IWD vs. SMDY ETF Comparison

Comparison of iShares Russell 1000 Value ETF (IWD) to Syntax Stratified MidCap ETF (SMDY)

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 1000® Index, which measures the performance of the large-capitalization sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$175.05

Average Daily Volume

1,720,552

Number of Holdings ^*

844

* may have additional holdings in another (foreign) market

SMDY

Syntax Stratified MidCap ETF

SMDY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies comprising the Syntax Stratified MidCap Index. Under normal market conditions, the fund generally invests substantially all, and at least 95%, of its total assets in the securities comprising the index. The index, which was created by Syntax LLC, an affiliate of the fund's investment adviser, is the stratified-weight version of the widely used S&P MidCap 400® Index and holds the same constituents as the S&P MidCap 400 Index.

Grade (RS Rating)

Last Trade

$42.67

Average Daily Volume

237

Number of Holdings ^*

390

* may have additional holdings in another (foreign) market

Performance

Period	IWD	SMDY
30 Days	-1.11%	0.50%
60 Days	1.01%	0.23%
90 Days	5.35%	6.14%
12 Months	18.05%	18.98%

253 Overlapping Holdings

	Symbol	Grade	Weight in IWD	Weight in SMDY	Overlap
	AA	A	0.03%	0.21%	0.03%
	ACHC	F	0.03%	0.5%	0.03%
	ACM	C	0.06%	0.16%	0.06%
	ADC	B	0.03%	0.07%	0.03%
	AFG	D	0.04%	0.17%	0.04%
	AGCO	D	0.03%	0.3%	0.03%
	AIRC	A	0.03%	0.24%	0.03%
	ALLY	B	0.05%	0.21%	0.05%
	AM	A	0.02%	0.24%	0.02%
	AMED	D	0.01%	0.24%	0.01%
	AMG	D	0.03%	0.3%	0.03%
	AMH	C	0.06%	0.2%	0.06%
	AN	B	0.02%	0.4%	0.02%
	AR	A	0.04%	0.1%	0.04%
	ARMK	C	0.04%	0.59%	0.04%
	ARW	B	0.03%	0.08%	0.03%
	ASH	A	0.02%	0.1%	0.02%
	ATR	A	0.05%	0.09%	0.05%
	AVT	A	0.02%	0.08%	0.02%
	AXTA	A	0.03%	0.11%	0.03%
	AYI	C	0.04%	0.22%	0.04%
	AZTA	D	0.01%	0.43%	0.01%
	BC	D	0.02%	0.21%	0.02%
	BERY	D	0.03%	0.06%	0.03%
	BHF	B	0.01%	0.36%	0.01%
	BJ	B	0.03%	0.24%	0.03%
	BLD	D	0.06%	0.16%	0.06%
	BRX	C	0.03%	0.07%	0.03%
	BWXT	D	0.03%	0.08%	0.03%
	BYD	F	0.02%	0.09%	0.02%
	CACC	D	0.02%	0.09%	0.02%
	CACI	A	0.04%	0.22%	0.04%
	CAR	D	0.01%	0.37%	0.01%
	CASY	A	0.05%	0.24%	0.05%
	CBSH	A	0.03%	0.14%	0.03%
	CC	C	0.02%	0.1%	0.02%
	CCK	C	0.04%	0.06%	0.04%
	CFR	D	0.03%	0.13%	0.03%
	CG	D	0.04%	0.26%	0.04%
	CGNX	B	0.04%	0.32%	0.04%
	CHE	D	0.01%	0.22%	0.01%
	CHK	B	0.05%	0.09%	0.05%
	CIEN	D	0.03%	1.06%	0.03%
	CLF	F	0.04%	0.14%	0.04%
	CLH	A	0.05%	0.25%	0.05%
	CNM	A	0.05%	0.09%	0.05%
	CNXC	D	0.01%	0.18%	0.01%
	COHR	D	0.03%	0.13%	0.03%
	COLB	C	0.02%	0.06%	0.02%
	COLM	B	0.01%	0.31%	0.01%
	COTY	F	0.02%	1.66%	0.02%
	CPRI	F	0.02%	0.23%	0.02%
	CRI	F	0.01%	0.25%	0.01%
	CRUS	C	0.02%	0.45%	0.02%
	CSL	B	0.09%	0.1%	0.09%
	CUBE	D	0.04%	0.18%	0.04%
	CUZ	B	0.02%	0.1%	0.02%
	CW	A	0.05%	0.1%	0.05%
	DAR	D	0.03%	0.3%	0.03%
	DBX	F	0.0%	0.4%	0.0%
	DCI	A	0.02%	0.1%	0.02%
	DINO	F	0.04%	0.22%	0.04%
	DKS	B	0.05%	0.34%	0.05%
	DLB	C	0.02%	0.58%	0.02%
	DOCS	F	0.01%	0.71%	0.01%
	DTM	A	0.03%	0.24%	0.03%
	EEFT	C	0.01%	0.29%	0.01%
	EGP	D	0.03%	0.07%	0.03%
	EHC	A	0.04%	0.27%	0.04%
	ELS	D	0.04%	0.19%	0.04%
	EME	A	0.05%	0.16%	0.05%
	ENOV	F	0.01%	0.34%	0.01%
	EPR	C	0.01%	0.07%	0.01%
	ESAB	B	0.03%	0.31%	0.03%
	EVR	C	0.03%	0.15%	0.03%
	EWBC	A	0.05%	0.06%	0.05%
	EXEL	D	0.01%	0.69%	0.01%
	EXP	A	0.01%	0.14%	0.01%
	FAF	D	0.03%	0.3%	0.03%
	FCN	B	0.03%	0.16%	0.03%
	FHN	B	0.04%	0.14%	0.04%
	FLO	B	0.02%	0.33%	0.02%
	FLS	A	0.03%	0.11%	0.03%
	FNB	B	0.02%	0.06%	0.02%
	FNF	B	0.06%	0.31%	0.06%
	FR	D	0.03%	0.07%	0.03%
	FYBR	B	0.03%	0.79%	0.03%
	G	D	0.02%	0.18%	0.02%
	GDDY	A	0.03%	0.89%	0.03%
	GGG	D	0.04%	0.09%	0.04%
	GLPI	D	0.05%	0.1%	0.05%
	GME	B	0.02%	0.26%	0.02%
	GMED	D	0.02%	0.37%	0.02%
	GNTX	D	0.04%	0.21%	0.04%
	GO	F	0.01%	0.24%	0.01%
	GPK	D	0.02%	0.06%	0.02%
	GPS	D	0.02%	0.3%	0.02%
	GXO	D	0.03%	0.15%	0.03%
	H	D	0.03%	0.1%	0.03%
	HLI	A	0.03%	0.16%	0.03%
	HOG	D	0.02%	0.21%	0.02%
	HRB	C	0.01%	0.3%	0.01%
	HTZ	F	0.0%	0.23%	0.0%
	HXL	C	0.03%	0.09%	0.03%
	IART	F	0.01%	0.11%	0.01%
	IBKR	A	0.06%	0.45%	0.06%
	IDA	B	0.02%	0.22%	0.02%
	INGR	A	0.04%	0.3%	0.04%
	IPGP	D	0.01%	0.29%	0.01%
	IRDM	D	0.0%	0.88%	0.0%
	ITT	B	0.05%	0.08%	0.05%
	JAZZ	D	0.02%	0.64%	0.02%
	JEF	B	0.04%	0.18%	0.04%
	JHG	A	0.02%	0.3%	0.02%
	JLL	C	0.04%	0.15%	0.04%
	JWN	B	0.01%	0.36%	0.01%
	KBR	A	0.03%	0.16%	0.03%
	KD	D	0.02%	0.19%	0.02%
	KEX	A	0.03%	0.29%	0.03%
	KMPR	B	0.02%	0.35%	0.02%
	KNX	D	0.04%	0.13%	0.04%
	KRC	D	0.02%	0.1%	0.02%
	LAD	D	0.03%	0.31%	0.03%
	LAMR	B	0.01%	0.07%	0.01%
	LEA	F	0.04%	0.09%	0.04%
	LECO	D	0.0%	0.26%	0.0%
	LEG	F	0.01%	0.1%	0.01%
	LFUS	B	0.03%	0.23%	0.03%
	LII	D	0.07%	0.16%	0.07%
	LITE	F	0.01%	1.13%	0.01%
	LOPE	B	0.01%	0.41%	0.01%
	LPX	D	0.02%	0.13%	0.02%
	LSTR	D	0.01%	0.14%	0.01%
	M	D	0.02%	0.27%	0.02%
	MAN	B	0.02%	0.15%	0.02%
	MAT	D	0.03%	0.14%	0.03%
	MDU	A	0.02%	0.15%	0.02%
	MIDD	D	0.04%	0.28%	0.04%
	MKSI	D	0.04%	0.45%	0.04%
	MP	C	0.01%	0.18%	0.01%
	MSA	C	0.03%	0.3%	0.03%
	MSM	F	0.02%	0.07%	0.02%
	MTG	C	0.03%	0.32%	0.03%
	MTN	F	0.03%	0.08%	0.03%
	MTZ	B	0.03%	0.15%	0.03%
	MUSA	D	0.0%	0.22%	0.0%
	NEU	D	0.02%	0.09%	0.02%
	NFG	A	0.02%	0.24%	0.02%
	NNN	A	0.04%	0.07%	0.04%
	NOV	C	0.03%	0.19%	0.03%
	NSA	D	0.01%	0.19%	0.01%
	NVST	F	0.02%	0.38%	0.02%
	NVT	A	0.06%	0.24%	0.06%
	NXST	C	0.02%	0.41%	0.02%
	NYCB	D	0.01%	0.06%	0.01%
	NYT	B	0.03%	0.42%	0.03%
	OC	A	0.07%	0.1%	0.07%
	OGE	A	0.03%	0.21%	0.03%
	OHI	B	0.04%	0.62%	0.04%
	OLED	C	0.02%	0.14%	0.02%
	OLLI	B	0.01%	0.23%	0.01%
	OLN	C	0.03%	0.1%	0.03%
	ORI	A	0.04%	0.18%	0.04%
	OSK	D	0.04%	0.3%	0.04%
	OVV	B	0.03%	0.09%	0.03%
	OZK	B	0.02%	0.07%	0.02%
	PAG	F	0.01%	0.36%	0.01%
	PB	B	0.03%	0.06%	0.03%
	PENN	F	0.01%	0.08%	0.01%
	PFGC	D	0.03%	0.22%	0.03%
	PII	F	0.02%	0.2%	0.02%
	PK	D	0.02%	0.09%	0.02%
	PLNT	D	0.01%	0.21%	0.01%
	PNFP	C	0.03%	0.06%	0.03%
	POST	B	0.03%	0.46%	0.03%
	PPC	A	0.01%	0.34%	0.01%
	PRGO	D	0.02%	0.76%	0.02%
	PRI	D	0.01%	0.3%	0.01%
	PSTG	C	0.02%	0.56%	0.02%
	PVH	D	0.03%	0.25%	0.03%
	R	A	0.03%	0.17%	0.03%
	RBC	C	0.03%	0.08%	0.03%
	RCM	F	0.01%	0.14%	0.01%
	REXR	D	0.04%	0.07%	0.04%
	RGA	A	0.06%	0.32%	0.06%
	RGEN	D	0.02%	0.46%	0.02%
	RGLD	B	0.04%	0.19%	0.04%
	RH	D	0.02%	0.14%	0.02%
	RLI	A	0.02%	0.17%	0.02%
	RNR	D	0.04%	0.29%	0.04%
	RPM	D	0.05%	0.09%	0.05%
	RRC	B	0.04%	0.09%	0.04%
	RRX	D	0.05%	0.08%	0.05%
	RS	D	0.08%	0.16%	0.08%
	RYN	F	0.02%	0.11%	0.02%
	SAIA	F	0.05%	0.1%	0.05%
	SAIC	C	0.03%	0.18%	0.03%
	SAM	F	0.0%	0.28%	0.0%
	SCI	D	0.03%	0.21%	0.03%
	SEIC	D	0.03%	0.29%	0.03%
	SF	A	0.04%	0.43%	0.04%
	SHC	F	0.0%	0.18%	0.0%
	SKX	B	0.04%	0.33%	0.04%
	SLGN	B	0.02%	0.06%	0.02%
	SLM	B	0.01%	0.21%	0.01%
	SNV	C	0.03%	0.06%	0.03%
	SNX	A	0.04%	0.09%	0.04%
	SON	C	0.03%	0.06%	0.03%
	SRCL	D	0.02%	0.19%	0.02%
	ST	B	0.03%	0.34%	0.03%
	STAG	D	0.03%	0.08%	0.03%
	STWD	D	0.03%	0.06%	0.03%
	SWN	B	0.04%	0.09%	0.04%
	THC	A	0.06%	0.73%	0.06%
	THG	A	0.02%	0.17%	0.02%
	THO	D	0.02%	0.21%	0.02%
	TKR	B	0.03%	0.09%	0.03%
	TNL	D	0.01%	0.1%	0.01%
	TOL	B	0.06%	0.4%	0.06%
	TPX	D	0.03%	0.14%	0.03%
	TTEK	A	0.04%	0.17%	0.04%
	UA	F	0.01%	0.12%	0.01%
	UAA	F	0.01%	0.12%	0.01%
	UGI	C	0.02%	0.22%	0.02%
	UNM	B	0.04%	0.36%	0.04%
	USFD	C	0.05%	0.24%	0.05%
	UTHR	A	0.06%	0.74%	0.06%
	VAC	C	0.02%	0.1%	0.02%
	VMI	B	0.02%	0.1%	0.02%
	VNO	F	0.02%	0.1%	0.02%
	VNT	D	0.02%	0.28%	0.02%
	VOYA	B	0.03%	0.31%	0.03%
	VST	B	0.1%	0.27%	0.1%
	VVV	C	0.02%	0.1%	0.02%
	WBS	D	0.04%	0.37%	0.04%
	WCC	B	0.03%	0.08%	0.03%
	WEX	D	0.02%	0.28%	0.02%
	WH	D	0.03%	0.1%	0.03%
	WHR	F	0.02%	0.13%	0.02%
	WLK	B	0.02%	0.1%	0.02%
	WOLF	F	0.01%	0.13%	0.01%
	WPC	C	0.06%	0.08%	0.06%
	WSM	B	0.08%	0.29%	0.08%
	WSO	B	0.05%	0.08%	0.05%
	WTFC	B	0.03%	0.14%	0.03%
	WTRG	B	0.05%	0.24%	0.05%
	WU	C	0.01%	0.28%	0.01%
	WWD	A	0.05%	0.1%	0.05%
	X	D	0.04%	0.14%	0.04%
	XPO	D	0.06%	0.13%	0.06%
	XRAY	F	0.03%	0.08%	0.03%
	ZI	D	0.01%	0.4%	0.01%
	ZION	B	0.03%	0.07%	0.03%

IWD Overweight 591 Positions Relative to SMDY

	Symbol	Grade	Weight
	BRK.A	D	3.49%
	JPM	B	2.63%
	XOM	B	2.21%
	JNJ	F	1.72%
	PG	A	1.49%
	CVX	B	1.32%
	MRK	B	1.27%
	WMT	B	1.22%
	BAC	A	1.21%
	WFC	B	1.03%
	DIS	D	0.98%
	CSCO	F	0.9%
	LIN	D	0.88%
	GE	A	0.84%
	ABT	D	0.82%
	VZ	D	0.78%
	DHR	C	0.77%
	PFE	D	0.75%
	PM	B	0.72%
	CMCSA	F	0.72%
	IBM	D	0.71%
	COP	C	0.7%
	RTX	A	0.7%
	NEE	B	0.67%
	GS	A	0.65%
	INTC	F	0.61%
	ETN	A	0.6%
	SPGI	C	0.58%
	KO	A	0.58%
	MU	B	0.58%
	T	B	0.57%
	MCD	F	0.56%
	C	B	0.56%
	BLK	D	0.54%
	SCHW	A	0.53%
	HON	D	0.53%
	MS	A	0.52%
	MDT	D	0.51%
	ELV	A	0.51%
	ORCL	D	0.5%
	BSX	A	0.5%
	AMD	D	0.48%
	CB	C	0.48%
	ADI	A	0.47%
	MDLZ	B	0.46%
	PLD	D	0.46%
	TXN	A	0.45%
	CI	C	0.44%
	REGN	C	0.43%
	AXP	B	0.43%
	BA	F	0.42%
	BMY	F	0.42%
	SYK	D	0.41%
	TMO	D	0.4%
	GILD	F	0.39%
	SO	A	0.39%
	UNP	D	0.39%
	TMUS	C	0.38%
	UPS	F	0.37%
	EOG	B	0.37%
	MO	A	0.37%
	PEP	B	0.36%
	CL	A	0.36%
	DUK	A	0.36%
	UNH	C	0.35%
	CME	D	0.35%
	CVS	F	0.34%
	ICE	D	0.34%
	BDX	F	0.33%
	FCX	B	0.33%
	GD	A	0.33%
	MPC	D	0.32%
	SLB	F	0.32%
	PH	B	0.32%
	FI	C	0.31%
	PNC	B	0.3%
	CRM	D	0.3%
	PXD	B	0.3%
	PSX	D	0.3%
	NOC	B	0.3%
	USB	D	0.3%
	CEG	B	0.29%
	EMR	D	0.29%
	FDX	D	0.29%
	CSX	D	0.28%
	TDG	A	0.27%
	MRVL	D	0.27%
	COF	B	0.26%
	ROP	D	0.26%
	APD	C	0.26%
	PCAR	D	0.26%
	AIG	A	0.26%
	AON	D	0.26%
	GM	A	0.25%
	NSC	D	0.25%
	WELL	A	0.25%
	MMM	B	0.25%
	VLO	D	0.25%
	NKE	F	0.24%
	CARR	A	0.24%
	TFC	B	0.24%
	TT	A	0.24%
	NEM	B	0.23%
	AMGN	B	0.23%
	AJG	C	0.23%
	KKR	C	0.23%
	HCA	D	0.23%
	AFL	A	0.23%
	TRV	D	0.23%
	F	D	0.23%
	O	B	0.22%
	SRE	B	0.22%
	AEP	A	0.22%
	WMB	B	0.22%
	MCK	A	0.21%
	MET	C	0.21%
	DHI	D	0.21%
	OXY	B	0.21%
	ALL	B	0.21%
	FIS	B	0.2%
	FERG	B	0.2%
	JCI	B	0.2%
	GEV	B	0.2%
	MRNA	B	0.2%
	NUE	D	0.2%
	OKE	B	0.2%
	DLR	C	0.2%
	D	B	0.2%
	CAT	D	0.2%
	BK	A	0.2%
	COIN	D	0.19%
	CNC	C	0.19%
	LHX	A	0.19%
	GIS	B	0.19%
	CTVA	A	0.19%
	DOW	C	0.19%
	PRU	B	0.19%
	STZ	D	0.18%
	CCI	D	0.18%
	AME	D	0.18%
	IR	D	0.18%
	LEN	C	0.18%
	EXC	B	0.18%
	CMI	B	0.18%
	RSG	B	0.18%
	EA	D	0.17%
	PEG	A	0.17%
	APH	A	0.17%
	FANG	B	0.17%
	LOW	D	0.17%
	OTIS	D	0.17%
	PCG	B	0.17%
	URI	D	0.17%
	SPG	C	0.17%
	KR	B	0.17%
	KMI	A	0.17%
	MLM	D	0.17%
	ED	A	0.16%
	CTSH	D	0.16%
	DD	A	0.16%
	PGR	A	0.15%
	BIIB	C	0.15%
	DFS	C	0.15%
	DAL	A	0.15%
	ADM	C	0.15%
	BKR	C	0.15%
	KDP	A	0.15%
	DVN	B	0.15%
	EQIX	F	0.15%
	XYL	A	0.14%
	GPN	F	0.14%
	HIG	C	0.14%
	WAB	A	0.14%
	EXR	C	0.14%
	HWM	A	0.14%
	ACGL	A	0.14%
	VRT	B	0.14%
	KHC	C	0.14%
	XEL	C	0.14%
	VICI	B	0.14%
	GEHC	D	0.14%
	ON	F	0.14%
	HAL	F	0.13%
	CBRE	D	0.13%
	HLT	D	0.13%
	FTV	D	0.13%
	PWR	A	0.13%
	EIX	A	0.13%
	AVB	A	0.13%
	VMC	C	0.13%
	MTB	A	0.12%
	SQ	D	0.12%
	PHM	B	0.12%
	EQR	A	0.12%
	TROW	D	0.12%
	AWK	B	0.12%
	DLTR	D	0.12%
	DOV	A	0.12%
	ZBH	D	0.12%
	FITB	A	0.12%
	GRMN	A	0.12%
	LYB	C	0.12%
	GLW	B	0.12%
	AMAT	C	0.12%
	QCOM	B	0.12%
	WEC	B	0.12%
	HUM	F	0.11%
	NDAQ	B	0.11%
	IFF	A	0.11%
	RCL	A	0.11%
	WDC	B	0.11%
	ETR	A	0.11%
	WY	F	0.11%
	BLDR	D	0.11%
	DTE	A	0.11%
	WTW	D	0.11%
	PPG	D	0.11%
	RJF	B	0.11%
	TTWO	D	0.11%
	EBAY	C	0.11%
	CTRA	B	0.1%
	STE	D	0.1%
	ARE	D	0.1%
	VLTO	A	0.1%
	PPL	A	0.1%
	CSGP	B	0.1%
	MKL	A	0.1%
	ICLR	D	0.1%
	BALL	B	0.1%
	APTV	D	0.1%
	INVH	B	0.1%
	ES	B	0.1%
	FE	A	0.1%
	EL	F	0.1%
	HPE	D	0.1%
	GPC	B	0.1%
	KVUE	D	0.1%
	STT	C	0.1%
	CINF	D	0.09%
	TDY	D	0.09%
	ENTG	D	0.09%
	ATO	A	0.09%
	MSCI	D	0.09%
	RF	B	0.09%
	J	D	0.09%
	OMC	B	0.09%
	SYF	B	0.09%
	VTR	B	0.09%
	CNP	B	0.09%
	BAX	F	0.09%
	SBAC	D	0.09%
	MKC	B	0.09%
	KEYS	D	0.09%
	PFG	C	0.09%
	FSLR	B	0.09%
	HPQ	D	0.09%
	LDOS	A	0.09%
	HES	B	0.09%
	HBAN	A	0.09%
	AEE	B	0.09%
	MMC	C	0.09%
	NVR	C	0.09%
	STLD	D	0.09%
	WRB	D	0.08%
	ESS	A	0.08%
	K	B	0.08%
	ZM	D	0.08%
	CFG	A	0.08%
	AVTR	D	0.08%
	FCNCA	B	0.08%
	TXT	D	0.08%
	NRG	B	0.08%
	UAL	B	0.08%
	NTRS	C	0.08%
	TSN	B	0.08%
	LH	F	0.08%
	PSA	D	0.08%
	COO	D	0.08%
	WBD	F	0.08%
	HOLX	C	0.08%
	CMS	A	0.08%
	FWONK	B	0.07%
	ILMN	F	0.07%
	EG	C	0.07%
	BMRN	F	0.07%
	VTRS	D	0.07%
	KEY	C	0.07%
	SNA	D	0.07%
	L	A	0.07%
	VRSN	F	0.07%
	ADP	C	0.07%
	CF	F	0.07%
	AMCR	A	0.07%
	EQT	B	0.07%
	EXPD	D	0.07%
	SWKS	F	0.07%
	CCL	F	0.07%
	TRU	C	0.07%
	ALB	D	0.07%
	BG	B	0.07%
	CAG	B	0.07%
	TRMB	D	0.07%
	AKAM	D	0.07%
	NDSN	C	0.07%
	DGX	B	0.07%
	MAA	B	0.07%
	MRO	D	0.07%
	IEX	D	0.07%
	CE	C	0.07%
	MAS	D	0.07%
	PKG	D	0.07%
	LUV	F	0.07%
	SJM	F	0.06%
	CRL	D	0.06%
	UDR	B	0.06%
	IPG	D	0.06%
	NI	A	0.06%
	AVY	A	0.06%
	EVRG	B	0.06%
	BRO	C	0.06%
	BBY	D	0.06%
	SHW	D	0.06%
	CAH	D	0.06%
	IP	C	0.06%
	KIM	C	0.06%
	ECL	A	0.06%
	RVTY	D	0.06%
	WBA	F	0.06%
	NTAP	B	0.06%
	HST	D	0.06%
	PNR	C	0.06%
	LNT	B	0.06%
	WRK	A	0.06%
	SWK	F	0.06%
	ZBRA	A	0.06%
	SSNC	C	0.06%
	ITW	D	0.06%
	DOC	A	0.06%
	MCHP	B	0.06%
	OKTA	D	0.06%
	QGEN	C	0.05%
	NLY	A	0.05%
	HII	D	0.05%
	DOX	D	0.05%
	FAST	D	0.05%
	FFIV	F	0.05%
	BBWI	C	0.05%
	UHS	D	0.05%
	TAP	F	0.05%
	KMX	D	0.05%
	CTLT	C	0.05%
	HRL	B	0.05%
	CPT	B	0.05%
	RPRX	D	0.05%
	LYV	D	0.05%
	APP	B	0.05%
	HUBB	D	0.05%
	REG	D	0.05%
	JBHT	D	0.05%
	JNPR	D	0.05%
	HOOD	C	0.05%
	FTI	A	0.05%
	SUI	F	0.05%
	MGM	F	0.05%
	IRM	D	0.05%
	EMN	B	0.05%
	CNHI	D	0.05%
	NTNX	C	0.05%
	LKQ	D	0.05%
	A	D	0.04%
	HSY	B	0.04%
	FOXA	B	0.04%
	DASH	D	0.04%
	GNRC	B	0.04%
	AFRM	C	0.04%
	DAY	F	0.04%
	ACI	D	0.04%
	TW	A	0.04%
	PARA	C	0.04%
	HAS	B	0.04%
	NU	C	0.04%
	JKHY	D	0.04%
	BWA	B	0.04%
	TPR	D	0.04%
	EFX	D	0.04%
	AZO	D	0.04%
	PNW	B	0.04%
	FRT	B	0.04%
	WM	A	0.04%
	TWLO	B	0.04%
	VRTX	C	0.04%
	CPB	B	0.04%
	MOH	D	0.04%
	SOLV	C	0.04%
	HSIC	D	0.04%
	FBIN	D	0.04%
	AOS	D	0.04%
	ORLY	D	0.04%
	NWSA	D	0.04%
	GEN	F	0.04%
	GWRE	C	0.04%
	WYNN	D	0.04%
	MOS	F	0.04%
	AIZ	D	0.04%
	QRVO	F	0.04%
	PTC	D	0.04%
	TFX	F	0.04%
	BXP	F	0.04%
	DRI	F	0.04%
	ESI	D	0.03%
	AL	C	0.03%
	IVZ	D	0.03%
	ALK	C	0.03%
	JBL	F	0.03%
	RITM	A	0.03%
	AZPN	F	0.03%
	HR	B	0.03%
	OMF	B	0.03%
	AAL	D	0.03%
	BIO	F	0.03%
	ALSN	D	0.03%
	MHK	D	0.03%
	Z	F	0.03%
	BPOP	A	0.03%
	LRCX	D	0.03%
	XP	D	0.03%
	CTAS	A	0.03%
	COLD	F	0.03%
	FMC	C	0.03%
	AGNC	C	0.03%
	RL	D	0.03%
	WAL	B	0.03%
	BILL	F	0.03%
	AZEK	D	0.03%
	ROKU	F	0.03%
	ELAN	D	0.03%
	DE	B	0.03%
	SOFI	F	0.03%
	RIVN	F	0.03%
	CR	A	0.03%
	PYPL	B	0.03%
	CMA	B	0.03%
	BEN	F	0.03%
	GL	F	0.03%
	OWL	C	0.03%
	EXAS	F	0.03%
	RHI	D	0.03%
	FTRE	D	0.02%
	W	C	0.02%
	CLVT	F	0.02%
	FRPT	C	0.02%
	SPR	D	0.02%
	MSGS	B	0.02%
	BEPC	B	0.02%
	CCCS	F	0.02%
	AWI	D	0.02%
	DXC	F	0.02%
	ALNY	D	0.02%
	BR	C	0.02%
	GFS	D	0.02%
	LSXMK	F	0.02%
	UHAL	B	0.02%
	FOX	B	0.02%
	IAC	C	0.02%
	HUN	C	0.02%
	LNC	C	0.02%
	AGO	D	0.02%
	CZR	F	0.02%
	U	F	0.02%
	LAZ	D	0.02%
	VFC	F	0.02%
	S	D	0.02%
	MSI	A	0.02%
	AAP	D	0.02%
	SITE	F	0.02%
	WTM	B	0.02%
	YUM	C	0.02%
	TYL	A	0.02%
	ANSS	D	0.02%
	LBRDK	F	0.02%
	EXPE	F	0.02%
	AES	B	0.02%
	OGN	B	0.02%
	AXS	A	0.02%
	NCLH	F	0.02%
	MCO	C	0.02%
	BFAM	C	0.02%
	WSC	F	0.02%
	SSRM	D	0.01%
	HE	F	0.01%
	SNDR	D	0.01%
	LVS	F	0.01%
	VSTS	F	0.01%
	DNA	F	0.01%
	CNA	B	0.01%
	INFA	D	0.01%
	PLUG	F	0.01%
	CERT	D	0.01%
	HEI	B	0.01%
	NATL	B	0.01%
	FWONA	B	0.01%
	KLG	A	0.01%
	CPAY	B	0.01%
	VYX	D	0.01%
	MRCY	C	0.01%
	REYN	D	0.01%
	ADT	B	0.01%
	LLYVK	D	0.01%
	PATH	F	0.01%
	CDW	D	0.01%
	LSXMA	F	0.01%
	HAYW	C	0.01%
	QS	F	0.01%
	LEN	C	0.01%
	VIRT	B	0.01%
	VSAT	D	0.01%
	SIRI	F	0.01%
	PHIN	A	0.01%
	NCNO	C	0.01%
	CWEN	B	0.01%
	CABO	F	0.01%
	ICUI	D	0.01%
	LCID	F	0.01%
	TNDM	B	0.01%
	CHRW	C	0.01%
	TDOC	F	0.01%
	ZG	F	0.01%
	TPG	C	0.01%
	SEE	C	0.01%
	QDEL	D	0.01%
	HHH	D	0.01%
	RUN	D	0.01%
	ODFL	F	0.01%
	SPB	C	0.01%
	BOKF	A	0.01%
	PINC	F	0.01%
	DNB	D	0.01%
	INCY	D	0.01%
	AGR	B	0.01%
	GTES	C	0.01%
	CHD	A	0.01%
	KSS	F	0.01%
	KMB	B	0.01%
	FHB	B	0.01%
	APA	F	0.01%
	HIW	B	0.01%
	ROST	D	0.01%
	MPW	D	0.01%
	TRIP	D	0.01%
	NWS	D	0.01%
	IQV	D	0.01%
	NWL	C	0.01%
	CXT	A	0.01%
	TER	B	0.01%
	RBA	D	0.01%
	ETSY	F	0.01%
	RNAC	C	0.0%
	AMBP	B	0.0%
	PLTK	C	0.0%
	UI	D	0.0%
	WOOF	F	0.0%
	AGL	F	0.0%
	OLPX	F	0.0%
	ROIV	B	0.0%
	CART	C	0.0%
	PARAA	B	0.0%
	NLOP	C	0.0%
	UHAL	B	0.0%
	MRVI	B	0.0%
	UWMC	B	0.0%
	MCW	C	0.0%
	PYCR	F	0.0%
	TFSL	B	0.0%
	TECH	C	0.0%
	LBRDA	F	0.0%
	LW	F	0.0%
	LLYVA	D	0.0%
	SEB	C	0.0%
	CAVA	B	0.0%
	DRVN	F	0.0%
	VSCO	F	0.0%
	AMC	F	0.0%
	BSY	A	0.0%
	BIRK	F	0.0%
	CWEN	B	0.0%
	IONS	F	0.0%
	MTCH	F	0.0%
	ALLE	D	0.0%
	HEI	B	0.0%
	RKT	B	0.0%
	HCP	B	0.0%

IWD Underweight 137 Positions Relative to SMDY

	Symbol	Grade	Weight
	SMG	C	-1.84%
	DUOL	A	-0.82%
	QLYS	D	-0.8%
	DT	D	-0.79%
	NBIX	B	-0.69%
	WEN	B	-0.66%
	WING	A	-0.66%
	HALO	C	-0.66%
	TXRH	B	-0.65%
	ZD	F	-0.65%
	SBRA	A	-0.62%
	LNW	C	-0.55%
	AMKR	C	-0.55%
	MTSI	B	-0.52%
	MEDP	C	-0.52%
	ONTO	A	-0.51%
	ARWR	F	-0.5%
	LIVN	B	-0.47%
	ALGM	C	-0.46%
	POWI	D	-0.45%
	COKE	B	-0.45%
	BRBR	C	-0.44%
	CVLT	A	-0.43%
	BLKB	B	-0.43%
	GHC	C	-0.42%
	ASB	A	-0.42%
	LSCC	F	-0.42%
	RMBS	F	-0.41%
	EQH	A	-0.4%
	TDC	F	-0.4%
	SLAB	D	-0.4%
	SYNA	F	-0.4%
	KBH	C	-0.39%
	TMHC	C	-0.39%
	TGNA	D	-0.39%
	CELH	D	-0.38%
	PCTY	D	-0.37%
	CNO	B	-0.35%
	MANH	D	-0.33%
	ESNT	C	-0.31%
	CROX	C	-0.31%
	NSP	B	-0.31%
	ERIE	C	-0.31%
	HQY	D	-0.3%
	TEX	C	-0.3%
	TTC	D	-0.3%
	MMS	C	-0.29%
	MORN	D	-0.29%
	ETRN	B	-0.28%
	LANC	D	-0.28%
	FHI	D	-0.28%
	SWAV	A	-0.27%
	SFM	A	-0.27%
	BURL	D	-0.26%
	ELF	D	-0.25%
	NJR	B	-0.24%
	OGS	B	-0.24%
	HAE	A	-0.24%
	BKH	B	-0.24%
	PBF	D	-0.24%
	BCO	B	-0.24%
	OPCH	D	-0.23%
	SR	B	-0.23%
	SWX	A	-0.23%
	PGNY	F	-0.22%
	ENS	B	-0.22%
	VC	D	-0.22%
	WFRD	B	-0.21%
	NWE	B	-0.21%
	FIVE	F	-0.21%
	POR	B	-0.21%
	ALE	B	-0.21%
	FLR	C	-0.2%
	TCBI	B	-0.2%
	IRT	B	-0.2%
	PNM	C	-0.2%
	EXLS	C	-0.19%
	CHX	D	-0.19%
	ORA	C	-0.19%
	VAL	C	-0.18%
	CMC	C	-0.18%
	LNTH	B	-0.17%
	EXPO	B	-0.17%
	SIGI	F	-0.16%
	TREX	D	-0.15%
	APPF	B	-0.15%
	VSH	C	-0.15%
	FIX	A	-0.15%
	BDC	C	-0.15%
	FND	D	-0.14%
	MASI	D	-0.14%
	ASGN	D	-0.14%
	KNF	B	-0.14%
	WERN	D	-0.14%
	GATX	C	-0.14%
	HWC	B	-0.14%
	KNSL	F	-0.13%
	CYTK	D	-0.13%
	UMBF	B	-0.13%
	YETI	F	-0.13%
	NOVT	D	-0.13%
	PCH	D	-0.12%
	CHDN	B	-0.12%
	AVNT	B	-0.11%
	CBT	B	-0.11%
	PEN	F	-0.11%
	HELE	F	-0.11%
	WTS	C	-0.1%
	HGV	D	-0.1%
	CHH	C	-0.1%
	WMS	C	-0.1%
	GTLS	B	-0.1%
	NEOG	F	-0.1%
	BRKR	D	-0.1%
	PR	B	-0.09%
	CHRD	B	-0.09%
	CNX	B	-0.09%
	MUR	B	-0.09%
	GT	F	-0.09%
	ALV	A	-0.09%
	ADNT	F	-0.08%
	AIT	C	-0.08%
	MTDR	D	-0.08%
	CIVI	B	-0.08%
	CADE	B	-0.07%
	HOMB	B	-0.07%
	KRG	B	-0.07%
	IBOC	A	-0.07%
	SSD	D	-0.07%
	GEF	D	-0.06%
	SSB	D	-0.06%
	FFIN	C	-0.06%
	GBCI	C	-0.06%
	UFPI	C	-0.06%
	VLY	F	-0.06%
	UBSI	D	-0.06%
	ONB	A	-0.06%

IWD: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Utilities - Regulated Electric Biotechnology Software - Application Business Services Oil & Gas E&P Asset Management Specialty Retail Capital Markets Diagnostics & Research Packaged Foods Specialty Chemicals Insurance - Property & Casualty Packaging & Containers REIT - Residential Semiconductors Software - Infrastructure Aerospace & Defense Information Technology Services

Keywords: S&P 500 Nasdaq 100 Natural Gas Insurance Bank Real Estate Investment Trust Electricity Banking Computing Aerospace Electronics Mining Chemical Telecommunications Insurance Products Medicine Biotechnology Semiconductor Transport Dow Jones Component

SMDY: Top Represented Industries & Keywords

Industries: Banks - Regional - US Oil & Gas E&P Diversified Industrials Software - Application Business Services Semiconductors Biotechnology Packaging & Containers Specialty Chemicals Asset Management Building Materials Engineering & Construction Specialty Retail Apparel Manufacturing Medical Care Packaged Foods REIT - Diversified REIT - Industrial Scientific & Technical Instruments Auto Parts

Keywords: Bank Banking Natural Gas Mining Chemical Insurance Real Estate Investment Trust Electronics Aerospace Semiconductor Construction Deposit Products Supply Chain Management Telecommunications Beverage Computing Commercial Banking Electricity Insurance Products Medicine