VBR vs. SSLY ETF Comparison

Comparison of Vanguard Small-Cap Value ETF - DNQ (VBR) to Syntax Stratified SmallCap ETF (SSLY)

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

$200.47

Average Daily Volume

402,248

Number of Holdings ^*

795

* may have additional holdings in another (foreign) market

SSLY

Syntax Stratified SmallCap ETF

SSLY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies in the Syntax Stratified SmallCap Index. Under normal market conditions, the fund generally invests substantially all, and at least 80% of its total assets in the securities comprising the index. The index is the Stratified WeightTM version of the widely used S&P SmallCap 600® Index and holds the same constituents as the S&P SmallCap 600® Index.

Grade (RS Rating)

Last Trade

$45.95

Average Daily Volume

2,767

Number of Holdings ^*

576

* may have additional holdings in another (foreign) market

Performance

Period	VBR	SSLY
30 Days	2.57%	-1.07%
60 Days	2.52%	-2.25%
90 Days	10.32%	6.39%
12 Months	27.97%	14.33%

325 Overlapping Holdings

Symbol	Grade	Weight in VBR	Weight in SSLY	Overlap
AAP	F	0.08%	0.07%	0.07%
AAT	C	0.04%	0.08%	0.04%
ABCB	C	0.12%	0.02%	0.02%
ABG	D	0.15%	0.1%	0.1%
ABM	D	0.11%	0.11%	0.11%
ABR	B	0.07%	0.02%	0.02%
ACA	B	0.13%	0.15%	0.13%
AEO	D	0.11%	0.11%	0.11%
AGO	D	0.12%	0.28%	0.12%
AIN	F	0.09%	0.16%	0.09%
AIR	D	0.07%	0.09%	0.07%
AKR	B	0.07%	0.07%	0.07%
AL	C	0.14%	0.09%	0.09%
ALEX	C	0.04%	0.07%	0.04%
ALK	B	0.13%	0.22%	0.13%
AMBC	F	0.01%	0.1%	0.01%
AMCX	F	0.01%	0.26%	0.01%
AMN	F	0.06%	0.04%	0.04%
AMWD	C	0.02%	0.09%	0.02%
ANDE	D	0.05%	0.19%	0.05%
APAM	C	0.08%	0.34%	0.08%
APLE	C	0.09%	0.07%	0.07%
APOG	B	0.04%	0.07%	0.04%
ARCB	D	0.07%	0.07%	0.07%
ARCH	D	0.07%	0.05%	0.05%
ARI	F	0.04%	0.01%	0.01%
AROC	D	0.09%	0.08%	0.08%
ASO	D	0.12%	0.25%	0.12%
ASTE	F	0.02%	0.1%	0.02%
ATGE	C	0.08%	0.17%	0.08%
AUB	D	0.1%	0.02%	0.02%
AVA	B	0.09%	0.28%	0.09%
AVNS	C	0.03%	0.12%	0.03%
AWR	C	0.09%	0.29%	0.09%
AX	D	0.1%	0.11%	0.1%
AXL	F	0.02%	0.16%	0.02%
AZZ	C	0.07%	0.07%	0.07%
B	C	0.06%	0.06%	0.06%
BANF	C	0.06%	0.02%	0.02%
BANR	C	0.06%	0.02%	0.02%
BCC	C	0.16%	0.1%	0.1%
BDN	C	0.03%	0.08%	0.03%
BFS	B	0.01%	0.06%	0.01%
BGC	D	0.11%	0.19%	0.11%
BGS	D	0.02%	0.11%	0.02%
BHE	C	0.04%	0.27%	0.04%
BHLB	C	0.04%	0.02%	0.02%
BJRI	D	0.01%	0.11%	0.01%
BKE	B	0.04%	0.33%	0.04%
BKU	D	0.08%	0.02%	0.02%
BLMN	F	0.04%	0.1%	0.04%
BOH	D	0.08%	0.1%	0.08%
BRC	B	0.09%	0.13%	0.09%
BRKL	C	0.03%	0.02%	0.02%
BTU	C	0.08%	0.07%	0.07%
BXMT	C	0.07%	0.02%	0.02%
CABO	F	0.02%	0.22%	0.02%
CAKE	B	0.05%	0.12%	0.05%
CAL	F	0.02%	0.13%	0.02%
CARS	F	0.03%	0.19%	0.03%
CATY	C	0.09%	0.02%	0.02%
CBRL	D	0.03%	0.11%	0.03%
CBU	D	0.09%	0.18%	0.09%
CENT	F	0.01%	0.05%	0.01%
CENTA	F	0.05%	0.05%	0.05%
CFFN	D	0.02%	0.1%	0.02%
CHCO	D	0.05%	0.1%	0.05%
CLB	D	0.01%	0.07%	0.01%
CMA	C	0.22%	0.17%	0.17%
CMP	D	0.01%	0.06%	0.01%
CNK	C	0.09%	0.81%	0.09%
COOP	C	0.17%	0.2%	0.17%
CRC	C	0.11%	0.17%	0.11%
CSGS	C	0.04%	0.18%	0.04%
CSR	D	0.03%	0.07%	0.03%
CTRE	C	0.06%	0.44%	0.06%
CVBF	D	0.07%	0.02%	0.02%
CVI	F	0.03%	0.23%	0.03%
CWEN	A	0.07%	0.14%	0.07%
CWEN	A	0.03%	0.14%	0.03%
CWEN	A	0.07%	0.14%	0.07%
CWEN	A	0.03%	0.14%	0.03%
CWK	B	0.08%	0.2%	0.08%
CXW	F	0.04%	0.09%	0.04%
DAN	D	0.04%	0.15%	0.04%
DBI	F	0.0%	0.13%	0.0%
DEI	B	0.08%	0.09%	0.08%
DIN	D	0.01%	0.09%	0.01%
DLX	F	0.03%	0.24%	0.03%
DNOW	F	0.04%	0.07%	0.04%
DRH	C	0.05%	0.07%	0.05%
DXC	D	0.11%	0.41%	0.11%
DY	C	0.07%	0.15%	0.07%
EAT	C	0.09%	0.13%	0.09%
ECPG	D	0.03%	0.13%	0.03%
EGBN	D	0.01%	0.02%	0.01%
EIG	C	0.04%	0.31%	0.04%
EMBC	D	0.03%	0.85%	0.03%
ENR	D	0.07%	0.23%	0.07%
EPC	F	0.06%	0.21%	0.06%
ESE	B	0.09%	0.13%	0.09%
EVTC	D	0.06%	0.16%	0.06%
EYE	F	0.02%	0.12%	0.02%
FBP	C	0.1%	0.13%	0.1%
FCF	D	0.05%	0.02%	0.02%
FDP	C	0.03%	0.24%	0.03%
FFBC	D	0.07%	0.02%	0.02%
FHB	D	0.09%	0.02%	0.02%
FL	F	0.09%	0.31%	0.09%
FTRE	F	0.06%	0.17%	0.06%
FUL	D	0.14%	0.05%	0.05%
FULT	D	0.1%	0.02%	0.02%
FWRD	D	0.01%	0.18%	0.01%
GBX	D	0.04%	0.1%	0.04%
GEO	F	0.05%	0.07%	0.05%
GES	F	0.02%	0.1%	0.02%
GFF	C	0.09%	0.35%	0.09%
GIII	D	0.03%	0.21%	0.03%
GMS	C	0.1%	0.09%	0.09%
GNL	D	0.06%	0.09%	0.06%
GNW	C	0.09%	0.31%	0.09%
GO	F	0.05%	0.26%	0.05%
GPI	B	0.14%	0.13%	0.13%
GTES	C	0.12%	0.09%	0.09%
GTY	C	0.05%	0.07%	0.05%
GVA	B	0.1%	0.17%	0.1%
HAIN	C	0.02%	0.11%	0.02%
HASI	C	0.11%	0.12%	0.11%
HAYW	C	0.06%	0.09%	0.06%
HBI	A	0.06%	0.25%	0.06%
HCC	D	0.09%	0.06%	0.06%
HCSG	D	0.02%	0.12%	0.02%
HI	F	0.07%	0.08%	0.07%
HIW	C	0.1%	0.09%	0.09%
HMN	C	0.04%	0.29%	0.04%
HNI	C	0.07%	0.11%	0.07%
HOPE	D	0.04%	0.02%	0.02%
HP	F	0.04%	0.07%	0.04%
HPP	F	0.02%	0.07%	0.02%
HTH	D	0.04%	0.02%	0.02%
HTLD	F	0.02%	0.07%	0.02%
HTZ	F	0.01%	0.12%	0.01%
HUBG	C	0.08%	0.11%	0.08%
IAC	C	0.11%	0.25%	0.11%
IART	F	0.04%	0.06%	0.04%
IBTX	C	0.06%	0.02%	0.02%
ICUI	C	0.11%	0.15%	0.11%
IDCC	B	0.05%	0.18%	0.05%
INDB	D	0.08%	0.02%	0.02%
INN	B	0.01%	0.08%	0.01%
INVA	C	0.03%	0.21%	0.03%
IOSP	F	0.08%	0.04%	0.04%
ITGR	C	0.13%	0.11%	0.11%
JACK	F	0.01%	0.23%	0.01%
JBGS	C	0.05%	0.09%	0.05%
JBLU	C	0.05%	0.24%	0.05%
JXN	B	0.2%	0.35%	0.2%
KALU	D	0.03%	0.12%	0.03%
KAR	D	0.06%	0.11%	0.06%
KELYA	D	0.02%	0.06%	0.02%
KFY	C	0.11%	0.07%	0.07%
KMT	B	0.06%	0.14%	0.06%
KN	D	0.05%	0.27%	0.05%
KOP	F	0.02%	0.11%	0.02%
KREF	C	0.02%	0.02%	0.02%
KRYS	D	0.07%	0.15%	0.07%
KSS	D	0.06%	0.14%	0.06%
KTB	B	0.12%	0.21%	0.12%
LEG	D	0.05%	0.11%	0.05%
LGND	D	0.05%	0.36%	0.05%
LNC	C	0.16%	0.11%	0.11%
LRN	B	0.05%	0.17%	0.05%
LTC	C	0.05%	0.12%	0.05%
LUMN	C	0.16%	1.37%	0.16%
LXP	C	0.09%	0.07%	0.07%
LZB	C	0.05%	0.11%	0.05%
MAC	B	0.1%	0.07%	0.07%
MATV	D	0.03%	0.16%	0.03%
MATW	F	0.02%	0.08%	0.02%
MATX	B	0.13%	0.08%	0.08%
MC	C	0.07%	0.12%	0.07%
MCY	C	0.05%	0.34%	0.05%
MD	C	0.03%	0.53%	0.03%
MGEE	C	0.09%	0.3%	0.09%
MLI	B	0.23%	0.35%	0.23%
MLKN	F	0.06%	0.09%	0.06%
MMI	C	0.03%	0.2%	0.03%
MNRO	C	0.02%	0.13%	0.02%
MOG.A	B	0.17%	0.17%	0.17%
MPW	C	0.08%	0.45%	0.08%
MTH	C	0.2%	0.2%	0.2%
MTRN	D	0.07%	0.06%	0.06%
MTX	D	0.07%	0.04%	0.04%
MXL	D	0.02%	0.39%	0.02%
MYGN	D	0.07%	0.1%	0.07%
NABL	F	0.01%	0.11%	0.01%
NATL	D	0.06%	0.16%	0.06%
NAVI	D	0.04%	0.12%	0.04%
NBHC	D	0.05%	0.16%	0.05%
NBTB	D	0.06%	0.02%	0.02%
NGVT	D	0.04%	0.04%	0.04%
NHC	D	0.05%	0.13%	0.05%
NPK	D	0.01%	0.22%	0.01%
NPO	C	0.1%	0.06%	0.06%
NSIT	C	0.21%	0.1%	0.1%
NTCT	C	0.04%	0.44%	0.04%
NUS	F	0.01%	0.12%	0.01%
NVRI	D	0.01%	0.08%	0.01%
NWBI	D	0.05%	0.11%	0.05%
NWL	C	0.08%	0.09%	0.08%
NWN	B	0.04%	0.28%	0.04%
NX	F	0.03%	0.07%	0.03%
ODP	F	0.03%	0.17%	0.03%
OFG	C	0.06%	0.17%	0.06%
OGN	D	0.17%	0.17%	0.17%
OI	D	0.06%	0.17%	0.06%
OMCL	C	0.06%	0.15%	0.06%
OMI	D	0.03%	0.23%	0.03%
OSIS	C	0.07%	0.12%	0.07%
OTTR	F	0.1%	0.23%	0.1%
OUT	B	0.07%	0.08%	0.07%
OXM	F	0.04%	0.1%	0.04%
PBH	C	0.11%	0.32%	0.11%
PBI	C	0.04%	0.15%	0.04%
PCRX	F	0.01%	0.09%	0.01%
PDCO	F	0.05%	0.26%	0.05%
PEB	D	0.02%	0.07%	0.02%
PECO	C	0.07%	0.07%	0.07%
PENN	D	0.08%	0.08%	0.08%
PFS	C	0.07%	0.02%	0.02%
PHIN	C	0.06%	0.13%	0.06%
PINC	D	0.06%	0.29%	0.06%
PIPR	B	0.13%	0.13%	0.13%
PLXS	B	0.1%	0.7%	0.1%
PMT	C	0.04%	0.05%	0.04%
PPBI	D	0.07%	0.02%	0.02%
PRA	C	0.02%	0.31%	0.02%
PRAA	F	0.03%	0.12%	0.03%
PRG	C	0.06%	0.15%	0.06%
PRGS	A	0.07%	0.14%	0.07%
PRK	D	0.08%	0.02%	0.02%
PRLB	F	0.02%	0.26%	0.02%
PSMT	B	0.06%	0.37%	0.06%
PTEN	F	0.11%	0.06%	0.06%
PUMP	F	0.02%	0.07%	0.02%
PZZA	D	0.02%	0.29%	0.02%
RDN	D	0.16%	0.13%	0.13%
REZI	D	0.08%	0.08%	0.08%
RGR	F	0.02%	0.27%	0.02%
RHI	D	0.18%	0.06%	0.06%
RNST	D	0.06%	0.02%	0.02%
ROIC	C	0.05%	0.07%	0.05%
RUSHA	C	0.1%	0.11%	0.1%
RWT	C	0.03%	0.06%	0.03%
RXO	D	0.1%	0.09%	0.09%
SAFT	D	0.04%	0.29%	0.04%
SAH	D	0.02%	0.11%	0.02%
SANM	D	0.11%	0.57%	0.11%
SATS	C	0.06%	0.52%	0.06%
SBH	B	0.04%	0.28%	0.04%
SCHL	D	0.02%	0.24%	0.02%
SCL	D	0.05%	0.04%	0.04%
SCSC	D	0.03%	0.1%	0.03%
SEE	C	0.15%	0.15%	0.15%
SEM	D	0.11%	0.38%	0.11%
SFBS	C	0.06%	0.02%	0.02%
SFNC	C	0.07%	0.02%	0.02%
SHO	C	0.06%	0.07%	0.06%
SHOO	B	0.05%	0.17%	0.05%
SIG	C	0.1%	0.18%	0.1%
SKT	B	0.1%	0.07%	0.07%
SKYW	C	0.09%	0.23%	0.09%
SLG	C	0.13%	0.09%	0.09%
SM	F	0.08%	0.14%	0.08%
SNDR	B	0.03%	0.07%	0.03%
SPNT	D	0.04%	0.32%	0.04%
STBA	D	0.05%	0.02%	0.02%
STEP	B	0.05%	0.42%	0.05%
STRA	F	0.06%	0.11%	0.06%
SUPN	D	0.05%	0.28%	0.05%
SVC	F	0.02%	0.07%	0.02%
SWI	B	0.02%	0.03%	0.02%
SXI	C	0.06%	0.36%	0.06%
SXT	B	0.1%	0.12%	0.1%
TDS	B	0.06%	0.42%	0.06%
TGI	F	0.01%	0.12%	0.01%
THS	C	0.06%	0.11%	0.06%
TILE	C	0.02%	0.09%	0.02%
TMP	D	0.02%	0.02%	0.02%
TPH	C	0.12%	0.18%	0.12%
TRMK	D	0.05%	0.02%	0.02%
TRN	C	0.08%	0.11%	0.08%
TTMI	D	0.06%	0.28%	0.06%
UCBI	B	0.11%	0.02%	0.02%
UE	C	0.07%	0.07%	0.07%
UFCS	D	0.01%	0.27%	0.01%
UHT	C	0.0%	0.09%	0.0%
UNF	B	0.08%	0.14%	0.08%
UNFI	B	0.03%	0.4%	0.03%
UNIT	C	0.03%	0.12%	0.03%
URBN	F	0.07%	0.24%	0.07%
USNA	F	0.01%	0.08%	0.01%
UVV	D	0.04%	0.41%	0.04%
VFC	B	0.19%	0.21%	0.19%
VGR	C	0.06%	0.51%	0.06%
VIAV	C	0.06%	0.19%	0.06%
VIRT	C	0.08%	0.21%	0.08%
VREX	F	0.01%	0.13%	0.01%
VRTS	F	0.04%	0.3%	0.04%
VSAT	F	0.05%	0.21%	0.05%
VSCO	C	0.05%	0.16%	0.05%
VSTO	C	0.03%	0.3%	0.03%
VSTS	D	0.05%	0.14%	0.05%
WABC	D	0.04%	0.02%	0.02%
WAFD	D	0.09%	0.12%	0.09%
WD	B	0.1%	0.22%	0.1%
WERN	C	0.07%	0.07%	0.07%
WNC	F	0.02%	0.09%	0.02%
WOR	F	0.04%	0.05%	0.04%
WRLD	D	0.01%	0.1%	0.01%
WS	D	0.04%	0.08%	0.04%
WSFS	D	0.1%	0.02%	0.02%
WWW	A	0.03%	0.2%	0.03%
XHR	B	0.02%	0.07%	0.02%
XRX	D	0.04%	0.12%	0.04%

VBR Overweight 472 Positions Relative to SSLY

Symbol	Grade	Weight
SW	B	0.72%
FCNCA	D	0.65%
BLDR	C	0.62%
BAH	B	0.6%
CSL	B	0.59%
ATO	B	0.54%
EME	B	0.54%
NRG	B	0.52%
THC	C	0.48%
RS	D	0.48%
UTHR	B	0.47%
IEX	C	0.46%
KIM	C	0.46%
RPM	B	0.44%
TOL	A	0.44%
RGA	C	0.43%
USFD	C	0.43%
OC	C	0.43%
PNR	B	0.43%
BG	F	0.42%
EQH	C	0.41%
RNR	B	0.4%
UHS	C	0.4%
ACM	B	0.4%
WSM	C	0.4%
KMX	D	0.39%
CPT	C	0.39%
GLPI	C	0.39%
REG	C	0.39%
JBL	C	0.37%
JNPR	A	0.37%
TTEK	C	0.37%
JLL	B	0.36%
ALLE	B	0.36%
IPG	C	0.36%
ALLY	F	0.35%
FFIV	B	0.35%
BRO	C	0.35%
EMN	B	0.35%
OVV	F	0.34%
ITT	B	0.34%
CHRW	B	0.34%
TFX	B	0.34%
PFGC	B	0.34%
EWBC	C	0.34%
HII	F	0.33%
RRX	C	0.33%
RIVN	F	0.33%
NVT	C	0.33%
HUBB	B	0.32%
SCI	C	0.32%
CACI	B	0.32%
CCK	B	0.32%
SFM	B	0.31%
APA	F	0.31%
BJ	D	0.31%
BXP	C	0.31%
LDOS	A	0.31%
ATR	B	0.3%
AIZ	B	0.3%
OHI	C	0.29%
PNW	C	0.29%
EHC	B	0.28%
CG	C	0.28%
TPR	A	0.28%
DKS	D	0.28%
FRT	C	0.28%
AFG	C	0.28%
TAP	D	0.28%
WTRG	D	0.28%
ARMK	B	0.28%
MUSA	D	0.28%
GL	D	0.28%
HSIC	C	0.27%
PRI	B	0.27%
FHN	D	0.27%
MOS	F	0.27%
GPK	C	0.27%
CHK	C	0.27%
KBR	D	0.27%
Z	C	0.26%
DCI	C	0.26%
ORI	B	0.26%
APG	F	0.26%
CHRD	F	0.26%
INGR	B	0.26%
HRB	C	0.26%
SOLV	D	0.26%
JEF	C	0.26%
STLD	C	0.26%
UNM	B	0.26%
EGP	C	0.26%
HAS	B	0.26%
WCC	C	0.25%
MHK	B	0.25%
EVR	B	0.25%
NYT	B	0.25%
WAL	B	0.25%
FLR	D	0.25%
SF	B	0.25%
NNN	B	0.25%
MKSI	F	0.24%
DINO	F	0.24%
KNX	C	0.24%
AXTA	B	0.24%
FMC	B	0.24%
ALSN	B	0.24%
WBS	C	0.24%
FCN	C	0.24%
BRX	C	0.24%
LAD	B	0.24%
X	F	0.23%
CR	B	0.23%
BWA	C	0.23%
CRUS	D	0.23%
DOC	B	0.23%
AYI	B	0.23%
AIT	B	0.23%
OGE	B	0.23%
SNX	C	0.23%
SEIC	B	0.23%
ADC	C	0.22%
STAG	D	0.22%
SSB	C	0.22%
GME	D	0.22%
BPOP	C	0.22%
NI	B	0.22%
AGNC	B	0.22%
CBSH	D	0.22%
BERY	B	0.22%
FR	C	0.22%
ANF	D	0.22%
DTM	C	0.22%
ELAN	D	0.22%
KEX	C	0.21%
SWN	C	0.21%
OSK	F	0.21%
G	C	0.21%
VOYA	B	0.21%
UFPI	C	0.21%
FYBR	C	0.21%
ARW	B	0.21%
ACHC	D	0.21%
WTFC	C	0.21%
DVA	B	0.21%
IVZ	B	0.21%
ZION	D	0.21%
RLI	B	0.2%
SAIC	C	0.2%
PB	D	0.2%
BIO	C	0.2%
TMHC	B	0.2%
MTG	B	0.2%
ACI	F	0.2%
MSA	D	0.2%
BBWI	D	0.2%
RRC	D	0.2%
AAL	D	0.2%
JAZZ	D	0.2%
ONB	D	0.19%
XPO	D	0.19%
SNV	D	0.19%
EVRG	B	0.19%
CFR	C	0.19%
ESNT	B	0.19%
MAT	D	0.19%
FLS	C	0.19%
UHAL	B	0.19%
LEA	D	0.19%
ESAB	C	0.18%
R	C	0.18%
AXS	B	0.18%
AES	C	0.18%
CMC	D	0.18%
CLF	F	0.18%
STWD	B	0.18%
LPX	B	0.18%
RL	B	0.18%
FAF	B	0.18%
AN	C	0.17%
BECN	F	0.17%
AA	C	0.17%
VMI	C	0.17%
AGCO	D	0.17%
SJM	C	0.17%
CBT	B	0.17%
ST	D	0.17%
ESI	C	0.17%
VNO	B	0.17%
CADE	C	0.17%
OMF	D	0.17%
COHR	C	0.17%
NXST	D	0.16%
BC	C	0.16%
UGI	B	0.16%
TKR	C	0.16%
GBCI	C	0.16%
FNB	D	0.16%
WTS	C	0.16%
KBH	C	0.16%
MUR	F	0.16%
VNT	F	0.16%
THO	C	0.16%
VVV	D	0.16%
GAP	F	0.16%
KD	F	0.16%
WHR	C	0.16%
NFG	B	0.16%
SRCL	B	0.16%
LAMR	B	0.16%
EPAM	F	0.16%
SIGI	D	0.16%
AMG	C	0.16%
QRVO	F	0.16%
LKQ	F	0.16%
SON	D	0.16%
PARA	D	0.16%
PVH	D	0.16%
SUM	D	0.15%
SWX	C	0.15%
POR	B	0.15%
AVT	B	0.15%
AM	B	0.15%
GATX	D	0.15%
HOMB	D	0.15%
IDA	B	0.15%
OLN	D	0.15%
MDU	B	0.15%
CTLT	B	0.15%
XRAY	D	0.15%
UBSI	D	0.15%
COLB	B	0.15%
HWC	D	0.14%
BCO	B	0.14%
THG	C	0.14%
JHG	B	0.14%
SLM	C	0.14%
OZK	F	0.14%
KRC	C	0.13%
ASH	F	0.13%
M	F	0.13%
CUZ	C	0.13%
BDC	B	0.13%
FLO	C	0.13%
FFIN	C	0.13%
KNF	C	0.13%
MDGL	F	0.13%
AVNT	B	0.13%
ZWS	B	0.13%
WTM	F	0.13%
HOG	C	0.13%
PII	D	0.13%
NJR	C	0.13%
PSN	B	0.13%
RYN	C	0.13%
LYFT	D	0.12%
SBRA	C	0.12%
PRGO	F	0.12%
TPG	C	0.12%
ESGR	D	0.12%
AR	C	0.12%
DNB	D	0.12%
CNX	B	0.12%
UMBF	C	0.12%
ENS	C	0.12%
BKH	B	0.12%
WU	C	0.12%
CPRI	D	0.12%
SLGN	B	0.12%
ASGN	D	0.12%
CNXC	F	0.12%
PR	F	0.12%
AUR	C	0.12%
CNO	C	0.11%
EPR	C	0.11%
MTZ	C	0.11%
TEX	F	0.11%
HUN	C	0.11%
AMKR	F	0.11%
PNFP	C	0.11%
ALE	A	0.11%
PNM	B	0.11%
MSM	D	0.11%
VLY	D	0.11%
MIDD	C	0.11%
KMPR	D	0.11%
NCLH	B	0.11%
OGS	B	0.11%
COTY	D	0.1%
NUVL	D	0.1%
ASB	D	0.1%
EBC	C	0.1%
NWE	A	0.1%
SR	B	0.1%
NHI	C	0.1%
NSP	F	0.1%
ATKR	F	0.1%
PAG	D	0.1%
PBF	F	0.1%
BNL	B	0.1%
PCH	C	0.1%
MAN	C	0.1%
HL	C	0.1%
IBOC	D	0.1%
CC	D	0.09%
IOVA	F	0.09%
WEN	C	0.09%
TNL	C	0.09%
SMG	B	0.09%
PK	D	0.09%
ALIT	D	0.09%
TCBI	C	0.09%
NVST	D	0.09%
AMED	D	0.09%
SYNA	D	0.09%
ENOV	F	0.08%
RNG	F	0.08%
SPB	B	0.08%
LSXMK	D	0.08%
MGRC	D	0.08%
TDC	D	0.08%
PFSI	C	0.08%
FHI	B	0.08%
FIBK	C	0.08%
WLK	C	0.08%
POST	B	0.08%
ADTN	C	0.08%
BHF	F	0.08%
CACC	F	0.08%
PRIM	B	0.08%
ZD	D	0.07%
LAUR	C	0.07%
TOWN	D	0.07%
CRI	D	0.07%
FRME	D	0.07%
VAC	D	0.07%
TGNA	C	0.07%
BOKF	C	0.07%
GHC	B	0.07%
GT	F	0.07%
VSH	F	0.07%
COMP	C	0.07%
AZTA	F	0.07%
HURN	C	0.06%
GOLF	F	0.06%
IVT	D	0.06%
ZG	C	0.06%
LITE	B	0.06%
JOBY	F	0.06%
WLY	B	0.06%
MIR	C	0.06%
IMVT	F	0.06%
SPR	D	0.06%
EQC	D	0.06%
BLKB	C	0.06%
JWN	C	0.06%
CDE	C	0.06%
REVG	D	0.05%
INFA	D	0.05%
TROX	D	0.05%
REYN	C	0.05%
PPC	D	0.05%
CRGY	D	0.05%
NMRK	B	0.05%
WSBC	D	0.05%
VRNT	F	0.05%
IPGP	D	0.05%
EDR	A	0.05%
SCS	D	0.04%
AMRX	C	0.04%
PDM	C	0.04%
AIV	C	0.04%
KFRC	F	0.04%
INSW	C	0.04%
JELD	D	0.04%
VCTR	B	0.04%
DK	F	0.04%
MSGE	B	0.04%
HELE	D	0.04%
LC	D	0.04%
BKD	D	0.04%
CAR	D	0.04%
PWSC	C	0.04%
CODI	C	0.04%
LADR	D	0.04%
ESRT	C	0.04%
UA	C	0.04%
UAA	C	0.04%
RRR	D	0.04%
HEES	D	0.04%
GEF	C	0.04%
DNUT	F	0.03%
CGON	C	0.03%
FG	C	0.03%
NNI	C	0.03%
LGF.A	F	0.03%
LEVI	C	0.03%
BV	C	0.03%
RBRK	F	0.03%
CMTG	F	0.03%
SIRI	C	0.03%
ETWO	D	0.03%
FA	B	0.03%
RKLB	C	0.03%
HTLF	C	0.03%
DDS	D	0.03%
TRS	C	0.03%
ATSG	C	0.03%
THR	F	0.03%
MRC	D	0.03%
CNNE	F	0.03%
DBRG	D	0.03%
WMK	D	0.03%
ACT	C	0.03%
HE	F	0.03%
FOR	D	0.02%
SMR	C	0.02%
CNDT	C	0.02%
HY	F	0.02%
BMBL	F	0.02%
UHAL	B	0.02%
SMMT	D	0.02%
AMC	F	0.02%
USM	C	0.02%
HLIO	C	0.02%
BASE	F	0.02%
SEB	D	0.02%
ECVT	F	0.02%
HLF	F	0.02%
BRSP	D	0.02%
MEI	D	0.01%
PACB	D	0.01%
RDUS	D	0.01%
OPK	D	0.01%
OLPX	D	0.01%
WOOF	C	0.01%
BRCC	F	0.01%
ALX	B	0.01%
ZIP	D	0.01%
KRO	C	0.01%
DJT	F	0.01%
CRCT	C	0.01%
SRCL	B	0.01%
TRTX	D	0.01%
EE	A	0.01%
RUSHB	C	0.01%
SWBI	F	0.01%
NAPA	F	0.01%
RMR	C	0.01%
VMEO	C	0.01%
AMK	B	0.01%
ATUS	C	0.01%
GRC	D	0.01%
PTVE	D	0.01%
UDMY	F	0.01%
DAWN	D	0.01%
TWKS	C	0.01%
CCO	D	0.01%
CWH	C	0.01%
GCMG	B	0.01%
CLBK	D	0.01%
LGF.A	F	0.01%
SSP	F	0.0%
SCWX	C	0.0%
AC	C	0.0%
TTEC	F	0.0%
CRNC	F	0.0%
SAVE	F	0.0%
CHGG	F	0.0%
ACDC	F	0.0%
GEF	C	0.0%
LDI	D	0.0%

VBR Underweight 253 Positions Relative to SSLY

Symbol	Grade	Weight
VCEL	F	-0.76%
ATEN	C	-0.73%
TNDM	D	-0.72%
HLIT	C	-0.69%
ALRM	F	-0.64%
CALX	C	-0.6%
SMTC	C	-0.58%
CEVA	C	-0.57%
HVT	F	-0.54%
ASTH	B	-0.51%
PLUS	B	-0.49%
SITM	B	-0.48%
DGII	D	-0.44%
EXTR	C	-0.44%
CNS	B	-0.43%
TRUP	D	-0.43%
AOSL	D	-0.42%
SGH	D	-0.42%
MGPI	F	-0.39%
SPTN	C	-0.38%
PRFT	B	-0.37%
PAHC	C	-0.37%
PTGX	C	-0.37%
HSTM	D	-0.37%
RUN	D	-0.36%
BSIG	C	-0.36%
DFIN	D	-0.36%
CHEF	C	-0.34%
AMPH	D	-0.34%
LESL	F	-0.34%
CPRX	C	-0.33%
SDGR	F	-0.33%
PLMR	C	-0.32%
LCII	C	-0.32%
CCOI	C	-0.31%
HRMY	B	-0.31%
MSEX	C	-0.31%
SHAK	C	-0.31%
UTL	C	-0.3%
DIOD	F	-0.3%
HCI	C	-0.3%
AMSF	C	-0.3%
CPK	B	-0.29%
FELE	B	-0.29%
SJW	F	-0.28%
CWT	D	-0.28%
SABR	C	-0.28%
WGO	D	-0.28%
GOGO	F	-0.27%
ANIP	F	-0.27%
CORT	B	-0.27%
CARG	C	-0.26%
MLAB	C	-0.26%
CTS	D	-0.26%
LQDT	C	-0.26%
CERT	F	-0.26%
THRM	F	-0.26%
CHCT	F	-0.26%
SNCY	D	-0.25%
AHCO	C	-0.25%
DOCN	C	-0.25%
SLP	F	-0.24%
IPAR	D	-0.24%
CNSL	A	-0.23%
FN	C	-0.23%
CALM	B	-0.23%
LPG	F	-0.23%
GSHD	C	-0.23%
GRBK	B	-0.22%
BLFS	D	-0.22%
EXPI	C	-0.21%
YELP	D	-0.21%
MHO	B	-0.21%
COLL	C	-0.21%
SMP	D	-0.21%
AVAV	C	-0.2%
CVGW	C	-0.2%
THRY	F	-0.2%
PARR	F	-0.2%
ALKS	D	-0.2%
GDOT	D	-0.2%
FLGT	F	-0.2%
ALGT	D	-0.2%
SHEN	F	-0.2%
SSTK	F	-0.19%
SLVM	C	-0.19%
PATK	C	-0.19%
LGIH	D	-0.19%
CCS	C	-0.19%
BOOT	B	-0.18%
TRIP	F	-0.18%
SNEX	C	-0.18%
CVCO	B	-0.18%
REX	D	-0.18%
MODG	F	-0.18%
STC	C	-0.18%
SCVL	C	-0.17%
TALO	F	-0.17%
MGY	D	-0.17%
CTKB	F	-0.17%
CHUY	C	-0.17%
ACIW	B	-0.17%
VRRM	D	-0.17%
TBBK	C	-0.17%
DVAX	D	-0.17%
CASH	D	-0.17%
DORM	C	-0.17%
POWL	B	-0.17%
VICR	C	-0.16%
NOG	F	-0.16%
GPRE	F	-0.16%
UFPT	D	-0.16%
HWKN	B	-0.16%
WDFC	C	-0.15%
ENVA	C	-0.15%
LKFN	D	-0.15%
EPAC	B	-0.15%
FTDR	B	-0.15%
BOX	C	-0.15%
XPEL	D	-0.15%
CRK	C	-0.15%
ASIX	B	-0.15%
CRVL	B	-0.15%
NVEE	F	-0.14%
ENSG	D	-0.14%
NMIH	C	-0.14%
AGYS	D	-0.14%
CUBI	F	-0.14%
XNCR	D	-0.14%
PRDO	D	-0.14%
TNC	D	-0.13%
SPSC	D	-0.13%
AEIS	D	-0.13%
CLW	F	-0.13%
FOXF	F	-0.13%
MRCY	C	-0.13%
CPF	C	-0.13%
RGNX	F	-0.13%
MARA	D	-0.13%
SONO	F	-0.13%
RCUS	D	-0.13%
BL	D	-0.13%
EZPW	D	-0.12%
MERC	D	-0.12%
MMSI	C	-0.12%
ADUS	C	-0.12%
BMI	B	-0.12%
HZO	C	-0.12%
JBT	C	-0.12%
PJT	B	-0.12%
FORM	F	-0.12%
COHU	F	-0.12%
IRWD	F	-0.12%
ENV	C	-0.12%
CNXN	B	-0.11%
ITRI	C	-0.11%
TR	C	-0.11%
CNMD	D	-0.11%
NEO	F	-0.11%
RDNT	B	-0.11%
LMAT	B	-0.11%
QNST	C	-0.11%
VIR	F	-0.11%
TRST	D	-0.11%
DV	F	-0.11%
GKOS	C	-0.11%
MOV	F	-0.11%
MYRG	F	-0.1%
KLG	D	-0.1%
JBSS	F	-0.1%
DXPE	C	-0.1%
ALG	D	-0.1%
LNN	C	-0.1%
FSS	D	-0.1%
ARLO	D	-0.1%
JJSF	B	-0.1%
MCW	F	-0.1%
ETH	D	-0.1%
CXM	F	-0.1%
CRS	C	-0.1%
RAMP	F	-0.1%
WHD	D	-0.09%
MCRI	B	-0.09%
DDD	D	-0.09%
NARI	F	-0.09%
CRSR	D	-0.09%
SMPL	D	-0.09%
PRVA	F	-0.09%
AWI	B	-0.09%
VVI	C	-0.09%
FIZZ	D	-0.09%
IIPR	B	-0.08%
ATI	C	-0.08%
VTOL	D	-0.08%
NBR	F	-0.08%
USPH	F	-0.08%
MSGS	B	-0.08%
DEA	D	-0.08%
GDEN	D	-0.08%
OII	D	-0.08%
IBP	C	-0.08%
CEIX	C	-0.07%
PLAB	D	-0.07%
AHH	D	-0.07%
JOE	D	-0.07%
ROCK	D	-0.07%
FCPT	C	-0.07%
MRTN	D	-0.07%
HSII	C	-0.07%
IIIN	F	-0.07%
LBRT	F	-0.07%
HLX	D	-0.07%
KW	C	-0.07%
STAA	D	-0.07%
TTGT	F	-0.07%
SEDG	F	-0.07%
NXRT	D	-0.07%
EPRT	B	-0.07%
RES	D	-0.07%
WSR	D	-0.06%
EFC	C	-0.06%
SXC	F	-0.06%
PLAY	D	-0.06%
TWI	D	-0.06%
KLIC	D	-0.06%
PDFS	D	-0.06%
HAYN	D	-0.06%
CENX	C	-0.06%
KWR	D	-0.05%
MTUS	F	-0.05%
VECO	F	-0.05%
UCTT	D	-0.05%
ACLS	F	-0.05%
MYE	F	-0.05%
ICHR	D	-0.05%
AMR	D	-0.05%
ZEUS	F	-0.05%
TDW	F	-0.05%
CCRN	F	-0.05%
BCPC	C	-0.05%
ROG	D	-0.04%
PFBC	D	-0.02%
BANC	C	-0.02%
SBCF	D	-0.02%
HAFC	D	-0.02%
HFWA	D	-0.02%
FBK	C	-0.02%
VBTX	C	-0.02%
FBNC	C	-0.02%
SBSI	D	-0.02%
DCOM	C	-0.02%
RILY	F	-0.02%
RC	F	-0.01%