VLU vs. SPGM ETF Comparison

Comparison of SPDR S&P 1500 Value Tilt ETF (VLU) to SPDR Portfolio MSCI Global Stock Market ETF (SPGM)

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

$171.87

Average Daily Volume

5,214

Number of Holdings ^*

1436

* may have additional holdings in another (foreign) market

SPGM

SPDR Portfolio MSCI Global Stock Market ETF

SPGM Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI ACWI IMI Index. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index and in depositary receipts based on securities comprising the index. The index is a free float-adjusted market capitalization-weighted index that is designed to measure the combined equity market performance of developed and emerging markets.

Grade (RS Rating)

Last Trade

$60.99

Average Daily Volume

35,178

Number of Holdings ^*

958

* may have additional holdings in another (foreign) market

Performance

Period	VLU	SPGM
30 Days	-1.60%	1.24%
60 Days	2.98%	8.62%
90 Days	-0.10%	3.55%
12 Months	18.48%	18.57%

484 Overlapping Holdings

Symbol	Grade	Weight in VLU	Weight in SPGM	Overlap
A	C	0.03%	0.22%	0.03%
AA	C	0.03%	0.0%	0.0%
AAON	C	0.0%	0.01%	0.0%
AAPL	B	2.16%	3.81%	2.16%
ABBV	B	0.42%	0.39%	0.39%
ABBV	B	0.42%	0.2%	0.2%
ABNB	D	0.08%	0.05%	0.05%
ABR	B	0.02%	0.01%	0.01%
ABT	D	0.25%	0.34%	0.25%
ACLS	B	0.01%	0.01%	0.01%
ACN	F	0.28%	0.24%	0.24%
ADBE	C	0.17%	0.37%	0.17%
ADI	B	0.15%	0.19%	0.15%
ADM	F	0.31%	0.1%	0.1%
ADNT	F	0.02%	0.0%	0.0%
ADP	C	0.08%	0.2%	0.08%
ADSK	B	0.03%	0.01%	0.01%
ADUS	A	0.0%	0.0%	0.0%
AEP	B	0.16%	0.15%	0.15%
AES	C	0.06%	0.01%	0.01%
AFL	A	0.19%	0.22%	0.19%
AGYS	B	0.0%	0.01%	0.0%
AHH	C	0.0%	0.02%	0.0%
ALB	F	0.06%	0.01%	0.01%
ALEX	C	0.0%	0.01%	0.0%
ALGN	F	0.03%	0.01%	0.01%
ALL	D	0.15%	0.14%	0.14%
ALLE	D	0.01%	0.03%	0.01%
ALLY	B	0.1%	0.02%	0.02%
AMAT	A	0.16%	0.41%	0.16%
AMD	C	0.16%	0.28%	0.16%
AMG	D	0.02%	0.0%	0.0%
AMGN	B	0.27%	0.24%	0.24%
AMR	F	0.02%	0.01%	0.01%
AMT	C	0.14%	0.17%	0.14%
AMZN	C	2.02%	2.02%	2.02%
ANET	A	0.06%	0.06%	0.06%
ANF	B	0.01%	0.01%	0.01%
AON	C	0.05%	0.06%	0.05%
AOSL	B	0.01%	0.0%	0.0%
APA	F	0.06%	0.01%	0.01%
APD	B	0.15%	0.07%	0.07%
APTV	F	0.08%	0.0%	0.0%
AR	C	0.05%	0.0%	0.0%
ARWR	D	0.0%	0.01%	0.0%
ASTH	B	0.0%	0.0%	0.0%
AVGO	B	0.38%	1.02%	0.38%
AVNS	D	0.0%	0.0%	0.0%
AX	C	0.01%	0.0%	0.0%
AXON	C	0.01%	0.03%	0.01%
AXP	C	0.32%	0.31%	0.31%
BA	D	0.18%	0.12%	0.12%
BAC	A	1.49%	0.47%	0.47%
BAX	D	0.06%	0.06%	0.06%
BBWI	D	0.03%	0.01%	0.01%
BDX	D	0.1%	0.18%	0.1%
BEN	F	0.06%	0.05%	0.05%
BHF	F	0.03%	0.01%	0.01%
BIIB	C	0.11%	0.1%	0.1%
BJRI	C	0.0%	0.0%	0.0%
BK	B	0.25%	0.15%	0.15%
BKNG	A	0.1%	0.26%	0.1%
BKR	D	0.1%	0.02%	0.02%
BLDR	D	0.04%	0.01%	0.01%
BLK	B	0.18%	0.07%	0.07%
BMY	F	0.3%	0.11%	0.11%
BOOT	A	0.01%	0.01%	0.01%
BRBR	C	0.01%	0.0%	0.0%
BRK.A	C	2.32%	0.67%	0.67%
BSX	B	0.11%	0.13%	0.11%
BTU	D	0.02%	0.01%	0.01%
BURL	B	0.02%	0.0%	0.0%
BX	C	0.1%	0.04%	0.04%
C	C	1.11%	0.25%	0.25%
CAG	D	0.08%	0.05%	0.05%
CALX	C	0.0%	0.0%	0.0%
CAR	F	0.02%	0.0%	0.0%
CARR	A	0.07%	0.06%	0.06%
CARS	C	0.0%	0.01%	0.0%
CASH	C	0.01%	0.01%	0.01%
CAT	D	0.24%	0.27%	0.24%
CB	B	0.37%	0.26%	0.26%
CC	F	0.02%	0.01%	0.01%
CCL	C	0.16%	0.01%	0.01%
CCS	D	0.01%	0.01%	0.01%
CDNS	A	0.03%	0.02%	0.02%
CEG	B	0.04%	0.13%	0.04%
CEIX	C	0.02%	0.0%	0.0%
CELH	F	0.0%	0.01%	0.0%
CENX	D	0.0%	0.01%	0.0%
CERT	F	0.0%	0.0%	0.0%
CEVA	D	0.0%	0.0%	0.0%
CF	D	0.06%	0.02%	0.02%
CFG	C	0.15%	0.02%	0.02%
CHCT	D	0.0%	0.03%	0.0%
CHD	A	0.03%	0.08%	0.03%
CHEF	B	0.01%	0.0%	0.0%
CHRW	B	0.05%	0.07%	0.05%
CHTR	C	0.26%	0.08%	0.08%
CHX	D	0.01%	0.02%	0.01%
CI	D	0.41%	0.08%	0.08%
CL	A	0.1%	0.14%	0.1%
CLDT	F	0.0%	0.01%	0.0%
CLF	F	0.03%	0.0%	0.0%
CLX	C	0.03%	0.11%	0.03%
CMCSA	F	0.64%	0.16%	0.16%
CME	D	0.1%	0.08%	0.08%
CMG	A	0.05%	0.13%	0.05%
CMI	C	0.12%	0.21%	0.12%
CNC	D	0.35%	0.0%	0.0%
COF	C	0.51%	0.12%	0.12%
COHR	B	0.02%	0.0%	0.0%
COLL	D	0.0%	0.01%	0.0%
COP	D	0.46%	0.19%	0.19%
COST	A	0.3%	0.61%	0.3%
COTY	F	0.02%	0.0%	0.0%
CPRX	D	0.0%	0.01%	0.0%
CRM	F	0.22%	0.37%	0.22%
CRNC	F	0.0%	0.0%	0.0%
CROX	A	0.02%	0.01%	0.01%
CRSR	D	0.0%	0.0%	0.0%
CSCO	F	0.45%	0.3%	0.3%
CSGP	F	0.03%	0.0%	0.0%
CSX	D	0.11%	0.19%	0.11%
CTSH	D	0.1%	0.11%	0.1%
CTVA	D	0.08%	0.07%	0.07%
CUBI	D	0.01%	0.0%	0.0%
CVS	D	0.72%	0.15%	0.15%
CVX	D	1.49%	0.35%	0.35%
CYTK	F	0.0%	0.0%	0.0%
CZR	C	0.03%	0.01%	0.01%
DAN	D	0.02%	0.0%	0.0%
DBI	F	0.0%	0.0%	0.0%
DD	B	0.19%	0.08%	0.08%
DDD	D	0.0%	0.0%	0.0%
DE	D	0.22%	0.19%	0.19%
DEA	B	0.01%	0.06%	0.01%
DFS	B	0.13%	0.15%	0.13%
DGII	F	0.0%	0.0%	0.0%
DHI	D	0.1%	0.0%	0.0%
DHR	B	0.14%	0.33%	0.14%
DIN	D	0.0%	0.0%	0.0%
DIS	C	0.31%	0.28%	0.28%
DLR	A	0.04%	0.01%	0.01%
DLTR	F	0.07%	0.07%	0.07%
DNOW	D	0.01%	0.0%	0.0%
DOC	B	0.05%	0.05%	0.05%
DOCS	C	0.01%	0.0%	0.0%
DOW	D	0.22%	0.08%	0.08%
DRH	D	0.01%	0.0%	0.0%
DT	F	0.01%	0.0%	0.0%
DUK	B	0.33%	0.09%	0.09%
DVAX	D	0.0%	0.01%	0.0%
DVN	D	0.17%	0.02%	0.02%
DXC	D	0.03%	0.01%	0.01%
DXCM	C	0.02%	0.03%	0.02%
EA	B	0.05%	0.0%	0.0%
EBAY	A	0.09%	0.1%	0.09%
ECL	A	0.05%	0.14%	0.05%
EFC	B	0.01%	0.01%	0.01%
EIX	C	0.1%	0.11%	0.1%
EL	F	0.06%	0.08%	0.06%
ELF	B	0.0%	0.01%	0.0%
ELV	C	0.43%	0.24%	0.24%
EMBC	C	0.0%	0.0%	0.0%
EMR	C	0.15%	0.19%	0.15%
ENPH	C	0.02%	0.02%	0.02%
ENS	B	0.02%	0.01%	0.01%
ENVA	C	0.02%	0.0%	0.0%
EOG	D	0.24%	0.15%	0.15%
EPAM	F	0.01%	0.01%	0.01%
EPRT	B	0.01%	0.01%	0.01%
EQIX	C	0.07%	0.04%	0.04%
EQR	A	0.08%	0.06%	0.06%
EQT	D	0.09%	0.0%	0.0%
ETN	C	0.12%	0.23%	0.12%
ETSY	F	0.01%	0.0%	0.0%
EXC	D	0.2%	0.06%	0.06%
EXPE	C	0.04%	0.01%	0.01%
EXPI	F	0.01%	0.0%	0.0%
EXTR	C	0.0%	0.0%	0.0%
EYE	F	0.0%	0.0%	0.0%
F	D	0.46%	0.08%	0.08%
FAST	C	0.03%	0.11%	0.03%
FBK	C	0.01%	0.01%	0.01%
FCX	D	0.1%	0.05%	0.05%
FDX	D	0.24%	0.16%	0.16%
FE	C	0.07%	0.07%	0.07%
FICO	B	0.01%	0.02%	0.01%
FIS	A	0.11%	0.01%	0.01%
FIZZ	B	0.01%	0.0%	0.0%
FLGT	F	0.0%	0.0%	0.0%
FOXA	B	0.08%	0.04%	0.04%
FSLR	C	0.04%	0.02%	0.02%
FTNT	F	0.03%	0.02%	0.02%
FTV	D	0.03%	0.06%	0.03%
GD	A	0.21%	0.24%	0.21%
GDOT	D	0.0%	0.0%	0.0%
GE	C	0.27%	0.14%	0.14%
GEHC	C	0.03%	0.02%	0.02%
GILD	F	0.28%	0.14%	0.14%
GIS	C	0.12%	0.06%	0.06%
GKOS	B	0.0%	0.0%	0.0%
GLW	A	0.09%	0.13%	0.09%
GM	B	0.52%	0.08%	0.08%
GME	C	0.02%	0.01%	0.01%
GMS	D	0.01%	0.01%	0.01%
GNRC	C	0.02%	0.01%	0.01%
GOGO	D	0.0%	0.0%	0.0%
GOOG	B	1.33%	1.21%	1.21%
GOOGL	B	0.81%	1.18%	0.81%
GPN	F	0.06%	0.0%	0.0%
GRBK	B	0.01%	0.01%	0.01%
GS	B	0.51%	0.31%	0.31%
GXO	F	0.02%	0.0%	0.0%
HAE	D	0.01%	0.0%	0.0%
HAL	D	0.1%	0.06%	0.06%
HASI	B	0.01%	0.01%	0.01%
HAYN	D	0.0%	0.0%	0.0%
HCA	A	0.21%	0.03%	0.03%
HD	B	0.47%	0.52%	0.47%
HES	D	0.07%	0.12%	0.07%
HIBB	A	0.01%	0.0%	0.0%
HOG	D	0.03%	0.0%	0.0%
HON	A	0.23%	0.21%	0.21%
HPE	B	0.25%	0.08%	0.08%
HPQ	B	0.3%	0.12%	0.12%
HSII	B	0.0%	0.0%	0.0%
HST	D	0.04%	0.0%	0.0%
HSY	F	0.07%	0.13%	0.07%
IBM	C	0.38%	0.24%	0.24%
IBP	D	0.01%	0.0%	0.0%
ICHR	D	0.0%	0.0%	0.0%
IDXX	C	0.03%	0.01%	0.01%
IFF	B	0.06%	0.02%	0.02%
IIIN	D	0.0%	0.0%	0.0%
IIPR	B	0.01%	0.02%	0.01%
ILMN	F	0.02%	0.01%	0.01%
INN	D	0.0%	0.0%	0.0%
INTC	F	0.45%	0.18%	0.18%
INTU	C	0.06%	0.35%	0.06%
IR	B	0.02%	0.13%	0.02%
ISRG	A	0.09%	0.1%	0.09%
ITRI	B	0.01%	0.01%	0.01%
ITW	D	0.09%	0.13%	0.09%
JCI	B	0.15%	0.16%	0.15%
JNJ	F	0.82%	0.39%	0.39%
JNPR	B	0.02%	0.06%	0.02%
JPM	B	1.39%	0.8%	0.8%
K	C	0.06%	0.05%	0.05%
KD	C	0.03%	0.01%	0.01%
KEX	B	0.02%	0.01%	0.01%
KEYS	D	0.03%	0.12%	0.03%
KHC	D	0.25%	0.0%	0.0%
KIM	B	0.03%	0.0%	0.0%
KLAC	A	0.06%	0.06%	0.06%
KLG	F	0.01%	0.0%	0.0%
KMB	A	0.11%	0.12%	0.11%
KMI	B	0.36%	0.03%	0.03%
KO	B	0.41%	0.31%	0.31%
KOP	F	0.0%	0.01%	0.0%
KREF	D	0.0%	0.0%	0.0%
KSS	F	0.02%	0.01%	0.01%
KVUE	D	0.19%	0.03%	0.03%
LDOS	B	0.05%	0.03%	0.03%
LGIH	F	0.01%	0.0%	0.0%
LIN	B	0.2%	0.33%	0.2%
LLY	A	0.24%	0.88%	0.24%
LMT	C	0.31%	0.23%	0.23%
LNTH	B	0.0%	0.03%	0.0%
LNW	B	0.02%	0.03%	0.02%
LOW	C	0.21%	0.28%	0.21%
LRCX	A	0.11%	0.1%	0.1%
LSCC	F	0.0%	0.0%	0.0%
LULU	F	0.03%	0.02%	0.02%
LUMN	F	0.01%	0.0%	0.0%
LVS	F	0.07%	0.04%	0.04%
LW	C	0.02%	0.05%	0.02%
LYB	C	0.23%	0.08%	0.08%
M	D	0.05%	0.01%	0.01%
MA	C	0.13%	0.39%	0.13%
MAT	F	0.01%	0.0%	0.0%
MATX	B	0.02%	0.01%	0.01%
MCD	F	0.14%	0.21%	0.14%
MCK	A	0.42%	0.26%	0.26%
MCRI	C	0.0%	0.01%	0.0%
MDLZ	D	0.21%	0.06%	0.06%
MDT	D	0.34%	0.22%	0.22%
MET	C	0.41%	0.18%	0.18%
META	B	1.69%	1.37%	1.37%
MGPI	F	0.0%	0.0%	0.0%
MHO	C	0.01%	0.01%	0.01%
MKC	D	0.04%	0.1%	0.04%
MMC	A	0.12%	0.17%	0.12%
MMM	B	0.23%	0.08%	0.08%
MO	B	0.34%	0.08%	0.08%
MOS	F	0.09%	0.02%	0.02%
MP	F	0.01%	0.0%	0.0%
MPC	D	0.61%	0.19%	0.19%
MPWR	A	0.01%	0.03%	0.01%
MRK	B	0.45%	0.44%	0.44%
MRNA	C	0.07%	0.05%	0.05%
MRO	C	0.09%	0.07%	0.07%
MS	B	0.5%	0.24%	0.24%
MSFT	A	1.6%	3.79%	1.6%
MTB	C	0.13%	0.1%	0.1%
MTCH	D	0.01%	0.0%	0.0%
MTDR	D	0.03%	0.02%	0.02%
MU	B	0.2%	0.11%	0.11%
MXL	D	0.0%	0.0%	0.0%
NABL	B	0.0%	0.0%	0.0%
NARI	C	0.0%	0.0%	0.0%
NCLH	D	0.03%	0.0%	0.0%
NEE	C	0.38%	0.24%	0.24%
NEM	B	0.15%	0.04%	0.04%
NEO	F	0.0%	0.0%	0.0%
NEOG	B	0.01%	0.0%	0.0%
NFLX	A	0.17%	0.33%	0.17%
NKE	C	0.16%	0.24%	0.16%
NMIH	B	0.01%	0.0%	0.0%
NOC	F	0.14%	0.15%	0.14%
NOV	D	0.03%	0.01%	0.01%
NOW	C	0.05%	0.12%	0.05%
NSC	D	0.12%	0.15%	0.12%
NTAP	A	0.04%	0.11%	0.04%
NUE	D	0.13%	0.02%	0.02%
NVDA	A	0.34%	3.99%	0.34%
NVRI	C	0.01%	0.0%	0.0%
NVT	B	0.02%	0.01%	0.01%
NWSA	B	0.03%	0.01%	0.01%
NX	F	0.0%	0.0%	0.0%
NXPI	B	0.1%	0.01%	0.01%
NXRT	C	0.0%	0.06%	0.0%
ODFL	D	0.03%	0.0%	0.0%
OGN	C	0.05%	0.01%	0.01%
OII	D	0.01%	0.01%	0.01%
OMI	D	0.01%	0.01%	0.01%
ON	C	0.05%	0.01%	0.01%
ORA	C	0.01%	0.01%	0.01%
ORCL	A	0.33%	0.37%	0.33%
ORLY	C	0.07%	0.2%	0.07%
OSUR	F	0.0%	0.0%	0.0%
OTIS	B	0.04%	0.04%	0.04%
OVV	D	0.12%	0.0%	0.0%
OXY	D	0.22%	0.06%	0.06%
PANW	B	0.06%	0.1%	0.06%
PARA	F	0.05%	0.02%	0.02%
PARR	F	0.01%	0.0%	0.0%
PBF	F	0.05%	0.01%	0.01%
PCG	B	0.12%	0.0%	0.0%
PCH	F	0.01%	0.01%	0.01%
PEG	B	0.13%	0.13%	0.13%
PEN	F	0.0%	0.01%	0.0%
PENN	C	0.02%	0.0%	0.0%
PEP	D	0.38%	0.29%	0.29%
PFE	C	0.87%	0.2%	0.2%
PG	A	0.53%	0.51%	0.51%
PGR	C	0.17%	0.15%	0.15%
PH	D	0.08%	0.13%	0.08%
PLAB	F	0.01%	0.0%	0.0%
PLAY	F	0.01%	0.02%	0.01%
PLD	C	0.14%	0.23%	0.14%
PLMR	C	0.0%	0.01%	0.0%
PM	B	0.5%	0.17%	0.17%
PNC	C	0.33%	0.13%	0.13%
PNR	C	0.02%	0.01%	0.01%
PODD	B	0.0%	0.0%	0.0%
POWL	C	0.01%	0.01%	0.01%
PPL	B	0.09%	0.07%	0.07%
PRG	C	0.02%	0.0%	0.0%
PRU	B	0.4%	0.15%	0.15%
PSA	B	0.06%	0.2%	0.06%
PSX	D	0.56%	0.06%	0.06%
PTEN	F	0.02%	0.01%	0.01%
PYPL	D	0.17%	0.11%	0.11%
QCOM	A	0.31%	0.4%	0.31%
QNST	D	0.0%	0.0%	0.0%
RAMP	F	0.0%	0.0%	0.0%
RCL	B	0.06%	0.02%	0.02%
RCUS	D	0.0%	0.01%	0.0%
RDNT	B	0.01%	0.01%	0.01%
REG	B	0.03%	0.0%	0.0%
REGN	A	0.14%	0.13%	0.13%
REZI	D	0.02%	0.0%	0.0%
RGEN	F	0.01%	0.0%	0.0%
RGNX	F	0.0%	0.0%	0.0%
ROCK	D	0.01%	0.0%	0.0%
ROIC	C	0.0%	0.09%	0.0%
ROST	A	0.07%	0.19%	0.07%
RRC	D	0.04%	0.0%	0.0%
RTX	B	0.44%	0.3%	0.3%
RUN	C	0.01%	0.0%	0.0%
SABR	F	0.01%	0.0%	0.0%
SAM	C	0.0%	0.0%	0.0%
SBUX	D	0.13%	0.19%	0.13%
SCHW	D	0.27%	0.17%	0.17%
SEDG	F	0.01%	0.0%	0.0%
SHC	D	0.01%	0.0%	0.0%
SHEN	D	0.0%	0.0%	0.0%
SHW	C	0.05%	0.03%	0.03%
SITM	C	0.0%	0.0%	0.0%
SJM	C	0.05%	0.08%	0.05%
SLB	F	0.15%	0.08%	0.08%
SM	C	0.03%	0.0%	0.0%
SMCI	C	0.02%	0.05%	0.02%
SNCY	F	0.0%	0.0%	0.0%
SNPS	A	0.05%	0.05%	0.05%
SO	B	0.3%	0.07%	0.07%
SOLV	F	0.0%	0.01%	0.0%
SONO	F	0.0%	0.01%	0.0%
SPG	B	0.06%	0.13%	0.06%
SPGI	B	0.11%	0.21%	0.11%
SPWR	D	0.0%	0.0%	0.0%
STAA	D	0.0%	0.0%	0.0%
STT	D	0.12%	0.06%	0.06%
STX	A	0.05%	0.07%	0.05%
SVC	F	0.01%	0.0%	0.0%
SYF	C	0.17%	0.04%	0.04%
SYK	B	0.09%	0.19%	0.09%
SYY	D	0.12%	0.13%	0.12%
T	B	1.21%	0.18%	0.18%
TBBK	C	0.0%	0.02%	0.0%
TEL	A	0.11%	0.17%	0.11%
TGI	C	0.0%	0.01%	0.0%
TGT	D	0.24%	0.12%	0.12%
THO	F	0.03%	0.0%	0.0%
THRM	D	0.0%	0.0%	0.0%
TJX	A	0.16%	0.34%	0.16%
TMO	C	0.18%	0.44%	0.18%
TMUS	B	0.39%	0.05%	0.05%
TNDM	C	0.0%	0.0%	0.0%
TPR	C	0.03%	0.03%	0.03%
TREX	C	0.01%	0.01%	0.01%
TRUP	C	0.0%	0.0%	0.0%
TRV	D	0.17%	0.18%	0.17%
TSLA	C	0.37%	0.61%	0.37%
TSN	D	0.15%	0.07%	0.07%
TT	A	0.07%	0.17%	0.07%
TTGT	B	0.0%	0.02%	0.0%
TTWO	C	0.02%	0.0%	0.0%
TXN	B	0.25%	0.4%	0.25%
UBER	B	0.08%	0.13%	0.08%
UCTT	B	0.01%	0.0%	0.0%
UNH	D	1.06%	0.58%	0.58%
UNIT	F	0.0%	0.0%	0.0%
UNP	D	0.23%	0.25%	0.23%
UPS	F	0.41%	0.12%	0.12%
URI	C	0.06%	0.02%	0.02%
USB	C	0.33%	0.1%	0.1%
UVV	F	0.01%	0.0%	0.0%
V	D	0.41%	0.65%	0.41%
VGR	C	0.01%	0.05%	0.01%
VGR	C	0.01%	0.0%	0.0%
VICR	C	0.0%	0.0%	0.0%
VIR	D	0.01%	0.0%	0.0%
VLO	D	0.5%	0.13%	0.13%
VLTO	A	0.02%	0.05%	0.02%
VNT	C	0.01%	0.01%	0.01%
VRTX	B	0.12%	0.08%	0.08%
VSCO	F	0.01%	0.0%	0.0%
VSTO	B	0.01%	0.01%	0.01%
VTRS	F	0.12%	0.01%	0.01%
VVI	C	0.0%	0.0%	0.0%
VZ	B	1.61%	0.14%	0.14%
WBA	D	0.11%	0.03%	0.03%
WBD	F	0.17%	0.02%	0.02%
WDC	A	0.06%	0.09%	0.06%
WFC	C	1.14%	0.36%	0.36%
WGO	F	0.01%	0.0%	0.0%
WIRE	B	0.02%	0.0%	0.0%
WM	C	0.1%	0.22%	0.1%
WMB	A	0.16%	0.07%	0.07%
WMT	A	1.57%	0.35%	0.35%
WOLF	D	0.0%	0.0%	0.0%
WRLD	D	0.01%	0.0%	0.0%
WSR	B	0.0%	0.01%	0.0%
XHR	D	0.01%	0.0%	0.0%
XOM	D	2.11%	0.66%	0.66%
XPO	D	0.03%	0.01%	0.01%
YETI	C	0.0%	0.01%	0.0%
YUM	C	0.04%	0.12%	0.04%
ZEUS	F	0.0%	0.0%	0.0%
ZI	F	0.01%	0.0%	0.0%
ZTS	C	0.05%	0.09%	0.05%

VLU Overweight 954 Positions Relative to SPGM

Symbol	Grade	Weight
TFC	C	0.45%
KR	C	0.32%
DAL	D	0.31%
AIG	D	0.29%
D	C	0.24%
CAH	C	0.23%
HUM	C	0.23%
LUV	B	0.17%
BBY	A	0.16%
SRE	B	0.16%
PFG	C	0.16%
UAL	C	0.16%
BG	D	0.15%
IP	A	0.15%
XEL	D	0.13%
RGA	B	0.13%
ACGL	B	0.13%
L	C	0.13%
PCAR	C	0.13%
ED	D	0.13%
LEN	D	0.13%
FANG	D	0.12%
KEY	D	0.12%
KDP	A	0.12%
WRK	C	0.12%
HIG	A	0.12%
ETR	D	0.12%
O	D	0.11%
OKE	C	0.11%
WELL	A	0.1%
DTE	C	0.1%
LHX	B	0.1%
SNX	A	0.1%
HBAN	D	0.1%
FITB	C	0.1%
PFGC	D	0.1%
CHRD	D	0.1%
ICE	B	0.1%
AMP	A	0.1%
CCI	D	0.1%
ES	D	0.09%
WEC	D	0.09%
DG	F	0.09%
MAR	C	0.09%
UNM	D	0.09%
RSG	B	0.09%
VICI	D	0.09%
EG	B	0.09%
TAP	F	0.09%
RF	C	0.09%
CHK	D	0.09%
SWN	D	0.08%
AEE	D	0.08%
STLD	C	0.08%
AFG	C	0.08%
DINO	D	0.08%
CNP	A	0.08%
TROW	B	0.08%
X	F	0.08%
HRL	F	0.08%
APH	A	0.07%
USFD	B	0.07%
LEA	F	0.07%
MCHP	B	0.07%
WY	F	0.07%
EVRG	C	0.07%
LAD	D	0.07%
ARW	C	0.07%
AVB	A	0.07%
FNF	C	0.07%
VTR	A	0.07%
EQH	B	0.07%
PPG	D	0.07%
NTRS	C	0.07%
AAL	F	0.07%
VST	C	0.07%
DVA	B	0.07%
CTRA	D	0.07%
BWA	F	0.07%
CMS	D	0.06%
MUR	D	0.06%
NRG	B	0.06%
ROP	A	0.06%
STZ	C	0.06%
MNST	F	0.06%
GRMN	B	0.06%
THC	B	0.06%
ZION	C	0.06%
PHM	D	0.06%
AWK	B	0.06%
CMA	D	0.06%
MHK	D	0.06%
AMCR	B	0.06%
ATO	C	0.06%
CINF	C	0.06%
CIVI	D	0.06%
WTW	D	0.06%
MGM	D	0.06%
OMC	C	0.06%
GPC	D	0.06%
TRGP	A	0.06%
AZO	C	0.06%
CBRE	C	0.06%
IVZ	D	0.06%
WLK	D	0.05%
CPB	C	0.05%
FHN	D	0.05%
WHR	F	0.05%
UGI	D	0.05%
IBKR	B	0.05%
AVT	B	0.05%
SWKS	B	0.05%
BXP	C	0.05%
PNW	C	0.05%
GWW	C	0.05%
UHS	A	0.05%
ARMK	A	0.05%
ABG	B	0.05%
NI	C	0.05%
OC	B	0.05%
JXN	C	0.05%
NDAQ	C	0.05%
ALK	C	0.05%
COOP	B	0.05%
RNR	B	0.05%
EMN	B	0.05%
BALL	D	0.05%
CE	D	0.05%
WRB	C	0.05%
WPC	D	0.05%
RS	D	0.05%
R	D	0.05%
EW	C	0.05%
JBL	C	0.05%
LNC	B	0.05%
SWK	D	0.05%
RJF	C	0.05%
IQV	D	0.05%
AJG	A	0.05%
GPS	C	0.05%
PAYX	A	0.05%
STWD	C	0.05%
ARE	C	0.05%
DGX	C	0.05%
NVR	D	0.05%
ZBH	F	0.05%
AAP	D	0.04%
HCC	C	0.04%
CTAS	A	0.04%
CPT	A	0.04%
IRM	A	0.04%
CPRT	C	0.04%
VNO	C	0.04%
AME	C	0.04%
BJ	A	0.04%
COLB	F	0.04%
AMKR	A	0.04%
AIZ	D	0.04%
PWR	A	0.04%
MSI	A	0.04%
CNX	C	0.04%
BERY	B	0.04%
GPI	B	0.04%
OZK	D	0.04%
TSCO	A	0.04%
LNT	D	0.04%
MCO	A	0.04%
LKQ	F	0.04%
DKS	A	0.04%
JLL	A	0.04%
MAA	B	0.04%
J	C	0.04%
FOX	B	0.04%
ROK	F	0.04%
PKG	B	0.04%
GLPI	C	0.04%
CDW	C	0.04%
AN	B	0.04%
TXT	C	0.04%
IPG	F	0.04%
JEF	B	0.04%
VFC	C	0.04%
WAB	B	0.04%
EWBC	C	0.04%
JHG	B	0.04%
VOYA	B	0.04%
ESS	A	0.04%
WU	D	0.04%
EXPD	B	0.04%
TOL	D	0.04%
MOH	F	0.04%
WCC	C	0.04%
INVH	A	0.04%
DRI	C	0.04%
ORI	D	0.04%
EXR	A	0.04%
KMX	C	0.04%
AL	C	0.04%
SIG	D	0.03%
DECK	B	0.03%
URBN	B	0.03%
GL	C	0.03%
RDN	C	0.03%
FNB	D	0.03%
AVY	A	0.03%
INCY	B	0.03%
ETRN	C	0.03%
TGNA	F	0.03%
FLR	A	0.03%
WFRD	C	0.03%
NNN	B	0.03%
HUBB	C	0.03%
HAS	C	0.03%
AMH	C	0.03%
CSL	A	0.03%
GDDY	B	0.03%
WSM	B	0.03%
NXST	D	0.03%
CNXC	D	0.03%
PAG	D	0.03%
HIW	C	0.03%
ONB	C	0.03%
SF	C	0.03%
MDU	C	0.03%
CBOE	D	0.03%
BXMT	C	0.03%
OGE	C	0.03%
PR	C	0.03%
IT	C	0.03%
CNO	B	0.03%
FMC	F	0.03%
NFG	C	0.03%
POST	D	0.03%
GPK	C	0.03%
ARCH	D	0.03%
ASB	C	0.03%
APLE	D	0.03%
WTRG	C	0.03%
VLY	D	0.03%
UDR	B	0.03%
GNW	D	0.03%
NWL	F	0.03%
SNV	C	0.03%
HSIC	D	0.03%
CASY	B	0.03%
FAF	D	0.03%
ABM	B	0.03%
PK	D	0.03%
KNX	F	0.03%
XYL	B	0.03%
AKAM	F	0.03%
UTHR	A	0.03%
TDY	D	0.03%
HII	D	0.03%
RL	B	0.03%
LYV	C	0.03%
ULTA	F	0.03%
CACI	A	0.03%
MPW	C	0.03%
ALV	D	0.03%
FYBR	B	0.03%
INGR	C	0.03%
VMC	C	0.03%
WBS	D	0.03%
SON	C	0.03%
JBHT	F	0.03%
SNA	D	0.03%
OGS	D	0.03%
BRO	A	0.03%
OHI	A	0.03%
MAN	D	0.03%
MLM	C	0.03%
HWM	B	0.03%
NOG	D	0.03%
TMHC	D	0.03%
CMC	D	0.03%
HP	F	0.03%
CPAY	D	0.03%
SKX	B	0.03%
WSO	A	0.03%
CCK	D	0.03%
KRC	D	0.03%
BKH	D	0.03%
AGCO	F	0.03%
MUSA	A	0.03%
GT	F	0.03%
DOV	B	0.03%
SANM	B	0.03%
KRG	B	0.02%
SEIC	C	0.02%
ERIE	C	0.02%
FLS	C	0.02%
RNST	D	0.02%
CPRI	F	0.02%
DY	C	0.02%
CIEN	F	0.02%
TTEK	B	0.02%
TXRH	B	0.02%
ELS	C	0.02%
KBR	C	0.02%
TNL	C	0.02%
CRL	D	0.02%
MIDD	D	0.02%
EVR	A	0.02%
XRX	F	0.02%
LEG	F	0.02%
MGY	C	0.02%
SLM	D	0.02%
RRX	D	0.02%
CABO	F	0.02%
LII	A	0.02%
PSTG	B	0.02%
IBTX	C	0.02%
GNTX	D	0.02%
VAC	F	0.02%
COLM	B	0.02%
PFS	F	0.02%
ASO	D	0.02%
PEB	D	0.02%
REXR	D	0.02%
MMS	B	0.02%
VVV	C	0.02%
NDSN	D	0.02%
GEF	D	0.02%
EAT	B	0.02%
ANDE	D	0.02%
MTN	F	0.02%
AXTA	B	0.02%
VAL	B	0.02%
CRC	D	0.02%
BHE	C	0.02%
EEFT	C	0.02%
POR	D	0.02%
FHB	C	0.02%
TYL	B	0.02%
PRI	B	0.02%
CNK	B	0.02%
BANC	D	0.02%
CBT	B	0.02%
WAFD	D	0.02%
AGO	C	0.02%
SEE	C	0.02%
SKYW	B	0.02%
NATL	B	0.02%
EFX	B	0.02%
GBX	C	0.02%
WOR	F	0.02%
SBAC	F	0.02%
KAR	D	0.02%
CXW	F	0.02%
BCC	D	0.02%
VSH	D	0.02%
SIGI	F	0.02%
PNM	D	0.02%
OI	F	0.02%
CW	B	0.02%
MLKN	D	0.02%
GEO	D	0.02%
AOS	C	0.02%
WAT	D	0.02%
TCBI	D	0.02%
SBRA	A	0.02%
FLO	D	0.02%
ATI	C	0.02%
SR	D	0.02%
TKR	D	0.02%
HLT	A	0.02%
PDCO	C	0.02%
BLD	B	0.02%
CBSH	D	0.02%
FFIV	D	0.02%
MSM	D	0.02%
HBI	C	0.02%
JBLU	D	0.02%
SFM	B	0.02%
IBOC	C	0.02%
ADC	B	0.02%
SAIC	D	0.02%
BC	F	0.02%
G	D	0.02%
FFBC	D	0.02%
ASH	B	0.02%
THG	D	0.02%
CWK	B	0.02%
COKE	B	0.02%
PTC	D	0.02%
LBRT	D	0.02%
AVNT	C	0.02%
SSB	D	0.02%
SNEX	D	0.02%
TRMB	C	0.02%
SFNC	D	0.02%
CFR	D	0.02%
AIRC	A	0.02%
ALE	B	0.02%
TDS	C	0.02%
PNFP	D	0.02%
UBSI	D	0.02%
TPH	D	0.02%
RPM	B	0.02%
WTFC	D	0.02%
EHC	B	0.02%
BRX	B	0.02%
SLGN	D	0.02%
SATS	C	0.02%
WWD	A	0.02%
FL	C	0.02%
RHI	F	0.02%
ESNT	B	0.02%
AM	B	0.02%
ST	C	0.02%
SWX	C	0.02%
DTM	A	0.02%
ZBRA	D	0.02%
PRGO	F	0.02%
CADE	D	0.02%
NYCB	F	0.02%
KBH	B	0.02%
MTH	D	0.02%
CG	D	0.02%
CWEN	C	0.02%
WYNN	D	0.02%
BKU	C	0.02%
TER	A	0.02%
JWN	B	0.02%
SEM	B	0.02%
CUZ	C	0.02%
UFPI	D	0.02%
BR	C	0.02%
CUBE	B	0.02%
PII	F	0.02%
MLI	D	0.02%
CALM	C	0.02%
H	C	0.02%
NSIT	B	0.02%
TRN	B	0.02%
SCI	B	0.02%
LAMR	C	0.02%
QRVO	B	0.02%
HRB	A	0.02%
TDG	B	0.02%
MTG	B	0.02%
MTZ	B	0.02%
ANSS	C	0.02%
JAZZ	C	0.02%
PB	D	0.02%
DEI	C	0.02%
HWC	D	0.02%
RMD	B	0.02%
VRSN	C	0.02%
ACM	C	0.02%
MTD	B	0.02%
CLH	A	0.02%
STE	D	0.02%
BIO	D	0.02%
HOLX	D	0.02%
CATY	C	0.02%
GHC	C	0.02%
MAS	C	0.02%
CR	B	0.02%
OSK	D	0.02%
PVH	C	0.02%
DAR	F	0.02%
OLN	D	0.02%
EME	B	0.02%
LTC	B	0.01%
MERC	D	0.01%
APOG	D	0.01%
CHCO	C	0.01%
MSGS	C	0.01%
AWR	D	0.01%
ROG	B	0.01%
RMBS	D	0.01%
HTZ	F	0.01%
CHH	D	0.01%
SCHL	D	0.01%
AZTA	C	0.01%
EZPW	C	0.01%
ESAB	C	0.01%
ESE	C	0.01%
AMBC	F	0.01%
FTRE	F	0.01%
KNF	C	0.01%
TECH	C	0.01%
MSA	C	0.01%
UFCS	D	0.01%
EGBN	F	0.01%
AMWD	D	0.01%
SAFT	D	0.01%
CPF	B	0.01%
VRTS	D	0.01%
BRKR	D	0.01%
AEIS	B	0.01%
MATV	C	0.01%
CAKE	B	0.01%
HCSG	F	0.01%
AZZ	B	0.01%
SBCF	D	0.01%
NHC	A	0.01%
JBT	B	0.01%
CHE	D	0.01%
ALGT	F	0.01%
BKE	C	0.01%
GTY	D	0.01%
CWT	D	0.01%
SKT	D	0.01%
MC	C	0.01%
EXP	C	0.01%
CPK	D	0.01%
RCM	B	0.01%
CAL	C	0.01%
AIN	D	0.01%
BHLB	D	0.01%
AWI	C	0.01%
MMSI	B	0.01%
GFF	D	0.01%
TRIP	F	0.01%
DCOM	D	0.01%
EIG	C	0.01%
EXLS	D	0.01%
ICUI	B	0.01%
OUT	D	0.01%
PJT	B	0.01%
HAIN	C	0.01%
FTDR	C	0.01%
BGS	F	0.01%
SCL	D	0.01%
PLUS	C	0.01%
VC	F	0.01%
CARG	B	0.01%
FSS	B	0.01%
FWRD	C	0.01%
FCPT	B	0.01%
CBU	D	0.01%
RES	F	0.01%
MGEE	D	0.01%
HPP	D	0.01%
GES	F	0.01%
FIVE	F	0.01%
BLMN	F	0.01%
DORM	B	0.01%
ENR	C	0.01%
TPX	D	0.01%
CVCO	C	0.01%
DAY	F	0.01%
ALKS	C	0.01%
BDC	B	0.01%
THS	F	0.01%
NSP	F	0.01%
JJSF	B	0.01%
NGVT	F	0.01%
AMCX	F	0.01%
EPC	B	0.01%
HLX	D	0.01%
GO	F	0.01%
SFBS	C	0.01%
STC	C	0.01%
NOVT	B	0.01%
SGH	B	0.01%
SMPL	C	0.01%
MORN	D	0.01%
AMN	F	0.01%
MNRO	F	0.01%
TDC	F	0.01%
UE	B	0.01%
SHO	D	0.01%
KN	B	0.01%
OSIS	C	0.01%
WST	F	0.01%
HQY	B	0.01%
RYN	B	0.01%
HALO	B	0.01%
FELE	C	0.01%
B	B	0.01%
AKR	B	0.01%
AMED	F	0.01%
ZD	D	0.01%
YELP	F	0.01%
PIPR	A	0.01%
WD	C	0.01%
IPGP	F	0.01%
SBH	D	0.01%
BCPC	B	0.01%
NBR	F	0.01%
UNF	F	0.01%
KWR	D	0.01%
CLW	B	0.01%
MASI	C	0.01%
OFG	C	0.01%
FORM	B	0.01%
WEN	F	0.01%
LXP	B	0.01%
BWXT	C	0.01%
SCVL	B	0.01%
CGNX	B	0.01%
STRA	D	0.01%
LANC	C	0.01%
STBA	C	0.01%
RXO	D	0.01%
KLIC	C	0.01%
GVA	B	0.01%
SPTN	F	0.01%
RWT	B	0.01%
MYRG	D	0.01%
SSD	D	0.01%
MTSI	A	0.01%
CWEN	C	0.01%
AROC	C	0.01%
HELE	F	0.01%
CVI	F	0.01%
ONTO	B	0.01%
SYNA	D	0.01%
SXC	D	0.01%
PRK	B	0.01%
NBTB	C	0.01%
UNFI	C	0.01%
HMN	D	0.01%
AHCO	B	0.01%
PHIN	C	0.01%
IDCC	A	0.01%
KELYA	D	0.01%
FFIN	D	0.01%
MEDP	B	0.01%
PRDO	C	0.01%
IRT	A	0.01%
ENSG	B	0.01%
GTLS	D	0.01%
ARCB	F	0.01%
MKTX	F	0.01%
PECO	F	0.01%
ACIW	B	0.01%
PATK	C	0.01%
AVAV	A	0.01%
IOSP	C	0.01%
CCOI	F	0.01%
BDN	C	0.01%
KALU	D	0.01%
PBI	C	0.01%
BOH	C	0.01%
FDP	F	0.01%
LZB	A	0.01%
LRN	B	0.01%
WSFS	C	0.01%
PINC	F	0.01%
KMT	D	0.01%
ITGR	C	0.01%
ENOV	F	0.01%
SHOO	B	0.01%
NPO	C	0.01%
SXT	B	0.01%
CRI	F	0.01%
CNXN	C	0.01%
FND	B	0.01%
WERN	D	0.01%
SITC	B	0.01%
WWW	B	0.01%
BRC	B	0.01%
WTS	D	0.01%
CBRL	F	0.01%
DLX	B	0.01%
BGC	D	0.01%
MODG	D	0.01%
CTRE	B	0.01%
RH	F	0.01%
NWS	B	0.01%
PBH	D	0.01%
WS	D	0.01%
NSA	A	0.01%
RLI	C	0.01%
APAM	D	0.01%
WH	C	0.01%
PUMP	F	0.01%
SAH	B	0.01%
AXL	F	0.01%
TTMI	A	0.01%
LITE	B	0.01%
ROL	A	0.01%
LOPE	C	0.01%
EGP	C	0.01%
VSAT	F	0.01%
NYT	B	0.01%
OLLI	A	0.01%
TRMK	C	0.01%
POOL	D	0.01%
NBIX	D	0.01%
EPR	D	0.01%
HGV	D	0.01%
MTX	B	0.01%
ECPG	F	0.01%
LCII	F	0.01%
FHI	D	0.01%
KW	C	0.01%
OPCH	D	0.01%
RBC	B	0.01%
CENTA	D	0.01%
OTTR	D	0.01%
SAIA	C	0.01%
SCSC	C	0.01%
NEU	D	0.01%
INDB	F	0.01%
VBTX	C	0.01%
WMS	B	0.01%
DLB	F	0.01%
BANF	D	0.01%
BYD	D	0.01%
CRK	C	0.01%
DIOD	C	0.01%
FUL	C	0.01%
HLI	C	0.01%
GBCI	C	0.01%
GIII	D	0.01%
INVA	B	0.01%
FR	C	0.01%
PLXS	D	0.01%
UCBI	D	0.01%
HNI	C	0.01%
MKSI	A	0.01%
FIX	C	0.01%
SMG	D	0.01%
PSMT	D	0.01%
HI	D	0.01%
FBP	C	0.01%
UA	C	0.01%
GGG	D	0.01%
SLCA	B	0.01%
ATGE	B	0.01%
AUB	D	0.01%
UAA	C	0.01%
FN	A	0.01%
HOPE	D	0.01%
FDS	D	0.01%
AIT	C	0.01%
PPBI	F	0.01%
IDA	D	0.01%
TEX	D	0.01%
CNM	C	0.01%
ACA	B	0.01%
NWN	F	0.01%
ABCB	C	0.01%
MSCI	D	0.01%
DBX	F	0.01%
LECO	F	0.01%
XRAY	F	0.01%
NWBI	D	0.01%
FCN	D	0.01%
TFX	D	0.01%
NVST	F	0.01%
AYI	D	0.01%
WEX	F	0.01%
MAC	D	0.01%
NAVI	F	0.01%
SRCL	B	0.01%
BCO	B	0.01%
VRSK	A	0.01%
AEO	D	0.01%
ACHC	D	0.01%
ODP	D	0.01%
VMI	B	0.01%
NWE	D	0.01%
KFY	B	0.01%
CVBF	D	0.01%
PMT	C	0.01%
MCY	D	0.01%
LSTR	C	0.01%
SLVM	B	0.01%
ATR	B	0.01%
GMED	A	0.01%
KTB	B	0.01%
RC	D	0.01%
JKHY	D	0.01%
LFUS	B	0.01%
RGLD	D	0.01%
IEX	D	0.01%
CHDN	B	0.01%
ITT	C	0.01%
SPNT	B	0.01%
PPC	C	0.01%
ASGN	D	0.01%
MOG.A	C	0.01%
EXEL	D	0.01%
LPX	B	0.01%
CTLT	C	0.01%
TTC	B	0.01%
HTH	D	0.01%
FRT	D	0.01%
SLG	A	0.01%
FULT	C	0.01%
UMBF	C	0.01%
DPZ	A	0.01%
LPG	C	0.01%
RUSHA	D	0.01%
ARI	D	0.01%
HOMB	C	0.01%
JBGS	C	0.01%
STAG	C	0.01%
KMPR	C	0.01%
NJR	D	0.01%
DCI	D	0.01%
AVA	D	0.01%
TALO	D	0.01%
CRS	C	0.01%
BANR	B	0.01%
HUBG	B	0.01%
GATX	B	0.01%
VSTS	F	0.01%
GNL	D	0.01%
CRUS	A	0.01%
UHT	B	0.0%
NPK	D	0.0%
LNN	C	0.0%
CHUY	F	0.0%
XPEL	F	0.0%
VCEL	D	0.0%
CACC	D	0.0%
MSEX	D	0.0%
EXPO	B	0.0%
CNMD	D	0.0%
VREX	F	0.0%
CLB	C	0.0%
LESL	D	0.0%
LQDT	B	0.0%
HCI	D	0.0%
TTEC	F	0.0%
BMI	B	0.0%
MEI	F	0.0%
MED	F	0.0%
ATNI	F	0.0%
RGP	F	0.0%
OMCL	F	0.0%
COHU	C	0.0%
CMP	F	0.0%
NFBK	D	0.0%
PGNY	F	0.0%
HVT	D	0.0%
JBSS	D	0.0%
PCRX	D	0.0%
EPAC	B	0.0%
SSTK	D	0.0%
PCTY	F	0.0%
MRCY	D	0.0%
ASTE	F	0.0%
MYE	F	0.0%
DV	D	0.0%
IPAR	F	0.0%
SXI	D	0.0%
HRMY	F	0.0%
CTS	B	0.0%
PRLB	F	0.0%
CFFN	B	0.0%
FOXF	C	0.0%
DRQ	F	0.0%
PZZA	F	0.0%
CCRN	F	0.0%
TMP	D	0.0%
MCS	D	0.0%
KNSL	D	0.0%
XNCR	F	0.0%
SLAB	F	0.0%
PAYC	F	0.0%
WDFC	D	0.0%
CENT	F	0.0%
CSGS	F	0.0%
RGR	F	0.0%
VIAV	D	0.0%
TILE	C	0.0%
AMSF	F	0.0%
BSIG	D	0.0%
WING	A	0.0%
AMPH	F	0.0%
SPSC	C	0.0%
TNC	D	0.0%
SJW	F	0.0%
IRDM	F	0.0%
CVGW	F	0.0%
GDEN	D	0.0%
JACK	F	0.0%
ASIX	F	0.0%
WABC	D	0.0%
HTLD	C	0.0%
BLKB	D	0.0%
CRVL	C	0.0%
ALG	D	0.0%
USNA	D	0.0%
DXPE	D	0.0%
MCW	C	0.0%
SMTC	D	0.0%
THRY	F	0.0%
MD	D	0.0%
GPRE	F	0.0%
ALGM	D	0.0%
DFIN	D	0.0%
SMP	F	0.0%
PRGS	F	0.0%
NUS	F	0.0%
PAHC	B	0.0%
MANH	B	0.0%
HFWA	D	0.0%
QLYS	F	0.0%
HLIT	C	0.0%
FBNC	D	0.0%
SIX	A	0.0%
WNC	D	0.0%
ALRM	D	0.0%
POWI	C	0.0%
IRWD	F	0.0%
LIVN	D	0.0%
OLED	A	0.0%
RILY	F	0.0%
SUPN	D	0.0%
NVEE	F	0.0%
HAFC	D	0.0%
TRST	D	0.0%
LKFN	D	0.0%
NTCT	F	0.0%
REX	D	0.0%
MATW	F	0.0%
JOE	D	0.0%
PRFT	B	0.0%
USPH	C	0.0%
ETD	D	0.0%
CVLT	A	0.0%
VECO	A	0.0%
PRAA	F	0.0%
CNSL	C	0.0%
UTL	D	0.0%
IART	D	0.0%
FCF	D	0.0%
TR	F	0.0%
PRA	F	0.0%
EVTC	D	0.0%
VTOL	C	0.0%
MMI	D	0.0%
AIR	C	0.0%
ENV	D	0.0%
PFBC	C	0.0%
HWKN	A	0.0%
BRKL	F	0.0%
MRTN	D	0.0%
SHAK	D	0.0%
AAT	B	0.0%
TWI	F	0.0%
MYGN	B	0.0%
NBHC	B	0.0%
BFS	B	0.0%
MTRN	F	0.0%
CORT	C	0.0%
CSR	B	0.0%
MOV	D	0.0%
SBSI	D	0.0%
OXM	D	0.0%
LGND	C	0.0%
VRRM	B	0.0%
HZO	C	0.0%
HXL	D	0.0%

VLU Underweight 474 Positions Relative to SPGM

Symbol	Grade	Weight
TSM	B	-1.0%
TM	D	-0.31%
NVS	B	-0.24%
SONY	D	-0.19%
BABA	F	-0.17%
UL	A	-0.17%
IBN	C	-0.16%
MUFG	C	-0.15%
CNI	D	-0.15%
INFY	B	-0.14%
TD	F	-0.12%
RDY	C	-0.12%
CRWD	A	-0.11%
AZN	B	-0.1%
PDD	C	-0.1%
MELI	C	-0.09%
SHOP	D	-0.09%
CHT	A	-0.09%
VALE	F	-0.08%
DEO	F	-0.08%
UMH	C	-0.08%
UMC	A	-0.08%
SMFG	B	-0.08%
HDB	B	-0.07%
STLA	F	-0.07%
BCS	B	-0.06%
VRT	C	-0.06%
MFG	D	-0.06%
WIT	B	-0.06%
TCOM	D	-0.06%
PKX	F	-0.06%
MRVL	B	-0.05%
TTD	A	-0.05%
COIN	C	-0.05%
NMR	C	-0.05%
ITUB	D	-0.05%
LYG	B	-0.05%
PLTR	B	-0.05%
E	D	-0.05%
KB	B	-0.04%
SNOW	F	-0.04%
GEV	A	-0.04%
TMDX	B	-0.04%
MOD	C	-0.04%
GOOD	B	-0.04%
DDOG	C	-0.03%
AXNX	C	-0.03%
DELL	B	-0.03%
NET	C	-0.03%
YUMC	F	-0.03%
BBD	F	-0.03%
PBR	D	-0.03%
BIDU	F	-0.03%
HMC	D	-0.03%
BRSP	D	-0.03%
SE	A	-0.03%
HIMS	B	-0.03%
DX	C	-0.03%
GGB	F	-0.02%
TAL	F	-0.02%
CVNA	B	-0.02%
AIV	D	-0.02%
QTWO	C	-0.02%
KOS	F	-0.02%
MDB	F	-0.02%
APP	B	-0.02%
SNAP	B	-0.02%
DYN	B	-0.02%
LI	F	-0.02%
HUBS	D	-0.02%
MSTR	C	-0.02%
ABEV	F	-0.02%
AZEK	C	-0.02%
TEAM	F	-0.02%
GOLD	C	-0.02%
BABA	F	-0.02%
ZS	C	-0.02%
HOV	D	-0.02%
TAC	C	-0.02%
WDAY	F	-0.02%
SHG	C	-0.02%
WTTR	B	-0.02%
PINS	A	-0.02%
MT	D	-0.02%
DKNG	C	-0.02%
DASH	D	-0.02%
FTI	C	-0.02%
ITCI	B	-0.02%
SQ	F	-0.02%
ALNY	C	-0.01%
JELD	F	-0.01%
RXRX	B	-0.01%
BCRX	C	-0.01%
FLNC	C	-0.01%
NSSC	B	-0.01%
BLFS	C	-0.01%
BASE	F	-0.01%
ATKR	F	-0.01%
CIFR	B	-0.01%
DNA	F	-0.01%
PACK	D	-0.01%
MEG	B	-0.01%
PNTG	B	-0.01%
SQM	F	-0.01%
RPAY	B	-0.01%
VITL	B	-0.01%
RVLV	F	-0.01%
CMPR	D	-0.01%
RKLB	B	-0.01%
IQ	F	-0.01%
LOB	D	-0.01%
AI	C	-0.01%
ENVX	C	-0.01%
U	F	-0.01%
IMVT	D	-0.01%
BE	C	-0.01%
BGNE	D	-0.01%
LBRDK	F	-0.01%
PHI	C	-0.01%
INTA	D	-0.01%
LASR	C	-0.01%
EXAS	F	-0.01%
SLP	C	-0.01%
ELAN	B	-0.01%
ZETA	C	-0.01%
CLNE	D	-0.01%
MITK	F	-0.01%
BZ	C	-0.01%
PAY	D	-0.01%
ROKU	F	-0.01%
Z	B	-0.01%
W	F	-0.01%
ULH	D	-0.01%
RIOT	C	-0.01%
RLX	F	-0.01%
CLBT	B	-0.01%
FUTU	C	-0.01%
JKS	F	-0.01%
ACMR	D	-0.01%
DOCU	D	-0.01%
GSAT	F	-0.01%
FOUR	C	-0.01%
OSW	B	-0.01%
XPEV	F	-0.01%
JBI	C	-0.01%
TWLO	F	-0.01%
SOFI	F	-0.01%
ZTO	C	-0.01%
DQ	F	-0.01%
ASPN	B	-0.01%
MGNI	C	-0.01%
PRTA	F	-0.01%
PHR	F	-0.01%
BZH	C	-0.01%
AGNC	A	-0.01%
PTCT	C	-0.01%
SRPT	D	-0.01%
COMP	D	-0.01%
RNA	B	-0.01%
MNDY	B	-0.01%
SEMR	C	-0.01%
IDYA	D	-0.01%
AKRO	C	-0.01%
INMD	F	-0.01%
BLBD	B	-0.01%
EVBG	D	-0.01%
SQ	F	-0.01%
ERJ	C	-0.01%
CLDX	F	-0.01%
MBIN	C	-0.01%
TGTX	B	-0.01%
MRC	C	-0.01%
MDGL	B	-0.01%
THR	D	-0.01%
HSTM	B	-0.01%
AKO.A	B	-0.01%
BEKE	D	-0.01%
TOST	C	-0.01%
AFRM	F	-0.01%
SID	D	-0.01%
NIO	F	-0.01%
MARA	B	-0.01%
RYTM	B	-0.01%
FLNG	D	-0.01%
OKTA	D	-0.01%
RIVN	C	-0.01%
VERX	B	-0.01%
TWST	B	-0.01%
GERN	C	-0.01%
CNH	D	-0.01%
INSP	D	-0.01%
ADMA	B	-0.01%
TME	B	-0.01%
VEEV	F	-0.01%
BBIO	C	-0.01%
GMRE	B	-0.01%
RBLX	C	-0.01%
ACEL	F	-0.01%
IMXI	C	-0.01%
VIPS	D	-0.01%
ZM	F	-0.01%
CLSK	B	-0.01%
SKY	C	-0.01%
TEVA	B	-0.01%
SRG	F	-0.0%
KRYS	C	-0.0%
XPEV	F	-0.0%
LI	F	-0.0%
SMWB	C	-0.0%
ALEC	F	-0.0%
ZNTL	F	-0.0%
JAMF	F	-0.0%
JOBY	C	-0.0%
ATUS	D	-0.0%
TH	F	-0.0%
OEC	D	-0.0%
MORF	F	-0.0%
OLMA	C	-0.0%
DADA	F	-0.0%
REPX	D	-0.0%
CRCT	C	-0.0%
FLWS	C	-0.0%
AGL	D	-0.0%
FNA	F	-0.0%
BMBL	F	-0.0%
TPB	B	-0.0%
CGEM	D	-0.0%
PKST	F	-0.0%
BOC	D	-0.0%
GDS	C	-0.0%
MCB	F	-0.0%
DENN	F	-0.0%
MLCO	C	-0.0%
MLNK	B	-0.0%
EDIT	F	-0.0%
PRVA	F	-0.0%
TELL	D	-0.0%
CABA	F	-0.0%
FSBC	C	-0.0%
FIGS	D	-0.0%
OLO	F	-0.0%
KE	C	-0.0%
PFC	D	-0.0%
MRVI	F	-0.0%
VERV	F	-0.0%
ORLA	D	-0.0%
TMCI	F	-0.0%
LAW	F	-0.0%
CTKB	F	-0.0%
SAVA	F	-0.0%
QFIN	B	-0.0%
CNDT	F	-0.0%
BEAM	D	-0.0%
MNSO	F	-0.0%
AMRC	C	-0.0%
PDFS	B	-0.0%
APPN	F	-0.0%
RENB	F	-0.0%
ELVN	C	-0.0%
SGRY	F	-0.0%
CECO	C	-0.0%
NKLA	F	-0.0%
ZUO	C	-0.0%
MAX	D	-0.0%
LPRO	C	-0.0%
VNET	C	-0.0%
DH	F	-0.0%
KRUS	D	-0.0%
NCNO	C	-0.0%
SOUN	D	-0.0%
SANA	F	-0.0%
MDXG	F	-0.0%
ETNB	F	-0.0%
BVN	B	-0.0%
OSPN	C	-0.0%
XPOF	C	-0.0%
LAND	C	-0.0%
GRPN	C	-0.0%
FUBO	F	-0.0%
YOU	C	-0.0%
HURN	C	-0.0%
LMND	D	-0.0%
MODN	B	-0.0%
IRTC	D	-0.0%
BROS	B	-0.0%
SWBI	C	-0.0%
ALHC	C	-0.0%
CXM	F	-0.0%
ALTG	D	-0.0%
AMC	D	-0.0%
TLRY	F	-0.0%
S	D	-0.0%
VCYT	C	-0.0%
ATEN	D	-0.0%
PACB	F	-0.0%
IDT	D	-0.0%
RVNC	F	-0.0%
RIG	F	-0.0%
LILAK	C	-0.0%
KNSA	C	-0.0%
PDFS	B	-0.0%
ESTA	D	-0.0%
QTRX	F	-0.0%
ENIC	D	-0.0%
ULCC	F	-0.0%
ATRO	C	-0.0%
FVRR	D	-0.0%
LWLG	F	-0.0%
APLS	F	-0.0%
SIBN	F	-0.0%
HAYW	D	-0.0%
HRI	D	-0.0%
NOVA	C	-0.0%
TASK	C	-0.0%
GLBE	F	-0.0%
SHLS	F	-0.0%
RXST	C	-0.0%
AMRK	D	-0.0%
HL	D	-0.0%
MQ	F	-0.0%
CCB	B	-0.0%
IAS	D	-0.0%
ATEC	F	-0.0%
ACHR	F	-0.0%
PCVX	C	-0.0%
YY	F	-0.0%
LCID	F	-0.0%
PUBM	D	-0.0%
LAZR	F	-0.0%
NNDM	F	-0.0%
MNTK	C	-0.0%
ATHM	C	-0.0%
GH	C	-0.0%
ARLO	C	-0.0%
IAG	C	-0.0%
IIIV	D	-0.0%
NEXT	C	-0.0%
CYRX	F	-0.0%
PRO	D	-0.0%
VZIO	B	-0.0%
SIGA	D	-0.0%
YEXT	F	-0.0%
XPRO	B	-0.0%
ARDX	F	-0.0%
HTHT	F	-0.0%
NTRA	B	-0.0%
TITN	F	-0.0%
CCBG	C	-0.0%
RVMD	C	-0.0%
DHC	C	-0.0%
FC	F	-0.0%
GRAB	C	-0.0%
RKT	C	-0.0%
FSLY	F	-0.0%
FRSH	F	-0.0%
VRDN	F	-0.0%
PL	D	-0.0%
SQSP	B	-0.0%
BXC	D	-0.0%
MOMO	D	-0.0%
DFH	F	-0.0%
AXSM	B	-0.0%
DUOL	C	-0.0%
CFLT	D	-0.0%
CSTL	C	-0.0%
MTW	F	-0.0%
FIVN	F	-0.0%
NVCR	C	-0.0%
EVRI	D	-0.0%
GNK	D	-0.0%
LEU	F	-0.0%
WRBY	C	-0.0%
VRNS	C	-0.0%
UEC	D	-0.0%
EB	F	-0.0%
UWMC	B	-0.0%
APPF	C	-0.0%
ACCD	F	-0.0%
BIGC	C	-0.0%
FSM	D	-0.0%
RNG	F	-0.0%
SNDX	F	-0.0%
FROG	F	-0.0%
PFSI	B	-0.0%
BYND	F	-0.0%
PAR	B	-0.0%
LSPD	D	-0.0%
SDGR	F	-0.0%
BRZE	F	-0.0%
PTGX	C	-0.0%
NUVL	C	-0.0%
FDMT	D	-0.0%
PTON	C	-0.0%
PCT	C	-0.0%
DCO	B	-0.0%
PGC	D	-0.0%
FCEL	F	-0.0%
UPWK	F	-0.0%
ENFN	F	-0.0%
PETQ	B	-0.0%
PHAT	B	-0.0%
KC	F	-0.0%
TXG	F	-0.0%
TRNS	C	-0.0%
IBUY	B	-0.0%
OPEN	F	-0.0%
PRCT	C	-0.0%
ACVA	C	-0.0%
GDYN	F	-0.0%
TUYA	F	-0.0%
WEAV	F	-0.0%
CASS	D	-0.0%
DOCN	C	-0.0%
PLUG	F	-0.0%
LYFT	F	-0.0%
CIG	D	-0.0%
SITE	F	-0.0%
CRMT	D	-0.0%
PLPC	C	-0.0%
CHGX	A	-0.0%
AUR	F	-0.0%
OSCR	C	-0.0%
KEP	D	-0.0%
HUYA	D	-0.0%
NTLA	C	-0.0%
ARVN	F	-0.0%
SPR	C	-0.0%
ZLAB	C	-0.0%
BILI	B	-0.0%
HEES	F	-0.0%
UPST	F	-0.0%
ARCT	D	-0.0%
VMEO	D	-0.0%
INSW	C	-0.0%
GDRX	C	-0.0%
RLJ	D	-0.0%
HCP	A	-0.0%
KYMR	D	-0.0%
PATH	F	-0.0%
FLYW	F	-0.0%
ALKT	C	-0.0%
CHPT	D	-0.0%
TIGR	B	-0.0%
ASAN	F	-0.0%
DMRC	C	-0.0%
CTLP	C	-0.0%
SPT	F	-0.0%
TIGO	C	-0.0%
INDI	C	-0.0%
LEGH	C	-0.0%
AUPH	C	-0.0%
ESTC	C	-0.0%
QS	F	-0.0%
WIX	C	-0.0%
BILL	F	-0.0%
CYH	C	-0.0%
USLM	B	-0.0%
TDOC	F	-0.0%
CDE	B	-0.0%
RCKT	F	-0.0%
ARRY	C	-0.0%
AMPS	C	-0.0%
PIXY	D	-0.0%
LIND	F	-0.0%
CIB	D	-0.0%
VPG	D	-0.0%
GTLB	F	-0.0%
RDFN	D	-0.0%
NVAX	C	-0.0%
EVH	F	-0.0%
CCO	F	-0.0%
SRRK	F	-0.0%
VKTX	D	-0.0%
SMAR	C	-0.0%