VONV vs. SMLF ETF Comparison

Comparison of Vanguard Russell 1000 Value ETF (VONV) to iShares FactorSelect MSCI USA Small-Cap ETF (SMLF)

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 1000Â® 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

SMLF

iShares FactorSelect MSCI USA Small-Cap ETF

SMLF Description

The investment seeks to track the investment results of the MSCI USA Small Cap Diversified Multi-Factor Index (the "underlying index"), which has been developed by MSCI Inc. ("MSCI"). The underlying index is designed to select equity securities from MSCI USA Small Cap Index (the "Parent index") that have high exposure to four investment style factors: value, quality, momentum and low size, while maintaining a level of risk similar to that of the Parent index. 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 fund is non-diversified.

Grade (RS Rating)

Last Trade

$73.06

Average Daily Volume

71,849

Number of Holdings ^*

810

* may have additional holdings in another (foreign) market

Performance

Period	VONV	SMLF
30 Days	3.51%	10.53%
60 Days	4.96%	10.49%
90 Days	7.00%	11.95%
12 Months	29.73%	40.74%

248 Overlapping Holdings

Symbol	Grade	Weight in VONV	Weight in SMLF	Overlap
AA	B	0.04%	0.13%	0.04%
ACHC	F	0.02%	0.04%	0.02%
ACI	C	0.03%	0.05%	0.03%
ACM	A	0.06%	0.19%	0.06%
AFRM	B	0.04%	0.07%	0.04%
AGCO	D	0.02%	0.2%	0.02%
AGNC	D	0.03%	0.16%	0.03%
AGO	B	0.02%	0.27%	0.02%
AIZ	A	0.04%	0.17%	0.04%
ALGM	D	0.01%	0.01%	0.01%
ALLE	D	0.05%	0.16%	0.05%
ALSN	B	0.04%	0.56%	0.04%
AM	A	0.01%	0.37%	0.01%
AMG	B	0.02%	0.23%	0.02%
AMH	D	0.05%	0.25%	0.05%
AN	C	0.02%	0.24%	0.02%
APA	D	0.03%	0.22%	0.03%
APG	B	0.03%	0.09%	0.03%
AR	B	0.03%	0.21%	0.03%
ARW	D	0.03%	0.18%	0.03%
ASH	D	0.02%	0.07%	0.02%
ATI	D	0.03%	0.14%	0.03%
AXS	A	0.02%	0.01%	0.01%
AXTA	A	0.03%	0.03%	0.03%
AYI	B	0.04%	0.35%	0.04%
AZEK	A	0.01%	0.06%	0.01%
BBWI	D	0.03%	0.2%	0.03%
BC	C	0.02%	0.09%	0.02%
BERY	B	0.03%	0.1%	0.03%
BILL	A	0.02%	0.04%	0.02%
BJ	A	0.04%	0.16%	0.04%
BLD	D	0.04%	0.21%	0.04%
BPOP	B	0.02%	0.53%	0.02%
BRBR	A	0.03%	0.06%	0.03%
BRKR	D	0.01%	0.14%	0.01%
BRX	A	0.03%	0.37%	0.03%
BWXT	B	0.04%	0.13%	0.04%
BYD	C	0.02%	0.01%	0.01%
CACC	D	0.0%	0.08%	0.0%
CACI	D	0.05%	0.02%	0.02%
CAR	C	0.0%	0.09%	0.0%
CASY	A	0.05%	0.06%	0.05%
CBSH	A	0.03%	0.24%	0.03%
CC	C	0.01%	0.06%	0.01%
CFR	B	0.03%	0.25%	0.03%
CHE	D	0.03%	0.3%	0.03%
CHRD	D	0.03%	0.03%	0.03%
CIEN	B	0.04%	0.03%	0.03%
CLH	B	0.05%	0.07%	0.05%
CLVT	F	0.01%	0.02%	0.01%
CMA	A	0.03%	0.0%	0.0%
CNM	D	0.01%	0.36%	0.01%
COKE	C	0.03%	0.22%	0.03%
COTY	F	0.01%	0.06%	0.01%
CR	A	0.03%	0.35%	0.03%
CROX	D	0.02%	0.19%	0.02%
CRUS	D	0.02%	0.11%	0.02%
CSL	C	0.07%	0.41%	0.07%
CUBE	D	0.04%	0.11%	0.04%
CUZ	B	0.02%	0.08%	0.02%
CVNA	B	0.07%	0.46%	0.07%
CW	B	0.05%	0.23%	0.05%
CWEN	C	0.0%	0.15%	0.0%
CWEN	C	0.01%	0.15%	0.01%
CXT	B	0.01%	0.09%	0.01%
DCI	B	0.04%	0.18%	0.04%
DDS	B	0.0%	0.31%	0.0%
DINO	D	0.02%	0.01%	0.01%
DKS	C	0.04%	0.38%	0.04%
DNB	B	0.01%	0.03%	0.01%
DOCS	C	0.02%	0.15%	0.02%
DTM	B	0.04%	0.2%	0.04%
EEFT	B	0.02%	0.09%	0.02%
EGP	F	0.03%	0.09%	0.03%
EHC	B	0.04%	0.05%	0.04%
ELAN	D	0.02%	0.08%	0.02%
EME	C	0.05%	0.94%	0.05%
EPR	D	0.01%	0.02%	0.01%
ESAB	B	0.03%	0.18%	0.03%
ESI	A	0.02%	0.15%	0.02%
ETSY	D	0.01%	0.2%	0.01%
EVR	B	0.04%	0.81%	0.04%
EWBC	A	0.05%	0.39%	0.05%
EXEL	B	0.01%	0.24%	0.01%
FAF	A	0.03%	0.16%	0.03%
FCN	D	0.03%	0.04%	0.03%
FCNCA	A	0.09%	0.27%	0.09%
FHB	A	0.01%	0.08%	0.01%
FHN	A	0.04%	0.04%	0.04%
FLO	D	0.02%	0.06%	0.02%
FR	C	0.03%	0.31%	0.03%
FYBR	D	0.04%	0.13%	0.04%
GAP	C	0.02%	0.23%	0.02%
GGG	B	0.05%	0.3%	0.05%
GLPI	C	0.05%	0.18%	0.05%
GME	C	0.03%	0.16%	0.03%
GMED	A	0.03%	0.03%	0.03%
GNRC	B	0.02%	0.15%	0.02%
GO	C	0.01%	0.01%	0.01%
GPK	C	0.03%	0.26%	0.03%
GWRE	A	0.03%	0.01%	0.01%
HAS	D	0.0%	0.19%	0.0%
HIW	D	0.01%	0.18%	0.01%
HLI	B	0.03%	0.18%	0.03%
HOG	D	0.02%	0.15%	0.02%
HRB	D	0.03%	0.4%	0.03%
HUN	F	0.01%	0.1%	0.01%
HXL	D	0.02%	0.01%	0.01%
IBKR	A	0.06%	0.45%	0.06%
IDA	A	0.02%	0.46%	0.02%
IONS	F	0.0%	0.14%	0.0%
ITT	A	0.05%	0.31%	0.05%
IVZ	B	0.03%	0.1%	0.03%
JBL	B	0.05%	0.55%	0.05%
JEF	A	0.03%	0.4%	0.03%
JHG	A	0.02%	0.31%	0.02%
KBR	F	0.03%	0.12%	0.03%
KD	B	0.02%	0.06%	0.02%
KIM	A	0.06%	0.16%	0.06%
KRC	C	0.02%	0.12%	0.02%
KSS	F	0.01%	0.08%	0.01%
LAMR	D	0.03%	0.33%	0.03%
LBRDA	C	0.0%	0.4%	0.0%
LECO	B	0.03%	0.05%	0.03%
LFUS	F	0.02%	0.05%	0.02%
LPX	B	0.01%	0.41%	0.01%
LSCC	D	0.0%	0.23%	0.0%
LSTR	D	0.03%	0.1%	0.03%
LYFT	C	0.01%	0.1%	0.01%
M	D	0.02%	0.19%	0.02%
MAN	D	0.01%	0.04%	0.01%
MASI	A	0.01%	0.08%	0.01%
MAT	D	0.03%	0.12%	0.03%
MDU	D	0.02%	0.04%	0.02%
MIDD	C	0.03%	0.08%	0.03%
MKSI	C	0.03%	0.08%	0.03%
MPW	F	0.01%	0.06%	0.01%
MSA	D	0.02%	0.02%	0.02%
MSM	C	0.01%	0.02%	0.01%
MSTR	C	0.14%	0.73%	0.14%
MTG	C	0.03%	0.09%	0.03%
MTN	C	0.0%	0.09%	0.0%
MTSI	B	0.03%	0.09%	0.03%
NDSN	B	0.06%	0.18%	0.06%
NFG	A	0.02%	0.13%	0.02%
NNN	D	0.03%	0.1%	0.03%
NOV	C	0.02%	0.12%	0.02%
NTNX	A	0.04%	0.56%	0.04%
NVST	B	0.01%	0.06%	0.01%
NVT	B	0.05%	0.49%	0.05%
NWL	B	0.01%	0.02%	0.01%
NXST	C	0.01%	0.07%	0.01%
NYT	C	0.04%	0.12%	0.04%
OC	A	0.06%	0.18%	0.06%
OGE	B	0.03%	0.12%	0.03%
OHI	C	0.04%	0.09%	0.04%
OLED	D	0.02%	0.03%	0.02%
OLN	D	0.02%	0.09%	0.02%
OMF	A	0.02%	0.16%	0.02%
ONTO	D	0.03%	0.15%	0.03%
ORI	A	0.03%	0.41%	0.03%
OVV	B	0.04%	0.25%	0.04%
OZK	B	0.02%	0.08%	0.02%
PARA	C	0.03%	0.11%	0.03%
PATH	C	0.0%	0.05%	0.0%
PII	D	0.01%	0.01%	0.01%
PK	B	0.01%	0.05%	0.01%
PLNT	A	0.01%	0.09%	0.01%
PNFP	B	0.03%	0.1%	0.03%
PR	B	0.03%	0.02%	0.02%
PRGO	B	0.01%	0.04%	0.01%
PRI	A	0.04%	0.28%	0.04%
PSTG	D	0.01%	0.29%	0.01%
PVH	C	0.02%	0.17%	0.02%
PYCR	C	0.0%	0.01%	0.0%
R	B	0.02%	0.28%	0.02%
RGEN	D	0.03%	0.08%	0.03%
RGLD	C	0.04%	0.14%	0.04%
RHI	B	0.03%	0.17%	0.03%
RKT	F	0.01%	0.03%	0.01%
RL	B	0.03%	0.15%	0.03%
RLI	B	0.02%	0.03%	0.02%
RNR	C	0.05%	0.21%	0.05%
ROIV	C	0.02%	0.01%	0.01%
ROKU	D	0.03%	0.04%	0.03%
RPM	A	0.05%	0.22%	0.05%
RRC	B	0.03%	0.19%	0.03%
RRX	B	0.04%	0.2%	0.04%
RS	B	0.07%	0.49%	0.07%
RYN	D	0.02%	0.06%	0.02%
S	B	0.02%	0.06%	0.02%
SAIA	B	0.02%	0.12%	0.02%
SCI	B	0.05%	0.14%	0.05%
SEE	C	0.02%	0.0%	0.0%
SF	B	0.04%	0.17%	0.04%
SITE	D	0.02%	0.05%	0.02%
SLM	A	0.02%	0.16%	0.02%
SMG	D	0.01%	0.19%	0.01%
SN	D	0.02%	0.27%	0.02%
SNV	B	0.03%	0.05%	0.03%
SOFI	A	0.04%	0.06%	0.04%
SOLV	C	0.04%	0.31%	0.04%
SON	D	0.02%	0.09%	0.02%
SPB	C	0.01%	0.15%	0.01%
SSD	D	0.03%	0.14%	0.03%
STAG	F	0.03%	0.04%	0.03%
STWD	C	0.02%	0.06%	0.02%
THC	D	0.06%	0.31%	0.06%
THO	B	0.02%	0.13%	0.02%
TKR	D	0.02%	0.17%	0.02%
TNL	A	0.01%	0.16%	0.01%
TOL	B	0.06%	0.16%	0.06%
TPG	A	0.02%	0.2%	0.02%
TPR	B	0.04%	0.3%	0.04%
TTC	D	0.03%	0.14%	0.03%
TTEK	F	0.04%	0.29%	0.04%
UA	C	0.01%	0.14%	0.01%
UGI	A	0.02%	0.1%	0.02%
UNM	A	0.05%	0.0%	0.0%
USFD	A	0.06%	0.18%	0.06%
UTHR	C	0.07%	0.38%	0.07%
VAC	B	0.01%	0.07%	0.01%
VFC	C	0.03%	0.08%	0.03%
VIRT	B	0.01%	0.03%	0.01%
VMI	B	0.02%	0.15%	0.02%
VNO	B	0.03%	0.41%	0.03%
VNT	B	0.02%	0.05%	0.02%
VOYA	B	0.03%	0.17%	0.03%
VSTS	C	0.01%	0.02%	0.01%
W	F	0.02%	0.15%	0.02%
WAL	B	0.04%	0.1%	0.04%
WBA	F	0.03%	0.05%	0.03%
WBS	A	0.04%	0.05%	0.04%
WCC	B	0.03%	0.2%	0.03%
WEN	D	0.01%	0.12%	0.01%
WEX	D	0.03%	0.09%	0.03%
WH	B	0.02%	0.12%	0.02%
WMS	D	0.03%	0.1%	0.03%
WSC	D	0.02%	0.09%	0.02%
WSM	B	0.03%	0.42%	0.03%
WSO	A	0.07%	0.31%	0.07%
WTFC	A	0.03%	0.02%	0.02%
WTM	A	0.02%	0.16%	0.02%
WYNN	D	0.04%	0.07%	0.04%
X	C	0.03%	0.1%	0.03%
XRAY	F	0.02%	0.2%	0.02%
YETI	C	0.01%	0.08%	0.01%
ZION	B	0.03%	0.24%	0.03%

VONV Overweight 594 Positions Relative to SMLF

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%
BMY	B	0.45%
HON	B	0.45%
MU	D	0.44%
ADI	D	0.44%
GILD	C	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%
CI	F	0.32%
REGN	F	0.32%
CME	A	0.32%
PYPL	B	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%
NOC	D	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%
WMB	A	0.25%
MAR	B	0.24%
AJG	B	0.23%
OKE	A	0.23%
NSC	B	0.23%
TDG	D	0.23%
GM	B	0.23%
SLB	C	0.23%
ROP	B	0.23%
TFC	A	0.23%
DLR	B	0.23%
MMM	D	0.23%
AFL	B	0.23%
TT	A	0.22%
BK	A	0.22%
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%
PCAR	B	0.21%
AIG	B	0.2%
CARR	D	0.2%
D	C	0.2%
DHI	D	0.2%
FIS	C	0.2%
PSX	C	0.2%
HCA	F	0.2%
CCI	D	0.19%
LHX	C	0.19%
KMI	A	0.19%
PEP	F	0.19%
ITW	B	0.19%
KVUE	A	0.18%
PRU	A	0.18%
PSA	D	0.18%
PEG	A	0.18%
CMI	A	0.18%
MET	A	0.18%
ALL	A	0.17%
VLO	C	0.17%
CRM	B	0.17%
JCI	C	0.17%
AME	A	0.17%
CTVA	C	0.17%
PCG	A	0.17%
MSI	B	0.16%
MCHP	D	0.16%
EXC	C	0.16%
OTIS	C	0.16%
CBRE	B	0.16%
EA	A	0.16%
F	C	0.16%
RSG	A	0.16%
LEN	D	0.16%
SPG	B	0.16%
URI	B	0.16%
GLW	B	0.15%
DAL	C	0.15%
KDP	D	0.15%
MCK	B	0.15%
KR	B	0.15%
STZ	D	0.15%
DFS	B	0.15%
CTSH	B	0.15%
XEL	A	0.15%
HWM	A	0.15%
AMGN	D	0.15%
GIS	D	0.15%
BKR	B	0.15%
A	D	0.15%
IR	B	0.15%
NUE	C	0.14%
EXR	D	0.14%
CL	D	0.14%
MLM	B	0.14%
DD	D	0.14%
DOW	F	0.14%
GEHC	F	0.14%
ED	D	0.14%
ROST	C	0.14%
NKE	D	0.14%
ACGL	D	0.14%
EIX	B	0.13%
AVB	B	0.13%
RCL	A	0.13%
HIG	B	0.13%
MTB	A	0.13%
EW	C	0.13%
CNC	D	0.13%
IQV	D	0.13%
WAB	B	0.13%
ETR	B	0.13%
APH	A	0.13%
VICI	C	0.13%
FANG	D	0.13%
OXY	D	0.13%
PPG	F	0.12%
EBAY	D	0.12%
XYL	D	0.12%
CSGP	D	0.12%
KHC	F	0.12%
FITB	A	0.12%
WEC	A	0.12%
ON	D	0.12%
PWR	A	0.12%
NDAQ	A	0.12%
CHTR	C	0.12%
GRMN	B	0.12%
WTW	B	0.12%
HUM	C	0.12%
ADM	D	0.11%
HPQ	B	0.11%
GPN	B	0.11%
VTR	C	0.11%
EQR	B	0.11%
KMB	D	0.11%
SW	A	0.11%
PHM	D	0.11%
VMC	B	0.11%
AWK	D	0.11%
MTD	D	0.11%
ROK	B	0.11%
TTWO	A	0.11%
ANSS	B	0.11%
STT	A	0.11%
RJF	A	0.11%
HLT	A	0.11%
DELL	C	0.11%
PAYX	C	0.11%
PPL	B	0.1%
FE	C	0.1%
TROW	B	0.1%
DVN	F	0.1%
CHD	B	0.1%
HAL	C	0.1%
SBAC	D	0.1%
LDOS	C	0.1%
SBUX	A	0.1%
FTV	C	0.1%
HPE	B	0.1%
BIIB	F	0.1%
IFF	D	0.1%
UAL	A	0.1%
RMD	C	0.1%
NVR	D	0.1%
DTE	C	0.1%
DOV	A	0.1%
KEYS	A	0.1%
EFX	F	0.1%
WDC	D	0.09%
LNG	B	0.09%
CINF	A	0.09%
SYF	B	0.09%
STE	F	0.09%
ZBH	C	0.09%
RF	A	0.09%
CCL	B	0.09%
HSY	F	0.09%
PGR	A	0.09%
HBAN	A	0.09%
CBOE	B	0.09%
LYB	F	0.09%
WY	D	0.09%
YUM	B	0.09%
HUBB	B	0.09%
ILMN	D	0.09%
ES	D	0.09%
AEE	A	0.09%
SQ	B	0.09%
APO	B	0.08%
PFG	D	0.08%
CFG	B	0.08%
LH	C	0.08%
INVH	D	0.08%
IP	B	0.08%
ARE	D	0.08%
STLD	B	0.08%
BBY	D	0.08%
OMC	C	0.08%
MKC	D	0.08%
ZM	B	0.08%
WBD	C	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%
K	A	0.08%
IEX	B	0.07%
SUI	D	0.07%
PNR	A	0.07%
TSN	B	0.07%
WRB	A	0.07%
SNA	A	0.07%
DGX	A	0.07%
J	F	0.07%
MRNA	F	0.07%
DG	F	0.07%
MAA	B	0.07%
MAS	D	0.07%
CTRA	B	0.07%
ESS	B	0.07%
BAX	D	0.07%
BALL	D	0.07%
LUV	C	0.07%
HOLX	D	0.07%
MSCI	C	0.07%
TRU	D	0.07%
BLDR	D	0.07%
CNP	B	0.07%
VTRS	A	0.06%
CAG	D	0.06%
UDR	B	0.06%
RGA	A	0.06%
VLTO	D	0.06%
BRO	B	0.06%
VRSN	F	0.06%
SWKS	F	0.06%
EXPD	D	0.06%
L	A	0.06%
SYY	B	0.06%
SWK	D	0.06%
ZTS	D	0.06%
RVTY	F	0.06%
TRMB	B	0.06%
JBHT	C	0.06%
CF	B	0.06%
TXT	D	0.06%
SSNC	B	0.06%
MKL	A	0.06%
AVTR	F	0.06%
AKAM	D	0.06%
ZBRA	B	0.06%
LNT	A	0.06%
IRM	D	0.06%
APTV	D	0.06%
MRO	B	0.06%
RBA	A	0.06%
HOOD	B	0.06%
FNF	B	0.06%
DOC	D	0.06%
NI	A	0.06%
GEN	B	0.06%
KEY	B	0.06%
GPC	D	0.06%
AMCR	D	0.06%
QCOM	F	0.05%
FTI	A	0.05%
TECH	D	0.05%
AES	F	0.05%
SJM	D	0.05%
UHS	D	0.05%
BG	F	0.05%
CHRW	C	0.05%
CPT	B	0.05%
HST	C	0.05%
WPC	D	0.05%
COHR	B	0.05%
AMAT	F	0.05%
EMN	D	0.05%
BMRN	D	0.05%
CDW	F	0.05%
BXP	D	0.05%
JNPR	F	0.05%
EG	C	0.05%
ELS	C	0.05%
DLTR	F	0.05%
NTAP	C	0.05%
REG	B	0.05%
JKHY	D	0.05%
HES	B	0.05%
EVRG	A	0.05%
FFIV	B	0.05%
WST	C	0.04%
JLL	D	0.04%
HRL	D	0.04%
TW	A	0.04%
CPB	D	0.04%
HSIC	B	0.04%
DRI	B	0.04%
LAD	A	0.04%
AOS	F	0.04%
FRT	B	0.04%
CRL	C	0.04%
FTNT	C	0.04%
MTCH	D	0.04%
REXR	F	0.04%
AFG	A	0.04%
GL	B	0.04%
DPZ	C	0.04%
QGEN	D	0.04%
TFX	F	0.04%
BKNG	A	0.04%
TAP	C	0.04%
DAY	B	0.04%
LKQ	D	0.04%
FOXA	B	0.04%
WTRG	B	0.04%
CNH	C	0.04%
EPAM	C	0.04%
WWD	B	0.04%
ARMK	B	0.04%
PNW	B	0.04%
DOX	D	0.04%
EL	F	0.04%
CE	F	0.04%
FBIN	D	0.04%
NWSA	B	0.04%
AVY	D	0.04%
RPRX	D	0.04%
KMX	B	0.04%
CTLT	B	0.04%
PFGC	B	0.04%
MKTX	D	0.04%
CAH	B	0.04%
TWLO	A	0.04%
CCK	C	0.04%
CG	A	0.04%
INCY	C	0.04%
IPG	D	0.04%
NRG	B	0.04%
ATR	B	0.04%
ALB	C	0.04%
FDS	B	0.04%
OKTA	C	0.03%
ALGN	D	0.03%
XP	F	0.03%
SIRI	C	0.03%
BFAM	D	0.03%
CGNX	C	0.03%
PB	A	0.03%
OSK	B	0.03%
KEX	C	0.03%
G	B	0.03%
QRVO	F	0.03%
JAZZ	B	0.03%
FND	C	0.03%
MOH	F	0.03%
DASH	A	0.03%
FLS	B	0.03%
BIO	D	0.03%
GNTX	C	0.03%
MHK	D	0.03%
GXO	B	0.03%
FAST	B	0.03%
LBRDK	C	0.03%
FICO	B	0.03%
Z	A	0.03%
HII	D	0.03%
COLD	D	0.03%
ADC	B	0.03%
SKX	D	0.03%
SAIC	F	0.03%
SEIC	B	0.03%
WAT	B	0.03%
SHW	A	0.03%
MNST	C	0.03%
LW	C	0.03%
BWA	D	0.03%
EXAS	D	0.03%
MTZ	B	0.03%
RBC	A	0.03%
TKO	B	0.03%
FMC	D	0.03%
ECL	D	0.03%
CRBG	B	0.03%
KNX	B	0.03%
AAL	B	0.03%
RIVN	F	0.03%
ALLY	C	0.03%
ADP	B	0.03%
MGM	D	0.03%
MOS	F	0.03%
CZR	F	0.03%
PTC	A	0.03%
SNX	C	0.03%
INGR	B	0.03%
ALNY	D	0.02%
KMPR	B	0.02%
MSGS	A	0.02%
RH	B	0.02%
TYL	B	0.02%
PAYC	B	0.02%
GTES	A	0.02%
AWI	A	0.02%
CLF	F	0.02%
UHAL	D	0.02%
FRPT	B	0.02%
SLGN	A	0.02%
LITE	B	0.02%
DLB	B	0.02%
DBX	B	0.02%
AZO	C	0.02%
WLK	D	0.02%
AMP	A	0.02%
AL	B	0.02%
AVT	C	0.02%
OGN	D	0.02%
PSN	D	0.02%
ZG	A	0.02%
ORLY	B	0.02%
ST	F	0.02%
FNB	A	0.02%
FOX	A	0.02%
THG	A	0.02%
POST	C	0.02%
LEA	D	0.02%
H	B	0.02%
WHR	B	0.02%
OLLI	D	0.02%
MTDR	B	0.02%
COIN	C	0.02%
SRCL	C	0.02%
LNC	B	0.02%
BEN	C	0.02%
COLB	A	0.02%
ALK	C	0.02%
GWW	B	0.02%
DAR	C	0.02%
SNDR	B	0.01%
FTRE	D	0.01%
TER	D	0.01%
REYN	D	0.01%
LEG	F	0.01%
TRIP	F	0.01%
WOLF	F	0.01%
INFA	D	0.01%
LEN	D	0.01%
BIRK	D	0.01%
PPC	C	0.01%
QS	F	0.01%
UAA	C	0.01%
CRI	D	0.01%
PINC	B	0.01%
CNXC	F	0.01%
SAM	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%
RCM	F	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%
ULTA	F	0.01%
AGR	B	0.01%
COLM	B	0.01%
LOPE	B	0.01%
PAG	B	0.01%
AMKR	D	0.01%
NSA	D	0.01%
BHF	B	0.01%
PENN	C	0.01%
WU	D	0.01%
AMED	F	0.01%
CPRT	A	0.01%
IRDM	D	0.01%
SPR	D	0.01%
U	C	0.01%
NWS	B	0.01%
ZI	D	0.01%
CIVI	D	0.01%
DXC	B	0.01%
IAC	D	0.01%
NEU	C	0.01%
GFS	C	0.01%
CTAS	B	0.01%
UHAL	D	0.0%
UWMC	D	0.0%
SEG	B	0.0%
NFE	D	0.0%
TXG	F	0.0%
PLTK	B	0.0%
CHH	A	0.0%
UI	A	0.0%
TFSL	A	0.0%
SEB	F	0.0%
DJT	C	0.0%
HCP	B	0.0%
FIVE	F	0.0%
CNA	B	0.0%
DV	C	0.0%
NCNO	B	0.0%
CERT	F	0.0%

VONV Underweight 563 Positions Relative to SMLF

Symbol	Grade	Weight
APP	B	-1.49%
DECK	A	-0.72%
AXON	A	-0.66%
SFM	A	-0.6%
MANH	D	-0.5%
SLG	B	-0.49%
MLI	C	-0.49%
FIX	A	-0.44%
DUOL	A	-0.44%
COCO	B	-0.43%
PCOR	B	-0.42%
COOP	B	-0.41%
IOT	A	-0.41%
NTRA	B	-0.4%
GTLB	B	-0.39%
POWL	C	-0.38%
MEDP	D	-0.38%
WING	D	-0.36%
WFRD	D	-0.35%
PIPR	B	-0.34%
CAVA	B	-0.34%
WK	B	-0.34%
HSII	B	-0.31%
FLEX	A	-0.31%
MAC	B	-0.31%
ALKS	B	-0.3%
SPXC	A	-0.3%
CORT	B	-0.3%
ANF	C	-0.3%
EXE	B	-0.29%
STRL	B	-0.29%
INTA	A	-0.27%
SMAR	A	-0.26%
ESTC	C	-0.26%
SIG	B	-0.26%
MOD	A	-0.25%
HURN	B	-0.25%
TPX	B	-0.24%
CPRX	C	-0.24%
TREX	C	-0.24%
RMBS	C	-0.24%
SKT	B	-0.24%
HALO	F	-0.24%
IMKTA	C	-0.24%
ENTG	D	-0.23%
YOU	D	-0.23%
UFPI	B	-0.23%
EXLS	B	-0.23%
BCC	B	-0.22%
SANM	B	-0.22%
GPI	A	-0.22%
WS	B	-0.22%
AXSM	B	-0.22%
MATX	C	-0.21%
TOST	B	-0.21%
AZPN	A	-0.21%
SRPT	D	-0.2%
LIVN	F	-0.2%
RDDT	B	-0.2%
ELF	C	-0.2%
ATKR	C	-0.2%
DNLI	D	-0.2%
HAE	C	-0.2%
LUMN	C	-0.2%
TEX	D	-0.19%
RNG	B	-0.19%
JOE	F	-0.19%
NAVI	C	-0.19%
GH	B	-0.19%
MUR	D	-0.19%
PRGS	A	-0.18%
KNSL	B	-0.18%
XRX	F	-0.18%
TDOC	C	-0.18%
VCYT	B	-0.18%
FROG	C	-0.18%
AVNT	B	-0.18%
MMYT	B	-0.17%
ACLX	C	-0.17%
LNW	D	-0.17%
BRC	D	-0.17%
LNTH	D	-0.17%
PDM	D	-0.17%
PRG	C	-0.17%
KRG	B	-0.17%
XPO	B	-0.17%
EXTR	B	-0.17%
PRKS	C	-0.17%
JBSS	D	-0.17%
IVT	B	-0.16%
SRCE	B	-0.16%
BL	B	-0.16%
BMI	B	-0.16%
LRN	A	-0.16%
CVCO	A	-0.16%
CNO	A	-0.16%
PGRE	F	-0.16%
KFRC	D	-0.16%
GATX	A	-0.15%
LBTYA	B	-0.15%
SBGI	B	-0.15%
ONON	A	-0.15%
XNCR	B	-0.15%
GES	F	-0.15%
FTAI	B	-0.15%
ABG	B	-0.15%
SKY	A	-0.15%
AMR	C	-0.14%
UMBF	B	-0.14%
VSTO	A	-0.14%
IGT	F	-0.14%
BANF	B	-0.14%
MMSI	B	-0.14%
NOVT	D	-0.14%
PI	D	-0.14%
CMC	B	-0.14%
NJR	A	-0.14%
ENSG	D	-0.14%
YEXT	A	-0.14%
PCTY	B	-0.14%
AY	B	-0.14%
SPT	C	-0.14%
TPH	D	-0.14%
BLKB	B	-0.13%
VMEO	B	-0.13%
BPMC	C	-0.13%
IPAR	B	-0.13%
TNET	D	-0.13%
ACCO	C	-0.13%
OGS	A	-0.13%
BRZE	C	-0.13%
GOLF	B	-0.13%
RYAN	B	-0.13%
KAI	A	-0.13%
BDN	C	-0.13%
QLYS	C	-0.13%
SFBS	B	-0.13%
NUVL	D	-0.13%
SR	A	-0.12%
INSP	D	-0.12%
AROC	B	-0.12%
AWR	B	-0.12%
GEO	B	-0.12%
BASE	C	-0.12%
SATS	D	-0.12%
ACLS	F	-0.12%
GFF	A	-0.12%
BKE	B	-0.12%
AIT	A	-0.12%
CBT	C	-0.12%
BSY	D	-0.12%
WAFD	B	-0.12%
WTS	B	-0.12%
NTCT	C	-0.11%
FHI	A	-0.11%
CYTK	F	-0.11%
TXNM	A	-0.11%
LAZ	B	-0.11%
IBOC	A	-0.11%
SSTK	F	-0.11%
PTEN	C	-0.11%
OII	B	-0.11%
DFIN	D	-0.11%
LOVE	B	-0.11%
MFA	D	-0.11%
ACAD	D	-0.11%
HTH	B	-0.11%
CARG	C	-0.11%
SPSC	C	-0.11%
BAND	B	-0.11%
ODP	F	-0.11%
CHX	C	-0.11%
APOG	B	-0.11%
CXW	B	-0.11%
MCB	B	-0.11%
MDGL	B	-0.11%
NSP	D	-0.11%
BCRX	D	-0.11%
KW	B	-0.1%
MTRN	C	-0.1%
ASB	B	-0.1%
CHDN	B	-0.1%
HP	B	-0.1%
ACA	A	-0.1%
DNOW	B	-0.1%
BECN	B	-0.1%
EXPI	C	-0.1%
CRDO	B	-0.1%
VECO	F	-0.1%
CRC	B	-0.1%
ICFI	F	-0.1%
HOV	D	-0.1%
SYNA	C	-0.1%
ALX	D	-0.1%
CMPR	D	-0.1%
AGM	C	-0.1%
KLIC	B	-0.1%
INSM	C	-0.1%
VRNS	D	-0.1%
HIMS	B	-0.1%
VSH	D	-0.09%
PHIN	A	-0.09%
JACK	D	-0.09%
MRC	B	-0.09%
PCVX	D	-0.09%
HEES	B	-0.09%
ATEN	B	-0.09%
PBH	A	-0.09%
HI	C	-0.09%
LGND	B	-0.09%
VERA	B	-0.09%
LZ	D	-0.09%
FLG	C	-0.09%
IDCC	A	-0.09%
ALIT	C	-0.09%
TGNA	B	-0.09%
TMHC	B	-0.09%
INVA	D	-0.09%
COUR	F	-0.09%
UPBD	B	-0.09%
DVAX	C	-0.09%
AMLX	C	-0.09%
CUBI	C	-0.09%
CRS	A	-0.09%
EXPO	D	-0.09%
VC	D	-0.08%
FIVN	C	-0.08%
TENB	C	-0.08%
LILA	D	-0.08%
OPCH	D	-0.08%
HWC	B	-0.08%
CVLT	B	-0.08%
VIR	D	-0.08%
FLR	B	-0.08%
PEGA	A	-0.08%
CAL	D	-0.08%
SCS	C	-0.08%
OSCR	D	-0.08%
PD	C	-0.08%
KN	B	-0.08%
GMS	B	-0.08%
WOR	F	-0.08%
DLX	B	-0.08%
BOX	B	-0.08%
NSSC	D	-0.08%
AGX	B	-0.08%
CARS	B	-0.08%
BDC	B	-0.08%
ALV	C	-0.08%
CSWI	A	-0.08%
CNMD	C	-0.07%
UNIT	B	-0.07%
EQC	B	-0.07%
DH	D	-0.07%
HASI	D	-0.07%
AMRX	C	-0.07%
PEN	B	-0.07%
EYPT	F	-0.07%
MATV	D	-0.07%
RIG	D	-0.07%
AMPH	D	-0.07%
LXP	D	-0.07%
POR	C	-0.07%
AMPL	C	-0.07%
FLNC	C	-0.07%
WLY	B	-0.07%
NBR	C	-0.07%
EPAC	B	-0.07%
NTB	B	-0.07%
GKOS	B	-0.07%
DOMO	C	-0.07%
GCO	B	-0.07%
KNF	A	-0.07%
PLUS	F	-0.07%
SM	B	-0.07%
TXRH	C	-0.07%
SNEX	B	-0.07%
NARI	C	-0.07%
CEIX	A	-0.07%
WNC	C	-0.07%
AVXL	B	-0.06%
YELP	C	-0.06%
OXM	D	-0.06%
AVDX	B	-0.06%
GPMT	C	-0.06%
FN	D	-0.06%
TNC	D	-0.06%
NXT	C	-0.06%
ILPT	D	-0.06%
HWKN	B	-0.06%
AMCX	C	-0.06%
HCC	B	-0.06%
CNX	A	-0.06%
TRN	C	-0.06%
MCY	A	-0.06%
CTBI	B	-0.06%
ITCI	C	-0.06%
VKTX	F	-0.06%
RUSHA	C	-0.06%
FUN	C	-0.06%
ASO	F	-0.06%
LADR	B	-0.06%
NSIT	F	-0.06%
RDN	C	-0.06%
WTTR	B	-0.06%
IRTC	D	-0.06%
ADEA	D	-0.06%
BCO	D	-0.06%
SFL	D	-0.06%
AIV	C	-0.06%
ADMA	B	-0.06%
APPF	B	-0.06%
OTTR	C	-0.06%
HE	C	-0.06%
UVV	B	-0.06%
MED	F	-0.06%
FOLD	F	-0.05%
AVAV	D	-0.05%
ITGR	B	-0.05%
FFIN	B	-0.05%
CVBF	A	-0.05%
SONO	C	-0.05%
PZZA	D	-0.05%
ITRI	B	-0.05%
LBTYK	A	-0.05%
TILE	B	-0.05%
BEAM	D	-0.05%
CERS	C	-0.05%
AEO	F	-0.05%
BLMN	F	-0.05%
AMBC	C	-0.05%
HOUS	D	-0.05%
MERC	F	-0.05%
KOS	F	-0.05%
TARS	B	-0.05%
SMTC	B	-0.05%
ZIP	F	-0.05%
THR	B	-0.05%
APLS	D	-0.05%
ASAN	C	-0.05%
MDXG	B	-0.05%
WGO	C	-0.05%
CENTA	C	-0.05%
ARWR	F	-0.04%
HPP	F	-0.04%
DAWN	F	-0.04%
CORZ	A	-0.04%
PFSI	D	-0.04%
KREF	D	-0.04%
OUT	A	-0.04%
DIN	C	-0.04%
LPG	F	-0.04%
FLYW	C	-0.04%
AGS	A	-0.04%
IDT	B	-0.04%
ENS	D	-0.04%
SANA	F	-0.04%
TPB	B	-0.04%
SAH	A	-0.04%
ANAB	F	-0.04%
NATL	B	-0.04%
HELE	C	-0.04%
RVMD	C	-0.04%
KLG	C	-0.04%
CELH	F	-0.04%
AGYS	A	-0.04%
ARRY	C	-0.04%
CFFN	B	-0.04%
OMI	F	-0.04%
HLF	C	-0.04%
ANGI	D	-0.04%
IBP	D	-0.04%
NHI	D	-0.04%
HSTM	B	-0.04%
MMS	F	-0.04%
BCPC	B	-0.04%
TDS	B	-0.04%
IOSP	B	-0.04%
RCUS	F	-0.04%
JANX	C	-0.03%
SWIM	C	-0.03%
ALHC	C	-0.03%
VIAV	B	-0.03%
ALRM	C	-0.03%
RDFN	D	-0.03%
ADT	C	-0.03%
MOG.A	B	-0.03%
LTH	C	-0.03%
SUPN	C	-0.03%
FL	F	-0.03%
VNDA	C	-0.03%
RGNX	F	-0.03%
EVTC	B	-0.03%
VCEL	B	-0.03%
NX	C	-0.03%
EMBC	C	-0.03%
TGTX	B	-0.03%
BBIO	F	-0.03%
QXO	D	-0.03%
OFIX	B	-0.03%
XHR	B	-0.03%
QDEL	F	-0.03%
REVG	B	-0.03%
SNBR	F	-0.03%
RYI	C	-0.03%
CHWY	B	-0.03%
IESC	B	-0.03%
UDMY	F	-0.03%
ARCH	B	-0.03%
SLAB	D	-0.03%
BRSP	B	-0.03%
CDP	C	-0.03%
MGNI	A	-0.03%
HNI	B	-0.03%
AMN	F	-0.03%
ACCD	D	-0.03%
VITL	D	-0.03%
CGEM	F	-0.03%
IVR	F	-0.03%
TCBI	B	-0.03%
RPD	C	-0.03%
SPRY	D	-0.03%
ATRC	C	-0.03%
CNS	B	-0.03%
UVE	B	-0.03%
NRC	F	-0.03%
OI	C	-0.03%
BKD	D	-0.03%
CVI	F	-0.03%
RXT	C	-0.02%
ERAS	C	-0.02%
WOOF	D	-0.02%
SSB	B	-0.02%
SLVM	B	-0.02%
OSIS	B	-0.02%
TSE	F	-0.02%
KVYO	C	-0.02%
UNFI	A	-0.02%
ARCT	F	-0.02%
OMER	A	-0.02%
BRY	F	-0.02%
DYN	F	-0.02%
EVH	F	-0.02%
PRO	C	-0.02%
RAMP	C	-0.02%
QRTEA	F	-0.02%
GPRO	F	-0.02%
SAFE	D	-0.02%
KFY	B	-0.02%
JELD	F	-0.02%
EDR	A	-0.02%
KRNY	B	-0.02%
DAN	D	-0.02%
DOCN	D	-0.02%
ALAB	B	-0.02%
EVRI	A	-0.02%
NUS	D	-0.02%
BMBL	C	-0.02%
OPI	F	-0.02%
IRWD	F	-0.02%
FSS	B	-0.02%
MTW	C	-0.02%
DY	D	-0.02%
DBI	F	-0.02%
LMAT	A	-0.02%
RLJ	C	-0.02%
PBF	D	-0.02%
CRSP	D	-0.02%
TLRY	F	-0.02%
SITC	D	-0.02%
SVC	F	-0.02%
TWO	D	-0.02%
CNDT	C	-0.02%
OPEN	D	-0.02%
SNDX	F	-0.02%
WD	D	-0.02%
AKRO	B	-0.02%
PTCT	B	-0.02%
GIII	D	-0.02%
USNA	C	-0.02%
LANC	C	-0.02%
ARCB	C	-0.02%
PDCO	D	-0.02%
CALX	D	-0.02%
CWK	B	-0.01%
VAL	D	-0.01%
PGEN	F	-0.01%
AIN	C	-0.01%
ARR	D	-0.01%
PEB	D	-0.01%
JAMF	F	-0.01%
PCH	D	-0.01%
EPC	D	-0.01%
SFIX	B	-0.01%
POWI	D	-0.01%
FLWS	F	-0.01%
TDC	D	-0.01%
XPRO	F	-0.01%
MBC	D	-0.01%
BIGC	C	-0.01%
MLAB	D	-0.01%
JOBY	B	-0.01%
UTL	B	-0.01%
WTI	F	-0.01%
ZUO	B	-0.01%
NWN	A	-0.01%
BKH	A	-0.01%
CRAI	B	-0.01%
SWI	B	-0.01%
MITK	C	-0.01%
NTLA	F	-0.01%
VRE	B	-0.01%
TR	B	-0.01%
TTGT	C	-0.01%
SWX	B	-0.01%
HCAT	D	-0.01%
OIS	C	-0.01%
RBRK	A	-0.01%
NGVT	B	-0.01%
HQY	B	-0.01%
ENVA	B	-0.01%
HMST	D	-0.01%
CAKE	C	-0.01%
STGW	B	-0.01%
OLPX	D	-0.01%
ENR	B	-0.01%
BSIG	A	-0.01%
GEF	A	-0.01%
RHP	B	-0.01%
ASGN	F	-0.01%
HTZ	C	-0.01%
MBLY	C	-0.01%
OSUR	F	-0.01%
HAIN	C	-0.01%
SWTX	C	-0.01%
KALU	C	-0.01%
NEXA	C	-0.01%
UPWK	B	-0.01%
NFBK	B	-0.01%
SHO	C	-0.01%
AEIS	B	-0.01%
MAGN	F	-0.0%
BFH	B	-0.0%
MC	C	-0.0%
CHCO	B	-0.0%
GDOT	D	-0.0%
NBTB	B	-0.0%
EGBN	B	-0.0%
FULT	A	-0.0%
EIG	B	-0.0%
JXN	C	-0.0%
BOH	B	-0.0%
DEI	B	-0.0%
TRMK	B	-0.0%
GNW	A	-0.0%
PFBC	B	-0.0%
CASH	A	-0.0%
TBBK	B	-0.0%
FBP	B	-0.0%
PRDO	B	-0.0%
BKU	A	-0.0%
AX	A	-0.0%
OFG	B	-0.0%