VLUE vs. NULC ETF Comparison

Comparison of iShares MSCI USA Value Factor (VLUE) to Nuveen ESG Large-Cap ETF (NULC)

VLUE

iShares MSCI USA Value Factor

VLUE Description

The investment seeks to track the performance of MSCI USA Value Weighted Index that measures the performance of U.S. large- and mid-capitalization stocks with value characteristics and relatively lower valuations, before fees and expenses. The fund generally invests at least 90% of its assets in the securities of the underlying index or in depositary receipts representing securities in its underlying index. The MSCI USA Value Weighted Index (the "underlying index") is based on a traditional market capitalization-weighted parent index, the MSCI USA Index, which includes U.S. large- and mid- capitalization stocks.

Grade (RS Rating)

Last Trade

$114.13

Average Daily Volume

324,164

Number of Holdings ^*

148

* may have additional holdings in another (foreign) market

NULC

Nuveen ESG Large-Cap ETF

NULC Description

The investment seeks to track the investment results, before fees and expenses, of the ICE BofAML Enhanced Yield 1-5 Year US Broad Bond Index (the "index"). Under normal market conditions, the fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in component securities of the index. The index is designed to broadly capture the 1-5 year U.S. investment grade fixed income market, as represented by a modified version of the ICE BofAML 1-5 Year US Broad Market Index.

Grade (RS Rating)

Last Trade

$48.43

Average Daily Volume

1,139

Number of Holdings ^*

121

* may have additional holdings in another (foreign) market

Performance

Period	VLUE	NULC
30 Days	4.45%	2.83%
60 Days	5.68%	5.29%
90 Days	7.63%	7.13%
12 Months	25.66%	30.46%

29 Overlapping Holdings

Symbol	Grade	Weight in VLUE	Weight in NULC	Overlap
ADM	D	0.65%	0.48%	0.48%
AKAM	D	0.14%	0.07%	0.07%
AMAT	F	2.37%	0.99%	0.99%
BG	F	0.2%	0.01%	0.01%
C	A	1.78%	0.94%	0.94%
CI	F	1.37%	0.08%	0.08%
DINO	D	0.16%	0.13%	0.13%
FBIN	D	0.11%	0.02%	0.02%
FDX	B	1.18%	0.22%	0.22%
FSLR	F	0.38%	0.35%	0.35%
GILD	C	1.29%	0.72%	0.72%
GS	A	1.43%	0.23%	0.23%
HPE	B	1.4%	0.54%	0.54%
HPQ	B	1.19%	0.69%	0.69%
IBM	C	3.86%	1.62%	1.62%
INTC	D	3.65%	1.05%	1.05%
JNPR	F	0.33%	0.24%	0.24%
KR	B	0.75%	0.44%	0.44%
LYB	F	0.22%	0.41%	0.22%
MOS	F	0.17%	0.16%	0.16%
NTAP	C	0.52%	0.47%	0.47%
NXPI	D	1.12%	0.09%	0.09%
SOLV	C	0.14%	0.2%	0.14%
STLD	B	0.27%	0.41%	0.27%
T	A	6.04%	0.85%	0.85%
TFC	A	0.54%	0.37%	0.37%
URI	B	0.77%	0.49%	0.49%
USB	A	0.48%	0.06%	0.06%
VZ	C	2.91%	0.21%	0.21%

VLUE Overweight 119 Positions Relative to NULC

Symbol	Grade	Weight
CSCO	B	6.43%
GM	B	3.6%
BAC	A	2.25%
PFE	D	2.07%
WFC	A	1.92%
RTX	C	1.77%
F	C	1.68%
BMY	B	1.55%
LEN	D	1.49%
CVS	D	1.46%
MO	A	1.45%
DHI	D	1.4%
SPG	B	1.26%
GLW	B	1.1%
CTSH	B	1.1%
TEL	B	1.02%
ELV	F	0.97%
PHM	D	0.94%
DELL	C	0.84%
VLO	C	0.78%
PCAR	B	0.76%
KHC	F	0.74%
WBD	C	0.7%
ON	D	0.67%
COF	B	0.66%
PCG	A	0.63%
JCI	C	0.61%
FANG	D	0.6%
CMI	A	0.6%
CNC	D	0.57%
WY	D	0.55%
LHX	C	0.53%
AIG	B	0.5%
EXPE	B	0.48%
D	C	0.47%
ZM	B	0.47%
BK	A	0.47%
MET	A	0.46%
SWKS	F	0.46%
VST	B	0.45%
VTRS	A	0.45%
PRU	A	0.45%
NUE	C	0.45%
MRO	B	0.44%
TSN	B	0.44%
GEN	B	0.42%
BBY	D	0.38%
TAP	C	0.38%
FFIV	B	0.37%
BLDR	D	0.36%
OC	A	0.36%
CTRA	B	0.35%
TWLO	A	0.34%
FOXA	B	0.33%
OVV	B	0.33%
WAB	B	0.32%
PPL	B	0.32%
JBL	B	0.31%
MTB	A	0.31%
EQT	B	0.28%
PARA	C	0.27%
EVRG	A	0.27%
CFG	B	0.26%
STT	A	0.26%
SSNC	B	0.25%
DAL	C	0.25%
LKQ	D	0.24%
SYF	B	0.24%
LH	C	0.24%
TXT	D	0.24%
UTHR	C	0.23%
ATO	A	0.23%
AZPN	A	0.23%
SNA	A	0.23%
DOW	F	0.23%
CAG	D	0.23%
HST	C	0.23%
WBA	F	0.22%
SJM	D	0.22%
ES	D	0.22%
HIG	B	0.22%
FITB	A	0.21%
GPN	B	0.21%
EXE	B	0.2%
RF	A	0.2%
LDOS	C	0.19%
IP	B	0.19%
MAA	B	0.19%
RPRX	D	0.19%
DGX	A	0.19%
KNX	B	0.19%
FOX	A	0.18%
UHS	D	0.18%
QRVO	F	0.18%
EG	C	0.17%
CNH	C	0.17%
HBAN	A	0.17%
CF	B	0.16%
APA	D	0.15%
L	A	0.13%
APTV	D	0.13%
CPT	B	0.13%
SW	A	0.13%
KEY	B	0.13%
FCNCA	A	0.12%
EQH	B	0.12%
ACI	C	0.12%
LUV	C	0.12%
UHAL	D	0.11%
NLY	C	0.11%
ALLY	C	0.1%
SWK	D	0.1%
EMN	D	0.1%
FNF	B	0.09%
HII	D	0.09%
DVA	B	0.08%
BEN	C	0.06%
WLK	D	0.05%
BIO	D	0.05%

VLUE Underweight 92 Positions Relative to NULC

Symbol	Grade	Weight
NVDA	C	-8.29%
MSFT	F	-6.83%
GOOGL	C	-3.13%
LLY	F	-2.26%
V	A	-2.2%
MA	C	-2.14%
GOOG	C	-1.92%
TSLA	B	-1.88%
ETN	A	-1.72%
FI	A	-1.71%
CRM	B	-1.6%
PGR	A	-1.57%
KO	D	-1.55%
MS	A	-1.53%
SPGI	C	-1.48%
MCK	B	-1.46%
DIS	B	-1.45%
PG	A	-1.41%
MMC	B	-1.38%
DHR	F	-1.33%
MELI	D	-1.31%
PNC	B	-1.3%
TJX	A	-1.27%
HCA	F	-1.21%
ECL	D	-1.21%
OKE	A	-1.2%
MCD	D	-1.2%
CARR	D	-1.16%
UPS	C	-1.04%
TGT	F	-1.02%
AMGN	D	-0.98%
CMG	B	-0.97%
ADP	B	-0.97%
AMT	D	-0.96%
MRVL	B	-0.95%
LNG	B	-0.93%
SNPS	B	-0.9%
BKR	B	-0.83%
AXON	A	-0.81%
LOW	D	-0.79%
AMD	F	-0.76%
PEP	F	-0.75%
CMCSA	B	-0.75%
EXC	C	-0.73%
EW	C	-0.72%
VEEV	C	-0.69%
TXN	C	-0.65%
ED	D	-0.64%
MMM	D	-0.57%
CDNS	B	-0.57%
ZTS	D	-0.55%
KEYS	A	-0.53%
TEAM	A	-0.51%
TRV	B	-0.48%
ADBE	C	-0.47%
EBAY	D	-0.45%
WST	C	-0.45%
IRM	D	-0.44%
BKNG	A	-0.43%
FTV	C	-0.42%
AWK	D	-0.41%
WDC	D	-0.4%
CBOE	B	-0.4%
EQIX	A	-0.4%
STX	D	-0.38%
TRU	D	-0.38%
HOLX	D	-0.36%
EA	A	-0.35%
J	F	-0.35%
TRMB	B	-0.34%
BALL	D	-0.33%
HOOD	B	-0.33%
VRTX	F	-0.32%
DECK	A	-0.31%
MCO	B	-0.3%
HD	A	-0.2%
A	D	-0.19%
NEM	D	-0.18%
PANW	C	-0.18%
EME	C	-0.18%
MKTX	D	-0.17%
LPLA	A	-0.13%
CAH	B	-0.13%
ACGL	D	-0.12%
WELL	A	-0.07%
IT	C	-0.07%
WTW	B	-0.05%
IDXX	F	-0.05%
AZO	C	-0.04%
UNP	C	-0.04%
DXCM	D	-0.03%
DOV	A	-0.01%