Sensible Investor

Immutable verification record

AQR Large Cap Defensive Style Fund

Run 363649da-fcfb-4007-87ef-de06de7710ca · portfolio period 2026-03-31 · captured 2026-07-29T14:22:09.616Z

This is the permanent record of what our July 29, 2026 data run computed for AQR Large Cap Defensive Style Fund, and the exact SEC documents every number came from — it exists so anyone can check us.

Current interpretation · methodology 1.5

How to read this prior-run record now

This portfolio genuinely differs from the S&P 500 (69.4% active share). Its 0.59% fee buys real active management; whether it earned that fee is not something holdings can show.

This interpretation is computed under the current methodology and is not inserted into the immutable record below.

Cite these figures

Each snippet includes the figure’s source-event date and immutable verification URL.

Best-fit active share

Sensible Investor, “AQR Large Cap Defensive Style Fund — best-fit active share,” 69.4% versus the S&P 500, fund portfolio as of 2026-03-31; measured against the filed holdings of iShares Core S&P 500 ETF (IVV), as of 2026-03-31. https://sensible-investor.com/registry/aueix/as-of/363649da-fcfb-4007-87ef-de06de7710ca

AUEIX filed expense ratio

Sensible Investor, “AQR Large Cap Defensive Style Fund — filed expense ratio,” 0.59% for AUEIX, as of 2025-09-30. https://sensible-investor.com/registry/aueix/as-of/363649da-fcfb-4007-87ef-de06de7710ca

AUEIX fee per active unit

Sensible Investor, “AQR Large Cap Defensive Style Fund — fee per unit of active management,” 0.85% using the AUEIX expense ratio as of 2025-09-30 and fund portfolio as of 2026-03-31. https://sensible-investor.com/registry/aueix/as-of/363649da-fcfb-4007-87ef-de06de7710ca

Active share by comparison index

Holdings difference for every comparison calculated in this run.
IndexActive shareHoldings evidenceIdentifier match
the S&P 50069.4%measured against the filed holdings of iShares Core S&P 500 ETF (IVV), as of 2026-03-3189.3%
the Russell 1000 index70.1%measured against the filed holdings of iShares Russell 1000 ETF (IWB), as of 2026-03-31100.0%
the total US market71.2%measured against the filed holdings of Vanguard Total Stock Market ETF (VTI), as of 2026-03-3198.9%
the Russell 1000 Value index71.7%measured against the filed holdings of iShares Russell 1000 Value ETF (IWD), as of 2026-03-3175.9%
the Russell 1000 Growth index77.9%measured against the filed holdings of iShares Russell 1000 Growth ETF (IWF), as of 2026-03-3155.5%
the S&P MidCap 40097.2%measured against the filed holdings of iShares Core S&P Mid-Cap ETF (IJH), as of 2026-03-314.8%
the S&P SmallCap 60099.7%measured against the filed holdings of iShares Core S&P Small-Cap ETF (IJR), as of 2026-03-310.3%
the Russell 2000 index100.0%measured against the filed holdings of iShares Russell 2000 ETF (IWM), as of 2026-03-310.0%

Filed expense ratios by share class

Each fee is tied to its filed SEC source and period.
Share classExpense ratioFiling periodSEC document
AUEIX (AQR Large Cap Defensive Style Fund)0.59%2025-09-30Open SEC expense filing
AUENX (AQR Large Cap Defensive Style Fund)0.92%2025-09-30Open SEC expense filing
QUERX (AQR Large Cap Defensive Style Fund)0.53%2025-09-30Open SEC expense filing

Match rates

How much of the fund filing could be matched to comparison holdings. A benchmark proxy is not compared with itself.
Fund identifier match89.3%
the S&P 50089.3%
the Russell 1000 index100.0%
the total US market98.9%
the Russell 1000 Value index75.9%
the Russell 1000 Growth index55.5%
the S&P MidCap 4004.8%
the S&P SmallCap 6000.3%
the Russell 2000 index0.0%

Fee-drag windows

Dollar fee drag from licensed return windows; the lowest-cost control class is omitted rather than compared with itself, and missing history remains explicit.
Share classWindowFee dragWindow dates
AUEIX10 years$19,7352016-07-29 to 2026-07-29
AUEIX20 years$82,6872006-07-31 to 2026-07-29
AUEIX30 yearsproxy history begins 2000 — no full 30-year windowProxy history begins 2000-05-19
AUENX10 years$30,5682016-07-29 to 2026-07-29
AUENX20 years$126,1872006-07-31 to 2026-07-29
AUENX30 yearsproxy history begins 2000 — no full 30-year windowProxy history begins 2000-05-19
QUERX10 years$17,7352016-07-29 to 2026-07-29
QUERX20 years$74,5092006-07-31 to 2026-07-29
QUERX30 yearsproxy history begins 2000 — no full 30-year windowProxy history begins 2000-05-19

Check it yourself

  1. Open the fund’s linked SEC holdings filing and, for fees, the linked SEC expense filing in the table above.
  2. Find each security identifier and portfolio weight in the holdings filing, and the net annual operating expense for the relevant share class in its expense filing.
  3. Recalculate the comparison using the active-share formula and portfolio rules.
Raw record (JSON)

Download this record as JSON

{
  "runId": "363649da-fcfb-4007-87ef-de06de7710ca",
  "capturedAt": "2026-07-29T14:22:09.616Z",
  "methodologyVersion": "closet-index@2.0.0",
  "cohortVersion": "cohort-v2@2026-07-24",
  "cohortRank": 2511,
  "seriesId": "S000037429",
  "cik": 1444822,
  "seriesName": "AQR Large Cap Defensive Style Fund",
  "classes": [
    {
      "classId": "C000115554",
      "ticker": "AUEIX",
      "netExpenseRatio": 0.0059,
      "expensePeriod": "2025-09-30",
      "sourceAccession": "0001193125-26-210899",
      "sourceUrl": "https://www.sec.gov/Archives/edgar/data/1444822/000119312526210899/0001193125-26-210899-index.html",
      "missingReason": null
    },
    {
      "classId": "C000115553",
      "ticker": "AUENX",
      "netExpenseRatio": 0.0092,
      "expensePeriod": "2025-09-30",
      "sourceAccession": "0001193125-26-210899",
      "sourceUrl": "https://www.sec.gov/Archives/edgar/data/1444822/000119312526210899/0001193125-26-210899-index.html",
      "missingReason": null
    },
    {
      "classId": "C000145934",
      "ticker": "QUERX",
      "netExpenseRatio": 0.0053,
      "expensePeriod": "2025-09-30",
      "sourceAccession": "0001193125-26-210899",
      "sourceUrl": "https://www.sec.gov/Archives/edgar/data/1444822/000119312526210899/0001193125-26-210899-index.html",
      "missingReason": null
    }
  ],
  "fundFiling": {
    "cik": 1444822,
    "seriesId": "S000037429",
    "accession": "0002071691-26-010951",
    "filingDate": "2026-05-22",
    "periodOfReport": "2026-03-31",
    "primaryDocumentUrl": "https://www.sec.gov/Archives/edgar/data/1444822/000207169126010951/primary_doc.xml"
  },
  "proxyPeriods": {
    "IVV": {
      "periodOfReport": "2026-03-31",
      "accession": "0002071691-26-012459",
      "filingDate": "2026-05-28"
    },
    "IWB": {
      "periodOfReport": "2026-03-31",
      "accession": "0001004726-26-003726",
      "filingDate": "2026-05-22"
    },
    "IWF": {
      "periodOfReport": "2026-03-31",
      "accession": "0001004726-26-003755",
      "filingDate": "2026-05-22"
    },
    "IWD": {
      "periodOfReport": "2026-03-31",
      "accession": "0001004726-26-003757",
      "filingDate": "2026-05-22"
    },
    "IJH": {
      "periodOfReport": "2026-03-31",
      "accession": "0000940400-26-020794",
      "filingDate": "2026-05-26"
    },
    "IJR": {
      "periodOfReport": "2026-03-31",
      "accession": "0000940400-26-020784",
      "filingDate": "2026-05-26"
    },
    "IWM": {
      "periodOfReport": "2026-03-31",
      "accession": "0002071691-26-012507",
      "filingDate": "2026-05-28"
    },
    "VTI": {
      "periodOfReport": "2026-03-31",
      "accession": "0000036405-26-000323",
      "filingDate": "2026-05-28"
    }
  },
  "comparisons": [
    {
      "proxy": "IVV",
      "activeShare": 0.6938786869139576,
      "identifierMatchRate": 0.893186488886186,
      "matchRateByIdentifier": {
        "cusip6": 0.8574158492395089,
        "isin": 0.03577063964667716,
        "unmatched": 0.10681351111381399
      },
      "topActiveBets": [
        {
          "name": "NVIDIA Corp.",
          "fundWeight": 0.00807164948905785,
          "proxyWeight": 0.07581440036297338,
          "activeWeight": -0.06774275087391553,
          "blbTicker": "NVDA"
        },
        {
          "name": "Apple, Inc.",
          "fundWeight": 0.015040114270304914,
          "proxyWeight": 0.06665491076154913,
          "activeWeight": -0.051614796491244216,
          "blbTicker": "AAPL"
        },
        {
          "name": "Alphabet, Inc.",
          "fundWeight": 0.014739241261231294,
          "proxyWeight": 0.05395011904789741,
          "activeWeight": -0.03921087778666612,
          "blbTicker": "GOOGL"
        },
        {
          "name": "Amazon.com, Inc.",
          "fundWeight": 0.001246128970228905,
          "proxyWeight": 0.03639701168408969,
          "activeWeight": -0.035150882713860784,
          "blbTicker": "AMZN"
        },
        {
          "name": "Microsoft Corp.",
          "fundWeight": 0.01585808797517411,
          "proxyWeight": 0.04917390073516307,
          "activeWeight": -0.03331581275998896,
          "blbTicker": "MSFT"
        },
        {
          "name": "Broadcom, Inc.",
          "fundWeight": 0.0014170988595919034,
          "proxyWeight": 0.026252612903398073,
          "activeWeight": -0.02483551404380617,
          "blbTicker": "AVGO"
        },
        {
          "name": "Tesla, Inc.",
          "fundWeight": 0,
          "proxyWeight": 0.018704003099974168,
          "activeWeight": -0.018704003099974168,
          "blbTicker": "TSLA"
        },
        {
          "name": "United Therapeutics Corp.",
          "fundWeight": 0.018102056507770484,
          "proxyWeight": 0,
          "activeWeight": 0.018102056507770484,
          "blbTicker": "UTHR"
        },
        {
          "name": "Berkshire Hathaway, Inc.",
          "fundWeight": 0,
          "proxyWeight": 0.015719799867718154,
          "activeWeight": -0.015719799867718154,
          "blbTicker": null
        },
        {
          "name": "Kroger Co. (The)",
          "fundWeight": 0.01643730525786344,
          "proxyWeight": 0.0007536156551337557,
          "activeWeight": 0.015683689602729686,
          "blbTicker": null
        }
      ]
    },
    {
      "proxy": "IWB",
      "activeShare": 0.700620326469219,
      "identifierMatchRate": 1.0000000000000002,
      "matchRateByIdentifier": {
        "cusip6": 0.9546700734539789,
        "isin": 0.04532992654602128,
        "unmatched": 0
      },
      "topActiveBets": [
        {
          "name": "NVIDIA CORPORATION",
          "fundWeight": 0.00807164948905785,
          "proxyWeight": 0.0682556096101088,
          "activeWeight": -0.060183960121050956,
          "blbTicker": "NVDA"
        },
        {
          "name": "APPLE INC.",
          "fundWeight": 0.015040114270304914,
          "proxyWeight": 0.061141711446034384,
          "activeWeight": -0.04610159717572947,
          "blbTicker": "AAPL"
        },
        {
          "name": "ALPHABET INC.",
          "fundWeight": 0.014739241261231294,
          "proxyWeight": 0.05065642492692142,
          "activeWeight": -0.035917183665690126,
          "blbTicker": "GOOGL"
        },
        {
          "name": "AMAZON.COM, INC.",
          "fundWeight": 0.001246128970228905,
          "proxyWeight": 0.03340870139504772,
          "activeWeight": -0.03216257242481882,
          "blbTicker": "AMZN"
        },
        {
          "name": "MICROSOFT CORPORATION",
          "fundWeight": 0.01585808797517411,
          "proxyWeight": 0.04590848939043174,
          "activeWeight": -0.030050401415257628,
          "blbTicker": "MSFT"
        },
        {
          "name": "BROADCOM INC.",
          "fundWeight": 0.0014170988595919034,
          "proxyWeight": 0.02390302187384336,
          "activeWeight": -0.022485923014251456,
          "blbTicker": "AVGO"
        },
        {
          "name": "UNITED THERAPEUTICS CORPORATION",
          "fundWeight": 0.018102056507770484,
          "proxyWeight": 0.0004195217983873746,
          "activeWeight": 0.017682534709383108,
          "blbTicker": "UTHR"
        },
        {
          "name": "TESLA, INC.",
          "fundWeight": 0,
          "proxyWeight": 0.01754062268368833,
          "activeWeight": -0.01754062268368833,
          "blbTicker": "TSLA"
        },
        {
          "name": "THE KROGER CO.",
          "fundWeight": 0.01643730525786344,
          "proxyWeight": 0.0007026538029549492,
          "activeWeight": 0.01573465145490849,
          "blbTicker": null
        },
        {
          "name": "ZOOM COMMUNICATIONS, INC.",
          "fundWeight": 0.015329717962705642,
          "proxyWeight": 0.0003582702325591914,
          "activeWeight": 0.01497144773014645,
          "blbTicker": "ZM"
        }
      ]
    },
    {
      "proxy": "VTI",
      "activeShare": 0.7121521164125019,
      "identifierMatchRate": 0.9891153518316101,
      "matchRateByIdentifier": {
        "cusip6": 0.953344712184933,
        "isin": 0.03577063964667716,
        "unmatched": 0.010884648168389854
      },
      "topActiveBets": [
        {
          "name": "NVIDIA Corp",
          "fundWeight": 0.00807164948905785,
          "proxyWeight": 0.06442311309214421,
          "activeWeight": -0.05635146360308636,
          "blbTicker": "NVDA"
        },
        {
          "name": "Apple Inc",
          "fundWeight": 0.015040114270304914,
          "proxyWeight": 0.0596212042704501,
          "activeWeight": -0.04458109000014518,
          "blbTicker": "AAPL"
        },
        {
          "name": "Alphabet Inc",
          "fundWeight": 0.014739241261231294,
          "proxyWeight": 0.0480065065993559,
          "activeWeight": -0.03326726533812461,
          "blbTicker": "GOOGL"
        },
        {
          "name": "Amazon.com Inc",
          "fundWeight": 0.001246128970228905,
          "proxyWeight": 0.03219839879780581,
          "activeWeight": -0.030952269827576907,
          "blbTicker": "AMZN"
        },
        {
          "name": "Microsoft Corp",
          "fundWeight": 0.01585808797517411,
          "proxyWeight": 0.043984352598584776,
          "activeWeight": -0.028126264623410665,
          "blbTicker": "MSFT"
        },
        {
          "name": "Broadcom Inc",
          "fundWeight": 0.0014170988595919034,
          "proxyWeight": 0.023482055276800976,
          "activeWeight": -0.022064956417209073,
          "blbTicker": "AVGO"
        },
        {
          "name": "United Therapeutics Corp",
          "fundWeight": 0.018102056507770484,
          "proxyWeight": 0.00041609123718562867,
          "activeWeight": 0.017685965270584855,
          "blbTicker": "UTHR"
        },
        {
          "name": "Tesla Inc",
          "fundWeight": 0,
          "proxyWeight": 0.016742701430295753,
          "activeWeight": -0.016742701430295753,
          "blbTicker": "TSLA"
        },
        {
          "name": "Kroger Co/The",
          "fundWeight": 0.01643730525786344,
          "proxyWeight": 0.0006597243148144736,
          "activeWeight": 0.015777580943048968,
          "blbTicker": null
        },
        {
          "name": "Zoom Video Communications Inc",
          "fundWeight": 0.015329717962705642,
          "proxyWeight": 0.00032512143738285676,
          "activeWeight": 0.015004596525322786,
          "blbTicker": null
        }
      ]
    },
    {
      "proxy": "IWD",
      "activeShare": 0.717031756343618,
      "identifierMatchRate": 0.7592841127007561,
      "matchRateByIdentifier": {
        "cusip6": 0.723513473054079,
        "isin": 0.03577063964667716,
        "unmatched": 0.24071588729924387
      },
      "topActiveBets": [
        {
          "name": "BERKSHIRE HATHAWAY INC.",
          "fundWeight": 0,
          "proxyWeight": 0.0291526208979656,
          "activeWeight": -0.0291526208979656,
          "blbTicker": null
        },
        {
          "name": "JPMORGAN CHASE & CO.",
          "fundWeight": 0.0015596375956375887,
          "proxyWeight": 0.026357976973082797,
          "activeWeight": -0.02479833937744521,
          "blbTicker": "JPM"
        },
        {
          "name": "ALPHABET INC.",
          "fundWeight": 0.014739241261231294,
          "proxyWeight": 0.0354650771022033,
          "activeWeight": -0.020725835840972005,
          "blbTicker": "GOOGL"
        },
        {
          "name": "UNITED THERAPEUTICS CORPORATION",
          "fundWeight": 0.018102056507770484,
          "proxyWeight": 0.000827122663879916,
          "activeWeight": 0.017274933843890568,
          "blbTicker": "UTHR"
        },
        {
          "name": "AMAZON.COM, INC.",
          "fundWeight": 0.001246128970228905,
          "proxyWeight": 0.01811686041169112,
          "activeWeight": -0.016870731441462214,
          "blbTicker": "AMZN"
        },
        {
          "name": "Adobe, Inc.",
          "fundWeight": 0.015873760316752226,
          "proxyWeight": 0,
          "activeWeight": 0.015873760316752226,
          "blbTicker": "ADBE"
        },
        {
          "name": "Microsoft Corp.",
          "fundWeight": 0.01585808797517411,
          "proxyWeight": 0,
          "activeWeight": 0.01585808797517411,
          "blbTicker": "MSFT"
        },
        {
          "name": "Costco Wholesale Corp.",
          "fundWeight": 0.015590637449530343,
          "proxyWeight": 0,
          "activeWeight": 0.015590637449530343,
          "blbTicker": null
        },
        {
          "name": "THE KROGER CO.",
          "fundWeight": 0.01643730525786344,
          "proxyWeight": 0.0013845356487851635,
          "activeWeight": 0.015052769609078278,
          "blbTicker": null
        },
        {
          "name": "O'Reilly Automotive, Inc.",
          "fundWeight": 0.015257368379196105,
          "proxyWeight": 0.00020834622860565555,
          "activeWeight": 0.01504902215059045,
          "blbTicker": "ORLY"
        }
      ]
    },
    {
      "proxy": "IWF",
      "activeShare": 0.7785259624142875,
      "identifierMatchRate": 0.555217546250135,
      "matchRateByIdentifier": {
        "cusip6": 0.5401161404551331,
        "isin": 0.015101405795001877,
        "unmatched": 0.444782453749865
      },
      "topActiveBets": [
        {
          "name": "NVIDIA CORPORATION",
          "fundWeight": 0.00807164948905785,
          "proxyWeight": 0.12945460879335305,
          "activeWeight": -0.1213829593042952,
          "blbTicker": "NVDA"
        },
        {
          "name": "APPLE INC.",
          "fundWeight": 0.015040114270304914,
          "proxyWeight": 0.11656856171702823,
          "activeWeight": -0.10152844744672332,
          "blbTicker": "AAPL"
        },
        {
          "name": "MICROSOFT CORPORATION",
          "fundWeight": 0.01585808797517411,
          "proxyWeight": 0.08836575239353556,
          "activeWeight": -0.07250766441836144,
          "blbTicker": "MSFT"
        },
        {
          "name": "ALPHABET INC.",
          "fundWeight": 0.014739241261231294,
          "proxyWeight": 0.06417329036166634,
          "activeWeight": -0.04943404910043505,
          "blbTicker": "GOOGL"
        },
        {
          "name": "BROADCOM INC.",
          "fundWeight": 0.0014170988595919034,
          "proxyWeight": 0.0479715320446599,
          "activeWeight": -0.046554433185067995,
          "blbTicker": "AVGO"
        },
        {
          "name": "AMAZON.COM, INC.",
          "fundWeight": 0.001246128970228905,
          "proxyWeight": 0.046659882463126814,
          "activeWeight": -0.04541375349289791,
          "blbTicker": "AMZN"
        },
        {
          "name": "TESLA, INC.",
          "fundWeight": 0,
          "proxyWeight": 0.03554779995344603,
          "activeWeight": -0.03554779995344603,
          "blbTicker": "TSLA"
        },
        {
          "name": "ELI LILLY AND COMPANY",
          "fundWeight": 0,
          "proxyWeight": 0.026625797887620695,
          "activeWeight": -0.026625797887620695,
          "blbTicker": null
        },
        {
          "name": "META PLATFORMS, INC.",
          "fundWeight": 0.013770019983973562,
          "proxyWeight": 0.03462435618217455,
          "activeWeight": -0.020854336198200984,
          "blbTicker": "META"
        },
        {
          "name": "United Therapeutics Corp.",
          "fundWeight": 0.018102056507770484,
          "proxyWeight": 0,
          "activeWeight": 0.018102056507770484,
          "blbTicker": "UTHR"
        }
      ]
    },
    {
      "proxy": "IJH",
      "activeShare": 0.9723194252446439,
      "identifierMatchRate": 0.04763462483072497,
      "matchRateByIdentifier": {
        "cusip6": 0.04763462483072497,
        "isin": 0,
        "unmatched": 0.952365375169275
      },
      "topActiveBets": [
        {
          "name": "Exxon Mobil Corp.",
          "fundWeight": 0.017255822652047958,
          "proxyWeight": 0,
          "activeWeight": 0.017255822652047958,
          "blbTicker": "XOM"
        },
        {
          "name": "Kroger Co. (The)",
          "fundWeight": 0.01643730525786344,
          "proxyWeight": 0,
          "activeWeight": 0.01643730525786344,
          "blbTicker": null
        },
        {
          "name": "AT&T, Inc.",
          "fundWeight": 0.0162342160404905,
          "proxyWeight": 0,
          "activeWeight": 0.0162342160404905,
          "blbTicker": "T"
        },
        {
          "name": "Adobe, Inc.",
          "fundWeight": 0.015873760316752226,
          "proxyWeight": 0,
          "activeWeight": 0.015873760316752226,
          "blbTicker": "ADBE"
        },
        {
          "name": "Microsoft Corp.",
          "fundWeight": 0.01585808797517411,
          "proxyWeight": 0,
          "activeWeight": 0.01585808797517411,
          "blbTicker": "MSFT"
        },
        {
          "name": "Verizon Communications, Inc.",
          "fundWeight": 0.015754451428542524,
          "proxyWeight": 0,
          "activeWeight": 0.015754451428542524,
          "blbTicker": "VZ"
        },
        {
          "name": "Costco Wholesale Corp.",
          "fundWeight": 0.015590637449530343,
          "proxyWeight": 0,
          "activeWeight": 0.015590637449530343,
          "blbTicker": null
        },
        {
          "name": "Johnson & Johnson",
          "fundWeight": 0.015425390330003702,
          "proxyWeight": 0,
          "activeWeight": 0.015425390330003702,
          "blbTicker": "JNJ"
        },
        {
          "name": "Zoom Communications, Inc.",
          "fundWeight": 0.015329717962705642,
          "proxyWeight": 0,
          "activeWeight": 0.015329717962705642,
          "blbTicker": "ZM"
        },
        {
          "name": "Walmart, Inc.",
          "fundWeight": 0.015310912482090823,
          "proxyWeight": 0,
          "activeWeight": 0.015310912482090823,
          "blbTicker": "WMT"
        }
      ]
    },
    {
      "proxy": "IJR",
      "activeShare": 0.997497393130535,
      "identifierMatchRate": 0.002618086076039432,
      "matchRateByIdentifier": {
        "cusip6": 0.002618086076039432,
        "isin": 0,
        "unmatched": 0.9973819139239606
      },
      "topActiveBets": [
        {
          "name": "United Therapeutics Corp.",
          "fundWeight": 0.018102056507770484,
          "proxyWeight": 0,
          "activeWeight": 0.018102056507770484,
          "blbTicker": "UTHR"
        },
        {
          "name": "Exxon Mobil Corp.",
          "fundWeight": 0.017255822652047958,
          "proxyWeight": 0,
          "activeWeight": 0.017255822652047958,
          "blbTicker": "XOM"
        },
        {
          "name": "Kroger Co. (The)",
          "fundWeight": 0.01643730525786344,
          "proxyWeight": 0,
          "activeWeight": 0.01643730525786344,
          "blbTicker": null
        },
        {
          "name": "AT&T, Inc.",
          "fundWeight": 0.0162342160404905,
          "proxyWeight": 0,
          "activeWeight": 0.0162342160404905,
          "blbTicker": "T"
        },
        {
          "name": "Adobe, Inc.",
          "fundWeight": 0.015873760316752226,
          "proxyWeight": 0,
          "activeWeight": 0.015873760316752226,
          "blbTicker": "ADBE"
        },
        {
          "name": "Microsoft Corp.",
          "fundWeight": 0.01585808797517411,
          "proxyWeight": 0,
          "activeWeight": 0.01585808797517411,
          "blbTicker": "MSFT"
        },
        {
          "name": "Verizon Communications, Inc.",
          "fundWeight": 0.015754451428542524,
          "proxyWeight": 0,
          "activeWeight": 0.015754451428542524,
          "blbTicker": "VZ"
        },
        {
          "name": "Costco Wholesale Corp.",
          "fundWeight": 0.015590637449530343,
          "proxyWeight": 0,
          "activeWeight": 0.015590637449530343,
          "blbTicker": null
        },
        {
          "name": "Johnson & Johnson",
          "fundWeight": 0.015425390330003702,
          "proxyWeight": 0,
          "activeWeight": 0.015425390330003702,
          "blbTicker": "JNJ"
        },
        {
          "name": "Zoom Communications, Inc.",
          "fundWeight": 0.015329717962705642,
          "proxyWeight": 0,
          "activeWeight": 0.015329717962705642,
          "blbTicker": "ZM"
        }
      ]
    },
    {
      "proxy": "IWM",
      "activeShare": 1.0000000000000002,
      "identifierMatchRate": 0,
      "matchRateByIdentifier": {
        "cusip6": 0,
        "isin": 0,
        "unmatched": 1
      },
      "topActiveBets": [
        {
          "name": "United Therapeutics Corp.",
          "fundWeight": 0.018102056507770484,
          "proxyWeight": 0,
          "activeWeight": 0.018102056507770484,
          "blbTicker": "UTHR"
        },
        {
          "name": "Exxon Mobil Corp.",
          "fundWeight": 0.017255822652047958,
          "proxyWeight": 0,
          "activeWeight": 0.017255822652047958,
          "blbTicker": "XOM"
        },
        {
          "name": "Kroger Co. (The)",
          "fundWeight": 0.01643730525786344,
          "proxyWeight": 0,
          "activeWeight": 0.01643730525786344,
          "blbTicker": null
        },
        {
          "name": "AT&T, Inc.",
          "fundWeight": 0.0162342160404905,
          "proxyWeight": 0,
          "activeWeight": 0.0162342160404905,
          "blbTicker": "T"
        },
        {
          "name": "Adobe, Inc.",
          "fundWeight": 0.015873760316752226,
          "proxyWeight": 0,
          "activeWeight": 0.015873760316752226,
          "blbTicker": "ADBE"
        },
        {
          "name": "Microsoft Corp.",
          "fundWeight": 0.01585808797517411,
          "proxyWeight": 0,
          "activeWeight": 0.01585808797517411,
          "blbTicker": "MSFT"
        },
        {
          "name": "Verizon Communications, Inc.",
          "fundWeight": 0.015754451428542524,
          "proxyWeight": 0,
          "activeWeight": 0.015754451428542524,
          "blbTicker": "VZ"
        },
        {
          "name": "Costco Wholesale Corp.",
          "fundWeight": 0.015590637449530343,
          "proxyWeight": 0,
          "activeWeight": 0.015590637449530343,
          "blbTicker": null
        },
        {
          "name": "Johnson & Johnson",
          "fundWeight": 0.015425390330003702,
          "proxyWeight": 0,
          "activeWeight": 0.015425390330003702,
          "blbTicker": "JNJ"
        },
        {
          "name": "Zoom Communications, Inc.",
          "fundWeight": 0.015329717962705642,
          "proxyWeight": 0,
          "activeWeight": 0.015329717962705642,
          "blbTicker": "ZM"
        }
      ]
    }
  ],
  "bestFitProxy": "IVV",
  "bestFitActiveShare": 0.6938786869139576,
  "declaredBenchmarkName": "Russell 1000® Total Return Index",
  "declaredBenchmarkPeriod": "2025-09-30",
  "declaredBenchmarkAccession": "0001193125-26-210899",
  "declaredBenchmarkSourceUrl": "https://www.sec.gov/Archives/edgar/data/1444822/000119312526210899/0001193125-26-210899-index.html",
  "declaredProxy": "IWB",
  "declaredActiveShare": 0.700620326469219,
  "benchmarkMismatch": "mismatch",
  "identifierMatchRate": 0.893186488886186,
  "reviewRequired": false,
  "reviewReason": null,
  "feePerActiveUnitByClass": [
    {
      "classId": "C000115554",
      "value": 0.00850292725698262
    },
    {
      "classId": "C000115553",
      "value": 0.013258801824447476
    },
    {
      "classId": "C000145934",
      "value": 0.007638222790170829
    }
  ],
  "feeDragBaselineExpenseRatio": 0.0001,
  "feeDragByClass": [
    {
      "classId": "C000115554",
      "projections": [
        {
          "horizonYears": 10,
          "fundEndingValue": 153964.62821675555,
          "baselineEndingValue": 162734.39632475894,
          "feeDragVsBaseline": 8769.768108003394
        },
        {
          "horizonYears": 20,
          "fundEndingValue": 237051.0674192376,
          "baselineEndingValue": 264824.8374718372,
          "feeDragVsBaseline": 27773.770052599575
        },
        {
          "horizonYears": 30,
          "fundEndingValue": 364974.79463587975,
          "baselineEndingValue": 430961.10057781835,
          "feeDragVsBaseline": 65986.3059419386
        }
      ]
    },
    {
      "classId": "C000115553",
      "projections": [
        {
          "horizonYears": 10,
          "fundEndingValue": 149167.02751661534,
          "baselineEndingValue": 162734.39632475894,
          "feeDragVsBaseline": 13567.368808143598
        },
        {
          "horizonYears": 20,
          "fundEndingValue": 222508.0209814268,
          "baselineEndingValue": 264824.8374718372,
          "feeDragVsBaseline": 42316.81649041039
        },
        {
          "horizonYears": 30,
          "fundEndingValue": 331908.60088404117,
          "baselineEndingValue": 430961.10057781835,
          "feeDragVsBaseline": 99052.49969377718
        }
      ]
    },
    {
      "classId": "C000145934",
      "projections": [
        {
          "horizonYears": 10,
          "fundEndingValue": 154851.6891412158,
          "baselineEndingValue": 162734.39632475894,
          "feeDragVsBaseline": 7882.707183543156
        },
        {
          "horizonYears": 20,
          "fundEndingValue": 239790.45629887725,
          "baselineEndingValue": 264824.8374718372,
          "feeDragVsBaseline": 25034.381172959926
        },
        {
          "horizonYears": 30,
          "fundEndingValue": 371319.57197824033,
          "baselineEndingValue": 430961.10057781835,
          "feeDragVsBaseline": 59641.528599578014
        }
      ]
    }
  ],
  "licensedReturnMetrics": {
    "provenance": "Computed on licensed market-return history",
    "computedAt": "2026-07-29T14:22:09.616Z",
    "proxy": "IVV",
    "proxyReturnBasis": "total",
    "feeDragByClass": [
      {
        "classId": "C000115554",
        "windows": [
          {
            "horizonYears": 10,
            "windowStart": "2016-07-29",
            "windowEnd": "2026-07-29",
            "proxyHistoryStart": "2000-05-19",
            "annualizedProxyReturn": 0.148774400560296,
            "fundEndingValue": 380117.2356079273,
            "baselineEndingValue": 399852.09772775375,
            "feeDragVsBaseline": 19734.86211982643,
            "missingReason": null
          },
          {
            "horizonYears": 20,
            "windowStart": "2006-07-31",
            "windowEnd": "2026-07-29",
            "proxyHistoryStart": "2000-05-19",
            "annualizedProxyReturn": 0.11192584102435976,
            "fundEndingValue": 750038.9218632289,
            "baselineEndingValue": 832725.9362568682,
            "feeDragVsBaseline": 82687.01439363929,
            "missingReason": null
          },
          {
            "horizonYears": 30,
            "windowStart": null,
            "windowEnd": "2026-07-29",
            "proxyHistoryStart": "2000-05-19",
            "annualizedProxyReturn": null,
            "fundEndingValue": null,
            "baselineEndingValue": null,
            "feeDragVsBaseline": null,
            "missingReason": "proxy history begins 2000 — no full 30-year window"
          }
        ],
        "missingReason": null
      },
      {
        "classId": "C000115553",
        "windows": [
          {
            "horizonYears": 10,
            "windowStart": "2016-07-29",
            "windowEnd": "2026-07-29",
            "proxyHistoryStart": "2000-05-19",
            "annualizedProxyReturn": 0.148774400560296,
            "fundEndingValue": 369284.27973240335,
            "baselineEndingValue": 399852.09772775375,
            "feeDragVsBaseline": 30567.8179953504,
            "missingReason": null
          },
          {
            "horizonYears": 20,
            "windowStart": "2006-07-31",
            "windowEnd": "2026-07-29",
            "proxyHistoryStart": "2000-05-19",
            "annualizedProxyReturn": 0.11192584102435976,
            "fundEndingValue": 706538.6650543006,
            "baselineEndingValue": 832725.9362568682,
            "feeDragVsBaseline": 126187.27120256762,
            "missingReason": null
          },
          {
            "horizonYears": 30,
            "windowStart": null,
            "windowEnd": "2026-07-29",
            "proxyHistoryStart": "2000-05-19",
            "annualizedProxyReturn": null,
            "fundEndingValue": null,
            "baselineEndingValue": null,
            "feeDragVsBaseline": null,
            "missingReason": "proxy history begins 2000 — no full 30-year window"
          }
        ],
        "missingReason": null
      },
      {
        "classId": "C000145934",
        "windows": [
          {
            "horizonYears": 10,
            "windowStart": "2016-07-29",
            "windowEnd": "2026-07-29",
            "proxyHistoryStart": "2000-05-19",
            "annualizedProxyReturn": 0.148774400560296,
            "fundEndingValue": 382117.3086969847,
            "baselineEndingValue": 399852.09772775375,
            "feeDragVsBaseline": 17734.789030769025,
            "missingReason": null
          },
          {
            "horizonYears": 20,
            "windowStart": "2006-07-31",
            "windowEnd": "2026-07-29",
            "proxyHistoryStart": "2000-05-19",
            "annualizedProxyReturn": 0.11192584102435976,
            "fundEndingValue": 758216.5783726792,
            "baselineEndingValue": 832725.9362568682,
            "feeDragVsBaseline": 74509.357884189,
            "missingReason": null
          },
          {
            "horizonYears": 30,
            "windowStart": null,
            "windowEnd": "2026-07-29",
            "proxyHistoryStart": "2000-05-19",
            "annualizedProxyReturn": null,
            "fundEndingValue": null,
            "baselineEndingValue": null,
            "feeDragVsBaseline": null,
            "missingReason": "proxy history begins 2000 — no full 30-year window"
          }
        ],
        "missingReason": null
      }
    ],
    "trackingDifferenceByClass": []
  },
  "filterStats": {
    "total": 145,
    "keptLongCommonEquity": 143,
    "droppedAssetCategory": {
      "DE": 1,
      "STIV": 1
    },
    "droppedPayoffProfile": 0,
    "droppedNonPositivePct": 0
  },
  "publishable": true
}