MFUS vs. FAD ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to First Trust MuFirst Trust Multi CG AlphaDEX (FAD)

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

$50.17

Average Daily Volume

7,445

Number of Holdings ^*

780

* may have additional holdings in another (foreign) market

FAD

First Trust MuFirst Trust Multi CG AlphaDEX

FAD Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Multi Cap Growth Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Composite 1500(R) Growth Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$132.81

Average Daily Volume

4,699

Number of Holdings ^*

641

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	FAD
30 Days	2.28%	3.79%
60 Days	3.87%	4.56%
90 Days	5.63%	8.35%
12 Months	30.76%	33.83%

261 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in FAD	Overlap
AAPL	C	0.67%	0.18%	0.18%
ACA	B	0.03%	0.14%	0.03%
ADBE	F	0.04%	0.17%	0.04%
ADP	B	0.09%	0.2%	0.09%
ADSK	C	0.09%	0.09%	0.09%
AES	C	0.03%	0.04%	0.03%
AIT	B	0.02%	0.18%	0.02%
AJG	D	0.09%	0.39%	0.09%
ALSN	B	0.08%	0.24%	0.08%
AMAT	D	0.44%	0.27%	0.27%
AMGN	B	1.03%	0.36%	0.36%
AMH	C	0.04%	0.09%	0.04%
AMWD	D	0.01%	0.03%	0.01%
AMZN	C	1.27%	0.33%	0.33%
ANET	A	0.12%	0.44%	0.12%
ANF	D	0.26%	0.17%	0.17%
AON	B	0.19%	0.1%	0.1%
AOS	D	0.11%	0.08%	0.08%
APG	D	0.03%	0.15%	0.03%
APH	C	0.1%	0.32%	0.1%
APO	B	0.1%	0.41%	0.1%
APP	B	0.03%	0.29%	0.03%
ARES	A	0.09%	0.28%	0.09%
AROC	D	0.03%	0.12%	0.03%
ATGE	C	0.05%	0.13%	0.05%
ATI	D	0.05%	0.23%	0.05%
ATR	B	0.07%	0.18%	0.07%
AVGO	C	1.34%	0.36%	0.36%
AWI	B	0.03%	0.19%	0.03%
AXTA	C	0.02%	0.13%	0.02%
AZO	D	0.3%	0.26%	0.26%
BAH	B	0.14%	0.44%	0.14%
BFAM	B	0.03%	0.22%	0.03%
BK	A	0.27%	0.49%	0.27%
BKNG	B	0.47%	0.43%	0.43%
BLD	D	0.03%	0.08%	0.03%
BR	D	0.16%	0.27%	0.16%
BRC	B	0.01%	0.11%	0.01%
BRO	C	0.13%	0.39%	0.13%
BSX	B	0.19%	0.37%	0.19%
BWXT	C	0.08%	0.17%	0.08%
CASY	D	0.15%	0.21%	0.15%
CAT	B	0.41%	0.35%	0.35%
CBT	B	0.05%	0.19%	0.05%
CCL	C	0.05%	0.32%	0.05%
CEG	A	0.09%	0.42%	0.09%
CHD	C	0.07%	0.17%	0.07%
CHDN	D	0.02%	0.17%	0.02%
CHE	C	0.06%	0.04%	0.04%
CL	C	0.33%	0.37%	0.33%
CLH	A	0.04%	0.23%	0.04%
CMG	C	0.22%	0.38%	0.22%
CNM	F	0.01%	0.11%	0.01%
COKE	C	0.03%	0.25%	0.03%
COST	B	1.21%	0.46%	0.46%
CPAY	C	0.05%	0.1%	0.05%
CPRT	D	0.19%	0.08%	0.08%
CPT	B	0.06%	0.1%	0.06%
CRM	D	0.35%	0.17%	0.17%
CRS	A	0.1%	0.16%	0.1%
CSL	B	0.01%	0.35%	0.01%
CTAS	C	0.18%	0.3%	0.18%
CUBE	B	0.04%	0.05%	0.04%
CVLT	B	0.03%	0.21%	0.03%
CW	A	0.08%	0.24%	0.08%
DASH	B	0.09%	0.1%	0.09%
DBRG	D	0.03%	0.02%	0.02%
DCI	D	0.04%	0.13%	0.04%
DECK	D	0.17%	0.41%	0.17%
DLR	B	0.08%	0.26%	0.08%
DPZ	D	0.18%	0.27%	0.18%
DRH	C	0.02%	0.05%	0.02%
DRI	B	0.03%	0.09%	0.03%
DVA	B	0.18%	0.25%	0.18%
DY	B	0.01%	0.13%	0.01%
EA	D	0.09%	0.18%	0.09%
ECL	A	0.08%	0.36%	0.08%
EME	A	0.03%	0.23%	0.03%
ENTG	D	0.04%	0.07%	0.04%
ERIE	B	0.09%	0.49%	0.09%
ESAB	C	0.01%	0.13%	0.01%
ETN	C	0.18%	0.33%	0.18%
EXEL	C	0.02%	0.15%	0.02%
EXP	B	0.05%	0.11%	0.05%
FCN	C	0.07%	0.17%	0.07%
FCNCA	D	0.05%	0.47%	0.05%
FELE	C	0.01%	0.04%	0.01%
FFIV	B	0.04%	0.1%	0.04%
FICO	B	0.22%	0.43%	0.22%
FIX	A	0.05%	0.24%	0.05%
GATX	D	0.04%	0.13%	0.04%
GBX	C	0.03%	0.09%	0.03%
GDDY	C	0.09%	0.47%	0.09%
GE	A	1.09%	0.48%	0.48%
GNTX	D	0.06%	0.11%	0.06%
GOLF	F	0.01%	0.13%	0.01%
GOOGL	D	1.17%	0.37%	0.37%
GPK	B	0.1%	0.1%	0.1%
GVA	B	0.04%	0.15%	0.04%
GWRE	A	0.02%	0.21%	0.02%
GWW	A	0.17%	0.19%	0.17%
H	C	0.01%	0.2%	0.01%
HAE	D	0.02%	0.08%	0.02%
HCC	F	0.06%	0.15%	0.06%
HD	A	0.39%	0.09%	0.09%
HEI	A	0.04%	0.5%	0.04%
HLT	B	0.08%	0.42%	0.08%
HOOD	C	0.03%	0.2%	0.03%
HRB	C	0.09%	0.25%	0.09%
HST	C	0.02%	0.08%	0.02%
HUBB	A	0.08%	0.19%	0.08%
HWM	B	0.12%	0.52%	0.12%
HXL	F	0.04%	0.04%	0.04%
IBKR	A	0.05%	0.22%	0.05%
IBM	A	1.32%	0.21%	0.21%
INGR	B	0.06%	0.15%	0.06%
INTU	C	0.26%	0.25%	0.25%
INVH	C	0.06%	0.18%	0.06%
IOSP	D	0.01%	0.06%	0.01%
IR	C	0.09%	0.34%	0.09%
IRM	B	0.11%	0.56%	0.11%
IT	A	0.16%	0.19%	0.16%
ITT	B	0.08%	0.18%	0.08%
JKHY	C	0.1%	0.04%	0.04%
JPM	D	0.9%	0.43%	0.43%
JWN	B	0.03%	0.1%	0.03%
KD	D	0.06%	0.18%	0.06%
KKR	A	0.13%	0.5%	0.13%
KLAC	D	0.23%	0.31%	0.23%
KO	B	0.6%	0.19%	0.19%
KTB	A	0.05%	0.19%	0.05%
LADR	C	0.01%	0.05%	0.01%
LAMR	A	0.05%	0.14%	0.05%
LAUR	C	0.01%	0.11%	0.01%
LII	B	0.23%	0.47%	0.23%
LLY	C	2.48%	0.44%	0.44%
LNW	B	0.02%	0.22%	0.02%
LOPE	D	0.05%	0.17%	0.05%
LPLA	F	0.07%	0.31%	0.07%
LRCX	F	0.27%	0.25%	0.25%
LVS	D	0.01%	0.08%	0.01%
LW	D	0.04%	0.06%	0.04%
LYFT	D	0.01%	0.07%	0.01%
MA	B	0.79%	0.09%	0.09%
MAC	A	0.04%	0.09%	0.04%
MANH	A	0.03%	0.27%	0.03%
MAR	C	0.11%	0.33%	0.11%
MAS	B	0.06%	0.1%	0.06%
MCO	A	0.03%	0.28%	0.03%
META	A	2.02%	0.44%	0.44%
MKSI	F	0.01%	0.14%	0.01%
MLM	D	0.06%	0.16%	0.06%
MMC	C	0.19%	0.27%	0.19%
MMM	A	0.41%	0.45%	0.41%
MO	C	0.52%	0.2%	0.2%
MOG.A	B	0.04%	0.25%	0.04%
MORN	B	0.03%	0.13%	0.03%
MPWR	C	0.08%	0.28%	0.08%
MSA	D	0.03%	0.12%	0.03%
MSI	B	0.15%	0.39%	0.15%
MTD	D	0.08%	0.17%	0.08%
MUSA	D	0.17%	0.24%	0.17%
NBIX	F	0.04%	0.07%	0.04%
NEU	D	0.03%	0.05%	0.03%
NFLX	B	0.44%	0.35%	0.35%
NOW	A	0.37%	0.28%	0.28%
NTAP	D	0.08%	0.39%	0.08%
NTRS	B	0.02%	0.36%	0.02%
NVDA	D	1.6%	0.41%	0.41%
NVR	B	0.07%	0.21%	0.07%
NYT	C	0.05%	0.18%	0.05%
OKTA	F	0.03%	0.14%	0.03%
OLLI	C	0.01%	0.21%	0.01%
ORA	C	0.02%	0.09%	0.02%
ORCL	B	1.13%	0.39%	0.39%
ORLY	D	0.18%	0.27%	0.18%
OSIS	D	0.02%	0.08%	0.02%
OTIS	C	0.07%	0.24%	0.07%
PANW	C	0.25%	0.35%	0.25%
PAYX	C	0.03%	0.09%	0.03%
PCAR	D	0.08%	0.23%	0.08%
PEP	D	0.62%	0.09%	0.09%
PG	C	0.88%	0.18%	0.18%
PH	A	0.13%	0.29%	0.13%
PHM	B	0.17%	0.32%	0.17%
PINS	F	0.04%	0.22%	0.04%
PK	D	0.06%	0.07%	0.06%
PM	C	0.56%	0.31%	0.31%
PMT	C	0.02%	0.1%	0.02%
POST	C	0.05%	0.23%	0.05%
PR	D	0.04%	0.11%	0.04%
PSN	B	0.02%	0.25%	0.02%
PSTG	F	0.03%	0.33%	0.03%
PTC	D	0.05%	0.08%	0.05%
PWR	B	0.13%	0.45%	0.13%
RBC	C	0.01%	0.04%	0.01%
RCL	A	0.08%	0.45%	0.08%
RGLD	B	0.04%	0.05%	0.04%
RL	B	0.04%	0.17%	0.04%
RLI	B	0.03%	0.14%	0.03%
RMD	C	0.13%	0.11%	0.11%
ROL	C	0.05%	0.26%	0.05%
ROP	C	0.06%	0.17%	0.06%
ROST	C	0.07%	0.37%	0.07%
RPM	B	0.11%	0.09%	0.09%
RSG	D	0.13%	0.36%	0.13%
SAIA	D	0.04%	0.04%	0.04%
SAM	F	0.02%	0.07%	0.02%
SATS	C	0.01%	0.17%	0.01%
SCS	D	0.01%	0.1%	0.01%
SFM	B	0.19%	0.26%	0.19%
SHO	C	0.02%	0.05%	0.02%
SHW	B	0.21%	0.1%	0.1%
SKYW	C	0.05%	0.12%	0.05%
SLB	F	0.09%	0.07%	0.07%
SLG	B	0.07%	0.12%	0.07%
SMCI	F	0.14%	0.14%	0.14%
SMG	C	0.04%	0.05%	0.04%
SNAP	F	0.02%	0.14%	0.02%
SPG	A	0.15%	0.09%	0.09%
SPGI	A	0.06%	0.1%	0.06%
SSD	C	0.03%	0.05%	0.03%
STE	C	0.12%	0.19%	0.12%
STZ	D	0.04%	0.08%	0.04%
TDG	B	0.15%	0.37%	0.15%
TDS	C	0.03%	0.14%	0.03%
TJX	C	0.34%	0.47%	0.34%
TMUS	C	0.31%	0.29%	0.29%
TNET	F	0.01%	0.08%	0.01%
TOL	B	0.1%	0.22%	0.1%
TPX	C	0.06%	0.05%	0.05%
TRN	D	0.03%	0.13%	0.03%
TTEK	C	0.02%	0.24%	0.02%
TTWO	D	0.07%	0.08%	0.07%
TW	B	0.05%	0.19%	0.05%
TXN	C	0.21%	0.09%	0.09%
TXRH	C	0.05%	0.2%	0.05%
TYL	C	0.08%	0.29%	0.08%
UBER	C	0.21%	0.34%	0.21%
UDR	C	0.03%	0.1%	0.03%
URI	B	0.09%	0.39%	0.09%
V	C	0.86%	0.09%	0.09%
VC	F	0.04%	0.02%	0.02%
VMC	D	0.06%	0.08%	0.06%
VNT	F	0.02%	0.07%	0.02%
VRSK	D	0.2%	0.17%	0.17%
VRTX	D	0.21%	0.35%	0.21%
VST	A	0.26%	0.43%	0.26%
WAB	A	0.04%	0.46%	0.04%
WELL	C	0.12%	0.21%	0.12%
WEN	D	0.05%	0.04%	0.04%
WM	D	0.23%	0.24%	0.23%
WMB	B	0.08%	0.26%	0.08%
WMS	D	0.02%	0.08%	0.02%
WSM	D	0.21%	0.17%	0.17%
WSO	C	0.2%	0.26%	0.2%
WTS	C	0.03%	0.04%	0.03%
WWD	C	0.01%	0.2%	0.01%
XPO	D	0.03%	0.17%	0.03%
XYL	D	0.11%	0.24%	0.11%
YELP	F	0.03%	0.05%	0.03%

MFUS Overweight 519 Positions Relative to FAD

Symbol	Grade	Weight
BRK.A	C	2.01%
WMT	B	1.87%
WFC	D	1.4%
ABBV	C	1.34%
T	C	1.23%
C	D	1.22%
JNJ	C	1.03%
VZ	B	1.01%
XOM	D	0.99%
MRK	D	0.87%
CVS	F	0.8%
CVX	D	0.79%
GILD	B	0.78%
TGT	C	0.68%
MPC	D	0.64%
QCOM	F	0.62%
GM	B	0.56%
VLO	F	0.54%
PSX	D	0.54%
PFE	C	0.53%
LMT	B	0.52%
MCK	F	0.51%
PGR	A	0.5%
UNP	C	0.48%
GS	C	0.45%
REGN	C	0.45%
AIG	D	0.42%
CSCO	B	0.42%
COF	A	0.42%
MCD	B	0.4%
BAC	D	0.39%
ALL	B	0.36%
MET	A	0.36%
INTC	F	0.36%
CAH	C	0.35%
KR	C	0.34%
EBAY	B	0.34%
F	F	0.33%
TRV	B	0.32%
ADM	D	0.32%
COP	D	0.3%
ICE	C	0.29%
SYF	C	0.29%
BMY	C	0.28%
DHR	C	0.27%
HPQ	D	0.27%
THC	B	0.27%
PRU	C	0.25%
BBY	C	0.24%
CHTR	D	0.24%
CMCSA	D	0.24%
NOC	A	0.23%
LOW	A	0.23%
BX	B	0.23%
MDLZ	C	0.22%
TSN	D	0.22%
LYB	F	0.21%
DD	B	0.21%
GLW	B	0.2%
HPE	D	0.2%
CME	C	0.2%
UPS	F	0.19%
AXP	B	0.19%
LHX	C	0.19%
ACN	C	0.19%
AFL	C	0.19%
GD	B	0.17%
CB	B	0.16%
KHC	C	0.16%
KMB	D	0.16%
SCHW	D	0.16%
BKR	C	0.16%
UTHR	C	0.16%
MU	F	0.15%
EMR	D	0.15%
CLX	C	0.15%
WDC	D	0.15%
WBA	F	0.14%
CI	C	0.14%
JNPR	A	0.13%
TRGP	B	0.13%
DUK	B	0.13%
HCA	A	0.13%
VTRS	D	0.13%
EXC	B	0.12%
EVR	A	0.12%
IP	C	0.12%
CARR	B	0.12%
EOG	D	0.11%
USB	B	0.11%
CMI	C	0.11%
GIS	B	0.11%
K	A	0.1%
PNC	A	0.1%
AVY	D	0.1%
YUM	F	0.1%
MRO	C	0.1%
FTI	D	0.1%
ALLY	D	0.1%
FAST	C	0.1%
UNM	B	0.1%
GPI	B	0.09%
USFD	B	0.09%
AEO	D	0.09%
JXN	B	0.09%
CHRW	A	0.09%
BDX	F	0.09%
TFC	D	0.09%
FCX	D	0.09%
EFX	C	0.09%
UHS	B	0.09%
DKS	D	0.09%
CACI	B	0.09%
NEM	B	0.09%
NUE	F	0.08%
WCC	D	0.08%
TROW	D	0.08%
DFS	B	0.08%
OGN	D	0.08%
LECO	F	0.08%
WU	D	0.08%
HLI	A	0.08%
MKC	C	0.08%
BIIB	F	0.08%
FIS	B	0.08%
MTH	C	0.08%
AMP	B	0.08%
OKE	B	0.08%
EHC	B	0.08%
FOXA	B	0.08%
RS	D	0.08%
LUMN	C	0.08%
ITW	C	0.08%
TMHC	B	0.08%
LDOS	B	0.08%
KMI	A	0.08%
IEX	D	0.08%
AN	D	0.08%
LEN	C	0.08%
ELV	C	0.08%
L	D	0.08%
CSX	D	0.08%
LSTR	F	0.08%
TAP	D	0.08%
PNR	B	0.08%
JBL	D	0.07%
ABG	D	0.07%
POOL	D	0.07%
ARW	C	0.07%
CMC	D	0.07%
CALM	A	0.07%
CE	F	0.07%
TSCO	C	0.07%
CCK	A	0.07%
OSK	D	0.07%
EQH	C	0.07%
OC	D	0.07%
SEIC	C	0.07%
GAP	F	0.07%
NRG	A	0.07%
GLPI	C	0.07%
SYY	D	0.07%
IPG	C	0.07%
EXPD	C	0.07%
TTC	D	0.07%
EXR	B	0.07%
AIZ	B	0.07%
AYI	A	0.07%
MSCI	C	0.07%
BALL	C	0.07%
MMS	C	0.06%
MNST	D	0.06%
BERY	C	0.06%
R	B	0.06%
VNO	B	0.06%
MSM	D	0.06%
HIG	B	0.06%
SBUX	C	0.06%
EMN	B	0.06%
KSS	F	0.06%
FTNT	B	0.06%
IDXX	D	0.06%
BCC	C	0.06%
BC	C	0.06%
OMC	B	0.06%
HSY	D	0.06%
TEX	F	0.06%
NSIT	C	0.06%
X	D	0.06%
SLM	D	0.06%
SCI	C	0.06%
SEE	D	0.06%
CFG	C	0.06%
PBF	F	0.06%
CRI	D	0.06%
COIN	F	0.06%
MLI	B	0.06%
THO	D	0.06%
CNX	A	0.06%
NWSA	D	0.06%
LPX	B	0.06%
KDP	B	0.06%
DGX	C	0.06%
UFPI	C	0.06%
AMG	C	0.05%
CAG	C	0.05%
WAT	C	0.05%
CRUS	D	0.05%
BWA	D	0.05%
TKR	D	0.05%
MUR	F	0.05%
RGA	B	0.05%
LNC	D	0.05%
PKG	B	0.05%
MTN	D	0.05%
WTW	C	0.05%
VIRT	C	0.05%
NXST	D	0.05%
A	C	0.05%
DELL	C	0.05%
SANM	D	0.05%
FL	D	0.05%
WPC	C	0.05%
URBN	D	0.05%
G	C	0.05%
FDS	C	0.05%
SUI	C	0.05%
DG	F	0.05%
FITB	B	0.05%
FLEX	C	0.05%
JLL	B	0.05%
CDW	D	0.05%
PEG	A	0.05%
MHO	B	0.05%
ANSS	D	0.05%
IVZ	B	0.05%
TPH	C	0.05%
CMA	A	0.04%
APLE	C	0.04%
GEO	F	0.04%
OLN	D	0.04%
HUBG	C	0.04%
WTM	D	0.04%
FHI	B	0.04%
TGNA	C	0.04%
BLDR	C	0.04%
CRBG	D	0.04%
COLD	D	0.04%
HAL	F	0.04%
BAX	C	0.04%
MOS	F	0.04%
CNO	A	0.04%
SON	D	0.04%
AR	D	0.04%
XRAY	D	0.04%
RRC	D	0.04%
PVH	F	0.04%
GNW	B	0.04%
ELS	C	0.04%
VRSN	D	0.04%
MAN	C	0.04%
SEB	C	0.04%
ABM	D	0.04%
AGNC	B	0.04%
FLO	C	0.04%
MTG	B	0.04%
BTU	D	0.04%
THG	C	0.04%
GGG	C	0.04%
ZTS	C	0.04%
STLD	D	0.04%
SRCL	B	0.04%
KBH	B	0.04%
ACM	B	0.04%
WHR	C	0.04%
BDC	A	0.04%
FANG	D	0.04%
DOW	D	0.04%
NDSN	C	0.04%
WST	D	0.04%
NKE	D	0.04%
LANC	D	0.04%
GNRC	D	0.04%
SIG	C	0.04%
NOV	D	0.04%
PPG	D	0.04%
AVT	C	0.04%
M	F	0.04%
COOP	C	0.04%
NFG	B	0.04%
PAG	D	0.04%
SLGN	B	0.04%
BEN	F	0.04%
ULTA	D	0.04%
AKAM	D	0.03%
TXT	D	0.03%
ZION	D	0.03%
FNF	B	0.03%
HBAN	B	0.03%
VVV	D	0.03%
FR	C	0.03%
PRG	B	0.03%
NAVI	C	0.03%
MC	B	0.03%
DK	F	0.03%
MOH	D	0.03%
BKU	D	0.03%
SBAC	C	0.03%
BRKR	D	0.03%
BURL	C	0.03%
SJM	C	0.03%
PRIM	B	0.03%
SM	D	0.03%
MDU	B	0.03%
MTB	A	0.03%
WH	B	0.03%
HP	D	0.03%
SHOO	B	0.03%
RUSHA	C	0.03%
AMKR	F	0.03%
EQIX	B	0.03%
BJ	D	0.03%
SBH	B	0.03%
DLB	D	0.03%
RPRX	D	0.03%
TFX	C	0.03%
HBI	B	0.03%
HSIC	D	0.03%
LEA	F	0.03%
AVA	C	0.03%
PDCO	F	0.03%
GT	F	0.03%
MKL	C	0.03%
SEM	D	0.03%
SLVM	A	0.03%
JEF	B	0.03%
FND	C	0.03%
DINO	F	0.03%
DOX	C	0.03%
BHF	D	0.03%
HOLX	C	0.03%
VSH	F	0.03%
TER	D	0.03%
JHG	B	0.03%
ASO	C	0.03%
OMF	D	0.03%
UHAL	B	0.03%
IFF	C	0.03%
GMS	D	0.03%
CPNG	A	0.03%
PSA	B	0.03%
DDS	D	0.03%
OI	D	0.03%
AVTR	C	0.03%
CTVA	B	0.03%
LEG	D	0.02%
ODFL	D	0.02%
VFC	C	0.02%
PARA	F	0.02%
APOG	C	0.02%
NWL	D	0.02%
BXP	B	0.02%
HNI	C	0.02%
LXP	C	0.02%
SNDR	C	0.02%
ODP	F	0.02%
ANDE	D	0.02%
RHI	D	0.02%
DORM	B	0.02%
EWBC	D	0.02%
BBWI	F	0.02%
GES	F	0.02%
XRX	F	0.02%
BMRN	F	0.02%
CC	F	0.02%
IGT	D	0.02%
MCY	D	0.02%
LBRDK	F	0.02%
DOV	B	0.02%
XHR	B	0.02%
GPC	D	0.02%
AGCO	D	0.02%
NTCT	C	0.02%
AA	D	0.02%
DXC	C	0.02%
SXT	C	0.02%
GHC	B	0.02%
EPC	F	0.02%
REZI	D	0.02%
KBR	D	0.02%
CINF	C	0.02%
NSP	D	0.02%
VSTO	C	0.02%
FLS	D	0.02%
RLJ	D	0.02%
MKTX	C	0.02%
PFSI	C	0.02%
CG	D	0.02%
GEF	D	0.02%
HII	D	0.02%
GMED	D	0.02%
SKX	D	0.02%
KEY	B	0.02%
AIR	C	0.02%
KMPR	D	0.02%
CTLT	B	0.02%
COHR	B	0.02%
CXW	F	0.02%
JBHT	D	0.02%
PLXS	B	0.02%
APAM	C	0.02%
CHRD	F	0.02%
ALGN	D	0.02%
TDC	F	0.02%
PNM	B	0.02%
FAF	C	0.02%
WERN	D	0.02%
PINC	D	0.02%
LZB	B	0.02%
WRB	C	0.02%
MASI	D	0.02%
STC	B	0.02%
HOG	C	0.02%
BKE	C	0.02%
NDAQ	A	0.02%
ADNT	F	0.02%
UNF	C	0.02%
RYN	C	0.02%
GEHC	C	0.02%
NVT	D	0.02%
DLTR	F	0.02%
CTRA	D	0.02%
THS	C	0.02%
MATX	C	0.02%
AAP	F	0.01%
KNX	D	0.01%
SCHL	D	0.01%
UHAL	B	0.01%
SCL	D	0.01%
ARCH	F	0.01%
JAZZ	D	0.01%
CACC	F	0.01%
KALU	F	0.01%
UAL	C	0.01%
SCCO	D	0.01%
ACI	F	0.01%
SWN	D	0.01%
ECPG	D	0.01%
WGO	D	0.01%
TPR	C	0.01%
UVV	D	0.01%
ESI	D	0.01%
QRVO	F	0.01%
HELE	D	0.01%
HPP	F	0.01%
HUN	D	0.01%
MTDR	F	0.01%
MLKN	F	0.01%
SWX	C	0.01%
ELAN	D	0.01%
WOR	F	0.01%
BECN	D	0.01%
JELD	D	0.01%
SYNA	F	0.01%
HRL	D	0.01%
SIGI	D	0.01%
PFG	B	0.01%
ARCB	F	0.01%
INCY	C	0.01%
CENTA	D	0.01%
JBGS	C	0.01%
FLR	D	0.01%
AMED	C	0.01%
FHN	D	0.01%
AFG	B	0.01%
DTM	A	0.01%
WAFD	C	0.01%
SPB	B	0.01%
WMK	C	0.01%
CADE	C	0.01%
WTFC	C	0.01%
KN	D	0.01%
PECO	B	0.01%
CR	C	0.01%
ONB	C	0.01%
CBSH	D	0.01%
CBRL	D	0.01%
CSGS	C	0.01%
SAIC	C	0.01%
STRA	F	0.01%
SF	A	0.01%
TTMI	D	0.01%
CPB	B	0.01%
CPRI	D	0.01%
CVI	F	0.01%
DEI	B	0.01%
WBS	D	0.01%
TREX	F	0.01%
OMI	D	0.01%
SAH	D	0.01%
NNI	B	0.01%
LAD	C	0.01%
MHK	C	0.01%
KEX	C	0.01%
PSMT	B	0.01%
CWEN	B	0.01%
SNV	C	0.01%
BHE	C	0.01%
DAN	F	0.01%
PTEN	F	0.01%
RJF	C	0.01%
ESNT	B	0.01%
FYBR	C	0.01%
PHIN	C	0.01%
DNOW	D	0.01%
WAL	B	0.01%
EVRG	B	0.01%
NOMD	B	0.0%
WOLF	F	0.0%

MFUS Underweight 380 Positions Relative to FAD

Symbol	Grade	Weight
TT	A	-0.47%
GRMN	D	-0.45%
STX	C	-0.42%
VRT	C	-0.42%
SMMT	C	-0.4%
ISRG	C	-0.38%
NTNX	C	-0.36%
PLTR	A	-0.35%
DAL	C	-0.33%
CRWD	D	-0.29%
EXPE	C	-0.27%
ENSG	C	-0.26%
LYV	B	-0.26%
NTRA	B	-0.25%
HALO	C	-0.25%
RIVN	F	-0.25%
FSLR	C	-0.25%
MSFT	C	-0.24%
FRPT	B	-0.23%
BCO	A	-0.23%
ITGR	B	-0.23%
CVNA	B	-0.23%
MOD	B	-0.23%
INSM	D	-0.23%
CDNS	D	-0.22%
AXON	A	-0.22%
LNTH	D	-0.22%
AVAV	C	-0.22%
MGM	D	-0.21%
SNPS	D	-0.21%
SFBS	B	-0.21%
DDOG	D	-0.21%
NXPI	D	-0.21%
TOST	A	-0.21%
ADMA	B	-0.2%
WING	B	-0.2%
SO	A	-0.2%
ESS	C	-0.2%
PODD	B	-0.2%
PPL	B	-0.2%
KNF	B	-0.2%
TTD	B	-0.19%
TPL	A	-0.19%
SYK	C	-0.19%
ALNY	C	-0.19%
RYAN	C	-0.19%
PEGA	C	-0.19%
BMI	B	-0.19%
ARMK	C	-0.19%
ZETA	B	-0.19%
AVB	C	-0.19%
FSS	D	-0.18%
GKOS	C	-0.18%
MEDP	D	-0.18%
TKO	B	-0.18%
PRI	B	-0.18%
AAON	A	-0.18%
ALHC	C	-0.18%
PTGX	B	-0.17%
OSCR	C	-0.17%
SRPT	D	-0.17%
AM	B	-0.17%
ADI	C	-0.17%
DKNG	C	-0.17%
APPF	D	-0.16%
HLNE	A	-0.16%
WFRD	F	-0.16%
CRVL	B	-0.16%
HWKN	C	-0.16%
AMD	D	-0.16%
PRCT	B	-0.16%
CNK	C	-0.16%
HON	D	-0.16%
MIRM	D	-0.15%
EXLS	B	-0.15%
AXSM	B	-0.15%
HAS	B	-0.15%
ACIW	B	-0.15%
EPRT	A	-0.15%
SMAR	C	-0.15%
OHI	C	-0.15%
QTWO	B	-0.15%
ZS	F	-0.15%
ONTO	D	-0.15%
HQY	C	-0.15%
MTSI	D	-0.15%
SMTC	B	-0.14%
CFR	C	-0.14%
IBP	D	-0.14%
FTDR	B	-0.14%
CWST	D	-0.14%
DUOL	A	-0.14%
BPMC	D	-0.14%
KAI	C	-0.14%
SGBX	F	-0.14%
RDNT	B	-0.14%
PJT	B	-0.14%
SPNT	C	-0.14%
IESC	C	-0.14%
IRT	B	-0.14%
MMSI	B	-0.14%
PLNT	B	-0.14%
USLM	B	-0.14%
VRNS	C	-0.14%
LRN	B	-0.14%
RVMD	C	-0.14%
POWL	B	-0.14%
FOUR	C	-0.14%
ROAD	C	-0.14%
PI	B	-0.14%
OWL	C	-0.13%
OSW	C	-0.13%
OLED	C	-0.13%
ITRI	C	-0.13%
VRRM	D	-0.13%
TDW	F	-0.13%
TBBK	B	-0.13%
ALKT	D	-0.13%
GERN	D	-0.13%
BRBR	C	-0.13%
WHD	C	-0.13%
NCLH	C	-0.13%
STRL	B	-0.13%
AGIO	D	-0.13%
AMRX	B	-0.13%
KRYS	D	-0.13%
STWD	B	-0.13%
TWST	D	-0.12%
ELF	F	-0.12%
UFPT	A	-0.12%
BKD	D	-0.12%
IOT	A	-0.12%
EEFT	D	-0.12%
NHI	C	-0.12%
TMDX	C	-0.12%
ACLS	F	-0.12%
AFRM	C	-0.12%
CSWI	B	-0.12%
AZZ	D	-0.12%
EPAC	B	-0.11%
MBIN	D	-0.11%
LMAT	B	-0.11%
HURN	C	-0.11%
TNDM	C	-0.11%
PTCT	C	-0.11%
KTOS	C	-0.11%
MYGN	C	-0.11%
ICFI	B	-0.11%
KYMR	B	-0.11%
WYNN	D	-0.11%
RXST	C	-0.11%
ESTC	F	-0.11%
IONS	D	-0.11%
TRU	B	-0.11%
COLL	C	-0.11%
ALTR	C	-0.11%
IDCC	B	-0.11%
PLMR	C	-0.11%
CORT	B	-0.11%
CEIX	D	-0.11%
EXPO	B	-0.1%
TGLS	B	-0.1%
AGYS	D	-0.1%
HLX	D	-0.1%
ALKS	C	-0.1%
TPG	B	-0.1%
VERX	C	-0.1%
SPR	D	-0.1%
GRBK	C	-0.1%
SOFI	C	-0.1%
HIMS	D	-0.1%
BOWL	F	-0.1%
KNSL	C	-0.1%
GFF	D	-0.1%
ARDX	D	-0.1%
ADC	C	-0.1%
SKWD	C	-0.1%
PAR	C	-0.09%
BANF	B	-0.09%
SYBT	B	-0.09%
SBRA	C	-0.09%
RYTM	C	-0.09%
MSTR	D	-0.09%
DSGR	B	-0.09%
CRDO	D	-0.09%
CARS	D	-0.09%
HRI	C	-0.09%
AZEK	C	-0.09%
CHH	C	-0.09%
MRVL	C	-0.09%
WRBY	D	-0.09%
LIN	B	-0.09%
CBZ	D	-0.09%
FLNC	C	-0.09%
S	C	-0.09%
CMPR	D	-0.09%
BCRX	C	-0.09%
AKR	B	-0.09%
TNL	D	-0.09%
MSGS	B	-0.09%
CAL	F	-0.09%
ITCI	D	-0.09%
CPRX	C	-0.09%
PFGC	B	-0.09%
BLKB	C	-0.09%
BCPC	C	-0.09%
ZWS	B	-0.09%
RKLB	B	-0.08%
OTTR	D	-0.08%
MGNI	D	-0.08%
LKFN	C	-0.08%
CDRE	C	-0.08%
AEIS	D	-0.08%
PRGS	C	-0.08%
KNTK	B	-0.08%
ALX	B	-0.08%
ACVA	B	-0.08%
YOU	B	-0.08%
NET	D	-0.08%
ROK	F	-0.08%
CHCO	C	-0.08%
CARG	B	-0.08%
SMPL	D	-0.08%
WMG	D	-0.08%
LPG	F	-0.08%
BROS	D	-0.08%
ESRT	B	-0.08%
SHAK	C	-0.08%
INSW	D	-0.08%
MRUS	D	-0.08%
GIII	C	-0.08%
NSA	B	-0.08%
UE	B	-0.08%
AME	C	-0.08%
HASI	C	-0.08%
IIPR	B	-0.08%
VECO	F	-0.07%
ANIP	D	-0.07%
MIR	D	-0.07%
EVH	C	-0.07%
GH	D	-0.07%
THR	D	-0.07%
TNC	F	-0.07%
GPOR	D	-0.07%
DOCS	A	-0.07%
MARA	F	-0.07%
VGR	B	-0.07%
GBDC	C	-0.07%
HUBS	D	-0.07%
INFA	D	-0.07%
FORM	F	-0.07%
BA	F	-0.07%
ENV	C	-0.07%
NSSC	F	-0.07%
FIZZ	D	-0.07%
JJSF	C	-0.07%
WABC	D	-0.07%
AESI	C	-0.07%
SWI	B	-0.07%
AGM	D	-0.07%
ESE	B	-0.06%
JBI	F	-0.06%
SKT	A	-0.06%
SITM	C	-0.06%
CFLT	F	-0.06%
PDFS	D	-0.06%
CLDX	C	-0.06%
OUT	B	-0.06%
CRNX	C	-0.06%
IVT	C	-0.06%
SABR	C	-0.06%
NABL	D	-0.06%
FA	B	-0.06%
SHC	C	-0.06%
IRTC	F	-0.06%
CTRE	C	-0.06%
ENVX	F	-0.06%
EW	F	-0.06%
TGI	D	-0.06%
HRMY	B	-0.06%
AMR	F	-0.06%
DFH	C	-0.06%
PEB	D	-0.05%
EGP	C	-0.05%
WEX	C	-0.05%
ETWO	C	-0.05%
RRR	F	-0.05%
HEES	D	-0.05%
FOR	C	-0.05%
NNN	C	-0.05%
AMC	F	-0.05%
DOC	C	-0.05%
VCEL	D	-0.05%
OPCH	C	-0.05%
EPR	B	-0.05%
NOVA	C	-0.05%
WDFC	C	-0.05%
CELH	F	-0.05%
GIC	D	-0.05%
ALLE	C	-0.05%
KRG	C	-0.05%
REG	C	-0.05%
BRX	B	-0.05%
SXI	C	-0.05%
JOE	C	-0.05%
TR	C	-0.05%
PRVA	F	-0.05%
BOX	C	-0.05%
LTC	D	-0.05%
CNS	B	-0.05%
EXTR	C	-0.05%
AIV	B	-0.05%
MLNK	C	-0.05%
CCOI	C	-0.05%
MYRG	F	-0.04%
PGNY	F	-0.04%
VCYT	B	-0.04%
PCOR	F	-0.04%
TRIP	F	-0.04%
PDFS	D	-0.04%
TENB	D	-0.04%
AGL	F	-0.04%
RUN	C	-0.04%
XMTR	D	-0.04%
NCNO	D	-0.04%
BE	F	-0.04%
RAMP	F	-0.04%
FWRG	F	-0.04%
ALRM	F	-0.04%
IPAR	D	-0.04%
RHP	C	-0.04%
YETI	D	-0.04%
ZUO	F	-0.04%
WSC	D	-0.04%
TECH	D	-0.04%
DOCU	C	-0.04%
NTST	D	-0.03%
JAMF	D	-0.03%
PLYM	D	-0.03%
CNMD	D	-0.03%
LMND	D	-0.03%
DRVN	C	-0.03%
BANC	B	-0.03%
BEAM	F	-0.03%
IAS	D	-0.03%
AWR	B	-0.03%
DOCN	B	-0.03%
PHR	D	-0.03%
KW	C	-0.03%
NEO	C	-0.03%
CLSK	F	-0.03%
MGEE	B	-0.03%
INTA	B	-0.03%
FCPT	C	-0.03%
UMH	C	-0.03%
CWAN	B	-0.03%
DNLI	C	-0.03%
TGTX	C	-0.03%
CIVI	F	-0.03%
ALGM	F	-0.03%
RKT	C	-0.03%
AI	F	-0.02%
BASE	F	-0.02%
PLAY	F	-0.02%
CXM	F	-0.02%
UEC	D	-0.02%
CTKB	F	-0.02%
WNC	F	-0.02%
MCW	F	-0.02%
RES	D	-0.02%
GTX	D	-0.02%
UPWK	D	-0.02%
PLAB	F	-0.02%
NARI	F	-0.02%
MTRN	F	-0.02%
ROCK	D	-0.02%
EVTC	F	-0.02%
ALG	D	-0.02%
WINA	D	-0.02%
RNG	D	-0.02%