VBR vs. JVAL ETF Comparison

Comparison of Vanguard Small-Cap Value ETF - DNQ (VBR) to JPMorgan U.S. Value Factor ETF (JVAL)

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

$207.03

Average Daily Volume

431,704

Number of Holdings ^*

797

* may have additional holdings in another (foreign) market

JVAL

JPMorgan U.S. Value Factor ETF

JVAL Description

The investment seeks investment results that closely correspond, before fees and expenses, to the performance of the JP Morgan US Value Factor Index. The fund will invest at least 80% of its assets in securities included in the underlying index. Assets means net assets, plus the amount of borrowing for investment purposes. The underlying index is comprised of U.S. equity securities selected to represent value factor characteristics.

Grade (RS Rating)

Last Trade

$44.04

Average Daily Volume

61,206

Number of Holdings ^*

362

* may have additional holdings in another (foreign) market

Performance

Period	VBR	JVAL
30 Days	1.03%	-0.01%
60 Days	5.45%	3.58%
90 Days	8.32%	5.64%
12 Months	30.83%	27.22%

174 Overlapping Holdings

Symbol	Grade	Weight in VBR	Weight in JVAL	Overlap
AAP	D	0.07%	0.1%	0.07%
ACI	C	0.17%	0.17%	0.17%
ADTN	A	0.08%	0.11%	0.08%
AGCO	D	0.18%	0.17%	0.17%
AGNC	C	0.24%	0.11%	0.11%
AGO	A	0.11%	0.19%	0.11%
AL	A	0.13%	0.05%	0.05%
ALLY	C	0.28%	0.21%	0.21%
ALSN	B	0.24%	0.29%	0.24%
AMKR	F	0.1%	0.07%	0.07%
AN	D	0.17%	0.2%	0.17%
ARMK	C	0.29%	0.13%	0.13%
ARW	D	0.2%	0.19%	0.19%
AVT	C	0.14%	0.21%	0.14%
AXS	A	0.17%	0.16%	0.16%
AYI	A	0.24%	0.2%	0.2%
BBWI	C	0.2%	0.12%	0.12%
BC	D	0.16%	0.21%	0.16%
BEN	C	0.09%	0.14%	0.09%
BERY	D	0.21%	0.19%	0.19%
BG	D	0.39%	0.14%	0.14%
BLDR	D	0.65%	0.25%	0.25%
BOKF	A	0.07%	0.09%	0.07%
BPOP	C	0.21%	0.21%	0.21%
BRX	A	0.24%	0.01%	0.01%
BWA	A	0.24%	0.16%	0.16%
BYD	A	0.06%	0.18%	0.06%
CACI	C	0.32%	0.26%	0.26%
CCK	D	0.33%	0.22%	0.22%
CLF	F	0.17%	0.02%	0.02%
CMA	A	0.23%	0.23%	0.23%
CNXC	F	0.08%	0.11%	0.08%
COLB	A	0.16%	0.19%	0.16%
COLM	B	0.04%	0.1%	0.04%
CPRI	F	0.14%	0.01%	0.01%
CRI	D	0.06%	0.15%	0.06%
CRUS	F	0.19%	0.16%	0.16%
CUZ	B	0.13%	0.11%	0.11%
CWEN	D	0.03%	0.1%	0.03%
CWEN	D	0.07%	0.1%	0.07%
CXT	D	0.08%	0.14%	0.08%
DDS	B	0.05%	0.1%	0.05%
DINO	D	0.21%	0.16%	0.16%
DKS	D	0.24%	0.21%	0.21%
DNB	B	0.11%	0.21%	0.11%
DXC	C	0.11%	0.16%	0.11%
EHC	B	0.28%	0.15%	0.15%
EPAM	B	0.31%	0.27%	0.27%
EPR	D	0.11%	0.18%	0.11%
EVRG	A	0.19%	0.24%	0.19%
FAF	C	0.19%	0.19%	0.19%
FBIN	D	0.32%	0.12%	0.12%
FFIV	B	0.37%	0.27%	0.27%
FHB	A	0.09%	0.13%	0.09%
FHN	A	0.24%	0.19%	0.19%
FMC	F	0.24%	0.12%	0.12%
FNB	A	0.15%	0.21%	0.15%
FTRE	D	0.05%	0.07%	0.05%
G	A	0.2%	0.14%	0.14%
GAP	C	0.15%	0.19%	0.15%
GLPI	D	0.39%	0.13%	0.13%
GPK	D	0.26%	0.21%	0.21%
GTES	B	0.12%	0.13%	0.12%
HII	F	0.3%	0.16%	0.16%
HIW	D	0.1%	0.2%	0.1%
HOG	D	0.13%	0.17%	0.13%
HRB	D	0.26%	0.2%	0.2%
HSIC	D	0.27%	0.06%	0.06%
HUN	F	0.11%	0.03%	0.03%
IAC	D	0.11%	0.1%	0.1%
INFA	F	0.06%	0.11%	0.06%
INGR	B	0.26%	0.15%	0.15%
IPG	F	0.34%	0.17%	0.17%
IPGP	D	0.06%	0.14%	0.06%
IVZ	B	0.22%	0.18%	0.18%
JAZZ	A	0.19%	0.13%	0.13%
JBL	C	0.37%	0.29%	0.29%
JEF	A	0.26%	0.28%	0.26%
JHG	A	0.14%	0.2%	0.14%
JWN	A	0.08%	0.15%	0.08%
KBR	D	0.25%	0.24%	0.24%
KIM	A	0.45%	0.23%	0.23%
KRC	C	0.13%	0.15%	0.13%
KSS	F	0.06%	0.17%	0.06%
LAD	A	0.24%	0.24%	0.24%
LDOS	C	0.32%	0.32%	0.32%
LEA	F	0.18%	0.13%	0.13%
LEG	F	0.05%	0.11%	0.05%
LKQ	D	0.3%	0.16%	0.16%
LNC	A	0.15%	0.08%	0.08%
LPX	A	0.2%	0.12%	0.12%
M	C	0.12%	0.18%	0.12%
MAN	F	0.1%	0.17%	0.1%
MDU	D	0.15%	0.13%	0.13%
MGM	D	0.13%	0.18%	0.13%
MOS	D	0.25%	0.21%	0.21%
MPW	F	0.1%	0.09%	0.09%
MSM	C	0.11%	0.2%	0.11%
MTG	C	0.19%	0.2%	0.19%
MUSA	A	0.26%	0.16%	0.16%
NFG	A	0.16%	0.2%	0.16%
NNN	D	0.26%	0.1%	0.1%
NVT	B	0.34%	0.04%	0.04%
NWL	B	0.09%	0.12%	0.09%
NXST	D	0.15%	0.21%	0.15%
OC	A	0.44%	0.26%	0.26%
OGE	A	0.24%	0.23%	0.23%
OGN	F	0.14%	0.06%	0.06%
OHI	C	0.3%	0.22%	0.22%
OMF	A	0.16%	0.21%	0.16%
ORI	A	0.24%	0.23%	0.23%
OSK	C	0.19%	0.22%	0.19%
OVV	C	0.29%	0.19%	0.19%
OZK	A	0.13%	0.13%	0.13%
PAG	A	0.09%	0.18%	0.09%
PARA	C	0.16%	0.12%	0.12%
PB	A	0.19%	0.15%	0.15%
PII	F	0.13%	0.09%	0.09%
PINC	B	0.06%	0.11%	0.06%
PK	C	0.08%	0.14%	0.08%
PNR	A	0.47%	0.29%	0.29%
PNW	A	0.29%	0.22%	0.22%
POST	D	0.08%	0.12%	0.08%
PPC	B	0.05%	0.09%	0.05%
PR	C	0.12%	0.13%	0.12%
PRGO	C	0.1%	0.1%	0.1%
PSN	C	0.14%	0.15%	0.14%
PVH	C	0.16%	0.16%	0.16%
QRVO	F	0.28%	0.14%	0.14%
R	A	0.17%	0.26%	0.17%
REG	A	0.38%	0.12%	0.12%
RGA	A	0.41%	0.09%	0.09%
RHI	B	0.19%	0.19%	0.19%
RL	B	0.21%	0.22%	0.21%
RS	B	0.46%	0.26%	0.26%
SAIC	D	0.21%	0.23%	0.21%
SCI	B	0.31%	0.24%	0.24%
SEE	B	0.12%	0.09%	0.09%
SIRI	C	0.15%	0.1%	0.1%
SJM	F	0.35%	0.14%	0.14%
SLGN	B	0.12%	0.21%	0.12%
SNDR	B	0.03%	0.1%	0.03%
SNV	A	0.18%	0.23%	0.18%
SNX	D	0.22%	0.22%	0.22%
SOLV	C	0.28%	0.05%	0.05%
SON	D	0.15%	0.12%	0.12%
SPB	C	0.07%	0.1%	0.07%
ST	F	0.16%	0.18%	0.16%
STWD	D	0.19%	0.17%	0.17%
TAP	A	0.29%	0.25%	0.25%
TDC	F	0.08%	0.11%	0.08%
TFX	F	0.34%	0.07%	0.07%
THC	C	0.46%	0.21%	0.21%
THO	B	0.16%	0.19%	0.16%
TNL	A	0.09%	0.19%	0.09%
TOL	B	0.46%	0.25%	0.25%
TPR	A	0.31%	0.24%	0.24%
UGI	C	0.15%	0.2%	0.15%
UHAL	D	0.2%	0.04%	0.04%
UHAL	D	0.02%	0.04%	0.02%
UHS	D	0.37%	0.2%	0.2%
UNM	A	0.25%	0.28%	0.25%
UTHR	B	0.46%	0.26%	0.26%
VAC	B	0.07%	0.2%	0.07%
VFC	B	0.22%	0.08%	0.08%
VOYA	A	0.22%	0.1%	0.1%
WAL	A	0.26%	0.22%	0.22%
WBS	A	0.23%	0.17%	0.17%
WCC	A	0.24%	0.27%	0.24%
WEN	C	0.09%	0.14%	0.09%
WHR	A	0.17%	0.2%	0.17%
WSM	F	0.45%	0.21%	0.21%
WU	F	0.12%	0.16%	0.12%
ZION	A	0.2%	0.19%	0.19%

VBR Overweight 623 Positions Relative to JVAL

Symbol	Grade	Weight
SW	A	0.74%
BAH	D	0.61%
CSL	B	0.6%
ATO	A	0.58%
EME	B	0.58%
FCNCA	A	0.57%
NRG	B	0.54%
IEX	B	0.47%
RPM	A	0.45%
USFD	B	0.43%
RNR	D	0.41%
AES	F	0.41%
ACM	B	0.4%
EQH	B	0.39%
EMN	C	0.38%
CPT	D	0.38%
ALLE	D	0.37%
JLL	C	0.37%
JNPR	D	0.37%
TTEK	D	0.36%
KMX	B	0.35%
PFGC	B	0.35%
ITT	A	0.35%
CHRW	A	0.35%
BXP	D	0.33%
EWBC	A	0.33%
HUBB	B	0.33%
BJ	B	0.32%
RRX	B	0.32%
SFM	A	0.32%
ATR	B	0.31%
AIZ	A	0.3%
AA	A	0.29%
CG	B	0.29%
AFG	A	0.29%
HAS	D	0.28%
FRT	B	0.28%
Z	A	0.28%
EVR	A	0.27%
STLD	B	0.27%
WTRG	C	0.27%
GL	B	0.27%
DCI	B	0.26%
PRI	A	0.26%
APA	F	0.26%
EGP	D	0.26%
SF	A	0.26%
AIT	A	0.25%
MHK	D	0.25%
NYT	D	0.25%
GME	C	0.25%
FYBR	C	0.25%
APG	C	0.24%
FCN	F	0.24%
FLR	B	0.24%
KNX	B	0.24%
MLI	B	0.24%
SWN	C	0.23%
AXTA	A	0.23%
DOC	D	0.23%
CHRD	F	0.23%
SEIC	A	0.23%
MIDD	D	0.22%
ADC	A	0.22%
UFPI	C	0.22%
DTM	A	0.22%
CR	A	0.22%
NI	A	0.22%
STAG	D	0.21%
VNO	B	0.21%
ANF	C	0.21%
X	D	0.21%
WTFC	A	0.21%
LUMN	C	0.21%
ELAN	C	0.21%
MKSI	D	0.21%
AAL	B	0.21%
FR	D	0.21%
SSB	A	0.21%
MTH	D	0.21%
FLS	A	0.2%
COHR	B	0.2%
JXN	B	0.2%
DVA	C	0.2%
CBSH	A	0.2%
TMHC	B	0.2%
NSIT	F	0.2%
RRC	B	0.2%
KEX	A	0.2%
CFR	A	0.19%
MAT	C	0.19%
BIO	C	0.19%
ESNT	D	0.19%
MSA	D	0.19%
RLI	A	0.19%
ESAB	B	0.18%
CBT	C	0.18%
CMC	B	0.18%
MOG.A	B	0.17%
CADE	A	0.17%
VMI	B	0.17%
LAMR	D	0.17%
ESI	B	0.17%
XPO	B	0.17%
ONB	B	0.17%
VVV	B	0.16%
KBH	D	0.16%
XRAY	F	0.16%
BCC	B	0.16%
IDA	A	0.16%
AUR	D	0.16%
ALB	C	0.16%
ACHC	F	0.16%
OLN	F	0.16%
COOP	B	0.16%
SRCL	B	0.16%
SIGI	A	0.16%
WTS	A	0.16%
ALK	A	0.16%
AMG	A	0.15%
KNF	B	0.15%
AM	A	0.15%
GBCI	A	0.15%
VNT	C	0.15%
RDN	C	0.15%
KD	A	0.15%
TKR	F	0.15%
BECN	B	0.15%
TPG	B	0.14%
GATX	A	0.14%
ABG	A	0.14%
RIVN	F	0.14%
PIPR	A	0.14%
BDC	B	0.14%
MATX	B	0.14%
RYN	D	0.14%
THG	A	0.14%
SUM	B	0.14%
MUR	F	0.14%
BCO	F	0.14%
HOMB	A	0.14%
GPI	A	0.14%
ZWS	B	0.14%
POR	D	0.14%
SLM	A	0.14%
UBSI	A	0.14%
LYFT	B	0.13%
UMBF	A	0.13%
ITGR	B	0.13%
SBRA	C	0.13%
SIG	B	0.13%
FLO	D	0.13%
NUVL	D	0.13%
HWC	A	0.13%
SWX	A	0.13%
FFIN	A	0.13%
NCLH	B	0.13%
SLG	B	0.13%
KTB	A	0.13%
AVNT	A	0.13%
ACA	B	0.13%
CNX	A	0.13%
NJR	A	0.13%
HASI	F	0.12%
TPH	D	0.12%
ASH	F	0.12%
ABCB	A	0.12%
ENS	D	0.12%
WTM	A	0.12%
ASO	F	0.12%
OGS	A	0.12%
ICUI	D	0.12%
CRC	B	0.12%
AR	B	0.12%
BKH	A	0.12%
FUL	F	0.12%
ESGR	B	0.11%
NHI	D	0.11%
SR	A	0.11%
SMG	D	0.11%
ALE	A	0.11%
PLXS	B	0.11%
KMPR	A	0.11%
MTZ	B	0.11%
MDGL	C	0.11%
VLY	A	0.11%
KFY	B	0.11%
MAC	A	0.11%
EDR	A	0.11%
PNM	B	0.11%
AEO	F	0.11%
ASGN	D	0.11%
HL	D	0.11%
TCBI	A	0.1%
MGEE	A	0.1%
RUSHA	B	0.1%
ABM	B	0.1%
ESE	A	0.1%
HCC	B	0.1%
IBOC	A	0.1%
TEX	D	0.1%
AUB	A	0.1%
NVST	C	0.1%
AX	A	0.1%
SXT	C	0.1%
NPO	A	0.1%
CDP	C	0.1%
GVA	A	0.1%
UCB	A	0.1%
FBP	A	0.1%
NWE	C	0.1%
CNO	A	0.1%
SANM	B	0.1%
PCH	D	0.1%
GMS	A	0.1%
BNL	D	0.1%
PBH	A	0.1%
PNFP	A	0.1%
SEM	B	0.1%
SKT	A	0.1%
WD	D	0.1%
GNW	A	0.09%
SATS	D	0.09%
PRIM	A	0.09%
ALIT	C	0.09%
NSP	F	0.09%
UNF	A	0.09%
PTEN	D	0.09%
WSFS	A	0.09%
APAM	A	0.09%
CC	C	0.09%
ATKR	C	0.09%
AVA	C	0.09%
CBU	A	0.09%
SYNA	C	0.09%
ASB	A	0.09%
COMP	B	0.09%
WBA	F	0.09%
GFF	A	0.09%
AWR	A	0.09%
CWK	B	0.09%
AMED	F	0.09%
BTU	B	0.09%
EBC	A	0.09%
BRC	C	0.09%
APLE	B	0.09%
SKYW	A	0.09%
AROC	A	0.09%
COTY	F	0.09%
EAT	A	0.09%
OTTR	C	0.09%
BGC	B	0.09%
FULT	A	0.09%
TGNA	B	0.08%
HUBG	A	0.08%
GHC	A	0.08%
URBN	C	0.08%
ATGE	B	0.08%
BKU	A	0.08%
DY	C	0.08%
BHF	A	0.08%
AIN	C	0.08%
ABR	C	0.08%
REZI	A	0.08%
LXP	D	0.08%
IOSP	C	0.08%
WAFD	A	0.08%
TRN	A	0.08%
PENN	B	0.08%
PRGS	B	0.08%
WLK	F	0.08%
PBF	D	0.08%
PFSI	D	0.08%
DEI	B	0.08%
CATY	A	0.08%
FHI	A	0.08%
WERN	B	0.07%
ENR	A	0.07%
SM	C	0.07%
FFBC	A	0.07%
PFS	A	0.07%
PECO	A	0.07%
HAYW	A	0.07%
MTRN	C	0.07%
AZZ	B	0.07%
VSH	F	0.07%
BFH	A	0.07%
CVBF	A	0.07%
ARCH	B	0.07%
SMMT	D	0.07%
INDB	A	0.07%
ENOV	C	0.07%
HNI	A	0.07%
PPBI	A	0.07%
PRK	A	0.07%
FL	F	0.07%
DBRG	D	0.07%
HBI	A	0.07%
OSIS	A	0.07%
RNG	B	0.07%
AKR	B	0.07%
CDE	D	0.07%
MTX	B	0.07%
BOH	A	0.07%
GT	C	0.07%
VIRT	A	0.07%
RNA	C	0.07%
ARCB	C	0.07%
IOVA	D	0.07%
FIBK	A	0.07%
SFNC	B	0.07%
MGRC	B	0.07%
OUT	C	0.07%
BXMT	D	0.07%
UE	B	0.07%
PHIN	A	0.06%
BANF	A	0.06%
RXO	C	0.06%
HURN	B	0.06%
GNL	D	0.06%
PRG	A	0.06%
HI	C	0.06%
VSTS	F	0.06%
NMRK	B	0.06%
THS	F	0.06%
RNST	A	0.06%
WLY	B	0.06%
VYX	C	0.06%
SFBS	A	0.06%
JOBY	B	0.06%
NBTB	A	0.06%
VGR	B	0.06%
VIAV	B	0.06%
OMCL	C	0.06%
VSCO	A	0.06%
KMT	B	0.06%
CGON	D	0.06%
LAUR	A	0.06%
EQC	A	0.06%
IBTX	A	0.06%
OI	C	0.06%
IVT	B	0.06%
BANR	A	0.06%
NATL	B	0.06%
FRME	A	0.06%
OFG	B	0.06%
TDS	B	0.06%
SHO	D	0.06%
STRA	C	0.06%
SXI	A	0.06%
TOWN	A	0.06%
EVTC	C	0.06%
ZD	B	0.06%
ZG	A	0.06%
BLKB	D	0.06%
AIR	B	0.06%
MHO	D	0.06%
MIR	A	0.06%
PSMT	D	0.06%
AZTA	F	0.06%
VRNT	D	0.05%
CABO	B	0.05%
UPBD	B	0.05%
HLIO	B	0.05%
HE	D	0.05%
LTC	B	0.05%
NBHC	A	0.05%
CENTA	C	0.05%
AMN	F	0.05%
CRGY	A	0.05%
ANDE	C	0.05%
SUPN	B	0.05%
REYN	D	0.05%
STEP	A	0.05%
CHCO	A	0.05%
NHC	B	0.05%
SCL	D	0.05%
FCF	A	0.05%
NPAB	F	0.05%
WSBC	A	0.05%
UAA	B	0.05%
SHOO	D	0.05%
NWBI	A	0.05%
GEO	A	0.05%
DRH	B	0.05%
MLKN	F	0.05%
PDCO	F	0.05%
TROX	F	0.05%
WKC	C	0.05%
LGND	B	0.05%
MCY	A	0.05%
TRMK	A	0.05%
LRN	A	0.05%
PZZA	D	0.05%
TTMI	B	0.05%
GOLF	A	0.05%
EPC	F	0.05%
LZB	A	0.05%
KAR	A	0.05%
B	A	0.05%
CAKE	A	0.05%
IMVT	D	0.05%
ROIC	A	0.05%
PBI	C	0.04%
AIV	C	0.04%
INSW	F	0.04%
AAT	C	0.04%
PMT	D	0.04%
UVV	B	0.04%
WOR	F	0.04%
PDM	D	0.04%
WABC	A	0.04%
JELD	F	0.04%
ARI	D	0.04%
BKD	F	0.04%
OXM	F	0.04%
NNI	C	0.04%
UNIT	B	0.04%
NX	C	0.04%
VC	F	0.04%
LADR	A	0.04%
VCTR	B	0.04%
WWW	A	0.04%
CXW	B	0.04%
BKE	A	0.04%
SPNT	A	0.04%
HP	C	0.04%
VSAT	F	0.04%
CSGS	A	0.04%
WT	A	0.04%
DNOW	A	0.04%
DAN	F	0.04%
RRR	D	0.04%
REVG	A	0.04%
SBH	A	0.04%
ALEX	B	0.04%
VRE	A	0.04%
BLMN	F	0.04%
CAR	C	0.04%
VRTS	A	0.04%
HELE	C	0.04%
NGVT	B	0.04%
CODI	A	0.04%
HMN	A	0.04%
HOPE	A	0.04%
ESRT	D	0.04%
LCII	D	0.04%
HTH	B	0.04%
NTCT	B	0.04%
GBX	A	0.04%
HEES	B	0.04%
JBGS	D	0.04%
KN	B	0.04%
BHE	B	0.04%
STBA	A	0.04%
CNK	A	0.04%
DYN	F	0.04%
GEF	A	0.04%
APOG	B	0.04%
GO	C	0.04%
ELME	D	0.04%
GTY	C	0.04%
NWN	A	0.04%
USM	B	0.03%
MATV	F	0.03%
SMR	B	0.03%
CMTG	D	0.03%
JACK	D	0.03%
BDN	D	0.03%
BV	C	0.03%
LGF.A	F	0.03%
DNUT	D	0.03%
MMI	A	0.03%
ODP	F	0.03%
UNFI	A	0.03%
JBLU	C	0.03%
TRS	D	0.03%
MD	B	0.03%
CBRL	C	0.03%
THR	C	0.03%
FA	D	0.03%
ATSG	A	0.03%
RWT	D	0.03%
INVA	C	0.03%
VSTO	A	0.03%
LEVI	F	0.03%
MRC	B	0.03%
HTLF	A	0.03%
SCSC	B	0.03%
CARS	B	0.03%
UA	B	0.03%
ECPG	A	0.03%
FBRT	C	0.03%
CNNE	B	0.03%
CSR	A	0.03%
ETWO	F	0.03%
AVNS	F	0.03%
KALU	C	0.03%
WMK	B	0.03%
WS	B	0.03%
KFRC	D	0.03%
ACT	C	0.03%
KWR	C	0.03%
FDP	A	0.03%
SCS	A	0.03%
XRX	F	0.03%
OMI	F	0.03%
DK	D	0.03%
SAFT	A	0.03%
BHLB	A	0.03%
AMRX	C	0.03%
GIII	D	0.03%
MYGN	F	0.03%
EIG	A	0.03%
NAVI	D	0.03%
MSGE	D	0.03%
IART	C	0.03%
LC	B	0.03%
TILE	A	0.02%
HTLD	B	0.02%
ATUS	C	0.02%
MXL	C	0.02%
CAL	D	0.02%
FOR	F	0.02%
GES	F	0.02%
BMBL	C	0.02%
BASE	C	0.02%
SCHL	F	0.02%
CMPR	F	0.02%
HY	F	0.02%
KELYA	F	0.02%
CFFN	A	0.02%
PCRX	C	0.02%
SWI	B	0.02%
TMP	A	0.02%
BGS	F	0.02%
MATW	C	0.02%
HPP	F	0.02%
PUMP	F	0.02%
HLF	C	0.02%
AXL	C	0.02%
RGR	F	0.02%
KOP	C	0.02%
ECVT	C	0.02%
AMWD	B	0.02%
KREF	D	0.02%
ASTE	B	0.02%
BRSP	B	0.02%
PRLB	B	0.02%
XHR	B	0.02%
SVC	F	0.02%
MODG	F	0.02%
SEB	F	0.02%
PRA	A	0.02%
SAH	A	0.02%
HAIN	F	0.02%
WNC	C	0.02%
CVI	D	0.02%
EMBC	C	0.02%
HCSG	B	0.02%
MNRO	B	0.02%
PRAA	C	0.02%
FG	A	0.02%
BRKL	A	0.02%
EYE	C	0.02%
DLX	A	0.02%
RBRK	B	0.02%
NUS	C	0.01%
LDI	C	0.01%
BRCC	F	0.01%
OPK	A	0.01%
TWKS	B	0.01%
DJT	C	0.01%
DIN	C	0.01%
OLPX	D	0.01%
VREX	C	0.01%
CENT	C	0.01%
TGI	A	0.01%
ALX	D	0.01%
CMP	B	0.01%
AMBC	C	0.01%
TRTX	B	0.01%
SWBI	D	0.01%
KRO	D	0.01%
SRCL	B	0.01%
ZIP	D	0.01%
NAPA	A	0.01%
CNDT	B	0.01%
CRCT	F	0.01%
WOOF	D	0.01%
EGBN	A	0.01%
RUSHB	B	0.01%
WRLD	D	0.01%
HTZ	C	0.01%
INN	D	0.01%
VMEO	B	0.01%
BJRI	A	0.01%
EE	A	0.01%
RMR	F	0.01%
GRC	B	0.01%
PTVE	C	0.01%
NVRI	F	0.01%
FWRD	D	0.01%
NABL	F	0.01%
USNA	C	0.01%
CLB	C	0.01%
SSTK	F	0.01%
CLBK	B	0.01%
CCO	D	0.01%
ARRY	C	0.01%
GCMG	B	0.01%
LGF.A	F	0.01%
CWH	B	0.01%
BFS	C	0.01%
DAWN	D	0.01%
PWSC	C	0.0%
SCWX	B	0.0%
AC	B	0.0%
AMCX	C	0.0%
TASK	C	0.0%
ACDC	D	0.0%
LESL	C	0.0%
GEF	A	0.0%

VBR Underweight 190 Positions Relative to JVAL

Symbol	Grade	Weight
GOOGL	B	-2.17%
META	C	-2.12%
AVGO	C	-1.92%
AAPL	C	-1.87%
MSFT	D	-1.78%
UNH	B	-1.77%
CRM	A	-1.33%
ORCL	A	-1.24%
JNJ	D	-1.22%
APP	A	-0.87%
CAT	B	-0.85%
IBM	D	-0.84%
TXN	C	-0.82%
HD	A	-0.82%
INTU	A	-0.81%
QCOM	F	-0.79%
CSCO	B	-0.77%
CVX	A	-0.74%
AMAT	F	-0.7%
MRK	F	-0.66%
AMGN	D	-0.65%
C	A	-0.65%
PFE	F	-0.65%
T	A	-0.65%
INTC	C	-0.6%
ADI	D	-0.54%
GILD	B	-0.52%
PM	A	-0.52%
BMY	B	-0.51%
APH	B	-0.51%
LRCX	F	-0.51%
MDT	D	-0.51%
MO	A	-0.5%
CMCSA	B	-0.49%
COF	A	-0.48%
RTX	D	-0.48%
MRVL	B	-0.48%
CI	D	-0.47%
KLAC	F	-0.46%
ELV	F	-0.45%
BAC	A	-0.45%
GM	A	-0.44%
VRT	A	-0.43%
USB	B	-0.42%
MU	D	-0.42%
JCI	A	-0.42%
TFC	A	-0.41%
FDX	A	-0.41%
CMI	A	-0.4%
ROP	C	-0.4%
CVS	F	-0.4%
BK	A	-0.4%
PCAR	B	-0.39%
KMI	A	-0.39%
GD	D	-0.38%
PSX	C	-0.37%
TWLO	A	-0.37%
MPC	D	-0.36%
AIG	B	-0.36%
DELL	C	-0.36%
PRU	A	-0.35%
SYF	A	-0.34%
F	C	-0.34%
TGT	D	-0.34%
GRMN	B	-0.33%
ETR	A	-0.33%
GLW	B	-0.33%
CTSH	B	-0.33%
FITB	A	-0.32%
DHI	D	-0.32%
KR	B	-0.32%
HPQ	B	-0.32%
GDDY	A	-0.32%
SPG	A	-0.32%
HPE	B	-0.32%
PAYC	B	-0.31%
NUE	D	-0.31%
SNA	A	-0.31%
DD	D	-0.31%
ZM	B	-0.31%
LHX	B	-0.31%
EBAY	D	-0.3%
DOV	A	-0.3%
HBAN	A	-0.3%
LEN	D	-0.3%
PKG	B	-0.29%
WDAY	B	-0.29%
STT	A	-0.29%
VICI	C	-0.28%
CFG	A	-0.28%
ED	D	-0.28%
MCHP	F	-0.28%
ON	F	-0.28%
PHM	D	-0.27%
MTB	A	-0.27%
UAL	A	-0.27%
PPL	A	-0.27%
NTAP	D	-0.27%
DAL	A	-0.27%
GEN	B	-0.27%
IP	A	-0.26%
KHC	F	-0.26%
GIS	D	-0.26%
RF	A	-0.26%
PFG	C	-0.25%
FOXA	A	-0.25%
MRO	A	-0.25%
DGX	A	-0.25%
OMC	C	-0.25%
PEGA	B	-0.25%
VLO	C	-0.24%
CTRA	A	-0.24%
ADM	D	-0.24%
VTRS	A	-0.24%
CDW	F	-0.24%
SSNC	D	-0.24%
DBX	C	-0.24%
DRI	B	-0.23%
NWSA	B	-0.23%
LYB	F	-0.23%
BBY	C	-0.23%
AMCR	C	-0.22%
TER	F	-0.22%
KEY	A	-0.22%
DOW	F	-0.22%
DOX	D	-0.22%
GFS	C	-0.21%
EXC	C	-0.21%
DLB	D	-0.21%
ZI	D	-0.21%
AKAM	F	-0.21%
VZ	C	-0.2%
CAG	F	-0.2%
SWKS	F	-0.2%
NVR	D	-0.2%
CNC	F	-0.2%
TXT	D	-0.19%
GPN	B	-0.19%
GPC	D	-0.19%
ANSS	B	-0.19%
DOCU	A	-0.19%
OLED	F	-0.19%
HUM	F	-0.19%
PTC	B	-0.18%
CRBG	B	-0.18%
GNTX	C	-0.18%
CNH	D	-0.18%
MTCH	F	-0.18%
CPB	D	-0.17%
ZBH	C	-0.17%
DV	C	-0.17%
LH	B	-0.16%
GLOB	C	-0.16%
LVS	C	-0.15%
PH	A	-0.15%
VRSN	D	-0.14%
FIS	B	-0.14%
DG	F	-0.14%
CLVT	F	-0.14%
HST	D	-0.14%
RVTY	D	-0.14%
PATH	D	-0.13%
PNC	A	-0.13%
OKTA	D	-0.13%
BAX	F	-0.13%
DVN	F	-0.13%
POOL	D	-0.13%
WH	A	-0.13%
WPC	D	-0.12%
U	F	-0.12%
ENTG	F	-0.12%
SWK	F	-0.12%
APTV	F	-0.12%
CROX	F	-0.11%
BSY	D	-0.11%
RPRX	F	-0.11%
TSN	A	-0.1%
CIVI	F	-0.1%
AGR	A	-0.1%
HRL	D	-0.1%
D	C	-0.09%
MTN	C	-0.08%
DT	C	-0.06%
CF	A	-0.06%
BDX	F	-0.06%
FANG	D	-0.06%
EQR	C	-0.04%
CE	F	-0.04%
ALGM	F	-0.0%
LOPE	B	-0.0%