MFUS vs. FXR ETF Comparison

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

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

FXR

First Trust Industrials AlphaDEX

FXR 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 StrataQuant(R) Industrials 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 NYSE Euronext to objectively identify and select stocks from the Russell 1000(R) Index in the industrials and producer durables sectors 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

$82.15

Average Daily Volume

33,507

Number of Holdings ^*

137

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	FXR
30 Days	2.73%	7.85%
60 Days	3.41%	9.12%
90 Days	5.38%	12.26%
12 Months	32.49%	40.52%

101 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in FXR	Overlap
ADP	B	0.11%	0.25%	0.11%
AGCO	D	0.02%	0.85%	0.02%
ALSN	B	0.11%	1.1%	0.11%
AOS	F	0.08%	0.37%	0.08%
ATI	D	0.04%	0.38%	0.04%
ATR	B	0.08%	0.49%	0.08%
AWI	A	0.04%	0.82%	0.04%
AXP	A	0.23%	1.24%	0.23%
AXTA	A	0.02%	0.25%	0.02%
AYI	B	0.1%	0.84%	0.1%
BAH	F	0.15%	0.86%	0.15%
BALL	D	0.07%	0.21%	0.07%
BC	C	0.06%	0.87%	0.06%
BERY	B	0.06%	0.88%	0.06%
BLD	D	0.03%	0.63%	0.03%
BLDR	D	0.04%	0.84%	0.04%
BWXT	B	0.11%	0.83%	0.11%
CARR	D	0.05%	0.42%	0.05%
CAT	B	0.2%	0.69%	0.2%
CMI	A	0.14%	0.51%	0.14%
CNM	D	0.01%	0.43%	0.01%
COF	B	0.29%	0.86%	0.29%
CSL	C	0.02%	0.9%	0.02%
CSX	B	0.11%	0.72%	0.11%
CTAS	B	0.19%	0.95%	0.19%
CW	B	0.11%	0.25%	0.11%
DCI	B	0.04%	0.73%	0.04%
DOV	A	0.04%	0.74%	0.04%
DOW	F	0.02%	0.37%	0.02%
EFX	F	0.11%	0.63%	0.11%
EME	C	0.04%	1.35%	0.04%
EMR	A	0.09%	0.27%	0.09%
ESAB	B	0.01%	0.54%	0.01%
EXP	A	0.07%	0.96%	0.07%
EXPD	D	0.11%	0.21%	0.11%
FCN	D	0.05%	0.39%	0.05%
FI	A	0.19%	1.06%	0.19%
FICO	B	0.25%	1.4%	0.25%
FIX	A	0.06%	1.32%	0.06%
G	B	0.06%	1.35%	0.06%
GD	F	0.24%	0.44%	0.24%
GE	D	0.56%	0.85%	0.56%
GGG	B	0.03%	0.23%	0.03%
GNRC	B	0.06%	1.06%	0.06%
GPK	C	0.08%	0.87%	0.08%
GWW	B	0.21%	0.51%	0.21%
HEI	B	0.04%	1.24%	0.04%
HII	D	0.02%	0.67%	0.02%
HWM	A	0.17%	1.32%	0.17%
IEX	B	0.09%	0.48%	0.09%
ITT	A	0.08%	0.23%	0.08%
JBHT	C	0.02%	0.75%	0.02%
JKHY	D	0.1%	0.22%	0.1%
KEX	C	0.02%	0.74%	0.02%
KNX	B	0.01%	0.73%	0.01%
LECO	B	0.06%	0.49%	0.06%
LHX	C	0.26%	0.24%	0.24%
LII	A	0.21%	0.72%	0.21%
LMT	D	0.75%	1.08%	0.75%
LPX	B	0.08%	1.22%	0.08%
LSTR	D	0.09%	0.22%	0.09%
MAS	D	0.06%	0.21%	0.06%
MDU	D	0.02%	1.38%	0.02%
MLM	B	0.07%	0.99%	0.07%
MMM	D	0.6%	0.87%	0.6%
MSA	D	0.02%	0.22%	0.02%
MSM	C	0.06%	0.9%	0.06%
NDSN	B	0.04%	0.22%	0.04%
OC	A	0.02%	1.29%	0.02%
OSK	B	0.04%	1.3%	0.04%
PH	A	0.14%	0.25%	0.14%
PKG	A	0.1%	0.77%	0.1%
PNR	A	0.02%	0.49%	0.02%
PPG	F	0.04%	0.42%	0.04%
PWR	A	0.12%	1.27%	0.12%
PYPL	B	0.12%	0.5%	0.12%
R	B	0.07%	1.03%	0.07%
RHI	B	0.02%	0.5%	0.02%
RPM	A	0.13%	0.25%	0.13%
SEE	C	0.06%	0.44%	0.06%
SHW	A	0.22%	0.71%	0.22%
SLGN	A	0.05%	0.72%	0.05%
SNDR	B	0.02%	0.97%	0.02%
SON	D	0.04%	1.08%	0.04%
SPR	D	0.01%	0.65%	0.01%
SQ	B	0.06%	0.56%	0.06%
SYF	B	0.31%	1.52%	0.31%
TDG	D	0.15%	0.85%	0.15%
TTC	D	0.06%	0.43%	0.06%
TTEK	F	0.01%	1.02%	0.01%
UNP	C	0.51%	0.22%	0.22%
UPS	C	0.24%	0.44%	0.24%
URI	B	0.09%	1.23%	0.09%
VLTO	D	0.04%	0.65%	0.04%
VNT	B	0.01%	1.04%	0.01%
WAB	B	0.05%	0.24%	0.05%
WCC	B	0.09%	1.45%	0.09%
WMS	D	0.02%	0.37%	0.02%
WU	D	0.06%	0.62%	0.06%
WWD	B	0.01%	0.23%	0.01%
ZBRA	B	0.04%	0.75%	0.04%

MFUS Overweight 714 Positions Relative to FXR

Symbol	Grade	Weight
BRK.A	B	2.42%
LLY	F	2.39%
META	D	2.35%
NVDA	C	1.9%
WMT	A	1.71%
AMZN	C	1.71%
AVGO	D	1.59%
ORCL	B	1.52%
ABBV	D	1.36%
COST	B	1.35%
JNJ	D	1.18%
IBM	C	1.05%
PG	A	1.01%
VZ	C	1.0%
KO	D	1.0%
JPM	A	0.99%
WFC	A	0.97%
AAPL	C	0.96%
AMGN	D	0.94%
GILD	C	0.87%
PM	B	0.87%
MRK	F	0.84%
UNH	C	0.79%
QCOM	F	0.77%
PEP	F	0.74%
TGT	F	0.74%
MO	A	0.73%
T	A	0.73%
C	A	0.69%
CSCO	B	0.68%
CVS	D	0.65%
MCK	B	0.63%
HD	A	0.62%
PGR	A	0.59%
PFE	D	0.57%
AMAT	F	0.55%
MCD	D	0.53%
NFLX	A	0.52%
BAC	A	0.45%
XOM	B	0.43%
TMUS	B	0.43%
BKNG	A	0.42%
GS	A	0.41%
BMY	B	0.41%
GM	B	0.4%
CVX	A	0.39%
KR	B	0.38%
TJX	A	0.37%
NOW	A	0.36%
EBAY	D	0.36%
REGN	F	0.36%
CL	D	0.35%
LOW	D	0.35%
NOC	D	0.35%
MPC	D	0.34%
AIG	B	0.34%
MET	A	0.32%
V	A	0.31%
CHTR	C	0.3%
ISRG	A	0.29%
ICE	C	0.29%
TXN	C	0.29%
SPGI	C	0.29%
THC	D	0.28%
WM	A	0.28%
MA	C	0.28%
HPQ	B	0.28%
TMO	F	0.28%
AZO	C	0.28%
CAH	B	0.27%
ALL	A	0.26%
ACN	C	0.25%
PANW	C	0.25%
HCA	F	0.25%
SFM	A	0.25%
ANF	C	0.25%
DHR	F	0.24%
AON	A	0.24%
KLAC	D	0.23%
MDLZ	F	0.23%
PLTR	B	0.23%
PSX	C	0.23%
PRU	A	0.23%
VST	B	0.23%
RTX	C	0.22%
NEE	D	0.22%
ADM	D	0.22%
MS	A	0.22%
VRTX	F	0.22%
UBER	D	0.21%
BBY	D	0.21%
AFL	B	0.21%
MSI	B	0.2%
MMC	B	0.2%
GLW	B	0.2%
INTC	D	0.2%
TRV	B	0.2%
BSX	B	0.2%
ORLY	B	0.2%
CMG	B	0.2%
BLK	C	0.19%
UTHR	C	0.19%
TSN	B	0.18%
BK	A	0.18%
AMP	A	0.18%
WSM	B	0.18%
EA	A	0.18%
DECK	A	0.17%
COR	B	0.17%
BR	A	0.17%
LRCX	F	0.17%
WSO	A	0.17%
GIS	D	0.17%
ELV	F	0.16%
NEM	D	0.16%
MU	D	0.16%
AJG	B	0.16%
RMD	C	0.16%
F	C	0.16%
DVA	B	0.16%
CB	C	0.16%
MUSA	A	0.16%
VLO	C	0.16%
KMB	D	0.16%
SPG	B	0.16%
CMCSA	B	0.16%
CASY	A	0.16%
VRSK	A	0.16%
MCO	B	0.15%
KHC	F	0.15%
IT	C	0.15%
K	A	0.15%
LYB	F	0.15%
KKR	A	0.15%
CME	A	0.14%
CHRW	C	0.14%
ANET	C	0.14%
VTRS	A	0.14%
BX	A	0.13%
SO	D	0.13%
DPZ	C	0.13%
EVR	B	0.13%
FAST	B	0.13%
DUK	C	0.13%
JNPR	F	0.13%
RSG	A	0.13%
AMT	D	0.13%
CI	F	0.13%
YUM	B	0.13%
IRM	D	0.12%
WELL	A	0.12%
WBA	F	0.12%
PNC	B	0.12%
BRO	B	0.12%
GDDY	A	0.12%
SYY	B	0.12%
APH	A	0.12%
CLX	B	0.12%
GEN	B	0.11%
CEG	D	0.11%
KMI	A	0.11%
TRGP	B	0.11%
USB	A	0.11%
CRS	A	0.11%
WTW	B	0.11%
HPE	B	0.11%
DASH	A	0.11%
EXR	D	0.11%
TSCO	D	0.11%
APP	B	0.11%
LDOS	C	0.11%
FOXA	B	0.11%
BDX	F	0.11%
PHM	D	0.1%
OKE	A	0.1%
COIN	C	0.1%
NTAP	C	0.1%
HLT	A	0.1%
JXN	C	0.1%
WMB	A	0.1%
DD	D	0.1%
ITW	B	0.1%
RCL	A	0.1%
DFS	B	0.1%
XYL	D	0.1%
SEIC	B	0.09%
AIZ	A	0.09%
TFC	A	0.09%
DGX	A	0.09%
CPRT	A	0.09%
TAP	C	0.09%
MLI	C	0.09%
DG	F	0.09%
ARES	A	0.09%
CALM	A	0.09%
IR	B	0.09%
DLR	B	0.09%
TROW	B	0.09%
ADSK	A	0.09%
IP	B	0.09%
EHC	B	0.09%
CACI	D	0.09%
TMHC	B	0.09%
NVR	D	0.09%
AVY	D	0.09%
GPI	A	0.09%
PSA	D	0.09%
SBUX	A	0.09%
HRB	D	0.08%
BKR	B	0.08%
AEP	D	0.08%
WDC	D	0.08%
DKS	C	0.08%
SLG	B	0.08%
ECL	D	0.08%
SRE	A	0.08%
NUE	C	0.08%
ABG	B	0.08%
TYL	B	0.08%
MTD	D	0.08%
HLI	B	0.08%
EQH	B	0.08%
BIIB	F	0.07%
ROL	B	0.07%
GLPI	C	0.07%
MSCI	C	0.07%
EXC	C	0.07%
SCI	B	0.07%
LPLA	A	0.07%
UFPI	B	0.07%
JCI	C	0.07%
CHD	B	0.07%
CCI	D	0.07%
COP	C	0.07%
BCC	B	0.07%
INGR	B	0.07%
POOL	C	0.07%
NSC	B	0.07%
D	C	0.07%
SKYW	B	0.07%
GEHC	F	0.07%
GEO	B	0.07%
CNX	A	0.07%
VNO	B	0.07%
THO	B	0.07%
NRG	B	0.07%
FTNT	C	0.07%
KDP	D	0.07%
AEO	F	0.07%
STE	F	0.07%
OTIS	C	0.07%
TTWO	A	0.07%
MNST	C	0.07%
FIS	C	0.07%
HCC	B	0.07%
STZ	D	0.06%
VIRT	B	0.06%
TW	A	0.06%
GAP	C	0.06%
ATGE	B	0.06%
TPH	D	0.06%
BFH	B	0.06%
JLL	D	0.06%
NKE	D	0.06%
HIG	B	0.06%
CPT	B	0.06%
KTB	B	0.06%
CHE	D	0.06%
MPWR	F	0.06%
CCK	C	0.06%
SLM	A	0.06%
UHS	D	0.06%
CMC	B	0.06%
FCNCA	A	0.06%
PEG	A	0.06%
MTH	D	0.06%
IBKR	A	0.06%
LUMN	C	0.06%
L	A	0.06%
PK	B	0.06%
TXRH	C	0.06%
DHI	D	0.06%
FFIV	B	0.06%
AMG	B	0.06%
AN	C	0.06%
RGA	A	0.06%
OMC	C	0.06%
ROP	B	0.06%
TOL	B	0.06%
ALNY	D	0.06%
LEN	D	0.06%
TDS	B	0.05%
NFG	A	0.05%
CNO	A	0.05%
PRIM	A	0.05%
FANG	D	0.05%
FLEX	A	0.05%
THG	A	0.05%
AR	B	0.05%
ETR	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%
A	D	0.05%
WST	C	0.05%
GNTX	C	0.05%
NDAQ	A	0.05%
MTN	C	0.05%
CBRE	B	0.05%
EXEL	B	0.05%
CRI	D	0.05%
USFD	A	0.05%
EIX	B	0.05%
POST	C	0.05%
COOP	B	0.05%
SCHW	B	0.05%
ZTS	D	0.05%
TEX	D	0.05%
LAMR	D	0.05%
KD	B	0.05%
IDXX	F	0.05%
CBT	C	0.05%
GVA	A	0.05%
NXST	C	0.05%
ANSS	B	0.05%
HBI	B	0.05%
ALLY	C	0.05%
WEN	D	0.05%
MMS	F	0.05%
HSY	F	0.05%
WAT	B	0.05%
SMCI	F	0.05%
BTU	B	0.05%
ED	D	0.05%
O	D	0.05%
MKC	D	0.05%
AVT	C	0.04%
XPO	B	0.04%
LANC	C	0.04%
TKR	D	0.04%
EQR	B	0.04%
PPL	B	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%
CTVA	C	0.04%
PSTG	D	0.04%
AGNC	D	0.04%
BDC	B	0.04%
SLVM	B	0.04%
CLH	B	0.04%
FLO	D	0.04%
ADBE	C	0.04%
WH	B	0.04%
ELS	C	0.04%
FL	F	0.04%
MTB	A	0.04%
ULTA	F	0.04%
EMN	D	0.04%
OLN	D	0.04%
CFG	B	0.04%
PAYX	C	0.04%
ARW	D	0.04%
CAG	D	0.04%
CPNG	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%
FDS	B	0.04%
NBIX	C	0.04%
VRSN	F	0.04%
BAX	D	0.04%
NWSA	B	0.04%
CUBE	D	0.04%
SJM	D	0.04%
WTM	A	0.04%
PTC	A	0.04%
OGN	D	0.04%
BHF	B	0.04%
IPG	D	0.04%
STLD	B	0.04%
MAC	B	0.04%
CPB	D	0.04%
GBX	A	0.04%
HUBG	A	0.04%
FTI	A	0.04%
SIG	B	0.04%
MHO	D	0.04%
CNC	D	0.04%
GATX	A	0.04%
CRBG	B	0.04%
FITB	A	0.04%
HOOD	B	0.04%
JHG	A	0.04%
CMA	A	0.04%
UNM	A	0.04%
RS	B	0.04%
AROC	B	0.04%
ABM	B	0.04%
ERIE	D	0.04%
WERN	C	0.04%
MAR	B	0.04%
COKE	C	0.03%
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%
KEY	B	0.03%
WPC	D	0.03%
HAE	C	0.03%
UNF	B	0.03%
PINC	B	0.03%
APAM	B	0.03%
FNF	B	0.03%
VC	D	0.03%
MAN	D	0.03%
DK	C	0.03%
JEF	A	0.03%
AMKR	D	0.03%
COLD	D	0.03%
LBRDK	C	0.03%
DRI	B	0.03%
BKE	B	0.03%
FHI	A	0.03%
MRO	B	0.03%
LNC	B	0.03%
AVTR	F	0.03%
OMF	A	0.03%
RPRX	D	0.03%
BURL	A	0.03%
X	C	0.03%
NTRS	A	0.03%
TER	D	0.03%
DELL	C	0.03%
UDR	B	0.03%
PLXS	B	0.03%
CDW	F	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%
JBL	B	0.03%
AVB	B	0.03%
AVA	A	0.03%
DBRG	F	0.03%
CMS	C	0.03%
LW	C	0.03%
HSIC	B	0.03%
HOLX	D	0.03%
COHR	B	0.03%
RL	B	0.03%
FE	C	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%
HBAN	A	0.03%
IVZ	B	0.03%
HUBB	B	0.03%
CPAY	A	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%
ACM	A	0.03%
MORN	B	0.03%
MANH	D	0.03%
ODP	F	0.02%
IOSP	B	0.02%
LXP	D	0.02%
SAH	A	0.02%
LEG	F	0.02%
TTMI	B	0.02%
VSH	D	0.02%
SSNC	B	0.02%
EVRG	A	0.02%
LAUR	A	0.02%
UAL	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%
ATO	A	0.02%
BEN	C	0.02%
RF	A	0.02%
WAL	B	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%
ODFL	B	0.02%
HST	C	0.02%
DNOW	B	0.02%
DTE	C	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%
HRL	D	0.02%
OSIS	B	0.02%
NAVI	C	0.02%
LNW	D	0.02%
EPC	D	0.02%
M	D	0.02%
MAA	B	0.02%
LNT	A	0.02%
KBR	F	0.02%
JBLU	F	0.02%
PFSI	D	0.02%
VVV	F	0.02%
THS	D	0.02%
SKX	D	0.02%
CC	C	0.02%
DLB	B	0.02%
NWL	B	0.02%
OHI	C	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%
NI	A	0.02%
XHR	B	0.02%
PDCO	D	0.02%
PBF	D	0.02%
MKTX	D	0.02%
CINF	A	0.02%
EWBC	A	0.02%
NTCT	C	0.02%
VSCO	B	0.02%
MCY	A	0.02%
AIR	B	0.02%
HOG	D	0.02%
CE	F	0.02%
FAF	A	0.02%
SBH	C	0.02%
PAG	B	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%
AKAM	D	0.02%
ADNT	F	0.02%
ORA	B	0.02%
MTG	C	0.02%
TFX	F	0.02%
GEF	A	0.02%
WRB	A	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%
RKT	F	0.01%
UHAL	D	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%
RVTY	F	0.01%
ARI	C	0.01%
WOR	F	0.01%
ELAN	D	0.01%
CNXN	C	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%
SAIC	F	0.01%
OMI	F	0.01%
FDP	B	0.01%
PFG	D	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%
AES	F	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%
INCY	C	0.01%
NNI	D	0.01%
GES	F	0.01%
CWEN	C	0.01%
ONB	B	0.01%
CBSH	A	0.01%
MUR	D	0.01%
CR	A	0.01%
ICUI	D	0.01%
CSGS	B	0.01%
BMRN	D	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%
ALGN	D	0.01%
ADC	B	0.01%
H	B	0.01%
SATS	D	0.01%
RBC	A	0.01%
UHAL	D	0.01%
BWA	D	0.01%
SLB	C	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%
TDC	D	0.01%
SCCO	F	0.0%
NOMD	D	0.0%
WOLF	F	0.0%
HUN	F	0.0%

MFUS Underweight 36 Positions Relative to FXR

Symbol	Grade	Weight
AXON	A	-1.77%
AAON	B	-1.44%
SNA	A	-1.44%
PCAR	B	-1.36%
GPN	B	-1.33%
FOUR	B	-1.3%
AL	B	-1.27%
TT	A	-1.23%
CNH	C	-1.12%
GTES	A	-1.07%
FDX	B	-0.96%
ADTN	A	-0.93%
CXT	B	-0.89%
TXT	D	-0.88%
VSTS	C	-0.86%
TRU	D	-0.86%
TDY	B	-0.76%
NVT	B	-0.74%
EEFT	B	-0.72%
MIDD	C	-0.68%
SSD	D	-0.67%
DE	A	-0.66%
SAIA	B	-0.56%
GXO	B	-0.52%
J	F	-0.48%
AZEK	A	-0.45%
FTV	C	-0.43%
AMCR	D	-0.41%
FLS	B	-0.26%
HON	B	-0.25%
AME	A	-0.25%
VMC	B	-0.25%
KEYS	A	-0.22%
ALLE	D	-0.22%
LFUS	F	-0.21%
FBIN	D	-0.19%