IWS vs. BIV ETF Comparison

Comparison of iShares Russell Mid-cap Value ETF (IWS) to Vanguard Intermediate-Term Bond ETF (BIV)

IWS

iShares Russell Mid-cap Value ETF

IWS Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities that exhibit value characteristics. 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 Midcap Value Index (the "underlying index"), which measures the performance of the mid-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$138.63

Average Daily Volume

282,879

Number of Holdings ^*

707

* may have additional holdings in another (foreign) market

BIV

Vanguard Intermediate-Term Bond ETF

BIV Description

The investment seeks the performance of a market-weighted bond index with an intermediate-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 5-10 Year Government/Credit Float Adjusted Index. This Index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities between 5 and 10 years and are publicly issued. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds held in the index.

Grade (RS Rating)

Last Trade

$75.41

Average Daily Volume

1,217,456

Number of Holdings ^*

484

* may have additional holdings in another (foreign) market

Performance

Period	IWS	BIV
30 Days	5.17%	-0.77%
60 Days	5.63%	-3.28%
90 Days	7.53%	-2.32%
12 Months	31.74%	6.35%

262 Overlapping Holdings

Symbol	Grade	Weight in IWS	Weight in BIV	Overlap
A	D	0.41%	0.01%	0.01%
AAL	B	0.1%	0.01%	0.01%
AAP	C	0.02%	0.02%	0.02%
ACGL	D	0.4%	0.01%	0.01%
ADC	B	0.08%	0.01%	0.01%
ADM	D	0.28%	0.02%	0.02%
AEE	A	0.27%	0.01%	0.01%
AES	F	0.11%	0.01%	0.01%
AFG	A	0.11%	0.01%	0.01%
AFL	B	0.68%	0.01%	0.01%
AGO	B	0.05%	0.01%	0.01%
AGR	B	0.03%	0.01%	0.01%
AIZ	A	0.13%	0.01%	0.01%
AL	B	0.06%	0.01%	0.01%
ALL	A	0.48%	0.01%	0.01%
ALLE	D	0.13%	0.01%	0.01%
AMCR	D	0.16%	0.01%	0.01%
AMG	B	0.06%	0.02%	0.02%
AMH	D	0.14%	0.01%	0.01%
AN	C	0.05%	0.01%	0.01%
APTV	D	0.16%	0.01%	0.01%
ARE	D	0.2%	0.01%	0.01%
ARW	D	0.07%	0.01%	0.01%
ATO	A	0.24%	0.01%	0.01%
AVB	B	0.36%	0.01%	0.01%
AVT	C	0.05%	0.01%	0.01%
AVY	D	0.11%	0.01%	0.01%
AWK	D	0.29%	0.01%	0.01%
AXS	A	0.07%	0.01%	0.01%
AYI	B	0.11%	0.01%	0.01%
BAX	D	0.18%	0.01%	0.01%
BBY	D	0.22%	0.01%	0.01%
BC	C	0.06%	0.02%	0.02%
BEN	C	0.07%	0.01%	0.01%
BERY	B	0.08%	0.01%	0.01%
BG	F	0.14%	0.01%	0.01%
BHF	B	0.03%	0.01%	0.01%
BIIB	F	0.26%	0.04%	0.04%
BK	A	0.64%	0.01%	0.01%
BR	A	0.03%	0.02%	0.02%
BRO	B	0.16%	0.01%	0.01%
BRX	A	0.1%	0.01%	0.01%
BWA	D	0.09%	0.03%	0.03%
BXP	D	0.14%	0.01%	0.01%
CAG	D	0.14%	0.02%	0.02%
CAH	B	0.13%	0.03%	0.03%
CBOE	B	0.23%	0.01%	0.01%
CCI	D	0.5%	0.01%	0.01%
CE	F	0.07%	0.01%	0.01%
CFG	B	0.23%	0.01%	0.01%
CHD	B	0.29%	0.01%	0.01%
CHRW	C	0.14%	0.02%	0.02%
CHTR	C	0.4%	0.02%	0.02%
CINF	A	0.26%	0.01%	0.01%
CMA	A	0.1%	0.01%	0.01%
CMI	A	0.54%	0.01%	0.01%
CMS	C	0.22%	0.01%	0.01%
CNA	B	0.01%	0.01%	0.01%
CNH	C	0.1%	0.01%	0.01%
CNP	B	0.21%	0.01%	0.01%
CPB	D	0.09%	0.02%	0.02%
CPT	B	0.14%	0.01%	0.01%
CSL	C	0.19%	0.01%	0.01%
CTVA	C	0.43%	0.01%	0.01%
CUBE	D	0.12%	0.01%	0.01%
DAL	C	0.45%	0.02%	0.02%
DD	D	0.38%	0.05%	0.05%
DFS	B	0.48%	0.02%	0.02%
DG	F	0.18%	0.01%	0.01%
DGX	A	0.2%	0.01%	0.01%
DHI	D	0.53%	0.01%	0.01%
DLR	B	0.64%	0.02%	0.02%
DLTR	F	0.14%	0.03%	0.03%
DOC	D	0.16%	0.02%	0.02%
DOV	A	0.3%	0.01%	0.01%
DOW	F	0.34%	0.01%	0.01%
DOX	D	0.11%	0.02%	0.02%
DRI	B	0.1%	0.01%	0.01%
DTE	C	0.27%	0.01%	0.01%
DVN	F	0.27%	0.01%	0.01%
DXC	B	0.04%	0.02%	0.02%
EA	A	0.47%	0.02%	0.02%
EBAY	D	0.34%	0.02%	0.02%
ED	D	0.37%	0.01%	0.01%
EFX	F	0.27%	0.02%	0.02%
EIX	B	0.35%	0.01%	0.01%
EMN	D	0.13%	0.01%	0.01%
EPR	D	0.04%	0.01%	0.01%
EQR	B	0.31%	0.01%	0.01%
ES	D	0.24%	0.01%	0.01%
ESS	B	0.21%	0.01%	0.01%
ETR	B	0.35%	0.01%	0.01%
EVRG	A	0.16%	0.01%	0.01%
EXC	C	0.43%	0.01%	0.01%
EXR	D	0.38%	0.01%	0.01%
FAF	A	0.07%	0.01%	0.01%
FANG	D	0.37%	0.01%	0.01%
FIS	C	0.54%	0.01%	0.01%
FITB	A	0.35%	0.01%	0.01%
FLO	D	0.04%	0.01%	0.01%
FLS	B	0.09%	0.01%	0.01%
FMC	D	0.07%	0.01%	0.01%
FNF	B	0.18%	0.01%	0.01%
FOXA	B	0.12%	0.02%	0.02%
FRT	B	0.1%	0.01%	0.01%
GIS	D	0.39%	0.01%	0.01%
GL	B	0.11%	0.01%	0.01%
GLPI	C	0.14%	0.01%	0.01%
GPC	D	0.19%	0.01%	0.01%
GPN	B	0.33%	0.01%	0.01%
GXO	B	0.08%	0.01%	0.01%
H	B	0.06%	0.01%	0.01%
HAL	C	0.29%	0.02%	0.02%
HAS	D	0.01%	0.01%	0.01%
HBAN	A	0.28%	0.01%	0.01%
HES	B	0.16%	0.01%	0.01%
HIG	B	0.38%	0.02%	0.02%
HII	D	0.08%	0.01%	0.01%
HIW	D	0.04%	0.01%	0.01%
HPQ	B	0.3%	0.02%	0.02%
HR	C	0.07%	0.01%	0.01%
HRB	D	0.07%	0.01%	0.01%
HRL	D	0.09%	0.01%	0.01%
HST	C	0.13%	0.02%	0.02%
HSY	F	0.24%	0.01%	0.01%
HUBB	B	0.26%	0.01%	0.01%
HUM	C	0.37%	0.01%	0.01%
HUN	F	0.04%	0.01%	0.01%
IEX	B	0.19%	0.01%	0.01%
IFF	D	0.24%	0.01%	0.01%
ILMN	D	0.24%	0.01%	0.01%
INGR	B	0.1%	0.01%	0.01%
INVH	D	0.23%	0.02%	0.02%
IPG	D	0.11%	0.01%	0.01%
JBL	B	0.14%	0.01%	0.01%
JEF	A	0.1%	0.01%	0.01%
JNPR	F	0.13%	0.01%	0.01%
K	A	0.23%	0.01%	0.01%
KEX	C	0.08%	0.01%	0.01%
KEY	B	0.2%	0.01%	0.01%
KEYS	A	0.29%	0.01%	0.01%
KIM	A	0.18%	0.01%	0.01%
KMI	A	0.58%	0.01%	0.01%
KMPR	B	0.05%	0.01%	0.01%
KR	B	0.42%	0.01%	0.01%
KRC	C	0.05%	0.01%	0.01%
KSS	F	0.02%	0.01%	0.01%
L	A	0.17%	0.01%	0.01%
LAZ	B	0.0%	0.01%	0.0%
LDOS	C	0.24%	0.02%	0.02%
LEA	D	0.06%	0.01%	0.01%
LEG	F	0.02%	0.01%	0.01%
LEN	D	0.02%	0.01%	0.01%
LEN	D	0.44%	0.01%	0.01%
LH	C	0.22%	0.01%	0.01%
LHX	C	0.51%	0.01%	0.01%
LNC	B	0.07%	0.01%	0.01%
LNT	A	0.17%	0.01%	0.01%
LUV	C	0.21%	0.01%	0.01%
LYB	F	0.24%	0.01%	0.01%
MAA	B	0.2%	0.01%	0.01%
MAS	D	0.19%	0.01%	0.01%
MHK	D	0.08%	0.01%	0.01%
MKC	D	0.21%	0.01%	0.01%
MKL	A	0.18%	0.01%	0.01%
MLM	B	0.37%	0.01%	0.01%
MOS	F	0.09%	0.02%	0.02%
MP	B	0.03%	0.01%	0.01%
MRO	B	0.18%	0.02%	0.02%
MTB	A	0.39%	0.02%	0.02%
NDAQ	A	0.36%	0.01%	0.01%
NEU	C	0.04%	0.01%	0.01%
NFG	A	0.06%	0.01%	0.01%
NI	A	0.18%	0.02%	0.02%
NNN	D	0.08%	0.01%	0.01%
NOV	C	0.07%	0.01%	0.01%
NTAP	C	0.15%	0.01%	0.01%
NTRS	A	0.24%	0.01%	0.01%
NUE	C	0.39%	0.01%	0.01%
NVR	D	0.28%	0.01%	0.01%
NVT	B	0.13%	0.01%	0.01%
O	D	0.54%	0.01%	0.01%
OC	A	0.18%	0.01%	0.01%
OGE	B	0.09%	0.01%	0.01%
OHI	C	0.11%	0.01%	0.01%
OKE	A	0.7%	0.01%	0.01%
OMC	C	0.21%	0.01%	0.01%
OSK	B	0.08%	0.01%	0.01%
OTIS	C	0.44%	0.01%	0.01%
PCG	A	0.49%	0.01%	0.01%
PEG	A	0.49%	0.01%	0.01%
PFG	D	0.22%	0.01%	0.01%
PHM	D	0.29%	0.01%	0.01%
PKG	A	0.23%	0.01%	0.01%
PNW	B	0.11%	0.01%	0.01%
PPG	F	0.32%	0.01%	0.01%
PRU	A	0.5%	0.01%	0.01%
PWR	A	0.36%	0.01%	0.01%
QRVO	F	0.07%	0.02%	0.02%
R	B	0.08%	0.01%	0.01%
REG	B	0.15%	0.01%	0.01%
REXR	F	0.1%	0.01%	0.01%
RF	A	0.27%	0.01%	0.01%
RGA	A	0.17%	0.01%	0.01%
RJF	A	0.33%	0.03%	0.03%
RL	B	0.09%	0.02%	0.02%
RNR	C	0.15%	0.01%	0.01%
ROK	B	0.33%	0.01%	0.01%
ROST	C	0.39%	0.01%	0.01%
RPM	A	0.15%	0.01%	0.01%
RPRX	D	0.11%	0.01%	0.01%
RS	B	0.2%	0.01%	0.01%
RYN	D	0.05%	0.01%	0.01%
SF	B	0.13%	0.01%	0.01%
SJM	D	0.12%	0.01%	0.01%
SNA	A	0.2%	0.01%	0.01%
SNX	C	0.1%	0.01%	0.01%
SON	D	0.05%	0.01%	0.01%
SPG	B	0.48%	0.01%	0.01%
STE	F	0.24%	0.01%	0.01%
STLD	B	0.23%	0.01%	0.01%
STT	A	0.32%	0.01%	0.01%
SUI	D	0.17%	0.01%	0.01%
SWK	D	0.14%	0.01%	0.01%
SWKS	F	0.15%	0.01%	0.01%
SYF	B	0.28%	0.02%	0.02%
SYY	B	0.16%	0.02%	0.02%
TDY	B	0.24%	0.01%	0.01%
THG	A	0.06%	0.01%	0.01%
TKR	D	0.05%	0.01%	0.01%
TRMB	B	0.19%	0.02%	0.02%
TSN	B	0.2%	0.03%	0.03%
TXT	D	0.17%	0.01%	0.01%
UAL	A	0.33%	0.01%	0.01%
UDR	B	0.16%	0.01%	0.01%
UHS	D	0.13%	0.02%	0.02%
UNM	A	0.15%	0.01%	0.01%
VFC	C	0.08%	0.01%	0.01%
VMC	B	0.3%	0.01%	0.01%
VNO	B	0.08%	0.01%	0.01%
VNT	B	0.07%	0.01%	0.01%
VOYA	B	0.09%	0.01%	0.01%
VRSN	F	0.16%	0.02%	0.02%
VTR	C	0.28%	0.01%	0.01%
VTRS	A	0.17%	0.02%	0.02%
WAB	B	0.38%	0.02%	0.02%
WBA	F	0.07%	0.01%	0.01%
WBS	A	0.11%	0.01%	0.01%
WEC	A	0.34%	0.01%	0.01%
WHR	B	0.07%	0.01%	0.01%
WLK	D	0.05%	0.01%	0.01%
WMB	A	0.76%	0.01%	0.01%
WPC	D	0.13%	0.01%	0.01%
WTFC	A	0.09%	0.01%	0.01%
WTRG	B	0.11%	0.01%	0.01%
WU	D	0.03%	0.01%	0.01%
WY	D	0.25%	0.02%	0.02%
XEL	A	0.43%	0.01%	0.01%
XRAY	F	0.04%	0.02%	0.02%
XYL	D	0.32%	0.01%	0.01%
ZBH	C	0.25%	0.02%	0.02%
ZION	B	0.1%	0.01%	0.01%

IWS Overweight 445 Positions Relative to BIV

Symbol	Grade	Weight
AJG	B	0.65%
MSTR	C	0.55%
KVUE	A	0.5%
AME	A	0.49%
HWM	A	0.47%
BKR	B	0.47%
URI	B	0.46%
IR	B	0.45%
CBRE	B	0.44%
FERG	B	0.42%
CTSH	B	0.42%
GLW	B	0.39%
RCL	A	0.39%
MCHP	D	0.37%
GEHC	F	0.37%
GRMN	B	0.36%
VICI	C	0.36%
WTW	B	0.35%
TTWO	A	0.34%
IQV	D	0.34%
HLT	A	0.33%
CNC	D	0.33%
CSGP	D	0.32%
ANSS	B	0.32%
PAYX	C	0.32%
ON	D	0.31%
SQ	B	0.3%
HPE	B	0.3%
TROW	B	0.29%
FTV	C	0.29%
FCNCA	A	0.29%
SW	A	0.29%
CCL	B	0.27%
RMD	C	0.27%
MTD	D	0.27%
PPL	B	0.27%
YUM	B	0.26%
EQT	B	0.26%
SBAC	D	0.26%
LNG	B	0.26%
FE	C	0.26%
WBD	C	0.25%
ZM	B	0.24%
HOOD	B	0.24%
EXE	B	0.24%
WDC	D	0.23%
IP	B	0.22%
FSLR	F	0.22%
BALL	D	0.21%
CTRA	B	0.21%
IBKR	A	0.21%
BLDR	D	0.21%
MSCI	C	0.21%
COO	D	0.21%
WRB	A	0.2%
HOLX	D	0.2%
WSO	A	0.2%
CVNA	B	0.19%
J	F	0.19%
TRU	D	0.19%
PNR	A	0.19%
CF	B	0.18%
GEN	B	0.18%
ZBRA	B	0.17%
TOL	B	0.17%
SSNC	B	0.17%
UTHR	C	0.17%
EXPD	D	0.16%
EWBC	A	0.16%
IRM	D	0.16%
NDSN	B	0.16%
ACM	A	0.16%
USFD	A	0.16%
THC	D	0.16%
JBHT	C	0.16%
GGG	B	0.16%
TWLO	A	0.15%
EG	C	0.15%
RVTY	F	0.15%
CW	B	0.15%
VLTO	D	0.15%
FFIV	B	0.15%
EME	C	0.15%
AVTR	F	0.15%
ITT	A	0.14%
COHR	B	0.14%
JKHY	D	0.14%
CLH	B	0.14%
AFRM	B	0.14%
ELS	C	0.14%
AKAM	D	0.14%
TPR	B	0.14%
INCY	C	0.13%
KMX	B	0.13%
BJ	A	0.13%
OVV	B	0.13%
Z	A	0.13%
CDW	F	0.13%
FDS	B	0.13%
SOFI	A	0.13%
SCI	B	0.13%
BMRN	D	0.13%
FTI	A	0.13%
NTNX	A	0.13%
ALB	C	0.13%
EPAM	C	0.13%
CASY	A	0.13%
TECH	D	0.12%
CCK	C	0.12%
CTLT	B	0.12%
EVR	B	0.12%
FWONK	B	0.12%
NWSA	B	0.12%
TAP	C	0.12%
PFGC	B	0.12%
ATR	B	0.12%
AA	B	0.12%
CG	A	0.12%
FHN	A	0.12%
RRX	B	0.12%
NRG	B	0.12%
CRL	C	0.11%
CIEN	B	0.11%
COIN	C	0.11%
MKTX	D	0.11%
WAL	B	0.11%
DPZ	C	0.11%
EHC	B	0.11%
ARMK	B	0.11%
DTM	B	0.11%
NLY	C	0.11%
GME	C	0.11%
LKQ	D	0.11%
BLD	D	0.11%
DAY	B	0.11%
DKS	C	0.11%
LAD	A	0.11%
ALSN	B	0.11%
WWD	B	0.11%
PRI	A	0.11%
CACI	D	0.11%
TTEK	F	0.1%
GWRE	A	0.1%
ALLY	C	0.1%
AOS	F	0.1%
MGM	D	0.1%
KNX	B	0.1%
HLI	B	0.1%
AR	B	0.1%
HSIC	B	0.1%
PTC	A	0.1%
RBC	A	0.1%
WCC	B	0.1%
AXTA	A	0.1%
TFX	F	0.1%
WST	C	0.1%
TW	A	0.1%
GMED	A	0.1%
FBIN	D	0.1%
RGLD	C	0.1%
BWXT	B	0.1%
DCI	B	0.1%
ORI	A	0.1%
SOLV	C	0.1%
BRBR	A	0.1%
PNFP	B	0.1%
G	B	0.09%
ACI	C	0.09%
MTCH	D	0.09%
CHRD	D	0.09%
RRC	B	0.09%
SEIC	B	0.09%
CZR	F	0.09%
SNV	B	0.09%
X	C	0.09%
APG	B	0.09%
APA	D	0.09%
TKO	B	0.09%
LECO	B	0.09%
CFR	B	0.09%
FICO	B	0.09%
LAMR	D	0.09%
WAT	B	0.09%
EGP	F	0.09%
RIVN	F	0.09%
GPK	C	0.09%
NYT	C	0.09%
TTC	D	0.09%
CR	A	0.09%
MTZ	B	0.09%
JLL	D	0.09%
WYNN	D	0.09%
FYBR	D	0.09%
CBSH	A	0.09%
RLI	B	0.08%
DAR	C	0.08%
ELAN	D	0.08%
FCN	D	0.08%
MTSI	B	0.08%
FND	C	0.08%
SSD	D	0.08%
ALGN	D	0.08%
FR	C	0.08%
ATI	D	0.08%
ESAB	B	0.08%
GNTX	C	0.08%
AGNC	D	0.08%
BBWI	D	0.08%
KBR	F	0.08%
MIDD	C	0.08%
CART	C	0.08%
SKX	D	0.08%
COKE	C	0.08%
FAST	B	0.08%
LBRDK	C	0.08%
LW	C	0.08%
RHI	B	0.08%
ROKU	D	0.08%
PB	A	0.08%
CHE	D	0.08%
JAZZ	B	0.08%
PR	B	0.08%
IDA	A	0.07%
RGEN	D	0.07%
S	B	0.07%
STWD	C	0.07%
BPOP	B	0.07%
BIO	D	0.07%
COLD	D	0.07%
OMF	A	0.07%
MTDR	B	0.07%
SAIC	F	0.07%
MAT	D	0.07%
SIRI	C	0.07%
MOH	F	0.07%
MSA	D	0.07%
ESI	A	0.07%
KD	B	0.07%
PARA	C	0.07%
MTG	C	0.07%
IVZ	B	0.07%
CGNX	C	0.07%
LSTR	D	0.07%
BILL	A	0.07%
OKTA	C	0.07%
COLB	A	0.07%
STAG	F	0.07%
MKSI	C	0.07%
WEX	D	0.07%
AZPN	A	0.07%
DINO	D	0.07%
GWW	B	0.07%
VMI	B	0.07%
ALK	C	0.07%
WSM	B	0.07%
WH	B	0.07%
AMP	A	0.06%
BYD	C	0.06%
UGI	A	0.06%
BFAM	D	0.06%
OZK	B	0.06%
POST	C	0.06%
SLM	A	0.06%
CCCS	B	0.06%
SN	D	0.06%
EXAS	D	0.06%
CRUS	D	0.06%
GNRC	B	0.06%
LITE	B	0.06%
RITM	C	0.06%
THO	B	0.06%
OLLI	D	0.06%
DOCS	C	0.06%
FOX	A	0.06%
PVH	C	0.06%
WMS	D	0.06%
SAIA	B	0.06%
ONTO	D	0.06%
JHG	A	0.06%
LFUS	F	0.06%
AGCO	D	0.06%
FNB	A	0.06%
GTES	A	0.05%
TPG	A	0.05%
DLB	B	0.05%
PAYC	B	0.05%
M	D	0.05%
GAP	C	0.05%
EEFT	B	0.05%
SLGN	A	0.05%
AWI	A	0.05%
PSN	D	0.05%
WSC	D	0.05%
DBX	B	0.05%
CUZ	B	0.05%
ST	F	0.05%
ROIV	C	0.05%
CROX	D	0.05%
FRPT	B	0.05%
HXL	D	0.05%
OLN	D	0.05%
WTM	A	0.05%
SMG	D	0.04%
AM	A	0.04%
ZG	A	0.04%
ALNY	D	0.04%
MASI	A	0.04%
ACHC	F	0.04%
FHB	A	0.04%
UHAL	D	0.04%
IAC	D	0.04%
PII	D	0.04%
NVST	B	0.04%
CLF	F	0.04%
W	F	0.04%
NWS	B	0.04%
TNL	A	0.04%
NWL	B	0.04%
VNOM	A	0.04%
PRGO	B	0.04%
CIVI	D	0.04%
DNB	B	0.04%
MDU	D	0.04%
MSGS	A	0.04%
PLNT	A	0.04%
RH	B	0.04%
OLED	D	0.04%
MSM	C	0.04%
TYL	B	0.04%
OGN	D	0.04%
ASH	D	0.04%
LINE	F	0.04%
SITE	D	0.04%
HOG	D	0.04%
GFS	C	0.04%
HAYW	B	0.03%
JWN	C	0.03%
CWEN	C	0.03%
YETI	C	0.03%
ULTA	F	0.03%
PINC	B	0.03%
ALGM	D	0.03%
CPRI	F	0.03%
SPB	C	0.03%
EXP	A	0.03%
ENOV	C	0.03%
HHH	B	0.03%
MPW	F	0.03%
CC	C	0.03%
BOKF	B	0.03%
COTY	F	0.03%
CXT	B	0.03%
COLM	B	0.03%
CNM	D	0.03%
SEE	C	0.03%
VIRT	B	0.03%
ECG	C	0.03%
U	C	0.03%
AMED	F	0.03%
AMKR	D	0.03%
MAN	D	0.03%
NSA	D	0.03%
PAG	B	0.03%
PK	B	0.03%
IRDM	D	0.03%
SNRE	D	0.03%
LLYVK	A	0.03%
BROS	B	0.03%
NXST	C	0.03%
SPR	D	0.03%
AMTM	D	0.03%
LOPE	B	0.03%
VAC	B	0.03%
PENN	C	0.03%
ZI	D	0.03%
TER	D	0.02%
TRIP	F	0.02%
SNDR	B	0.02%
REYN	D	0.02%
FTRE	D	0.02%
WEN	D	0.02%
EXEL	B	0.02%
UA	C	0.02%
QS	F	0.02%
CLVT	F	0.02%
GO	C	0.02%
BIRK	D	0.02%
ALAB	B	0.02%
VSTS	C	0.02%
CNXC	F	0.02%
CRI	D	0.02%
UAA	C	0.02%
PSTG	D	0.02%
RKT	F	0.02%
AZEK	A	0.02%
PPC	C	0.02%
LCID	F	0.02%
ETSY	D	0.02%
LBTYK	A	0.02%
INFA	D	0.02%
IPGP	D	0.02%
QDEL	F	0.02%
LYFT	C	0.02%
LBTYA	B	0.02%
BRKR	D	0.02%
GLOB	B	0.02%
SHC	F	0.02%
AZTA	D	0.02%
LPX	B	0.02%
ADT	C	0.02%
RCM	F	0.02%
SAM	C	0.02%
TXG	F	0.01%
PLTK	B	0.01%
CHH	A	0.01%
DJT	C	0.01%
CACC	D	0.01%
SEB	F	0.01%
PATH	C	0.01%
TFSL	A	0.01%
UI	A	0.01%
WOLF	F	0.01%
CWEN	C	0.01%
LSCC	D	0.01%
FIVE	F	0.01%
HCP	B	0.01%
MTN	C	0.01%
CAR	C	0.01%
LBRDA	C	0.01%
FWONA	B	0.01%
PYCR	C	0.01%
AS	B	0.01%
CERT	F	0.01%
DV	C	0.01%
LLYVA	A	0.01%
NCNO	B	0.01%
DDS	B	0.01%
LOAR	A	0.0%
PARAA	B	0.0%
UWMC	D	0.0%
SEG	B	0.0%
NFE	D	0.0%
UHAL	D	0.0%
GRAL	C	0.0%
IONS	F	0.0%

IWS Underweight 223 Positions Relative to BIV

Symbol	Grade	Weight
WIT	A	-0.35%
DT	C	-0.11%
MSFT	F	-0.1%
AXP	A	-0.05%
ABBV	D	-0.05%
MS	A	-0.04%
WFC	A	-0.04%
TMUS	B	-0.04%
CB	C	-0.03%
KOF	F	-0.03%
SLB	C	-0.03%
BMO	A	-0.03%
ESGR	B	-0.03%
NOW	A	-0.03%
NVDA	C	-0.03%
BABA	D	-0.03%
LVS	C	-0.02%
LRCX	F	-0.02%
LMT	D	-0.02%
KLAC	D	-0.02%
EOG	A	-0.02%
CTAS	B	-0.02%
ADI	D	-0.02%
MET	A	-0.02%
ETN	A	-0.02%
CNO	A	-0.02%
ADP	B	-0.02%
ARCC	A	-0.02%
TEL	B	-0.02%
SYK	C	-0.02%
PGR	A	-0.02%
REGN	F	-0.02%
ADBE	C	-0.02%
MCD	D	-0.02%
NEM	D	-0.02%
MU	D	-0.02%
GSK	F	-0.02%
PH	A	-0.02%
EXPE	B	-0.02%
GD	F	-0.02%
PYPL	B	-0.02%
CRM	B	-0.02%
MPLX	A	-0.02%
ET	A	-0.02%
MMC	B	-0.02%
BSX	B	-0.02%
GOOGL	C	-0.02%
QCOM	F	-0.02%
NWG	C	-0.02%
MRK	F	-0.02%
HCA	F	-0.02%
CARR	D	-0.02%
NOC	D	-0.02%
GE	D	-0.02%
VOD	F	-0.02%
MUFG	B	-0.02%
AMZN	C	-0.02%
SKT	B	-0.01%
SAVE	D	-0.01%
GBDC	C	-0.01%
CBT	C	-0.01%
TME	D	-0.01%
OGS	A	-0.01%
JCI	C	-0.01%
KMT	B	-0.01%
EPRT	B	-0.01%
PSEC	D	-0.01%
LII	A	-0.01%
OCSL	F	-0.01%
MDT	D	-0.01%
MCY	A	-0.01%
PDM	D	-0.01%
KRG	B	-0.01%
FSK	A	-0.01%
LXP	D	-0.01%
OPI	F	-0.01%
BDN	C	-0.01%
WB	D	-0.01%
VRSK	A	-0.01%
SITC	D	-0.01%
SCS	C	-0.01%
SAFE	D	-0.01%
EW	C	-0.01%
CME	A	-0.01%
BKU	A	-0.01%
AAT	B	-0.01%
MCO	B	-0.01%
GP	F	-0.01%
HP	B	-0.01%
INTU	C	-0.01%
GILD	C	-0.01%
JD	D	-0.01%
DHR	F	-0.01%
FTNT	C	-0.01%
SBRA	C	-0.01%
PRE	D	-0.01%
NHI	D	-0.01%
LIN	D	-0.01%
BNS	A	-0.01%
BKH	A	-0.01%
CP	D	-0.01%
TD	F	-0.01%
TSCO	D	-0.01%
SWX	B	-0.01%
ITW	B	-0.01%
HPP	F	-0.01%
DSS	F	-0.01%
LLY	F	-0.01%
MRVL	B	-0.01%
NSC	B	-0.01%
ORLY	B	-0.01%
EMR	A	-0.01%
DE	A	-0.01%
FLEX	A	-0.01%
ADSK	A	-0.01%
BIDU	F	-0.01%
APD	A	-0.01%
UPS	C	-0.01%
TGT	F	-0.01%
WELL	A	-0.01%
TT	A	-0.01%
TJX	A	-0.01%
WM	A	-0.01%
PM	B	-0.01%
ROP	B	-0.01%
PSA	D	-0.01%
SO	D	-0.01%
MPC	D	-0.01%
KMB	D	-0.01%
EL	F	-0.01%
AZO	C	-0.01%
CLX	B	-0.01%
TXN	C	-0.01%
ZTS	D	-0.01%
PSX	C	-0.01%
SPGI	C	-0.01%
AZN	D	-0.01%
AER	B	-0.01%
BLK	C	-0.01%
APH	A	-0.01%
AMAT	F	-0.01%
MSI	B	-0.01%
ICE	C	-0.01%
EQNR	D	-0.01%
EQIX	A	-0.01%
FDX	B	-0.01%
ECL	D	-0.01%
NKE	D	-0.01%
PAA	B	-0.01%
MA	C	-0.01%
MMM	D	-0.01%
NXPI	D	-0.01%
UNP	C	-0.01%
VLO	C	-0.01%
TMO	F	-0.01%
WEST	C	-0.01%
PLD	D	-0.01%
RSG	A	-0.01%
PG	A	-0.01%
CSX	B	-0.01%
SRE	A	-0.01%
SBUX	A	-0.01%
AEP	D	-0.01%
AON	A	-0.01%
GM	B	-0.01%
EQH	B	-0.01%
CAT	B	-0.01%
STZ	D	-0.01%
EPD	A	-0.01%
DB	D	-0.01%
COF	B	-0.01%
MO	A	-0.01%
MDLZ	F	-0.01%
KDP	D	-0.01%
V	A	-0.01%
SHW	A	-0.01%
PEP	F	-0.01%
DUK	C	-0.01%
AMT	D	-0.01%
COP	C	-0.01%
USB	A	-0.01%
HON	B	-0.01%
JNJ	D	-0.01%
HD	A	-0.01%
D	C	-0.01%
CVX	A	-0.01%
MAR	B	-0.01%
AMGN	D	-0.01%
TFC	A	-0.01%
PFE	D	-0.01%
SCHW	B	-0.01%
BKNG	A	-0.01%
ABT	B	-0.01%
INTC	D	-0.01%
KO	D	-0.01%
PNC	B	-0.01%
DIS	B	-0.01%
LOW	D	-0.01%
UNH	C	-0.01%
AIG	B	-0.01%
WMT	A	-0.01%
AAPL	C	-0.01%
BDX	F	-0.01%
DELL	C	-0.01%
NEE	D	-0.01%
XOM	B	-0.01%
CI	F	-0.01%
COST	B	-0.01%
RTX	C	-0.01%
IBM	C	-0.01%
ORCL	B	-0.01%
AVGO	D	-0.01%
CVS	D	-0.01%
GS	A	-0.01%
T	A	-0.01%
JPM	A	-0.01%
HSBC	B	-0.01%
VZ	C	-0.01%
BMY	B	-0.01%
CMCSA	B	-0.01%
BA	F	-0.01%
C	A	-0.01%
BAC	A	-0.01%