VONV vs. RECS ETF Comparison

Comparison of Vanguard Russell 1000 Value ETF (VONV) to Columbia Research Enhanced Core ETF (RECS)

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

$76.98

Average Daily Volume

300,249

Number of Holdings ^*

816

* may have additional holdings in another (foreign) market

RECS

Columbia Research Enhanced Core ETF

RECS Description

The investment seeks investment results that, before fees and expenses, closely correspond to the performance of the Beta Advantage® Research Enhanced U.S. Equity Index. The fund invests at least 80% of its assets in the securities of the index. The index is comprised of a subset of the companies within the Russell 1000® Index. The index was designed to reflect the performance of U.S. large- and mid-cap growth and value companies through the application of a rules-based methodology, which typically results in approximately 325-400 Index holdings, but this range can fluctuate because the index has no constraints on number of holdings.

Grade (RS Rating)

Last Trade

$32.17

Average Daily Volume

237,403

Number of Holdings ^*

352

* may have additional holdings in another (foreign) market

Performance

Period	VONV	RECS
30 Days	-2.26%	2.58%
60 Days	2.63%	9.40%
90 Days	-0.38%	4.98%
12 Months	13.76%	27.53%

299 Overlapping Holdings

	Symbol	Grade	Weight in VONV	Weight in RECS	Overlap
	AAL	F	0.03%	0.05%	0.03%
	ABT	D	0.82%	0.99%	0.82%
	ACI	F	0.04%	0.04%	0.04%
	ACM	C	0.06%	0.08%	0.06%
	ADP	C	0.07%	0.68%	0.07%
	ADTN	D	0.01%	0.01%	0.01%
	AEE	D	0.09%	0.16%	0.09%
	AEP	B	0.22%	0.39%	0.22%
	AGCO	F	0.03%	0.04%	0.03%
	AIRC	A	0.03%	0.03%	0.03%
	AIZ	D	0.04%	0.05%	0.04%
	ALNY	C	0.02%	0.04%	0.02%
	ALSN	C	0.03%	0.05%	0.03%
	AMAT	A	0.12%	0.53%	0.12%
	AMG	D	0.02%	0.02%	0.02%
	AMGN	B	0.22%	0.32%	0.22%
	AMH	C	0.06%	0.07%	0.06%
	AOS	C	0.04%	0.07%	0.04%
	ATO	C	0.08%	0.15%	0.08%
	AVTR	D	0.08%	0.08%	0.08%
	AXS	B	0.02%	0.03%	0.02%
	AYI	D	0.04%	0.06%	0.04%
	AZEK	C	0.03%	0.05%	0.03%
	BAC	A	1.22%	1.42%	1.22%
	BAX	D	0.1%	0.1%	0.1%
	BEN	F	0.03%	0.04%	0.03%
	BERY	B	0.03%	0.06%	0.03%
	BG	D	0.07%	0.07%	0.07%
	BIIB	C	0.15%	0.06%	0.06%
	BIO	D	0.03%	0.03%	0.03%
	BK	B	0.2%	0.23%	0.2%
	BKR	D	0.16%	0.1%	0.1%
	BLD	B	0.06%	0.06%	0.06%
	BLDR	D	0.11%	0.13%	0.11%
	BMRN	C	0.06%	0.03%	0.03%
	BMY	F	0.43%	0.48%	0.43%
	BPOP	D	0.03%	0.03%	0.03%
	BR	C	0.02%	0.15%	0.02%
	BRO	A	0.06%	0.11%	0.06%
	BRX	B	0.03%	0.04%	0.03%
	C	C	0.56%	0.61%	0.56%
	CACC	D	0.01%	0.01%	0.01%
	CACC	D	0.02%	0.01%	0.01%
	CACI	A	0.04%	0.06%	0.04%
	CAH	C	0.06%	0.14%	0.06%
	CARR	A	0.2%	0.34%	0.2%
	CAT	D	0.2%	1.12%	0.2%
	CBOE	D	0.09%	0.09%	0.09%
	CCL	C	0.07%	0.07%	0.07%
	CF	D	0.07%	0.12%	0.07%
	CI	D	0.45%	0.54%	0.45%
	CL	A	0.36%	0.34%	0.34%
	CLF	F	0.04%	0.06%	0.04%
	CMA	D	0.03%	0.03%	0.03%
	CMCSA	F	0.72%	0.39%	0.39%
	CME	D	0.36%	0.37%	0.36%
	CNA	B	0.01%	0.01%	0.01%
	CNC	D	0.19%	0.21%	0.19%
	CNM	C	0.05%	0.05%	0.05%
	CNP	A	0.09%	0.17%	0.09%
	CPB	C	0.04%	0.04%	0.04%
	CR	B	0.03%	0.05%	0.03%
	CRBG	B	0.03%	0.04%	0.03%
	CRI	F	0.01%	0.01%	0.01%
	CRM	F	0.3%	0.56%	0.3%
	CRUS	A	0.02%	0.02%	0.02%
	CSCO	F	0.91%	0.49%	0.49%
	CSGP	F	0.1%	0.17%	0.1%
	CSL	A	0.09%	0.14%	0.09%
	CSX	D	0.28%	0.44%	0.28%
	CTAS	A	0.03%	0.41%	0.03%
	CTRA	D	0.1%	0.06%	0.06%
	CUZ	C	0.02%	0.02%	0.02%
	CVX	D	1.33%	0.85%	0.85%
	CW	B	0.05%	0.07%	0.05%
	CWEN	C	0.01%	0.01%	0.01%
	CWEN	C	0.01%	0.02%	0.01%
	CWEN	C	0.0%	0.01%	0.0%
	CWEN	C	0.0%	0.02%	0.0%
	CZR	C	0.02%	0.03%	0.02%
	DAL	D	0.15%	0.22%	0.15%
	DBX	F	0.0%	0.01%	0.0%
	DCI	D	0.02%	0.06%	0.02%
	DHI	D	0.21%	0.18%	0.18%
	DINO	D	0.04%	0.03%	0.03%
	DKS	A	0.05%	0.05%	0.05%
	DOC	B	0.06%	0.08%	0.06%
	EA	B	0.16%	0.1%	0.1%
	EBAY	A	0.12%	0.12%	0.12%
	EEFT	C	0.01%	0.03%	0.01%
	EG	B	0.06%	0.09%	0.06%
	EIX	C	0.13%	0.23%	0.13%
	EME	B	0.05%	0.12%	0.05%
	EOG	D	0.37%	0.22%	0.22%
	EPR	D	0.01%	0.02%	0.01%
	EQIX	C	0.16%	0.41%	0.16%
	EQT	D	0.07%	0.05%	0.05%
	ESAB	C	0.03%	0.04%	0.03%
	ESS	A	0.08%	0.1%	0.08%
	ETR	D	0.11%	0.19%	0.11%
	EVRG	C	0.06%	0.1%	0.06%
	EWBC	C	0.05%	0.05%	0.05%
	EXAS	F	0.03%	0.02%	0.02%
	EXEL	D	0.01%	0.01%	0.01%
	EXP	C	0.01%	0.06%	0.01%
	EXPD	B	0.07%	0.12%	0.07%
	EXPE	C	0.02%	0.07%	0.02%
	FCNCA	D	0.08%	0.09%	0.08%
	FDX	D	0.29%	0.38%	0.29%
	FFIV	D	0.05%	0.02%	0.02%
	FITB	C	0.12%	0.13%	0.12%
	FNB	D	0.02%	0.02%	0.02%
	FOX	B	0.02%	0.01%	0.01%
	FOXA	B	0.04%	0.02%	0.02%
	FTI	C	0.05%	0.03%	0.03%
	FTRE	F	0.02%	0.01%	0.01%
	FTV	D	0.13%	0.17%	0.13%
	G	D	0.02%	0.04%	0.02%
	GEHC	C	0.14%	0.18%	0.14%
	GILD	F	0.39%	0.16%	0.16%
	GIS	C	0.19%	0.16%	0.16%
	GLPI	C	0.05%	0.06%	0.05%
	GPK	C	0.02%	0.07%	0.02%
	GPN	F	0.15%	0.13%	0.13%
	GPS	C	0.02%	0.02%	0.02%
	GTES	D	0.01%	0.02%	0.01%
	HE	F	0.01%	0.01%	0.01%
	HIG	A	0.14%	0.16%	0.14%
	HLT	A	0.13%	0.24%	0.13%
	HOLX	D	0.08%	0.09%	0.08%
	HPQ	B	0.09%	0.08%	0.08%
	HRB	A	0.01%	0.03%	0.01%
	HST	D	0.06%	0.07%	0.06%
	HUM	C	0.1%	0.24%	0.1%
	IART	D	0.01%	0.01%	0.01%
	ICLR	B	0.1%	0.15%	0.1%
	INCY	B	0.01%	0.02%	0.01%
	INGR	C	0.04%	0.03%	0.03%
	INVH	A	0.1%	0.12%	0.1%
	IONS	C	0.0%	0.01%	0.0%
	IP	A	0.06%	0.13%	0.06%
	ITT	C	0.05%	0.07%	0.05%
	IVZ	D	0.02%	0.03%	0.02%
	J	C	0.09%	0.12%	0.09%
	JAZZ	C	0.02%	0.04%	0.02%
	JHG	B	0.02%	0.02%	0.02%
	JNJ	F	1.66%	1.96%	1.66%
	JNPR	B	0.05%	0.03%	0.03%
	JPM	B	2.64%	2.91%	2.64%
	JWN	B	0.01%	0.01%	0.01%
	K	C	0.07%	0.07%	0.07%
	KEX	B	0.03%	0.05%	0.03%
	KHC	D	0.15%	0.11%	0.11%
	KMB	A	0.01%	0.21%	0.01%
	KO	B	0.58%	1.06%	0.58%
	KR	C	0.17%	0.14%	0.14%
	KRC	D	0.02%	0.02%	0.02%
	KSS	F	0.01%	0.01%	0.01%
	L	C	0.07%	0.07%	0.07%
	LEA	F	0.03%	0.03%	0.03%
	LECO	F	0.0%	0.07%	0.0%
	LEG	F	0.01%	0.01%	0.01%
	LEN	D	0.0%	0.01%	0.0%
	LEN	D	0.18%	0.16%	0.16%
	LEN	D	0.0%	0.16%	0.0%
	LEN	D	0.18%	0.01%	0.01%
	LNC	B	0.02%	0.03%	0.02%
	LRCX	A	0.03%	0.37%	0.03%
	LSTR	C	0.01%	0.04%	0.01%
	LVS	F	0.01%	0.07%	0.01%
	LYB	C	0.12%	0.2%	0.12%
	LYV	C	0.05%	0.03%	0.03%
	MAN	D	0.02%	0.03%	0.02%
	MAS	C	0.07%	0.11%	0.07%
	MCK	A	0.21%	0.44%	0.21%
	MDT	D	0.51%	0.6%	0.51%
	MET	C	0.21%	0.23%	0.21%
	MGM	D	0.05%	0.05%	0.05%
	MHK	D	0.03%	0.03%	0.03%
	MMC	A	0.09%	0.55%	0.09%
	MMM	B	0.25%	0.37%	0.25%
	MO	B	0.37%	0.35%	0.35%
	MOH	F	0.04%	0.1%	0.04%
	MOS	F	0.05%	0.08%	0.05%
	MPC	D	0.32%	0.22%	0.22%
	MPW	C	0.01%	0.02%	0.01%
	MRK	B	1.28%	1.83%	1.28%
	MRNA	C	0.18%	0.09%	0.09%
	MRO	C	0.07%	0.05%	0.05%
	MRVI	F	0.0%	0.0%	0.0%
	MSI	A	0.02%	0.16%	0.02%
	MSM	D	0.02%	0.02%	0.02%
	MTB	C	0.11%	0.12%	0.11%
	MTCH	D	0.0%	0.02%	0.0%
	MTG	B	0.03%	0.03%	0.03%
	NDAQ	C	0.11%	0.11%	0.11%
	NEU	D	0.02%	0.02%	0.02%
	NI	C	0.06%	0.1%	0.06%
	NNN	B	0.04%	0.04%	0.04%
	NTAP	A	0.06%	0.07%	0.06%
	NTNX	C	0.05%	0.03%	0.03%
	NUE	D	0.2%	0.32%	0.2%
	NVR	D	0.09%	0.09%	0.09%
	NYCB	F	0.01%	0.01%	0.01%
	NYT	B	0.03%	0.02%	0.02%
	OC	B	0.07%	0.11%	0.07%
	OGN	C	0.02%	0.03%	0.02%
	OKTA	D	0.06%	0.03%	0.03%
	OLLI	A	0.01%	0.02%	0.01%
	OLN	D	0.03%	0.05%	0.03%
	ORI	D	0.04%	0.04%	0.04%
	ORLY	C	0.04%	0.26%	0.04%
	OZK	D	0.02%	0.02%	0.02%
	PCAR	C	0.26%	0.37%	0.26%
	PCG	B	0.17%	0.31%	0.17%
	PG	A	1.49%	1.7%	1.49%
	PH	D	0.33%	0.45%	0.33%
	PHIN	C	0.01%	0.01%	0.01%
	PHM	D	0.11%	0.11%	0.11%
	PINC	F	0.01%	0.01%	0.01%
	PK	D	0.02%	0.02%	0.02%
	PKG	B	0.07%	0.14%	0.07%
	PLTK	C	0.0%	0.0%	0.0%
	PM	B	0.7%	0.68%	0.68%
	PNR	C	0.06%	0.09%	0.06%
	PNW	C	0.04%	0.08%	0.04%
	PPG	D	0.11%	0.26%	0.11%
	PRGO	F	0.02%	0.02%	0.02%
	PSTG	B	0.02%	0.05%	0.02%
	PSX	D	0.3%	0.2%	0.2%
	QCOM	A	0.11%	0.64%	0.11%
	R	D	0.03%	0.03%	0.03%
	RCL	B	0.11%	0.16%	0.11%
	REGN	A	0.41%	0.21%	0.21%
	REYN	C	0.01%	0.01%	0.01%
	RGA	B	0.06%	0.07%	0.06%
	RHI	F	0.03%	0.05%	0.03%
	RL	B	0.03%	0.03%	0.03%
	RNR	B	0.04%	0.06%	0.04%
	ROKU	F	0.03%	0.02%	0.02%
	ROST	A	0.01%	0.21%	0.01%
	RPM	B	0.05%	0.12%	0.05%
	RPRX	F	0.05%	0.06%	0.05%
	RS	D	0.08%	0.14%	0.08%
	SAIC	D	0.03%	0.04%	0.03%
	SBAC	F	0.09%	0.12%	0.09%
	SEB	F	0.0%	0.0%	0.0%
	SEIC	C	0.03%	0.03%	0.03%
	SJM	C	0.06%	0.05%	0.05%
	SKX	B	0.04%	0.04%	0.04%
	SNA	D	0.07%	0.1%	0.07%
	SNX	A	0.04%	0.02%	0.02%
	SOLV	F	0.04%	0.05%	0.04%
	SPG	B	0.17%	0.28%	0.17%
	SSNC	C	0.06%	0.09%	0.06%
	STAG	C	0.03%	0.04%	0.03%
	STLD	C	0.09%	0.16%	0.09%
	STT	D	0.1%	0.12%	0.1%
	SWK	D	0.07%	0.09%	0.07%
	SWKS	B	0.08%	0.04%	0.04%
	SYF	C	0.09%	0.09%	0.09%
	TAP	F	0.05%	0.04%	0.04%
	THC	B	0.05%	0.07%	0.05%
	THO	F	0.02%	0.02%	0.02%
	TKR	D	0.03%	0.03%	0.03%
	TNL	C	0.01%	0.01%	0.01%
	TOL	D	0.06%	0.06%	0.06%
	TPR	C	0.04%	0.04%	0.04%
	TROW	B	0.12%	0.14%	0.12%
	UAL	C	0.08%	0.12%	0.08%
	UNM	D	0.05%	0.05%	0.05%
	USFD	B	0.05%	0.05%	0.05%
	UTHR	A	0.05%	0.03%	0.03%
	VIRT	C	0.01%	0.01%	0.01%
	VLO	D	0.26%	0.17%	0.17%
	VLTO	A	0.1%	0.15%	0.1%
	VRSN	C	0.07%	0.04%	0.04%
	VRT	C	0.14%	0.21%	0.14%
	VRTX	B	0.04%	0.25%	0.04%
	VST	C	0.09%	0.27%	0.09%
	VTRS	F	0.07%	0.07%	0.07%
	VZ	B	0.79%	0.43%	0.43%
	WBA	D	0.06%	0.05%	0.05%
	WBS	D	0.04%	0.04%	0.04%
	WCC	C	0.03%	0.05%	0.03%
	WFC	C	1.02%	1.07%	1.02%
	WLK	D	0.02%	0.04%	0.02%
	WSM	B	0.08%	0.09%	0.08%
	WTFC	D	0.03%	0.03%	0.03%
	WTW	D	0.11%	0.14%	0.11%
	WU	D	0.02%	0.02%	0.02%
	WYNN	D	0.04%	0.04%	0.04%
	X	F	0.04%	0.07%	0.04%
	XOM	D	2.26%	1.57%	1.57%
	XP	F	0.03%	0.03%	0.03%
	XRAY	F	0.03%	0.03%	0.03%
	ZBH	F	0.12%	0.12%	0.12%
	ZION	C	0.03%	0.03%	0.03%
	ZM	F	0.08%	0.04%	0.04%

VONV Overweight 521 Positions Relative to RECS

	Symbol	Grade	Weight
	BRK.A	C	3.47%
	WMT	A	1.21%
	DIS	C	0.97%
	LIN	B	0.93%
	GE	C	0.84%
	DHR	B	0.78%
	COP	D	0.72%
	IBM	C	0.72%
	RTX	B	0.7%
	PFE	C	0.69%
	NEE	C	0.66%
	GS	B	0.64%
	ETN	C	0.61%
	INTC	F	0.61%
	MU	B	0.59%
	SPGI	B	0.58%
	T	B	0.58%
	MCD	F	0.56%
	BLK	B	0.54%
	HON	A	0.53%
	ELV	C	0.52%
	AMD	C	0.52%
	SCHW	D	0.52%
	MS	B	0.51%
	BSX	B	0.5%
	ORCL	A	0.49%
	ADI	B	0.48%
	CB	B	0.48%
	MDLZ	D	0.47%
	PLD	C	0.45%
	TXN	B	0.45%
	AXP	C	0.44%
	SYK	B	0.43%
	CVS	D	0.41%
	TMO	C	0.4%
	BA	D	0.39%
	UNP	D	0.39%
	SO	B	0.38%
	TMUS	B	0.38%
	UPS	F	0.37%
	PEP	D	0.36%
	DUK	B	0.36%
	ICE	B	0.35%
	GD	A	0.34%
	FCX	D	0.34%
	UNH	D	0.34%
	SLB	F	0.32%
	BDX	D	0.32%
	NOC	F	0.31%
	PXD	B	0.3%
	USB	C	0.3%
	CEG	B	0.29%
	PNC	C	0.29%
	EMR	C	0.29%
	AON	C	0.27%
	MRVL	B	0.27%
	ROP	A	0.26%
	COF	C	0.26%
	TDG	B	0.26%
	APD	B	0.25%
	NSC	D	0.25%
	WELL	A	0.25%
	AIG	D	0.25%
	TFC	C	0.24%
	NKE	C	0.24%
	TT	A	0.24%
	GM	B	0.24%
	AJG	A	0.23%
	F	D	0.23%
	TRV	D	0.23%
	AFL	A	0.23%
	HCA	A	0.23%
	SRE	B	0.22%
	OXY	D	0.22%
	KKR	B	0.22%
	WMB	A	0.22%
	NEM	B	0.22%
	OKE	C	0.21%
	O	D	0.21%
	ALL	D	0.21%
	GEV	A	0.2%
	DLR	A	0.2%
	D	C	0.2%
	RSG	B	0.19%
	PRU	B	0.19%
	DOW	D	0.19%
	AME	C	0.19%
	FIS	A	0.19%
	LHX	B	0.19%
	STZ	C	0.18%
	JCI	B	0.18%
	EXC	D	0.18%
	IR	B	0.18%
	CTVA	D	0.18%
	CMI	C	0.18%
	COIN	C	0.17%
	APH	A	0.17%
	LOW	C	0.17%
	OTIS	B	0.17%
	KMI	B	0.17%
	FANG	D	0.17%
	URI	C	0.17%
	MLM	C	0.17%
	CCI	D	0.17%
	ED	D	0.16%
	DVN	D	0.16%
	CTSH	D	0.16%
	PEG	B	0.16%
	PGR	C	0.15%
	DD	B	0.15%
	ADM	F	0.15%
	DFS	B	0.15%
	KDP	A	0.15%
	WAB	B	0.14%
	ACGL	B	0.14%
	VICI	D	0.14%
	XEL	D	0.14%
	ON	C	0.14%
	CBRE	C	0.13%
	VMC	C	0.13%
	AVB	A	0.13%
	HAL	D	0.13%
	XYL	B	0.13%
	PWR	A	0.13%
	EXR	A	0.13%
	DLTR	F	0.12%
	DOV	B	0.12%
	SQ	F	0.12%
	HWM	B	0.12%
	GLW	A	0.12%
	WEC	D	0.12%
	WY	F	0.11%
	GPC	D	0.11%
	HPE	B	0.11%
	GRMN	B	0.11%
	DTE	C	0.11%
	WDC	A	0.11%
	RJF	C	0.11%
	EL	F	0.11%
	TTWO	C	0.11%
	AWK	B	0.11%
	EQR	A	0.11%
	ARE	C	0.1%
	PPL	B	0.1%
	STE	D	0.1%
	FE	C	0.1%
	ES	D	0.1%
	BALL	D	0.1%
	KVUE	D	0.1%
	IFF	B	0.1%
	RF	C	0.09%
	MSCI	D	0.09%
	OMC	C	0.09%
	FSLR	C	0.09%
	PFG	C	0.09%
	ENTG	B	0.09%
	MKL	B	0.09%
	MKC	D	0.09%
	LDOS	B	0.09%
	KEYS	D	0.09%
	APTV	F	0.09%
	HES	D	0.09%
	HBAN	D	0.09%
	CFG	C	0.08%
	WBD	F	0.08%
	NRG	B	0.08%
	TXT	C	0.08%
	NTRS	C	0.08%
	TSN	D	0.08%
	PSA	B	0.08%
	LH	C	0.08%
	CMS	D	0.08%
	VTR	A	0.08%
	CINF	C	0.08%
	TDY	D	0.08%
	ILMN	F	0.07%
	MCHP	B	0.07%
	ALB	F	0.07%
	TRU	D	0.07%
	CAG	D	0.07%
	NDSN	D	0.07%
	TRMB	C	0.07%
	LII	A	0.07%
	MAA	B	0.07%
	AKAM	F	0.07%
	CE	D	0.07%
	IEX	D	0.07%
	WRB	C	0.07%
	LUV	B	0.07%
	DGX	C	0.07%
	CRL	D	0.06%
	IPG	F	0.06%
	AVY	A	0.06%
	UDR	B	0.06%
	NVT	B	0.06%
	WPC	D	0.06%
	SHW	C	0.06%
	IBKR	B	0.06%
	WRK	C	0.06%
	KIM	B	0.06%
	BBY	A	0.06%
	XPO	D	0.06%
	ECL	A	0.06%
	LNT	D	0.06%
	FNF	C	0.06%
	AMCR	B	0.06%
	ZBRA	D	0.06%
	KEY	D	0.06%
	ITW	D	0.06%
	ATR	B	0.05%
	CG	D	0.05%
	CLH	A	0.05%
	AR	C	0.05%
	DOX	F	0.05%
	PTC	D	0.05%
	BXP	C	0.05%
	WWD	A	0.05%
	FAST	C	0.05%
	DRI	C	0.05%
	TFX	D	0.05%
	UHS	A	0.05%
	CTLT	C	0.05%
	KMX	C	0.05%
	CASY	B	0.05%
	BBWI	D	0.05%
	HRL	F	0.05%
	CPT	A	0.05%
	ALLY	B	0.05%
	HOOD	C	0.05%
	APP	B	0.05%
	RRX	D	0.05%
	SUI	D	0.05%
	REG	B	0.05%
	JBHT	F	0.05%
	HUBB	C	0.05%
	HII	D	0.05%
	CHK	D	0.05%
	CNH	D	0.05%
	EMN	B	0.05%
	WSO	A	0.05%
	IRM	A	0.05%
	QRVO	B	0.05%
	LKQ	F	0.05%
	MIDD	D	0.04%
	OHI	A	0.04%
	A	C	0.04%
	HSY	F	0.04%
	TW	C	0.04%
	BWA	F	0.04%
	EHC	B	0.04%
	JEF	B	0.04%
	SF	C	0.04%
	RGLD	D	0.04%
	MKSI	A	0.04%
	GGG	D	0.04%
	NU	B	0.04%
	HAS	C	0.04%
	GNTX	D	0.04%
	JKHY	D	0.04%
	GNRC	C	0.04%
	ARMK	A	0.04%
	SWN	D	0.04%
	EFX	B	0.04%
	FHN	D	0.04%
	AZO	C	0.04%
	DAY	F	0.04%
	RRC	D	0.04%
	FRT	D	0.04%
	TTEK	B	0.04%
	TWLO	F	0.04%
	WM	C	0.04%
	JLL	A	0.04%
	CCK	D	0.04%
	DASH	D	0.04%
	GWRE	A	0.04%
	REXR	D	0.04%
	HSIC	D	0.04%
	CUBE	B	0.04%
	AFG	C	0.04%
	WTRG	C	0.04%
	QGEN	B	0.04%
	NWSA	B	0.04%
	SAIA	C	0.04%
	ALK	C	0.03%
	UGI	D	0.03%
	FAF	D	0.03%
	POST	D	0.03%
	PB	D	0.03%
	HXL	D	0.03%
	JBL	C	0.03%
	SON	C	0.03%
	LFUS	B	0.03%
	MTZ	B	0.03%
	MSA	C	0.03%
	PFGC	D	0.03%
	KBR	C	0.03%
	WH	C	0.03%
	STWD	C	0.03%
	FYBR	B	0.03%
	ADC	B	0.03%
	PNFP	D	0.03%
	ST	C	0.03%
	FCN	D	0.03%
	GXO	F	0.03%
	OMF	C	0.03%
	HLI	C	0.03%
	FR	C	0.03%
	RIVN	C	0.03%
	DTM	A	0.03%
	NCLH	D	0.03%
	WAL	C	0.03%
	CFR	D	0.03%
	FLS	C	0.03%
	AXTA	B	0.03%
	COLD	C	0.03%
	AA	C	0.03%
	FMC	F	0.03%
	EVR	A	0.03%
	AGNC	A	0.03%
	BILL	F	0.03%
	MTN	F	0.03%
	MAT	F	0.03%
	H	C	0.03%
	ELAN	B	0.03%
	SOFI	F	0.03%
	PVH	C	0.03%
	BJ	A	0.03%
	SCI	B	0.03%
	CBSH	D	0.03%
	DE	D	0.03%
	GL	C	0.03%
	VOYA	B	0.03%
	ACHC	D	0.03%
	TPX	D	0.03%
	CIEN	F	0.03%
	DAR	F	0.03%
	PARA	F	0.03%
	GDDY	B	0.03%
	LAD	D	0.03%
	ARW	C	0.03%
	PYPL	D	0.03%
	RBC	B	0.03%
	OGE	C	0.03%
	COHR	B	0.03%
	EGP	C	0.03%
	CGNX	B	0.03%
	AFRM	F	0.03%
	ELS	C	0.03%
	KNX	F	0.03%
	BWXT	C	0.03%
	NOV	D	0.03%
	OSK	D	0.03%
	OWL	C	0.03%
	OVV	D	0.03%
	RH	F	0.02%
	NVST	F	0.02%
	SPR	C	0.02%
	FRPT	A	0.02%
	VAC	F	0.02%
	WOLF	D	0.02%
	NXST	D	0.02%
	MSGS	C	0.02%
	KMPR	C	0.02%
	IAC	F	0.02%
	AWI	C	0.02%
	ETSY	F	0.02%
	SLGN	D	0.02%
	DXC	D	0.02%
	BYD	D	0.02%
	UHAL	D	0.02%
	GFS	C	0.02%
	COLB	F	0.02%
	HUN	D	0.02%
	VMI	B	0.02%
	CC	F	0.02%
	Z	B	0.02%
	CPRI	F	0.02%
	OLED	A	0.02%
	VVV	C	0.02%
	SRCL	B	0.02%
	PII	F	0.02%
	VNT	C	0.02%
	AGO	C	0.02%
	GMED	A	0.02%
	U	F	0.02%
	COTY	F	0.02%
	AAP	D	0.02%
	WTM	C	0.02%
	HOG	D	0.02%
	RYN	B	0.02%
	VFC	C	0.02%
	S	D	0.02%
	RLI	C	0.02%
	AVT	B	0.02%
	KD	C	0.02%
	DLB	F	0.02%
	TYL	B	0.02%
	AN	B	0.02%
	VNO	C	0.02%
	THG	D	0.02%
	AES	C	0.02%
	FLO	D	0.02%
	LPX	B	0.02%
	SITE	F	0.02%
	NFG	C	0.02%
	ASH	B	0.02%
	IDA	D	0.02%
	YUM	C	0.02%
	ZG	B	0.02%
	WEX	F	0.02%
	ANSS	C	0.02%
	LBRDK	F	0.02%
	M	D	0.02%
	MDU	C	0.02%
	BC	F	0.02%
	WHR	F	0.02%
	RGEN	F	0.02%
	WSC	F	0.02%
	ESI	A	0.02%
	MCO	A	0.02%
	SNV	C	0.02%
	AL	C	0.02%
	BFAM	D	0.02%
	HEI	A	0.01%
	SNDR	C	0.01%
	CAR	F	0.01%
	HEI	A	0.01%
	PLUG	F	0.01%
	INFA	C	0.01%
	DNA	F	0.01%
	NATL	B	0.01%
	CERT	F	0.01%
	PPC	C	0.01%
	CPAY	D	0.01%
	MRCY	D	0.01%
	KLG	F	0.01%
	DOCS	C	0.01%
	MP	F	0.01%
	PATH	F	0.01%
	UAA	C	0.01%
	CHRW	B	0.01%
	HAYW	D	0.01%
	QS	F	0.01%
	VSAT	F	0.01%
	NCNO	C	0.01%
	RCM	B	0.01%
	LCID	F	0.01%
	CDW	C	0.01%
	ICUI	B	0.01%
	SEE	C	0.01%
	CABO	F	0.01%
	TNDM	C	0.01%
	TDOC	F	0.01%
	VSTS	F	0.01%
	TPG	C	0.01%
	RUN	C	0.01%
	ZI	F	0.01%
	LAMR	C	0.01%
	CHE	D	0.01%
	CNXC	D	0.01%
	BOKF	C	0.01%
	SPB	B	0.01%
	PENN	C	0.01%
	GO	F	0.01%
	DNB	F	0.01%
	ODFL	D	0.01%
	IPGP	F	0.01%
	NWS	B	0.01%
	AGR	D	0.01%
	PRI	B	0.01%
	NSA	A	0.01%
	PLNT	B	0.01%
	FHB	C	0.01%
	HIW	C	0.01%
	W	F	0.01%
	BHF	F	0.01%
	CHD	A	0.01%
	COLM	B	0.01%
	LOPE	C	0.01%
	SLM	D	0.01%
	TRIP	F	0.01%
	AZTA	C	0.01%
	ENOV	F	0.01%
	LITE	B	0.01%
	AMED	F	0.01%
	GME	C	0.01%
	PAG	D	0.01%
	TER	A	0.01%
	APA	F	0.01%
	NWL	F	0.01%
	RBA	B	0.01%
	IQV	D	0.01%
	CLVT	F	0.01%
	AM	B	0.01%
	UI	C	0.0%
	WOOF	C	0.0%
	AGL	D	0.0%
	OLPX	C	0.0%
	SAM	C	0.0%
	IRDM	F	0.0%
	UHAL	D	0.0%
	LBRDA	F	0.0%
	UWMC	B	0.0%
	SHC	D	0.0%
	MUSA	A	0.0%
	MCW	C	0.0%
	TECH	C	0.0%
	HTZ	F	0.0%
	TFSL	C	0.0%
	PYCR	F	0.0%
	LW	C	0.0%
	AMC	D	0.0%
	BSY	C	0.0%
	SIRI	F	0.0%
	VSCO	F	0.0%
	ALLE	D	0.0%
	BIRK	A	0.0%
	UA	C	0.0%
	DRVN	F	0.0%
	RKT	C	0.0%
	HCP	A	0.0%

VONV Underweight 58 Positions Relative to RECS

	Symbol	Grade	Weight
	MSFT	A	-8.56%
	AAPL	B	-8.24%
	AMZN	C	-7.17%
	NVDA	A	-4.99%
	META	B	-2.82%
	GOOG	B	-2.34%
	V	D	-2.31%
	GOOGL	B	-2.19%
	SOXX	A	-1.48%
	SMH	A	-1.42%
	BKNG	A	-0.6%
	ABBV	B	-0.58%
	AMT	C	-0.54%
	ADBE	C	-0.54%
	XLC	B	-0.53%
	TJX	A	-0.53%
	INTU	C	-0.43%
	NOW	C	-0.37%
	TGT	D	-0.29%
	PAYX	A	-0.27%
	VRSK	A	-0.26%
	PANW	B	-0.25%
	CDNS	A	-0.22%
	CRWD	A	-0.21%
	ANET	A	-0.21%
	DECK	B	-0.12%
	ADSK	B	-0.12%
	TTD	A	-0.11%
	WDAY	F	-0.11%
	LPLA	A	-0.11%
	ALGN	F	-0.11%
	SPOT	B	-0.11%
	FTNT	F	-0.1%
	CPNG	D	-0.1%
	DDOG	C	-0.09%
	WMS	B	-0.08%
	HUBS	D	-0.07%
	DKNG	C	-0.07%
	SCCO	D	-0.07%
	TEAM	F	-0.06%
	PINS	A	-0.06%
	ENPH	C	-0.05%
	MEDP	B	-0.05%
	DVA	B	-0.04%
	CROX	A	-0.04%
	ZS	C	-0.04%
	DOCU	D	-0.03%
	NBIX	D	-0.03%
	DT	F	-0.03%
	SRPT	D	-0.02%
	LSCC	F	-0.02%
	SMG	D	-0.02%
	NTRA	B	-0.02%
	RARE	F	-0.01%
	ALGM	D	-0.01%
	APLS	F	-0.01%
	WEN	F	-0.01%
	SMAR	C	-0.01%

VONV: Top Represented Industries & Keywords

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

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

RECS: Top Represented Industries & Keywords

Industries: Biotechnology Software - Application Banks - Regional - US Asset Management Business Services Diversified Industrials Software - Infrastructure Utilities - Regulated Electric Drug Manufacturers - Major Internet Content & Information Specialty Chemicals Packaged Foods Semiconductors Banks - Global Building Materials Diagnostics & Research Medical Devices Packaging & Containers Residential Construction Specialty Retail

Keywords: S&P 500 Nasdaq 100 Computing Bank Insurance Medicine Natural Gas Biotechnology Dow Jones Component Banking Electronics Work From Home Electricity Real Estate Investment Trust Clothing Cloud Computing Software As A Service Telecommunications Biopharmaceutical Cash Management