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

$132.00

Average Daily Volume

306,447

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

$84.26

Average Daily Volume

3,932

Number of Holdings ^*

660

* may have additional holdings in another (foreign) market

Performance

Period	IWS	FAB
30 Days	2.86%	1.21%
60 Days	4.51%	0.53%
90 Days	9.81%	7.56%
12 Months	28.17%	23.33%

290 Overlapping Holdings

Symbol	Grade	Weight in IWS	Weight in FAB	Overlap
AAP	F	0.03%	0.03%	0.03%
ACGL	B	0.46%	0.46%	0.46%
ADM	D	0.33%	0.43%	0.33%
AEE	B	0.26%	0.39%	0.26%
AFG	C	0.11%	0.05%	0.05%
AFL	A	0.68%	0.3%	0.3%
AGCO	D	0.07%	0.2%	0.07%
AGNC	B	0.09%	0.14%	0.09%
AGO	D	0.05%	0.22%	0.05%
AIZ	B	0.11%	0.1%	0.1%
AL	C	0.05%	0.2%	0.05%
ALK	B	0.06%	0.12%	0.06%
ALLY	F	0.09%	0.15%	0.09%
AMG	C	0.06%	0.24%	0.06%
AMKR	F	0.04%	0.07%	0.04%
AN	C	0.05%	0.18%	0.05%
APA	F	0.1%	0.14%	0.1%
APTV	D	0.22%	0.42%	0.22%
AR	C	0.09%	0.03%	0.03%
ARE	C	0.24%	0.18%	0.18%
ARW	B	0.08%	0.18%	0.08%
ASH	F	0.05%	0.12%	0.05%
ATO	B	0.23%	0.39%	0.23%
AVT	B	0.05%	0.17%	0.05%
AWK	C	0.32%	0.09%	0.09%
AXS	B	0.07%	0.14%	0.07%
AYI	B	0.1%	0.09%	0.09%
BBWI	D	0.07%	0.1%	0.07%
BBY	A	0.24%	0.29%	0.24%
BC	C	0.06%	0.14%	0.06%
BEN	F	0.07%	0.31%	0.07%
BERY	B	0.09%	0.14%	0.09%
BG	F	0.16%	0.39%	0.16%
BHF	F	0.03%	0.04%	0.03%
BIIB	F	0.33%	0.07%	0.07%
BJ	D	0.12%	0.04%	0.04%
BKR	C	0.41%	0.25%	0.25%
BOKF	C	0.03%	0.1%	0.03%
BPOP	C	0.07%	0.05%	0.05%
BWA	C	0.09%	0.17%	0.09%
BYD	C	0.05%	0.19%	0.05%
CACC	F	0.01%	0.04%	0.01%
CACI	B	0.12%	0.05%	0.05%
CAG	B	0.17%	0.38%	0.17%
CAR	D	0.01%	0.07%	0.01%
CBRE	B	0.42%	0.11%	0.11%
CCK	B	0.12%	0.05%	0.05%
CE	D	0.12%	0.4%	0.12%
CF	B	0.17%	0.47%	0.17%
CFG	D	0.21%	0.39%	0.21%
CHK	C	0.12%	0.19%	0.12%
CHRD	F	0.1%	0.13%	0.1%
CHTR	D	0.35%	0.27%	0.27%
CINF	C	0.23%	0.48%	0.23%
CLF	F	0.04%	0.16%	0.04%
CMA	C	0.09%	0.1%	0.09%
CMI	B	0.48%	0.09%	0.09%
CMS	B	0.23%	0.28%	0.23%
CNC	D	0.45%	0.38%	0.38%
CNP	C	0.2%	0.22%	0.2%
CNXC	F	0.03%	0.21%	0.03%
COLB	B	0.06%	0.22%	0.06%
COLM	C	0.03%	0.09%	0.03%
CPB	C	0.11%	0.19%	0.11%
CRI	D	0.03%	0.1%	0.03%
CROX	C	0.08%	0.08%	0.08%
CRUS	D	0.08%	0.04%	0.04%
CTRA	F	0.2%	0.37%	0.2%
CTSH	B	0.43%	0.37%	0.37%
CTVA	B	0.46%	0.09%	0.09%
CUZ	C	0.05%	0.16%	0.05%
CWEN	A	0.03%	0.03%	0.03%
CWEN	A	0.01%	0.03%	0.01%
CZR	C	0.1%	0.13%	0.1%
DAR	F	0.07%	0.21%	0.07%
DD	B	0.39%	0.08%	0.08%
DDS	D	0.01%	0.1%	0.01%
DG	F	0.21%	0.05%	0.05%
DGX	B	0.19%	0.28%	0.19%
DHI	C	0.64%	0.59%	0.59%
DINO	F	0.08%	0.18%	0.08%
DKS	D	0.12%	0.08%	0.08%
DNB	D	0.04%	0.1%	0.04%
DOV	B	0.29%	0.18%	0.18%
DOW	C	0.41%	0.17%	0.17%
DTE	A	0.29%	0.27%	0.27%
DTM	C	0.09%	0.09%	0.09%
DVN	F	0.29%	0.36%	0.29%
DXC	D	0.04%	0.18%	0.04%
EBAY	B	0.36%	0.39%	0.36%
ED	B	0.4%	0.38%	0.38%
EG	B	0.16%	0.43%	0.16%
EHC	B	0.1%	0.04%	0.04%
EIX	B	0.37%	0.29%	0.29%
EMN	B	0.14%	0.14%	0.14%
ENOV	F	0.03%	0.02%	0.02%
EPAM	F	0.12%	0.18%	0.12%
EQR	C	0.33%	0.27%	0.27%
EQT	C	0.22%	0.39%	0.22%
ETR	A	0.31%	0.5%	0.31%
EVRG	B	0.15%	0.19%	0.15%
EWBC	C	0.13%	0.14%	0.13%
EXC	B	0.46%	0.48%	0.46%
EXPD	B	0.16%	0.08%	0.08%
FAF	B	0.07%	0.1%	0.07%
FANG	F	0.36%	0.38%	0.36%
FE	B	0.29%	0.28%	0.28%
FHB	D	0.03%	0.08%	0.03%
FHN	D	0.1%	0.13%	0.1%
FITB	B	0.33%	0.29%	0.29%
FMC	B	0.09%	0.23%	0.09%
FNB	D	0.06%	0.13%	0.06%
FNF	B	0.18%	0.21%	0.18%
FOXA	B	0.1%	0.49%	0.1%
FYBR	C	0.1%	0.22%	0.1%
G	C	0.08%	0.2%	0.08%
GAP	F	0.05%	0.11%	0.05%
GIS	B	0.47%	0.29%	0.29%
GL	D	0.11%	0.16%	0.11%
GO	F	0.02%	0.02%	0.02%
GPC	D	0.22%	0.17%	0.17%
GPN	D	0.32%	0.49%	0.32%
GXO	D	0.07%	0.04%	0.04%
HAL	F	0.29%	0.29%	0.29%
HBAN	B	0.24%	0.38%	0.24%
HIG	B	0.38%	0.39%	0.38%
HII	F	0.12%	0.13%	0.12%
HIW	C	0.04%	0.12%	0.04%
HLI	C	0.09%	0.05%	0.05%
HOG	C	0.05%	0.24%	0.05%
HPE	C	0.28%	0.37%	0.28%
HPQ	C	0.29%	0.17%	0.17%
HRL	F	0.1%	0.18%	0.1%
HSIC	C	0.1%	0.05%	0.05%
HSY	D	0.28%	0.18%	0.18%
HUM	F	0.42%	0.07%	0.07%
IAC	C	0.05%	0.1%	0.05%
IDA	B	0.06%	0.09%	0.06%
INCY	C	0.11%	0.27%	0.11%
IP	C	0.19%	0.05%	0.05%
IPG	C	0.13%	0.36%	0.13%
IPGP	D	0.02%	0.1%	0.02%
IVZ	B	0.07%	0.05%	0.05%
J	A	0.21%	0.09%	0.09%
JAZZ	D	0.08%	0.13%	0.08%
JBHT	D	0.16%	0.27%	0.16%
JBL	C	0.13%	0.25%	0.13%
JEF	C	0.09%	0.05%	0.05%
JLL	B	0.1%	0.05%	0.05%
K	A	0.24%	0.11%	0.11%
KEX	C	0.08%	0.04%	0.04%
KEY	C	0.18%	0.2%	0.18%
KIM	C	0.17%	0.2%	0.17%
KMI	C	0.48%	0.36%	0.36%
KNX	C	0.09%	0.13%	0.09%
KR	B	0.42%	0.27%	0.27%
KRC	C	0.05%	0.22%	0.05%
KSS	D	0.02%	0.1%	0.02%
KVUE	B	0.5%	0.1%	0.1%
L	D	0.16%	0.36%	0.16%
LAD	B	0.09%	0.25%	0.09%
LBRDK	C	0.06%	0.23%	0.06%
LEA	D	0.07%	0.16%	0.07%
LEN	B	0.49%	0.54%	0.49%
LEN	B	0.02%	0.54%	0.02%
LFUS	C	0.07%	0.04%	0.04%
LHX	C	0.5%	0.08%	0.08%
LKQ	F	0.12%	0.33%	0.12%
LNC	C	0.06%	0.17%	0.06%
LNG	D	0.23%	0.35%	0.23%
LNT	A	0.17%	0.1%	0.1%
LPX	B	0.02%	0.1%	0.02%
LSTR	D	0.07%	0.04%	0.04%
LUV	C	0.2%	0.25%	0.2%
LYB	D	0.28%	0.34%	0.28%
M	F	0.05%	0.1%	0.05%
MAA	C	0.21%	0.09%	0.09%
MAT	D	0.07%	0.05%	0.05%
MDU	B	0.06%	0.18%	0.06%
MIDD	C	0.09%	0.1%	0.09%
MKC	C	0.24%	0.1%	0.1%
MKL	C	0.17%	0.42%	0.17%
MOH	D	0.09%	0.2%	0.09%
MOS	F	0.09%	0.19%	0.09%
MTB	C	0.34%	0.4%	0.34%
MTDR	F	0.06%	0.18%	0.06%
MTG	B	0.07%	0.25%	0.07%
NFG	B	0.06%	0.18%	0.06%
NI	B	0.17%	0.15%	0.15%
NOV	F	0.08%	0.18%	0.08%
NRG	B	0.12%	0.13%	0.12%
NUE	D	0.4%	0.39%	0.39%
NVST	D	0.04%	0.05%	0.04%
NXST	D	0.04%	0.13%	0.04%
OC	C	0.17%	0.34%	0.17%
OGE	B	0.09%	0.14%	0.09%
OGN	D	0.06%	0.16%	0.06%
OKE	C	0.62%	0.19%	0.19%
OLN	D	0.06%	0.12%	0.06%
OMC	B	0.22%	0.19%	0.19%
OMF	D	0.06%	0.13%	0.06%
ORI	B	0.1%	0.1%	0.1%
OSK	F	0.07%	0.16%	0.07%
OVV	F	0.12%	0.18%	0.12%
OZK	F	0.05%	0.18%	0.05%
PAG	D	0.03%	0.13%	0.03%
PARA	D	0.07%	0.04%	0.04%
PB	D	0.07%	0.1%	0.07%
PCG	C	0.48%	0.38%	0.38%
PEG	B	0.49%	0.19%	0.19%
PFG	B	0.22%	0.09%	0.09%
PII	D	0.05%	0.14%	0.05%
PKG	B	0.21%	0.2%	0.2%
PNFP	C	0.09%	0.16%	0.09%
PNW	C	0.12%	0.19%	0.12%
PPG	C	0.33%	0.17%	0.17%
PRGO	F	0.04%	0.09%	0.04%
PRU	C	0.49%	0.08%	0.08%
PVH	D	0.06%	0.19%	0.06%
R	C	0.07%	0.2%	0.07%
REYN	C	0.02%	0.09%	0.02%
RF	B	0.24%	0.29%	0.24%
RGA	C	0.16%	0.04%	0.04%
RHI	D	0.08%	0.04%	0.04%
RJF	C	0.27%	0.08%	0.08%
RNR	B	0.15%	0.24%	0.15%
RRC	D	0.08%	0.11%	0.08%
RS	D	0.18%	0.34%	0.18%
RYN	C	0.05%	0.09%	0.05%
SAIC	C	0.08%	0.09%	0.08%
SEB	D	0.01%	0.21%	0.01%
SEE	C	0.03%	0.04%	0.03%
SEIC	B	0.08%	0.09%	0.08%
SJM	C	0.14%	0.37%	0.14%
SKX	C	0.09%	0.07%	0.07%
SLGN	B	0.05%	0.1%	0.05%
SLM	C	0.05%	0.09%	0.05%
SNA	B	0.17%	0.37%	0.17%
SNDR	B	0.01%	0.11%	0.01%
SNV	D	0.07%	0.05%	0.05%
SNX	C	0.1%	0.09%	0.09%
SON	D	0.06%	0.13%	0.06%
SPB	B	0.03%	0.13%	0.03%
SSNC	C	0.18%	0.2%	0.18%
STLD	C	0.2%	0.39%	0.2%
STT	B	0.3%	0.3%	0.3%
SWKS	F	0.18%	0.23%	0.18%
SYF	C	0.23%	0.45%	0.23%
SYY	C	0.16%	0.08%	0.08%
TAP	D	0.11%	0.22%	0.11%
TDY	B	0.23%	0.28%	0.23%
TFX	B	0.13%	0.05%	0.05%
THC	C	0.18%	0.21%	0.18%
THO	C	0.06%	0.14%	0.06%
TKR	C	0.06%	0.13%	0.06%
TROW	C	0.27%	0.32%	0.27%
TSN	D	0.19%	0.09%	0.09%
TXT	D	0.19%	0.25%	0.19%
UAA	C	0.02%	0.14%	0.02%
UAL	B	0.19%	0.45%	0.19%
UGI	B	0.06%	0.09%	0.06%
UHAL	B	0.05%	0.4%	0.05%
UHAL	B	0.0%	0.4%	0.0%
UHS	C	0.16%	0.21%	0.16%
UNM	B	0.12%	0.18%	0.12%
USFD	C	0.16%	0.05%	0.05%
UTHR	B	0.17%	0.14%	0.14%
VAC	D	0.03%	0.06%	0.03%
VNO	B	0.08%	0.06%	0.06%
VOYA	B	0.09%	0.05%	0.05%
VTR	C	0.28%	0.1%	0.1%
VTRS	D	0.15%	0.38%	0.15%
WAL	B	0.11%	0.17%	0.11%
WBD	D	0.23%	0.38%	0.23%
WBS	C	0.09%	0.18%	0.09%
WCC	C	0.08%	0.14%	0.08%
WEC	B	0.34%	0.29%	0.29%
WHR	C	0.06%	0.08%	0.06%
WLK	C	0.05%	0.08%	0.05%
WPC	C	0.15%	0.28%	0.15%
WRB	D	0.19%	0.18%	0.18%
WTFC	C	0.08%	0.14%	0.08%
WTM	F	0.05%	0.2%	0.05%
WTRG	D	0.11%	0.08%	0.08%
WU	C	0.03%	0.12%	0.03%
WY	C	0.27%	0.2%	0.2%
XEL	B	0.4%	0.4%	0.4%
ZBH	F	0.25%	0.24%	0.24%
ZION	D	0.08%	0.09%	0.08%
ZM	C	0.2%	0.28%	0.2%

IWS Overweight 416 Positions Relative to FAB

Symbol	Grade	Weight
AJG	D	0.63%
WMB	C	0.62%
O	B	0.61%
BK	B	0.6%
DLR	B	0.58%
CCI	C	0.57%
FIS	C	0.53%
ALL	C	0.48%
MCHP	D	0.46%
A	C	0.46%
URI	B	0.45%
AME	C	0.45%
SPG	B	0.45%
OTIS	B	0.44%
IQV	D	0.44%
ROST	C	0.44%
IR	B	0.44%
EXR	C	0.43%
FERG	D	0.42%
HWM	B	0.42%
EA	D	0.42%
GEHC	B	0.41%
DFS	C	0.4%
GLW	B	0.39%
VICI	C	0.39%
XYL	C	0.37%
AVB	C	0.37%
MLM	D	0.36%
NDAQ	C	0.35%
WAB	B	0.35%
CSGP	D	0.35%
MTD	C	0.34%
ON	D	0.34%
DAL	C	0.34%
PHM	B	0.33%
PWR	B	0.33%
EFX	C	0.33%
WTW	B	0.33%
ANSS	D	0.32%
NVR	B	0.31%
ROK	D	0.31%
PAYX	C	0.31%
IFF	A	0.3%
GRMN	D	0.3%
KEYS	B	0.3%
FTV	C	0.3%
HLT	B	0.3%
RCL	B	0.3%
CHD	C	0.29%
FSLR	C	0.29%
TTWO	D	0.29%
SBAC	C	0.29%
RMD	C	0.29%
SW	B	0.28%
VMC	C	0.28%
ES	B	0.27%
FCNCA	D	0.27%
PPL	A	0.27%
HUBB	B	0.26%
STE	B	0.26%
SQ	D	0.25%
WDC	C	0.25%
CBOE	C	0.25%
INVH	D	0.25%
YUM	B	0.25%
ILMN	D	0.24%
MSTR	C	0.24%
LDOS	A	0.24%
BLDR	C	0.24%
COO	C	0.24%
BALL	C	0.23%
TRU	B	0.22%
ESS	C	0.22%
BAX	C	0.22%
AVTR	C	0.21%
NTRS	C	0.21%
HOLX	D	0.21%
LH	D	0.21%
CCL	C	0.21%
SUI	C	0.2%
CSL	B	0.2%
MSCI	C	0.2%
MAS	B	0.2%
SWK	B	0.19%
WSO	C	0.19%
MRO	D	0.18%
PNR	B	0.18%
AMCR	B	0.18%
IEX	C	0.18%
ZBRA	B	0.17%
VLTO	B	0.17%
UDR	C	0.17%
CDW	D	0.17%
AKAM	D	0.17%
HOOD	C	0.17%
RVTY	B	0.17%
TOL	A	0.17%
DOC	B	0.17%
NTAP	D	0.16%
IBKR	B	0.16%
GGG	C	0.16%
TRMB	C	0.16%
VRSN	C	0.16%
GEN	A	0.16%
IRM	C	0.16%
NDSN	C	0.16%
DLTR	F	0.16%
CPT	C	0.15%
HST	D	0.15%
REG	C	0.15%
ELS	D	0.15%
HES	F	0.15%
GLPI	C	0.15%
BMRN	F	0.15%
AES	C	0.15%
AMH	D	0.15%
BRO	C	0.15%
ACM	B	0.15%
RPM	B	0.14%
CUBE	C	0.14%
CHRW	B	0.14%
TECH	C	0.14%
CVNA	B	0.14%
ALLE	B	0.14%
EME	B	0.14%
CW	B	0.14%
CLH	C	0.14%
JKHY	B	0.14%
JNPR	A	0.14%
FFIV	B	0.14%
BXP	C	0.14%
CAH	C	0.13%
KMX	D	0.13%
CASY	D	0.13%
RRX	C	0.13%
SCI	C	0.13%
FDS	C	0.13%
COHR	C	0.13%
NVT	C	0.13%
FTI	D	0.13%
BLD	C	0.13%
ITT	B	0.13%
FWONK	C	0.12%
ATR	B	0.12%
AFRM	D	0.12%
NLY	B	0.12%
CRL	F	0.12%
AVY	C	0.12%
Z	C	0.12%
NTNX	D	0.12%
FBIN	B	0.12%
RPRX	C	0.12%
CTLT	B	0.12%
REXR	C	0.12%
MTCH	C	0.11%
FRT	C	0.11%
DPZ	D	0.11%
RGLD	C	0.11%
CNH	C	0.11%
MKTX	D	0.11%
CG	C	0.11%
TTEK	C	0.11%
DRI	C	0.11%
RIVN	F	0.11%
QRVO	F	0.11%
SOLV	D	0.11%
TPR	A	0.11%
DOX	C	0.11%
ARMK	B	0.11%
AOS	B	0.11%
OHI	C	0.11%
NWSA	D	0.11%
ALB	D	0.11%
PFGC	B	0.11%
WWD	C	0.11%
CIEN	B	0.1%
AA	C	0.1%
TWLO	C	0.1%
MGM	D	0.1%
NNN	B	0.1%
DCI	C	0.1%
X	F	0.1%
LAMR	B	0.1%
NYT	B	0.1%
TTC	F	0.1%
WST	D	0.1%
INGR	B	0.1%
PRI	B	0.1%
GPK	C	0.1%
EGP	C	0.1%
EVR	B	0.1%
SF	B	0.1%
WYNN	C	0.09%
BWXT	A	0.09%
COKE	C	0.09%
WEX	C	0.09%
WSM	C	0.09%
WAT	B	0.09%
KBR	D	0.09%
ACI	F	0.09%
EXAS	D	0.09%
CHE	C	0.09%
GWRE	B	0.09%
ALGN	D	0.09%
ATI	C	0.09%
GMED	D	0.09%
BRBR	B	0.09%
DAY	D	0.09%
MTZ	C	0.09%
ALSN	B	0.09%
FCN	C	0.09%
FND	C	0.09%
AXTA	B	0.09%
APG	F	0.09%
COLD	D	0.09%
PTC	C	0.09%
GME	D	0.09%
ROKU	D	0.09%
MHK	B	0.09%
BRX	C	0.09%
TKO	A	0.09%
RBC	B	0.09%
TW	B	0.09%
OKTA	F	0.08%
CFR	C	0.08%
AAL	D	0.08%
MSA	D	0.08%
BFAM	C	0.08%
RGEN	F	0.08%
HR	B	0.08%
GNTX	D	0.08%
MKSI	F	0.08%
ELAN	D	0.08%
ACHC	D	0.08%
SOFI	D	0.08%
FICO	B	0.08%
STAG	D	0.08%
PR	F	0.08%
HRB	C	0.08%
SSD	C	0.08%
ONTO	C	0.08%
CART	C	0.08%
FR	C	0.08%
ADC	C	0.08%
SWN	C	0.08%
CBSH	D	0.08%
RL	B	0.08%
LECO	D	0.08%
CR	B	0.08%
H	B	0.07%
ESI	C	0.07%
MTSI	C	0.07%
GWW	B	0.07%
RLI	B	0.07%
ESAB	C	0.07%
OLLI	C	0.07%
SIRI	C	0.07%
WBA	F	0.07%
FLS	C	0.07%
FAST	C	0.07%
AZPN	B	0.07%
LW	D	0.07%
BIO	C	0.07%
CGNX	F	0.07%
STWD	B	0.07%
VFC	B	0.07%
WMS	D	0.07%
OLED	D	0.06%
FOX	B	0.06%
W	C	0.06%
CCCS	D	0.06%
JHG	B	0.06%
LINE	F	0.06%
HXL	F	0.06%
ROIV	D	0.06%
VNT	F	0.06%
WSC	D	0.06%
THG	C	0.06%
ST	D	0.06%
XRAY	D	0.06%
COIN	F	0.06%
KD	F	0.06%
WH	B	0.06%
SN	B	0.06%
S	D	0.06%
VMI	C	0.06%
POST	B	0.06%
SRCL	B	0.06%
RITM	D	0.06%
AMP	B	0.05%
LITE	B	0.05%
RH	C	0.05%
DBX	C	0.05%
BILL	D	0.05%
SITE	D	0.05%
GNRC	D	0.05%
DLB	D	0.05%
CPRI	D	0.05%
EEFT	F	0.05%
FLO	C	0.05%
FRPT	C	0.05%
PSN	B	0.05%
DOCS	B	0.05%
SAIA	D	0.05%
IRDM	C	0.04%
AMED	D	0.04%
AM	B	0.04%
ZG	C	0.04%
PAYC	D	0.04%
SMG	B	0.04%
ZI	D	0.04%
NWS	D	0.04%
VNOM	D	0.04%
PK	D	0.04%
NSA	C	0.04%
PLNT	C	0.04%
SPR	D	0.04%
LBTYK	B	0.04%
MPW	C	0.04%
U	D	0.04%
LBTYA	B	0.04%
COTY	D	0.04%
MAN	C	0.04%
MSGS	B	0.04%
GTES	C	0.04%
NEU	D	0.04%
EPR	C	0.04%
KMPR	D	0.04%
TYL	C	0.04%
HUN	C	0.04%
TPG	C	0.04%
AWI	B	0.04%
MSM	D	0.04%
ALNY	C	0.04%
GFS	F	0.04%
CIVI	F	0.04%
BROS	D	0.03%
JWN	C	0.03%
EXP	B	0.03%
YETI	D	0.03%
HHH	C	0.03%
QDEL	D	0.03%
SHC	C	0.03%
VIRT	C	0.03%
MASI	C	0.03%
ULTA	D	0.03%
AGR	C	0.03%
CC	D	0.03%
RKT	C	0.03%
BRKR	D	0.03%
AZTA	F	0.03%
ALGM	D	0.03%
CLVT	D	0.03%
LOPE	D	0.03%
CNM	F	0.03%
CXT	F	0.03%
PENN	D	0.03%
NWL	C	0.03%
TNL	C	0.03%
LCID	C	0.03%
LYFT	D	0.02%
TRIP	F	0.02%
WEN	C	0.02%
UA	C	0.02%
PPC	D	0.02%
INFA	D	0.02%
LEG	D	0.02%
TER	C	0.02%
MP	C	0.02%
BIRK	F	0.02%
FTRE	F	0.02%
GLOB	D	0.02%
SAM	D	0.02%
PSTG	F	0.02%
LLYVK	B	0.02%
QS	F	0.02%
VSTS	D	0.02%
AZEK	C	0.02%
PINC	D	0.02%
HAYW	C	0.02%
ADT	D	0.02%
BR	C	0.02%
ETSY	D	0.02%
RCM	C	0.02%
IONS	F	0.01%
UI	B	0.01%
PLTK	C	0.01%
CHH	B	0.01%
TFSL	D	0.01%
LBRDA	C	0.01%
PATH	D	0.01%
LLYVA	B	0.01%
TXG	D	0.01%
AS	C	0.01%
PYCR	D	0.01%
LSCC	D	0.01%
NCNO	F	0.01%
WOLF	F	0.01%
HCP	A	0.01%
ALAB	C	0.01%
FWONA	C	0.01%
DV	F	0.01%
FIVE	D	0.01%
MTN	D	0.01%
CNA	D	0.01%
HAS	B	0.01%
CERT	F	0.01%
EXEL	C	0.01%
SEG	F	0.0%
LOAR	C	0.0%
PARAA	D	0.0%
DJT	F	0.0%
NFE	F	0.0%
UWMC	D	0.0%
LAZ	B	0.0%
GRAL	F	0.0%

IWS Underweight 373 Positions Relative to FAB

Symbol	Grade	Weight
T	B	-0.47%
BRK.A	C	-0.47%
GM	C	-0.44%
CMCSA	C	-0.43%
EOG	D	-0.42%
CVS	D	-0.41%
MPC	F	-0.4%
COP	F	-0.4%
CVX	F	-0.39%
AEP	C	-0.39%
PSX	F	-0.39%
CB	B	-0.38%
COF	B	-0.37%
VLO	F	-0.37%
VZ	A	-0.36%
KHC	C	-0.36%
F	F	-0.36%
OXY	F	-0.35%
XOM	D	-0.34%
AIG	D	-0.33%
WFC	D	-0.31%
USB	C	-0.29%
D	C	-0.29%
MHO	B	-0.29%
DUK	B	-0.28%
SRE	B	-0.27%
TMHC	B	-0.27%
DE	A	-0.27%
GPI	B	-0.27%
MTH	C	-0.27%
JXN	B	-0.26%
RUSHA	C	-0.26%
KBH	C	-0.26%
FDX	D	-0.25%
BAC	D	-0.25%
CRBG	C	-0.24%
RDN	D	-0.24%
ESNT	B	-0.24%
ASO	D	-0.24%
C	C	-0.24%
TEL	D	-0.24%
ESGR	D	-0.22%
VLY	D	-0.22%
PYPL	B	-0.22%
SIG	C	-0.22%
NOG	F	-0.21%
BCC	C	-0.21%
LBRT	F	-0.21%
HCA	B	-0.21%
BTU	C	-0.21%
TRV	C	-0.2%
SM	F	-0.2%
LOW	B	-0.2%
PNC	C	-0.2%
LMT	A	-0.2%
TEX	F	-0.2%
TPH	C	-0.2%
BKH	B	-0.19%
GS	B	-0.19%
APD	B	-0.19%
COOP	C	-0.19%
KDP	B	-0.19%
GMS	C	-0.19%
JNJ	C	-0.19%
CVI	F	-0.19%
MDT	B	-0.19%
OGS	B	-0.19%
CADE	C	-0.19%
NEE	B	-0.19%
TGT	C	-0.18%
MUR	F	-0.18%
CSCO	B	-0.18%
POR	B	-0.18%
HP	F	-0.18%
INTC	D	-0.17%
PRG	C	-0.17%
MGY	D	-0.17%
PTEN	F	-0.17%
MATX	B	-0.17%
MS	B	-0.17%
CCS	C	-0.16%
ADTN	C	-0.16%
MLI	B	-0.16%
UPS	D	-0.16%
CMC	D	-0.16%
ABG	D	-0.16%
NMIH	C	-0.15%
EBC	C	-0.15%
UFPI	C	-0.15%
CNX	B	-0.15%
BZH	B	-0.15%
PHIN	C	-0.15%
URBN	F	-0.15%
PBF	F	-0.15%
NWE	A	-0.14%
WMK	D	-0.14%
GHC	B	-0.14%
ATSG	C	-0.14%
ONB	D	-0.14%
LZB	C	-0.14%
BNL	B	-0.14%
INVA	C	-0.14%
HE	F	-0.14%
GDEN	D	-0.13%
STBA	D	-0.13%
IMKTA	D	-0.13%
TGNA	C	-0.13%
SANM	D	-0.13%
UVV	D	-0.13%
ENVA	C	-0.13%
SR	B	-0.13%
HPP	F	-0.13%
LGIH	D	-0.13%
AVA	B	-0.13%
NWN	B	-0.13%
GEF	C	-0.13%
EIG	C	-0.13%
CALM	B	-0.12%
HTZ	F	-0.12%
JBT	C	-0.12%
AAT	C	-0.12%
CXW	F	-0.12%
CABO	F	-0.12%
INDB	D	-0.12%
OLPX	D	-0.12%
KOP	F	-0.12%
SBH	B	-0.12%
FCF	D	-0.12%
RC	F	-0.12%
CNO	C	-0.12%
RLJ	D	-0.12%
NX	F	-0.12%
BKU	D	-0.12%
CUBI	F	-0.12%
RYI	F	-0.12%
EFSC	D	-0.12%
AEO	D	-0.12%
VAL	F	-0.12%
PFBC	D	-0.11%
NAVI	D	-0.11%
IBOC	D	-0.11%
REVG	D	-0.11%
ABCB	C	-0.11%
SCHL	D	-0.11%
UMBF	C	-0.11%
ADNT	D	-0.11%
ATKR	F	-0.11%
SSB	C	-0.11%
FRME	D	-0.11%
CATY	C	-0.11%
FFBC	D	-0.11%
OCFC	B	-0.11%
DNOW	F	-0.11%
GES	F	-0.11%
CENTA	F	-0.1%
ANDE	D	-0.1%
USM	C	-0.1%
TRGP	C	-0.1%
SASR	C	-0.1%
HOMB	D	-0.1%
BLK	B	-0.1%
ABM	D	-0.1%
FBNC	C	-0.1%
REZI	D	-0.1%
UBSI	D	-0.1%
POOL	C	-0.1%
PRDO	D	-0.1%
WERN	C	-0.1%
VSH	F	-0.1%
ABR	B	-0.1%
ARCH	D	-0.1%
ALGT	D	-0.1%
SAH	D	-0.1%
PEBO	D	-0.1%
VSCO	C	-0.1%
HUBG	C	-0.1%
WGO	D	-0.1%
OFG	C	-0.09%
AMN	F	-0.09%
MSGE	B	-0.09%
GD	C	-0.09%
CASH	D	-0.09%
HOPE	D	-0.09%
BANR	C	-0.09%
EPC	F	-0.09%
SWX	C	-0.09%
ADV	D	-0.09%
LGND	D	-0.09%
NKE	D	-0.09%
PDCO	F	-0.09%
ASGN	D	-0.09%
SFNC	C	-0.09%
VBTX	C	-0.09%
CI	C	-0.09%
SSTK	F	-0.09%
REGN	D	-0.09%
ABT	C	-0.09%
TOWN	D	-0.09%
HWC	D	-0.09%
TALO	F	-0.09%
JCI	B	-0.09%
GT	F	-0.09%
NJR	C	-0.09%
MATW	F	-0.09%
PARR	F	-0.09%
CRK	C	-0.09%
MDLZ	C	-0.09%
WMT	B	-0.09%
CRC	C	-0.09%
PATK	C	-0.09%
LILAK	D	-0.09%
ARCB	D	-0.08%
HGV	F	-0.08%
OMCL	C	-0.08%
NBHC	D	-0.08%
UNF	B	-0.08%
SJW	F	-0.08%
FHI	B	-0.08%
APOG	B	-0.08%
KMT	B	-0.08%
MCRI	B	-0.08%
WSBC	D	-0.08%
RNST	D	-0.08%
WSFS	D	-0.08%
BECN	F	-0.08%
FIBK	C	-0.08%
ELV	D	-0.08%
PNM	B	-0.08%
ENS	C	-0.08%
DAN	D	-0.08%
TSCO	B	-0.08%
KMB	C	-0.08%
JELD	D	-0.08%
BXC	D	-0.08%
OMI	D	-0.08%
AX	D	-0.08%
NWBI	D	-0.08%
CENX	C	-0.08%
SLVM	C	-0.08%
CTOS	F	-0.08%
OI	D	-0.08%
BKE	B	-0.08%
VRTS	F	-0.07%
PLUS	B	-0.07%
MRTN	D	-0.07%
ZD	D	-0.07%
CMCO	D	-0.07%
MODG	F	-0.07%
CBRL	D	-0.07%
CHGG	F	-0.07%
RIG	F	-0.07%
ECVT	F	-0.07%
HTLD	F	-0.07%
QCOM	D	-0.07%
NMRK	B	-0.07%
ODP	F	-0.07%
MLKN	F	-0.07%
ICUI	C	-0.07%
KN	D	-0.07%
EQC	D	-0.07%
KOS	F	-0.07%
CPK	B	-0.06%
VCTR	B	-0.06%
NHC	D	-0.06%
DFIN	D	-0.06%
ALEX	C	-0.06%
BDC	B	-0.06%
CSGS	C	-0.06%
CNXN	B	-0.06%
PRIM	B	-0.06%
UCBI	B	-0.06%
SBCF	D	-0.06%
LCII	C	-0.06%
AUB	D	-0.06%
NIC	D	-0.06%
TCBI	C	-0.06%
GTY	C	-0.06%
SKY	B	-0.06%
DIOD	F	-0.06%
WAFD	D	-0.06%
GEO	F	-0.06%
ROIC	C	-0.06%
DORM	C	-0.06%
HELE	D	-0.06%
DEI	B	-0.06%
FUL	D	-0.05%
SUM	D	-0.05%
SHEN	F	-0.05%
NEOG	D	-0.05%
AVNT	B	-0.05%
HLF	F	-0.05%
TRS	C	-0.05%
BXMT	C	-0.05%
PCH	C	-0.05%
PCRX	F	-0.05%
LNN	C	-0.05%
GOGO	F	-0.05%
XHR	B	-0.05%
EAT	C	-0.05%
PBH	C	-0.05%
CVBF	D	-0.05%
HTH	D	-0.05%
PTVE	D	-0.05%
SAFT	D	-0.05%
DEA	D	-0.05%
KLG	D	-0.05%
TRMK	D	-0.05%
FULT	D	-0.05%
SNEX	C	-0.05%
CWT	D	-0.05%
PSMT	B	-0.05%
MCY	C	-0.05%
BUSE	D	-0.05%
SRCE	D	-0.05%
TCBK	D	-0.05%
OEC	F	-0.05%
KALU	D	-0.04%
LANC	F	-0.04%
SIGI	D	-0.04%
STRA	F	-0.04%
SEM	D	-0.04%
KWR	D	-0.04%
MTX	D	-0.04%
BLMN	F	-0.04%
FOXF	F	-0.04%
MMS	B	-0.04%
CMTG	F	-0.03%
OII	D	-0.03%
PGRE	D	-0.03%
ATUS	C	-0.03%
KFY	C	-0.03%
LXP	C	-0.03%
PPBI	D	-0.03%
SHOO	B	-0.03%
GNW	C	-0.03%
WD	B	-0.03%
NNI	C	-0.03%
THS	C	-0.03%
ADUS	C	-0.03%
FBP	C	-0.03%
HNI	C	-0.03%
MWA	B	-0.03%
NBTB	D	-0.03%
JBGS	C	-0.03%
STC	C	-0.03%
BHLB	C	-0.03%
BMBL	F	-0.03%
FBK	C	-0.03%
CBU	D	-0.03%
PLXS	B	-0.03%
CVCO	B	-0.03%
BOOT	B	-0.03%
LTH	C	-0.03%
FDP	C	-0.03%
PFS	C	-0.03%
HI	F	-0.02%
DK	F	-0.02%
OXM	F	-0.02%
ROG	D	-0.02%
SCL	D	-0.02%
XRX	D	-0.02%
CTS	D	-0.02%
WOR	F	-0.02%
CAKE	B	-0.02%
NVEE	F	-0.02%
KFRC	F	-0.02%
VSAT	F	-0.02%
THRM	F	-0.02%
APAM	C	-0.02%
AIN	F	-0.02%
ASB	D	-0.02%
HMN	C	-0.02%
IART	F	-0.01%