VTWV vs. FREL ETF Comparison

Comparison of Vanguard Russell 2000 Value ETF (VTWV) to Fidelity MSCI Real Estate Index ETF (FREL)

VTWV

Vanguard Russell 2000 Value ETF

VTWV Description

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

$133.39

Average Daily Volume

30,203

Number of Holdings ^*

1293

* may have additional holdings in another (foreign) market

FREL

Fidelity MSCI Real Estate Index ETF

FREL Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Real Estate Index. The fund invests at least 80% of assets in securities included in the fund&#39;s underlying index. The fund&#39;s underlying index is the MSCI USA IMI Real Estate Index, which represents the performance of the real estate sector in the U.S. equity market. The fund may or may not hold all of the securities in the MSCI USA IMI Real Estate Index.

Grade (RS Rating)

Last Trade

$25.20

Average Daily Volume

161,971

Number of Holdings ^*

140

* may have additional holdings in another (foreign) market

Performance

Period	VTWV	FREL
30 Days	-1.89%	1.63%
60 Days	-1.31%	3.78%
90 Days	-1.26%	1.10%
12 Months	9.18%	3.14%

74 Overlapping Holdings

Symbol	Grade	Weight in VTWV	Weight in FREL	Overlap
AAT	B	0.08%	0.08%	0.08%
AHH	B	0.06%	0.06%	0.06%
AIV	B	0.09%	0.08%	0.08%
AKR	A	0.13%	0.14%	0.13%
ALEX	B	0.09%	0.09%	0.09%
APLE	D	0.24%	0.25%	0.24%
BDN	D	0.06%	0.06%	0.06%
BFS	C	0.0%	0.03%	0.0%
BNL	B	0.22%	0.22%	0.22%
CBL	B	0.01%	0.02%	0.01%
CHCT	D	0.02%	0.05%	0.02%
CLDT	D	0.03%	0.03%	0.03%
COMP	D	0.01%	0.11%	0.01%
CSR	B	0.08%	0.08%	0.08%
CTRE	B	0.21%	0.26%	0.21%
CWK	C	0.16%	0.13%	0.13%
DBRG	D	0.12%	0.17%	0.12%
DEA	B	0.09%	0.09%	0.09%
DEI	C	0.17%	0.17%	0.17%
DHC	B	0.04%	0.04%	0.04%
DRH	D	0.14%	0.14%	0.14%
EPRT	A	0.28%	0.35%	0.28%
EQC	B	0.15%	0.15%	0.15%
ESRT	C	0.1%	0.1%	0.1%
FCPT	B	0.15%	0.18%	0.15%
FOR	F	0.05%	0.05%	0.05%
FPI	C	0.04%	0.04%	0.04%
FRPH	D	0.03%	0.03%	0.03%
GMRE	B	0.04%	0.04%	0.04%
GNL	D	0.11%	0.11%	0.11%
GOOD	B	0.04%	0.05%	0.04%
GTY	D	0.1%	0.1%	0.1%
HPP	D	0.05%	0.04%	0.04%
INN	D	0.05%	0.05%	0.05%
IRT	A	0.29%	0.32%	0.29%
IVT	D	0.13%	0.13%	0.13%
JBGS	B	0.1%	0.1%	0.1%
KRG	B	0.37%	0.36%	0.36%
KW	C	0.09%	0.08%	0.08%
LAND	B	0.03%	0.03%	0.03%
LTC	A	0.11%	0.11%	0.11%
LXP	B	0.19%	0.21%	0.19%
MAC	D	0.25%	0.25%	0.25%
MMI	D	0.04%	0.06%	0.04%
NHI	A	0.19%	0.23%	0.19%
NMRK	C	0.11%	0.11%	0.11%
NTST	D	0.09%	0.1%	0.09%
NXRT	B	0.04%	0.07%	0.04%
OLP	B	0.03%	0.03%	0.03%
OPEN	F	0.09%	0.08%	0.08%
OUT	C	0.09%	0.14%	0.09%
PCH	F	0.26%	0.23%	0.23%
PDM	B	0.07%	0.06%	0.06%
PEB	F	0.13%	0.12%	0.12%
PECO	C	0.24%	0.29%	0.24%
PGRE	C	0.06%	0.06%	0.06%
PKST	F	0.03%	0.03%	0.03%
PLYM	B	0.07%	0.07%	0.07%
RLJ	F	0.12%	0.11%	0.11%
RMR	D	0.01%	0.02%	0.01%
ROIC	C	0.12%	0.12%	0.12%
SBRA	A	0.26%	0.27%	0.26%
SHO	D	0.16%	0.15%	0.15%
SITC	A	0.21%	0.21%	0.21%
SKT	D	0.12%	0.23%	0.12%
SLG	B	0.26%	0.28%	0.26%
SVC	D	0.07%	0.06%	0.06%
TRC	C	0.03%	0.02%	0.02%
TRNO	B	0.39%	0.43%	0.39%
UE	A	0.16%	0.17%	0.16%
UMH	A	0.06%	0.08%	0.06%
UNIT	F	0.06%	0.05%	0.05%
WSR	B	0.05%	0.05%	0.05%
XHR	D	0.12%	0.11%	0.11%

VTWV Overweight 1219 Positions Relative to FREL

Symbol	Grade	Weight
CHRD	C	0.59%
PR	C	0.56%
CMC	D	0.51%
MTH	D	0.49%
MUR	D	0.48%
JXN	B	0.47%
UFPI	D	0.47%
CIVI	D	0.46%
TMHC	D	0.46%
SM	D	0.45%
SSB	D	0.45%
MTDR	D	0.45%
ESNT	B	0.45%
CVNA	B	0.44%
BRBR	C	0.43%
CRS	B	0.42%
BCC	F	0.42%
BECN	D	0.42%
COOP	C	0.41%
ONB	B	0.41%
CADE	C	0.4%
PBF	D	0.39%
SIG	F	0.37%
RDN	B	0.37%
KBH	C	0.37%
SWX	D	0.37%
ABG	D	0.37%
POR	D	0.35%
LNW	B	0.35%
GATX	B	0.35%
SUM	D	0.35%
MATX	B	0.34%
ETRN	D	0.34%
ITRI	C	0.34%
HOMB	C	0.34%
UBSI	D	0.33%
GPI	D	0.33%
ACA	D	0.33%
WIRE	A	0.33%
CNX	C	0.32%
GBCI	D	0.32%
KNF	D	0.31%
ITGR	D	0.31%
AVNT	D	0.31%
HWC	B	0.31%
ANF	B	0.31%
BKH	C	0.3%
MOG.A	C	0.3%
STNG	B	0.3%
TPH	D	0.29%
MLI	C	0.29%
ESGR	A	0.29%
LBRT	D	0.29%
UMBF	B	0.28%
ALE	C	0.28%
AMKR	B	0.28%
PTEN	F	0.28%
HP	D	0.28%
ZWS	D	0.28%
GT	F	0.27%
HCC	C	0.27%
SANM	B	0.27%
MHO	D	0.26%
HASI	D	0.26%
AMR	C	0.26%
OGS	C	0.26%
SYNA	D	0.26%
KFY	B	0.26%
SR	C	0.25%
PBH	C	0.25%
NWE	D	0.25%
CNO	B	0.25%
NPO	D	0.25%
ALIT	F	0.25%
ASB	C	0.25%
CRC	B	0.25%
ABCB	B	0.25%
VLY	F	0.24%
LIVN	D	0.24%
AEO	F	0.24%
ARCH	C	0.24%
KTOS	B	0.24%
REZI	D	0.24%
CEIX	B	0.24%
ASGN	D	0.24%
PNM	D	0.23%
TGNA	D	0.23%
OSCR	D	0.23%
UCBI	D	0.23%
ABM	B	0.23%
VSH	D	0.23%
BXMT	C	0.23%
IIPR	B	0.23%
SKYW	B	0.23%
PRMW	C	0.23%
IBOC	C	0.23%
WD	D	0.23%
RUSHA	F	0.22%
MTX	B	0.22%
GNW	D	0.22%
TCBI	B	0.22%
HL	D	0.22%
NEOG	C	0.22%
FULT	D	0.22%
AVA	D	0.22%
AUB	C	0.22%
FBP	A	0.21%
HUBG	B	0.21%
PRIM	D	0.21%
CLSK	D	0.21%
UEC	D	0.21%
BTU	C	0.21%
CATY	C	0.2%
STRA	C	0.2%
GMS	F	0.2%
ADNT	F	0.2%
AX	C	0.2%
GTLS	D	0.2%
GHC	C	0.2%
INSW	B	0.2%
WSFS	B	0.2%
AZZ	D	0.19%
CBU	B	0.19%
TWST	C	0.19%
NMIH	A	0.19%
CRNX	D	0.19%
GLNG	A	0.19%
SMTC	D	0.19%
APG	C	0.19%
ATGE	A	0.19%
ABR	B	0.19%
HELE	F	0.19%
AROC	B	0.18%
TROX	D	0.18%
SATS	B	0.18%
GVA	B	0.18%
UNF	B	0.18%
AIR	B	0.18%
CCS	F	0.18%
MIR	C	0.17%
PFSI	A	0.17%
MQ	D	0.17%
FIBK	B	0.17%
CVBF	C	0.17%
INDB	D	0.17%
MODG	D	0.17%
BOH	D	0.17%
FL	D	0.17%
ZD	F	0.16%
MLKN	D	0.16%
WERN	D	0.16%
KMT	F	0.16%
CDE	B	0.16%
UCTT	A	0.16%
VECO	B	0.16%
SFBS	C	0.16%
TRN	C	0.16%
FFBC	C	0.16%
IOVA	F	0.16%
EBC	B	0.16%
PPBI	D	0.16%
PATK	C	0.16%
BKU	B	0.16%
SFNC	D	0.16%
TTMI	A	0.15%
WAFD	C	0.15%
TOWN	C	0.15%
BANC	D	0.15%
EPC	B	0.15%
CENTA	F	0.15%
FRME	C	0.15%
TDS	B	0.15%
HNI	B	0.15%
PRK	B	0.15%
CWT	D	0.15%
RNA	C	0.15%
SBCF	D	0.15%
MYGN	B	0.15%
NJR	D	0.15%
RAMP	D	0.15%
VSTO	B	0.15%
AGIO	C	0.15%
URBN	C	0.14%
GOGL	C	0.14%
GPOR	C	0.14%
TRMK	C	0.14%
SNEX	B	0.14%
PFS	D	0.14%
DAN	F	0.14%
CXW	D	0.14%
KAR	C	0.14%
LGIH	F	0.14%
HTLF	B	0.14%
MOD	A	0.14%
HLNE	B	0.14%
PLUS	C	0.14%
JBLU	B	0.14%
B	B	0.14%
NTLA	F	0.13%
DHT	D	0.13%
SCL	D	0.13%
SFL	B	0.13%
XRX	F	0.13%
HLX	A	0.13%
RNST	C	0.13%
SKY	F	0.13%
POWL	D	0.13%
TALO	D	0.13%
TEX	D	0.13%
IBTX	B	0.13%
PLAB	D	0.13%
ANDE	F	0.13%
GBX	C	0.13%
STC	C	0.13%
LCII	F	0.13%
PSN	B	0.13%
OFG	B	0.13%
SQSP	A	0.13%
TNK	B	0.13%
SJW	F	0.13%
GEO	C	0.13%
ENVA	B	0.13%
OTTR	C	0.13%
WOR	F	0.13%
WGO	F	0.13%
COHU	B	0.12%
VCYT	C	0.12%
ONTO	B	0.12%
BDC	C	0.12%
ARCB	D	0.12%
ASPN	D	0.12%
BHE	B	0.12%
CLDX	D	0.12%
NTB	B	0.12%
DYN	C	0.12%
NBTB	B	0.12%
DNOW	C	0.12%
DO	B	0.12%
KN	D	0.12%
MC	A	0.12%
GEF	F	0.12%
STNE	D	0.12%
WSBC	C	0.12%
NEO	D	0.12%
BANR	B	0.12%
PDCO	F	0.12%
THS	C	0.12%
DK	D	0.12%
BGC	C	0.12%
LZB	C	0.12%
BANF	D	0.12%
CHCO	B	0.11%
RVMD	D	0.11%
NWBI	B	0.11%
EFSC	B	0.11%
NTCT	D	0.11%
HMN	D	0.11%
HTH	C	0.11%
ARI	D	0.11%
MGEE	D	0.11%
LKFN	D	0.11%
CODI	C	0.11%
ORA	C	0.11%
KURA	D	0.11%
PRDO	C	0.11%
BLBD	C	0.11%
MCY	C	0.11%
GIII	F	0.1%
ODP	D	0.1%
NAVI	D	0.1%
BKD	C	0.1%
LILAK	B	0.1%
FBNC	C	0.1%
SCS	B	0.1%
LADR	A	0.1%
OMI	F	0.1%
AMWD	F	0.1%
LUMN	F	0.1%
CUBI	B	0.1%
WLY	A	0.1%
FBK	B	0.1%
JELD	D	0.1%
VGR	B	0.1%
RC	D	0.1%
NHC	A	0.1%
AGM	B	0.1%
KNTK	A	0.1%
NNI	C	0.1%
NBHC	B	0.1%
PRG	D	0.1%
VRTS	C	0.1%
FCF	B	0.1%
NWN	F	0.1%
TRS	D	0.09%
CMCO	F	0.09%
RRR	B	0.09%
NWLI	A	0.09%
PAR	B	0.09%
PRM	B	0.09%
LOB	F	0.09%
UVV	F	0.09%
RXRX	F	0.09%
SLCA	B	0.09%
SCSC	D	0.09%
BUSE	B	0.09%
BMBL	F	0.09%
CAL	D	0.09%
ESE	D	0.09%
TCBK	B	0.09%
PMT	C	0.09%
CNNE	D	0.09%
HOPE	C	0.09%
STBA	B	0.09%
LGND	B	0.09%
XPRO	C	0.09%
DLX	B	0.08%
EWTX	C	0.08%
THR	D	0.08%
BBIO	D	0.08%
ROCK	D	0.08%
WS	C	0.08%
PEBO	C	0.08%
WINA	F	0.08%
SASR	B	0.08%
ECPG	D	0.08%
IMKTA	F	0.08%
NIC	B	0.08%
CSTM	D	0.08%
VBTX	B	0.08%
VSEC	B	0.08%
GFF	D	0.08%
WMK	D	0.08%
EIG	B	0.08%
CRK	C	0.08%
NX	F	0.08%
EYE	F	0.08%
ICHR	C	0.08%
SAFT	D	0.08%
VTOL	B	0.07%
SRCE	B	0.07%
AUR	C	0.07%
IDYA	F	0.07%
JANX	D	0.07%
REVG	C	0.07%
CLW	D	0.07%
OCFC	B	0.07%
BXC	F	0.07%
WTTR	B	0.07%
AXL	D	0.07%
AMBA	B	0.07%
CPK	C	0.07%
WABC	C	0.07%
SXC	C	0.07%
GABC	B	0.07%
APOG	C	0.07%
DCPH	A	0.07%
ACMR	D	0.07%
AGX	C	0.07%
KOP	F	0.07%
JOBY	D	0.07%
FDMT	D	0.07%
TNC	D	0.07%
TGI	B	0.07%
PUMP	D	0.07%
OBK	D	0.07%
SHEN	D	0.07%
EFC	A	0.07%
ACT	B	0.07%
PARR	D	0.07%
AVNS	F	0.07%
LESL	F	0.07%
TILE	D	0.07%
QCRH	B	0.07%
CASH	B	0.07%
ASC	B	0.07%
TPC	B	0.07%
SCHL	F	0.07%
ADUS	B	0.07%
GNK	C	0.07%
PAGS	D	0.07%
PFBC	C	0.07%
MGNI	B	0.07%
CCOI	D	0.07%
GRBK	C	0.07%
BHLB	B	0.07%
ADMA	B	0.07%
LC	D	0.07%
TARS	D	0.07%
MATV	D	0.07%
MSGE	D	0.07%
DIOD	D	0.06%
ASTE	F	0.06%
OMCL	F	0.06%
MRC	C	0.06%
PRA	F	0.06%
CECO	B	0.06%
APAM	D	0.06%
BGS	F	0.06%
ALGT	F	0.06%
HAYN	C	0.06%
BRKL	D	0.06%
CMRE	B	0.06%
PUBM	D	0.06%
NRIX	C	0.06%
KLIC	B	0.06%
BFC	C	0.06%
SWBI	F	0.06%
CNXN	D	0.06%
SBSI	D	0.06%
BRSP	D	0.06%
SABR	F	0.06%
FBMS	C	0.06%
DCO	B	0.06%
AMBC	F	0.06%
FA	C	0.06%
VERA	D	0.06%
FDP	F	0.06%
EU	D	0.06%
ETWO	D	0.06%
PRLB	D	0.06%
SKWD	D	0.06%
RPAY	C	0.06%
AMRX	C	0.06%
ARCT	F	0.06%
MDXG	D	0.06%
BLX	C	0.06%
SBOW	B	0.06%
SGH	B	0.06%
SAH	D	0.06%
VIR	F	0.06%
PRAA	F	0.06%
INVA	B	0.06%
RWT	B	0.06%
BZH	F	0.06%
SPNT	D	0.06%
GPRE	F	0.06%
NAT	C	0.06%
TRTX	A	0.05%
CFB	B	0.05%
PTGX	B	0.05%
CLB	B	0.05%
SGBX	F	0.05%
FCBC	B	0.05%
GLDD	C	0.05%
HBI	D	0.05%
CNDT	D	0.05%
MBWM	B	0.05%
SWI	B	0.05%
EGY	B	0.05%
BHRB	F	0.05%
TK	C	0.05%
LEU	F	0.05%
UTL	C	0.05%
CGEM	D	0.05%
KNSA	C	0.05%
VREX	F	0.05%
MD	F	0.05%
IIIN	F	0.05%
GRC	B	0.05%
MATW	F	0.05%
ASIX	F	0.05%
RLAY	F	0.05%
HZO	C	0.05%
DNUT	F	0.05%
RYI	F	0.05%
OSBC	B	0.05%
HFWA	D	0.05%
SMP	F	0.05%
UVSP	B	0.05%
MLR	D	0.05%
MBIN	D	0.05%
GOGO	D	0.05%
PIPR	A	0.05%
PSMT	D	0.05%
EMBC	D	0.05%
CMPR	B	0.05%
XNCR	F	0.05%
DCOM	C	0.05%
NR	C	0.05%
CFFN	B	0.05%
TMP	C	0.05%
THRY	F	0.05%
CTBI	C	0.05%
DRQ	D	0.05%
BELFB	B	0.05%
DXPE	D	0.05%
NUS	F	0.05%
ETD	D	0.05%
SANA	F	0.05%
ECVT	D	0.05%
AOSL	B	0.05%
CDNA	B	0.05%
HSII	D	0.05%
SPTN	F	0.05%
CNOB	D	0.05%
HAIN	D	0.05%
KELYA	C	0.05%
SCVL	C	0.05%
LMND	D	0.05%
DX	D	0.05%
NVRI	B	0.05%
PFC	C	0.05%
HA	D	0.05%
HOV	D	0.05%
ATSG	C	0.05%
FG	D	0.05%
MNRO	F	0.05%
UNFI	C	0.05%
FMBH	C	0.05%
CMTG	D	0.05%
LPG	D	0.05%
AMRK	D	0.05%
STRL	D	0.04%
DDD	F	0.04%
XMTR	F	0.04%
CAC	B	0.04%
FUL	D	0.04%
GSBC	B	0.04%
UFCS	D	0.04%
PCT	C	0.04%
ACCO	F	0.04%
MSBI	D	0.04%
QTRX	F	0.04%
LYEL	F	0.04%
HAFC	B	0.04%
OFIX	D	0.04%
HTBK	B	0.04%
WRLD	D	0.04%
GTN	D	0.04%
AVO	D	0.04%
EQBK	A	0.04%
PTVE	D	0.04%
CYH	D	0.04%
ACHR	C	0.04%
IBCP	B	0.04%
PTCT	D	0.04%
OSG	A	0.04%
CATC	B	0.04%
UTI	B	0.04%
ZEUS	F	0.04%
BFST	C	0.04%
LTH	B	0.04%
IRWD	F	0.04%
TRST	B	0.04%
VMEO	F	0.04%
BRY	D	0.04%
ELVN	C	0.04%
LXU	F	0.04%
HBNC	C	0.04%
ATEC	F	0.04%
CLNE	D	0.04%
HTLD	C	0.04%
EGBN	D	0.04%
ACIW	A	0.04%
AMCX	F	0.04%
CPF	B	0.04%
EBF	B	0.04%
CCO	C	0.04%
GCI	A	0.04%
ARDX	F	0.04%
ROG	C	0.04%
SRRK	F	0.04%
OPK	F	0.04%
KREF	D	0.04%
RCUS	F	0.04%
AMTB	C	0.04%
BV	C	0.04%
BY	B	0.04%
REX	D	0.04%
RES	F	0.04%
RIOT	F	0.04%
AI	B	0.04%
ATRO	B	0.04%
STGW	C	0.04%
RGNX	F	0.04%
LASR	F	0.04%
GES	F	0.04%
CRGY	B	0.04%
LXFR	C	0.03%
TRDA	F	0.03%
PZZA	F	0.03%
WULF	B	0.03%
SHBI	B	0.03%
VERV	F	0.03%
OSUR	F	0.03%
SRI	F	0.03%
GLRE	D	0.03%
SVRA	D	0.03%
ALRS	D	0.03%
TREE	D	0.03%
PLXS	C	0.03%
AIN	D	0.03%
NWPX	D	0.03%
LMNR	D	0.03%
ORIC	F	0.03%
TARO	B	0.03%
AVNW	F	0.03%
FFIC	C	0.03%
CRMT	F	0.03%
FUBO	D	0.03%
CSTL	D	0.03%
NNOX	F	0.03%
NAPA	F	0.03%
AESI	D	0.03%
GEF	F	0.03%
NFBK	C	0.03%
RYAM	C	0.03%
BAND	D	0.03%
PGC	D	0.03%
SMBK	B	0.03%
AROW	B	0.03%
RGP	F	0.03%
ACRE	C	0.03%
MCBC	A	0.03%
PRO	F	0.03%
ANIK	D	0.03%
UVE	D	0.03%
NBN	B	0.03%
KALV	C	0.03%
SXI	D	0.03%
SB	B	0.03%
NKLA	F	0.03%
DOLE	C	0.03%
NPK	D	0.03%
TITN	F	0.03%
CYTK	D	0.03%
HSTM	B	0.03%
CTO	A	0.03%
SIX	B	0.03%
BHB	C	0.03%
IOSP	D	0.03%
MCB	C	0.03%
NTGR	C	0.03%
CCNE	B	0.03%
SAVE	F	0.03%
SMBC	B	0.03%
MEI	F	0.03%
OXM	D	0.03%
OABI	F	0.03%
ALT	F	0.03%
MOV	F	0.03%
STOK	D	0.03%
CENT	F	0.03%
AMSF	F	0.03%
DFH	F	0.03%
FCEL	F	0.03%
WLDN	D	0.03%
CGON	F	0.03%
ITOS	D	0.03%
HVT	F	0.03%
VPG	F	0.03%
KE	F	0.03%
FLGT	F	0.03%
DBI	F	0.03%
DAKT	B	0.03%
THFF	C	0.03%
FLR	B	0.03%
HONE	B	0.03%
EDIT	F	0.03%
ANET	A	0.03%
DJCO	A	0.03%
SLQT	B	0.03%
TBPH	F	0.03%
LMB	B	0.03%
ZIMV	B	0.03%
NOG	C	0.03%
TWI	F	0.03%
DFIN	D	0.03%
MTW	F	0.03%
CCRN	F	0.03%
AHCO	D	0.03%
SRCL	A	0.03%
RBCAA	C	0.03%
WASH	B	0.03%
SD	D	0.03%
FMNB	C	0.03%
AMAL	B	0.03%
BSIG	C	0.03%
GERN	C	0.03%
MCBS	B	0.03%
RDUS	F	0.03%
WVE	D	0.03%
NUVB	D	0.03%
GDOT	F	0.03%
JOUT	F	0.02%
UNTY	B	0.02%
IAUX	F	0.02%
AVD	F	0.02%
SSBK	B	0.02%
DXLG	C	0.02%
CBAN	B	0.02%
RM	C	0.02%
NATR	D	0.02%
NGVC	A	0.02%
SNPO	B	0.02%
PSTX	B	0.02%
BRT	D	0.02%
ERAS	C	0.02%
LSEA	F	0.02%
PACB	F	0.02%
CVLY	B	0.02%
BCML	D	0.02%
MYPS	F	0.02%
NKTX	F	0.02%
DGICA	F	0.02%
HNRG	C	0.02%
MRTN	C	0.02%
CDXS	D	0.02%
BLFY	C	0.02%
LRMR	D	0.02%
OLO	F	0.02%
VRA	F	0.02%
SNCY	C	0.02%
SFST	C	0.02%
WSBF	B	0.02%
TSVT	F	0.02%
GENC	C	0.02%
FRST	C	0.02%
NECB	A	0.02%
FLIC	D	0.02%
LE	C	0.02%
JMSB	D	0.02%
ENTA	C	0.02%
EVRI	C	0.02%
FDBC	F	0.02%
NVRO	F	0.02%
ANIP	D	0.02%
ACTG	C	0.02%
RRBI	C	0.02%
CIVB	C	0.02%
MNKD	C	0.02%
GRNT	C	0.02%
PKOH	D	0.02%
REI	D	0.02%
PHAT	C	0.02%
AMPY	B	0.02%
INZY	D	0.02%
BWB	C	0.02%
CCBG	C	0.02%
ACIC	D	0.02%
CRBU	F	0.02%
ALLO	F	0.02%
FNLC	B	0.02%
YMAB	D	0.02%
GNTY	B	0.02%
ANGO	F	0.02%
POWW	F	0.02%
EBTC	D	0.02%
HLVX	D	0.02%
BMRC	C	0.02%
SOI	D	0.02%
LIND	B	0.02%
DVAX	F	0.02%
WOW	C	0.02%
FRBA	B	0.02%
SNDX	D	0.02%
OBT	B	0.02%
EAT	C	0.02%
LEGH	C	0.02%
FLWS	C	0.02%
TCBX	C	0.02%
RCKY	C	0.02%
HIFS	B	0.02%
ASLE	F	0.02%
CLBK	D	0.02%
FWRG	F	0.02%
AAN	B	0.02%
STRO	F	0.02%
MBI	D	0.02%
THRD	D	0.02%
MCS	F	0.02%
AMPS	F	0.02%
AURA	F	0.02%
REFI	B	0.02%
OLMA	D	0.02%
PKE	D	0.02%
REPL	D	0.02%
HBT	B	0.02%
HBCP	B	0.02%
CZNC	D	0.02%
ACNB	C	0.02%
PAHC	C	0.02%
TRUE	B	0.02%
ATNI	D	0.02%
VLGEA	C	0.02%
FBIZ	B	0.02%
ORRF	B	0.02%
FISI	B	0.02%
PFIS	B	0.02%
LFST	D	0.02%
HEAR	D	0.02%
CVLT	A	0.02%
SPOK	C	0.02%
HLF	C	0.02%
PACK	D	0.02%
SLDP	C	0.02%
PSTL	D	0.02%
LINC	B	0.02%
RBBN	B	0.02%
FLNG	C	0.02%
FMAO	C	0.02%
WTBA	C	0.02%
OIS	D	0.02%
BSRR	A	0.02%
IPI	D	0.02%
UIS	D	0.02%
ALXO	F	0.02%
TELL	C	0.02%
NOVA	D	0.02%
CELC	B	0.02%
VNDA	C	0.02%
JRVR	F	0.02%
CARE	B	0.02%
CWCO	F	0.02%
VIAV	D	0.02%
OI	F	0.02%
ATRC	D	0.02%
ULH	D	0.02%
BJRI	B	0.02%
EBS	B	0.02%
LOCO	C	0.02%
SENEA	C	0.02%
ONEW	C	0.02%
ADV	D	0.02%
MGY	B	0.02%
MBUU	F	0.02%
CNSL	B	0.02%
ZUMZ	C	0.02%
BCRX	B	0.02%
RBB	C	0.02%
LGF.A	F	0.02%
KODK	C	0.02%
PANL	B	0.02%
FFWM	F	0.02%
ODC	F	0.02%
COGT	C	0.02%
TIPT	D	0.02%
MPB	C	0.02%
LBPH	B	0.02%
MOFG	B	0.02%
ENS	C	0.02%
NVAX	C	0.02%
IMMR	C	0.02%
FATE	F	0.02%
KRO	B	0.02%
GCO	F	0.02%
LILA	C	0.02%
RXO	B	0.02%
NRIM	B	0.02%
CNK	B	0.02%
SMHI	B	0.02%
KRNY	C	0.02%
HTBI	B	0.02%
RUSHB	F	0.02%
SPFI	C	0.02%
CDLX	F	0.02%
BOC	F	0.02%
NEWT	C	0.02%
LAUR	C	0.02%
FARO	D	0.02%
ANNX	D	0.02%
HDSN	F	0.02%
TBI	F	0.02%
INDI	F	0.01%
CMTL	D	0.01%
URGN	C	0.01%
BCAB	F	0.01%
PRPL	F	0.01%
GLT	F	0.01%
DNMR	F	0.01%
GRTS	F	0.01%
CVI	F	0.01%
LICY	F	0.01%
BBCP	F	0.01%
BGFV	F	0.01%
IPSC	F	0.01%
CASS	D	0.01%
MAX	F	0.01%
CYRX	F	0.01%
BBSI	B	0.01%
SBH	C	0.01%
AMSWA	D	0.01%
CPSS	B	0.01%
EE	B	0.01%
KIDS	D	0.01%
BBW	F	0.01%
PMVP	F	0.01%
ACET	F	0.01%
DAWN	F	0.01%
FIGS	D	0.01%
VUZI	F	0.01%
CHUY	F	0.01%
ALLK	F	0.01%
BLNK	F	0.01%
PNRG	C	0.01%
CTXR	F	0.01%
SGMO	F	0.01%
ITI	D	0.01%
LXRX	F	0.01%
SSP	F	0.01%
EEX	D	0.01%
TERN	C	0.01%
PTSI	D	0.01%
ANAB	B	0.01%
LLAP	F	0.01%
WW	F	0.01%
ARVN	F	0.01%
ZURA	F	0.01%
NABL	B	0.01%
PETS	F	0.01%
KALU	C	0.01%
DHX	D	0.01%
DENN	F	0.01%
ARTNA	D	0.01%
ACRV	F	0.01%
FENC	F	0.01%
GIC	F	0.01%
KVHI	F	0.01%
DOUG	F	0.01%
ASRT	C	0.01%
TUSK	F	0.01%
IHRT	F	0.01%
VZIO	B	0.01%
SNFCA	B	0.01%
CTGO	D	0.01%
COOK	F	0.01%
MRSN	F	0.01%
PETQ	A	0.01%
BCOV	C	0.01%
DGII	D	0.01%
BIG	F	0.01%
GDYN	C	0.01%
KOD	F	0.01%
GSAT	D	0.01%
AVAH	B	0.01%
IVAC	D	0.01%
AMWL	F	0.01%
BSVN	B	0.01%
FNKO	C	0.01%
IGMS	F	0.01%
ADPT	D	0.01%
CATO	D	0.01%
FGEN	F	0.01%
OPI	F	0.01%
SEER	F	0.01%
SBT	C	0.01%
FF	C	0.01%
GCBC	C	0.01%
EHTH	F	0.01%
LYTS	D	0.01%
WWW	C	0.01%
SFIX	C	0.01%
TRVI	C	0.01%
PBFS	B	0.01%
ATLC	C	0.01%
WALD	F	0.01%
MNSB	C	0.01%
TDUP	F	0.01%
NODK	D	0.01%
VRDN	F	0.01%
PEPG	C	0.01%
OMER	C	0.01%
NREF	C	0.01%
TLYS	D	0.01%
NRGV	F	0.01%
NVEE	F	0.01%
USCB	C	0.01%
VRNT	C	0.01%
CTLP	D	0.01%
CMT	F	0.01%
ESCA	D	0.01%
RXT	B	0.01%
GLUE	F	0.01%
FCCO	D	0.01%
BKSY	F	0.01%
STRS	C	0.01%
APPS	F	0.01%
SPCE	F	0.01%
TSE	F	0.01%
ORGN	F	0.01%
MORF	C	0.01%
PLSE	B	0.01%
CZFS	D	0.01%
JAKK	D	0.01%
CFFI	C	0.01%
HFFG	F	0.01%
MASS	F	0.01%
NC	F	0.01%
TCX	F	0.01%
DSGN	D	0.01%
LAW	F	0.01%
ASUR	D	0.01%
SES	F	0.01%
SPWH	F	0.01%
CRNC	F	0.01%
GNE	D	0.01%
MYFW	D	0.01%
EAF	F	0.01%
VCTR	C	0.01%
PWOD	C	0.01%
ARLO	B	0.01%
RELL	C	0.01%
BFLY	D	0.01%
TYRA	D	0.01%
VABK	B	0.01%
TBRG	C	0.01%
PLCE	F	0.01%
EVBN	C	0.01%
RMAX	F	0.01%
GBIO	F	0.01%
GRWG	F	0.01%
CIFR	B	0.01%
SWIM	F	0.01%
IDT	C	0.01%
SNBR	F	0.01%
BCBP	C	0.01%
TG	D	0.01%
LGF.A	F	0.01%
ESSA	B	0.01%
QUAD	B	0.01%
MLNK	C	0.01%
BWFG	C	0.01%
RCKT	F	0.01%
CPS	D	0.01%
RNGR	C	0.01%
QSI	F	0.01%
BH	D	0.01%
CVGI	F	0.01%
CHMG	B	0.01%
CCSI	F	0.01%
FSLY	F	0.01%
ABUS	B	0.01%
SYBT	B	0.01%
AOMR	C	0.01%
GEVO	F	0.01%
RGCO	D	0.01%
CALM	B	0.01%
VEL	B	0.01%
OVLY	F	0.01%
RSVR	D	0.01%
PLL	F	0.01%
GPMT	F	0.01%
JILL	B	0.01%
PCB	C	0.01%
MBCN	C	0.01%
DM	F	0.01%
FSBC	B	0.01%
HMST	B	0.01%
SPRY	C	0.01%
ORGO	D	0.01%
HCAT	F	0.01%
PKBK	F	0.01%
NXDT	D	0.01%
BLUE	F	0.01%
DH	F	0.01%
FRGE	F	0.01%
HIBB	A	0.01%
LCNB	D	0.01%
MEC	B	0.01%
BEAM	D	0.01%
PLBC	D	0.01%
BALY	D	0.01%
FET	F	0.01%
FVCB	D	0.01%
MGNX	F	0.01%
BOOM	C	0.01%
FSBW	B	0.01%
ATLO	C	0.01%
PLPC	F	0.01%
ME	F	0.01%
WEYS	D	0.01%
COFS	B	0.01%
BLDE	B	0.01%
BARK	B	0.01%
OVID	F	0.01%
NWFL	F	0.01%
TSBK	C	0.01%
EYPT	F	0.01%
STHO	F	0.01%
MLYS	D	0.01%
OB	B	0.01%
ONTF	D	0.01%
MG	D	0.01%
LQDT	B	0.01%
HOFT	F	0.01%
NARI	C	0.01%
PGEN	C	0.01%
STEM	F	0.01%
TTSH	B	0.01%
NKSH	C	0.01%
LQDA	D	0.01%
ALCO	D	0.01%
CIO	C	0.01%
BHR	D	0.01%
BTBT	B	0.01%
ACDC	D	0.01%
GPRO	F	0.01%
SGRY	F	0.01%
ITIC	B	0.01%
MHLD	D	0.01%
CBNK	C	0.01%
INGN	C	0.01%
AFCG	B	0.01%
RLGT	C	0.01%
WLFC	B	0.01%
TNYA	F	0.01%
CLAR	D	0.01%
XOMA	C	0.01%
MVBF	F	0.01%
PINE	C	0.01%
VALU	B	0.0%
VGAS	D	0.0%
IBTA	D	0.0%
XAIR	F	0.0%
MLP	C	0.0%
CLPR	D	0.0%
IMRX	F	0.0%
EOSE	C	0.0%
FEAM	F	0.0%
ARAY	D	0.0%
RPHM	F	0.0%
ZVIA	F	0.0%
CNTY	F	0.0%
CVRX	C	0.0%
ATNM	D	0.0%
OCEA	F	0.0%
CMPO	B	0.0%
UONE	F	0.0%
UTMD	F	0.0%
CRMD	D	0.0%
RBRK	D	0.0%
BRCC	C	0.0%
MAXN	F	0.0%
RBOT	F	0.0%
IRON	C	0.0%
RDDT	A	0.0%
UONEK	F	0.0%
ARL	D	0.0%
EVI	D	0.0%
HRTX	C	0.0%
TWOU	F	0.0%
FLL	C	0.0%
NATH	B	0.0%
IRBT	F	0.0%
EWCZ	F	0.0%
ATOM	F	0.0%
PL	F	0.0%
ACCD	F	0.0%
HPK	D	0.0%
RAPT	F	0.0%
XPOF	B	0.0%
GORV	F	0.0%
DSGR	F	0.0%
MITK	D	0.0%
AADI	F	0.0%
CARA	F	0.0%
RIGL	F	0.0%
FOA	F	0.0%
VATE	F	0.0%
DZSI	F	0.0%
MCRB	F	0.0%
BOWL	C	0.0%
METCB	D	0.0%
CHRS	F	0.0%
TCI	D	0.0%
CIX	F	0.0%
CUTR	F	0.0%
GNLX	F	0.0%
CARM	D	0.0%
NNBR	D	0.0%
SAGE	F	0.0%
EGRX	C	0.0%
ESQ	D	0.0%
CABA	F	0.0%
TVTX	C	0.0%
ATEX	B	0.0%
EB	F	0.0%
OSPN	C	0.0%
HCSG	D	0.0%
WKHS	F	0.0%
NVEC	D	0.0%
ALVR	F	0.0%
SST	F	0.0%
GOCO	D	0.0%
MGTX	F	0.0%
VOXX	F	0.0%
EVER	D	0.0%
VHI	C	0.0%
HCKT	D	0.0%
GCMG	B	0.0%
ATRA	F	0.0%
EVCM	B	0.0%
IKNA	D	0.0%
KZR	F	0.0%
VOR	F	0.0%
DLTH	F	0.0%
BTMD	B	0.0%
BRBS	F	0.0%
LPRO	F	0.0%
III	D	0.0%
RLYB	F	0.0%
VIGL	D	0.0%
KLXE	F	0.0%
DC	D	0.0%
PFMT	F	0.0%
CHGG	F	0.0%
PRLD	F	0.0%
RGR	F	0.0%
DIN	F	0.0%
BIRD	F	0.0%
BW	C	0.0%
FOSL	C	0.0%
XFOR	F	0.0%
CEVA	F	0.0%
NBR	D	0.0%
HUMA	D	0.0%
NL	D	0.0%
SWKH	D	0.0%
BLFS	C	0.0%

VTWV Underweight 66 Positions Relative to FREL

Symbol	Grade	Weight
PLD	C	-7.7%
AMT	B	-6.77%
EQIX	D	-5.3%
WELL	A	-4.37%
SPG	B	-3.63%
DLR	A	-3.46%
PSA	B	-3.43%
O	D	-3.42%
CCI	D	-3.14%
EXR	B	-2.51%
CSGP	F	-2.25%
VICI	D	-2.2%
AVB	B	-2.18%
CBRE	C	-2.03%
IRM	A	-1.96%
EQR	B	-1.74%
INVH	A	-1.62%
SBAC	F	-1.57%
WY	F	-1.53%
VTR	A	-1.51%
ARE	C	-1.37%
ESS	B	-1.32%
MAA	C	-1.22%
SUI	C	-1.11%
DOC	B	-1.03%
KIM	B	-0.96%
HST	D	-0.95%
UDR	B	-0.95%
GLPI	C	-0.9%
WPC	D	-0.9%
AMH	A	-0.89%
CPT	B	-0.87%
ELS	C	-0.86%
REG	C	-0.81%
LAMR	A	-0.78%
CUBE	B	-0.76%
REXR	C	-0.73%
JLL	B	-0.72%
BXP	B	-0.68%
EGP	B	-0.62%
OHI	A	-0.62%
NNN	B	-0.57%
FRT	C	-0.56%
Z	C	-0.55%
COLD	C	-0.53%
BRX	B	-0.51%
STAG	B	-0.49%
FR	C	-0.48%
ADC	B	-0.46%
RHP	D	-0.42%
AIRC	A	-0.42%
VNO	B	-0.31%
RYN	F	-0.3%
CUZ	C	-0.26%
KRC	D	-0.26%
PK	D	-0.24%
EPR	C	-0.24%
NSA	B	-0.23%
HIW	B	-0.21%
MPW	F	-0.21%
JOE	D	-0.15%
EXPI	F	-0.07%
RDFN	F	-0.05%
ALX	B	-0.04%
UHT	B	-0.04%
SRG	F	-0.01%