%
	J	F	0.05%
	AME	A	0.05%
	SFM	A	0.05%
	PSA	D	0.05%
	KVUE	A	0.05%
	A	D	0.05%
	O	D	0.04%
	FBIN	D	0.04%
	UBER	D	0.04%
	LPX	B	0.04%
	EXPE	B	0.04%
	TER	D	0.04%
	OSK	B	0.04%
	AVY	D	0.04%
	IPG	D	0.04%
	KEYS	A	0.04%
	ZIM	C	0.04%
	LVS	C	0.04%
	PNR	A	0.04%
	FYBR	D	0.04%
	RPM	A	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%
	EXPD	D	0.04%
	CCK	C	0.04%
	WAT	B	0.04%
	ZBRA	B	0.04%
	DKS	C	0.04%
	ATO	A	0.04%
	SWKS	F	0.04%
	HOLX	D	0.04%
	RHI	B	0.04%
	HSIC	B	0.04%
	CHD	B	0.04%
	AWK	D	0.04%
	EW	C	0.04%
	LNT	A	0.04%
	GEN	B	0.04%
	MUSA	A	0.04%
	LPLA	A	0.04%
	PNW	B	0.04%
	AYI	B	0.04%
	THO	B	0.04%
	WSM	B	0.04%
	VRSK	A	0.04%
	EVR	B	0.04%
	MLM	B	0.04%
	GEV	B	0.04%
	MRVL	B	0.04%
	UGI	A	0.04%
	CDW	F	0.04%
	DELL	C	0.03%
	EXP	A	0.03%
	SEE	C	0.03%
	LSTR	D	0.03%
	PRI	A	0.03%
	INVH	D	0.03%
	SCI	B	0.03%
	IEX	B	0.03%
	ACI	C	0.03%
	MRNA	F	0.03%
	TDY	B	0.03%
	CPRT	A	0.03%
	GNTX	C	0.03%
	AAP	C	0.03%
	TRU	D	0.03%
	SQ	B	0.03%
	ITT	A	0.03%
	RVTY	F	0.03%
	BURL	A	0.03%
	ILMN	D	0.03%
	CW	B	0.03%
	LII	A	0.03%
	G	B	0.03%
	GDDY	A	0.03%
	FLR	B	0.03%
	STE	F	0.03%
	PCG	A	0.03%
	ARE	D	0.03%
	ALB	C	0.03%
	SEIC	B	0.03%
	MSCI	C	0.03%
	KIM	A	0.03%
	VOYA	B	0.03%
	TTWO	A	0.03%
	MTD	D	0.03%
	AMCR	D	0.03%
	ARMK	B	0.03%
	CPB	D	0.03%
	AIZ	A	0.03%
	EFX	F	0.03%
	CAR	C	0.03%
	OGE	B	0.03%
	HAS	D	0.03%
	EXR	D	0.03%
	AKAM	D	0.03%
	RL	B	0.03%
	CACI	D	0.03%
	ESS	B	0.03%
	HRL	D	0.03%
	XYL	D	0.03%
	SNPS	B	0.03%
	NDAQ	A	0.03%
	WU	D	0.03%
	TRMB	B	0.03%
	CIEN	B	0.03%
	ULTA	F	0.03%
	GRMN	B	0.03%
	MAA	B	0.03%
	FFIV	B	0.03%
	HUN	F	0.03%
	EL	F	0.03%
	DOC	D	0.03%
	IT	C	0.03%
	DECK	A	0.03%
	PANW	C	0.03%
	DPZ	C	0.03%
	BAH	F	0.03%
	FTV	C	0.03%
	WSO	A	0.03%
	RMD	C	0.03%
	IR	B	0.03%
	CDNS	B	0.03%
	MTZ	B	0.03%
	WRB	A	0.03%
	ADSK	A	0.03%
	MKC	D	0.03%
	FTNT	C	0.03%
	HUBB	B	0.03%
	BR	A	0.03%
	WLK	D	0.02%
	MTN	C	0.02%
	ALV	C	0.02%
	FLO	D	0.02%
	MPW	F	0.02%
	CHKP	D	0.02%
	TFX	F	0.02%
	ARCH	B	0.02%
	MIDD	C	0.02%
	AER	B	0.02%
	NSIT	F	0.02%
	KBR	F	0.02%
	POR	C	0.02%
	MKSI	C	0.02%
	TTC	D	0.02%
	WPC	D	0.02%
	GLPI	C	0.02%
	LW	C	0.02%
	POST	C	0.02%
	NFG	A	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%
	STWD	C	0.02%
	PAG	B	0.02%
	EPAM	C	0.02%
	SLG	B	0.02%
	GGG	B	0.02%
	GXO	B	0.02%
	CTLT	B	0.02%
	IDXX	F	0.02%
	JKHY	D	0.02%
	CPT	B	0.02%
	POOL	C	0.02%
	ALGN	D	0.02%
	DCI	B	0.02%
	NVT	B	0.02%
	AVTR	F	0.02%
	AOS	F	0.02%
	BECN	B	0.02%
	SKX	D	0.02%
	SUI	D	0.02%
	LAMR	D	0.02%
	REG	B	0.02%
	PK	B	0.02%
	BRX	A	0.02%
	UDR	B	0.02%
	VICI	C	0.02%
	ABM	B	0.02%
	ATR	B	0.02%
	BJ	A	0.02%
	EHC	B	0.02%
	BRO	B	0.02%
	GNRC	B	0.02%
	COR	B	0.02%
	BAP	B	0.02%
	AXTA	A	0.02%
	LUV	C	0.02%
	SOLV	C	0.02%
	CRL	C	0.01%
	VRSN	F	0.01%
	ICLR	D	0.01%
	WTRG	B	0.01%
	MSM	C	0.01%
	CHE	D	0.01%
	MMS	F	0.01%
	CYH	F	0.01%
	BLD	D	0.01%
	CBOE	B	0.01%
	NOW	A	0.01%
	QRTEA	F	0.01%
	AAL	B	0.01%
	ALLE	D	0.01%
	FTI	A	0.01%
	JWN	C	0.01%
	DK	C	0.01%
	HTZ	C	0.01%
	CRI	D	0.01%
	CNX	A	0.01%
	CPRI	F	0.01%

FNDX Underweight 344 Positions Relative to VFVA

	Symbol	Grade	Weight
	ESNT	D	-0.45%
	RPRX	D	-0.41%
	COLB	A	-0.34%
	CIVI	D	-0.33%
	FOX	A	-0.33%
	GTES	A	-0.3%
	UAL	A	-0.29%
	RDN	C	-0.28%
	PRDO	B	-0.28%
	STBA	B	-0.26%
	ATKR	C	-0.26%
	AXS	A	-0.26%
	TTMI	B	-0.25%
	INSW	F	-0.24%
	HRI	B	-0.22%
	WBS	A	-0.22%
	BHF	B	-0.22%
	WAFD	B	-0.21%
	PTEN	C	-0.21%
	TEX	D	-0.21%
	ONB	B	-0.21%
	AMR	C	-0.2%
	ZI	D	-0.2%
	TROX	D	-0.2%
	GPOR	B	-0.2%
	RNR	C	-0.2%
	SIRI	C	-0.2%
	FFBC	A	-0.2%
	KOS	F	-0.19%
	PUMP	B	-0.19%
	MHO	D	-0.19%
	HCC	B	-0.19%
	PCRX	C	-0.19%
	BMBL	C	-0.19%
	FNB	A	-0.19%
	HWC	B	-0.19%
	STNG	F	-0.19%
	MTDR	B	-0.18%
	CHRD	D	-0.18%
	TNK	F	-0.18%
	HAIN	C	-0.18%
	CCS	D	-0.18%
	AHCO	F	-0.18%
	HELE	C	-0.18%
	WAL	B	-0.18%
	BYD	C	-0.18%
	CCSI	C	-0.18%
	PR	B	-0.17%
	ATSG	B	-0.17%
	EFSC	B	-0.17%
	MD	B	-0.17%
	GIII	D	-0.17%
	DTM	B	-0.17%
	GTN	F	-0.17%
	IMKTA	C	-0.17%
	RNG	B	-0.17%
	ZD	C	-0.17%
	SLVM	B	-0.16%
	PARR	D	-0.16%
	AXL	C	-0.16%
	ASIX	A	-0.16%
	GNK	D	-0.16%
	SEB	F	-0.16%
	COMM	D	-0.16%
	OCFC	B	-0.16%
	KOP	C	-0.16%
	OMI	F	-0.16%
	ABCB	B	-0.16%
	BXC	B	-0.16%
	CADE	B	-0.16%
	GBX	A	-0.16%
	SBH	C	-0.16%
	CRGY	B	-0.16%
	NMRK	B	-0.16%
	CRC	B	-0.15%
	DIN	C	-0.15%
	GLNG	C	-0.15%
	MBUU	C	-0.15%
	SNDR	B	-0.15%
	WWW	B	-0.15%
	BKU	A	-0.15%
	NUS	D	-0.15%
	UTHR	C	-0.15%
	MCB	B	-0.15%
	TWI	F	-0.15%
	CEIX	A	-0.14%
	ELAN	D	-0.14%
	SF	B	-0.14%
	IRWD	F	-0.14%
	TPC	C	-0.14%
	ECVT	C	-0.14%
	SNCY	C	-0.14%
	RMAX	C	-0.14%
	LZB	B	-0.14%
	PLTK	B	-0.14%
	ASC	F	-0.14%
	BRY	F	-0.14%
	ALIT	C	-0.14%
	DLX	B	-0.14%
	TDOC	C	-0.13%
	COOP	B	-0.13%
	LPG	F	-0.13%
	BGS	F	-0.13%
	ASB	B	-0.13%
	BELFB	C	-0.13%
	JELD	F	-0.13%
	VBTX	B	-0.13%
	GOGL	F	-0.13%
	GDOT	D	-0.12%
	NAT	F	-0.12%
	ENS	D	-0.12%
	HLX	B	-0.12%
	DCOM	A	-0.12%
	OZK	B	-0.12%
	FCF	A	-0.12%
	RPAY	D	-0.12%
	CMRE	C	-0.12%
	PLAB	C	-0.12%
	DOLE	D	-0.12%
	RYI	C	-0.12%
	DHT	F	-0.12%
	BANC	A	-0.12%
	APPS	F	-0.12%
	SXC	A	-0.12%
	STNE	F	-0.11%
	BUSE	B	-0.11%
	SKYW	B	-0.11%
	CLW	F	-0.11%
	EYE	C	-0.11%
	SASR	B	-0.11%
	PEBO	A	-0.11%
	MTCH	D	-0.11%
	FDP	B	-0.11%
	PPBI	B	-0.11%
	MATV	D	-0.11%
	MTUS	C	-0.11%
	PNFP	B	-0.11%
	IART	C	-0.11%
	FIVE	F	-0.11%
	SCSC	B	-0.11%
	OMCL	C	-0.11%
	ATGE	B	-0.11%
	JRVR	F	-0.11%
	HOPE	B	-0.1%
	BV	B	-0.1%
	TK	D	-0.1%
	CSTM	F	-0.1%
	FULT	A	-0.1%
	STC	B	-0.1%
	SD	D	-0.1%
	RRC	B	-0.1%
	RNST	B	-0.1%
	PHIN	A	-0.1%
	CUBI	C	-0.1%
	EGBN	B	-0.1%
	EGY	D	-0.1%
	CHGG	D	-0.1%
	NX	C	-0.09%
	MAT	D	-0.09%
	SMP	B	-0.09%
	VLY	B	-0.09%
	GPRE	F	-0.09%
	BANR	B	-0.09%
	GCO	B	-0.09%
	PATK	D	-0.09%
	FOXF	F	-0.09%
	AUB	B	-0.09%
	SATS	D	-0.09%
	DNB	B	-0.09%
	UVE	B	-0.09%
	VTOL	B	-0.09%
	CATY	B	-0.09%
	BZH	B	-0.09%
	NVST	B	-0.09%
	DNOW	B	-0.09%
	MODG	F	-0.09%
	SCHL	D	-0.09%
	HVT	D	-0.09%
	NTB	B	-0.09%
	WSBC	A	-0.08%
	HEES	B	-0.08%
	SSB	B	-0.08%
	BHLB	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%
	BOKF	B	-0.08%
	ARCB	C	-0.08%
	EAT	A	-0.08%
	SRCE	B	-0.08%
	NBTB	B	-0.08%
	SB	F	-0.08%
	PBI	B	-0.07%
	WYNN	D	-0.07%
	OEC	C	-0.07%
	UPBD	B	-0.07%
	KFY	B	-0.07%
	SNEX	B	-0.07%
	PAGS	F	-0.07%
	INDB	B	-0.07%
	MTW	C	-0.07%
	HLF	C	-0.07%
	CXW	B	-0.07%
	AMKR	D	-0.07%
	TRST	A	-0.07%
	TRMK	B	-0.07%
	DXPE	B	-0.07%
	URBN	C	-0.07%
	AX	A	-0.07%
	CCRN	F	-0.07%
	HAFC	A	-0.07%
	FIBK	A	-0.07%
	NIC	B	-0.07%
	VREX	C	-0.07%
	CNA	B	-0.07%
	NOG	A	-0.07%
	ZEUS	C	-0.07%
	HI	C	-0.07%
	EBC	B	-0.07%
	REVG	B	-0.07%
	EMBC	C	-0.07%
	NMIH	D	-0.07%
	MLKN	D	-0.07%
	BBW	B	-0.07%
	LBRDA	C	-0.06%
	ALGT	B	-0.06%
	LXU	B	-0.06%
	PFS	B	-0.06%
	CROX	D	-0.06%
	FWRD	D	-0.06%
	UIS	B	-0.06%
	AMWD	C	-0.06%
	NNI	D	-0.06%
	DENN	D	-0.06%
	CAL	D	-0.06%
	OIS	C	-0.06%
	TCBK	B	-0.06%
	BUR	C	-0.06%
	SSP	F	-0.06%
	KELYA	F	-0.06%
	REPX	A	-0.06%
	VSCO	B	-0.06%
	ENVA	B	-0.05%
	PRLB	A	-0.05%
	BW	D	-0.05%
	GRBK	D	-0.05%
	GATX	A	-0.05%
	HFWA	B	-0.05%
	REX	D	-0.05%
	OFG	B	-0.05%
	LILA	D	-0.05%
	GEF	A	-0.05%
	FRME	B	-0.05%
	RGP	F	-0.05%
	CNOB	B	-0.05%
	NWBI	B	-0.05%
	TTEC	F	-0.05%
	PFSI	D	-0.05%
	GHC	C	-0.05%
	LBRT	D	-0.05%
	MATW	C	-0.05%
	TOWN	B	-0.05%
	TWLO	A	-0.05%
	HZO	D	-0.04%
	MRC	B	-0.04%
	GLDD	B	-0.04%
	VRNT	C	-0.04%
	WTTR	B	-0.04%
	HNRG	B	-0.04%
	WNC	C	-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%
	MOV	C	-0.04%
	BLMN	F	-0.04%
	UA	C	-0.04%
	RDUS	C	-0.04%
	TALO	C	-0.04%
	BY	B	-0.04%
	CFFN	B	-0.04%
	KALU	C	-0.04%
	GEO	B	-0.04%
	HOV	D	-0.03%
	IGT	F	-0.03%
	ACT	D	-0.03%
	NBHC	B	-0.03%
	ESI	A	-0.03%
	SCVL	F	-0.03%
	HY	D	-0.03%
	MBIN	D	-0.03%
	CMCO	B	-0.03%
	LC	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%
	SHLS	F	-0.03%
	USAP	B	-0.03%
	OLPX	D	-0.03%
	PTVE	B	-0.03%
	ZIMV	D	-0.03%
	WMK	C	-0.03%
	FOR	F	-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%
	HGV	B	-0.02%
	KODK	B	-0.02%
	TITN	C	-0.02%
	HDSN	F	-0.02%
	UCB	A	-0.02%
	ALKS	B	-0.02%
	PINC	B	-0.02%
	BAND	B	-0.02%
	BHE	B	-0.02%
	TTI	C	-0.02%
	EIG	B	-0.02%
	GO	C	-0.02%
	VYX	B	-0.02%
	AMRX	C	-0.02%
	PFBC	B	-0.02%
	HOMB	A	-0.02%
	BRKL	B	-0.02%
	EPC	D	-0.02%
	WRLD	C	-0.02%
	MEI	D	-0.02%
	PRA	C	-0.02%
	OBK	B	-0.02%

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

VFVA: Top Represented Industries & Keywords

Industries: Banks - Regional - US Oil & Gas E&P Insurance - Property & Casualty Shipping & Ports Asset Management Credit Services Residential Construction Oil & Gas Equipment & Services Auto Parts Software - Application Specialty Retail Chemicals Insurance - Life Apparel Stores Business Services Information Technology Services Specialty Chemicals Steel Diversified Industrials Drug Manufacturers - Specialty & Generic

Keywords: S&P 500 Bank Banking Insurance Deposit Products Natural Gas Commercial Banking Real Estate Loans Chemical Commercial Bank Insurance Products Mining Transport Investment Management Loan Petroleum Industry Life Insurance Computing Nasdaq 100 Retail Store