IWS vs. MFUS ETF Comparison

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

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

$131.46

Average Daily Volume

286,589

Number of Holdings ^*

706

* 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	IWS	MFUS
30 Days	3.11%	3.55%
60 Days	9.24%	10.60%
90 Days	10.48%	6.54%
12 Months	31.20%	36.03%

432 Overlapping Holdings

Symbol	Grade	Weight in IWS	Weight in MFUS	Overlap
A	B	0.48%	0.05%	0.05%
AA	B	0.11%	0.01%	0.01%
AAP	F	0.03%	0.01%	0.01%
ACI	F	0.09%	0.01%	0.01%
ACM	A	0.16%	0.03%	0.03%
ADC	C	0.08%	0.01%	0.01%
ADM	F	0.32%	0.25%	0.25%
AES	C	0.16%	0.02%	0.02%
AFL	A	0.71%	0.22%	0.22%
AGCO	D	0.07%	0.02%	0.02%
AGNC	B	0.09%	0.04%	0.04%
AIZ	B	0.12%	0.08%	0.08%
AJG	C	0.65%	0.14%	0.14%
AKAM	D	0.17%	0.03%	0.03%
ALGN	D	0.09%	0.02%	0.02%
ALL	A	0.47%	0.26%	0.26%
ALLY	F	0.09%	0.05%	0.05%
ALNY	C	0.04%	0.07%	0.04%
ALSN	A	0.1%	0.09%	0.09%
AMED	D	0.03%	0.01%	0.01%
AMG	B	0.06%	0.06%	0.06%
AMH	D	0.14%	0.04%	0.04%
AMKR	F	0.04%	0.03%	0.03%
AMP	A	0.05%	0.12%	0.05%
AN	D	0.05%	0.07%	0.05%
ANSS	D	0.31%	0.05%	0.05%
AOS	C	0.12%	0.1%	0.1%
APG	F	0.08%	0.02%	0.02%
AR	C	0.09%	0.04%	0.04%
ARMK	C	0.11%	0.01%	0.01%
ARW	C	0.08%	0.05%	0.05%
ATI	C	0.09%	0.05%	0.05%
ATO	A	0.23%	0.02%	0.02%
ATR	A	0.12%	0.08%	0.08%
AVB	C	0.35%	0.03%	0.03%
AVT	B	0.05%	0.04%	0.04%
AVTR	D	0.19%	0.04%	0.04%
AVY	D	0.12%	0.1%	0.1%
AWI	A	0.04%	0.03%	0.03%
AXTA	C	0.09%	0.02%	0.02%
AYI	A	0.1%	0.08%	0.08%
BALL	C	0.23%	0.08%	0.08%
BAX	D	0.21%	0.05%	0.05%
BBWI	F	0.08%	0.01%	0.01%
BBY	C	0.25%	0.23%	0.23%
BC	C	0.06%	0.06%	0.06%
BEN	F	0.06%	0.02%	0.02%
BERY	C	0.09%	0.06%	0.06%
BFAM	C	0.08%	0.03%	0.03%
BHF	D	0.03%	0.04%	0.03%
BIIB	F	0.31%	0.08%	0.08%
BJ	B	0.13%	0.03%	0.03%
BK	A	0.59%	0.17%	0.17%
BKR	B	0.41%	0.07%	0.07%
BLD	D	0.13%	0.04%	0.04%
BLDR	C	0.24%	0.04%	0.04%
BMRN	F	0.15%	0.01%	0.01%
BR	B	0.02%	0.16%	0.02%
BRKR	D	0.03%	0.02%	0.02%
BRO	A	0.16%	0.11%	0.11%
BWA	C	0.09%	0.01%	0.01%
BWXT	A	0.09%	0.09%	0.09%
BXP	B	0.14%	0.02%	0.02%
CACC	F	0.01%	0.01%	0.01%
CACI	A	0.12%	0.09%	0.09%
CAG	D	0.17%	0.05%	0.05%
CAH	B	0.12%	0.24%	0.12%
CASY	D	0.13%	0.15%	0.13%
CBRE	C	0.42%	0.05%	0.05%
CBSH	D	0.08%	0.01%	0.01%
CC	D	0.03%	0.02%	0.02%
CCI	D	0.58%	0.08%	0.08%
CCK	C	0.13%	0.06%	0.06%
CCL	C	0.2%	0.02%	0.02%
CDW	D	0.16%	0.04%	0.04%
CE	D	0.12%	0.04%	0.04%
CFG	C	0.2%	0.03%	0.03%
CFR	B	0.07%	0.01%	0.01%
CG	B	0.11%	0.02%	0.02%
CHD	D	0.29%	0.07%	0.07%
CHE	D	0.09%	0.06%	0.06%
CHRW	C	0.14%	0.14%	0.14%
CHTR	D	0.35%	0.25%	0.25%
CINF	A	0.24%	0.02%	0.02%
CLF	D	0.05%	0.01%	0.01%
CLH	B	0.14%	0.04%	0.04%
CMA	C	0.09%	0.04%	0.04%
CMI	A	0.5%	0.13%	0.13%
CMS	A	0.24%	0.03%	0.03%
CNC	F	0.44%	0.06%	0.06%
CNM	F	0.03%	0.01%	0.01%
COHR	B	0.13%	0.03%	0.03%
COIN	F	0.06%	0.06%	0.06%
COKE	C	0.09%	0.03%	0.03%
COLD	D	0.09%	0.04%	0.04%
CPB	D	0.1%	0.05%	0.05%
CPRI	C	0.05%	0.01%	0.01%
CPT	C	0.14%	0.06%	0.06%
CR	A	0.09%	0.01%	0.01%
CRI	D	0.03%	0.06%	0.03%
CROX	C	0.08%	0.02%	0.02%
CRUS	D	0.07%	0.04%	0.04%
CSL	A	0.2%	0.02%	0.02%
CTLT	A	0.12%	0.02%	0.02%
CTVA	A	0.46%	0.04%	0.04%
CUBE	C	0.13%	0.05%	0.05%
CW	A	0.14%	0.1%	0.1%
CWEN	C	0.03%	0.02%	0.02%
CWEN	C	0.01%	0.02%	0.01%
DCI	B	0.1%	0.04%	0.04%
DD	C	0.41%	0.11%	0.11%
DDS	D	0.01%	0.03%	0.01%
DFS	A	0.38%	0.08%	0.08%
DG	F	0.21%	0.1%	0.1%
DGX	D	0.19%	0.09%	0.09%
DHI	C	0.64%	0.07%	0.07%
DINO	F	0.08%	0.01%	0.01%
DKS	D	0.12%	0.09%	0.09%
DLB	D	0.05%	0.02%	0.02%
DLR	C	0.58%	0.08%	0.08%
DLTR	F	0.16%	0.03%	0.03%
DOV	C	0.29%	0.02%	0.02%
DOW	B	0.43%	0.02%	0.02%
DOX	B	0.11%	0.03%	0.03%
DPZ	D	0.11%	0.13%	0.11%
DRI	C	0.1%	0.03%	0.03%
DTE	B	0.3%	0.02%	0.02%
DTM	A	0.09%	0.01%	0.01%
DXC	C	0.04%	0.01%	0.01%
EA	D	0.43%	0.16%	0.16%
EBAY	A	0.37%	0.38%	0.37%
ED	C	0.41%	0.06%	0.06%
EFX	D	0.32%	0.13%	0.13%
EHC	C	0.11%	0.09%	0.09%
EIX	C	0.37%	0.05%	0.05%
ELAN	D	0.08%	0.01%	0.01%
ELS	D	0.15%	0.04%	0.04%
EME	B	0.14%	0.04%	0.04%
EMN	C	0.15%	0.04%	0.04%
EQR	C	0.31%	0.04%	0.04%
ES	D	0.27%	0.04%	0.04%
ESAB	C	0.07%	0.01%	0.01%
ESI	C	0.07%	0.01%	0.01%
ESS	D	0.21%	0.02%	0.02%
ETR	A	0.32%	0.04%	0.04%
EVR	C	0.1%	0.11%	0.1%
EVRG	C	0.15%	0.02%	0.02%
EWBC	B	0.12%	0.02%	0.02%
EXC	C	0.46%	0.07%	0.07%
EXEL	B	0.01%	0.04%	0.01%
EXP	C	0.03%	0.06%	0.03%
EXPD	D	0.17%	0.09%	0.09%
EXR	D	0.42%	0.13%	0.13%
FAF	C	0.07%	0.02%	0.02%
FANG	D	0.38%	0.05%	0.05%
FAST	C	0.07%	0.11%	0.07%
FCN	C	0.09%	0.06%	0.06%
FCNCA	D	0.24%	0.05%	0.05%
FDS	C	0.13%	0.04%	0.04%
FE	C	0.29%	0.03%	0.03%
FFIV	B	0.14%	0.06%	0.06%
FHN	D	0.09%	0.01%	0.01%
FICO	C	0.08%	0.21%	0.08%
FIS	A	0.53%	0.07%	0.07%
FITB	C	0.32%	0.04%	0.04%
FLO	D	0.05%	0.04%	0.04%
FNF	C	0.18%	0.03%	0.03%
FOXA	B	0.11%	0.1%	0.1%
FR	D	0.08%	0.02%	0.02%
FTI	B	0.13%	0.04%	0.04%
FYBR	C	0.1%	0.01%	0.01%
G	A	0.08%	0.05%	0.05%
GAP	F	0.05%	0.05%	0.05%
GEHC	C	0.41%	0.08%	0.08%
GGG	C	0.16%	0.03%	0.03%
GIS	C	0.47%	0.2%	0.2%
GLPI	C	0.15%	0.07%	0.07%
GLW	C	0.38%	0.19%	0.19%
GME	D	0.09%	0.01%	0.01%
GMED	B	0.09%	0.02%	0.02%
GNRC	B	0.05%	0.05%	0.05%
GNTX	D	0.08%	0.05%	0.05%
GPK	D	0.1%	0.08%	0.08%
GWRE	A	0.09%	0.02%	0.02%
GWW	B	0.07%	0.19%	0.07%
H	B	0.06%	0.01%	0.01%
HBAN	B	0.23%	0.03%	0.03%
HIG	A	0.39%	0.06%	0.06%
HII	F	0.12%	0.03%	0.03%
HLI	A	0.09%	0.07%	0.07%
HLT	A	0.31%	0.09%	0.09%
HOG	D	0.05%	0.03%	0.03%
HOLX	D	0.21%	0.03%	0.03%
HOOD	B	0.17%	0.03%	0.03%
HPE	B	0.29%	0.1%	0.1%
HPQ	B	0.29%	0.29%	0.29%
HRB	C	0.08%	0.08%	0.08%
HRL	F	0.1%	0.02%	0.02%
HSIC	D	0.1%	0.03%	0.03%
HST	D	0.14%	0.02%	0.02%
HSY	D	0.27%	0.06%	0.06%
HUBB	A	0.26%	0.03%	0.03%
HUN	B	0.04%	0.01%	0.01%
HWM	A	0.43%	0.15%	0.15%
HXL	F	0.06%	0.03%	0.03%
IBKR	A	0.16%	0.05%	0.05%
IEX	D	0.18%	0.08%	0.08%
IFF	D	0.3%	0.04%	0.04%
INCY	B	0.11%	0.01%	0.01%
INGR	B	0.1%	0.06%	0.06%
INVH	D	0.24%	0.04%	0.04%
IP	C	0.19%	0.08%	0.08%
IPG	D	0.13%	0.04%	0.04%
IR	A	0.44%	0.08%	0.08%
IRM	B	0.17%	0.12%	0.12%
ITT	C	0.14%	0.08%	0.08%
IVZ	A	0.07%	0.03%	0.03%
JBHT	D	0.16%	0.02%	0.02%
JBL	C	0.14%	0.03%	0.03%
JEF	A	0.09%	0.02%	0.02%
JHG	A	0.05%	0.04%	0.04%
JKHY	A	0.15%	0.1%	0.1%
JLL	C	0.1%	0.06%	0.06%
JNPR	C	0.14%	0.13%	0.13%
JWN	D	0.02%	0.04%	0.02%
K	B	0.24%	0.15%	0.15%
KBR	A	0.09%	0.02%	0.02%
KD	D	0.06%	0.04%	0.04%
KEX	C	0.08%	0.02%	0.02%
KEY	B	0.17%	0.02%	0.02%
KIM	C	0.17%	0.02%	0.02%
KMI	A	0.49%	0.09%	0.09%
KMPR	D	0.04%	0.02%	0.02%
KNX	D	0.09%	0.01%	0.01%
KR	C	0.42%	0.37%	0.37%
KSS	D	0.03%	0.03%	0.03%
L	C	0.16%	0.06%	0.06%
LAD	C	0.1%	0.02%	0.02%
LAMR	C	0.1%	0.05%	0.05%
LBRDK	C	0.07%	0.02%	0.02%
LDOS	A	0.25%	0.11%	0.11%
LEA	F	0.07%	0.01%	0.01%
LECO	D	0.08%	0.05%	0.05%
LEG	D	0.02%	0.02%	0.02%
LEN	C	0.5%	0.07%	0.07%
LEN	C	0.02%	0.07%	0.02%
LHX	A	0.52%	0.23%	0.23%
LNC	B	0.06%	0.03%	0.03%
LNT	B	0.18%	0.02%	0.02%
LOPE	D	0.03%	0.04%	0.03%
LPX	C	0.02%	0.08%	0.02%
LSTR	F	0.07%	0.09%	0.07%
LW	D	0.07%	0.03%	0.03%
LYB	B	0.28%	0.18%	0.18%
M	D	0.05%	0.02%	0.02%
MAA	D	0.21%	0.02%	0.02%
MAN	D	0.04%	0.03%	0.03%
MAS	C	0.21%	0.06%	0.06%
MASI	B	0.03%	0.03%	0.03%
MDU	C	0.06%	0.03%	0.03%
MHK	C	0.09%	0.01%	0.01%
MKC	C	0.24%	0.06%	0.06%
MKSI	F	0.07%	0.01%	0.01%
MKTX	B	0.11%	0.02%	0.02%
MLM	F	0.35%	0.07%	0.07%
MOS	F	0.1%	0.01%	0.01%
MRO	B	0.17%	0.03%	0.03%
MSA	F	0.07%	0.03%	0.03%
MSCI	B	0.21%	0.06%	0.06%
MSM	D	0.04%	0.06%	0.04%
MTB	A	0.32%	0.03%	0.03%
MTD	C	0.35%	0.1%	0.1%
MTG	A	0.07%	0.03%	0.03%
MTN	D	0.01%	0.05%	0.01%
NDAQ	C	0.34%	0.05%	0.05%
NDSN	C	0.17%	0.05%	0.05%
NEU	F	0.04%	0.03%	0.03%
NFG	A	0.06%	0.05%	0.05%
NI	A	0.18%	0.02%	0.02%
NNN	C	0.1%	0.01%	0.01%
NOV	F	0.07%	0.01%	0.01%
NRG	A	0.13%	0.07%	0.07%
NTAP	D	0.16%	0.1%	0.1%
NTRS	B	0.2%	0.03%	0.03%
NUE	D	0.41%	0.08%	0.08%
NVR	C	0.32%	0.1%	0.1%
NWL	D	0.04%	0.02%	0.02%
NWSA	D	0.11%	0.04%	0.04%
NXST	D	0.04%	0.05%	0.04%
NYT	C	0.1%	0.04%	0.04%
O	C	0.62%	0.06%	0.06%
OC	C	0.17%	0.02%	0.02%
OGN	F	0.05%	0.05%	0.05%
OHI	C	0.11%	0.02%	0.02%
OKE	A	0.6%	0.09%	0.09%
OLN	D	0.06%	0.04%	0.04%
OMC	C	0.22%	0.06%	0.06%
OMF	D	0.06%	0.02%	0.02%
OSK	F	0.07%	0.03%	0.03%
OTIS	A	0.47%	0.08%	0.08%
PAG	D	0.03%	0.02%	0.02%
PARA	F	0.07%	0.01%	0.01%
PAYX	B	0.33%	0.04%	0.04%
PB	D	0.07%	0.01%	0.01%
PEG	A	0.51%	0.06%	0.06%
PFG	A	0.22%	0.01%	0.01%
PHM	C	0.33%	0.11%	0.11%
PINC	F	0.02%	0.02%	0.02%
PK	D	0.03%	0.06%	0.03%
PKG	B	0.21%	0.07%	0.07%
PNR	C	0.18%	0.02%	0.02%
PNW	C	0.12%	0.01%	0.01%
POST	C	0.06%	0.05%	0.05%
PPC	C	0.02%	0.01%	0.01%
PPG	D	0.34%	0.05%	0.05%
PPL	C	0.28%	0.04%	0.04%
PRU	B	0.48%	0.23%	0.23%
PSN	A	0.05%	0.02%	0.02%
PSTG	F	0.02%	0.04%	0.02%
PTC	B	0.09%	0.04%	0.04%
PVH	D	0.06%	0.02%	0.02%
PWR	A	0.33%	0.11%	0.11%
QRVO	F	0.11%	0.01%	0.01%
R	C	0.07%	0.07%	0.07%
RBC	C	0.1%	0.01%	0.01%
RCL	B	0.3%	0.08%	0.08%
RF	B	0.23%	0.01%	0.01%
RGA	B	0.16%	0.06%	0.06%
RGLD	C	0.1%	0.04%	0.04%
RHI	D	0.08%	0.02%	0.02%
RKT	D	0.03%	0.01%	0.01%
RL	B	0.09%	0.03%	0.03%
RLI	A	0.07%	0.03%	0.03%
RMD	C	0.28%	0.17%	0.17%
RPM	A	0.13%	0.12%	0.12%
RPRX	D	0.12%	0.03%	0.03%
RRC	D	0.08%	0.02%	0.02%
RS	D	0.19%	0.04%	0.04%
RYN	C	0.05%	0.03%	0.03%
SAIC	A	0.08%	0.01%	0.01%
SAM	D	0.02%	0.02%	0.02%
SBAC	C	0.29%	0.03%	0.03%
SCI	D	0.13%	0.06%	0.06%
SEB	F	0.01%	0.05%	0.01%
SEE	C	0.03%	0.06%	0.03%
SEIC	B	0.08%	0.07%	0.07%
SF	A	0.1%	0.01%	0.01%
SJM	D	0.14%	0.04%	0.04%
SKX	B	0.09%	0.02%	0.02%
SLGN	B	0.05%	0.05%	0.05%
SLM	B	0.05%	0.05%	0.05%
SMG	C	0.04%	0.04%	0.04%
SNDR	D	0.01%	0.02%	0.01%
SNV	D	0.07%	0.01%	0.01%
SON	D	0.06%	0.04%	0.04%
SPB	C	0.03%	0.01%	0.01%
SPG	A	0.46%	0.16%	0.16%
SPR	D	0.04%	0.01%	0.01%
SQ	D	0.24%	0.05%	0.05%
SRCL	B	0.06%	0.04%	0.04%
SSNC	C	0.18%	0.02%	0.02%
STE	D	0.26%	0.08%	0.08%
STLD	C	0.22%	0.04%	0.04%
SUI	D	0.19%	0.05%	0.05%
SYF	A	0.22%	0.24%	0.22%
SYY	D	0.17%	0.13%	0.13%
TAP	D	0.11%	0.08%	0.08%
TER	C	0.02%	0.04%	0.02%
TFX	C	0.13%	0.03%	0.03%
THC	D	0.17%	0.29%	0.17%
THG	A	0.06%	0.04%	0.04%
THO	C	0.06%	0.07%	0.06%
TKR	B	0.06%	0.04%	0.04%
TOL	C	0.18%	0.06%	0.06%
TPR	B	0.12%	0.01%	0.01%
TROW	D	0.26%	0.08%	0.08%
TSN	D	0.19%	0.16%	0.16%
TTC	F	0.1%	0.07%	0.07%
TTEK	A	0.11%	0.02%	0.02%
TTWO	D	0.29%	0.06%	0.06%
TW	A	0.1%	0.05%	0.05%
TYL	D	0.04%	0.08%	0.04%
UAL	A	0.21%	0.01%	0.01%
UDR	C	0.17%	0.03%	0.03%
UGI	C	0.06%	0.01%	0.01%
UHAL	C	0.05%	0.04%	0.04%
UHAL	C	0.0%	0.04%	0.0%
UHAL	C	0.0%	0.01%	0.0%
UHAL	C	0.05%	0.01%	0.01%
UHS	D	0.15%	0.07%	0.07%
ULTA	D	0.03%	0.04%	0.03%
UNM	A	0.12%	0.04%	0.04%
URI	C	0.46%	0.09%	0.09%
USFD	C	0.16%	0.05%	0.05%
UTHR	C	0.18%	0.18%	0.18%
VFC	A	0.08%	0.02%	0.02%
VIRT	B	0.03%	0.05%	0.03%
VLTO	A	0.17%	0.05%	0.05%
VNO	B	0.08%	0.07%	0.07%
VNT	F	0.06%	0.01%	0.01%
VRSN	C	0.17%	0.04%	0.04%
VTR	C	0.29%	0.04%	0.04%
VTRS	D	0.15%	0.13%	0.13%
WAB	A	0.36%	0.05%	0.05%
WAL	C	0.1%	0.02%	0.02%
WAT	B	0.09%	0.05%	0.05%
WBA	F	0.07%	0.11%	0.07%
WBS	D	0.09%	0.01%	0.01%
WCC	D	0.08%	0.07%	0.07%
WDC	C	0.25%	0.08%	0.08%
WEN	B	0.02%	0.05%	0.02%
WH	C	0.06%	0.03%	0.03%
WHR	C	0.06%	0.03%	0.03%
WMB	A	0.63%	0.08%	0.08%
WMS	D	0.08%	0.02%	0.02%
WOLF	F	0.01%	0.0%	0.0%
WPC	C	0.15%	0.03%	0.03%
WRB	C	0.19%	0.02%	0.02%
WSM	C	0.09%	0.21%	0.09%
WSO	C	0.19%	0.2%	0.19%
WST	D	0.1%	0.04%	0.04%
WTFC	B	0.08%	0.01%	0.01%
WTM	C	0.05%	0.04%	0.04%
WTW	C	0.34%	0.1%	0.1%
WU	D	0.03%	0.07%	0.03%
WWD	C	0.11%	0.01%	0.01%
X	F	0.09%	0.03%	0.03%
XRAY	D	0.06%	0.03%	0.03%
XYL	C	0.36%	0.12%	0.12%
YUM	C	0.27%	0.12%	0.12%
ZBRA	B	0.16%	0.02%	0.02%
ZION	D	0.07%	0.01%	0.01%

IWS Overweight 276 Positions Relative to MFUS

Symbol	Grade	Weight
KVUE	C	0.49%
PCG	C	0.48%
ACGL	A	0.46%
MCHP	F	0.46%
AME	C	0.44%
CTSH	B	0.43%
IQV	F	0.42%
ROST	D	0.42%
FERG	F	0.42%
XEL	C	0.41%
HUM	F	0.38%
VICI	C	0.38%
DAL	C	0.36%
CSGP	F	0.34%
ON	F	0.34%
WEC	B	0.34%
AWK	D	0.32%
FTV	C	0.31%
ROK	D	0.31%
HAL	D	0.3%
GRMN	D	0.3%
KEYS	B	0.3%
GPN	F	0.29%
FSLR	C	0.29%
STT	A	0.29%
WY	C	0.28%
DVN	F	0.28%
SW	C	0.28%
MSTR	B	0.27%
VMC	D	0.27%
RJF	B	0.26%
AEE	A	0.26%
ZBH	F	0.25%
CBOE	B	0.25%
COO	C	0.24%
TDY	A	0.23%
ARE	D	0.23%
LNG	A	0.23%
ILMN	B	0.23%
APTV	D	0.22%
GPC	D	0.22%
WBD	F	0.22%
EQT	C	0.22%
LH	D	0.21%
CHK	C	0.21%
TRU	C	0.21%
CNP	B	0.21%
CTRA	D	0.2%
LUV	B	0.2%
ZM	B	0.2%
SWK	C	0.19%
CF	A	0.18%
DOC	C	0.18%
TXT	F	0.18%
AMCR	C	0.18%
J	F	0.18%
GEN	A	0.17%
TRMB	B	0.17%
SNA	C	0.17%
RVTY	C	0.17%
SWKS	F	0.17%
MKL	B	0.17%
RNR	A	0.16%
EG	A	0.16%
REG	C	0.15%
HES	D	0.15%
BG	F	0.15%
TECH	D	0.14%
CVNA	A	0.14%
ALLE	A	0.14%
NVT	C	0.13%
KMX	F	0.13%
PFGC	A	0.12%
Z	C	0.12%
LKQ	F	0.12%
OVV	D	0.12%
REXR	D	0.12%
RRX	B	0.12%
FBIN	C	0.12%
ALB	D	0.12%
SOLV	C	0.11%
WYNN	B	0.11%
WTRG	D	0.11%
CNH	C	0.11%
MTCH	B	0.11%
AFG	A	0.11%
NTNX	C	0.11%
NLY	C	0.11%
CRL	F	0.11%
FWONK	D	0.11%
EPAM	F	0.11%
RIVN	F	0.1%
CZR	B	0.1%
TWLO	B	0.1%
SNX	C	0.1%
CIEN	A	0.1%
ORI	A	0.1%
EGP	D	0.1%
AFRM	C	0.1%
MGM	D	0.1%
PRI	A	0.1%
GL	C	0.1%
APA	F	0.1%
FRT	D	0.1%
MTZ	A	0.09%
WEX	C	0.09%
ROKU	C	0.09%
VOYA	A	0.09%
BRBR	A	0.09%
CHRD	F	0.09%
FND	C	0.09%
OGE	C	0.09%
FMC	C	0.09%
DAY	C	0.09%
BRX	C	0.09%
TKO	A	0.09%
AAL	D	0.08%
HR	D	0.08%
JAZZ	F	0.08%
FLS	A	0.08%
CART	B	0.08%
RGEN	F	0.08%
STAG	D	0.08%
PNFP	B	0.08%
PR	D	0.08%
MIDD	D	0.08%
ONTO	B	0.08%
SSD	B	0.08%
MOH	F	0.08%
EXAS	C	0.08%
DAR	F	0.07%
OLLI	C	0.07%
GXO	D	0.07%
MTSI	B	0.07%
BPOP	D	0.07%
AXS	A	0.07%
STWD	C	0.07%
AZPN	A	0.07%
LFUS	C	0.07%
OKTA	F	0.07%
MAT	B	0.07%
CGNX	F	0.07%
BIO	B	0.07%
SOFI	C	0.07%
CCCS	D	0.06%
W	C	0.06%
WLK	C	0.06%
FOX	B	0.06%
IDA	D	0.06%
ST	F	0.06%
COLB	C	0.06%
S	C	0.06%
MTDR	D	0.06%
SIRI	C	0.06%
RITM	D	0.06%
ACHC	F	0.06%
ALK	C	0.06%
VMI	B	0.06%
SN	A	0.06%
RH	C	0.05%
AGO	B	0.05%
LITE	A	0.05%
DBX	C	0.05%
SITE	D	0.05%
PII	D	0.05%
ASH	F	0.05%
EEFT	F	0.05%
FRPT	A	0.05%
BYD	B	0.05%
CUZ	C	0.05%
OZK	D	0.05%
KRC	C	0.05%
AL	D	0.05%
OLED	B	0.05%
LINE	F	0.05%
SAIA	D	0.05%
FNB	D	0.05%
WSC	D	0.05%
ROIV	D	0.05%
DOCS	A	0.05%
ZI	F	0.04%
NWS	D	0.04%
AM	A	0.04%
AMTM	D	0.04%
PLNT	B	0.04%
NSA	D	0.04%
IRDM	C	0.04%
NVST	D	0.04%
VNOM	A	0.04%
PRGO	F	0.04%
MPW	C	0.04%
HIW	C	0.04%
COTY	F	0.04%
LBTYK	C	0.04%
DNB	D	0.04%
MSGS	A	0.04%
LBTYA	C	0.04%
U	D	0.04%
GTES	C	0.04%
EPR	C	0.04%
TPG	A	0.04%
CIVI	F	0.04%
GFS	F	0.04%
IAC	C	0.04%
BILL	D	0.04%
ENOV	F	0.03%
MP	C	0.03%
BOKF	B	0.03%
QDEL	D	0.03%
CNXC	F	0.03%
LLYVK	B	0.03%
HHH	C	0.03%
SHC	C	0.03%
YETI	C	0.03%
AZTA	F	0.03%
VAC	D	0.03%
AGR	C	0.03%
CLVT	D	0.03%
ALGM	F	0.03%
CXT	F	0.03%
COLM	B	0.03%
PENN	D	0.03%
FHB	D	0.03%
LCID	F	0.03%
ZG	C	0.03%
TNL	B	0.03%
PAYC	D	0.03%
CERT	F	0.02%
LYFT	D	0.02%
TRIP	D	0.02%
INFA	D	0.02%
FTRE	F	0.02%
UA	B	0.02%
UAA	B	0.02%
GO	F	0.02%
REYN	D	0.02%
QS	F	0.02%
BIRK	F	0.02%
VSTS	D	0.02%
IPGP	D	0.02%
AZEK	D	0.02%
GLOB	D	0.02%
ADT	D	0.02%
ETSY	F	0.02%
BROS	F	0.02%
HAYW	C	0.02%
RCM	B	0.02%
IONS	F	0.01%
CHH	A	0.01%
PLTK	C	0.01%
UI	B	0.01%
TFSL	D	0.01%
PATH	D	0.01%
TXG	F	0.01%
PYCR	D	0.01%
LSCC	D	0.01%
CAR	D	0.01%
AS	B	0.01%
LBRDA	C	0.01%
NCNO	F	0.01%
LLYVA	B	0.01%
FIVE	D	0.01%
HCP	A	0.01%
DV	F	0.01%
FWONA	C	0.01%
ALAB	C	0.01%
CNA	D	0.01%
HAS	A	0.01%
SEG	F	0.0%
LOAR	B	0.0%
PARAA	D	0.0%
NFE	F	0.0%
UWMC	D	0.0%
GRAL	F	0.0%
LAZ	C	0.0%
DJT	F	0.0%

IWS Underweight 381 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%
LII	C	-0.22%
PANW	B	-0.22%
VRTX	D	-0.22%
SHW	C	-0.22%
VST	A	-0.21%
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%
VRSK	D	-0.17%
DVA	C	-0.17%
CMCSA	B	-0.16%
VLO	F	-0.16%
KHC	F	-0.16%
AMT	D	-0.16%
CI	D	-0.15%
DECK	B	-0.15%
F	D	-0.15%
MUSA	D	-0.15%
BAH	C	-0.15%
MU	D	-0.15%
KKR	A	-0.14%
CME	A	-0.14%
DUK	C	-0.14%
SMCI	F	-0.14%
ANET	A	-0.14%
IT	A	-0.14%
PLTR	A	-0.14%
CEG	A	-0.13%
RSG	D	-0.13%
PH	A	-0.13%
SO	A	-0.13%
TSCO	A	-0.12%
MCO	D	-0.12%
BDX	C	-0.12%
CLX	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%
MPWR	B	-0.1%
USB	C	-0.1%
ITW	C	-0.1%
CRS	B	-0.1%
PSA	C	-0.1%
ADP	A	-0.1%
GDDY	B	-0.1%
AEO	C	-0.09%
AEP	C	-0.09%
GPI	C	-0.09%
TRGP	A	-0.09%
TMHC	C	-0.09%
JXN	A	-0.09%
DASH	A	-0.09%
SBUX	B	-0.09%
EQH	B	-0.08%
SLG	C	-0.08%
SRE	C	-0.08%
TFC	D	-0.08%
CPRT	B	-0.08%
ADSK	B	-0.08%
ARES	A	-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%
ROL	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%
POOL	D	-0.07%
CALM	A	-0.07%
ABG	D	-0.07%
ZTS	C	-0.06%
TXRH	A	-0.06%
CNX	A	-0.06%
STZ	D	-0.06%
FTNT	A	-0.06%
ERIE	A	-0.06%
TPH	C	-0.06%
IDXX	D	-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%
LPLA	D	-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%
APP	A	-0.05%
SKYW	B	-0.05%
CARR	A	-0.05%
FIX	A	-0.05%
CMC	D	-0.05%
LANC	F	-0.04%
KBH	D	-0.04%
TDS	C	-0.04%
DBRG	D	-0.04%
MANH	A	-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%
NBIX	F	-0.04%
HUBG	D	-0.04%
MAC	B	-0.04%
CPNG	C	-0.04%
GATX	F	-0.04%
FLEX	B	-0.04%
MAR	A	-0.04%
AROC	B	-0.04%
TGNA	B	-0.04%
HEI	C	-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%
XPO	F	-0.03%
DK	F	-0.03%
CPAY	A	-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%
BURL	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%
MORN	B	-0.03%
TPX	C	-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%
TDC	D	-0.02%
GES	F	-0.02%
BHE	C	-0.02%
PHIN	D	-0.02%
DAN	D	-0.02%
DNOW	F	-0.02%
ODFL	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%
LNW	F	-0.02%
VVV	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%