VLUE vs. PHEQ ETF Comparison

Comparison of iShares MSCI USA Value Factor (VLUE) to Parametric Hedged Equity ETF (PHEQ)

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

PHEQ

Parametric Hedged Equity ETF

PHEQ Description

The fund seeks to provide capital appreciation by investing its net assets in equity securities of certain U.S. large capitalization companies that are constituents of the Solactive GBS US 500 at the time of purchase.

Grade (RS Rating)

Last Trade

$29.49

Average Daily Volume

19,326

Number of Holdings ^*

203

* may have additional holdings in another (foreign) market

Performance

Period	VLUE	PHEQ
30 Days	4.45%	1.99%
60 Days	5.68%	3.02%
90 Days	7.63%	3.86%
12 Months	25.66%	16.61%

35 Overlapping Holdings

Symbol	Grade	Weight in VLUE	Weight in PHEQ	Overlap
AKAM	D	0.14%	0.16%	0.14%
APTV	D	0.13%	0.14%	0.13%
BAC	A	2.25%	0.98%	0.98%
BLDR	D	0.36%	0.08%	0.08%
BMY	B	1.55%	0.48%	0.48%
CAG	D	0.23%	0.17%	0.17%
CFG	B	0.26%	0.26%	0.26%
CSCO	B	6.43%	0.79%	0.79%
DAL	C	0.25%	0.39%	0.25%
DELL	C	0.84%	0.14%	0.14%
FANG	D	0.6%	0.24%	0.24%
FCNCA	A	0.12%	0.13%	0.12%
GLW	B	1.1%	0.25%	0.25%
HBAN	A	0.17%	0.31%	0.17%
HIG	B	0.22%	0.33%	0.22%
IBM	C	3.86%	0.56%	0.56%
L	A	0.13%	0.24%	0.13%
LH	C	0.24%	0.31%	0.24%
LYB	F	0.22%	0.22%	0.22%
MAA	B	0.19%	0.27%	0.19%
MRO	B	0.44%	0.24%	0.24%
ON	D	0.67%	0.14%	0.14%
PHM	D	0.94%	0.3%	0.3%
PPL	B	0.32%	0.34%	0.32%
PRU	A	0.45%	0.37%	0.37%
RPRX	D	0.19%	0.04%	0.04%
SSNC	B	0.25%	0.21%	0.21%
STLD	B	0.27%	0.11%	0.11%
SYF	B	0.24%	0.27%	0.24%
T	A	6.04%	0.68%	0.68%
URI	B	0.77%	0.24%	0.24%
WBD	C	0.7%	0.18%	0.18%
WFC	A	1.92%	0.67%	0.67%
WLK	D	0.05%	0.04%	0.04%
ZM	B	0.47%	0.18%	0.18%

VLUE Overweight 113 Positions Relative to PHEQ

Symbol	Grade	Weight
INTC	D	3.65%
GM	B	3.6%
VZ	C	2.91%
AMAT	F	2.37%
PFE	D	2.07%
C	A	1.78%
RTX	C	1.77%
F	C	1.68%
LEN	D	1.49%
CVS	D	1.46%
MO	A	1.45%
GS	A	1.43%
DHI	D	1.4%
HPE	B	1.4%
CI	F	1.37%
GILD	C	1.29%
SPG	B	1.26%
HPQ	B	1.19%
FDX	B	1.18%
NXPI	D	1.12%
CTSH	B	1.1%
TEL	B	1.02%
ELV	F	0.97%
VLO	C	0.78%
PCAR	B	0.76%
KR	B	0.75%
KHC	F	0.74%
COF	B	0.66%
ADM	D	0.65%
PCG	A	0.63%
JCI	C	0.61%
CMI	A	0.6%
CNC	D	0.57%
WY	D	0.55%
TFC	A	0.54%
LHX	C	0.53%
NTAP	C	0.52%
AIG	B	0.5%
EXPE	B	0.48%
USB	A	0.48%
D	C	0.47%
BK	A	0.47%
MET	A	0.46%
SWKS	F	0.46%
VST	B	0.45%
VTRS	A	0.45%
NUE	C	0.45%
TSN	B	0.44%
GEN	B	0.42%
FSLR	F	0.38%
BBY	D	0.38%
TAP	C	0.38%
FFIV	B	0.37%
OC	A	0.36%
CTRA	B	0.35%
TWLO	A	0.34%
FOXA	B	0.33%
OVV	B	0.33%
JNPR	F	0.33%
WAB	B	0.32%
JBL	B	0.31%
MTB	A	0.31%
EQT	B	0.28%
PARA	C	0.27%
EVRG	A	0.27%
STT	A	0.26%
LKQ	D	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%
HST	C	0.23%
WBA	F	0.22%
SJM	D	0.22%
ES	D	0.22%
FITB	A	0.21%
GPN	B	0.21%
BG	F	0.2%
EXE	B	0.2%
RF	A	0.2%
LDOS	C	0.19%
IP	B	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%
MOS	F	0.17%
CNH	C	0.17%
CF	B	0.16%
DINO	D	0.16%
APA	D	0.15%
SOLV	C	0.14%
CPT	B	0.13%
SW	A	0.13%
KEY	B	0.13%
EQH	B	0.12%
ACI	C	0.12%
LUV	C	0.12%
UHAL	D	0.11%
FBIN	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%
BIO	D	0.05%

VLUE Underweight 168 Positions Relative to PHEQ

Symbol	Grade	Weight
NVDA	C	-7.12%
AAPL	C	-6.85%
MSFT	F	-6.55%
AMZN	C	-4.1%
META	D	-2.66%
GOOGL	C	-2.28%
TSLA	B	-1.91%
GOOG	C	-1.9%
JPM	A	-1.73%
AVGO	D	-1.71%
BRK.A	B	-1.42%
XOM	B	-1.4%
LLY	F	-1.39%
UNH	C	-1.37%
V	A	-1.28%
HD	A	-1.15%
MA	C	-1.14%
PG	A	-1.09%
COST	B	-1.07%
JNJ	D	-1.04%
WMT	A	-0.96%
ABBV	D	-0.85%
CVX	A	-0.84%
NFLX	A	-0.8%
KO	D	-0.77%
ORCL	B	-0.73%
PEP	F	-0.72%
MRK	F	-0.69%
LIN	D	-0.67%
CRM	B	-0.63%
NOW	A	-0.61%
ABT	B	-0.6%
TMO	F	-0.59%
TXN	C	-0.59%
LMT	D	-0.58%
ISRG	A	-0.58%
DIS	B	-0.57%
LOW	D	-0.57%
AXP	A	-0.57%
CAT	B	-0.55%
UNP	C	-0.52%
AMD	F	-0.51%
MDT	D	-0.51%
TMUS	B	-0.51%
ADBE	C	-0.48%
TRGP	B	-0.46%
KKR	A	-0.46%
AMGN	D	-0.45%
DE	A	-0.44%
WM	A	-0.44%
MMM	D	-0.44%
CTAS	B	-0.42%
ETR	B	-0.4%
TRV	B	-0.39%
MS	A	-0.39%
BKNG	A	-0.39%
PLTR	B	-0.36%
VRTX	F	-0.36%
HWM	A	-0.36%
AVB	B	-0.35%
SCHW	B	-0.35%
KLAC	D	-0.34%
K	A	-0.34%
RSG	A	-0.34%
LNT	A	-0.33%
DOV	A	-0.33%
YUM	B	-0.33%
QCOM	F	-0.33%
KMB	D	-0.33%
OTIS	C	-0.33%
EQR	B	-0.32%
EXR	D	-0.32%
BA	F	-0.32%
ROST	C	-0.32%
MU	D	-0.31%
CMS	C	-0.31%
BRO	B	-0.31%
DTE	C	-0.31%
PANW	C	-0.3%
DRI	B	-0.3%
AEE	A	-0.3%
COR	B	-0.3%
APO	B	-0.3%
UBER	D	-0.29%
DOC	D	-0.29%
LRCX	F	-0.29%
CNP	B	-0.28%
AME	A	-0.28%
PYPL	B	-0.28%
MRVL	B	-0.25%
MELI	D	-0.25%
LII	A	-0.25%
ARES	A	-0.25%
FE	C	-0.24%
NDAQ	A	-0.24%
JBHT	C	-0.24%
RMD	C	-0.24%
MKL	A	-0.23%
NEM	D	-0.23%
ULTA	F	-0.23%
EXPD	D	-0.23%
LNG	B	-0.22%
HEI	B	-0.22%
WRB	A	-0.21%
REGN	F	-0.21%
ARE	D	-0.21%
AMCR	D	-0.21%
LULU	C	-0.21%
PFG	D	-0.2%
MSTR	C	-0.2%
ESS	B	-0.19%
SPOT	B	-0.19%
TTD	B	-0.18%
PPG	F	-0.18%
CPB	D	-0.18%
CSL	C	-0.18%
CRWD	B	-0.17%
DVN	F	-0.17%
IFF	D	-0.16%
HAL	C	-0.16%
ABNB	C	-0.15%
MOH	F	-0.14%
NDSN	B	-0.14%
HEI	B	-0.14%
ZBH	C	-0.14%
HUBS	A	-0.14%
MGM	D	-0.13%
WDAY	B	-0.13%
DASH	A	-0.13%
HUBB	B	-0.13%
DDOG	A	-0.13%
ALNY	D	-0.13%
SQ	B	-0.12%
RBLX	C	-0.12%
BAH	F	-0.12%
COIN	C	-0.12%
TW	A	-0.11%
IBKR	A	-0.11%
VRT	B	-0.1%
VEEV	C	-0.1%
SUI	D	-0.1%
DOX	D	-0.09%
TRU	D	-0.09%
ZS	C	-0.08%
NET	B	-0.07%
SCCO	F	-0.07%
AGR	B	-0.07%
YUMC	C	-0.07%
DKNG	B	-0.07%
SNOW	C	-0.06%
ALGN	D	-0.06%
AVTR	F	-0.06%
TEAM	A	-0.06%
SNAP	C	-0.05%
LPLA	A	-0.05%
CE	F	-0.05%
OWL	A	-0.05%
ILMN	D	-0.05%
OKTA	C	-0.04%
BSY	D	-0.04%
CPNG	D	-0.03%
PINS	D	-0.03%
SIRI	C	-0.03%
ENPH	F	-0.03%
RKT	F	-0.03%
WSM	B	-0.02%
WMG	C	-0.02%
MRNA	F	-0.01%