FAD vs. SPGM ETF Comparison

Comparison of First Trust MuFirst Trust Multi CG AlphaDEX (FAD) to SPDR Portfolio MSCI Global Stock Market ETF (SPGM)

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

SPGM

SPDR Portfolio MSCI Global Stock Market ETF

SPGM Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI ACWI IMI Index. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index and in depositary receipts based on securities comprising the index. The index is a free float-adjusted market capitalization-weighted index that is designed to measure the combined equity market performance of developed and emerging markets.

Grade (RS Rating)

Last Trade

$65.12

Average Daily Volume

57,969

Number of Holdings ^*

1003

* may have additional holdings in another (foreign) market

Performance

Period	FAD	SPGM
30 Days	9.58%	1.43%
60 Days	11.65%	1.86%
90 Days	14.77%	3.02%
12 Months	44.05%	25.48%

268 Overlapping Holdings

Symbol	Grade	Weight in FAD	Weight in SPGM	Overlap
A	D	0.07%	0.2%	0.07%
AAON	B	0.2%	0.01%	0.01%
AAPL	C	0.17%	3.74%	0.17%
ACVA	B	0.05%	0.0%	0.0%
ADMA	B	0.12%	0.02%	0.02%
ADP	B	0.09%	0.23%	0.09%
ADSK	A	0.19%	0.01%	0.01%
ADUS	D	0.06%	0.0%	0.0%
AES	F	0.09%	0.01%	0.01%
AFRM	B	0.32%	0.02%	0.02%
AGNC	D	0.08%	0.01%	0.01%
AGYS	A	0.05%	0.02%	0.02%
AIV	C	0.05%	0.02%	0.02%
ALHC	C	0.11%	0.0%	0.0%
ALKT	B	0.11%	0.01%	0.01%
ALL	A	0.44%	0.16%	0.16%
ALLE	D	0.12%	0.04%	0.04%
ALNY	D	0.29%	0.01%	0.01%
AMC	C	0.02%	0.0%	0.0%
AMGN	D	0.15%	0.21%	0.15%
AMT	D	0.21%	0.16%	0.16%
AMZN	C	0.18%	2.13%	0.18%
ANET	C	0.33%	0.07%	0.07%
ANF	C	0.17%	0.0%	0.0%
AON	A	0.09%	0.08%	0.08%
APH	A	0.18%	0.01%	0.01%
APP	B	0.96%	0.06%	0.06%
APPF	B	0.04%	0.0%	0.0%
APPN	B	0.03%	0.0%	0.0%
ARDX	F	0.03%	0.0%	0.0%
ARLO	C	0.02%	0.0%	0.0%
ARQT	C	0.05%	0.0%	0.0%
ASPN	F	0.06%	0.0%	0.0%
ASTH	D	0.08%	0.0%	0.0%
AUR	C	0.17%	0.01%	0.01%
AVGO	D	0.32%	0.87%	0.32%
AX	A	0.26%	0.0%	0.0%
AXON	A	0.63%	0.06%	0.06%
AXP	A	0.44%	0.36%	0.36%
AXSM	B	0.13%	0.0%	0.0%
AZEK	A	0.12%	0.02%	0.02%
BCRX	D	0.09%	0.01%	0.01%
BEAM	D	0.02%	0.0%	0.0%
BK	A	0.46%	0.19%	0.19%
BKNG	A	0.29%	0.31%	0.29%
BLBD	D	0.08%	0.01%	0.01%
BLFS	C	0.06%	0.01%	0.01%
BOOT	D	0.17%	0.01%	0.01%
BRBR	A	0.15%	0.0%	0.0%
BRK.A	B	0.25%	0.73%	0.25%
BSX	B	0.36%	0.14%	0.14%
BURL	A	0.44%	0.0%	0.0%
CARS	B	0.03%	0.0%	0.0%
CAT	B	0.33%	0.3%	0.3%
CCL	B	0.45%	0.02%	0.02%
CDE	D	0.11%	0.0%	0.0%
CEG	D	0.37%	0.12%	0.12%
CEIX	A	0.06%	0.0%	0.0%
CENX	B	0.1%	0.01%	0.01%
CHD	B	0.09%	0.07%	0.07%
CHEF	A	0.12%	0.0%	0.0%
CIFR	B	0.08%	0.01%	0.01%
CL	D	0.22%	0.13%	0.13%
CLDX	F	0.02%	0.01%	0.01%
CLSK	C	0.06%	0.01%	0.01%
CMG	B	0.08%	0.11%	0.08%
CMPR	D	0.05%	0.0%	0.0%
COHR	B	0.22%	0.01%	0.01%
COIN	C	0.31%	0.06%	0.06%
COLL	F	0.07%	0.01%	0.01%
COST	B	0.35%	0.56%	0.35%
CPRX	C	0.1%	0.01%	0.01%
CRM	B	0.1%	0.49%	0.1%
CROX	D	0.08%	0.01%	0.01%
CRWD	B	0.1%	0.09%	0.09%
CVNA	B	0.59%	0.03%	0.03%
DASH	A	0.51%	0.03%	0.03%
DELL	C	0.19%	0.02%	0.02%
DKNG	B	0.09%	0.02%	0.02%
DLR	B	0.09%	0.01%	0.01%
DOCN	D	0.06%	0.0%	0.0%
DOCS	C	0.14%	0.01%	0.01%
DOCU	A	0.16%	0.01%	0.01%
DT	C	0.12%	0.01%	0.01%
DUOL	A	0.23%	0.0%	0.0%
ECL	D	0.24%	0.14%	0.14%
ELAN	D	0.04%	0.0%	0.0%
ENVA	B	0.14%	0.0%	0.0%
ENVX	F	0.02%	0.0%	0.0%
EPRT	B	0.16%	0.01%	0.01%
EQIX	A	0.08%	0.05%	0.05%
ETN	A	0.18%	0.24%	0.18%
EVH	F	0.04%	0.0%	0.0%
EXPE	B	0.51%	0.01%	0.01%
FAST	B	0.09%	0.13%	0.09%
FBRT	C	0.02%	0.0%	0.0%
FI	A	0.4%	0.05%	0.05%
FICO	B	0.49%	0.03%	0.03%
FLNC	C	0.06%	0.0%	0.0%
FOUR	B	0.24%	0.01%	0.01%
FSLR	F	0.33%	0.02%	0.02%
FTNT	C	0.29%	0.03%	0.03%
GE	D	0.32%	0.14%	0.14%
GERN	D	0.08%	0.01%	0.01%
GH	B	0.05%	0.0%	0.0%
GKOS	B	0.09%	0.0%	0.0%
GME	C	0.1%	0.01%	0.01%
GOOGL	C	0.09%	1.1%	0.09%
GPN	B	0.09%	0.0%	0.0%
GS	A	0.5%	0.38%	0.38%
HASI	D	0.13%	0.01%	0.01%
HCA	F	0.35%	0.02%	0.02%
HEES	B	0.06%	0.0%	0.0%
HIMS	B	0.19%	0.02%	0.02%
HUMA	F	0.04%	0.0%	0.0%
HURN	B	0.08%	0.0%	0.0%
IAS	C	0.05%	0.0%	0.0%
IBM	C	0.32%	0.27%	0.27%
IBP	D	0.14%	0.0%	0.0%
ICE	C	0.24%	0.1%	0.1%
IIPR	D	0.06%	0.02%	0.02%
INSP	D	0.1%	0.01%	0.01%
INTA	A	0.11%	0.01%	0.01%
IOVA	F	0.06%	0.0%	0.0%
IR	B	0.17%	0.13%	0.13%
ISRG	A	0.27%	0.18%	0.18%
ITCI	C	0.09%	0.03%	0.03%
ITRI	B	0.22%	0.01%	0.01%
ITW	B	0.08%	0.14%	0.08%
JAMF	F	0.02%	0.0%	0.0%
JANX	C	0.1%	0.0%	0.0%
JPM	A	0.39%	0.95%	0.39%
KD	B	0.05%	0.01%	0.01%
KEX	C	0.17%	0.01%	0.01%
KKR	A	0.49%	0.11%	0.11%
KLAC	D	0.07%	0.04%	0.04%
KMB	D	0.08%	0.11%	0.08%
KO	D	0.15%	0.29%	0.15%
KYMR	D	0.11%	0.01%	0.01%
LCID	F	0.03%	0.0%	0.0%
LIN	D	0.08%	0.32%	0.08%
LLY	F	0.14%	0.7%	0.14%
LMND	B	0.15%	0.0%	0.0%
LNTH	D	0.14%	0.03%	0.03%
LNW	D	0.04%	0.03%	0.03%
LVS	C	0.24%	0.04%	0.04%
LYFT	C	0.06%	0.0%	0.0%
MA	C	0.09%	0.43%	0.09%
MARA	C	0.05%	0.01%	0.01%
MBIN	D	0.08%	0.01%	0.01%
MCD	D	0.16%	0.23%	0.16%
MCO	B	0.25%	0.02%	0.02%
META	D	0.33%	1.43%	0.33%
MGNI	A	0.08%	0.01%	0.01%
MLNK	B	0.03%	0.0%	0.0%
MMC	B	0.17%	0.17%	0.17%
MO	A	0.19%	0.09%	0.09%
MOD	A	0.2%	0.05%	0.05%
MPWR	F	0.11%	0.02%	0.02%
MSTR	C	0.19%	0.05%	0.05%
MTCH	D	0.1%	0.0%	0.0%
MU	D	0.08%	0.07%	0.07%
NCLH	B	0.16%	0.0%	0.0%
NEE	D	0.31%	0.25%	0.25%
NEO	C	0.05%	0.0%	0.0%
NFLX	A	0.29%	0.37%	0.29%
NMIH	D	0.09%	0.0%	0.0%
NOW	A	0.38%	0.16%	0.16%
NPAB	B	0.09%	0.0%	0.0%
NRIX	D	0.07%	0.0%	0.0%
NSSC	D	0.02%	0.0%	0.0%
NTAP	C	0.24%	0.1%	0.1%
NTRA	B	0.25%	0.0%	0.0%
NVAX	F	0.04%	0.0%	0.0%
NVDA	C	0.39%	4.01%	0.39%
NXRT	B	0.05%	0.07%	0.05%
OII	B	0.08%	0.02%	0.02%
ORA	B	0.09%	0.01%	0.01%
ORCL	B	0.37%	0.43%	0.37%
ORLY	B	0.18%	0.22%	0.18%
OSCR	D	0.09%	0.0%	0.0%
OSW	A	0.11%	0.01%	0.01%
OTIS	C	0.16%	0.04%	0.04%
PANW	C	0.19%	0.11%	0.11%
PAR	B	0.03%	0.0%	0.0%
PAYO	A	0.17%	0.0%	0.0%
PCG	A	0.36%	0.0%	0.0%
PEG	A	0.34%	0.15%	0.15%
PG	A	0.08%	0.49%	0.08%
PGR	A	0.43%	0.17%	0.17%
PH	A	0.37%	0.17%	0.17%
PHR	F	0.04%	0.01%	0.01%
PLAY	D	0.03%	0.01%	0.01%
PLMR	B	0.11%	0.01%	0.01%
PLTR	B	0.69%	0.13%	0.13%
PM	B	0.37%	0.21%	0.21%
PODD	C	0.19%	0.0%	0.0%
POWL	C	0.16%	0.01%	0.01%
PRCT	B	0.14%	0.0%	0.0%
PSA	D	0.23%	0.22%	0.22%
PTCT	B	0.1%	0.01%	0.01%
PTGX	C	0.11%	0.0%	0.0%
PTON	B	0.11%	0.01%	0.01%
QCOM	F	0.08%	0.27%	0.08%
QTWO	A	0.25%	0.03%	0.03%
RBLX	C	0.39%	0.02%	0.02%
RCL	A	0.55%	0.04%	0.04%
RDNT	B	0.24%	0.01%	0.01%
REG	B	0.09%	0.0%	0.0%
RIVN	F	0.15%	0.01%	0.01%
RKLB	B	0.24%	0.02%	0.02%
RLAY	F	0.02%	0.0%	0.0%
RNA	D	0.11%	0.01%	0.01%
RNG	B	0.08%	0.0%	0.0%
ROIV	C	0.04%	0.0%	0.0%
ROST	C	0.16%	0.17%	0.16%
RUN	F	0.09%	0.0%	0.0%
RVMD	C	0.1%	0.0%	0.0%
RXST	F	0.04%	0.0%	0.0%
RYTM	C	0.13%	0.01%	0.01%
S	B	0.14%	0.0%	0.0%
SABR	C	0.1%	0.0%	0.0%
SEMR	B	0.08%	0.01%	0.01%
SHW	A	0.33%	0.03%	0.03%
SITM	B	0.08%	0.0%	0.0%
SO	D	0.24%	0.07%	0.07%
SOFI	A	0.3%	0.01%	0.01%
SOUN	C	0.03%	0.0%	0.0%
SPG	B	0.18%	0.15%	0.15%
SPGI	C	0.24%	0.24%	0.24%
SYK	C	0.09%	0.2%	0.09%
TBBK	B	0.13%	0.03%	0.03%
TDG	D	0.3%	0.01%	0.01%
TGI	B	0.03%	0.01%	0.01%
TGTX	B	0.15%	0.02%	0.02%
THR	B	0.02%	0.01%	0.01%
TJX	A	0.25%	0.35%	0.25%
TMDX	F	0.09%	0.02%	0.02%
TMUS	B	0.39%	0.07%	0.07%
TNDM	F	0.05%	0.0%	0.0%
TOST	B	0.23%	0.02%	0.02%
TRUP	B	0.15%	0.0%	0.0%
TSLA	B	0.22%	1.01%	0.22%
TT	A	0.44%	0.19%	0.19%
TTD	B	0.26%	0.05%	0.05%
TWST	D	0.06%	0.01%	0.01%
U	C	0.03%	0.01%	0.01%
UBER	D	0.23%	0.13%	0.13%
UMH	C	0.05%	0.09%	0.05%
URI	B	0.43%	0.02%	0.02%
USLM	A	0.14%	0.01%	0.01%
VCYT	B	0.13%	0.0%	0.0%
VERX	B	0.09%	0.02%	0.02%
VITL	D	0.08%	0.0%	0.0%
VLTO	D	0.23%	0.04%	0.04%
VRNS	D	0.11%	0.0%	0.0%
VRT	B	0.52%	0.07%	0.07%
VRTX	F	0.08%	0.07%	0.07%
WDAY	B	0.09%	0.02%	0.02%
WM	A	0.09%	0.22%	0.09%
WMB	A	0.21%	0.08%	0.08%
WRBY	B	0.07%	0.0%	0.0%
WTTR	B	0.09%	0.03%	0.03%
WULF	C	0.14%	0.0%	0.0%
XPRO	F	0.02%	0.0%	0.0%
YOU	D	0.09%	0.0%	0.0%
ZETA	D	0.14%	0.01%	0.01%
ZTS	D	0.07%	0.09%	0.07%

FAD Overweight 372 Positions Relative to SPGM

Symbol	Grade	Weight
TRGP	B	0.57%
VST	B	0.52%
GDDY	A	0.5%
HOOD	B	0.5%
EME	C	0.49%
HWM	A	0.48%
PWR	A	0.46%
WAB	B	0.45%
HEI	B	0.44%
NRG	B	0.43%
CPNG	D	0.42%
VTR	C	0.42%
UTHR	C	0.42%
AMP	A	0.41%
NTRS	A	0.41%
LYV	A	0.41%
IRM	D	0.41%
GRMN	B	0.4%
FCNCA	A	0.4%
THC	D	0.39%
TPL	A	0.39%
ACGL	D	0.37%
MSI	B	0.37%
BRO	B	0.36%
GEN	B	0.36%
LII	A	0.35%
CTAS	B	0.35%
RMD	C	0.33%
ERIE	D	0.32%
APO	B	0.32%
BAH	F	0.29%
GWW	B	0.28%
CASY	A	0.27%
HLT	A	0.27%
SFM	A	0.27%
NDAQ	A	0.27%
DECK	A	0.27%
HUBB	B	0.26%
AJG	B	0.26%
BR	A	0.26%
WELL	A	0.26%
WSO	A	0.26%
PIPR	B	0.25%
TYL	B	0.25%
ALSN	B	0.25%
HLNE	B	0.24%
CORT	B	0.24%
MANH	D	0.24%
FIX	A	0.24%
CSL	C	0.24%
SFBS	B	0.24%
KTB	B	0.23%
CSWI	A	0.23%
CRS	A	0.23%
TSCO	D	0.23%
IBKR	A	0.22%
EXEL	B	0.22%
KNF	A	0.22%
ACIW	B	0.22%
XYL	D	0.22%
CW	B	0.22%
MOG.A	B	0.22%
CVLT	B	0.22%
EFX	F	0.21%
DY	D	0.21%
ENSG	D	0.21%
EWBC	A	0.21%
IOT	A	0.21%
CPAY	A	0.2%
AIT	A	0.2%
DVA	B	0.2%
LTH	C	0.2%
FFIN	B	0.19%
PSN	D	0.19%
GMED	A	0.19%
COKE	C	0.19%
MAR	B	0.19%
TPG	A	0.19%
EAT	A	0.19%
EXLS	B	0.19%
HLI	B	0.19%
PEGA	A	0.19%
MMSI	B	0.18%
RSG	A	0.18%
DOV	A	0.18%
GWRE	A	0.18%
ATI	D	0.18%
RL	B	0.18%
CRVL	A	0.18%
ARES	A	0.18%
TTEK	F	0.18%
SLG	B	0.18%
FRPT	B	0.18%
TXRH	C	0.18%
CACI	D	0.18%
ROL	B	0.17%
TKO	B	0.17%
CBOE	B	0.17%
AZO	C	0.17%
ADC	B	0.17%
ITT	A	0.17%
EHC	B	0.17%
ITGR	B	0.17%
IT	C	0.17%
EXP	A	0.17%
ROAD	A	0.16%
IDCC	A	0.16%
HRB	D	0.16%
IESC	B	0.16%
BFAM	D	0.16%
FSS	B	0.16%
VICI	C	0.16%
CBT	C	0.16%
BMI	B	0.16%
PRIM	A	0.16%
AVAV	D	0.16%
BCO	D	0.16%
CRDO	B	0.16%
BWXT	B	0.15%
AWI	A	0.15%
BLD	D	0.15%
WSM	B	0.15%
GVA	A	0.15%
AYI	B	0.15%
KAI	A	0.15%
IBOC	A	0.15%
PLNT	A	0.15%
WWW	B	0.15%
O	D	0.15%
STRL	B	0.15%
EXR	D	0.15%
PI	D	0.14%
FTDR	A	0.14%
FFIV	B	0.14%
SCI	B	0.14%
STEP	B	0.14%
WHD	B	0.14%
CNK	B	0.14%
ATGE	B	0.14%
PJT	A	0.14%
MCY	A	0.14%
HOMB	A	0.14%
PRI	A	0.14%
ONB	B	0.14%
LRN	A	0.14%
SMG	D	0.14%
FLS	B	0.14%
QCRH	A	0.14%
CLH	B	0.13%
BDC	B	0.13%
REVG	B	0.13%
ACLX	C	0.13%
GSHD	A	0.13%
BOX	B	0.13%
TRN	C	0.13%
CNS	B	0.13%
TW	A	0.13%
RYAN	B	0.13%
OLLI	D	0.12%
HWKN	B	0.12%
NYT	C	0.12%
WYNN	D	0.12%
NHC	C	0.12%
DSGR	D	0.12%
SKWD	A	0.12%
SLVM	B	0.12%
DKS	C	0.12%
AMRX	C	0.12%
CALM	A	0.12%
OHI	C	0.12%
SBRA	C	0.12%
HNI	B	0.12%
PBI	B	0.12%
SKYW	B	0.12%
WWD	B	0.12%
HALO	F	0.12%
LMAT	A	0.11%
DTM	B	0.11%
MWA	B	0.11%
PRK	B	0.11%
NBHC	B	0.11%
PRM	C	0.11%
LPLA	A	0.11%
VCTR	B	0.11%
SYBT	B	0.11%
DORM	B	0.11%
INSM	C	0.11%
CWAN	B	0.11%
AGIO	C	0.11%
SATS	D	0.11%
SGBX	F	0.11%
OUT	A	0.1%
ESAB	B	0.1%
LFST	C	0.1%
AORT	B	0.1%
SMTC	B	0.1%
WING	D	0.1%
RARE	D	0.1%
PCTY	B	0.1%
CBSH	A	0.1%
CCOI	B	0.1%
CRUS	D	0.1%
MIRM	B	0.1%
CRAI	B	0.1%
MNKD	C	0.1%
CFR	B	0.1%
TGLS	B	0.1%
CHWY	B	0.1%
EEFT	B	0.09%
CHDN	B	0.09%
IRT	A	0.09%
RHP	B	0.09%
DBX	B	0.09%
ATR	B	0.09%
PAYX	C	0.09%
MKTX	D	0.09%
BRX	A	0.09%
MSGS	A	0.09%
MKL	A	0.09%
LITE	B	0.09%
CWST	A	0.09%
AXTA	A	0.09%
WTM	A	0.09%
RLI	B	0.09%
PRGS	A	0.09%
FBP	B	0.09%
CUBE	D	0.08%
SBAC	D	0.08%
UE	C	0.08%
CHCO	B	0.08%
GLPI	C	0.08%
HRMY	D	0.08%
LAMR	D	0.08%
ESE	B	0.08%
SHAK	C	0.08%
GPK	C	0.08%
GAP	C	0.08%
CPT	B	0.08%
BLKB	B	0.08%
WAT	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%
KNSL	B	0.08%
GABC	B	0.08%
CARG	C	0.08%
MSCI	C	0.08%
AVB	B	0.08%
BCPC	B	0.08%
ESS	B	0.08%
KRG	B	0.08%
UFPT	B	0.08%
PMT	D	0.07%
CWT	D	0.07%
AOS	F	0.07%
VRRM	D	0.07%
ESRT	C	0.07%
FND	C	0.07%
EXPO	D	0.07%
KN	B	0.07%
OSIS	B	0.07%
AAT	B	0.07%
FCN	D	0.07%
CCI	D	0.07%
AZZ	B	0.07%
KTOS	B	0.07%
GFF	A	0.07%
MGEE	C	0.06%
DRVN	B	0.06%
GTLS	B	0.06%
TNL	A	0.06%
AROC	B	0.06%
ICFI	F	0.06%
HLIT	D	0.06%
KNTK	B	0.06%
NSA	D	0.06%
AMPH	D	0.06%
MTD	D	0.06%
BRC	D	0.06%
NHI	D	0.06%
GTX	D	0.05%
AESI	B	0.05%
SXT	B	0.05%
JJSF	B	0.05%
CHH	A	0.05%
KW	B	0.05%
TRMB	B	0.05%
SCS	C	0.05%
FCPT	C	0.05%
CDP	C	0.05%
LOPE	B	0.05%
SWI	B	0.05%
GATX	A	0.05%
OCUL	D	0.05%
NTNX	A	0.05%
GTY	B	0.05%
OWL	A	0.05%
CPK	A	0.05%
MASI	A	0.05%
DAY	B	0.05%
MAC	B	0.05%
WDFC	B	0.05%
SKT	B	0.05%
BANC	A	0.05%
AGM	C	0.05%
LGND	B	0.05%
SXI	B	0.05%
BKD	D	0.05%
LKFN	B	0.05%
EPAC	B	0.05%
PAYC	B	0.05%
NNN	D	0.04%
CHE	D	0.04%
MEDP	D	0.04%
EGP	F	0.04%
SSD	D	0.04%
FR	C	0.04%
CDRE	D	0.04%
MYGN	F	0.04%
DNLI	D	0.04%
IPAR	B	0.04%
NEU	C	0.04%
UDR	B	0.04%
CNM	D	0.04%
H	B	0.04%
AM	A	0.04%
ESI	A	0.04%
DCI	B	0.04%
ALX	D	0.04%
RGLD	C	0.04%
EPR	D	0.04%
ELME	D	0.04%
MORN	B	0.04%
MAIN	A	0.04%
CRNX	C	0.04%
HLX	B	0.04%
ANIP	F	0.04%
RBC	A	0.04%
GOLF	B	0.04%
APAM	B	0.03%
SMPL	B	0.03%
ACAD	D	0.03%
CTS	C	0.03%
WABC	B	0.03%
CBZ	B	0.03%
TDW	F	0.03%
BRKR	D	0.03%
MIR	A	0.03%
TECH	D	0.03%
LPG	F	0.02%
VECO	F	0.02%
AZTA	D	0.02%
JOE	F	0.02%
GNL	F	0.02%
PZZA	D	0.02%
TNC	D	0.02%
FOLD	F	0.02%
RRR	D	0.02%
IRDM	D	0.02%
BXMT	C	0.02%
AWR	B	0.02%
YELP	C	0.02%
WEN	D	0.02%
STRA	C	0.02%
LTC	B	0.02%
TR	B	0.02%
BL	B	0.02%
CLB	B	0.02%

FAD Underweight 735 Positions Relative to SPGM

Symbol	Grade	Weight
MSFT	F	-3.35%
GOOG	C	-1.1%
TSM	B	-0.99%
V	A	-0.7%
UNH	C	-0.68%
XOM	B	-0.68%
HD	A	-0.57%
BAC	A	-0.53%
WFC	A	-0.44%
WMT	A	-0.41%
JNJ	D	-0.39%
INTU	C	-0.38%
TMO	F	-0.38%
TXN	C	-0.37%
CSCO	B	-0.36%
ABBV	D	-0.36%
CVX	A	-0.35%
ADBE	C	-0.34%
ABT	B	-0.34%
RTX	C	-0.33%
MS	A	-0.32%
LOW	D	-0.31%
MRK	F	-0.31%
DIS	B	-0.3%
ACN	C	-0.28%
DHR	F	-0.28%
CB	C	-0.27%
UNP	C	-0.26%
PEP	F	-0.26%
AFL	B	-0.26%
CMI	A	-0.26%
C	A	-0.26%
TM	D	-0.26%
MCK	B	-0.25%
LMT	D	-0.25%
AMAT	F	-0.24%
PLD	D	-0.23%
AMD	F	-0.23%
MDT	D	-0.23%
SONY	B	-0.22%
HON	B	-0.22%
NVS	D	-0.22%
GD	F	-0.22%
EMR	A	-0.21%
TRV	B	-0.21%
T	A	-0.21%
BABA	D	-0.2%
SBUX	A	-0.2%
MET	A	-0.2%
DFS	B	-0.2%
GILD	C	-0.19%
ABBV	D	-0.19%
CSX	B	-0.19%
HSBH	B	-0.19%
SCHW	B	-0.18%
CMCSA	B	-0.18%
FDX	B	-0.18%
JCI	C	-0.18%
COP	C	-0.18%
NKE	D	-0.18%
DE	A	-0.18%
MPC	D	-0.17%
NSC	B	-0.17%
MUFG	B	-0.17%
PNC	B	-0.17%
ELV	F	-0.17%
IBN	C	-0.17%
PFE	D	-0.17%
PRU	A	-0.16%
AEP	D	-0.16%
EOG	A	-0.16%
INFY	B	-0.16%
ADI	D	-0.16%
BDX	F	-0.16%
NOC	D	-0.16%
UL	D	-0.16%
GLW	B	-0.15%
PYPL	B	-0.15%
COF	B	-0.15%
VZ	C	-0.14%
INTC	D	-0.14%
BMY	B	-0.14%
SHOP	B	-0.14%
CVS	D	-0.13%
CTSH	B	-0.13%
CNI	D	-0.13%
MTB	A	-0.13%
RDY	F	-0.12%
ROIC	A	-0.12%
EIX	B	-0.12%
HES	B	-0.12%
KEYS	A	-0.12%
SYY	B	-0.12%
USB	A	-0.12%
TGT	F	-0.12%
CLX	B	-0.12%
MKC	D	-0.11%
YUM	B	-0.11%
UPS	C	-0.11%
HPQ	B	-0.11%
TD	F	-0.11%
VLO	C	-0.11%
HSY	F	-0.11%
MELI	D	-0.1%
DUK	C	-0.1%
EBAY	D	-0.1%
CHTR	C	-0.1%
MMM	D	-0.1%
BA	F	-0.1%
CHRW	C	-0.09%
REGN	F	-0.09%
CME	A	-0.09%
BLK	C	-0.09%
GM	B	-0.09%
AZN	D	-0.08%
CI	F	-0.08%
STT	A	-0.08%
DD	D	-0.08%
PDD	F	-0.08%
SMFG	B	-0.08%
ADM	D	-0.08%
APD	A	-0.08%
TSN	B	-0.08%
CHT	D	-0.08%
PPL	B	-0.08%
BCS	C	-0.07%
K	A	-0.07%
DEO	F	-0.07%
LYB	F	-0.07%
GEV	B	-0.07%
MFG	B	-0.07%
FE	C	-0.07%
CDNS	B	-0.07%
SJM	D	-0.07%
BIIB	F	-0.07%
HPE	B	-0.07%
MRO	B	-0.07%
TCOM	B	-0.07%
F	C	-0.07%
SLB	C	-0.07%
CTVA	C	-0.07%
DEA	D	-0.06%
UMC	F	-0.06%
DOW	F	-0.06%
SYF	B	-0.06%
JNPR	F	-0.06%
EQR	B	-0.06%
FTV	C	-0.06%
LRCX	F	-0.06%
CARR	D	-0.06%
BX	A	-0.06%
WIT	A	-0.06%
STX	D	-0.06%
VALE	F	-0.06%
EXC	C	-0.06%
WDC	D	-0.06%
HDB	C	-0.06%
STLA	F	-0.05%
DOC	D	-0.05%
ITUB	F	-0.05%
OXY	D	-0.05%
HAL	C	-0.05%
NMR	B	-0.05%
GOOD	B	-0.05%
BEN	C	-0.05%
BAX	D	-0.05%
LYG	F	-0.05%
E	F	-0.05%
GIS	D	-0.05%
MRVL	B	-0.05%
MDLZ	F	-0.05%
PSX	C	-0.05%
FOXA	B	-0.05%
KVUE	A	-0.04%
AA	B	-0.04%
YUMC	C	-0.04%
KB	B	-0.04%
DLTR	F	-0.04%
FCX	D	-0.04%
LW	C	-0.04%
SE	B	-0.04%
SNPS	B	-0.04%
ABNB	C	-0.04%
CAG	D	-0.04%
EL	F	-0.04%
PKX	F	-0.04%
TPR	B	-0.04%
HMC	F	-0.03%
FTI	A	-0.03%
AXNX	C	-0.03%
DDOG	A	-0.03%
NU	C	-0.03%
TAC	B	-0.03%
BKR	B	-0.03%
BIDU	F	-0.03%
TEAM	A	-0.03%
BBD	D	-0.03%
PBR	C	-0.03%
NET	B	-0.03%
SQ	B	-0.03%
BRSP	B	-0.03%
KMI	A	-0.03%
DX	B	-0.03%
NEM	D	-0.03%
LDOS	C	-0.03%
SNOW	C	-0.03%
NUE	C	-0.02%
VEEV	C	-0.02%
ACEL	C	-0.02%
GGB	C	-0.02%
DXCM	D	-0.02%
PARA	C	-0.02%
GOLD	D	-0.02%
ABEV	F	-0.02%
SKY	A	-0.02%
AHH	D	-0.02%
CHCT	C	-0.02%
TTGT	C	-0.02%
MOS	F	-0.02%
ZM	B	-0.02%
LULU	C	-0.02%
MDB	C	-0.02%
ZS	C	-0.02%
HUBS	A	-0.02%
IFF	D	-0.02%
CHX	C	-0.02%
CF	B	-0.02%
HOV	D	-0.02%
WBD	C	-0.02%
LI	F	-0.02%
BABA	D	-0.02%
GEHC	F	-0.02%
CFG	B	-0.02%
SHG	D	-0.02%
MT	B	-0.02%
MITK	C	-0.01%
AI	B	-0.01%
LASR	D	-0.01%
CYH	F	-0.01%
PRTA	F	-0.01%
ACMR	F	-0.01%
PACB	F	-0.01%
CTLP	B	-0.01%
ODFL	B	-0.01%
SMR	B	-0.01%
NR	B	-0.01%
ZLAB	C	-0.01%
CCO	C	-0.01%
FRO	F	-0.01%
PGC	C	-0.01%
M	D	-0.01%
LC	A	-0.01%
FLYW	C	-0.01%
PCT	C	-0.01%
BASE	C	-0.01%
GDYN	B	-0.01%
KOP	C	-0.01%
EXPI	C	-0.01%
WSR	A	-0.01%
GATO	D	-0.01%
DXC	B	-0.01%
OMI	F	-0.01%
LAZR	F	-0.01%
PHI	D	-0.01%
SLP	D	-0.01%
CELH	F	-0.01%
NOV	C	-0.01%
IMVT	F	-0.01%
IDYA	F	-0.01%
PIXY	F	-0.01%
JKS	F	-0.01%
PACK	B	-0.01%
PTEN	C	-0.01%
KC	A	-0.01%
BTU	B	-0.01%
PCH	D	-0.01%
RLX	C	-0.01%
AUPH	B	-0.01%
GTLB	B	-0.01%
SMAR	A	-0.01%
VMEO	B	-0.01%
PNR	A	-0.01%
SRPT	D	-0.01%
VICR	B	-0.01%
CLNE	D	-0.01%
ALEX	C	-0.01%
NXPI	D	-0.01%
RDFN	D	-0.01%
BGNE	D	-0.01%
YETI	C	-0.01%
ALGN	D	-0.01%
GNRC	B	-0.01%
PNTG	D	-0.01%
EXAS	D	-0.01%
EFC	C	-0.01%
ENPH	F	-0.01%
DQ	F	-0.01%
CZR	F	-0.01%
RCUS	F	-0.01%
FBK	B	-0.01%
BBWI	D	-0.01%
BILL	A	-0.01%
RIOT	C	-0.01%
CCB	A	-0.01%
LWLG	F	-0.01%
SID	F	-0.01%
MCB	B	-0.01%
ULH	B	-0.01%
LIND	C	-0.01%
AMSC	B	-0.01%
MCRI	A	-0.01%
INMD	C	-0.01%
PEN	B	-0.01%
LOB	B	-0.01%
ROKU	D	-0.01%
BZH	B	-0.01%
DH	D	-0.01%
MNDY	C	-0.01%
XPO	B	-0.01%
TREX	C	-0.01%
CCS	D	-0.01%
FUTU	D	-0.01%
BE	B	-0.01%
CASH	A	-0.01%
OKTA	C	-0.01%
SDGR	C	-0.01%
ARWR	F	-0.01%
TREE	F	-0.01%
AKO.A	F	-0.01%
ENS	D	-0.01%
VSTO	A	-0.01%
LUMN	C	-0.01%
TFIN	A	-0.01%
MDGL	B	-0.01%
APA	D	-0.01%
AAOI	B	-0.01%
SCCO	F	-0.01%
TME	D	-0.01%
CLDT	B	-0.01%
MRC	B	-0.01%
PBF	D	-0.01%
Z	A	-0.01%
ALB	C	-0.01%
CLBT	B	-0.01%
NBR	C	-0.01%
NIO	F	-0.01%
SMCI	F	-0.01%
TTI	C	-0.01%
AKRO	B	-0.01%
FLNG	B	-0.01%
GMS	B	-0.01%
HSTM	B	-0.01%
BHF	B	-0.01%
LBRDK	C	-0.01%
FIS	C	-0.01%
SQ	B	-0.01%
TDOC	C	-0.01%
RVLV	B	-0.01%
PAY	B	-0.01%
SNAP	C	-0.01%
UPST	B	-0.01%
MHO	D	-0.01%
BBIO	F	-0.01%
ABR	C	-0.01%
GSAT	C	-0.01%
CNH	C	-0.01%
KOS	F	-0.01%
KSS	F	-0.01%
ERJ	B	-0.01%
BEKE	D	-0.01%
DVAX	C	-0.01%
VNT	B	-0.01%
XPEV	C	-0.01%
NWSA	B	-0.01%
EPAM	C	-0.01%
ILMN	D	-0.01%
GMRE	F	-0.01%
TWLO	A	-0.01%
VIPS	F	-0.01%
ON	D	-0.01%
COMP	B	-0.01%
DDD	C	-0.01%
VTRS	A	-0.01%
SOLV	C	-0.01%
MRNA	F	-0.01%
MATX	C	-0.01%
TAL	F	-0.01%
GRBK	D	-0.01%
TEVA	D	-0.01%
IMXI	B	-0.01%
WBA	F	-0.01%
PINS	D	-0.01%
DVN	F	-0.01%
BLDR	D	-0.01%
DYN	F	-0.01%
SRRK	B	-0.01%
MTDR	B	-0.01%
ALLY	C	-0.01%
KRYS	B	-0.0%
LI	F	-0.0%
AGL	F	-0.0%
XPEV	C	-0.0%
SCLX	F	-0.0%
SMWB	B	-0.0%
OEC	C	-0.0%
MP	B	-0.0%
JOBY	B	-0.0%
CRCT	F	-0.0%
TH	C	-0.0%
WOLF	F	-0.0%
FLWS	F	-0.0%
BMBL	C	-0.0%
DAN	D	-0.0%
CGEM	F	-0.0%
MLCO	F	-0.0%
SEDG	F	-0.0%
HDSN	F	-0.0%
MRVI	F	-0.0%
MGPI	F	-0.0%
BOC	C	-0.0%
ZEUS	C	-0.0%
SHEN	F	-0.0%
SAGE	F	-0.0%
DENN	D	-0.0%
SPRY	D	-0.0%
PKST	D	-0.0%
OVV	B	-0.0%
KE	C	-0.0%
LGIH	D	-0.0%
FLGT	F	-0.0%
FIGS	F	-0.0%
ITOS	F	-0.0%
LSCC	D	-0.0%
OLPX	D	-0.0%
APTV	D	-0.0%
MXL	C	-0.0%
GRPN	F	-0.0%
SNCY	C	-0.0%
MNSO	F	-0.0%
VRE	B	-0.0%
PRVA	B	-0.0%
FNA	C	-0.0%
MAX	F	-0.0%
EYE	C	-0.0%
RENB	F	-0.0%
ORLA	C	-0.0%
PUMP	B	-0.0%
TPB	B	-0.0%
PD	C	-0.0%
KRNT	C	-0.0%
RGNX	F	-0.0%
SVC	F	-0.0%
CHRD	D	-0.0%
REPL	B	-0.0%
VIR	D	-0.0%
PARR	D	-0.0%
NABL	F	-0.0%
CEVA	B	-0.0%
LYEL	F	-0.0%
BVN	F	-0.0%
CTKB	C	-0.0%
FSBC	B	-0.0%
HOG	D	-0.0%
CRSR	C	-0.0%
SGRY	F	-0.0%
OLO	B	-0.0%
OLMA	F	-0.0%
TMCI	D	-0.0%
PFC	A	-0.0%
GOGO	C	-0.0%
COTY	F	-0.0%
MBAVU	D	-0.0%
ICHR	C	-0.0%
IRTC	D	-0.0%
HE	C	-0.0%
SWBI	C	-0.0%
CNDT	C	-0.0%
ELVN	D	-0.0%
MAT	D	-0.0%
ZUO	B	-0.0%
LAND	F	-0.0%
TLRY	F	-0.0%
APLS	D	-0.0%
ETNB	C	-0.0%
KRUS	B	-0.0%
RIG	D	-0.0%
LILAK	D	-0.0%
SAVA	D	-0.0%
CECO	A	-0.0%
HAE	C	-0.0%
LPRO	C	-0.0%
CALX	D	-0.0%
SHLS	F	-0.0%
XPOF	C	-0.0%
CXM	C	-0.0%
THRM	D	-0.0%
CAR	C	-0.0%
GDS	C	-0.0%
PDFS	C	-0.0%
QFIN	B	-0.0%
QTRX	F	-0.0%
AOSL	C	-0.0%
AMRC	F	-0.0%
ESTA	D	-0.0%
SHC	F	-0.0%
THO	B	-0.0%
XHR	B	-0.0%
DJT	C	-0.0%
DBI	F	-0.0%
NCNO	B	-0.0%
ATRO	D	-0.0%
MQ	F	-0.0%
SM	B	-0.0%
PUBM	C	-0.0%
DNOW	B	-0.0%
ATEC	C	-0.0%
LESL	C	-0.0%
BROS	B	-0.0%
CLF	F	-0.0%
ENIC	D	-0.0%
NVRI	F	-0.0%
MDXG	B	-0.0%
UCTT	D	-0.0%
CUBI	C	-0.0%
AMRK	F	-0.0%
FDMT	F	-0.0%
LXRX	F	-0.0%
STAA	F	-0.0%
YMAB	F	-0.0%
MNTK	F	-0.0%
NARI	C	-0.0%
ATEN	B	-0.0%
DGII	B	-0.0%
UVV	B	-0.0%
HAYN	C	-0.0%
SIBN	F	-0.0%
MERC	F	-0.0%
VNET	B	-0.0%
ORIC	F	-0.0%
PRO	C	-0.0%
TASK	C	-0.0%
NNDM	F	-0.0%
IDT	B	-0.0%
VTLE	C	-0.0%
NOVA	F	-0.0%
HL	D	-0.0%
DHI	D	-0.0%
SANA	F	-0.0%
ULCC	D	-0.0%
SKE	C	-0.0%
HAYW	B	-0.0%
TITN	C	-0.0%
NEOG	F	-0.0%
GDRX	F	-0.0%
CYRX	F	-0.0%
PENN	C	-0.0%
FVRR	B	-0.0%
CDNA	D	-0.0%
AVNS	F	-0.0%
RVNC	F	-0.0%
NEXT	B	-0.0%
KRNY	B	-0.0%
MEG	F	-0.0%
SIGA	F	-0.0%
DHC	F	-0.0%
ATHM	D	-0.0%
EB	C	-0.0%
NTLA	F	-0.0%
FSLY	D	-0.0%
FIZZ	C	-0.0%
CNC	D	-0.0%
CYTK	F	-0.0%
RRC	B	-0.0%
PCVX	D	-0.0%
GLBE	B	-0.0%
RKT	F	-0.0%
NVCR	C	-0.0%
EMBC	C	-0.0%
TXG	F	-0.0%
VZIO	A	-0.0%
STOK	F	-0.0%
ZI	D	-0.0%
HTHT	D	-0.0%
YY	C	-0.0%
UWMC	D	-0.0%
AR	B	-0.0%
METC	C	-0.0%
ADNT	F	-0.0%
BIGC	C	-0.0%
EWCZ	F	-0.0%
EYPT	F	-0.0%
WGO	C	-0.0%
FC	F	-0.0%
GNK	D	-0.0%
PHAT	F	-0.0%
ARRY	C	-0.0%
OSPN	A	-0.0%
SNDX	F	-0.0%
BHB	B	-0.0%
FIVN	C	-0.0%
CFLT	B	-0.0%
HRI	B	-0.0%
MTW	C	-0.0%
CRMT	C	-0.0%
DFH	D	-0.0%
IIIV	C	-0.0%
UNIT	B	-0.0%
WOOF	D	-0.0%
INN	D	-0.0%
GDOT	D	-0.0%
CDMO	B	-0.0%
EGBN	B	-0.0%
ARCT	F	-0.0%
HUYA	F	-0.0%
MOMO	D	-0.0%
NX	C	-0.0%
INSW	F	-0.0%
TRNS	D	-0.0%
ALT	C	-0.0%
FROG	C	-0.0%
ACLS	F	-0.0%
INDI	C	-0.0%
FRSH	C	-0.0%
FATE	F	-0.0%
ATUS	C	-0.0%
BXC	B	-0.0%
KHC	F	-0.0%
QNST	B	-0.0%
ERAS	C	-0.0%
GXO	B	-0.0%
GRAB	B	-0.0%
IQ	F	-0.0%
ALEC	F	-0.0%
RCKT	F	-0.0%
BRZE	C	-0.0%
VSCO	B	-0.0%
DIN	C	-0.0%
FUBO	F	-0.0%
TUYA	F	-0.0%
RXRX	F	-0.0%
VPG	D	-0.0%
ETSY	D	-0.0%
HST	C	-0.0%
CCBG	B	-0.0%
LMB	A	-0.0%
ATKR	C	-0.0%
BYND	F	-0.0%
CERT	F	-0.0%
KIM	A	-0.0%
CSTL	D	-0.0%
ESTC	C	-0.0%
PFSI	D	-0.0%
ARVN	D	-0.0%
YEXT	A	-0.0%
ELF	C	-0.0%
UEC	B	-0.0%
NUVL	D	-0.0%
NUVB	C	-0.0%
SPT	C	-0.0%
DCO	C	-0.0%
KLG	C	-0.0%
IIIN	C	-0.0%
JELD	F	-0.0%
PLPC	B	-0.0%
CSGP	D	-0.0%
SPR	D	-0.0%
TTWO	A	-0.0%
CASS	B	-0.0%
RGEN	D	-0.0%
SAM	C	-0.0%
VRDN	D	-0.0%
ALLO	F	-0.0%
JBI	F	-0.0%
SITE	D	-0.0%
ENFN	A	-0.0%
IBUY	A	-0.0%
LSPD	C	-0.0%
RLJ	C	-0.0%
PRG	C	-0.0%
HCP	B	-0.0%
RPAY	D	-0.0%
CIG	C	-0.0%
AMPS	C	-0.0%
CHGX	A	-0.0%
CC	C	-0.0%
CLOV	D	-0.0%
ACHR	B	-0.0%
PLUG	F	-0.0%
EDIT	F	-0.0%
KEP	B	-0.0%
VVI	C	-0.0%
REZI	A	-0.0%
PL	A	-0.0%
PATH	C	-0.0%
DMRC	C	-0.0%
BZ	F	-0.0%
BILI	D	-0.0%
PLAB	C	-0.0%
CIB	B	-0.0%
RAMP	C	-0.0%
OGN	D	-0.0%
QS	F	-0.0%
WRLD	C	-0.0%
CHPT	F	-0.0%
NVT	B	-0.0%
EVRI	A	-0.0%
EQT	B	-0.0%
APLD	A	-0.0%
DRH	B	-0.0%
KREF	D	-0.0%
EXTR	B	-0.0%
BLND	B	-0.0%
AMG	B	-0.0%
UPWK	B	-0.0%
ROCK	C	-0.0%
HSII	B	-0.0%
LEU	C	-0.0%
VKTX	F	-0.0%
OPEN	D	-0.0%
ASAN	C	-0.0%
BJRI	B	-0.0%
REPX	A	-0.0%
LEGH	D	-0.0%
TIGR	D	-0.0%
IDXX	F	-0.0%
AMR	C	-0.0%
WIX	B	-0.0%
SONO	C	-0.0%
SQM	F	-0.0%
W	F	-0.0%
MNMD	C	-0.0%
VERV	F	-0.0%
WEAV	B	-0.0%
XMTR	C	-0.0%
EA	A	-0.0%