DTD vs. FNCL ETF Comparison

Comparison of WisdomTree Total Dividend Fund (DTD) to Fidelity MSCI Financials Index ETF (FNCL)

DTD

WisdomTree Total Dividend Fund

DTD Description

The investment seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Dividend Index. The fund invests at least 95% of its total assets (exclusive of collateral held from securities lending) in component securities of the index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. The WisdomTree Dividend Index is a fundamentally-weighted index that defines the dividend-paying portion of the U.S. stock market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$79.73

Average Daily Volume

21,209

Number of Holdings ^*

811

* may have additional holdings in another (foreign) market

FNCL

Fidelity MSCI Financials Index ETF

FNCL Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Financials Index. Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Financials Index, which represents the performance of the financial sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Financials Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$72.14

Average Daily Volume

112,716

Number of Holdings ^*

380

* may have additional holdings in another (foreign) market

Performance

Period	DTD	FNCL
30 Days	1.98%	7.55%
60 Days	4.63%	11.91%
90 Days	6.18%	14.78%
12 Months	30.71%	47.47%

197 Overlapping Holdings

Symbol	Grade	Weight in DTD	Weight in FNCL	Overlap
ACT	C	0.03%	0.02%	0.02%
AFG	A	0.03%	0.13%	0.03%
AFL	B	0.26%	0.74%	0.26%
AGM	B	0.01%	0.03%	0.01%
AIG	B	0.13%	0.63%	0.13%
AIZ	A	0.03%	0.15%	0.03%
AJG	A	0.07%	0.8%	0.07%
ALL	A	0.15%	0.64%	0.15%
ALLY	C	0.05%	0.12%	0.05%
AMP	A	0.14%	0.69%	0.14%
AMSF	B	0.01%	0.01%	0.01%
APO	B	0.2%	0.81%	0.2%
ARES	A	0.1%	0.39%	0.1%
ASB	B	0.04%	0.05%	0.04%
AUB	B	0.03%	0.04%	0.03%
AXP	A	0.32%	2.05%	0.32%
BAC	A	1.22%	4.0%	1.22%
BANC	B	0.02%	0.03%	0.02%
BANF	B	0.03%	0.03%	0.03%
BANR	B	0.03%	0.03%	0.03%
BEN	C	0.06%	0.08%	0.06%
BFH	C	0.02%	0.01%	0.01%
BK	A	0.23%	0.71%	0.23%
BKU	A	0.01%	0.04%	0.01%
BLK	B	0.43%	1.93%	0.43%
BOH	B	0.01%	0.04%	0.01%
BOKF	B	0.03%	0.04%	0.03%
BPOP	C	0.03%	0.09%	0.03%
BRKL	B	0.02%	0.01%	0.01%
BRO	B	0.04%	0.33%	0.04%
BUSE	B	0.02%	0.02%	0.02%
BX	A	0.39%	1.6%	0.39%
C	A	0.63%	1.61%	0.63%
CADE	B	0.02%	0.08%	0.02%
CATY	B	0.03%	0.04%	0.03%
CBOE	C	0.05%	0.26%	0.05%
CBSH	B	0.02%	0.11%	0.02%
CBU	B	0.02%	0.04%	0.02%
CFFN	C	0.01%	0.01%	0.01%
CFR	B	0.04%	0.1%	0.04%
CG	B	0.08%	0.15%	0.08%
CHCO	B	0.01%	0.02%	0.01%
CINF	A	0.08%	0.29%	0.08%
CMA	B	0.06%	0.11%	0.06%
CME	B	0.19%	0.99%	0.19%
CNO	B	0.03%	0.06%	0.03%
CNS	B	0.03%	0.03%	0.03%
COF	C	0.16%	0.87%	0.16%
COLB	B	0.03%	0.08%	0.03%
CVBF	A	0.02%	0.04%	0.02%
DFS	B	0.13%	0.54%	0.13%
EBC	B	0.01%	0.04%	0.01%
EGBN	B	0.02%	0.01%	0.01%
EQH	C	0.05%	0.19%	0.05%
ERIE	D	0.04%	0.13%	0.04%
EVR	B	0.05%	0.14%	0.05%
EWBC	A	0.06%	0.18%	0.06%
FAF	A	0.03%	0.08%	0.03%
FBMS	B	0.02%	0.01%	0.01%
FBP	C	0.03%	0.04%	0.03%
FCF	B	0.02%	0.02%	0.02%
FCNCA	A	0.03%	0.27%	0.03%
FDS	B	0.02%	0.23%	0.02%
FFBC	B	0.02%	0.03%	0.02%
FFIN	B	0.01%	0.06%	0.01%
FG	A	0.01%	0.01%	0.01%
FHB	B	0.04%	0.05%	0.04%
FIBK	B	0.03%	0.04%	0.03%
FIS	C	0.21%	0.61%	0.21%
FITB	B	0.16%	0.4%	0.16%
FNB	A	0.04%	0.08%	0.04%
FNF	B	0.07%	0.19%	0.07%
FRME	B	0.02%	0.03%	0.02%
FULT	A	0.02%	0.04%	0.02%
GBCI	B	0.02%	0.08%	0.02%
GL	C	0.01%	0.13%	0.01%
GPN	B	0.03%	0.37%	0.03%
GS	A	0.69%	2.35%	0.69%
HAFC	B	0.02%	0.01%	0.01%
HBAN	A	0.13%	0.32%	0.13%
HIG	B	0.13%	0.43%	0.13%
HLI	A	0.04%	0.12%	0.04%
HLNE	B	0.03%	0.09%	0.03%
HMN	B	0.01%	0.02%	0.01%
HOMB	A	0.03%	0.07%	0.03%
HTH	C	0.02%	0.02%	0.02%
HTLF	B	0.02%	0.04%	0.02%
HWC	B	0.02%	0.06%	0.02%
IBKR	A	0.02%	0.22%	0.02%
IBOC	B	0.02%	0.05%	0.02%
IBTX	B	0.02%	0.03%	0.02%
ICE	C	0.21%	1.11%	0.21%
JEF	A	0.07%	0.15%	0.07%
JKHY	D	0.02%	0.16%	0.02%
JPM	A	3.09%	8.6%	3.09%
JXN	C	0.06%	0.09%	0.06%
KKR	A	0.13%	1.16%	0.13%
KMPR	A	0.02%	0.06%	0.02%
KNSL	B	0.01%	0.13%	0.01%
L	A	0.01%	0.2%	0.01%
LNC	C	0.05%	0.07%	0.05%
LPLA	A	0.03%	0.29%	0.03%
MA	B	0.45%	5.35%	0.45%
MC	C	0.03%	0.06%	0.03%
MCO	B	0.11%	0.98%	0.11%
MCY	A	0.02%	0.03%	0.02%
MET	A	0.22%	0.63%	0.22%
MKTX	D	0.01%	0.12%	0.01%
MMC	B	0.25%	1.35%	0.25%
MORN	B	0.01%	0.12%	0.01%
MS	A	1.03%	2.0%	1.03%
MSBI	B	0.01%	0.01%	0.01%
MSCI	C	0.05%	0.59%	0.05%
MTB	A	0.16%	0.44%	0.16%
MTG	C	0.04%	0.08%	0.04%
NAVI	F	0.01%	0.02%	0.01%
NBHC	C	0.02%	0.02%	0.02%
NDAQ	A	0.07%	0.42%	0.07%
NTRS	A	0.09%	0.27%	0.09%
OCFC	B	0.02%	0.02%	0.02%
OFG	B	0.03%	0.02%	0.02%
OMF	A	0.05%	0.09%	0.05%
ONB	C	0.02%	0.09%	0.02%
ORI	A	0.07%	0.12%	0.07%
OWL	A	0.05%	0.13%	0.05%
OZK	B	0.03%	0.06%	0.03%
PB	B	0.03%	0.1%	0.03%
PEBO	B	0.02%	0.02%	0.02%
PFBC	B	0.01%	0.01%	0.01%
PFG	D	0.09%	0.25%	0.09%
PFS	B	0.03%	0.03%	0.03%
PFSI	C	0.01%	0.05%	0.01%
PGR	A	0.13%	1.87%	0.13%
PNC	B	0.39%	1.03%	0.39%
PNFP	B	0.01%	0.12%	0.01%
PRI	B	0.03%	0.13%	0.03%
PRK	B	0.01%	0.04%	0.01%
PRU	A	0.25%	0.56%	0.25%
QCRH	B	0.03%	0.02%	0.02%
RDN	D	0.04%	0.07%	0.04%
RF	A	0.15%	0.3%	0.15%
RGA	A	0.06%	0.19%	0.06%
RJF	A	0.06%	0.39%	0.06%
RLI	A	0.01%	0.09%	0.01%
RNST	B	0.02%	0.03%	0.02%
SAFT	B	0.01%	0.01%	0.01%
SASR	B	0.03%	0.02%	0.02%
SCHW	B	0.23%	1.5%	0.23%
SEIC	B	0.02%	0.11%	0.02%
SF	B	0.03%	0.15%	0.03%
SFBS	C	0.01%	0.06%	0.01%
SFNC	C	0.03%	0.04%	0.03%
SIGI	C	0.01%	0.07%	0.01%
SLM	A	0.02%	0.06%	0.02%
SNV	C	0.04%	0.11%	0.04%
SPGI	C	0.16%	2.02%	0.16%
SRCE	B	0.01%	0.02%	0.01%
SSB	B	0.02%	0.1%	0.02%
STBA	B	0.02%	0.02%	0.02%
STC	B	0.02%	0.02%	0.02%
STEP	C	0.02%	0.05%	0.02%
STT	B	0.13%	0.35%	0.13%
SYBT	B	0.02%	0.03%	0.02%
SYF	B	0.09%	0.32%	0.09%
TFSL	A	0.03%	0.01%	0.01%
THG	A	0.02%	0.07%	0.02%
TMP	B	0.03%	0.01%	0.01%
TPG	A	0.02%	0.06%	0.02%
TRMK	C	0.02%	0.03%	0.02%
TROW	B	0.13%	0.33%	0.13%
TRST	B	0.02%	0.01%	0.01%
TRV	B	0.15%	0.73%	0.15%
TW	A	0.02%	0.18%	0.02%
UBSI	B	0.02%	0.07%	0.02%
UCB	A	0.01%	0.04%	0.01%
UMBF	B	0.02%	0.07%	0.02%
UNM	A	0.06%	0.16%	0.06%
USB	A	0.42%	0.98%	0.42%
UVSP	B	0.02%	0.01%	0.01%
UWMC	D	0.0%	0.01%	0.0%
V	A	0.67%	6.01%	0.67%
VCTR	B	0.03%	0.04%	0.03%
VIRT	A	0.02%	0.04%	0.02%
VLY	B	0.04%	0.06%	0.04%
VOYA	B	0.02%	0.1%	0.02%
VRTS	B	0.02%	0.02%	0.02%
WAFD	B	0.02%	0.04%	0.02%
WAL	B	0.03%	0.12%	0.03%
WBS	A	0.05%	0.13%	0.05%
WD	D	0.01%	0.05%	0.01%
WFC	A	0.9%	3.14%	0.9%
WRB	A	0.07%	0.23%	0.07%
WSBC	B	0.03%	0.03%	0.03%
WSFS	B	0.02%	0.04%	0.02%
WTFC	A	0.01%	0.11%	0.01%
WU	F	0.03%	0.03%	0.03%
ZION	B	0.04%	0.11%	0.04%

DTD Overweight 614 Positions Relative to FNCL

Symbol	Grade	Weight
AAPL	C	3.03%
MSFT	D	2.78%
XOM	B	2.48%
AVGO	D	2.39%
NVDA	B	2.38%
ABBV	F	1.97%
JNJ	C	1.83%
HD	B	1.78%
WMT	A	1.61%
PG	C	1.61%
CVX	A	1.51%
KO	D	1.4%
CSCO	B	1.3%
UNH	B	1.24%
IBM	C	1.21%
PM	B	1.16%
PEP	F	1.12%
META	D	0.92%
CMCSA	B	0.88%
GOOGL	C	0.87%
MCD	D	0.83%
MRK	D	0.79%
TMUS	B	0.76%
ORCL	A	0.74%
MO	A	0.7%
TXN	C	0.65%
LLY	F	0.63%
GOOG	C	0.57%
LOW	C	0.57%
BMY	B	0.57%
RTX	D	0.56%
AMGN	F	0.55%
HON	C	0.53%
GILD	C	0.47%
LMT	D	0.45%
CAT	B	0.45%
COST	A	0.44%
UPS	C	0.43%
QCOM	F	0.42%
ABT	B	0.42%
SO	C	0.41%
EOG	A	0.41%
SPG	A	0.4%
DUK	C	0.39%
OKE	A	0.38%
MDLZ	F	0.37%
UNP	C	0.37%
TJX	A	0.35%
WMB	A	0.35%
ADP	A	0.34%
PLD	F	0.33%
D	C	0.32%
COP	C	0.32%
ITW	B	0.31%
SBUX	A	0.31%
CL	D	0.3%
BKNG	A	0.3%
PCAR	B	0.29%
AMT	C	0.27%
PEG	A	0.26%
KMB	C	0.26%
TGT	F	0.25%
CVS	D	0.25%
PAYX	B	0.25%
O	C	0.25%
PSA	C	0.25%
VICI	C	0.25%
CRM	B	0.25%
AEP	C	0.24%
WM	B	0.24%
SYK	B	0.24%
XEL	A	0.22%
ETR	B	0.22%
MPC	D	0.22%
CCI	C	0.22%
KHC	F	0.21%
CI	D	0.21%
ADI	D	0.21%
PH	A	0.2%
PSX	C	0.2%
GD	D	0.2%
SRE	A	0.2%
FAST	B	0.19%
WELL	A	0.19%
ED	C	0.19%
APD	A	0.19%
DOW	F	0.19%
KVUE	A	0.19%
EMR	B	0.19%
VST	A	0.18%
DE	B	0.18%
VLO	C	0.17%
GLW	B	0.17%
CMI	A	0.17%
DIS	B	0.17%
INTU	B	0.17%
SYY	D	0.17%
DLR	B	0.17%
NSC	B	0.16%
FDX	B	0.16%
GIS	D	0.16%
AVB	B	0.16%
GE	D	0.16%
KR	B	0.16%
EQIX	A	0.16%
TMO	F	0.16%
EXR	C	0.15%
HPQ	B	0.15%
MAR	A	0.15%
EXC	C	0.15%
EIX	B	0.15%
APH	A	0.15%
CTAS	B	0.15%
MSI	B	0.15%
NOC	D	0.14%
AMAT	F	0.14%
KDP	F	0.14%
NKE	F	0.14%
DHR	F	0.14%
SHW	B	0.13%
ECL	D	0.13%
K	A	0.13%
ELV	F	0.13%
BDX	F	0.12%
LRCX	F	0.12%
ZTS	D	0.12%
AEE	A	0.12%
BKR	A	0.12%
LHX	C	0.12%
HCA	F	0.11%
CSX	C	0.11%
BBY	D	0.11%
GM	C	0.11%
TRGP	A	0.11%
PKG	A	0.11%
WEC	A	0.11%
ES	C	0.11%
STZ	D	0.11%
YUM	D	0.11%
FE	C	0.11%
DRI	B	0.11%
IRM	C	0.11%
CARR	C	0.1%
PPL	A	0.1%
CRBG	B	0.1%
KLAC	F	0.1%
ATO	A	0.1%
GWW	B	0.1%
IP	A	0.1%
RSG	A	0.1%
OTIS	C	0.1%
EQR	C	0.1%
DD	C	0.09%
VTRS	A	0.09%
DTE	C	0.09%
EBAY	D	0.09%
FANG	C	0.09%
PNW	A	0.08%
ADM	D	0.08%
MCK	A	0.08%
HSY	F	0.08%
TSCO	D	0.08%
URI	C	0.08%
TSN	B	0.08%
HPE	B	0.08%
CEG	C	0.08%
VTR	B	0.08%
LVS	B	0.08%
CTSH	B	0.08%
MU	D	0.08%
PPG	F	0.08%
OMC	C	0.08%
LNG	A	0.08%
SNA	A	0.08%
NTAP	C	0.08%
EVRG	A	0.08%
HRL	D	0.07%
CAG	F	0.07%
CMS	C	0.07%
CAH	B	0.07%
OXY	D	0.07%
BR	A	0.07%
COR	B	0.07%
NRG	B	0.07%
ARE	F	0.07%
EQT	B	0.07%
MCHP	F	0.07%
CLX	A	0.07%
GPC	D	0.06%
ESS	B	0.06%
TPR	B	0.06%
CUBE	C	0.06%
IPG	D	0.06%
DOV	A	0.06%
MKC	C	0.06%
HLT	A	0.06%
AWK	C	0.06%
WSO	A	0.06%
OGE	A	0.06%
WPC	C	0.06%
LAMR	C	0.06%
LUV	C	0.06%
TXRH	B	0.06%
ROST	D	0.06%
LNT	A	0.06%
MAA	B	0.06%
GLPI	C	0.06%
NI	A	0.06%
LEN	D	0.06%
DHI	F	0.06%
HES	B	0.06%
ROK	C	0.06%
AM	A	0.06%
DELL	B	0.06%
INVH	D	0.05%
SJM	D	0.05%
AME	A	0.05%
HRB	D	0.05%
UDR	B	0.05%
LII	A	0.05%
JNPR	D	0.05%
INGR	C	0.05%
GEN	B	0.05%
VMC	B	0.05%
KIM	A	0.05%
IR	B	0.05%
HUBB	B	0.05%
PHM	D	0.05%
RS	B	0.05%
HAL	C	0.05%
DAL	B	0.05%
CPB	D	0.05%
FOX	A	0.05%
SWK	D	0.05%
EMN	C	0.05%
MAS	D	0.05%
ROP	B	0.05%
CNA	C	0.05%
WSM	C	0.05%
DTM	A	0.05%
NUE	C	0.05%
UI	B	0.05%
CNP	A	0.05%
AIT	B	0.04%
MRO	B	0.04%
HST	C	0.04%
VRSK	A	0.04%
WAB	B	0.04%
PCG	A	0.04%
MLI	B	0.04%
RPM	A	0.04%
ACI	C	0.04%
BKH	A	0.04%
CIVI	D	0.04%
SWKS	F	0.04%
OC	A	0.04%
CSL	C	0.04%
CF	A	0.04%
EA	A	0.04%
CHRW	B	0.04%
ITT	A	0.04%
FRT	B	0.04%
TPL	A	0.04%
BAH	F	0.04%
OVV	B	0.04%
TAP	C	0.04%
NWE	B	0.04%
DKS	D	0.04%
XYL	D	0.04%
HWM	A	0.04%
NNN	C	0.04%
BRX	A	0.04%
CHRD	D	0.04%
CHD	A	0.04%
ROL	B	0.04%
ODFL	C	0.04%
DGX	A	0.04%
PWR	A	0.04%
SW	A	0.04%
LDOS	C	0.04%
MLM	C	0.04%
WY	F	0.04%
RMD	C	0.04%
STLD	B	0.04%
KTB	B	0.03%
RUSHA	C	0.03%
WLK	D	0.03%
WH	B	0.03%
KBH	D	0.03%
ATR	B	0.03%
FTV	C	0.03%
TNL	A	0.03%
SMG	C	0.03%
NXST	C	0.03%
PNM	B	0.03%
CPT	B	0.03%
MPWR	F	0.03%
SAIC	F	0.03%
NWSA	A	0.03%
CBT	D	0.03%
EHC	B	0.03%
MSM	C	0.03%
SR	A	0.03%
GPK	C	0.03%
SON	F	0.03%
AVY	F	0.03%
ALE	A	0.03%
GAP	C	0.03%
WST	C	0.03%
DCI	B	0.03%
JWN	D	0.03%
WEN	D	0.03%
POR	C	0.03%
FLO	D	0.03%
DPZ	C	0.03%
OGN	F	0.03%
SCI	B	0.03%
EFX	F	0.03%
OGS	A	0.03%
BWXT	B	0.03%
R	B	0.03%
DINO	D	0.03%
PATK	C	0.03%
HUM	C	0.03%
CCOI	B	0.03%
SUI	C	0.03%
LKQ	F	0.03%
MTN	C	0.03%
FLS	B	0.03%
GEHC	D	0.03%
WTRG	B	0.03%
BALL	F	0.03%
AWR	B	0.03%
NFG	A	0.03%
VRT	B	0.03%
LECO	C	0.03%
A	D	0.03%
HEI	A	0.03%
AROC	A	0.03%
SIRI	C	0.03%
AVA	A	0.03%
LH	B	0.03%
UGI	C	0.03%
PAG	B	0.03%
ALSN	B	0.03%
EXPD	C	0.03%
RL	C	0.03%
CDW	F	0.03%
SSNC	B	0.03%
TTEK	F	0.02%
TPX	B	0.02%
FR	D	0.02%
ZWS	B	0.02%
SSD	F	0.02%
M	F	0.02%
RRC	B	0.02%
PR	B	0.02%
CRI	F	0.02%
IOSP	C	0.02%
CWEN	C	0.02%
BERY	C	0.02%
MGEE	B	0.02%
VAC	C	0.02%
BC	C	0.02%
MDU	D	0.02%
HUN	F	0.02%
SPB	C	0.02%
BNL	D	0.02%
TKO	A	0.02%
WHD	B	0.02%
ARMK	B	0.02%
TDS	B	0.02%
SEM	B	0.02%
MRTN	D	0.02%
OTTR	C	0.02%
KFY	B	0.02%
NSA	C	0.02%
UPBD	B	0.02%
JBL	C	0.02%
NYT	D	0.02%
ACM	B	0.02%
CCS	D	0.02%
BRC	D	0.02%
AL	B	0.02%
GNTX	C	0.02%
BKE	B	0.02%
BWA	D	0.02%
NEU	D	0.02%
MOS	F	0.02%
BYD	B	0.02%
LAD	A	0.02%
APOG	C	0.02%
WWD	C	0.02%
FCPT	C	0.02%
NDSN	B	0.02%
MGY	A	0.02%
TXT	D	0.02%
EPR	C	0.02%
IPAR	B	0.02%
ADTN	A	0.02%
OSK	C	0.02%
LW	C	0.02%
AMH	C	0.02%
UHS	D	0.02%
HNI	B	0.02%
RHP	B	0.02%
PINC	B	0.02%
RHI	C	0.02%
CMC	B	0.02%
SBRA	C	0.02%
CRC	A	0.02%
LCII	C	0.02%
MATX	C	0.02%
EXP	B	0.02%
MUR	D	0.02%
CAKE	C	0.02%
IDA	A	0.02%
RRX	B	0.02%
MWA	B	0.02%
PII	F	0.02%
LPX	B	0.02%
KMT	B	0.02%
RGLD	C	0.02%
BBWI	C	0.02%
FBIN	D	0.02%
THO	B	0.02%
ELS	C	0.02%
TTC	C	0.02%
CE	F	0.02%
LSTR	D	0.02%
LANC	C	0.02%
STAG	D	0.02%
GTY	A	0.02%
KNTK	A	0.02%
HRI	C	0.02%
JBHT	C	0.02%
IDCC	B	0.02%
UFPI	C	0.02%
CASY	A	0.02%
ESI	B	0.02%
SWX	B	0.02%
ZBH	C	0.02%
SBAC	D	0.02%
PRGS	A	0.02%
J	D	0.02%
TKR	D	0.02%
AVNT	B	0.02%
APA	D	0.02%
REYN	D	0.02%
HII	F	0.02%
ALB	B	0.02%
NJR	A	0.02%
TRN	B	0.02%
GEF	A	0.02%
NOG	B	0.02%
AOS	F	0.02%
GGG	B	0.02%
POOL	C	0.02%
IEX	C	0.02%
AVT	C	0.02%
AWI	A	0.02%
REG	A	0.02%
IIPR	D	0.01%
DAN	D	0.01%
CNXC	F	0.01%
DK	C	0.01%
HI	C	0.01%
TEX	F	0.01%
AESI	B	0.01%
IRDM	D	0.01%
IBP	D	0.01%
LZB	B	0.01%
COLD	D	0.01%
COKE	C	0.01%
WMG	D	0.01%
BMI	B	0.01%
VSH	F	0.01%
DLB	B	0.01%
LXP	D	0.01%
WOR	F	0.01%
GES	F	0.01%
MLKN	F	0.01%
PCH	F	0.01%
CABO	B	0.01%
TOL	B	0.01%
OXM	F	0.01%
SCL	C	0.01%
ENS	F	0.01%
WINA	C	0.01%
BRKR	D	0.01%
MUSA	B	0.01%
BLMN	F	0.01%
SCS	C	0.01%
HXL	F	0.01%
LEVI	F	0.01%
LBRT	D	0.01%
PBI	B	0.01%
PRDO	B	0.01%
CWEN	C	0.01%
OLED	F	0.01%
ASH	F	0.01%
CHE	D	0.01%
XRX	F	0.01%
GBX	A	0.01%
HOG	D	0.01%
MCRI	A	0.01%
DIN	C	0.01%
AMKR	D	0.01%
DLX	B	0.01%
ORA	B	0.01%
CHH	A	0.01%
WKC	C	0.01%
KRO	C	0.01%
GRNT	B	0.01%
RGP	F	0.01%
CXT	C	0.01%
COLM	C	0.01%
SLGN	A	0.01%
RRR	F	0.01%
X	B	0.01%
EGP	D	0.01%
HEES	C	0.01%
SEB	F	0.01%
JJSF	C	0.01%
PDCO	F	0.01%
PBF	D	0.01%
ENR	B	0.01%
KALU	C	0.01%
PTVE	B	0.01%
XRAY	F	0.01%
BTU	B	0.01%
CC	C	0.01%
CHDN	B	0.01%
LEG	F	0.01%
KRC	B	0.01%
UTZ	D	0.01%
MAN	F	0.01%
MTDR	B	0.01%
UVV	B	0.01%
WCC	B	0.01%
AZZ	A	0.01%
HP	C	0.01%
KLG	B	0.01%
BHE	C	0.01%
AAON	B	0.01%
PZZA	F	0.01%
WERN	C	0.01%
CRGY	B	0.01%
EDR	A	0.01%
KSS	F	0.01%
FIX	A	0.01%
MMS	F	0.01%
TECH	F	0.01%
KWR	C	0.01%
EPC	F	0.01%
SSBK	B	0.01%
EXPO	D	0.01%
WMK	C	0.01%
CHX	C	0.01%
NSP	F	0.01%
MSA	F	0.01%
BCO	F	0.01%
EME	A	0.01%
OLN	F	0.01%
CPK	A	0.01%
KBR	F	0.01%
SM	B	0.01%
MKSI	C	0.01%
STRA	C	0.01%
BSY	F	0.01%
ABM	B	0.01%
GOLF	B	0.01%
WDFC	B	0.01%
WWW	A	0.01%
DNB	B	0.01%
AGCO	D	0.01%
ADC	A	0.01%
VMI	B	0.01%
UTL	B	0.01%
LFUS	D	0.01%
SNDR	B	0.01%
AEO	F	0.01%
LEA	F	0.01%
WGO	C	0.01%
GATX	A	0.01%
NOV	C	0.01%
PHIN	A	0.01%
WMS	F	0.01%
SXT	C	0.01%
SLG	B	0.01%
SHOO	F	0.01%
SLVM	B	0.01%
VLTO	C	0.01%
SKT	A	0.01%
JBT	B	0.01%
TER	F	0.01%
PTEN	C	0.01%
SNX	D	0.01%
POWL	C	0.01%
CCK	D	0.01%
SEE	C	0.01%
PAYC	B	0.01%
CVI	F	0.01%
CRS	B	0.01%
MAC	B	0.0%
POWI	F	0.0%
KW	C	0.0%
NWS	A	0.0%
GTN	F	0.0%
RELL	B	0.0%
NFE	D	0.0%
CWH	B	0.0%
BGS	F	0.0%
NUS	D	0.0%

DTD Underweight 183 Positions Relative to FNCL

Symbol	Grade	Weight
BRK.A	B	-7.67%
FI	A	-1.53%
CB	C	-1.37%
PYPL	B	-1.05%
AON	A	-0.91%
TFC	A	-0.77%
COIN	C	-0.66%
SQ	A	-0.58%
ACGL	C	-0.46%
WTW	B	-0.4%
CPAY	A	-0.31%
MKL	A	-0.28%
CFG	B	-0.27%
KEY	B	-0.23%
HOOD	B	-0.21%
EG	C	-0.2%
TOST	B	-0.18%
SOFI	B	-0.17%
RNR	C	-0.17%
AFRM	A	-0.16%
FHN	A	-0.14%
RYAN	A	-0.09%
AXS	A	-0.09%
WEX	D	-0.09%
JHG	B	-0.08%
COOP	B	-0.08%
AGNC	C	-0.08%
FOUR	A	-0.07%
STWD	C	-0.07%
IVZ	B	-0.07%
ESNT	F	-0.07%
AMG	B	-0.07%
PIPR	A	-0.07%
ABCB	B	-0.06%
EEFT	B	-0.06%
WTM	A	-0.06%
AGO	B	-0.06%
UPST	B	-0.06%
BGC	C	-0.05%
PJT	A	-0.05%
TCBI	C	-0.05%
ESGR	B	-0.05%
AX	B	-0.05%
INDB	B	-0.04%
GSHD	A	-0.04%
CACC	D	-0.04%
BXMT	C	-0.04%
NMIH	C	-0.04%
HASI	D	-0.04%
GNW	A	-0.04%
APAM	B	-0.04%
FHI	B	-0.04%
BHF	C	-0.04%
NATL	B	-0.03%
FBK	C	-0.03%
PRG	C	-0.03%
FRHC	B	-0.03%
EVTC	B	-0.03%
DBRG	F	-0.03%
TFIN	B	-0.03%
NBTB	B	-0.03%
EFSC	B	-0.03%
SBCF	B	-0.03%
TBBK	B	-0.03%
FLYW	B	-0.03%
PPBI	C	-0.03%
OSCR	D	-0.03%
ABR	C	-0.03%
PLMR	A	-0.03%
TOWN	B	-0.03%
PAYO	A	-0.03%
ENVA	B	-0.03%
SNEX	B	-0.03%
PMT	C	-0.02%
EIG	B	-0.02%
ARI	C	-0.02%
BHLB	B	-0.02%
RC	D	-0.02%
GABC	B	-0.02%
WT	A	-0.02%
WABC	B	-0.02%
NNI	D	-0.02%
NIC	B	-0.02%
VBTX	B	-0.02%
CODI	B	-0.02%
TCBK	C	-0.02%
LOB	C	-0.02%
LADR	B	-0.02%
SPNT	B	-0.02%
MQ	D	-0.02%
HOPE	C	-0.02%
CUBI	B	-0.02%
LMND	B	-0.02%
RKT	F	-0.02%
LC	A	-0.02%
SKWD	A	-0.02%
DFIN	D	-0.02%
LKFN	C	-0.02%
NWBI	B	-0.02%
TRUP	B	-0.02%
FBNC	B	-0.02%
CASH	B	-0.02%
CLBK	C	-0.01%
HONE	C	-0.01%
KRNY	C	-0.01%
CCBG	B	-0.01%
GDOT	D	-0.01%
PX	A	-0.01%
TRTX	C	-0.01%
GSBC	C	-0.01%
UFCS	A	-0.01%
TREE	F	-0.01%
NFBK	C	-0.01%
NRDS	C	-0.01%
BHB	C	-0.01%
SPFI	C	-0.01%
AMBC	C	-0.01%
TIPT	C	-0.01%
PGC	B	-0.01%
KREF	C	-0.01%
FMNB	B	-0.01%
MCB	B	-0.01%
EZPW	B	-0.01%
LPRO	B	-0.01%
FSBC	C	-0.01%
THFF	B	-0.01%
CTLP	B	-0.01%
PAY	A	-0.01%
SMBC	B	-0.01%
UVE	B	-0.01%
IIIV	C	-0.01%
CAC	C	-0.01%
RBCAA	B	-0.01%
EQBK	B	-0.01%
RPAY	D	-0.01%
IMXI	B	-0.01%
CPF	B	-0.01%
BFST	C	-0.01%
CASS	C	-0.01%
MCBS	B	-0.01%
AMTB	B	-0.01%
FCBC	C	-0.01%
HTBK	B	-0.01%
CMTG	F	-0.01%
PRA	C	-0.01%
AMAL	B	-0.01%
OSBC	A	-0.01%
FMBH	B	-0.01%
CCB	A	-0.01%
CFB	B	-0.01%
WASH	C	-0.01%
HFWA	C	-0.01%
PRAA	D	-0.01%
BFC	B	-0.01%
BHRB	B	-0.01%
HBNC	B	-0.01%
BRSP	C	-0.01%
MBIN	F	-0.01%
BSIG	A	-0.01%
DX	B	-0.01%
MBWM	B	-0.01%
RWT	D	-0.01%
BY	B	-0.01%
SBSI	C	-0.01%
OBK	C	-0.01%
ECPG	C	-0.01%
CNOB	B	-0.01%
EFC	C	-0.01%
CTBI	B	-0.01%
CNNE	B	-0.01%
HCI	C	-0.01%
IBCP	B	-0.01%
FBRT	D	-0.01%
PFC	B	-0.01%
DCOM	B	-0.01%
AROW	B	-0.0%
RILY	F	-0.0%
GCBC	C	-0.0%
DGICA	A	-0.0%
DHIL	B	-0.0%
HGTY	B	-0.0%
HBT	B	-0.0%
WRLD	C	-0.0%