ACWI vs. RAFE ETF Comparison

Comparison of iShares MSCI ACWI Index Fund (ACWI) to PIMCO RAFI ESG U.S. ETF (RAFE)

ACWI

iShares MSCI ACWI Index Fund

ACWI Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Country World Index. The fund invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index is a free float-adjusted market capitalization index designed to measure the combined equity market performance of developed and emerging markets countries. Components primarily include consumer discretionary, consumer staples, energy, financial, industrials and information technology companies. It is non-diversified.

Grade (RS Rating)

Last Trade

$118.64

Average Daily Volume

1,817,856

Number of Holdings ^*

616

* may have additional holdings in another (foreign) market

RAFE

PIMCO RAFI ESG U.S. ETF

RAFE Description

The investment seeks to provide total return that closely corresponds, before fees and expenses, to the total return of the RAFI ESG US Index. The fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its total assets in the component securities of the RAFI ESG US Index. The underlying index is constructed by RAFI Indices, LLC using a rules-based approach within publicly traded U.S. equities to create an integrated ESG strategy which overweights companies that rate well across various ESG themes and excludes companies with a major involvement in industries such as tobacco, gaming, weapons and fossil fuels.

Grade (RS Rating)

Last Trade

$37.06

Average Daily Volume

2,708

Number of Holdings ^*

237

* may have additional holdings in another (foreign) market

Performance

Period	ACWI	RAFE
30 Days	-1.13%	-1.25%
60 Days	1.74%	2.10%
90 Days	3.34%	4.55%
12 Months	25.13%	22.98%

208 Overlapping Holdings

	Symbol	Grade	Weight in ACWI	Weight in RAFE	Overlap
	A	D	0.05%	0.13%	0.05%
	AAPL	C	4.15%	5.06%	4.15%
	ABBV	F	0.44%	1.26%	0.44%
	ABT	B	0.25%	0.93%	0.25%
	ACN	C	0.28%	0.78%	0.28%
	ADBE	F	0.28%	0.5%	0.28%
	ADI	D	0.14%	0.31%	0.14%
	ADM	D	0.03%	0.26%	0.03%
	ADP	B	0.16%	0.37%	0.16%
	AGCO	D	0.01%	0.03%	0.01%
	AKAM	F	0.02%	0.06%	0.02%
	ALL	A	0.06%	0.46%	0.06%
	AMAT	F	0.2%	0.71%	0.2%
	AMD	F	0.3%	0.05%	0.05%
	AMGN	D	0.22%	0.98%	0.22%
	AMP	A	0.07%	0.2%	0.07%
	AMT	D	0.12%	0.15%	0.12%
	ANET	C	0.13%	0.02%	0.02%
	APD	A	0.09%	0.32%	0.09%
	AVB	A	0.04%	0.13%	0.04%
	AVGO	C	1.02%	1.07%	1.02%
	AWK	C	0.03%	0.1%	0.03%
	AXP	A	0.21%	0.51%	0.21%
	BAC	A	0.4%	0.68%	0.4%
	BALL	D	0.02%	0.13%	0.02%
	BAX	F	0.02%	0.15%	0.02%
	BBY	C	0.02%	0.4%	0.02%
	BDX	F	0.09%	0.27%	0.09%
	BIIB	F	0.03%	0.24%	0.03%
	BK	A	0.07%	0.16%	0.07%
	BMY	B	0.14%	1.6%	0.14%
	BSX	B	0.17%	0.09%	0.09%
	C	A	0.16%	2.61%	0.16%
	CAG	F	0.02%	0.06%	0.02%
	CAH	B	0.04%	0.24%	0.04%
	CARR	D	0.08%	0.3%	0.08%
	CBRE	B	0.05%	0.3%	0.05%
	CCI	D	0.06%	0.21%	0.06%
	CDNS	B	0.1%	0.1%	0.1%
	CDW	F	0.03%	0.09%	0.03%
	CF	A	0.02%	0.12%	0.02%
	CHD	A	0.03%	0.05%	0.03%
	CI	D	0.11%	1.09%	0.11%
	CL	D	0.09%	0.29%	0.09%
	CMCSA	B	0.22%	1.28%	0.22%
	CMI	A	0.06%	0.16%	0.06%
	CNC	F	0.04%	0.11%	0.04%
	COR	B	0.05%	0.11%	0.05%
	CPB	D	0.01%	0.04%	0.01%
	CRM	A	0.39%	0.49%	0.39%
	CSCO	B	0.29%	2.39%	0.29%
	CTSH	B	0.05%	0.15%	0.05%
	CTVA	D	0.05%	0.04%	0.04%
	CVS	F	0.09%	0.32%	0.09%
	DD	D	0.04%	0.48%	0.04%
	DE	D	0.13%	0.43%	0.13%
	DELL	C	0.05%	0.11%	0.05%
	DG	F	0.02%	0.12%	0.02%
	DGX	A	0.02%	0.05%	0.02%
	DHR	D	0.21%	0.38%	0.21%
	DIS	A	0.23%	0.85%	0.23%
	DOV	A	0.04%	0.05%	0.04%
	DOW	F	0.04%	0.42%	0.04%
	DVA	C	0.01%	0.13%	0.01%
	EA	A	0.05%	0.23%	0.05%
	EBAY	D	0.04%	0.33%	0.04%
	ECL	D	0.08%	0.21%	0.08%
	EIX	C	0.04%	0.19%	0.04%
	EL	F	0.02%	0.09%	0.02%
	ELV	F	0.12%	0.76%	0.12%
	EQH	B	0.02%	0.05%	0.02%
	EQIX	B	0.11%	0.19%	0.11%
	EQR	C	0.03%	0.13%	0.03%
	ESS	A	0.02%	0.04%	0.02%
	EW	C	0.05%	0.12%	0.05%
	F	C	0.05%	0.92%	0.05%
	FAST	B	0.06%	0.1%	0.06%
	FDX	A	0.08%	0.35%	0.08%
	FI	A	0.16%	0.22%	0.16%
	FIS	B	0.06%	0.29%	0.06%
	FITB	A	0.04%	0.1%	0.04%
	FOXA	A	0.01%	0.15%	0.01%
	GEHC	D	0.05%	0.22%	0.05%
	GEN	B	0.02%	0.03%	0.02%
	GILD	B	0.15%	0.87%	0.15%
	GIS	D	0.05%	0.26%	0.05%
	GM	A	0.08%	1.79%	0.08%
	GPC	D	0.02%	0.06%	0.02%
	GS	A	0.24%	0.8%	0.24%
	GWW	A	0.07%	0.15%	0.07%
	HCA	D	0.09%	0.08%	0.08%
	HD	A	0.51%	1.4%	0.51%
	HIG	C	0.05%	0.21%	0.05%
	HLT	A	0.08%	0.12%	0.08%
	HOLX	D	0.02%	0.08%	0.02%
	HPE	B	0.04%	0.56%	0.04%
	HPQ	B	0.04%	0.58%	0.04%
	HRL	D	0.01%	0.01%	0.01%
	HSIC	D	0.01%	0.04%	0.01%
	HST	D	0.02%	0.09%	0.02%
	HSY	F	0.03%	0.05%	0.03%
	HUM	F	0.04%	0.33%	0.04%
	IBM	D	0.25%	1.45%	0.25%
	IFF	D	0.03%	0.1%	0.03%
	ILMN	C	0.03%	0.07%	0.03%
	INTC	C	0.14%	2.33%	0.14%
	IP	A	0.02%	0.34%	0.02%
	IRM	D	0.04%	0.15%	0.04%
	ISRG	A	0.24%	0.11%	0.11%
	ITW	B	0.1%	0.25%	0.1%
	JCI	A	0.07%	0.45%	0.07%
	JNJ	D	0.47%	2.55%	0.47%
	JNPR	D	0.02%	0.16%	0.02%
	JPM	A	0.86%	3.18%	0.86%
	K	B	0.03%	0.14%	0.03%
	KDP	D	0.05%	0.11%	0.05%
	KEYS	C	0.04%	0.09%	0.04%
	KHC	F	0.04%	0.17%	0.04%
	KIM	A	0.02%	0.05%	0.02%
	KLAC	F	0.12%	0.18%	0.12%
	KMB	C	0.06%	0.23%	0.06%
	KO	D	0.33%	0.78%	0.33%
	LH	B	0.03%	0.15%	0.03%
	LIN	D	0.28%	0.91%	0.28%
	LKQ	D	0.01%	0.07%	0.01%
	LLY	F	0.84%	0.6%	0.6%
	LOW	A	0.19%	0.95%	0.19%
	LRCX	F	0.13%	0.43%	0.13%
	MA	A	0.55%	0.63%	0.55%
	MAA	A	0.02%	0.06%	0.02%
	MAR	A	0.09%	0.23%	0.09%
	MCHP	F	0.05%	0.05%	0.05%
	MCK	A	0.1%	0.34%	0.1%
	MCO	C	0.1%	0.13%	0.1%
	MDLZ	F	0.11%	0.24%	0.11%
	MET	A	0.06%	0.55%	0.06%
	META	C	1.62%	0.98%	0.98%
	MMM	D	0.09%	0.88%	0.09%
	MOS	D	0.01%	0.17%	0.01%
	MRK	F	0.33%	1.39%	0.33%
	MRVL	B	0.1%	0.11%	0.1%
	MSFT	D	3.75%	4.52%	3.75%
	MSI	A	0.11%	0.17%	0.11%
	MU	D	0.16%	0.84%	0.16%
	NDAQ	A	0.04%	0.05%	0.04%
	NEM	F	0.06%	0.36%	0.06%
	NFLX	A	0.43%	0.06%	0.06%
	NKE	D	0.12%	0.4%	0.12%
	NTAP	D	0.03%	0.22%	0.03%
	NTRS	A	0.03%	0.06%	0.03%
	NVDA	B	4.57%	0.88%	0.88%
	NWSA	B	0.01%	0.06%	0.01%
	O	D	0.06%	0.01%	0.01%
	OC	A	0.02%	0.17%	0.02%
	OMC	C	0.03%	0.12%	0.03%
	ON	F	0.04%	0.08%	0.04%
	ORCL	A	0.39%	1.33%	0.39%
	ORLY	A	0.09%	0.04%	0.04%
	OTIS	D	0.05%	0.09%	0.05%
	PARA	C	0.01%	0.18%	0.01%
	PAYX	B	0.06%	0.09%	0.06%
	PEP	F	0.28%	0.24%	0.24%
	PFE	F	0.19%	1.92%	0.19%
	PFG	C	0.03%	0.16%	0.03%
	PG	C	0.5%	2.18%	0.5%
	PGR	B	0.19%	0.2%	0.19%
	PKG	B	0.03%	0.12%	0.03%
	PLD	D	0.13%	0.06%	0.06%
	PPG	F	0.04%	0.17%	0.04%
	PRU	A	0.06%	0.4%	0.06%
	PYPL	A	0.1%	0.51%	0.1%
	QCOM	F	0.24%	1.29%	0.24%
	ROK	A	0.04%	0.04%	0.04%
	RSG	B	0.06%	0.03%	0.03%
	SHW	B	0.12%	0.13%	0.12%
	SJM	F	0.01%	0.07%	0.01%
	SNPS	C	0.11%	0.07%	0.07%
	SOLV	C	0.01%	0.07%	0.01%
	SPGI	C	0.2%	0.08%	0.08%
	STT	A	0.04%	0.21%	0.04%
	SWK	F	0.02%	0.09%	0.02%
	SYK	A	0.16%	0.09%	0.09%
	SYY	D	0.05%	0.2%	0.05%
	T	A	0.2%	1.86%	0.2%
	TER	F	0.02%	0.08%	0.02%
	TGT	D	0.09%	0.91%	0.09%
	TJX	A	0.17%	0.38%	0.17%
	TMUS	A	0.16%	0.37%	0.16%
	TROW	A	0.03%	0.09%	0.03%
	TSCO	D	0.04%	0.09%	0.04%
	TSLA	B	1.16%	0.39%	0.39%
	TSN	A	0.02%	0.05%	0.02%
	TXN	C	0.25%	0.7%	0.25%
	UNH	B	0.71%	0.5%	0.5%
	UPS	C	0.12%	0.42%	0.12%
	V	A	0.61%	0.86%	0.61%
	VTR	C	0.03%	0.18%	0.03%
	VTRS	A	0.02%	0.07%	0.02%
	VZ	C	0.21%	1.29%	0.21%
	WAB	B	0.04%	0.07%	0.04%
	WAT	B	0.03%	0.09%	0.03%
	WBA	F	0.01%	0.08%	0.01%
	WDC	F	0.03%	0.3%	0.03%
	WELL	A	0.1%	0.26%	0.1%
	WFC	A	0.31%	2.2%	0.31%
	WM	B	0.11%	0.35%	0.11%
	WY	D	0.03%	0.21%	0.03%
	ZTS	D	0.1%	0.11%	0.1%

ACWI Overweight 408 Positions Relative to RAFE

	Symbol	Grade	Weight
	AMZN	B	2.45%
	GOOGL	B	1.32%
	GOOG	B	1.14%
	BRK.A	A	0.77%
	XOM	B	0.68%
	COST	B	0.53%
	WMT	A	0.47%
	CVX	A	0.34%
	MCD	D	0.27%
	GE	D	0.26%
	NOW	B	0.26%
	TMO	D	0.26%
	INTU	A	0.24%
	CAT	B	0.24%
	PM	A	0.24%
	TM	F	0.23%
	BABA	D	0.23%
	RTX	D	0.21%
	BKNG	A	0.21%
	NEE	C	0.2%
	MS	A	0.2%
	UNP	D	0.19%
	BLK	A	0.19%
	HON	A	0.18%
	ETN	A	0.18%
	VRTX	C	0.17%
	UBER	C	0.17%
	BX	A	0.16%
	MUFG	A	0.16%
	PANW	B	0.16%
	COP	C	0.16%
	PLTR	A	0.15%
	LMT	D	0.15%
	CB	C	0.14%
	MMC	C	0.14%
	BA	F	0.14%
	SBUX	A	0.14%
	SCHW	A	0.14%
	MDT	D	0.14%
	SONY	D	0.14%
	GEV	A	0.12%
	MO	A	0.12%
	TT	A	0.12%
	SO	C	0.12%
	KKR	A	0.12%
	CTAS	B	0.11%
	MELI	D	0.11%
	DUK	C	0.11%
	SMFG	A	0.11%
	HDB	C	0.11%
	ICE	D	0.11%
	APH	B	0.11%
	REGN	F	0.11%
	PH	A	0.11%
	CEG	D	0.1%
	AON	A	0.1%
	TDG	D	0.1%
	CRWD	B	0.1%
	EOG	A	0.1%
	USB	B	0.1%
	CME	A	0.1%
	PNC	A	0.1%
	CMG	B	0.1%
	IBN	C	0.1%
	WMB	A	0.09%
	COF	A	0.09%
	CRH	B	0.09%
	GD	D	0.09%
	CSX	B	0.09%
	EMR	A	0.09%
	NOC	D	0.09%
	SRE	A	0.08%
	SLB	C	0.08%
	TFC	A	0.08%
	NSC	B	0.08%
	OKE	A	0.08%
	ROP	C	0.08%
	APO	A	0.08%
	AJG	A	0.08%
	ADSK	B	0.08%
	FCX	F	0.08%
	COIN	A	0.07%
	MFG	A	0.07%
	DASH	B	0.07%
	PSA	C	0.07%
	WDAY	B	0.07%
	PSX	C	0.07%
	AZO	C	0.07%
	MPC	D	0.07%
	KMI	A	0.07%
	RCL	A	0.07%
	TTD	B	0.07%
	FICO	A	0.07%
	TRV	A	0.07%
	URI	B	0.07%
	ABNB	C	0.07%
	SPG	A	0.07%
	FTNT	A	0.07%
	PCAR	B	0.07%
	DLR	A	0.07%
	APP	A	0.07%
	AFL	C	0.07%
	NXPI	F	0.07%
	AXON	A	0.06%
	ODFL	B	0.06%
	DFS	A	0.06%
	FLUT	A	0.06%
	HWM	A	0.06%
	KVUE	A	0.06%
	VLO	C	0.06%
	VRT	A	0.06%
	TEL	C	0.06%
	MSCI	A	0.06%
	ROST	D	0.06%
	LNG	A	0.06%
	PWR	A	0.06%
	D	C	0.06%
	CPRT	A	0.06%
	WCN	A	0.06%
	LHX	B	0.06%
	AEP	C	0.06%
	DHI	D	0.06%
	VST	A	0.06%
	AIG	B	0.06%
	LULU	C	0.05%
	IDXX	F	0.05%
	SNOW	C	0.05%
	XEL	A	0.05%
	CHTR	B	0.05%
	RMD	C	0.05%
	MPWR	F	0.05%
	TEAM	A	0.05%
	EXC	C	0.05%
	VMC	B	0.05%
	STZ	D	0.05%
	MLM	B	0.05%
	NUE	D	0.05%
	TRGP	A	0.05%
	YUM	D	0.05%
	HES	B	0.05%
	ACGL	C	0.05%
	GLW	B	0.05%
	MNST	D	0.05%
	IQV	F	0.05%
	KR	B	0.05%
	SQ	A	0.05%
	HMC	F	0.05%
	VRSK	B	0.05%
	PCG	A	0.05%
	PEG	C	0.05%
	IT	B	0.05%
	FERG	D	0.05%
	IR	A	0.05%
	LEN	D	0.05%
	BKR	A	0.05%
	MSTR	B	0.05%
	AME	A	0.05%
	DXCM	C	0.04%
	BR	A	0.04%
	SW	A	0.04%
	PHM	D	0.04%
	TTWO	A	0.04%
	GPN	B	0.04%
	WEC	A	0.04%
	XYL	D	0.04%
	ANSS	B	0.04%
	NVR	D	0.04%
	ETR	A	0.04%
	CSGP	F	0.04%
	HUBS	A	0.04%
	VICI	C	0.04%
	ARES	B	0.04%
	ED	D	0.04%
	RJF	A	0.04%
	OXY	F	0.04%
	WTW	B	0.04%
	GRMN	B	0.04%
	EFX	F	0.04%
	DDOG	B	0.04%
	FANG	D	0.04%
	ALNY	D	0.04%
	TCOM	B	0.04%
	MTB	A	0.04%
	VEEV	C	0.04%
	EXR	C	0.04%
	ZBRA	B	0.03%
	LYV	A	0.03%
	SNA	A	0.03%
	LII	B	0.03%
	CNP	A	0.03%
	DRI	B	0.03%
	STX	D	0.03%
	MDB	C	0.03%
	COO	D	0.03%
	WBD	B	0.03%
	TRU	D	0.03%
	NRG	B	0.03%
	ATO	A	0.03%
	STE	D	0.03%
	MKL	A	0.03%
	ZBH	C	0.03%
	CFG	A	0.03%
	INVH	D	0.03%
	ES	C	0.03%
	BLDR	D	0.03%
	LYB	F	0.03%
	CSL	B	0.03%
	TDY	B	0.03%
	FCNCA	A	0.03%
	LPLA	A	0.03%
	PTC	B	0.03%
	FE	C	0.03%
	STLD	B	0.03%
	CINF	A	0.03%
	WST	C	0.03%
	EME	B	0.03%
	EXPE	A	0.03%
	RF	A	0.03%
	EQT	A	0.03%
	DTE	C	0.03%
	CCL	A	0.03%
	DVN	F	0.03%
	PPL	A	0.03%
	HUBB	B	0.03%
	RBLX	B	0.03%
	BAH	D	0.03%
	CPAY	A	0.03%
	SBAC	D	0.03%
	GDDY	A	0.03%
	BIDU	F	0.03%
	HAL	C	0.03%
	FTV	D	0.03%
	VLTO	D	0.03%
	LDOS	C	0.03%
	TYL	B	0.03%
	HBAN	A	0.03%
	DECK	A	0.03%
	AEE	A	0.03%
	BRO	B	0.03%
	SYF	A	0.03%
	TPL	A	0.03%
	NET	C	0.03%
	MTD	F	0.03%
	DKS	D	0.02%
	BXP	D	0.02%
	AMH	C	0.02%
	BG	D	0.02%
	ELS	B	0.02%
	Z	A	0.02%
	NBIX	D	0.02%
	CPT	D	0.02%
	REG	A	0.02%
	SNAP	D	0.02%
	BMRN	F	0.02%
	OKTA	D	0.02%
	UHS	D	0.02%
	HEI	A	0.02%
	CHRW	A	0.02%
	SMCI	F	0.02%
	UDR	C	0.02%
	DLTR	F	0.02%
	NDSN	B	0.02%
	INCY	B	0.02%
	TOST	A	0.02%
	WPC	D	0.02%
	ALLE	D	0.02%
	JKHY	D	0.02%
	EPAM	B	0.02%
	DT	C	0.02%
	CHT	D	0.02%
	SWKS	F	0.02%
	POOL	D	0.02%
	EVRG	A	0.02%
	FFIV	B	0.02%
	ROL	A	0.02%
	LNT	A	0.02%
	GGG	A	0.02%
	ACM	B	0.02%
	NI	A	0.02%
	LI	F	0.02%
	HEI	A	0.02%
	AVTR	F	0.02%
	MRNA	F	0.02%
	TW	B	0.02%
	AMCR	C	0.02%
	TWLO	A	0.02%
	DOC	D	0.02%
	ALGN	D	0.02%
	GLPI	D	0.02%
	APTV	F	0.02%
	RVTY	D	0.02%
	HOOD	A	0.02%
	ENTG	F	0.02%
	EG	D	0.02%
	SSNC	D	0.02%
	DPZ	C	0.02%
	JBHT	B	0.02%
	FWONK	B	0.02%
	VRSN	D	0.02%
	DOCU	A	0.02%
	FNF	C	0.02%
	JBL	C	0.02%
	SUI	D	0.02%
	UMC	F	0.02%
	BURL	C	0.02%
	KEY	A	0.02%
	WSM	F	0.02%
	TXT	D	0.02%
	DKNG	B	0.02%
	RPM	A	0.02%
	PINS	F	0.02%
	LVS	C	0.02%
	PSTG	F	0.02%
	EXPD	D	0.02%
	UTHR	B	0.02%
	MRO	A	0.02%
	MANH	D	0.02%
	AVY	D	0.02%
	J	D	0.02%
	L	A	0.02%
	NMR	B	0.02%
	MAS	D	0.02%
	WSO	A	0.02%
	CTRA	A	0.02%
	YUMC	B	0.02%
	WRB	A	0.02%
	RS	B	0.02%
	IEX	B	0.02%
	ULTA	D	0.02%
	ZS	B	0.02%
	TRMB	A	0.02%
	CMS	C	0.02%
	EXE	A	0.02%
	MKC	D	0.02%
	PNR	A	0.02%
	PODD	A	0.02%
	ARE	D	0.02%
	MOH	F	0.02%
	ZM	B	0.02%
	FDS	A	0.02%
	FSLR	F	0.02%
	CLX	A	0.02%
	CBOE	D	0.02%
	MBAVU	A	0.01%
	CELH	F	0.01%
	WLK	F	0.01%
	LUV	A	0.01%
	BILI	C	0.01%
	UHAL	D	0.01%
	FOX	A	0.01%
	DINO	D	0.01%
	H	B	0.01%
	BEN	C	0.01%
	BBWI	C	0.01%
	ACI	C	0.01%
	AZPN	A	0.01%
	QRVO	F	0.01%
	RIVN	F	0.01%
	MTCH	F	0.01%
	NIO	F	0.01%
	XPEV	C	0.01%
	APA	F	0.01%
	HII	F	0.01%
	BSY	D	0.01%
	BIO	C	0.01%
	TME	F	0.01%
	TTC	D	0.01%
	WIT	B	0.01%
	WYNN	D	0.01%
	MGM	D	0.01%
	CE	F	0.01%
	ENPH	F	0.01%
	WTRG	C	0.01%
	NLY	C	0.01%
	RPRX	F	0.01%
	FBIN	D	0.01%
	DAL	A	0.01%
	ROKU	D	0.01%
	TFX	F	0.01%
	AES	F	0.01%
	CNH	D	0.01%
	KNX	B	0.01%
	EXAS	F	0.01%
	AOS	F	0.01%
	SEIC	A	0.01%
	CHRD	F	0.01%
	BGNE	D	0.01%
	CRL	D	0.01%
	ALLY	C	0.01%
	IOT	B	0.01%
	AFG	A	0.01%
	CTLT	C	0.01%
	MKTX	C	0.01%
	ERIE	F	0.01%
	DAY	B	0.01%
	TAP	A	0.01%
	PAYC	B	0.01%
	OVV	C	0.01%
	ALB	C	0.01%
	CCK	D	0.01%
	EMN	C	0.01%
	LW	C	0.01%
	AIZ	A	0.01%
	IPG	F	0.01%
	TECH	D	0.01%
	CG	B	0.01%
	KMX	B	0.01%
	MNSO	D	0.0%

ACWI Underweight 29 Positions Relative to RAFE

	Symbol	Grade	Weight
	LUMN	C	-0.22%
	JLL	C	-0.18%
	WHR	A	-0.17%
	VFC	B	-0.16%
	ARW	D	-0.12%
	KSS	F	-0.12%
	TPR	A	-0.11%
	PVH	C	-0.09%
	GAP	C	-0.09%
	DOX	D	-0.08%
	AVT	C	-0.08%
	LNC	A	-0.07%
	LEA	F	-0.07%
	USFD	B	-0.07%
	HUN	F	-0.06%
	DXC	C	-0.06%
	KD	A	-0.05%
	GT	C	-0.05%
	NWL	B	-0.04%
	FLEX	B	-0.04%
	HAS	D	-0.04%
	XRX	F	-0.04%
	MHK	D	-0.04%
	FL	F	-0.04%
	WU	F	-0.03%
	AAP	D	-0.03%
	OGN	F	-0.03%
	MAN	F	-0.02%
	M	C	-0.02%

ACWI: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Utilities - Regulated Electric Business Services Diagnostics & Research Semiconductors Asset Management Oil & Gas E&P Specialty Retail Capital Markets Software - Infrastructure Biotechnology Internet Content & Information Aerospace & Defense Banks - Regional - US REIT - Residential Specialty Chemicals Auto Manufacturers Drug Manufacturers - Major Insurance - Property & Casualty

Keywords: S&P 500 Nasdaq 100 Computing Natural Gas Insurance Electricity Dow Jones Component Electronics Telecommunications Bank Chemical Aerospace Real Estate Investment Trust Banking Medicine Semiconductor Cloud Computing Transport Mining IBD 50

RAFE: Top Represented Industries & Keywords

Industries: Semiconductors Drug Manufacturers - Major Information Technology Services Packaged Foods Diagnostics & Research Health Care Plans Household & Personal Products Software - Application Specialty Retail Asset Management Business Services Credit Services Diversified Industrials Specialty Chemicals Telecom Services Banks - Global Chemicals Communication Equipment Insurance - Life Medical Devices

Keywords: S&P 500 Nasdaq 100 Dow Jones Component Computing Insurance Semiconductor Medicine Telecommunications Integrated Circuits Mobile Devices Real Estate Investment Trust Cloud Computing Department Store Information And Communications Technology Bank Disease Electronics Pharmaceutical Products Aerospace Banking