MFUS vs. FLQL ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Franklin LibertyQ U.S. Equity ETF (FLQL)

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

$50.42

Average Daily Volume

7,688

Number of Holdings ^*

809

* may have additional holdings in another (foreign) market

FLQL

Franklin LibertyQ U.S. Equity ETF

FLQL Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the LibertyQ U.S. Large Cap Equity Index (the U.S. Large Cap underlying index). Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the U.S. Large Cap underlying index. The U.S. Large Cap underlying index is based on the Russell 1000® Index using a methodology developed with Franklin Templeton to reflect Franklin Templeton's desired investment strategy.

Grade (RS Rating)

Last Trade

$57.94

Average Daily Volume

47,429

Number of Holdings ^*

210

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	FLQL
30 Days	2.56%	2.05%
60 Days	4.48%	4.76%
90 Days	6.34%	4.25%
12 Months	31.81%	34.98%

178 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in FLQL	Overlap
AAPL	C	0.97%	7.04%	0.97%
ABBV	B	1.56%	1.56%	1.56%
ADC	C	0.01%	0.1%	0.01%
AFL	A	0.22%	0.23%	0.22%
ALSN	B	0.09%	0.1%	0.09%
AMAT	D	0.59%	1.11%	0.59%
AMGN	D	1.01%	1.26%	1.01%
AMZN	C	1.6%	2.84%	1.6%
ANET	C	0.14%	0.81%	0.14%
APH	C	0.11%	0.58%	0.11%
APP	C	0.05%	0.19%	0.05%
AVB	C	0.03%	0.1%	0.03%
AVGO	C	1.68%	1.89%	1.68%
AVT	B	0.04%	0.09%	0.04%
AWI	B	0.03%	0.1%	0.03%
AYI	B	0.08%	0.1%	0.08%
BBY	A	0.23%	0.13%	0.13%
BJ	D	0.03%	0.1%	0.03%
BKNG	B	0.36%	1.0%	0.36%
BRK.A	C	2.37%	1.06%	1.06%
BSX	B	0.2%	0.78%	0.2%
C	C	0.63%	0.87%	0.63%
CACI	B	0.09%	0.1%	0.09%
CASY	D	0.15%	0.1%	0.1%
CAT	B	0.2%	1.29%	0.2%
CB	B	0.17%	0.57%	0.17%
CFG	D	0.03%	0.12%	0.03%
CHE	C	0.06%	0.1%	0.06%
CHRW	B	0.14%	0.1%	0.1%
CI	C	0.15%	0.62%	0.15%
CL	C	0.41%	0.58%	0.41%
CLH	C	0.04%	0.1%	0.04%
CMG	D	0.2%	0.57%	0.2%
CMI	B	0.13%	0.23%	0.13%
COKE	C	0.03%	0.09%	0.03%
COST	C	1.36%	1.68%	1.36%
CRI	D	0.06%	0.1%	0.06%
CROX	C	0.02%	0.1%	0.02%
CRUS	D	0.04%	0.08%	0.04%
CSL	B	0.02%	0.15%	0.02%
CTAS	C	0.19%	0.44%	0.19%
CW	B	0.1%	0.1%	0.1%
DECK	C	0.15%	0.2%	0.15%
DELL	C	0.03%	0.17%	0.03%
DGX	B	0.09%	0.09%	0.09%
DHI	C	0.07%	0.44%	0.07%
DKS	D	0.09%	0.11%	0.09%
DPZ	D	0.13%	0.11%	0.11%
DTM	C	0.01%	0.1%	0.01%
DVA	B	0.17%	0.11%	0.11%
EBAY	B	0.38%	0.18%	0.18%
EHC	B	0.09%	0.1%	0.09%
ELV	D	0.2%	0.38%	0.2%
EME	B	0.04%	0.1%	0.04%
EMN	B	0.04%	0.1%	0.04%
ESS	C	0.02%	0.11%	0.02%
ETR	A	0.04%	0.14%	0.04%
EVR	B	0.11%	0.11%	0.11%
EXR	C	0.13%	0.12%	0.12%
FANG	F	0.05%	0.2%	0.05%
FAST	C	0.11%	0.3%	0.11%
FICO	B	0.21%	0.15%	0.15%
FIX	B	0.05%	0.11%	0.05%
FOXA	B	0.1%	0.1%	0.1%
G	C	0.05%	0.1%	0.05%
GAP	F	0.05%	0.09%	0.05%
GD	C	0.24%	0.42%	0.24%
GLPI	C	0.07%	0.1%	0.07%
GLW	B	0.19%	0.19%	0.19%
GM	C	0.32%	0.31%	0.31%
GPK	C	0.08%	0.1%	0.08%
GS	B	0.35%	0.51%	0.35%
GWW	B	0.19%	0.33%	0.19%
HCA	B	0.3%	0.59%	0.3%
HIG	B	0.06%	0.19%	0.06%
HLT	B	0.09%	0.31%	0.09%
HPE	C	0.1%	0.19%	0.1%
HPQ	C	0.29%	0.28%	0.28%
HRB	C	0.08%	0.1%	0.08%
HWM	B	0.15%	0.22%	0.15%
IBM	B	1.14%	1.41%	1.14%
INGR	B	0.06%	0.1%	0.06%
IP	C	0.08%	0.11%	0.08%
IRM	C	0.12%	0.19%	0.12%
ISRG	C	0.23%	1.2%	0.23%
JEF	C	0.02%	0.1%	0.02%
JHG	B	0.04%	0.1%	0.04%
JNJ	C	1.28%	1.65%	1.28%
JNPR	A	0.13%	0.1%	0.1%
JPM	D	0.88%	1.07%	0.88%
K	A	0.15%	0.1%	0.1%
KEX	C	0.02%	0.1%	0.02%
KLAC	D	0.28%	0.85%	0.28%
KMB	C	0.18%	0.15%	0.15%
LAMR	B	0.05%	0.11%	0.05%
LDOS	A	0.11%	0.16%	0.11%
LEN	B	0.07%	0.1%	0.07%
LEN	B	0.07%	0.33%	0.07%
LII	C	0.22%	0.15%	0.15%
LLY	D	2.87%	1.68%	1.68%
LMT	A	0.82%	0.44%	0.44%
LNC	C	0.03%	0.1%	0.03%
LOPE	D	0.04%	0.1%	0.04%
LRCX	D	0.19%	0.75%	0.19%
LYB	D	0.18%	0.18%	0.18%
M	F	0.02%	0.09%	0.02%
MA	B	0.27%	1.69%	0.27%
MAS	B	0.06%	0.13%	0.06%
MCO	C	0.12%	0.58%	0.12%
MDU	B	0.03%	0.1%	0.03%
META	B	2.37%	2.56%	2.37%
MO	C	0.66%	0.77%	0.66%
MPWR	B	0.1%	0.14%	0.1%
MRK	F	1.0%	1.45%	1.0%
MSI	B	0.18%	0.53%	0.18%
MTG	B	0.03%	0.1%	0.03%
MUSA	D	0.15%	0.08%	0.08%
NEU	D	0.03%	0.1%	0.03%
NFG	B	0.05%	0.1%	0.05%
NNN	B	0.01%	0.1%	0.01%
NRG	B	0.07%	0.11%	0.07%
NTAP	D	0.1%	0.22%	0.1%
NVDA	C	1.64%	5.84%	1.64%
NVR	B	0.1%	0.23%	0.1%
O	B	0.06%	0.17%	0.06%
OC	C	0.02%	0.11%	0.02%
OGN	D	0.05%	0.09%	0.05%
OHI	C	0.02%	0.1%	0.02%
OMC	B	0.06%	0.1%	0.06%
ORCL	B	1.38%	0.8%	0.8%
PEG	B	0.06%	0.22%	0.06%
PH	B	0.13%	0.47%	0.13%
PHM	B	0.11%	0.25%	0.11%
PK	D	0.06%	0.1%	0.06%
PKG	B	0.07%	0.13%	0.07%
PM	C	0.83%	0.66%	0.66%
PPC	D	0.01%	0.09%	0.01%
PSA	C	0.1%	0.4%	0.1%
QCOM	D	0.8%	1.25%	0.8%
R	C	0.07%	0.1%	0.07%
RCL	B	0.08%	0.13%	0.08%
REGN	D	0.49%	0.82%	0.49%
RGA	C	0.06%	0.11%	0.06%
RGLD	C	0.04%	0.1%	0.04%
RL	B	0.03%	0.11%	0.03%
RMD	C	0.17%	0.14%	0.14%
ROL	C	0.07%	0.1%	0.07%
RSG	D	0.13%	0.3%	0.13%
RTX	B	0.23%	0.51%	0.23%
SCCO	C	0.0%	0.11%	0.0%
SO	B	0.13%	0.3%	0.13%
SPG	B	0.16%	0.44%	0.16%
SSNC	C	0.02%	0.1%	0.02%
STLD	C	0.04%	0.15%	0.04%
SYF	C	0.24%	0.16%	0.16%
T	B	0.74%	1.01%	0.74%
TER	C	0.04%	0.11%	0.04%
THC	C	0.29%	0.13%	0.13%
TJX	C	0.38%	0.94%	0.38%
TMUS	B	0.38%	0.5%	0.38%
TOL	A	0.06%	0.13%	0.06%
TSCO	B	0.12%	0.15%	0.12%
TXN	B	0.3%	1.24%	0.3%
TXRH	B	0.06%	0.1%	0.06%
UGI	B	0.01%	0.1%	0.01%
UHS	C	0.07%	0.12%	0.07%
UNH	C	0.79%	0.51%	0.51%
URI	B	0.09%	0.37%	0.09%
UTHR	B	0.18%	0.11%	0.11%
VRTX	D	0.22%	0.92%	0.22%
VZ	A	1.11%	1.32%	1.11%
WAB	B	0.05%	0.16%	0.05%
WM	D	0.26%	0.64%	0.26%
WMT	B	1.68%	1.63%	1.63%
WSM	C	0.21%	0.18%	0.18%
WSO	C	0.2%	0.12%	0.12%
WU	C	0.07%	0.1%	0.07%
XOM	D	0.42%	0.62%	0.42%

MFUS Overweight 632 Positions Relative to FLQL

Symbol	Grade	Weight
KO	B	1.16%
PG	C	1.04%
GILD	B	0.79%
TGT	C	0.77%
PEP	D	0.77%
WFC	D	0.73%
CVS	D	0.71%
PFE	D	0.64%
MMM	B	0.63%
GE	C	0.61%
CSCO	B	0.61%
HD	B	0.6%
PGR	C	0.6%
MCD	B	0.55%
UNP	D	0.54%
MCK	F	0.5%
NFLX	B	0.46%
BAC	D	0.39%
NOC	B	0.38%
KR	B	0.37%
MPC	F	0.36%
CVX	F	0.36%
BMY	C	0.36%
LOW	B	0.34%
AIG	D	0.34%
TMO	B	0.33%
MET	B	0.32%
NOW	C	0.31%
ICE	C	0.3%
AZO	B	0.29%
DHR	B	0.28%
V	C	0.28%
SPGI	C	0.27%
ALL	C	0.26%
MDLZ	C	0.26%
CHTR	D	0.25%
UPS	D	0.25%
ADM	D	0.25%
NEE	B	0.25%
COF	B	0.24%
ANF	D	0.24%
CAH	C	0.24%
PRU	C	0.23%
UBER	C	0.23%
AON	B	0.23%
PSX	F	0.23%
LHX	C	0.23%
ACN	C	0.23%
NEM	C	0.22%
PANW	D	0.22%
SHW	B	0.22%
VST	B	0.21%
AXP	B	0.21%
SFM	B	0.2%
TRV	C	0.2%
GIS	B	0.2%
MMC	C	0.19%
INTC	D	0.19%
ORLY	B	0.19%
MS	B	0.18%
TDG	B	0.17%
BK	B	0.17%
BLK	B	0.17%
VRSK	D	0.17%
CMCSA	C	0.16%
VLO	F	0.16%
BR	C	0.16%
EA	D	0.16%
KHC	C	0.16%
AMT	C	0.16%
TSN	D	0.16%
F	F	0.15%
BAH	B	0.15%
MU	D	0.15%
AJG	D	0.14%
KKR	B	0.14%
CME	B	0.14%
DUK	B	0.14%
SMCI	F	0.14%
IT	C	0.14%
PLTR	C	0.14%
EFX	C	0.13%
CEG	C	0.13%
SYY	C	0.13%
VTRS	D	0.13%
XYL	C	0.12%
YUM	B	0.12%
RPM	B	0.12%
BDX	D	0.12%
AMP	B	0.12%
CLX	C	0.12%
PNC	C	0.11%
DD	B	0.11%
CSX	C	0.11%
BX	C	0.11%
WBA	F	0.11%
PWR	B	0.11%
PYPL	B	0.11%
BRO	C	0.11%
WELL	C	0.11%
AOS	B	0.1%
MTD	C	0.1%
USB	C	0.1%
DG	F	0.1%
ITW	B	0.1%
WTW	B	0.1%
CRS	C	0.1%
AVY	C	0.1%
JKHY	B	0.1%
ADP	C	0.1%
GDDY	C	0.1%
AEO	D	0.09%
AEP	C	0.09%
OKE	C	0.09%
GPI	B	0.09%
TRGP	C	0.09%
LSTR	D	0.09%
KMI	C	0.09%
TMHC	B	0.09%
JXN	B	0.09%
EXPD	B	0.09%
DASH	B	0.09%
SBUX	C	0.09%
BWXT	A	0.09%
LPX	B	0.08%
ATR	B	0.08%
OTIS	B	0.08%
EQH	C	0.08%
SLG	C	0.08%
SRE	B	0.08%
BIIB	F	0.08%
TAP	D	0.08%
TFC	D	0.08%
TYL	C	0.08%
CCI	C	0.08%
AIZ	B	0.08%
CPRT	D	0.08%
BALL	C	0.08%
ADSK	B	0.08%
STE	B	0.08%
GEHC	B	0.08%
IEX	C	0.08%
TROW	C	0.08%
DFS	C	0.08%
WDC	C	0.08%
DLR	B	0.08%
ARES	B	0.08%
ITT	B	0.08%
IR	B	0.08%
WMB	C	0.08%
NUE	D	0.08%
KDP	B	0.08%
ECL	B	0.08%
NSC	C	0.07%
NSIT	C	0.07%
MLM	D	0.07%
COP	F	0.07%
BKR	C	0.07%
CHD	C	0.07%
TTC	F	0.07%
UFPI	C	0.07%
AN	C	0.07%
MTH	C	0.07%
NKE	D	0.07%
HCC	D	0.07%
VNO	B	0.07%
BCC	C	0.07%
MLI	B	0.07%
ALNY	C	0.07%
MNST	D	0.07%
WCC	C	0.07%
FIS	C	0.07%
EXC	B	0.07%
THO	C	0.07%
EMR	D	0.07%
D	C	0.07%
POOL	C	0.07%
CALM	B	0.07%
SEIC	B	0.07%
HLI	C	0.07%
ABG	D	0.07%
CNC	D	0.06%
ZTS	B	0.06%
SEE	C	0.06%
BC	C	0.06%
CNX	B	0.06%
FFIV	B	0.06%
HSY	D	0.06%
STZ	C	0.06%
L	D	0.06%
COIN	F	0.06%
JLL	B	0.06%
AMG	C	0.06%
FTNT	B	0.06%
ERIE	B	0.06%
TPH	C	0.06%
ED	B	0.06%
BERY	B	0.06%
IDXX	D	0.06%
JCI	B	0.06%
CPT	C	0.06%
MKC	C	0.06%
MMS	B	0.06%
MSCI	C	0.06%
FCN	C	0.06%
TTWO	D	0.06%
CCK	B	0.06%
SCI	C	0.06%
ROP	C	0.06%
MSM	D	0.06%
EXP	B	0.06%
ARW	B	0.05%
MHO	B	0.05%
NDSN	C	0.05%
CBRE	B	0.05%
CUBE	C	0.05%
NDAQ	C	0.05%
URBN	F	0.05%
PPG	C	0.05%
IBKR	B	0.05%
CAG	B	0.05%
VLTO	B	0.05%
HBI	A	0.05%
GNRC	D	0.05%
SLGN	B	0.05%
USFD	C	0.05%
CPB	C	0.05%
COOP	C	0.05%
SQ	D	0.05%
ATI	C	0.05%
SEB	D	0.05%
GNTX	D	0.05%
VIRT	C	0.05%
ANSS	D	0.05%
WAT	B	0.05%
BAX	C	0.05%
LPLA	D	0.05%
LUMN	C	0.05%
TEX	F	0.05%
WEN	C	0.05%
MTN	D	0.05%
ATGE	C	0.05%
ALLY	F	0.05%
CBT	B	0.05%
NXST	D	0.05%
BTU	C	0.05%
KTB	B	0.05%
FCNCA	D	0.05%
A	C	0.05%
EIX	B	0.05%
LECO	D	0.05%
SKYW	C	0.05%
CARR	B	0.05%
TW	B	0.05%
POST	B	0.05%
SUI	C	0.05%
CMC	D	0.05%
SLM	C	0.05%
LANC	F	0.04%
KBH	C	0.04%
TDS	B	0.04%
NYT	B	0.04%
AVTR	C	0.04%
DBRG	D	0.04%
PAYX	C	0.04%
UNM	B	0.04%
BHF	F	0.04%
IFF	A	0.04%
BLD	C	0.04%
MANH	B	0.04%
PPL	A	0.04%
CVLT	B	0.04%
TRN	C	0.04%
CDW	D	0.04%
BDC	B	0.04%
WTM	F	0.04%
ES	B	0.04%
EXEL	C	0.04%
JWN	C	0.04%
NWSA	D	0.04%
ASO	D	0.04%
EQR	C	0.04%
CMA	C	0.04%
ADBE	F	0.04%
CTVA	B	0.04%
FDS	C	0.04%
COLD	D	0.04%
SLVM	C	0.04%
NBIX	F	0.04%
PSTG	F	0.04%
SON	D	0.04%
PTC	C	0.04%
ELS	D	0.04%
HUBG	C	0.04%
MAC	B	0.04%
AMH	D	0.04%
CPNG	B	0.04%
UHAL	B	0.04%
FITB	B	0.04%
GATX	D	0.04%
FLEX	B	0.04%
INVH	D	0.04%
TKR	C	0.04%
MAR	B	0.04%
FLO	C	0.04%
AROC	D	0.04%
VRSN	C	0.04%
TGNA	C	0.04%
FTI	D	0.04%
ULTA	D	0.04%
HEI	C	0.04%
CRBG	C	0.04%
SCHW	D	0.04%
SMG	B	0.04%
VTR	C	0.04%
ABM	D	0.04%
CNO	C	0.04%
AGNC	B	0.04%
CE	D	0.04%
RS	D	0.04%
KD	F	0.04%
OLN	D	0.04%
FL	F	0.04%
SRCL	B	0.04%
BLDR	C	0.04%
THG	C	0.04%
DCI	C	0.04%
AR	C	0.04%
GVA	B	0.04%
WST	D	0.04%
SJM	C	0.04%
IPG	C	0.04%
SIG	C	0.04%
MOG.A	B	0.04%
BKE	B	0.03%
APAM	C	0.03%
NTRS	C	0.03%
FHI	B	0.03%
PLXS	B	0.03%
KSS	D	0.03%
THS	C	0.03%
DRH	C	0.03%
STC	C	0.03%
LW	D	0.03%
MSA	D	0.03%
LZB	C	0.03%
HXL	F	0.03%
RYN	C	0.03%
UNF	B	0.03%
WHR	C	0.03%
ADNT	D	0.03%
MRO	D	0.03%
HOG	C	0.03%
XRAY	D	0.03%
JBL	C	0.03%
XPO	D	0.03%
FNF	B	0.03%
DLTR	F	0.03%
AKAM	D	0.03%
HBAN	B	0.03%
DK	F	0.03%
SBAC	C	0.03%
CPAY	B	0.03%
BKU	D	0.03%
VC	F	0.03%
DDS	D	0.03%
MASI	C	0.03%
RLI	B	0.03%
OI	D	0.03%
DRI	C	0.03%
GMS	C	0.03%
COHR	C	0.03%
APLE	C	0.03%
MATX	B	0.03%
BURL	C	0.03%
UDR	C	0.03%
WPC	C	0.03%
HOOD	C	0.03%
X	F	0.03%
PRG	C	0.03%
GNW	C	0.03%
BFAM	C	0.03%
MC	C	0.03%
HII	F	0.03%
MTB	C	0.03%
WH	B	0.03%
GGG	C	0.03%
SM	F	0.03%
RPRX	C	0.03%
MAN	C	0.03%
TFX	B	0.03%
OSK	F	0.03%
GBX	D	0.03%
AVA	B	0.03%
MORN	C	0.03%
HUBB	B	0.03%
CMS	B	0.03%
IVZ	B	0.03%
HOLX	D	0.03%
ACM	B	0.03%
HSIC	C	0.03%
AMKR	F	0.03%
DOX	C	0.03%
TPX	B	0.03%
SHOO	B	0.03%
RUSHA	C	0.03%
GEO	F	0.03%
PRIM	B	0.03%
SEM	D	0.03%
FE	B	0.03%
SANM	D	0.03%
TDC	D	0.02%
GES	F	0.02%
BHE	C	0.02%
PHIN	C	0.02%
DAN	D	0.02%
CWEN	A	0.02%
AXTA	B	0.02%
LAD	B	0.02%
KIM	C	0.02%
FR	C	0.02%
ALGN	D	0.02%
DNOW	F	0.02%
EVRG	B	0.02%
WAL	B	0.02%
TTEK	C	0.02%
ATO	B	0.02%
APG	F	0.02%
BEN	F	0.02%
ODFL	D	0.02%
NWL	C	0.02%
VSCO	C	0.02%
HP	F	0.02%
VFC	B	0.02%
AES	C	0.02%
SATS	C	0.02%
LXP	C	0.02%
JBLU	C	0.02%
ODP	F	0.02%
EWBC	C	0.02%
HNI	C	0.02%
SNDR	B	0.02%
APOG	B	0.02%
LEG	D	0.02%
VSH	F	0.02%
PNR	B	0.02%
CCL	C	0.02%
BXP	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%
HST	D	0.02%
NAVI	D	0.02%
LNW	F	0.02%
DTE	A	0.02%
HRL	F	0.02%
GWRE	B	0.02%
VVV	D	0.02%
MCY	C	0.02%
LNT	A	0.02%
DOV	B	0.02%
YELP	D	0.02%
PMT	C	0.02%
CC	D	0.02%
CINF	C	0.02%
EPC	F	0.02%
MAA	C	0.02%
BRKR	D	0.02%
NSP	F	0.02%
AGCO	D	0.02%
NI	B	0.02%
VSTO	C	0.02%
NTCT	C	0.02%
DOW	C	0.02%
RLJ	D	0.02%
GHC	B	0.02%
SXT	B	0.02%
MKTX	D	0.02%
DLB	D	0.02%
KBR	D	0.02%
XHR	B	0.02%
CXW	F	0.02%
PBF	F	0.02%
PVH	D	0.02%
AIR	D	0.02%
SKX	C	0.02%
HAE	D	0.02%
SBH	B	0.02%
GMED	D	0.02%
CTLT	B	0.02%
KMPR	D	0.02%
PSN	B	0.02%
GEF	C	0.02%
PFSI	C	0.02%
JBHT	D	0.02%
KEY	C	0.02%
WMS	D	0.02%
PINC	D	0.02%
RRC	D	0.02%
FAF	B	0.02%
PAG	D	0.02%
WRB	D	0.02%
ACA	B	0.02%
LBRDK	C	0.02%
ORA	B	0.02%
OMF	D	0.02%
PDCO	F	0.02%
WERN	C	0.02%
PNM	B	0.02%
CG	C	0.02%
HUN	C	0.01%
AAP	F	0.01%
KNX	C	0.01%
NOV	F	0.01%
SCL	D	0.01%
UHAL	B	0.01%
DINO	F	0.01%
PARA	D	0.01%
MLKN	F	0.01%
ARCH	D	0.01%
CACC	F	0.01%
KALU	D	0.01%
ACI	F	0.01%
ECPG	D	0.01%
ELAN	D	0.01%
QRVO	F	0.01%
GIII	D	0.01%
SSB	C	0.01%
UVV	D	0.01%
MKSI	F	0.01%
ARI	F	0.01%
HTH	D	0.01%
IGT	D	0.01%
WGO	D	0.01%
PB	D	0.01%
ARMK	B	0.01%
ESI	C	0.01%
CFR	C	0.01%
UAL	B	0.01%
CNXN	B	0.01%
ALEX	C	0.01%
RDN	D	0.01%
FDP	C	0.01%
OUT	B	0.01%
IMKTA	D	0.01%
CNS	B	0.01%
WOR	F	0.01%
SVC	F	0.01%
PNW	C	0.01%
IDCC	B	0.01%
SR	B	0.01%
RKT	C	0.01%
CLF	F	0.01%
TPR	A	0.01%
SPR	D	0.01%
SWX	C	0.01%
MOS	F	0.01%
SIGI	D	0.01%
WAFD	D	0.01%
SHO	C	0.01%
CENTA	F	0.01%
PECO	C	0.01%
INCY	C	0.01%
FHN	D	0.01%
AMED	D	0.01%
JBGS	C	0.01%
PFG	B	0.01%
FLR	D	0.01%
ESAB	C	0.01%
WMK	D	0.01%
SPB	B	0.01%
JELD	D	0.01%
CBSH	D	0.01%
WTFC	C	0.01%
CADE	C	0.01%
CNM	F	0.01%
ONB	D	0.01%
BRC	B	0.01%
XRX	D	0.01%
DXC	D	0.01%
FELE	B	0.01%
STRA	F	0.01%
SAIC	C	0.01%
CSGS	C	0.01%
TTMI	D	0.01%
KN	D	0.01%
BBWI	D	0.01%
DY	C	0.01%
CPRI	D	0.01%
VNT	F	0.01%
CR	B	0.01%
LEA	D	0.01%
WBS	C	0.01%
CVI	F	0.01%
OMI	D	0.01%
SF	B	0.01%
LADR	D	0.01%
NNI	C	0.01%
WWD	C	0.01%
ZION	D	0.01%
AMWD	C	0.01%
GME	D	0.01%
GOLF	F	0.01%
MHK	B	0.01%
RBC	B	0.01%
DEI	B	0.01%
SAH	D	0.01%
SNV	D	0.01%
IOSP	F	0.01%
TNET	F	0.01%
H	B	0.01%
REZI	D	0.01%
SLB	F	0.01%
PTEN	F	0.01%
ICUI	C	0.01%
MUR	F	0.01%
HE	F	0.01%
GT	F	0.01%
AA	C	0.01%
FYBR	C	0.01%
PSMT	B	0.01%
SCS	D	0.01%
ESNT	B	0.01%
BWA	C	0.01%
LAUR	C	0.01%
RF	B	0.01%
BMRN	F	0.01%
NOMD	C	0.0%
WOLF	F	0.0%

MFUS Underweight 32 Positions Relative to FLQL

Symbol	Grade	Weight
MSFT	C	-6.21%
GOOGL	D	-1.9%
GOOG	D	-1.62%
SYK	C	-0.88%
TSLA	C	-0.86%
TT	B	-0.62%
PCAR	D	-0.4%
ADI	C	-0.35%
ACGL	B	-0.3%
MCHP	D	-0.27%
CTSH	B	-0.24%
GRMN	D	-0.21%
SPOT	C	-0.17%
DAL	C	-0.15%
TPL	C	-0.11%
KRC	C	-0.11%
VICI	C	-0.11%
CF	B	-0.11%
SWKS	F	-0.11%
AMCR	B	-0.1%
MEDP	F	-0.1%
AXS	B	-0.1%
FOX	B	-0.1%
TNL	C	-0.1%
EPR	C	-0.1%
WING	C	-0.1%
HIW	C	-0.1%
CUZ	C	-0.1%
CIVI	F	-0.09%
APA	F	-0.09%
DVN	F	-0.09%
SNX	C	-0.09%