VTWG vs. QVMS ETF Comparison

Comparison of Vanguard Russell 2000 Growth ETF (VTWG) to Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS)

VTWG

Vanguard Russell 2000 Growth ETF

VTWG Description

The investment seeks to track the performance of a benchmark index that measures the investment return of small-capitalization growth stocks in the United States. The fund employs an indexing investment approach designed to track the performance of the Russell 2000® Growth Index. The index is designed to measure the performance of small-capitalization growth 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

$223.58

Average Daily Volume

33,079

Number of Holdings ^*

967

* may have additional holdings in another (foreign) market

QVMS

Invesco S&P SmallCap 600 QVM Multi-factor ETF

QVMS Description

The investment seeks to track the investment results of the S&P SmallCap 600 ® Quality, Value & Momentum Top 90% Multi- Factor Index (the “underlying index”). The fund will invest at least 90% of its total assets in the securities that comprise the index. S&P Dow Jones Indices LLC compiles, maintains and calculates the index, designed to track the performance of a subset of securities from the S&P SmallCap 600 ® Index that exhibit the investment style criteria of quality, value and momentum. The index is composed of securities with multi-factor scores representing the top 90% of the parent index, as determined by the index provider. It is non-diversified.

Grade (RS Rating)

Last Trade

$28.90

Average Daily Volume

483

Number of Holdings ^*

523

* may have additional holdings in another (foreign) market

Performance

Period	VTWG	QVMS
30 Days	6.52%	7.00%
60 Days	7.41%	6.30%
90 Days	8.38%	6.54%
12 Months	36.87%	30.65%

257 Overlapping Holdings

	Symbol	Grade	Weight in VTWG	Weight in QVMS	Overlap
	ACIW	B	0.38%	0.47%	0.38%
	ACLS	F	0.21%	0.21%	0.21%
	ADUS	D	0.06%	0.17%	0.06%
	AEIS	C	0.3%	0.35%	0.3%
	AEO	F	0.21%	0.27%	0.21%
	AGYS	A	0.17%	0.2%	0.17%
	AHCO	F	0.03%	0.06%	0.03%
	AHH	D	0.0%	0.06%	0.0%
	AIN	C	0.04%	0.21%	0.04%
	AIR	B	0.03%	0.17%	0.03%
	ALG	B	0.13%	0.16%	0.13%
	ALKS	C	0.31%	0.39%	0.31%
	ALRM	C	0.19%	0.25%	0.19%
	AMN	F	0.11%	0.09%	0.09%
	AMR	C	0.17%	0.26%	0.17%
	AMSF	B	0.03%	0.09%	0.03%
	AMWD	C	0.01%	0.13%	0.01%
	ANDE	D	0.01%	0.13%	0.01%
	ANIP	F	0.06%	0.08%	0.06%
	AORT	B	0.06%	0.09%	0.06%
	APAM	B	0.21%	0.26%	0.21%
	APOG	C	0.04%	0.15%	0.04%
	ARCB	C	0.18%	0.21%	0.18%
	ARLO	C	0.07%	0.09%	0.07%
	AROC	A	0.25%	0.28%	0.25%
	ASO	F	0.07%	0.28%	0.07%
	ASTH	F	0.17%	0.13%	0.13%
	ATEN	A	0.08%	0.09%	0.08%
	ATGE	B	0.04%	0.26%	0.04%
	AVAV	C	0.42%	0.48%	0.42%
	AWR	B	0.13%	0.24%	0.13%
	AX	B	0.03%	0.35%	0.03%
	AZZ	A	0.14%	0.21%	0.14%
	BANF	B	0.02%	0.14%	0.02%
	BCC	B	0.19%	0.47%	0.19%
	BCPC	B	0.4%	0.47%	0.4%
	BFS	C	0.03%	0.04%	0.03%
	BJRI	C	0.03%	0.07%	0.03%
	BKE	B	0.1%	0.11%	0.1%
	BL	B	0.23%	0.24%	0.23%
	BLFS	C	0.06%	0.07%	0.06%
	BLMN	F	0.05%	0.1%	0.05%
	BMI	B	0.44%	0.5%	0.44%
	BOOT	C	0.27%	0.28%	0.27%
	CAKE	C	0.17%	0.18%	0.17%
	CAL	F	0.02%	0.08%	0.02%
	CALM	A	0.02%	0.29%	0.02%
	CALX	D	0.11%	0.14%	0.11%
	CARG	B	0.2%	0.22%	0.2%
	CASH	B	0.04%	0.16%	0.04%
	CBRL	C	0.02%	0.09%	0.02%
	CCOI	B	0.26%	0.25%	0.25%
	CCS	D	0.02%	0.2%	0.02%
	CENTA	C	0.02%	0.17%	0.02%
	CENX	B	0.07%	0.09%	0.07%
	CEVA	B	0.03%	0.05%	0.03%
	CHCO	B	0.01%	0.15%	0.01%
	CHEF	A	0.1%	0.12%	0.1%
	CLB	B	0.07%	0.08%	0.07%
	CNK	C	0.19%	0.25%	0.19%
	CNMD	C	0.16%	0.17%	0.16%
	CNS	B	0.2%	0.2%	0.2%
	COLL	F	0.08%	0.08%	0.08%
	COOP	B	0.15%	0.51%	0.15%
	CORT	B	0.29%	0.38%	0.29%
	CPRX	C	0.18%	0.19%	0.18%
	CRS	B	0.53%	0.69%	0.53%
	CRSR	C	0.0%	0.03%	0.0%
	CRVL	B	0.2%	0.25%	0.2%
	CSGS	B	0.1%	0.13%	0.1%
	CTRE	C	0.03%	0.32%	0.03%
	CTS	C	0.09%	0.14%	0.09%
	CVCO	A	0.25%	0.28%	0.25%
	CVI	F	0.04%	0.05%	0.04%
	CWT	C	0.06%	0.23%	0.06%
	CXM	C	0.07%	0.08%	0.07%
	DFIN	D	0.07%	0.12%	0.07%
	DIOD	D	0.02%	0.22%	0.02%
	DORM	B	0.22%	0.3%	0.22%
	DXPE	C	0.0%	0.08%	0.0%
	DY	D	0.37%	0.39%	0.37%
	EAT	A	0.3%	0.4%	0.3%
	ENR	B	0.17%	0.19%	0.17%
	ENV	B	0.24%	0.24%	0.24%
	EPAC	C	0.18%	0.21%	0.18%
	ESE	B	0.12%	0.28%	0.12%
	EVTC	B	0.16%	0.17%	0.16%
	EXPI	D	0.08%	0.07%	0.07%
	EYE	C	0.0%	0.07%	0.0%
	FBP	C	0.02%	0.28%	0.02%
	FELE	B	0.32%	0.35%	0.32%
	FIZZ	C	0.08%	0.09%	0.08%
	FORM	D	0.22%	0.26%	0.22%
	FSS	B	0.36%	0.47%	0.36%
	FTDR	B	0.29%	0.33%	0.29%
	FUL	F	0.08%	0.34%	0.08%
	GFF	A	0.18%	0.23%	0.18%
	GKOS	B	0.48%	0.56%	0.48%
	GMS	B	0.24%	0.31%	0.24%
	GOGO	C	0.01%	0.04%	0.01%
	GRBK	D	0.04%	0.14%	0.04%
	GSHD	A	0.18%	0.24%	0.18%
	GVA	A	0.23%	0.33%	0.23%
	HBI	B	0.18%	0.21%	0.18%
	HCI	C	0.07%	0.06%	0.06%
	HI	C	0.05%	0.22%	0.05%
	HLIT	D	0.09%	0.11%	0.09%
	HLX	B	0.02%	0.14%	0.02%
	HNI	B	0.08%	0.21%	0.08%
	HRMY	D	0.07%	0.08%	0.07%
	HSTM	B	0.02%	0.06%	0.02%
	HTLD	C	0.02%	0.04%	0.02%
	HWKN	B	0.15%	0.2%	0.15%
	IBP	D	0.38%	0.4%	0.38%
	ICHR	C	0.02%	0.09%	0.02%
	IDCC	B	0.28%	0.36%	0.28%
	IIIN	C	0.02%	0.05%	0.02%
	INVA	D	0.01%	0.08%	0.01%
	IOSP	C	0.17%	0.25%	0.17%
	IPAR	B	0.16%	0.2%	0.16%
	ITGR	B	0.21%	0.36%	0.21%
	ITRI	C	0.34%	0.42%	0.34%
	JBSS	F	0.05%	0.06%	0.05%
	JBT	B	0.02%	0.3%	0.02%
	JJSF	C	0.19%	0.21%	0.19%
	JOE	F	0.14%	0.14%	0.14%
	KALU	C	0.08%	0.11%	0.08%
	KLG	B	0.08%	0.08%	0.08%
	KLIC	B	0.18%	0.21%	0.18%
	KREF	C	0.01%	0.05%	0.01%
	KRYS	C	0.32%	0.33%	0.32%
	KTB	B	0.35%	0.35%	0.35%
	KWR	C	0.16%	0.19%	0.16%
	LBRT	D	0.01%	0.22%	0.01%
	LCII	C	0.2%	0.23%	0.2%
	LGIH	F	0.01%	0.17%	0.01%
	LKFN	C	0.01%	0.15%	0.01%
	LMAT	A	0.13%	0.16%	0.13%
	LNN	B	0.05%	0.11%	0.05%
	LPG	F	0.04%	0.08%	0.04%
	LQDT	B	0.03%	0.04%	0.03%
	LRN	A	0.29%	0.32%	0.29%
	MARA	B	0.28%	0.45%	0.28%
	MC	C	0.35%	0.43%	0.35%
	MCRI	A	0.07%	0.08%	0.07%
	MCW	C	0.05%	0.06%	0.05%
	MCY	A	0.02%	0.17%	0.02%
	MGEE	B	0.1%	0.29%	0.1%
	MGPI	F	0.05%	0.06%	0.05%
	MGY	A	0.3%	0.41%	0.3%
	MLAB	F	0.01%	0.04%	0.01%
	MLI	B	0.63%	0.84%	0.63%
	MMSI	A	0.42%	0.44%	0.42%
	MOG.A	B	0.4%	0.5%	0.4%
	MRTN	D	0.01%	0.08%	0.01%
	MSEX	C	0.01%	0.09%	0.01%
	MTRN	C	0.15%	0.21%	0.15%
	MYE	F	0.03%	0.04%	0.03%
	MYRG	B	0.16%	0.21%	0.16%
	NABL	F	0.06%	0.06%	0.06%
	NBR	C	0.02%	0.06%	0.02%
	NEO	C	0.01%	0.16%	0.01%
	NMIH	C	0.02%	0.24%	0.02%
	NOG	B	0.02%	0.33%	0.02%
	NPO	A	0.02%	0.28%	0.02%
	NSIT	F	0.36%	0.35%	0.35%
	NVEE	F	0.02%	0.09%	0.02%
	OII	B	0.18%	0.25%	0.18%
	OMI	F	0.01%	0.07%	0.01%
	OSIS	A	0.15%	0.19%	0.15%
	OTTR	C	0.11%	0.28%	0.11%
	OXM	F	0.06%	0.09%	0.06%
	PAHC	C	0.01%	0.04%	0.01%
	PATK	C	0.2%	0.21%	0.2%
	PAYO	A	0.14%	0.21%	0.14%
	PCRX	C	0.0%	0.07%	0.0%
	PDCO	F	0.02%	0.13%	0.02%
	PECO	A	0.05%	0.35%	0.05%
	PIPR	A	0.36%	0.42%	0.36%
	PJT	A	0.24%	0.28%	0.24%
	PLAB	C	0.04%	0.14%	0.04%
	PLAY	D	0.09%	0.09%	0.09%
	PLMR	A	0.16%	0.21%	0.16%
	PLUS	F	0.12%	0.18%	0.12%
	PLXS	B	0.09%	0.33%	0.09%
	POWL	C	0.18%	0.22%	0.18%
	PRG	C	0.02%	0.17%	0.02%
	PRGS	A	0.2%	0.22%	0.2%
	PRVA	C	0.14%	0.19%	0.14%
	PSMT	D	0.1%	0.18%	0.1%
	PTGX	D	0.2%	0.17%	0.17%
	QNST	B	0.08%	0.08%	0.08%
	RAMP	B	0.12%	0.15%	0.12%
	RCUS	F	0.06%	0.06%	0.06%
	RDNT	B	0.32%	0.43%	0.32%
	REX	D	0.01%	0.06%	0.01%
	RGR	F	0.01%	0.05%	0.01%
	ROCK	C	0.07%	0.17%	0.07%
	RXO	D	0.28%	0.27%	0.27%
	SAH	C	0.02%	0.08%	0.02%
	SCL	C	0.01%	0.13%	0.01%
	SEM	B	0.18%	0.32%	0.18%
	SFBS	C	0.09%	0.38%	0.09%
	SHAK	C	0.34%	0.35%	0.34%
	SHOO	F	0.24%	0.24%	0.24%
	SITM	B	0.23%	0.28%	0.23%
	SKT	A	0.1%	0.29%	0.1%
	SLP	D	0.03%	0.04%	0.03%
	SLVM	B	0.05%	0.24%	0.05%
	SM	B	0.06%	0.45%	0.06%
	SMPL	B	0.23%	0.24%	0.23%
	SNCY	C	0.02%	0.04%	0.02%
	SNEX	B	0.02%	0.21%	0.02%
	SONO	C	0.1%	0.14%	0.1%
	SPNT	B	0.01%	0.11%	0.01%
	SPSC	D	0.45%	0.54%	0.45%
	SSTK	F	0.05%	0.06%	0.05%
	STAA	F	0.11%	0.11%	0.11%
	STEP	C	0.28%	0.27%	0.27%
	SUPN	C	0.01%	0.17%	0.01%
	SXI	B	0.12%	0.2%	0.12%
	SXT	C	0.22%	0.26%	0.22%
	TBBK	B	0.18%	0.24%	0.18%
	TDW	F	0.22%	0.25%	0.22%
	TFIN	B	0.13%	0.18%	0.13%
	THRM	F	0.1%	0.12%	0.1%
	THRY	D	0.03%	0.03%	0.03%
	TILE	B	0.01%	0.12%	0.01%
	TNC	D	0.05%	0.14%	0.05%
	TPH	D	0.08%	0.32%	0.08%
	TRN	B	0.19%	0.25%	0.19%
	TRUP	B	0.13%	0.15%	0.13%
	UCTT	D	0.11%	0.13%	0.11%
	UFPT	C	0.14%	0.19%	0.14%
	UHT	D	0.03%	0.04%	0.03%
	UPBD	B	0.12%	0.12%	0.12%
	URBN	C	0.05%	0.17%	0.05%
	USPH	B	0.09%	0.11%	0.09%
	VCEL	B	0.16%	0.23%	0.16%
	VECO	F	0.1%	0.14%	0.1%
	VICR	C	0.04%	0.1%	0.04%
	VRRM	F	0.32%	0.3%	0.3%
	VRTS	B	0.09%	0.13%	0.09%
	VSCO	C	0.04%	0.24%	0.04%
	VVI	C	0.06%	0.08%	0.06%
	WD	D	0.19%	0.29%	0.19%
	WDFC	B	0.26%	0.3%	0.26%
	WERN	C	0.02%	0.2%	0.02%
	WHD	B	0.29%	0.36%	0.29%
	WKC	C	0.01%	0.13%	0.01%
	WOR	F	0.08%	0.1%	0.08%
	WRLD	C	0.03%	0.03%	0.03%
	WT	A	0.11%	0.1%	0.1%
	WWW	A	0.09%	0.14%	0.09%
	XNCR	B	0.04%	0.09%	0.04%
	XPEL	B	0.07%	0.07%	0.07%
	YELP	C	0.17%	0.19%	0.17%

VTWG Overweight 710 Positions Relative to QVMS

	Symbol	Grade	Weight
	SFM	A	0.96%
	PCVX	D	0.94%
	INSM	C	0.78%
	AIT	B	0.66%
	FN	C	0.65%
	ENSG	C	0.64%
	FLR	B	0.61%
	LNTH	D	0.56%
	HQY	A	0.53%
	HLNE	B	0.51%
	ANF	F	0.49%
	EXLS	B	0.48%
	HALO	F	0.47%
	CVLT	B	0.47%
	RHP	B	0.46%
	CWST	A	0.45%
	MOD	A	0.45%
	NOVT	D	0.45%
	HRI	C	0.44%
	ALTR	B	0.44%
	CBT	D	0.43%
	CSWI	B	0.43%
	BECN	B	0.41%
	BPMC	B	0.41%
	KNF	B	0.41%
	VRNS	D	0.41%
	CHX	C	0.4%
	WTS	B	0.39%
	MMS	F	0.39%
	RVMD	C	0.39%
	RMBS	B	0.38%
	GTLS	A	0.38%
	ZETA	D	0.37%
	QTWO	A	0.37%
	CRDO	B	0.36%
	CRNX	C	0.36%
	ZWS	B	0.36%
	STRL	A	0.35%
	TENB	C	0.35%
	FFIN	B	0.35%
	SIGI	C	0.35%
	EXPO	D	0.35%
	MDGL	B	0.34%
	RNA	C	0.34%
	BCO	F	0.34%
	QLYS	B	0.33%
	BOX	B	0.33%
	PI	D	0.32%
	UFPI	C	0.31%
	WK	B	0.3%
	KAI	B	0.29%
	CWAN	B	0.29%
	RKLB	A	0.28%
	UPST	B	0.28%
	PRCT	B	0.28%
	ACLX	C	0.27%
	ADMA	B	0.27%
	TGTX	B	0.26%
	ENS	F	0.26%
	SGBX	F	0.26%
	HAE	C	0.26%
	AXNX	A	0.26%
	HIMS	B	0.26%
	SLAB	F	0.25%
	FOLD	F	0.25%
	MWA	B	0.25%
	ROAD	B	0.25%
	LANC	C	0.25%
	POWI	F	0.25%
	YOU	D	0.24%
	AXSM	B	0.24%
	OSCR	D	0.24%
	CBZ	B	0.24%
	NUVL	C	0.23%
	PRIM	A	0.23%
	BLKB	B	0.23%
	ATKR	D	0.23%
	ICFI	F	0.23%
	UEC	B	0.22%
	MGRC	B	0.21%
	NSP	F	0.21%
	SMTC	B	0.21%
	IOVA	F	0.2%
	EVH	F	0.2%
	PTON	A	0.2%
	TNET	F	0.2%
	HGV	C	0.2%
	NARI	C	0.19%
	ACVA	B	0.19%
	GH	B	0.19%
	DOCN	C	0.19%
	RYTM	C	0.19%
	AUR	C	0.19%
	TMDX	F	0.19%
	COMP	B	0.18%
	FRSH	B	0.18%
	CLSK	C	0.18%
	EWTX	C	0.18%
	VCTR	B	0.18%
	BDC	C	0.18%
	VC	F	0.18%
	RPD	B	0.18%
	SKY	A	0.17%
	VERX	A	0.17%
	IRTC	C	0.17%
	ARWR	D	0.17%
	MQ	D	0.17%
	PTCT	B	0.17%
	TWST	F	0.17%
	DYN	F	0.17%
	IDYA	F	0.17%
	INTA	B	0.15%
	PAR	A	0.15%
	VAL	F	0.15%
	TNDM	D	0.15%
	HURN	C	0.15%
	BBIO	F	0.15%
	KYMR	D	0.15%
	SWTX	C	0.15%
	BRZE	C	0.15%
	AI	B	0.15%
	FLYW	B	0.15%
	DNLI	D	0.14%
	OPCH	D	0.14%
	LAUR	A	0.14%
	NATL	B	0.14%
	JOBY	B	0.14%
	LBPH	A	0.14%
	AMPH	F	0.14%
	VYX	B	0.13%
	IMVT	F	0.13%
	KROS	D	0.13%
	BE	B	0.13%
	ACAD	C	0.13%
	SRRK	C	0.13%
	OSW	B	0.13%
	KOS	D	0.13%
	GOLF	B	0.13%
	IESC	C	0.13%
	RXST	F	0.13%
	HEES	C	0.12%
	VERA	C	0.12%
	NVCR	C	0.12%
	AGX	B	0.12%
	TARS	C	0.12%
	OCUL	D	0.12%
	ALKT	B	0.12%
	BCRX	D	0.12%
	STNE	F	0.12%
	PD	C	0.12%
	GERN	D	0.12%
	ARVN	F	0.12%
	UPWK	B	0.12%
	WULF	C	0.11%
	MNKD	C	0.11%
	APPN	B	0.11%
	CSTM	F	0.11%
	PFSI	C	0.11%
	SOUN	B	0.11%
	WRBY	A	0.11%
	AGM	B	0.11%
	KTOS	B	0.11%
	MIRM	B	0.11%
	RXRX	F	0.11%
	JANX	C	0.11%
	SMR	B	0.11%
	NGVT	B	0.11%
	TGLS	B	0.11%
	SMMT	D	0.11%
	SNDX	F	0.11%
	SPT	C	0.1%
	FLNC	D	0.1%
	AESI	B	0.1%
	BLBD	D	0.1%
	NSSC	D	0.1%
	INFN	D	0.1%
	JAMF	F	0.1%
	ARDX	F	0.1%
	CLDX	F	0.1%
	HROW	D	0.1%
	ZUO	B	0.1%
	ENVX	F	0.1%
	MGNI	B	0.1%
	RRR	F	0.09%
	USLM	A	0.09%
	LOB	C	0.09%
	CRAI	C	0.09%
	RDFN	D	0.09%
	KURA	F	0.09%
	ALHC	C	0.09%
	DVAX	C	0.09%
	PGNY	F	0.09%
	PZZA	F	0.09%
	PHR	F	0.08%
	ERII	D	0.08%
	CGON	F	0.08%
	ATRC	C	0.08%
	BKD	F	0.08%
	CWH	B	0.08%
	OUT	A	0.08%
	SAVA	C	0.08%
	JBI	F	0.08%
	IMAX	B	0.08%
	LEU	C	0.08%
	NVAX	F	0.08%
	HLIO	B	0.08%
	REVG	C	0.08%
	KFRC	D	0.08%
	NRIX	C	0.08%
	RCKT	F	0.08%
	AMBA	B	0.08%
	VITL	D	0.08%
	AMRX	C	0.08%
	SPNS	F	0.08%
	PDFS	C	0.07%
	DRVN	B	0.07%
	PRO	C	0.07%
	EOLS	D	0.07%
	WVE	C	0.07%
	CDRE	F	0.07%
	PNTG	D	0.07%
	SHLS	F	0.07%
	ASGN	F	0.07%
	GPOR	B	0.07%
	ELVN	D	0.07%
	WLY	B	0.07%
	RVLV	A	0.07%
	COUR	F	0.07%
	JACK	C	0.07%
	ASAN	B	0.07%
	SDGR	C	0.07%
	DNUT	F	0.07%
	MXL	C	0.07%
	COGT	D	0.07%
	VZIO	A	0.07%
	ARRY	F	0.07%
	VRDN	D	0.07%
	EXTR	C	0.07%
	LMND	B	0.07%
	UDMY	D	0.06%
	YEXT	B	0.06%
	UTZ	D	0.06%
	LMB	B	0.06%
	GRC	A	0.06%
	AGL	F	0.06%
	PAGS	F	0.06%
	ATEC	C	0.06%
	CMPR	D	0.06%
	MRVI	F	0.06%
	RSI	A	0.06%
	MEG	F	0.06%
	XMTR	B	0.06%
	DFH	D	0.06%
	BBSI	B	0.06%
	BLND	A	0.06%
	IE	C	0.06%
	AMSC	B	0.06%
	TRNS	D	0.06%
	OEC	C	0.06%
	NNBR	C	0.06%
	ARQT	B	0.06%
	PUBM	C	0.05%
	SGHC	A	0.05%
	RVNC	F	0.05%
	BASE	B	0.05%
	LQDA	F	0.05%
	PAX	C	0.05%
	GSAT	C	0.05%
	ACMR	D	0.05%
	UTI	B	0.05%
	ZIP	D	0.05%
	DBRG	F	0.05%
	CCB	A	0.05%
	NEXT	C	0.05%
	DAWN	D	0.05%
	GDYN	B	0.05%
	IBUY	B	0.05%
	TPB	B	0.05%
	CECO	B	0.05%
	ACHR	B	0.05%
	AUPH	B	0.05%
	CGEM	F	0.05%
	SPRY	C	0.05%
	BSIG	A	0.05%
	KBH	D	0.05%
	TTGT	B	0.05%
	FSLY	D	0.05%
	CASS	C	0.04%
	DJCO	B	0.04%
	ALX	D	0.04%
	BBW	C	0.04%
	CTLP	B	0.04%
	PRMW	C	0.04%
	HLF	C	0.04%
	CRMD	C	0.04%
	IDT	B	0.04%
	APLT	C	0.04%
	MAX	F	0.04%
	FWRG	C	0.04%
	ABUS	D	0.04%
	EU	D	0.04%
	REAX	D	0.04%
	TREE	F	0.04%
	YMAB	F	0.04%
	INOD	B	0.04%
	CYTK	F	0.04%
	WEAV	C	0.04%
	APLD	B	0.04%
	PTLO	F	0.04%
	HCKT	B	0.04%
	IBTA	C	0.04%
	IMXI	B	0.04%
	ACEL	C	0.04%
	AIV	C	0.04%
	EVRI	A	0.04%
	OSPN	A	0.04%
	LPRO	B	0.04%
	NRDS	C	0.04%
	CDMO	A	0.04%
	KRUS	B	0.04%
	IMNM	F	0.04%
	AXGN	C	0.04%
	CIFR	C	0.04%
	TYRA	F	0.03%
	PBI	B	0.03%
	LRMR	D	0.03%
	AKRO	B	0.03%
	DSGR	C	0.03%
	RIOT	C	0.03%
	URGN	F	0.03%
	MLNK	C	0.03%
	GIC	D	0.03%
	ARCT	F	0.03%
	NVEC	B	0.03%
	BYND	F	0.03%
	MNTK	F	0.03%
	BIGC	B	0.03%
	ARHS	F	0.03%
	LWLG	D	0.03%
	PX	A	0.03%
	MDXG	B	0.03%
	MIR	A	0.03%
	CSV	B	0.03%
	SKWD	A	0.03%
	AEHR	F	0.03%
	CELC	F	0.03%
	IRMD	C	0.03%
	PPTA	C	0.03%
	KALV	F	0.03%
	MITK	C	0.03%
	ALEC	F	0.03%
	ESQ	B	0.03%
	EAF	C	0.03%
	CBL	B	0.03%
	FA	C	0.03%
	TTI	B	0.03%
	JELD	F	0.03%
	PRTA	F	0.03%
	GCMG	B	0.03%
	ANAB	F	0.03%
	PLOW	D	0.03%
	LFST	B	0.03%
	BAND	B	0.03%
	ENFN	B	0.03%
	CAPR	C	0.03%
	HY	D	0.03%
	STOK	F	0.03%
	FC	F	0.03%
	DMRC	B	0.03%
	FLNG	C	0.03%
	HUMA	F	0.03%
	AGS	A	0.03%
	XERS	C	0.03%
	EVER	D	0.03%
	SIBN	F	0.03%
	MNMD	C	0.03%
	CRGY	B	0.03%
	SANA	F	0.03%
	SEMR	C	0.03%
	SYNA	C	0.02%
	NATH	C	0.02%
	INSE	C	0.02%
	WTI	F	0.02%
	SERA	F	0.02%
	LOVE	A	0.02%
	PRME	F	0.02%
	ABSI	F	0.02%
	EWCZ	F	0.02%
	TRAK	B	0.02%
	EB	C	0.02%
	LAZR	D	0.02%
	TMCI	C	0.02%
	ASPN	F	0.02%
	OCGN	F	0.02%
	DENN	D	0.02%
	LIND	C	0.02%
	LUNG	F	0.02%
	CYRX	F	0.02%
	IGMS	F	0.02%
	TDOC	C	0.02%
	NTST	C	0.02%
	TH	C	0.02%
	SIGA	F	0.02%
	CDNA	D	0.02%
	FNA	B	0.02%
	BYRN	B	0.02%
	CRCT	F	0.02%
	SABR	C	0.02%
	OLO	A	0.02%
	ULCC	D	0.02%
	RCEL	B	0.02%
	CHPT	F	0.02%
	BMEA	F	0.02%
	ALT	C	0.02%
	FDMT	F	0.02%
	SFL	D	0.02%
	VSEC	C	0.02%
	EYPT	D	0.02%
	SKYT	D	0.02%
	DOMO	B	0.02%
	BWMN	C	0.02%
	DK	C	0.02%
	CYH	F	0.02%
	METC	C	0.02%
	NRC	F	0.02%
	EGHT	B	0.02%
	CERS	D	0.02%
	INST	B	0.02%
	GHM	A	0.02%
	BLZE	F	0.02%
	CSTL	D	0.02%
	TSHA	C	0.02%
	NNOX	C	0.02%
	ATEX	F	0.02%
	LESL	D	0.02%
	XPOF	C	0.02%
	PCT	C	0.02%
	IGT	F	0.02%
	NIC	B	0.02%
	LYTS	B	0.02%
	PLSE	C	0.02%
	CMPO	B	0.02%
	GRND	A	0.02%
	SRCL	B	0.02%
	AMRC	F	0.02%
	RDVT	A	0.02%
	SRDX	B	0.02%
	SVRA	F	0.02%
	DHIL	B	0.02%
	CCO	C	0.01%
	NWPX	A	0.01%
	DAKT	C	0.01%
	CVGW	D	0.01%
	FOR	F	0.01%
	STKS	F	0.01%
	REKR	F	0.01%
	ODC	B	0.01%
	AKYA	F	0.01%
	BDTX	F	0.01%
	VERU	F	0.01%
	GCO	C	0.01%
	OMER	A	0.01%
	INMB	F	0.01%
	EMBC	C	0.01%
	ACCD	D	0.01%
	AIRS	C	0.01%
	EP	C	0.01%
	GLSI	F	0.01%
	EVI	F	0.01%
	FULC	F	0.01%
	XFOR	F	0.01%
	MLYS	F	0.01%
	BLNK	F	0.01%
	DC	D	0.01%
	LXRX	F	0.01%
	CWCO	C	0.01%
	LFMD	D	0.01%
	NPCE	C	0.01%
	UVE	B	0.01%
	CTGO	D	0.01%
	MODV	C	0.01%
	THR	B	0.01%
	OPRX	F	0.01%
	GNE	F	0.01%
	PEPG	F	0.01%
	STGW	A	0.01%
	SSTI	C	0.01%
	EGAN	C	0.01%
	EVEX	D	0.01%
	GOOD	B	0.01%
	IRON	B	0.01%
	PRTH	B	0.01%
	ACHV	F	0.01%
	STXS	C	0.01%
	SCWO	F	0.01%
	NTIC	B	0.01%
	IAS	C	0.01%
	MRAM	D	0.01%
	ULH	C	0.01%
	PFIS	A	0.01%
	QUIK	F	0.01%
	CADL	F	0.01%
	ESPR	B	0.01%
	TRVI	F	0.01%
	MRSN	D	0.01%
	PKE	B	0.01%
	LAW	F	0.01%
	AQST	D	0.01%
	TAYD	D	0.01%
	INBK	B	0.01%
	MVIS	F	0.01%
	KFS	B	0.01%
	BRY	F	0.01%
	GRPN	F	0.01%
	FHTX	C	0.01%
	JILL	C	0.01%
	SCPH	F	0.01%
	PSTL	D	0.01%
	QUAD	C	0.01%
	PAYS	F	0.01%
	PLUG	F	0.01%
	OLMA	F	0.01%
	TIPT	C	0.01%
	FFWM	C	0.01%
	LWAY	C	0.01%
	LCTX	F	0.01%
	SKIN	D	0.01%
	JYNT	C	0.01%
	RILY	F	0.01%
	INFU	B	0.01%
	BBAI	C	0.01%
	HNST	A	0.01%
	DESP	B	0.01%
	SKYH	C	0.01%
	KLTR	B	0.01%
	PHAT	F	0.01%
	ACIC	B	0.01%
	SMTI	B	0.01%
	TSQ	D	0.01%
	BTMD	B	0.01%
	CDZI	C	0.01%
	ORIC	F	0.01%
	ZYXI	D	0.01%
	AVXL	B	0.01%
	QRHC	D	0.01%
	CTOS	B	0.01%
	ADCT	F	0.01%
	SMLR	B	0.01%
	MDWD	D	0.01%
	GWRS	B	0.01%
	MGTX	C	0.01%
	TCX	D	0.01%
	BRCC	F	0.01%
	XOMA	C	0.01%
	AEYE	C	0.01%
	SMID	B	0.01%
	ARAY	C	0.01%
	MLP	B	0.01%
	HEAR	D	0.01%
	EVCM	B	0.01%
	GAMB	A	0.01%
	PRCH	B	0.01%
	AVAH	B	0.01%
	INDI	C	0.01%
	LIVN	F	0.01%
	CDXC	B	0.01%
	INMD	C	0.01%
	ALTG	C	0.01%
	CDLX	D	0.01%
	CVRX	C	0.01%
	SGHT	F	0.01%
	UMH	B	0.01%
	KNTK	A	0.01%
	DSP	A	0.01%
	OFLX	D	0.01%
	KRT	B	0.01%
	BVS	D	0.01%
	PFMT	F	0.01%
	RICK	B	0.01%
	LNZA	F	0.01%
	IRWD	F	0.01%
	MGNX	F	0.01%
	PESI	B	0.01%
	ZURA	F	0.01%
	GCBC	C	0.01%
	REAL	B	0.01%
	PBPB	C	0.01%
	QRTEB	F	0.0%
	SES	F	0.0%
	LYRA	F	0.0%
	TDUP	C	0.0%
	MASS	F	0.0%
	PGEN	F	0.0%
	BSVN	B	0.0%
	RSVR	B	0.0%
	QIPT	F	0.0%
	SPCE	D	0.0%
	ATLC	A	0.0%
	ULBI	F	0.0%
	GRWG	D	0.0%
	HLVX	F	0.0%
	VIRC	B	0.0%
	RMNI	C	0.0%
	LUNR	B	0.0%
	VGAS	B	0.0%
	RENB	F	0.0%
	FBIZ	B	0.0%
	CZFS	B	0.0%
	ELEV	D	0.0%
	PLPC	B	0.0%
	ORGO	B	0.0%
	HRTX	F	0.0%
	HOWL	F	0.0%
	APEI	B	0.0%
	BOC	C	0.0%
	TERN	F	0.0%
	CHRS	D	0.0%
	EVC	C	0.0%
	LSEA	D	0.0%
	FENC	D	0.0%
	SST	F	0.0%
	CTV	A	0.0%
	RGLS	F	0.0%
	MEC	F	0.0%
	DIBS	F	0.0%
	AMPX	C	0.0%
	DLHC	F	0.0%
	CIX	D	0.0%
	ALRS	D	0.0%
	HBIO	F	0.0%
	CDXS	B	0.0%
	ANET	C	0.0%
	SHYF	C	0.0%
	VRCA	F	0.0%
	CLBK	C	0.0%
	ALDX	D	0.0%
	RM	C	0.0%
	ORN	B	0.0%
	TNYA	D	0.0%
	SGC	C	0.0%
	ATOS	F	0.0%
	GALT	C	0.0%
	AVTE	D	0.0%
	IIIV	C	0.0%
	LASR	D	0.0%
	AKBA	C	0.0%
	STTK	F	0.0%
	NATR	C	0.0%
	MITT	D	0.0%
	CABA	F	0.0%
	INNV	F	0.0%
	VALU	C	0.0%
	AOMR	F	0.0%
	MPX	C	0.0%
	CENT	C	0.0%
	CHCT	C	0.0%
	CMRE	C	0.0%
	HCAT	D	0.0%
	FUBO	D	0.0%
	OOMA	B	0.0%
	FG	A	0.0%
	PBYI	C	0.0%
	METCB	F	0.0%
	ANIK	D	0.0%
	USCB	B	0.0%
	MYFW	B	0.0%
	MCBS	B	0.0%
	MLR	C	0.0%
	CURV	D	0.0%
	EPM	A	0.0%
	OABI	F	0.0%
	FIGS	F	0.0%
	NGS	B	0.0%
	REPX	A	0.0%
	PSTX	D	0.0%
	RDW	A	0.0%
	CRDF	F	0.0%
	ALXO	F	0.0%
	HDSN	F	0.0%
	SWBI	C	0.0%
	OUST	C	0.0%
	GMGI	C	0.0%
	QBTS	B	0.0%
	OBIO	C	0.0%
	BOOM	F	0.0%
	FLWS	D	0.0%
	RCKY	F	0.0%
	ITIC	A	0.0%
	PTVE	B	0.0%
	ARKO	C	0.0%
	EGY	D	0.0%
	ATNM	F	0.0%
	OPEN	F	0.0%
	HOV	D	0.0%
	SHBI	B	0.0%
	DIN	C	0.0%
	HQI	B	0.0%
	AVO	C	0.0%
	BMBL	C	0.0%
	VTSI	C	0.0%
	MAPS	B	0.0%
	DCGO	B	0.0%
	NGVC	A	0.0%
	CLPR	D	0.0%
	YORW	F	0.0%
	TTSH	F	0.0%
	QTRX	F	0.0%
	OVID	F	0.0%
	PLL	C	0.0%
	NRDY	C	0.0%

VTWG Underweight 266 Positions Relative to QVMS

	Symbol	Grade	Weight
	CMA	B	-0.71%
	RHI	C	-0.59%
	JXN	C	-0.58%
	ATI	C	-0.55%
	VFC	C	-0.53%
	AWI	A	-0.53%
	MTH	D	-0.51%
	LNC	C	-0.5%
	GPI	B	-0.46%
	ABG	C	-0.46%
	MATX	C	-0.46%
	ALK	B	-0.46%
	EPRT	B	-0.43%
	SEE	C	-0.42%
	AL	B	-0.42%
	RDN	D	-0.42%
	ACA	A	-0.41%
	SLG	B	-0.37%
	AGO	B	-0.37%
	ABCB	B	-0.36%
	GTES	A	-0.35%
	SKYW	C	-0.35%
	SIG	B	-0.35%
	MHO	D	-0.34%
	SANM	B	-0.34%
	PBH	A	-0.33%
	OGN	F	-0.33%
	RUSHA	C	-0.32%
	KFY	B	-0.32%
	BGC	C	-0.32%
	FULT	A	-0.32%
	CRC	A	-0.31%
	HCC	B	-0.31%
	ABM	B	-0.31%
	REZI	A	-0.31%
	AUB	B	-0.31%
	MAC	B	-0.31%
	UCB	A	-0.31%
	CBU	B	-0.3%
	CATY	B	-0.3%
	WSFS	B	-0.29%
	DXC	B	-0.29%
	GEO	B	-0.29%
	CEIX	A	-0.28%
	FHB	B	-0.28%
	HP	C	-0.27%
	APLE	B	-0.27%
	HIW	C	-0.26%
	BRC	D	-0.26%
	GNW	A	-0.26%
	ICUI	D	-0.26%
	IAC	F	-0.26%
	BFH	C	-0.26%
	CVBF	A	-0.25%
	SFNC	C	-0.25%
	INDB	B	-0.25%
	ARCH	B	-0.25%
	PENN	C	-0.25%
	HUBG	A	-0.25%
	NWL	C	-0.25%
	BKU	A	-0.25%
	ENVA	B	-0.24%
	TDS	B	-0.24%
	BXMT	C	-0.24%
	CWEN	C	-0.24%
	BOH	B	-0.24%
	BTU	B	-0.24%
	AVA	A	-0.23%
	PRK	B	-0.23%
	PTEN	C	-0.23%
	PFS	B	-0.23%
	HASI	D	-0.23%
	UNF	B	-0.23%
	VIRT	A	-0.23%
	DEI	B	-0.23%
	AAP	D	-0.22%
	IIPR	D	-0.22%
	ABR	C	-0.22%
	PPBI	C	-0.22%
	FFBC	B	-0.22%
	B	A	-0.21%
	UE	B	-0.21%
	CPK	A	-0.21%
	CWK	C	-0.21%
	MTX	B	-0.21%
	LXP	D	-0.21%
	SBCF	B	-0.2%
	WAFD	B	-0.2%
	NBTB	B	-0.2%
	VSTO	A	-0.2%
	TTMI	C	-0.2%
	BANR	B	-0.2%
	PINC	B	-0.19%
	TRMK	C	-0.19%
	FL	F	-0.19%
	AKR	B	-0.19%
	RNST	B	-0.19%
	PHIN	A	-0.19%
	CXW	C	-0.19%
	VIAV	C	-0.18%
	KMT	B	-0.18%
	KAR	B	-0.18%
	MPW	F	-0.18%
	IBTX	B	-0.18%
	FCPT	C	-0.18%
	JBLU	F	-0.17%
	GBX	A	-0.17%
	STRA	C	-0.17%
	OFG	B	-0.17%
	ROIC	A	-0.17%
	SATS	D	-0.17%
	MRCY	C	-0.17%
	STC	B	-0.16%
	KSS	F	-0.16%
	GO	C	-0.16%
	CABO	B	-0.16%
	HAYW	B	-0.16%
	FBK	C	-0.16%
	OI	C	-0.16%
	SHO	D	-0.16%
	EPC	F	-0.15%
	MLKN	F	-0.15%
	WGO	C	-0.15%
	TALO	C	-0.15%
	NHC	C	-0.15%
	NBHC	C	-0.15%
	FBNC	B	-0.15%
	NWBI	B	-0.15%
	LGND	C	-0.15%
	FTRE	D	-0.15%
	FCF	B	-0.15%
	DRH	B	-0.15%
	NTCT	C	-0.14%
	VSTS	C	-0.14%
	HMN	B	-0.14%
	KN	B	-0.14%
	BHE	C	-0.14%
	PRDO	B	-0.14%
	LZB	B	-0.14%
	IART	C	-0.14%
	ROG	D	-0.14%
	XHR	B	-0.13%
	LTC	B	-0.13%
	CUBI	B	-0.13%
	VBTX	B	-0.13%
	STBA	B	-0.13%
	TRIP	F	-0.13%
	HOPE	C	-0.13%
	DNOW	B	-0.13%
	MYGN	F	-0.12%
	GTY	A	-0.12%
	PEB	D	-0.12%
	HTH	C	-0.12%
	NWN	A	-0.12%
	THS	D	-0.12%
	WABC	B	-0.12%
	SJW	F	-0.12%
	SCSC	C	-0.11%
	NX	C	-0.11%
	NAVI	F	-0.11%
	GNL	F	-0.11%
	ELME	D	-0.11%
	SBH	C	-0.11%
	WS	C	-0.11%
	DEA	D	-0.1%
	JBGS	F	-0.1%
	DGII	C	-0.1%
	MODG	F	-0.1%
	DAN	D	-0.1%
	UNFI	A	-0.1%
	CRK	B	-0.1%
	SAFT	B	-0.1%
	COHU	C	-0.1%
	BHLB	B	-0.1%
	UVV	B	-0.1%
	EIG	B	-0.1%
	AAT	B	-0.1%
	ALEX	B	-0.1%
	SNDR	B	-0.09%
	PARR	F	-0.09%
	PMT	C	-0.09%
	FDP	B	-0.09%
	RC	D	-0.09%
	BRKL	B	-0.09%
	SXC	A	-0.09%
	CARS	C	-0.09%
	ARI	C	-0.09%
	PFBC	B	-0.09%
	MD	C	-0.09%
	DCOM	B	-0.09%
	CERT	F	-0.09%
	PRLB	B	-0.08%
	TMP	B	-0.08%
	MMI	C	-0.08%
	EFC	C	-0.08%
	PRAA	D	-0.08%
	VTOL	B	-0.08%
	VTLE	C	-0.08%
	GIII	D	-0.08%
	NXRT	B	-0.08%
	XRX	F	-0.08%
	SBSI	C	-0.08%
	CSR	B	-0.08%
	FBRT	D	-0.08%
	DLX	B	-0.08%
	ALGT	B	-0.08%
	CPF	B	-0.07%
	KOP	C	-0.07%
	CFFN	C	-0.07%
	ODP	F	-0.07%
	HCSG	C	-0.07%
	AVNS	F	-0.07%
	WNC	C	-0.07%
	EGBN	B	-0.07%
	PRA	C	-0.07%
	BDN	C	-0.07%
	ASTE	C	-0.07%
	RWT	D	-0.07%
	MNRO	D	-0.07%
	HFWA	C	-0.07%
	UTL	B	-0.07%
	HSII	B	-0.07%
	GDEN	B	-0.06%
	TRST	B	-0.06%
	HAYN	A	-0.06%
	MATW	C	-0.06%
	HAFC	B	-0.06%
	GPRE	F	-0.06%
	AXL	C	-0.06%
	AOSL	C	-0.06%
	CNXN	C	-0.06%
	ASIX	B	-0.06%
	HTZ	C	-0.05%
	VSAT	F	-0.05%
	HAIN	D	-0.05%
	HZO	F	-0.05%
	CTKB	C	-0.05%
	MTUS	C	-0.05%
	SMP	C	-0.05%
	SPTN	D	-0.05%
	SCHL	F	-0.05%
	SCVL	F	-0.05%
	NVRI	D	-0.05%
	SHEN	F	-0.05%
	EZPW	B	-0.05%
	WSR	A	-0.05%
	MATV	D	-0.05%
	ETD	C	-0.05%
	PUMP	C	-0.05%
	INN	D	-0.05%
	SWI	C	-0.05%
	USNA	C	-0.04%
	RGNX	D	-0.04%
	KELYA	F	-0.04%
	SVC	F	-0.04%
	GDOT	D	-0.04%
	BGS	F	-0.04%
	GES	F	-0.04%
	TR	B	-0.04%
	HPP	F	-0.04%
	UFCS	A	-0.04%
	RES	D	-0.04%
	AMBC	C	-0.04%
	TWI	F	-0.03%
	FLGT	F	-0.03%
	NPK	B	-0.03%

VTWG: Top Represented Industries & Keywords

Industries: Biotechnology Software - Application Medical Devices Software - Infrastructure Diversified Industrials Banks - Regional - US Business Services Restaurants Drug Manufacturers - Specialty & Generic Medical Instruments & Supplies Specialty Chemicals Aerospace & Defense Asset Management Diagnostics & Research Electronic Components Engineering & Construction Oil & Gas E&P Packaged Foods Building Materials Information Technology Services

Keywords: Medicine Biopharmaceutical Biotechnology Cancer Clinical Medicine Computing Life Sciences Bank Banking Construction Disease Pharmaceutical Telecommunications Biology Chemical Insurance Semiconductor Aerospace Electronics Organ Systems

QVMS: Top Represented Industries & Keywords

Industries: Banks - Regional - US REIT - Diversified Biotechnology Diversified Industrials Oil & Gas Equipment & Services Packaged Foods REIT - Retail Specialty Chemicals Insurance - Property & Casualty Asset Management Auto Parts Oil & Gas E&P REIT - Hotel & Motel Software - Application Specialty Retail Building Materials Communication Equipment Credit Services Electronic Components Medical Instruments & Supplies

Keywords: Bank Banking Real Estate Investment Trust Deposit Products Medicine Real Estate Loans Clothing Computing Aerospace Chemical Insurance Commercial Bank Commercial Banking Mining Mortgage Loan Retail Store Semiconductor Transport Fashion Construction