FAB vs. SHUS ETF Comparison

Comparison of First Trust Multi Cap Value AlphaDEX Fund (FAB) to Syntax Stratified U.S. Total Market Hedged ETF (SHUS)

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

$90.27

Average Daily Volume

2,527

Number of Holdings ^*

665

* may have additional holdings in another (foreign) market

SHUS

Syntax Stratified U.S. Total Market Hedged ETF

SHUS Description

The investment seeks to obtain capital growth that meets or exceeds the performance of the S&P Composite 1500® Index over a full market cycle by investing in ETFs or underlying securities that provide Stratified WeightTM U.S. total equity market exposure to companies in the 1500 while seeking risk-managed growth via a defined risk hedging process. The fund will also invest in index options for risk management purposes and to seek to generate additional returns. Syntax?s Stratified Weight? is designed to correct for business risk concentrations that regularly occur in cap-weighted indices and equal-weighted indices.

Grade (RS Rating)

Last Trade

$44.29

Average Daily Volume

2,444

Number of Holdings ^*

500

* may have additional holdings in another (foreign) market

Performance

Period	FAB	SHUS
30 Days	6.40%	2.26%
60 Days	5.80%	3.81%
90 Days	6.32%	5.24%
12 Months	27.56%	15.89%

202 Overlapping Holdings

Symbol	Grade	Weight in FAB	Weight in SHUS	Overlap
ACN	C	0.09%	0.13%	0.09%
ADM	D	0.39%	0.36%	0.36%
AEE	A	0.37%	0.08%	0.08%
AEP	D	0.24%	0.24%	0.24%
AFL	B	0.25%	0.2%	0.2%
AIG	B	0.45%	0.19%	0.19%
AIZ	A	0.1%	0.2%	0.1%
AKAM	D	0.22%	0.26%	0.22%
APA	D	0.2%	0.07%	0.07%
APD	A	0.09%	0.05%	0.05%
APTV	D	0.32%	0.39%	0.32%
ARE	D	0.15%	0.1%	0.1%
ATO	A	0.37%	0.32%	0.32%
AWK	D	0.08%	0.32%	0.08%
BAC	A	0.3%	0.12%	0.12%
BBWI	D	0.17%	0.19%	0.17%
BBY	D	0.22%	0.17%	0.17%
BEN	C	0.19%	0.08%	0.08%
BG	F	0.4%	0.36%	0.36%
BIIB	F	0.21%	0.24%	0.21%
BKR	B	0.31%	0.35%	0.31%
BLDR	D	0.23%	0.19%	0.19%
BWA	D	0.2%	0.41%	0.2%
C	A	0.38%	0.13%	0.13%
CAG	D	0.07%	0.21%	0.07%
CARR	D	0.16%	0.08%	0.08%
CB	C	0.34%	0.14%	0.14%
CE	F	0.24%	0.07%	0.07%
CF	B	0.37%	0.09%	0.09%
CFG	B	0.39%	0.05%	0.05%
CHTR	C	0.31%	0.46%	0.31%
CI	F	0.08%	0.18%	0.08%
CINF	A	0.49%	0.14%	0.14%
CLX	B	0.09%	0.41%	0.09%
CMCSA	B	0.45%	0.51%	0.45%
CMI	A	0.1%	0.08%	0.08%
CMS	C	0.17%	0.07%	0.07%
CNC	D	0.28%	0.25%	0.25%
CNP	B	0.38%	0.25%	0.25%
COF	B	0.42%	0.69%	0.42%
COP	C	0.47%	0.07%	0.07%
CPB	D	0.08%	0.2%	0.08%
CRL	C	0.08%	0.14%	0.08%
CSCO	B	0.19%	0.21%	0.19%
CSX	B	0.18%	0.08%	0.08%
CTRA	B	0.49%	0.17%	0.17%
CTSH	B	0.35%	0.13%	0.13%
CTVA	C	0.09%	0.08%	0.08%
CVS	D	0.4%	0.68%	0.4%
CVX	A	0.48%	0.75%	0.48%
CZR	F	0.04%	0.07%	0.04%
D	C	0.26%	0.24%	0.24%
DAL	C	0.55%	0.27%	0.27%
DD	D	0.08%	0.05%	0.05%
DE	A	0.25%	0.13%	0.13%
DG	F	0.3%	0.17%	0.17%
DGX	A	0.27%	0.16%	0.16%
DHI	D	0.3%	0.23%	0.23%
DIS	B	0.21%	0.2%	0.2%
DOC	D	0.16%	0.11%	0.11%
DOW	F	0.21%	0.07%	0.07%
DRI	B	0.17%	0.5%	0.17%
DTE	C	0.24%	0.24%	0.24%
DUK	C	0.25%	0.07%	0.07%
DVN	F	0.43%	0.16%	0.16%
EBAY	D	0.24%	0.22%	0.22%
ED	D	0.33%	0.24%	0.24%
EG	C	0.42%	0.14%	0.14%
EIX	B	0.17%	0.24%	0.17%
ELV	F	0.13%	0.24%	0.13%
EMN	D	0.12%	0.05%	0.05%
EOG	A	0.49%	0.07%	0.07%
EPAM	C	0.05%	0.13%	0.05%
EQR	B	0.25%	0.1%	0.1%
EQT	B	0.45%	0.18%	0.18%
ETR	B	0.4%	0.25%	0.25%
EVRG	A	0.18%	0.08%	0.08%
EXC	C	0.33%	0.29%	0.29%
EXPD	D	0.08%	0.09%	0.08%
F	C	0.45%	0.24%	0.24%
FANG	D	0.37%	0.07%	0.07%
FDX	B	0.37%	0.07%	0.07%
FE	C	0.16%	0.24%	0.16%
FITB	A	0.28%	0.05%	0.05%
FMC	D	0.19%	0.08%	0.08%
FOXA	B	0.47%	0.1%	0.1%
FTV	C	0.08%	0.03%	0.03%
GD	F	0.08%	0.16%	0.08%
GIS	D	0.15%	0.21%	0.15%
GL	B	0.13%	0.19%	0.13%
GM	B	0.54%	0.24%	0.24%
GPC	D	0.15%	0.15%	0.15%
HAL	C	0.47%	0.33%	0.33%
HBAN	A	0.42%	0.05%	0.05%
HD	A	0.08%	0.25%	0.08%
HIG	B	0.35%	0.14%	0.14%
HII	D	0.09%	0.08%	0.08%
HOLX	D	0.08%	0.1%	0.08%
HPE	B	0.45%	0.19%	0.19%
HPQ	B	0.18%	0.34%	0.18%
HRL	D	0.24%	0.36%	0.24%
HSIC	B	0.04%	0.2%	0.04%
HST	C	0.17%	0.11%	0.11%
HSY	F	0.16%	0.17%	0.16%
HUM	C	0.16%	0.26%	0.16%
IEX	B	0.09%	0.2%	0.09%
INTC	D	0.36%	0.16%	0.16%
IP	B	0.31%	0.06%	0.06%
IPG	D	0.08%	0.33%	0.08%
IVZ	B	0.04%	0.09%	0.04%
J	F	0.09%	0.39%	0.09%
JBHT	C	0.18%	0.08%	0.08%
JBL	B	0.14%	0.37%	0.14%
JNJ	D	0.17%	0.23%	0.17%
KDP	D	0.15%	0.24%	0.15%
KEY	B	0.2%	0.06%	0.06%
KEYS	A	0.09%	0.2%	0.09%
KHC	F	0.23%	0.21%	0.21%
KIM	A	0.19%	0.06%	0.06%
KMI	A	0.44%	0.25%	0.25%
KR	B	0.35%	0.73%	0.35%
L	A	0.37%	0.49%	0.37%
LEN	D	0.39%	0.24%	0.24%
LH	C	0.09%	0.16%	0.09%
LHX	C	0.09%	0.08%	0.08%
LKQ	D	0.12%	0.14%	0.12%
LMT	D	0.08%	0.08%	0.08%
LNT	A	0.26%	0.08%	0.08%
LOW	D	0.08%	0.25%	0.08%
LUV	C	0.27%	0.25%	0.25%
LYB	F	0.38%	0.07%	0.07%
MAA	B	0.08%	0.1%	0.08%
MAS	D	0.08%	0.19%	0.08%
MDLZ	F	0.07%	0.18%	0.07%
MDT	D	0.08%	0.06%	0.06%
MGM	D	0.04%	0.07%	0.04%
MOH	F	0.15%	0.25%	0.15%
MOS	F	0.16%	0.08%	0.08%
MPC	D	0.43%	0.48%	0.43%
MS	A	0.32%	0.26%	0.26%
MTB	A	0.31%	0.06%	0.06%
NDSN	B	0.08%	0.03%	0.03%
NI	A	0.28%	0.32%	0.28%
NKE	D	0.07%	0.33%	0.07%
NUE	C	0.43%	0.25%	0.25%
NVR	D	0.16%	0.3%	0.16%
NWSA	B	0.19%	0.1%	0.1%
ODFL	B	0.09%	0.08%	0.08%
OKE	A	0.22%	0.24%	0.22%
OMC	C	0.08%	0.33%	0.08%
ON	D	0.33%	0.22%	0.22%
OXY	D	0.43%	0.07%	0.07%
PCAR	B	0.49%	0.12%	0.12%
PEP	F	0.08%	0.17%	0.08%
PFG	D	0.08%	0.2%	0.08%
PHM	D	0.39%	0.25%	0.25%
PKG	A	0.2%	0.06%	0.06%
PNC	B	0.19%	0.06%	0.06%
PNW	B	0.18%	0.07%	0.07%
PPG	F	0.16%	0.07%	0.07%
PPL	B	0.27%	0.08%	0.08%
PRU	A	0.18%	0.2%	0.18%
PSX	C	0.44%	0.5%	0.44%
PYPL	B	0.09%	0.06%	0.06%
RF	A	0.29%	0.06%	0.06%
RJF	A	0.23%	0.25%	0.23%
SBUX	A	0.09%	0.48%	0.09%
SJM	D	0.12%	0.21%	0.12%
SLB	C	0.36%	0.34%	0.34%
SNA	A	0.32%	0.25%	0.25%
SOLV	C	0.17%	0.05%	0.05%
SRE	A	0.39%	0.07%	0.07%
STLD	B	0.5%	0.27%	0.27%
STT	A	0.28%	0.11%	0.11%
STX	D	0.23%	0.17%	0.17%
SWKS	F	0.3%	0.21%	0.21%
SYF	B	0.57%	0.68%	0.57%
SYY	B	0.24%	0.73%	0.24%
T	A	0.45%	0.33%	0.33%
TAP	C	0.23%	0.25%	0.23%
TDY	B	0.28%	0.03%	0.03%
TGT	F	0.2%	0.17%	0.17%
TPR	B	0.05%	0.32%	0.05%
TROW	B	0.47%	0.08%	0.08%
TRV	B	0.28%	0.14%	0.14%
TSN	B	0.19%	0.35%	0.19%
TXT	D	0.24%	0.16%	0.16%
UAL	A	0.73%	0.28%	0.28%
UHS	D	0.15%	0.32%	0.15%
ULTA	F	0.23%	0.17%	0.17%
UPS	C	0.08%	0.08%	0.08%
USB	A	0.28%	0.05%	0.05%
VLO	C	0.46%	0.49%	0.46%
VTRS	A	0.4%	0.24%	0.24%
VZ	C	0.33%	0.32%	0.32%
WEC	A	0.18%	0.07%	0.07%
WFC	A	0.46%	0.13%	0.13%
WRB	A	0.09%	0.13%	0.09%
WY	D	0.08%	0.17%	0.08%
XEL	A	0.38%	0.07%	0.07%
XOM	B	0.45%	0.75%	0.45%
ZBH	C	0.35%	0.12%	0.12%

FAB Overweight 463 Positions Relative to SHUS

Symbol	Grade	Weight
RS	B	0.48%
LNG	B	0.43%
TOL	B	0.43%
OC	A	0.39%
CRBG	B	0.37%
ALLY	C	0.35%
CNX	A	0.27%
OVV	B	0.26%
MTDR	B	0.26%
AGO	B	0.25%
NOG	A	0.25%
CMC	B	0.24%
HCC	B	0.24%
HP	B	0.24%
SM	B	0.24%
AMG	B	0.23%
AL	B	0.23%
PTEN	C	0.23%
OSK	B	0.23%
JXN	C	0.23%
CHRD	D	0.22%
NFE	D	0.22%
NOV	C	0.22%
CIVI	D	0.22%
PBF	D	0.22%
AMR	C	0.22%
DINO	D	0.21%
PVH	C	0.21%
URBN	C	0.21%
MTG	C	0.21%
RDN	C	0.21%
RNR	C	0.21%
UGI	A	0.21%
UNM	A	0.21%
MUR	D	0.21%
CXW	B	0.21%
TEX	D	0.21%
TMHC	B	0.21%
ATKR	C	0.21%
MHO	D	0.2%
LBRDK	C	0.2%
MGY	A	0.2%
G	B	0.2%
RRC	B	0.2%
ZM	B	0.2%
LBRT	D	0.2%
TPH	D	0.2%
CADE	B	0.2%
LAD	A	0.2%
RIOT	C	0.2%
JAZZ	B	0.19%
LEA	D	0.19%
ESNT	D	0.19%
MTH	D	0.19%
LNC	B	0.19%
DDS	B	0.19%
R	B	0.19%
RUSHA	C	0.19%
CNO	A	0.19%
OZK	B	0.19%
DAR	C	0.19%
SR	A	0.18%
NFG	A	0.18%
OTTR	C	0.18%
DXC	B	0.18%
BKH	A	0.18%
ADTN	A	0.18%
GPI	A	0.18%
COOP	B	0.18%
HOG	D	0.18%
RGA	A	0.18%
MATX	C	0.18%
WBS	A	0.17%
FHN	A	0.17%
MDU	D	0.17%
ASO	F	0.17%
CNXC	F	0.17%
AVT	C	0.17%
BCC	B	0.17%
POR	C	0.17%
FNF	B	0.17%
AAP	C	0.17%
KRC	C	0.17%
SSNC	B	0.17%
HRI	B	0.17%
GBDC	C	0.17%
WCC	B	0.16%
KBH	D	0.16%
GBX	A	0.16%
CLF	F	0.16%
M	D	0.16%
SUM	B	0.16%
ZION	B	0.16%
SIG	B	0.16%
VLY	B	0.15%
ECVT	C	0.15%
SANM	B	0.15%
ARW	D	0.15%
COLB	A	0.15%
WLK	D	0.15%
CTOS	C	0.15%
BFH	B	0.15%
JBT	B	0.15%
VTLE	C	0.15%
FNB	A	0.15%
OMF	A	0.15%
BMBL	C	0.15%
ALK	C	0.15%
KMT	B	0.14%
TDS	B	0.14%
ABG	B	0.14%
OGE	B	0.14%
EIG	B	0.14%
TALO	C	0.14%
ULH	B	0.14%
HTZ	C	0.14%
PINC	B	0.14%
GEF	A	0.14%
GMS	B	0.14%
AXS	A	0.14%
DNOW	B	0.14%
BERY	B	0.14%
TGNA	B	0.14%
AMKR	D	0.14%
CABO	C	0.14%
BYD	C	0.14%
GPOR	B	0.14%
CUBI	C	0.14%
BTU	B	0.13%
SNX	C	0.13%
PAG	B	0.13%
PK	B	0.13%
IART	C	0.13%
GT	C	0.13%
THO	B	0.13%
UVV	B	0.13%
WS	B	0.13%
APLE	B	0.13%
RIG	D	0.13%
REZI	A	0.13%
RLJ	C	0.13%
NXST	C	0.13%
OGS	A	0.13%
CRGY	B	0.13%
SPNT	A	0.13%
WHR	B	0.13%
SWX	B	0.13%
INGR	B	0.13%
HELE	C	0.13%
BY	B	0.12%
PEBO	A	0.12%
USM	B	0.12%
IMKTA	C	0.12%
WU	D	0.12%
GIII	D	0.12%
RES	D	0.12%
TRMK	B	0.12%
PRDO	B	0.12%
SON	D	0.12%
EPC	D	0.12%
INDB	B	0.12%
AN	C	0.12%
ENS	D	0.12%
KOS	F	0.12%
SHO	C	0.12%
PLAB	C	0.12%
BC	C	0.12%
PARR	D	0.12%
VAC	B	0.12%
INVA	D	0.12%
POST	C	0.12%
AVA	A	0.12%
HOV	D	0.11%
SAH	A	0.11%
SEB	F	0.11%
MLI	C	0.11%
MRC	B	0.11%
GEO	B	0.11%
BECN	B	0.11%
GHC	C	0.11%
OLN	D	0.11%
FOR	F	0.11%
EBC	B	0.11%
CAL	D	0.11%
WKC	D	0.11%
FFBC	A	0.11%
ASH	D	0.11%
PHIN	A	0.11%
VC	D	0.11%
ZD	C	0.11%
VNT	B	0.1%
CRC	B	0.1%
KSS	F	0.1%
UBSI	B	0.1%
SBH	C	0.1%
ACA	A	0.1%
PRG	C	0.1%
HWC	B	0.1%
NWE	B	0.1%
HGV	B	0.1%
CMA	A	0.1%
PB	A	0.1%
OEC	C	0.1%
CRK	B	0.1%
IDA	A	0.1%
LZB	B	0.1%
BV	B	0.1%
CMCO	B	0.1%
LADR	B	0.1%
SEIC	B	0.1%
OGN	D	0.1%
VSH	D	0.1%
AEO	F	0.1%
AR	B	0.1%
GES	F	0.1%
EQC	B	0.1%
CVI	F	0.1%
AMWD	C	0.1%
WMK	C	0.1%
PII	D	0.1%
CENTA	C	0.1%
SCSC	B	0.1%
DRH	B	0.1%
NWN	A	0.1%
VSCO	B	0.1%
DBRG	F	0.1%
WTFC	A	0.1%
CCS	D	0.1%
PFBC	B	0.09%
JWN	C	0.09%
SASR	B	0.09%
ALKS	B	0.09%
WSBC	A	0.09%
CATY	B	0.09%
KFY	B	0.09%
WTRG	B	0.09%
CASH	A	0.09%
BANR	B	0.09%
VSTS	C	0.09%
LPX	B	0.09%
BNL	D	0.09%
KNX	B	0.09%
PLYA	B	0.09%
SLGN	A	0.09%
SLM	A	0.09%
CUZ	B	0.09%
PDCO	D	0.09%
ORI	A	0.09%
CVBF	A	0.09%
ABR	C	0.09%
HIW	D	0.09%
PNM	F	0.09%
ABCB	B	0.09%
BOKF	B	0.09%
MLKN	D	0.09%
NAVI	C	0.09%
ANDE	D	0.09%
DIOD	D	0.08%
DAN	D	0.08%
TKR	D	0.08%
REYN	D	0.08%
SKX	D	0.08%
MCRI	A	0.08%
HOPE	B	0.08%
ALG	B	0.08%
WPC	D	0.08%
NX	C	0.08%
SRCE	B	0.08%
BKE	B	0.08%
ASGN	F	0.08%
FCF	A	0.08%
FIBK	A	0.08%
TCBK	B	0.08%
SNDR	B	0.08%
XRX	F	0.08%
VBTX	B	0.08%
HUBG	A	0.08%
KALU	C	0.08%
AGCO	D	0.08%
FIVE	F	0.08%
MSM	C	0.08%
RNST	B	0.08%
VRTS	B	0.08%
SFNC	B	0.08%
BKU	A	0.08%
WSFS	A	0.08%
PTVE	B	0.08%
COLM	B	0.08%
LAUR	A	0.08%
TNET	D	0.08%
EFSC	B	0.08%
ADNT	F	0.08%
FRME	B	0.08%
MIDD	C	0.08%
FULT	A	0.08%
UFPI	B	0.08%
HY	D	0.08%
LC	A	0.07%
SPB	C	0.07%
PEB	D	0.07%
MRTN	C	0.07%
SJW	D	0.07%
UNF	B	0.07%
ARCB	C	0.07%
WGO	C	0.07%
UHAL	D	0.07%
IPGP	D	0.07%
KLG	C	0.07%
XHR	B	0.07%
LILAK	D	0.07%
MODG	F	0.07%
WERN	C	0.07%
BUSE	B	0.07%
MMS	F	0.07%
OMI	F	0.06%
CSGS	B	0.06%
SCVL	F	0.06%
FHI	A	0.06%
CAR	C	0.06%
DFH	D	0.06%
NIC	B	0.06%
PBH	A	0.06%
CRI	D	0.06%
HMN	B	0.06%
VSAT	F	0.06%
KAR	B	0.06%
FHB	A	0.06%
HLF	C	0.06%
AMN	F	0.06%
GRBK	D	0.06%
ASB	B	0.06%
SNEX	B	0.06%
LGIH	D	0.06%
SSTK	F	0.06%
TTMI	B	0.06%
AFG	A	0.05%
YETI	C	0.05%
ALIT	C	0.05%
ROG	D	0.05%
DFIN	D	0.05%
PATK	D	0.05%
MUSA	A	0.05%
DNB	B	0.05%
PFGC	B	0.05%
RHI	B	0.05%
SYNA	C	0.05%
SSB	B	0.05%
SEM	B	0.05%
AUB	B	0.05%
FLR	B	0.05%
PSMT	C	0.05%
LCII	C	0.05%
DK	C	0.05%
OFG	B	0.05%
UCB	A	0.05%
HTH	B	0.05%
GXO	B	0.05%
SCL	C	0.05%
KWR	C	0.05%
ROCK	C	0.05%
UMBF	B	0.05%
ARI	C	0.05%
STBA	B	0.05%
CXT	B	0.05%
ALEX	C	0.05%
LNN	B	0.05%
WAFD	B	0.05%
MTX	B	0.05%
ENOV	C	0.05%
IOSP	B	0.05%
GO	C	0.05%
ABM	B	0.05%
JEF	A	0.05%
TOWN	B	0.05%
BHE	B	0.05%
PNFP	B	0.05%
GOGO	C	0.05%
NWBI	B	0.05%
FBNC	A	0.05%
SBCF	A	0.05%
UPWK	B	0.04%
NSP	D	0.04%
FBIN	D	0.04%
AVNS	F	0.04%
FOXF	F	0.04%
IAC	D	0.04%
LFUS	F	0.04%
WD	D	0.04%
RYN	D	0.04%
FUL	F	0.04%
TTC	D	0.04%
LSTR	D	0.04%
MAT	D	0.04%
BPOP	B	0.04%
SEE	C	0.04%
STWD	C	0.04%
AVNT	B	0.04%
WTS	B	0.04%
FELE	B	0.04%
ODP	F	0.04%
FAF	A	0.04%
VOYA	B	0.04%
SHEN	F	0.04%
WAL	B	0.04%
THRM	D	0.04%
NJR	A	0.04%
SKY	A	0.04%
DEA	D	0.04%
PRGO	B	0.04%
BJ	A	0.04%
SAFT	C	0.03%
HAYW	B	0.03%
EVTC	B	0.03%
AIR	B	0.03%
HLIO	B	0.03%
DEI	B	0.03%
SAM	C	0.03%
IVT	B	0.03%
GNW	A	0.03%
PPBI	B	0.03%
NBTB	B	0.03%
CVCO	A	0.03%
ROIC	A	0.03%
BHF	B	0.03%
BHLB	B	0.03%
PFS	B	0.03%
MGPI	F	0.03%
FDP	B	0.03%
FBK	B	0.03%
CBU	B	0.03%
TCBI	B	0.03%
MCW	B	0.03%
OPCH	D	0.03%
MYRG	B	0.03%
BLMN	F	0.02%
OLPX	D	0.02%
SHLS	F	0.02%
GPRE	F	0.02%
GIC	D	0.02%
PLUS	F	0.02%
SHOO	D	0.02%
OXM	D	0.02%
CMTG	F	0.02%
JBGS	D	0.02%
CWEN	C	0.02%
LXP	D	0.02%
NNI	D	0.02%
NVEE	F	0.02%
CNXN	C	0.02%
AIN	C	0.02%
KFRC	D	0.02%
RC	D	0.02%
CC	C	0.02%
NMRK	B	0.02%
MSGE	F	0.02%
OI	C	0.02%
PGRE	F	0.02%
STC	B	0.02%
CNMD	C	0.02%
XPEL	C	0.02%
UPBD	B	0.02%
MTRN	C	0.02%
MSEX	B	0.02%

FAB Underweight 298 Positions Relative to SHUS

Symbol	Grade	Weight
WMT	A	-0.72%
ROST	C	-0.71%
TJX	A	-0.71%
COST	B	-0.7%
DFS	B	-0.68%
WBA	F	-0.63%
DPZ	C	-0.52%
YUM	B	-0.5%
EL	F	-0.49%
MSI	B	-0.49%
MCD	D	-0.49%
AAPL	C	-0.49%
CMG	B	-0.49%
BRK.A	B	-0.49%
EA	A	-0.48%
TTWO	A	-0.48%
MTCH	D	-0.46%
META	D	-0.46%
KVUE	A	-0.41%
KMB	D	-0.41%
PG	A	-0.41%
CHD	B	-0.41%
VST	B	-0.4%
PWR	A	-0.4%
CL	D	-0.4%
CEG	D	-0.38%
PM	B	-0.35%
MO	A	-0.35%
CRM	B	-0.35%
ORCL	B	-0.34%
SNPS	B	-0.34%
TMUS	B	-0.33%
HCA	F	-0.33%
CDNS	B	-0.33%
IBM	C	-0.33%
MSFT	F	-0.32%
RL	B	-0.32%
GRMN	B	-0.32%
NRG	B	-0.32%
AES	F	-0.31%
LULU	C	-0.3%
FCX	D	-0.29%
DECK	A	-0.29%
VRSN	F	-0.27%
TSLA	B	-0.27%
HUBB	B	-0.26%
ETN	A	-0.26%
EQIX	A	-0.26%
SWK	D	-0.26%
DLR	B	-0.26%
GDDY	A	-0.26%
ZTS	D	-0.25%
STZ	D	-0.25%
MNST	C	-0.25%
BMY	B	-0.25%
INCY	C	-0.25%
SCHW	B	-0.25%
UNH	C	-0.25%
ENPH	F	-0.25%
HAS	D	-0.25%
PEG	A	-0.25%
GS	A	-0.25%
MRK	F	-0.24%
TRGP	B	-0.24%
PFE	D	-0.24%
ABBV	D	-0.24%
NEE	D	-0.24%
WMB	A	-0.24%
NEM	D	-0.24%
KO	D	-0.24%
GILD	C	-0.24%
CTLT	B	-0.24%
REGN	F	-0.23%
NXPI	D	-0.23%
VRTX	F	-0.23%
LLY	F	-0.23%
MRNA	F	-0.23%
AMGN	D	-0.23%
LW	C	-0.22%
DAY	B	-0.22%
NOW	A	-0.22%
QCOM	F	-0.22%
NFLX	A	-0.22%
AVGO	D	-0.22%
PLTR	B	-0.22%
ADI	D	-0.22%
CPRT	A	-0.22%
GOOGL	C	-0.22%
TXN	C	-0.22%
GOOG	C	-0.22%
ANET	C	-0.21%
AOS	F	-0.21%
MKC	D	-0.21%
QRVO	F	-0.21%
MET	A	-0.21%
ADP	B	-0.21%
PAYX	C	-0.21%
PAYC	B	-0.21%
TYL	B	-0.21%
MPWR	F	-0.21%
AMZN	C	-0.21%
IR	B	-0.2%
PARA	C	-0.2%
FFIV	B	-0.2%
ERIE	D	-0.2%
INTU	C	-0.2%
FSLR	F	-0.2%
CAH	B	-0.19%
TEL	B	-0.19%
XYL	D	-0.19%
PGR	A	-0.19%
WBD	C	-0.19%
GLW	B	-0.19%
PNR	A	-0.19%
ALL	A	-0.19%
JNPR	F	-0.19%
RSG	A	-0.18%
CRWD	B	-0.18%
GEV	B	-0.18%
WM	A	-0.18%
ROL	B	-0.18%
COR	B	-0.18%
K	A	-0.18%
MCK	B	-0.18%
MHK	D	-0.18%
APH	A	-0.18%
MMM	D	-0.17%
ANSS	B	-0.17%
GE	D	-0.17%
FTNT	C	-0.17%
MLM	B	-0.17%
NTAP	C	-0.17%
DOV	A	-0.17%
GEN	B	-0.17%
ITW	B	-0.17%
DLTR	F	-0.17%
PTC	A	-0.17%
DELL	C	-0.17%
KLAC	D	-0.17%
VMC	B	-0.17%
WDC	D	-0.17%
AMAT	F	-0.17%
CTAS	B	-0.17%
PANW	C	-0.16%
BA	F	-0.16%
HON	B	-0.16%
ADSK	A	-0.16%
TER	D	-0.16%
TECH	D	-0.15%
AZO	C	-0.15%
A	D	-0.15%
WAT	B	-0.15%
SMCI	F	-0.15%
MU	D	-0.15%
ADBE	C	-0.15%
MTD	D	-0.14%
URI	B	-0.14%
CAT	B	-0.14%
AMD	F	-0.14%
ACGL	D	-0.14%
ORLY	B	-0.14%
KMX	B	-0.14%
TMO	F	-0.14%
IT	C	-0.13%
POOL	C	-0.13%
GWW	B	-0.13%
WAB	B	-0.13%
ZBRA	B	-0.13%
BKNG	A	-0.13%
NVDA	C	-0.13%
MCHP	D	-0.13%
LDOS	C	-0.13%
IQV	D	-0.13%
HLT	A	-0.12%
SYK	C	-0.12%
ABNB	C	-0.12%
MAR	B	-0.12%
EXPE	B	-0.12%
STE	F	-0.12%
ISRG	A	-0.12%
CDW	F	-0.12%
BALL	D	-0.12%
JPM	A	-0.12%
FAST	B	-0.12%
TSCO	D	-0.12%
AMCR	D	-0.12%
AME	A	-0.12%
VTR	C	-0.11%
DVA	B	-0.11%
WELL	A	-0.11%
EXR	D	-0.11%
BR	A	-0.11%
BXP	D	-0.11%
BK	A	-0.11%
UBER	D	-0.11%
PODD	C	-0.1%
DHR	F	-0.1%
NWS	B	-0.1%
RVTY	F	-0.1%
ESS	B	-0.1%
INVH	D	-0.1%
FOX	A	-0.1%
UDR	B	-0.1%
GEHC	F	-0.1%
ALGN	D	-0.1%
AVB	B	-0.1%
PSA	D	-0.1%
CPT	B	-0.1%
AXON	A	-0.09%
KKR	A	-0.09%
CCL	B	-0.09%
AMP	A	-0.09%
CHRW	C	-0.09%
NCLH	B	-0.09%
BLK	C	-0.09%
LYV	A	-0.09%
RMD	C	-0.09%
DXCM	D	-0.09%
IDXX	F	-0.09%
SO	D	-0.08%
TT	A	-0.08%
JCI	C	-0.08%
PH	A	-0.08%
GNRC	B	-0.08%
UNP	C	-0.08%
WYNN	D	-0.08%
NSC	B	-0.08%
OTIS	C	-0.08%
NOC	D	-0.08%
BX	A	-0.08%
RTX	C	-0.08%
NTRS	A	-0.08%
LVS	C	-0.08%
RCL	A	-0.08%
SW	A	-0.07%
MRO	B	-0.07%
HES	B	-0.07%
ALLE	D	-0.07%
ES	D	-0.07%
PCG	A	-0.07%
HWM	A	-0.07%
FI	A	-0.06%
EW	C	-0.06%
ABT	B	-0.06%
AMT	D	-0.06%
BSX	B	-0.06%
REG	B	-0.06%
AVY	D	-0.06%
FRT	B	-0.06%
PLD	D	-0.06%
SBAC	D	-0.06%
VICI	C	-0.06%
CCI	D	-0.06%
O	D	-0.06%
SPG	B	-0.06%
IRM	D	-0.06%
TDG	D	-0.06%
SHW	A	-0.06%
MA	C	-0.05%
AXP	A	-0.05%
IFF	D	-0.05%
ECL	D	-0.05%
BAX	D	-0.05%
WST	C	-0.05%
BDX	F	-0.05%
TFX	F	-0.05%
ALB	C	-0.05%
FIS	C	-0.05%
JKHY	D	-0.05%
TFC	A	-0.05%
EFX	F	-0.04%
WTW	B	-0.04%
MCO	B	-0.04%
AON	A	-0.04%
CBRE	B	-0.04%
CSGP	D	-0.04%
GPN	B	-0.04%
SPGI	C	-0.04%
CBOE	B	-0.04%
VRSK	A	-0.04%
ICE	C	-0.04%
FDS	B	-0.04%
V	A	-0.04%
NDAQ	A	-0.04%
CPAY	A	-0.04%
MKTX	D	-0.04%
CME	A	-0.04%
LIN	D	-0.04%
MSCI	C	-0.04%
ROK	B	-0.03%
FICO	B	-0.03%
VLTO	D	-0.03%
EMR	A	-0.03%
TRMB	B	-0.03%
ROP	B	-0.03%
AJG	B	-0.03%
MMC	B	-0.03%
BRO	B	-0.03%