IWD vs. SHUS ETF Comparison

Comparison of iShares Russell 1000 Value ETF (IWD) to Syntax Stratified U.S. Total Market Hedged ETF (SHUS)

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

$193.05

Average Daily Volume

1,564,450

Number of Holdings ^*

864

* may have additional holdings in another (foreign) market

SHUS

Syntax Stratified U.S. Total Market Hedged ETF

SHUS Description

The investment seeks to obtain capital growth that meets or exceeds the performance of the S&P Composite 1500® Index over a full market cycle by investing in ETFs or underlying securities that provide Stratified WeightTM U.S. total equity market exposure to companies in the 1500 while seeking risk-managed growth via a defined risk hedging process. The fund will also invest in index options for risk management purposes and to seek to generate additional returns. Syntax?s Stratified Weight? is designed to correct for business risk concentrations that regularly occur in cap-weighted indices and equal-weighted indices.

Grade (RS Rating)

Last Trade

$43.86

Average Daily Volume

2,702

Number of Holdings ^*

500

* may have additional holdings in another (foreign) market

Performance

Period	IWD	SHUS
30 Days	-0.18%	0.93%
60 Days	3.45%	4.36%
90 Days	6.45%	5.12%
12 Months	27.96%	18.39%

436 Overlapping Holdings

Symbol	Grade	Weight in IWD	Weight in SHUS	Overlap
A	D	0.15%	0.15%	0.15%
ABBV	F	0.77%	0.24%	0.24%
ABT	B	0.78%	0.06%	0.06%
ACGL	C	0.14%	0.14%	0.14%
ACN	C	0.86%	0.13%	0.13%
ADI	D	0.43%	0.22%	0.22%
ADM	D	0.1%	0.36%	0.1%
ADP	B	0.03%	0.21%	0.03%
AEE	A	0.09%	0.08%	0.08%
AEP	C	0.2%	0.24%	0.2%
AES	F	0.04%	0.31%	0.04%
AFL	C	0.23%	0.2%	0.2%
AIG	B	0.19%	0.19%	0.19%
AIZ	A	0.04%	0.2%	0.04%
AJG	A	0.23%	0.03%	0.03%
AKAM	F	0.05%	0.26%	0.05%
ALB	C	0.05%	0.05%	0.05%
ALGN	D	0.03%	0.1%	0.03%
ALL	A	0.17%	0.19%	0.17%
ALLE	D	0.05%	0.07%	0.05%
AMAT	F	0.05%	0.17%	0.05%
AMCR	C	0.06%	0.12%	0.06%
AMD	F	0.31%	0.14%	0.14%
AME	A	0.17%	0.12%	0.12%
AMGN	D	0.15%	0.23%	0.15%
AMP	A	0.02%	0.09%	0.02%
ANSS	B	0.11%	0.17%	0.11%
AON	A	0.29%	0.04%	0.04%
AOS	F	0.03%	0.21%	0.03%
APA	F	0.03%	0.07%	0.03%
APD	A	0.27%	0.05%	0.05%
APH	B	0.14%	0.18%	0.14%
APTV	F	0.06%	0.39%	0.06%
ARE	D	0.08%	0.1%	0.08%
ATO	A	0.08%	0.32%	0.08%
AVB	A	0.13%	0.1%	0.1%
AVY	D	0.04%	0.06%	0.04%
AWK	C	0.1%	0.32%	0.1%
AXP	A	0.39%	0.05%	0.05%
AZO	C	0.02%	0.15%	0.02%
BA	F	0.34%	0.16%	0.16%
BAC	A	1.18%	0.12%	0.12%
BALL	D	0.07%	0.12%	0.07%
BAX	F	0.07%	0.05%	0.05%
BBWI	C	0.03%	0.19%	0.03%
BBY	C	0.07%	0.17%	0.07%
BDX	F	0.26%	0.05%	0.05%
BEN	C	0.02%	0.08%	0.02%
BG	D	0.05%	0.36%	0.05%
BIIB	F	0.1%	0.24%	0.1%
BK	A	0.22%	0.11%	0.11%
BKNG	A	0.04%	0.13%	0.04%
BKR	A	0.16%	0.35%	0.16%
BLDR	D	0.07%	0.19%	0.07%
BLK	A	0.59%	0.09%	0.09%
BMY	B	0.42%	0.25%	0.25%
BR	A	0.01%	0.11%	0.01%
BRK.A	A	3.26%	0.49%	0.49%
BRO	B	0.06%	0.03%	0.03%
BSX	B	0.5%	0.06%	0.06%
BWA	A	0.03%	0.41%	0.03%
BXP	D	0.05%	0.11%	0.05%
C	A	0.51%	0.13%	0.13%
CAG	F	0.05%	0.21%	0.05%
CAH	B	0.05%	0.19%	0.05%
CARR	D	0.25%	0.08%	0.08%
CAT	B	0.63%	0.14%	0.14%
CB	C	0.44%	0.14%	0.14%
CBOE	D	0.08%	0.04%	0.04%
CBRE	B	0.16%	0.04%	0.04%
CCI	D	0.18%	0.06%	0.06%
CCL	A	0.09%	0.09%	0.09%
CDW	F	0.05%	0.12%	0.05%
CE	F	0.03%	0.07%	0.03%
CEG	D	0.24%	0.38%	0.24%
CF	A	0.06%	0.09%	0.06%
CFG	A	0.08%	0.05%	0.05%
CHD	A	0.1%	0.41%	0.1%
CHRW	A	0.05%	0.09%	0.05%
CHTR	B	0.14%	0.46%	0.14%
CI	D	0.31%	0.18%	0.18%
CINF	A	0.09%	0.14%	0.09%
CL	D	0.13%	0.4%	0.13%
CMCSA	B	0.65%	0.51%	0.51%
CME	A	0.31%	0.04%	0.04%
CMI	A	0.19%	0.08%	0.08%
CMS	C	0.08%	0.07%	0.07%
CNC	F	0.12%	0.25%	0.12%
CNP	A	0.07%	0.25%	0.07%
COF	A	0.27%	0.69%	0.27%
COP	C	0.5%	0.07%	0.07%
CPB	D	0.03%	0.2%	0.03%
CPRT	A	0.01%	0.22%	0.01%
CPT	D	0.05%	0.1%	0.05%
CRL	D	0.04%	0.14%	0.04%
CRM	A	0.18%	0.35%	0.18%
CSCO	B	0.91%	0.21%	0.21%
CSGP	F	0.12%	0.04%	0.04%
CSX	B	0.27%	0.08%	0.08%
CTAS	B	0.02%	0.17%	0.02%
CTLT	C	0.04%	0.24%	0.04%
CTRA	A	0.07%	0.17%	0.07%
CTSH	B	0.15%	0.13%	0.13%
CTVA	D	0.16%	0.08%	0.08%
CVS	F	0.27%	0.68%	0.27%
CVX	A	1.04%	0.75%	0.75%
CZR	F	0.03%	0.07%	0.03%
D	C	0.19%	0.24%	0.19%
DAL	A	0.15%	0.27%	0.15%
DAY	B	0.04%	0.22%	0.04%
DD	D	0.14%	0.05%	0.05%
DE	D	0.38%	0.13%	0.13%
DELL	C	0.12%	0.17%	0.12%
DFS	A	0.17%	0.68%	0.17%
DG	F	0.06%	0.17%	0.06%
DGX	A	0.07%	0.16%	0.07%
DHI	D	0.19%	0.23%	0.19%
DHR	D	0.61%	0.1%	0.1%
DIS	A	0.7%	0.2%	0.2%
DLR	A	0.23%	0.26%	0.23%
DLTR	F	0.05%	0.17%	0.05%
DOC	D	0.06%	0.11%	0.06%
DOV	A	0.11%	0.17%	0.11%
DOW	F	0.13%	0.07%	0.07%
DPZ	C	0.04%	0.52%	0.04%
DRI	B	0.04%	0.5%	0.04%
DTE	C	0.09%	0.24%	0.09%
DUK	C	0.34%	0.07%	0.07%
DVN	F	0.09%	0.16%	0.09%
EA	A	0.16%	0.48%	0.16%
EBAY	D	0.12%	0.22%	0.12%
ECL	D	0.03%	0.05%	0.03%
ED	D	0.13%	0.24%	0.13%
EFX	F	0.1%	0.04%	0.04%
EG	D	0.05%	0.14%	0.05%
EIX	C	0.12%	0.24%	0.12%
EL	F	0.04%	0.49%	0.04%
ELV	F	0.32%	0.24%	0.24%
EMN	C	0.05%	0.05%	0.05%
EMR	A	0.28%	0.03%	0.03%
EOG	A	0.3%	0.07%	0.07%
EPAM	B	0.05%	0.13%	0.05%
EQIX	B	0.32%	0.26%	0.26%
EQR	C	0.11%	0.1%	0.1%
EQT	A	0.09%	0.18%	0.09%
ES	C	0.08%	0.07%	0.07%
ESS	A	0.07%	0.1%	0.07%
ETN	A	0.56%	0.26%	0.26%
ETR	A	0.12%	0.25%	0.12%
EVRG	A	0.05%	0.08%	0.05%
EW	C	0.12%	0.06%	0.06%
EXC	C	0.15%	0.29%	0.15%
EXPD	D	0.05%	0.09%	0.05%
EXR	C	0.14%	0.11%	0.11%
F	C	0.17%	0.24%	0.17%
FANG	D	0.13%	0.07%	0.07%
FAST	B	0.03%	0.12%	0.03%
FCX	F	0.26%	0.29%	0.26%
FDS	A	0.05%	0.04%	0.04%
FDX	A	0.25%	0.07%	0.07%
FE	C	0.09%	0.24%	0.09%
FFIV	B	0.05%	0.2%	0.05%
FI	A	0.32%	0.06%	0.06%
FICO	A	0.03%	0.03%	0.03%
FIS	B	0.19%	0.05%	0.05%
FITB	A	0.12%	0.05%	0.05%
FMC	F	0.03%	0.08%	0.03%
FOX	A	0.02%	0.1%	0.02%
FOXA	A	0.04%	0.1%	0.04%
FRT	B	0.04%	0.06%	0.04%
FSLR	F	0.08%	0.2%	0.08%
FTNT	A	0.04%	0.17%	0.04%
FTV	D	0.1%	0.03%	0.03%
GD	D	0.33%	0.16%	0.16%
GE	D	0.61%	0.17%	0.17%
GEHC	D	0.13%	0.1%	0.1%
GEN	B	0.06%	0.17%	0.06%
GEV	A	0.36%	0.18%	0.18%
GILD	B	0.46%	0.24%	0.24%
GIS	D	0.14%	0.21%	0.14%
GL	B	0.04%	0.19%	0.04%
GLW	B	0.14%	0.19%	0.14%
GM	A	0.24%	0.24%	0.24%
GNRC	B	0.02%	0.08%	0.02%
GPC	D	0.07%	0.15%	0.07%
GPN	B	0.11%	0.04%	0.04%
GRMN	B	0.13%	0.32%	0.13%
GS	A	0.52%	0.25%	0.25%
GWW	A	0.03%	0.13%	0.03%
HAL	C	0.1%	0.33%	0.1%
HAS	D	0.0%	0.25%	0.0%
HBAN	A	0.1%	0.05%	0.05%
HCA	D	0.19%	0.33%	0.19%
HD	A	0.31%	0.25%	0.25%
HES	B	0.05%	0.07%	0.05%
HIG	C	0.13%	0.14%	0.13%
HII	F	0.03%	0.08%	0.03%
HLT	A	0.11%	0.12%	0.11%
HOLX	D	0.07%	0.1%	0.07%
HON	A	0.46%	0.16%	0.16%
HPE	B	0.11%	0.19%	0.11%
HPQ	B	0.1%	0.34%	0.1%
HRL	D	0.03%	0.36%	0.03%
HSIC	D	0.03%	0.2%	0.03%
HST	D	0.05%	0.11%	0.05%
HSY	F	0.08%	0.17%	0.08%
HUBB	B	0.1%	0.26%	0.1%
HUM	F	0.13%	0.26%	0.13%
HWM	A	0.17%	0.07%	0.07%
IBM	D	0.75%	0.33%	0.33%
ICE	D	0.34%	0.04%	0.04%
IEX	B	0.07%	0.2%	0.07%
IFF	D	0.09%	0.05%	0.05%
INCY	B	0.05%	0.25%	0.05%
INTC	C	0.43%	0.16%	0.16%
INVH	D	0.08%	0.1%	0.08%
IP	A	0.08%	0.06%	0.06%
IPG	F	0.04%	0.33%	0.04%
IQV	F	0.13%	0.13%	0.13%
IR	A	0.16%	0.2%	0.16%
IRM	D	0.06%	0.06%	0.06%
ITW	B	0.19%	0.17%	0.17%
IVZ	B	0.03%	0.09%	0.03%
J	D	0.07%	0.39%	0.07%
JBHT	B	0.06%	0.08%	0.06%
JBL	C	0.05%	0.37%	0.05%
JCI	A	0.22%	0.08%	0.08%
JKHY	D	0.05%	0.05%	0.05%
JNJ	D	1.44%	0.23%	0.23%
JNPR	D	0.05%	0.19%	0.05%
JPM	A	2.61%	0.12%	0.12%
K	B	0.08%	0.18%	0.08%
KDP	D	0.14%	0.24%	0.14%
KEY	A	0.07%	0.06%	0.06%
KEYS	C	0.11%	0.2%	0.11%
KHC	F	0.11%	0.21%	0.11%
KIM	A	0.06%	0.06%	0.06%
KKR	A	0.28%	0.09%	0.09%
KMB	C	0.1%	0.41%	0.1%
KMI	A	0.2%	0.25%	0.2%
KMX	B	0.04%	0.14%	0.04%
KO	D	0.41%	0.24%	0.24%
KR	B	0.15%	0.73%	0.15%
KVUE	A	0.17%	0.41%	0.17%
L	A	0.06%	0.49%	0.06%
LDOS	C	0.1%	0.13%	0.1%
LEN	D	0.16%	0.24%	0.16%
LEN	D	0.01%	0.24%	0.01%
LH	B	0.08%	0.16%	0.08%
LHX	B	0.19%	0.08%	0.08%
LIN	D	0.85%	0.04%	0.04%
LKQ	D	0.04%	0.14%	0.04%
LMT	D	0.32%	0.08%	0.08%
LNT	A	0.06%	0.08%	0.06%
LOW	A	0.6%	0.25%	0.25%
LUV	A	0.07%	0.25%	0.07%
LW	C	0.03%	0.22%	0.03%
LYB	F	0.09%	0.07%	0.07%
MAA	A	0.07%	0.1%	0.07%
MAR	A	0.25%	0.12%	0.12%
MAS	D	0.07%	0.19%	0.07%
MCD	D	0.78%	0.49%	0.49%
MCHP	F	0.15%	0.13%	0.13%
MCK	A	0.17%	0.18%	0.17%
MDLZ	F	0.34%	0.18%	0.18%
MDT	D	0.43%	0.06%	0.06%
MET	A	0.18%	0.21%	0.18%
MGM	D	0.03%	0.07%	0.03%
MHK	D	0.03%	0.18%	0.03%
MKC	D	0.07%	0.21%	0.07%
MKTX	C	0.04%	0.04%	0.04%
MLM	B	0.14%	0.17%	0.14%
MMC	C	0.37%	0.03%	0.03%
MMM	D	0.23%	0.17%	0.17%
MNST	D	0.03%	0.25%	0.03%
MO	A	0.36%	0.35%	0.35%
MOH	F	0.03%	0.25%	0.03%
MOS	D	0.03%	0.08%	0.03%
MPC	D	0.21%	0.48%	0.21%
MRNA	F	0.06%	0.23%	0.06%
MRO	A	0.06%	0.07%	0.06%
MS	A	0.54%	0.26%	0.26%
MSCI	A	0.07%	0.04%	0.04%
MSI	A	0.17%	0.49%	0.17%
MTB	A	0.13%	0.06%	0.06%
MTCH	F	0.03%	0.46%	0.03%
MTD	F	0.11%	0.14%	0.11%
MU	D	0.47%	0.15%	0.15%
NDAQ	A	0.12%	0.04%	0.04%
NDSN	B	0.06%	0.03%	0.03%
NEE	C	0.61%	0.24%	0.24%
NEM	F	0.2%	0.24%	0.2%
NI	A	0.06%	0.32%	0.06%
NKE	D	0.13%	0.33%	0.13%
NOC	D	0.28%	0.08%	0.08%
NRG	B	0.05%	0.32%	0.05%
NSC	B	0.24%	0.08%	0.08%
NTAP	D	0.05%	0.17%	0.05%
NTRS	A	0.08%	0.08%	0.08%
NUE	D	0.15%	0.25%	0.15%
NVR	D	0.1%	0.3%	0.1%
NWS	A	0.01%	0.1%	0.01%
NWSA	B	0.04%	0.1%	0.04%
O	D	0.19%	0.06%	0.06%
OKE	A	0.24%	0.24%	0.24%
OMC	C	0.08%	0.33%	0.08%
ON	F	0.12%	0.22%	0.12%
ORLY	A	0.02%	0.14%	0.02%
OTIS	D	0.16%	0.08%	0.08%
OXY	F	0.13%	0.07%	0.07%
PARA	C	0.03%	0.2%	0.03%
PAYC	B	0.02%	0.21%	0.02%
PAYX	B	0.12%	0.21%	0.12%
PCAR	B	0.23%	0.12%	0.12%
PCG	A	0.17%	0.07%	0.07%
PEG	C	0.16%	0.25%	0.16%
PEP	F	0.18%	0.17%	0.17%
PFE	F	0.58%	0.24%	0.24%
PFG	C	0.08%	0.2%	0.08%
PG	C	1.18%	0.41%	0.41%
PGR	B	0.09%	0.19%	0.09%
PH	A	0.34%	0.08%	0.08%
PHM	D	0.11%	0.25%	0.11%
PKG	B	0.08%	0.06%	0.06%
PLD	D	0.41%	0.06%	0.06%
PM	A	0.75%	0.35%	0.35%
PNC	A	0.31%	0.06%	0.06%
PNR	A	0.07%	0.19%	0.07%
PNW	A	0.04%	0.07%	0.04%
PPG	F	0.11%	0.07%	0.07%
PPL	A	0.09%	0.08%	0.08%
PRU	A	0.17%	0.2%	0.17%
PSA	C	0.18%	0.1%	0.1%
PSX	C	0.2%	0.5%	0.2%
PTC	B	0.03%	0.17%	0.03%
PWR	A	0.13%	0.4%	0.13%
PYPL	A	0.33%	0.06%	0.06%
QCOM	F	0.05%	0.22%	0.05%
QRVO	F	0.03%	0.21%	0.03%
RCL	A	0.13%	0.08%	0.08%
REG	A	0.05%	0.06%	0.05%
REGN	F	0.31%	0.23%	0.23%
RF	A	0.09%	0.06%	0.06%
RJF	A	0.12%	0.25%	0.12%
RL	B	0.03%	0.32%	0.03%
RMD	C	0.1%	0.09%	0.09%
ROK	A	0.11%	0.03%	0.03%
ROP	C	0.23%	0.03%	0.03%
ROST	D	0.14%	0.71%	0.14%
RSG	B	0.17%	0.18%	0.17%
RTX	D	0.63%	0.08%	0.08%
RVTY	D	0.06%	0.1%	0.06%
SBAC	D	0.09%	0.06%	0.06%
SBUX	A	0.1%	0.48%	0.1%
SCHW	A	0.38%	0.25%	0.25%
SHW	B	0.03%	0.06%	0.03%
SJM	F	0.05%	0.21%	0.05%
SLB	C	0.24%	0.34%	0.24%
SNA	A	0.07%	0.25%	0.07%
SO	C	0.37%	0.08%	0.08%
SOLV	C	0.04%	0.05%	0.04%
SPG	A	0.17%	0.06%	0.06%
SPGI	C	0.61%	0.04%	0.04%
SRE	A	0.22%	0.07%	0.07%
STE	D	0.08%	0.12%	0.08%
STLD	B	0.08%	0.27%	0.08%
STT	A	0.11%	0.11%	0.11%
STZ	D	0.14%	0.25%	0.14%
SW	A	0.1%	0.07%	0.07%
SWK	F	0.05%	0.26%	0.05%
SWKS	F	0.06%	0.21%	0.06%
SYF	A	0.1%	0.68%	0.1%
SYK	A	0.37%	0.12%	0.12%
SYY	D	0.06%	0.73%	0.06%
T	A	0.62%	0.33%	0.33%
TAP	A	0.04%	0.25%	0.04%
TDG	D	0.23%	0.06%	0.06%
TDY	B	0.09%	0.03%	0.03%
TECH	D	0.05%	0.15%	0.05%
TER	F	0.01%	0.16%	0.01%
TFC	A	0.23%	0.05%	0.05%
TFX	F	0.04%	0.05%	0.04%
TGT	D	0.27%	0.17%	0.17%
TJX	A	0.21%	0.71%	0.21%
TMO	D	0.81%	0.14%	0.14%
TMUS	A	0.44%	0.33%	0.33%
TPR	A	0.05%	0.32%	0.05%
TRMB	A	0.07%	0.03%	0.03%
TROW	A	0.1%	0.08%	0.08%
TRV	A	0.23%	0.14%	0.14%
TSN	A	0.06%	0.35%	0.06%
TT	A	0.24%	0.08%	0.08%
TTWO	A	0.12%	0.48%	0.12%
TXN	C	0.68%	0.22%	0.22%
TXT	D	0.06%	0.16%	0.06%
TYL	B	0.02%	0.21%	0.02%
UAL	A	0.11%	0.28%	0.11%
UDR	C	0.06%	0.1%	0.06%
UHS	D	0.05%	0.32%	0.05%
ULTA	D	0.01%	0.17%	0.01%
UNH	B	2.03%	0.25%	0.25%
UNP	D	0.3%	0.08%	0.08%
UPS	C	0.37%	0.08%	0.08%
URI	B	0.17%	0.14%	0.14%
USB	B	0.3%	0.05%	0.05%
VICI	C	0.13%	0.06%	0.06%
VLO	C	0.17%	0.49%	0.17%
VLTO	D	0.06%	0.03%	0.03%
VMC	B	0.11%	0.17%	0.11%
VRSN	D	0.06%	0.27%	0.06%
VRTX	C	0.26%	0.23%	0.23%
VTR	C	0.1%	0.11%	0.1%
VTRS	A	0.06%	0.24%	0.06%
VZ	C	0.66%	0.32%	0.32%
WAB	B	0.14%	0.13%	0.13%
WAT	B	0.03%	0.15%	0.03%
WBA	F	0.03%	0.63%	0.03%
WBD	B	0.09%	0.19%	0.09%
WDC	F	0.09%	0.17%	0.09%
WEC	A	0.12%	0.07%	0.07%
WELL	A	0.32%	0.11%	0.11%
WFC	A	0.94%	0.13%	0.13%
WMB	A	0.26%	0.24%	0.24%
WMT	A	1.42%	0.72%	0.72%
WRB	A	0.07%	0.13%	0.07%
WST	C	0.04%	0.05%	0.04%
WTW	B	0.12%	0.04%	0.04%
WY	D	0.09%	0.17%	0.09%
WYNN	D	0.03%	0.08%	0.03%
XEL	A	0.14%	0.07%	0.07%
XOM	B	2.09%	0.75%	0.75%
XYL	D	0.12%	0.19%	0.12%
YUM	D	0.09%	0.5%	0.09%
ZBH	C	0.08%	0.12%	0.08%
ZBRA	B	0.06%	0.13%	0.06%
ZTS	D	0.05%	0.25%	0.05%

IWD Overweight 428 Positions Relative to SHUS

Symbol	Grade	Weight
MRVL	B	0.28%
CRH	B	0.27%
FERG	D	0.15%
MSTR	B	0.15%
FCNCA	A	0.1%
LNG	A	0.09%
ILMN	C	0.09%
SQ	A	0.09%
COO	D	0.08%
HOOD	A	0.08%
EXE	A	0.08%
APO	A	0.08%
ZM	B	0.08%
CVNA	A	0.07%
UTHR	B	0.07%
CSL	B	0.07%
IBKR	A	0.07%
WSO	A	0.07%
RS	B	0.07%
TRU	D	0.07%
EME	B	0.06%
COHR	B	0.06%
GGG	A	0.06%
RGA	A	0.06%
CW	B	0.06%
ACM	B	0.06%
AVTR	F	0.06%
USFD	B	0.06%
SUI	D	0.06%
THC	C	0.06%
FNF	C	0.06%
SSNC	D	0.06%
TOL	B	0.06%
MKL	A	0.06%
OC	A	0.06%
RRX	B	0.05%
Z	A	0.05%
BJ	B	0.05%
NTNX	A	0.05%
WPC	D	0.05%
FTI	A	0.05%
SCI	B	0.05%
UNM	A	0.05%
AMH	C	0.05%
CACI	C	0.05%
ITT	A	0.05%
TWLO	A	0.05%
CASY	B	0.05%
BMRN	F	0.05%
NVT	B	0.05%
GLPI	D	0.05%
ELS	B	0.05%
CLH	C	0.05%
RPM	A	0.05%
RNR	D	0.05%
EWBC	A	0.05%
ORI	A	0.04%
PNFP	A	0.04%
BRBR	A	0.04%
TW	B	0.04%
X	D	0.04%
CNH	D	0.04%
CMA	A	0.04%
GME	C	0.04%
REXR	F	0.04%
DCI	B	0.04%
KNX	B	0.04%
DTM	A	0.04%
SNX	D	0.04%
WAL	A	0.04%
FBIN	D	0.04%
TTEK	D	0.04%
INGR	B	0.04%
RGLD	C	0.04%
WBS	A	0.04%
NLY	C	0.04%
AFG	A	0.04%
LAD	A	0.04%
WTRG	C	0.04%
RPRX	F	0.04%
AYI	A	0.04%
OHI	C	0.04%
DKS	D	0.04%
EHC	B	0.04%
CIEN	B	0.04%
ARMK	C	0.04%
ALSN	B	0.04%
PRI	A	0.04%
DOX	D	0.04%
WWD	B	0.04%
BLD	F	0.04%
FWONK	B	0.04%
AFRM	A	0.04%
FHN	A	0.04%
CUBE	C	0.04%
CCK	D	0.04%
EVR	A	0.04%
SOFI	A	0.04%
AA	A	0.04%
OVV	C	0.04%
PFGC	B	0.04%
CG	B	0.04%
SF	A	0.04%
ATR	B	0.04%
COLD	F	0.03%
AXS	A	0.03%
AZPN	A	0.03%
DINO	D	0.03%
DOCS	C	0.03%
MAT	C	0.03%
FND	F	0.03%
HRB	D	0.03%
RGEN	D	0.03%
WH	A	0.03%
WSM	F	0.03%
HR	C	0.03%
STAG	D	0.03%
VMI	B	0.03%
OKTA	D	0.03%
LSTR	D	0.03%
RLI	A	0.03%
WEX	F	0.03%
GNTX	C	0.03%
CGNX	D	0.03%
R	A	0.03%
GXO	B	0.03%
ELAN	C	0.03%
FR	D	0.03%
BIO	C	0.03%
AGNC	C	0.03%
PB	A	0.03%
FCN	F	0.03%
ATI	D	0.03%
SSD	D	0.03%
OSK	C	0.03%
VFC	B	0.03%
MKSI	D	0.03%
ESAB	B	0.03%
COKE	C	0.03%
CHE	D	0.03%
MIDD	D	0.03%
SKX	D	0.03%
KEX	A	0.03%
ADC	A	0.03%
DASH	B	0.03%
JAZZ	A	0.03%
MTSI	B	0.03%
PR	C	0.03%
RHI	B	0.03%
SAIC	D	0.03%
BERY	D	0.03%
RRC	B	0.03%
NNN	D	0.03%
FLS	A	0.03%
ROKU	D	0.03%
VNO	B	0.03%
G	A	0.03%
ACI	C	0.03%
SEIC	A	0.03%
LBRDK	B	0.03%
SNV	A	0.03%
TKO	C	0.03%
CFR	A	0.03%
CART	C	0.03%
CHRD	F	0.03%
CBSH	A	0.03%
VOYA	A	0.03%
WTFC	A	0.03%
LAMR	D	0.03%
AAL	B	0.03%
ZION	A	0.03%
FYBR	C	0.03%
AR	B	0.03%
LECO	C	0.03%
APG	C	0.03%
COIN	A	0.03%
OGE	A	0.03%
EGP	D	0.03%
BRX	A	0.03%
CR	A	0.03%
GWRE	B	0.03%
RIVN	F	0.03%
JLL	C	0.03%
GPK	D	0.03%
KBR	D	0.03%
AXTA	A	0.03%
ALLY	C	0.03%
HLI	A	0.03%
TTC	D	0.03%
WCC	A	0.03%
JEF	A	0.03%
NYT	D	0.03%
BWXT	A	0.03%
GMED	A	0.03%
MTZ	B	0.03%
RBC	A	0.03%
VNOM	B	0.02%
ALNY	D	0.02%
DXC	C	0.02%
IAC	D	0.02%
HOG	D	0.02%
RH	C	0.02%
FLO	D	0.02%
ASH	F	0.02%
CLF	F	0.02%
MSM	C	0.02%
KMPR	A	0.02%
OGN	F	0.02%
OLED	F	0.02%
AMTM	D	0.02%
LINE	F	0.02%
TPG	B	0.02%
AN	D	0.02%
GTES	B	0.02%
SITE	D	0.02%
M	C	0.02%
GAP	C	0.02%
DLB	D	0.02%
AWI	A	0.02%
WLK	F	0.02%
GFS	C	0.02%
SLGN	B	0.02%
EEFT	C	0.02%
DBX	C	0.02%
AGO	A	0.02%
RYN	D	0.02%
WTM	A	0.02%
CUZ	B	0.02%
KRC	C	0.02%
AL	A	0.02%
OZK	A	0.02%
CROX	F	0.02%
ST	F	0.02%
FRPT	B	0.02%
TKR	F	0.02%
UGI	C	0.02%
BYD	A	0.02%
SON	D	0.02%
SLM	A	0.02%
ROIV	D	0.02%
AVT	C	0.02%
HXL	F	0.02%
WSC	F	0.02%
PSN	C	0.02%
OLN	F	0.02%
CCCS	A	0.02%
NFG	A	0.02%
LEA	F	0.02%
POST	D	0.02%
RITM	C	0.02%
SN	C	0.02%
THO	B	0.02%
CRUS	F	0.02%
LITE	A	0.02%
EXAS	F	0.02%
THG	A	0.02%
BFAM	F	0.02%
JHG	A	0.02%
AGCO	D	0.02%
FNB	A	0.02%
BC	D	0.02%
IDA	A	0.02%
PVH	C	0.02%
AMG	A	0.02%
H	B	0.02%
WHR	A	0.02%
LNC	A	0.02%
BILL	A	0.02%
WMS	F	0.02%
SAIA	B	0.02%
OLLI	D	0.02%
STWD	D	0.02%
BPOP	C	0.02%
MTDR	C	0.02%
VNT	C	0.02%
OMF	A	0.02%
LFUS	D	0.02%
KD	A	0.02%
MTG	C	0.02%
COLB	A	0.02%
SIRI	C	0.02%
ARW	D	0.02%
FAF	C	0.02%
S	B	0.02%
ESI	B	0.02%
ALK	A	0.02%
NOV	D	0.02%
MSA	D	0.02%
DAR	B	0.02%
ONTO	F	0.02%
CERT	F	0.01%
NCNO	B	0.01%
LBRDA	B	0.01%
SNDR	B	0.01%
REYN	D	0.01%
TRIP	D	0.01%
LEG	F	0.01%
UA	B	0.01%
INFA	F	0.01%
WEN	C	0.01%
GO	C	0.01%
EXEL	B	0.01%
CRI	D	0.01%
BIRK	F	0.01%
QS	F	0.01%
CLVT	F	0.01%
VSTS	F	0.01%
FTRE	D	0.01%
KSS	F	0.01%
UAA	B	0.01%
CNXC	F	0.01%
LYFT	B	0.01%
PPC	B	0.01%
AZEK	B	0.01%
ALAB	B	0.01%
PSTG	F	0.01%
ETSY	D	0.01%
LPX	A	0.01%
LCID	F	0.01%
SAM	B	0.01%
RCM	A	0.01%
JWN	A	0.01%
AAP	D	0.01%
WU	F	0.01%
ADT	B	0.01%
RKT	F	0.01%
CWEN	D	0.01%
HAYW	A	0.01%
YETI	F	0.01%
BRKR	F	0.01%
QDEL	F	0.01%
CPRI	F	0.01%
IPGP	D	0.01%
PINC	B	0.01%
GLOB	C	0.01%
SHC	D	0.01%
AZTA	F	0.01%
SPB	C	0.01%
ENOV	C	0.01%
AGR	A	0.01%
MP	B	0.01%
EXP	B	0.01%
BOKF	A	0.01%
HHH	B	0.01%
ALGM	F	0.01%
CC	C	0.01%
COTY	F	0.01%
CXT	D	0.01%
COLM	B	0.01%
VIRT	A	0.01%
SEE	B	0.01%
LLYVK	A	0.01%
CNM	F	0.01%
MPW	F	0.01%
PAG	A	0.01%
NSA	C	0.01%
PK	C	0.01%
MAN	F	0.01%
PENN	B	0.01%
SMG	D	0.01%
AMKR	F	0.01%
AMED	F	0.01%
BROS	A	0.01%
BHF	A	0.01%
NXST	D	0.01%
SPR	D	0.01%
ECG	D	0.01%
AM	A	0.01%
IRDM	C	0.01%
LBTYK	A	0.01%
HUN	F	0.01%
LBTYA	F	0.01%
VAC	B	0.01%
MASI	A	0.01%
ZG	A	0.01%
EPR	D	0.01%
U	F	0.01%
LOPE	B	0.01%
FHB	A	0.01%
NVST	C	0.01%
HIW	D	0.01%
PII	F	0.01%
PRGO	C	0.01%
XRAY	F	0.01%
MDU	D	0.01%
TNL	A	0.01%
W	F	0.01%
ACHC	F	0.01%
ZI	D	0.01%
DNB	B	0.01%
PLNT	A	0.01%
NEU	C	0.01%
UHAL	D	0.01%
CIVI	F	0.01%
NWL	B	0.01%
MSGS	B	0.01%
LOAR	B	0.0%
UWMC	F	0.0%
SEG	B	0.0%
PARAA	B	0.0%
NFE	F	0.0%
UHAL	D	0.0%
GRAL	C	0.0%
LAZ	B	0.0%
IONS	F	0.0%
TXG	F	0.0%
PLTK	A	0.0%
CACC	D	0.0%
CHH	A	0.0%
DJT	C	0.0%
UI	A	0.0%
SEB	F	0.0%
TFSL	A	0.0%
PATH	D	0.0%
FIVE	F	0.0%
CAR	C	0.0%
CWEN	D	0.0%
LSCC	D	0.0%
HCP	B	0.0%
CNA	C	0.0%
MTN	C	0.0%
FWONA	B	0.0%
PYCR	C	0.0%
AS	B	0.0%
DV	C	0.0%
LLYVA	A	0.0%
DDS	B	0.0%
WOLF	F	0.0%

IWD Underweight 65 Positions Relative to SHUS

Symbol	Grade	Weight
COST	B	-0.7%
AAPL	C	-0.49%
CMG	B	-0.49%
META	C	-0.46%
CLX	A	-0.41%
VST	A	-0.4%
ORCL	A	-0.34%
SNPS	C	-0.34%
CDNS	B	-0.33%
MSFT	D	-0.32%
LULU	C	-0.3%
DECK	A	-0.29%
TSLA	B	-0.27%
GDDY	A	-0.26%
ENPH	F	-0.25%
MRK	F	-0.24%
TRGP	A	-0.24%
NXPI	F	-0.23%
LLY	F	-0.23%
NOW	B	-0.22%
NFLX	A	-0.22%
AVGO	C	-0.22%
PLTR	A	-0.22%
GOOGL	B	-0.22%
GOOG	B	-0.22%
ANET	C	-0.21%
MPWR	F	-0.21%
AMZN	B	-0.21%
ERIE	F	-0.2%
INTU	A	-0.2%
TEL	C	-0.19%
CRWD	B	-0.18%
WM	B	-0.18%
ROL	A	-0.18%
COR	B	-0.18%
KLAC	F	-0.17%
STX	D	-0.17%
PANW	B	-0.16%
ADSK	B	-0.16%
SMCI	F	-0.15%
ADBE	F	-0.15%
IT	B	-0.13%
POOL	D	-0.13%
NVDA	B	-0.13%
ABNB	C	-0.12%
EXPE	A	-0.12%
ISRG	A	-0.12%
TSCO	D	-0.12%
DVA	C	-0.11%
UBER	C	-0.11%
PODD	A	-0.1%
AXON	A	-0.09%
NCLH	B	-0.09%
LYV	A	-0.09%
DXCM	C	-0.09%
IDXX	F	-0.09%
BX	A	-0.08%
ODFL	B	-0.08%
LVS	C	-0.08%
AMT	D	-0.06%
MA	A	-0.05%
MCO	C	-0.04%
VRSK	B	-0.04%
V	A	-0.04%
CPAY	A	-0.04%