IWS vs. IMCV ETF Comparison

Comparison of iShares Russell Mid-cap Value ETF (IWS) to iShares Morningstar Mid-Cap Value ETF (IMCV)

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

$120.74

Average Daily Volume

276,458

Number of Holdings ^*

696

* may have additional holdings in another (foreign) market

IMCV

iShares Morningstar Mid-Cap Value ETF

IMCV Description

The investment seeks to track the investment results of the Morningstar® US Mid Cap Broad Value IndexSM 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. The underlying index measures the performance of stocks issued by mid-capitalization companies that have exhibited “value” characteristics as determined by Morningstar, Inc. (Morningstar or the index providerâ) proprietary index methodology.

Grade (RS Rating)

Last Trade

$70.24

Average Daily Volume

15,840

Number of Holdings ^*

310

* may have additional holdings in another (foreign) market

Performance

Period	IWS	IMCV
30 Days	0.41%	0.10%
60 Days	0.30%	-0.52%
90 Days	-3.35%	-3.18%
12 Months	12.68%	12.93%

269 Overlapping Holdings

	Symbol	Grade	Weight in IWS	Weight in IMCV	Overlap
	ACGL	B	0.4%	0.28%	0.28%
	ACI	F	0.1%	0.17%	0.1%
	ACM	D	0.16%	0.16%	0.16%
	AEE	D	0.24%	0.24%	0.24%
	AES	D	0.06%	0.26%	0.06%
	AFG	D	0.12%	0.12%	0.12%
	AGCO	F	0.08%	0.13%	0.08%
	AGR	C	0.03%	0.05%	0.03%
	AKAM	F	0.17%	0.14%	0.14%
	ALB	F	0.14%	0.22%	0.14%
	ALL	D	0.54%	0.87%	0.54%
	ALLE	C	0.01%	0.1%	0.01%
	AMCR	C	0.18%	0.29%	0.18%
	AMH	A	0.16%	0.1%	0.1%
	AOS	D	0.11%	0.08%	0.08%
	APA	D	0.04%	0.21%	0.04%
	AR	D	0.12%	0.19%	0.12%
	ARE	C	0.26%	0.24%	0.24%
	ATO	B	0.23%	0.25%	0.23%
	AVB	A	0.38%	0.33%	0.33%
	AVTR	F	0.19%	0.29%	0.19%
	AVY	C	0.16%	0.21%	0.16%
	AWK	B	0.32%	0.23%	0.23%
	BALL	D	0.24%	0.25%	0.24%
	BAX	F	0.22%	0.35%	0.22%
	BBY	B	0.18%	0.35%	0.18%
	BEN	D	0.09%	0.13%	0.09%
	BG	B	0.2%	0.31%	0.2%
	BIIB	C	0.42%	0.67%	0.42%
	BIO	F	0.07%	0.07%	0.07%
	BJ	B	0.1%	0.13%	0.1%
	BK	A	0.58%	0.91%	0.58%
	BKR	B	0.44%	0.27%	0.27%
	BLDR	F	0.22%	0.36%	0.22%
	BWA	F	0.1%	0.16%	0.1%
	BXP	B	0.12%	0.2%	0.12%
	CAG	D	0.17%	0.27%	0.17%
	CAH	D	0.15%	0.31%	0.15%
	CARR	B	0.68%	0.57%	0.57%
	CASY	B	0.16%	0.09%	0.09%
	CBRE	B	0.35%	0.3%	0.3%
	CCK	F	0.1%	0.12%	0.1%
	CCL	B	0.24%	0.31%	0.24%
	CE	F	0.17%	0.29%	0.17%
	CF	D	0.19%	0.27%	0.19%
	CFG	C	0.21%	0.32%	0.21%
	CG	C	0.11%	0.17%	0.11%
	CHD	C	0.03%	0.17%	0.03%
	CHE	D	0.03%	0.05%	0.03%
	CHK	D	0.13%	0.18%	0.13%
	CHRW	B	0.03%	0.21%	0.03%
	CINF	C	0.23%	0.18%	0.18%
	CLF	D	0.1%	0.15%	0.1%
	CLH	B	0.15%	0.08%	0.08%
	CMI	D	0.49%	0.42%	0.42%
	CMS	D	0.22%	0.25%	0.22%
	CNH	F	0.13%	0.2%	0.13%
	CNP	A	0.25%	0.25%	0.25%
	COO	D	0.22%	0.16%	0.16%
	COTY	D	0.05%	0.04%	0.04%
	CPAY	D	0.02%	0.14%	0.02%
	CPB	C	0.11%	0.18%	0.11%
	CPT	A	0.15%	0.13%	0.13%
	CRL	F	0.14%	0.12%	0.12%
	CTRA	D	0.26%	0.18%	0.18%
	CTSH	C	0.44%	0.7%	0.44%
	CTVA	C	0.49%	0.46%	0.46%
	CUBE	B	0.13%	0.12%	0.12%
	CZR	C	0.06%	0.08%	0.06%
	DAL	D	0.38%	0.29%	0.29%
	DD	B	0.44%	0.33%	0.33%
	DFS	A	0.4%	0.32%	0.32%
	DGX	D	0.2%	0.32%	0.2%
	DHI	D	0.55%	0.89%	0.55%
	DINO	D	0.11%	0.16%	0.11%
	DLR	A	0.6%	0.34%	0.34%
	DLTR	F	0.28%	0.28%	0.28%
	DOC	B	0.17%	0.19%	0.17%
	DOV	B	0.32%	0.23%	0.23%
	DRI	C	0.12%	0.2%	0.12%
	DTE	C	0.29%	0.47%	0.29%
	DVN	C	0.39%	0.41%	0.39%
	EA	B	0.49%	0.27%	0.27%
	EBAY	B	0.33%	0.35%	0.33%
	ED	D	0.4%	0.64%	0.4%
	EG	B	0.18%	0.17%	0.17%
	EIX	D	0.35%	0.57%	0.35%
	ELS	B	0.1%	0.08%	0.08%
	EME	C	0.15%	0.15%	0.15%
	EMN	C	0.15%	0.24%	0.15%
	EQR	A	0.33%	0.34%	0.33%
	EQT	D	0.17%	0.09%	0.09%
	ES	F	0.26%	0.41%	0.26%
	ESS	B	0.22%	0.19%	0.19%
	ETR	C	0.29%	0.46%	0.29%
	ETSY	F	0.04%	0.05%	0.04%
	EVRG	C	0.15%	0.24%	0.15%
	EXPD	B	0.2%	0.22%	0.2%
	EXPE	C	0.06%	0.15%	0.06%
	EXR	B	0.42%	0.39%	0.39%
	FANG	C	0.46%	0.41%	0.41%
	FE	D	0.27%	0.4%	0.27%
	FERG	D	0.48%	0.82%	0.48%
	FFIV	C	0.13%	0.11%	0.11%
	FIS	B	0.57%	0.93%	0.57%
	FITB	C	0.31%	0.47%	0.31%
	FNF	C	0.15%	0.25%	0.15%
	FOX	A	0.06%	0.09%	0.06%
	FOXA	A	0.11%	0.18%	0.11%
	FTV	D	0.33%	0.21%	0.21%
	GEN	B	0.15%	0.29%	0.15%
	GL	C	0.09%	0.16%	0.09%
	GLPI	B	0.15%	0.22%	0.15%
	GLW	B	0.38%	0.63%	0.38%
	GPC	D	0.25%	0.25%	0.25%
	GPN	D	0.32%	0.22%	0.22%
	GRMN	B	0.32%	0.28%	0.28%
	HBAN	C	0.24%	0.36%	0.24%
	HIG	B	0.39%	0.59%	0.39%
	HII	D	0.13%	0.09%	0.09%
	HOLX	C	0.22%	0.35%	0.22%
	HPE	B	0.35%	0.56%	0.35%
	HPQ	B	0.31%	0.64%	0.31%
	HRL	F	0.11%	0.13%	0.11%
	HSIC	F	0.11%	0.16%	0.11%
	IFF	B	0.31%	0.5%	0.31%
	ILMN	F	0.15%	0.21%	0.15%
	INVH	A	0.28%	0.17%	0.17%
	IP	B	0.19%	0.31%	0.19%
	IPG	F	0.14%	0.23%	0.14%
	IQV	F	0.04%	0.27%	0.04%
	IRM	A	0.15%	0.28%	0.15%
	J	D	0.23%	0.14%	0.14%
	JAZZ	F	0.04%	0.14%	0.04%
	JBL	F	0.06%	0.09%	0.06%
	JNPR	B	0.15%	0.23%	0.15%
	K	D	0.19%	0.31%	0.19%
	KBR	C	0.07%	0.06%	0.06%
	KEY	C	0.16%	0.26%	0.16%
	KEYS	D	0.22%	0.26%	0.22%
	KIM	B	0.16%	0.26%	0.16%
	KMX	B	0.14%	0.11%	0.11%
	KNX	C	0.1%	0.15%	0.1%
	KR	D	0.42%	0.69%	0.42%
	L	D	0.18%	0.29%	0.18%
	LBRDA	C	0.01%	0.01%	0.01%
	LBRDK	C	0.06%	0.07%	0.06%
	LDOS	B	0.26%	0.39%	0.26%
	LEN	D	0.46%	0.76%	0.46%
	LEN	D	0.46%	0.03%	0.03%
	LEN	D	0.02%	0.03%	0.02%
	LEN	D	0.02%	0.76%	0.02%
	LH	C	0.22%	0.36%	0.22%
	LKQ	F	0.14%	0.16%	0.14%
	LNT	C	0.17%	0.26%	0.17%
	LUV	B	0.22%	0.2%	0.2%
	LYB	C	0.32%	0.5%	0.32%
	MAA	B	0.21%	0.21%	0.21%
	MAS	D	0.19%	0.31%	0.19%
	MCHP	C	0.17%	0.51%	0.17%
	MKC	D	0.23%	0.16%	0.16%
	MKL	C	0.27%	0.13%	0.13%
	MOH	F	0.1%	0.12%	0.1%
	MOS	D	0.12%	0.18%	0.12%
	MRO	B	0.21%	0.33%	0.21%
	MTB	B	0.32%	0.5%	0.32%
	MTN	D	0.08%	0.06%	0.06%
	NDAQ	C	0.29%	0.33%	0.29%
	NI	B	0.15%	0.26%	0.15%
	NLY	B	0.13%	0.21%	0.13%
	NRG	C	0.23%	0.23%	0.23%
	NTAP	A	0.21%	0.36%	0.21%
	NTRS	C	0.22%	0.35%	0.22%
	NUE	D	0.49%	0.79%	0.49%
	NVR	C	0.26%	0.47%	0.26%
	NWS	A	0.04%	0.06%	0.04%
	NWSA	A	0.14%	0.21%	0.14%
	O	D	0.56%	0.51%	0.51%
	OC	C	0.2%	0.32%	0.2%
	OKE	B	0.57%	0.97%	0.57%
	OMC	D	0.23%	0.35%	0.23%
	ON	F	0.38%	0.38%	0.38%
	OTIS	B	0.48%	0.29%	0.29%
	OVV	C	0.09%	0.24%	0.09%
	PAG	D	0.04%	0.06%	0.04%
	PCAR	D	0.69%	1.13%	0.69%
	PCG	D	0.46%	0.78%	0.46%
	PEG	B	0.47%	0.46%	0.46%
	PFG	D	0.24%	0.39%	0.24%
	PHM	D	0.3%	0.49%	0.3%
	PKG	B	0.21%	0.33%	0.21%
	PNR	D	0.16%	0.11%	0.11%
	PNW	C	0.11%	0.17%	0.11%
	PPG	D	0.28%	0.28%	0.28%
	PPL	D	0.26%	0.42%	0.26%
	PRU	B	0.55%	0.87%	0.55%
	PWR	C	0.36%	0.22%	0.22%
	QRVO	B	0.14%	0.22%	0.14%
	RCL	A	0.34%	0.33%	0.33%
	REG	B	0.14%	0.12%	0.12%
	RF	C	0.23%	0.36%	0.23%
	RGA	B	0.18%	0.27%	0.18%
	RHI	F	0.08%	0.1%	0.08%
	RIVN	C	0.12%	0.14%	0.12%
	RJF	C	0.3%	0.25%	0.25%
	RNR	C	0.11%	0.1%	0.1%
	RPM	D	0.14%	0.1%	0.1%
	RPRX	F	0.13%	0.21%	0.13%
	RRX	F	0.12%	0.11%	0.11%
	RS	D	0.21%	0.33%	0.21%
	RVTY	D	0.17%	0.27%	0.17%
	SCI	B	0.08%	0.15%	0.08%
	SIRI	F	0.02%	0.04%	0.02%
	SJM	F	0.14%	0.24%	0.14%
	SNA	D	0.17%	0.17%	0.17%
	SNX	C	0.1%	0.14%	0.1%
	SPG	B	0.49%	0.98%	0.49%
	SSNC	B	0.17%	0.28%	0.17%
	STLD	C	0.24%	0.4%	0.24%
	STT	C	0.28%	0.46%	0.28%
	SUI	C	0.15%	0.13%	0.13%
	SWK	F	0.16%	0.26%	0.16%
	SWKS	B	0.22%	0.34%	0.22%
	SYF	A	0.23%	0.36%	0.23%
	TAP	F	0.11%	0.19%	0.11%
	TDY	D	0.23%	0.15%	0.15%
	TER	B	0.05%	0.23%	0.05%
	TFX	D	0.12%	0.11%	0.11%
	TRMB	C	0.17%	0.13%	0.13%
	TROW	B	0.33%	0.54%	0.33%
	TRU	C	0.18%	0.11%	0.11%
	TSN	C	0.2%	0.31%	0.2%
	TXT	D	0.22%	0.18%	0.18%
	UAL	D	0.2%	0.2%	0.2%
	UDR	B	0.16%	0.13%	0.13%
	UHAL	D	0.05%	0.01%	0.01%
	UHAL	D	0.0%	0.01%	0.0%
	UHAL	D	0.0%	0.07%	0.0%
	UHAL	D	0.05%	0.07%	0.05%
	UHS	B	0.15%	0.23%	0.15%
	UNM	C	0.1%	0.16%	0.1%
	URI	C	0.43%	0.38%	0.38%
	USFD	B	0.16%	0.11%	0.11%
	UTHR	A	0.18%	0.3%	0.18%
	VICI	C	0.38%	0.28%	0.28%
	VST	C	0.28%	0.29%	0.28%
	VTR	A	0.26%	0.23%	0.23%
	VTRS	D	0.16%	0.24%	0.16%
	WAB	D	0.37%	0.19%	0.19%
	WBA	F	0.11%	0.23%	0.11%
	WDC	B	0.32%	0.47%	0.32%
	WEC	D	0.32%	0.51%	0.32%
	WELL	A	0.74%	0.45%	0.45%
	WLK	D	0.06%	0.06%	0.06%
	WMB	A	0.66%	1.06%	0.66%
	WPC	D	0.16%	0.25%	0.16%
	WRB	C	0.21%	0.12%	0.12%
	WRK	D	0.16%	0.26%	0.16%
	WSM	C	0.21%	0.23%	0.21%
	WSO	C	0.15%	0.14%	0.14%
	WTRG	C	0.12%	0.11%	0.11%
	WTW	B	0.31%	0.28%	0.28%
	WY	F	0.27%	0.4%	0.27%
	XEL	D	0.38%	0.6%	0.38%
	XPO	D	0.15%	0.12%	0.12%
	Z	C	0.09%	0.08%	0.08%
	ZBH	D	0.29%	0.43%	0.29%
	ZBRA	C	0.16%	0.16%	0.16%
	ZG	C	0.03%	0.03%	0.03%

IWS Overweight 431 Positions Relative to IMCV

	Symbol	Grade	Weight
	CEG	C	0.85%
	PH	C	0.83%
	PSX	D	0.79%
	MRVL	C	0.75%
	TDG	C	0.73%
	TT	B	0.69%
	AJG	B	0.68%
	KKR	B	0.68%
	AFL	B	0.67%
	RSG	A	0.52%
	APH	B	0.5%
	AME	D	0.49%
	COIN	C	0.49%
	IR	C	0.47%
	MLM	D	0.43%
	HWM	C	0.39%
	XYL	C	0.37%
	HLT	A	0.37%
	VRT	D	0.36%
	FSLR	C	0.34%
	VMC	D	0.33%
	TTWO	B	0.33%
	HAL	D	0.31%
	STE	C	0.28%
	ICLR	C	0.28%
	SQ	D	0.28%
	CSL	C	0.26%
	MSCI	F	0.24%
	APTV	F	0.24%
	SBAC	D	0.24%
	ENTG	B	0.24%
	HES	D	0.23%
	CSGP	D	0.22%
	LII	B	0.22%
	FCNCA	C	0.21%
	WBD	D	0.21%
	VRSN	C	0.19%
	ZM	D	0.19%
	BMRN	C	0.18%
	IEX	D	0.18%
	THC	B	0.18%
	FWONK	B	0.18%
	HOOD	B	0.18%
	BRO	B	0.17%
	NDSN	D	0.17%
	OKTA	C	0.17%
	APP	B	0.16%
	NVT	D	0.16%
	HST	D	0.16%
	IBKR	B	0.16%
	BLD	D	0.15%
	DKS	B	0.15%
	MGM	B	0.15%
	TOL	D	0.15%
	ITT	C	0.14%
	WWD	C	0.14%
	ALLY	B	0.14%
	SAIA	B	0.14%
	HUBB	D	0.14%
	LYV	C	0.14%
	GWRE	A	0.14%
	FTI	C	0.14%
	PTC	C	0.13%
	EWBC	C	0.13%
	CTLT	B	0.13%
	JBHT	F	0.13%
	CW	B	0.13%
	NTNX	D	0.13%
	JEF	A	0.12%
	EFX	B	0.12%
	DOX	D	0.12%
	FAST	F	0.12%
	QGEN	D	0.12%
	COHR	B	0.12%
	REXR	C	0.12%
	TTEK	C	0.12%
	ATR	D	0.12%
	NU	A	0.12%
	CACI	B	0.12%
	JLL	B	0.12%
	FRT	C	0.11%
	JKHY	B	0.11%
	RGLD	C	0.11%
	FBIN	F	0.11%
	FHN	C	0.11%
	OHI	A	0.11%
	CNM	D	0.11%
	WYNN	D	0.11%
	MKSI	B	0.11%
	SKX	B	0.11%
	ARMK	A	0.11%
	BBWI	F	0.11%
	AIZ	D	0.11%
	TPR	B	0.11%
	SWN	D	0.1%
	DASH	D	0.1%
	NOV	B	0.1%
	AYI	D	0.1%
	INGR	D	0.1%
	HAS	C	0.1%
	RBC	C	0.1%
	EGP	B	0.1%
	NNN	A	0.1%
	GDDY	B	0.1%
	GGG	D	0.1%
	GNTX	D	0.1%
	RRC	D	0.1%
	TWLO	D	0.1%
	SF	A	0.1%
	EHC	B	0.1%
	ORI	C	0.1%
	CGNX	C	0.1%
	TW	C	0.1%
	GNRC	D	0.1%
	NYT	A	0.1%
	X	D	0.1%
	LEA	F	0.09%
	GME	C	0.09%
	AXTA	D	0.09%
	AGNC	B	0.09%
	CTAS	B	0.09%
	MTZ	C	0.09%
	DAY	F	0.09%
	CRUS	A	0.09%
	BERY	D	0.09%
	AFRM	F	0.09%
	LAD	D	0.09%
	AA	C	0.09%
	BRX	B	0.09%
	VOYA	D	0.09%
	DTM	A	0.09%
	RL	B	0.09%
	OSK	C	0.09%
	EVR	A	0.09%
	CIEN	C	0.09%
	CR	B	0.09%
	WCC	F	0.09%
	OWL	C	0.09%
	COLD	C	0.09%
	ELAN	C	0.09%
	KEX	B	0.09%
	A	D	0.09%
	WBS	D	0.09%
	OGE	C	0.09%
	BWXT	B	0.09%
	PNFP	C	0.08%
	MTG	B	0.08%
	WTFC	C	0.08%
	CFR	C	0.08%
	PARA	D	0.08%
	FCN	C	0.08%
	KD	B	0.08%
	AZEK	D	0.08%
	NCLH	B	0.08%
	FMC	D	0.08%
	ESI	B	0.08%
	ADC	B	0.08%
	ACHC	D	0.08%
	ALNY	B	0.08%
	ALSN	C	0.08%
	SAIC	D	0.08%
	BPOP	C	0.08%
	ZION	C	0.08%
	LFUS	C	0.08%
	TPX	D	0.08%
	FR	C	0.08%
	SOFI	D	0.08%
	HLI	A	0.08%
	FLS	C	0.08%
	PVH	F	0.08%
	FYBR	B	0.08%
	STAG	B	0.08%
	HR	B	0.08%
	SEIC	D	0.08%
	ROKU	D	0.08%
	ARW	F	0.08%
	H	B	0.08%
	MIDD	F	0.08%
	CBSH	C	0.08%
	WAL	C	0.08%
	SON	F	0.07%
	MDU	B	0.07%
	M	C	0.07%
	BILL	F	0.07%
	AMG	C	0.07%
	EXAS	F	0.07%
	LPX	C	0.07%
	RITM	D	0.07%
	POST	C	0.07%
	PB	C	0.07%
	VMI	B	0.07%
	OGN	B	0.07%
	XRAY	F	0.07%
	WSC	F	0.07%
	OLED	A	0.07%
	XP	F	0.07%
	BFAM	C	0.07%
	SRCL	B	0.07%
	R	B	0.07%
	HXL	F	0.07%
	WHR	C	0.07%
	FAF	D	0.07%
	ESAB	D	0.07%
	IVZ	D	0.07%
	OMF	C	0.07%
	AZPN	C	0.07%
	PFGC	D	0.07%
	SNV	A	0.07%
	AXS	B	0.07%
	ST	D	0.07%
	CMA	C	0.07%
	WH	C	0.07%
	STWD	C	0.07%
	DAR	D	0.07%
	MHK	C	0.07%
	OLN	F	0.07%
	GXO	D	0.07%
	MAT	F	0.07%
	AIRC	A	0.07%
	MSA	B	0.07%
	GMED	A	0.07%
	OZK	D	0.06%
	S	D	0.06%
	LNC	B	0.06%
	RLI	D	0.06%
	WTM	B	0.06%
	THG	C	0.06%
	AN	D	0.06%
	YUM	D	0.06%
	CCCS	D	0.06%
	VNO	B	0.06%
	BC	F	0.06%
	JHG	B	0.06%
	AAL	F	0.06%
	DLB	D	0.06%
	AVT	C	0.06%
	IDA	C	0.06%
	GFS	C	0.06%
	UGI	C	0.06%
	GPS	C	0.06%
	ASH	D	0.06%
	THO	D	0.06%
	FNB	C	0.06%
	VFC	C	0.06%
	ANSS	D	0.06%
	TKR	D	0.06%
	NFG	D	0.06%
	AL	C	0.06%
	DCI	D	0.06%
	ALK	D	0.06%
	TYL	A	0.06%
	AWI	D	0.05%
	KMPR	C	0.05%
	MSM	D	0.05%
	KRC	D	0.05%
	SITE	F	0.05%
	CPRI	D	0.05%
	DXC	C	0.05%
	AAP	F	0.05%
	GPK	D	0.05%
	HUN	F	0.05%
	PII	F	0.05%
	BR	C	0.05%
	RGEN	D	0.05%
	BYD	D	0.05%
	BEPC	C	0.05%
	VNT	D	0.05%
	COLB	D	0.05%
	WEX	D	0.05%
	LAZ	C	0.05%
	FRPT	B	0.05%
	OLLI	B	0.05%
	VVV	B	0.05%
	PSTG	B	0.05%
	FLO	D	0.05%
	HOG	D	0.05%
	AGO	C	0.05%
	G	D	0.05%
	RYN	D	0.05%
	SLM	C	0.04%
	HRB	A	0.04%
	CNXC	D	0.04%
	MPW	F	0.04%
	RUN	D	0.04%
	PENN	C	0.04%
	WOLF	F	0.04%
	AZTA	D	0.04%
	GTES	D	0.04%
	W	D	0.04%
	LOPE	C	0.04%
	AMED	F	0.04%
	VAC	D	0.04%
	U	F	0.04%
	CXT	B	0.04%
	PRI	B	0.04%
	INCY	B	0.04%
	EPR	B	0.04%
	NSA	B	0.04%
	PK	C	0.04%
	RH	D	0.04%
	CACC	C	0.04%
	NEU	F	0.04%
	ROST	B	0.04%
	PLNT	B	0.04%
	LITE	B	0.04%
	LSXMK	D	0.04%
	RBA	B	0.04%
	MAN	F	0.04%
	AM	B	0.04%
	NXST	C	0.04%
	SPR	B	0.04%
	CUZ	C	0.04%
	CC	F	0.04%
	MSGS	C	0.04%
	PRGO	F	0.04%
	IAC	D	0.04%
	SLGN	D	0.04%
	ADT	B	0.03%
	IART	C	0.03%
	NCNO	C	0.03%
	SEE	D	0.03%
	GO	D	0.03%
	HHH	F	0.03%
	TPG	D	0.03%
	CWEN	C	0.03%
	PINC	F	0.03%
	NYCB	F	0.03%
	CRI	F	0.03%
	TNDM	D	0.03%
	ENOV	D	0.03%
	EEFT	D	0.03%
	LAMR	A	0.03%
	ODFL	D	0.03%
	JWN	B	0.03%
	ICUI	B	0.03%
	NWL	F	0.03%
	IPGP	D	0.03%
	DNB	D	0.03%
	BOKF	C	0.03%
	WU	D	0.03%
	EXP	D	0.03%
	SPB	C	0.03%
	BHF	D	0.03%
	KSS	D	0.03%
	FHB	C	0.03%
	NVST	F	0.03%
	CLVT	D	0.03%
	HIW	B	0.03%
	COLM	D	0.03%
	AMC	D	0.02%
	PLUG	F	0.02%
	INFA	B	0.02%
	UAA	D	0.02%
	SNDR	B	0.02%
	CAR	F	0.02%
	MP	F	0.02%
	LSTR	B	0.02%
	UA	D	0.02%
	VSTS	D	0.02%
	LEG	F	0.02%
	MRCY	F	0.02%
	HEI	B	0.02%
	VSAT	F	0.02%
	FWONA	C	0.02%
	REYN	C	0.02%
	LSXMA	D	0.02%
	PPC	A	0.02%
	VYX	F	0.02%
	TDOC	F	0.02%
	HAYW	F	0.02%
	TNL	B	0.02%
	DOCS	B	0.02%
	QS	F	0.02%
	NATL	B	0.02%
	CDW	D	0.02%
	LLYVK	C	0.02%
	CABO	F	0.02%
	PHIN	D	0.02%
	QDEL	F	0.02%
	ZI	F	0.02%
	FTRE	D	0.02%
	EXEL	B	0.02%
	TRIP	D	0.02%
	RCM	B	0.02%
	VIRT	C	0.02%
	LCID	F	0.02%
	DNA	F	0.01%
	PYCR	F	0.01%
	SHC	C	0.01%
	HTZ	F	0.01%
	UWMC	C	0.01%
	MUSA	B	0.01%
	MCW	C	0.01%
	TFSL	C	0.01%
	TECH	D	0.01%
	DBX	D	0.01%
	SEB	D	0.01%
	LW	F	0.01%
	LECO	D	0.01%
	LLYVA	C	0.01%
	BSY	D	0.01%
	DRVN	D	0.01%
	MTCH	F	0.01%
	VSCO	F	0.01%
	CWEN	C	0.01%
	SSRM	F	0.01%
	IONS	B	0.01%
	BIRK	B	0.01%
	HCP	A	0.01%
	CAVA	B	0.01%
	HE	F	0.01%
	HEI	B	0.01%
	CERT	D	0.01%
	KLG	F	0.01%
	RKT	C	0.01%
	PATH	F	0.01%
	CNA	A	0.01%
	RNAC	C	0.0%
	PLTK	F	0.0%
	UI	B	0.0%
	OLPX	D	0.0%
	PARAA	D	0.0%
	ROIV	D	0.0%
	CART	F	0.0%
	IRDM	F	0.0%
	AGL	D	0.0%
	WOOF	C	0.0%
	SAM	C	0.0%
	GRAL	D	0.0%
	MRVI	D	0.0%
	NLOP	B	0.0%

IWS Underweight 45 Positions Relative to IMCV

	Symbol	Grade	Weight
	GM	B	-1.13%
	COF	C	-1.04%
	AIG	D	-1.04%
	TFC	C	-1.0%
	NEM	B	-0.98%
	F	C	-0.96%
	AEP	C	-0.94%
	MRNA	D	-0.88%
	D	D	-0.85%
	NXPI	B	-0.84%
	LHX	A	-0.82%
	KMI	A	-0.8%
	DOW	D	-0.78%
	GIS	D	-0.77%
	COR	C	-0.76%
	CNC	F	-0.74%
	EXC	D	-0.71%
	ADM	F	-0.66%
	TRV	D	-0.62%
	KMB	B	-0.59%
	DG	D	-0.57%
	CCI	C	-0.56%
	KHC	D	-0.53%
	TEL	B	-0.49%
	DELL	C	-0.49%
	JCI	C	-0.48%
	STX	B	-0.44%
	APO	A	-0.41%
	AMP	C	-0.39%
	STZ	B	-0.34%
	GEHC	D	-0.33%
	LNG	B	-0.31%
	TSCO	C	-0.28%
	TRGP	A	-0.26%
	EQH	B	-0.25%
	CPNG	D	-0.19%
	CLX	D	-0.19%
	ULTA	F	-0.17%
	VLTO	C	-0.17%
	ALGN	F	-0.16%
	FLEX	C	-0.15%
	POOL	F	-0.13%
	SNAP	B	-0.13%
	WAT	F	-0.13%
	BAH	B	-0.12%

IWS: Top Represented Industries & Keywords

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

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

IMCV: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric REIT - Residential Oil & Gas E&P Asset Management Diagnostics & Research Packaged Foods Specialty Retail Banks - Regional - US Business Services Insurance - Property & Casualty Specialty Chemicals Diversified Industrials Engineering & Construction Packaging & Containers Utilities - Diversified Oil & Gas Midstream REIT - Diversified Scientific & Technical Instruments Semiconductors Biotechnology

Keywords: S&P 500 Natural Gas Electricity Insurance Nasdaq 100 Real Estate Investment Trust Aerospace Chemical Electronics Beverage Insurance Products Bank Computing Banking Food Products Mining Oil And Gas Transport Biotechnology Disability