VCEB vs. SHRT ETF Comparison

Comparison of Vanguard ESG U.S. Corporate Bond ETF (VCEB) to Gotham Short Strategies ETF (SHRT)

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

SHRT

Gotham Short Strategies ETF

SHRT Description

The fund is an actively-managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing under normal circumstances in long and short positions of equity and equity-related securities (i.e., swaps), primarily of companies traded on U.S. markets. The fund"s sub-adviser, Gotham Asset Management, LLC ("Gotham" or the "Sub-Adviser") seeks to maintain the fund"s net equity exposure, which is the value of the fund"s long positions minus its short positions, at approximately 50% net short.

Grade (RS Rating)

Last Trade

$7.55

Average Daily Volume

2,487

Number of Holdings ^*

200

* may have additional holdings in another (foreign) market

Performance

Period	VCEB	SHRT
30 Days	-0.25%	-7.59%
60 Days	-2.76%	-8.76%
90 Days	-1.73%	-8.43%
12 Months	7.45%	-6.99%

33 Overlapping Holdings

Symbol	Grade	Weight in VCEB	Weight in SHRT	Overlap
ABBV	D	0.03%	0.48%	0.03%
AMAT	F	0.01%	0.31%	0.01%
BIIB	F	0.01%	1.36%	0.01%
CF	B	0.02%	0.34%	0.02%
CHTR	C	0.02%	0.82%	0.02%
CI	F	0.01%	0.31%	0.01%
DD	D	0.06%	0.35%	0.06%
EFX	F	0.02%	0.2%	0.02%
EMN	D	0.02%	0.16%	0.02%
FOXA	B	0.01%	0.18%	0.01%
GM	B	0.01%	2.09%	0.01%
HAS	D	0.03%	0.35%	0.03%
KLAC	D	0.01%	0.8%	0.01%
LRCX	F	0.01%	1.84%	0.01%
MRVL	B	0.01%	0.2%	0.01%
MU	D	0.03%	0.82%	0.03%
PFE	D	0.01%	0.65%	0.01%
PWR	A	0.03%	0.02%	0.02%
QRVO	F	0.02%	0.88%	0.02%
REGN	F	0.02%	0.08%	0.02%
SYK	C	0.01%	0.23%	0.01%
TGT	F	0.01%	2.05%	0.01%
TMO	F	0.01%	0.12%	0.01%
TSN	B	0.01%	1.15%	0.01%
UHS	D	0.02%	0.8%	0.02%
UPS	C	0.01%	0.8%	0.01%
VMC	B	0.02%	0.36%	0.02%
VRSN	F	0.03%	0.07%	0.03%
VTRS	A	0.01%	0.14%	0.01%
WBA	F	0.02%	0.92%	0.02%
XRAY	F	0.02%	0.31%	0.02%
ZBH	C	0.03%	0.01%	0.01%
ZTS	D	0.01%	0.33%	0.01%

VCEB Overweight 212 Positions Relative to SHRT

Symbol	Grade	Weight
DT	C	0.19%
MTB	A	0.07%
TJX	A	0.07%
MOS	F	0.06%
WEST	C	0.06%
PGR	A	0.05%
AFL	B	0.05%
MDT	D	0.05%
EQH	B	0.05%
MCHP	D	0.04%
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%
EXPE	B	0.04%
FTV	C	0.03%
EQR	B	0.03%
DGX	A	0.03%
CMA	A	0.03%
BWA	D	0.03%
BG	F	0.03%
SJM	D	0.03%
ROP	B	0.03%
RF	A	0.03%
EG	C	0.03%
PPG	F	0.03%
DOC	D	0.03%
ORLY	B	0.03%
AMP	A	0.03%
ACGL	D	0.03%
NVR	D	0.03%
LH	C	0.03%
K	A	0.03%
IFF	D	0.03%
LLY	F	0.03%
NTRS	A	0.03%
BHF	B	0.03%
SYF	B	0.03%
CFG	B	0.03%
GIS	D	0.03%
DG	F	0.03%
WAB	B	0.03%
ITW	B	0.03%
ADP	B	0.03%
BDX	F	0.03%
ETN	A	0.03%
EQIX	A	0.03%
MA	C	0.03%
ALLY	C	0.03%
BMY	B	0.03%
ABT	B	0.03%
VOD	F	0.03%
HUN	F	0.02%
HST	C	0.02%
HRL	D	0.02%
HIG	B	0.02%
MKC	D	0.02%
MCK	B	0.02%
LEA	D	0.02%
AJG	B	0.02%
NTAP	C	0.02%
A	D	0.02%
APH	A	0.02%
RL	B	0.02%
BEN	C	0.02%
BAX	D	0.02%
VTR	C	0.02%
TT	A	0.02%
CAH	B	0.02%
CSL	C	0.02%
CMI	A	0.02%
VFC	C	0.02%
RJF	A	0.02%
AWK	D	0.02%
O	D	0.02%
MLM	B	0.02%
HBAN	A	0.02%
BLK	C	0.02%
SWK	D	0.02%
TRV	B	0.02%
DLTR	F	0.02%
DE	A	0.02%
CME	A	0.02%
ADM	D	0.02%
BR	A	0.02%
BKNG	A	0.02%
SHW	A	0.02%
SBUX	A	0.02%
CPB	D	0.02%
GLW	B	0.02%
OMC	C	0.02%
NEM	D	0.02%
APD	A	0.02%
FITB	A	0.02%
CRM	B	0.02%
BABA	D	0.02%
DB	D	0.02%
CSCO	B	0.02%
CARR	D	0.02%
IBM	C	0.02%
HCA	F	0.02%
GOOGL	C	0.02%
HSBC	B	0.02%
AVGO	D	0.02%
GSK	F	0.02%
AZN	D	0.02%
V	A	0.02%
ORCL	B	0.02%
BAC	A	0.02%
VZ	C	0.02%
EXP	A	0.01%
ADI	D	0.01%
GLPI	C	0.01%
EA	A	0.01%
WM	A	0.01%
WB	D	0.01%
MDLZ	F	0.01%
GPN	B	0.01%
PLD	D	0.01%
PH	A	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%
KEY	B	0.01%
RPRX	D	0.01%
ARE	D	0.01%
SCHW	B	0.01%
DLR	B	0.01%
DHR	F	0.01%
TXN	C	0.01%
NXPI	D	0.01%
MET	A	0.01%
KO	D	0.01%
HUM	C	0.01%
USB	A	0.01%
BXP	D	0.01%
BSX	B	0.01%
BMO	A	0.01%
BK	A	0.01%
BERY	B	0.01%
STT	A	0.01%
AXP	A	0.01%
PYPL	B	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%
NVDA	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%
SPG	B	0.01%
PRU	A	0.01%
AMT	D	0.01%
FDX	B	0.01%
DOW	F	0.01%
DFS	B	0.01%
PNC	B	0.01%
PEP	F	0.01%
AL	B	0.01%
LUV	C	0.01%
ICE	C	0.01%
HPE	B	0.01%
COF	B	0.01%
TD	F	0.01%
UNH	C	0.01%
TFC	A	0.01%
PG	A	0.01%
AMGN	D	0.01%
NWG	C	0.01%
MUFG	B	0.01%
JNJ	D	0.01%
QCOM	F	0.01%
AIG	B	0.01%
MCD	D	0.01%
INTC	D	0.01%
HD	A	0.01%
GILD	C	0.01%
RY	A	0.01%
C	A	0.01%
DIS	B	0.01%
AMZN	C	0.01%
CMCSA	B	0.01%
DELL	C	0.01%
JPM	A	0.01%
AAPL	C	0.01%
TMUS	B	0.01%
GS	A	0.01%
T	A	0.01%
MSFT	F	0.01%
MS	A	0.01%
CVS	D	0.01%

VCEB Underweight 167 Positions Relative to SHRT

Symbol	Grade	Weight
THC	D	-1.9%
LPX	B	-1.65%
FMC	D	-1.45%
CHWY	B	-1.34%
CVX	A	-1.31%
CRUS	D	-1.26%
SWKS	F	-1.21%
ELAN	D	-1.13%
EOG	A	-1.12%
RVTY	F	-1.12%
PPC	C	-1.09%
GTLS	B	-1.08%
QGEN	D	-1.01%
ZBRA	B	-1.0%
JBHT	C	-0.9%
LII	A	-0.84%
MATX	C	-0.83%
JCI	C	-0.81%
NOC	D	-0.81%
MTZ	B	-0.8%
D	C	-0.8%
TKO	B	-0.78%
CTLT	B	-0.75%
INGR	B	-0.73%
FCX	D	-0.71%
MKSI	C	-0.71%
CEG	D	-0.69%
OVV	B	-0.69%
ICUI	D	-0.67%
STX	D	-0.66%
WDC	D	-0.65%
LHX	C	-0.65%
CROX	D	-0.64%
J	F	-0.63%
CL	D	-0.63%
MOH	F	-0.63%
BALL	D	-0.62%
MUR	D	-0.61%
MRO	B	-0.59%
HOLX	D	-0.58%
ENPH	F	-0.57%
KMX	B	-0.56%
EL	F	-0.56%
RGEN	D	-0.55%
POST	C	-0.55%
ANET	C	-0.51%
EME	C	-0.5%
AVNT	B	-0.5%
CNX	A	-0.5%
ECL	D	-0.5%
AVTR	F	-0.49%
NCLH	B	-0.48%
FSS	B	-0.47%
CLX	B	-0.46%
EXEL	B	-0.46%
SCCO	F	-0.45%
TPX	B	-0.44%
HALO	F	-0.44%
GNRC	B	-0.43%
BMRN	D	-0.42%
CCK	C	-0.4%
MAS	D	-0.39%
SLGN	A	-0.38%
LTH	C	-0.37%
NSC	B	-0.35%
TRU	D	-0.34%
IQV	D	-0.33%
GD	F	-0.33%
MSGS	A	-0.32%
VMI	B	-0.32%
JAZZ	B	-0.3%
LKQ	D	-0.3%
HES	B	-0.3%
TWLO	A	-0.29%
BLD	D	-0.29%
MMS	F	-0.29%
CTRA	B	-0.27%
SO	D	-0.27%
EMR	A	-0.26%
UI	A	-0.26%
ONTO	D	-0.26%
TXRH	C	-0.25%
ASH	D	-0.24%
BPMC	C	-0.24%
SKYW	B	-0.23%
WSM	B	-0.23%
ILMN	D	-0.22%
NFG	A	-0.22%
LEVI	F	-0.22%
ALLE	D	-0.21%
FLS	B	-0.21%
PSN	D	-0.21%
BAH	F	-0.2%
HIMS	B	-0.2%
COTY	F	-0.2%
EW	C	-0.19%
TYL	B	-0.19%
CHDN	B	-0.18%
H	B	-0.17%
NBIX	C	-0.17%
ALKS	B	-0.17%
GFS	C	-0.16%
GDDY	A	-0.16%
ACIW	B	-0.16%
ESI	A	-0.16%
ADMA	B	-0.15%
APPF	B	-0.15%
KTB	B	-0.15%
VLTO	D	-0.14%
SHAK	C	-0.14%
RKLB	B	-0.13%
SWX	B	-0.13%
LYFT	C	-0.13%
ISRG	A	-0.12%
INFA	D	-0.12%
PODD	C	-0.11%
GMED	A	-0.11%
CNI	D	-0.11%
IDXX	F	-0.11%
PNR	A	-0.1%
IPG	D	-0.1%
AWI	A	-0.09%
FCN	D	-0.09%
SEM	B	-0.09%
OLED	D	-0.09%
TPL	A	-0.09%
KEX	C	-0.09%
PEN	B	-0.09%
SPOT	B	-0.08%
RGLD	C	-0.08%
PLXS	B	-0.08%
IGT	F	-0.08%
NOV	C	-0.08%
PTC	A	-0.07%
CHD	B	-0.07%
CWAN	B	-0.07%
ABG	B	-0.07%
ROST	C	-0.06%
PRIM	A	-0.06%
SNDR	B	-0.05%
NXST	C	-0.05%
QTWO	A	-0.05%
FTDR	A	-0.04%
DTM	B	-0.04%
NTRA	B	-0.03%
MPWR	F	-0.03%
UBER	D	-0.03%
CMC	B	-0.03%
AOS	F	-0.02%
TER	D	-0.02%
DNB	B	-0.02%
BFAM	D	-0.02%
HSIC	B	-0.02%
APG	B	-0.02%
MTCH	D	-0.02%
TTEK	F	-0.02%
BLDR	D	-0.02%
R	B	-0.01%
RUSHA	C	-0.01%
GEHC	F	-0.01%
IAC	D	-0.01%
SITM	B	-0.01%
DOX	D	-0.01%
EHC	B	-0.01%
DVA	B	-0.01%
OPCH	D	-0.01%
CRVL	A	-0.0%