MFUS vs. NXTI ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Simplify Next Intangible Core Index ETF (NXTI)

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

NXTI

Simplify Next Intangible Core Index ETF

NXTI Description

NXTI targets US companies with relatively high intangible capital-to-book assets ratios within their respective sectors. The fund defines intangible capital as productive assets that lack physical presence and are created through investments in brand, knowledge, and organization capital. The index construction starts by calculating a ratio of intangible capital-to-book assets for each security in an initial universe consisting of the largest 2000 US companies by market-cap. The 200 stocks with the highest intangible capital-to-book assets ratio are selected for inclusion. At least five stocks are included from each of the 13 sectors determined by the index provider using a combination of SIC and NAICS codes along with data from publicly available 10-K filings. Constituents are weighted by market capitalization, with individual security weights capped at 5%. The index reconstitutes quarterly.

Grade (RS Rating)

Last Trade

$30.42

Average Daily Volume

460

Number of Holdings ^*

197

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	NXTI
30 Days	2.73%	5.73%
60 Days	3.41%	7.47%
90 Days	5.38%	10.93%
12 Months	32.49%

128 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in NXTI	Overlap
A	D	0.05%	0.26%	0.05%
ACI	C	0.01%	0.1%	0.01%
ADBE	C	0.04%	2.94%	0.04%
ADSK	A	0.09%	0.72%	0.09%
AFL	B	0.21%	0.24%	0.21%
AIG	B	0.34%	0.2%	0.2%
AJG	B	0.16%	0.25%	0.16%
ALGN	D	0.01%	0.47%	0.01%
ALL	A	0.26%	0.19%	0.19%
ALNY	D	0.06%	1.07%	0.06%
AMAT	F	0.55%	0.74%	0.55%
AMED	F	0.01%	0.1%	0.01%
AMP	A	0.18%	0.22%	0.18%
APP	B	0.11%	0.54%	0.11%
AVY	D	0.09%	0.12%	0.09%
AXP	A	0.23%	0.77%	0.23%
BAH	F	0.15%	0.15%	0.15%
BBY	D	0.21%	0.18%	0.18%
BKNG	A	0.42%	0.88%	0.42%
BKR	B	0.08%	0.25%	0.08%
BRK.A	B	2.42%	4.18%	2.42%
BRO	B	0.12%	0.12%	0.12%
BURL	A	0.03%	0.14%	0.03%
BX	A	0.13%	0.77%	0.13%
CACI	D	0.09%	0.16%	0.09%
CBRE	B	0.05%	0.15%	0.05%
CDW	F	0.03%	0.3%	0.03%
CI	F	0.13%	0.36%	0.13%
CL	D	0.35%	0.55%	0.35%
CLX	B	0.12%	0.13%	0.12%
CMI	A	0.14%	0.3%	0.14%
CNC	D	0.04%	0.13%	0.04%
CSCO	B	0.68%	2.73%	0.68%
CTAS	B	0.19%	0.55%	0.19%
CVS	D	0.65%	0.29%	0.29%
D	C	0.07%	0.46%	0.07%
DASH	A	0.11%	0.42%	0.11%
DD	D	0.1%	0.18%	0.1%
DECK	A	0.17%	0.14%	0.14%
DELL	C	0.03%	1.03%	0.03%
DLB	B	0.02%	0.04%	0.02%
DOV	A	0.04%	0.12%	0.04%
EA	A	0.18%	0.5%	0.18%
EBAY	D	0.36%	0.33%	0.33%
ECL	D	0.08%	0.35%	0.08%
ED	D	0.05%	0.32%	0.05%
ELV	F	0.16%	0.36%	0.16%
EXEL	B	0.05%	0.29%	0.05%
EXPD	D	0.11%	0.12%	0.11%
FAST	B	0.13%	0.18%	0.13%
FFIV	B	0.06%	0.17%	0.06%
FICO	B	0.25%	0.57%	0.25%
FTNT	C	0.07%	0.77%	0.07%
GDDY	A	0.12%	0.31%	0.12%
GIS	D	0.17%	0.16%	0.16%
GWRE	A	0.02%	0.16%	0.02%
GWW	B	0.21%	0.31%	0.21%
HD	A	0.62%	1.6%	0.62%
HIG	B	0.06%	0.13%	0.06%
HPQ	B	0.28%	0.45%	0.28%
HSIC	B	0.03%	0.3%	0.03%
HSY	F	0.05%	0.15%	0.05%
IBM	C	1.05%	2.28%	1.05%
IDXX	F	0.05%	1.04%	0.05%
INCY	C	0.01%	0.46%	0.01%
IT	C	0.15%	0.24%	0.15%
ITW	B	0.1%	0.49%	0.1%
JNPR	F	0.13%	0.16%	0.13%
K	A	0.15%	0.12%	0.12%
KMB	D	0.16%	0.31%	0.16%
KO	D	1.0%	1.23%	1.0%
KR	B	0.38%	0.37%	0.37%
LII	A	0.21%	0.11%	0.11%
LNW	D	0.02%	0.04%	0.02%
LOW	D	0.35%	0.59%	0.35%
LRCX	F	0.17%	0.53%	0.17%
MA	C	0.28%	3.02%	0.28%
MANH	D	0.03%	0.19%	0.03%
META	D	2.35%	5.28%	2.35%
MMC	B	0.2%	0.43%	0.2%
MMM	D	0.6%	0.47%	0.47%
MNST	C	0.07%	0.22%	0.07%
MPC	D	0.34%	0.33%	0.33%
MSI	B	0.2%	0.91%	0.2%
MTD	D	0.08%	0.18%	0.08%
NBIX	C	0.04%	0.4%	0.04%
NI	A	0.02%	0.14%	0.02%
NKE	D	0.06%	0.82%	0.06%
NOW	A	0.36%	2.29%	0.36%
NRG	B	0.07%	0.17%	0.07%
NTAP	C	0.1%	0.29%	0.1%
NYT	C	0.03%	0.11%	0.03%
ORLY	B	0.2%	0.49%	0.2%
OTIS	C	0.07%	0.16%	0.07%
PANW	C	0.25%	1.5%	0.25%
PAYX	C	0.04%	0.32%	0.04%
PEP	F	0.74%	1.02%	0.74%
PGR	A	0.59%	0.56%	0.56%
PH	A	0.14%	0.39%	0.14%
PLTR	B	0.23%	0.99%	0.23%
PM	B	0.87%	0.9%	0.87%
PPG	F	0.04%	0.12%	0.04%
PRU	A	0.23%	0.18%	0.18%
PSTG	D	0.04%	0.19%	0.04%
RL	B	0.03%	0.11%	0.03%
ROL	B	0.07%	0.15%	0.07%
RS	B	0.04%	0.09%	0.04%
SHW	A	0.22%	0.36%	0.22%
SYY	B	0.12%	0.16%	0.12%
TER	D	0.03%	0.12%	0.03%
TGT	F	0.74%	0.67%	0.67%
TRGP	B	0.11%	0.34%	0.11%
TRV	B	0.2%	0.22%	0.2%
TSCO	D	0.11%	0.11%	0.11%
TW	A	0.06%	0.11%	0.06%
UBER	D	0.21%	1.04%	0.21%
ULTA	F	0.04%	0.16%	0.04%
UNH	C	0.79%	2.16%	0.79%
UPS	C	0.24%	0.79%	0.24%
VLTO	D	0.04%	0.23%	0.04%
VST	B	0.23%	0.32%	0.23%
WAT	B	0.05%	0.14%	0.05%
WMB	A	0.1%	0.59%	0.1%
WMT	A	1.71%	5.09%	1.71%
WSM	B	0.18%	0.14%	0.14%
XOM	B	0.43%	3.43%	0.43%
XYL	D	0.1%	0.14%	0.1%
ZBRA	B	0.04%	0.23%	0.04%

MFUS Overweight 687 Positions Relative to NXTI

Symbol	Grade	Weight
LLY	F	2.39%
NVDA	C	1.9%
AMZN	C	1.71%
AVGO	D	1.59%
ORCL	B	1.52%
ABBV	D	1.36%
COST	B	1.35%
JNJ	D	1.18%
PG	A	1.01%
VZ	C	1.0%
JPM	A	0.99%
WFC	A	0.97%
AAPL	C	0.96%
AMGN	D	0.94%
GILD	C	0.87%
MRK	F	0.84%
QCOM	F	0.77%
LMT	D	0.75%
MO	A	0.73%
T	A	0.73%
C	A	0.69%
MCK	B	0.63%
PFE	D	0.57%
GE	D	0.56%
MCD	D	0.53%
NFLX	A	0.52%
UNP	C	0.51%
BAC	A	0.45%
TMUS	B	0.43%
GS	A	0.41%
BMY	B	0.41%
GM	B	0.4%
CVX	A	0.39%
TJX	A	0.37%
REGN	F	0.36%
NOC	D	0.35%
MET	A	0.32%
V	A	0.31%
SYF	B	0.31%
CHTR	C	0.3%
ISRG	A	0.29%
ICE	C	0.29%
TXN	C	0.29%
COF	B	0.29%
SPGI	C	0.29%
THC	D	0.28%
WM	A	0.28%
TMO	F	0.28%
AZO	C	0.28%
CAH	B	0.27%
LHX	C	0.26%
ACN	C	0.25%
HCA	F	0.25%
SFM	A	0.25%
ANF	C	0.25%
DHR	F	0.24%
GD	F	0.24%
AON	A	0.24%
KLAC	D	0.23%
MDLZ	F	0.23%
PSX	C	0.23%
RTX	C	0.22%
NEE	D	0.22%
ADM	D	0.22%
MS	A	0.22%
VRTX	F	0.22%
GLW	B	0.2%
INTC	D	0.2%
BSX	B	0.2%
CAT	B	0.2%
CMG	B	0.2%
FI	A	0.19%
BLK	C	0.19%
UTHR	C	0.19%
TSN	B	0.18%
BK	A	0.18%
HWM	A	0.17%
COR	B	0.17%
BR	A	0.17%
WSO	A	0.17%
NEM	D	0.16%
MU	D	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%
SPG	B	0.16%
CMCSA	B	0.16%
CASY	A	0.16%
VRSK	A	0.16%
TDG	D	0.15%
MCO	B	0.15%
KHC	F	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%
SO	D	0.13%
DPZ	C	0.13%
EVR	B	0.13%
DUK	C	0.13%
RSG	A	0.13%
RPM	A	0.13%
AMT	D	0.13%
YUM	B	0.13%
IRM	D	0.12%
WELL	A	0.12%
WBA	F	0.12%
PNC	B	0.12%
PWR	A	0.12%
PYPL	B	0.12%
APH	A	0.12%
CW	B	0.11%
GEN	B	0.11%
CEG	D	0.11%
KMI	A	0.11%
USB	A	0.11%
CRS	A	0.11%
WTW	B	0.11%
HPE	B	0.11%
ALSN	B	0.11%
EFX	F	0.11%
EXR	D	0.11%
BWXT	B	0.11%
CSX	B	0.11%
LDOS	C	0.11%
ADP	B	0.11%
FOXA	B	0.11%
BDX	F	0.11%
PHM	D	0.1%
OKE	A	0.1%
COIN	C	0.1%
HLT	A	0.1%
AYI	B	0.1%
PKG	A	0.1%
JXN	C	0.1%
JKHY	D	0.1%
RCL	A	0.1%
DFS	B	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%
EMR	A	0.09%
IEX	B	0.09%
DG	F	0.09%
ARES	A	0.09%
WCC	B	0.09%
CALM	A	0.09%
LSTR	D	0.09%
IR	B	0.09%
DLR	B	0.09%
TROW	B	0.09%
IP	B	0.09%
EHC	B	0.09%
TMHC	B	0.09%
NVR	D	0.09%
URI	B	0.09%
GPI	A	0.09%
PSA	D	0.09%
SBUX	A	0.09%
HRB	D	0.08%
AEP	D	0.08%
LPX	B	0.08%
WDC	D	0.08%
DKS	C	0.08%
AOS	F	0.08%
SLG	B	0.08%
SRE	A	0.08%
NUE	C	0.08%
GPK	C	0.08%
ABG	B	0.08%
ATR	B	0.08%
TYL	B	0.08%
HLI	B	0.08%
ITT	A	0.08%
EQH	B	0.08%
BIIB	F	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%
EXP	A	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%
MLM	B	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%
R	B	0.07%
BALL	D	0.07%
KDP	D	0.07%
AEO	F	0.07%
STE	F	0.07%
TTWO	A	0.07%
FIS	C	0.07%
HCC	B	0.07%
STZ	D	0.06%
G	B	0.06%
VIRT	B	0.06%
BC	C	0.06%
GAP	C	0.06%
SEE	C	0.06%
ATGE	B	0.06%
TPH	D	0.06%
BFH	B	0.06%
LECO	B	0.06%
JLL	D	0.06%
GNRC	B	0.06%
CPT	B	0.06%
BERY	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%
FIX	A	0.06%
IBKR	A	0.06%
LUMN	C	0.06%
MAS	D	0.06%
WU	D	0.06%
SQ	B	0.06%
L	A	0.06%
PK	B	0.06%
TXRH	C	0.06%
DHI	D	0.06%
TTC	D	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%
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%
WST	C	0.05%
GNTX	C	0.05%
NDAQ	A	0.05%
MTN	C	0.05%
CARR	D	0.05%
CRI	D	0.05%
USFD	A	0.05%
SLGN	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%
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%
FCN	D	0.05%
WAB	B	0.05%
MMS	F	0.05%
SMCI	F	0.05%
BTU	B	0.05%
O	D	0.05%
MKC	D	0.05%
SON	D	0.04%
AVT	C	0.04%
OSK	B	0.04%
XPO	B	0.04%
LANC	C	0.04%
TKR	D	0.04%
EQR	B	0.04%
PPL	B	0.04%
AWI	A	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%
AGNC	D	0.04%
BDC	B	0.04%
SLVM	B	0.04%
CLH	B	0.04%
FLO	D	0.04%
WH	B	0.04%
ELS	C	0.04%
FL	F	0.04%
MTB	A	0.04%
EMN	D	0.04%
OLN	D	0.04%
CFG	B	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%
BLDR	D	0.04%
RGLD	C	0.04%
CVLT	B	0.04%
FDS	B	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%
ATI	D	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	B	0.04%
FTI	A	0.04%
SIG	B	0.04%
MHO	D	0.04%
GATX	A	0.04%
CRBG	B	0.04%
FITB	A	0.04%
EME	C	0.04%
HOOD	B	0.04%
JHG	A	0.04%
CMA	A	0.04%
UNM	A	0.04%
AROC	B	0.04%
ABM	B	0.04%
NDSN	B	0.04%
ERIE	D	0.04%
DCI	B	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%
X	C	0.03%
NTRS	A	0.03%
UDR	B	0.03%
PLXS	B	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%
HOLX	D	0.03%
COHR	B	0.03%
FE	C	0.03%
GMS	B	0.03%
BKU	A	0.03%
CDP	C	0.03%
RLI	B	0.03%
BLD	D	0.03%
DDS	B	0.03%
GGG	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%
BJ	A	0.03%
ACM	A	0.03%
MORN	B	0.03%
ODP	F	0.02%
IOSP	B	0.02%
LXP	D	0.02%
SAH	A	0.02%
KEX	C	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%
CSL	C	0.02%
AXTA	A	0.02%
ANDE	D	0.02%
BXP	D	0.02%
ZION	B	0.02%
APG	B	0.02%
DOW	F	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%
SNDR	B	0.02%
OSIS	B	0.02%
NAVI	C	0.02%
WMS	D	0.02%
PNR	A	0.02%
EPC	D	0.02%
M	D	0.02%
MAA	B	0.02%
LNT	A	0.02%
AGCO	D	0.02%
KBR	F	0.02%
JBLU	F	0.02%
PFSI	D	0.02%
VVV	F	0.02%
THS	D	0.02%
RHI	B	0.02%
SKX	D	0.02%
CC	C	0.02%
NWL	B	0.02%
OHI	C	0.02%
MDU	D	0.02%
OC	A	0.02%
SXT	B	0.02%
RLJ	C	0.02%
YELP	C	0.02%
DORM	B	0.02%
APOG	B	0.02%
SAM	C	0.02%
CTLT	B	0.02%
PSN	D	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%
HII	D	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%
JBHT	C	0.02%
ADNT	F	0.02%
ORA	B	0.02%
MTG	C	0.02%
TFX	F	0.02%
GEF	A	0.02%
MSA	D	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%
KNX	B	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%
SPR	D	0.01%
CLF	F	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%
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%
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	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%
NNI	D	0.01%
GES	F	0.01%
ESAB	B	0.01%
CWEN	C	0.01%
ONB	B	0.01%
CBSH	A	0.01%
WWD	B	0.01%
TTEK	F	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%
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%
VNT	B	0.01%
TDC	D	0.01%
SCCO	F	0.0%
NOMD	D	0.0%
WOLF	F	0.0%
HUN	F	0.0%

MFUS Underweight 69 Positions Relative to NXTI

Symbol	Grade	Weight
INTU	C	-2.08%
SNPS	B	-0.95%
SPOT	B	-0.93%
HON	B	-0.91%
CDNS	B	-0.87%
WDAY	B	-0.81%
GEV	B	-0.66%
TEAM	A	-0.61%
ABNB	C	-0.58%
DDOG	A	-0.54%
TT	A	-0.52%
CTSH	B	-0.47%
NTRA	B	-0.45%
FDX	B	-0.44%
SRPT	D	-0.43%
INSM	C	-0.39%
NET	B	-0.38%
HUBS	A	-0.34%
ZS	C	-0.33%
PEN	B	-0.32%
ITCI	C	-0.29%
PINS	D	-0.29%
IOT	A	-0.28%
STX	D	-0.26%
RDDT	B	-0.24%
MDB	C	-0.24%
SNAP	C	-0.23%
VMC	B	-0.23%
NWS	B	-0.22%
IONS	F	-0.22%
NTNX	A	-0.21%
MDGL	B	-0.2%
CYTK	F	-0.2%
BPMC	C	-0.2%
CVNA	B	-0.19%
DT	C	-0.19%
INSP	D	-0.19%
SMMT	D	-0.19%
TOST	B	-0.19%
BBIO	F	-0.18%
EL	F	-0.18%
DOCU	A	-0.18%
KEYS	A	-0.17%
HUM	C	-0.15%
RARE	D	-0.15%
CORT	B	-0.15%
ILMN	D	-0.15%
LYV	A	-0.15%
ALKS	B	-0.14%
DUOL	A	-0.14%
EXPE	B	-0.14%
AXSM	B	-0.14%
ACGL	D	-0.14%
FOLD	F	-0.12%
APLS	D	-0.12%
MTCH	D	-0.12%
GTLB	B	-0.11%
TGTX	B	-0.11%
IOVA	F	-0.11%
PCOR	B	-0.11%
DKNG	B	-0.1%
APPF	B	-0.1%
TXT	D	-0.1%
GPC	D	-0.1%
DNLI	D	-0.1%
APTV	D	-0.1%
CHWY	B	-0.09%
DYN	F	-0.09%
WING	D	-0.08%