FNDA vs. USVM ETF Comparison

Comparison of Schwab Fundamental U.S. Small Company Index ETF (FNDA) to VictoryShares USAA MSCI USA Small Cap Value Momentum ETF (USVM)

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

$31.86

Average Daily Volume

497,487

Number of Holdings ^*

996

* may have additional holdings in another (foreign) market

USVM

VictoryShares USAA MSCI USA Small Cap Value Momentum ETF

USVM Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the MSCI USA Small Cap Select Value Momentum Blend Index. Under normal circumstances, the fund seeks to achieve its investment objective by investing at least 80% of its assets in securities in the index. The index is designed to deliver exposure to equity securities of small-capitalization U.S. issuers within the MSCI USA Small Cap Index (the parent index) that have higher exposure to value and momentum factors while also maintaining moderate index turnover and lower realized volatility than traditional capitalization weighted indexes.

Grade (RS Rating)

Last Trade

$91.12

Average Daily Volume

7,002

Number of Holdings ^*

278

* may have additional holdings in another (foreign) market

Performance

Period	FNDA	USVM
30 Days	8.26%	8.14%
60 Days	7.50%	7.88%
90 Days	8.41%	9.06%
12 Months	30.58%	39.19%

158 Overlapping Holdings

Symbol	Grade	Weight in FNDA	Weight in USVM	Overlap
ACIW	B	0.18%	0.45%	0.18%
ADTN	A	0.19%	0.3%	0.19%
ADUS	D	0.05%	0.35%	0.05%
AEO	F	0.1%	0.26%	0.1%
AGO	B	0.16%	0.49%	0.16%
AHCO	F	0.02%	0.15%	0.02%
AKR	B	0.08%	0.53%	0.08%
AMKR	D	0.17%	0.17%	0.17%
AMR	C	0.13%	0.19%	0.13%
AMWD	C	0.14%	0.33%	0.14%
ANDE	D	0.12%	0.32%	0.12%
ANF	C	0.34%	0.18%	0.18%
ARI	C	0.08%	0.32%	0.08%
AROC	B	0.14%	0.38%	0.14%
ASB	B	0.21%	0.45%	0.21%
ATGE	B	0.19%	0.31%	0.19%
AWI	A	0.23%	0.51%	0.23%
AXS	A	0.12%	0.54%	0.12%
AZTA	D	0.04%	0.27%	0.04%
AZZ	B	0.1%	0.31%	0.1%
BCO	D	0.14%	0.38%	0.14%
BHE	B	0.21%	0.28%	0.21%
BIO	D	0.19%	0.37%	0.19%
BKD	D	0.06%	0.2%	0.06%
BMBL	D	0.01%	0.23%	0.01%
BOOT	D	0.1%	0.24%	0.1%
CAL	D	0.06%	0.23%	0.06%
CALM	A	0.2%	0.52%	0.2%
CCS	D	0.19%	0.23%	0.19%
CHRD	D	0.12%	0.39%	0.12%
CIVI	D	0.11%	0.3%	0.11%
CLH	B	0.26%	0.47%	0.26%
CNK	B	0.14%	0.37%	0.14%
CNM	D	0.12%	0.26%	0.12%
CNX	A	0.17%	0.59%	0.17%
COKE	C	0.13%	0.29%	0.13%
COOP	B	0.22%	0.43%	0.22%
CORT	B	0.1%	0.3%	0.1%
CRL	C	0.11%	0.31%	0.11%
CRS	A	0.25%	0.32%	0.25%
CRUS	D	0.21%	0.19%	0.19%
CSWI	A	0.08%	0.49%	0.08%
CTRE	D	0.03%	0.6%	0.03%
CUBI	B	0.07%	0.27%	0.07%
CUZ	B	0.19%	0.41%	0.19%
CVLT	B	0.14%	0.32%	0.14%
CWEN	C	0.09%	0.32%	0.09%
CXW	B	0.28%	0.41%	0.28%
DDS	B	0.11%	0.31%	0.11%
DEI	B	0.22%	0.33%	0.22%
DTM	B	0.23%	0.8%	0.23%
DY	D	0.24%	0.36%	0.24%
ELAN	D	0.21%	0.2%	0.2%
ENOV	C	0.11%	0.36%	0.11%
ENSG	D	0.14%	0.5%	0.14%
ENVA	B	0.19%	0.42%	0.19%
ESAB	B	0.17%	0.52%	0.17%
ESNT	D	0.15%	0.45%	0.15%
ESRT	C	0.09%	0.37%	0.09%
EXEL	B	0.2%	0.52%	0.2%
FIX	A	0.25%	0.31%	0.25%
FORM	D	0.06%	0.17%	0.06%
FSS	B	0.11%	0.38%	0.11%
GBX	A	0.2%	0.44%	0.2%
GEF	A	0.16%	0.49%	0.16%
GEO	B	0.42%	0.46%	0.42%
GES	F	0.06%	0.21%	0.06%
GHC	C	0.23%	0.48%	0.23%
GIII	D	0.18%	0.32%	0.18%
GMS	B	0.21%	0.42%	0.21%
GRBK	D	0.04%	0.27%	0.04%
GVA	A	0.25%	0.59%	0.25%
GWRE	A	0.07%	0.45%	0.07%
H	B	0.14%	0.44%	0.14%
HALO	F	0.06%	0.29%	0.06%
HCC	B	0.27%	0.25%	0.25%
HE	C	0.14%	0.13%	0.13%
HIW	D	0.21%	0.33%	0.21%
HNI	B	0.18%	0.42%	0.18%
HOV	D	0.0%	0.13%	0.0%
HRB	D	0.13%	0.34%	0.13%
IAC	D	0.12%	0.29%	0.12%
IIPR	D	0.0%	0.31%	0.0%
INSW	F	0.04%	0.3%	0.04%
INVA	D	0.04%	0.56%	0.04%
ITGR	B	0.12%	0.4%	0.12%
JBGS	D	0.12%	0.32%	0.12%
JBLU	F	0.19%	0.22%	0.19%
KEX	C	0.2%	0.42%	0.2%
KFY	B	0.21%	0.43%	0.21%
KRC	C	0.22%	0.33%	0.22%
LEVI	F	0.03%	0.25%	0.03%
LGND	B	0.01%	0.28%	0.01%
LPG	F	0.03%	0.19%	0.03%
LRN	A	0.12%	0.46%	0.12%
LZB	B	0.15%	0.31%	0.15%
MAC	B	0.28%	0.31%	0.28%
MATX	C	0.04%	0.45%	0.04%
MCY	A	0.14%	0.4%	0.14%
MEDP	D	0.06%	0.27%	0.06%
MHO	D	0.25%	0.25%	0.25%
MOD	A	0.15%	0.2%	0.15%
MODG	F	0.05%	0.21%	0.05%
MOG.A	B	0.22%	0.41%	0.22%
NHI	D	0.09%	0.51%	0.09%
NMRK	B	0.14%	0.32%	0.14%
NTCT	C	0.1%	0.3%	0.1%
OMI	F	0.14%	0.16%	0.14%
ONTO	D	0.07%	0.16%	0.07%
PATK	D	0.18%	0.36%	0.18%
PBH	A	0.11%	0.5%	0.11%
PEB	D	0.07%	0.32%	0.07%
PHIN	A	0.17%	0.34%	0.17%
PINC	B	0.21%	0.54%	0.21%
PIPR	B	0.17%	0.46%	0.17%
PLAB	C	0.07%	0.19%	0.07%
PLUS	F	0.11%	0.26%	0.11%
PLXS	B	0.24%	0.43%	0.24%
PR	B	0.07%	0.4%	0.07%
PRDO	B	0.09%	0.31%	0.09%
PRIM	A	0.12%	0.43%	0.12%
PSN	D	0.11%	0.42%	0.11%
RDN	C	0.24%	0.41%	0.24%
RDNT	B	0.04%	0.34%	0.04%
REVG	B	0.08%	0.21%	0.08%
ROAD	A	0.07%	0.4%	0.07%
SAH	A	0.14%	0.29%	0.14%
SATS	D	0.38%	0.17%	0.17%
SBRA	C	0.18%	0.56%	0.18%
SCS	C	0.15%	0.29%	0.15%
SEB	F	0.06%	0.41%	0.06%
SEM	B	0.22%	0.32%	0.22%
SF	B	0.31%	0.66%	0.31%
SKYW	B	0.24%	0.45%	0.24%
SLG	B	0.15%	0.3%	0.15%
SLVM	B	0.25%	0.25%	0.25%
SNDR	B	0.14%	0.48%	0.14%
SPB	C	0.23%	0.36%	0.23%
STC	B	0.19%	0.41%	0.19%
STRL	B	0.11%	0.32%	0.11%
SWX	B	0.26%	0.46%	0.26%
TTMI	B	0.22%	0.36%	0.22%
TXRH	C	0.28%	0.53%	0.28%
UAA	C	0.25%	0.32%	0.25%
UCTT	D	0.08%	0.22%	0.08%
USM	B	0.03%	0.2%	0.03%
UVV	B	0.15%	0.36%	0.15%
VCTR	B	0.04%	0.42%	0.04%
VIR	D	0.03%	0.2%	0.03%
VIRT	B	0.22%	0.32%	0.22%
VSH	D	0.09%	0.29%	0.09%
VSTO	A	0.14%	0.4%	0.14%
VSTS	C	0.17%	0.17%	0.17%
VTLE	C	0.04%	0.27%	0.04%
VYX	B	0.16%	0.26%	0.16%
WGO	C	0.17%	0.33%	0.17%
WING	D	0.04%	0.27%	0.04%
WTTR	B	0.03%	0.36%	0.03%

FNDA Overweight 838 Positions Relative to USVM

Symbol	Grade	Weight
RCL	A	0.45%
UAL	A	0.42%
FICO	B	0.36%
COIN	C	0.34%
UTHR	C	0.32%
GME	C	0.31%
APP	B	0.3%
XPO	B	0.3%
VSCO	B	0.29%
BKU	A	0.29%
FLS	B	0.29%
AIT	A	0.28%
HRI	B	0.28%
WAL	B	0.28%
KMPR	B	0.28%
WBS	A	0.26%
OHI	C	0.26%
BWXT	B	0.26%
WWD	B	0.25%
LITE	B	0.25%
PRG	C	0.25%
Z	A	0.25%
VMI	B	0.25%
PNFP	B	0.24%
VRT	B	0.24%
SAIA	B	0.24%
HEI	B	0.24%
FRT	B	0.23%
INCY	C	0.23%
CFR	B	0.23%
FDP	B	0.23%
VLTO	D	0.23%
WTFC	A	0.23%
PB	A	0.23%
SIG	B	0.23%
LOPE	B	0.23%
FNB	A	0.23%
WH	B	0.23%
BKH	A	0.23%
ESI	A	0.22%
SPOT	B	0.22%
CBT	C	0.22%
CWK	B	0.22%
CR	A	0.22%
AVNT	B	0.22%
ZM	B	0.22%
GATX	A	0.22%
CADE	B	0.22%
FDS	B	0.21%
HWC	B	0.21%
TPC	C	0.21%
RXO	C	0.21%
CBSH	A	0.21%
IDA	A	0.21%
BYD	C	0.21%
PNM	F	0.2%
TTEK	F	0.2%
SBH	C	0.2%
FHB	A	0.2%
TRN	B	0.2%
SCCO	F	0.2%
OZK	B	0.2%
VLY	B	0.2%
MC	B	0.2%
ELS	C	0.2%
UNIT	B	0.2%
ARCB	C	0.19%
CRC	A	0.19%
TWLO	A	0.19%
SR	A	0.19%
LCII	C	0.19%
FCN	D	0.19%
EAT	A	0.19%
DASH	A	0.19%
NVST	B	0.19%
ENS	D	0.19%
HP	B	0.19%
AGNC	D	0.19%
OGS	A	0.19%
ACA	A	0.19%
UBSI	B	0.19%
SMG	D	0.19%
COLB	A	0.19%
MAT	D	0.19%
KNF	A	0.19%
HLI	B	0.19%
WMK	C	0.18%
WYNN	D	0.18%
NYT	C	0.18%
CUBE	D	0.18%
AMH	D	0.18%
RPRX	D	0.18%
DBRG	F	0.18%
TPL	A	0.18%
TEX	D	0.18%
COLM	B	0.18%
KMT	B	0.18%
URBN	C	0.18%
IMKTA	C	0.18%
BDC	B	0.17%
VNT	B	0.17%
HXL	D	0.17%
SSD	D	0.17%
APLE	B	0.17%
ALE	A	0.17%
NWE	A	0.17%
LAUR	A	0.17%
VVV	F	0.17%
NOW	A	0.17%
PCH	D	0.17%
SUM	B	0.17%
ONB	B	0.17%
PSMT	C	0.17%
UMBF	B	0.17%
CATY	B	0.17%
WTM	A	0.17%
MTDR	B	0.17%
FUL	F	0.17%
NJR	A	0.17%
GBCI	B	0.17%
UNF	B	0.17%
SPR	D	0.17%
CSGP	D	0.17%
ASH	D	0.17%
SN	D	0.17%
EEFT	B	0.17%
LFUS	F	0.17%
SHOO	D	0.17%
PTEN	C	0.16%
RH	B	0.16%
EBS	C	0.16%
PLTR	B	0.16%
SKY	A	0.16%
COLD	D	0.16%
SIGI	C	0.16%
AVA	A	0.16%
WAFD	B	0.16%
VEEV	C	0.16%
OLLI	D	0.16%
APO	B	0.16%
ZD	B	0.16%
OUT	A	0.16%
GTES	A	0.16%
MASI	A	0.16%
LNW	D	0.16%
SFNC	B	0.16%
ENTG	D	0.16%
B	B	0.16%
PFSI	D	0.16%
CBRL	C	0.15%
DNOW	B	0.15%
CHDN	B	0.15%
AGR	B	0.15%
TCBI	B	0.15%
GMED	A	0.15%
FWRD	D	0.15%
ROL	B	0.15%
TNL	A	0.15%
ARES	A	0.15%
NOMD	D	0.15%
CEIX	A	0.15%
APAM	B	0.15%
MTX	B	0.15%
LGIH	D	0.15%
MTCH	D	0.15%
WD	D	0.15%
PDCO	D	0.15%
KTB	B	0.15%
NNN	D	0.15%
SITE	D	0.15%
RYN	D	0.14%
RRC	B	0.14%
ICUI	D	0.14%
EXLS	B	0.14%
APOG	B	0.14%
JAZZ	B	0.14%
BOH	B	0.14%
CDP	C	0.14%
TDC	D	0.14%
WTS	B	0.14%
KAR	B	0.14%
FULT	A	0.14%
APG	B	0.14%
TYL	C	0.14%
MKTX	D	0.14%
MLKN	D	0.14%
SLGN	A	0.14%
BXMT	C	0.14%
SLAB	D	0.14%
TPG	A	0.14%
CACC	D	0.14%
PPC	C	0.14%
YELP	C	0.14%
NEU	C	0.14%
CROX	D	0.14%
CVCO	A	0.14%
SXT	B	0.14%
CGNX	C	0.14%
ABNB	C	0.13%
WMS	D	0.13%
DNB	B	0.13%
SCL	C	0.13%
IOSP	B	0.13%
RNR	C	0.13%
WEX	D	0.13%
HELE	C	0.13%
DORM	B	0.13%
FND	C	0.13%
ATKR	C	0.13%
RGLD	C	0.13%
SMTC	B	0.13%
THS	D	0.13%
IGT	F	0.13%
DLB	B	0.13%
RLI	B	0.13%
UPBD	B	0.13%
EPR	D	0.13%
PLNT	A	0.13%
IDCC	B	0.13%
CABO	C	0.13%
FTI	A	0.13%
ABCB	B	0.13%
RYI	C	0.13%
DBX	B	0.13%
WEN	D	0.13%
ITRI	B	0.13%
HOPE	B	0.12%
FSLR	F	0.12%
ETSY	D	0.12%
DRH	B	0.12%
CHX	C	0.12%
COMP	B	0.12%
HGV	B	0.12%
WTRG	B	0.12%
ECPG	B	0.12%
HEES	B	0.12%
PTC	A	0.12%
VRSN	F	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%
LBRT	D	0.12%
RLJ	B	0.12%
TREX	C	0.12%
JWN	C	0.12%
AIR	B	0.12%
RIG	D	0.12%
BANR	B	0.12%
MWA	B	0.12%
FELE	B	0.12%
WWW	B	0.12%
WDAY	B	0.12%
BGC	C	0.12%
FR	D	0.11%
SASR	B	0.11%
EPC	D	0.11%
TECH	D	0.11%
WSBC	B	0.11%
STAG	F	0.11%
CPNG	D	0.11%
AX	A	0.11%
FN	D	0.11%
HI	C	0.11%
KALU	C	0.11%
XHR	B	0.11%
VIAV	B	0.11%
PPBI	B	0.11%
MPWR	F	0.11%
AEIS	B	0.11%
TRMK	B	0.11%
SKT	B	0.11%
MORN	B	0.11%
HPP	F	0.11%
BOKF	B	0.11%
DIOD	D	0.11%
PECO	A	0.11%
HTH	B	0.11%
MANH	D	0.11%
CBU	B	0.11%
HLF	C	0.11%
BFAM	D	0.11%
FIBK	A	0.11%
MMS	F	0.11%
BLD	D	0.11%
CHE	D	0.11%
CVBF	A	0.11%
FHI	A	0.11%
TNET	D	0.11%
FFBC	A	0.11%
IBOC	A	0.11%
MYRG	B	0.11%
IBKR	A	0.11%
NGVT	B	0.11%
AM	A	0.1%
WSFS	A	0.1%
ABR	C	0.1%
SIRI	C	0.1%
NHC	C	0.1%
GFF	A	0.1%
WSC	D	0.1%
HTLF	B	0.1%
ENR	B	0.1%
ACHC	F	0.1%
MGEE	C	0.1%
FIVE	F	0.1%
HAE	C	0.1%
UE	C	0.1%
UCB	A	0.1%
SHO	C	0.1%
COMM	D	0.1%
LANC	C	0.1%
DHC	F	0.1%
BKE	B	0.1%
HOMB	A	0.1%
PFS	B	0.1%
PAYC	B	0.1%
KRG	B	0.1%
SAM	C	0.1%
SSB	B	0.1%
BXC	B	0.1%
CHH	A	0.09%
LBRDK	C	0.09%
ALEX	C	0.09%
CNXN	C	0.09%
CSGS	B	0.09%
PDM	D	0.09%
ESE	B	0.09%
AAON	B	0.09%
FTDR	A	0.09%
CENTA	C	0.09%
PINS	D	0.09%
RNG	B	0.09%
RAMP	C	0.09%
RBC	A	0.09%
AIN	C	0.09%
STRA	C	0.09%
ROCK	C	0.09%
ICFI	F	0.09%
NPO	A	0.09%
IBTX	B	0.09%
FFIN	B	0.09%
MMSI	B	0.09%
MGRC	B	0.09%
PBI	B	0.09%
MGY	A	0.09%
DXCM	D	0.09%
SCSC	B	0.09%
FRME	B	0.09%
RHP	B	0.09%
OSIS	B	0.09%
EIG	B	0.09%
TW	A	0.09%
OTTR	C	0.09%
IBP	D	0.09%
INDB	B	0.09%
JACK	D	0.09%
VC	D	0.09%
BCPC	B	0.09%
SVC	F	0.09%
ROKU	D	0.09%
ORA	B	0.09%
BRKR	D	0.09%
MSA	D	0.09%
CNS	B	0.08%
OMCL	C	0.08%
ROIC	A	0.08%
YETI	C	0.08%
RRR	D	0.08%
DLX	B	0.08%
DOLE	D	0.08%
CARG	C	0.08%
GOLF	B	0.08%
MD	B	0.08%
KFRC	D	0.08%
ATI	D	0.08%
IRDM	D	0.08%
SAFT	C	0.08%
HL	D	0.08%
WNC	C	0.08%
OII	B	0.08%
TTD	B	0.08%
KW	B	0.08%
KLG	C	0.08%
ALGT	B	0.08%
CCOI	B	0.08%
PTON	B	0.08%
EGP	F	0.08%
PMT	D	0.08%
KOS	F	0.08%
BMRN	D	0.08%
WOR	F	0.08%
SYNA	C	0.08%
LXP	D	0.08%
GO	C	0.08%
NWBI	B	0.08%
NWN	A	0.08%
LILAK	D	0.08%
TALO	C	0.08%
CBZ	B	0.08%
PRK	B	0.08%
POWI	D	0.08%
TOWN	B	0.08%
OPCH	D	0.08%
KAI	A	0.08%
AZEK	A	0.08%
ALIT	C	0.08%
PJT	A	0.07%
CPK	A	0.07%
CNA	B	0.07%
KOP	C	0.07%
HHH	B	0.07%
BMI	B	0.07%
QLYS	C	0.07%
SMCI	F	0.07%
SABR	C	0.07%
HLX	B	0.07%
EXPO	D	0.07%
BSIG	A	0.07%
NMIH	D	0.07%
FCF	A	0.07%
MRTN	C	0.07%
BRC	D	0.07%
EBC	B	0.07%
HQY	B	0.07%
EYE	C	0.07%
AUB	B	0.07%
OLED	D	0.07%
BLMN	F	0.07%
CRK	B	0.07%
ROG	D	0.07%
IART	C	0.07%
IRT	A	0.07%
OPEN	D	0.07%
SXI	B	0.07%
PTVE	B	0.07%
ADC	B	0.07%
REXR	F	0.07%
NX	C	0.07%
JJSF	B	0.07%
LYFT	C	0.07%
CASH	A	0.07%
ZWS	B	0.07%
NSP	D	0.07%
BDN	C	0.07%
MRCY	B	0.07%
THRM	D	0.07%
HMN	B	0.07%
GNL	F	0.07%
AMN	F	0.07%
CDE	D	0.07%
CAKE	C	0.07%
HWKN	B	0.07%
TILE	B	0.07%
NBTB	B	0.07%
ALG	B	0.07%
CXT	B	0.07%
KN	B	0.07%
LADR	B	0.07%
CWT	D	0.07%
MTRN	C	0.07%
COTY	F	0.06%
AXL	C	0.06%
CTS	C	0.06%
SMPL	B	0.06%
FBP	B	0.06%
EPAC	B	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	B	0.06%
TOST	B	0.06%
NTGR	B	0.06%
ECVT	C	0.06%
WHD	B	0.06%
MMI	B	0.06%
EMBC	C	0.06%
TDOC	C	0.06%
BLKB	B	0.06%
GCI	D	0.06%
KTOS	B	0.06%
OXM	D	0.06%
TNC	D	0.06%
GFS	C	0.06%
TRS	B	0.06%
REYN	D	0.06%
BSY	D	0.06%
BUSE	B	0.06%
WDFC	B	0.06%
OEC	C	0.06%
EFSC	B	0.06%
TRIP	F	0.06%
HURN	B	0.06%
KWR	C	0.06%
AWR	B	0.06%
SONO	C	0.06%
NNI	D	0.06%
DFIN	D	0.06%
PGRE	F	0.06%
ATSG	B	0.06%
VBTX	B	0.06%
ELME	D	0.06%
LGF.A	C	0.06%
CWH	B	0.06%
PLAY	D	0.06%
SCHL	D	0.06%
KELYA	F	0.06%
STBA	B	0.06%
ERIE	D	0.06%
EAF	C	0.06%
NBIX	C	0.06%
NSA	D	0.06%
EXPI	C	0.06%
AAT	B	0.06%
SJW	D	0.05%
UIS	B	0.05%
LIVN	F	0.05%
ACCO	C	0.05%
VRTS	B	0.05%
CNDT	C	0.05%
AAL	B	0.05%
TRNO	F	0.05%
AY	B	0.05%
NTB	B	0.05%
HAYW	B	0.05%
CODI	B	0.05%
CHCO	B	0.05%
HTLD	B	0.05%
KLIC	B	0.05%
VRRM	D	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	C	0.05%
EPRT	B	0.05%
DEA	D	0.05%
SXC	A	0.05%
PODD	C	0.05%
SNBR	F	0.05%
FBNC	A	0.05%
BRBR	A	0.05%
CCO	C	0.05%
AMRK	F	0.05%
CHEF	A	0.05%
CMCO	B	0.05%
PSTG	D	0.05%
SUPN	C	0.05%
MELI	D	0.05%
BV	B	0.05%
ESGR	B	0.05%
CNMD	C	0.05%
AMCX	C	0.05%
SENEA	B	0.04%
ASIX	A	0.04%
OFG	B	0.04%
ALRM	C	0.04%
IPAR	B	0.04%
CARS	B	0.04%
NVEE	F	0.04%
PRA	C	0.04%
CNSL	C	0.04%
SWBI	C	0.04%
ENPH	F	0.04%
FBRT	C	0.04%
PUMP	B	0.04%
IHRT	C	0.04%
CPS	C	0.04%
GLOB	B	0.04%
WFRD	D	0.04%
SFL	D	0.04%
GLNG	D	0.04%
RDUS	C	0.04%
ZUMZ	C	0.04%
GCO	B	0.04%
CSTM	F	0.04%
DHT	F	0.04%
GTN	F	0.04%
RES	D	0.04%
EXAS	D	0.04%
SFBS	B	0.04%
RGEN	D	0.04%
AGRO	D	0.04%
IVT	B	0.04%
PEN	B	0.04%
CMPR	D	0.04%
DXPE	B	0.04%
PARR	D	0.04%
ZI	D	0.04%
SNAP	C	0.04%
PRAA	C	0.04%
HLIO	B	0.04%
LNN	B	0.04%
HAIN	C	0.04%
NBR	C	0.04%
NOG	A	0.04%
LSCC	D	0.04%
W	F	0.04%
HZO	D	0.04%
JBSS	D	0.04%
BZH	B	0.04%
NEOG	F	0.04%
LKFN	B	0.04%
CRGY	B	0.04%
LTC	B	0.04%
RNST	B	0.04%
CNXC	F	0.04%
FCPT	C	0.04%
COHU	C	0.04%
CMRE	C	0.03%
ASTH	D	0.03%
KNSL	B	0.03%
DAC	B	0.03%
USNA	C	0.03%
XP	F	0.03%
BBSI	B	0.03%
WRLD	C	0.03%
CRAI	B	0.03%
MYGN	F	0.03%
RWT	D	0.03%
PAGS	F	0.03%
CNNE	B	0.03%
ZIMV	D	0.03%
THRY	F	0.03%
GDEN	B	0.03%
EVTC	B	0.03%
CVGW	D	0.03%
HMST	D	0.03%
HSII	B	0.03%
SBCF	A	0.03%
TKO	B	0.03%
AGM	C	0.03%
PRLB	A	0.03%
RGR	F	0.03%
ILPT	D	0.03%
UVE	B	0.03%
PEGA	A	0.03%
CPF	A	0.03%
SBLK	F	0.03%
MXL	C	0.03%
RMBS	C	0.03%
DT	C	0.03%
PRVA	B	0.03%
MP	B	0.03%
GLDD	B	0.03%
SSTK	F	0.03%
RKT	F	0.03%
RC	D	0.03%
STNG	F	0.03%
AMC	C	0.03%
CFFN	B	0.03%
CBL	A	0.03%
VAL	D	0.03%
VRNT	C	0.03%
MATV	D	0.03%
CMTG	F	0.03%
TSE	F	0.03%
SCVL	F	0.03%
SMP	B	0.03%
SGRY	F	0.03%
NUS	D	0.03%
SPSC	C	0.03%
STEP	B	0.03%
MNRO	D	0.03%
TRTX	B	0.03%
ACLS	F	0.03%
SNOW	C	0.03%
LYV	A	0.03%
NVRI	F	0.03%
EGBN	B	0.03%
ASTE	B	0.03%
VSEC	C	0.03%
PZZA	D	0.03%
BGS	F	0.03%
PLCE	C	0.02%
GTY	B	0.02%
ARKO	C	0.02%
CTRN	D	0.02%
CLDT	B	0.02%
NPK	B	0.02%
HASI	D	0.02%
BRY	F	0.02%
FIZZ	C	0.02%
CLOV	D	0.02%
AMBC	C	0.02%
CLVT	F	0.02%
ALTO	F	0.02%
IRWD	F	0.02%
BRSP	B	0.02%
RYAM	C	0.02%
KRNY	B	0.02%
CMP	C	0.02%
CCSI	C	0.02%
DAY	B	0.02%
ARCO	F	0.02%
DHIL	A	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	B	0.02%
KREF	D	0.02%
SRCE	B	0.02%
EDR	A	0.02%
ALKS	B	0.02%
CLB	B	0.02%
WABC	B	0.02%
HVT	D	0.02%
AVO	C	0.02%
HFWA	B	0.02%
MTW	C	0.02%
EBF	F	0.02%
MERC	D	0.02%
XPRO	F	0.02%
CNOB	B	0.02%
WASH	C	0.02%
CALX	D	0.02%
ZEUS	C	0.02%
BANF	B	0.02%
TMP	B	0.02%
SHYF	C	0.02%
TCBK	B	0.02%
UFCS	B	0.02%
UTL	B	0.02%
HAFC	A	0.02%
MATW	C	0.02%
BJRI	B	0.02%
STNE	F	0.02%
WMG	C	0.02%
PFC	A	0.02%
EVRI	A	0.02%
DCO	C	0.02%
TBI	F	0.02%
BRKL	B	0.02%
CLW	F	0.02%
WOOF	D	0.02%
MTUS	C	0.02%
GDOT	D	0.02%
OKTA	C	0.02%
SBSI	B	0.02%
OCFC	B	0.02%
SFIX	B	0.02%
ETD	C	0.02%
VTOL	B	0.01%
IIIN	C	0.01%
RILY	F	0.01%
NBHC	B	0.01%
SNEX	B	0.01%
LESL	C	0.01%
FBK	B	0.01%
GPRO	F	0.01%
MBUU	C	0.01%
BHLB	B	0.01%
PKST	D	0.01%
KE	C	0.01%
HLNE	B	0.01%
AVD	D	0.01%
JRVR	F	0.01%
PRM	C	0.01%
GSL	F	0.01%
AMSF	B	0.01%
SSP	F	0.01%
SRI	F	0.01%
MODV	C	0.01%
ATNI	F	0.01%
NU	C	0.01%
CRMT	C	0.01%
PETS	C	0.01%
CENT	C	0.01%
MED	F	0.01%
CCRN	F	0.01%
FLGT	F	0.01%
MOV	C	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	C	0.01%
AGL	F	0.01%
DIN	C	0.01%
VREX	C	0.01%
WOLF	F	0.01%
TITN	C	0.01%
RGP	F	0.01%
USPH	B	0.01%
OIS	C	0.01%
FLWS	F	0.01%
PLOW	D	0.01%
MEI	D	0.01%
CHGG	D	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	D	0.0%
SPWH	F	0.0%
DNUT	D	0.0%
HAYN	C	0.0%
ONEW	D	0.0%
THR	B	0.0%
INMD	C	0.0%
TTEC	F	0.0%
MSBI	B	0.0%
AMRC	F	0.0%
CMTL	F	0.0%
REX	D	0.0%
SEDG	F	0.0%
PEBO	A	0.0%
LXU	B	0.0%
TBBK	B	0.0%
AOSL	C	0.0%
NR	B	0.0%
CRVL	A	0.0%
NIC	B	0.0%
PFBC	B	0.0%

FNDA Underweight 120 Positions Relative to USVM

Symbol	Grade	Weight
UNM	A	-0.78%
INGR	B	-0.69%
CACI	D	-0.69%
CW	B	-0.66%
KBR	F	-0.62%
ORI	A	-0.59%
EHC	B	-0.58%
TAP	C	-0.56%
NFG	A	-0.56%
JEF	A	-0.56%
POST	C	-0.54%
FFIV	B	-0.51%
TGNA	B	-0.51%
EVR	B	-0.5%
ALSN	B	-0.49%
CNO	A	-0.48%
MLI	C	-0.47%
GNW	A	-0.46%
MTG	C	-0.46%
R	B	-0.45%
SFM	A	-0.45%
SNX	C	-0.45%
AVT	C	-0.45%
GPOR	B	-0.44%
CMC	B	-0.44%
MUSA	A	-0.44%
BPOP	B	-0.42%
ARW	D	-0.41%
RUSHA	C	-0.4%
DVA	B	-0.4%
WT	B	-0.39%
OVV	B	-0.39%
WKC	D	-0.39%
RL	B	-0.39%
BTU	B	-0.39%
MDU	D	-0.39%
GPI	A	-0.38%
MTSI	B	-0.37%
QTWO	A	-0.37%
UHS	D	-0.36%
PK	B	-0.36%
AL	B	-0.36%
BHF	B	-0.36%
FYBR	D	-0.35%
LMAT	A	-0.35%
IVZ	B	-0.35%
JXN	C	-0.35%
NAVI	C	-0.35%
JLL	D	-0.35%
NTRA	B	-0.35%
TMHC	B	-0.34%
LNC	B	-0.34%
MOS	F	-0.33%
LPX	B	-0.33%
ABG	B	-0.33%
ALKT	B	-0.33%
REZI	A	-0.33%
NXST	C	-0.32%
UGI	A	-0.32%
TPH	D	-0.31%
AN	C	-0.31%
SOLV	C	-0.3%
BCC	B	-0.29%
VRNS	D	-0.29%
PRGO	B	-0.29%
NATL	B	-0.28%
KBH	D	-0.28%
PVH	C	-0.28%
SM	B	-0.28%
IESC	B	-0.27%
GT	C	-0.27%
VERX	B	-0.27%
DXC	B	-0.27%
NSIT	F	-0.26%
POWL	C	-0.26%
AMRX	C	-0.26%
SANM	B	-0.26%
GKOS	B	-0.26%
CLF	F	-0.26%
MTH	D	-0.25%
COHR	B	-0.25%
HIMS	C	-0.25%
MHK	D	-0.24%
BFH	B	-0.24%
PBF	D	-0.24%
LUMN	C	-0.23%
M	D	-0.23%
CRNX	C	-0.23%
CAR	C	-0.23%
ADMA	B	-0.22%
DKS	C	-0.22%
TDS	B	-0.22%
LBPH	A	-0.22%
UFPT	B	-0.21%
MSGE	F	-0.21%
FTRE	D	-0.2%
COLL	F	-0.2%
PI	D	-0.2%
VITL	D	-0.19%
KSS	F	-0.19%
CLSK	C	-0.19%
GAP	B	-0.19%
VECO	F	-0.19%
HTZ	C	-0.18%
OGN	D	-0.18%
XRX	F	-0.18%
SOUN	C	-0.17%
ODP	F	-0.16%
QRVO	F	-0.16%
RNA	D	-0.16%
JANX	C	-0.15%
DFH	D	-0.15%
MPW	F	-0.14%
ZETA	D	-0.14%
INSM	C	-0.13%
NPAB	B	-0.13%
VKTX	F	-0.12%
HUMA	F	-0.12%
DYN	F	-0.1%
MRVI	F	-0.08%