The 20% Anomaly According to its principal investment strategy, VLUE tracks the MSCI USA Enhanced Value Index. Looking closer under the hood, this index is built to isolate value stocks from the MSCI USA Index. Instead of hunting for value across the entire market, the algorithm enforces a more targeted, two-pronged mandate: Sector-Neutral Mandate: To mitigate concentration risk in traditional value sectors like utilities or financials, the prospectus notes that component weights are normalized so that sect ...