VB vs. FDL ETF Comparison

Comparison of Vanguard Small-Cap ETF (VB) to First Trust Morningstar ETF (FDL)

VB

Vanguard Small-Cap ETF

VB Description

The investment seeks to track the performance of a benchmark index that measures the investment return of small-capitalization stocks. The fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Index, a broadly diversified index of stocks of small U.S. companies. 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

$246.31

Average Daily Volume

615,368

Number of Holdings ^*

1303

* may have additional holdings in another (foreign) market

FDL

First Trust Morningstar ETF

FDL Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Morningstar(R) Dividend Leaders Index(SM). The fund will normally invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the index. The objective of the index is to offer investors a benchmark for dividend portfolios as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends as well as the ability to sustain them. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$41.96

Average Daily Volume

395,695

Number of Holdings ^*

100

* may have additional holdings in another (foreign) market

Performance

Period	VB	FDL
30 Days	1.61%	-1.43%
60 Days	6.36%	0.84%
90 Days	9.16%	5.10%
12 Months	31.66%	31.06%

53 Overlapping Holdings

Symbol	Grade	Weight in VB	Weight in FDL	Overlap
ALE	A	0.06%	0.12%	0.06%
APAM	A	0.05%	0.17%	0.05%
ASB	A	0.05%	0.12%	0.05%
AVA	C	0.05%	0.1%	0.05%
BEN	C	0.05%	0.27%	0.05%
BKH	A	0.07%	0.13%	0.07%
CATY	A	0.05%	0.08%	0.05%
CC	C	0.05%	0.13%	0.05%
CMA	A	0.13%	0.32%	0.13%
COLB	A	0.09%	0.27%	0.09%
CRI	D	0.04%	0.06%	0.04%
EVRG	A	0.11%	0.42%	0.11%
FAF	C	0.1%	0.15%	0.1%
FHB	A	0.05%	0.11%	0.05%
FHI	A	0.05%	0.09%	0.05%
FHN	A	0.14%	0.29%	0.14%
FIBK	A	0.04%	0.14%	0.04%
FLO	D	0.07%	0.13%	0.07%
FMC	F	0.13%	0.2%	0.13%
GEF	A	0.03%	0.01%	0.01%
GEF	A	0.0%	0.01%	0.0%
HAS	D	0.16%	0.25%	0.16%
IPG	F	0.19%	0.34%	0.19%
JHG	A	0.08%	0.18%	0.08%
LCII	D	0.05%	0.08%	0.05%
LNC	A	0.09%	0.26%	0.09%
MAN	F	0.06%	0.1%	0.06%
MSM	C	0.06%	0.12%	0.06%
MTN	C	0.11%	0.23%	0.11%
NJR	A	0.08%	0.12%	0.08%
NWE	C	0.06%	0.1%	0.06%
NXST	D	0.08%	0.17%	0.08%
OGE	A	0.13%	0.25%	0.13%
OGS	A	0.07%	0.1%	0.07%
OMF	A	0.09%	0.41%	0.09%
OZK	A	0.08%	0.14%	0.08%
PNM	B	0.06%	0.11%	0.06%
PNW	A	0.16%	0.28%	0.16%
POR	D	0.08%	0.14%	0.08%
PRGO	C	0.06%	0.11%	0.06%
SIRI	C	0.08%	0.04%	0.04%
SJM	F	0.2%	0.32%	0.2%
SMG	D	0.06%	0.09%	0.06%
SNV	A	0.1%	0.2%	0.1%
SR	A	0.06%	0.12%	0.06%
TNL	A	0.05%	0.13%	0.05%
UBSI	A	0.08%	0.16%	0.08%
UGI	C	0.09%	0.22%	0.09%
VLY	A	0.06%	0.17%	0.06%
WEN	C	0.05%	0.14%	0.05%
WHR	A	0.1%	0.31%	0.1%
WU	F	0.07%	0.2%	0.07%
ZION	A	0.11%	0.22%	0.11%

VB Overweight 1250 Positions Relative to FDL

Symbol	Grade	Weight
AXON	A	0.47%
SW	A	0.42%
DECK	A	0.4%
BLDR	D	0.37%
ATO	A	0.35%
PTC	B	0.34%
CSL	B	0.34%
BAH	D	0.34%
EME	B	0.33%
LII	B	0.32%
WSM	F	0.32%
FCNCA	A	0.32%
NRG	B	0.31%
DKNG	B	0.29%
HOOD	A	0.28%
ENTG	F	0.28%
WSO	A	0.28%
MANH	D	0.28%
TOL	B	0.26%
RS	B	0.26%
THC	C	0.26%
UTHR	B	0.26%
PNR	A	0.26%
TRGP	A	0.26%
IEX	B	0.26%
GWRE	B	0.25%
DT	C	0.25%
OC	A	0.25%
PSTG	F	0.25%
RPM	A	0.25%
KIM	A	0.25%
APP	A	0.24%
MSTR	B	0.24%
GGG	A	0.24%
RBA	A	0.24%
NTNX	A	0.24%
NTRA	B	0.24%
USFD	B	0.24%
ACM	B	0.23%
FIX	A	0.23%
CASY	B	0.23%
RNR	D	0.23%
AES	F	0.23%
RGA	A	0.23%
GLPI	D	0.22%
EQH	B	0.22%
NDSN	B	0.22%
COHR	B	0.22%
BG	D	0.22%
ERIE	F	0.22%
TTEK	D	0.21%
FND	F	0.21%
TECH	D	0.21%
ALLE	D	0.21%
DOCU	A	0.21%
JLL	C	0.21%
FFIV	B	0.21%
JNPR	D	0.21%
JKHY	D	0.21%
JBL	C	0.21%
UHS	D	0.21%
EMN	C	0.21%
REG	A	0.21%
CPT	D	0.21%
PCVX	D	0.21%
KMX	B	0.2%
CUBE	C	0.2%
WMS	F	0.2%
WING	F	0.2%
PFGC	B	0.2%
ITT	A	0.2%
BLD	F	0.2%
CHRW	A	0.2%
HST	D	0.2%
INSM	D	0.2%
EXAS	F	0.2%
CW	B	0.2%
BXP	D	0.19%
EWBC	A	0.19%
DKS	D	0.19%
HUBB	B	0.19%
CCK	D	0.19%
SAIA	B	0.19%
NBIX	D	0.19%
TFX	F	0.19%
NVT	B	0.19%
CLH	C	0.19%
LAMR	D	0.19%
TOST	A	0.19%
TXRH	A	0.19%
XPO	B	0.19%
AMH	C	0.19%
ELS	B	0.19%
EPAM	B	0.18%
AOS	F	0.18%
TPR	A	0.18%
SCI	B	0.18%
EQT	A	0.18%
LECO	C	0.18%
BJ	B	0.18%
LDOS	C	0.18%
RRX	B	0.18%
SFM	A	0.18%
FBIN	D	0.18%
CACI	C	0.18%
SRPT	F	0.18%
AFG	A	0.17%
CRL	D	0.17%
ARMK	C	0.17%
WWD	B	0.17%
CVNA	A	0.17%
ONTO	F	0.17%
REXR	F	0.17%
KNSL	C	0.17%
AIZ	A	0.17%
HII	F	0.17%
CTLT	C	0.17%
OHI	C	0.17%
LKQ	D	0.17%
ATR	B	0.17%
FTI	A	0.17%
RIVN	F	0.16%
GNRC	B	0.16%
FRT	B	0.16%
SOLV	C	0.16%
EXP	B	0.16%
EHC	B	0.16%
MTCH	F	0.16%
ALLY	C	0.16%
QRVO	F	0.16%
BWXT	A	0.16%
AA	A	0.16%
TAP	A	0.16%
CG	B	0.16%
DUOL	B	0.16%
OWL	A	0.16%
OVV	C	0.16%
CHDN	C	0.15%
INGR	B	0.15%
PRI	A	0.15%
LBRDK	B	0.15%
TPX	A	0.15%
TTC	D	0.15%
NCLH	B	0.15%
CHE	D	0.15%
WYNN	D	0.15%
WAL	A	0.15%
APA	F	0.15%
MUSA	A	0.15%
EGP	D	0.15%
SF	A	0.15%
MKTX	C	0.15%
DAY	B	0.15%
RGLD	C	0.15%
EVR	A	0.15%
HSIC	D	0.15%
STLD	B	0.15%
AFRM	A	0.15%
LW	C	0.15%
TWLO	A	0.15%
IOT	B	0.15%
OLED	F	0.15%
WTRG	C	0.15%
ROKU	D	0.15%
GL	B	0.15%
ATI	D	0.14%
ALSN	B	0.14%
HLI	A	0.14%
BRX	A	0.14%
MLI	B	0.14%
AR	B	0.14%
AYI	A	0.14%
LAD	A	0.14%
TKO	C	0.14%
MOS	D	0.14%
FN	C	0.14%
AIT	A	0.14%
CNM	F	0.14%
CZR	F	0.14%
PR	C	0.14%
PAYC	B	0.14%
WEX	F	0.14%
MHK	D	0.14%
TPL	A	0.14%
NYT	D	0.14%
KBR	D	0.14%
RBC	A	0.14%
GME	C	0.14%
UNM	A	0.14%
FYBR	C	0.14%
CIEN	B	0.14%
JEF	A	0.14%
SKX	D	0.14%
HRB	D	0.14%
DCI	B	0.14%
GPK	D	0.14%
MORN	B	0.14%
NNN	D	0.14%
CR	A	0.13%
SNX	D	0.13%
Z	A	0.13%
VFC	B	0.13%
NI	A	0.13%
VOYA	A	0.13%
MTZ	B	0.13%
SWN	C	0.13%
BRBR	A	0.13%
RGEN	D	0.13%
AXTA	A	0.13%
WBS	A	0.13%
DOC	D	0.13%
COLD	F	0.13%
LNW	D	0.13%
CHRD	F	0.13%
SSD	D	0.13%
GMED	A	0.13%
SEIC	A	0.13%
BFAM	F	0.13%
PODD	A	0.13%
APG	C	0.13%
CROX	F	0.13%
FCN	F	0.13%
FLR	B	0.13%
AGNC	C	0.13%
ENSG	D	0.13%
ORI	A	0.13%
WCC	A	0.13%
BWA	A	0.13%
MEDP	D	0.13%
KNX	B	0.13%
RRC	B	0.12%
KEX	A	0.12%
STAG	D	0.12%
HQY	A	0.12%
VNO	B	0.12%
SAIC	D	0.12%
ANF	C	0.12%
X	D	0.12%
PEN	B	0.12%
PNFP	A	0.12%
LUMN	C	0.12%
WTFC	A	0.12%
DINO	D	0.12%
TREX	C	0.12%
HALO	D	0.12%
BPOP	C	0.12%
ELAN	C	0.12%
SMAR	A	0.12%
SPSC	D	0.12%
LSCC	D	0.12%
MKSI	D	0.12%
BRKR	F	0.12%
ITCI	B	0.12%
AAL	B	0.12%
RL	B	0.12%
BERY	D	0.12%
FR	D	0.12%
SSB	A	0.12%
MTH	D	0.12%
UDR	C	0.12%
MIDD	D	0.12%
IVZ	B	0.12%
SOFI	A	0.12%
CRS	A	0.12%
ADC	A	0.12%
UFPI	C	0.12%
LNTH	F	0.12%
DTM	A	0.12%
STWD	D	0.11%
MAT	C	0.11%
TRNO	D	0.11%
BIO	C	0.11%
ESNT	D	0.11%
H	B	0.11%
OSK	C	0.11%
PB	A	0.11%
JAZZ	A	0.11%
LFUS	D	0.11%
MOD	C	0.11%
S	B	0.11%
MSA	D	0.11%
FRPT	B	0.11%
CRUS	F	0.11%
COKE	C	0.11%
MTG	C	0.11%
VKTX	F	0.11%
RHI	B	0.11%
LSTR	D	0.11%
ESTC	C	0.11%
CVLT	B	0.11%
WSC	F	0.11%
RLI	A	0.11%
AZEK	B	0.11%
GKOS	B	0.11%
FLS	A	0.11%
LPX	A	0.11%
SITE	D	0.11%
RVMD	B	0.11%
GNTX	C	0.11%
POOL	D	0.11%
JXN	B	0.11%
PLNT	A	0.11%
PCTY	B	0.11%
DVA	C	0.11%
CBSH	A	0.11%
CGNX	D	0.11%
TMHC	B	0.11%
G	A	0.11%
AAON	A	0.11%
BBWI	C	0.11%
UHAL	D	0.11%
NSIT	F	0.11%
EXEL	B	0.11%
ARW	D	0.11%
VMI	B	0.1%
EXPO	D	0.1%
EXLS	B	0.1%
BPMC	D	0.1%
ACI	C	0.1%
DAR	B	0.1%
IBP	F	0.1%
ESI	B	0.1%
OLLI	D	0.1%
ONB	B	0.1%
CLF	F	0.1%
EPRT	C	0.1%
R	A	0.1%
VRNS	D	0.1%
AXS	A	0.1%
AN	D	0.1%
ETSY	D	0.1%
CSWI	B	0.1%
RHP	B	0.1%
ESAB	B	0.1%
CBT	C	0.1%
CWST	A	0.1%
LEA	F	0.1%
ELF	C	0.1%
WH	A	0.1%
AGCO	D	0.1%
CYTK	D	0.1%
WFRD	F	0.1%
GXO	B	0.1%
U	F	0.1%
NOV	D	0.1%
INSP	F	0.1%
CMC	B	0.1%
PCOR	B	0.1%
RYAN	A	0.1%
MASI	A	0.1%
NOVT	D	0.1%
BMI	B	0.1%
MTSI	B	0.1%
CFR	A	0.1%
MDU	D	0.09%
KD	A	0.09%
GTLS	A	0.09%
TKR	F	0.09%
ACIW	B	0.09%
PATH	D	0.09%
BILL	A	0.09%
BECN	B	0.09%
OPCH	F	0.09%
SON	D	0.09%
GAP	C	0.09%
ALTR	B	0.09%
VVV	B	0.09%
ZETA	F	0.09%
INCY	B	0.09%
ST	F	0.09%
POST	D	0.09%
DY	C	0.09%
MMSI	A	0.09%
KBH	D	0.09%
XRAY	F	0.09%
BCC	B	0.09%
IDA	A	0.09%
AUR	D	0.09%
NFG	A	0.09%
BC	D	0.09%
MTDR	C	0.09%
THO	B	0.09%
ALB	C	0.09%
ACHC	F	0.09%
MMS	D	0.09%
PVH	C	0.09%
OLN	F	0.09%
AVAV	C	0.09%
COOP	B	0.09%
PARA	C	0.09%
SRCL	B	0.09%
SIGI	A	0.09%
WTS	A	0.09%
IONS	F	0.09%
ALK	A	0.09%
BCPC	B	0.09%
FSS	C	0.09%
DBX	C	0.09%
CHX	C	0.09%
AWI	A	0.09%
FOUR	B	0.09%
MOG.A	B	0.09%
GTLB	B	0.09%
CADE	A	0.09%
KRG	B	0.09%
IRT	A	0.08%
PECO	A	0.08%
RDNT	B	0.08%
FIVE	F	0.08%
ACA	B	0.08%
DOCS	C	0.08%
CNX	A	0.08%
KRYS	D	0.08%
TPG	B	0.08%
GATX	A	0.08%
CPRI	F	0.08%
CTRE	D	0.08%
ABG	A	0.08%
PIPR	A	0.08%
BDC	B	0.08%
AVT	C	0.08%
MATX	B	0.08%
RYN	D	0.08%
THG	A	0.08%
SUM	B	0.08%
ITRI	B	0.08%
MC	B	0.08%
MUR	F	0.08%
BCO	F	0.08%
RARE	F	0.08%
HOMB	A	0.08%
APPF	C	0.08%
GPI	A	0.08%
HCP	B	0.08%
SKY	A	0.08%
ZWS	B	0.08%
OGN	F	0.08%
RH	C	0.08%
PSN	C	0.08%
SLM	A	0.08%
TMDX	F	0.08%
CIVI	F	0.08%
AMG	A	0.08%
HXL	F	0.08%
KNF	B	0.08%
AM	A	0.08%
FNB	A	0.08%
BOOT	C	0.08%
CELH	F	0.08%
ROIV	D	0.08%
PI	D	0.08%
GBCI	A	0.08%
VNT	C	0.08%
W	F	0.08%
RDN	C	0.08%
HASI	F	0.07%
TPH	D	0.07%
ASH	F	0.07%
CWAN	B	0.07%
FELE	B	0.07%
ABCB	A	0.07%
LITE	A	0.07%
ENS	D	0.07%
CORT	B	0.07%
HAE	A	0.07%
M	C	0.07%
GTES	B	0.07%
WTM	A	0.07%
BYD	A	0.07%
LOPE	B	0.07%
SLGN	B	0.07%
ASO	F	0.07%
ICUI	D	0.07%
CRC	B	0.07%
SEE	B	0.07%
EEFT	C	0.07%
NUVL	D	0.07%
ZG	A	0.07%
FUL	F	0.07%
CFLT	C	0.07%
CRDO	C	0.07%
VRRM	D	0.07%
LYFT	B	0.07%
UMBF	A	0.07%
SBRA	C	0.07%
ITGR	B	0.07%
MGY	A	0.07%
SIG	B	0.07%
BLKB	D	0.07%
PII	F	0.07%
ORA	B	0.07%
HWC	A	0.07%
HLNE	A	0.07%
MGM	D	0.07%
CUZ	B	0.07%
SWX	A	0.07%
QLYS	C	0.07%
FFIN	A	0.07%
SLG	B	0.07%
HRI	B	0.07%
BOX	B	0.07%
MARA	B	0.07%
AL	A	0.07%
KRC	C	0.07%
RMBS	C	0.07%
KTB	A	0.07%
HOG	D	0.07%
DLB	D	0.07%
QTWO	A	0.07%
SM	C	0.07%
TENB	D	0.07%
AVNT	A	0.07%
ALKS	B	0.07%
TDW	F	0.06%
AMKR	F	0.06%
NVST	C	0.06%
RUSHA	B	0.06%
AX	A	0.06%
SXT	C	0.06%
NPO	A	0.06%
LANC	D	0.06%
CDP	C	0.06%
ACLS	F	0.06%
PEGA	B	0.06%
SMTC	C	0.06%
VAL	F	0.06%
BROS	A	0.06%
GVA	A	0.06%
UCB	A	0.06%
FBP	A	0.06%
YETI	F	0.06%
WDFC	A	0.06%
LRN	A	0.06%
MPW	F	0.06%
CHWY	B	0.06%
CNO	A	0.06%
HIW	D	0.06%
PCH	D	0.06%
SANM	B	0.06%
GMS	A	0.06%
AXNX	A	0.06%
IDCC	A	0.06%
FORM	F	0.06%
BNL	D	0.06%
PBH	A	0.06%
BBIO	F	0.06%
RKLB	B	0.06%
SEM	B	0.06%
SKT	A	0.06%
WD	D	0.06%
POWI	D	0.06%
AXSM	B	0.06%
FTDR	B	0.06%
ESGR	B	0.06%
NHI	D	0.06%
EPR	D	0.06%
PLXS	B	0.06%
SLAB	F	0.06%
KMPR	A	0.06%
DXC	C	0.06%
SPR	D	0.06%
DNB	B	0.06%
IIPR	F	0.06%
RXO	C	0.06%
RUN	F	0.06%
MSGS	B	0.06%
WK	B	0.06%
IAC	D	0.06%
MDGL	C	0.06%
SHAK	B	0.06%
KFY	B	0.06%
MAC	A	0.06%
OSCR	F	0.06%
EDR	A	0.06%
SFBS	A	0.06%
PRCT	B	0.06%
AEO	F	0.06%
AEIS	B	0.06%
WHD	B	0.06%
ASGN	D	0.06%
NEU	C	0.06%
HUN	F	0.06%
AGO	A	0.06%
HL	D	0.06%
AIN	C	0.05%
TNDM	F	0.05%
ACVA	A	0.05%
ADTN	A	0.05%
PK	C	0.05%
REZI	A	0.05%
LXP	D	0.05%
IOSP	C	0.05%
DIOD	F	0.05%
WAFD	A	0.05%
LBRT	F	0.05%
CNXC	F	0.05%
PTCT	B	0.05%
PJT	A	0.05%
TRN	A	0.05%
PENN	B	0.05%
PRGS	B	0.05%
TNET	F	0.05%
WLK	F	0.05%
PBF	D	0.05%
TDC	F	0.05%
PFSI	D	0.05%
ALGM	F	0.05%
DORM	B	0.05%
DEI	B	0.05%
JWN	A	0.05%
SQSP	A	0.05%
GNW	A	0.05%
SATS	D	0.05%
PRIM	A	0.05%
ALIT	C	0.05%
NSP	F	0.05%
CALM	A	0.05%
UNF	A	0.05%
APLS	F	0.05%
PTEN	D	0.05%
WSFS	A	0.05%
NWL	B	0.05%
ATKR	C	0.05%
UPST	B	0.05%
CBU	A	0.05%
YOU	D	0.05%
CNK	A	0.05%
SYNA	C	0.05%
HIMS	C	0.05%
CRVL	B	0.05%
BL	B	0.05%
COMP	B	0.05%
WBA	F	0.05%
GFF	A	0.05%
ENV	B	0.05%
AWR	A	0.05%
CWK	B	0.05%
EVH	F	0.05%
DNLI	C	0.05%
SMPL	B	0.05%
BXMT	D	0.05%
JBT	B	0.05%
AMED	F	0.05%
FOLD	F	0.05%
SITM	B	0.05%
BTU	B	0.05%
EBC	A	0.05%
CWT	C	0.05%
BRC	C	0.05%
ZI	D	0.05%
CBZ	B	0.05%
APLE	B	0.05%
SKYW	A	0.05%
IRDM	C	0.05%
SGBX	F	0.05%
AROC	A	0.05%
PAG	A	0.05%
TGTX	B	0.05%
COTY	F	0.05%
EAT	A	0.05%
OTTR	C	0.05%
LCID	F	0.05%
STEP	A	0.05%
NEOG	D	0.05%
BGC	B	0.05%
NSA	C	0.05%
FULT	A	0.05%
TCBI	A	0.05%
MGEE	A	0.05%
ABM	B	0.05%
ESE	A	0.05%
KTOS	B	0.05%
HCC	B	0.05%
IBOC	A	0.05%
CCOI	B	0.05%
RIG	D	0.05%
TEX	D	0.05%
NOG	A	0.05%
SHOO	D	0.05%
MWA	A	0.05%
AUB	A	0.05%
CHH	A	0.05%
STRA	C	0.04%
SXI	A	0.04%
TOWN	A	0.04%
EVTC	C	0.04%
CALX	F	0.04%
ZD	B	0.04%
AMBA	B	0.04%
MQ	F	0.04%
CNMD	C	0.04%
AIR	B	0.04%
KSS	F	0.04%
YELP	C	0.04%
MHO	D	0.04%
DOCN	D	0.04%
MIR	A	0.04%
PSMT	D	0.04%
AZTA	F	0.04%
KWR	C	0.04%
VERX	A	0.04%
WERN	B	0.04%
EPAC	B	0.04%
ENR	A	0.04%
IPAR	C	0.04%
TXG	F	0.04%
KYMR	C	0.04%
ARWR	D	0.04%
FFBC	A	0.04%
DV	C	0.04%
PFS	A	0.04%
HAYW	A	0.04%
VAC	B	0.04%
IRTC	C	0.04%
MTRN	C	0.04%
AAP	D	0.04%
INTA	B	0.04%
HHH	B	0.04%
AZZ	B	0.04%
BOKF	A	0.04%
VSH	F	0.04%
MYGN	F	0.04%
BFH	A	0.04%
CVBF	A	0.04%
LGIH	F	0.04%
ARCH	B	0.04%
SMMT	D	0.04%
JOE	F	0.04%
INDB	A	0.04%
ENOV	C	0.04%
HNI	A	0.04%
PPBI	A	0.04%
FRSH	B	0.04%
PRK	A	0.04%
ASTH	F	0.04%
FL	F	0.04%
DBRG	D	0.04%
HBI	A	0.04%
OSIS	A	0.04%
SGRY	F	0.04%
RNG	B	0.04%
CDE	D	0.04%
AKR	B	0.04%
ABR	C	0.04%
MTX	B	0.04%
CARG	A	0.04%
BOH	A	0.04%
RPD	C	0.04%
SAM	B	0.04%
TWST	F	0.04%
GT	C	0.04%
VIRT	A	0.04%
OII	B	0.04%
AGIO	B	0.04%
SPB	C	0.04%
CWEN	D	0.04%
RNA	C	0.04%
ALRM	C	0.04%
ARCB	C	0.04%
IOVA	D	0.04%
FROG	C	0.04%
SFNC	B	0.04%
HGV	B	0.04%
MGRC	B	0.04%
OUT	C	0.04%
UE	B	0.04%
SHC	D	0.04%
TGNA	B	0.04%
AMR	C	0.04%
VCYT	B	0.04%
VC	F	0.04%
PRFT	A	0.04%
HUBG	A	0.04%
CNS	B	0.04%
COLM	B	0.04%
GH	B	0.04%
GHC	A	0.04%
URBN	C	0.04%
AI	C	0.04%
ATGE	B	0.04%
HP	C	0.04%
BKU	A	0.04%
CXT	D	0.04%
BHF	A	0.04%
NCNO	B	0.04%
RRR	D	0.04%
APOG	B	0.03%
GO	C	0.03%
ELME	D	0.03%
GTY	C	0.03%
NWN	A	0.03%
ALKT	B	0.03%
VRNT	D	0.03%
RAMP	C	0.03%
TDOC	C	0.03%
CABO	B	0.03%
UPBD	B	0.03%
HLIO	B	0.03%
HE	D	0.03%
PTON	B	0.03%
PEB	F	0.03%
LTC	B	0.03%
PD	C	0.03%
NBHC	A	0.03%
CENTA	C	0.03%
AMN	F	0.03%
CRGY	A	0.03%
ANDE	C	0.03%
RXRX	F	0.03%
SUPN	B	0.03%
REYN	D	0.03%
PPC	B	0.03%
CHCO	A	0.03%
NHC	B	0.03%
AMC	C	0.03%
DDS	B	0.03%
SCL	D	0.03%
FCF	A	0.03%
UAA	B	0.03%
CVCO	A	0.03%
NPAB	F	0.03%
WSBC	A	0.03%
NVCR	D	0.03%
NWBI	A	0.03%
GEO	A	0.03%
XPRO	F	0.03%
DRH	B	0.03%
RDDT	B	0.03%
MLKN	F	0.03%
FOXF	F	0.03%
LEG	F	0.03%
PDCO	F	0.03%
TROX	F	0.03%
WKC	C	0.03%
LGND	B	0.03%
MCY	A	0.03%
TRMK	A	0.03%
KNTK	A	0.03%
PZZA	D	0.03%
GOLF	A	0.03%
TTMI	B	0.03%
LZB	A	0.03%
EPC	F	0.03%
FTRE	D	0.03%
TNC	F	0.03%
BEAM	D	0.03%
STAA	F	0.03%
KAR	A	0.03%
B	A	0.03%
CAKE	A	0.03%
MGNI	A	0.03%
MRCY	B	0.03%
IMVT	D	0.03%
BRZE	C	0.03%
VECO	F	0.03%
NEO	C	0.03%
ROIC	A	0.03%
PHIN	A	0.03%
BANF	A	0.03%
ACAD	C	0.03%
NVAX	F	0.03%
FLYW	B	0.03%
HURN	B	0.03%
GNL	D	0.03%
JBLU	C	0.03%
CRNX	C	0.03%
PRG	A	0.03%
GSHD	A	0.03%
HI	C	0.03%
QS	F	0.03%
VSTS	F	0.03%
PRVA	B	0.03%
THS	F	0.03%
NMRK	B	0.03%
WLY	B	0.03%
RNST	A	0.03%
INFA	F	0.03%
IPGP	D	0.03%
VYX	C	0.03%
JOBY	B	0.03%
NTLA	F	0.03%
KAI	A	0.03%
NBTB	A	0.03%
PLUG	D	0.03%
VGR	B	0.03%
VIAV	B	0.03%
JJSF	C	0.03%
LTH	D	0.03%
PINC	B	0.03%
OMCL	C	0.03%
PAYO	A	0.03%
VSCO	A	0.03%
KMT	B	0.03%
LAUR	A	0.03%
CGON	D	0.03%
RIOT	B	0.03%
EQC	A	0.03%
IBTX	A	0.03%
OI	C	0.03%
NARI	C	0.03%
MP	B	0.03%
BE	A	0.03%
BANR	A	0.03%
IVT	B	0.03%
NATL	B	0.03%
FRME	A	0.03%
LEVI	F	0.03%
OFG	B	0.03%
TDS	B	0.03%
SHO	D	0.03%
RCM	A	0.03%
ROG	D	0.03%
SWTX	C	0.03%
FIVN	C	0.03%
CACC	D	0.03%
EXTR	B	0.02%
FSLY	D	0.02%
RVLV	A	0.02%
GSAT	B	0.02%
ODP	F	0.02%
UNFI	A	0.02%
ARRY	C	0.02%
SHLS	F	0.02%
VICR	B	0.02%
CWEN	D	0.02%
CWH	B	0.02%
TRS	D	0.02%
ASAN	C	0.02%
MD	B	0.02%
MRVI	F	0.02%
CBRL	C	0.02%
THR	C	0.02%
FA	D	0.02%
ATSG	A	0.02%
RWT	D	0.02%
INVA	C	0.02%
VSTO	A	0.02%
MRC	B	0.02%
HTLF	A	0.02%
SCSC	B	0.02%
IAS	D	0.02%
CARS	B	0.02%
SNDR	B	0.02%
AHCO	D	0.02%
ECPG	A	0.02%
ROCK	C	0.02%
UA	B	0.02%
FBRT	C	0.02%
CNNE	B	0.02%
PLAY	C	0.02%
CSR	A	0.02%
EXPI	C	0.02%
ETWO	F	0.02%
RLAY	F	0.02%
MXL	C	0.02%
NOVA	F	0.02%
FIZZ	B	0.02%
AVNS	F	0.02%
KALU	C	0.02%
WMK	B	0.02%
WS	B	0.02%
SDGR	D	0.02%
ALHC	C	0.02%
KFRC	D	0.02%
ACT	C	0.02%
FDP	A	0.02%
KW	C	0.02%
SCS	A	0.02%
PYCR	C	0.02%
XRX	F	0.02%
OMI	F	0.02%
DK	D	0.02%
SAFT	A	0.02%
CEIX	A	0.02%
BHLB	A	0.02%
AMRX	C	0.02%
GIII	D	0.02%
UTZ	D	0.02%
PLMR	A	0.02%
EIG	A	0.02%
NAVI	D	0.02%
OPEN	F	0.02%
MSGE	D	0.02%
IART	C	0.02%
ZUO	A	0.02%
AGL	F	0.02%
LC	B	0.02%
PBI	C	0.02%
AIV	C	0.02%
INSW	F	0.02%
AAT	C	0.02%
WOLF	F	0.02%
CMPR	F	0.02%
PMT	D	0.02%
AMRC	F	0.02%
UVV	B	0.02%
WOR	F	0.02%
HRMY	D	0.02%
PDM	D	0.02%
WABC	A	0.02%
LBRDA	B	0.02%
JELD	F	0.02%
ARI	D	0.02%
BKD	F	0.02%
PGNY	F	0.02%
OXM	F	0.02%
ATRC	C	0.02%
NNI	C	0.02%
UNIT	B	0.02%
UPWK	B	0.02%
NX	C	0.02%
ENVX	F	0.02%
AESI	D	0.02%
LADR	A	0.02%
VCTR	B	0.02%
WWW	A	0.02%
CXW	B	0.02%
TRUP	A	0.02%
JAMF	F	0.02%
PCT	C	0.02%
APPN	B	0.02%
BKE	A	0.02%
SABR	B	0.02%
SPNT	A	0.02%
RLJ	C	0.02%
VSAT	F	0.02%
LNN	B	0.02%
CSGS	A	0.02%
WT	A	0.02%
XNCR	B	0.02%
DNOW	A	0.02%
DAN	F	0.02%
REVG	A	0.02%
SPT	C	0.02%
SBH	A	0.02%
ALEX	B	0.02%
JBI	F	0.02%
WRBY	A	0.02%
VRE	A	0.02%
BLMN	F	0.02%
CAR	C	0.02%
VRTS	A	0.02%
HELE	C	0.02%
CERT	F	0.02%
NGVT	B	0.02%
CODI	A	0.02%
HMN	A	0.02%
INFN	C	0.02%
HOPE	A	0.02%
RDFN	D	0.02%
ESRT	D	0.02%
THRM	F	0.02%
TRIP	D	0.02%
HTH	B	0.02%
FLNC	D	0.02%
NTCT	B	0.02%
SONO	C	0.02%
GBX	A	0.02%
XHR	B	0.02%
HEES	B	0.02%
JBGS	D	0.02%
MODG	F	0.02%
KN	B	0.02%
BHE	B	0.02%
ARVN	D	0.02%
STBA	A	0.02%
DYN	F	0.02%
CNDT	B	0.01%
CRCT	F	0.01%
HGTY	B	0.01%
WOOF	D	0.01%
EGBN	A	0.01%
WRLD	D	0.01%
HTZ	C	0.01%
INN	D	0.01%
ANAB	F	0.01%
PAY	A	0.01%
EE	A	0.01%
ADPT	C	0.01%
RMR	F	0.01%
RCUS	F	0.01%
PTVE	C	0.01%
NVRI	F	0.01%
OPK	A	0.01%
FWRD	D	0.01%
TWKS	B	0.01%
USNA	C	0.01%
IBTA	C	0.01%
DJT	C	0.01%
CLBK	B	0.01%
CCO	D	0.01%
GCMG	B	0.01%
ULCC	B	0.01%
LGF.A	F	0.01%
PX	A	0.01%
ALX	D	0.01%
TGI	A	0.01%
BFS	C	0.01%
TR	A	0.01%
DAWN	D	0.01%
INST	B	0.01%
OLO	B	0.01%
TILE	A	0.01%
HTLD	B	0.01%
NRDS	C	0.01%
ATUS	C	0.01%
MLNK	C	0.01%
GDRX	F	0.01%
CAL	D	0.01%
CHPT	F	0.01%
SANA	F	0.01%
IRWD	D	0.01%
SRCL	B	0.01%
FOR	F	0.01%
CTKB	C	0.01%
ZIP	D	0.01%
GES	F	0.01%
MAX	F	0.01%
BMBL	C	0.01%
BASE	C	0.01%
PUBM	D	0.01%
SCHL	F	0.01%
RES	F	0.01%
LPRO	C	0.01%
PHR	F	0.01%
ARHS	F	0.01%
HY	F	0.01%
MCW	B	0.01%
RCKT	F	0.01%
QXO	D	0.01%
IBUY	B	0.01%
KELYA	F	0.01%
CFFN	A	0.01%
PCRX	C	0.01%
SWI	B	0.01%
UHAL	D	0.01%
TMP	A	0.01%
BGS	F	0.01%
LFST	C	0.01%
MATW	C	0.01%
HPP	F	0.01%
PUMP	F	0.01%
HLF	C	0.01%
AXL	C	0.01%
YEXT	A	0.01%
HSTM	B	0.01%
RGR	F	0.01%
VMEO	B	0.01%
KOP	C	0.01%
BJRI	A	0.01%
ECVT	C	0.01%
TFSL	A	0.01%
AMWD	B	0.01%
UDMY	D	0.01%
KREF	D	0.01%
ASTE	B	0.01%
BRSP	B	0.01%
SHEN	F	0.01%
PRLB	B	0.01%
PTLO	F	0.01%
SVC	F	0.01%
SEB	F	0.01%
RSI	B	0.01%
PRA	A	0.01%
SEMR	D	0.01%
UWMC	F	0.01%
SAH	A	0.01%
HAIN	F	0.01%
CDNA	D	0.01%
BCRX	D	0.01%
PRO	C	0.01%
LOB	A	0.01%
HLX	D	0.01%
WNC	C	0.01%
CVI	D	0.01%
CRK	A	0.01%
EMBC	C	0.01%
XMTR	C	0.01%
GRC	B	0.01%
VIR	C	0.01%
DRVN	A	0.01%
HCSG	B	0.01%
MNRO	B	0.01%
CENX	A	0.01%
PRAA	C	0.01%
NFE	F	0.01%
VZIO	A	0.01%
FG	A	0.01%
NABL	F	0.01%
BRKL	A	0.01%
ALGT	A	0.01%
EYE	C	0.01%
DLX	A	0.01%
CXM	C	0.01%
RBRK	B	0.01%
USM	B	0.01%
CLB	C	0.01%
COUR	F	0.01%
DFH	F	0.01%
MATV	F	0.01%
SSTK	F	0.01%
SMR	B	0.01%
LMND	A	0.01%
TFIN	A	0.01%
CMTG	D	0.01%
FIGS	F	0.01%
JACK	D	0.01%
BDN	D	0.01%
BV	C	0.01%
LGF.A	F	0.01%
PGRE	C	0.01%
DNUT	D	0.01%
MMI	A	0.01%
SCWX	B	0.0%
AC	B	0.0%
AMCX	C	0.0%
ZNTL	D	0.0%
ACDC	D	0.0%
PRME	F	0.0%
INNV	D	0.0%
LAZR	C	0.0%
ANGI	F	0.0%
NUS	C	0.0%
LDI	C	0.0%
BRCC	F	0.0%
BIGC	C	0.0%
SAGE	F	0.0%
GOGO	C	0.0%
DH	F	0.0%
TASK	C	0.0%
PL	B	0.0%
DIN	C	0.0%
RGNX	F	0.0%
OLPX	D	0.0%
RUSHB	B	0.0%
VREX	C	0.0%
LASR	F	0.0%
CMP	B	0.0%
CENT	C	0.0%
AMBC	C	0.0%
LESL	C	0.0%
BOWL	F	0.0%
HPK	F	0.0%
ENFN	A	0.0%
TRTX	B	0.0%
SWBI	D	0.0%
KRO	D	0.0%
CRSR	C	0.0%
SNCY	B	0.0%
NAPA	A	0.0%

VB Underweight 48 Positions Relative to FDL

Symbol	Grade	Weight
CVX	A	-8.83%
ABBV	F	-7.93%
VZ	C	-7.28%
PFE	F	-6.2%
PM	A	-5.6%
MO	A	-4.74%
IBM	D	-4.39%
UPS	C	-3.49%
GILD	B	-3.26%
CVS	F	-2.39%
USB	B	-2.37%
DUK	C	-2.17%
TFC	A	-2.16%
PNC	A	-2.05%
KMI	A	-2.01%
OKE	A	-1.87%
F	C	-1.74%
PRU	A	-1.42%
DOW	F	-1.33%
FANG	D	-1.23%
AEP	C	-1.23%
KMB	C	-1.07%
EXC	C	-1.03%
KHC	F	-0.93%
LYB	F	-0.91%
TROW	A	-0.89%
XEL	A	-0.88%
EIX	C	-0.81%
ETR	A	-0.8%
HBAN	A	-0.77%
FITB	A	-0.75%
WEC	A	-0.74%
RF	A	-0.72%
STT	A	-0.67%
KEY	A	-0.65%
ES	C	-0.63%
CFG	A	-0.62%
FE	C	-0.57%
AEE	A	-0.52%
BBY	C	-0.48%
K	B	-0.42%
CLX	A	-0.42%
CAG	F	-0.42%
FNF	C	-0.35%
CNH	D	-0.34%
SWK	F	-0.33%
LNT	A	-0.33%
AGR	A	-0.09%