IWS vs. VYM ETF Comparison

Comparison of iShares Russell Mid-cap Value ETF (IWS) to Vanguard High Dividend Yield ETF - DNQ (VYM)

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

VYM

Vanguard High Dividend Yield ETF - DNQ

VYM Description

The investment seeks to track the performance of a benchmark index that measures the investment return of common stocks of companies that are characterized by high dividend yield. The fund employs an indexing investment approach designed to track the performance of the FTSE® High Dividend Yield Index, which consists of common stocks of companies that pay dividends that generally are higher than average. 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

$133.62

Average Daily Volume

791,255

Number of Holdings ^*

529

* may have additional holdings in another (foreign) market

Performance

Period	IWS	VYM
30 Days	5.17%	3.01%
60 Days	5.63%	4.74%
90 Days	7.53%	6.95%
12 Months	31.74%	30.40%

248 Overlapping Holdings

	Symbol	Grade	Weight in IWS	Weight in VYM	Overlap
	AAP	C	0.02%	0.01%	0.01%
	ACI	C	0.09%	0.04%	0.04%
	ADM	D	0.28%	0.15%	0.15%
	AEE	A	0.27%	0.13%	0.13%
	AES	F	0.11%	0.07%	0.07%
	AFG	A	0.11%	0.05%	0.05%
	AFL	B	0.68%	0.33%	0.33%
	AGCO	D	0.06%	0.04%	0.04%
	AGO	B	0.05%	0.02%	0.02%
	AGR	B	0.03%	0.01%	0.01%
	AIZ	A	0.13%	0.06%	0.06%
	AL	B	0.06%	0.03%	0.03%
	ALL	A	0.48%	0.28%	0.28%
	ALLY	C	0.1%	0.05%	0.05%
	AM	A	0.04%	0.03%	0.03%
	AMP	A	0.06%	0.29%	0.06%
	APA	D	0.09%	0.05%	0.05%
	ATO	A	0.24%	0.12%	0.12%
	AVT	C	0.05%	0.03%	0.03%
	AWK	D	0.29%	0.15%	0.15%
	AXS	A	0.07%	0.03%	0.03%
	BAX	D	0.18%	0.1%	0.1%
	BBWI	D	0.08%	0.04%	0.04%
	BBY	D	0.22%	0.11%	0.11%
	BC	C	0.06%	0.03%	0.03%
	BEN	C	0.07%	0.03%	0.03%
	BERY	B	0.08%	0.05%	0.05%
	BG	F	0.14%	0.07%	0.07%
	BK	A	0.64%	0.32%	0.32%
	BKR	B	0.47%	0.22%	0.22%
	BOKF	B	0.03%	0.01%	0.01%
	BPOP	B	0.07%	0.04%	0.04%
	CAG	D	0.14%	0.08%	0.08%
	CAH	B	0.13%	0.15%	0.13%
	CBSH	A	0.09%	0.04%	0.04%
	CC	C	0.03%	0.02%	0.02%
	CE	F	0.07%	0.06%	0.06%
	CF	B	0.18%	0.08%	0.08%
	CFG	B	0.23%	0.11%	0.11%
	CFR	B	0.09%	0.04%	0.04%
	CG	A	0.12%	0.06%	0.06%
	CHRD	D	0.09%	0.04%	0.04%
	CHRW	C	0.14%	0.07%	0.07%
	CINF	A	0.26%	0.12%	0.12%
	CIVI	D	0.04%	0.03%	0.03%
	CMA	A	0.1%	0.05%	0.05%
	CMI	A	0.54%	0.25%	0.25%
	CMS	C	0.22%	0.12%	0.12%
	CNA	B	0.01%	0.01%	0.01%
	CNH	C	0.1%	0.06%	0.06%
	CNP	B	0.21%	0.11%	0.11%
	COLB	A	0.07%	0.03%	0.03%
	CPB	D	0.09%	0.05%	0.05%
	CRI	D	0.02%	0.01%	0.01%
	CTRA	B	0.21%	0.1%	0.1%
	CWEN	C	0.01%	0.01%	0.01%
	CWEN	C	0.01%	0.01%	0.01%
	CWEN	C	0.03%	0.01%	0.01%
	CWEN	C	0.03%	0.01%	0.01%
	CXT	B	0.03%	0.02%	0.02%
	DD	D	0.38%	0.2%	0.2%
	DDS	B	0.01%	0.01%	0.01%
	DFS	B	0.48%	0.21%	0.21%
	DGX	A	0.2%	0.1%	0.1%
	DINO	D	0.07%	0.03%	0.03%
	DKS	C	0.11%	0.06%	0.06%
	DNB	B	0.04%	0.02%	0.02%
	DOW	F	0.34%	0.2%	0.2%
	DOX	D	0.11%	0.06%	0.06%
	DRI	B	0.1%	0.11%	0.1%
	DTE	C	0.27%	0.15%	0.15%
	DTM	B	0.11%	0.05%	0.05%
	DVN	F	0.27%	0.14%	0.14%
	EBAY	D	0.34%	0.16%	0.16%
	ED	D	0.37%	0.2%	0.2%
	EG	C	0.15%	0.09%	0.09%
	EIX	B	0.35%	0.18%	0.18%
	EMN	D	0.13%	0.07%	0.07%
	EQT	B	0.26%	0.12%	0.12%
	ES	D	0.24%	0.13%	0.13%
	ETR	B	0.35%	0.19%	0.19%
	EVR	B	0.12%	0.05%	0.05%
	EVRG	A	0.16%	0.08%	0.08%
	EWBC	A	0.16%	0.08%	0.08%
	EXC	C	0.43%	0.22%	0.22%
	FAF	A	0.07%	0.04%	0.04%
	FANG	D	0.37%	0.19%	0.19%
	FAST	B	0.08%	0.25%	0.08%
	FE	C	0.26%	0.14%	0.14%
	FHB	A	0.04%	0.02%	0.02%
	FHN	A	0.12%	0.05%	0.05%
	FIS	C	0.54%	0.29%	0.29%
	FITB	A	0.35%	0.17%	0.17%
	FLO	D	0.04%	0.02%	0.02%
	FLS	B	0.09%	0.04%	0.04%
	FMC	D	0.07%	0.05%	0.05%
	FNB	A	0.06%	0.03%	0.03%
	FNF	B	0.18%	0.09%	0.09%
	FOX	A	0.06%	0.03%	0.03%
	FOXA	B	0.12%	0.05%	0.05%
	GAP	C	0.05%	0.02%	0.02%
	GEN	B	0.18%	0.09%	0.09%
	GIS	D	0.39%	0.22%	0.22%
	GLW	B	0.39%	0.21%	0.21%
	GPC	D	0.19%	0.09%	0.09%
	GRMN	B	0.36%	0.17%	0.17%
	HAL	C	0.29%	0.14%	0.14%
	HAS	D	0.01%	0.05%	0.01%
	HBAN	A	0.28%	0.13%	0.13%
	HIG	B	0.38%	0.18%	0.18%
	HII	D	0.08%	0.04%	0.04%
	HLI	B	0.1%	0.05%	0.05%
	HOG	D	0.04%	0.02%	0.02%
	HPE	B	0.3%	0.14%	0.14%
	HPQ	B	0.3%	0.2%	0.2%
	HRB	D	0.07%	0.05%	0.05%
	HRL	D	0.09%	0.05%	0.05%
	HSY	F	0.24%	0.15%	0.15%
	HUBB	B	0.26%	0.13%	0.13%
	HUN	F	0.04%	0.02%	0.02%
	IDA	A	0.07%	0.03%	0.03%
	IFF	D	0.24%	0.14%	0.14%
	INGR	B	0.1%	0.05%	0.05%
	IP	B	0.22%	0.11%	0.11%
	IPG	D	0.11%	0.06%	0.06%
	IRDM	D	0.03%	0.02%	0.02%
	IVZ	B	0.07%	0.04%	0.04%
	JEF	A	0.1%	0.06%	0.06%
	JHG	A	0.06%	0.03%	0.03%
	JNPR	F	0.13%	0.07%	0.07%
	JWN	C	0.03%	0.01%	0.01%
	K	A	0.23%	0.12%	0.12%
	KEY	B	0.2%	0.09%	0.09%
	KMI	A	0.58%	0.27%	0.27%
	KMPR	B	0.05%	0.02%	0.02%
	KR	B	0.42%	0.21%	0.21%
	KSS	F	0.02%	0.01%	0.01%
	LEA	D	0.06%	0.03%	0.03%
	LEG	F	0.02%	0.01%	0.01%
	LHX	C	0.51%	0.27%	0.27%
	LKQ	D	0.11%	0.05%	0.05%
	LNC	B	0.07%	0.03%	0.03%
	LNT	A	0.17%	0.09%	0.09%
	LUV	C	0.21%	0.1%	0.1%
	LYB	F	0.24%	0.13%	0.13%
	M	D	0.05%	0.02%	0.02%
	MAN	D	0.03%	0.02%	0.02%
	MCHP	D	0.37%	0.22%	0.22%
	MDU	D	0.04%	0.03%	0.03%
	MKC	D	0.21%	0.11%	0.11%
	MOS	F	0.09%	0.05%	0.05%
	MRO	B	0.18%	0.09%	0.09%
	MSM	C	0.04%	0.02%	0.02%
	MTB	A	0.39%	0.18%	0.18%
	MTG	C	0.07%	0.04%	0.04%
	MTN	C	0.01%	0.04%	0.01%
	NFE	D	0.0%	0.0%	0.0%
	NFG	A	0.06%	0.03%	0.03%
	NI	A	0.18%	0.09%	0.09%
	NRG	B	0.12%	0.11%	0.11%
	NTAP	C	0.15%	0.13%	0.13%
	NTRS	A	0.24%	0.11%	0.11%
	NVT	B	0.13%	0.07%	0.07%
	NWL	B	0.04%	0.02%	0.02%
	NXST	C	0.03%	0.03%	0.03%
	OGE	B	0.09%	0.05%	0.05%
	OGN	D	0.04%	0.03%	0.03%
	OKE	A	0.7%	0.32%	0.32%
	OMC	C	0.21%	0.11%	0.11%
	OMF	A	0.07%	0.03%	0.03%
	ORI	A	0.1%	0.05%	0.05%
	OSK	B	0.08%	0.04%	0.04%
	OVV	B	0.13%	0.06%	0.06%
	OZK	B	0.06%	0.03%	0.03%
	PAG	B	0.03%	0.02%	0.02%
	PARA	C	0.07%	0.03%	0.03%
	PAYX	C	0.32%	0.25%	0.25%
	PB	A	0.08%	0.04%	0.04%
	PEG	A	0.49%	0.25%	0.25%
	PFG	D	0.22%	0.11%	0.11%
	PII	D	0.04%	0.02%	0.02%
	PINC	B	0.03%	0.01%	0.01%
	PKG	A	0.23%	0.11%	0.11%
	PNW	B	0.11%	0.06%	0.06%
	PPG	F	0.32%	0.16%	0.16%
	PPL	B	0.27%	0.14%	0.14%
	PR	B	0.08%	0.05%	0.05%
	PRGO	B	0.04%	0.02%	0.02%
	PRU	A	0.5%	0.25%	0.25%
	R	B	0.08%	0.04%	0.04%
	REYN	D	0.02%	0.01%	0.01%
	RF	A	0.27%	0.12%	0.12%
	RGA	A	0.17%	0.08%	0.08%
	RHI	B	0.08%	0.04%	0.04%
	RL	B	0.09%	0.05%	0.05%
	RLI	B	0.08%	0.04%	0.04%
	ROK	B	0.33%	0.17%	0.17%
	RPM	A	0.15%	0.09%	0.09%
	RPRX	D	0.11%	0.06%	0.06%
	RRC	B	0.09%	0.04%	0.04%
	RS	B	0.2%	0.09%	0.09%
	SEE	C	0.03%	0.03%	0.03%
	SF	B	0.13%	0.06%	0.06%
	SIRI	C	0.07%	0.04%	0.04%
	SJM	D	0.12%	0.07%	0.07%
	SLM	A	0.06%	0.03%	0.03%
	SMG	D	0.04%	0.02%	0.02%
	SNA	A	0.2%	0.1%	0.1%
	SNV	B	0.09%	0.04%	0.04%
	SON	D	0.05%	0.03%	0.03%
	SPB	C	0.03%	0.01%	0.01%
	STT	A	0.32%	0.16%	0.16%
	SWK	D	0.14%	0.08%	0.08%
	SWKS	F	0.15%	0.08%	0.08%
	SYF	B	0.28%	0.12%	0.12%
	SYY	B	0.16%	0.21%	0.16%
	TAP	C	0.12%	0.05%	0.05%
	TFSL	A	0.01%	0.0%	0.0%
	THG	A	0.06%	0.03%	0.03%
	TNL	A	0.04%	0.02%	0.02%
	TPG	A	0.05%	0.03%	0.03%
	TPR	B	0.14%	0.06%	0.06%
	TROW	B	0.29%	0.14%	0.14%
	TSN	B	0.2%	0.09%	0.09%
	UGI	A	0.06%	0.03%	0.03%
	UI	A	0.01%	0.01%	0.01%
	UNM	A	0.15%	0.07%	0.07%
	VAC	B	0.03%	0.02%	0.02%
	VFC	C	0.08%	0.04%	0.04%
	VIRT	B	0.03%	0.01%	0.01%
	VOYA	B	0.09%	0.05%	0.05%
	VTRS	A	0.17%	0.08%	0.08%
	WAL	B	0.11%	0.05%	0.05%
	WBA	F	0.07%	0.04%	0.04%
	WBS	A	0.11%	0.05%	0.05%
	WEC	A	0.34%	0.17%	0.17%
	WEN	D	0.02%	0.02%	0.02%
	WH	B	0.07%	0.04%	0.04%
	WHR	B	0.07%	0.03%	0.03%
	WMB	A	0.76%	0.36%	0.36%
	WRB	A	0.2%	0.1%	0.1%
	WSM	B	0.07%	0.1%	0.07%
	WSO	A	0.2%	0.09%	0.09%
	WTRG	B	0.11%	0.06%	0.06%
	WU	D	0.03%	0.02%	0.02%
	XEL	A	0.43%	0.21%	0.21%
	YUM	B	0.26%	0.21%	0.21%
	ZION	B	0.1%	0.04%	0.04%

IWS Overweight 461 Positions Relative to VYM

	Symbol	Grade	Weight
	AJG	B	0.65%
	DLR	B	0.64%
	MSTR	C	0.55%
	O	D	0.54%
	DHI	D	0.53%
	CCI	D	0.5%
	KVUE	A	0.5%
	AME	A	0.49%
	PCG	A	0.49%
	SPG	B	0.48%
	HWM	A	0.47%
	EA	A	0.47%
	URI	B	0.46%
	DAL	C	0.45%
	IR	B	0.45%
	CBRE	B	0.44%
	OTIS	C	0.44%
	LEN	D	0.44%
	CTVA	C	0.43%
	FERG	B	0.42%
	CTSH	B	0.42%
	A	D	0.41%
	CHTR	C	0.4%
	ACGL	D	0.4%
	NUE	C	0.39%
	ROST	C	0.39%
	RCL	A	0.39%
	WAB	B	0.38%
	EXR	D	0.38%
	HUM	C	0.37%
	GEHC	F	0.37%
	MLM	B	0.37%
	NDAQ	A	0.36%
	AVB	B	0.36%
	PWR	A	0.36%
	VICI	C	0.36%
	WTW	B	0.35%
	TTWO	A	0.34%
	IQV	D	0.34%
	GPN	B	0.33%
	HLT	A	0.33%
	UAL	A	0.33%
	CNC	D	0.33%
	RJF	A	0.33%
	CSGP	D	0.32%
	ANSS	B	0.32%
	XYL	D	0.32%
	ON	D	0.31%
	EQR	B	0.31%
	SQ	B	0.3%
	VMC	B	0.3%
	DOV	A	0.3%
	KEYS	A	0.29%
	FTV	C	0.29%
	FCNCA	A	0.29%
	PHM	D	0.29%
	CHD	B	0.29%
	SW	A	0.29%
	VTR	C	0.28%
	NVR	D	0.28%
	CCL	B	0.27%
	EFX	F	0.27%
	RMD	C	0.27%
	MTD	D	0.27%
	BIIB	F	0.26%
	SBAC	D	0.26%
	LNG	B	0.26%
	WBD	C	0.25%
	WY	D	0.25%
	ZBH	C	0.25%
	ZM	B	0.24%
	HOOD	B	0.24%
	EXE	B	0.24%
	ILMN	D	0.24%
	LDOS	C	0.24%
	TDY	B	0.24%
	STE	F	0.24%
	WDC	D	0.23%
	INVH	D	0.23%
	STLD	B	0.23%
	CBOE	B	0.23%
	LH	C	0.22%
	FSLR	F	0.22%
	BALL	D	0.21%
	IBKR	A	0.21%
	BLDR	D	0.21%
	ESS	B	0.21%
	MSCI	C	0.21%
	COO	D	0.21%
	HOLX	D	0.2%
	ARE	D	0.2%
	MAA	B	0.2%
	CVNA	B	0.19%
	TRMB	B	0.19%
	MAS	D	0.19%
	IEX	B	0.19%
	J	F	0.19%
	TRU	D	0.19%
	PNR	A	0.19%
	CSL	C	0.19%
	KIM	A	0.18%
	DG	F	0.18%
	OC	A	0.18%
	MKL	A	0.18%
	L	A	0.17%
	SUI	D	0.17%
	ZBRA	B	0.17%
	TOL	B	0.17%
	SSNC	B	0.17%
	TXT	D	0.17%
	UTHR	C	0.17%
	EXPD	D	0.16%
	IRM	D	0.16%
	VRSN	F	0.16%
	HES	B	0.16%
	APTV	D	0.16%
	NDSN	B	0.16%
	UDR	B	0.16%
	ACM	A	0.16%
	DOC	D	0.16%
	BRO	B	0.16%
	USFD	A	0.16%
	THC	D	0.16%
	AMCR	D	0.16%
	JBHT	C	0.16%
	GGG	B	0.16%
	TWLO	A	0.15%
	RNR	C	0.15%
	RVTY	F	0.15%
	REG	B	0.15%
	CW	B	0.15%
	VLTO	D	0.15%
	FFIV	B	0.15%
	EME	C	0.15%
	AVTR	F	0.15%
	BXP	D	0.14%
	CPT	B	0.14%
	ITT	A	0.14%
	COHR	B	0.14%
	JKHY	D	0.14%
	CLH	B	0.14%
	AMH	D	0.14%
	GLPI	C	0.14%
	DLTR	F	0.14%
	AFRM	B	0.14%
	JBL	B	0.14%
	ELS	C	0.14%
	AKAM	D	0.14%
	INCY	C	0.13%
	KMX	B	0.13%
	BJ	A	0.13%
	Z	A	0.13%
	UHS	D	0.13%
	CDW	F	0.13%
	FDS	B	0.13%
	SOFI	A	0.13%
	SCI	B	0.13%
	BMRN	D	0.13%
	HST	C	0.13%
	FTI	A	0.13%
	NTNX	A	0.13%
	WPC	D	0.13%
	ALB	C	0.13%
	EPAM	C	0.13%
	ALLE	D	0.13%
	CASY	A	0.13%
	TECH	D	0.12%
	CCK	C	0.12%
	CTLT	B	0.12%
	CUBE	D	0.12%
	FWONK	B	0.12%
	NWSA	B	0.12%
	PFGC	B	0.12%
	ATR	B	0.12%
	AA	B	0.12%
	RRX	B	0.12%
	CRL	C	0.11%
	CIEN	B	0.11%
	COIN	C	0.11%
	GL	B	0.11%
	MKTX	D	0.11%
	DPZ	C	0.11%
	EHC	B	0.11%
	ARMK	B	0.11%
	AVY	D	0.11%
	OHI	C	0.11%
	NLY	C	0.11%
	GME	C	0.11%
	AYI	B	0.11%
	BLD	D	0.11%
	DAY	B	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%
	BRX	A	0.1%
	AOS	F	0.1%
	MGM	D	0.1%
	SNX	C	0.1%
	KNX	B	0.1%
	AAL	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%
	REXR	F	0.1%
	GMED	A	0.1%
	FBIN	D	0.1%
	RGLD	C	0.1%
	BWXT	B	0.1%
	DCI	B	0.1%
	FRT	B	0.1%
	SOLV	C	0.1%
	BRBR	A	0.1%
	PNFP	B	0.1%
	BWA	D	0.09%
	G	B	0.09%
	MTCH	D	0.09%
	SEIC	B	0.09%
	CZR	F	0.09%
	X	C	0.09%
	APG	B	0.09%
	TKO	B	0.09%
	LECO	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%
	WTFC	A	0.09%
	DAR	C	0.08%
	ELAN	D	0.08%
	FCN	D	0.08%
	MTSI	B	0.08%
	GXO	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%
	VNO	B	0.08%
	KBR	F	0.08%
	MIDD	C	0.08%
	CART	C	0.08%
	SKX	D	0.08%
	COKE	C	0.08%
	MHK	D	0.08%
	LBRDK	C	0.08%
	LW	C	0.08%
	KEX	C	0.08%
	ROKU	D	0.08%
	CHE	D	0.08%
	ADC	B	0.08%
	JAZZ	B	0.08%
	NNN	D	0.08%
	VNT	B	0.07%
	RGEN	D	0.07%
	S	B	0.07%
	STWD	C	0.07%
	ARW	D	0.07%
	BIO	D	0.07%
	QRVO	F	0.07%
	COLD	D	0.07%
	MTDR	B	0.07%
	SAIC	F	0.07%
	MAT	D	0.07%
	NOV	C	0.07%
	MOH	F	0.07%
	MSA	D	0.07%
	ESI	A	0.07%
	KD	B	0.07%
	CGNX	C	0.07%
	LSTR	D	0.07%
	BILL	A	0.07%
	OKTA	C	0.07%
	STAG	F	0.07%
	MKSI	C	0.07%
	HR	C	0.07%
	WEX	D	0.07%
	AZPN	A	0.07%
	GWW	B	0.07%
	VMI	B	0.07%
	ALK	C	0.07%
	BYD	C	0.06%
	BFAM	D	0.06%
	POST	C	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%
	PVH	C	0.06%
	H	B	0.06%
	WMS	D	0.06%
	SAIA	B	0.06%
	ONTO	D	0.06%
	AMG	B	0.06%
	LFUS	F	0.06%
	GTES	A	0.05%
	DLB	B	0.05%
	PAYC	B	0.05%
	AN	C	0.05%
	WLK	D	0.05%
	EEFT	B	0.05%
	SLGN	A	0.05%
	RYN	D	0.05%
	AWI	A	0.05%
	PSN	D	0.05%
	WSC	D	0.05%
	DBX	B	0.05%
	KRC	C	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%
	TKR	D	0.05%
	ZG	A	0.04%
	ALNY	D	0.04%
	EPR	D	0.04%
	HIW	D	0.04%
	MASI	A	0.04%
	ACHC	F	0.04%
	UHAL	D	0.04%
	IAC	D	0.04%
	NVST	B	0.04%
	CLF	F	0.04%
	W	F	0.04%
	NWS	B	0.04%
	VNOM	A	0.04%
	XRAY	F	0.04%
	NEU	C	0.04%
	MSGS	A	0.04%
	DXC	B	0.04%
	PLNT	A	0.04%
	RH	B	0.04%
	OLED	D	0.04%
	TYL	B	0.04%
	ASH	D	0.04%
	LINE	F	0.04%
	SITE	D	0.04%
	GFS	C	0.04%
	HAYW	B	0.03%
	YETI	C	0.03%
	ULTA	F	0.03%
	ALGM	D	0.03%
	BR	A	0.03%
	CPRI	F	0.03%
	EXP	A	0.03%
	MP	B	0.03%
	ENOV	C	0.03%
	HHH	B	0.03%
	MPW	F	0.03%
	COTY	F	0.03%
	COLM	B	0.03%
	CNM	D	0.03%
	ECG	C	0.03%
	U	C	0.03%
	AMED	F	0.03%
	AMKR	D	0.03%
	NSA	D	0.03%
	PK	B	0.03%
	SNRE	D	0.03%
	LLYVK	A	0.03%
	BROS	B	0.03%
	SPR	D	0.03%
	AMTM	D	0.03%
	BHF	B	0.03%
	LOPE	B	0.03%
	PENN	C	0.03%
	ZI	D	0.03%
	TER	D	0.02%
	TRIP	F	0.02%
	SNDR	B	0.02%
	FTRE	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%
	LEN	D	0.02%
	ALAB	B	0.02%
	VSTS	C	0.02%
	CNXC	F	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%
	WOLF	F	0.01%
	LSCC	D	0.01%
	FIVE	F	0.01%
	HCP	B	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%
	LOAR	A	0.0%
	PARAA	B	0.0%
	UWMC	D	0.0%
	SEG	B	0.0%
	UHAL	D	0.0%
	GRAL	C	0.0%
	LAZ	B	0.0%
	IONS	F	0.0%

IWS Underweight 283 Positions Relative to VYM

	Symbol	Grade	Weight
	AVGO	D	-4.38%
	JPM	A	-3.61%
	XOM	B	-2.97%
	PG	A	-2.21%
	HD	A	-2.21%
	JNJ	D	-2.19%
	ABBV	D	-2.05%
	WMT	A	-2.02%
	BAC	A	-1.61%
	MRK	F	-1.47%
	KO	D	-1.44%
	CVX	A	-1.41%
	WFC	A	-1.29%
	PEP	F	-1.29%
	CSCO	B	-1.26%
	MCD	D	-1.19%
	PM	B	-1.17%
	ABT	B	-1.11%
	TXN	C	-1.05%
	CAT	B	-1.04%
	QCOM	F	-1.03%
	VZ	C	-1.01%
	IBM	C	-0.98%
	AMGN	D	-0.97%
	CMCSA	B	-0.95%
	GS	A	-0.93%
	T	A	-0.92%
	NEE	D	-0.92%
	PFE	D	-0.91%
	RTX	C	-0.91%
	LOW	D	-0.85%
	BLK	C	-0.82%
	UNP	C	-0.8%
	PGR	A	-0.8%
	HON	B	-0.76%
	MS	A	-0.76%
	ETN	A	-0.75%
	COP	C	-0.73%
	C	A	-0.7%
	BX	A	-0.67%
	ADP	B	-0.67%
	LMT	D	-0.66%
	CB	C	-0.65%
	MDT	D	-0.65%
	BMY	B	-0.64%
	ADI	D	-0.63%
	SBUX	A	-0.63%
	GILD	C	-0.63%
	SO	D	-0.57%
	UPS	C	-0.55%
	MO	A	-0.53%
	MDLZ	F	-0.52%
	CI	F	-0.5%
	DUK	C	-0.5%
	WM	A	-0.49%
	CME	A	-0.46%
	GD	F	-0.45%
	ITW	B	-0.44%
	CL	D	-0.43%
	APO	B	-0.42%
	PNC	B	-0.42%
	EOG	A	-0.4%
	MMM	D	-0.4%
	CVS	D	-0.4%
	APD	A	-0.39%
	TGT	F	-0.39%
	USB	A	-0.37%
	EMR	A	-0.35%
	FDX	B	-0.35%
	NXPI	D	-0.34%
	TFC	A	-0.33%
	TRV	B	-0.32%
	NSC	B	-0.32%
	SLB	C	-0.32%
	AEP	D	-0.3%
	NEM	D	-0.3%
	SRE	A	-0.3%
	PCAR	B	-0.3%
	JCI	C	-0.29%
	PSX	C	-0.29%
	MPC	D	-0.29%
	AIG	B	-0.28%
	D	C	-0.28%
	KMB	D	-0.26%
	MET	A	-0.26%
	VST	B	-0.24%
	F	C	-0.23%
	VLO	C	-0.23%
	TRGP	B	-0.21%
	KDP	D	-0.21%
	KHC	F	-0.17%
	ARES	A	-0.17%
	STX	D	-0.11%
	CCEP	C	-0.09%
	CLX	B	-0.09%
	EL	F	-0.09%
	EQH	B	-0.08%
	BAP	B	-0.07%
	CRBG	B	-0.05%
	SCCO	F	-0.05%
	ESNT	D	-0.04%
	ALV	C	-0.04%
	CRS	A	-0.04%
	XP	F	-0.04%
	SSB	B	-0.04%
	JXN	C	-0.04%
	SWX	B	-0.03%
	HWC	B	-0.03%
	NJR	A	-0.03%
	MUR	D	-0.03%
	FFIN	B	-0.03%
	MC	C	-0.03%
	KTB	B	-0.03%
	POR	C	-0.03%
	PIPR	B	-0.03%
	GATX	A	-0.03%
	UMBF	B	-0.03%
	UBSI	B	-0.03%
	HOMB	A	-0.03%
	RDN	C	-0.03%
	BCPC	B	-0.03%
	CBT	C	-0.03%
	GBCI	B	-0.03%
	ONB	B	-0.03%
	CADE	B	-0.03%
	CNS	B	-0.02%
	STNG	F	-0.02%
	LCII	C	-0.02%
	APAM	B	-0.02%
	MGRC	B	-0.02%
	TRN	C	-0.02%
	TGNA	B	-0.02%
	BOH	B	-0.02%
	NSP	D	-0.02%
	SFNC	B	-0.02%
	AVA	A	-0.02%
	TDS	B	-0.02%
	PBF	D	-0.02%
	PTEN	C	-0.02%
	CWT	D	-0.02%
	SLVM	B	-0.02%
	AWR	B	-0.02%
	FBP	B	-0.02%
	EBC	B	-0.02%
	SXT	B	-0.02%
	CATY	B	-0.02%
	CBU	B	-0.02%
	YOU	D	-0.02%
	OTTR	C	-0.02%
	HP	B	-0.02%
	SHOO	D	-0.02%
	NWE	B	-0.02%
	FULT	A	-0.02%
	MGEE	C	-0.02%
	IBOC	A	-0.02%
	AROC	B	-0.02%
	ABM	B	-0.02%
	BTU	B	-0.02%
	AUB	B	-0.02%
	LANC	C	-0.02%
	UCB	A	-0.02%
	SEM	B	-0.02%
	CCOI	B	-0.02%
	WD	D	-0.02%
	ASB	B	-0.02%
	GLNG	C	-0.02%
	CALM	A	-0.02%
	NOG	A	-0.02%
	CRC	B	-0.02%
	CNO	A	-0.02%
	SR	A	-0.02%
	KFY	B	-0.02%
	ALE	A	-0.02%
	PNM	F	-0.02%
	OGS	A	-0.02%
	BKH	A	-0.02%
	VLY	B	-0.02%
	AVNT	B	-0.02%
	SFBS	B	-0.02%
	MGY	A	-0.02%
	XRX	F	-0.01%
	JACK	D	-0.01%
	DK	C	-0.01%
	DAN	D	-0.01%
	WMK	C	-0.01%
	CBRL	C	-0.01%
	OXM	D	-0.01%
	KLG	C	-0.01%
	FDP	B	-0.01%
	SRCE	B	-0.01%
	SCS	C	-0.01%
	NAVI	C	-0.01%
	SAFT	C	-0.01%
	BHLB	B	-0.01%
	KALU	C	-0.01%
	KW	B	-0.01%
	UVV	B	-0.01%
	WOR	F	-0.01%
	EIG	B	-0.01%
	SFL	D	-0.01%
	BKE	B	-0.01%
	BLMN	F	-0.01%
	WABC	B	-0.01%
	CSGS	B	-0.01%
	HOPE	B	-0.01%
	HTH	B	-0.01%
	WT	B	-0.01%
	STBA	B	-0.01%
	TROX	D	-0.01%
	VRTS	B	-0.01%
	SASR	B	-0.01%
	AY	B	-0.01%
	NWN	A	-0.01%
	HMN	B	-0.01%
	BHE	B	-0.01%
	WKC	D	-0.01%
	UPBD	B	-0.01%
	MLKN	D	-0.01%
	WGO	C	-0.01%
	GEF	A	-0.01%
	LZB	B	-0.01%
	SYBT	B	-0.01%
	APOG	B	-0.01%
	FCF	A	-0.01%
	PDCO	D	-0.01%
	HEES	B	-0.01%
	TNC	D	-0.01%
	NWBI	B	-0.01%
	NTB	B	-0.01%
	CHCO	B	-0.01%
	PZZA	D	-0.01%
	WLY	B	-0.01%
	MCY	A	-0.01%
	WSBC	A	-0.01%
	GBX	A	-0.01%
	SJW	D	-0.01%
	SBLK	F	-0.01%
	STRA	C	-0.01%
	HI	C	-0.01%
	CABO	C	-0.01%
	KMT	B	-0.01%
	PHIN	A	-0.01%
	NMRK	B	-0.01%
	NBTB	B	-0.01%
	TRMK	B	-0.01%
	IBTX	B	-0.01%
	RNST	B	-0.01%
	VSH	D	-0.01%
	B	B	-0.01%
	FRME	B	-0.01%
	BANR	B	-0.01%
	BANF	B	-0.01%
	CAKE	C	-0.01%
	SBCF	A	-0.01%
	TOWN	B	-0.01%
	WAFD	B	-0.01%
	ENR	B	-0.01%
	HNI	B	-0.01%
	ADTN	A	-0.01%
	IGT	F	-0.01%
	PFS	B	-0.01%
	NOMD	D	-0.01%
	FFBC	A	-0.01%
	FIBK	A	-0.01%
	PPBI	B	-0.01%
	BFH	B	-0.01%
	PRK	B	-0.01%
	HTLF	B	-0.01%
	RRR	D	-0.01%
	JJSF	B	-0.01%
	CVBF	A	-0.01%
	ARCH	B	-0.01%
	BKU	A	-0.01%
	CPK	A	-0.01%
	INDB	B	-0.01%
	GES	F	-0.0%
	CVI	F	-0.0%
	RBCAA	B	-0.0%
	SCHL	D	-0.0%
	FG	B	-0.0%
	SSTK	F	-0.0%
	DLX	B	-0.0%
	MATV	D	-0.0%

IWS: Top Represented Industries & Keywords

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

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

VYM: Top Represented Industries & Keywords

Industries: Banks - Regional - US Asset Management Utilities - Regulated Electric Oil & Gas E&P Packaged Foods Insurance - Property & Casualty Utilities - Diversified Utilities - Regulated Gas Diversified Industrials Restaurants Specialty Chemicals Insurance - Life Oil & Gas Refining & Marketing Semiconductors Capital Markets Chemicals Credit Services Drug Manufacturers - Major Insurance - Diversified Packaging & Containers

Keywords: S&P 500 Bank Banking Natural Gas Insurance Deposit Products Electricity Commercial Banking Nasdaq 100 Real Estate Loans Investment Bank Investment Management Insurance Products Mining Chemical Commercial Bank Life Insurance Trust Services Cash Management Electronics