VONV vs. FMDE ETF Comparison

Comparison of Vanguard Russell 1000 Value ETF (VONV) to Fidelity Enhanced Mid Cap ETF (FMDE)

VONV

Vanguard Russell 1000 Value ETF

VONV Description

The investment seeks to track the performance of a benchmark index that measures the investment return of large-capitalization value stocks in the United States. The fund employs an indexing investment approach designed to track the performance of the Russell 1000® Value Index. The index is designed to measure the performance of large-capitalization value stocks in the United States. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Grade (RS Rating)

Last Trade

$86.79

Average Daily Volume

372,062

Number of Holdings ^*

842

* may have additional holdings in another (foreign) market

FMDE

Fidelity Enhanced Mid Cap ETF

FMDE Description

The fund will normally invest at least 80% of assets in common stocks included in the Russell Midcap® Index, which is a market capitalization-weighted index designed to measure the performance of the mid-cap segment of the U.S. equity market. The adviser will generally use computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the index. It will invest in domestic and foreign issuers.

Grade (RS Rating)

Last Trade

$34.97

Average Daily Volume

149,789

Number of Holdings ^*

292

* may have additional holdings in another (foreign) market

Performance

Period	VONV	FMDE
30 Days	3.51%	8.08%
60 Days	4.96%	9.45%
90 Days	7.00%	11.70%
12 Months	29.73%	39.69%

250 Overlapping Holdings

	Symbol	Grade	Weight in VONV	Weight in FMDE	Overlap
	A	D	0.15%	0.27%	0.15%
	ACGL	D	0.14%	0.09%	0.09%
	ACM	A	0.06%	0.17%	0.06%
	ADM	D	0.11%	0.07%	0.07%
	ADTN	A	0.01%	0.2%	0.01%
	AES	F	0.05%	0.12%	0.05%
	AFL	B	0.23%	0.02%	0.02%
	AIZ	A	0.04%	0.63%	0.04%
	AJG	B	0.23%	0.02%	0.02%
	AKAM	D	0.06%	0.03%	0.03%
	ALL	A	0.17%	0.57%	0.17%
	ALLE	D	0.05%	0.58%	0.05%
	ALSN	B	0.04%	0.37%	0.04%
	AM	A	0.01%	0.39%	0.01%
	AME	A	0.17%	0.4%	0.17%
	AMH	D	0.05%	0.49%	0.05%
	AMP	A	0.02%	0.6%	0.02%
	ANSS	B	0.11%	0.13%	0.11%
	ARW	D	0.03%	0.01%	0.01%
	ATI	D	0.03%	0.13%	0.03%
	AWK	D	0.11%	0.1%	0.1%
	AXS	A	0.02%	0.09%	0.02%
	AXTA	A	0.03%	0.47%	0.03%
	AYI	B	0.04%	0.31%	0.04%
	BBWI	D	0.03%	0.04%	0.03%
	BBY	D	0.08%	0.03%	0.03%
	BERY	B	0.03%	0.46%	0.03%
	BIIB	F	0.1%	0.04%	0.04%
	BILL	A	0.02%	0.25%	0.02%
	BK	A	0.22%	0.99%	0.22%
	BLD	D	0.04%	0.32%	0.04%
	BLDR	D	0.07%	0.2%	0.07%
	BMRN	D	0.05%	0.03%	0.03%
	BMY	B	0.45%	0.26%	0.26%
	BRO	B	0.06%	0.25%	0.06%
	BRX	A	0.03%	0.45%	0.03%
	BWXT	B	0.04%	0.47%	0.04%
	CACI	D	0.05%	0.49%	0.05%
	CAH	B	0.04%	0.74%	0.04%
	CBOE	B	0.09%	0.27%	0.09%
	CBRE	B	0.16%	0.03%	0.03%
	CBSH	A	0.03%	0.11%	0.03%
	CCI	D	0.19%	0.6%	0.19%
	CCK	C	0.04%	0.48%	0.04%
	CCL	B	0.09%	0.65%	0.09%
	CDW	F	0.05%	0.25%	0.05%
	CF	B	0.06%	0.03%	0.03%
	CFG	B	0.08%	0.23%	0.08%
	CI	F	0.32%	0.06%	0.06%
	CINF	A	0.09%	0.13%	0.09%
	CL	D	0.14%	0.42%	0.14%
	CMI	A	0.18%	0.94%	0.18%
	CNC	D	0.13%	0.57%	0.13%
	CNM	D	0.01%	0.03%	0.01%
	CNP	B	0.07%	0.52%	0.07%
	COIN	C	0.02%	0.31%	0.02%
	CRUS	D	0.02%	0.44%	0.02%
	CSGP	D	0.12%	0.66%	0.12%
	CSL	C	0.07%	0.05%	0.05%
	CTAS	B	0.01%	0.52%	0.01%
	CTRA	B	0.07%	0.1%	0.07%
	CVNA	B	0.07%	0.75%	0.07%
	CW	B	0.05%	0.59%	0.05%
	CWEN	C	0.0%	0.04%	0.0%
	CWEN	C	0.0%	0.07%	0.0%
	CWEN	C	0.01%	0.04%	0.01%
	CWEN	C	0.01%	0.07%	0.01%
	DAL	C	0.15%	0.05%	0.05%
	DASH	A	0.03%	0.16%	0.03%
	DBX	B	0.02%	0.56%	0.02%
	DCI	B	0.04%	0.52%	0.04%
	DD	D	0.14%	0.58%	0.14%
	DFS	B	0.15%	0.21%	0.15%
	DGX	A	0.07%	0.04%	0.04%
	DHI	D	0.2%	0.37%	0.2%
	DKS	C	0.04%	0.2%	0.04%
	DOC	D	0.06%	0.15%	0.06%
	DTE	C	0.1%	0.06%	0.06%
	DVN	F	0.1%	0.31%	0.1%
	EA	A	0.16%	0.58%	0.16%
	EBAY	D	0.12%	0.32%	0.12%
	ECL	D	0.03%	0.49%	0.03%
	ED	D	0.14%	0.02%	0.02%
	EEFT	B	0.02%	0.38%	0.02%
	EG	C	0.05%	0.06%	0.05%
	EGP	F	0.03%	0.05%	0.03%
	EIX	B	0.13%	0.61%	0.13%
	ELAN	D	0.02%	0.27%	0.02%
	EME	C	0.05%	0.31%	0.05%
	EPR	D	0.01%	0.03%	0.01%
	EQR	B	0.11%	0.29%	0.11%
	ES	D	0.09%	0.09%	0.09%
	EVRG	A	0.05%	0.41%	0.05%
	EXC	C	0.16%	0.11%	0.11%
	EXEL	B	0.01%	0.52%	0.01%
	FANG	D	0.13%	0.26%	0.13%
	FFIV	B	0.05%	0.54%	0.05%
	FIS	C	0.2%	0.63%	0.2%
	FLS	B	0.03%	0.21%	0.03%
	FR	C	0.03%	0.06%	0.03%
	FTI	A	0.05%	0.12%	0.05%
	FTV	C	0.1%	0.54%	0.1%
	GAP	C	0.02%	0.49%	0.02%
	GEHC	F	0.14%	0.11%	0.11%
	GILD	C	0.44%	0.51%	0.44%
	GIS	D	0.15%	0.33%	0.15%
	GL	B	0.04%	0.54%	0.04%
	GLPI	C	0.05%	0.27%	0.05%
	GPN	B	0.11%	0.2%	0.11%
	GRMN	B	0.12%	0.52%	0.12%
	GTES	A	0.02%	0.23%	0.02%
	GWW	B	0.02%	0.42%	0.02%
	GXO	B	0.03%	0.14%	0.03%
	HAL	C	0.1%	0.02%	0.02%
	HES	B	0.05%	0.22%	0.05%
	HIG	B	0.13%	0.4%	0.13%
	HII	D	0.03%	0.21%	0.03%
	HLT	A	0.11%	0.45%	0.11%
	HOOD	B	0.06%	0.01%	0.01%
	HPE	B	0.1%	0.61%	0.1%
	HPQ	B	0.11%	0.01%	0.01%
	HRB	D	0.03%	0.22%	0.03%
	HUBB	B	0.09%	0.59%	0.09%
	HUM	C	0.12%	0.06%	0.06%
	HWM	A	0.15%	0.89%	0.15%
	HXL	D	0.02%	0.35%	0.02%
	IBKR	A	0.06%	0.11%	0.06%
	IFF	D	0.1%	0.27%	0.1%
	INCY	C	0.04%	0.6%	0.04%
	INGR	B	0.03%	0.24%	0.03%
	IQV	D	0.13%	0.33%	0.13%
	ITT	A	0.05%	0.12%	0.05%
	JAZZ	B	0.03%	0.02%	0.02%
	JHG	A	0.02%	0.07%	0.02%
	K	A	0.08%	0.04%	0.04%
	KD	B	0.02%	0.15%	0.02%
	KEY	B	0.06%	0.65%	0.06%
	KMB	D	0.11%	0.22%	0.11%
	KMI	A	0.19%	0.14%	0.14%
	KR	B	0.15%	0.73%	0.15%
	L	A	0.06%	0.06%	0.06%
	LDOS	C	0.1%	0.6%	0.1%
	LEG	F	0.01%	0.08%	0.01%
	LEN	D	0.01%	0.29%	0.01%
	LEN	D	0.16%	0.29%	0.16%
	LHX	C	0.19%	0.24%	0.19%
	LNG	B	0.09%	0.59%	0.09%
	LPX	B	0.01%	0.35%	0.01%
	LSCC	D	0.0%	0.01%	0.0%
	LUV	C	0.07%	0.1%	0.07%
	LYFT	C	0.01%	0.57%	0.01%
	MCHP	D	0.16%	0.08%	0.08%
	MGM	D	0.03%	0.28%	0.03%
	MKL	A	0.06%	0.16%	0.06%
	MKTX	D	0.04%	0.19%	0.04%
	MRO	B	0.06%	0.02%	0.02%
	MSA	D	0.02%	0.07%	0.02%
	MSCI	C	0.07%	0.84%	0.07%
	MSI	B	0.16%	0.5%	0.16%
	MTB	A	0.13%	0.22%	0.13%
	MTDR	B	0.02%	0.28%	0.02%
	NDAQ	A	0.12%	0.44%	0.12%
	NOC	D	0.28%	0.18%	0.18%
	NRG	B	0.04%	0.65%	0.04%
	NSC	B	0.23%	0.06%	0.06%
	NTAP	C	0.05%	0.64%	0.05%
	NTNX	A	0.04%	0.33%	0.04%
	NUE	C	0.14%	0.6%	0.14%
	NVR	D	0.1%	0.65%	0.1%
	NVT	B	0.05%	0.41%	0.05%
	NWS	B	0.01%	0.11%	0.01%
	NWSA	B	0.04%	0.18%	0.04%
	NYT	C	0.04%	0.45%	0.04%
	OC	A	0.06%	0.23%	0.06%
	OGE	B	0.03%	0.04%	0.03%
	OKE	A	0.23%	0.01%	0.01%
	OVV	B	0.04%	0.02%	0.02%
	PCAR	B	0.21%	0.38%	0.21%
	PCG	A	0.17%	0.36%	0.17%
	PHM	D	0.11%	0.05%	0.05%
	PLTK	B	0.0%	0.25%	0.0%
	POST	C	0.02%	0.02%	0.02%
	PPG	F	0.12%	0.66%	0.12%
	PRU	A	0.18%	0.85%	0.18%
	PSA	D	0.18%	0.46%	0.18%
	PYPL	B	0.32%	0.54%	0.32%
	QGEN	D	0.04%	0.02%	0.02%
	QRVO	F	0.03%	0.5%	0.03%
	RCL	A	0.13%	0.18%	0.13%
	REG	B	0.05%	0.13%	0.05%
	REYN	D	0.01%	0.03%	0.01%
	RGA	A	0.06%	0.28%	0.06%
	RJF	A	0.11%	0.78%	0.11%
	ROP	B	0.23%	0.1%	0.1%
	ROST	C	0.14%	0.71%	0.14%
	RS	B	0.07%	0.3%	0.07%
	SAM	C	0.01%	0.15%	0.01%
	SBAC	D	0.1%	0.22%	0.1%
	SEE	C	0.02%	0.34%	0.02%
	SEIC	B	0.03%	0.24%	0.03%
	SF	B	0.04%	0.03%	0.03%
	SNX	C	0.03%	0.44%	0.03%
	SOLV	C	0.04%	0.39%	0.04%
	SPG	B	0.16%	0.96%	0.16%
	SQ	B	0.09%	0.97%	0.09%
	SSNC	B	0.06%	0.59%	0.06%
	STAG	F	0.03%	0.01%	0.01%
	STLD	B	0.08%	0.47%	0.08%
	STT	A	0.11%	0.72%	0.11%
	SWK	D	0.06%	0.01%	0.01%
	SWKS	F	0.06%	0.45%	0.06%
	SYF	B	0.09%	0.36%	0.09%
	SYY	B	0.06%	0.11%	0.06%
	TNL	A	0.01%	0.06%	0.01%
	TOL	B	0.06%	0.62%	0.06%
	TPR	B	0.04%	0.51%	0.04%
	TT	A	0.22%	0.48%	0.22%
	TW	A	0.04%	0.22%	0.04%
	TWLO	A	0.04%	0.67%	0.04%
	TXG	F	0.0%	0.05%	0.0%
	TXT	D	0.06%	0.59%	0.06%
	U	C	0.01%	0.04%	0.01%
	UAL	A	0.1%	0.79%	0.1%
	UHS	D	0.05%	0.32%	0.05%
	ULTA	F	0.01%	0.04%	0.01%
	UNM	A	0.05%	0.52%	0.05%
	USFD	A	0.06%	0.16%	0.06%
	UTHR	C	0.07%	0.35%	0.07%
	VICI	C	0.13%	0.63%	0.13%
	VIRT	B	0.01%	0.06%	0.01%
	VLTO	D	0.06%	0.1%	0.06%
	VMC	B	0.11%	0.42%	0.11%
	VMI	B	0.02%	0.37%	0.02%
	VSTS	C	0.01%	0.07%	0.01%
	WAB	B	0.13%	0.43%	0.13%
	WBD	C	0.08%	0.08%	0.08%
	WCC	B	0.03%	0.33%	0.03%
	WEN	D	0.01%	0.05%	0.01%
	WMB	A	0.25%	1.12%	0.25%
	WSM	B	0.03%	0.11%	0.03%
	WTW	B	0.12%	0.72%	0.12%
	WU	D	0.01%	0.33%	0.01%
	WWD	B	0.04%	0.16%	0.04%
	XEL	A	0.15%	0.28%	0.15%
	XRAY	F	0.02%	0.08%	0.02%
	Z	A	0.03%	0.32%	0.03%
	ZBRA	B	0.06%	0.25%	0.06%
	ZG	A	0.02%	0.26%	0.02%
	ZION	B	0.03%	0.34%	0.03%
	ZM	B	0.08%	0.67%	0.08%

VONV Overweight 594 Positions Relative to FMDE

	Symbol	Grade	Weight
	BRK.A	B	3.3%
	JPM	A	2.55%
	XOM	B	2.1%
	UNH	C	1.94%
	JNJ	D	1.54%
	WMT	A	1.42%
	PG	A	1.21%
	BAC	A	1.14%
	CVX	A	1.03%
	WFC	A	0.91%
	CSCO	B	0.89%
	LIN	D	0.88%
	ACN	C	0.87%
	TMO	F	0.84%
	PM	B	0.83%
	ABBV	D	0.82%
	MCD	D	0.79%
	ABT	B	0.78%
	IBM	C	0.76%
	DIS	B	0.71%
	VZ	C	0.71%
	CMCSA	B	0.67%
	T	A	0.65%
	TXN	C	0.65%
	NEE	D	0.65%
	PFE	D	0.64%
	RTX	C	0.64%
	CAT	B	0.63%
	DHR	F	0.63%
	LOW	D	0.6%
	SPGI	C	0.6%
	GE	D	0.59%
	BLK	C	0.58%
	ETN	A	0.53%
	MS	A	0.51%
	COP	C	0.51%
	C	A	0.49%
	BSX	B	0.49%
	GS	A	0.48%
	CB	C	0.46%
	MDT	D	0.46%
	HON	B	0.45%
	MU	D	0.44%
	ADI	D	0.44%
	TMUS	B	0.43%
	KO	D	0.43%
	PLD	D	0.42%
	DE	A	0.41%
	SO	D	0.4%
	UPS	C	0.39%
	AXP	A	0.38%
	SCHW	B	0.38%
	MDLZ	F	0.37%
	INTC	D	0.37%
	MMC	B	0.37%
	MO	A	0.37%
	DUK	C	0.36%
	SYK	C	0.36%
	ICE	C	0.35%
	BA	F	0.34%
	WELL	A	0.33%
	EQIX	A	0.33%
	GEV	B	0.33%
	AMD	F	0.32%
	HD	A	0.32%
	ELV	F	0.32%
	LMT	D	0.32%
	GD	F	0.32%
	REGN	F	0.32%
	CME	A	0.32%
	PH	A	0.32%
	FI	A	0.31%
	UNP	C	0.3%
	PNC	B	0.3%
	USB	A	0.3%
	CVS	D	0.29%
	AON	A	0.29%
	APD	A	0.28%
	TGT	F	0.28%
	CEG	D	0.28%
	EOG	A	0.28%
	KKR	A	0.27%
	BDX	F	0.27%
	FCX	D	0.26%
	CSX	B	0.26%
	VRTX	F	0.25%
	COF	B	0.25%
	EMR	A	0.25%
	FDX	B	0.25%
	MRVL	B	0.25%
	MAR	B	0.24%
	TDG	D	0.23%
	GM	B	0.23%
	SLB	C	0.23%
	TFC	A	0.23%
	DLR	B	0.23%
	MMM	D	0.23%
	TRV	B	0.22%
	MPC	D	0.21%
	O	D	0.21%
	AEP	D	0.21%
	TJX	A	0.21%
	NEM	D	0.21%
	SRE	A	0.21%
	AIG	B	0.2%
	CARR	D	0.2%
	D	C	0.2%
	PSX	C	0.2%
	HCA	F	0.2%
	PEP	F	0.19%
	ITW	B	0.19%
	KVUE	A	0.18%
	PEG	A	0.18%
	MET	A	0.18%
	VLO	C	0.17%
	CRM	B	0.17%
	JCI	C	0.17%
	CTVA	C	0.17%
	OTIS	C	0.16%
	F	C	0.16%
	RSG	A	0.16%
	URI	B	0.16%
	GLW	B	0.15%
	KDP	D	0.15%
	MCK	B	0.15%
	STZ	D	0.15%
	CTSH	B	0.15%
	AMGN	D	0.15%
	BKR	B	0.15%
	IR	B	0.15%
	EXR	D	0.14%
	MLM	B	0.14%
	DOW	F	0.14%
	NKE	D	0.14%
	MSTR	C	0.14%
	AVB	B	0.13%
	EW	C	0.13%
	ETR	B	0.13%
	APH	A	0.13%
	OXY	D	0.13%
	XYL	D	0.12%
	KHC	F	0.12%
	FITB	A	0.12%
	WEC	A	0.12%
	ON	D	0.12%
	PWR	A	0.12%
	CHTR	C	0.12%
	VTR	C	0.11%
	SW	A	0.11%
	MTD	D	0.11%
	ROK	B	0.11%
	TTWO	A	0.11%
	DELL	C	0.11%
	PAYX	C	0.11%
	PPL	B	0.1%
	FE	C	0.1%
	TROW	B	0.1%
	CHD	B	0.1%
	SBUX	A	0.1%
	RMD	C	0.1%
	DOV	A	0.1%
	KEYS	A	0.1%
	EFX	F	0.1%
	WDC	D	0.09%
	STE	F	0.09%
	ZBH	C	0.09%
	RF	A	0.09%
	HSY	F	0.09%
	PGR	A	0.09%
	HBAN	A	0.09%
	LYB	F	0.09%
	WY	D	0.09%
	YUM	B	0.09%
	ILMN	D	0.09%
	AEE	A	0.09%
	FCNCA	A	0.09%
	APO	B	0.08%
	PFG	D	0.08%
	LH	C	0.08%
	INVH	D	0.08%
	IP	B	0.08%
	ARE	D	0.08%
	OMC	C	0.08%
	MKC	D	0.08%
	NTRS	A	0.08%
	EQT	B	0.08%
	PKG	A	0.08%
	CMS	C	0.08%
	FSLR	F	0.08%
	ATO	A	0.08%
	TDY	B	0.08%
	IEX	B	0.07%
	SUI	D	0.07%
	PNR	A	0.07%
	WSO	A	0.07%
	TSN	B	0.07%
	WRB	A	0.07%
	SNA	A	0.07%
	J	F	0.07%
	MRNA	F	0.07%
	DG	F	0.07%
	MAA	B	0.07%
	MAS	D	0.07%
	ESS	B	0.07%
	BAX	D	0.07%
	BALL	D	0.07%
	HOLX	D	0.07%
	TRU	D	0.07%
	VTRS	A	0.06%
	CAG	D	0.06%
	UDR	B	0.06%
	VRSN	F	0.06%
	EXPD	D	0.06%
	NDSN	B	0.06%
	ZTS	D	0.06%
	RVTY	F	0.06%
	TRMB	B	0.06%
	THC	D	0.06%
	JBHT	C	0.06%
	AVTR	F	0.06%
	LNT	A	0.06%
	IRM	D	0.06%
	APTV	D	0.06%
	RBA	A	0.06%
	FNF	B	0.06%
	KIM	A	0.06%
	NI	A	0.06%
	GEN	B	0.06%
	GPC	D	0.06%
	AMCR	D	0.06%
	QCOM	F	0.05%
	TECH	D	0.05%
	SCI	B	0.05%
	SJM	D	0.05%
	CLH	B	0.05%
	BG	F	0.05%
	CHRW	C	0.05%
	CPT	B	0.05%
	HST	C	0.05%
	WPC	D	0.05%
	CASY	A	0.05%
	COHR	B	0.05%
	AMAT	F	0.05%
	EMN	D	0.05%
	JBL	B	0.05%
	RPM	A	0.05%
	BXP	D	0.05%
	JNPR	F	0.05%
	ELS	C	0.05%
	DLTR	F	0.05%
	JKHY	D	0.05%
	RNR	C	0.05%
	EWBC	A	0.05%
	GGG	B	0.05%
	DTM	B	0.04%
	WST	C	0.04%
	FYBR	D	0.04%
	WBS	A	0.04%
	JLL	D	0.04%
	HRL	D	0.04%
	WAL	B	0.04%
	CPB	D	0.04%
	HSIC	B	0.04%
	DRI	B	0.04%
	LAD	A	0.04%
	AOS	F	0.04%
	WYNN	D	0.04%
	FRT	B	0.04%
	CRL	C	0.04%
	FTNT	C	0.04%
	CIEN	B	0.04%
	MTCH	D	0.04%
	REXR	F	0.04%
	AFG	A	0.04%
	DPZ	C	0.04%
	FHN	A	0.04%
	TFX	F	0.04%
	EVR	B	0.04%
	BKNG	A	0.04%
	TAP	C	0.04%
	DAY	B	0.04%
	PRI	A	0.04%
	LKQ	D	0.04%
	RGLD	C	0.04%
	FOXA	B	0.04%
	SOFI	A	0.04%
	WTRG	B	0.04%
	CNH	C	0.04%
	EPAM	C	0.04%
	EHC	B	0.04%
	ARMK	B	0.04%
	PNW	B	0.04%
	AA	B	0.04%
	DOX	D	0.04%
	EL	F	0.04%
	AFRM	B	0.04%
	TTEK	F	0.04%
	CE	F	0.04%
	FBIN	D	0.04%
	AVY	D	0.04%
	OHI	C	0.04%
	RPRX	D	0.04%
	KMX	B	0.04%
	CTLT	B	0.04%
	PFGC	B	0.04%
	CUBE	D	0.04%
	CG	A	0.04%
	RRX	B	0.04%
	IPG	D	0.04%
	ATR	B	0.04%
	ALB	C	0.04%
	FDS	B	0.04%
	BJ	A	0.04%
	LSTR	D	0.03%
	MKSI	C	0.03%
	MTSI	B	0.03%
	OKTA	C	0.03%
	IVZ	B	0.03%
	ALGN	D	0.03%
	WEX	D	0.03%
	XP	F	0.03%
	FAF	A	0.03%
	RGEN	D	0.03%
	MTG	C	0.03%
	SIRI	C	0.03%
	WMS	D	0.03%
	BFAM	D	0.03%
	CGNX	C	0.03%
	PB	A	0.03%
	PARA	C	0.03%
	OSK	B	0.03%
	KEX	C	0.03%
	G	B	0.03%
	WBA	F	0.03%
	COKE	C	0.03%
	RHI	B	0.03%
	FCN	D	0.03%
	MAT	D	0.03%
	AGNC	D	0.03%
	ROKU	D	0.03%
	FND	C	0.03%
	MIDD	C	0.03%
	SSD	D	0.03%
	MOH	F	0.03%
	BIO	D	0.03%
	ESAB	B	0.03%
	GNTX	C	0.03%
	PR	B	0.03%
	MHK	D	0.03%
	FAST	B	0.03%
	LBRDK	C	0.03%
	FICO	B	0.03%
	RRC	B	0.03%
	SNV	B	0.03%
	CHE	D	0.03%
	ONTO	D	0.03%
	VFC	C	0.03%
	VNO	B	0.03%
	COLD	D	0.03%
	ADC	B	0.03%
	SKX	D	0.03%
	SAIC	F	0.03%
	WAT	B	0.03%
	CFR	B	0.03%
	SHW	A	0.03%
	AR	B	0.03%
	WTFC	A	0.03%
	MNST	C	0.03%
	ACI	C	0.03%
	LW	C	0.03%
	BWA	D	0.03%
	EXAS	D	0.03%
	LECO	B	0.03%
	CR	A	0.03%
	MTZ	B	0.03%
	CHRD	D	0.03%
	APG	B	0.03%
	NNN	D	0.03%
	RL	B	0.03%
	RBC	A	0.03%
	TKO	B	0.03%
	PNFP	B	0.03%
	JEF	A	0.03%
	FMC	D	0.03%
	VOYA	B	0.03%
	CRBG	B	0.03%
	KNX	B	0.03%
	AAL	B	0.03%
	KBR	F	0.03%
	HLI	B	0.03%
	GMED	A	0.03%
	RIVN	F	0.03%
	ALLY	C	0.03%
	GWRE	A	0.03%
	GME	C	0.03%
	GPK	C	0.03%
	TTC	D	0.03%
	CMA	A	0.03%
	ADP	B	0.03%
	APA	D	0.03%
	MOS	F	0.03%
	BRBR	A	0.03%
	LAMR	D	0.03%
	CZR	F	0.03%
	PTC	A	0.03%
	ORI	A	0.03%
	X	C	0.03%
	ALNY	D	0.02%
	KMPR	B	0.02%
	MSGS	A	0.02%
	RH	B	0.02%
	HOG	D	0.02%
	ACHC	F	0.02%
	TYL	B	0.02%
	AN	C	0.02%
	SITE	D	0.02%
	PAYC	B	0.02%
	W	F	0.02%
	AWI	A	0.02%
	CLF	F	0.02%
	FLO	D	0.02%
	UHAL	D	0.02%
	OLED	D	0.02%
	M	D	0.02%
	FRPT	B	0.02%
	ASH	D	0.02%
	SLGN	A	0.02%
	LITE	B	0.02%
	DLB	B	0.02%
	TPG	A	0.02%
	AGO	B	0.02%
	WSC	D	0.02%
	AZO	C	0.02%
	WTM	A	0.02%
	WLK	D	0.02%
	RYN	D	0.02%
	OZK	B	0.02%
	AL	B	0.02%
	CUZ	B	0.02%
	KRC	C	0.02%
	DOCS	C	0.02%
	SLM	A	0.02%
	BYD	C	0.02%
	OLN	D	0.02%
	AVT	C	0.02%
	OGN	D	0.02%
	SN	D	0.02%
	ROIV	C	0.02%
	PSN	D	0.02%
	GNRC	B	0.02%
	UGI	A	0.02%
	ORLY	B	0.02%
	SON	D	0.02%
	ST	F	0.02%
	FNB	A	0.02%
	FOX	A	0.02%
	IDA	A	0.02%
	CROX	D	0.02%
	THO	B	0.02%
	THG	A	0.02%
	TKR	D	0.02%
	SAIA	B	0.02%
	BC	C	0.02%
	LEA	D	0.02%
	PVH	C	0.02%
	H	B	0.02%
	WHR	B	0.02%
	NFG	A	0.02%
	OMF	A	0.02%
	OLLI	D	0.02%
	BPOP	B	0.02%
	SRCL	C	0.02%
	VNT	B	0.02%
	MDU	D	0.02%
	LNC	B	0.02%
	BEN	C	0.02%
	S	B	0.02%
	COLB	A	0.02%
	LFUS	F	0.02%
	ALK	C	0.02%
	ESI	A	0.02%
	DINO	D	0.02%
	RLI	B	0.02%
	AMG	B	0.02%
	NOV	C	0.02%
	STWD	C	0.02%
	WH	B	0.02%
	DAR	C	0.02%
	AGCO	D	0.02%
	R	B	0.02%
	UA	C	0.01%
	SNDR	B	0.01%
	FTRE	D	0.01%
	GO	C	0.01%
	TER	D	0.01%
	TRIP	F	0.01%
	WOLF	F	0.01%
	INFA	D	0.01%
	BIRK	D	0.01%
	PPC	C	0.01%
	QS	F	0.01%
	UAA	C	0.01%
	AZEK	A	0.01%
	CRI	D	0.01%
	PSTG	D	0.01%
	PINC	B	0.01%
	CNXC	F	0.01%
	KSS	F	0.01%
	ETSY	D	0.01%
	YETI	C	0.01%
	AAP	C	0.01%
	AZTA	D	0.01%
	BR	A	0.01%
	BROS	B	0.01%
	LCID	F	0.01%
	GLOB	B	0.01%
	IPGP	D	0.01%
	RKT	F	0.01%
	RCM	F	0.01%
	BRKR	D	0.01%
	ENOV	C	0.01%
	CPRI	F	0.01%
	JWN	C	0.01%
	EXP	A	0.01%
	HAYW	B	0.01%
	BOKF	B	0.01%
	MP	B	0.01%
	SHC	F	0.01%
	HHH	B	0.01%
	SPB	C	0.01%
	CC	C	0.01%
	AGR	B	0.01%
	ALGM	D	0.01%
	CXT	B	0.01%
	VAC	B	0.01%
	CLVT	F	0.01%
	COLM	B	0.01%
	LOPE	B	0.01%
	MPW	F	0.01%
	PAG	B	0.01%
	COTY	F	0.01%
	AMKR	D	0.01%
	PK	B	0.01%
	NSA	D	0.01%
	BHF	B	0.01%
	MAN	D	0.01%
	MASI	A	0.01%
	PENN	C	0.01%
	AMED	F	0.01%
	CPRT	A	0.01%
	IRDM	D	0.01%
	PLNT	A	0.01%
	FHB	A	0.01%
	SPR	D	0.01%
	NXST	C	0.01%
	ZI	D	0.01%
	PRGO	B	0.01%
	HIW	D	0.01%
	CIVI	D	0.01%
	DXC	B	0.01%
	IAC	D	0.01%
	NEU	C	0.01%
	PII	D	0.01%
	GFS	C	0.01%
	MSM	C	0.01%
	NVST	B	0.01%
	DNB	B	0.01%
	HUN	F	0.01%
	NWL	B	0.01%
	SMG	D	0.01%
	UHAL	D	0.0%
	UWMC	D	0.0%
	SEG	B	0.0%
	NFE	D	0.0%
	IONS	F	0.0%
	CHH	A	0.0%
	CACC	D	0.0%
	UI	A	0.0%
	TFSL	A	0.0%
	LBRDA	C	0.0%
	SEB	F	0.0%
	PATH	C	0.0%
	DJT	C	0.0%
	CAR	C	0.0%
	PYCR	C	0.0%
	MTN	C	0.0%
	HCP	B	0.0%
	FIVE	F	0.0%
	CNA	B	0.0%
	DV	C	0.0%
	DDS	B	0.0%
	HAS	D	0.0%
	NCNO	B	0.0%
	CERT	F	0.0%

VONV Underweight 45 Positions Relative to FMDE

	Symbol	Grade	Weight
	VST	B	-0.94%
	EXPE	B	-0.73%
	RBLX	C	-0.72%
	VEEV	C	-0.71%
	TOST	B	-0.69%
	AXON	A	-0.67%
	DOCU	A	-0.65%
	CLX	B	-0.65%
	EQH	B	-0.62%
	IDXX	F	-0.61%
	HUBS	A	-0.61%
	DKNG	B	-0.56%
	TRGP	B	-0.56%
	MANH	D	-0.54%
	COR	B	-0.51%
	MPWR	F	-0.51%
	TDC	D	-0.48%
	BURL	A	-0.48%
	MEDP	D	-0.45%
	PEGA	A	-0.45%
	ANF	C	-0.45%
	LNW	D	-0.44%
	NBIX	C	-0.44%
	PLTR	B	-0.43%
	CPNG	D	-0.39%
	FIX	A	-0.38%
	IGT	F	-0.38%
	KLAC	D	-0.36%
	RNG	B	-0.34%
	DUOL	A	-0.33%
	CPAY	A	-0.31%
	APP	B	-0.3%
	GDDY	A	-0.29%
	BAH	F	-0.27%
	DXCM	D	-0.27%
	PCTY	B	-0.21%
	TPL	A	-0.14%
	CHDN	B	-0.12%
	MORN	B	-0.11%
	CTRE	D	-0.1%
	LPLA	A	-0.09%
	AMT	D	-0.06%
	WDAY	B	-0.06%
	NTRA	B	-0.05%
	TXRH	C	-0.03%

VONV: Top Represented Industries & Keywords

Industries: Diversified Industrials Banks - Regional - US Utilities - Regulated Electric Software - Application Asset Management Oil & Gas E&P Business Services Semiconductors Biotechnology Diagnostics & Research Specialty Retail Capital Markets Packaged Foods Specialty Chemicals Information Technology Services Insurance - Property & Casualty Packaging & Containers Aerospace & Defense Software - Infrastructure REIT - Residential

Keywords: S&P 500 Nasdaq 100 Natural Gas Insurance Bank Electronics Banking Computing Real Estate Investment Trust Chemical Aerospace Electricity Mining Telecommunications Insurance Products Semiconductor Biotechnology Dow Jones Component Beverage Medicine

FMDE: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Utilities - Regulated Electric Business Services Capital Markets Diagnostics & Research Aerospace & Defense Oil & Gas E&P Software - Infrastructure Biotechnology Semiconductors Specialty Retail Asset Management Banks - Regional - US Building Materials Insurance - Property & Casualty Oil & Gas Midstream Residential Construction Apparel Stores Communication Equipment

Keywords: S&P 500 Nasdaq 100 Insurance Computing Natural Gas Aerospace Electricity Disability Electronics Cloud Computing Real Estate Investment Trust IBD 50 Insurance Products Telecommunications Life Insurance Mining Technology Solutions Building Materials Mobile Devices Bank