VOT(VOT)
AI Look-Through Summary
AI GeneratedThe VOT ETF, managing approximately $30.4 billion in assets, exhibits a distinct tilt toward growth-oriented sectors with technology and industrials comprising nearly half of its total portfolio weight at 26.1% and 22.2%, respectively. This heavy allocation suggests the fund is positioned to capture upside potential from innovation-driven companies while maintaining exposure to capital-intensive industrial firms. Within these dominant sectors, concentration risk appears moderate but notable; technology holdings include a diverse mix of semiconductor manufacturers like STX, MPWR, WDC, MSI, and MRVL, alongside industrials represented by VRT, PWR, and HWM. The presence of multiple top-tier names from the same sub-sectors indicates that performance will be heavily influenced by trends in chip fabrication and advanced manufacturing capabilities rather than being broadly diversified across unrelated industries.
Geographic exposure is not explicitly detailed in the provided data, but the sector composition implies a significant reliance on markets with robust infrastructure spending and high-tech adoption rates. The inclusion of consumer cyclical names like ROST alongside utilities such as CEG adds layers of volatility and defensive characteristics to an otherwise aggressive profile. With healthcare representing 8.1% and financial services just under 5%, the fund lacks substantial exposure to these traditionally stable sectors, further reinforcing its identity as a vehicle for investors seeking exposure to specific high-growth themes rather than broad market stability. The sheer size of $30.4 billion provides ample liquidity for large institutional flows, yet the sector skew means that macroeconomic shifts affecting technology valuations or industrial capital expenditure will disproportionately impact overall fund performance compared to more balanced equity strategies.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-19 23:00:11.584314+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 72/100The thematic alignment of the VOT ETF presents a mixed picture regarding its implied focus on value-oriented opportunities. While the fund name suggests an investment strategy centered on undervalued or resilient assets, the top holdings list reveals significant exposure to sectors that often trade at premium valuations rather than deep-value characteristics. Specifically, the heavy concentration in Technology stocks like STX and MRVL alongside Industrials such as VRT indicates a portfolio driven more by growth momentum than strict value metrics. The inclusion of diverse names across Consumer Cyclical and Real Estate further dilutes any singular thematic narrative, suggesting the fund may be utilizing broad market leaders to stabilize returns rather than adhering strictly to a defined value philosophy.
Sector coherence shows a distinct tilt toward Technology at 26.1% followed by Industrials at 22.2%, which accounts for nearly half of the total portfolio weight. This heavy reliance on these two sectors differentiates the fund from a broad market index but also introduces specific concentration risks if those industries face headwinds. The presence of Healthcare, Financial Services, and Real Estate provides some diversification, yet their relatively smaller weights mean they do not significantly offset the dominance of Tech and Industrials. With a top-10 concentration of 22.2%, the fund avoids extreme single-stock risk while maintaining enough breadth to capture sector-wide trends. Ultimately, the portfolio appears structured around established industry leaders across multiple sectors rather than a tightly defined value theme, offering investors exposure to broad economic drivers with moderate diversification benefits.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-23 08:05:04.00096+00
🏢 Sector Analysis
AI GeneratedThe sector allocation of this ETF presents a distinct tilt toward growth-oriented industries, with Technology and Industrials collectively accounting for nearly half of the portfolio's weight. This heavy emphasis on these two sectors suggests an investment thesis centered on capital appreciation driven by innovation and infrastructure expansion rather than defensive income generation or stability. The significant presence in Technology is further reinforced by its status as the largest single sector, while the substantial allocation to Industrials indicates a belief in manufacturing resilience and industrial automation trends. Conversely, the minimal exposure to Consumer Defensive sectors highlights an intentional avoidance of value traps typically associated with lower-growth environments, signaling that the fund manager prioritizes companies with high revenue elasticity over those providing steady cash flow during economic downturns.
Concentration risk appears moderate yet notable due to the specific composition within top-weighted categories. Although the Top-10 concentration stands at 22.2%, which is relatively dispersed compared to many narrow-sector funds, the sheer volume of holdings in Technology and Industrials means that sector-specific volatility could disproportionately impact overall performance. The inclusion of utility stocks like CEG among the top five holdings introduces a slight counterbalance within an otherwise aggressive growth profile, potentially aiming to smooth out drawdowns without sacrificing the primary thematic focus on expansionary industries. Furthermore, the sparse representation in Real Estate and Energy suggests that macroeconomic factors such as interest rate sensitivity or commodity cycles are not central pillars of this strategy, reinforcing a view that future returns will be decoupled from traditional cyclical drivers in those specific markets.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-21 05:43:09.326488+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share VOT's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of VOT's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| VOVO | $205B | — | 130 | 99.9% |
| QUSQUS | $1B | — | 124 | 98.6% |
| VTIVanguard Total Stock Market Index Fund ETF Shares | $2.1T | 0.03% | 112 | 96.3% |
| ONEOONEO | $25M | — | 118 | 91.9% |
| VONEVONE | $10B | — | 107 | 89.8% |
100% of VOT's portfolio by weight is also held by VO, which commands 7× more assets under management. When VO receives inflows, it mechanically buys these shared stocks — dragging VOT's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofVOT'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 88% 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
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 VOT collectively pay out 40% 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 56% 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
ProprietaryVOT is up 12.3% over the last 12 months. The underlying weighted earnings growth of its constituents is +35.0%. Despite earnings growth, valuations have contracted by 22.7% — 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 94% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of VOT's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of VOT's analyzed weight, 49% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 51% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 89% 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.
VOT has a Passive Crowding Score of 46/100. On average, 13.7% of the market capitalization of VOT'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 18 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 | STX | Seagate Technology Holdings plc Technology | 3.46% | 83.3x | 7/9 |
| 2 | VRT | Vertiv Holdings Co. Class A Industrials | 2.96% | 79.3x | 5/9 |
| 3 | PWR | Quanta Services Inc. Industrials | 2.56% | 98.0x | 5/9 |
| 4 | HWM | Howmet Aerospace Inc. Industrials | 2.29% | 59.9x | 8/9 |
| 5 | CEG | Constellation Energy Corp. Utilities | 2.27% | 25.0x | 6/9 |
| 6 | MPWR | Monolithic Power Systems Inc. Technology | 1.76% | 112.4x | 5/9 |
| 7 | ROST | Ross Stores Inc. Consumer Cyclical | 1.73% | 32.4x | — |
| 8 | WDC | Western Digital Corp. Technology | 1.73% | 31.8x | 6/9 |
| 9 | MSI | Motorola Solutions Inc. Technology | 1.71% | 32.6x | 6/9 |
| 10 | MRVL | Marvell Technology Inc. Technology | 1.69% | 70.4x | 8/9 |
| 11 | TDG | TransDigm Group Inc. Industrials | 1.54% | 39.2x | 6/9 |
| 12 | RCL | Royal Caribbean Cruises Ltd. Consumer Cyclical | 1.51% | 17.4x | 7/9 |
| 13 | NET | Cloudflare Inc. Class A Technology | 1.45% | — | 4/9 |
| 14 | O | Realty Income Corp. Real Estate | 1.41% | 50.2x | 5/9 |
| 15 | DASH | DoorDash Inc. Class A Consumer Cyclical | 1.38% | 75.9x | 5/9 |
Historical Holdings Snapshots
Browse how VOT’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
15 holdings · 29.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | STX | 3.46% | 1,654,258 | $1.1B |
| 2 | VRT | 2.96% | 2,902,315 | $953.4M |
| 3 | PWR | 2.56% | 1,134,983 | $826.0M |
| 4 | HWM | 2.29% | 3,041,451 | $739.2M |
| 5 | CEG | 2.27% | 2,336,442 | $731.3M |
| 6 | MPWR | 1.76% | 351,022 | $566.7M |
| 7 | WDC | 1.73% | 1,285,937 | $558.8M |
| 8 | ROST | 1.73% | 2,453,585 | $558.9M |
| 9 | MSI | 1.71% | 1,256,656 | $551.7M |
| 10 | MRVL | 1.69% | 3,310,071 | $546.7M |
| 11 | TDG | 1.54% | 428,397 | $496.9M |
| 12 | RCL | 1.51% | 1,846,957 | $487.2M |
| 13 | NET | 1.45% | 2,288,618 | $469.1M |
| 14 | O | 1.41% | 7,073,268 | $454.4M |
| 15 | DASH | 1.38% | 2,643,438 | $445.8M |
2026-05-23
15 holdings · 29.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | STX | 3.46% | 1,654,258 | $1.1B |
| 2 | VRT | 2.96% | 2,902,315 | $953.4M |
| 3 | PWR | 2.56% | 1,134,983 | $826.0M |
| 4 | HWM | 2.29% | 3,041,451 | $739.2M |
| 5 | CEG | 2.27% | 2,336,442 | $731.3M |
| 6 | MPWR | 1.76% | 351,022 | $566.7M |
| 7 | WDC | 1.73% | 1,285,937 | $558.8M |
| 8 | ROST | 1.73% | 2,453,585 | $558.9M |
| 9 | MSI | 1.71% | 1,256,656 | $551.7M |
| 10 | MRVL | 1.69% | 3,310,071 | $546.7M |
| 11 | TDG | 1.54% | 428,397 | $496.9M |
| 12 | RCL | 1.51% | 1,846,957 | $487.2M |
| 13 | NET | 1.45% | 2,288,618 | $469.1M |
| 14 | O | 1.41% | 7,073,268 | $454.4M |
| 15 | DASH | 1.38% | 2,643,438 | $445.8M |
2026-05-22
15 holdings · 29.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | STX | 3.46% | 1,654,258 | $1.1B |
| 2 | VRT | 2.96% | 2,902,315 | $953.4M |
| 3 | PWR | 2.56% | 1,134,983 | $826.0M |
| 4 | HWM | 2.29% | 3,041,451 | $739.2M |
| 5 | CEG | 2.27% | 2,336,442 | $731.3M |
| 6 | MPWR | 1.76% | 351,022 | $566.7M |
| 7 | ROST | 1.73% | 2,453,585 | $558.9M |
| 8 | WDC | 1.73% | 1,285,937 | $558.8M |
| 9 | MSI | 1.71% | 1,256,656 | $551.7M |
| 10 | MRVL | 1.69% | 3,310,071 | $546.7M |
| 11 | TDG | 1.54% | 428,397 | $496.9M |
| 12 | RCL | 1.51% | 1,846,957 | $487.2M |
| 13 | NET | 1.45% | 2,288,618 | $469.1M |
| 14 | O | 1.41% | 7,073,268 | $454.4M |
| 15 | DASH | 1.38% | 2,643,438 | $445.8M |
2026-05-21
15 holdings · 29.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | STX | 3.46% | 1,654,258 | $1.1B |
| 2 | VRT | 2.96% | 2,902,315 | $953.4M |
| 3 | PWR | 2.56% | 1,134,983 | $826.0M |
| 4 | HWM | 2.29% | 3,041,451 | $739.2M |
| 5 | CEG | 2.27% | 2,336,442 | $731.3M |
| 6 | MPWR | 1.76% | 351,022 | $566.7M |
| 7 | ROST | 1.73% | 2,453,585 | $558.9M |
| 8 | WDC | 1.73% | 1,285,937 | $558.8M |
| 9 | MSI | 1.71% | 1,256,656 | $551.7M |
| 10 | MRVL | 1.69% | 3,310,071 | $546.7M |
| 11 | TDG | 1.54% | 428,397 | $496.9M |
| 12 | RCL | 1.51% | 1,846,957 | $487.2M |
| 13 | NET | 1.45% | 2,288,618 | $469.1M |
| 14 | O | 1.41% | 7,073,268 | $454.4M |
| 15 | DASH | 1.38% | 2,643,438 | $445.8M |
2026-05-20
15 holdings · 29.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | STX | 3.46% | 1,654,258 | $1.1B |
| 2 | VRT | 2.96% | 2,902,315 | $953.4M |
| 3 | PWR | 2.56% | 1,134,983 | $826.0M |
| 4 | HWM | 2.29% | 3,041,451 | $739.2M |
| 5 | CEG | 2.27% | 2,336,442 | $731.3M |
| 6 | MPWR | 1.76% | 351,022 | $566.7M |
| 7 | ROST | 1.73% | 2,453,585 | $558.9M |
| 8 | WDC | 1.73% | 1,285,937 | $558.8M |
| 9 | MSI | 1.71% | 1,256,656 | $551.7M |
| 10 | MRVL | 1.69% | 3,310,071 | $546.7M |
| 11 | TDG | 1.54% | 428,397 | $496.9M |
| 12 | RCL | 1.51% | 1,846,957 | $487.2M |
| 13 | NET | 1.45% | 2,288,618 | $469.1M |
| 14 | O | 1.41% | 7,073,268 | $454.4M |
| 15 | DASH | 1.38% | 2,643,438 | $445.8M |
2026-05-19
15 holdings · 29.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | STX | 3.46% | 1,654,258 | $1.1B |
| 2 | VRT | 2.96% | 2,902,315 | $953.4M |
| 3 | PWR | 2.56% | 1,134,983 | $826.0M |
| 4 | HWM | 2.29% | 3,041,451 | $739.2M |
| 5 | CEG | 2.27% | 2,336,442 | $731.3M |
| 6 | MPWR | 1.76% | 351,022 | $566.7M |
| 7 | WDC | 1.73% | 1,285,937 | $558.8M |
| 8 | ROST | 1.73% | 2,453,585 | $558.9M |
| 9 | MSI | 1.71% | 1,256,656 | $551.7M |
| 10 | MRVL | 1.69% | 3,310,071 | $546.7M |
| 11 | TDG | 1.54% | 428,397 | $496.9M |
| 12 | RCL | 1.51% | 1,846,957 | $487.2M |
| 13 | NET | 1.45% | 2,288,618 | $469.1M |
| 14 | O | 1.41% | 7,073,268 | $454.4M |
| 15 | DASH | 1.38% | 2,643,438 | $445.8M |
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 VOT 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 VOT’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.