FAB vs. MFUS ETF Comparison

Comparison of First Trust Multi Cap Value AlphaDEX Fund (FAB) to PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS)

FAB

First Trust Multi Cap Value AlphaDEX Fund

FAB Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Multi Cap Value Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Composite 1500(R) Value Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$84.26

Average Daily Volume

3,932

Number of Holdings ^*

660

* may have additional holdings in another (foreign) market

MFUS

PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF

MFUS Description

The investment seeks to track the investment results of the RAFI Dynamic Multi-Factor U.S. Index. The fund seeks to achieve its investment objective by investing at least 80% of its total assets (exclusive of collateral held from securities lending) in the component securities of the RAFI Dynamic Multi-Factor U.S. Index. The underlying index is constructed by RAFI Indices, LLC (the index provider) using a rules-based approach to construct factor portfolios within the underlying index. The underlying index consists of factor portfolios, each of which emphasizes one of the following factors: value, low volatility, quality, momentum and size.

Grade (RS Rating)

Last Trade

$50.42

Average Daily Volume

7,688

Number of Holdings ^*

780

* may have additional holdings in another (foreign) market

Performance

Period	FAB	MFUS
30 Days	1.21%	2.56%
60 Days	0.53%	4.48%
90 Days	7.56%	6.34%
12 Months	23.33%	31.81%

348 Overlapping Holdings

Symbol	Grade	Weight in FAB	Weight in MFUS	Overlap
AAP	F	0.03%	0.01%	0.01%
ABG	D	0.16%	0.07%	0.07%
ABM	D	0.1%	0.04%	0.04%
ADM	D	0.43%	0.35%	0.35%
ADNT	D	0.11%	0.03%	0.03%
AEO	D	0.12%	0.1%	0.1%
AFG	C	0.05%	0.01%	0.01%
AFL	A	0.3%	0.2%	0.2%
AGCO	D	0.2%	0.02%	0.02%
AGNC	B	0.14%	0.04%	0.04%
AIG	D	0.33%	0.45%	0.33%
AIZ	B	0.1%	0.08%	0.08%
ALLY	F	0.15%	0.11%	0.11%
AMG	C	0.24%	0.05%	0.05%
AMKR	F	0.07%	0.03%	0.03%
AN	C	0.18%	0.09%	0.09%
ANDE	D	0.1%	0.02%	0.02%
APAM	C	0.02%	0.02%	0.02%
APOG	B	0.08%	0.02%	0.02%
AR	C	0.03%	0.04%	0.03%
ARCB	D	0.08%	0.01%	0.01%
ARCH	D	0.1%	0.01%	0.01%
ARW	B	0.18%	0.07%	0.07%
ASO	D	0.24%	0.04%	0.04%
AVA	B	0.13%	0.03%	0.03%
AVT	B	0.17%	0.05%	0.05%
AYI	B	0.09%	0.08%	0.08%
BAC	D	0.25%	0.42%	0.25%
BBWI	D	0.1%	0.02%	0.02%
BBY	A	0.29%	0.26%	0.26%
BC	C	0.14%	0.07%	0.07%
BCC	C	0.21%	0.07%	0.07%
BDC	B	0.06%	0.05%	0.05%
BECN	F	0.08%	0.01%	0.01%
BEN	F	0.31%	0.05%	0.05%
BERY	B	0.14%	0.06%	0.06%
BHF	F	0.04%	0.04%	0.04%
BIIB	F	0.07%	0.08%	0.07%
BJ	D	0.04%	0.03%	0.03%
BKE	B	0.08%	0.03%	0.03%
BKR	C	0.25%	0.18%	0.18%
BKU	D	0.12%	0.03%	0.03%
BRK.A	C	0.47%	2.12%	0.47%
BTU	C	0.21%	0.05%	0.05%
BWA	C	0.17%	0.05%	0.05%
C	C	0.24%	1.34%	0.24%
CACC	F	0.04%	0.01%	0.01%
CACI	B	0.05%	0.1%	0.05%
CADE	C	0.19%	0.01%	0.01%
CAG	B	0.38%	0.05%	0.05%
CALM	B	0.12%	0.07%	0.07%
CB	B	0.38%	0.17%	0.17%
CBRL	D	0.07%	0.01%	0.01%
CCK	B	0.05%	0.07%	0.05%
CE	D	0.4%	0.07%	0.07%
CENTA	F	0.1%	0.01%	0.01%
CFG	D	0.39%	0.07%	0.07%
CHRD	F	0.13%	0.02%	0.02%
CHTR	D	0.27%	0.27%	0.27%
CI	C	0.09%	0.15%	0.09%
CINF	C	0.48%	0.02%	0.02%
CMA	C	0.1%	0.04%	0.04%
CMC	D	0.16%	0.07%	0.07%
CMCSA	C	0.43%	0.26%	0.26%
CMI	B	0.09%	0.12%	0.09%
CNO	C	0.12%	0.04%	0.04%
CNX	B	0.15%	0.07%	0.07%
COF	B	0.37%	0.47%	0.37%
COOP	C	0.19%	0.05%	0.05%
COP	F	0.4%	0.34%	0.34%
CPB	C	0.19%	0.01%	0.01%
CRBG	C	0.24%	0.04%	0.04%
CRI	D	0.1%	0.07%	0.07%
CRUS	D	0.04%	0.05%	0.04%
CSCO	B	0.18%	0.46%	0.18%
CSGS	C	0.06%	0.01%	0.01%
CTRA	F	0.37%	0.03%	0.03%
CTVA	B	0.09%	0.04%	0.04%
CVI	F	0.19%	0.01%	0.01%
CVS	D	0.41%	0.88%	0.41%
CVX	F	0.39%	0.87%	0.39%
CWEN	A	0.03%	0.02%	0.02%
CXW	F	0.12%	0.02%	0.02%
DAN	D	0.08%	0.02%	0.02%
DD	B	0.08%	0.23%	0.08%
DDS	D	0.1%	0.04%	0.04%
DEI	B	0.06%	0.01%	0.01%
DG	F	0.05%	0.06%	0.05%
DGX	B	0.28%	0.07%	0.07%
DINO	F	0.18%	0.03%	0.03%
DK	F	0.02%	0.03%	0.02%
DKS	D	0.08%	0.1%	0.08%
DNOW	F	0.11%	0.02%	0.02%
DORM	C	0.06%	0.02%	0.02%
DOV	B	0.18%	0.02%	0.02%
DOW	C	0.17%	0.05%	0.05%
DTM	C	0.09%	0.01%	0.01%
DUK	B	0.28%	0.14%	0.14%
DXC	D	0.18%	0.02%	0.02%
EBAY	B	0.39%	0.38%	0.38%
EHC	B	0.04%	0.09%	0.04%
ELV	D	0.08%	0.09%	0.08%
EMN	B	0.14%	0.07%	0.07%
EOG	D	0.42%	0.12%	0.12%
EPC	F	0.09%	0.02%	0.02%
ESNT	B	0.24%	0.02%	0.02%
EVRG	B	0.19%	0.02%	0.02%
EWBC	C	0.14%	0.02%	0.02%
EXC	B	0.48%	0.11%	0.11%
EXPD	B	0.08%	0.08%	0.08%
F	F	0.36%	0.37%	0.36%
FAF	B	0.1%	0.02%	0.02%
FANG	F	0.38%	0.05%	0.05%
FHI	B	0.08%	0.04%	0.04%
FHN	D	0.13%	0.01%	0.01%
FITB	B	0.29%	0.06%	0.06%
FNF	B	0.21%	0.03%	0.03%
FOXA	B	0.49%	0.09%	0.09%
FYBR	C	0.22%	0.01%	0.01%
G	C	0.2%	0.05%	0.05%
GAP	F	0.11%	0.08%	0.08%
GD	C	0.09%	0.18%	0.09%
GEF	C	0.13%	0.02%	0.02%
GEO	F	0.06%	0.04%	0.04%
GES	F	0.11%	0.02%	0.02%
GHC	B	0.14%	0.02%	0.02%
GIS	B	0.29%	0.12%	0.12%
GM	C	0.44%	0.65%	0.44%
GMS	C	0.19%	0.04%	0.04%
GNW	C	0.03%	0.04%	0.03%
GPC	D	0.17%	0.02%	0.02%
GPI	B	0.27%	0.1%	0.1%
GS	B	0.19%	0.49%	0.19%
GT	F	0.09%	0.04%	0.04%
HAL	F	0.29%	0.04%	0.04%
HBAN	B	0.38%	0.03%	0.03%
HCA	B	0.21%	0.15%	0.15%
HELE	D	0.06%	0.01%	0.01%
HIG	B	0.39%	0.06%	0.06%
HII	F	0.13%	0.02%	0.02%
HLI	C	0.05%	0.08%	0.05%
HNI	C	0.03%	0.02%	0.02%
HOG	C	0.24%	0.03%	0.03%
HP	F	0.18%	0.03%	0.03%
HPE	C	0.37%	0.24%	0.24%
HPP	F	0.13%	0.01%	0.01%
HPQ	C	0.17%	0.3%	0.17%
HRL	F	0.18%	0.01%	0.01%
HSIC	C	0.05%	0.04%	0.04%
HSY	D	0.18%	0.06%	0.06%
HUBG	C	0.1%	0.04%	0.04%
INCY	C	0.27%	0.01%	0.01%
INTC	D	0.17%	0.42%	0.17%
IP	C	0.05%	0.13%	0.05%
IPG	C	0.36%	0.07%	0.07%
IVZ	B	0.05%	0.06%	0.05%
JAZZ	D	0.13%	0.01%	0.01%
JBGS	C	0.03%	0.01%	0.01%
JBHT	D	0.27%	0.02%	0.02%
JBL	C	0.25%	0.07%	0.07%
JEF	C	0.05%	0.04%	0.04%
JELD	D	0.08%	0.01%	0.01%
JLL	B	0.05%	0.06%	0.05%
JNJ	C	0.19%	1.08%	0.19%
JXN	B	0.26%	0.1%	0.1%
K	A	0.11%	0.1%	0.1%
KALU	D	0.04%	0.01%	0.01%
KBH	C	0.26%	0.05%	0.05%
KDP	B	0.19%	0.07%	0.07%
KEX	C	0.04%	0.02%	0.02%
KEY	C	0.2%	0.02%	0.02%
KHC	C	0.36%	0.17%	0.17%
KMB	C	0.08%	0.17%	0.08%
KMI	C	0.36%	0.09%	0.09%
KN	D	0.07%	0.01%	0.01%
KNX	C	0.13%	0.01%	0.01%
KR	B	0.27%	0.38%	0.27%
KSS	D	0.1%	0.06%	0.06%
L	D	0.36%	0.09%	0.09%
LAD	B	0.25%	0.01%	0.01%
LANC	F	0.04%	0.05%	0.04%
LBRDK	C	0.23%	0.02%	0.02%
LEA	D	0.16%	0.03%	0.03%
LEN	B	0.54%	0.09%	0.09%
LHX	C	0.08%	0.2%	0.08%
LMT	A	0.2%	0.55%	0.2%
LNC	C	0.17%	0.05%	0.05%
LOW	B	0.2%	0.26%	0.2%
LPX	B	0.1%	0.07%	0.07%
LSTR	D	0.04%	0.09%	0.04%
LXP	C	0.03%	0.02%	0.02%
LYB	D	0.34%	0.22%	0.22%
LZB	C	0.14%	0.03%	0.03%
M	F	0.1%	0.05%	0.05%
MATX	B	0.17%	0.03%	0.03%
MCY	C	0.05%	0.02%	0.02%
MDLZ	C	0.09%	0.23%	0.09%
MDU	B	0.18%	0.03%	0.03%
MHO	B	0.29%	0.06%	0.06%
MKC	C	0.1%	0.08%	0.08%
MKL	C	0.42%	0.03%	0.03%
MLI	B	0.16%	0.07%	0.07%
MLKN	F	0.07%	0.01%	0.01%
MMS	B	0.04%	0.06%	0.04%
MOH	D	0.2%	0.03%	0.03%
MOS	F	0.19%	0.04%	0.04%
MPC	F	0.4%	0.69%	0.4%
MTB	C	0.4%	0.03%	0.03%
MTDR	F	0.18%	0.01%	0.01%
MTG	B	0.25%	0.04%	0.04%
MTH	C	0.27%	0.09%	0.09%
MUR	F	0.18%	0.05%	0.05%
NAVI	D	0.11%	0.03%	0.03%
NFG	B	0.18%	0.05%	0.05%
NKE	D	0.09%	0.05%	0.05%
NNI	C	0.03%	0.01%	0.01%
NOV	F	0.18%	0.05%	0.05%
NRG	B	0.13%	0.08%	0.08%
NUE	D	0.39%	0.08%	0.08%
NXST	D	0.13%	0.05%	0.05%
OC	C	0.34%	0.08%	0.08%
ODP	F	0.07%	0.02%	0.02%
OGN	D	0.16%	0.08%	0.08%
OI	D	0.08%	0.04%	0.04%
OKE	C	0.19%	0.09%	0.09%
OLN	D	0.12%	0.04%	0.04%
OMC	B	0.19%	0.06%	0.06%
OMF	D	0.13%	0.04%	0.04%
OMI	D	0.08%	0.01%	0.01%
ONB	D	0.14%	0.01%	0.01%
OSK	F	0.16%	0.08%	0.08%
PAG	D	0.13%	0.05%	0.05%
PARA	D	0.04%	0.02%	0.02%
PBF	F	0.15%	0.07%	0.07%
PDCO	F	0.09%	0.04%	0.04%
PEG	B	0.19%	0.06%	0.06%
PFG	B	0.09%	0.01%	0.01%
PHIN	C	0.15%	0.02%	0.02%
PKG	B	0.2%	0.05%	0.05%
PLXS	B	0.03%	0.03%	0.03%
PNC	C	0.2%	0.11%	0.11%
PNM	B	0.08%	0.02%	0.02%
POOL	C	0.1%	0.07%	0.07%
PPG	C	0.17%	0.05%	0.05%
PRG	C	0.17%	0.03%	0.03%
PRIM	B	0.06%	0.03%	0.03%
PRU	C	0.08%	0.27%	0.08%
PSMT	B	0.05%	0.01%	0.01%
PSX	F	0.39%	0.59%	0.39%
PTEN	F	0.17%	0.02%	0.02%
PVH	D	0.19%	0.04%	0.04%
QCOM	D	0.07%	0.69%	0.07%
R	C	0.2%	0.07%	0.07%
REGN	D	0.09%	0.48%	0.09%
REZI	D	0.1%	0.02%	0.02%
RGA	C	0.04%	0.05%	0.04%
RHI	D	0.04%	0.02%	0.02%
RJF	C	0.08%	0.02%	0.02%
RLJ	D	0.12%	0.02%	0.02%
RRC	D	0.11%	0.04%	0.04%
RS	D	0.34%	0.09%	0.09%
RUSHA	C	0.26%	0.03%	0.03%
RYN	C	0.09%	0.03%	0.03%
SAH	D	0.1%	0.01%	0.01%
SAIC	C	0.09%	0.01%	0.01%
SANM	D	0.13%	0.06%	0.06%
SBH	B	0.12%	0.04%	0.04%
SCHL	D	0.11%	0.01%	0.01%
SCL	D	0.02%	0.01%	0.01%
SEB	D	0.21%	0.04%	0.04%
SEE	C	0.04%	0.07%	0.04%
SEIC	B	0.09%	0.07%	0.07%
SEM	D	0.04%	0.04%	0.04%
SHOO	B	0.03%	0.03%	0.03%
SIG	C	0.22%	0.06%	0.06%
SIGI	D	0.04%	0.01%	0.01%
SJM	C	0.37%	0.03%	0.03%
SKX	C	0.07%	0.02%	0.02%
SLGN	B	0.1%	0.05%	0.05%
SLM	C	0.09%	0.07%	0.07%
SLVM	C	0.08%	0.04%	0.04%
SM	F	0.2%	0.03%	0.03%
SNDR	B	0.11%	0.02%	0.02%
SNV	D	0.05%	0.01%	0.01%
SON	D	0.13%	0.04%	0.04%
SPB	B	0.13%	0.01%	0.01%
STC	C	0.03%	0.03%	0.03%
STLD	C	0.39%	0.05%	0.05%
STRA	F	0.04%	0.01%	0.01%
SWX	C	0.09%	0.01%	0.01%
SYF	C	0.45%	0.33%	0.33%
SYY	C	0.08%	0.07%	0.07%
T	B	0.47%	1.31%	0.47%
TAP	D	0.22%	0.09%	0.09%
TEX	F	0.2%	0.07%	0.07%
TFX	B	0.05%	0.03%	0.03%
TGNA	C	0.13%	0.04%	0.04%
TGT	C	0.18%	0.74%	0.18%
THC	C	0.21%	0.3%	0.21%
THO	C	0.14%	0.07%	0.07%
THS	C	0.03%	0.03%	0.03%
TKR	C	0.13%	0.05%	0.05%
TMHC	B	0.27%	0.09%	0.09%
TPH	C	0.2%	0.06%	0.06%
TRGP	C	0.1%	0.14%	0.1%
TROW	C	0.32%	0.08%	0.08%
TRV	C	0.2%	0.34%	0.2%
TSCO	B	0.08%	0.07%	0.07%
TSN	D	0.09%	0.23%	0.09%
TXT	D	0.25%	0.03%	0.03%
UAL	B	0.45%	0.01%	0.01%
UFPI	C	0.15%	0.08%	0.08%
UHAL	B	0.4%	0.01%	0.01%
UHAL	B	0.4%	0.04%	0.04%
UHS	C	0.21%	0.1%	0.1%
UNF	B	0.08%	0.03%	0.03%
UNM	B	0.18%	0.12%	0.12%
UPS	D	0.16%	0.2%	0.16%
URBN	F	0.15%	0.06%	0.06%
USB	C	0.29%	0.12%	0.12%
USFD	C	0.05%	0.1%	0.05%
UTHR	B	0.14%	0.17%	0.14%
UVV	D	0.13%	0.01%	0.01%
VLO	F	0.37%	0.58%	0.37%
VNO	B	0.06%	0.07%	0.06%
VSH	F	0.1%	0.04%	0.04%
VTRS	D	0.38%	0.15%	0.15%
VZ	A	0.36%	1.07%	0.36%
WAFD	D	0.06%	0.01%	0.01%
WAL	B	0.17%	0.02%	0.02%
WBS	C	0.18%	0.01%	0.01%
WCC	C	0.14%	0.09%	0.09%
WERN	C	0.1%	0.03%	0.03%
WFC	D	0.31%	1.49%	0.31%
WGO	D	0.1%	0.01%	0.01%
WHR	C	0.08%	0.05%	0.05%
WMK	D	0.14%	0.01%	0.01%
WMT	B	0.09%	1.99%	0.09%
WOR	F	0.02%	0.01%	0.01%
WPC	C	0.28%	0.06%	0.06%
WRB	D	0.18%	0.02%	0.02%
WTFC	C	0.14%	0.01%	0.01%
WTM	F	0.2%	0.04%	0.04%
WU	C	0.12%	0.08%	0.08%
XHR	B	0.05%	0.02%	0.02%
XOM	D	0.34%	1.08%	0.34%
XRX	D	0.02%	0.02%	0.02%
ZION	D	0.09%	0.03%	0.03%

FAB Overweight 313 Positions Relative to MFUS

Symbol	Grade	Weight
DHI	C	0.59%
ETR	A	0.5%
GPN	D	0.49%
CF	B	0.47%
ACGL	B	0.46%
EG	B	0.43%
APTV	D	0.42%
XEL	B	0.4%
AEP	C	0.39%
ATO	B	0.39%
EQT	C	0.39%
BG	F	0.39%
AEE	B	0.39%
PCG	C	0.38%
WBD	D	0.38%
CNC	D	0.38%
ED	B	0.38%
SNA	B	0.37%
CTSH	B	0.37%
DVN	F	0.36%
OXY	F	0.35%
LNG	D	0.35%
LKQ	F	0.33%
STT	B	0.3%
RF	B	0.29%
EIX	B	0.29%
D	C	0.29%
WEC	B	0.29%
TDY	B	0.28%
FE	B	0.28%
ZM	C	0.28%
CMS	B	0.28%
SRE	B	0.27%
DE	A	0.27%
EQR	C	0.27%
DTE	A	0.27%
FDX	D	0.25%
LUV	C	0.25%
RDN	D	0.24%
ZBH	F	0.24%
RNR	B	0.24%
TEL	D	0.24%
SWKS	F	0.23%
FMC	B	0.23%
KRC	C	0.22%
ESGR	D	0.22%
AGO	D	0.22%
COLB	B	0.22%
VLY	D	0.22%
CNP	C	0.22%
PYPL	B	0.22%
NOG	F	0.21%
LBRT	F	0.21%
DAR	F	0.21%
CNXC	F	0.21%
WY	C	0.2%
AL	C	0.2%
KIM	C	0.2%
SSNC	C	0.2%
BKH	B	0.19%
APD	B	0.19%
MDT	B	0.19%
OGS	B	0.19%
BYD	C	0.19%
CHK	C	0.19%
PNW	C	0.19%
NEE	B	0.19%
ARE	C	0.18%
EPAM	F	0.18%
OZK	F	0.18%
OVV	F	0.18%
POR	B	0.18%
MGY	D	0.17%
MS	B	0.17%
PNFP	C	0.16%
CCS	C	0.16%
CUZ	C	0.16%
ADTN	C	0.16%
CLF	F	0.16%
GL	D	0.16%
NMIH	C	0.15%
NI	B	0.15%
EBC	C	0.15%
BZH	B	0.15%
NWE	A	0.14%
PII	D	0.14%
AXS	B	0.14%
ATSG	C	0.14%
OGE	B	0.14%
BNL	B	0.14%
UAA	C	0.14%
APA	F	0.14%
INVA	C	0.14%
HE	F	0.14%
GDEN	D	0.13%
STBA	D	0.13%
IMKTA	D	0.13%
CZR	C	0.13%
ENVA	C	0.13%
SR	B	0.13%
LGIH	D	0.13%
NWN	B	0.13%
FNB	D	0.13%
EIG	C	0.13%
ASH	F	0.12%
HTZ	F	0.12%
JBT	C	0.12%
AAT	C	0.12%
CABO	F	0.12%
INDB	D	0.12%
OLPX	D	0.12%
KOP	F	0.12%
FCF	D	0.12%
ALK	B	0.12%
RC	F	0.12%
HIW	C	0.12%
NX	F	0.12%
CUBI	F	0.12%
RYI	F	0.12%
EFSC	D	0.12%
VAL	F	0.12%
PFBC	D	0.11%
IBOC	D	0.11%
REVG	D	0.11%
ABCB	C	0.11%
UMBF	C	0.11%
ATKR	F	0.11%
SSB	C	0.11%
FRME	D	0.11%
CATY	C	0.11%
FFBC	D	0.11%
CBRE	B	0.11%
OCFC	B	0.11%
ORI	B	0.1%
USM	C	0.1%
IAC	C	0.1%
SASR	C	0.1%
HOMB	D	0.1%
BOKF	C	0.1%
LNT	A	0.1%
BLK	B	0.1%
MIDD	C	0.1%
FBNC	C	0.1%
UBSI	D	0.1%
VTR	C	0.1%
PRDO	D	0.1%
PB	D	0.1%
ABR	B	0.1%
ALGT	D	0.1%
DNB	D	0.1%
KVUE	B	0.1%
PEBO	D	0.1%
VSCO	C	0.1%
IPGP	D	0.1%
OFG	C	0.09%
SNX	C	0.09%
AMN	F	0.09%
MSGE	B	0.09%
CASH	D	0.09%
COLM	C	0.09%
HOPE	D	0.09%
BANR	C	0.09%
ADV	D	0.09%
J	A	0.09%
LGND	D	0.09%
ASGN	D	0.09%
SFNC	C	0.09%
VBTX	C	0.09%
UGI	B	0.09%
SSTK	F	0.09%
PRGO	F	0.09%
ABT	C	0.09%
TOWN	D	0.09%
HWC	D	0.09%
TALO	F	0.09%
IDA	B	0.09%
JCI	B	0.09%
NJR	C	0.09%
MATW	F	0.09%
REYN	C	0.09%
PARR	F	0.09%
CRK	C	0.09%
AWK	C	0.09%
MAA	C	0.09%
CRC	C	0.09%
PATK	C	0.09%
LILAK	D	0.09%
HGV	F	0.08%
OMCL	C	0.08%
NBHC	D	0.08%
SJW	F	0.08%
KMT	B	0.08%
CROX	C	0.08%
MCRI	B	0.08%
WSBC	D	0.08%
RNST	D	0.08%
WSFS	D	0.08%
FIBK	C	0.08%
FHB	D	0.08%
ENS	C	0.08%
WLK	C	0.08%
BXC	D	0.08%
AX	D	0.08%
NWBI	D	0.08%
CENX	C	0.08%
CTOS	F	0.08%
WTRG	D	0.08%
VRTS	F	0.07%
PLUS	B	0.07%
MRTN	D	0.07%
ZD	D	0.07%
CMCO	D	0.07%
MODG	F	0.07%
HUM	F	0.07%
CAR	D	0.07%
CHGG	F	0.07%
RIG	F	0.07%
ECVT	F	0.07%
HTLD	F	0.07%
NMRK	B	0.07%
ICUI	C	0.07%
EQC	D	0.07%
KOS	F	0.07%
CPK	B	0.06%
VCTR	B	0.06%
NHC	D	0.06%
DFIN	D	0.06%
ALEX	C	0.06%
CNXN	B	0.06%
UCBI	B	0.06%
SBCF	D	0.06%
LCII	C	0.06%
AUB	D	0.06%
NIC	D	0.06%
TCBI	C	0.06%
GTY	C	0.06%
SKY	B	0.06%
VAC	D	0.06%
DIOD	F	0.06%
ROIC	C	0.06%
FUL	D	0.05%
VOYA	B	0.05%
SUM	D	0.05%
SHEN	F	0.05%
NEOG	D	0.05%
AVNT	B	0.05%
HLF	F	0.05%
BPOP	C	0.05%
TRS	C	0.05%
BXMT	C	0.05%
NVST	D	0.05%
PCH	C	0.05%
PCRX	F	0.05%
LNN	C	0.05%
MAT	D	0.05%
GOGO	F	0.05%
EAT	C	0.05%
PBH	C	0.05%
CVBF	D	0.05%
HTH	D	0.05%
PTVE	D	0.05%
SAFT	D	0.05%
DEA	D	0.05%
KLG	D	0.05%
TRMK	D	0.05%
FULT	D	0.05%
SNEX	C	0.05%
CWT	D	0.05%
BUSE	D	0.05%
SRCE	D	0.05%
TCBK	D	0.05%
OEC	F	0.05%
KWR	D	0.04%
MTX	D	0.04%
LFUS	C	0.04%
BLMN	F	0.04%
FOXF	F	0.04%
GXO	D	0.04%
CMTG	F	0.03%
OII	D	0.03%
PGRE	D	0.03%
ATUS	C	0.03%
KFY	C	0.03%
PPBI	D	0.03%
WD	B	0.03%
ADUS	C	0.03%
FBP	C	0.03%
MWA	B	0.03%
NBTB	D	0.03%
BHLB	C	0.03%
BMBL	F	0.03%
FBK	C	0.03%
CBU	D	0.03%
CVCO	B	0.03%
BOOT	B	0.03%
LTH	C	0.03%
FDP	C	0.03%
PFS	C	0.03%
HI	F	0.02%
GO	F	0.02%
OXM	F	0.02%
ROG	D	0.02%
CTS	D	0.02%
ENOV	F	0.02%
CAKE	B	0.02%
NVEE	F	0.02%
KFRC	F	0.02%
VSAT	F	0.02%
THRM	F	0.02%
AIN	F	0.02%
ASB	D	0.02%
HMN	C	0.02%
IART	F	0.01%

FAB Underweight 432 Positions Relative to MFUS

Symbol	Grade	Weight
LLY	D	-2.64%
META	B	-2.29%
NVDA	C	-1.78%
AVGO	C	-1.55%
IBM	B	-1.46%
AMZN	C	-1.4%
ABBV	B	-1.38%
GOOGL	D	-1.33%
GE	C	-1.28%
COST	C	-1.28%
ORCL	B	-1.26%
AMGN	D	-1.1%
JPM	D	-0.97%
MRK	F	-0.95%
V	C	-0.92%
PG	C	-0.91%
MA	B	-0.85%
GILD	B	-0.85%
AAPL	C	-0.72%
PEP	D	-0.65%
KO	B	-0.63%
PM	C	-0.57%
PFE	D	-0.56%
PGR	C	-0.55%
MCK	F	-0.54%
BKNG	B	-0.53%
MO	C	-0.52%
UNP	D	-0.5%
AMAT	D	-0.49%
NFLX	B	-0.48%
CAT	B	-0.47%
MMM	B	-0.45%
MCD	B	-0.43%
HD	B	-0.43%
MET	B	-0.41%
NOW	C	-0.4%
ALL	C	-0.39%
CRM	C	-0.38%
CAH	C	-0.36%
TJX	C	-0.36%
TMUS	B	-0.33%
CL	C	-0.33%
VST	B	-0.32%
ICE	C	-0.31%
AZO	B	-0.31%
BK	B	-0.3%
LRCX	D	-0.3%
BMY	C	-0.3%
ANF	D	-0.29%
INTU	D	-0.28%
DHR	B	-0.28%
WSM	C	-0.26%
LII	C	-0.26%
BX	C	-0.25%
FICO	B	-0.25%
KLAC	D	-0.25%
PANW	D	-0.25%
UBER	C	-0.24%
WM	D	-0.24%
NOC	B	-0.24%
CMG	D	-0.24%
VRTX	D	-0.23%
WSO	C	-0.23%
GLW	B	-0.22%
TXN	B	-0.22%
SHW	B	-0.22%
VRSK	D	-0.21%
CPRT	D	-0.21%
SFM	B	-0.21%
ETN	C	-0.21%
AXP	B	-0.21%
CME	B	-0.21%
MMC	C	-0.2%
BSX	B	-0.2%
DVA	B	-0.2%
AON	B	-0.2%
DPZ	D	-0.19%
PHM	B	-0.19%
GWW	B	-0.19%
ACN	C	-0.19%
ORLY	B	-0.19%
MUSA	D	-0.18%
CTAS	C	-0.18%
IT	C	-0.17%
TDG	B	-0.17%
DECK	C	-0.17%
SCHW	D	-0.17%
SPG	B	-0.16%
CLX	C	-0.16%
CASY	D	-0.16%
MU	D	-0.16%
MSI	B	-0.16%
BR	C	-0.16%
SMCI	F	-0.16%
EMR	D	-0.16%
WDC	C	-0.16%
ANET	C	-0.15%
KKR	B	-0.15%
PWR	B	-0.15%
PH	B	-0.15%
BAH	B	-0.15%
WBA	F	-0.15%
BRO	C	-0.14%
JNPR	A	-0.14%
CARR	B	-0.14%
STE	B	-0.13%
RMD	C	-0.13%
MAR	B	-0.13%
RSG	D	-0.13%
EVR	B	-0.13%
HWM	B	-0.13%
XYL	C	-0.12%
FTI	D	-0.12%
AOS	B	-0.12%
APO	B	-0.12%
CRS	C	-0.12%
RPM	B	-0.12%
IRM	C	-0.12%
YUM	B	-0.11%
ARES	B	-0.11%
GPK	C	-0.11%
CEG	C	-0.11%
URI	B	-0.11%
JKHY	B	-0.11%
APH	C	-0.11%
MRO	D	-0.11%
TOL	A	-0.11%
FAST	C	-0.11%
WELL	C	-0.11%
HRB	C	-0.1%
ERIE	B	-0.1%
HUBB	B	-0.1%
PNR	B	-0.1%
SLB	F	-0.1%
EFX	C	-0.1%
IR	B	-0.1%
AVY	C	-0.1%
DASH	B	-0.1%
LUMN	C	-0.1%
GDDY	C	-0.1%
NEM	C	-0.1%
FCX	C	-0.1%
PCAR	D	-0.09%
LECO	D	-0.09%
ALSN	B	-0.09%
LDOS	A	-0.09%
BWXT	A	-0.09%
AMP	B	-0.09%
ITW	B	-0.09%
HLT	B	-0.09%
ITT	B	-0.09%
RCL	B	-0.09%
CSX	C	-0.09%
MPWR	B	-0.09%
EA	D	-0.09%
ADP	C	-0.09%
IEX	C	-0.09%
NTAP	D	-0.09%
BDX	D	-0.09%
ADSK	B	-0.09%
CHRW	B	-0.09%
CW	B	-0.09%
AJG	D	-0.09%
TFC	D	-0.09%
EQH	C	-0.08%
TTWO	D	-0.08%
ROST	C	-0.08%
MSCI	C	-0.08%
TTC	F	-0.08%
SLG	C	-0.08%
EXR	C	-0.08%
TYL	C	-0.08%
BALL	C	-0.08%
MTD	C	-0.08%
DLR	B	-0.08%
ECL	B	-0.08%
FIS	C	-0.08%
DFS	C	-0.08%
WMB	C	-0.08%
EXP	B	-0.07%
SCI	C	-0.07%
MLM	D	-0.07%
SPGI	C	-0.07%
NSIT	C	-0.07%
GNTX	D	-0.07%
CHD	C	-0.07%
NWSA	D	-0.07%
COIN	F	-0.07%
NVR	B	-0.07%
VMC	C	-0.07%
GLPI	C	-0.07%
OTIS	B	-0.07%
FCN	C	-0.07%
ATR	B	-0.07%
LPLA	D	-0.07%
X	F	-0.07%
SUI	C	-0.06%
FDS	C	-0.06%
IBKR	B	-0.06%
DELL	C	-0.06%
CDW	D	-0.06%
ANSS	D	-0.06%
FTNT	B	-0.06%
FL	F	-0.06%
HCC	D	-0.06%
KD	F	-0.06%
FIX	B	-0.06%
MNST	D	-0.06%
SBUX	C	-0.06%
CHE	C	-0.06%
FLEX	B	-0.06%
CPT	C	-0.06%
MSM	D	-0.06%
KTB	B	-0.06%
PK	D	-0.06%
IDXX	D	-0.06%
INVH	D	-0.06%
MAS	B	-0.06%
ROP	C	-0.06%
INGR	B	-0.06%
TPX	B	-0.06%
MOG.A	B	-0.05%
ACM	B	-0.05%
STZ	C	-0.05%
WST	D	-0.05%
NDSN	C	-0.05%
GNRC	D	-0.05%
CLH	C	-0.05%
ATI	C	-0.05%
CUBE	C	-0.05%
ROL	C	-0.05%
WAB	B	-0.05%
WAT	B	-0.05%
APP	C	-0.05%
SMG	B	-0.05%
ATGE	C	-0.05%
WTW	B	-0.05%
ULTA	D	-0.05%
MAC	B	-0.05%
MTN	D	-0.05%
LOPE	D	-0.05%
CBT	B	-0.05%
WEN	C	-0.05%
SKYW	C	-0.05%
TXRH	B	-0.05%
VIRT	C	-0.05%
A	C	-0.05%
TW	B	-0.05%
LAMR	B	-0.05%
NYT	B	-0.05%
PTC	C	-0.05%
FCNCA	D	-0.05%
CPAY	B	-0.05%
POST	B	-0.05%
CCL	C	-0.05%
TDS	B	-0.04%
DBRG	D	-0.04%
TRN	C	-0.04%
TER	C	-0.04%
CVLT	B	-0.04%
PAYX	C	-0.04%
IFF	A	-0.04%
BLD	C	-0.04%
HBI	A	-0.04%
EME	B	-0.04%
MSA	D	-0.04%
PSA	C	-0.04%
JHG	B	-0.04%
ADBE	F	-0.04%
JWN	C	-0.04%
ACA	B	-0.04%
AVTR	C	-0.04%
APG	F	-0.04%
COLD	D	-0.04%
PSTG	F	-0.04%
FND	C	-0.04%
XPO	D	-0.04%
VC	F	-0.04%
CPNG	B	-0.04%
APLE	C	-0.04%
BAX	C	-0.04%
AMH	D	-0.04%
AROC	D	-0.04%
ELS	D	-0.04%
LW	D	-0.04%
GATX	D	-0.04%
VRSN	C	-0.04%
NBIX	F	-0.04%
HEI	C	-0.04%
SAIA	D	-0.04%
RL	B	-0.04%
RGLD	C	-0.04%
AES	C	-0.04%
ENTG	D	-0.04%
PINS	D	-0.04%
FLO	C	-0.04%
XRAY	D	-0.04%
HXL	F	-0.04%
PR	F	-0.04%
MAN	C	-0.04%
GVA	B	-0.04%
DCI	C	-0.04%
SRCL	B	-0.04%
FFIV	B	-0.04%
BLDR	C	-0.04%
THG	C	-0.04%
GGG	C	-0.04%
ZTS	B	-0.04%
PINC	D	-0.03%
AXTA	B	-0.03%
DRH	C	-0.03%
NTRS	C	-0.03%
NEU	D	-0.03%
VNT	F	-0.03%
NDAQ	C	-0.03%
COHR	C	-0.03%
ALGN	D	-0.03%
SHO	C	-0.03%
GEHC	B	-0.03%
COKE	C	-0.03%
AKAM	D	-0.03%
DRI	C	-0.03%
NVT	C	-0.03%
OKTA	F	-0.03%
FR	C	-0.03%
SBAC	C	-0.03%
RLI	B	-0.03%
SSD	C	-0.03%
VVV	D	-0.03%
BURL	C	-0.03%
DLTR	F	-0.03%
BRKR	D	-0.03%
YELP	D	-0.03%
BFAM	C	-0.03%
UDR	C	-0.03%
MC	C	-0.03%
AWI	B	-0.03%
WH	B	-0.03%
HOOD	C	-0.03%
MCO	C	-0.03%
EQIX	B	-0.03%
RPRX	C	-0.03%
GBX	D	-0.03%
MORN	C	-0.03%
WTS	C	-0.03%
DLB	D	-0.03%
HOLX	D	-0.03%
DOX	C	-0.03%
MANH	B	-0.03%
LAUR	C	-0.02%
OLLI	C	-0.02%
BHE	C	-0.02%
BMRN	F	-0.02%
TTEK	C	-0.02%
SCS	D	-0.02%
ODFL	D	-0.02%
CSL	B	-0.02%
SATS	C	-0.02%
VFC	B	-0.02%
NWL	C	-0.02%
CHDN	D	-0.02%
LEG	D	-0.02%
BXP	C	-0.02%
OSIS	C	-0.02%
HST	D	-0.02%
SAM	D	-0.02%
IGT	D	-0.02%
GWRE	B	-0.02%
CC	D	-0.02%
SNAP	D	-0.02%
PMT	C	-0.02%
NTCT	C	-0.02%
SXT	B	-0.02%
KBR	D	-0.02%
NSP	F	-0.02%
AIT	B	-0.02%
VSTO	C	-0.02%
PSN	B	-0.02%
MKTX	D	-0.02%
FLS	C	-0.02%
GMED	D	-0.02%
HAE	D	-0.02%
WMS	D	-0.02%
CTLT	B	-0.02%
KMPR	D	-0.02%
ORA	B	-0.02%
PFSI	C	-0.02%
LNW	F	-0.02%
AIR	D	-0.02%
AA	C	-0.02%
EXEL	C	-0.02%
TDC	D	-0.02%
MASI	C	-0.02%
CG	C	-0.02%
QRVO	F	-0.01%
LYFT	D	-0.01%
ACI	F	-0.01%
MKSI	F	-0.01%
ESI	C	-0.01%
SCCO	C	-0.01%
SWN	C	-0.01%
TPR	A	-0.01%
ECPG	D	-0.01%
ELAN	D	-0.01%
HUN	C	-0.01%
SYNA	D	-0.01%
PECO	C	-0.01%
AMED	D	-0.01%
ESAB	C	-0.01%
FLR	D	-0.01%
LVS	C	-0.01%
BRC	B	-0.01%
CNM	F	-0.01%
FELE	B	-0.01%
TTMI	D	-0.01%
DY	C	-0.01%
CBSH	D	-0.01%
CR	B	-0.01%
CPRI	D	-0.01%
SF	B	-0.01%
WWD	C	-0.01%
RBC	B	-0.01%
H	B	-0.01%
TREX	F	-0.01%
LADR	D	-0.01%
GOLF	F	-0.01%
MHK	B	-0.01%
AMWD	C	-0.01%
IOSP	F	-0.01%
TNET	F	-0.01%
NOMD	C	-0.0%
WOLF	F	-0.0%