VBR vs. JPME ETF Comparison

Comparison of Vanguard Small-Cap Value ETF - DNQ (VBR) to JPMorgan Diversified Return U.S. Mid Cap Equity ETF (JPME)

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

$214.02

Average Daily Volume

435,439

Number of Holdings ^*

794

* may have additional holdings in another (foreign) market

JPME

JPMorgan Diversified Return U.S. Mid Cap Equity ETF

JPME Description

The investment seeks investment results that closely correspond, before fees and expenses, to the performance of the Russell Midcap Diversified Factor Index. The fund will invest at least 80% of its net assets in securities included in the underlying index. It may invest up to 20% of its assets in exchange-traded futures to seek performance that corresponds to the underlying index. The underlying index is comprised of U.S. equity securities selected to represent a diversified set of factor characteristics, originally developed by the adviser.

Grade (RS Rating)

Last Trade

$109.93

Average Daily Volume

10,028

Number of Holdings ^*

338

* may have additional holdings in another (foreign) market

Performance

Period	VBR	JPME
30 Days	7.07%	5.14%
60 Days	7.22%	5.14%
90 Days	8.68%	7.46%
12 Months	33.95%	30.14%

157 Overlapping Holdings

Symbol	Grade	Weight in VBR	Weight in JPME	Overlap
ACHC	F	0.11%	0.17%	0.11%
ACI	C	0.17%	0.3%	0.17%
ADTN	A	0.09%	0.03%	0.03%
AFG	A	0.28%	0.19%	0.19%
AGO	B	0.12%	0.24%	0.12%
ALLY	C	0.28%	0.11%	0.11%
ALSN	B	0.27%	0.51%	0.27%
AM	A	0.14%	0.4%	0.14%
AN	C	0.15%	0.32%	0.15%
APA	D	0.26%	0.14%	0.14%
AR	B	0.11%	0.3%	0.11%
ASH	D	0.11%	0.26%	0.11%
ATO	A	0.58%	0.42%	0.42%
ATR	B	0.33%	0.01%	0.01%
AVT	C	0.14%	0.14%	0.14%
AXS	A	0.17%	0.15%	0.15%
AYI	B	0.27%	0.09%	0.09%
BAH	F	0.69%	0.14%	0.14%
BG	F	0.35%	0.33%	0.33%
BLDR	D	0.58%	0.34%	0.34%
BPOP	B	0.19%	0.3%	0.19%
BRX	A	0.24%	0.4%	0.24%
BWA	D	0.22%	0.13%	0.13%
BYD	C	0.07%	0.27%	0.07%
CACI	D	0.36%	0.4%	0.36%
CC	C	0.08%	0.0%	0.0%
CLF	F	0.18%	0.28%	0.18%
CMA	A	0.25%	0.07%	0.07%
CNXC	F	0.07%	0.06%	0.06%
CPT	B	0.36%	0.2%	0.2%
CR	A	0.22%	0.05%	0.05%
CRI	D	0.05%	0.04%	0.04%
CRUS	D	0.17%	0.27%	0.17%
CSL	C	0.57%	0.42%	0.42%
CUZ	B	0.14%	0.15%	0.14%
CWEN	C	0.03%	0.24%	0.03%
CWEN	C	0.07%	0.24%	0.07%
CXT	B	0.08%	0.1%	0.08%
DINO	D	0.18%	0.35%	0.18%
DKS	C	0.23%	0.36%	0.23%
DTM	B	0.26%	0.5%	0.26%
DVA	B	0.17%	0.38%	0.17%
EGP	F	0.24%	0.23%	0.23%
EHC	B	0.29%	0.42%	0.29%
ELAN	D	0.18%	0.16%	0.16%
EME	C	0.61%	0.38%	0.38%
EMN	D	0.36%	0.39%	0.36%
EPR	D	0.1%	0.33%	0.1%
ESI	A	0.17%	0.39%	0.17%
EVRG	A	0.19%	0.4%	0.19%
FBIN	D	0.3%	0.32%	0.3%
FCNCA	A	0.61%	0.43%	0.43%
FLO	D	0.12%	0.26%	0.12%
FMC	D	0.24%	0.21%	0.21%
FNB	A	0.15%	0.07%	0.07%
FR	C	0.2%	0.23%	0.2%
FRT	B	0.27%	0.18%	0.18%
FTRE	D	0.04%	0.03%	0.03%
FYBR	D	0.26%	0.37%	0.26%
GLPI	C	0.38%	0.36%	0.36%
GO	C	0.04%	0.06%	0.04%
HIW	D	0.1%	0.3%	0.1%
HOG	D	0.11%	0.02%	0.02%
HRB	D	0.24%	0.33%	0.24%
HSIC	B	0.26%	0.29%	0.26%
HUBB	B	0.33%	0.43%	0.33%
HUN	F	0.11%	0.22%	0.11%
IDA	A	0.16%	0.24%	0.16%
IEX	B	0.47%	0.05%	0.05%
INGR	B	0.25%	0.42%	0.25%
IPG	D	0.32%	0.03%	0.03%
ITT	A	0.33%	0.17%	0.17%
JAZZ	B	0.19%	0.26%	0.19%
JBL	B	0.39%	0.32%	0.32%
JEF	A	0.27%	0.49%	0.27%
JLL	D	0.38%	0.38%	0.38%
JNPR	F	0.37%	0.38%	0.37%
KIM	A	0.47%	0.36%	0.36%
KRC	C	0.14%	0.29%	0.14%
KSS	F	0.06%	0.01%	0.01%
LAMR	D	0.17%	0.39%	0.17%
LDOS	C	0.36%	0.41%	0.36%
LPX	B	0.18%	0.27%	0.18%
M	D	0.12%	0.14%	0.12%
MGM	D	0.12%	0.23%	0.12%
MOS	F	0.25%	0.29%	0.25%
MSM	C	0.1%	0.33%	0.1%
MTG	C	0.19%	0.37%	0.19%
NFG	A	0.16%	0.36%	0.16%
NI	A	0.23%	0.41%	0.23%
NNN	D	0.23%	0.22%	0.22%
NRG	B	0.55%	0.45%	0.45%
NVST	B	0.11%	0.05%	0.05%
NVT	B	0.36%	0.18%	0.18%
NXST	C	0.16%	0.36%	0.16%
OC	A	0.45%	0.41%	0.41%
OGE	B	0.23%	0.4%	0.23%
OHI	C	0.32%	0.38%	0.32%
OLN	D	0.14%	0.28%	0.14%
OMF	A	0.17%	0.45%	0.17%
ORI	A	0.24%	0.4%	0.24%
OVV	B	0.3%	0.27%	0.27%
PAG	B	0.09%	0.35%	0.09%
PB	A	0.19%	0.07%	0.07%
PFGC	B	0.37%	0.4%	0.37%
PINC	B	0.06%	0.14%	0.06%
PK	B	0.08%	0.33%	0.08%
PNW	B	0.29%	0.39%	0.29%
POST	C	0.07%	0.35%	0.07%
PPC	C	0.05%	0.42%	0.05%
PR	B	0.13%	0.4%	0.13%
PRI	A	0.27%	0.22%	0.22%
QRVO	F	0.2%	0.12%	0.12%
R	B	0.18%	0.27%	0.18%
REG	B	0.38%	0.37%	0.37%
REYN	D	0.04%	0.18%	0.04%
RGA	A	0.41%	0.41%	0.41%
RHI	B	0.2%	0.07%	0.07%
RPM	A	0.48%	0.41%	0.41%
RRC	B	0.2%	0.29%	0.2%
RS	B	0.46%	0.37%	0.37%
RYN	D	0.14%	0.14%	0.14%
SAIC	F	0.22%	0.28%	0.22%
SCI	B	0.33%	0.15%	0.15%
SJM	D	0.34%	0.29%	0.29%
SLGN	A	0.12%	0.1%	0.1%
SLM	A	0.14%	0.17%	0.14%
SMG	D	0.11%	0.25%	0.11%
SNX	C	0.22%	0.28%	0.22%
SON	D	0.15%	0.14%	0.14%
SPB	C	0.07%	0.37%	0.07%
STAG	F	0.2%	0.28%	0.2%
STLD	B	0.28%	0.42%	0.28%
STWD	C	0.18%	0.23%	0.18%
TAP	C	0.28%	0.42%	0.28%
TFX	F	0.28%	0.08%	0.08%
THC	D	0.43%	0.4%	0.4%
THO	B	0.15%	0.13%	0.13%
TKR	D	0.15%	0.35%	0.15%
TNL	A	0.09%	0.07%	0.07%
TOL	B	0.44%	0.42%	0.42%
TPR	B	0.32%	0.43%	0.32%
UGI	A	0.15%	0.37%	0.15%
UHS	D	0.34%	0.33%	0.33%
UNM	A	0.28%	0.5%	0.28%
USFD	A	0.44%	0.43%	0.43%
UTHR	C	0.49%	0.42%	0.42%
VIRT	B	0.07%	0.04%	0.04%
VVV	F	0.15%	0.36%	0.15%
WEN	D	0.1%	0.13%	0.1%
WLK	D	0.07%	0.31%	0.07%
WSM	B	0.39%	0.31%	0.31%
WTM	A	0.13%	0.13%	0.13%
WU	D	0.11%	0.04%	0.04%
X	C	0.23%	0.33%	0.23%
XRAY	F	0.14%	0.09%	0.09%
ZION	B	0.22%	0.09%	0.09%

VBR Overweight 637 Positions Relative to JPME

Symbol	Grade	Weight
SW	A	0.78%
PNR	A	0.48%
ACM	A	0.42%
EQH	B	0.42%
FFIV	B	0.4%
RNR	C	0.4%
EWBC	A	0.39%
SFM	A	0.38%
TTEK	F	0.38%
ALLE	D	0.36%
CHRW	C	0.34%
CG	A	0.34%
AES	F	0.34%
BJ	A	0.33%
CCK	C	0.33%
KMX	B	0.33%
BXP	D	0.33%
RRX	B	0.32%
EPAM	C	0.3%
AA	B	0.3%
AIZ	A	0.29%
ARMK	B	0.29%
SOLV	C	0.29%
SF	B	0.29%
WCC	B	0.28%
GL	B	0.28%
WTRG	B	0.28%
EVR	B	0.28%
LKQ	D	0.28%
Z	A	0.27%
FHN	A	0.27%
MLI	C	0.27%
SEIC	B	0.26%
AAL	B	0.26%
DCI	B	0.26%
WBS	A	0.26%
AIT	A	0.26%
LAD	A	0.26%
KBR	F	0.26%
FLR	B	0.26%
MUSA	A	0.26%
APG	B	0.25%
GPK	C	0.25%
GME	C	0.25%
NYT	C	0.25%
HAS	D	0.25%
WAL	B	0.25%
VFC	C	0.24%
AXTA	A	0.24%
WTFC	A	0.23%
CHRD	D	0.23%
DOC	D	0.23%
VOYA	B	0.23%
KNX	B	0.23%
IVZ	B	0.22%
SSB	B	0.22%
ADC	B	0.22%
VNO	B	0.22%
JXN	C	0.22%
RL	B	0.22%
BERY	B	0.22%
ESAB	B	0.21%
UFPI	B	0.21%
COHR	B	0.21%
MHK	D	0.21%
XPO	B	0.21%
CBSH	A	0.21%
HII	D	0.21%
AGNC	D	0.21%
CFR	B	0.21%
MKSI	C	0.2%
ANF	C	0.2%
RLI	B	0.2%
TMHC	B	0.2%
G	B	0.2%
SNV	B	0.2%
FLS	B	0.2%
MAT	D	0.2%
BIO	D	0.2%
MIDD	C	0.2%
FCN	D	0.2%
AGCO	D	0.19%
LUMN	C	0.19%
MTH	D	0.19%
UHAL	D	0.19%
KEX	C	0.19%
OSK	B	0.19%
ALK	C	0.18%
ESNT	D	0.18%
CADE	B	0.18%
ONB	B	0.18%
CMC	B	0.18%
MSA	D	0.18%
BBWI	D	0.18%
FAF	A	0.18%
ARW	D	0.18%
VMI	B	0.18%
WHR	B	0.17%
BECN	B	0.17%
VNT	B	0.17%
NSIT	F	0.17%
SRCL	C	0.17%
PARA	C	0.17%
SUM	B	0.17%
SIRI	C	0.17%
CBT	C	0.17%
GBCI	B	0.17%
LNC	B	0.17%
COLB	A	0.17%
LEA	D	0.16%
COOP	B	0.16%
MOG.A	B	0.16%
AMG	B	0.16%
PVH	C	0.16%
KNF	A	0.16%
SIGI	C	0.16%
TPG	A	0.16%
ALB	C	0.16%
NCLH	B	0.16%
MDU	D	0.16%
KBH	D	0.15%
GAP	C	0.15%
UBSI	B	0.15%
PSN	D	0.15%
BCC	B	0.15%
ST	F	0.15%
MATX	C	0.15%
WTS	B	0.15%
RDN	C	0.15%
JHG	A	0.15%
BC	C	0.15%
KD	B	0.15%
GPI	A	0.14%
BDC	B	0.14%
OZK	B	0.14%
KTB	B	0.14%
PIPR	B	0.14%
MDGL	B	0.14%
THG	A	0.14%
OGN	D	0.14%
AUR	C	0.14%
POR	C	0.14%
CNX	A	0.14%
SLG	B	0.14%
HOMB	A	0.14%
GATX	A	0.14%
ZWS	B	0.14%
RIVN	F	0.13%
BCO	D	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%
MUR	D	0.13%
SBRA	C	0.13%
UMBF	B	0.13%
NJR	A	0.13%
ABG	B	0.13%
GTES	A	0.13%
ACA	A	0.13%
DNB	B	0.12%
ICUI	D	0.12%
FUL	F	0.12%
OGS	A	0.12%
MAC	B	0.12%
ABCB	B	0.12%
EDR	A	0.12%
HASI	D	0.12%
VLY	B	0.12%
BKH	A	0.12%
ITGR	B	0.12%
CRC	B	0.12%
SEE	C	0.12%
AVNT	B	0.12%
TPH	D	0.11%
SKYW	B	0.11%
CDP	C	0.11%
SKT	B	0.11%
SANM	B	0.11%
PBH	A	0.11%
AX	A	0.11%
ASO	F	0.11%
GVA	A	0.11%
ESGR	B	0.11%
KFY	B	0.11%
ALE	A	0.11%
PII	D	0.11%
NUVL	D	0.11%
KMPR	B	0.11%
PNFP	B	0.11%
HL	D	0.11%
SIG	B	0.11%
MTZ	B	0.11%
ENS	D	0.11%
ASGN	F	0.11%
PLXS	B	0.11%
PNM	F	0.11%
BEN	C	0.1%
WBA	F	0.1%
MGEE	C	0.1%
NWE	B	0.1%
PCH	D	0.1%
OTTR	C	0.1%
TEX	D	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%
ASB	B	0.1%
IBOC	A	0.1%
CNO	A	0.1%
AEO	F	0.1%
IAC	D	0.1%
NWL	B	0.1%
PRGO	B	0.1%
SR	A	0.1%
WD	D	0.1%
GMS	B	0.1%
RUSHA	C	0.1%
TCBI	B	0.1%
DXC	B	0.1%
GNW	A	0.09%
WSFS	A	0.09%
AVA	A	0.09%
JWN	C	0.09%
BRC	D	0.09%
DEI	B	0.09%
MAN	D	0.09%
SATS	D	0.09%
MIR	A	0.09%
PENN	C	0.09%
PTEN	C	0.09%
NPO	A	0.09%
ATKR	C	0.09%
APAM	B	0.09%
AWR	B	0.09%
TDC	D	0.09%
AMED	F	0.09%
CWK	B	0.09%
BTU	B	0.09%
CATY	B	0.09%
FBP	B	0.09%
FHB	A	0.09%
EBC	B	0.09%
PRIM	A	0.09%
SXT	B	0.09%
APLE	B	0.09%
COMP	B	0.09%
CBU	B	0.09%
AROC	B	0.09%
FHI	A	0.09%
ESE	B	0.09%
FIBK	A	0.08%
AKR	B	0.08%
CVBF	A	0.08%
COTY	F	0.08%
LXP	D	0.08%
ABR	C	0.08%
BKU	A	0.08%
NSP	D	0.08%
PBF	D	0.08%
TDS	B	0.08%
IOSP	B	0.08%
UE	C	0.08%
UNF	B	0.08%
TGNA	B	0.08%
SYNA	C	0.08%
DBRG	F	0.08%
REZI	A	0.08%
PRGS	A	0.08%
GHC	C	0.08%
WAFD	B	0.08%
SFNC	B	0.08%
MPW	F	0.08%
ALIT	C	0.08%
GFF	A	0.08%
MGRC	B	0.08%
RNG	B	0.08%
AMKR	D	0.08%
TRN	C	0.08%
IOVA	F	0.08%
BOH	B	0.08%
BHF	B	0.08%
ATGE	B	0.08%
OMCL	C	0.07%
GT	C	0.07%
ENR	B	0.07%
ENOV	C	0.07%
CDE	D	0.07%
PFS	B	0.07%
PECO	A	0.07%
FFBC	A	0.07%
HBI	B	0.07%
RNA	D	0.07%
VSCO	B	0.07%
BOKF	B	0.07%
SM	B	0.07%
DY	D	0.07%
MTX	B	0.07%
VAC	B	0.07%
HAYW	B	0.07%
PPBI	B	0.07%
ARCB	C	0.07%
BFH	B	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	D	0.07%
NMRK	B	0.06%
NATL	B	0.06%
CGON	F	0.06%
AZTA	D	0.06%
TRMK	B	0.06%
LRN	A	0.06%
IMVT	F	0.06%
RXO	C	0.06%
PHIN	A	0.06%
HI	C	0.06%
BLKB	B	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%
SMMT	D	0.06%
STRA	C	0.06%
PSMT	C	0.06%
SFBS	B	0.06%
ZG	A	0.06%
VIAV	B	0.06%
SHO	C	0.06%
IBTX	B	0.06%
HURN	B	0.06%
FRME	B	0.06%
RNST	B	0.06%
ZD	C	0.06%
EVTC	B	0.06%
LAUR	A	0.06%
MTRN	C	0.06%
VSH	D	0.06%
CAKE	C	0.06%
AIN	C	0.06%
INFA	D	0.06%
IVT	B	0.06%
AAP	C	0.06%
TOWN	B	0.06%
B	B	0.06%
OSIS	B	0.06%
IPGP	D	0.06%
AZZ	B	0.06%
WERN	C	0.06%
TTMI	B	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	D	0.05%
MLKN	D	0.05%
LZB	B	0.05%
DDS	B	0.05%
FCF	A	0.05%
UAA	C	0.05%
HEES	B	0.05%
CHCO	B	0.05%
CNK	B	0.05%
APOG	B	0.05%
LTC	B	0.05%
PDCO	D	0.05%
DRH	B	0.05%
HE	C	0.05%
NWBI	B	0.05%
THS	D	0.05%
NBHC	B	0.05%
GOLF	B	0.05%
PZZA	D	0.05%
KAR	B	0.05%
EPC	D	0.05%
OI	C	0.05%
STEP	B	0.05%
GBX	A	0.05%
PRG	C	0.05%
VSTS	C	0.05%
WSBC	A	0.05%
SUPN	C	0.05%
GNL	F	0.05%
CRGY	B	0.05%
LGND	B	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	A	0.04%
IART	C	0.04%
VC	D	0.04%
WS	B	0.04%
DNOW	B	0.04%
VRE	B	0.04%
BKE	B	0.04%
COLM	B	0.04%
NNI	D	0.04%
LADR	B	0.04%
RRR	D	0.04%
WABC	B	0.04%
CSGS	B	0.04%
REVG	B	0.04%
VRNT	C	0.04%
CAR	C	0.04%
SBH	C	0.04%
LCII	C	0.04%
ALEX	C	0.04%
NX	C	0.04%
STBA	B	0.04%
ESRT	C	0.04%
HTH	B	0.04%
CODI	B	0.04%
BLMN	F	0.04%
WT	B	0.04%
HOPE	B	0.04%
NTCT	C	0.04%
VCTR	B	0.04%
TROX	D	0.04%
UPBD	B	0.04%
AMN	F	0.04%
CXW	B	0.04%
SMR	B	0.04%
HELE	C	0.04%
KN	B	0.04%
VRTS	B	0.04%
WKC	D	0.04%
ANDE	D	0.04%
JBGS	D	0.04%
NWN	A	0.04%
ELME	D	0.04%
BHE	B	0.04%
HP	B	0.04%
CENTA	C	0.04%
LC	A	0.04%
HMN	B	0.04%
NGVT	B	0.04%
NHC	C	0.04%
GEF	A	0.04%
LEG	F	0.04%
GTY	B	0.04%
HLIO	B	0.04%
NPAB	B	0.04%
CABO	C	0.04%
AVNS	F	0.03%
MMI	B	0.03%
THR	B	0.03%
FA	C	0.03%
XRX	F	0.03%
LGF.A	C	0.03%
SCSC	B	0.03%
BV	B	0.03%
OMI	F	0.03%
JACK	D	0.03%
MYGN	F	0.03%
BRKL	B	0.03%
DK	C	0.03%
DNUT	D	0.03%
RWT	D	0.03%
USM	B	0.03%
ODP	F	0.03%
MRC	B	0.03%
DAN	D	0.03%
CARS	B	0.03%
UA	C	0.03%
WMK	C	0.03%
SCS	C	0.03%
KWR	C	0.03%
INSW	F	0.03%
ECPG	B	0.03%
TRS	B	0.03%
INVA	D	0.03%
SNDR	B	0.03%
CBRL	C	0.03%
MD	B	0.03%
ACT	D	0.03%
KFRC	D	0.03%
FBRT	C	0.03%
CSR	B	0.03%
ATSG	B	0.03%
OXM	D	0.03%
HTLF	B	0.03%
VSAT	F	0.03%
NAVI	C	0.03%
SAFT	C	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	B	0.03%
BHLB	B	0.03%
PMT	D	0.03%
BKD	D	0.03%
UNIT	B	0.03%
AMRX	C	0.03%
UVV	B	0.03%
CMPR	D	0.02%
SVC	F	0.02%
ATUS	C	0.02%
DAWN	F	0.02%
CVI	F	0.02%
FOR	F	0.02%
NAPA	B	0.02%
CWH	B	0.02%
BASE	C	0.02%
HPP	F	0.02%
PUMP	B	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	B	0.02%
MODG	F	0.02%
SEB	F	0.02%
BMBL	C	0.02%
MATW	C	0.02%
KREF	D	0.02%
PRLB	A	0.02%
ECVT	C	0.02%
AMWD	C	0.02%
ETWO	F	0.02%
XHR	B	0.02%
HLF	C	0.02%
ASTE	B	0.02%
CFFN	B	0.02%
PCRX	C	0.02%
WNC	C	0.02%
CMTG	F	0.02%
TMP	B	0.02%
SAH	A	0.02%
PRAA	C	0.02%
FG	B	0.02%
PRA	C	0.02%
MNRO	D	0.02%
HAIN	C	0.02%
BRSP	B	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	D	0.01%
DIN	C	0.01%
CENT	C	0.01%
ALX	D	0.01%
CMP	C	0.01%
AMBC	C	0.01%
KRO	D	0.01%
TGI	B	0.01%
VREX	C	0.01%
SWBI	C	0.01%
CNDT	C	0.01%
ZIP	F	0.01%
TRTX	B	0.01%
SRCL	C	0.01%
HTZ	C	0.01%
CRCT	F	0.01%
WOOF	D	0.01%
NVRI	F	0.01%
INN	D	0.01%
RUSHB	B	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	B	0.01%
FWRD	D	0.01%
USNA	C	0.01%
CCO	C	0.01%
CLB	B	0.01%
CLBK	B	0.01%
HTLD	B	0.01%
ARRY	C	0.01%
BFS	C	0.01%
SCHL	D	0.01%
DJT	C	0.01%
TILE	B	0.01%
GCMG	B	0.01%
MXL	C	0.01%
LGF.A	C	0.01%
CAL	D	0.01%
GES	F	0.01%
SCWX	B	0.0%
AC	C	0.0%
AMCX	C	0.0%
ACDC	C	0.0%
TASK	C	0.0%
LESL	C	0.0%
LDI	C	0.0%
GEF	A	0.0%
NUS	D	0.0%
BRCC	F	0.0%

VBR Underweight 182 Positions Relative to JPME

Symbol	Grade	Weight
APP	B	-1.27%
VST	B	-0.71%
CIEN	B	-0.51%
SYF	B	-0.51%
TRGP	B	-0.49%
KMI	A	-0.48%
AMP	A	-0.48%
CMI	A	-0.47%
WMB	A	-0.47%
PWR	A	-0.46%
OKE	A	-0.45%
IP	B	-0.45%
ETR	B	-0.45%
CBRE	B	-0.44%
LNG	B	-0.44%
TPL	A	-0.44%
SNA	A	-0.44%
GRMN	B	-0.44%
TXRH	C	-0.43%
GWW	B	-0.43%
EXEL	B	-0.43%
KR	B	-0.42%
CF	B	-0.41%
MRO	B	-0.41%
CLH	B	-0.41%
HBAN	A	-0.41%
CASY	A	-0.41%
SPG	B	-0.41%
PEG	A	-0.41%
XEL	A	-0.41%
FAST	B	-0.41%
PKG	A	-0.41%
CAH	B	-0.4%
LITE	B	-0.4%
PCG	A	-0.39%
DGX	A	-0.39%
WEC	A	-0.39%
AME	A	-0.39%
TYL	B	-0.39%
IRM	D	-0.39%
COR	B	-0.39%
PPL	B	-0.39%
CHTR	C	-0.39%
VTRS	A	-0.38%
IT	C	-0.38%
AFL	B	-0.38%
DECK	A	-0.38%
K	A	-0.38%
LNT	A	-0.38%
FANG	D	-0.38%
HIG	B	-0.38%
AVB	B	-0.38%
DTE	C	-0.37%
NVR	D	-0.37%
ROKU	D	-0.37%
AJG	B	-0.37%
CMS	C	-0.37%
MANH	D	-0.37%
PHM	D	-0.37%
RMD	C	-0.36%
LEN	D	-0.36%
EIX	B	-0.36%
TSN	B	-0.36%
BRBR	A	-0.36%
CLX	B	-0.35%
ED	D	-0.35%
FE	C	-0.35%
CNM	D	-0.35%
CUBE	D	-0.35%
GGG	B	-0.35%
SSNC	B	-0.35%
CBOE	B	-0.35%
TSCO	D	-0.34%
ANSS	B	-0.34%
COKE	C	-0.34%
NTAP	C	-0.34%
HPE	B	-0.34%
KVUE	A	-0.33%
CHE	D	-0.33%
CTRA	B	-0.33%
DHI	D	-0.33%
VICI	C	-0.33%
GEN	B	-0.33%
CHD	B	-0.33%
STE	F	-0.32%
LH	C	-0.32%
CPB	D	-0.32%
HST	C	-0.32%
GIS	D	-0.32%
HOLX	D	-0.32%
ESS	B	-0.31%
ROST	C	-0.31%
WY	D	-0.31%
EG	C	-0.31%
RBC	A	-0.31%
MTB	A	-0.31%
NUE	C	-0.31%
CAG	D	-0.31%
MAS	D	-0.31%
LYB	F	-0.31%
AVY	D	-0.3%
LECO	B	-0.3%
GNTX	C	-0.3%
LSTR	D	-0.3%
HPQ	B	-0.3%
CTVA	C	-0.3%
NEU	C	-0.3%
DOX	D	-0.3%
EQR	B	-0.29%
A	D	-0.29%
IFF	D	-0.29%
RGLD	C	-0.29%
MOH	F	-0.29%
BBY	D	-0.29%
ADM	D	-0.29%
SAM	C	-0.28%
VEEV	C	-0.28%
EXC	C	-0.28%
MEDP	D	-0.28%
IQV	D	-0.28%
MKC	D	-0.28%
OMC	C	-0.28%
WST	C	-0.28%
AOS	F	-0.28%
PAYX	C	-0.27%
DVN	F	-0.27%
MPWR	F	-0.27%
INCY	C	-0.27%
FRPT	B	-0.27%
SYY	B	-0.27%
TER	D	-0.27%
HRL	D	-0.26%
DRI	B	-0.26%
CDW	F	-0.26%
AMH	D	-0.26%
MAA	B	-0.25%
CNC	D	-0.25%
NBIX	C	-0.25%
UI	A	-0.25%
QGEN	D	-0.25%
RVTY	F	-0.25%
L	A	-0.25%
HAL	C	-0.25%
IRDM	D	-0.24%
SWKS	F	-0.24%
ON	D	-0.24%
DLB	B	-0.22%
CROX	D	-0.22%
WPC	D	-0.22%
EXPD	D	-0.22%
EXP	A	-0.21%
MCHP	D	-0.21%
HSY	F	-0.21%
RPRX	D	-0.21%
BRKR	D	-0.2%
FITB	A	-0.19%
CE	F	-0.19%
FNF	B	-0.18%
GLW	B	-0.18%
REXR	F	-0.18%
BKR	B	-0.18%
RF	A	-0.17%
KEYS	A	-0.17%
BRO	B	-0.17%
DFS	B	-0.14%
POOL	C	-0.13%
TXT	D	-0.13%
AKAM	D	-0.12%
CFG	B	-0.11%
KEY	B	-0.1%
ACGL	D	-0.1%
NSA	D	-0.09%
LBRDK	C	-0.09%
GEHC	F	-0.07%
TECH	D	-0.06%
NDSN	B	-0.06%
PFG	D	-0.05%
HXL	D	-0.05%
BIIB	F	-0.04%
PAYC	B	-0.03%
AEE	A	-0.02%
CNA	B	-0.0%