MFUS vs. HLAL ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Wahed FTSE USA Shariah ETF (HLAL)

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

HLAL

Wahed FTSE USA Shariah ETF

HLAL Description

The investment seeks to track the total return performance, before fees and expenses, of the FTSE USA Shariah Index. The index is composed of common stocks of large and mid-capitalization U.S. companies the characteristics of which meet the requirements of the Shariah and are consistent with Islamic principles as interpreted by subject-matter experts. Under normal circumstances, at least 80% of its total assets will be invested in the component securities of the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$52.60

Average Daily Volume

60,755

Number of Holdings ^*

198

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	HLAL
30 Days	2.73%	2.35%
60 Days	3.41%	1.62%
90 Days	5.38%	3.31%
12 Months	32.49%	20.13%

134 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in HLAL	Overlap
A	D	0.05%	0.17%	0.05%
AAPL	C	0.97%	14.91%	0.97%
ADBE	C	0.04%	0.98%	0.04%
ADM	D	0.23%	0.11%	0.11%
ADP	B	0.11%	0.55%	0.11%
ADSK	A	0.09%	0.3%	0.09%
AKAM	D	0.02%	0.06%	0.02%
ALGN	D	0.01%	0.08%	0.01%
AMAT	F	0.5%	0.63%	0.5%
ANSS	B	0.05%	0.13%	0.05%
ATO	A	0.02%	0.1%	0.02%
BDX	F	0.11%	0.29%	0.11%
BIIB	F	0.06%	0.1%	0.06%
BKR	B	0.08%	0.2%	0.08%
BLDR	D	0.04%	0.09%	0.04%
BMRN	D	0.01%	0.05%	0.01%
BSX	B	0.21%	0.6%	0.21%
BURL	A	0.03%	0.08%	0.03%
CAH	B	0.27%	0.13%	0.13%
CARR	D	0.05%	0.28%	0.05%
CEG	D	0.11%	0.33%	0.11%
CHD	B	0.07%	0.12%	0.07%
CMI	A	0.14%	0.22%	0.14%
COP	C	0.07%	0.6%	0.07%
COR	B	0.17%	0.18%	0.17%
CSCO	B	0.68%	1.04%	0.68%
CTAS	B	0.19%	0.34%	0.19%
CTVA	C	0.04%	0.18%	0.04%
CVX	A	0.39%	1.24%	0.39%
DD	D	0.1%	0.15%	0.1%
DELL	C	0.03%	0.16%	0.03%
DGX	A	0.09%	0.08%	0.08%
DHI	D	0.06%	0.22%	0.06%
DHR	F	0.24%	0.67%	0.24%
DLTR	F	0.02%	0.06%	0.02%
DOV	A	0.04%	0.12%	0.04%
DOW	F	0.02%	0.12%	0.02%
EA	A	0.19%	0.2%	0.19%
EBAY	D	0.36%	0.14%	0.14%
EMR	A	0.09%	0.33%	0.09%
EXPD	D	0.11%	0.08%	0.08%
FANG	D	0.05%	0.15%	0.05%
FAST	B	0.13%	0.21%	0.13%
FFIV	B	0.06%	0.06%	0.06%
FLEX	A	0.05%	0.07%	0.05%
GEHC	F	0.07%	0.17%	0.07%
GLW	B	0.2%	0.16%	0.16%
GWW	B	0.22%	0.22%	0.22%
HOLX	D	0.03%	0.08%	0.03%
HPQ	B	0.29%	0.16%	0.16%
HUBB	B	0.03%	0.11%	0.03%
IDXX	F	0.05%	0.15%	0.05%
IEX	B	0.09%	0.08%	0.08%
IFF	D	0.03%	0.1%	0.03%
INTC	D	0.19%	0.46%	0.19%
IP	B	0.09%	0.07%	0.07%
IPG	D	0.04%	0.05%	0.04%
IR	B	0.09%	0.19%	0.09%
ISRG	A	0.29%	0.85%	0.29%
IT	C	0.14%	0.17%	0.14%
JBHT	C	0.02%	0.07%	0.02%
JCI	C	0.07%	0.25%	0.07%
JNJ	D	1.2%	1.65%	1.2%
JNPR	F	0.12%	0.05%	0.05%
KDP	D	0.07%	0.15%	0.07%
KLAC	D	0.22%	0.37%	0.22%
KO	D	1.01%	1.1%	1.01%
LEN	D	0.06%	0.18%	0.06%
LEN	D	0.06%	0.0%	0.0%
LRCX	F	0.16%	0.41%	0.16%
LYB	F	0.15%	0.1%	0.1%
MCK	B	0.64%	0.36%	0.36%
MDLZ	F	0.22%	0.39%	0.22%
META	D	2.32%	5.55%	2.32%
MKC	D	0.06%	0.09%	0.06%
MLM	B	0.07%	0.16%	0.07%
MMM	D	0.58%	0.32%	0.32%
MPC	D	0.35%	0.25%	0.25%
MRK	F	0.83%	1.11%	0.83%
MRO	B	0.03%	0.07%	0.03%
MU	D	0.16%	0.49%	0.16%
NEM	D	0.17%	0.22%	0.17%
NKE	D	0.06%	0.4%	0.06%
NOW	A	0.35%	0.92%	0.35%
NTAP	C	0.1%	0.11%	0.1%
NUE	C	0.08%	0.16%	0.08%
NWSA	B	0.04%	0.05%	0.04%
ODFL	B	0.02%	0.19%	0.02%
OMC	C	0.06%	0.09%	0.06%
PANW	C	0.25%	0.54%	0.25%
PFE	D	0.55%	0.63%	0.55%
PG	A	1.04%	1.81%	1.04%
PHM	D	0.1%	0.12%	0.1%
PKG	A	0.1%	0.1%	0.1%
PNR	A	0.02%	0.08%	0.02%
POOL	C	0.07%	0.06%	0.06%
PPG	F	0.04%	0.13%	0.04%
PSX	C	0.23%	0.25%	0.23%
PTC	A	0.04%	0.1%	0.04%
PWR	A	0.12%	0.22%	0.12%
QCOM	F	0.73%	0.77%	0.73%
QRVO	F	0.01%	0.03%	0.01%
REGN	F	0.35%	0.35%	0.35%
RMD	C	0.17%	0.16%	0.16%
ROL	B	0.06%	0.06%	0.06%
ROP	B	0.06%	0.26%	0.06%
RVTY	F	0.01%	0.06%	0.01%
SCCO	F	0.0%	0.04%	0.0%
SLB	C	0.01%	0.28%	0.01%
SMCI	F	0.08%	0.06%	0.06%
STE	F	0.07%	0.09%	0.07%
STLD	B	0.04%	0.1%	0.04%
TER	D	0.03%	0.07%	0.03%
TFX	F	0.02%	0.04%	0.02%
TJX	A	0.38%	0.61%	0.38%
TMO	F	0.27%	0.87%	0.27%
TSCO	D	0.11%	0.13%	0.11%
TTWO	A	0.08%	0.14%	0.08%
TXN	C	0.28%	0.81%	0.28%
TYL	B	0.08%	0.11%	0.08%
UAL	A	0.02%	0.03%	0.02%
UBER	D	0.2%	0.62%	0.2%
ULTA	F	0.03%	0.07%	0.03%
UPS	C	0.24%	0.43%	0.24%
VLO	C	0.16%	0.2%	0.16%
VLTO	D	0.04%	0.12%	0.04%
WAB	B	0.05%	0.15%	0.05%
WBA	F	0.11%	0.03%	0.03%
WDC	D	0.08%	0.09%	0.08%
WELL	A	0.12%	0.37%	0.12%
WST	C	0.04%	0.1%	0.04%
XOM	B	0.43%	2.42%	0.43%
XYL	D	0.11%	0.13%	0.11%
ZBRA	B	0.04%	0.09%	0.04%

MFUS Overweight 682 Positions Relative to HLAL

Symbol	Grade	Weight
BRK.A	B	2.44%
LLY	F	2.3%
NVDA	C	1.9%
WMT	A	1.77%
AMZN	C	1.65%
ORCL	B	1.56%
AVGO	D	1.54%
COST	B	1.36%
ABBV	D	1.35%
IBM	C	1.09%
VZ	C	1.03%
WFC	A	0.99%
JPM	A	0.99%
AMGN	D	0.92%
PM	B	0.89%
GILD	C	0.84%
UNH	C	0.81%
T	A	0.75%
LMT	D	0.75%
MO	A	0.74%
PEP	F	0.71%
C	A	0.7%
CVS	D	0.67%
HD	A	0.62%
PGR	A	0.59%
TGT	F	0.59%
GE	D	0.56%
NFLX	A	0.55%
MCD	D	0.52%
UNP	C	0.5%
BAC	A	0.45%
TMUS	B	0.43%
BKNG	A	0.42%
BMY	B	0.41%
GS	A	0.4%
GM	B	0.38%
KR	B	0.37%
CL	D	0.36%
LOW	D	0.35%
NOC	D	0.35%
AIG	B	0.34%
MET	A	0.32%
V	A	0.31%
SYF	B	0.31%
CHTR	C	0.3%
ICE	C	0.29%
SPGI	C	0.29%
COF	B	0.29%
MA	C	0.28%
AZO	C	0.28%
WM	A	0.27%
LHX	C	0.26%
THC	D	0.26%
ALL	A	0.26%
VST	B	0.26%
FICO	B	0.25%
AON	A	0.25%
SFM	A	0.25%
PLTR	B	0.24%
ANF	C	0.24%
HCA	F	0.24%
WSM	B	0.24%
ACN	C	0.24%
AXP	A	0.23%
NEE	D	0.23%
PRU	A	0.23%
GD	F	0.23%
LII	A	0.22%
AFL	B	0.22%
RTX	C	0.22%
MS	A	0.22%
VRTX	F	0.21%
SHW	A	0.21%
MSI	B	0.2%
ORLY	B	0.2%
MMC	B	0.2%
BBY	D	0.2%
CAT	B	0.2%
TRV	B	0.2%
CMG	B	0.2%
FI	A	0.19%
HWM	A	0.18%
TSN	B	0.18%
WSO	A	0.18%
AMP	A	0.18%
BK	A	0.18%
UTHR	C	0.18%
BLK	C	0.18%
SPG	B	0.17%
DECK	A	0.17%
CASY	A	0.17%
DVA	B	0.17%
BR	A	0.17%
KMB	D	0.17%
GIS	D	0.17%
AJG	B	0.16%
CB	C	0.16%
MUSA	A	0.16%
CMCSA	B	0.16%
VRSK	A	0.16%
TDG	D	0.15%
VTRS	A	0.15%
K	A	0.15%
ELV	F	0.15%
F	C	0.15%
KKR	A	0.15%
CHRW	C	0.14%
BAH	F	0.14%
AMT	D	0.14%
ANET	C	0.14%
CME	A	0.14%
KHC	F	0.14%
MCO	B	0.14%
PH	A	0.14%
CLX	B	0.13%
APP	B	0.13%
DPZ	C	0.13%
EVR	B	0.13%
SO	D	0.13%
BX	A	0.13%
RPM	A	0.13%
YUM	B	0.13%
CI	F	0.13%
RSG	A	0.13%
DUK	C	0.13%
PNC	B	0.12%
BRO	B	0.12%
SYY	B	0.12%
IRM	D	0.12%
APH	A	0.12%
PYPL	B	0.12%
GDDY	A	0.12%
RCL	A	0.11%
CW	B	0.11%
WTW	B	0.11%
WMB	A	0.11%
ALSN	B	0.11%
LDOS	C	0.11%
CSX	B	0.11%
HPE	B	0.11%
USB	A	0.11%
DASH	A	0.11%
FOXA	B	0.11%
COIN	C	0.11%
EXR	D	0.11%
KMI	A	0.11%
BWXT	B	0.11%
CRS	A	0.11%
TRGP	B	0.11%
AYI	B	0.1%
HLT	A	0.1%
JXN	C	0.1%
ITW	B	0.1%
OKE	A	0.1%
JKHY	D	0.1%
DFS	B	0.1%
GEN	B	0.1%
EFX	F	0.1%
LSTR	D	0.09%
WCC	B	0.09%
TFC	A	0.09%
AIZ	A	0.09%
MLI	C	0.09%
TROW	B	0.09%
EHC	B	0.09%
ARES	A	0.09%
URI	B	0.09%
NVR	D	0.09%
TMHC	B	0.09%
GPI	A	0.09%
AVY	D	0.09%
CALM	A	0.09%
DLR	B	0.09%
SBUX	A	0.09%
PSA	D	0.09%
NRG	B	0.08%
GEO	B	0.08%
LPX	B	0.08%
ABG	B	0.08%
DKS	C	0.08%
MTD	D	0.08%
AOS	F	0.08%
ECL	D	0.08%
HCC	B	0.08%
ATR	B	0.08%
AEP	D	0.08%
GPK	C	0.08%
SLG	B	0.08%
EQH	B	0.08%
DG	F	0.08%
CPRT	A	0.08%
SRE	A	0.08%
SEIC	B	0.08%
TAP	C	0.08%
ITT	A	0.08%
HLI	B	0.08%
CACI	D	0.08%
FIX	A	0.07%
UFPI	B	0.07%
SQ	B	0.07%
INGR	B	0.07%
EXP	A	0.07%
BCC	B	0.07%
EXC	C	0.07%
LPLA	A	0.07%
SCI	B	0.07%
NSC	B	0.07%
GLPI	C	0.07%
SKYW	B	0.07%
CCI	D	0.07%
AEO	F	0.07%
R	B	0.07%
VNO	B	0.07%
BALL	D	0.07%
THO	B	0.07%
MNST	C	0.07%
FTNT	C	0.07%
D	C	0.07%
HRB	D	0.07%
FIS	C	0.07%
CNX	A	0.07%
OTIS	C	0.07%
SEE	C	0.06%
JLL	D	0.06%
O	D	0.06%
LECO	B	0.06%
GNRC	B	0.06%
TPH	D	0.06%
KTB	B	0.06%
HBI	B	0.06%
ED	D	0.06%
MPWR	F	0.06%
BFH	B	0.06%
CHE	D	0.06%
ATGE	B	0.06%
VIRT	B	0.06%
CPT	B	0.06%
UHS	D	0.06%
TW	A	0.06%
MTH	D	0.06%
MAS	D	0.06%
HIG	B	0.06%
SLM	A	0.06%
CCK	C	0.06%
PK	B	0.06%
CMC	B	0.06%
TXRH	C	0.06%
MSM	C	0.06%
BERY	B	0.06%
WU	D	0.06%
AN	C	0.06%
PEG	A	0.06%
AMG	B	0.06%
L	A	0.06%
TTC	D	0.06%
FCNCA	A	0.06%
ALNY	D	0.06%
RGA	A	0.06%
IBKR	A	0.06%
TOL	B	0.06%
MSCI	C	0.06%
EME	C	0.05%
URBN	C	0.05%
CNO	A	0.05%
NFG	A	0.05%
NSIT	F	0.05%
ERIE	D	0.05%
LOPE	B	0.05%
AROC	B	0.05%
THG	A	0.05%
TDS	B	0.05%
PRIM	A	0.05%
CRI	D	0.05%
GNTX	C	0.05%
MOG.A	B	0.05%
ETR	B	0.05%
TGNA	B	0.05%
MTN	C	0.05%
EXEL	B	0.05%
SUI	D	0.05%
HOOD	B	0.05%
CBRE	B	0.05%
USFD	A	0.05%
NDAQ	A	0.05%
SLGN	A	0.05%
TEX	D	0.05%
CBT	C	0.05%
COOP	B	0.05%
SCHW	B	0.05%
LAMR	D	0.05%
ZTS	D	0.05%
POST	C	0.05%
AR	B	0.05%
KD	B	0.05%
WAT	B	0.05%
WEN	D	0.05%
ALLY	C	0.05%
EIX	B	0.05%
NXST	C	0.05%
HSY	F	0.05%
GAP	C	0.05%
LUMN	C	0.05%
GVA	A	0.05%
MMS	F	0.05%
BC	C	0.05%
FCN	D	0.05%
BTU	B	0.05%
STZ	D	0.05%
G	B	0.05%
XPO	B	0.04%
SON	D	0.04%
TKR	D	0.04%
AVT	C	0.04%
ACM	A	0.04%
FL	F	0.04%
JWN	C	0.04%
CRUS	D	0.04%
EQR	B	0.04%
AWI	A	0.04%
ESS	B	0.04%
AMH	D	0.04%
CXW	B	0.04%
CPNG	D	0.04%
INVH	D	0.04%
CLH	B	0.04%
BDC	B	0.04%
SEM	B	0.04%
WH	B	0.04%
PPL	B	0.04%
PSTG	D	0.04%
RUSHA	C	0.04%
ELS	C	0.04%
PAYX	C	0.04%
SMG	D	0.04%
OLN	D	0.04%
AGNC	D	0.04%
CFG	B	0.04%
MTB	A	0.04%
FLO	D	0.04%
CAG	D	0.04%
ARW	D	0.04%
FDS	B	0.04%
EMN	D	0.04%
SLVM	B	0.04%
TRN	C	0.04%
SANM	B	0.04%
OGN	D	0.04%
VRSN	F	0.04%
VTR	C	0.04%
CVLT	B	0.04%
BHF	B	0.04%
NBIX	C	0.04%
CUBE	D	0.04%
GBX	A	0.04%
SJM	D	0.04%
WTM	A	0.04%
CPB	D	0.04%
BAX	D	0.04%
JHG	A	0.04%
SIG	B	0.04%
HEI	B	0.04%
MAC	B	0.04%
HUBG	A	0.04%
RGLD	C	0.04%
FITB	A	0.04%
CMA	A	0.04%
ATI	D	0.04%
MHO	D	0.04%
CNC	D	0.04%
FTI	A	0.04%
CRBG	B	0.04%
WERN	C	0.04%
DCI	B	0.04%
GATX	A	0.04%
NDSN	B	0.04%
UNM	A	0.04%
ABM	B	0.04%
RS	B	0.04%
MAR	B	0.04%
STC	B	0.03%
HAE	C	0.03%
WRB	A	0.03%
SBAC	D	0.03%
GEF	A	0.03%
DRH	B	0.03%
COKE	C	0.03%
KMPR	B	0.03%
VC	D	0.03%
UNF	B	0.03%
LZB	B	0.03%
DK	C	0.03%
RRC	B	0.03%
GMED	A	0.03%
KEY	B	0.03%
MAN	D	0.03%
PINC	B	0.03%
ACA	A	0.03%
PNM	F	0.03%
APAM	B	0.03%
FNF	B	0.03%
AMKR	D	0.03%
DRI	B	0.03%
AVTR	F	0.03%
WPC	D	0.03%
BKE	B	0.03%
LBRDK	C	0.03%
ASO	F	0.03%
LNC	B	0.03%
FHI	A	0.03%
WHR	B	0.03%
OI	C	0.03%
JEF	A	0.03%
CDW	F	0.03%
OMF	A	0.03%
UDR	B	0.03%
SHOO	D	0.03%
DBRG	F	0.03%
CG	A	0.03%
PRG	C	0.03%
NTRS	A	0.03%
RPRX	D	0.03%
LW	C	0.03%
COLD	D	0.03%
PLXS	B	0.03%
APLE	B	0.03%
RL	B	0.03%
X	C	0.03%
JBL	B	0.03%
AVB	B	0.03%
MATX	C	0.03%
BLD	D	0.03%
DDS	B	0.03%
GMS	B	0.03%
CMS	C	0.03%
AVA	A	0.03%
GGG	B	0.03%
BKU	A	0.03%
MC	C	0.03%
DOX	D	0.03%
RLI	B	0.03%
KBH	D	0.03%
FE	C	0.03%
IVZ	B	0.03%
COHR	B	0.03%
NYT	C	0.03%
CDP	C	0.03%
HBAN	A	0.03%
TPX	B	0.03%
CPAY	A	0.03%
SM	B	0.03%
MANH	D	0.03%
ES	D	0.03%
GNW	A	0.03%
MORN	B	0.03%
BJ	A	0.03%
OSK	B	0.03%
HSIC	B	0.03%
MASI	A	0.03%
LANC	C	0.03%
LEG	F	0.02%
DTM	B	0.02%
TDC	D	0.02%
SATS	D	0.02%
TTMI	B	0.02%
LXP	D	0.02%
ODP	F	0.02%
KEX	C	0.02%
SSNC	B	0.02%
SF	B	0.02%
GT	C	0.02%
BRKR	D	0.02%
BHE	B	0.02%
EVRG	A	0.02%
KIM	A	0.02%
CSL	C	0.02%
AXTA	A	0.02%
LAUR	A	0.02%
VFC	C	0.02%
WAL	B	0.02%
WBS	A	0.02%
RF	A	0.02%
BEN	C	0.02%
PHIN	A	0.02%
JBLU	F	0.02%
NSP	D	0.02%
GME	C	0.02%
ZION	B	0.02%
BXP	D	0.02%
SNV	B	0.02%
ANDE	D	0.02%
APG	B	0.02%
HP	B	0.02%
HST	C	0.02%
AA	B	0.02%
VVV	F	0.02%
DNOW	B	0.02%
LAD	A	0.02%
M	D	0.02%
HNI	B	0.02%
PMT	D	0.02%
HRL	D	0.02%
DTE	C	0.02%
NAVI	C	0.02%
WKC	D	0.02%
WMS	D	0.02%
LNW	D	0.02%
REZI	A	0.02%
XRAY	F	0.02%
KBR	F	0.02%
EPC	D	0.02%
SNDR	B	0.02%
MAA	B	0.02%
RHI	B	0.02%
AGCO	D	0.02%
OSIS	B	0.02%
SKX	D	0.02%
PFSI	D	0.02%
NWL	B	0.02%
CC	C	0.02%
LNT	A	0.02%
PSN	D	0.02%
SXT	B	0.02%
KSS	F	0.02%
OHI	C	0.02%
SAM	C	0.02%
APOG	B	0.02%
YELP	C	0.02%
OC	A	0.02%
RLJ	C	0.02%
THS	D	0.02%
DORM	B	0.02%
NTCT	C	0.02%
XHR	B	0.02%
CTLT	B	0.02%
GWRE	A	0.02%
MDU	D	0.02%
MKTX	D	0.02%
SBH	C	0.02%
PVH	C	0.02%
PBF	D	0.02%
PDCO	D	0.02%
CINF	A	0.02%
PAG	B	0.02%
NI	A	0.02%
HII	D	0.02%
VSCO	B	0.02%
ADNT	F	0.02%
CE	F	0.02%
EWBC	A	0.02%
HOG	D	0.02%
MCY	A	0.02%
AIR	B	0.02%
DLB	B	0.02%
VSTO	A	0.02%
BFAM	D	0.02%
FAF	A	0.02%
GHC	C	0.02%
MSA	D	0.02%
ORA	B	0.02%
NEU	C	0.02%
RYN	D	0.02%
HXL	D	0.02%
MTG	C	0.02%
CCL	B	0.02%
SVC	F	0.01%
AAP	C	0.01%
CPRI	F	0.01%
NOV	C	0.01%
KNX	B	0.01%
UHAL	D	0.01%
RKT	F	0.01%
JELD	F	0.01%
DINO	D	0.01%
SCL	C	0.01%
IGT	F	0.01%
PARA	C	0.01%
MLKN	D	0.01%
GIII	D	0.01%
WOR	F	0.01%
ELAN	D	0.01%
CACC	D	0.01%
ARI	C	0.01%
CNXN	C	0.01%
MKSI	C	0.01%
ECPG	B	0.01%
HTH	B	0.01%
IMKTA	C	0.01%
RDN	C	0.01%
ACI	C	0.01%
SEB	F	0.01%
WGO	C	0.01%
CLF	F	0.01%
JBGS	D	0.01%
ALEX	C	0.01%
XRX	F	0.01%
UVV	B	0.01%
UGI	A	0.01%
SPR	D	0.01%
SHO	C	0.01%
ARMK	B	0.01%
OUT	A	0.01%
AMED	F	0.01%
PNW	B	0.01%
SR	A	0.01%
CNS	B	0.01%
SSB	B	0.01%
ESI	A	0.01%
KALU	C	0.01%
MOS	F	0.01%
SWX	B	0.01%
CVI	F	0.01%
CENTA	C	0.01%
OMI	F	0.01%
SAIC	F	0.01%
BRC	D	0.01%
PECO	A	0.01%
PB	A	0.01%
SIGI	C	0.01%
ARCH	B	0.01%
SPB	C	0.01%
PFG	D	0.01%
LEA	D	0.01%
WAFD	B	0.01%
DY	D	0.01%
CROX	D	0.01%
AES	F	0.01%
FDP	B	0.01%
WMK	C	0.01%
DAN	D	0.01%
CNM	D	0.01%
CFR	B	0.01%
MHK	D	0.01%
FELE	B	0.01%
INCY	C	0.01%
PPC	C	0.01%
BBWI	D	0.01%
TPR	B	0.01%
KN	B	0.01%
STRA	C	0.01%
NNN	D	0.01%
DXC	B	0.01%
NNI	D	0.01%
ESNT	D	0.01%
GES	F	0.01%
FLR	B	0.01%
ESAB	B	0.01%
LADR	B	0.01%
ONB	B	0.01%
IDCC	A	0.01%
TTEK	F	0.01%
CBSH	A	0.01%
ICUI	D	0.01%
WWD	B	0.01%
MUR	D	0.01%
TNET	D	0.01%
CADE	B	0.01%
CWEN	C	0.01%
CSGS	B	0.01%
UHAL	D	0.01%
BWA	D	0.01%
FHN	A	0.01%
FYBR	D	0.01%
H	B	0.01%
WTFC	A	0.01%
PSMT	C	0.01%
AMWD	C	0.01%
VNT	B	0.01%
CR	A	0.01%
ADC	B	0.01%
PTEN	C	0.01%
SCS	C	0.01%
FR	C	0.01%
GOLF	B	0.01%
IOSP	B	0.01%
SAH	A	0.01%
DEI	B	0.01%
RBC	A	0.01%
HE	C	0.01%
VSH	D	0.01%
NOMD	D	0.0%
WOLF	F	0.0%
HUN	F	0.0%

MFUS Underweight 64 Positions Relative to HLAL

Symbol	Grade	Weight
MSFT	F	-13.84%
GOOGL	C	-4.63%
TSLA	B	-4.25%
GOOG	C	-3.91%
CRM	B	-1.36%
AMD	F	-0.99%
LIN	D	-0.97%
ABT	B	-0.9%
SYK	C	-0.63%
MDT	D	-0.49%
PLD	D	-0.48%
ADI	D	-0.47%
TT	A	-0.42%
GEV	B	-0.41%
SNPS	B	-0.37%
CDNS	B	-0.37%
MRVL	B	-0.35%
APD	A	-0.33%
FDX	B	-0.29%
NXPI	D	-0.25%
PCAR	B	-0.25%
VRT	B	-0.22%
ROST	C	-0.21%
AXON	A	-0.2%
KVUE	A	-0.2%
HES	B	-0.19%
EW	C	-0.19%
LULU	C	-0.17%
VMC	B	-0.16%
OXY	D	-0.15%
GRMN	B	-0.14%
ROK	B	-0.14%
ON	D	-0.13%
FTV	C	-0.12%
HAL	C	-0.12%
DVN	F	-0.11%
ZBH	C	-0.1%
WY	D	-0.1%
FSLR	F	-0.09%
LH	C	-0.09%
ILMN	D	-0.09%
GPC	D	-0.08%
TRMB	B	-0.08%
ARE	D	-0.08%
SNA	A	-0.08%
PODD	C	-0.08%
EL	F	-0.07%
CF	B	-0.07%
ICLR	D	-0.07%
BG	F	-0.06%
ALB	C	-0.06%
SWK	D	-0.06%
REG	B	-0.06%
APTV	D	-0.06%
DAL	C	-0.05%
TECH	D	-0.05%
OKTA	C	-0.05%
CRL	C	-0.04%
LKQ	D	-0.04%
NWS	B	-0.02%
GFS	C	-0.02%
WLK	D	-0.02%
LUV	C	-0.02%
AGR	B	-0.01%