VCEB vs. QVML ETF Comparison

Comparison of Vanguard ESG U.S. Corporate Bond ETF (VCEB) to Invesco S&P 500 QVM Multi-factor ETF (QVML)

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

QVML

Invesco S&P 500 QVM Multi-factor ETF

QVML Description

The investment seeks to track the investment results of the S&P 500 ® Quality, Value & Momentum Top 90% Multi- Factor Index (the “underlying index”). The fund generally will invest at least 90% of its total assets in the securities that comprise the index. S&P Dow Jones Indices LLC compiles, maintains and calculates the index, which is designed to track the performance of a subset of securities from the S&P 500 ® Index that exhibit the investment style criteria of quality, value and momentum. The index is composed of securities with multi-factor scores representing the top 90% of the parent index, as determined by the index provider. It is non-diversified.

Grade (RS Rating)

Last Trade

$35.16

Average Daily Volume

1,434

Number of Holdings ^*

447

* may have additional holdings in another (foreign) market

Performance

Period	VCEB	QVML
30 Days	-0.25%	2.51%
60 Days	-2.76%	4.26%
90 Days	-1.73%	5.72%
12 Months	7.45%	32.76%

190 Overlapping Holdings

	Symbol	Grade	Weight in VCEB	Weight in QVML	Overlap
	A	D	0.02%	0.08%	0.02%
	AAPL	C	0.01%	7.12%	0.01%
	ABBV	D	0.03%	0.64%	0.03%
	ABT	B	0.03%	0.41%	0.03%
	ACGL	D	0.03%	0.08%	0.03%
	ADBE	C	0.01%	0.49%	0.01%
	ADI	D	0.01%	0.23%	0.01%
	ADM	D	0.02%	0.06%	0.02%
	ADP	B	0.03%	0.26%	0.03%
	AFL	B	0.05%	0.12%	0.05%
	AIG	B	0.01%	0.11%	0.01%
	AJG	B	0.02%	0.13%	0.02%
	AMAT	F	0.01%	0.34%	0.01%
	AMP	A	0.03%	0.12%	0.03%
	AMZN	C	0.01%	3.94%	0.01%
	AON	A	0.01%	0.17%	0.01%
	APH	A	0.02%	0.2%	0.02%
	ARE	D	0.01%	0.04%	0.01%
	AVGO	D	0.02%	1.61%	0.02%
	AWK	D	0.02%	0.05%	0.02%
	AXP	A	0.01%	0.35%	0.01%
	AZO	C	0.04%	0.12%	0.04%
	BAC	A	0.02%	0.69%	0.02%
	BAX	D	0.02%	0.03%	0.02%
	BDX	F	0.03%	0.14%	0.03%
	BEN	C	0.02%	0.01%	0.01%
	BG	F	0.03%	0.03%	0.03%
	BK	A	0.01%	0.12%	0.01%
	BKNG	A	0.02%	0.36%	0.02%
	BLK	C	0.02%	0.32%	0.02%
	BR	A	0.02%	0.06%	0.02%
	BSX	B	0.01%	0.27%	0.01%
	BWA	D	0.03%	0.02%	0.02%
	BXP	D	0.01%	0.02%	0.01%
	C	A	0.01%	0.3%	0.01%
	CAG	D	0.01%	0.03%	0.01%
	CAH	B	0.02%	0.06%	0.02%
	CARR	D	0.02%	0.13%	0.02%
	CAT	B	0.01%	0.42%	0.01%
	CB	C	0.01%	0.25%	0.01%
	CF	B	0.02%	0.04%	0.02%
	CFG	B	0.03%	0.05%	0.03%
	CHTR	C	0.02%	0.09%	0.02%
	CI	F	0.01%	0.2%	0.01%
	CMCSA	B	0.01%	0.37%	0.01%
	CME	A	0.02%	0.17%	0.02%
	CMI	A	0.02%	0.11%	0.02%
	COF	B	0.01%	0.16%	0.01%
	CPB	D	0.02%	0.02%	0.02%
	CPT	B	0.04%	0.03%	0.03%
	CRM	B	0.02%	0.69%	0.02%
	CSCO	B	0.02%	0.51%	0.02%
	CTAS	B	0.04%	0.15%	0.04%
	CVS	D	0.01%	0.15%	0.01%
	DD	D	0.06%	0.08%	0.06%
	DE	A	0.02%	0.21%	0.02%
	DFS	B	0.01%	0.1%	0.01%
	DG	F	0.03%	0.04%	0.03%
	DGX	A	0.03%	0.04%	0.03%
	DHR	F	0.01%	0.33%	0.01%
	DIS	B	0.01%	0.43%	0.01%
	DLR	B	0.01%	0.12%	0.01%
	DLTR	F	0.02%	0.04%	0.02%
	DOC	D	0.03%	0.03%	0.03%
	DOW	F	0.01%	0.07%	0.01%
	EA	A	0.01%	0.09%	0.01%
	EBAY	D	0.01%	0.06%	0.01%
	EFX	F	0.02%	0.07%	0.02%
	EG	C	0.03%	0.04%	0.03%
	EMN	D	0.02%	0.03%	0.02%
	EQR	B	0.03%	0.05%	0.03%
	ETN	A	0.03%	0.31%	0.03%
	EXPE	B	0.04%	0.05%	0.04%
	FDX	B	0.01%	0.15%	0.01%
	FIS	C	0.01%	0.1%	0.01%
	FITB	A	0.02%	0.07%	0.02%
	FOXA	B	0.01%	0.04%	0.01%
	FTV	C	0.03%	0.06%	0.03%
	GILD	C	0.01%	0.24%	0.01%
	GIS	D	0.03%	0.08%	0.03%
	GLW	B	0.02%	0.08%	0.02%
	GM	B	0.01%	0.15%	0.01%
	GPN	B	0.01%	0.06%	0.01%
	GS	A	0.01%	0.43%	0.01%
	GWW	B	0.04%	0.11%	0.04%
	HBAN	A	0.02%	0.06%	0.02%
	HCA	F	0.02%	0.14%	0.02%
	HD	A	0.01%	0.84%	0.01%
	HIG	B	0.02%	0.07%	0.02%
	HPE	B	0.01%	0.07%	0.01%
	HPQ	B	0.01%	0.07%	0.01%
	HRL	D	0.02%	0.02%	0.02%
	HST	C	0.02%	0.03%	0.02%
	HUM	C	0.01%	0.08%	0.01%
	IBM	C	0.02%	0.39%	0.02%
	ICE	C	0.01%	0.19%	0.01%
	IFF	D	0.03%	0.05%	0.03%
	INTC	D	0.01%	0.25%	0.01%
	ITW	B	0.03%	0.16%	0.03%
	JNJ	D	0.01%	0.77%	0.01%
	JPM	A	0.01%	1.59%	0.01%
	K	A	0.03%	0.05%	0.03%
	KDP	D	0.01%	0.07%	0.01%
	KEY	B	0.01%	0.04%	0.01%
	KLAC	D	0.01%	0.2%	0.01%
	KMB	D	0.04%	0.09%	0.04%
	KO	D	0.01%	0.52%	0.01%
	LEN	D	0.04%	0.09%	0.04%
	LH	C	0.03%	0.05%	0.03%
	LLY	F	0.03%	1.38%	0.03%
	LRCX	F	0.01%	0.22%	0.01%
	LUV	C	0.01%	0.04%	0.01%
	MA	C	0.03%	0.89%	0.03%
	MCHP	D	0.04%	0.08%	0.04%
	MCK	B	0.02%	0.18%	0.02%
	MDLZ	F	0.01%	0.18%	0.01%
	MDT	D	0.05%	0.24%	0.05%
	MET	A	0.01%	0.11%	0.01%
	MKC	D	0.02%	0.04%	0.02%
	MLM	B	0.02%	0.08%	0.02%
	MMC	B	0.04%	0.23%	0.04%
	MMM	D	0.01%	0.16%	0.01%
	MOS	F	0.06%	0.02%	0.02%
	MRK	F	0.01%	0.54%	0.01%
	MS	A	0.01%	0.37%	0.01%
	MSFT	F	0.01%	6.58%	0.01%
	MSI	B	0.01%	0.18%	0.01%
	MTB	A	0.07%	0.08%	0.07%
	MU	D	0.03%	0.25%	0.03%
	NKE	D	0.01%	0.2%	0.01%
	NOW	A	0.04%	0.44%	0.04%
	NTAP	C	0.02%	0.05%	0.02%
	NTRS	A	0.03%	0.05%	0.03%
	NVDA	C	0.01%	7.76%	0.01%
	NVR	D	0.03%	0.06%	0.03%
	NXPI	D	0.01%	0.13%	0.01%
	O	D	0.02%	0.1%	0.02%
	OMC	C	0.02%	0.04%	0.02%
	PEP	F	0.01%	0.47%	0.01%
	PG	A	0.01%	0.82%	0.01%
	PGR	A	0.05%	0.32%	0.05%
	PH	A	0.01%	0.19%	0.01%
	PLD	D	0.01%	0.22%	0.01%
	PNC	B	0.01%	0.18%	0.01%
	PPG	F	0.03%	0.06%	0.03%
	PRU	A	0.01%	0.1%	0.01%
	PWR	A	0.03%	0.1%	0.03%
	PYPL	B	0.01%	0.2%	0.01%
	QCOM	F	0.01%	0.41%	0.01%
	QRVO	F	0.02%	0.01%	0.01%
	REGN	F	0.02%	0.18%	0.02%
	RF	A	0.03%	0.05%	0.03%
	RJF	A	0.02%	0.06%	0.02%
	RL	B	0.02%	0.02%	0.02%
	ROP	B	0.03%	0.13%	0.03%
	RSG	A	0.01%	0.09%	0.01%
	SCHW	B	0.01%	0.26%	0.01%
	SHW	A	0.02%	0.19%	0.02%
	SPG	B	0.01%	0.13%	0.01%
	STT	A	0.01%	0.06%	0.01%
	SWK	D	0.02%	0.03%	0.02%
	SYF	B	0.03%	0.06%	0.03%
	SYK	C	0.01%	0.27%	0.01%
	SYY	B	0.01%	0.08%	0.01%
	T	A	0.01%	0.31%	0.01%
	TFC	A	0.01%	0.14%	0.01%
	TGT	F	0.01%	0.16%	0.01%
	TJX	A	0.07%	0.28%	0.07%
	TMO	F	0.01%	0.43%	0.01%
	TMUS	B	0.01%	0.26%	0.01%
	TRV	B	0.02%	0.12%	0.02%
	TSN	B	0.01%	0.04%	0.01%
	TT	A	0.02%	0.2%	0.02%
	TXN	C	0.01%	0.42%	0.01%
	UHS	D	0.02%	0.03%	0.02%
	UNH	C	0.01%	1.15%	0.01%
	UPS	C	0.01%	0.2%	0.01%
	USB	A	0.01%	0.17%	0.01%
	V	A	0.02%	0.99%	0.02%
	VMC	B	0.02%	0.08%	0.02%
	VRSK	A	0.04%	0.09%	0.04%
	VTR	C	0.02%	0.05%	0.02%
	VTRS	A	0.01%	0.03%	0.01%
	VZ	C	0.02%	0.34%	0.02%
	WAB	B	0.03%	0.08%	0.03%
	WBA	F	0.02%	0.01%	0.01%
	WELL	A	0.01%	0.16%	0.01%
	WM	A	0.01%	0.17%	0.01%
	ZBH	C	0.03%	0.05%	0.03%
	ZTS	D	0.01%	0.16%	0.01%

VCEB Overweight 55 Positions Relative to QVML

	Symbol	Grade	Weight
	DT	C	0.19%
	WEST	C	0.06%
	EQH	B	0.05%
	OTIS	C	0.04%
	STLA	F	0.04%
	VRSN	F	0.03%
	CMA	A	0.03%
	SJM	D	0.03%
	ORLY	B	0.03%
	HAS	D	0.03%
	BHF	B	0.03%
	EQIX	A	0.03%
	ALLY	C	0.03%
	BMY	B	0.03%
	VOD	F	0.03%
	HUN	F	0.02%
	LEA	D	0.02%
	XRAY	F	0.02%
	CSL	C	0.02%
	VFC	C	0.02%
	SBUX	A	0.02%
	NEM	D	0.02%
	APD	A	0.02%
	BABA	D	0.02%
	DB	D	0.02%
	GOOGL	C	0.02%
	HSBC	B	0.02%
	GSK	F	0.02%
	AZN	D	0.02%
	ORCL	B	0.02%
	EXP	A	0.01%
	GLPI	C	0.01%
	WB	D	0.01%
	MRVL	B	0.01%
	BRX	A	0.01%
	MAR	B	0.01%
	RPRX	D	0.01%
	BMO	A	0.01%
	BERY	B	0.01%
	CM	A	0.01%
	CCI	D	0.01%
	AER	B	0.01%
	LOW	D	0.01%
	BNS	A	0.01%
	AMT	D	0.01%
	PFE	D	0.01%
	AL	B	0.01%
	TD	F	0.01%
	BIIB	F	0.01%
	AMGN	D	0.01%
	NWG	C	0.01%
	MUFG	B	0.01%
	MCD	D	0.01%
	RY	A	0.01%
	DELL	C	0.01%

VCEB Underweight 257 Positions Relative to QVML

	Symbol	Grade	Weight
	GOOG	C	-4.33%
	META	D	-2.71%
	BRK.A	B	-1.87%
	XOM	B	-1.22%
	COST	B	-0.85%
	NFLX	A	-0.78%
	WMT	A	-0.74%
	CVX	A	-0.63%
	WFC	A	-0.58%
	ACN	C	-0.47%
	AMD	F	-0.47%
	LIN	D	-0.47%
	GE	D	-0.43%
	PM	B	-0.41%
	ISRG	A	-0.4%
	INTU	C	-0.4%
	SPGI	C	-0.34%
	RTX	C	-0.34%
	UBER	D	-0.33%
	HON	B	-0.32%
	COP	C	-0.31%
	UNP	C	-0.31%
	NEE	D	-0.31%
	PANW	C	-0.28%
	BX	A	-0.27%
	VRTX	F	-0.27%
	FI	A	-0.26%
	LMT	D	-0.24%
	KKR	A	-0.22%
	ANET	C	-0.21%
	MO	A	-0.2%
	ELV	F	-0.2%
	SNPS	B	-0.19%
	SO	D	-0.19%
	DUK	C	-0.18%
	CDNS	B	-0.18%
	EOG	A	-0.18%
	GEV	B	-0.18%
	CRWD	B	-0.18%
	CMG	B	-0.17%
	CEG	D	-0.16%
	CL	D	-0.16%
	MCO	B	-0.16%
	EMR	A	-0.16%
	WMB	A	-0.15%
	NOC	D	-0.15%
	CSX	B	-0.15%
	OKE	A	-0.14%
	ADSK	A	-0.14%
	GD	F	-0.14%
	FCX	D	-0.14%
	SLB	C	-0.14%
	URI	B	-0.13%
	FTNT	C	-0.13%
	ABNB	C	-0.13%
	NSC	B	-0.13%
	PCAR	B	-0.13%
	PSX	C	-0.13%
	MPC	D	-0.13%
	ECL	D	-0.13%
	RCL	A	-0.12%
	SRE	A	-0.12%
	JCI	C	-0.12%
	PSA	D	-0.11%
	VLO	C	-0.11%
	ALL	A	-0.11%
	CPRT	A	-0.11%
	KMI	A	-0.11%
	D	C	-0.1%
	BKR	B	-0.1%
	PAYX	C	-0.1%
	AME	A	-0.1%
	FAST	B	-0.1%
	F	C	-0.1%
	ROST	C	-0.1%
	AEP	D	-0.1%
	VST	B	-0.1%
	LHX	C	-0.1%
	DHI	D	-0.1%
	ODFL	B	-0.09%
	EW	C	-0.09%
	KR	B	-0.09%
	COR	B	-0.09%
	CTSH	B	-0.09%
	IT	C	-0.09%
	CTVA	C	-0.09%
	IR	B	-0.09%
	PEG	A	-0.09%
	KVUE	A	-0.09%
	TRGP	B	-0.09%
	AXON	A	-0.09%
	HES	B	-0.09%
	PCG	A	-0.09%
	HWM	A	-0.09%
	XEL	A	-0.08%
	EXC	C	-0.08%
	MNST	C	-0.08%
	STZ	D	-0.08%
	FANG	D	-0.08%
	OXY	D	-0.08%
	LULU	C	-0.08%
	NUE	C	-0.08%
	IQV	D	-0.08%
	CBRE	B	-0.08%
	DAL	C	-0.08%
	ETR	B	-0.07%
	XYL	D	-0.07%
	AVB	B	-0.07%
	ON	D	-0.07%
	NDAQ	A	-0.07%
	ED	D	-0.07%
	VICI	C	-0.07%
	EIX	B	-0.07%
	GRMN	B	-0.07%
	WTW	B	-0.07%
	RMD	C	-0.07%
	CNC	D	-0.07%
	GEHC	F	-0.07%
	IDXX	F	-0.07%
	ROK	B	-0.07%
	EXR	D	-0.07%
	TYL	B	-0.06%
	CPAY	A	-0.06%
	BRO	B	-0.06%
	TROW	B	-0.06%
	UAL	A	-0.06%
	PHM	D	-0.06%
	KEYS	A	-0.06%
	DVN	F	-0.06%
	DOV	A	-0.06%
	SW	A	-0.06%
	DECK	A	-0.06%
	GDDY	A	-0.06%
	TSCO	D	-0.06%
	MPWR	F	-0.06%
	HAL	C	-0.06%
	WEC	A	-0.06%
	CSGP	D	-0.06%
	ANSS	B	-0.06%
	TTWO	A	-0.06%
	PKG	A	-0.05%
	ES	D	-0.05%
	STE	F	-0.05%
	WY	D	-0.05%
	LYB	F	-0.05%
	STLD	B	-0.05%
	BLDR	D	-0.05%
	TDY	B	-0.05%
	VLTO	D	-0.05%
	AEE	A	-0.05%
	WAT	B	-0.05%
	LDOS	C	-0.05%
	CINF	A	-0.05%
	HUBB	B	-0.05%
	PTC	A	-0.05%
	PPL	B	-0.05%
	CCL	B	-0.05%
	DTE	C	-0.05%
	WBD	C	-0.05%
	KHC	F	-0.05%
	CDW	F	-0.05%
	WST	C	-0.05%
	HSY	F	-0.05%
	EQT	B	-0.05%
	CHD	B	-0.05%
	GEN	B	-0.04%
	TER	D	-0.04%
	EXPD	D	-0.04%
	TXT	D	-0.04%
	ULTA	F	-0.04%
	PNR	A	-0.04%
	MAS	D	-0.04%
	MRO	B	-0.04%
	MAA	B	-0.04%
	BBY	D	-0.04%
	MOH	F	-0.04%
	IEX	B	-0.04%
	GPC	D	-0.04%
	HOLX	D	-0.04%
	FDS	B	-0.04%
	J	F	-0.04%
	CNP	B	-0.04%
	BALL	D	-0.04%
	WRB	A	-0.04%
	PFG	D	-0.04%
	ESS	B	-0.04%
	SNA	A	-0.04%
	CMS	C	-0.04%
	INVH	D	-0.04%
	FSLR	F	-0.04%
	CTRA	B	-0.04%
	DRI	B	-0.04%
	NRG	B	-0.04%
	IP	B	-0.04%
	CBOE	B	-0.04%
	ZBRA	B	-0.04%
	FE	C	-0.04%
	WDC	D	-0.04%
	ATO	A	-0.04%
	DAY	B	-0.03%
	AIZ	A	-0.03%
	GNRC	B	-0.03%
	REG	B	-0.03%
	JKHY	D	-0.03%
	ALLE	D	-0.03%
	JNPR	F	-0.03%
	INCY	C	-0.03%
	MRNA	F	-0.03%
	TPR	B	-0.03%
	UDR	B	-0.03%
	CHRW	C	-0.03%
	KMX	B	-0.03%
	POOL	C	-0.03%
	EPAM	C	-0.03%
	AKAM	D	-0.03%
	EVRG	A	-0.03%
	ROL	B	-0.03%
	FFIV	B	-0.03%
	RVTY	F	-0.03%
	SWKS	F	-0.03%
	LNT	A	-0.03%
	JBHT	C	-0.03%
	AMCR	D	-0.03%
	NWSA	B	-0.03%
	L	A	-0.03%
	NI	A	-0.03%
	APTV	D	-0.03%
	ALGN	D	-0.03%
	KIM	A	-0.03%
	AVY	D	-0.03%
	JBL	B	-0.03%
	FMC	D	-0.02%
	MHK	D	-0.02%
	CE	F	-0.02%
	DVA	B	-0.02%
	FRT	B	-0.02%
	HII	D	-0.02%
	IVZ	B	-0.02%
	CZR	F	-0.02%
	SMCI	F	-0.02%
	SOLV	C	-0.02%
	TFX	F	-0.02%
	HSIC	B	-0.02%
	AOS	F	-0.02%
	GL	B	-0.02%
	MKTX	D	-0.02%
	APA	D	-0.02%
	MGM	D	-0.02%
	CRL	C	-0.02%
	PAYC	B	-0.02%
	PNW	B	-0.02%
	LKQ	D	-0.02%
	NCLH	B	-0.02%
	TAP	C	-0.02%
	LW	C	-0.02%
	IPG	D	-0.02%
	PARA	C	-0.01%

VCEB: Top Represented Industries & Keywords

Industries: Banks - Global Drug Manufacturers - Major Banks - Regional - US Semiconductors Packaged Foods Business Services Credit Services Asset Management Chemicals Diagnostics & Research Diversified Industrials Medical Devices Specialty Retail Telecom Services Capital Markets Health Care Plans Insurance - Diversified Insurance - Life Software - Application Beverages - Soft Drinks

Keywords: S&P 500 Nasdaq 100 Bank Dow Jones Component Insurance Banking Computing Investment Bank Financial Products Cash Management Commercial Banking Medicine Insurance Products Real Estate Investment Trust Disability Investment Management Asset Management Services Investment Banking Telecommunications Electronics

QVML: Top Represented Industries & Keywords

Industries: Diversified Industrials Software - Application Utilities - Regulated Electric Semiconductors Business Services Asset Management Diagnostics & Research Oil & Gas E&P Banks - Regional - US Capital Markets Medical Instruments & Supplies Packaged Foods Aerospace & Defense Credit Services Health Care Plans Information Technology Services Insurance - Property & Casualty Medical Devices REIT - Residential Specialty Retail

Keywords: S&P 500 Nasdaq 100 Natural Gas Electricity Insurance Computing Dow Jones Component Electronics Aerospace Real Estate Investment Trust Bank Chemical Banking Medicine Semiconductor Telecommunications Insurance Products Petroleum Industry Investment Bank Mobile Devices