HKND vs. MFUS ETF Comparison

Comparison of Humankind US Stock ETF (HKND) to PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS)

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

$31.49

Average Daily Volume

385

Number of Holdings ^*

929

* may have additional holdings in another (foreign) market

MFUS

PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF

MFUS Description

The investment seeks to track the investment results of the RAFI Dynamic Multi-Factor U.S. Index. The fund seeks to achieve its investment objective by investing at least 80% of its total assets (exclusive of collateral held from securities lending) in the component securities of the RAFI Dynamic Multi-Factor U.S. Index. The underlying index is constructed by RAFI Indices, LLC (the index provider) using a rules-based approach to construct factor portfolios within the underlying index. The underlying index consists of factor portfolios, each of which emphasizes one of the following factors: value, low volatility, quality, momentum and size.

Grade (RS Rating)

Last Trade

$46.70

Average Daily Volume

6,620

Number of Holdings ^*

769

* may have additional holdings in another (foreign) market

Performance

Period	HKND	MFUS
30 Days	5.57%	4.85%
60 Days	2.78%	2.10%
90 Days	4.97%	5.68%
12 Months	16.76%	25.12%

406 Overlapping Holdings

Symbol	Grade	Weight in HKND	Weight in MFUS	Overlap
AAPL	B	3.42%	0.74%	0.74%
ABBV	D	1.62%	0.65%	0.65%
ABM	B	0.18%	0.03%	0.03%
ACM	C	0.17%	0.05%	0.05%
ADBE	D	0.06%	0.49%	0.06%
ADM	C	2.7%	0.27%	0.27%
ADP	D	0.12%	0.09%	0.09%
ADSK	F	0.01%	0.17%	0.01%
ADTN	D	0.01%	0.01%	0.01%
AEO	B	0.02%	0.12%	0.02%
AFL	A	0.11%	0.1%	0.1%
AGCO	F	0.81%	0.02%	0.02%
AIG	A	0.27%	0.36%	0.27%
AIT	C	0.01%	0.02%	0.01%
AIZ	D	0.04%	0.05%	0.04%
AJG	C	0.07%	0.15%	0.07%
AKAM	D	0.02%	0.05%	0.02%
ALGN	F	0.02%	0.03%	0.02%
ALL	B	0.31%	0.29%	0.29%
AMED	C	0.04%	0.01%	0.01%
AMG	D	0.01%	0.05%	0.01%
AMGN	B	0.9%	0.75%	0.75%
AMH	B	0.01%	0.03%	0.01%
AMN	C	0.01%	0.01%	0.01%
AMP	C	0.04%	0.01%	0.01%
AMZN	A	1.44%	1.62%	1.44%
ANDE	F	0.11%	0.02%	0.02%
ANET	C	0.01%	0.16%	0.01%
ANF	B	0.01%	0.29%	0.01%
ANSS	D	0.01%	0.08%	0.01%
APAM	C	0.01%	0.03%	0.01%
APH	A	0.01%	0.15%	0.01%
APLE	F	0.01%	0.04%	0.01%
APO	C	0.02%	0.12%	0.02%
APP	B	0.01%	0.03%	0.01%
ARES	A	0.01%	0.1%	0.01%
ARW	B	0.05%	0.06%	0.05%
ATR	A	0.01%	0.07%	0.01%
AVGO	C	0.36%	1.68%	0.36%
AVT	A	0.03%	0.05%	0.03%
AWI	D	0.01%	0.03%	0.01%
AYI	C	0.01%	0.08%	0.01%
AZO	D	0.01%	0.23%	0.01%
BAX	F	0.32%	0.03%	0.03%
BBWI	C	0.03%	0.03%	0.03%
BBY	D	0.19%	0.17%	0.17%
BDX	F	0.77%	0.09%	0.09%
BEN	F	0.02%	0.04%	0.02%
BERY	D	0.02%	0.05%	0.02%
BHF	D	0.02%	0.04%	0.02%
BIIB	C	0.35%	0.1%	0.1%
BK	A	0.06%	0.2%	0.06%
BKNG	B	0.09%	0.61%	0.09%
BLD	D	0.0%	0.04%	0.0%
BLDR	D	0.01%	0.05%	0.01%
BMRN	F	0.11%	0.02%	0.02%
BMY	F	0.88%	0.22%	0.22%
BR	D	0.03%	0.16%	0.03%
BRKR	D	0.04%	0.03%	0.03%
BRO	C	0.04%	0.11%	0.04%
BSX	B	0.56%	0.22%	0.22%
BSY	A	0.01%	0.04%	0.01%
BXP	F	0.01%	0.01%	0.01%
C	A	0.13%	0.9%	0.13%
CAG	B	0.18%	0.02%	0.02%
CAH	F	0.3%	0.3%	0.3%
CAT	D	0.04%	0.56%	0.04%
CBT	B	0.03%	0.05%	0.03%
CDNS	D	0.01%	0.17%	0.01%
CDW	F	0.13%	0.04%	0.04%
CFG	A	0.05%	0.02%	0.02%
CG	D	0.02%	0.02%	0.02%
CHD	A	0.27%	0.06%	0.06%
CHE	D	0.04%	0.06%	0.04%
CHTR	F	0.12%	0.2%	0.12%
CL	A	0.35%	0.18%	0.18%
CLH	B	0.02%	0.04%	0.02%
CLX	F	0.08%	0.12%	0.08%
CMA	B	0.02%	0.01%	0.01%
CMCSA	D	0.7%	0.65%	0.65%
CME	C	0.02%	0.08%	0.02%
CMG	A	0.01%	0.25%	0.01%
CNM	A	0.0%	0.01%	0.0%
CNO	B	0.01%	0.03%	0.01%
COF	B	0.12%	0.38%	0.12%
COKE	B	0.03%	0.02%	0.02%
COLD	F	0.05%	0.04%	0.04%
COOP	A	0.01%	0.04%	0.01%
COST	B	0.03%	1.18%	0.03%
CPB	B	0.07%	0.01%	0.01%
CPT	B	0.01%	0.05%	0.01%
CRI	F	0.01%	0.06%	0.01%
CRM	D	0.14%	0.55%	0.14%
CSGS	F	0.01%	0.01%	0.01%
CTAS	B	0.08%	0.2%	0.08%
CTSH	D	0.14%	0.06%	0.06%
CTVA	B	1.87%	0.04%	0.04%
CUBE	D	0.0%	0.03%	0.0%
CVLT	A	0.0%	0.02%	0.0%
CVS	F	0.16%	0.67%	0.16%
DBX	F	0.0%	0.01%	0.0%
DD	A	0.39%	0.1%	0.1%
DDS	C	0.03%	0.05%	0.03%
DEI	B	0.0%	0.01%	0.0%
DELL	B	0.44%	0.09%	0.09%
DFS	C	0.08%	0.05%	0.05%
DG	D	0.08%	0.09%	0.08%
DGX	B	0.5%	0.06%	0.06%
DKS	C	0.04%	0.07%	0.04%
DLB	C	0.01%	0.04%	0.01%
DLR	D	0.03%	0.08%	0.03%
DLTR	F	0.07%	0.04%	0.04%
DOX	D	0.04%	0.03%	0.03%
DRH	F	0.0%	0.02%	0.0%
DVA	B	0.11%	0.15%	0.11%
DXC	F	0.08%	0.02%	0.02%
EA	F	0.02%	0.07%	0.02%
EBAY	D	0.06%	0.26%	0.06%
EFX	D	0.02%	0.08%	0.02%
EGP	D	0.0%	0.01%	0.0%
EHC	A	0.09%	0.07%	0.07%
ELAN	B	0.01%	0.01%	0.01%
ELS	D	0.01%	0.03%	0.01%
ELV	A	0.5%	0.08%	0.08%
EME	A	0.01%	0.03%	0.01%
EQH	A	0.06%	0.05%	0.05%
EQIX	F	0.03%	0.05%	0.03%
ERIE	C	0.02%	0.07%	0.02%
EVR	C	0.02%	0.09%	0.02%
EWBC	A	0.02%	0.02%	0.02%
EXEL	F	0.05%	0.02%	0.02%
EXPE	F	0.03%	0.03%	0.03%
EXR	D	0.01%	0.06%	0.01%
FAF	D	0.05%	0.02%	0.02%
FAST	D	0.05%	0.1%	0.05%
FCN	B	0.05%	0.07%	0.05%
FCNCA	B	0.02%	0.05%	0.02%
FDS	D	0.01%	0.06%	0.01%
FELE	D	0.07%	0.01%	0.01%
FFIV	D	0.02%	0.02%	0.02%
FHI	D	0.01%	0.03%	0.01%
FICO	C	0.01%	0.18%	0.01%
FIS	C	0.06%	0.09%	0.06%
FITB	A	0.04%	0.05%	0.04%
FIZZ	D	0.01%	0.01%	0.01%
FL	F	0.02%	0.05%	0.02%
FLO	B	0.09%	0.04%	0.04%
FND	D	0.0%	0.04%	0.0%
FNF	B	0.08%	0.02%	0.02%
FR	D	0.0%	0.02%	0.0%
FTNT	F	0.02%	0.06%	0.02%
GDDY	A	0.03%	0.08%	0.03%
GEHC	D	0.69%	0.02%	0.02%
GES	B	0.01%	0.02%	0.01%
GILD	F	0.65%	0.7%	0.65%
GIS	C	0.4%	0.09%	0.09%
GLW	B	0.01%	0.16%	0.01%
GMED	C	0.11%	0.02%	0.02%
GNW	B	0.03%	0.04%	0.03%
GOOGL	B	4.66%	1.71%	1.71%
GPN	F	0.03%	0.06%	0.03%
GPS	D	0.05%	0.07%	0.05%
GS	A	0.05%	0.17%	0.05%
GWW	D	0.21%	0.21%	0.21%
GXO	C	0.14%	0.01%	0.01%
H	D	0.03%	0.01%	0.01%
HAE	B	0.06%	0.04%	0.04%
HCA	D	0.97%	0.14%	0.14%
HD	D	0.53%	0.45%	0.45%
HIG	C	0.16%	0.05%	0.05%
HLI	A	0.01%	0.07%	0.01%
HLT	D	0.05%	0.11%	0.05%
HOLX	D	0.2%	0.03%	0.03%
HPE	D	0.15%	0.17%	0.15%
HPQ	C	0.54%	0.19%	0.19%
HRB	B	0.02%	0.09%	0.02%
HSIC	D	0.15%	0.03%	0.03%
HST	D	0.03%	0.02%	0.02%
HSY	B	0.09%	0.06%	0.06%
HUBB	D	0.01%	0.09%	0.01%
IART	F	0.04%	0.01%	0.01%
IBKR	B	0.02%	0.05%	0.02%
IBM	D	0.25%	1.1%	0.25%
ICE	C	0.03%	0.26%	0.03%
IDXX	D	0.08%	0.16%	0.08%
INCY	D	0.12%	0.01%	0.01%
INGR	A	0.33%	0.05%	0.05%
INTU	D	0.04%	0.32%	0.04%
INVH	B	0.01%	0.09%	0.01%
IONS	F	0.03%	0.01%	0.01%
IPG	D	0.06%	0.07%	0.06%
IRM	C	0.01%	0.1%	0.01%
ISRG	D	0.26%	0.29%	0.26%
IT	D	0.0%	0.14%	0.0%
IVZ	D	0.02%	0.04%	0.02%
JBGS	F	0.0%	0.01%	0.0%
JBL	D	0.1%	0.1%	0.1%
JEF	B	0.01%	0.03%	0.01%
JJSF	B	0.03%	0.01%	0.01%
JKHY	D	0.02%	0.09%	0.02%
JLL	C	0.12%	0.02%	0.02%
JNJ	F	2.1%	0.91%	0.91%
JPM	B	0.54%	1.2%	0.54%
JWN	B	0.03%	0.03%	0.03%
JXN	A	0.04%	0.08%	0.04%
K	B	0.3%	0.07%	0.07%
KD	A	0.14%	0.07%	0.07%
KDP	B	0.08%	0.04%	0.04%
KMPR	B	0.03%	0.02%	0.02%
KO	A	0.25%	0.54%	0.25%
KSS	F	0.03%	0.04%	0.03%
L	A	0.03%	0.05%	0.03%
LAMR	B	0.02%	0.05%	0.02%
LANC	D	0.01%	0.05%	0.01%
LLY	C	2.12%	2.52%	2.12%
LNC	C	0.03%	0.03%	0.03%
LOW	D	0.35%	0.24%	0.24%
LPLA	B	0.03%	0.08%	0.03%
LUMN	F	0.01%	0.02%	0.01%
LW	F	0.08%	0.06%	0.06%
LXP	D	0.0%	0.01%	0.0%
M	D	0.06%	0.05%	0.05%
MA	D	0.18%	0.99%	0.18%
MAC	D	0.0%	0.05%	0.0%
MAN	B	0.12%	0.04%	0.04%
MANH	D	0.01%	0.06%	0.01%
MAR	D	0.12%	0.16%	0.12%
MASI	D	0.05%	0.02%	0.02%
MC	C	0.01%	0.02%	0.01%
MCK	B	0.46%	0.61%	0.46%
MCO	C	0.04%	0.15%	0.04%
MCY	A	0.03%	0.02%	0.02%
MDLZ	B	0.37%	0.2%	0.2%
MET	C	0.48%	0.19%	0.19%
META	D	0.24%	2.37%	0.24%
MKC	B	0.08%	0.07%	0.07%
MKTX	F	0.0%	0.02%	0.0%
MMC	C	0.27%	0.38%	0.27%
MMM	B	0.18%	0.21%	0.18%
MMS	C	0.05%	0.05%	0.05%
MNST	D	0.03%	0.08%	0.03%
MOH	D	0.08%	0.03%	0.03%
MOS	F	1.54%	0.03%	0.03%
MRK	B	1.88%	1.07%	1.07%
MSCI	D	0.01%	0.06%	0.01%
MSFT	C	3.99%	1.47%	1.47%
MSM	F	0.0%	0.07%	0.0%
MTD	D	0.09%	0.09%	0.09%
MTG	B	0.01%	0.03%	0.01%
MTN	F	0.03%	0.05%	0.03%
NBIX	B	0.07%	0.04%	0.04%
NDAQ	D	0.02%	0.02%	0.02%
NDSN	C	0.01%	0.05%	0.01%
NFLX	C	0.11%	0.55%	0.11%
NOW	D	0.04%	0.3%	0.04%
NSIT	A	0.04%	0.06%	0.04%
NSP	C	0.07%	0.02%	0.02%
NTAP	B	0.04%	0.09%	0.04%
NTCT	F	0.01%	0.02%	0.01%
NXST	C	0.01%	0.05%	0.01%
NYCB	D	0.0%	0.02%	0.0%
NYT	B	0.01%	0.04%	0.01%
OC	B	0.04%	0.07%	0.04%
ODP	F	0.02%	0.02%	0.02%
OGN	B	0.04%	0.08%	0.04%
OHI	B	0.01%	0.02%	0.01%
OMC	B	0.09%	0.09%	0.09%
OMF	B	0.01%	0.04%	0.01%
OMI	F	0.02%	0.03%	0.02%
ORCL	D	0.23%	1.36%	0.23%
ORLY	D	0.01%	0.2%	0.01%
PAG	F	0.01%	0.05%	0.01%
PANW	B	0.02%	0.23%	0.02%
PAYX	D	0.04%	0.05%	0.04%
PDCO	D	0.02%	0.04%	0.02%
PECO	D	0.0%	0.01%	0.0%
PEP	B	0.8%	0.64%	0.64%
PFE	D	2.01%	0.46%	0.46%
PFG	C	0.07%	0.01%	0.01%
PFSI	B	0.01%	0.02%	0.01%
PG	A	4.02%	0.76%	0.76%
PGR	A	0.36%	0.23%	0.23%
PINC	F	0.01%	0.02%	0.01%
PINS	A	0.01%	0.06%	0.01%
PK	D	0.01%	0.06%	0.01%
PLXS	B	0.01%	0.02%	0.01%
POOL	F	0.01%	0.07%	0.01%
POST	B	0.05%	0.05%	0.05%
PRG	B	0.01%	0.02%	0.01%
PRU	A	0.2%	0.25%	0.2%
PSA	D	0.02%	0.03%	0.02%
PSMT	A	0.0%	0.01%	0.0%
PSTG	C	0.01%	0.04%	0.01%
PTC	D	0.01%	0.05%	0.01%
R	A	0.02%	0.05%	0.02%
REGN	C	0.68%	0.27%	0.27%
RGA	A	0.12%	0.02%	0.02%
RHI	D	0.03%	0.03%	0.03%
RL	D	0.02%	0.03%	0.02%
RLI	A	0.01%	0.03%	0.01%
RLJ	F	0.0%	0.02%	0.0%
RMD	B	0.18%	0.11%	0.11%
ROKU	F	0.01%	0.02%	0.01%
ROL	B	0.04%	0.05%	0.04%
ROST	D	0.05%	0.09%	0.05%
RPRX	F	0.11%	0.03%	0.03%
RS	D	0.04%	0.08%	0.04%
SANM	B	0.01%	0.05%	0.01%
SATS	C	0.02%	0.01%	0.01%
SBAC	D	0.01%	0.02%	0.01%
SBH	D	0.01%	0.03%	0.01%
SBUX	F	0.07%	0.07%	0.07%
SCHL	F	0.0%	0.01%	0.0%
SCHW	A	0.03%	0.02%	0.02%
SCI	D	0.02%	0.05%	0.02%
SCL	C	0.01%	0.01%	0.01%
SEIC	C	0.01%	0.07%	0.01%
SEM	A	0.09%	0.04%	0.04%
SF	A	0.01%	0.01%	0.01%
SFM	A	0.02%	0.15%	0.02%
SHO	D	0.01%	0.02%	0.01%
SIGI	F	0.02%	0.01%	0.01%
SITC	D	0.0%	0.03%	0.0%
SITE	F	0.01%	0.01%	0.01%
SJM	F	0.12%	0.03%	0.03%
SLG	B	0.0%	0.06%	0.0%
SMG	D	0.02%	0.06%	0.02%
SNAP	B	0.02%	0.04%	0.02%
SNPS	D	0.04%	0.18%	0.04%
SOLV	C	0.03%	0.03%	0.03%
SPB	C	0.05%	0.01%	0.01%
SPG	C	0.04%	0.18%	0.04%
SRCL	D	0.0%	0.03%	0.0%
STAG	D	0.0%	0.01%	0.0%
STC	B	0.02%	0.02%	0.02%
STWD	C	0.0%	0.02%	0.0%
SUI	D	0.01%	0.04%	0.01%
SVC	F	0.0%	0.01%	0.0%
SXT	A	0.02%	0.02%	0.02%
SYF	B	0.08%	0.27%	0.08%
SYK	D	0.75%	0.24%	0.24%
SYY	D	0.14%	0.07%	0.07%
T	B	0.56%	0.7%	0.56%
TDC	F	0.01%	0.03%	0.01%
TDOC	F	0.01%	0.01%	0.01%
TDS	F	0.01%	0.03%	0.01%
TFX	F	0.11%	0.03%	0.03%
TGNA	D	0.01%	0.04%	0.01%
TGT	D	0.3%	0.59%	0.3%
THC	A	0.21%	0.25%	0.21%
THG	A	0.03%	0.04%	0.03%
THS	F	0.04%	0.02%	0.02%
TJX	C	0.18%	0.36%	0.18%
TMUS	B	0.4%	0.11%	0.11%
TNET	F	0.02%	0.01%	0.01%
TROW	D	0.05%	0.1%	0.05%
TRV	D	0.23%	0.2%	0.2%
TSCO	B	0.04%	0.07%	0.04%
TTEK	B	0.08%	0.01%	0.01%
TTWO	D	0.01%	0.12%	0.01%
TW	A	0.0%	0.05%	0.0%
TYL	A	0.01%	0.06%	0.01%
UDR	B	0.01%	0.05%	0.01%
UHAL	B	0.01%	0.02%	0.01%
UHAL	B	0.01%	0.03%	0.01%
UHS	D	0.23%	0.06%	0.06%
ULTA	F	0.02%	0.06%	0.02%
UNF	D	0.02%	0.02%	0.02%
UNM	B	0.05%	0.07%	0.05%
URBN	D	0.02%	0.06%	0.02%
USFD	C	0.15%	0.08%	0.08%
UTHR	B	0.09%	0.14%	0.09%
V	C	0.26%	0.22%	0.22%
VEEV	D	0.01%	0.07%	0.01%
VIRT	B	0.0%	0.03%	0.0%
VNO	F	0.01%	0.03%	0.01%
VRSK	B	0.03%	0.27%	0.03%
VRSN	F	0.01%	0.05%	0.01%
VRTX	C	0.62%	0.23%	0.23%
VZ	D	1.33%	0.59%	0.59%
WAFD	B	0.01%	0.01%	0.01%
WAL	B	0.01%	0.01%	0.01%
WAT	D	0.06%	0.05%	0.05%
WBA	F	0.16%	0.25%	0.16%
WCC	B	0.02%	0.11%	0.02%
WDAY	F	0.02%	0.11%	0.02%
WDC	B	0.07%	0.15%	0.07%
WELL	A	0.04%	0.11%	0.04%
WFC	A	0.36%	1.02%	0.36%
WH	F	0.01%	0.03%	0.01%
WMT	C	1.19%	1.62%	1.19%
WPC	C	0.01%	0.05%	0.01%
WRB	D	0.06%	0.02%	0.02%
WSM	B	0.04%	0.28%	0.04%
WSO	B	0.05%	0.22%	0.05%
WST	D	0.05%	0.1%	0.05%
WTFC	B	0.02%	0.01%	0.01%
WTM	A	0.01%	0.04%	0.01%
WTS	C	0.03%	0.03%	0.03%
WU	C	0.03%	0.08%	0.03%
XHR	D	0.0%	0.02%	0.0%
XRAY	F	0.01%	0.04%	0.01%
XRX	F	0.01%	0.02%	0.01%
XYL	A	0.79%	0.08%	0.08%
ZION	B	0.01%	0.01%	0.01%
ZTS	D	0.01%	0.05%	0.01%

HKND Overweight 524 Positions Relative to MFUS

Symbol	Grade	Weight
DE	B	2.03%
ECL	A	1.96%
BG	B	1.75%
UNH	C	1.14%
FMC	B	1.1%
AWK	B	0.89%
CF	F	0.81%
TMO	D	0.71%
DHR	C	0.7%
MRNA	B	0.64%
DIS	D	0.59%
J	D	0.54%
LH	F	0.5%
CI	D	0.44%
ZBH	D	0.32%
CNC	C	0.31%
ABT	F	0.31%
BAC	B	0.3%
HUM	F	0.29%
STT	C	0.26%
FDP	D	0.25%
EW	D	0.24%
AXP	A	0.21%
PYPL	C	0.19%
IQV	D	0.18%
CBRE	D	0.17%
ALNY	D	0.16%
CWT	B	0.16%
A	C	0.14%
LYV	D	0.14%
AVTR	D	0.13%
BLK	D	0.12%
PNC	B	0.12%
TECH	B	0.11%
DXCM	D	0.11%
WTRG	B	0.11%
VLTO	A	0.1%
USB	D	0.1%
AWR	C	0.09%
GME	B	0.09%
MKL	A	0.08%
BIO	F	0.08%
IFF	A	0.08%
AVD	B	0.08%
SQ	D	0.08%
ILMN	F	0.07%
CINF	D	0.07%
CRL	D	0.07%
FTRE	D	0.07%
RDNT	B	0.07%
EDR	A	0.07%
TFC	B	0.07%
CNA	B	0.07%
SJW	D	0.07%
MS	A	0.07%
ICUI	F	0.06%
ORI	A	0.06%
AFG	C	0.06%
UAN	B	0.06%
AMT	D	0.06%
SRPT	B	0.06%
FOX	B	0.05%
MTB	A	0.05%
MRVI	B	0.05%
RF	B	0.05%
WMG	B	0.05%
UNFI	F	0.05%
ITGR	D	0.05%
WBD	F	0.05%
VOYA	B	0.05%
RKT	B	0.05%
MMSI	B	0.05%
LBRDA	F	0.05%
APLS	F	0.04%
OPK	D	0.04%
ALB	C	0.04%
AVNS	D	0.04%
PLD	D	0.04%
OPCH	D	0.04%
AHCO	D	0.04%
PODD	C	0.04%
LNN	C	0.04%
SNX	A	0.04%
TNDM	B	0.04%
CTLT	D	0.04%
TWI	F	0.03%
KLG	B	0.03%
AVB	A	0.03%
OFIX	C	0.03%
COMP	D	0.03%
SGRY	F	0.03%
PEN	F	0.03%
MD	F	0.03%
DNLI	D	0.03%
SSNC	C	0.03%
KELYA	D	0.03%
EQR	A	0.03%
NWS	D	0.03%
BURL	D	0.03%
MSEX	C	0.03%
AVO	B	0.03%
W	C	0.03%
LNTH	B	0.03%
EMBC	F	0.03%
CNMD	F	0.03%
HALO	C	0.03%
VTR	B	0.03%
NOVT	D	0.03%
HBAN	A	0.03%
ITCI	C	0.03%
SPTN	D	0.03%
NPO	D	0.03%
RARE	F	0.02%
TRU	C	0.02%
NTRA	B	0.02%
CRVL	B	0.02%
SMPL	B	0.02%
CPRX	D	0.02%
STGW	B	0.02%
TROX	B	0.02%
GL	F	0.02%
AXSM	B	0.02%
KRO	A	0.02%
ARE	D	0.02%
IRDM	D	0.02%
WSC	D	0.02%
EXLS	C	0.02%
RJF	C	0.02%
ADUS	A	0.02%
MYGN	A	0.02%
CNXC	D	0.02%
ARWR	F	0.02%
EPAM	D	0.02%
CYH	B	0.02%
MAA	B	0.02%
PRVA	F	0.02%
TDY	D	0.02%
VAC	D	0.02%
SHC	F	0.02%
TPG	D	0.02%
ICFI	C	0.02%
KEY	C	0.02%
FLGT	F	0.02%
FHN	A	0.02%
BRBR	C	0.02%
RVMD	B	0.02%
ST	B	0.02%
PLAY	D	0.02%
DOC	A	0.02%
NTLA	F	0.02%
TITN	F	0.02%
EEFT	C	0.02%
JANX	B	0.02%
CORT	D	0.02%
NEO	D	0.02%
O	B	0.02%
MEDP	D	0.02%
CCI	D	0.02%
ALIT	F	0.02%
BPMC	A	0.02%
AGL	F	0.02%
EXPI	C	0.02%
ASGN	D	0.02%
PTCT	C	0.02%
CERE	B	0.02%
TXG	F	0.02%
FYBR	B	0.02%
EXAS	F	0.02%
TGTX	C	0.02%
LTH	D	0.02%
HAIN	F	0.02%
MDGL	D	0.02%
BGS	B	0.01%
INVA	B	0.01%
EBC	B	0.01%
ETSY	F	0.01%
ENV	B	0.01%
FULT	A	0.01%
PJT	B	0.01%
UCBI	B	0.01%
AXNX	C	0.01%
IRWD	F	0.01%
ARDX	C	0.01%
PRFT	C	0.01%
COLB	C	0.01%
NTRS	C	0.01%
SFNC	D	0.01%
RGNX	F	0.01%
CCRN	F	0.01%
MIRM	F	0.01%
VRDN	F	0.01%
IRTC	F	0.01%
RXRX	F	0.01%
FOUR	F	0.01%
TR	F	0.01%
SAFT	B	0.01%
DCGO	F	0.01%
UMBF	C	0.01%
PRA	C	0.01%
AEIS	D	0.01%
ABCB	B	0.01%
MEG	B	0.01%
SCVL	B	0.01%
HOMB	B	0.01%
ATEC	F	0.01%
BBSI	B	0.01%
HAS	B	0.01%
DNB	D	0.01%
RDUS	F	0.01%
NNN	B	0.01%
GIC	F	0.01%
ZNTL	F	0.01%
HIBB	A	0.01%
FIVE	F	0.01%
TWST	B	0.01%
HROW	F	0.01%
ONB	A	0.01%
KROS	D	0.01%
THRY	C	0.01%
ARMK	C	0.01%
BCRX	D	0.01%
PB	B	0.01%
TCBI	B	0.01%
MATW	D	0.01%
WW	F	0.01%
MNKD	D	0.01%
SLCA	B	0.01%
SSB	D	0.01%
SSTK	F	0.01%
IDT	C	0.01%
BBIO	F	0.01%
HTH	B	0.01%
MORF	F	0.01%
VCTR	A	0.01%
OPEN	F	0.01%
LXU	C	0.01%
UBSI	D	0.01%
DFIN	B	0.01%
FHB	B	0.01%
NARI	F	0.01%
AIRC	A	0.01%
PTGX	D	0.01%
ADMA	A	0.01%
UTZ	B	0.01%
CATY	D	0.01%
TVTX	F	0.01%
OLLI	B	0.01%
RHP	D	0.01%
UFCS	B	0.01%
CFR	D	0.01%
BRX	C	0.01%
OMCL	C	0.01%
AMCX	D	0.01%
INSP	D	0.01%
HMN	A	0.01%
FRT	B	0.01%
KFRC	D	0.01%
ZM	F	0.01%
NVEE	D	0.01%
LFST	B	0.01%
RLAY	F	0.01%
ADPT	D	0.01%
BOWL	F	0.01%
FNB	A	0.01%
MMI	D	0.01%
WRBY	F	0.01%
PIPR	A	0.01%
CBZ	C	0.01%
FG	B	0.01%
ZBRA	A	0.01%
NATL	B	0.01%
DVAX	D	0.01%
UWMC	B	0.01%
USM	C	0.01%
CAL	C	0.01%
BGC	A	0.01%
WOOF	F	0.01%
CHH	F	0.01%
INSM	D	0.01%
EXPO	B	0.01%
OUT	D	0.01%
MPW	D	0.01%
RGEN	F	0.01%
USPH	D	0.01%
ATRC	F	0.01%
PLRX	F	0.01%
SNDX	D	0.01%
HWC	B	0.01%
VRNT	B	0.01%
VLY	F	0.01%
NGVT	B	0.01%
CNDT	B	0.01%
RVNC	F	0.01%
SAGE	F	0.01%
PNFP	C	0.01%
LMAT	A	0.01%
PCTY	D	0.01%
CVGW	C	0.01%
ASB	A	0.01%
RCUS	F	0.01%
ACIW	A	0.01%
CBSH	A	0.01%
CSTL	B	0.01%
CLDX	D	0.01%
CNK	D	0.01%
RH	D	0.01%
REG	F	0.01%
WD	B	0.01%
VCEL	C	0.01%
KFY	C	0.01%
WBS	D	0.01%
MODV	D	0.01%
OSUR	F	0.01%
HGV	D	0.01%
OZK	B	0.01%
KIM	C	0.01%
NVRO	F	0.01%
CHEF	C	0.01%
SP	C	0.01%
NVST	F	0.01%
HURN	F	0.01%
HRMY	C	0.01%
BEAM	F	0.01%
SWAV	A	0.01%
XNCR	B	0.01%
PLNT	D	0.01%
JBSS	D	0.01%
DAY	F	0.01%
SCSC	A	0.01%
AVNT	B	0.01%
KYMR	C	0.01%
LGND	C	0.01%
AGIO	B	0.01%
BOKF	A	0.01%
TNL	D	0.01%
RCM	D	0.01%
DCPH	A	0.01%
ACT	A	0.01%
PLUS	C	0.01%
MTX	A	0.01%
RDN	C	0.01%
AMPH	F	0.01%
TRMB	D	0.01%
CNXN	D	0.01%
YORW	B	0.01%
RYAN	D	0.01%
KOP	F	0.01%
AMC	F	0.01%
CRAI	A	0.01%
BCO	B	0.01%
PCRX	D	0.01%
EVH	F	0.01%
FRPT	B	0.01%
ACAD	F	0.01%
CLNE	F	0.01%
NMRK	D	0.01%
SIX	C	0.01%
SNV	C	0.01%
FOLD	F	0.01%
LGF.A	B	0.01%
SUPN	D	0.01%
RNA	B	0.01%
CYTK	D	0.01%
ESS	A	0.01%
FUN	C	0.01%
CDRE	F	0.01%
BCPC	C	0.01%
NVAX	F	0.01%
GKOS	B	0.01%
MSGS	B	0.01%
VRT	A	0.01%
PACB	F	0.0%
RAPT	F	0.0%
TMCI	F	0.0%
ACCD	F	0.0%
MED	F	0.0%
VSTS	F	0.0%
ZIP	F	0.0%
TBBK	D	0.0%
NRC	F	0.0%
TRNO	F	0.0%
HCSG	D	0.0%
DDOG	D	0.0%
BLFS	B	0.0%
UNIT	F	0.0%
XPOF	F	0.0%
LESL	F	0.0%
FBNC	D	0.0%
ESRT	D	0.0%
CDMO	C	0.0%
BNL	C	0.0%
SHEN	D	0.0%
SBCF	C	0.0%
SASR	B	0.0%
EFSC	B	0.0%
EDIT	F	0.0%
SFBS	C	0.0%
OWL	B	0.0%
UE	B	0.0%
TCBK	B	0.0%
KRG	B	0.0%
LOB	D	0.0%
ALLO	F	0.0%
GSAT	F	0.0%
STBA	B	0.0%
FCF	B	0.0%
ADC	B	0.0%
SYBT	B	0.0%
EGBN	F	0.0%
FIBK	B	0.0%
NBHC	C	0.0%
SRCE	B	0.0%
DOCU	B	0.0%
SIBN	F	0.0%
BRP	B	0.0%
GDOT	C	0.0%
ALEX	C	0.0%
MBIN	B	0.0%
TMP	D	0.0%
BLKB	B	0.0%
EWCZ	F	0.0%
BHLB	B	0.0%
ZI	F	0.0%
SKT	D	0.0%
AMSF	D	0.0%
EQC	B	0.0%
HUBS	D	0.0%
REXR	D	0.0%
PEGA	D	0.0%
PRK	A	0.0%
RAMP	F	0.0%
ENSG	D	0.0%
TTEC	F	0.0%
CUBI	D	0.0%
SPSC	B	0.0%
INFA	D	0.0%
PRGS	F	0.0%
IMXI	D	0.0%
FBK	B	0.0%
NBTB	B	0.0%
CVBF	C	0.0%
CABO	F	0.0%
AUB	C	0.0%
QLYS	F	0.0%
PYCR	F	0.0%
FDMT	D	0.0%
TH	C	0.0%
KNSL	D	0.0%
CALX	F	0.0%
TRUP	F	0.0%
PEB	F	0.0%
NHI	A	0.0%
ATUS	F	0.0%
ALTR	C	0.0%
ECVT	D	0.0%
FFIN	C	0.0%
FUL	C	0.0%
TFSL	B	0.0%
HQY	D	0.0%
FRME	B	0.0%
EPR	C	0.0%
OXM	B	0.0%
CNS	D	0.0%
BANF	B	0.0%
RNST	C	0.0%
TRMK	A	0.0%
AIV	B	0.0%
COGT	C	0.0%
ARCT	F	0.0%
SBRA	A	0.0%
ALHC	B	0.0%
BYND	D	0.0%
INBX	D	0.0%
BANR	B	0.0%
HOPE	D	0.0%
HGTY	B	0.0%
CRWD	C	0.0%
EYE	F	0.0%
INDB	C	0.0%
BOH	D	0.0%
TPL	C	0.0%
COLL	C	0.0%
WSBC	C	0.0%
VCYT	F	0.0%
MAT	D	0.0%
EIG	D	0.0%
PPBI	C	0.0%
ANAB	B	0.0%
OSCR	A	0.0%
STEP	B	0.0%
TOWN	B	0.0%
NWLI	A	0.0%
AZTA	D	0.0%
CADE	B	0.0%
NMIH	A	0.0%
FNA	F	0.0%
TRIP	F	0.0%
TEAM	F	0.0%
FFBC	B	0.0%
ATRI	C	0.0%
APD	C	0.0%
HIMS	D	0.0%
SILK	C	0.0%
SQSP	A	0.0%
SMMT	B	0.0%
RVLV	C	0.0%
HIW	B	0.0%
KIDS	B	0.0%
SKWD	C	0.0%
CUZ	B	0.0%
ANIP	D	0.0%
GBCI	C	0.0%
IBOC	A	0.0%
CBU	B	0.0%
CTKB	F	0.0%
TWKS	C	0.0%
HTLF	A	0.0%
BSIG	D	0.0%
PGNY	F	0.0%
MGRC	D	0.0%
BKD	B	0.0%
SNEX	A	0.0%
KRC	F	0.0%
STAA	D	0.0%

HKND Underweight 363 Positions Relative to MFUS

Symbol	Grade	Weight
BRK.A	D	-1.95%
NVDA	B	-1.91%
QCOM	B	-0.94%
GE	A	-0.83%
XOM	B	-0.77%
MPC	D	-0.76%
INTC	F	-0.71%
AMAT	C	-0.69%
CVX	B	-0.66%
PSX	D	-0.64%
ACN	D	-0.59%
UNP	C	-0.59%
AMD	D	-0.51%
PM	A	-0.49%
CSCO	D	-0.49%
LRCX	D	-0.45%
MO	A	-0.45%
GM	B	-0.44%
LMT	A	-0.42%
VLO	D	-0.4%
MCD	F	-0.4%
KR	B	-0.33%
SPGI	C	-0.33%
KLAC	A	-0.32%
F	D	-0.31%
SMCI	D	-0.31%
ETN	A	-0.28%
UBER	D	-0.27%
MU	B	-0.27%
VST	B	-0.25%
TXN	A	-0.24%
BX	D	-0.24%
UPS	D	-0.23%
CPRT	D	-0.23%
DPZ	B	-0.22%
GEV	C	-0.22%
LYB	C	-0.22%
LII	C	-0.21%
NOC	B	-0.2%
SHW	D	-0.19%
TDG	A	-0.17%
AON	F	-0.17%
CEG	A	-0.16%
KKR	C	-0.16%
DECK	D	-0.16%
KMB	B	-0.15%
BAH	B	-0.15%
MUSA	D	-0.14%
HWM	A	-0.14%
ROP	D	-0.14%
PH	B	-0.14%
PHM	B	-0.14%
KHC	C	-0.13%
CASY	A	-0.13%
BKR	D	-0.13%
VTRS	C	-0.13%
PCAR	D	-0.12%
MRVL	D	-0.12%
TSN	B	-0.12%
YUM	C	-0.12%
CMI	B	-0.11%
GPK	C	-0.11%
COP	C	-0.11%
SNOW	F	-0.11%
RSG	C	-0.11%
AOS	C	-0.11%
FTI	B	-0.11%
STE	D	-0.11%
PNR	C	-0.1%
AN	B	-0.1%
LECO	D	-0.1%
URI	D	-0.1%
PLTR	D	-0.1%
JNPR	D	-0.1%
WRK	A	-0.1%
LHX	A	-0.1%
ALLY	B	-0.1%
EMR	C	-0.1%
RPM	D	-0.1%
CSX	D	-0.1%
TTC	F	-0.09%
CE	C	-0.09%
TAP	F	-0.09%
EXC	B	-0.09%
TOL	B	-0.09%
IR	D	-0.09%
DASH	D	-0.09%
DHI	D	-0.09%
NUE	F	-0.09%
IEX	D	-0.09%
CRS	B	-0.09%
LSTR	D	-0.09%
WM	B	-0.09%
LEN	D	-0.09%
CW	A	-0.08%
CMC	C	-0.08%
GGG	D	-0.08%
GPI	B	-0.08%
SLB	F	-0.08%
COIN	D	-0.08%
WIRE	B	-0.08%
ITW	D	-0.08%
SEE	C	-0.08%
OSK	D	-0.08%
ITT	A	-0.08%
CACI	A	-0.08%
AVY	A	-0.08%
MTH	A	-0.08%
LDOS	A	-0.07%
WEN	B	-0.07%
THO	D	-0.07%
ALSN	D	-0.07%
UFPI	C	-0.07%
HCC	B	-0.07%
MLM	C	-0.07%
OTIS	D	-0.07%
MSI	A	-0.07%
MPWR	B	-0.07%
RCL	A	-0.07%
VMC	C	-0.07%
NRG	B	-0.07%
CHRW	C	-0.07%
PBF	D	-0.07%
ABG	C	-0.07%
SLM	B	-0.07%
GNTX	D	-0.07%
NKE	D	-0.07%
TEX	D	-0.07%
TMHC	C	-0.07%
CCL	F	-0.07%
PWR	B	-0.07%
SIG	D	-0.06%
CNX	B	-0.06%
EXP	A	-0.06%
GLPI	D	-0.06%
EXPD	D	-0.06%
NEM	B	-0.06%
LPX	A	-0.06%
X	D	-0.06%
TPX	D	-0.06%
NWSA	D	-0.06%
CCK	C	-0.06%
TXRH	B	-0.06%
NVR	D	-0.06%
MRO	D	-0.06%
BCC	D	-0.06%
BC	D	-0.06%
BWXT	D	-0.06%
ENTG	D	-0.05%
PPG	D	-0.05%
CPAY	B	-0.05%
SKYW	B	-0.05%
PVH	D	-0.05%
HXL	C	-0.05%
PR	B	-0.05%
RRC	B	-0.05%
LOPE	B	-0.05%
OLN	D	-0.05%
TPH	A	-0.05%
MAS	D	-0.05%
KTB	B	-0.05%
ATI	B	-0.05%
TKR	B	-0.05%
FIX	A	-0.05%
FLEX	C	-0.05%
CALM	D	-0.05%
MLI	B	-0.05%
TRGP	B	-0.05%
HUBG	B	-0.04%
RGLD	B	-0.04%
MOG.A	A	-0.04%
XPO	D	-0.04%
KBH	B	-0.04%
SM	B	-0.04%
HP	F	-0.04%
GATX	C	-0.04%
APG	D	-0.04%
CRUS	A	-0.04%
MUR	C	-0.04%
NOV	D	-0.04%
GT	D	-0.04%
LEA	F	-0.04%
DK	D	-0.04%
BDC	C	-0.04%
GMS	C	-0.04%
AR	B	-0.04%
OI	F	-0.04%
NFG	A	-0.04%
WHR	F	-0.04%
AES	B	-0.04%
SON	C	-0.04%
WTW	D	-0.04%
VVV	D	-0.04%
SLGN	B	-0.04%
DCI	B	-0.04%
ATGE	A	-0.04%
GNRC	B	-0.04%
VSH	C	-0.04%
STZ	D	-0.04%
WAB	A	-0.04%
AXTA	A	-0.04%
CARR	A	-0.04%
BTU	F	-0.04%
MHO	D	-0.04%
VC	C	-0.04%
CHDN	B	-0.03%
SSD	D	-0.03%
TXT	D	-0.03%
MTCH	F	-0.03%
EMN	A	-0.03%
AROC	B	-0.03%
AA	B	-0.03%
AGNC	C	-0.03%
KMI	A	-0.03%
ETRN	B	-0.03%
SWK	F	-0.03%
RUSHA	D	-0.03%
SEB	C	-0.03%
MDU	A	-0.03%
NAVI	F	-0.03%
FOXA	B	-0.03%
SHOO	D	-0.03%
MORN	D	-0.03%
VNT	D	-0.03%
SLVM	A	-0.03%
PRI	D	-0.03%
CC	C	-0.03%
AVA	B	-0.03%
JHG	A	-0.03%
TRN	A	-0.03%
SKX	B	-0.03%
YELP	D	-0.03%
NVT	A	-0.03%
PKG	D	-0.03%
KBR	B	-0.03%
GBX	B	-0.03%
TER	B	-0.03%
GVA	A	-0.03%
IP	C	-0.03%
ASO	F	-0.03%
ACA	B	-0.03%
DBRG	F	-0.03%
ADNT	F	-0.03%
GEO	C	-0.03%
AMKR	C	-0.03%
G	D	-0.03%
LVS	D	-0.03%
OKTA	D	-0.03%
SAIA	F	-0.03%
MSA	C	-0.03%
HNI	A	-0.02%
CVI	F	-0.02%
IOSP	C	-0.02%
LEG	F	-0.02%
PSN	D	-0.02%
LBRDK	F	-0.02%
DNOW	C	-0.02%
APOG	A	-0.02%
OSIS	D	-0.02%
TREX	D	-0.02%
IGT	F	-0.02%
U	F	-0.02%
COHR	D	-0.02%
CRBG	A	-0.02%
CBRL	F	-0.02%
STLD	D	-0.02%
HELE	F	-0.02%
LNW	D	-0.02%
SAM	D	-0.02%
PARA	C	-0.02%
PRIM	A	-0.02%
PTEN	F	-0.02%
CROX	C	-0.02%
DAN	C	-0.02%
HII	D	-0.02%
PMT	B	-0.02%
GHC	A	-0.02%
PNM	C	-0.02%
LZB	D	-0.02%
GPC	B	-0.02%
JBHT	F	-0.02%
ORA	C	-0.02%
Z	F	-0.02%
BKE	C	-0.02%
FLS	A	-0.02%
EPC	B	-0.02%
GEF	D	-0.02%
BWA	B	-0.02%
WERN	D	-0.02%
RYN	F	-0.02%
CIM	F	-0.02%
REZI	D	-0.02%
AIR	B	-0.02%
DRI	F	-0.02%
BFAM	C	-0.02%
BALL	B	-0.02%
NEU	D	-0.02%
HOG	D	-0.02%
WMS	C	-0.02%
TWLO	D	-0.02%
CXW	C	-0.02%
NWL	C	-0.01%
KNX	D	-0.01%
WOLF	F	-0.01%
VSTO	A	-0.01%
JAZZ	D	-0.01%
ECPG	D	-0.01%
RRR	D	-0.01%
TPR	D	-0.01%
APA	F	-0.01%
JBLU	F	-0.01%
UVV	B	-0.01%
MLKN	D	-0.01%
ACI	D	-0.01%
CACC	D	-0.01%
WGO	D	-0.01%
UAL	B	-0.01%
MKSI	D	-0.01%
DOOR	A	-0.01%
HE	F	-0.01%
MHK	D	-0.01%
SOFI	F	-0.01%
SWN	C	-0.01%
JELD	F	-0.01%
HRL	B	-0.01%
VFC	F	-0.01%
ESAB	B	-0.01%
HBI	F	-0.01%
BJ	B	-0.01%
BECN	C	-0.01%
KN	B	-0.01%
TTMI	A	-0.01%
SPR	D	-0.01%
LADR	B	-0.01%
SYNA	D	-0.01%
ARCB	F	-0.01%
KALU	B	-0.01%
ESNT	C	-0.01%
NNI	B	-0.01%
CENTA	C	-0.01%
GWRE	C	-0.01%
WOR	D	-0.01%
KEX	A	-0.01%
CWEN	B	-0.01%
MATX	B	-0.01%
GOLF	D	-0.01%
DINO	D	-0.01%
WWD	A	-0.01%
SNDR	D	-0.01%
EVRG	B	-0.01%
LAUR	A	-0.01%
AMWD	D	-0.01%
BHE	A	-0.01%
SAH	B	-0.01%
DORM	D	-0.01%
ODFL	F	-0.01%
SCS	C	-0.01%
RIVN	F	-0.01%
GD	A	-0.01%
STRA	A	-0.01%
CSL	A	-0.01%
SCCO	B	-0.0%
NOMD	D	-0.0%