FNDX vs. SPXN ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to ProShares S&P 500 Ex-Financials ETF (SPXN)

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

$24.83

Average Daily Volume

1,186,729

Number of Holdings ^*

721

* may have additional holdings in another (foreign) market

SPXN

ProShares S&P 500 Ex-Financials ETF

SPXN Description

The investment seeks investment results, before fees and expenses that track the performance of the S&P 500® Ex-Financials Index (the "index"). Under normal circumstances, the fund will invest at least 80% of its total assets in component securities. The index seeks to provide exposure to the companies of the S&P 500® Index (the "S&P 500®") with the exception of those companies included in the Financials Sector.

Grade (RS Rating)

Last Trade

$63.61

Average Daily Volume

1,537

Number of Holdings ^*

396

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	SPXN
30 Days	3.67%	2.53%
60 Days	4.58%	3.71%
90 Days	6.53%	5.17%
12 Months	29.67%	30.71%

370 Overlapping Holdings

	Symbol	Grade	Weight in FNDX	Weight in SPXN	Overlap
	A	D	0.05%	0.09%	0.05%
	AAPL	C	4.35%	8.28%	4.35%
	ABBV	D	0.49%	0.7%	0.49%
	ABT	B	0.34%	0.49%	0.34%
	ACN	C	0.36%	0.53%	0.36%
	ADBE	C	0.2%	0.53%	0.2%
	ADI	D	0.13%	0.25%	0.13%
	ADM	D	0.21%	0.06%	0.06%
	ADP	B	0.15%	0.29%	0.15%
	ADSK	A	0.03%	0.16%	0.03%
	AEE	A	0.07%	0.06%	0.06%
	AEP	D	0.16%	0.12%	0.12%
	AES	F	0.05%	0.02%	0.02%
	AKAM	D	0.03%	0.03%	0.03%
	ALB	C	0.03%	0.03%	0.03%
	ALGN	D	0.02%	0.04%	0.02%
	ALLE	D	0.01%	0.03%	0.01%
	AMAT	F	0.24%	0.34%	0.24%
	AMCR	D	0.03%	0.04%	0.03%
	AMD	F	0.09%	0.54%	0.09%
	AME	A	0.05%	0.11%	0.05%
	AMGN	D	0.39%	0.36%	0.36%
	AMZN	C	1.56%	4.5%	1.56%
	ANET	C	0.04%	0.23%	0.04%
	ANSS	B	0.02%	0.07%	0.02%
	AOS	F	0.02%	0.02%	0.02%
	APA	D	0.03%	0.02%	0.02%
	APD	A	0.13%	0.17%	0.13%
	APH	A	0.09%	0.2%	0.09%
	APTV	D	0.02%	0.03%	0.02%
	ATO	A	0.04%	0.05%	0.04%
	AVGO	D	0.61%	1.84%	0.61%
	AVY	D	0.04%	0.04%	0.04%
	AWK	D	0.04%	0.06%	0.04%
	AZO	C	0.06%	0.13%	0.06%
	BA	F	0.11%	0.25%	0.11%
	BALL	D	0.06%	0.04%	0.04%
	BAX	D	0.07%	0.04%	0.04%
	BBY	D	0.16%	0.04%	0.04%
	BDX	F	0.11%	0.16%	0.11%
	BG	F	0.1%	0.03%	0.03%
	BIIB	F	0.09%	0.05%	0.05%
	BKNG	A	0.24%	0.4%	0.24%
	BKR	B	0.16%	0.1%	0.1%
	BLDR	D	0.06%	0.05%	0.05%
	BMY	B	0.45%	0.28%	0.28%
	BR	A	0.03%	0.06%	0.03%
	BSX	B	0.09%	0.32%	0.09%
	BWA	D	0.05%	0.02%	0.02%
	CAG	D	0.06%	0.03%	0.03%
	CAH	B	0.07%	0.07%	0.07%
	CARR	D	0.12%	0.15%	0.12%
	CAT	B	0.41%	0.45%	0.41%
	CCL	B	0.06%	0.06%	0.06%
	CDNS	B	0.03%	0.19%	0.03%
	CDW	F	0.04%	0.06%	0.04%
	CE	F	0.03%	0.02%	0.02%
	CEG	D	0.1%	0.17%	0.1%
	CF	B	0.07%	0.04%	0.04%
	CHD	B	0.04%	0.06%	0.04%
	CHRW	C	0.08%	0.03%	0.03%
	CHTR	C	0.35%	0.09%	0.09%
	CI	F	0.48%	0.22%	0.22%
	CL	D	0.13%	0.18%	0.13%
	CLX	B	0.04%	0.05%	0.04%
	CMCSA	B	0.83%	0.4%	0.4%
	CMG	B	0.04%	0.19%	0.04%
	CMI	A	0.19%	0.12%	0.12%
	CMS	C	0.06%	0.05%	0.05%
	CNC	D	0.19%	0.07%	0.07%
	CNP	B	0.06%	0.05%	0.05%
	COP	C	0.48%	0.32%	0.32%
	COR	B	0.02%	0.1%	0.02%
	COST	B	0.66%	0.97%	0.66%
	CPB	D	0.03%	0.02%	0.02%
	CPRT	A	0.03%	0.12%	0.03%
	CRL	C	0.01%	0.02%	0.01%
	CRM	B	0.15%	0.75%	0.15%
	CSCO	B	0.82%	0.55%	0.55%
	CSX	B	0.22%	0.16%	0.16%
	CTAS	B	0.08%	0.18%	0.08%
	CTLT	B	0.02%	0.03%	0.02%
	CTRA	B	0.03%	0.05%	0.03%
	CTSH	B	0.19%	0.09%	0.09%
	CTVA	C	0.09%	0.09%	0.09%
	CVS	D	0.68%	0.17%	0.17%
	CVX	A	1.25%	0.65%	0.65%
	CZR	F	0.02%	0.02%	0.02%
	D	C	0.17%	0.12%	0.12%
	DAL	C	0.03%	0.1%	0.03%
	DD	D	0.17%	0.08%	0.08%
	DE	A	0.23%	0.25%	0.23%
	DECK	A	0.03%	0.06%	0.03%
	DELL	C	0.03%	0.09%	0.03%
	DG	F	0.08%	0.04%	0.04%
	DGX	A	0.07%	0.04%	0.04%
	DHI	D	0.16%	0.11%	0.11%
	DHR	F	0.15%	0.35%	0.15%
	DIS	B	0.45%	0.49%	0.45%
	DLTR	F	0.05%	0.03%	0.03%
	DOV	A	0.06%	0.07%	0.06%
	DOW	F	0.18%	0.07%	0.07%
	DPZ	C	0.03%	0.04%	0.03%
	DRI	B	0.05%	0.05%	0.05%
	DTE	C	0.07%	0.06%	0.06%
	DUK	C	0.3%	0.21%	0.21%
	DVA	B	0.06%	0.02%	0.02%
	DVN	F	0.09%	0.06%	0.06%
	EA	A	0.09%	0.09%	0.09%
	EBAY	D	0.17%	0.07%	0.07%
	ECL	D	0.08%	0.15%	0.08%
	ED	D	0.12%	0.08%	0.08%
	EFX	F	0.03%	0.07%	0.03%
	EIX	B	0.1%	0.08%	0.08%
	EL	F	0.03%	0.04%	0.03%
	ELV	F	0.36%	0.22%	0.22%
	EMN	D	0.08%	0.03%	0.03%
	EMR	A	0.17%	0.18%	0.17%
	EOG	A	0.23%	0.19%	0.19%
	EPAM	C	0.02%	0.03%	0.02%
	EQT	B	0.04%	0.06%	0.04%
	ES	D	0.08%	0.05%	0.05%
	ETN	A	0.23%	0.34%	0.23%
	ETR	B	0.12%	0.08%	0.08%
	EVRG	A	0.07%	0.03%	0.03%
	EW	C	0.04%	0.1%	0.04%
	EXC	C	0.17%	0.09%	0.09%
	EXPD	D	0.04%	0.04%	0.04%
	EXPE	B	0.04%	0.05%	0.04%
	F	C	0.33%	0.1%	0.1%
	FANG	D	0.05%	0.08%	0.05%
	FAST	B	0.07%	0.11%	0.07%
	FCX	D	0.14%	0.15%	0.14%
	FDX	B	0.32%	0.16%	0.16%
	FE	C	0.09%	0.05%	0.05%
	FFIV	B	0.03%	0.03%	0.03%
	FMC	D	0.03%	0.02%	0.02%
	FOXA	B	0.1%	0.02%	0.02%
	FSLR	F	0.01%	0.05%	0.01%
	FTNT	C	0.03%	0.14%	0.03%
	FTV	C	0.03%	0.06%	0.03%
	GD	F	0.21%	0.18%	0.18%
	GDDY	A	0.03%	0.06%	0.03%
	GE	D	0.15%	0.46%	0.15%
	GEHC	F	0.09%	0.09%	0.09%
	GEN	B	0.04%	0.04%	0.04%
	GEV	B	0.04%	0.21%	0.04%
	GILD	C	0.37%	0.26%	0.26%
	GIS	D	0.11%	0.08%	0.08%
	GLW	B	0.14%	0.09%	0.09%
	GM	B	0.79%	0.15%	0.15%
	GNRC	B	0.02%	0.03%	0.02%
	GOOG	C	1.14%	2.03%	1.14%
	GOOGL	C	1.33%	2.45%	1.33%
	GPC	D	0.05%	0.04%	0.04%
	GRMN	B	0.03%	0.08%	0.03%
	GWW	B	0.08%	0.13%	0.08%
	HAL	C	0.06%	0.06%	0.06%
	HAS	D	0.03%	0.02%	0.02%
	HCA	F	0.2%	0.15%	0.15%
	HD	A	0.8%	0.97%	0.8%
	HES	B	0.06%	0.1%	0.06%
	HII	D	0.03%	0.02%	0.02%
	HLT	A	0.06%	0.15%	0.06%
	HOLX	D	0.04%	0.04%	0.04%
	HON	B	0.37%	0.36%	0.36%
	HPE	B	0.21%	0.07%	0.07%
	HPQ	B	0.21%	0.09%	0.09%
	HRL	D	0.03%	0.02%	0.02%
	HSIC	B	0.04%	0.02%	0.02%
	HSY	F	0.04%	0.06%	0.04%
	HUBB	B	0.03%	0.06%	0.03%
	HUM	C	0.19%	0.08%	0.08%
	HWM	A	0.07%	0.11%	0.07%
	IBM	C	0.54%	0.46%	0.46%
	IDXX	F	0.02%	0.08%	0.02%
	IEX	B	0.03%	0.04%	0.03%
	IFF	D	0.05%	0.05%	0.05%
	INTC	D	0.89%	0.25%	0.25%
	INTU	C	0.11%	0.46%	0.11%
	IP	B	0.17%	0.05%	0.05%
	IPG	D	0.04%	0.02%	0.02%
	IQV	D	0.07%	0.08%	0.07%
	IR	B	0.03%	0.1%	0.03%
	ISRG	A	0.09%	0.45%	0.09%
	IT	C	0.03%	0.1%	0.03%
	ITW	B	0.15%	0.17%	0.15%
	J	F	0.05%	0.04%	0.04%
	JBHT	C	0.05%	0.04%	0.04%
	JBL	B	0.06%	0.03%	0.03%
	JCI	C	0.16%	0.13%	0.13%
	JNJ	D	0.89%	0.89%	0.89%
	JNPR	F	0.05%	0.03%	0.03%
	K	A	0.07%	0.05%	0.05%
	KDP	D	0.07%	0.08%	0.07%
	KEYS	A	0.04%	0.06%	0.04%
	KHC	F	0.09%	0.07%	0.07%
	KLAC	D	0.08%	0.2%	0.08%
	KMB	D	0.1%	0.11%	0.1%
	KMI	A	0.23%	0.13%	0.13%
	KMX	B	0.06%	0.03%	0.03%
	KO	D	0.35%	0.57%	0.35%
	KR	B	0.3%	0.09%	0.09%
	KVUE	A	0.05%	0.11%	0.05%
	LDOS	C	0.07%	0.05%	0.05%
	LEN	D	0.16%	0.1%	0.1%
	LH	C	0.09%	0.05%	0.05%
	LHX	C	0.16%	0.11%	0.11%
	LIN	D	0.33%	0.52%	0.33%
	LKQ	D	0.05%	0.02%	0.02%
	LLY	F	0.2%	1.37%	0.2%
	LMT	D	0.37%	0.27%	0.27%
	LNT	A	0.04%	0.04%	0.04%
	LOW	D	0.43%	0.37%	0.37%
	LRCX	F	0.15%	0.22%	0.15%
	LULU	C	0.01%	0.08%	0.01%
	LUV	C	0.02%	0.05%	0.02%
	LVS	C	0.04%	0.04%	0.04%
	LW	C	0.02%	0.03%	0.02%
	LYB	F	0.14%	0.05%	0.05%
	MAR	B	0.09%	0.16%	0.09%
	MAS	D	0.05%	0.04%	0.04%
	MCD	D	0.34%	0.5%	0.34%
	MCHP	D	0.05%	0.08%	0.05%
	MCK	B	0.11%	0.19%	0.11%
	MDLZ	F	0.2%	0.2%	0.2%
	MDT	D	0.16%	0.27%	0.16%
	META	D	1.79%	2.89%	1.79%
	MGM	D	0.06%	0.02%	0.02%
	MHK	D	0.06%	0.02%	0.02%
	MKC	D	0.03%	0.04%	0.03%
	MLM	B	0.04%	0.09%	0.04%
	MMM	D	0.35%	0.17%	0.17%
	MNST	C	0.05%	0.09%	0.05%
	MO	A	0.37%	0.23%	0.23%
	MOH	F	0.05%	0.04%	0.04%
	MOS	F	0.06%	0.02%	0.02%
	MPC	D	0.4%	0.13%	0.13%
	MRK	F	0.42%	0.58%	0.42%
	MRNA	F	0.03%	0.03%	0.03%
	MRO	B	0.09%	0.04%	0.04%
	MSFT	F	2.43%	7.38%	2.43%
	MSI	B	0.07%	0.2%	0.07%
	MTD	D	0.03%	0.06%	0.03%
	MU	D	0.38%	0.26%	0.26%
	NDSN	B	0.02%	0.03%	0.02%
	NEE	D	0.24%	0.37%	0.24%
	NEM	D	0.13%	0.12%	0.12%
	NFLX	A	0.17%	0.87%	0.17%
	NI	A	0.05%	0.04%	0.04%
	NKE	D	0.19%	0.21%	0.19%
	NOC	D	0.2%	0.16%	0.16%
	NOW	A	0.01%	0.5%	0.01%
	NRG	B	0.1%	0.05%	0.05%
	NSC	B	0.21%	0.14%	0.14%
	NTAP	C	0.07%	0.06%	0.06%
	NUE	C	0.19%	0.08%	0.08%
	NVDA	C	0.4%	8.23%	0.4%
	NVR	D	0.08%	0.06%	0.06%
	NWSA	B	0.04%	0.03%	0.03%
	NXPI	D	0.05%	0.13%	0.05%
	ODFL	B	0.06%	0.1%	0.06%
	OKE	A	0.14%	0.16%	0.14%
	OMC	C	0.08%	0.05%	0.05%
	ON	D	0.04%	0.07%	0.04%
	ORCL	B	0.5%	0.71%	0.5%
	ORLY	B	0.11%	0.17%	0.11%
	OTIS	C	0.05%	0.1%	0.05%
	OXY	D	0.11%	0.08%	0.08%
	PANW	C	0.03%	0.3%	0.03%
	PARA	C	0.11%	0.01%	0.01%
	PAYX	C	0.06%	0.11%	0.06%
	PCAR	B	0.15%	0.14%	0.14%
	PCG	A	0.03%	0.11%	0.03%
	PEG	A	0.11%	0.11%	0.11%
	PEP	F	0.41%	0.52%	0.41%
	PFE	D	0.68%	0.34%	0.34%
	PG	A	0.77%	0.96%	0.77%
	PH	A	0.13%	0.21%	0.13%
	PHM	D	0.11%	0.06%	0.06%
	PKG	A	0.07%	0.05%	0.05%
	PM	B	0.48%	0.49%	0.48%
	PNR	A	0.04%	0.04%	0.04%
	PNW	B	0.04%	0.02%	0.02%
	POOL	C	0.02%	0.03%	0.02%
	PPG	F	0.08%	0.07%	0.07%
	PPL	B	0.11%	0.06%	0.06%
	PSX	C	0.36%	0.13%	0.13%
	PWR	A	0.07%	0.12%	0.07%
	QCOM	F	0.43%	0.44%	0.43%
	QRVO	F	0.03%	0.02%	0.02%
	REGN	F	0.1%	0.19%	0.1%
	RL	B	0.03%	0.02%	0.02%
	RMD	C	0.03%	0.08%	0.03%
	ROK	B	0.06%	0.08%	0.06%
	ROP	B	0.05%	0.14%	0.05%
	ROST	C	0.07%	0.11%	0.07%
	RSG	A	0.06%	0.1%	0.06%
	RTX	C	0.34%	0.38%	0.34%
	RVTY	F	0.03%	0.03%	0.03%
	SBUX	A	0.28%	0.27%	0.27%
	SHW	A	0.08%	0.21%	0.08%
	SJM	D	0.05%	0.03%	0.03%
	SLB	C	0.12%	0.15%	0.12%
	SNA	A	0.06%	0.05%	0.05%
	SNPS	B	0.03%	0.19%	0.03%
	SO	D	0.26%	0.23%	0.23%
	SOLV	C	0.02%	0.02%	0.02%
	SRE	A	0.13%	0.14%	0.13%
	STE	F	0.03%	0.05%	0.03%
	STLD	B	0.11%	0.05%	0.05%
	STX	D	0.09%	0.05%	0.05%
	STZ	D	0.07%	0.09%	0.07%
	SW	A	0.09%	0.06%	0.06%
	SWK	D	0.07%	0.03%	0.03%
	SWKS	F	0.04%	0.03%	0.03%
	SYK	C	0.13%	0.32%	0.13%
	SYY	B	0.1%	0.09%	0.09%
	T	A	1.27%	0.39%	0.39%
	TAP	C	0.05%	0.03%	0.03%
	TDG	D	0.06%	0.17%	0.06%
	TDY	B	0.03%	0.05%	0.03%
	TER	D	0.04%	0.04%	0.04%
	TFX	F	0.02%	0.02%	0.02%
	TGT	F	0.38%	0.17%	0.17%
	TJX	A	0.22%	0.32%	0.22%
	TMO	F	0.25%	0.46%	0.25%
	TMUS	B	0.25%	0.28%	0.25%
	TPR	B	0.05%	0.03%	0.03%
	TRGP	B	0.07%	0.1%	0.07%
	TRMB	B	0.03%	0.04%	0.03%
	TSCO	D	0.06%	0.07%	0.06%
	TSLA	B	0.28%	2.25%	0.28%
	TSN	B	0.2%	0.04%	0.04%
	TT	A	0.06%	0.22%	0.06%
	TTWO	A	0.03%	0.07%	0.03%
	TXN	C	0.34%	0.45%	0.34%
	TXT	D	0.06%	0.04%	0.04%
	UBER	D	0.04%	0.35%	0.04%
	UHS	D	0.08%	0.03%	0.03%
	ULTA	F	0.03%	0.04%	0.03%
	UNH	C	1.22%	1.3%	1.22%
	UNP	C	0.35%	0.34%	0.34%
	UPS	C	0.28%	0.24%	0.24%
	URI	B	0.13%	0.13%	0.13%
	VLO	C	0.39%	0.11%	0.11%
	VMC	B	0.05%	0.09%	0.05%
	VRSK	A	0.04%	0.1%	0.04%
	VRSN	F	0.01%	0.04%	0.01%
	VRTX	F	0.07%	0.29%	0.07%
	VST	B	0.16%	0.12%	0.12%
	VTRS	A	0.1%	0.04%	0.04%
	VZ	C	1.13%	0.42%	0.42%
	WAB	B	0.06%	0.08%	0.06%
	WAT	B	0.04%	0.05%	0.04%
	WBA	F	0.17%	0.01%	0.01%
	WBD	C	0.08%	0.05%	0.05%
	WDC	D	0.12%	0.05%	0.05%
	WEC	A	0.08%	0.07%	0.07%
	WM	A	0.15%	0.19%	0.15%
	WMB	A	0.17%	0.17%	0.17%
	WMT	A	1.47%	0.87%	0.87%
	WST	C	0.02%	0.05%	0.02%
	XEL	A	0.12%	0.09%	0.09%
	XOM	B	1.99%	1.28%	1.28%
	XYL	D	0.03%	0.07%	0.03%
	YUM	B	0.08%	0.09%	0.08%
	ZBH	C	0.05%	0.06%	0.05%
	ZBRA	B	0.04%	0.05%	0.04%
	ZTS	D	0.07%	0.19%	0.07%

FNDX Overweight 351 Positions Relative to SPXN

	Symbol	Grade	Weight
	BRK.A	B	2.17%
	JPM	A	2.03%
	WFC	A	1.35%
	BAC	A	1.3%
	C	A	1.1%
	LUMN	C	0.65%
	GS	A	0.62%
	COF	B	0.48%
	MS	A	0.46%
	AXP	A	0.36%
	V	A	0.36%
	SYF	B	0.34%
	USB	A	0.32%
	TRV	B	0.31%
	PNC	B	0.3%
	MA	C	0.29%
	BLK	C	0.28%
	AIG	B	0.28%
	ALL	A	0.27%
	DFS	B	0.26%
	MET	A	0.26%
	CB	C	0.26%
	BK	A	0.26%
	TFC	A	0.23%
	PGR	A	0.23%
	PYPL	B	0.22%
	PRU	A	0.22%
	AFL	B	0.21%
	AMP	A	0.15%
	SPGI	C	0.15%
	MMC	B	0.14%
	HIG	B	0.14%
	SCHW	B	0.13%
	FITB	A	0.13%
	TROW	B	0.13%
	BX	A	0.13%
	AON	A	0.13%
	CBRE	B	0.13%
	FI	A	0.13%
	FIS	C	0.12%
	KKR	A	0.12%
	MTB	A	0.11%
	ICE	C	0.11%
	AMT	D	0.11%
	ALLY	C	0.1%
	STT	A	0.1%
	KEY	B	0.1%
	WELL	A	0.1%
	SPG	B	0.1%
	CFG	B	0.1%
	RF	A	0.09%
	GPN	B	0.09%
	RS	B	0.09%
	PFG	D	0.09%
	WY	D	0.09%
	CCI	D	0.09%
	ARW	D	0.08%
	HBAN	A	0.08%
	NTRS	A	0.08%
	USFD	A	0.08%
	VTR	C	0.08%
	WHR	B	0.08%
	CME	A	0.08%
	WKC	D	0.08%
	DLR	B	0.08%
	EQIX	A	0.08%
	JLL	D	0.08%
	OC	A	0.07%
	VFC	C	0.07%
	CMA	A	0.07%
	WTW	B	0.07%
	THC	D	0.07%
	MCO	B	0.07%
	R	B	0.07%
	PLD	D	0.07%
	CINF	A	0.07%
	X	C	0.07%
	LAD	A	0.07%
	AVT	C	0.07%
	OVV	B	0.06%
	TOL	B	0.06%
	M	D	0.06%
	CPAY	A	0.06%
	JEF	A	0.06%
	UNM	A	0.06%
	AA	B	0.06%
	ZION	B	0.06%
	OMF	A	0.06%
	LNG	B	0.06%
	FLEX	A	0.06%
	IRM	D	0.06%
	PFGC	B	0.06%
	EME	C	0.06%
	FNF	B	0.06%
	KSS	F	0.06%
	ACM	A	0.05%
	VNO	B	0.05%
	AFG	A	0.05%
	INGR	B	0.05%
	ORI	A	0.05%
	MKL	A	0.05%
	CSL	C	0.05%
	IVZ	B	0.05%
	L	A	0.05%
	AJG	B	0.05%
	AN	C	0.05%
	BXP	D	0.05%
	KD	B	0.05%
	AVB	B	0.05%
	DXC	B	0.05%
	ALSN	B	0.05%
	LEA	D	0.05%
	EQH	B	0.05%
	TDS	B	0.05%
	EQR	B	0.05%
	GPI	A	0.05%
	CASY	A	0.05%
	DINO	D	0.05%
	SFM	A	0.05%
	RJF	A	0.05%
	BFH	B	0.05%
	PSA	D	0.05%
	LNC	B	0.05%
	O	D	0.04%
	FBIN	D	0.04%
	LPX	B	0.04%
	BCC	B	0.04%
	GAP	C	0.04%
	SSNC	B	0.04%
	OSK	B	0.04%
	AMG	B	0.04%
	ZIM	C	0.04%
	UFPI	B	0.04%
	FYBR	D	0.04%
	RPM	A	0.04%
	CNO	A	0.04%
	HST	C	0.04%
	DOX	D	0.04%
	CRBG	B	0.04%
	SLM	A	0.04%
	TMHC	B	0.04%
	CCK	C	0.04%
	DKS	C	0.04%
	GT	C	0.04%
	RGA	A	0.04%
	RHI	B	0.04%
	FAF	A	0.04%
	MUSA	A	0.04%
	BERY	B	0.04%
	LPLA	A	0.04%
	PVH	C	0.04%
	BEN	C	0.04%
	AYI	B	0.04%
	WCC	B	0.04%
	THO	B	0.04%
	KNX	B	0.04%
	WSM	B	0.04%
	EVR	B	0.04%
	OGN	D	0.04%
	JXN	C	0.04%
	MAN	D	0.04%
	MRVL	B	0.04%
	UGI	A	0.04%
	EXP	A	0.03%
	SEE	C	0.03%
	THG	A	0.03%
	LSTR	D	0.03%
	PRI	A	0.03%
	INVH	D	0.03%
	AR	B	0.03%
	SCI	B	0.03%
	ACI	C	0.03%
	ACGL	D	0.03%
	GNTX	C	0.03%
	AAP	C	0.03%
	TRU	D	0.03%
	BTU	B	0.03%
	SQ	B	0.03%
	ITT	A	0.03%
	BBWI	D	0.03%
	KBH	D	0.03%
	BURL	A	0.03%
	ILMN	D	0.03%
	CW	B	0.03%
	TPH	D	0.03%
	LII	A	0.03%
	G	B	0.03%
	FLR	B	0.03%
	SNX	C	0.03%
	BC	C	0.03%
	APO	B	0.03%
	ABG	B	0.03%
	SNV	B	0.03%
	ARE	D	0.03%
	SEIC	B	0.03%
	MSCI	C	0.03%
	KIM	A	0.03%
	VOYA	B	0.03%
	ARMK	B	0.03%
	AIZ	A	0.03%
	CAR	C	0.03%
	OGE	B	0.03%
	GPK	C	0.03%
	EXR	D	0.03%
	FL	F	0.03%
	RRX	B	0.03%
	AGCO	D	0.03%
	CACI	D	0.03%
	ESS	B	0.03%
	MTH	D	0.03%
	JHG	A	0.03%
	CLF	F	0.03%
	EWBC	A	0.03%
	NDAQ	A	0.03%
	WU	D	0.03%
	CIEN	B	0.03%
	GNW	A	0.03%
	NXST	C	0.03%
	MAA	B	0.03%
	CG	A	0.03%
	HUN	F	0.03%
	FHN	A	0.03%
	CMC	B	0.03%
	DOC	D	0.03%
	OLN	D	0.03%
	BAH	F	0.03%
	WSO	A	0.03%
	PBF	D	0.03%
	MTZ	B	0.03%
	WRB	A	0.03%
	SANM	B	0.03%
	NWL	B	0.03%
	HBI	B	0.03%
	GL	B	0.03%
	MLI	C	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	C	0.02%
	ADNT	F	0.02%
	FLO	D	0.02%
	MPW	F	0.02%
	MATX	C	0.02%
	LEG	F	0.02%
	BPOP	B	0.02%
	CHKP	D	0.02%
	ARCH	B	0.02%
	TKR	D	0.02%
	MIDD	C	0.02%
	AER	B	0.02%
	NSIT	F	0.02%
	KBR	F	0.02%
	POR	C	0.02%
	MKSI	C	0.02%
	VAC	B	0.02%
	TTC	D	0.02%
	UHAL	D	0.02%
	XRX	F	0.02%
	WPC	D	0.02%
	ASO	F	0.02%
	GLPI	C	0.02%
	WERN	C	0.02%
	OI	C	0.02%
	POST	C	0.02%
	NFG	A	0.02%
	ASGN	F	0.02%
	SBAC	D	0.02%
	NAVI	C	0.02%
	SM	B	0.02%
	CCEP	C	0.02%
	LECO	B	0.02%
	ST	F	0.02%
	AL	B	0.02%
	MUR	D	0.02%
	TPX	B	0.02%
	PII	D	0.02%
	STWD	C	0.02%
	PAG	B	0.02%
	HUBG	A	0.02%
	SLG	B	0.02%
	GGG	B	0.02%
	GXO	B	0.02%
	PENN	C	0.02%
	JKHY	D	0.02%
	CPT	B	0.02%
	HOG	D	0.02%
	NOV	C	0.02%
	DCI	B	0.02%
	FCNCA	A	0.02%
	NVT	B	0.02%
	AVTR	F	0.02%
	BECN	B	0.02%
	SKX	D	0.02%
	CC	C	0.02%
	CNH	C	0.02%
	SUI	D	0.02%
	LAMR	D	0.02%
	REG	B	0.02%
	PK	B	0.02%
	BRX	A	0.02%
	UDR	B	0.02%
	VICI	C	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%
	TGNA	B	0.02%
	BAP	B	0.02%
	SON	D	0.02%
	AXTA	A	0.02%
	VSH	D	0.01%
	ANDE	D	0.01%
	LILAK	D	0.01%
	CNXC	F	0.01%
	DBX	B	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%
	BLD	D	0.01%
	CBOE	B	0.01%
	TNL	A	0.01%
	PRGO	B	0.01%
	QRTEA	F	0.01%
	AAL	B	0.01%
	FTI	A	0.01%
	JWN	C	0.01%
	HRB	D	0.01%
	XRAY	F	0.01%
	DK	C	0.01%
	HTZ	C	0.01%
	DAN	D	0.01%
	UNFI	A	0.01%
	CRI	D	0.01%
	CNX	A	0.01%
	CPRI	F	0.01%

FNDX Underweight 26 Positions Relative to SPXN

	Symbol	Grade	Weight
	PLTR	B	-0.3%
	CRWD	B	-0.19%
	ABNB	C	-0.14%
	RCL	A	-0.13%
	FICO	B	-0.13%
	AXON	A	-0.1%
	MPWR	F	-0.07%
	UAL	A	-0.07%
	DXCM	D	-0.07%
	VLTO	D	-0.06%
	TYL	B	-0.06%
	LYV	A	-0.05%
	PTC	A	-0.05%
	PODD	C	-0.04%
	TECH	D	-0.03%
	PAYC	B	-0.03%
	SMCI	F	-0.03%
	NCLH	B	-0.03%
	DAY	B	-0.03%
	INCY	C	-0.03%
	ROL	B	-0.03%
	MTCH	D	-0.02%
	WYNN	D	-0.02%
	ENPH	F	-0.02%
	NWS	B	-0.01%
	FOX	A	-0.01%

FNDX: Top Represented Industries & Keywords

Industries: Diversified Industrials Asset Management Utilities - Regulated Electric Business Services Oil & Gas E&P Specialty Retail Banks - Regional - US Software - Application Information Technology Services Semiconductors Diagnostics & Research Specialty Chemicals Credit Services Packaged Foods Packaging & Containers Building Materials Insurance - Property & Casualty Auto Parts Capital Markets Drug Manufacturers - Major

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

SPXN: Top Represented Industries & Keywords

Industries: Diversified Industrials Software - Application Utilities - Regulated Electric Semiconductors Diagnostics & Research Oil & Gas E&P Aerospace & Defense Drug Manufacturers - Major Packaged Foods Medical Devices Medical Instruments & Supplies Specialty Retail Business Services Health Care Plans Household & Personal Products Information Technology Services Specialty Chemicals Utilities - Diversified Internet Content & Information Leisure

Keywords: S&P 500 Nasdaq 100 Natural Gas Computing Electricity Dow Jones Component Electronics Chemical Medicine Aerospace Semiconductor Telecommunications Petroleum Industry Transport Mining Plastic Beverage Integrated Circuits Mobile Devices Work From Home