VONV vs. ILCV ETF Comparison

Comparison of Vanguard Russell 1000 Value ETF (VONV) to iShares Morningstar Value ETF (ILCV)

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

$83.07

Average Daily Volume

316,587

Number of Holdings ^*

839

* may have additional holdings in another (foreign) market

ILCV

iShares Morningstar Value ETF

ILCV Description

The investment seeks to track the investment results of the Morningstar® US Large-Mid Cap Broad Value IndexSM composed of large-and mid-capitalization U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index measures the performance of stocks issued by large-mid capitalization companies that have exhibited above-average value characteristics as determined by Morningstar, Inc.(Morningstar or the index provider) proprietary index methodology.

Grade (RS Rating)

Last Trade

$81.88

Average Daily Volume

19,014

Number of Holdings ^*

441

* may have additional holdings in another (foreign) market

Performance

Period	VONV	ILCV
30 Days	2.34%	1.62%
60 Days	4.61%	4.02%
90 Days	9.07%	7.27%
12 Months	26.73%	26.63%

403 Overlapping Holdings

	Symbol	Grade	Weight in VONV	Weight in ILCV	Overlap
	ABBV	B	0.79%	1.32%	0.79%
	ABT	C	0.79%	0.76%	0.76%
	ACGL	B	0.16%	0.11%	0.11%
	ACI	F	0.03%	0.03%	0.03%
	ACM	B	0.05%	0.02%	0.02%
	ACN	C	0.86%	0.7%	0.7%
	ADI	C	0.47%	0.36%	0.36%
	ADM	D	0.12%	0.11%	0.11%
	ADP	C	0.03%	0.27%	0.03%
	AEE	B	0.09%	0.09%	0.09%
	AEP	C	0.21%	0.21%	0.21%
	AES	C	0.05%	0.05%	0.05%
	AFG	C	0.04%	0.02%	0.02%
	AFL	A	0.25%	0.21%	0.21%
	AGR	C	0.01%	0.01%	0.01%
	AIG	D	0.21%	0.18%	0.18%
	AJG	D	0.24%	0.15%	0.15%
	AKAM	D	0.06%	0.03%	0.03%
	ALB	D	0.04%	0.02%	0.02%
	ALGN	D	0.03%	0.03%	0.03%
	ALL	C	0.17%	0.11%	0.11%
	ALLE	B	0.05%	0.02%	0.02%
	ALLY	F	0.04%	0.04%	0.04%
	AMAT	D	0.05%	0.37%	0.05%
	AMCR	B	0.07%	0.06%	0.06%
	AMGN	D	0.16%	0.7%	0.16%
	AMP	B	0.02%	0.06%	0.02%
	AON	B	0.27%	0.21%	0.21%
	AOS	B	0.04%	0.01%	0.01%
	APA	F	0.04%	0.04%	0.04%
	APD	B	0.25%	0.25%	0.25%
	APH	C	0.13%	0.13%	0.13%
	APO	B	0.06%	0.14%	0.06%
	APTV	D	0.08%	0.03%	0.03%
	AR	C	0.03%	0.03%	0.03%
	ARE	C	0.08%	0.05%	0.05%
	ATO	B	0.08%	0.08%	0.08%
	AVB	C	0.13%	0.06%	0.06%
	AVTR	C	0.07%	0.03%	0.03%
	AVY	C	0.04%	0.03%	0.03%
	AWK	C	0.11%	0.06%	0.06%
	AXP	B	0.37%	0.38%	0.37%
	BA	F	0.34%	0.36%	0.34%
	BAC	D	1.11%	1.05%	1.05%
	BALL	C	0.08%	0.03%	0.03%
	BAX	C	0.08%	0.08%	0.08%
	BBY	A	0.09%	0.07%	0.07%
	BDX	D	0.28%	0.26%	0.26%
	BEN	F	0.02%	0.02%	0.02%
	BG	F	0.06%	0.05%	0.05%
	BIIB	F	0.12%	0.11%	0.11%
	BJ	D	0.04%	0.02%	0.02%
	BK	B	0.2%	0.2%	0.2%
	BKNG	B	0.03%	0.35%	0.03%
	BKR	C	0.14%	0.07%	0.07%
	BLD	C	0.05%	0.02%	0.02%
	BLDR	C	0.08%	0.05%	0.05%
	BLK	B	0.53%	0.53%	0.53%
	BMY	C	0.41%	0.39%	0.39%
	BRK.A	C	3.5%	3.16%	3.16%
	BSX	B	0.48%	0.25%	0.25%
	BXP	C	0.05%	0.05%	0.05%
	C	C	0.48%	0.46%	0.46%
	CAG	B	0.06%	0.06%	0.06%
	CAH	C	0.04%	0.11%	0.04%
	CARR	B	0.2%	0.11%	0.11%
	CASY	D	0.04%	0.02%	0.02%
	CAT	B	0.6%	0.53%	0.53%
	CB	B	0.46%	0.42%	0.42%
	CBRE	B	0.14%	0.06%	0.06%
	CCI	C	0.2%	0.19%	0.19%
	CCK	B	0.04%	0.03%	0.03%
	CCL	C	0.07%	0.07%	0.07%
	CE	D	0.04%	0.02%	0.02%
	CEG	C	0.21%	0.31%	0.21%
	CF	B	0.06%	0.06%	0.06%
	CFG	D	0.08%	0.07%	0.07%
	CG	C	0.04%	0.04%	0.04%
	CHK	C	0.04%	0.03%	0.03%
	CHTR	D	0.13%	0.13%	0.13%
	CI	C	0.37%	0.38%	0.37%
	CINF	C	0.08%	0.05%	0.05%
	CL	C	0.16%	0.23%	0.16%
	CMCSA	C	0.62%	0.6%	0.6%
	CMI	B	0.17%	0.05%	0.05%
	CMS	B	0.08%	0.05%	0.05%
	CNC	D	0.17%	0.15%	0.15%
	CNH	C	0.04%	0.04%	0.04%
	CNP	C	0.07%	0.07%	0.07%
	COF	B	0.22%	0.22%	0.22%
	COP	F	0.54%	0.49%	0.49%
	COTY	D	0.01%	0.0%	0.0%
	CPB	C	0.04%	0.04%	0.04%
	CPT	C	0.05%	0.03%	0.03%
	CRL	F	0.04%	0.01%	0.01%
	CSCO	B	0.82%	0.81%	0.81%
	CSX	C	0.27%	0.26%	0.26%
	CTRA	F	0.07%	0.04%	0.04%
	CTSH	B	0.16%	0.15%	0.15%
	CTVA	B	0.16%	0.09%	0.09%
	CVS	D	0.29%	0.28%	0.28%
	CVX	F	1.02%	0.95%	0.95%
	D	C	0.19%	0.11%	0.11%
	DAL	C	0.11%	0.06%	0.06%
	DD	B	0.14%	0.07%	0.07%
	DE	A	0.39%	0.4%	0.39%
	DELL	C	0.1%	0.07%	0.07%
	DFS	C	0.14%	0.06%	0.06%
	DG	F	0.07%	0.07%	0.07%
	DGX	B	0.07%	0.07%	0.07%
	DHI	C	0.22%	0.22%	0.22%
	DHR	B	0.72%	0.68%	0.68%
	DINO	F	0.03%	0.03%	0.03%
	DIS	D	0.67%	0.47%	0.47%
	DKS	D	0.05%	0.03%	0.03%
	DLR	B	0.2%	0.05%	0.05%
	DLTR	F	0.07%	0.03%	0.03%
	DOC	B	0.06%	0.06%	0.06%
	DOV	B	0.1%	0.03%	0.03%
	DOW	C	0.15%	0.08%	0.08%
	DRI	C	0.04%	0.04%	0.04%
	DTE	A	0.1%	0.1%	0.1%
	DUK	B	0.35%	0.35%	0.35%
	DVN	F	0.11%	0.1%	0.1%
	EA	D	0.16%	0.04%	0.04%
	EBAY	B	0.12%	0.08%	0.08%
	ECL	B	0.03%	0.11%	0.03%
	ED	B	0.14%	0.14%	0.14%
	EG	B	0.06%	0.07%	0.06%
	EIX	B	0.13%	0.13%	0.13%
	ELS	D	0.05%	0.02%	0.02%
	ELV	D	0.44%	0.48%	0.44%
	EMN	B	0.05%	0.05%	0.05%
	EMR	D	0.24%	0.23%	0.23%
	EOG	D	0.3%	0.28%	0.28%
	EPAM	F	0.04%	0.02%	0.02%
	EQR	C	0.11%	0.06%	0.06%
	EQT	C	0.07%	0.03%	0.03%
	ES	B	0.1%	0.09%	0.09%
	ESS	C	0.08%	0.04%	0.04%
	ETN	C	0.49%	0.22%	0.22%
	ETR	A	0.1%	0.11%	0.1%
	EVRG	B	0.05%	0.06%	0.05%
	EXC	B	0.15%	0.15%	0.15%
	EXPD	B	0.06%	0.07%	0.06%
	EXR	C	0.15%	0.09%	0.09%
	F	F	0.18%	0.16%	0.16%
	FANG	F	0.14%	0.12%	0.12%
	FCX	C	0.25%	0.25%	0.25%
	FDX	D	0.27%	0.22%	0.22%
	FE	B	0.1%	0.09%	0.09%
	FFIV	B	0.05%	0.03%	0.03%
	FIS	C	0.19%	0.18%	0.18%
	FITB	B	0.12%	0.11%	0.11%
	FNF	B	0.06%	0.06%	0.06%
	FOX	B	0.02%	0.02%	0.02%
	FOXA	B	0.04%	0.04%	0.04%
	FTV	C	0.1%	0.03%	0.03%
	GD	C	0.33%	0.29%	0.29%
	GE	C	0.6%	0.36%	0.36%
	GEHC	B	0.13%	0.08%	0.08%
	GEV	B	0.22%	0.13%	0.13%
	GILD	B	0.4%	0.4%	0.4%
	GIS	B	0.16%	0.16%	0.16%
	GLPI	C	0.05%	0.05%	0.05%
	GLW	B	0.13%	0.13%	0.13%
	GM	C	0.23%	0.21%	0.21%
	GPC	D	0.08%	0.04%	0.04%
	GPN	D	0.11%	0.07%	0.07%
	GRMN	D	0.11%	0.04%	0.04%
	GS	B	0.47%	0.62%	0.47%
	HAL	F	0.11%	0.05%	0.05%
	HBAN	B	0.09%	0.08%	0.08%
	HCA	B	0.23%	0.29%	0.23%
	HD	B	0.3%	1.49%	0.3%
	HIG	B	0.14%	0.13%	0.13%
	HII	F	0.04%	0.02%	0.02%
	HOLX	D	0.08%	0.07%	0.07%
	HON	C	0.46%	0.51%	0.46%
	HPE	C	0.1%	0.09%	0.09%
	HPQ	C	0.11%	0.13%	0.11%
	HRL	F	0.04%	0.02%	0.02%
	HST	D	0.05%	0.05%	0.05%
	HSY	D	0.1%	0.05%	0.05%
	HUM	F	0.17%	0.14%	0.14%
	IBM	B	0.74%	0.77%	0.74%
	ICE	C	0.37%	0.29%	0.29%
	IFF	A	0.11%	0.1%	0.1%
	INCY	C	0.05%	0.02%	0.02%
	INTC	D	0.38%	0.36%	0.36%
	IP	C	0.07%	0.07%	0.07%
	IPG	C	0.05%	0.04%	0.04%
	IQV	D	0.16%	0.06%	0.06%
	IRM	C	0.06%	0.06%	0.06%
	ITW	B	0.19%	0.29%	0.19%
	J	A	0.08%	0.02%	0.02%
	JBHT	D	0.06%	0.02%	0.02%
	JBL	C	0.05%	0.02%	0.02%
	JCI	B	0.17%	0.08%	0.08%
	JNJ	C	1.61%	1.52%	1.52%
	JNPR	A	0.05%	0.05%	0.05%
	JPM	D	2.59%	2.31%	2.31%
	K	A	0.08%	0.08%	0.08%
	KDP	B	0.16%	0.1%	0.1%
	KEY	C	0.06%	0.06%	0.06%
	KEYS	B	0.11%	0.06%	0.06%
	KHC	C	0.13%	0.12%	0.12%
	KIM	C	0.06%	0.02%	0.02%
	KKR	B	0.24%	0.25%	0.24%
	KMB	C	0.11%	0.12%	0.11%
	KMI	C	0.17%	0.16%	0.16%
	KMX	D	0.05%	0.02%	0.02%
	KO	B	0.48%	1.08%	0.48%
	KR	B	0.14%	0.14%	0.14%
	KVUE	B	0.17%	0.15%	0.15%
	L	D	0.06%	0.06%	0.06%
	LDOS	A	0.09%	0.05%	0.05%
	LEN	B	0.01%	0.17%	0.01%
	LEN	B	0.18%	0.17%	0.17%
	LEN	B	0.18%	0.01%	0.01%
	LEN	B	0.01%	0.01%	0.01%
	LHX	C	0.18%	0.17%	0.17%
	LIN	B	0.92%	0.72%	0.72%
	LKQ	F	0.04%	0.04%	0.04%
	LMT	A	0.33%	0.47%	0.33%
	LNG	D	0.08%	0.11%	0.08%
	LNT	A	0.06%	0.06%	0.06%
	LOW	B	0.57%	0.57%	0.57%
	LUV	C	0.07%	0.04%	0.04%
	LYB	D	0.1%	0.09%	0.09%
	MAA	C	0.08%	0.05%	0.05%
	MAR	B	0.22%	0.18%	0.18%
	MAS	B	0.07%	0.04%	0.04%
	MCD	B	0.78%	0.65%	0.65%
	MCHP	D	0.17%	0.09%	0.09%
	MCK	F	0.17%	0.18%	0.17%
	MDLZ	C	0.39%	0.38%	0.38%
	MDT	B	0.47%	0.44%	0.44%
	MET	B	0.19%	0.19%	0.19%
	MGM	D	0.04%	0.02%	0.02%
	MKC	C	0.08%	0.04%	0.04%
	MKL	C	0.06%	0.03%	0.03%
	MMC	C	0.39%	0.31%	0.31%
	MMM	B	0.24%	0.29%	0.24%
	MO	C	0.37%	0.33%	0.33%
	MOH	D	0.03%	0.03%	0.03%
	MOS	F	0.04%	0.03%	0.03%
	MPC	F	0.25%	0.22%	0.22%
	MRNA	F	0.1%	0.05%	0.05%
	MRO	D	0.07%	0.06%	0.06%
	MS	B	0.45%	0.49%	0.45%
	MSI	B	0.15%	0.19%	0.15%
	MSTR	C	0.08%	0.04%	0.04%
	MTB	C	0.11%	0.11%	0.11%
	MU	D	0.43%	0.39%	0.39%
	NDAQ	C	0.12%	0.07%	0.07%
	NEE	B	0.66%	0.65%	0.65%
	NEM	C	0.25%	0.11%	0.11%
	NI	B	0.06%	0.06%	0.06%
	NKE	D	0.15%	0.3%	0.15%
	NOC	B	0.29%	0.3%	0.29%
	NRG	B	0.04%	0.05%	0.04%
	NSC	C	0.23%	0.22%	0.22%
	NTAP	D	0.06%	0.05%	0.05%
	NTRS	C	0.07%	0.07%	0.07%
	NUE	D	0.15%	0.13%	0.13%
	NVR	B	0.11%	0.11%	0.11%
	NWS	D	0.01%	0.01%	0.01%
	NWSA	D	0.04%	0.04%	0.04%
	O	B	0.21%	0.14%	0.14%
	OC	C	0.06%	0.06%	0.06%
	OKE	C	0.22%	0.21%	0.21%
	OMC	B	0.08%	0.08%	0.08%
	ON	D	0.13%	0.07%	0.07%
	ORLY	B	0.02%	0.19%	0.02%
	OTIS	B	0.15%	0.06%	0.06%
	OVV	F	0.05%	0.04%	0.04%
	OXY	F	0.15%	0.13%	0.13%
	PAG	D	0.01%	0.01%	0.01%
	PCAR	D	0.2%	0.2%	0.2%
	PCG	C	0.17%	0.1%	0.1%
	PEG	B	0.16%	0.17%	0.16%
	PEP	D	0.2%	0.91%	0.2%
	PFE	D	0.66%	0.64%	0.64%
	PFG	B	0.08%	0.08%	0.08%
	PG	C	1.26%	1.59%	1.26%
	PGR	C	0.09%	0.27%	0.09%
	PH	B	0.31%	0.17%	0.17%
	PHM	B	0.11%	0.07%	0.07%
	PKG	B	0.07%	0.07%	0.07%
	PLD	C	0.47%	0.33%	0.33%
	PM	C	0.77%	0.72%	0.72%
	PNC	C	0.29%	0.29%	0.29%
	PNR	B	0.06%	0.02%	0.02%
	PPG	C	0.12%	0.07%	0.07%
	PPL	A	0.09%	0.09%	0.09%
	PRU	C	0.17%	0.17%	0.17%
	PSA	C	0.18%	0.11%	0.11%
	PSX	F	0.24%	0.21%	0.21%
	PYPL	B	0.3%	0.3%	0.3%
	QCOM	D	0.05%	0.73%	0.05%
	QRVO	F	0.04%	0.02%	0.02%
	RCL	B	0.1%	0.05%	0.05%
	REG	C	0.05%	0.03%	0.03%
	REGN	D	0.46%	0.47%	0.46%
	RF	B	0.09%	0.08%	0.08%
	RGA	C	0.06%	0.06%	0.06%
	RJF	C	0.09%	0.04%	0.04%
	RNR	B	0.05%	0.05%	0.05%
	ROP	C	0.24%	0.13%	0.13%
	RPM	B	0.05%	0.02%	0.02%
	RPRX	C	0.05%	0.04%	0.04%
	RRX	C	0.04%	0.02%	0.02%
	RS	D	0.07%	0.06%	0.06%
	RSG	D	0.17%	0.11%	0.11%
	RTX	B	0.66%	0.6%	0.6%
	SBUX	C	0.1%	0.27%	0.1%
	SCHW	D	0.35%	0.36%	0.35%
	SCI	C	0.04%	0.02%	0.02%
	SHW	B	0.03%	0.23%	0.03%
	SIRI	C	0.0%	0.02%	0.0%
	SJM	C	0.05%	0.05%	0.05%
	SLB	F	0.25%	0.2%	0.2%
	SNA	B	0.06%	0.04%	0.04%
	SNX	C	0.04%	0.02%	0.02%
	SO	B	0.38%	0.38%	0.38%
	SOLV	D	0.04%	0.04%	0.04%
	SPG	B	0.16%	0.2%	0.16%
	SPGI	C	0.64%	0.36%	0.36%
	SRE	B	0.21%	0.2%	0.2%
	SSNC	C	0.06%	0.06%	0.06%
	STLD	C	0.07%	0.07%	0.07%
	STT	B	0.11%	0.1%	0.1%
	STZ	C	0.15%	0.07%	0.07%
	SW	B	0.05%	0.09%	0.05%
	SWK	B	0.06%	0.03%	0.03%
	SWKS	F	0.07%	0.06%	0.06%
	SYF	C	0.08%	0.08%	0.08%
	SYK	C	0.37%	0.3%	0.3%
	T	B	0.57%	0.59%	0.57%
	TAP	D	0.04%	0.04%	0.04%
	TDY	B	0.08%	0.04%	0.04%
	TER	C	0.01%	0.04%	0.01%
	TFC	D	0.24%	0.22%	0.22%
	TFX	B	0.05%	0.03%	0.03%
	TGT	C	0.29%	0.28%	0.28%
	THC	C	0.06%	0.06%	0.06%
	TJX	C	0.22%	0.37%	0.22%
	TMO	B	0.94%	0.77%	0.77%
	TMUS	B	0.39%	0.3%	0.3%
	TOL	A	0.06%	0.04%	0.04%
	TRMB	C	0.06%	0.02%	0.02%
	TROW	C	0.09%	0.09%	0.09%
	TRV	C	0.21%	0.12%	0.12%
	TSN	D	0.07%	0.03%	0.03%
	TT	B	0.22%	0.16%	0.16%
	TXN	B	0.69%	0.72%	0.69%
	TXT	D	0.07%	0.03%	0.03%
	UAL	B	0.06%	0.07%	0.06%
	UDR	C	0.06%	0.02%	0.02%
	UHAL	B	0.0%	0.0%	0.0%
	UHAL	B	0.02%	0.02%	0.02%
	UHAL	B	0.0%	0.02%	0.0%
	UHAL	B	0.02%	0.0%	0.0%
	UHS	C	0.06%	0.03%	0.03%
	ULTA	D	0.01%	0.04%	0.01%
	UNH	C	2.03%	1.76%	1.76%
	UNM	B	0.04%	0.04%	0.04%
	UNP	D	0.33%	0.58%	0.33%
	UPS	D	0.38%	0.36%	0.36%
	URI	B	0.15%	0.1%	0.1%
	USB	C	0.3%	0.28%	0.28%
	USFD	C	0.05%	0.03%	0.03%
	UTHR	B	0.06%	0.05%	0.05%
	VICI	C	0.14%	0.13%	0.13%
	VLO	F	0.19%	0.17%	0.17%
	VLTO	B	0.06%	0.04%	0.04%
	VRTX	D	0.26%	0.25%	0.25%
	VTR	C	0.1%	0.06%	0.06%
	VTRS	D	0.06%	0.05%	0.05%
	VZ	A	0.71%	0.72%	0.71%
	WAT	B	0.03%	0.03%	0.03%
	WBA	F	0.03%	0.02%	0.02%
	WBD	D	0.08%	0.07%	0.07%
	WDC	C	0.09%	0.08%	0.08%
	WEC	B	0.12%	0.12%	0.12%
	WELL	C	0.29%	0.18%	0.18%
	WFC	D	0.82%	0.74%	0.74%
	WLK	C	0.02%	0.01%	0.01%
	WMB	C	0.22%	0.21%	0.21%
	WMT	B	1.35%	1.32%	1.32%
	WPC	C	0.05%	0.05%	0.05%
	WRB	D	0.07%	0.03%	0.03%
	WSM	C	0.03%	0.02%	0.02%
	WTRG	D	0.04%	0.03%	0.03%
	WTW	B	0.12%	0.06%	0.06%
	WY	C	0.09%	0.09%	0.09%
	XEL	B	0.14%	0.14%	0.14%
	XOM	D	2.12%	1.97%	1.97%
	ZBH	F	0.09%	0.04%	0.04%
	ZBRA	B	0.06%	0.02%	0.02%
	ZM	C	0.07%	0.06%	0.06%
	ZTS	B	0.06%	0.19%	0.06%

VONV Overweight 440 Positions Relative to ILCV

	Symbol	Grade	Weight
	AMD	C	0.33%
	EQIX	B	0.3%
	TDG	B	0.24%
	MRVL	D	0.24%
	A	C	0.17%
	AME	C	0.16%
	HWM	B	0.15%
	IR	B	0.15%
	ROST	C	0.15%
	EW	F	0.14%
	CRM	C	0.14%
	CSGP	D	0.13%
	XYL	C	0.13%
	WAB	B	0.12%
	EFX	C	0.12%
	MTD	C	0.12%
	MLM	D	0.12%
	HLT	B	0.11%
	PAYX	C	0.11%
	TTWO	D	0.11%
	PWR	B	0.11%
	ANSS	D	0.11%
	ROK	D	0.11%
	STE	B	0.1%
	VMC	C	0.1%
	FSLR	C	0.1%
	SBAC	C	0.1%
	FCNCA	D	0.1%
	CHD	C	0.1%
	RMD	C	0.1%
	SQ	D	0.09%
	HUBB	B	0.09%
	CBOE	C	0.09%
	INVH	D	0.09%
	YUM	B	0.09%
	MSCI	C	0.08%
	ILMN	D	0.08%
	WSO	C	0.07%
	SUI	C	0.07%
	BMRN	F	0.07%
	CSL	B	0.07%
	TRU	B	0.07%
	GGG	C	0.06%
	BRO	C	0.06%
	NDSN	C	0.06%
	SYY	C	0.06%
	VRSN	C	0.06%
	CDW	D	0.06%
	IEX	C	0.06%
	RBA	D	0.06%
	NVT	C	0.05%
	ITT	B	0.05%
	TECH	C	0.05%
	FTI	D	0.05%
	EWBC	C	0.05%
	CUBE	C	0.05%
	RIVN	F	0.05%
	CHRW	B	0.05%
	CW	B	0.05%
	JKHY	B	0.05%
	CLH	C	0.05%
	HOOD	C	0.05%
	IBKR	B	0.05%
	AMH	D	0.05%
	EL	D	0.05%
	HES	F	0.05%
	DCI	C	0.04%
	SF	B	0.04%
	TWLO	C	0.04%
	WAL	B	0.04%
	EVR	B	0.04%
	INGR	B	0.04%
	NYT	B	0.04%
	EGP	C	0.04%
	FTNT	B	0.04%
	MKTX	D	0.04%
	WST	D	0.04%
	HSIC	C	0.04%
	ORI	B	0.04%
	FHN	D	0.04%
	GPK	C	0.04%
	PRI	B	0.04%
	CHRD	F	0.04%
	EHC	B	0.04%
	RGLD	C	0.04%
	DPZ	D	0.04%
	TPR	A	0.04%
	FRT	C	0.04%
	ARMK	B	0.04%
	TTC	F	0.04%
	GL	D	0.04%
	OHI	C	0.04%
	PFGC	B	0.04%
	MTCH	C	0.04%
	WWD	C	0.04%
	TTEK	C	0.04%
	PNW	C	0.04%
	DOX	C	0.04%
	AFRM	D	0.04%
	QGEN	C	0.04%
	ATR	B	0.04%
	AIZ	B	0.04%
	COHR	C	0.04%
	CVNA	B	0.04%
	FDS	C	0.04%
	CACI	B	0.04%
	REXR	C	0.04%
	NTNX	D	0.04%
	CTLT	B	0.04%
	EME	B	0.04%
	IVZ	B	0.03%
	R	C	0.03%
	GME	D	0.03%
	PARA	D	0.03%
	VFC	B	0.03%
	FAF	B	0.03%
	RHI	D	0.03%
	FICO	B	0.03%
	AAL	D	0.03%
	WMS	D	0.03%
	LSTR	D	0.03%
	MAT	D	0.03%
	BIO	C	0.03%
	FLS	C	0.03%
	CGNX	F	0.03%
	BPOP	C	0.03%
	Z	C	0.03%
	LEA	D	0.03%
	RL	B	0.03%
	PB	D	0.03%
	CFR	C	0.03%
	DAR	F	0.03%
	LFUS	C	0.03%
	GWRE	B	0.03%
	SAIC	C	0.03%
	SNV	D	0.03%
	OKTA	F	0.03%
	XP	D	0.03%
	MSA	D	0.03%
	MTG	B	0.03%
	EXAS	D	0.03%
	SEIC	B	0.03%
	BFAM	C	0.03%
	G	C	0.03%
	BBWI	D	0.03%
	SOFI	D	0.03%
	KEX	C	0.03%
	SWN	C	0.03%
	NOV	F	0.03%
	SSD	C	0.03%
	OSK	F	0.03%
	PR	F	0.03%
	JAZZ	D	0.03%
	FYBR	C	0.03%
	HRB	C	0.03%
	WTFC	C	0.03%
	RRC	D	0.03%
	MTZ	C	0.03%
	AGNC	B	0.03%
	CROX	C	0.03%
	MNST	D	0.03%
	ZION	D	0.03%
	VOYA	B	0.03%
	RGEN	F	0.03%
	WCC	C	0.03%
	WEX	C	0.03%
	ADC	C	0.03%
	GNTX	D	0.03%
	WYNN	C	0.03%
	ROKU	D	0.03%
	ARW	B	0.03%
	BRBR	B	0.03%
	HLI	C	0.03%
	STAG	D	0.03%
	ACHC	D	0.03%
	BWXT	A	0.03%
	FR	C	0.03%
	MKSI	F	0.03%
	MIDD	C	0.03%
	FND	C	0.03%
	PNFP	C	0.03%
	CRBG	C	0.03%
	CMA	C	0.03%
	DAY	D	0.03%
	ELAN	D	0.03%
	CBSH	D	0.03%
	DTM	C	0.03%
	LECO	D	0.03%
	CR	B	0.03%
	JEF	C	0.03%
	ONTO	C	0.03%
	CHE	C	0.03%
	BWA	C	0.03%
	CRUS	D	0.03%
	AYI	B	0.03%
	ATI	C	0.03%
	OGE	B	0.03%
	COKE	C	0.03%
	BERY	B	0.03%
	AXTA	B	0.03%
	FCN	C	0.03%
	FMC	B	0.03%
	AA	C	0.03%
	TKO	A	0.03%
	APG	F	0.03%
	WBS	C	0.03%
	CZR	C	0.03%
	ALSN	B	0.03%
	GMED	D	0.03%
	LAD	B	0.03%
	LAMR	B	0.03%
	KNX	C	0.03%
	BRX	C	0.03%
	MHK	B	0.03%
	COLD	D	0.03%
	CIEN	B	0.03%
	TW	B	0.03%
	JLL	B	0.03%
	PTC	C	0.03%
	KBR	D	0.03%
	SKX	C	0.03%
	X	F	0.03%
	RBC	B	0.03%
	NNN	B	0.03%
	TYL	C	0.02%
	DXC	D	0.02%
	MSM	D	0.02%
	KMPR	D	0.02%
	LITE	B	0.02%
	NEU	D	0.02%
	LSXMK	D	0.02%
	W	C	0.02%
	IAC	C	0.02%
	PRGO	F	0.02%
	SITE	D	0.02%
	CPRI	D	0.02%
	DOCS	B	0.02%
	CLF	F	0.02%
	BYD	C	0.02%
	SAIA	D	0.02%
	DLB	D	0.02%
	BILL	D	0.02%
	KRC	C	0.02%
	AGO	D	0.02%
	M	F	0.02%
	CUZ	C	0.02%
	FRPT	C	0.02%
	SLGN	B	0.02%
	FLO	C	0.02%
	DBX	C	0.02%
	PSN	B	0.02%
	PII	D	0.02%
	CIVI	F	0.02%
	OLED	D	0.02%
	ASH	F	0.02%
	GAP	F	0.02%
	HOG	C	0.02%
	ALK	B	0.02%
	S	D	0.02%
	RYN	C	0.02%
	GFS	F	0.02%
	AN	C	0.02%
	OZK	F	0.02%
	WTM	F	0.02%
	EEFT	F	0.02%
	GNRC	D	0.02%
	ZG	C	0.02%
	AZO	B	0.02%
	AL	C	0.02%
	SEE	C	0.02%
	SLM	C	0.02%
	JHG	B	0.02%
	AVT	B	0.02%
	WSC	D	0.02%
	SN	B	0.02%
	IDA	B	0.02%
	OLN	D	0.02%
	MDU	B	0.02%
	XRAY	D	0.02%
	HXL	F	0.02%
	THG	C	0.02%
	COLB	B	0.02%
	UGI	B	0.02%
	WHR	C	0.02%
	FNB	D	0.02%
	BC	C	0.02%
	KD	F	0.02%
	VNT	F	0.02%
	NFG	B	0.02%
	THO	C	0.02%
	TKR	C	0.02%
	OLLI	C	0.02%
	SRCL	B	0.02%
	LBRDK	C	0.02%
	LNC	C	0.02%
	SON	D	0.02%
	AMG	C	0.02%
	OMF	D	0.02%
	GWW	B	0.02%
	WH	B	0.02%
	PVH	D	0.02%
	AGCO	D	0.02%
	DASH	B	0.02%
	H	B	0.02%
	VMI	C	0.02%
	POST	B	0.02%
	OGN	D	0.02%
	ST	D	0.02%
	COIN	F	0.02%
	GXO	D	0.02%
	ESAB	C	0.02%
	RLI	B	0.02%
	ESI	C	0.02%
	VNO	B	0.02%
	LW	D	0.02%
	MTSI	C	0.02%
	FAST	C	0.02%
	MTDR	F	0.02%
	STWD	B	0.02%
	AXS	B	0.02%
	SNDR	B	0.01%
	LYFT	D	0.01%
	CERT	F	0.01%
	WEN	C	0.01%
	TRIP	F	0.01%
	INFA	D	0.01%
	LEG	D	0.01%
	MP	C	0.01%
	UAA	C	0.01%
	REYN	C	0.01%
	BROS	D	0.01%
	PPC	D	0.01%
	AZEK	C	0.01%
	GO	F	0.01%
	ALGM	D	0.01%
	VSTS	D	0.01%
	FTRE	F	0.01%
	LPX	B	0.01%
	PSTG	F	0.01%
	SHC	C	0.01%
	IPGP	D	0.01%
	SAM	D	0.01%
	BIRK	F	0.01%
	QS	F	0.01%
	GLOB	D	0.01%
	ADTN	C	0.01%
	HAYW	C	0.01%
	EXP	B	0.01%
	KSS	D	0.01%
	BR	C	0.01%
	RCM	C	0.01%
	ETSY	D	0.01%
	JWN	C	0.01%
	HHH	C	0.01%
	CRI	D	0.01%
	BOKF	C	0.01%
	YETI	D	0.01%
	PINC	D	0.01%
	MASI	C	0.01%
	VIRT	C	0.01%
	ENOV	F	0.01%
	CWEN	A	0.01%
	BRKR	D	0.01%
	VAC	D	0.01%
	MPW	C	0.01%
	AAP	F	0.01%
	CC	D	0.01%
	COLM	C	0.01%
	AZTA	F	0.01%
	U	D	0.01%
	RKT	C	0.01%
	CNM	F	0.01%
	SPB	B	0.01%
	CLVT	D	0.01%
	PENN	D	0.01%
	IRDM	C	0.01%
	BHF	F	0.01%
	LOPE	D	0.01%
	CACC	F	0.01%
	NWL	C	0.01%
	SMG	B	0.01%
	RH	C	0.01%
	TNL	C	0.01%
	PAYC	D	0.01%
	ZI	D	0.01%
	FHB	D	0.01%
	AM	B	0.01%
	AMED	D	0.01%
	NVST	D	0.01%
	CPRT	D	0.01%
	PK	D	0.01%
	TPG	C	0.01%
	PLNT	C	0.01%
	NXST	D	0.01%
	NSA	C	0.01%
	HIW	C	0.01%
	WU	C	0.01%
	MAN	C	0.01%
	EPR	C	0.01%
	CTAS	C	0.01%
	MSGS	B	0.01%
	LCID	C	0.01%
	SPR	D	0.01%
	CNXC	F	0.01%
	HUN	C	0.01%
	DNB	D	0.01%
	AWI	B	0.01%
	ALNY	C	0.01%
	AMKR	F	0.01%
	GTES	C	0.01%
	SEG	F	0.0%
	UWMC	D	0.0%
	NFE	F	0.0%
	DJT	F	0.0%
	UI	B	0.0%
	IONS	F	0.0%
	LBRDA	C	0.0%
	PLTK	C	0.0%
	CHH	B	0.0%
	CACC	F	0.0%
	TFSL	D	0.0%
	PATH	D	0.0%
	HCP	A	0.0%
	CWEN	A	0.0%
	SEB	D	0.0%
	TXG	D	0.0%
	FIVE	D	0.0%
	CAR	D	0.0%
	LSCC	D	0.0%
	PYCR	D	0.0%
	NCNO	F	0.0%
	DDS	D	0.0%
	AMC	F	0.0%
	MTN	D	0.0%
	CNA	D	0.0%
	HAS	B	0.0%
	UA	C	0.0%
	WOLF	F	0.0%
	EXEL	C	0.0%
	DV	F	0.0%

VONV Underweight 42 Positions Relative to ILCV

	Symbol	Grade	Weight
	AAPL	C	-6.3%
	META	B	-2.05%
	GOOGL	D	-1.79%
	GOOG	D	-1.6%
	AVGO	C	-1.33%
	COST	C	-0.83%
	ORCL	B	-0.74%
	MRK	F	-0.73%
	AMT	C	-0.42%
	FI	B	-0.31%
	CME	B	-0.3%
	CRH	B	-0.25%
	LRCX	D	-0.24%
	KLAC	D	-0.24%
	NXPI	D	-0.23%
	BX	C	-0.23%
	WM	D	-0.2%
	FERG	D	-0.15%
	MCO	C	-0.13%
	TRGP	C	-0.08%
	STX	B	-0.08%
	TEL	D	-0.08%
	COR	F	-0.07%
	LH	D	-0.07%
	EQH	C	-0.05%
	VST	B	-0.05%
	FLEX	B	-0.04%
	CPNG	B	-0.04%
	POOL	C	-0.03%
	GEN	A	-0.03%
	CLX	C	-0.03%
	PINS	D	-0.03%
	DKNG	C	-0.03%
	TSCO	B	-0.03%
	RVTY	B	-0.03%
	EXPE	C	-0.03%
	DVA	B	-0.02%
	XPO	D	-0.02%
	BAH	B	-0.02%
	CPAY	B	-0.02%
	COO	C	-0.02%
	ENTG	D	-0.02%

VONV: Top Represented Industries & Keywords

Industries: Diversified Industrials Banks - Regional - US Utilities - Regulated Electric Oil & Gas E&P Software - Application Asset Management Semiconductors Business Services Specialty Retail Biotechnology Capital Markets Packaged Foods Specialty Chemicals Diagnostics & Research 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 Beverage Biotechnology Dow Jones Component Plastic

ILCV: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Diversified Industrials Oil & Gas E&P Asset Management Semiconductors Specialty Chemicals Banks - Regional - US Insurance - Property & Casualty Specialty Retail Business Services Diagnostics & Research Drug Manufacturers - Major Packaged Foods Aerospace & Defense Health Care Plans REIT - Residential Utilities - Diversified Biotechnology Capital Markets Household & Personal Products

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