IWR vs. VO ETF Comparison

Comparison of iShares Russell Mid-Cap ETF (IWR) to Vanguard Mid-Cap ETF - DNQ (VO)

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 1000® Index.

Grade (RS Rating)

Last Trade

$95.68

Average Daily Volume

1,461,787

Number of Holdings ^*

803

* may have additional holdings in another (foreign) market

VO

Vanguard Mid-Cap ETF - DNQ

VO Description

The investment seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization stocks. The fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Index, a broadly diversified index of stocks of mid-size U.S. companies. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Grade (RS Rating)

Last Trade

$284.45

Average Daily Volume

578,616

Number of Holdings ^*

306

* may have additional holdings in another (foreign) market

Performance

Period	IWR	VO
30 Days	6.87%	5.97%
60 Days	7.84%	7.54%
90 Days	9.96%	10.26%
12 Months	34.02%	32.89%

280 Overlapping Holdings

	Symbol	Grade	Weight in IWR	Weight in VO	Overlap
	A	D	0.31%	0.46%	0.31%
	ACGL	D	0.3%	0.43%	0.3%
	ADM	D	0.21%	0.32%	0.21%
	AEE	A	0.2%	0.28%	0.2%
	AGR	B	0.02%	0.03%	0.02%
	AJG	B	0.52%	0.75%	0.52%
	AKAM	D	0.11%	0.19%	0.11%
	ALB	C	0.1%	0.07%	0.07%
	ALGN	D	0.14%	0.18%	0.14%
	ALL	A	0.43%	0.6%	0.43%
	ALNY	D	0.24%	0.42%	0.24%
	AME	A	0.37%	0.51%	0.37%
	AMP	A	0.46%	0.61%	0.46%
	ANSS	B	0.24%	0.34%	0.24%
	APP	B	0.63%	0.23%	0.23%
	APTV	D	0.12%	0.18%	0.12%
	ARE	D	0.15%	0.24%	0.15%
	ARES	A	0.25%	0.36%	0.25%
	AVB	B	0.27%	0.38%	0.27%
	AVTR	F	0.12%	0.18%	0.12%
	AVY	D	0.13%	0.2%	0.13%
	AWK	D	0.22%	0.33%	0.22%
	BALL	D	0.15%	0.22%	0.15%
	BAX	D	0.13%	0.22%	0.13%
	BBY	D	0.16%	0.21%	0.16%
	BEN	C	0.05%	0.04%	0.04%
	BIIB	F	0.19%	0.31%	0.19%
	BKR	B	0.35%	0.46%	0.35%
	BMRN	D	0.1%	0.15%	0.1%
	BR	A	0.22%	0.3%	0.22%
	BRO	B	0.22%	0.29%	0.22%
	BSY	D	0.05%	0.09%	0.05%
	BURL	A	0.14%	0.19%	0.14%
	CAG	D	0.1%	0.17%	0.1%
	CAH	B	0.24%	0.32%	0.24%
	CBOE	B	0.17%	0.27%	0.17%
	CBRE	B	0.33%	0.49%	0.33%
	CCL	B	0.2%	0.25%	0.2%
	CDW	F	0.2%	0.3%	0.2%
	CE	F	0.07%	0.17%	0.07%
	CF	B	0.13%	0.18%	0.13%
	CFG	B	0.17%	0.22%	0.17%
	CHD	B	0.22%	0.3%	0.22%
	CINF	A	0.19%	0.27%	0.19%
	CLX	B	0.17%	0.24%	0.17%
	CMI	A	0.41%	0.55%	0.41%
	CMS	C	0.17%	0.25%	0.17%
	CNC	D	0.25%	0.4%	0.25%
	CNP	B	0.16%	0.23%	0.16%
	COIN	C	0.5%	0.38%	0.38%
	COR	B	0.33%	0.49%	0.33%
	CPAY	A	0.2%	0.26%	0.2%
	CPB	D	0.07%	0.11%	0.07%
	CSGP	D	0.24%	0.36%	0.24%
	CTRA	B	0.16%	0.2%	0.16%
	CTSH	B	0.32%	0.45%	0.32%
	CTVA	C	0.32%	0.51%	0.32%
	CVNA	B	0.21%	0.18%	0.18%
	DAL	C	0.34%	0.45%	0.34%
	DD	D	0.28%	0.38%	0.28%
	DDOG	A	0.31%	0.45%	0.31%
	DFS	B	0.36%	0.45%	0.36%
	DG	F	0.14%	0.21%	0.14%
	DGX	A	0.15%	0.21%	0.15%
	DHI	D	0.39%	0.6%	0.39%
	DLR	B	0.48%	0.71%	0.48%
	DLTR	F	0.11%	0.16%	0.11%
	DOC	D	0.12%	0.1%	0.1%
	DOV	A	0.23%	0.32%	0.23%
	DOW	F	0.26%	0.42%	0.26%
	DPZ	C	0.12%	0.18%	0.12%
	DRI	B	0.16%	0.23%	0.16%
	DTE	C	0.2%	0.27%	0.2%
	DVN	F	0.2%	0.29%	0.2%
	DXCM	D	0.25%	0.34%	0.25%
	EA	A	0.36%	0.48%	0.36%
	EBAY	D	0.26%	0.34%	0.26%
	ED	D	0.28%	0.43%	0.28%
	EFX	F	0.25%	0.4%	0.25%
	EG	C	0.13%	0.19%	0.13%
	EIX	B	0.26%	0.38%	0.26%
	ENPH	F	0.06%	0.13%	0.06%
	EQR	B	0.23%	0.31%	0.23%
	EQT	B	0.21%	0.13%	0.13%
	ES	D	0.18%	0.29%	0.18%
	ESS	B	0.16%	0.22%	0.16%
	ETR	B	0.26%	0.4%	0.26%
	EVRG	A	0.12%	0.08%	0.08%
	EXC	C	0.32%	0.48%	0.32%
	EXPD	D	0.14%	0.2%	0.14%
	EXPE	B	0.19%	0.24%	0.19%
	EXR	D	0.28%	0.42%	0.28%
	FANG	D	0.27%	0.41%	0.27%
	FAST	B	0.39%	0.54%	0.39%
	FDS	B	0.15%	0.21%	0.15%
	FE	C	0.2%	0.28%	0.2%
	FICO	B	0.44%	0.56%	0.44%
	FIS	C	0.41%	0.59%	0.41%
	FITB	A	0.26%	0.36%	0.26%
	FNF	B	0.13%	0.19%	0.13%
	FOX	A	0.05%	0.05%	0.05%
	FOXA	B	0.09%	0.12%	0.09%
	FSLR	F	0.17%	0.24%	0.17%
	FTV	C	0.22%	0.3%	0.22%
	GDDY	A	0.21%	0.29%	0.21%
	GEHC	F	0.31%	0.46%	0.31%
	GEN	B	0.13%	0.18%	0.13%
	GIS	D	0.29%	0.46%	0.29%
	GLW	B	0.29%	0.44%	0.29%
	GPC	D	0.14%	0.19%	0.14%
	GPN	B	0.24%	0.26%	0.24%
	GRMN	B	0.27%	0.37%	0.27%
	GWW	B	0.42%	0.59%	0.42%
	HAL	C	0.22%	0.27%	0.22%
	HBAN	A	0.21%	0.27%	0.21%
	HEI	B	0.14%	0.12%	0.12%
	HEI	B	0.1%	0.12%	0.1%
	HEI	B	0.14%	0.18%	0.14%
	HEI	B	0.1%	0.18%	0.1%
	HES	B	0.33%	0.45%	0.33%
	HIG	B	0.28%	0.39%	0.28%
	HLT	A	0.5%	0.35%	0.35%
	HOLX	D	0.15%	0.23%	0.15%
	HPE	B	0.23%	0.31%	0.23%
	HPQ	B	0.3%	0.42%	0.3%
	HRL	D	0.07%	0.11%	0.07%
	HSY	F	0.21%	0.32%	0.21%
	HUBB	B	0.19%	0.14%	0.14%
	HUBS	A	0.27%	0.33%	0.27%
	HWM	A	0.37%	0.49%	0.37%
	IBKR	A	0.16%	0.19%	0.16%
	IDXX	F	0.29%	0.41%	0.29%
	IFF	D	0.18%	0.31%	0.18%
	ILMN	D	0.18%	0.28%	0.18%
	INCY	C	0.1%	0.07%	0.07%
	INVH	D	0.17%	0.22%	0.17%
	IP	B	0.16%	0.23%	0.16%
	IQV	D	0.29%	0.43%	0.29%
	IR	B	0.34%	0.47%	0.34%
	IRM	D	0.28%	0.44%	0.28%
	IT	C	0.32%	0.45%	0.32%
	J	F	0.14%	0.21%	0.14%
	JBHT	C	0.12%	0.18%	0.12%
	K	A	0.17%	0.27%	0.17%
	KEY	B	0.15%	0.19%	0.15%
	KEYS	A	0.21%	0.32%	0.21%
	KMI	A	0.44%	0.28%	0.28%
	KR	B	0.32%	0.44%	0.32%
	KVUE	A	0.38%	0.53%	0.38%
	L	A	0.12%	0.18%	0.12%
	LDOS	C	0.18%	0.15%	0.15%
	LEN	D	0.01%	0.5%	0.01%
	LEN	D	0.01%	0.02%	0.01%
	LEN	D	0.33%	0.5%	0.33%
	LEN	D	0.33%	0.02%	0.02%
	LH	C	0.16%	0.23%	0.16%
	LHX	C	0.38%	0.57%	0.38%
	LNG	B	0.4%	0.5%	0.4%
	LNT	A	0.13%	0.19%	0.13%
	LPLA	A	0.19%	0.26%	0.19%
	LUV	C	0.16%	0.22%	0.16%
	LVS	C	0.14%	0.23%	0.14%
	LYB	F	0.18%	0.27%	0.18%
	LYV	A	0.17%	0.23%	0.17%
	MAA	B	0.15%	0.21%	0.15%
	MAS	D	0.14%	0.21%	0.14%
	MCHP	D	0.27%	0.48%	0.27%
	MDB	C	0.16%	0.23%	0.16%
	MGM	D	0.07%	0.05%	0.05%
	MKC	D	0.15%	0.24%	0.15%
	MKL	A	0.18%	0.23%	0.18%
	MLM	B	0.29%	0.44%	0.29%
	MOH	F	0.14%	0.22%	0.14%
	MPWR	F	0.22%	0.43%	0.22%
	MRO	B	0.13%	0.19%	0.13%
	MSCI	C	0.38%	0.52%	0.38%
	MSTR	C	0.44%	0.26%	0.26%
	MTB	A	0.29%	0.39%	0.29%
	MTD	D	0.21%	0.33%	0.21%
	NDAQ	A	0.27%	0.41%	0.27%
	NET	B	0.22%	0.31%	0.22%
	NI	A	0.14%	0.1%	0.1%
	NTAP	C	0.2%	0.29%	0.2%
	NTRS	A	0.18%	0.23%	0.18%
	NUE	C	0.29%	0.41%	0.29%
	NVR	D	0.21%	0.32%	0.21%
	NWS	B	0.03%	0.01%	0.01%
	NWSA	B	0.09%	0.16%	0.09%
	O	D	0.41%	0.63%	0.41%
	ODFL	B	0.35%	0.47%	0.35%
	OKE	A	0.53%	0.69%	0.53%
	OKTA	C	0.1%	0.14%	0.1%
	OMC	C	0.15%	0.24%	0.15%
	ON	D	0.23%	0.37%	0.23%
	OTIS	C	0.33%	0.48%	0.33%
	PCG	A	0.37%	0.51%	0.37%
	PEG	A	0.37%	0.54%	0.37%
	PFG	D	0.16%	0.23%	0.16%
	PHM	D	0.22%	0.33%	0.22%
	PINS	D	0.14%	0.23%	0.14%
	PKG	A	0.17%	0.25%	0.17%
	PLTR	B	1.09%	1.02%	1.02%
	PODD	C	0.15%	0.1%	0.1%
	POOL	C	0.11%	0.08%	0.08%
	PPG	F	0.24%	0.35%	0.24%
	PPL	B	0.21%	0.28%	0.21%
	PRU	A	0.38%	0.53%	0.38%
	PWR	A	0.39%	0.54%	0.39%
	RBLX	C	0.21%	0.34%	0.21%
	RCL	A	0.45%	0.55%	0.45%
	RF	A	0.2%	0.26%	0.2%
	RJF	A	0.25%	0.33%	0.25%
	RKT	F	0.02%	0.03%	0.02%
	RMD	C	0.28%	0.43%	0.28%
	ROK	B	0.27%	0.37%	0.27%
	ROL	B	0.12%	0.17%	0.12%
	RPRX	D	0.08%	0.12%	0.08%
	RVTY	F	0.11%	0.18%	0.11%
	SBAC	D	0.2%	0.3%	0.2%
	SMCI	F	0.08%	0.18%	0.08%
	SNA	A	0.15%	0.21%	0.15%
	SPG	B	0.48%	0.32%	0.32%
	SQ	B	0.39%	0.49%	0.39%
	SSNC	B	0.13%	0.18%	0.13%
	STE	F	0.18%	0.27%	0.18%
	STLD	B	0.17%	0.12%	0.12%
	STT	A	0.24%	0.32%	0.24%
	SUI	D	0.13%	0.2%	0.13%
	SWK	D	0.11%	0.17%	0.11%
	SWKS	F	0.11%	0.17%	0.11%
	SYF	B	0.21%	0.26%	0.21%
	SYY	B	0.31%	0.45%	0.31%
	TDY	B	0.18%	0.26%	0.18%
	TER	D	0.13%	0.21%	0.13%
	TPL	A	0.21%	0.14%	0.14%
	TRGP	B	0.35%	0.22%	0.22%
	TRMB	B	0.14%	0.18%	0.14%
	TROW	B	0.21%	0.3%	0.21%
	TRU	D	0.15%	0.24%	0.15%
	TSCO	D	0.24%	0.35%	0.24%
	TSN	B	0.15%	0.2%	0.15%
	TTD	B	0.43%	0.63%	0.43%
	TTWO	A	0.25%	0.33%	0.25%
	TW	A	0.12%	0.18%	0.12%
	TXT	D	0.13%	0.18%	0.13%
	TYL	B	0.21%	0.31%	0.21%
	UAL	A	0.25%	0.31%	0.25%
	UDR	B	0.12%	0.08%	0.08%
	ULTA	F	0.14%	0.21%	0.14%
	URI	B	0.46%	0.65%	0.46%
	VEEV	C	0.26%	0.37%	0.26%
	VICI	C	0.27%	0.36%	0.27%
	VLTO	D	0.21%	0.29%	0.21%
	VMC	B	0.3%	0.44%	0.3%
	VRSK	A	0.33%	0.47%	0.33%
	VRSN	F	0.13%	0.18%	0.13%
	VRT	B	0.36%	0.47%	0.36%
	VST	B	0.4%	0.52%	0.4%
	VTR	C	0.21%	0.33%	0.21%
	VTRS	A	0.13%	0.17%	0.13%
	WAB	B	0.28%	0.4%	0.28%
	WAT	B	0.17%	0.23%	0.17%
	WBA	F	0.05%	0.04%	0.04%
	WBD	C	0.18%	0.22%	0.18%
	WDC	D	0.17%	0.27%	0.17%
	WEC	A	0.26%	0.37%	0.26%
	WLK	D	0.03%	0.03%	0.03%
	WMB	A	0.57%	0.39%	0.39%
	WPC	D	0.1%	0.15%	0.1%
	WRB	A	0.15%	0.2%	0.15%
	WST	C	0.19%	0.27%	0.19%
	WTW	B	0.26%	0.37%	0.26%
	WY	D	0.19%	0.27%	0.19%
	XEL	A	0.32%	0.45%	0.32%
	XYL	D	0.24%	0.36%	0.24%
	YUM	B	0.31%	0.45%	0.31%
	ZBH	C	0.19%	0.26%	0.19%
	ZBRA	B	0.16%	0.24%	0.16%
	ZM	B	0.18%	0.21%	0.18%
	ZS	C	0.15%	0.2%	0.15%

IWR Overweight 527 Positions Relative to VO

	Symbol	Grade	Weight
	AFL	B	0.51%
	BK	A	0.48%
	PAYX	C	0.38%
	ROST	C	0.38%
	CCI	D	0.37%
	AXON	A	0.35%
	FERG	B	0.33%
	CHTR	C	0.3%
	HUM	C	0.27%
	CPNG	D	0.23%
	FCNCA	A	0.22%
	SW	A	0.22%
	DECK	A	0.22%
	PTC	A	0.19%
	EME	C	0.19%
	HOOD	B	0.18%
	EXE	B	0.18%
	ATO	A	0.18%
	CSL	C	0.17%
	BLDR	D	0.17%
	NRG	B	0.16%
	BAH	F	0.16%
	COO	D	0.16%
	LII	A	0.16%
	RS	B	0.15%
	WSO	A	0.15%
	DKNG	B	0.15%
	TOST	B	0.15%
	KIM	A	0.14%
	TWLO	A	0.14%
	NTRA	B	0.14%
	WSM	B	0.14%
	XPO	B	0.14%
	MANH	D	0.14%
	OC	A	0.14%
	FWONK	B	0.14%
	NTNX	A	0.14%
	RPM	A	0.14%
	IEX	B	0.14%
	PNR	A	0.14%
	RGA	A	0.13%
	DT	C	0.13%
	TOL	B	0.13%
	FIX	A	0.13%
	GWRE	A	0.13%
	UTHR	C	0.13%
	DOCU	A	0.13%
	SOFI	A	0.12%
	EQH	B	0.12%
	JBL	B	0.12%
	EWBC	A	0.12%
	NDSN	B	0.12%
	ACM	A	0.12%
	AMCR	D	0.12%
	ENTG	D	0.12%
	USFD	A	0.12%
	THC	D	0.12%
	PSTG	D	0.12%
	CASY	A	0.12%
	GGG	B	0.12%
	PFGC	B	0.11%
	CHRW	C	0.11%
	GLPI	C	0.11%
	JEF	A	0.11%
	AFRM	B	0.11%
	EPAM	C	0.11%
	ELS	C	0.11%
	TPR	B	0.11%
	TXRH	C	0.11%
	RNR	C	0.11%
	REG	B	0.11%
	CW	B	0.11%
	SAIA	B	0.11%
	FFIV	B	0.11%
	BJ	A	0.1%
	BWXT	B	0.1%
	OVV	B	0.1%
	Z	A	0.1%
	UHS	D	0.1%
	UNM	A	0.1%
	NBIX	C	0.1%
	EMN	D	0.1%
	JNPR	F	0.1%
	NVT	B	0.1%
	SCI	B	0.1%
	FTI	A	0.1%
	HST	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%
	JKHY	D	0.1%
	COHR	B	0.1%
	CLH	B	0.1%
	BG	F	0.1%
	AMH	D	0.1%
	WBS	A	0.09%
	PRI	A	0.09%
	CACI	D	0.09%
	PNW	B	0.09%
	TECH	D	0.09%
	CCK	C	0.09%
	GNRC	B	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%
	LAMR	D	0.09%
	TAP	C	0.09%
	BLD	D	0.09%
	SJM	D	0.09%
	ATR	B	0.09%
	CG	A	0.09%
	TTEK	F	0.09%
	AA	B	0.09%
	DKS	C	0.09%
	FHN	A	0.09%
	PAYC	B	0.09%
	DAY	B	0.09%
	RRX	B	0.09%
	DUOL	A	0.09%
	NCLH	B	0.09%
	LECO	B	0.09%
	OWL	A	0.09%
	AIZ	A	0.09%
	SF	B	0.09%
	TFX	F	0.08%
	FBIN	D	0.08%
	AAON	B	0.08%
	TPX	B	0.08%
	GMED	A	0.08%
	DCI	B	0.08%
	WMS	D	0.08%
	RGLD	C	0.08%
	WYNN	D	0.08%
	INGR	B	0.08%
	WING	D	0.08%
	ORI	A	0.08%
	SOLV	C	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%
	GL	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%
	MUSA	A	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%
	AYI	B	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%
	MEDP	D	0.07%
	RRC	B	0.07%
	ACI	C	0.07%
	X	C	0.07%
	SEIC	B	0.07%
	CZR	F	0.07%
	SKX	D	0.07%
	SNV	B	0.07%
	APG	B	0.07%
	DVA	B	0.07%
	APA	D	0.07%
	CNM	D	0.07%
	CFR	B	0.07%
	VOYA	B	0.07%
	PLNT	A	0.07%
	CHE	D	0.07%
	RIVN	F	0.07%
	EGP	F	0.07%
	HRB	D	0.07%
	RL	B	0.07%
	GPK	C	0.07%
	MOS	F	0.07%
	LNW	D	0.07%
	NYT	C	0.07%
	MTZ	B	0.07%
	TTC	D	0.07%
	CR	A	0.07%
	GLOB	B	0.07%
	WTFC	A	0.07%
	CBSH	A	0.07%
	ZION	B	0.07%
	OGE	B	0.07%
	ITCI	C	0.07%
	FYBR	D	0.07%
	HAS	D	0.07%
	BILL	A	0.07%
	AOS	F	0.07%
	CMA	A	0.07%
	BRX	A	0.07%
	SNX	C	0.07%
	PCTY	B	0.07%
	ROKU	D	0.07%
	KNX	B	0.07%
	PEN	B	0.07%
	HSIC	B	0.07%
	AR	B	0.07%
	AXTA	A	0.07%
	WCC	B	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%
	SN	D	0.06%
	LSCC	D	0.06%
	AXS	A	0.06%
	MTDR	B	0.06%
	VMI	B	0.06%
	FMC	D	0.06%
	DAR	C	0.06%
	ALK	C	0.06%
	CGNX	C	0.06%
	FCN	D	0.06%
	BPOP	B	0.06%
	MTSI	B	0.06%
	MASI	A	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%
	GTLB	B	0.06%
	BBWI	D	0.06%
	OSK	B	0.06%
	VNO	B	0.06%
	S	B	0.06%
	LPX	B	0.06%
	MIDD	C	0.06%
	COKE	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%
	TREX	C	0.06%
	MHK	D	0.06%
	WH	B	0.06%
	KEX	C	0.06%
	SMAR	A	0.06%
	RHI	B	0.06%
	JAZZ	B	0.06%
	ADC	B	0.06%
	SSD	D	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%
	BWA	D	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%
	BRKR	D	0.05%
	PVH	C	0.05%
	JHG	A	0.05%
	ETSY	D	0.05%
	CROX	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%
	WFRD	D	0.05%
	IDA	A	0.05%
	WHR	B	0.05%
	LAZ	B	0.05%
	FOUR	B	0.05%
	BFAM	D	0.05%
	DOCS	C	0.05%
	STWD	C	0.05%
	ARW	D	0.05%
	UHAL	D	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%
	MAT	D	0.05%
	NOV	C	0.05%
	MSA	D	0.05%
	KD	B	0.05%
	WSC	D	0.05%
	MTG	C	0.05%
	IVZ	B	0.05%
	PARA	C	0.05%
	COLB	A	0.05%
	LSTR	D	0.05%
	ELF	C	0.05%
	DBX	B	0.05%
	FAF	A	0.05%
	STAG	F	0.05%
	LYFT	C	0.05%
	AZEK	A	0.05%
	HR	C	0.05%
	DINO	D	0.05%
	AZPN	A	0.05%
	M	D	0.04%
	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%
	LOPE	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%
	OLN	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%
	APPF	B	0.04%
	POST	C	0.04%
	SLM	A	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%
	CRUS	D	0.04%
	BC	C	0.04%
	WEN	D	0.03%
	AMTM	D	0.03%
	BHF	B	0.03%
	SMG	D	0.03%
	PENN	C	0.03%
	VAC	B	0.03%
	ZI	D	0.03%
	HUN	F	0.03%
	YETI	C	0.03%
	NCNO	B	0.03%
	IRDM	D	0.03%
	EPR	D	0.03%
	ZG	A	0.03%
	HIW	D	0.03%
	PII	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%
	NWL	B	0.03%
	PRGO	B	0.03%
	DNB	B	0.03%
	XRAY	F	0.03%
	MDU	D	0.03%
	NEU	C	0.03%
	DXC	B	0.03%
	MSM	C	0.03%
	ASH	D	0.03%
	PEGA	A	0.03%
	OGN	D	0.03%
	LINE	F	0.03%
	HOG	D	0.03%
	FLO	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%
	VSTS	C	0.02%
	CRI	D	0.02%
	UAA	C	0.02%
	ALAB	B	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%
	AAP	C	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%
	BOKF	B	0.02%
	WU	D	0.02%
	CXT	B	0.02%
	APLS	D	0.02%
	COTY	F	0.02%
	CACC	D	0.02%
	DV	C	0.02%
	FIVN	C	0.02%
	TDC	D	0.02%
	SAM	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%
	MAN	D	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%
	TXG	F	0.01%
	SNDR	B	0.01%
	REYN	D	0.01%
	TRIP	F	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%
	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 30 Positions Relative to VO

	Symbol	Grade	Weight
	CEG	D	-1.01%
	WELL	A	-1.0%
	APH	A	-0.98%
	MSI	B	-0.91%
	CTAS	B	-0.86%
	TDG	D	-0.84%
	CARR	D	-0.76%
	APO	B	-0.69%
	PCAR	B	-0.66%
	NEM	D	-0.64%
	DASH	A	-0.62%
	WCN	A	-0.55%
	CPRT	A	-0.54%
	GEV	B	-0.5%
	MRVL	B	-0.42%
	LULU	C	-0.41%
	TEAM	A	-0.37%
	JCI	C	-0.31%
	AZO	C	-0.31%
	AIG	B	-0.3%
	D	C	-0.3%
	FTNT	C	-0.29%
	STX	D	-0.26%
	EW	C	-0.24%
	MRNA	F	-0.23%
	SNOW	C	-0.21%
	SNAP	C	-0.16%
	EL	F	-0.09%
	CRBG	B	-0.08%
	WMG	C	-0.05%

IWR: Top Represented Industries & Keywords

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

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

VO: Top Represented Industries & Keywords

Industries: Software - Application Utilities - Regulated Electric Business Services Diagnostics & Research Asset Management Diversified Industrials REIT - Residential Specialty Retail Banks - Regional - US Capital Markets Oil & Gas E&P Packaged Foods Specialty Chemicals Biotechnology Insurance - Property & Casualty Medical Instruments & Supplies Oil & Gas Midstream Scientific & Technical Instruments Semiconductors Software - Infrastructure

Keywords: S&P 500 Nasdaq 100 Natural Gas Computing Electricity Insurance Real Estate Investment Trust Aerospace Electronics Insurance Products Chemical Medicine Bank Banking Cloud Computing Disability Oil And Gas Telecommunications Acid Laser