VBR vs. BSV ETF Comparison

Comparison of Vanguard Small-Cap Value ETF - DNQ (VBR) to Vanguard Short-Term Bond ETF (BSV)

VBR

Vanguard Small-Cap Value ETF - DNQ

VBR Description

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

$177.65

Average Daily Volume

563,959

Number of Holdings ^*

800

* may have additional holdings in another (foreign) market

BSV

Vanguard Short-Term Bond ETF

BSV Description

The investment seeks to track the performance of a market-weighted bond index with a short-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 1-5 Year Government/Credit Float Adjusted Index. This Index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities between 1 and 5 years and are publicly issued. 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 held in the index.

Grade (RS Rating)

Last Trade

$75.92

Average Daily Volume

1,830,906

Number of Holdings ^*

442

* may have additional holdings in another (foreign) market

Performance

Period	VBR	BSV
30 Days	-2.84%	-0.28%
60 Days	-0.97%	-0.18%
90 Days	2.85%	-0.52%
12 Months	14.86%	2.11%

93 Overlapping Holdings

Symbol	Grade	Weight in VBR	Weight in BSV	Overlap
AFG	B	0.3%	0.01%	0.01%
AIZ	C	0.31%	0.01%	0.01%
AL	A	0.14%	0.01%	0.01%
ALLE	C	0.37%	0.01%	0.01%
ALLY	C	0.33%	0.01%	0.01%
AMG	B	0.17%	0.01%	0.01%
AN	A	0.17%	0.01%	0.01%
ARW	C	0.21%	0.01%	0.01%
ATO	C	0.51%	0.01%	0.01%
AVT	B	0.14%	0.01%	0.01%
BC	C	0.2%	0.01%	0.01%
BDN	D	0.02%	0.01%	0.01%
BERY	D	0.21%	0.01%	0.01%
BG	A	0.5%	0.01%	0.01%
BKH	D	0.12%	0.01%	0.01%
BKU	D	0.07%	0.01%	0.01%
BRO	C	0.32%	0.01%	0.01%
BRX	D	0.22%	0.01%	0.01%
BWA	D	0.24%	0.01%	0.01%
BXP	D	0.3%	0.01%	0.01%
CACC	C	0.09%	0.01%	0.01%
CMA	C	0.21%	0.01%	0.01%
CNO	C	0.09%	0.01%	0.01%
CPT	D	0.17%	0.01%	0.01%
CSL	A	0.56%	0.01%	0.01%
DOC	A	0.15%	0.01%	0.01%
DOC	A	0.09%	0.01%	0.01%
DXC	F	0.14%	0.01%	0.01%
EMN	A	0.17%	0.01%	0.01%
EPR	D	0.1%	0.01%	0.01%
EQH	A	0.38%	0.01%	0.01%
FAF	D	0.19%	0.01%	0.01%
FHN	C	0.26%	0.01%	0.01%
FLS	A	0.18%	0.01%	0.01%
FMC	D	0.12%	0.01%	0.01%
FNB	C	0.16%	0.01%	0.01%
FRT	C	0.27%	0.01%	0.01%
GLPI	F	0.38%	0.01%	0.01%
HAS	B	0.22%	0.01%	0.01%
HII	C	0.38%	0.01%	0.01%
HOG	C	0.15%	0.01%	0.01%
HP	A	0.06%	0.01%	0.01%
HRB	C	0.23%	0.01%	0.01%
HUBB	A	0.34%	0.01%	0.01%
IPG	D	0.2%	0.01%	0.01%
IVZ	D	0.22%	0.01%	0.01%
JEF	C	0.2%	0.01%	0.01%
JHG	B	0.14%	0.01%	0.01%
JNPR	C	0.39%	0.01%	0.01%
KIM	D	0.44%	0.01%	0.01%
KMPR	D	0.12%	0.01%	0.01%
KRC	D	0.07%	0.01%	0.01%
KSS	D	0.1%	0.01%	0.01%
LDOS	B	0.29%	0.01%	0.01%
LEG	F	0.09%	0.01%	0.01%
LNC	C	0.15%	0.01%	0.01%
MHK	C	0.21%	0.01%	0.01%
NFG	A	0.15%	0.01%	0.01%
NNN	D	0.25%	0.01%	0.01%
NVT	A	0.37%	0.01%	0.01%
OC	A	0.44%	0.01%	0.01%
OGS	D	0.11%	0.01%	0.01%
OHI	C	0.25%	0.01%	0.01%
ORI	B	0.24%	0.01%	0.01%
PDM	C	0.03%	0.01%	0.01%
PNW	C	0.26%	0.01%	0.01%
PVH	D	0.27%	0.01%	0.01%
R	B	0.16%	0.01%	0.01%
RGA	B	0.38%	0.01%	0.01%
RL	D	0.22%	0.01%	0.01%
RNR	C	0.39%	0.01%	0.01%
RS	A	0.61%	0.01%	0.01%
SBRA	B	0.11%	0.01%	0.01%
SF	B	0.24%	0.01%	0.01%
SITC	C	0.08%	0.01%	0.01%
SKT	C	0.1%	0.01%	0.01%
SLG	C	0.1%	0.01%	0.01%
SNV	B	0.17%	0.01%	0.01%
SNX	A	0.2%	0.01%	0.01%
STLD	A	0.34%	0.01%	0.01%
TAP	B	0.19%	0.02%	0.02%
THG	C	0.14%	0.01%	0.01%
TKR	A	0.18%	0.01%	0.01%
UNM	B	0.27%	0.01%	0.01%
VFC	F	0.19%	0.01%	0.01%
VNO	C	0.15%	0.01%	0.01%
VNT	C	0.22%	0.01%	0.01%
VOYA	C	0.24%	0.01%	0.01%
WAL	D	0.2%	0.01%	0.01%
WHR	D	0.19%	0.01%	0.01%
WLK	A	0.07%	0.01%	0.01%
WRK	A	0.38%	0.01%	0.01%
WU	B	0.16%	0.01%	0.01%

VBR Overweight 707 Positions Relative to BSV

Symbol	Grade	Weight
BLDR	D	0.79%
BAH	C	0.64%
IEX	B	0.59%
JBL	D	0.58%
FCNCA	B	0.53%
EME	A	0.49%
RPM	C	0.49%
XPO	A	0.44%
OVV	A	0.44%
PNR	A	0.42%
TOL	C	0.41%
NRG	A	0.41%
ACM	A	0.4%
WSM	A	0.4%
PFGC	C	0.39%
RRX	C	0.38%
CG	B	0.38%
FFIV	B	0.37%
USFD	A	0.37%
TPR	D	0.36%
CLF	A	0.35%
UTHR	A	0.35%
AAL	F	0.34%
EWBC	B	0.34%
SCI	C	0.34%
CHK	A	0.34%
ITT	B	0.34%
BBWI	D	0.34%
UHS	C	0.32%
BJ	A	0.32%
TTEK	A	0.31%
THC	A	0.31%
X	D	0.31%
JLL	C	0.3%
APA	C	0.3%
ATR	C	0.3%
KNX	D	0.29%
CACI	B	0.28%
DINO	B	0.28%
WTRG	D	0.28%
PRI	D	0.28%
DCI	A	0.28%
RHI	D	0.27%
KBR	A	0.27%
EGP	D	0.27%
WBS	D	0.27%
MKSI	C	0.27%
LAD	D	0.27%
NCLH	D	0.27%
AYI	B	0.26%
ELAN	D	0.26%
ARMK	A	0.26%
GPK	A	0.26%
SEIC	B	0.26%
MUSA	A	0.26%
LEA	D	0.26%
APG	A	0.25%
EHC	A	0.25%
PR	A	0.25%
WCC	D	0.25%
INGR	C	0.25%
SWN	A	0.25%
DKS	A	0.24%
AXTA	C	0.24%
RRC	A	0.24%
OSK	A	0.24%
ACHC	D	0.24%
FCN	A	0.24%
AIT	B	0.24%
SAIC	D	0.24%
HWM	B	0.23%
MSA	A	0.23%
NYT	D	0.23%
XRAY	D	0.23%
AR	A	0.23%
MAT	D	0.23%
AGCO	C	0.23%
FR	C	0.23%
JAZZ	F	0.23%
OGE	C	0.22%
OLN	C	0.22%
UFPI	C	0.22%
ALSN	A	0.22%
STAG	D	0.22%
CFR	A	0.21%
KMX	D	0.21%
FLR	A	0.21%
CMC	A	0.21%
ATKR	A	0.21%
SIGI	B	0.21%
SFM	A	0.21%
EVR	B	0.21%
RLI	C	0.21%
CHRD	A	0.21%
DVA	A	0.21%
SSB	C	0.21%
AGNC	B	0.21%
THO	D	0.21%
BPOP	B	0.2%
STWD	D	0.2%
ANF	D	0.2%
CBSH	A	0.2%
NSIT	C	0.2%
UHAL	D	0.2%
OMF	B	0.19%
ESAB	A	0.19%
GL	F	0.19%
REG	D	0.19%
MTH	C	0.19%
TMHC	C	0.19%
FYBR	A	0.19%
MUR	A	0.19%
ZION	C	0.19%
WTFC	B	0.19%
NXST	C	0.18%
CPRI	F	0.18%
BCC	B	0.18%
ESI	A	0.18%
BECN	A	0.18%
ESNT	C	0.18%
FIX	A	0.18%
MTG	C	0.18%
ADC	D	0.18%
MLI	A	0.18%
SON	B	0.18%
PB	D	0.18%
ASO	D	0.18%
VVV	B	0.18%
WTS	C	0.18%
DTM	A	0.18%
SEE	F	0.17%
SRCL	D	0.17%
COTY	D	0.17%
KD	D	0.17%
CADE	C	0.17%
SUM	C	0.17%
RYN	C	0.17%
UGI	C	0.17%
PBF	A	0.17%
KEX	A	0.17%
LYFT	A	0.17%
ST	D	0.17%
TFX	D	0.17%
CBT	A	0.16%
KBH	D	0.16%
M	D	0.16%
ALK	B	0.16%
AXS	B	0.16%
LPX	C	0.16%
ONB	D	0.16%
PTEN	D	0.16%
LAMR	B	0.16%
AA	A	0.16%
CTLT	C	0.16%
CRUS	C	0.16%
OZK	C	0.16%
PII	D	0.16%
AGO	D	0.16%
HSIC	D	0.16%
ETRN	A	0.15%
MDU	A	0.15%
VMI	D	0.15%
OGN	B	0.15%
ASGN	C	0.15%
RDN	C	0.15%
AIRC	A	0.15%
IDA	D	0.15%
COOP	A	0.15%
GATX	B	0.15%
AM	A	0.15%
COHR	D	0.15%
LNW	C	0.15%
SLM	A	0.15%
CCK	C	0.15%
SWX	A	0.15%
MSM	D	0.15%
UBSI	D	0.15%
IAC	F	0.14%
CNXC	F	0.14%
CHRW	F	0.14%
GBCI	D	0.14%
FFIN	C	0.14%
KNF	A	0.14%
AEO	C	0.14%
WWD	A	0.14%
HOMB	D	0.14%
FUL	C	0.14%
ABG	C	0.14%
WTM	C	0.14%
MOG.A	A	0.14%
ASH	B	0.14%
HUN	D	0.14%
SIG	C	0.14%
Z	F	0.14%
JXN	A	0.14%
AEL	A	0.14%
ZWS	B	0.14%
AMKR	C	0.13%
KRYS	A	0.13%
BBIO	F	0.13%
SYNA	F	0.13%
ESGR	C	0.13%
IOVA	D	0.13%
AAP	C	0.13%
ACA	C	0.13%
POR	D	0.13%
NJR	D	0.13%
MIDD	C	0.13%
SLGN	A	0.12%
GPS	C	0.12%
MAN	D	0.12%
VLY	F	0.12%
NVST	F	0.12%
MAC	C	0.12%
BCO	A	0.12%
BDC	C	0.12%
GPI	C	0.12%
PRGO	D	0.12%
HWC	C	0.12%
CRC	A	0.12%
PCH	F	0.12%
WIRE	A	0.12%
GMS	A	0.12%
AZTA	D	0.12%
TEX	A	0.12%
ITGR	A	0.12%
TDC	F	0.12%
MATX	C	0.12%
AVNT	A	0.12%
GME	F	0.12%
ENS	D	0.12%
MDGL	C	0.12%
MDC	A	0.12%
OTTR	D	0.12%
COLB	F	0.12%
FLO	A	0.12%
ARCB	A	0.11%
FL	F	0.11%
ALE	B	0.11%
NPO	B	0.11%
TPG	B	0.11%
SPR	A	0.11%
NYCB	F	0.11%
APLE	D	0.11%
PK	A	0.11%
KTB	D	0.11%
HI	C	0.11%
BIO	F	0.11%
FTRE	C	0.11%
KFY	C	0.11%
GT	D	0.11%
PSN	A	0.11%
SANM	D	0.11%
TPH	B	0.11%
PBH	C	0.11%
CUZ	C	0.11%
ARCH	B	0.1%
RRR	A	0.1%
NUVL	D	0.1%
FHI	C	0.1%
IBOC	B	0.1%
CC	D	0.1%
AIN	D	0.1%
NWE	D	0.1%
ENOV	D	0.1%
UCBI	D	0.1%
APAM	B	0.1%
NWL	F	0.1%
HCC	A	0.1%
SR	D	0.1%
HELE	F	0.1%
VAC	B	0.1%
ASB	B	0.1%
BHF	D	0.1%
ZD	F	0.1%
RUSHA	A	0.1%
DNB	D	0.1%
PNFP	D	0.1%
WD	D	0.1%
ABCB	D	0.1%
AMED	D	0.1%
MGRC	D	0.1%
TNL	C	0.1%
G	F	0.1%
IOSP	C	0.1%
PAG	D	0.1%
REZI	C	0.1%
PNM	F	0.1%
ALIT	C	0.1%
CNX	A	0.1%
GFF	C	0.1%
PIPR	B	0.1%
UMBF	B	0.1%
WEN	B	0.1%
HIW	B	0.09%
PLXS	C	0.09%
OI	F	0.09%
ESE	D	0.09%
SKYW	A	0.09%
AWR	F	0.09%
FHB	B	0.09%
GTES	A	0.09%
CTRE	A	0.09%
CATY	D	0.09%
URBN	D	0.09%
PARA	F	0.09%
ABM	A	0.09%
AROC	A	0.09%
AX	D	0.09%
SPB	C	0.09%
VSH	F	0.09%
BTU	C	0.09%
TGNA	F	0.09%
MTRN	D	0.09%
GNW	D	0.09%
FBP	B	0.09%
PENN	F	0.09%
BXMT	D	0.09%
BNL	D	0.09%
SMG	A	0.09%
SEM	C	0.09%
HASI	C	0.09%
TCBI	D	0.09%
CRI	D	0.09%
SXT	A	0.09%
SFNC	D	0.08%
MGEE	A	0.08%
GO	B	0.08%
SHO	C	0.08%
PRGS	F	0.08%
PDCO	F	0.08%
FIBK	D	0.08%
MTX	B	0.08%
BLMN	C	0.08%
NHI	A	0.08%
EVTC	D	0.08%
MTZ	B	0.08%
GHC	B	0.08%
BOH	D	0.08%
CBU	D	0.08%
STRA	C	0.08%
VSTS	C	0.08%
IART	F	0.08%
BRC	B	0.08%
AUB	D	0.08%
PINC	F	0.08%
RXO	C	0.08%
HUBG	D	0.08%
POST	C	0.08%
ADTN	F	0.08%
MPW	C	0.08%
FULT	D	0.08%
LXP	C	0.08%
WERN	F	0.08%
SM	A	0.08%
UNF	D	0.08%
BGC	C	0.08%
WSFS	C	0.08%
AVA	D	0.08%
DRH	B	0.07%
FRME	D	0.07%
HNI	C	0.07%
KMT	D	0.07%
PRIM	A	0.07%
WOR	D	0.07%
PSMT	C	0.07%
JWN	D	0.07%
ENR	F	0.07%
IMVT	F	0.07%
EBC	D	0.07%
EAT	C	0.07%
XRX	D	0.07%
SXI	B	0.07%
TRN	A	0.07%
DEI	D	0.07%
PFSI	B	0.07%
VIAV	F	0.07%
OSIS	A	0.07%
OUT	A	0.07%
PECO	D	0.07%
JBLU	C	0.07%
INDB	F	0.07%
PPBI	F	0.07%
VSAT	F	0.07%
VSCO	F	0.07%
AIR	D	0.07%
MLKN	D	0.07%
CVBF	D	0.07%
GVA	A	0.07%
ABR	D	0.07%
RNST	D	0.06%
B	D	0.06%
UAA	F	0.06%
OFG	D	0.06%
TROX	A	0.06%
AZZ	A	0.06%
HEES	A	0.06%
JOBY	F	0.06%
DY	A	0.06%
ANDE	A	0.06%
OMI	A	0.06%
TOWN	D	0.06%
THS	F	0.06%
WAFD	D	0.06%
MYGN	D	0.06%
MC	C	0.06%
HBI	D	0.06%
MIR	A	0.06%
CWEN	D	0.06%
CWK	C	0.06%
EYE	F	0.06%
HURN	D	0.06%
EPC	D	0.06%
PRK	C	0.06%
BLKB	A	0.06%
ATGE	D	0.06%
AUR	B	0.06%
GOLF	C	0.06%
SCL	D	0.06%
LAUR	A	0.06%
ODP	D	0.06%
UE	D	0.06%
PWSC	D	0.06%
PEB	C	0.06%
CNK	A	0.06%
EQC	F	0.06%
VRNT	D	0.06%
CENTA	D	0.06%
CAR	F	0.06%
FFBC	D	0.06%
BOKF	B	0.06%
PRG	D	0.05%
IDCC	C	0.05%
NMRK	D	0.05%
CNNE	D	0.05%
CODI	C	0.05%
UNIT	D	0.05%
HTH	D	0.05%
CHCO	D	0.05%
DOOR	A	0.05%
COMP	C	0.05%
TTMI	D	0.05%
NWBI	D	0.05%
CBRL	F	0.05%
NTCT	F	0.05%
KN	D	0.05%
GEO	A	0.05%
JELD	C	0.05%
PACB	F	0.05%
TRMK	C	0.05%
HMN	C	0.05%
VGR	D	0.05%
DBRG	D	0.05%
BANR	D	0.05%
DNOW	A	0.05%
OXM	B	0.05%
CRS	A	0.05%
SHOO	D	0.05%
NATL	C	0.05%
GBX	A	0.05%
NBTB	D	0.05%
TDS	F	0.05%
CSGS	F	0.05%
IBTX	D	0.05%
SUPN	C	0.05%
ROIC	D	0.05%
DK	A	0.05%
VIRT	A	0.05%
REYN	C	0.05%
SFBS	D	0.05%
SATS	C	0.05%
GEF	D	0.05%
ARI	C	0.05%
BANF	D	0.05%
VRTS	D	0.05%
JBGS	D	0.05%
PHIN	A	0.05%
INFA	A	0.05%
XHR	B	0.05%
IVT	D	0.05%
CAKE	C	0.05%
DAN	F	0.05%
LITE	F	0.05%
WSBC	D	0.05%
LUMN	F	0.05%
LZB	D	0.05%
CXW	A	0.05%
KAR	A	0.05%
GNL	F	0.05%
UA	F	0.05%
AKR	A	0.05%
ECPG	D	0.04%
SCSC	C	0.04%
PFS	F	0.04%
DNUT	B	0.04%
KALU	A	0.04%
UVV	D	0.04%
KOP	A	0.04%
SVC	F	0.04%
SPNT	C	0.04%
PPC	A	0.04%
STBA	D	0.04%
CMTG	F	0.04%
NX	A	0.04%
SAFT	C	0.04%
LGF.A	A	0.04%
INSW	A	0.04%
CVI	C	0.04%
EIG	C	0.04%
ALEX	F	0.04%
PMT	C	0.04%
WABC	D	0.04%
MSGE	A	0.04%
SCS	D	0.04%
RKLB	F	0.04%
LRN	D	0.04%
LADR	C	0.04%
BKE	D	0.04%
GTY	D	0.04%
HOPE	D	0.04%
ICUI	F	0.04%
WNC	C	0.04%
APOG	B	0.04%
FCF	D	0.04%
NBHC	D	0.04%
GIII	D	0.04%
NHC	D	0.04%
ESRT	C	0.04%
NWN	F	0.04%
DDS	D	0.04%
KAMN	A	0.04%
LTC	C	0.04%
KFRC	D	0.04%
LGND	A	0.04%
HE	F	0.04%
RNG	F	0.04%
NAVI	D	0.04%
SBH	F	0.04%
MCY	A	0.04%
VCTR	A	0.03%
AMRX	C	0.03%
RGR	C	0.03%
WWW	D	0.03%
MD	D	0.03%
AXL	D	0.03%
REVG	A	0.03%
FA	D	0.03%
SEB	F	0.03%
VSTO	A	0.03%
LEVI	A	0.03%
EMBC	F	0.03%
AMWD	C	0.03%
HLF	D	0.03%
BRKL	D	0.03%
ETWO	D	0.03%
MATW	F	0.03%
MMI	D	0.03%
LC	C	0.03%
DLX	D	0.03%
AAT	D	0.03%
AMC	F	0.03%
BASE	D	0.03%
AVNS	F	0.03%
SNDR	F	0.03%
UNFI	F	0.03%
INVA	D	0.03%
ACT	A	0.03%
BHLB	D	0.03%
CRGY	C	0.03%
CDE	B	0.03%
HPP	F	0.03%
MATV	A	0.03%
HAIN	F	0.03%
BRSP	D	0.03%
AGIO	D	0.03%
BGS	B	0.03%
EPAC	A	0.03%
NWLI	A	0.03%
THR	A	0.03%
FDP	A	0.03%
ASTE	B	0.03%
MRC	B	0.03%
PRLB	D	0.03%
HCSG	C	0.03%
STEP	A	0.03%
PRAA	C	0.03%
AIV	A	0.03%
TRS	D	0.03%
HTZ	F	0.03%
CHGG	F	0.03%
SCHL	D	0.03%
CIM	F	0.03%
MNRO	F	0.03%
ECVT	C	0.03%
BKD	A	0.03%
HAYW	C	0.03%
WS	B	0.03%
NNI	A	0.03%
HL	B	0.03%
BHE	B	0.03%
ZG	F	0.03%
WMK	D	0.03%
KW	F	0.02%
CMP	F	0.02%
KREF	D	0.02%
BFS	D	0.02%
RDUS	F	0.02%
NAPA	F	0.02%
ACCO	D	0.02%
DAWN	C	0.02%
PTVE	A	0.02%
TGI	D	0.02%
CWH	F	0.02%
CCO	F	0.02%
BMBL	F	0.02%
TMP	F	0.02%
USNA	F	0.02%
UFCS	D	0.02%
UDMY	F	0.02%
CRNC	F	0.02%
UHAL	D	0.02%
CARS	F	0.02%
FOR	A	0.02%
SWI	D	0.02%
OMCL	F	0.02%
CNDT	D	0.02%
HY	C	0.02%
HTLD	F	0.02%
NUS	F	0.02%
LGF.A	A	0.02%
HTLF	C	0.02%
PRA	C	0.02%
KNSA	D	0.02%
ATUS	F	0.02%
CAL	D	0.02%
PBI	C	0.02%
EGBN	F	0.02%
SMTC	A	0.02%
SAH	D	0.02%
CWEN	D	0.02%
PUMP	C	0.02%
VREX	F	0.02%
AMBC	D	0.02%
FG	D	0.02%
DIN	F	0.02%
MXL	C	0.02%
RWT	F	0.02%
MEI	F	0.02%
HLIO	B	0.02%
KELYA	B	0.02%
CFFN	D	0.02%
GES	A	0.02%
ATSG	F	0.02%
APPS	F	0.01%
LDI	D	0.01%
SMR	B	0.01%
GDOT	F	0.01%
OPK	C	0.01%
ACDC	C	0.01%
BRCC	C	0.01%
KRO	A	0.01%
WOOF	F	0.01%
FORR	F	0.01%
TRTX	A	0.01%
ALX	B	0.01%
SSP	F	0.01%
GPRO	F	0.01%
UWMC	D	0.01%
EE	C	0.01%
TWKS	F	0.01%
ADV	A	0.01%
NVRI	C	0.01%
SWBI	A	0.01%
BV	A	0.01%
INN	B	0.01%
TTEC	F	0.01%
EAF	C	0.01%
GCMG	A	0.01%
KRNY	F	0.01%
CLB	C	0.01%
SAVE	F	0.01%
RUSHB	C	0.01%
RMR	D	0.01%
ZIP	F	0.01%
BJRI	D	0.01%
AMK	A	0.01%
AMCX	F	0.01%
WRLD	A	0.01%
NPK	A	0.01%
CENT	D	0.01%
GRC	B	0.01%
NABL	D	0.01%
TILE	C	0.01%
MED	F	0.01%
CLBK	D	0.01%
DBI	F	0.01%
USM	F	0.01%
RC	F	0.0%
AC	F	0.0%
WOW	D	0.0%
SKIN	D	0.0%
ME	F	0.0%
OLPX	F	0.0%
COMM	F	0.0%
PAHC	A	0.0%
GEF	D	0.0%
CRCT	D	0.0%

VBR Underweight 350 Positions Relative to BSV

Symbol	Grade	Weight
WIT	D	-0.26%
CARR	B	-0.03%
STLA	C	-0.02%
BIIB	F	-0.02%
KLAC	A	-0.02%
MDT	D	-0.02%
NOC	D	-0.02%
NI	A	-0.02%
VOD	F	-0.02%
ETN	A	-0.02%
MCHP	B	-0.02%
OTIS	A	-0.02%
DD	B	-0.02%
VZ	B	-0.02%
V	C	-0.02%
CHTR	F	-0.02%
NEU	C	-0.01%
NDAQ	A	-0.01%
NTAP	A	-0.01%
MOS	F	-0.01%
MAS	B	-0.01%
PCAR	A	-0.01%
MA	C	-0.01%
MLM	A	-0.01%
LIN	B	-0.01%
MCO	C	-0.01%
HRL	C	-0.01%
INTU	C	-0.01%
HES	A	-0.01%
JD	C	-0.01%
IFF	A	-0.01%
L	C	-0.01%
JCI	A	-0.01%
H	A	-0.01%
GXO	F	-0.01%
KMB	A	-0.01%
ES	D	-0.01%
EQR	C	-0.01%
DHI	C	-0.01%
FTNT	D	-0.01%
EL	F	-0.01%
EFX	D	-0.01%
DAL	A	-0.01%
EA	D	-0.01%
GBDC	A	-0.01%
BAX	C	-0.01%
CNA	C	-0.01%
CMI	A	-0.01%
CLX	D	-0.01%
AVB	B	-0.01%
AEP	C	-0.01%
AEE	D	-0.01%
ADM	C	-0.01%
CHD	A	-0.01%
CF	C	-0.01%
CE	B	-0.01%
CDNS	B	-0.01%
AON	D	-0.01%
A	B	-0.01%
BEN	D	-0.01%
BCSF	A	-0.01%
WEC	D	-0.01%
TEL	A	-0.01%
SYK	C	-0.01%
SWK	C	-0.01%
TRMB	B	-0.01%
XEL	D	-0.01%
WPC	D	-0.01%
PXD	A	-0.01%
ROST	C	-0.01%
PHM	C	-0.01%
PFG	B	-0.01%
SPGI	C	-0.01%
PPG	D	-0.01%
MAIN	A	-0.01%
MAA	D	-0.01%
NEM	B	-0.01%
ORLY	A	-0.01%
OPI	F	-0.01%
LNT	D	-0.01%
LLY	B	-0.01%
LII	B	-0.01%
OCSL	B	-0.01%
MSI	A	-0.01%
LAZ	C	-0.01%
NTRS	C	-0.01%
MRVL	C	-0.01%
MCK	A	-0.01%
NSC	C	-0.01%
MP	B	-0.01%
KEYS	C	-0.01%
K	A	-0.01%
GSBD	A	-0.01%
HSY	F	-0.01%
IP	C	-0.01%
ILMN	F	-0.01%
JBHT	D	-0.01%
GWW	B	-0.01%
KR	A	-0.01%
DLR	C	-0.01%
EMR	A	-0.01%
FTV	C	-0.01%
FDX	A	-0.01%
ED	C	-0.01%
CUBE	C	-0.01%
DVN	A	-0.01%
CTVA	C	-0.01%
FLEX	A	-0.01%
DOW	A	-0.01%
DOV	A	-0.01%
COKE	D	-0.01%
ALB	D	-0.01%
CNP	D	-0.01%
CNHI	B	-0.01%
BABA	F	-0.01%
CMS	B	-0.01%
AWH	D	-0.01%
BR	B	-0.01%
ADSK	D	-0.01%
ADI	B	-0.01%
CFG	C	-0.01%
APTV	F	-0.01%
APH	A	-0.01%
APD	D	-0.01%
AMAT	A	-0.01%
CP	B	-0.01%
COST	C	-0.01%
UDR	D	-0.01%
UAL	F	-0.01%
TDY	D	-0.01%
WAB	A	-0.01%
TXT	A	-0.01%
TSLX	C	-0.01%
SWKS	D	-0.01%
VMC	B	-0.01%
WY	D	-0.01%
WM	B	-0.01%
ROK	D	-0.01%
PSEC	D	-0.01%
PSA	D	-0.01%
SCCO	A	-0.01%
RF	C	-0.01%
HAL	A	-0.01%
KO	D	-0.01%
ESS	B	-0.01%
KEY	B	-0.01%
KDP	C	-0.01%
HUM	D	-0.01%
NUE	A	-0.01%
LYB	B	-0.01%
MMM	A	-0.01%
LHX	C	-0.01%
LH	F	-0.01%
MET	B	-0.01%
O	D	-0.01%
NXPI	C	-0.01%
MDLZ	D	-0.01%
BHP	D	-0.01%
CRM	D	-0.01%
AZO	C	-0.01%
AWK	F	-0.01%
CME	C	-0.01%
AGR	A	-0.01%
CL	B	-0.01%
DHR	C	-0.01%
DTE	D	-0.01%
EVRG	D	-0.01%
ETR	B	-0.01%
HST	C	-0.01%
GP	F	-0.01%
MAR	B	-0.01%
LRCX	A	-0.01%
MKC	B	-0.01%
AMGN	D	-0.01%
WB	F	-0.01%
VTR	D	-0.01%
SYY	C	-0.01%
SYF	B	-0.01%
ZTS	F	-0.01%
VRSK	D	-0.01%
SRE	D	-0.01%
PKG	A	-0.01%
PYPL	A	-0.01%
PRU	B	-0.01%
PEG	A	-0.01%
AES	D	-0.01%
ADP	C	-0.01%
ABT	C	-0.01%
HBAN	B	-0.01%
KMI	A	-0.01%
DLTR	D	-0.01%
EOG	A	-0.01%
DGX	C	-0.01%
EIX	B	-0.01%
DE	A	-0.01%
FSK	B	-0.01%
D	C	-0.01%
EBAY	A	-0.01%
LEN	C	-0.01%
NVDA	A	-0.01%
ITW	C	-0.01%
UNP	C	-0.01%
TT	A	-0.01%
AFL	B	-0.01%
ADBE	D	-0.01%
BLK	C	-0.01%
BIDU	F	-0.01%
FANG	A	-0.01%
CSX	D	-0.01%
CSCO	D	-0.01%
EXPE	D	-0.01%
EXC	D	-0.01%
CAH	C	-0.01%
TJX	C	-0.01%
PM	D	-0.01%
RSG	A	-0.01%
SHW	C	-0.01%
ROP	C	-0.01%
PG	C	-0.01%
PPL	B	-0.01%
AMT	D	-0.01%
COP	A	-0.01%
STT	B	-0.01%
VLO	A	-0.01%
TMO	B	-0.01%
WMB	A	-0.01%
SLB	C	-0.01%
QCOM	A	-0.01%
RPRX	D	-0.01%
PH	A	-0.01%
CB	C	-0.01%
CPB	B	-0.01%
USB	B	-0.01%
UPS	D	-0.01%
TGT	A	-0.01%
UNH	D	-0.01%
WBA	F	-0.01%
AIG	A	-0.01%
CM	B	-0.01%
AER	A	-0.01%
BK	B	-0.01%
CCI	D	-0.01%
DUK	B	-0.01%
GD	A	-0.01%
CAF	F	-0.01%
ICE	C	-0.01%
ET	A	-0.01%
EQIX	D	-0.01%
FOXA	C	-0.01%
OMC	A	-0.01%
MCD	D	-0.01%
MRK	B	-0.01%
GPN	C	-0.01%
HON	D	-0.01%
JNJ	F	-0.01%
GIS	B	-0.01%
HD	D	-0.01%
GE	A	-0.01%
SBUX	F	-0.01%
SPG	C	-0.01%
LVS	D	-0.01%
NKE	D	-0.01%
MMC	C	-0.01%
PAA	A	-0.01%
TFC	B	-0.01%
TXN	B	-0.01%
ZBH	C	-0.01%
STZ	A	-0.01%
PNC	B	-0.01%
RTX	A	-0.01%
PSX	A	-0.01%
PFE	F	-0.01%
BKNG	C	-0.01%
ARE	C	-0.01%
ARCC	A	-0.01%
BDX	D	-0.01%
AMP	B	-0.01%
CAT	A	-0.01%
BSX	A	-0.01%
AVGO	A	-0.01%
DIS	A	-0.01%
DG	C	-0.01%
DFS	B	-0.01%
EDC	D	-0.01%
FIS	A	-0.01%
ALL	A	-0.01%
COE	D	-0.01%
CAG	B	-0.01%
GOOGL	A	-0.01%
HPQ	D	-0.01%
MPLX	B	-0.01%
GSK	C	-0.01%
MO	B	-0.01%
LOW	D	-0.01%
OKE	A	-0.01%
MU	A	-0.01%
MTB	C	-0.01%
AMZN	A	-0.01%
AXP	A	-0.01%
EPD	A	-0.01%
DB	A	-0.01%
COF	B	-0.01%
INTC	F	-0.01%
GILD	F	-0.01%
MPC	A	-0.01%
NEE	B	-0.01%
RY	B	-0.01%
PEP	C	-0.01%
VTRS	D	-0.01%
AZN	A	-0.01%
BNS	B	-0.01%
FITB	B	-0.01%
HCA	B	-0.01%
EQNR	C	-0.01%
CVX	A	-0.01%
NWG	A	-0.01%
IBM	C	-0.01%
HPE	A	-0.01%
SCHW	A	-0.01%
PCG	C	-0.01%
LUV	D	-0.01%
LMT	A	-0.01%
TSN	A	-0.01%
WMT	A	-0.01%
SO	C	-0.01%
T	D	-0.01%
TMUS	C	-0.01%
WELL	C	-0.01%
TD	D	-0.01%
CI	A	-0.01%
ORCL	A	-0.01%
BMO	B	-0.01%
CMCSA	D	-0.01%
GM	A	-0.01%
XOM	A	-0.01%
ABBV	C	-0.01%
BMY	F	-0.01%
CVS	D	-0.01%
GS	A	-0.01%
MSFT	B	-0.01%
MUFG	C	-0.01%
BA	F	-0.01%
HSBC	A	-0.01%
AAPL	F	-0.01%
DELL	A	-0.01%
WFC	A	-0.01%
C	C	-0.01%
MS	A	-0.01%
BAC	B	-0.01%
JPM	B	-0.01%