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

$54.70

Average Daily Volume

274,992

Number of Holdings ^*

962

* 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

$58.52

Average Daily Volume

74,765

Number of Holdings ^*

377

* may have additional holdings in another (foreign) market

Performance

Period	FNDA	FNCL
30 Days	-2.03%	0.91%
60 Days	-0.39%	2.75%
90 Days	-0.92%	1.50%
12 Months	9.27%	25.74%

175 Overlapping Holdings

Symbol	Grade	Weight in FNDA	Weight in FNCL	Overlap
ABCB	B	0.1%	0.05%	0.05%
ABR	B	0.09%	0.04%	0.04%
AGM	B	0.01%	0.03%	0.01%
AGNC	A	0.25%	0.1%	0.1%
AGO	B	0.31%	0.07%	0.07%
AMBC	F	0.04%	0.01%	0.01%
AMRK	D	0.13%	0.01%	0.01%
AMSF	F	0.01%	0.01%	0.01%
APAM	D	0.14%	0.04%	0.04%
ARES	C	0.13%	0.37%	0.13%
ARI	D	0.09%	0.02%	0.02%
ASB	C	0.19%	0.05%	0.05%
AUB	C	0.02%	0.04%	0.02%
AX	C	0.09%	0.04%	0.04%
AXS	B	0.22%	0.09%	0.09%
BANF	D	0.03%	0.03%	0.03%
BANR	B	0.09%	0.02%	0.02%
BGC	C	0.12%	0.04%	0.04%
BHLB	B	0.01%	0.01%	0.01%
BKU	B	0.23%	0.03%	0.03%
BOH	D	0.12%	0.03%	0.03%
BOKF	C	0.11%	0.04%	0.04%
BRKL	D	0.04%	0.01%	0.01%
BRSP	D	0.04%	0.01%	0.01%
BSIG	C	0.11%	0.01%	0.01%
BUSE	B	0.06%	0.02%	0.02%
BXMT	C	0.13%	0.04%	0.04%
CACC	B	0.18%	0.05%	0.05%
CACC	B	0.09%	0.05%	0.05%
CADE	C	0.18%	0.07%	0.07%
CASH	B	0.05%	0.02%	0.02%
CATY	C	0.13%	0.04%	0.04%
CBSH	C	0.18%	0.1%	0.1%
CBU	B	0.08%	0.03%	0.03%
CFFN	B	0.05%	0.01%	0.01%
CFR	D	0.17%	0.09%	0.09%
CHCO	B	0.04%	0.02%	0.02%
CMTG	D	0.01%	0.01%	0.01%
CNNE	D	0.05%	0.01%	0.01%
CNOB	D	0.03%	0.01%	0.01%
CNS	B	0.06%	0.03%	0.03%
CODI	C	0.1%	0.02%	0.02%
COIN	D	0.54%	0.62%	0.54%
COLB	C	0.16%	0.06%	0.06%
COOP	C	0.2%	0.08%	0.08%
CPF	B	0.04%	0.01%	0.01%
CUBI	B	0.06%	0.02%	0.02%
CVBF	C	0.09%	0.03%	0.03%
DFIN	D	0.06%	0.02%	0.02%
DHIL	D	0.03%	0.0%	0.0%
EBC	B	0.05%	0.03%	0.03%
ECPG	D	0.1%	0.01%	0.01%
EEFT	D	0.2%	0.07%	0.07%
EFSC	B	0.04%	0.02%	0.02%
EGBN	D	0.05%	0.01%	0.01%
EIG	B	0.08%	0.02%	0.02%
ENVA	B	0.14%	0.03%	0.03%
ESGR	A	0.12%	0.06%	0.06%
ESNT	B	0.17%	0.09%	0.09%
EVTC	F	0.06%	0.03%	0.03%
FBK	B	0.01%	0.02%	0.01%
FBNC	C	0.03%	0.02%	0.02%
FBP	A	0.11%	0.05%	0.05%
FCF	B	0.05%	0.02%	0.02%
FDS	D	0.17%	0.24%	0.17%
FFBC	C	0.09%	0.03%	0.03%
FFIN	C	0.07%	0.05%	0.05%
FHB	C	0.17%	0.04%	0.04%
FIBK	B	0.09%	0.04%	0.04%
FNB	C	0.2%	0.08%	0.08%
FRME	C	0.07%	0.03%	0.03%
FULT	D	0.13%	0.04%	0.04%
GBCI	D	0.12%	0.06%	0.06%
GDOT	F	0.05%	0.01%	0.01%
HAFC	B	0.03%	0.01%	0.01%
HASI	D	0.04%	0.05%	0.04%
HFWA	D	0.03%	0.01%	0.01%
HLI	A	0.16%	0.1%	0.1%
HLNE	B	0.01%	0.07%	0.01%
HMN	D	0.07%	0.02%	0.02%
HOMB	C	0.03%	0.06%	0.03%
HOPE	C	0.1%	0.02%	0.02%
HTH	C	0.1%	0.02%	0.02%
HTLF	B	0.08%	0.03%	0.03%
HWC	B	0.18%	0.06%	0.06%
IBKR	B	0.09%	0.19%	0.09%
IBOC	C	0.1%	0.05%	0.05%
IBTX	B	0.07%	0.02%	0.02%
INDB	D	0.06%	0.03%	0.03%
KMPR	C	0.3%	0.06%	0.06%
KNSL	F	0.01%	0.13%	0.01%
KREF	D	0.04%	0.01%	0.01%
KRNY	C	0.03%	0.0%	0.0%
LADR	A	0.08%	0.02%	0.02%
LKFN	D	0.04%	0.02%	0.02%
MC	A	0.16%	0.05%	0.05%
MCY	C	0.14%	0.02%	0.02%
MKTX	F	0.1%	0.11%	0.1%
MORN	B	0.1%	0.13%	0.1%
MSBI	D	0.01%	0.01%	0.01%
NBHC	B	0.01%	0.02%	0.01%
NBTB	B	0.06%	0.02%	0.02%
NIC	B	0.01%	0.01%	0.01%
NMIH	A	0.07%	0.04%	0.04%
NNI	C	0.07%	0.02%	0.02%
NWBI	B	0.06%	0.02%	0.02%
OCFC	B	0.04%	0.01%	0.01%
OFG	B	0.07%	0.03%	0.03%
ONB	B	0.13%	0.08%	0.08%
OZK	D	0.17%	0.06%	0.06%
PB	C	0.18%	0.08%	0.08%
PEBO	C	0.01%	0.02%	0.01%
PFBC	C	0.01%	0.01%	0.01%
PFC	C	0.04%	0.01%	0.01%
PFS	D	0.08%	0.02%	0.02%
PFSI	A	0.17%	0.06%	0.06%
PIPR	A	0.13%	0.06%	0.06%
PJT	A	0.05%	0.04%	0.04%
PMT	C	0.1%	0.02%	0.02%
PNFP	D	0.16%	0.09%	0.09%
PPBI	D	0.08%	0.03%	0.03%
PRA	F	0.06%	0.01%	0.01%
PRAA	F	0.08%	0.01%	0.01%
PRG	D	0.22%	0.02%	0.02%
PRK	B	0.07%	0.03%	0.03%
RC	D	0.01%	0.02%	0.01%
RDN	B	0.25%	0.07%	0.07%
RILY	F	0.05%	0.0%	0.0%
RKT	C	0.01%	0.03%	0.01%
RLI	D	0.1%	0.09%	0.09%
RNR	D	0.25%	0.18%	0.18%
RWT	B	0.05%	0.01%	0.01%
SAFT	D	0.08%	0.02%	0.02%
SASR	B	0.07%	0.02%	0.02%
SBCF	D	0.01%	0.03%	0.01%
SBSI	D	0.04%	0.01%	0.01%
SF	B	0.25%	0.13%	0.13%
SFNC	D	0.11%	0.03%	0.03%
SIGI	F	0.14%	0.08%	0.08%
SNEX	B	0.01%	0.03%	0.01%
SRCE	B	0.04%	0.01%	0.01%
STBA	B	0.05%	0.02%	0.02%
STC	C	0.19%	0.03%	0.03%
STEP	A	0.05%	0.04%	0.04%
TBBK	B	0.01%	0.03%	0.01%
TCBI	B	0.1%	0.04%	0.04%
TCBK	B	0.04%	0.02%	0.02%
TMP	C	0.03%	0.01%	0.01%
TOST	C	0.01%	0.14%	0.01%
TOWN	C	0.07%	0.03%	0.03%
TPG	D	0.13%	0.05%	0.05%
TRMK	C	0.11%	0.02%	0.02%
TRTX	A	0.07%	0.01%	0.01%
TW	C	0.09%	0.18%	0.09%
UBSI	D	0.15%	0.06%	0.06%
UCBI	D	0.08%	0.04%	0.04%
UFCS	D	0.04%	0.01%	0.01%
UMBF	B	0.13%	0.06%	0.06%
UVE	D	0.05%	0.01%	0.01%
VBTX	B	0.05%	0.02%	0.02%
VCTR	C	0.01%	0.03%	0.01%
VIRT	C	0.17%	0.03%	0.03%
VLY	F	0.12%	0.04%	0.04%
WABC	C	0.04%	0.02%	0.02%
WAFD	C	0.13%	0.03%	0.03%
WAL	B	0.21%	0.1%	0.1%
WASH	B	0.03%	0.01%	0.01%
WBS	D	0.17%	0.11%	0.11%
WD	D	0.15%	0.05%	0.05%
WEX	D	0.12%	0.11%	0.11%
WRLD	D	0.06%	0.01%	0.01%
WSBC	C	0.09%	0.03%	0.03%
WSFS	B	0.08%	0.04%	0.04%
WTFC	C	0.18%	0.09%	0.09%
WTM	C	0.19%	0.07%	0.07%

FNDA Overweight 787 Positions Relative to FNCL

Symbol	Grade	Weight
ANF	B	0.69%
SATS	B	0.54%
SMCI	C	0.5%
RCL	B	0.45%
TPC	B	0.37%
HCC	C	0.35%
CRUS	A	0.32%
SPOT	B	0.32%
GME	C	0.32%
UTHR	B	0.3%
WWD	C	0.3%
FICO	A	0.29%
SLVM	C	0.29%
SWX	D	0.29%
DY	B	0.29%
FLS	D	0.28%
TXRH	C	0.28%
ELAN	F	0.28%
WIRE	A	0.27%
XPO	D	0.27%
CLH	B	0.27%
SPB	D	0.26%
SCCO	C	0.26%
VLTO	D	0.26%
SPR	B	0.26%
DHC	B	0.26%
MAC	D	0.26%
CROX	C	0.26%
UAL	D	0.25%
GEO	C	0.25%
AMKR	B	0.25%
BHE	B	0.24%
FN	C	0.24%
OHI	A	0.24%
EBS	B	0.24%
CBT	D	0.23%
GATX	B	0.23%
URBN	C	0.23%
CHRD	C	0.23%
ENTG	B	0.23%
ESI	B	0.23%
SEM	A	0.23%
VRT	C	0.23%
FIX	C	0.23%
HEI	A	0.23%
TTEK	C	0.23%
FCN	C	0.22%
MHO	D	0.22%
KEX	B	0.22%
BWXT	B	0.22%
AVNT	D	0.22%
LNW	B	0.22%
ENS	C	0.22%
FRT	C	0.22%
SIG	F	0.22%
ASH	D	0.22%
HIW	B	0.21%
DBRG	D	0.21%
MOG.A	C	0.21%
BKH	C	0.21%
AIRC	A	0.21%
TTMI	A	0.21%
AWI	D	0.21%
KFY	B	0.21%
LOPE	C	0.21%
AIT	B	0.21%
SMG	D	0.21%
VMI	C	0.21%
TROX	D	0.21%
HP	D	0.21%
TRN	C	0.2%
KELYA	C	0.2%
GVA	B	0.2%
GHC	C	0.2%
CRS	B	0.2%
COLM	D	0.19%
PLXS	C	0.19%
SIX	B	0.19%
GIII	F	0.19%
HXL	D	0.19%
OMI	F	0.19%
GBX	C	0.19%
TEX	D	0.19%
ELS	C	0.19%
SRCL	A	0.19%
WYNN	F	0.19%
SAIA	B	0.19%
GMS	F	0.19%
CR	B	0.19%
SHOO	C	0.19%
ARCB	D	0.18%
MOD	A	0.18%
CUBE	B	0.18%
MTX	B	0.18%
RPRX	F	0.18%
WWW	C	0.18%
IDA	D	0.18%
BCO	B	0.18%
LFUS	C	0.18%
CXW	D	0.18%
AMH	A	0.18%
VVV	B	0.18%
ALE	C	0.18%
DEI	C	0.18%
VNT	D	0.18%
PTEN	F	0.18%
ATGE	A	0.18%
RXO	B	0.18%
KRC	D	0.18%
SN	C	0.18%
SCSC	D	0.18%
NYT	A	0.18%
DTM	B	0.18%
FUL	D	0.18%
OLLI	B	0.18%
HIBB	A	0.17%
UAA	F	0.17%
WH	C	0.17%
SBRA	A	0.17%
SSD	F	0.17%
MPWR	A	0.17%
CCS	F	0.17%
SCS	B	0.17%
NNN	B	0.17%
COLD	C	0.17%
HRI	F	0.17%
CGNX	B	0.17%
MLKN	D	0.17%
SR	C	0.17%
PDCO	F	0.17%
HNI	B	0.17%
GMED	A	0.17%
AVA	D	0.16%
NJR	D	0.16%
NOMD	D	0.16%
PATK	C	0.16%
AGR	C	0.16%
NWE	D	0.16%
SVC	D	0.16%
B	B	0.16%
DLX	B	0.16%
MAT	F	0.16%
DNOW	C	0.16%
IMKTA	F	0.16%
OGS	C	0.16%
APG	C	0.16%
Z	C	0.16%
EAT	C	0.16%
SXT	D	0.16%
INCY	C	0.16%
PSMT	D	0.16%
CWK	C	0.16%
CUZ	C	0.16%
APLE	D	0.16%
ACHC	F	0.16%
CSGP	F	0.16%
ADTN	F	0.16%
H	C	0.16%
KNF	D	0.16%
ACA	D	0.16%
HLF	C	0.16%
CHDN	A	0.16%
PHIN	C	0.15%
SLAB	D	0.15%
PDM	B	0.15%
FND	F	0.15%
ESAB	D	0.15%
ATKR	F	0.15%
MTDR	D	0.15%
ACIW	A	0.15%
CRC	B	0.15%
PCH	F	0.15%
CSTM	D	0.15%
WMK	D	0.15%
SAH	D	0.15%
JELD	D	0.15%
SBH	C	0.15%
KMT	F	0.15%
CNXC	C	0.15%
PINC	F	0.15%
SUM	D	0.15%
HELE	F	0.15%
PNM	D	0.15%
LCII	F	0.15%
LZB	C	0.15%
DLB	D	0.14%
NEU	D	0.14%
PBI	B	0.14%
CEIX	B	0.14%
TDC	C	0.14%
YELP	F	0.14%
AIR	B	0.14%
KAR	C	0.14%
UNF	B	0.14%
AMR	C	0.14%
OUT	C	0.14%
ITRI	C	0.14%
LBRT	D	0.14%
AROC	B	0.14%
RYN	F	0.14%
KALU	C	0.14%
DOLE	C	0.14%
BDC	C	0.14%
BDN	D	0.14%
BIO	F	0.14%
ZM	D	0.14%
TREX	F	0.14%
WMS	D	0.14%
FDP	F	0.14%
ROL	A	0.14%
THS	C	0.14%
VSCO	F	0.14%
UVV	F	0.14%
NUS	F	0.13%
NVST	F	0.13%
VSTO	B	0.13%
WTS	D	0.13%
GEF	F	0.13%
SITC	A	0.13%
ITGR	D	0.13%
CALM	B	0.13%
EPC	B	0.13%
RGLD	C	0.13%
BFAM	C	0.13%
DIOD	D	0.13%
AMED	A	0.13%
MTCH	F	0.13%
PGRE	C	0.13%
MASI	F	0.13%
EPR	C	0.13%
HI	F	0.13%
VEEV	F	0.13%
HPP	D	0.13%
RLJ	F	0.13%
KTB	D	0.13%
AZZ	D	0.13%
PINS	B	0.13%
WGO	F	0.13%
SITE	F	0.13%
EXEL	C	0.13%
LITE	B	0.13%
AMCX	F	0.13%
DDS	C	0.13%
LAUR	C	0.13%
SCL	D	0.13%
IOSP	D	0.13%
AXL	D	0.13%
PPC	A	0.13%
BYD	F	0.13%
CVLT	A	0.13%
APP	A	0.12%
RRC	C	0.12%
PLUS	C	0.12%
SKYW	B	0.12%
WEN	F	0.12%
AMN	F	0.12%
ENSG	A	0.12%
CNK	B	0.12%
GTES	D	0.12%
XHR	D	0.12%
DRH	D	0.12%
JBGS	B	0.12%
LGIH	F	0.12%
CVCO	D	0.12%
IPGP	D	0.12%
DASH	D	0.12%
BRKR	F	0.12%
HE	F	0.12%
TYL	B	0.12%
FSS	C	0.12%
FELE	D	0.12%
ZD	F	0.12%
APOG	C	0.12%
AMWD	F	0.12%
MANH	B	0.11%
IDCC	A	0.11%
MWA	C	0.11%
BOOT	B	0.11%
LRN	C	0.11%
LANC	C	0.11%
PLNT	B	0.11%
UNIT	F	0.11%
HZO	C	0.11%
SFL	B	0.11%
MSA	B	0.11%
STAG	B	0.11%
GFF	D	0.11%
HCSG	D	0.11%
NGVT	F	0.11%
EMBC	D	0.11%
CHX	C	0.11%
TECH	D	0.11%
IAC	F	0.11%
TPL	B	0.11%
KLIC	B	0.11%
PTC	B	0.11%
RIG	D	0.11%
SNDR	B	0.11%
UCTT	A	0.11%
SMTC	D	0.11%
SHO	D	0.11%
GCI	A	0.11%
STRA	C	0.11%
TNET	F	0.11%
ETSY	F	0.11%
SKY	F	0.11%
COKE	B	0.11%
WOR	F	0.11%
NTB	B	0.1%
CCO	C	0.1%
SKT	D	0.1%
JACK	F	0.1%
AM	B	0.1%
JBT	F	0.1%
MYRG	F	0.1%
REVG	C	0.1%
PECO	C	0.1%
ABNB	B	0.1%
HGV	F	0.1%
FR	C	0.1%
LGF.A	F	0.1%
HAE	D	0.1%
BMRN	D	0.1%
MRC	C	0.1%
BGS	F	0.1%
CBRL	F	0.1%
ICUI	B	0.1%
VC	D	0.1%
BKD	C	0.1%
MELI	D	0.1%
STNG	B	0.1%
PBH	C	0.1%
IBP	D	0.1%
MATV	D	0.1%
CNM	D	0.1%
CDE	B	0.1%
DORM	C	0.1%
RH	D	0.1%
NMRK	C	0.1%
AEIS	C	0.1%
BV	C	0.1%
CABO	F	0.1%
ONTO	B	0.1%
SWBI	F	0.1%
IGT	D	0.1%
OTTR	C	0.1%
FORM	A	0.1%
CLW	D	0.1%
DXCM	F	0.1%
AY	B	0.1%
OLED	A	0.09%
RRR	B	0.09%
OPCH	F	0.09%
CNXN	D	0.09%
SAM	C	0.09%
HL	D	0.09%
KRG	B	0.09%
LXP	B	0.09%
PAGS	D	0.09%
NBR	D	0.09%
ALK	D	0.09%
THRM	F	0.09%
PEB	F	0.09%
NSP	F	0.09%
PRDO	C	0.09%
KOS	D	0.09%
STRL	D	0.09%
MEDP	C	0.09%
SNBR	F	0.09%
ORA	C	0.09%
SXC	C	0.09%
CBZ	C	0.09%
DNB	D	0.09%
SIRI	C	0.09%
WDAY	D	0.09%
ENR	C	0.09%
GTN	D	0.09%
TWLO	D	0.09%
HEES	F	0.09%
PUMP	D	0.09%
BCPC	A	0.09%
MD	F	0.09%
NVRI	B	0.09%
OSIS	D	0.09%
ICFI	D	0.09%
RHP	D	0.09%
UE	A	0.09%
SYNA	D	0.09%
PSN	B	0.09%
CMPR	B	0.09%
EXLS	B	0.09%
ESRT	C	0.09%
WSC	F	0.09%
NHI	A	0.09%
DHT	D	0.09%
AIN	D	0.09%
ENOV	F	0.09%
NPO	D	0.09%
TILE	D	0.09%
NHC	A	0.09%
HAIN	D	0.09%
ROG	C	0.08%
FIVE	F	0.08%
GO	F	0.08%
KW	C	0.08%
MMSI	A	0.08%
CWEN	D	0.08%
TBI	F	0.08%
RNG	D	0.08%
BZH	F	0.08%
CNSL	B	0.08%
THRY	F	0.08%
KN	D	0.08%
EGP	B	0.08%
NTGR	C	0.08%
PTVE	D	0.08%
HLX	A	0.08%
VSTS	F	0.08%
COTY	F	0.08%
MGEE	D	0.08%
SBLK	C	0.08%
SCHL	F	0.08%
CNDT	D	0.08%
ATI	C	0.08%
CIVI	D	0.08%
KFRC	D	0.08%
OEC	F	0.08%
CNA	B	0.08%
TRIP	F	0.08%
GOLF	C	0.08%
GNL	D	0.08%
NTCT	D	0.08%
MODG	D	0.08%
POWI	D	0.08%
ACCO	F	0.08%
RAMP	D	0.08%
ATSG	C	0.08%
RBC	C	0.08%
BLMN	F	0.08%
AAL	F	0.08%
MGRC	F	0.08%
ALEX	B	0.08%
VGR	B	0.08%
BKE	D	0.08%
ROCK	D	0.08%
CENTA	F	0.08%
AAN	B	0.08%
AZEK	D	0.08%
WNC	D	0.08%
JJSF	B	0.08%
REYN	D	0.07%
MERC	F	0.07%
KAI	B	0.07%
VIAV	D	0.07%
BMI	C	0.07%
REXR	C	0.07%
WING	B	0.07%
USNA	F	0.07%
ZIMV	B	0.07%
GCO	F	0.07%
NSA	B	0.07%
ESE	D	0.07%
EXPO	C	0.07%
ENV	C	0.07%
SENEA	C	0.07%
NX	F	0.07%
NBIX	C	0.07%
GES	F	0.07%
KLG	D	0.07%
KOP	F	0.07%
CVI	F	0.07%
CAL	D	0.07%
NWN	F	0.07%
AKR	A	0.07%
GLNG	A	0.07%
JBLU	B	0.07%
RGR	F	0.07%
MTRN	D	0.07%
ZUMZ	C	0.07%
WFRD	B	0.07%
LYFT	F	0.07%
PSTG	C	0.07%
MGY	B	0.07%
CAKE	C	0.07%
RDUS	F	0.07%
INVA	B	0.07%
TALO	D	0.07%
MATX	B	0.07%
EAF	F	0.07%
TNC	D	0.07%
PLAY	F	0.07%
AGRO	D	0.07%
OII	B	0.07%
PLAB	D	0.07%
SCVL	C	0.07%
CWT	D	0.07%
YETI	F	0.07%
VSAT	F	0.07%
PLTR	B	0.07%
OXM	D	0.07%
PAYC	F	0.06%
ROKU	D	0.06%
GFS	C	0.06%
ICHR	C	0.06%
CTS	D	0.06%
KWR	D	0.06%
DBI	F	0.06%
CPK	C	0.06%
TNP	B	0.06%
JBSS	D	0.06%
PR	C	0.06%
ADC	B	0.06%
SFIX	C	0.06%
HQY	B	0.06%
CBL	B	0.06%
IART	C	0.06%
ZEUS	F	0.06%
MNRO	F	0.06%
HMST	B	0.06%
CORT	C	0.06%
VRRM	B	0.06%
LPG	D	0.06%
GWRE	A	0.06%
AHCO	D	0.06%
RDNT	B	0.06%
SONO	F	0.06%
EYE	F	0.06%
ROAD	D	0.06%
CSWI	A	0.06%
SABR	F	0.06%
AAON	B	0.06%
AAT	B	0.06%
AZTA	D	0.06%
ROIC	C	0.06%
COMM	F	0.06%
SMP	F	0.06%
DAC	B	0.06%
HALO	B	0.06%
DXPE	D	0.06%
W	D	0.06%
SXI	D	0.06%
GLOB	C	0.06%
ASIX	F	0.06%
IRT	A	0.06%
ASTE	F	0.06%
CPS	D	0.06%
CSGS	F	0.06%
STNE	D	0.06%
CHH	C	0.06%
TRS	D	0.06%
XP	F	0.06%
TNK	B	0.06%
ILPT	F	0.06%
TTD	A	0.06%
MRTN	C	0.06%
CMRE	B	0.06%
BSY	D	0.06%
FTDR	D	0.06%
AGX	C	0.06%
HWKN	A	0.06%
TUP	F	0.06%
ALG	F	0.06%
HURN	C	0.05%
CLVT	D	0.05%
COHU	B	0.05%
TRNO	B	0.05%
MMI	D	0.05%
VRNT	C	0.05%
CRK	C	0.05%
OPI	F	0.05%
NEOG	C	0.05%
FOXF	D	0.05%
WOOF	C	0.05%
BBSI	B	0.05%
ECVT	D	0.05%
BNL	B	0.05%
WHD	B	0.05%
MYGN	B	0.05%
SLGN	D	0.05%
ACLS	B	0.05%
SMPL	D	0.05%
BJRI	B	0.05%
CPNG	D	0.05%
MTW	F	0.05%
GLDD	C	0.05%
NOVT	C	0.05%
TPIC	D	0.05%
CMCO	F	0.05%
PRLB	D	0.05%
ENPH	F	0.05%
EBF	B	0.05%
PRFT	B	0.05%
OPEN	F	0.05%
DEA	B	0.05%
LIVN	D	0.05%
BRY	D	0.05%
RYI	F	0.05%
CVGW	F	0.05%
ETD	D	0.05%
KTOS	B	0.05%
ZWS	D	0.05%
MATW	F	0.05%
WTTR	B	0.05%
WDFC	F	0.05%
GNK	C	0.05%
GPRE	F	0.05%
TSE	F	0.05%
AWR	D	0.05%
HVT	F	0.05%
CARG	C	0.05%
CWST	B	0.05%
CCOI	D	0.05%
IRDM	F	0.05%
ADUS	B	0.05%
CRAI	C	0.05%
QLYS	D	0.05%
BLKB	D	0.05%
UIS	D	0.05%
CHEF	A	0.05%
SHEN	D	0.05%
EPAC	B	0.05%
SGH	B	0.05%
AVO	D	0.04%
DRQ	D	0.04%
ALTO	F	0.04%
IRBT	F	0.04%
CARS	C	0.04%
IHRT	F	0.04%
FIZZ	B	0.04%
CMP	F	0.04%
EXPI	F	0.04%
LSCC	D	0.04%
LNN	D	0.04%
FLWS	C	0.04%
CWH	D	0.04%
PARR	D	0.04%
ALRM	D	0.04%
RGP	F	0.04%
SUPN	F	0.04%
SRI	F	0.04%
ARCO	D	0.04%
PRGS	B	0.04%
DO	B	0.04%
FWRD	D	0.04%
CSR	B	0.04%
ALKS	D	0.04%
FCPT	B	0.04%
SJW	F	0.04%
OMCL	F	0.04%
VAL	B	0.04%
PEGA	D	0.04%
CNMD	F	0.04%
UTL	C	0.04%
EPRT	A	0.04%
WOW	C	0.04%
LTC	A	0.04%
HSII	D	0.04%
CLB	B	0.04%
SHYF	F	0.04%
AVNS	F	0.04%
DCO	B	0.04%
INSW	B	0.04%
CTRN	F	0.04%
MRCY	D	0.04%
HTLD	C	0.04%
BRBR	C	0.04%
CCSI	F	0.03%
DAY	D	0.03%
CRMT	F	0.03%
EXAS	F	0.03%
JRVR	F	0.03%
SNOW	D	0.03%
SEDG	F	0.03%
BXC	F	0.03%
FLGT	F	0.03%
ALIT	F	0.03%
PTON	F	0.03%
GTY	D	0.03%
WOLF	F	0.03%
MODV	D	0.03%
RGEN	F	0.03%
ZI	F	0.03%
PLOW	F	0.03%
DENN	F	0.03%
PZZA	F	0.03%
MOV	F	0.03%
IPAR	F	0.03%
DIN	F	0.03%
CCRN	F	0.03%
VREX	F	0.03%
MYE	F	0.03%
EVRI	C	0.03%
TDOC	F	0.03%
USPH	F	0.03%
LBRDK	C	0.03%
CSV	B	0.03%
OPK	F	0.03%
CLDT	D	0.03%
NVEE	F	0.03%
ARKO	C	0.03%
SSTK	F	0.03%
TITN	F	0.03%
MEI	F	0.03%
NPK	D	0.03%
RES	F	0.03%
PODD	C	0.03%
SPSC	B	0.03%
KE	F	0.02%
HLIO	D	0.02%
AMC	D	0.02%
HAYW	F	0.02%
COMP	D	0.02%
PLCE	F	0.02%
NOG	C	0.02%
PETS	F	0.02%
GSL	B	0.02%
SLCA	B	0.02%
LESL	F	0.02%
SSP	F	0.02%
ATNI	D	0.02%
GPMT	F	0.02%
AVD	F	0.02%
PEN	F	0.02%
RYAM	C	0.02%
SSYS	F	0.02%
BMBL	F	0.02%
MED	F	0.02%
OIS	D	0.02%
GIC	F	0.01%
TWI	F	0.01%
AMPH	F	0.01%
WTI	D	0.01%
EVH	F	0.01%
CRNC	F	0.01%
MGPI	F	0.01%
RUN	F	0.01%
ALGM	C	0.01%
PCRX	F	0.01%
CRVL	B	0.01%
HAYN	C	0.01%
DNUT	F	0.01%
INMD	F	0.01%
GDEN	F	0.01%
HY	D	0.01%
GSM	C	0.01%
DT	F	0.01%
THR	D	0.01%
VIR	F	0.01%
HOV	D	0.01%
SPWH	F	0.01%
PRVA	D	0.01%
LGND	B	0.01%
LYV	C	0.01%
REX	D	0.01%
CALX	C	0.01%
CTRE	B	0.01%
IIPR	B	0.01%
ASTH	C	0.01%
LXU	F	0.01%
ONEW	C	0.01%
VSEC	B	0.01%
SGRY	F	0.01%
VTOL	B	0.01%
PRM	B	0.01%
OKTA	C	0.01%
RMBS	D	0.01%
MXL	B	0.01%
MBUU	F	0.01%
AMRC	D	0.01%
CRGY	B	0.01%
AOSL	B	0.01%
NR	C	0.01%
PKST	F	0.01%
IIIN	F	0.01%
TTEC	F	0.01%
CLOV	B	0.01%
TK	C	0.01%
AGL	D	0.01%
IVT	D	0.01%
GRBK	C	0.01%
XPRO	C	0.01%
SBOW	B	0.01%
CMTL	D	0.01%
GPRO	F	0.01%
NU	B	0.01%
CHGG	F	0.0%
IRWD	F	0.0%

FNDA Underweight 203 Positions Relative to FNCL

Symbol	Grade	Weight
JPM	A	-8.56%
BRK.A	D	-8.11%
V	D	-6.51%
MA	D	-5.71%
BAC	A	-4.21%
WFC	C	-3.05%
GS	A	-2.24%
SPGI	B	-2.16%
AXP	C	-2.0%
PGR	B	-1.84%
MS	B	-1.81%
BLK	B	-1.78%
C	A	-1.78%
SCHW	C	-1.68%
CB	C	-1.61%
MMC	A	-1.57%
BX	C	-1.34%
ICE	A	-1.18%
MCO	A	-1.06%
CME	D	-1.05%
KKR	C	-1.0%
USB	C	-0.94%
PNC	C	-0.91%
PYPL	D	-0.89%
AON	C	-0.87%
AJG	A	-0.85%
COF	C	-0.78%
AIG	C	-0.76%
AFL	B	-0.75%
TFC	B	-0.74%
TRV	D	-0.72%
APO	A	-0.71%
MET	D	-0.67%
BK	A	-0.67%
FIS	B	-0.66%
AMP	B	-0.66%
PRU	A	-0.65%
ALL	D	-0.64%
ACGL	C	-0.58%
MSCI	C	-0.58%
SQ	D	-0.54%
DFS	A	-0.48%
HIG	C	-0.47%
WTW	B	-0.41%
TROW	C	-0.39%
MTB	B	-0.37%
GPN	D	-0.37%
FITB	C	-0.37%
NDAQ	C	-0.36%
RJF	D	-0.36%
STT	C	-0.33%
BRO	B	-0.33%
LPLA	B	-0.31%
MKL	D	-0.31%
SYF	B	-0.28%
CPAY	D	-0.28%
HBAN	C	-0.28%
PFG	D	-0.28%
CBOE	D	-0.27%
CINF	B	-0.27%
RF	B	-0.26%
CFG	B	-0.25%
FCNCA	C	-0.25%
EG	D	-0.25%
NTRS	B	-0.25%
WRB	C	-0.25%
L	D	-0.22%
EQH	B	-0.21%
RGA	B	-0.21%
FNF	D	-0.19%
KEY	C	-0.19%
HOOD	B	-0.18%
JKHY	C	-0.18%
ALLY	B	-0.16%
EWBC	C	-0.15%
AFG	D	-0.14%
ERIE	C	-0.14%
CG	D	-0.14%
UNM	D	-0.13%
FHN	C	-0.13%
PRI	C	-0.13%
AIZ	D	-0.13%
AFRM	F	-0.12%
GL	C	-0.12%
JEF	A	-0.12%
ORI	C	-0.12%
EVR	A	-0.11%
SEIC	C	-0.11%
OWL	D	-0.11%
VOYA	D	-0.11%
BPOP	C	-0.1%
SOFI	D	-0.1%
CMA	C	-0.1%
BEN	D	-0.1%
SNV	A	-0.09%
OMF	C	-0.09%
STWD	C	-0.09%
MTG	B	-0.09%
RYAN	C	-0.09%
ZION	B	-0.09%
IVZ	D	-0.08%
AMG	D	-0.08%
JXN	B	-0.08%
LNC	B	-0.08%
SSB	D	-0.08%
FAF	D	-0.08%
THG	C	-0.07%
JHG	A	-0.07%
FOUR	B	-0.06%
SLM	C	-0.06%
WU	D	-0.05%
SFBS	C	-0.05%
BHF	D	-0.05%
CNO	B	-0.05%
OSCR	D	-0.04%
FHI	B	-0.04%
GNW	D	-0.04%
FLYW	F	-0.03%
NATL	A	-0.03%
PLMR	C	-0.03%
NYCB	D	-0.03%
MQ	D	-0.03%
EFC	A	-0.02%
TRUP	B	-0.02%
LOB	F	-0.02%
QCRH	B	-0.02%
NWLI	A	-0.02%
SYBT	B	-0.02%
ACT	B	-0.02%
SPNT	D	-0.02%
GSHD	D	-0.02%
SKWD	D	-0.02%
NAVI	D	-0.02%
FRHC	C	-0.02%
BANC	D	-0.02%
UPST	F	-0.02%
RNST	C	-0.02%
VRTS	C	-0.02%
CLBK	D	-0.01%
CCBG	C	-0.01%
HONE	B	-0.01%
PX	C	-0.01%
SMBC	B	-0.01%
MCB	C	-0.01%
SPFI	C	-0.01%
CTLP	D	-0.01%
BHB	C	-0.01%
AMTB	C	-0.01%
FSBC	B	-0.01%
TIPT	D	-0.01%
GSBC	B	-0.01%
CATC	B	-0.01%
THFF	C	-0.01%
TRST	B	-0.01%
FMNB	C	-0.01%
IIIV	B	-0.01%
CCB	B	-0.01%
RBCAA	C	-0.01%
EQBK	A	-0.01%
CAC	B	-0.01%
LPRO	F	-0.01%
NRDS	B	-0.01%
BFST	C	-0.01%
AMAL	B	-0.01%
FCBC	B	-0.01%
EZPW	D	-0.01%
TFSL	C	-0.01%
MCBS	B	-0.01%
HBNC	C	-0.01%
HTBK	B	-0.01%
FBMS	C	-0.01%
CFB	B	-0.01%
BFC	C	-0.01%
FG	D	-0.01%
FMBH	C	-0.01%
UWMC	C	-0.01%
CASS	D	-0.01%
BY	B	-0.01%
DCOM	C	-0.01%
OSBC	B	-0.01%
IMXI	D	-0.01%
CTBI	C	-0.01%
IBCP	B	-0.01%
HCI	D	-0.01%
UVSP	B	-0.01%
MBWM	B	-0.01%
MBIN	D	-0.01%
AMK	B	-0.01%
LMND	D	-0.01%
OBK	D	-0.01%
DX	D	-0.01%
LC	D	-0.01%
GABC	B	-0.01%
RPAY	C	-0.01%
AROW	B	-0.0%
PGC	D	-0.0%
DGICA	F	-0.0%
HGTY	A	-0.0%
GCBC	C	-0.0%
CRD.B	F	-0.0%
HBT	B	-0.0%
PAY	D	-0.0%
NFBK	C	-0.0%