VBR vs. USVM ETF Comparison

Comparison of Vanguard Small-Cap Value ETF - DNQ (VBR) to VictoryShares USAA MSCI USA Small Cap Value Momentum ETF (USVM)

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

USVM

VictoryShares USAA MSCI USA Small Cap Value Momentum ETF

USVM Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the MSCI USA Small Cap Select Value Momentum Blend Index. Under normal circumstances, the fund seeks to achieve its investment objective by investing at least 80% of its assets in securities in the index. The index is designed to deliver exposure to equity securities of small-capitalization U.S. issuers within the MSCI USA Small Cap Index (the parent index) that have higher exposure to value and momentum factors while also maintaining moderate index turnover and lower realized volatility than traditional capitalization weighted indexes.

Grade (RS Rating)

Last Trade

$91.12

Average Daily Volume

7,002

Number of Holdings ^*

278

* may have additional holdings in another (foreign) market

Performance

Period	VBR	USVM
30 Days	7.07%	8.14%
60 Days	7.22%	7.88%
90 Days	8.68%	9.06%
12 Months	33.95%	39.19%

198 Overlapping Holdings

Symbol	Grade	Weight in VBR	Weight in USVM	Overlap
ABG	B	0.13%	0.32%	0.13%
ADTN	A	0.09%	0.3%	0.09%
AEO	F	0.1%	0.25%	0.1%
AGO	B	0.12%	0.5%	0.12%
AKR	B	0.08%	0.53%	0.08%
AL	B	0.13%	0.36%	0.13%
ALSN	B	0.27%	0.48%	0.27%
AMKR	D	0.08%	0.17%	0.08%
AMRX	C	0.03%	0.24%	0.03%
AMWD	C	0.02%	0.32%	0.02%
AN	C	0.15%	0.32%	0.15%
ANDE	D	0.04%	0.33%	0.04%
ANF	C	0.2%	0.18%	0.18%
ARI	C	0.04%	0.33%	0.04%
AROC	B	0.09%	0.42%	0.09%
ARW	D	0.18%	0.42%	0.18%
ASB	B	0.1%	0.44%	0.1%
ATGE	B	0.08%	0.31%	0.08%
AVT	C	0.14%	0.45%	0.14%
AXS	A	0.17%	0.56%	0.17%
AZTA	D	0.06%	0.28%	0.06%
AZZ	B	0.06%	0.35%	0.06%
BCC	B	0.15%	0.29%	0.15%
BCO	D	0.13%	0.37%	0.13%
BFH	B	0.07%	0.24%	0.07%
BHE	B	0.04%	0.27%	0.04%
BHF	B	0.08%	0.36%	0.08%
BIO	D	0.2%	0.33%	0.2%
BKD	D	0.03%	0.2%	0.03%
BMBL	C	0.02%	0.22%	0.02%
BPOP	B	0.19%	0.42%	0.19%
BTU	B	0.09%	0.4%	0.09%
CACI	D	0.36%	0.6%	0.36%
CAL	D	0.01%	0.22%	0.01%
CAR	C	0.04%	0.22%	0.04%
CHRD	D	0.23%	0.4%	0.23%
CLF	F	0.18%	0.26%	0.18%
CMC	B	0.18%	0.44%	0.18%
CNK	B	0.05%	0.38%	0.05%
CNO	A	0.1%	0.48%	0.1%
CNX	A	0.14%	0.61%	0.14%
COHR	B	0.21%	0.26%	0.21%
COOP	B	0.16%	0.43%	0.16%
CRUS	D	0.17%	0.19%	0.17%
CUZ	B	0.14%	0.42%	0.14%
CWEN	C	0.07%	0.34%	0.07%
CWEN	C	0.03%	0.34%	0.03%
CXW	B	0.04%	0.42%	0.04%
DDS	B	0.05%	0.34%	0.05%
DEI	B	0.09%	0.34%	0.09%
DKS	C	0.23%	0.23%	0.23%
DTM	B	0.26%	0.88%	0.26%
DVA	B	0.17%	0.42%	0.17%
DXC	B	0.1%	0.26%	0.1%
DY	D	0.07%	0.35%	0.07%
DYN	F	0.04%	0.09%	0.04%
EHC	B	0.29%	0.56%	0.29%
ELAN	D	0.18%	0.19%	0.18%
ENOV	C	0.07%	0.36%	0.07%
ESAB	B	0.21%	0.51%	0.21%
ESNT	D	0.18%	0.44%	0.18%
ESRT	C	0.04%	0.38%	0.04%
EVR	B	0.28%	0.51%	0.28%
FFIV	B	0.4%	0.5%	0.4%
FTRE	D	0.04%	0.18%	0.04%
FYBR	D	0.26%	0.35%	0.26%
GAP	C	0.15%	0.19%	0.15%
GBX	A	0.05%	0.44%	0.05%
GEF	A	0.0%	0.49%	0.0%
GEF	A	0.04%	0.49%	0.04%
GEO	B	0.06%	0.52%	0.06%
GES	F	0.01%	0.21%	0.01%
GHC	C	0.08%	0.47%	0.08%
GIII	D	0.03%	0.3%	0.03%
GMS	B	0.1%	0.41%	0.1%
GNW	A	0.09%	0.48%	0.09%
GPI	A	0.14%	0.37%	0.14%
GT	C	0.07%	0.26%	0.07%
GVA	A	0.11%	0.6%	0.11%
HCC	B	0.1%	0.28%	0.1%
HE	C	0.05%	0.14%	0.05%
HIW	D	0.1%	0.32%	0.1%
HNI	B	0.06%	0.42%	0.06%
HRB	D	0.24%	0.33%	0.24%
HTZ	C	0.01%	0.18%	0.01%
IAC	D	0.1%	0.29%	0.1%
INGR	B	0.25%	0.66%	0.25%
INSW	F	0.03%	0.3%	0.03%
INVA	D	0.03%	0.53%	0.03%
ITGR	B	0.12%	0.4%	0.12%
IVZ	B	0.22%	0.35%	0.22%
JBGS	D	0.04%	0.32%	0.04%
JBLU	F	0.02%	0.19%	0.02%
JEF	A	0.27%	0.57%	0.27%
JLL	D	0.38%	0.34%	0.34%
JXN	C	0.22%	0.32%	0.22%
KBH	D	0.15%	0.28%	0.15%
KBR	F	0.26%	0.53%	0.26%
KEX	C	0.19%	0.42%	0.19%
KFY	B	0.11%	0.42%	0.11%
KRC	C	0.14%	0.33%	0.14%
KSS	F	0.06%	0.17%	0.06%
LEVI	F	0.02%	0.23%	0.02%
LGND	B	0.05%	0.26%	0.05%
LNC	B	0.17%	0.34%	0.17%
LPX	B	0.18%	0.33%	0.18%
LRN	A	0.06%	0.48%	0.06%
LUMN	C	0.19%	0.2%	0.19%
LZB	B	0.05%	0.31%	0.05%
M	D	0.12%	0.23%	0.12%
MAC	B	0.12%	0.32%	0.12%
MATX	C	0.15%	0.41%	0.15%
MCY	A	0.05%	0.41%	0.05%
MDU	D	0.16%	0.42%	0.16%
MHK	D	0.21%	0.23%	0.21%
MHO	D	0.06%	0.26%	0.06%
MLI	C	0.27%	0.47%	0.27%
MODG	F	0.02%	0.21%	0.02%
MOG.A	B	0.16%	0.41%	0.16%
MOS	F	0.25%	0.32%	0.25%
MPW	F	0.08%	0.13%	0.08%
MSGE	F	0.03%	0.21%	0.03%
MTG	C	0.19%	0.47%	0.19%
MTH	D	0.19%	0.24%	0.19%
MUSA	A	0.26%	0.44%	0.26%
NATL	B	0.06%	0.28%	0.06%
NAVI	C	0.03%	0.34%	0.03%
NFG	A	0.16%	0.58%	0.16%
NHI	D	0.1%	0.5%	0.1%
NMRK	B	0.06%	0.31%	0.06%
NPAB	B	0.04%	0.11%	0.04%
NSIT	F	0.17%	0.24%	0.17%
NTCT	C	0.04%	0.29%	0.04%
NXST	C	0.16%	0.32%	0.16%
ODP	F	0.03%	0.17%	0.03%
OGN	D	0.14%	0.17%	0.14%
OMI	F	0.03%	0.16%	0.03%
ORI	A	0.24%	0.6%	0.24%
OVV	B	0.3%	0.43%	0.3%
PBF	D	0.08%	0.26%	0.08%
PBH	A	0.11%	0.51%	0.11%
PHIN	A	0.06%	0.35%	0.06%
PINC	B	0.06%	0.52%	0.06%
PIPR	B	0.14%	0.47%	0.14%
PK	B	0.08%	0.35%	0.08%
PLXS	B	0.11%	0.44%	0.11%
POST	C	0.07%	0.56%	0.07%
PR	B	0.13%	0.42%	0.13%
PRGO	B	0.1%	0.3%	0.1%
PRIM	A	0.09%	0.45%	0.09%
PSN	D	0.15%	0.37%	0.15%
PVH	C	0.16%	0.27%	0.16%
QRVO	F	0.2%	0.17%	0.17%
R	B	0.18%	0.43%	0.18%
RDN	C	0.15%	0.41%	0.15%
REVG	B	0.04%	0.2%	0.04%
REZI	A	0.08%	0.34%	0.08%
RL	B	0.22%	0.38%	0.22%
RNA	D	0.07%	0.13%	0.07%
RUSHA	C	0.1%	0.37%	0.1%
SAH	A	0.02%	0.28%	0.02%
SANM	B	0.11%	0.27%	0.11%
SATS	D	0.09%	0.19%	0.09%
SBRA	C	0.13%	0.55%	0.13%
SCS	C	0.03%	0.28%	0.03%
SEB	F	0.02%	0.41%	0.02%
SEM	B	0.1%	0.32%	0.1%
SF	B	0.29%	0.65%	0.29%
SFM	A	0.38%	0.45%	0.38%
SKYW	B	0.11%	0.44%	0.11%
SLG	B	0.14%	0.31%	0.14%
SM	B	0.07%	0.29%	0.07%
SNDR	B	0.03%	0.49%	0.03%
SNX	C	0.22%	0.44%	0.22%
SOLV	C	0.29%	0.3%	0.29%
SPB	C	0.07%	0.35%	0.07%
SWX	B	0.13%	0.47%	0.13%
TAP	C	0.28%	0.52%	0.28%
TDS	B	0.08%	0.24%	0.08%
TGNA	B	0.08%	0.5%	0.08%
TMHC	B	0.2%	0.34%	0.2%
TPH	D	0.11%	0.31%	0.11%
TTMI	B	0.06%	0.35%	0.06%
UAA	C	0.05%	0.3%	0.05%
UGI	A	0.15%	0.33%	0.15%
UHS	D	0.34%	0.35%	0.34%
UNM	A	0.28%	0.83%	0.28%
USM	B	0.03%	0.21%	0.03%
UVV	B	0.03%	0.38%	0.03%
VCTR	B	0.04%	0.45%	0.04%
VIRT	B	0.07%	0.35%	0.07%
VSH	D	0.06%	0.28%	0.06%
VSTO	A	0.03%	0.4%	0.03%
VSTS	C	0.05%	0.18%	0.05%
VYX	B	0.05%	0.25%	0.05%
WKC	D	0.04%	0.39%	0.04%
WT	B	0.04%	0.41%	0.04%
XRX	F	0.03%	0.19%	0.03%

VBR Overweight 596 Positions Relative to USVM

Symbol	Grade	Weight
SW	A	0.78%
BAH	F	0.69%
EME	C	0.61%
FCNCA	A	0.61%
BLDR	D	0.58%
ATO	A	0.58%
CSL	C	0.57%
NRG	B	0.55%
UTHR	C	0.49%
RPM	A	0.48%
PNR	A	0.48%
KIM	A	0.47%
IEX	B	0.47%
RS	B	0.46%
OC	A	0.45%
TOL	B	0.44%
USFD	A	0.44%
THC	D	0.43%
ACM	A	0.42%
EQH	B	0.42%
RGA	A	0.41%
RNR	C	0.4%
JBL	B	0.39%
WSM	B	0.39%
EWBC	A	0.39%
REG	B	0.38%
GLPI	C	0.38%
TTEK	F	0.38%
PFGC	B	0.37%
JNPR	F	0.37%
ALLE	D	0.36%
EMN	D	0.36%
LDOS	C	0.36%
CPT	B	0.36%
NVT	B	0.36%
BG	F	0.35%
SJM	D	0.34%
CHRW	C	0.34%
CG	A	0.34%
AES	F	0.34%
ATR	B	0.33%
SCI	B	0.33%
BJ	A	0.33%
CCK	C	0.33%
KMX	B	0.33%
ITT	A	0.33%
BXP	D	0.33%
HUBB	B	0.33%
TPR	B	0.32%
OHI	C	0.32%
IPG	D	0.32%
RRX	B	0.32%
EPAM	C	0.3%
FBIN	D	0.3%
AA	B	0.3%
AIZ	A	0.29%
ARMK	B	0.29%
PNW	B	0.29%
WCC	B	0.28%
TFX	F	0.28%
GL	B	0.28%
WTRG	B	0.28%
STLD	B	0.28%
ALLY	C	0.28%
LKQ	D	0.28%
AFG	A	0.28%
Z	A	0.27%
AYI	B	0.27%
FRT	B	0.27%
FHN	A	0.27%
PRI	A	0.27%
APA	D	0.26%
SEIC	B	0.26%
AAL	B	0.26%
DCI	B	0.26%
WBS	A	0.26%
AIT	A	0.26%
LAD	A	0.26%
HSIC	B	0.26%
FLR	B	0.26%
APG	B	0.25%
CMA	A	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%
FMC	D	0.24%
BRX	A	0.24%
AXTA	A	0.24%
EGP	F	0.24%
WTFC	A	0.23%
DOC	D	0.23%
X	C	0.23%
NI	A	0.23%
VOYA	B	0.23%
NNN	D	0.23%
KNX	B	0.23%
OGE	B	0.23%
SAIC	F	0.22%
SSB	B	0.22%
ADC	B	0.22%
VNO	B	0.22%
CR	A	0.22%
BWA	D	0.22%
BERY	B	0.22%
ZION	B	0.22%
UFPI	B	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%
RHI	B	0.2%
RLI	B	0.2%
STAG	F	0.2%
G	B	0.2%
SNV	B	0.2%
RRC	B	0.2%
FLS	B	0.2%
MAT	D	0.2%
FR	C	0.2%
MIDD	C	0.2%
FCN	D	0.2%
AGCO	D	0.19%
JAZZ	B	0.19%
EVRG	A	0.19%
UHAL	D	0.19%
PB	A	0.19%
OSK	B	0.19%
ALK	C	0.18%
CADE	B	0.18%
ONB	B	0.18%
MSA	D	0.18%
BBWI	D	0.18%
DINO	D	0.18%
STWD	C	0.18%
FAF	A	0.18%
VMI	B	0.18%
WHR	B	0.17%
BECN	B	0.17%
VNT	B	0.17%
SRCL	C	0.17%
ACI	C	0.17%
LAMR	D	0.17%
PARA	C	0.17%
SUM	B	0.17%
SIRI	C	0.17%
ESI	A	0.17%
CBT	C	0.17%
GBCI	B	0.17%
OMF	A	0.17%
COLB	A	0.17%
LEA	D	0.16%
AMG	B	0.16%
KNF	A	0.16%
IDA	A	0.16%
SIGI	C	0.16%
TPG	A	0.16%
ALB	C	0.16%
NCLH	B	0.16%
UBSI	B	0.15%
SON	D	0.15%
ST	F	0.15%
VVV	F	0.15%
FNB	A	0.15%
WTS	B	0.15%
TKR	D	0.15%
THO	B	0.15%
JHG	A	0.15%
BC	C	0.15%
KD	B	0.15%
BDC	B	0.14%
RYN	D	0.14%
XRAY	F	0.14%
OZK	B	0.14%
KTB	B	0.14%
MDGL	B	0.14%
SLM	A	0.14%
THG	A	0.14%
OLN	D	0.14%
AM	A	0.14%
AUR	C	0.14%
POR	C	0.14%
HOMB	A	0.14%
GATX	A	0.14%
ZWS	B	0.14%
RIVN	F	0.13%
WTM	A	0.13%
EAT	A	0.13%
FFIN	B	0.13%
LYFT	C	0.13%
HWC	B	0.13%
MUR	D	0.13%
UMBF	B	0.13%
NJR	A	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%
ABCB	B	0.12%
EDR	A	0.12%
HASI	D	0.12%
VLY	B	0.12%
BKH	A	0.12%
SLGN	A	0.12%
CRC	B	0.12%
MGM	D	0.12%
FLO	D	0.12%
SEE	C	0.12%
AVNT	B	0.12%
NVST	B	0.11%
HUN	F	0.11%
CDP	C	0.11%
SKT	B	0.11%
WU	D	0.11%
AX	A	0.11%
ASO	F	0.11%
ESGR	B	0.11%
ALE	A	0.11%
PII	D	0.11%
SMG	D	0.11%
ACHC	F	0.11%
NUVL	D	0.11%
HOG	D	0.11%
KMPR	B	0.11%
AR	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%
ASH	D	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%
WEN	D	0.1%
BNL	D	0.1%
ABM	B	0.1%
BGC	C	0.1%
UCB	A	0.1%
AUB	B	0.1%
IBOC	A	0.1%
EPR	D	0.1%
NWL	B	0.1%
SR	A	0.1%
WD	D	0.1%
MSM	C	0.1%
TCBI	B	0.1%
WSFS	A	0.09%
AVA	A	0.09%
JWN	C	0.09%
BRC	D	0.09%
MAN	D	0.09%
MIR	A	0.09%
PENN	C	0.09%
PTEN	C	0.09%
PAG	B	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%
CATY	B	0.09%
FBP	B	0.09%
FHB	A	0.09%
TNL	A	0.09%
EBC	B	0.09%
SXT	B	0.09%
APLE	B	0.09%
COMP	B	0.09%
CBU	B	0.09%
FHI	A	0.09%
ESE	B	0.09%
FIBK	A	0.08%
CVBF	A	0.08%
COTY	F	0.08%
CXT	B	0.08%
LXP	D	0.08%
ABR	C	0.08%
BKU	A	0.08%
NSP	D	0.08%
IOSP	B	0.08%
UE	C	0.08%
UNF	B	0.08%
CC	C	0.08%
SYNA	C	0.08%
DBRG	F	0.08%
PRGS	A	0.08%
WAFD	B	0.08%
SFNC	B	0.08%
ALIT	C	0.08%
GFF	A	0.08%
MGRC	B	0.08%
RNG	B	0.08%
TRN	C	0.08%
IOVA	F	0.08%
BOH	B	0.08%
BYD	C	0.07%
OMCL	C	0.07%
ENR	B	0.07%
CDE	D	0.07%
PFS	B	0.07%
PECO	A	0.07%
FFBC	A	0.07%
HBI	B	0.07%
CNXC	F	0.07%
VSCO	B	0.07%
BOKF	B	0.07%
MTX	B	0.07%
VAC	B	0.07%
HAYW	B	0.07%
PPBI	B	0.07%
ARCB	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%
WLK	D	0.07%
PFSI	D	0.07%
CGON	F	0.06%
TRMK	B	0.06%
IMVT	F	0.06%
RXO	C	0.06%
HI	C	0.06%
BLKB	B	0.06%
KMT	B	0.06%
BANF	B	0.06%
NBTB	B	0.06%
AIR	B	0.06%
WLY	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%
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%
WERN	C	0.06%
JOBY	B	0.06%
SXI	B	0.06%
FL	F	0.06%
BANR	B	0.06%
CPRI	F	0.06%
SCL	C	0.05%
SHOO	D	0.05%
MLKN	D	0.05%
FCF	A	0.05%
HEES	B	0.05%
CHCO	B	0.05%
APOG	B	0.05%
LTC	B	0.05%
PDCO	D	0.05%
DRH	B	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%
PPC	C	0.05%
EPC	D	0.05%
OI	C	0.05%
STEP	B	0.05%
PRG	C	0.05%
WSBC	A	0.05%
SUPN	C	0.05%
GNL	F	0.05%
CRGY	B	0.05%
OFG	B	0.05%
ROIC	A	0.05%
CRI	D	0.05%
EIG	B	0.04%
PBI	B	0.04%
AAT	B	0.04%
FDP	B	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%
GO	C	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%
VRNT	C	0.04%
SBH	C	0.04%
LCII	C	0.04%
ALEX	C	0.04%
NX	C	0.04%
STBA	B	0.04%
HTH	B	0.04%
CODI	B	0.04%
BLMN	F	0.04%
REYN	D	0.04%
HOPE	B	0.04%
TROX	D	0.04%
UPBD	B	0.04%
AMN	F	0.04%
SMR	B	0.04%
HELE	C	0.04%
KN	B	0.04%
VRTS	B	0.04%
NWN	A	0.04%
ELME	D	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%
LEG	F	0.04%
GTY	B	0.04%
HLIO	B	0.04%
CABO	C	0.04%
AVNS	F	0.03%
MMI	B	0.03%
THR	B	0.03%
FA	C	0.03%
LGF.A	C	0.03%
SCSC	B	0.03%
BV	B	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%
MRC	B	0.03%
DAN	D	0.03%
CARS	B	0.03%
UA	C	0.03%
WMK	C	0.03%
KWR	C	0.03%
ECPG	B	0.03%
TRS	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%
SAFT	C	0.03%
RBRK	A	0.03%
CNNE	B	0.03%
KALU	C	0.03%
AIV	C	0.03%
JELD	F	0.03%
UNFI	A	0.03%
WOR	F	0.03%
WWW	B	0.03%
BHLB	B	0.03%
PMT	D	0.03%
UNIT	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%
MATW	C	0.02%
KREF	D	0.02%
PRLB	A	0.02%
ECVT	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%
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%
EMBC	C	0.02%
EYE	C	0.02%
DLX	B	0.02%
BDN	C	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%
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%
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%
NUS	D	0.0%
BRCC	F	0.0%

VBR Underweight 82 Positions Relative to USVM

Symbol	Grade	Weight
CW	B	-0.63%
CTRE	D	-0.61%
CALM	A	-0.54%
AWI	A	-0.52%
EXEL	B	-0.51%
TXRH	C	-0.51%
CSWI	A	-0.49%
ENSG	D	-0.49%
GPOR	B	-0.48%
GWRE	A	-0.46%
CLH	B	-0.45%
ACIW	B	-0.44%
H	B	-0.43%
ROAD	A	-0.42%
ENVA	B	-0.41%
STC	B	-0.41%
WTTR	B	-0.39%
FSS	B	-0.39%
QTWO	A	-0.37%
MTSI	B	-0.37%
NTRA	B	-0.37%
LMAT	A	-0.36%
PATK	D	-0.36%
ADUS	D	-0.35%
ALKT	B	-0.34%
STRL	B	-0.34%
FIX	A	-0.34%
CRS	A	-0.33%
RDNT	B	-0.33%
PEB	D	-0.33%
IIPR	D	-0.32%
CIVI	D	-0.31%
WGO	C	-0.31%
CVLT	B	-0.31%
VTLE	C	-0.29%
COKE	C	-0.29%
PRDO	B	-0.29%
CORT	B	-0.29%
CRL	C	-0.29%
CNM	D	-0.28%
VRNS	D	-0.28%
VERX	B	-0.28%
CUBI	C	-0.27%
WING	D	-0.27%
GRBK	D	-0.27%
IESC	B	-0.27%
SLVM	B	-0.27%
MEDP	D	-0.26%
PLUS	F	-0.26%
GKOS	B	-0.26%
BOOT	D	-0.25%
UCTT	D	-0.24%
CCS	D	-0.24%
HALO	F	-0.23%
POWL	C	-0.23%
ADMA	B	-0.22%
MOD	A	-0.22%
HIMS	B	-0.22%
CRNX	C	-0.22%
LBPH	A	-0.22%
AMR	C	-0.2%
UFPT	B	-0.2%
VITL	D	-0.2%
COLL	F	-0.2%
PI	D	-0.2%
VECO	F	-0.19%
PLAB	C	-0.19%
SOUN	C	-0.19%
LPG	F	-0.18%
FORM	D	-0.17%
ZETA	D	-0.17%
ONTO	D	-0.16%
DFH	D	-0.16%
CLSK	C	-0.16%
VIR	D	-0.15%
AHCO	F	-0.14%
INSM	C	-0.13%
HOV	D	-0.13%
JANX	C	-0.13%
VKTX	F	-0.11%
HUMA	F	-0.1%
MRVI	F	-0.07%