VLUE vs. PAPI ETF Comparison

Comparison of iShares MSCI USA Value Factor (VLUE) to Parametric Equity Premium Income ETF (PAPI)

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

$110.97

Average Daily Volume

341,064

Number of Holdings ^*

148

* may have additional holdings in another (foreign) market

PAPI

Parametric Equity Premium Income ETF

PAPI Description

The fund is an actively managed exchange-traded fund. Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. Equity securities in which the fund may invest include common stocks.

Grade (RS Rating)

Last Trade

$27.55

Average Daily Volume

31,366

Number of Holdings ^*

189

* may have additional holdings in another (foreign) market

Performance

Period	VLUE	PAPI
30 Days	-0.15%	-0.12%
60 Days	4.02%	2.07%
90 Days	7.16%	3.73%
12 Months	23.23%	17.66%

49 Overlapping Holdings

Symbol	Grade	Weight in VLUE	Weight in PAPI	Overlap
ADM	D	0.62%	0.46%	0.46%
ATO	A	0.22%	0.54%	0.22%
BBY	C	0.36%	0.47%	0.36%
BG	D	0.19%	0.48%	0.19%
CAG	F	0.25%	0.49%	0.25%
CI	D	1.34%	0.5%	0.5%
CMI	A	0.58%	0.56%	0.56%
CSCO	B	6.4%	0.55%	0.55%
CTRA	A	0.33%	0.56%	0.33%
CTSH	B	1.13%	0.55%	0.55%
D	C	0.46%	0.5%	0.46%
DGX	A	0.19%	0.57%	0.19%
DINO	D	0.16%	0.51%	0.16%
DOW	F	0.24%	0.45%	0.24%
ELV	F	1.01%	0.44%	0.44%
EMN	C	0.1%	0.49%	0.1%
EVRG	A	0.26%	0.55%	0.26%
FNF	C	0.09%	0.51%	0.09%
FOX	A	0.17%	0.59%	0.17%
FOXA	A	0.32%	0.59%	0.32%
GILD	B	1.39%	0.56%	0.56%
GLW	B	1.13%	0.55%	0.55%
HIG	C	0.22%	0.51%	0.22%
HII	F	0.1%	0.41%	0.1%
HPE	B	1.44%	0.55%	0.55%
HPQ	B	1.17%	0.53%	0.53%
IBM	D	3.97%	0.47%	0.47%
IP	A	0.18%	0.63%	0.18%
JCI	A	0.6%	0.59%	0.59%
KHC	F	0.77%	0.47%	0.47%
LEN	D	1.5%	0.46%	0.46%
LH	B	0.25%	0.59%	0.25%
LHX	B	0.55%	0.55%	0.55%
LKQ	D	0.23%	0.51%	0.23%
LYB	F	0.22%	0.48%	0.22%
MO	A	1.38%	0.57%	0.57%
MOS	D	0.18%	0.52%	0.18%
PFE	F	2.2%	0.46%	0.46%
PPL	A	0.31%	0.54%	0.31%
PRU	A	0.43%	0.52%	0.43%
RF	A	0.2%	0.56%	0.2%
RPRX	F	0.19%	0.48%	0.19%
RTX	D	1.82%	0.51%	0.51%
SNA	A	0.23%	0.64%	0.23%
SWKS	F	0.48%	0.47%	0.47%
T	A	5.87%	0.54%	0.54%
TAP	A	0.36%	0.58%	0.36%
VLO	C	0.75%	0.53%	0.53%
VZ	C	2.79%	0.48%	0.48%

VLUE Overweight 99 Positions Relative to PAPI

Symbol	Grade	Weight
INTC	C	3.87%
GM	A	3.46%
AMAT	F	2.66%
BAC	A	2.14%
WFC	A	1.78%
C	A	1.75%
F	C	1.65%
CVS	F	1.51%
BMY	B	1.47%
DHI	D	1.44%
GS	A	1.4%
SPG	A	1.23%
NXPI	F	1.19%
FDX	A	1.13%
TEL	C	1.05%
PHM	D	0.95%
DELL	C	0.85%
URI	B	0.8%
KR	B	0.77%
PCAR	B	0.76%
ON	F	0.72%
WBD	B	0.69%
COF	A	0.65%
PCG	A	0.6%
FANG	D	0.6%
CNC	F	0.58%
WY	D	0.56%
NTAP	D	0.54%
TFC	A	0.52%
AIG	B	0.49%
NUE	D	0.48%
ZM	B	0.47%
EXPE	A	0.47%
USB	B	0.47%
BK	A	0.46%
VTRS	A	0.45%
MET	A	0.44%
VST	A	0.44%
MRO	A	0.43%
GEN	B	0.41%
TSN	A	0.4%
FSLR	F	0.38%
FFIV	B	0.37%
BLDR	D	0.36%
OC	A	0.35%
JNPR	D	0.35%
WAB	B	0.33%
TWLO	A	0.32%
JBL	C	0.32%
OVV	C	0.32%
MTB	A	0.3%
STLD	B	0.29%
EQT	A	0.27%
PARA	C	0.27%
STT	A	0.26%
SSNC	D	0.25%
TXT	D	0.25%
UTHR	B	0.25%
CFG	A	0.25%
HST	D	0.24%
LDOS	C	0.23%
WBA	F	0.23%
SYF	A	0.23%
SJM	F	0.23%
DAL	A	0.23%
ES	C	0.22%
AZPN	A	0.22%
EXE	A	0.2%
GPN	B	0.2%
FITB	A	0.2%
KNX	B	0.2%
MAA	A	0.19%
QRVO	F	0.19%
UHS	D	0.18%
CNH	D	0.17%
HBAN	A	0.17%
EG	D	0.16%
APA	F	0.15%
SOLV	C	0.15%
CF	A	0.15%
APTV	F	0.14%
AKAM	F	0.14%
CPT	D	0.13%
KEY	A	0.13%
SW	A	0.13%
EQH	B	0.12%
LUV	A	0.12%
FBIN	D	0.12%
ACI	C	0.12%
UHAL	D	0.12%
L	A	0.12%
SWK	F	0.11%
FCNCA	A	0.11%
NLY	C	0.11%
ALLY	C	0.1%
DVA	C	0.08%
BEN	C	0.06%
BIO	C	0.06%
WLK	F	0.05%

VLUE Underweight 140 Positions Relative to PAPI

Symbol	Grade	Weight
GRMN	B	-0.66%
BKR	A	-0.63%
IDCC	A	-0.63%
DTM	A	-0.61%
EMR	A	-0.61%
PINC	B	-0.61%
IDA	A	-0.6%
RHI	B	-0.59%
PB	A	-0.59%
UNM	A	-0.59%
CFR	A	-0.59%
EA	A	-0.59%
OKE	A	-0.59%
CINF	A	-0.58%
RS	B	-0.58%
CAH	B	-0.58%
JHG	A	-0.58%
WMB	A	-0.58%
INGR	B	-0.58%
TXRH	A	-0.57%
UNH	B	-0.57%
SRE	A	-0.57%
WSO	A	-0.57%
PKG	B	-0.57%
MSM	C	-0.57%
KMI	A	-0.57%
OGE	A	-0.56%
TROW	A	-0.56%
ADP	B	-0.56%
MTN	C	-0.56%
TXN	C	-0.56%
TRV	A	-0.56%
AFG	A	-0.56%
SYK	A	-0.56%
XEL	A	-0.56%
FAST	B	-0.56%
AEE	A	-0.55%
ATR	B	-0.55%
PAYX	B	-0.55%
HP	C	-0.55%
CMCSA	B	-0.55%
CVX	A	-0.55%
EOG	A	-0.55%
COST	B	-0.55%
COR	B	-0.55%
DCI	B	-0.55%
COP	C	-0.55%
WHR	A	-0.55%
GNTX	C	-0.54%
PAG	A	-0.54%
TJX	A	-0.54%
GGG	A	-0.54%
GD	D	-0.54%
BMI	B	-0.54%
DRI	B	-0.54%
WMT	A	-0.54%
PM	A	-0.54%
OXM	F	-0.53%
CHRD	F	-0.53%
POWI	D	-0.53%
COLM	B	-0.53%
AM	A	-0.53%
ROP	C	-0.53%
CHD	A	-0.53%
MSFT	D	-0.53%
DOX	D	-0.53%
OGS	A	-0.53%
ORI	A	-0.53%
MDT	D	-0.52%
OMC	C	-0.52%
NFG	A	-0.52%
CALM	A	-0.52%
ABT	B	-0.52%
WEC	A	-0.52%
NYT	D	-0.52%
DLB	D	-0.52%
CME	A	-0.52%
XOM	B	-0.52%
PEG	C	-0.51%
LNT	A	-0.51%
PG	C	-0.51%
BDX	F	-0.51%
DD	D	-0.51%
PSX	C	-0.51%
ADI	D	-0.51%
ACN	C	-0.51%
POR	D	-0.51%
CTVA	D	-0.51%
HRL	D	-0.51%
AVT	C	-0.51%
EXPD	D	-0.51%
SNX	D	-0.51%
DVN	F	-0.5%
PEP	F	-0.5%
CCOI	B	-0.5%
FE	C	-0.5%
AFL	C	-0.5%
SO	C	-0.5%
APD	A	-0.5%
QCOM	F	-0.5%
JKHY	D	-0.5%
MTG	C	-0.5%
PFG	C	-0.5%
UPS	C	-0.5%
RGLD	C	-0.5%
JNJ	D	-0.49%
LEA	F	-0.49%
FLO	D	-0.49%
CHE	D	-0.49%
DUK	C	-0.49%
SON	D	-0.49%
LIN	D	-0.49%
KMB	C	-0.48%
KDP	D	-0.48%
AOS	F	-0.48%
ED	D	-0.48%
IPG	F	-0.48%
PPG	F	-0.48%
AEP	C	-0.48%
WEN	C	-0.48%
SHOO	D	-0.48%
ESNT	D	-0.47%
AMCR	C	-0.47%
HAS	D	-0.47%
FMC	F	-0.47%
MRK	F	-0.47%
DHR	D	-0.47%
WU	F	-0.47%
ABBV	F	-0.47%
ASH	F	-0.46%
KO	D	-0.46%
MAN	F	-0.45%
INSW	F	-0.45%
GPC	D	-0.45%
HUN	F	-0.44%
PII	F	-0.42%
CVI	D	-0.41%
CRI	D	-0.4%
NEM	F	-0.39%
SCCO	F	-0.0%