VSS(VSS)
AI Look-Through Summary
AI GeneratedThe VSS ETF presents a distinctively narrow exposure profile, with sector weights indicating that Financial Services accounts for only 1.0% of the portfolio, followed by Consumer Cyclical and Utilities at negligible levels below one percent each. This allocation suggests the fund is not designed to capture broad market movements or specific industry trends but rather targets a highly specialized segment where traditional sectors are virtually absent from its composition. The extreme thinness across standard economic categories implies that the underlying assets likely derive value from alternative metrics, such as geographic location or unique asset classes not captured by conventional GICS classifications, resulting in a portfolio that behaves independently of typical sector rotation strategies.
Top holdings concentration reveals an equally fragmented structure, where even the largest constituents represent merely 0.2% each within the $13 billion AUM framework. This uniform distribution across entities like ACLN and ATZ indicates a deliberate lack of reliance on any single issuer to drive performance, effectively minimizing idiosyncratic risk associated with individual company failures while simultaneously diluting potential upside from top-tier performers. The presence of tickers such as 2337, 6274, and 6515 alongside established names further underscores a diverse but shallow footprint where no single holding exerts meaningful influence on the fund's overall trajectory or volatility profile.
Geographically and quantitatively, the data points to an instrument constructed for investors seeking exposure to specific niches rather than broad diversification benefits found in standard equity funds. With such low weights across all major sectors and a flat distribution among top holdings, the ETF's performance will be heavily dictated by the aggregate behavior of its underlying basket rather than macroeconomic shifts affecting traditional industries or concentration risks tied to dominant market players. The $13 billion asset base provides liquidity for this specialized approach, yet the structural design necessitates that users evaluate returns based on the specific characteristics of these non-traditional exposures rather than conventional equity metrics.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-22 10:41:48.990642+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 10/100The investment theme implied by the ETF name "VSS" suggests a focus on small-cap value exposure, yet the provided data reveals significant misalignment with this premise. The top holdings list consists entirely of international equities from markets such as China and Taiwan, including entities like ACLN and HBM, which are predominantly large-cap technology or industrial firms rather than domestic small-value stocks. Furthermore, the sector breakdown shows negligible representation across traditional value sectors; for instance, Financial Services account for only 1.0% and Consumer Cyclical merely 0.5%, while Technology comprises a non-trivial 0.2%. The absence of any meaningful exposure to US-based small-cap companies indicates that the fund's actual composition diverges sharply from the thematic expectations set by its ticker symbol.
Concentration risk analysis highlights an extreme lack of diversification within the stated strategy, as the top ten holdings collectively represent a mere 2.2% of assets under management. This low concentration suggests the fund is not built around a specific sector or style but rather functions as a highly diversified international equity basket where individual positions are intentionally weighted to be insignificant. The sector weights further demonstrate that the portfolio lacks coherent thematic differentiation; with weightings spread thinly across eleven sectors and no single industry dominating, the fund appears designed for broad global market exposure rather than capturing a distinct small-cap value premium. Consequently, investors holding this instrument may find their actual risk profile differs substantially from what is implied by a name suggesting a targeted domestic value strategy.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-20 22:37:14.526372+00
🏢 Sector Analysis
AI GeneratedThe sector allocation profile of VSS reveals an investment thesis centered on extreme diversification across a broad market index, rather than exposure to specific industry themes or growth sectors. With the largest single-sector representation in Financial Services at merely 1.0%, followed by Consumer Cyclical and Utilities each below one percent, the fund demonstrates a deliberate avoidance of concentration risk inherent in sector-specific strategies. The negligible presence of high-conviction areas such as Technology (0.2%) and Energy (0.1%), alongside minimal allocations to Healthcare and Communication Services, indicates that the portfolio's performance will be driven by aggregate market movements rather than outperformance within any particular industry group. This structure suggests a mandate designed to mimic the overall equity market composition while filtering out idiosyncratic sector volatility through broad representation.
The fund exhibits an exceptionally low top-10 concentration of 2.2%, which is characteristic of large-cap blend indices where no single holding or small cluster of holdings exerts significant influence on total returns. This dispersion implies that the investment approach prioritizes stability and reduced idiosyncratic risk over aggressive factor tilts toward momentum, value, or growth within specific sub-sectors. The top five individual holdings each represent only 0.2% of the portfolio, further confirming that the strategy relies on a wide net rather than concentrated bets. Consequently, the fund's behavior is likely to align closely with general market beta, offering investors exposure to systemic trends while minimizing the impact of underperformance in any single company or industry vertical. The data reflects a passive replication model where sector weights are determined by underlying index constituents rather than active manager selection.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-22 23:09:07.484999+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share VSS's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 27% of VSS's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| SPDWSPDW | $36B | — | 299 | 26.7% |
27% of VSS's portfolio by weight is also held by SPDW, which commands 3× more assets under management. When SPDW receives inflows, it mechanically buys these shared stocks — dragging VSS's NAV along regardless of any thematic or sector catalyst.
Overlap computed from constituent-level holdings data across 1 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 8% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
Earnings vs. Price Decomposition
ProprietaryVSS is up 28.8% over the last 12 months. The underlying weighted earnings growth of its constituents is +21.1%. The remaining +7.7% 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 4% of fund weight with earnings data. Not investment advice.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | ATZ | Aritzia Inc. | 0.25% | — | — |
| 2 | ACLN | Accelleron Industries AG | 0.25% | — | — |
| 3 | FTT | Finning International Inc. | 0.24% | — | — |
| 4 | GTT | Gaztransport Et Technigaz SA | 0.22% | — | — |
| 5 | HBM | Hudbay Minerals Inc. | 0.22% | 13.4x | 6/9 |
| 6 | 2337 | Macronix International Co. Ltd. | 0.22% | — | — |
| 7 | GAW | Games Workshop Group plc | 0.22% | — | — |
| 8 | 6274 | Taiwan Union Technology Corp. | 0.21% | — | — |
| 9 | 6515 | WinWay Technology Co. Ltd. | 0.21% | — | — |
| 10 | SUBC | Subsea 7 SA | 0.20% | — | — |
| 11 | STB | Storebrand ASA | 0.20% | — | — |
| 12 | NKT | Nkt A/S | 0.20% | — | — |
| 13 | NEX | Nexans SA | 0.19% | — | — |
| 14 | NXE | NexGen Energy Ltd. | 0.19% | — | — |
| 15 | CPX | Capital Power Corp. | 0.19% | — | — |
Historical Holdings Snapshots
Browse how VSS’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
15 holdings · 3.2% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | ATZ | 0.25% | 354,353 | $37.4M |
| 2 | ACLN | 0.25% | 348,810 | $37.4M |
| 3 | FTT | 0.24% | 485,689 | $35.6M |
| 4 | GAW | 0.22% | 121,812 | $32.3M |
| 5 | HBM | 0.22% | 1,408,777 | $32.6M |
| 6 | 2337 | 0.22% | 6,575,386 | $32.9M |
| 7 | GTT | 0.22% | 136,048 | $33.1M |
| 8 | 6515 | 0.21% | 93,459 | $31.4M |
| 9 | 6274 | 0.21% | 926,000 | $30.5M |
| 10 | NKT | 0.20% | 200,016 | $29.5M |
| 11 | STB | 0.20% | 1,500,643 | $29.0M |
| 12 | SUBC | 0.20% | 835,571 | $30.1M |
| 13 | NXE | 0.19% | 2,263,223 | $28.4M |
| 14 | CPX | 0.19% | 578,829 | $27.7M |
| 15 | NEX | 0.19% | 149,810 | $28.0M |
2026-05-23
15 holdings · 3.2% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | ACLN | 0.25% | 348,810 | $37.4M |
| 2 | ATZ | 0.25% | 354,353 | $37.4M |
| 3 | FTT | 0.24% | 485,689 | $35.6M |
| 4 | GTT | 0.22% | 136,048 | $33.1M |
| 5 | GAW | 0.22% | 121,812 | $32.3M |
| 6 | HBM | 0.22% | 1,408,777 | $32.6M |
| 7 | 2337 | 0.22% | 6,575,386 | $32.9M |
| 8 | 6274 | 0.21% | 926,000 | $30.5M |
| 9 | 6515 | 0.21% | 93,459 | $31.4M |
| 10 | STB | 0.20% | 1,500,643 | $29.0M |
| 11 | NKT | 0.20% | 200,016 | $29.5M |
| 12 | SUBC | 0.20% | 835,571 | $30.1M |
| 13 | NEX | 0.19% | 149,810 | $28.0M |
| 14 | 2313 | 0.19% | 3,679,471 | $28.7M |
| 15 | NXE | 0.19% | 2,263,223 | $28.4M |
2026-05-22
15 holdings · 3.2% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | ATZ | 0.25% | 354,353 | $37.4M |
| 2 | ACLN | 0.25% | 348,810 | $37.4M |
| 3 | FTT | 0.24% | 485,689 | $35.6M |
| 4 | HBM | 0.22% | 1,408,777 | $32.6M |
| 5 | GAW | 0.22% | 121,812 | $32.3M |
| 6 | GTT | 0.22% | 136,048 | $33.1M |
| 7 | 2337 | 0.22% | 6,575,386 | $32.9M |
| 8 | 6274 | 0.21% | 926,000 | $30.5M |
| 9 | 6515 | 0.21% | 93,459 | $31.4M |
| 10 | STB | 0.20% | 1,500,643 | $29.0M |
| 11 | SUBC | 0.20% | 835,571 | $30.1M |
| 12 | NKT | 0.20% | 200,016 | $29.5M |
| 13 | 2313 | 0.19% | 3,679,471 | $28.7M |
| 14 | NXE | 0.19% | 2,263,223 | $28.4M |
| 15 | NEX | 0.19% | 149,810 | $28.0M |
2026-05-21
15 holdings · 3.2% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | ATZ | 0.25% | 354,353 | $37.4M |
| 2 | ACLN | 0.25% | 348,810 | $37.4M |
| 3 | FTT | 0.24% | 485,689 | $35.6M |
| 4 | GAW | 0.22% | 121,812 | $32.3M |
| 5 | GTT | 0.22% | 136,048 | $33.1M |
| 6 | 2337 | 0.22% | 6,575,386 | $32.9M |
| 7 | HBM | 0.22% | 1,408,777 | $32.6M |
| 8 | 6274 | 0.21% | 926,000 | $30.5M |
| 9 | 6515 | 0.21% | 93,459 | $31.4M |
| 10 | STB | 0.20% | 1,500,643 | $29.0M |
| 11 | SUBC | 0.20% | 835,571 | $30.1M |
| 12 | NKT | 0.20% | 200,016 | $29.5M |
| 13 | 2313 | 0.19% | 3,679,471 | $28.7M |
| 14 | NXE | 0.19% | 2,263,223 | $28.4M |
| 15 | NEX | 0.19% | 149,810 | $28.0M |
2026-05-20
15 holdings · 3.2% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | ATZ | 0.25% | 354,353 | $37.4M |
| 2 | ACLN | 0.25% | 348,810 | $37.4M |
| 3 | FTT | 0.24% | 485,689 | $35.6M |
| 4 | HBM | 0.22% | 1,408,777 | $32.6M |
| 5 | GAW | 0.22% | 121,812 | $32.3M |
| 6 | 2337 | 0.22% | 6,575,386 | $32.9M |
| 7 | GTT | 0.22% | 136,048 | $33.1M |
| 8 | 6274 | 0.21% | 926,000 | $30.5M |
| 9 | 6515 | 0.21% | 93,459 | $31.4M |
| 10 | NKT | 0.20% | 200,016 | $29.5M |
| 11 | STB | 0.20% | 1,500,643 | $29.0M |
| 12 | SUBC | 0.20% | 835,571 | $30.1M |
| 13 | 2313 | 0.19% | 3,679,471 | $28.7M |
| 14 | NXE | 0.19% | 2,263,223 | $28.4M |
| 15 | NEX | 0.19% | 149,810 | $28.0M |
2026-05-19
15 holdings · 3.2% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | ATZ | 0.25% | 354,353 | $37.4M |
| 2 | ACLN | 0.25% | 348,810 | $37.4M |
| 3 | FTT | 0.24% | 485,689 | $35.6M |
| 4 | GAW | 0.22% | 121,812 | $32.3M |
| 5 | HBM | 0.22% | 1,408,777 | $32.6M |
| 6 | 2337 | 0.22% | 6,575,386 | $32.9M |
| 7 | GTT | 0.22% | 136,048 | $33.1M |
| 8 | 6274 | 0.21% | 926,000 | $30.5M |
| 9 | 6515 | 0.21% | 93,459 | $31.4M |
| 10 | NKT | 0.20% | 200,016 | $29.5M |
| 11 | STB | 0.20% | 1,500,643 | $29.0M |
| 12 | SUBC | 0.20% | 835,571 | $30.1M |
| 13 | 2313 | 0.19% | 3,679,471 | $28.7M |
| 14 | CPX | 0.19% | 578,829 | $27.7M |
| 15 | NXE | 0.19% | 2,263,223 | $28.4M |
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 VSS 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 VSS’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.