MFUS vs. HYBB ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to iShares BB Rated Corporate Bond ETF (HYBB)

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

$51.71

Average Daily Volume

5,422

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

HYBB

iShares BB Rated Corporate Bond ETF

HYBB Description

The investment seeks to track the investment results of the ICE BofA BB US High Yield Constrained Index composed of BB, or equivalently rated, fixed rate U.S. dollar-denominated bonds issued by U.S. and non-U.S. corporations. The fund generally will invest at least 90% of its assets in the component securities of the underlying index and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates (BlackRock Cash Funds), as well as in securities not included in the index, but which BFA believes will help it track the index.

Grade (RS Rating)

Last Trade

$46.58

Average Daily Volume

53,763

Number of Holdings ^*

257

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	HYBB
30 Days	1.40%	0.53%
60 Days	3.06%	-1.00%
90 Days	4.64%	0.13%
12 Months	31.57%	7.77%

142 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in HYBB	Overlap
AA	A	0.02%	0.06%	0.02%
AAP	D	0.01%	0.03%	0.01%
ABG	C	0.08%	0.05%	0.05%
ACI	C	0.01%	0.08%	0.01%
ACM	B	0.03%	0.14%	0.03%
ADNT	F	0.02%	0.08%	0.02%
AES	F	0.01%	0.05%	0.01%
AIR	B	0.02%	0.09%	0.02%
AIZ	A	0.09%	0.06%	0.06%
ALLY	C	0.05%	0.07%	0.05%
ALSN	B	0.11%	0.05%	0.05%
AMKR	D	0.03%	0.08%	0.03%
AR	B	0.05%	0.05%	0.05%
ATGE	B	0.06%	0.07%	0.06%
AVTR	F	0.03%	0.11%	0.03%
AXTA	B	0.02%	0.08%	0.02%
BALL	F	0.07%	0.1%	0.07%
BBWI	C	0.01%	0.04%	0.01%
BCC	B	0.07%	0.06%	0.06%
BERY	C	0.06%	0.03%	0.03%
BFH	C	0.06%	0.14%	0.06%
BLD	D	0.03%	0.05%	0.03%
BLDR	D	0.04%	0.08%	0.04%
BWXT	B	0.11%	0.06%	0.06%
CACC	D	0.01%	0.06%	0.01%
CCK	D	0.06%	0.06%	0.06%
CCL	A	0.02%	0.29%	0.02%
CHTR	C	0.3%	0.06%	0.06%
CLF	F	0.01%	0.05%	0.01%
CLH	C	0.04%	0.04%	0.04%
CMC	B	0.06%	0.04%	0.04%
CNX	A	0.07%	0.06%	0.06%
COHR	B	0.03%	0.14%	0.03%
COOP	B	0.05%	0.07%	0.05%
CRI	F	0.05%	0.08%	0.05%
CRS	B	0.11%	0.05%	0.05%
CXW	C	0.04%	0.08%	0.04%
DAN	D	0.01%	0.05%	0.01%
DTE	C	0.02%	0.11%	0.02%
DVA	C	0.16%	0.14%	0.14%
DY	D	0.01%	0.07%	0.01%
ECPG	C	0.01%	0.08%	0.01%
EHC	B	0.09%	0.05%	0.05%
EIX	B	0.05%	0.07%	0.05%
EPC	F	0.02%	0.07%	0.02%
ESAB	C	0.01%	0.11%	0.01%
ESI	B	0.01%	0.12%	0.01%
FL	F	0.04%	0.05%	0.04%
FLR	B	0.01%	0.08%	0.01%
GAP	C	0.06%	0.1%	0.06%
GDDY	A	0.12%	0.09%	0.09%
GEN	B	0.11%	0.09%	0.09%
GEO	B	0.07%	0.09%	0.07%
GHC	B	0.02%	0.07%	0.02%
GNW	A	0.03%	0.04%	0.03%
GOLF	B	0.01%	0.05%	0.01%
GPI	B	0.09%	0.07%	0.07%
GPK	C	0.08%	0.04%	0.04%
HLT	A	0.1%	0.07%	0.07%
HOLX	D	0.03%	0.06%	0.03%
IGT	F	0.01%	0.11%	0.01%
IMKTA	C	0.01%	0.04%	0.01%
IRM	C	0.12%	0.07%	0.07%
JBLU	F	0.02%	0.3%	0.02%
JWN	D	0.04%	0.05%	0.04%
KBH	D	0.03%	0.04%	0.03%
KBR	F	0.02%	0.04%	0.02%
KSS	F	0.02%	0.04%	0.02%
LAD	A	0.02%	0.07%	0.02%
LADR	B	0.01%	0.08%	0.01%
LAMR	C	0.05%	0.05%	0.05%
LPX	B	0.08%	0.05%	0.05%
LW	C	0.03%	0.08%	0.03%
M	F	0.02%	0.02%	0.02%
MHO	D	0.04%	0.04%	0.04%
MTN	C	0.05%	0.09%	0.05%
MUR	D	0.01%	0.05%	0.01%
MUSA	B	0.16%	0.04%	0.04%
NAVI	F	0.02%	0.07%	0.02%
NRG	B	0.07%	0.06%	0.06%
NSIT	F	0.05%	0.07%	0.05%
NWL	C	0.02%	0.06%	0.02%
NWSA	A	0.04%	0.07%	0.04%
NXST	C	0.05%	0.13%	0.05%
OGN	F	0.04%	0.08%	0.04%
OI	C	0.03%	0.05%	0.03%
OLN	F	0.04%	0.07%	0.04%
OMF	A	0.03%	0.03%	0.03%
OUT	A	0.01%	0.08%	0.01%
PAG	B	0.02%	0.07%	0.02%
PARA	C	0.01%	0.08%	0.01%
PFSI	C	0.02%	0.07%	0.02%
PHIN	A	0.02%	0.07%	0.02%
PK	C	0.06%	0.09%	0.06%
POST	C	0.05%	0.15%	0.05%
PPC	C	0.01%	0.08%	0.01%
PTC	B	0.04%	0.07%	0.04%
RCL	A	0.1%	0.04%	0.04%
REZI	A	0.02%	0.04%	0.02%
RLJ	C	0.02%	0.07%	0.02%
RRC	B	0.03%	0.06%	0.03%
SAH	C	0.02%	0.07%	0.02%
SBAC	D	0.03%	0.2%	0.03%
SBH	C	0.02%	0.1%	0.02%
SCI	B	0.07%	0.08%	0.07%
SCS	C	0.01%	0.07%	0.01%
SEE	C	0.06%	0.06%	0.06%
SLGN	A	0.05%	0.09%	0.05%
SLM	A	0.06%	0.08%	0.06%
SM	B	0.03%	0.06%	0.03%
SPR	D	0.01%	0.04%	0.01%
SQ	A	0.06%	0.13%	0.06%
SYF	B	0.31%	0.11%	0.11%
TDG	D	0.15%	0.16%	0.15%
TEX	F	0.05%	0.09%	0.05%
TFX	F	0.02%	0.07%	0.02%
TGNA	B	0.05%	0.07%	0.05%
THC	D	0.28%	0.08%	0.08%
THO	B	0.07%	0.08%	0.07%
TMHC	C	0.09%	0.06%	0.06%
TNET	F	0.01%	0.07%	0.01%
TPH	D	0.06%	0.05%	0.05%
TPX	B	0.03%	0.1%	0.03%
TRN	B	0.04%	0.1%	0.04%
TTMI	C	0.02%	0.06%	0.02%
UAL	A	0.02%	0.27%	0.02%
URI	C	0.09%	0.07%	0.07%
VFC	C	0.02%	0.04%	0.02%
VNO	C	0.07%	0.05%	0.05%
VST	A	0.23%	0.15%	0.15%
VSTO	A	0.02%	0.06%	0.02%
WAL	B	0.02%	0.09%	0.02%
WBA	F	0.12%	0.03%	0.03%
WCC	B	0.09%	0.12%	0.09%
WDC	D	0.08%	0.33%	0.08%
WGO	C	0.01%	0.05%	0.01%
WH	B	0.04%	0.08%	0.04%
WMS	F	0.02%	0.06%	0.02%
X	B	0.03%	0.04%	0.03%
XPO	B	0.04%	0.08%	0.04%
YUM	D	0.13%	0.04%	0.04%
ZBRA	B	0.04%	0.08%	0.04%

MFUS Overweight 673 Positions Relative to HYBB

Symbol	Grade	Weight
BRK.A	B	2.42%
LLY	F	2.39%
META	D	2.35%
NVDA	B	1.9%
WMT	A	1.71%
AMZN	C	1.71%
AVGO	D	1.59%
ORCL	A	1.52%
ABBV	F	1.36%
COST	A	1.35%
JNJ	C	1.18%
IBM	C	1.05%
PG	C	1.01%
VZ	C	1.0%
KO	D	1.0%
JPM	A	0.99%
WFC	A	0.97%
AAPL	C	0.96%
AMGN	F	0.94%
GILD	C	0.87%
PM	B	0.87%
MRK	D	0.84%
UNH	B	0.79%
QCOM	F	0.77%
LMT	D	0.75%
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	A	0.63%
HD	B	0.62%
MMM	D	0.6%
PGR	A	0.59%
PFE	F	0.57%
GE	D	0.56%
AMAT	F	0.55%
MCD	D	0.53%
NFLX	A	0.52%
UNP	C	0.51%
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	C	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	C	0.35%
NOC	D	0.35%
MPC	D	0.34%
AIG	B	0.34%
MET	A	0.32%
V	A	0.31%
ISRG	A	0.29%
ICE	C	0.29%
TXN	C	0.29%
COF	C	0.29%
SPGI	C	0.29%
WM	B	0.28%
MA	B	0.28%
HPQ	B	0.28%
TMO	F	0.28%
AZO	C	0.28%
CAH	B	0.27%
LHX	C	0.26%
ALL	A	0.26%
FICO	B	0.25%
ACN	B	0.25%
PANW	B	0.25%
HCA	F	0.25%
SFM	A	0.25%
ANF	F	0.25%
DHR	F	0.24%
GD	D	0.24%
UPS	C	0.24%
AON	A	0.24%
KLAC	F	0.23%
AXP	A	0.23%
MDLZ	F	0.23%
PLTR	B	0.23%
PSX	C	0.23%
PRU	A	0.23%
RTX	D	0.22%
SHW	B	0.22%
NEE	C	0.22%
ADM	D	0.22%
MS	A	0.22%
VRTX	D	0.22%
UBER	F	0.21%
BBY	D	0.21%
LII	A	0.21%
AFL	B	0.21%
GWW	B	0.21%
MSI	B	0.2%
MMC	B	0.2%
GLW	B	0.2%
INTC	C	0.2%
TRV	B	0.2%
BSX	A	0.2%
ORLY	B	0.2%
CAT	B	0.2%
CMG	B	0.2%
FI	A	0.19%
BLK	B	0.19%
UTHR	C	0.19%
CTAS	B	0.19%
TSN	B	0.18%
BK	A	0.18%
AMP	A	0.18%
WSM	C	0.18%
EA	A	0.18%
DECK	A	0.17%
HWM	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	A	0.16%
RMD	C	0.16%
F	C	0.16%
CB	C	0.16%
VLO	C	0.16%
KMB	C	0.16%
SPG	A	0.16%
CMCSA	B	0.16%
CASY	A	0.16%
VRSK	A	0.16%
MCO	B	0.15%
BAH	F	0.15%
KHC	F	0.15%
IT	C	0.15%
K	A	0.15%
LYB	F	0.15%
KKR	A	0.15%
CME	B	0.14%
CHRW	B	0.14%
ANET	C	0.14%
CMI	A	0.14%
VTRS	A	0.14%
PH	A	0.14%
BX	A	0.13%
SO	C	0.13%
DPZ	C	0.13%
EVR	B	0.13%
FAST	B	0.13%
DUK	C	0.13%
JNPR	D	0.13%
RSG	A	0.13%
RPM	A	0.13%
AMT	C	0.13%
CI	D	0.13%
WELL	A	0.12%
PNC	B	0.12%
BRO	B	0.12%
PWR	A	0.12%
SYY	D	0.12%
PYPL	B	0.12%
APH	A	0.12%
CLX	A	0.12%
CW	C	0.11%
CEG	C	0.11%
KMI	A	0.11%
TRGP	A	0.11%
EXPD	C	0.11%
USB	A	0.11%
WTW	B	0.11%
HPE	B	0.11%
DASH	B	0.11%
EFX	F	0.11%
EXR	C	0.11%
CSX	C	0.11%
TSCO	D	0.11%
APP	B	0.11%
LDOS	C	0.11%
ADP	A	0.11%
FOXA	A	0.11%
BDX	F	0.11%
PHM	D	0.1%
OKE	A	0.1%
COIN	C	0.1%
NTAP	C	0.1%
AYI	B	0.1%
PKG	A	0.1%
JXN	C	0.1%
WMB	A	0.1%
DD	C	0.1%
ITW	B	0.1%
JKHY	D	0.1%
DFS	B	0.1%
XYL	D	0.1%
SEIC	B	0.09%
TFC	A	0.09%
DGX	A	0.09%
CPRT	B	0.09%
TAP	C	0.09%
MLI	B	0.09%
EMR	B	0.09%
IEX	C	0.09%
DG	F	0.09%
ARES	A	0.09%
CALM	A	0.09%
LSTR	D	0.09%
IR	B	0.09%
DLR	B	0.09%
TROW	B	0.09%
ADSK	A	0.09%
IP	A	0.09%
CACI	D	0.09%
NVR	D	0.09%
AVY	F	0.09%
PSA	C	0.09%
SBUX	A	0.09%
HRB	D	0.08%
BKR	A	0.08%
AEP	C	0.08%
DKS	D	0.08%
AOS	F	0.08%
SLG	B	0.08%
ECL	D	0.08%
SRE	A	0.08%
NUE	C	0.08%
ATR	B	0.08%
TYL	B	0.08%
MTD	F	0.08%
HLI	A	0.08%
ITT	A	0.08%
EQH	C	0.08%
BIIB	F	0.07%
ROL	B	0.07%
GLPI	C	0.07%
MSCI	C	0.07%
EXC	C	0.07%
LPLA	A	0.07%
UFPI	C	0.07%
JCI	B	0.07%
EXP	B	0.07%
CHD	A	0.07%
CCI	C	0.07%
COP	C	0.07%
INGR	C	0.07%
POOL	C	0.07%
NSC	B	0.07%
D	C	0.07%
MLM	C	0.07%
SKYW	C	0.07%
GEHC	D	0.07%
R	B	0.07%
FTNT	C	0.07%
KDP	F	0.07%
AEO	F	0.07%
STE	D	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%
G	B	0.06%
VIRT	A	0.06%
BC	C	0.06%
TW	A	0.06%
LECO	C	0.06%
JLL	D	0.06%
NKE	F	0.06%
HIG	B	0.06%
GNRC	C	0.06%
CPT	B	0.06%
KTB	B	0.06%
CHE	D	0.06%
MPWR	F	0.06%
UHS	D	0.06%
FCNCA	A	0.06%
PEG	A	0.06%
MTH	D	0.06%
FIX	A	0.06%
IBKR	A	0.06%
LUMN	C	0.06%
MAS	D	0.06%
WU	F	0.06%
L	A	0.06%
TXRH	B	0.06%
DHI	F	0.06%
TTC	C	0.06%
FFIV	B	0.06%
AMG	B	0.06%
AN	C	0.06%
RGA	A	0.06%
MSM	C	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	B	0.05%
PRIM	A	0.05%
FANG	C	0.05%
FLEX	B	0.05%
THG	A	0.05%
ETR	B	0.05%
LOPE	C	0.05%
URBN	C	0.05%
MOG.A	B	0.05%
SUI	C	0.05%
A	D	0.05%
WST	C	0.05%
GNTX	C	0.05%
NDAQ	A	0.05%
CBRE	B	0.05%
EXEL	B	0.05%
CARR	C	0.05%
USFD	A	0.05%
SCHW	B	0.05%
ZTS	D	0.05%
KD	B	0.05%
IDXX	F	0.05%
CBT	D	0.05%
GVA	A	0.05%
ANSS	B	0.05%
HBI	B	0.05%
WEN	D	0.05%
FCN	F	0.05%
WAB	B	0.05%
MMS	F	0.05%
HSY	F	0.05%
WAT	C	0.05%
SMCI	F	0.05%
BTU	B	0.05%
ED	C	0.05%
O	C	0.05%
MKC	C	0.05%
SON	F	0.04%
AVT	C	0.04%
OSK	C	0.04%
LANC	C	0.04%
TKR	D	0.04%
EQR	C	0.04%
PPL	A	0.04%
AWI	A	0.04%
SEM	B	0.04%
AMH	C	0.04%
CRUS	D	0.04%
ESS	B	0.04%
INVH	D	0.04%
SMG	C	0.04%
CTVA	C	0.04%
PSTG	D	0.04%
AGNC	C	0.04%
BDC	C	0.04%
SLVM	B	0.04%
FLO	D	0.04%
ADBE	C	0.04%
ELS	C	0.04%
MTB	A	0.04%
ULTA	F	0.04%
EMN	C	0.04%
CFG	B	0.04%
PAYX	B	0.04%
ARW	D	0.04%
CAG	F	0.04%
CPNG	D	0.04%
RUSHA	C	0.04%
SANM	B	0.04%
VTR	B	0.04%
RGLD	C	0.04%
CVLT	B	0.04%
FDS	B	0.04%
NBIX	C	0.04%
VRSN	C	0.04%
BAX	F	0.04%
CUBE	C	0.04%
SJM	D	0.04%
WTM	A	0.04%
BHF	C	0.04%
ATI	C	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%
HEI	A	0.04%
FTI	A	0.04%
VLTO	C	0.04%
SIG	B	0.04%
CNC	D	0.04%
GATX	A	0.04%
CRBG	B	0.04%
FITB	B	0.04%
EME	A	0.04%
HOOD	B	0.04%
JHG	B	0.04%
CMA	B	0.04%
UNM	A	0.04%
RS	B	0.04%
PPG	F	0.04%
AROC	A	0.04%
ABM	B	0.04%
NDSN	B	0.04%
ERIE	D	0.04%
DCI	B	0.04%
WERN	C	0.04%
DOV	A	0.04%
MAR	A	0.04%
COKE	C	0.03%
HXL	F	0.03%
DLTR	F	0.03%
GMED	A	0.03%
DRH	B	0.03%
PNM	B	0.03%
ACA	A	0.03%
KMPR	A	0.03%
LZB	B	0.03%
KEY	B	0.03%
WPC	C	0.03%
HAE	C	0.03%
UNF	B	0.03%
PINC	B	0.03%
APAM	B	0.03%
FNF	B	0.03%
VC	F	0.03%
MAN	F	0.03%
DK	C	0.03%
JEF	A	0.03%
COLD	D	0.03%
LBRDK	C	0.03%
DRI	B	0.03%
BKE	B	0.03%
FHI	B	0.03%
MRO	B	0.03%
LNC	C	0.03%
RPRX	D	0.03%
BURL	B	0.03%
NTRS	A	0.03%
TER	F	0.03%
DELL	B	0.03%
UDR	B	0.03%
PLXS	B	0.03%
CDW	F	0.03%
WHR	B	0.03%
CG	B	0.03%
PRG	C	0.03%
APLE	B	0.03%
IFF	D	0.03%
ASO	F	0.03%
SHOO	F	0.03%
JBL	C	0.03%
AVB	B	0.03%
AVA	A	0.03%
DBRG	F	0.03%
CMS	C	0.03%
HSIC	C	0.03%
RL	C	0.03%
FE	C	0.03%
GMS	B	0.03%
BKU	A	0.03%
CDP	C	0.03%
RLI	A	0.03%
DDS	B	0.03%
GGG	B	0.03%
DOX	D	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	B	0.03%
ES	C	0.03%
NYT	D	0.03%
BJ	A	0.03%
MORN	B	0.03%
MANH	D	0.03%
ODP	F	0.02%
IOSP	C	0.02%
LXP	D	0.02%
KEX	B	0.02%
LEG	F	0.02%
VSH	F	0.02%
SSNC	B	0.02%
EVRG	A	0.02%
LAUR	A	0.02%
KIM	A	0.02%
SF	B	0.02%
BHE	C	0.02%
BRKR	D	0.02%
GT	C	0.02%
GME	C	0.02%
WBS	A	0.02%
ATO	A	0.02%
BEN	C	0.02%
RF	A	0.02%
CSL	C	0.02%
ANDE	D	0.02%
BXP	C	0.02%
ZION	B	0.02%
APG	B	0.02%
DOW	F	0.02%
SNV	C	0.02%
NSP	F	0.02%
HP	C	0.02%
ODFL	C	0.02%
HST	C	0.02%
DNOW	B	0.02%
PMT	C	0.02%
HNI	B	0.02%
XRAY	F	0.02%
WKC	C	0.02%
HRL	D	0.02%
SNDR	B	0.02%
OSIS	A	0.02%
LNW	F	0.02%
PNR	A	0.02%
MAA	B	0.02%
LNT	A	0.02%
AGCO	D	0.02%
VVV	D	0.02%
THS	D	0.02%
RHI	C	0.02%
SKX	D	0.02%
CC	C	0.02%
DLB	B	0.02%
OHI	C	0.02%
MDU	D	0.02%
OC	A	0.02%
SXT	C	0.02%
YELP	C	0.02%
DORM	B	0.02%
APOG	C	0.02%
GWRE	A	0.02%
SAM	C	0.02%
CTLT	C	0.02%
PSN	D	0.02%
NI	A	0.02%
XHR	B	0.02%
PDCO	F	0.02%
PBF	D	0.02%
MKTX	D	0.02%
CINF	A	0.02%
EWBC	A	0.02%
NTCT	C	0.02%
VSCO	C	0.02%
MCY	A	0.02%
HOG	D	0.02%
CE	F	0.02%
FAF	A	0.02%
HII	F	0.02%
BFAM	D	0.02%
PVH	C	0.02%
RYN	D	0.02%
AKAM	D	0.02%
JBHT	C	0.02%
ORA	B	0.02%
MTG	C	0.02%
GEF	A	0.02%
MSA	F	0.02%
WRB	A	0.02%
NEU	D	0.02%
STC	B	0.02%
SVC	F	0.01%
QRVO	F	0.01%
CPRI	F	0.01%
NOV	C	0.01%
KNX	C	0.01%
RKT	F	0.01%
UHAL	D	0.01%
JELD	F	0.01%
DINO	D	0.01%
SCL	C	0.01%
MLKN	F	0.01%
RVTY	F	0.01%
ARI	C	0.01%
WOR	F	0.01%
ELAN	D	0.01%
CNXN	C	0.01%
GIII	D	0.01%
UGI	C	0.01%
ALEX	B	0.01%
UVV	B	0.01%
JBGS	F	0.01%
HTH	C	0.01%
SEB	F	0.01%
MKSI	C	0.01%
RDN	D	0.01%
XRX	F	0.01%
SR	A	0.01%
ARMK	B	0.01%
PNW	A	0.01%
SHO	D	0.01%
AMED	F	0.01%
CNS	B	0.01%
SSB	B	0.01%
SWX	B	0.01%
KALU	C	0.01%
CENTA	C	0.01%
CVI	F	0.01%
MOS	F	0.01%
ARCH	B	0.01%
PECO	A	0.01%
PB	B	0.01%
CNM	D	0.01%
SAIC	F	0.01%
OMI	F	0.01%
FDP	B	0.01%
PFG	D	0.01%
SIGI	C	0.01%
LEA	F	0.01%
WAFD	B	0.01%
CROX	D	0.01%
BRC	D	0.01%
SPB	C	0.01%
NNN	C	0.01%
CFR	B	0.01%
FELE	B	0.01%
WMK	C	0.01%
MHK	D	0.01%
KN	B	0.01%
STRA	C	0.01%
ESNT	F	0.01%
TPR	B	0.01%
DXC	B	0.01%
IDCC	B	0.01%
INCY	C	0.01%
NNI	D	0.01%
GES	F	0.01%
CWEN	C	0.01%
ONB	C	0.01%
CBSH	B	0.01%
WWD	C	0.01%
TTEK	F	0.01%
CR	A	0.01%
ICUI	D	0.01%
CSGS	B	0.01%
BMRN	F	0.01%
FYBR	C	0.01%
HE	C	0.01%
CADE	B	0.01%
WTFC	A	0.01%
FHN	A	0.01%
PSMT	D	0.01%
ALGN	D	0.01%
ADC	A	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%
FR	D	0.01%
DTM	A	0.01%
DEI	B	0.01%
AMWD	C	0.01%
PTEN	C	0.01%
VNT	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 115 Positions Relative to HYBB

Symbol	Grade	Weight
INGM	F	-0.29%
WFRD	D	-0.25%
GTLS	A	-0.23%
CZR	F	-0.22%
GTN	F	-0.2%
TLN	A	-0.19%
JAZZ	B	-0.19%
VAL	F	-0.17%
SIRI	C	-0.14%
PFGC	B	-0.14%
PCG	A	-0.14%
RBLX	C	-0.13%
AMCX	C	-0.13%
HLF	C	-0.12%
KNTK	A	-0.12%
HRI	C	-0.12%
BYD	B	-0.12%
HGV	C	-0.12%
VRT	B	-0.12%
HTZ	C	-0.12%
W	D	-0.11%
AAL	B	-0.11%
USM	B	-0.1%
ADT	C	-0.1%
CRWD	B	-0.1%
ON	D	-0.1%
VSAT	F	-0.09%
ASGN	F	-0.09%
MOH	F	-0.09%
FTRE	D	-0.09%
AVNT	B	-0.09%
CWK	C	-0.09%
IEP	F	-0.09%
AM	A	-0.09%
ATSG	B	-0.09%
IQV	F	-0.08%
GNL	F	-0.08%
NEP	F	-0.08%
ESTC	C	-0.08%
ACCO	C	-0.08%
SRCL	B	-0.08%
DO	D	-0.08%
ALGT	B	-0.08%
HHH	B	-0.08%
NMRK	C	-0.08%
MTDR	B	-0.08%
SNEX	B	-0.08%
RNG	C	-0.07%
MD	C	-0.07%
KFY	B	-0.07%
MWA	B	-0.07%
ZD	B	-0.07%
FCFS	F	-0.07%
LYV	A	-0.07%
FTAI	A	-0.07%
COTY	F	-0.07%
NCLH	B	-0.07%
DAR	C	-0.07%
ARLP	A	-0.07%
LTH	C	-0.07%
NGVT	B	-0.07%
UA	C	-0.07%
MGM	D	-0.06%
HLX	B	-0.06%
TCBI	C	-0.06%
ST	F	-0.06%
CIEN	C	-0.06%
MTX	B	-0.06%
CIVI	D	-0.06%
PBH	A	-0.06%
RXO	D	-0.06%
TRS	B	-0.06%
HESM	B	-0.06%
CCOI	B	-0.06%
ATKR	D	-0.06%
TWLO	A	-0.06%
VNOM	A	-0.06%
RHP	B	-0.06%
CRL	D	-0.06%
LEVI	F	-0.06%
ET	A	-0.06%
CCS	D	-0.06%
BCO	F	-0.06%
SXC	A	-0.06%
DFH	D	-0.05%
OII	B	-0.05%
ASH	F	-0.05%
AMN	F	-0.05%
PR	B	-0.05%
STWD	C	-0.05%
SYNA	C	-0.05%
IBP	D	-0.05%
VIAV	C	-0.05%
ENTG	D	-0.05%
SUN	B	-0.05%
FOUR	A	-0.05%
BXMT	C	-0.05%
FUL	F	-0.04%
CXT	C	-0.04%
PRGO	C	-0.04%
BECN	B	-0.04%
BSIG	A	-0.04%
FOR	F	-0.04%
ENS	F	-0.04%
LGIH	F	-0.04%
VLY	B	-0.04%
BDN	C	-0.04%
PRAA	D	-0.04%
CENT	C	-0.04%
TNL	A	-0.04%
HI	C	-0.04%
STX	C	-0.04%
HPP	F	-0.04%
CHRD	D	-0.04%
CSTM	F	-0.03%