VONV vs. QUS ETF Comparison

Comparison of Vanguard Russell 1000 Value ETF (VONV) to SPDR MSCI USA Quality Mix ETF (QUS)

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

QUS

SPDR MSCI USA Quality Mix ETF

QUS Description

The investment seeks to track the performance of the MSCI USA Quality Mix A-Series Index. The fund invests at least 80%, of its total assets in the securities comprising the index. The index is designed to measure the equity market performance of large-and mid-cap companies across the U.S. equity market. It aims to represent the performance of a combination of three factors: value, quality, and low volatility. It is an equal weighted combination of the following three MSCI Factor Indices in a single composite index: the MSCI USA Value Weighted Index, the MSCI USA Quality Index, and the MSCI USA Minimum Volatility Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$161.92

Average Daily Volume

15,365

Number of Holdings ^*

583

* may have additional holdings in another (foreign) market

Performance

Period	VONV	QUS
30 Days	3.51%	2.25%
60 Days	4.96%	3.15%
90 Days	7.00%	4.45%
12 Months	29.73%	29.35%

485 Overlapping Holdings

	Symbol	Grade	Weight in VONV	Weight in QUS	Overlap
	A	D	0.15%	0.11%	0.11%
	ABBV	D	0.82%	0.49%	0.49%
	ABT	B	0.78%	0.16%	0.16%
	ACGL	D	0.14%	0.38%	0.14%
	ACI	C	0.03%	0.03%	0.03%
	ACM	A	0.06%	0.01%	0.01%
	ACN	C	0.87%	1.18%	0.87%
	ADI	D	0.44%	0.14%	0.14%
	ADM	D	0.11%	0.08%	0.08%
	ADP	B	0.03%	0.54%	0.03%
	AEE	A	0.09%	0.11%	0.09%
	AEP	D	0.21%	0.19%	0.19%
	AES	F	0.05%	0.01%	0.01%
	AFG	A	0.04%	0.15%	0.04%
	AFL	B	0.23%	0.22%	0.22%
	AIG	B	0.2%	0.12%	0.12%
	AIZ	A	0.04%	0.12%	0.04%
	AJG	B	0.23%	0.46%	0.23%
	AKAM	D	0.06%	0.14%	0.06%
	ALB	C	0.04%	0.02%	0.02%
	ALGN	D	0.03%	0.01%	0.01%
	ALL	A	0.17%	0.06%	0.06%
	ALLE	D	0.05%	0.04%	0.04%
	ALLY	C	0.03%	0.03%	0.03%
	ALNY	D	0.02%	0.07%	0.02%
	AMAT	F	0.05%	0.48%	0.05%
	AMCR	D	0.06%	0.02%	0.02%
	AMD	F	0.32%	0.06%	0.06%
	AME	A	0.17%	0.02%	0.02%
	AMGN	D	0.15%	0.27%	0.15%
	AMH	D	0.05%	0.01%	0.01%
	AMP	A	0.02%	0.04%	0.02%
	ANSS	B	0.11%	0.01%	0.01%
	AON	A	0.29%	0.21%	0.21%
	AOS	F	0.04%	0.03%	0.03%
	APA	D	0.03%	0.05%	0.03%
	APD	A	0.28%	0.05%	0.05%
	APH	A	0.13%	0.71%	0.13%
	APO	B	0.08%	0.03%	0.03%
	APTV	D	0.06%	0.02%	0.02%
	ARE	D	0.08%	0.02%	0.02%
	ATO	A	0.08%	0.04%	0.04%
	AVB	B	0.13%	0.02%	0.02%
	AVTR	F	0.06%	0.01%	0.01%
	AVY	D	0.04%	0.01%	0.01%
	AWK	D	0.11%	0.02%	0.02%
	AXP	A	0.38%	0.11%	0.11%
	AZO	C	0.02%	0.36%	0.02%
	BA	F	0.34%	0.02%	0.02%
	BAC	A	1.14%	0.69%	0.69%
	BALL	D	0.07%	0.02%	0.02%
	BAX	D	0.07%	0.02%	0.02%
	BBWI	D	0.03%	0.01%	0.01%
	BBY	D	0.08%	0.09%	0.08%
	BDX	F	0.27%	0.24%	0.24%
	BEN	C	0.02%	0.01%	0.01%
	BG	F	0.05%	0.05%	0.05%
	BIIB	F	0.1%	0.02%	0.02%
	BIO	D	0.03%	0.01%	0.01%
	BK	A	0.22%	0.09%	0.09%
	BKNG	A	0.04%	0.04%	0.04%
	BKR	B	0.15%	0.04%	0.04%
	BLDR	D	0.07%	0.08%	0.07%
	BLK	C	0.58%	0.46%	0.46%
	BMRN	D	0.05%	0.08%	0.05%
	BMY	B	0.45%	0.34%	0.34%
	BR	A	0.01%	0.03%	0.01%
	BRK.A	B	3.3%	1.1%	1.1%
	BRO	B	0.06%	0.01%	0.01%
	BSX	B	0.49%	0.04%	0.04%
	BXP	D	0.05%	0.01%	0.01%
	C	A	0.49%	0.45%	0.45%
	CAG	D	0.06%	0.02%	0.02%
	CAH	B	0.04%	0.12%	0.04%
	CARR	D	0.2%	0.04%	0.04%
	CAT	B	0.63%	0.63%	0.63%
	CB	C	0.46%	0.65%	0.46%
	CBOE	B	0.09%	0.29%	0.09%
	CBRE	B	0.16%	0.05%	0.05%
	CCI	D	0.19%	0.03%	0.03%
	CCK	C	0.04%	0.02%	0.02%
	CCL	B	0.09%	0.01%	0.01%
	CDW	F	0.05%	0.19%	0.05%
	CE	F	0.04%	0.01%	0.01%
	CEG	D	0.28%	0.03%	0.03%
	CF	B	0.06%	0.03%	0.03%
	CFG	B	0.08%	0.07%	0.07%
	CG	A	0.04%	0.01%	0.01%
	CHD	B	0.1%	0.14%	0.1%
	CHRD	D	0.03%	0.01%	0.01%
	CHRW	C	0.05%	0.02%	0.02%
	CHTR	C	0.12%	0.09%	0.09%
	CI	F	0.32%	0.24%	0.24%
	CINF	A	0.09%	0.03%	0.03%
	CL	D	0.14%	0.17%	0.14%
	CMCSA	B	0.67%	0.42%	0.42%
	CME	A	0.32%	0.23%	0.23%
	CMI	A	0.18%	0.17%	0.17%
	CMS	C	0.08%	0.09%	0.08%
	CNC	D	0.13%	0.08%	0.08%
	CNH	C	0.04%	0.03%	0.03%
	CNP	B	0.07%	0.02%	0.02%
	COF	B	0.25%	0.17%	0.17%
	COIN	C	0.02%	0.01%	0.01%
	COP	C	0.51%	0.17%	0.17%
	CPB	D	0.04%	0.12%	0.04%
	CPRT	A	0.01%	0.14%	0.01%
	CPT	B	0.05%	0.01%	0.01%
	CRBG	B	0.03%	0.02%	0.02%
	CRL	C	0.04%	0.01%	0.01%
	CRM	B	0.17%	0.12%	0.12%
	CSCO	B	0.89%	1.34%	0.89%
	CSGP	D	0.12%	0.01%	0.01%
	CSL	C	0.07%	0.01%	0.01%
	CSX	B	0.26%	0.05%	0.05%
	CTAS	B	0.01%	0.23%	0.01%
	CTLT	B	0.04%	0.01%	0.01%
	CTRA	B	0.07%	0.03%	0.03%
	CTSH	B	0.15%	0.39%	0.15%
	CTVA	C	0.17%	0.16%	0.16%
	CVS	D	0.29%	0.29%	0.29%
	CVX	A	1.03%	0.55%	0.55%
	D	C	0.2%	0.14%	0.14%
	DAL	C	0.15%	0.01%	0.01%
	DASH	A	0.03%	0.01%	0.01%
	DAY	B	0.04%	0.0%	0.0%
	DD	D	0.14%	0.04%	0.04%
	DE	A	0.41%	0.1%	0.1%
	DELL	C	0.11%	0.06%	0.06%
	DFS	B	0.15%	0.07%	0.07%
	DG	F	0.07%	0.02%	0.02%
	DGX	A	0.07%	0.06%	0.06%
	DHI	D	0.2%	0.19%	0.19%
	DHR	F	0.63%	0.09%	0.09%
	DINO	D	0.02%	0.02%	0.02%
	DIS	B	0.71%	0.17%	0.17%
	DKS	C	0.04%	0.01%	0.01%
	DLR	B	0.23%	0.04%	0.04%
	DLTR	F	0.05%	0.02%	0.02%
	DOC	D	0.06%	0.01%	0.01%
	DOV	A	0.1%	0.02%	0.02%
	DOW	F	0.14%	0.06%	0.06%
	DPZ	C	0.04%	0.07%	0.04%
	DRI	B	0.04%	0.02%	0.02%
	DTE	C	0.1%	0.1%	0.1%
	DUK	C	0.36%	0.6%	0.36%
	DVN	F	0.1%	0.04%	0.04%
	EA	A	0.16%	0.31%	0.16%
	EBAY	D	0.12%	0.02%	0.02%
	ECL	D	0.03%	0.02%	0.02%
	ED	D	0.14%	0.42%	0.14%
	EFX	F	0.1%	0.01%	0.01%
	EG	C	0.05%	0.18%	0.05%
	EIX	B	0.13%	0.04%	0.04%
	EL	F	0.04%	0.01%	0.01%
	ELS	C	0.05%	0.0%	0.0%
	ELV	F	0.32%	0.29%	0.29%
	EME	C	0.05%	0.08%	0.05%
	EMN	D	0.05%	0.02%	0.02%
	EMR	A	0.25%	0.05%	0.05%
	EOG	A	0.28%	0.15%	0.15%
	EPAM	C	0.04%	0.04%	0.04%
	EQIX	A	0.33%	0.02%	0.02%
	EQR	B	0.11%	0.02%	0.02%
	EQT	B	0.08%	0.03%	0.03%
	ES	D	0.09%	0.03%	0.03%
	ESS	B	0.07%	0.01%	0.01%
	ETN	A	0.53%	0.05%	0.05%
	ETR	B	0.13%	0.05%	0.05%
	EVRG	A	0.05%	0.02%	0.02%
	EW	C	0.13%	0.12%	0.12%
	EXAS	D	0.03%	0.0%	0.0%
	EXC	C	0.16%	0.06%	0.06%
	EXPD	D	0.06%	0.06%	0.06%
	EXR	D	0.14%	0.02%	0.02%
	F	C	0.16%	0.16%	0.16%
	FANG	D	0.13%	0.22%	0.13%
	FAST	B	0.03%	0.15%	0.03%
	FBIN	D	0.04%	0.01%	0.01%
	FCNCA	A	0.09%	0.34%	0.09%
	FCX	D	0.26%	0.04%	0.04%
	FDS	B	0.04%	0.05%	0.04%
	FDX	B	0.25%	0.12%	0.12%
	FE	C	0.1%	0.02%	0.02%
	FFIV	B	0.05%	0.23%	0.05%
	FI	A	0.31%	0.31%	0.31%
	FICO	B	0.03%	0.2%	0.03%
	FIS	C	0.2%	0.03%	0.03%
	FITB	A	0.12%	0.06%	0.06%
	FNF	B	0.06%	0.02%	0.02%
	FOX	A	0.02%	0.01%	0.01%
	FOXA	B	0.04%	0.02%	0.02%
	FSLR	F	0.08%	0.03%	0.03%
	FTNT	C	0.04%	0.01%	0.01%
	FTV	C	0.1%	0.02%	0.02%
	GD	F	0.32%	0.07%	0.07%
	GE	D	0.59%	0.11%	0.11%
	GEHC	F	0.14%	0.03%	0.03%
	GEN	B	0.06%	0.13%	0.06%
	GEV	B	0.33%	0.05%	0.05%
	GGG	B	0.05%	0.05%	0.05%
	GILD	C	0.44%	0.43%	0.43%
	GIS	D	0.15%	0.25%	0.15%
	GLPI	C	0.05%	0.01%	0.01%
	GLW	B	0.15%	0.14%	0.14%
	GM	B	0.23%	0.32%	0.23%
	GPC	D	0.06%	0.02%	0.02%
	GPN	B	0.11%	0.04%	0.04%
	GRMN	B	0.12%	0.2%	0.12%
	GS	A	0.48%	0.3%	0.3%
	GWW	B	0.02%	0.2%	0.02%
	H	B	0.02%	0.0%	0.0%
	HAL	C	0.1%	0.03%	0.03%
	HBAN	A	0.09%	0.06%	0.06%
	HCA	F	0.2%	0.06%	0.06%
	HD	A	0.32%	0.35%	0.32%
	HES	B	0.05%	0.02%	0.02%
	HIG	B	0.13%	0.09%	0.09%
	HII	D	0.03%	0.01%	0.01%
	HLT	A	0.11%	0.01%	0.01%
	HOLX	D	0.07%	0.07%	0.07%
	HON	B	0.45%	0.53%	0.45%
	HOOD	B	0.06%	0.01%	0.01%
	HPE	B	0.1%	0.06%	0.06%
	HPQ	B	0.11%	0.07%	0.07%
	HRL	D	0.04%	0.08%	0.04%
	HSIC	B	0.04%	0.01%	0.01%
	HST	C	0.05%	0.01%	0.01%
	HSY	F	0.09%	0.18%	0.09%
	HUBB	B	0.09%	0.07%	0.07%
	HUM	C	0.12%	0.2%	0.12%
	HWM	A	0.15%	0.01%	0.01%
	IBM	C	0.76%	0.67%	0.67%
	ICE	C	0.35%	0.14%	0.14%
	IEX	B	0.07%	0.05%	0.05%
	IFF	D	0.1%	0.02%	0.02%
	ILMN	D	0.09%	0.01%	0.01%
	INCY	C	0.04%	0.2%	0.04%
	INTC	D	0.37%	0.18%	0.18%
	INVH	D	0.08%	0.01%	0.01%
	IP	B	0.08%	0.04%	0.04%
	IPG	D	0.04%	0.01%	0.01%
	IQV	D	0.13%	0.02%	0.02%
	IR	B	0.15%	0.02%	0.02%
	IRM	D	0.06%	0.01%	0.01%
	ITW	B	0.19%	0.27%	0.19%
	J	F	0.07%	0.02%	0.02%
	JBHT	C	0.06%	0.05%	0.05%
	JBL	B	0.05%	0.03%	0.03%
	JCI	C	0.17%	0.05%	0.05%
	JKHY	D	0.05%	0.04%	0.04%
	JNJ	D	1.54%	1.64%	1.54%
	JNPR	F	0.05%	0.17%	0.05%
	JPM	A	2.55%	1.06%	1.06%
	K	A	0.08%	0.29%	0.08%
	KDP	D	0.15%	0.23%	0.15%
	KEY	B	0.06%	0.04%	0.04%
	KEYS	A	0.1%	0.26%	0.1%
	KHC	F	0.12%	0.18%	0.12%
	KIM	A	0.06%	0.02%	0.02%
	KKR	A	0.27%	0.04%	0.04%
	KMB	D	0.11%	0.1%	0.1%
	KMI	A	0.19%	0.07%	0.07%
	KMX	B	0.04%	0.03%	0.03%
	KNX	B	0.03%	0.04%	0.03%
	KO	D	0.43%	0.81%	0.43%
	KR	B	0.15%	0.31%	0.15%
	KVUE	A	0.18%	0.04%	0.04%
	L	A	0.06%	0.12%	0.06%
	LDOS	C	0.1%	0.02%	0.02%
	LEN	D	0.16%	0.06%	0.06%
	LEN	D	0.01%	0.06%	0.01%
	LH	C	0.08%	0.03%	0.03%
	LHX	C	0.19%	0.04%	0.04%
	LIN	D	0.88%	0.15%	0.15%
	LKQ	D	0.04%	0.02%	0.02%
	LMT	D	0.32%	0.72%	0.32%
	LNG	B	0.09%	0.05%	0.05%
	LNT	A	0.06%	0.05%	0.05%
	LOW	D	0.6%	0.13%	0.13%
	LUV	C	0.07%	0.01%	0.01%
	LW	C	0.03%	0.03%	0.03%
	LYB	F	0.09%	0.04%	0.04%
	MAA	B	0.07%	0.01%	0.01%
	MAR	B	0.24%	0.02%	0.02%
	MAS	D	0.07%	0.01%	0.01%
	MCD	D	0.79%	0.5%	0.5%
	MCHP	D	0.16%	0.1%	0.1%
	MCK	B	0.15%	0.61%	0.15%
	MDLZ	F	0.37%	0.22%	0.22%
	MDT	D	0.46%	0.15%	0.15%
	MET	A	0.18%	0.09%	0.09%
	MGM	D	0.03%	0.01%	0.01%
	MKC	D	0.08%	0.01%	0.01%
	MKL	A	0.06%	0.15%	0.06%
	MKTX	D	0.04%	0.03%	0.03%
	MLM	B	0.14%	0.02%	0.02%
	MMC	B	0.37%	0.69%	0.37%
	MMM	D	0.23%	0.28%	0.23%
	MNST	C	0.03%	0.12%	0.03%
	MO	A	0.37%	0.07%	0.07%
	MOH	F	0.03%	0.13%	0.03%
	MOS	F	0.03%	0.03%	0.03%
	MPC	D	0.21%	0.32%	0.21%
	MRNA	F	0.07%	0.01%	0.01%
	MRO	B	0.06%	0.04%	0.04%
	MRVL	B	0.25%	0.02%	0.02%
	MS	A	0.51%	0.21%	0.21%
	MSCI	C	0.07%	0.01%	0.01%
	MSI	B	0.16%	0.63%	0.16%
	MSTR	C	0.14%	0.0%	0.0%
	MTB	A	0.13%	0.08%	0.08%
	MTCH	D	0.04%	0.01%	0.01%
	MTD	D	0.11%	0.01%	0.01%
	MU	D	0.44%	0.07%	0.07%
	NDAQ	A	0.12%	0.02%	0.02%
	NDSN	B	0.06%	0.01%	0.01%
	NEE	D	0.65%	0.1%	0.1%
	NEM	D	0.21%	0.18%	0.18%
	NI	A	0.06%	0.02%	0.02%
	NKE	D	0.14%	0.28%	0.14%
	NOC	D	0.28%	0.55%	0.28%
	NRG	B	0.04%	0.03%	0.03%
	NSC	B	0.23%	0.05%	0.05%
	NTAP	C	0.05%	0.16%	0.05%
	NTRS	A	0.08%	0.03%	0.03%
	NUE	C	0.14%	0.07%	0.07%
	NVR	D	0.1%	0.11%	0.1%
	NWSA	B	0.04%	0.01%	0.01%
	O	D	0.21%	0.04%	0.04%
	OC	A	0.06%	0.02%	0.02%
	OKE	A	0.23%	0.05%	0.05%
	OKTA	C	0.03%	0.0%	0.0%
	OMC	C	0.08%	0.07%	0.07%
	ON	D	0.12%	0.02%	0.02%
	ORLY	B	0.02%	0.26%	0.02%
	OTIS	C	0.16%	0.04%	0.04%
	OVV	B	0.04%	0.03%	0.03%
	OXY	D	0.13%	0.1%	0.1%
	PARA	C	0.03%	0.03%	0.03%
	PAYC	B	0.02%	0.03%	0.02%
	PAYX	C	0.11%	0.16%	0.11%
	PCAR	B	0.21%	0.06%	0.06%
	PCG	A	0.17%	0.06%	0.06%
	PEG	A	0.18%	0.04%	0.04%
	PEP	F	0.19%	1.01%	0.19%
	PFE	D	0.64%	0.33%	0.33%
	PFG	D	0.08%	0.03%	0.03%
	PG	A	1.21%	0.59%	0.59%
	PGR	A	0.09%	0.65%	0.09%
	PH	A	0.32%	0.04%	0.04%
	PHM	D	0.11%	0.11%	0.11%
	PKG	A	0.08%	0.09%	0.08%
	PLD	D	0.42%	0.08%	0.08%
	PM	B	0.83%	0.11%	0.11%
	PNC	B	0.3%	0.17%	0.17%
	PNR	A	0.07%	0.01%	0.01%
	PPG	F	0.12%	0.02%	0.02%
	PPL	B	0.1%	0.03%	0.03%
	PRU	A	0.18%	0.08%	0.08%
	PSA	D	0.18%	0.14%	0.14%
	PSTG	D	0.01%	0.0%	0.0%
	PSX	C	0.2%	0.14%	0.14%
	PTC	A	0.03%	0.18%	0.03%
	PWR	A	0.12%	0.02%	0.02%
	PYPL	B	0.32%	0.08%	0.08%
	QCOM	F	0.05%	0.55%	0.05%
	QRVO	F	0.03%	0.01%	0.01%
	RCL	A	0.13%	0.01%	0.01%
	REG	B	0.05%	0.01%	0.01%
	REGN	F	0.32%	0.25%	0.25%
	RF	A	0.09%	0.06%	0.06%
	RIVN	F	0.03%	0.01%	0.01%
	RJF	A	0.11%	0.03%	0.03%
	RMD	C	0.1%	0.09%	0.09%
	ROK	B	0.11%	0.1%	0.1%
	ROKU	D	0.03%	0.0%	0.0%
	ROP	B	0.23%	0.46%	0.23%
	ROST	C	0.14%	0.03%	0.03%
	RPM	A	0.05%	0.01%	0.01%
	RPRX	D	0.04%	0.01%	0.01%
	RS	B	0.07%	0.03%	0.03%
	RSG	A	0.16%	0.54%	0.16%
	RTX	C	0.64%	0.18%	0.18%
	RVTY	F	0.06%	0.01%	0.01%
	SBAC	D	0.1%	0.01%	0.01%
	SBUX	A	0.1%	0.06%	0.06%
	SCHW	B	0.38%	0.07%	0.07%
	SEIC	B	0.03%	0.03%	0.03%
	SHW	A	0.03%	0.26%	0.03%
	SJM	D	0.05%	0.02%	0.02%
	SLB	C	0.23%	0.05%	0.05%
	SNA	A	0.07%	0.06%	0.06%
	SO	D	0.4%	0.54%	0.4%
	SOLV	C	0.04%	0.06%	0.04%
	SPG	B	0.16%	0.03%	0.03%
	SPGI	C	0.6%	0.07%	0.07%
	SQ	B	0.09%	0.03%	0.03%
	SRE	A	0.21%	0.06%	0.06%
	SSNC	B	0.06%	0.02%	0.02%
	STE	F	0.09%	0.01%	0.01%
	STLD	B	0.08%	0.04%	0.04%
	STT	A	0.11%	0.06%	0.06%
	STZ	D	0.15%	0.02%	0.02%
	SUI	D	0.07%	0.01%	0.01%
	SW	A	0.11%	0.03%	0.03%
	SWK	D	0.06%	0.02%	0.02%
	SWKS	F	0.06%	0.05%	0.05%
	SYF	B	0.09%	0.06%	0.06%
	SYK	C	0.36%	0.05%	0.05%
	SYY	B	0.06%	0.05%	0.05%
	T	A	0.65%	0.69%	0.65%
	TAP	C	0.04%	0.02%	0.02%
	TDG	D	0.23%	0.01%	0.01%
	TDY	B	0.08%	0.21%	0.08%
	TECH	D	0.05%	0.0%	0.0%
	TER	D	0.01%	0.04%	0.01%
	TFC	A	0.23%	0.16%	0.16%
	TFX	F	0.04%	0.01%	0.01%
	TGT	F	0.28%	0.1%	0.1%
	TJX	A	0.21%	0.56%	0.21%
	TMO	F	0.84%	0.1%	0.1%
	TMUS	B	0.43%	0.78%	0.43%
	TRMB	B	0.06%	0.01%	0.01%
	TROW	B	0.1%	0.09%	0.09%
	TRU	D	0.07%	0.01%	0.01%
	TRV	B	0.22%	0.47%	0.22%
	TSN	B	0.07%	0.3%	0.07%
	TT	A	0.22%	0.26%	0.22%
	TTC	D	0.03%	0.03%	0.03%
	TTWO	A	0.11%	0.01%	0.01%
	TW	A	0.04%	0.07%	0.04%
	TWLO	A	0.04%	0.01%	0.01%
	TXN	C	0.65%	1.06%	0.65%
	TXT	D	0.06%	0.02%	0.02%
	TYL	B	0.02%	0.01%	0.01%
	UDR	B	0.06%	0.01%	0.01%
	UHAL	D	0.02%	0.01%	0.01%
	UHAL	D	0.0%	0.01%	0.0%
	UHS	D	0.05%	0.02%	0.02%
	ULTA	F	0.01%	0.08%	0.01%
	UNH	C	1.94%	2.21%	1.94%
	UNP	C	0.3%	0.08%	0.08%
	UPS	C	0.39%	0.11%	0.11%
	URI	B	0.16%	0.04%	0.04%
	USB	A	0.3%	0.16%	0.16%
	UTHR	C	0.07%	0.1%	0.07%
	VICI	C	0.13%	0.04%	0.04%
	VLO	C	0.17%	0.15%	0.15%
	VLTO	D	0.06%	0.08%	0.06%
	VMC	B	0.11%	0.02%	0.02%
	VRSN	F	0.06%	0.22%	0.06%
	VRTX	F	0.25%	0.57%	0.25%
	VTR	C	0.11%	0.02%	0.02%
	VTRS	A	0.06%	0.05%	0.05%
	VZ	C	0.71%	0.81%	0.71%
	WAB	B	0.13%	0.02%	0.02%
	WAT	B	0.03%	0.07%	0.03%
	WBA	F	0.03%	0.06%	0.03%
	WBD	C	0.08%	0.11%	0.08%
	WDC	D	0.09%	0.02%	0.02%
	WEC	A	0.12%	0.29%	0.12%
	WELL	A	0.33%	0.04%	0.04%
	WFC	A	0.91%	0.5%	0.5%
	WLK	D	0.02%	0.01%	0.01%
	WMB	A	0.25%	0.15%	0.15%
	WMT	A	1.42%	0.94%	0.94%
	WPC	D	0.05%	0.01%	0.01%
	WRB	A	0.07%	0.12%	0.07%
	WSM	B	0.03%	0.06%	0.03%
	WSO	A	0.07%	0.06%	0.06%
	WST	C	0.04%	0.06%	0.04%
	WTRG	B	0.04%	0.01%	0.01%
	WTW	B	0.12%	0.16%	0.12%
	WY	D	0.09%	0.03%	0.03%
	WYNN	D	0.04%	0.0%	0.0%
	XEL	A	0.15%	0.2%	0.15%
	XOM	B	2.1%	0.81%	0.81%
	XYL	D	0.12%	0.01%	0.01%
	YUM	B	0.09%	0.19%	0.09%
	Z	A	0.03%	0.01%	0.01%
	ZBH	C	0.09%	0.02%	0.02%
	ZBRA	B	0.06%	0.01%	0.01%
	ZM	B	0.08%	0.01%	0.01%
	ZTS	D	0.06%	0.25%	0.06%

VONV Overweight 357 Positions Relative to QUS

	Symbol	Grade	Weight
	UAL	A	0.1%
	CVNA	B	0.07%
	RGA	A	0.06%
	USFD	A	0.06%
	THC	D	0.06%
	TOL	B	0.06%
	RBA	A	0.06%
	IBKR	A	0.06%
	FTI	A	0.05%
	ITT	A	0.05%
	SCI	B	0.05%
	CLH	B	0.05%
	UNM	A	0.05%
	CASY	A	0.05%
	CACI	D	0.05%
	COHR	B	0.05%
	NVT	B	0.05%
	CW	B	0.05%
	RNR	C	0.05%
	EWBC	A	0.05%
	DTM	B	0.04%
	FYBR	D	0.04%
	DCI	B	0.04%
	BWXT	B	0.04%
	WBS	A	0.04%
	JLL	D	0.04%
	WAL	B	0.04%
	NYT	C	0.04%
	LAD	A	0.04%
	FRT	B	0.04%
	CIEN	B	0.04%
	REXR	F	0.04%
	AYI	B	0.04%
	ALSN	B	0.04%
	GL	B	0.04%
	QGEN	D	0.04%
	FHN	A	0.04%
	EVR	B	0.04%
	PRI	A	0.04%
	RGLD	C	0.04%
	SOFI	A	0.04%
	EHC	B	0.04%
	WWD	B	0.04%
	ARMK	B	0.04%
	PNW	B	0.04%
	AA	B	0.04%
	DOX	D	0.04%
	AFRM	B	0.04%
	TTEK	F	0.04%
	BLD	D	0.04%
	SF	B	0.04%
	OHI	C	0.04%
	PFGC	B	0.04%
	CUBE	D	0.04%
	NTNX	A	0.04%
	TPR	B	0.04%
	RRX	B	0.04%
	ATR	B	0.04%
	BJ	A	0.04%
	LSTR	D	0.03%
	MKSI	C	0.03%
	ARW	D	0.03%
	MTSI	B	0.03%
	IVZ	B	0.03%
	WEX	D	0.03%
	XP	F	0.03%
	FAF	A	0.03%
	RGEN	D	0.03%
	MTG	C	0.03%
	ATI	D	0.03%
	SIRI	C	0.03%
	WMS	D	0.03%
	BFAM	D	0.03%
	CGNX	C	0.03%
	PB	A	0.03%
	OSK	B	0.03%
	KEX	C	0.03%
	HRB	D	0.03%
	G	B	0.03%
	STAG	F	0.03%
	JAZZ	B	0.03%
	COKE	C	0.03%
	RHI	B	0.03%
	FCN	D	0.03%
	MAT	D	0.03%
	AGNC	D	0.03%
	FND	C	0.03%
	MIDD	C	0.03%
	SSD	D	0.03%
	FR	C	0.03%
	FLS	B	0.03%
	ESAB	B	0.03%
	GNTX	C	0.03%
	PR	B	0.03%
	MHK	D	0.03%
	GXO	B	0.03%
	LBRDK	C	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%
	CBSH	A	0.03%
	CFR	B	0.03%
	ZION	B	0.03%
	AR	B	0.03%
	WTFC	A	0.03%
	BWA	D	0.03%
	LECO	B	0.03%
	CR	A	0.03%
	MTZ	B	0.03%
	APG	B	0.03%
	NNN	D	0.03%
	RL	B	0.03%
	RBC	A	0.03%
	TKO	B	0.03%
	OGE	B	0.03%
	PNFP	B	0.03%
	JEF	A	0.03%
	BERY	B	0.03%
	BRX	A	0.03%
	FMC	D	0.03%
	VOYA	B	0.03%
	AAL	B	0.03%
	KBR	F	0.03%
	HLI	B	0.03%
	GMED	A	0.03%
	EGP	F	0.03%
	GWRE	A	0.03%
	GME	C	0.03%
	AXTA	A	0.03%
	WCC	B	0.03%
	GPK	C	0.03%
	CMA	A	0.03%
	BRBR	A	0.03%
	LAMR	D	0.03%
	CZR	F	0.03%
	ORI	A	0.03%
	X	C	0.03%
	SNX	C	0.03%
	INGR	B	0.03%
	KMPR	B	0.02%
	MSGS	A	0.02%
	RH	B	0.02%
	HOG	D	0.02%
	ACHC	F	0.02%
	AN	C	0.02%
	SITE	D	0.02%
	GTES	A	0.02%
	W	F	0.02%
	AWI	A	0.02%
	CLF	F	0.02%
	FLO	D	0.02%
	OLED	D	0.02%
	GAP	C	0.02%
	M	D	0.02%
	FRPT	B	0.02%
	ASH	D	0.02%
	EEFT	B	0.02%
	SLGN	A	0.02%
	LITE	B	0.02%
	DLB	B	0.02%
	TPG	A	0.02%
	DBX	B	0.02%
	AGO	B	0.02%
	WSC	D	0.02%
	WTM	A	0.02%
	BILL	A	0.02%
	RYN	D	0.02%
	OZK	B	0.02%
	XRAY	F	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%
	HXL	D	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%
	SEE	C	0.02%
	UGI	A	0.02%
	ZG	A	0.02%
	SON	D	0.02%
	ST	F	0.02%
	FNB	A	0.02%
	KD	B	0.02%
	IDA	A	0.02%
	CROX	D	0.02%
	THO	B	0.02%
	THG	A	0.02%
	JHG	A	0.02%
	TKR	D	0.02%
	POST	C	0.02%
	SAIA	B	0.02%
	BC	C	0.02%
	LEA	D	0.02%
	PVH	C	0.02%
	WHR	B	0.02%
	NFG	A	0.02%
	OMF	A	0.02%
	OLLI	D	0.02%
	MTDR	B	0.02%
	BPOP	B	0.02%
	SRCL	C	0.02%
	VNT	B	0.02%
	MDU	D	0.02%
	CRUS	D	0.02%
	LNC	B	0.02%
	S	B	0.02%
	COLB	A	0.02%
	LFUS	F	0.02%
	ALK	C	0.02%
	ESI	A	0.02%
	AXS	A	0.02%
	RLI	B	0.02%
	AMG	B	0.02%
	NOV	C	0.02%
	MSA	D	0.02%
	STWD	C	0.02%
	WH	B	0.02%
	DAR	C	0.02%
	VMI	B	0.02%
	ELAN	D	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%
	LYFT	C	0.01%
	REYN	D	0.01%
	EXEL	B	0.01%
	LEG	F	0.01%
	TRIP	F	0.01%
	WOLF	F	0.01%
	WEN	D	0.01%
	INFA	D	0.01%
	VSTS	C	0.01%
	BIRK	D	0.01%
	PPC	C	0.01%
	QS	F	0.01%
	UAA	C	0.01%
	AZEK	A	0.01%
	LPX	B	0.01%
	CRI	D	0.01%
	PINC	B	0.01%
	CNXC	F	0.01%
	KSS	F	0.01%
	SAM	C	0.01%
	ETSY	D	0.01%
	YETI	C	0.01%
	AAP	C	0.01%
	AZTA	D	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%
	ADTN	A	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%
	CWEN	C	0.01%
	CC	C	0.01%
	VIRT	B	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%
	CNM	D	0.01%
	BHF	B	0.01%
	MAN	D	0.01%
	MASI	A	0.01%
	PENN	C	0.01%
	WU	D	0.01%
	AM	A	0.01%
	AMED	F	0.01%
	IRDM	D	0.01%
	PLNT	A	0.01%
	FHB	A	0.01%
	TNL	A	0.01%
	SPR	D	0.01%
	U	C	0.01%
	NXST	C	0.01%
	NWS	B	0.01%
	EPR	D	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%
	UWMC	D	0.0%
	SEG	B	0.0%
	NFE	D	0.0%
	IONS	F	0.0%
	TXG	F	0.0%
	PLTK	B	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%
	CWEN	C	0.0%
	DJT	C	0.0%
	CAR	C	0.0%
	LSCC	D	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 100 Positions Relative to QUS

	Symbol	Grade	Weight
	AAPL	C	-3.24%
	NVDA	C	-2.76%
	MSFT	F	-2.7%
	META	D	-2.32%
	LLY	F	-1.92%
	V	A	-1.91%
	MA	C	-1.69%
	COST	B	-1.31%
	GOOGL	C	-1.2%
	GOOG	C	-1.12%
	ADBE	C	-0.71%
	AMZN	C	-0.69%
	AVGO	D	-0.58%
	WCN	A	-0.53%
	ORCL	B	-0.53%
	WM	A	-0.52%
	MRK	F	-0.46%
	ANET	C	-0.39%
	COR	B	-0.35%
	GDDY	A	-0.34%
	PANW	C	-0.32%
	LRCX	F	-0.3%
	CDNS	B	-0.29%
	KLAC	D	-0.29%
	SNPS	B	-0.28%
	TSLA	B	-0.28%
	NOW	A	-0.27%
	CMG	B	-0.22%
	MCO	B	-0.21%
	BAH	F	-0.2%
	UBER	D	-0.18%
	ERIE	D	-0.17%
	ROL	B	-0.17%
	ADSK	A	-0.16%
	VRSK	A	-0.15%
	WDAY	B	-0.15%
	NFLX	A	-0.14%
	IT	C	-0.13%
	ODFL	B	-0.13%
	LULU	C	-0.12%
	IDXX	F	-0.12%
	NBIX	C	-0.11%
	TPL	A	-0.09%
	DECK	A	-0.09%
	TSCO	D	-0.09%
	HUBS	A	-0.08%
	VEEV	C	-0.08%
	STX	D	-0.07%
	MANH	D	-0.07%
	MELI	D	-0.07%
	MPWR	F	-0.07%
	LPLA	A	-0.07%
	CRWD	B	-0.06%
	BX	A	-0.05%
	ISRG	A	-0.04%
	AMT	D	-0.04%
	INTU	C	-0.04%
	POOL	C	-0.04%
	SMCI	F	-0.03%
	NXPI	D	-0.03%
	TRGP	B	-0.03%
	APP	B	-0.02%
	CPAY	A	-0.02%
	ABNB	C	-0.02%
	EXPE	B	-0.02%
	EQH	B	-0.02%
	VST	B	-0.02%
	ENPH	F	-0.02%
	TTD	B	-0.01%
	ENTG	D	-0.01%
	LII	A	-0.01%
	LVS	C	-0.01%
	LYV	A	-0.01%
	VRT	B	-0.01%
	PLTR	B	-0.01%
	ARES	A	-0.01%
	DVA	B	-0.01%
	CLX	B	-0.01%
	BURL	A	-0.01%
	CELH	F	-0.0%
	IOT	A	-0.0%
	ZS	C	-0.0%
	TEAM	A	-0.0%
	NET	B	-0.0%
	RBLX	C	-0.0%
	MDB	C	-0.0%
	TOST	B	-0.0%
	DKNG	B	-0.0%
	BSY	D	-0.0%
	DDOG	A	-0.0%
	SNAP	C	-0.0%
	DT	C	-0.0%
	PODD	C	-0.0%
	DOCU	A	-0.0%
	HEI	B	-0.0%
	SNOW	C	-0.0%
	PINS	D	-0.0%
	DXCM	D	-0.0%
	HEI	B	-0.0%
	AXON	A	-0.0%

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

QUS: Top Represented Industries & Keywords

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

Keywords: S&P 500 Nasdaq 100 Computing Natural Gas Insurance Electricity Dow Jones Component Electronics Chemical Aerospace Real Estate Investment Trust Telecommunications Medicine Bank Semiconductor Cloud Computing Banking Insurance Products Mining IBD 50