IWS vs. VCIT ETF Comparison

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

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

$132.00

Average Daily Volume

306,447

Number of Holdings ^*

706

* may have additional holdings in another (foreign) market

VCIT

Vanguard Intermediate-Term Corporate Bond ETF

VCIT Description

The investment seeks to track the performance of a market-weighted corporate 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 Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 5 and 10 years. 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 included in the index.

Grade (RS Rating)

Last Trade

$83.95

Average Daily Volume

6,303,319

Number of Holdings ^*

488

* may have additional holdings in another (foreign) market

Performance

Period	IWS	VCIT
30 Days	2.86%	1.55%
60 Days	4.51%	4.17%
90 Days	9.81%	6.19%
12 Months	28.17%	15.27%

266 Overlapping Holdings

Symbol	Grade	Weight in IWS	Weight in VCIT	Overlap
A	C	0.46%	0.02%	0.02%
AAL	D	0.08%	0.01%	0.01%
AAP	F	0.03%	0.01%	0.01%
ACGL	B	0.46%	0.03%	0.03%
ADC	C	0.08%	0.01%	0.01%
ADM	D	0.33%	0.05%	0.05%
AEE	B	0.26%	0.01%	0.01%
AES	C	0.15%	0.02%	0.02%
AFG	C	0.11%	0.02%	0.02%
AFL	A	0.68%	0.01%	0.01%
AGO	D	0.05%	0.03%	0.03%
AGR	C	0.03%	0.04%	0.03%
AIZ	B	0.11%	0.02%	0.02%
AL	C	0.05%	0.01%	0.01%
ALL	C	0.48%	0.02%	0.02%
ALLE	B	0.14%	0.02%	0.02%
AMCR	B	0.18%	0.01%	0.01%
AMG	C	0.06%	0.04%	0.04%
AMH	D	0.15%	0.02%	0.02%
AN	C	0.05%	0.02%	0.02%
APTV	D	0.22%	0.01%	0.01%
ARE	C	0.24%	0.01%	0.01%
ARW	B	0.08%	0.03%	0.03%
ATO	B	0.23%	0.02%	0.02%
AVB	C	0.37%	0.02%	0.02%
AVT	B	0.05%	0.02%	0.02%
AVY	C	0.12%	0.02%	0.02%
AWK	C	0.32%	0.02%	0.02%
AXS	B	0.07%	0.01%	0.01%
AYI	B	0.1%	0.03%	0.03%
BAX	C	0.22%	0.02%	0.02%
BBY	A	0.24%	0.02%	0.02%
BC	C	0.06%	0.03%	0.03%
BEN	F	0.07%	0.04%	0.04%
BERY	B	0.09%	0.03%	0.03%
BG	F	0.16%	0.03%	0.03%
BHF	F	0.03%	0.05%	0.03%
BIIB	F	0.33%	0.07%	0.07%
BK	B	0.6%	0.01%	0.01%
BR	C	0.02%	0.04%	0.02%
BRO	C	0.15%	0.02%	0.02%
BRX	C	0.09%	0.01%	0.01%
BWA	C	0.09%	0.01%	0.01%
BXP	C	0.14%	0.02%	0.02%
CAG	B	0.17%	0.01%	0.01%
CAH	C	0.13%	0.05%	0.05%
CBOE	C	0.25%	0.02%	0.02%
CCI	C	0.57%	0.03%	0.03%
CE	D	0.12%	0.02%	0.02%
CFG	D	0.21%	0.03%	0.03%
CHD	C	0.29%	0.02%	0.02%
CHH	B	0.01%	0.01%	0.01%
CHRW	B	0.14%	0.03%	0.03%
CHTR	D	0.35%	0.06%	0.06%
CINF	C	0.23%	0.02%	0.02%
CMA	C	0.09%	0.03%	0.03%
CMI	B	0.48%	0.04%	0.04%
CMS	B	0.23%	0.02%	0.02%
CNA	D	0.01%	0.01%	0.01%
CNH	C	0.11%	0.04%	0.04%
CNP	C	0.2%	0.02%	0.02%
CPB	C	0.11%	0.03%	0.03%
CPT	C	0.15%	0.02%	0.02%
CSL	B	0.2%	0.03%	0.03%
CTVA	B	0.46%	0.02%	0.02%
CUBE	C	0.14%	0.01%	0.01%
DAL	C	0.34%	0.03%	0.03%
DD	B	0.39%	0.1%	0.1%
DFS	C	0.4%	0.01%	0.01%
DG	F	0.21%	0.03%	0.03%
DGX	B	0.19%	0.01%	0.01%
DHI	C	0.64%	0.02%	0.02%
DLR	B	0.58%	0.03%	0.03%
DLTR	F	0.16%	0.07%	0.07%
DOC	B	0.17%	0.01%	0.01%
DOV	B	0.29%	0.02%	0.02%
DOW	C	0.41%	0.01%	0.01%
DOX	C	0.11%	0.03%	0.03%
DRI	C	0.11%	0.02%	0.02%
DTE	A	0.29%	0.01%	0.01%
DVN	F	0.29%	0.01%	0.01%
DXC	D	0.04%	0.03%	0.03%
EA	D	0.42%	0.04%	0.04%
EBAY	B	0.36%	0.04%	0.04%
ED	B	0.4%	0.01%	0.01%
EFX	C	0.33%	0.03%	0.03%
EIX	B	0.37%	0.01%	0.01%
EMN	B	0.14%	0.03%	0.03%
EPR	C	0.04%	0.02%	0.02%
EQR	C	0.33%	0.02%	0.02%
ES	B	0.27%	0.01%	0.01%
ESS	C	0.22%	0.01%	0.01%
ETR	A	0.31%	0.01%	0.01%
EVRG	B	0.15%	0.01%	0.01%
EXC	B	0.46%	0.01%	0.01%
EXP	B	0.03%	0.04%	0.03%
EXR	C	0.43%	0.02%	0.02%
FAF	B	0.07%	0.03%	0.03%
FANG	F	0.36%	0.04%	0.04%
FHN	D	0.1%	0.03%	0.03%
FIS	C	0.53%	0.03%	0.03%
FITB	B	0.33%	0.03%	0.03%
FLO	C	0.05%	0.01%	0.01%
FLS	C	0.07%	0.03%	0.03%
FMC	B	0.09%	0.03%	0.03%
FNF	B	0.18%	0.02%	0.02%
FOXA	B	0.1%	0.03%	0.03%
FRT	C	0.11%	0.02%	0.02%
GIS	B	0.47%	0.04%	0.04%
GL	D	0.11%	0.02%	0.02%
GLPI	C	0.15%	0.03%	0.03%
GPC	D	0.22%	0.02%	0.02%
GPN	D	0.32%	0.02%	0.02%
GXO	D	0.07%	0.02%	0.02%
H	B	0.07%	0.02%	0.02%
HAL	F	0.29%	0.06%	0.06%
HAS	B	0.01%	0.01%	0.01%
HBAN	B	0.24%	0.02%	0.02%
HES	F	0.15%	0.02%	0.02%
HIG	B	0.38%	0.03%	0.03%
HII	F	0.12%	0.01%	0.01%
HIW	C	0.04%	0.01%	0.01%
HPQ	C	0.29%	0.04%	0.04%
HR	B	0.08%	0.02%	0.02%
HRB	C	0.08%	0.03%	0.03%
HRL	F	0.1%	0.01%	0.01%
HST	D	0.15%	0.03%	0.03%
HSY	D	0.28%	0.01%	0.01%
HUBB	B	0.26%	0.01%	0.01%
HUM	F	0.42%	0.01%	0.01%
HUN	C	0.04%	0.02%	0.02%
IEX	C	0.18%	0.05%	0.05%
IFF	A	0.3%	0.02%	0.02%
ILMN	D	0.24%	0.03%	0.03%
INGR	B	0.1%	0.03%	0.03%
INVH	D	0.25%	0.04%	0.04%
IPG	C	0.13%	0.02%	0.02%
JBL	C	0.13%	0.03%	0.03%
JEF	C	0.09%	0.02%	0.02%
JNPR	A	0.14%	0.03%	0.03%
K	A	0.24%	0.02%	0.02%
KEX	C	0.08%	0.03%	0.03%
KEY	C	0.18%	0.02%	0.02%
KEYS	B	0.3%	0.03%	0.03%
KIM	C	0.17%	0.02%	0.02%
KMI	C	0.48%	0.01%	0.01%
KMPR	D	0.04%	0.01%	0.01%
KR	B	0.42%	0.01%	0.01%
KRC	C	0.05%	0.02%	0.02%
KSS	D	0.02%	0.03%	0.02%
L	D	0.16%	0.04%	0.04%
LAZ	B	0.0%	0.02%	0.0%
LDOS	A	0.24%	0.05%	0.05%
LEA	D	0.07%	0.02%	0.02%
LEG	D	0.02%	0.02%	0.02%
LEN	B	0.49%	0.01%	0.01%
LEN	B	0.02%	0.01%	0.01%
LH	D	0.21%	0.01%	0.01%
LHX	C	0.5%	0.01%	0.01%
LNC	C	0.06%	0.02%	0.02%
LNT	A	0.17%	0.01%	0.01%
LUV	C	0.2%	0.01%	0.01%
LYB	D	0.28%	0.03%	0.03%
MAA	C	0.21%	0.01%	0.01%
MAS	B	0.2%	0.02%	0.02%
MHK	B	0.09%	0.02%	0.02%
MKC	C	0.24%	0.01%	0.01%
MKL	C	0.17%	0.01%	0.01%
MLM	D	0.36%	0.01%	0.01%
MOS	F	0.09%	0.04%	0.04%
MRO	D	0.18%	0.05%	0.05%
MTB	C	0.34%	0.04%	0.04%
NDAQ	C	0.35%	0.03%	0.03%
NEU	D	0.04%	0.01%	0.01%
NFG	B	0.06%	0.01%	0.01%
NI	B	0.17%	0.03%	0.03%
NNN	B	0.1%	0.01%	0.01%
NOV	F	0.08%	0.02%	0.02%
NTAP	D	0.16%	0.03%	0.03%
NTRS	C	0.21%	0.02%	0.02%
NUE	D	0.4%	0.02%	0.02%
NVR	B	0.31%	0.05%	0.05%
NVT	C	0.13%	0.02%	0.02%
O	B	0.61%	0.03%	0.03%
OC	C	0.17%	0.02%	0.02%
OGE	B	0.09%	0.01%	0.01%
OHI	C	0.11%	0.01%	0.01%
OKE	C	0.62%	0.01%	0.01%
OMC	B	0.22%	0.03%	0.03%
OSK	F	0.07%	0.02%	0.02%
OTIS	B	0.44%	0.04%	0.04%
PCG	C	0.48%	0.01%	0.01%
PEG	B	0.49%	0.01%	0.01%
PFG	B	0.22%	0.02%	0.02%
PHM	B	0.33%	0.03%	0.03%
PKG	B	0.21%	0.02%	0.02%
PNR	B	0.18%	0.01%	0.01%
PNW	C	0.12%	0.01%	0.01%
PPG	C	0.33%	0.02%	0.02%
PRU	C	0.49%	0.02%	0.02%
PWR	B	0.33%	0.05%	0.05%
QRVO	F	0.11%	0.05%	0.05%
R	C	0.07%	0.02%	0.02%
REG	C	0.15%	0.02%	0.02%
REXR	C	0.12%	0.01%	0.01%
RF	B	0.24%	0.03%	0.03%
RGA	C	0.16%	0.03%	0.03%
RJF	C	0.27%	0.07%	0.07%
RL	B	0.08%	0.03%	0.03%
RNR	B	0.15%	0.01%	0.01%
ROK	D	0.31%	0.01%	0.01%
ROST	C	0.44%	0.02%	0.02%
RPM	B	0.14%	0.03%	0.03%
RPRX	C	0.12%	0.02%	0.02%
RS	D	0.18%	0.02%	0.02%
RYN	C	0.05%	0.02%	0.02%
SF	B	0.1%	0.02%	0.02%
SJM	C	0.14%	0.03%	0.03%
SNA	B	0.17%	0.01%	0.01%
SNX	C	0.1%	0.03%	0.03%
SON	D	0.06%	0.03%	0.03%
SPG	B	0.45%	0.01%	0.01%
STE	B	0.26%	0.05%	0.05%
STLD	C	0.2%	0.02%	0.02%
STT	B	0.3%	0.01%	0.01%
SUI	C	0.2%	0.01%	0.01%
SWK	B	0.19%	0.03%	0.03%
SWKS	F	0.18%	0.03%	0.03%
SYF	C	0.23%	0.03%	0.03%
SYY	C	0.16%	0.05%	0.05%
TDY	B	0.23%	0.03%	0.03%
THG	C	0.06%	0.01%	0.01%
TKR	C	0.06%	0.02%	0.02%
TRMB	C	0.16%	0.03%	0.03%
TSN	D	0.19%	0.06%	0.06%
TXT	D	0.19%	0.01%	0.01%
UAL	B	0.19%	0.01%	0.01%
UDR	C	0.17%	0.01%	0.01%
UHS	C	0.16%	0.04%	0.04%
UNM	B	0.12%	0.02%	0.02%
URI	B	0.45%	0.04%	0.04%
VFC	B	0.07%	0.03%	0.03%
VMC	C	0.28%	0.02%	0.02%
VNO	B	0.08%	0.02%	0.02%
VNT	F	0.06%	0.03%	0.03%
VOYA	B	0.09%	0.02%	0.02%
VRSN	C	0.16%	0.04%	0.04%
VTR	C	0.28%	0.02%	0.02%
VTRS	D	0.15%	0.04%	0.04%
WAB	B	0.35%	0.04%	0.04%
WBA	F	0.07%	0.02%	0.02%
WBS	C	0.09%	0.02%	0.02%
WEC	B	0.34%	0.01%	0.01%
WHR	C	0.06%	0.01%	0.01%
WLK	C	0.05%	0.01%	0.01%
WMB	C	0.62%	0.01%	0.01%
WPC	C	0.15%	0.02%	0.02%
WTFC	C	0.08%	0.01%	0.01%
WTRG	D	0.11%	0.03%	0.03%
WU	C	0.03%	0.02%	0.02%
WY	C	0.27%	0.01%	0.01%
XEL	B	0.4%	0.01%	0.01%
XRAY	D	0.06%	0.04%	0.04%
XYL	C	0.37%	0.02%	0.02%
ZBH	F	0.25%	0.05%	0.05%
ZION	D	0.08%	0.03%	0.03%

IWS Overweight 440 Positions Relative to VCIT

Symbol	Grade	Weight
AJG	D	0.63%
KVUE	B	0.5%
MCHP	D	0.46%
AME	C	0.45%
CNC	D	0.45%
IQV	D	0.44%
IR	B	0.44%
CTSH	B	0.43%
FERG	D	0.42%
HWM	B	0.42%
CBRE	B	0.42%
BKR	C	0.41%
GEHC	B	0.41%
GLW	B	0.39%
VICI	C	0.39%
CSGP	D	0.35%
MTD	C	0.34%
ON	D	0.34%
WTW	B	0.33%
ANSS	D	0.32%
PAYX	C	0.31%
GRMN	D	0.3%
FTV	C	0.3%
HLT	B	0.3%
RCL	B	0.3%
FE	B	0.29%
FSLR	C	0.29%
TTWO	D	0.29%
SBAC	C	0.29%
RMD	C	0.29%
HPE	C	0.28%
SW	B	0.28%
FCNCA	D	0.27%
TROW	C	0.27%
PPL	A	0.27%
SQ	D	0.25%
WDC	C	0.25%
YUM	B	0.25%
MSTR	C	0.24%
BLDR	C	0.24%
COO	C	0.24%
WBD	D	0.23%
LNG	D	0.23%
BALL	C	0.23%
EQT	C	0.22%
TRU	B	0.22%
AVTR	C	0.21%
J	A	0.21%
HOLX	D	0.21%
CCL	C	0.21%
CTRA	F	0.2%
ZM	C	0.2%
MSCI	C	0.2%
WRB	D	0.19%
IP	C	0.19%
WSO	C	0.19%
THC	C	0.18%
SSNC	C	0.18%
ZBRA	B	0.17%
CF	B	0.17%
VLTO	B	0.17%
CDW	D	0.17%
AKAM	D	0.17%
HOOD	C	0.17%
RVTY	B	0.17%
TOL	A	0.17%
UTHR	B	0.17%
JBHT	D	0.16%
EG	B	0.16%
IBKR	B	0.16%
GGG	C	0.16%
USFD	C	0.16%
GEN	A	0.16%
IRM	C	0.16%
NDSN	C	0.16%
EXPD	B	0.16%
ELS	D	0.15%
BMRN	F	0.15%
ACM	B	0.15%
TECH	C	0.14%
CVNA	B	0.14%
EME	B	0.14%
CW	B	0.14%
CLH	C	0.14%
JKHY	B	0.14%
FFIV	B	0.14%
KMX	D	0.13%
CASY	D	0.13%
RRX	C	0.13%
SCI	C	0.13%
EWBC	C	0.13%
TFX	B	0.13%
FDS	C	0.13%
COHR	C	0.13%
FTI	D	0.13%
BLD	C	0.13%
ITT	B	0.13%
EPAM	F	0.12%
FWONK	C	0.12%
CHK	C	0.12%
ATR	B	0.12%
AFRM	D	0.12%
NLY	B	0.12%
CRL	F	0.12%
LKQ	F	0.12%
Z	C	0.12%
NTNX	D	0.12%
FBIN	B	0.12%
BJ	D	0.12%
OVV	F	0.12%
NRG	B	0.12%
DKS	D	0.12%
CTLT	B	0.12%
CACI	B	0.12%
CCK	B	0.12%
MTCH	C	0.11%
DPZ	D	0.11%
RGLD	C	0.11%
WAL	B	0.11%
TAP	D	0.11%
MKTX	D	0.11%
CG	C	0.11%
TTEK	C	0.11%
RIVN	F	0.11%
SOLV	D	0.11%
TPR	A	0.11%
INCY	C	0.11%
ARMK	B	0.11%
AOS	B	0.11%
NWSA	D	0.11%
ALB	D	0.11%
PFGC	B	0.11%
WWD	C	0.11%
CIEN	B	0.1%
CHRD	F	0.1%
AA	C	0.1%
JLL	B	0.1%
TWLO	C	0.1%
MGM	D	0.1%
DCI	C	0.1%
X	F	0.1%
LAMR	B	0.1%
NYT	B	0.1%
FYBR	C	0.1%
ORI	B	0.1%
TTC	F	0.1%
WST	D	0.1%
PRI	B	0.1%
GPK	C	0.1%
CZR	C	0.1%
EGP	C	0.1%
APA	F	0.1%
EHC	B	0.1%
HSIC	C	0.1%
EVR	B	0.1%
WYNN	C	0.09%
BWXT	A	0.09%
MOH	D	0.09%
SKX	C	0.09%
MIDD	C	0.09%
HLI	C	0.09%
COKE	C	0.09%
DTM	C	0.09%
PNFP	C	0.09%
WEX	C	0.09%
WSM	C	0.09%
AGNC	B	0.09%
WAT	B	0.09%
KBR	D	0.09%
ACI	F	0.09%
EXAS	D	0.09%
CHE	C	0.09%
GWRE	B	0.09%
ALGN	D	0.09%
ATI	C	0.09%
GMED	D	0.09%
BRBR	B	0.09%
DAY	D	0.09%
MTZ	C	0.09%
ALSN	B	0.09%
FCN	C	0.09%
FND	C	0.09%
AXTA	B	0.09%
AR	C	0.09%
APG	F	0.09%
COLD	D	0.09%
LAD	B	0.09%
PTC	C	0.09%
GME	D	0.09%
ALLY	F	0.09%
ROKU	D	0.09%
KNX	C	0.09%
TKO	A	0.09%
RBC	B	0.09%
TW	B	0.09%
CRUS	D	0.08%
OKTA	F	0.08%
CFR	C	0.08%
MSA	D	0.08%
RHI	D	0.08%
CROX	C	0.08%
G	C	0.08%
BFAM	C	0.08%
RGEN	F	0.08%
SEIC	B	0.08%
JAZZ	D	0.08%
GNTX	D	0.08%
SAIC	C	0.08%
MKSI	F	0.08%
ELAN	D	0.08%
ACHC	D	0.08%
SOFI	D	0.08%
FICO	B	0.08%
STAG	D	0.08%
PR	F	0.08%
RRC	D	0.08%
SSD	C	0.08%
DINO	F	0.08%
ONTO	C	0.08%
CART	C	0.08%
WCC	C	0.08%
FR	C	0.08%
SWN	C	0.08%
CBSH	D	0.08%
LECO	D	0.08%
CR	B	0.08%
ESI	C	0.07%
MTSI	C	0.07%
DAR	F	0.07%
GWW	B	0.07%
AGCO	D	0.07%
RLI	B	0.07%
ESAB	C	0.07%
OLLI	C	0.07%
SIRI	C	0.07%
PARA	D	0.07%
IVZ	B	0.07%
FAST	C	0.07%
AZPN	B	0.07%
LFUS	C	0.07%
LW	D	0.07%
BPOP	C	0.07%
BIO	C	0.07%
LSTR	D	0.07%
SNV	D	0.07%
CGNX	F	0.07%
MTG	B	0.07%
STWD	B	0.07%
PB	D	0.07%
MAT	D	0.07%
BBWI	D	0.07%
WMS	D	0.07%
OLED	D	0.06%
FOX	B	0.06%
W	C	0.06%
CCCS	D	0.06%
JHG	B	0.06%
LINE	F	0.06%
OGN	D	0.06%
HXL	F	0.06%
ALK	B	0.06%
LBRDK	C	0.06%
UGI	B	0.06%
FNB	D	0.06%
ROIV	D	0.06%
IDA	B	0.06%
WSC	D	0.06%
OLN	D	0.06%
THO	C	0.06%
ST	D	0.06%
COIN	F	0.06%
PVH	D	0.06%
KD	F	0.06%
COLB	B	0.06%
MDU	B	0.06%
OMF	D	0.06%
WH	B	0.06%
SN	B	0.06%
S	D	0.06%
VMI	C	0.06%
POST	B	0.06%
MTDR	F	0.06%
SRCL	B	0.06%
RITM	D	0.06%
IAC	C	0.05%
UHAL	B	0.05%
GAP	F	0.05%
AMP	B	0.05%
LITE	B	0.05%
RH	C	0.05%
DBX	C	0.05%
BILL	D	0.05%
SITE	D	0.05%
M	F	0.05%
GNRC	D	0.05%
DLB	D	0.05%
SLGN	B	0.05%
CPRI	D	0.05%
EEFT	F	0.05%
WTM	F	0.05%
PII	D	0.05%
ASH	F	0.05%
CUZ	C	0.05%
BYD	C	0.05%
FRPT	C	0.05%
PSN	B	0.05%
OZK	F	0.05%
DOCS	B	0.05%
HOG	C	0.05%
SAIA	D	0.05%
SLM	C	0.05%
IRDM	C	0.04%
AMED	D	0.04%
AM	B	0.04%
ZG	C	0.04%
PAYC	D	0.04%
SMG	B	0.04%
ZI	D	0.04%
NXST	D	0.04%
NWS	D	0.04%
NVST	D	0.04%
VNOM	D	0.04%
PK	D	0.04%
NSA	C	0.04%
PLNT	C	0.04%
SPR	D	0.04%
LBTYK	B	0.04%
MPW	C	0.04%
DNB	D	0.04%
U	D	0.04%
LBTYA	B	0.04%
COTY	D	0.04%
MAN	C	0.04%
MSGS	B	0.04%
AMKR	F	0.04%
GTES	C	0.04%
CLF	F	0.04%
TYL	C	0.04%
PRGO	F	0.04%
TPG	C	0.04%
AWI	B	0.04%
MSM	D	0.04%
ALNY	C	0.04%
GFS	F	0.04%
CIVI	F	0.04%
BROS	D	0.03%
JWN	C	0.03%
ENOV	F	0.03%
YETI	D	0.03%
HHH	C	0.03%
CRI	D	0.03%
BOKF	C	0.03%
CWEN	A	0.03%
QDEL	D	0.03%
SHC	C	0.03%
VIRT	C	0.03%
SPB	B	0.03%
MASI	C	0.03%
ULTA	D	0.03%
VAC	D	0.03%
CC	D	0.03%
RKT	C	0.03%
BRKR	D	0.03%
AZTA	F	0.03%
COLM	C	0.03%
SEE	C	0.03%
ALGM	D	0.03%
CLVT	D	0.03%
LOPE	D	0.03%
CNM	F	0.03%
CXT	F	0.03%
PAG	D	0.03%
CNXC	F	0.03%
FHB	D	0.03%
PENN	D	0.03%
NWL	C	0.03%
TNL	C	0.03%
LCID	C	0.03%
LYFT	D	0.02%
UAA	C	0.02%
TRIP	F	0.02%
WEN	C	0.02%
UA	C	0.02%
GO	F	0.02%
PPC	D	0.02%
INFA	D	0.02%
TER	C	0.02%
REYN	C	0.02%
MP	C	0.02%
BIRK	F	0.02%
FTRE	F	0.02%
GLOB	D	0.02%
SAM	D	0.02%
PSTG	F	0.02%
IPGP	D	0.02%
LLYVK	B	0.02%
QS	F	0.02%
VSTS	D	0.02%
AZEK	C	0.02%
LPX	B	0.02%
PINC	D	0.02%
HAYW	C	0.02%
ADT	D	0.02%
ETSY	D	0.02%
RCM	C	0.02%
IONS	F	0.01%
UI	B	0.01%
PLTK	C	0.01%
CACC	F	0.01%
TFSL	D	0.01%
LBRDA	C	0.01%
PATH	D	0.01%
LLYVA	B	0.01%
TXG	D	0.01%
AS	C	0.01%
PYCR	D	0.01%
CAR	D	0.01%
SEB	D	0.01%
LSCC	D	0.01%
NCNO	F	0.01%
WOLF	F	0.01%
CWEN	A	0.01%
HCP	A	0.01%
ALAB	C	0.01%
FWONA	C	0.01%
DV	F	0.01%
FIVE	D	0.01%
MTN	D	0.01%
DDS	D	0.01%
CERT	F	0.01%
EXEL	C	0.01%
SNDR	B	0.01%
SEG	F	0.0%
LOAR	C	0.0%
PARAA	D	0.0%
DJT	F	0.0%
NFE	F	0.0%
UWMC	D	0.0%
UHAL	B	0.0%
GRAL	F	0.0%

IWS Underweight 223 Positions Relative to VCIT

Symbol	Grade	Weight
DT	C	-0.28%
MSFT	C	-0.23%
WIT	C	-0.15%
ABBV	B	-0.13%
AXP	B	-0.11%
AMZN	C	-0.09%
TMUS	B	-0.09%
NOW	C	-0.07%
MET	B	-0.07%
DB	B	-0.07%
CRM	C	-0.07%
COST	C	-0.07%
BABA	B	-0.07%
VRSK	D	-0.06%
REGN	D	-0.06%
KOF	D	-0.06%
NVDA	C	-0.06%
MRK	F	-0.06%
BMO	C	-0.05%
ARCC	A	-0.05%
SLB	F	-0.05%
EOG	D	-0.05%
CTAS	C	-0.05%
TD	C	-0.05%
NEM	C	-0.05%
ADBE	F	-0.05%
PH	B	-0.05%
EXPE	C	-0.05%
AZN	D	-0.05%
PYPL	B	-0.05%
HCA	B	-0.05%
INTC	D	-0.05%
NWG	B	-0.05%
QCOM	D	-0.05%
T	B	-0.05%
GS	B	-0.05%
PSX	F	-0.04%
DHR	B	-0.04%
ITW	B	-0.04%
KLAC	D	-0.04%
LVS	C	-0.04%
LMT	A	-0.04%
MPC	F	-0.04%
ADI	C	-0.04%
PAA	D	-0.04%
LRCX	D	-0.04%
ADP	C	-0.04%
AER	C	-0.04%
AMAT	D	-0.04%
BLK	B	-0.04%
MPLX	B	-0.04%
PG	C	-0.04%
NKE	D	-0.04%
ET	C	-0.04%
MMC	C	-0.04%
GOOGL	D	-0.04%
GSK	D	-0.04%
DELL	C	-0.04%
CARR	B	-0.04%
GE	C	-0.04%
VOD	C	-0.04%
VZ	A	-0.04%
LLY	D	-0.03%
MRVL	D	-0.03%
ADSK	B	-0.03%
BNS	B	-0.03%
TSCO	B	-0.03%
SBRA	C	-0.03%
LIN	B	-0.03%
HP	F	-0.03%
JD	A	-0.03%
EW	F	-0.03%
ETN	C	-0.03%
CNO	C	-0.03%
CME	B	-0.03%
AAT	C	-0.03%
BDN	C	-0.03%
TEL	D	-0.03%
WB	C	-0.03%
SCS	D	-0.03%
TT	B	-0.03%
AZO	B	-0.03%
VLO	F	-0.03%
MU	D	-0.03%
ICE	C	-0.03%
FLEX	B	-0.03%
TMO	B	-0.03%
UPS	D	-0.03%
NXPI	D	-0.03%
SRE	B	-0.03%
V	C	-0.03%
MA	B	-0.03%
HD	B	-0.03%
AMT	C	-0.03%
ROP	C	-0.03%
BKNG	B	-0.03%
EPD	C	-0.03%
COF	B	-0.03%
BDX	D	-0.03%
MUFG	D	-0.03%
DIS	D	-0.03%
PFE	D	-0.03%
KDP	B	-0.03%
BMY	C	-0.03%
BA	F	-0.03%
TME	D	-0.02%
SKT	B	-0.02%
SITC	D	-0.02%
SAFE	C	-0.02%
BKU	D	-0.02%
EPRT	B	-0.02%
FTNT	B	-0.02%
NHI	C	-0.02%
DSS	F	-0.02%
FSK	A	-0.02%
LII	C	-0.02%
MDT	B	-0.02%
MCY	C	-0.02%
PDM	C	-0.02%
PRE	F	-0.02%
MCO	C	-0.02%
INTU	D	-0.02%
JCI	B	-0.02%
SPGI	C	-0.02%
EL	D	-0.02%
TXN	B	-0.02%
ZTS	B	-0.02%
CP	C	-0.02%
BIDU	C	-0.02%
PM	C	-0.02%
MMM	B	-0.02%
KMB	C	-0.02%
ESGR	D	-0.02%
EQIX	B	-0.02%
FDX	D	-0.02%
APD	B	-0.02%
CAT	B	-0.02%
SYK	C	-0.02%
MSI	B	-0.02%
CSX	C	-0.02%
APH	C	-0.02%
TGT	C	-0.02%
UNP	D	-0.02%
SO	B	-0.02%
PEP	D	-0.02%
GM	C	-0.02%
TFC	D	-0.02%
STZ	C	-0.02%
SHW	B	-0.02%
SBUX	C	-0.02%
NOC	B	-0.02%
MDLZ	C	-0.02%
ABT	C	-0.02%
AIG	D	-0.02%
MO	C	-0.02%
CVS	D	-0.02%
ORCL	B	-0.02%
CI	C	-0.02%
CMCSA	C	-0.02%
C	C	-0.02%
GBDC	C	-0.01%
SAVE	F	-0.01%
OCSL	D	-0.01%
GOOG	D	-0.01%
PSEC	C	-0.01%
OGS	B	-0.01%
KRG	C	-0.01%
CBT	B	-0.01%
KMT	B	-0.01%
LXP	C	-0.01%
OPI	F	-0.01%
NSC	C	-0.01%
HPP	F	-0.01%
BKH	B	-0.01%
SWX	C	-0.01%
PSA	C	-0.01%
GP	D	-0.01%
PGR	C	-0.01%
CLX	C	-0.01%
TJX	C	-0.01%
EMR	D	-0.01%
ORLY	B	-0.01%
AEP	C	-0.01%
RSG	D	-0.01%
WELL	C	-0.01%
DE	A	-0.01%
GD	C	-0.01%
WM	D	-0.01%
PLD	C	-0.01%
CB	B	-0.01%
USB	C	-0.01%
AON	B	-0.01%
ECL	B	-0.01%
D	C	-0.01%
CVX	F	-0.01%
DUK	B	-0.01%
WRK	C	-0.01%
KO	B	-0.01%
BSX	B	-0.01%
SCHW	D	-0.01%
MAR	B	-0.01%
MCD	B	-0.01%
JNJ	C	-0.01%
GILD	B	-0.01%
EQH	C	-0.01%
AMGN	D	-0.01%
LOW	B	-0.01%
PNC	C	-0.01%
HON	C	-0.01%
COP	F	-0.01%
UNH	C	-0.01%
XOM	D	-0.01%
NEE	B	-0.01%
AAPL	C	-0.01%
IBM	B	-0.01%
WMT	B	-0.01%
MS	B	-0.01%
WFC	D	-0.01%
RTX	B	-0.01%
HSBC	B	-0.01%
JPM	D	-0.01%
AVGO	C	-0.01%
BAC	D	-0.01%