ETF Factor Report

Data as of market close on 9/25/2020.

Validea's ETF reports provide factor exposures and other fundamental data for US equity ETFs.
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Total Assets: $259,158,900 Expense Ratio: 0.35% Active Share vs. S&P 500: 94.35% Active Share vs. Russell 2000: 96.77% Fee for Active Share: 0.37% Fee for Value Exposure: 0.51% Highest Scoring Metric: Price/Sales
Issuer:State Street Validea Category: Large-Cap Value Number of Holdings: 86 Median Mkt Cap (mil): $3,069 Average Mkt Cap (mil): $41,047 Implied Liquidity: $196,203,600 Concentration: 17/100
The investment seeks to provide investment results that before fees and expenses correspond generally to the total return performance of an index derived from the retail segment of a U.S. total market composite index. In seeking to track the performance of the S&P Retail Select Industry Index (the "index") the fund employs a sampling strategy. It generally invests substantially all but at least 80% of its total assets in the securities comprising the index. The index represents the retail segment of the S&P Total Market Index ("S&P TMI"). The fund is non-diversified.

Factor Profile

XRT's exposure to the major factors (100 is highest).

XRT Sector Exposure

Largest overweights and underweights relative to the S&P 500

XRT Industry Exposure

Largest overweights and underweights relative to the S&P 500

Performance Disclaimer: Returns presented on are model returns and do not represent actual trading. As a result, they do not incorporate any commissions or other trading costs or fees. Model portfolios with inception dates on or after 12/30/2005 include a combination of back tested and live model returns. The back-tested performance results shown are hypothetical and are not the result of real-time management of actual accounts. The back-testing of performance differs from actual account performance because the investment strategy may be adjusted at any time, for any reason and can continue to be changed until desired or better performance results are achieved. Back-tested returns are presented to provide general information regarding how the underlying strategy behind the portfolio performed in our historical testing. A back-tested strategy has the benefit of hindsight and the results do not reflect the impact that material economic or market factors may have had on advisor's decision-making if actual client assets were being managed using this approach.

Optimal portfolios presented on represent the rebalancing period that has led to the best historical performance for each of our equity models. Each optimal portfolio was determined after the fact with performance information that was not available at portfolio inception. As a result, an investor could not have invested in the optimal portfolio since its inception. Optimal portfolios are presented to allow investors to quickly determine the portfolio size and rebalancing period that has performed best for each of our models in our historical testing.

Both the model portfolio and benchmark returns presented for all equity portfolios on are not inclusive of dividends. Returns for our ETF portfolios and trend following system, and the benchmarks they are compared to, are inclusive of dividends. The S&P 500 is presented as a benchmark because it is the most widely followed benchmark of the overall US market and is most often used by investors for return comparison purposes. As with any investment strategy, there is potential for profit as well as the possibility of loss and investors may incur a loss despite a past history of gains. Past performance does not guarantee future results. Results will vary with economic and market conditions.