GVUS vs. VCEB ETF Comparison

Comparison of Goldman Sachs MarketBeta Russell 1000 Value Equity ETF (GVUS) to Vanguard ESG U.S. Corporate Bond ETF (VCEB)

GVUS

Goldman Sachs MarketBeta Russell 1000 Value Equity ETF

GVUS Description

The fund seeks to achieve its investment objective by investing at least 80% of its assets in equity securities included in its underlying index, in depositary receipts representing equity securities included in its underlying index, and in underlying stocks in lieu of depositary receipts included in its underlying index. The index is designed to measure the performance of the large- and mid-capitalization value segment of U.S. equity issuers, with a capping methodology.

Grade (RS Rating)

Last Trade

$50.87

Average Daily Volume

35,490

Number of Holdings ^*

836

* may have additional holdings in another (foreign) market

VCEB

Vanguard ESG U.S. Corporate Bond ETF

VCEB Description

The investment seeks to track the performance of the Bloomberg Barclays MSCI US Corporate SRI Select Index (the ?index?). The index excludes bonds with maturities of 1 year or less and with less than $750 million outstanding, and is screened for certain environmental, social, and governance (ESG) criteria by the index provider, which is independent of Vanguard. All of the fund?s investments will be selected through the sampling process, and under normal circumstances, at least 80% of the fund?s assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$62.73

Average Daily Volume

37,148

Number of Holdings ^*

245

* may have additional holdings in another (foreign) market

Performance

Period	GVUS	VCEB
30 Days	2.39%	-0.25%
60 Days	4.06%	-2.76%
90 Days	5.58%	-1.73%
12 Months		7.45%

207 Overlapping Holdings

	Symbol	Grade	Weight in GVUS	Weight in VCEB	Overlap
	A	D	0.14%	0.02%	0.02%
	ABBV	D	0.65%	0.03%	0.03%
	ABT	B	0.78%	0.03%	0.03%
	ACGL	D	0.14%	0.03%	0.03%
	ADI	D	0.4%	0.01%	0.01%
	ADM	D	0.1%	0.02%	0.02%
	ADP	B	0.04%	0.03%	0.03%
	AFL	B	0.24%	0.05%	0.05%
	AIG	B	0.19%	0.01%	0.01%
	AJG	B	0.23%	0.02%	0.02%
	AL	B	0.02%	0.01%	0.01%
	ALLY	C	0.03%	0.03%	0.03%
	AMAT	F	0.04%	0.01%	0.01%
	AMGN	D	0.13%	0.01%	0.01%
	AMP	A	0.02%	0.03%	0.02%
	AON	A	0.29%	0.01%	0.01%
	APD	A	0.27%	0.02%	0.02%
	APH	A	0.14%	0.02%	0.02%
	ARE	D	0.07%	0.01%	0.01%
	AWK	D	0.1%	0.02%	0.02%
	AXP	A	0.39%	0.01%	0.01%
	AZO	C	0.02%	0.04%	0.02%
	BAC	A	1.23%	0.02%	0.02%
	BAX	D	0.06%	0.02%	0.02%
	BDX	F	0.25%	0.03%	0.03%
	BEN	C	0.02%	0.02%	0.02%
	BERY	B	0.03%	0.01%	0.01%
	BG	F	0.05%	0.03%	0.03%
	BHF	B	0.01%	0.03%	0.01%
	BIIB	F	0.09%	0.01%	0.01%
	BK	A	0.22%	0.01%	0.01%
	BKNG	A	0.04%	0.02%	0.02%
	BLK	C	0.6%	0.02%	0.02%
	BMY	B	0.44%	0.03%	0.03%
	BR	A	0.01%	0.02%	0.01%
	BRX	A	0.03%	0.01%	0.01%
	BSX	B	0.5%	0.01%	0.01%
	BWA	D	0.03%	0.03%	0.03%
	BXP	D	0.05%	0.01%	0.01%
	C	A	0.51%	0.01%	0.01%
	CAG	D	0.05%	0.01%	0.01%
	CAH	B	0.05%	0.02%	0.02%
	CARR	D	0.24%	0.02%	0.02%
	CAT	B	0.63%	0.01%	0.01%
	CB	C	0.45%	0.01%	0.01%
	CCI	D	0.18%	0.01%	0.01%
	CF	B	0.06%	0.02%	0.02%
	CFG	B	0.08%	0.03%	0.03%
	CHTR	C	0.14%	0.02%	0.02%
	CI	F	0.32%	0.01%	0.01%
	CMA	A	0.04%	0.03%	0.03%
	CMCSA	B	0.64%	0.01%	0.01%
	CME	A	0.32%	0.02%	0.02%
	CMI	A	0.19%	0.02%	0.02%
	COF	B	0.27%	0.01%	0.01%
	CPB	D	0.03%	0.02%	0.02%
	CPT	B	0.05%	0.04%	0.04%
	CRM	B	0.18%	0.02%	0.02%
	CSCO	B	0.91%	0.02%	0.02%
	CSL	C	0.07%	0.02%	0.02%
	CTAS	B	0.01%	0.04%	0.01%
	CVS	D	0.26%	0.01%	0.01%
	DD	D	0.13%	0.06%	0.06%
	DE	A	0.39%	0.02%	0.02%
	DELL	C	0.12%	0.01%	0.01%
	DFS	B	0.17%	0.01%	0.01%
	DG	F	0.06%	0.03%	0.03%
	DGX	A	0.07%	0.03%	0.03%
	DHR	F	0.58%	0.01%	0.01%
	DIS	B	0.82%	0.01%	0.01%
	DLR	B	0.23%	0.01%	0.01%
	DLTR	F	0.05%	0.02%	0.02%
	DOC	D	0.06%	0.03%	0.03%
	DOW	F	0.12%	0.01%	0.01%
	EA	A	0.17%	0.01%	0.01%
	EBAY	D	0.12%	0.01%	0.01%
	EFX	F	0.09%	0.02%	0.02%
	EG	C	0.05%	0.03%	0.03%
	EMN	D	0.05%	0.02%	0.02%
	EQIX	A	0.31%	0.03%	0.03%
	EQR	B	0.11%	0.03%	0.03%
	ETN	A	0.56%	0.03%	0.03%
	EXP	A	0.01%	0.01%	0.01%
	FDX	B	0.26%	0.01%	0.01%
	FIS	C	0.19%	0.01%	0.01%
	FITB	A	0.12%	0.02%	0.02%
	FOXA	B	0.04%	0.01%	0.01%
	FTV	C	0.1%	0.03%	0.03%
	GILD	C	0.43%	0.01%	0.01%
	GIS	D	0.14%	0.03%	0.03%
	GLPI	C	0.05%	0.01%	0.01%
	GLW	B	0.14%	0.02%	0.02%
	GM	B	0.25%	0.01%	0.01%
	GPN	B	0.11%	0.01%	0.01%
	GS	A	0.53%	0.01%	0.01%
	GWW	B	0.03%	0.04%	0.03%
	HAS	D	0.0%	0.03%	0.0%
	HBAN	A	0.1%	0.02%	0.02%
	HCA	F	0.19%	0.02%	0.02%
	HD	A	0.32%	0.01%	0.01%
	HIG	B	0.13%	0.02%	0.02%
	HPE	B	0.11%	0.01%	0.01%
	HPQ	B	0.11%	0.01%	0.01%
	HRL	D	0.03%	0.02%	0.02%
	HST	C	0.05%	0.02%	0.02%
	HUM	C	0.13%	0.01%	0.01%
	HUN	F	0.01%	0.02%	0.01%
	IBM	C	0.73%	0.02%	0.02%
	ICE	C	0.34%	0.01%	0.01%
	IFF	D	0.09%	0.03%	0.03%
	INTC	D	0.4%	0.01%	0.01%
	ITW	B	0.19%	0.03%	0.03%
	JNJ	D	1.44%	0.01%	0.01%
	JPM	A	2.73%	0.01%	0.01%
	K	A	0.08%	0.03%	0.03%
	KDP	D	0.14%	0.01%	0.01%
	KEY	B	0.07%	0.01%	0.01%
	KMB	D	0.1%	0.04%	0.04%
	KO	D	0.4%	0.01%	0.01%
	LEA	D	0.02%	0.02%	0.02%
	LEN	D	0.01%	0.04%	0.01%
	LEN	D	0.16%	0.04%	0.04%
	LH	C	0.08%	0.03%	0.03%
	LOW	D	0.6%	0.01%	0.01%
	LUV	C	0.08%	0.01%	0.01%
	MAR	B	0.25%	0.01%	0.01%
	MCD	D	0.77%	0.01%	0.01%
	MCHP	D	0.13%	0.04%	0.04%
	MCK	B	0.17%	0.02%	0.02%
	MDLZ	F	0.34%	0.01%	0.01%
	MDT	D	0.44%	0.05%	0.05%
	MET	A	0.19%	0.01%	0.01%
	MKC	D	0.07%	0.02%	0.02%
	MLM	B	0.13%	0.02%	0.02%
	MMC	B	0.37%	0.04%	0.04%
	MMM	D	0.23%	0.01%	0.01%
	MOS	F	0.03%	0.06%	0.03%
	MRVL	B	0.27%	0.01%	0.01%
	MS	A	0.57%	0.01%	0.01%
	MSI	B	0.16%	0.01%	0.01%
	MTB	A	0.14%	0.07%	0.07%
	MU	D	0.41%	0.03%	0.03%
	NEM	D	0.18%	0.02%	0.02%
	NKE	D	0.14%	0.01%	0.01%
	NTAP	C	0.05%	0.02%	0.02%
	NTRS	A	0.08%	0.03%	0.03%
	NVR	D	0.1%	0.03%	0.03%
	O	D	0.19%	0.02%	0.02%
	OMC	C	0.07%	0.02%	0.02%
	ORLY	B	0.02%	0.03%	0.02%
	OTIS	C	0.16%	0.04%	0.04%
	PEP	F	0.18%	0.01%	0.01%
	PFE	D	0.55%	0.01%	0.01%
	PG	A	1.21%	0.01%	0.01%
	PGR	A	0.09%	0.05%	0.05%
	PH	A	0.35%	0.01%	0.01%
	PLD	D	0.41%	0.01%	0.01%
	PNC	B	0.32%	0.01%	0.01%
	PPG	F	0.11%	0.03%	0.03%
	PRU	A	0.18%	0.01%	0.01%
	PWR	A	0.13%	0.03%	0.03%
	PYPL	B	0.34%	0.01%	0.01%
	QCOM	F	0.04%	0.01%	0.01%
	QRVO	F	0.02%	0.02%	0.02%
	REGN	F	0.28%	0.02%	0.02%
	RF	A	0.09%	0.03%	0.03%
	RJF	A	0.12%	0.02%	0.02%
	RL	B	0.03%	0.02%	0.02%
	ROP	B	0.23%	0.03%	0.03%
	RPRX	D	0.04%	0.01%	0.01%
	RSG	A	0.17%	0.01%	0.01%
	SBUX	A	0.1%	0.02%	0.02%
	SCHW	B	0.42%	0.01%	0.01%
	SHW	A	0.03%	0.02%	0.02%
	SJM	D	0.04%	0.03%	0.03%
	SPG	B	0.17%	0.01%	0.01%
	STT	A	0.11%	0.01%	0.01%
	SWK	D	0.05%	0.02%	0.02%
	SYF	B	0.1%	0.03%	0.03%
	SYK	C	0.39%	0.01%	0.01%
	SYY	B	0.06%	0.01%	0.01%
	T	A	0.63%	0.01%	0.01%
	TFC	A	0.24%	0.01%	0.01%
	TGT	F	0.27%	0.01%	0.01%
	TJX	A	0.22%	0.07%	0.07%
	TMO	F	0.76%	0.01%	0.01%
	TMUS	B	0.44%	0.01%	0.01%
	TRV	B	0.23%	0.02%	0.02%
	TSN	B	0.07%	0.01%	0.01%
	TT	A	0.24%	0.02%	0.02%
	TXN	C	0.63%	0.01%	0.01%
	UHS	D	0.05%	0.02%	0.02%
	UNH	C	1.98%	0.01%	0.01%
	UPS	C	0.38%	0.01%	0.01%
	USB	A	0.3%	0.01%	0.01%
	VFC	C	0.03%	0.02%	0.02%
	VMC	B	0.11%	0.02%	0.02%
	VRSN	F	0.06%	0.03%	0.03%
	VTR	C	0.1%	0.02%	0.02%
	VTRS	A	0.06%	0.01%	0.01%
	VZ	C	0.68%	0.02%	0.02%
	WAB	B	0.13%	0.03%	0.03%
	WBA	F	0.02%	0.02%	0.02%
	WELL	A	0.32%	0.01%	0.01%
	XRAY	F	0.01%	0.02%	0.01%
	ZBH	C	0.09%	0.03%	0.03%
	ZTS	D	0.05%	0.01%	0.01%

GVUS Overweight 629 Positions Relative to VCEB

	Symbol	Grade	Weight
	BRK.A	B	3.35%
	XOM	B	2.08%
	WMT	A	1.42%
	CVX	A	1.08%
	WFC	A	1.01%
	ACN	C	0.86%
	LIN	D	0.84%
	PM	B	0.78%
	NEE	D	0.61%
	SPGI	C	0.61%
	RTX	C	0.61%
	GE	D	0.59%
	COP	C	0.51%
	HON	B	0.49%
	MO	A	0.37%
	SO	D	0.37%
	GEV	B	0.35%
	DUK	C	0.34%
	FI	A	0.32%
	GD	F	0.31%
	ELV	F	0.31%
	BA	F	0.31%
	EOG	A	0.3%
	LMT	D	0.3%
	AMD	F	0.29%
	UNP	C	0.29%
	KKR	A	0.28%
	EMR	A	0.28%
	CSX	B	0.27%
	WMB	A	0.27%
	NOC	D	0.26%
	OKE	A	0.25%
	FCX	D	0.24%
	SLB	C	0.24%
	SRE	A	0.23%
	NSC	B	0.23%
	CEG	D	0.23%
	VRTX	F	0.23%
	MPC	D	0.22%
	JCI	C	0.22%
	PCAR	B	0.22%
	KMI	A	0.21%
	TDG	D	0.21%
	PSX	C	0.21%
	AEP	D	0.2%
	DHI	D	0.19%
	D	C	0.19%
	MSTR	C	0.19%
	PCG	A	0.18%
	KVUE	A	0.18%
	LHX	C	0.18%
	HWM	A	0.17%
	BKR	B	0.17%
	F	C	0.17%
	URI	B	0.17%
	ALL	A	0.17%
	PEG	A	0.17%
	PSA	D	0.17%
	AME	A	0.17%
	VLO	C	0.17%
	CBRE	B	0.16%
	DAL	C	0.16%
	IR	B	0.16%
	STZ	D	0.15%
	CTSH	B	0.15%
	KR	B	0.15%
	CTVA	C	0.15%
	XEL	A	0.15%
	EXC	C	0.15%
	NUE	C	0.14%
	ROST	C	0.14%
	RCL	A	0.14%
	NDAQ	A	0.13%
	AVB	B	0.13%
	GEHC	F	0.13%
	EW	C	0.13%
	VICI	C	0.13%
	FANG	D	0.13%
	OXY	D	0.13%
	ED	D	0.13%
	CL	D	0.13%
	EXR	D	0.13%
	HLT	A	0.12%
	ROK	B	0.12%
	TTWO	A	0.12%
	UAL	A	0.12%
	CNC	D	0.12%
	IQV	D	0.12%
	WEC	A	0.12%
	ETR	B	0.12%
	GRMN	B	0.12%
	EIX	B	0.12%
	WTW	B	0.12%
	SQ	B	0.11%
	DOV	A	0.11%
	KHC	F	0.11%
	ON	D	0.11%
	CSGP	D	0.11%
	ANSS	B	0.11%
	XYL	D	0.11%
	PAYX	C	0.11%
	RMD	C	0.1%
	DTE	C	0.1%
	MTD	D	0.1%
	PPL	B	0.1%
	KEYS	A	0.1%
	TROW	B	0.1%
	HAL	C	0.1%
	PHM	D	0.1%
	CHD	B	0.1%
	SW	A	0.1%
	FCNCA	A	0.1%
	WBD	C	0.09%
	WY	D	0.09%
	YUM	B	0.09%
	CINF	A	0.09%
	HUBB	B	0.09%
	EQT	B	0.09%
	SBAC	D	0.09%
	FE	C	0.09%
	LNG	B	0.09%
	DVN	F	0.09%
	CCL	B	0.09%
	AEE	A	0.09%
	MSCI	C	0.08%
	ESS	B	0.08%
	CNP	B	0.08%
	PFG	D	0.08%
	BBY	D	0.08%
	IP	B	0.08%
	CMS	C	0.08%
	FSLR	F	0.08%
	WDC	D	0.08%
	INVH	D	0.08%
	STLD	B	0.08%
	PKG	A	0.08%
	CBOE	B	0.08%
	ZM	B	0.08%
	HSY	F	0.08%
	HOOD	B	0.08%
	APO	B	0.08%
	LYB	F	0.08%
	ILMN	D	0.08%
	TDY	B	0.08%
	LDOS	C	0.08%
	STE	F	0.08%
	ES	D	0.08%
	ATO	A	0.08%
	OC	A	0.07%
	RBA	A	0.07%
	GPC	D	0.07%
	TRMB	B	0.07%
	MAS	D	0.07%
	IEX	B	0.07%
	J	F	0.07%
	PNR	A	0.07%
	TRU	D	0.07%
	WRB	A	0.07%
	RS	B	0.07%
	WSO	A	0.07%
	HOLX	D	0.07%
	MAA	B	0.07%
	SNA	A	0.07%
	BALL	D	0.07%
	IBKR	A	0.07%
	CTRA	B	0.07%
	BLDR	D	0.07%
	EVRG	A	0.06%
	EXPD	D	0.06%
	EWBC	A	0.06%
	IRM	D	0.06%
	HES	B	0.06%
	APTV	D	0.06%
	NDSN	B	0.06%
	ACM	A	0.06%
	UDR	B	0.06%
	JBHT	C	0.06%
	AMCR	D	0.06%
	THC	D	0.06%
	USFD	A	0.06%
	BRO	B	0.06%
	MKL	A	0.06%
	GGG	B	0.06%
	L	A	0.06%
	RGA	A	0.06%
	ZBRA	B	0.06%
	SUI	D	0.06%
	LNT	A	0.06%
	SSNC	B	0.06%
	FNF	B	0.06%
	TXT	D	0.06%
	TOL	B	0.06%
	UTHR	C	0.06%
	MRO	B	0.06%
	GEN	B	0.06%
	KIM	A	0.06%
	NI	A	0.06%
	CVNA	B	0.06%
	Z	A	0.05%
	JNPR	F	0.05%
	OVV	B	0.05%
	SOFI	A	0.05%
	CDW	F	0.05%
	FDS	B	0.05%
	MRNA	F	0.05%
	BMRN	D	0.05%
	SCI	B	0.05%
	NVT	B	0.05%
	NTNX	A	0.05%
	FTI	A	0.05%
	ALB	C	0.05%
	ALLE	D	0.05%
	WPC	D	0.05%
	EPAM	C	0.05%
	CLH	B	0.05%
	ITT	A	0.05%
	JKHY	D	0.05%
	CASY	A	0.05%
	CHRW	C	0.05%
	AMH	D	0.05%
	AFRM	B	0.05%
	COHR	B	0.05%
	JBL	B	0.05%
	TPR	B	0.05%
	AKAM	D	0.05%
	ELS	C	0.05%
	RPM	A	0.05%
	SWKS	F	0.05%
	RVTY	F	0.05%
	UNM	A	0.05%
	TWLO	A	0.05%
	RNR	C	0.05%
	REG	B	0.05%
	CW	B	0.05%
	FFIV	B	0.05%
	EME	C	0.05%
	VLTO	D	0.05%
	AVTR	F	0.05%
	TFX	F	0.04%
	TW	A	0.04%
	WCC	B	0.04%
	GMED	A	0.04%
	QGEN	D	0.04%
	REXR	F	0.04%
	DCI	B	0.04%
	BWXT	B	0.04%
	FBIN	D	0.04%
	RGLD	C	0.04%
	FRT	B	0.04%
	SOLV	C	0.04%
	INGR	B	0.04%
	BRBR	A	0.04%
	DRI	B	0.04%
	EL	F	0.04%
	PNFP	B	0.04%
	ORI	A	0.04%
	AYI	B	0.04%
	CNH	C	0.04%
	JEF	A	0.04%
	GL	B	0.04%
	CIEN	B	0.04%
	DOX	D	0.04%
	MKTX	D	0.04%
	WAL	B	0.04%
	WTRG	B	0.04%
	COIN	C	0.04%
	DPZ	C	0.04%
	CRL	C	0.04%
	EHC	B	0.04%
	DTM	B	0.04%
	AVY	D	0.04%
	DAY	B	0.04%
	OHI	C	0.04%
	AES	F	0.04%
	GME	C	0.04%
	ARMK	B	0.04%
	LAD	A	0.04%
	AFG	A	0.04%
	BLD	D	0.04%
	WWD	B	0.04%
	LKQ	D	0.04%
	IPG	D	0.04%
	WBS	A	0.04%
	PNW	B	0.04%
	DKS	C	0.04%
	ALSN	B	0.04%
	PRI	A	0.04%
	CACI	D	0.04%
	TECH	D	0.04%
	CCK	C	0.04%
	CTLT	B	0.04%
	EVR	B	0.04%
	CUBE	D	0.04%
	PFGC	B	0.04%
	NWSA	B	0.04%
	FTNT	C	0.04%
	TAP	C	0.04%
	AA	B	0.04%
	CG	A	0.04%
	ATR	B	0.04%
	FHN	A	0.04%
	RRX	B	0.04%
	NRG	B	0.04%
	INCY	C	0.04%
	SF	B	0.04%
	KMX	B	0.04%
	AIZ	A	0.04%
	BJ	A	0.04%
	COLB	A	0.03%
	CGNX	C	0.03%
	IVZ	B	0.03%
	FAF	A	0.03%
	KBR	F	0.03%
	LSTR	D	0.03%
	BILL	A	0.03%
	ALGN	D	0.03%
	STAG	F	0.03%
	AGNC	D	0.03%
	MKSI	C	0.03%
	MTG	C	0.03%
	HRB	D	0.03%
	VMI	B	0.03%
	ALK	C	0.03%
	AXS	A	0.03%
	WEX	D	0.03%
	WSM	B	0.03%
	RLI	B	0.03%
	DAR	C	0.03%
	DINO	D	0.03%
	FMC	D	0.03%
	FND	C	0.03%
	MTSI	B	0.03%
	FCN	D	0.03%
	ELAN	D	0.03%
	GXO	B	0.03%
	SSD	D	0.03%
	ATI	D	0.03%
	FR	C	0.03%
	GNTX	C	0.03%
	COKE	C	0.03%
	ESAB	B	0.03%
	WH	B	0.03%
	VNO	B	0.03%
	BBWI	D	0.03%
	R	B	0.03%
	OSK	B	0.03%
	MIDD	C	0.03%
	PR	B	0.03%
	FAST	B	0.03%
	LBRDK	C	0.03%
	LW	C	0.03%
	PB	A	0.03%
	ROKU	D	0.03%
	JAZZ	B	0.03%
	MNST	C	0.03%
	KEX	C	0.03%
	DASH	A	0.03%
	MHK	D	0.03%
	SKX	D	0.03%
	RHI	B	0.03%
	CHE	D	0.03%
	ADC	B	0.03%
	HII	D	0.03%
	NNN	D	0.03%
	G	B	0.03%
	CRBG	B	0.03%
	FLS	B	0.03%
	RIVN	F	0.03%
	CHRD	D	0.03%
	MTCH	D	0.03%
	RRC	B	0.03%
	ACI	C	0.03%
	CZR	F	0.03%
	X	C	0.03%
	APG	B	0.03%
	WTFC	A	0.03%
	APA	D	0.03%
	TKO	B	0.03%
	SEIC	B	0.03%
	ECL	D	0.03%
	SNV	B	0.03%
	CFR	B	0.03%
	FICO	B	0.03%
	LAMR	D	0.03%
	HLI	B	0.03%
	WAT	B	0.03%
	LECO	B	0.03%
	EGP	F	0.03%
	VOYA	B	0.03%
	NYT	C	0.03%
	TTC	D	0.03%
	CR	A	0.03%
	MTZ	B	0.03%
	CBSH	A	0.03%
	JLL	D	0.03%
	OGE	B	0.03%
	FYBR	D	0.03%
	GWRE	A	0.03%
	GPK	C	0.03%
	WYNN	D	0.03%
	ZION	B	0.03%
	TTEK	F	0.03%
	AOS	F	0.03%
	MGM	D	0.03%
	SNX	C	0.03%
	KNX	B	0.03%
	AAL	B	0.03%
	HSIC	B	0.03%
	PTC	A	0.03%
	AR	B	0.03%
	RBC	A	0.03%
	WST	C	0.03%
	AXTA	A	0.03%
	OGN	D	0.02%
	NWL	B	0.02%
	SITE	D	0.02%
	WTM	A	0.02%
	HOG	D	0.02%
	FLO	D	0.02%
	TPG	A	0.02%
	PAYC	B	0.02%
	DLB	B	0.02%
	AN	C	0.02%
	M	D	0.02%
	GTES	A	0.02%
	WLK	D	0.02%
	KMPR	B	0.02%
	GAP	C	0.02%
	AWI	A	0.02%
	EEFT	B	0.02%
	RYN	D	0.02%
	SLGN	A	0.02%
	PSN	D	0.02%
	WSC	D	0.02%
	KRC	C	0.02%
	CUZ	B	0.02%
	DBX	B	0.02%
	ST	F	0.02%
	CROX	D	0.02%
	ROIV	C	0.02%
	AVT	C	0.02%
	FRPT	B	0.02%
	AGO	B	0.02%
	SON	D	0.02%
	HXL	D	0.02%
	SEE	C	0.02%
	OLN	D	0.02%
	BYD	C	0.02%
	TKR	D	0.02%
	UGI	A	0.02%
	BFAM	D	0.02%
	OZK	B	0.02%
	POST	C	0.02%
	GNRC	B	0.02%
	BC	C	0.02%
	SLM	A	0.02%
	LFUS	F	0.02%
	SN	D	0.02%
	WMS	D	0.02%
	LITE	B	0.02%
	CRUS	D	0.02%
	EXAS	D	0.02%
	RGEN	D	0.02%
	NFG	A	0.02%
	OLLI	D	0.02%
	DOCS	C	0.02%
	FOX	A	0.02%
	THO	B	0.02%
	JHG	A	0.02%
	H	B	0.02%
	ONTO	D	0.02%
	IDA	A	0.02%
	AGCO	D	0.02%
	SAIA	B	0.02%
	THG	A	0.02%
	PVH	C	0.02%
	FNB	A	0.02%
	XP	F	0.02%
	VNT	B	0.02%
	STWD	C	0.02%
	WHR	B	0.02%
	AMG	B	0.02%
	S	B	0.02%
	CE	F	0.02%
	BPOP	B	0.02%
	BIO	D	0.02%
	ARW	D	0.02%
	MTDR	B	0.02%
	COLD	D	0.02%
	ESI	A	0.02%
	LNC	B	0.02%
	NOV	C	0.02%
	OKTA	C	0.02%
	SIRI	C	0.02%
	MOH	F	0.02%
	OMF	A	0.02%
	KD	B	0.02%
	SAIC	F	0.02%
	MSA	D	0.02%
	MAT	D	0.02%
	PARA	C	0.02%
	DDS	B	0.01%
	TER	D	0.01%
	SNDR	B	0.01%
	TRIP	F	0.01%
	REYN	D	0.01%
	FTRE	D	0.01%
	QS	F	0.01%
	WEN	D	0.01%
	LEG	F	0.01%
	EXEL	B	0.01%
	CNXC	F	0.01%
	UA	C	0.01%
	LCID	F	0.01%
	CLVT	F	0.01%
	BIRK	D	0.01%
	SHC	F	0.01%
	ADTN	A	0.01%
	VSTS	C	0.01%
	RKT	F	0.01%
	CRI	D	0.01%
	PPC	C	0.01%
	AZEK	A	0.01%
	BRKR	D	0.01%
	PSTG	D	0.01%
	GO	C	0.01%
	KSS	F	0.01%
	ETSY	D	0.01%
	LYFT	C	0.01%
	MP	B	0.01%
	IPGP	D	0.01%
	GLOB	B	0.01%
	UAA	C	0.01%
	RCM	F	0.01%
	AAP	C	0.01%
	SAM	C	0.01%
	AZTA	D	0.01%
	YETI	C	0.01%
	ULTA	F	0.01%
	PINC	B	0.01%
	ALGM	D	0.01%
	HHH	B	0.01%
	CPRI	F	0.01%
	LPX	B	0.01%
	CNM	D	0.01%
	CWEN	C	0.01%
	JWN	C	0.01%
	HAYW	B	0.01%
	ENOV	C	0.01%
	BOKF	B	0.01%
	MPW	F	0.01%
	SPB	C	0.01%
	BROS	B	0.01%
	CC	C	0.01%
	AGR	B	0.01%
	CXT	B	0.01%
	COTY	F	0.01%
	COLM	B	0.01%
	VIRT	B	0.01%
	AMKR	D	0.01%
	U	C	0.01%
	AMED	F	0.01%
	MAN	D	0.01%
	PAG	B	0.01%
	WU	D	0.01%
	PK	B	0.01%
	NXST	C	0.01%
	IRDM	D	0.01%
	SPR	D	0.01%
	PENN	C	0.01%
	NSA	D	0.01%
	LOPE	B	0.01%
	SMG	D	0.01%
	VAC	B	0.01%
	ZI	D	0.01%
	MASI	A	0.01%
	ZG	A	0.01%
	EPR	D	0.01%
	ALNY	D	0.01%
	CPRT	A	0.01%
	ACHC	F	0.01%
	ASH	D	0.01%
	AM	A	0.01%
	FHB	A	0.01%
	CLF	F	0.01%
	UHAL	D	0.01%
	IAC	D	0.01%
	PII	D	0.01%
	HIW	D	0.01%
	NVST	B	0.01%
	W	F	0.01%
	NWS	B	0.01%
	NEU	C	0.01%
	OLED	D	0.01%
	PRGO	B	0.01%
	GFS	C	0.01%
	TNL	A	0.01%
	MSM	C	0.01%
	CIVI	D	0.01%
	MDU	D	0.01%
	TYL	B	0.01%
	MSGS	A	0.01%
	DNB	B	0.01%
	DXC	B	0.01%
	PLNT	A	0.01%
	RH	B	0.01%
	SEG	B	0.0%
	UWMC	D	0.0%
	IONS	F	0.0%
	TXG	F	0.0%
	CACC	D	0.0%
	DJT	C	0.0%
	SEB	F	0.0%
	PATH	C	0.0%
	PYCR	C	0.0%
	HCP	B	0.0%
	WOLF	F	0.0%
	CERT	F	0.0%
	LSCC	D	0.0%
	TFSL	A	0.0%
	FIVE	F	0.0%
	MTN	C	0.0%
	CAR	C	0.0%
	CNA	B	0.0%
	INFA	D	0.0%
	LBRDA	C	0.0%
	CWEN	C	0.0%
	DV	C	0.0%
	NCNO	B	0.0%

GVUS Underweight 39 Positions Relative to VCEB

	Symbol	Grade	Weight
	DT	C	-0.19%
	WEST	C	-0.06%
	EQH	B	-0.05%
	NOW	A	-0.04%
	STLA	F	-0.04%
	VRSK	A	-0.04%
	EXPE	B	-0.04%
	LLY	F	-0.03%
	MA	C	-0.03%
	VOD	F	-0.03%
	BABA	D	-0.02%
	DB	D	-0.02%
	GOOGL	C	-0.02%
	HSBC	B	-0.02%
	AVGO	D	-0.02%
	GSK	F	-0.02%
	AZN	D	-0.02%
	V	A	-0.02%
	ORCL	B	-0.02%
	WM	A	-0.01%
	WB	D	-0.01%
	NXPI	D	-0.01%
	KLAC	D	-0.01%
	BMO	A	-0.01%
	CM	A	-0.01%
	AER	B	-0.01%
	ADBE	C	-0.01%
	NVDA	C	-0.01%
	MRK	F	-0.01%
	BNS	A	-0.01%
	AMT	D	-0.01%
	LRCX	F	-0.01%
	TD	F	-0.01%
	NWG	C	-0.01%
	MUFG	B	-0.01%
	RY	A	-0.01%
	AMZN	C	-0.01%
	AAPL	C	-0.01%
	MSFT	F	-0.01%

GVUS: Top Represented Industries & Keywords

Industries: Diversified Industrials Banks - Regional - US Utilities - Regulated Electric Software - Application Asset Management Oil & Gas E&P Business Services Semiconductors Biotechnology Diagnostics & Research Specialty Retail Capital Markets Packaged Foods Specialty Chemicals Information Technology Services Insurance - Property & Casualty Packaging & Containers Aerospace & Defense Software - Infrastructure REIT - Residential

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

VCEB: Top Represented Industries & Keywords

Industries: Banks - Global Drug Manufacturers - Major Banks - Regional - US Semiconductors Packaged Foods Business Services Credit Services Asset Management Chemicals Diagnostics & Research Diversified Industrials Medical Devices Specialty Retail Telecom Services Capital Markets Health Care Plans Insurance - Diversified Insurance - Life Software - Application Beverages - Soft Drinks

Keywords: S&P 500 Nasdaq 100 Bank Dow Jones Component Insurance Banking Computing Investment Bank Financial Products Cash Management Commercial Banking Medicine Insurance Products Real Estate Investment Trust Disability Investment Management Asset Management Services Investment Banking Telecommunications Electronics