VO(VO)
AI Look-Through Summary
AI GeneratedThe portfolio's sector allocation exhibits a tilt towards growth-oriented sectors, with Technology and Industrials combining for nearly one-third of the fund's weight. This is notable given the broader market's sector mix. Financial Services and Consumer Cyclical also have significant allocations, suggesting an interest in companies with high earnings potential and relatively stable cash flows.
The top holdings list reveals a moderate level of concentration risk, with STX and WDC each accounting for nearly 2% of the fund's weight. The presence of multiple industrials and tech names among the top holdings underscores the sector tilts observed at the allocation level. A favorable macro environment would likely be one characterized by sustained economic growth, particularly in developed markets where many of these companies operate.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-07-13 07:22:56.611492+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 15/100The investment theme implied by the ticker VO, often associated with value-oriented strategies or specific factor tilts in broader market contexts, appears significantly misaligned with the actual composition of this fund. The top holdings list reveals a heavy presence of large-cap industrials and technology names such as STX, WDC, VRT, and PWR, which do not inherently suggest a narrow thematic focus based solely on their sector classification or individual business models without further context. Notably, several positions like CEG in utilities and CRH in basic materials seem disconnected from any singular growth or disruptive innovation narrative that might be expected if the fund were strictly adhering to a specific modern theme. The inclusion of broad-market heavyweights alongside these holdings suggests the portfolio may rely on established large-cap stability rather than maintaining a tight, coherent thematic investment strategy, potentially using well-known names to anchor returns while diluting any distinct factor exposure.
Sector coherence analysis indicates that the fund's weightings are broadly distributed across traditional economic sectors rather than concentrated within a specific niche defined by the implied theme. The sector breakdown shows substantial allocations to industrials and technology at roughly 15% each, followed closely by financial services and consumer cyclicals, creating a profile that mirrors a diversified broad-market index more than a specialized thematic vehicle. With top-ten concentration remaining low at 10.7%, the fund lacks the distinctiveness required for a true factor or theme-based product, as it does not overweight sectors typically associated with specific investment hypotheses like small-cap value or emerging market growth. The presence of significant weights in utilities and healthcare further suggests an attempt to capture general market beta rather than pursuing a differentiated alpha strategy based on a unique thematic lens.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-24 14:38:00.585633+00
🏢 Sector Analysis
AI GeneratedThe sector allocation of VO demonstrates a deliberate tilt toward growth-oriented and cyclical industries, with Industrials and Technology comprising nearly one-third of the portfolio combined. This heavy weighting suggests an investment thesis centered on capital expenditure cycles and digital infrastructure expansion rather than defensive income generation or stable utility flows. The significant presence in Energy and Consumer Cyclical sectors further reinforces exposure to macroeconomic recovery themes, while the relatively modest allocation to Healthcare and Consumer Defensive segments indicates a lower emphasis on non-cyclical stability compared to many broad market benchmarks.
Concentration risk appears managed through a highly diversified structure across eleven distinct sectors, with no single industry exceeding 17% of total assets. The top ten holdings collectively represent less than 11% of the fund's value, reflecting a strategy that prioritizes breadth over deep concentration in specific large-cap leaders. This distribution pattern reduces idiosyncratic risk associated with individual company performance while maintaining exposure to sector-wide trends driven by holding counts ranging from nine to thirty-six per category. The inclusion of mid-sized companies within these sectors, evidenced by the number of holdings relative to percentage weightings, implies a factor tilt toward small-to-mid-cap growth characteristics rather than purely large-cap value or momentum strategies.
Ultimately, the fund's construction favors dynamic economic environments where industrial output and technological adoption are primary drivers of returns. The balance between high-growth sectors like Technology and Industrials against moderate allocations in Real Estate and Utilities creates a profile that may outperform during periods of robust expansion but could face heightened volatility when economic conditions shift toward contraction or stagnation. Investors examining this data must weigh the potential for superior growth capture against the inherent risks associated with cyclical sensitivity and sector-specific downturns without relying on specific directional predictions regarding future market performance.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-23 11:42:53.117038+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share VO's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of VO's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| QUSQUS | $1B | — | 274 | 98.7% |
| VTIVanguard Total Stock Market Index Fund ETF Shares | $2.1T | 0.03% | 259 | 97.7% |
| VONEVONE | $10B | — | 255 | 95.5% |
| ONEOONEO | $25M | — | 268 | 95.4% |
| SPTMSPTM | $12B | — | 249 | 91.1% |
99% of VO's portfolio by weight is also held by QUS. When QUS receives inflows, it mechanically buys these shared stocks — dragging VO's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofVO's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Peer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 92% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Based on 87% of fund weight with Piotroski data.
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside VO collectively pay out 100% of their Free Cash Flow to maintain the current yield. Warning: constituent companies are paying out nearly all cash flow. A wave of dividend cuts may be imminent if earnings decline. Based on 54% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietaryVO is down 71.5% over the last 12 months. The underlying weighted earnings growth of its constituents is +20.9%. Despite earnings growth, valuations have contracted by 92.4% — the market is paying less per dollar of earnings than a year ago.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 85% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of VO's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of VO's analyzed weight, 38% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 62% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 80% of fund weight with available data. Not investment advice.
Passive Crowding Score
MODERATEHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
VO has a Passive Crowding Score of 47/100. On average, 14.3% of the market capitalization of VO's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.
Passive $ = Σ(ETF AUM × holding weight) across all 19 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | VRT | Vertiv Holdings Co. Class A Industrials | 1.22% | 74.1x | 5/9 |
| 2 | WDC | Western Digital Corp. Technology | 1.06% | 27.9x | 6/9 |
| 3 | STX | Seagate Technology Holdings plc Technology | 1.04% | 70.9x | 7/9 |
| 4 | PWR | Quanta Services Inc. Industrials | 1.04% | 86.2x | 5/9 |
| 5 | HWM | Howmet Aerospace Inc. Industrials | 1.04% | 62.9x | 8/9 |
| 6 | CMI | Cummins Inc. Industrials | 0.95% | 33.7x | 5/9 |
| 7 | DDOG | Datadog Inc. Class A Technology | 0.83% | 663.3x | 6/9 |
| 8 | BE | Bloom Energy Corp. Class A Industrials | 0.79% | — | 4/9 |
| 9 | CEG | Constellation Energy Corp. Utilities | 0.78% | 21.9x | 6/9 |
| 10 | HOOD | Robinhood Markets Inc. Class A Financial Services | 0.77% | 51.5x | 4/9 |
| 11 | NET | Cloudflare Inc. Class A Technology | 0.76% | — | 4/9 |
| 12 | VLO | Valero Energy Corp. Energy | 0.75% | 21.9x | 6/9 |
| 13 | RCL | Royal Caribbean Cruises Ltd. Consumer Cyclical | 0.74% | 17.9x | 7/9 |
| 14 | COHR | Coherent Corp. Technology | 0.74% | 131.6x | 7/9 |
| 15 | TER | Teradyne Inc. Technology | 0.73% | 59.9x | 5/9 |
Historical Holdings Snapshots
Browse how VO’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-07-19
15 holdings · 13.2% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | VRT | 1.22% | 8,178,949 | $2.7B |
| 2 | WDC | 1.06% | 3,734,851 | $2.4B |
| 3 | HWM | 1.04% | 8,670,847 | $2.3B |
| 4 | STX | 1.04% | 2,429,678 | $2.3B |
| 5 | PWR | 1.04% | 3,251,975 | $2.3B |
| 6 | CMI | 0.95% | 2,990,337 | $2.1B |
| 7 | DDOG | 0.83% | 7,169,362 | $1.9B |
| 8 | BE | 0.79% | 5,856,039 | $1.8B |
| 9 | CEG | 0.78% | 7,027,247 | $1.7B |
| 10 | HOOD | 0.77% | 17,145,949 | $1.7B |
| 11 | NET | 0.76% | 6,924,531 | $1.7B |
| 12 | VLO | 0.75% | 6,434,765 | $1.7B |
| 13 | RCL | 0.74% | 5,230,880 | $1.7B |
| 14 | COHR | 0.74% | 4,239,594 | $1.7B |
| 15 | TER | 0.73% | 3,392,151 | $1.6B |
2026-07-18
15 holdings · 13.2% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | VRT | 1.22% | 8,178,949 | $2.7B |
| 2 | WDC | 1.06% | 3,734,851 | $2.4B |
| 3 | PWR | 1.04% | 3,251,975 | $2.3B |
| 4 | STX | 1.04% | 2,429,678 | $2.3B |
| 5 | HWM | 1.04% | 8,670,847 | $2.3B |
| 6 | CMI | 0.95% | 2,990,337 | $2.1B |
| 7 | DDOG | 0.83% | 7,169,362 | $1.9B |
| 8 | BE | 0.79% | 5,856,039 | $1.8B |
| 9 | CEG | 0.78% | 7,027,247 | $1.7B |
| 10 | HOOD | 0.77% | 17,145,949 | $1.7B |
| 11 | NET | 0.76% | 6,924,531 | $1.7B |
| 12 | VLO | 0.75% | 6,434,765 | $1.7B |
| 13 | COHR | 0.74% | 4,239,594 | $1.7B |
| 14 | RCL | 0.74% | 5,230,880 | $1.7B |
| 15 | TER | 0.73% | 3,392,151 | $1.6B |
2026-07-17
15 holdings · 13.2% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | VRT | 1.22% | 8,178,949 | $2.7B |
| 2 | WDC | 1.06% | 3,734,851 | $2.4B |
| 3 | PWR | 1.04% | 3,251,975 | $2.3B |
| 4 | HWM | 1.04% | 8,670,847 | $2.3B |
| 5 | STX | 1.04% | 2,429,678 | $2.3B |
| 6 | CMI | 0.95% | 2,990,337 | $2.1B |
| 7 | DDOG | 0.83% | 7,169,362 | $1.9B |
| 8 | BE | 0.79% | 5,856,039 | $1.8B |
| 9 | CEG | 0.78% | 7,027,247 | $1.7B |
| 10 | HOOD | 0.77% | 17,145,949 | $1.7B |
| 11 | NET | 0.76% | 6,924,531 | $1.7B |
| 12 | VLO | 0.75% | 6,434,765 | $1.7B |
| 13 | COHR | 0.74% | 4,239,594 | $1.7B |
| 14 | RCL | 0.74% | 5,230,880 | $1.7B |
| 15 | TER | 0.73% | 3,392,151 | $1.6B |
2026-07-16
15 holdings · 13.2% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | VRT | 1.22% | 8,178,949 | $2.7B |
| 2 | WDC | 1.06% | 3,734,851 | $2.4B |
| 3 | HWM | 1.04% | 8,670,847 | $2.3B |
| 4 | PWR | 1.04% | 3,251,975 | $2.3B |
| 5 | STX | 1.04% | 2,429,678 | $2.3B |
| 6 | CMI | 0.95% | 2,990,337 | $2.1B |
| 7 | DDOG | 0.83% | 7,169,362 | $1.9B |
| 8 | BE | 0.79% | 5,856,039 | $1.8B |
| 9 | CEG | 0.78% | 7,027,247 | $1.7B |
| 10 | HOOD | 0.77% | 17,145,949 | $1.7B |
| 11 | NET | 0.76% | 6,924,531 | $1.7B |
| 12 | VLO | 0.75% | 6,434,765 | $1.7B |
| 13 | COHR | 0.74% | 4,239,594 | $1.7B |
| 14 | RCL | 0.74% | 5,230,880 | $1.7B |
| 15 | TER | 0.73% | 3,392,151 | $1.6B |
2026-07-15
15 holdings · 14.9% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | STX | 1.90% | 4,731,229 | $4.2B |
| 2 | WDC | 1.78% | 7,355,697 | $3.9B |
| 3 | VRT | 1.18% | 8,155,741 | $2.6B |
| 4 | PWR | 1.06% | 3,246,111 | $2.3B |
| 5 | HWM | 1.03% | 8,698,705 | $2.2B |
| 6 | MRVL | 0.89% | 9,466,976 | $1.9B |
| 7 | CMI | 0.89% | 2,997,608 | $1.9B |
| 8 | CEG | 0.88% | 6,682,340 | $1.9B |
| 9 | SLB | 0.81% | 32,442,305 | $1.8B |
| 10 | DDOG | 0.80% | 7,122,155 | $1.8B |
| 11 | GM | 0.75% | 19,612,250 | $1.6B |
| 12 | ROST | 0.74% | 7,017,373 | $1.6B |
| 13 | HOOD | 0.74% | 17,140,802 | $1.6B |
| 14 | MPC | 0.73% | 6,394,611 | $1.6B |
| 15 | VLO | 0.73% | 6,487,612 | $1.6B |
2026-07-14
15 holdings · 14.9% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | STX | 1.90% | 4,731,229 | $4.2B |
| 2 | WDC | 1.78% | 7,355,697 | $3.9B |
| 3 | VRT | 1.18% | 8,155,741 | $2.6B |
| 4 | PWR | 1.06% | 3,246,111 | $2.3B |
| 5 | HWM | 1.03% | 8,698,705 | $2.2B |
| 6 | MRVL | 0.89% | 9,466,976 | $1.9B |
| 7 | CMI | 0.89% | 2,997,608 | $1.9B |
| 8 | CEG | 0.88% | 6,682,340 | $1.9B |
| 9 | SLB | 0.81% | 32,442,305 | $1.8B |
| 10 | DDOG | 0.80% | 7,122,155 | $1.8B |
| 11 | GM | 0.75% | 19,612,250 | $1.6B |
| 12 | HOOD | 0.74% | 17,140,802 | $1.6B |
| 13 | ROST | 0.74% | 7,017,373 | $1.6B |
| 14 | VLO | 0.73% | 6,487,612 | $1.6B |
| 15 | MPC | 0.73% | 6,394,611 | $1.6B |
Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Price Chart with Moving Averages
What Drove VO Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How VO’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-07-17.
SecuritiesDB is for informational purposes only. Not investment advice.