VLUE vs. WBIF ETF Comparison

Comparison of iShares MSCI USA Value Factor (VLUE) to WBI Large Cap Tactical Value Shares (WBIF)

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

$100.79

Average Daily Volume

379,277

Number of Holdings ^*

150

* may have additional holdings in another (foreign) market

WBIF

WBI Large Cap Tactical Value Shares

WBIF Description

The investment seeks long-term capital appreciation and the potential for current income, while also seeking to protect principal during unfavorable market conditions. The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the equity securities of large capitalization domestic and foreign companies which WBI Investments, Inc., the sub-advisor to the fund and an affiliate of Millington Securities Inc., the advisor, believes display an attractive discount in a company's intrinsic value relative to its market price, and up to 20% of its net assets in other tactical investment opportunities.

Grade (RS Rating)

Last Trade

$28.89

Average Daily Volume

1,833

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	VLUE	WBIF
30 Days	-5.62%	-4.53%
60 Days	-2.35%	-1.81%
90 Days	0.75%	2.29%
12 Months	15.97%	12.58%

8 Overlapping Holdings

Symbol	Grade	Weight in VLUE	Weight in WBIF	Overlap
CI	B	1.49%	2.04%	1.49%
F	B	2.38%	2.03%	2.03%
HPQ	F	0.86%	3.96%	0.86%
IBM	D	3.41%	3.31%	3.31%
MO	A	1.17%	4.95%	1.17%
NXPI	B	1.32%	1.9%	1.32%
PCAR	D	0.79%	1.93%	0.79%
UHS	C	0.15%	1.95%	0.15%

VLUE Overweight 142 Positions Relative to WBIF

Symbol	Grade	Weight
INTC	F	5.17%
CSCO	F	4.85%
T	B	4.66%
GM	B	3.72%
AMAT	C	2.75%
PFE	C	2.26%
WFC	B	2.22%
C	B	2.04%
RTX	A	1.87%
CVS	F	1.78%
VZ	D	1.77%
LEN	C	1.76%
BAC	B	1.76%
BMY	F	1.57%
DHI	C	1.56%
ELV	B	1.28%
GS	A	1.28%
FDX	B	1.19%
HPE	D	1.12%
PHM	A	1.12%
VLO	B	1.04%
KHC	B	0.96%
CTSH	F	0.94%
FANG	B	0.93%
TEL	D	0.92%
GILD	F	0.88%
URI	D	0.85%
DELL	A	0.85%
SPG	D	0.84%
GLW	B	0.78%
KR	B	0.78%
ADM	C	0.72%
WY	F	0.7%
CNC	D	0.69%
COF	B	0.69%
ON	D	0.67%
AIG	A	0.65%
CBRE	C	0.62%
WBD	F	0.61%
JCI	B	0.56%
NUE	D	0.55%
BLDR	C	0.55%
SWKS	F	0.54%
TFC	A	0.54%
TSN	A	0.53%
LHX	A	0.52%
CMI	B	0.52%
MRO	B	0.51%
PCG	A	0.5%
MET	D	0.48%
CTRA	B	0.48%
MCHP	A	0.48%
WBA	F	0.47%
OVV	B	0.45%
NTAP	B	0.45%
PRU	D	0.45%
BK	B	0.43%
EXPE	A	0.42%
FIS	D	0.42%
BBY	F	0.41%
TAP	F	0.41%
OC	A	0.41%
VTRS	C	0.39%
ED	A	0.37%
USB	D	0.34%
WAB	A	0.34%
NRG	A	0.34%
D	A	0.33%
DOW	D	0.32%
BWA	B	0.32%
QRVO	F	0.31%
GPN	F	0.31%
TXT	D	0.31%
CAG	A	0.3%
JNPR	D	0.3%
PPL	A	0.3%
PARA	B	0.29%
EQT	A	0.29%
LKQ	F	0.29%
LEA	F	0.28%
LYB	D	0.26%
FFIV	F	0.26%
STLD	D	0.26%
SJM	F	0.25%
FOXA	A	0.25%
CFG	A	0.25%
GEN	F	0.25%
MTB	A	0.24%
Z	F	0.23%
LH	F	0.23%
HIG	D	0.23%
FSLR	B	0.23%
SSNC	C	0.23%
DINO	F	0.22%
STT	D	0.22%
FITB	A	0.22%
APA	F	0.22%
CHK	B	0.21%
DAL	A	0.21%
EVRG	A	0.21%
LBTYK	D	0.21%
LDOS	A	0.19%
KNX	F	0.19%
SYF	A	0.19%
AZPN	B	0.18%
JBL	F	0.18%
ZM	D	0.18%
ES	B	0.18%
RF	A	0.18%
CNHI	D	0.17%
DGX	A	0.17%
MOS	F	0.17%
SNA	D	0.17%
ALLY	B	0.16%
RPRX	C	0.16%
WRK	A	0.15%
EG	D	0.14%
CF	F	0.14%
CLF	F	0.14%
FBIN	F	0.14%
L	A	0.14%
UHAL	B	0.14%
HII	F	0.14%
HBAN	A	0.13%
NLY	B	0.13%
EQH	A	0.13%
JAZZ	F	0.12%
LUV	F	0.12%
FOX	A	0.12%
KEY	B	0.12%
TWLO	C	0.11%
ACI	C	0.11%
ALB	D	0.1%
FNF	B	0.09%
IP	C	0.09%
DAR	F	0.08%
UTHR	A	0.08%
LSXMK	D	0.08%
EMN	B	0.08%
DVA	A	0.07%
WLK	A	0.06%
BEN	F	0.06%

VLUE Underweight 24 Positions Relative to WBIF

Symbol	Grade	Weight
SJNK	A	-9.24%
KNTK	B	-4.95%
TW	B	-4.32%
CHD	B	-4.1%
HRB	B	-4.04%
NFLX	C	-3.88%
BR	C	-3.87%
MSFT	D	-3.08%
AXP	B	-2.38%
GIS	B	-2.23%
EBAY	B	-2.17%
RGA	A	-2.04%
UNM	A	-2.02%
GRMN	A	-2.0%
WRB	C	-2.0%
DKS	B	-1.99%
HAL	D	-1.97%
MAR	D	-1.95%
CARR	A	-1.95%
SLB	F	-1.88%
CNA	A	-1.86%
BCC	D	-1.82%
TGT	D	-1.57%
KMB	A	-0.92%