VLU vs. SPY ETF Comparison

Comparison of SPDR S&P 1500 Value Tilt ETF (VLU) to SPDR S&P 500 (SPY)

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

$183.84

Average Daily Volume

9,476

Number of Holdings ^*

1423

* may have additional holdings in another (foreign) market

SPY

SPDR S&P 500

SPY Description

The investment seeks to provide investment results that, before expenses, generally correspond to the price and yield performance of the S&P 500 Index. The Trust holds the Portfolio and cash and is not actively "managed" by traditional methods. To maintain the correspondence between the composition and weightings of Portfolio Securities and component stocks of the S&P 500 Index, the Trustee adjusts the Portfolio from time to time to conform to periodic changes in the identity and/or relative weightings of Index Securities.

Grade (RS Rating)

Last Trade

$571.47

Average Daily Volume

50,905,033

Number of Holdings ^*

496

* may have additional holdings in another (foreign) market

Performance

Period	VLU	SPY
30 Days	2.50%	2.67%
60 Days	3.86%	5.22%
90 Days	7.38%	5.33%
12 Months	29.23%	35.16%

493 Overlapping Holdings

Symbol	Grade	Weight in VLU	Weight in SPY	Overlap
A	C	0.04%	0.09%	0.04%
AAL	D	0.06%	0.02%	0.02%
AAPL	C	2.39%	6.72%	2.39%
ABBV	B	0.45%	0.72%	0.45%
ABNB	D	0.06%	0.11%	0.06%
ABT	C	0.25%	0.42%	0.25%
ACGL	B	0.14%	0.09%	0.09%
ACN	C	0.3%	0.45%	0.3%
ADBE	F	0.18%	0.48%	0.18%
ADI	C	0.14%	0.23%	0.14%
ADM	D	0.27%	0.06%	0.06%
ADP	C	0.08%	0.24%	0.08%
ADSK	B	0.03%	0.12%	0.03%
AEE	B	0.09%	0.05%	0.05%
AEP	C	0.17%	0.11%	0.11%
AES	C	0.05%	0.03%	0.03%
AFL	A	0.22%	0.12%	0.12%
AIG	D	0.25%	0.1%	0.1%
AIZ	B	0.04%	0.02%	0.02%
AJG	D	0.05%	0.13%	0.05%
AKAM	D	0.03%	0.03%	0.03%
ALB	D	0.04%	0.02%	0.02%
ALGN	D	0.03%	0.04%	0.03%
ALL	C	0.16%	0.11%	0.11%
ALLE	B	0.02%	0.03%	0.02%
AMAT	D	0.12%	0.33%	0.12%
AMCR	B	0.06%	0.03%	0.03%
AMD	C	0.14%	0.51%	0.14%
AME	C	0.03%	0.08%	0.03%
AMGN	D	0.28%	0.38%	0.28%
AMP	B	0.1%	0.1%	0.1%
AMT	C	0.16%	0.23%	0.16%
AMZN	C	1.96%	3.61%	1.96%
ANET	C	0.07%	0.19%	0.07%
ANSS	D	0.02%	0.06%	0.02%
AON	B	0.07%	0.16%	0.07%
AOS	B	0.02%	0.02%	0.02%
APA	F	0.05%	0.02%	0.02%
APD	B	0.14%	0.14%	0.14%
APH	C	0.06%	0.16%	0.06%
APTV	D	0.06%	0.04%	0.04%
ARE	C	0.06%	0.04%	0.04%
ATO	B	0.07%	0.04%	0.04%
AVB	C	0.07%	0.07%	0.07%
AVGO	C	0.42%	1.49%	0.42%
AVY	C	0.02%	0.04%	0.02%
AWK	C	0.06%	0.06%	0.06%
AXON	B	0.01%	0.06%	0.01%
AXP	B	0.35%	0.32%	0.32%
AZO	B	0.07%	0.11%	0.07%
BA	F	0.14%	0.19%	0.14%
BAC	D	1.41%	0.57%	0.57%
BALL	C	0.05%	0.04%	0.04%
BAX	C	0.06%	0.04%	0.04%
BBWI	D	0.02%	0.01%	0.01%
BBY	A	0.16%	0.04%	0.04%
BDX	D	0.09%	0.14%	0.09%
BEN	F	0.06%	0.01%	0.01%
BG	F	0.13%	0.03%	0.03%
BIIB	F	0.09%	0.06%	0.06%
BIO	C	0.03%	0.02%	0.02%
BK	B	0.28%	0.11%	0.11%
BKNG	B	0.11%	0.29%	0.11%
BKR	C	0.1%	0.07%	0.07%
BLDR	C	0.05%	0.05%	0.05%
BLK	B	0.2%	0.27%	0.2%
BMY	C	0.32%	0.21%	0.21%
BR	C	0.02%	0.05%	0.02%
BRK.A	C	2.41%	1.75%	1.75%
BRO	C	0.03%	0.05%	0.03%
BSX	B	0.11%	0.26%	0.11%
BWA	C	0.07%	0.02%	0.02%
BX	C	0.13%	0.23%	0.13%
BXP	C	0.06%	0.02%	0.02%
C	C	1.05%	0.24%	0.24%
CAG	B	0.08%	0.03%	0.03%
CAH	C	0.24%	0.06%	0.06%
CARR	B	0.09%	0.14%	0.09%
CAT	B	0.24%	0.37%	0.24%
CB	B	0.38%	0.25%	0.25%
CBOE	C	0.03%	0.05%	0.03%
CBRE	B	0.08%	0.08%	0.08%
CCI	C	0.11%	0.11%	0.11%
CCL	C	0.17%	0.04%	0.04%
CDNS	D	0.02%	0.16%	0.02%
CDW	D	0.04%	0.06%	0.04%
CE	D	0.04%	0.03%	0.03%
CEG	C	0.05%	0.13%	0.05%
CF	B	0.06%	0.03%	0.03%
CFG	D	0.17%	0.04%	0.04%
CHD	C	0.03%	0.05%	0.03%
CHRW	B	0.06%	0.03%	0.03%
CHTR	D	0.29%	0.07%	0.07%
CI	C	0.39%	0.21%	0.21%
CINF	C	0.07%	0.05%	0.05%
CL	C	0.1%	0.18%	0.1%
CLX	C	0.03%	0.04%	0.03%
CMCSA	C	0.61%	0.33%	0.33%
CME	B	0.1%	0.16%	0.1%
CMG	D	0.04%	0.17%	0.04%
CMI	B	0.12%	0.09%	0.09%
CMS	B	0.06%	0.04%	0.04%
CNC	D	0.36%	0.09%	0.09%
CNP	C	0.07%	0.04%	0.04%
COF	B	0.52%	0.12%	0.12%
COP	F	0.42%	0.27%	0.27%
COST	C	0.29%	0.84%	0.29%
CPAY	B	0.04%	0.05%	0.04%
CPB	C	0.05%	0.02%	0.02%
CPRT	D	0.03%	0.09%	0.03%
CPT	C	0.04%	0.03%	0.03%
CRL	F	0.01%	0.02%	0.01%
CRM	C	0.23%	0.52%	0.23%
CSCO	B	0.47%	0.43%	0.43%
CSGP	D	0.03%	0.07%	0.03%
CSX	C	0.11%	0.14%	0.11%
CTAS	C	0.04%	0.15%	0.04%
CTLT	B	0.01%	0.02%	0.01%
CTRA	F	0.06%	0.04%	0.04%
CTSH	B	0.11%	0.08%	0.08%
CTVA	B	0.09%	0.09%	0.09%
CVS	D	0.64%	0.16%	0.16%
CVX	F	1.28%	0.52%	0.52%
CZR	C	0.03%	0.02%	0.02%
D	C	0.25%	0.1%	0.1%
DAL	C	0.27%	0.06%	0.06%
DAY	D	0.01%	0.02%	0.01%
DD	B	0.18%	0.07%	0.07%
DE	A	0.23%	0.22%	0.22%
DECK	C	0.02%	0.05%	0.02%
DFS	C	0.14%	0.07%	0.07%
DG	F	0.05%	0.04%	0.04%
DGX	B	0.05%	0.04%	0.04%
DHI	C	0.13%	0.12%	0.12%
DHR	B	0.13%	0.38%	0.13%
DIS	D	0.27%	0.36%	0.27%
DLR	B	0.04%	0.11%	0.04%
DLTR	F	0.04%	0.03%	0.03%
DOC	B	0.05%	0.03%	0.03%
DOV	B	0.03%	0.06%	0.03%
DOW	C	0.19%	0.08%	0.08%
DPZ	D	0.01%	0.03%	0.01%
DRI	C	0.05%	0.04%	0.04%
DTE	A	0.1%	0.05%	0.05%
DUK	B	0.35%	0.19%	0.19%
DVA	B	0.08%	0.02%	0.02%
DVN	F	0.13%	0.05%	0.05%
DXCM	F	0.01%	0.06%	0.01%
EA	D	0.04%	0.07%	0.04%
EBAY	B	0.09%	0.07%	0.07%
ECL	B	0.05%	0.13%	0.05%
ED	B	0.14%	0.08%	0.08%
EFX	C	0.02%	0.08%	0.02%
EG	B	0.09%	0.04%	0.04%
EIX	B	0.11%	0.07%	0.07%
EL	D	0.04%	0.04%	0.04%
ELV	D	0.41%	0.27%	0.27%
EMN	B	0.05%	0.03%	0.03%
EMR	D	0.14%	0.13%	0.13%
ENPH	D	0.01%	0.03%	0.01%
EOG	D	0.24%	0.15%	0.15%
EPAM	F	0.01%	0.02%	0.01%
EQIX	B	0.07%	0.17%	0.07%
EQR	C	0.08%	0.06%	0.06%
EQT	C	0.11%	0.04%	0.04%
ES	B	0.09%	0.05%	0.05%
ESS	C	0.04%	0.04%	0.04%
ETN	C	0.12%	0.27%	0.12%
ETR	A	0.14%	0.06%	0.06%
ETSY	D	0.01%	0.01%	0.01%
EVRG	B	0.07%	0.03%	0.03%
EW	F	0.04%	0.09%	0.04%
EXC	B	0.21%	0.08%	0.08%
EXPD	B	0.04%	0.04%	0.04%
EXPE	C	0.04%	0.04%	0.04%
EXR	C	0.05%	0.08%	0.05%
F	F	0.38%	0.09%	0.09%
FANG	F	0.1%	0.07%	0.07%
FAST	C	0.04%	0.09%	0.04%
FCX	C	0.08%	0.13%	0.08%
FDS	C	0.01%	0.04%	0.01%
FDX	D	0.23%	0.14%	0.14%
FE	B	0.07%	0.05%	0.05%
FFIV	B	0.02%	0.03%	0.02%
FICO	B	0.01%	0.1%	0.01%
FIS	C	0.11%	0.1%	0.1%
FITB	B	0.11%	0.06%	0.06%
FMC	B	0.03%	0.02%	0.02%
FOX	B	0.04%	0.01%	0.01%
FOXA	B	0.08%	0.02%	0.02%
FRT	C	0.01%	0.02%	0.01%
FSLR	C	0.03%	0.05%	0.03%
FTNT	B	0.04%	0.1%	0.04%
FTV	C	0.03%	0.06%	0.03%
GD	C	0.2%	0.14%	0.14%
GDDY	C	0.03%	0.05%	0.03%
GE	C	0.29%	0.42%	0.29%
GEHC	B	0.03%	0.08%	0.03%
GILD	B	0.34%	0.22%	0.22%
GIS	B	0.12%	0.09%	0.09%
GL	D	0.03%	0.02%	0.02%
GLW	B	0.1%	0.07%	0.07%
GM	C	0.5%	0.12%	0.12%
GNRC	D	0.02%	0.02%	0.02%
GOOG	D	1.16%	1.66%	1.16%
GOOGL	D	0.71%	1.99%	0.71%
GPC	D	0.06%	0.04%	0.04%
GPN	D	0.06%	0.06%	0.06%
GRMN	D	0.06%	0.06%	0.06%
GS	B	0.52%	0.33%	0.33%
GWW	B	0.05%	0.09%	0.05%
HAL	F	0.08%	0.06%	0.06%
HAS	B	0.03%	0.02%	0.02%
HBAN	B	0.11%	0.04%	0.04%
HCA	B	0.23%	0.16%	0.16%
HD	B	0.51%	0.8%	0.51%
HES	F	0.06%	0.08%	0.06%
HIG	B	0.13%	0.07%	0.07%
HII	F	0.03%	0.02%	0.02%
HLT	B	0.02%	0.12%	0.02%
HOLX	D	0.03%	0.04%	0.03%
HON	C	0.21%	0.28%	0.21%
HPE	C	0.22%	0.05%	0.05%
HPQ	C	0.27%	0.06%	0.06%
HRL	F	0.08%	0.02%	0.02%
HSIC	C	0.03%	0.02%	0.02%
HST	D	0.04%	0.03%	0.03%
HSY	D	0.06%	0.06%	0.06%
HUBB	B	0.03%	0.05%	0.03%
HUM	F	0.19%	0.08%	0.08%
HWM	B	0.04%	0.08%	0.04%
IBM	B	0.45%	0.42%	0.42%
ICE	C	0.11%	0.2%	0.11%
IDXX	D	0.02%	0.09%	0.02%
IEX	C	0.01%	0.03%	0.01%
IFF	A	0.06%	0.06%	0.06%
INCY	C	0.02%	0.02%	0.02%
INTC	D	0.3%	0.19%	0.19%
INTU	D	0.06%	0.38%	0.06%
INVH	D	0.05%	0.04%	0.04%
IP	C	0.15%	0.04%	0.04%
IPG	C	0.04%	0.03%	0.03%
IQV	D	0.06%	0.09%	0.06%
IR	B	0.02%	0.08%	0.02%
IRM	C	0.04%	0.07%	0.04%
ISRG	C	0.1%	0.36%	0.1%
IT	C	0.03%	0.08%	0.03%
ITW	B	0.09%	0.15%	0.09%
IVZ	B	0.07%	0.02%	0.02%
J	A	0.04%	0.04%	0.04%
JBHT	D	0.03%	0.03%	0.03%
JBL	C	0.05%	0.03%	0.03%
JCI	B	0.15%	0.1%	0.1%
JKHY	B	0.01%	0.03%	0.01%
JNJ	C	0.86%	0.85%	0.85%
JNPR	A	0.03%	0.03%	0.03%
JPM	D	1.38%	1.26%	1.26%
K	A	0.08%	0.05%	0.05%
KDP	B	0.13%	0.08%	0.08%
KEY	C	0.14%	0.03%	0.03%
KEYS	B	0.03%	0.06%	0.03%
KHC	C	0.25%	0.06%	0.06%
KIM	C	0.03%	0.03%	0.03%
KLAC	D	0.06%	0.21%	0.06%
KMB	C	0.11%	0.1%	0.1%
KMI	C	0.38%	0.09%	0.09%
KMX	D	0.05%	0.03%	0.03%
KO	B	0.43%	0.59%	0.43%
KR	B	0.33%	0.08%	0.08%
KVUE	B	0.22%	0.09%	0.09%
L	D	0.13%	0.03%	0.03%
LDOS	A	0.05%	0.04%	0.04%
LEN	B	0.14%	0.1%	0.1%
LHX	C	0.1%	0.09%	0.09%
LIN	B	0.2%	0.47%	0.2%
LKQ	F	0.03%	0.02%	0.02%
LLY	D	0.24%	1.53%	0.24%
LMT	A	0.36%	0.26%	0.26%
LNT	A	0.04%	0.03%	0.03%
LOW	B	0.23%	0.31%	0.23%
LRCX	D	0.08%	0.21%	0.08%
LULU	D	0.03%	0.07%	0.03%
LUV	C	0.15%	0.04%	0.04%
LVS	C	0.06%	0.03%	0.03%
LW	D	0.01%	0.02%	0.01%
LYB	D	0.22%	0.05%	0.05%
LYV	A	0.03%	0.03%	0.03%
MA	B	0.13%	0.86%	0.13%
MAA	C	0.04%	0.04%	0.04%
MAR	B	0.09%	0.12%	0.09%
MAS	B	0.03%	0.04%	0.03%
MCD	B	0.16%	0.45%	0.16%
MCHP	D	0.05%	0.09%	0.05%
MCK	F	0.34%	0.14%	0.14%
MCO	C	0.04%	0.16%	0.04%
MDLZ	C	0.22%	0.21%	0.21%
MDT	B	0.35%	0.25%	0.25%
MET	B	0.43%	0.1%	0.1%
META	B	1.77%	2.49%	1.77%
MGM	D	0.05%	0.02%	0.02%
MHK	B	0.07%	0.02%	0.02%
MKC	C	0.05%	0.04%	0.04%
MKTX	D	0.01%	0.02%	0.01%
MLM	D	0.03%	0.07%	0.03%
MMC	C	0.12%	0.24%	0.12%
MMM	B	0.29%	0.16%	0.16%
MNST	D	0.05%	0.08%	0.05%
MO	C	0.33%	0.18%	0.18%
MOH	D	0.05%	0.04%	0.04%
MOS	F	0.07%	0.02%	0.02%
MPC	F	0.52%	0.12%	0.12%
MPWR	B	0.01%	0.09%	0.01%
MRK	F	0.38%	0.64%	0.38%
MRNA	F	0.03%	0.05%	0.03%
MRO	D	0.08%	0.03%	0.03%
MS	B	0.5%	0.26%	0.26%
MSCI	C	0.01%	0.09%	0.01%
MSFT	C	1.53%	6.77%	1.53%
MSI	B	0.04%	0.15%	0.04%
MTB	C	0.15%	0.06%	0.06%
MTCH	C	0.02%	0.02%	0.02%
MTD	C	0.02%	0.06%	0.02%
MU	D	0.13%	0.2%	0.13%
NCLH	B	0.03%	0.02%	0.02%
NDAQ	C	0.07%	0.06%	0.06%
NDSN	C	0.02%	0.03%	0.02%
NEE	B	0.38%	0.37%	0.37%
NEM	C	0.18%	0.13%	0.13%
NFLX	B	0.17%	0.63%	0.17%
NI	B	0.06%	0.03%	0.03%
NKE	D	0.14%	0.21%	0.14%
NOC	B	0.16%	0.15%	0.15%
NOW	C	0.06%	0.39%	0.06%
NRG	B	0.05%	0.04%	0.04%
NSC	C	0.12%	0.12%	0.12%
NTAP	D	0.04%	0.05%	0.04%
NTRS	C	0.07%	0.04%	0.04%
NUE	D	0.12%	0.07%	0.07%
NVDA	C	0.3%	5.9%	0.3%
NVR	B	0.07%	0.06%	0.06%
NWS	D	0.01%	0.01%	0.01%
NWSA	D	0.03%	0.02%	0.02%
NXPI	D	0.07%	0.13%	0.07%
O	B	0.12%	0.11%	0.11%
ODFL	D	0.03%	0.07%	0.03%
OKE	C	0.12%	0.12%	0.12%
OMC	B	0.07%	0.04%	0.04%
ON	D	0.05%	0.06%	0.05%
ORCL	B	0.42%	0.56%	0.42%
ORLY	B	0.07%	0.14%	0.07%
OTIS	B	0.03%	0.08%	0.03%
OXY	F	0.18%	0.07%	0.07%
PANW	D	0.06%	0.23%	0.06%
PARA	D	0.04%	0.01%	0.01%
PAYC	D	0.01%	0.02%	0.01%
PAYX	C	0.06%	0.09%	0.06%
PCAR	D	0.11%	0.11%	0.11%
PCG	C	0.12%	0.09%	0.09%
PEG	B	0.14%	0.09%	0.09%
PEP	D	0.37%	0.51%	0.37%
PFE	D	0.86%	0.36%	0.36%
PFG	B	0.17%	0.04%	0.04%
PG	C	0.52%	0.87%	0.52%
PGR	C	0.19%	0.32%	0.19%
PH	B	0.09%	0.17%	0.09%
PHM	B	0.07%	0.06%	0.06%
PKG	B	0.04%	0.04%	0.04%
PLD	C	0.15%	0.25%	0.15%
PM	C	0.55%	0.4%	0.4%
PNC	C	0.38%	0.15%	0.15%
PNR	B	0.02%	0.03%	0.02%
PNW	C	0.05%	0.02%	0.02%
PODD	C	0.01%	0.03%	0.01%
POOL	C	0.01%	0.03%	0.01%
PPG	C	0.06%	0.06%	0.06%
PPL	A	0.09%	0.05%	0.05%
PRU	C	0.39%	0.09%	0.09%
PSA	C	0.08%	0.12%	0.08%
PSX	F	0.49%	0.12%	0.12%
PTC	C	0.02%	0.04%	0.02%
PWR	B	0.04%	0.08%	0.04%
PYPL	B	0.18%	0.16%	0.16%
QCOM	D	0.24%	0.4%	0.24%
QRVO	F	0.02%	0.02%	0.02%
RCL	B	0.07%	0.08%	0.07%
REG	C	0.04%	0.03%	0.03%
REGN	D	0.16%	0.25%	0.16%
RF	B	0.11%	0.04%	0.04%
RJF	C	0.05%	0.05%	0.05%
RL	B	0.03%	0.02%	0.02%
RMD	C	0.03%	0.07%	0.03%
ROK	D	0.04%	0.06%	0.04%
ROL	C	0.01%	0.03%	0.01%
ROP	C	0.05%	0.12%	0.05%
ROST	C	0.06%	0.11%	0.06%
RSG	D	0.09%	0.09%	0.09%
RTX	B	0.46%	0.33%	0.33%
SBAC	C	0.02%	0.05%	0.02%
SBUX	C	0.14%	0.23%	0.14%
SCHW	D	0.22%	0.2%	0.2%
SHW	B	0.06%	0.19%	0.06%
SJM	C	0.05%	0.03%	0.03%
SLB	F	0.14%	0.12%	0.12%
SMCI	F	0.01%	0.05%	0.01%
SNA	B	0.03%	0.03%	0.03%
SNPS	F	0.04%	0.16%	0.04%
SO	B	0.32%	0.21%	0.21%
SOLV	D	0.01%	0.02%	0.01%
SPG	B	0.06%	0.11%	0.06%
SPGI	C	0.13%	0.35%	0.13%
SRE	B	0.17%	0.11%	0.11%
STE	B	0.02%	0.05%	0.02%
STLD	C	0.07%	0.04%	0.04%
STT	B	0.14%	0.06%	0.06%
STX	B	0.04%	0.04%	0.04%
STZ	C	0.05%	0.09%	0.05%
SW	B	0.22%	0.05%	0.05%
SWK	B	0.06%	0.03%	0.03%
SWKS	F	0.05%	0.03%	0.03%
SYF	C	0.18%	0.04%	0.04%
SYK	C	0.09%	0.26%	0.09%
SYY	C	0.12%	0.08%	0.08%
T	B	1.37%	0.33%	0.33%
TAP	D	0.09%	0.02%	0.02%
TDG	B	0.03%	0.16%	0.03%
TDY	B	0.03%	0.04%	0.03%
TECH	C	0.01%	0.03%	0.01%
TEL	D	0.1%	0.09%	0.09%
TER	C	0.02%	0.04%	0.02%
TFC	D	0.5%	0.12%	0.12%
TFX	B	0.02%	0.02%	0.02%
TGT	C	0.23%	0.15%	0.15%
TJX	C	0.17%	0.28%	0.17%
TMO	B	0.18%	0.49%	0.18%
TMUS	B	0.4%	0.21%	0.21%
TPR	A	0.03%	0.02%	0.02%
TRGP	C	0.07%	0.07%	0.07%
TRMB	C	0.02%	0.03%	0.02%
TROW	C	0.07%	0.05%	0.05%
TRV	C	0.18%	0.12%	0.12%
TSCO	B	0.04%	0.06%	0.04%
TSLA	C	0.48%	1.33%	0.48%
TSN	D	0.15%	0.04%	0.04%
TT	B	0.08%	0.18%	0.08%
TTWO	D	0.02%	0.05%	0.02%
TXN	B	0.24%	0.39%	0.24%
TXT	D	0.04%	0.04%	0.04%
TYL	C	0.02%	0.05%	0.02%
UAL	B	0.15%	0.04%	0.04%
UBER	C	0.09%	0.32%	0.09%
UDR	C	0.03%	0.03%	0.03%
UHS	C	0.06%	0.03%	0.03%
ULTA	D	0.03%	0.04%	0.03%
UNH	C	1.16%	1.13%	1.13%
UNP	D	0.24%	0.32%	0.24%
UPS	D	0.36%	0.2%	0.2%
URI	B	0.07%	0.11%	0.07%
USB	C	0.37%	0.15%	0.15%
V	C	0.4%	0.96%	0.4%
VICI	C	0.1%	0.07%	0.07%
VLO	F	0.39%	0.09%	0.09%
VLTO	B	0.02%	0.05%	0.02%
VMC	C	0.03%	0.07%	0.03%
VRSK	D	0.01%	0.08%	0.01%
VRSN	C	0.02%	0.03%	0.02%
VRTX	D	0.11%	0.26%	0.11%
VST	B	0.08%	0.06%	0.06%
VTR	C	0.08%	0.05%	0.05%
VTRS	D	0.12%	0.03%	0.03%
VZ	A	1.66%	0.39%	0.39%
WAB	B	0.04%	0.06%	0.04%
WAT	B	0.02%	0.04%	0.02%
WBA	F	0.05%	0.01%	0.01%
WBD	D	0.16%	0.04%	0.04%
WDC	C	0.05%	0.04%	0.04%
WEC	B	0.1%	0.06%	0.06%
WELL	C	0.12%	0.16%	0.12%
WFC	D	1.01%	0.4%	0.4%
WM	D	0.09%	0.16%	0.09%
WMB	C	0.16%	0.12%	0.12%
WMT	B	1.74%	0.71%	0.71%
WRB	D	0.05%	0.04%	0.04%
WST	D	0.01%	0.05%	0.01%
WTW	B	0.06%	0.06%	0.06%
WY	C	0.07%	0.05%	0.05%
WYNN	C	0.02%	0.02%	0.02%
XEL	B	0.14%	0.07%	0.07%
XOM	D	2.01%	1.09%	1.09%
XYL	C	0.03%	0.07%	0.03%
YUM	B	0.03%	0.08%	0.03%
ZBH	F	0.05%	0.05%	0.05%
ZBRA	B	0.02%	0.04%	0.02%
ZTS	B	0.05%	0.19%	0.05%

VLU Overweight 930 Positions Relative to SPY

Symbol	Grade	Weight
RGA	C	0.13%
PFGC	B	0.11%
OVV	F	0.09%
UNM	B	0.09%
X	F	0.08%
CHK	C	0.08%
AFG	C	0.08%
FNF	B	0.08%
ALLY	F	0.08%
SNX	C	0.08%
SWN	C	0.07%
EQH	C	0.07%
USFD	C	0.07%
CMA	C	0.07%
LAD	B	0.07%
CHRD	F	0.07%
JXN	B	0.06%
R	C	0.06%
STWD	B	0.06%
ARW	B	0.06%
ZION	D	0.06%
LUMN	C	0.06%
DINO	F	0.06%
THC	C	0.06%
FHN	D	0.05%
MUR	F	0.05%
IBKR	B	0.05%
RS	D	0.05%
ORI	B	0.05%
COLB	B	0.05%
LNC	C	0.05%
JLL	B	0.05%
WHR	C	0.05%
TOL	A	0.05%
ARMK	B	0.05%
COOP	C	0.05%
WPC	C	0.05%
JEF	C	0.05%
RNR	B	0.05%
LEA	D	0.05%
VFC	B	0.05%
VNO	B	0.05%
DKS	D	0.04%
MUSA	D	0.04%
OGS	B	0.04%
CCK	B	0.04%
UTHR	B	0.04%
WU	C	0.04%
BKH	B	0.04%
VLY	D	0.04%
M	F	0.04%
TKO	A	0.04%
WCC	C	0.04%
OHI	C	0.04%
TMHC	B	0.04%
GAP	F	0.04%
BERY	B	0.04%
AR	C	0.04%
OZK	F	0.04%
AN	C	0.04%
FYBR	C	0.04%
VOYA	B	0.04%
ABG	D	0.04%
KRC	C	0.04%
WLK	C	0.04%
AL	C	0.04%
AVT	B	0.04%
CNX	B	0.04%
GLPI	C	0.04%
OGN	D	0.04%
UGI	B	0.04%
ALK	B	0.04%
CIVI	F	0.04%
GPI	B	0.04%
JHG	B	0.04%
OC	C	0.04%
EWBC	C	0.04%
CFR	C	0.03%
WSM	C	0.03%
HWC	D	0.03%
NOV	F	0.03%
FLR	D	0.03%
CLH	C	0.03%
CUZ	C	0.03%
GHC	B	0.03%
FNB	D	0.03%
ILMN	D	0.03%
CUBE	C	0.03%
TGNA	C	0.03%
CSL	B	0.03%
CNXC	F	0.03%
PENN	D	0.03%
CNK	C	0.03%
BKU	D	0.03%
MTG	B	0.03%
SKX	C	0.03%
EME	B	0.03%
CALM	B	0.03%
BRX	C	0.03%
HCC	D	0.03%
BURL	C	0.03%
PAG	D	0.03%
SON	D	0.03%
AMH	D	0.03%
NXST	D	0.03%
RDN	D	0.03%
MLI	B	0.03%
NWL	C	0.03%
HRB	C	0.03%
WTRG	D	0.03%
HOG	C	0.03%
SATS	C	0.03%
PB	D	0.03%
CATY	C	0.03%
LAMR	B	0.03%
NNN	B	0.03%
KD	F	0.03%
THO	C	0.03%
MDU	B	0.03%
NFG	B	0.03%
XPO	D	0.03%
HP	F	0.03%
RRC	D	0.03%
AMKR	F	0.03%
ASB	D	0.03%
APLE	C	0.03%
ABM	D	0.03%
PK	D	0.03%
DEI	B	0.03%
POST	B	0.03%
GPK	C	0.03%
MTZ	C	0.03%
OGE	B	0.03%
NOG	F	0.03%
ACM	B	0.03%
AGCO	D	0.03%
BXMT	C	0.03%
GNW	C	0.03%
SF	B	0.03%
ONB	D	0.03%
PBF	F	0.03%
BJ	D	0.03%
CASY	D	0.03%
CMC	D	0.03%
MAN	C	0.03%
AA	C	0.03%
KNX	C	0.03%
MPW	C	0.03%
WSO	C	0.03%
CACI	B	0.03%
SNV	D	0.03%
HIW	C	0.03%
SANM	D	0.03%
INGR	B	0.03%
CNO	C	0.03%
FAF	B	0.03%
DXC	D	0.03%
WBS	C	0.03%
KFY	C	0.02%
REZI	D	0.02%
NWBI	D	0.02%
MLKN	F	0.02%
AVA	B	0.02%
NJR	C	0.02%
RGLD	C	0.02%
COLM	C	0.02%
ASH	F	0.02%
DY	C	0.02%
STAG	D	0.02%
LPX	B	0.02%
VVV	D	0.02%
MGY	D	0.02%
AXTA	B	0.02%
FULT	D	0.02%
LEG	D	0.02%
SIGI	D	0.02%
ANDE	D	0.02%
SLM	C	0.02%
SLVM	C	0.02%
IIPR	B	0.02%
PDCO	F	0.02%
EXEL	C	0.02%
TTEK	C	0.02%
KAR	D	0.02%
FR	C	0.02%
PEB	D	0.02%
GEF	C	0.02%
MTN	D	0.02%
PPC	D	0.02%
ABCB	C	0.02%
MOG.A	B	0.02%
MIDD	C	0.02%
GBX	D	0.02%
CAR	D	0.02%
RUN	D	0.02%
LBRT	F	0.02%
CPRI	D	0.02%
MMS	B	0.02%
GNL	D	0.02%
RUSHA	C	0.02%
BYD	C	0.02%
TKR	C	0.02%
ELS	D	0.02%
KRG	C	0.02%
IDA	B	0.02%
BHE	C	0.02%
NATL	D	0.02%
GBCI	C	0.02%
NVT	C	0.02%
MSM	D	0.02%
AGO	D	0.02%
ASO	D	0.02%
BLD	C	0.02%
SKYW	C	0.02%
ST	D	0.02%
JBGS	C	0.02%
BCC	C	0.02%
CRC	C	0.02%
FLO	C	0.02%
POR	B	0.02%
WWD	C	0.02%
VSCO	C	0.02%
COTY	D	0.02%
RRX	C	0.02%
REXR	C	0.02%
CBT	B	0.02%
AUB	D	0.02%
GXO	D	0.02%
JBLU	C	0.02%
OI	D	0.02%
NWE	A	0.02%
PRI	B	0.02%
MATX	B	0.02%
UMBF	C	0.02%
SLG	C	0.02%
CROX	C	0.02%
VSTS	D	0.02%
CIEN	B	0.02%
MHO	B	0.02%
LII	C	0.02%
KSS	D	0.02%
ADNT	D	0.02%
BANC	C	0.02%
ATI	C	0.02%
VGR	C	0.02%
RNST	D	0.02%
BANR	C	0.02%
SR	B	0.02%
ALE	A	0.02%
PVH	D	0.02%
BC	C	0.02%
PNM	B	0.02%
FHB	D	0.02%
GME	D	0.02%
EVR	B	0.02%
SWX	C	0.02%
PRGO	F	0.02%
AM	B	0.02%
AVNT	B	0.02%
CBSH	D	0.02%
CW	B	0.02%
HOMB	D	0.02%
IBOC	D	0.02%
WFRD	F	0.02%
EHC	B	0.02%
TDS	B	0.02%
URBN	F	0.02%
IBTX	C	0.02%
RHI	D	0.02%
THG	C	0.02%
SAIC	C	0.02%
OLN	D	0.02%
G	C	0.02%
TCBI	C	0.02%
ENVA	C	0.02%
ERIE	B	0.02%
CRS	C	0.02%
RPM	B	0.02%
ARCH	D	0.02%
SNEX	C	0.02%
WAFD	D	0.02%
SEM	D	0.02%
OSK	F	0.02%
SLGN	B	0.02%
CG	C	0.02%
FFBC	D	0.02%
PFS	C	0.02%
AAP	F	0.02%
SIG	C	0.02%
KEX	C	0.02%
CWEN	A	0.02%
ADC	C	0.02%
COKE	C	0.02%
ESNT	B	0.02%
FL	F	0.02%
DTM	C	0.02%
JWN	C	0.02%
SBRA	C	0.02%
TPH	C	0.02%
H	B	0.02%
UBSI	D	0.02%
GT	F	0.02%
ALV	F	0.02%
JAZZ	D	0.02%
DAR	F	0.02%
CLF	F	0.02%
CADE	C	0.02%
CEIX	C	0.02%
WTFC	C	0.02%
PII	D	0.02%
PR	F	0.02%
NSIT	C	0.02%
LNW	F	0.02%
CWK	B	0.02%
BTU	C	0.02%
UFPI	C	0.02%
HBI	A	0.02%
AMG	C	0.02%
SCI	C	0.02%
MTH	C	0.02%
PRG	C	0.02%
SFNC	C	0.02%
SFM	B	0.02%
SSB	C	0.02%
MTDR	F	0.02%
SM	F	0.02%
CR	B	0.02%
PNFP	C	0.02%
TRN	C	0.02%
KBH	C	0.02%
COHR	C	0.02%
BHF	F	0.02%
ABR	B	0.02%
ROCK	D	0.01%
GES	F	0.01%
EZPW	D	0.01%
APOG	B	0.01%
MCRI	B	0.01%
HAE	D	0.01%
MSGS	B	0.01%
ALEX	C	0.01%
NEOG	D	0.01%
FBNC	C	0.01%
SHAK	C	0.01%
FOXF	F	0.01%
JBT	C	0.01%
SCL	D	0.01%
MYRG	F	0.01%
NBHC	D	0.01%
CVLT	B	0.01%
CUBI	F	0.01%
ESAB	C	0.01%
BRKR	D	0.01%
MSA	D	0.01%
SAFT	D	0.01%
MRCY	C	0.01%
MMI	C	0.01%
NGVT	D	0.01%
CHH	B	0.01%
AAT	C	0.01%
KREF	C	0.01%
CHCO	D	0.01%
MYGN	D	0.01%
CHE	C	0.01%
AWR	C	0.01%
CHEF	C	0.01%
VIR	F	0.01%
AZZ	C	0.01%
CAL	F	0.01%
UCTT	D	0.01%
GDOT	D	0.01%
BGS	D	0.01%
XHR	B	0.01%
AMWD	C	0.01%
ESE	B	0.01%
RDNT	B	0.01%
HCSG	D	0.01%
AIN	F	0.01%
TDC	D	0.01%
FORM	F	0.01%
FIZZ	D	0.01%
LGND	D	0.01%
GFF	C	0.01%
SMPL	D	0.01%
CORT	B	0.01%
RES	D	0.01%
HWKN	B	0.01%
PLAB	D	0.01%
EPC	F	0.01%
HQY	C	0.01%
HLX	D	0.01%
HAIN	C	0.01%
EFC	C	0.01%
NVRI	D	0.01%
SYNA	D	0.01%
ZD	D	0.01%
DNOW	F	0.01%
STRA	F	0.01%
DRH	C	0.01%
CWT	D	0.01%
RCM	C	0.01%
WRLD	D	0.01%
CPK	B	0.01%
FSS	D	0.01%
ENR	D	0.01%
KNF	C	0.01%
PCTY	D	0.01%
MODG	F	0.01%
YELP	D	0.01%
GTY	C	0.01%
HPP	F	0.01%
KALU	D	0.01%
AWI	B	0.01%
SKT	B	0.01%
CFFN	D	0.01%
EIG	C	0.01%
TMP	D	0.01%
RGEN	F	0.01%
SBCF	D	0.01%
SXC	F	0.01%
BKE	B	0.01%
NHC	D	0.01%
JJSF	B	0.01%
HXL	F	0.01%
INN	B	0.01%
KN	D	0.01%
CGNX	F	0.01%
CVI	F	0.01%
ASIX	B	0.01%
TPX	B	0.01%
BRBR	B	0.01%
CASH	D	0.01%
MMSI	C	0.01%
KWR	D	0.01%
AVNS	C	0.01%
EXP	B	0.01%
KLIC	D	0.01%
CARG	C	0.01%
MASI	C	0.01%
OLED	D	0.01%
NBR	F	0.01%
EGBN	D	0.01%
GTLS	F	0.01%
NOVT	D	0.01%
HI	F	0.01%
SCHL	D	0.01%
MGEE	C	0.01%
MORN	C	0.01%
MNRO	C	0.01%
OSIS	C	0.01%
SHO	C	0.01%
EXLS	B	0.01%
FELE	B	0.01%
SVC	F	0.01%
B	C	0.01%
MEDP	F	0.01%
AMED	D	0.01%
ONTO	C	0.01%
CPF	C	0.01%
VNT	F	0.01%
MC	C	0.01%
LANC	F	0.01%
FCPT	C	0.01%
TREX	F	0.01%
ALKS	D	0.01%
IOSP	F	0.01%
AVAV	C	0.01%
TBBK	C	0.01%
CVCO	B	0.01%
OII	D	0.01%
VC	F	0.01%
PJT	B	0.01%
MTSI	C	0.01%
ROIC	C	0.01%
WEN	C	0.01%
IPGP	D	0.01%
HALO	D	0.01%
DORM	C	0.01%
AXL	F	0.01%
PLUS	B	0.01%
STC	C	0.01%
OMCL	C	0.01%
LTC	C	0.01%
FTDR	B	0.01%
KELYA	D	0.01%
UE	C	0.01%
BCPC	C	0.01%
BRKL	C	0.01%
DLX	F	0.01%
BLMN	F	0.01%
CBRL	D	0.01%
WD	B	0.01%
AHCO	C	0.01%
IBP	C	0.01%
SPTN	C	0.01%
ARCB	D	0.01%
HMN	C	0.01%
AROC	D	0.01%
DOCS	B	0.01%
ENOV	F	0.01%
CWEN	A	0.01%
PUMP	F	0.01%
VSAT	F	0.01%
LXP	C	0.01%
BWXT	A	0.01%
FBK	C	0.01%
MATV	D	0.01%
HASI	C	0.01%
MTX	D	0.01%
NBIX	F	0.01%
ORA	B	0.01%
UNF	B	0.01%
FCF	D	0.01%
MD	C	0.01%
AMN	F	0.01%
CRI	D	0.01%
DIOD	F	0.01%
LGIH	D	0.01%
WGO	D	0.01%
VSTO	C	0.01%
OFG	C	0.01%
SSD	C	0.01%
SXT	B	0.01%
KMT	B	0.01%
AKR	B	0.01%
SFBS	C	0.01%
DCOM	C	0.01%
UNFI	B	0.01%
DT	C	0.01%
ICUI	C	0.01%
FND	C	0.01%
MKSI	F	0.01%
PINC	D	0.01%
ODP	F	0.01%
HGV	F	0.01%
SCVL	C	0.01%
CAKE	B	0.01%
ANF	D	0.01%
OTTR	F	0.01%
PHIN	C	0.01%
ITGR	C	0.01%
SHOO	B	0.01%
APAM	C	0.01%
BOOT	B	0.01%
CHX	F	0.01%
TTMI	D	0.01%
RXO	D	0.01%
EXPI	C	0.01%
RWT	C	0.01%
NPO	C	0.01%
SAH	D	0.01%
NSP	F	0.01%
CENTA	F	0.01%
CRK	C	0.01%
BDN	C	0.01%
IDCC	B	0.01%
DLB	D	0.01%
SAIA	D	0.01%
PIPR	B	0.01%
IRT	C	0.01%
FWRD	D	0.01%
WMS	D	0.01%
BOH	D	0.01%
SBSI	D	0.01%
LOPE	D	0.01%
WTS	C	0.01%
RLI	B	0.01%
LNTH	D	0.01%
GVA	B	0.01%
PECO	C	0.01%
PARR	F	0.01%
NEU	D	0.01%
PRK	D	0.01%
NBTB	D	0.01%
PBH	C	0.01%
BRC	B	0.01%
ENSG	D	0.01%
BHLB	C	0.01%
PCH	C	0.01%
XRX	D	0.01%
WH	B	0.01%
CNM	F	0.01%
CNXN	B	0.01%
SHC	C	0.01%
WSFS	D	0.01%
MAT	D	0.01%
KLG	D	0.01%
NYT	B	0.01%
TEX	F	0.01%
STBA	D	0.01%
LRN	B	0.01%
SCSC	D	0.01%
LPG	F	0.01%
WS	D	0.01%
ITRI	C	0.01%
WWW	A	0.01%
SABR	C	0.01%
LZB	C	0.01%
CTRE	C	0.01%
BGC	D	0.01%
EGP	C	0.01%
FFIN	C	0.01%
RBC	B	0.01%
RYN	C	0.01%
FDP	C	0.01%
FN	C	0.01%
VAL	F	0.01%
OPCH	C	0.01%
FHI	B	0.01%
CCS	C	0.01%
DAN	D	0.01%
KW	C	0.01%
PBI	C	0.01%
PSTG	F	0.01%
FUL	D	0.01%
GMS	C	0.01%
THS	C	0.01%
OUT	B	0.01%
XRAY	D	0.01%
OMI	D	0.01%
OLLI	C	0.01%
ECPG	D	0.01%
PATK	C	0.01%
LECO	D	0.01%
BDC	B	0.01%
NSA	C	0.01%
CCOI	C	0.01%
TTC	F	0.01%
RH	C	0.01%
TRMK	D	0.01%
LCII	C	0.01%
SMG	B	0.01%
CBU	D	0.01%
GGG	C	0.01%
WERN	C	0.01%
PSMT	B	0.01%
EPR	C	0.01%
ACIW	B	0.01%
AEO	D	0.01%
LSTR	D	0.01%
SBH	B	0.01%
DEA	D	0.01%
RC	F	0.01%
VAC	D	0.01%
NVST	D	0.01%
LITE	B	0.01%
GIII	D	0.01%
AMR	D	0.01%
FCN	C	0.01%
UA	C	0.01%
NWN	B	0.01%
HNI	C	0.01%
ACA	B	0.01%
SRCL	B	0.01%
AYI	B	0.01%
UCBI	B	0.01%
INVA	C	0.01%
GNTX	D	0.01%
PMT	C	0.01%
INDB	D	0.01%
ATGE	C	0.01%
GRBK	B	0.01%
HLI	C	0.01%
VSH	F	0.01%
ARI	F	0.01%
AIT	B	0.01%
EAT	C	0.01%
UAA	C	0.01%
ASGN	D	0.01%
VMI	C	0.01%
CHDN	D	0.01%
AX	D	0.01%
FBP	C	0.01%
LFUS	C	0.01%
DCI	C	0.01%
EPRT	B	0.01%
NAVI	D	0.01%
UVV	D	0.01%
CXW	F	0.01%
ACHC	D	0.01%
BCO	B	0.01%
GMED	D	0.01%
ATR	B	0.01%
DBX	C	0.01%
BANF	C	0.01%
PTEN	F	0.01%
VBTX	C	0.01%
FIX	B	0.01%
PLXS	B	0.01%
WEX	C	0.01%
KTB	B	0.01%
WOR	F	0.01%
CABO	F	0.01%
PPBI	D	0.01%
MCY	C	0.01%
CVBF	D	0.01%
KMPR	D	0.01%
FLS	C	0.01%
CC	D	0.01%
ENS	C	0.01%
NMIH	C	0.01%
EEFT	F	0.01%
KBR	D	0.01%
CRUS	D	0.01%
TNL	C	0.01%
TXRH	B	0.01%
SEE	C	0.01%
TALO	F	0.01%
HUBG	C	0.01%
HTH	D	0.01%
GATX	D	0.01%
MAC	B	0.01%
SEIC	B	0.01%
HOPE	D	0.01%
SPNT	D	0.01%
GEO	F	0.01%
ITT	B	0.01%
VICR	C	0.0%
NPK	D	0.0%
DDD	D	0.0%
XPEL	D	0.0%
CHUY	C	0.0%
NARI	F	0.0%
WOLF	F	0.0%
LESL	F	0.0%
AGYS	D	0.0%
VREX	F	0.0%
VCEL	F	0.0%
GOGO	F	0.0%
RILY	F	0.0%
MSEX	C	0.0%
PCRX	F	0.0%
PGNY	F	0.0%
EMBC	D	0.0%
CLB	D	0.0%
TTGT	F	0.0%
STAA	D	0.0%
SNCY	D	0.0%
CHCT	F	0.0%
CERT	F	0.0%
COHU	F	0.0%
TGI	F	0.0%
ELF	F	0.0%
ARWR	F	0.0%
RGNX	F	0.0%
CELH	F	0.0%
HCI	C	0.0%
CRSR	D	0.0%
LQDT	C	0.0%
CEVA	C	0.0%
CMP	D	0.0%
SITM	B	0.0%
ICHR	D	0.0%
AAON	B	0.0%
BMI	B	0.0%
NABL	F	0.0%
SSTK	F	0.0%
BJRI	D	0.0%
NUS	F	0.0%
TNDM	D	0.0%
JBSS	F	0.0%
NXRT	D	0.0%
DGII	D	0.0%
HVT	F	0.0%
GKOS	C	0.0%
MXL	D	0.0%
MYE	F	0.0%
DV	F	0.0%
TRUP	D	0.0%
ASTE	F	0.0%
EPAC	B	0.0%
CTS	D	0.0%
PRLB	F	0.0%
CARS	F	0.0%
PEN	D	0.0%
WSR	D	0.0%
IIIN	F	0.0%
CYTK	F	0.0%
IRWD	F	0.0%
VVI	C	0.0%
AHH	D	0.0%
SXI	C	0.0%
JACK	F	0.0%
CPRX	C	0.0%
SLAB	D	0.0%
SHEN	F	0.0%
PRVA	F	0.0%
CENT	F	0.0%
SEDG	F	0.0%
XNCR	D	0.0%
USNA	F	0.0%
CCRN	F	0.0%
GPRE	F	0.0%
HSII	C	0.0%
PZZA	D	0.0%
RGR	F	0.0%
TNC	D	0.0%
COLL	C	0.0%
VECO	F	0.0%
SONO	F	0.0%
LNN	C	0.0%
POWI	F	0.0%
YETI	D	0.0%
MTUS	F	0.0%
THRY	F	0.0%
THRM	F	0.0%
HRMY	B	0.0%
KNSL	D	0.0%
KOP	F	0.0%
WING	C	0.0%
ALG	D	0.0%
EXTR	C	0.0%
SGH	D	0.0%
AMCX	F	0.0%
SPSC	D	0.0%
WDFC	C	0.0%
QLYS	D	0.0%
MCW	F	0.0%
HTLD	F	0.0%
IRDM	C	0.0%
ALRM	F	0.0%
GDEN	D	0.0%
VIAV	C	0.0%
AMSF	C	0.0%
CSGS	C	0.0%
BSIG	C	0.0%
MATW	F	0.0%
RMBS	F	0.0%
SJW	F	0.0%
WABC	D	0.0%
MERC	D	0.0%
WNC	F	0.0%
ZEUS	F	0.0%
EYE	F	0.0%
USPH	F	0.0%
LIVN	D	0.0%
CVGW	C	0.0%
AMPH	D	0.0%
BLKB	C	0.0%
MOV	F	0.0%
DXPE	C	0.0%
CNMD	D	0.0%
RAMP	F	0.0%
DBI	F	0.0%
NX	F	0.0%
TILE	C	0.0%
REX	D	0.0%
NVEE	F	0.0%
DFIN	D	0.0%
MGPI	F	0.0%
RCUS	D	0.0%
CENX	C	0.0%
IART	F	0.0%
PRGS	A	0.0%
SMP	D	0.0%
PLMR	C	0.0%
OXM	F	0.0%
LSCC	D	0.0%
PRFT	B	0.0%
DVAX	D	0.0%
HAYN	D	0.0%
DIN	D	0.0%
UFPT	D	0.0%
PLAY	D	0.0%
CACC	F	0.0%
HAYW	C	0.0%
UHT	C	0.0%
SAM	D	0.0%
FLGT	F	0.0%
EVTC	D	0.0%
MRTN	D	0.0%
PLNT	C	0.0%
CNSL	A	0.0%
EXPO	B	0.0%
CRVL	B	0.0%
LKFN	D	0.0%
MANH	B	0.0%
JOE	D	0.0%
CALX	C	0.0%
NTCT	C	0.0%
AOSL	D	0.0%
BOX	C	0.0%
ROG	D	0.0%
ENV	C	0.0%
PRA	C	0.0%
AMBC	F	0.0%
HTZ	F	0.0%
POWL	B	0.0%
CLW	F	0.0%
AZTA	F	0.0%
ZI	D	0.0%
HLIT	C	0.0%
AIR	D	0.0%
SUPN	D	0.0%
MTRN	D	0.0%
PRAA	F	0.0%
ETH	D	0.0%
PAHC	C	0.0%
HFWA	D	0.0%
ASTH	B	0.0%
MP	C	0.0%
VTOL	D	0.0%
TRIP	F	0.0%
HELE	D	0.0%
ACLS	F	0.0%
NEO	F	0.0%
IPAR	D	0.0%
ALGT	D	0.0%
SMTC	C	0.0%
TR	C	0.0%
ALGM	D	0.0%
HAFC	D	0.0%
FTRE	F	0.0%
UTL	C	0.0%
PFBC	D	0.0%
TWI	D	0.0%
HZO	C	0.0%
PRDO	D	0.0%
UNIT	C	0.0%
TRST	D	0.0%
QNST	C	0.0%
VRTS	F	0.0%
UFCS	D	0.0%
GO	F	0.0%
ADUS	C	0.0%
CSR	D	0.0%
VRRM	D	0.0%
BFS	B	0.0%
FIVE	D	0.0%
AEIS	D	0.0%

VLU Underweight 3 Positions Relative to SPY

Symbol	Grade	Weight
KKR	B	-0.18%
GEV	B	-0.14%
CRWD	D	-0.13%