SSPY vs. VFMV ETF Comparison

Comparison of Syntax Stratified LargeCap ETF (SSPY) to Vanguard U.S. Minimum Volatility ETF (VFMV)

SSPY

Syntax Stratified LargeCap ETF

SSPY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies in the Syntax Stratified LargeCap Index (the "index"). Under normal market conditions, the fund generally invests substantially all, and at least 95% of its total assets in the securities comprising the index. The index, which was created by Syntax, LLC, an affiliate of the fund's investment adviser, is the stratified-weight version of the widely used S&P 500® Index and holds the same constituents as the S&P 500.

Grade (RS Rating)

Last Trade

$81.25

Average Daily Volume

2,386

Number of Holdings ^*

500

* may have additional holdings in another (foreign) market

VFMV

Vanguard U.S. Minimum Volatility ETF

VFMV Description

The investment seeks to provide long-term capital appreciation with lower volatility relative to the broad U.S. equity market. The fund invests primarily in a group of U.S. common stocks that together are deemed by the advisor to have the potential to generate lower volatility relative to the broad U.S. equity market. The portfolio will include a diverse mix of companies representing many different market sectors and industry groups. Under normal circumstances, at least 80% of the fund's assets will be invested in securities issued by U.S. companies.

Grade (RS Rating)

Last Trade

$125.76

Average Daily Volume

6,724

Number of Holdings ^*

165

* may have additional holdings in another (foreign) market

Performance

Period	SSPY	VFMV
30 Days	2.71%	2.93%
60 Days	2.03%	3.96%
90 Days	2.72%	4.73%
12 Months	22.62%	26.73%

92 Overlapping Holdings

Symbol	Grade	Weight in SSPY	Weight in VFMV	Overlap
AAPL	C	0.5%	0.54%	0.5%
ABBV	F	0.24%	0.74%	0.24%
ABT	B	0.06%	1.49%	0.06%
ACN	B	0.13%	0.2%	0.13%
ADI	D	0.22%	1.5%	0.22%
AEE	A	0.08%	0.19%	0.08%
AJG	A	0.03%	0.35%	0.03%
AKAM	D	0.27%	0.04%	0.04%
AMAT	F	0.18%	0.08%	0.08%
AMGN	F	0.24%	0.14%	0.14%
AVGO	D	0.23%	0.64%	0.23%
AZO	C	0.14%	0.34%	0.14%
BRK.A	B	0.5%	0.31%	0.31%
BSX	A	0.06%	0.75%	0.06%
CAH	B	0.19%	0.64%	0.19%
CB	C	0.14%	0.07%	0.07%
CBOE	C	0.04%	1.04%	0.04%
CHD	A	0.42%	1.44%	0.42%
CI	D	0.19%	0.11%	0.11%
CL	D	0.41%	1.05%	0.41%
CME	B	0.04%	1.14%	0.04%
CMS	C	0.08%	0.03%	0.03%
COR	B	0.18%	1.48%	0.18%
CSCO	B	0.21%	1.25%	0.21%
CTSH	B	0.13%	0.06%	0.06%
CVX	A	0.76%	0.9%	0.76%
DECK	A	0.3%	0.2%	0.2%
DTE	C	0.25%	0.03%	0.03%
DUK	C	0.07%	1.42%	0.07%
EA	A	0.49%	1.16%	0.49%
ED	C	0.24%	1.44%	0.24%
FANG	C	0.07%	0.3%	0.07%
FE	C	0.24%	0.77%	0.24%
GD	D	0.16%	1.14%	0.16%
GDDY	A	0.27%	0.46%	0.27%
GILD	C	0.25%	0.83%	0.25%
GIS	D	0.21%	1.0%	0.21%
GOOG	C	0.23%	0.48%	0.23%
GOOGL	C	0.23%	0.64%	0.23%
HOLX	D	0.1%	0.36%	0.1%
HPQ	B	0.35%	0.96%	0.35%
HSY	F	0.18%	0.36%	0.18%
IBM	C	0.34%	1.52%	0.34%
JNJ	C	0.24%	1.49%	0.24%
JPM	A	0.13%	0.05%	0.05%
KLAC	F	0.17%	0.07%	0.07%
KMI	A	0.25%	0.2%	0.2%
KO	D	0.25%	1.4%	0.25%
LIN	C	0.04%	0.24%	0.04%
LLY	F	0.23%	0.32%	0.23%
LMT	D	0.09%	1.47%	0.09%
MCD	D	0.5%	0.79%	0.5%
MCK	A	0.18%	1.52%	0.18%
MDLZ	F	0.18%	0.28%	0.18%
META	D	0.47%	0.47%	0.47%
MO	A	0.35%	0.24%	0.24%
MRK	D	0.24%	1.46%	0.24%
MSFT	D	0.32%	1.3%	0.32%
MSI	B	0.49%	0.03%	0.03%
MU	D	0.15%	0.02%	0.02%
NOC	D	0.09%	1.17%	0.09%
NTAP	C	0.17%	1.37%	0.17%
ORLY	B	0.14%	1.11%	0.14%
PEP	F	0.18%	0.04%	0.04%
PFE	F	0.24%	0.32%	0.24%
PG	C	0.42%	1.48%	0.42%
PGR	A	0.19%	1.48%	0.19%
PSX	C	0.51%	0.1%	0.1%
QCOM	F	0.22%	0.25%	0.22%
QRVO	F	0.21%	0.28%	0.21%
REGN	F	0.22%	1.12%	0.22%
ROL	B	0.18%	0.23%	0.18%
ROP	B	0.03%	1.33%	0.03%
RSG	A	0.18%	1.2%	0.18%
RTX	D	0.08%	1.06%	0.08%
SO	C	0.08%	1.38%	0.08%
T	A	0.33%	1.41%	0.33%
TJX	A	0.72%	1.27%	0.72%
TMUS	B	0.33%	1.43%	0.33%
TRV	B	0.14%	0.38%	0.14%
TXN	C	0.23%	1.48%	0.23%
TYL	B	0.22%	0.74%	0.22%
UNH	B	0.26%	0.75%	0.26%
V	A	0.04%	0.35%	0.04%
VRTX	D	0.23%	0.03%	0.03%
VZ	C	0.33%	1.0%	0.33%
WEC	A	0.07%	0.45%	0.07%
WM	B	0.18%	1.06%	0.18%
WMB	A	0.25%	0.37%	0.25%
WMT	A	0.73%	1.08%	0.73%
WTW	B	0.03%	0.93%	0.03%
XOM	B	0.77%	1.23%	0.77%

SSPY Overweight 408 Positions Relative to VFMV

Symbol	Grade	Weight
SYY	D	0.75%
KR	B	0.74%
ROST	D	0.72%
COST	A	0.71%
COF	C	0.7%
SYF	B	0.69%
CVS	D	0.69%
DFS	B	0.69%
WBA	F	0.64%
CMCSA	B	0.52%
DPZ	C	0.52%
DRI	B	0.51%
YUM	D	0.51%
VLO	C	0.5%
EL	F	0.5%
CMG	B	0.5%
MPC	D	0.49%
TTWO	A	0.49%
L	A	0.49%
SBUX	A	0.48%
CHTR	C	0.47%
MTCH	D	0.47%
KMB	C	0.42%
KVUE	A	0.42%
BWA	D	0.42%
VST	A	0.41%
CLX	A	0.41%
APTV	F	0.4%
J	D	0.4%
PWR	A	0.4%
JBL	C	0.38%
CEG	C	0.38%
ADM	D	0.37%
BG	D	0.37%
TSN	B	0.36%
HRL	D	0.36%
SLB	C	0.35%
PM	B	0.35%
BKR	A	0.35%
CRM	B	0.35%
IPG	D	0.34%
OMC	C	0.34%
HAL	C	0.34%
ORCL	A	0.34%
SNPS	B	0.34%
ATO	A	0.33%
GRMN	B	0.33%
TPR	B	0.33%
NI	A	0.33%
NRG	B	0.33%
HCA	F	0.33%
NKE	F	0.33%
CDNS	B	0.33%
AES	F	0.32%
AWK	C	0.32%
UHS	D	0.32%
RL	C	0.32%
LULU	C	0.31%
FCX	F	0.3%
EXC	C	0.3%
TSLA	B	0.28%
DAL	B	0.28%
UAL	A	0.28%
SWK	D	0.27%
EQIX	A	0.27%
VRSN	C	0.27%
STLD	B	0.27%
CNP	A	0.26%
HUBB	B	0.26%
ENPH	F	0.26%
NUE	C	0.26%
PEG	A	0.26%
LOW	C	0.26%
HAS	D	0.26%
CNC	D	0.26%
HD	B	0.26%
MS	A	0.26%
NVR	D	0.26%
HUM	C	0.26%
DLR	B	0.26%
ETN	A	0.26%
LEN	D	0.25%
GM	C	0.25%
NEM	D	0.25%
F	C	0.25%
CTLT	C	0.25%
MOH	F	0.25%
EIX	B	0.25%
STZ	D	0.25%
ZTS	D	0.25%
SNA	A	0.25%
PHM	D	0.25%
LUV	C	0.25%
MNST	C	0.25%
ETR	B	0.25%
TAP	C	0.25%
INCY	C	0.25%
RJF	A	0.25%
BMY	B	0.25%
GS	A	0.25%
SCHW	B	0.25%
MRNA	F	0.24%
DHI	F	0.24%
AEP	C	0.24%
D	C	0.24%
TRGP	A	0.24%
OKE	A	0.24%
VTRS	A	0.24%
KDP	F	0.24%
BIIB	F	0.24%
NEE	C	0.24%
ELV	F	0.24%
PLTR	B	0.23%
CPRT	B	0.23%
ON	D	0.23%
NXPI	D	0.23%
PAYC	B	0.22%
NFLX	A	0.22%
LW	C	0.22%
EBAY	D	0.22%
AMZN	C	0.22%
DAY	B	0.22%
NOW	A	0.22%
MPWR	F	0.22%
FFIV	B	0.21%
KEYS	A	0.21%
ANET	C	0.21%
DIS	B	0.21%
PFG	D	0.21%
AOS	F	0.21%
MKC	C	0.21%
KHC	F	0.21%
SWKS	F	0.21%
SJM	D	0.21%
MET	A	0.21%
CAG	F	0.21%
PAYX	B	0.21%
ADP	A	0.21%
ALL	A	0.2%
GL	C	0.2%
AIG	B	0.2%
IEX	C	0.2%
IR	B	0.2%
JNPR	D	0.2%
AFL	B	0.2%
PARA	C	0.2%
CPB	D	0.2%
PRU	A	0.2%
INTU	B	0.2%
AIZ	A	0.2%
ERIE	D	0.2%
HSIC	C	0.2%
FSLR	F	0.2%
MHK	D	0.19%
APH	A	0.19%
XYL	D	0.19%
TEL	B	0.19%
HPE	B	0.19%
MAS	D	0.19%
WBD	B	0.19%
PNR	A	0.19%
BLDR	D	0.19%
GLW	B	0.19%
BBWI	C	0.19%
CTAS	B	0.18%
CRWD	B	0.18%
GEV	B	0.18%
EQT	B	0.18%
K	A	0.18%
HON	C	0.17%
TGT	F	0.17%
ADSK	A	0.17%
TER	F	0.17%
MMM	D	0.17%
ANSS	B	0.17%
DG	F	0.17%
FTNT	C	0.17%
DOV	A	0.17%
GEN	B	0.17%
ITW	B	0.17%
BBY	D	0.17%
WY	F	0.17%
CTRA	B	0.17%
GE	D	0.17%
MLM	C	0.17%
DLTR	F	0.17%
DELL	B	0.17%
PTC	B	0.17%
VMC	B	0.17%
STX	C	0.17%
ULTA	F	0.17%
WDC	D	0.17%
INTC	C	0.16%
PANW	B	0.16%
ADBE	C	0.16%
DVN	F	0.16%
BA	F	0.16%
LH	B	0.16%
TXT	D	0.16%
DGX	A	0.16%
TECH	F	0.15%
SMCI	F	0.15%
A	D	0.15%
GPC	D	0.15%
WAT	C	0.15%
MTD	F	0.15%
WRB	A	0.14%
MCHP	F	0.14%
CAT	B	0.14%
IQV	F	0.14%
TMO	F	0.14%
URI	C	0.14%
CINF	A	0.14%
CRL	D	0.14%
HIG	B	0.14%
ACGL	C	0.14%
AMD	F	0.14%
KMX	B	0.14%
EG	C	0.14%
LKQ	F	0.14%
BALL	F	0.13%
FAST	B	0.13%
PCAR	B	0.13%
CDW	F	0.13%
AMCR	C	0.13%
AME	A	0.13%
POOL	C	0.13%
DE	B	0.13%
EPAM	B	0.13%
WFC	A	0.13%
ZBRA	B	0.13%
C	A	0.13%
WAB	B	0.13%
IT	C	0.13%
NVDA	B	0.13%
LDOS	C	0.13%
STT	B	0.12%
HLT	A	0.12%
MAR	A	0.12%
ABNB	C	0.12%
SYK	B	0.12%
STE	D	0.12%
EXPE	B	0.12%
ISRG	A	0.12%
ZBH	C	0.12%
GWW	B	0.12%
TSCO	D	0.12%
BAC	A	0.12%
ARE	F	0.11%
VTR	B	0.11%
WELL	A	0.11%
EXR	C	0.11%
DVA	C	0.11%
PSA	C	0.11%
CPT	B	0.11%
BR	A	0.11%
DOC	C	0.11%
BXP	C	0.11%
BKNG	A	0.11%
HST	C	0.11%
UBER	F	0.11%
BK	A	0.11%
DXCM	C	0.1%
PODD	C	0.1%
DHR	F	0.1%
NWSA	A	0.1%
IDXX	F	0.1%
NWS	A	0.1%
ESS	B	0.1%
RVTY	F	0.1%
ALGN	D	0.1%
MAA	B	0.1%
INVH	D	0.1%
GEHC	D	0.1%
AVB	B	0.1%
EQR	C	0.1%
FOX	A	0.1%
UDR	B	0.1%
FOXA	A	0.1%
TROW	B	0.09%
FMC	D	0.09%
BEN	C	0.09%
UPS	C	0.09%
EXPD	C	0.09%
AXON	A	0.09%
RCL	A	0.09%
CCL	A	0.09%
CHRW	B	0.09%
CF	A	0.09%
KKR	A	0.09%
NCLH	B	0.09%
LYV	A	0.09%
IVZ	B	0.09%
RMD	C	0.09%
ALLE	C	0.08%
PCG	A	0.08%
SRE	A	0.08%
XEL	A	0.08%
HWM	A	0.08%
PPL	A	0.08%
EVRG	A	0.08%
LNT	A	0.08%
CARR	C	0.08%
TDG	D	0.08%
JCI	B	0.08%
PH	A	0.08%
UNP	C	0.08%
CMI	A	0.08%
NSC	B	0.08%
OTIS	C	0.08%
GNRC	C	0.08%
WYNN	C	0.08%
ODFL	C	0.08%
HII	F	0.08%
BX	A	0.08%
NTRS	A	0.08%
BLK	B	0.08%
LHX	C	0.08%
LVS	B	0.08%
AMP	A	0.08%
MOS	F	0.08%
JBHT	C	0.08%
CSX	C	0.08%
CTVA	C	0.08%
O	C	0.07%
SPG	A	0.07%
LYB	F	0.07%
SW	A	0.07%
PPG	F	0.07%
OXY	D	0.07%
CZR	F	0.07%
COP	C	0.07%
MRO	B	0.07%
MGM	D	0.07%
EOG	A	0.07%
DOW	F	0.07%
APA	D	0.07%
HES	B	0.07%
PNW	A	0.07%
FDX	B	0.07%
CE	F	0.07%
ES	C	0.07%
TT	A	0.07%
TFC	A	0.06%
CFG	B	0.06%
HBAN	A	0.06%
FI	A	0.06%
USB	A	0.06%
FITB	B	0.06%
PNC	B	0.06%
KEY	B	0.06%
RF	A	0.06%
MTB	A	0.06%
EW	C	0.06%
MDT	D	0.06%
AVY	F	0.06%
PYPL	B	0.06%
IP	A	0.06%
PKG	A	0.06%
REG	A	0.06%
KIM	A	0.06%
PLD	F	0.06%
AMT	C	0.06%
FRT	B	0.06%
SHW	B	0.06%
SBAC	D	0.06%
VICI	C	0.06%
CCI	C	0.06%
IRM	C	0.06%
FICO	B	0.05%
IFF	D	0.05%
ECL	D	0.05%
SOLV	D	0.05%
BAX	F	0.05%
APD	A	0.05%
BDX	F	0.05%
TFX	F	0.05%
WST	C	0.05%
EMN	C	0.05%
DD	C	0.05%
ALB	B	0.05%
JKHY	D	0.05%
FIS	C	0.05%
AON	A	0.04%
MMC	B	0.04%
BRO	B	0.04%
EFX	F	0.04%
CBRE	B	0.04%
CSGP	D	0.04%
VRSK	A	0.04%
SPGI	C	0.04%
GPN	B	0.04%
FDS	B	0.04%
MCO	B	0.04%
MA	B	0.04%
MSCI	C	0.04%
ICE	C	0.04%
NDAQ	A	0.04%
CPAY	A	0.04%
AXP	A	0.04%
MKTX	D	0.04%
VLTO	C	0.03%
ROK	C	0.03%
NDSN	B	0.03%
TDY	B	0.03%
EMR	B	0.03%
TRMB	B	0.03%
FTV	C	0.03%

SSPY Underweight 73 Positions Relative to VFMV

Symbol	Grade	Weight
DOX	D	-1.5%
EQC	B	-1.49%
CVLT	B	-1.38%
MUSA	B	-1.13%
IDT	B	-1.1%
IDCC	B	-1.06%
KEX	B	-1.05%
FCN	F	-0.98%
LRN	A	-0.97%
MGEE	B	-0.89%
HSTM	B	-0.84%
VECO	F	-0.78%
DLB	B	-0.78%
TKO	A	-0.73%
CHE	D	-0.69%
SPOT	B	-0.68%
SAFT	B	-0.67%
BLKB	B	-0.66%
CTRE	C	-0.65%
CRUS	D	-0.64%
NSIT	F	-0.56%
WTM	A	-0.54%
YELP	C	-0.52%
NABL	F	-0.51%
MATX	C	-0.45%
PBH	A	-0.42%
NEU	D	-0.4%
FLO	D	-0.38%
INSW	F	-0.37%
DTM	A	-0.35%
PPC	C	-0.34%
LAUR	A	-0.34%
NVEC	B	-0.33%
THFF	B	-0.33%
VERX	A	-0.3%
RLI	A	-0.3%
OLLI	D	-0.26%
ATR	B	-0.25%
JBSS	F	-0.24%
MCS	B	-0.22%
EXEL	B	-0.21%
AMSF	B	-0.21%
LOPE	C	-0.2%
MTSI	B	-0.2%
IMMR	C	-0.2%
EBF	F	-0.2%
JJSF	C	-0.19%
CASS	C	-0.19%
QNST	B	-0.18%
HQY	A	-0.18%
SPOK	B	-0.15%
FDP	B	-0.15%
OLED	F	-0.14%
HCKT	B	-0.14%
SPNS	F	-0.14%
TW	A	-0.13%
PI	D	-0.12%
DGICA	A	-0.1%
TNK	F	-0.09%
DJCO	B	-0.09%
CNXN	C	-0.07%
UNM	A	-0.06%
OSIS	A	-0.06%
CNA	C	-0.04%
PEBK	B	-0.04%
LANC	C	-0.04%
CLBK	C	-0.04%
GLRE	B	-0.04%
NBIX	C	-0.03%
BCAL	B	-0.03%
EIG	B	-0.03%
MRAM	D	-0.02%
FFNW	C	-0.02%

VFMV: Top Represented Industries & Keywords

Industries: Insurance - Property & Casualty Semiconductors Drug Manufacturers - Major Internet Content & Information Utilities - Regulated Electric Packaged Foods Software - Application Telecom Services Information Technology Services Aerospace & Defense Banks - Regional - US Biotechnology Business Services Medical Distribution Semiconductor Equipment & Materials Shipping & Ports Education & Training Services Household & Personal Products Media - Diversified Oil & Gas Midstream