VBR vs. IJH ETF Comparison

Comparison of Vanguard Small-Cap Value ETF - DNQ (VBR) to iShares Core S&P Mid-Cap ETF (IJH)

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

$213.68

Average Daily Volume

430,349

Number of Holdings ^*

794

* may have additional holdings in another (foreign) market

IJH

iShares Core S&P Mid-Cap ETF

IJH Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities. 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 S&P MidCap 400® (the "underlying index"), which measures the performance of the mid-capitalization sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$66.68

Average Daily Volume

7,185,405

Number of Holdings ^*

401

* may have additional holdings in another (foreign) market

Performance

Period	VBR	IJH
30 Days	5.18%	4.77%
60 Days	6.13%	6.08%
90 Days	7.24%	6.49%
12 Months	32.19%	30.83%

249 Overlapping Holdings

	Symbol	Grade	Weight in VBR	Weight in IJH	Overlap
	AA	A	0.3%	0.38%	0.3%
	AAL	B	0.26%	0.31%	0.26%
	ACHC	F	0.11%	0.12%	0.11%
	ACM	B	0.42%	0.48%	0.42%
	ADC	A	0.22%	0.25%	0.22%
	AFG	A	0.28%	0.33%	0.28%
	AGCO	D	0.19%	0.19%	0.19%
	AIT	B	0.26%	0.34%	0.26%
	ALE	A	0.11%	0.12%	0.11%
	ALLY	C	0.28%	0.33%	0.28%
	AM	A	0.14%	0.17%	0.14%
	AMED	F	0.09%	0.1%	0.09%
	AMG	B	0.16%	0.19%	0.16%
	AMKR	D	0.08%	0.09%	0.08%
	AN	C	0.15%	0.14%	0.14%
	ANF	F	0.2%	0.25%	0.2%
	AR	B	0.11%	0.3%	0.11%
	ARMK	B	0.29%	0.33%	0.29%
	ARW	D	0.18%	0.2%	0.18%
	ASB	B	0.1%	0.13%	0.1%
	ASGN	F	0.11%	0.13%	0.11%
	ASH	F	0.11%	0.13%	0.11%
	ATR	B	0.33%	0.37%	0.33%
	AVNT	B	0.12%	0.15%	0.12%
	AVT	C	0.14%	0.16%	0.14%
	AXTA	B	0.24%	0.29%	0.24%
	AYI	B	0.27%	0.33%	0.27%
	AZTA	D	0.06%	0.07%	0.06%
	BC	C	0.15%	0.18%	0.15%
	BCO	F	0.13%	0.13%	0.13%
	BDC	C	0.14%	0.16%	0.14%
	BERY	C	0.22%	0.25%	0.22%
	BHF	C	0.08%	0.1%	0.08%
	BIO	C	0.2%	0.2%	0.2%
	BJ	A	0.33%	0.39%	0.33%
	BKH	A	0.12%	0.15%	0.12%
	BLKB	B	0.06%	0.11%	0.06%
	BRX	A	0.24%	0.29%	0.24%
	BYD	B	0.07%	0.17%	0.07%
	CACI	D	0.36%	0.35%	0.35%
	CADE	B	0.18%	0.0%	0.0%
	CAR	C	0.04%	0.06%	0.04%
	CBSH	B	0.21%	0.28%	0.21%
	CBT	D	0.17%	0.2%	0.17%
	CC	C	0.08%	0.09%	0.08%
	CCK	D	0.33%	0.36%	0.33%
	CDP	C	0.11%	0.11%	0.11%
	CFR	B	0.21%	0.3%	0.21%
	CG	B	0.34%	0.35%	0.34%
	CHRD	D	0.23%	0.26%	0.23%
	CLF	F	0.18%	0.18%	0.18%
	CMC	B	0.18%	0.23%	0.18%
	CNO	B	0.1%	0.14%	0.1%
	CNX	A	0.14%	0.19%	0.14%
	CNXC	F	0.07%	0.06%	0.06%
	COHR	B	0.21%	0.49%	0.21%
	COLB	B	0.17%	0.22%	0.17%
	COLM	C	0.04%	0.09%	0.04%
	COTY	F	0.08%	0.09%	0.08%
	CPRI	F	0.06%	0.08%	0.06%
	CR	A	0.22%	0.28%	0.22%
	CRI	F	0.05%	0.06%	0.05%
	CRUS	D	0.17%	0.18%	0.17%
	CSL	C	0.57%	0.68%	0.57%
	CUZ	B	0.14%	0.16%	0.14%
	CXT	C	0.08%	0.09%	0.08%
	DCI	B	0.26%	0.31%	0.26%
	DINO	D	0.18%	0.23%	0.18%
	DKS	D	0.23%	0.38%	0.23%
	DTM	A	0.26%	0.33%	0.26%
	EGP	D	0.24%	0.28%	0.24%
	EHC	B	0.29%	0.33%	0.29%
	EME	A	0.61%	0.77%	0.61%
	ENOV	C	0.07%	0.09%	0.07%
	ENS	F	0.11%	0.13%	0.11%
	EPR	C	0.1%	0.11%	0.1%
	EQH	C	0.42%	0.0%	0.0%
	ESAB	C	0.21%	0.23%	0.21%
	ESNT	F	0.18%	0.2%	0.18%
	EVR	B	0.28%	0.36%	0.28%
	EWBC	A	0.39%	0.48%	0.39%
	FAF	A	0.18%	0.22%	0.18%
	FBIN	D	0.3%	0.31%	0.3%
	FCN	F	0.2%	0.23%	0.2%
	FFIN	B	0.13%	0.18%	0.13%
	FHI	B	0.09%	0.11%	0.09%
	FHN	A	0.27%	0.36%	0.27%
	FLO	D	0.12%	0.14%	0.12%
	FLR	B	0.26%	0.3%	0.26%
	FLS	B	0.2%	0.26%	0.2%
	FNB	A	0.15%	0.2%	0.15%
	FR	D	0.2%	0.23%	0.2%
	FYBR	C	0.26%	0.26%	0.26%
	G	B	0.2%	0.24%	0.2%
	GAP	C	0.15%	0.16%	0.15%
	GATX	A	0.14%	0.18%	0.14%
	GBCI	B	0.17%	0.21%	0.17%
	GEF	A	0.04%	0.06%	0.04%
	GEF	A	0.0%	0.06%	0.0%
	GHC	B	0.08%	0.11%	0.08%
	GLPI	C	0.38%	0.45%	0.38%
	GME	C	0.25%	0.34%	0.25%
	GPK	C	0.25%	0.28%	0.25%
	GT	C	0.07%	0.09%	0.07%
	HOG	D	0.11%	0.13%	0.11%
	HOMB	A	0.14%	0.19%	0.14%
	HRB	D	0.24%	0.28%	0.24%
	HWC	B	0.13%	0.17%	0.13%
	IBOC	B	0.1%	0.13%	0.1%
	IDA	A	0.16%	0.21%	0.16%
	INGR	C	0.25%	0.31%	0.25%
	IPGP	D	0.06%	0.07%	0.06%
	ITT	A	0.33%	0.42%	0.33%
	JAZZ	B	0.19%	0.25%	0.19%
	JEF	A	0.27%	0.4%	0.27%
	JHG	B	0.15%	0.19%	0.15%
	JLL	D	0.38%	0.41%	0.38%
	JWN	D	0.09%	0.07%	0.07%
	KBH	D	0.15%	0.19%	0.15%
	KBR	F	0.26%	0.26%	0.26%
	KD	B	0.15%	0.21%	0.15%
	KEX	B	0.19%	0.25%	0.19%
	KMPR	A	0.11%	0.14%	0.11%
	KNF	B	0.16%	0.18%	0.16%
	KNX	C	0.23%	0.3%	0.23%
	KRC	B	0.14%	0.14%	0.14%
	LAD	A	0.26%	0.33%	0.26%
	LAMR	C	0.17%	0.37%	0.17%
	LEA	F	0.16%	0.18%	0.16%
	LPX	B	0.18%	0.23%	0.18%
	M	F	0.12%	0.14%	0.12%
	MAN	F	0.09%	0.1%	0.09%
	MAT	D	0.2%	0.21%	0.2%
	MIDD	C	0.2%	0.24%	0.2%
	MKSI	C	0.2%	0.24%	0.2%
	MSA	F	0.18%	0.23%	0.18%
	MSM	C	0.1%	0.12%	0.1%
	MTG	C	0.19%	0.21%	0.19%
	MTZ	B	0.11%	0.28%	0.11%
	MUR	D	0.13%	0.15%	0.13%
	MUSA	B	0.26%	0.33%	0.26%
	NFG	A	0.16%	0.19%	0.16%
	NJR	A	0.13%	0.16%	0.13%
	NNN	C	0.23%	0.26%	0.23%
	NSP	F	0.08%	0.09%	0.08%
	NVST	B	0.11%	0.12%	0.11%
	NVT	B	0.36%	0.4%	0.36%
	NWE	B	0.1%	0.11%	0.1%
	NXST	C	0.16%	0.16%	0.16%
	NYT	D	0.25%	0.29%	0.25%
	OC	A	0.45%	0.56%	0.45%
	OGE	A	0.23%	0.29%	0.23%
	OGS	A	0.12%	0.14%	0.12%
	OHI	C	0.32%	0.34%	0.32%
	OLN	F	0.14%	0.16%	0.14%
	ONB	C	0.18%	0.23%	0.18%
	ORI	A	0.24%	0.3%	0.24%
	OSK	C	0.19%	0.24%	0.19%
	OVV	B	0.3%	0.38%	0.3%
	OZK	B	0.14%	0.17%	0.14%
	PAG	B	0.09%	0.1%	0.09%
	PB	B	0.19%	0.26%	0.19%
	PBF	D	0.08%	0.1%	0.08%
	PCH	F	0.1%	0.1%	0.1%
	PFGC	B	0.37%	0.43%	0.37%
	PII	F	0.11%	0.12%	0.11%
	PK	C	0.08%	0.1%	0.08%
	PNFP	B	0.11%	0.32%	0.11%
	POR	C	0.14%	0.16%	0.14%
	POST	C	0.07%	0.17%	0.07%
	PPC	C	0.05%	0.07%	0.05%
	PR	B	0.13%	0.31%	0.13%
	PRGO	C	0.1%	0.12%	0.1%
	PRI	B	0.27%	0.34%	0.27%
	PSN	D	0.15%	0.15%	0.15%
	PVH	C	0.16%	0.19%	0.16%
	R	B	0.18%	0.23%	0.18%
	RGA	A	0.41%	0.51%	0.41%
	RLI	A	0.2%	0.24%	0.2%
	RNR	C	0.4%	0.45%	0.4%
	RPM	A	0.48%	0.58%	0.48%
	RRC	B	0.2%	0.27%	0.2%
	RRX	B	0.32%	0.38%	0.32%
	RS	B	0.46%	0.57%	0.46%
	RYN	D	0.14%	0.13%	0.13%
	SAIC	F	0.22%	0.21%	0.21%
	SBRA	C	0.13%	0.14%	0.13%
	SCI	B	0.33%	0.41%	0.33%
	SEIC	B	0.26%	0.26%	0.26%
	SF	B	0.29%	0.39%	0.29%
	SFM	A	0.38%	0.47%	0.38%
	SIGI	C	0.16%	0.2%	0.16%
	SLGN	A	0.12%	0.14%	0.12%
	SLM	A	0.14%	0.18%	0.14%
	SMG	C	0.11%	0.11%	0.11%
	SNV	C	0.2%	0.27%	0.2%
	SNX	D	0.22%	0.29%	0.22%
	SON	F	0.15%	0.16%	0.15%
	SR	A	0.1%	0.13%	0.1%
	SSB	B	0.22%	0.27%	0.22%
	ST	F	0.15%	0.16%	0.15%
	STAG	D	0.2%	0.22%	0.2%
	STWD	C	0.18%	0.21%	0.18%
	SWX	B	0.13%	0.15%	0.13%
	SYNA	C	0.08%	0.1%	0.08%
	TCBI	C	0.1%	0.13%	0.1%
	TDC	D	0.09%	0.09%	0.09%
	TEX	F	0.1%	0.12%	0.1%
	THC	D	0.43%	0.5%	0.43%
	THG	A	0.14%	0.2%	0.14%
	THO	B	0.15%	0.19%	0.15%
	TKR	D	0.15%	0.16%	0.15%
	TMHC	C	0.2%	0.24%	0.2%
	TNL	A	0.09%	0.12%	0.09%
	TOL	B	0.44%	0.52%	0.44%
	TTEK	F	0.38%	0.37%	0.37%
	UA	C	0.03%	0.04%	0.03%
	UAA	C	0.05%	0.06%	0.05%
	UBSI	B	0.15%	0.19%	0.15%
	UFPI	C	0.21%	0.26%	0.21%
	UGI	C	0.15%	0.17%	0.15%
	UMBF	B	0.13%	0.18%	0.13%
	UNM	A	0.28%	0.0%	0.0%
	USFD	A	0.44%	0.53%	0.44%
	UTHR	C	0.49%	0.54%	0.49%
	VAC	C	0.07%	0.1%	0.07%
	VC	F	0.04%	0.08%	0.04%
	VLY	B	0.12%	0.16%	0.12%
	VMI	B	0.18%	0.23%	0.18%
	VNO	C	0.22%	0.22%	0.22%
	VNT	C	0.17%	0.19%	0.17%
	VOYA	B	0.23%	0.27%	0.23%
	VSH	F	0.06%	0.06%	0.06%
	VVV	D	0.15%	0.18%	0.15%
	WAL	B	0.25%	0.33%	0.25%
	WBS	A	0.26%	0.34%	0.26%
	WCC	B	0.28%	0.3%	0.28%
	WEN	D	0.1%	0.1%	0.1%
	WHR	B	0.17%	0.21%	0.17%
	WLK	D	0.07%	0.14%	0.07%
	WSM	C	0.39%	0.56%	0.39%
	WTFC	A	0.23%	0.29%	0.23%
	WTRG	B	0.28%	0.32%	0.28%
	WTS	B	0.15%	0.19%	0.15%
	WU	F	0.11%	0.0%	0.0%
	X	B	0.23%	0.27%	0.23%
	XPO	B	0.21%	0.56%	0.21%
	XRAY	F	0.14%	0.12%	0.12%
	ZION	B	0.22%	0.29%	0.22%

VBR Overweight 545 Positions Relative to IJH

	Symbol	Grade	Weight
	SW	A	0.78%
	BAH	F	0.69%
	FCNCA	A	0.61%
	BLDR	D	0.58%
	ATO	A	0.58%
	NRG	B	0.55%
	PNR	A	0.48%
	KIM	A	0.47%
	IEX	C	0.47%
	FFIV	B	0.4%
	JBL	C	0.39%
	REG	A	0.38%
	JNPR	D	0.37%
	ALLE	C	0.36%
	EMN	C	0.36%
	LDOS	C	0.36%
	CPT	B	0.36%
	BG	D	0.35%
	SJM	D	0.34%
	CHRW	B	0.34%
	UHS	D	0.34%
	AES	F	0.34%
	KMX	B	0.33%
	BXP	C	0.33%
	HUBB	B	0.33%
	TPR	B	0.32%
	IPG	D	0.32%
	EPAM	B	0.3%
	AIZ	A	0.29%
	PNW	A	0.29%
	SOLV	D	0.29%
	TAP	C	0.28%
	TFX	F	0.28%
	GL	C	0.28%
	STLD	B	0.28%
	LKQ	F	0.28%
	Z	A	0.27%
	FRT	B	0.27%
	MLI	B	0.27%
	ALSN	B	0.27%
	APA	D	0.26%
	HSIC	C	0.26%
	APG	B	0.25%
	CMA	B	0.25%
	MOS	F	0.25%
	HAS	D	0.25%
	VFC	C	0.24%
	FMC	D	0.24%
	DOC	C	0.23%
	NI	A	0.23%
	IVZ	B	0.22%
	JXN	C	0.22%
	RL	C	0.22%
	BWA	D	0.22%
	MHK	D	0.21%
	HII	F	0.21%
	AGNC	C	0.21%
	RHI	C	0.2%
	QRVO	F	0.2%
	BPOP	C	0.19%
	LUMN	C	0.19%
	MTH	D	0.19%
	EVRG	A	0.19%
	UHAL	D	0.19%
	ALK	B	0.18%
	BBWI	C	0.18%
	ELAN	D	0.18%
	BECN	B	0.17%
	NSIT	F	0.17%
	SRCL	B	0.17%
	ACI	C	0.17%
	PARA	C	0.17%
	SUM	B	0.17%
	SIRI	C	0.17%
	DVA	C	0.17%
	ESI	B	0.17%
	LNC	C	0.17%
	AXS	A	0.17%
	OMF	A	0.17%
	COOP	B	0.16%
	MOG.A	B	0.16%
	TPG	A	0.16%
	ALB	B	0.16%
	NCLH	B	0.16%
	MDU	D	0.16%
	BCC	B	0.15%
	MATX	C	0.15%
	RDN	D	0.15%
	GPI	B	0.14%
	KTB	B	0.14%
	PIPR	A	0.14%
	MDGL	B	0.14%
	OGN	F	0.14%
	AUR	C	0.14%
	SLG	B	0.14%
	ZWS	B	0.14%
	RIVN	F	0.13%
	WTM	A	0.13%
	EAT	A	0.13%
	LYFT	C	0.13%
	AL	B	0.13%
	ABG	C	0.13%
	GTES	A	0.13%
	ACA	A	0.13%
	DNB	B	0.12%
	ICUI	D	0.12%
	FUL	F	0.12%
	MAC	B	0.12%
	ABCB	B	0.12%
	EDR	A	0.12%
	HASI	D	0.12%
	ITGR	B	0.12%
	AGO	B	0.12%
	CRC	A	0.12%
	MGM	D	0.12%
	SEE	C	0.12%
	TPH	D	0.11%
	HUN	F	0.11%
	SKYW	C	0.11%
	SKT	A	0.11%
	SANM	B	0.11%
	PBH	A	0.11%
	AX	B	0.11%
	ASO	F	0.11%
	GVA	A	0.11%
	ESGR	B	0.11%
	KFY	B	0.11%
	NUVL	C	0.11%
	HL	D	0.11%
	SIG	B	0.11%
	PLXS	B	0.11%
	PNM	B	0.11%
	BEN	C	0.1%
	WBA	F	0.1%
	MGEE	B	0.1%
	OTTR	C	0.1%
	FULT	A	0.1%
	HCC	B	0.1%
	BNL	D	0.1%
	ABM	B	0.1%
	SEM	B	0.1%
	BGC	C	0.1%
	NHI	D	0.1%
	UCB	A	0.1%
	AUB	B	0.1%
	AEO	F	0.1%
	IAC	F	0.1%
	NWL	C	0.1%
	WD	D	0.1%
	GMS	B	0.1%
	RUSHA	C	0.1%
	HIW	C	0.1%
	DXC	B	0.1%
	GNW	A	0.09%
	WSFS	B	0.09%
	AVA	A	0.09%
	BRC	D	0.09%
	DEI	B	0.09%
	SATS	D	0.09%
	MIR	A	0.09%
	PENN	C	0.09%
	PTEN	C	0.09%
	NPO	A	0.09%
	ADTN	A	0.09%
	ATKR	D	0.09%
	APAM	B	0.09%
	AWR	B	0.09%
	CWK	C	0.09%
	BTU	B	0.09%
	CATY	B	0.09%
	FBP	C	0.09%
	FHB	B	0.09%
	EBC	B	0.09%
	PRIM	A	0.09%
	SXT	C	0.09%
	APLE	B	0.09%
	COMP	B	0.09%
	CBU	B	0.09%
	AROC	A	0.09%
	ESE	B	0.09%
	FIBK	B	0.08%
	AKR	B	0.08%
	CVBF	A	0.08%
	LXP	D	0.08%
	ABR	C	0.08%
	BKU	A	0.08%
	TDS	B	0.08%
	IOSP	C	0.08%
	UE	B	0.08%
	UNF	B	0.08%
	TGNA	B	0.08%
	DBRG	F	0.08%
	REZI	A	0.08%
	PRGS	A	0.08%
	WAFD	B	0.08%
	SFNC	C	0.08%
	MPW	F	0.08%
	ALIT	C	0.08%
	GFF	A	0.08%
	MGRC	B	0.08%
	RNG	C	0.08%
	TRN	B	0.08%
	IOVA	F	0.08%
	BOH	B	0.08%
	ATGE	B	0.08%
	OMCL	C	0.07%
	ENR	B	0.07%
	CDE	C	0.07%
	PFS	B	0.07%
	PECO	A	0.07%
	FFBC	B	0.07%
	HBI	B	0.07%
	CWEN	C	0.07%
	RNA	C	0.07%
	VSCO	C	0.07%
	BOKF	B	0.07%
	SPB	C	0.07%
	SM	B	0.07%
	DY	D	0.07%
	MTX	B	0.07%
	HAYW	B	0.07%
	PPBI	C	0.07%
	ARCB	C	0.07%
	BFH	C	0.07%
	BXMT	C	0.07%
	OUT	A	0.07%
	PRK	B	0.07%
	URBN	C	0.07%
	ARCH	B	0.07%
	INDB	B	0.07%
	HUBG	A	0.07%
	PFSI	C	0.07%
	VIRT	A	0.07%
	NMRK	C	0.06%
	NATL	B	0.06%
	CGON	F	0.06%
	TRMK	C	0.06%
	LRN	A	0.06%
	IMVT	F	0.06%
	RXO	D	0.06%
	PHIN	A	0.06%
	HI	C	0.06%
	KSS	F	0.06%
	KMT	B	0.06%
	BANF	B	0.06%
	MHO	D	0.06%
	NBTB	B	0.06%
	AIR	B	0.06%
	WLY	B	0.06%
	GEO	B	0.06%
	EQC	B	0.06%
	PINC	B	0.06%
	SMMT	D	0.06%
	STRA	C	0.06%
	PSMT	D	0.06%
	SFBS	C	0.06%
	ZG	A	0.06%
	VIAV	C	0.06%
	SHO	D	0.06%
	IBTX	B	0.06%
	HURN	C	0.06%
	FRME	B	0.06%
	RNST	B	0.06%
	ZD	B	0.06%
	EVTC	B	0.06%
	LAUR	A	0.06%
	MTRN	C	0.06%
	CAKE	C	0.06%
	AIN	C	0.06%
	INFA	D	0.06%
	IVT	A	0.06%
	AAP	D	0.06%
	TOWN	B	0.06%
	B	A	0.06%
	OSIS	A	0.06%
	AZZ	A	0.06%
	WERN	C	0.06%
	TTMI	C	0.06%
	JOBY	B	0.06%
	SXI	B	0.06%
	FL	F	0.06%
	BANR	B	0.06%
	HNI	B	0.06%
	SCL	C	0.05%
	SHOO	F	0.05%
	MLKN	F	0.05%
	LZB	B	0.05%
	DDS	B	0.05%
	FCF	B	0.05%
	HEES	C	0.05%
	CHCO	B	0.05%
	CNK	C	0.05%
	APOG	C	0.05%
	LTC	B	0.05%
	PDCO	F	0.05%
	DRH	B	0.05%
	HE	C	0.05%
	NWBI	B	0.05%
	THS	D	0.05%
	NBHC	C	0.05%
	GOLF	B	0.05%
	PZZA	F	0.05%
	KAR	B	0.05%
	EPC	F	0.05%
	OI	C	0.05%
	STEP	C	0.05%
	GBX	A	0.05%
	PRG	C	0.05%
	VSTS	C	0.05%
	WSBC	B	0.05%
	SUPN	C	0.05%
	GNL	F	0.05%
	CRGY	B	0.05%
	LGND	C	0.05%
	VYX	B	0.05%
	MCY	A	0.05%
	OFG	B	0.05%
	ROIC	A	0.05%
	EIG	B	0.04%
	PBI	B	0.04%
	ARI	C	0.04%
	AAT	B	0.04%
	FDP	B	0.04%
	DYN	F	0.04%
	PDM	D	0.04%
	SPNT	B	0.04%
	IART	C	0.04%
	WS	C	0.04%
	DNOW	B	0.04%
	GO	C	0.04%
	VRE	B	0.04%
	BKE	B	0.04%
	NNI	D	0.04%
	LADR	B	0.04%
	RRR	F	0.04%
	WABC	B	0.04%
	CSGS	B	0.04%
	REVG	C	0.04%
	VRNT	C	0.04%
	SBH	C	0.04%
	LCII	C	0.04%
	ALEX	B	0.04%
	NX	C	0.04%
	STBA	B	0.04%
	ESRT	C	0.04%
	HTH	C	0.04%
	CODI	B	0.04%
	BLMN	F	0.04%
	WT	A	0.04%
	REYN	D	0.04%
	HOPE	C	0.04%
	NTCT	C	0.04%
	VCTR	B	0.04%
	TROX	D	0.04%
	UPBD	B	0.04%
	AMN	F	0.04%
	CXW	C	0.04%
	SMR	B	0.04%
	HELE	C	0.04%
	KN	B	0.04%
	VRTS	B	0.04%
	WKC	C	0.04%
	ANDE	D	0.04%
	JBGS	F	0.04%
	NWN	A	0.04%
	ELME	D	0.04%
	BHE	C	0.04%
	HP	C	0.04%
	CENTA	C	0.04%
	LC	A	0.04%
	FTRE	D	0.04%
	HMN	B	0.04%
	NGVT	B	0.04%
	NHC	C	0.04%
	LEG	F	0.04%
	GTY	A	0.04%
	HLIO	B	0.04%
	NPAB	F	0.04%
	CABO	B	0.04%
	AVNS	F	0.03%
	MMI	C	0.03%
	THR	B	0.03%
	FA	C	0.03%
	XRX	F	0.03%
	LGF.A	C	0.03%
	SCSC	C	0.03%
	CWEN	C	0.03%
	BV	C	0.03%
	OMI	F	0.03%
	JACK	C	0.03%
	MYGN	F	0.03%
	BRKL	B	0.03%
	DK	C	0.03%
	DNUT	F	0.03%
	RWT	D	0.03%
	USM	B	0.03%
	ODP	F	0.03%
	MRC	B	0.03%
	DAN	D	0.03%
	CARS	C	0.03%
	WMK	C	0.03%
	SCS	C	0.03%
	KWR	C	0.03%
	INSW	F	0.03%
	ECPG	C	0.03%
	TRS	B	0.03%
	INVA	D	0.03%
	SNDR	B	0.03%
	CBRL	C	0.03%
	MD	C	0.03%
	ACT	C	0.03%
	KFRC	D	0.03%
	FBRT	D	0.03%
	CSR	B	0.03%
	ATSG	B	0.03%
	OXM	F	0.03%
	HTLF	B	0.03%
	VSAT	F	0.03%
	NAVI	F	0.03%
	SAFT	B	0.03%
	RBRK	A	0.03%
	CNNE	B	0.03%
	MSGE	F	0.03%
	KALU	C	0.03%
	AIV	C	0.03%
	JELD	F	0.03%
	UNFI	A	0.03%
	WOR	F	0.03%
	VSTO	A	0.03%
	GIII	D	0.03%
	WWW	A	0.03%
	BHLB	B	0.03%
	PMT	C	0.03%
	BKD	F	0.03%
	UNIT	B	0.03%
	AMRX	C	0.03%
	UVV	B	0.03%
	CMPR	D	0.02%
	SVC	F	0.02%
	ATUS	B	0.02%
	DAWN	D	0.02%
	CVI	F	0.02%
	FOR	F	0.02%
	NAPA	A	0.02%
	CWH	B	0.02%
	BASE	B	0.02%
	HPP	F	0.02%
	PUMP	C	0.02%
	KELYA	F	0.02%
	HY	D	0.02%
	AXL	C	0.02%
	BGS	F	0.02%
	UHAL	D	0.02%
	RGR	F	0.02%
	KOP	C	0.02%
	SWI	C	0.02%
	MODG	F	0.02%
	SEB	F	0.02%
	BMBL	C	0.02%
	MATW	C	0.02%
	KREF	C	0.02%
	PRLB	B	0.02%
	ECVT	C	0.02%
	AMWD	C	0.02%
	ETWO	F	0.02%
	XHR	B	0.02%
	HLF	C	0.02%
	ASTE	C	0.02%
	CFFN	C	0.02%
	PCRX	C	0.02%
	WNC	C	0.02%
	CMTG	F	0.02%
	TMP	B	0.02%
	SAH	C	0.02%
	PRAA	D	0.02%
	FG	A	0.02%
	PRA	C	0.02%
	MNRO	D	0.02%
	HAIN	D	0.02%
	BRSP	C	0.02%
	MATV	D	0.02%
	HCSG	C	0.02%
	LEVI	F	0.02%
	EMBC	C	0.02%
	EYE	C	0.02%
	DLX	B	0.02%
	BDN	C	0.02%
	JBLU	F	0.02%
	OLPX	D	0.01%
	OPK	C	0.01%
	TWKS	B	0.01%
	DIN	C	0.01%
	CENT	C	0.01%
	ALX	D	0.01%
	CMP	C	0.01%
	AMBC	C	0.01%
	KRO	C	0.01%
	TGI	B	0.01%
	VREX	B	0.01%
	SWBI	C	0.01%
	CNDT	C	0.01%
	ZIP	D	0.01%
	TRTX	C	0.01%
	SRCL	B	0.01%
	HTZ	C	0.01%
	CRCT	F	0.01%
	WOOF	D	0.01%
	NVRI	D	0.01%
	INN	D	0.01%
	RUSHB	C	0.01%
	WRLD	C	0.01%
	VMEO	B	0.01%
	RMR	F	0.01%
	EGBN	B	0.01%
	GRC	A	0.01%
	EE	A	0.01%
	NABL	F	0.01%
	SSTK	F	0.01%
	PTVE	B	0.01%
	BJRI	C	0.01%
	FWRD	D	0.01%
	USNA	C	0.01%
	CCO	C	0.01%
	CLB	B	0.01%
	CLBK	C	0.01%
	HTLD	C	0.01%
	ARRY	F	0.01%
	BFS	C	0.01%
	SCHL	F	0.01%
	DJT	C	0.01%
	TILE	B	0.01%
	GCMG	B	0.01%
	MXL	C	0.01%
	LGF.A	C	0.01%
	CAL	F	0.01%
	GES	F	0.01%
	SCWX	C	0.0%
	AC	B	0.0%
	AMCX	C	0.0%
	ACDC	B	0.0%
	TASK	C	0.0%
	LESL	D	0.0%
	LDI	C	0.0%
	NUS	D	0.0%
	BRCC	F	0.0%

VBR Underweight 153 Positions Relative to IJH

	Symbol	Grade	Weight
	TPL	A	-0.85%
	ILMN	C	-0.72%
	EXE	A	-0.66%
	LII	A	-0.65%
	IBKR	A	-0.65%
	WSO	A	-0.6%
	BURL	B	-0.57%
	MANH	D	-0.56%
	DOCU	B	-0.54%
	FIX	A	-0.53%
	DT	D	-0.52%
	PSTG	D	-0.5%
	CASY	A	-0.5%
	GGG	B	-0.5%
	AVTR	F	-0.47%
	CW	C	-0.46%
	SAIA	B	-0.46%
	TXRH	B	-0.44%
	ELS	C	-0.44%
	CLH	C	-0.42%
	WPC	C	-0.41%
	BMRN	F	-0.4%
	LECO	C	-0.39%
	AMH	C	-0.39%
	NBIX	C	-0.39%
	DUOL	A	-0.38%
	BWXT	B	-0.38%
	FND	D	-0.37%
	CUBE	C	-0.36%
	BLD	D	-0.35%
	WWD	C	-0.34%
	EXP	B	-0.34%
	CHDN	B	-0.34%
	KNSL	B	-0.34%
	HLI	A	-0.33%
	EXEL	B	-0.33%
	NLY	C	-0.33%
	SRPT	F	-0.33%
	CNH	C	-0.32%
	CIEN	C	-0.32%
	GMED	A	-0.31%
	REXR	F	-0.31%
	RGLD	C	-0.31%
	PEN	B	-0.31%
	WMS	F	-0.31%
	WING	D	-0.31%
	BRBR	A	-0.31%
	TPX	B	-0.31%
	AAON	B	-0.3%
	RBC	A	-0.3%
	MORN	B	-0.3%
	PCTY	C	-0.29%
	HQY	A	-0.29%
	LNW	F	-0.28%
	CHE	D	-0.28%
	TTC	C	-0.28%
	FN	C	-0.28%
	SKX	D	-0.27%
	PLNT	A	-0.27%
	ENSG	C	-0.27%
	CNM	D	-0.27%
	HLNE	B	-0.26%
	ONTO	F	-0.26%
	MEDP	D	-0.26%
	TKO	A	-0.26%
	CVLT	B	-0.25%
	TREX	C	-0.25%
	SSD	F	-0.25%
	WH	B	-0.25%
	MTSI	B	-0.24%
	MASI	B	-0.24%
	COKE	C	-0.24%
	ALV	C	-0.24%
	EXLS	B	-0.24%
	OLED	F	-0.24%
	RYAN	A	-0.24%
	WEX	D	-0.24%
	LSCC	D	-0.23%
	CGNX	D	-0.23%
	ELF	C	-0.23%
	DAR	C	-0.23%
	H	B	-0.23%
	GNTX	C	-0.23%
	GTLS	A	-0.23%
	GXO	B	-0.23%
	LSTR	D	-0.22%
	RGEN	D	-0.22%
	AZPN	A	-0.22%
	MTN	C	-0.22%
	MTDR	B	-0.22%
	ALTR	B	-0.21%
	DOCS	C	-0.21%
	NOV	C	-0.21%
	HR	B	-0.21%
	DBX	B	-0.21%
	KRG	B	-0.2%
	CYTK	F	-0.2%
	LFUS	D	-0.2%
	WFRD	D	-0.2%
	NOVT	D	-0.2%
	ALTM	B	-0.19%
	OLLI	D	-0.19%
	BRKR	D	-0.19%
	HALO	F	-0.19%
	CROX	D	-0.19%
	CHX	C	-0.19%
	NXT	C	-0.18%
	APPF	B	-0.18%
	LNTH	D	-0.18%
	QLYS	B	-0.18%
	RMBS	B	-0.18%
	LITE	B	-0.18%
	VNOM	A	-0.17%
	WMG	D	-0.16%
	IRT	A	-0.16%
	RH	C	-0.16%
	MMS	F	-0.16%
	FIVE	F	-0.16%
	HXL	F	-0.16%
	ROIV	C	-0.16%
	EXPO	D	-0.16%
	CHWY	B	-0.15%
	HAE	C	-0.15%
	CIVI	D	-0.15%
	LOPE	C	-0.15%
	FCFS	F	-0.14%
	TXNM	A	-0.14%
	NEU	D	-0.14%
	ORA	B	-0.14%
	DLB	B	-0.14%
	EEFT	B	-0.14%
	CELH	F	-0.13%
	LANC	C	-0.12%
	OPCH	D	-0.12%
	FLG	D	-0.11%
	YETI	D	-0.11%
	VAL	F	-0.11%
	SLAB	F	-0.11%
	CHH	A	-0.11%
	IRDM	D	-0.11%
	POWI	F	-0.11%
	NEOG	F	-0.1%
	ZI	D	-0.1%
	ALGM	D	-0.1%
	NSA	C	-0.1%
	HGV	C	-0.09%
	SAM	C	-0.09%
	LIVN	F	-0.09%
	ARWR	D	-0.08%
	SHC	F	-0.07%
	RCM	A	-0.07%
	MAGN	D	-0.01%
	FNF	B	-0.0%

VBR: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials REIT - Diversified Asset Management REIT - Retail Specialty Chemicals Information Technology Services Apparel Manufacturing REIT - Office Software - Application Biotechnology Specialty Retail Building Materials Oil & Gas E&P Packaging & Containers Packaged Foods Rental & Leasing Services Auto & Truck Dealerships Business Services Engineering & Construction

Keywords: Bank Banking Real Estate Investment Trust S&P 500 Deposit Products Chemical Insurance Mining Natural Gas Real Estate Loans Aerospace Commercial Banking Transport Clothing Telecommunications Construction Electronics Commercial Bank Computing Mortgage Loan

IJH: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Software - Application Biotechnology Oil & Gas E&P Business Services Specialty Chemicals Asset Management Packaging & Containers Semiconductors Specialty Retail Building Materials Diagnostics & Research Engineering & Construction REIT - Diversified Apparel Manufacturing Medical Care Packaged Foods REIT - Industrial Scientific & Technical Instruments

Keywords: Bank Banking Mining Chemical Natural Gas Real Estate Investment Trust Insurance Electronics Aerospace Semiconductor Supply Chain Management Computing Beverage Construction Deposit Products Telecommunications Biotechnology Commercial Banking Insurance Products Building Materials