FNDA vs. QVMM ETF Comparison

Comparison of Schwab Fundamental U.S. Small Company Index ETF (FNDA) to Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM)

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

$30.28

Average Daily Volume

445,115

Number of Holdings ^*

996

* may have additional holdings in another (foreign) market

QVMM

Invesco S&P MidCap 400 QVM Multi-factor ETF

QVMM Description

The investment seeks to track the investment results of the S&P MidCap 400 Â® Quality, Value & Momentum Top 90% Multi- Factor Index (the âunderlying indexâ). The fund will invest at least 90% of its total assets in the securities that comprise the index. S&P Dow Jones Indices LLC compiles, maintains and calculates the index, which is designed to track the performance of a subset of securities from the S&P MidCap 400 Â® Index that exhibit the investment style criteria of quality, value and momentum. The index is composed of securities with multi-factor scores representing the top 90% of the parent index, as determined by the index provider. It is non-diversified.

Grade (RS Rating)

Last Trade

$29.55

Average Daily Volume

1,312

Number of Holdings ^*

353

* may have additional holdings in another (foreign) market

Performance

Period	FNDA	QVMM
30 Days	3.26%	4.19%
60 Days	6.43%	6.47%
90 Days	4.96%	6.29%
12 Months	29.84%	31.60%

196 Overlapping Holdings

Symbol	Grade	Weight in FNDA	Weight in QVMM	Overlap
AAON	B	0.08%	0.29%	0.08%
ACHC	F	0.14%	0.2%	0.14%
ADC	B	0.07%	0.26%	0.07%
AIT	A	0.24%	0.33%	0.24%
ALE	A	0.17%	0.13%	0.13%
AM	C	0.1%	0.2%	0.1%
AMH	D	0.19%	0.44%	0.19%
AMKR	F	0.21%	0.13%	0.13%
ANF	C	0.37%	0.31%	0.31%
ASB	B	0.18%	0.13%	0.13%
ASH	D	0.2%	0.16%	0.16%
AVNT	A	0.22%	0.17%	0.17%
AZTA	F	0.05%	0.09%	0.05%
BCO	B	0.18%	0.19%	0.18%
BDC	A	0.17%	0.2%	0.17%
BKH	A	0.23%	0.15%	0.15%
BLD	C	0.13%	0.48%	0.13%
BMRN	F	0.09%	0.52%	0.09%
BRBR	B	0.05%	0.29%	0.05%
BRKR	F	0.12%	0.24%	0.12%
BWXT	B	0.25%	0.41%	0.25%
BYD	B	0.19%	0.16%	0.16%
CADE	B	0.2%	0.23%	0.2%
CBSH	C	0.18%	0.27%	0.18%
CBT	B	0.23%	0.23%	0.23%
CDP	A	0.15%	0.13%	0.13%
CFR	A	0.2%	0.29%	0.2%
CGNX	D	0.15%	0.26%	0.15%
CHDN	B	0.15%	0.33%	0.15%
CHE	B	0.12%	0.33%	0.12%
CHRD	F	0.12%	0.33%	0.12%
CHX	D	0.12%	0.25%	0.12%
CIVI	F	0.12%	0.21%	0.12%
CLH	B	0.28%	0.48%	0.28%
CNM	D	0.13%	0.34%	0.13%
CNX	B	0.17%	0.21%	0.17%
CNXC	F	0.06%	0.09%	0.06%
COKE	C	0.15%	0.23%	0.15%
COLB	B	0.17%	0.22%	0.17%
COLM	C	0.18%	0.1%	0.1%
COTY	F	0.07%	0.13%	0.07%
CR	A	0.21%	0.3%	0.21%
CROX	D	0.21%	0.35%	0.21%
CRUS	D	0.25%	0.25%	0.25%
CUBE	D	0.19%	0.39%	0.19%
CUZ	A	0.19%	0.16%	0.16%
CVLT	D	0.14%	0.27%	0.14%
CXT	D	0.08%	0.1%	0.08%
DLB	D	0.14%	0.16%	0.14%
DTM	B	0.21%	0.32%	0.21%
EEFT	F	0.17%	0.17%	0.17%
EGP	D	0.09%	0.31%	0.09%
ENOV	F	0.1%	0.08%	0.08%
ENS	C	0.21%	0.16%	0.16%
EPR	B	0.15%	0.13%	0.13%
ESAB	B	0.15%	0.24%	0.15%
ESNT	A	0.18%	0.25%	0.18%
EXEL	B	0.15%	0.27%	0.15%
EXLS	A	0.12%	0.23%	0.12%
EXPO	B	0.08%	0.21%	0.08%
FCN	B	0.22%	0.29%	0.22%
FFIN	B	0.08%	0.18%	0.08%
FHI	A	0.1%	0.11%	0.1%
FIX	B	0.24%	0.56%	0.24%
FLS	B	0.28%	0.29%	0.28%
FNB	B	0.21%	0.2%	0.2%
FND	D	0.14%	0.45%	0.14%
FR	D	0.11%	0.27%	0.11%
GATX	D	0.2%	0.18%	0.18%
GBCI	A	0.15%	0.21%	0.15%
GEF	B	0.16%	0.06%	0.06%
GHC	A	0.21%	0.11%	0.11%
GME	F	0.25%	0.23%	0.23%
GMED	B	0.14%	0.3%	0.14%
H	C	0.14%	0.26%	0.14%
HAE	D	0.09%	0.14%	0.09%
HALO	D	0.06%	0.26%	0.06%
HGV	D	0.1%	0.1%	0.1%
HLI	A	0.18%	0.33%	0.18%
HOMB	C	0.09%	0.19%	0.09%
HQY	A	0.06%	0.28%	0.06%
HRB	D	0.14%	0.31%	0.14%
HWC	B	0.19%	0.18%	0.18%
HXL	D	0.17%	0.19%	0.17%
IBKR	B	0.1%	0.62%	0.1%
IBOC	B	0.1%	0.13%	0.1%
IDA	B	0.19%	0.18%	0.18%
IPGP	D	0.13%	0.09%	0.09%
IRT	D	0.07%	0.16%	0.07%
JAZZ	C	0.12%	0.27%	0.12%
JWN	B	0.12%	0.08%	0.08%
KEX	B	0.2%	0.27%	0.2%
KMPR	B	0.25%	0.14%	0.14%
KNF	A	0.19%	0.18%	0.18%
KNSL	C	0.03%	0.4%	0.03%
KRC	A	0.22%	0.16%	0.16%
KRG	B	0.1%	0.2%	0.1%
LANC	F	0.1%	0.13%	0.1%
LFUS	B	0.19%	0.25%	0.19%
LIVN	C	0.05%	0.11%	0.05%
LNW	F	0.17%	0.31%	0.17%
LOPE	F	0.19%	0.15%	0.15%
LSCC	D	0.05%	0.27%	0.05%
MANH	B	0.12%	0.66%	0.12%
MASI	B	0.15%	0.23%	0.15%
MAT	D	0.2%	0.25%	0.2%
MEDP	F	0.06%	0.31%	0.06%
MMS	C	0.13%	0.21%	0.13%
MORN	B	0.11%	0.33%	0.11%
MSA	F	0.1%	0.25%	0.1%
MSM	D	0.12%	0.15%	0.12%
MTDR	F	0.16%	0.26%	0.16%
NBIX	F	0.06%	0.44%	0.06%
NEOG	F	0.04%	0.12%	0.04%
NEU	F	0.14%	0.13%	0.13%
NJR	B	0.17%	0.16%	0.16%
NNN	B	0.18%	0.3%	0.18%
NOVT	C	0.05%	0.25%	0.05%
NSA	D	0.07%	0.11%	0.07%
NSP	F	0.09%	0.12%	0.09%
NVST	D	0.18%	0.12%	0.12%
NWE	B	0.17%	0.12%	0.12%
NYT	B	0.19%	0.34%	0.19%
OGS	A	0.19%	0.14%	0.14%
OHI	B	0.27%	0.35%	0.27%
OLED	C	0.09%	0.31%	0.09%
OLLI	D	0.17%	0.2%	0.17%
ONB	B	0.15%	0.23%	0.15%
ONTO	C	0.09%	0.42%	0.09%
OPCH	D	0.12%	0.18%	0.12%
ORA	B	0.09%	0.15%	0.09%
OZK	B	0.19%	0.18%	0.18%
PB	A	0.21%	0.26%	0.21%
PCH	C	0.18%	0.13%	0.13%
PNFP	A	0.2%	0.3%	0.2%
PNM	B	0.19%	0.14%	0.14%
PPC	B	0.13%	0.07%	0.07%
PR	D	0.07%	0.29%	0.07%
PSTG	D	0.06%	0.64%	0.06%
QLYS	F	0.06%	0.17%	0.06%
RBC	C	0.08%	0.31%	0.08%
REXR	F	0.08%	0.38%	0.08%
RGEN	F	0.04%	0.27%	0.04%
RGLD	B	0.14%	0.35%	0.14%
RLI	A	0.12%	0.24%	0.12%
RMBS	D	0.03%	0.19%	0.03%
RNR	A	0.14%	0.53%	0.14%
RRC	D	0.13%	0.28%	0.13%
RYN	B	0.15%	0.16%	0.15%
SAIA	D	0.21%	0.4%	0.21%
SAM	D	0.09%	0.09%	0.09%
SBRA	B	0.19%	0.14%	0.14%
SF	A	0.27%	0.38%	0.27%
SIGI	C	0.15%	0.21%	0.15%
SLAB	D	0.16%	0.15%	0.15%
SLGN	B	0.14%	0.16%	0.14%
SR	D	0.19%	0.14%	0.14%
SRCL	B	0.19%	0.2%	0.19%
SSB	A	0.1%	0.29%	0.1%
SSD	C	0.18%	0.31%	0.18%
STAG	D	0.11%	0.25%	0.11%
SWX	B	0.26%	0.17%	0.17%
SYNA	F	0.08%	0.12%	0.08%
TCBI	B	0.13%	0.13%	0.13%
TEX	D	0.2%	0.15%	0.15%
TNL	B	0.13%	0.13%	0.13%
TPL	B	0.15%	0.79%	0.15%
TREX	F	0.12%	0.25%	0.12%
TTEK	C	0.24%	0.48%	0.24%
TXRH	B	0.26%	0.44%	0.26%
UAA	B	0.22%	0.13%	0.13%
UBSI	B	0.18%	0.19%	0.18%
UMBF	B	0.16%	0.18%	0.16%
UTHR	B	0.31%	0.61%	0.31%
VAL	F	0.03%	0.13%	0.03%
VC	F	0.1%	0.1%	0.1%
VLY	C	0.19%	0.15%	0.15%
VMI	A	0.23%	0.23%	0.23%
VNT	D	0.15%	0.22%	0.15%
VSH	F	0.11%	0.09%	0.09%
VVV	C	0.17%	0.2%	0.17%
WBS	A	0.21%	0.32%	0.21%
WEN	B	0.14%	0.11%	0.11%
WEX	C	0.15%	0.32%	0.15%
WFRD	F	0.04%	0.29%	0.04%
WH	A	0.2%	0.24%	0.2%
WING	D	0.05%	0.42%	0.05%
WMG	C	0.02%	0.16%	0.02%
WMS	D	0.15%	0.41%	0.15%
WTFC	A	0.2%	0.28%	0.2%
WTRG	B	0.13%	0.35%	0.13%
WTS	B	0.14%	0.21%	0.14%
WWD	C	0.24%	0.36%	0.24%
XPO	D	0.24%	0.54%	0.24%
YETI	F	0.09%	0.14%	0.09%
ZI	D	0.04%	0.1%	0.04%

FNDA Overweight 800 Positions Relative to QVMM

Symbol	Grade	Weight
SATS	C	0.45%
RCL	B	0.39%
FICO	B	0.33%
UAL	B	0.29%
MHO	B	0.28%
WAL	A	0.28%
HCC	C	0.27%
BKU	B	0.27%
MAC	B	0.27%
DY	B	0.26%
PRG	B	0.26%
VLTO	B	0.26%
SLVM	B	0.25%
RDN	C	0.25%
RXO	C	0.24%
SCCO	C	0.24%
CRS	C	0.24%
HEI	B	0.24%
COOP	B	0.23%
HIW	A	0.23%
SPB	C	0.23%
DBRG	C	0.23%
GEO	C	0.23%
VRT	B	0.23%
FRT	C	0.23%
SMG	B	0.23%
SIG	C	0.23%
AGNC	B	0.22%
CCS	B	0.22%
DEI	A	0.22%
Z	C	0.22%
ELAN	F	0.22%
HRI	B	0.22%
COIN	C	0.22%
GVA	B	0.22%
PLXS	A	0.22%
LITE	B	0.21%
BHE	B	0.21%
SKYW	B	0.21%
ESI	D	0.21%
KFY	D	0.21%
UNIT	C	0.21%
TPC	B	0.21%
AWI	A	0.21%
CALM	A	0.21%
VIRT	B	0.21%
SEM	D	0.21%
HP	D	0.21%
MOG.A	C	0.21%
VSCO	C	0.21%
SHOO	B	0.2%
FDS	B	0.2%
TRN	B	0.2%
ZM	B	0.2%
INCY	B	0.2%
LCII	B	0.2%
PATK	B	0.2%
COLD	D	0.2%
ELS	D	0.2%
CWK	C	0.2%
FDP	B	0.2%
RPRX	C	0.2%
GMS	B	0.2%
WYNN	C	0.2%
SPR	D	0.19%
SBH	B	0.19%
VSTS	D	0.19%
BIO	B	0.19%
GIII	C	0.19%
MC	B	0.19%
SN	C	0.19%
MTCH	C	0.19%
MOD	B	0.18%
FHB	B	0.18%
CRC	C	0.18%
HNI	A	0.18%
SPOT	C	0.18%
URBN	D	0.18%
CXW	D	0.18%
PFSI	B	0.18%
JELD	D	0.18%
ADTN	C	0.18%
PSMT	B	0.18%
ACIW	B	0.18%
CSGP	D	0.18%
PINC	D	0.18%
JBLU	B	0.18%
ENTG	F	0.18%
ARCB	F	0.18%
ACA	B	0.18%
SMCI	F	0.18%
MPWR	C	0.18%
STC	D	0.18%
FUL	D	0.18%
TTMI	C	0.18%
NOMD	F	0.17%
SVC	F	0.17%
WTM	A	0.17%
SITE	D	0.17%
GBX	C	0.17%
DASH	A	0.17%
KMT	B	0.17%
LGIH	C	0.17%
PDCO	F	0.17%
ATGE	C	0.17%
ENVA	B	0.17%
TROX	D	0.17%
APLE	C	0.17%
B	A	0.17%
WGO	D	0.17%
UNF	B	0.17%
SKY	B	0.16%
DHC	C	0.16%
VYX	D	0.16%
NOW	C	0.16%
FWRD	C	0.16%
APP	C	0.16%
WAFD	B	0.16%
OMI	F	0.16%
WMK	D	0.16%
PIPR	A	0.16%
IMKTA	F	0.16%
PTEN	F	0.16%
AVA	D	0.16%
WD	A	0.16%
OUT	B	0.16%
THS	B	0.16%
RH	B	0.16%
LAUR	C	0.15%
ICUI	B	0.15%
LZB	D	0.15%
BFAM	D	0.15%
MTX	C	0.15%
HE	F	0.15%
LBRT	F	0.15%
SXT	B	0.15%
CATY	A	0.15%
ARES	B	0.15%
UVV	D	0.15%
MKTX	B	0.15%
TDC	D	0.15%
CACC	D	0.15%
VEEV	C	0.15%
EBS	C	0.15%
SFNC	B	0.15%
AGR	D	0.15%
ROL	D	0.15%
SCS	C	0.15%
PHIN	D	0.15%
AGO	C	0.15%
NMRK	B	0.14%
TPG	A	0.14%
CVCO	B	0.14%
IAC	C	0.14%
IGT	F	0.14%
SUM	B	0.14%
PLUS	B	0.14%
CBRL	D	0.14%
TWLO	C	0.14%
YELP	D	0.14%
TYL	C	0.14%
EAT	B	0.14%
COMM	C	0.14%
CEIX	C	0.14%
BXMT	C	0.14%
SLG	A	0.14%
HELE	D	0.14%
APO	B	0.14%
VSTO	A	0.14%
JBGS	B	0.14%
ENSG	C	0.14%
APAM	A	0.14%
GTES	B	0.14%
MLKN	F	0.14%
KTB	A	0.14%
VRSN	C	0.13%
SAH	D	0.13%
LILAK	C	0.13%
ANDE	D	0.13%
FELE	B	0.13%
ATKR	F	0.13%
SCL	D	0.13%
ITRI	C	0.13%
MCY	B	0.13%
SNDR	B	0.13%
FSLR	F	0.13%
ABNB	D	0.13%
DBX	C	0.13%
ZD	D	0.13%
AMR	F	0.13%
APG	D	0.13%
AMED	D	0.13%
FTI	C	0.13%
AMWD	B	0.13%
DNOW	D	0.13%
DIOD	D	0.13%
APOG	C	0.13%
AROC	C	0.13%
CNK	B	0.13%
AEO	D	0.12%
AXS	A	0.12%
KAR	F	0.12%
BGC	D	0.12%
FN	B	0.12%
AIR	F	0.12%
ETSY	F	0.12%
PTC	B	0.12%
IDCC	B	0.12%
PSN	B	0.12%
FSS	B	0.12%
DRH	C	0.12%
MWA	B	0.12%
PLTR	C	0.12%
BOOT	B	0.12%
RLJ	D	0.12%
TNET	D	0.12%
DNB	D	0.12%
RYI	D	0.12%
UPBD	F	0.12%
IOSP	D	0.12%
ITGR	B	0.12%
FULT	C	0.12%
BOH	B	0.12%
RIG	F	0.12%
AMN	F	0.12%
ABCB	A	0.12%
HPP	F	0.12%
SMTC	C	0.12%
WSC	F	0.11%
PPBI	B	0.11%
PINS	D	0.11%
SHO	C	0.11%
HEES	C	0.11%
SKT	A	0.11%
BOKF	A	0.11%
COMP	C	0.11%
PECO	C	0.11%
FIBK	A	0.11%
FIVE	D	0.11%
EPC	F	0.11%
AEIS	B	0.11%
DORM	B	0.11%
BANR	A	0.11%
IBP	C	0.11%
TECH	F	0.11%
XHR	B	0.11%
HTH	C	0.11%
HOPE	A	0.11%
CPNG	C	0.11%
CRL	D	0.11%
ECPG	D	0.11%
CABO	D	0.11%
PLNT	D	0.11%
WDAY	F	0.11%
NHC	D	0.1%
UE	B	0.1%
ENR	C	0.1%
STRL	B	0.1%
ESRT	B	0.1%
HL	C	0.1%
WWW	C	0.1%
TRMK	B	0.1%
CVBF	B	0.1%
BXC	C	0.1%
KALU	D	0.1%
DDS	D	0.1%
PBH	C	0.1%
AZZ	C	0.1%
TW	C	0.1%
ABR	B	0.1%
NTCT	C	0.1%
JBT	C	0.1%
ICFI	B	0.1%
CBU	B	0.1%
ROKU	C	0.1%
VIAV	C	0.1%
FFBC	C	0.1%
HLF	F	0.1%
KLG	F	0.09%
CCOI	A	0.09%
CORT	B	0.09%
DOLE	B	0.09%
ROCK	D	0.09%
ALEX	D	0.09%
IBTX	B	0.09%
EIG	A	0.09%
ERIE	D	0.09%
HI	F	0.09%
WSFS	C	0.09%
LXP	D	0.09%
MMSI	D	0.09%
DXCM	F	0.09%
KELYA	D	0.09%
MGEE	B	0.09%
POWI	D	0.09%
AX	D	0.09%
GFF	C	0.09%
UCTT	D	0.09%
PMT	B	0.09%
NGVT	F	0.09%
KOS	F	0.09%
ATI	D	0.09%
UCB	C	0.09%
SASR	B	0.09%
HTLF	B	0.09%
NPO	C	0.09%
BKE	B	0.09%
LRN	F	0.09%
SCSC	B	0.09%
NHI	D	0.09%
CNXN	B	0.09%
OTTR	F	0.09%
WSBC	C	0.09%
CWEN	D	0.09%
OSIS	B	0.09%
JACK	F	0.09%
PRIM	A	0.09%
PDM	A	0.09%
PBI	B	0.09%
PFS	A	0.09%
MYRG	D	0.09%
MGY	C	0.09%
RHP	C	0.09%
BCPC	B	0.09%
PRDO	D	0.08%
AMRK	C	0.08%
GO	D	0.08%
KFRC	F	0.08%
PRK	B	0.08%
NMIH	B	0.08%
FORM	F	0.08%
TTD	B	0.08%
OPEN	F	0.08%
NWBI	C	0.08%
ARI	F	0.08%
CDE	C	0.08%
PEB	F	0.08%
SAFT	C	0.08%
PAYC	D	0.08%
CVI	D	0.08%
OII	D	0.08%
LBRDK	C	0.08%
CSWI	B	0.08%
WNC	F	0.08%
HWKN	B	0.08%
RAMP	D	0.08%
ALIT	D	0.08%
BDN	A	0.08%
CSGS	C	0.08%
ESE	B	0.08%
IRDM	C	0.08%
INDB	B	0.08%
CWT	D	0.08%
FTDR	A	0.08%
KW	C	0.08%
FRME	B	0.08%
CHH	B	0.08%
RNG	C	0.08%
TALO	F	0.08%
RRR	F	0.08%
AKR	B	0.08%
AZEK	D	0.08%
AIN	F	0.08%
NWN	B	0.08%
TOWN	B	0.08%
STRA	F	0.08%
BLMN	D	0.08%
MGRC	D	0.08%
WOR	F	0.08%
GNL	B	0.08%
CENTA	F	0.08%
HHH	C	0.07%
EXPI	D	0.07%
BSY	D	0.07%
MRCY	D	0.07%
MD	B	0.07%
NNI	A	0.07%
ELME	D	0.07%
AAT	B	0.07%
TNC	D	0.07%
GWRE	B	0.07%
REYN	D	0.07%
KOP	D	0.07%
CASH	A	0.07%
NX	D	0.07%
GES	F	0.07%
NBTB	C	0.07%
CARG	B	0.07%
MRTN	F	0.07%
ZWS	B	0.07%
DFIN	C	0.07%
SCHL	F	0.07%
CNA	C	0.07%
ALG	D	0.07%
GPRE	F	0.07%
SEB	F	0.07%
PTVE	D	0.07%
MTRN	F	0.07%
MODG	D	0.07%
BRC	A	0.07%
VSAT	F	0.07%
BMI	D	0.07%
ROIC	A	0.07%
CBZ	F	0.07%
HLX	D	0.07%
OMCL	D	0.07%
ROG	D	0.07%
PLAB	D	0.07%
CNS	B	0.07%
KAI	B	0.07%
BKD	D	0.07%
THRM	F	0.07%
LADR	D	0.07%
JJSF	C	0.07%
KN	C	0.07%
GOLF	D	0.07%
REVG	C	0.07%
CWST	C	0.06%
HURN	C	0.06%
SNBR	C	0.06%
LYFT	D	0.06%
AXL	D	0.06%
EXAS	C	0.06%
TILE	A	0.06%
ESGR	B	0.06%
VBTX	A	0.06%
PRGS	B	0.06%
FBP	B	0.06%
WHD	C	0.06%
ADUS	C	0.06%
WDFC	B	0.06%
BV	B	0.06%
ENV	C	0.06%
BUSE	C	0.06%
VRRM	C	0.06%
GFS	F	0.06%
IART	D	0.06%
CUBI	D	0.06%
TSE	C	0.06%
KWR	D	0.06%
BLKB	B	0.06%
ENPH	F	0.06%
KTOS	B	0.06%
BSIG	B	0.06%
PJT	B	0.06%
MELI	B	0.06%
OXM	F	0.06%
CWH	C	0.06%
CAKE	B	0.06%
W	D	0.06%
SXI	B	0.06%
TRIP	D	0.06%
LGF.A	F	0.06%
OEC	D	0.06%
TRS	B	0.06%
TDOC	D	0.06%
SABR	C	0.06%
ALGT	C	0.06%
HMN	B	0.06%
FOXF	D	0.06%
STBA	C	0.06%
AUB	B	0.06%
ROAD	B	0.06%
AWR	B	0.06%
FCF	B	0.06%
PGRE	C	0.06%
BNL	B	0.06%
CPK	B	0.06%
EBC	A	0.06%
CRK	C	0.06%
GCI	C	0.06%
CAL	F	0.06%
DLX	D	0.06%
EYE	F	0.06%
AGX	B	0.05%
CODI	C	0.05%
BGS	D	0.05%
MATV	D	0.05%
LPG	F	0.05%
EAF	C	0.05%
HAYW	B	0.05%
HZO	D	0.05%
PODD	C	0.05%
HTLD	F	0.05%
INSW	D	0.05%
COHU	D	0.05%
GTN	D	0.05%
AMCX	F	0.05%
ICHR	F	0.05%
FBNC	B	0.05%
NBR	D	0.05%
FCPT	B	0.05%
ATSG	C	0.05%
MRC	C	0.05%
RES	D	0.05%
VRE	B	0.05%
NTB	B	0.05%
CNDT	C	0.05%
AY	B	0.05%
KLIC	D	0.05%
CMCO	D	0.05%
ECVT	F	0.05%
HCSG	D	0.05%
TRNO	D	0.05%
SJW	D	0.05%
SUPN	C	0.05%
JBSS	D	0.05%
CCO	C	0.05%
CSTM	F	0.05%
PTON	C	0.05%
CHEF	C	0.05%
CNMD	F	0.05%
EPRT	B	0.05%
CTS	C	0.05%
EMBC	F	0.05%
NTGR	B	0.05%
SMPL	D	0.05%
NVRI	D	0.05%
EPAC	A	0.05%
GRBK	B	0.05%
HAIN	C	0.05%
EFSC	B	0.05%
MMI	D	0.05%
DEA	A	0.05%
SONO	D	0.05%
PLAY	D	0.05%
GLOB	C	0.04%
SFBS	B	0.04%
GCO	D	0.04%
ASTH	B	0.04%
SCVL	D	0.04%
PEN	D	0.04%
IPAR	F	0.04%
ILPT	D	0.04%
SXC	D	0.04%
OFG	D	0.04%
PZZA	D	0.04%
HMST	B	0.04%
MATX	B	0.04%
LEVI	F	0.04%
ASIX	C	0.04%
SWBI	F	0.04%
FBRT	B	0.04%
UIS	C	0.04%
SPSC	C	0.04%
NVEE	D	0.04%
CNSL	B	0.04%
LKFN	C	0.04%
ZUMZ	D	0.04%
IVT	B	0.04%
PRAA	F	0.04%
VCTR	A	0.04%
VTLE	F	0.04%
AAL	C	0.04%
HLIO	C	0.04%
RKT	D	0.04%
STNG	F	0.04%
BZH	B	0.04%
VRTS	C	0.04%
INVA	B	0.04%
PUMP	D	0.04%
AGRO	C	0.04%
RNST	C	0.04%
LTC	C	0.04%
SGRY	C	0.04%
CMPR	F	0.04%
LNN	F	0.04%
ACCO	D	0.04%
RDUS	D	0.04%
TOST	B	0.04%
MYGN	F	0.04%
SFL	D	0.04%
ALK	B	0.04%
CRGY	C	0.04%
NOG	C	0.04%
DHT	C	0.04%
GLNG	C	0.04%
SNAP	D	0.04%
PARR	F	0.04%
CHCO	B	0.04%
ACLS	F	0.04%
GTLS	D	0.04%
MTUS	F	0.03%
CNNE	D	0.03%
OKTA	F	0.03%
AGM	C	0.03%
SBCF	B	0.03%
MERC	D	0.03%
CLVT	D	0.03%
STNE	F	0.03%
GDOT	C	0.03%
ETD	C	0.03%
CMRE	C	0.03%
WRLD	D	0.03%
DAC	C	0.03%
EVTC	D	0.03%
CLW	F	0.03%
CRAI	B	0.03%
VSEC	B	0.03%
RUN	F	0.03%
CFFN	B	0.03%
WTTR	C	0.03%
XP	F	0.03%
CPF	B	0.03%
CVGW	B	0.03%
CALX	C	0.03%
MXL	D	0.03%
PAGS	F	0.03%
EGBN	C	0.03%
RWT	B	0.03%
AMC	F	0.03%
MP	C	0.03%
CMTG	F	0.03%
NUS	F	0.03%
GLDD	A	0.03%
XPRO	F	0.03%
ASTE	D	0.03%
WOOF	C	0.03%
TKO	A	0.03%
SMP	F	0.03%
LYV	B	0.03%
USM	B	0.03%
CBL	A	0.03%
VRNT	F	0.03%
CTRE	B	0.03%
SBLK	F	0.03%
DT	C	0.03%
SSTK	F	0.03%
RC	F	0.03%
CARS	F	0.03%
MNRO	C	0.03%
STEP	A	0.03%
RGR	D	0.03%
ZIMV	F	0.03%
TRTX	C	0.03%
CPS	F	0.03%
RDNT	B	0.03%
IHRT	C	0.03%
DXPE	C	0.03%
PRA	C	0.03%
SNOW	D	0.03%
ALRM	F	0.03%
THRY	F	0.03%
SENEA	B	0.03%
CLDT	D	0.02%
BRSP	F	0.02%
IRBT	D	0.02%
PLCE	D	0.02%
CCSI	D	0.02%
GTY	B	0.02%
FIZZ	D	0.02%
PLOW	C	0.02%
AMBC	D	0.02%
DHIL	B	0.02%
MEI	D	0.02%
RYAM	C	0.02%
CSV	C	0.02%
ARKO	C	0.02%
SFIX	F	0.02%
IRWD	F	0.02%
OPK	D	0.02%
UFCS	D	0.02%
CTRN	D	0.02%
HAFC	A	0.02%
HFWA	C	0.02%
CMP	D	0.02%
WASH	B	0.02%
WABC	C	0.02%
OPI	F	0.02%
TMP	A	0.02%
BRKL	B	0.02%
SHYF	D	0.02%
SRCE	B	0.02%
AVO	C	0.02%
BANF	A	0.02%
CSR	D	0.02%
PFC	C	0.02%
ARCO	D	0.02%
MTW	D	0.02%
WOW	F	0.02%
WOLF	D	0.02%
SHEN	F	0.02%
BRY	F	0.02%
HASI	B	0.02%
GNK	F	0.02%
ALTO	D	0.02%
CNOB	B	0.02%
CLB	D	0.02%
EBF	D	0.02%
TCBK	B	0.02%
PRLB	D	0.02%
TPIC	C	0.02%
MATW	F	0.02%
KREF	B	0.02%
EDR	A	0.02%
BJRI	C	0.02%
DBI	F	0.02%
ALKS	C	0.02%
UTL	C	0.02%
CLOV	C	0.02%
OCFC	A	0.02%
DCO	B	0.02%
HSII	B	0.02%
ZEUS	D	0.02%
AVNS	C	0.02%
EVRI	A	0.02%
SBSI	B	0.02%
TEN	D	0.02%
BBSI	A	0.02%
AGL	F	0.02%
AHCO	C	0.02%
USNA	F	0.02%
VIR	F	0.02%
PRVA	F	0.02%
UVE	D	0.02%
HVT	F	0.02%
TBI	D	0.02%
PEGA	B	0.02%
GDEN	D	0.02%
RILY	F	0.01%
HOV	D	0.01%
LXU	C	0.01%
VTOL	D	0.01%
SNEX	A	0.01%
LGND	B	0.01%
AMRC	D	0.01%
IIPR	B	0.01%
BHLB	A	0.01%
LESL	F	0.01%
KE	D	0.01%
HLNE	A	0.01%
MBUU	C	0.01%
AVD	F	0.01%
AOSL	C	0.01%
GPRO	F	0.01%
AMSF	B	0.01%
PKST	C	0.01%
SEDG	F	0.01%
PETS	D	0.01%
CMTL	F	0.01%
BMBL	D	0.01%
GSL	D	0.01%
NU	C	0.01%
PRM	B	0.01%
CENT	F	0.01%
MODV	F	0.01%
CRMT	F	0.01%
GPMT	D	0.01%
SSYS	D	0.01%
JRVR	D	0.01%
MED	F	0.01%
MOV	F	0.01%
VREX	D	0.01%
DIN	D	0.01%
SSP	D	0.01%
SRI	F	0.01%
FLGT	F	0.01%
DENN	D	0.01%
CCRN	F	0.01%
USPH	D	0.01%
MYE	F	0.01%
OIS	F	0.01%
RGP	F	0.01%
TITN	D	0.01%
ATNI	C	0.01%
KRNY	C	0.01%
DAY	C	0.01%
NPK	D	0.01%
FLWS	D	0.01%
CHGG	F	0.0%
PCRX	D	0.0%
SEG	F	0.0%
ALGM	F	0.0%
TWI	F	0.0%
GIC	D	0.0%
WTI	F	0.0%
GSM	D	0.0%
AMPH	C	0.0%
INMD	D	0.0%
CRNC	D	0.0%
DNUT	D	0.0%
MSBI	C	0.0%
EVH	F	0.0%
HY	C	0.0%
MGPI	F	0.0%
HAYN	B	0.0%
THR	F	0.0%
ONEW	D	0.0%
PEBO	B	0.0%
NIC	A	0.0%
SPWH	D	0.0%
CRVL	B	0.0%
PFBC	B	0.0%
REX	D	0.0%
IIIN	F	0.0%
TBBK	A	0.0%
NBHC	B	0.0%
TTEC	D	0.0%
NR	F	0.0%
FBK	B	0.0%

FNDA Underweight 157 Positions Relative to QVMM

Symbol	Grade	Weight
CSL	B	-0.86%
EME	A	-0.79%
LII	B	-0.73%
WSM	D	-0.68%
RS	C	-0.64%
RPM	A	-0.61%
OC	B	-0.6%
TOL	B	-0.59%
AVTR	D	-0.59%
BURL	D	-0.59%
WSO	B	-0.59%
FNF	A	-0.58%
THC	C	-0.58%
RBA	D	-0.55%
ACM	A	-0.55%
RGA	B	-0.54%
EQH	A	-0.53%
GGG	C	-0.53%
COHR	B	-0.52%
USFD	B	-0.51%
CASY	B	-0.5%
CW	B	-0.5%
DKS	D	-0.49%
GLPI	B	-0.49%
EWBC	A	-0.48%
PFGC	A	-0.48%
ITT	C	-0.48%
WPC	D	-0.46%
JLL	B	-0.46%
ALLY	F	-0.46%
RRX	B	-0.46%
NVT	C	-0.46%
CACI	A	-0.44%
LECO	D	-0.44%
LAMR	B	-0.43%
OVV	D	-0.43%
SFM	B	-0.43%
JEF	A	-0.42%
UNM	A	-0.42%
BJ	C	-0.42%
FBIN	B	-0.4%
CCK	B	-0.4%
CIEN	C	-0.39%
SCI	D	-0.39%
ATR	B	-0.39%
AA	C	-0.39%
KBR	A	-0.38%
SNX	B	-0.37%
DUOL	B	-0.37%
EXP	A	-0.37%
EVR	A	-0.36%
PRI	B	-0.36%
LAD	B	-0.35%
AYI	B	-0.35%
ARMK	B	-0.35%
FHN	B	-0.35%
EHC	B	-0.35%
TTC	F	-0.35%
FLR	B	-0.35%
X	D	-0.34%
SKX	F	-0.34%
MUSA	D	-0.34%
ORI	A	-0.34%
TPX	F	-0.34%
UFPI	B	-0.33%
DCI	B	-0.33%
GPK	C	-0.33%
INGR	B	-0.32%
AFG	A	-0.32%
KNX	F	-0.31%
AXTA	B	-0.31%
AR	F	-0.31%
BERY	B	-0.3%
OGE	B	-0.29%
ZION	B	-0.29%
LNTH	C	-0.29%
BRX	B	-0.29%
MTZ	C	-0.29%
WCC	B	-0.29%
ARW	A	-0.28%
MIDD	D	-0.28%
TMHC	B	-0.27%
GXO	B	-0.27%
OSK	D	-0.27%
ALV	F	-0.27%
RYAN	C	-0.27%
VOYA	A	-0.27%
DINO	F	-0.27%
MTG	A	-0.26%
SEIC	A	-0.26%
DAR	F	-0.26%
SAIC	A	-0.26%
SNV	B	-0.26%
R	B	-0.26%
NOV	F	-0.26%
GNTX	D	-0.26%
PCTY	C	-0.26%
CLF	D	-0.26%
CMC	C	-0.25%
LSTR	B	-0.25%
LEA	F	-0.25%
MTSI	C	-0.25%
LPX	C	-0.25%
G	D	-0.24%
FAF	A	-0.24%
FYBR	C	-0.23%
AMG	A	-0.23%
AGCO	D	-0.23%
STWD	B	-0.23%
VNO	B	-0.23%
THO	C	-0.23%
OLN	D	-0.22%
ST	D	-0.22%
KBH	C	-0.22%
WHR	C	-0.22%
ALTR	B	-0.21%
MUR	F	-0.21%
POST	C	-0.21%
BC	C	-0.21%
TKR	B	-0.21%
PVH	D	-0.21%
KD	C	-0.21%
DOCS	C	-0.2%
UGI	B	-0.2%
AVT	A	-0.2%
NFG	A	-0.2%
SON	D	-0.2%
SLM	A	-0.2%
NXST	B	-0.2%
CELH	F	-0.2%
XRAY	F	-0.19%
GAP	D	-0.19%
JHG	A	-0.19%
THG	A	-0.19%
APPF	F	-0.18%
WLK	F	-0.18%
M	D	-0.17%
PII	D	-0.17%
ASGN	B	-0.17%
POR	B	-0.17%
FLO	C	-0.16%
CPRI	C	-0.16%
HOG	D	-0.16%
AN	D	-0.16%
CNO	A	-0.15%
WU	D	-0.15%
PBF	D	-0.14%
ROIV	C	-0.14%
PRGO	F	-0.13%
MAN	F	-0.13%
BHF	C	-0.12%
PK	D	-0.12%
PAG	D	-0.12%
RCM	B	-0.1%
GT	D	-0.1%
VAC	D	-0.09%
CRI	D	-0.08%