GUSA vs. RAFE ETF Comparison

Comparison of Goldman Sachs MarketBeta U.S. 1000 Equity ETF (GUSA) to PIMCO RAFI ESG U.S. ETF (RAFE)

GUSA

Goldman Sachs MarketBeta U.S. 1000 Equity ETF

GUSA Description

The fund seeks to invest at least 80% of its assets in securities included in its underlying index, in depositary receipts representing securities included in its underlying index and in underlying stocks in respect of depositary receipts included in its underlying index. The index is designed to measure the performance of equity securities of large and mid-capitalization equity issuers covering approximately the largest 1,000 of the free-float market capitalization in the U.S.

Grade (RS Rating)

Last Trade

$51.92

Average Daily Volume

6,960

Number of Holdings ^*

975

* may have additional holdings in another (foreign) market

RAFE

PIMCO RAFI ESG U.S. ETF

RAFE Description

The investment seeks to provide total return that closely corresponds, before fees and expenses, to the total return of the RAFI ESG US Index. The fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its total assets in the component securities of the RAFI ESG US Index. The underlying index is constructed by RAFI Indices, LLC using a rules-based approach within publicly traded U.S. equities to create an integrated ESG strategy which overweights companies that rate well across various ESG themes and excludes companies with a major involvement in industries such as tobacco, gaming, weapons and fossil fuels.

Grade (RS Rating)

Last Trade

$37.71

Average Daily Volume

12,394

Number of Holdings ^*

237

* may have additional holdings in another (foreign) market

Performance

Period	GUSA	RAFE
30 Days	2.49%	0.70%
60 Days	5.23%	2.26%
90 Days	6.74%	3.92%
12 Months	32.92%	22.96%

225 Overlapping Holdings

Symbol	Grade	Weight in GUSA	Weight in RAFE	Overlap
A	D	0.07%	0.13%	0.07%
AAPL	C	6.17%	5.06%	5.06%
ABBV	F	0.54%	1.26%	0.54%
ABT	B	0.37%	0.93%	0.37%
ACN	B	0.4%	0.78%	0.4%
ADBE	C	0.4%	0.5%	0.4%
ADI	D	0.19%	0.31%	0.19%
ADM	D	0.05%	0.26%	0.05%
ADP	A	0.22%	0.37%	0.22%
AGCO	D	0.01%	0.03%	0.01%
AKAM	D	0.02%	0.06%	0.02%
ALL	A	0.09%	0.46%	0.09%
AMAT	F	0.25%	0.71%	0.25%
AMD	F	0.41%	0.05%	0.05%
AMGN	F	0.27%	0.98%	0.27%
AMP	A	0.1%	0.2%	0.1%
AMT	C	0.17%	0.15%	0.15%
ANET	C	0.17%	0.02%	0.02%
APD	A	0.13%	0.32%	0.13%
ARW	D	0.01%	0.12%	0.01%
AVB	B	0.06%	0.13%	0.06%
AVGO	D	1.38%	1.07%	1.07%
AWK	C	0.05%	0.1%	0.05%
AXP	A	0.29%	0.51%	0.29%
BAC	A	0.57%	0.68%	0.57%
BALL	F	0.03%	0.13%	0.03%
BAX	F	0.03%	0.15%	0.03%
BBY	D	0.03%	0.4%	0.03%
BDX	F	0.12%	0.27%	0.12%
BIIB	F	0.04%	0.24%	0.04%
BK	A	0.1%	0.16%	0.1%
BMY	B	0.22%	1.6%	0.22%
BSX	A	0.24%	0.09%	0.09%
C	A	0.23%	2.61%	0.23%
CAG	F	0.02%	0.06%	0.02%
CAH	B	0.05%	0.24%	0.05%
CARR	C	0.11%	0.3%	0.11%
CBRE	B	0.07%	0.3%	0.07%
CCI	C	0.08%	0.21%	0.08%
CDNS	B	0.15%	0.1%	0.1%
CDW	F	0.04%	0.09%	0.04%
CF	A	0.03%	0.12%	0.03%
CHD	A	0.05%	0.05%	0.05%
CI	D	0.16%	1.09%	0.16%
CL	D	0.14%	0.29%	0.14%
CMCSA	B	0.3%	1.28%	0.3%
CMI	A	0.09%	0.16%	0.09%
CNC	D	0.06%	0.11%	0.06%
COR	B	0.08%	0.11%	0.08%
CPB	D	0.02%	0.04%	0.02%
CRM	B	0.55%	0.49%	0.49%
CSCO	B	0.42%	2.39%	0.42%
CTSH	B	0.07%	0.15%	0.07%
CTVA	C	0.07%	0.04%	0.04%
CVS	D	0.13%	0.32%	0.13%
DD	C	0.06%	0.48%	0.06%
DE	B	0.18%	0.43%	0.18%
DELL	B	0.07%	0.11%	0.07%
DG	F	0.03%	0.12%	0.03%
DGX	A	0.03%	0.05%	0.03%
DHR	F	0.27%	0.38%	0.27%
DIS	B	0.37%	0.85%	0.37%
DOV	A	0.05%	0.05%	0.05%
DOW	F	0.06%	0.42%	0.06%
DOX	D	0.02%	0.08%	0.02%
DVA	C	0.01%	0.13%	0.01%
EA	A	0.07%	0.23%	0.07%
EBAY	D	0.05%	0.33%	0.05%
ECL	D	0.11%	0.21%	0.11%
EIX	B	0.06%	0.19%	0.06%
EL	F	0.03%	0.09%	0.03%
ELV	F	0.17%	0.76%	0.17%
EQH	C	0.03%	0.05%	0.03%
EQIX	A	0.16%	0.19%	0.16%
EQR	C	0.05%	0.13%	0.05%
ESS	B	0.04%	0.04%	0.04%
EW	C	0.08%	0.12%	0.08%
F	C	0.08%	0.92%	0.08%
FAST	B	0.09%	0.1%	0.09%
FDX	B	0.12%	0.35%	0.12%
FI	A	0.22%	0.22%	0.22%
FIS	C	0.09%	0.29%	0.09%
FITB	B	0.06%	0.1%	0.06%
FLEX	B	0.03%	0.04%	0.03%
FOXA	A	0.02%	0.15%	0.02%
GAP	C	0.01%	0.09%	0.01%
GEHC	D	0.06%	0.22%	0.06%
GEN	B	0.03%	0.03%	0.03%
GILD	C	0.2%	0.87%	0.2%
GIS	D	0.06%	0.26%	0.06%
GM	C	0.11%	1.79%	0.11%
GPC	D	0.03%	0.06%	0.03%
GS	A	0.33%	0.8%	0.33%
GWW	B	0.09%	0.15%	0.09%
HAS	D	0.01%	0.04%	0.01%
HCA	F	0.11%	0.08%	0.08%
HD	B	0.74%	1.4%	0.74%
HIG	B	0.06%	0.21%	0.06%
HLT	A	0.11%	0.12%	0.11%
HOLX	D	0.03%	0.08%	0.03%
HPE	B	0.05%	0.56%	0.05%
HPQ	B	0.06%	0.58%	0.06%
HRL	D	0.02%	0.01%	0.01%
HSIC	C	0.02%	0.04%	0.02%
HST	C	0.02%	0.09%	0.02%
HSY	F	0.05%	0.05%	0.05%
HUM	C	0.06%	0.33%	0.06%
HUN	F	0.01%	0.06%	0.01%
IBM	C	0.35%	1.45%	0.35%
IFF	D	0.04%	0.1%	0.04%
ILMN	C	0.04%	0.07%	0.04%
INTC	C	0.19%	2.33%	0.19%
IP	A	0.04%	0.34%	0.04%
IRM	C	0.06%	0.15%	0.06%
ISRG	A	0.35%	0.11%	0.11%
ITW	B	0.14%	0.25%	0.14%
JCI	B	0.1%	0.45%	0.1%
JLL	D	0.02%	0.18%	0.02%
JNJ	C	0.67%	2.55%	0.67%
JNPR	D	0.02%	0.16%	0.02%
JPM	A	1.26%	3.18%	1.26%
K	A	0.04%	0.14%	0.04%
KDP	F	0.06%	0.11%	0.06%
KEYS	A	0.05%	0.09%	0.05%
KHC	F	0.04%	0.17%	0.04%
KIM	A	0.03%	0.05%	0.03%
KLAC	F	0.15%	0.18%	0.15%
KMB	C	0.08%	0.23%	0.08%
KO	D	0.44%	0.78%	0.44%
LEA	F	0.01%	0.07%	0.01%
LH	B	0.04%	0.15%	0.04%
LIN	C	0.39%	0.91%	0.39%
LKQ	F	0.02%	0.07%	0.02%
LLY	F	1.13%	0.6%	0.6%
LNC	C	0.01%	0.07%	0.01%
LOW	C	0.27%	0.95%	0.27%
LRCX	F	0.17%	0.43%	0.17%
M	F	0.01%	0.02%	0.01%
MA	B	0.78%	0.63%	0.63%
MAA	B	0.03%	0.06%	0.03%
MAR	A	0.12%	0.23%	0.12%
MCHP	F	0.06%	0.05%	0.05%
MCK	A	0.15%	0.34%	0.15%
MCO	B	0.13%	0.13%	0.13%
MDLZ	F	0.16%	0.24%	0.16%
MET	A	0.09%	0.55%	0.09%
META	D	2.23%	0.98%	0.98%
MHK	D	0.01%	0.04%	0.01%
MMM	D	0.13%	0.88%	0.13%
MOS	F	0.02%	0.17%	0.02%
MRK	D	0.45%	1.39%	0.45%
MRVL	B	0.14%	0.11%	0.11%
MSFT	D	5.59%	4.52%	4.52%
MSI	B	0.15%	0.17%	0.15%
MU	D	0.2%	0.84%	0.2%
NDAQ	A	0.06%	0.05%	0.05%
NEM	D	0.09%	0.36%	0.09%
NFLX	A	0.67%	0.06%	0.06%
NKE	F	0.16%	0.4%	0.16%
NTAP	C	0.05%	0.22%	0.05%
NTRS	A	0.04%	0.06%	0.04%
NVDA	B	6.32%	0.88%	0.88%
NWSA	A	0.02%	0.06%	0.02%
O	C	0.09%	0.01%	0.01%
OC	A	0.03%	0.17%	0.03%
OGN	F	0.01%	0.03%	0.01%
OMC	C	0.03%	0.12%	0.03%
ON	D	0.05%	0.08%	0.05%
ORCL	A	0.56%	1.33%	0.56%
ORLY	B	0.13%	0.04%	0.04%
OTIS	C	0.07%	0.09%	0.07%
PARA	C	0.01%	0.18%	0.01%
PAYX	B	0.08%	0.09%	0.08%
PEP	F	0.39%	0.24%	0.24%
PFE	F	0.26%	1.92%	0.26%
PFG	D	0.04%	0.16%	0.04%
PG	C	0.73%	2.18%	0.73%
PGR	A	0.27%	0.2%	0.2%
PKG	A	0.04%	0.12%	0.04%
PLD	F	0.19%	0.06%	0.06%
PPG	F	0.05%	0.17%	0.05%
PRU	A	0.08%	0.4%	0.08%
PVH	C	0.01%	0.09%	0.01%
PYPL	B	0.16%	0.51%	0.16%
QCOM	F	0.33%	1.29%	0.33%
ROK	C	0.06%	0.04%	0.04%
RSG	A	0.08%	0.03%	0.03%
SHW	B	0.16%	0.13%	0.13%
SJM	D	0.02%	0.07%	0.02%
SNPS	B	0.15%	0.07%	0.07%
SOLV	D	0.02%	0.07%	0.02%
SPGI	C	0.29%	0.08%	0.08%
STT	B	0.05%	0.21%	0.05%
SWK	D	0.02%	0.09%	0.02%
SYK	B	0.23%	0.09%	0.09%
SYY	D	0.07%	0.2%	0.07%
T	A	0.3%	1.86%	0.3%
TER	F	0.03%	0.08%	0.03%
TGT	F	0.13%	0.91%	0.13%
TJX	A	0.25%	0.38%	0.25%
TMUS	B	0.21%	0.37%	0.21%
TPR	B	0.02%	0.11%	0.02%
TROW	B	0.05%	0.09%	0.05%
TSCO	D	0.05%	0.09%	0.05%
TSLA	B	1.76%	0.39%	0.39%
TSN	B	0.03%	0.05%	0.03%
TXN	C	0.33%	0.7%	0.33%
UNH	B	0.97%	0.5%	0.5%
UPS	C	0.18%	0.42%	0.18%
USFD	A	0.03%	0.07%	0.03%
V	A	0.95%	0.86%	0.86%
VFC	C	0.01%	0.16%	0.01%
VTR	B	0.05%	0.18%	0.05%
VTRS	A	0.03%	0.07%	0.03%
VZ	C	0.32%	1.29%	0.32%
WAB	B	0.06%	0.07%	0.06%
WAT	C	0.04%	0.09%	0.04%
WBA	F	0.01%	0.08%	0.01%
WDC	D	0.04%	0.3%	0.04%
WELL	A	0.15%	0.26%	0.15%
WFC	A	0.46%	2.2%	0.46%
WHR	B	0.01%	0.17%	0.01%
WM	B	0.16%	0.35%	0.16%
WY	F	0.04%	0.21%	0.04%
ZTS	D	0.15%	0.11%	0.11%

GUSA Overweight 750 Positions Relative to RAFE

Symbol	Grade	Weight
AMZN	C	3.5%
GOOGL	C	1.9%
GOOG	C	1.71%
BRK.A	B	1.13%
XOM	B	0.96%
COST	A	0.75%
WMT	A	0.69%
CVX	A	0.5%
MCD	D	0.38%
NOW	A	0.38%
PM	B	0.37%
GE	D	0.35%
TMO	F	0.35%
CAT	B	0.34%
INTU	B	0.32%
MS	A	0.3%
BKNG	A	0.3%
RTX	D	0.29%
NEE	C	0.29%
BLK	B	0.28%
HON	C	0.27%
UBER	F	0.26%
UNP	C	0.26%
ETN	A	0.26%
COP	C	0.24%
BX	A	0.24%
PLTR	B	0.23%
PANW	B	0.23%
LMT	D	0.23%
SCHW	B	0.22%
CB	C	0.21%
VRTX	D	0.21%
MMC	B	0.2%
MDT	D	0.2%
SBUX	A	0.2%
KKR	A	0.19%
SO	C	0.18%
TT	A	0.17%
GEV	B	0.17%
MO	A	0.17%
BA	F	0.16%
DUK	C	0.16%
PH	A	0.16%
MELI	C	0.16%
ICE	C	0.16%
CMG	B	0.15%
CRWD	B	0.15%
PNC	B	0.15%
CME	B	0.15%
APH	A	0.15%
EMR	B	0.14%
AON	A	0.14%
CTAS	B	0.14%
USB	A	0.14%
EOG	A	0.14%
REGN	F	0.14%
MSTR	B	0.14%
APO	B	0.13%
TDG	D	0.13%
WMB	A	0.13%
NOC	D	0.13%
APP	B	0.13%
CEG	C	0.13%
FCX	F	0.12%
GD	D	0.12%
COIN	C	0.12%
ADSK	A	0.12%
OKE	A	0.12%
SPOT	B	0.12%
CSX	C	0.12%
COF	C	0.12%
SPG	A	0.11%
NSC	B	0.11%
ROP	B	0.11%
TRV	B	0.11%
SRE	A	0.11%
SLB	C	0.11%
DLR	B	0.11%
TFC	A	0.11%
AJG	A	0.11%
RCL	A	0.1%
PSA	C	0.1%
AZO	C	0.1%
VST	A	0.1%
MPC	D	0.1%
TTD	B	0.1%
URI	C	0.1%
WDAY	B	0.1%
PSX	C	0.1%
KMI	A	0.1%
FICO	B	0.1%
ABNB	C	0.1%
FTNT	C	0.1%
AFL	B	0.1%
DASH	B	0.1%
PCAR	B	0.1%
DHI	F	0.09%
FLUT	A	0.09%
HWM	A	0.09%
PWR	A	0.09%
VRT	B	0.09%
CPRT	B	0.09%
AIG	B	0.09%
D	C	0.09%
LNG	A	0.09%
SQ	A	0.09%
AEP	C	0.09%
IR	B	0.08%
SNOW	B	0.08%
DAL	B	0.08%
BKR	A	0.08%
DFS	B	0.08%
AXON	A	0.08%
TRGP	A	0.08%
AME	A	0.08%
PCG	A	0.08%
PEG	A	0.08%
KVUE	A	0.08%
MSCI	C	0.08%
VLO	C	0.08%
ROST	D	0.08%
LHX	C	0.08%
MLM	C	0.07%
CHTR	C	0.07%
GLW	B	0.07%
VMC	B	0.07%
YUM	D	0.07%
MNST	C	0.07%
STZ	D	0.07%
XEL	A	0.07%
TEAM	A	0.07%
KR	B	0.07%
IT	C	0.07%
EXC	C	0.07%
LEN	D	0.07%
ODFL	C	0.07%
VRSK	A	0.07%
DDOG	A	0.07%
HES	B	0.07%
RJF	A	0.06%
TTWO	A	0.06%
UAL	A	0.06%
ARES	A	0.06%
VEEV	C	0.06%
WEC	A	0.06%
WTW	B	0.06%
ETR	B	0.06%
GRMN	B	0.06%
FANG	C	0.06%
LULU	C	0.06%
TPL	A	0.06%
HUBS	A	0.06%
VICI	C	0.06%
ED	C	0.06%
IDXX	F	0.06%
IQV	F	0.06%
ACGL	C	0.06%
NUE	C	0.06%
RMD	C	0.06%
EXR	C	0.06%
OXY	D	0.06%
MTB	A	0.06%
CPAY	A	0.05%
EQT	B	0.05%
DTE	C	0.05%
SYF	B	0.05%
TYL	B	0.05%
PPL	A	0.05%
GDDY	A	0.05%
CCL	A	0.05%
FCNCA	A	0.05%
HBAN	A	0.05%
NVR	D	0.05%
RBLX	C	0.05%
FTV	C	0.05%
BR	A	0.05%
BRO	B	0.05%
PHM	D	0.05%
CPNG	D	0.05%
HAL	C	0.05%
DECK	A	0.05%
SW	A	0.05%
MPWR	F	0.05%
CVNA	B	0.05%
NET	B	0.05%
GPN	B	0.05%
XYL	D	0.05%
CSGP	D	0.05%
DXCM	C	0.05%
ANSS	B	0.05%
ALNY	D	0.05%
EFX	F	0.05%
STX	C	0.04%
IBKR	A	0.04%
LUV	C	0.04%
NRG	B	0.04%
INVH	D	0.04%
ZBRA	B	0.04%
LYV	A	0.04%
LII	A	0.04%
CSL	C	0.04%
ZM	C	0.04%
CNP	A	0.04%
DKNG	B	0.04%
STLD	B	0.04%
MDB	B	0.04%
CMS	C	0.04%
CFG	B	0.04%
BLDR	D	0.04%
CLX	A	0.04%
STE	D	0.04%
LYB	F	0.04%
CBOE	C	0.04%
LDOS	C	0.04%
MKL	A	0.04%
WBD	B	0.04%
ES	C	0.04%
TDY	B	0.04%
EXPE	B	0.04%
WST	C	0.04%
ATO	A	0.04%
PTC	B	0.04%
ZBH	C	0.04%
FE	C	0.04%
CINF	A	0.04%
VLTO	C	0.04%
SBAC	D	0.04%
LPLA	A	0.04%
DVN	F	0.04%
EME	A	0.04%
RF	A	0.04%
AEE	A	0.04%
HUBB	B	0.04%
MTD	F	0.04%
RVTY	F	0.03%
SAIA	B	0.03%
NDSN	B	0.03%
DT	D	0.03%
APTV	F	0.03%
UDR	B	0.03%
POOL	C	0.03%
FFIV	B	0.03%
CW	C	0.03%
JBL	C	0.03%
AMCR	C	0.03%
SMCI	F	0.03%
SFM	A	0.03%
JBHT	C	0.03%
EWBC	A	0.03%
ACM	B	0.03%
AFRM	A	0.03%
ROL	B	0.03%
TWLO	A	0.03%
EVRG	A	0.03%
UTHR	C	0.03%
DOC	C	0.03%
GGG	B	0.03%
ENTG	D	0.03%
VRSN	C	0.03%
RGA	A	0.03%
CASY	A	0.03%
GWRE	A	0.03%
TOL	B	0.03%
TXT	D	0.03%
L	A	0.03%
PSTG	D	0.03%
DPZ	C	0.03%
TW	A	0.03%
ALGN	D	0.03%
SSNC	B	0.03%
ULTA	F	0.03%
SUI	C	0.03%
AVY	F	0.03%
LNT	A	0.03%
FNF	B	0.03%
HEI	A	0.03%
MRO	B	0.03%
DOCU	B	0.03%
TOST	B	0.03%
ARE	F	0.03%
MAS	D	0.03%
J	D	0.03%
WSM	C	0.03%
MOH	F	0.03%
MANH	D	0.03%
NI	A	0.03%
XPO	B	0.03%
EXPD	C	0.03%
NTNX	B	0.03%
RS	B	0.03%
TRMB	B	0.03%
FIX	A	0.03%
RPM	A	0.03%
IEX	C	0.03%
LVS	B	0.03%
PNR	A	0.03%
HOOD	B	0.03%
BAH	F	0.03%
BURL	B	0.03%
YUMC	C	0.03%
PINS	F	0.03%
KEY	B	0.03%
WRB	A	0.03%
WSO	A	0.03%
SNA	A	0.03%
PODD	C	0.03%
FDS	B	0.03%
MKC	C	0.03%
TRU	D	0.03%
FSLR	F	0.03%
ZS	B	0.03%
NTRA	A	0.03%
DRI	B	0.03%
CTRA	B	0.03%
SKX	D	0.02%
RL	C	0.02%
CFR	B	0.02%
EGP	D	0.02%
RRC	B	0.02%
GPK	C	0.02%
FRT	B	0.02%
TTC	C	0.02%
PR	B	0.02%
AOS	F	0.02%
PLNT	A	0.02%
SNX	D	0.02%
PCTY	C	0.02%
WYNN	C	0.02%
RBC	A	0.02%
CNH	C	0.02%
CBSH	B	0.02%
CR	A	0.02%
HQY	A	0.02%
EXEL	B	0.02%
MGM	D	0.02%
AXTA	B	0.02%
ZION	B	0.02%
GLOB	B	0.02%
RVMD	C	0.02%
WMS	F	0.02%
OGE	A	0.02%
MORN	B	0.02%
PEN	B	0.02%
BILL	A	0.02%
X	B	0.02%
TPX	B	0.02%
ORI	A	0.02%
KNX	C	0.02%
AR	B	0.02%
QGEN	D	0.02%
FLR	B	0.02%
CMA	B	0.02%
CRS	B	0.02%
BRX	A	0.02%
MTZ	B	0.02%
FN	C	0.02%
FBIN	D	0.02%
SCCO	F	0.02%
TFX	F	0.02%
DCI	B	0.02%
ROKU	D	0.02%
WCC	B	0.02%
INGR	C	0.02%
TKO	A	0.02%
PNFP	B	0.02%
REXR	F	0.02%
AAL	B	0.02%
GMED	A	0.02%
CRL	D	0.02%
BRBR	A	0.02%
SRPT	F	0.02%
HLI	A	0.02%
ARMK	B	0.02%
CHDN	B	0.02%
CIEN	C	0.02%
WAL	B	0.02%
AYI	B	0.02%
ALLY	C	0.02%
EXAS	D	0.02%
LAD	A	0.02%
AES	F	0.02%
GL	C	0.02%
RGLD	C	0.02%
EHC	B	0.02%
RPRX	D	0.02%
LBRDK	C	0.02%
CACI	D	0.02%
OHI	C	0.02%
AFG	A	0.02%
EXP	B	0.02%
MKTX	D	0.02%
MUSA	B	0.02%
WING	D	0.02%
PRI	B	0.02%
RDDT	A	0.02%
ALSN	B	0.02%
DTM	A	0.02%
PCVX	D	0.02%
WBS	A	0.02%
MLI	B	0.02%
AIT	B	0.02%
TAP	C	0.02%
WWD	C	0.02%
IOT	A	0.02%
PNW	A	0.02%
TECH	F	0.02%
BLD	D	0.02%
ERIE	D	0.02%
IPG	D	0.02%
FND	D	0.02%
KNSL	B	0.02%
FHN	A	0.02%
GME	C	0.02%
CTLT	C	0.02%
WTRG	B	0.02%
EVR	B	0.02%
CCK	D	0.02%
GNRC	C	0.02%
LW	C	0.02%
TTEK	F	0.02%
OVV	B	0.02%
SNAP	D	0.02%
ATR	B	0.02%
CUBE	C	0.02%
NCLH	B	0.02%
PAYC	B	0.02%
LAMR	C	0.02%
UHS	D	0.02%
CG	B	0.02%
DAY	B	0.02%
SF	B	0.02%
BJ	A	0.02%
HEI	A	0.02%
DKS	D	0.02%
INCY	C	0.02%
AIZ	A	0.02%
LECO	C	0.02%
RRX	B	0.02%
BXP	C	0.02%
KMX	B	0.02%
BMRN	F	0.02%
AA	A	0.02%
Z	A	0.02%
NBIX	C	0.02%
INSM	C	0.02%
DUOL	A	0.02%
SCI	B	0.02%
EMN	C	0.02%
OKTA	C	0.02%
JEF	A	0.02%
BWXT	B	0.02%
REG	A	0.02%
EG	C	0.02%
ALLE	C	0.02%
ITT	A	0.02%
WPC	C	0.02%
FTI	A	0.02%
MRNA	F	0.02%
EPAM	B	0.02%
CLH	C	0.02%
NVT	B	0.02%
ALB	B	0.02%
JKHY	D	0.02%
AMH	C	0.02%
BG	D	0.02%
PFGC	B	0.02%
CHRW	B	0.02%
ELS	C	0.02%
TXRH	B	0.02%
CPT	B	0.02%
OWL	A	0.02%
AVTR	F	0.02%
DLTR	F	0.02%
COHR	B	0.02%
GLPI	C	0.02%
UNM	A	0.02%
THC	D	0.02%
SWKS	F	0.02%
RNR	C	0.02%
SOFI	B	0.02%
ADTN	A	0.01%
AMKR	D	0.01%
TNET	F	0.01%
HESM	B	0.01%
CACC	D	0.01%
SATS	D	0.01%
COLM	C	0.01%
PAG	B	0.01%
NSA	C	0.01%
CRVL	B	0.01%
NUVL	C	0.01%
NWS	A	0.01%
GFS	C	0.01%
DNB	B	0.01%
ZG	A	0.01%
ACHC	F	0.01%
IAC	F	0.01%
DDS	B	0.01%
LANC	C	0.01%
PII	F	0.01%
MDU	D	0.01%
MSM	C	0.01%
ASGN	F	0.01%
RYN	D	0.01%
OPCH	D	0.01%
W	D	0.01%
ASH	F	0.01%
ZETA	D	0.01%
ENLC	A	0.01%
HOG	D	0.01%
XRAY	F	0.01%
SIG	B	0.01%
STEP	C	0.01%
FLO	D	0.01%
ROIV	C	0.01%
CELH	F	0.01%
NSIT	F	0.01%
WLK	D	0.01%
CHH	A	0.01%
WMG	D	0.01%
CIVI	D	0.01%
DLB	B	0.01%
EEFT	B	0.01%
APPF	B	0.01%
AN	C	0.01%
SLGN	A	0.01%
PSN	D	0.01%
BRKR	D	0.01%
CHWY	B	0.01%
SWX	B	0.01%
KRC	B	0.01%
MGY	A	0.01%
BYD	B	0.01%
TENB	C	0.01%
FIVE	F	0.01%
CNM	D	0.01%
MUR	D	0.01%
ST	F	0.01%
IONS	F	0.01%
EXPO	D	0.01%
RH	C	0.01%
VKTX	F	0.01%
TKR	D	0.01%
SON	F	0.01%
MMS	F	0.01%
SN	D	0.01%
OLN	F	0.01%
HXL	F	0.01%
IBP	D	0.01%
PATH	C	0.01%
NXST	C	0.01%
FFIN	B	0.01%
AL	B	0.01%
SEE	C	0.01%
ABG	C	0.01%
HCP	B	0.01%
SM	B	0.01%
VVV	D	0.01%
INSP	D	0.01%
UGI	C	0.01%
QLYS	B	0.01%
OZK	B	0.01%
GATX	A	0.01%
POST	C	0.01%
BC	C	0.01%
CYTK	F	0.01%
AM	A	0.01%
AMG	B	0.01%
LNTH	D	0.01%
CLF	F	0.01%
CRUS	D	0.01%
BROS	A	0.01%
UBSI	B	0.01%
SIRI	C	0.01%
NFG	A	0.01%
THO	B	0.01%
EDR	A	0.01%
TPG	A	0.01%
FOX	A	0.01%
HALO	F	0.01%
ETSY	D	0.01%
IVZ	B	0.01%
RMBS	B	0.01%
WTS	B	0.01%
VNT	C	0.01%
JHG	B	0.01%
FOUR	A	0.01%
PCOR	B	0.01%
SUM	B	0.01%
AUR	C	0.01%
THG	A	0.01%
ALTR	B	0.01%
ESNT	F	0.01%
CROX	D	0.01%
SAIC	F	0.01%
CHX	C	0.01%
U	C	0.01%
STWD	C	0.01%
WFRD	D	0.01%
SIGI	C	0.01%
BPMC	B	0.01%
LFUS	D	0.01%
IDA	A	0.01%
NOVT	D	0.01%
LYFT	C	0.01%
UHAL	D	0.01%
SITE	F	0.01%
ESI	B	0.01%
GBCI	B	0.01%
BBWI	C	0.01%
MSA	F	0.01%
QRVO	F	0.01%
MAT	D	0.01%
DBX	B	0.01%
COLD	D	0.01%
NOV	C	0.01%
COKE	C	0.01%
CFLT	B	0.01%
BFAM	D	0.01%
MTN	C	0.01%
DOCS	C	0.01%
VNO	C	0.01%
DINO	D	0.01%
MTH	D	0.01%
OMF	A	0.01%
BIO	C	0.01%
LSTR	D	0.01%
SPSC	D	0.01%
MTDR	B	0.01%
FYBR	C	0.01%
ONB	C	0.01%
STAG	D	0.01%
ELAN	D	0.01%
WSC	F	0.01%
H	B	0.01%
RHP	B	0.01%
FAF	A	0.01%
ELF	C	0.01%
DAR	C	0.01%
MOD	A	0.01%
AXS	A	0.01%
RGEN	D	0.01%
LSCC	D	0.01%
AZEK	A	0.01%
LNW	F	0.01%
ALV	C	0.01%
AGNC	C	0.01%
BPOP	C	0.01%
HLNE	B	0.01%
BEN	C	0.01%
FCN	F	0.01%
EXLS	B	0.01%
ALK	B	0.01%
CGNX	D	0.01%
GNTX	C	0.01%
VMI	B	0.01%
RYAN	A	0.01%
MTSI	B	0.01%
ANF	F	0.01%
RIVN	F	0.01%
GXO	B	0.01%
MKSI	C	0.01%
ESAB	C	0.01%
CMC	B	0.01%
TMHC	C	0.01%
FMC	D	0.01%
FR	D	0.01%
RLI	A	0.01%
OSK	C	0.01%
GTLS	A	0.01%
WEX	D	0.01%
S	B	0.01%
ATI	C	0.01%
APG	B	0.01%
JAZZ	B	0.01%
MTCH	D	0.01%
RHI	C	0.01%
CRBG	B	0.01%
OLED	F	0.01%
LPX	B	0.01%
CVLT	B	0.01%
WH	B	0.01%
G	B	0.01%
MIDD	C	0.01%
ESTC	C	0.01%
MASI	B	0.01%
JXN	C	0.01%
TREX	C	0.01%
GTLB	B	0.01%
SMAR	B	0.01%
MEDP	D	0.01%
BSY	F	0.01%
PB	B	0.01%
KEX	B	0.01%
ITCI	C	0.01%
HII	F	0.01%
UFPI	C	0.01%
GKOS	B	0.01%
BWA	D	0.01%
KBR	F	0.01%
SSD	F	0.01%
BERY	C	0.01%
ADC	A	0.01%
HRB	D	0.01%
CZR	F	0.01%
VOYA	B	0.01%
CE	F	0.01%
APA	D	0.01%
SNV	C	0.01%
CHE	D	0.01%
ENSG	C	0.01%
CHRD	D	0.01%
ONTO	F	0.01%
FLS	B	0.01%
SSB	B	0.01%
ENPH	F	0.01%
NNN	C	0.01%
SEIC	B	0.01%
NYT	D	0.01%
WTFC	A	0.01%
ACI	C	0.01%
AAON	B	0.01%
UWMC	D	0.0%
UHAL	D	0.0%
BLCO	B	0.0%
CWEN	C	0.0%
CNA	C	0.0%
LEN	D	0.0%
BIRK	D	0.0%
DJT	C	0.0%
INFA	D	0.0%
LBRDA	C	0.0%
IMVT	F	0.0%
REYN	D	0.0%
LEVI	F	0.0%
RKT	F	0.0%
CLVT	D	0.0%
LCID	F	0.0%
IGT	F	0.0%
PPC	C	0.0%
SMMT	D	0.0%
RCM	A	0.0%
KNTK	A	0.0%
CWEN	C	0.0%
CPRI	F	0.0%
BBIO	F	0.0%
COTY	F	0.0%
AGR	A	0.0%
STNG	F	0.0%
BOKF	B	0.0%

GUSA Underweight 12 Positions Relative to RAFE

Symbol	Grade	Weight
LUMN	C	-0.22%
KSS	F	-0.12%
AVT	C	-0.08%
DXC	B	-0.06%
KD	B	-0.05%
GT	C	-0.05%
NWL	C	-0.04%
XRX	F	-0.04%
FL	F	-0.04%
WU	F	-0.03%
AAP	D	-0.03%
MAN	F	-0.02%