VBR vs. JHMM ETF Comparison

Comparison of Vanguard Small-Cap Value ETF - DNQ (VBR) to John Hancock Multifactor Mid Cap ETF (JHMM)

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

JHMM

John Hancock Multifactor Mid Cap ETF

JHMM Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the John Hancock Dimensional Mid Cap Index. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities that compose the fund&#39;s benchmark index. The index is designed to comprise a subset of securities in the U.S. Universe issued by companies whose market capitalizations are between the 200th and 951st largest U.S. Company at the time of reconstitution.

Grade (RS Rating)

Last Trade

$64.08

Average Daily Volume

180,113

Number of Holdings ^*

639

* may have additional holdings in another (foreign) market

Performance

Period	VBR	JHMM
30 Days	5.18%	4.90%
60 Days	6.13%	6.55%
90 Days	7.24%	8.03%
12 Months	32.19%	32.38%

241 Overlapping Holdings

Symbol	Grade	Weight in VBR	Weight in JHMM	Overlap
AA	A	0.3%	0.05%	0.05%
AAL	B	0.26%	0.03%	0.03%
ACHC	F	0.11%	0.07%	0.07%
ACI	C	0.17%	0.09%	0.09%
ACM	B	0.42%	0.22%	0.22%
ADC	A	0.22%	0.07%	0.07%
ADTN	A	0.09%	0.06%	0.06%
AES	F	0.34%	0.12%	0.12%
AFG	A	0.28%	0.18%	0.18%
AGCO	D	0.19%	0.13%	0.13%
AIT	B	0.26%	0.15%	0.15%
AIZ	A	0.29%	0.19%	0.19%
ALB	B	0.16%	0.08%	0.08%
ALLE	C	0.36%	0.2%	0.2%
ALLY	C	0.28%	0.24%	0.24%
ALSN	B	0.27%	0.17%	0.17%
AM	A	0.14%	0.05%	0.05%
AMKR	D	0.08%	0.07%	0.07%
AN	C	0.15%	0.16%	0.15%
ANF	F	0.2%	0.09%	0.09%
APA	D	0.26%	0.09%	0.09%
APG	B	0.25%	0.11%	0.11%
AR	B	0.11%	0.12%	0.11%
ARMK	B	0.29%	0.17%	0.17%
ARW	D	0.18%	0.15%	0.15%
ATO	A	0.58%	0.19%	0.19%
ATR	B	0.33%	0.18%	0.18%
AUR	C	0.14%	0.03%	0.03%
AXS	A	0.17%	0.04%	0.04%
AXTA	B	0.24%	0.14%	0.14%
AYI	B	0.27%	0.17%	0.17%
BAH	F	0.69%	0.24%	0.24%
BBWI	C	0.18%	0.08%	0.08%
BECN	B	0.17%	0.02%	0.02%
BEN	C	0.1%	0.08%	0.08%
BERY	C	0.22%	0.18%	0.18%
BG	D	0.35%	0.19%	0.19%
BIO	C	0.2%	0.11%	0.11%
BJ	A	0.33%	0.19%	0.19%
BLDR	D	0.58%	0.34%	0.34%
BOKF	B	0.07%	0.05%	0.05%
BPOP	C	0.19%	0.11%	0.11%
BRX	A	0.24%	0.09%	0.09%
BWA	D	0.22%	0.15%	0.15%
BXP	C	0.33%	0.11%	0.11%
CACI	D	0.36%	0.18%	0.18%
CBSH	B	0.21%	0.14%	0.14%
CCK	D	0.33%	0.17%	0.17%
CFR	B	0.21%	0.12%	0.12%
CG	B	0.34%	0.11%	0.11%
CHRD	D	0.23%	0.08%	0.08%
CHRW	B	0.34%	0.18%	0.18%
CLF	F	0.18%	0.12%	0.12%
CMA	B	0.25%	0.17%	0.17%
CMC	B	0.18%	0.12%	0.12%
COHR	B	0.21%	0.24%	0.21%
COTY	F	0.08%	0.04%	0.04%
CPT	B	0.36%	0.13%	0.13%
CR	A	0.22%	0.11%	0.11%
CRUS	D	0.17%	0.05%	0.05%
CSL	C	0.57%	0.27%	0.27%
DCI	B	0.26%	0.16%	0.16%
DDS	B	0.05%	0.03%	0.03%
DINO	D	0.18%	0.1%	0.1%
DKS	D	0.23%	0.17%	0.17%
DOC	C	0.23%	0.1%	0.1%
DTM	A	0.26%	0.1%	0.1%
DVA	C	0.17%	0.15%	0.15%
EDR	A	0.12%	0.06%	0.06%
EGP	D	0.24%	0.08%	0.08%
EHC	B	0.29%	0.2%	0.2%
ELAN	D	0.18%	0.11%	0.11%
EME	A	0.61%	0.3%	0.3%
EMN	C	0.36%	0.19%	0.19%
EPAM	B	0.3%	0.14%	0.14%
EQH	C	0.42%	0.31%	0.31%
ESAB	C	0.21%	0.09%	0.09%
ESI	B	0.17%	0.05%	0.05%
ESNT	F	0.18%	0.08%	0.08%
EVR	B	0.28%	0.11%	0.11%
EVRG	A	0.19%	0.25%	0.19%
EWBC	A	0.39%	0.26%	0.26%
FAF	A	0.18%	0.12%	0.12%
FBIN	D	0.3%	0.18%	0.18%
FCN	F	0.2%	0.09%	0.09%
FCNCA	A	0.61%	0.33%	0.33%
FFIV	B	0.4%	0.27%	0.27%
FHN	A	0.27%	0.13%	0.13%
FLR	B	0.26%	0.08%	0.08%
FLS	B	0.2%	0.08%	0.08%
FMC	D	0.24%	0.08%	0.08%
FR	D	0.2%	0.07%	0.07%
FRT	B	0.27%	0.09%	0.09%
FYBR	C	0.26%	0.15%	0.15%
G	B	0.2%	0.13%	0.13%
GAP	C	0.15%	0.07%	0.07%
GL	C	0.28%	0.17%	0.17%
GLPI	C	0.38%	0.13%	0.13%
GME	C	0.25%	0.05%	0.05%
GPK	C	0.25%	0.14%	0.14%
HAS	D	0.25%	0.14%	0.14%
HII	F	0.21%	0.12%	0.12%
HRB	D	0.24%	0.11%	0.11%
HSIC	C	0.26%	0.17%	0.17%
HUBB	B	0.33%	0.3%	0.3%
IEX	C	0.47%	0.17%	0.17%
INFA	D	0.06%	0.02%	0.02%
INGR	C	0.25%	0.19%	0.19%
IPG	D	0.32%	0.21%	0.21%
ITT	A	0.33%	0.2%	0.2%
IVZ	B	0.22%	0.12%	0.12%
JAZZ	B	0.19%	0.14%	0.14%
JBL	C	0.39%	0.24%	0.24%
JEF	A	0.27%	0.22%	0.22%
JLL	D	0.38%	0.22%	0.22%
JNPR	D	0.37%	0.23%	0.23%
JXN	C	0.22%	0.09%	0.09%
KBR	F	0.26%	0.11%	0.11%
KEX	B	0.19%	0.01%	0.01%
KIM	A	0.47%	0.15%	0.15%
KMX	B	0.33%	0.17%	0.17%
KNX	C	0.23%	0.15%	0.15%
LAD	A	0.26%	0.19%	0.19%
LAMR	C	0.17%	0.13%	0.13%
LDOS	C	0.36%	0.22%	0.22%
LEA	F	0.16%	0.11%	0.11%
LEVI	F	0.02%	0.02%	0.02%
LKQ	F	0.28%	0.15%	0.15%
LPX	B	0.18%	0.07%	0.07%
MAT	D	0.2%	0.11%	0.11%
MHK	D	0.21%	0.11%	0.11%
MIDD	C	0.2%	0.12%	0.12%
MKSI	C	0.2%	0.14%	0.14%
MLI	B	0.27%	0.1%	0.1%
MOG.A	B	0.16%	0.04%	0.04%
MOS	F	0.25%	0.12%	0.12%
MSA	F	0.18%	0.08%	0.08%
MTG	C	0.19%	0.05%	0.05%
MTZ	B	0.11%	0.12%	0.11%
MUR	D	0.13%	0.08%	0.08%
MUSA	B	0.26%	0.14%	0.14%
NCLH	B	0.16%	0.17%	0.16%
NI	A	0.23%	0.28%	0.23%
NNN	C	0.23%	0.08%	0.08%
NPAB	F	0.04%	0.01%	0.01%
NRG	B	0.55%	0.22%	0.22%
NSIT	F	0.17%	0.08%	0.08%
NVT	B	0.36%	0.17%	0.17%
NXST	C	0.16%	0.14%	0.14%
NYT	D	0.25%	0.13%	0.13%
OC	A	0.45%	0.39%	0.39%
OGE	A	0.23%	0.15%	0.15%
OHI	C	0.32%	0.1%	0.1%
OMF	A	0.17%	0.05%	0.05%
ONB	C	0.18%	0.05%	0.05%
ORI	A	0.24%	0.17%	0.17%
OSK	C	0.19%	0.14%	0.14%
OVV	B	0.3%	0.18%	0.18%
PAG	B	0.09%	0.07%	0.07%
PARA	C	0.17%	0.05%	0.05%
PB	B	0.19%	0.1%	0.1%
PFGC	B	0.37%	0.21%	0.21%
PNFP	B	0.11%	0.13%	0.11%
PNR	A	0.48%	0.25%	0.25%
PNW	A	0.29%	0.2%	0.2%
POST	C	0.07%	0.12%	0.07%
PPC	C	0.05%	0.04%	0.04%
PR	B	0.13%	0.1%	0.1%
PRI	B	0.27%	0.16%	0.16%
PSN	D	0.15%	0.05%	0.05%
PVH	C	0.16%	0.07%	0.07%
QRVO	F	0.2%	0.12%	0.12%
R	B	0.18%	0.08%	0.08%
RBRK	A	0.03%	0.01%	0.01%
REG	A	0.38%	0.13%	0.13%
REYN	D	0.04%	0.02%	0.02%
RGA	A	0.41%	0.24%	0.24%
RHI	C	0.2%	0.15%	0.15%
RL	C	0.22%	0.14%	0.14%
RLI	A	0.2%	0.1%	0.1%
RNR	C	0.4%	0.22%	0.22%
RPM	A	0.48%	0.19%	0.19%
RRC	B	0.2%	0.12%	0.12%
RRX	B	0.32%	0.16%	0.16%
RS	B	0.46%	0.24%	0.24%
SAIC	F	0.22%	0.12%	0.12%
SCI	B	0.33%	0.29%	0.29%
SEIC	B	0.26%	0.16%	0.16%
SF	B	0.29%	0.2%	0.2%
SFM	A	0.38%	0.15%	0.15%
SIGI	C	0.16%	0.06%	0.06%
SIRI	C	0.17%	0.01%	0.01%
SJM	D	0.34%	0.14%	0.14%
SMMT	D	0.06%	0.01%	0.01%
SNV	C	0.2%	0.04%	0.04%
SNX	D	0.22%	0.09%	0.09%
SOLV	D	0.29%	0.08%	0.08%
SON	F	0.15%	0.11%	0.11%
SSB	B	0.22%	0.1%	0.1%
ST	F	0.15%	0.12%	0.12%
STAG	D	0.2%	0.07%	0.07%
STEP	C	0.05%	0.01%	0.01%
STLD	B	0.28%	0.31%	0.28%
SUM	B	0.17%	0.05%	0.05%
SW	A	0.78%	0.13%	0.13%
TAP	C	0.28%	0.15%	0.15%
TFX	F	0.28%	0.13%	0.13%
THC	D	0.43%	0.23%	0.23%
THO	B	0.15%	0.06%	0.06%
TKR	D	0.15%	0.08%	0.08%
TMHC	C	0.2%	0.1%	0.1%
TOL	B	0.44%	0.31%	0.31%
TPR	B	0.32%	0.26%	0.26%
TTEK	F	0.38%	0.13%	0.13%
UFPI	C	0.21%	0.13%	0.13%
UHAL	D	0.02%	0.01%	0.01%
UHAL	D	0.02%	0.11%	0.02%
UHAL	D	0.19%	0.11%	0.11%
UHAL	D	0.19%	0.01%	0.01%
UHS	D	0.34%	0.22%	0.22%
UNM	A	0.28%	0.21%	0.21%
USFD	A	0.44%	0.27%	0.27%
UTHR	C	0.49%	0.3%	0.3%
VFC	C	0.24%	0.05%	0.05%
VNO	C	0.22%	0.04%	0.04%
VOYA	B	0.23%	0.13%	0.13%
WAL	B	0.25%	0.18%	0.18%
WBS	A	0.26%	0.16%	0.16%
WCC	B	0.28%	0.21%	0.21%
WHR	B	0.17%	0.11%	0.11%
WLK	D	0.07%	0.06%	0.06%
WSM	C	0.39%	0.25%	0.25%
WTFC	A	0.23%	0.13%	0.13%
WTRG	B	0.28%	0.11%	0.11%
WTS	B	0.15%	0.07%	0.07%
X	B	0.23%	0.15%	0.15%
XPO	B	0.21%	0.21%	0.21%
Z	A	0.27%	0.13%	0.13%
ZG	A	0.06%	0.02%	0.02%
ZION	B	0.22%	0.17%	0.17%
ZWS	B	0.14%	0.04%	0.04%

VBR Overweight 555 Positions Relative to JHMM

Symbol	Grade	Weight
AGNC	C	0.21%
LUMN	C	0.19%
MTH	D	0.19%
ALK	B	0.18%
CADE	B	0.18%
STWD	C	0.18%
VMI	B	0.18%
VNT	C	0.17%
SRCL	B	0.17%
CBT	D	0.17%
GBCI	B	0.17%
LNC	C	0.17%
COLB	B	0.17%
COOP	B	0.16%
AMG	B	0.16%
KNF	B	0.16%
IDA	A	0.16%
NFG	A	0.16%
TPG	A	0.16%
MDU	D	0.16%
KBH	D	0.15%
UBSI	B	0.15%
UGI	C	0.15%
BCC	B	0.15%
VVV	D	0.15%
MATX	C	0.15%
FNB	A	0.15%
RDN	D	0.15%
JHG	B	0.15%
BC	C	0.15%
KD	B	0.15%
GPI	B	0.14%
BDC	C	0.14%
RYN	D	0.14%
CUZ	B	0.14%
XRAY	F	0.14%
OZK	B	0.14%
KRC	B	0.14%
KTB	B	0.14%
PIPR	A	0.14%
AVT	C	0.14%
MDGL	B	0.14%
SLM	A	0.14%
THG	A	0.14%
OLN	F	0.14%
OGN	F	0.14%
POR	C	0.14%
CNX	A	0.14%
SLG	B	0.14%
HOMB	A	0.14%
GATX	A	0.14%
RIVN	F	0.13%
BCO	F	0.13%
WTM	A	0.13%
EAT	A	0.13%
FFIN	B	0.13%
LYFT	C	0.13%
AL	B	0.13%
SWX	B	0.13%
HWC	B	0.13%
SBRA	C	0.13%
UMBF	B	0.13%
NJR	A	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%
M	F	0.12%
OGS	A	0.12%
MAC	B	0.12%
ABCB	B	0.12%
HASI	D	0.12%
VLY	B	0.12%
BKH	A	0.12%
SLGN	A	0.12%
ITGR	B	0.12%
AGO	B	0.12%
CRC	A	0.12%
MGM	D	0.12%
FLO	D	0.12%
SEE	C	0.12%
AVNT	B	0.12%
TPH	D	0.11%
NVST	B	0.11%
HUN	F	0.11%
SKYW	C	0.11%
CDP	C	0.11%
SKT	A	0.11%
WU	F	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%
ALE	A	0.11%
PII	F	0.11%
SMG	C	0.11%
NUVL	C	0.11%
HOG	D	0.11%
KMPR	A	0.11%
HL	D	0.11%
SIG	B	0.11%
ENS	F	0.11%
ASGN	F	0.11%
ASH	F	0.11%
PLXS	B	0.11%
PNM	B	0.11%
WBA	F	0.1%
MGEE	B	0.1%
NWE	B	0.1%
PCH	F	0.1%
OTTR	C	0.1%
TEX	F	0.1%
FULT	A	0.1%
WEN	D	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%
ASB	B	0.1%
IBOC	B	0.1%
EPR	C	0.1%
CNO	B	0.1%
AEO	F	0.1%
IAC	F	0.1%
NWL	C	0.1%
PRGO	C	0.1%
SR	A	0.1%
WD	D	0.1%
GMS	B	0.1%
RUSHA	C	0.1%
MSM	C	0.1%
HIW	C	0.1%
TCBI	C	0.1%
DXC	B	0.1%
GNW	A	0.09%
WSFS	B	0.09%
AVA	A	0.09%
JWN	D	0.09%
BRC	D	0.09%
DEI	B	0.09%
MAN	F	0.09%
SATS	D	0.09%
MIR	A	0.09%
PENN	C	0.09%
PTEN	C	0.09%
NPO	A	0.09%
ATKR	D	0.09%
APAM	B	0.09%
AWR	B	0.09%
TDC	D	0.09%
AMED	F	0.09%
CWK	C	0.09%
BTU	B	0.09%
CATY	B	0.09%
FBP	C	0.09%
FHB	B	0.09%
TNL	A	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%
FHI	B	0.09%
ESE	B	0.09%
FIBK	B	0.08%
AKR	B	0.08%
CVBF	A	0.08%
CXT	C	0.08%
LXP	D	0.08%
ABR	C	0.08%
BKU	A	0.08%
NSP	F	0.08%
PBF	D	0.08%
TDS	B	0.08%
IOSP	C	0.08%
UE	B	0.08%
UNF	B	0.08%
CC	C	0.08%
TGNA	B	0.08%
SYNA	C	0.08%
DBRG	F	0.08%
REZI	A	0.08%
PRGS	A	0.08%
GHC	B	0.08%
PK	C	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%
BHF	C	0.08%
ATGE	B	0.08%
BYD	B	0.07%
OMCL	C	0.07%
GT	C	0.07%
ENR	B	0.07%
ENOV	C	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%
CNXC	F	0.07%
VSCO	C	0.07%
SPB	C	0.07%
SM	B	0.07%
DY	D	0.07%
MTX	B	0.07%
VAC	C	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%
AZTA	D	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%
BLKB	B	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%
STRA	C	0.06%
PSMT	D	0.06%
SFBS	C	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%
VSH	F	0.06%
CAKE	C	0.06%
AIN	C	0.06%
IVT	A	0.06%
AAP	D	0.06%
TOWN	B	0.06%
B	A	0.06%
OSIS	A	0.06%
IPGP	D	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%
CPRI	F	0.06%
SCL	C	0.05%
SHOO	F	0.05%
MLKN	F	0.05%
LZB	B	0.05%
FCF	B	0.05%
UAA	C	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%
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%
CRI	F	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%
VC	F	0.04%
WS	C	0.04%
DNOW	B	0.04%
GO	C	0.04%
VRE	B	0.04%
BKE	B	0.04%
COLM	C	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%
CAR	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%
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%
GEF	A	0.04%
LEG	F	0.04%
GTY	A	0.04%
HLIO	B	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%
UA	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%
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%
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%
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%
GEF	A	0.0%
NUS	D	0.0%
BRCC	F	0.0%

VBR Underweight 400 Positions Relative to JHMM

Symbol	Grade	Weight
URI	C	-0.66%
AMP	A	-0.57%
VST	A	-0.54%
FICO	B	-0.48%
TRGP	A	-0.46%
AME	A	-0.44%
FAST	B	-0.43%
HWM	A	-0.43%
HIG	B	-0.43%
SYF	B	-0.43%
FLEX	B	-0.42%
PWR	A	-0.42%
IT	C	-0.4%
PHM	D	-0.4%
ETR	B	-0.39%
RCL	A	-0.37%
CBRE	B	-0.37%
FITB	B	-0.36%
WAB	B	-0.36%
NVR	D	-0.36%
MTB	A	-0.36%
TSCO	D	-0.35%
DOV	A	-0.35%
EIX	B	-0.35%
VRSK	A	-0.35%
LNG	A	-0.35%
APP	B	-0.35%
FANG	C	-0.34%
COR	B	-0.33%
TPL	A	-0.33%
ACGL	C	-0.33%
VRT	B	-0.32%
ROK	C	-0.32%
WTW	B	-0.32%
HPE	B	-0.32%
RMD	C	-0.32%
RJF	A	-0.32%
EBAY	D	-0.31%
DECK	A	-0.31%
LH	B	-0.31%
ANSS	B	-0.31%
KEYS	A	-0.31%
IR	B	-0.31%
GLW	B	-0.31%
DFS	B	-0.31%
TTWO	A	-0.31%
DGX	A	-0.3%
LPLA	A	-0.29%
NDAQ	A	-0.29%
NTAP	C	-0.29%
MLM	C	-0.29%
RF	A	-0.29%
IRM	C	-0.29%
BR	A	-0.29%
BKR	A	-0.29%
GRMN	B	-0.29%
EXR	C	-0.28%
CAH	B	-0.28%
STT	B	-0.28%
SNA	A	-0.27%
CDW	F	-0.27%
AXON	A	-0.27%
ZBRA	B	-0.27%
MPWR	F	-0.26%
GDDY	A	-0.26%
CASY	A	-0.26%
HBAN	A	-0.26%
EFX	F	-0.26%
FSLR	F	-0.26%
IP	A	-0.26%
OMC	C	-0.26%
CPAY	A	-0.26%
KR	B	-0.26%
TYL	B	-0.26%
VTRS	A	-0.26%
HOLX	D	-0.25%
MTD	F	-0.25%
PCG	A	-0.25%
CNP	A	-0.25%
ZBH	C	-0.25%
BBY	D	-0.25%
TRMB	B	-0.25%
WDC	D	-0.25%
PFG	D	-0.25%
VMC	B	-0.25%
PTC	B	-0.24%
GEN	B	-0.24%
WST	C	-0.24%
LII	A	-0.24%
DRI	B	-0.23%
WEC	A	-0.23%
TDY	B	-0.23%
PKG	A	-0.23%
CFG	B	-0.23%
STE	D	-0.23%
AEE	A	-0.23%
BRO	B	-0.23%
MKL	A	-0.22%
FDS	B	-0.22%
MRO	B	-0.22%
TER	F	-0.22%
CHD	A	-0.22%
GWRE	A	-0.22%
HUBS	A	-0.22%
MOH	F	-0.22%
XYL	D	-0.22%
EXPD	C	-0.22%
IBKR	A	-0.21%
CLH	C	-0.21%
MANH	D	-0.21%
CINF	A	-0.21%
ULTA	F	-0.21%
CIEN	C	-0.21%
WAT	C	-0.21%
BURL	B	-0.21%
TROW	B	-0.21%
SSNC	B	-0.21%
DTE	C	-0.21%
DOX	D	-0.21%
FTV	C	-0.2%
AKAM	D	-0.2%
GGG	B	-0.2%
ALNY	D	-0.2%
PPL	A	-0.2%
EXPE	B	-0.2%
FE	C	-0.2%
NTRS	A	-0.2%
CTRA	B	-0.2%
PODD	C	-0.19%
FOXA	A	-0.19%
GPC	D	-0.19%
EXEL	B	-0.19%
AVY	F	-0.19%
LNT	A	-0.19%
L	A	-0.19%
TWLO	A	-0.19%
CMS	C	-0.19%
BLD	D	-0.19%
KEY	B	-0.19%
WRB	A	-0.19%
HOOD	B	-0.18%
TXT	D	-0.18%
SWKS	F	-0.18%
ARES	A	-0.18%
RVTY	F	-0.18%
CLX	A	-0.18%
TXRH	B	-0.18%
DOCU	B	-0.18%
STX	C	-0.18%
JBHT	C	-0.18%
CMI	A	-0.18%
SAIA	B	-0.18%
BALL	F	-0.18%
HAL	C	-0.18%
CRL	D	-0.18%
FNF	B	-0.18%
AWK	C	-0.18%
K	A	-0.18%
ZM	C	-0.17%
MAS	D	-0.17%
CVNA	B	-0.17%
CCL	A	-0.17%
CF	A	-0.17%
EQT	B	-0.17%
JKHY	D	-0.17%
WSO	A	-0.17%
ES	C	-0.17%
VICI	C	-0.17%
ENTG	D	-0.17%
NDSN	B	-0.17%
FIX	A	-0.17%
CW	C	-0.17%
LYB	F	-0.17%
DAY	B	-0.16%
SWK	D	-0.16%
WY	F	-0.16%
VTR	B	-0.16%
NWSA	A	-0.16%
ALV	C	-0.16%
DLTR	F	-0.16%
PSTG	D	-0.16%
NBIX	C	-0.16%
TSN	B	-0.16%
POOL	C	-0.16%
LECO	C	-0.16%
EG	C	-0.16%
AMCR	C	-0.15%
UAL	A	-0.15%
EQR	C	-0.15%
GNRC	C	-0.15%
WWD	C	-0.15%
TRU	D	-0.15%
CBOE	C	-0.15%
TECH	F	-0.15%
GLOB	B	-0.15%
DPZ	C	-0.15%
IFF	D	-0.15%
AVTR	F	-0.15%
AVB	B	-0.15%
VLTO	C	-0.14%
WH	B	-0.14%
FND	D	-0.14%
DAL	B	-0.14%
KNSL	B	-0.14%
GMED	A	-0.14%
AOS	F	-0.14%
BWXT	B	-0.14%
CTLT	C	-0.14%
GPN	B	-0.14%
LW	C	-0.14%
UDR	B	-0.14%
VRSN	C	-0.14%
MKC	C	-0.14%
MKTX	D	-0.13%
OLED	F	-0.13%
EXP	B	-0.13%
CHDN	B	-0.13%
TTC	C	-0.13%
CPB	D	-0.13%
NTRA	A	-0.13%
LYV	A	-0.13%
INCY	C	-0.13%
SKX	D	-0.13%
WMS	F	-0.13%
CHE	D	-0.13%
BMRN	F	-0.12%
WEX	D	-0.12%
ENSG	C	-0.12%
LBRDK	C	-0.12%
LNW	F	-0.12%
CAG	F	-0.12%
TPX	B	-0.12%
HST	C	-0.12%
MORN	B	-0.12%
ESS	B	-0.12%
AMH	C	-0.12%
TOST	B	-0.12%
ELS	C	-0.12%
J	D	-0.12%
DD	C	-0.12%
HLI	A	-0.12%
GNTX	C	-0.12%
PPG	F	-0.12%
INVH	D	-0.12%
LFUS	D	-0.12%
DBX	B	-0.11%
MTN	C	-0.11%
MEDP	D	-0.11%
LSTR	D	-0.11%
HEI	A	-0.11%
TREX	C	-0.11%
PCTY	C	-0.11%
FTI	A	-0.11%
WSC	F	-0.11%
SOFI	B	-0.11%
DT	D	-0.11%
CUBE	C	-0.11%
SBAC	D	-0.11%
ARE	F	-0.11%
GXO	B	-0.11%
BAX	F	-0.11%
MASI	B	-0.11%
ROL	B	-0.11%
MAA	B	-0.11%
DAR	C	-0.11%
NET	B	-0.11%
ERIE	D	-0.11%
RGLD	C	-0.11%
PAYC	B	-0.11%
NTNX	B	-0.1%
WYNN	C	-0.1%
WPC	C	-0.1%
BRKR	D	-0.1%
ONTO	F	-0.1%
CE	F	-0.1%
PINS	F	-0.1%
CROX	D	-0.1%
MTDR	B	-0.1%
CGNX	D	-0.1%
RBLX	C	-0.1%
SSD	F	-0.1%
HPQ	B	-0.1%
HQY	A	-0.1%
ALGN	D	-0.1%
CNM	D	-0.1%
MDB	B	-0.09%
WBD	B	-0.09%
LSCC	D	-0.09%
PLNT	A	-0.09%
DUOL	A	-0.09%
COKE	C	-0.09%
HEI	A	-0.09%
ZS	B	-0.09%
ROKU	D	-0.09%
TW	A	-0.09%
AFRM	A	-0.09%
BRBR	A	-0.09%
REXR	F	-0.09%
FOX	A	-0.09%
BILL	A	-0.09%
HALO	F	-0.09%
CNH	C	-0.09%
VEEV	C	-0.09%
SUI	C	-0.09%
EXAS	D	-0.09%
DKNG	B	-0.09%
FN	C	-0.09%
RBC	A	-0.09%
AAON	B	-0.09%
RGEN	D	-0.09%
H	B	-0.08%
NOV	C	-0.08%
MTCH	D	-0.08%
WING	D	-0.08%
ICLR	D	-0.08%
SPSC	D	-0.08%
OKTA	C	-0.08%
PEN	B	-0.08%
SITE	F	-0.08%
SRPT	F	-0.08%
NOVT	D	-0.08%
CRBG	B	-0.08%
DLB	B	-0.08%
BSY	F	-0.08%
MTSI	B	-0.08%
CIVI	D	-0.07%
NWS	A	-0.07%
ENPH	F	-0.07%
PCVX	D	-0.07%
ILMN	C	-0.07%
ATI	C	-0.07%
HLNE	B	-0.07%
RPRX	D	-0.07%
WFRD	D	-0.07%
CHX	C	-0.06%
BFAM	D	-0.06%
ESTC	C	-0.06%
COLD	D	-0.06%
FOUR	A	-0.06%
EXLS	B	-0.06%
ITCI	C	-0.06%
CHH	A	-0.06%
TKO	A	-0.06%
ELF	C	-0.06%
HRL	D	-0.06%
SMAR	B	-0.06%
S	B	-0.06%
SMCI	F	-0.05%
RVMD	C	-0.05%
RHP	B	-0.05%
CVLT	B	-0.05%
TRNO	F	-0.05%
AZEK	A	-0.05%
IBP	D	-0.05%
APPF	B	-0.05%
SNAP	D	-0.05%
BMI	B	-0.05%
GTLB	B	-0.05%
SN	D	-0.05%
PCOR	B	-0.05%
ETSY	D	-0.05%
ALTR	B	-0.05%
ENLC	A	-0.04%
CSGP	D	-0.04%
CYTK	F	-0.04%
HCP	B	-0.04%
CFLT	B	-0.04%
DOCS	C	-0.04%
LUV	C	-0.04%
CACC	D	-0.04%
U	C	-0.04%
IOT	A	-0.04%
PATH	C	-0.04%
CRS	B	-0.04%
MOD	A	-0.04%
LNTH	D	-0.04%
INSM	C	-0.04%
CELH	F	-0.03%
NEU	D	-0.03%
GKOS	B	-0.03%
PEGA	B	-0.03%
FRPT	A	-0.03%
CWST	A	-0.03%
BPMC	B	-0.03%
WMG	D	-0.03%
IONS	F	-0.03%
RCM	A	-0.03%
VKTX	F	-0.03%
ROIV	C	-0.03%
UI	B	-0.02%
CHWY	B	-0.02%
CNA	C	-0.02%
LBRDA	C	-0.02%
VERX	A	-0.02%
CWAN	B	-0.02%
VRNS	D	-0.02%
RKT	F	-0.01%
BIRK	D	-0.01%
KNTK	A	-0.01%
UWMC	D	-0.0%