FNDX vs. VO ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to Vanguard Mid-Cap ETF - DNQ (VO)

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

VO

Vanguard Mid-Cap ETF - DNQ

VO Description

The investment seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization stocks. The fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Index, a broadly diversified index of stocks of mid-size U.S. companies. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Grade (RS Rating)

Last Trade

$281.84

Average Daily Volume

578,616

Number of Holdings ^*

306

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	VO
30 Days	3.67%	5.97%
60 Days	4.58%	7.54%
90 Days	6.53%	10.26%
12 Months	29.67%	32.89%

254 Overlapping Holdings

	Symbol	Grade	Weight in FNDX	Weight in VO	Overlap
	A	D	0.05%	0.46%	0.05%
	ACGL	D	0.03%	0.43%	0.03%
	ADM	D	0.21%	0.32%	0.21%
	AEE	A	0.07%	0.28%	0.07%
	AIG	B	0.28%	0.3%	0.28%
	AJG	B	0.05%	0.75%	0.05%
	AKAM	D	0.03%	0.19%	0.03%
	ALB	C	0.03%	0.07%	0.03%
	ALGN	D	0.02%	0.18%	0.02%
	ALL	A	0.27%	0.6%	0.27%
	AME	A	0.05%	0.51%	0.05%
	AMP	A	0.15%	0.61%	0.15%
	ANSS	B	0.02%	0.34%	0.02%
	APH	A	0.09%	0.98%	0.09%
	APO	B	0.03%	0.69%	0.03%
	APTV	D	0.02%	0.18%	0.02%
	ARE	D	0.03%	0.24%	0.03%
	AVB	B	0.05%	0.38%	0.05%
	AVTR	F	0.02%	0.18%	0.02%
	AVY	D	0.04%	0.2%	0.04%
	AWK	D	0.04%	0.33%	0.04%
	AZO	C	0.06%	0.31%	0.06%
	BALL	D	0.06%	0.22%	0.06%
	BAX	D	0.07%	0.22%	0.07%
	BBY	D	0.16%	0.21%	0.16%
	BEN	C	0.04%	0.04%	0.04%
	BIIB	F	0.09%	0.31%	0.09%
	BKR	B	0.16%	0.46%	0.16%
	BR	A	0.03%	0.3%	0.03%
	BRO	B	0.02%	0.29%	0.02%
	BURL	A	0.03%	0.19%	0.03%
	CAG	D	0.06%	0.17%	0.06%
	CAH	B	0.07%	0.32%	0.07%
	CARR	D	0.12%	0.76%	0.12%
	CBOE	B	0.01%	0.27%	0.01%
	CBRE	B	0.13%	0.49%	0.13%
	CCL	B	0.06%	0.25%	0.06%
	CDW	F	0.04%	0.3%	0.04%
	CE	F	0.03%	0.17%	0.03%
	CEG	D	0.1%	1.01%	0.1%
	CF	B	0.07%	0.18%	0.07%
	CFG	B	0.1%	0.22%	0.1%
	CHD	B	0.04%	0.3%	0.04%
	CINF	A	0.07%	0.27%	0.07%
	CLX	B	0.04%	0.24%	0.04%
	CMI	A	0.19%	0.55%	0.19%
	CMS	C	0.06%	0.25%	0.06%
	CNC	D	0.19%	0.4%	0.19%
	CNP	B	0.06%	0.23%	0.06%
	COR	B	0.02%	0.49%	0.02%
	CPAY	A	0.06%	0.26%	0.06%
	CPB	D	0.03%	0.11%	0.03%
	CPRT	A	0.03%	0.54%	0.03%
	CRBG	B	0.04%	0.08%	0.04%
	CTAS	B	0.08%	0.86%	0.08%
	CTRA	B	0.03%	0.2%	0.03%
	CTSH	B	0.19%	0.45%	0.19%
	CTVA	C	0.09%	0.51%	0.09%
	D	C	0.17%	0.3%	0.17%
	DAL	C	0.03%	0.45%	0.03%
	DD	D	0.17%	0.38%	0.17%
	DFS	B	0.26%	0.45%	0.26%
	DG	F	0.08%	0.21%	0.08%
	DGX	A	0.07%	0.21%	0.07%
	DHI	D	0.16%	0.6%	0.16%
	DLR	B	0.08%	0.71%	0.08%
	DLTR	F	0.05%	0.16%	0.05%
	DOC	D	0.03%	0.1%	0.03%
	DOV	A	0.06%	0.32%	0.06%
	DOW	F	0.18%	0.42%	0.18%
	DPZ	C	0.03%	0.18%	0.03%
	DRI	B	0.05%	0.23%	0.05%
	DTE	C	0.07%	0.27%	0.07%
	DVN	F	0.09%	0.29%	0.09%
	EA	A	0.09%	0.48%	0.09%
	EBAY	D	0.17%	0.34%	0.17%
	ED	D	0.12%	0.43%	0.12%
	EFX	F	0.03%	0.4%	0.03%
	EG	C	0.02%	0.19%	0.02%
	EIX	B	0.1%	0.38%	0.1%
	EL	F	0.03%	0.09%	0.03%
	EQR	B	0.05%	0.31%	0.05%
	EQT	B	0.04%	0.13%	0.04%
	ES	D	0.08%	0.29%	0.08%
	ESS	B	0.03%	0.22%	0.03%
	ETR	B	0.12%	0.4%	0.12%
	EVRG	A	0.07%	0.08%	0.07%
	EW	C	0.04%	0.24%	0.04%
	EXC	C	0.17%	0.48%	0.17%
	EXPD	D	0.04%	0.2%	0.04%
	EXPE	B	0.04%	0.24%	0.04%
	EXR	D	0.03%	0.42%	0.03%
	FANG	D	0.05%	0.41%	0.05%
	FAST	B	0.07%	0.54%	0.07%
	FE	C	0.09%	0.28%	0.09%
	FIS	C	0.12%	0.59%	0.12%
	FITB	A	0.13%	0.36%	0.13%
	FNF	B	0.06%	0.19%	0.06%
	FOXA	B	0.1%	0.12%	0.1%
	FSLR	F	0.01%	0.24%	0.01%
	FTNT	C	0.03%	0.29%	0.03%
	FTV	C	0.03%	0.3%	0.03%
	GDDY	A	0.03%	0.29%	0.03%
	GEHC	F	0.09%	0.46%	0.09%
	GEN	B	0.04%	0.18%	0.04%
	GEV	B	0.04%	0.5%	0.04%
	GIS	D	0.11%	0.46%	0.11%
	GLW	B	0.14%	0.44%	0.14%
	GPC	D	0.05%	0.19%	0.05%
	GPN	B	0.09%	0.26%	0.09%
	GRMN	B	0.03%	0.37%	0.03%
	GWW	B	0.08%	0.59%	0.08%
	HAL	C	0.06%	0.27%	0.06%
	HBAN	A	0.08%	0.27%	0.08%
	HES	B	0.06%	0.45%	0.06%
	HIG	B	0.14%	0.39%	0.14%
	HLT	A	0.06%	0.35%	0.06%
	HOLX	D	0.04%	0.23%	0.04%
	HPE	B	0.21%	0.31%	0.21%
	HPQ	B	0.21%	0.42%	0.21%
	HRL	D	0.03%	0.11%	0.03%
	HSY	F	0.04%	0.32%	0.04%
	HUBB	B	0.03%	0.14%	0.03%
	HWM	A	0.07%	0.49%	0.07%
	IDXX	F	0.02%	0.41%	0.02%
	IFF	D	0.05%	0.31%	0.05%
	ILMN	D	0.03%	0.28%	0.03%
	INVH	D	0.03%	0.22%	0.03%
	IP	B	0.17%	0.23%	0.17%
	IQV	D	0.07%	0.43%	0.07%
	IR	B	0.03%	0.47%	0.03%
	IRM	D	0.06%	0.44%	0.06%
	IT	C	0.03%	0.45%	0.03%
	J	F	0.05%	0.21%	0.05%
	JBHT	C	0.05%	0.18%	0.05%
	JCI	C	0.16%	0.31%	0.16%
	K	A	0.07%	0.27%	0.07%
	KEY	B	0.1%	0.19%	0.1%
	KEYS	A	0.04%	0.32%	0.04%
	KMI	A	0.23%	0.28%	0.23%
	KR	B	0.3%	0.44%	0.3%
	KVUE	A	0.05%	0.53%	0.05%
	L	A	0.05%	0.18%	0.05%
	LDOS	C	0.07%	0.15%	0.07%
	LEN	D	0.16%	0.02%	0.02%
	LEN	D	0.16%	0.5%	0.16%
	LH	C	0.09%	0.23%	0.09%
	LHX	C	0.16%	0.57%	0.16%
	LNG	B	0.06%	0.5%	0.06%
	LNT	A	0.04%	0.19%	0.04%
	LPLA	A	0.04%	0.26%	0.04%
	LULU	C	0.01%	0.41%	0.01%
	LUV	C	0.02%	0.22%	0.02%
	LVS	C	0.04%	0.23%	0.04%
	LYB	F	0.14%	0.27%	0.14%
	MAA	B	0.03%	0.21%	0.03%
	MAS	D	0.05%	0.21%	0.05%
	MCHP	D	0.05%	0.48%	0.05%
	MGM	D	0.06%	0.05%	0.05%
	MKC	D	0.03%	0.24%	0.03%
	MKL	A	0.05%	0.23%	0.05%
	MLM	B	0.04%	0.44%	0.04%
	MOH	F	0.05%	0.22%	0.05%
	MRNA	F	0.03%	0.23%	0.03%
	MRO	B	0.09%	0.19%	0.09%
	MRVL	B	0.04%	0.42%	0.04%
	MSCI	C	0.03%	0.52%	0.03%
	MSI	B	0.07%	0.91%	0.07%
	MTB	A	0.11%	0.39%	0.11%
	MTD	D	0.03%	0.33%	0.03%
	NDAQ	A	0.03%	0.41%	0.03%
	NEM	D	0.13%	0.64%	0.13%
	NI	A	0.05%	0.1%	0.05%
	NTAP	C	0.07%	0.29%	0.07%
	NTRS	A	0.08%	0.23%	0.08%
	NUE	C	0.19%	0.41%	0.19%
	NVR	D	0.08%	0.32%	0.08%
	NWSA	B	0.04%	0.16%	0.04%
	O	D	0.04%	0.63%	0.04%
	ODFL	B	0.06%	0.47%	0.06%
	OKE	A	0.14%	0.69%	0.14%
	OMC	C	0.08%	0.24%	0.08%
	ON	D	0.04%	0.37%	0.04%
	OTIS	C	0.05%	0.48%	0.05%
	PCAR	B	0.15%	0.66%	0.15%
	PCG	A	0.03%	0.51%	0.03%
	PEG	A	0.11%	0.54%	0.11%
	PFG	D	0.09%	0.23%	0.09%
	PHM	D	0.11%	0.33%	0.11%
	PKG	A	0.07%	0.25%	0.07%
	POOL	C	0.02%	0.08%	0.02%
	PPG	F	0.08%	0.35%	0.08%
	PPL	B	0.11%	0.28%	0.11%
	PRU	A	0.22%	0.53%	0.22%
	PWR	A	0.07%	0.54%	0.07%
	RF	A	0.09%	0.26%	0.09%
	RJF	A	0.05%	0.33%	0.05%
	RMD	C	0.03%	0.43%	0.03%
	ROK	B	0.06%	0.37%	0.06%
	RVTY	F	0.03%	0.18%	0.03%
	SBAC	D	0.02%	0.3%	0.02%
	SNA	A	0.06%	0.21%	0.06%
	SPG	B	0.1%	0.32%	0.1%
	SQ	B	0.03%	0.49%	0.03%
	SSNC	B	0.04%	0.18%	0.04%
	STE	F	0.03%	0.27%	0.03%
	STLD	B	0.11%	0.12%	0.11%
	STT	A	0.1%	0.32%	0.1%
	STX	D	0.09%	0.26%	0.09%
	SUI	D	0.02%	0.2%	0.02%
	SWK	D	0.07%	0.17%	0.07%
	SWKS	F	0.04%	0.17%	0.04%
	SYF	B	0.34%	0.26%	0.26%
	SYY	B	0.1%	0.45%	0.1%
	TDG	D	0.06%	0.84%	0.06%
	TDY	B	0.03%	0.26%	0.03%
	TER	D	0.04%	0.21%	0.04%
	TRGP	B	0.07%	0.22%	0.07%
	TRMB	B	0.03%	0.18%	0.03%
	TROW	B	0.13%	0.3%	0.13%
	TRU	D	0.03%	0.24%	0.03%
	TSCO	D	0.06%	0.35%	0.06%
	TSN	B	0.2%	0.2%	0.2%
	TTWO	A	0.03%	0.33%	0.03%
	TXT	D	0.06%	0.18%	0.06%
	UDR	B	0.02%	0.08%	0.02%
	ULTA	F	0.03%	0.21%	0.03%
	URI	B	0.13%	0.65%	0.13%
	VICI	C	0.02%	0.36%	0.02%
	VMC	B	0.05%	0.44%	0.05%
	VRSK	A	0.04%	0.47%	0.04%
	VRSN	F	0.01%	0.18%	0.01%
	VST	B	0.16%	0.52%	0.16%
	VTR	C	0.08%	0.33%	0.08%
	VTRS	A	0.1%	0.17%	0.1%
	WAB	B	0.06%	0.4%	0.06%
	WAT	B	0.04%	0.23%	0.04%
	WBA	F	0.17%	0.04%	0.04%
	WBD	C	0.08%	0.22%	0.08%
	WDC	D	0.12%	0.27%	0.12%
	WEC	A	0.08%	0.37%	0.08%
	WELL	A	0.1%	1.0%	0.1%
	WLK	D	0.02%	0.03%	0.02%
	WMB	A	0.17%	0.39%	0.17%
	WPC	D	0.02%	0.15%	0.02%
	WRB	A	0.03%	0.2%	0.03%
	WST	C	0.02%	0.27%	0.02%
	WTW	B	0.07%	0.37%	0.07%
	WY	D	0.09%	0.27%	0.09%
	XEL	A	0.12%	0.45%	0.12%
	XYL	D	0.03%	0.36%	0.03%
	YUM	B	0.08%	0.45%	0.08%
	ZBH	C	0.05%	0.26%	0.05%
	ZBRA	B	0.04%	0.24%	0.04%

FNDX Overweight 468 Positions Relative to VO

	Symbol	Grade	Weight
	AAPL	C	4.35%
	MSFT	F	2.43%
	BRK.A	B	2.17%
	JPM	A	2.03%
	XOM	B	1.99%
	META	D	1.79%
	AMZN	C	1.56%
	WMT	A	1.47%
	WFC	A	1.35%
	GOOGL	C	1.33%
	BAC	A	1.3%
	T	A	1.27%
	CVX	A	1.25%
	UNH	C	1.22%
	GOOG	C	1.14%
	VZ	C	1.13%
	C	A	1.1%
	INTC	D	0.89%
	JNJ	D	0.89%
	CMCSA	B	0.83%
	CSCO	B	0.82%
	HD	A	0.8%
	GM	B	0.79%
	PG	A	0.77%
	CVS	D	0.68%
	PFE	D	0.68%
	COST	B	0.66%
	LUMN	C	0.65%
	GS	A	0.62%
	AVGO	D	0.61%
	IBM	C	0.54%
	ORCL	B	0.5%
	ABBV	D	0.49%
	PM	B	0.48%
	COF	B	0.48%
	CI	F	0.48%
	COP	C	0.48%
	MS	A	0.46%
	BMY	B	0.45%
	DIS	B	0.45%
	QCOM	F	0.43%
	LOW	D	0.43%
	MRK	F	0.42%
	CAT	B	0.41%
	PEP	F	0.41%
	MPC	D	0.4%
	NVDA	C	0.4%
	VLO	C	0.39%
	AMGN	D	0.39%
	MU	D	0.38%
	TGT	F	0.38%
	LMT	D	0.37%
	HON	B	0.37%
	MO	A	0.37%
	GILD	C	0.37%
	PSX	C	0.36%
	ACN	C	0.36%
	AXP	A	0.36%
	ELV	F	0.36%
	V	A	0.36%
	CHTR	C	0.35%
	KO	D	0.35%
	MMM	D	0.35%
	UNP	C	0.35%
	RTX	C	0.34%
	ABT	B	0.34%
	TXN	C	0.34%
	MCD	D	0.34%
	F	C	0.33%
	LIN	D	0.33%
	FDX	B	0.32%
	USB	A	0.32%
	TRV	B	0.31%
	DUK	C	0.3%
	PNC	B	0.3%
	MA	C	0.29%
	TSLA	B	0.28%
	BLK	C	0.28%
	SBUX	A	0.28%
	UPS	C	0.28%
	MET	A	0.26%
	SO	D	0.26%
	CB	C	0.26%
	BK	A	0.26%
	TMO	F	0.25%
	TMUS	B	0.25%
	NEE	D	0.24%
	AMAT	F	0.24%
	BKNG	A	0.24%
	TFC	A	0.23%
	ETN	A	0.23%
	DE	A	0.23%
	PGR	A	0.23%
	EOG	A	0.23%
	CSX	B	0.22%
	PYPL	B	0.22%
	TJX	A	0.22%
	AFL	B	0.21%
	NSC	B	0.21%
	GD	F	0.21%
	ADBE	C	0.2%
	MDLZ	F	0.2%
	NOC	D	0.2%
	LLY	F	0.2%
	HCA	F	0.2%
	HUM	C	0.19%
	NKE	D	0.19%
	NFLX	A	0.17%
	EMR	A	0.17%
	AEP	D	0.16%
	MDT	D	0.16%
	DHR	F	0.15%
	SPGI	C	0.15%
	ADP	B	0.15%
	LRCX	F	0.15%
	ITW	B	0.15%
	WM	A	0.15%
	CRM	B	0.15%
	GE	D	0.15%
	FCX	D	0.14%
	MMC	B	0.14%
	CL	D	0.13%
	APD	A	0.13%
	PH	A	0.13%
	SCHW	B	0.13%
	SYK	C	0.13%
	BX	A	0.13%
	ADI	D	0.13%
	AON	A	0.13%
	SRE	A	0.13%
	FI	A	0.13%
	SLB	C	0.12%
	KKR	A	0.12%
	ORLY	B	0.11%
	PARA	C	0.11%
	MCK	B	0.11%
	BDX	F	0.11%
	OXY	D	0.11%
	BA	F	0.11%
	ICE	C	0.11%
	INTU	C	0.11%
	AMT	D	0.11%
	ALLY	C	0.1%
	KMB	D	0.1%
	REGN	F	0.1%
	BG	F	0.1%
	NRG	B	0.1%
	SW	A	0.09%
	ISRG	A	0.09%
	RS	B	0.09%
	BSX	B	0.09%
	MAR	B	0.09%
	CCI	D	0.09%
	AMD	F	0.09%
	KHC	F	0.09%
	ARW	D	0.08%
	EMN	D	0.08%
	USFD	A	0.08%
	CHRW	C	0.08%
	WHR	B	0.08%
	KLAC	D	0.08%
	CME	A	0.08%
	UHS	D	0.08%
	WKC	D	0.08%
	EQIX	A	0.08%
	ECL	D	0.08%
	JLL	D	0.08%
	SHW	A	0.08%
	OC	A	0.07%
	VFC	C	0.07%
	CMA	A	0.07%
	THC	D	0.07%
	MCO	B	0.07%
	STZ	D	0.07%
	R	B	0.07%
	PLD	D	0.07%
	KDP	D	0.07%
	X	C	0.07%
	LAD	A	0.07%
	ZTS	D	0.07%
	AVT	C	0.07%
	ROST	C	0.07%
	VRTX	F	0.07%
	OVV	B	0.06%
	TOL	B	0.06%
	M	D	0.06%
	DVA	B	0.06%
	JEF	A	0.06%
	BLDR	D	0.06%
	UNM	A	0.06%
	AA	B	0.06%
	ZION	B	0.06%
	OMF	A	0.06%
	MHK	D	0.06%
	FLEX	A	0.06%
	JBL	B	0.06%
	PFGC	B	0.06%
	EME	C	0.06%
	TT	A	0.06%
	RSG	A	0.06%
	PAYX	C	0.06%
	KSS	F	0.06%
	MOS	F	0.06%
	KMX	B	0.06%
	ACM	A	0.05%
	VNO	B	0.05%
	MNST	C	0.05%
	AFG	A	0.05%
	INGR	B	0.05%
	ORI	A	0.05%
	CSL	C	0.05%
	NXPI	D	0.05%
	IVZ	B	0.05%
	JNPR	F	0.05%
	AES	F	0.05%
	AN	C	0.05%
	BXP	D	0.05%
	KD	B	0.05%
	DXC	B	0.05%
	ALSN	B	0.05%
	LEA	D	0.05%
	EQH	B	0.05%
	TDS	B	0.05%
	GPI	A	0.05%
	CASY	A	0.05%
	DINO	D	0.05%
	BWA	D	0.05%
	ROP	B	0.05%
	TPR	B	0.05%
	SFM	A	0.05%
	LKQ	D	0.05%
	SJM	D	0.05%
	BFH	B	0.05%
	PSA	D	0.05%
	LNC	B	0.05%
	TAP	C	0.05%
	ANET	C	0.04%
	FBIN	D	0.04%
	UBER	D	0.04%
	LPX	B	0.04%
	BCC	B	0.04%
	GAP	C	0.04%
	OSK	B	0.04%
	AMG	B	0.04%
	IPG	D	0.04%
	ZIM	C	0.04%
	UFPI	B	0.04%
	PNR	A	0.04%
	FYBR	D	0.04%
	RPM	A	0.04%
	CMG	B	0.04%
	CNO	A	0.04%
	HST	C	0.04%
	DOX	D	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%
	ATO	A	0.04%
	RHI	B	0.04%
	HSIC	B	0.04%
	FAF	A	0.04%
	MUSA	A	0.04%
	BERY	B	0.04%
	PVH	C	0.04%
	PNW	B	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%
	UGI	A	0.04%
	DELL	C	0.03%
	EXP	A	0.03%
	SEE	C	0.03%
	THG	A	0.03%
	LSTR	D	0.03%
	PRI	A	0.03%
	AR	B	0.03%
	FMC	D	0.03%
	SCI	B	0.03%
	IEX	B	0.03%
	ACI	C	0.03%
	GNTX	C	0.03%
	AAP	C	0.03%
	BTU	B	0.03%
	ITT	A	0.03%
	BBWI	D	0.03%
	KBH	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%
	ABG	B	0.03%
	SNV	B	0.03%
	SEIC	B	0.03%
	KIM	A	0.03%
	VOYA	B	0.03%
	QRVO	F	0.03%
	AMCR	D	0.03%
	ARMK	B	0.03%
	AIZ	A	0.03%
	CAR	C	0.03%
	OGE	B	0.03%
	GPK	C	0.03%
	HAS	D	0.03%
	FL	F	0.03%
	RRX	B	0.03%
	RL	B	0.03%
	AGCO	D	0.03%
	CACI	D	0.03%
	APA	D	0.03%
	MTH	D	0.03%
	JHG	A	0.03%
	CLF	F	0.03%
	HII	D	0.03%
	SNPS	B	0.03%
	EWBC	A	0.03%
	WU	D	0.03%
	CIEN	B	0.03%
	GNW	A	0.03%
	NXST	C	0.03%
	FFIV	B	0.03%
	CG	A	0.03%
	HUN	F	0.03%
	FHN	A	0.03%
	CMC	B	0.03%
	OLN	D	0.03%
	DECK	A	0.03%
	PANW	C	0.03%
	BAH	F	0.03%
	WSO	A	0.03%
	CDNS	B	0.03%
	PBF	D	0.03%
	MTZ	B	0.03%
	ADSK	A	0.03%
	SANM	B	0.03%
	NWL	B	0.03%
	HBI	B	0.03%
	GL	B	0.03%
	MLI	C	0.03%
	MDU	D	0.02%
	MTN	C	0.02%
	ODP	F	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%
	TFX	F	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%
	ASO	F	0.02%
	GLPI	C	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%
	NAVI	C	0.02%
	SM	B	0.02%
	NDSN	B	0.02%
	CZR	F	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%
	EPAM	C	0.02%
	HUBG	A	0.02%
	SLG	B	0.02%
	GGG	B	0.02%
	GXO	B	0.02%
	CTLT	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%
	AOS	F	0.02%
	BECN	B	0.02%
	SKX	D	0.02%
	CC	C	0.02%
	CNH	C	0.02%
	LAMR	D	0.02%
	REG	B	0.02%
	PK	B	0.02%
	BRX	A	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%
	GNRC	B	0.02%
	TGNA	B	0.02%
	BAP	B	0.02%
	SON	D	0.02%
	AXTA	A	0.02%
	SOLV	C	0.02%
	VSH	D	0.01%
	ANDE	D	0.01%
	LILAK	D	0.01%
	CNXC	F	0.01%
	CRL	C	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%
	NOW	A	0.01%
	TNL	A	0.01%
	PRGO	B	0.01%
	QRTEA	F	0.01%
	AAL	B	0.01%
	ALLE	D	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 52 Positions Relative to VO

	Symbol	Grade	Weight
	PLTR	B	-1.02%
	TTD	B	-0.63%
	DASH	A	-0.62%
	FICO	B	-0.56%
	RCL	A	-0.55%
	WCN	A	-0.55%
	VRT	B	-0.47%
	DDOG	A	-0.45%
	MPWR	F	-0.43%
	ALNY	D	-0.42%
	COIN	C	-0.38%
	TEAM	A	-0.37%
	VEEV	C	-0.37%
	ARES	A	-0.36%
	CSGP	D	-0.36%
	RBLX	C	-0.34%
	DXCM	D	-0.34%
	HUBS	A	-0.33%
	NET	B	-0.31%
	UAL	A	-0.31%
	TYL	B	-0.31%
	VLTO	D	-0.29%
	MSTR	C	-0.26%
	MDB	C	-0.23%
	APP	B	-0.23%
	LYV	A	-0.23%
	PINS	D	-0.23%
	FDS	B	-0.21%
	SNOW	C	-0.21%
	ZM	B	-0.21%
	ZS	C	-0.2%
	IBKR	A	-0.19%
	HEI	B	-0.18%
	SMCI	F	-0.18%
	CVNA	B	-0.18%
	TW	A	-0.18%
	ROL	B	-0.17%
	SNAP	C	-0.16%
	BMRN	D	-0.15%
	TPL	A	-0.14%
	OKTA	C	-0.14%
	ENPH	F	-0.13%
	HEI	B	-0.12%
	RPRX	D	-0.12%
	PODD	C	-0.1%
	BSY	D	-0.09%
	INCY	C	-0.07%
	FOX	A	-0.05%
	WMG	C	-0.05%
	RKT	F	-0.03%
	AGR	B	-0.03%
	NWS	B	-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

VO: Top Represented Industries & Keywords

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

Keywords: S&P 500 Nasdaq 100 Natural Gas Computing Electricity Insurance Real Estate Investment Trust Aerospace Electronics Insurance Products Chemical Medicine Bank Banking Cloud Computing Disability Oil And Gas Telecommunications Acid Laser