FNDX vs. IWS ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to iShares Russell Mid-cap Value ETF (IWS)

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

$71.53

Average Daily Volume

410,055

Number of Holdings ^*

716

* may have additional holdings in another (foreign) market

IWS

iShares Russell Mid-cap Value ETF

IWS Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities that exhibit value characteristics. 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. It seeks to track the investment results of the Russell Midcap Value Index (the "underlying index"), which measures the performance of the mid-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$132.00

Average Daily Volume

306,447

Number of Holdings ^*

706

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	IWS
30 Days	2.67%	2.86%
60 Days	4.35%	4.51%
90 Days	7.25%	9.81%
12 Months	29.57%	28.17%

438 Overlapping Holdings

Symbol	Grade	Weight in FNDX	Weight in IWS	Overlap
A	C	0.06%	0.46%	0.06%
AA	C	0.05%	0.1%	0.05%
AAL	D	0.0%	0.08%	0.0%
AAP	F	0.03%	0.03%	0.03%
ACGL	B	0.05%	0.46%	0.05%
ACI	F	0.02%	0.09%	0.02%
ACM	B	0.04%	0.15%	0.04%
ADM	D	0.22%	0.33%	0.22%
AEE	B	0.07%	0.26%	0.07%
AES	C	0.07%	0.15%	0.07%
AFG	C	0.05%	0.11%	0.05%
AFL	A	0.23%	0.68%	0.23%
AGCO	D	0.03%	0.07%	0.03%
AIZ	B	0.03%	0.11%	0.03%
AJG	D	0.05%	0.63%	0.05%
AKAM	D	0.03%	0.17%	0.03%
AL	C	0.02%	0.05%	0.02%
ALB	D	0.02%	0.11%	0.02%
ALGN	D	0.02%	0.09%	0.02%
ALK	B	0.01%	0.06%	0.01%
ALL	C	0.29%	0.48%	0.29%
ALLE	B	0.02%	0.14%	0.02%
ALLY	F	0.1%	0.09%	0.09%
ALSN	B	0.04%	0.09%	0.04%
AMCR	B	0.02%	0.18%	0.02%
AME	C	0.05%	0.45%	0.05%
AMG	C	0.04%	0.06%	0.04%
AMP	B	0.12%	0.05%	0.05%
AN	C	0.05%	0.05%	0.05%
ANSS	D	0.02%	0.32%	0.02%
AOS	B	0.03%	0.11%	0.03%
APA	F	0.03%	0.1%	0.03%
APTV	D	0.04%	0.22%	0.04%
AR	C	0.02%	0.09%	0.02%
ARE	C	0.03%	0.24%	0.03%
ARMK	B	0.03%	0.11%	0.03%
ARW	B	0.08%	0.08%	0.08%
ATO	B	0.04%	0.23%	0.04%
ATR	B	0.02%	0.12%	0.02%
AVB	C	0.06%	0.37%	0.06%
AVT	B	0.07%	0.05%	0.05%
AVTR	C	0.03%	0.21%	0.03%
AVY	C	0.04%	0.12%	0.04%
AWK	C	0.05%	0.32%	0.05%
AXTA	B	0.02%	0.09%	0.02%
AYI	B	0.04%	0.1%	0.04%
BALL	C	0.06%	0.23%	0.06%
BAX	C	0.09%	0.22%	0.09%
BBWI	D	0.02%	0.07%	0.02%
BBY	A	0.19%	0.24%	0.19%
BC	C	0.03%	0.06%	0.03%
BEN	F	0.04%	0.07%	0.04%
BERY	B	0.04%	0.09%	0.04%
BG	F	0.11%	0.16%	0.11%
BIIB	F	0.1%	0.33%	0.1%
BJ	D	0.02%	0.12%	0.02%
BK	B	0.26%	0.6%	0.26%
BKR	C	0.14%	0.41%	0.14%
BLD	C	0.02%	0.13%	0.02%
BLDR	C	0.04%	0.24%	0.04%
BPOP	C	0.03%	0.07%	0.03%
BR	C	0.03%	0.02%	0.02%
BRO	C	0.03%	0.15%	0.03%
BRX	C	0.02%	0.09%	0.02%
BWA	C	0.05%	0.09%	0.05%
BXP	C	0.05%	0.14%	0.05%
CACI	B	0.03%	0.12%	0.03%
CAG	B	0.07%	0.17%	0.07%
CAH	C	0.07%	0.13%	0.07%
CAR	D	0.02%	0.01%	0.01%
CASY	D	0.05%	0.13%	0.05%
CBOE	C	0.02%	0.25%	0.02%
CBRE	B	0.13%	0.42%	0.13%
CC	D	0.02%	0.03%	0.02%
CCI	C	0.11%	0.57%	0.11%
CCK	B	0.04%	0.12%	0.04%
CCL	C	0.05%	0.21%	0.05%
CDW	D	0.06%	0.17%	0.06%
CE	D	0.06%	0.12%	0.06%
CF	B	0.06%	0.17%	0.06%
CFG	D	0.1%	0.21%	0.1%
CG	C	0.03%	0.11%	0.03%
CHD	C	0.04%	0.29%	0.04%
CHE	C	0.01%	0.09%	0.01%
CHK	C	0.02%	0.12%	0.02%
CHRW	B	0.07%	0.14%	0.07%
CHTR	D	0.32%	0.35%	0.32%
CIEN	B	0.03%	0.1%	0.03%
CINF	C	0.07%	0.23%	0.07%
CLF	F	0.03%	0.04%	0.03%
CMA	C	0.06%	0.09%	0.06%
CMI	B	0.17%	0.48%	0.17%
CMS	B	0.06%	0.23%	0.06%
CNC	D	0.25%	0.45%	0.25%
CNH	C	0.03%	0.11%	0.03%
CNP	C	0.06%	0.2%	0.06%
CNXC	F	0.01%	0.03%	0.01%
COHR	C	0.01%	0.13%	0.01%
CPB	C	0.04%	0.11%	0.04%
CPRI	D	0.02%	0.05%	0.02%
CPT	C	0.02%	0.15%	0.02%
CRI	D	0.02%	0.03%	0.02%
CRL	F	0.01%	0.12%	0.01%
CSL	B	0.05%	0.2%	0.05%
CTLT	B	0.02%	0.12%	0.02%
CTRA	F	0.01%	0.2%	0.01%
CTSH	B	0.18%	0.43%	0.18%
CTVA	B	0.09%	0.46%	0.09%
CW	B	0.03%	0.14%	0.03%
CZR	C	0.02%	0.1%	0.02%
DAL	C	0.02%	0.34%	0.02%
DAR	F	0.02%	0.07%	0.02%
DBX	C	0.01%	0.05%	0.01%
DCI	C	0.02%	0.1%	0.02%
DD	B	0.18%	0.39%	0.18%
DFS	C	0.21%	0.4%	0.21%
DG	F	0.08%	0.21%	0.08%
DGX	B	0.07%	0.19%	0.07%
DHI	C	0.2%	0.64%	0.2%
DINO	F	0.05%	0.08%	0.05%
DKS	D	0.05%	0.12%	0.05%
DLR	B	0.08%	0.58%	0.08%
DLTR	F	0.05%	0.16%	0.05%
DOC	B	0.04%	0.17%	0.04%
DOV	B	0.06%	0.29%	0.06%
DOW	C	0.19%	0.41%	0.19%
DOX	C	0.04%	0.11%	0.04%
DPZ	D	0.04%	0.11%	0.04%
DRI	C	0.05%	0.11%	0.05%
DTE	A	0.08%	0.29%	0.08%
DVN	F	0.08%	0.29%	0.08%
DXC	D	0.05%	0.04%	0.04%
EA	D	0.08%	0.42%	0.08%
EBAY	B	0.2%	0.36%	0.2%
ED	B	0.13%	0.4%	0.13%
EFX	C	0.04%	0.33%	0.04%
EG	B	0.03%	0.16%	0.03%
EHC	B	0.02%	0.1%	0.02%
EIX	B	0.11%	0.37%	0.11%
EME	B	0.06%	0.14%	0.06%
EMN	B	0.08%	0.14%	0.08%
EPAM	F	0.02%	0.12%	0.02%
EQR	C	0.06%	0.33%	0.06%
EQT	C	0.03%	0.22%	0.03%
ES	B	0.09%	0.27%	0.09%
ESS	C	0.04%	0.22%	0.04%
ETR	A	0.11%	0.31%	0.11%
EVR	B	0.04%	0.1%	0.04%
EVRG	B	0.07%	0.15%	0.07%
EWBC	C	0.03%	0.13%	0.03%
EXC	B	0.18%	0.46%	0.18%
EXP	B	0.02%	0.03%	0.02%
EXPD	B	0.02%	0.16%	0.02%
EXR	C	0.04%	0.43%	0.04%
FAF	B	0.04%	0.07%	0.04%
FANG	F	0.05%	0.36%	0.05%
FAST	C	0.07%	0.07%	0.07%
FCNCA	D	0.02%	0.27%	0.02%
FE	B	0.1%	0.29%	0.1%
FFIV	B	0.03%	0.14%	0.03%
FHN	D	0.03%	0.1%	0.03%
FIS	C	0.13%	0.53%	0.13%
FITB	B	0.13%	0.33%	0.13%
FLO	C	0.02%	0.05%	0.02%
FMC	B	0.03%	0.09%	0.03%
FNF	B	0.07%	0.18%	0.07%
FOXA	B	0.09%	0.1%	0.09%
FSLR	C	0.02%	0.29%	0.02%
FTI	D	0.02%	0.13%	0.02%
FTV	C	0.03%	0.3%	0.03%
FYBR	C	0.04%	0.1%	0.04%
G	C	0.02%	0.08%	0.02%
GAP	F	0.04%	0.05%	0.04%
GEHC	B	0.07%	0.41%	0.07%
GGG	C	0.02%	0.16%	0.02%
GIS	B	0.13%	0.47%	0.13%
GL	D	0.03%	0.11%	0.03%
GLPI	C	0.02%	0.15%	0.02%
GLW	B	0.14%	0.39%	0.14%
GNRC	D	0.02%	0.05%	0.02%
GNTX	D	0.03%	0.08%	0.03%
GPC	D	0.05%	0.22%	0.05%
GPK	C	0.03%	0.1%	0.03%
GPN	D	0.08%	0.32%	0.08%
GRMN	D	0.04%	0.3%	0.04%
GWW	B	0.07%	0.07%	0.07%
GXO	D	0.02%	0.07%	0.02%
HAL	F	0.06%	0.29%	0.06%
HAS	B	0.04%	0.01%	0.01%
HBAN	B	0.07%	0.24%	0.07%
HES	F	0.04%	0.15%	0.04%
HIG	B	0.15%	0.38%	0.15%
HII	F	0.04%	0.12%	0.04%
HLT	B	0.06%	0.3%	0.06%
HOG	C	0.03%	0.05%	0.03%
HOLX	D	0.04%	0.21%	0.04%
HPE	C	0.18%	0.28%	0.18%
HPQ	C	0.2%	0.29%	0.2%
HRB	C	0.02%	0.08%	0.02%
HRL	F	0.03%	0.1%	0.03%
HSIC	C	0.04%	0.1%	0.04%
HST	D	0.04%	0.15%	0.04%
HSY	D	0.04%	0.28%	0.04%
HUBB	B	0.03%	0.26%	0.03%
HUM	F	0.2%	0.42%	0.2%
HUN	C	0.03%	0.04%	0.03%
HWM	B	0.06%	0.42%	0.06%
IEX	C	0.02%	0.18%	0.02%
IFF	A	0.06%	0.3%	0.06%
ILMN	D	0.03%	0.24%	0.03%
INGR	B	0.05%	0.1%	0.05%
INVH	D	0.03%	0.25%	0.03%
IP	C	0.16%	0.19%	0.16%
IPG	C	0.04%	0.13%	0.04%
IQV	D	0.08%	0.44%	0.08%
IR	B	0.03%	0.44%	0.03%
IRM	C	0.08%	0.16%	0.08%
ITT	B	0.03%	0.13%	0.03%
IVZ	B	0.04%	0.07%	0.04%
J	A	0.06%	0.21%	0.06%
JAZZ	D	0.01%	0.08%	0.01%
JBHT	D	0.04%	0.16%	0.04%
JBL	C	0.05%	0.13%	0.05%
JEF	C	0.05%	0.09%	0.05%
JHG	B	0.03%	0.06%	0.03%
JKHY	B	0.02%	0.14%	0.02%
JLL	B	0.09%	0.1%	0.09%
JNPR	A	0.05%	0.14%	0.05%
JWN	C	0.02%	0.03%	0.02%
K	A	0.07%	0.24%	0.07%
KBR	D	0.02%	0.09%	0.02%
KD	F	0.05%	0.06%	0.05%
KEY	C	0.09%	0.18%	0.09%
KEYS	B	0.03%	0.3%	0.03%
KIM	C	0.03%	0.17%	0.03%
KMI	C	0.19%	0.48%	0.19%
KMX	D	0.07%	0.13%	0.07%
KNX	C	0.04%	0.09%	0.04%
KR	B	0.3%	0.42%	0.3%
KSS	D	0.07%	0.02%	0.02%
KVUE	B	0.03%	0.5%	0.03%
L	D	0.05%	0.16%	0.05%
LAD	B	0.05%	0.09%	0.05%
LAMR	B	0.03%	0.1%	0.03%
LDOS	A	0.08%	0.24%	0.08%
LEA	D	0.05%	0.07%	0.05%
LECO	D	0.02%	0.08%	0.02%
LEG	D	0.02%	0.02%	0.02%
LEN	B	0.19%	0.02%	0.02%
LEN	B	0.19%	0.49%	0.19%
LHX	C	0.16%	0.5%	0.16%
LKQ	F	0.05%	0.12%	0.05%
LNC	C	0.05%	0.06%	0.05%
LNG	D	0.05%	0.23%	0.05%
LNT	A	0.04%	0.17%	0.04%
LPX	B	0.04%	0.02%	0.02%
LSTR	D	0.02%	0.07%	0.02%
LUV	C	0.02%	0.2%	0.02%
LW	D	0.01%	0.07%	0.01%
LYB	D	0.15%	0.28%	0.15%
M	F	0.05%	0.05%	0.05%
MAA	C	0.04%	0.21%	0.04%
MAN	C	0.05%	0.04%	0.04%
MAS	B	0.06%	0.2%	0.06%
MCHP	D	0.05%	0.46%	0.05%
MDU	B	0.02%	0.06%	0.02%
MGM	D	0.05%	0.1%	0.05%
MHK	B	0.08%	0.09%	0.08%
MIDD	C	0.02%	0.09%	0.02%
MKC	C	0.04%	0.24%	0.04%
MKL	C	0.05%	0.17%	0.05%
MKSI	F	0.02%	0.08%	0.02%
MLM	D	0.04%	0.36%	0.04%
MOH	D	0.05%	0.09%	0.05%
MOS	F	0.05%	0.09%	0.05%
MPW	C	0.02%	0.04%	0.02%
MRO	D	0.08%	0.18%	0.08%
MSCI	C	0.03%	0.2%	0.03%
MSM	D	0.01%	0.04%	0.01%
MTB	C	0.1%	0.34%	0.1%
MTD	C	0.04%	0.34%	0.04%
MTG	B	0.03%	0.07%	0.03%
MTN	D	0.01%	0.01%	0.01%
MTZ	C	0.03%	0.09%	0.03%
NDAQ	C	0.03%	0.35%	0.03%
NDSN	C	0.02%	0.16%	0.02%
NFG	B	0.02%	0.06%	0.02%
NI	B	0.05%	0.17%	0.05%
NOV	F	0.02%	0.08%	0.02%
NRG	B	0.11%	0.12%	0.11%
NTAP	D	0.08%	0.16%	0.08%
NTRS	C	0.07%	0.21%	0.07%
NUE	D	0.18%	0.4%	0.18%
NVR	B	0.08%	0.31%	0.08%
NVT	C	0.02%	0.13%	0.02%
NWL	C	0.03%	0.03%	0.03%
NWSA	D	0.04%	0.11%	0.04%
NXST	D	0.03%	0.04%	0.03%
O	B	0.04%	0.61%	0.04%
OC	C	0.06%	0.17%	0.06%
OGE	B	0.03%	0.09%	0.03%
OGN	D	0.07%	0.06%	0.06%
OKE	C	0.13%	0.62%	0.13%
OLN	D	0.03%	0.06%	0.03%
OMC	B	0.08%	0.22%	0.08%
OMF	D	0.05%	0.06%	0.05%
ON	D	0.04%	0.34%	0.04%
ORI	B	0.05%	0.1%	0.05%
OSK	F	0.03%	0.07%	0.03%
OTIS	B	0.05%	0.44%	0.05%
OVV	F	0.04%	0.12%	0.04%
PAG	D	0.02%	0.03%	0.02%
PARA	D	0.09%	0.07%	0.07%
PAYX	C	0.06%	0.31%	0.06%
PCG	C	0.03%	0.48%	0.03%
PEG	B	0.11%	0.49%	0.11%
PENN	D	0.02%	0.03%	0.02%
PFG	B	0.08%	0.22%	0.08%
PFGC	B	0.05%	0.11%	0.05%
PHM	B	0.13%	0.33%	0.13%
PII	D	0.02%	0.05%	0.02%
PK	D	0.02%	0.04%	0.02%
PKG	B	0.07%	0.21%	0.07%
PNR	B	0.04%	0.18%	0.04%
PNW	C	0.05%	0.12%	0.05%
POST	B	0.02%	0.06%	0.02%
PPG	C	0.08%	0.33%	0.08%
PPL	A	0.11%	0.27%	0.11%
PRGO	F	0.02%	0.04%	0.02%
PRI	B	0.02%	0.1%	0.02%
PRU	C	0.23%	0.49%	0.23%
PVH	D	0.04%	0.06%	0.04%
PWR	B	0.06%	0.33%	0.06%
QRVO	F	0.05%	0.11%	0.05%
R	C	0.06%	0.07%	0.06%
REG	C	0.03%	0.15%	0.03%
RF	B	0.08%	0.24%	0.08%
RGA	C	0.04%	0.16%	0.04%
RHI	D	0.03%	0.08%	0.03%
RJF	C	0.04%	0.27%	0.04%
RL	B	0.03%	0.08%	0.03%
RMD	C	0.04%	0.29%	0.04%
ROK	D	0.05%	0.31%	0.05%
ROST	C	0.08%	0.44%	0.08%
RPM	B	0.04%	0.14%	0.04%
RRX	C	0.03%	0.13%	0.03%
RS	D	0.08%	0.18%	0.08%
SAIC	C	0.03%	0.08%	0.03%
SBAC	C	0.02%	0.29%	0.02%
SCI	C	0.03%	0.13%	0.03%
SEE	C	0.02%	0.03%	0.02%
SEIC	B	0.02%	0.08%	0.02%
SJM	C	0.06%	0.14%	0.06%
SKX	C	0.03%	0.09%	0.03%
SLM	C	0.04%	0.05%	0.04%
SNA	B	0.04%	0.17%	0.04%
SNV	D	0.02%	0.07%	0.02%
SNX	C	0.03%	0.1%	0.03%
SOLV	D	0.04%	0.11%	0.04%
SON	D	0.03%	0.06%	0.03%
SPG	B	0.11%	0.45%	0.11%
SQ	D	0.02%	0.25%	0.02%
SSNC	C	0.04%	0.18%	0.04%
ST	D	0.02%	0.06%	0.02%
STE	B	0.03%	0.26%	0.03%
STLD	C	0.09%	0.2%	0.09%
STT	B	0.1%	0.3%	0.1%
STWD	B	0.02%	0.07%	0.02%
SUI	C	0.03%	0.2%	0.03%
SW	B	0.11%	0.28%	0.11%
SWK	B	0.08%	0.19%	0.08%
SWKS	F	0.05%	0.18%	0.05%
SWN	C	0.03%	0.08%	0.03%
SYF	C	0.27%	0.23%	0.23%
SYY	C	0.1%	0.16%	0.1%
TAP	D	0.05%	0.11%	0.05%
TDY	B	0.02%	0.23%	0.02%
TER	C	0.05%	0.02%	0.02%
TFX	B	0.02%	0.13%	0.02%
THC	C	0.08%	0.18%	0.08%
THG	C	0.02%	0.06%	0.02%
THO	C	0.04%	0.06%	0.04%
TKR	C	0.02%	0.06%	0.02%
TNL	C	0.01%	0.03%	0.01%
TOL	A	0.06%	0.17%	0.06%
TPR	A	0.04%	0.11%	0.04%
TRMB	C	0.03%	0.16%	0.03%
TROW	C	0.11%	0.27%	0.11%
TRU	B	0.03%	0.22%	0.03%
TSN	D	0.2%	0.19%	0.19%
TTC	F	0.02%	0.1%	0.02%
TTWO	D	0.02%	0.29%	0.02%
TXT	D	0.06%	0.19%	0.06%
UDR	C	0.03%	0.17%	0.03%
UGI	B	0.05%	0.06%	0.05%
UHAL	B	0.02%	0.05%	0.02%
UHAL	B	0.02%	0.0%	0.0%
UHS	C	0.1%	0.16%	0.1%
ULTA	D	0.03%	0.03%	0.03%
UNM	B	0.05%	0.12%	0.05%
URI	B	0.13%	0.45%	0.13%
USFD	C	0.07%	0.16%	0.07%
VAC	D	0.01%	0.03%	0.01%
VFC	B	0.06%	0.07%	0.06%
VICI	C	0.02%	0.39%	0.02%
VMC	C	0.04%	0.28%	0.04%
VNO	B	0.05%	0.08%	0.05%
VOYA	B	0.03%	0.09%	0.03%
VRSN	C	0.01%	0.16%	0.01%
VTR	C	0.09%	0.28%	0.09%
VTRS	D	0.09%	0.15%	0.09%
WAB	B	0.06%	0.35%	0.06%
WAT	B	0.04%	0.09%	0.04%
WBA	F	0.14%	0.07%	0.07%
WBD	D	0.06%	0.23%	0.06%
WCC	C	0.03%	0.08%	0.03%
WDC	C	0.13%	0.25%	0.13%
WEC	B	0.08%	0.34%	0.08%
WHR	C	0.07%	0.06%	0.06%
WLK	C	0.02%	0.05%	0.02%
WMB	C	0.15%	0.62%	0.15%
WPC	C	0.02%	0.15%	0.02%
WRB	D	0.04%	0.19%	0.04%
WSM	C	0.06%	0.09%	0.06%
WSO	C	0.03%	0.19%	0.03%
WST	D	0.02%	0.1%	0.02%
WTRG	D	0.01%	0.11%	0.01%
WTW	B	0.07%	0.33%	0.07%
WU	C	0.04%	0.03%	0.03%
WY	C	0.09%	0.27%	0.09%
X	F	0.08%	0.1%	0.08%
XEL	B	0.12%	0.4%	0.12%
XRAY	D	0.02%	0.06%	0.02%
XYL	C	0.04%	0.37%	0.04%
YUM	B	0.08%	0.25%	0.08%
ZBH	F	0.05%	0.25%	0.05%
ZBRA	B	0.04%	0.17%	0.04%
ZION	D	0.05%	0.08%	0.05%

FNDX Overweight 280 Positions Relative to IWS

Symbol	Grade	Weight
AAPL	C	4.32%
MSFT	C	2.53%
BRK.A	C	2.26%
JPM	D	1.93%
XOM	D	1.91%
META	B	1.85%
WMT	B	1.5%
T	B	1.39%
AMZN	C	1.38%
VZ	A	1.33%
GOOGL	D	1.23%
UNH	C	1.23%
BAC	D	1.22%
WFC	D	1.09%
GOOG	D	1.07%
CVX	F	1.07%
C	C	1.05%
JNJ	C	1.0%
PG	C	0.85%
HD	B	0.79%
PFE	D	0.76%
CMCSA	C	0.74%
CSCO	B	0.74%
COST	C	0.72%
GM	C	0.69%
CVS	D	0.68%
AVGO	C	0.67%
INTC	D	0.64%
IBM	B	0.62%
ABBV	B	0.6%
LUMN	C	0.58%
GS	B	0.57%
CI	C	0.55%
PM	C	0.51%
MRK	F	0.51%
ELV	D	0.5%
ORCL	B	0.49%
AMGN	D	0.48%
QCOM	D	0.46%
PEP	D	0.45%
KO	B	0.43%
LOW	B	0.42%
COP	F	0.42%
MPC	F	0.41%
UNP	D	0.4%
LMT	A	0.4%
MMM	B	0.4%
COF	B	0.39%
CAT	B	0.39%
DIS	D	0.38%
TGT	C	0.38%
AXP	B	0.37%
NVDA	C	0.37%
MO	C	0.37%
VLO	F	0.37%
MS	B	0.36%
RTX	B	0.36%
BMY	C	0.36%
PSX	F	0.36%
GILD	B	0.35%
V	C	0.35%
MU	D	0.35%
LIN	B	0.35%
DUK	B	0.34%
HON	C	0.34%
ABT	C	0.34%
ACN	C	0.34%
MCD	B	0.34%
TXN	B	0.34%
FDX	D	0.33%
TRV	C	0.31%
F	F	0.31%
USB	C	0.3%
SO	B	0.29%
TMO	B	0.29%
NEE	B	0.29%
CB	B	0.29%
PNC	C	0.29%
AIG	D	0.28%
MA	B	0.28%
MDT	B	0.27%
HCA	B	0.26%
LLY	D	0.26%
MET	B	0.26%
PGR	C	0.26%
SBUX	C	0.26%
UPS	D	0.25%
AMAT	D	0.25%
BLK	B	0.25%
TJX	C	0.24%
TMUS	B	0.24%
MDLZ	C	0.23%
GD	C	0.23%
DE	A	0.22%
TFC	D	0.22%
CSX	C	0.21%
NOC	B	0.21%
ETN	C	0.21%
NSC	C	0.2%
EOG	D	0.2%
BKNG	B	0.2%
AEP	C	0.19%
PYPL	B	0.19%
NEM	C	0.19%
ADBE	F	0.19%
D	C	0.19%
NKE	D	0.18%
TSLA	C	0.18%
GE	C	0.18%
DHR	B	0.17%
REGN	D	0.16%
LRCX	D	0.16%
CL	C	0.16%
EMR	D	0.15%
ITW	B	0.15%
NFLX	B	0.15%
JCI	B	0.15%
MMC	C	0.15%
SPGI	C	0.15%
WM	D	0.15%
FCX	C	0.14%
ADP	C	0.14%
AMT	C	0.14%
ICE	C	0.13%
PCAR	D	0.13%
SYK	C	0.13%
BA	F	0.13%
CARR	B	0.13%
ADI	C	0.13%
PH	B	0.12%
APD	B	0.12%
KKR	B	0.12%
BX	C	0.12%
CRM	C	0.12%
SRE	B	0.12%
AON	B	0.12%
VST	B	0.12%
KHC	C	0.11%
TEL	D	0.11%
OXY	F	0.11%
BDX	D	0.11%
WELL	C	0.11%
SLB	F	0.11%
KMB	C	0.11%
KLAC	D	0.1%
MCK	F	0.1%
STX	B	0.1%
SCHW	D	0.1%
ORLY	B	0.1%
CEG	C	0.1%
INTU	D	0.1%
APH	C	0.09%
ISRG	C	0.09%
CTAS	C	0.09%
SHW	B	0.09%
TT	B	0.09%
BSX	B	0.09%
ECL	B	0.09%
AMD	C	0.09%
NXPI	D	0.08%
MCO	C	0.08%
VRTX	D	0.08%
TDG	B	0.08%
MAR	B	0.08%
CME	B	0.08%
PLD	C	0.08%
KDP	B	0.08%
ZTS	B	0.08%
EQIX	B	0.08%
RSG	D	0.07%
DVA	B	0.07%
STZ	C	0.07%
AZO	B	0.06%
TSCO	B	0.06%
TRGP	C	0.06%
PSA	C	0.06%
MSI	B	0.06%
TDS	B	0.05%
EQH	C	0.05%
ODFL	D	0.05%
MUSA	D	0.05%
GPI	B	0.05%
SFM	B	0.05%
GEV	B	0.05%
CPAY	B	0.05%
ROP	C	0.05%
FLEX	B	0.05%
FL	F	0.04%
ANET	C	0.04%
MRVL	D	0.04%
BAP	B	0.04%
MTH	C	0.04%
BAH	B	0.04%
EL	D	0.04%
CMG	D	0.04%
EW	F	0.04%
CNO	C	0.04%
UBER	C	0.04%
MRNA	F	0.04%
TMHC	B	0.04%
JXN	B	0.04%
CLX	C	0.04%
MNST	D	0.04%
VRSK	D	0.04%
ZIM	B	0.04%
IDXX	D	0.03%
FLR	D	0.03%
LPLA	D	0.03%
FTNT	B	0.03%
AER	C	0.03%
CMC	D	0.03%
CRBG	C	0.03%
EXPE	C	0.03%
PBF	F	0.03%
GT	F	0.03%
CHKP	B	0.03%
SNPS	F	0.03%
MLI	B	0.03%
CDNS	D	0.03%
LVS	C	0.03%
SLG	C	0.03%
ADSK	B	0.03%
GNW	C	0.03%
TPH	C	0.03%
LII	C	0.03%
APO	B	0.03%
BURL	C	0.03%
PANW	D	0.03%
DECK	C	0.03%
SANM	D	0.03%
CCEP	C	0.03%
KBH	C	0.03%
IT	C	0.03%
HBI	A	0.03%
UFPI	C	0.03%
BCC	C	0.03%
DAN	D	0.02%
UNFI	B	0.02%
OI	D	0.02%
ICLR	F	0.02%
CNX	B	0.02%
BECN	F	0.02%
SM	F	0.02%
WERN	C	0.02%
LULU	D	0.02%
REZI	D	0.02%
CYH	C	0.02%
HUBG	C	0.02%
TGNA	C	0.02%
POR	B	0.02%
MUR	F	0.02%
TPX	B	0.02%
ASGN	D	0.02%
RUSHA	C	0.02%
ASO	D	0.02%
NAVI	D	0.02%
POOL	C	0.02%
XRX	D	0.02%
BTU	C	0.02%
QRTEA	F	0.02%
ABG	D	0.02%
CPRT	D	0.02%
ABM	D	0.02%
ALV	F	0.02%
NSIT	C	0.02%
GDDY	C	0.02%
HTZ	F	0.01%
MATX	B	0.01%
DELL	C	0.01%
VSH	F	0.01%
ANDE	D	0.01%
ARCH	D	0.01%
DK	F	0.01%
AEO	D	0.01%
MMS	B	0.01%
ADNT	D	0.01%
NOW	C	0.01%
LILAK	D	0.01%
SPTN	C	0.01%
ODP	F	0.01%

FNDX Underweight 268 Positions Relative to IWS

Symbol	Grade	Weight
FERG	D	-0.42%
CSGP	D	-0.35%
RCL	B	-0.3%
MSTR	C	-0.24%
COO	C	-0.24%
LH	D	-0.21%
ZM	C	-0.2%
UAL	B	-0.19%
VLTO	B	-0.17%
HOOD	C	-0.17%
RVTY	B	-0.17%
UTHR	B	-0.17%
IBKR	B	-0.16%
GEN	A	-0.16%
ELS	D	-0.15%
BMRN	F	-0.15%
AMH	D	-0.15%
RNR	B	-0.15%
CUBE	C	-0.14%
TECH	C	-0.14%
CVNA	B	-0.14%
CLH	C	-0.14%
FDS	C	-0.13%
FWONK	C	-0.12%
AFRM	D	-0.12%
NLY	B	-0.12%
Z	C	-0.12%
NTNX	D	-0.12%
FBIN	B	-0.12%
RPRX	C	-0.12%
REXR	C	-0.12%
MTCH	C	-0.11%
FRT	C	-0.11%
RGLD	C	-0.11%
WAL	B	-0.11%
MKTX	D	-0.11%
TTEK	C	-0.11%
RIVN	F	-0.11%
INCY	C	-0.11%
OHI	C	-0.11%
WWD	C	-0.11%
CHRD	F	-0.1%
TWLO	C	-0.1%
NNN	B	-0.1%
NYT	B	-0.1%
EGP	C	-0.1%
SF	B	-0.1%
WYNN	C	-0.09%
BWXT	A	-0.09%
HLI	C	-0.09%
COKE	C	-0.09%
DTM	C	-0.09%
PNFP	C	-0.09%
WEX	C	-0.09%
AGNC	B	-0.09%
EXAS	D	-0.09%
GWRE	B	-0.09%
ATI	C	-0.09%
GMED	D	-0.09%
BRBR	B	-0.09%
DAY	D	-0.09%
FCN	C	-0.09%
FND	C	-0.09%
APG	F	-0.09%
COLD	D	-0.09%
PTC	C	-0.09%
GME	D	-0.09%
ROKU	D	-0.09%
WBS	C	-0.09%
TKO	A	-0.09%
RBC	B	-0.09%
TW	B	-0.09%
CRUS	D	-0.08%
OKTA	F	-0.08%
CFR	C	-0.08%
MSA	D	-0.08%
CROX	C	-0.08%
BFAM	C	-0.08%
RGEN	F	-0.08%
HR	B	-0.08%
ELAN	D	-0.08%
ACHC	D	-0.08%
SOFI	D	-0.08%
FICO	B	-0.08%
STAG	D	-0.08%
WTFC	C	-0.08%
PR	F	-0.08%
KEX	C	-0.08%
RRC	D	-0.08%
SSD	C	-0.08%
ONTO	C	-0.08%
CART	C	-0.08%
FR	C	-0.08%
ADC	C	-0.08%
CBSH	D	-0.08%
CR	B	-0.08%
H	B	-0.07%
ESI	C	-0.07%
MTSI	C	-0.07%
RLI	B	-0.07%
ESAB	C	-0.07%
AXS	B	-0.07%
OLLI	C	-0.07%
SIRI	C	-0.07%
FLS	C	-0.07%
AZPN	B	-0.07%
LFUS	C	-0.07%
BIO	C	-0.07%
CGNX	F	-0.07%
PB	D	-0.07%
MAT	D	-0.07%
WMS	D	-0.07%
OLED	D	-0.06%
FOX	B	-0.06%
W	C	-0.06%
CCCS	D	-0.06%
LINE	F	-0.06%
HXL	F	-0.06%
LBRDK	C	-0.06%
FNB	D	-0.06%
ROIV	D	-0.06%
VNT	F	-0.06%
IDA	B	-0.06%
WSC	D	-0.06%
COIN	F	-0.06%
COLB	B	-0.06%
WH	B	-0.06%
SN	B	-0.06%
S	D	-0.06%
VMI	C	-0.06%
MTDR	F	-0.06%
SRCL	B	-0.06%
RITM	D	-0.06%
IAC	C	-0.05%
LITE	B	-0.05%
RH	C	-0.05%
BILL	D	-0.05%
SITE	D	-0.05%
AGO	D	-0.05%
DLB	D	-0.05%
SLGN	B	-0.05%
EEFT	F	-0.05%
WTM	F	-0.05%
ASH	F	-0.05%
CUZ	C	-0.05%
BYD	C	-0.05%
FRPT	C	-0.05%
PSN	B	-0.05%
OZK	F	-0.05%
DOCS	B	-0.05%
KRC	C	-0.05%
RYN	C	-0.05%
SAIA	D	-0.05%
IRDM	C	-0.04%
AMED	D	-0.04%
AM	B	-0.04%
ZG	C	-0.04%
PAYC	D	-0.04%
SMG	B	-0.04%
ZI	D	-0.04%
NWS	D	-0.04%
NVST	D	-0.04%
VNOM	D	-0.04%
NSA	C	-0.04%
PLNT	C	-0.04%
SPR	D	-0.04%
LBTYK	B	-0.04%
DNB	D	-0.04%
U	D	-0.04%
LBTYA	B	-0.04%
COTY	D	-0.04%
HIW	C	-0.04%
MSGS	B	-0.04%
AMKR	F	-0.04%
GTES	C	-0.04%
NEU	D	-0.04%
EPR	C	-0.04%
KMPR	D	-0.04%
TYL	C	-0.04%
TPG	C	-0.04%
AWI	B	-0.04%
ALNY	C	-0.04%
GFS	F	-0.04%
CIVI	F	-0.04%
BROS	D	-0.03%
ENOV	F	-0.03%
YETI	D	-0.03%
HHH	C	-0.03%
BOKF	C	-0.03%
CWEN	A	-0.03%
QDEL	D	-0.03%
SHC	C	-0.03%
VIRT	C	-0.03%
SPB	B	-0.03%
MASI	C	-0.03%
AGR	C	-0.03%
RKT	C	-0.03%
BRKR	D	-0.03%
AZTA	F	-0.03%
BHF	F	-0.03%
COLM	C	-0.03%
ALGM	D	-0.03%
CLVT	D	-0.03%
LOPE	D	-0.03%
CNM	F	-0.03%
CXT	F	-0.03%
FHB	D	-0.03%
LCID	C	-0.03%
LYFT	D	-0.02%
UAA	C	-0.02%
TRIP	F	-0.02%
WEN	C	-0.02%
UA	C	-0.02%
GO	F	-0.02%
PPC	D	-0.02%
INFA	D	-0.02%
REYN	C	-0.02%
MP	C	-0.02%
BIRK	F	-0.02%
FTRE	F	-0.02%
GLOB	D	-0.02%
SAM	D	-0.02%
PSTG	F	-0.02%
IPGP	D	-0.02%
LLYVK	B	-0.02%
QS	F	-0.02%
VSTS	D	-0.02%
AZEK	C	-0.02%
PINC	D	-0.02%
HAYW	C	-0.02%
ADT	D	-0.02%
ETSY	D	-0.02%
RCM	C	-0.02%
IONS	F	-0.01%
UI	B	-0.01%
PLTK	C	-0.01%
CHH	B	-0.01%
CACC	F	-0.01%
TFSL	D	-0.01%
LBRDA	C	-0.01%
PATH	D	-0.01%
LLYVA	B	-0.01%
TXG	D	-0.01%
AS	C	-0.01%
PYCR	D	-0.01%
SEB	D	-0.01%
LSCC	D	-0.01%
NCNO	F	-0.01%
WOLF	F	-0.01%
CWEN	A	-0.01%
HCP	A	-0.01%
ALAB	C	-0.01%
FWONA	C	-0.01%
DV	F	-0.01%
FIVE	D	-0.01%
CNA	D	-0.01%
DDS	D	-0.01%
CERT	F	-0.01%
EXEL	C	-0.01%
SNDR	B	-0.01%
SEG	F	-0.0%
LOAR	C	-0.0%
PARAA	D	-0.0%
DJT	F	-0.0%
NFE	F	-0.0%
UWMC	D	-0.0%
LAZ	B	-0.0%
GRAL	F	-0.0%