FAB vs. QVMM ETF Comparison

Comparison of First Trust Multi Cap Value AlphaDEX Fund (FAB) to Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM)

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

$88.95

Average Daily Volume

2,527

Number of Holdings ^*

665

* may have additional holdings in another (foreign) market

QVMM

Invesco S&P MidCap 400 QVM Multi-factor ETF

QVMM Description

The investment seeks to track the investment results of the S&P MidCap 400 ® Quality, Value & Momentum Top 90% Multi- Factor Index (the “underlying index”). The fund will invest at least 90% of its total assets in the securities that comprise the index. S&P Dow Jones Indices LLC compiles, maintains and calculates the index, which is designed to track the performance of a subset of securities from the S&P MidCap 400 ® Index that exhibit the investment style criteria of quality, value and momentum. The index is composed of securities with multi-factor scores representing the top 90% of the parent index, as determined by the index provider. It is non-diversified.

Grade (RS Rating)

Last Trade

$30.95

Average Daily Volume

1,061

Number of Holdings ^*

352

* may have additional holdings in another (foreign) market

Performance

Period	FAB	QVMM
30 Days	6.40%	7.21%
60 Days	5.80%	7.30%
90 Days	6.32%	8.34%
12 Months	27.56%	33.49%

149 Overlapping Holdings

	Symbol	Grade	Weight in FAB	Weight in QVMM	Overlap
	AFG	A	0.05%	0.33%	0.05%
	AGCO	D	0.08%	0.2%	0.08%
	ALLY	C	0.36%	0.46%	0.36%
	AMG	B	0.23%	0.22%	0.22%
	AMKR	D	0.15%	0.1%	0.1%
	AN	C	0.12%	0.16%	0.12%
	AR	B	0.09%	0.32%	0.09%
	ARW	D	0.15%	0.23%	0.15%
	ASB	B	0.06%	0.15%	0.06%
	ASGN	F	0.08%	0.16%	0.08%
	ASH	D	0.12%	0.15%	0.12%
	AVNT	B	0.04%	0.18%	0.04%
	AVT	C	0.17%	0.18%	0.17%
	BC	C	0.12%	0.2%	0.12%
	BERY	B	0.14%	0.28%	0.14%
	BHF	B	0.03%	0.12%	0.03%
	BJ	A	0.05%	0.42%	0.05%
	BKH	A	0.18%	0.15%	0.15%
	BYD	C	0.15%	0.18%	0.15%
	CADE	B	0.21%	0.26%	0.21%
	CHRD	D	0.22%	0.32%	0.22%
	CIVI	D	0.22%	0.19%	0.19%
	CLF	F	0.15%	0.22%	0.15%
	CMC	B	0.23%	0.27%	0.23%
	CNO	A	0.19%	0.16%	0.16%
	CNX	A	0.25%	0.21%	0.21%
	CNXC	F	0.17%	0.07%	0.07%
	COLB	A	0.15%	0.24%	0.15%
	COLM	B	0.09%	0.1%	0.09%
	CRI	D	0.06%	0.07%	0.06%
	CUZ	B	0.09%	0.16%	0.09%
	CXT	B	0.05%	0.1%	0.05%
	DAR	C	0.19%	0.28%	0.19%
	DINO	D	0.21%	0.25%	0.21%
	ENOV	C	0.05%	0.09%	0.05%
	ENS	D	0.12%	0.15%	0.12%
	ESNT	D	0.19%	0.22%	0.19%
	FAF	A	0.04%	0.23%	0.04%
	FBIN	D	0.04%	0.33%	0.04%
	FHI	A	0.06%	0.12%	0.06%
	FHN	A	0.17%	0.42%	0.17%
	FLR	B	0.05%	0.34%	0.05%
	FNB	A	0.15%	0.23%	0.15%
	FNF	B	0.17%	0.57%	0.17%
	G	B	0.2%	0.27%	0.2%
	GEF	A	0.13%	0.06%	0.06%
	GHC	C	0.11%	0.12%	0.11%
	GT	C	0.13%	0.11%	0.11%
	GXO	B	0.05%	0.26%	0.05%
	HGV	B	0.1%	0.11%	0.1%
	HOG	D	0.18%	0.15%	0.15%
	HWC	B	0.1%	0.2%	0.1%
	IDA	A	0.1%	0.2%	0.1%
	INGR	B	0.14%	0.34%	0.14%
	IPGP	D	0.07%	0.08%	0.07%
	JAZZ	B	0.19%	0.3%	0.19%
	JEF	A	0.05%	0.47%	0.05%
	JWN	C	0.09%	0.08%	0.08%
	KBH	D	0.16%	0.21%	0.16%
	KNX	B	0.09%	0.33%	0.09%
	KRC	C	0.18%	0.15%	0.15%
	LAD	A	0.2%	0.41%	0.2%
	LEA	D	0.19%	0.22%	0.19%
	LFUS	F	0.04%	0.24%	0.04%
	LPX	B	0.09%	0.26%	0.09%
	LSTR	D	0.04%	0.24%	0.04%
	M	D	0.17%	0.16%	0.16%
	MAT	D	0.04%	0.24%	0.04%
	MIDD	C	0.08%	0.28%	0.08%
	MMS	F	0.07%	0.19%	0.07%
	MSM	C	0.09%	0.15%	0.09%
	MTDR	B	0.26%	0.27%	0.26%
	MTG	C	0.21%	0.24%	0.21%
	MUR	D	0.21%	0.19%	0.19%
	MUSA	A	0.05%	0.35%	0.05%
	NFG	A	0.17%	0.19%	0.17%
	NJR	A	0.04%	0.16%	0.04%
	NOV	C	0.22%	0.25%	0.22%
	NSP	D	0.04%	0.1%	0.04%
	NWE	A	0.1%	0.12%	0.1%
	NXST	C	0.13%	0.19%	0.13%
	OC	A	0.39%	0.63%	0.39%
	OGE	B	0.13%	0.29%	0.13%
	OGS	A	0.13%	0.14%	0.13%
	OLN	D	0.11%	0.19%	0.11%
	OPCH	D	0.03%	0.13%	0.03%
	ORI	A	0.09%	0.35%	0.09%
	OSK	B	0.24%	0.28%	0.24%
	OVV	B	0.25%	0.44%	0.25%
	OZK	B	0.19%	0.19%	0.19%
	PAG	B	0.13%	0.13%	0.13%
	PB	A	0.1%	0.28%	0.1%
	PBF	D	0.22%	0.13%	0.13%
	PFGC	B	0.05%	0.49%	0.05%
	PII	D	0.1%	0.14%	0.1%
	PK	B	0.13%	0.12%	0.12%
	PNFP	B	0.05%	0.37%	0.05%
	PNM	F	0.09%	0.15%	0.09%
	POR	C	0.17%	0.17%	0.17%
	POST	C	0.12%	0.19%	0.12%
	PRGO	B	0.04%	0.14%	0.04%
	PVH	C	0.22%	0.22%	0.22%
	R	B	0.2%	0.28%	0.2%
	RGA	A	0.18%	0.56%	0.18%
	RNR	C	0.2%	0.48%	0.2%
	RRC	B	0.19%	0.29%	0.19%
	RS	B	0.47%	0.66%	0.47%
	RYN	D	0.04%	0.14%	0.04%
	SAM	C	0.03%	0.1%	0.03%
	SEIC	B	0.1%	0.29%	0.1%
	SKX	D	0.08%	0.3%	0.08%
	SLGN	A	0.09%	0.16%	0.09%
	SLM	A	0.09%	0.2%	0.09%
	SNX	C	0.12%	0.35%	0.12%
	SON	D	0.12%	0.18%	0.12%
	SR	A	0.17%	0.14%	0.14%
	SSB	B	0.05%	0.3%	0.05%
	STWD	C	0.04%	0.22%	0.04%
	SWX	B	0.13%	0.17%	0.13%
	SYNA	C	0.05%	0.12%	0.05%
	TCBI	B	0.03%	0.14%	0.03%
	TEX	D	0.21%	0.14%	0.14%
	THO	B	0.13%	0.23%	0.13%
	TKR	D	0.08%	0.18%	0.08%
	TMHC	B	0.22%	0.27%	0.22%
	TOL	B	0.43%	0.59%	0.43%
	TTC	D	0.04%	0.34%	0.04%
	UBSI	B	0.1%	0.21%	0.1%
	UFPI	B	0.09%	0.31%	0.09%
	UGI	A	0.2%	0.18%	0.18%
	UMBF	B	0.05%	0.19%	0.05%
	UNM	A	0.21%	0.47%	0.21%
	VAC	B	0.13%	0.12%	0.12%
	VC	D	0.12%	0.1%	0.1%
	VLY	B	0.14%	0.16%	0.14%
	VNT	B	0.1%	0.24%	0.1%
	VOYA	B	0.04%	0.27%	0.04%
	VSH	D	0.11%	0.08%	0.08%
	WBS	A	0.17%	0.39%	0.17%
	WCC	B	0.16%	0.34%	0.16%
	WHR	B	0.14%	0.23%	0.14%
	WLK	D	0.15%	0.15%	0.15%
	WPC	D	0.08%	0.41%	0.08%
	WTFC	A	0.1%	0.32%	0.1%
	WTRG	B	0.09%	0.34%	0.09%
	WTS	B	0.04%	0.21%	0.04%
	WU	D	0.11%	0.13%	0.11%
	YETI	C	0.05%	0.12%	0.05%
	ZION	B	0.16%	0.34%	0.16%

FAB Overweight 516 Positions Relative to QVMM

	Symbol	Grade	Weight
	UAL	A	0.7%
	SYF	B	0.57%
	DAL	C	0.56%
	GM	B	0.56%
	PCAR	B	0.51%
	FOXA	B	0.49%
	STLD	B	0.48%
	CVX	A	0.48%
	CINF	A	0.48%
	TROW	B	0.48%
	EOG	A	0.48%
	COP	C	0.47%
	HPE	B	0.46%
	F	C	0.46%
	CTRA	B	0.46%
	XOM	B	0.45%
	WFC	A	0.45%
	AIG	B	0.45%
	HAL	C	0.45%
	VLO	C	0.45%
	CMCSA	B	0.45%
	DVN	F	0.44%
	T	A	0.44%
	NUE	C	0.43%
	COF	B	0.43%
	OXY	D	0.43%
	PSX	C	0.43%
	HBAN	A	0.42%
	KMI	A	0.42%
	MPC	D	0.42%
	EG	C	0.41%
	EQT	B	0.41%
	LNG	B	0.41%
	LEN	D	0.4%
	CFG	B	0.4%
	BG	F	0.4%
	ETR	B	0.39%
	PHM	D	0.39%
	LYB	F	0.38%
	SRE	A	0.38%
	VTRS	A	0.38%
	C	A	0.38%
	CVS	D	0.38%
	ADM	D	0.38%
	CTSH	B	0.37%
	CRBG	B	0.37%
	L	A	0.37%
	XEL	A	0.37%
	FANG	D	0.37%
	INTC	D	0.37%
	FDX	B	0.37%
	CNP	B	0.36%
	AEE	A	0.36%
	KR	B	0.36%
	SLB	C	0.36%
	ATO	A	0.36%
	HIG	B	0.35%
	CB	C	0.35%
	CF	B	0.35%
	ZBH	C	0.35%
	APTV	D	0.33%
	EXC	C	0.33%
	SNA	A	0.32%
	VZ	C	0.32%
	DG	F	0.32%
	ED	D	0.32%
	ON	D	0.32%
	MS	A	0.32%
	MTB	A	0.31%
	CHTR	C	0.31%
	BAC	A	0.3%
	SWKS	F	0.3%
	IP	B	0.3%
	DHI	D	0.3%
	BKR	B	0.3%
	RF	A	0.29%
	TDY	B	0.28%
	LUV	C	0.28%
	TRV	B	0.28%
	USB	A	0.28%
	FITB	A	0.28%
	NI	A	0.27%
	STT	A	0.27%
	CNC	D	0.27%
	PPL	B	0.26%
	DGX	A	0.26%
	TXT	D	0.25%
	AGO	B	0.25%
	D	C	0.25%
	NOG	A	0.25%
	LNT	A	0.25%
	AFL	B	0.25%
	EQR	B	0.25%
	ULTA	F	0.25%
	TGT	F	0.25%
	DTE	C	0.24%
	JXN	C	0.24%
	CE	F	0.24%
	BLDR	D	0.24%
	SM	B	0.24%
	HP	B	0.24%
	DE	A	0.24%
	EBAY	D	0.24%
	HRL	D	0.24%
	DUK	C	0.24%
	SYY	B	0.24%
	BBY	D	0.23%
	STX	D	0.23%
	RJF	A	0.23%
	KHC	F	0.23%
	ATKR	C	0.23%
	PTEN	C	0.23%
	AL	B	0.23%
	AEP	D	0.23%
	TAP	C	0.23%
	AMR	C	0.22%
	BIIB	F	0.22%
	NFE	D	0.22%
	URBN	C	0.22%
	AKAM	D	0.22%
	HCC	B	0.22%
	OKE	A	0.21%
	ZM	B	0.21%
	DOW	F	0.21%
	CXW	B	0.21%
	RDN	C	0.21%
	LBRT	D	0.2%
	PNC	B	0.2%
	DIS	B	0.2%
	RIOT	C	0.2%
	MATX	C	0.2%
	APA	D	0.2%
	KEY	B	0.2%
	RUSHA	C	0.2%
	LBRDK	C	0.2%
	TPH	D	0.2%
	BWA	D	0.2%
	KIM	A	0.19%
	JBHT	C	0.19%
	TSN	B	0.19%
	CSCO	B	0.19%
	MTH	D	0.19%
	NWSA	B	0.19%
	PKG	A	0.19%
	LNC	B	0.19%
	MGY	A	0.19%
	DDS	B	0.19%
	MHO	D	0.19%
	OTTR	C	0.18%
	GBDC	C	0.18%
	HRI	B	0.18%
	PNW	B	0.18%
	HPQ	A	0.18%
	ADTN	A	0.18%
	DRI	B	0.18%
	DXC	B	0.18%
	CSX	B	0.18%
	COOP	B	0.18%
	FMC	D	0.18%
	PRU	A	0.18%
	ASO	F	0.18%
	AAP	C	0.18%
	BEN	C	0.18%
	GPI	A	0.18%
	CMS	C	0.17%
	NVR	D	0.17%
	SOLV	C	0.17%
	BBWI	D	0.17%
	MOS	F	0.17%
	HST	C	0.17%
	BCC	B	0.17%
	EVRG	A	0.17%
	WEC	A	0.17%
	SSNC	B	0.17%
	MOH	F	0.16%
	KDP	D	0.16%
	HUM	C	0.16%
	MDU	D	0.16%
	ARE	D	0.16%
	BMBL	D	0.16%
	SUM	B	0.16%
	FE	C	0.16%
	GBX	A	0.16%
	DOC	D	0.16%
	CARR	D	0.16%
	PPG	F	0.16%
	HSY	F	0.16%
	SIG	B	0.16%
	JNJ	D	0.16%
	EIX	B	0.16%
	SANM	B	0.15%
	CTOS	C	0.15%
	ECVT	C	0.15%
	CUBI	B	0.15%
	BFH	B	0.15%
	JBT	B	0.15%
	OMF	A	0.15%
	ALK	C	0.15%
	UHS	D	0.15%
	GIS	D	0.15%
	HTZ	C	0.15%
	GPC	D	0.15%
	RIG	D	0.14%
	ELV	F	0.14%
	KMT	B	0.14%
	EIG	B	0.14%
	AXS	A	0.14%
	JBL	B	0.14%
	TALO	C	0.14%
	DNOW	B	0.14%
	ULH	B	0.14%
	PINC	B	0.14%
	ABG	B	0.14%
	GMS	B	0.14%
	TGNA	B	0.14%
	VTLE	C	0.14%
	CABO	C	0.14%
	REZI	A	0.13%
	LKQ	D	0.13%
	GIII	D	0.13%
	WS	B	0.13%
	BTU	B	0.13%
	KOS	F	0.13%
	CRGY	B	0.13%
	SPNT	A	0.13%
	IART	C	0.13%
	APLE	B	0.13%
	RLJ	B	0.13%
	TDS	B	0.13%
	GPOR	B	0.13%
	HELE	C	0.13%
	GL	B	0.13%
	RES	D	0.12%
	EMN	D	0.12%
	BY	B	0.12%
	ZD	B	0.12%
	PEBO	A	0.12%
	PRDO	B	0.12%
	SJM	D	0.12%
	AVA	A	0.12%
	TRMK	B	0.12%
	EPC	D	0.12%
	INDB	B	0.12%
	IMKTA	C	0.12%
	SHO	C	0.12%
	PARR	D	0.12%
	PLAB	C	0.12%
	INVA	D	0.12%
	UVV	B	0.12%
	AEO	F	0.11%
	MRC	B	0.11%
	CCS	D	0.11%
	WMK	C	0.11%
	SEB	F	0.11%
	KSS	F	0.11%
	SAH	A	0.11%
	DBRG	F	0.11%
	WKC	D	0.11%
	USM	B	0.11%
	PHIN	A	0.11%
	EBC	B	0.11%
	FOR	F	0.11%
	CAL	D	0.11%
	FFBC	A	0.11%
	HII	D	0.1%
	CMI	A	0.1%
	ODFL	B	0.1%
	CRC	A	0.1%
	ABCB	B	0.1%
	ABR	C	0.1%
	OEC	C	0.1%
	MLKN	D	0.1%
	NAVI	C	0.1%
	PRG	C	0.1%
	EQC	B	0.1%
	NWN	A	0.1%
	LZB	B	0.1%
	BV	B	0.1%
	CENTA	C	0.1%
	LADR	B	0.1%
	BECN	B	0.1%
	CMA	A	0.1%
	SBH	C	0.1%
	GEO	B	0.1%
	CVI	F	0.1%
	SCSC	B	0.1%
	VSCO	B	0.1%
	HOV	D	0.1%
	DRH	B	0.1%
	CMCO	B	0.1%
	OGN	D	0.1%
	AMWD	C	0.1%
	GES	F	0.1%
	MLI	C	0.1%
	HD	A	0.09%
	FRME	B	0.09%
	PFG	D	0.09%
	TNET	D	0.09%
	FIVE	F	0.09%
	CRL	C	0.09%
	PFBC	B	0.09%
	OMC	C	0.09%
	CLX	B	0.09%
	SBUX	A	0.09%
	ACN	C	0.09%
	ALKS	B	0.09%
	KFY	B	0.09%
	WSBC	B	0.09%
	CATY	B	0.09%
	CRK	B	0.09%
	SASR	B	0.09%
	CASH	A	0.09%
	LHX	C	0.09%
	BNL	D	0.09%
	PDCO	D	0.09%
	WRB	A	0.09%
	PLYA	B	0.09%
	ADNT	F	0.09%
	BANR	B	0.09%
	APD	A	0.09%
	LH	C	0.09%
	IEX	B	0.09%
	J	F	0.09%
	CVBF	A	0.09%
	ANDE	D	0.09%
	AIZ	A	0.09%
	PYPL	B	0.09%
	ACA	A	0.09%
	VSTS	C	0.09%
	BOKF	B	0.09%
	HIW	D	0.09%
	BUSE	B	0.08%
	ARCB	C	0.08%
	MDLZ	F	0.08%
	MODG	F	0.08%
	WERN	C	0.08%
	WGO	C	0.08%
	AWK	D	0.08%
	REYN	D	0.08%
	MCRI	A	0.08%
	CPB	D	0.08%
	WY	D	0.08%
	PTVE	B	0.08%
	LMT	D	0.08%
	EXPD	D	0.08%
	SNDR	B	0.08%
	ALG	B	0.08%
	DAN	D	0.08%
	HOPE	B	0.08%
	DD	D	0.08%
	FIBK	A	0.08%
	CI	F	0.08%
	IPG	D	0.08%
	FCF	A	0.08%
	SRCE	B	0.08%
	MAS	D	0.08%
	HUBG	A	0.08%
	NX	C	0.08%
	XRX	F	0.08%
	LAUR	A	0.08%
	HOLX	D	0.08%
	BKE	B	0.08%
	MDT	D	0.08%
	FTV	C	0.08%
	BKU	A	0.08%
	TCBK	B	0.08%
	VBTX	B	0.08%
	KALU	C	0.08%
	KEYS	A	0.08%
	GD	F	0.08%
	WSFS	A	0.08%
	PEP	F	0.08%
	HY	D	0.08%
	RNST	B	0.08%
	UPS	C	0.08%
	CTVA	C	0.08%
	NDSN	B	0.08%
	SFNC	B	0.08%
	MAA	B	0.08%
	EFSC	B	0.08%
	VRTS	B	0.08%
	FULT	A	0.08%
	LOW	D	0.08%
	TTMI	B	0.07%
	LC	A	0.07%
	LILAK	D	0.07%
	SJW	D	0.07%
	PEB	D	0.07%
	MRTN	C	0.07%
	CAG	D	0.07%
	SPB	C	0.07%
	UNF	B	0.07%
	NKE	D	0.07%
	KLG	C	0.07%
	DIOD	D	0.07%
	XHR	B	0.07%
	UHAL	D	0.07%
	SBCF	A	0.06%
	GOGO	C	0.06%
	FBNC	A	0.06%
	CSGS	B	0.06%
	AMN	F	0.06%
	PBH	A	0.06%
	OMI	F	0.06%
	KAR	B	0.06%
	DFH	D	0.06%
	NIC	B	0.06%
	SNEX	B	0.06%
	HMN	B	0.06%
	FHB	A	0.06%
	CAR	C	0.06%
	GRBK	D	0.06%
	SCVL	F	0.06%
	VSAT	F	0.06%
	SSTK	F	0.06%
	LGIH	D	0.06%
	WAL	B	0.05%
	ROG	D	0.05%
	PATK	D	0.05%
	ALIT	C	0.05%
	DFIN	D	0.05%
	SEM	B	0.05%
	DEA	D	0.05%
	DNB	B	0.05%
	SHEN	F	0.05%
	THRM	D	0.05%
	LCII	C	0.05%
	PSMT	C	0.05%
	UCB	A	0.05%
	RHI	B	0.05%
	AUB	B	0.05%
	OFG	B	0.05%
	SCL	C	0.05%
	ARI	C	0.05%
	ALEX	C	0.05%
	LNN	B	0.05%
	KWR	C	0.05%
	HTH	B	0.05%
	STBA	B	0.05%
	DK	C	0.05%
	ROCK	C	0.05%
	GO	C	0.05%
	ABM	B	0.05%
	MTX	B	0.05%
	WAFD	B	0.05%
	TOWN	B	0.05%
	EPAM	C	0.05%
	TPR	B	0.05%
	HLF	C	0.05%
	IOSP	B	0.05%
	BHE	B	0.05%
	NWBI	B	0.05%
	UPWK	B	0.04%
	MYRG	B	0.04%
	IAC	D	0.04%
	FOXF	F	0.04%
	HSIC	B	0.04%
	AVNS	F	0.04%
	CZR	F	0.04%
	WD	D	0.04%
	FUL	F	0.04%
	BPOP	B	0.04%
	MGM	D	0.04%
	SEE	C	0.04%
	ODP	F	0.04%
	IVZ	B	0.04%
	FELE	B	0.04%
	SKY	A	0.04%
	AIR	B	0.03%
	HAYW	B	0.03%
	SAFT	C	0.03%
	MTRN	C	0.03%
	XPEL	C	0.03%
	DEI	B	0.03%
	HLIO	B	0.03%
	GNW	A	0.03%
	IVT	B	0.03%
	CVCO	A	0.03%
	PPBI	B	0.03%
	ROIC	A	0.03%
	NBTB	B	0.03%
	FDP	B	0.03%
	BHLB	B	0.03%
	PFS	B	0.03%
	CBU	B	0.03%
	FBK	B	0.03%
	MCW	B	0.03%
	MGPI	F	0.03%
	OLPX	D	0.02%
	BLMN	F	0.02%
	PLUS	F	0.02%
	GIC	D	0.02%
	GPRE	F	0.02%
	JBGS	D	0.02%
	OXM	D	0.02%
	CWEN	C	0.02%
	SHOO	D	0.02%
	AIN	C	0.02%
	MSGE	F	0.02%
	LXP	D	0.02%
	RC	D	0.02%
	CMTG	F	0.02%
	SHLS	F	0.02%
	CNXN	C	0.02%
	CC	C	0.02%
	NVEE	F	0.02%
	KFRC	D	0.02%
	NNI	D	0.02%
	STC	B	0.02%
	NMRK	B	0.02%
	CNMD	C	0.02%
	OI	C	0.02%
	MSEX	B	0.02%
	UPBD	B	0.02%
	EVTC	B	0.02%
	PGRE	F	0.02%

FAB Underweight 203 Positions Relative to QVMM

	Symbol	Grade	Weight
	TPL	A	-0.99%
	EME	C	-0.84%
	CSL	C	-0.8%
	LII	A	-0.73%
	IBKR	A	-0.71%
	XPO	B	-0.68%
	UTHR	C	-0.64%
	RPM	A	-0.61%
	BURL	A	-0.61%
	RBA	A	-0.61%
	WSO	A	-0.61%
	MANH	D	-0.6%
	FIX	A	-0.59%
	THC	D	-0.59%
	WSM	B	-0.59%
	PSTG	D	-0.58%
	EQH	B	-0.56%
	EWBC	A	-0.55%
	USFD	A	-0.54%
	ACM	B	-0.54%
	GGG	B	-0.54%
	CASY	A	-0.52%
	SFM	A	-0.52%
	CW	B	-0.51%
	COHR	B	-0.49%
	TXRH	C	-0.49%
	AVTR	F	-0.49%
	DKS	C	-0.47%
	GLPI	C	-0.47%
	ITT	A	-0.47%
	BMRN	D	-0.47%
	CLH	B	-0.46%
	NBIX	C	-0.46%
	RRX	B	-0.46%
	LECO	B	-0.46%
	NVT	B	-0.46%
	SAIA	B	-0.45%
	BLD	D	-0.44%
	SF	B	-0.44%
	BWXT	B	-0.44%
	JLL	D	-0.44%
	SCI	B	-0.43%
	ATR	B	-0.42%
	AMH	D	-0.42%
	FND	C	-0.41%
	CACI	D	-0.4%
	LAMR	D	-0.4%
	KNSL	B	-0.4%
	DUOL	A	-0.4%
	EVR	B	-0.39%
	TTEK	F	-0.39%
	EXP	A	-0.38%
	PRI	A	-0.38%
	AIT	A	-0.38%
	CIEN	B	-0.38%
	AA	B	-0.38%
	CCK	C	-0.38%
	CUBE	D	-0.37%
	WWD	B	-0.37%
	DTM	B	-0.36%
	TPX	B	-0.36%
	AYI	B	-0.36%
	EHC	B	-0.36%
	EXEL	B	-0.35%
	HLI	B	-0.35%
	WING	D	-0.34%
	GMED	A	-0.34%
	DCI	B	-0.34%
	OHI	C	-0.34%
	WMS	D	-0.34%
	ARMK	B	-0.34%
	NYT	C	-0.33%
	CHDN	B	-0.33%
	RGLD	C	-0.33%
	AAON	B	-0.33%
	AXTA	A	-0.33%
	CFR	B	-0.33%
	RBC	A	-0.33%
	GPK	C	-0.32%
	BRBR	A	-0.32%
	PCTY	B	-0.32%
	CR	A	-0.32%
	MORN	B	-0.32%
	KBR	F	-0.32%
	REXR	F	-0.32%
	X	C	-0.32%
	MTZ	B	-0.31%
	SNV	B	-0.31%
	CHE	D	-0.31%
	HQY	B	-0.31%
	CNM	D	-0.31%
	ONTO	D	-0.31%
	CBSH	A	-0.31%
	PR	B	-0.3%
	FLS	B	-0.3%
	BRX	A	-0.3%
	SSD	D	-0.29%
	HRB	D	-0.29%
	ANF	C	-0.29%
	EGP	F	-0.29%
	GME	C	-0.29%
	MEDP	D	-0.29%
	LNW	D	-0.29%
	KEX	C	-0.28%
	WH	B	-0.28%
	CVLT	B	-0.28%
	TREX	C	-0.27%
	RGEN	D	-0.27%
	ESAB	B	-0.27%
	ALV	C	-0.27%
	ADC	B	-0.26%
	VMI	B	-0.26%
	CGNX	C	-0.26%
	MASI	A	-0.26%
	LSCC	D	-0.26%
	HALO	F	-0.26%
	NNN	D	-0.26%
	H	B	-0.26%
	MTSI	B	-0.26%
	ONB	B	-0.26%
	RYAN	B	-0.26%
	EXLS	B	-0.26%
	GNTX	C	-0.26%
	WEX	D	-0.26%
	FR	D	-0.25%
	GBCI	B	-0.25%
	WFRD	D	-0.25%
	FCN	D	-0.25%
	RLI	B	-0.25%
	KD	B	-0.24%
	STAG	F	-0.24%
	MSA	D	-0.24%
	CROX	D	-0.24%
	OLED	D	-0.24%
	DOCS	C	-0.23%
	CHX	C	-0.23%
	NOVT	D	-0.23%
	VNO	B	-0.23%
	FYBR	D	-0.22%
	RMBS	C	-0.22%
	ALTR	B	-0.22%
	CBT	C	-0.22%
	SIGI	C	-0.22%
	JHG	A	-0.22%
	SAIC	F	-0.22%
	VVV	F	-0.21%
	KRG	B	-0.21%
	THG	A	-0.21%
	HOMB	A	-0.21%
	COKE	C	-0.21%
	QLYS	C	-0.2%
	BRKR	D	-0.2%
	GATX	A	-0.2%
	CRUS	D	-0.2%
	LNTH	D	-0.2%
	KNF	A	-0.19%
	AM	A	-0.19%
	GAP	B	-0.19%
	BDC	B	-0.19%
	FFIN	B	-0.19%
	ST	F	-0.19%
	LOPE	B	-0.18%
	APPF	B	-0.18%
	EXPO	D	-0.18%
	HXL	D	-0.18%
	OLLI	D	-0.18%
	IRT	A	-0.17%
	WMG	C	-0.17%
	HAE	C	-0.17%
	EEFT	B	-0.17%
	DLB	B	-0.16%
	KMPR	B	-0.16%
	CELH	F	-0.16%
	FLO	D	-0.15%
	ORA	B	-0.15%
	UAA	C	-0.15%
	BCO	D	-0.15%
	NEU	C	-0.14%
	ROIV	C	-0.14%
	ACHC	F	-0.14%
	SBRA	C	-0.14%
	IBOC	A	-0.14%
	TNL	A	-0.14%
	NVST	B	-0.13%
	LANC	C	-0.13%
	SLAB	D	-0.13%
	ALE	A	-0.13%
	XRAY	F	-0.13%
	EPR	D	-0.12%
	PCH	D	-0.12%
	CDP	C	-0.12%
	VAL	D	-0.12%
	LIVN	F	-0.11%
	ZI	D	-0.11%
	WEN	D	-0.11%
	MAN	D	-0.11%
	NEOG	F	-0.11%
	RCM	F	-0.1%
	COTY	F	-0.1%
	NSA	D	-0.1%
	AZTA	D	-0.09%
	PPC	C	-0.08%
	CPRI	F	-0.07%

FAB: Top Represented Industries & Keywords

Industries: Banks - Regional - US Oil & Gas E&P Utilities - Regulated Electric Residential Construction Specialty Retail Asset Management REIT - Diversified Specialty Chemicals Packaged Foods Packaging & Containers Auto Parts Building Materials Credit Services Diversified Industrials Utilities - Regulated Gas Insurance - Property & Casualty Rental & Leasing Services Utilities - Diversified Insurance - Life Oil & Gas Equipment & Services

Keywords: S&P 500 Bank Banking Natural Gas Insurance Deposit Products Electricity Commercial Banking Chemical Mining Real Estate Investment Trust Insurance Products Transport Electronics Nasdaq 100 Building Materials Commercial Bank Real Estate Loans Clothing Investment Management

QVMM: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Business Services Oil & Gas E&P Biotechnology Packaging & Containers Software - Application Specialty Chemicals Building Materials Engineering & Construction Asset Management Packaged Foods REIT - Diversified REIT - Industrial Semiconductors Apparel Manufacturing Insurance - Property & Casualty Medical Care REIT - Retail Scientific & Technical Instruments

Keywords: Bank Banking Mining Natural Gas Chemical Insurance Real Estate Investment Trust Electronics Aerospace Semiconductor Construction Beverage Deposit Products Supply Chain Management Commercial Banking Building Materials Computing Insurance Products Telecommunications Electricity