FNDB vs. IWR ETF Comparison

Comparison of Schwab Fundamental U.S. Broad Market Index ETF (FNDB) to iShares Russell Mid-Cap ETF (IWR)

FNDB

Schwab Fundamental U.S. Broad Market Index ETF

FNDB Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Index. To pursue its goal, the fund generally invests in stocks that are included in the Russell Fundamental U.S. 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

$65.60

Average Daily Volume

24,788

Number of Holdings ^*

1673

* may have additional holdings in another (foreign) market

IWR

iShares Russell Mid-Cap ETF

IWR Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index measures the performance of the mid-capitalization sector of the U.S. equity market. The underlying index is a float-adjusted, capitalization-weighted index of the 800 smallest issuers in the Russell 1000® Index.

Grade (RS Rating)

Last Trade

$80.34

Average Daily Volume

998,585

Number of Holdings ^*

805

* may have additional holdings in another (foreign) market

Performance

Period	FNDB	IWR
30 Days	1.24%	-0.33%
60 Days	3.25%	0.32%
90 Days	1.88%	-1.22%
12 Months	17.89%	11.89%

695 Overlapping Holdings

	Symbol	Grade	Weight in FNDB	Weight in IWR	Overlap
	A	D	0.06%	0.35%	0.06%
	AA	B	0.06%	0.06%	0.06%
	AAL	F	0.01%	0.07%	0.01%
	AAP	F	0.04%	0.03%	0.03%
	ACGL	C	0.04%	0.33%	0.04%
	ACHC	F	0.01%	0.06%	0.01%
	ACI	F	0.02%	0.08%	0.02%
	ACM	D	0.04%	0.11%	0.04%
	ADC	B	0.0%	0.06%	0.0%
	AEE	D	0.05%	0.17%	0.05%
	AES	D	0.06%	0.12%	0.06%
	AFG	D	0.04%	0.08%	0.04%
	AFL	B	0.18%	0.47%	0.18%
	AGCO	F	0.03%	0.06%	0.03%
	AGL	D	0.0%	0.02%	0.0%
	AGNC	A	0.02%	0.06%	0.02%
	AGO	B	0.02%	0.04%	0.02%
	AGR	C	0.01%	0.02%	0.01%
	AIRC	A	0.01%	0.05%	0.01%
	AIZ	D	0.02%	0.08%	0.02%
	AJG	A	0.04%	0.51%	0.04%
	AKAM	F	0.03%	0.12%	0.03%
	AL	C	0.02%	0.05%	0.02%
	ALB	F	0.02%	0.1%	0.02%
	ALGM	C	0.0%	0.02%	0.0%
	ALGN	D	0.02%	0.17%	0.02%
	ALK	D	0.01%	0.05%	0.01%
	ALL	D	0.24%	0.38%	0.24%
	ALLE	D	0.02%	0.09%	0.02%
	ALLY	B	0.12%	0.1%	0.1%
	ALSN	C	0.04%	0.06%	0.04%
	AM	B	0.01%	0.05%	0.01%
	AMC	D	0.0%	0.01%	0.0%
	AMCR	D	0.01%	0.13%	0.01%
	AME	D	0.04%	0.35%	0.04%
	AMED	A	0.01%	0.03%	0.01%
	AMG	D	0.03%	0.05%	0.03%
	AMH	A	0.01%	0.11%	0.01%
	AMP	B	0.12%	0.39%	0.12%
	AN	C	0.05%	0.04%	0.04%
	ANSS	C	0.02%	0.25%	0.02%
	AOS	D	0.03%	0.09%	0.03%
	APA	D	0.04%	0.1%	0.04%
	APH	B	0.09%	0.71%	0.09%
	APO	A	0.04%	0.56%	0.04%
	APP	A	0.01%	0.15%	0.01%
	APTV	F	0.04%	0.17%	0.04%
	AR	C	0.03%	0.08%	0.03%
	ARE	C	0.03%	0.18%	0.03%
	ARES	C	0.01%	0.21%	0.01%
	ARMK	B	0.03%	0.08%	0.03%
	ARW	D	0.08%	0.06%	0.06%
	ASH	D	0.02%	0.04%	0.02%
	ATO	C	0.03%	0.16%	0.03%
	ATR	D	0.02%	0.09%	0.02%
	AVB	B	0.05%	0.27%	0.05%
	AVT	D	0.07%	0.04%	0.04%
	AVTR	F	0.02%	0.13%	0.02%
	AVY	D	0.04%	0.16%	0.04%
	AWI	D	0.01%	0.05%	0.01%
	AWK	C	0.04%	0.23%	0.04%
	AXS	B	0.01%	0.05%	0.01%
	AXTA	C	0.02%	0.07%	0.02%
	AYI	C	0.03%	0.07%	0.03%
	AZEK	D	0.01%	0.05%	0.01%
	AZTA	D	0.0%	0.03%	0.0%
	BAH	B	0.04%	0.18%	0.04%
	BALL	D	0.06%	0.17%	0.06%
	BAX	F	0.07%	0.15%	0.07%
	BBWI	F	0.03%	0.08%	0.03%
	BBY	C	0.15%	0.15%	0.15%
	BC	F	0.02%	0.04%	0.02%
	BEN	D	0.04%	0.06%	0.04%
	BERY	D	0.04%	0.06%	0.04%
	BFAM	C	0.01%	0.06%	0.01%
	BG	B	0.11%	0.14%	0.11%
	BIIB	C	0.11%	0.3%	0.11%
	BIO	F	0.01%	0.05%	0.01%
	BJ	B	0.02%	0.11%	0.02%
	BK	A	0.21%	0.41%	0.21%
	BKR	B	0.14%	0.31%	0.14%
	BLD	D	0.02%	0.11%	0.02%
	BLDR	F	0.03%	0.15%	0.03%
	BMRN	D	0.01%	0.14%	0.01%
	BOKF	C	0.01%	0.02%	0.01%
	BPOP	C	0.02%	0.05%	0.02%
	BR	B	0.03%	0.21%	0.03%
	BRKR	F	0.01%	0.06%	0.01%
	BRO	B	0.02%	0.19%	0.02%
	BRX	B	0.02%	0.06%	0.02%
	BSY	D	0.0%	0.09%	0.0%
	BURL	B	0.03%	0.14%	0.03%
	BWA	F	0.05%	0.07%	0.05%
	BWXT	B	0.02%	0.08%	0.02%
	BXP	B	0.04%	0.09%	0.04%
	BYD	F	0.01%	0.04%	0.01%
	CABO	F	0.01%	0.02%	0.01%
	CACC	B	0.01%	0.03%	0.01%
	CACC	B	0.01%	0.03%	0.01%
	CACI	B	0.03%	0.09%	0.03%
	CAG	D	0.06%	0.12%	0.06%
	CAH	D	0.06%	0.22%	0.06%
	CAR	F	0.02%	0.02%	0.02%
	CARR	B	0.1%	0.48%	0.1%
	CASY	B	0.05%	0.13%	0.05%
	CBRE	C	0.09%	0.24%	0.09%
	CBSH	C	0.01%	0.06%	0.01%
	CC	F	0.02%	0.03%	0.02%
	CCK	F	0.03%	0.07%	0.03%
	CCL	C	0.05%	0.17%	0.05%
	CDW	D	0.06%	0.27%	0.06%
	CE	F	0.06%	0.12%	0.06%
	CEG	C	0.1%	0.6%	0.1%
	CF	F	0.06%	0.13%	0.06%
	CFG	B	0.09%	0.15%	0.09%
	CFR	D	0.01%	0.05%	0.01%
	CG	D	0.03%	0.08%	0.03%
	CGNX	B	0.01%	0.07%	0.01%
	CHD	D	0.04%	0.23%	0.04%
	CHDN	A	0.01%	0.09%	0.01%
	CHE	D	0.02%	0.07%	0.02%
	CHH	C	0.0%	0.03%	0.0%
	CHK	C	0.02%	0.09%	0.02%
	CHRW	C	0.06%	0.09%	0.06%
	CIEN	F	0.02%	0.06%	0.02%
	CINF	B	0.06%	0.16%	0.06%
	CLF	D	0.03%	0.07%	0.03%
	CLH	B	0.02%	0.11%	0.02%
	CLVT	D	0.0%	0.02%	0.0%
	CLX	D	0.03%	0.15%	0.03%
	CMA	C	0.05%	0.05%	0.05%
	CMI	D	0.16%	0.35%	0.16%
	CMS	D	0.05%	0.16%	0.05%
	CNA	B	0.01%	0.01%	0.01%
	CNH	F	0.03%	0.09%	0.03%
	CNM	D	0.01%	0.08%	0.01%
	CNP	B	0.06%	0.18%	0.06%
	CNXC	C	0.01%	0.03%	0.01%
	COHR	A	0.01%	0.08%	0.01%
	COIN	D	0.03%	0.35%	0.03%
	COLB	C	0.01%	0.04%	0.01%
	COLD	C	0.01%	0.06%	0.01%
	COLM	D	0.01%	0.02%	0.01%
	COTY	F	0.01%	0.03%	0.01%
	CPAY	D	0.04%	0.17%	0.04%
	CPB	B	0.03%	0.08%	0.03%
	CPNG	D	0.01%	0.21%	0.01%
	CPRI	D	0.02%	0.03%	0.02%
	CPRT	C	0.02%	0.43%	0.02%
	CPT	B	0.02%	0.1%	0.02%
	CR	B	0.01%	0.06%	0.01%
	CRI	F	0.02%	0.02%	0.02%
	CRL	F	0.02%	0.1%	0.02%
	CROX	C	0.02%	0.08%	0.02%
	CRUS	A	0.02%	0.06%	0.02%
	CSGP	F	0.01%	0.27%	0.01%
	CSL	C	0.05%	0.18%	0.05%
	CTAS	B	0.07%	0.56%	0.07%
	CTLT	B	0.02%	0.09%	0.02%
	CTRA	D	0.02%	0.18%	0.02%
	CTSH	C	0.16%	0.31%	0.16%
	CTVA	D	0.08%	0.34%	0.08%
	CUBE	B	0.01%	0.09%	0.01%
	CUZ	C	0.01%	0.03%	0.01%
	CW	B	0.02%	0.09%	0.02%
	CWEN	D	0.01%	0.01%	0.01%
	CWEN	D	0.01%	0.02%	0.01%
	CZR	C	0.02%	0.07%	0.02%
	DAL	D	0.02%	0.28%	0.02%
	DAR	D	0.02%	0.05%	0.02%
	DASH	D	0.01%	0.31%	0.01%
	DAY	D	0.0%	0.07%	0.0%
	DBX	D	0.01%	0.05%	0.01%
	DCI	D	0.02%	0.08%	0.02%
	DD	B	0.17%	0.31%	0.17%
	DECK	C	0.03%	0.23%	0.03%
	DFS	A	0.2%	0.28%	0.2%
	DGX	C	0.06%	0.14%	0.06%
	DHI	D	0.14%	0.39%	0.14%
	DINO	D	0.06%	0.08%	0.06%
	DKS	C	0.05%	0.11%	0.05%
	DLB	D	0.01%	0.04%	0.01%
	DLR	A	0.07%	0.42%	0.07%
	DLTR	F	0.07%	0.2%	0.07%
	DNB	D	0.01%	0.02%	0.01%
	DOC	B	0.03%	0.12%	0.03%
	DOV	D	0.06%	0.23%	0.06%
	DOX	D	0.03%	0.08%	0.03%
	DPZ	C	0.04%	0.16%	0.04%
	DRI	D	0.04%	0.16%	0.04%
	DT	F	0.0%	0.1%	0.0%
	DTE	D	0.07%	0.21%	0.07%
	DTM	B	0.01%	0.06%	0.01%
	DVA	C	0.06%	0.07%	0.06%
	DVN	C	0.09%	0.27%	0.09%
	DXC	C	0.04%	0.03%	0.03%
	DXCM	F	0.01%	0.4%	0.01%
	EA	B	0.08%	0.34%	0.08%
	EBAY	B	0.16%	0.25%	0.16%
	ED	D	0.11%	0.28%	0.11%
	EEFT	D	0.01%	0.04%	0.01%
	EFX	B	0.03%	0.27%	0.03%
	EG	D	0.03%	0.15%	0.03%
	EGP	B	0.01%	0.07%	0.01%
	EHC	A	0.02%	0.08%	0.02%
	EIX	D	0.09%	0.25%	0.09%
	ELAN	F	0.02%	0.06%	0.02%
	ELS	C	0.01%	0.11%	0.01%
	EME	D	0.05%	0.16%	0.05%
	EMN	D	0.08%	0.1%	0.08%
	ENOV	F	0.01%	0.02%	0.01%
	ENPH	F	0.0%	0.13%	0.0%
	ENTG	B	0.02%	0.18%	0.02%
	EPAM	D	0.01%	0.09%	0.01%
	EPR	C	0.01%	0.03%	0.01%
	EQH	B	0.05%	0.11%	0.05%
	EQR	B	0.05%	0.23%	0.05%
	EQT	D	0.02%	0.12%	0.02%
	ES	D	0.07%	0.18%	0.07%
	ESAB	D	0.01%	0.05%	0.01%
	ESI	B	0.02%	0.05%	0.02%
	ESS	B	0.03%	0.16%	0.03%
	ETR	D	0.09%	0.21%	0.09%
	ETSY	F	0.01%	0.06%	0.01%
	EVR	A	0.03%	0.06%	0.03%
	EVRG	D	0.06%	0.11%	0.06%
	EWBC	C	0.02%	0.09%	0.02%
	EXAS	F	0.0%	0.07%	0.0%
	EXEL	C	0.01%	0.06%	0.01%
	EXP	D	0.02%	0.07%	0.02%
	EXPD	B	0.02%	0.17%	0.02%
	EXPE	C	0.03%	0.15%	0.03%
	EXR	B	0.03%	0.3%	0.03%
	FAF	D	0.03%	0.05%	0.03%
	FANG	A	0.05%	0.32%	0.05%
	FAST	F	0.06%	0.33%	0.06%
	FCN	C	0.02%	0.07%	0.02%
	FCNCA	C	0.02%	0.17%	0.02%
	FDS	D	0.01%	0.14%	0.01%
	FE	C	0.09%	0.19%	0.09%
	FFIV	D	0.02%	0.09%	0.02%
	FHB	C	0.01%	0.02%	0.01%
	FHN	C	0.03%	0.08%	0.03%
	FICO	A	0.02%	0.33%	0.02%
	FIS	B	0.11%	0.4%	0.11%
	FITB	C	0.11%	0.22%	0.11%
	FIVE	F	0.01%	0.06%	0.01%
	FLO	D	0.02%	0.04%	0.02%
	FLS	D	0.02%	0.06%	0.02%
	FMC	F	0.02%	0.07%	0.02%
	FNB	C	0.01%	0.04%	0.01%
	FND	F	0.01%	0.1%	0.01%
	FNF	D	0.05%	0.1%	0.05%
	FOXA	A	0.07%	0.08%	0.07%
	FR	C	0.01%	0.06%	0.01%
	FRT	C	0.02%	0.07%	0.02%
	FSLR	C	0.03%	0.24%	0.03%
	FTI	B	0.02%	0.1%	0.02%
	FTV	D	0.03%	0.24%	0.03%
	FYBR	B	0.03%	0.06%	0.03%
	G	D	0.02%	0.05%	0.02%
	GDDY	A	0.02%	0.18%	0.02%
	GFS	C	0.0%	0.04%	0.0%
	GGG	D	0.02%	0.12%	0.02%
	GL	C	0.02%	0.06%	0.02%
	GLOB	C	0.0%	0.07%	0.0%
	GLPI	C	0.02%	0.1%	0.02%
	GLW	B	0.12%	0.27%	0.12%
	GME	C	0.02%	0.06%	0.02%
	GMED	A	0.01%	0.07%	0.01%
	GNRC	C	0.02%	0.07%	0.02%
	GNTX	C	0.03%	0.07%	0.03%
	GO	F	0.01%	0.02%	0.01%
	GPC	F	0.05%	0.17%	0.05%
	GPK	D	0.03%	0.07%	0.03%
	GPN	D	0.06%	0.22%	0.06%
	GPS	C	0.05%	0.04%	0.04%
	GRMN	C	0.04%	0.23%	0.04%
	GTES	D	0.01%	0.03%	0.01%
	GWRE	A	0.0%	0.1%	0.0%
	GWW	C	0.06%	0.36%	0.06%
	GXO	D	0.02%	0.05%	0.02%
	H	C	0.01%	0.06%	0.01%
	HAL	F	0.07%	0.27%	0.07%
	HAS	D	0.03%	0.07%	0.03%
	HAYW	F	0.0%	0.01%	0.0%
	HBAN	C	0.06%	0.17%	0.06%
	HE	F	0.01%	0.01%	0.01%
	HEI	A	0.02%	0.09%	0.02%
	HEI	A	0.02%	0.13%	0.02%
	HES	C	0.05%	0.37%	0.05%
	HIG	C	0.13%	0.28%	0.13%
	HII	D	0.04%	0.09%	0.04%
	HIW	B	0.01%	0.02%	0.01%
	HLI	A	0.01%	0.06%	0.01%
	HLT	A	0.06%	0.49%	0.06%
	HOG	F	0.02%	0.04%	0.02%
	HOLX	C	0.04%	0.16%	0.04%
	HPE	C	0.21%	0.25%	0.21%
	HPQ	C	0.2%	0.27%	0.2%
	HRB	A	0.02%	0.07%	0.02%
	HRL	F	0.03%	0.08%	0.03%
	HSIC	F	0.04%	0.08%	0.04%
	HST	D	0.04%	0.11%	0.04%
	HTZ	F	0.01%	0.0%	0.0%
	HUBB	D	0.03%	0.18%	0.03%
	HUN	F	0.03%	0.03%	0.03%
	HWM	C	0.05%	0.27%	0.05%
	HXL	D	0.01%	0.05%	0.01%
	IAC	F	0.01%	0.03%	0.01%
	IART	C	0.01%	0.02%	0.01%
	IBKR	B	0.01%	0.12%	0.01%
	ICLR	B	0.02%	0.23%	0.02%
	ICUI	B	0.01%	0.02%	0.01%
	IDA	D	0.01%	0.04%	0.01%
	IDXX	D	0.02%	0.37%	0.02%
	IEX	F	0.02%	0.14%	0.02%
	IFF	B	0.05%	0.22%	0.05%
	ILMN	F	0.02%	0.15%	0.02%
	INCY	C	0.01%	0.1%	0.01%
	INGR	D	0.04%	0.07%	0.04%
	INVH	A	0.03%	0.2%	0.03%
	IP	C	0.14%	0.14%	0.14%
	IPG	F	0.04%	0.1%	0.04%
	IPGP	D	0.01%	0.02%	0.01%
	IQV	F	0.07%	0.35%	0.07%
	IR	D	0.03%	0.33%	0.03%
	IRDM	F	0.0%	0.03%	0.0%
	IRM	A	0.05%	0.21%	0.05%
	IT	C	0.03%	0.31%	0.03%
	ITT	D	0.02%	0.1%	0.02%
	IVZ	D	0.04%	0.05%	0.04%
	J	D	0.05%	0.16%	0.05%
	JAZZ	F	0.02%	0.06%	0.02%
	JBHT	F	0.04%	0.12%	0.04%
	JBL	F	0.05%	0.12%	0.05%
	JEF	A	0.04%	0.08%	0.04%
	JHG	A	0.03%	0.04%	0.03%
	JKHY	C	0.02%	0.11%	0.02%
	JLL	B	0.07%	0.09%	0.07%
	JNPR	B	0.05%	0.1%	0.05%
	JWN	B	0.02%	0.02%	0.02%
	K	D	0.05%	0.14%	0.05%
	KBR	C	0.02%	0.08%	0.02%
	KD	B	0.05%	0.05%	0.05%
	KEX	B	0.01%	0.06%	0.01%
	KEY	C	0.08%	0.12%	0.08%
	KEYS	F	0.03%	0.21%	0.03%
	KIM	B	0.02%	0.11%	0.02%
	KKR	C	0.1%	0.64%	0.1%
	KLG	D	0.01%	0.01%	0.01%
	KMPR	C	0.02%	0.03%	0.02%
	KMX	B	0.06%	0.11%	0.06%
	KNSL	F	0.0%	0.08%	0.0%
	KNX	C	0.04%	0.07%	0.04%
	KR	C	0.25%	0.29%	0.25%
	KRC	D	0.01%	0.03%	0.01%
	KSS	F	0.08%	0.02%	0.02%
	L	D	0.05%	0.13%	0.05%
	LAD	D	0.05%	0.06%	0.05%
	LAMR	A	0.02%	0.09%	0.02%
	LBRDK	C	0.0%	0.06%	0.0%
	LDOS	B	0.07%	0.18%	0.07%
	LEA	F	0.06%	0.06%	0.06%
	LECO	F	0.02%	0.1%	0.02%
	LEG	F	0.01%	0.01%	0.01%
	LEN	D	0.15%	0.33%	0.15%
	LEN	D	0.15%	0.02%	0.02%
	LFUS	C	0.01%	0.06%	0.01%
	LII	A	0.03%	0.16%	0.03%
	LITE	B	0.01%	0.03%	0.01%
	LKQ	F	0.05%	0.1%	0.05%
	LNC	B	0.06%	0.04%	0.04%
	LNG	B	0.05%	0.37%	0.05%
	LNT	C	0.04%	0.12%	0.04%
	LOPE	C	0.02%	0.04%	0.02%
	LPLA	B	0.03%	0.19%	0.03%
	LPX	D	0.03%	0.05%	0.03%
	LSCC	D	0.0%	0.07%	0.0%
	LSTR	B	0.02%	0.06%	0.02%
	LUV	B	0.02%	0.15%	0.02%
	LW	F	0.02%	0.11%	0.02%
	LYB	D	0.15%	0.22%	0.15%
	LYFT	F	0.0%	0.04%	0.0%
	LYV	C	0.0%	0.13%	0.0%
	M	D	0.07%	0.05%	0.05%
	MAA	C	0.03%	0.15%	0.03%
	MAN	D	0.05%	0.03%	0.03%
	MANH	B	0.01%	0.14%	0.01%
	MAS	D	0.05%	0.14%	0.05%
	MASI	F	0.01%	0.05%	0.01%
	MAT	F	0.01%	0.05%	0.01%
	MCHP	C	0.06%	0.43%	0.06%
	MDU	C	0.02%	0.05%	0.02%
	MEDP	C	0.01%	0.09%	0.01%
	MGM	B	0.06%	0.11%	0.06%
	MHK	D	0.05%	0.05%	0.05%
	MIDD	F	0.01%	0.06%	0.01%
	MKC	D	0.03%	0.16%	0.03%
	MKL	D	0.04%	0.19%	0.04%
	MKSI	B	0.02%	0.08%	0.02%
	MKTX	F	0.01%	0.07%	0.01%
	MLM	D	0.04%	0.3%	0.04%
	MOH	F	0.04%	0.16%	0.04%
	MORN	B	0.01%	0.07%	0.01%
	MOS	F	0.06%	0.09%	0.06%
	MP	D	0.0%	0.01%	0.0%
	MPW	F	0.02%	0.03%	0.02%
	MPWR	A	0.01%	0.34%	0.01%
	MRCY	D	0.0%	0.01%	0.0%
	MRO	B	0.08%	0.15%	0.08%
	MRVL	C	0.03%	0.53%	0.03%
	MSA	B	0.01%	0.06%	0.01%
	MSCI	C	0.02%	0.34%	0.02%
	MSM	F	0.01%	0.03%	0.01%
	MTB	B	0.08%	0.22%	0.08%
	MTCH	F	0.01%	0.08%	0.01%
	MTD	C	0.04%	0.27%	0.04%
	MTG	B	0.02%	0.05%	0.02%
	MTN	F	0.01%	0.06%	0.01%
	MTZ	C	0.03%	0.06%	0.03%
	MUSA	C	0.04%	0.08%	0.04%
	NBIX	C	0.01%	0.12%	0.01%
	NDAQ	C	0.03%	0.2%	0.03%
	NDSN	D	0.02%	0.12%	0.02%
	NEU	D	0.01%	0.03%	0.01%
	NFG	C	0.02%	0.04%	0.02%
	NI	B	0.04%	0.11%	0.04%
	NNN	B	0.01%	0.07%	0.01%
	NOV	C	0.02%	0.07%	0.02%
	NRG	C	0.1%	0.16%	0.1%
	NSA	B	0.0%	0.03%	0.0%
	NTAP	A	0.09%	0.24%	0.09%
	NTRS	B	0.06%	0.15%	0.06%
	NUE	D	0.19%	0.34%	0.19%
	NVR	D	0.06%	0.2%	0.06%
	NVST	F	0.01%	0.02%	0.01%
	NVT	C	0.02%	0.11%	0.02%
	NWL	F	0.02%	0.02%	0.02%
	NWSA	A	0.04%	0.1%	0.04%
	NXST	C	0.03%	0.05%	0.03%
	NYCB	D	0.01%	0.02%	0.01%
	NYT	A	0.01%	0.07%	0.01%
	O	D	0.03%	0.4%	0.03%
	OC	D	0.06%	0.14%	0.06%
	ODFL	D	0.04%	0.31%	0.04%
	OGE	C	0.03%	0.06%	0.03%
	OGN	C	0.06%	0.05%	0.05%
	OHI	A	0.02%	0.08%	0.02%
	OKE	A	0.11%	0.43%	0.11%
	OKTA	C	0.0%	0.13%	0.0%
	OLED	A	0.01%	0.09%	0.01%
	OLLI	B	0.01%	0.06%	0.01%
	OLN	F	0.03%	0.05%	0.03%
	OMC	D	0.07%	0.16%	0.07%
	OMF	C	0.05%	0.05%	0.05%
	ON	D	0.04%	0.27%	0.04%
	ORI	C	0.04%	0.07%	0.04%
	OSK	D	0.04%	0.06%	0.04%
	OTIS	B	0.05%	0.36%	0.05%
	OVV	C	0.05%	0.11%	0.05%
	OZK	D	0.01%	0.04%	0.01%
	PAG	D	0.02%	0.03%	0.02%
	PARA	D	0.09%	0.05%	0.05%
	PAYC	F	0.0%	0.07%	0.0%
	PAYX	D	0.05%	0.34%	0.05%
	PB	C	0.01%	0.05%	0.01%
	PCAR	D	0.13%	0.48%	0.13%
	PCG	D	0.02%	0.32%	0.02%
	PEG	A	0.1%	0.33%	0.1%
	PEGA	D	0.0%	0.02%	0.0%
	PEN	F	0.0%	0.06%	0.0%
	PENN	C	0.02%	0.03%	0.02%
	PFG	D	0.08%	0.17%	0.08%
	PFGC	D	0.05%	0.09%	0.05%
	PH	C	0.1%	0.58%	0.1%
	PHIN	C	0.01%	0.02%	0.01%
	PHM	D	0.1%	0.21%	0.1%
	PII	F	0.02%	0.04%	0.02%
	PINC	F	0.01%	0.02%	0.01%
	PINS	B	0.01%	0.23%	0.01%
	PK	D	0.02%	0.03%	0.02%
	PKG	C	0.06%	0.15%	0.06%
	PLNT	B	0.01%	0.06%	0.01%
	PLTR	B	0.01%	0.44%	0.01%
	PNFP	D	0.01%	0.05%	0.01%
	PNR	D	0.03%	0.11%	0.03%
	PNW	D	0.04%	0.08%	0.04%
	PODD	C	0.0%	0.13%	0.0%
	POOL	F	0.02%	0.11%	0.02%
	POST	C	0.02%	0.05%	0.02%
	PPC	A	0.01%	0.01%	0.01%
	PPG	D	0.08%	0.27%	0.08%
	PPL	D	0.1%	0.19%	0.1%
	PRGO	D	0.02%	0.03%	0.02%
	PRI	C	0.02%	0.08%	0.02%
	PRU	A	0.23%	0.39%	0.23%
	PSTG	C	0.01%	0.17%	0.01%
	PSX	D	0.38%	0.56%	0.38%
	PTC	B	0.01%	0.19%	0.01%
	PTON	F	0.0%	0.01%	0.0%
	PVH	F	0.04%	0.06%	0.04%
	PWR	D	0.06%	0.35%	0.06%
	QRVO	B	0.05%	0.1%	0.05%
	R	B	0.06%	0.05%	0.05%
	RBC	C	0.01%	0.07%	0.01%
	RCL	B	0.03%	0.34%	0.03%
	REG	C	0.02%	0.1%	0.02%
	REXR	C	0.01%	0.08%	0.01%
	REYN	D	0.0%	0.01%	0.0%
	RF	B	0.06%	0.16%	0.06%
	RGA	B	0.04%	0.12%	0.04%
	RGEN	F	0.0%	0.06%	0.0%
	RGLD	C	0.01%	0.07%	0.01%
	RH	D	0.01%	0.03%	0.01%
	RHI	F	0.03%	0.06%	0.03%
	RJF	D	0.04%	0.21%	0.04%
	RKT	C	0.0%	0.01%	0.0%
	RL	C	0.03%	0.06%	0.03%
	RLI	D	0.01%	0.05%	0.01%
	RMD	D	0.03%	0.25%	0.03%
	RNG	D	0.01%	0.02%	0.01%
	RNR	D	0.01%	0.11%	0.01%
	ROK	D	0.05%	0.28%	0.05%
	ROKU	D	0.0%	0.07%	0.0%
	ROL	A	0.01%	0.11%	0.01%
	ROST	B	0.08%	0.44%	0.08%
	RPM	D	0.03%	0.12%	0.03%
	RPRX	F	0.01%	0.09%	0.01%
	RRC	C	0.01%	0.07%	0.01%
	RRX	F	0.02%	0.08%	0.02%
	RS	D	0.08%	0.15%	0.08%
	RSG	A	0.06%	0.37%	0.06%
	RUN	F	0.0%	0.03%	0.0%
	RYN	F	0.01%	0.04%	0.01%
	SAIA	B	0.01%	0.11%	0.01%
	SAIC	F	0.02%	0.06%	0.02%
	SAM	C	0.01%	0.03%	0.01%
	SBAC	F	0.02%	0.19%	0.02%
	SCI	C	0.02%	0.09%	0.02%
	SEB	D	0.0%	0.01%	0.0%
	SEE	D	0.03%	0.04%	0.03%
	SEIC	C	0.02%	0.06%	0.02%
	SF	B	0.02%	0.07%	0.02%
	SIRI	C	0.01%	0.02%	0.01%
	SITE	F	0.01%	0.05%	0.01%
	SJM	F	0.05%	0.1%	0.05%
	SKX	C	0.03%	0.08%	0.03%
	SLGN	D	0.01%	0.03%	0.01%
	SLM	C	0.03%	0.04%	0.03%
	SMG	D	0.01%	0.03%	0.01%
	SNA	F	0.04%	0.12%	0.04%
	SNDR	B	0.01%	0.01%	0.01%
	SNV	A	0.02%	0.05%	0.02%
	SNX	D	0.03%	0.07%	0.03%
	SON	F	0.02%	0.05%	0.02%
	SPB	D	0.02%	0.02%	0.02%
	SPG	B	0.09%	0.44%	0.09%
	SPOT	B	0.02%	0.4%	0.02%
	SPR	B	0.02%	0.03%	0.02%
	SQ	D	0.02%	0.32%	0.02%
	SRCL	A	0.01%	0.05%	0.01%
	SSNC	B	0.03%	0.12%	0.03%
	ST	D	0.02%	0.05%	0.02%
	STAG	B	0.01%	0.06%	0.01%
	STE	D	0.03%	0.19%	0.03%
	STLD	D	0.1%	0.17%	0.1%
	STT	C	0.08%	0.2%	0.08%
	STWD	C	0.02%	0.05%	0.02%
	SUI	C	0.02%	0.13%	0.02%
	SWK	F	0.06%	0.11%	0.06%
	SWKS	C	0.05%	0.15%	0.05%
	SWN	C	0.03%	0.07%	0.03%
	SYF	B	0.25%	0.16%	0.16%
	TAP	F	0.04%	0.08%	0.04%
	TDC	C	0.01%	0.03%	0.01%
	TDG	D	0.07%	0.62%	0.07%
	TDOC	F	0.0%	0.02%	0.0%
	TDY	D	0.02%	0.16%	0.02%
	TECH	D	0.01%	0.1%	0.01%
	TER	A	0.05%	0.21%	0.05%
	TFX	D	0.02%	0.09%	0.02%
	THC	B	0.07%	0.13%	0.07%
	THG	C	0.02%	0.04%	0.02%
	THO	D	0.03%	0.04%	0.03%
	TKR	D	0.02%	0.04%	0.02%
	TNL	D	0.02%	0.03%	0.02%
	TOL	D	0.04%	0.11%	0.04%
	TOST	C	0.0%	0.09%	0.0%
	TPG	D	0.01%	0.03%	0.01%
	TPL	B	0.01%	0.12%	0.01%
	TPR	C	0.04%	0.09%	0.04%
	TPX	D	0.02%	0.07%	0.02%
	TREX	F	0.01%	0.07%	0.01%
	TRGP	A	0.05%	0.26%	0.05%
	TRIP	F	0.01%	0.02%	0.01%
	TRMB	D	0.02%	0.12%	0.02%
	TROW	C	0.12%	0.23%	0.12%
	TRU	C	0.02%	0.13%	0.02%
	TSCO	D	0.06%	0.26%	0.06%
	TSN	D	0.18%	0.14%	0.14%
	TT	B	0.08%	0.69%	0.08%
	TTC	C	0.02%	0.09%	0.02%
	TTD	A	0.0%	0.39%	0.0%
	TTEK	C	0.02%	0.1%	0.02%
	TTWO	C	0.02%	0.24%	0.02%
	TW	C	0.01%	0.11%	0.01%
	TWLO	D	0.01%	0.09%	0.01%
	TXRH	C	0.02%	0.11%	0.02%
	TXT	D	0.06%	0.15%	0.06%
	TYL	B	0.01%	0.19%	0.01%
	UAA	F	0.01%	0.01%	0.01%
	UAL	D	0.02%	0.14%	0.02%
	UDR	B	0.02%	0.12%	0.02%
	UGI	D	0.04%	0.04%	0.04%
	UHAL	C	0.02%	0.05%	0.02%
	UHAL	C	0.02%	0.0%	0.0%
	UHAL	C	0.0%	0.05%	0.0%
	UHAL	C	0.0%	0.0%	0.0%
	UHS	B	0.08%	0.1%	0.08%
	ULTA	D	0.03%	0.17%	0.03%
	UNM	D	0.04%	0.07%	0.04%
	URI	C	0.1%	0.38%	0.1%
	USFD	B	0.06%	0.11%	0.06%
	UTHR	B	0.02%	0.13%	0.02%
	VAC	F	0.01%	0.03%	0.01%
	VEEV	F	0.01%	0.24%	0.01%
	VFC	C	0.05%	0.04%	0.04%
	VICI	D	0.02%	0.27%	0.02%
	VIRT	C	0.01%	0.02%	0.01%
	VMC	D	0.04%	0.3%	0.04%
	VMI	C	0.02%	0.05%	0.02%
	VNO	B	0.03%	0.04%	0.03%
	VNT	D	0.01%	0.05%	0.01%
	VOYA	D	0.03%	0.06%	0.03%
	VRSK	A	0.04%	0.35%	0.04%
	VRSN	C	0.01%	0.14%	0.01%
	VRT	C	0.01%	0.27%	0.01%
	VSAT	F	0.01%	0.01%	0.01%
	VSCO	F	0.01%	0.01%	0.01%
	VST	C	0.12%	0.28%	0.12%
	VSTS	F	0.01%	0.01%	0.01%
	VTR	A	0.07%	0.18%	0.07%
	VTRS	F	0.08%	0.11%	0.08%
	VVV	B	0.01%	0.05%	0.01%
	W	D	0.0%	0.04%	0.0%
	WAB	D	0.05%	0.26%	0.05%
	WAL	B	0.01%	0.06%	0.01%
	WAT	F	0.03%	0.15%	0.03%
	WBA	F	0.23%	0.08%	0.08%
	WBD	F	0.05%	0.15%	0.05%
	WBS	D	0.01%	0.06%	0.01%
	WCC	D	0.03%	0.06%	0.03%
	WDC	B	0.15%	0.23%	0.15%
	WEC	D	0.07%	0.22%	0.07%
	WELL	A	0.08%	0.52%	0.08%
	WEN	F	0.01%	0.03%	0.01%
	WEX	D	0.01%	0.07%	0.01%
	WH	C	0.01%	0.05%	0.01%
	WHR	C	0.07%	0.05%	0.05%
	WING	B	0.0%	0.11%	0.0%
	WLK	D	0.02%	0.04%	0.02%
	WMB	A	0.13%	0.47%	0.13%
	WMS	D	0.01%	0.1%	0.01%
	WOLF	F	0.0%	0.03%	0.0%
	WOOF	C	0.0%	0.0%	0.0%
	WPC	D	0.02%	0.11%	0.02%
	WRB	C	0.03%	0.14%	0.03%
	WRK	D	0.12%	0.12%	0.12%
	WSC	F	0.01%	0.06%	0.01%
	WSM	D	0.06%	0.17%	0.06%
	WSO	B	0.03%	0.14%	0.03%
	WST	F	0.02%	0.22%	0.02%
	WTFC	C	0.01%	0.05%	0.01%
	WTM	C	0.01%	0.04%	0.01%
	WTRG	D	0.02%	0.09%	0.02%
	WTW	B	0.06%	0.25%	0.06%
	WU	D	0.04%	0.03%	0.03%
	WWD	C	0.02%	0.1%	0.02%
	WY	F	0.08%	0.19%	0.08%
	WYNN	F	0.01%	0.08%	0.01%
	X	D	0.08%	0.07%	0.07%
	XEL	D	0.09%	0.27%	0.09%
	XP	F	0.0%	0.05%	0.0%
	XPO	D	0.02%	0.11%	0.02%
	XRAY	F	0.02%	0.05%	0.02%
	XYL	D	0.04%	0.29%	0.04%
	YETI	F	0.01%	0.03%	0.01%
	YUM	D	0.08%	0.34%	0.08%
	Z	C	0.01%	0.07%	0.01%
	ZBH	F	0.04%	0.21%	0.04%
	ZBRA	C	0.03%	0.14%	0.03%
	ZI	F	0.0%	0.03%	0.0%
	ZION	B	0.04%	0.06%	0.04%
	ZM	D	0.01%	0.14%	0.01%

FNDB Overweight 983 Positions Relative to IWR

	Symbol	Grade	Weight
	AAPL	A	4.15%
	MSFT	A	2.58%
	BRK.A	D	2.0%
	XOM	C	1.89%
	JPM	A	1.79%
	META	B	1.73%
	AMZN	A	1.41%
	GOOGL	A	1.39%
	WMT	A	1.24%
	GOOG	A	1.21%
	BAC	A	1.18%
	VZ	B	1.18%
	CVX	D	1.15%
	T	B	1.14%
	WFC	C	1.13%
	C	A	1.07%
	UNH	D	0.99%
	INTC	D	0.9%
	JNJ	F	0.86%
	PG	C	0.78%
	CMCSA	D	0.7%
	CVS	D	0.69%
	HD	C	0.68%
	CSCO	D	0.67%
	PFE	D	0.67%
	COST	A	0.66%
	GM	B	0.66%
	AVGO	B	0.64%
	MU	C	0.56%
	MRK	C	0.56%
	QCOM	B	0.54%
	GS	A	0.52%
	ABBV	C	0.51%
	CI	D	0.49%
	IBM	B	0.48%
	ELV	C	0.47%
	AMGN	B	0.44%
	COP	D	0.44%
	MPC	D	0.43%
	VLO	C	0.42%
	DIS	F	0.41%
	PEP	D	0.41%
	PM	B	0.4%
	NVDA	B	0.39%
	ORCL	A	0.38%
	COF	C	0.37%
	KO	B	0.37%
	TGT	D	0.36%
	CAT	C	0.36%
	LOW	D	0.35%
	MS	B	0.34%
	F	B	0.34%
	UNP	D	0.34%
	HON	B	0.34%
	MO	A	0.33%
	TXN	B	0.33%
	LMT	B	0.32%
	LIN	C	0.32%
	AXP	C	0.32%
	V	D	0.32%
	FDX	B	0.32%
	AMAT	B	0.31%
	MMM	B	0.3%
	ABT	D	0.3%
	RTX	D	0.3%
	BMY	F	0.3%
	ACN	C	0.29%
	MCD	F	0.29%
	AIG	C	0.28%
	GILD	C	0.28%
	DUK	D	0.28%
	CHTR	C	0.27%
	TMO	D	0.26%
	UPS	F	0.26%
	USB	C	0.26%
	LLY	B	0.25%
	MA	D	0.25%
	CB	C	0.25%
	TRV	D	0.25%
	PNC	C	0.24%
	SO	B	0.24%
	NEE	D	0.24%
	MET	D	0.23%
	MDT	D	0.23%
	GD	D	0.22%
	BLK	B	0.22%
	CNC	D	0.22%
	ADM	C	0.22%
	HUM	C	0.22%
	PGR	B	0.21%
	NKE	F	0.21%
	SBUX	F	0.21%
	HCA	B	0.21%
	LRCX	A	0.21%
	TJX	B	0.21%
	ETN	C	0.21%
	TMUS	B	0.2%
	MDLZ	D	0.2%
	DOW	D	0.2%
	BKNG	B	0.2%
	CSX	D	0.2%
	DE	F	0.2%
	EOG	C	0.2%
	ADBE	B	0.19%
	TFC	B	0.19%
	NSC	D	0.17%
	NOC	D	0.17%
	KMI	A	0.17%
	D	C	0.16%
	GE	C	0.16%
	NEM	B	0.15%
	BA	C	0.15%
	LHX	A	0.15%
	EMR	C	0.15%
	PYPL	D	0.15%
	AEP	D	0.15%
	WM	B	0.15%
	EXC	D	0.15%
	DHR	D	0.15%
	TSLA	B	0.15%
	FCX	C	0.15%
	NFLX	A	0.14%
	REGN	B	0.14%
	CL	B	0.14%
	SPGI	B	0.13%
	OXY	D	0.13%
	JCI	D	0.13%
	ADI	B	0.13%
	MMC	A	0.13%
	ITW	D	0.13%
	ADP	D	0.12%
	DG	F	0.12%
	SLB	C	0.12%
	BDX	F	0.11%
	TEL	B	0.11%
	KMB	B	0.11%
	CRM	C	0.11%
	MCK	B	0.11%
	SRE	B	0.11%
	GIS	D	0.11%
	AMT	B	0.11%
	SYK	C	0.11%
	SCHW	C	0.11%
	STX	B	0.1%
	AON	C	0.1%
	INTU	B	0.1%
	KLAC	B	0.1%
	APD	D	0.1%
	ICE	A	0.1%
	CCI	D	0.09%
	ECL	B	0.09%
	NXPI	B	0.09%
	LUMN	F	0.09%
	BX	C	0.09%
	ORLY	C	0.09%
	SYY	D	0.09%
	KHC	D	0.09%
	AMD	B	0.09%
	STZ	C	0.08%
	ISRG	B	0.08%
	MAR	C	0.08%
	BSX	B	0.08%
	MCO	A	0.07%
	MRNA	D	0.07%
	PLD	C	0.07%
	SHW	D	0.07%
	EQIX	D	0.07%
	CME	D	0.07%
	ZTS	C	0.07%
	KDP	D	0.07%
	VRTX	B	0.07%
	AZO	C	0.06%
	GEHC	D	0.06%
	EL	F	0.05%
	EW	B	0.05%
	ZIM	B	0.05%
	PSA	B	0.05%
	ROP	B	0.05%
	FLEX	C	0.05%
	MSI	B	0.05%
	UBER	B	0.04%
	TDS	B	0.04%
	SFM	B	0.04%
	GPI	D	0.04%
	HSY	F	0.04%
	GEV	C	0.04%
	PBF	D	0.04%
	MNST	F	0.04%
	GT	F	0.04%
	ANF	B	0.04%
	CMG	C	0.04%
	TPH	D	0.03%
	KBH	C	0.03%
	AER	B	0.03%
	SMCI	C	0.03%
	ALV	D	0.03%
	ADSK	B	0.03%
	GNW	D	0.03%
	SLG	B	0.03%
	CMC	D	0.03%
	CCEP	B	0.03%
	SOLV	F	0.03%
	PANW	B	0.03%
	MTH	D	0.03%
	CRBG	C	0.03%
	BCC	F	0.03%
	CNO	B	0.03%
	TMHC	D	0.03%
	SANM	B	0.03%
	UFPI	D	0.03%
	SATS	B	0.03%
	LVS	F	0.03%
	JXN	B	0.03%
	BAP	C	0.03%
	ANET	A	0.03%
	CDNS	B	0.03%
	FL	D	0.03%
	SNPS	B	0.03%
	DBRG	D	0.02%
	MHO	D	0.02%
	TTMI	A	0.02%
	SIG	F	0.02%
	CBT	D	0.02%
	GATX	B	0.02%
	VSH	D	0.02%
	DK	D	0.02%
	LNW	B	0.02%
	AIT	B	0.02%
	BKH	C	0.02%
	RXO	B	0.02%
	HP	D	0.02%
	WERN	D	0.02%
	BHE	B	0.02%
	ENS	C	0.02%
	URBN	C	0.02%
	ADNT	F	0.02%
	BKU	B	0.02%
	SEM	A	0.02%
	POR	D	0.02%
	RUSHA	F	0.02%
	NOW	B	0.02%
	RDN	B	0.02%
	MAC	D	0.02%
	TGNA	D	0.02%
	VLTO	D	0.02%
	HUBG	B	0.02%
	SCCO	C	0.02%
	BECN	D	0.02%
	WIRE	A	0.02%
	ASO	F	0.02%
	SLVM	C	0.02%
	ASGN	D	0.02%
	MMS	B	0.02%
	REZI	D	0.02%
	LILAK	B	0.02%
	DAN	F	0.02%
	GEO	C	0.02%
	AEO	F	0.02%
	AMKR	B	0.02%
	NAVI	D	0.02%
	CNX	C	0.02%
	DY	B	0.02%
	ODP	D	0.02%
	TPC	B	0.02%
	LULU	F	0.02%
	SM	D	0.02%
	SWX	D	0.02%
	FTNT	D	0.02%
	BTU	C	0.02%
	HCC	C	0.02%
	ABM	B	0.02%
	KVUE	F	0.02%
	NSIT	B	0.02%
	ABG	D	0.02%
	ETRN	D	0.02%
	CHKP	A	0.02%
	MUR	D	0.02%
	MLI	C	0.02%
	HBI	D	0.02%
	XRX	F	0.02%
	FLR	B	0.02%
	QRTEA	F	0.02%
	AKR	A	0.01%
	BGS	F	0.01%
	UCBI	D	0.01%
	TOWN	C	0.01%
	BIG	F	0.01%
	CMPR	B	0.01%
	CAKE	C	0.01%
	FWRD	D	0.01%
	ENV	C	0.01%
	MGEE	D	0.01%
	PLAB	D	0.01%
	MTRN	D	0.01%
	LADR	A	0.01%
	CWT	D	0.01%
	MATV	D	0.01%
	CBU	B	0.01%
	SASR	B	0.01%
	OEC	F	0.01%
	KW	C	0.01%
	TALO	D	0.01%
	MMSI	A	0.01%
	NTCT	D	0.01%
	OXM	D	0.01%
	OII	B	0.01%
	NWN	F	0.01%
	MELI	D	0.01%
	MGRC	F	0.01%
	WSFS	B	0.01%
	PFS	D	0.01%
	CVI	F	0.01%
	HZO	C	0.01%
	VGR	B	0.01%
	PEB	F	0.01%
	HL	D	0.01%
	RYI	F	0.01%
	SAFT	D	0.01%
	PRDO	C	0.01%
	MRC	C	0.01%
	CODI	C	0.01%
	KN	D	0.01%
	FBP	A	0.01%
	AY	B	0.01%
	CDE	B	0.01%
	GNL	D	0.01%
	CLW	D	0.01%
	NUS	F	0.01%
	CENTA	F	0.01%
	EMBC	D	0.01%
	HCSG	D	0.01%
	BSIG	C	0.01%
	KLIC	B	0.01%
	CNXN	D	0.01%
	ROG	C	0.01%
	PPBI	D	0.01%
	LXP	B	0.01%
	BCPC	A	0.01%
	BKE	D	0.01%
	ATI	C	0.01%
	SCHL	F	0.01%
	EIG	B	0.01%
	HTLF	B	0.01%
	WSBC	C	0.01%
	GCI	A	0.01%
	WNC	D	0.01%
	MGY	B	0.01%
	RRR	B	0.01%
	ESGR	A	0.01%
	AX	C	0.01%
	NSP	F	0.01%
	SFL	B	0.01%
	JJSF	B	0.01%
	ROCK	D	0.01%
	GOLF	C	0.01%
	STRL	D	0.01%
	OSIS	D	0.01%
	REVG	C	0.01%
	RHP	D	0.01%
	THRM	F	0.01%
	BLMN	F	0.01%
	PMT	C	0.01%
	CBZ	C	0.01%
	CVBF	C	0.01%
	ALEX	B	0.01%
	HEES	F	0.01%
	ORA	C	0.01%
	HLX	A	0.01%
	KFRC	D	0.01%
	BV	C	0.01%
	POWI	D	0.01%
	MODG	D	0.01%
	NHI	A	0.01%
	ESRT	C	0.01%
	SYNA	D	0.01%
	UE	A	0.01%
	LGF.A	F	0.01%
	AMCX	F	0.01%
	MYRG	F	0.01%
	ARI	D	0.01%
	ENR	C	0.01%
	BKD	C	0.01%
	RAMP	D	0.01%
	SMTC	D	0.01%
	KRG	B	0.01%
	BDN	D	0.01%
	ICFI	D	0.01%
	NPO	D	0.01%
	BANR	B	0.01%
	ABR	B	0.01%
	ONTO	B	0.01%
	PGRE	C	0.01%
	HGV	F	0.01%
	PECO	C	0.01%
	SKT	D	0.01%
	LRN	C	0.01%
	AMRK	D	0.01%
	FIBK	B	0.01%
	NHC	A	0.01%
	GFF	D	0.01%
	FFBC	C	0.01%
	WDAY	D	0.01%
	HAE	D	0.01%
	NMRK	C	0.01%
	PSN	B	0.01%
	ECPG	D	0.01%
	PBI	B	0.01%
	DORM	C	0.01%
	KOS	D	0.01%
	AXL	D	0.01%
	HOPE	C	0.01%
	IBP	D	0.01%
	VC	D	0.01%
	HTH	C	0.01%
	JACK	F	0.01%
	DOLE	C	0.01%
	TRMK	C	0.01%
	AIN	D	0.01%
	TCBI	B	0.01%
	OPCH	F	0.01%
	UCTT	A	0.01%
	EXLS	B	0.01%
	JBT	F	0.01%
	WOR	F	0.01%
	AEIS	C	0.01%
	STRA	C	0.01%
	PBH	C	0.01%
	IDCC	A	0.01%
	IBOC	C	0.01%
	CBRL	F	0.01%
	PDM	B	0.01%
	UNIT	F	0.01%
	FORM	A	0.01%
	ABCB	B	0.01%
	APOG	C	0.01%
	MWA	C	0.01%
	NGVT	F	0.01%
	CHX	C	0.01%
	CSTM	D	0.01%
	LANC	C	0.01%
	XHR	D	0.01%
	CIVI	D	0.01%
	SKY	F	0.01%
	SHO	D	0.01%
	CVCO	D	0.01%
	OTTR	C	0.01%
	SITC	A	0.01%
	BOOT	B	0.01%
	ENSG	A	0.01%
	SFNC	D	0.01%
	TNET	F	0.01%
	JBLU	B	0.01%
	BGC	C	0.01%
	GBCI	D	0.01%
	DLX	B	0.01%
	CVLT	A	0.01%
	BOH	D	0.01%
	ABNB	B	0.01%
	CNK	B	0.01%
	DRH	D	0.01%
	HPP	D	0.01%
	PLUS	C	0.01%
	HIBB	A	0.01%
	FSS	C	0.01%
	DIOD	D	0.01%
	CHRD	C	0.01%
	RLJ	F	0.01%
	IGT	D	0.01%
	UMBF	B	0.01%
	WTS	D	0.01%
	KALU	C	0.01%
	VSTO	B	0.01%
	KTB	D	0.01%
	MCY	C	0.01%
	ITGR	D	0.01%
	FULT	D	0.01%
	AZZ	D	0.01%
	IOSP	D	0.01%
	JBGS	B	0.01%
	OUT	C	0.01%
	WWW	C	0.01%
	ITRI	C	0.01%
	LGIH	F	0.01%
	GEF	F	0.01%
	PIPR	A	0.01%
	DDS	C	0.01%
	COKE	B	0.01%
	RIG	D	0.01%
	AMWD	F	0.01%
	CATY	C	0.01%
	FELE	D	0.01%
	CYH	D	0.01%
	VLY	F	0.01%
	EPC	B	0.01%
	HI	F	0.01%
	SAH	D	0.01%
	WAFD	C	0.01%
	LBRT	D	0.01%
	LAUR	C	0.01%
	ENVA	B	0.01%
	SCL	D	0.01%
	KAR	C	0.01%
	WGO	F	0.01%
	AIR	B	0.01%
	ZD	F	0.01%
	LZB	C	0.01%
	APAM	D	0.01%
	FDP	F	0.01%
	CEIX	B	0.01%
	CALM	B	0.01%
	SCSC	D	0.01%
	ONB	B	0.01%
	BXMT	C	0.01%
	SIGI	F	0.01%
	BDC	C	0.01%
	SUM	D	0.01%
	AROC	B	0.01%
	SLAB	D	0.01%
	YELP	F	0.01%
	KELYA	C	0.01%
	JELD	D	0.01%
	UVV	F	0.01%
	AVA	D	0.01%
	AMN	F	0.01%
	AMR	C	0.01%
	WMK	D	0.01%
	DNOW	C	0.01%
	PCH	F	0.01%
	DELL	B	0.01%
	PATK	C	0.01%
	ACIW	A	0.01%
	UBSI	D	0.01%
	MOD	A	0.01%
	HELE	F	0.01%
	SKYW	B	0.01%
	HLF	C	0.01%
	CWK	C	0.01%
	THS	C	0.01%
	PNM	D	0.01%
	WD	D	0.01%
	KMT	F	0.01%
	NOMD	D	0.01%
	ATKR	F	0.01%
	APG	C	0.01%
	NWE	D	0.01%
	UNF	B	0.01%
	MATX	B	0.01%
	MC	A	0.01%
	OGS	C	0.01%
	SBH	C	0.01%
	SXT	D	0.01%
	NJR	D	0.01%
	PSMT	D	0.01%
	SVC	D	0.01%
	SN	C	0.01%
	PFSI	A	0.01%
	MTDR	D	0.01%
	APLE	D	0.01%
	ACA	D	0.01%
	MTX	B	0.01%
	EAT	C	0.01%
	SSD	F	0.01%
	KNF	D	0.01%
	LCII	F	0.01%
	B	B	0.01%
	SBRA	A	0.01%
	FN	C	0.01%
	CRC	B	0.01%
	SCS	B	0.01%
	OMI	F	0.01%
	SIX	B	0.01%
	SPTN	F	0.01%
	HRI	F	0.01%
	HNI	B	0.01%
	CCS	F	0.01%
	BCO	B	0.01%
	IMKTA	F	0.01%
	SR	C	0.01%
	ALE	C	0.01%
	ESNT	B	0.01%
	STC	C	0.01%
	CXW	D	0.01%
	CADE	C	0.01%
	ATGE	A	0.01%
	MLKN	D	0.01%
	TRN	C	0.01%
	GIII	F	0.01%
	ARCB	D	0.01%
	HWC	B	0.01%
	DEI	C	0.01%
	ASB	C	0.01%
	PLXS	C	0.01%
	GBX	C	0.01%
	GMS	F	0.01%
	EBS	B	0.01%
	DHC	B	0.01%
	GVA	B	0.01%
	CBOE	D	0.01%
	FUL	D	0.01%
	TROX	D	0.01%
	PDCO	F	0.01%
	SHOO	C	0.01%
	UNFI	C	0.01%
	ARCH	C	0.01%
	PTEN	F	0.01%
	TEX	D	0.01%
	ADTN	F	0.01%
	OI	F	0.01%
	COOP	C	0.01%
	GHC	C	0.01%
	ANDE	F	0.01%
	AVNT	D	0.01%
	FIX	C	0.01%
	KFY	B	0.01%
	CRS	B	0.01%
	MOG.A	C	0.01%
	PRG	D	0.01%
	NIC	B	0.0%
	SPWH	F	0.0%
	PRM	B	0.0%
	GIC	F	0.0%
	AMSF	F	0.0%
	TWI	F	0.0%
	TK	C	0.0%
	CRNC	F	0.0%
	AMPH	F	0.0%
	AGM	B	0.0%
	TBBK	B	0.0%
	MGPI	F	0.0%
	TTEC	F	0.0%
	THR	D	0.0%
	HOV	D	0.0%
	PCRX	F	0.0%
	GSM	C	0.0%
	HLNE	B	0.0%
	KE	F	0.0%
	REX	D	0.0%
	SNEX	B	0.0%
	CMTL	D	0.0%
	ONEW	C	0.0%
	CENT	F	0.0%
	AMRC	D	0.0%
	PKST	F	0.0%
	WMG	D	0.0%
	EDR	A	0.0%
	SLCA	B	0.0%
	SGRY	F	0.0%
	IVT	D	0.0%
	AOSL	B	0.0%
	IRWD	F	0.0%
	SBOW	B	0.0%
	GPRO	F	0.0%
	SFBS	C	0.0%
	SEDG	F	0.0%
	GDEN	F	0.0%
	SSP	F	0.0%
	VSEC	B	0.0%
	VCTR	C	0.0%
	PLCE	F	0.0%
	SSYS	F	0.0%
	LESL	F	0.0%
	CRMT	F	0.0%
	CLOV	B	0.0%
	MED	F	0.0%
	USM	B	0.0%
	SBCF	D	0.0%
	PRVA	D	0.0%
	GPMT	F	0.0%
	PETS	F	0.0%
	CTRE	B	0.0%
	ASTH	C	0.0%
	BRSP	D	0.0%
	RNST	C	0.0%
	VIR	F	0.0%
	CALX	C	0.0%
	MOV	F	0.0%
	LEVI	D	0.0%
	EVRI	C	0.0%
	DHIL	D	0.0%
	RMBS	D	0.0%
	VRTS	C	0.0%
	ATNI	D	0.0%
	CNOB	D	0.0%
	MODV	D	0.0%
	CRGY	B	0.0%
	FIZZ	B	0.0%
	CSV	B	0.0%
	OIS	D	0.0%
	RYAM	C	0.0%
	CCSI	F	0.0%
	NPK	D	0.0%
	GTLS	D	0.0%
	HAFC	B	0.0%
	SRCE	B	0.0%
	BMBL	F	0.0%
	JRVR	F	0.0%
	CCRN	F	0.0%
	PLOW	F	0.0%
	DENN	F	0.0%
	ALGT	F	0.0%
	MXL	B	0.0%
	AVD	F	0.0%
	VREX	F	0.0%
	WASH	B	0.0%
	MEI	F	0.0%
	ARKO	C	0.0%
	SNAP	C	0.0%
	SSTK	F	0.0%
	IRBT	F	0.0%
	USPH	F	0.0%
	CSR	B	0.0%
	GTY	D	0.0%
	TITN	F	0.0%
	KRNY	C	0.0%
	IHRT	F	0.0%
	AVO	D	0.0%
	OPK	F	0.0%
	CMTG	D	0.0%
	CMP	F	0.0%
	CLDT	D	0.0%
	GRBK	C	0.0%
	HFWA	D	0.0%
	RC	D	0.0%
	BANF	D	0.0%
	HLIO	D	0.0%
	XPRO	C	0.0%
	FLGT	F	0.0%
	KREF	D	0.0%
	PZZA	F	0.0%
	MYE	F	0.0%
	TMP	C	0.0%
	PFC	C	0.0%
	DCO	B	0.0%
	DIN	F	0.0%
	UFCS	D	0.0%
	IPAR	F	0.0%
	EGBN	D	0.0%
	ALKS	D	0.0%
	OCFC	B	0.0%
	ARCO	D	0.0%
	SHYF	F	0.0%
	OPI	F	0.0%
	WABC	C	0.0%
	SNOW	D	0.0%
	NOG	C	0.0%
	BJRI	B	0.0%
	SRI	F	0.0%
	ERIE	C	0.0%
	HASI	D	0.0%
	TPIC	D	0.0%
	WOW	C	0.0%
	GNK	C	0.0%
	CRAI	C	0.0%
	RILY	F	0.0%
	AVNS	F	0.0%
	UTL	C	0.0%
	CTRN	F	0.0%
	ALTO	F	0.0%
	ALRM	D	0.0%
	AMBC	F	0.0%
	BRC	B	0.0%
	BBSI	B	0.0%
	CPF	B	0.0%
	SPSC	B	0.0%
	DRQ	D	0.0%
	LKFN	D	0.0%
	TCBK	B	0.0%
	WTTR	B	0.0%
	FBNC	C	0.0%
	GDOT	F	0.0%
	TSE	F	0.0%
	HVT	F	0.0%
	EBF	B	0.0%
	CVGW	F	0.0%
	AHCO	D	0.0%
	VAL	B	0.0%
	BRY	D	0.0%
	HSII	D	0.0%
	UIS	D	0.0%
	ETD	D	0.0%
	LNN	D	0.0%
	NVEE	F	0.0%
	VRNT	C	0.0%
	STEP	A	0.0%
	AUB	C	0.0%
	MATW	F	0.0%
	BRKL	D	0.0%
	MTW	F	0.0%
	WRLD	D	0.0%
	EVTC	F	0.0%
	CWH	D	0.0%
	RGP	F	0.0%
	CFFN	B	0.0%
	SSB	D	0.0%
	DO	B	0.0%
	FLWS	C	0.0%
	PRIM	D	0.0%
	SMP	F	0.0%
	ZEUS	F	0.0%
	DXPE	D	0.0%
	CBL	B	0.0%
	SBSI	D	0.0%
	EFSC	B	0.0%
	BRBR	C	0.0%
	COMM	F	0.0%
	HMST	B	0.0%
	PRLB	D	0.0%
	TNP	B	0.0%
	RES	F	0.0%
	CLB	B	0.0%
	SHEN	D	0.0%
	DBI	F	0.0%
	GLDD	C	0.0%
	OFG	B	0.0%
	SUPN	F	0.0%
	MMI	D	0.0%
	COMP	D	0.0%
	MNRO	F	0.0%
	LTC	A	0.0%
	EPRT	A	0.0%
	PRA	F	0.0%
	RWT	B	0.0%
	DAC	B	0.0%
	UVE	D	0.0%
	FCPT	B	0.0%
	STNE	D	0.0%
	ASTE	F	0.0%
	NEOG	C	0.0%
	ASIX	F	0.0%
	OMCL	F	0.0%
	AGX	C	0.0%
	CHCO	B	0.0%
	EPAC	B	0.0%
	RDNT	B	0.0%
	NOVT	C	0.0%
	CPS	D	0.0%
	MERC	F	0.0%
	CARS	C	0.0%
	TRNO	B	0.0%
	RGR	F	0.0%
	EXPI	F	0.0%
	PJT	A	0.0%
	CNMD	F	0.0%
	ILPT	F	0.0%
	TNK	B	0.0%
	KTOS	B	0.0%
	SMPL	D	0.0%
	SABR	F	0.0%
	FHI	B	0.0%
	PRFT	B	0.0%
	MYGN	B	0.0%
	CNNE	D	0.0%
	SCVL	C	0.0%
	PARR	D	0.0%
	LIVN	D	0.0%
	FCF	B	0.0%
	SJW	F	0.0%
	ZWS	D	0.0%
	INSW	B	0.0%
	PRGS	B	0.0%
	EAF	F	0.0%
	GCO	F	0.0%
	ZUMZ	C	0.0%
	HTLD	C	0.0%
	THRY	F	0.0%
	WDFC	F	0.0%
	BLKB	D	0.0%
	USNA	F	0.0%
	TBI	F	0.0%
	VBTX	B	0.0%
	TUP	F	0.0%
	ICHR	C	0.0%
	CMRE	B	0.0%
	SENEA	C	0.0%
	DEA	B	0.0%
	COHU	B	0.0%
	RDUS	F	0.0%
	STBA	B	0.0%
	CRK	C	0.0%
	ALIT	F	0.0%
	BXC	F	0.0%
	ADUS	B	0.0%
	SBLK	C	0.0%
	AWR	D	0.0%
	WHD	B	0.0%
	SFIX	C	0.0%
	ECVT	D	0.0%
	SGH	B	0.0%
	CHEF	A	0.0%
	CCOI	D	0.0%
	CMCO	F	0.0%
	JBSS	D	0.0%
	BUSE	B	0.0%
	CTS	D	0.0%
	TRTX	A	0.0%
	DFIN	D	0.0%
	INVA	B	0.0%
	PRAA	F	0.0%
	HURN	C	0.0%
	ACCO	F	0.0%
	GLNG	A	0.0%
	ROAD	D	0.0%
	BNL	B	0.0%
	ZIMV	B	0.0%
	CPK	C	0.0%
	NBTB	B	0.0%
	CNSL	B	0.0%
	PRK	B	0.0%
	INDB	D	0.0%
	SONO	F	0.0%
	SXI	D	0.0%
	CASH	B	0.0%
	GPRE	F	0.0%
	KWR	D	0.0%
	MD	F	0.0%
	AGRO	D	0.0%
	NTGR	C	0.0%
	BZH	F	0.0%
	AAT	B	0.0%
	SNBR	F	0.0%
	CSWI	A	0.0%
	CWST	B	0.0%
	FOXF	D	0.0%
	QLYS	D	0.0%
	VRRM	B	0.0%
	HMN	D	0.0%
	HOMB	C	0.0%
	HQY	B	0.0%
	ACLS	B	0.0%
	CSGS	F	0.0%
	KAI	B	0.0%
	HALO	B	0.0%
	OPEN	F	0.0%
	EBC	B	0.0%
	CUBI	B	0.0%
	ROIC	C	0.0%
	CNS	B	0.0%
	CNDT	D	0.0%
	ALG	F	0.0%
	ATSG	C	0.0%
	PLAY	F	0.0%
	NNI	C	0.0%
	SXC	C	0.0%
	IRT	A	0.0%
	FTDR	D	0.0%
	BMI	C	0.0%
	WFRD	B	0.0%
	FFIN	C	0.0%
	CARG	C	0.0%
	AAON	B	0.0%
	PUMP	D	0.0%
	DHT	D	0.0%
	EYE	F	0.0%
	CORT	C	0.0%
	PAGS	D	0.0%
	NX	F	0.0%
	NMIH	A	0.0%
	VIAV	D	0.0%
	TRS	D	0.0%
	CCO	C	0.0%
	LPG	D	0.0%
	GTN	D	0.0%
	KOP	F	0.0%
	AAN	B	0.0%
	PR	C	0.0%
	EXPO	C	0.0%
	NBR	D	0.0%
	GES	F	0.0%
	NVRI	B	0.0%
	ESE	D	0.0%
	CAL	D	0.0%
	NTB	B	0.0%
	NWBI	B	0.0%
	TILE	D	0.0%
	MRTN	C	0.0%
	HWKN	A	0.0%
	SWBI	F	0.0%
	IBTX	B	0.0%
	STNG	B	0.0%
	TNC	D	0.0%
	HAIN	D	0.0%
	PTVE	D	0.0%
	FRME	C	0.0%

FNDB Underweight 113 Positions Relative to IWR

	Symbol	Grade	Weight
	CRWD	A	-0.75%
	FERG	D	-0.36%
	COR	C	-0.35%
	DDOG	B	-0.32%
	ALNY	A	-0.28%
	NU	B	-0.27%
	HUBS	D	-0.25%
	NET	B	-0.22%
	AXON	C	-0.19%
	LH	C	-0.16%
	RBLX	B	-0.16%
	MDB	D	-0.15%
	ZS	B	-0.15%
	COO	D	-0.15%
	DKNG	F	-0.14%
	RBA	B	-0.13%
	FWONK	B	-0.13%
	SRPT	C	-0.13%
	HOOD	B	-0.13%
	RVTY	F	-0.12%
	GEN	B	-0.12%
	NTNX	D	-0.12%
	NTRA	B	-0.11%
	DOCU	D	-0.1%
	RIVN	C	-0.09%
	NLY	C	-0.09%
	FBIN	F	-0.08%
	QGEN	D	-0.08%
	ESTC	B	-0.08%
	NCLH	C	-0.07%
	OWL	D	-0.07%
	CELH	F	-0.07%
	SOFI	D	-0.06%
	HR	B	-0.06%
	TKO	A	-0.06%
	IONS	B	-0.06%
	AFRM	F	-0.06%
	PCOR	C	-0.05%
	BILL	F	-0.05%
	RITM	D	-0.05%
	AZPN	C	-0.05%
	PCTY	F	-0.05%
	SMAR	B	-0.05%
	FRPT	A	-0.05%
	CFLT	D	-0.05%
	RYAN	C	-0.05%
	BEPC	D	-0.04%
	INSP	F	-0.04%
	FOUR	B	-0.04%
	LAZ	C	-0.04%
	APLS	F	-0.04%
	FOX	A	-0.04%
	CAVA	B	-0.04%
	GTLB	D	-0.04%
	CCCS	D	-0.04%
	U	F	-0.04%
	PATH	F	-0.04%
	S	D	-0.04%
	BHF	D	-0.03%
	CXT	D	-0.03%
	FIVN	F	-0.03%
	DOCS	C	-0.03%
	HCP	A	-0.03%
	LSXMK	D	-0.03%
	NWS	A	-0.03%
	RARE	F	-0.03%
	MSGS	B	-0.03%
	ROIV	F	-0.03%
	CERT	D	-0.02%
	QS	F	-0.02%
	NATL	A	-0.02%
	LLYVK	C	-0.02%
	FTRE	D	-0.02%
	QDEL	F	-0.02%
	TXG	F	-0.02%
	NVCR	D	-0.02%
	RCM	F	-0.02%
	ADT	B	-0.02%
	LCID	D	-0.02%
	NCNO	C	-0.02%
	HHH	D	-0.02%
	ZG	C	-0.02%
	TNDM	D	-0.02%
	DV	F	-0.02%
	MCW	F	-0.01%
	TFSL	C	-0.01%
	UI	B	-0.01%
	CART	C	-0.01%
	UWMC	C	-0.01%
	LLYVA	C	-0.01%
	MRVI	F	-0.01%
	DRVN	C	-0.01%
	PYCR	F	-0.01%
	SSRM	F	-0.01%
	LBRDA	C	-0.01%
	PLUG	F	-0.01%
	BIRK	C	-0.01%
	UA	D	-0.01%
	INFA	B	-0.01%
	NFE	F	-0.01%
	SHC	C	-0.01%
	FWONA	B	-0.01%
	VYX	D	-0.01%
	LSXMA	D	-0.01%
	RNAC	F	-0.0%
	PLTK	F	-0.0%
	PARAA	D	-0.0%
	OLPX	F	-0.0%
	NLOP	B	-0.0%
	GRAL	D	-0.0%
	AMBP	D	-0.0%
	DNA	F	-0.0%
	CHPT	D	-0.0%

FNDB: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Software - Application Asset Management Business Services Oil & Gas E&P Specialty Retail Specialty Chemicals REIT - Diversified Packaged Foods Semiconductors Utilities - Regulated Electric Insurance - Property & Casualty Building Materials Capital Markets Engineering & Construction Diagnostics & Research REIT - Retail Restaurants Auto Parts

Keywords: S&P 500 Bank Banking Nasdaq 100 Natural Gas Real Estate Investment Trust Insurance Computing Chemical Electronics Mining Aerospace Deposit Products Telecommunications Electricity Construction Semiconductor Medicine Transport Commercial Banking

IWR: Top Represented Industries & Keywords

Industries: Software - Application Banks - Regional - US Diversified Industrials Biotechnology Business Services Diagnostics & Research Software - Infrastructure Asset Management Utilities - Regulated Electric Specialty Retail Information Technology Services Packaging & Containers Capital Markets Oil & Gas E&P Packaged Foods REIT - Residential Insurance - Property & Casualty Medical Instruments & Supplies Specialty Chemicals Building Materials

Keywords: S&P 500 Nasdaq 100 Computing Insurance Natural Gas Real Estate Investment Trust Banking Bank Chemical Electronics Electricity Mining Aerospace Medicine Telecommunications Biotechnology Insurance Products Transport Beverage Cloud Computing