FNDA vs. FNCL ETF Comparison

Comparison of Schwab Fundamental U.S. Small Company Index ETF (FNDA) to Fidelity MSCI Financials Index ETF (FNCL)

FNDA

Schwab Fundamental U.S. Small Company Index ETF

FNDA Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Small Company Index. The index selects, ranks, and weights securities by fundamental measures of company size - adjusted sales, retained operating cash flow, and dividends plus buybacks - rather than market capitalization. Under normal circumstances, the fund will invest at least 90% of its net assets in stocks included in the index. It may invest up to 10% of its net assets in securities not included in the index.

Grade (RS Rating)

Last Trade

$31.74

Average Daily Volume

495,811

Number of Holdings ^*

996

* may have additional holdings in another (foreign) market

FNCL

Fidelity MSCI Financials Index ETF

FNCL Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Financials Index. Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Financials Index, which represents the performance of the financial sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Financials Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$72.14

Average Daily Volume

112,716

Number of Holdings ^*

380

* may have additional holdings in another (foreign) market

Performance

Period	FNDA	FNCL
30 Days	5.80%	7.55%
60 Days	6.02%	11.91%
90 Days	6.78%	14.78%
12 Months	28.61%	47.47%

182 Overlapping Holdings

Symbol	Grade	Weight in FNDA	Weight in FNCL	Overlap
ABCB	B	0.13%	0.06%	0.06%
ABR	C	0.1%	0.03%	0.03%
AGM	B	0.03%	0.03%	0.03%
AGNC	C	0.19%	0.08%	0.08%
AGO	B	0.16%	0.06%	0.06%
AMBC	C	0.02%	0.01%	0.01%
AMSF	B	0.01%	0.01%	0.01%
APAM	B	0.15%	0.04%	0.04%
APO	B	0.16%	0.81%	0.16%
ARES	A	0.15%	0.39%	0.15%
ARI	C	0.08%	0.02%	0.02%
ASB	B	0.21%	0.05%	0.05%
AUB	B	0.07%	0.04%	0.04%
AX	B	0.11%	0.05%	0.05%
AXS	A	0.12%	0.09%	0.09%
BANF	B	0.02%	0.03%	0.02%
BANR	B	0.12%	0.03%	0.03%
BGC	C	0.12%	0.05%	0.05%
BHLB	B	0.01%	0.02%	0.01%
BKU	A	0.29%	0.04%	0.04%
BOH	B	0.14%	0.04%	0.04%
BOKF	B	0.11%	0.04%	0.04%
BRKL	B	0.02%	0.01%	0.01%
BRSP	C	0.02%	0.01%	0.01%
BSIG	A	0.07%	0.01%	0.01%
BUSE	B	0.06%	0.02%	0.02%
BXMT	C	0.14%	0.04%	0.04%
CACC	D	0.14%	0.04%	0.04%
CADE	B	0.22%	0.08%	0.08%
CASH	B	0.07%	0.02%	0.02%
CATY	B	0.17%	0.04%	0.04%
CBSH	B	0.21%	0.11%	0.11%
CBU	B	0.11%	0.04%	0.04%
CFFN	C	0.03%	0.01%	0.01%
CFR	B	0.23%	0.1%	0.1%
CHCO	B	0.05%	0.02%	0.02%
CMTG	F	0.03%	0.01%	0.01%
CNNE	B	0.03%	0.01%	0.01%
CNOB	B	0.02%	0.01%	0.01%
CNS	B	0.08%	0.03%	0.03%
CODI	B	0.05%	0.02%	0.02%
COIN	C	0.34%	0.66%	0.34%
COLB	B	0.19%	0.08%	0.08%
COOP	B	0.22%	0.08%	0.08%
CPF	B	0.03%	0.01%	0.01%
CUBI	B	0.07%	0.02%	0.02%
CVBF	A	0.11%	0.04%	0.04%
DBRG	F	0.18%	0.03%	0.03%
DFIN	D	0.06%	0.02%	0.02%
DHIL	B	0.02%	0.0%	0.0%
EBC	B	0.07%	0.04%	0.04%
ECPG	C	0.12%	0.01%	0.01%
EEFT	B	0.17%	0.06%	0.06%
EFSC	B	0.06%	0.03%	0.03%
EGBN	B	0.03%	0.01%	0.01%
EIG	B	0.09%	0.02%	0.02%
ENVA	B	0.19%	0.03%	0.03%
ERIE	D	0.06%	0.13%	0.06%
ESGR	B	0.05%	0.05%	0.05%
ESNT	F	0.15%	0.07%	0.07%
EVTC	B	0.03%	0.03%	0.03%
FBK	C	0.01%	0.03%	0.01%
FBNC	B	0.05%	0.02%	0.02%
FBP	C	0.06%	0.04%	0.04%
FBRT	D	0.04%	0.01%	0.01%
FCF	B	0.07%	0.02%	0.02%
FDS	B	0.21%	0.23%	0.21%
FFBC	B	0.11%	0.03%	0.03%
FFIN	B	0.09%	0.06%	0.06%
FHB	B	0.2%	0.05%	0.05%
FHI	B	0.11%	0.04%	0.04%
FIBK	B	0.11%	0.04%	0.04%
FNB	A	0.23%	0.08%	0.08%
FRME	B	0.09%	0.03%	0.03%
FULT	A	0.14%	0.04%	0.04%
GBCI	B	0.17%	0.08%	0.08%
GDOT	D	0.02%	0.01%	0.01%
HAFC	B	0.02%	0.01%	0.01%
HASI	D	0.02%	0.04%	0.02%
HFWA	C	0.02%	0.01%	0.01%
HLI	A	0.19%	0.12%	0.12%
HLNE	B	0.01%	0.09%	0.01%
HMN	B	0.07%	0.02%	0.02%
HOMB	A	0.1%	0.07%	0.07%
HOPE	C	0.12%	0.02%	0.02%
HTH	C	0.11%	0.02%	0.02%
HTLF	B	0.1%	0.04%	0.04%
HWC	B	0.21%	0.06%	0.06%
IBKR	A	0.11%	0.22%	0.11%
IBOC	B	0.11%	0.05%	0.05%
IBTX	B	0.09%	0.03%	0.03%
INDB	B	0.09%	0.04%	0.04%
KMPR	A	0.28%	0.06%	0.06%
KNSL	B	0.03%	0.13%	0.03%
KREF	C	0.02%	0.01%	0.01%
KRNY	C	0.02%	0.01%	0.01%
LADR	B	0.07%	0.02%	0.02%
LKFN	C	0.04%	0.02%	0.02%
MC	C	0.2%	0.06%	0.06%
MCY	A	0.14%	0.03%	0.03%
MKTX	D	0.14%	0.12%	0.12%
MORN	B	0.11%	0.12%	0.11%
MSBI	B	0.0%	0.01%	0.0%
NBHC	C	0.01%	0.02%	0.01%
NBTB	B	0.07%	0.03%	0.03%
NIC	B	0.0%	0.02%	0.0%
NMIH	C	0.07%	0.04%	0.04%
NNI	D	0.06%	0.02%	0.02%
NWBI	B	0.08%	0.02%	0.02%
OCFC	B	0.02%	0.02%	0.02%
OFG	B	0.04%	0.02%	0.02%
ONB	C	0.17%	0.09%	0.09%
OZK	B	0.2%	0.06%	0.06%
PB	B	0.23%	0.1%	0.1%
PEBO	B	0.0%	0.02%	0.0%
PFBC	B	0.0%	0.01%	0.0%
PFC	B	0.02%	0.01%	0.01%
PFS	B	0.1%	0.03%	0.03%
PFSI	C	0.16%	0.05%	0.05%
PIPR	A	0.17%	0.07%	0.07%
PJT	A	0.07%	0.05%	0.05%
PMT	C	0.08%	0.02%	0.02%
PNFP	B	0.24%	0.12%	0.12%
PPBI	C	0.11%	0.03%	0.03%
PRA	C	0.04%	0.01%	0.01%
PRAA	D	0.04%	0.01%	0.01%
PRG	C	0.25%	0.03%	0.03%
PRK	B	0.08%	0.04%	0.04%
RC	D	0.03%	0.02%	0.02%
RDN	D	0.24%	0.07%	0.07%
RILY	F	0.01%	0.0%	0.0%
RKT	F	0.03%	0.02%	0.02%
RLI	A	0.13%	0.09%	0.09%
RNR	C	0.13%	0.17%	0.13%
RNST	B	0.04%	0.03%	0.03%
RWT	D	0.03%	0.01%	0.01%
SAFT	B	0.08%	0.01%	0.01%
SASR	B	0.11%	0.02%	0.02%
SBCF	B	0.03%	0.03%	0.03%
SBSI	C	0.02%	0.01%	0.01%
SF	B	0.31%	0.15%	0.15%
SFBS	C	0.04%	0.06%	0.04%
SFNC	C	0.16%	0.04%	0.04%
SIGI	C	0.16%	0.07%	0.07%
SNEX	B	0.01%	0.03%	0.01%
SRCE	B	0.02%	0.02%	0.02%
SSB	B	0.1%	0.1%	0.1%
STBA	B	0.06%	0.02%	0.02%
STC	B	0.19%	0.02%	0.02%
STEP	C	0.03%	0.05%	0.03%
TBBK	B	0.0%	0.03%	0.0%
TCBI	C	0.15%	0.05%	0.05%
TCBK	C	0.02%	0.02%	0.02%
TMP	B	0.02%	0.01%	0.01%
TOST	B	0.06%	0.18%	0.06%
TOWN	B	0.08%	0.03%	0.03%
TPG	A	0.14%	0.06%	0.06%
TRMK	C	0.11%	0.03%	0.03%
TRTX	C	0.03%	0.01%	0.01%
TW	A	0.09%	0.18%	0.09%
UBSI	B	0.19%	0.07%	0.07%
UCB	A	0.1%	0.04%	0.04%
UFCS	A	0.02%	0.01%	0.01%
UMBF	B	0.17%	0.07%	0.07%
UVE	B	0.03%	0.01%	0.01%
VBTX	B	0.06%	0.02%	0.02%
VCTR	B	0.04%	0.04%	0.04%
VIRT	A	0.22%	0.04%	0.04%
VLY	B	0.2%	0.06%	0.06%
VRTS	B	0.05%	0.02%	0.02%
WABC	B	0.02%	0.02%	0.02%
WAFD	B	0.16%	0.04%	0.04%
WAL	B	0.28%	0.12%	0.12%
WASH	C	0.02%	0.01%	0.01%
WBS	A	0.26%	0.13%	0.13%
WD	D	0.15%	0.05%	0.05%
WEX	D	0.13%	0.09%	0.09%
WRLD	C	0.03%	0.0%	0.0%
WSBC	B	0.11%	0.03%	0.03%
WSFS	B	0.1%	0.04%	0.04%
WTFC	A	0.23%	0.11%	0.11%
WTM	A	0.17%	0.06%	0.06%

FNDA Overweight 814 Positions Relative to FNCL

Symbol	Grade	Weight
RCL	A	0.45%
GEO	B	0.42%
UAL	A	0.42%
SATS	D	0.38%
FICO	B	0.36%
ANF	F	0.34%
UTHR	C	0.32%
GME	C	0.31%
APP	B	0.3%
XPO	B	0.3%
VSCO	C	0.29%
FLS	B	0.29%
AIT	B	0.28%
MAC	B	0.28%
HRI	C	0.28%
CXW	C	0.28%
TXRH	B	0.28%
HCC	B	0.27%
OHI	C	0.26%
SWX	B	0.26%
CLH	C	0.26%
BWXT	B	0.26%
UAA	C	0.25%
WWD	C	0.25%
SLVM	B	0.25%
FIX	A	0.25%
CRS	B	0.25%
LITE	B	0.25%
Z	A	0.25%
GVA	A	0.25%
MHO	D	0.25%
VMI	B	0.25%
VRT	B	0.24%
SKYW	C	0.24%
DY	D	0.24%
PLXS	B	0.24%
SAIA	B	0.24%
HEI	A	0.24%
FRT	B	0.23%
INCY	C	0.23%
FDP	B	0.23%
VLTO	C	0.23%
SPB	C	0.23%
AWI	A	0.23%
SIG	B	0.23%
LOPE	C	0.23%
DTM	A	0.23%
WH	B	0.23%
BKH	A	0.23%
GHC	B	0.23%
ESI	B	0.22%
KRC	B	0.22%
SPOT	B	0.22%
CBT	D	0.22%
CWK	C	0.22%
CR	A	0.22%
DEI	B	0.22%
AVNT	B	0.22%
MOG.A	B	0.22%
ZM	C	0.22%
GATX	A	0.22%
TTMI	C	0.22%
SEM	B	0.22%
HIW	C	0.21%
CRUS	D	0.21%
PINC	B	0.21%
ELAN	D	0.21%
TPC	C	0.21%
RXO	D	0.21%
KFY	B	0.21%
GMS	B	0.21%
IDA	A	0.21%
BHE	C	0.21%
BYD	B	0.21%
PNM	B	0.2%
TTEK	F	0.2%
KEX	B	0.2%
SBH	C	0.2%
EXEL	B	0.2%
TRN	B	0.2%
SCCO	F	0.2%
CALM	A	0.2%
ELS	C	0.2%
GBX	A	0.2%
UNIT	B	0.2%
ARCB	C	0.19%
CRC	A	0.19%
JBLU	F	0.19%
TWLO	A	0.19%
SR	A	0.19%
LCII	C	0.19%
BIO	C	0.19%
ATGE	B	0.19%
FCN	F	0.19%
EAT	A	0.19%
DASH	B	0.19%
CCS	D	0.19%
NVST	B	0.19%
ADTN	A	0.19%
ENS	F	0.19%
HP	C	0.19%
CUZ	B	0.19%
OGS	A	0.19%
ACA	A	0.19%
SMG	C	0.19%
MAT	D	0.19%
KNF	B	0.19%
WMK	C	0.18%
WYNN	C	0.18%
NYT	D	0.18%
CUBE	C	0.18%
AMH	C	0.18%
HNI	B	0.18%
PATK	C	0.18%
RPRX	D	0.18%
TPL	A	0.18%
TEX	F	0.18%
COLM	C	0.18%
SBRA	C	0.18%
GIII	D	0.18%
ACIW	B	0.18%
KMT	B	0.18%
URBN	C	0.18%
IMKTA	C	0.18%
BDC	C	0.17%
VNT	C	0.17%
HXL	F	0.17%
SSD	F	0.17%
APLE	B	0.17%
ALE	A	0.17%
NWE	B	0.17%
LAUR	A	0.17%
VVV	D	0.17%
NOW	A	0.17%
PCH	F	0.17%
SUM	B	0.17%
PSMT	D	0.17%
MTDR	B	0.17%
AMKR	D	0.17%
VSTS	C	0.17%
FUL	F	0.17%
PHIN	A	0.17%
WGO	C	0.17%
NJR	A	0.17%
UNF	B	0.17%
SPR	D	0.17%
ESAB	C	0.17%
CSGP	D	0.17%
ASH	F	0.17%
SN	D	0.17%
LFUS	D	0.17%
SHOO	F	0.17%
CNX	A	0.17%
PTEN	C	0.16%
RH	C	0.16%
EBS	C	0.16%
PLTR	B	0.16%
SKY	A	0.16%
COLD	D	0.16%
AVA	A	0.16%
VEEV	C	0.16%
OLLI	D	0.16%
GEF	A	0.16%
ZD	B	0.16%
OUT	A	0.16%
GTES	A	0.16%
MASI	B	0.16%
VYX	B	0.16%
LNW	F	0.16%
ENTG	D	0.16%
B	A	0.16%
CBRL	C	0.15%
DNOW	B	0.15%
CHDN	B	0.15%
AGR	A	0.15%
GMED	A	0.15%
FWRD	D	0.15%
ROL	B	0.15%
TNL	A	0.15%
NOMD	D	0.15%
CEIX	A	0.15%
MOD	A	0.15%
MTX	B	0.15%
LGIH	F	0.15%
SCS	C	0.15%
LZB	B	0.15%
SLG	B	0.15%
UVV	B	0.15%
MTCH	D	0.15%
PDCO	F	0.15%
KTB	B	0.15%
NNN	C	0.15%
SITE	F	0.15%
RYN	D	0.14%
RRC	B	0.14%
ICUI	D	0.14%
EXLS	B	0.14%
ENSG	C	0.14%
NMRK	C	0.14%
AMWD	C	0.14%
SNDR	B	0.14%
APOG	C	0.14%
VSTO	A	0.14%
JAZZ	B	0.14%
CDP	C	0.14%
TDC	D	0.14%
WTS	B	0.14%
KAR	B	0.14%
OMI	F	0.14%
APG	B	0.14%
TYL	B	0.14%
H	B	0.14%
MLKN	F	0.14%
SLGN	A	0.14%
CNK	C	0.14%
CVLT	B	0.14%
SLAB	F	0.14%
AROC	A	0.14%
PPC	C	0.14%
YELP	C	0.14%
NEU	D	0.14%
CROX	D	0.14%
BCO	F	0.14%
CVCO	A	0.14%
SXT	C	0.14%
HE	C	0.14%
SAH	C	0.14%
CGNX	D	0.14%
ABNB	C	0.13%
WMS	F	0.13%
DNB	B	0.13%
SCL	C	0.13%
IOSP	C	0.13%
HELE	C	0.13%
DORM	B	0.13%
FND	D	0.13%
HRB	D	0.13%
ATKR	D	0.13%
RGLD	C	0.13%
SMTC	B	0.13%
THS	D	0.13%
IGT	F	0.13%
DLB	B	0.13%
UPBD	B	0.13%
EPR	C	0.13%
PLNT	A	0.13%
IDCC	B	0.13%
CABO	B	0.13%
FTI	A	0.13%
COKE	C	0.13%
RYI	C	0.13%
DBX	B	0.13%
AMR	C	0.13%
WEN	D	0.13%
ITRI	C	0.13%
PRIM	A	0.12%
FSLR	F	0.12%
CNM	D	0.12%
ETSY	D	0.12%
DRH	B	0.12%
CHX	C	0.12%
COMP	B	0.12%
IAC	F	0.12%
CHRD	D	0.12%
ANDE	D	0.12%
HGV	C	0.12%
WTRG	B	0.12%
HEES	C	0.12%
PTC	B	0.12%
VRSN	C	0.12%
JELD	F	0.12%
JBT	B	0.12%
IPGP	D	0.12%
AMED	F	0.12%
TROX	D	0.12%
MSM	C	0.12%
JBGS	F	0.12%
LBRT	D	0.12%
RLJ	C	0.12%
TREX	C	0.12%
JWN	D	0.12%
LRN	A	0.12%
ITGR	B	0.12%
AIR	B	0.12%
RIG	D	0.12%
MWA	B	0.12%
FELE	B	0.12%
WWW	A	0.12%
WDAY	B	0.12%
FR	D	0.11%
EPC	F	0.11%
TECH	F	0.11%
ENOV	C	0.11%
PSN	D	0.11%
STAG	D	0.11%
CPNG	D	0.11%
STRL	A	0.11%
FN	C	0.11%
HI	C	0.11%
KALU	C	0.11%
XHR	B	0.11%
VIAV	C	0.11%
PLUS	F	0.11%
MPWR	F	0.11%
AEIS	C	0.11%
CIVI	D	0.11%
SKT	A	0.11%
HPP	F	0.11%
DIOD	D	0.11%
PECO	A	0.11%
CRL	D	0.11%
DDS	B	0.11%
MANH	D	0.11%
FSS	B	0.11%
HLF	C	0.11%
BFAM	D	0.11%
PBH	A	0.11%
MMS	F	0.11%
BLD	D	0.11%
CHE	D	0.11%
TNET	F	0.11%
MYRG	B	0.11%
NGVT	B	0.11%
AM	A	0.1%
BOOT	C	0.1%
SIRI	C	0.1%
NHC	C	0.1%
GFF	A	0.1%
WSC	F	0.1%
AEO	F	0.1%
ENR	B	0.1%
ACHC	F	0.1%
MGEE	B	0.1%
FIVE	F	0.1%
CORT	B	0.1%
HAE	C	0.1%
UE	B	0.1%
SHO	D	0.1%
COMM	D	0.1%
NTCT	C	0.1%
LANC	C	0.1%
DHC	F	0.1%
BKE	B	0.1%
PAYC	B	0.1%
AZZ	A	0.1%
KRG	B	0.1%
SAM	C	0.1%
BXC	B	0.1%
CHH	A	0.09%
LBRDK	C	0.09%
ALEX	B	0.09%
CNXN	C	0.09%
CSGS	B	0.09%
PDM	D	0.09%
ESE	B	0.09%
AAON	B	0.09%
FTDR	B	0.09%
CENTA	C	0.09%
PINS	F	0.09%
NHI	D	0.09%
RNG	C	0.09%
CWEN	C	0.09%
RAMP	B	0.09%
ESRT	C	0.09%
RBC	A	0.09%
AIN	C	0.09%
STRA	C	0.09%
ROCK	C	0.09%
ICFI	F	0.09%
PRDO	B	0.09%
NPO	A	0.09%
MMSI	A	0.09%
MGRC	B	0.09%
PBI	B	0.09%
MGY	A	0.09%
DXCM	C	0.09%
SCSC	C	0.09%
RHP	B	0.09%
OSIS	A	0.09%
OTTR	C	0.09%
IBP	D	0.09%
JACK	C	0.09%
VSH	F	0.09%
VC	F	0.09%
BCPC	B	0.09%
SVC	F	0.09%
ROKU	D	0.09%
ORA	B	0.09%
BRKR	D	0.09%
MSA	F	0.09%
OMCL	C	0.08%
ROIC	A	0.08%
YETI	D	0.08%
RRR	F	0.08%
DLX	B	0.08%
UCTT	D	0.08%
REVG	C	0.08%
DOLE	D	0.08%
CARG	B	0.08%
GOLF	B	0.08%
MD	C	0.08%
KFRC	D	0.08%
ATI	C	0.08%
IRDM	D	0.08%
CSWI	B	0.08%
HL	D	0.08%
WNC	C	0.08%
OII	B	0.08%
TTD	B	0.08%
KW	C	0.08%
KLG	B	0.08%
ALGT	B	0.08%
CCOI	B	0.08%
PTON	A	0.08%
EGP	D	0.08%
KOS	D	0.08%
BMRN	F	0.08%
WOR	F	0.08%
SYNA	C	0.08%
LXP	D	0.08%
GO	C	0.08%
NWN	A	0.08%
LILAK	D	0.08%
AKR	B	0.08%
TALO	C	0.08%
CBZ	B	0.08%
POWI	F	0.08%
OPCH	D	0.08%
KAI	B	0.08%
AZEK	A	0.08%
ALIT	C	0.08%
CPK	A	0.07%
CNA	C	0.07%
KOP	C	0.07%
HHH	B	0.07%
BMI	B	0.07%
QLYS	B	0.07%
SMCI	F	0.07%
SABR	C	0.07%
ONTO	F	0.07%
HLX	B	0.07%
EXPO	D	0.07%
MRTN	D	0.07%
BRC	D	0.07%
HQY	A	0.07%
EYE	C	0.07%
GWRE	A	0.07%
OLED	F	0.07%
BLMN	F	0.07%
CRK	B	0.07%
ROG	D	0.07%
IART	C	0.07%
IRT	A	0.07%
OPEN	F	0.07%
SXI	B	0.07%
PR	B	0.07%
PTVE	B	0.07%
ADC	A	0.07%
REXR	F	0.07%
NX	C	0.07%
JJSF	C	0.07%
LYFT	C	0.07%
ZWS	B	0.07%
NSP	F	0.07%
BDN	C	0.07%
PLAB	C	0.07%
MRCY	C	0.07%
THRM	F	0.07%
PEB	D	0.07%
GNL	F	0.07%
AMN	F	0.07%
CDE	C	0.07%
CAKE	C	0.07%
HWKN	B	0.07%
TILE	B	0.07%
ALG	B	0.07%
CXT	C	0.07%
KN	B	0.07%
CWT	C	0.07%
ROAD	B	0.07%
MTRN	C	0.07%
COTY	F	0.06%
AXL	C	0.06%
CTS	C	0.06%
SMPL	B	0.06%
EPAC	C	0.06%
GPRE	F	0.06%
AGX	B	0.06%
CVI	F	0.06%
ENV	B	0.06%
CWST	A	0.06%
PRGS	A	0.06%
HCSG	C	0.06%
BNL	D	0.06%
GTLS	A	0.06%
GES	F	0.06%
CAL	F	0.06%
NTGR	B	0.06%
ECVT	C	0.06%
WHD	B	0.06%
MMI	C	0.06%
EMBC	C	0.06%
TDOC	C	0.06%
BLKB	B	0.06%
SEB	F	0.06%
GCI	D	0.06%
KTOS	B	0.06%
OXM	F	0.06%
TNC	D	0.06%
GFS	C	0.06%
TRS	B	0.06%
REYN	D	0.06%
MEDP	D	0.06%
BSY	F	0.06%
WDFC	B	0.06%
FORM	D	0.06%
OEC	C	0.06%
TRIP	F	0.06%
HURN	C	0.06%
KWR	C	0.06%
AWR	B	0.06%
SONO	C	0.06%
PGRE	F	0.06%
ATSG	B	0.06%
ELME	D	0.06%
LGF.A	C	0.06%
CWH	B	0.06%
PLAY	D	0.06%
SCHL	F	0.06%
KELYA	F	0.06%
HALO	F	0.06%
BKD	F	0.06%
EAF	C	0.06%
NBIX	C	0.06%
NSA	C	0.06%
EXPI	D	0.06%
AAT	B	0.06%
SJW	F	0.05%
UIS	B	0.05%
LIVN	F	0.05%
ACCO	C	0.05%
CNDT	C	0.05%
AAL	B	0.05%
TRNO	F	0.05%
AY	A	0.05%
NTB	B	0.05%
HAYW	B	0.05%
HTLD	C	0.05%
KLIC	B	0.05%
VRRM	F	0.05%
NOVT	D	0.05%
VSAT	F	0.05%
MRC	B	0.05%
VRE	B	0.05%
ICHR	C	0.05%
FOXF	F	0.05%
ALK	B	0.05%
EPRT	B	0.05%
DEA	D	0.05%
SXC	A	0.05%
PODD	C	0.05%
SNBR	F	0.05%
BRBR	A	0.05%
CCO	C	0.05%
AMRK	F	0.05%
CHEF	A	0.05%
CMCO	C	0.05%
PSTG	D	0.05%
ADUS	D	0.05%
SUPN	C	0.05%
MELI	C	0.05%
BV	C	0.05%
MODG	F	0.05%
CNMD	C	0.05%
AMCX	C	0.05%
SENEA	A	0.04%
ASIX	B	0.04%
ALRM	C	0.04%
IPAR	B	0.04%
CARS	C	0.04%
NVEE	F	0.04%
CNSL	C	0.04%
SWBI	C	0.04%
INSW	F	0.04%
ENPH	F	0.04%
PUMP	C	0.04%
RDNT	B	0.04%
IHRT	B	0.04%
CPS	C	0.04%
GLOB	B	0.04%
WFRD	D	0.04%
SFL	D	0.04%
GLNG	C	0.04%
RDUS	B	0.04%
ZUMZ	B	0.04%
GCO	C	0.04%
CSTM	F	0.04%
DHT	F	0.04%
INVA	D	0.04%
GTN	F	0.04%
RES	D	0.04%
EXAS	D	0.04%
RGEN	D	0.04%
AGRO	D	0.04%
IVT	A	0.04%
PEN	B	0.04%
CMPR	D	0.04%
VTLE	C	0.04%
DXPE	C	0.04%
PARR	F	0.04%
ZI	D	0.04%
SNAP	D	0.04%
HLIO	B	0.04%
WING	D	0.04%
LNN	B	0.04%
HAIN	D	0.04%
NBR	C	0.04%
NOG	B	0.04%
LSCC	D	0.04%
W	D	0.04%
HZO	F	0.04%
JBSS	F	0.04%
BZH	C	0.04%
MATX	C	0.04%
NEOG	F	0.04%
CRGY	B	0.04%
LTC	B	0.04%
AZTA	D	0.04%
CNXC	F	0.04%
GRBK	D	0.04%
FCPT	C	0.04%
COHU	C	0.04%
CMRE	C	0.03%
ASTH	F	0.03%
DAC	C	0.03%
USNA	C	0.03%
XP	F	0.03%
BBSI	B	0.03%
CRAI	C	0.03%
MYGN	F	0.03%
PAGS	F	0.03%
ZIMV	D	0.03%
THRY	D	0.03%
GDEN	B	0.03%
VIR	D	0.03%
CVGW	D	0.03%
HMST	F	0.03%
HSII	B	0.03%
TKO	A	0.03%
PRLB	B	0.03%
RGR	F	0.03%
ILPT	F	0.03%
PEGA	B	0.03%
SBLK	F	0.03%
MXL	C	0.03%
RMBS	B	0.03%
DT	D	0.03%
PRVA	C	0.03%
MP	C	0.03%
CTRE	C	0.03%
GLDD	B	0.03%
SSTK	F	0.03%
STNG	F	0.03%
AMC	C	0.03%
CBL	B	0.03%
VAL	F	0.03%
WTTR	A	0.03%
LEVI	F	0.03%
VRNT	C	0.03%
MATV	D	0.03%
TSE	F	0.03%
SCVL	F	0.03%
SMP	C	0.03%
SGRY	F	0.03%
USM	B	0.03%
NUS	D	0.03%
SPSC	D	0.03%
MNRO	D	0.03%
ACLS	F	0.03%
SNOW	B	0.03%
LYV	A	0.03%
NVRI	D	0.03%
ASTE	C	0.03%
VSEC	C	0.03%
PZZA	F	0.03%
BGS	F	0.03%
LPG	F	0.03%
PLCE	C	0.02%
GTY	A	0.02%
ARKO	C	0.02%
CTRN	F	0.02%
CLDT	B	0.02%
NPK	B	0.02%
BRY	F	0.02%
FIZZ	C	0.02%
CLOV	D	0.02%
CLVT	D	0.02%
ALTO	F	0.02%
IRWD	F	0.02%
RYAM	C	0.02%
CMP	C	0.02%
CCSI	C	0.02%
DAY	B	0.02%
ARCO	F	0.02%
RUN	F	0.02%
DBI	F	0.02%
TEN	F	0.02%
AVNS	F	0.02%
OPK	C	0.02%
CSR	B	0.02%
GNK	D	0.02%
SHEN	F	0.02%
CSV	B	0.02%
WOW	C	0.02%
EDR	A	0.02%
ALKS	C	0.02%
CLB	B	0.02%
HVT	D	0.02%
AVO	C	0.02%
MTW	C	0.02%
EBF	F	0.02%
MERC	F	0.02%
XPRO	D	0.02%
CALX	D	0.02%
ZEUS	C	0.02%
SHYF	C	0.02%
UTL	B	0.02%
MATW	C	0.02%
BJRI	C	0.02%
STNE	F	0.02%
WMG	D	0.02%
EVRI	A	0.02%
DCO	C	0.02%
AHCO	F	0.02%
TBI	F	0.02%
CLW	F	0.02%
WOOF	D	0.02%
MTUS	C	0.02%
OKTA	C	0.02%
SFIX	B	0.02%
ETD	C	0.02%
VTOL	B	0.01%
IIIN	C	0.01%
LESL	D	0.01%
LGND	C	0.01%
GPRO	F	0.01%
MBUU	B	0.01%
PKST	F	0.01%
KE	C	0.01%
AVD	C	0.01%
JRVR	F	0.01%
PRM	C	0.01%
GSL	F	0.01%
SSP	F	0.01%
SRI	F	0.01%
MODV	C	0.01%
ATNI	F	0.01%
NU	C	0.01%
CRMT	D	0.01%
BMBL	C	0.01%
PETS	C	0.01%
CENT	C	0.01%
MED	D	0.01%
CCRN	F	0.01%
FLGT	F	0.01%
MOV	D	0.01%
GPMT	C	0.01%
TPIC	F	0.01%
OPI	F	0.01%
IRBT	F	0.01%
MYE	F	0.01%
DENN	D	0.01%
SSYS	B	0.01%
AGL	F	0.01%
DIN	C	0.01%
VREX	B	0.01%
WOLF	F	0.01%
TITN	C	0.01%
RGP	F	0.01%
USPH	B	0.01%
OIS	B	0.01%
FLWS	D	0.01%
PLOW	D	0.01%
MEI	F	0.01%
CHGG	C	0.0%
EVH	F	0.0%
PCRX	C	0.0%
MGPI	F	0.0%
ALGM	D	0.0%
GIC	D	0.0%
TWI	F	0.0%
SEG	B	0.0%
HY	D	0.0%
WTI	F	0.0%
GSM	D	0.0%
CRNC	C	0.0%
AMPH	F	0.0%
SPWH	F	0.0%
DNUT	F	0.0%
HAYN	A	0.0%
ONEW	F	0.0%
THR	B	0.0%
INMD	C	0.0%
TTEC	F	0.0%
AMRC	F	0.0%
CMTL	F	0.0%
IIPR	D	0.0%
HOV	D	0.0%
REX	D	0.0%
SEDG	F	0.0%
LXU	B	0.0%
AOSL	C	0.0%
NR	B	0.0%
CRVL	B	0.0%

FNDA Underweight 198 Positions Relative to FNCL

Symbol	Grade	Weight
JPM	A	-8.6%
BRK.A	B	-7.67%
V	A	-6.01%
MA	B	-5.35%
BAC	A	-4.0%
WFC	A	-3.14%
GS	A	-2.35%
AXP	A	-2.05%
SPGI	C	-2.02%
MS	A	-2.0%
BLK	B	-1.93%
PGR	A	-1.87%
C	A	-1.61%
BX	A	-1.6%
FI	A	-1.53%
SCHW	B	-1.5%
CB	C	-1.37%
MMC	B	-1.35%
KKR	A	-1.16%
ICE	C	-1.11%
PYPL	B	-1.05%
PNC	B	-1.03%
CME	B	-0.99%
USB	A	-0.98%
MCO	B	-0.98%
AON	A	-0.91%
COF	C	-0.87%
AJG	A	-0.8%
TFC	A	-0.77%
AFL	B	-0.74%
TRV	B	-0.73%
BK	A	-0.71%
AMP	A	-0.69%
ALL	A	-0.64%
MET	A	-0.63%
AIG	B	-0.63%
FIS	C	-0.61%
MSCI	C	-0.59%
SQ	A	-0.58%
PRU	A	-0.56%
DFS	B	-0.54%
ACGL	C	-0.46%
MTB	A	-0.44%
HIG	B	-0.43%
NDAQ	A	-0.42%
WTW	B	-0.4%
FITB	B	-0.4%
RJF	A	-0.39%
GPN	B	-0.37%
STT	B	-0.35%
BRO	B	-0.33%
TROW	B	-0.33%
HBAN	A	-0.32%
SYF	B	-0.32%
CPAY	A	-0.31%
RF	A	-0.3%
LPLA	A	-0.29%
CINF	A	-0.29%
MKL	A	-0.28%
CFG	B	-0.27%
NTRS	A	-0.27%
FCNCA	A	-0.27%
CBOE	C	-0.26%
PFG	D	-0.25%
KEY	B	-0.23%
WRB	A	-0.23%
HOOD	B	-0.21%
L	A	-0.2%
EG	C	-0.2%
RGA	A	-0.19%
EQH	C	-0.19%
FNF	B	-0.19%
EWBC	A	-0.18%
SOFI	B	-0.17%
UNM	A	-0.16%
AFRM	A	-0.16%
JKHY	D	-0.16%
AIZ	A	-0.15%
CG	B	-0.15%
JEF	A	-0.15%
EVR	B	-0.14%
FHN	A	-0.14%
GL	C	-0.13%
AFG	A	-0.13%
OWL	A	-0.13%
PRI	B	-0.13%
ALLY	C	-0.12%
ORI	A	-0.12%
SNV	C	-0.11%
ZION	B	-0.11%
SEIC	B	-0.11%
CMA	B	-0.11%
VOYA	B	-0.1%
JXN	C	-0.09%
OMF	A	-0.09%
RYAN	A	-0.09%
BPOP	C	-0.09%
JHG	B	-0.08%
BEN	C	-0.08%
MTG	C	-0.08%
FAF	A	-0.08%
FOUR	A	-0.07%
LNC	C	-0.07%
THG	A	-0.07%
STWD	C	-0.07%
IVZ	B	-0.07%
AMG	B	-0.07%
CNO	B	-0.06%
SLM	A	-0.06%
UPST	B	-0.06%
GSHD	A	-0.04%
GNW	A	-0.04%
BHF	C	-0.04%
SYBT	B	-0.03%
NATL	B	-0.03%
FRHC	B	-0.03%
BANC	B	-0.03%
TFIN	B	-0.03%
FLYW	B	-0.03%
OSCR	D	-0.03%
WU	F	-0.03%
PLMR	A	-0.03%
PAYO	A	-0.03%
ACT	C	-0.02%
GABC	B	-0.02%
WT	A	-0.02%
NAVI	F	-0.02%
LOB	C	-0.02%
SPNT	B	-0.02%
MQ	D	-0.02%
QCRH	B	-0.02%
LMND	B	-0.02%
LC	A	-0.02%
SKWD	A	-0.02%
TRUP	B	-0.02%
CLBK	C	-0.01%
HONE	C	-0.01%
CCBG	B	-0.01%
PX	A	-0.01%
GSBC	C	-0.01%
TREE	F	-0.01%
UWMC	D	-0.01%
NFBK	C	-0.01%
NRDS	C	-0.01%
BHB	C	-0.01%
SPFI	C	-0.01%
TIPT	C	-0.01%
PGC	B	-0.01%
FMNB	B	-0.01%
TRST	B	-0.01%
MCB	B	-0.01%
EZPW	B	-0.01%
LPRO	B	-0.01%
FSBC	C	-0.01%
THFF	B	-0.01%
CTLP	B	-0.01%
PAY	A	-0.01%
SMBC	B	-0.01%
IIIV	C	-0.01%
CAC	C	-0.01%
RBCAA	B	-0.01%
EQBK	B	-0.01%
BFH	C	-0.01%
RPAY	D	-0.01%
TFSL	A	-0.01%
IMXI	B	-0.01%
BFST	C	-0.01%
CASS	C	-0.01%
MCBS	B	-0.01%
AMTB	B	-0.01%
FG	A	-0.01%
FCBC	C	-0.01%
HTBK	B	-0.01%
AMAL	B	-0.01%
OSBC	A	-0.01%
FMBH	B	-0.01%
CCB	A	-0.01%
CFB	B	-0.01%
BFC	B	-0.01%
BHRB	B	-0.01%
HBNC	B	-0.01%
MBIN	F	-0.01%
DX	B	-0.01%
MBWM	B	-0.01%
BY	B	-0.01%
OBK	C	-0.01%
EFC	C	-0.01%
CTBI	B	-0.01%
HCI	C	-0.01%
IBCP	B	-0.01%
FBMS	B	-0.01%
UVSP	B	-0.01%
DCOM	B	-0.01%
AROW	B	-0.0%
GCBC	C	-0.0%
DGICA	A	-0.0%
HGTY	B	-0.0%
HBT	B	-0.0%