MFUS vs. IWS ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to iShares Russell Mid-cap Value ETF (IWS)

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

$47.42

Average Daily Volume

5,117

Number of Holdings ^*

785

* may have additional holdings in another (foreign) market

IWS

iShares Russell Mid-cap Value ETF

IWS Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell Midcap Value Index (the "underlying index"), which measures the performance of the mid-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$119.52

Average Daily Volume

278,291

Number of Holdings ^*

710

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	IWS
30 Days	1.48%	-1.98%
60 Days	3.99%	-1.75%
90 Days	1.98%	-2.83%
12 Months	23.15%	11.74%

414 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in IWS	Overlap
A	D	0.05%	0.45%	0.05%
AA	B	0.03%	0.09%	0.03%
AAP	F	0.01%	0.04%	0.01%
ACI	F	0.01%	0.1%	0.01%
ACM	D	0.04%	0.15%	0.04%
ADM	C	0.33%	0.38%	0.33%
AES	D	0.04%	0.16%	0.04%
AFG	D	0.01%	0.11%	0.01%
AFL	B	0.16%	0.63%	0.16%
AGCO	F	0.02%	0.07%	0.02%
AGNC	A	0.04%	0.08%	0.04%
AIZ	D	0.06%	0.11%	0.06%
AJG	A	0.08%	0.65%	0.08%
AKAM	F	0.02%	0.17%	0.02%
ALGN	D	0.02%	0.09%	0.02%
ALL	D	0.31%	0.44%	0.31%
ALLY	B	0.13%	0.12%	0.12%
ALSN	D	0.07%	0.08%	0.07%
AMED	A	0.01%	0.04%	0.01%
AMG	D	0.04%	0.06%	0.04%
AMH	A	0.03%	0.16%	0.03%
AMKR	B	0.04%	0.06%	0.04%
AMP	B	0.08%	0.05%	0.05%
AN	D	0.08%	0.05%	0.05%
ANSS	C	0.06%	0.35%	0.06%
AOS	D	0.11%	0.12%	0.11%
APG	C	0.04%	0.1%	0.04%
AR	D	0.05%	0.12%	0.05%
ARW	D	0.07%	0.08%	0.07%
ATI	C	0.05%	0.09%	0.05%
ATR	D	0.07%	0.12%	0.07%
AVT	D	0.05%	0.06%	0.05%
AVTR	D	0.03%	0.18%	0.03%
AVY	D	0.1%	0.14%	0.1%
AWI	D	0.03%	0.04%	0.03%
AXTA	D	0.02%	0.09%	0.02%
AYI	D	0.07%	0.09%	0.07%
BALL	D	0.07%	0.23%	0.07%
BAX	C	0.03%	0.21%	0.03%
BBWI	F	0.03%	0.1%	0.03%
BBY	C	0.21%	0.22%	0.21%
BC	F	0.06%	0.06%	0.06%
BEN	F	0.05%	0.08%	0.05%
BERY	D	0.05%	0.08%	0.05%
BFAM	C	0.02%	0.07%	0.02%
BHF	F	0.03%	0.04%	0.03%
BIIB	C	0.09%	0.4%	0.09%
BJ	B	0.03%	0.14%	0.03%
BK	B	0.23%	0.56%	0.23%
BKR	C	0.17%	0.42%	0.17%
BLD	D	0.03%	0.14%	0.03%
BLDR	F	0.03%	0.18%	0.03%
BMRN	C	0.02%	0.19%	0.02%
BR	B	0.15%	0.03%	0.03%
BRKR	F	0.03%	0.03%	0.03%
BRO	B	0.12%	0.15%	0.12%
BWA	F	0.05%	0.09%	0.05%
BWXT	B	0.08%	0.09%	0.08%
BXP	C	0.01%	0.12%	0.01%
CACC	B	0.01%	0.01%	0.01%
CACI	B	0.09%	0.12%	0.09%
CAG	D	0.04%	0.16%	0.04%
CAH	D	0.31%	0.12%	0.12%
CASY	B	0.15%	0.14%	0.14%
CBSH	C	0.01%	0.08%	0.01%
CC	F	0.02%	0.04%	0.02%
CCK	F	0.06%	0.1%	0.06%
CCL	C	0.05%	0.21%	0.05%
CDW	D	0.06%	0.18%	0.06%
CE	F	0.08%	0.14%	0.08%
CFG	B	0.06%	0.2%	0.06%
CG	C	0.02%	0.11%	0.02%
CHD	C	0.07%	0.32%	0.07%
CHE	D	0.06%	0.09%	0.06%
CHRD	C	0.03%	0.13%	0.03%
CHRW	C	0.08%	0.12%	0.08%
CHTR	C	0.22%	0.35%	0.22%
CINF	C	0.02%	0.22%	0.02%
CLH	B	0.04%	0.14%	0.04%
CMA	C	0.03%	0.08%	0.03%
CMI	D	0.11%	0.46%	0.11%
CNM	D	0.01%	0.04%	0.01%
COHR	B	0.02%	0.12%	0.02%
COIN	C	0.09%	0.09%	0.09%
COKE	B	0.02%	0.08%	0.02%
COLD	C	0.03%	0.09%	0.03%
CPB	B	0.01%	0.11%	0.01%
CPRI	D	0.01%	0.05%	0.01%
CPT	B	0.05%	0.14%	0.05%
CR	C	0.01%	0.09%	0.01%
CRI	F	0.06%	0.03%	0.03%
CRUS	A	0.05%	0.09%	0.05%
CSL	C	0.02%	0.21%	0.02%
CTLT	B	0.02%	0.13%	0.02%
CTRA	D	0.03%	0.24%	0.03%
CTVA	D	0.03%	0.45%	0.03%
CUBE	B	0.04%	0.12%	0.04%
CW	C	0.08%	0.13%	0.08%
CWEN	D	0.01%	0.02%	0.01%
CWEN	D	0.01%	0.01%	0.01%
DCI	D	0.04%	0.11%	0.04%
DD	C	0.22%	0.41%	0.22%
DDS	D	0.04%	0.02%	0.02%
DFS	B	0.07%	0.41%	0.07%
DG	F	0.09%	0.34%	0.09%
DGX	C	0.06%	0.19%	0.06%
DINO	D	0.04%	0.11%	0.04%
DKS	C	0.1%	0.13%	0.1%
DLB	D	0.04%	0.06%	0.04%
DLR	B	0.08%	0.6%	0.08%
DLTR	F	0.04%	0.27%	0.04%
DOV	D	0.02%	0.3%	0.02%
DOW	D	0.04%	0.46%	0.04%
DOX	D	0.03%	0.11%	0.03%
DPZ	D	0.23%	0.14%	0.14%
DRI	D	0.03%	0.1%	0.03%
DTM	B	0.01%	0.08%	0.01%
DXC	C	0.02%	0.04%	0.02%
EA	B	0.09%	0.46%	0.09%
EBAY	B	0.31%	0.33%	0.31%
EFX	B	0.08%	0.29%	0.08%
EHC	B	0.08%	0.1%	0.08%
ELAN	D	0.01%	0.09%	0.01%
ELS	C	0.03%	0.14%	0.03%
EME	D	0.03%	0.13%	0.03%
EMN	D	0.06%	0.14%	0.06%
ESAB	D	0.01%	0.07%	0.01%
ESI	B	0.01%	0.07%	0.01%
EVR	A	0.1%	0.1%	0.1%
EVRG	D	0.01%	0.14%	0.01%
EWBC	D	0.02%	0.12%	0.02%
EXC	D	0.1%	0.43%	0.1%
EXEL	C	0.02%	0.01%	0.01%
EXP	D	0.05%	0.02%	0.02%
EXPD	B	0.08%	0.18%	0.08%
EXR	B	0.07%	0.4%	0.07%
FAF	D	0.02%	0.07%	0.02%
FANG	B	0.05%	0.45%	0.05%
FAST	D	0.1%	0.07%	0.07%
FCN	D	0.07%	0.09%	0.07%
FCNCA	C	0.05%	0.25%	0.05%
FDS	C	0.05%	0.13%	0.05%
FFIV	C	0.03%	0.12%	0.03%
FHN	C	0.01%	0.1%	0.01%
FICO	A	0.19%	0.07%	0.07%
FIS	B	0.07%	0.53%	0.07%
FITB	D	0.05%	0.31%	0.05%
FLO	D	0.04%	0.05%	0.04%
FLS	D	0.02%	0.08%	0.02%
FND	F	0.03%	0.08%	0.03%
FNF	D	0.02%	0.16%	0.02%
FOXA	B	0.07%	0.1%	0.07%
FR	C	0.02%	0.08%	0.02%
FTI	B	0.11%	0.14%	0.11%
FYBR	B	0.01%	0.08%	0.01%
G	D	0.04%	0.07%	0.04%
GEHC	D	0.02%	0.37%	0.02%
GGG	D	0.04%	0.16%	0.04%
GIS	D	0.1%	0.44%	0.1%
GLPI	B	0.06%	0.14%	0.06%
GLW	B	0.18%	0.36%	0.18%
GMED	B	0.02%	0.1%	0.02%
GNRC	C	0.04%	0.05%	0.04%
GNTX	D	0.07%	0.1%	0.07%
GPC	D	0.02%	0.23%	0.02%
GPK	D	0.09%	0.1%	0.09%
GPS	C	0.09%	0.06%	0.06%
GWRE	A	0.01%	0.08%	0.01%
GWW	C	0.16%	0.06%	0.06%
H	C	0.01%	0.07%	0.01%
HAL	F	0.04%	0.37%	0.04%
HBAN	D	0.02%	0.23%	0.02%
HIG	C	0.05%	0.37%	0.05%
HII	D	0.02%	0.12%	0.02%
HLI	A	0.07%	0.08%	0.07%
HLT	B	0.08%	0.32%	0.08%
HOG	F	0.02%	0.05%	0.02%
HOLX	C	0.03%	0.21%	0.03%
HOOD	B	0.03%	0.19%	0.03%
HPE	C	0.27%	0.33%	0.27%
HPQ	C	0.29%	0.32%	0.29%
HRB	B	0.08%	0.08%	0.08%
HRL	F	0.01%	0.11%	0.01%
HSIC	D	0.03%	0.1%	0.03%
HST	D	0.02%	0.15%	0.02%
HSY	F	0.05%	0.29%	0.05%
HUBB	C	0.08%	0.24%	0.08%
HUN	F	0.01%	0.04%	0.01%
HWM	C	0.11%	0.37%	0.11%
HXL	D	0.04%	0.07%	0.04%
IBKR	B	0.05%	0.16%	0.05%
IEX	D	0.08%	0.18%	0.08%
IFF	B	0.03%	0.3%	0.03%
INCY	D	0.01%	0.12%	0.01%
INGR	D	0.05%	0.09%	0.05%
INVH	A	0.06%	0.27%	0.06%
IP	C	0.12%	0.19%	0.12%
IPG	F	0.07%	0.13%	0.07%
IR	C	0.09%	0.45%	0.09%
IRM	B	0.09%	0.11%	0.09%
ITT	D	0.08%	0.13%	0.08%
IVZ	D	0.05%	0.07%	0.05%
JAZZ	F	0.01%	0.08%	0.01%
JBHT	F	0.02%	0.16%	0.02%
JBL	F	0.07%	0.15%	0.07%
JEF	B	0.03%	0.08%	0.03%
JHG	B	0.03%	0.06%	0.03%
JKHY	C	0.1%	0.15%	0.1%
JLL	B	0.04%	0.08%	0.04%
JNPR	B	0.12%	0.14%	0.12%
JWN	B	0.03%	0.03%	0.03%
K	D	0.07%	0.18%	0.07%
KBR	D	0.02%	0.1%	0.02%
KD	C	0.06%	0.07%	0.06%
KEX	B	0.01%	0.09%	0.01%
KEY	C	0.02%	0.16%	0.02%
KMI	B	0.08%	0.48%	0.08%
KMPR	C	0.02%	0.04%	0.02%
KNX	C	0.01%	0.1%	0.01%
KR	C	0.33%	0.41%	0.33%
KSS	F	0.07%	0.03%	0.03%
L	D	0.08%	0.17%	0.08%
LAD	F	0.01%	0.08%	0.01%
LAMR	B	0.05%	0.1%	0.05%
LBRDK	C	0.02%	0.06%	0.02%
LDOS	B	0.08%	0.24%	0.08%
LEA	F	0.03%	0.08%	0.03%
LECO	F	0.08%	0.09%	0.08%
LEG	F	0.01%	0.02%	0.01%
LEN	D	0.07%	0.02%	0.02%
LEN	D	0.07%	0.43%	0.07%
LHX	B	0.19%	0.52%	0.19%
LNC	C	0.05%	0.06%	0.05%
LOPE	C	0.05%	0.03%	0.03%
LPX	D	0.06%	0.02%	0.02%
LSTR	D	0.09%	0.08%	0.08%
LW	F	0.05%	0.1%	0.05%
LYB	D	0.22%	0.31%	0.22%
LYFT	F	0.01%	0.02%	0.01%
M	C	0.06%	0.06%	0.06%
MAN	D	0.04%	0.04%	0.04%
MAS	D	0.05%	0.18%	0.05%
MASI	F	0.03%	0.03%	0.03%
MDU	C	0.03%	0.06%	0.03%
MHK	D	0.01%	0.07%	0.01%
MKC	C	0.06%	0.22%	0.06%
MKL	D	0.03%	0.19%	0.03%
MKSI	B	0.01%	0.1%	0.01%
MKTX	C	0.02%	0.09%	0.02%
MLM	D	0.06%	0.38%	0.06%
MOH	F	0.03%	0.08%	0.03%
MOS	F	0.05%	0.11%	0.05%
MRO	B	0.11%	0.2%	0.11%
MSA	C	0.04%	0.08%	0.04%
MSCI	C	0.07%	0.2%	0.07%
MSM	F	0.06%	0.04%	0.04%
MTB	C	0.03%	0.31%	0.03%
MTD	D	0.08%	0.35%	0.08%
MTDR	D	0.01%	0.08%	0.01%
MTG	B	0.03%	0.07%	0.03%
MTN	F	0.05%	0.01%	0.01%
NDAQ	C	0.02%	0.27%	0.02%
NDSN	D	0.04%	0.16%	0.04%
NEU	D	0.02%	0.04%	0.02%
NFG	D	0.04%	0.06%	0.04%
NOV	D	0.05%	0.09%	0.05%
NRG	D	0.07%	0.13%	0.07%
NTAP	A	0.09%	0.18%	0.09%
NTRS	C	0.02%	0.21%	0.02%
NUE	F	0.08%	0.46%	0.08%
NVR	D	0.06%	0.27%	0.06%
NVT	D	0.03%	0.16%	0.03%
NWL	F	0.01%	0.03%	0.01%
NWSA	B	0.07%	0.13%	0.07%
NXST	B	0.05%	0.04%	0.04%
NYT	A	0.05%	0.1%	0.05%
OC	D	0.08%	0.18%	0.08%
OGN	C	0.08%	0.06%	0.06%
OKE	B	0.07%	0.6%	0.07%
OKTA	C	0.03%	0.1%	0.03%
OLLI	B	0.01%	0.07%	0.01%
OLN	F	0.04%	0.07%	0.04%
OMC	D	0.05%	0.21%	0.05%
OMF	D	0.04%	0.07%	0.04%
OSK	D	0.07%	0.09%	0.07%
OTIS	B	0.07%	0.48%	0.07%
PAG	D	0.04%	0.03%	0.03%
PARA	C	0.02%	0.08%	0.02%
PAYX	D	0.03%	0.3%	0.03%
PEG	B	0.05%	0.46%	0.05%
PFG	D	0.01%	0.23%	0.01%
PHM	D	0.14%	0.27%	0.14%
PINC	F	0.02%	0.03%	0.02%
PK	D	0.06%	0.04%	0.04%
PKG	C	0.04%	0.2%	0.04%
PNR	D	0.07%	0.15%	0.07%
POST	C	0.05%	0.06%	0.05%
PPG	D	0.04%	0.36%	0.04%
PR	C	0.05%	0.1%	0.05%
PRU	B	0.26%	0.53%	0.26%
PSN	C	0.02%	0.05%	0.02%
PSTG	B	0.05%	0.03%	0.03%
PTC	B	0.05%	0.11%	0.05%
PVH	F	0.05%	0.07%	0.05%
PWR	D	0.14%	0.32%	0.14%
QRVO	B	0.01%	0.14%	0.01%
R	B	0.05%	0.07%	0.05%
RBC	C	0.01%	0.1%	0.01%
RCL	B	0.08%	0.3%	0.08%
RGA	C	0.05%	0.17%	0.05%
RGLD	B	0.04%	0.1%	0.04%
RHI	F	0.02%	0.08%	0.02%
RJF	D	0.01%	0.28%	0.01%
RL	C	0.04%	0.08%	0.04%
RLI	D	0.03%	0.07%	0.03%
RMD	C	0.09%	0.25%	0.09%
ROST	B	0.07%	0.45%	0.07%
RPM	D	0.1%	0.13%	0.1%
RPRX	F	0.03%	0.12%	0.03%
RRC	D	0.05%	0.1%	0.05%
RS	D	0.09%	0.2%	0.09%
RYN	D	0.02%	0.05%	0.02%
SAIA	C	0.04%	0.06%	0.04%
SAIC	D	0.01%	0.07%	0.01%
SAM	C	0.02%	0.03%	0.02%
SBAC	F	0.02%	0.25%	0.02%
SCI	C	0.06%	0.12%	0.06%
SEB	F	0.04%	0.01%	0.01%
SEE	F	0.07%	0.03%	0.03%
SEIC	D	0.07%	0.08%	0.07%
SF	B	0.01%	0.1%	0.01%
SJM	D	0.03%	0.14%	0.03%
SKX	C	0.02%	0.1%	0.02%
SLGN	D	0.04%	0.04%	0.04%
SLM	D	0.06%	0.06%	0.06%
SMG	D	0.04%	0.03%	0.03%
SNDR	B	0.01%	0.01%	0.01%
SNV	B	0.01%	0.07%	0.01%
SON	F	0.04%	0.06%	0.04%
SPB	D	0.01%	0.03%	0.01%
SPG	C	0.13%	0.44%	0.13%
SRCL	B	0.04%	0.07%	0.04%
SSD	F	0.03%	0.08%	0.03%
STE	C	0.11%	0.26%	0.11%
STLD	D	0.05%	0.23%	0.05%
SUI	C	0.05%	0.18%	0.05%
SWN	D	0.01%	0.09%	0.01%
SYF	B	0.29%	0.23%	0.23%
SYY	D	0.07%	0.16%	0.07%
TAP	F	0.08%	0.11%	0.08%
TER	A	0.04%	0.03%	0.03%
TFX	C	0.03%	0.12%	0.03%
THC	C	0.24%	0.16%	0.16%
THG	D	0.03%	0.06%	0.03%
THO	D	0.06%	0.06%	0.06%
TKR	D	0.05%	0.06%	0.05%
TOL	D	0.08%	0.14%	0.08%
TPR	C	0.01%	0.11%	0.01%
TROW	C	0.09%	0.31%	0.09%
TSN	D	0.21%	0.2%	0.2%
TTC	C	0.08%	0.11%	0.08%
TTEK	D	0.01%	0.1%	0.01%
TTWO	C	0.07%	0.32%	0.07%
TW	C	0.05%	0.09%	0.05%
TXT	D	0.03%	0.2%	0.03%
TYL	A	0.07%	0.04%	0.04%
UAL	D	0.01%	0.2%	0.01%
UDR	B	0.03%	0.16%	0.03%
UHAL	D	0.03%	0.04%	0.03%
UHAL	D	0.01%	0.04%	0.01%
UHAL	D	0.01%	0.0%	0.0%
UHAL	D	0.03%	0.0%	0.0%
UHS	C	0.08%	0.13%	0.08%
ULTA	D	0.05%	0.03%	0.03%
UNM	D	0.1%	0.12%	0.1%
URI	D	0.08%	0.41%	0.08%
USFD	C	0.08%	0.15%	0.08%
UTHR	B	0.16%	0.17%	0.16%
VFC	D	0.01%	0.06%	0.01%
VIRT	C	0.04%	0.02%	0.02%
VMC	D	0.07%	0.3%	0.07%
VNO	C	0.04%	0.06%	0.04%
VNT	D	0.03%	0.07%	0.03%
VRSN	C	0.04%	0.18%	0.04%
VTRS	D	0.13%	0.15%	0.13%
WAB	D	0.04%	0.34%	0.04%
WAL	B	0.01%	0.08%	0.01%
WAT	D	0.04%	0.08%	0.04%
WBA	F	0.25%	0.1%	0.1%
WBS	D	0.01%	0.09%	0.01%
WCC	D	0.08%	0.09%	0.08%
WDC	B	0.18%	0.31%	0.18%
WEN	F	0.05%	0.02%	0.02%
WH	C	0.03%	0.06%	0.03%
WHR	C	0.04%	0.07%	0.04%
WMB	B	0.08%	0.64%	0.08%
WMS	D	0.02%	0.08%	0.02%
WOLF	F	0.01%	0.04%	0.01%
WPC	D	0.05%	0.15%	0.05%
WRB	C	0.02%	0.2%	0.02%
WRK	C	0.13%	0.16%	0.13%
WSM	D	0.25%	0.09%	0.09%
WSO	B	0.21%	0.2%	0.2%
WST	F	0.05%	0.11%	0.05%
WTFC	D	0.01%	0.08%	0.01%
WTM	D	0.04%	0.05%	0.04%
WTW	B	0.04%	0.33%	0.04%
WU	D	0.08%	0.04%	0.04%
WWD	D	0.01%	0.13%	0.01%
X	C	0.07%	0.11%	0.07%
XRAY	F	0.04%	0.06%	0.04%
XYL	D	0.12%	0.39%	0.12%
YUM	D	0.1%	0.28%	0.1%
ZION	C	0.02%	0.08%	0.02%

MFUS Overweight 375 Positions Relative to IWS

Symbol	Grade	Weight
LLY	A	2.52%
META	A	2.09%
NVDA	B	1.9%
BRK.A	C	1.83%
WMT	A	1.65%
WFC	C	1.5%
GOOGL	A	1.47%
AVGO	B	1.46%
AMZN	A	1.39%
C	B	1.31%
COST	A	1.18%
ABBV	C	1.17%
IBM	B	1.12%
T	B	1.08%
GE	D	1.07%
XOM	D	1.04%
ORCL	A	1.02%
MRK	C	1.01%
AMGN	B	0.99%
VZ	B	0.96%
JNJ	F	0.91%
CVX	D	0.9%
JPM	B	0.88%
CVS	D	0.87%
V	C	0.84%
PG	C	0.84%
QCOM	B	0.77%
MA	C	0.74%
MPC	D	0.7%
TGT	D	0.68%
GILD	C	0.67%
AAPL	A	0.66%
VLO	D	0.62%
PSX	D	0.61%
MCK	B	0.61%
AMAT	B	0.59%
PEP	D	0.59%
INTC	C	0.59%
GM	B	0.58%
KO	A	0.54%
PFE	C	0.5%
BKNG	B	0.5%
MO	A	0.46%
PM	B	0.46%
GS	A	0.45%
NFLX	A	0.45%
AIG	D	0.44%
UNP	D	0.43%
REGN	B	0.43%
LMT	C	0.43%
PGR	B	0.42%
COF	D	0.42%
CSCO	D	0.41%
CAT	D	0.41%
LRCX	B	0.4%
F	B	0.39%
BAC	B	0.39%
HD	C	0.37%
ANF	C	0.36%
MCD	F	0.36%
CRM	C	0.35%
MET	D	0.35%
COP	D	0.34%
MMM	B	0.33%
NOW	A	0.33%
TJX	A	0.32%
CL	B	0.31%
SMCI	B	0.3%
TMUS	B	0.29%
VST	C	0.29%
TRV	D	0.28%
AZO	C	0.28%
INTU	A	0.27%
CMG	D	0.27%
KLAC	B	0.27%
ICE	A	0.25%
DHR	D	0.25%
CMCSA	F	0.24%
PANW	B	0.24%
WM	B	0.24%
MU	C	0.24%
BMY	F	0.24%
VRTX	B	0.22%
LII	B	0.22%
UBER	B	0.22%
BX	C	0.21%
LOW	D	0.21%
CPRT	C	0.21%
UPS	D	0.2%
ETN	C	0.2%
TXN	B	0.2%
VRSK	A	0.2%
DECK	C	0.19%
NOC	D	0.19%
SCHW	D	0.19%
MDLZ	D	0.19%
MMC	B	0.18%
BSX	B	0.18%
AXP	C	0.18%
CME	D	0.18%
SHW	D	0.17%
DVA	C	0.17%
ACN	D	0.17%
GD	D	0.17%
ORLY	C	0.17%
MUSA	C	0.16%
KMB	B	0.16%
SFM	B	0.16%
EMR	C	0.16%
AON	C	0.16%
BAH	C	0.15%
KHC	D	0.15%
CTAS	A	0.15%
TDG	D	0.15%
CI	D	0.14%
IT	B	0.14%
CB	C	0.14%
ANET	A	0.13%
MSI	B	0.13%
PH	D	0.12%
APO	B	0.12%
TRGP	A	0.12%
DUK	C	0.12%
HCA	C	0.12%
RSG	A	0.12%
MAR	C	0.12%
CLX	D	0.12%
CEG	B	0.11%
CARR	C	0.11%
EOG	D	0.11%
FCX	C	0.11%
APH	B	0.11%
KKR	C	0.11%
WELL	A	0.1%
USB	D	0.1%
SLB	D	0.1%
PCAR	D	0.09%
BDX	F	0.09%
PBF	F	0.09%
GDDY	A	0.09%
ARES	C	0.09%
LPLA	B	0.09%
AEO	F	0.09%
ADP	D	0.08%
NEM	A	0.08%
ECL	B	0.08%
TFC	B	0.08%
ITW	D	0.08%
DASH	C	0.08%
MPWR	B	0.08%
JXN	C	0.08%
ADSK	B	0.08%
ELV	C	0.08%
CRS	B	0.08%
CSX	D	0.08%
PNC	C	0.08%
DELL	C	0.07%
TSCO	D	0.07%
URBN	C	0.07%
MTH	D	0.07%
ABG	D	0.07%
HCC	C	0.07%
EQH	B	0.07%
TMHC	D	0.07%
GPI	D	0.07%
CMC	D	0.07%
MMS	B	0.06%
MNST	D	0.06%
MUR	D	0.06%
BCC	F	0.06%
IDXX	D	0.06%
SLG	B	0.06%
CNX	C	0.06%
FLEX	D	0.06%
CALM	B	0.06%
WIRE	A	0.06%
PINS	B	0.06%
POOL	F	0.06%
KDP	D	0.06%
NSIT	C	0.06%
ERIE	C	0.06%
UFPI	D	0.06%
ROP	B	0.06%
TEX	D	0.06%
LANC	B	0.05%
STZ	B	0.05%
ROL	A	0.05%
CPAY	D	0.05%
GT	F	0.05%
ENTG	B	0.05%
TPH	D	0.05%
SBUX	F	0.05%
SIG	D	0.05%
SKYW	B	0.05%
FIX	D	0.05%
NKE	F	0.05%
KTB	D	0.05%
SANM	C	0.05%
TXRH	B	0.05%
MLI	C	0.05%
FL	D	0.05%
SPGI	B	0.05%
TPX	D	0.05%
FHI	C	0.04%
DK	F	0.04%
GEO	B	0.04%
KBH	D	0.04%
GNW	D	0.04%
HUBG	C	0.04%
TGNA	D	0.04%
SM	D	0.04%
MOG.A	C	0.04%
PDCO	F	0.04%
APLE	D	0.04%
GATX	B	0.04%
AROC	B	0.04%
ZTS	C	0.04%
ADBE	B	0.04%
ABM	B	0.04%
BDC	C	0.04%
CRBG	C	0.04%
VSH	D	0.04%
COOP	D	0.04%
VC	D	0.04%
MHO	D	0.04%
MAC	D	0.04%
ATGE	A	0.04%
CBT	D	0.04%
BTU	C	0.04%
NBIX	C	0.04%
FTNT	C	0.04%
SHO	C	0.03%
BURL	B	0.03%
MATX	B	0.03%
EQIX	C	0.03%
NAVI	F	0.03%
RUSHA	F	0.03%
ETRN	D	0.03%
MCO	A	0.03%
CVLT	B	0.03%
AVA	D	0.03%
PSA	B	0.03%
SBH	D	0.03%
TDC	C	0.03%
TDS	B	0.03%
ADNT	F	0.03%
WTS	D	0.03%
MORN	B	0.03%
PRIM	D	0.03%
SHOO	C	0.03%
MANH	B	0.03%
VVV	B	0.03%
SLVM	D	0.03%
TRN	D	0.03%
GBX	D	0.03%
APP	B	0.03%
CNO	B	0.03%
YELP	F	0.03%
ASO	F	0.03%
OI	F	0.03%
CPNG	C	0.03%
SEM	A	0.03%
DBRG	F	0.03%
ACA	D	0.03%
GVA	B	0.03%
GMS	D	0.03%
HEI	B	0.03%
SNAP	B	0.03%
XPO	C	0.03%
HP	D	0.03%
IOSP	D	0.02%
APOG	D	0.02%
LUMN	F	0.02%
MCY	C	0.02%
HELE	F	0.02%
DNOW	D	0.02%
IGT	F	0.02%
OSIS	C	0.02%
CHDN	B	0.02%
DAN	F	0.02%
PTEN	F	0.02%
NTCT	D	0.02%
NYCB	D	0.02%
ANDE	D	0.02%
PFSI	B	0.02%
AIT	C	0.02%
GES	D	0.02%
GHC	D	0.02%
PLXS	D	0.02%
PMT	C	0.02%
VSTO	B	0.02%
SXT	C	0.02%
XHR	D	0.02%
PNM	D	0.02%
STC	D	0.02%
CXW	D	0.02%
BKE	D	0.02%
NSP	F	0.02%
LNW	B	0.02%
GEF	F	0.02%
PRG	D	0.02%
REZI	D	0.02%
BKU	C	0.02%
LZB	C	0.02%
ORA	C	0.02%
THS	C	0.02%
RLJ	F	0.02%
XRX	F	0.02%
EPC	B	0.02%
WERN	F	0.02%
APAM	D	0.02%
DRH	D	0.02%
ODP	F	0.02%
MC	A	0.02%
UNF	B	0.02%
HAE	C	0.02%
AIR	B	0.02%
SITC	B	0.02%
HBI	C	0.02%
ECPG	D	0.01%
SCHL	D	0.01%
WAFD	C	0.01%
SCL	D	0.01%
UVV	D	0.01%
WGO	F	0.01%
JBGS	B	0.01%
MLKN	D	0.01%
JELD	F	0.01%
PECO	C	0.01%
HPP	D	0.01%
ARCH	C	0.01%
SWX	D	0.01%
SCCO	C	0.01%
BRC	B	0.01%
WMK	D	0.01%
CADE	D	0.01%
DY	B	0.01%
ONB	B	0.01%
SIGI	F	0.01%
CSGS	F	0.01%
DEI	D	0.01%
FLR	B	0.01%
BECN	D	0.01%
CENTA	D	0.01%
WOR	F	0.01%
FELE	D	0.01%
KALU	D	0.01%
ARCB	D	0.01%
KN	D	0.01%
AMWD	F	0.01%
LVS	F	0.01%
NNI	C	0.01%
SYNA	F	0.01%
SATS	B	0.01%
LAUR	C	0.01%
ESNT	C	0.01%
LADR	A	0.01%
PHIN	D	0.01%
TTMI	B	0.01%
PSMT	D	0.01%
SAH	D	0.01%
OMI	F	0.01%
CBRL	F	0.01%
BHE	D	0.01%
GOLF	C	0.01%
STRA	C	0.01%
ODFL	C	0.01%
SCS	C	0.01%
DORM	C	0.01%
TNET	F	0.01%
TREX	F	0.01%
HNI	C	0.01%
LXP	B	0.01%
CVI	F	0.01%
NOMD	D	0.0%

MFUS Underweight 298 Positions Relative to IWS

Symbol	Grade	Weight
MCHP	C	-0.61%
O	C	-0.56%
HUM	C	-0.54%
CCI	D	-0.52%
DHI	D	-0.5%
AME	D	-0.47%
PCG	D	-0.45%
CNC	D	-0.44%
FERG	D	-0.44%
KVUE	F	-0.43%
ACGL	C	-0.43%
CTSH	C	-0.42%
IQV	D	-0.41%
DAL	D	-0.38%
ED	D	-0.38%
ON	C	-0.38%
CSGP	F	-0.37%
DVN	D	-0.37%
VICI	D	-0.36%
XEL	D	-0.36%
AVB	B	-0.35%
EIX	C	-0.34%
ROK	D	-0.34%
CBRE	C	-0.33%
GRMN	C	-0.31%
AWK	B	-0.31%
FTV	D	-0.31%
EQR	B	-0.31%
WEC	D	-0.3%
GPN	D	-0.3%
FSLR	C	-0.3%
KEYS	D	-0.29%
STT	C	-0.28%
DTE	D	-0.28%
ETR	D	-0.28%
ZBH	D	-0.27%
FE	C	-0.27%
VTR	A	-0.26%
ES	C	-0.25%
PPL	D	-0.25%
ARE	C	-0.25%
SQ	C	-0.25%
CNP	B	-0.24%
LNG	B	-0.24%
WY	F	-0.24%
RF	B	-0.23%
AEE	D	-0.23%
APTV	F	-0.23%
MSTR	D	-0.23%
WBD	F	-0.22%
TDY	D	-0.22%
COO	D	-0.21%
ILMN	D	-0.21%
SWKS	C	-0.21%
LUV	D	-0.21%
LH	C	-0.21%
J	D	-0.21%
ESS	B	-0.21%
ATO	D	-0.21%
CMS	D	-0.21%
MAA	C	-0.2%
EQT	D	-0.2%
BG	B	-0.19%
ZM	F	-0.18%
HES	D	-0.18%
TRMB	C	-0.17%
SSNC	B	-0.17%
TRU	C	-0.17%
DOC	B	-0.17%
GEN	B	-0.17%
AMCR	D	-0.17%
RBA	B	-0.17%
ZBRA	C	-0.16%
RVTY	D	-0.16%
KIM	B	-0.16%
OVV	D	-0.16%
NI	B	-0.16%
VLTO	D	-0.16%
LNT	B	-0.16%
CF	F	-0.16%
EG	D	-0.16%
SNA	F	-0.16%
RIVN	C	-0.15%
SWK	D	-0.15%
RNR	D	-0.14%
LKQ	F	-0.14%
TECH	D	-0.14%
REG	B	-0.14%
ALB	F	-0.14%
NTNX	C	-0.13%
CRL	F	-0.13%
MGM	B	-0.13%
APA	F	-0.13%
KMX	C	-0.13%
CHK	D	-0.13%
NLY	C	-0.12%
EPAM	F	-0.12%
REXR	C	-0.12%
ALLE	D	-0.12%
SNX	D	-0.11%
ARMK	C	-0.11%
CNH	F	-0.11%
CVNA	B	-0.11%
QGEN	D	-0.11%
RRX	F	-0.11%
FWONK	B	-0.11%
WTRG	C	-0.11%
NNN	B	-0.1%
BRBR	B	-0.1%
GL	D	-0.1%
ORI	D	-0.1%
MTCH	F	-0.1%
TWLO	D	-0.1%
FBIN	F	-0.1%
CZR	C	-0.1%
EGP	B	-0.1%
WYNN	D	-0.1%
PRI	C	-0.1%
FRT	C	-0.1%
ONTO	B	-0.1%
OHI	B	-0.1%
PFGC	D	-0.1%
PNW	C	-0.1%
FMC	F	-0.09%
BRX	B	-0.09%
SOLV	F	-0.09%
OGE	C	-0.09%
CROX	C	-0.09%
Z	C	-0.09%
VOYA	D	-0.09%
CGNX	B	-0.09%
TKO	B	-0.09%
ADC	B	-0.08%
XP	F	-0.08%
LFUS	C	-0.08%
MTSI	A	-0.08%
HR	B	-0.08%
MTZ	C	-0.08%
MIDD	F	-0.08%
GME	C	-0.08%
STAG	B	-0.08%
AFRM	F	-0.08%
WEX	D	-0.08%
ROKU	C	-0.08%
DAY	F	-0.08%
CIEN	F	-0.08%
AAL	F	-0.08%
RITM	D	-0.07%
AZPN	D	-0.07%
PB	D	-0.07%
AXS	C	-0.07%
STWD	D	-0.07%
MAT	F	-0.07%
SOFI	F	-0.07%
ST	C	-0.07%
BPOP	D	-0.07%
CFR	D	-0.07%
RGEN	F	-0.07%
GXO	F	-0.07%
DAR	F	-0.07%
CART	C	-0.07%
PNFP	D	-0.07%
ACHC	F	-0.07%
ASH	D	-0.06%
IDA	D	-0.06%
CCCS	D	-0.06%
UGI	D	-0.06%
W	D	-0.06%
EXAS	D	-0.06%
WSC	F	-0.06%
FNB	C	-0.06%
WLK	D	-0.06%
ALK	F	-0.06%
CLF	D	-0.06%
GFS	C	-0.06%
AL	C	-0.06%
OLED	A	-0.06%
CIVI	D	-0.06%
BIO	D	-0.06%
VMI	C	-0.06%
ROIV	D	-0.05%
BYD	C	-0.05%
ZI	F	-0.05%
KRC	F	-0.05%
COTY	F	-0.05%
BEPC	D	-0.05%
S	C	-0.05%
DBX	D	-0.05%
PII	F	-0.05%
SN	C	-0.05%
COLB	D	-0.05%
BILL	F	-0.05%
FRPT	A	-0.05%
AGO	D	-0.05%
FOX	B	-0.05%
OZK	D	-0.05%
EEFT	D	-0.05%
CXT	D	-0.04%
VAC	F	-0.04%
IRDM	D	-0.04%
RH	D	-0.04%
DOCS	B	-0.04%
LBTYA	B	-0.04%
PLNT	B	-0.04%
NSA	B	-0.04%
TNL	D	-0.04%
LBTYK	C	-0.04%
CNXC	C	-0.04%
EPR	C	-0.04%
AM	B	-0.04%
GTES	D	-0.04%
MSGS	B	-0.04%
SITE	F	-0.04%
LSXMK	C	-0.04%
NWS	B	-0.04%
SPR	B	-0.04%
CUZ	D	-0.04%
IAC	F	-0.04%
PRGO	F	-0.04%
ALNY	A	-0.04%
LITE	B	-0.04%
GO	D	-0.03%
BOKF	D	-0.03%
ZG	C	-0.03%
SIRI	C	-0.03%
ADT	B	-0.03%
YETI	F	-0.03%
BIRK	B	-0.03%
ALGM	C	-0.03%
BROS	B	-0.03%
CLVT	F	-0.03%
IPGP	D	-0.03%
ETSY	F	-0.03%
MPW	F	-0.03%
ENOV	F	-0.03%
AGR	C	-0.03%
VNOM	B	-0.03%
COLM	D	-0.03%
U	F	-0.03%
LCID	D	-0.03%
FHB	C	-0.03%
TPG	D	-0.03%
PAYC	F	-0.03%
DNB	F	-0.03%
PENN	C	-0.03%
NVST	F	-0.03%
HIW	C	-0.03%
AZTA	D	-0.03%
ALAB	D	-0.02%
DV	D	-0.02%
UA	F	-0.02%
SHC	C	-0.02%
REYN	D	-0.02%
VSTS	F	-0.02%
PPC	B	-0.02%
AS	F	-0.02%
LSXMA	C	-0.02%
CERT	D	-0.02%
QDEL	F	-0.02%
HAYW	F	-0.02%
RCM	F	-0.02%
QS	F	-0.02%
TRIP	F	-0.02%
LLYVK	C	-0.02%
AZEK	D	-0.02%
MP	D	-0.02%
GLOB	C	-0.02%
FTRE	D	-0.02%
RKT	C	-0.02%
HHH	D	-0.02%
INFA	B	-0.02%
IONS	B	-0.01%
CHH	B	-0.01%
PLTK	F	-0.01%
TXG	F	-0.01%
TFSL	D	-0.01%
NFE	F	-0.01%
LBRDA	C	-0.01%
DJT	F	-0.01%
HCP	A	-0.01%
PATH	D	-0.01%
LLYVA	C	-0.01%
PYCR	D	-0.01%
NCNO	B	-0.01%
HAS	D	-0.01%
FWONA	C	-0.01%
LSCC	D	-0.01%
CAR	F	-0.01%
FIVE	F	-0.01%
CNA	B	-0.01%
UAA	F	-0.01%
RNAC	F	-0.0%
LOAR	D	-0.0%
UWMC	D	-0.0%
PARAA	C	-0.0%
UI	B	-0.0%
LAZ	C	-0.0%
GRAL	D	-0.0%