MFUS vs. BLV ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Vanguard Long-Term Bond ETF (BLV)

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

$52.28

Average Daily Volume

5,668

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

BLV

Vanguard Long-Term Bond ETF

BLV Description

The investment seeks to track the performance of a market-weighted bond index with a long-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. Long Government/Credit Float Adjusted Index. This Index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities of greater than 10 years and are publicly issued. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds held in the index.

Grade (RS Rating)

Last Trade

$71.77

Average Daily Volume

650,842

Number of Holdings ^*

342

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	BLV
30 Days	4.12%	1.03%
60 Days	4.16%	-3.69%
90 Days	6.35%	-2.77%
12 Months	33.66%	9.74%

247 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in BLV	Overlap
AAPL	B	0.97%	0.02%	0.02%
ABBV	D	1.35%	0.02%	0.02%
ADC	B	0.01%	0.01%	0.01%
ADM	F	0.23%	0.01%	0.01%
AEP	D	0.08%	0.01%	0.01%
AES	F	0.01%	0.01%	0.01%
AFL	B	0.22%	0.01%	0.01%
AIG	B	0.34%	0.01%	0.01%
AIZ	B	0.09%	0.01%	0.01%
AJG	A	0.16%	0.02%	0.02%
ALL	B	0.26%	0.01%	0.01%
ALLY	C	0.05%	0.04%	0.04%
AMAT	F	0.5%	0.01%	0.01%
AMGN	D	0.92%	0.02%	0.02%
AMT	D	0.14%	0.01%	0.01%
AMZN	C	1.65%	0.03%	0.03%
AON	A	0.25%	0.01%	0.01%
ATO	A	0.02%	0.01%	0.01%
AVA	B	0.03%	0.01%	0.01%
AVB	B	0.03%	0.01%	0.01%
AVGO	D	1.54%	0.03%	0.03%
AXP	A	0.23%	0.02%	0.02%
BAC	A	0.45%	0.01%	0.01%
BAX	F	0.04%	0.01%	0.01%
BDX	F	0.11%	0.01%	0.01%
BEN	C	0.02%	0.01%	0.01%
BHF	B	0.04%	0.02%	0.02%
BIIB	F	0.06%	0.02%	0.02%
BMY	B	0.41%	0.01%	0.01%
BSX	C	0.21%	0.01%	0.01%
BWA	C	0.01%	0.01%	0.01%
C	A	0.7%	0.01%	0.01%
CACC	D	0.01%	0.01%	0.01%
CAG	D	0.04%	0.02%	0.02%
CAH	B	0.27%	0.01%	0.01%
CARR	C	0.05%	0.04%	0.04%
CAT	B	0.2%	0.01%	0.01%
CB	D	0.16%	0.01%	0.01%
CCI	D	0.07%	0.01%	0.01%
CFG	B	0.04%	0.01%	0.01%
CHD	B	0.07%	0.01%	0.01%
CHTR	C	0.3%	0.01%	0.01%
CI	D	0.13%	0.01%	0.01%
CINF	A	0.02%	0.01%	0.01%
CL	D	0.36%	0.01%	0.01%
CMCSA	C	0.16%	0.01%	0.01%
CME	A	0.14%	0.02%	0.02%
CMI	A	0.14%	0.01%	0.01%
CMS	C	0.03%	0.01%	0.01%
COP	D	0.07%	0.01%	0.01%
COST	B	1.36%	0.04%	0.04%
CPB	D	0.04%	0.01%	0.01%
CPT	B	0.06%	0.01%	0.01%
CSCO	A	0.68%	0.03%	0.03%
CSX	B	0.11%	0.01%	0.01%
CVS	D	0.67%	0.01%	0.01%
CVX	B	0.39%	0.01%	0.01%
D	C	0.07%	0.01%	0.01%
DD	D	0.1%	0.04%	0.04%
DELL	C	0.03%	0.04%	0.03%
DG	F	0.08%	0.01%	0.01%
DGX	B	0.09%	0.01%	0.01%
DHR	D	0.24%	0.01%	0.01%
DOV	A	0.04%	0.01%	0.01%
DOW	F	0.02%	0.01%	0.01%
DRI	B	0.03%	0.01%	0.01%
DTE	C	0.02%	0.01%	0.01%
DUK	C	0.13%	0.01%	0.01%
EA	C	0.19%	0.01%	0.01%
EBAY	C	0.36%	0.02%	0.02%
ECL	D	0.08%	0.01%	0.01%
ED	D	0.06%	0.01%	0.01%
EIX	A	0.05%	0.01%	0.01%
EMN	D	0.04%	0.01%	0.01%
EQH	B	0.08%	0.04%	0.04%
EQR	B	0.04%	0.01%	0.01%
ES	D	0.03%	0.01%	0.01%
ESS	B	0.04%	0.01%	0.01%
ETR	B	0.05%	0.01%	0.01%
EVRG	A	0.02%	0.01%	0.01%
EXC	D	0.07%	0.01%	0.01%
EXR	C	0.11%	0.01%	0.01%
FANG	F	0.05%	0.02%	0.02%
FE	D	0.03%	0.01%	0.01%
FIS	D	0.07%	0.01%	0.01%
FITB	B	0.04%	0.04%	0.04%
FNF	B	0.03%	0.01%	0.01%
FOXA	C	0.11%	0.02%	0.02%
GD	F	0.23%	0.01%	0.01%
GE	D	0.56%	0.01%	0.01%
GILD	B	0.84%	0.01%	0.01%
GIS	D	0.17%	0.01%	0.01%
GLW	B	0.2%	0.01%	0.01%
GM	B	0.38%	0.02%	0.02%
GS	B	0.4%	0.01%	0.01%
GWW	A	0.22%	0.01%	0.01%
HCA	F	0.24%	0.01%	0.01%
HD	A	0.62%	0.01%	0.01%
HIG	B	0.06%	0.01%	0.01%
HOG	F	0.02%	0.01%	0.01%
HPE	B	0.11%	0.04%	0.04%
HPQ	B	0.29%	0.03%	0.03%
HRL	D	0.02%	0.01%	0.01%
HSY	F	0.05%	0.01%	0.01%
IBM	C	1.09%	0.01%	0.01%
ICE	D	0.29%	0.02%	0.02%
IFF	D	0.03%	0.01%	0.01%
INGR	B	0.07%	0.01%	0.01%
INTC	C	0.19%	0.01%	0.01%
IP	B	0.09%	0.01%	0.01%
IPG	C	0.04%	0.01%	0.01%
ITW	A	0.1%	0.01%	0.01%
IVZ	B	0.03%	0.01%	0.01%
JBLU	F	0.02%	0.01%	0.01%
JCI	C	0.07%	0.01%	0.01%
JEF	A	0.03%	0.01%	0.01%
JNJ	D	1.2%	0.01%	0.01%
JNPR	F	0.12%	0.01%	0.01%
JPM	B	0.99%	0.01%	0.01%
K	A	0.15%	0.01%	0.01%
KDP	D	0.07%	0.01%	0.01%
KIM	A	0.02%	0.01%	0.01%
KLAC	F	0.22%	0.01%	0.01%
KMB	C	0.17%	0.01%	0.01%
KMI	B	0.11%	0.01%	0.01%
KO	D	1.01%	0.01%	0.01%
KR	A	0.37%	0.01%	0.01%
KSS	F	0.02%	0.01%	0.01%
L	B	0.06%	0.01%	0.01%
LEA	F	0.01%	0.02%	0.01%
LHX	C	0.26%	0.01%	0.01%
LLY	F	2.3%	0.01%	0.01%
LMT	D	0.75%	0.01%	0.01%
LNC	B	0.03%	0.01%	0.01%
LNT	A	0.02%	0.01%	0.01%
LOW	C	0.35%	0.01%	0.01%
LRCX	F	0.16%	0.01%	0.01%
LXP	D	0.02%	0.01%	0.01%
LYB	F	0.15%	0.01%	0.01%
MA	B	0.28%	0.01%	0.01%
MAA	B	0.02%	0.01%	0.01%
MAR	A	0.04%	0.02%	0.02%
MAS	C	0.06%	0.01%	0.01%
MCD	D	0.52%	0.01%	0.01%
MCO	A	0.14%	0.01%	0.01%
MDLZ	F	0.22%	0.02%	0.02%
MET	A	0.32%	0.01%	0.01%
MKC	D	0.06%	0.01%	0.01%
MLM	B	0.07%	0.01%	0.01%
MMC	A	0.2%	0.01%	0.01%
MMM	D	0.58%	0.01%	0.01%
MO	A	0.74%	0.01%	0.01%
MOS	F	0.01%	0.01%	0.01%
MPC	F	0.35%	0.01%	0.01%
MRK	F	0.83%	0.01%	0.01%
MRO	B	0.03%	0.01%	0.01%
MS	B	0.22%	0.02%	0.02%
MSI	C	0.2%	0.01%	0.01%
NDAQ	A	0.05%	0.01%	0.01%
NEE	D	0.23%	0.01%	0.01%
NEM	F	0.17%	0.01%	0.01%
NI	A	0.02%	0.01%	0.01%
NKE	F	0.06%	0.01%	0.01%
NNN	D	0.01%	0.01%	0.01%
NOC	D	0.35%	0.01%	0.01%
NOV	C	0.01%	0.01%	0.01%
NSC	A	0.07%	0.01%	0.01%
NUE	D	0.08%	0.03%	0.03%
NVDA	C	1.9%	0.02%	0.02%
O	D	0.06%	0.01%	0.01%
OC	B	0.02%	0.01%	0.01%
OHI	D	0.02%	0.02%	0.02%
OKE	C	0.1%	0.01%	0.01%
ORCL	C	1.56%	0.01%	0.01%
OTIS	C	0.07%	0.01%	0.01%
PECO	B	0.01%	0.01%	0.01%
PEG	A	0.06%	0.01%	0.01%
PEP	F	0.71%	0.01%	0.01%
PFE	D	0.55%	0.01%	0.01%
PFG	C	0.01%	0.01%	0.01%
PG	A	1.04%	0.01%	0.01%
PGR	A	0.59%	0.01%	0.01%
PH	A	0.14%	0.01%	0.01%
PHM	C	0.1%	0.01%	0.01%
PKG	B	0.1%	0.01%	0.01%
PM	B	0.89%	0.01%	0.01%
PNW	B	0.01%	0.01%	0.01%
PPL	B	0.04%	0.01%	0.01%
PRU	A	0.23%	0.01%	0.01%
PSX	C	0.23%	0.02%	0.02%
PYPL	A	0.12%	0.02%	0.02%
QCOM	F	0.73%	0.01%	0.01%
REGN	F	0.35%	0.01%	0.01%
RF	B	0.02%	0.01%	0.01%
RPM	A	0.13%	0.01%	0.01%
RPRX	D	0.03%	0.01%	0.01%
RSG	A	0.13%	0.01%	0.01%
RTX	D	0.22%	0.01%	0.01%
SBUX	B	0.09%	0.01%	0.01%
SCCO	F	0.0%	0.03%	0.0%
SCHW	A	0.05%	0.01%	0.01%
SHW	A	0.21%	0.01%	0.01%
SIGI	B	0.01%	0.01%	0.01%
SJM	D	0.04%	0.01%	0.01%
SO	D	0.13%	0.01%	0.01%
SPG	C	0.17%	0.01%	0.01%
SPGI	C	0.29%	0.01%	0.01%
SRE	A	0.08%	0.01%	0.01%
STE	F	0.07%	0.01%	0.01%
STLD	B	0.04%	0.01%	0.01%
STZ	D	0.05%	0.01%	0.01%
SWX	B	0.01%	0.01%	0.01%
SYY	C	0.12%	0.01%	0.01%
T	A	0.75%	0.01%	0.01%
TAP	C	0.08%	0.03%	0.03%
TGT	F	0.59%	0.01%	0.01%
TJX	A	0.38%	0.01%	0.01%
TMO	F	0.27%	0.01%	0.01%
TMUS	A	0.43%	0.01%	0.01%
TRV	B	0.2%	0.01%	0.01%
TSN	B	0.18%	0.01%	0.01%
TXN	D	0.28%	0.01%	0.01%
UAL	B	0.02%	0.01%	0.01%
UDR	B	0.03%	0.01%	0.01%
UNH	B	0.81%	0.01%	0.01%
UNM	A	0.04%	0.01%	0.01%
UNP	C	0.5%	0.01%	0.01%
UPS	C	0.24%	0.01%	0.01%
V	A	0.31%	0.01%	0.01%
VLO	C	0.16%	0.02%	0.02%
VRSK	A	0.16%	0.01%	0.01%
VTR	D	0.04%	0.01%	0.01%
VTRS	B	0.15%	0.02%	0.02%
VZ	B	1.03%	0.01%	0.01%
WBA	D	0.11%	0.01%	0.01%
WELL	C	0.12%	0.01%	0.01%
WFC	A	0.99%	0.01%	0.01%
WHR	B	0.03%	0.02%	0.02%
WM	A	0.27%	0.01%	0.01%
WMB	B	0.11%	0.01%	0.01%
WMT	B	1.77%	0.01%	0.01%
WPC	D	0.03%	0.01%	0.01%
WRB	A	0.03%	0.01%	0.01%
WU	D	0.06%	0.02%	0.02%
XOM	C	0.43%	0.01%	0.01%
XYL	D	0.11%	0.01%	0.01%
ZTS	D	0.05%	0.01%	0.01%

MFUS Overweight 568 Positions Relative to BLV

Symbol	Grade	Weight
BRK.A	B	2.44%
META	D	2.32%
MCK	C	0.64%
NFLX	B	0.55%
BKNG	B	0.42%
NOW	B	0.35%
SYF	A	0.31%
ISRG	C	0.29%
COF	B	0.29%
AZO	C	0.28%
THC	D	0.26%
VST	B	0.26%
FICO	B	0.25%
PANW	C	0.25%
SFM	B	0.25%
PLTR	B	0.24%
ANF	C	0.24%
WSM	B	0.24%
ACN	B	0.24%
LII	A	0.22%
VRTX	D	0.21%
ORLY	B	0.2%
BBY	D	0.2%
CMG	B	0.2%
UBER	D	0.2%
FI	A	0.19%
CTAS	B	0.19%
HWM	B	0.18%
WSO	A	0.18%
AMP	B	0.18%
BK	A	0.18%
UTHR	C	0.18%
BLK	C	0.18%
RMD	C	0.17%
DECK	A	0.17%
CASY	B	0.17%
DVA	B	0.17%
BR	A	0.17%
COR	C	0.17%
MU	D	0.16%
MUSA	B	0.16%
TDG	D	0.15%
ELV	F	0.15%
F	C	0.15%
KKR	B	0.15%
CHRW	C	0.14%
BAH	F	0.14%
ANET	C	0.14%
KHC	D	0.14%
IT	C	0.14%
CLX	C	0.13%
APP	B	0.13%
FAST	B	0.13%
DPZ	C	0.13%
EVR	B	0.13%
BX	B	0.13%
YUM	B	0.13%
PNC	A	0.12%
BRO	B	0.12%
IRM	C	0.12%
APH	B	0.12%
GDDY	B	0.12%
PWR	A	0.12%
RCL	B	0.11%
CW	B	0.11%
EXPD	C	0.11%
WTW	B	0.11%
ALSN	B	0.11%
LDOS	D	0.11%
USB	A	0.11%
TSCO	C	0.11%
DASH	A	0.11%
CEG	D	0.11%
ADP	B	0.11%
COIN	B	0.11%
BWXT	B	0.11%
CRS	B	0.11%
TRGP	B	0.11%
AYI	B	0.1%
HLT	A	0.1%
JXN	B	0.1%
NTAP	C	0.1%
JKHY	D	0.1%
DFS	B	0.1%
GEN	A	0.1%
EFX	D	0.1%
LSTR	B	0.09%
IEX	B	0.09%
WCC	B	0.09%
TFC	B	0.09%
EMR	A	0.09%
MLI	C	0.09%
TROW	A	0.09%
EHC	B	0.09%
ARES	B	0.09%
IR	A	0.09%
URI	B	0.09%
NVR	D	0.09%
ADSK	B	0.09%
TMHC	A	0.09%
GPI	B	0.09%
AVY	D	0.09%
CALM	B	0.09%
DLR	A	0.09%
PSA	C	0.09%
NRG	C	0.08%
GEO	B	0.08%
TTWO	B	0.08%
LPX	B	0.08%
ABG	B	0.08%
DKS	C	0.08%
SMCI	D	0.08%
MTD	F	0.08%
AOS	D	0.08%
HCC	B	0.08%
ATR	B	0.08%
WDC	C	0.08%
BKR	C	0.08%
TYL	A	0.08%
GPK	C	0.08%
SLG	B	0.08%
CPRT	A	0.08%
SEIC	A	0.08%
ITT	A	0.08%
HLI	A	0.08%
CACI	D	0.08%
FIX	A	0.07%
UFPI	B	0.07%
SQ	B	0.07%
EXP	B	0.07%
BCC	B	0.07%
LPLA	B	0.07%
SCI	A	0.07%
GLPI	B	0.07%
SKYW	B	0.07%
POOL	C	0.07%
AEO	F	0.07%
R	B	0.07%
VNO	B	0.07%
BALL	D	0.07%
THO	B	0.07%
MNST	B	0.07%
FTNT	C	0.07%
HRB	D	0.07%
GEHC	F	0.07%
CNX	B	0.07%
SEE	C	0.06%
JLL	B	0.06%
LECO	C	0.06%
GNRC	B	0.06%
TPH	C	0.06%
KTB	A	0.06%
HBI	B	0.06%
MPWR	F	0.06%
BFH	B	0.06%
CHE	D	0.06%
ATGE	B	0.06%
VIRT	B	0.06%
UHS	D	0.06%
TW	B	0.06%
MTH	C	0.06%
SLM	B	0.06%
CCK	D	0.06%
PK	B	0.06%
CMC	B	0.06%
OMC	C	0.06%
TXRH	A	0.06%
MSM	C	0.06%
BERY	B	0.06%
AN	B	0.06%
AMG	B	0.06%
DHI	D	0.06%
TTC	D	0.06%
ROP	B	0.06%
FCNCA	B	0.06%
ALNY	D	0.06%
RGA	A	0.06%
FFIV	A	0.06%
IBKR	B	0.06%
TOL	A	0.06%
MSCI	C	0.06%
LEN	C	0.06%
ROL	B	0.06%
EME	B	0.05%
URBN	C	0.05%
CNO	A	0.05%
NFG	B	0.05%
NSIT	F	0.05%
ERIE	D	0.05%
LOPE	B	0.05%
AROC	B	0.05%
THG	C	0.05%
TDS	B	0.05%
PRIM	A	0.05%
CRI	F	0.05%
GNTX	C	0.05%
A	D	0.05%
MOG.A	B	0.05%
TGNA	B	0.05%
MTN	C	0.05%
EXEL	A	0.05%
SUI	D	0.05%
HOOD	B	0.05%
CBRE	B	0.05%
FLEX	B	0.05%
USFD	A	0.05%
SLGN	A	0.05%
TEX	D	0.05%
CBT	C	0.05%
IDXX	F	0.05%
COOP	B	0.05%
LAMR	C	0.05%
POST	B	0.05%
AR	B	0.05%
KD	B	0.05%
WAT	B	0.05%
WEN	D	0.05%
NXST	C	0.05%
ANSS	B	0.05%
GAP	C	0.05%
LUMN	C	0.05%
GVA	B	0.05%
WAB	B	0.05%
MMS	F	0.05%
BC	C	0.05%
FCN	D	0.05%
BTU	C	0.05%
G	B	0.05%
XPO	B	0.04%
SON	D	0.04%
TKR	D	0.04%
AVT	C	0.04%
ACM	A	0.04%
ADBE	C	0.04%
FL	D	0.04%
JWN	A	0.04%
CRUS	F	0.04%
AWI	B	0.04%
AMH	C	0.04%
CXW	C	0.04%
CPNG	D	0.04%
INVH	D	0.04%
CLH	B	0.04%
BDC	B	0.04%
SEM	B	0.04%
WH	A	0.04%
PSTG	D	0.04%
RUSHA	B	0.04%
ELS	C	0.04%
PAYX	B	0.04%
SMG	C	0.04%
OLN	F	0.04%
AGNC	D	0.04%
CTVA	B	0.04%
MTB	B	0.04%
FLO	C	0.04%
BLDR	C	0.04%
ARW	D	0.04%
FDS	B	0.04%
SLVM	B	0.04%
TRN	B	0.04%
SANM	B	0.04%
OGN	F	0.04%
VRSN	F	0.04%
CVLT	B	0.04%
PTC	A	0.04%
NBIX	C	0.04%
NWSA	B	0.04%
CUBE	D	0.04%
GBX	A	0.04%
WTM	A	0.04%
ZBRA	A	0.04%
JHG	A	0.04%
SIG	B	0.04%
HEI	B	0.04%
MAC	A	0.04%
HUBG	A	0.04%
RGLD	D	0.04%
CMA	A	0.04%
ATI	D	0.04%
MHO	C	0.04%
CNC	F	0.04%
FTI	A	0.04%
PPG	D	0.04%
CRBG	B	0.04%
VLTO	C	0.04%
WERN	B	0.04%
DCI	A	0.04%
GATX	A	0.04%
NDSN	B	0.04%
ABM	B	0.04%
RS	B	0.04%
WST	C	0.04%
STC	A	0.03%
HAE	B	0.03%
SBAC	D	0.03%
GEF	B	0.03%
DRH	B	0.03%
COKE	C	0.03%
KMPR	B	0.03%
VC	D	0.03%
UNF	B	0.03%
LZB	B	0.03%
DK	C	0.03%
RRC	B	0.03%
GMED	A	0.03%
KEY	A	0.03%
MAN	D	0.03%
PINC	B	0.03%
ACA	B	0.03%
PNM	F	0.03%
APAM	B	0.03%
AMKR	F	0.03%
AVTR	F	0.03%
BKE	B	0.03%
LBRDK	C	0.03%
ASO	F	0.03%
FHI	A	0.03%
TER	F	0.03%
OI	C	0.03%
CDW	F	0.03%
OMF	A	0.03%
BURL	B	0.03%
SHOO	D	0.03%
DBRG	F	0.03%
CG	B	0.03%
PRG	B	0.03%
NTRS	A	0.03%
LW	C	0.03%
COLD	F	0.03%
PLXS	B	0.03%
APLE	B	0.03%
RL	B	0.03%
X	C	0.03%
JBL	C	0.03%
MATX	C	0.03%
BLD	C	0.03%
DDS	B	0.03%
GMS	B	0.03%
HOLX	D	0.03%
GGG	B	0.03%
BKU	B	0.03%
MC	B	0.03%
DOX	D	0.03%
RLI	A	0.03%
KBH	C	0.03%
COHR	C	0.03%
NYT	C	0.03%
CDP	C	0.03%
HBAN	B	0.03%
TPX	A	0.03%
CPAY	A	0.03%
SM	C	0.03%
HUBB	B	0.03%
MANH	C	0.03%
GNW	A	0.03%
MORN	A	0.03%
ULTA	F	0.03%
BJ	B	0.03%
OSK	B	0.03%
HSIC	B	0.03%
MASI	A	0.03%
LANC	C	0.03%
LEG	D	0.02%
DTM	B	0.02%
TDC	D	0.02%
SATS	D	0.02%
TTMI	B	0.02%
ODP	F	0.02%
KEX	B	0.02%
SSNC	A	0.02%
SF	B	0.02%
GT	C	0.02%
BRKR	F	0.02%
BHE	B	0.02%
CSL	B	0.02%
AXTA	A	0.02%
LAUR	B	0.02%
VFC	C	0.02%
WAL	B	0.02%
WBS	B	0.02%
PHIN	B	0.02%
NSP	F	0.02%
GME	C	0.02%
ZION	B	0.02%
ODFL	B	0.02%
BXP	D	0.02%
SNV	B	0.02%
ANDE	D	0.02%
APG	B	0.02%
HP	C	0.02%
HST	C	0.02%
AA	A	0.02%
VVV	F	0.02%
DNOW	B	0.02%
LAD	B	0.02%
M	D	0.02%
HNI	B	0.02%
PMT	D	0.02%
NAVI	C	0.02%
WKC	D	0.02%
WMS	F	0.02%
PNR	B	0.02%
LNW	D	0.02%
REZI	B	0.02%
XRAY	F	0.02%
KBR	F	0.02%
EPC	D	0.02%
SNDR	B	0.02%
RHI	C	0.02%
AGCO	D	0.02%
OSIS	A	0.02%
SKX	D	0.02%
PFSI	C	0.02%
NWL	A	0.02%
CC	C	0.02%
PSN	D	0.02%
SXT	B	0.02%
SAM	C	0.02%
APOG	B	0.02%
YELP	C	0.02%
RLJ	C	0.02%
THS	F	0.02%
DORM	B	0.02%
NTCT	B	0.02%
XHR	A	0.02%
CTLT	B	0.02%
GWRE	B	0.02%
MDU	F	0.02%
MKTX	D	0.02%
SBH	B	0.02%
PVH	C	0.02%
PBF	D	0.02%
PDCO	D	0.02%
PAG	B	0.02%
HII	F	0.02%
VSCO	B	0.02%
ADNT	F	0.02%
CE	F	0.02%
EWBC	B	0.02%
MCY	B	0.02%
AIR	B	0.02%
DLB	B	0.02%
VSTO	A	0.02%
BFAM	F	0.02%
FAF	B	0.02%
JBHT	C	0.02%
GHC	B	0.02%
TFX	F	0.02%
AKAM	F	0.02%
MSA	C	0.02%
ORA	B	0.02%
DLTR	D	0.02%
NEU	C	0.02%
RYN	C	0.02%
HXL	D	0.02%
MTG	B	0.02%
CCL	B	0.02%
SVC	F	0.01%
QRVO	F	0.01%
AAP	C	0.01%
CPRI	F	0.01%
KNX	B	0.01%
UHAL	D	0.01%
RKT	F	0.01%
JELD	F	0.01%
DINO	F	0.01%
SCL	C	0.01%
IGT	F	0.01%
PARA	C	0.01%
MLKN	D	0.01%
RVTY	D	0.01%
GIII	C	0.01%
WOR	D	0.01%
ELAN	F	0.01%
ARI	C	0.01%
CNXN	C	0.01%
MKSI	C	0.01%
ECPG	B	0.01%
HTH	B	0.01%
IMKTA	C	0.01%
RDN	C	0.01%
ACI	C	0.01%
SEB	F	0.01%
WGO	C	0.01%
CLF	F	0.01%
JBGS	D	0.01%
ALEX	B	0.01%
XRX	F	0.01%
UVV	B	0.01%
UGI	A	0.01%
SPR	D	0.01%
SHO	C	0.01%
ARMK	A	0.01%
OUT	A	0.01%
AMED	F	0.01%
SR	A	0.01%
CNS	B	0.01%
SSB	B	0.01%
ESI	B	0.01%
KALU	C	0.01%
CVI	F	0.01%
CENTA	C	0.01%
OMI	F	0.01%
SAIC	F	0.01%
BRC	C	0.01%
PB	B	0.01%
ARCH	B	0.01%
SPB	C	0.01%
WAFD	B	0.01%
DY	D	0.01%
CROX	F	0.01%
FDP	C	0.01%
WMK	B	0.01%
DAN	F	0.01%
CNM	D	0.01%
CFR	B	0.01%
MHK	D	0.01%
FELE	B	0.01%
INCY	C	0.01%
PPC	C	0.01%
BBWI	C	0.01%
TPR	A	0.01%
KN	B	0.01%
STRA	C	0.01%
DXC	B	0.01%
NNI	D	0.01%
ESNT	D	0.01%
GES	F	0.01%
FLR	B	0.01%
ESAB	B	0.01%
LADR	B	0.01%
ONB	B	0.01%
IDCC	A	0.01%
BMRN	F	0.01%
TTEK	F	0.01%
CBSH	B	0.01%
ICUI	D	0.01%
WWD	B	0.01%
MUR	F	0.01%
TNET	D	0.01%
CADE	B	0.01%
CWEN	C	0.01%
CSGS	B	0.01%
UHAL	D	0.01%
FHN	B	0.01%
FYBR	D	0.01%
H	A	0.01%
WTFC	B	0.01%
PSMT	C	0.01%
AMWD	B	0.01%
VNT	C	0.01%
CR	B	0.01%
ALGN	D	0.01%
PTEN	C	0.01%
SLB	C	0.01%
SCS	B	0.01%
FR	C	0.01%
GOLF	B	0.01%
IOSP	B	0.01%
SAH	B	0.01%
DEI	A	0.01%
RBC	B	0.01%
HE	C	0.01%
VSH	F	0.01%
NOMD	D	0.0%
WOLF	F	0.0%
HUN	F	0.0%

MFUS Underweight 95 Positions Relative to BLV

Symbol	Grade	Weight
WIT	A	-1.44%
MDT	D	-0.05%
WY	D	-0.04%
CRM	B	-0.03%
HAL	C	-0.03%
BHP	F	-0.03%
TEL	B	-0.02%
CF	B	-0.02%
VMC	B	-0.02%
GPN	C	-0.02%
ADI	D	-0.02%
GOOGL	C	-0.02%
BABA	D	-0.02%
GSK	F	-0.02%
DOC	C	-0.01%
AGO	A	-0.01%
AAT	B	-0.01%
HIW	D	-0.01%
JD	D	-0.01%
FRT	A	-0.01%
REG	B	-0.01%
CHI	A	-0.01%
DT	C	-0.01%
OPI	F	-0.01%
PDM	D	-0.01%
IDA	B	-0.01%
KRC	C	-0.01%
WTRG	B	-0.01%
WEST	C	-0.01%
ORI	A	-0.01%
NYC	D	-0.01%
NWE	A	-0.01%
HON	B	-0.01%
EQIX	A	-0.01%
EOG	C	-0.01%
FTV	B	-0.01%
ALB	C	-0.01%
AFG	A	-0.01%
APTV	F	-0.01%
COO	D	-0.01%
VOYA	B	-0.01%
VMI	A	-0.01%
SNA	A	-0.01%
ROK	B	-0.01%
SBRA	B	-0.01%
ZBH	C	-0.01%
OGE	A	-0.01%
LH	B	-0.01%
NXPI	D	-0.01%
HAS	D	-0.01%
EE	B	-0.01%
FMC	D	-0.01%
EG	C	-0.01%
SYK	C	-0.01%
SWK	D	-0.01%
WEC	A	-0.01%
AEE	A	-0.01%
ACGL	D	-0.01%
ARE	D	-0.01%
CTS	B	-0.01%
ETN	A	-0.01%
AWK	D	-0.01%
EL	F	-0.01%
HUM	C	-0.01%
LIN	D	-0.01%
OGS	A	-0.01%
XEL	A	-0.01%
PLD	D	-0.01%
TT	B	-0.01%
BKH	B	-0.01%
APD	A	-0.01%
CP	D	-0.01%
CNP	A	-0.01%
DE	B	-0.01%
PAA	B	-0.01%
MKL	A	-0.01%
WLK	D	-0.01%
EQNR	D	-0.01%
KOF	F	-0.01%
RJF	A	-0.01%
DVN	F	-0.01%
HES	C	-0.01%
MUFG	B	-0.01%
ET	B	-0.01%
FDX	B	-0.01%
EPD	B	-0.01%
MPLX	B	-0.01%
ABT	B	-0.01%
DIS	B	-0.01%
AZN	F	-0.01%
VOD	D	-0.01%
HSBC	B	-0.01%
PCG	B	-0.01%
BA	D	-0.01%
MSFT	D	-0.01%