VBR vs. JMEE ETF Comparison

Comparison of Vanguard Small-Cap Value ETF - DNQ (VBR) to JPMorgan Market Expansion Enhanced Equity ETF (JMEE)

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

$181.50

Average Daily Volume

340,125

Number of Holdings ^*

807

* may have additional holdings in another (foreign) market

JMEE

JPMorgan Market Expansion Enhanced Equity ETF

JMEE Description

The investment seeks to provide investment results that correspond to or incrementally exceed the total return performance of the S&P 1000 Index that tracks the performance of the small- and mid-capitalization equity markets. Under normal circumstances, the fund will hold at least 80% of its assets in stocks in the index. The index is an index which includes stocks of small- and mid-capitalization companies. The fund may use futures contracts to gain or reduce exposure to its index, maintain liquidity and minimize transaction costs.

Grade (RS Rating)

Last Trade

$56.38

Average Daily Volume

87,165

Number of Holdings ^*

567

* may have additional holdings in another (foreign) market

Performance

Period	VBR	JMEE
30 Days	-1.70%	-1.33%
60 Days	0.03%	0.99%
90 Days	-4.88%	-3.67%
12 Months	14.17%	16.11%

342 Overlapping Holdings

Symbol	Grade	Weight in VBR	Weight in JMEE	Overlap
AA	D	0.25%	0.12%	0.12%
AAP	F	0.13%	0.11%	0.11%
AAT	B	0.03%	0.08%	0.03%
ABCB	C	0.1%	0.27%	0.1%
ABG	C	0.15%	0.14%	0.14%
ABM	B	0.09%	0.09%	0.09%
ACA	C	0.13%	0.13%	0.13%
ACHC	D	0.19%	0.17%	0.17%
ACM	C	0.37%	0.53%	0.37%
ADC	B	0.19%	0.28%	0.19%
AEO	F	0.12%	0.1%	0.1%
AFG	D	0.29%	0.28%	0.28%
AGCO	F	0.21%	0.34%	0.21%
AGO	C	0.13%	0.14%	0.13%
AIRC	A	0.17%	0.05%	0.05%
AIT	C	0.23%	0.2%	0.2%
ALK	D	0.17%	0.14%	0.14%
ALLY	B	0.33%	0.3%	0.3%
AM	B	0.15%	0.12%	0.12%
AMED	D	0.09%	0.22%	0.09%
AMG	C	0.17%	0.35%	0.17%
AMN	F	0.03%	0.03%	0.03%
AN	D	0.18%	0.31%	0.18%
ANDE	D	0.05%	0.14%	0.05%
ANF	C	0.26%	0.3%	0.26%
APLE	D	0.1%	0.03%	0.03%
APOG	C	0.04%	0.04%	0.04%
AR	D	0.3%	0.11%	0.11%
ARCB	F	0.07%	0.16%	0.07%
ARCH	F	0.09%	0.05%	0.05%
ARMK	A	0.26%	0.29%	0.26%
ARW	D	0.22%	0.35%	0.22%
ASGN	D	0.13%	0.15%	0.13%
ASH	D	0.14%	0.14%	0.14%
ASO	F	0.13%	0.12%	0.12%
ATGE	B	0.07%	0.09%	0.07%
ATR	D	0.3%	0.22%	0.22%
AVNS	C	0.03%	0.03%	0.03%
AVNT	D	0.13%	0.2%	0.13%
AWR	D	0.09%	0.07%	0.07%
AX	C	0.09%	0.08%	0.08%
AXTA	C	0.24%	0.09%	0.09%
AYI	D	0.25%	0.24%	0.24%
AZTA	D	0.08%	0.13%	0.08%
AZZ	C	0.07%	0.06%	0.06%
BANR	B	0.05%	0.24%	0.05%
BC	F	0.18%	0.19%	0.18%
BCC	F	0.17%	0.23%	0.17%
BCO	B	0.14%	0.15%	0.14%
BDC	B	0.12%	0.12%	0.12%
BDN	D	0.02%	0.02%	0.02%
BERY	D	0.21%	0.38%	0.21%
BFS	D	0.01%	0.01%	0.01%
BJ	B	0.37%	0.34%	0.34%
BJRI	B	0.01%	0.02%	0.01%
BKE	D	0.04%	0.03%	0.03%
BKU	C	0.07%	0.13%	0.07%
BLKB	C	0.07%	0.1%	0.07%
BLMN	F	0.06%	0.04%	0.04%
BRC	B	0.09%	0.34%	0.09%
BRKL	D	0.02%	0.06%	0.02%
BRX	B	0.21%	0.38%	0.21%
CACI	A	0.3%	0.58%	0.3%
CADE	C	0.16%	0.14%	0.14%
CAL	D	0.02%	0.05%	0.02%
CAR	F	0.06%	0.06%	0.06%
CARS	C	0.04%	0.04%	0.04%
CBSH	C	0.2%	0.17%	0.17%
CBT	D	0.18%	0.29%	0.18%
CC	F	0.12%	0.14%	0.12%
CCK	F	0.32%	0.2%	0.2%
CENTA	F	0.06%	0.04%	0.04%
CFFN	B	0.02%	0.02%	0.02%
CFR	D	0.18%	0.35%	0.18%
CG	C	0.32%	0.14%	0.14%
CHRD	C	0.23%	0.33%	0.23%
CLF	D	0.27%	0.21%	0.21%
CMC	C	0.2%	0.32%	0.2%
CNO	C	0.09%	0.1%	0.09%
CNX	D	0.12%	0.06%	0.06%
CNXC	D	0.11%	0.02%	0.02%
COHR	B	0.14%	0.55%	0.14%
COOP	B	0.16%	0.27%	0.16%
CPRI	D	0.13%	0.1%	0.1%
CR	B	0.23%	0.19%	0.19%
CRC	B	0.1%	0.1%	0.1%
CRI	F	0.07%	0.06%	0.06%
CSL	B	0.62%	0.8%	0.62%
CSR	B	0.03%	0.09%	0.03%
CTRE	C	0.1%	0.13%	0.1%
CUZ	D	0.11%	0.15%	0.11%
CVBF	C	0.07%	0.06%	0.06%
CWK	C	0.08%	0.06%	0.06%
DAN	F	0.06%	0.05%	0.05%
DCI	D	0.28%	0.44%	0.28%
DINO	D	0.27%	0.28%	0.27%
DKS	B	0.29%	0.43%	0.29%
DLX	B	0.03%	0.02%	0.02%
DNOW	C	0.05%	0.14%	0.05%
DRH	D	0.06%	0.05%	0.05%
DTM	A	0.2%	0.11%	0.11%
EGP	C	0.25%	0.43%	0.25%
EHC	B	0.27%	0.53%	0.27%
EME	C	0.57%	0.74%	0.57%
ENS	B	0.14%	0.12%	0.12%
EPC	B	0.06%	0.06%	0.06%
EPR	C	0.1%	0.09%	0.09%
EQH	B	0.43%	0.49%	0.43%
ESAB	D	0.18%	0.12%	0.12%
ESNT	B	0.18%	0.36%	0.18%
ETRN	D	0.18%	0.15%	0.15%
EVR	B	0.22%	0.12%	0.12%
EVTC	F	0.07%	0.1%	0.07%
EWBC	C	0.33%	0.46%	0.33%
FAF	D	0.17%	0.1%	0.1%
FBP	B	0.09%	0.24%	0.09%
FCF	C	0.04%	0.08%	0.04%
FCN	C	0.24%	0.18%	0.18%
FDP	F	0.03%	0.02%	0.02%
FHI	C	0.08%	0.17%	0.08%
FHN	C	0.28%	0.36%	0.28%
FL	B	0.08%	0.05%	0.05%
FLO	D	0.12%	0.15%	0.12%
FLS	C	0.2%	0.18%	0.18%
FNB	C	0.15%	0.13%	0.13%
FR	C	0.19%	0.36%	0.19%
FUL	D	0.13%	0.23%	0.13%
FWRD	D	0.01%	0.02%	0.01%
FYBR	B	0.2%	0.15%	0.15%
G	D	0.19%	0.33%	0.19%
GBCI	C	0.13%	0.11%	0.11%
GEF	F	0.0%	0.09%	0.0%
GEF	F	0.05%	0.09%	0.05%
GFF	D	0.09%	0.1%	0.09%
GHC	D	0.08%	0.02%	0.02%
GLPI	B	0.36%	0.23%	0.23%
GME	C	0.19%	0.18%	0.18%
GMS	F	0.12%	0.23%	0.12%
GNW	D	0.09%	0.07%	0.07%
GPI	C	0.13%	0.13%	0.13%
GPS	C	0.22%	0.17%	0.17%
GT	F	0.11%	0.09%	0.09%
GTY	D	0.04%	0.03%	0.03%
HAIN	F	0.02%	0.02%	0.02%
HBI	C	0.05%	0.03%	0.03%
HCC	D	0.11%	0.16%	0.11%
HELE	F	0.08%	0.03%	0.03%
HIW	C	0.09%	0.07%	0.07%
HMN	D	0.04%	0.04%	0.04%
HOG	F	0.14%	0.12%	0.12%
HOPE	C	0.04%	0.12%	0.04%
HP	D	0.05%	0.07%	0.05%
HPP	F	0.02%	0.02%	0.02%
HRB	A	0.22%	0.24%	0.22%
HTH	D	0.04%	0.13%	0.04%
HTZ	F	0.02%	0.01%	0.01%
HUBG	B	0.08%	0.07%	0.07%
HWC	C	0.12%	0.15%	0.12%
IART	C	0.06%	0.06%	0.06%
IDA	D	0.15%	0.33%	0.15%
IDCC	B	0.05%	0.11%	0.05%
INGR	D	0.24%	0.36%	0.24%
IOSP	D	0.1%	0.08%	0.08%
ITGR	D	0.13%	0.11%	0.11%
ITT	D	0.34%	0.29%	0.29%
JAZZ	F	0.2%	0.26%	0.2%
JEF	A	0.22%	0.26%	0.22%
JHG	B	0.14%	0.18%	0.14%
JLL	B	0.3%	0.41%	0.3%
JWN	B	0.07%	0.03%	0.03%
JXN	C	0.19%	0.13%	0.13%
KAR	C	0.06%	0.06%	0.06%
KBH	B	0.15%	0.18%	0.15%
KBR	C	0.28%	0.25%	0.25%
KELYA	D	0.02%	0.03%	0.02%
KEX	B	0.23%	0.21%	0.21%
KFY	B	0.11%	0.09%	0.09%
KNF	C	0.12%	0.05%	0.05%
KNX	C	0.23%	0.37%	0.23%
KRC	F	0.12%	0.18%	0.12%
KREF	F	0.01%	0.02%	0.01%
KTB	C	0.13%	0.06%	0.06%
LAD	F	0.22%	0.18%	0.18%
LAMR	A	0.16%	0.27%	0.16%
LPX	C	0.19%	0.27%	0.19%
LRN	B	0.04%	0.08%	0.04%
LXP	B	0.07%	0.23%	0.07%
LZB	C	0.05%	0.04%	0.04%
M	C	0.17%	0.13%	0.13%
MAC	C	0.1%	0.13%	0.1%
MAN	D	0.11%	0.19%	0.11%
MAT	F	0.2%	0.17%	0.17%
MATX	B	0.13%	0.19%	0.13%
MDU	B	0.16%	0.15%	0.15%
MKSI	B	0.26%	0.21%	0.21%
MLI	C	0.2%	0.39%	0.2%
MLKN	C	0.06%	0.06%	0.06%
MSM	F	0.12%	0.11%	0.11%
MTG	B	0.18%	0.32%	0.18%
MTH	D	0.2%	0.26%	0.2%
MTRN	F	0.07%	0.12%	0.07%
MTX	B	0.09%	0.07%	0.07%
MTZ	B	0.11%	0.18%	0.11%
MUR	D	0.2%	0.17%	0.17%
MUSA	B	0.26%	0.32%	0.26%
MXL	B	0.02%	0.04%	0.02%
NATL	B	0.06%	0.08%	0.06%
NBHC	B	0.04%	0.19%	0.04%
NGVT	D	0.02%	0.04%	0.02%
NNN	B	0.24%	0.25%	0.24%
NVRI	B	0.01%	0.02%	0.01%
NVST	F	0.1%	0.18%	0.1%
NVT	C	0.42%	0.63%	0.42%
NWE	C	0.1%	0.11%	0.1%
NWL	F	0.09%	0.07%	0.07%
NX	F	0.03%	0.02%	0.02%
NYT	B	0.25%	0.24%	0.24%
OC	C	0.49%	0.52%	0.49%
ODP	D	0.04%	0.06%	0.04%
OFG	C	0.05%	0.14%	0.05%
OGE	C	0.23%	0.37%	0.23%
OGS	C	0.11%	0.17%	0.11%
OHI	A	0.25%	0.17%	0.17%
OI	F	0.06%	0.05%	0.05%
OMCL	F	0.05%	0.03%	0.03%
ONB	C	0.16%	0.18%	0.16%
ORI	C	0.25%	0.16%	0.16%
OSK	D	0.23%	0.19%	0.19%
OVV	D	0.44%	0.36%	0.36%
PB	C	0.17%	0.34%	0.17%
PBF	D	0.15%	0.11%	0.11%
PBH	C	0.1%	0.03%	0.03%
PCH	F	0.11%	0.21%	0.11%
PENN	C	0.08%	0.09%	0.08%
PFGC	D	0.34%	0.46%	0.34%
PHIN	D	0.07%	0.16%	0.07%
PII	F	0.14%	0.09%	0.09%
PIPR	A	0.11%	0.15%	0.11%
PK	C	0.1%	0.23%	0.1%
PNFP	D	0.09%	0.35%	0.09%
POST	C	0.08%	0.16%	0.08%
PPC	A	0.04%	0.04%	0.04%
PR	C	0.14%	0.24%	0.14%
PRGS	C	0.07%	0.04%	0.04%
PSMT	C	0.06%	0.08%	0.06%
PTEN	D	0.14%	0.14%	0.14%
PUMP	D	0.03%	0.02%	0.02%
PVH	F	0.22%	0.22%	0.22%
R	B	0.16%	0.17%	0.16%
RDN	B	0.15%	0.13%	0.13%
REZI	D	0.09%	0.09%	0.09%
RGA	B	0.43%	0.59%	0.43%
RLI	D	0.2%	0.21%	0.2%
RNR	B	0.38%	0.31%	0.31%
RNST	C	0.05%	0.04%	0.04%
ROIC	C	0.05%	0.21%	0.05%
RPM	D	0.45%	0.3%	0.3%
RRC	D	0.27%	0.29%	0.27%
RRX	F	0.31%	0.28%	0.28%
RS	D	0.54%	0.6%	0.54%
RYN	D	0.14%	0.15%	0.14%
SAIC	D	0.22%	0.17%	0.17%
SBRA	A	0.11%	0.14%	0.11%
SCI	B	0.31%	0.29%	0.29%
SEIC	D	0.25%	0.23%	0.23%
SF	B	0.25%	0.23%	0.23%
SFM	B	0.25%	0.29%	0.25%
SHO	C	0.07%	0.06%	0.06%
SHOO	B	0.05%	0.1%	0.05%
SIG	F	0.14%	0.16%	0.14%
SITC	B	0.08%	0.07%	0.07%
SKYW	B	0.09%	0.09%	0.09%
SLG	B	0.11%	0.15%	0.11%
SLGN	D	0.12%	0.1%	0.1%
SLM	D	0.15%	0.17%	0.15%
SM	D	0.09%	0.39%	0.09%
SMG	C	0.09%	0.08%	0.08%
SMTC	D	0.04%	0.06%	0.04%
SNV	C	0.17%	0.2%	0.17%
SNX	C	0.26%	0.33%	0.26%
SON	D	0.19%	0.33%	0.19%
SR	C	0.1%	0.05%	0.05%
SRCL	B	0.01%	0.04%	0.01%
SRCL	B	0.15%	0.04%	0.04%
STAG	C	0.2%	0.03%	0.03%
STRA	D	0.08%	0.07%	0.07%
STWD	D	0.18%	0.16%	0.16%
SUPN	D	0.04%	0.04%	0.04%
SWN	D	0.26%	0.34%	0.26%
SWX	D	0.16%	0.03%	0.03%
SXI	D	0.06%	0.03%	0.03%
SXT	C	0.1%	0.08%	0.08%
TCBI	C	0.09%	0.03%	0.03%
TDC	D	0.1%	0.1%	0.1%
TDS	B	0.06%	0.05%	0.05%
TEX	D	0.12%	0.11%	0.11%
THC	B	0.42%	0.61%	0.42%
THO	D	0.16%	0.12%	0.12%
TILE	D	0.01%	0.03%	0.01%
TKR	D	0.17%	0.23%	0.17%
TMHC	D	0.18%	0.2%	0.18%
TNL	C	0.09%	0.15%	0.09%
TOL	D	0.4%	0.51%	0.4%
TPH	D	0.11%	0.2%	0.11%
TRMK	C	0.05%	0.05%	0.05%
TTEK	B	0.35%	0.32%	0.32%
UCBI	D	0.09%	0.04%	0.04%
UFPI	D	0.22%	0.46%	0.22%
UGI	D	0.17%	0.19%	0.17%
UMBF	C	0.11%	0.05%	0.05%
UNIT	F	0.02%	0.02%	0.02%
UNM	C	0.27%	0.42%	0.27%
URBN	B	0.08%	0.09%	0.08%
USFD	B	0.38%	0.32%	0.32%
USNA	D	0.02%	0.01%	0.01%
UTHR	A	0.4%	0.89%	0.4%
VAC	F	0.09%	0.1%	0.09%
VFC	C	0.15%	0.21%	0.15%
VGR	C	0.05%	0.04%	0.04%
VMI	B	0.16%	0.11%	0.11%
VNT	D	0.19%	0.1%	0.1%
VOYA	C	0.24%	0.21%	0.21%
VREX	F	0.02%	0.02%	0.02%
VRTS	C	0.05%	0.08%	0.05%
VSCO	D	0.05%	0.05%	0.05%
VVV	B	0.16%	0.23%	0.16%
WAFD	C	0.06%	0.09%	0.06%
WBS	D	0.24%	0.32%	0.24%
WCC	D	0.29%	0.2%	0.2%
WD	B	0.1%	0.03%	0.03%
WNC	D	0.03%	0.02%	0.02%
WSFS	B	0.08%	0.08%	0.08%
WSM	C	0.47%	0.6%	0.47%
WTFC	C	0.19%	0.2%	0.19%
WTRG	C	0.29%	0.25%	0.25%
WTS	D	0.17%	0.32%	0.17%
WWD	B	0.18%	0.09%	0.09%
WWW	B	0.03%	0.05%	0.03%
X	D	0.24%	0.16%	0.16%
XHR	D	0.05%	0.09%	0.05%
XPO	D	0.37%	0.15%	0.15%
ZD	C	0.08%	0.08%	0.08%

VBR Overweight 465 Positions Relative to JMEE

Symbol	Grade	Weight
BAH	B	0.62%
BLDR	F	0.61%
NRG	B	0.57%
FCNCA	C	0.57%
ATO	B	0.51%
IEX	D	0.49%
BG	B	0.48%
JBL	F	0.45%
WRK	D	0.43%
PNR	D	0.42%
KIM	B	0.41%
BBWI	F	0.37%
EMN	C	0.37%
JNPR	B	0.36%
CHK	D	0.35%
REG	B	0.35%
APA	D	0.34%
CPT	A	0.34%
UHS	A	0.34%
HUBB	D	0.33%
ALLE	D	0.33%
BRO	B	0.32%
STLD	C	0.32%
TFX	D	0.31%
FFIV	D	0.31%
TPR	C	0.31%
LDOS	B	0.31%
HII	D	0.31%
CHRW	B	0.3%
PNW	C	0.28%
AIZ	D	0.28%
HSIC	F	0.28%
BXP	C	0.27%
GPK	D	0.27%
ELAN	C	0.27%
BWA	F	0.26%
SOLV	F	0.26%
FRT	C	0.26%
HAS	C	0.25%
PRI	B	0.25%
APG	B	0.25%
AAL	F	0.24%
FMC	D	0.24%
AES	C	0.24%
FLR	B	0.23%
IVZ	D	0.22%
DOC	B	0.22%
NCLH	B	0.22%
DVA	B	0.22%
LEA	F	0.22%
RL	B	0.21%
MHK	D	0.21%
ALSN	D	0.21%
AGNC	B	0.21%
MSA	B	0.21%
CMA	C	0.21%
ST	D	0.2%
EVRG	C	0.2%
NSIT	C	0.2%
ZION	C	0.2%
RHI	F	0.2%
BPOP	C	0.2%
OLN	F	0.2%
NI	A	0.2%
WAL	C	0.2%
SIGI	F	0.19%
UHAL	D	0.19%
XRAY	F	0.19%
IPG	F	0.19%
KD	B	0.19%
BECN	D	0.19%
CRUS	A	0.19%
PARA	D	0.19%
SEE	C	0.18%
AXS	B	0.18%
BIO	F	0.18%
SSB	D	0.18%
OMF	D	0.18%
NXST	C	0.17%
OGN	B	0.17%
ESI	B	0.17%
KMX	B	0.17%
LNC	B	0.17%
ATKR	F	0.17%
MOS	D	0.16%
AL	C	0.16%
WHR	D	0.16%
LYFT	F	0.16%
NFG	C	0.16%
SUM	D	0.15%
OZK	D	0.15%
MOG.A	C	0.15%
TAP	F	0.15%
GATX	B	0.15%
AVT	C	0.15%
WIRE	B	0.14%
UBSI	D	0.14%
WU	D	0.14%
WTM	C	0.14%
POR	C	0.14%
CTLT	B	0.14%
AMKR	B	0.13%
COLB	D	0.13%
FFIN	C	0.13%
RIVN	C	0.13%
COTY	D	0.13%
HUN	F	0.13%
VNO	B	0.13%
THG	D	0.13%
HOMB	C	0.13%
NJR	C	0.13%
ZWS	D	0.13%
SYNA	F	0.12%
PRGO	F	0.12%
HASI	C	0.12%
OTTR	C	0.12%
ESGR	B	0.12%
KRYS	B	0.12%
BKH	C	0.12%
GL	C	0.12%
MDGL	B	0.12%
MIDD	F	0.11%
KMPR	D	0.11%
HL	D	0.11%
SPR	B	0.11%
SEM	A	0.11%
IAC	F	0.11%
PSN	B	0.11%
SANM	B	0.11%
ALE	B	0.11%
GTES	D	0.11%
PLXS	D	0.1%
WEN	F	0.1%
PAG	D	0.1%
CACC	D	0.1%
ASB	C	0.1%
VLY	F	0.1%
TPG	C	0.1%
EAT	B	0.1%
Z	C	0.1%
IBOC	C	0.1%
AROC	C	0.1%
NPO	D	0.1%
MPW	D	0.1%
BGC	C	0.1%
HI	F	0.1%
ACI	F	0.1%
PNM	D	0.1%
NHI	A	0.09%
ADTN	F	0.09%
DNB	D	0.09%
GVA	B	0.09%
AIN	D	0.09%
PRIM	B	0.09%
RUSHA	F	0.09%
BHF	D	0.09%
ESE	C	0.09%
DXC	C	0.09%
SKT	C	0.09%
BNL	B	0.09%
APAM	D	0.09%
AVA	C	0.09%
MGEE	D	0.09%
BTU	F	0.09%
AUB	D	0.09%
TGNA	D	0.09%
VSH	F	0.09%
ALIT	F	0.09%
FULT	C	0.09%
CBU	C	0.08%
ICUI	B	0.08%
ENOV	F	0.08%
KSS	D	0.08%
DY	B	0.08%
CATY	B	0.08%
WLK	D	0.08%
TRN	B	0.08%
SPB	C	0.08%
RRR	B	0.08%
FHB	C	0.08%
CRS	B	0.08%
MGRC	F	0.08%
RNG	F	0.08%
INDB	D	0.07%
PPBI	C	0.07%
EBC	C	0.07%
DEI	D	0.07%
LAUR	C	0.07%
IOVA	F	0.07%
NYCB	F	0.07%
FTRE	F	0.07%
PINC	F	0.07%
SATS	B	0.07%
PFSI	B	0.07%
BOH	D	0.07%
NUVL	C	0.07%
ABR	B	0.07%
CWEN	B	0.07%
OSIS	C	0.07%
TROX	D	0.07%
FIBK	C	0.07%
WERN	D	0.07%
RXO	A	0.07%
BXMT	C	0.07%
AIR	B	0.07%
UNF	C	0.07%
THS	C	0.06%
AKR	A	0.06%
TOWN	C	0.06%
PFS	D	0.06%
TTMI	B	0.06%
EDR	A	0.06%
AUR	C	0.06%
SCL	D	0.06%
B	B	0.06%
VRNT	C	0.06%
VIRT	B	0.06%
MC	C	0.06%
CNK	A	0.06%
JBLU	C	0.06%
VSAT	F	0.06%
MYGN	B	0.06%
BBIO	F	0.06%
GOLF	B	0.06%
PWSC	B	0.06%
PECO	C	0.06%
EQC	B	0.06%
FRME	C	0.06%
GO	D	0.06%
UE	A	0.06%
PRK	B	0.06%
CDE	B	0.06%
HAYW	F	0.06%
FFBC	C	0.06%
MIR	B	0.06%
OUT	C	0.06%
KMT	F	0.06%
PDCO	F	0.06%
ENR	C	0.06%
BOKF	C	0.06%
SFNC	D	0.06%
HNI	C	0.06%
ARI	D	0.05%
INFA	C	0.05%
LITE	B	0.05%
BHE	C	0.05%
HEES	F	0.05%
LEG	F	0.05%
KALU	D	0.05%
LTC	B	0.05%
REYN	C	0.05%
INSW	B	0.05%
WLY	B	0.05%
SFBS	C	0.05%
MCY	C	0.05%
DK	D	0.05%
XRX	F	0.05%
WSBC	C	0.05%
BANF	D	0.05%
KN	C	0.05%
IVT	C	0.05%
IBTX	B	0.05%
VSTS	D	0.05%
GBX	D	0.05%
OXM	D	0.05%
PRG	C	0.05%
HURN	C	0.05%
COMP	C	0.05%
WS	C	0.05%
IMVT	F	0.05%
NBTB	B	0.05%
VIAV	F	0.05%
NSP	F	0.05%
JOBY	D	0.05%
PEB	D	0.05%
WOR	F	0.05%
CXW	D	0.05%
GNL	D	0.05%
GEO	C	0.05%
CAKE	B	0.05%
ZETA	B	0.04%
THR	C	0.04%
KFRC	D	0.04%
SCS	B	0.04%
STBA	B	0.04%
GIII	F	0.04%
STEP	A	0.04%
VCTR	C	0.04%
EYE	F	0.04%
CRGY	B	0.04%
PMT	D	0.04%
BMBL	F	0.04%
SCSC	D	0.04%
NAVI	F	0.04%
HE	F	0.04%
BKD	C	0.04%
CSGS	F	0.04%
IPGP	F	0.04%
SPNT	D	0.04%
ALEX	B	0.04%
ESRT	D	0.04%
WABC	D	0.04%
NNI	C	0.04%
JELD	F	0.04%
OMI	F	0.04%
REVG	C	0.04%
LADR	B	0.04%
RKLB	B	0.04%
SBH	D	0.04%
LUMN	F	0.04%
JBGS	B	0.04%
UA	C	0.04%
NMRK	C	0.04%
UAA	C	0.04%
DDS	C	0.04%
NWN	F	0.04%
NHC	A	0.04%
NTCT	D	0.04%
CODI	D	0.04%
NWBI	B	0.04%
LGND	B	0.04%
CHCO	B	0.04%
HTLF	B	0.03%
PRAA	F	0.03%
SEB	D	0.03%
GES	F	0.03%
FA	D	0.03%
MATW	F	0.03%
HLIO	C	0.03%
RWT	B	0.03%
ATSG	D	0.03%
AXL	F	0.03%
INVA	B	0.03%
CWEN	B	0.03%
KOP	F	0.03%
DNUT	F	0.03%
SVC	F	0.03%
PDM	B	0.03%
PBI	C	0.03%
VSTO	A	0.03%
BHLB	C	0.03%
AMRX	C	0.03%
CMTG	F	0.03%
MATV	D	0.03%
LC	D	0.03%
SNDR	B	0.03%
HLF	C	0.03%
ECVT	F	0.03%
CVI	F	0.03%
ACT	C	0.03%
ECPG	F	0.03%
LGF.A	D	0.03%
ETWO	D	0.03%
NWLI	A	0.03%
AGIO	B	0.03%
CNNE	D	0.03%
MSGE	D	0.03%
AIV	C	0.03%
WMK	D	0.03%
EPAC	B	0.03%
MRC	C	0.03%
AMC	D	0.03%
CBRL	F	0.03%
EIG	C	0.03%
SAFT	D	0.03%
TRS	D	0.03%
DBRG	D	0.03%
LEVI	C	0.03%
UVV	D	0.03%
PACB	F	0.02%
HTLD	C	0.02%
SMR	A	0.02%
EGBN	D	0.02%
LGF.A	D	0.02%
AMCX	F	0.02%
UHAL	D	0.02%
ATUS	F	0.02%
TMP	C	0.02%
TGI	B	0.02%
KNSA	C	0.02%
SWI	B	0.02%
BV	B	0.02%
CNDT	C	0.02%
SABR	F	0.02%
FOR	F	0.02%
RDDT	B	0.02%
DIN	F	0.02%
MD	F	0.02%
NUS	F	0.02%
MNRO	F	0.02%
UNFI	C	0.02%
AMWD	F	0.02%
HY	C	0.02%
EMBC	C	0.02%
SCHL	D	0.02%
USM	B	0.02%
PRA	F	0.02%
ASTE	F	0.02%
MMI	D	0.02%
SAH	D	0.02%
BGS	F	0.02%
CGON	F	0.02%
AMBC	D	0.02%
BASE	D	0.02%
FG	C	0.02%
ZG	C	0.02%
RGR	F	0.02%
BRSP	F	0.02%
HCSG	D	0.02%
PRLB	D	0.02%
OLPX	D	0.01%
EAF	F	0.01%
OPK	F	0.01%
SAVE	F	0.01%
CRCT	D	0.01%
ACCO	F	0.01%
ACDC	F	0.01%
ALX	B	0.01%
TWKS	C	0.01%
TRTX	B	0.01%
CMP	F	0.01%
RUSHB	F	0.01%
BRCC	B	0.01%
ADV	D	0.01%
ZIP	F	0.01%
WOOF	C	0.01%
INN	D	0.01%
KRO	C	0.01%
EE	B	0.01%
IBTA	C	0.01%
RMR	D	0.01%
CENT	F	0.01%
RBRK	C	0.01%
GRC	B	0.01%
CHGG	F	0.01%
CLBK	D	0.01%
SWBI	D	0.01%
AMK	B	0.01%
NPK	D	0.01%
MEI	F	0.01%
DAWN	D	0.01%
CWH	F	0.01%
GCMG	D	0.01%
NAPA	F	0.01%
DBI	F	0.01%
RDUS	F	0.01%
NABL	A	0.01%
WRLD	F	0.01%
CLB	B	0.01%
UDMY	D	0.01%
PTVE	F	0.01%
UFCS	D	0.01%
CCO	D	0.01%
ARHS	C	0.01%
RC	F	0.0%
AC	B	0.0%
GPRO	F	0.0%
APPS	F	0.0%
SSP	F	0.0%
FORR	F	0.0%
LDI	F	0.0%
TTEC	F	0.0%
CRNC	F	0.0%
MED	F	0.0%
KRNY	D	0.0%

VBR Underweight 227 Positions Relative to JMEE

Symbol	Grade	Weight
PSTG	B	-0.84%
GDDY	A	-0.82%
CLH	A	-0.58%
CASY	A	-0.58%
FN	B	-0.55%
EXEL	B	-0.54%
FIX	C	-0.46%
WSO	C	-0.46%
MANH	B	-0.45%
CIEN	C	-0.45%
LII	A	-0.44%
LNW	B	-0.42%
BLD	D	-0.41%
GGG	D	-0.4%
NBIX	D	-0.4%
GMED	A	-0.4%
AMH	A	-0.4%
ELF	A	-0.4%
LSTR	B	-0.39%
CUBE	B	-0.39%
MTDR	D	-0.38%
LFUS	C	-0.38%
SKX	B	-0.38%
ALV	D	-0.37%
HQY	B	-0.36%
CHDN	A	-0.36%
WING	A	-0.36%
MASI	C	-0.36%
RUN	B	-0.35%
FELE	D	-0.34%
EPRT	B	-0.34%
WEX	D	-0.33%
KLIC	C	-0.32%
WMS	C	-0.32%
MEDP	A	-0.31%
CROX	B	-0.3%
IBKR	B	-0.29%
FNF	C	-0.29%
TXRH	A	-0.29%
CELH	F	-0.28%
HAE	D	-0.28%
BURL	B	-0.28%
SONO	F	-0.27%
CHX	C	-0.27%
SSD	C	-0.26%
VIR	F	-0.26%
ZI	F	-0.26%
SLAB	F	-0.26%
DT	F	-0.26%
IRDM	F	-0.25%
LSCC	F	-0.25%
BRBR	C	-0.25%
HGV	F	-0.25%
REXR	C	-0.25%
OLED	B	-0.25%
GKOS	A	-0.25%
CHE	D	-0.25%
LECO	D	-0.23%
RBC	B	-0.22%
NMIH	B	-0.22%
CIVI	D	-0.22%
ELS	C	-0.22%
NOV	C	-0.21%
OPCH	F	-0.21%
SPSC	C	-0.21%
TPX	D	-0.21%
ATI	C	-0.2%
MORN	C	-0.2%
PLNT	B	-0.2%
CPK	C	-0.2%
FND	F	-0.19%
RAMP	D	-0.19%
CASH	B	-0.19%
CGNX	C	-0.19%
DUOL	B	-0.19%
BRKR	F	-0.19%
PLMR	C	-0.19%
ENSG	B	-0.18%
H	B	-0.18%
CNM	D	-0.18%
RMBS	C	-0.18%
CPF	B	-0.18%
MMS	B	-0.17%
UTL	C	-0.17%
DAR	D	-0.17%
EXP	D	-0.17%
TTC	C	-0.16%
WH	C	-0.16%
FORM	B	-0.15%
HXL	D	-0.15%
EXLS	C	-0.15%
AAON	B	-0.15%
MARA	C	-0.15%
TRIP	F	-0.14%
PLAY	F	-0.14%
COKE	A	-0.14%
OII	C	-0.14%
FIVE	F	-0.14%
LBRT	D	-0.14%
FSS	D	-0.14%
CHCT	F	-0.14%
KRG	B	-0.14%
BANC	F	-0.14%
PCTY	F	-0.14%
SGH	C	-0.14%
ACLS	B	-0.14%
MTN	D	-0.14%
AMR	F	-0.14%
ICHR	C	-0.14%
SEDG	F	-0.14%
GTLS	C	-0.14%
GNTX	D	-0.13%
ALG	F	-0.13%
QLYS	D	-0.13%
AVAV	C	-0.13%
VBTX	C	-0.13%
AEIS	C	-0.13%
VAL	B	-0.13%
DV	F	-0.13%
HAFC	C	-0.12%
MMSI	B	-0.12%
ENVA	C	-0.12%
POWI	F	-0.12%
IBP	D	-0.12%
GXO	D	-0.12%
ARWR	C	-0.11%
BOOT	B	-0.11%
SHAK	D	-0.11%
UCTT	B	-0.11%
RH	D	-0.11%
IRT	A	-0.11%
LOPE	D	-0.11%
CHEF	B	-0.1%
BCPC	B	-0.1%
SNEX	C	-0.1%
YETI	C	-0.1%
OLLI	B	-0.1%
ERIE	C	-0.1%
CABO	F	-0.1%
ACIW	A	-0.1%
JBT	C	-0.09%
SMPL	D	-0.09%
FLGT	F	-0.09%
MYRG	F	-0.09%
MHO	D	-0.09%
BYD	C	-0.09%
PRFT	B	-0.08%
SXC	D	-0.08%
IIPR	B	-0.08%
SAM	C	-0.08%
ENV	C	-0.08%
WFRD	C	-0.08%
DFIN	D	-0.08%
CVCO	D	-0.08%
PATK	C	-0.08%
DIOD	F	-0.08%
SAIA	C	-0.08%
CWT	C	-0.07%
BSIG	D	-0.07%
YELP	F	-0.07%
RDNT	B	-0.07%
CEIX	C	-0.07%
FTDR	C	-0.07%
AHH	C	-0.06%
ADNT	F	-0.06%
SIX	B	-0.06%
ROCK	F	-0.06%
GOGO	D	-0.06%
RGLD	C	-0.06%
CCS	D	-0.06%
QNST	D	-0.06%
GRBK	B	-0.06%
CALM	B	-0.06%
SBSI	D	-0.06%
FCPT	B	-0.06%
REX	F	-0.06%
RGEN	D	-0.06%
HAYN	C	-0.06%
WOLF	F	-0.05%
GPRE	F	-0.05%
CW	B	-0.05%
TBBK	C	-0.05%
THRM	F	-0.05%
CNMD	F	-0.05%
HWKN	B	-0.05%
PRDO	C	-0.05%
SBCF	C	-0.05%
VVI	D	-0.05%
EXPO	B	-0.05%
MODG	C	-0.05%
ADUS	B	-0.05%
ROG	C	-0.05%
SITM	B	-0.05%
CARG	B	-0.05%
DEA	B	-0.04%
JOE	D	-0.04%
WGO	F	-0.04%
CUBI	C	-0.04%
COHU	C	-0.04%
TREX	F	-0.04%
PLAB	F	-0.04%
RCM	B	-0.04%
DCOM	C	-0.03%
VTOL	B	-0.03%
EEFT	D	-0.03%
JBSS	D	-0.03%
PFBC	D	-0.03%
GDEN	D	-0.03%
FOXF	C	-0.03%
LNN	B	-0.03%
LPG	D	-0.03%
MYE	F	-0.02%
HFWA	D	-0.02%
ASIX	F	-0.02%
EFC	B	-0.02%
DXPE	D	-0.02%
COLM	D	-0.02%
EXPI	D	-0.02%
DGII	D	-0.02%
KLG	F	-0.02%
HSTM	B	-0.02%
CLDT	F	-0.01%
VECO	B	-0.01%
TALO	D	-0.01%
TWI	F	-0.01%
HVT	F	-0.01%
ZEUS	F	-0.01%