IWR vs. MFUS ETF Comparison

Comparison of iShares Russell Mid-Cap ETF (IWR) to PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS)

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

$87.95

Average Daily Volume

1,141,867

Number of Holdings ^*

802

* 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

$50.35

Average Daily Volume

7,922

Number of Holdings ^*

809

* may have additional holdings in another (foreign) market

Performance

Period	IWR	MFUS
30 Days	4.05%	3.55%
60 Days	10.52%	10.60%
90 Days	9.48%	6.54%
12 Months	31.66%	36.03%

470 Overlapping Holdings

	Symbol	Grade	Weight in IWR	Weight in MFUS	Overlap
	A	B	0.37%	0.05%	0.05%
	AA	B	0.08%	0.01%	0.01%
	AAP	F	0.02%	0.01%	0.01%
	ACI	F	0.07%	0.01%	0.01%
	ACM	A	0.12%	0.03%	0.03%
	ADC	C	0.06%	0.01%	0.01%
	ADM	F	0.24%	0.25%	0.24%
	AES	C	0.12%	0.02%	0.02%
	AFL	A	0.54%	0.22%	0.22%
	AGCO	D	0.05%	0.02%	0.02%
	AGNC	B	0.07%	0.04%	0.04%
	AIZ	B	0.09%	0.08%	0.08%
	AJG	C	0.53%	0.14%	0.14%
	AKAM	D	0.13%	0.03%	0.03%
	ALGN	D	0.16%	0.02%	0.02%
	ALL	A	0.43%	0.26%	0.26%
	ALLY	F	0.08%	0.05%	0.05%
	ALNY	C	0.3%	0.07%	0.07%
	ALSN	A	0.07%	0.09%	0.07%
	AMED	D	0.03%	0.01%	0.01%
	AMG	B	0.05%	0.06%	0.05%
	AMH	D	0.11%	0.04%	0.04%
	AMKR	F	0.03%	0.03%	0.03%
	AMP	A	0.41%	0.12%	0.12%
	AN	D	0.04%	0.07%	0.04%
	ANSS	D	0.23%	0.05%	0.05%
	AOS	C	0.09%	0.1%	0.09%
	APG	F	0.06%	0.02%	0.02%
	APP	A	0.29%	0.05%	0.05%
	AR	C	0.07%	0.04%	0.04%
	ARES	A	0.24%	0.08%	0.08%
	ARMK	C	0.09%	0.01%	0.01%
	ARW	C	0.06%	0.05%	0.05%
	ATI	C	0.07%	0.05%	0.05%
	ATO	A	0.18%	0.02%	0.02%
	ATR	A	0.09%	0.08%	0.08%
	AVB	C	0.27%	0.03%	0.03%
	AVT	B	0.04%	0.04%	0.04%
	AVTR	D	0.15%	0.04%	0.04%
	AVY	D	0.15%	0.1%	0.1%
	AWI	A	0.05%	0.03%	0.03%
	AXTA	C	0.07%	0.02%	0.02%
	AYI	A	0.08%	0.08%	0.08%
	BAH	C	0.18%	0.15%	0.15%
	BALL	C	0.18%	0.08%	0.08%
	BAX	D	0.16%	0.05%	0.05%
	BBWI	F	0.06%	0.01%	0.01%
	BBY	C	0.19%	0.23%	0.19%
	BC	C	0.05%	0.06%	0.05%
	BEN	F	0.05%	0.02%	0.02%
	BERY	C	0.07%	0.06%	0.06%
	BFAM	C	0.07%	0.03%	0.03%
	BHF	D	0.02%	0.04%	0.02%
	BIIB	F	0.24%	0.08%	0.08%
	BJ	B	0.1%	0.03%	0.03%
	BK	A	0.45%	0.17%	0.17%
	BKR	B	0.31%	0.07%	0.07%
	BLD	D	0.11%	0.04%	0.04%
	BLDR	C	0.2%	0.04%	0.04%
	BMRN	F	0.11%	0.01%	0.01%
	BR	B	0.21%	0.16%	0.16%
	BRKR	D	0.06%	0.02%	0.02%
	BRO	A	0.21%	0.11%	0.11%
	BURL	C	0.14%	0.03%	0.03%
	BWA	C	0.07%	0.01%	0.01%
	BWXT	A	0.09%	0.09%	0.09%
	BXP	B	0.11%	0.02%	0.02%
	CACC	F	0.02%	0.01%	0.01%
	CACI	A	0.1%	0.09%	0.09%
	CAG	D	0.13%	0.05%	0.05%
	CAH	B	0.23%	0.24%	0.23%
	CASY	D	0.12%	0.15%	0.12%
	CBRE	C	0.32%	0.05%	0.05%
	CBSH	D	0.06%	0.01%	0.01%
	CC	D	0.03%	0.02%	0.02%
	CCI	D	0.44%	0.08%	0.08%
	CCK	C	0.1%	0.06%	0.06%
	CCL	C	0.15%	0.02%	0.02%
	CDW	D	0.25%	0.04%	0.04%
	CE	D	0.13%	0.04%	0.04%
	CFG	C	0.15%	0.03%	0.03%
	CFR	B	0.05%	0.01%	0.01%
	CG	B	0.08%	0.02%	0.02%
	CHD	D	0.22%	0.07%	0.07%
	CHE	D	0.08%	0.06%	0.06%
	CHRW	C	0.11%	0.14%	0.11%
	CHTR	D	0.26%	0.25%	0.25%
	CINF	A	0.18%	0.02%	0.02%
	CLF	D	0.05%	0.01%	0.01%
	CLH	B	0.11%	0.04%	0.04%
	CLX	C	0.18%	0.12%	0.12%
	CMA	C	0.06%	0.04%	0.04%
	CMI	A	0.38%	0.13%	0.13%
	CMS	A	0.18%	0.03%	0.03%
	CNC	F	0.33%	0.06%	0.06%
	CNM	F	0.07%	0.01%	0.01%
	COHR	B	0.1%	0.03%	0.03%
	COIN	F	0.28%	0.06%	0.06%
	COKE	C	0.07%	0.03%	0.03%
	COLD	D	0.07%	0.04%	0.04%
	CPAY	A	0.18%	0.03%	0.03%
	CPB	D	0.08%	0.05%	0.05%
	CPNG	C	0.24%	0.04%	0.04%
	CPRI	C	0.04%	0.01%	0.01%
	CPT	C	0.11%	0.06%	0.06%
	CR	A	0.07%	0.01%	0.01%
	CRI	D	0.02%	0.06%	0.02%
	CROX	C	0.07%	0.02%	0.02%
	CRUS	D	0.05%	0.04%	0.04%
	CSL	A	0.18%	0.02%	0.02%
	CTLT	A	0.09%	0.02%	0.02%
	CTVA	A	0.35%	0.04%	0.04%
	CUBE	C	0.1%	0.05%	0.05%
	CW	A	0.11%	0.1%	0.1%
	CWEN	C	0.02%	0.02%	0.02%
	CWEN	C	0.01%	0.02%	0.01%
	DCI	B	0.08%	0.04%	0.04%
	DD	C	0.31%	0.11%	0.11%
	DDS	D	0.01%	0.03%	0.01%
	DECK	B	0.2%	0.15%	0.15%
	DFS	A	0.29%	0.08%	0.08%
	DG	F	0.16%	0.1%	0.1%
	DGX	D	0.15%	0.09%	0.09%
	DHI	C	0.49%	0.07%	0.07%
	DINO	F	0.06%	0.01%	0.01%
	DKS	D	0.1%	0.09%	0.09%
	DLB	D	0.04%	0.02%	0.02%
	DLR	C	0.44%	0.08%	0.08%
	DLTR	F	0.12%	0.03%	0.03%
	DOV	C	0.22%	0.02%	0.02%
	DOW	B	0.33%	0.02%	0.02%
	DOX	B	0.09%	0.03%	0.03%
	DPZ	D	0.13%	0.13%	0.13%
	DRI	C	0.17%	0.03%	0.03%
	DTE	B	0.23%	0.02%	0.02%
	DTM	A	0.07%	0.01%	0.01%
	DVA	C	0.07%	0.17%	0.07%
	DXC	C	0.03%	0.01%	0.01%
	EA	D	0.33%	0.16%	0.16%
	EBAY	A	0.28%	0.38%	0.28%
	ED	C	0.31%	0.06%	0.06%
	EFX	D	0.3%	0.13%	0.13%
	EHC	C	0.08%	0.09%	0.08%
	EIX	C	0.29%	0.05%	0.05%
	ELAN	D	0.06%	0.01%	0.01%
	ELS	D	0.11%	0.04%	0.04%
	EME	B	0.17%	0.04%	0.04%
	EMN	C	0.11%	0.04%	0.04%
	EQH	B	0.11%	0.08%	0.08%
	EQR	C	0.24%	0.04%	0.04%
	ES	D	0.2%	0.04%	0.04%
	ESAB	C	0.05%	0.01%	0.01%
	ESI	C	0.05%	0.01%	0.01%
	ESS	D	0.16%	0.02%	0.02%
	ETR	A	0.24%	0.04%	0.04%
	EVR	C	0.08%	0.11%	0.08%
	EVRG	C	0.12%	0.02%	0.02%
	EWBC	B	0.09%	0.02%	0.02%
	EXC	C	0.35%	0.07%	0.07%
	EXEL	B	0.06%	0.04%	0.04%
	EXP	C	0.08%	0.06%	0.06%
	EXPD	D	0.16%	0.09%	0.09%
	EXR	D	0.32%	0.13%	0.13%
	FAF	C	0.06%	0.02%	0.02%
	FANG	D	0.29%	0.05%	0.05%
	FAST	C	0.35%	0.11%	0.11%
	FCN	C	0.07%	0.06%	0.06%
	FCNCA	D	0.19%	0.05%	0.05%
	FDS	C	0.15%	0.04%	0.04%
	FE	C	0.22%	0.03%	0.03%
	FFIV	B	0.11%	0.06%	0.06%
	FHN	D	0.07%	0.01%	0.01%
	FICO	C	0.39%	0.21%	0.21%
	FIS	A	0.4%	0.07%	0.07%
	FITB	C	0.24%	0.04%	0.04%
	FIX	A	0.12%	0.05%	0.05%
	FLO	D	0.04%	0.04%	0.04%
	FNF	C	0.13%	0.03%	0.03%
	FOXA	B	0.08%	0.1%	0.08%
	FR	D	0.06%	0.02%	0.02%
	FTI	B	0.1%	0.04%	0.04%
	FYBR	C	0.07%	0.01%	0.01%
	G	A	0.06%	0.05%	0.05%
	GAP	F	0.04%	0.05%	0.04%
	GDDY	B	0.19%	0.1%	0.1%
	GEHC	C	0.35%	0.08%	0.08%
	GGG	C	0.12%	0.03%	0.03%
	GIS	C	0.36%	0.2%	0.2%
	GLPI	C	0.11%	0.07%	0.07%
	GLW	C	0.29%	0.19%	0.19%
	GME	D	0.07%	0.01%	0.01%
	GMED	B	0.07%	0.02%	0.02%
	GNRC	B	0.08%	0.05%	0.05%
	GNTX	D	0.06%	0.05%	0.05%
	GPK	D	0.08%	0.08%	0.08%
	GWRE	A	0.13%	0.02%	0.02%
	GWW	B	0.39%	0.19%	0.19%
	H	B	0.06%	0.01%	0.01%
	HBAN	B	0.18%	0.03%	0.03%
	HEI	C	0.14%	0.04%	0.04%
	HEI	C	0.1%	0.04%	0.04%
	HIG	A	0.29%	0.06%	0.06%
	HII	F	0.09%	0.03%	0.03%
	HLI	A	0.07%	0.07%	0.07%
	HLT	A	0.48%	0.09%	0.09%
	HOG	D	0.04%	0.03%	0.03%
	HOLX	D	0.16%	0.03%	0.03%
	HOOD	B	0.13%	0.03%	0.03%
	HPE	B	0.22%	0.1%	0.1%
	HPQ	B	0.29%	0.29%	0.29%
	HRB	C	0.07%	0.08%	0.07%
	HRL	F	0.08%	0.02%	0.02%
	HSIC	D	0.08%	0.03%	0.03%
	HST	D	0.1%	0.02%	0.02%
	HSY	D	0.24%	0.06%	0.06%
	HUBB	A	0.2%	0.03%	0.03%
	HUN	B	0.03%	0.01%	0.01%
	HWM	A	0.35%	0.15%	0.15%
	HXL	F	0.04%	0.03%	0.03%
	IBKR	A	0.13%	0.05%	0.05%
	IDXX	D	0.35%	0.06%	0.06%
	IEX	D	0.14%	0.08%	0.08%
	IFF	D	0.23%	0.04%	0.04%
	INCY	B	0.09%	0.01%	0.01%
	INGR	B	0.08%	0.06%	0.06%
	INVH	D	0.18%	0.04%	0.04%
	IP	C	0.15%	0.08%	0.08%
	IPG	D	0.1%	0.04%	0.04%
	IR	A	0.34%	0.08%	0.08%
	IRM	B	0.29%	0.12%	0.12%
	IT	A	0.32%	0.14%	0.14%
	ITT	C	0.1%	0.08%	0.08%
	IVZ	A	0.05%	0.03%	0.03%
	JBHT	D	0.12%	0.02%	0.02%
	JBL	C	0.11%	0.03%	0.03%
	JEF	A	0.09%	0.02%	0.02%
	JHG	A	0.04%	0.04%	0.04%
	JKHY	A	0.11%	0.1%	0.1%
	JLL	C	0.11%	0.06%	0.06%
	JNPR	C	0.11%	0.13%	0.11%
	JWN	D	0.02%	0.04%	0.02%
	K	B	0.18%	0.15%	0.15%
	KBR	A	0.08%	0.02%	0.02%
	KD	D	0.04%	0.04%	0.04%
	KEX	C	0.06%	0.02%	0.02%
	KEY	B	0.13%	0.02%	0.02%
	KIM	C	0.13%	0.02%	0.02%
	KMI	A	0.37%	0.09%	0.09%
	KMPR	D	0.03%	0.02%	0.02%
	KNX	D	0.07%	0.01%	0.01%
	KR	C	0.32%	0.37%	0.32%
	KSS	D	0.02%	0.03%	0.02%
	L	C	0.12%	0.06%	0.06%
	LAD	C	0.07%	0.02%	0.02%
	LAMR	C	0.1%	0.05%	0.05%
	LBRDK	C	0.07%	0.02%	0.02%
	LDOS	A	0.19%	0.11%	0.11%
	LEA	F	0.05%	0.01%	0.01%
	LECO	D	0.09%	0.05%	0.05%
	LEG	D	0.02%	0.02%	0.02%
	LEN	C	0.38%	0.07%	0.07%
	LEN	C	0.02%	0.07%	0.02%
	LHX	A	0.4%	0.23%	0.23%
	LII	C	0.16%	0.22%	0.16%
	LNC	B	0.04%	0.03%	0.03%
	LNT	B	0.13%	0.02%	0.02%
	LNW	F	0.07%	0.02%	0.02%
	LOPE	D	0.04%	0.04%	0.04%
	LPLA	D	0.15%	0.05%	0.05%
	LPX	C	0.06%	0.08%	0.06%
	LSTR	F	0.06%	0.09%	0.06%
	LW	D	0.08%	0.03%	0.03%
	LYB	B	0.21%	0.18%	0.18%
	M	D	0.04%	0.02%	0.02%
	MAA	D	0.16%	0.02%	0.02%
	MAN	D	0.03%	0.03%	0.03%
	MANH	A	0.14%	0.04%	0.04%
	MAS	C	0.16%	0.06%	0.06%
	MASI	B	0.05%	0.03%	0.03%
	MDU	C	0.05%	0.03%	0.03%
	MHK	C	0.07%	0.01%	0.01%
	MKC	C	0.18%	0.06%	0.06%
	MKSI	F	0.06%	0.01%	0.01%
	MKTX	B	0.08%	0.02%	0.02%
	MLM	F	0.28%	0.07%	0.07%
	MORN	B	0.07%	0.03%	0.03%
	MOS	F	0.07%	0.01%	0.01%
	MPWR	B	0.36%	0.1%	0.1%
	MRO	B	0.13%	0.03%	0.03%
	MSA	F	0.05%	0.03%	0.03%
	MSCI	B	0.38%	0.06%	0.06%
	MSM	D	0.03%	0.06%	0.03%
	MTB	A	0.25%	0.03%	0.03%
	MTD	C	0.27%	0.1%	0.1%
	MTG	A	0.06%	0.03%	0.03%
	MTN	D	0.06%	0.05%	0.05%
	MUSA	D	0.08%	0.15%	0.08%
	NBIX	F	0.1%	0.04%	0.04%
	NDAQ	C	0.26%	0.05%	0.05%
	NDSN	C	0.13%	0.05%	0.05%
	NEU	F	0.03%	0.03%	0.03%
	NFG	A	0.05%	0.05%	0.05%
	NI	A	0.13%	0.02%	0.02%
	NNN	C	0.08%	0.01%	0.01%
	NOV	F	0.05%	0.01%	0.01%
	NRG	A	0.16%	0.07%	0.07%
	NTAP	D	0.21%	0.1%	0.1%
	NTRS	B	0.15%	0.03%	0.03%
	NUE	D	0.31%	0.08%	0.08%
	NVR	C	0.24%	0.1%	0.1%
	NWL	D	0.03%	0.02%	0.02%
	NWSA	D	0.09%	0.04%	0.04%
	NXST	D	0.04%	0.05%	0.04%
	NYT	C	0.08%	0.04%	0.04%
	O	C	0.47%	0.06%	0.06%
	OC	C	0.13%	0.02%	0.02%
	ODFL	F	0.33%	0.02%	0.02%
	OGN	F	0.04%	0.05%	0.04%
	OHI	C	0.09%	0.02%	0.02%
	OKE	A	0.46%	0.09%	0.09%
	OLN	D	0.05%	0.04%	0.04%
	OMC	C	0.17%	0.06%	0.06%
	OMF	D	0.04%	0.02%	0.02%
	OSK	F	0.05%	0.03%	0.03%
	OTIS	A	0.36%	0.08%	0.08%
	PAG	D	0.03%	0.02%	0.02%
	PARA	F	0.05%	0.01%	0.01%
	PAYX	B	0.39%	0.04%	0.04%
	PB	D	0.05%	0.01%	0.01%
	PEG	A	0.39%	0.06%	0.06%
	PFG	A	0.17%	0.01%	0.01%
	PHM	C	0.26%	0.11%	0.11%
	PINC	F	0.02%	0.02%	0.02%
	PK	D	0.02%	0.06%	0.02%
	PKG	B	0.16%	0.07%	0.07%
	PLTR	A	0.63%	0.14%	0.14%
	PNR	C	0.14%	0.02%	0.02%
	PNW	C	0.09%	0.01%	0.01%
	POOL	D	0.12%	0.07%	0.07%
	POST	C	0.05%	0.05%	0.05%
	PPC	C	0.02%	0.01%	0.01%
	PPG	D	0.26%	0.05%	0.05%
	PPL	C	0.21%	0.04%	0.04%
	PRU	B	0.37%	0.23%	0.23%
	PSN	A	0.04%	0.02%	0.02%
	PSTG	F	0.13%	0.04%	0.04%
	PTC	B	0.18%	0.04%	0.04%
	PVH	D	0.05%	0.02%	0.02%
	PWR	A	0.37%	0.11%	0.11%
	QRVO	F	0.08%	0.01%	0.01%
	R	C	0.05%	0.07%	0.05%
	RBC	C	0.07%	0.01%	0.01%
	RCL	B	0.35%	0.08%	0.08%
	RF	B	0.18%	0.01%	0.01%
	RGA	B	0.12%	0.06%	0.06%
	RGLD	C	0.08%	0.04%	0.04%
	RHI	D	0.06%	0.02%	0.02%
	RKT	D	0.02%	0.01%	0.01%
	RL	B	0.07%	0.03%	0.03%
	RLI	A	0.06%	0.03%	0.03%
	RMD	C	0.3%	0.17%	0.17%
	ROL	C	0.12%	0.07%	0.07%
	RPM	A	0.13%	0.12%	0.12%
	RPRX	D	0.1%	0.03%	0.03%
	RRC	D	0.06%	0.02%	0.02%
	RS	D	0.14%	0.04%	0.04%
	RYN	C	0.04%	0.03%	0.03%
	SAIC	A	0.06%	0.01%	0.01%
	SAM	D	0.02%	0.02%	0.02%
	SBAC	C	0.22%	0.03%	0.03%
	SCI	D	0.1%	0.06%	0.06%
	SEB	F	0.01%	0.05%	0.01%
	SEE	C	0.04%	0.06%	0.04%
	SEIC	B	0.06%	0.07%	0.06%
	SF	A	0.08%	0.01%	0.01%
	SJM	D	0.11%	0.04%	0.04%
	SKX	B	0.08%	0.02%	0.02%
	SLGN	B	0.04%	0.05%	0.04%
	SLM	B	0.04%	0.05%	0.04%
	SMCI	F	0.17%	0.14%	0.14%
	SMG	C	0.03%	0.04%	0.03%
	SNDR	D	0.01%	0.02%	0.01%
	SNV	D	0.05%	0.01%	0.01%
	SON	D	0.05%	0.04%	0.04%
	SPB	C	0.02%	0.01%	0.01%
	SPG	A	0.47%	0.16%	0.16%
	SPR	D	0.03%	0.01%	0.01%
	SQ	D	0.31%	0.05%	0.05%
	SRCL	B	0.05%	0.04%	0.04%
	SSNC	C	0.14%	0.02%	0.02%
	STE	D	0.2%	0.08%	0.08%
	STLD	C	0.16%	0.04%	0.04%
	SUI	D	0.14%	0.05%	0.05%
	SYF	A	0.17%	0.24%	0.17%
	SYY	D	0.33%	0.13%	0.13%
	TAP	D	0.09%	0.08%	0.08%
	TDC	D	0.02%	0.02%	0.02%
	TER	C	0.17%	0.04%	0.04%
	TFX	C	0.1%	0.03%	0.03%
	THC	D	0.13%	0.29%	0.13%
	THG	A	0.05%	0.04%	0.04%
	THO	C	0.05%	0.07%	0.05%
	TKR	B	0.05%	0.04%	0.04%
	TOL	C	0.14%	0.06%	0.06%
	TPR	B	0.09%	0.01%	0.01%
	TPX	C	0.08%	0.03%	0.03%
	TRGP	A	0.28%	0.09%	0.09%
	TROW	D	0.2%	0.08%	0.08%
	TSCO	A	0.27%	0.12%	0.12%
	TSN	D	0.14%	0.16%	0.14%
	TTC	F	0.08%	0.07%	0.07%
	TTEK	A	0.11%	0.02%	0.02%
	TTWO	D	0.22%	0.06%	0.06%
	TW	A	0.12%	0.05%	0.05%
	TXRH	A	0.1%	0.06%	0.06%
	TYL	D	0.21%	0.08%	0.08%
	UAL	A	0.16%	0.01%	0.01%
	UDR	C	0.13%	0.03%	0.03%
	UGI	C	0.04%	0.01%	0.01%
	UHAL	C	0.01%	0.04%	0.01%
	UHAL	C	0.01%	0.01%	0.01%
	UHAL	C	0.06%	0.01%	0.01%
	UHAL	C	0.06%	0.04%	0.04%
	UHS	D	0.11%	0.07%	0.07%
	ULTA	D	0.16%	0.04%	0.04%
	UNM	A	0.08%	0.04%	0.04%
	URI	C	0.46%	0.09%	0.09%
	USFD	C	0.12%	0.05%	0.05%
	UTHR	C	0.13%	0.18%	0.13%
	VFC	A	0.06%	0.02%	0.02%
	VIRT	B	0.02%	0.05%	0.02%
	VLTO	A	0.23%	0.05%	0.05%
	VNO	B	0.06%	0.07%	0.06%
	VNT	F	0.04%	0.01%	0.01%
	VRSK	D	0.33%	0.17%	0.17%
	VRSN	C	0.14%	0.04%	0.04%
	VST	A	0.36%	0.21%	0.21%
	VTR	C	0.22%	0.04%	0.04%
	VTRS	D	0.12%	0.13%	0.12%
	VVV	D	0.05%	0.02%	0.02%
	WAB	A	0.27%	0.05%	0.05%
	WAL	C	0.08%	0.02%	0.02%
	WAT	B	0.18%	0.05%	0.05%
	WBA	F	0.05%	0.11%	0.05%
	WBS	D	0.07%	0.01%	0.01%
	WCC	D	0.06%	0.07%	0.06%
	WDC	C	0.19%	0.08%	0.08%
	WEN	B	0.03%	0.05%	0.03%
	WH	C	0.05%	0.03%	0.03%
	WHR	C	0.05%	0.03%	0.03%
	WMB	A	0.48%	0.08%	0.08%
	WMS	D	0.09%	0.02%	0.02%
	WOLF	F	0.01%	0.0%	0.0%
	WPC	C	0.11%	0.03%	0.03%
	WRB	C	0.14%	0.02%	0.02%
	WSM	C	0.16%	0.21%	0.16%
	WSO	C	0.15%	0.2%	0.15%
	WST	D	0.19%	0.04%	0.04%
	WTFC	B	0.06%	0.01%	0.01%
	WTM	C	0.04%	0.04%	0.04%
	WTW	C	0.26%	0.1%	0.1%
	WU	D	0.03%	0.07%	0.03%
	WWD	C	0.09%	0.01%	0.01%
	X	F	0.07%	0.03%	0.03%
	XPO	F	0.1%	0.03%	0.03%
	XRAY	D	0.05%	0.03%	0.03%
	XYL	C	0.28%	0.12%	0.12%
	YUM	C	0.34%	0.12%	0.12%
	ZBRA	B	0.16%	0.02%	0.02%
	ZION	D	0.06%	0.01%	0.01%

IWR Overweight 334 Positions Relative to MFUS

	Symbol	Grade	Weight
	ROST	D	0.42%
	TTD	A	0.41%
	KVUE	C	0.37%
	LNG	A	0.36%
	IQV	F	0.36%
	PCG	C	0.36%
	MCHP	F	0.35%
	ACGL	A	0.35%
	FERG	F	0.34%
	HES	D	0.33%
	AME	C	0.33%
	COR	F	0.32%
	CTSH	B	0.32%
	XEL	C	0.31%
	VRT	B	0.3%
	HUM	F	0.29%
	DDOG	B	0.29%
	VICI	C	0.29%
	DAL	C	0.28%
	VMC	D	0.28%
	CSGP	F	0.26%
	ROK	D	0.26%
	ON	F	0.26%
	WEC	B	0.26%
	VEEV	C	0.26%
	AWK	D	0.24%
	AXON	A	0.24%
	HAL	D	0.23%
	DXCM	F	0.23%
	GRMN	D	0.23%
	KEYS	B	0.23%
	FTV	C	0.23%
	SW	C	0.22%
	MSTR	B	0.22%
	GPN	F	0.22%
	FSLR	C	0.22%
	HUBS	D	0.22%
	STT	A	0.22%
	WY	C	0.21%
	DVN	F	0.21%
	RJF	B	0.2%
	AEE	A	0.2%
	NET	D	0.2%
	ZBH	F	0.19%
	CBOE	B	0.19%
	RBLX	D	0.19%
	ILMN	B	0.18%
	COO	C	0.18%
	EQT	C	0.18%
	GPC	D	0.17%
	PINS	D	0.17%
	WBD	F	0.17%
	MOH	F	0.17%
	TRU	C	0.17%
	MKL	B	0.17%
	ARE	D	0.17%
	TDY	A	0.17%
	MDB	D	0.16%
	LVS	B	0.16%
	LH	D	0.16%
	CHK	C	0.16%
	EXPE	B	0.16%
	CNP	B	0.16%
	CVNA	A	0.16%
	APTV	D	0.16%
	EG	A	0.15%
	TPL	A	0.15%
	DKNG	C	0.15%
	LYV	A	0.15%
	LUV	B	0.15%
	CTRA	D	0.15%
	ZM	B	0.15%
	CF	A	0.14%
	DOC	C	0.14%
	AMCR	C	0.14%
	TXT	F	0.14%
	PODD	C	0.14%
	J	F	0.14%
	ENTG	D	0.14%
	SWK	C	0.14%
	ENPH	F	0.13%
	GEN	A	0.13%
	TRMB	B	0.13%
	SNA	C	0.13%
	ZS	F	0.13%
	RVTY	C	0.13%
	SWKS	F	0.13%
	DT	B	0.13%
	FWONK	D	0.13%
	NTNX	C	0.12%
	BG	F	0.12%
	RNR	A	0.12%
	NTRA	A	0.12%
	WING	C	0.11%
	KMX	F	0.11%
	EXAS	C	0.11%
	DOCU	A	0.11%
	ALLE	A	0.11%
	TOST	B	0.11%
	FND	C	0.11%
	REG	C	0.11%
	NVT	C	0.1%
	SAIA	D	0.1%
	OKTA	F	0.1%
	PFGC	A	0.1%
	TECH	D	0.1%
	CRL	F	0.09%
	HAS	A	0.09%
	WYNN	B	0.09%
	Z	C	0.09%
	DUOL	B	0.09%
	KNSL	B	0.09%
	LKQ	F	0.09%
	OVV	D	0.09%
	REXR	D	0.09%
	RRX	B	0.09%
	EPAM	F	0.09%
	TWLO	B	0.09%
	FBIN	C	0.09%
	ALB	D	0.09%
	SRPT	F	0.09%
	SNX	C	0.08%
	EGP	D	0.08%
	CZR	B	0.08%
	ORI	A	0.08%
	CIEN	A	0.08%
	AFRM	C	0.08%
	MGM	D	0.08%
	PR	D	0.08%
	DAY	C	0.08%
	PRI	A	0.08%
	CAVA	B	0.08%
	GL	C	0.08%
	APA	F	0.08%
	SOLV	C	0.08%
	FRT	D	0.08%
	ROKU	C	0.08%
	CHDN	C	0.08%
	OLED	B	0.08%
	TKO	A	0.08%
	MTCH	B	0.08%
	WTRG	D	0.08%
	AFG	A	0.08%
	CNH	C	0.08%
	OWL	A	0.08%
	ONTO	B	0.08%
	NLY	C	0.08%
	MTZ	A	0.07%
	SOFI	C	0.07%
	VOYA	A	0.07%
	BRBR	A	0.07%
	SSD	B	0.07%
	CHRD	F	0.07%
	RGEN	F	0.07%
	FMC	C	0.07%
	OGE	C	0.07%
	GLOB	D	0.07%
	BRX	C	0.07%
	PAYC	D	0.07%
	MEDP	F	0.07%
	NCLH	C	0.07%
	RIVN	F	0.07%
	WEX	C	0.07%
	U	D	0.06%
	MAT	B	0.06%
	VKTX	C	0.06%
	BIO	B	0.06%
	SITE	D	0.06%
	AZEK	D	0.06%
	JAZZ	F	0.06%
	FLS	A	0.06%
	BPOP	D	0.06%
	HR	D	0.06%
	CGNX	F	0.06%
	WSC	D	0.06%
	LSCC	D	0.06%
	CART	B	0.06%
	BSY	D	0.06%
	RYAN	A	0.06%
	STAG	D	0.06%
	PNFP	B	0.06%
	PEN	D	0.06%
	PLNT	B	0.06%
	SN	A	0.06%
	PCTY	C	0.06%
	AAL	D	0.06%
	AAON	A	0.06%
	TREX	D	0.06%
	MIDD	D	0.06%
	SMAR	A	0.06%
	ITCI	D	0.06%
	ST	F	0.05%
	APPF	C	0.05%
	COLB	C	0.05%
	DOCS	A	0.05%
	LAZ	C	0.05%
	FOUR	A	0.05%
	CELH	F	0.05%
	PATH	D	0.05%
	SIRI	C	0.05%
	RITM	D	0.05%
	ALK	C	0.05%
	ACHC	F	0.05%
	VMI	B	0.05%
	ELF	F	0.05%
	DAR	F	0.05%
	OLLI	C	0.05%
	GTLB	D	0.05%
	GXO	D	0.05%
	MTDR	D	0.05%
	MTSI	B	0.05%
	DBX	C	0.05%
	ETSY	F	0.05%
	ESTC	F	0.05%
	INSP	C	0.05%
	IONS	F	0.05%
	AXS	A	0.05%
	PCOR	D	0.05%
	AZPN	A	0.05%
	STWD	C	0.05%
	FRPT	A	0.05%
	WFRD	F	0.05%
	S	C	0.05%
	LFUS	C	0.05%
	AGO	B	0.04%
	LITE	A	0.04%
	PII	D	0.04%
	ASH	F	0.04%
	EEFT	F	0.04%
	BYD	B	0.04%
	OZK	D	0.04%
	CUZ	C	0.04%
	KRC	C	0.04%
	LYFT	D	0.04%
	AL	D	0.04%
	CFLT	F	0.04%
	VNOM	A	0.04%
	LINE	F	0.04%
	HCP	A	0.04%
	FNB	D	0.04%
	ROIV	D	0.04%
	TPG	A	0.04%
	FIVE	D	0.04%
	CCCS	D	0.04%
	RH	C	0.04%
	WLK	C	0.04%
	W	C	0.04%
	RARE	D	0.04%
	AM	A	0.04%
	FOX	B	0.04%
	CIVI	F	0.04%
	IDA	D	0.04%
	BILL	D	0.04%
	LCID	F	0.03%
	ZG	C	0.03%
	TNL	B	0.03%
	ZI	F	0.03%
	PEGA	B	0.03%
	NWS	D	0.03%
	AMTM	D	0.03%
	NSA	D	0.03%
	NVST	D	0.03%
	MPW	C	0.03%
	YETI	C	0.03%
	PRGO	F	0.03%
	LBTYA	C	0.03%
	DNB	D	0.03%
	COTY	F	0.03%
	LBTYK	C	0.03%
	HIW	C	0.03%
	BROS	F	0.03%
	GTES	C	0.03%
	CHH	A	0.03%
	IRDM	C	0.03%
	EPR	C	0.03%
	GFS	F	0.03%
	IAC	C	0.03%
	MSGS	A	0.03%
	BIRK	F	0.02%
	QS	F	0.02%
	IPGP	D	0.02%
	VSTS	D	0.02%
	FIVN	F	0.02%
	ADT	D	0.02%
	HAYW	C	0.02%
	RCM	B	0.02%
	TXG	F	0.02%
	ENOV	F	0.02%
	BOKF	B	0.02%
	MP	C	0.02%
	LLYVK	B	0.02%
	QDEL	D	0.02%
	HHH	C	0.02%
	CNXC	F	0.02%
	DV	F	0.02%
	SHC	C	0.02%
	AZTA	F	0.02%
	RNG	F	0.02%
	AGR	C	0.02%
	NCNO	F	0.02%
	VAC	D	0.02%
	CLVT	D	0.02%
	CXT	F	0.02%
	ALGM	F	0.02%
	PENN	D	0.02%
	COLM	B	0.02%
	FHB	D	0.02%
	APLS	F	0.02%
	TFSL	D	0.01%
	NFE	F	0.01%
	LOAR	B	0.01%
	UWMC	D	0.01%
	UI	B	0.01%
	DJT	F	0.01%
	AS	B	0.01%
	LLYVA	B	0.01%
	PYCR	D	0.01%
	CNA	D	0.01%
	ALAB	C	0.01%
	LBRDA	C	0.01%
	CERT	F	0.01%
	CAR	D	0.01%
	TRIP	D	0.01%
	INFA	D	0.01%
	UA	B	0.01%
	FWONA	C	0.01%
	GO	F	0.01%
	FTRE	F	0.01%
	UAA	B	0.01%
	REYN	D	0.01%
	SEG	F	0.0%
	PARAA	D	0.0%
	GRAL	F	0.0%
	PLTK	C	0.0%

IWR Underweight 344 Positions Relative to MFUS

	Symbol	Grade	Weight
	LLY	D	-2.87%
	META	A	-2.37%
	BRK.A	B	-2.37%
	AVGO	B	-1.68%
	WMT	A	-1.68%
	NVDA	B	-1.64%
	AMZN	C	-1.6%
	ABBV	C	-1.56%
	ORCL	A	-1.38%
	COST	C	-1.36%
	JNJ	D	-1.28%
	KO	C	-1.16%
	IBM	A	-1.14%
	VZ	C	-1.11%
	PG	D	-1.04%
	AMGN	D	-1.01%
	MRK	F	-1.0%
	AAPL	C	-0.97%
	JPM	C	-0.88%
	PM	D	-0.83%
	LMT	A	-0.82%
	QCOM	D	-0.8%
	UNH	B	-0.79%
	GILD	A	-0.79%
	TGT	C	-0.77%
	PEP	F	-0.77%
	T	B	-0.74%
	WFC	B	-0.73%
	CVS	D	-0.71%
	MO	D	-0.66%
	PFE	D	-0.64%
	C	B	-0.63%
	MMM	C	-0.63%
	GE	B	-0.61%
	CSCO	A	-0.61%
	HD	A	-0.6%
	PGR	B	-0.6%
	AMAT	C	-0.59%
	MCD	A	-0.55%
	UNP	F	-0.54%
	MCK	F	-0.5%
	REGN	D	-0.49%
	NFLX	A	-0.46%
	XOM	A	-0.42%
	CL	D	-0.41%
	BAC	B	-0.39%
	TJX	D	-0.38%
	TMUS	A	-0.38%
	NOC	B	-0.38%
	MPC	D	-0.36%
	CVX	B	-0.36%
	BMY	A	-0.36%
	BKNG	B	-0.36%
	GS	B	-0.35%
	LOW	C	-0.34%
	AIG	C	-0.34%
	TMO	D	-0.33%
	MET	A	-0.32%
	GM	D	-0.32%
	NOW	B	-0.31%
	TXN	C	-0.3%
	HCA	C	-0.3%
	ICE	A	-0.3%
	AZO	D	-0.29%
	DHR	D	-0.28%
	KLAC	B	-0.28%
	V	B	-0.28%
	MA	A	-0.27%
	SPGI	C	-0.27%
	MDLZ	D	-0.26%
	WM	B	-0.26%
	UPS	D	-0.25%
	NEE	C	-0.25%
	GD	C	-0.24%
	COF	A	-0.24%
	ANF	D	-0.24%
	RTX	A	-0.23%
	UBER	C	-0.23%
	AON	A	-0.23%
	PSX	D	-0.23%
	ISRG	C	-0.23%
	ACN	B	-0.23%
	NEM	C	-0.22%
	PANW	B	-0.22%
	VRTX	D	-0.22%
	SHW	C	-0.22%
	AXP	A	-0.21%
	BSX	A	-0.2%
	SFM	A	-0.2%
	TRV	B	-0.2%
	ELV	F	-0.2%
	CAT	A	-0.2%
	CMG	C	-0.2%
	CTAS	C	-0.19%
	LRCX	D	-0.19%
	MMC	D	-0.19%
	INTC	D	-0.19%
	ORLY	A	-0.19%
	MS	A	-0.18%
	KMB	D	-0.18%
	MSI	A	-0.18%
	CB	A	-0.17%
	TDG	A	-0.17%
	BLK	A	-0.17%
	CMCSA	B	-0.16%
	VLO	F	-0.16%
	KHC	F	-0.16%
	AMT	D	-0.16%
	CI	D	-0.15%
	F	D	-0.15%
	MU	D	-0.15%
	KKR	A	-0.14%
	CME	A	-0.14%
	DUK	C	-0.14%
	ANET	A	-0.14%
	CEG	A	-0.13%
	RSG	D	-0.13%
	PH	A	-0.13%
	SO	A	-0.13%
	MCO	D	-0.12%
	BDX	C	-0.12%
	PNC	C	-0.11%
	CSX	D	-0.11%
	BX	C	-0.11%
	PYPL	A	-0.11%
	APH	D	-0.11%
	WELL	C	-0.11%
	USB	C	-0.1%
	ITW	C	-0.1%
	CRS	B	-0.1%
	PSA	C	-0.1%
	ADP	A	-0.1%
	AEO	C	-0.09%
	AEP	C	-0.09%
	GPI	C	-0.09%
	TMHC	C	-0.09%
	JXN	A	-0.09%
	DASH	A	-0.09%
	SBUX	B	-0.09%
	SLG	C	-0.08%
	SRE	C	-0.08%
	TFC	D	-0.08%
	CPRT	B	-0.08%
	ADSK	B	-0.08%
	KDP	C	-0.08%
	ECL	C	-0.08%
	NSC	C	-0.07%
	NSIT	B	-0.07%
	COP	D	-0.07%
	UFPI	C	-0.07%
	MTH	C	-0.07%
	NKE	D	-0.07%
	HCC	C	-0.07%
	BCC	C	-0.07%
	MLI	B	-0.07%
	MNST	D	-0.07%
	EMR	B	-0.07%
	D	A	-0.07%
	CALM	A	-0.07%
	ABG	D	-0.07%
	ZTS	C	-0.06%
	CNX	A	-0.06%
	STZ	D	-0.06%
	FTNT	A	-0.06%
	ERIE	A	-0.06%
	TPH	C	-0.06%
	JCI	C	-0.06%
	MMS	C	-0.06%
	ROP	D	-0.06%
	MHO	C	-0.05%
	URBN	F	-0.05%
	HBI	B	-0.05%
	COOP	B	-0.05%
	LUMN	C	-0.05%
	TEX	F	-0.05%
	ATGE	D	-0.05%
	CBT	B	-0.05%
	BTU	B	-0.05%
	KTB	C	-0.05%
	SKYW	B	-0.05%
	CARR	A	-0.05%
	CMC	D	-0.05%
	LANC	F	-0.04%
	KBH	D	-0.04%
	TDS	C	-0.04%
	DBRG	D	-0.04%
	CVLT	B	-0.04%
	TRN	C	-0.04%
	BDC	A	-0.04%
	ASO	D	-0.04%
	ADBE	F	-0.04%
	SLVM	C	-0.04%
	HUBG	D	-0.04%
	MAC	B	-0.04%
	GATX	F	-0.04%
	FLEX	B	-0.04%
	MAR	A	-0.04%
	AROC	B	-0.04%
	TGNA	B	-0.04%
	CRBG	B	-0.04%
	SCHW	D	-0.04%
	ABM	D	-0.04%
	CNO	B	-0.04%
	FL	F	-0.04%
	GVA	A	-0.04%
	SIG	C	-0.04%
	MOG.A	C	-0.04%
	BKE	B	-0.03%
	APAM	B	-0.03%
	FHI	A	-0.03%
	PLXS	A	-0.03%
	THS	D	-0.03%
	DRH	B	-0.03%
	STC	D	-0.03%
	LZB	D	-0.03%
	UNF	A	-0.03%
	DELL	C	-0.03%
	ADNT	F	-0.03%
	DK	F	-0.03%
	BKU	D	-0.03%
	VC	F	-0.03%
	OI	D	-0.03%
	GMS	B	-0.03%
	APLE	B	-0.03%
	MATX	C	-0.03%
	PRG	C	-0.03%
	GNW	A	-0.03%
	MC	B	-0.03%
	SM	D	-0.03%
	GBX	C	-0.03%
	AVA	D	-0.03%
	SHOO	A	-0.03%
	RUSHA	D	-0.03%
	GEO	D	-0.03%
	PRIM	A	-0.03%
	SEM	D	-0.03%
	SANM	D	-0.03%
	GES	F	-0.02%
	BHE	C	-0.02%
	PHIN	D	-0.02%
	DAN	D	-0.02%
	DNOW	F	-0.02%
	VSCO	C	-0.02%
	HP	D	-0.02%
	SATS	C	-0.02%
	LXP	D	-0.02%
	JBLU	B	-0.02%
	ODP	F	-0.02%
	HNI	B	-0.02%
	APOG	B	-0.02%
	VSH	F	-0.02%
	DORM	C	-0.02%
	ANDE	D	-0.02%
	OSIS	C	-0.02%
	NAVI	D	-0.02%
	MCY	B	-0.02%
	YELP	D	-0.02%
	PMT	B	-0.02%
	EPC	F	-0.02%
	NSP	F	-0.02%
	VSTO	B	-0.02%
	NTCT	C	-0.02%
	RLJ	D	-0.02%
	GHC	A	-0.02%
	SXT	C	-0.02%
	XHR	A	-0.02%
	CXW	F	-0.02%
	PBF	F	-0.02%
	AIR	C	-0.02%
	HAE	F	-0.02%
	SBH	B	-0.02%
	GEF	B	-0.02%
	PFSI	C	-0.02%
	ACA	C	-0.02%
	ORA	C	-0.02%
	PDCO	F	-0.02%
	WERN	D	-0.02%
	PNM	B	-0.02%
	SCL	D	-0.01%
	MLKN	F	-0.01%
	ARCH	D	-0.01%
	KALU	D	-0.01%
	ECPG	F	-0.01%
	GIII	C	-0.01%
	SSB	C	-0.01%
	UVV	D	-0.01%
	ARI	F	-0.01%
	HTH	F	-0.01%
	IGT	F	-0.01%
	WGO	D	-0.01%
	CNXN	C	-0.01%
	ALEX	D	-0.01%
	RDN	D	-0.01%
	FDP	C	-0.01%
	OUT	C	-0.01%
	IMKTA	F	-0.01%
	CNS	C	-0.01%
	WOR	F	-0.01%
	SVC	D	-0.01%
	IDCC	A	-0.01%
	SR	D	-0.01%
	SWX	C	-0.01%
	SIGI	D	-0.01%
	WAFD	D	-0.01%
	SHO	B	-0.01%
	CENTA	F	-0.01%
	PECO	C	-0.01%
	JBGS	C	-0.01%
	FLR	B	-0.01%
	WMK	D	-0.01%
	JELD	D	-0.01%
	CADE	B	-0.01%
	ONB	D	-0.01%
	BRC	C	-0.01%
	XRX	D	-0.01%
	FELE	C	-0.01%
	STRA	F	-0.01%
	CSGS	B	-0.01%
	TTMI	D	-0.01%
	KN	B	-0.01%
	DY	C	-0.01%
	CVI	D	-0.01%
	OMI	F	-0.01%
	LADR	D	-0.01%
	NNI	B	-0.01%
	AMWD	C	-0.01%
	GOLF	F	-0.01%
	DEI	A	-0.01%
	SAH	D	-0.01%
	IOSP	F	-0.01%
	TNET	D	-0.01%
	REZI	D	-0.01%
	SLB	D	-0.01%
	PTEN	F	-0.01%
	ICUI	B	-0.01%
	MUR	F	-0.01%
	HE	F	-0.01%
	GT	F	-0.01%
	PSMT	A	-0.01%
	SCS	D	-0.01%
	ESNT	A	-0.01%
	LAUR	C	-0.01%
	SCCO	B	-0.0%
	NOMD	D	-0.0%

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

MFUS: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Asset Management Business Services Packaged Foods Software - Application Specialty Chemicals Specialty Retail Utilities - Regulated Electric Capital Markets Aerospace & Defense Credit Services Insurance - Property & Casualty REIT - Diversified Building Materials Engineering & Construction Medical Instruments & Supplies Packaging & Containers Information Technology Services REIT - Residential

Keywords: S&P 500 Nasdaq 100 Natural Gas Insurance Chemical Aerospace Banking Real Estate Investment Trust Bank Computing Mining Electricity Electronics Telecommunications Transport Beverage Clothing Dow Jones Component Retail Store Retailing