IWC vs. VFMV ETF Comparison

Comparison of iShares Microcap ETF (IWC) to Vanguard U.S. Minimum Volatility ETF (VFMV)

IWC

iShares Microcap ETF

IWC Description

The investment seeks to track the investment results of an index composed of micro-capitalization U.S. equities. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell Microcap Index (the "underlying index"), which measures the performance of the microcap sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$114.77

Average Daily Volume

27,871

Number of Holdings ^*

1465

* may have additional holdings in another (foreign) market

VFMV

Vanguard U.S. Minimum Volatility ETF

VFMV Description

The investment seeks to provide long-term capital appreciation with lower volatility relative to the broad U.S. equity market. The fund invests primarily in a group of U.S. common stocks that together are deemed by the advisor to have the potential to generate lower volatility relative to the broad U.S. equity market. The portfolio will include a diverse mix of companies representing many different market sectors and industry groups. 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

$108.52

Average Daily Volume

5,853

Number of Holdings ^*

156

* may have additional holdings in another (foreign) market

Performance

Period	IWC	VFMV
30 Days	-8.04%	-2.68%
60 Days	-6.80%	-0.30%
90 Days	0.29%	3.13%
12 Months	10.83%	12.13%

24 Overlapping Holdings

Symbol	Grade	Weight in IWC	Weight in VFMV	Overlap
AGX	A	0.2%	0.02%	0.02%
ATNI	F	0.08%	0.07%	0.07%
BLFY	D	0.05%	0.04%	0.04%
CASS	D	0.15%	0.59%	0.15%
DGICA	F	0.06%	0.19%	0.06%
DJCO	D	0.13%	0.09%	0.09%
EBF	C	0.13%	0.26%	0.13%
GLRE	B	0.08%	0.05%	0.05%
GSBC	D	0.12%	0.18%	0.12%
HSTM	C	0.16%	0.94%	0.16%
IDT	C	0.14%	1.52%	0.14%
IMMR	B	0.06%	0.22%	0.06%
MACK	A	0.04%	0.07%	0.04%
MCS	F	0.08%	1.48%	0.08%
MLR	B	0.14%	0.13%	0.13%
NVEC	C	0.1%	0.35%	0.1%
ODC	D	0.09%	0.16%	0.09%
OSG	C	0.09%	0.27%	0.09%
QNST	A	0.23%	0.07%	0.07%
SPOK	C	0.07%	0.28%	0.07%
TBPH	F	0.11%	0.03%	0.03%
THFF	D	0.11%	0.91%	0.11%
TRUE	F	0.07%	0.04%	0.04%
WSBF	F	0.05%	0.4%	0.05%

IWC Overweight 1441 Positions Relative to VFMV

Symbol	Grade	Weight
MOD	B	1.17%
CLSK	B	1.02%
STRL	C	0.78%
CRNX	A	0.75%
IDYA	C	0.66%
UEC	B	0.66%
ALPN	A	0.64%
RYTM	C	0.55%
RNA	A	0.48%
GEO	B	0.46%
PLAB	C	0.42%
VERA	D	0.41%
HLX	B	0.41%
RXST	B	0.4%
UFPT	D	0.39%
HWKN	A	0.38%
DYN	C	0.38%
NSSC	B	0.37%
LPG	A	0.37%
ADMA	A	0.36%
DO	D	0.35%
POWL	C	0.34%
ACMR	D	0.34%
CAL	C	0.33%
VTLE	B	0.33%
LMAT	C	0.32%
NTST	D	0.31%
PRDO	A	0.3%
CMCO	C	0.3%
MEG	A	0.3%
STEL	D	0.3%
AVPT	C	0.3%
INBX	D	0.3%
COLL	C	0.3%
WNC	D	0.3%
NX	D	0.29%
KOP	D	0.28%
ICHR	C	0.28%
DGII	B	0.28%
SKWD	C	0.28%
MNKD	D	0.28%
SCSC	C	0.28%
NWLI	A	0.28%
THR	A	0.27%
IESC	A	0.27%
OSW	C	0.27%
DAWN	A	0.27%
NIC	D	0.27%
FBRT	D	0.27%
WINA	D	0.27%
HIBB	A	0.26%
CRAI	A	0.26%
FDMT	D	0.26%
BLBD	D	0.26%
VSEC	A	0.26%
PEBO	A	0.26%
PLYM	D	0.25%
BXC	D	0.25%
QCRH	D	0.25%
ANIP	B	0.25%
ARLO	B	0.25%
TARS	D	0.25%
MGNX	D	0.25%
SP	B	0.25%
SGH	D	0.24%
TILE	D	0.24%
ARR	F	0.24%
GABC	C	0.24%
TRNS	B	0.24%
UMH	B	0.24%
ATEN	D	0.24%
REX	B	0.23%
EFC	B	0.23%
COCO	D	0.23%
GNK	A	0.23%
SXC	C	0.23%
EWTX	B	0.23%
PFBC	A	0.23%
MTUS	D	0.23%
ASPN	D	0.22%
SRRK	C	0.22%
BASE	C	0.22%
JANX	A	0.22%
OBK	D	0.22%
MYE	A	0.21%
LBAI	B	0.21%
UTL	B	0.21%
VITL	A	0.21%
AORT	B	0.21%
BZH	D	0.21%
BLX	B	0.21%
HCI	A	0.21%
UUUU	F	0.21%
HAYN	A	0.2%
FIP	A	0.2%
FBMS	F	0.2%
NAT	D	0.2%
ETD	D	0.2%
SWBI	A	0.2%
INDI	D	0.2%
DCPH	A	0.2%
BBSI	A	0.2%
VVI	D	0.19%
SLP	A	0.19%
PFC	D	0.19%
THRY	A	0.19%
BJRI	C	0.19%
HOV	B	0.19%
BFC	D	0.19%
KELYA	C	0.19%
WTTR	A	0.19%
MDXG	F	0.19%
HY	D	0.18%
ZEUS	D	0.18%
DCOM	D	0.18%
REVG	A	0.18%
IMXI	D	0.18%
EU	A	0.18%
FMBH	B	0.18%
AMRK	A	0.18%
ETNB	F	0.18%
VRDN	F	0.18%
CECO	B	0.18%
GDEN	F	0.18%
ASIX	F	0.18%
CNOB	F	0.18%
SBOW	F	0.18%
LAB	D	0.18%
DCO	A	0.18%
SCVL	B	0.17%
CDRE	C	0.17%
LQDA	D	0.17%
AMBC	C	0.17%
BRY	A	0.17%
ARCT	F	0.17%
ACCD	F	0.17%
KRUS	B	0.17%
NVRI	D	0.17%
IIIN	D	0.17%
EYPT	C	0.17%
HA	C	0.17%
CLW	A	0.17%
DX	C	0.17%
PWP	A	0.17%
SPTN	F	0.17%
NRIX	D	0.17%
CTBI	A	0.17%
EGY	B	0.17%
DXPE	B	0.17%
ASC	A	0.17%
HZO	F	0.16%
PNTG	A	0.16%
TWI	F	0.16%
STKL	B	0.16%
HSII	D	0.16%
ACHR	F	0.16%
VTOL	D	0.16%
BELFB	A	0.16%
PRAX	B	0.16%
IE	B	0.16%
USLM	A	0.16%
OSBC	B	0.16%
MBIN	C	0.16%
YMAB	C	0.15%
CFB	D	0.15%
WRLD	A	0.15%
FCBC	A	0.15%
DHC	F	0.15%
QTRX	D	0.15%
FOR	F	0.15%
COGT	F	0.15%
SOUN	D	0.15%
UTI	B	0.15%
OCUL	F	0.15%
UVSP	A	0.15%
GDYN	F	0.15%
MBWM	C	0.15%
AMTB	B	0.15%
CBL	D	0.15%
TPC	A	0.15%
YEXT	F	0.15%
CCRN	D	0.15%
BLFS	B	0.15%
MIRM	D	0.15%
SIBN	F	0.15%
IIIV	B	0.14%
HBNC	D	0.14%
BY	A	0.14%
CHUY	F	0.14%
GOOD	A	0.14%
BFST	D	0.14%
NR	B	0.14%
WSR	C	0.14%
TTI	D	0.14%
KNSA	C	0.14%
CCO	F	0.14%
MITK	C	0.14%
HCKT	D	0.14%
NEXT	A	0.13%
HTBK	D	0.13%
CSTL	B	0.13%
GLDD	F	0.13%
PKST	F	0.13%
GMRE	F	0.13%
EQBK	A	0.13%
PLOW	D	0.13%
IBCP	A	0.13%
LBPH	B	0.13%
YORW	C	0.13%
KE	F	0.13%
CPF	A	0.13%
FWRG	A	0.13%
LEU	B	0.13%
MSBI	D	0.13%
TRST	D	0.13%
CDLX	A	0.12%
WASH	B	0.12%
VERV	F	0.12%
PETQ	F	0.12%
MTW	F	0.12%
MCBS	C	0.12%
ACCO	F	0.12%
CLDT	F	0.12%
CABA	F	0.12%
RDUS	F	0.12%
OFIX	F	0.12%
ATRO	D	0.12%
SD	B	0.12%
ML	B	0.12%
HAFC	B	0.12%
NRDS	D	0.12%
AOSL	D	0.12%
FC	B	0.12%
HDSN	F	0.12%
FMNB	D	0.12%
TITN	F	0.12%
BV	A	0.12%
EVLV	F	0.12%
ZYME	D	0.12%
UFCS	B	0.12%
TPB	A	0.12%
ROOT	A	0.12%
HVT	D	0.12%
CATC	D	0.12%
NN	A	0.12%
ATXS	D	0.12%
CVGW	F	0.12%
UVE	B	0.12%
FPI	D	0.12%
KIDS	B	0.12%
EOLS	C	0.12%
LASR	D	0.12%
ALXO	A	0.11%
VPG	D	0.11%
ZIMV	D	0.11%
DHIL	D	0.11%
XPER	D	0.11%
WULF	C	0.11%
CDMO	D	0.11%
IVR	C	0.11%
NTGR	C	0.11%
SVRA	D	0.11%
LYEL	D	0.11%
BAND	A	0.11%
FULC	D	0.11%
PGC	F	0.11%
CDNA	F	0.11%
NVTS	F	0.11%
OSPN	A	0.11%
NPK	A	0.11%
DENN	F	0.11%
ARIS	B	0.11%
CGEM	A	0.11%
LAND	F	0.11%
SMMT	C	0.11%
OABI	F	0.11%
RBCAA	A	0.11%
MAX	B	0.11%
SMRT	F	0.11%
UHT	D	0.11%
CAC	C	0.11%
LWLG	F	0.11%
MCB	B	0.11%
CCB	B	0.11%
NNOX	D	0.11%
ORC	C	0.11%
RICK	F	0.11%
CEVA	D	0.11%
TK	C	0.11%
HTBI	B	0.1%
CWCO	D	0.1%
WVE	D	0.1%
SHYF	F	0.1%
ALRS	D	0.1%
CTO	A	0.1%
BBW	A	0.1%
MCBC	A	0.1%
BHB	B	0.1%
CLFD	C	0.1%
ANIK	A	0.1%
WEAV	D	0.1%
AVNW	C	0.1%
AAOI	F	0.1%
ALEC	F	0.1%
ALNT	F	0.1%
LMB	B	0.1%
NUVB	A	0.1%
TIPT	D	0.1%
CCNE	D	0.1%
OSUR	F	0.1%
TREE	B	0.1%
SMBC	F	0.1%
LQDT	D	0.1%
GCI	B	0.1%
URGN	F	0.1%
EVER	A	0.1%
PWFL	A	0.1%
SIGA	A	0.1%
FUBO	F	0.1%
ELVN	A	0.1%
FRPH	A	0.1%
ATEX	D	0.1%
MOV	D	0.1%
ADV	B	0.1%
LYTS	B	0.1%
CRGX	D	0.1%
HONE	C	0.1%
SRI	F	0.1%
ALT	D	0.1%
AMAL	A	0.1%
TAST	A	0.09%
HLVX	D	0.09%
BWMN	C	0.09%
CSV	C	0.09%
AMSWA	F	0.09%
FFIC	F	0.09%
ORIC	D	0.09%
AROW	D	0.09%
DSGR	B	0.09%
SB	A	0.09%
TCMD	F	0.09%
WLDN	A	0.09%
CRMT	F	0.09%
LMNR	A	0.09%
TNGX	D	0.09%
MNMD	A	0.09%
OIS	F	0.09%
BHRB	D	0.09%
KALV	C	0.09%
ABUS	D	0.09%
NFBK	F	0.09%
DAKT	A	0.09%
ACRE	D	0.09%
MRSN	D	0.09%
FFWM	F	0.09%
TRC	A	0.09%
CTLP	F	0.09%
AMSC	C	0.09%
MCFT	F	0.09%
STTK	A	0.09%
ANAB	B	0.09%
NBN	D	0.09%
CCBG	F	0.09%
FARO	C	0.09%
UIS	B	0.09%
RGP	F	0.09%
BOC	F	0.09%
CVLG	D	0.09%
OLP	A	0.09%
SRDX	F	0.09%
MPB	D	0.08%
GHM	B	0.08%
ANNX	D	0.08%
CERS	F	0.08%
AVD	D	0.08%
RBB	A	0.08%
VYGR	D	0.08%
CRMD	B	0.08%
PLPC	F	0.08%
GCO	F	0.08%
DAVE	A	0.08%
SPFI	B	0.08%
MTRX	D	0.08%
MOFG	F	0.08%
IRMD	D	0.08%
SMHI	D	0.08%
HROW	F	0.08%
SNBR	F	0.08%
STOK	B	0.08%
NWPX	C	0.08%
CCCC	D	0.08%
SMMF	B	0.08%
CELC	D	0.08%
DMRC	F	0.08%
LOVE	C	0.08%
REPL	F	0.08%
SHBI	F	0.08%
IMNM	D	0.08%
CNSL	B	0.08%
ARTNA	F	0.08%
KIND	C	0.08%
LFMD	A	0.08%
SMBK	D	0.08%
GNE	F	0.08%
CRBU	F	0.08%
BOOM	F	0.08%
AGS	C	0.08%
ESQ	D	0.08%
PACK	A	0.08%
REAL	A	0.08%
TBI	F	0.08%
MXCT	F	0.08%
LIND	D	0.07%
REFI	B	0.07%
NATR	A	0.07%
HBCP	D	0.07%
NEWT	F	0.07%
FSTR	D	0.07%
HIFS	B	0.07%
AURA	D	0.07%
TRML	F	0.07%
PRCH	D	0.07%
VNDA	B	0.07%
TCBX	A	0.07%
LXFR	F	0.07%
CPS	B	0.07%
SLDP	B	0.07%
RYAM	F	0.07%
AVXL	F	0.07%
ORRF	B	0.07%
AVTE	D	0.07%
PFIS	F	0.07%
MVIS	F	0.07%
FBIZ	D	0.07%
CZNC	F	0.07%
OLMA	D	0.07%
CARE	D	0.07%
HRTG	A	0.07%
INBK	D	0.07%
AMPY	B	0.07%
FISI	F	0.07%
FMAO	B	0.07%
DCGO	F	0.07%
WTBA	F	0.07%
ALTG	F	0.07%
ZUMZ	B	0.07%
ITOS	D	0.07%
KODK	D	0.07%
BSRR	A	0.07%
CLMB	D	0.07%
PKE	D	0.07%
LUNG	D	0.07%
VMD	C	0.07%
FSBC	D	0.07%
PAHC	A	0.07%
NGS	B	0.07%
ABSI	C	0.07%
SENEA	A	0.07%
PSTL	D	0.07%
PBPB	D	0.07%
MBI	D	0.07%
TRDA	F	0.07%
ONEW	F	0.07%
EGHT	F	0.07%
AXGN	F	0.07%
CWBC	B	0.07%
ACNB	F	0.07%
AVIR	D	0.07%
PHAT	F	0.07%
AEHR	F	0.07%
HRTX	D	0.07%
JMSB	F	0.06%
THRD	B	0.06%
SFST	F	0.06%
FRGE	F	0.06%
ASLE	F	0.06%
LEGH	D	0.06%
FDBC	F	0.06%
BMEA	F	0.06%
BCML	D	0.06%
HLLY	F	0.06%
IHRT	D	0.06%
FNLC	F	0.06%
ORN	D	0.06%
AAN	F	0.06%
FRST	F	0.06%
GRNT	B	0.06%
BYRN	D	0.06%
RRBI	F	0.06%
MLYS	C	0.06%
STRO	F	0.06%
RCEL	F	0.06%
SHCR	F	0.06%
FORR	F	0.06%
SLQT	D	0.06%
FNKO	D	0.06%
RBBN	B	0.06%
NKTX	D	0.06%
LSEA	C	0.06%
GPMT	F	0.06%
HIPO	A	0.06%
HEAR	B	0.06%
TYRA	C	0.06%
USAP	A	0.06%
JOUT	F	0.06%
CHRS	F	0.06%
ANGO	D	0.06%
CIVB	F	0.06%
ULH	A	0.06%
MVBF	F	0.06%
TSVT	D	0.06%
OBT	F	0.06%
FLIC	F	0.06%
SERA	A	0.06%
UTMD	F	0.06%
LOCO	D	0.06%
POWW	B	0.06%
EBTC	F	0.06%
XERS	F	0.06%
PPTA	B	0.06%
CTV	B	0.06%
RAPT	F	0.06%
HSHP	A	0.06%
WTI	F	0.06%
LINC	A	0.06%
HMST	D	0.06%
HUMA	A	0.06%
IAUX	F	0.06%
FLWS	D	0.06%
GNTY	D	0.06%
AMPS	F	0.06%
REI	B	0.06%
PANL	C	0.06%
BWB	D	0.06%
OUST	A	0.06%
VLGEA	A	0.06%
HBT	D	0.06%
ILPT	F	0.06%
SOI	B	0.06%
APLD	F	0.06%
FRBA	D	0.06%
REPX	F	0.06%
NRIM	C	0.06%
IRON	F	0.06%
BMRC	F	0.06%
TCX	F	0.05%
COFS	C	0.05%
JYNT	B	0.05%
NNBR	D	0.05%
CBAN	C	0.05%
NKSH	F	0.05%
MBCN	F	0.05%
EPM	F	0.05%
GENC	A	0.05%
CIO	B	0.05%
TWIN	B	0.05%
LCNB	D	0.05%
PBYI	C	0.05%
TLS	C	0.05%
NATH	D	0.05%
CDXC	A	0.05%
FLXS	B	0.05%
ONL	F	0.05%
CTRN	F	0.05%
TRAK	A	0.05%
PGEN	F	0.05%
FVCB	D	0.05%
ALDX	C	0.05%
TSBK	F	0.05%
BHR	A	0.05%
KRT	C	0.05%
CLAR	C	0.05%
RCKY	D	0.05%
CBNK	D	0.05%
FET	D	0.05%
ESPR	C	0.05%
SSBK	D	0.05%
BLUE	F	0.05%
OVID	F	0.05%
BLZE	C	0.05%
TCRX	A	0.05%
OMER	F	0.05%
DXLG	F	0.05%
PFMT	F	0.05%
HYLN	C	0.05%
RDVT	F	0.05%
ACTG	B	0.05%
PLBC	B	0.05%
AFCG	A	0.05%
XOMA	A	0.05%
MG	D	0.05%
ATNM	C	0.05%
PINE	D	0.05%
INSE	F	0.05%
HOFT	F	0.05%
ITI	D	0.05%
BLDE	B	0.05%
ONTF	F	0.05%
SFIX	F	0.05%
TTSH	C	0.05%
XBIT	B	0.05%
UNTY	D	0.05%
JSPR	C	0.05%
RIGL	F	0.05%
HBB	B	0.05%
LE	A	0.05%
MYPS	F	0.05%
PCYO	F	0.05%
MHLD	B	0.05%
ITIC	A	0.05%
BTBT	F	0.05%
APEI	A	0.05%
FSP	F	0.05%
ALCO	C	0.05%
GCBC	A	0.05%
CIFR	B	0.05%
TERN	F	0.05%
SGC	B	0.05%
NECB	B	0.05%
CVGI	F	0.05%
CDXS	C	0.05%
PKOH	B	0.05%
FSBW	D	0.05%
GTHX	B	0.05%
BRT	A	0.05%
ZYXI	D	0.05%
GRPN	D	0.05%
IPI	D	0.05%
HNST	D	0.05%
RM	B	0.05%
INZY	F	0.05%
ORGO	F	0.05%
SPRY	C	0.05%
ACIC	D	0.05%
NXDT	F	0.05%
TNYA	C	0.05%
ARAY	F	0.05%
PLL	F	0.05%
CVLY	C	0.05%
ADTH	A	0.05%
ESCA	F	0.04%
TLYS	D	0.04%
GAMB	F	0.04%
CMPX	F	0.04%
ESSA	D	0.04%
FUNC	A	0.04%
SAMG	F	0.04%
BVS	F	0.04%
EVI	F	0.04%
CMT	D	0.04%
SACH	F	0.04%
OPRX	D	0.04%
CRD.B	D	0.04%
GWRS	C	0.04%
ALTO	F	0.04%
MRAM	F	0.04%
WLFC	B	0.04%
BCBP	F	0.04%
TGAN	C	0.04%
CSTE	A	0.04%
VRCA	A	0.04%
FFNW	C	0.04%
PSTX	D	0.04%
GRWG	B	0.04%
INFU	F	0.04%
FF	B	0.04%
RMBL	F	0.04%
GBIO	F	0.04%
STXS	D	0.04%
BWFG	F	0.04%
QUAD	F	0.04%
RMNI	F	0.04%
PAYS	A	0.04%
BH	B	0.04%
PESI	B	0.04%
BKSY	F	0.04%
TSQ	B	0.04%
INOD	F	0.04%
BARK	D	0.04%
NPCE	D	0.04%
VEL	B	0.04%
MLP	D	0.04%
LXRX	F	0.04%
ISTR	A	0.04%
LCTX	F	0.04%
NGVC	C	0.04%
HBIO	D	0.04%
CRBP	B	0.04%
CHMG	B	0.04%
DC	A	0.04%
XFOR	C	0.04%
ELEV	D	0.04%
MEC	A	0.04%
QRHC	A	0.04%
STHO	D	0.04%
QIPT	F	0.04%
AVBP	D	0.04%
BPRN	D	0.04%
ERAS	D	0.04%
SEVN	B	0.04%
RNGR	F	0.04%
APLT	D	0.04%
ARQ	A	0.04%
MFIN	F	0.04%
CTGO	A	0.04%
FREE	A	0.04%
MGTX	F	0.04%
GEOS	D	0.04%
PYXS	C	0.04%
SES	D	0.04%
CVRX	D	0.04%
RGCO	A	0.04%
OCN	F	0.04%
MITT	D	0.04%
INGN	D	0.04%
ASUR	D	0.04%
PDLB	D	0.04%
BDTX	A	0.04%
BBCP	F	0.04%
LNKB	D	0.04%
CRDF	B	0.04%
OB	B	0.04%
NRDY	F	0.04%
RSVR	A	0.04%
OOMA	D	0.04%
LFCR	F	0.04%
QUIK	B	0.04%
JAKK	F	0.04%
LRMR	D	0.04%
CMCL	F	0.04%
CALB	C	0.04%
WEYS	C	0.04%
ZVRA	D	0.04%
SKYT	B	0.04%
GEVO	F	0.04%
FENC	D	0.04%
SMID	D	0.04%
EML	A	0.04%
ATLO	A	0.04%
CZFS	F	0.04%
PCB	D	0.04%
OVLY	B	0.04%
TG	B	0.04%
VERU	A	0.04%
PKBK	D	0.04%
GLUE	F	0.04%
QSI	F	0.04%
NWFL	F	0.04%
VRA	D	0.04%
RLGT	F	0.04%
FLL	B	0.04%
AQST	D	0.04%
LAW	B	0.04%
SCX	A	0.03%
CBFV	B	0.03%
KFS	A	0.03%
GLYC	F	0.03%
CSPI	D	0.03%
OVBC	D	0.03%
BCAB	F	0.03%
FONR	F	0.03%
RRGB	D	0.03%
MOND	F	0.03%
MVST	F	0.03%
WMPN	B	0.03%
DHX	F	0.03%
RLMD	F	0.03%
FINW	A	0.03%
ECBK	D	0.03%
CTXR	D	0.03%
LYRA	C	0.03%
VERI	D	0.03%
LTRX	D	0.03%
CIA	D	0.03%
RCMT	F	0.03%
DOUG	F	0.03%
BVFL	D	0.03%
BSVN	B	0.03%
IGMS	D	0.03%
BFLY	F	0.03%
KOPN	F	0.03%
UBFO	D	0.03%
STIM	D	0.03%
WHG	B	0.03%
MAMA	A	0.03%
IVVD	F	0.03%
PBFS	D	0.03%
FHTX	D	0.03%
SEER	D	0.03%
CZWI	C	0.03%
AOUT	F	0.03%
ACR	A	0.03%
CAPR	C	0.03%
NREF	D	0.03%
KLTR	D	0.03%
TPIC	D	0.03%
IMUX	F	0.03%
VTNR	D	0.03%
MPAA	D	0.03%
RXT	D	0.03%
KOD	F	0.03%
HNRG	F	0.03%
BFIN	D	0.03%
USCB	C	0.03%
SBT	F	0.03%
PLSE	D	0.03%
OPBK	D	0.03%
BSET	D	0.03%
EARN	A	0.03%
ACET	F	0.03%
CTMX	D	0.03%
UNB	D	0.03%
NOTV	F	0.03%
EPSN	A	0.03%
CMPO	A	0.03%
ALOT	C	0.03%
ATLC	D	0.03%
AIP	C	0.03%
RMBI	D	0.03%
MDV	C	0.03%
AVAH	C	0.03%
REKR	F	0.03%
CADL	A	0.03%
HWBK	F	0.03%
TDUP	F	0.03%
VABK	D	0.03%
INVE	D	0.03%
EOSE	F	0.03%
PEPG	C	0.03%
STKS	A	0.03%
LAKE	D	0.03%
TBRG	F	0.03%
SNDA	A	0.03%
MNSB	F	0.03%
HURC	F	0.03%
ALTI	F	0.03%
ACRV	B	0.03%
NC	F	0.03%
CFFI	D	0.03%
EBS	F	0.03%
AXTI	D	0.03%
LVO	B	0.03%
LCUT	D	0.03%
DSGN	B	0.03%
JILL	F	0.03%
INMB	B	0.03%
PHX	B	0.03%
NRGV	F	0.03%
TRVI	C	0.03%
FCCO	D	0.03%
UEIC	A	0.03%
AGEN	D	0.03%
HFFG	F	0.03%
IBEX	F	0.03%
FRAF	A	0.03%
RMAX	F	0.03%
MASS	D	0.03%
RELL	B	0.03%
AMTX	F	0.03%
ABOS	F	0.03%
NODK	B	0.03%
SGHT	B	0.03%
SMTI	F	0.03%
WNEB	F	0.03%
SWIM	F	0.03%
KPTI	F	0.03%
AOMR	B	0.03%
SYRS	C	0.03%
NAUT	D	0.03%
SMLR	F	0.03%
LXEO	D	0.03%
III	F	0.03%
ELMD	B	0.03%
ATOM	F	0.03%
CLPT	D	0.03%
EVC	F	0.03%
STRS	B	0.03%
PWOD	F	0.03%
NTIC	A	0.03%
EHTH	F	0.03%
LLAP	B	0.03%
MYFW	B	0.03%
VTSI	A	0.03%
SPWH	F	0.03%
HOWL	C	0.03%
INTT	F	0.03%
PEBK	A	0.03%
FRD	A	0.03%
SSTI	F	0.03%
DSP	C	0.03%
BLNK	F	0.03%
FNGR	B	0.03%
TAYD	B	0.03%
DIBS	B	0.03%
VIRC	A	0.03%
SCPH	F	0.03%
EGAN	D	0.03%
PVBC	D	0.03%
EVBN	D	0.03%
WISH	D	0.03%
SPRO	D	0.02%
CURV	A	0.02%
GAIA	A	0.02%
IDN	A	0.02%
DLTH	F	0.02%
MGYR	B	0.02%
ABEO	F	0.02%
APT	B	0.02%
SCLX	F	0.02%
SND	B	0.02%
CVM	F	0.02%
GWH	F	0.02%
MNOV	F	0.02%
FGBI	B	0.02%
BTAI	F	0.02%
UPLD	F	0.02%
MPU	D	0.02%
LENZ	B	0.02%
UBCP	B	0.02%
NL	A	0.02%
DCTH	A	0.02%
HQI	D	0.02%
SST	D	0.02%
GMGI	B	0.02%
SWKH	A	0.02%
ETON	D	0.02%
OTLK	D	0.02%
FEIM	D	0.02%
GNLX	F	0.02%
PFIE	B	0.02%
BIRD	F	0.02%
GRTS	F	0.02%
GSIT	B	0.02%
OMEX	F	0.02%
PRPH	F	0.02%
OBIO	F	0.02%
ATHA	F	0.02%
AUGX	F	0.02%
ATRA	F	0.02%
ACNT	C	0.02%
ALLK	F	0.02%
PRTS	F	0.02%
OPTN	F	0.02%
PROV	D	0.02%
PNRG	A	0.02%
AIRS	F	0.02%
LEE	B	0.02%
HMNF	D	0.02%
CFBK	C	0.02%
PMTS	F	0.02%
AE	A	0.02%
PMVP	C	0.02%
LFT	A	0.02%
NOTE	F	0.02%
COYA	C	0.02%
VOR	F	0.02%
BGFV	F	0.02%
KRMD	D	0.02%
GLT	F	0.02%
LUNA	F	0.02%
BCOV	F	0.02%
TELA	F	0.02%
DNMR	F	0.02%
CPHC	B	0.02%
CPSS	B	0.02%
DLHC	F	0.02%
IPSC	F	0.02%
MCRB	D	0.02%
SGMO	F	0.02%
CLSD	D	0.02%
COOK	F	0.02%
MRBK	D	0.02%
TUSK	F	0.02%
CMRX	D	0.02%
FXNC	F	0.02%
LFVN	F	0.02%
AFBI	A	0.02%
BTMD	D	0.02%
RNAC	B	0.02%
VUZI	F	0.02%
MRNS	F	0.02%
MNTX	F	0.02%
GLSI	D	0.02%
PLX	F	0.02%
HGBL	F	0.02%
RSSS	D	0.02%
SCWO	B	0.02%
LWAY	B	0.02%
VOXX	F	0.02%
ESOA	D	0.02%
EP	D	0.02%
GALT	A	0.02%
ULBI	A	0.02%
SUP	B	0.02%
LARK	D	0.02%
ASRT	F	0.02%
SNFCA	F	0.02%
ACRS	F	0.02%
PLCE	F	0.02%
EXFY	F	0.02%
ORGN	C	0.02%
CNTY	D	0.02%
PETS	F	0.02%
SBFG	D	0.02%
FNWB	F	0.02%
ANVS	D	0.02%
STRT	D	0.02%
RZLT	B	0.02%
SFBC	B	0.02%
PRPL	F	0.02%
CATO	F	0.02%
SGA	A	0.02%
RVSB	F	0.02%
SRBK	D	0.02%
OPRT	D	0.02%
BBAI	F	0.02%
CCRD	C	0.02%
ORMP	F	0.02%
SLDB	D	0.02%
PTSI	C	0.02%
AKYA	F	0.02%
PDSB	F	0.02%
KVHI	F	0.02%
ACU	D	0.02%
EEX	D	0.02%
AREC	D	0.02%
PXLW	C	0.02%
GIFI	A	0.02%
BEEM	D	0.02%
BGSF	F	0.02%
CDZI	F	0.02%
ANIX	F	0.02%
FSFG	C	0.02%
FCAP	F	0.02%
FNCB	D	0.02%
LIFE	F	0.02%
MPX	D	0.02%
KEQU	A	0.02%
HNVR	B	0.02%
EBMT	D	0.02%
GNSS	D	0.02%
WW	F	0.02%
ISSC	F	0.02%
IVAC	A	0.02%
CHMI	C	0.02%
ISPR	F	0.02%
FNWD	B	0.02%
UFI	C	0.02%
KLXE	F	0.02%
OPI	F	0.02%
AJX	F	0.02%
BIG	F	0.02%
AEYE	A	0.02%
ARC	B	0.02%
IDR	B	0.02%
MDWD	A	0.02%
SGMT	F	0.02%
NEON	B	0.01%
MGLD	A	0.01%
WVVI	F	0.01%
MOVE	F	0.01%
EMKR	F	0.01%
CPSH	D	0.01%
SOHO	D	0.01%
LVLU	F	0.01%
PIII	F	0.01%
ARL	F	0.01%
RPHM	D	0.01%
RPID	C	0.01%
ICD	C	0.01%
BDL	D	0.01%
ELYM	A	0.01%
LNSR	F	0.01%
DFLI	C	0.01%
HFBL	F	0.01%
POCI	D	0.01%
ZVIA	F	0.01%
MEIP	F	0.01%
DRRX	F	0.01%
BYFC	D	0.01%
RFL	F	0.01%
VLD	F	0.01%
ANTX	F	0.01%
VERY	B	0.01%
GTIM	A	0.01%
KIRK	F	0.01%
DERM	D	0.01%
OMIC	F	0.01%
AWRE	B	0.01%
DARE	F	0.01%
SKIL	F	0.01%
ARKR	F	0.01%
VIRX	F	0.01%
VBFC	B	0.01%
CVV	F	0.01%
BCLI	D	0.01%
CLIR	F	0.01%
DIT	F	0.01%
ICCH	A	0.01%
DZSI	F	0.01%
QMCO	F	0.01%
ARMP	F	0.01%
EVTV	D	0.01%
GORV	F	0.01%
RDI	F	0.01%
CKPT	F	0.01%
AIRT	A	0.01%
GEG	D	0.01%
MCHX	D	0.01%
PPSI	F	0.01%
UG	A	0.01%
ALGS	F	0.01%
FTEK	A	0.01%
CVU	B	0.01%
FOA	F	0.01%
RFIL	F	0.01%
CURI	B	0.01%
WFCF	B	0.01%
OESX	F	0.01%
BKKT	F	0.01%
SIEB	B	0.01%
VIA	A	0.01%
TARA	C	0.01%
BOLT	F	0.01%
FKWL	B	0.01%
TCS	F	0.01%
AADI	F	0.01%
PBBK	D	0.01%
CODA	A	0.01%
NTIP	F	0.01%
BSBK	F	0.01%
SRFM	F	0.01%
DYAI	F	0.01%
AP	F	0.01%
RBOT	F	0.01%
RDW	A	0.01%
NAII	B	0.01%
USIO	F	0.01%
MESA	B	0.01%
SURG	F	0.01%
HCWB	F	0.01%
FTCI	F	0.01%
QUBT	F	0.01%
ICCC	D	0.01%
ISDR	F	0.01%
OPFI	D	0.01%
VALU	F	0.01%
DAIO	F	0.01%
QNCX	D	0.01%
LTBR	F	0.01%
BHIL	F	0.01%
RBKB	C	0.01%
CARA	F	0.01%
MHH	C	0.01%
OCUP	F	0.01%
ELA	F	0.01%
HNNA	A	0.01%
RENT	D	0.01%
USAU	A	0.01%
UHG	F	0.01%
SOTK	D	0.01%
NXTC	F	0.01%
CODX	C	0.01%
ONDS	F	0.01%
BDSX	F	0.01%
CTSO	F	0.01%
TCBS	A	0.01%
PET	A	0.01%
CSBR	F	0.01%
XAIR	F	0.01%
WKHS	F	0.01%
BOTJ	D	0.01%
VHI	D	0.01%
IMRX	F	0.01%
DTC	F	0.01%
TOON	F	0.01%
DRIO	F	0.01%
LTRN	D	0.01%
KORE	B	0.01%
CPBI	D	0.01%
BKTI	A	0.01%
TCI	F	0.01%
ICAD	F	0.01%
CUTR	C	0.01%
AUBN	D	0.01%
HYFM	C	0.01%
TACT	D	0.01%
IROQ	B	0.01%
LPSN	F	0.01%
PDEX	B	0.01%
ASRV	D	0.01%
ALVR	C	0.01%
LIVE	D	0.01%
CRVS	F	0.01%
BCOW	B	0.01%
IKNA	F	0.01%
VANI	D	0.01%
GOCO	F	0.01%
VIGL	F	0.01%
APYX	F	0.01%
ESP	B	0.01%
CMLS	F	0.01%
KRON	D	0.01%
FSEA	A	0.01%
FOSL	F	0.01%
VATE	D	0.01%
CMCT	F	0.01%
AHT	F	0.01%
CMBM	F	0.01%
CCEL	A	0.01%
HYPR	F	0.01%
GORO	B	0.01%
BWEN	F	0.01%
IRIX	B	0.01%
CMTL	F	0.01%
MPTI	D	0.01%
PBHC	B	0.01%
LOAN	A	0.01%
HSON	B	0.01%
RVPH	F	0.01%
LL	F	0.01%
HHS	C	0.01%
CARM	F	0.01%
NSTS	A	0.01%
SLS	B	0.01%
CDTX	F	0.01%
BAFN	A	0.01%
SELF	D	0.01%
KTCC	F	0.01%
TUP	F	0.01%
GANX	F	0.01%
TSBX	F	0.01%
IPWR	D	0.01%
VNRX	D	0.01%
REFR	B	0.01%
CGTX	D	0.01%
NVCT	F	0.01%
BRBS	F	0.01%
CLPR	D	0.01%
ENZ	F	0.01%
DPSI	D	0.01%
RAIL	B	0.01%
FARM	D	0.01%
CIX	B	0.01%
OSS	D	0.01%
AEVA	F	0.01%
AIRG	B	0.01%
STCN	A	0.01%
EGRX	F	0.01%
FORA	F	0.01%
METCB	F	0.01%
FUSB	A	0.01%
NHTC	A	0.01%
CRWS	D	0.01%
CONN	D	0.01%
FEAM	F	0.01%
SSBI	F	0.01%
ASMB	B	0.01%
SRTS	C	0.01%
FLUX	B	0.01%
RLYB	D	0.01%
PASG	C	0.01%
BW	F	0.01%
OPOF	F	0.01%
SCOR	F	0.01%
CUE	D	0.01%
CLST	C	0.01%
LNZA	F	0.01%
PLBY	B	0.01%
PPIH	B	0.01%
RENB	F	0.01%
HOOK	B	0.01%
TCBC	D	0.01%
BYSI	D	0.01%
ASYS	D	0.01%
NVNO	C	0.01%
TBNK	D	0.01%
CULL	C	0.01%
NDLS	F	0.01%
SKYX	F	0.01%
BHM	B	0.01%
AQMS	F	0.01%
PRTH	C	0.01%
AXR	D	0.01%
PSNL	C	0.01%
MKTW	F	0.01%
CULP	D	0.01%
CXDO	D	0.01%
NEOV	B	0.01%
GAN	F	0.01%
OMGA	F	0.01%
TZOO	C	0.01%
AFRI	D	0.01%
NINE	D	0.01%
AKTS	F	0.01%
PRLD	D	0.01%
ZURA	B	0.01%
KZR	F	0.01%
LPTH	F	0.01%
DMAC	D	0.01%
SCYX	D	0.01%
GOSS	F	0.01%
WRAP	F	0.01%
RNAC	B	0.0%
AZTR	F	0.0%
PRST	F	0.0%
TRNR	F	0.0%
FATBB	F	0.0%
LGVN	F	0.0%
SOC	F	0.0%
CYN	F	0.0%
CSSE	C	0.0%
MBIO	F	0.0%
OMQS	F	0.0%
SOBR	F	0.0%
PRTG	F	0.0%
KITT	F	0.0%
MSS	F	0.0%
MYMD	D	0.0%
TBIO	F	0.0%
AINC	B	0.0%
AAMC	F	0.0%
KA	F	0.0%
NB	F	0.0%
INKT	D	0.0%
CTM	F	0.0%
ANEB	A	0.0%
NXPL	F	0.0%
MGRM	F	0.0%
COSM	F	0.0%
CAMP	D	0.0%
RGF	F	0.0%
VMAR	F	0.0%
BIVI	F	0.0%
AMIX	C	0.0%
UPXI	F	0.0%
COHN	D	0.0%
AREN	F	0.0%
PODC	F	0.0%
CXAI	B	0.0%
VWE	F	0.0%
VGAS	B	0.0%
INTG	F	0.0%
BCDA	F	0.0%
LUCD	D	0.0%
SVT	B	0.0%
SDOT	F	0.0%
ETAO	F	0.0%
GRTX	F	0.0%
CMAX	F	0.0%
VAXX	F	0.0%
FCUV	F	0.0%
AAME	F	0.0%
AMPX	F	0.0%
DWSN	B	0.0%
BNED	F	0.0%
IPDN	F	0.0%
XPON	F	0.0%
BSGM	C	0.0%
NCSM	A	0.0%
SONM	F	0.0%
TKNO	F	0.0%
PNBK	F	0.0%
KOSS	F	0.0%
SHIM	D	0.0%
SANW	F	0.0%
SSKN	D	0.0%
HOFV	F	0.0%
PMD	D	0.0%
AVTX	C	0.0%
VNCE	F	0.0%
SBEV	F	0.0%
USGO	D	0.0%
AGAE	D	0.0%
AKLI	D	0.0%
INAB	F	0.0%
RNXT	F	0.0%
LINK	F	0.0%
GLTO	F	0.0%
CCLD	F	0.0%
KFFB	D	0.0%
CLRO	D	0.0%
LUXH	F	0.0%
IOR	A	0.0%
RGS	F	0.0%
SLNG	C	0.0%
BMTX	F	0.0%
APCX	F	0.0%
USEG	B	0.0%
SPI	F	0.0%
GAME	F	0.0%
OCEA	F	0.0%
XGN	F	0.0%
CHCI	A	0.0%
TLF	A	0.0%
CLNN	D	0.0%
LPTV	F	0.0%
STRM	F	0.0%
SMSI	F	0.0%
SNSE	A	0.0%
VRAR	F	0.0%
BGXX	D	0.0%
ORGS	F	0.0%
TPET	D	0.0%
FSI	A	0.0%
ACXP	F	0.0%
AMPG	B	0.0%
RVP	D	0.0%
OCC	F	0.0%
FGF	F	0.0%
TXMD	F	0.0%
DLA	F	0.0%
KALA	F	0.0%
HLTH	F	0.0%
FTHM	F	0.0%
CETY	B	0.0%
CFSB	D	0.0%
MAYS	D	0.0%
IMMX	F	0.0%
EYEN	F	0.0%
JRSH	A	0.0%
MAIA	A	0.0%
SYPR	F	0.0%
LSBK	B	0.0%
MIGI	F	0.0%
DMTK	F	0.0%
RMCF	F	0.0%
UONEK	F	0.0%
SPRB	F	0.0%
UONE	F	0.0%
INTS	F	0.0%
SLND	F	0.0%
RMTI	F	0.0%
PMCB	F	0.0%
ELUT	D	0.0%
XLO	C	0.0%
DRCT	F	0.0%
BATL	F	0.0%
TWOU	F	0.0%
BRID	F	0.0%
UBX	F	0.0%

IWC Underweight 132 Positions Relative to VFMV

Symbol	Grade	Weight
CBOE	C	-1.56%
IBM	D	-1.56%
ROP	D	-1.55%
CVLT	B	-1.54%
TJX	C	-1.53%
MRK	A	-1.53%
ABBV	C	-1.52%
CME	C	-1.52%
RSG	A	-1.52%
EA	D	-1.51%
JNJ	F	-1.51%
TMUS	A	-1.5%
LRN	A	-1.5%
MCK	A	-1.5%
MCD	D	-1.49%
FCN	A	-1.48%
KEX	A	-1.45%
NOC	A	-1.45%
LMT	A	-1.43%
AAPL	F	-1.42%
ORLY	D	-1.42%
NTAP	A	-1.41%
CHD	A	-1.33%
VZ	C	-1.29%
TXN	A	-1.29%
PG	A	-1.29%
IDCC	C	-1.24%
DOX	D	-1.23%
GILD	F	-1.21%
WMT	C	-1.16%
EQC	D	-1.15%
DLB	F	-1.11%
SAFT	C	-1.09%
GIS	A	-1.08%
BLKB	B	-1.07%
CHE	D	-1.07%
WM	B	-1.05%
LLY	B	-1.04%
AVGO	C	-1.01%
INST	F	-1.01%
AMGN	C	-1.0%
MGEE	A	-0.99%
XOM	A	-0.98%
MUSA	B	-0.97%
WTM	B	-0.97%
OSIS	B	-0.97%
CL	A	-0.92%
CSCO	D	-0.91%
BMY	F	-0.91%
YELP	B	-0.86%
CAH	C	-0.82%
NSIT	C	-0.79%
UNH	D	-0.79%
GPOR	A	-0.79%
CVX	A	-0.78%
LAUR	A	-0.76%
GOOGL	A	-0.73%
MSFT	C	-0.7%
CRUS	C	-0.64%
DUK	A	-0.6%
AMSF	F	-0.59%
WMB	A	-0.57%
ED	A	-0.55%
NEU	D	-0.55%
HURN	D	-0.52%
LOPE	C	-0.52%
NABL	D	-0.51%
FLO	A	-0.51%
ESGR	B	-0.5%
HSY	C	-0.49%
PBH	B	-0.49%
CPK	A	-0.46%
WEC	A	-0.44%
TRV	C	-0.43%
CHCO	B	-0.43%
K	A	-0.41%
CLBK	B	-0.41%
KMB	A	-0.4%
MO	A	-0.4%
PSN	C	-0.39%
AZO	C	-0.39%
AJG	C	-0.39%
REGN	C	-0.38%
MDLZ	B	-0.36%
VECO	B	-0.36%
LDOS	A	-0.36%
HRL	A	-0.33%
JBSS	D	-0.3%
NHC	C	-0.28%
ACN	D	-0.28%
ADI	A	-0.28%
EXEL	A	-0.27%
ROL	B	-0.27%
UVV	A	-0.27%
HPE	C	-0.27%
MSGS	B	-0.26%
META	D	-0.26%
JJSF	F	-0.26%
PGR	A	-0.26%
AGYS	A	-0.26%
RLI	C	-0.25%
NWE	A	-0.24%
SHEN	F	-0.23%
KMI	A	-0.22%
SPNS	A	-0.16%
OLLI	D	-0.14%
HMN	A	-0.12%
SR	A	-0.12%
IRDM	B	-0.12%
BRK.A	C	-0.12%
KO	A	-0.11%
GHC	C	-0.1%
HTLD	F	-0.09%
CNXN	D	-0.09%
INCY	F	-0.09%
VRTX	D	-0.07%
ATGE	C	-0.07%
NWN	A	-0.07%
PSX	D	-0.07%
NBIX	B	-0.07%
GOOG	A	-0.07%
GD	A	-0.06%
REYN	B	-0.06%
LANC	C	-0.06%
PEP	A	-0.06%
ICE	C	-0.05%
EIG	C	-0.04%
DTE	A	-0.04%
NTCT	F	-0.04%
MSI	B	-0.03%
CMS	A	-0.03%
CARS	D	-0.03%