ETFs
Data as of May 31, 2026 ·How this data is built
Exchange-traded funds registered with the SEC, including unit investment trusts such as SPY. FundVersus publishes pages for 3,025 ETFs. The 200 largest by net assets are below; use search or the screener to find the rest.
Facts from SEC filings. Not investment advice.
| # | Fund | Category | Expense ratio | Net assets | |
|---|---|---|---|---|---|
| 1 | Vanguard Total Stock Market ETFVTI | US Total Market | 0.03% | $1.99T | |
| 2 | Vanguard S&P 500 ETFVOO | US Large-Cap Blend | 0.03% | $1.42T | |
| 3 | iShares Core S&P 500 ETFIVV | US Large-Cap Blend | 0.03% | $720.5B | |
| 4 | SPDR S&P 500 ETF TrustSPY | US Large-Cap Blend | 0.0945% | $651.6B | |
| 5 | Vanguard Total International Stock ETFVXUS | International Developed Markets | 0.05% | $629.1B | |
| 6 | Vanguard Total Bond Market ETFBND | US Aggregate Bond | 0.03% | $386.8B | |
| 7 | Vanguard Growth ETFVUG | US Large-Cap Growth | 0.03% | $317.9B | |
| 8 | Vanguard FTSE Developed Markets ETFVEA | International Developed Markets | 0.03% | $282.1B | |
| 9 | Vanguard Value ETFVTV | US Large-Cap Value | 0.03% | $225.7B | |
| 10 | Vanguard Mid-Cap ETFVO | US Mid-Cap | 0.03% | $198.3B | |
| 11 | iShares Core MSCI EAFE ETFIEFA | International Developed Markets | 0.07% | $180.7B | |
| 12 | Vanguard Small-Cap ETFVB | US Small-Cap | 0.03% | $164.6B | |
| 13 | Vanguard FTSE Emerging Markets ETFVWO | Emerging Markets | 0.06% | $159.9B | |
| 14 | iShares Core MSCI Emerging Markets ETFIEMG | Emerging Markets | 0.09% | $148.6B | |
| 15 | iShares Core U.S. Aggregate Bond ETFAGG | US Aggregate Bond | 0.03% | $141.2B | |
| 16 | Vanguard Information Technology ETFVGT | Technology | 0.09% | $128.8B | |
| 17 | Vanguard Dividend Appreciation ETFVIG | US Dividend | 0.04% | $124.7B | |
| 18 | Vanguard Total International Bond ETFBNDX | International Bond | 0.07% | $118.0B | |
| 19 | State Street SPDR Portfolio S&P 500 ETFSPYM | US Large-Cap Blend | 0.02% | $117.7B | |
| 20 | iShares Russell 1000 Growth ETFIWF | US Large-Cap Growth | 0.18% | $111.8B | |
| 21 | iShares Core S&P Mid-Cap ETFIJH | US Mid-Cap | 0.05% | $106.0B | |
| 22 | Vanguard High Dividend Yield ETFVYM | US Dividend | 0.04% | $94.6B | |
| 23 | iShares Core S&P Small-Cap ETFIJR | US Small-Cap | 0.06% | $92.0B | |
| 24 | Vanguard FTSE All-World ex-US Index Fund ETF SharesVEU | Global Stocks | 0.04% | $90.7B | |
| 25 | Vanguard Total World Stock ETFVT | US Total Market | 0.06% | $89.9B | |
| 26 | Invesco S&P 500 Equal Weight ETFRSP | US Stocks (Other Strategies) | 0.20% | $87.9B | |
| 27 | Schwab U.S. Dividend Equity ETFSCHD | US Dividend | 0.06% | $85.9B | |
| 28 | State Street Technology Select Sector SPDR ETFXLK | Technology | 0.08% | $84.2B | |
| 29 | Vanguard Extended Market ETFVXF | US Total Market | 0.05% | $81.5B | |
| 30 | iShares Core S&P Total U.S. Stock Market ETFITOT | US Total Market | 0.03% | $79.6B | |
| 31 | iShares MSCI EAFE ETFEFA | International Developed Markets | 0.32% | $75.6B | |
| 32 | iShares 0-3 Month Treasury Bond ETFSGOV | Alternatives (Other) | 0.09% | $75.0B | |
| 33 | iShares Russell 2000 ETFIWM | US Small-Cap | 0.19% | $71.9B | |
| 34 | Invesco NASDAQ 100 ETFQQQM | Nasdaq-100 and Large Growth Index | 0.15% | $70.9B | |
| 35 | Vanguard Real Estate ETFVNQ | Real Estate | 0.13% | $69.9B | |
| 36 | iShares Russell 1000 Value ETFIWD | US Large-Cap Value | 0.18% | $69.8B | |
| 37 | Vanguard Short-Term Bond ETFBSV | Bonds (Other) | 0.03% | $69.7B | |
| 38 | Vanguard Intermediate-Term Corporate Bond ETFVCIT | Investment-Grade Corporate | 0.03% | $68.3B | |
| 39 | Vanguard Short-Term Inflation-Protected Securities ETFVTIP | Alternatives (Other) | 0.03% | $65.9B | |
| 40 | Vanguard Large-Cap ETFVV | US Large-Cap Blend | 0.03% | $64.2B | |
| 41 | Schwab U.S. Large-Cap ETFSCHX | US Large-Cap Blend | 0.03% | $64.1B | |
| 42 | Schwab International Equity ETFSCHF | International Developed Markets | 0.03% | $62.9B | |
| 43 | iShares S&P 500 Growth ETFIVW | US Large-Cap Growth | 0.18% | $60.9B | |
| 44 | Vanguard Small-Cap Value ETFVBR | US Small-Cap | 0.05% | $60.6B | |
| 45 | iShares Core MSCI Total International Stock ETFIXUS | International Developed Markets | 0.07% | $56.2B | |
| 46 | Vanguard Intermediate-Term Bond ETFBIV | Bonds (Other) | 0.03% | $51.7B | |
| 47 | Schwab U.S. Large-Cap Growth ETFSCHG | US Large-Cap Growth | 0.04% | $50.5B | |
| 48 | iShares MSCI USA Quality Factor ETFQUAL | US Stocks (Other Strategies) | 0.15% | $50.1B | |
| 49 | State Street SPDR Bloomberg 1-3 Month T-Bill ETFBIL | Alternatives (Other) | 0.14% | $50.0B | |
| 50 | Vanguard Intermediate-Term Treasury ETFVGIT | Intermediate Treasury | 0.03% | $48.9B | |
| 51 | iShares 7-10 Year Treasury Bond ETFIEF | Intermediate Treasury | 0.15% | $48.7B | |
| 52 | Vanguard Short-Term Corporate Bond ETFVCSH | Investment-Grade Corporate | 0.03% | $48.3B | |
| 53 | iShares Russell Mid-Cap ETFIWR | US Mid-Cap | 0.18% | $48.2B | |
| 54 | State Street Financial Select Sector SPDR ETFXLF | Financials | 0.08% | $47.8B | |
| 55 | Vanguard Russell 1000 Growth ETFVONG | US Large-Cap Growth | 0.06% | $47.2B | |
| 56 | iShares S&P 500 Value ETFIVE | US Large-Cap Value | 0.18% | $46.6B | |
| 57 | Vanguard Tax-Exempt Bond ETFVTEB | Municipal Bond | 0.03% | $45.6B | |
| 58 | iShares 20+ Year Treasury Bond ETFTLT | Long-Term Treasury | 0.15% | $45.4B | |
| 59 | Dimensional U.S. Core Equity 2 ETFDFAC | US Total Market | 0.17% | $44.5B | |
| 60 | JPMorgan Equity Premium Income ETFJEPI | Options Income | 0.35% | $44.0B | |
| 61 | State Street Energy Select Sector SPDR ETFXLE | Energy | 0.08% | $43.6B | |
| 62 | iShares National Muni Bond ETFMUB | Municipal Bond | 0.05% | $43.2B | |
| 63 | iShares Russell 1000 ETFIWB | US Large-Cap Blend | 0.15% | $42.8B | |
| 64 | SPDR Dow Jones Industrial Average ETF TrustDIA | US Stocks (Other Strategies) | n/a | $42.7B | |
| 65 | State Street SPDR Portfolio S&P 500 Growth ETFSPYG | US Large-Cap Growth | 0.04% | $41.6B | |
| 66 | iShares U.S. Treasury Bond ETFGOVT | Intermediate Treasury | 0.05% | $41.0B | |
| 67 | VanEck Semiconductor ETFSMH | Semiconductors | 0.35% | $41.0B | |
| 68 | iShares MBS ETFMBB | Mortgage-Backed | 0.04% | $39.8B | |
| 69 | iShares Core Dividend Growth ETFDGRO | US Dividend | 0.08% | $39.6B | |
| 70 | Schwab U.S. Broad Market ETFSCHB | US Total Market | 0.03% | $38.7B | |
| 71 | Vanguard Small-Cap Growth ETFVBK | US Small-Cap | 0.05% | $38.7B | |
| 72 | State Street Health Care Select Sector SPDR ETFXLV | Health Care | 0.08% | $38.6B | |
| 73 | Vanguard FTSE Europe ETFVGK | International Developed Markets | 0.06% | $37.8B | |
| 74 | JPMorgan Ultra-Short Income ETFJPST | Ultrashort and Floating Rate | 0.18% | $37.4B | |
| 75 | iShares Core Universal USD Bond ETFIUSB | US Aggregate Bond | 0.06% | $36.5B | |
| 76 | State Street SPDR Portfolio Developed World ex-US ETFSPDW | Global Stocks | 0.03% | $35.6B | |
| 77 | Vanguard Mid-Cap Value ETFVOE | US Mid-Cap | 0.05% | $34.7B | |
| 78 | JPMorgan Nasdaq Equity Premium Income ETFJEPQ | Options Income | 0.35% | $34.3B | |
| 79 | iShares U.S. Equity Factor Rotation Active ETFDYNF | US Stocks (Other Strategies) | 0.26% | $34.0B | |
| 80 | Vanguard Short-Term Treasury ETFVGSH | Short-Term Treasury | 0.03% | $32.7B | |
| 81 | iShares iBoxx $ Investment Grade Corporate Bond ETFLQD | Investment-Grade Corporate | 0.14% | $32.0B | |
| 82 | State Street SPDR Portfolio S&P 500 Value ETFSPYV | US Large-Cap Value | 0.04% | $31.8B | |
| 83 | iShares MSCI ACWI ETFACWI | US Total Market | 0.32% | $31.3B | |
| 84 | Capital Group Dividend Value ETF Share classCGDV | US Dividend | 0.33% | $30.5B | |
| 85 | iShares MSCI Emerging Markets ETFEEM | Emerging Markets | 0.72% | $30.1B | |
| 86 | iShares MSCI EAFE Value ETFEFV | International Developed Markets | 0.31% | $30.0B | |
| 87 | iShares Core MSCI International Developed Markets ETFIDEV | International Developed Markets | 0.04% | $29.4B | |
| 88 | Vanguard Mid-Cap Growth ETFVOT | US Mid-Cap | 0.05% | $29.2B | |
| 89 | State Street Industrial Select Sector SPDR ETFXLI | Industrials | 0.08% | $28.3B | |
| 90 | VanEck Gold Miners ETFGDX | International Developed Markets | 0.51% | $28.2B | |
| 91 | Vanguard Mega Cap Growth ETFMGK | US Large-Cap Growth | 0.05% | $27.9B | |
| 92 | Janus Henderson AAA CLO ETFJAAA | Investment-Grade Corporate | 0.20% | $26.9B | |
| 93 | iShares Broad USD High Yield Corporate Bond ETFUSHY | High-Yield Bond | 0.08% | $26.2B | |
| 94 | iShares Core S&P U.S. Growth ETFIUSG | US Large-Cap Growth | 0.04% | $26.0B | |
| 95 | Fidelity Total Bond ETFFBND | US Aggregate Bond | 0.36% | $25.1B | |
| 96 | iShares 1-3 Year Treasury Bond ETFSHY | Short-Term Treasury | 0.15% | $24.9B | |
| 97 | Schwab Fundamental U.S. Large Company ETFFNDX | US Large-Cap Blend | 0.25% | $24.5B | |
| 98 | State Street Utilities Select Sector SPDR ETFXLU | Utilities | 0.08% | $24.4B | |
| 99 | SPDR S&P Midcap 400 ETF TrustMDY | US Mid-Cap | n/a | $24.2B | |
| 100 | iShares MSCI USA Momentum Factor ETFMTUM | US Stocks (Other Strategies) | 0.15% | $24.2B | |
| 101 | State Street Communication Services Select Sector SPDR ETFXLC | US Stocks (Other Strategies) | 0.08% | $24.1B | |
| 102 | iShares Core S&P U.S. Value ETFIUSV | US Large-Cap Value | 0.04% | $24.1B | |
| 103 | Schwab Fundamental International Equity ETFFNDF | International Developed Markets | 0.25% | $23.3B | |
| 104 | iShares MSCI USA Min Vol Factor ETFUSMV | US Stocks (Other Strategies) | 0.15% | $22.9B | |
| 105 | iShares Select Dividend ETFDVY | US Dividend | 0.38% | $22.9B | |
| 106 | iShares 1-5 Year Investment Grade Corporate Bond ETFIGSB | Investment-Grade Corporate | 0.04% | $22.6B | |
| 107 | Vanguard S&P 500 Growth Index Fund ETF SharesVOOG | US Large-Cap Growth | 0.07% | $21.9B | |
| 108 | iShares U.S. Technology ETFIYW | Technology | 0.38% | $21.5B | |
| 109 | State Street Consumer Discretionary Select Sector SPDR ETFXLY | Consumer Cyclical | 0.08% | $21.4B | |
| 110 | Schwab U.S. Small-Cap ETFSCHA | US Small-Cap | 0.03% | $20.7B | |
| 111 | State Street SPDR S&P Dividend ETFSDY | US Dividend | 0.35% | $20.7B | |
| 112 | iShares Semiconductor ETFSOXX | Semiconductors | 0.34% | $20.6B | |
| 113 | iShares MSCI Japan ETFEWJ | Single Country | 0.49% | $20.3B | |
| 114 | Vanguard Health Care ETFVHT | Health Care | 0.09% | $20.3B | |
| 115 | iShares 0-1 Year Treasury Bond ETFSHV | Alternatives (Other) | 0.15% | $20.2B | |
| 116 | Capital Group Growth ETF Share classCGGR | US Large-Cap Growth | 0.39% | $20.2B | |
| 117 | Vanguard International High Dividend Yield Index Fund ETF SharesVYMI | International Developed Markets | 0.07% | $20.0B | |
| 118 | Dimensional U.S. Equity Market ETFDFUS | US Total Market | 0.09% | $19.9B | |
| 119 | Dimensional International Value ETFDFIV | International Developed Markets | 0.27% | $19.3B | |
| 120 | iShares Russell Mid-Cap Growth ETFIWP | US Mid-Cap | 0.23% | $18.7B | |
| 121 | Vanguard Russell 1000 Value Index Fund ETF SharesVONV | US Large-Cap Value | 0.06% | $18.6B | |
| 122 | iShares 3-7 Year Treasury Bond ETFIEI | Intermediate Treasury | 0.15% | $18.5B | |
| 123 | iShares 5-10 Year Investment Grade Corporate Bond ETFIGIB | Investment-Grade Corporate | 0.04% | $18.3B | |
| 124 | Pacer US Cash Cows 100 ETFCOWZ | US Stocks (Other Strategies) | 0.49% | $18.2B | |
| 125 | iShares MSCI Emerging Markets ex China ETFEMXC | Emerging Markets | 0.25% | $18.0B | |
| 126 | iShares MSCI South Korea ETFEWY | Emerging Markets | 0.59% | $18.0B | |
| 127 | Fidelity MSCI Information Technology Index ETFFTEC | Technology | 0.08% | $17.9B | |
| 128 | iShares S&P 100 ETFOEF | US Stocks (Other Strategies) | 0.20% | $17.8B | |
| 129 | Invesco S&P 500 Quality ETFSPHQ | US Large-Cap Blend | 0.15% | $17.3B | |
| 130 | iShares Russell 3000 ETFIWV | US Total Market | 0.20% | $17.0B | |
| 131 | iShares Broad USD Investment Grade Corporate Bond ETFUSIG | Investment-Grade Corporate | 0.04% | $17.0B | |
| 132 | Vanguard Mortgage-Backed Securities Index Fund ETF SharesVMBS | Mortgage-Backed | 0.03% | $16.9B | |
| 133 | iShares iBoxx $ High Yield Corporate Bond ETFHYG | High-Yield Bond | 0.49% | $16.7B | |
| 134 | JPMorgan BetaBuilders Japan ETFBBJP | Single Country | 0.19% | $16.6B | |
| 135 | WisdomTree Floating Rate Treasury FundUSFR | Short-Term Treasury | 0.15% | $16.0B | |
| 136 | PIMCO Enhanced Short Maturity Active Exchange-Traded FundMINT | Ultrashort and Floating Rate | 0.36% | $16.0B | |
| 137 | Dimensional International Core Equity Market ETFDFAI | International Developed Markets | 0.18% | $15.9B | |
| 138 | Vanguard Long-Term Treasury ETFVGLT | Long-Term Treasury | 0.03% | $15.8B | |
| 139 | iShares ESG Aware MSCI USA ETFESGU | US Stocks (Other Strategies) | 0.15% | $15.7B | |
| 140 | State Street SPDR Portfolio Emerging Markets ETFSPEM | Emerging Markets | 0.07% | $15.7B | |
| 141 | Schwab U.S. TIPS ETFSCHP | Inflation-Protected (TIPS) | 0.03% | $15.7B | |
| 142 | Schwab U.S. Large-Cap Value ETFSCHV | US Large-Cap Value | 0.04% | $15.6B | |
| 143 | State Street SPDR Portfolio S&P 400 Mid Cap ETFSPMD | US Mid-Cap | 0.03% | $15.6B | |
| 144 | State Street Consumer Staples Select Sector SPDR ETFXLP | Consumer Defensive | 0.08% | $15.5B | |
| 145 | WisdomTree U.S. Quality Dividend Growth FundDGRW | US Dividend | 0.28% | $15.4B | |
| 146 | Vanguard Russell 2000 ETFVTWO | US Small-Cap | 0.06% | $15.2B | |
| 147 | iShares MSCI EAFE Growth ETFEFG | International Developed Markets | 0.34% | $15.2B | |
| 148 | iShares 0-5 Year TIPS Bond ETFSTIP | Inflation-Protected (TIPS) | 0.03% | $15.0B | |
| 149 | iShares TIPS Bond ETFTIP | Inflation-Protected (TIPS) | 0.18% | $14.8B | |
| 150 | iShares Russell Top 200 Growth ETFIWY | US Large-Cap Growth | 0.20% | $14.7B | |
| 151 | Goldman Sachs ActiveBeta U.S. Large Cap Equity ETFGSLC | US Large-Cap Blend | 0.09% | $14.7B | |
| 152 | iShares J.P. Morgan USD Emerging Markets Bond ETFEMB | International Bond | 0.39% | $14.5B | |
| 153 | Dimensional US Marketwide Value ETFDFUV | US Large-Cap Value | 0.21% | $14.4B | |
| 154 | iShares MSCI EAFE Small-Cap ETFSCZ | International Developed Markets | 0.40% | $14.4B | |
| 155 | PGIM Ultra Short Bond ETFPULS | Ultrashort and Floating Rate | 0.15% | $14.2B | |
| 156 | iShares Russell Mid-Cap Value ETFIWS | US Mid-Cap | 0.23% | $14.2B | |
| 157 | Dimensional U.S. Small Cap ETFDFAS | US Small-Cap | 0.26% | $14.0B | |
| 158 | Vanguard Financials ETFVFH | Financials | 0.09% | $13.9B | |
| 159 | Vanguard FTSE All-World ex-US Small-Cap ETFVSS | Global Stocks | 0.06% | $13.9B | |
| 160 | State Street SPDR Portfolio S&P 600 Small Cap ETFSPSM | US Small-Cap | 0.03% | $13.9B | |
| 161 | Dimensional U.S. Targeted Value ETFDFAT | US Large-Cap Value | 0.28% | $13.7B | |
| 162 | Dimensional International Core Equity 2 ETFDFIC | International Developed Markets | 0.22% | $13.6B | |
| 163 | Schwab U.S. Mid-Cap ETFSCHM | US Mid-Cap | 0.03% | $13.6B | |
| 164 | iShares Core High Dividend ETFHDV | US Dividend | 0.08% | $13.6B | |
| 165 | iShares U.S. Aerospace & Defense ETFITA | Industrials | 0.38% | $13.5B | |
| 166 | Invesco S&P 500 Momentum ETFSPMO | US Large-Cap Blend | 0.13% | $13.4B | |
| 167 | iShares Preferred and Income Securities ETFPFF | Bonds (Other) | 0.45% | $13.3B | |
| 168 | iShares Core International Aggregate Bond ETFIAGG | International Bond | 0.07% | $13.1B | |
| 169 | Vanguard FTSE Pacific ETFVPL | International Developed Markets | 0.07% | $13.1B | |
| 170 | Schwab Intermediate-Term U.S. Treasury ETFSCHR | Intermediate Treasury | 0.03% | $12.9B | |
| 171 | iShares MSCI Intl Quality Factor ETFIQLT | International Developed Markets | 0.30% | $12.9B | |
| 172 | iShares 10-20 Year Treasury Bond ETFTLH | Long-Term Treasury | 0.15% | $12.9B | |
| 173 | Schwab Emerging Markets Equity ETFSCHE | Emerging Markets | 0.06% | $12.5B | |
| 174 | iShares Russell 2000 Value ETFIWN | US Small-Cap | 0.24% | $12.5B | |
| 175 | Schwab Short-Term U.S. Treasury ETFSCHO | Short-Term Treasury | 0.03% | $12.5B | |
| 176 | Global X U.S. Infrastructure Development ETFPAVE | Thematic | 0.47% | $12.4B | |
| 177 | iShares Russell 2000 Growth ETFIWO | US Small-Cap | 0.24% | $12.2B | |
| 178 | iShares MSCI USA Value Factor ETFVLUE | US Large-Cap Value | 0.15% | $12.0B | |
| 179 | ProShares S&P 500 Dividend Aristocrats ETFNOBL | US Dividend | 0.35% | $12.0B | |
| 180 | Vanguard Mega Cap Value Index Fund ETF SharesMGV | US Large-Cap Value | 0.05% | $12.0B | |
| 181 | Alerian Mlp ETFAMLP | US Stocks (Other Strategies) | 1.01% | $11.8B | |
| 182 | State Street SPDR Portfolio S&P 1500 Composite Stock Market ETFSPTM | US Total Market | 0.03% | $11.7B | |
| 183 | iShares ESG Aware MSCI EAFE ETFESGD | International Developed Markets | 0.20% | $11.7B | |
| 184 | Vanguard ESG U.S. Stock ETFESGV | US Total Market | 0.09% | $11.7B | |
| 185 | VanEck Morningstar Wide Moat ETFMOAT | US Stocks (Other Strategies) | 0.46% | $11.6B | |
| 186 | Dimensional World ex U.S. Core Equity 2 ETFDFAX | Global Stocks | 0.28% | $11.5B | |
| 187 | Dimensional US Core Equity Market ETFDFAU | US Total Market | 0.12% | $11.5B | |
| 188 | Vanguard Energy ETFVDE | Energy | 0.09% | $11.4B | |
| 189 | Dimensional US High Profitability ETFDUHP | US Stocks (Other Strategies) | 0.20% | $11.3B | |
| 190 | iShares MSCI ACWI ex U.S. ETFACWX | Global Stocks | 0.32% | $11.1B | |
| 191 | Vanguard Utilities ETFVPU | Utilities | 0.09% | $11.0B | |
| 192 | iShares Short-Term National Muni Bond ETFSUB | Municipal Bond | 0.07% | $10.9B | |
| 193 | Invesco S&P 500 Top 50 ETFXLG | US Large-Cap Blend | 0.20% | $10.7B | |
| 194 | State Street SPDR Portfolio Intermediate Term Corporate Bond ETFSPIB | Investment-Grade Corporate | 0.04% | $10.7B | |
| 195 | JPMorgan BetaBuilders Canada ETFBBCA | Single Country | 0.19% | $10.7B | |
| 196 | JPMorgan International Research Enhanced Equity ETFJIRE | International Developed Markets | 0.24% | $10.6B | |
| 197 | Vanguard Russell 1000 Index Fund ETF SharesVONE | US Large-Cap Blend | 0.06% | $10.6B | |
| 198 | JPMorgan Core Plus Bond ETFJCPB | US Aggregate Bond | 0.37% | $10.5B | |
| 199 | State Street SPDR Portfolio Long Term Treasury ETFSPTL | Long-Term Treasury | 0.03% | $10.5B | |
| 200 | iShares Expanded Tech-Software Sector ETFIGV | Technology | 0.39% | $10.4B |