FNDX vs. FELV ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to Fidelity Enhanced Large Cap Value ETF (FELV)

FNDX

Schwab Fundamental U.S. Large Company Index ETF

FNDX Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Large 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

$24.64

Average Daily Volume

1,178,356

Number of Holdings ^*

721

* may have additional holdings in another (foreign) market

FELV

Fidelity Enhanced Large Cap Value ETF

FELV Description

The fund will normally invest at least 80% of assets in common stocks included in the Russell 1000® Value Index, which is a market capitalization-weighted index designed to measure the performance of the large-cap value segment of the U.S. equity market. The adviser will generally use computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the index. It will invest in domestic and foreign issuers.

Grade (RS Rating)

Last Trade

$32.26

Average Daily Volume

105,833

Number of Holdings ^*

323

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	FELV
30 Days	2.37%	3.13%
60 Days	4.07%	5.35%
90 Days	5.72%	6.57%
12 Months	28.68%	28.71%

261 Overlapping Holdings

Symbol	Grade	Weight in FNDX	Weight in FELV	Overlap
A	D	0.05%	0.09%	0.05%
AAPL	C	4.35%	0.19%	0.19%
ABBV	F	0.49%	0.88%	0.49%
ABT	B	0.34%	0.52%	0.34%
ACN	B	0.36%	0.34%	0.34%
ADBE	C	0.2%	0.37%	0.2%
ADI	D	0.13%	0.04%	0.04%
ADM	D	0.21%	0.1%	0.1%
ADP	A	0.15%	0.11%	0.11%
AEP	C	0.16%	0.08%	0.08%
AES	F	0.05%	0.16%	0.05%
AIZ	A	0.03%	0.1%	0.03%
ALL	A	0.27%	0.18%	0.18%
ALLE	C	0.01%	0.53%	0.01%
AMAT	F	0.24%	0.46%	0.24%
AMD	F	0.09%	0.06%	0.06%
AME	A	0.05%	0.16%	0.05%
AMGN	F	0.39%	0.17%	0.17%
AMT	C	0.11%	0.1%	0.1%
AMZN	C	1.56%	0.03%	0.03%
ANSS	B	0.02%	0.01%	0.01%
AON	A	0.13%	0.59%	0.13%
ARW	D	0.08%	0.06%	0.06%
AVGO	D	0.61%	0.2%	0.2%
AXP	A	0.36%	0.2%	0.2%
AXTA	B	0.02%	0.03%	0.02%
AYI	B	0.04%	0.02%	0.02%
BAC	A	1.3%	1.71%	1.3%
BAX	F	0.07%	0.08%	0.07%
BBWI	C	0.03%	0.06%	0.03%
BBY	D	0.16%	0.14%	0.14%
BCC	B	0.04%	0.11%	0.04%
BDX	F	0.11%	0.69%	0.11%
BERY	C	0.04%	0.02%	0.02%
BIIB	F	0.09%	0.33%	0.09%
BK	A	0.26%	0.62%	0.26%
BKR	A	0.16%	0.1%	0.1%
BLD	D	0.01%	0.11%	0.01%
BMY	B	0.45%	0.92%	0.45%
BRK.A	B	2.17%	3.54%	2.17%
BRX	A	0.02%	0.34%	0.02%
BSX	A	0.09%	0.18%	0.09%
C	A	1.1%	0.27%	0.27%
CACI	D	0.03%	0.58%	0.03%
CAH	B	0.07%	0.3%	0.07%
CAT	B	0.41%	0.55%	0.41%
CCI	C	0.09%	0.55%	0.09%
CCK	D	0.04%	0.18%	0.04%
CCL	A	0.06%	0.13%	0.06%
CEG	C	0.1%	0.18%	0.1%
CI	D	0.48%	0.63%	0.48%
CINF	A	0.07%	0.27%	0.07%
CL	D	0.13%	0.51%	0.13%
CLX	A	0.04%	0.24%	0.04%
CMCSA	B	0.83%	1.14%	0.83%
CME	B	0.08%	0.56%	0.08%
CMG	B	0.04%	0.07%	0.04%
CMI	A	0.19%	0.33%	0.19%
CNC	D	0.19%	0.23%	0.19%
CNO	B	0.04%	0.09%	0.04%
CNP	A	0.06%	0.14%	0.06%
COF	C	0.48%	0.48%	0.48%
COP	C	0.48%	0.54%	0.48%
CRM	B	0.15%	0.23%	0.15%
CSCO	B	0.82%	1.07%	0.82%
CSX	C	0.22%	0.37%	0.22%
CTAS	B	0.08%	0.54%	0.08%
CTRA	B	0.03%	0.05%	0.03%
CVS	D	0.68%	0.29%	0.29%
CVX	A	1.25%	0.51%	0.51%
CW	C	0.03%	0.06%	0.03%
DBX	B	0.01%	0.44%	0.01%
DD	C	0.17%	0.48%	0.17%
DELL	B	0.03%	0.08%	0.03%
DFS	B	0.26%	0.05%	0.05%
DGX	A	0.07%	0.01%	0.01%
DHI	F	0.16%	0.03%	0.03%
DHR	F	0.15%	0.17%	0.15%
DIS	B	0.45%	0.7%	0.45%
DOC	C	0.03%	0.23%	0.03%
DTE	C	0.07%	0.09%	0.07%
DUK	C	0.3%	0.27%	0.27%
DVN	F	0.09%	0.34%	0.09%
EA	A	0.09%	0.06%	0.06%
ECL	D	0.08%	0.5%	0.08%
ED	C	0.12%	0.22%	0.12%
EIX	B	0.1%	0.16%	0.1%
ELV	F	0.36%	0.12%	0.12%
EOG	A	0.23%	0.45%	0.23%
EQIX	A	0.08%	0.2%	0.08%
EQR	C	0.05%	0.17%	0.05%
ES	C	0.08%	0.13%	0.08%
ETN	A	0.23%	0.77%	0.23%
EVRG	A	0.07%	0.34%	0.07%
EW	C	0.04%	0.05%	0.04%
EXC	C	0.17%	0.23%	0.17%
F	C	0.33%	0.32%	0.32%
FANG	C	0.05%	0.14%	0.05%
FTI	A	0.01%	0.13%	0.01%
FTV	C	0.03%	0.33%	0.03%
GAP	C	0.04%	0.25%	0.04%
GD	D	0.21%	0.16%	0.16%
GE	D	0.15%	1.07%	0.15%
GEHC	D	0.09%	0.16%	0.09%
GEV	B	0.04%	0.3%	0.04%
GILD	C	0.37%	0.99%	0.37%
GIS	D	0.11%	0.05%	0.05%
GL	C	0.03%	0.27%	0.03%
GLPI	C	0.02%	0.05%	0.02%
GLW	B	0.14%	0.02%	0.02%
GPN	B	0.09%	0.09%	0.09%
GRMN	B	0.03%	0.09%	0.03%
GS	A	0.62%	0.34%	0.34%
HAL	C	0.06%	0.12%	0.06%
HD	B	0.8%	0.44%	0.44%
HON	C	0.37%	0.08%	0.08%
HPE	B	0.21%	0.21%	0.21%
HUM	C	0.19%	0.1%	0.1%
HWM	A	0.07%	0.12%	0.07%
IBM	C	0.54%	0.27%	0.27%
ICE	C	0.11%	0.18%	0.11%
IFF	D	0.05%	0.09%	0.05%
ILMN	C	0.03%	0.17%	0.03%
INGR	C	0.05%	0.04%	0.04%
INTC	C	0.89%	0.85%	0.85%
IQV	F	0.07%	0.19%	0.07%
ITT	A	0.03%	0.18%	0.03%
ITW	B	0.15%	0.12%	0.12%
JCI	B	0.16%	0.22%	0.16%
JNJ	C	0.89%	1.14%	0.89%
JPM	A	2.03%	2.81%	2.03%
JXN	C	0.04%	0.16%	0.04%
KD	B	0.05%	0.09%	0.05%
KEY	B	0.1%	0.17%	0.1%
KHC	F	0.09%	0.13%	0.09%
KLAC	F	0.08%	0.03%	0.03%
KMB	C	0.1%	0.13%	0.1%
KMI	A	0.23%	0.23%	0.23%
KR	B	0.3%	0.31%	0.3%
L	A	0.05%	0.34%	0.05%
LDOS	C	0.07%	0.58%	0.07%
LEG	F	0.02%	0.06%	0.02%
LH	B	0.09%	0.08%	0.08%
LHX	C	0.16%	0.43%	0.16%
LIN	C	0.33%	0.46%	0.33%
LMT	D	0.37%	0.67%	0.37%
LOW	C	0.43%	0.07%	0.07%
LPX	B	0.04%	0.31%	0.04%
M	F	0.06%	0.01%	0.01%
MA	B	0.29%	0.28%	0.28%
MATX	C	0.02%	0.04%	0.02%
MCD	D	0.34%	0.28%	0.28%
MCK	A	0.11%	0.01%	0.01%
MDLZ	F	0.2%	0.06%	0.06%
MDT	D	0.16%	0.39%	0.16%
META	D	1.79%	0.21%	0.21%
MGM	D	0.06%	0.2%	0.06%
MKC	C	0.03%	0.08%	0.03%
MMC	B	0.14%	0.38%	0.14%
MMM	D	0.35%	0.6%	0.35%
MO	A	0.37%	0.26%	0.26%
MS	A	0.46%	0.53%	0.46%
MSCI	C	0.03%	0.19%	0.03%
MSI	B	0.07%	0.2%	0.07%
MU	D	0.38%	0.95%	0.38%
MUR	D	0.02%	0.01%	0.01%
NEE	C	0.24%	0.78%	0.24%
NEM	D	0.13%	0.05%	0.05%
NFLX	A	0.17%	0.18%	0.17%
NOC	D	0.2%	0.67%	0.2%
NSC	B	0.21%	0.58%	0.21%
NTAP	C	0.07%	0.12%	0.07%
NUE	C	0.19%	0.36%	0.19%
NVDA	B	0.4%	0.18%	0.18%
NWL	C	0.03%	0.06%	0.03%
NWSA	A	0.04%	0.06%	0.04%
OC	A	0.07%	0.21%	0.07%
OGE	A	0.03%	0.06%	0.03%
OGN	F	0.04%	0.02%	0.02%
OXY	D	0.11%	0.08%	0.08%
PCAR	B	0.15%	0.4%	0.15%
PCG	A	0.03%	0.38%	0.03%
PEG	A	0.11%	0.1%	0.1%
PFE	F	0.68%	0.88%	0.68%
PFG	D	0.09%	0.16%	0.09%
PG	C	0.77%	1.18%	0.77%
PGR	A	0.23%	0.35%	0.23%
PH	A	0.13%	0.12%	0.12%
PKG	A	0.07%	0.13%	0.07%
PM	B	0.48%	1.22%	0.48%
PNC	B	0.3%	0.72%	0.3%
PNR	A	0.04%	0.18%	0.04%
PPG	F	0.08%	0.57%	0.08%
PRU	A	0.22%	0.33%	0.22%
PSA	C	0.05%	0.51%	0.05%
PYPL	B	0.22%	0.79%	0.22%
QCOM	F	0.43%	0.47%	0.43%
QRVO	F	0.03%	0.11%	0.03%
REG	A	0.02%	0.07%	0.02%
RGA	A	0.04%	0.03%	0.03%
RJF	A	0.05%	0.03%	0.03%
ROST	D	0.07%	0.11%	0.07%
RSG	A	0.06%	0.65%	0.06%
RTX	D	0.34%	0.72%	0.34%
SCHW	B	0.13%	0.83%	0.13%
SEE	C	0.03%	0.25%	0.03%
SEIC	B	0.03%	0.57%	0.03%
SO	C	0.26%	0.07%	0.07%
SOLV	D	0.02%	0.12%	0.02%
SON	F	0.02%	0.06%	0.02%
SPG	A	0.1%	0.18%	0.1%
SPGI	C	0.15%	0.71%	0.15%
SQ	A	0.03%	0.69%	0.03%
SSNC	B	0.04%	0.57%	0.04%
STLD	B	0.11%	0.48%	0.11%
STT	B	0.1%	0.14%	0.1%
SWKS	F	0.04%	0.13%	0.04%
SYF	B	0.34%	0.03%	0.03%
SYK	B	0.13%	0.25%	0.13%
T	A	1.27%	0.98%	0.98%
TAP	C	0.05%	0.14%	0.05%
TFC	A	0.23%	0.23%	0.23%
TFX	F	0.02%	0.03%	0.02%
TJX	A	0.22%	0.27%	0.22%
TMHC	C	0.04%	0.19%	0.04%
TMO	F	0.25%	0.79%	0.25%
TMUS	B	0.25%	0.55%	0.25%
TNL	A	0.01%	0.01%	0.01%
TOL	B	0.06%	0.28%	0.06%
TPH	D	0.03%	0.36%	0.03%
TPR	B	0.05%	0.09%	0.05%
TRGP	A	0.07%	0.08%	0.07%
TRMB	B	0.03%	0.05%	0.03%
TROW	B	0.13%	0.13%	0.13%
TRV	B	0.31%	0.27%	0.27%
TT	A	0.06%	0.52%	0.06%
TXN	C	0.34%	0.16%	0.16%
TXT	D	0.06%	0.55%	0.06%
UHS	D	0.08%	0.13%	0.08%
UNH	B	1.22%	1.64%	1.22%
UNM	A	0.06%	0.36%	0.06%
UNP	C	0.35%	0.76%	0.35%
UPS	C	0.28%	0.06%	0.06%
USFD	A	0.08%	0.19%	0.08%
VICI	C	0.02%	0.24%	0.02%
VMC	B	0.05%	0.28%	0.05%
VRTX	D	0.07%	0.1%	0.07%
VST	A	0.16%	0.06%	0.06%
VZ	C	1.13%	0.65%	0.65%
WAB	B	0.06%	0.49%	0.06%
WBD	B	0.08%	0.09%	0.08%
WCC	B	0.04%	0.08%	0.04%
WDC	D	0.12%	0.14%	0.12%
WFC	A	1.35%	1.01%	1.01%
WM	B	0.15%	0.25%	0.15%
WMB	A	0.17%	0.12%	0.12%
WMT	A	1.47%	1.73%	1.47%
WTW	B	0.07%	0.26%	0.07%
XEL	A	0.12%	0.24%	0.12%
XOM	B	1.99%	2.47%	1.99%
ZBRA	B	0.04%	0.33%	0.04%

FNDX Overweight 460 Positions Relative to FELV

Symbol	Grade	Weight
MSFT	D	2.43%
GOOGL	C	1.33%
GOOG	C	1.14%
GM	C	0.79%
COST	A	0.66%
LUMN	C	0.65%
ORCL	A	0.5%
MRK	D	0.42%
PEP	F	0.41%
MPC	D	0.4%
VLO	C	0.39%
TGT	F	0.38%
PSX	C	0.36%
V	A	0.36%
CHTR	C	0.35%
KO	D	0.35%
FDX	B	0.32%
USB	A	0.32%
TSLA	B	0.28%
BLK	B	0.28%
AIG	B	0.28%
SBUX	A	0.28%
MET	A	0.26%
CB	C	0.26%
BKNG	A	0.24%
DE	B	0.23%
AFL	B	0.21%
HPQ	B	0.21%
TSN	B	0.2%
LLY	F	0.2%
HCA	F	0.2%
CTSH	B	0.19%
NKE	F	0.19%
DOW	F	0.18%
IP	A	0.17%
WBA	F	0.17%
EBAY	D	0.17%
EMR	B	0.17%
D	C	0.17%
LEN	D	0.16%
AMP	A	0.15%
LRCX	F	0.15%
LYB	F	0.14%
FCX	F	0.14%
OKE	A	0.14%
HIG	B	0.14%
APD	A	0.13%
FITB	B	0.13%
BX	A	0.13%
SRE	A	0.13%
CBRE	B	0.13%
FI	A	0.13%
URI	C	0.13%
FIS	C	0.12%
ETR	B	0.12%
SLB	C	0.12%
CARR	C	0.12%
KKR	A	0.12%
ORLY	B	0.11%
MTB	A	0.11%
PARA	C	0.11%
PPL	A	0.11%
BA	F	0.11%
INTU	B	0.11%
PHM	D	0.11%
SYY	D	0.1%
ALLY	C	0.1%
FOXA	A	0.1%
VTRS	A	0.1%
REGN	F	0.1%
WELL	A	0.1%
BG	D	0.1%
NRG	B	0.1%
CFG	B	0.1%
RF	A	0.09%
MRO	B	0.09%
SW	A	0.09%
ISRG	A	0.09%
STX	C	0.09%
FE	C	0.09%
RS	B	0.09%
CTVA	C	0.09%
MAR	A	0.09%
APH	A	0.09%
WY	F	0.09%
EMN	C	0.08%
HBAN	A	0.08%
NTRS	A	0.08%
NVR	D	0.08%
CHRW	B	0.08%
VTR	B	0.08%
YUM	D	0.08%
WHR	B	0.08%
OMC	C	0.08%
DG	F	0.08%
GWW	B	0.08%
WEC	A	0.08%
WKC	C	0.08%
DLR	B	0.08%
JLL	D	0.08%
SHW	B	0.08%
K	A	0.07%
VFC	C	0.07%
SWK	D	0.07%
CMA	B	0.07%
CF	A	0.07%
AEE	A	0.07%
THC	D	0.07%
MCO	B	0.07%
STZ	D	0.07%
PWR	A	0.07%
R	B	0.07%
PLD	F	0.07%
KDP	F	0.07%
X	B	0.07%
LAD	A	0.07%
ZTS	D	0.07%
AVT	C	0.07%
FAST	B	0.07%
SNA	A	0.06%
OVV	B	0.06%
HES	B	0.06%
ODFL	C	0.06%
DVA	C	0.06%
TSCO	D	0.06%
CPAY	A	0.06%
CAG	F	0.06%
JEF	A	0.06%
BLDR	D	0.06%
ROK	C	0.06%
BALL	F	0.06%
AZO	C	0.06%
CMS	C	0.06%
AA	A	0.06%
ZION	B	0.06%
OMF	A	0.06%
MHK	D	0.06%
LNG	A	0.06%
FLEX	B	0.06%
JBL	C	0.06%
IRM	C	0.06%
PFGC	B	0.06%
HLT	A	0.06%
EME	A	0.06%
FNF	B	0.06%
PAYX	B	0.06%
DOV	A	0.06%
TDG	D	0.06%
KSS	F	0.06%
MOS	F	0.06%
KMX	B	0.06%
MOH	F	0.05%
ACM	B	0.05%
VNO	C	0.05%
NI	A	0.05%
MNST	C	0.05%
AFG	A	0.05%
ZBH	C	0.05%
ORI	A	0.05%
JBHT	C	0.05%
MKL	A	0.05%
CSL	C	0.05%
NXPI	D	0.05%
DLTR	F	0.05%
MCHP	F	0.05%
IVZ	B	0.05%
JNPR	D	0.05%
DRI	B	0.05%
AJG	A	0.05%
AN	C	0.05%
BXP	C	0.05%
GPC	D	0.05%
OTIS	C	0.05%
AVB	B	0.05%
DXC	B	0.05%
ALSN	B	0.05%
LEA	F	0.05%
EQH	C	0.05%
TDS	B	0.05%
GPI	B	0.05%
CASY	A	0.05%
DINO	D	0.05%
BWA	D	0.05%
ROP	B	0.05%
MAS	D	0.05%
J	D	0.05%
SFM	A	0.05%
LKQ	F	0.05%
SJM	D	0.05%
BFH	C	0.05%
LNC	C	0.05%
KVUE	A	0.05%
ANET	C	0.04%
O	C	0.04%
FBIN	D	0.04%
UBER	F	0.04%
EXPE	B	0.04%
TER	F	0.04%
OSK	C	0.04%
AVY	F	0.04%
AMG	B	0.04%
IPG	D	0.04%
KEYS	A	0.04%
ZIM	C	0.04%
UFPI	C	0.04%
LVS	B	0.04%
FYBR	C	0.04%
RPM	A	0.04%
HSY	F	0.04%
ON	D	0.04%
HST	C	0.04%
DOX	D	0.04%
CRBG	B	0.04%
EXPD	C	0.04%
SLM	A	0.04%
WAT	C	0.04%
DKS	D	0.04%
GT	C	0.04%
ATO	A	0.04%
HOLX	D	0.04%
RHI	C	0.04%
HSIC	C	0.04%
CHD	A	0.04%
AWK	C	0.04%
LNT	A	0.04%
GEN	B	0.04%
FAF	A	0.04%
MUSA	B	0.04%
LPLA	A	0.04%
PVH	C	0.04%
PNW	A	0.04%
BEN	C	0.04%
THO	B	0.04%
KNX	C	0.04%
WSM	C	0.04%
VRSK	A	0.04%
EVR	B	0.04%
MAN	F	0.04%
EQT	B	0.04%
MLM	C	0.04%
MRVL	B	0.04%
UGI	C	0.04%
CDW	F	0.04%
EXP	B	0.03%
THG	A	0.03%
LSTR	D	0.03%
PRI	B	0.03%
INVH	D	0.03%
AR	B	0.03%
FMC	D	0.03%
SCI	B	0.03%
IEX	C	0.03%
ACI	C	0.03%
MRNA	F	0.03%
ACGL	C	0.03%
TDY	B	0.03%
CPRT	B	0.03%
GNTX	C	0.03%
AAP	D	0.03%
TRU	D	0.03%
BTU	B	0.03%
RVTY	F	0.03%
KBH	D	0.03%
BURL	B	0.03%
LII	A	0.03%
G	B	0.03%
GDDY	A	0.03%
FLR	B	0.03%
SNX	D	0.03%
BC	C	0.03%
STE	D	0.03%
APO	B	0.03%
ABG	C	0.03%
SNV	C	0.03%
ARE	F	0.03%
ALB	B	0.03%
KIM	A	0.03%
VOYA	B	0.03%
TTWO	A	0.03%
MTD	F	0.03%
AMCR	C	0.03%
ARMK	B	0.03%
CPB	D	0.03%
EFX	F	0.03%
DAL	B	0.03%
CAR	C	0.03%
GPK	C	0.03%
HAS	D	0.03%
EXR	C	0.03%
AKAM	D	0.03%
FL	F	0.03%
RRX	B	0.03%
RL	C	0.03%
AGCO	D	0.03%
APA	D	0.03%
ESS	B	0.03%
MTH	D	0.03%
JHG	B	0.03%
CLF	F	0.03%
HII	F	0.03%
HRL	D	0.03%
XYL	D	0.03%
SNPS	B	0.03%
EWBC	A	0.03%
NDAQ	A	0.03%
WU	F	0.03%
CIEN	C	0.03%
ULTA	F	0.03%
GNW	A	0.03%
NXST	C	0.03%
MAA	B	0.03%
FFIV	B	0.03%
CG	B	0.03%
HUN	F	0.03%
FHN	A	0.03%
EL	F	0.03%
CMC	B	0.03%
OLN	F	0.03%
IT	C	0.03%
DECK	A	0.03%
PANW	B	0.03%
DPZ	C	0.03%
BAH	F	0.03%
CE	F	0.03%
WSO	A	0.03%
RMD	C	0.03%
IR	B	0.03%
CDNS	B	0.03%
PBF	D	0.03%
MTZ	B	0.03%
WRB	A	0.03%
ADSK	A	0.03%
SANM	B	0.03%
FTNT	C	0.03%
HBI	B	0.03%
MLI	B	0.03%
HUBB	B	0.03%
BR	A	0.03%
WLK	D	0.02%
MDU	D	0.02%
MTN	C	0.02%
ODP	F	0.02%
EG	C	0.02%
COHR	B	0.02%
ALV	C	0.02%
ALK	B	0.02%
ADNT	F	0.02%
FLO	D	0.02%
MPW	F	0.02%
BPOP	C	0.02%
CHKP	C	0.02%
ARCH	B	0.02%
TKR	D	0.02%
MIDD	C	0.02%
AER	A	0.02%
NSIT	F	0.02%
KBR	F	0.02%
POR	C	0.02%
MKSI	C	0.02%
VAC	C	0.02%
TTC	C	0.02%
UHAL	D	0.02%
XRX	F	0.02%
WPC	C	0.02%
ASO	F	0.02%
WERN	C	0.02%
LW	C	0.02%
OI	C	0.02%
POST	C	0.02%
NFG	A	0.02%
ASGN	F	0.02%
SBAC	D	0.02%
NAVI	F	0.02%
SM	B	0.02%
NDSN	B	0.02%
WST	C	0.02%
CZR	F	0.02%
CCEP	C	0.02%
LECO	C	0.02%
ST	F	0.02%
AL	B	0.02%
TPX	B	0.02%
PII	F	0.02%
STWD	C	0.02%
PAG	B	0.02%
EPAM	B	0.02%
HUBG	A	0.02%
SLG	B	0.02%
GGG	B	0.02%
GXO	B	0.02%
CTLT	C	0.02%
PENN	C	0.02%
IDXX	F	0.02%
JKHY	D	0.02%
CPT	B	0.02%
HOG	D	0.02%
APTV	F	0.02%
POOL	C	0.02%
ALGN	D	0.02%
NOV	C	0.02%
DCI	B	0.02%
FCNCA	A	0.02%
NVT	B	0.02%
AVTR	F	0.02%
AOS	F	0.02%
BECN	B	0.02%
SKX	D	0.02%
CC	C	0.02%
CNH	C	0.02%
SUI	C	0.02%
LAMR	C	0.02%
PK	C	0.02%
UDR	B	0.02%
MTG	C	0.02%
ABM	B	0.02%
DAR	C	0.02%
ATR	B	0.02%
BJ	A	0.02%
EHC	B	0.02%
RUSHA	C	0.02%
SAIC	F	0.02%
REZI	A	0.02%
BRO	B	0.02%
GNRC	C	0.02%
COR	B	0.02%
TGNA	B	0.02%
BAP	A	0.02%
LUV	C	0.02%
VSH	F	0.01%
ANDE	D	0.01%
LILAK	D	0.01%
CNXC	F	0.01%
CRL	D	0.01%
VRSN	C	0.01%
ICLR	D	0.01%
WTRG	B	0.01%
MSM	C	0.01%
SPTN	D	0.01%
CHE	D	0.01%
MMS	F	0.01%
AEO	F	0.01%
CYH	F	0.01%
JAZZ	B	0.01%
CBOE	C	0.01%
FSLR	F	0.01%
NOW	A	0.01%
PRGO	C	0.01%
QRTEA	F	0.01%
AAL	B	0.01%
JWN	D	0.01%
HRB	D	0.01%
XRAY	F	0.01%
DK	C	0.01%
HTZ	C	0.01%
DAN	D	0.01%
LULU	C	0.01%
UNFI	A	0.01%
CRI	F	0.01%
CNX	A	0.01%
CPRI	F	0.01%

FNDX Underweight 62 Positions Relative to FELV

Symbol	Grade	Weight
ZM	C	-0.66%
CVNA	B	-0.62%
IGT	F	-0.5%
TWLO	A	-0.46%
EXEL	B	-0.36%
VEEV	C	-0.3%
DOCU	B	-0.3%
ANF	F	-0.27%
TDC	D	-0.27%
FR	D	-0.27%
FLS	B	-0.25%
INCY	C	-0.23%
SKYW	C	-0.21%
Z	A	-0.2%
VMI	B	-0.2%
MTDR	B	-0.18%
MEDP	D	-0.18%
LNW	F	-0.18%
ACA	A	-0.17%
ZG	A	-0.16%
RCL	A	-0.15%
WDAY	B	-0.13%
BMRN	F	-0.12%
EEFT	B	-0.12%
CRC	A	-0.11%
QGEN	D	-0.11%
AM	A	-0.11%
MHO	D	-0.11%
ENS	F	-0.11%
BKH	A	-0.11%
AMH	C	-0.11%
CRUS	D	-0.1%
ADTN	A	-0.1%
DASH	B	-0.08%
ACT	C	-0.08%
BYD	B	-0.07%
VSTS	C	-0.06%
NMRK	C	-0.06%
SAM	C	-0.05%
ALKS	C	-0.05%
FHI	B	-0.05%
PLTK	B	-0.05%
VLTO	C	-0.04%
ALRM	C	-0.04%
MSA	F	-0.04%
HL	D	-0.04%
CSGP	D	-0.04%
CWEN	C	-0.04%
ITRI	C	-0.03%
WOOF	D	-0.03%
WS	C	-0.03%
EXTR	C	-0.03%
NWS	A	-0.03%
ELAN	D	-0.03%
CWEN	C	-0.02%
TENB	C	-0.02%
SWI	C	-0.02%
OKTA	C	-0.02%
FTDR	B	-0.01%
CXT	C	-0.01%
AXS	A	-0.01%
LYFT	C	-0.01%