VLU vs. EQAL ETF Comparison

Comparison of SPDR S&P 1500 Value Tilt ETF (VLU) to PowerShares Russell 1000 Equal Weight Portfolio (EQAL)

VLU

SPDR S&P 1500 Value Tilt ETF

VLU Description

The investment seeks investment results that, before fees and expenses, correspond generally to the total return performance of the S&P 1500 Low Valuation Tilt Index (the "index"). The fund employs a sampling strategy in seeking to track the index. It generally invests substantially all, but at least 80%, of its total assets in the securities. The index applies an alternative weighting methodology to the S&P Composite 1500 Index so that stocks with relatively low valuations are overweight relative to the S&P Composite 1500 Index and stocks with relatively high valuations are underweight. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$172.59

Average Daily Volume

6,009

Number of Holdings ^*

1436

* may have additional holdings in another (foreign) market

EQAL

PowerShares Russell 1000 Equal Weight Portfolio

EQAL Description

The investment seeks investment results that generally correspond (before fees and expenses) to the price and yield of the Russell 1000® Equal Weight Index. The fund generally will invest at least 90% of its total assets in common stocks that comprise the underlying index. Strictly in accordance with its guidelines and mandated procedures, Frank Russell Company (the "Index Provider") compiles and maintains the underlying index, which is composed of all of the securities in the Russell 1000® Index (the "Russell 1000") "equally weighted."

Grade (RS Rating)

Last Trade

$44.79

Average Daily Volume

24,479

Number of Holdings ^*

959

* may have additional holdings in another (foreign) market

Performance

Period	VLU	EQAL
30 Days	-0.49%	-2.02%
60 Days	2.67%	2.13%
90 Days	-0.07%	-1.11%
12 Months	20.52%	11.58%

804 Overlapping Holdings

Symbol	Grade	Weight in VLU	Weight in EQAL	Overlap
A	C	0.03%	0.07%	0.03%
AA	B	0.02%	0.3%	0.02%
AAL	F	0.07%	0.04%	0.04%
AAP	C	0.04%	0.05%	0.04%
AAPL	B	2.4%	0.09%	0.09%
ABBV	B	0.43%	0.08%	0.08%
ABNB	C	0.08%	0.05%	0.05%
ABT	C	0.24%	0.07%	0.07%
ACGL	A	0.13%	0.08%	0.08%
ACHC	D	0.01%	0.07%	0.01%
ACM	C	0.02%	0.05%	0.02%
ACN	C	0.27%	0.04%	0.04%
ADBE	C	0.19%	0.07%	0.07%
ADC	B	0.02%	0.16%	0.02%
ADI	B	0.15%	0.08%	0.08%
ADM	C	0.3%	0.19%	0.19%
ADP	B	0.08%	0.05%	0.05%
ADSK	B	0.03%	0.07%	0.03%
AEE	D	0.08%	0.2%	0.08%
AEP	C	0.16%	0.21%	0.16%
AES	C	0.05%	0.24%	0.05%
AFG	C	0.08%	0.06%	0.06%
AFL	A	0.19%	0.07%	0.07%
AGCO	F	0.03%	0.05%	0.03%
AGO	C	0.02%	0.06%	0.02%
AIG	C	0.28%	0.07%	0.07%
AIRC	A	0.02%	0.18%	0.02%
AIZ	D	0.04%	0.06%	0.04%
AJG	A	0.05%	0.07%	0.05%
AKAM	F	0.03%	0.05%	0.03%
AL	C	0.05%	0.05%	0.05%
ALB	F	0.05%	0.19%	0.05%
ALGM	F	0.0%	0.06%	0.0%
ALGN	F	0.03%	0.06%	0.03%
ALK	C	0.05%	0.06%	0.05%
ALL	D	0.14%	0.07%	0.07%
ALLE	D	0.01%	0.04%	0.01%
ALLY	B	0.1%	0.07%	0.07%
AM	B	0.02%	0.25%	0.02%
AMAT	B	0.17%	0.08%	0.08%
AMCR	B	0.06%	0.05%	0.05%
AMD	B	0.15%	0.05%	0.05%
AME	D	0.04%	0.05%	0.04%
AMED	F	0.01%	0.08%	0.01%
AMG	C	0.02%	0.06%	0.02%
AMGN	B	0.27%	0.09%	0.09%
AMH	C	0.03%	0.15%	0.03%
AMP	A	0.11%	0.07%	0.07%
AMT	B	0.14%	0.14%	0.14%
AMZN	A	1.98%	0.06%	0.06%
AN	C	0.04%	0.06%	0.04%
ANET	B	0.07%	0.65%	0.07%
ANSS	C	0.02%	0.07%	0.02%
AON	C	0.06%	0.06%	0.06%
AOS	C	0.02%	0.05%	0.02%
APA	F	0.06%	0.21%	0.06%
APD	B	0.14%	0.27%	0.14%
APH	B	0.07%	0.09%	0.07%
APTV	D	0.07%	0.05%	0.05%
AR	C	0.05%	0.29%	0.05%
ARE	C	0.05%	0.14%	0.05%
ARMK	A	0.05%	0.06%	0.05%
ARW	C	0.06%	0.07%	0.06%
ASH	C	0.02%	0.24%	0.02%
ATO	B	0.06%	0.21%	0.06%
ATR	B	0.01%	0.05%	0.01%
AVB	A	0.07%	0.16%	0.07%
AVGO	B	0.48%	0.09%	0.09%
AVT	B	0.05%	0.08%	0.05%
AVY	A	0.03%	0.25%	0.03%
AWI	C	0.01%	0.05%	0.01%
AWK	B	0.06%	0.23%	0.06%
AXON	C	0.01%	0.05%	0.01%
AXP	C	0.32%	0.05%	0.05%
AXTA	B	0.02%	0.05%	0.02%
AYI	D	0.01%	0.05%	0.01%
AZO	C	0.07%	0.05%	0.05%
AZTA	B	0.01%	0.07%	0.01%
BA	D	0.17%	0.04%	0.04%
BAC	B	1.51%	0.07%	0.07%
BALL	D	0.05%	0.05%	0.05%
BAX	D	0.06%	0.06%	0.06%
BBWI	D	0.03%	0.05%	0.03%
BBY	B	0.17%	0.07%	0.07%
BC	F	0.02%	0.04%	0.02%
BDX	C	0.1%	0.08%	0.08%
BEN	D	0.06%	0.05%	0.05%
BERY	B	0.04%	0.05%	0.04%
BG	C	0.14%	0.19%	0.14%
BHF	D	0.03%	0.06%	0.03%
BIIB	C	0.11%	0.08%	0.08%
BIO	D	0.02%	0.07%	0.02%
BJ	B	0.04%	0.06%	0.04%
BK	B	0.24%	0.07%	0.07%
BKNG	A	0.11%	0.06%	0.06%
BKR	C	0.1%	0.24%	0.1%
BLD	C	0.02%	0.05%	0.02%
BLDR	F	0.04%	0.04%	0.04%
BLK	B	0.18%	0.06%	0.06%
BMY	D	0.29%	0.06%	0.06%
BR	B	0.02%	0.06%	0.02%
BRK.A	C	2.3%	0.07%	0.07%
BRKR	D	0.01%	0.06%	0.01%
BRO	A	0.03%	0.07%	0.03%
BRX	B	0.02%	0.15%	0.02%
BSX	A	0.11%	0.09%	0.09%
BURL	A	0.03%	0.06%	0.03%
BWA	F	0.07%	0.06%	0.06%
BWXT	C	0.01%	0.04%	0.01%
BX	C	0.1%	0.06%	0.06%
BXP	C	0.05%	0.15%	0.05%
BYD	D	0.01%	0.05%	0.01%
C	D	1.09%	0.07%	0.07%
CABO	D	0.02%	0.44%	0.02%
CACC	D	0.0%	0.05%	0.0%
CACC	D	0.0%	0.06%	0.0%
CACI	A	0.03%	0.08%	0.03%
CAG	D	0.07%	0.18%	0.07%
CAH	B	0.24%	0.07%	0.07%
CAR	D	0.02%	0.05%	0.02%
CARR	B	0.08%	0.06%	0.06%
CASY	B	0.03%	0.21%	0.03%
CAT	C	0.23%	0.05%	0.05%
CB	B	0.37%	0.07%	0.07%
CBOE	C	0.03%	0.06%	0.03%
CBRE	B	0.06%	0.14%	0.06%
CBSH	C	0.02%	0.07%	0.02%
CC	F	0.02%	0.22%	0.02%
CCI	D	0.1%	0.13%	0.1%
CCK	D	0.03%	0.05%	0.03%
CCL	C	0.15%	0.06%	0.06%
CDNS	B	0.03%	0.07%	0.03%
CDW	C	0.04%	0.06%	0.04%
CE	D	0.05%	0.21%	0.05%
CEG	B	0.04%	0.25%	0.04%
CELH	F	0.0%	0.12%	0.0%
CERT	F	0.0%	0.06%	0.0%
CF	D	0.06%	0.21%	0.06%
CFG	C	0.15%	0.07%	0.07%
CFR	D	0.02%	0.06%	0.02%
CG	C	0.02%	0.05%	0.02%
CGNX	B	0.01%	0.06%	0.01%
CHD	A	0.03%	0.18%	0.03%
CHDN	A	0.01%	0.07%	0.01%
CHE	D	0.01%	0.07%	0.01%
CHH	C	0.01%	0.05%	0.01%
CHK	D	0.09%	0.24%	0.09%
CHRW	B	0.05%	0.06%	0.05%
CHTR	C	0.26%	0.53%	0.26%
CI	C	0.4%	0.08%	0.08%
CIEN	C	0.02%	0.48%	0.02%
CINF	C	0.06%	0.06%	0.06%
CL	A	0.11%	0.19%	0.11%
CLF	F	0.03%	0.17%	0.03%
CLH	A	0.03%	0.24%	0.03%
CLX	D	0.03%	0.15%	0.03%
CMA	C	0.06%	0.06%	0.06%
CMCSA	D	0.6%	0.48%	0.48%
CME	D	0.1%	0.06%	0.06%
CMG	B	0.05%	0.07%	0.05%
CMI	C	0.12%	0.05%	0.05%
CMS	D	0.05%	0.2%	0.05%
CNC	D	0.34%	0.07%	0.07%
CNM	C	0.01%	0.05%	0.01%
CNP	A	0.08%	0.22%	0.08%
CNXC	C	0.03%	0.06%	0.03%
COF	D	0.49%	0.05%	0.05%
COHR	B	0.02%	0.08%	0.02%
COLB	F	0.04%	0.06%	0.04%
COLM	B	0.02%	0.06%	0.02%
COP	D	0.44%	0.22%	0.22%
COST	B	0.3%	0.06%	0.06%
COTY	D	0.02%	0.04%	0.02%
CPAY	D	0.03%	0.04%	0.03%
CPB	C	0.05%	0.18%	0.05%
CPRI	F	0.01%	0.04%	0.01%
CPRT	C	0.04%	0.05%	0.04%
CPT	A	0.04%	0.16%	0.04%
CR	B	0.02%	0.05%	0.02%
CRI	D	0.01%	0.04%	0.01%
CRL	D	0.02%	0.06%	0.02%
CRM	D	0.21%	0.05%	0.05%
CROX	B	0.02%	0.07%	0.02%
CRUS	B	0.02%	0.09%	0.02%
CSCO	C	0.45%	0.51%	0.45%
CSGP	F	0.03%	0.13%	0.03%
CSL	B	0.03%	0.06%	0.03%
CSX	D	0.11%	0.04%	0.04%
CTAS	A	0.04%	0.06%	0.04%
CTLT	B	0.01%	0.08%	0.01%
CTRA	D	0.07%	0.24%	0.07%
CTSH	C	0.1%	0.06%	0.06%
CTVA	C	0.08%	0.16%	0.08%
CUBE	B	0.02%	0.15%	0.02%
CUZ	C	0.02%	0.15%	0.02%
CVS	C	0.73%	0.14%	0.14%
CVX	C	1.45%	0.24%	0.24%
CW	B	0.02%	0.06%	0.02%
CWEN	B	0.01%	0.24%	0.01%
CWEN	B	0.02%	0.24%	0.02%
CZR	C	0.03%	0.05%	0.03%
D	D	0.23%	0.21%	0.21%
DAL	D	0.3%	0.06%	0.06%
DAR	F	0.02%	0.14%	0.02%
DAY	F	0.01%	0.05%	0.01%
DBX	D	0.01%	0.06%	0.01%
DCI	D	0.01%	0.05%	0.01%
DD	B	0.19%	0.06%	0.06%
DE	D	0.23%	0.05%	0.05%
DECK	B	0.02%	0.06%	0.02%
DFS	B	0.13%	0.07%	0.07%
DG	D	0.09%	0.04%	0.04%
DGX	B	0.05%	0.09%	0.05%
DHI	C	0.1%	0.05%	0.05%
DHR	B	0.13%	0.08%	0.08%
DINO	D	0.08%	0.21%	0.08%
DIS	C	0.31%	0.05%	0.05%
DKS	B	0.04%	0.07%	0.04%
DLB	D	0.01%	0.07%	0.01%
DLR	B	0.04%	0.15%	0.04%
DLTR	F	0.07%	0.04%	0.04%
DOC	B	0.05%	0.17%	0.05%
DOCS	C	0.01%	0.08%	0.01%
DOV	B	0.04%	0.05%	0.04%
DOW	D	0.21%	0.23%	0.21%
DPZ	B	0.01%	0.07%	0.01%
DRI	C	0.04%	0.05%	0.04%
DT	F	0.01%	0.06%	0.01%
DTE	C	0.09%	0.2%	0.09%
DTM	A	0.02%	0.27%	0.02%
DUK	C	0.32%	0.22%	0.22%
DV	D	0.0%	0.04%	0.0%
DVA	B	0.07%	0.09%	0.07%
DVN	D	0.16%	0.23%	0.16%
DXC	D	0.03%	0.06%	0.03%
DXCM	C	0.02%	0.07%	0.02%
EA	B	0.05%	0.06%	0.05%
EBAY	A	0.09%	0.06%	0.06%
ECL	A	0.05%	0.26%	0.05%
ED	D	0.13%	0.21%	0.13%
EEFT	C	0.02%	0.05%	0.02%
EFX	B	0.02%	0.04%	0.02%
EG	B	0.09%	0.07%	0.07%
EGP	C	0.01%	0.14%	0.01%
EHC	B	0.02%	0.09%	0.02%
EIX	D	0.09%	0.21%	0.09%
EL	F	0.06%	0.04%	0.04%
ELS	C	0.02%	0.14%	0.02%
ELV	B	0.43%	0.09%	0.09%
EME	B	0.03%	0.06%	0.03%
EMN	B	0.05%	0.26%	0.05%
EMR	C	0.15%	0.05%	0.05%
ENOV	F	0.01%	0.06%	0.01%
ENPH	D	0.02%	0.21%	0.02%
EOG	C	0.24%	0.23%	0.23%
EPAM	D	0.01%	0.04%	0.01%
EPR	C	0.01%	0.14%	0.01%
EQH	A	0.07%	0.08%	0.07%
EQIX	C	0.07%	0.13%	0.07%
EQR	A	0.08%	0.16%	0.08%
EQT	D	0.09%	0.24%	0.09%
ES	D	0.08%	0.2%	0.08%
ESAB	C	0.01%	0.05%	0.01%
ESS	B	0.04%	0.17%	0.04%
ETN	D	0.12%	0.05%	0.05%
ETR	D	0.12%	0.21%	0.12%
ETSY	F	0.01%	0.05%	0.01%
EVR	B	0.02%	0.07%	0.02%
EVRG	D	0.07%	0.21%	0.07%
EW	B	0.05%	0.08%	0.05%
EWBC	C	0.04%	0.06%	0.04%
EXC	D	0.19%	0.19%	0.19%
EXEL	C	0.01%	0.08%	0.01%
EXP	D	0.01%	0.04%	0.01%
EXPD	B	0.04%	0.05%	0.04%
EXPE	B	0.04%	0.05%	0.04%
EXR	A	0.05%	0.16%	0.05%
F	D	0.43%	0.05%	0.05%
FAF	D	0.03%	0.06%	0.03%
FANG	C	0.12%	0.24%	0.12%
FAST	C	0.04%	0.2%	0.04%
FCN	D	0.01%	0.05%	0.01%
FCX	C	0.1%	0.28%	0.1%
FDS	C	0.01%	0.06%	0.01%
FDX	C	0.24%	0.05%	0.05%
FE	D	0.07%	0.21%	0.07%
FFIV	D	0.02%	0.06%	0.02%
FHB	C	0.02%	0.06%	0.02%
FHN	C	0.04%	0.06%	0.04%
FICO	A	0.01%	0.05%	0.01%
FIS	B	0.11%	0.06%	0.06%
FITB	C	0.1%	0.07%	0.07%
FIVE	F	0.01%	0.03%	0.01%
FLO	D	0.02%	0.17%	0.02%
FLS	C	0.02%	0.05%	0.02%
FMC	D	0.03%	0.21%	0.03%
FNB	C	0.03%	0.06%	0.03%
FND	C	0.01%	0.05%	0.01%
FNF	C	0.07%	0.06%	0.06%
FOXA	A	0.08%	0.06%	0.06%
FR	D	0.01%	0.13%	0.01%
FRT	C	0.01%	0.15%	0.01%
FSLR	C	0.04%	0.38%	0.04%
FTNT	F	0.03%	0.06%	0.03%
FTRE	F	0.0%	0.05%	0.0%
FTV	D	0.03%	0.04%	0.03%
FYBR	B	0.03%	0.57%	0.03%
G	D	0.02%	0.05%	0.02%
GD	A	0.21%	0.05%	0.05%
GDDY	B	0.03%	0.08%	0.03%
GE	B	0.27%	0.05%	0.05%
GEHC	C	0.03%	0.07%	0.03%
GGG	D	0.01%	0.04%	0.01%
GILD	C	0.27%	0.07%	0.07%
GIS	C	0.12%	0.18%	0.12%
GL	C	0.02%	0.04%	0.02%
GLPI	B	0.04%	0.14%	0.04%
GLW	A	0.1%	0.09%	0.09%
GM	B	0.52%	0.07%	0.07%
GME	C	0.02%	0.09%	0.02%
GMED	B	0.01%	0.1%	0.01%
GNRC	D	0.02%	0.06%	0.02%
GNTX	D	0.02%	0.05%	0.02%
GO	D	0.01%	0.14%	0.01%
GOOGL	A	0.81%	0.09%	0.09%
GPC	D	0.06%	0.05%	0.05%
GPK	D	0.03%	0.05%	0.03%
GPN	F	0.06%	0.04%	0.04%
GPS	C	0.05%	0.07%	0.05%
GRMN	B	0.06%	0.06%	0.06%
GS	B	0.51%	0.08%	0.08%
GWW	C	0.05%	0.05%	0.05%
GXO	F	0.02%	0.05%	0.02%
H	C	0.02%	0.05%	0.02%
HAL	D	0.09%	0.21%	0.09%
HAS	B	0.03%	0.06%	0.03%
HBAN	C	0.1%	0.06%	0.06%
HCA	A	0.21%	0.09%	0.09%
HD	B	0.5%	0.05%	0.05%
HES	D	0.07%	0.23%	0.07%
HIG	A	0.13%	0.07%	0.07%
HII	D	0.03%	0.04%	0.03%
HIW	B	0.03%	0.16%	0.03%
HLI	D	0.01%	0.07%	0.01%
HLT	A	0.02%	0.06%	0.02%
HOG	D	0.03%	0.05%	0.03%
HOLX	C	0.02%	0.08%	0.02%
HON	A	0.23%	0.05%	0.05%
HPE	B	0.27%	0.08%	0.08%
HPQ	B	0.3%	0.08%	0.08%
HRB	A	0.02%	0.06%	0.02%
HRL	D	0.08%	0.15%	0.08%
HSIC	D	0.03%	0.07%	0.03%
HST	C	0.04%	0.13%	0.04%
HSY	F	0.06%	0.16%	0.06%
HTZ	F	0.0%	0.02%	0.0%
HUBB	C	0.03%	0.05%	0.03%
HUM	C	0.23%	0.08%	0.08%
HWM	B	0.03%	0.06%	0.03%
HXL	D	0.0%	0.19%	0.0%
IART	C	0.0%	0.07%	0.0%
IBKR	B	0.04%	0.07%	0.04%
IBM	C	0.38%	0.06%	0.06%
ICE	A	0.1%	0.06%	0.06%
ICUI	B	0.01%	0.09%	0.01%
IDA	D	0.01%	0.21%	0.01%
IDXX	D	0.03%	0.07%	0.03%
IEX	D	0.01%	0.04%	0.01%
IFF	B	0.06%	0.29%	0.06%
ILMN	F	0.02%	0.06%	0.02%
INCY	B	0.03%	0.09%	0.03%
INGR	C	0.03%	0.17%	0.03%
INTC	F	0.45%	0.05%	0.05%
INTU	C	0.06%	0.07%	0.06%
INVH	A	0.04%	0.15%	0.04%
IP	A	0.15%	0.31%	0.15%
IPG	F	0.04%	0.05%	0.04%
IPGP	F	0.01%	0.06%	0.01%
IQV	D	0.05%	0.07%	0.05%
IR	B	0.02%	0.05%	0.02%
IRDM	F	0.0%	0.49%	0.0%
IRM	A	0.04%	0.16%	0.04%
ISRG	A	0.09%	0.09%	0.09%
IT	C	0.03%	0.07%	0.03%
ITT	C	0.01%	0.05%	0.01%
ITW	D	0.09%	0.05%	0.05%
IVZ	C	0.06%	0.06%	0.06%
J	C	0.04%	0.05%	0.04%
JAZZ	F	0.02%	0.08%	0.02%
JBHT	F	0.03%	0.04%	0.03%
JBL	F	0.06%	0.06%	0.06%
JCI	B	0.15%	0.06%	0.06%
JEF	B	0.04%	0.07%	0.04%
JHG	B	0.04%	0.07%	0.04%
JKHY	C	0.01%	0.05%	0.01%
JLL	B	0.04%	0.17%	0.04%
JNJ	C	0.81%	0.07%	0.07%
JNPR	B	0.02%	0.52%	0.02%
JPM	B	1.37%	0.07%	0.07%
JWN	B	0.02%	0.07%	0.02%
K	D	0.06%	0.19%	0.06%
KBR	C	0.02%	0.07%	0.02%
KD	B	0.03%	0.08%	0.03%
KDP	A	0.12%	0.2%	0.12%
KEX	B	0.02%	0.07%	0.02%
KEY	D	0.12%	0.06%	0.06%
KEYS	D	0.03%	0.04%	0.03%
KHC	D	0.25%	0.16%	0.16%
KIM	B	0.03%	0.14%	0.03%
KLAC	B	0.07%	0.08%	0.07%
KLG	F	0.01%	0.21%	0.01%
KMB	A	0.12%	0.19%	0.12%
KMI	A	0.36%	0.26%	0.26%
KMPR	C	0.01%	0.07%	0.01%
KMX	C	0.05%	0.05%	0.05%
KNSL	D	0.0%	0.05%	0.0%
KNX	C	0.03%	0.04%	0.03%
KO	A	0.41%	0.18%	0.18%
KR	D	0.33%	0.16%	0.16%
KRC	F	0.03%	0.13%	0.03%
KSS	D	0.02%	0.04%	0.02%
KVUE	D	0.19%	0.16%	0.16%
L	C	0.13%	0.07%	0.07%
LAD	F	0.07%	0.05%	0.05%
LAMR	B	0.02%	0.14%	0.02%
LDOS	B	0.05%	0.08%	0.05%
LEA	F	0.06%	0.04%	0.04%
LECO	D	0.01%	0.04%	0.01%
LEG	F	0.01%	0.03%	0.01%
LEN	D	0.13%	0.05%	0.05%
LFUS	B	0.01%	0.05%	0.01%
LHX	A	0.1%	0.05%	0.05%
LII	A	0.02%	0.06%	0.02%
LIN	B	0.2%	0.22%	0.2%
LITE	B	0.01%	0.55%	0.01%
LKQ	F	0.04%	0.04%	0.04%
LLY	B	0.25%	0.09%	0.09%
LMT	A	0.31%	0.05%	0.05%
LNC	B	0.05%	0.08%	0.05%
LNT	C	0.04%	0.21%	0.04%
LOPE	D	0.01%	0.06%	0.01%
LOW	C	0.22%	0.05%	0.05%
LPX	B	0.01%	0.06%	0.01%
LRCX	B	0.12%	0.08%	0.08%
LSCC	F	0.0%	0.05%	0.0%
LSTR	B	0.01%	0.05%	0.01%
LULU	F	0.03%	0.04%	0.03%
LUV	B	0.16%	0.05%	0.05%
LVS	C	0.07%	0.05%	0.05%
LW	C	0.02%	0.15%	0.02%
LYB	D	0.23%	0.23%	0.23%
LYV	C	0.03%	0.05%	0.03%
M	D	0.05%	0.05%	0.05%
MA	C	0.13%	0.05%	0.05%
MAA	B	0.04%	0.16%	0.04%
MAN	D	0.03%	0.05%	0.03%
MANH	B	0.0%	0.06%	0.0%
MAR	B	0.09%	0.05%	0.05%
MAS	D	0.03%	0.05%	0.03%
MASI	B	0.01%	0.08%	0.01%
MAT	D	0.01%	0.05%	0.01%
MCD	D	0.14%	0.05%	0.05%
MCHP	C	0.07%	0.07%	0.07%
MCK	A	0.43%	0.19%	0.19%
MCO	A	0.04%	0.07%	0.04%
MCW	C	0.0%	0.05%	0.0%
MDLZ	D	0.21%	0.16%	0.16%
MDT	C	0.33%	0.08%	0.08%
MDU	B	0.03%	0.06%	0.03%
MEDP	B	0.01%	0.08%	0.01%
MET	C	0.41%	0.06%	0.06%
META	B	1.68%	0.07%	0.07%
MGM	C	0.06%	0.05%	0.05%
MHK	D	0.06%	0.05%	0.05%
MIDD	D	0.02%	0.04%	0.02%
MKC	D	0.04%	0.17%	0.04%
MKSI	B	0.01%	0.05%	0.01%
MKTX	F	0.01%	0.06%	0.01%
MLM	D	0.03%	0.05%	0.03%
MMC	A	0.12%	0.07%	0.07%
MMM	B	0.23%	0.05%	0.05%
MNST	F	0.05%	0.14%	0.05%
MO	A	0.33%	0.18%	0.18%
MOH	F	0.04%	0.06%	0.04%
MORN	C	0.01%	0.06%	0.01%
MOS	F	0.08%	0.2%	0.08%
MP	F	0.0%	0.21%	0.0%
MPC	C	0.6%	0.22%	0.22%
MPW	C	0.03%	0.16%	0.03%
MPWR	B	0.01%	0.08%	0.01%
MRCY	F	0.0%	0.05%	0.0%
MRK	A	0.44%	0.08%	0.08%
MRNA	C	0.06%	0.11%	0.06%
MRO	B	0.09%	0.26%	0.09%
MS	B	0.51%	0.08%	0.08%
MSA	C	0.01%	0.05%	0.01%
MSCI	D	0.01%	0.06%	0.01%
MSFT	A	1.67%	0.08%	0.08%
MSGS	C	0.0%	0.05%	0.0%
MSI	A	0.04%	0.62%	0.04%
MSM	F	0.02%	0.04%	0.02%
MTB	C	0.13%	0.07%	0.07%
MTCH	F	0.01%	0.06%	0.01%
MTD	B	0.02%	0.06%	0.02%
MTG	B	0.02%	0.07%	0.02%
MTN	D	0.02%	0.04%	0.02%
MTZ	B	0.02%	0.06%	0.02%
MU	B	0.23%	0.11%	0.11%
MUSA	A	0.04%	0.06%	0.04%
NATL	B	0.02%	0.07%	0.02%
NBIX	C	0.01%	0.08%	0.01%
NCLH	C	0.02%	0.05%	0.02%
NDAQ	C	0.05%	0.07%	0.05%
NDSN	D	0.02%	0.04%	0.02%
NEE	B	0.35%	0.26%	0.26%
NEM	B	0.15%	0.29%	0.15%
NEU	D	0.01%	0.2%	0.01%
NFG	C	0.03%	0.22%	0.03%
NFLX	A	0.18%	0.06%	0.06%
NI	B	0.05%	0.21%	0.05%
NKE	C	0.16%	0.05%	0.05%
NNN	B	0.03%	0.15%	0.03%
NOC	D	0.14%	0.05%	0.05%
NOV	D	0.03%	0.24%	0.03%
NOW	C	0.05%	0.07%	0.05%
NRG	B	0.06%	0.27%	0.06%
NSA	A	0.01%	0.17%	0.01%
NSC	D	0.12%	0.04%	0.04%
NTAP	B	0.04%	0.09%	0.04%
NTRS	C	0.07%	0.07%	0.07%
NUE	D	0.13%	0.2%	0.13%
NVDA	B	0.38%	0.1%	0.1%
NVR	C	0.05%	0.05%	0.05%
NVST	F	0.01%	0.07%	0.01%
NVT	B	0.02%	0.06%	0.02%
NWL	F	0.03%	0.05%	0.03%
NWSA	B	0.03%	0.06%	0.03%
NXST	C	0.03%	0.05%	0.03%
NYCB	F	0.02%	0.06%	0.02%
NYT	B	0.01%	0.06%	0.01%
O	C	0.11%	0.15%	0.11%
OC	B	0.05%	0.06%	0.05%
ODFL	D	0.03%	0.04%	0.03%
OGE	B	0.03%	0.21%	0.03%
OGN	B	0.05%	0.09%	0.05%
OHI	A	0.03%	0.16%	0.03%
OKE	C	0.11%	0.24%	0.11%
OLED	A	0.0%	0.08%	0.0%
OLLI	B	0.01%	0.07%	0.01%
OLN	D	0.02%	0.2%	0.02%
OMC	C	0.06%	0.05%	0.05%
ON	D	0.05%	0.06%	0.05%
ORCL	B	0.39%	0.09%	0.09%
ORI	C	0.04%	0.07%	0.04%
ORLY	B	0.07%	0.05%	0.05%
OSK	C	0.02%	0.05%	0.02%
OTIS	C	0.04%	0.05%	0.04%
OVV	D	0.11%	0.22%	0.11%
OXY	D	0.22%	0.23%	0.22%
OZK	D	0.04%	0.06%	0.04%
PAG	D	0.03%	0.05%	0.03%
PANW	B	0.06%	0.08%	0.06%
PARA	F	0.04%	0.05%	0.04%
PAYC	F	0.0%	0.05%	0.0%
PAYX	A	0.05%	0.05%	0.05%
PB	D	0.02%	0.06%	0.02%
PCAR	D	0.13%	0.05%	0.05%
PCG	C	0.12%	0.22%	0.12%
PCTY	F	0.0%	0.04%	0.0%
PEG	B	0.13%	0.23%	0.13%
PEN	F	0.0%	0.06%	0.0%
PENN	C	0.03%	0.05%	0.03%
PEP	C	0.38%	0.17%	0.17%
PFE	C	0.85%	0.08%	0.08%
PFG	C	0.16%	0.06%	0.06%
PFGC	D	0.1%	0.15%	0.1%
PG	A	0.53%	0.18%	0.18%
PGR	C	0.17%	0.07%	0.07%
PH	D	0.08%	0.05%	0.05%
PHIN	D	0.01%	0.07%	0.01%
PHM	D	0.06%	0.05%	0.05%
PII	F	0.02%	0.05%	0.02%
PINC	F	0.01%	0.07%	0.01%
PK	D	0.03%	0.13%	0.03%
PKG	B	0.04%	0.05%	0.04%
PLD	C	0.14%	0.12%	0.12%
PM	B	0.49%	0.19%	0.19%
PNC	C	0.34%	0.07%	0.07%
PNFP	D	0.02%	0.06%	0.02%
PNR	C	0.02%	0.05%	0.02%
PNW	C	0.05%	0.22%	0.05%
PODD	B	0.0%	0.09%	0.0%
POOL	D	0.01%	0.04%	0.01%
POST	C	0.03%	0.17%	0.03%
PPC	C	0.01%	0.19%	0.01%
PPG	D	0.07%	0.05%	0.05%
PPL	C	0.09%	0.21%	0.09%
PRGO	F	0.02%	0.07%	0.02%
PRI	B	0.02%	0.06%	0.02%
PRU	B	0.39%	0.07%	0.07%
PSA	B	0.07%	0.15%	0.07%
PSTG	B	0.02%	0.08%	0.02%
PSX	C	0.55%	0.21%	0.21%
PTC	C	0.02%	0.06%	0.02%
PVH	C	0.02%	0.05%	0.02%
PWR	B	0.04%	0.06%	0.04%
PYPL	D	0.15%	0.05%	0.05%
QCOM	B	0.34%	0.09%	0.09%
QRVO	B	0.03%	0.07%	0.03%
R	C	0.05%	0.05%	0.05%
RBC	B	0.01%	0.24%	0.01%
RCL	B	0.06%	0.07%	0.06%
RCM	B	0.01%	0.07%	0.01%
REG	B	0.03%	0.15%	0.03%
REGN	A	0.15%	0.09%	0.09%
REXR	C	0.02%	0.13%	0.02%
RF	C	0.1%	0.06%	0.06%
RGA	B	0.13%	0.07%	0.07%
RGEN	F	0.01%	0.05%	0.01%
RGLD	C	0.01%	0.26%	0.01%
RH	F	0.01%	0.04%	0.01%
RHI	D	0.02%	0.04%	0.02%
RJF	C	0.05%	0.06%	0.05%
RL	B	0.03%	0.06%	0.03%
RLI	C	0.01%	0.06%	0.01%
RMD	C	0.02%	0.09%	0.02%
RNR	B	0.05%	0.07%	0.05%
ROK	F	0.04%	0.04%	0.04%
ROL	A	0.01%	0.06%	0.01%
ROP	A	0.06%	0.07%	0.06%
ROST	A	0.07%	0.06%	0.06%
RPM	B	0.02%	0.05%	0.02%
RRC	D	0.03%	0.24%	0.03%
RRX	F	0.02%	0.04%	0.02%
RS	D	0.05%	0.21%	0.05%
RSG	B	0.09%	0.21%	0.09%
RTX	B	0.43%	0.06%	0.06%
RUN	C	0.01%	0.21%	0.01%
RYN	C	0.01%	0.13%	0.01%
SAIA	B	0.01%	0.04%	0.01%
SAIC	D	0.02%	0.06%	0.02%
SAM	C	0.0%	0.17%	0.0%
SBAC	D	0.02%	0.13%	0.02%
SBUX	D	0.13%	0.05%	0.05%
SCHW	C	0.26%	0.07%	0.07%
SCI	B	0.02%	0.05%	0.02%
SEE	C	0.02%	0.05%	0.02%
SEIC	C	0.02%	0.06%	0.02%
SF	B	0.03%	0.07%	0.03%
SHC	C	0.0%	0.07%	0.0%
SHW	C	0.05%	0.04%	0.04%
SJM	F	0.05%	0.16%	0.05%
SKX	B	0.03%	0.07%	0.03%
SLB	D	0.15%	0.2%	0.15%
SLGN	D	0.02%	0.05%	0.02%
SLM	C	0.02%	0.06%	0.02%
SMG	C	0.01%	0.23%	0.01%
SNA	D	0.03%	0.05%	0.03%
SNPS	B	0.06%	0.07%	0.06%
SNV	C	0.03%	0.06%	0.03%
SNX	B	0.1%	0.09%	0.09%
SO	B	0.29%	0.23%	0.23%
SOLV	F	0.0%	0.01%	0.0%
SON	D	0.03%	0.05%	0.03%
SPG	B	0.06%	0.15%	0.06%
SPGI	B	0.11%	0.07%	0.07%
SRCL	B	0.01%	0.23%	0.01%
SRE	B	0.16%	0.22%	0.16%
ST	D	0.02%	0.06%	0.02%
STAG	C	0.02%	0.14%	0.02%
STE	C	0.02%	0.08%	0.02%
STLD	C	0.08%	0.22%	0.08%
STT	D	0.12%	0.07%	0.07%
STWD	C	0.05%	0.06%	0.05%
STZ	B	0.06%	0.18%	0.06%
SWK	D	0.05%	0.05%	0.05%
SWKS	B	0.05%	0.07%	0.05%
SWN	D	0.07%	0.23%	0.07%
SYF	B	0.17%	0.05%	0.05%
SYK	B	0.09%	0.08%	0.08%
SYY	C	0.12%	0.16%	0.12%
T	A	1.22%	0.57%	0.57%
TAP	F	0.09%	0.13%	0.09%
TDC	D	0.01%	0.06%	0.01%
TDG	B	0.02%	0.06%	0.02%
TDY	D	0.03%	0.05%	0.03%
TECH	C	0.01%	0.08%	0.01%
TER	B	0.02%	0.1%	0.02%
TFC	C	0.46%	0.07%	0.07%
TFX	D	0.01%	0.07%	0.01%
TGT	C	0.23%	0.05%	0.05%
THC	B	0.06%	0.11%	0.06%
THG	D	0.02%	0.06%	0.02%
THO	F	0.03%	0.05%	0.03%
TJX	A	0.17%	0.06%	0.06%
TKR	D	0.02%	0.23%	0.02%
TMO	D	0.18%	0.08%	0.08%
TMUS	B	0.38%	0.59%	0.38%
TNDM	C	0.0%	0.12%	0.0%
TNL	C	0.02%	0.05%	0.02%
TOL	D	0.04%	0.05%	0.04%
TPR	C	0.03%	0.05%	0.03%
TPX	D	0.01%	0.05%	0.01%
TREX	F	0.01%	0.04%	0.01%
TRGP	B	0.06%	0.27%	0.06%
TRIP	F	0.01%	0.04%	0.01%
TRMB	C	0.02%	0.04%	0.02%
TROW	B	0.08%	0.07%	0.07%
TRV	C	0.16%	0.06%	0.06%
TSCO	B	0.04%	0.06%	0.04%
TSLA	C	0.4%	0.06%	0.06%
TSN	C	0.15%	0.18%	0.15%
TT	B	0.08%	0.06%	0.06%
TTC	B	0.01%	0.06%	0.01%
TTEK	B	0.02%	0.06%	0.02%
TTWO	B	0.02%	0.06%	0.02%
TXN	B	0.25%	0.08%	0.08%
TXRH	A	0.02%	0.06%	0.02%
TXT	C	0.04%	0.05%	0.04%
TYL	B	0.02%	0.08%	0.02%
UAA	C	0.01%	0.05%	0.01%
UAL	D	0.15%	0.06%	0.06%
UBER	C	0.09%	0.05%	0.05%
UDR	B	0.03%	0.16%	0.03%
UGI	D	0.04%	0.18%	0.04%
UHS	A	0.05%	0.09%	0.05%
ULTA	F	0.03%	0.04%	0.03%
UNH	D	1.03%	0.08%	0.08%
UNM	C	0.08%	0.06%	0.06%
UNP	D	0.23%	0.04%	0.04%
UPS	D	0.4%	0.04%	0.04%
URI	C	0.06%	0.05%	0.05%
USB	C	0.33%	0.06%	0.06%
USFD	B	0.07%	0.17%	0.07%
UTHR	A	0.03%	0.1%	0.03%
V	C	0.41%	0.05%	0.05%
VAC	F	0.02%	0.05%	0.02%
VFC	C	0.04%	0.05%	0.04%
VICI	D	0.09%	0.14%	0.09%
VLO	D	0.48%	0.23%	0.23%
VLTO	B	0.02%	0.06%	0.02%
VMC	D	0.03%	0.05%	0.03%
VMI	B	0.01%	0.07%	0.01%
VNO	C	0.04%	0.15%	0.04%
VNT	C	0.01%	0.05%	0.01%
VOYA	B	0.04%	0.07%	0.04%
VRSK	A	0.01%	0.06%	0.01%
VRSN	C	0.02%	0.06%	0.02%
VRTX	B	0.11%	0.09%	0.09%
VSAT	F	0.01%	0.37%	0.01%
VSCO	F	0.01%	0.06%	0.01%
VST	C	0.07%	0.29%	0.07%
VSTS	D	0.01%	0.03%	0.01%
VTR	A	0.07%	0.17%	0.07%
VTRS	D	0.11%	0.07%	0.07%
VVV	C	0.02%	0.23%	0.02%
VZ	B	1.59%	0.55%	0.55%
WAB	C	0.04%	0.06%	0.04%
WAT	D	0.02%	0.04%	0.02%
WBA	D	0.11%	0.13%	0.11%
WBD	F	0.15%	0.04%	0.04%
WBS	D	0.03%	0.06%	0.03%
WCC	D	0.04%	0.05%	0.04%
WDC	B	0.06%	0.09%	0.06%
WEC	D	0.08%	0.2%	0.08%
WELL	B	0.1%	0.17%	0.1%
WEN	F	0.01%	0.05%	0.01%
WEX	F	0.01%	0.04%	0.01%
WFC	C	1.16%	0.07%	0.07%
WH	C	0.01%	0.05%	0.01%
WHR	D	0.05%	0.05%	0.05%
WING	B	0.0%	0.06%	0.0%
WLK	D	0.05%	0.25%	0.05%
WM	C	0.1%	0.21%	0.1%
WMB	B	0.16%	0.27%	0.16%
WMS	C	0.01%	0.05%	0.01%
WMT	A	1.58%	0.06%	0.06%
WOLF	D	0.0%	0.06%	0.0%
WPC	D	0.05%	0.14%	0.05%
WRB	C	0.05%	0.06%	0.05%
WRK	C	0.12%	0.05%	0.05%
WSM	C	0.03%	0.07%	0.03%
WSO	B	0.04%	0.06%	0.04%
WST	D	0.01%	0.07%	0.01%
WTFC	C	0.02%	0.06%	0.02%
WTRG	C	0.03%	0.22%	0.03%
WTW	B	0.06%	0.06%	0.06%
WU	C	0.04%	0.04%	0.04%
WWD	B	0.02%	0.06%	0.02%
WY	D	0.07%	0.12%	0.07%
WYNN	D	0.02%	0.05%	0.02%
X	F	0.08%	0.18%	0.08%
XEL	D	0.12%	0.22%	0.12%
XOM	D	2.04%	0.48%	0.48%
XPO	D	0.03%	0.04%	0.03%
XRAY	F	0.01%	0.06%	0.01%
XYL	B	0.03%	0.06%	0.03%
YETI	C	0.0%	0.06%	0.0%
YUM	D	0.04%	0.05%	0.04%
ZBH	F	0.05%	0.07%	0.05%
ZBRA	D	0.02%	0.05%	0.02%
ZI	F	0.01%	0.05%	0.01%
ZION	D	0.06%	0.07%	0.06%
ZTS	C	0.05%	0.08%	0.05%

VLU Overweight 633 Positions Relative to EQAL

Symbol	Grade	Weight
GOOG	A	1.33%
TEL	A	0.11%
CHRD	D	0.1%
NXPI	B	0.09%
CIVI	D	0.06%
JXN	B	0.05%
STX	B	0.05%
ABG	B	0.05%
COOP	B	0.05%
MUR	D	0.05%
SANM	B	0.04%
GPI	C	0.04%
FOX	A	0.04%
AMKR	B	0.04%
PBF	F	0.04%
RDN	C	0.03%
WFRD	C	0.03%
URBN	B	0.03%
FLR	A	0.03%
PR	D	0.03%
ARCH	D	0.03%
ONB	C	0.03%
CNO	C	0.03%
ALV	D	0.03%
GNW	D	0.03%
SMCI	B	0.03%
MTDR	D	0.03%
ASB	D	0.03%
VLY	F	0.03%
APLE	D	0.03%
BXMT	C	0.03%
SM	C	0.03%
ABM	A	0.03%
HP	F	0.03%
OGS	F	0.03%
TMHC	D	0.03%
NOG	D	0.03%
CMC	C	0.03%
GT	F	0.03%
BKH	C	0.03%
CNX	C	0.03%
HCC	D	0.03%
ERIE	C	0.02%
JBGS	C	0.02%
GATX	B	0.02%
RNST	D	0.02%
DAN	F	0.02%
SLG	B	0.02%
BANR	B	0.02%
ENS	B	0.02%
VAL	B	0.02%
MGY	C	0.02%
REZI	D	0.02%
IBTX	B	0.02%
ANDE	D	0.02%
PFS	D	0.02%
BHE	B	0.02%
GEO	D	0.02%
OI	F	0.02%
KAR	D	0.02%
POR	D	0.02%
PEB	D	0.02%
ASO	D	0.02%
LBRT	D	0.02%
WIRE	B	0.02%
EAT	B	0.02%
PNM	D	0.02%
WOR	F	0.02%
CBT	C	0.02%
MMS	B	0.02%
BANC	D	0.02%
GEF	F	0.02%
SIGI	F	0.02%
WAFD	D	0.02%
ATI	D	0.02%
BCC	D	0.02%
VSH	F	0.02%
MATX	B	0.02%
GBX	D	0.02%
PTEN	F	0.02%
MLKN	D	0.02%
SR	D	0.02%
TCBI	D	0.02%
CRC	D	0.02%
HBI	C	0.02%
TDS	C	0.02%
SKYW	B	0.02%
SBRA	A	0.02%
PRG	C	0.02%
JBLU	D	0.02%
IBOC	C	0.02%
AVNT	C	0.02%
SFM	B	0.02%
FFBC	D	0.02%
COKE	B	0.02%
SSB	D	0.02%
ENVA	C	0.02%
AMR	F	0.02%
SNEX	C	0.02%
CWK	B	0.02%
SATS	C	0.02%
SFNC	D	0.02%
TPH	D	0.02%
ALE	B	0.02%
PDCO	D	0.02%
CNK	B	0.02%
UBSI	D	0.02%
ESNT	B	0.02%
MTH	D	0.02%
FL	B	0.02%
SWX	D	0.02%
CADE	C	0.02%
KBH	B	0.02%
LNW	B	0.02%
BKU	C	0.02%
ADNT	F	0.02%
UFPI	C	0.02%
SEM	B	0.02%
SIG	D	0.02%
MLI	C	0.02%
CALM	D	0.02%
BTU	D	0.02%
NSIT	B	0.02%
TRN	B	0.02%
HWC	D	0.02%
ETRN	C	0.02%
TGNA	D	0.02%
DEI	C	0.02%
CEIX	C	0.02%
GHC	D	0.02%
CATY	C	0.02%
ABR	B	0.02%
APOG	D	0.01%
VRRM	B	0.01%
AWR	D	0.01%
LTC	B	0.01%
SEDG	F	0.01%
AMBC	F	0.01%
SVC	D	0.01%
MYGN	B	0.01%
TBBK	C	0.01%
ESE	D	0.01%
RDNT	B	0.01%
RMBS	F	0.01%
CHCO	C	0.01%
EZPW	D	0.01%
SCHL	D	0.01%
UFCS	D	0.01%
NVRI	B	0.01%
NEOG	C	0.01%
AMWD	F	0.01%
CUBI	D	0.01%
ROCK	D	0.01%
KNF	D	0.01%
ROG	C	0.01%
SAFT	C	0.01%
EGBN	D	0.01%
HCSG	F	0.01%
PLAY	F	0.01%
VRTS	C	0.01%
BGS	F	0.01%
CPF	C	0.01%
GTY	D	0.01%
ALGT	F	0.01%
CASH	B	0.01%
SBCF	F	0.01%
AEIS	B	0.01%
CHEF	B	0.01%
GES	F	0.01%
CPK	D	0.01%
SKT	D	0.01%
XHR	D	0.01%
MATV	C	0.01%
AZZ	C	0.01%
CAKE	B	0.01%
NHC	A	0.01%
BKE	C	0.01%
HAIN	C	0.01%
CWT	D	0.01%
MMSI	B	0.01%
RES	F	0.01%
MC	D	0.01%
BHLB	D	0.01%
DRH	D	0.01%
JBT	C	0.01%
AIN	D	0.01%
EIG	C	0.01%
EFC	B	0.01%
EXLS	C	0.01%
FWRD	D	0.01%
GFF	D	0.01%
CARG	B	0.01%
OUT	D	0.01%
VC	D	0.01%
CAL	C	0.01%
SCL	D	0.01%
DCOM	D	0.01%
HAE	D	0.01%
FTDR	B	0.01%
FSS	D	0.01%
BLMN	F	0.01%
MGEE	D	0.01%
PLUS	D	0.01%
NGVT	F	0.01%
PJT	B	0.01%
CBU	D	0.01%
FCPT	B	0.01%
HPP	D	0.01%
HIBB	A	0.01%
MNRO	F	0.01%
WRLD	F	0.01%
HLX	C	0.01%
BRBR	D	0.01%
DORM	B	0.01%
FIZZ	B	0.01%
CVCO	C	0.01%
ENR	C	0.01%
OII	D	0.01%
NSP	D	0.01%
ACLS	B	0.01%
ALKS	C	0.01%
DNOW	D	0.01%
ZD	C	0.01%
SBH	F	0.01%
SMPL	B	0.01%
THS	D	0.01%
BDC	B	0.01%
NBR	D	0.01%
PLAB	F	0.01%
SFBS	D	0.01%
JJSF	B	0.01%
VIR	D	0.01%
AMN	F	0.01%
HQY	B	0.01%
DEA	B	0.01%
FBK	C	0.01%
STC	C	0.01%
NOVT	B	0.01%
EPRT	B	0.01%
OSIS	D	0.01%
EPC	B	0.01%
KN	B	0.01%
HALO	B	0.01%
SHO	D	0.01%
YELP	F	0.01%
FELE	C	0.01%
UE	A	0.01%
AKR	B	0.01%
KWR	F	0.01%
SGH	B	0.01%
AOSL	B	0.01%
LGIH	F	0.01%
BCPC	B	0.01%
POWL	C	0.01%
WD	C	0.01%
MYRG	D	0.01%
EXPI	F	0.01%
IBP	D	0.01%
CLW	B	0.01%
UNF	F	0.01%
PIPR	B	0.01%
SPTN	F	0.01%
B	B	0.01%
STRA	D	0.01%
OFG	C	0.01%
RXO	D	0.01%
LXP	B	0.01%
SYNA	D	0.01%
BOOT	B	0.01%
LANC	C	0.01%
AROC	D	0.01%
SCVL	B	0.01%
STBA	C	0.01%
HELE	F	0.01%
CVI	F	0.01%
UNFI	C	0.01%
SXC	D	0.01%
HASI	B	0.01%
RWT	C	0.01%
KLIC	C	0.01%
PRDO	D	0.01%
VSTO	C	0.01%
HMN	D	0.01%
PBI	C	0.01%
GVA	B	0.01%
MTSI	B	0.01%
ARCB	F	0.01%
FORM	B	0.01%
KELYA	C	0.01%
GTLS	F	0.01%
PRK	B	0.01%
FFIN	D	0.01%
UCTT	B	0.01%
SSD	D	0.01%
KALU	D	0.01%
FDP	D	0.01%
ONTO	B	0.01%
IDCC	A	0.01%
NBTB	C	0.01%
AHCO	C	0.01%
IOSP	D	0.01%
KMT	D	0.01%
ENSG	B	0.01%
ITGR	C	0.01%
PUMP	F	0.01%
IRT	A	0.01%
PECO	C	0.01%
PATK	C	0.01%
ORA	C	0.01%
CBRL	F	0.01%
BDN	D	0.01%
WERN	F	0.01%
WGO	F	0.01%
CCOI	F	0.01%
SHOO	B	0.01%
ACIW	A	0.01%
LRN	B	0.01%
CCS	D	0.01%
SXT	B	0.01%
AXL	F	0.01%
BOH	F	0.01%
SITC	B	0.01%
CNXN	C	0.01%
SABR	F	0.01%
NPO	D	0.01%
BGC	C	0.01%
APAM	D	0.01%
AVAV	C	0.01%
MODG	C	0.01%
CTRE	B	0.01%
WSFS	C	0.01%
DLX	B	0.01%
WTS	D	0.01%
WS	D	0.01%
PBH	C	0.01%
BRC	B	0.01%
NWS	B	0.01%
PCH	F	0.01%
WWW	B	0.01%
SAH	C	0.01%
GRBK	B	0.01%
CHX	C	0.01%
CENTA	D	0.01%
CRK	C	0.01%
SCSC	D	0.01%
OPCH	D	0.01%
TTMI	A	0.01%
LCII	F	0.01%
FHI	D	0.01%
ECPG	D	0.01%
HGV	D	0.01%
KW	C	0.01%
INDB	F	0.01%
MTX	B	0.01%
LZB	B	0.01%
LUMN	F	0.01%
OTTR	D	0.01%
ITRI	C	0.01%
TRMK	C	0.01%
VBTX	C	0.01%
PSMT	D	0.01%
BANF	D	0.01%
HNI	B	0.01%
DIOD	B	0.01%
HI	D	0.01%
AX	C	0.01%
PLXS	C	0.01%
TEX	D	0.01%
INVA	B	0.01%
GBCI	D	0.01%
GIII	D	0.01%
UCBI	D	0.01%
FUL	C	0.01%
SLCA	B	0.01%
ATGE	B	0.01%
UA	C	0.01%
NWN	F	0.01%
NMIH	B	0.01%
FBP	C	0.01%
GMS	D	0.01%
AIT	C	0.01%
PPBI	F	0.01%
FIX	C	0.01%
AUB	D	0.01%
ACA	B	0.01%
HOPE	D	0.01%
MCY	C	0.01%
ABCB	C	0.01%
KTB	B	0.01%
NAVI	D	0.01%
UVV	D	0.01%
ANF	B	0.01%
NWBI	C	0.01%
FN	B	0.01%
NWE	D	0.01%
MAC	D	0.01%
BCO	A	0.01%
AEO	F	0.01%
ASGN	D	0.01%
CXW	F	0.01%
OMI	D	0.01%
SLVM	B	0.01%
IIPR	B	0.01%
CVBF	D	0.01%
ODP	F	0.01%
PMT	D	0.01%
PARR	F	0.01%
HTH	D	0.01%
MHO	C	0.01%
SPNT	B	0.01%
RC	D	0.01%
MOG.A	C	0.01%
VGR	B	0.01%
NJR	D	0.01%
DY	B	0.01%
LPG	C	0.01%
KFY	B	0.01%
CRS	C	0.01%
AVA	D	0.01%
GNL	D	0.01%
XRX	F	0.01%
RUSHA	D	0.01%
FULT	C	0.01%
UMBF	D	0.01%
HUBG	B	0.01%
HOMB	C	0.01%
KRG	B	0.01%
TALO	D	0.01%
ARI	D	0.01%
VICR	D	0.0%
UHT	B	0.0%
NPK	D	0.0%
LNN	D	0.0%
DDD	D	0.0%
CHUY	F	0.0%
CRNC	F	0.0%
XPEL	F	0.0%
NARI	C	0.0%
AGYS	B	0.0%
VCEL	C	0.0%
SPWR	D	0.0%
MSEX	F	0.0%
CNMD	F	0.0%
EXPO	B	0.0%
OSUR	F	0.0%
EMBC	C	0.0%
LESL	F	0.0%
VREX	F	0.0%
SNCY	D	0.0%
CLB	B	0.0%
SITM	C	0.0%
GOGO	F	0.0%
AAON	C	0.0%
LQDT	B	0.0%
CEVA	F	0.0%
TRUP	B	0.0%
HCI	D	0.0%
MED	F	0.0%
MEI	F	0.0%
TGI	B	0.0%
ATNI	D	0.0%
BMI	B	0.0%
TTEC	F	0.0%
OMCL	F	0.0%
RGP	F	0.0%
TTGT	B	0.0%
CMP	F	0.0%
RGNX	F	0.0%
NXRT	B	0.0%
DGII	D	0.0%
ARWR	C	0.0%
STAA	D	0.0%
PGNY	F	0.0%
GKOS	B	0.0%
COHU	C	0.0%
CPRX	C	0.0%
CHCT	F	0.0%
NABL	A	0.0%
BJRI	B	0.0%
PCRX	C	0.0%
HVT	F	0.0%
JBSS	D	0.0%
EPAC	B	0.0%
NFBK	D	0.0%
MYE	F	0.0%
ASTE	F	0.0%
SSTK	F	0.0%
ICHR	D	0.0%
ADUS	A	0.0%
AHH	C	0.0%
IPAR	F	0.0%
CYTK	D	0.0%
WSR	A	0.0%
HRMY	C	0.0%
PRLB	F	0.0%
HSII	B	0.0%
SXI	D	0.0%
CTS	B	0.0%
COLL	D	0.0%
VVI	D	0.0%
IIIN	D	0.0%
DIN	D	0.0%
XNCR	F	0.0%
CARS	C	0.0%
EXTR	C	0.0%
DRQ	D	0.0%
CRSR	F	0.0%
CFFN	C	0.0%
CCRN	F	0.0%
UNIT	F	0.0%
AVNS	C	0.0%
SHEN	D	0.0%
CENT	F	0.0%
FOXF	C	0.0%
CLDT	F	0.0%
MXL	C	0.0%
PZZA	F	0.0%
TMP	F	0.0%
SLAB	F	0.0%
ELF	B	0.0%
CSGS	D	0.0%
RGR	F	0.0%
WDFC	D	0.0%
MCS	D	0.0%
BSIG	D	0.0%
AMPH	F	0.0%
TILE	D	0.0%
CVGW	F	0.0%
JACK	F	0.0%
NX	F	0.0%
VIAV	F	0.0%
INN	D	0.0%
GPRE	F	0.0%
AMSF	F	0.0%
TNC	C	0.0%
SPSC	B	0.0%
SMTC	D	0.0%
SJW	F	0.0%
ASIX	F	0.0%
THRY	F	0.0%
ALG	F	0.0%
NUS	F	0.0%
USNA	D	0.0%
GDEN	D	0.0%
HTLD	C	0.0%
RILY	F	0.0%
IRWD	F	0.0%
ROIC	D	0.0%
SMP	D	0.0%
WABC	D	0.0%
DXPE	C	0.0%
BLKB	D	0.0%
THRM	D	0.0%
DFIN	D	0.0%
MGPI	F	0.0%
KOP	F	0.0%
PLMR	C	0.0%
PRGS	F	0.0%
ASTH	B	0.0%
SONO	F	0.0%
CRVL	C	0.0%
MATW	F	0.0%
QLYS	D	0.0%
HFWA	F	0.0%
LNTH	C	0.0%
HLIT	B	0.0%
PAHC	B	0.0%
ALRM	D	0.0%
POWI	D	0.0%
NTCT	D	0.0%
FBNC	D	0.0%
MD	D	0.0%
LIVN	C	0.0%
RCUS	C	0.0%
REX	F	0.0%
NVEE	F	0.0%
NEO	F	0.0%
WNC	D	0.0%
SUPN	D	0.0%
AMCX	D	0.0%
FLGT	D	0.0%
HAFC	D	0.0%
JOE	D	0.0%
CALX	C	0.0%
DBI	D	0.0%
LKFN	D	0.0%
TRST	D	0.0%
ETD	D	0.0%
PRFT	B	0.0%
USPH	F	0.0%
CNSL	B	0.0%
QNST	D	0.0%
PRA	F	0.0%
HAYN	D	0.0%
DVAX	D	0.0%
UTL	D	0.0%
CORT	C	0.0%
PRAA	D	0.0%
CVLT	A	0.0%
CENX	C	0.0%
RAMP	D	0.0%
FCF	D	0.0%
ZEUS	F	0.0%
KREF	D	0.0%
TR	F	0.0%
EYE	F	0.0%
EVTC	D	0.0%
VTOL	C	0.0%
MRTN	C	0.0%
SIX	B	0.0%
ENV	C	0.0%
GDOT	C	0.0%
MMI	D	0.0%
ALEX	C	0.0%
BRKL	F	0.0%
MTRN	F	0.0%
VECO	B	0.0%
SHAK	D	0.0%
TWI	F	0.0%
PFBC	C	0.0%
HWKN	B	0.0%
AAT	B	0.0%
OXM	D	0.0%
SBSI	D	0.0%
MOV	D	0.0%
HZO	C	0.0%
AIR	C	0.0%
MERC	F	0.0%
BFS	D	0.0%
CSR	B	0.0%
MCRI	C	0.0%
NBHC	B	0.0%
LGND	C	0.0%

VLU Underweight 156 Positions Relative to EQAL

Symbol	Grade	Weight
LBRDK	D	-0.48%
ROKU	F	-0.45%
TPL	B	-0.35%
SCCO	C	-0.3%
ESI	B	-0.27%
FTI	C	-0.26%
LNG	B	-0.24%
FRPT	A	-0.21%
AGR	D	-0.2%
HUN	D	-0.2%
SPB	B	-0.19%
CHPT	D	-0.18%
REYN	C	-0.17%
PLUG	F	-0.16%
SEB	F	-0.16%
HE	F	-0.16%
ACI	F	-0.16%
NFE	F	-0.15%
COLD	C	-0.15%
OLPX	C	-0.15%
Z	B	-0.13%
SUI	D	-0.13%
NTRA	B	-0.1%
PINS	B	-0.09%
HOOD	B	-0.09%
HCP	A	-0.09%
APP	B	-0.09%
ELAN	B	-0.09%
NVCR	C	-0.09%
VRT	D	-0.09%
AGL	D	-0.09%
RKT	B	-0.08%
NCNO	B	-0.08%
ICLR	B	-0.08%
AXS	B	-0.08%
MRVI	F	-0.08%
WOOF	C	-0.08%
SRPT	C	-0.08%
CRBG	B	-0.08%
BMRN	C	-0.08%
QGEN	D	-0.08%
GWRE	A	-0.08%
VIRT	B	-0.08%
CRWD	B	-0.08%
ALNY	B	-0.08%
WAL	D	-0.07%
OMF	C	-0.07%
GFS	C	-0.07%
ARES	D	-0.07%
RYAN	A	-0.07%
ENTG	B	-0.07%
DDOG	C	-0.07%
OWL	C	-0.07%
DOCU	C	-0.07%
TTD	A	-0.07%
BPOP	C	-0.07%
TW	C	-0.07%
NU	A	-0.07%
CNA	B	-0.07%
AGNC	A	-0.07%
BOKF	D	-0.07%
PLTR	C	-0.07%
TOST	C	-0.07%
BIRK	A	-0.07%
SMAR	B	-0.07%
SSNC	C	-0.07%
AVTR	D	-0.07%
WTM	B	-0.07%
LPLA	B	-0.07%
MKL	B	-0.07%
APO	A	-0.07%
FCNCA	D	-0.07%
RPRX	D	-0.07%
ESTC	C	-0.07%
BSY	C	-0.07%
UWMC	B	-0.07%
IONS	C	-0.07%
KKR	B	-0.07%
EXAS	D	-0.06%
PCOR	D	-0.06%
DKNG	C	-0.06%
SOFI	F	-0.06%
DOX	D	-0.06%
NTNX	D	-0.06%
RBA	B	-0.06%
CFLT	F	-0.06%
ZM	D	-0.06%
DASH	C	-0.06%
AMC	D	-0.06%
TPG	C	-0.06%
DNB	F	-0.06%
PLNT	B	-0.06%
RARE	F	-0.06%
MRVL	B	-0.06%
TWLO	F	-0.06%
CPNG	D	-0.06%
HEI	B	-0.06%
PEGA	C	-0.06%
ZS	C	-0.06%
IAC	F	-0.06%
PLTK	C	-0.06%
VEEV	D	-0.06%
SPOT	B	-0.06%
HUBS	D	-0.06%
TFSL	C	-0.06%
COIN	C	-0.06%
INSP	F	-0.06%
INFA	C	-0.06%
TRU	C	-0.05%
LCID	F	-0.05%
QS	F	-0.05%
XP	F	-0.05%
S	D	-0.05%
PTON	C	-0.05%
HAYW	D	-0.05%
SNDR	C	-0.05%
AZEK	D	-0.05%
FIVN	F	-0.05%
W	F	-0.05%
BFAM	D	-0.05%
RIVN	C	-0.05%
RBLX	C	-0.05%
ALSN	C	-0.05%
UHAL	D	-0.05%
GLOB	D	-0.05%
GTLB	F	-0.05%
CLVT	D	-0.05%
BAH	B	-0.05%
APLS	F	-0.05%
TEAM	D	-0.05%
SNOW	F	-0.05%
GTES	D	-0.05%
ADTN	C	-0.05%
TDOC	F	-0.05%
RNG	F	-0.05%
WDAY	D	-0.05%
NET	D	-0.05%
OKTA	F	-0.05%
BILL	F	-0.04%
SIRI	D	-0.04%
MDB	D	-0.04%
PYCR	F	-0.04%
TXG	F	-0.04%
SQ	F	-0.04%
SITE	F	-0.04%
U	F	-0.04%
WSC	C	-0.04%
LYFT	F	-0.04%
AFRM	F	-0.04%
DRVN	F	-0.04%
FOUR	C	-0.04%
SPR	C	-0.04%
CNH	F	-0.04%
DNA	F	-0.03%
PATH	F	-0.03%
GEV	B	-0.01%