IWS vs. FAB ETF Comparison

Comparison of iShares Russell Mid-cap Value ETF (IWS) to First Trust Multi Cap Value AlphaDEX Fund (FAB)

IWS

iShares Russell Mid-cap Value ETF

IWS Description

The investment seeks to track the investment results of an index composed of 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 Midcap Value Index (the "underlying index"), which measures the performance of the mid-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$134.29

Average Daily Volume

266,918

Number of Holdings ^*

706

* may have additional holdings in another (foreign) market

FAB

First Trust Multi Cap Value AlphaDEX Fund

FAB Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Multi Cap Value Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Composite 1500(R) Value Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$86.48

Average Daily Volume

2,797

Number of Holdings ^*

665

* may have additional holdings in another (foreign) market

Performance

Period	IWS	FAB
30 Days	0.25%	1.10%
60 Days	3.66%	4.30%
90 Days	6.80%	6.16%
12 Months	28.99%	25.17%

292 Overlapping Holdings

Symbol	Grade	Weight in IWS	Weight in FAB	Overlap
AAP	D	0.02%	0.18%	0.02%
ADM	D	0.27%	0.38%	0.27%
AEE	A	0.26%	0.36%	0.26%
AFG	A	0.11%	0.05%	0.05%
AFL	C	0.66%	0.25%	0.25%
AGCO	D	0.06%	0.08%	0.06%
AGO	A	0.05%	0.25%	0.05%
AIZ	A	0.12%	0.09%	0.09%
AKAM	F	0.15%	0.22%	0.15%
AL	A	0.05%	0.23%	0.05%
ALK	A	0.07%	0.15%	0.07%
ALLY	C	0.1%	0.36%	0.1%
AMG	A	0.06%	0.23%	0.06%
AMKR	F	0.03%	0.15%	0.03%
AN	D	0.05%	0.12%	0.05%
APA	F	0.09%	0.2%	0.09%
APTV	F	0.17%	0.33%	0.17%
AR	B	0.09%	0.09%	0.09%
ARE	D	0.21%	0.16%	0.16%
ARW	D	0.07%	0.15%	0.07%
ASH	F	0.04%	0.12%	0.04%
ATO	A	0.23%	0.36%	0.23%
AVT	C	0.06%	0.17%	0.06%
AWK	C	0.29%	0.08%	0.08%
AXS	A	0.07%	0.14%	0.07%
BBWI	C	0.07%	0.17%	0.07%
BBY	C	0.21%	0.23%	0.21%
BC	D	0.06%	0.12%	0.06%
BEN	C	0.07%	0.18%	0.07%
BERY	D	0.08%	0.14%	0.08%
BG	D	0.13%	0.4%	0.13%
BHF	A	0.03%	0.03%	0.03%
BIIB	F	0.27%	0.22%	0.22%
BJ	B	0.13%	0.05%	0.05%
BKR	A	0.47%	0.3%	0.3%
BLDR	D	0.21%	0.24%	0.21%
BOKF	A	0.03%	0.09%	0.03%
BPOP	C	0.07%	0.04%	0.04%
BWA	A	0.08%	0.2%	0.08%
BYD	A	0.06%	0.15%	0.06%
CAG	F	0.15%	0.07%	0.07%
CAR	C	0.01%	0.06%	0.01%
CC	C	0.03%	0.02%	0.02%
CE	F	0.07%	0.24%	0.07%
CF	A	0.17%	0.35%	0.17%
CFG	A	0.22%	0.4%	0.22%
CHRD	F	0.09%	0.22%	0.09%
CHTR	B	0.4%	0.31%	0.31%
CINF	A	0.25%	0.48%	0.25%
CIVI	F	0.04%	0.22%	0.04%
CLF	F	0.05%	0.15%	0.05%
CMA	A	0.1%	0.1%	0.1%
CMI	A	0.53%	0.1%	0.1%
CMS	C	0.22%	0.17%	0.17%
CNC	F	0.34%	0.27%	0.27%
CNP	A	0.21%	0.36%	0.21%
CNXC	F	0.02%	0.17%	0.02%
COLB	A	0.07%	0.15%	0.07%
COLM	B	0.03%	0.09%	0.03%
CPB	D	0.09%	0.08%	0.08%
CRI	D	0.02%	0.06%	0.02%
CRL	D	0.12%	0.09%	0.09%
CTRA	A	0.2%	0.46%	0.2%
CTSH	B	0.43%	0.37%	0.37%
CTVA	D	0.44%	0.08%	0.08%
CUZ	B	0.05%	0.09%	0.05%
CWEN	D	0.03%	0.02%	0.02%
CWEN	D	0.01%	0.02%	0.01%
CXT	D	0.03%	0.05%	0.03%
CZR	F	0.1%	0.04%	0.04%
DAL	A	0.43%	0.56%	0.43%
DAR	B	0.07%	0.19%	0.07%
DD	D	0.38%	0.08%	0.08%
DDS	B	0.01%	0.19%	0.01%
DG	F	0.18%	0.32%	0.18%
DGX	A	0.19%	0.26%	0.19%
DHI	D	0.54%	0.3%	0.3%
DINO	D	0.07%	0.21%	0.07%
DNB	B	0.04%	0.05%	0.04%
DOC	D	0.17%	0.16%	0.16%
DOW	F	0.35%	0.21%	0.21%
DRI	B	0.1%	0.18%	0.1%
DTE	C	0.26%	0.24%	0.24%
DVN	F	0.27%	0.44%	0.27%
DXC	C	0.04%	0.18%	0.04%
EBAY	D	0.34%	0.24%	0.24%
ED	D	0.37%	0.32%	0.32%
EG	D	0.14%	0.41%	0.14%
EIX	C	0.34%	0.16%	0.16%
EMN	C	0.13%	0.12%	0.12%
ENOV	C	0.03%	0.05%	0.03%
EPAM	B	0.13%	0.05%	0.05%
EQR	C	0.3%	0.25%	0.25%
EQT	A	0.25%	0.41%	0.25%
ETR	A	0.34%	0.39%	0.34%
EVRG	A	0.15%	0.17%	0.15%
EXC	C	0.41%	0.33%	0.33%
EXPD	D	0.15%	0.08%	0.08%
FAF	C	0.07%	0.04%	0.04%
FANG	D	0.37%	0.37%	0.37%
FBIN	D	0.11%	0.04%	0.04%
FE	C	0.26%	0.16%	0.16%
FHB	A	0.04%	0.06%	0.04%
FHN	A	0.12%	0.17%	0.12%
FITB	A	0.34%	0.28%	0.28%
FIVE	F	0.01%	0.09%	0.01%
FMC	F	0.08%	0.18%	0.08%
FNB	A	0.06%	0.15%	0.06%
FNF	C	0.17%	0.17%	0.17%
FOXA	A	0.11%	0.49%	0.11%
FTV	D	0.29%	0.08%	0.08%
G	A	0.09%	0.2%	0.09%
GIS	D	0.4%	0.15%	0.15%
GL	B	0.11%	0.13%	0.11%
GO	C	0.02%	0.05%	0.02%
GPC	D	0.18%	0.15%	0.15%
GXO	B	0.08%	0.05%	0.05%
HAL	C	0.28%	0.45%	0.28%
HAYW	A	0.02%	0.03%	0.02%
HBAN	A	0.27%	0.42%	0.27%
HIG	C	0.37%	0.35%	0.35%
HII	F	0.09%	0.1%	0.09%
HIW	D	0.04%	0.09%	0.04%
HOG	D	0.04%	0.18%	0.04%
HOLX	D	0.19%	0.08%	0.08%
HPE	B	0.31%	0.46%	0.31%
HPQ	B	0.3%	0.18%	0.18%
HRL	D	0.1%	0.24%	0.1%
HSIC	D	0.09%	0.04%	0.04%
HST	D	0.14%	0.17%	0.14%
HSY	F	0.24%	0.16%	0.16%
HUM	F	0.38%	0.16%	0.16%
IAC	D	0.04%	0.04%	0.04%
IDA	A	0.06%	0.1%	0.06%
IEX	B	0.19%	0.09%	0.09%
INGR	B	0.11%	0.14%	0.11%
IP	A	0.22%	0.3%	0.22%
IPG	F	0.12%	0.08%	0.08%
IPGP	D	0.02%	0.07%	0.02%
IVZ	B	0.07%	0.04%	0.04%
J	D	0.2%	0.09%	0.09%
JAZZ	A	0.08%	0.19%	0.08%
JBHT	B	0.17%	0.19%	0.17%
JBL	C	0.15%	0.14%	0.14%
JEF	A	0.1%	0.05%	0.05%
JWN	A	0.02%	0.09%	0.02%
KEY	A	0.19%	0.2%	0.19%
KEYS	C	0.31%	0.08%	0.08%
KIM	A	0.18%	0.19%	0.18%
KMI	A	0.56%	0.42%	0.42%
KNX	B	0.1%	0.09%	0.09%
KR	B	0.43%	0.36%	0.36%
KRC	C	0.05%	0.18%	0.05%
KSS	F	0.02%	0.11%	0.02%
L	A	0.16%	0.37%	0.16%
LAD	A	0.11%	0.2%	0.11%
LBRDK	B	0.09%	0.2%	0.09%
LEA	F	0.06%	0.19%	0.06%
LEN	D	0.45%	0.4%	0.4%
LEN	D	0.02%	0.4%	0.02%
LFUS	D	0.07%	0.04%	0.04%
LH	B	0.22%	0.09%	0.09%
LHX	B	0.53%	0.09%	0.09%
LKQ	D	0.11%	0.13%	0.11%
LNC	A	0.06%	0.19%	0.06%
LNG	A	0.25%	0.41%	0.25%
LNT	A	0.16%	0.25%	0.16%
LPX	A	0.02%	0.09%	0.02%
LSTR	D	0.07%	0.04%	0.04%
LUV	A	0.21%	0.28%	0.21%
LYB	F	0.24%	0.38%	0.24%
M	C	0.05%	0.17%	0.05%
MAA	A	0.2%	0.08%	0.08%
MAS	D	0.19%	0.08%	0.08%
MAT	C	0.07%	0.04%	0.04%
MDU	D	0.04%	0.16%	0.04%
MGM	D	0.09%	0.04%	0.04%
MIDD	D	0.08%	0.08%	0.08%
MOH	F	0.08%	0.16%	0.08%
MOS	D	0.1%	0.17%	0.1%
MSM	C	0.04%	0.09%	0.04%
MTB	A	0.38%	0.31%	0.31%
MTDR	C	0.07%	0.26%	0.07%
MTG	C	0.07%	0.21%	0.07%
NDSN	B	0.16%	0.08%	0.08%
NFE	F	0.0%	0.22%	0.0%
NFG	A	0.06%	0.17%	0.06%
NI	A	0.17%	0.27%	0.17%
NOV	D	0.07%	0.22%	0.07%
NUE	D	0.41%	0.43%	0.41%
NVR	D	0.29%	0.17%	0.17%
NWSA	B	0.12%	0.19%	0.12%
NXST	D	0.03%	0.13%	0.03%
OC	A	0.18%	0.39%	0.18%
OGE	A	0.09%	0.13%	0.09%
OGN	F	0.04%	0.1%	0.04%
OKE	A	0.68%	0.21%	0.21%
OLN	F	0.06%	0.11%	0.06%
OMC	C	0.22%	0.09%	0.09%
OMF	A	0.07%	0.15%	0.07%
ON	F	0.33%	0.32%	0.32%
ORI	A	0.1%	0.09%	0.09%
OSK	C	0.08%	0.24%	0.08%
OVV	C	0.12%	0.25%	0.12%
OZK	A	0.05%	0.19%	0.05%
PAG	A	0.03%	0.13%	0.03%
PB	A	0.08%	0.1%	0.08%
PFG	C	0.21%	0.09%	0.09%
PFGC	B	0.12%	0.05%	0.05%
PHM	D	0.3%	0.39%	0.3%
PII	F	0.04%	0.1%	0.04%
PINC	B	0.03%	0.14%	0.03%
PK	C	0.03%	0.13%	0.03%
PKG	B	0.23%	0.19%	0.19%
PNFP	A	0.1%	0.05%	0.05%
PNW	A	0.11%	0.18%	0.11%
POST	D	0.06%	0.12%	0.06%
PPG	F	0.32%	0.16%	0.16%
PPL	A	0.27%	0.26%	0.26%
PRGO	C	0.04%	0.04%	0.04%
PRU	A	0.47%	0.18%	0.18%
PVH	C	0.06%	0.22%	0.06%
R	A	0.08%	0.2%	0.08%
REYN	D	0.02%	0.08%	0.02%
RF	A	0.26%	0.29%	0.26%
RGA	A	0.16%	0.18%	0.16%
RHI	B	0.08%	0.05%	0.05%
RJF	A	0.33%	0.23%	0.23%
RNR	D	0.15%	0.2%	0.15%
RRC	B	0.09%	0.19%	0.09%
RS	B	0.2%	0.47%	0.2%
RYN	D	0.05%	0.04%	0.04%
SAM	B	0.02%	0.03%	0.02%
SEB	F	0.01%	0.11%	0.01%
SEE	B	0.03%	0.04%	0.03%
SEIC	A	0.09%	0.1%	0.09%
SJM	F	0.13%	0.12%	0.12%
SKX	D	0.08%	0.08%	0.08%
SLGN	B	0.05%	0.09%	0.05%
SLM	A	0.05%	0.09%	0.05%
SNA	A	0.2%	0.32%	0.2%
SNDR	B	0.02%	0.08%	0.02%
SNX	D	0.1%	0.12%	0.1%
SOLV	C	0.11%	0.17%	0.11%
SON	D	0.05%	0.12%	0.05%
SPB	C	0.03%	0.07%	0.03%
SSNC	D	0.17%	0.17%	0.17%
STLD	B	0.24%	0.48%	0.24%
STT	A	0.31%	0.27%	0.27%
STWD	D	0.07%	0.04%	0.04%
SWKS	F	0.15%	0.3%	0.15%
SYF	A	0.27%	0.57%	0.27%
SYY	D	0.16%	0.24%	0.16%
TAP	A	0.11%	0.23%	0.11%
TDY	B	0.24%	0.28%	0.24%
THO	B	0.06%	0.13%	0.06%
TKR	F	0.05%	0.08%	0.05%
TOL	B	0.17%	0.43%	0.17%
TPR	A	0.13%	0.05%	0.05%
TROW	A	0.28%	0.48%	0.28%
TSN	A	0.18%	0.19%	0.18%
TTC	D	0.1%	0.04%	0.04%
TXT	D	0.18%	0.25%	0.18%
UAL	A	0.31%	0.7%	0.31%
UGI	C	0.05%	0.2%	0.05%
UHAL	D	0.0%	0.07%	0.0%
UHAL	D	0.04%	0.07%	0.04%
UHS	D	0.13%	0.15%	0.13%
ULTA	D	0.03%	0.25%	0.03%
UNM	A	0.14%	0.21%	0.14%
VAC	B	0.04%	0.13%	0.04%
VNT	C	0.07%	0.1%	0.07%
VOYA	A	0.09%	0.04%	0.04%
VSTS	F	0.02%	0.09%	0.02%
VTRS	A	0.17%	0.38%	0.17%
WAL	A	0.11%	0.05%	0.05%
WBS	A	0.11%	0.17%	0.11%
WCC	A	0.1%	0.16%	0.1%
WEC	A	0.33%	0.17%	0.17%
WHR	A	0.06%	0.14%	0.06%
WLK	F	0.05%	0.15%	0.05%
WPC	D	0.13%	0.08%	0.08%
WRB	A	0.19%	0.09%	0.09%
WTFC	A	0.09%	0.1%	0.09%
WTRG	C	0.11%	0.09%	0.09%
WU	F	0.03%	0.11%	0.03%
WY	D	0.25%	0.08%	0.08%
XEL	A	0.41%	0.37%	0.37%
YETI	F	0.03%	0.05%	0.03%
ZBH	C	0.24%	0.35%	0.24%
ZION	A	0.09%	0.16%	0.09%
ZM	B	0.23%	0.21%	0.21%

IWS Overweight 414 Positions Relative to FAB

Symbol	Grade	Weight
WMB	A	0.74%
DLR	A	0.64%
AJG	A	0.64%
BK	A	0.62%
FIS	B	0.54%
O	D	0.54%
CCI	D	0.5%
KVUE	A	0.49%
PCG	A	0.48%
URI	B	0.48%
AME	A	0.48%
SPG	A	0.47%
HWM	A	0.47%
ALL	A	0.47%
DFS	A	0.47%
EA	A	0.46%
PEG	C	0.46%
IR	A	0.45%
CBRE	B	0.45%
OTIS	D	0.44%
MSTR	B	0.43%
A	D	0.43%
MCHP	F	0.42%
FERG	D	0.42%
ACGL	C	0.4%
GLW	B	0.4%
MLM	B	0.39%
ROST	D	0.39%
RCL	A	0.38%
IQV	F	0.38%
EXR	C	0.38%
WAB	B	0.38%
GEHC	D	0.37%
GRMN	B	0.36%
AVB	A	0.36%
PWR	A	0.36%
WTW	B	0.35%
NDAQ	A	0.35%
VICI	C	0.35%
CSGP	F	0.34%
XYL	D	0.33%
PAYX	B	0.33%
TTWO	A	0.33%
HLT	A	0.32%
ANSS	B	0.32%
GPN	B	0.31%
ROK	A	0.31%
VMC	B	0.31%
MTD	F	0.3%
DOV	A	0.3%
VTR	C	0.29%
EFX	F	0.29%
RMD	C	0.29%
LDOS	C	0.29%
SW	A	0.29%
FCNCA	A	0.28%
CHD	A	0.28%
HUBB	B	0.27%
IFF	D	0.26%
YUM	D	0.26%
CCL	A	0.26%
SQ	A	0.26%
SBAC	D	0.26%
ILMN	C	0.26%
WDC	F	0.25%
WBD	B	0.24%
EXE	A	0.23%
NTRS	A	0.23%
K	B	0.23%
ES	C	0.23%
STE	D	0.23%
COO	D	0.22%
HOOD	A	0.22%
INVH	D	0.22%
FSLR	F	0.22%
CBOE	D	0.22%
MSCI	A	0.21%
ESS	A	0.21%
TRU	D	0.21%
MKC	D	0.21%
WSO	A	0.2%
BALL	D	0.2%
CVNA	A	0.19%
PNR	A	0.19%
BAX	F	0.19%
TRMB	A	0.19%
UTHR	B	0.19%
CSL	B	0.19%
IBKR	A	0.19%
MKL	A	0.18%
USFD	B	0.17%
AVTR	F	0.17%
SUI	D	0.17%
THC	C	0.17%
MRO	A	0.17%
ZBRA	B	0.17%
GEN	B	0.17%
EME	B	0.16%
COHR	B	0.16%
VRSN	D	0.16%
UDR	C	0.16%
GGG	A	0.16%
CW	B	0.16%
AMCR	C	0.16%
IRM	D	0.16%
ACM	B	0.16%
RVTY	D	0.16%
BRO	B	0.16%
REG	A	0.15%
SWK	F	0.15%
HES	B	0.15%
EWBC	A	0.15%
FFIV	B	0.15%
NTAP	D	0.15%
VLTO	D	0.15%
INCY	B	0.14%
ITT	A	0.14%
CPT	D	0.14%
CACI	C	0.14%
ALLE	D	0.14%
CASY	B	0.14%
CHRW	A	0.14%
TWLO	A	0.14%
BMRN	F	0.14%
JNPR	D	0.14%
NVT	B	0.14%
BXP	D	0.14%
GLPI	D	0.14%
JKHY	D	0.14%
ELS	B	0.14%
RPM	A	0.14%
CLH	C	0.14%
CDW	F	0.14%
ATR	B	0.13%
RRX	B	0.13%
Z	A	0.13%
FDS	A	0.13%
ALB	C	0.13%
NRG	B	0.13%
TECH	D	0.13%
CAH	B	0.13%
NTNX	A	0.13%
FTI	A	0.13%
SCI	B	0.13%
DLTR	F	0.13%
AMH	C	0.13%
CTLT	C	0.12%
BLD	F	0.12%
WWD	B	0.12%
AFRM	A	0.12%
FWONK	B	0.12%
CUBE	C	0.12%
CCK	D	0.12%
DAY	B	0.12%
KMX	B	0.12%
EVR	A	0.12%
AA	A	0.12%
SOFI	A	0.12%
SF	A	0.12%
CG	B	0.12%
TTEK	D	0.11%
RGLD	C	0.11%
NLY	C	0.11%
AYI	A	0.11%
EHC	B	0.11%
MKTX	C	0.11%
OHI	C	0.11%
AVY	D	0.11%
RPRX	F	0.11%
ARMK	C	0.11%
CIEN	B	0.11%
PRI	A	0.11%
DKS	D	0.11%
DPZ	C	0.11%
ALSN	B	0.11%
DOX	D	0.11%
GWRE	B	0.1%
GPK	D	0.1%
RIVN	F	0.1%
KBR	D	0.1%
JLL	C	0.1%
HLI	A	0.1%
AXTA	A	0.1%
WAT	B	0.1%
RL	B	0.1%
PTC	B	0.1%
AOS	F	0.1%
NYT	D	0.1%
GMED	A	0.1%
RBC	A	0.1%
BWXT	A	0.1%
MTZ	B	0.1%
TFX	F	0.1%
CNH	D	0.1%
X	D	0.1%
BRBR	A	0.1%
TW	B	0.1%
REXR	F	0.1%
WST	C	0.1%
GME	C	0.1%
DCI	B	0.1%
FRT	B	0.1%
DTM	A	0.1%
AES	F	0.1%
MTCH	F	0.09%
FLS	A	0.09%
LW	C	0.09%
WYNN	D	0.09%
ROKU	D	0.09%
ACI	C	0.09%
VNO	B	0.09%
SNV	A	0.09%
CFR	A	0.09%
TKO	C	0.09%
CART	C	0.09%
CBSH	A	0.09%
LAMR	D	0.09%
AAL	B	0.09%
LECO	C	0.09%
APG	C	0.09%
FYBR	C	0.09%
EGP	D	0.09%
FICO	A	0.09%
COIN	A	0.09%
BRX	A	0.09%
CR	A	0.09%
CGNX	D	0.08%
GNTX	C	0.08%
BIO	C	0.08%
FR	D	0.08%
AGNC	C	0.08%
FCN	F	0.08%
ATI	D	0.08%
SSD	D	0.08%
MKSI	D	0.08%
VFC	B	0.08%
KEX	A	0.08%
ESAB	B	0.08%
COKE	C	0.08%
FAST	B	0.08%
CHE	D	0.08%
ADC	A	0.08%
MHK	D	0.08%
PR	C	0.08%
MTSI	B	0.08%
SAIC	D	0.08%
NNN	D	0.08%
OLLI	D	0.07%
KD	A	0.07%
S	B	0.07%
MSA	D	0.07%
SIRI	C	0.07%
ONTO	F	0.07%
ESI	B	0.07%
WBA	F	0.07%
COLD	F	0.07%
PARA	C	0.07%
AZPN	A	0.07%
HRB	D	0.07%
QRVO	F	0.07%
DOCS	C	0.07%
RLI	A	0.07%
FND	F	0.07%
HR	C	0.07%
WH	A	0.07%
WSM	F	0.07%
RGEN	D	0.07%
STAG	D	0.07%
OKTA	D	0.07%
VMI	B	0.07%
WEX	F	0.07%
GWW	A	0.07%
ALGN	D	0.07%
ELAN	C	0.07%
WSC	F	0.06%
PSN	C	0.06%
CCCS	A	0.06%
FOX	A	0.06%
SN	C	0.06%
RITM	C	0.06%
CRUS	F	0.06%
LITE	A	0.06%
EXAS	F	0.06%
GNRC	B	0.06%
THG	A	0.06%
BFAM	F	0.06%
JHG	A	0.06%
H	B	0.06%
WMS	F	0.06%
BILL	A	0.06%
SAIA	B	0.06%
AMTM	D	0.05%
LINE	F	0.05%
OLED	F	0.05%
GTES	B	0.05%
TPG	B	0.05%
SITE	D	0.05%
GFS	C	0.05%
GAP	C	0.05%
PAYC	B	0.05%
DLB	D	0.05%
EEFT	C	0.05%
AWI	A	0.05%
DBX	C	0.05%
WTM	A	0.05%
AMP	A	0.05%
ST	F	0.05%
CROX	F	0.05%
HXL	F	0.05%
FRPT	B	0.05%
ROIV	D	0.05%
AM	A	0.04%
LBTYK	A	0.04%
ZG	A	0.04%
HUN	F	0.04%
LBTYA	F	0.04%
MASI	A	0.04%
U	F	0.04%
LOPE	B	0.04%
EPR	D	0.04%
NVST	C	0.04%
TNL	A	0.04%
XRAY	F	0.04%
W	F	0.04%
NWS	A	0.04%
ACHC	F	0.04%
ZI	D	0.04%
NEU	C	0.04%
PLNT	A	0.04%
NWL	B	0.04%
MSGS	B	0.04%
VNOM	B	0.04%
ALNY	D	0.04%
TYL	B	0.04%
RH	C	0.04%
FLO	D	0.04%
KMPR	A	0.04%
BR	A	0.03%
CPRI	F	0.03%
BRKR	F	0.03%
AZTA	F	0.03%
GLOB	C	0.03%
SHC	D	0.03%
QDEL	F	0.03%
EXP	B	0.03%
AGR	A	0.03%
MP	B	0.03%
HHH	B	0.03%
ALGM	F	0.03%
COTY	F	0.03%
VIRT	A	0.03%
CNM	F	0.03%
MPW	F	0.03%
LLYVK	A	0.03%
NSA	C	0.03%
MAN	F	0.03%
AMED	F	0.03%
SMG	D	0.03%
BROS	A	0.03%
PENN	B	0.03%
IRDM	C	0.03%
SPR	D	0.03%
ECG	D	0.03%
TER	F	0.02%
TRIP	D	0.02%
LEG	F	0.02%
INFA	F	0.02%
UA	B	0.02%
WEN	C	0.02%
EXEL	B	0.02%
UAA	B	0.02%
BIRK	F	0.02%
QS	F	0.02%
CLVT	F	0.02%
FTRE	D	0.02%
AZEK	B	0.02%
LYFT	B	0.02%
ALAB	B	0.02%
PPC	B	0.02%
PSTG	F	0.02%
ETSY	D	0.02%
LCID	F	0.02%
RKT	F	0.02%
RCM	A	0.02%
ADT	B	0.02%
IONS	F	0.01%
TXG	F	0.01%
PLTK	A	0.01%
CHH	A	0.01%
CACC	D	0.01%
DJT	C	0.01%
UI	A	0.01%
TFSL	A	0.01%
PATH	D	0.01%
HCP	B	0.01%
LSCC	D	0.01%
MTN	C	0.01%
CNA	C	0.01%
FWONA	B	0.01%
AS	B	0.01%
HAS	D	0.01%
PYCR	C	0.01%
LLYVA	A	0.01%
DV	C	0.01%
LBRDA	B	0.01%
WOLF	F	0.01%
CERT	F	0.01%
NCNO	B	0.01%
LOAR	B	0.0%
PARAA	B	0.0%
SEG	B	0.0%
UWMC	F	0.0%
GRAL	C	0.0%
LAZ	B	0.0%

IWS Underweight 376 Positions Relative to FAB

Symbol	Grade	Weight
GM	A	-0.56%
PCAR	B	-0.51%
CVX	A	-0.48%
EOG	A	-0.48%
COP	C	-0.47%
F	C	-0.46%
XOM	B	-0.45%
WFC	A	-0.45%
AIG	B	-0.45%
VLO	C	-0.45%
CMCSA	B	-0.45%
T	A	-0.44%
COF	A	-0.43%
OXY	F	-0.43%
PSX	C	-0.43%
MPC	D	-0.42%
SRE	A	-0.38%
C	A	-0.38%
CVS	F	-0.38%
CRBG	B	-0.37%
INTC	C	-0.37%
FDX	A	-0.37%
SLB	C	-0.36%
CB	C	-0.35%
VZ	C	-0.32%
MS	A	-0.32%
BAC	A	-0.3%
TRV	A	-0.28%
USB	B	-0.28%
D	C	-0.25%
NOG	A	-0.25%
TGT	D	-0.25%
CNX	A	-0.25%
JXN	B	-0.24%
SM	C	-0.24%
HP	C	-0.24%
DE	D	-0.24%
DUK	C	-0.24%
STX	D	-0.23%
KHC	F	-0.23%
ATKR	C	-0.23%
PTEN	D	-0.23%
CMC	B	-0.23%
AEP	C	-0.23%
AMR	C	-0.22%
TMHC	B	-0.22%
PBF	D	-0.22%
URBN	C	-0.22%
HCC	B	-0.22%
CADE	A	-0.21%
CXW	B	-0.21%
MUR	F	-0.21%
RDN	C	-0.21%
TEX	D	-0.21%
LBRT	F	-0.2%
PNC	A	-0.2%
DIS	A	-0.2%
RIOT	B	-0.2%
MATX	B	-0.2%
RUSHA	B	-0.2%
TPH	D	-0.2%
ESNT	D	-0.19%
CSCO	B	-0.19%
MTH	D	-0.19%
CNO	A	-0.19%
MGY	A	-0.19%
MHO	D	-0.19%
OTTR	C	-0.18%
GBDC	A	-0.18%
HRI	B	-0.18%
BKH	A	-0.18%
ADTN	A	-0.18%
CSX	B	-0.18%
COOP	B	-0.18%
ASO	F	-0.18%
GPI	A	-0.18%
POR	D	-0.17%
SR	A	-0.17%
BCC	B	-0.17%
KDP	D	-0.16%
KBH	D	-0.16%
BMBL	C	-0.16%
SUM	B	-0.16%
GBX	A	-0.16%
CARR	D	-0.16%
SIG	B	-0.16%
JNJ	D	-0.16%
SANM	B	-0.15%
CTOS	B	-0.15%
ECVT	C	-0.15%
CUBI	B	-0.15%
BFH	A	-0.15%
JBT	B	-0.15%
HTZ	C	-0.15%
RIG	D	-0.14%
ELV	F	-0.14%
KMT	B	-0.14%
EIG	A	-0.14%
TALO	C	-0.14%
DNOW	A	-0.14%
ULH	B	-0.14%
ABG	A	-0.14%
GMS	A	-0.14%
TGNA	B	-0.14%
VTLE	C	-0.14%
VLY	A	-0.14%
CABO	B	-0.14%
REZI	A	-0.13%
GIII	D	-0.13%
WS	B	-0.13%
BTU	B	-0.13%
KOS	D	-0.13%
CRGY	A	-0.13%
SPNT	A	-0.13%
IART	C	-0.13%
OGS	A	-0.13%
APLE	B	-0.13%
RLJ	C	-0.13%
TDS	B	-0.13%
GT	C	-0.13%
GPOR	A	-0.13%
HELE	C	-0.13%
SWX	A	-0.13%
GEF	A	-0.13%
RES	F	-0.12%
BY	A	-0.12%
ZD	B	-0.12%
PEBO	A	-0.12%
PRDO	B	-0.12%
AVA	C	-0.12%
TRMK	A	-0.12%
EPC	F	-0.12%
VC	F	-0.12%
INDB	A	-0.12%
IMKTA	C	-0.12%
SHO	D	-0.12%
ENS	D	-0.12%
PARR	D	-0.12%
PLAB	D	-0.12%
INVA	C	-0.12%
UVV	B	-0.12%
AEO	F	-0.11%
VSH	F	-0.11%
MRC	B	-0.11%
CCS	F	-0.11%
WMK	B	-0.11%
SAH	A	-0.11%
DBRG	D	-0.11%
WKC	C	-0.11%
USM	B	-0.11%
PHIN	A	-0.11%
EBC	A	-0.11%
GHC	A	-0.11%
FOR	F	-0.11%
CAL	D	-0.11%
FFBC	A	-0.11%
NWE	C	-0.1%
ODFL	B	-0.1%
CRC	B	-0.1%
ABCB	A	-0.1%
ABR	C	-0.1%
OEC	C	-0.1%
MLKN	F	-0.1%
NAVI	D	-0.1%
PRG	A	-0.1%
UBSI	A	-0.1%
EQC	A	-0.1%
NWN	A	-0.1%
LZB	A	-0.1%
BV	C	-0.1%
CENTA	C	-0.1%
HWC	A	-0.1%
LADR	A	-0.1%
BECN	B	-0.1%
SBH	A	-0.1%
GEO	A	-0.1%
CVI	D	-0.1%
HGV	B	-0.1%
SCSC	B	-0.1%
VSCO	A	-0.1%
HOV	F	-0.1%
DRH	B	-0.1%
CMCO	C	-0.1%
AMWD	B	-0.1%
GES	F	-0.1%
MLI	B	-0.1%
HD	A	-0.09%
FRME	A	-0.09%
TNET	F	-0.09%
PFBC	A	-0.09%
CLX	A	-0.09%
SBUX	A	-0.09%
UFPI	C	-0.09%
ACN	C	-0.09%
ALKS	B	-0.09%
KFY	B	-0.09%
WSBC	A	-0.09%
CATY	A	-0.09%
CRK	A	-0.09%
SASR	A	-0.09%
CASH	A	-0.09%
BNL	D	-0.09%
PDCO	F	-0.09%
PLYA	A	-0.09%
ADNT	F	-0.09%
PNM	B	-0.09%
BANR	A	-0.09%
APD	A	-0.09%
CVBF	A	-0.09%
ANDE	C	-0.09%
PYPL	A	-0.09%
ACA	B	-0.09%
BUSE	A	-0.08%
ARCB	C	-0.08%
MDLZ	F	-0.08%
MODG	F	-0.08%
WERN	B	-0.08%
WGO	B	-0.08%
MCRI	A	-0.08%
PTVE	C	-0.08%
LMT	D	-0.08%
ALG	B	-0.08%
DAN	F	-0.08%
HOPE	A	-0.08%
FIBK	A	-0.08%
CI	D	-0.08%
FCF	A	-0.08%
SRCE	A	-0.08%
HUBG	A	-0.08%
NX	C	-0.08%
XRX	F	-0.08%
LAUR	A	-0.08%
BKE	A	-0.08%
MDT	D	-0.08%
BKU	A	-0.08%
TCBK	A	-0.08%
VBTX	A	-0.08%
KALU	C	-0.08%
GD	D	-0.08%
WSFS	A	-0.08%
PEP	F	-0.08%
HY	F	-0.08%
RNST	A	-0.08%
UPS	C	-0.08%
SFNC	B	-0.08%
EFSC	A	-0.08%
VRTS	A	-0.08%
FULT	A	-0.08%
ASGN	D	-0.08%
LOW	A	-0.08%
TTMI	B	-0.07%
LC	B	-0.07%
LILAK	F	-0.07%
SJW	F	-0.07%
PEB	F	-0.07%
MRTN	C	-0.07%
UNF	A	-0.07%
NKE	D	-0.07%
KLG	F	-0.07%
DIOD	F	-0.07%
XHR	B	-0.07%
MMS	D	-0.07%
SBCF	A	-0.06%
GOGO	C	-0.06%
FBNC	A	-0.06%
CSGS	A	-0.06%
AMN	F	-0.06%
FHI	A	-0.06%
PBH	A	-0.06%
OMI	F	-0.06%
KAR	A	-0.06%
DFH	F	-0.06%
NIC	A	-0.06%
SNEX	A	-0.06%
HMN	A	-0.06%
GRBK	D	-0.06%
ASB	A	-0.06%
SCVL	F	-0.06%
VSAT	F	-0.06%
SSTK	F	-0.06%
LGIH	F	-0.06%
ROG	D	-0.05%
PATK	C	-0.05%
FLR	B	-0.05%
ALIT	C	-0.05%
DFIN	D	-0.05%
SEM	B	-0.05%
DEA	D	-0.05%
MUSA	A	-0.05%
SHEN	F	-0.05%
THRM	F	-0.05%
LCII	D	-0.05%
SSB	A	-0.05%
PSMT	D	-0.05%
UCB	A	-0.05%
SYNA	C	-0.05%
AUB	A	-0.05%
OFG	B	-0.05%
SCL	D	-0.05%
ARI	D	-0.05%
ALEX	B	-0.05%
LNN	B	-0.05%
KWR	C	-0.05%
HTH	B	-0.05%
STBA	A	-0.05%
UMBF	A	-0.05%
DK	D	-0.05%
ROCK	C	-0.05%
ABM	B	-0.05%
MTX	B	-0.05%
WAFD	A	-0.05%
TOWN	A	-0.05%
HLF	C	-0.05%
IOSP	C	-0.05%
BHE	B	-0.05%
NWBI	A	-0.05%
UPWK	B	-0.04%
MYRG	B	-0.04%
NSP	F	-0.04%
FOXF	F	-0.04%
AVNS	F	-0.04%
WD	D	-0.04%
FUL	F	-0.04%
ODP	F	-0.04%
NJR	A	-0.04%
AVNT	A	-0.04%
FELE	B	-0.04%
SKY	A	-0.04%
WTS	A	-0.04%
AIR	B	-0.03%
SAFT	A	-0.03%
MTRN	C	-0.03%
XPEL	B	-0.03%
DEI	B	-0.03%
HLIO	B	-0.03%
GNW	A	-0.03%
IVT	B	-0.03%
CVCO	A	-0.03%
PPBI	A	-0.03%
ROIC	A	-0.03%
NBTB	A	-0.03%
FDP	A	-0.03%
BHLB	A	-0.03%
PFS	A	-0.03%
CBU	A	-0.03%
FBK	A	-0.03%
MCW	B	-0.03%
MGPI	D	-0.03%
TCBI	A	-0.03%
OPCH	F	-0.03%
OLPX	D	-0.02%
BLMN	F	-0.02%
PLUS	F	-0.02%
GIC	F	-0.02%
GPRE	F	-0.02%
JBGS	D	-0.02%
OXM	F	-0.02%
SHOO	D	-0.02%
AIN	C	-0.02%
MSGE	D	-0.02%
LXP	D	-0.02%
RC	F	-0.02%
CMTG	D	-0.02%
SHLS	F	-0.02%
CNXN	D	-0.02%
NVEE	F	-0.02%
KFRC	D	-0.02%
NNI	C	-0.02%
STC	A	-0.02%
NMRK	B	-0.02%
CNMD	C	-0.02%
OI	C	-0.02%
MSEX	B	-0.02%
UPBD	B	-0.02%
EVTC	C	-0.02%
PGRE	C	-0.02%