FAD vs. IUSG ETF Comparison

Comparison of First Trust MuFirst Trust Multi CG AlphaDEX (FAD) to iShares Core U.S. Growth ETF (IUSG)

FAD

First Trust MuFirst Trust Multi CG AlphaDEX

FAD 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 Growth 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) Growth 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

$148.38

Average Daily Volume

4,463

Number of Holdings ^*

640

* may have additional holdings in another (foreign) market

IUSG

iShares Core U.S. Growth ETF

IUSG Description

The investment seeks to track the investment results of a broad-based index composed of U.S. equities that exhibit growth characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell 3000 Growth Index (the "underlying index"), which measures the performance of the growth sector of the broad U.S. equity market.

Grade (RS Rating)

Last Trade

$137.37

Average Daily Volume

436,059

Number of Holdings ^*

487

* may have additional holdings in another (foreign) market

Performance

Period	FAD	IUSG
30 Days	9.58%	3.53%
60 Days	11.65%	5.09%
90 Days	14.77%	6.52%
12 Months	44.05%	37.61%

241 Overlapping Holdings

Symbol	Grade	Weight in FAD	Weight in IUSG	Overlap
AAON	B	0.2%	0.03%	0.03%
AAPL	C	0.17%	11.43%	0.17%
ACGL	D	0.37%	0.12%	0.12%
ADP	B	0.09%	0.16%	0.09%
ADSK	A	0.19%	0.11%	0.11%
AIT	A	0.2%	0.03%	0.03%
AJG	B	0.26%	0.11%	0.11%
ALLE	D	0.12%	0.02%	0.02%
AM	A	0.04%	0.01%	0.01%
AMP	A	0.41%	0.1%	0.1%
AMT	D	0.21%	0.13%	0.13%
AMZN	C	0.18%	6.3%	0.18%
ANET	C	0.33%	0.32%	0.32%
ANF	C	0.17%	0.02%	0.02%
AON	A	0.09%	0.14%	0.09%
AOS	F	0.07%	0.02%	0.02%
APH	A	0.18%	0.16%	0.16%
APPF	B	0.04%	0.02%	0.02%
ATR	B	0.09%	0.02%	0.02%
AVGO	D	0.32%	2.54%	0.32%
AXON	A	0.63%	0.14%	0.14%
AXP	A	0.44%	0.37%	0.37%
AXTA	A	0.09%	0.03%	0.03%
AYI	B	0.15%	0.02%	0.02%
AZO	C	0.17%	0.12%	0.12%
AZTA	D	0.02%	0.0%	0.0%
BCO	D	0.16%	0.01%	0.01%
BKNG	A	0.29%	0.55%	0.29%
BLD	D	0.15%	0.03%	0.03%
BLKB	B	0.08%	0.01%	0.01%
BR	A	0.26%	0.05%	0.05%
BRBR	A	0.15%	0.02%	0.02%
BRKR	D	0.03%	0.01%	0.01%
BRO	B	0.36%	0.07%	0.07%
BRX	A	0.09%	0.01%	0.01%
BSX	B	0.36%	0.24%	0.24%
BURL	A	0.44%	0.03%	0.03%
BWXT	B	0.15%	0.04%	0.04%
CACI	D	0.18%	0.01%	0.01%
CASY	A	0.27%	0.05%	0.05%
CAT	B	0.33%	0.35%	0.33%
CBOE	B	0.17%	0.05%	0.05%
CBSH	A	0.1%	0.01%	0.01%
CBT	C	0.16%	0.01%	0.01%
CCL	B	0.45%	0.06%	0.06%
CDP	C	0.05%	0.0%	0.0%
CEG	D	0.37%	0.11%	0.11%
CFR	B	0.1%	0.01%	0.01%
CHD	B	0.09%	0.04%	0.04%
CHDN	B	0.09%	0.03%	0.03%
CHE	D	0.04%	0.02%	0.02%
CHH	A	0.05%	0.0%	0.0%
CHWY	B	0.1%	0.01%	0.01%
CL	D	0.22%	0.1%	0.1%
CLH	B	0.13%	0.04%	0.04%
CMG	B	0.08%	0.27%	0.08%
CNM	D	0.04%	0.02%	0.02%
COKE	C	0.19%	0.02%	0.02%
COST	B	0.35%	0.57%	0.35%
CPAY	A	0.2%	0.08%	0.08%
CRM	B	0.1%	1.03%	0.1%
CROX	D	0.08%	0.02%	0.02%
CRUS	D	0.1%	0.01%	0.01%
CRWD	B	0.1%	0.27%	0.1%
CSL	C	0.24%	0.07%	0.07%
CTAS	B	0.35%	0.14%	0.14%
CUBE	D	0.08%	0.02%	0.02%
CVLT	B	0.22%	0.01%	0.01%
CW	B	0.22%	0.03%	0.03%
DAY	B	0.05%	0.02%	0.02%
DBX	B	0.09%	0.02%	0.02%
DCI	B	0.04%	0.02%	0.02%
DECK	A	0.27%	0.09%	0.09%
DELL	C	0.19%	0.07%	0.07%
DKS	C	0.12%	0.02%	0.02%
DLR	B	0.09%	0.08%	0.08%
DOCS	C	0.14%	0.01%	0.01%
DT	C	0.12%	0.05%	0.05%
DTM	B	0.11%	0.02%	0.02%
DUOL	A	0.23%	0.04%	0.04%
DVA	B	0.2%	0.01%	0.01%
ECL	D	0.24%	0.1%	0.1%
EEFT	B	0.09%	0.01%	0.01%
EFX	F	0.21%	0.04%	0.04%
EGP	F	0.04%	0.02%	0.02%
EHC	B	0.17%	0.02%	0.02%
EME	C	0.49%	0.08%	0.08%
ENSG	D	0.21%	0.03%	0.03%
EPR	D	0.04%	0.01%	0.01%
EQIX	A	0.08%	0.14%	0.08%
ERIE	D	0.32%	0.02%	0.02%
ESAB	B	0.1%	0.02%	0.02%
ETN	A	0.18%	0.3%	0.18%
EWBC	A	0.21%	0.03%	0.03%
EXEL	B	0.22%	0.03%	0.03%
EXLS	B	0.19%	0.01%	0.01%
EXP	A	0.17%	0.03%	0.03%
EXPE	B	0.51%	0.07%	0.07%
EXPO	D	0.07%	0.01%	0.01%
FAST	B	0.09%	0.08%	0.08%
FCN	D	0.07%	0.02%	0.02%
FFIN	B	0.19%	0.01%	0.01%
FI	A	0.4%	0.21%	0.21%
FICO	B	0.49%	0.18%	0.18%
FIX	A	0.24%	0.06%	0.06%
FLS	B	0.14%	0.01%	0.01%
FND	C	0.07%	0.04%	0.04%
FOUR	B	0.24%	0.02%	0.02%
FR	C	0.04%	0.01%	0.01%
FTNT	C	0.29%	0.19%	0.19%
GATX	A	0.05%	0.01%	0.01%
GDDY	A	0.5%	0.09%	0.09%
GE	D	0.32%	0.27%	0.27%
GLPI	C	0.08%	0.02%	0.02%
GOOGL	C	0.09%	3.44%	0.09%
GRMN	B	0.4%	0.06%	0.06%
GTLS	B	0.06%	0.02%	0.02%
GWW	B	0.28%	0.13%	0.13%
H	B	0.04%	0.02%	0.02%
HALO	F	0.12%	0.02%	0.02%
HCA	F	0.35%	0.1%	0.1%
HLI	B	0.19%	0.03%	0.03%
HLNE	B	0.24%	0.03%	0.03%
HLT	A	0.27%	0.2%	0.2%
HRB	D	0.16%	0.03%	0.03%
HUBB	B	0.26%	0.04%	0.04%
HWM	A	0.48%	0.09%	0.09%
IBKR	A	0.22%	0.04%	0.04%
IBOC	A	0.15%	0.01%	0.01%
IR	B	0.17%	0.1%	0.1%
IRDM	D	0.02%	0.01%	0.01%
IRM	D	0.41%	0.06%	0.06%
ISRG	A	0.27%	0.42%	0.27%
IT	C	0.17%	0.13%	0.13%
ITT	A	0.17%	0.04%	0.04%
ITW	B	0.08%	0.11%	0.08%
KEX	C	0.17%	0.01%	0.01%
KKR	A	0.49%	0.34%	0.34%
KLAC	D	0.07%	0.27%	0.07%
KNF	A	0.22%	0.01%	0.01%
KNSL	B	0.08%	0.03%	0.03%
KO	D	0.15%	0.31%	0.15%
LAMR	D	0.08%	0.02%	0.02%
LII	A	0.35%	0.07%	0.07%
LIN	D	0.08%	0.37%	0.08%
LLY	F	0.14%	1.9%	0.14%
LNTH	D	0.14%	0.02%	0.02%
LNW	D	0.04%	0.03%	0.03%
LOPE	B	0.05%	0.02%	0.02%
LVS	C	0.24%	0.04%	0.04%
LYV	A	0.41%	0.07%	0.07%
MA	C	0.09%	1.02%	0.09%
MANH	D	0.24%	0.05%	0.05%
MAR	B	0.19%	0.21%	0.19%
MASI	A	0.05%	0.02%	0.02%
MCD	D	0.16%	0.3%	0.16%
MCO	B	0.25%	0.11%	0.11%
MEDP	D	0.04%	0.03%	0.03%
META	D	0.33%	4.04%	0.33%
MMC	B	0.17%	0.19%	0.17%
MORN	B	0.04%	0.03%	0.03%
MPWR	F	0.11%	0.09%	0.09%
MSCI	C	0.08%	0.09%	0.08%
MSI	B	0.37%	0.16%	0.16%
MTD	D	0.06%	0.03%	0.03%
NCLH	B	0.16%	0.04%	0.04%
NEU	C	0.04%	0.01%	0.01%
NFLX	A	0.29%	1.23%	0.29%
NNN	D	0.04%	0.01%	0.01%
NOW	A	0.38%	0.69%	0.38%
NSA	D	0.06%	0.0%	0.0%
NTAP	C	0.24%	0.03%	0.03%
NVDA	C	0.39%	11.91%	0.39%
NYT	C	0.12%	0.03%	0.03%
OHI	C	0.12%	0.01%	0.01%
OLLI	D	0.12%	0.02%	0.02%
ORCL	B	0.37%	0.99%	0.37%
ORLY	B	0.18%	0.17%	0.17%
OTIS	C	0.16%	0.05%	0.05%
PANW	C	0.19%	0.41%	0.19%
PAYC	B	0.05%	0.02%	0.02%
PAYX	C	0.09%	0.06%	0.06%
PCTY	B	0.1%	0.03%	0.03%
PG	A	0.08%	0.52%	0.08%
PGR	A	0.43%	0.25%	0.25%
PH	A	0.37%	0.23%	0.23%
PLNT	A	0.15%	0.03%	0.03%
PLTR	B	0.69%	0.42%	0.42%
PM	B	0.37%	0.25%	0.25%
PODD	C	0.19%	0.02%	0.02%
PRI	A	0.14%	0.03%	0.03%
PSA	D	0.23%	0.07%	0.07%
PSN	D	0.19%	0.01%	0.01%
PWR	A	0.46%	0.11%	0.11%
QCOM	F	0.08%	0.31%	0.08%
RBC	A	0.04%	0.03%	0.03%
RCL	A	0.55%	0.18%	0.18%
RGLD	C	0.04%	0.02%	0.02%
RL	B	0.18%	0.02%	0.02%
RLI	B	0.09%	0.02%	0.02%
ROIV	C	0.04%	0.01%	0.01%
ROL	B	0.17%	0.02%	0.02%
ROST	C	0.16%	0.15%	0.15%
RSG	A	0.18%	0.08%	0.08%
RYAN	B	0.13%	0.02%	0.02%
SBAC	D	0.08%	0.03%	0.03%
SCI	B	0.14%	0.02%	0.02%
SFM	A	0.27%	0.02%	0.02%
SHW	A	0.33%	0.14%	0.14%
SMG	D	0.14%	0.0%	0.0%
SPG	B	0.18%	0.07%	0.07%
SPGI	C	0.24%	0.23%	0.23%
SSD	D	0.04%	0.02%	0.02%
SYK	C	0.09%	0.28%	0.09%
TDG	D	0.3%	0.23%	0.23%
TJX	A	0.25%	0.29%	0.25%
TKO	B	0.17%	0.01%	0.01%
TNL	A	0.06%	0.01%	0.01%
TPL	A	0.39%	0.06%	0.06%
TRGP	B	0.57%	0.15%	0.15%
TSCO	D	0.23%	0.04%	0.04%
TSLA	B	0.22%	3.16%	0.22%
TT	A	0.44%	0.21%	0.21%
TTEK	F	0.18%	0.04%	0.04%
TXRH	C	0.18%	0.04%	0.04%
TYL	B	0.25%	0.08%	0.08%
UBER	D	0.23%	0.48%	0.23%
URI	B	0.43%	0.18%	0.18%
UTHR	C	0.42%	0.02%	0.02%
VRTX	F	0.08%	0.24%	0.08%
VST	B	0.52%	0.18%	0.18%
WAT	B	0.08%	0.03%	0.03%
WEN	D	0.02%	0.01%	0.01%
WING	D	0.1%	0.03%	0.03%
WM	A	0.09%	0.12%	0.09%
WMB	A	0.21%	0.09%	0.09%
WSM	B	0.15%	0.06%	0.06%
WSO	A	0.26%	0.06%	0.06%
WWD	B	0.12%	0.03%	0.03%
WYNN	D	0.12%	0.03%	0.03%
ZTS	D	0.07%	0.14%	0.07%

FAD Overweight 399 Positions Relative to IUSG

Symbol	Grade	Weight
APP	B	0.96%
CVNA	B	0.59%
VRT	B	0.52%
DASH	A	0.51%
GS	A	0.5%
HOOD	B	0.5%
BK	A	0.46%
WAB	B	0.45%
HEI	B	0.44%
ALL	A	0.44%
NRG	B	0.43%
CPNG	D	0.42%
VTR	C	0.42%
NTRS	A	0.41%
FCNCA	A	0.4%
TMUS	B	0.39%
RBLX	C	0.39%
THC	D	0.39%
JPM	A	0.39%
PCG	A	0.36%
GEN	B	0.36%
PEG	A	0.34%
FSLR	F	0.33%
RMD	C	0.33%
AFRM	B	0.32%
IBM	C	0.32%
APO	B	0.32%
NEE	D	0.31%
COIN	C	0.31%
SOFI	A	0.3%
ALNY	D	0.29%
BAH	F	0.29%
NDAQ	A	0.27%
TTD	B	0.26%
WELL	A	0.26%
AX	A	0.26%
PIPR	B	0.25%
QTWO	A	0.25%
NTRA	B	0.25%
BRK.A	B	0.25%
ALSN	B	0.25%
CORT	B	0.24%
RDNT	B	0.24%
RKLB	B	0.24%
SO	D	0.24%
ICE	C	0.24%
SFBS	B	0.24%
VLTO	D	0.23%
KTB	B	0.23%
CSWI	A	0.23%
CRS	A	0.23%
TOST	B	0.23%
ACIW	B	0.22%
COHR	B	0.22%
XYL	D	0.22%
MOG.A	B	0.22%
ITRI	B	0.22%
DY	D	0.21%
IOT	A	0.21%
MOD	A	0.2%
LTH	C	0.2%
MO	A	0.19%
MSTR	C	0.19%
HIMS	B	0.19%
GMED	A	0.19%
TPG	A	0.19%
EAT	A	0.19%
PEGA	A	0.19%
MMSI	B	0.18%
DOV	A	0.18%
GWRE	A	0.18%
ATI	D	0.18%
CRVL	A	0.18%
ARES	A	0.18%
SLG	B	0.18%
FRPT	B	0.18%
BOOT	D	0.17%
ADC	B	0.17%
PAYO	A	0.17%
ITGR	B	0.17%
AUR	C	0.17%
ROAD	A	0.16%
IDCC	A	0.16%
POWL	C	0.16%
DOCU	A	0.16%
IESC	B	0.16%
BFAM	D	0.16%
FSS	B	0.16%
VICI	C	0.16%
BMI	B	0.16%
EPRT	B	0.16%
PRIM	A	0.16%
AVAV	D	0.16%
CRDO	B	0.16%
TRUP	B	0.15%
AWI	A	0.15%
AMGN	D	0.15%
GVA	A	0.15%
KAI	A	0.15%
LMND	B	0.15%
WWW	B	0.15%
O	D	0.15%
RIVN	F	0.15%
TGTX	B	0.15%
STRL	B	0.15%
EXR	D	0.15%
PI	D	0.14%
FTDR	A	0.14%
FFIV	B	0.14%
PRCT	B	0.14%
ZETA	D	0.14%
STEP	B	0.14%
WHD	B	0.14%
CNK	B	0.14%
S	B	0.14%
IBP	D	0.14%
ATGE	B	0.14%
PJT	A	0.14%
MCY	A	0.14%
USLM	A	0.14%
HOMB	A	0.14%
ONB	B	0.14%
LRN	A	0.14%
ENVA	B	0.14%
QCRH	A	0.14%
WULF	C	0.14%
TBBK	B	0.13%
BDC	B	0.13%
REVG	B	0.13%
ACLX	C	0.13%
GSHD	A	0.13%
AXSM	B	0.13%
BOX	B	0.13%
TRN	C	0.13%
VCYT	B	0.13%
CNS	B	0.13%
HASI	D	0.13%
TW	A	0.13%
RYTM	C	0.13%
CHEF	A	0.12%
HWKN	B	0.12%
ADMA	B	0.12%
NHC	C	0.12%
DSGR	D	0.12%
SKWD	A	0.12%
SLVM	B	0.12%
AMRX	C	0.12%
CALM	A	0.12%
SBRA	C	0.12%
HNI	B	0.12%
PBI	B	0.12%
AZEK	A	0.12%
SKYW	B	0.12%
LMAT	A	0.11%
KYMR	D	0.11%
PTGX	C	0.11%
MWA	B	0.11%
OSW	A	0.11%
VRNS	D	0.11%
PRK	B	0.11%
NBHC	B	0.11%
PLMR	B	0.11%
PRM	C	0.11%
ALKT	B	0.11%
LPLA	A	0.11%
VCTR	B	0.11%
RNA	D	0.11%
INTA	A	0.11%
ALHC	C	0.11%
SYBT	B	0.11%
DORM	B	0.11%
INSM	C	0.11%
CWAN	B	0.11%
CDE	D	0.11%
AGIO	C	0.11%
PTON	B	0.11%
SATS	D	0.11%
SGBX	F	0.11%
OUT	A	0.1%
GME	C	0.1%
LFST	C	0.1%
AORT	B	0.1%
SMTC	B	0.1%
CENX	B	0.1%
RARE	D	0.1%
SABR	C	0.1%
RVMD	C	0.1%
CPRX	C	0.1%
MTCH	D	0.1%
CCOI	B	0.1%
PTCT	B	0.1%
JANX	C	0.1%
MIRM	B	0.1%
CRAI	B	0.1%
MNKD	C	0.1%
TGLS	B	0.1%
INSP	D	0.1%
REG	B	0.09%
AES	F	0.09%
TMDX	F	0.09%
ORA	B	0.09%
IRT	A	0.09%
RHP	B	0.09%
MKTX	D	0.09%
WDAY	B	0.09%
GKOS	B	0.09%
MSGS	A	0.09%
NMIH	D	0.09%
WTTR	B	0.09%
DKNG	B	0.09%
MKL	A	0.09%
BCRX	D	0.09%
LITE	B	0.09%
CWST	A	0.09%
OSCR	D	0.09%
VERX	B	0.09%
RUN	F	0.09%
GPN	B	0.09%
YOU	D	0.09%
WTM	A	0.09%
ITCI	C	0.09%
PRGS	A	0.09%
FBP	B	0.09%
NPAB	B	0.09%
BLBD	D	0.08%
UE	C	0.08%
AGNC	D	0.08%
MU	D	0.08%
HURN	B	0.08%
CHCO	B	0.08%
OII	B	0.08%
RNG	B	0.08%
KMB	D	0.08%
HRMY	D	0.08%
ESE	B	0.08%
SHAK	C	0.08%
GPK	C	0.08%
MGNI	A	0.08%
VITL	D	0.08%
GERN	D	0.08%
GAP	C	0.08%
CPT	B	0.08%
CIFR	B	0.08%
BPMC	C	0.08%
CTRE	D	0.08%
BANF	B	0.08%
CAKE	C	0.08%
BGC	C	0.08%
WT	B	0.08%
APOG	B	0.08%
SITM	B	0.08%
GABC	B	0.08%
CARG	C	0.08%
AVB	B	0.08%
SEMR	B	0.08%
BCPC	B	0.08%
ASTH	D	0.08%
ESS	B	0.08%
MBIN	D	0.08%
KRG	B	0.08%
UFPT	B	0.08%
PMT	D	0.07%
CWT	D	0.07%
WRBY	B	0.07%
VRRM	D	0.07%
ESRT	C	0.07%
NRIX	D	0.07%
A	D	0.07%
KN	B	0.07%
OSIS	B	0.07%
AAT	B	0.07%
CCI	D	0.07%
COLL	F	0.07%
AZZ	B	0.07%
KTOS	B	0.07%
GFF	A	0.07%
IIPR	D	0.06%
MGEE	C	0.06%
DRVN	B	0.06%
LYFT	C	0.06%
AROC	B	0.06%
HEES	B	0.06%
ICFI	F	0.06%
BLFS	C	0.06%
HLIT	D	0.06%
CEIX	A	0.06%
CLSK	C	0.06%
FLNC	C	0.06%
ADUS	D	0.06%
ASPN	F	0.06%
KNTK	B	0.06%
IOVA	F	0.06%
DOCN	D	0.06%
AMPH	D	0.06%
BRC	D	0.06%
TWST	D	0.06%
NHI	D	0.06%
CMPR	D	0.05%
GTX	D	0.05%
AESI	B	0.05%
SXT	B	0.05%
JJSF	B	0.05%
IAS	C	0.05%
MARA	C	0.05%
UMH	C	0.05%
KW	B	0.05%
AIV	C	0.05%
TRMB	B	0.05%
SCS	C	0.05%
FCPT	C	0.05%
SWI	B	0.05%
TNDM	F	0.05%
OCUL	D	0.05%
NTNX	A	0.05%
GTY	B	0.05%
ARQT	C	0.05%
NEO	C	0.05%
NXRT	B	0.05%
OWL	A	0.05%
CPK	A	0.05%
KD	B	0.05%
MAC	B	0.05%
WDFC	B	0.05%
ACVA	B	0.05%
SKT	B	0.05%
BANC	A	0.05%
GH	B	0.05%
AGM	C	0.05%
LGND	B	0.05%
SXI	B	0.05%
AGYS	A	0.05%
BKD	D	0.05%
LKFN	B	0.05%
EPAC	B	0.05%
ELAN	D	0.04%
CDRE	D	0.04%
HUMA	F	0.04%
MYGN	F	0.04%
PHR	F	0.04%
DNLI	D	0.04%
IPAR	B	0.04%
UDR	B	0.04%
EVH	F	0.04%
ESI	A	0.04%
ALX	D	0.04%
RXST	F	0.04%
ELME	D	0.04%
MAIN	A	0.04%
CRNX	C	0.04%
NVAX	F	0.04%
HLX	B	0.04%
ANIP	F	0.04%
GOLF	B	0.04%
MLNK	B	0.03%
PLAY	D	0.03%
APPN	B	0.03%
LCID	F	0.03%
APAM	B	0.03%
SMPL	B	0.03%
ACAD	D	0.03%
CTS	C	0.03%
CARS	B	0.03%
WABC	B	0.03%
CBZ	B	0.03%
TDW	F	0.03%
SOUN	C	0.03%
PAR	B	0.03%
U	C	0.03%
MIR	A	0.03%
TGI	B	0.03%
ARDX	F	0.03%
TECH	D	0.03%
CLDX	F	0.02%
RLAY	F	0.02%
XPRO	F	0.02%
LPG	F	0.02%
VECO	F	0.02%
JAMF	F	0.02%
JOE	F	0.02%
GNL	F	0.02%
NSSC	D	0.02%
PZZA	D	0.02%
TNC	D	0.02%
FOLD	F	0.02%
ENVX	F	0.02%
RRR	D	0.02%
ARLO	C	0.02%
BXMT	C	0.02%
AMC	C	0.02%
BEAM	D	0.02%
FBRT	C	0.02%
AWR	B	0.02%
YELP	C	0.02%
THR	B	0.02%
STRA	C	0.02%
LTC	B	0.02%
TR	B	0.02%
BL	B	0.02%
CLB	B	0.02%

FAD Underweight 246 Positions Relative to IUSG

Symbol	Grade	Weight
MSFT	F	-10.23%
GOOG	C	-2.84%
V	A	-1.13%
AMD	F	-0.74%
ADBE	C	-0.73%
UNH	C	-0.67%
INTU	C	-0.59%
HD	A	-0.49%
AMAT	F	-0.46%
ACN	C	-0.39%
ABBV	D	-0.36%
BX	A	-0.32%
MRK	F	-0.32%
COP	C	-0.3%
LRCX	F	-0.3%
SNPS	B	-0.27%
CDNS	B	-0.27%
PEP	F	-0.26%
TMO	F	-0.24%
SBUX	A	-0.22%
TXN	C	-0.22%
UNP	C	-0.21%
ADI	D	-0.2%
DE	A	-0.19%
EOG	A	-0.17%
DHI	D	-0.16%
REGN	F	-0.16%
CPRT	A	-0.16%
BA	F	-0.15%
OKE	A	-0.14%
NXPI	D	-0.14%
PCAR	B	-0.14%
NKE	D	-0.13%
ODFL	B	-0.13%
GEV	B	-0.13%
HES	B	-0.13%
MDLZ	F	-0.12%
CSX	B	-0.11%
FANG	D	-0.11%
LULU	C	-0.11%
ABNB	C	-0.1%
MPC	D	-0.1%
CME	A	-0.1%
CARR	D	-0.1%
FCX	D	-0.1%
FTV	C	-0.09%
PHM	D	-0.09%
NVR	D	-0.09%
MNST	C	-0.08%
LEN	D	-0.08%
DAL	C	-0.08%
DFS	B	-0.08%
VMC	B	-0.08%
MLM	B	-0.08%
ROP	B	-0.08%
MCHP	D	-0.07%
BLDR	D	-0.07%
AME	A	-0.07%
NUE	C	-0.07%
VRSK	A	-0.07%
WST	C	-0.07%
ANSS	B	-0.06%
RS	B	-0.06%
OC	A	-0.06%
YUM	B	-0.06%
CHTR	C	-0.06%
TEL	B	-0.06%
EA	A	-0.06%
DXCM	D	-0.06%
IDXX	F	-0.06%
PTC	A	-0.05%
SMCI	F	-0.05%
GGG	B	-0.05%
TTWO	A	-0.05%
ROK	B	-0.05%
PSTG	D	-0.05%
EW	C	-0.05%
TOL	B	-0.05%
ULTA	F	-0.04%
LECO	B	-0.04%
STE	F	-0.04%
OVV	B	-0.04%
PNR	A	-0.04%
NBIX	C	-0.04%
IQV	D	-0.04%
CSGP	D	-0.04%
ON	D	-0.04%
STLD	B	-0.04%
CTRA	B	-0.04%
NVT	B	-0.04%
SAIA	B	-0.04%
UFPI	B	-0.03%
JBL	B	-0.03%
POOL	C	-0.03%
CE	F	-0.03%
ONTO	D	-0.03%
SKX	D	-0.03%
CHRD	D	-0.03%
APA	D	-0.03%
XPO	B	-0.03%
SRPT	D	-0.03%
RRC	B	-0.03%
COO	D	-0.03%
MRO	B	-0.03%
STX	D	-0.03%
CF	B	-0.03%
CR	A	-0.03%
SNA	A	-0.03%
ELS	C	-0.03%
ALGN	D	-0.03%
FDS	B	-0.03%
MAS	D	-0.03%
FN	D	-0.03%
WMS	D	-0.03%
RPM	A	-0.03%
TPX	B	-0.03%
PEN	B	-0.03%
PR	B	-0.03%
HSY	F	-0.03%
MOH	F	-0.03%
CDW	F	-0.03%
MUSA	A	-0.03%
DRI	B	-0.03%
FIVE	F	-0.02%
HQY	B	-0.02%
CZR	F	-0.02%
WTRG	B	-0.02%
CCK	C	-0.02%
WH	B	-0.02%
WAL	B	-0.02%
BYD	C	-0.02%
CG	A	-0.02%
VVV	F	-0.02%
QLYS	C	-0.02%
NXT	C	-0.02%
EPAM	C	-0.02%
AVTR	F	-0.02%
RMBS	C	-0.02%
WTS	B	-0.02%
VNT	B	-0.02%
MGM	D	-0.02%
CNX	A	-0.02%
WFRD	D	-0.02%
ALTR	B	-0.02%
EXPD	D	-0.02%
DPZ	C	-0.02%
AKAM	D	-0.02%
GNRC	B	-0.02%
MTDR	B	-0.02%
MSA	D	-0.02%
BMRN	D	-0.02%
RGEN	D	-0.02%
LSCC	D	-0.02%
ACM	A	-0.02%
ELF	C	-0.02%
LW	C	-0.02%
AMH	D	-0.02%
VRSN	F	-0.02%
HST	C	-0.02%
OLED	D	-0.02%
WEX	D	-0.02%
EVR	B	-0.02%
TREX	C	-0.02%
RNR	C	-0.02%
HGV	B	-0.01%
RYN	D	-0.01%
ENS	D	-0.01%
POWI	D	-0.01%
LANC	C	-0.01%
MSM	C	-0.01%
CAR	C	-0.01%
TKR	D	-0.01%
OPCH	D	-0.01%
TEX	D	-0.01%
RH	B	-0.01%
SHC	F	-0.01%
MUR	D	-0.01%
OLN	D	-0.01%
YETI	C	-0.01%
SLM	A	-0.01%
SAIC	F	-0.01%
ARWR	F	-0.01%
MTG	C	-0.01%
IDA	A	-0.01%
DLB	B	-0.01%
HXL	D	-0.01%
HWC	B	-0.01%
EQH	B	-0.01%
COTY	F	-0.01%
CYTK	F	-0.01%
HAE	C	-0.01%
MAT	D	-0.01%
OZK	B	-0.01%
KBH	D	-0.01%
TDC	D	-0.01%
VAL	D	-0.01%
ENPH	F	-0.01%
CGNX	C	-0.01%
PK	B	-0.01%
VOYA	B	-0.01%
JAZZ	B	-0.01%
BC	C	-0.01%
SLAB	D	-0.01%
AZPN	A	-0.01%
SIGI	C	-0.01%
ALTM	C	-0.01%
STAG	F	-0.01%
INGR	B	-0.01%
MKSI	C	-0.01%
VNOM	A	-0.01%
ACHC	F	-0.01%
MIDD	C	-0.01%
NOVT	D	-0.01%
FBIN	D	-0.01%
MMS	F	-0.01%
REXR	F	-0.01%
WMG	C	-0.01%
KBR	F	-0.01%
CIEN	B	-0.01%
PNFP	B	-0.01%
FCFS	F	-0.01%
SEIC	B	-0.01%
CHX	C	-0.01%
WLK	D	-0.01%
TTC	D	-0.01%
CELH	F	-0.01%
ALV	C	-0.01%
MTN	C	-0.01%
LFUS	F	-0.01%
LSTR	D	-0.01%
MTSI	B	-0.01%
GNTX	C	-0.01%
LPX	B	-0.01%
GXO	B	-0.01%
CIVI	D	-0.01%
IPGP	D	-0.0%
ZI	D	-0.0%
LIVN	F	-0.0%
ALGM	D	-0.0%
VC	D	-0.0%
CPRI	F	-0.0%
SYNA	C	-0.0%
AMED	F	-0.0%
NSP	D	-0.0%
SAM	C	-0.0%
COLM	B	-0.0%