MFUS vs. CFA ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Compass EMP US 500 Volatility Weighted Index ETF (CFA)

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

$51.89

Average Daily Volume

5,619

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

CFA

Compass EMP US 500 Volatility Weighted Index ETF

CFA Description

The investment seeks to provide investment results that match the performance of the CEMP U.S. Large Cap 500 Volatility Weighted Index before fees and expenses. The index is an unmanaged index that was created by the fund's investment advisor and generally consists of the common stock of the 500 largest companies by market capitalization that have their headquarters in the U.S. and the stock of which trades on U.S. exchanges. Under normal market conditions, the fund invests at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in securities of U.S. issuers included in the index as of its most recent reconstitution.

Grade (RS Rating)

Last Trade

$90.25

Average Daily Volume

9,545

Number of Holdings ^*

495

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	CFA
30 Days	2.73%	4.63%
60 Days	3.41%	5.67%
90 Days	5.38%	8.16%
12 Months	32.49%	29.52%

376 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in CFA	Overlap
A	D	0.05%	0.16%	0.05%
AAPL	C	0.96%	0.2%	0.2%
ABBV	D	1.36%	0.2%	0.2%
ACM	A	0.03%	0.23%	0.03%
ACN	C	0.25%	0.2%	0.2%
ADBE	C	0.04%	0.11%	0.04%
ADM	D	0.22%	0.11%	0.11%
ADP	B	0.11%	0.35%	0.11%
ADSK	A	0.09%	0.2%	0.09%
AEP	D	0.08%	0.23%	0.08%
AES	F	0.01%	0.1%	0.01%
AFL	B	0.21%	0.23%	0.21%
AIG	B	0.34%	0.23%	0.23%
AJG	B	0.16%	0.25%	0.16%
AKAM	D	0.02%	0.15%	0.02%
ALGN	D	0.01%	0.12%	0.01%
ALL	A	0.26%	0.24%	0.24%
ALLY	C	0.05%	0.12%	0.05%
AMAT	F	0.55%	0.1%	0.1%
AMGN	D	0.94%	0.15%	0.15%
AMP	A	0.18%	0.32%	0.18%
AMZN	C	1.71%	0.2%	0.2%
ANET	C	0.14%	0.12%	0.12%
AON	A	0.24%	0.23%	0.23%
AOS	F	0.08%	0.17%	0.08%
APH	A	0.12%	0.2%	0.12%
APP	B	0.11%	0.25%	0.11%
ARES	A	0.09%	0.2%	0.09%
ATO	A	0.02%	0.35%	0.02%
AVGO	D	1.59%	0.1%	0.1%
AVTR	F	0.03%	0.11%	0.03%
AVY	D	0.09%	0.25%	0.09%
AXP	A	0.23%	0.23%	0.23%
AZO	C	0.28%	0.22%	0.22%
BAC	A	0.45%	0.24%	0.24%
BAH	F	0.15%	0.15%	0.15%
BBY	D	0.21%	0.12%	0.12%
BDX	F	0.11%	0.24%	0.11%
BIIB	F	0.07%	0.13%	0.07%
BK	A	0.18%	0.31%	0.18%
BKNG	A	0.42%	0.22%	0.22%
BKR	B	0.08%	0.23%	0.08%
BLD	D	0.03%	0.1%	0.03%
BLDR	D	0.04%	0.1%	0.04%
BLK	C	0.19%	0.29%	0.19%
BMRN	D	0.01%	0.12%	0.01%
BR	A	0.17%	0.26%	0.17%
BRK.A	B	2.42%	0.35%	0.35%
BRO	B	0.12%	0.26%	0.12%
BSX	B	0.2%	0.3%	0.2%
BURL	A	0.03%	0.13%	0.03%
BX	A	0.13%	0.2%	0.13%
C	A	0.69%	0.21%	0.21%
CAG	D	0.04%	0.19%	0.04%
CAH	B	0.27%	0.23%	0.23%
CARR	D	0.05%	0.16%	0.05%
CASY	A	0.16%	0.18%	0.16%
CAT	B	0.2%	0.2%	0.2%
CB	C	0.16%	0.28%	0.16%
CBRE	B	0.05%	0.19%	0.05%
CDW	F	0.03%	0.15%	0.03%
CE	F	0.02%	0.1%	0.02%
CEG	D	0.11%	0.12%	0.11%
CFG	B	0.04%	0.17%	0.04%
CHD	B	0.07%	0.32%	0.07%
CHRW	C	0.14%	0.15%	0.14%
CHTR	C	0.3%	0.13%	0.13%
CI	F	0.13%	0.22%	0.13%
CINF	A	0.02%	0.25%	0.02%
CL	D	0.35%	0.29%	0.29%
CLH	B	0.04%	0.19%	0.04%
CLX	B	0.12%	0.23%	0.12%
CMCSA	B	0.16%	0.24%	0.16%
CME	A	0.14%	0.28%	0.14%
CMG	B	0.2%	0.17%	0.17%
CMI	A	0.14%	0.23%	0.14%
CMS	C	0.03%	0.27%	0.03%
CNC	D	0.04%	0.14%	0.04%
COF	B	0.29%	0.23%	0.23%
COIN	C	0.1%	0.11%	0.1%
COKE	C	0.03%	0.12%	0.03%
COP	C	0.07%	0.24%	0.07%
COR	B	0.17%	0.28%	0.17%
COST	B	1.35%	0.24%	0.24%
CPAY	A	0.03%	0.21%	0.03%
CPB	D	0.04%	0.2%	0.04%
CPNG	D	0.04%	0.14%	0.04%
CPRT	A	0.09%	0.27%	0.09%
CRBG	B	0.04%	0.17%	0.04%
CSCO	B	0.68%	0.29%	0.29%
CSL	C	0.02%	0.19%	0.02%
CSX	B	0.11%	0.28%	0.11%
CTAS	B	0.19%	0.26%	0.19%
CTVA	C	0.04%	0.15%	0.04%
CVS	D	0.65%	0.14%	0.14%
CVX	A	0.39%	0.27%	0.27%
CW	B	0.11%	0.26%	0.11%
D	C	0.07%	0.21%	0.07%
DD	D	0.1%	0.17%	0.1%
DECK	A	0.17%	0.13%	0.13%
DELL	C	0.03%	0.09%	0.03%
DG	F	0.09%	0.09%	0.09%
DGX	A	0.09%	0.24%	0.09%
DHI	D	0.06%	0.12%	0.06%
DHR	F	0.24%	0.18%	0.18%
DKS	C	0.08%	0.1%	0.08%
DOV	A	0.04%	0.25%	0.04%
DOW	F	0.02%	0.2%	0.02%
DPZ	C	0.13%	0.17%	0.13%
DRI	B	0.03%	0.23%	0.03%
DTE	C	0.02%	0.24%	0.02%
DUK	C	0.13%	0.3%	0.13%
DVA	B	0.16%	0.18%	0.16%
EA	A	0.18%	0.29%	0.18%
EBAY	D	0.36%	0.2%	0.2%
ECL	D	0.08%	0.23%	0.08%
ED	D	0.05%	0.26%	0.05%
EFX	F	0.11%	0.13%	0.11%
EIX	B	0.05%	0.24%	0.05%
ELV	F	0.16%	0.17%	0.16%
EME	C	0.04%	0.2%	0.04%
EMN	D	0.04%	0.22%	0.04%
EMR	A	0.09%	0.23%	0.09%
EQH	B	0.08%	0.23%	0.08%
ERIE	D	0.04%	0.15%	0.04%
ETR	B	0.05%	0.32%	0.05%
EVRG	A	0.02%	0.29%	0.02%
EWBC	A	0.02%	0.21%	0.02%
EXC	C	0.07%	0.22%	0.07%
EXPD	D	0.11%	0.22%	0.11%
F	C	0.16%	0.12%	0.12%
FANG	D	0.05%	0.17%	0.05%
FAST	B	0.13%	0.26%	0.13%
FCNCA	A	0.06%	0.17%	0.06%
FDS	B	0.04%	0.25%	0.04%
FE	C	0.03%	0.27%	0.03%
FFIV	B	0.06%	0.21%	0.06%
FI	A	0.19%	0.34%	0.19%
FICO	B	0.25%	0.2%	0.2%
FIS	C	0.07%	0.22%	0.07%
FITB	A	0.04%	0.19%	0.04%
FIX	A	0.06%	0.14%	0.06%
FNF	B	0.03%	0.2%	0.03%
FOXA	B	0.11%	0.25%	0.11%
FTNT	C	0.07%	0.14%	0.07%
GD	F	0.24%	0.29%	0.24%
GDDY	A	0.12%	0.24%	0.12%
GE	D	0.56%	0.17%	0.17%
GEHC	F	0.07%	0.15%	0.07%
GEN	B	0.11%	0.17%	0.11%
GGG	B	0.03%	0.27%	0.03%
GILD	C	0.87%	0.21%	0.21%
GIS	D	0.17%	0.21%	0.17%
GLW	B	0.2%	0.19%	0.19%
GM	B	0.4%	0.19%	0.19%
GS	A	0.41%	0.24%	0.24%
GWW	B	0.21%	0.27%	0.21%
H	B	0.01%	0.18%	0.01%
HBAN	A	0.03%	0.21%	0.03%
HCA	F	0.25%	0.17%	0.17%
HD	A	0.62%	0.25%	0.25%
HEI	B	0.04%	0.24%	0.04%
HIG	B	0.06%	0.25%	0.06%
HII	D	0.02%	0.15%	0.02%
HLT	A	0.1%	0.29%	0.1%
HOLX	D	0.03%	0.29%	0.03%
HOOD	B	0.04%	0.14%	0.04%
HPE	B	0.11%	0.15%	0.11%
HPQ	B	0.28%	0.15%	0.15%
HRL	D	0.02%	0.15%	0.02%
HSY	F	0.05%	0.19%	0.05%
HUBB	B	0.03%	0.18%	0.03%
HWM	A	0.17%	0.16%	0.16%
IBKR	A	0.06%	0.28%	0.06%
IBM	C	1.05%	0.21%	0.21%
ICE	C	0.29%	0.3%	0.29%
IDXX	F	0.05%	0.16%	0.05%
IEX	B	0.09%	0.27%	0.09%
INCY	C	0.01%	0.22%	0.01%
INTC	D	0.2%	0.1%	0.1%
IP	B	0.09%	0.19%	0.09%
IPG	D	0.04%	0.19%	0.04%
IR	B	0.09%	0.2%	0.09%
ISRG	A	0.29%	0.19%	0.19%
IT	C	0.15%	0.21%	0.15%
ITT	A	0.08%	0.2%	0.08%
ITW	B	0.1%	0.33%	0.1%
JBHT	C	0.02%	0.18%	0.02%
JBL	B	0.03%	0.13%	0.03%
JCI	C	0.07%	0.21%	0.07%
JEF	A	0.03%	0.24%	0.03%
JKHY	D	0.1%	0.25%	0.1%
JLL	D	0.06%	0.15%	0.06%
JNJ	D	1.18%	0.28%	0.28%
JPM	A	0.99%	0.26%	0.26%
KDP	D	0.07%	0.24%	0.07%
KEY	B	0.03%	0.16%	0.03%
KHC	F	0.15%	0.2%	0.15%
KKR	A	0.15%	0.18%	0.15%
KLAC	D	0.23%	0.09%	0.09%
KMB	D	0.16%	0.23%	0.16%
KMI	A	0.11%	0.37%	0.11%
KO	D	1.0%	0.33%	0.33%
KR	B	0.38%	0.24%	0.24%
L	A	0.06%	0.33%	0.06%
LDOS	C	0.11%	0.26%	0.11%
LEN	D	0.06%	0.14%	0.06%
LHX	C	0.26%	0.28%	0.26%
LII	A	0.21%	0.18%	0.18%
LLY	F	2.39%	0.12%	0.12%
LMT	D	0.75%	0.3%	0.3%
LNT	A	0.02%	0.27%	0.02%
LOW	D	0.35%	0.22%	0.22%
LPLA	A	0.07%	0.21%	0.07%
LRCX	F	0.17%	0.1%	0.1%
LYB	F	0.15%	0.22%	0.15%
MA	C	0.28%	0.32%	0.28%
MANH	D	0.03%	0.15%	0.03%
MAR	B	0.04%	0.27%	0.04%
MAS	D	0.06%	0.17%	0.06%
MCD	D	0.53%	0.26%	0.26%
MCK	B	0.63%	0.24%	0.24%
MCO	B	0.15%	0.23%	0.15%
MDLZ	F	0.23%	0.24%	0.23%
MET	A	0.32%	0.26%	0.26%
META	D	2.35%	0.13%	0.13%
MKC	D	0.05%	0.18%	0.05%
MLM	B	0.07%	0.22%	0.07%
MMC	B	0.2%	0.3%	0.2%
MMM	D	0.6%	0.12%	0.12%
MNST	C	0.07%	0.23%	0.07%
MO	A	0.73%	0.27%	0.27%
MORN	B	0.03%	0.23%	0.03%
MPC	D	0.34%	0.15%	0.15%
MPWR	F	0.06%	0.06%	0.06%
MRK	F	0.84%	0.18%	0.18%
MS	A	0.22%	0.26%	0.22%
MSCI	C	0.07%	0.16%	0.07%
MSI	B	0.2%	0.31%	0.2%
MTB	A	0.04%	0.22%	0.04%
MTD	D	0.08%	0.11%	0.08%
NBIX	C	0.04%	0.12%	0.04%
NDAQ	A	0.05%	0.26%	0.05%
NDSN	B	0.04%	0.21%	0.04%
NEE	D	0.22%	0.17%	0.17%
NFLX	A	0.52%	0.19%	0.19%
NI	A	0.02%	0.32%	0.02%
NKE	D	0.06%	0.12%	0.06%
NOC	D	0.35%	0.23%	0.23%
NOW	A	0.36%	0.15%	0.15%
NRG	B	0.07%	0.15%	0.07%
NSC	B	0.07%	0.18%	0.07%
NTAP	C	0.1%	0.14%	0.1%
NTRS	A	0.03%	0.24%	0.03%
NUE	C	0.08%	0.17%	0.08%
NVDA	C	1.9%	0.1%	0.1%
NVR	D	0.09%	0.19%	0.09%
NWSA	B	0.04%	0.22%	0.04%
OC	A	0.02%	0.18%	0.02%
ODFL	B	0.02%	0.17%	0.02%
OKE	A	0.1%	0.32%	0.1%
OMC	C	0.06%	0.22%	0.06%
ORCL	B	1.52%	0.2%	0.2%
ORLY	B	0.2%	0.26%	0.2%
OTIS	C	0.07%	0.28%	0.07%
PAG	B	0.02%	0.17%	0.02%
PANW	C	0.25%	0.11%	0.11%
PAYX	C	0.04%	0.27%	0.04%
PEG	A	0.06%	0.3%	0.06%
PEP	F	0.74%	0.25%	0.25%
PFG	D	0.01%	0.26%	0.01%
PG	A	1.01%	0.31%	0.31%
PGR	A	0.59%	0.23%	0.23%
PH	A	0.14%	0.2%	0.14%
PHM	D	0.1%	0.15%	0.1%
PKG	A	0.1%	0.29%	0.1%
PLTR	B	0.23%	0.15%	0.15%
PM	B	0.87%	0.31%	0.31%
PNC	B	0.12%	0.21%	0.12%
POOL	C	0.07%	0.15%	0.07%
PPG	F	0.04%	0.26%	0.04%
PPL	B	0.04%	0.31%	0.04%
PRU	A	0.23%	0.22%	0.22%
PSTG	D	0.04%	0.09%	0.04%
PSX	C	0.23%	0.18%	0.18%
PTC	A	0.04%	0.24%	0.04%
PWR	A	0.12%	0.17%	0.12%
PYPL	B	0.12%	0.16%	0.12%
QCOM	F	0.77%	0.11%	0.11%
RCL	A	0.1%	0.19%	0.1%
REGN	F	0.36%	0.18%	0.18%
RF	A	0.02%	0.2%	0.02%
RGA	A	0.06%	0.22%	0.06%
RKT	F	0.01%	0.06%	0.01%
RMD	C	0.16%	0.11%	0.11%
ROL	B	0.07%	0.22%	0.07%
ROP	B	0.06%	0.26%	0.06%
RPM	A	0.13%	0.26%	0.13%
RS	B	0.04%	0.19%	0.04%
RSG	A	0.13%	0.34%	0.13%
RTX	C	0.22%	0.26%	0.22%
RVTY	F	0.01%	0.14%	0.01%
SBUX	A	0.09%	0.12%	0.09%
SCHW	B	0.05%	0.22%	0.05%
SCI	B	0.07%	0.25%	0.07%
SHW	A	0.22%	0.23%	0.22%
SJM	D	0.04%	0.2%	0.04%
SLB	C	0.01%	0.18%	0.01%
SMCI	F	0.05%	0.02%	0.02%
SO	D	0.13%	0.28%	0.13%
SPGI	C	0.29%	0.29%	0.29%
SQ	B	0.06%	0.13%	0.06%
SRE	A	0.08%	0.3%	0.08%
SSNC	B	0.02%	0.25%	0.02%
STE	F	0.07%	0.2%	0.07%
STLD	B	0.04%	0.2%	0.04%
STZ	D	0.06%	0.24%	0.06%
SYF	B	0.31%	0.2%	0.2%
SYY	B	0.12%	0.23%	0.12%
T	A	0.73%	0.28%	0.28%
TAP	C	0.09%	0.23%	0.09%
TDG	D	0.15%	0.2%	0.15%
TER	D	0.03%	0.08%	0.03%
TFX	F	0.02%	0.14%	0.02%
TGT	F	0.74%	0.15%	0.15%
THC	D	0.28%	0.13%	0.13%
TJX	A	0.37%	0.27%	0.27%
TMO	F	0.28%	0.19%	0.19%
TMUS	B	0.43%	0.42%	0.42%
TOL	B	0.06%	0.13%	0.06%
TRGP	B	0.11%	0.32%	0.11%
TROW	B	0.09%	0.22%	0.09%
TRV	B	0.2%	0.25%	0.2%
TSCO	D	0.11%	0.2%	0.11%
TTEK	F	0.01%	0.17%	0.01%
TW	A	0.06%	0.24%	0.06%
TXN	C	0.29%	0.17%	0.17%
TXRH	C	0.06%	0.23%	0.06%
TYL	B	0.08%	0.2%	0.08%
UAL	A	0.02%	0.22%	0.02%
UBER	D	0.21%	0.12%	0.12%
UHAL	D	0.01%	0.14%	0.01%
UHAL	D	0.01%	0.14%	0.01%
UHS	D	0.06%	0.15%	0.06%
ULTA	F	0.04%	0.14%	0.04%
UNH	C	0.79%	0.19%	0.19%
UNP	C	0.51%	0.25%	0.25%
UPS	C	0.24%	0.18%	0.18%
URI	B	0.09%	0.14%	0.09%
USB	A	0.11%	0.19%	0.11%
USFD	A	0.05%	0.22%	0.05%
UTHR	C	0.19%	0.16%	0.16%
V	A	0.31%	0.35%	0.31%
VLO	C	0.16%	0.16%	0.16%
VLTO	D	0.04%	0.2%	0.04%
VRSK	A	0.16%	0.24%	0.16%
VRSN	F	0.04%	0.25%	0.04%
VST	B	0.23%	0.16%	0.16%
VZ	C	1.0%	0.23%	0.23%
WAB	B	0.05%	0.26%	0.05%
WAT	B	0.05%	0.16%	0.05%
WFC	A	0.97%	0.24%	0.24%
WM	A	0.28%	0.27%	0.27%
WMB	A	0.1%	0.33%	0.1%
WMS	D	0.02%	0.11%	0.02%
WMT	A	1.71%	0.29%	0.29%
WRB	A	0.02%	0.22%	0.02%
WSM	B	0.18%	0.1%	0.1%
WSO	A	0.17%	0.19%	0.17%
WST	C	0.05%	0.13%	0.05%
XOM	B	0.43%	0.26%	0.26%
XPO	B	0.04%	0.14%	0.04%
XYL	D	0.1%	0.21%	0.1%
YUM	B	0.13%	0.29%	0.13%
ZBRA	B	0.04%	0.15%	0.04%
ZTS	D	0.05%	0.17%	0.05%

MFUS Overweight 439 Positions Relative to CFA

Symbol	Grade	Weight
PFE	D	0.57%
BMY	B	0.41%
SFM	A	0.25%
ANF	C	0.25%
VRTX	F	0.22%
TSN	B	0.18%
NEM	D	0.16%
MU	D	0.16%
MUSA	A	0.16%
SPG	B	0.16%
K	A	0.15%
VTRS	A	0.14%
EVR	B	0.13%
JNPR	F	0.13%
AMT	D	0.13%
IRM	D	0.12%
WELL	A	0.12%
WBA	F	0.12%
CRS	A	0.11%
WTW	B	0.11%
DASH	A	0.11%
ALSN	B	0.11%
EXR	D	0.11%
BWXT	B	0.11%
AYI	B	0.1%
JXN	C	0.1%
DFS	B	0.1%
SEIC	B	0.09%
AIZ	A	0.09%
TFC	A	0.09%
MLI	C	0.09%
WCC	B	0.09%
CALM	A	0.09%
LSTR	D	0.09%
DLR	B	0.09%
EHC	B	0.09%
CACI	D	0.09%
TMHC	B	0.09%
GPI	A	0.09%
PSA	D	0.09%
HRB	D	0.08%
LPX	B	0.08%
WDC	D	0.08%
SLG	B	0.08%
GPK	C	0.08%
ABG	B	0.08%
ATR	B	0.08%
HLI	B	0.08%
GLPI	C	0.07%
UFPI	B	0.07%
EXP	A	0.07%
CCI	D	0.07%
BCC	B	0.07%
INGR	B	0.07%
SKYW	B	0.07%
GEO	B	0.07%
CNX	A	0.07%
VNO	B	0.07%
THO	B	0.07%
R	B	0.07%
BALL	D	0.07%
AEO	F	0.07%
TTWO	A	0.07%
HCC	B	0.07%
G	B	0.06%
VIRT	B	0.06%
BC	C	0.06%
GAP	C	0.06%
SEE	C	0.06%
ATGE	B	0.06%
TPH	D	0.06%
BFH	B	0.06%
LECO	B	0.06%
GNRC	B	0.06%
CPT	B	0.06%
BERY	B	0.06%
KTB	B	0.06%
CHE	D	0.06%
CCK	C	0.06%
SLM	A	0.06%
CMC	B	0.06%
MTH	D	0.06%
LUMN	C	0.06%
WU	D	0.06%
PK	B	0.06%
TTC	D	0.06%
AMG	B	0.06%
AN	C	0.06%
MSM	C	0.06%
ALNY	D	0.06%
TDS	B	0.05%
NFG	A	0.05%
CNO	A	0.05%
PRIM	A	0.05%
FLEX	A	0.05%
THG	A	0.05%
AR	B	0.05%
NSIT	F	0.05%
LOPE	B	0.05%
URBN	C	0.05%
MOG.A	B	0.05%
SUI	D	0.05%
TGNA	B	0.05%
GNTX	C	0.05%
MTN	C	0.05%
EXEL	B	0.05%
CRI	D	0.05%
SLGN	A	0.05%
POST	C	0.05%
COOP	B	0.05%
TEX	D	0.05%
LAMR	D	0.05%
KD	B	0.05%
CBT	C	0.05%
GVA	A	0.05%
NXST	C	0.05%
ANSS	B	0.05%
HBI	B	0.05%
WEN	D	0.05%
FCN	D	0.05%
MMS	F	0.05%
BTU	B	0.05%
O	D	0.05%
SON	D	0.04%
AVT	C	0.04%
OSK	B	0.04%
LANC	C	0.04%
TKR	D	0.04%
EQR	B	0.04%
AWI	A	0.04%
SEM	B	0.04%
AMH	D	0.04%
CRUS	D	0.04%
CXW	B	0.04%
ESS	B	0.04%
INVH	D	0.04%
SMG	D	0.04%
JWN	C	0.04%
AGNC	D	0.04%
BDC	B	0.04%
SLVM	B	0.04%
FLO	D	0.04%
WH	B	0.04%
ELS	C	0.04%
FL	F	0.04%
OLN	D	0.04%
ARW	D	0.04%
RUSHA	C	0.04%
TRN	C	0.04%
SANM	B	0.04%
VTR	C	0.04%
RGLD	C	0.04%
CVLT	B	0.04%
BAX	D	0.04%
CUBE	D	0.04%
WTM	A	0.04%
OGN	D	0.04%
BHF	B	0.04%
ATI	D	0.04%
MAC	B	0.04%
GBX	A	0.04%
HUBG	A	0.04%
FTI	A	0.04%
SIG	B	0.04%
MHO	D	0.04%
GATX	A	0.04%
JHG	A	0.04%
CMA	A	0.04%
UNM	A	0.04%
AROC	B	0.04%
ABM	B	0.04%
DCI	B	0.04%
WERN	C	0.04%
RRC	B	0.03%
HXL	D	0.03%
SBAC	D	0.03%
DLTR	F	0.03%
GMED	A	0.03%
DRH	B	0.03%
PNM	F	0.03%
ACA	A	0.03%
KMPR	B	0.03%
LZB	B	0.03%
WPC	D	0.03%
HAE	C	0.03%
UNF	B	0.03%
PINC	B	0.03%
APAM	B	0.03%
VC	D	0.03%
MAN	D	0.03%
DK	C	0.03%
AMKR	D	0.03%
COLD	D	0.03%
LBRDK	C	0.03%
BKE	B	0.03%
FHI	A	0.03%
MRO	B	0.03%
LNC	B	0.03%
OMF	A	0.03%
RPRX	D	0.03%
X	C	0.03%
UDR	B	0.03%
PLXS	B	0.03%
WHR	B	0.03%
CG	A	0.03%
OI	C	0.03%
PRG	C	0.03%
APLE	B	0.03%
IFF	D	0.03%
ASO	F	0.03%
SHOO	D	0.03%
AVB	B	0.03%
AVA	A	0.03%
DBRG	F	0.03%
LW	C	0.03%
HSIC	B	0.03%
COHR	B	0.03%
RL	B	0.03%
GMS	B	0.03%
BKU	A	0.03%
CDP	C	0.03%
RLI	B	0.03%
DDS	B	0.03%
KBH	D	0.03%
GNW	A	0.03%
DOX	D	0.03%
SM	B	0.03%
IVZ	B	0.03%
MC	C	0.03%
MATX	C	0.03%
MASI	A	0.03%
ES	D	0.03%
TPX	B	0.03%
NYT	C	0.03%
BJ	A	0.03%
ODP	F	0.02%
IOSP	B	0.02%
LXP	D	0.02%
SAH	A	0.02%
KEX	C	0.02%
LEG	F	0.02%
TTMI	B	0.02%
VSH	D	0.02%
LAUR	A	0.02%
KIM	A	0.02%
AA	B	0.02%
SF	B	0.02%
BHE	B	0.02%
BRKR	D	0.02%
GT	C	0.02%
GME	C	0.02%
WBS	A	0.02%
PHIN	A	0.02%
BEN	C	0.02%
WAL	B	0.02%
AXTA	A	0.02%
ANDE	D	0.02%
BXP	D	0.02%
ZION	B	0.02%
APG	B	0.02%
SNV	B	0.02%
NSP	D	0.02%
HP	B	0.02%
VFC	C	0.02%
HST	C	0.02%
DNOW	B	0.02%
LAD	A	0.02%
REZI	A	0.02%
PMT	D	0.02%
HNI	B	0.02%
XRAY	F	0.02%
WKC	D	0.02%
SNDR	B	0.02%
OSIS	B	0.02%
NAVI	C	0.02%
LNW	D	0.02%
PNR	A	0.02%
EPC	D	0.02%
M	D	0.02%
MAA	B	0.02%
AGCO	D	0.02%
KBR	F	0.02%
JBLU	F	0.02%
PFSI	D	0.02%
VVV	F	0.02%
THS	D	0.02%
RHI	B	0.02%
SKX	D	0.02%
CC	C	0.02%
DLB	B	0.02%
NWL	B	0.02%
OHI	C	0.02%
MDU	D	0.02%
SXT	B	0.02%
RLJ	C	0.02%
YELP	C	0.02%
DORM	B	0.02%
APOG	B	0.02%
GWRE	A	0.02%
SAM	C	0.02%
CTLT	B	0.02%
PSN	D	0.02%
XHR	B	0.02%
PDCO	D	0.02%
PBF	D	0.02%
MKTX	D	0.02%
NTCT	C	0.02%
VSCO	B	0.02%
MCY	A	0.02%
AIR	B	0.02%
HOG	D	0.02%
FAF	A	0.02%
SBH	C	0.02%
BFAM	D	0.02%
VSTO	A	0.02%
KSS	F	0.02%
PVH	C	0.02%
CCL	B	0.02%
RYN	D	0.02%
ADNT	F	0.02%
ORA	B	0.02%
MTG	C	0.02%
GEF	A	0.02%
MSA	D	0.02%
NEU	C	0.02%
GHC	C	0.02%
STC	B	0.02%
SVC	F	0.01%
QRVO	F	0.01%
AAP	C	0.01%
CPRI	F	0.01%
NOV	C	0.01%
KNX	B	0.01%
JELD	F	0.01%
DINO	D	0.01%
SCL	C	0.01%
MLKN	D	0.01%
IGT	F	0.01%
CACC	D	0.01%
PARA	C	0.01%
ARI	C	0.01%
WOR	F	0.01%
ELAN	D	0.01%
CNXN	C	0.01%
SPR	D	0.01%
CLF	F	0.01%
ACI	C	0.01%
GIII	D	0.01%
UGI	A	0.01%
ECPG	B	0.01%
ALEX	C	0.01%
UVV	B	0.01%
JBGS	D	0.01%
HTH	B	0.01%
SEB	F	0.01%
MKSI	C	0.01%
RDN	C	0.01%
IMKTA	C	0.01%
XRX	F	0.01%
SR	A	0.01%
ARMK	B	0.01%
OUT	A	0.01%
PNW	B	0.01%
SHO	C	0.01%
WGO	C	0.01%
AMED	F	0.01%
CNS	B	0.01%
SSB	B	0.01%
SWX	B	0.01%
KALU	C	0.01%
ESI	A	0.01%
CENTA	C	0.01%
CVI	F	0.01%
MOS	F	0.01%
ARCH	B	0.01%
PECO	A	0.01%
PB	A	0.01%
CNM	D	0.01%
SAIC	F	0.01%
OMI	F	0.01%
FDP	B	0.01%
SIGI	C	0.01%
LEA	D	0.01%
WAFD	B	0.01%
CROX	D	0.01%
BRC	D	0.01%
DY	D	0.01%
SPB	C	0.01%
PPC	C	0.01%
NNN	D	0.01%
CFR	B	0.01%
FELE	B	0.01%
DAN	D	0.01%
WMK	C	0.01%
MHK	D	0.01%
FLR	B	0.01%
KN	B	0.01%
STRA	C	0.01%
BBWI	D	0.01%
ESNT	D	0.01%
TPR	B	0.01%
DXC	B	0.01%
IDCC	A	0.01%
LADR	B	0.01%
NNI	D	0.01%
GES	F	0.01%
ESAB	B	0.01%
CWEN	C	0.01%
ONB	B	0.01%
CBSH	A	0.01%
WWD	B	0.01%
MUR	D	0.01%
CR	A	0.01%
ICUI	D	0.01%
CSGS	B	0.01%
TNET	D	0.01%
FYBR	D	0.01%
HE	C	0.01%
CADE	B	0.01%
WTFC	A	0.01%
FHN	A	0.01%
PSMT	C	0.01%
ADC	B	0.01%
SATS	D	0.01%
RBC	A	0.01%
BWA	D	0.01%
GOLF	B	0.01%
FR	C	0.01%
DTM	B	0.01%
DEI	B	0.01%
AMWD	C	0.01%
PTEN	C	0.01%
SCS	C	0.01%
VNT	B	0.01%
TDC	D	0.01%
SCCO	F	0.0%
NOMD	D	0.0%
WOLF	F	0.0%
HUN	F	0.0%

MFUS Underweight 120 Positions Relative to CFA

Symbol	Grade	Weight
HON	B	-0.33%
LIN	D	-0.3%
RJF	A	-0.3%
LNG	B	-0.3%
ABT	B	-0.27%
PCG	A	-0.27%
AEE	A	-0.26%
SNA	A	-0.26%
WEC	A	-0.26%
SYK	C	-0.26%
AFG	A	-0.26%
AME	A	-0.25%
MKL	A	-0.25%
CNP	B	-0.25%
MDT	D	-0.25%
STT	A	-0.24%
MSFT	F	-0.24%
ZBH	C	-0.24%
LYV	A	-0.23%
CBOE	B	-0.23%
CTRA	B	-0.23%
TT	A	-0.23%
XEL	A	-0.23%
J	F	-0.23%
CTSH	B	-0.23%
VMC	B	-0.23%
EOG	A	-0.23%
TRMB	B	-0.23%
AXON	A	-0.22%
LH	C	-0.22%
DIS	B	-0.22%
RNR	C	-0.22%
ROST	C	-0.22%
AWK	D	-0.22%
PCAR	B	-0.22%
DAL	C	-0.22%
APO	B	-0.22%
TDY	B	-0.22%
ALLE	D	-0.21%
GRMN	B	-0.21%
DE	A	-0.21%
PFGC	B	-0.21%
LVS	C	-0.21%
FTV	C	-0.21%
EQT	B	-0.2%
ACGL	D	-0.2%
OWL	A	-0.2%
OXY	D	-0.2%
EG	C	-0.19%
TPL	A	-0.19%
GOOGL	C	-0.19%
APD	A	-0.19%
TXT	D	-0.19%
WMG	C	-0.19%
ETN	A	-0.19%
OVV	B	-0.18%
KVUE	A	-0.18%
HAL	C	-0.18%
CF	B	-0.18%
RYAN	B	-0.18%
INTU	C	-0.18%
CRM	B	-0.17%
DOCU	A	-0.17%
ZM	B	-0.17%
BG	F	-0.17%
PR	B	-0.17%
GPC	D	-0.17%
DVN	F	-0.17%
GPN	B	-0.17%
ABNB	C	-0.16%
VEEV	C	-0.16%
CSGP	D	-0.16%
CDNS	B	-0.16%
GEV	B	-0.15%
STX	D	-0.15%
WLK	D	-0.15%
PODD	C	-0.15%
EXPE	B	-0.15%
FDX	B	-0.15%
DT	C	-0.15%
SNPS	B	-0.14%
DDOG	A	-0.14%
MGM	D	-0.14%
BSY	D	-0.14%
WDAY	B	-0.14%
ROK	B	-0.14%
KEYS	A	-0.14%
VRT	B	-0.13%
SOLV	C	-0.13%
MOH	F	-0.13%
ADI	D	-0.13%
TSLA	B	-0.13%
FCX	D	-0.13%
LUV	C	-0.13%
TTD	B	-0.12%
IQV	D	-0.12%
EPAM	C	-0.12%
CRWD	B	-0.12%
KMX	B	-0.12%
FND	C	-0.11%
WING	D	-0.11%
TECH	D	-0.11%
NXPI	D	-0.11%
SWKS	F	-0.1%
ENTG	D	-0.1%
KNSL	B	-0.1%
PINS	D	-0.1%
EW	C	-0.1%
MCHP	D	-0.1%
HUM	C	-0.1%
EL	F	-0.09%
CVNA	B	-0.09%
AMD	F	-0.09%
APTV	D	-0.09%
FSLR	F	-0.08%
CHWY	B	-0.08%
ON	D	-0.08%
DXCM	D	-0.08%
SRPT	D	-0.07%
ENPH	F	-0.04%