MODL vs. INRO ETF Comparison

Comparison of VictoryShares WestEnd U.S. Sector ETF (MODL) to BlackRock U.S. Industry Rotation ETF (INRO)

MODL

VictoryShares WestEnd U.S. Sector ETF

MODL Description

VictoryShares WestEnd U.S. Sector ETF is an exchange traded fund launched and managed by Victory Capital Management Inc. The fund is co-managed by WestEnd Advisors, LLC. It invests in public equity markets of the United States. It invests through other funds in stocks of companies operating across consumer discretionary, consumer staples, health care, financials, information technology, real estate, communication services, and utilities sectors. The fund invests in growth and value stocks of companies across diversified market capitalization. It employs fundamental analysis with top-down stock picking approach to create its portfolio. VictoryShares WestEnd U.S. Sector ETF was formed on October 11, 2022 and is domiciled in the United States.

Grade (RS Rating)

Last Trade

$40.73

Average Daily Volume

26,985

Number of Holdings ^*

316

* may have additional holdings in another (foreign) market

INRO

BlackRock U.S. Industry Rotation ETF

INRO Description

INRO is targeted US equity exposure, actively managed by shifting the selection and weighting of the portfolio towards industries among the broad domestic market. Portfolio allocation is based on five potential sources of return: information regarding the current economic cycle, valuation, quality metrics, analyst expectation data and recent individual industry trends. The strategy aims to capture the potential alpha from the dispersion between industry allocations and the broad market. During temporary defensive periods, the fund may depart from this principal investment strategy to invest 100% of the portfolio in liquid, short-term securities. The fund may engage in active and frequent trading. Derivatives may also be used to seek returns or hedge exposure. Up to one-third of the value of the funds assets may be lending.

Grade (RS Rating)

Last Trade

$28.39

Average Daily Volume

3,548

Number of Holdings ^*

429

* may have additional holdings in another (foreign) market

Performance

Period	MODL	INRO
30 Days	2.91%	5.09%
60 Days	4.12%	6.25%
90 Days	5.95%	7.10%
12 Months	30.78%

212 Overlapping Holdings

Symbol	Grade	Weight in MODL	Weight in INRO	Overlap
A	D	0.13%	0.05%	0.05%
AAPL	C	4.85%	5.76%	4.85%
ABBV	D	1.05%	0.39%	0.39%
ACGL	D	0.1%	0.05%	0.05%
ACN	C	0.31%	0.07%	0.07%
ADBE	C	0.42%	0.32%	0.32%
ADI	D	0.14%	0.22%	0.14%
ADSK	A	0.11%	0.09%	0.09%
AFL	B	0.16%	0.09%	0.09%
AIG	B	0.14%	0.09%	0.09%
AJG	B	0.18%	0.1%	0.1%
ALL	A	0.15%	0.08%	0.08%
ALNY	D	0.11%	0.04%	0.04%
AMAT	F	0.2%	0.3%	0.2%
AMD	F	0.32%	0.47%	0.32%
AMGN	D	0.54%	0.2%	0.2%
AMP	A	0.31%	0.19%	0.19%
AMZN	C	3.64%	1.47%	1.47%
ANSS	B	0.06%	0.05%	0.05%
AON	A	0.23%	0.11%	0.11%
APH	A	0.12%	0.19%	0.12%
APO	B	0.18%	0.01%	0.01%
APP	B	0.12%	0.1%	0.1%
ARES	A	0.18%	0.12%	0.12%
AVGO	D	1.06%	1.54%	1.06%
AVTR	F	0.05%	0.02%	0.02%
AXP	A	0.56%	1.14%	0.56%
AZO	C	0.1%	0.15%	0.1%
BAC	A	1.02%	0.81%	0.81%
BBY	D	0.03%	0.05%	0.03%
BEN	C	0.04%	0.03%	0.03%
BIIB	F	0.08%	0.03%	0.03%
BK	A	0.33%	0.11%	0.11%
BMRN	D	0.04%	0.02%	0.02%
BMY	B	0.41%	0.11%	0.11%
BRK.A	B	0.65%	0.06%	0.06%
BRK.A	B	1.72%	0.06%	0.06%
BRO	B	0.07%	0.04%	0.04%
BSY	D	0.01%	0.01%	0.01%
BX	A	0.76%	0.45%	0.45%
C	A	0.37%	0.34%	0.34%
CB	C	0.33%	0.17%	0.17%
CBOE	B	0.12%	0.04%	0.04%
CDNS	B	0.15%	0.12%	0.12%
CDW	F	0.03%	0.05%	0.03%
CFG	B	0.06%	0.06%	0.06%
CINF	A	0.07%	0.04%	0.04%
CME	A	0.48%	0.3%	0.3%
COF	B	0.19%	0.48%	0.19%
COIN	C	0.37%	0.2%	0.2%
COST	B	1.6%	0.47%	0.47%
CRM	B	0.54%	0.45%	0.45%
CRWD	B	0.16%	0.12%	0.12%
CTSH	B	0.05%	0.01%	0.01%
DDOG	A	0.07%	0.06%	0.06%
DELL	C	0.05%	0.07%	0.05%
DFS	B	0.12%	0.29%	0.12%
DG	F	0.07%	0.02%	0.02%
DHI	D	0.09%	0.33%	0.09%
DHR	F	0.54%	0.19%	0.19%
DLTR	F	0.06%	0.01%	0.01%
DT	C	0.03%	0.03%	0.03%
EBAY	D	0.06%	0.02%	0.02%
EG	C	0.03%	0.03%	0.03%
ENPH	F	0.01%	0.02%	0.01%
ENTG	D	0.02%	0.03%	0.02%
F	C	0.08%	0.06%	0.06%
FCNCA	A	0.06%	0.05%	0.05%
FDS	B	0.11%	0.08%	0.08%
FI	A	0.34%	0.01%	0.01%
FICO	B	0.1%	0.08%	0.08%
FIS	C	0.14%	0.01%	0.01%
FITB	A	0.09%	0.08%	0.08%
FSLR	F	0.03%	0.04%	0.03%
FTNT	C	0.1%	0.08%	0.08%
GDDY	A	0.04%	0.01%	0.01%
GEN	B	0.02%	0.02%	0.02%
GILD	C	0.42%	0.14%	0.14%
GLW	B	0.05%	0.09%	0.05%
GM	B	0.12%	0.09%	0.09%
GOOG	C	1.97%	2.72%	1.97%
GOOGL	C	2.21%	3.13%	2.21%
GRMN	B	0.06%	0.22%	0.06%
GS	A	1.05%	0.64%	0.64%
HBAN	A	0.07%	0.07%	0.07%
HD	A	0.8%	1.17%	0.8%
HIG	B	0.1%	0.05%	0.05%
HPE	B	0.04%	0.05%	0.04%
HPQ	B	0.05%	0.06%	0.05%
HUBS	A	0.07%	0.05%	0.05%
IBM	C	0.26%	0.06%	0.06%
ICE	C	0.52%	0.33%	0.33%
ILMN	D	0.08%	0.03%	0.03%
INCY	C	0.05%	0.02%	0.02%
INTC	D	0.15%	0.22%	0.15%
INTU	C	0.35%	0.26%	0.26%
IOT	A	0.0%	0.02%	0.0%
IQV	D	0.12%	0.05%	0.05%
IT	C	0.05%	0.02%	0.02%
JBL	B	0.02%	0.03%	0.02%
JNJ	D	1.33%	0.37%	0.37%
JPM	A	1.89%	1.74%	1.74%
KEYS	A	0.04%	0.06%	0.04%
KKR	A	0.59%	0.31%	0.31%
KLAC	D	0.12%	0.17%	0.12%
KR	B	0.14%	0.05%	0.05%
L	A	0.04%	0.03%	0.03%
LEN	D	0.0%	0.28%	0.0%
LEN	D	0.08%	0.28%	0.08%
LLY	F	2.3%	0.57%	0.57%
LOW	D	0.3%	0.43%	0.3%
LPLA	A	0.13%	0.08%	0.08%
LRCX	F	0.13%	0.19%	0.13%
MA	C	1.21%	0.04%	0.04%
MANH	D	0.01%	0.03%	0.01%
MCHP	D	0.05%	0.08%	0.05%
MCO	B	0.5%	0.28%	0.28%
MDB	C	0.03%	0.01%	0.01%
MET	A	0.14%	0.08%	0.08%
META	D	2.64%	3.68%	2.64%
MKL	A	0.06%	0.04%	0.04%
MMC	B	0.31%	0.16%	0.16%
MO	A	0.33%	0.41%	0.33%
MPWR	F	0.04%	0.06%	0.04%
MRK	F	0.88%	0.24%	0.24%
MRNA	F	0.05%	0.02%	0.02%
MRVL	B	0.11%	0.16%	0.11%
MS	A	0.94%	0.55%	0.55%
MSCI	C	0.26%	0.16%	0.16%
MSFT	F	5.77%	4.24%	4.24%
MSTR	C	0.12%	0.1%	0.1%
MTB	A	0.1%	0.09%	0.09%
MTD	D	0.09%	0.03%	0.03%
MU	D	0.15%	0.23%	0.15%
NDAQ	A	0.15%	0.14%	0.14%
NET	B	0.04%	0.01%	0.01%
NOW	A	0.37%	0.3%	0.3%
NTAP	C	0.03%	0.04%	0.03%
NTRS	A	0.12%	0.1%	0.1%
NVDA	C	4.61%	7.62%	4.61%
NVR	D	0.05%	0.21%	0.05%
ON	D	0.04%	0.06%	0.04%
ORCL	B	0.53%	0.45%	0.45%
ORLY	B	0.13%	0.21%	0.13%
PANW	C	0.22%	0.18%	0.18%
PFE	D	0.51%	0.14%	0.14%
PFG	D	0.06%	0.04%	0.04%
PGR	A	0.42%	0.23%	0.23%
PHM	D	0.05%	0.18%	0.05%
PINS	D	0.04%	0.05%	0.04%
PLTR	B	0.19%	0.18%	0.18%
PM	B	0.66%	0.87%	0.66%
PNC	B	0.23%	0.21%	0.21%
PRU	A	0.13%	0.07%	0.07%
PSTG	D	0.02%	0.03%	0.02%
PTC	A	0.04%	0.04%	0.04%
PYPL	B	0.24%	0.01%	0.01%
QCOM	F	0.25%	0.39%	0.25%
REGN	F	0.3%	0.11%	0.11%
RF	A	0.07%	0.07%	0.07%
RJF	A	0.17%	0.13%	0.13%
ROP	B	0.11%	0.09%	0.09%
ROST	C	0.09%	0.14%	0.09%
RPRX	D	0.04%	0.01%	0.01%
RVTY	F	0.05%	0.02%	0.02%
SCHW	B	0.76%	0.41%	0.41%
SMCI	F	0.02%	0.03%	0.02%
SNAP	C	0.02%	0.03%	0.02%
SNOW	C	0.06%	0.01%	0.01%
SNPS	B	0.15%	0.12%	0.12%
SPGI	C	0.93%	0.55%	0.55%
STT	A	0.16%	0.05%	0.05%
STX	D	0.03%	0.03%	0.03%
SWKS	F	0.02%	0.03%	0.02%
SYF	B	0.07%	0.18%	0.07%
SYY	B	0.13%	0.04%	0.04%
TDY	B	0.03%	0.04%	0.03%
TEAM	A	0.06%	0.06%	0.06%
TER	D	0.02%	0.03%	0.02%
TFC	A	0.17%	0.17%	0.17%
TGT	F	0.27%	0.08%	0.08%
TJX	A	0.26%	0.39%	0.26%
TMO	F	0.69%	0.24%	0.24%
TMUS	B	0.24%	4.56%	0.24%
TRMB	B	0.02%	0.04%	0.02%
TROW	B	0.15%	0.05%	0.05%
TRV	B	0.17%	0.09%	0.09%
TSCO	D	0.06%	0.09%	0.06%
TSLA	B	1.86%	1.32%	1.32%
TXN	C	0.26%	0.39%	0.26%
TYL	B	0.05%	0.04%	0.04%
ULTA	F	0.03%	0.05%	0.03%
UNH	C	1.99%	0.01%	0.01%
USB	A	0.22%	0.2%	0.2%
V	A	1.47%	0.04%	0.04%
VRSN	F	0.02%	0.01%	0.01%
VRTX	F	0.44%	0.15%	0.15%
VTRS	A	0.06%	0.01%	0.01%
WAT	B	0.08%	0.03%	0.03%
WBA	F	0.02%	0.0%	0.0%
WDAY	B	0.1%	0.08%	0.08%
WDC	D	0.03%	0.04%	0.03%
WFC	A	0.69%	0.64%	0.64%
WMT	A	1.32%	0.45%	0.45%
WRB	A	0.05%	0.03%	0.03%
WSM	B	0.03%	0.05%	0.03%
WST	C	0.08%	0.03%	0.03%
WTW	B	0.09%	0.05%	0.05%
ZBRA	B	0.03%	0.04%	0.03%
ZM	B	0.03%	0.03%	0.03%
ZS	C	0.03%	0.03%	0.03%
ZTS	D	0.29%	0.08%	0.08%

MODL Overweight 104 Positions Relative to INRO

Symbol	Grade	Weight
PG	A	1.54%
KO	D	0.92%
BLK	C	0.9%
NFLX	A	0.77%
PEP	F	0.76%
ABT	B	0.72%
ISRG	A	0.69%
SYK	C	0.5%
BSX	B	0.48%
DIS	B	0.43%
MDT	D	0.4%
MCD	D	0.4%
VZ	C	0.37%
CMCSA	B	0.34%
T	A	0.34%
ELV	F	0.33%
BKNG	A	0.32%
MCK	B	0.32%
CI	F	0.32%
CSCO	B	0.31%
CL	D	0.28%
MDLZ	F	0.27%
CVS	D	0.24%
HCA	F	0.23%
BDX	F	0.22%
SBUX	A	0.21%
NKE	D	0.17%
KMB	D	0.17%
KVUE	A	0.16%
EW	C	0.15%
COR	B	0.15%
CMG	B	0.15%
SQ	B	0.14%
MNST	C	0.14%
STZ	D	0.14%
IDXX	F	0.13%
HLT	A	0.13%
RMD	C	0.13%
MAR	B	0.13%
GEHC	F	0.13%
KHC	F	0.13%
ANET	C	0.13%
VEEV	C	0.12%
HUM	C	0.12%
GIS	D	0.12%
CAH	B	0.11%
DXCM	D	0.11%
CNC	D	0.11%
KDP	D	0.11%
ABNB	C	0.11%
MSI	B	0.11%
TTD	B	0.11%
ADM	D	0.1%
DASH	A	0.1%
RCL	A	0.1%
CHD	B	0.1%
HSY	F	0.09%
CHTR	C	0.08%
CLX	B	0.08%
GPN	B	0.08%
ZBH	C	0.08%
EA	A	0.08%
K	A	0.08%
DGX	A	0.07%
PODD	C	0.07%
TTWO	A	0.07%
CPAY	A	0.07%
STE	F	0.07%
LH	C	0.07%
YUM	B	0.07%
ALGN	D	0.06%
LW	C	0.06%
BAX	D	0.06%
TSN	B	0.06%
EL	F	0.06%
MOH	F	0.06%
LULU	C	0.06%
MKC	D	0.06%
HOLX	D	0.06%
CCL	B	0.05%
WBD	C	0.05%
DECK	A	0.05%
RBLX	C	0.05%
JKHY	D	0.04%
DRI	B	0.04%
LVS	C	0.04%
DKNG	B	0.04%
OMC	C	0.04%
LYV	A	0.04%
EXPE	B	0.04%
POOL	C	0.03%
APTV	D	0.03%
HRL	D	0.03%
DPZ	C	0.03%
GPC	D	0.03%
OKTA	C	0.02%
MGM	D	0.02%
AKAM	D	0.02%
CELH	F	0.02%
CRBG	B	0.02%
FOXA	B	0.02%
IPG	D	0.02%
NTNX	A	0.01%
FOX	A	0.01%

MODL Underweight 219 Positions Relative to INRO

Symbol	Grade	Weight
HON	B	-1.6%
BXP	D	-1.35%
NEE	D	-0.97%
XOM	B	-0.95%
CBRE	B	-0.87%
MMM	D	-0.76%
TT	A	-0.65%
CSGP	D	-0.63%
SO	D	-0.6%
VMC	B	-0.59%
MLM	B	-0.57%
UNP	C	-0.54%
DUK	C	-0.54%
CVX	A	-0.5%
UBER	D	-0.49%
ETN	A	-0.48%
URI	B	-0.47%
CEG	D	-0.45%
GWW	B	-0.44%
CARR	D	-0.42%
FAST	B	-0.4%
JCI	C	-0.39%
WM	A	-0.37%
PWR	A	-0.37%
CAT	B	-0.35%
CTAS	B	-0.34%
AEP	D	-0.32%
GEV	B	-0.31%
ADP	B	-0.29%
PCG	A	-0.26%
EXC	C	-0.25%
CSX	B	-0.25%
Z	A	-0.25%
XEL	A	-0.24%
EMR	A	-0.24%
COP	C	-0.24%
NSC	B	-0.22%
WCN	A	-0.21%
CPRT	A	-0.21%
EIX	B	-0.21%
DE	A	-0.2%
RSG	A	-0.2%
ETR	B	-0.2%
VST	B	-0.19%
EME	C	-0.19%
WELL	A	-0.18%
PH	A	-0.17%
ODFL	B	-0.16%
WSO	A	-0.16%
VRT	B	-0.16%
EOG	A	-0.15%
AME	A	-0.15%
FE	C	-0.15%
BLDR	D	-0.15%
ITW	B	-0.15%
ES	D	-0.14%
LII	A	-0.14%
CSL	C	-0.14%
WMB	A	-0.13%
SW	A	-0.13%
FCX	D	-0.12%
MAS	D	-0.12%
OC	A	-0.12%
NXPI	D	-0.12%
OKE	A	-0.12%
NRG	B	-0.12%
EVRG	A	-0.11%
PAYX	C	-0.11%
LNT	A	-0.11%
VLTO	D	-0.11%
PCAR	B	-0.11%
AMT	D	-0.11%
NEM	D	-0.11%
ACM	A	-0.11%
CMI	A	-0.1%
PKG	A	-0.1%
KMI	A	-0.1%
PSX	C	-0.1%
MPC	D	-0.1%
ROK	B	-0.1%
EQIX	A	-0.1%
IP	B	-0.09%
LNG	B	-0.09%
VRSK	A	-0.09%
SLB	C	-0.09%
BR	A	-0.08%
TRGP	B	-0.08%
EFX	F	-0.08%
OTIS	C	-0.08%
HUBB	B	-0.08%
IR	B	-0.08%
GE	D	-0.08%
VLO	C	-0.08%
ALLE	D	-0.08%
BALL	D	-0.08%
PSA	D	-0.07%
BKR	B	-0.07%
WAB	B	-0.07%
MELI	D	-0.07%
AMCR	D	-0.07%
HES	B	-0.07%
DLR	B	-0.07%
AVY	D	-0.07%
CCI	D	-0.06%
JBHT	C	-0.06%
XYL	D	-0.06%
VTR	C	-0.06%
HOOD	B	-0.06%
AOS	F	-0.06%
OXY	D	-0.06%
FANG	D	-0.06%
ROL	B	-0.06%
FBIN	D	-0.06%
RTX	C	-0.06%
TW	A	-0.06%
LMT	D	-0.05%
PPL	B	-0.05%
ATO	A	-0.05%
LDOS	C	-0.05%
CG	A	-0.05%
CCK	C	-0.05%
FTV	C	-0.05%
BURL	A	-0.05%
TPL	A	-0.05%
KEY	B	-0.05%
DOV	A	-0.05%
VICI	C	-0.05%
PNR	A	-0.04%
SNA	A	-0.04%
ARE	D	-0.04%
UPS	C	-0.04%
J	F	-0.04%
MKTX	D	-0.04%
HAL	C	-0.04%
DVN	F	-0.04%
EQT	B	-0.04%
IRM	D	-0.04%
BA	F	-0.04%
BAH	F	-0.04%
EXR	D	-0.04%
TRU	D	-0.04%
SWK	D	-0.03%
MRO	B	-0.03%
PAYC	B	-0.03%
DAY	B	-0.03%
NDSN	B	-0.03%
GD	F	-0.03%
CTRA	B	-0.03%
SBAC	D	-0.03%
NOC	D	-0.03%
DOC	D	-0.03%
TDG	D	-0.03%
WY	D	-0.03%
GGG	B	-0.03%
LIN	D	-0.03%
DAL	C	-0.03%
IEX	B	-0.03%
AES	F	-0.03%
SSNC	B	-0.03%
DKS	C	-0.03%
KMX	B	-0.03%
KNX	B	-0.03%
NBIX	C	-0.02%
LUV	C	-0.02%
TTC	D	-0.02%
DINO	D	-0.02%
SEIC	B	-0.02%
ERIE	D	-0.02%
AXON	A	-0.02%
AIZ	A	-0.02%
ALLY	C	-0.02%
HWM	A	-0.02%
AFG	A	-0.02%
UHAL	D	-0.02%
UTHR	C	-0.02%
BBWI	D	-0.02%
CNH	C	-0.02%
LHX	C	-0.02%
MTCH	D	-0.02%
OVV	B	-0.02%
FDX	B	-0.02%
DOCU	A	-0.02%
GLPI	C	-0.02%
CPT	B	-0.01%
CTVA	C	-0.01%
APD	A	-0.01%
SUI	D	-0.01%
DOW	F	-0.01%
ACI	C	-0.01%
SHW	A	-0.01%
STLD	B	-0.01%
TXT	D	-0.01%
ESS	B	-0.01%
RS	B	-0.01%
MAA	B	-0.01%
HEI	B	-0.01%
INVH	D	-0.01%
EPAM	C	-0.01%
TWLO	A	-0.01%
BIO	D	-0.01%
CTLT	B	-0.01%
DD	D	-0.01%
APA	D	-0.01%
RIVN	F	-0.01%
EQR	B	-0.01%
EXAS	D	-0.01%
NUE	C	-0.01%
CRL	C	-0.01%
AVB	B	-0.01%
QRVO	F	-0.01%
TECH	D	-0.01%
CHRD	D	-0.01%
LYB	F	-0.0%
HII	D	-0.0%
ECL	D	-0.0%
CHRW	C	-0.0%
FNF	B	-0.0%
HEI	B	-0.0%
EXPD	D	-0.0%