MFUS vs. BTAL ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to QuantShares U.S. Market Neutral Anti Beta Fund ETF (BTAL)

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

BTAL

QuantShares U.S. Market Neutral Anti Beta Fund ETF

BTAL Description

The investment seeks performance results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Thematic Market Neutral Anti-Beta Index. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stock, including the short positions, in the Target Anti-Beta Index. The Target Anti-Beta Index is a market neutral index that is dollar-neutral. As such, it identifies long and short securities positions of approximately equal dollar amounts. In choosing to track a market neutral index, the fund seeks to limit the effects of general market movements on the fund.

Grade (RS Rating)

Last Trade

$19.89

Average Daily Volume

706,428

Number of Holdings ^*

391

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	BTAL
30 Days	3.55%	-3.31%
60 Days	10.60%	-3.49%
90 Days	6.54%	2.37%
12 Months	36.03%	-2.02%

235 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in BTAL	Overlap
AA	B	0.01%	-0.49%	-0.49%
ABBV	C	1.56%	0.42%	0.42%
ACN	B	0.23%	0.43%	0.23%
ADC	C	0.01%	0.43%	0.01%
ADP	A	0.1%	0.43%	0.1%
AES	C	0.02%	-0.49%	-0.49%
AGNC	B	0.04%	-0.43%	-0.43%
AIZ	B	0.08%	0.42%	0.08%
AKAM	D	0.03%	0.42%	0.03%
ALGN	D	0.02%	-0.43%	-0.43%
ALL	A	0.26%	0.44%	0.26%
ALLY	F	0.05%	-0.34%	-0.34%
ALSN	A	0.09%	0.45%	0.09%
AMGN	D	1.01%	0.42%	0.42%
AMKR	F	0.03%	-0.39%	-0.39%
ANET	A	0.14%	-0.47%	-0.47%
AON	A	0.23%	0.42%	0.23%
APG	F	0.02%	-0.39%	-0.39%
AR	C	0.04%	-0.47%	-0.47%
ARMK	C	0.01%	0.45%	0.01%
ARW	C	0.05%	0.41%	0.05%
AVB	C	0.03%	0.43%	0.03%
AVGO	B	1.68%	-0.45%	-0.45%
AVT	B	0.04%	0.41%	0.04%
AXTA	C	0.02%	-0.44%	-0.44%
AZO	D	0.29%	0.31%	0.29%
BBWI	F	0.01%	-0.41%	-0.41%
BKR	B	0.07%	0.44%	0.07%
BLD	D	0.04%	-0.45%	-0.45%
BLDR	C	0.04%	-0.47%	-0.47%
BMRN	F	0.01%	0.32%	0.01%
BMY	A	0.36%	0.47%	0.36%
BRO	A	0.11%	0.43%	0.11%
BWA	C	0.01%	0.44%	0.01%
BWXT	A	0.09%	0.47%	0.09%
BX	C	0.11%	-0.46%	-0.46%
BXP	B	0.02%	-0.46%	-0.46%
CACI	A	0.09%	0.46%	0.09%
CARR	A	0.05%	-0.48%	-0.48%
CB	A	0.17%	0.44%	0.17%
CBRE	C	0.05%	-0.47%	-0.47%
CC	D	0.02%	-0.44%	-0.44%
CCK	C	0.06%	0.45%	0.06%
CCL	C	0.02%	-0.44%	-0.44%
CE	D	0.04%	-0.44%	-0.44%
CEG	A	0.13%	-0.59%	-0.59%
CFG	C	0.03%	-0.41%	-0.41%
CG	B	0.02%	-0.46%	-0.46%
CHD	D	0.07%	0.43%	0.07%
CHE	D	0.06%	0.42%	0.06%
CHRW	C	0.14%	0.44%	0.14%
CI	D	0.15%	0.41%	0.15%
CINF	A	0.02%	0.43%	0.02%
CLH	B	0.04%	0.42%	0.04%
CMA	C	0.04%	-0.45%	-0.45%
CME	A	0.14%	0.45%	0.14%
CMG	C	0.2%	0.43%	0.2%
CMS	A	0.03%	0.45%	0.03%
CNC	F	0.06%	0.39%	0.06%
CNM	F	0.01%	-0.37%	-0.37%
COHR	B	0.03%	-0.49%	-0.49%
COIN	F	0.06%	-0.35%	-0.35%
CPB	D	0.05%	0.41%	0.05%
CSCO	A	0.61%	0.44%	0.44%
CSX	D	0.11%	0.43%	0.11%
CW	A	0.1%	0.44%	0.1%
CWEN	C	0.02%	-0.44%	-0.44%
D	A	0.07%	-0.45%	-0.45%
DASH	A	0.09%	-0.48%	-0.48%
DD	C	0.11%	0.45%	0.11%
DECK	B	0.15%	0.38%	0.15%
DELL	C	0.03%	-0.43%	-0.43%
DGX	D	0.09%	0.42%	0.09%
DINO	F	0.01%	-0.4%	-0.4%
DKS	D	0.09%	-0.37%	-0.37%
DLB	D	0.02%	0.45%	0.02%
DOX	B	0.03%	0.44%	0.03%
DRI	C	0.03%	0.44%	0.03%
DUK	C	0.14%	0.44%	0.14%
ED	C	0.06%	0.44%	0.06%
EFX	D	0.13%	-0.41%	-0.41%
ELAN	D	0.01%	-0.41%	-0.41%
ELS	D	0.04%	0.41%	0.04%
ELV	F	0.2%	0.41%	0.2%
EQR	C	0.04%	0.42%	0.04%
ERIE	A	0.06%	0.49%	0.06%
EXP	C	0.06%	-0.48%	-0.48%
F	D	0.15%	-0.4%	-0.4%
FANG	D	0.05%	0.38%	0.05%
FCN	C	0.06%	0.43%	0.06%
FFIV	B	0.06%	0.47%	0.06%
FLO	D	0.04%	0.42%	0.04%
FOXA	B	0.1%	0.43%	0.1%
FTNT	A	0.06%	0.43%	0.06%
FYBR	C	0.01%	-0.52%	-0.52%
G	A	0.05%	0.42%	0.05%
GD	C	0.24%	0.43%	0.24%
GILD	A	0.79%	0.46%	0.46%
GIS	C	0.2%	0.44%	0.2%
GLPI	C	0.07%	0.42%	0.07%
GLW	C	0.19%	0.44%	0.19%
GME	D	0.01%	-0.44%	-0.44%
GNRC	B	0.05%	-0.44%	-0.44%
HEI	C	0.04%	0.46%	0.04%
HIG	A	0.06%	0.44%	0.06%
HOOD	B	0.03%	-0.45%	-0.45%
HPQ	B	0.29%	0.42%	0.29%
HRB	C	0.08%	0.41%	0.08%
IBKR	A	0.05%	0.47%	0.05%
IBM	A	1.14%	0.47%	0.47%
IDXX	D	0.06%	-0.44%	-0.44%
INTC	D	0.19%	-0.48%	-0.48%
ITT	C	0.08%	-0.46%	-0.46%
JHG	A	0.04%	-0.44%	-0.44%
JLL	C	0.06%	-0.46%	-0.46%
JNJ	D	1.28%	0.42%	0.42%
JNPR	C	0.13%	0.42%	0.13%
KBR	A	0.02%	0.41%	0.02%
KHC	F	0.16%	0.41%	0.16%
KKR	A	0.14%	-0.47%	-0.47%
KMI	A	0.09%	0.45%	0.09%
KO	C	1.16%	0.42%	0.42%
KR	C	0.37%	0.45%	0.37%
KSS	D	0.03%	-0.43%	-0.43%
L	C	0.06%	0.41%	0.06%
LAMR	C	0.05%	-0.46%	-0.46%
LMT	A	0.82%	0.43%	0.43%
LNC	B	0.03%	-0.41%	-0.41%
LNT	B	0.02%	0.44%	0.02%
LPLA	D	0.05%	0.42%	0.05%
LPX	C	0.08%	-0.48%	-0.48%
LRCX	D	0.19%	-0.41%	-0.41%
MAN	D	0.03%	0.41%	0.03%
MCD	A	0.55%	0.43%	0.43%
MCK	F	0.5%	0.39%	0.39%
MDU	C	0.03%	0.46%	0.03%
MKC	C	0.06%	0.44%	0.06%
MKSI	F	0.01%	-0.38%	-0.38%
MMC	D	0.19%	0.4%	0.19%
MOS	F	0.01%	0.39%	0.01%
MPWR	B	0.1%	-0.37%	-0.37%
MSA	F	0.03%	0.4%	0.03%
MSI	A	0.18%	0.45%	0.18%
MSM	D	0.06%	0.43%	0.06%
MU	D	0.15%	-0.43%	-0.43%
MUR	F	0.01%	0.38%	0.01%
MUSA	D	0.15%	0.39%	0.15%
NEM	C	0.22%	0.43%	0.22%
NEU	F	0.03%	0.44%	0.03%
NOC	B	0.38%	0.43%	0.38%
NRG	A	0.07%	-0.48%	-0.48%
NTRS	B	0.03%	-0.43%	-0.43%
NVDA	B	1.64%	-0.4%	-0.4%
NWL	D	0.02%	0.44%	0.02%
O	C	0.06%	0.42%	0.06%
OC	C	0.02%	-0.4%	-0.4%
OHI	C	0.02%	0.43%	0.02%
ORLY	A	0.19%	0.47%	0.19%
PAG	D	0.02%	0.4%	0.02%
PAYX	B	0.04%	0.45%	0.04%
PFE	D	0.64%	0.42%	0.42%
PGR	B	0.6%	0.44%	0.44%
PKG	B	0.07%	0.43%	0.07%
PLTR	A	0.14%	-0.52%	-0.52%
PNM	B	0.02%	0.45%	0.02%
PNW	C	0.01%	0.43%	0.01%
PWR	A	0.11%	-0.45%	-0.45%
PYPL	A	0.11%	-0.46%	-0.46%
RF	B	0.01%	-0.42%	-0.42%
RGA	B	0.06%	0.44%	0.06%
RKT	D	0.01%	-0.4%	-0.4%
RLI	A	0.03%	0.44%	0.03%
RMD	C	0.17%	-0.43%	-0.43%
ROP	D	0.06%	0.44%	0.06%
RRC	D	0.02%	-0.45%	-0.45%
RSG	D	0.13%	0.4%	0.13%
RTX	A	0.23%	0.44%	0.23%
RYN	C	0.03%	-0.45%	-0.45%
SAIC	A	0.01%	0.46%	0.01%
SCHW	D	0.04%	-0.43%	-0.43%
SEE	C	0.06%	-0.44%	-0.44%
SFM	A	0.2%	0.46%	0.2%
SHW	C	0.22%	-0.46%	-0.46%
SIGI	D	0.01%	0.44%	0.01%
SLGN	B	0.05%	0.43%	0.05%
SMCI	F	0.14%	-0.34%	-0.34%
SMG	C	0.04%	-0.53%	-0.53%
SNV	D	0.01%	-0.4%	-0.4%
SQ	D	0.05%	-0.42%	-0.42%
T	B	0.74%	0.47%	0.47%
TER	C	0.04%	-0.41%	-0.41%
TFX	C	0.03%	-0.44%	-0.44%
TGNA	B	0.04%	0.46%	0.04%
TGT	C	0.77%	-0.41%	-0.41%
THG	A	0.04%	0.45%	0.04%
THO	C	0.07%	-0.43%	-0.43%
TJX	D	0.38%	0.41%	0.38%
TMUS	A	0.38%	0.42%	0.38%
TNET	D	0.01%	0.4%	0.01%
TOL	C	0.06%	-0.46%	-0.46%
TROW	D	0.08%	-0.42%	-0.42%
TRV	B	0.2%	0.45%	0.2%
TXRH	A	0.06%	0.45%	0.06%
UBER	C	0.23%	-0.43%	-0.43%
UGI	C	0.01%	-0.43%	-0.43%
UNH	B	0.79%	0.42%	0.42%
UNM	A	0.04%	0.46%	0.04%
URI	C	0.09%	-0.48%	-0.48%
USB	C	0.1%	-0.42%	-0.42%
USFD	C	0.05%	-0.45%	-0.45%
UTHR	C	0.18%	0.43%	0.18%
VFC	A	0.02%	0.46%	0.02%
VNO	B	0.07%	-0.49%	-0.49%
VRSN	C	0.04%	0.44%	0.04%
VST	A	0.21%	-0.63%	-0.63%
VTRS	D	0.13%	0.41%	0.13%
VZ	C	1.11%	0.46%	0.46%
WAL	C	0.02%	-0.44%	-0.44%
WBA	F	0.11%	-0.39%	-0.39%
WCC	D	0.07%	-0.44%	-0.44%
WELL	C	0.11%	0.45%	0.11%
WEN	B	0.05%	0.43%	0.05%
WH	C	0.03%	0.43%	0.03%
WM	B	0.26%	0.42%	0.26%
WMS	D	0.02%	-0.43%	-0.43%
WOLF	F	0.0%	-0.32%	-0.32%
WPC	C	0.03%	0.43%	0.03%
WRB	C	0.02%	0.41%	0.02%
WTM	C	0.04%	0.35%	0.04%
WTW	C	0.1%	0.42%	0.1%
X	F	0.03%	0.38%	0.03%
XOM	A	0.42%	0.43%	0.42%
XPO	F	0.03%	-0.39%	-0.39%
YUM	C	0.12%	0.44%	0.12%
ZION	D	0.01%	-0.4%	-0.4%

MFUS Overweight 574 Positions Relative to BTAL

Symbol	Grade	Weight
LLY	D	2.87%
META	A	2.37%
BRK.A	B	2.37%
WMT	A	1.68%
AMZN	C	1.6%
ORCL	A	1.38%
COST	C	1.36%
PG	D	1.04%
MRK	F	1.0%
AAPL	C	0.97%
JPM	C	0.88%
PM	D	0.83%
QCOM	D	0.8%
PEP	F	0.77%
WFC	B	0.73%
CVS	D	0.71%
MO	D	0.66%
C	B	0.63%
MMM	C	0.63%
GE	B	0.61%
HD	A	0.6%
AMAT	C	0.59%
UNP	F	0.54%
REGN	D	0.49%
NFLX	A	0.46%
CL	D	0.41%
BAC	B	0.39%
EBAY	A	0.38%
MPC	D	0.36%
CVX	B	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%
THC	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%
CHTR	D	0.25%
UPS	D	0.25%
ADM	F	0.25%
NEE	C	0.25%
SYF	A	0.24%
COF	A	0.24%
ANF	D	0.24%
CAH	B	0.24%
PRU	B	0.23%
BBY	C	0.23%
PSX	D	0.23%
LHX	A	0.23%
ISRG	C	0.23%
LII	C	0.22%
AFL	A	0.22%
PANW	B	0.22%
VRTX	D	0.22%
FICO	C	0.21%
WSM	C	0.21%
AXP	A	0.21%
BSX	A	0.2%
WSO	C	0.2%
CAT	A	0.2%
CTAS	C	0.19%
GWW	B	0.19%
LYB	B	0.18%
MS	A	0.18%
KMB	D	0.18%
TDG	A	0.17%
BK	A	0.17%
BLK	A	0.17%
VRSK	D	0.17%
DVA	C	0.17%
CMCSA	B	0.16%
VLO	F	0.16%
SPG	A	0.16%
BR	B	0.16%
EA	D	0.16%
AMT	D	0.16%
TSN	D	0.16%
HWM	A	0.15%
CASY	D	0.15%
K	B	0.15%
BAH	C	0.15%
AJG	C	0.14%
IT	A	0.14%
CMI	A	0.13%
EXR	D	0.13%
SYY	D	0.13%
DPZ	D	0.13%
PH	A	0.13%
SO	A	0.13%
TSCO	A	0.12%
XYL	C	0.12%
MCO	D	0.12%
RPM	A	0.12%
BDX	C	0.12%
AMP	A	0.12%
CLX	C	0.12%
IRM	B	0.12%
PNC	C	0.11%
PHM	C	0.11%
LDOS	A	0.11%
EVR	C	0.11%
FAST	C	0.11%
APH	D	0.11%
AOS	C	0.1%
NVR	C	0.1%
MTD	C	0.1%
DG	F	0.1%
ITW	C	0.1%
NTAP	D	0.1%
CRS	B	0.1%
AVY	D	0.1%
HPE	B	0.1%
JKHY	A	0.1%
PSA	C	0.1%
GDDY	B	0.1%
AEO	C	0.09%
AEP	C	0.09%
OKE	A	0.09%
GPI	C	0.09%
TRGP	A	0.09%
LSTR	F	0.09%
EHC	C	0.09%
HLT	A	0.09%
TMHC	C	0.09%
JXN	A	0.09%
EXPD	D	0.09%
SBUX	B	0.09%
ATR	A	0.08%
OTIS	A	0.08%
EQH	B	0.08%
SLG	C	0.08%
SRE	C	0.08%
BIIB	F	0.08%
TAP	D	0.08%
IP	C	0.08%
TFC	D	0.08%
TYL	D	0.08%
CCI	D	0.08%
CPRT	B	0.08%
BALL	C	0.08%
ADSK	B	0.08%
RCL	B	0.08%
STE	D	0.08%
GEHC	C	0.08%
IEX	D	0.08%
AYI	A	0.08%
DFS	A	0.08%
WDC	C	0.08%
DLR	C	0.08%
ARES	A	0.08%
GPK	D	0.08%
IR	A	0.08%
WMB	A	0.08%
NUE	D	0.08%
KDP	C	0.08%
ECL	C	0.08%
NSC	C	0.07%
NSIT	B	0.07%
MLM	F	0.07%
COP	D	0.07%
R	C	0.07%
TTC	F	0.07%
UFPI	C	0.07%
AN	D	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%
WU	D	0.07%
ALNY	C	0.07%
MNST	D	0.07%
FIS	A	0.07%
LEN	C	0.07%
EXC	C	0.07%
EMR	B	0.07%
POOL	D	0.07%
UHS	D	0.07%
DHI	C	0.07%
CALM	A	0.07%
SEIC	B	0.07%
HLI	A	0.07%
ABG	D	0.07%
ZTS	C	0.06%
BC	C	0.06%
CNX	A	0.06%
HSY	D	0.06%
STZ	D	0.06%
AMG	B	0.06%
TPH	C	0.06%
BERY	C	0.06%
JCI	C	0.06%
PEG	A	0.06%
PK	D	0.06%
OMC	C	0.06%
CRI	D	0.06%
CPT	C	0.06%
MMS	C	0.06%
MSCI	B	0.06%
TTWO	D	0.06%
SCI	D	0.06%
INGR	B	0.06%
MAS	C	0.06%
MHO	C	0.05%
NDSN	C	0.05%
NFG	A	0.05%
CUBE	C	0.05%
NDAQ	C	0.05%
URBN	F	0.05%
PPG	D	0.05%
CAG	D	0.05%
VLTO	A	0.05%
HBI	B	0.05%
COOP	B	0.05%
ATI	C	0.05%
SEB	F	0.05%
GNTX	D	0.05%
VIRT	B	0.05%
ANSS	D	0.05%
WAT	B	0.05%
BAX	D	0.05%
WAB	A	0.05%
LUMN	C	0.05%
TEX	F	0.05%
MTN	D	0.05%
ATGE	D	0.05%
CBT	B	0.05%
NXST	D	0.05%
BTU	B	0.05%
KTB	C	0.05%
FCNCA	D	0.05%
OGN	F	0.05%
APP	A	0.05%
A	B	0.05%
EIX	C	0.05%
LECO	D	0.05%
GAP	F	0.05%
SKYW	B	0.05%
TW	A	0.05%
POST	C	0.05%
SUI	D	0.05%
FIX	A	0.05%
CMC	D	0.05%
SLM	B	0.05%
LANC	F	0.04%
KBH	D	0.04%
TDS	C	0.04%
NYT	C	0.04%
AVTR	D	0.04%
DBRG	D	0.04%
BHF	D	0.04%
IFF	D	0.04%
MANH	A	0.04%
PPL	C	0.04%
CVLT	B	0.04%
TRN	C	0.04%
CDW	D	0.04%
BDC	A	0.04%
ES	D	0.04%
EXEL	B	0.04%
JWN	D	0.04%
NWSA	D	0.04%
ASO	D	0.04%
ADBE	F	0.04%
CTVA	A	0.04%
FDS	C	0.04%
COLD	D	0.04%
STLD	C	0.04%
SLVM	C	0.04%
NBIX	F	0.04%
PSTG	F	0.04%
SON	D	0.04%
PTC	B	0.04%
EME	B	0.04%
HUBG	D	0.04%
MAC	B	0.04%
AMH	D	0.04%
CPNG	C	0.04%
UHAL	C	0.04%
FITB	C	0.04%
GATX	F	0.04%
FLEX	B	0.04%
INVH	D	0.04%
TKR	B	0.04%
MAR	A	0.04%
AROC	B	0.04%
FTI	B	0.04%
ULTA	D	0.04%
CRBG	B	0.04%
VTR	C	0.04%
ABM	D	0.04%
CNO	B	0.04%
RS	D	0.04%
KD	D	0.04%
LOPE	D	0.04%
ETR	A	0.04%
OLN	D	0.04%
RGLD	C	0.04%
FL	F	0.04%
EMN	C	0.04%
SRCL	B	0.04%
DCI	B	0.04%
GVA	A	0.04%
CRUS	D	0.04%
WST	D	0.04%
SJM	D	0.04%
IPG	D	0.04%
SIG	C	0.04%
MOG.A	C	0.04%
BKE	B	0.03%
APAM	B	0.03%
MTG	A	0.03%
FHI	A	0.03%
PLXS	A	0.03%
THS	D	0.03%
DRH	B	0.03%
STC	D	0.03%
LW	D	0.03%
LZB	D	0.03%
HXL	F	0.03%
UNF	A	0.03%
WHR	C	0.03%
ADNT	F	0.03%
MRO	B	0.03%
COKE	C	0.03%
HOG	D	0.03%
XRAY	D	0.03%
JBL	C	0.03%
FNF	C	0.03%
DLTR	F	0.03%
HBAN	B	0.03%
DK	F	0.03%
SBAC	C	0.03%
CPAY	A	0.03%
BKU	D	0.03%
VC	F	0.03%
DDS	D	0.03%
MASI	B	0.03%
OI	D	0.03%
GMS	B	0.03%
RL	B	0.03%
APLE	B	0.03%
MATX	C	0.03%
BURL	C	0.03%
UDR	C	0.03%
PRG	C	0.03%
GNW	A	0.03%
BFAM	C	0.03%
MC	B	0.03%
HII	F	0.03%
MTB	A	0.03%
GGG	C	0.03%
SM	D	0.03%
AWI	A	0.03%
RPRX	D	0.03%
OSK	F	0.03%
GBX	C	0.03%
AVA	D	0.03%
MORN	B	0.03%
HUBB	A	0.03%
IVZ	A	0.03%
HOLX	D	0.03%
ACM	A	0.03%
BJ	B	0.03%
HSIC	D	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%
FE	C	0.03%
SANM	D	0.03%
KEX	C	0.02%
TDC	D	0.02%
GES	F	0.02%
BHE	C	0.02%
PHIN	D	0.02%
DAN	D	0.02%
LAD	C	0.02%
KIM	C	0.02%
FR	D	0.02%
DNOW	F	0.02%
EVRG	C	0.02%
TTEK	A	0.02%
SSNC	C	0.02%
ATO	A	0.02%
BEN	F	0.02%
ODFL	F	0.02%
CROX	C	0.02%
VSCO	C	0.02%
HP	D	0.02%
SATS	C	0.02%
CSL	A	0.02%
LXP	D	0.02%
JBLU	B	0.02%
ODP	F	0.02%
EWBC	B	0.02%
HNI	B	0.02%
SNDR	D	0.02%
APOG	B	0.02%
LEG	D	0.02%
VSH	F	0.02%
PNR	C	0.02%
DORM	C	0.02%
ANDE	D	0.02%
RHI	D	0.02%
OSIS	C	0.02%
ZBRA	B	0.02%
SAM	D	0.02%
ESS	D	0.02%
M	D	0.02%
HST	D	0.02%
NAVI	D	0.02%
LNW	F	0.02%
DTE	B	0.02%
HRL	F	0.02%
GWRE	A	0.02%
VVV	D	0.02%
MCY	B	0.02%
DOV	C	0.02%
YELP	D	0.02%
PMT	B	0.02%
EPC	F	0.02%
MAA	D	0.02%
BRKR	D	0.02%
NSP	F	0.02%
AGCO	D	0.02%
NI	A	0.02%
VSTO	B	0.02%
NTCT	C	0.02%
DOW	B	0.02%
RLJ	D	0.02%
GHC	A	0.02%
SXT	C	0.02%
MKTX	B	0.02%
XHR	A	0.02%
CXW	F	0.02%
PBF	F	0.02%
PVH	D	0.02%
AIR	C	0.02%
SKX	B	0.02%
HAE	F	0.02%
SBH	B	0.02%
GMED	B	0.02%
CTLT	A	0.02%
KMPR	D	0.02%
PSN	A	0.02%
GEF	B	0.02%
PFSI	C	0.02%
JBHT	D	0.02%
KEY	B	0.02%
PINC	F	0.02%
FAF	C	0.02%
ACA	C	0.02%
LBRDK	C	0.02%
JEF	A	0.02%
ORA	C	0.02%
OMF	D	0.02%
PDCO	F	0.02%
WERN	D	0.02%
HUN	B	0.01%
AAP	F	0.01%
KNX	D	0.01%
NOV	F	0.01%
SCL	D	0.01%
UHAL	C	0.01%
PARA	F	0.01%
MLKN	F	0.01%
ARCH	D	0.01%
CACC	F	0.01%
KALU	D	0.01%
ACI	F	0.01%
ECPG	F	0.01%
QRVO	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%
PB	D	0.01%
ESI	C	0.01%
CFR	B	0.01%
UAL	A	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%
PPC	C	0.01%
CLF	D	0.01%
TPR	B	0.01%
SPR	D	0.01%
SWX	C	0.01%
WAFD	D	0.01%
SHO	B	0.01%
CENTA	F	0.01%
PECO	C	0.01%
INCY	B	0.01%
FHN	D	0.01%
AMED	D	0.01%
JBGS	C	0.01%
PFG	A	0.01%
FLR	B	0.01%
ESAB	C	0.01%
WMK	D	0.01%
SPB	C	0.01%
JELD	D	0.01%
CBSH	D	0.01%
WTFC	B	0.01%
CADE	B	0.01%
ONB	D	0.01%
BRC	C	0.01%
XRX	D	0.01%
DTM	A	0.01%
DXC	C	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%
CPRI	C	0.01%
VNT	F	0.01%
CR	A	0.01%
LEA	F	0.01%
WBS	D	0.01%
CVI	D	0.01%
OMI	F	0.01%
SF	A	0.01%
LADR	D	0.01%
NNI	B	0.01%
WWD	C	0.01%
AMWD	C	0.01%
GOLF	F	0.01%
MHK	C	0.01%
NNN	C	0.01%
RBC	C	0.01%
DEI	A	0.01%
SAH	D	0.01%
IOSP	F	0.01%
H	B	0.01%
REZI	D	0.01%
SLB	D	0.01%
PTEN	F	0.01%
ICUI	B	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%

MFUS Underweight 156 Positions Relative to BTAL

Symbol	Grade	Weight
MSTR	B	-0.5%
RNR	A	-0.47%
MKL	B	-0.47%
SBRA	C	-0.46%
CDP	A	-0.45%
TDY	A	-0.45%
AEE	A	-0.45%
RYAN	A	-0.45%
XEL	C	-0.45%
CF	A	-0.45%
AXS	A	-0.44%
ACGL	A	-0.44%
CHH	A	-0.44%
WEC	B	-0.44%
PAYC	D	-0.44%
PCTY	C	-0.44%
HQY	B	-0.44%
EG	A	-0.44%
SNA	C	-0.44%
EDR	A	-0.44%
OLLI	C	-0.43%
CBOE	B	-0.43%
LNG	A	-0.43%
ZI	F	-0.43%
FOXF	F	-0.43%
DBX	C	-0.43%
PCAR	D	-0.43%
VICI	C	-0.42%
ASGN	D	-0.42%
CTSH	B	-0.42%
MSFT	D	-0.42%
FMC	C	-0.42%
COLM	B	-0.42%
REG	C	-0.42%
MTCH	B	-0.42%
AMCR	C	-0.42%
ORI	A	-0.42%
CXT	F	-0.41%
GPC	D	-0.41%
BG	F	-0.41%
HON	C	-0.41%
TXT	F	-0.41%
ON	F	-0.4%
JAZZ	F	-0.4%
SNX	C	-0.4%
MOH	F	-0.4%
COR	F	-0.4%
BILL	D	-0.4%
ST	F	-0.39%
OXY	D	-0.39%
LULU	D	-0.39%
DVN	F	-0.38%
J	F	-0.38%
CFLT	F	-0.38%
SRPT	F	-0.37%
AGL	F	-0.36%
HUM	F	-0.3%
BRZE	F	--0.3%
ELF	F	--0.3%
RIVN	F	--0.31%
CNXC	F	--0.31%
CELH	F	--0.33%
MRNA	F	--0.34%
OPEN	F	--0.34%
RUN	D	--0.35%
NTLA	F	--0.35%
ARWR	F	--0.35%
SEDG	F	--0.36%
NVCR	F	--0.37%
GH	F	--0.37%
RMBS	F	--0.38%
ENPH	F	--0.38%
TXG	F	--0.38%
MTDR	D	--0.38%
KMX	F	--0.38%
DAR	F	--0.38%
ZS	F	--0.38%
RIG	F	--0.38%
EW	F	--0.4%
OZK	D	--0.41%
PLD	D	--0.41%
SHLS	F	--0.41%
PTON	C	--0.41%
GTLS	D	--0.41%
PATH	D	--0.41%
PENN	D	--0.41%
PEN	D	--0.41%
CRL	F	--0.41%
ROIV	D	--0.41%
COTY	F	--0.41%
CRSP	F	--0.41%
PNFP	B	--0.41%
CHX	C	--0.42%
RBLX	D	--0.42%
RGEN	F	--0.42%
CSGP	F	--0.42%
NET	D	--0.42%
POWI	F	--0.42%
ARE	D	--0.43%
SOFI	C	--0.43%
CAR	D	--0.43%
SSD	B	--0.44%
MRVL	C	--0.44%
HHH	C	--0.44%
KRC	C	--0.44%
TREX	D	--0.44%
AWK	D	--0.44%
NVT	C	--0.44%
VEEV	C	--0.44%
DAY	C	--0.45%
CRWD	D	--0.45%
PINS	D	--0.45%
PFGC	A	--0.45%
AMD	C	--0.45%
EL	D	--0.45%
TTD	A	--0.45%
NWE	C	--0.45%
ILMN	B	--0.45%
MGM	D	--0.45%
EXPE	B	--0.45%
IOT	C	--0.46%
ETN	B	--0.46%
LYFT	D	--0.46%
FND	C	--0.46%
NTRA	A	--0.46%
MDB	D	--0.46%
ROKU	C	--0.46%
DKNG	C	--0.46%
ALB	D	--0.46%
Z	C	--0.47%
TRU	C	--0.47%
TT	A	--0.47%
FOUR	A	--0.47%
EQT	C	--0.48%
CVNA	A	--0.48%
FCX	B	--0.48%
OWL	A	--0.48%
SAIA	D	--0.48%
FBIN	C	--0.48%
TOST	B	--0.48%
SNAP	D	--0.49%
AXON	A	--0.49%
CZR	B	--0.49%
LITE	A	--0.49%
TSLA	C	--0.5%
DNLI	C	--0.5%
TPG	A	--0.5%
DAL	C	--0.51%
LYV	A	--0.51%
W	C	--0.52%
PODD	C	--0.52%
AFRM	C	--0.52%
TDOC	D	--0.53%
RH	C	--0.54%
VRT	B	--0.55%
DUOL	B	--0.58%