IWR vs. JVAL ETF Comparison

Comparison of iShares Russell Mid-Cap ETF (IWR) to JPMorgan U.S. Value Factor ETF (JVAL)

IWR

iShares Russell Mid-Cap ETF

IWR Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities. 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. The underlying index measures the performance of the mid-capitalization sector of the U.S. equity market. The underlying index is a float-adjusted, capitalization-weighted index of the 800 smallest issuers in the Russell 1000® Index.

Grade (RS Rating)

Last Trade

$94.53

Average Daily Volume

1,461,787

Number of Holdings ^*

803

* may have additional holdings in another (foreign) market

JVAL

JPMorgan U.S. Value Factor ETF

JVAL Description

The investment seeks investment results that closely correspond, before fees and expenses, to the performance of the JP Morgan US Value Factor Index. The fund will invest at least 80% of its assets in securities included in the underlying index. Assets means net assets, plus the amount of borrowing for investment purposes. The underlying index is comprised of U.S. equity securities selected to represent value factor characteristics.

Grade (RS Rating)

Last Trade

$45.23

Average Daily Volume

59,043

Number of Holdings ^*

362

* may have additional holdings in another (foreign) market

Performance

Period	IWR	JVAL
30 Days	6.87%	4.55%
60 Days	7.84%	4.91%
90 Days	9.96%	6.18%
12 Months	34.02%	29.11%

299 Overlapping Holdings

	Symbol	Grade	Weight in IWR	Weight in JVAL	Overlap
	AAP	C	0.02%	0.1%	0.02%
	ACI	C	0.07%	0.17%	0.07%
	ADM	D	0.21%	0.24%	0.21%
	AGCO	D	0.05%	0.17%	0.05%
	AGNC	D	0.06%	0.11%	0.06%
	AGO	B	0.04%	0.19%	0.04%
	AGR	B	0.02%	0.1%	0.02%
	AKAM	D	0.11%	0.21%	0.11%
	AL	B	0.04%	0.05%	0.04%
	ALGM	D	0.02%	0.0%	0.0%
	ALLY	C	0.08%	0.21%	0.08%
	ALSN	B	0.08%	0.29%	0.08%
	AMCR	D	0.12%	0.22%	0.12%
	AMKR	D	0.02%	0.07%	0.02%
	AN	C	0.03%	0.2%	0.03%
	ANSS	B	0.24%	0.19%	0.19%
	APP	B	0.63%	0.87%	0.63%
	APTV	D	0.12%	0.12%	0.12%
	ARMK	B	0.08%	0.13%	0.08%
	ARW	D	0.05%	0.19%	0.05%
	AVT	C	0.04%	0.21%	0.04%
	AXS	A	0.06%	0.16%	0.06%
	AYI	B	0.08%	0.2%	0.08%
	BAX	D	0.13%	0.13%	0.13%
	BBWI	D	0.06%	0.12%	0.06%
	BBY	D	0.16%	0.23%	0.16%
	BC	C	0.04%	0.21%	0.04%
	BEN	C	0.05%	0.14%	0.05%
	BERY	B	0.06%	0.19%	0.06%
	BG	F	0.1%	0.14%	0.1%
	BK	A	0.48%	0.4%	0.4%
	BLDR	D	0.17%	0.25%	0.17%
	BOKF	B	0.02%	0.09%	0.02%
	BPOP	B	0.06%	0.21%	0.06%
	BRX	A	0.07%	0.01%	0.01%
	BSY	D	0.05%	0.11%	0.05%
	BWA	D	0.06%	0.16%	0.06%
	BYD	C	0.04%	0.18%	0.04%
	CACI	D	0.09%	0.26%	0.09%
	CAG	D	0.1%	0.2%	0.1%
	CCK	C	0.09%	0.22%	0.09%
	CDW	F	0.2%	0.24%	0.2%
	CE	F	0.07%	0.04%	0.04%
	CF	B	0.13%	0.06%	0.06%
	CFG	B	0.17%	0.28%	0.17%
	CIVI	D	0.04%	0.1%	0.04%
	CLF	F	0.04%	0.02%	0.02%
	CLVT	F	0.01%	0.14%	0.01%
	CMA	A	0.07%	0.23%	0.07%
	CMI	A	0.41%	0.4%	0.4%
	CNC	D	0.25%	0.2%	0.2%
	CNH	C	0.08%	0.18%	0.08%
	CNXC	F	0.01%	0.11%	0.01%
	COLB	A	0.05%	0.19%	0.05%
	COLM	B	0.02%	0.1%	0.02%
	CPB	D	0.07%	0.17%	0.07%
	CPRI	F	0.02%	0.01%	0.01%
	CRI	D	0.02%	0.15%	0.02%
	CROX	D	0.05%	0.11%	0.05%
	CRUS	D	0.04%	0.16%	0.04%
	CTRA	B	0.16%	0.24%	0.16%
	CTSH	B	0.32%	0.33%	0.32%
	CUZ	B	0.04%	0.11%	0.04%
	CWEN	C	0.02%	0.1%	0.02%
	CWEN	C	0.01%	0.1%	0.01%
	CXT	B	0.02%	0.14%	0.02%
	DAL	C	0.34%	0.27%	0.27%
	DBX	B	0.05%	0.24%	0.05%
	DD	D	0.28%	0.31%	0.28%
	DDS	B	0.01%	0.1%	0.01%
	DG	F	0.14%	0.14%	0.14%
	DGX	A	0.15%	0.25%	0.15%
	DHI	D	0.39%	0.32%	0.32%
	DINO	D	0.05%	0.16%	0.05%
	DKS	C	0.09%	0.21%	0.09%
	DLB	B	0.03%	0.21%	0.03%
	DNB	B	0.03%	0.21%	0.03%
	DOCU	A	0.13%	0.19%	0.13%
	DOV	A	0.23%	0.3%	0.23%
	DOW	F	0.26%	0.22%	0.22%
	DOX	D	0.08%	0.22%	0.08%
	DRI	B	0.16%	0.23%	0.16%
	DT	C	0.13%	0.06%	0.06%
	DV	C	0.02%	0.17%	0.02%
	DVN	F	0.2%	0.13%	0.13%
	DXC	B	0.03%	0.16%	0.03%
	EBAY	D	0.26%	0.3%	0.26%
	ED	D	0.28%	0.28%	0.28%
	EHC	B	0.08%	0.15%	0.08%
	ENTG	D	0.12%	0.12%	0.12%
	EPAM	C	0.11%	0.27%	0.11%
	EPR	D	0.03%	0.18%	0.03%
	EQR	B	0.23%	0.04%	0.04%
	ETR	B	0.26%	0.33%	0.26%
	EVRG	A	0.12%	0.24%	0.12%
	EXC	C	0.32%	0.21%	0.21%
	FAF	A	0.05%	0.19%	0.05%
	FANG	D	0.27%	0.06%	0.06%
	FBIN	D	0.08%	0.12%	0.08%
	FFIV	B	0.11%	0.27%	0.11%
	FHB	A	0.03%	0.13%	0.03%
	FHN	A	0.09%	0.19%	0.09%
	FIS	C	0.41%	0.14%	0.14%
	FITB	A	0.26%	0.32%	0.26%
	FMC	D	0.06%	0.12%	0.06%
	FNB	A	0.05%	0.21%	0.05%
	FOXA	B	0.09%	0.25%	0.09%
	FTRE	D	0.01%	0.07%	0.01%
	G	B	0.06%	0.14%	0.06%
	GAP	C	0.04%	0.19%	0.04%
	GDDY	A	0.21%	0.32%	0.21%
	GEN	B	0.13%	0.27%	0.13%
	GFS	C	0.03%	0.21%	0.03%
	GIS	D	0.29%	0.26%	0.26%
	GLOB	B	0.07%	0.16%	0.07%
	GLPI	C	0.11%	0.13%	0.11%
	GLW	B	0.29%	0.33%	0.29%
	GNTX	C	0.06%	0.18%	0.06%
	GPC	D	0.14%	0.19%	0.14%
	GPK	C	0.07%	0.21%	0.07%
	GPN	B	0.24%	0.19%	0.19%
	GRMN	B	0.27%	0.33%	0.27%
	GTES	A	0.03%	0.13%	0.03%
	HBAN	A	0.21%	0.3%	0.21%
	HII	D	0.06%	0.16%	0.06%
	HIW	D	0.03%	0.2%	0.03%
	HOG	D	0.03%	0.17%	0.03%
	HPE	B	0.23%	0.32%	0.23%
	HPQ	B	0.3%	0.32%	0.3%
	HRB	D	0.07%	0.2%	0.07%
	HRL	D	0.07%	0.1%	0.07%
	HSIC	B	0.07%	0.06%	0.06%
	HST	C	0.1%	0.14%	0.1%
	HUM	C	0.27%	0.19%	0.19%
	HUN	F	0.03%	0.03%	0.03%
	IAC	D	0.03%	0.1%	0.03%
	INFA	D	0.02%	0.11%	0.02%
	INGR	B	0.08%	0.15%	0.08%
	IP	B	0.16%	0.26%	0.16%
	IPG	D	0.08%	0.17%	0.08%
	IPGP	D	0.02%	0.14%	0.02%
	IVZ	B	0.05%	0.18%	0.05%
	JAZZ	B	0.06%	0.13%	0.06%
	JBL	B	0.12%	0.29%	0.12%
	JEF	A	0.11%	0.28%	0.11%
	JHG	A	0.05%	0.2%	0.05%
	JWN	C	0.02%	0.15%	0.02%
	KBR	F	0.06%	0.24%	0.06%
	KEY	B	0.15%	0.22%	0.15%
	KIM	A	0.14%	0.23%	0.14%
	KMI	A	0.44%	0.39%	0.39%
	KR	B	0.32%	0.32%	0.32%
	KRC	C	0.04%	0.15%	0.04%
	KSS	F	0.02%	0.17%	0.02%
	LAD	A	0.08%	0.24%	0.08%
	LDOS	C	0.18%	0.32%	0.18%
	LEA	D	0.04%	0.13%	0.04%
	LEG	F	0.01%	0.11%	0.01%
	LEN	D	0.33%	0.3%	0.3%
	LEN	D	0.01%	0.3%	0.01%
	LH	C	0.16%	0.16%	0.16%
	LHX	C	0.38%	0.31%	0.31%
	LKQ	D	0.08%	0.16%	0.08%
	LNC	B	0.04%	0.08%	0.04%
	LOPE	B	0.04%	0.0%	0.0%
	LPX	B	0.06%	0.12%	0.06%
	LVS	C	0.14%	0.15%	0.14%
	LYB	F	0.18%	0.23%	0.18%
	M	D	0.04%	0.18%	0.04%
	MAN	D	0.02%	0.17%	0.02%
	MCHP	D	0.27%	0.28%	0.27%
	MDU	D	0.03%	0.13%	0.03%
	MGM	D	0.07%	0.18%	0.07%
	MOS	F	0.07%	0.21%	0.07%
	MPW	F	0.02%	0.09%	0.02%
	MRO	B	0.13%	0.25%	0.13%
	MSM	C	0.03%	0.2%	0.03%
	MTB	A	0.29%	0.27%	0.27%
	MTCH	D	0.07%	0.18%	0.07%
	MTG	C	0.05%	0.2%	0.05%
	MTN	C	0.06%	0.08%	0.06%
	MUSA	A	0.08%	0.16%	0.08%
	NFG	A	0.05%	0.2%	0.05%
	NNN	D	0.06%	0.1%	0.06%
	NTAP	C	0.2%	0.27%	0.2%
	NUE	C	0.29%	0.31%	0.29%
	NVR	D	0.21%	0.2%	0.2%
	NVT	B	0.1%	0.04%	0.04%
	NWL	B	0.03%	0.12%	0.03%
	NWSA	B	0.09%	0.23%	0.09%
	NXST	C	0.04%	0.21%	0.04%
	OC	A	0.14%	0.26%	0.14%
	OGE	B	0.07%	0.23%	0.07%
	OGN	D	0.03%	0.06%	0.03%
	OHI	C	0.08%	0.22%	0.08%
	OKTA	C	0.1%	0.13%	0.1%
	OLED	D	0.06%	0.19%	0.06%
	OMC	C	0.15%	0.25%	0.15%
	OMF	A	0.05%	0.21%	0.05%
	ON	D	0.23%	0.28%	0.23%
	ORI	A	0.08%	0.23%	0.08%
	OSK	B	0.06%	0.22%	0.06%
	OVV	B	0.1%	0.19%	0.1%
	OZK	B	0.04%	0.13%	0.04%
	PAG	B	0.02%	0.18%	0.02%
	PARA	C	0.05%	0.12%	0.05%
	PATH	C	0.05%	0.13%	0.05%
	PAYC	B	0.09%	0.31%	0.09%
	PB	A	0.06%	0.15%	0.06%
	PEGA	A	0.03%	0.25%	0.03%
	PFG	D	0.16%	0.25%	0.16%
	PHM	D	0.22%	0.27%	0.22%
	PII	D	0.03%	0.09%	0.03%
	PINC	B	0.02%	0.11%	0.02%
	PK	B	0.02%	0.14%	0.02%
	PKG	A	0.17%	0.29%	0.17%
	PNR	A	0.14%	0.29%	0.14%
	PNW	B	0.09%	0.22%	0.09%
	POOL	C	0.11%	0.13%	0.11%
	POST	C	0.04%	0.12%	0.04%
	PPC	C	0.02%	0.09%	0.02%
	PPL	B	0.21%	0.27%	0.21%
	PR	B	0.08%	0.13%	0.08%
	PRGO	B	0.03%	0.1%	0.03%
	PRU	A	0.38%	0.35%	0.35%
	PSN	D	0.04%	0.15%	0.04%
	PTC	A	0.19%	0.18%	0.18%
	PVH	C	0.05%	0.16%	0.05%
	QRVO	F	0.05%	0.14%	0.05%
	R	B	0.06%	0.26%	0.06%
	REG	B	0.11%	0.12%	0.11%
	RF	A	0.2%	0.26%	0.2%
	RGA	A	0.13%	0.09%	0.09%
	RHI	B	0.06%	0.19%	0.06%
	RL	B	0.07%	0.22%	0.07%
	RPRX	D	0.08%	0.11%	0.08%
	RS	B	0.15%	0.26%	0.15%
	RVTY	F	0.11%	0.14%	0.11%
	SAIC	F	0.05%	0.23%	0.05%
	SCI	B	0.1%	0.24%	0.1%
	SEE	C	0.04%	0.09%	0.04%
	SIRI	C	0.05%	0.1%	0.05%
	SJM	D	0.09%	0.14%	0.09%
	SLGN	A	0.04%	0.21%	0.04%
	SNA	A	0.15%	0.31%	0.15%
	SNDR	B	0.01%	0.1%	0.01%
	SNV	B	0.07%	0.23%	0.07%
	SNX	C	0.07%	0.22%	0.07%
	SOLV	C	0.08%	0.05%	0.05%
	SON	D	0.04%	0.12%	0.04%
	SPB	C	0.02%	0.1%	0.02%
	SPG	B	0.48%	0.32%	0.32%
	SSNC	B	0.13%	0.24%	0.13%
	ST	F	0.04%	0.18%	0.04%
	STT	A	0.24%	0.29%	0.24%
	STWD	C	0.05%	0.17%	0.05%
	SWK	D	0.11%	0.12%	0.11%
	SWKS	F	0.11%	0.2%	0.11%
	SYF	B	0.21%	0.34%	0.21%
	TAP	C	0.09%	0.25%	0.09%
	TDC	D	0.02%	0.11%	0.02%
	TER	D	0.13%	0.22%	0.13%
	TFX	F	0.08%	0.07%	0.07%
	THC	D	0.12%	0.21%	0.12%
	THO	B	0.05%	0.19%	0.05%
	TNL	A	0.03%	0.19%	0.03%
	TOL	B	0.13%	0.25%	0.13%
	TPR	B	0.11%	0.24%	0.11%
	TSN	B	0.15%	0.1%	0.1%
	TWLO	A	0.14%	0.37%	0.14%
	TXT	D	0.13%	0.19%	0.13%
	U	C	0.04%	0.12%	0.04%
	UAL	A	0.25%	0.27%	0.25%
	UGI	A	0.04%	0.2%	0.04%
	UHAL	D	0.0%	0.04%	0.0%
	UHAL	D	0.05%	0.04%	0.04%
	UHS	D	0.1%	0.2%	0.1%
	UNM	A	0.1%	0.28%	0.1%
	UTHR	C	0.13%	0.26%	0.13%
	VAC	B	0.03%	0.2%	0.03%
	VFC	C	0.06%	0.08%	0.06%
	VICI	C	0.27%	0.28%	0.27%
	VOYA	B	0.07%	0.1%	0.07%
	VRSN	F	0.13%	0.14%	0.13%
	VRT	B	0.36%	0.43%	0.36%
	VTRS	A	0.13%	0.24%	0.13%
	WAL	B	0.08%	0.22%	0.08%
	WBS	A	0.09%	0.17%	0.09%
	WCC	B	0.07%	0.27%	0.07%
	WEN	D	0.03%	0.14%	0.03%
	WH	B	0.06%	0.13%	0.06%
	WHR	B	0.05%	0.2%	0.05%
	WPC	D	0.1%	0.12%	0.1%
	WSM	B	0.14%	0.21%	0.14%
	WU	D	0.02%	0.16%	0.02%
	ZBH	C	0.19%	0.17%	0.17%
	ZI	D	0.03%	0.21%	0.03%
	ZION	B	0.07%	0.19%	0.07%
	ZM	B	0.18%	0.31%	0.18%

IWR Overweight 504 Positions Relative to JVAL

	Symbol	Grade	Weight
	PLTR	B	1.09%
	WMB	A	0.57%
	OKE	A	0.53%
	AJG	B	0.52%
	AFL	B	0.51%
	COIN	C	0.5%
	HLT	A	0.5%
	DLR	B	0.48%
	URI	B	0.46%
	AMP	A	0.46%
	RCL	A	0.45%
	MSTR	C	0.44%
	FICO	B	0.44%
	ALL	A	0.43%
	TTD	B	0.43%
	GWW	B	0.42%
	O	D	0.41%
	LNG	B	0.4%
	VST	B	0.4%
	FAST	B	0.39%
	SQ	B	0.39%
	PWR	A	0.39%
	MSCI	C	0.38%
	KVUE	A	0.38%
	PAYX	C	0.38%
	ROST	C	0.38%
	PEG	A	0.37%
	AME	A	0.37%
	PCG	A	0.37%
	CCI	D	0.37%
	HWM	A	0.37%
	EA	A	0.36%
	DFS	B	0.36%
	ODFL	B	0.35%
	BKR	B	0.35%
	AXON	A	0.35%
	TRGP	B	0.35%
	IR	B	0.34%
	CBRE	B	0.33%
	COR	B	0.33%
	VRSK	A	0.33%
	OTIS	C	0.33%
	FERG	B	0.33%
	HES	B	0.33%
	CTVA	C	0.32%
	XEL	A	0.32%
	IT	C	0.32%
	GEHC	F	0.31%
	A	D	0.31%
	SYY	B	0.31%
	YUM	B	0.31%
	DDOG	A	0.31%
	CHTR	C	0.3%
	ACGL	D	0.3%
	VMC	B	0.3%
	IDXX	F	0.29%
	IQV	D	0.29%
	MLM	B	0.29%
	IRM	D	0.28%
	WAB	B	0.28%
	RMD	C	0.28%
	EXR	D	0.28%
	HIG	B	0.28%
	NDAQ	A	0.27%
	AVB	B	0.27%
	ROK	B	0.27%
	HUBS	A	0.27%
	WEC	A	0.26%
	VEEV	C	0.26%
	EIX	B	0.26%
	WTW	B	0.26%
	DXCM	D	0.25%
	RJF	A	0.25%
	EFX	F	0.25%
	ARES	A	0.25%
	TTWO	A	0.25%
	PPG	F	0.24%
	CSGP	D	0.24%
	CAH	B	0.24%
	XYL	D	0.24%
	TSCO	D	0.24%
	ALNY	D	0.24%
	CPNG	D	0.23%
	HAL	C	0.22%
	AWK	D	0.22%
	BRO	B	0.22%
	FCNCA	A	0.22%
	FTV	C	0.22%
	CHD	B	0.22%
	SW	A	0.22%
	DECK	A	0.22%
	BR	A	0.22%
	NET	B	0.22%
	MPWR	F	0.22%
	MTD	D	0.21%
	HSY	F	0.21%
	EQT	B	0.21%
	TYL	B	0.21%
	VLTO	D	0.21%
	TPL	A	0.21%
	VTR	C	0.21%
	RBLX	C	0.21%
	TROW	B	0.21%
	KEYS	A	0.21%
	CVNA	B	0.21%
	SBAC	D	0.2%
	FE	C	0.2%
	CCL	B	0.2%
	AEE	A	0.2%
	DTE	C	0.2%
	CPAY	A	0.2%
	WY	D	0.19%
	WST	C	0.19%
	EXPE	B	0.19%
	EME	C	0.19%
	BIIB	F	0.19%
	CINF	A	0.19%
	LPLA	A	0.19%
	HUBB	B	0.19%
	NTRS	A	0.18%
	HOOD	B	0.18%
	ILMN	D	0.18%
	EXE	B	0.18%
	STE	F	0.18%
	ES	D	0.18%
	TDY	B	0.18%
	ATO	A	0.18%
	MKL	A	0.18%
	IFF	D	0.18%
	WBD	C	0.18%
	FSLR	F	0.17%
	CMS	C	0.17%
	LYV	A	0.17%
	WDC	D	0.17%
	CSL	C	0.17%
	INVH	D	0.17%
	STLD	B	0.17%
	CLX	B	0.17%
	CBOE	B	0.17%
	WAT	B	0.17%
	K	A	0.17%
	IBKR	A	0.16%
	NRG	B	0.16%
	BAH	F	0.16%
	ESS	B	0.16%
	COO	D	0.16%
	LUV	C	0.16%
	LII	A	0.16%
	CNP	B	0.16%
	ZBRA	B	0.16%
	MDB	C	0.16%
	WRB	A	0.15%
	HOLX	D	0.15%
	WSO	A	0.15%
	DKNG	B	0.15%
	TOST	B	0.15%
	PODD	C	0.15%
	ARE	D	0.15%
	MAA	B	0.15%
	FDS	B	0.15%
	ZS	C	0.15%
	TRU	D	0.15%
	MKC	D	0.15%
	BALL	D	0.15%
	NI	A	0.14%
	NTRA	B	0.14%
	XPO	B	0.14%
	MANH	D	0.14%
	ALGN	D	0.14%
	FWONK	B	0.14%
	NTNX	A	0.14%
	EXPD	D	0.14%
	PINS	D	0.14%
	HEI	B	0.14%
	BURL	A	0.14%
	MOH	F	0.14%
	TRMB	B	0.14%
	RPM	A	0.14%
	IEX	B	0.14%
	MAS	D	0.14%
	J	F	0.14%
	ULTA	F	0.14%
	FNF	B	0.13%
	SUI	D	0.13%
	LNT	A	0.13%
	FIX	A	0.13%
	GWRE	A	0.13%
	AVY	D	0.13%
	EG	C	0.13%
	ROL	B	0.12%
	SOFI	A	0.12%
	AVTR	F	0.12%
	EQH	B	0.12%
	EWBC	A	0.12%
	NDSN	B	0.12%
	ACM	A	0.12%
	UDR	B	0.12%
	DOC	D	0.12%
	USFD	A	0.12%
	PSTG	D	0.12%
	CASY	A	0.12%
	DPZ	C	0.12%
	JBHT	C	0.12%
	TW	A	0.12%
	L	A	0.12%
	GGG	B	0.12%
	PFGC	B	0.11%
	CHRW	C	0.11%
	DLTR	F	0.11%
	AFRM	B	0.11%
	ELS	C	0.11%
	TXRH	C	0.11%
	RNR	C	0.11%
	CW	B	0.11%
	SAIA	B	0.11%
	BJ	A	0.1%
	BWXT	B	0.1%
	Z	A	0.1%
	NBIX	C	0.1%
	EMN	D	0.1%
	JNPR	F	0.1%
	HEI	B	0.1%
	BMRN	D	0.1%
	FTI	A	0.1%
	INCY	C	0.1%
	ALB	C	0.1%
	ALLE	D	0.1%
	KMX	B	0.1%
	BXP	D	0.1%
	CPT	B	0.1%
	JLL	D	0.1%
	ITT	A	0.1%
	JKHY	D	0.1%
	COHR	B	0.1%
	CLH	B	0.1%
	AMH	D	0.1%
	PRI	A	0.09%
	TECH	D	0.09%
	GNRC	B	0.09%
	CTLT	B	0.09%
	CAVA	B	0.09%
	EVR	B	0.09%
	FND	C	0.09%
	CUBE	D	0.09%
	LW	C	0.09%
	LAMR	D	0.09%
	BLD	D	0.09%
	ATR	B	0.09%
	CG	A	0.09%
	TTEK	F	0.09%
	AA	B	0.09%
	DAY	B	0.09%
	RRX	B	0.09%
	DUOL	A	0.09%
	NCLH	B	0.09%
	LECO	B	0.09%
	OWL	A	0.09%
	AIZ	A	0.09%
	SF	B	0.09%
	AAON	B	0.08%
	TPX	B	0.08%
	GMED	A	0.08%
	DCI	B	0.08%
	SMCI	F	0.08%
	WMS	D	0.08%
	RGLD	C	0.08%
	WYNN	D	0.08%
	WING	D	0.08%
	FRT	B	0.08%
	BRBR	A	0.08%
	TKO	B	0.08%
	SRPT	D	0.08%
	PNFP	B	0.08%
	AAL	B	0.08%
	CRL	C	0.08%
	CIEN	B	0.08%
	MKTX	D	0.08%
	GL	B	0.08%
	HLI	B	0.08%
	WTRG	B	0.08%
	CHDN	B	0.08%
	LBRDK	C	0.08%
	DTM	B	0.08%
	NLY	C	0.08%
	AFG	A	0.08%
	AES	F	0.08%
	EXEL	B	0.08%
	GME	C	0.08%
	EXP	A	0.08%
	WWD	B	0.08%
	KNSL	B	0.08%
	CHRD	D	0.07%
	MEDP	D	0.07%
	RRC	B	0.07%
	X	C	0.07%
	SEIC	B	0.07%
	CZR	F	0.07%
	SKX	D	0.07%
	APG	B	0.07%
	DVA	B	0.07%
	APA	D	0.07%
	CNM	D	0.07%
	CFR	B	0.07%
	PLNT	A	0.07%
	CHE	D	0.07%
	RIVN	F	0.07%
	EGP	F	0.07%
	LNW	D	0.07%
	NYT	C	0.07%
	MTZ	B	0.07%
	TTC	D	0.07%
	CR	A	0.07%
	WTFC	A	0.07%
	CBSH	A	0.07%
	ITCI	C	0.07%
	FYBR	D	0.07%
	HAS	D	0.07%
	BILL	A	0.07%
	AOS	F	0.07%
	PCTY	B	0.07%
	ROKU	D	0.07%
	KNX	B	0.07%
	PEN	B	0.07%
	AR	B	0.07%
	AXTA	A	0.07%
	RBC	A	0.07%
	EXAS	D	0.07%
	MORN	B	0.07%
	REXR	F	0.07%
	AWI	A	0.06%
	H	B	0.06%
	CFLT	B	0.06%
	SN	D	0.06%
	LSCC	D	0.06%
	MTDR	B	0.06%
	VMI	B	0.06%
	DAR	C	0.06%
	ALK	C	0.06%
	CGNX	C	0.06%
	FCN	D	0.06%
	MTSI	B	0.06%
	MASI	A	0.06%
	ELAN	D	0.06%
	GXO	B	0.06%
	FR	C	0.06%
	ATI	D	0.06%
	FRPT	B	0.06%
	RGEN	D	0.06%
	ESTC	C	0.06%
	ESAB	B	0.06%
	MKSI	C	0.06%
	GTLB	B	0.06%
	VNO	B	0.06%
	S	B	0.06%
	MIDD	C	0.06%
	COKE	C	0.06%
	CART	C	0.06%
	RLI	B	0.06%
	RYAN	B	0.06%
	WEX	D	0.06%
	PCOR	B	0.06%
	TREX	C	0.06%
	MHK	D	0.06%
	KEX	C	0.06%
	SMAR	A	0.06%
	ADC	B	0.06%
	SSD	D	0.06%
	ONTO	D	0.06%
	FLS	B	0.06%
	ENPH	F	0.06%
	LITE	B	0.05%
	RITM	C	0.05%
	VVV	F	0.05%
	OLLI	D	0.05%
	BRKR	D	0.05%
	FOX	A	0.05%
	ETSY	D	0.05%
	THG	A	0.05%
	VNT	B	0.05%
	AMG	B	0.05%
	LFUS	F	0.05%
	WFRD	D	0.05%
	IDA	A	0.05%
	LAZ	B	0.05%
	FOUR	B	0.05%
	BFAM	D	0.05%
	WBA	F	0.05%
	DOCS	C	0.05%
	BIO	D	0.05%
	COLD	D	0.05%
	SITE	D	0.05%
	ESI	A	0.05%
	MAT	D	0.05%
	NOV	C	0.05%
	MSA	D	0.05%
	KD	B	0.05%
	WSC	D	0.05%
	LSTR	D	0.05%
	ELF	C	0.05%
	STAG	F	0.05%
	LYFT	C	0.05%
	AZEK	A	0.05%
	HR	C	0.05%
	AZPN	A	0.05%
	KMPR	B	0.04%
	RYN	D	0.04%
	EEFT	B	0.04%
	CELH	F	0.04%
	RH	B	0.04%
	FIVE	F	0.04%
	HCP	B	0.04%
	ROIV	C	0.04%
	WTM	A	0.04%
	HXL	D	0.04%
	OLN	D	0.04%
	TKR	D	0.04%
	INSP	D	0.04%
	BROS	B	0.04%
	AM	A	0.04%
	VNOM	A	0.04%
	VKTX	F	0.04%
	APPF	B	0.04%
	SLM	A	0.04%
	CCCS	B	0.04%
	IONS	F	0.04%
	TPG	A	0.04%
	AMTM	D	0.03%
	BHF	B	0.03%
	SMG	D	0.03%
	PENN	C	0.03%
	YETI	C	0.03%
	NCNO	B	0.03%
	IRDM	D	0.03%
	ZG	A	0.03%
	ACHC	F	0.03%
	NVST	B	0.03%
	SPR	D	0.03%
	W	F	0.03%
	NWS	B	0.03%
	XRAY	F	0.03%
	NEU	C	0.03%
	ASH	D	0.03%
	LINE	F	0.03%
	FLO	D	0.03%
	RARE	D	0.03%
	CHH	A	0.03%
	MSGS	A	0.03%
	WLK	D	0.03%
	VSTS	C	0.02%
	UAA	C	0.02%
	ALAB	B	0.02%
	RKT	F	0.02%
	QDEL	F	0.02%
	LBTYK	A	0.02%
	LBTYA	B	0.02%
	LCID	F	0.02%
	SHC	F	0.02%
	ADT	C	0.02%
	AZTA	D	0.02%
	RCM	F	0.02%
	HAYW	B	0.02%
	MP	B	0.02%
	HHH	B	0.02%
	ENOV	C	0.02%
	APLS	D	0.02%
	COTY	F	0.02%
	CACC	D	0.02%
	FIVN	C	0.02%
	SAM	C	0.02%
	VIRT	B	0.02%
	CC	C	0.02%
	ECG	C	0.02%
	AMED	F	0.02%
	RNG	B	0.02%
	SNRE	D	0.02%
	NSA	D	0.02%
	LLYVK	A	0.02%
	UWMC	D	0.01%
	PLTK	B	0.01%
	SEB	F	0.01%
	TFSL	A	0.01%
	WOLF	F	0.01%
	LOAR	A	0.01%
	CNA	B	0.01%
	AS	B	0.01%
	CERT	F	0.01%
	PYCR	C	0.01%
	LLYVA	A	0.01%
	UI	A	0.01%
	TXG	F	0.01%
	REYN	D	0.01%
	TRIP	F	0.01%
	LBRDA	C	0.01%
	DJT	C	0.01%
	GO	C	0.01%
	QS	F	0.01%
	CAR	C	0.01%
	FWONA	B	0.01%
	UA	C	0.01%
	BIRK	D	0.01%
	PARAA	B	0.0%
	SEG	B	0.0%
	GRAL	C	0.0%
	NFE	D	0.0%

IWR Underweight 66 Positions Relative to JVAL

	Symbol	Grade	Weight
	GOOGL	C	-2.17%
	META	D	-2.12%
	AVGO	D	-1.92%
	AAPL	C	-1.87%
	MSFT	F	-1.78%
	UNH	C	-1.77%
	CRM	B	-1.33%
	ORCL	B	-1.24%
	JNJ	D	-1.22%
	CAT	B	-0.85%
	IBM	C	-0.84%
	TXN	C	-0.82%
	HD	A	-0.82%
	INTU	C	-0.81%
	QCOM	F	-0.79%
	CSCO	B	-0.77%
	CVX	A	-0.74%
	AMAT	F	-0.7%
	MRK	F	-0.66%
	AMGN	D	-0.65%
	C	A	-0.65%
	PFE	D	-0.65%
	T	A	-0.65%
	INTC	D	-0.6%
	ADI	D	-0.54%
	GILD	C	-0.52%
	PM	B	-0.52%
	BMY	B	-0.51%
	APH	A	-0.51%
	LRCX	F	-0.51%
	MDT	D	-0.51%
	MO	A	-0.5%
	CMCSA	B	-0.49%
	COF	B	-0.48%
	RTX	C	-0.48%
	MRVL	B	-0.48%
	CI	F	-0.47%
	KLAC	D	-0.46%
	ELV	F	-0.45%
	BAC	A	-0.45%
	GM	B	-0.44%
	USB	A	-0.42%
	MU	D	-0.42%
	JCI	C	-0.42%
	TFC	A	-0.41%
	FDX	B	-0.41%
	ROP	B	-0.4%
	CVS	D	-0.4%
	PCAR	B	-0.39%
	GD	F	-0.38%
	PSX	C	-0.37%
	MPC	D	-0.36%
	AIG	B	-0.36%
	DELL	C	-0.36%
	F	C	-0.34%
	TGT	F	-0.34%
	WDAY	B	-0.29%
	KHC	F	-0.26%
	VLO	C	-0.24%
	VZ	C	-0.2%
	CRBG	B	-0.18%
	PH	A	-0.15%
	PNC	B	-0.13%
	ADTN	A	-0.11%
	D	C	-0.09%
	BDX	F	-0.06%

IWR: Top Represented Industries & Keywords

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

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

JVAL: Top Represented Industries & Keywords

Industries: Banks - Regional - US Software - Application Semiconductors Information Technology Services Packaged Foods Packaging & Containers Software - Infrastructure Asset Management Oil & Gas E&P Diversified Industrials Semiconductor Equipment & Materials Specialty Retail Utilities - Regulated Electric Apparel Manufacturing Auto Parts Drug Manufacturers - Major Health Care Plans Internet Content & Information REIT - Retail REIT - Diversified

Keywords: S&P 500 Nasdaq 100 Computing Bank Banking Electronics Insurance Semiconductor Natural Gas Telecommunications Cloud Computing Dow Jones Component Integrated Circuits Aerospace Cash Management Financial Products Real Estate Investment Trust Commercial Banking Electricity Chemical