HDG vs. RWJ ETF Comparison

Comparison of ProShares Hedge Replication ETF (HDG) to RevenueShares Small Cap (RWJ)

HDG

ProShares Hedge Replication ETF

HDG Description

The investment seeks investment results before fees and expenses that track the performance of the Merrill Lynch Factor Model-Exchange Series. The fund invests in securities and derivatives that ProShare Advisors believes, in combination, should track the performance of the Benchmark. The Benchmark, established by Merrill Lynch International, seeks to provide the risk and return characteristics of the hedge fund asset class by targeting a high correlation to the HFRI Fund Weighted Composite Index. The HFRI is designed to reflect hedge fund industry performance through an equally weighted composite of over 2000 constituent funds. It is non-diversified.

Grade (RS Rating)

Last Trade

$48.85

Average Daily Volume

1,627

Number of Holdings ^*

1766

* may have additional holdings in another (foreign) market

RWJ

RevenueShares Small Cap

RWJ Description

The investment seeks outperform the total return performance of the S&P SmallCap 600Â® Index, the fund's benchmark index. The fund seeks to achieve its investment objective by attempting to replicate the portfolio of the RevenueShares Small Cap IndexTM (the "underlying index"). The underlying index is constructed by re-weighting the constituent securities of the benchmark index according to the revenue earned by the companies in the benchmark index, subject to certain asset diversification requirements. The fund will invest at least 80% of its net assets in the securities of small capitalization companies included in the benchmark index.

Grade (RS Rating)

Last Trade

$40.07

Average Daily Volume

106,455

Number of Holdings ^*

579

* may have additional holdings in another (foreign) market

Performance

Period	HDG	RWJ
30 Days	0.25%	-1.51%
60 Days	0.56%	-1.30%
90 Days	0.07%	-6.09%
12 Months	5.28%	7.29%

530 Overlapping Holdings

Symbol	Grade	Weight in HDG	Weight in RWJ	Overlap
AAT	B	0.01%	0.03%	0.01%
ABCB	C	0.02%	0.11%	0.02%
ABG	C	0.03%	1.12%	0.03%
ABM	B	0.02%	0.63%	0.02%
ABR	B	0.02%	0.12%	0.02%
ACA	D	0.03%	0.18%	0.03%
ACIW	A	0.03%	0.12%	0.03%
ACLS	B	0.03%	0.09%	0.03%
ADUS	B	0.01%	0.08%	0.01%
AEIS	B	0.03%	0.12%	0.03%
AEO	F	0.03%	0.4%	0.03%
AGYS	A	0.01%	0.02%	0.01%
AHCO	C	0.01%	0.21%	0.01%
AHH	C	0.01%	0.05%	0.01%
AIN	D	0.02%	0.09%	0.02%
AIR	A	0.02%	0.18%	0.02%
AKR	A	0.01%	0.03%	0.01%
ALEX	B	0.01%	0.02%	0.01%
ALG	F	0.01%	0.12%	0.01%
ALGT	F	0.01%	0.19%	0.01%
ALKS	D	0.03%	0.13%	0.03%
ALRM	D	0.02%	0.07%	0.02%
AMBC	D	0.0%	0.02%	0.0%
AMCX	F	0.0%	0.12%	0.0%
AMN	F	0.01%	0.25%	0.01%
AMPH	F	0.01%	0.05%	0.01%
AMR	F	0.02%	0.24%	0.02%
AMSF	D	0.01%	0.02%	0.01%
AMWD	F	0.01%	0.13%	0.01%
ANDE	D	0.01%	1.04%	0.01%
ANF	B	0.06%	0.31%	0.06%
ANIP	C	0.01%	0.04%	0.01%
AOSL	A	0.01%	0.06%	0.01%
APAM	C	0.02%	0.08%	0.02%
APLE	C	0.02%	0.1%	0.02%
APOG	C	0.01%	0.1%	0.01%
ARCB	D	0.02%	0.33%	0.02%
ARCH	F	0.02%	0.21%	0.02%
ARI	D	0.01%	0.06%	0.01%
ARLO	B	0.01%	0.04%	0.01%
AROC	C	0.02%	0.08%	0.02%
ASIX	D	0.0%	0.11%	0.0%
ASO	F	0.03%	0.47%	0.03%
ASTE	F	0.0%	0.09%	0.0%
ASTH	B	0.01%	0.11%	0.01%
ATEN	C	0.01%	0.02%	0.01%
ATGE	A	0.02%	0.12%	0.02%
ATI	C	0.05%	0.32%	0.05%
AUB	C	0.02%	0.08%	0.02%
AVA	C	0.02%	0.14%	0.02%
AVAV	C	0.03%	0.05%	0.03%
AVNS	C	0.01%	0.05%	0.01%
AWR	D	0.02%	0.04%	0.02%
AX	C	0.02%	0.13%	0.02%
AXL	D	0.01%	0.48%	0.01%
AZZ	D	0.02%	0.12%	0.02%
B	B	0.01%	0.12%	0.01%
BANC	D	0.01%	0.06%	0.01%
BANF	C	0.01%	0.06%	0.01%
BANR	B	0.01%	0.06%	0.01%
BCC	F	0.03%	0.48%	0.03%
BCPC	B	0.03%	0.07%	0.03%
BDN	D	0.01%	0.04%	0.01%
BFS	C	0.0%	0.02%	0.0%
BGC	C	0.02%	0.16%	0.02%
BGS	D	0.0%	0.15%	0.0%
BHE	B	0.01%	0.21%	0.01%
BHLB	C	0.01%	0.05%	0.01%
BJRI	B	0.01%	0.1%	0.01%
BKE	D	0.01%	0.1%	0.01%
BKU	C	0.01%	0.15%	0.01%
BL	D	0.02%	0.05%	0.02%
BLFS	B	0.0%	0.01%	0.0%
BLMN	F	0.01%	0.34%	0.01%
BMI	D	0.04%	0.06%	0.04%
BOH	D	0.02%	0.08%	0.02%
BOOT	B	0.03%	0.13%	0.03%
BOX	D	0.03%	0.08%	0.03%
BRKL	D	0.01%	0.05%	0.01%
BSIG	C	0.0%	0.03%	0.0%
BTU	F	0.02%	0.32%	0.02%
BXMT	C	0.02%	0.16%	0.02%
CAKE	B	0.01%	0.27%	0.01%
CAL	D	0.01%	0.21%	0.01%
CALM	B	0.02%	0.18%	0.02%
CALX	C	0.01%	0.08%	0.01%
CARG	B	0.02%	0.07%	0.02%
CARS	B	0.01%	0.05%	0.01%
CASH	B	0.01%	0.06%	0.01%
CATY	B	0.02%	0.11%	0.02%
CBRL	F	0.01%	0.24%	0.01%
CBU	C	0.02%	0.07%	0.02%
CCOI	D	0.02%	0.08%	0.02%
CCRN	F	0.0%	0.12%	0.0%
CCS	C	0.02%	0.28%	0.02%
CEIX	B	0.02%	0.19%	0.02%
CENT	F	0.0%	0.13%	0.0%
CENTA	F	0.01%	0.13%	0.01%
CENX	C	0.01%	0.17%	0.01%
CEVA	D	0.0%	0.01%	0.0%
CFFN	B	0.0%	0.03%	0.0%
CHCO	B	0.01%	0.03%	0.01%
CHCT	D	0.0%	0.01%	0.0%
CHEF	B	0.01%	0.28%	0.01%
CHUY	F	0.0%	0.03%	0.0%
CLB	B	0.01%	0.04%	0.01%
CLW	C	0.01%	0.15%	0.01%
CMP	F	0.0%	0.08%	0.0%
CNK	A	0.02%	0.27%	0.02%
CNMD	D	0.01%	0.09%	0.01%
CNS	B	0.01%	0.04%	0.01%
CNSL	B	0.0%	0.08%	0.0%
CNXN	C	0.0%	0.21%	0.0%
COHU	B	0.01%	0.04%	0.01%
COLL	D	0.01%	0.04%	0.01%
COOP	C	0.04%	0.15%	0.04%
CORT	B	0.02%	0.04%	0.02%
CPF	A	0.0%	0.03%	0.0%
CPK	C	0.02%	0.05%	0.02%
CPRX	C	0.01%	0.03%	0.01%
CRC	B	0.03%	0.19%	0.03%
CRK	C	0.01%	0.11%	0.01%
CRS	B	0.04%	0.21%	0.04%
CRSR	F	0.0%	0.11%	0.0%
CRVL	C	0.02%	0.06%	0.02%
CSGS	F	0.01%	0.09%	0.01%
CSR	B	0.01%	0.02%	0.01%
CTKB	D	0.0%	0.01%	0.0%
CTRE	C	0.02%	0.02%	0.02%
CTS	B	0.01%	0.04%	0.01%
CUBI	C	0.01%	0.12%	0.01%
CVBF	C	0.02%	0.05%	0.02%
CVCO	D	0.02%	0.13%	0.02%
CVGW	F	0.0%	0.06%	0.0%
CVI	F	0.01%	0.66%	0.01%
CWK	C	0.01%	0.69%	0.01%
CWT	C	0.02%	0.07%	0.02%
CXM	D	0.01%	0.06%	0.01%
CXW	D	0.01%	0.15%	0.01%
DAN	F	0.01%	0.8%	0.01%
DBI	F	0.0%	0.24%	0.0%
DCOM	C	0.0%	0.05%	0.0%
DDD	F	0.0%	0.03%	0.0%
DEA	B	0.01%	0.02%	0.01%
DEI	C	0.01%	0.08%	0.01%
DFIN	D	0.01%	0.06%	0.01%
DGII	D	0.01%	0.03%	0.01%
DIN	F	0.0%	0.06%	0.0%
DIOD	D	0.02%	0.11%	0.02%
DLX	B	0.01%	0.16%	0.01%
DNOW	C	0.01%	0.18%	0.01%
DOCN	D	0.01%	0.05%	0.01%
DORM	B	0.02%	0.15%	0.02%
DRH	D	0.01%	0.08%	0.01%
DRQ	D	0.0%	0.03%	0.0%
DVAX	F	0.01%	0.02%	0.01%
DXPE	D	0.0%	0.12%	0.0%
DY	B	0.03%	0.31%	0.03%
EAT	B	0.02%	0.35%	0.02%
ECPG	D	0.01%	0.09%	0.01%
EFC	B	0.01%	0.03%	0.01%
EGBN	D	0.0%	0.05%	0.0%
EIG	C	0.01%	0.07%	0.01%
EMBC	C	0.0%	0.08%	0.0%
ENR	C	0.01%	0.23%	0.01%
ENSG	B	0.05%	0.29%	0.05%
ENV	C	0.02%	0.1%	0.02%
ENVA	C	0.01%	0.17%	0.01%
EPAC	B	0.01%	0.04%	0.01%
EPC	B	0.01%	0.18%	0.01%
EPRT	A	0.03%	0.03%	0.03%
ESE	C	0.02%	0.07%	0.02%
ETD	D	0.0%	0.05%	0.0%
EVTC	F	0.01%	0.06%	0.01%
EXPI	D	0.01%	0.33%	0.01%
EXTR	C	0.01%	0.1%	0.01%
EYE	D	0.01%	0.15%	0.01%
FBK	C	0.01%	0.06%	0.01%
FBNC	C	0.01%	0.04%	0.01%
FBP	A	0.02%	0.09%	0.02%
FCF	C	0.01%	0.05%	0.01%
FCPT	B	0.02%	0.02%	0.02%
FDP	F	0.01%	0.32%	0.01%
FELE	D	0.03%	0.15%	0.03%
FFBC	C	0.01%	0.09%	0.01%
FIZZ	B	0.01%	0.08%	0.01%
FL	C	0.01%	0.66%	0.01%
FLGT	F	0.0%	0.02%	0.0%
FN	B	0.06%	0.21%	0.06%
FORM	B	0.03%	0.05%	0.03%
FOXF	D	0.01%	0.11%	0.01%
FSS	D	0.03%	0.13%	0.03%
FTDR	C	0.02%	0.13%	0.02%
FUL	D	0.03%	0.26%	0.03%
FULT	C	0.02%	0.12%	0.02%
FWRD	D	0.0%	0.12%	0.0%
GBX	D	0.01%	0.28%	0.01%
GDEN	D	0.0%	0.07%	0.0%
GDOT	F	0.0%	0.12%	0.0%
GEO	C	0.01%	0.18%	0.01%
GES	F	0.0%	0.21%	0.0%
GFF	D	0.02%	0.19%	0.02%
GIII	F	0.01%	0.24%	0.01%
GKOS	A	0.04%	0.02%	0.02%
GMS	F	0.02%	0.36%	0.02%
GNL	D	0.01%	0.05%	0.01%
GNW	D	0.02%	0.53%	0.02%
GOGO	D	0.0%	0.03%	0.0%
GPI	D	0.03%	1.31%	0.03%
GPRE	F	0.01%	0.24%	0.01%
GRBK	B	0.01%	0.13%	0.01%
GSHD	D	0.01%	0.02%	0.01%
GTY	D	0.01%	0.01%	0.01%
GVA	B	0.02%	0.27%	0.02%
HAFC	C	0.0%	0.03%	0.0%
HAIN	D	0.0%	0.13%	0.0%
HASI	C	0.02%	0.03%	0.02%
HAYN	C	0.01%	0.05%	0.01%
HBI	C	0.01%	0.4%	0.01%
HCC	D	0.02%	0.12%	0.02%
HCI	D	0.0%	0.05%	0.0%
HCSG	D	0.01%	0.13%	0.01%
HFWA	C	0.0%	0.02%	0.0%
HI	F	0.02%	0.22%	0.02%
HIBB	A	0.01%	0.13%	0.01%
HLIT	B	0.01%	0.04%	0.01%
HLX	B	0.01%	0.11%	0.01%
HMN	D	0.01%	0.11%	0.01%
HNI	C	0.01%	0.19%	0.01%
HOPE	C	0.01%	0.09%	0.01%
HP	D	0.02%	0.22%	0.02%
HPP	F	0.0%	0.07%	0.0%
HRMY	C	0.01%	0.05%	0.01%
HSII	C	0.0%	0.08%	0.0%
HSTM	B	0.0%	0.02%	0.0%
HTH	C	0.01%	0.11%	0.01%
HTLD	C	0.0%	0.09%	0.0%
HUBG	B	0.02%	0.31%	0.02%
HVT	F	0.0%	0.05%	0.0%
HWKN	A	0.01%	0.07%	0.01%
HZO	C	0.0%	0.19%	0.0%
IBP	D	0.03%	0.19%	0.03%
IBTX	B	0.01%	0.07%	0.01%
ICHR	C	0.01%	0.06%	0.01%
IDCC	B	0.02%	0.05%	0.02%
IIIN	D	0.0%	0.04%	0.0%
IIPR	B	0.02%	0.02%	0.02%
INDB	D	0.01%	0.07%	0.01%
INN	D	0.0%	0.06%	0.0%
INVA	B	0.01%	0.02%	0.01%
IOSP	C	0.02%	0.15%	0.02%
IPAR	D	0.02%	0.11%	0.02%
IRWD	F	0.01%	0.03%	0.01%
ITGR	C	0.03%	0.12%	0.03%
ITRI	D	0.03%	0.16%	0.03%
JACK	F	0.01%	0.11%	0.01%
JBGS	B	0.01%	0.05%	0.01%
JBLU	C	0.01%	0.74%	0.01%
JBSS	D	0.01%	0.08%	0.01%
JBT	C	0.02%	0.12%	0.02%
JJSF	B	0.02%	0.12%	0.02%
JOE	C	0.01%	0.03%	0.01%
JXN	C	0.04%	0.28%	0.04%
KALU	D	0.01%	0.22%	0.01%
KAR	C	0.01%	0.12%	0.01%
KELYA	D	0.0%	0.36%	0.0%
KFY	B	0.02%	0.21%	0.02%
KLIC	B	0.02%	0.06%	0.02%
KMT	F	0.01%	0.15%	0.01%
KN	B	0.01%	0.06%	0.01%
KOP	F	0.01%	0.15%	0.01%
KREF	F	0.0%	0.05%	0.0%
KRYS	B	0.03%	0.01%	0.01%
KTB	D	0.03%	0.19%	0.03%
KW	C	0.01%	0.04%	0.01%
KWR	D	0.02%	0.14%	0.02%
LBRT	C	0.02%	0.34%	0.02%
LCII	F	0.02%	0.28%	0.02%
LESL	F	0.01%	0.1%	0.01%
LGIH	F	0.01%	0.16%	0.01%
LGND	B	0.01%	0.01%	0.01%
LKFN	C	0.01%	0.03%	0.01%
LMAT	B	0.01%	0.02%	0.01%
LNN	B	0.01%	0.05%	0.01%
LPG	D	0.01%	0.04%	0.01%
LQDT	B	0.0%	0.03%	0.0%
LRN	B	0.02%	0.15%	0.02%
LTC	A	0.01%	0.01%	0.01%
LUMN	F	0.01%	0.92%	0.01%
LXP	B	0.02%	0.03%	0.02%
LZB	B	0.01%	0.17%	0.01%
MAC	C	0.02%	0.07%	0.02%
MARA	B	0.03%	0.04%	0.03%
MATV	D	0.01%	0.16%	0.01%
MATW	F	0.01%	0.13%	0.01%
MATX	A	0.03%	0.26%	0.03%
MC	C	0.03%	0.07%	0.03%
MCRI	B	0.01%	0.04%	0.01%
MCY	C	0.01%	0.37%	0.01%
MD	F	0.0%	0.16%	0.0%
MGEE	D	0.02%	0.05%	0.02%
MGPI	D	0.01%	0.06%	0.01%
MGY	C	0.03%	0.1%	0.03%
MHO	C	0.02%	0.3%	0.02%
MLAB	F	0.0%	0.02%	0.0%
MLI	C	0.04%	0.26%	0.04%
MLKN	C	0.01%	0.28%	0.01%
MMI	D	0.01%	0.05%	0.01%
MMSI	A	0.03%	0.1%	0.03%
MNRO	D	0.0%	0.09%	0.0%
MODG	D	0.02%	0.33%	0.02%
MOG.A	C	0.03%	0.27%	0.03%
MOV	F	0.0%	0.05%	0.0%
MRTN	C	0.01%	0.08%	0.01%
MSEX	D	0.01%	0.01%	0.01%
MTH	D	0.04%	0.48%	0.04%
MTRN	D	0.02%	0.12%	0.02%
MTX	B	0.02%	0.16%	0.02%
MXL	B	0.01%	0.05%	0.01%
MYE	F	0.0%	0.06%	0.0%
MYGN	B	0.01%	0.06%	0.01%
MYRG	F	0.02%	0.27%	0.02%
NABL	A	0.01%	0.03%	0.01%
NARI	C	0.02%	0.04%	0.02%
NAVI	D	0.01%	0.37%	0.01%
NBHC	A	0.01%	0.05%	0.01%
NBR	D	0.0%	0.26%	0.0%
NBTB	B	0.01%	0.05%	0.01%
NEO	D	0.01%	0.05%	0.01%
NGVT	F	0.01%	0.12%	0.01%
NHC	A	0.01%	0.09%	0.01%
NMIH	A	0.02%	0.05%	0.02%
NOG	D	0.02%	0.14%	0.02%
NPK	D	0.0%	0.03%	0.0%
NPO	D	0.02%	0.08%	0.02%
NSIT	B	0.04%	0.69%	0.04%
NTCT	D	0.01%	0.06%	0.01%
NUS	F	0.0%	0.12%	0.0%
NVEE	D	0.01%	0.07%	0.01%
NVRI	B	0.0%	0.17%	0.0%
NWBI	B	0.01%	0.06%	0.01%
NWN	F	0.01%	0.09%	0.01%
NX	F	0.01%	0.08%	0.01%
NXRT	B	0.01%	0.02%	0.01%
ODP	D	0.01%	0.58%	0.01%
OFG	C	0.01%	0.06%	0.01%
OI	F	0.01%	0.48%	0.01%
OII	C	0.02%	0.2%	0.02%
OMCL	F	0.01%	0.08%	0.01%
OMI	F	0.01%	0.72%	0.01%
OSIS	C	0.02%	0.11%	0.02%
OTTR	C	0.02%	0.1%	0.02%
OUT	C	0.01%	0.14%	0.01%
OXM	D	0.01%	0.12%	0.01%
PAHC	C	0.0%	0.08%	0.0%
PARR	D	0.01%	0.64%	0.01%
PATK	C	0.02%	0.27%	0.02%
PBH	C	0.02%	0.09%	0.02%
PBI	C	0.01%	0.23%	0.01%
PCRX	D	0.01%	0.05%	0.01%
PDCO	D	0.01%	0.52%	0.01%
PDFS	B	0.01%	0.01%	0.01%
PDFS	B	0.01%	0.01%	0.01%
PEB	D	0.01%	0.1%	0.01%
PECO	C	0.03%	0.05%	0.03%
PFBC	C	0.01%	0.04%	0.01%
PFS	D	0.01%	0.05%	0.01%
PIPR	A	0.03%	0.11%	0.03%
PJT	A	0.02%	0.1%	0.02%
PLAB	F	0.01%	0.07%	0.01%
PLAY	F	0.01%	0.14%	0.01%
PLMR	C	0.01%	0.03%	0.01%
PLUS	C	0.01%	0.16%	0.01%
PLXS	C	0.02%	0.3%	0.02%
PMT	D	0.01%	0.11%	0.01%
POWL	D	0.01%	0.06%	0.01%
PPBI	C	0.01%	0.03%	0.01%
PRA	F	0.0%	0.09%	0.0%
PRAA	F	0.01%	0.07%	0.01%
PRDO	C	0.01%	0.05%	0.01%
PRFT	B	0.02%	0.07%	0.02%
PRG	C	0.01%	0.18%	0.01%
PRGS	B	0.02%	0.05%	0.02%
PRK	A	0.01%	0.04%	0.01%
PRLB	D	0.01%	0.04%	0.01%
PRVA	D	0.01%	0.12%	0.01%
PSMT	C	0.01%	0.36%	0.01%
PTEN	D	0.02%	0.38%	0.02%
PUMP	D	0.01%	0.13%	0.01%
PZZA	F	0.01%	0.16%	0.01%
QNST	C	0.01%	0.04%	0.01%
RAMP	D	0.01%	0.05%	0.01%
RC	D	0.01%	0.09%	0.01%
RCUS	D	0.01%	0.02%	0.01%
RDN	B	0.03%	0.1%	0.03%
RDNT	B	0.02%	0.12%	0.02%
RES	F	0.0%	0.12%	0.0%
REX	D	0.0%	0.06%	0.0%
REZI	C	0.02%	0.46%	0.02%
RGNX	F	0.0%	0.01%	0.0%
RGR	F	0.01%	0.04%	0.01%
RILY	F	0.0%	0.1%	0.0%
RNST	C	0.01%	0.07%	0.01%
ROCK	F	0.01%	0.1%	0.01%
ROG	C	0.01%	0.07%	0.01%
ROIC	C	0.01%	0.02%	0.01%
RUSHA	F	0.02%	0.6%	0.02%
RWT	B	0.01%	0.06%	0.01%
RXO	A	0.02%	0.35%	0.02%
SABR	F	0.01%	0.22%	0.01%
SAFT	D	0.01%	0.07%	0.01%
SAH	D	0.01%	1.02%	0.01%
SANM	B	0.02%	0.6%	0.02%
SATS	B	0.01%	1.51%	0.01%
SBCF	C	0.01%	0.06%	0.01%
SBH	D	0.01%	0.28%	0.01%
SBSI	C	0.01%	0.03%	0.01%
SCHL	D	0.01%	0.13%	0.01%
SCL	C	0.01%	0.16%	0.01%
SCSC	C	0.01%	0.26%	0.01%
SCVL	B	0.0%	0.09%	0.0%
SDGR	F	0.01%	0.01%	0.01%
SEM	B	0.03%	0.51%	0.03%
SFBS	C	0.02%	0.07%	0.02%
SFNC	C	0.01%	0.11%	0.01%
SGH	B	0.01%	0.09%	0.01%
SHAK	D	0.02%	0.08%	0.02%
SHEN	D	0.01%	0.02%	0.01%
SHO	C	0.01%	0.07%	0.01%
SHOO	B	0.02%	0.15%	0.02%
SIG	D	0.03%	0.52%	0.03%
SITC	A	0.02%	0.04%	0.02%
SITM	B	0.02%	0.01%	0.01%
SIX	B	0.02%	0.11%	0.02%
SJW	D	0.01%	0.05%	0.01%
SKT	C	0.02%	0.04%	0.02%
SKYW	B	0.02%	0.24%	0.02%
SLCA	B	0.01%	0.11%	0.01%
SLG	B	0.02%	0.06%	0.02%
SLP	C	0.01%	0.0%	0.0%
SLVM	B	0.02%	0.27%	0.02%
SM	D	0.03%	0.19%	0.03%
SMP	F	0.0%	0.1%	0.0%
SMPL	D	0.02%	0.1%	0.02%
SMTC	D	0.01%	0.06%	0.01%
SNCY	D	0.0%	0.1%	0.0%
SNEX	C	0.01%	0.14%	0.01%
SONO	F	0.01%	0.11%	0.01%
SPNT	D	0.01%	0.21%	0.01%
SPSC	C	0.05%	0.04%	0.04%
SPTN	F	0.0%	0.72%	0.0%
SPWR	C	0.0%	0.12%	0.0%
SSTK	F	0.01%	0.06%	0.01%
STAA	C	0.02%	0.03%	0.02%
STBA	B	0.01%	0.04%	0.01%
STC	C	0.01%	0.17%	0.01%
STEP	A	0.02%	0.06%	0.02%
STRA	C	0.02%	0.09%	0.02%
SUPN	D	0.01%	0.05%	0.01%
SVC	D	0.01%	0.14%	0.01%
SXC	D	0.01%	0.16%	0.01%
SXI	D	0.01%	0.05%	0.01%
SXT	C	0.02%	0.11%	0.02%
TALO	D	0.01%	0.14%	0.01%
TBBK	B	0.01%	0.05%	0.01%
TDS	B	0.01%	0.38%	0.01%
TDW	C	0.03%	0.08%	0.03%
TGI	B	0.01%	0.11%	0.01%
THRM	F	0.01%	0.11%	0.01%
THRY	F	0.0%	0.06%	0.0%
THS	C	0.01%	0.27%	0.01%
TILE	D	0.01%	0.09%	0.01%
TMP	D	0.0%	0.02%	0.0%
TNC	D	0.01%	0.09%	0.01%
TPH	C	0.02%	0.29%	0.02%
TRMK	C	0.01%	0.09%	0.01%
TRN	B	0.02%	0.25%	0.02%
TRST	C	0.0%	0.02%	0.0%
TRUP	B	0.01%	0.09%	0.01%
TTGT	B	0.01%	0.02%	0.01%
TTMI	B	0.01%	0.19%	0.01%
TWI	F	0.0%	0.13%	0.0%
UCBI	C	0.02%	0.11%	0.02%
UCTT	B	0.01%	0.13%	0.01%
UE	A	0.01%	0.03%	0.01%
UFCS	C	0.0%	0.09%	0.0%
UFPT	B	0.01%	0.03%	0.01%
UHT	B	0.0%	0.01%	0.0%
UNF	C	0.02%	0.18%	0.02%
UNFI	C	0.01%	2.26%	0.01%
UNIT	F	0.0%	0.09%	0.0%
URBN	C	0.02%	0.41%	0.02%
USNA	F	0.0%	0.07%	0.0%
USPH	F	0.01%	0.05%	0.01%
UTL	C	0.01%	0.04%	0.01%
UVV	D	0.01%	0.21%	0.01%
VBTX	C	0.01%	0.06%	0.01%
VCEL	C	0.02%	0.02%	0.02%
VECO	B	0.02%	0.05%	0.02%
VGR	C	0.01%	0.11%	0.01%
VIAV	F	0.01%	0.07%	0.01%
VICR	F	0.01%	0.03%	0.01%
VIR	F	0.01%	0.01%	0.01%
VREX	F	0.0%	0.06%	0.0%
VRRM	B	0.03%	0.07%	0.03%
VRTS	C	0.01%	0.07%	0.01%
VSTO	A	0.01%	0.19%	0.01%
VTOL	B	0.01%	0.1%	0.01%
VVI	D	0.0%	0.09%	0.0%
WABC	C	0.01%	0.02%	0.01%
WAFD	C	0.01%	0.09%	0.01%
WD	B	0.02%	0.08%	0.02%
WDFC	F	0.02%	0.04%	0.02%
WERN	D	0.02%	0.24%	0.02%
WGO	F	0.01%	0.22%	0.01%
WHD	B	0.02%	0.09%	0.02%
WIRE	B	0.03%	0.19%	0.03%
WNC	D	0.01%	0.19%	0.01%
WOR	F	0.01%	0.15%	0.01%
WRLD	D	0.0%	0.04%	0.0%
WS	C	0.01%	0.26%	0.01%
WSFS	A	0.02%	0.1%	0.02%
WSR	A	0.0%	0.01%	0.0%
WWW	B	0.01%	0.17%	0.01%
XHR	C	0.01%	0.08%	0.01%
XNCR	F	0.01%	0.01%	0.01%
XPEL	F	0.01%	0.03%	0.01%
XRX	F	0.01%	0.46%	0.01%
YELP	F	0.02%	0.1%	0.02%
ZEUS	F	0.0%	0.15%	0.0%

HDG Overweight 1236 Positions Relative to RWJ

Symbol	Grade	Weight
SMCI	C	0.31%
MSTR	C	0.16%
CVNA	B	0.09%
FIX	D	0.08%
ELF	B	0.08%
LNW	B	0.07%
INSM	B	0.07%
CHRD	C	0.07%
ONTO	B	0.07%
APG	B	0.06%
PR	C	0.06%
SFM	A	0.06%
PCVX	B	0.06%
WFRD	C	0.06%
UFPI	D	0.05%
BPMC	B	0.05%
HALO	A	0.05%
MTDR	D	0.05%
ITCI	C	0.05%
HQY	A	0.05%
SSD	F	0.05%
AIT	C	0.05%
BRBR	C	0.05%
CADE	C	0.04%
VKTX	D	0.04%
ONB	C	0.04%
CVLT	A	0.04%
TRNO	B	0.04%
QLYS	D	0.04%
MMS	B	0.04%
ALTR	B	0.04%
RVMD	C	0.04%
LNTH	B	0.04%
CIVI	D	0.04%
SIGI	F	0.04%
CWST	B	0.04%
CYTK	D	0.04%
SSB	C	0.04%
ETRN	D	0.04%
TMHC	C	0.04%
RHP	D	0.04%
BECN	D	0.04%
NOVT	B	0.04%
AAON	B	0.04%
ESNT	B	0.04%
MUR	D	0.04%
MTSI	A	0.04%
RMBS	D	0.04%
FLR	B	0.04%
GTLS	D	0.04%
DUOL	B	0.04%
CMC	C	0.04%
CHX	C	0.04%
WK	D	0.03%
LANC	C	0.03%
UMBF	C	0.03%
SKY	F	0.03%
HRI	D	0.03%
BKH	C	0.03%
FFIN	C	0.03%
CNX	C	0.03%
BDC	B	0.03%
CRDO	B	0.03%
AVNT	C	0.03%
POWI	F	0.03%
STNG	B	0.03%
KNF	C	0.03%
ORA	C	0.03%
HWC	C	0.03%
GBCI	C	0.03%
ASGN	D	0.03%
CSWI	B	0.03%
NJR	C	0.03%
IRT	A	0.03%
HAE	D	0.03%
UBSI	C	0.03%
MDGL	B	0.03%
ENS	B	0.03%
ZWS	D	0.03%
VAL	B	0.03%
SUM	D	0.03%
AMKR	B	0.03%
POR	C	0.03%
HLNE	B	0.03%
HOMB	C	0.03%
SWX	D	0.03%
BCO	B	0.03%
GATX	B	0.03%
OPCH	F	0.03%
TMDX	A	0.03%
KBH	B	0.03%
KRG	B	0.03%
APPF	B	0.03%
EXPO	B	0.03%
COKE	A	0.03%
ATKR	D	0.03%
TENB	D	0.03%
PBF	D	0.03%
WTS	D	0.03%
VRNS	B	0.03%
EXLS	B	0.03%
CBT	D	0.03%
MOD	C	0.03%
FIBK	C	0.02%
HELE	F	0.02%
EVH	F	0.02%
IDYA	F	0.02%
ADNT	F	0.02%
PGNY	D	0.02%
GERN	C	0.02%
UEC	D	0.02%
ACVA	C	0.02%
ADMA	A	0.02%
CLDX	D	0.02%
PAGS	D	0.02%
AI	B	0.02%
PFSI	A	0.02%
ROAD	B	0.02%
INSW	B	0.02%
AGIO	B	0.02%
DYN	B	0.02%
PRCT	D	0.02%
ZETA	B	0.02%
SQSP	A	0.02%
HIMS	C	0.02%
ZD	C	0.02%
TGTX	B	0.02%
GHC	D	0.02%
CSTM	F	0.02%
PTCT	C	0.02%
BE	C	0.02%
KOS	D	0.02%
MQ	D	0.02%
MGRC	D	0.02%
SWTX	D	0.02%
RPD	D	0.02%
RRR	B	0.02%
TGNA	D	0.02%
PRIM	C	0.02%
MWA	C	0.02%
DNLI	B	0.02%
TWST	B	0.02%
VSH	D	0.02%
TCBI	C	0.02%
NHI	A	0.02%
OSCR	D	0.02%
ICFI	B	0.02%
AXSM	B	0.02%
CRNX	C	0.02%
KTOS	B	0.02%
FOLD	F	0.02%
VLY	D	0.02%
SGBX	F	0.02%
CERE	D	0.02%
VC	D	0.02%
BBIO	F	0.02%
BNL	B	0.02%
HL	D	0.02%
LIVN	C	0.02%
ARWR	C	0.02%
ALIT	D	0.02%
IBOC	C	0.02%
GLNG	A	0.02%
NWE	C	0.02%
ASB	C	0.02%
CNO	C	0.02%
CLSK	C	0.02%
HGV	D	0.02%
PCH	F	0.02%
GT	F	0.02%
SR	C	0.02%
PNM	D	0.02%
IRTC	B	0.02%
NSP	F	0.02%
TNET	F	0.02%
GH	C	0.02%
BLKB	C	0.02%
AXNX	B	0.02%
PSN	B	0.02%
RNA	B	0.02%
SYNA	F	0.02%
QTWO	C	0.02%
KAI	B	0.02%
SLAB	F	0.02%
PRMW	C	0.02%
NEOG	C	0.02%
OGS	C	0.02%
SBRA	A	0.02%
STNE	D	0.02%
TEX	D	0.02%
STRL	B	0.02%
CBZ	D	0.02%
ESGR	B	0.02%
ALE	B	0.02%
PI	C	0.02%
CMTG	D	0.01%
TARS	D	0.01%
FG	D	0.01%
ERII	F	0.01%
USLM	B	0.01%
ETWO	D	0.01%
ARQT	B	0.01%
CWH	F	0.01%
BFC	C	0.01%
BRSP	D	0.01%
CDNA	B	0.01%
UDMY	D	0.01%
AUPH	C	0.01%
AMK	B	0.01%
FBMS	C	0.01%
IMAX	B	0.01%
DCO	B	0.01%
SAVA	F	0.01%
CMRE	B	0.01%
MDXG	D	0.01%
HY	B	0.01%
OCUL	B	0.01%
AMRX	C	0.01%
REVG	C	0.01%
BLX	C	0.01%
BXC	F	0.01%
GSAT	D	0.01%
CECO	A	0.01%
PUBM	D	0.01%
MIRM	B	0.01%
BZH	F	0.01%
VZIO	B	0.01%
ECVT	D	0.01%
GRC	B	0.01%
FLNG	B	0.01%
LMND	D	0.01%
WTTR	B	0.01%
PGRE	D	0.01%
LTH	B	0.01%
FA	C	0.01%
FDMT	D	0.01%
NAT	C	0.01%
SRCE	C	0.01%
BBSI	B	0.01%
PRTA	F	0.01%
DAWN	D	0.01%
PDM	B	0.01%
DOLE	C	0.01%
RPAY	B	0.01%
SBOW	B	0.01%
OCFC	C	0.01%
LC	D	0.01%
OBK	C	0.01%
GNK	C	0.01%
ACT	C	0.01%
COUR	F	0.01%
SMMT	C	0.01%
FSLY	F	0.01%
CRGY	B	0.01%
DNUT	F	0.01%
INDI	D	0.01%
TPC	B	0.01%
AGX	B	0.01%
MSGE	D	0.01%
UMH	B	0.01%
QCRH	C	0.01%
ASC	B	0.01%
ATEC	D	0.01%
PLYM	B	0.01%
CMCO	F	0.01%
AUR	C	0.01%
TRNS	D	0.01%
IMKTA	F	0.01%
NRIX	B	0.01%
GABC	A	0.01%
AMRC	D	0.01%
THR	C	0.01%
EWTX	C	0.01%
LGF.A	D	0.01%
NWLI	A	0.01%
PEBO	C	0.01%
WMK	D	0.01%
SILK	B	0.01%
SASR	B	0.01%
BMBL	D	0.01%
SPNS	B	0.01%
HLF	D	0.01%
MRC	C	0.01%
INFN	B	0.01%
COMP	D	0.01%
TRS	D	0.01%
RXRX	D	0.01%
OPEN	F	0.01%
NIC	C	0.01%
WINA	F	0.01%
SKWD	C	0.01%
ATRC	D	0.01%
ACMR	D	0.01%
JBI	F	0.01%
JELD	D	0.01%
SHLS	F	0.01%
PHR	D	0.01%
NTST	D	0.01%
FLNC	F	0.01%
JAMF	D	0.01%
ALKT	C	0.01%
IESC	D	0.01%
ASAN	D	0.01%
LOB	D	0.01%
KROS	F	0.01%
CRAI	B	0.01%
BCRX	B	0.01%
PRM	B	0.01%
VSEC	B	0.01%
AIV	C	0.01%
KFRC	D	0.01%
CNNE	D	0.01%
TCBK	B	0.01%
SCS	B	0.01%
ESRT	C	0.01%
BUSE	C	0.01%
UTZ	D	0.01%
OEC	F	0.01%
BKD	C	0.01%
KYMR	D	0.01%
APPN	D	0.01%
PAR	B	0.01%
ASPN	C	0.01%
OSW	B	0.01%
PRO	D	0.01%
LADR	A	0.01%
PWSC	B	0.01%
NNI	C	0.01%
MORF	B	0.01%
MEG	C	0.01%
ARVN	D	0.01%
LILAK	A	0.01%
ZUO	C	0.01%
VCTR	D	0.01%
NPAB	C	0.01%
UPWK	D	0.01%
SYBT	B	0.01%
RCKT	F	0.01%
NMRK	C	0.01%
CODI	D	0.01%
RKLB	B	0.01%
MNKD	B	0.01%
VITL	A	0.01%
VERA	D	0.01%
INMD	D	0.01%
WRBY	B	0.01%
IMVT	F	0.01%
HEES	D	0.01%
EFSC	C	0.01%
JOBY	D	0.01%
AKRO	C	0.01%
INTA	B	0.01%
EVBG	C	0.01%
KURA	C	0.01%
NVAX	C	0.01%
GEF	F	0.01%
RLJ	D	0.01%
KNTK	A	0.01%
ARDX	C	0.01%
BLBD	B	0.01%
CMPR	C	0.01%
DDS	C	0.01%
YOU	B	0.01%
WSBC	C	0.01%
DK	D	0.01%
DO	B	0.01%
SFL	C	0.01%
VCYT	C	0.01%
SNDX	D	0.01%
HLIO	D	0.01%
DHT	D	0.01%
ARRY	F	0.01%
AGM	C	0.01%
GPOR	D	0.01%
SPT	D	0.01%
RXST	C	0.01%
NTB	B	0.01%
IVT	C	0.01%
TNK	B	0.01%
GOGL	C	0.01%
NSSC	B	0.01%
MGNI	B	0.01%
UPST	F	0.01%
FLYW	F	0.01%
BEAM	D	0.01%
HURN	C	0.01%
RIOT	F	0.01%
PTGX	B	0.01%
TROX	D	0.01%
SGRY	F	0.01%
HTLF	B	0.01%
LAUR	C	0.01%
TOWN	C	0.01%
IOVA	F	0.01%
FRME	C	0.01%
GOLF	C	0.01%
EQC	B	0.01%
ACAD	D	0.01%
CDE	B	0.01%
VRNT	C	0.01%
BRZE	D	0.01%
NUVL	C	0.01%
AMBA	C	0.01%
FRSH	D	0.01%
NTLA	D	0.01%
ACLX	B	0.01%
XPRO	B	0.01%
EBC	C	0.01%
RYTM	C	0.01%
MIR	B	0.01%
ENVX	B	0.01%
IGT	C	0.01%
DBRG	D	0.01%
PRST	F	0.0%
VGAS	D	0.0%
QRTEB	D	0.0%
LPTV	F	0.0%
BIVI	F	0.0%
AMPX	F	0.0%
OCEA	F	0.0%
CARA	F	0.0%
AKTS	F	0.0%
XAIR	F	0.0%
UONEK	F	0.0%
AVTE	F	0.0%
UONE	F	0.0%
GORV	F	0.0%
ARL	D	0.0%
ZVIA	F	0.0%
RPHM	F	0.0%
EYEN	F	0.0%
PIII	F	0.0%
BTAI	F	0.0%
AADI	F	0.0%
CUTR	F	0.0%
BGXX	D	0.0%
TCI	F	0.0%
DZSI	F	0.0%
FTCI	F	0.0%
FOA	F	0.0%
IMRX	F	0.0%
MAXN	F	0.0%
CARM	D	0.0%
CMBM	F	0.0%
CIX	D	0.0%
LNZA	F	0.0%
ELA	C	0.0%
GOCO	F	0.0%
CLPR	D	0.0%
ALVR	F	0.0%
VOXX	F	0.0%
GNLX	F	0.0%
VOR	F	0.0%
OVID	F	0.0%
VHI	B	0.0%
VALU	B	0.0%
KZR	F	0.0%
RLYB	F	0.0%
SST	F	0.0%
VATE	F	0.0%
NVCT	D	0.0%
NL	D	0.0%
LPSN	F	0.0%
METCB	D	0.0%
CUE	F	0.0%
MURA	F	0.0%
AIRS	F	0.0%
DLTH	F	0.0%
EGRX	C	0.0%
BRBS	D	0.0%
BIG	F	0.0%
RDW	B	0.0%
IKNA	D	0.0%
PRLD	D	0.0%
OMGA	F	0.0%
AKYA	F	0.0%
ZURA	F	0.0%
PRPL	F	0.0%
FEAM	F	0.0%
PNRG	B	0.0%
PRTS	F	0.0%
SWKH	C	0.0%
SGMO	F	0.0%
IPSC	F	0.0%
BIRD	F	0.0%
HQI	F	0.0%
GRTS	F	0.0%
BCAB	F	0.0%
WW	F	0.0%
DNMR	F	0.0%
SKYX	D	0.0%
VERI	F	0.0%
VTNR	F	0.0%
KLXE	F	0.0%
BGFV	F	0.0%
MRNS	F	0.0%
PMVP	F	0.0%
SCWO	F	0.0%
EP	F	0.0%
ACRV	F	0.0%
VIGL	D	0.0%
ALLK	F	0.0%
ACET	F	0.0%
NDLS	D	0.0%
FOSL	C	0.0%
GLT	D	0.0%
EVEX	F	0.0%
LLAP	F	0.0%
TUSK	F	0.0%
BBAI	D	0.0%
MCRB	F	0.0%
ACRS	F	0.0%
OPTN	D	0.0%
KOD	F	0.0%
CNTY	F	0.0%
MPX	D	0.0%
CPSS	B	0.0%
COOK	C	0.0%
EXFY	F	0.0%
XFOR	F	0.0%
TELA	F	0.0%
PRTH	B	0.0%
PDSB	F	0.0%
PETS	F	0.0%
VUZI	F	0.0%
RAPT	F	0.0%
CMTL	D	0.0%
CTXR	F	0.0%
TSE	F	0.0%
IGMS	F	0.0%
EEX	D	0.0%
BMEA	F	0.0%
BW	D	0.0%
ATOM	F	0.0%
CURV	B	0.0%
DHX	F	0.0%
KFS	C	0.0%
STKS	F	0.0%
KVHI	F	0.0%
SPWH	F	0.0%
FGEN	F	0.0%
DOUG	F	0.0%
AMWL	F	0.0%
QSI	F	0.0%
BH	C	0.0%
OPI	F	0.0%
KRMD	B	0.0%
PTSI	D	0.0%
PLCE	F	0.0%
SNFCA	B	0.0%
INNV	C	0.0%
BCOV	C	0.0%
NRGV	F	0.0%
SEER	F	0.0%
CATO	C	0.0%
BTMD	B	0.0%
GLUE	F	0.0%
SBT	C	0.0%
BSVN	B	0.0%
IHRT	F	0.0%
TTEC	F	0.0%
NRDY	F	0.0%
WALD	F	0.0%
KLTR	C	0.0%
III	F	0.0%
DSGN	D	0.0%
SSTI	F	0.0%
KPTI	F	0.0%
IVAC	D	0.0%
FENC	F	0.0%
VTYX	F	0.0%
NREF	B	0.0%
INTT	F	0.0%
CCRD	C	0.0%
LUNA	D	0.0%
CMPO	C	0.0%
MASS	F	0.0%
OBIO	B	0.0%
CRNC	F	0.0%
EVI	D	0.0%
HBIO	F	0.0%
EVC	F	0.0%
FHTX	C	0.0%
SWIM	D	0.0%
CMT	F	0.0%
TG	D	0.0%
SMTI	F	0.0%
ORGN	D	0.0%
ASRT	C	0.0%
RRGB	D	0.0%
CRD.B	F	0.0%
TLYS	D	0.0%
PBFS	B	0.0%
TSQ	D	0.0%
NC	F	0.0%
TRVI	C	0.0%
BFLY	F	0.0%
TDUP	F	0.0%
ATLC	C	0.0%
GAMB	D	0.0%
SCPH	D	0.0%
NODK	B	0.0%
HFFG	D	0.0%
CDZI	B	0.0%
INFU	D	0.0%
FCCO	C	0.0%
EGAN	D	0.0%
QIPT	D	0.0%
BKSY	F	0.0%
JAKK	F	0.0%
GBIO	D	0.0%
AVAH	B	0.0%
GRWG	F	0.0%
EHTH	F	0.0%
ESCA	D	0.0%
CTGO	D	0.0%
ME	F	0.0%
PAYS	C	0.0%
CVRX	C	0.0%
USCB	A	0.0%
LAW	D	0.0%
FF	C	0.0%
MNSB	C	0.0%
LCTX	D	0.0%
TNYA	F	0.0%
GWRS	C	0.0%
CRBU	F	0.0%
MGTX	F	0.0%
SKYT	D	0.0%
SAMG	C	0.0%
MYFW	D	0.0%
DSP	B	0.0%
BWFG	C	0.0%
SGHT	B	0.0%
STRS	B	0.0%
RMAX	D	0.0%
AOMR	A	0.0%
RSVR	C	0.0%
APPS	F	0.0%
ESSA	C	0.0%
TBRG	D	0.0%
GPMT	F	0.0%
GEVO	F	0.0%
EVBN	B	0.0%
IBEX	B	0.0%
RELL	B	0.0%
VABK	B	0.0%
POWW	F	0.0%
PWOD	B	0.0%
VRCA	D	0.0%
BCBP	C	0.0%
HOFT	D	0.0%
ALXO	F	0.0%
STHO	D	0.0%
SKIN	F	0.0%
MLP	C	0.0%
OFLX	F	0.0%
RNGR	C	0.0%
FRGE	F	0.0%
JILL	B	0.0%
LCNB	D	0.0%
BBCP	F	0.0%
BLNK	F	0.0%
DC	D	0.0%
ALDX	F	0.0%
SES	F	0.0%
QUAD	B	0.0%
VEL	B	0.0%
NKSH	F	0.0%
VRA	D	0.0%
SMLR	C	0.0%
CFFI	C	0.0%
CZFS	D	0.0%
CVGI	F	0.0%
RMNI	B	0.0%
OVLY	D	0.0%
LXRX	D	0.0%
CHMG	B	0.0%
NXDT	D	0.0%
FET	F	0.0%
PCB	C	0.0%
BHR	D	0.0%
STEM	F	0.0%
SSP	D	0.0%
OPRX	F	0.0%
XOMA	D	0.0%
HNRG	C	0.0%
GPRO	F	0.0%
FLL	D	0.0%
ZYXI	D	0.0%
RGCO	C	0.0%
HPK	D	0.0%
EPM	F	0.0%
PEPG	C	0.0%
ARAY	D	0.0%
MBCN	D	0.0%
ATLO	C	0.0%
ONTF	D	0.0%
FVCB	D	0.0%
PKBK	C	0.0%
MG	C	0.0%
NKTX	F	0.0%
STRO	F	0.0%
CHRS	F	0.0%
ITI	D	0.0%
NWFL	C	0.0%
LSEA	F	0.0%
TPIC	D	0.0%
MYPS	F	0.0%
PLL	F	0.0%
CIFR	C	0.0%
TCX	D	0.0%
ITIC	B	0.0%
BLUE	D	0.0%
INGN	C	0.0%
ULCC	F	0.0%
EAF	F	0.0%
PSTX	C	0.0%
ORGO	D	0.0%
ALTG	F	0.0%
WEYS	B	0.0%
ACTG	D	0.0%
MEC	B	0.0%
ERAS	C	0.0%
ALCO	D	0.0%
MHLD	D	0.0%
TSVT	F	0.0%
CIO	B	0.0%
JOUT	D	0.0%
ASUR	B	0.0%
RXT	B	0.0%
LE	D	0.0%
KRT	B	0.0%
ACDC	F	0.0%
PPTA	C	0.0%
LRMR	D	0.0%
PLBC	C	0.0%
DGICA	D	0.0%
PINE	B	0.0%
AFCG	B	0.0%
PFMT	C	0.0%
NGVC	B	0.0%
BLFY	C	0.0%
COFS	B	0.0%
OB	B	0.0%
JYNT	D	0.0%
CBNK	D	0.0%
TTSH	B	0.0%
PLSE	B	0.0%
SPRY	D	0.0%
PCYO	D	0.0%
FDBC	F	0.0%
CLAR	C	0.0%
HMST	B	0.0%
PGEN	C	0.0%
INSE	C	0.0%
CBAN	B	0.0%
GENC	C	0.0%
FORR	D	0.0%
UNTY	C	0.0%
RLGT	C	0.0%
RCEL	F	0.0%
REI	D	0.0%
NATR	D	0.0%
DXLG	C	0.0%
CPS	D	0.0%
TSBK	B	0.0%
BRT	C	0.0%
FRST	D	0.0%
SSBK	B	0.0%
ATNM	D	0.0%
PBPB	D	0.0%
MVBF	D	0.0%
IAUX	F	0.0%
SNBR	F	0.0%
WTI	F	0.0%
OM	D	0.0%
BLDE	C	0.0%
EOSE	C	0.0%
WLFC	A	0.0%
CDXS	D	0.0%
PRME	F	0.0%
MVIS	F	0.0%
ACIC	D	0.0%
GRNT	D	0.0%
FLIC	D	0.0%
CVLY	B	0.0%
BCML	C	0.0%
TYRA	D	0.0%
NECB	A	0.0%
NATH	C	0.0%
SFST	D	0.0%
INZY	F	0.0%
JMSB	D	0.0%
WSBF	B	0.0%
PKOH	C	0.0%
RM	C	0.0%
MRSN	F	0.0%
RRBI	C	0.0%
MLYS	D	0.0%
CIVB	C	0.0%
VLGEA	C	0.0%
RVNC	F	0.0%
FSBW	B	0.0%
MED	F	0.0%
ASLE	F	0.0%
ANGO	D	0.0%
AVD	F	0.0%
OOMA	C	0.0%
GCBC	B	0.0%
BWB	C	0.0%
ALLO	F	0.0%
LUNG	F	0.0%
HEAR	D	0.0%
EBTC	D	0.0%
COMM	D	0.0%
FNLC	B	0.0%
CRMD	D	0.0%
UTMD	F	0.0%
BARK	B	0.0%
LYEL	F	0.0%
BOWL	B	0.0%
OMER	B	0.0%
LEGH	B	0.0%
CTOS	F	0.0%
ATNI	D	0.0%
AMPY	C	0.0%
ZNTL	F	0.0%
GNTY	B	0.0%
FLWS	C	0.0%
SOI	D	0.0%
REPX	B	0.0%
PKE	D	0.0%
MBI	D	0.0%
DOMO	D	0.0%
THRD	C	0.0%
IRBT	F	0.0%
DCGO	F	0.0%
FRBA	C	0.0%
MGNX	F	0.0%
CABA	F	0.0%
DH	F	0.0%
EGHT	F	0.0%
IPI	D	0.0%
EVCM	B	0.0%
OBT	B	0.0%
REFI	B	0.0%
BMRC	D	0.0%
TH	D	0.0%
HBT	B	0.0%
TCBX	C	0.0%
CZNC	D	0.0%
WOW	B	0.0%
RCKY	B	0.0%
ENTA	C	0.0%
SLDP	D	0.0%
AURA	D	0.0%
SPOK	D	0.0%
TWKS	C	0.0%
BRCC	C	0.0%
ULH	D	0.0%
UIS	D	0.0%
MCS	D	0.0%
ORRF	C	0.0%
ORIC	F	0.0%
HIFS	C	0.0%
PSTL	D	0.0%
TRUE	C	0.0%
LINC	C	0.0%
AMPS	D	0.0%
JRVR	F	0.0%
TCMD	F	0.0%
OIS	D	0.0%
FBIZ	B	0.0%
KRO	C	0.0%
HBCP	B	0.0%
FATE	F	0.0%
RDVT	A	0.0%
GCO	D	0.0%
PACK	D	0.0%
FISI	B	0.0%
RBBN	C	0.0%
BOOM	C	0.0%
ADV	D	0.0%
BSRR	A	0.0%
CRCT	F	0.0%
ACNB	B	0.0%
PANL	B	0.0%
WTBA	B	0.0%
GNE	F	0.0%
HUMA	D	0.0%
PFIS	B	0.0%
FCEL	F	0.0%
NEWT	D	0.0%
FMAO	B	0.0%
IMMR	C	0.0%
FNA	F	0.0%
SENEA	D	0.0%
FSBC	B	0.0%
CYRX	F	0.0%
AXGN	C	0.0%
RBB	C	0.0%
CDLX	F	0.0%
AMSWA	D	0.0%
OLMA	C	0.0%
TMCI	F	0.0%
NVRO	F	0.0%
CELC	C	0.0%
MAX	F	0.0%
AAN	B	0.0%
XERS	B	0.0%
TBI	F	0.0%
MPB	C	0.0%
FARO	F	0.0%
KODK	C	0.0%
BTBT	B	0.0%
OSUR	F	0.0%
TRDA	D	0.0%
WEAV	D	0.0%
LXFR	B	0.0%
FFWM	D	0.0%
LOCO	B	0.0%
AEHR	F	0.0%
ZUMZ	B	0.0%
DSGR	F	0.0%
MOFG	B	0.0%
TERN	C	0.0%
VYGR	F	0.0%
CCSI	D	0.0%
AVXL	C	0.0%
CERS	D	0.0%
SPFI	C	0.0%
LOVE	D	0.0%
VERV	F	0.0%
IRMD	B	0.0%
NRIM	B	0.0%
NNOX	F	0.0%
MCFT	F	0.0%
BOC	F	0.0%
GEF	F	0.0%
PLPC	F	0.0%
ONEW	B	0.0%
KRNY	D	0.0%
AVNW	F	0.0%
PL	F	0.0%
SMHI	B	0.0%
MODV	C	0.0%
ANNX	C	0.0%
NWPX	C	0.0%
BBW	D	0.0%
LILA	B	0.0%
SHBI	C	0.0%
VNDA	C	0.0%
TITN	F	0.0%
EYPT	F	0.0%
ALEC	D	0.0%
ODC	F	0.0%
EE	B	0.0%
ALRS	D	0.0%
NRC	F	0.0%
LIND	B	0.0%
MEI	F	0.0%
GLRE	B	0.0%
ARTNA	F	0.0%
CARE	B	0.0%
ESQ	C	0.0%
PHAT	C	0.0%
CHGG	F	0.0%
NVEC	D	0.0%
RYAM	B	0.0%
ENFN	D	0.0%
SIGA	D	0.0%
EWCZ	F	0.0%
CRMT	F	0.0%
BWMN	C	0.0%
PACB	F	0.0%
ALT	F	0.0%
SVRA	D	0.0%
HCAT	F	0.0%
FFIC	B	0.0%
ACRE	C	0.0%
WLDN	C	0.0%
HLVX	B	0.0%
BALY	D	0.0%
RMR	F	0.0%
FUBO	F	0.0%
OABI	F	0.0%
LWLG	F	0.0%
FNKO	C	0.0%
HRTX	B	0.0%
TRC	C	0.0%
LMNR	C	0.0%
AESI	D	0.0%
DHIL	F	0.0%
RGP	D	0.0%
NFBK	D	0.0%
RUSHB	F	0.0%
XPOF	B	0.0%
CSV	C	0.0%
SMBK	B	0.0%
DENN	D	0.0%
SFIX	B	0.0%
PX	C	0.0%
EBS	B	0.0%
MTW	D	0.0%
EB	F	0.0%
PGC	D	0.0%
WVE	F	0.0%
STOK	C	0.0%
VPG	F	0.0%
CCBG	B	0.0%
NAPA	F	0.0%
SLQT	B	0.0%
CWCO	D	0.0%
KALV	C	0.0%
OLP	B	0.0%
INOD	B	0.0%
AROW	B	0.0%
RICK	F	0.0%
MCBC	A	0.0%
PKST	F	0.0%
FRPH	D	0.0%
CTO	A	0.0%
MNTK	C	0.0%
ITOS	C	0.0%
NBN	B	0.0%
HDSN	F	0.0%
CTLP	C	0.0%
BHB	C	0.0%
ANIK	D	0.0%
RDUS	F	0.0%
SB	B	0.0%
FWRG	F	0.0%
EDIT	F	0.0%
ABUS	B	0.0%
ADPT	C	0.0%
TIPT	D	0.0%
BAND	D	0.0%
CLDT	D	0.0%
SAVE	F	0.0%
MCB	C	0.0%
CCNE	C	0.0%
CYH	D	0.0%
THFF	C	0.0%
TBPH	F	0.0%
LYTS	D	0.0%
SHYF	F	0.0%
BYND	F	0.0%
GCMG	C	0.0%
IRON	C	0.0%
SD	D	0.0%
GIC	F	0.0%
SEMR	D	0.0%
SRI	D	0.0%
SMBC	B	0.0%
NTGR	B	0.0%
GTN	D	0.0%
REPL	C	0.0%
XMTR	F	0.0%
HTBI	B	0.0%
TTI	D	0.0%
TREE	D	0.0%
AGS	B	0.0%
CLBK	D	0.0%
ACCO	D	0.0%
FC	D	0.0%
SGHC	D	0.0%
EVER	D	0.0%
FMNB	C	0.0%
CGEM	D	0.0%
CDMO	F	0.0%
LXU	F	0.0%
HONE	B	0.0%
NUVB	D	0.0%
ACCD	F	0.0%
TELL	C	0.0%
RBCAA	C	0.0%
DMRC	B	0.0%
SRCL	B	0.0%
NNBR	F	0.0%
ANET	A	0.0%
WASH	C	0.0%
PTVE	F	0.0%
UVE	C	0.0%
LAND	B	0.0%
ZIMV	B	0.0%
PTLO	F	0.0%
OLO	F	0.0%
ALX	B	0.0%
YMAB	D	0.0%
KIDS	F	0.0%
EOLS	D	0.0%
INST	C	0.0%
CAC	C	0.0%
KRUS	F	0.0%
ATEX	C	0.0%
MSBI	D	0.0%
QTRX	F	0.0%
GSBC	B	0.0%
CLNE	C	0.0%
URGN	C	0.0%
ANAB	B	0.0%
AMAL	A	0.0%
MCBS	A	0.0%
AVO	F	0.0%
LAZR	F	0.0%
OFIX	D	0.0%
CCB	B	0.0%
SRRK	F	0.0%
BRY	D	0.0%
HTBK	C	0.0%
MITK	F	0.0%
NRDS	B	0.0%
CLFD	B	0.0%
OSG	A	0.0%
SIBN	F	0.0%
IIIV	C	0.0%
LASR	F	0.0%
GRND	A	0.0%
ARKO	C	0.0%
EQBK	A	0.0%
BFST	C	0.0%
OPK	F	0.0%
IBCP	C	0.0%
FPI	B	0.0%
DAKT	B	0.0%
HBNC	C	0.0%
CCO	D	0.0%
CATC	B	0.0%
OSPN	B	0.0%
PLOW	D	0.0%
SANA	F	0.0%
LFST	F	0.0%
CSTL	D	0.0%
LEU	F	0.0%
LMB	B	0.0%
KE	D	0.0%
BBUC	D	0.0%
ACHR	F	0.0%
BIGC	C	0.0%
TPB	B	0.0%
LGF.A	D	0.0%
YORW	C	0.0%
HCKT	D	0.0%
RYI	F	0.0%
APLD	C	0.0%
ACEL	D	0.0%
GMRE	B	0.0%
LPRO	F	0.0%
IDT	C	0.0%
SOUN	D	0.0%
CASS	F	0.0%
MLNK	B	0.0%
ELVN	B	0.0%
ATRO	B	0.0%
BV	B	0.0%
YEXT	D	0.0%
AMTB	C	0.0%
STGW	C	0.0%
EBF	B	0.0%
SAGE	F	0.0%
GOOD	B	0.0%
LBPH	B	0.0%
TK	B	0.0%
BY	B	0.0%
GDYN	D	0.0%
ARCT	F	0.0%
CNDT	D	0.0%
SRDX	A	0.0%
FOR	D	0.0%
VMEO	D	0.0%
GLDD	B	0.0%
TRTX	A	0.0%
KNSA	C	0.0%
UTI	C	0.0%
ETNB	F	0.0%
DJCO	B	0.0%
RLAY	D	0.0%
PETQ	B	0.0%
TVTX	C	0.0%
ZIP	F	0.0%
NR	B	0.0%
IBUY	C	0.0%
PLRX	F	0.0%
RVLV	D	0.0%
RSI	B	0.0%
AMRK	D	0.0%
IE	F	0.0%
SWI	B	0.0%
DFH	D	0.0%
BHRB	D	0.0%
CBL	B	0.0%
LQDA	D	0.0%
MLR	C	0.0%
CFB	B	0.0%
FCBC	B	0.0%
NEXT	B	0.0%
HA	D	0.0%
MBWM	B	0.0%
MBIN	C	0.0%
OSBC	C	0.0%
HROW	B	0.0%
VRDN	D	0.0%
CDRE	C	0.0%
CTBI	C	0.0%
GCI	A	0.0%
IMXI	C	0.0%
UVSP	A	0.0%
IAS	C	0.0%
PNTG	B	0.0%
EU	F	0.0%
EGY	C	0.0%
EVRI	C	0.0%
RDFN	F	0.0%
BELFB	B	0.0%
BASE	D	0.0%
CNOB	D	0.0%
DX	C	0.0%
ALHC	B	0.0%
SMR	B	0.0%
PAX	F	0.0%
FIGS	D	0.0%
SWBI	F	0.0%
WULF	B	0.0%
NOVA	D	0.0%
ATRI	C	0.0%
PCT	C	0.0%
CGON	F	0.0%
COGT	C	0.0%
PFC	C	0.0%
JANX	D	0.0%
FMBH	C	0.0%
ATSG	D	0.0%
DHC	B	0.0%
MBUU	F	0.0%
HOV	D	0.0%

HDG Underweight 50 Positions Relative to RWJ

Symbol	Grade	Weight
KSS	D	-1.43%
LNC	B	-1.31%
DXC	C	-1.06%
AAP	F	-0.84%
VFC	C	-0.81%
ALK	D	-0.79%
HTZ	F	-0.79%
NWL	F	-0.54%
PENN	C	-0.49%
OGN	B	-0.48%
VSCO	F	-0.47%
RHI	F	-0.46%
CMA	C	-0.41%
SEE	D	-0.4%
LEG	F	-0.35%
NATL	B	-0.32%
GO	D	-0.32%
IAC	D	-0.31%
VSAT	F	-0.29%
PHIN	D	-0.26%
VSTS	D	-0.22%
FTRE	D	-0.21%
KLG	F	-0.2%
AL	C	-0.2%
ICUI	B	-0.17%
MERC	D	-0.16%
RUN	D	-0.16%
VIRT	C	-0.16%
TRIP	D	-0.13%
CABO	F	-0.12%
SEDG	F	-0.11%
IART	C	-0.11%
AWI	D	-0.1%
PINC	F	-0.1%
BRC	B	-0.1%
FHB	C	-0.09%
EZPW	C	-0.08%
AGO	C	-0.07%
MCW	C	-0.07%
HAYW	F	-0.07%
MSGS	C	-0.07%
MPW	F	-0.06%
MRCY	F	-0.06%
TR	C	-0.06%
HIW	B	-0.06%
TNDM	D	-0.05%
CWEN	C	-0.05%
CWEN	C	-0.05%
DV	F	-0.04%
CERT	D	-0.02%