VCEB vs. CLSE ETF Comparison

Comparison of Vanguard ESG U.S. Corporate Bond ETF (VCEB) to Convergence Long/Short Equity ETF (CLSE)

VCEB

Vanguard ESG U.S. Corporate Bond ETF

VCEB Description

The investment seeks to track the performance of the Bloomberg Barclays MSCI US Corporate SRI Select Index (the ?index?). The index excludes bonds with maturities of 1 year or less and with less than $750 million outstanding, and is screened for certain environmental, social, and governance (ESG) criteria by the index provider, which is independent of Vanguard. All of the fund?s investments will be selected through the sampling process, and under normal circumstances, at least 80% of the fund?s assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$62.73

Average Daily Volume

37,148

Number of Holdings ^*

245

* may have additional holdings in another (foreign) market

CLSE

Convergence Long/Short Equity ETF

CLSE Description

The investment seeks long-term capital growth. The fund seeks to invest, under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in long and short positions in equity securities of domestic companies. The adviser intends to maintain a net long exposure (the market value of long positions minus the market value of short positions) of approximately 50% to 100%. Under normal market conditions, the fund’s long positions may range from approximately 90% to 150% and its short positions may range from approximately 20% to 70%.

Grade (RS Rating)

Last Trade

$23.68

Average Daily Volume

66,024

Number of Holdings ^*

337

* may have additional holdings in another (foreign) market

Performance

Period	VCEB	CLSE
30 Days	-0.25%	4.69%
60 Days	-2.76%	6.81%
90 Days	-1.73%	9.38%
12 Months	7.45%	39.93%

71 Overlapping Holdings

Symbol	Grade	Weight in VCEB	Weight in CLSE	Overlap
AAPL	C	0.01%	0.83%	0.01%
ABBV	D	0.03%	0.72%	0.03%
AJG	B	0.02%	-0.17%	-0.17%
AL	B	0.01%	-0.18%	-0.18%
AMZN	C	0.01%	2.53%	0.01%
APD	A	0.02%	-0.15%	-0.15%
APH	A	0.02%	0.67%	0.02%
AVGO	D	0.02%	2.28%	0.02%
AWK	D	0.02%	-0.26%	-0.26%
BAC	A	0.02%	0.81%	0.02%
BEN	C	0.02%	-0.36%	-0.36%
BHF	B	0.03%	-0.16%	-0.16%
BKNG	A	0.02%	0.44%	0.02%
BLK	C	0.02%	0.65%	0.02%
BMY	B	0.03%	1.11%	0.03%
C	A	0.01%	-0.19%	-0.19%
CAH	B	0.02%	0.86%	0.02%
CF	B	0.02%	0.37%	0.02%
CHTR	C	0.02%	-0.48%	-0.48%
CMA	A	0.03%	0.71%	0.03%
CSCO	B	0.02%	-0.52%	-0.52%
CVS	D	0.01%	0.29%	0.01%
DELL	C	0.01%	-0.25%	-0.25%
DG	F	0.03%	-0.4%	-0.4%
DLR	B	0.01%	-0.13%	-0.13%
DLTR	F	0.02%	-0.41%	-0.41%
EQIX	A	0.03%	-0.14%	-0.14%
EQR	B	0.03%	0.35%	0.03%
EXP	A	0.01%	0.48%	0.01%
EXPE	B	0.04%	0.61%	0.04%
FITB	A	0.02%	0.78%	0.02%
FOXA	B	0.01%	0.14%	0.01%
GILD	C	0.01%	1.07%	0.01%
GLW	B	0.02%	0.52%	0.02%
GM	B	0.01%	0.87%	0.01%
GOOGL	C	0.02%	3.47%	0.02%
HD	A	0.01%	1.13%	0.01%
HPE	B	0.01%	1.92%	0.01%
HUN	F	0.02%	-0.07%	-0.07%
INTC	D	0.01%	-0.93%	-0.93%
JNJ	D	0.01%	0.83%	0.01%
JPM	A	0.01%	0.64%	0.01%
KEY	B	0.01%	-0.25%	-0.25%
LRCX	F	0.01%	0.0%	0.0%
MCHP	D	0.04%	-0.63%	-0.63%
MDT	D	0.05%	0.29%	0.05%
MET	A	0.01%	0.52%	0.01%
MLM	B	0.02%	-0.13%	-0.13%
MU	D	0.03%	2.13%	0.03%
NEM	D	0.02%	0.22%	0.02%
NTAP	C	0.02%	1.0%	0.02%
NTRS	A	0.03%	1.08%	0.03%
NVDA	C	0.01%	4.61%	0.01%
NVR	D	0.03%	0.24%	0.03%
ORCL	B	0.02%	1.33%	0.02%
PG	A	0.01%	0.45%	0.01%
PGR	A	0.05%	0.46%	0.05%
PNC	B	0.01%	0.72%	0.01%
PRU	A	0.01%	0.13%	0.01%
PYPL	B	0.01%	1.33%	0.01%
QCOM	F	0.01%	1.73%	0.01%
RF	A	0.03%	0.72%	0.03%
ROP	B	0.03%	-0.7%	-0.7%
SPG	B	0.01%	0.37%	0.01%
SYF	B	0.03%	1.11%	0.03%
T	A	0.01%	0.29%	0.01%
TMUS	B	0.01%	0.7%	0.01%
TSN	B	0.01%	0.6%	0.01%
TXN	C	0.01%	-0.81%	-0.81%
UHS	D	0.02%	0.7%	0.02%
VMC	B	0.02%	-0.13%	-0.13%

VCEB Overweight 174 Positions Relative to CLSE

Symbol	Grade	Weight
DT	C	0.19%
MTB	A	0.07%
TJX	A	0.07%
MOS	F	0.06%
WEST	C	0.06%
DD	D	0.06%
AFL	B	0.05%
EQH	B	0.05%
LEN	D	0.04%
KMB	D	0.04%
GWW	B	0.04%
OTIS	C	0.04%
NOW	A	0.04%
STLA	F	0.04%
AZO	C	0.04%
CTAS	B	0.04%
CPT	B	0.04%
VRSK	A	0.04%
MMC	B	0.04%
FTV	C	0.03%
DGX	A	0.03%
VRSN	F	0.03%
BWA	D	0.03%
BG	F	0.03%
SJM	D	0.03%
EG	C	0.03%
PWR	A	0.03%
PPG	F	0.03%
DOC	D	0.03%
ORLY	B	0.03%
AMP	A	0.03%
ACGL	D	0.03%
LH	C	0.03%
K	A	0.03%
IFF	D	0.03%
HAS	D	0.03%
LLY	F	0.03%
CFG	B	0.03%
GIS	D	0.03%
WAB	B	0.03%
ITW	B	0.03%
ADP	B	0.03%
BDX	F	0.03%
ETN	A	0.03%
ZBH	C	0.03%
MA	C	0.03%
ALLY	C	0.03%
ABT	B	0.03%
VOD	F	0.03%
HST	C	0.02%
HRL	D	0.02%
HIG	B	0.02%
MKC	D	0.02%
MCK	B	0.02%
LEA	D	0.02%
A	D	0.02%
QRVO	F	0.02%
RL	B	0.02%
BAX	D	0.02%
VTR	C	0.02%
TT	A	0.02%
XRAY	F	0.02%
CSL	C	0.02%
CMI	A	0.02%
EMN	D	0.02%
VFC	C	0.02%
RJF	A	0.02%
O	D	0.02%
HBAN	A	0.02%
SWK	D	0.02%
REGN	F	0.02%
TRV	B	0.02%
EFX	F	0.02%
DE	A	0.02%
CME	A	0.02%
WBA	F	0.02%
ADM	D	0.02%
BR	A	0.02%
SHW	A	0.02%
SBUX	A	0.02%
CPB	D	0.02%
OMC	C	0.02%
CRM	B	0.02%
BABA	D	0.02%
DB	D	0.02%
CARR	D	0.02%
IBM	C	0.02%
HCA	F	0.02%
HSBC	B	0.02%
GSK	F	0.02%
AZN	D	0.02%
V	A	0.02%
VZ	C	0.02%
ADI	D	0.01%
GLPI	C	0.01%
EA	A	0.01%
WM	A	0.01%
WB	D	0.01%
MRVL	B	0.01%
MDLZ	F	0.01%
GPN	B	0.01%
PLD	D	0.01%
PH	A	0.01%
AMAT	F	0.01%
MSI	B	0.01%
RSG	A	0.01%
AON	A	0.01%
BRX	A	0.01%
EBAY	D	0.01%
MMM	D	0.01%
MAR	B	0.01%
RPRX	D	0.01%
ARE	D	0.01%
SCHW	B	0.01%
DHR	F	0.01%
ZTS	D	0.01%
NXPI	D	0.01%
KO	D	0.01%
KLAC	D	0.01%
HUM	C	0.01%
USB	A	0.01%
BXP	D	0.01%
BSX	B	0.01%
TMO	F	0.01%
BMO	A	0.01%
BK	A	0.01%
BERY	B	0.01%
STT	A	0.01%
AXP	A	0.01%
FIS	C	0.01%
WELL	A	0.01%
CM	A	0.01%
CCI	D	0.01%
AER	B	0.01%
ADBE	C	0.01%
NKE	D	0.01%
MRK	F	0.01%
LOW	D	0.01%
KDP	D	0.01%
HPQ	B	0.01%
CB	C	0.01%
CAT	B	0.01%
CAG	D	0.01%
BNS	A	0.01%
SYY	B	0.01%
AMT	D	0.01%
FDX	B	0.01%
DOW	F	0.01%
DFS	B	0.01%
PFE	D	0.01%
PEP	F	0.01%
LUV	C	0.01%
ICE	C	0.01%
COF	B	0.01%
CI	F	0.01%
TGT	F	0.01%
TD	F	0.01%
BIIB	F	0.01%
SYK	C	0.01%
VTRS	A	0.01%
UNH	C	0.01%
TFC	A	0.01%
AMGN	D	0.01%
NWG	C	0.01%
MUFG	B	0.01%
UPS	C	0.01%
AIG	B	0.01%
MCD	D	0.01%
RY	A	0.01%
DIS	B	0.01%
CMCSA	B	0.01%
GS	A	0.01%
MSFT	F	0.01%
MS	A	0.01%

VCEB Underweight 266 Positions Relative to CLSE

Symbol	Grade	Weight
META	D	-3.3%
APP	B	-2.25%
CVNA	B	-1.85%
ANET	C	-1.83%
WMT	A	-1.82%
IDCC	A	-1.51%
GDDY	A	-1.42%
CVLT	B	-1.4%
DOCU	A	-1.37%
ACIW	B	-1.3%
TSLA	B	-1.22%
JHG	A	-1.21%
NTNX	A	-1.16%
SNEX	B	-1.06%
PLTR	B	-1.02%
LNG	B	-0.97%
SEIC	B	-0.95%
HALO	F	-0.9%
AMRX	C	-0.9%
BFH	B	-0.88%
COR	B	-0.86%
PPC	C	-0.85%
GVA	A	-0.84%
MLI	C	-0.84%
CARG	C	-0.83%
PRIM	A	-0.8%
MO	A	-0.79%
NFLX	A	-0.79%
THC	D	-0.78%
DVA	B	-0.78%
IESC	B	-0.77%
CPNG	D	-0.77%
EME	C	-0.75%
WFC	A	-0.75%
CNX	A	-0.74%
FTI	A	-0.74%
UTHR	C	-0.73%
STRL	B	-0.71%
ZION	B	-0.71%
NRG	B	-0.71%
CEIX	A	-0.7%
GEN	B	-0.68%
VRT	B	-0.68%
UMBF	B	-0.66%
ALSN	B	-0.66%
MTZ	B	-0.66%
AVT	C	-0.66%
MWA	B	-0.65%
CHRW	C	-0.61%
FFIV	B	-0.6%
FTDR	A	-0.58%
AMG	B	-0.58%
LDOS	C	-0.55%
VST	B	-0.55%
RGA	A	-0.55%
SLVM	B	-0.5%
GOOG	C	-0.49%
UI	A	-0.49%
CACI	D	-0.48%
PNW	B	-0.48%
AVA	A	-0.47%
UNP	C	-0.47%
DUOL	A	-0.45%
ALL	A	-0.45%
LPX	B	-0.43%
CTRE	D	-0.42%
SCCO	F	-0.41%
RMD	C	-0.4%
JXN	C	-0.39%
SR	A	-0.38%
R	B	-0.38%
CNA	B	-0.37%
GRMN	B	-0.37%
OUT	A	-0.36%
CCL	B	-0.35%
CDP	C	-0.34%
RGLD	C	-0.32%
CNC	D	-0.31%
PTON	B	-0.31%
LAMR	D	-0.31%
J	F	-0.31%
MPWR	F	-0.3%
VLO	C	-0.29%
IIPR	D	-0.28%
APA	D	-0.25%
VRTX	F	-0.23%
MATX	C	-0.22%
TOL	B	-0.22%
EEFT	B	-0.22%
FLR	B	-0.21%
JLL	D	-0.2%
MUSA	A	-0.2%
ABM	B	-0.19%
BAH	F	-0.18%
KR	B	-0.17%
NTRA	B	-0.17%
BOX	B	-0.17%
JAZZ	B	-0.16%
EXPD	D	-0.14%
FN	D	-0.13%
VCTR	B	-0.12%
VCYT	B	-0.12%
CINF	A	-0.12%
CDE	D	-0.11%
ILMN	D	-0.1%
AEIS	B	-0.07%
INCY	C	-0.07%
HQY	B	-0.07%
QQQ	B	-0.0%
LNTH	D	-0.0%
PENN	C	--0.05%
KNX	B	--0.06%
HGV	B	--0.06%
EXAS	D	--0.07%
RYN	D	--0.07%
COOP	B	--0.07%
CCS	D	--0.07%
BC	C	--0.08%
JOE	F	--0.08%
AES	F	--0.08%
FLYW	C	--0.08%
GNTX	C	--0.09%
JBLU	F	--0.09%
NSC	B	--0.1%
MCW	B	--0.1%
ABG	B	--0.1%
ATO	A	--0.1%
ACVA	B	--0.11%
ENPH	F	--0.11%
CGON	F	--0.11%
EL	F	--0.12%
RBA	A	--0.12%
FL	F	--0.12%
PCH	D	--0.12%
EXR	D	--0.13%
STLD	B	--0.13%
AVAV	D	--0.13%
ALIT	C	--0.13%
BPOP	B	--0.14%
PYCR	C	--0.14%
DAY	B	--0.14%
REXR	F	--0.14%
ARWR	F	--0.14%
MKL	A	--0.14%
AA	B	--0.14%
CZR	F	--0.15%
COLD	D	--0.15%
GTLS	B	--0.15%
CRL	C	--0.15%
RNR	C	--0.15%
DRVN	B	--0.15%
NARI	C	--0.16%
FIVN	C	--0.16%
XPO	B	--0.16%
OSK	B	--0.16%
LGIH	D	--0.16%
DAR	C	--0.16%
ALB	C	--0.16%
UHAL	D	--0.16%
AGO	B	--0.16%
EW	C	--0.16%
SITE	D	--0.16%
SW	A	--0.17%
TEX	D	--0.17%
TREX	C	--0.17%
MDGL	B	--0.17%
LKQ	D	--0.17%
MASI	A	--0.17%
KRG	B	--0.17%
ENOV	C	--0.18%
CHDN	B	--0.18%
UEC	B	--0.18%
EBC	B	--0.18%
AGCO	D	--0.18%
COTY	F	--0.18%
CNH	C	--0.18%
BRKR	D	--0.18%
WAL	B	--0.19%
AIR	B	--0.19%
KNSL	B	--0.2%
SRE	A	--0.2%
GATX	A	--0.2%
BIRK	D	--0.2%
BE	B	--0.21%
AESI	B	--0.21%
NOG	A	--0.21%
WTM	A	--0.21%
PRCT	B	--0.22%
BANC	A	--0.22%
MTN	C	--0.22%
SAIA	B	--0.22%
SUM	B	--0.22%
EQT	B	--0.23%
PSA	D	--0.23%
XYL	D	--0.23%
WTRG	B	--0.24%
ELF	C	--0.24%
IONS	F	--0.24%
GPOR	B	--0.24%
CELH	F	--0.24%
HSY	F	--0.24%
LW	C	--0.25%
BILL	A	--0.26%
NEOG	F	--0.26%
AUR	C	--0.26%
VAL	D	--0.27%
FOUR	B	--0.27%
STNE	F	--0.27%
TEAM	A	--0.27%
MSCI	C	--0.27%
PTEN	C	--0.27%
MNST	C	--0.28%
SOFI	A	--0.28%
ESTC	C	--0.29%
MDB	C	--0.29%
XP	F	--0.29%
MKTX	D	--0.29%
CYTK	F	--0.3%
LYV	A	--0.3%
NDAQ	A	--0.3%
APLS	D	--0.3%
APTV	D	--0.32%
GTLB	B	--0.32%
VVV	F	--0.33%
CCOI	B	--0.33%
LPLA	A	--0.34%
ZBRA	B	--0.34%
ABNB	C	--0.34%
INSP	D	--0.34%
FCNCA	A	--0.35%
APO	B	--0.35%
AFRM	B	--0.35%
CACC	D	--0.36%
COHR	B	--0.36%
BBIO	F	--0.36%
ZI	D	--0.36%
ON	D	--0.39%
SATS	D	--0.4%
BA	F	--0.4%
RBLX	C	--0.41%
PINS	D	--0.41%
U	C	--0.41%
RIVN	F	--0.42%
TTWO	A	--0.43%
WBD	C	--0.43%
SNPS	B	--0.44%
ALGM	D	--0.45%
DV	C	--0.45%
CGNX	C	--0.45%
GE	D	--0.46%
CDNS	B	--0.46%
MRNA	F	--0.47%
SMCI	F	--0.47%
RH	B	--0.47%
CFLT	B	--0.47%
FND	C	--0.53%
BRZE	C	--0.56%
FIVE	F	--0.56%
NWS	B	--0.57%
WST	C	--0.59%
LITE	B	--0.6%
POOL	C	--0.61%
DXCM	D	--0.63%
WDC	D	--0.65%
LSCC	D	--0.7%
FSLR	F	--1.26%