HKND vs. IWS ETF Comparison

Comparison of Humankind US Stock ETF (HKND) to iShares Russell Mid-cap Value ETF (IWS)

HKND

Humankind US Stock ETF

HKND Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Humankind US Equity Index (the ?Index?). The index is primarily comprised of domestic (U.S.) equity securities and may not be comprised of greater than 5% of foreign securities (including ADRs). The fund invests in the common stock of each company in the index in approximately the same proportion as represented in the index itself. Under normal conditions, it will invest at least 90% of its net assets, including borrowings for investment purposes, in securities contained in the index.

Grade (RS Rating)

Last Trade

$33.30

Average Daily Volume

1,926

Number of Holdings ^*

960

* 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

$138.56

Average Daily Volume

277,482

Number of Holdings ^*

707

* may have additional holdings in another (foreign) market

Performance

Period	HKND	IWS
30 Days	1.63%	5.12%
60 Days	0.72%	5.58%
90 Days	1.42%	7.47%
12 Months	19.65%	31.67%

392 Overlapping Holdings

Symbol	Grade	Weight in HKND	Weight in IWS	Overlap
A	D	0.14%	0.41%	0.14%
AAP	C	0.02%	0.02%	0.02%
ACHC	F	0.0%	0.04%	0.0%
ACI	C	0.07%	0.09%	0.07%
ACM	B	0.08%	0.16%	0.08%
ADM	D	1.37%	0.28%	0.28%
AFG	A	0.04%	0.11%	0.04%
AFL	B	0.09%	0.68%	0.09%
AGCO	D	0.66%	0.06%	0.06%
AIZ	A	0.13%	0.13%	0.13%
AJG	B	0.04%	0.65%	0.04%
AKAM	D	0.01%	0.14%	0.01%
ALB	C	0.01%	0.13%	0.01%
ALGM	D	0.0%	0.03%	0.0%
ALGN	F	0.02%	0.08%	0.02%
ALL	A	0.22%	0.48%	0.22%
ALLY	C	0.04%	0.1%	0.04%
ALNY	D	0.09%	0.04%	0.04%
AME	A	0.01%	0.49%	0.01%
AMED	F	0.02%	0.03%	0.02%
AMG	B	0.01%	0.06%	0.01%
AMH	D	0.03%	0.14%	0.03%
AMKR	D	0.02%	0.03%	0.02%
AMP	A	0.09%	0.06%	0.06%
ANSS	B	0.01%	0.32%	0.01%
AOS	F	0.01%	0.1%	0.01%
APG	B	0.01%	0.09%	0.01%
ARE	D	0.01%	0.2%	0.01%
ARW	D	0.02%	0.07%	0.02%
ASH	D	0.01%	0.04%	0.01%
ATR	B	0.02%	0.12%	0.02%
AVB	B	0.07%	0.36%	0.07%
AVT	C	0.02%	0.05%	0.02%
AVTR	F	0.12%	0.15%	0.12%
AWK	D	0.34%	0.29%	0.29%
AXTA	A	0.01%	0.1%	0.01%
AYI	B	0.06%	0.11%	0.06%
AZTA	D	0.02%	0.02%	0.02%
BAX	D	0.7%	0.18%	0.18%
BBWI	D	0.02%	0.08%	0.02%
BBY	D	0.25%	0.22%	0.22%
BC	C	0.01%	0.06%	0.01%
BEN	C	0.04%	0.07%	0.04%
BERY	B	0.06%	0.08%	0.06%
BG	F	0.82%	0.14%	0.14%
BHF	B	0.02%	0.03%	0.02%
BIIB	F	0.24%	0.26%	0.24%
BIO	D	0.09%	0.07%	0.07%
BK	A	0.12%	0.64%	0.12%
BLDR	D	0.02%	0.21%	0.02%
BMRN	D	0.07%	0.13%	0.07%
BOKF	B	0.01%	0.03%	0.01%
BR	A	0.02%	0.03%	0.02%
BRKR	D	0.05%	0.02%	0.02%
BRO	B	0.02%	0.16%	0.02%
BRX	A	0.01%	0.1%	0.01%
BXP	D	0.02%	0.14%	0.02%
CAG	D	0.31%	0.14%	0.14%
CAH	B	0.33%	0.13%	0.13%
CBRE	B	0.12%	0.44%	0.12%
CBSH	A	0.01%	0.09%	0.01%
CC	C	0.01%	0.03%	0.01%
CCI	D	0.02%	0.5%	0.02%
CDW	F	0.06%	0.13%	0.06%
CE	F	0.01%	0.07%	0.01%
CF	B	0.98%	0.18%	0.18%
CFG	B	0.04%	0.23%	0.04%
CFR	B	0.01%	0.09%	0.01%
CG	A	0.03%	0.12%	0.03%
CHD	B	0.37%	0.29%	0.29%
CHE	D	0.02%	0.08%	0.02%
CHH	A	0.0%	0.01%	0.0%
CHTR	C	0.2%	0.4%	0.2%
CIEN	B	0.01%	0.11%	0.01%
CINF	A	0.04%	0.26%	0.04%
CLH	B	0.01%	0.14%	0.01%
CMA	A	0.02%	0.1%	0.02%
CMI	A	0.06%	0.54%	0.06%
CNA	B	0.0%	0.01%	0.0%
CNC	D	0.26%	0.33%	0.26%
CNM	D	0.01%	0.03%	0.01%
CNXC	F	0.01%	0.02%	0.01%
COHR	B	0.01%	0.14%	0.01%
COIN	C	0.01%	0.11%	0.01%
COLB	A	0.0%	0.07%	0.0%
COTY	F	0.0%	0.03%	0.0%
CPB	D	0.07%	0.09%	0.07%
CPT	B	0.03%	0.14%	0.03%
CR	A	0.04%	0.09%	0.04%
CRL	C	0.09%	0.11%	0.09%
CRUS	D	0.0%	0.06%	0.0%
CSGP	D	0.01%	0.32%	0.01%
CSL	C	0.03%	0.19%	0.03%
CTLT	B	0.14%	0.12%	0.12%
CTSH	B	0.08%	0.42%	0.08%
CTVA	C	1.43%	0.43%	0.43%
CXT	B	0.01%	0.03%	0.01%
DAR	C	0.03%	0.08%	0.03%
DAY	B	0.01%	0.11%	0.01%
DBX	B	0.01%	0.05%	0.01%
DCI	B	0.0%	0.1%	0.0%
DD	D	0.31%	0.38%	0.31%
DFS	B	0.09%	0.48%	0.09%
DGX	A	0.62%	0.2%	0.2%
DHI	D	0.14%	0.53%	0.14%
DKS	C	0.02%	0.11%	0.02%
DLB	B	0.01%	0.05%	0.01%
DLR	B	0.02%	0.64%	0.02%
DOC	D	0.01%	0.16%	0.01%
DOV	A	0.01%	0.3%	0.01%
DOW	F	0.17%	0.34%	0.17%
DOX	D	0.02%	0.11%	0.02%
DXC	B	0.08%	0.04%	0.04%
EA	A	0.02%	0.47%	0.02%
EBAY	D	0.05%	0.34%	0.05%
EEFT	B	0.01%	0.05%	0.01%
EFX	F	0.01%	0.27%	0.01%
EHC	B	0.08%	0.11%	0.08%
ELS	C	0.03%	0.14%	0.03%
EME	C	0.02%	0.15%	0.02%
EMN	D	0.01%	0.13%	0.01%
ENOV	C	0.15%	0.03%	0.03%
EPAM	C	0.02%	0.13%	0.02%
EQR	B	0.07%	0.31%	0.07%
ESAB	B	0.02%	0.08%	0.02%
ESI	A	0.01%	0.07%	0.01%
ESS	B	0.04%	0.21%	0.04%
EVR	B	0.02%	0.12%	0.02%
EWBC	A	0.01%	0.16%	0.01%
EXAS	D	0.03%	0.06%	0.03%
EXEL	B	0.06%	0.02%	0.02%
EXR	D	0.0%	0.38%	0.0%
FAF	A	0.05%	0.07%	0.05%
FAST	B	0.03%	0.08%	0.03%
FCN	D	0.01%	0.08%	0.01%
FCNCA	A	0.01%	0.29%	0.01%
FDS	B	0.01%	0.13%	0.01%
FFIV	B	0.01%	0.15%	0.01%
FHB	A	0.0%	0.04%	0.0%
FHN	A	0.02%	0.12%	0.02%
FICO	B	0.01%	0.09%	0.01%
FIS	C	0.04%	0.54%	0.04%
FITB	A	0.05%	0.35%	0.05%
FIVE	F	0.01%	0.01%	0.01%
FLO	D	0.09%	0.04%	0.04%
FLS	B	0.01%	0.09%	0.01%
FMC	D	0.66%	0.07%	0.07%
FNB	A	0.01%	0.06%	0.01%
FND	C	0.01%	0.08%	0.01%
FNF	B	0.07%	0.18%	0.07%
FOX	A	0.07%	0.06%	0.06%
FRPT	B	0.01%	0.05%	0.01%
FRT	B	0.0%	0.1%	0.0%
FSLR	F	0.14%	0.22%	0.14%
FTRE	D	0.1%	0.02%	0.02%
FTV	C	0.01%	0.29%	0.01%
FYBR	D	0.04%	0.09%	0.04%
GAP	B	0.02%	0.05%	0.02%
GEHC	F	0.9%	0.37%	0.37%
GEN	B	0.01%	0.18%	0.01%
GFS	C	0.02%	0.04%	0.02%
GGG	B	0.0%	0.16%	0.0%
GIS	D	0.26%	0.39%	0.26%
GL	B	0.02%	0.11%	0.02%
GLW	B	0.11%	0.39%	0.11%
GME	C	0.04%	0.11%	0.04%
GMED	A	0.07%	0.1%	0.07%
GNRC	B	0.01%	0.06%	0.01%
GPC	D	0.04%	0.19%	0.04%
GPN	B	0.04%	0.33%	0.04%
GTES	A	0.01%	0.05%	0.01%
GWW	B	0.06%	0.07%	0.06%
GXO	B	0.06%	0.08%	0.06%
H	B	0.01%	0.06%	0.01%
HAS	D	0.01%	0.01%	0.01%
HBAN	A	0.03%	0.28%	0.03%
HHH	B	0.01%	0.03%	0.01%
HIG	B	0.1%	0.38%	0.1%
HLI	B	0.01%	0.1%	0.01%
HLT	A	0.03%	0.33%	0.03%
HOLX	D	0.26%	0.2%	0.2%
HPE	B	0.22%	0.3%	0.22%
HPQ	A	0.79%	0.3%	0.3%
HRB	D	0.01%	0.07%	0.01%
HSIC	B	0.12%	0.1%	0.1%
HST	C	0.02%	0.13%	0.02%
HSY	F	0.06%	0.24%	0.06%
HUBB	B	0.01%	0.26%	0.01%
HUM	C	0.23%	0.37%	0.23%
HUN	F	0.04%	0.04%	0.04%
IAC	D	0.01%	0.04%	0.01%
IBKR	A	0.02%	0.21%	0.02%
IEX	B	0.01%	0.19%	0.01%
IFF	D	0.05%	0.24%	0.05%
ILMN	D	0.1%	0.24%	0.1%
INCY	C	0.11%	0.13%	0.11%
INGR	B	0.53%	0.1%	0.1%
INVH	D	0.05%	0.23%	0.05%
IONS	F	0.03%	0.0%	0.0%
IPG	D	0.03%	0.11%	0.03%
IPGP	D	0.01%	0.02%	0.01%
IQV	D	0.43%	0.34%	0.34%
IR	B	0.01%	0.45%	0.01%
IRDM	D	0.03%	0.03%	0.03%
IRM	D	0.01%	0.16%	0.01%
ITT	A	0.01%	0.14%	0.01%
IVZ	B	0.03%	0.07%	0.03%
J	F	0.28%	0.19%	0.19%
JBL	B	0.14%	0.14%	0.14%
JEF	A	0.05%	0.1%	0.05%
JKHY	D	0.01%	0.14%	0.01%
JLL	D	0.05%	0.09%	0.05%
JNPR	F	0.01%	0.13%	0.01%
K	A	0.26%	0.23%	0.23%
KD	B	0.08%	0.07%	0.07%
KEX	C	0.01%	0.08%	0.01%
KEY	B	0.04%	0.2%	0.04%
KEYS	A	0.01%	0.29%	0.01%
KIM	A	0.01%	0.18%	0.01%
KMPR	B	0.03%	0.05%	0.03%
KR	B	0.23%	0.42%	0.23%
KVUE	A	0.43%	0.5%	0.43%
L	A	0.06%	0.17%	0.06%
LAMR	D	0.01%	0.09%	0.01%
LBRDA	C	0.05%	0.01%	0.01%
LECO	B	0.02%	0.09%	0.02%
LEN	D	0.14%	0.02%	0.02%
LEN	D	0.14%	0.44%	0.14%
LFUS	F	0.01%	0.06%	0.01%
LH	C	0.93%	0.22%	0.22%
LKQ	D	0.03%	0.11%	0.03%
LNC	B	0.05%	0.07%	0.05%
MAA	B	0.05%	0.2%	0.05%
MAN	D	0.09%	0.03%	0.03%
MAS	D	0.02%	0.19%	0.02%
MASI	A	0.1%	0.04%	0.04%
MAT	D	0.01%	0.07%	0.01%
MCHP	F	0.02%	0.37%	0.02%
MIDD	C	0.03%	0.08%	0.03%
MKC	D	0.04%	0.21%	0.04%
MKL	A	0.06%	0.18%	0.06%
MOH	F	0.07%	0.07%	0.07%
MOS	F	1.63%	0.09%	0.09%
MSCI	C	0.01%	0.21%	0.01%
MSGS	A	0.0%	0.04%	0.0%
MSM	C	0.01%	0.04%	0.01%
MTB	A	0.04%	0.39%	0.04%
MTCH	D	0.01%	0.09%	0.01%
MTD	D	0.07%	0.27%	0.07%
MTG	C	0.01%	0.07%	0.01%
MTN	C	0.01%	0.01%	0.01%
NDAQ	A	0.02%	0.36%	0.02%
NDSN	B	0.0%	0.16%	0.0%
NTAP	C	0.03%	0.15%	0.03%
NTRS	A	0.04%	0.24%	0.04%
NVR	D	0.05%	0.28%	0.05%
NVST	B	0.01%	0.04%	0.01%
NWL	B	0.02%	0.04%	0.02%
NWS	A	0.03%	0.04%	0.03%
NXST	C	0.01%	0.03%	0.01%
NYT	C	0.01%	0.09%	0.01%
O	D	0.01%	0.54%	0.01%
OGN	D	0.08%	0.04%	0.04%
OMC	C	0.05%	0.21%	0.05%
OMF	A	0.02%	0.07%	0.02%
ON	D	0.03%	0.31%	0.03%
ONTO	D	0.0%	0.06%	0.0%
ORI	A	0.04%	0.1%	0.04%
OTIS	C	0.02%	0.44%	0.02%
OZK	B	0.01%	0.06%	0.01%
PAYC	B	0.01%	0.05%	0.01%
PAYX	C	0.02%	0.32%	0.02%
PB	A	0.01%	0.08%	0.01%
PFG	D	0.06%	0.22%	0.06%
PHM	D	0.07%	0.29%	0.07%
PII	D	0.01%	0.04%	0.01%
PINC	B	0.01%	0.03%	0.01%
PNFP	B	0.01%	0.1%	0.01%
POST	C	0.07%	0.06%	0.06%
PPG	F	0.03%	0.32%	0.03%
PRU	A	0.18%	0.5%	0.18%
PSTG	D	0.01%	0.02%	0.01%
PTC	A	0.0%	0.1%	0.0%
PWR	A	0.02%	0.36%	0.02%
QRVO	F	0.01%	0.07%	0.01%
R	B	0.02%	0.08%	0.02%
RCM	F	0.01%	0.02%	0.01%
REG	B	0.01%	0.15%	0.01%
REYN	D	0.0%	0.02%	0.0%
RF	A	0.04%	0.27%	0.04%
RGA	A	0.06%	0.17%	0.06%
RGEN	D	0.01%	0.07%	0.01%
RHI	B	0.04%	0.08%	0.04%
RJF	A	0.07%	0.33%	0.07%
RKT	F	0.02%	0.02%	0.02%
RLI	B	0.01%	0.08%	0.01%
RMD	C	0.19%	0.27%	0.19%
ROK	B	0.02%	0.33%	0.02%
ROKU	D	0.05%	0.08%	0.05%
ROST	C	0.02%	0.39%	0.02%
RPRX	D	0.1%	0.11%	0.1%
RRX	B	0.01%	0.12%	0.01%
RS	B	0.03%	0.2%	0.03%
RVTY	F	0.11%	0.15%	0.11%
SBAC	D	0.01%	0.26%	0.01%
SCI	B	0.02%	0.13%	0.02%
SEE	C	0.02%	0.03%	0.02%
SEIC	B	0.01%	0.09%	0.01%
SF	B	0.03%	0.13%	0.03%
SIRI	C	0.02%	0.07%	0.02%
SITE	D	0.01%	0.04%	0.01%
SJM	D	0.46%	0.12%	0.12%
SMG	D	0.05%	0.04%	0.04%
SNA	A	0.01%	0.2%	0.01%
SNV	B	0.01%	0.09%	0.01%
SNX	C	0.06%	0.1%	0.06%
SOLV	C	0.17%	0.1%	0.1%
SPB	C	0.29%	0.03%	0.03%
SPG	B	0.03%	0.48%	0.03%
SQ	A	0.07%	0.3%	0.07%
SSNC	B	0.02%	0.17%	0.02%
STT	A	0.1%	0.32%	0.1%
SUI	D	0.05%	0.17%	0.05%
SWK	D	0.03%	0.14%	0.03%
SWKS	F	0.02%	0.15%	0.02%
SYF	B	0.09%	0.28%	0.09%
SYY	B	0.07%	0.16%	0.07%
TECH	D	0.06%	0.12%	0.06%
TER	D	0.01%	0.02%	0.01%
TFX	F	0.14%	0.1%	0.1%
THC	D	0.32%	0.16%	0.16%
THG	A	0.03%	0.06%	0.03%
THO	B	0.01%	0.06%	0.01%
TKO	B	0.0%	0.09%	0.0%
TKR	D	0.0%	0.05%	0.0%
TNL	A	0.01%	0.04%	0.01%
TOL	B	0.05%	0.17%	0.05%
TPG	A	0.02%	0.05%	0.02%
TRIP	F	0.0%	0.02%	0.0%
TRMB	B	0.01%	0.19%	0.01%
TROW	B	0.04%	0.29%	0.04%
TRU	D	0.01%	0.19%	0.01%
TTC	D	0.04%	0.09%	0.04%
TTEK	F	0.01%	0.1%	0.01%
TTWO	A	0.01%	0.34%	0.01%
TW	A	0.0%	0.1%	0.0%
TXG	F	0.01%	0.01%	0.01%
TYL	C	0.01%	0.04%	0.01%
UDR	B	0.03%	0.16%	0.03%
UHAL	D	0.01%	0.04%	0.01%
UHAL	D	0.01%	0.0%	0.0%
UHS	D	0.18%	0.13%	0.13%
UI	A	0.01%	0.01%	0.01%
ULTA	F	0.02%	0.03%	0.02%
UNM	A	0.04%	0.15%	0.04%
URI	B	0.01%	0.46%	0.01%
UTHR	C	0.09%	0.17%	0.09%
UWMC	D	0.01%	0.0%	0.0%
VAC	B	0.01%	0.03%	0.01%
VIRT	B	0.0%	0.03%	0.0%
VLTO	D	0.32%	0.15%	0.15%
VNO	B	0.01%	0.08%	0.01%
VNT	B	0.01%	0.07%	0.01%
VOYA	B	0.03%	0.09%	0.03%
VRSN	F	0.01%	0.16%	0.01%
VTR	C	0.06%	0.28%	0.06%
VTRS	A	0.25%	0.17%	0.17%
WAL	B	0.01%	0.11%	0.01%
WAT	B	0.07%	0.09%	0.07%
WBA	F	0.21%	0.07%	0.07%
WBD	C	0.08%	0.25%	0.08%
WBS	A	0.01%	0.11%	0.01%
WCC	B	0.02%	0.1%	0.02%
WDC	D	0.1%	0.23%	0.1%
WH	B	0.01%	0.07%	0.01%
WHR	B	0.05%	0.07%	0.05%
WLK	D	0.05%	0.05%	0.05%
WMS	D	0.02%	0.06%	0.02%
WPC	D	0.01%	0.13%	0.01%
WRB	A	0.04%	0.2%	0.04%
WSO	A	0.03%	0.2%	0.03%
WST	C	0.07%	0.1%	0.07%
WTFC	A	0.01%	0.09%	0.01%
WTM	A	0.01%	0.05%	0.01%
WTRG	B	0.08%	0.11%	0.08%
WU	D	0.02%	0.03%	0.02%
XRAY	F	0.01%	0.04%	0.01%
XYL	D	0.01%	0.32%	0.01%
ZBH	C	0.45%	0.25%	0.25%
ZBRA	B	0.04%	0.17%	0.04%
ZG	A	0.03%	0.04%	0.03%
ZION	B	0.02%	0.1%	0.02%

HKND Overweight 570 Positions Relative to IWS

Symbol	Grade	Weight
GOOGL	C	4.19%
PG	A	3.88%
MSFT	F	2.38%
AAPL	C	2.18%
JNJ	D	1.97%
DE	A	1.95%
INTC	D	1.8%
LLY	F	1.74%
ABBV	D	1.67%
MRK	F	1.52%
PFE	D	1.42%
SYK	C	1.2%
CL	D	1.18%
WMT	A	1.15%
DELL	C	1.11%
BDX	F	1.09%
ABT	B	1.09%
BMY	B	1.05%
CI	F	1.0%
UNH	C	0.96%
AMGN	D	0.96%
ECL	D	0.89%
T	A	0.89%
VZ	C	0.86%
HCA	F	0.85%
GILD	C	0.85%
JPM	A	0.77%
BSX	B	0.76%
TMO	F	0.75%
CMCSA	B	0.71%
AMZN	C	0.68%
VRTX	F	0.61%
BAC	A	0.59%
FDP	B	0.57%
WFC	A	0.53%
MCK	B	0.52%
DHR	F	0.51%
MS	A	0.45%
TMUS	B	0.44%
C	A	0.44%
CVS	D	0.43%
REGN	F	0.41%
HD	A	0.4%
GS	A	0.39%
PEP	F	0.38%
ISRG	A	0.35%
COR	B	0.34%
ELV	F	0.32%
MDLZ	F	0.29%
EW	C	0.28%
FELE	B	0.27%
LOW	D	0.25%
IBM	C	0.25%
DIS	B	0.24%
CLX	B	0.24%
AXP	A	0.23%
AIG	B	0.23%
PGR	A	0.22%
ORCL	B	0.22%
MET	A	0.21%
TSLA	B	0.21%
COF	B	0.2%
ZWS	B	0.19%
CSCO	B	0.19%
TRV	B	0.18%
V	A	0.17%
LUMN	C	0.15%
MRNA	F	0.15%
USB	A	0.14%
DXCM	D	0.14%
AMAT	F	0.14%
QCOM	F	0.14%
DVA	B	0.13%
TGT	F	0.13%
PNC	B	0.12%
AVGO	D	0.12%
BLK	C	0.12%
MU	D	0.12%
MA	C	0.12%
MMC	B	0.12%
NVDA	C	0.11%
TFC	A	0.11%
COST	B	0.11%
SEM	B	0.11%
TITN	C	0.11%
NFLX	A	0.1%
CRM	B	0.1%
RDNT	B	0.1%
PYPL	B	0.1%
TXN	C	0.1%
IART	C	0.1%
AHCO	F	0.1%
ICUI	D	0.1%
PODD	C	0.09%
SCHW	B	0.09%
LRCX	F	0.09%
KMB	D	0.09%
EMBC	C	0.08%
RUN	F	0.08%
UAN	B	0.08%
BKNG	A	0.08%
ITGR	B	0.08%
ALG	B	0.08%
LXU	B	0.08%
TJX	A	0.07%
NBIX	C	0.07%
FI	A	0.07%
CWT	D	0.07%
ENPH	F	0.07%
MMSI	B	0.07%
ADP	B	0.07%
HAE	C	0.07%
UNFI	A	0.06%
EQH	B	0.06%
WM	A	0.06%
MMM	D	0.06%
CNMD	C	0.06%
AMD	F	0.06%
CRBG	B	0.06%
MAR	B	0.06%
SHW	A	0.05%
SJW	D	0.05%
ADBE	C	0.05%
EXPE	B	0.05%
OPK	C	0.05%
APH	A	0.05%
LPLA	A	0.05%
SRPT	D	0.05%
PEN	B	0.05%
LNN	B	0.04%
SNEX	B	0.04%
ADI	D	0.04%
AZO	C	0.04%
RSG	A	0.04%
APO	B	0.04%
LYV	A	0.04%
TMHC	B	0.04%
MEDP	D	0.04%
RVMD	C	0.04%
PCVX	D	0.04%
SCSC	B	0.04%
ITCI	C	0.04%
OMI	F	0.04%
NOVT	D	0.04%
AVNS	F	0.04%
MD	B	0.04%
ORLY	B	0.04%
CTAS	B	0.04%
EMR	A	0.04%
PH	A	0.04%
TDS	B	0.04%
AWR	B	0.04%
WMG	C	0.04%
KLAC	D	0.04%
KLG	C	0.04%
TWI	F	0.03%
EL	F	0.03%
LNTH	D	0.03%
CME	A	0.03%
CORT	B	0.03%
USM	B	0.03%
MCO	B	0.03%
WELL	A	0.03%
OPCH	D	0.03%
HALO	F	0.03%
KBH	D	0.03%
JXN	C	0.03%
MSI	B	0.03%
HWKN	B	0.03%
SMMT	D	0.03%
WTS	B	0.03%
ENSG	D	0.03%
NEO	C	0.03%
GNW	A	0.03%
SGRY	F	0.03%
CHWY	B	0.03%
ITW	B	0.03%
CYTK	F	0.03%
SPGI	C	0.03%
ICE	C	0.03%
OFIX	B	0.03%
AMT	D	0.03%
UPS	C	0.03%
AMRX	C	0.03%
ENR	B	0.03%
INTU	C	0.03%
KDP	D	0.03%
REZI	A	0.03%
IT	C	0.03%
BPMC	C	0.03%
SANM	B	0.03%
VYX	B	0.03%
CNXN	C	0.03%
VKTX	F	0.03%
BKD	D	0.02%
SUPN	C	0.02%
NTRA	B	0.02%
MSEX	B	0.02%
STC	B	0.02%
JANX	C	0.02%
DNLI	D	0.02%
WDAY	B	0.02%
APP	B	0.02%
AIT	A	0.02%
ACLX	C	0.02%
PCRX	C	0.02%
ARES	A	0.02%
EWTX	C	0.02%
UTZ	D	0.02%
SIGI	C	0.02%
SRRK	B	0.02%
PANW	C	0.02%
NATL	B	0.02%
VRT	B	0.02%
RARE	D	0.02%
TGTX	B	0.02%
KELYA	F	0.02%
CCS	D	0.02%
IDXX	F	0.02%
FTNT	C	0.02%
ADTN	A	0.02%
CENTA	C	0.02%
ANET	C	0.02%
GKOS	B	0.02%
APLS	D	0.02%
INSM	C	0.02%
MHO	D	0.02%
THS	D	0.02%
AXSM	B	0.02%
SNPS	B	0.02%
PLXS	B	0.02%
MRVL	B	0.02%
ADV	D	0.02%
PFSI	D	0.02%
COOP	B	0.02%
TSCO	D	0.02%
SMPL	B	0.02%
ATEC	C	0.02%
TPH	D	0.02%
KRYS	B	0.02%
ENTG	D	0.02%
AORT	B	0.02%
ALIT	C	0.02%
ACAD	D	0.02%
GH	B	0.02%
MCY	A	0.02%
CRNX	C	0.02%
PTCT	B	0.02%
APD	A	0.02%
XRX	F	0.02%
JJSF	B	0.02%
COMP	B	0.02%
MMS	F	0.02%
TNET	D	0.02%
OPEN	D	0.02%
BBIO	F	0.02%
MDGL	B	0.02%
TNDM	F	0.02%
FLGT	F	0.02%
EQIX	A	0.02%
ATRC	C	0.02%
PLD	D	0.02%
UNP	C	0.02%
NOW	A	0.02%
NUVL	D	0.02%
NSP	D	0.02%
ABM	B	0.02%
MTH	D	0.02%
UVE	B	0.01%
CCRN	F	0.01%
SONO	C	0.01%
VCYT	B	0.01%
CTS	C	0.01%
OCUL	D	0.01%
NSC	B	0.01%
AEO	F	0.01%
CGEM	F	0.01%
PCTY	B	0.01%
ELVN	D	0.01%
VCTR	B	0.01%
FULT	A	0.01%
RGNX	F	0.01%
VZIO	A	0.01%
PLUS	F	0.01%
BBSI	B	0.01%
SFNC	B	0.01%
PLAY	D	0.01%
USPH	B	0.01%
SATS	D	0.01%
URBN	C	0.01%
DIOD	D	0.01%
AGL	F	0.01%
KE	C	0.01%
UFCS	B	0.01%
ABCB	B	0.01%
UBSI	B	0.01%
IRTC	D	0.01%
LFST	C	0.01%
NX	C	0.01%
KURA	F	0.01%
BCRX	D	0.01%
ONB	B	0.01%
VRDN	D	0.01%
GMS	B	0.01%
CVCO	A	0.01%
DYN	F	0.01%
DORM	B	0.01%
GRBK	D	0.01%
TMCI	D	0.01%
MIRM	B	0.01%
CMC	B	0.01%
FOUR	B	0.01%
WGO	C	0.01%
APAM	B	0.01%
BKU	A	0.01%
PJT	A	0.01%
LBPH	A	0.01%
DAWN	F	0.01%
UCTT	D	0.01%
ACT	D	0.01%
WD	D	0.01%
KFRC	D	0.01%
SSB	B	0.01%
MC	B	0.01%
SYNA	C	0.01%
SFM	A	0.01%
NVAX	F	0.01%
IMVT	F	0.01%
PRLB	A	0.01%
NTLA	F	0.01%
LCII	C	0.01%
PTGX	C	0.01%
AVO	C	0.01%
HURN	B	0.01%
BXC	B	0.01%
ACIW	B	0.01%
CADE	B	0.01%
FIX	A	0.01%
RCKT	F	0.01%
SNDX	F	0.01%
KNF	A	0.01%
HWC	B	0.01%
VEEV	C	0.01%
HMN	B	0.01%
AKRO	B	0.01%
SKY	A	0.01%
AMN	F	0.01%
PRG	C	0.01%
TDC	D	0.01%
ARDX	F	0.01%
MYGN	F	0.01%
HGV	B	0.01%
BRC	D	0.01%
ASTH	D	0.01%
ASB	B	0.01%
FG	B	0.01%
ASIX	A	0.01%
RDN	C	0.01%
SMCI	F	0.01%
TCBI	B	0.01%
UMBF	B	0.01%
HTH	B	0.01%
ENS	D	0.01%
SSYS	C	0.01%
COLL	F	0.01%
CSX	B	0.01%
KWR	C	0.01%
CRVL	A	0.01%
GERN	D	0.01%
LANC	C	0.01%
TRUP	B	0.01%
PIPR	B	0.01%
IRT	A	0.01%
MNKD	C	0.01%
DFH	D	0.01%
AXNX	C	0.01%
RYAN	B	0.01%
TOST	B	0.01%
UPBD	B	0.01%
BEAM	D	0.01%
JBSS	D	0.01%
IOSP	B	0.01%
BGS	F	0.01%
TDOC	C	0.01%
MORN	B	0.01%
ANIP	F	0.01%
SBH	C	0.01%
SXT	B	0.01%
MRVI	F	0.01%
CABO	C	0.01%
TNC	D	0.01%
AIV	C	0.01%
FL	F	0.01%
UNF	B	0.01%
ADUS	D	0.01%
INVA	D	0.01%
ADMA	B	0.01%
EXLS	B	0.01%
RXRX	F	0.01%
GSAT	C	0.01%
CRSR	C	0.01%
CLDX	F	0.01%
VLY	B	0.01%
NGVT	B	0.01%
FHI	A	0.01%
EXPI	C	0.01%
TVTX	B	0.01%
ICFI	F	0.01%
SPTN	D	0.01%
NSIT	F	0.01%
BECN	B	0.01%
TEX	D	0.01%
MDXG	B	0.01%
ERIE	D	0.01%
HRMY	D	0.01%
CGON	F	0.01%
NMRK	B	0.01%
IDT	B	0.01%
KO	D	0.01%
BCC	B	0.01%
AGIO	C	0.01%
CPRX	C	0.01%
IRWD	F	0.01%
FNA	C	0.01%
KFY	B	0.01%
BGC	C	0.01%
ARVN	D	0.01%
TWST	D	0.01%
LMAT	A	0.01%
CDNS	B	0.01%
IDYA	F	0.01%
HOV	D	0.01%
NHC	C	0.01%
BURL	A	0.01%
TGNA	B	0.01%
VSH	D	0.01%
UFPI	B	0.01%
PDCO	D	0.01%
CSTL	D	0.01%
LGF.A	C	0.01%
RNA	D	0.01%
INSP	D	0.01%
KYMR	D	0.01%
TTMI	B	0.01%
STGW	B	0.01%
AMRK	F	0.01%
TARS	B	0.01%
LGND	B	0.01%
PBH	A	0.01%
ASGN	F	0.01%
DVAX	C	0.01%
BZH	B	0.01%
UFPT	B	0.01%
LGIH	D	0.01%
XNCR	B	0.01%
KROS	D	0.01%
NARI	C	0.01%
ADSK	A	0.01%
CNO	A	0.01%
GT	C	0.01%
BCO	D	0.01%
RYTM	C	0.01%
IOVA	F	0.01%
BHE	B	0.01%
FDX	B	0.01%
PRVA	B	0.01%
VCEL	B	0.01%
LILAK	D	0.01%
VERA	B	0.01%
ABNB	C	0.01%
PSA	D	0.01%
CNDT	C	0.01%
VRSK	A	0.01%
VIR	D	0.01%
ROP	B	0.01%
AMPH	D	0.01%
EDR	A	0.01%
FOLD	F	0.01%
HAIN	C	0.01%
SWTX	C	0.01%
GDDY	A	0.01%
ARWR	F	0.01%
SCLX	F	0.0%
OABI	F	0.0%
PHAT	F	0.0%
ABUS	D	0.0%
BLFS	C	0.0%
ABSI	F	0.0%
QTRX	F	0.0%
PRME	F	0.0%
ANAB	F	0.0%
CELC	F	0.0%
OLMA	F	0.0%
SVRA	D	0.0%
ORIC	F	0.0%
LYEL	F	0.0%
SIGA	F	0.0%
STOK	F	0.0%
FORM	D	0.0%
OSCR	D	0.0%
YMAB	F	0.0%
LQDA	D	0.0%
ALEC	F	0.0%
ALT	C	0.0%
CTKB	C	0.0%
NUVB	C	0.0%
PLAB	C	0.0%
RLAY	F	0.0%
DFIN	D	0.0%
PGNY	F	0.0%
MPWR	F	0.0%
TYRA	F	0.0%
FDMT	F	0.0%
IMNM	F	0.0%
COGT	D	0.0%
MODG	F	0.0%
BSY	D	0.0%
ARCT	F	0.0%
WAFD	B	0.0%
GIC	D	0.0%
APLT	B	0.0%
NVEE	F	0.0%
EOLS	D	0.0%
ZEUS	C	0.0%
IBP	D	0.0%
WSFS	A	0.0%
CRAI	B	0.0%
HZO	D	0.0%
UCB	A	0.0%
SAGE	F	0.0%
MMI	B	0.0%
PLRX	F	0.0%
MNMD	C	0.0%
CNS	B	0.0%
AEIS	B	0.0%
MLYS	F	0.0%
EYPT	F	0.0%
SAVA	D	0.0%
ETNB	C	0.0%
IRON	B	0.0%
VSAT	F	0.0%
SAFT	C	0.0%
GOLF	B	0.0%
SPRY	D	0.0%
STEP	B	0.0%
CBT	C	0.0%
ITRI	B	0.0%
MLI	C	0.0%
AZZ	B	0.0%
ARQT	C	0.0%
KIDS	D	0.0%
ANF	C	0.0%
SIBN	F	0.0%
TTD	B	0.0%
ROG	D	0.0%
RCUS	F	0.0%
CBZ	B	0.0%
SANA	F	0.0%
PNTG	D	0.0%
NRIX	D	0.0%
EVH	F	0.0%
HOMB	A	0.0%
SCHL	D	0.0%
HSII	B	0.0%
CATY	B	0.0%
YORW	D	0.0%
POOL	C	0.0%
SLAB	D	0.0%
CARR	D	0.0%
GBCI	B	0.0%

HKND Underweight 315 Positions Relative to IWS

Symbol	Grade	Weight
WMB	A	-0.76%
OKE	A	-0.7%
KMI	A	-0.58%
MSTR	C	-0.55%
LHX	C	-0.51%
PEG	A	-0.49%
PCG	A	-0.49%
HWM	A	-0.47%
BKR	B	-0.47%
DAL	C	-0.45%
XEL	A	-0.43%
EXC	C	-0.43%
FERG	B	-0.42%
ACGL	D	-0.4%
NUE	C	-0.39%
RCL	A	-0.39%
WAB	B	-0.38%
FANG	D	-0.37%
ED	D	-0.37%
MLM	B	-0.37%
GRMN	B	-0.36%
VICI	C	-0.36%
ETR	B	-0.35%
EIX	B	-0.35%
WTW	B	-0.35%
WEC	A	-0.34%
UAL	A	-0.33%
VMC	B	-0.3%
HAL	C	-0.29%
SW	A	-0.29%
CCL	B	-0.27%
DVN	F	-0.27%
AEE	A	-0.27%
DTE	C	-0.27%
PPL	B	-0.27%
YUM	B	-0.26%
EQT	B	-0.26%
LNG	B	-0.26%
FE	C	-0.26%
WY	D	-0.25%
ZM	B	-0.24%
HOOD	B	-0.24%
EXE	B	-0.24%
LYB	F	-0.24%
LDOS	C	-0.24%
TDY	B	-0.24%
STE	F	-0.24%
ATO	A	-0.24%
ES	D	-0.24%
STLD	B	-0.23%
PKG	A	-0.23%
CBOE	B	-0.23%
IP	B	-0.22%
CMS	C	-0.22%
BALL	D	-0.21%
CTRA	B	-0.21%
COO	D	-0.21%
LUV	C	-0.21%
CNP	B	-0.21%
TSN	B	-0.2%
CVNA	B	-0.19%
PNR	A	-0.19%
MRO	B	-0.18%
NI	A	-0.18%
DG	F	-0.18%
OC	A	-0.18%
LNT	A	-0.17%
TXT	D	-0.17%
EXPD	D	-0.16%
EVRG	A	-0.16%
HES	B	-0.16%
APTV	D	-0.16%
USFD	A	-0.16%
AMCR	D	-0.16%
JBHT	C	-0.16%
TWLO	A	-0.15%
RPM	A	-0.15%
RNR	C	-0.15%
EG	C	-0.15%
CW	B	-0.15%
CHRW	C	-0.14%
GLPI	C	-0.14%
DLTR	F	-0.14%
AFRM	A	-0.14%
TPR	B	-0.14%
KMX	B	-0.13%
BJ	A	-0.13%
OVV	B	-0.13%
Z	A	-0.13%
SOFI	A	-0.13%
FTI	A	-0.13%
NVT	B	-0.13%
NTNX	A	-0.13%
ALLE	D	-0.13%
CASY	A	-0.13%
FOXA	B	-0.12%
CCK	C	-0.12%
CUBE	D	-0.12%
FWONK	B	-0.12%
NWSA	B	-0.12%
TAP	C	-0.12%
PFGC	B	-0.12%
AA	B	-0.12%
NRG	B	-0.12%
MKTX	D	-0.11%
DPZ	C	-0.11%
ARMK	B	-0.11%
DTM	B	-0.11%
AVY	D	-0.11%
OHI	C	-0.11%
AES	F	-0.11%
NLY	C	-0.11%
BLD	D	-0.11%
LAD	A	-0.11%
ALSN	B	-0.11%
WWD	B	-0.11%
PRI	A	-0.11%
CACI	D	-0.11%
PNW	B	-0.11%
GWRE	A	-0.1%
MGM	D	-0.1%
KNX	B	-0.1%
AAL	B	-0.1%
AR	B	-0.1%
RBC	A	-0.1%
REXR	F	-0.1%
FBIN	D	-0.1%
RGLD	C	-0.1%
BWXT	B	-0.1%
DRI	B	-0.1%
BRBR	A	-0.1%
CNH	C	-0.1%
BWA	D	-0.09%
G	B	-0.09%
CHRD	D	-0.09%
RRC	B	-0.09%
CZR	F	-0.09%
X	C	-0.09%
APA	D	-0.09%
EGP	F	-0.09%
RIVN	F	-0.09%
RL	B	-0.09%
GPK	C	-0.09%
HRL	D	-0.09%
MTZ	B	-0.09%
WYNN	D	-0.09%
OGE	B	-0.09%
ELAN	D	-0.08%
MTSI	B	-0.08%
SSD	D	-0.08%
FR	D	-0.08%
ATI	D	-0.08%
GNTX	C	-0.08%
AGNC	D	-0.08%
OSK	B	-0.08%
VFC	C	-0.08%
KBR	F	-0.08%
CART	C	-0.08%
SKX	D	-0.08%
COKE	C	-0.08%
MHK	D	-0.08%
LBRDK	C	-0.08%
LW	C	-0.08%
ADC	B	-0.08%
JAZZ	B	-0.08%
PR	B	-0.08%
HII	D	-0.08%
NNN	D	-0.08%
IDA	A	-0.07%
S	B	-0.07%
STWD	C	-0.07%
BPOP	B	-0.07%
COLD	D	-0.07%
MTDR	B	-0.07%
SAIC	F	-0.07%
NOV	C	-0.07%
MSA	D	-0.07%
PARA	C	-0.07%
CGNX	C	-0.07%
LSTR	D	-0.07%
BILL	A	-0.07%
OKTA	C	-0.07%
STAG	F	-0.07%
MKSI	C	-0.07%
HR	C	-0.07%
WEX	D	-0.07%
AZPN	A	-0.07%
DINO	D	-0.07%
AXS	A	-0.07%
VMI	B	-0.07%
ALK	C	-0.07%
WSM	B	-0.07%
BYD	C	-0.06%
UGI	A	-0.06%
AL	B	-0.06%
BFAM	D	-0.06%
SLM	A	-0.06%
CCCS	B	-0.06%
SN	D	-0.06%
LEA	D	-0.06%
LITE	B	-0.06%
RITM	C	-0.06%
NFG	A	-0.06%
OLLI	D	-0.06%
DOCS	C	-0.06%
PVH	C	-0.06%
SAIA	B	-0.06%
JHG	A	-0.06%
AN	C	-0.05%
M	D	-0.05%
SLGN	A	-0.05%
RYN	D	-0.05%
AWI	A	-0.05%
PSN	D	-0.05%
WSC	D	-0.05%
KRC	C	-0.05%
CUZ	B	-0.05%
AGO	B	-0.05%
ST	F	-0.05%
ROIV	C	-0.05%
CROX	D	-0.05%
HXL	D	-0.05%
OLN	D	-0.05%
SON	D	-0.05%
AM	A	-0.04%
EPR	D	-0.04%
HIW	D	-0.04%
CLF	F	-0.04%
W	F	-0.04%
VNOM	A	-0.04%
PRGO	B	-0.04%
CIVI	D	-0.04%
DNB	B	-0.04%
MDU	D	-0.04%
NEU	C	-0.04%
PLNT	A	-0.04%
RH	B	-0.04%
OLED	D	-0.04%
LINE	F	-0.04%
HOG	D	-0.04%
HAYW	B	-0.03%
JWN	C	-0.03%
CWEN	C	-0.03%
YETI	C	-0.03%
CPRI	F	-0.03%
EXP	A	-0.03%
MP	B	-0.03%
MPW	F	-0.03%
AGR	B	-0.03%
COLM	B	-0.03%
ECG	C	-0.03%
U	C	-0.03%
NSA	D	-0.03%
PAG	B	-0.03%
PK	B	-0.03%
SNRE	D	-0.03%
LLYVK	A	-0.03%
BROS	B	-0.03%
SPR	D	-0.03%
AMTM	D	-0.03%
LOPE	B	-0.03%
PENN	C	-0.03%
ZI	D	-0.03%
SNDR	B	-0.02%
LEG	F	-0.02%
WEN	D	-0.02%
UA	B	-0.02%
QS	F	-0.02%
CLVT	F	-0.02%
GO	C	-0.02%
BIRK	D	-0.02%
ALAB	B	-0.02%
VSTS	C	-0.02%
CRI	D	-0.02%
UAA	C	-0.02%
AZEK	A	-0.02%
PPC	C	-0.02%
LCID	F	-0.02%
ETSY	D	-0.02%
LBTYK	A	-0.02%
INFA	D	-0.02%
KSS	F	-0.02%
QDEL	F	-0.02%
LYFT	C	-0.02%
LBTYA	A	-0.02%
GLOB	B	-0.02%
SHC	F	-0.02%
LPX	B	-0.02%
ADT	C	-0.02%
SAM	C	-0.02%
PLTK	B	-0.01%
DJT	C	-0.01%
CACC	D	-0.01%
SEB	F	-0.01%
PATH	C	-0.01%
TFSL	A	-0.01%
WOLF	F	-0.01%
CWEN	C	-0.01%
LSCC	D	-0.01%
HCP	B	-0.01%
CAR	C	-0.01%
FWONA	B	-0.01%
PYCR	C	-0.01%
AS	B	-0.01%
CERT	F	-0.01%
DV	C	-0.01%
LLYVA	A	-0.01%
NCNO	B	-0.01%
DDS	B	-0.01%
LOAR	A	-0.0%
PARAA	B	-0.0%
SEG	B	-0.0%
NFE	D	-0.0%
GRAL	C	-0.0%
LAZ	B	-0.0%