VBK(VBK)
AI Look-Through Summary
AI GeneratedVBK presents as a substantial vehicle with nearly $40 billion in assets, reflecting significant market participation. The fund's sector allocation reveals a distinct tilt toward Technology and Industrials, which together account for approximately 24.5% of the portfolio, suggesting an underlying focus on capital-intensive growth sectors rather than broad diversification across all eleven GICS categories. While Consumer Cyclical and Healthcare provide moderate exposure at roughly 9%, Energy remains a minor component under 3%. This concentration implies that the fund's performance will be heavily influenced by macroeconomic trends affecting manufacturing output and technological innovation, potentially amplifying volatility during sector-specific rotations compared to more balanced equity strategies.
The top ten holdings illustrate a fragmented ownership structure where no single position exceeds 1.2%, indicating a deliberate strategy to avoid heavy reliance on individual large-cap stocks despite the concentration in specific sectors. Notable names such as BE and CIEN anchor the Industrials and Technology segments respectively, while smaller caps like FTI appear within Energy, highlighting an eclectic mix of market capitalizations rather than a pure mega-cap or small-cap mandate. The presence of technology firms alongside industrial contractors suggests the fund seeks companies with strong balance sheets capable of navigating cyclical downturns, though the lack of dominant positions may limit upside potential during sector-wide rallies compared to more concentrated peers.
Quantitatively, the asset size provides ample liquidity for institutional investors seeking exposure to this specific factor profile without impacting underlying stock prices significantly. However, the heavy weighting in Technology and Industrials means that the fund's beta will likely track these cyclical drivers closely rather than offering a stable defensive posture during recessions affecting those industries specifically. Investors analyzing VBK should weigh whether the current sector concentration aligns with their view on industrial recovery and tech valuation sustainability, noting that historical performance data is not provided here to assess risk-adjusted returns or drawdown characteristics relative to these specific exposures.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-23 06:36:08.015026+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 92/100The investment theme implied by the name VBK, which stands for Vanguard Small-Cap Value ETF, is strongly supported by the provided data. The top holdings list features companies like BE, CIEN, and LITE, all of which are established small-cap entities operating within industrials or technology sectors rather than mega-cap blue chips that often dilute thematic purity in value strategies. There is no evidence of unrelated large-cap stocks dominating the portfolio to artificially stabilize returns; instead, the concentration remains low with a top-ten weight of only 9.3%, indicating a genuine focus on smaller market capitalizations consistent with its stated objective. The sector distribution further reinforces this alignment, as technology and industrials comprise nearly half of the total exposure while maintaining broad diversification across forty-three holdings in tech alone, avoiding over-reliance on any single sub-sector that might skew the small-cap value profile.
Sector coherence appears robust given the balanced weighting between growth-oriented sectors like technology and traditional value staples such as industrials and consumer cyclicals. The presence of healthcare, energy, and real estate adds necessary breadth without overwhelming the core identity defined by small-market opportunities. This fund demonstrates clear differentiation from broad market indices through its specific tilt toward smaller companies across diverse industries rather than tracking a general large-cap or total market benchmark. While the inclusion of various sectors might seem eclectic at first glance, the consistent underweighting in utilities and consumer defensives alongside significant exposure to cyclical areas suggests an intentional strategy to capture value drivers prevalent in the small-cap segment. The data indicates a portfolio constructed with discipline regarding size constraints while maintaining sufficient sector variety to navigate different economic cycles effectively without compromising its fundamental mandate.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-23 15:36:55.464828+00
🏢 Sector Analysis
AI GeneratedThe sector allocation of VBK reveals a distinct focus on growth-oriented industries, with Technology and Industrials collectively comprising over 24% of the portfolio. This heavy weighting suggests an investment thesis centered on companies driving industrial innovation and digital transformation rather than established utility or defensive plays. The presence of significant capital in Consumer Cyclical holdings further supports this view, indicating exposure to discretionary spending patterns linked to economic expansion. Conversely, the minimal allocation to Utilities at 0.2% alongside negligible positions in Consumer Defensive sectors highlights a deliberate avoidance of low-beta, income-generating assets typically associated with market downturns or high-interest rate environments.
Concentration risk appears managed through a diversified holding structure across top sectors rather than reliance on individual mega-cap names, as evidenced by the Top-10 concentration metric sitting at 9.3%. The distribution within Technology and Industrials shows broad participation in both sub-sectors without extreme skew toward any single entity, which may mitigate idiosyncratic risk while maintaining sector-specific factor tilts. However, the sheer dominance of these two sectors implies that portfolio performance will remain highly sensitive to macroeconomic variables affecting capital expenditure cycles and tech valuation multiples. The limited exposure to Real Estate, Financial Services, and Energy suggests the fund is not positioned to capitalize heavily on interest rate-sensitive assets or traditional resource plays, reinforcing a strategy tailored for periods where growth momentum outweighs value characteristics in market drivers.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-22 08:00:37.50621+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share VBK's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of VBK's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| VBVB | $170B | — | 222 | 74.5% |
| SPTMSPTM | $12B | — | 345 | 69.8% |
| VXFVXF | $84B | — | 222 | 65.0% |
| ONEOONEO | $25M | — | 175 | 54.4% |
| VFMOVFMO | $1B | — | 128 | 41.6% |
75% of VBK's portfolio by weight is also held by VB, which commands 4× more assets under management. When VB receives inflows, it mechanically buys these shared stocks — dragging VBK's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofVBK'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
Replaces $249/yr MorningstarPeer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 64% 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 71% 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. Data that Vanguard and BlackRock don't surface.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside VBK collectively pay out 50% of their Free Cash Flow to maintain the current yield. This leaves a substantial cash buffer, making dividend cuts unlikely even in a downturn. Based on 21% 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
ProprietaryVBK is up 34.2% over the last 12 months. The underlying weighted earnings growth of its constituents is +27.4%. The remaining +6.8% of performance is driven by multiple expansion (P/E inflation) — prices rose faster than earnings grew.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 65% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of VBK's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of VBK's analyzed weight, 40% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 60% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 45% 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.
VBK has a Passive Crowding Score of 33/100. On average, 10.0% of the market capitalization of VBK'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 15 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 | BE | Bloom Energy Corp. Class A Industrials | 1.11% | — | 4/9 |
| 2 | CIEN | Ciena Corp. Technology | 1.10% | 369.6x | 7/9 |
| 3 | FIX | Comfort Systems USA Inc. Industrials | 0.95% | 52.9x | 7/9 |
| 4 | LITE | Lumentum Holdings Inc. Technology | 0.95% | 151.6x | 7/9 |
| 5 | CASY | Casey's General Stores Inc. Consumer Cyclical | 0.90% | 40.6x | 5/9 |
| 6 | FTI | TechnipFMC plc Energy | 0.89% | 26.2x | 9/9 |
| 7 | COHR | Coherent Corp. Technology | 0.88% | 172.1x | 7/9 |
| 8 | RVMD | Revolution Medicines Inc. | 0.84% | — | — |
| 9 | ALAB | Astera Labs Inc. Technology | 0.83% | 233.2x | 5/9 |
| 10 | CRDO | Credo Technology Group Holding Ltd. Technology | 0.83% | 129.7x | 7/9 |
| 11 | NTRA | Natera Inc. Healthcare | 0.80% | — | 4/9 |
| 12 | CW | Curtiss-Wright Corp. Industrials | 0.78% | 54.6x | 8/9 |
| 13 | FTAI | FTAI Aviation Ltd. Industrials | 0.75% | 51.8x | 5/9 |
| 14 | MTZ | MasTec Inc. | 0.73% | 60.5x | 7/9 |
| 15 | FN | Fabrinet Technology | 0.72% | 56.2x | 2/9 |
Historical Holdings Snapshots
Browse how VBK’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
15 holdings · 13.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | BE | 1.11% | 1,722,316 | $488.0M |
| 2 | CIEN | 1.10% | 914,087 | $482.3M |
| 3 | FIX | 0.95% | 227,296 | $418.3M |
| 4 | LITE | 0.95% | 461,390 | $416.3M |
| 5 | CASY | 0.90% | 479,200 | $394.0M |
| 6 | FTI | 0.89% | 5,171,157 | $390.8M |
| 7 | COHR | 0.88% | 1,211,455 | $387.3M |
| 8 | RVMD | 0.84% | 2,563,052 | $369.4M |
| 9 | CRDO | 0.83% | 2,101,134 | $365.6M |
| 10 | ALAB | 0.83% | 1,869,971 | $364.2M |
| 11 | NTRA | 0.80% | 1,712,239 | $353.0M |
| 12 | CW | 0.78% | 476,557 | $343.2M |
| 13 | FTAI | 0.75% | 1,325,719 | $331.0M |
| 14 | MTZ | 0.73% | 815,781 | $321.5M |
| 15 | FN | 0.72% | 462,986 | $316.4M |
2026-05-23
15 holdings · 13.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | BE | 1.11% | 1,722,316 | $488.0M |
| 2 | CIEN | 1.10% | 914,087 | $482.3M |
| 3 | FIX | 0.95% | 227,296 | $418.3M |
| 4 | LITE | 0.95% | 461,390 | $416.3M |
| 5 | CASY | 0.90% | 479,200 | $394.0M |
| 6 | FTI | 0.89% | 5,171,157 | $390.8M |
| 7 | COHR | 0.88% | 1,211,455 | $387.3M |
| 8 | RVMD | 0.84% | 2,563,052 | $369.4M |
| 9 | ALAB | 0.83% | 1,869,971 | $364.2M |
| 10 | CRDO | 0.83% | 2,101,134 | $365.6M |
| 11 | NTRA | 0.80% | 1,712,239 | $353.0M |
| 12 | CW | 0.78% | 476,557 | $343.2M |
| 13 | FTAI | 0.75% | 1,325,719 | $331.0M |
| 14 | MTZ | 0.73% | 815,781 | $321.5M |
| 15 | FN | 0.72% | 462,986 | $316.4M |
2026-05-22
15 holdings · 13.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | BE | 1.11% | 1,722,316 | $488.0M |
| 2 | CIEN | 1.10% | 914,087 | $482.3M |
| 3 | LITE | 0.95% | 461,390 | $416.3M |
| 4 | FIX | 0.95% | 227,296 | $418.3M |
| 5 | CASY | 0.90% | 479,200 | $394.0M |
| 6 | FTI | 0.89% | 5,171,157 | $390.8M |
| 7 | COHR | 0.88% | 1,211,455 | $387.3M |
| 8 | RVMD | 0.84% | 2,563,052 | $369.4M |
| 9 | ALAB | 0.83% | 1,869,971 | $364.2M |
| 10 | CRDO | 0.83% | 2,101,134 | $365.6M |
| 11 | NTRA | 0.80% | 1,712,239 | $353.0M |
| 12 | CW | 0.78% | 476,557 | $343.2M |
| 13 | FTAI | 0.75% | 1,325,719 | $331.0M |
| 14 | MTZ | 0.73% | 815,781 | $321.5M |
| 15 | FN | 0.72% | 462,986 | $316.4M |
2026-05-21
15 holdings · 13.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | BE | 1.11% | 1,722,316 | $488.0M |
| 2 | CIEN | 1.10% | 914,087 | $482.3M |
| 3 | FIX | 0.95% | 227,296 | $418.3M |
| 4 | LITE | 0.95% | 461,390 | $416.3M |
| 5 | CASY | 0.90% | 479,200 | $394.0M |
| 6 | FTI | 0.89% | 5,171,157 | $390.8M |
| 7 | COHR | 0.88% | 1,211,455 | $387.3M |
| 8 | RVMD | 0.84% | 2,563,052 | $369.4M |
| 9 | CRDO | 0.83% | 2,101,134 | $365.6M |
| 10 | ALAB | 0.83% | 1,869,971 | $364.2M |
| 11 | NTRA | 0.80% | 1,712,239 | $353.0M |
| 12 | CW | 0.78% | 476,557 | $343.2M |
| 13 | FTAI | 0.75% | 1,325,719 | $331.0M |
| 14 | MTZ | 0.73% | 815,781 | $321.5M |
| 15 | FN | 0.72% | 462,986 | $316.4M |
2026-05-20
15 holdings · 13.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | BE | 1.11% | 1,722,316 | $488.0M |
| 2 | CIEN | 1.10% | 914,087 | $482.3M |
| 3 | FIX | 0.95% | 227,296 | $418.3M |
| 4 | LITE | 0.95% | 461,390 | $416.3M |
| 5 | CASY | 0.90% | 479,200 | $394.0M |
| 6 | FTI | 0.89% | 5,171,157 | $390.8M |
| 7 | COHR | 0.88% | 1,211,455 | $387.3M |
| 8 | RVMD | 0.84% | 2,563,052 | $369.4M |
| 9 | CRDO | 0.83% | 2,101,134 | $365.6M |
| 10 | ALAB | 0.83% | 1,869,971 | $364.2M |
| 11 | NTRA | 0.80% | 1,712,239 | $353.0M |
| 12 | CW | 0.78% | 476,557 | $343.2M |
| 13 | FTAI | 0.75% | 1,325,719 | $331.0M |
| 14 | MTZ | 0.73% | 815,781 | $321.5M |
| 15 | FN | 0.72% | 462,986 | $316.4M |
2026-05-19
15 holdings · 13.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | BE | 1.11% | 1,722,316 | $488.0M |
| 2 | CIEN | 1.10% | 914,087 | $482.3M |
| 3 | LITE | 0.95% | 461,390 | $416.3M |
| 4 | FIX | 0.95% | 227,296 | $418.3M |
| 5 | CASY | 0.90% | 479,200 | $394.0M |
| 6 | FTI | 0.89% | 5,171,157 | $390.8M |
| 7 | COHR | 0.88% | 1,211,455 | $387.3M |
| 8 | RVMD | 0.84% | 2,563,052 | $369.4M |
| 9 | ALAB | 0.83% | 1,869,971 | $364.2M |
| 10 | CRDO | 0.83% | 2,101,134 | $365.6M |
| 11 | NTRA | 0.80% | 1,712,239 | $353.0M |
| 12 | CW | 0.78% | 476,557 | $343.2M |
| 13 | FTAI | 0.75% | 1,325,719 | $331.0M |
| 14 | MTZ | 0.73% | 815,781 | $321.5M |
| 15 | FN | 0.72% | 462,986 | $316.4M |
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 VBK 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 VBK’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: 2026-06-02.
SecuritiesDB is for informational purposes only. Not investment advice.