IWD vs. PFF ETF Comparison

Comparison of iShares Russell 1000 Value ETF (IWD) to iShares US Preferred Stock ETF (PFF)

IWD

iShares Russell 1000 Value ETF

IWD Description

The investment seeks to track the investment results of an index composed of large- and 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 1000 Value Index (the "underlying index"), which measures the performance of large- and mid-capitalization value sectors of the U.S. equity market. It is a subset of the Russell 1000Â® Index, which measures the performance of the large-capitalization sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$197.71

Average Daily Volume

1,616,962

Number of Holdings ^*

865

* may have additional holdings in another (foreign) market

PFF

iShares US Preferred Stock ETF

PFF Description

The investment seeks to track the investment results of an index composed of U.S. preferred stocks. 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 S&P U.S. Preferred Stock IndexTM (the "underlying index"), which measures the performance of a select group of preferred stocks listed on the New York Stock Exchange (" NYSE"), NYSE Arca, Inc. ("NYSE Arca"), NYSE Amex, NASDAQ Global Select Market, NASDAQ Select Market or NASDAQ Capital Market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$32.70

Average Daily Volume

3,780,916

Number of Holdings ^*

227

* may have additional holdings in another (foreign) market

Performance

Period	IWD	PFF
30 Days	3.53%	-0.29%
60 Days	4.90%	-1.26%
90 Days	6.95%	2.56%
12 Months	29.54%	15.76%

75 Overlapping Holdings

Symbol	Grade	Weight in IWD	Weight in PFF	Overlap
ADC	B	0.03%	0.08%	0.03%
AGNC	D	0.03%	0.14%	0.03%
ALB	C	0.05%	1.35%	0.05%
ALL	A	0.17%	0.16%	0.16%
AMG	B	0.02%	0.09%	0.02%
AMH	D	0.05%	0.07%	0.05%
APO	B	0.08%	0.4%	0.08%
AXS	A	0.03%	0.31%	0.03%
BAC	A	1.23%	0.06%	0.06%
BAC	A	1.23%	0.28%	0.28%
BC	C	0.02%	0.08%	0.02%
BHF	B	0.01%	0.15%	0.01%
C	A	0.51%	1.68%	0.51%
CFG	B	0.08%	0.24%	0.08%
CFR	B	0.03%	0.08%	0.03%
CG	A	0.04%	0.24%	0.04%
CMS	C	0.08%	0.11%	0.08%
COF	B	0.27%	0.06%	0.06%
CTVA	C	0.15%	0.08%	0.08%
DLR	B	0.23%	0.11%	0.11%
DTE	C	0.1%	0.11%	0.1%
DUK	C	0.34%	0.62%	0.34%
EIX	B	0.12%	0.12%	0.12%
EPR	D	0.01%	0.06%	0.01%
F	C	0.17%	0.37%	0.17%
FCNCA	A	0.1%	0.2%	0.1%
FHN	A	0.04%	0.07%	0.04%
FITB	A	0.12%	0.12%	0.12%
FRT	B	0.04%	0.08%	0.04%
GL	B	0.04%	0.14%	0.04%
GS	A	0.53%	0.12%	0.12%
HBAN	A	0.1%	0.1%	0.1%
HIG	B	0.13%	0.22%	0.13%
HPE	B	0.11%	1.13%	0.11%
JPM	A	2.74%	0.41%	0.41%
KEY	B	0.07%	0.25%	0.07%
KIM	A	0.06%	0.12%	0.06%
KKR	A	0.28%	0.24%	0.24%
KMI	A	0.21%	0.13%	0.13%
KMPR	B	0.02%	0.09%	0.02%
LNC	B	0.02%	0.35%	0.02%
MET	A	0.19%	0.37%	0.19%
MS	A	0.57%	0.25%	0.25%
MTB	A	0.14%	0.16%	0.14%
NEE	D	0.61%	0.42%	0.42%
NEE	D	0.61%	1.08%	0.61%
NLY	C	0.04%	0.27%	0.04%
NSA	D	0.01%	0.13%	0.01%
NTRS	A	0.08%	0.22%	0.08%
PCG	A	0.17%	0.07%	0.07%
PNFP	B	0.04%	0.14%	0.04%
PRU	A	0.18%	0.19%	0.18%
PSA	D	0.18%	0.07%	0.07%
REG	B	0.05%	0.07%	0.05%
RF	A	0.09%	0.19%	0.09%
RITM	C	0.02%	0.1%	0.02%
RNR	C	0.05%	0.15%	0.05%
SCHW	B	0.42%	0.31%	0.31%
SF	B	0.04%	0.1%	0.04%
SNV	B	0.03%	0.13%	0.03%
SO	D	0.37%	0.37%	0.37%
STT	A	0.11%	0.31%	0.11%
SYF	B	0.1%	0.33%	0.1%
T	A	0.63%	0.88%	0.63%
T	A	0.63%	0.64%	0.63%
TFC	A	0.24%	0.1%	0.1%
TPG	A	0.02%	0.26%	0.02%
USB	A	0.3%	0.21%	0.21%
VNO	B	0.03%	0.12%	0.03%
VOYA	B	0.03%	0.19%	0.03%
WAL	B	0.04%	0.16%	0.04%
WBS	A	0.04%	0.08%	0.04%
WCC	B	0.03%	0.35%	0.03%
WFC	A	1.01%	0.31%	0.31%
WRB	A	0.07%	0.12%	0.07%

IWD Overweight 793 Positions Relative to PFF

Symbol	Grade	Weight
BRK.A	B	3.35%
XOM	B	2.08%
UNH	C	1.98%
JNJ	D	1.45%
WMT	A	1.42%
PG	A	1.21%
CVX	A	1.08%
CSCO	B	0.91%
ACN	C	0.86%
LIN	D	0.84%
DIS	B	0.82%
PM	B	0.78%
ABT	B	0.78%
MCD	D	0.77%
TMO	F	0.76%
IBM	C	0.73%
VZ	C	0.68%
ABBV	D	0.65%
CMCSA	B	0.64%
TXN	C	0.63%
CAT	B	0.63%
SPGI	C	0.61%
RTX	C	0.61%
LOW	D	0.6%
BLK	C	0.6%
GE	D	0.59%
DHR	F	0.58%
ETN	A	0.56%
PFE	D	0.55%
COP	C	0.51%
BSX	B	0.5%
HON	B	0.49%
CB	C	0.45%
MDT	D	0.44%
TMUS	B	0.44%
BMY	B	0.44%
GILD	C	0.43%
PLD	D	0.41%
MU	D	0.41%
ADI	D	0.4%
KO	D	0.4%
INTC	D	0.4%
SYK	C	0.39%
DE	A	0.39%
AXP	A	0.39%
UPS	C	0.38%
MMC	B	0.37%
MO	A	0.37%
PH	A	0.35%
GEV	B	0.35%
MDLZ	F	0.34%
PYPL	B	0.34%
ICE	C	0.34%
CME	A	0.32%
CI	F	0.32%
HD	A	0.32%
WELL	A	0.32%
FI	A	0.32%
PNC	B	0.32%
GD	F	0.31%
EQIX	A	0.31%
BA	F	0.31%
EOG	A	0.3%
LMT	D	0.3%
ELV	F	0.3%
AMD	F	0.29%
AON	A	0.29%
UNP	C	0.29%
REGN	F	0.28%
EMR	A	0.28%
NOC	D	0.27%
CSX	B	0.27%
WMB	A	0.27%
MRVL	B	0.27%
APD	A	0.27%
TGT	F	0.27%
FDX	B	0.26%
CVS	D	0.26%
CRH	A	0.26%
GM	B	0.25%
MAR	B	0.25%
OKE	A	0.25%
BDX	F	0.25%
TT	A	0.24%
FCX	D	0.24%
SLB	C	0.24%
AFL	B	0.24%
CARR	D	0.24%
MMM	D	0.23%
SRE	A	0.23%
ROP	B	0.23%
NSC	B	0.23%
AJG	B	0.23%
CEG	D	0.23%
TRV	B	0.23%
VRTX	F	0.23%
MPC	D	0.22%
TJX	A	0.22%
JCI	C	0.22%
PCAR	B	0.22%
BK	A	0.22%
TDG	D	0.21%
PSX	C	0.21%
ITW	B	0.2%
AEP	D	0.2%
DHI	D	0.19%
D	C	0.19%
HCA	F	0.19%
AIG	B	0.19%
O	D	0.19%
FIS	C	0.19%
CMI	A	0.19%
MSTR	C	0.19%
CCI	D	0.18%
KVUE	A	0.18%
PEP	F	0.18%
CRM	B	0.18%
LHX	C	0.18%
NEM	D	0.18%
HWM	A	0.17%
RSG	A	0.17%
BKR	B	0.17%
EA	A	0.17%
SPG	B	0.17%
DFS	B	0.17%
PEG	A	0.17%
AME	A	0.17%
MCK	B	0.17%
VLO	C	0.17%
CBRE	B	0.16%
OTIS	C	0.16%
LEN	D	0.16%
IR	B	0.16%
DAL	C	0.16%
URI	B	0.16%
MSI	B	0.16%
A	D	0.15%
FERG	B	0.15%
STZ	D	0.15%
CTSH	B	0.15%
KR	B	0.15%
XEL	A	0.15%
EXC	C	0.15%
APH	A	0.14%
NKE	D	0.14%
NUE	C	0.14%
GIS	D	0.14%
KDP	D	0.14%
ROST	C	0.14%
GLW	B	0.14%
RCL	A	0.14%
CHTR	C	0.14%
ACGL	D	0.14%
GRMN	B	0.13%
NDAQ	A	0.13%
AVB	B	0.13%
PWR	A	0.13%
EW	C	0.13%
VICI	C	0.13%
HUM	C	0.13%
OXY	D	0.13%
MCHP	D	0.13%
FANG	D	0.13%
ED	D	0.13%
AMGN	D	0.13%
GEHC	F	0.13%
MLM	B	0.13%
WAB	B	0.13%
CL	D	0.13%
DD	D	0.13%
EXR	D	0.13%
GPN	B	0.12%
HLT	A	0.12%
ROK	B	0.12%
UAL	A	0.12%
CNC	D	0.12%
DELL	C	0.12%
RJF	A	0.12%
TTWO	A	0.12%
IQV	D	0.12%
WEC	A	0.12%
DOW	F	0.12%
EBAY	D	0.12%
ETR	B	0.12%
WTW	B	0.12%
SQ	B	0.11%
HPQ	B	0.11%
VMC	B	0.11%
DOV	A	0.11%
KHC	F	0.11%
EQR	B	0.11%
ON	D	0.11%
PPG	F	0.11%
CSGP	D	0.11%
ANSS	B	0.11%
XYL	D	0.11%
PAYX	C	0.11%
RMD	C	0.1%
PPL	B	0.1%
MTD	D	0.1%
SBUX	A	0.1%
ADM	D	0.1%
VTR	C	0.1%
NVR	D	0.1%
KEYS	A	0.1%
TROW	B	0.1%
HAL	C	0.1%
AWK	D	0.1%
FTV	C	0.1%
KMB	D	0.1%
PHM	D	0.1%
CHD	B	0.1%
SW	A	0.1%
IFF	D	0.09%
WBD	C	0.09%
WY	D	0.09%
ZBH	C	0.09%
YUM	B	0.09%
CINF	A	0.09%
BIIB	F	0.09%
HUBB	B	0.09%
PGR	A	0.09%
EQT	B	0.09%
SBAC	D	0.09%
LNG	B	0.09%
FE	C	0.09%
DVN	F	0.09%
AEE	A	0.09%
CCL	B	0.09%
EFX	F	0.09%
COO	D	0.08%
LUV	C	0.08%
CNP	B	0.08%
LH	C	0.08%
PFG	D	0.08%
BBY	D	0.08%
IP	B	0.08%
FSLR	F	0.08%
WDC	D	0.08%
INVH	D	0.08%
STLD	B	0.08%
PKG	A	0.08%
K	A	0.08%
CBOE	B	0.08%
ZM	B	0.08%
HSY	F	0.08%
HOOD	B	0.08%
ILMN	D	0.08%
LYB	F	0.08%
EXE	B	0.08%
LDOS	C	0.08%
STE	F	0.08%
ES	D	0.08%
TDY	B	0.08%
ATO	A	0.08%
MKL	A	0.07%
OC	A	0.07%
CVNA	B	0.07%
GPC	D	0.07%
TRMB	B	0.07%
MAS	D	0.07%
IEX	B	0.07%
PNR	A	0.07%
J	F	0.07%
TRU	D	0.07%
CSL	C	0.07%
RS	B	0.07%
DGX	A	0.07%
HOLX	D	0.07%
WSO	A	0.07%
TSN	B	0.07%
ARE	D	0.07%
MAA	B	0.07%
SNA	A	0.07%
MKC	D	0.07%
OMC	C	0.07%
BALL	D	0.07%
CTRA	B	0.07%
IBKR	A	0.07%
MSCI	C	0.07%
BLDR	D	0.07%
ESS	B	0.07%
SYY	B	0.06%
EVRG	A	0.06%
EXPD	D	0.06%
EWBC	A	0.06%
VRSN	F	0.06%
HES	B	0.06%
APTV	D	0.06%
IRM	D	0.06%
NDSN	B	0.06%
ACM	A	0.06%
UDR	B	0.06%
DOC	D	0.06%
BRO	B	0.06%
THC	D	0.06%
AMCR	D	0.06%
USFD	A	0.06%
JBHT	C	0.06%
L	A	0.06%
GGG	B	0.06%
RGA	A	0.06%
VTRS	A	0.06%
SUI	D	0.06%
ZBRA	B	0.06%
TOL	B	0.06%
LNT	A	0.06%
SSNC	B	0.06%
FNF	B	0.06%
UTHR	C	0.06%
CF	B	0.06%
TXT	D	0.06%
MRO	B	0.06%
GEN	B	0.06%
BAX	D	0.06%
NI	A	0.06%
DG	F	0.06%
Z	A	0.05%
UHS	D	0.05%
SOFI	A	0.05%
CAH	B	0.05%
CDW	F	0.05%
FDS	B	0.05%
EMN	D	0.05%
MRNA	F	0.05%
JNPR	F	0.05%
BMRN	D	0.05%
SCI	B	0.05%
NVT	B	0.05%
HST	C	0.05%
NTNX	A	0.05%
WPC	D	0.05%
FTI	A	0.05%
ALLE	D	0.05%
CASY	A	0.05%
BXP	D	0.05%
EPAM	C	0.05%
CPT	B	0.05%
COHR	B	0.05%
ITT	A	0.05%
CLH	B	0.05%
JKHY	D	0.05%
CAG	D	0.05%
BG	F	0.05%
GLPI	C	0.05%
CHRW	C	0.05%
UNM	A	0.05%
DLTR	F	0.05%
JBL	B	0.05%
ELS	C	0.05%
TPR	B	0.05%
AFRM	B	0.05%
SWK	D	0.05%
AKAM	D	0.05%
TWLO	A	0.05%
RPM	A	0.05%
NTAP	C	0.05%
EG	C	0.05%
SWKS	F	0.05%
RVTY	F	0.05%
CW	B	0.05%
FFIV	B	0.05%
VLTO	D	0.05%
EME	C	0.05%
ZTS	D	0.05%
AVTR	F	0.05%
TW	A	0.04%
WST	C	0.04%
GMED	A	0.04%
TFX	F	0.04%
REXR	F	0.04%
CMA	A	0.04%
BWXT	B	0.04%
FBIN	D	0.04%
INGR	B	0.04%
DCI	B	0.04%
RGLD	C	0.04%
ORI	A	0.04%
JEF	A	0.04%
SOLV	C	0.04%
DRI	B	0.04%
EL	F	0.04%
BRBR	A	0.04%
CNH	C	0.04%
CRL	C	0.04%
COIN	C	0.04%
MKTX	D	0.04%
CIEN	B	0.04%
DOX	D	0.04%
DPZ	C	0.04%
DTM	B	0.04%
WTRG	B	0.04%
ARMK	B	0.04%
EHC	B	0.04%
AES	F	0.04%
AVY	D	0.04%
OHI	C	0.04%
AFG	A	0.04%
GME	C	0.04%
LAD	A	0.04%
RPRX	D	0.04%
DKS	C	0.04%
DAY	B	0.04%
LKQ	D	0.04%
ALSN	B	0.04%
AYI	B	0.04%
BLD	D	0.04%
WWD	B	0.04%
IPG	D	0.04%
CACI	D	0.04%
PRI	A	0.04%
BKNG	A	0.04%
TECH	D	0.04%
PNW	B	0.04%
FOXA	B	0.04%
CCK	C	0.04%
EVR	B	0.04%
CTLT	B	0.04%
CUBE	D	0.04%
FWONK	B	0.04%
NWSA	B	0.04%
FTNT	C	0.04%
PFGC	B	0.04%
TAP	C	0.04%
SJM	D	0.04%
ATR	B	0.04%
QCOM	F	0.04%
AA	B	0.04%
RRX	B	0.04%
NRG	B	0.04%
AMAT	F	0.04%
INCY	C	0.04%
KMX	B	0.04%
AIZ	A	0.04%
BJ	A	0.04%
OVV	B	0.04%
COLB	A	0.03%
MTG	C	0.03%
CGNX	C	0.03%
FAF	A	0.03%
IVZ	B	0.03%
LSTR	D	0.03%
BILL	A	0.03%
OKTA	C	0.03%
STAG	F	0.03%
AZPN	A	0.03%
WEX	D	0.03%
HR	C	0.03%
DINO	D	0.03%
GWW	B	0.03%
VMI	B	0.03%
MKSI	C	0.03%
FMC	D	0.03%
ALK	C	0.03%
WSM	B	0.03%
WH	B	0.03%
HRB	D	0.03%
DAR	C	0.03%
FCN	D	0.03%
FND	C	0.03%
MTSI	B	0.03%
GXO	B	0.03%
RLI	B	0.03%
SSD	D	0.03%
FR	C	0.03%
ATI	D	0.03%
ALGN	D	0.03%
GNTX	C	0.03%
ELAN	D	0.03%
R	B	0.03%
ESAB	B	0.03%
VFC	C	0.03%
OSK	B	0.03%
BBWI	D	0.03%
KBR	F	0.03%
CART	C	0.03%
MIDD	C	0.03%
SKX	D	0.03%
COKE	C	0.03%
MHK	D	0.03%
FAST	B	0.03%
LBRDK	C	0.03%
LW	C	0.03%
PB	A	0.03%
ROKU	D	0.03%
CHE	D	0.03%
DASH	A	0.03%
MNST	C	0.03%
RHI	B	0.03%
JAZZ	B	0.03%
KEX	C	0.03%
HII	D	0.03%
PR	B	0.03%
NNN	D	0.03%
BERY	B	0.03%
FLS	B	0.03%
BWA	D	0.03%
G	B	0.03%
SHW	A	0.03%
MTCH	D	0.03%
RRC	B	0.03%
CHRD	D	0.03%
ACI	C	0.03%
CZR	F	0.03%
X	C	0.03%
ECL	D	0.03%
TKO	B	0.03%
SEIC	B	0.03%
APG	B	0.03%
APA	D	0.03%
LECO	B	0.03%
LAMR	D	0.03%
WAT	B	0.03%
RIVN	F	0.03%
CPB	D	0.03%
FICO	B	0.03%
EGP	F	0.03%
RL	B	0.03%
GPK	C	0.03%
NYT	C	0.03%
MTZ	B	0.03%
CR	A	0.03%
JLL	D	0.03%
MOS	F	0.03%
CBSH	A	0.03%
TTC	D	0.03%
OGE	B	0.03%
HRL	D	0.03%
FYBR	D	0.03%
WTFC	A	0.03%
WYNN	D	0.03%
GWRE	A	0.03%
ALLY	C	0.03%
ZION	B	0.03%
BRX	A	0.03%
TTEK	F	0.03%
AAL	B	0.03%
MGM	D	0.03%
AOS	F	0.03%
SNX	C	0.03%
HSIC	B	0.03%
KNX	B	0.03%
ADP	B	0.03%
AR	B	0.03%
HLI	B	0.03%
AXTA	A	0.03%
RBC	A	0.03%
PTC	A	0.03%
OGN	D	0.02%
LINE	F	0.02%
SITE	D	0.02%
HOG	D	0.02%
FLO	D	0.02%
GTES	A	0.02%
PAYC	B	0.02%
GFS	C	0.02%
DLB	B	0.02%
M	D	0.02%
AN	C	0.02%
WLK	D	0.02%
GAP	C	0.02%
AWI	A	0.02%
RYN	D	0.02%
SLGN	A	0.02%
PSN	D	0.02%
WSC	D	0.02%
EEFT	B	0.02%
DBX	B	0.02%
KRC	C	0.02%
CUZ	B	0.02%
AZO	C	0.02%
AGO	B	0.02%
ST	F	0.02%
FRPT	B	0.02%
AVT	C	0.02%
CROX	D	0.02%
ROIV	C	0.02%
OLN	D	0.02%
TKR	D	0.02%
WTM	A	0.02%
HXL	D	0.02%
AMP	A	0.02%
BYD	C	0.02%
SON	D	0.02%
AL	B	0.02%
UGI	A	0.02%
BFAM	D	0.02%
OZK	B	0.02%
POST	C	0.02%
SLM	A	0.02%
SN	D	0.02%
CCCS	B	0.02%
LEA	D	0.02%
CRUS	D	0.02%
LITE	B	0.02%
EXAS	D	0.02%
GNRC	B	0.02%
ORLY	B	0.02%
THO	B	0.02%
NFG	A	0.02%
OLLI	D	0.02%
DOCS	C	0.02%
PVH	C	0.02%
FOX	A	0.02%
H	B	0.02%
WMS	D	0.02%
JHG	A	0.02%
SAIA	B	0.02%
THG	A	0.02%
AGCO	D	0.02%
ONTO	D	0.02%
FNB	A	0.02%
VNT	B	0.02%
LFUS	F	0.02%
IDA	A	0.02%
WHR	B	0.02%
RGEN	D	0.02%
CE	F	0.02%
S	B	0.02%
STWD	C	0.02%
ARW	D	0.02%
WBA	F	0.02%
BEN	C	0.02%
BIO	D	0.02%
QRVO	F	0.02%
MTDR	B	0.02%
BPOP	B	0.02%
OMF	A	0.02%
SAIC	F	0.02%
COLD	D	0.02%
ESI	A	0.02%
NOV	C	0.02%
SIRI	C	0.02%
MOH	F	0.02%
KD	B	0.02%
MSA	D	0.02%
MAT	D	0.02%
PARA	C	0.02%
LLYVA	A	0.01%
DDS	B	0.01%
SNDR	B	0.01%
TRIP	F	0.01%
REYN	D	0.01%
TER	D	0.01%
FTRE	D	0.01%
LEG	F	0.01%
WEN	D	0.01%
EXEL	B	0.01%
GO	C	0.01%
UA	C	0.01%
QS	F	0.01%
CLVT	F	0.01%
BIRK	D	0.01%
ALAB	B	0.01%
LEN	D	0.01%
CNXC	F	0.01%
VSTS	C	0.01%
CRI	D	0.01%
PSTG	D	0.01%
PPC	C	0.01%
QDEL	F	0.01%
AZEK	A	0.01%
RKT	F	0.01%
LBTYK	A	0.01%
KSS	F	0.01%
LCID	F	0.01%
INFA	D	0.01%
ETSY	D	0.01%
UAA	C	0.01%
LBTYA	B	0.01%
LYFT	C	0.01%
BRKR	D	0.01%
IPGP	D	0.01%
GLOB	B	0.01%
SHC	F	0.01%
ADT	C	0.01%
LPX	B	0.01%
RCM	F	0.01%
AAP	C	0.01%
CWEN	C	0.01%
WU	D	0.01%
AZTA	D	0.01%
YETI	C	0.01%
JWN	C	0.01%
HAYW	B	0.01%
SAM	C	0.01%
BR	A	0.01%
ULTA	F	0.01%
PINC	B	0.01%
ALGM	D	0.01%
SPB	C	0.01%
MP	B	0.01%
CPRI	F	0.01%
HHH	B	0.01%
EXP	A	0.01%
ENOV	C	0.01%
AGR	B	0.01%
MPW	F	0.01%
BOKF	B	0.01%
CC	C	0.01%
CXT	B	0.01%
COTY	F	0.01%
SEE	C	0.01%
COLM	B	0.01%
CNM	D	0.01%
AMKR	D	0.01%
VIRT	B	0.01%
ECG	C	0.01%
U	C	0.01%
AMED	F	0.01%
MAN	D	0.01%
SNRE	D	0.01%
PAG	B	0.01%
LLYVK	A	0.01%
PK	B	0.01%
NXST	C	0.01%
IRDM	D	0.01%
BROS	B	0.01%
SPR	D	0.01%
PENN	C	0.01%
AMTM	D	0.01%
SMG	D	0.01%
LOPE	B	0.01%
VAC	B	0.01%
ZI	D	0.01%
HUN	F	0.01%
AM	A	0.01%
HIW	D	0.01%
MASI	A	0.01%
ZG	A	0.01%
ALNY	D	0.01%
CPRT	A	0.01%
PII	D	0.01%
ACHC	F	0.01%
FHB	A	0.01%
CLF	F	0.01%
UHAL	D	0.01%
IAC	D	0.01%
NVST	B	0.01%
NWS	B	0.01%
W	F	0.01%
PRGO	B	0.01%
VNOM	A	0.01%
TNL	A	0.01%
XRAY	F	0.01%
CIVI	D	0.01%
NWL	B	0.01%
DNB	B	0.01%
MDU	D	0.01%
MSGS	A	0.01%
NEU	C	0.01%
RH	B	0.01%
DXC	B	0.01%
PLNT	A	0.01%
CTAS	B	0.01%
OLED	D	0.01%
TYL	B	0.01%
MSM	C	0.01%
ASH	D	0.01%
LOAR	A	0.0%
UWMC	D	0.0%
SEG	B	0.0%
PARAA	B	0.0%
NFE	D	0.0%
UHAL	D	0.0%
IONS	F	0.0%
LAZ	B	0.0%
GRAL	C	0.0%
TXG	F	0.0%
CACC	D	0.0%
PLTK	B	0.0%
DJT	C	0.0%
CHH	A	0.0%
SEB	F	0.0%
UI	A	0.0%
TFSL	A	0.0%
PATH	C	0.0%
WOLF	F	0.0%
LSCC	D	0.0%
FIVE	F	0.0%
CWEN	C	0.0%
HCP	B	0.0%
CAR	C	0.0%
MTN	C	0.0%
CNA	B	0.0%
PYCR	C	0.0%
HAS	D	0.0%
FWONA	B	0.0%
AS	B	0.0%
CERT	F	0.0%
DV	C	0.0%
LBRDA	C	0.0%
NCNO	B	0.0%

IWD Underweight 152 Positions Relative to PFF

Symbol	Grade	Weight
ARES	A	-1.0%
TBB	C	-0.79%
SOJD	F	-0.55%
TBC	C	-0.51%
SREA	D	-0.46%
RZC	C	-0.46%
CMSD	C	-0.38%
JXN	C	-0.37%
CHSCO	C	-0.36%
PRS	B	-0.35%
BTSG	C	-0.35%
CHSCL	C	-0.33%
BANC	A	-0.32%
GTLS	B	-0.32%
QRTEP	F	-0.32%
CTDD	C	-0.31%
DUKB	C	-0.31%
CHSCM	D	-0.31%
UZE	B	-0.29%
USM	B	-0.29%
FITBI	C	-0.29%
BPYPM	C	-0.28%
CHSCN	D	-0.27%
SOJC	D	-0.27%
PFH	F	-0.25%
RZB	C	-0.25%
TDS	B	-0.23%
PBI	B	-0.23%
DTW	D	-0.23%
FG	B	-0.23%
CHSCP	F	-0.22%
EAI	C	-0.22%
AGNCN	B	-0.21%
RLJ	C	-0.2%
ESGRP	D	-0.2%
UNMA	C	-0.19%
ATHS	C	-0.19%
ACGLO	C	-0.19%
UMH	C	-0.18%
MGR	D	-0.18%
WTFCP	A	-0.18%
NGL	D	-0.18%
KREF	D	-0.17%
CMSC	C	-0.17%
TCBI	B	-0.16%
TVC	C	-0.15%
ELC	C	-0.15%
NRUC	D	-0.15%
NAVI	C	-0.15%
SR	A	-0.15%
GPJA	F	-0.15%
OZKAP	D	-0.15%
WAFD	B	-0.14%
FBRT	C	-0.14%
AIZN	D	-0.14%
EQH	B	-0.14%
HPP	F	-0.14%
EMP	D	-0.14%
DBRG	F	-0.13%
DDT	B	-0.13%
TVE	C	-0.12%
SLMBP	C	-0.12%
SLG	B	-0.12%
CMSA	C	-0.12%
FCNCO	D	-0.12%
SFB	D	-0.12%
SITC	D	-0.11%
LBRDP	C	-0.11%
AUB	B	-0.11%
HWC	B	-0.11%
AFGC	C	-0.11%
NYMTM	B	-0.11%
SIGI	C	-0.1%
WSBC	A	-0.1%
TRTX	B	-0.1%
SPLP	D	-0.1%
FULT	A	-0.1%
AFGE	D	-0.1%
VLY	B	-0.1%
DHC	F	-0.1%
CIM	D	-0.09%
GPMT	C	-0.09%
CADE	B	-0.09%
ZIONO	D	-0.09%
ARR	D	-0.09%
AGNCL	B	-0.09%
AFGD	C	-0.09%
CION	C	-0.09%
AHH	D	-0.09%
BNRE.A	C	-0.09%
BOH	B	-0.08%
QVCD	D	-0.08%
ATLC	B	-0.08%
TWO	D	-0.08%
GAIN	C	-0.08%
AFGB	C	-0.08%
LANDO	B	-0.08%
NYMTL	A	-0.08%
ARGD	C	-0.08%
CNO	A	-0.08%
WTFCM	B	-0.08%
MBIN	D	-0.08%
NYMTN	D	-0.08%
RILY	F	-0.07%
ACR	A	-0.07%
ENO	D	-0.07%
BPOPM	C	-0.07%
CLDT	B	-0.07%
IVR	F	-0.07%
FCRX	A	-0.07%
ABR	C	-0.07%
CTO	B	-0.07%
MHNC	D	-0.07%
FTAI	B	-0.07%
ONB	B	-0.07%
PMT	D	-0.07%
VLYPP	A	-0.07%
NEWT	B	-0.07%
MFA	D	-0.07%
HTLF	B	-0.07%
NMFC	D	-0.07%
MSBI	B	-0.07%
DRH	B	-0.07%
EQC	B	-0.07%
TRIN	A	-0.07%
SNCR	F	-0.07%
DX	B	-0.07%
RILYN	C	-0.06%
BFS	C	-0.06%
PEB	D	-0.06%
LXP	D	-0.06%
CNOB	B	-0.06%
PSEC	D	-0.06%
CODI	B	-0.06%
VLYPO	B	-0.06%
EFC	C	-0.06%
GNL	F	-0.06%
BW	D	-0.06%
SAR	A	-0.06%
DCOMP	C	-0.06%
FATBP	D	-0.05%
MHLA	C	-0.05%
CIO	D	-0.05%
INN	D	-0.05%
SHO	C	-0.05%
FOSL	C	-0.05%
ASB	B	-0.05%
RC	D	-0.05%
SLNHP	C	-0.04%
OPI	F	-0.04%
BHR	B	-0.03%
XELAP	F	-0.0%