IWR vs. VFQY ETF Comparison

Comparison of iShares Russell Mid-Cap ETF (IWR) to Vanguard U.S. Quality Factor ETF (VFQY)

IWR

iShares Russell Mid-Cap ETF

IWR Description

The investment seeks to track the investment results of an index composed of mid-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. The underlying index measures the performance of the mid-capitalization sector of the U.S. equity market. The underlying index is a float-adjusted, capitalization-weighted index of the 800 smallest issuers in the Russell 1000Â® Index.

Grade (RS Rating)

Last Trade

$94.53

Average Daily Volume

1,461,787

Number of Holdings ^*

803

* may have additional holdings in another (foreign) market

VFQY

Vanguard U.S. Quality Factor ETF

VFQY Description

The investment seeks to provide long-term capital appreciation by investing in stocks with strong fundamentals 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 strong fundamentals as determined by the advisor. 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

$147.42

Average Daily Volume

11,012

Number of Holdings ^*

386

* may have additional holdings in another (foreign) market

Performance

Period	IWR	VFQY
30 Days	6.87%	4.56%
60 Days	7.84%	3.81%
90 Days	9.96%	4.24%
12 Months	34.02%	27.98%

149 Overlapping Holdings

Symbol	Grade	Weight in IWR	Weight in VFQY	Overlap
A	D	0.31%	0.23%	0.23%
AAP	C	0.02%	0.07%	0.02%
AFL	B	0.51%	0.46%	0.46%
ALGN	D	0.14%	0.05%	0.05%
AMP	A	0.46%	0.57%	0.46%
AOS	F	0.07%	0.28%	0.07%
APPF	B	0.04%	0.24%	0.04%
AVY	D	0.13%	0.26%	0.13%
AYI	B	0.08%	0.53%	0.08%
AZEK	A	0.05%	0.02%	0.02%
BBY	D	0.16%	0.5%	0.16%
BHF	B	0.03%	0.11%	0.03%
BJ	A	0.1%	0.27%	0.1%
BLD	D	0.09%	0.04%	0.04%
BLDR	D	0.17%	0.44%	0.17%
BOKF	B	0.02%	0.14%	0.02%
BPOP	B	0.06%	0.4%	0.06%
BR	A	0.22%	0.26%	0.22%
BRKR	D	0.05%	0.05%	0.05%
BWA	D	0.06%	0.2%	0.06%
CASY	A	0.12%	0.19%	0.12%
CDW	F	0.2%	0.08%	0.08%
CFG	B	0.17%	0.22%	0.17%
CHE	D	0.07%	0.3%	0.07%
CHRW	C	0.11%	0.73%	0.11%
CMI	A	0.41%	0.12%	0.12%
CNM	D	0.07%	0.26%	0.07%
COKE	C	0.06%	0.32%	0.06%
COR	B	0.33%	0.14%	0.14%
CPNG	D	0.23%	0.21%	0.21%
CR	A	0.07%	0.21%	0.07%
CROX	D	0.05%	0.3%	0.05%
CRUS	D	0.04%	0.21%	0.04%
CSL	C	0.17%	0.09%	0.09%
CXT	B	0.02%	0.02%	0.02%
DCI	B	0.08%	0.44%	0.08%
DECK	A	0.22%	0.33%	0.22%
DKS	C	0.09%	0.35%	0.09%
DLTR	F	0.11%	0.29%	0.11%
DUOL	A	0.09%	0.03%	0.03%
DXC	B	0.03%	0.09%	0.03%
EA	A	0.36%	0.29%	0.29%
EBAY	D	0.26%	0.43%	0.26%
ELF	C	0.05%	0.09%	0.05%
EME	C	0.19%	0.08%	0.08%
ENPH	F	0.06%	0.08%	0.06%
EQH	B	0.12%	0.61%	0.12%
EXPD	D	0.14%	0.21%	0.14%
EXPE	B	0.19%	0.38%	0.19%
FAST	B	0.39%	0.55%	0.39%
FBIN	D	0.08%	0.03%	0.03%
FFIV	B	0.11%	0.14%	0.11%
FIX	A	0.13%	0.11%	0.11%
FLO	D	0.03%	0.7%	0.03%
GGG	B	0.12%	0.08%	0.08%
GL	B	0.08%	0.33%	0.08%
GNRC	B	0.09%	0.03%	0.03%
GPC	D	0.14%	0.21%	0.14%
GTLB	B	0.06%	0.13%	0.06%
GWW	B	0.42%	0.35%	0.35%
HAS	D	0.07%	0.25%	0.07%
HIG	B	0.28%	0.26%	0.26%
HOLX	D	0.15%	0.06%	0.06%
HSY	F	0.21%	0.22%	0.21%
IDXX	F	0.29%	0.78%	0.29%
ILMN	D	0.18%	0.16%	0.16%
INCY	C	0.1%	0.11%	0.1%
INGR	B	0.08%	0.15%	0.08%
IT	C	0.32%	0.34%	0.32%
JBL	B	0.12%	0.12%	0.12%
JKHY	D	0.1%	0.16%	0.1%
KD	B	0.05%	0.27%	0.05%
KR	B	0.32%	0.46%	0.32%
KVUE	A	0.38%	0.37%	0.37%
LECO	B	0.09%	0.22%	0.09%
LOPE	B	0.04%	0.2%	0.04%
LPX	B	0.06%	0.33%	0.06%
LSCC	D	0.06%	0.09%	0.06%
LSTR	D	0.05%	0.5%	0.05%
M	D	0.04%	0.24%	0.04%
MAN	D	0.02%	0.1%	0.02%
MANH	D	0.14%	0.33%	0.14%
MASI	A	0.06%	0.05%	0.05%
MAT	D	0.05%	0.4%	0.05%
MEDP	D	0.07%	0.22%	0.07%
MOH	F	0.14%	0.14%	0.14%
MPWR	F	0.22%	0.32%	0.22%
MSA	D	0.05%	0.29%	0.05%
MSM	C	0.03%	0.49%	0.03%
MTG	C	0.05%	0.1%	0.05%
MUSA	A	0.08%	0.06%	0.06%
NTAP	C	0.2%	0.49%	0.2%
NTRS	A	0.18%	0.33%	0.18%
NVR	D	0.21%	0.11%	0.11%
NWL	B	0.03%	0.02%	0.02%
NYT	C	0.07%	0.09%	0.07%
ODFL	B	0.35%	0.1%	0.1%
OLN	D	0.04%	0.06%	0.04%
PAYX	C	0.38%	0.63%	0.38%
PEGA	A	0.03%	0.15%	0.03%
PEN	B	0.07%	0.12%	0.07%
PFGC	B	0.11%	0.1%	0.1%
PII	D	0.03%	0.2%	0.03%
PINS	D	0.14%	0.1%	0.1%
POOL	C	0.11%	0.42%	0.11%
PPG	F	0.24%	0.19%	0.19%
PRI	A	0.09%	0.49%	0.09%
PSTG	D	0.12%	0.16%	0.12%
PVH	C	0.05%	0.17%	0.05%
RHI	B	0.06%	0.44%	0.06%
RL	B	0.07%	0.39%	0.07%
RMD	C	0.28%	0.16%	0.16%
ROK	B	0.27%	0.3%	0.27%
ROKU	D	0.07%	0.19%	0.07%
ROL	B	0.12%	0.17%	0.12%
ROST	C	0.38%	0.08%	0.08%
RPM	A	0.14%	0.47%	0.14%
RS	B	0.15%	0.1%	0.1%
SAM	C	0.02%	0.2%	0.02%
SEIC	B	0.07%	0.08%	0.07%
SKX	D	0.07%	0.27%	0.07%
SLM	A	0.04%	0.47%	0.04%
SN	D	0.06%	0.03%	0.03%
SNA	A	0.15%	0.04%	0.04%
SOLV	C	0.08%	0.09%	0.08%
SSD	D	0.06%	0.33%	0.06%
STLD	B	0.17%	0.06%	0.06%
STT	A	0.24%	0.53%	0.24%
SYF	B	0.21%	0.28%	0.21%
TDC	D	0.02%	0.38%	0.02%
TER	D	0.13%	0.1%	0.1%
TPL	A	0.21%	0.31%	0.21%
TPR	B	0.11%	0.23%	0.11%
TREX	C	0.06%	0.2%	0.06%
TRIP	F	0.01%	0.05%	0.01%
TTC	D	0.07%	0.2%	0.07%
TXG	F	0.01%	0.11%	0.01%
UAA	C	0.02%	0.08%	0.02%
ULTA	F	0.14%	0.24%	0.14%
UTHR	C	0.13%	0.22%	0.13%
VMI	B	0.06%	0.28%	0.06%
VOYA	B	0.07%	0.22%	0.07%
VRT	B	0.36%	0.39%	0.36%
WCC	B	0.07%	0.09%	0.07%
WFRD	D	0.05%	0.22%	0.05%
WMS	D	0.08%	0.2%	0.08%
XRAY	F	0.03%	0.18%	0.03%
YETI	C	0.03%	0.22%	0.03%
ZION	B	0.07%	0.32%	0.07%

IWR Overweight 654 Positions Relative to VFQY

Symbol	Grade	Weight
PLTR	B	1.09%
APP	B	0.63%
WMB	A	0.57%
OKE	A	0.53%
AJG	B	0.52%
COIN	C	0.5%
HLT	A	0.5%
BK	A	0.48%
DLR	B	0.48%
SPG	B	0.48%
URI	B	0.46%
RCL	A	0.45%
KMI	A	0.44%
MSTR	C	0.44%
FICO	B	0.44%
ALL	A	0.43%
TTD	B	0.43%
O	D	0.41%
FIS	C	0.41%
LNG	B	0.4%
VST	B	0.4%
SQ	B	0.39%
PWR	A	0.39%
DHI	D	0.39%
MSCI	C	0.38%
PRU	A	0.38%
LHX	C	0.38%
PEG	A	0.37%
AME	A	0.37%
PCG	A	0.37%
CCI	D	0.37%
HWM	A	0.37%
DFS	B	0.36%
BKR	B	0.35%
AXON	A	0.35%
TRGP	B	0.35%
DAL	C	0.34%
IR	B	0.34%
CBRE	B	0.33%
VRSK	A	0.33%
OTIS	C	0.33%
LEN	D	0.33%
FERG	B	0.33%
HES	B	0.33%
CTSH	B	0.32%
CTVA	C	0.32%
XEL	A	0.32%
EXC	C	0.32%
GEHC	F	0.31%
SYY	B	0.31%
YUM	B	0.31%
DDOG	A	0.31%
HPQ	B	0.3%
CHTR	C	0.3%
ACGL	D	0.3%
VMC	B	0.3%
IQV	D	0.29%
NUE	C	0.29%
GIS	D	0.29%
GLW	B	0.29%
MTB	A	0.29%
MLM	B	0.29%
ED	D	0.28%
IRM	D	0.28%
WAB	B	0.28%
DD	D	0.28%
EXR	D	0.28%
GRMN	B	0.27%
NDAQ	A	0.27%
AVB	B	0.27%
VICI	C	0.27%
HUBS	A	0.27%
HUM	C	0.27%
FANG	D	0.27%
MCHP	D	0.27%
DOW	F	0.26%
WEC	A	0.26%
VEEV	C	0.26%
ETR	B	0.26%
EIX	B	0.26%
WTW	B	0.26%
FITB	A	0.26%
UAL	A	0.25%
CNC	D	0.25%
DXCM	D	0.25%
RJF	A	0.25%
EFX	F	0.25%
ARES	A	0.25%
TTWO	A	0.25%
CSGP	D	0.24%
CAH	B	0.24%
ANSS	B	0.24%
XYL	D	0.24%
GPN	B	0.24%
TSCO	D	0.24%
ALNY	D	0.24%
HPE	B	0.23%
DOV	A	0.23%
EQR	B	0.23%
ON	D	0.23%
HAL	C	0.22%
AWK	D	0.22%
BRO	B	0.22%
FCNCA	A	0.22%
FTV	C	0.22%
PHM	D	0.22%
CHD	B	0.22%
SW	A	0.22%
NET	B	0.22%
PPL	B	0.21%
MTD	D	0.21%
EQT	B	0.21%
TYL	B	0.21%
VLTO	D	0.21%
ADM	D	0.21%
HBAN	A	0.21%
VTR	C	0.21%
GDDY	A	0.21%
RBLX	C	0.21%
TROW	B	0.21%
KEYS	A	0.21%
CVNA	B	0.21%
SBAC	D	0.2%
FE	C	0.2%
DVN	F	0.2%
RF	A	0.2%
CCL	B	0.2%
AEE	A	0.2%
DTE	C	0.2%
CPAY	A	0.2%
PTC	A	0.19%
WY	D	0.19%
WST	C	0.19%
ZBH	C	0.19%
BIIB	F	0.19%
CINF	A	0.19%
LPLA	A	0.19%
HUBB	B	0.19%
ZM	B	0.18%
HOOD	B	0.18%
LYB	F	0.18%
EXE	B	0.18%
STE	F	0.18%
LDOS	C	0.18%
ES	D	0.18%
TDY	B	0.18%
ATO	A	0.18%
MKL	A	0.18%
IFF	D	0.18%
WBD	C	0.18%
FSLR	F	0.17%
CMS	C	0.17%
LYV	A	0.17%
WDC	D	0.17%
INVH	D	0.17%
CLX	B	0.17%
PKG	A	0.17%
CBOE	B	0.17%
WAT	B	0.17%
K	A	0.17%
CTRA	B	0.16%
IBKR	A	0.16%
NRG	B	0.16%
BAH	F	0.16%
ESS	B	0.16%
COO	D	0.16%
LUV	C	0.16%
LII	A	0.16%
CNP	B	0.16%
ZBRA	B	0.16%
MDB	C	0.16%
LH	C	0.16%
DRI	B	0.16%
PFG	D	0.16%
IP	B	0.16%
KEY	B	0.15%
DGX	A	0.15%
WRB	A	0.15%
WSO	A	0.15%
DKNG	B	0.15%
TOST	B	0.15%
TSN	B	0.15%
PODD	C	0.15%
ARE	D	0.15%
MAA	B	0.15%
FDS	B	0.15%
ZS	C	0.15%
TRU	D	0.15%
MKC	D	0.15%
BALL	D	0.15%
OMC	C	0.15%
NI	A	0.14%
KIM	A	0.14%
TWLO	A	0.14%
NTRA	B	0.14%
WSM	B	0.14%
DG	F	0.14%
XPO	B	0.14%
OC	A	0.14%
FWONK	B	0.14%
NTNX	A	0.14%
LVS	C	0.14%
HEI	B	0.14%
BURL	A	0.14%
TRMB	B	0.14%
IEX	B	0.14%
MAS	D	0.14%
J	F	0.14%
PNR	A	0.14%
VTRS	A	0.13%
FNF	B	0.13%
RGA	A	0.13%
VRSN	F	0.13%
DT	C	0.13%
SUI	D	0.13%
TOL	B	0.13%
LNT	A	0.13%
GWRE	A	0.13%
SSNC	B	0.13%
CF	B	0.13%
TXT	D	0.13%
EG	C	0.13%
MRO	B	0.13%
DOCU	A	0.13%
GEN	B	0.13%
BAX	D	0.13%
SOFI	A	0.12%
AVTR	F	0.12%
EVRG	A	0.12%
EWBC	A	0.12%
APTV	D	0.12%
NDSN	B	0.12%
ACM	A	0.12%
UDR	B	0.12%
DOC	D	0.12%
AMCR	D	0.12%
ENTG	D	0.12%
USFD	A	0.12%
THC	D	0.12%
DPZ	C	0.12%
JBHT	C	0.12%
TW	A	0.12%
L	A	0.12%
GLPI	C	0.11%
JEF	A	0.11%
AFRM	B	0.11%
EPAM	C	0.11%
ELS	C	0.11%
SWK	D	0.11%
AKAM	D	0.11%
TXRH	C	0.11%
RNR	C	0.11%
SWKS	F	0.11%
RVTY	F	0.11%
REG	B	0.11%
CW	B	0.11%
SAIA	B	0.11%
BWXT	B	0.1%
OVV	B	0.1%
Z	A	0.1%
UHS	D	0.1%
UNM	A	0.1%
NBIX	C	0.1%
OKTA	C	0.1%
EMN	D	0.1%
JNPR	F	0.1%
HEI	B	0.1%
NVT	B	0.1%
BMRN	D	0.1%
SCI	B	0.1%
FTI	A	0.1%
HST	C	0.1%
WPC	D	0.1%
ALB	C	0.1%
ALLE	D	0.1%
KMX	B	0.1%
BXP	D	0.1%
CPT	B	0.1%
JLL	D	0.1%
ITT	A	0.1%
COHR	B	0.1%
CLH	B	0.1%
CAG	D	0.1%
BG	F	0.1%
AMH	D	0.1%
WBS	A	0.09%
CACI	D	0.09%
PNW	B	0.09%
FOXA	B	0.09%
TECH	D	0.09%
CCK	C	0.09%
CTLT	B	0.09%
CAVA	B	0.09%
EVR	B	0.09%
FND	C	0.09%
CUBE	D	0.09%
LW	C	0.09%
NWSA	B	0.09%
LAMR	D	0.09%
TAP	C	0.09%
SJM	D	0.09%
ATR	B	0.09%
CG	A	0.09%
TTEK	F	0.09%
AA	B	0.09%
FHN	A	0.09%
PAYC	B	0.09%
DAY	B	0.09%
RRX	B	0.09%
NCLH	B	0.09%
OWL	A	0.09%
AIZ	A	0.09%
SF	B	0.09%
TFX	F	0.08%
AAON	B	0.08%
TPX	B	0.08%
GMED	A	0.08%
SMCI	F	0.08%
RGLD	C	0.08%
WYNN	D	0.08%
WING	D	0.08%
ORI	A	0.08%
FRT	B	0.08%
BRBR	A	0.08%
TKO	B	0.08%
SRPT	D	0.08%
PNFP	B	0.08%
AAL	B	0.08%
CRL	C	0.08%
CNH	C	0.08%
DOX	D	0.08%
CIEN	B	0.08%
MKTX	D	0.08%
PR	B	0.08%
HLI	B	0.08%
WTRG	B	0.08%
WAL	B	0.08%
CHDN	B	0.08%
LBRDK	C	0.08%
ARMK	B	0.08%
EHC	B	0.08%
DTM	B	0.08%
NLY	C	0.08%
OHI	C	0.08%
AFG	A	0.08%
ALLY	C	0.08%
AES	F	0.08%
EXEL	B	0.08%
GME	C	0.08%
LKQ	D	0.08%
EXP	A	0.08%
RPRX	D	0.08%
LAD	A	0.08%
IPG	D	0.08%
ALSN	B	0.08%
WWD	B	0.08%
KNSL	B	0.08%
CHRD	D	0.07%
MTCH	D	0.07%
RRC	B	0.07%
ACI	C	0.07%
X	C	0.07%
CZR	F	0.07%
SNV	B	0.07%
APG	B	0.07%
CE	F	0.07%
DVA	B	0.07%
APA	D	0.07%
CFR	B	0.07%
PLNT	A	0.07%
CPB	D	0.07%
RIVN	F	0.07%
EGP	F	0.07%
HRB	D	0.07%
GPK	C	0.07%
MOS	F	0.07%
LNW	D	0.07%
HRL	D	0.07%
MTZ	B	0.07%
GLOB	B	0.07%
WTFC	A	0.07%
CBSH	A	0.07%
OGE	B	0.07%
ITCI	C	0.07%
FYBR	D	0.07%
BILL	A	0.07%
CMA	A	0.07%
BRX	A	0.07%
MGM	D	0.07%
SNX	C	0.07%
PCTY	B	0.07%
KNX	B	0.07%
HSIC	B	0.07%
AR	B	0.07%
AXTA	A	0.07%
RBC	A	0.07%
EXAS	D	0.07%
MORN	B	0.07%
REXR	F	0.07%
AWI	A	0.06%
MTN	C	0.06%
H	B	0.06%
CFLT	B	0.06%
AXS	A	0.06%
MTDR	B	0.06%
FMC	D	0.06%
DAR	C	0.06%
ALK	C	0.06%
CGNX	C	0.06%
FCN	D	0.06%
MTSI	B	0.06%
ELAN	D	0.06%
R	B	0.06%
GXO	B	0.06%
FR	C	0.06%
ATI	D	0.06%
FRPT	B	0.06%
RGEN	D	0.06%
GNTX	C	0.06%
VFC	C	0.06%
ESTC	C	0.06%
ESAB	B	0.06%
MKSI	C	0.06%
AGNC	D	0.06%
BBWI	D	0.06%
OSK	B	0.06%
VNO	B	0.06%
S	B	0.06%
MIDD	C	0.06%
CART	C	0.06%
RLI	B	0.06%
RYAN	B	0.06%
WEX	D	0.06%
PCOR	B	0.06%
PB	A	0.06%
MHK	D	0.06%
WH	B	0.06%
KEX	C	0.06%
SMAR	A	0.06%
JAZZ	B	0.06%
ADC	B	0.06%
OLED	D	0.06%
HII	D	0.06%
NNN	D	0.06%
BERY	B	0.06%
ONTO	D	0.06%
FLS	B	0.06%
KBR	F	0.06%
G	B	0.06%
LITE	B	0.05%
RITM	C	0.05%
VVV	F	0.05%
PATH	C	0.05%
NFG	A	0.05%
THO	B	0.05%
OLLI	D	0.05%
FOX	A	0.05%
JHG	A	0.05%
ETSY	D	0.05%
AGCO	D	0.05%
THG	A	0.05%
VNT	B	0.05%
AMG	B	0.05%
LFUS	F	0.05%
FNB	A	0.05%
IDA	A	0.05%
WHR	B	0.05%
LAZ	B	0.05%
FOUR	B	0.05%
BFAM	D	0.05%
WBA	F	0.05%
DOCS	C	0.05%
STWD	C	0.05%
ARW	D	0.05%
UHAL	D	0.05%
BEN	C	0.05%
BIO	D	0.05%
QRVO	F	0.05%
COLD	D	0.05%
SITE	D	0.05%
OMF	A	0.05%
ESI	A	0.05%
SIRI	C	0.05%
SAIC	F	0.05%
NOV	C	0.05%
WSC	D	0.05%
IVZ	B	0.05%
PARA	C	0.05%
COLB	A	0.05%
BSY	D	0.05%
DBX	B	0.05%
FAF	A	0.05%
STAG	F	0.05%
LYFT	C	0.05%
HR	C	0.05%
DINO	D	0.05%
AZPN	A	0.05%
GAP	C	0.04%
KMPR	B	0.04%
RYN	D	0.04%
EEFT	B	0.04%
PSN	D	0.04%
SLGN	A	0.04%
CELH	F	0.04%
KRC	C	0.04%
SEE	C	0.04%
CUZ	B	0.04%
RH	B	0.04%
AGO	B	0.04%
FIVE	F	0.04%
ST	F	0.04%
HCP	B	0.04%
ROIV	C	0.04%
AVT	C	0.04%
WTM	A	0.04%
HXL	D	0.04%
TKR	D	0.04%
SON	D	0.04%
BYD	C	0.04%
NXST	C	0.04%
INSP	D	0.04%
UGI	A	0.04%
AL	B	0.04%
BROS	B	0.04%
CIVI	D	0.04%
OZK	B	0.04%
AM	A	0.04%
VNOM	A	0.04%
U	C	0.04%
VKTX	F	0.04%
POST	C	0.04%
LNC	B	0.04%
CLF	F	0.04%
CCCS	B	0.04%
LEA	D	0.04%
IONS	F	0.04%
TPG	A	0.04%
BC	C	0.04%
WEN	D	0.03%
AMTM	D	0.03%
SMG	D	0.03%
PENN	C	0.03%
VAC	B	0.03%
ZI	D	0.03%
HUN	F	0.03%
NCNO	B	0.03%
IRDM	D	0.03%
EPR	D	0.03%
ZG	A	0.03%
HIW	D	0.03%
ACHC	F	0.03%
FHB	A	0.03%
IAC	D	0.03%
NVST	B	0.03%
SPR	D	0.03%
W	F	0.03%
TNL	A	0.03%
NWS	B	0.03%
PRGO	B	0.03%
DNB	B	0.03%
MDU	D	0.03%
NEU	C	0.03%
ASH	D	0.03%
OGN	D	0.03%
LINE	F	0.03%
HOG	D	0.03%
RARE	D	0.03%
CHH	A	0.03%
GFS	C	0.03%
MSGS	A	0.03%
GTES	A	0.03%
AN	C	0.03%
DLB	B	0.03%
WLK	D	0.03%
VSTS	C	0.02%
CRI	D	0.02%
ALAB	B	0.02%
RKT	F	0.02%
QDEL	F	0.02%
LBTYK	A	0.02%
INFA	D	0.02%
LBTYA	B	0.02%
IPGP	D	0.02%
LCID	F	0.02%
KSS	F	0.02%
SHC	F	0.02%
PPC	C	0.02%
ADT	C	0.02%
AZTA	D	0.02%
RCM	F	0.02%
HAYW	B	0.02%
CWEN	C	0.02%
JWN	C	0.02%
PINC	B	0.02%
ALGM	D	0.02%
CPRI	F	0.02%
SPB	C	0.02%
MP	B	0.02%
HHH	B	0.02%
ENOV	C	0.02%
MPW	F	0.02%
AGR	B	0.02%
WU	D	0.02%
APLS	D	0.02%
COTY	F	0.02%
CACC	D	0.02%
DV	C	0.02%
FIVN	C	0.02%
COLM	B	0.02%
VIRT	B	0.02%
CC	C	0.02%
AMKR	D	0.02%
ECG	C	0.02%
AMED	F	0.02%
PAG	B	0.02%
RNG	B	0.02%
SNRE	D	0.02%
NSA	D	0.02%
LLYVK	A	0.02%
PK	B	0.02%
UWMC	D	0.01%
PLTK	B	0.01%
SEB	F	0.01%
TFSL	A	0.01%
WOLF	F	0.01%
LOAR	A	0.01%
CWEN	C	0.01%
CNA	B	0.01%
AS	B	0.01%
CERT	F	0.01%
PYCR	C	0.01%
DDS	B	0.01%
LLYVA	A	0.01%
UI	A	0.01%
SNDR	B	0.01%
REYN	D	0.01%
LBRDA	C	0.01%
LEG	F	0.01%
DJT	C	0.01%
GO	C	0.01%
QS	F	0.01%
CAR	C	0.01%
FTRE	D	0.01%
FWONA	B	0.01%
UA	C	0.01%
CLVT	F	0.01%
LEN	D	0.01%
BIRK	D	0.01%
CNXC	F	0.01%
PARAA	B	0.0%
SEG	B	0.0%
GRAL	C	0.0%
UHAL	D	0.0%
NFE	D	0.0%

IWR Underweight 237 Positions Relative to VFQY

Symbol	Grade	Weight
NKE	D	-2.14%
GILD	C	-2.1%
MMM	D	-2.1%
AAPL	C	-2.03%
TGT	F	-1.91%
QCOM	F	-1.88%
LULU	C	-1.81%
WMT	A	-1.74%
TJX	A	-1.74%
MRK	F	-1.69%
KLAC	D	-1.63%
KMB	D	-1.62%
ADBE	C	-1.6%
CTAS	B	-1.58%
PEP	F	-1.54%
JNJ	D	-1.38%
AXP	A	-1.37%
PYPL	B	-1.29%
COST	B	-1.16%
AMZN	C	-1.12%
META	D	-1.0%
NVDA	C	-0.53%
AMAT	F	-0.49%
CVLT	B	-0.49%
FBP	B	-0.48%
AIG	B	-0.44%
ALKS	B	-0.43%
CNO	A	-0.39%
TBBK	B	-0.37%
LNTH	D	-0.37%
AX	A	-0.37%
CAT	B	-0.36%
CASH	A	-0.36%
ANF	C	-0.36%
ECL	D	-0.34%
OFG	B	-0.34%
UFPI	B	-0.33%
WLY	B	-0.32%
QLYS	C	-0.32%
BFH	B	-0.32%
WSFS	A	-0.31%
EL	F	-0.3%
AEO	F	-0.29%
JXN	C	-0.29%
CDNS	B	-0.28%
LMB	A	-0.28%
APOG	B	-0.27%
NTB	B	-0.26%
ADSK	A	-0.26%
AIT	A	-0.24%
LLY	F	-0.24%
BBW	B	-0.24%
NUS	D	-0.23%
YOU	D	-0.22%
BLBD	D	-0.22%
SHOO	D	-0.21%
MLI	C	-0.21%
KFRC	D	-0.2%
WDFC	B	-0.2%
IESC	B	-0.19%
CRVL	A	-0.19%
PJT	A	-0.19%
BBSI	B	-0.18%
ASO	F	-0.18%
TNET	D	-0.18%
TK	D	-0.17%
EXTR	B	-0.17%
EPAC	B	-0.17%
CHCO	B	-0.17%
NMIH	D	-0.17%
CSWI	A	-0.17%
BCC	B	-0.16%
IDT	B	-0.16%
PLMR	B	-0.16%
TDOC	C	-0.16%
MA	C	-0.16%
GOOGL	C	-0.16%
SONO	C	-0.16%
ADP	B	-0.16%
MPC	D	-0.15%
SCS	C	-0.15%
NSP	D	-0.15%
BXC	B	-0.15%
WTS	B	-0.15%
PLAB	C	-0.15%
FIZZ	C	-0.15%
WHD	B	-0.14%
HCKT	B	-0.14%
GMS	B	-0.14%
HWKN	B	-0.14%
EOG	A	-0.14%
BELFB	C	-0.13%
PRDO	B	-0.13%
JBSS	D	-0.13%
YELP	C	-0.13%
FC	F	-0.13%
HNI	B	-0.13%
GIII	D	-0.13%
FELE	B	-0.13%
CHGG	D	-0.13%
AON	A	-0.13%
CCRN	F	-0.12%
SLVM	B	-0.12%
PDCO	D	-0.12%
CSGS	B	-0.12%
CPF	A	-0.12%
INDB	B	-0.12%
TILE	B	-0.12%
ATEN	B	-0.12%
WABC	B	-0.12%
XP	F	-0.12%
UVE	B	-0.11%
CEIX	A	-0.11%
CATY	B	-0.11%
PCRX	C	-0.11%
BKE	B	-0.11%
CAL	D	-0.11%
STRL	B	-0.11%
CUBI	C	-0.11%
PRMW	C	-0.11%
DFIN	D	-0.1%
MCRI	A	-0.1%
THRY	F	-0.1%
LANC	C	-0.1%
MBUU	C	-0.1%
SPTN	D	-0.1%
SRCE	B	-0.1%
ACAD	D	-0.1%
LCII	C	-0.1%
MRC	B	-0.1%
KAI	A	-0.1%
SUPN	C	-0.09%
BHLB	B	-0.09%
RSI	B	-0.09%
PSMT	C	-0.09%
TCBI	B	-0.09%
SPOT	B	-0.09%
OXM	D	-0.09%
CBU	B	-0.09%
LZB	B	-0.09%
SFIX	B	-0.08%
CRCT	F	-0.08%
ETD	C	-0.08%
ARLO	C	-0.08%
MLKN	D	-0.08%
CVBF	A	-0.08%
CDRE	D	-0.08%
SM	B	-0.08%
AMSF	B	-0.08%
EGY	D	-0.08%
SBSI	B	-0.07%
ANIP	F	-0.07%
MCO	B	-0.07%
AMAL	B	-0.07%
ACT	D	-0.07%
CDNA	D	-0.07%
EYE	C	-0.07%
YEXT	A	-0.07%
VRTS	B	-0.07%
PRLB	A	-0.07%
IOSP	B	-0.07%
CNXN	C	-0.07%
ASC	F	-0.07%
BMI	B	-0.07%
CARG	C	-0.07%
GCO	B	-0.07%
DHIL	A	-0.07%
ODP	F	-0.07%
ZEUS	C	-0.06%
APAM	B	-0.06%
LYTS	B	-0.06%
NSSC	D	-0.06%
CRAI	B	-0.06%
FULT	A	-0.06%
MMS	F	-0.06%
USNA	C	-0.06%
MYGN	F	-0.06%
DAKT	B	-0.06%
EVER	F	-0.06%
AVAV	D	-0.06%
PG	A	-0.06%
POWL	C	-0.06%
RDN	C	-0.06%
ACCO	C	-0.05%
OSUR	F	-0.05%
ICFI	F	-0.05%
HVT	D	-0.05%
WTTR	B	-0.05%
VITL	D	-0.05%
IMKTA	C	-0.05%
TTI	C	-0.05%
SCHL	D	-0.04%
ORGO	B	-0.04%
TH	C	-0.04%
EXLS	B	-0.04%
CPRX	C	-0.04%
UTI	A	-0.04%
MCFT	B	-0.04%
HY	D	-0.04%
AMR	C	-0.04%
LQDT	B	-0.04%
GOLF	B	-0.04%
REVG	B	-0.04%
SXI	B	-0.04%
HAE	C	-0.04%
MBIN	D	-0.04%
HNST	B	-0.04%
OEC	C	-0.04%
CTS	C	-0.04%
TNK	F	-0.04%
KELYA	F	-0.03%
TNC	D	-0.03%
SXC	A	-0.03%
MOV	C	-0.03%
HAFC	A	-0.03%
BECN	B	-0.03%
OII	B	-0.03%
BKNG	A	-0.03%
MLAB	D	-0.03%
UPBD	B	-0.03%
ANGO	D	-0.03%
UDMY	F	-0.03%
GPRO	F	-0.03%
TBI	F	-0.03%
MYE	F	-0.03%
PFBC	B	-0.02%
TCBK	B	-0.02%
PLOW	D	-0.02%
INGN	C	-0.02%
ATKR	C	-0.02%
COUR	F	-0.02%
KRNY	B	-0.02%
EGBN	B	-0.02%
RYI	C	-0.02%
RGP	F	-0.02%
TCMD	A	-0.02%
LKFN	B	-0.02%