MFUS vs. PTL ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Northern Lights Fund Trust IV Inspire 500 ETF (PTL)

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

PTL

Northern Lights Fund Trust IV Inspire 500 ETF

PTL Description

PTL is passively managed to invest in US large-cap stocks that align with the issuer's definition of biblical values and positive impact on the world, measured using various environmental, social, and governance criteria. The index provider analyzes publicly available and third-party data to assign a proprietary Impact Score to each eligible stock. The methodology excludes stocks with any degree of involvement in activities such as abortion, gambling, alcohol, tobacco, cannabis, stem cell research, in vitro fertilization, pornography, rights violations, and LGBT activism. The remaining stocks are scored based on how well they align with the issuer's values, considering factors including business ethics, employee wellbeing, customer welfare, product safety, ecological impact, and GHG emissions. The index selects the 500 highest-scoring stocks and weights them by market capitalization. Index components are reconstituted and rebalanced annually.

Grade (RS Rating)

Last Trade

$224.62

Average Daily Volume

7,636

Number of Holdings ^*

478

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	PTL
30 Days	2.73%	5.09%
60 Days	3.41%	5.71%
90 Days	5.38%	7.67%
12 Months	32.49%

306 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in PTL	Overlap
AA	B	0.02%	0.08%	0.02%
ACI	C	0.01%	0.08%	0.01%
ADC	B	0.01%	0.05%	0.01%
ADM	D	0.22%	0.18%	0.18%
ADP	B	0.11%	0.86%	0.11%
AFL	B	0.21%	0.42%	0.21%
AGCO	D	0.02%	0.05%	0.02%
AGNC	D	0.04%	0.05%	0.04%
AIG	B	0.34%	0.34%	0.34%
ALGN	D	0.01%	0.12%	0.01%
ALSN	B	0.11%	0.07%	0.07%
AMH	D	0.04%	0.1%	0.04%
AMKR	D	0.03%	0.05%	0.03%
AN	C	0.06%	0.05%	0.05%
ANET	C	0.14%	0.83%	0.14%
ANSS	B	0.05%	0.21%	0.05%
AOS	F	0.08%	0.07%	0.07%
APG	B	0.02%	0.07%	0.02%
APH	A	0.12%	0.6%	0.12%
APP	B	0.11%	0.76%	0.11%
AR	B	0.05%	0.07%	0.05%
ARW	D	0.04%	0.04%	0.04%
ATI	D	0.04%	0.05%	0.04%
ATO	A	0.02%	0.16%	0.02%
ATR	B	0.08%	0.08%	0.08%
AVGO	D	1.59%	5.22%	1.59%
AXTA	A	0.02%	0.06%	0.02%
AYI	B	0.1%	0.07%	0.07%
AZO	C	0.28%	0.35%	0.28%
BAX	D	0.04%	0.12%	0.04%
BERY	B	0.06%	0.06%	0.06%
BFAM	D	0.02%	0.04%	0.02%
BJ	A	0.03%	0.08%	0.03%
BKR	B	0.08%	0.31%	0.08%
BLD	D	0.03%	0.08%	0.03%
BLDR	D	0.04%	0.15%	0.04%
BRKR	D	0.02%	0.06%	0.02%
BRO	B	0.12%	0.22%	0.12%
BWA	D	0.01%	0.05%	0.01%
BWXT	B	0.11%	0.07%	0.07%
BXP	D	0.02%	0.09%	0.02%
CACI	D	0.09%	0.07%	0.07%
CAG	D	0.04%	0.09%	0.04%
CASY	A	0.16%	0.11%	0.11%
CAT	B	0.2%	1.22%	0.2%
CCI	D	0.07%	0.31%	0.07%
CCK	C	0.06%	0.07%	0.06%
CDW	F	0.03%	0.16%	0.03%
CEG	D	0.11%	0.41%	0.11%
CFR	B	0.01%	0.06%	0.01%
CHE	D	0.06%	0.06%	0.06%
CHRW	C	0.14%	0.08%	0.08%
CINF	A	0.02%	0.16%	0.02%
CLH	B	0.04%	0.1%	0.04%
CMS	C	0.03%	0.14%	0.03%
CNM	D	0.01%	0.06%	0.01%
COHR	B	0.03%	0.11%	0.03%
COIN	C	0.1%	0.54%	0.1%
COKE	C	0.03%	0.07%	0.03%
COLD	D	0.03%	0.05%	0.03%
COR	B	0.17%	0.34%	0.17%
CPAY	A	0.03%	0.18%	0.03%
CPB	D	0.04%	0.1%	0.04%
CPNG	D	0.04%	0.3%	0.04%
CPRT	A	0.09%	0.37%	0.09%
CPT	B	0.06%	0.09%	0.06%
CR	A	0.01%	0.07%	0.01%
CRBG	B	0.04%	0.12%	0.04%
CRS	A	0.11%	0.06%	0.06%
CSL	C	0.02%	0.14%	0.02%
CSX	B	0.11%	0.47%	0.11%
CTAS	B	0.19%	0.61%	0.19%
CUBE	D	0.04%	0.08%	0.04%
CW	B	0.11%	0.09%	0.09%
DCI	B	0.04%	0.06%	0.04%
DECK	A	0.17%	0.19%	0.17%
DG	F	0.09%	0.12%	0.09%
DHI	D	0.06%	0.39%	0.06%
DINO	D	0.01%	0.06%	0.01%
DLB	B	0.02%	0.05%	0.02%
DLR	B	0.09%	0.43%	0.09%
DLTR	F	0.03%	0.1%	0.03%
DOV	A	0.04%	0.19%	0.04%
DOX	D	0.03%	0.07%	0.03%
DTE	C	0.02%	0.17%	0.02%
DTM	B	0.01%	0.07%	0.01%
DVA	B	0.16%	0.09%	0.09%
ED	D	0.05%	0.23%	0.05%
EFX	F	0.11%	0.22%	0.11%
EHC	B	0.09%	0.07%	0.07%
ELAN	D	0.01%	0.04%	0.01%
ELS	C	0.04%	0.1%	0.04%
ELV	F	0.16%	0.67%	0.16%
EME	C	0.04%	0.17%	0.04%
EMR	A	0.09%	0.5%	0.09%
EQR	B	0.04%	0.2%	0.04%
ERIE	D	0.04%	0.15%	0.04%
ES	D	0.03%	0.15%	0.03%
ESNT	D	0.01%	0.04%	0.01%
ESS	B	0.04%	0.14%	0.04%
ETR	B	0.05%	0.22%	0.05%
EVR	B	0.13%	0.08%	0.08%
EVRG	A	0.02%	0.1%	0.02%
EWBC	A	0.02%	0.1%	0.02%
EXC	C	0.07%	0.26%	0.07%
EXEL	B	0.05%	0.07%	0.05%
EXP	A	0.07%	0.07%	0.07%
EXPD	D	0.11%	0.11%	0.11%
EXR	D	0.11%	0.25%	0.11%
FANG	D	0.05%	0.4%	0.05%
FAST	B	0.13%	0.33%	0.13%
FCN	D	0.05%	0.05%	0.05%
FCNCA	A	0.06%	0.24%	0.06%
FE	C	0.03%	0.16%	0.03%
FFIV	B	0.06%	0.1%	0.06%
FHN	A	0.01%	0.08%	0.01%
FICO	B	0.25%	0.39%	0.25%
FIX	A	0.06%	0.11%	0.06%
FLEX	A	0.05%	0.11%	0.05%
FLR	B	0.01%	0.06%	0.01%
FR	C	0.01%	0.05%	0.01%
FTNT	C	0.07%	0.48%	0.07%
FYBR	D	0.01%	0.06%	0.01%
G	B	0.06%	0.05%	0.05%
GAP	C	0.06%	0.05%	0.05%
GEHC	F	0.07%	0.26%	0.07%
GEN	B	0.11%	0.12%	0.11%
GGG	B	0.03%	0.1%	0.03%
GME	C	0.02%	0.07%	0.02%
GMED	A	0.03%	0.08%	0.03%
GNRC	B	0.06%	0.07%	0.06%
GNTX	C	0.05%	0.05%	0.05%
GPK	C	0.08%	0.06%	0.06%
GWRE	A	0.02%	0.11%	0.02%
HD	A	0.62%	2.69%	0.62%
HLI	B	0.08%	0.09%	0.08%
HOLX	D	0.03%	0.13%	0.03%
HST	C	0.02%	0.09%	0.02%
HUBB	B	0.03%	0.16%	0.03%
IBKR	A	0.06%	0.53%	0.06%
ICE	C	0.29%	0.62%	0.29%
IDXX	F	0.05%	0.25%	0.05%
IEX	B	0.09%	0.12%	0.09%
IFF	D	0.03%	0.16%	0.03%
INCY	C	0.01%	0.1%	0.01%
INVH	D	0.04%	0.15%	0.04%
IP	B	0.09%	0.15%	0.09%
IR	B	0.09%	0.29%	0.09%
ISRG	A	0.29%	1.34%	0.29%
ITT	A	0.08%	0.08%	0.08%
JBHT	C	0.02%	0.13%	0.02%
JBL	B	0.03%	0.09%	0.03%
JEF	A	0.03%	0.11%	0.03%
JKHY	D	0.1%	0.09%	0.09%
JNPR	F	0.13%	0.08%	0.08%
KBR	F	0.02%	0.05%	0.02%
KEX	C	0.02%	0.05%	0.02%
KLAC	D	0.23%	0.58%	0.23%
KMI	A	0.11%	0.43%	0.11%
KNX	B	0.01%	0.06%	0.01%
L	A	0.06%	0.13%	0.06%
LAD	A	0.02%	0.07%	0.02%
LAMR	D	0.05%	0.09%	0.05%
LECO	B	0.06%	0.08%	0.06%
LEN	D	0.06%	0.33%	0.06%
LII	A	0.21%	0.16%	0.16%
LOW	D	0.35%	1.01%	0.35%
LPX	B	0.08%	0.05%	0.05%
LSTR	D	0.09%	0.04%	0.04%
LW	C	0.03%	0.08%	0.03%
LYB	F	0.15%	0.19%	0.15%
MAA	B	0.02%	0.13%	0.02%
MANH	D	0.03%	0.11%	0.03%
MAS	D	0.06%	0.12%	0.06%
MHK	D	0.01%	0.06%	0.01%
MKC	D	0.05%	0.15%	0.05%
MKSI	C	0.01%	0.05%	0.01%
MKTX	D	0.02%	0.07%	0.02%
MLI	C	0.09%	0.07%	0.07%
MLM	B	0.07%	0.25%	0.07%
MNST	C	0.07%	0.37%	0.07%
MPWR	F	0.06%	0.19%	0.06%
MRO	B	0.03%	0.12%	0.03%
MSA	D	0.02%	0.05%	0.02%
MSCI	C	0.07%	0.31%	0.07%
MTD	D	0.08%	0.17%	0.08%
MTH	D	0.06%	0.05%	0.05%
MTN	C	0.05%	0.05%	0.05%
MUSA	A	0.16%	0.08%	0.08%
NBIX	C	0.04%	0.09%	0.04%
NDSN	B	0.04%	0.1%	0.04%
NEE	D	0.22%	1.08%	0.22%
NEM	D	0.16%	0.35%	0.16%
NI	A	0.02%	0.11%	0.02%
NNN	D	0.01%	0.06%	0.01%
NRG	B	0.07%	0.12%	0.07%
NSC	B	0.07%	0.42%	0.07%
NTAP	C	0.1%	0.17%	0.1%
NUE	C	0.08%	0.24%	0.08%
NVR	D	0.09%	0.19%	0.09%
NWSA	B	0.04%	0.12%	0.04%
OC	A	0.02%	0.12%	0.02%
ODFL	B	0.02%	0.33%	0.02%
OHI	C	0.02%	0.07%	0.02%
OKE	A	0.1%	0.48%	0.1%
ORLY	B	0.2%	0.47%	0.2%
OTIS	C	0.07%	0.25%	0.07%
PAG	B	0.02%	0.07%	0.02%
PANW	C	0.25%	0.89%	0.25%
PAYX	C	0.04%	0.35%	0.04%
PB	A	0.01%	0.06%	0.01%
PEG	A	0.06%	0.3%	0.06%
PGR	A	0.59%	1.06%	0.59%
PH	A	0.14%	0.61%	0.14%
PHM	D	0.1%	0.19%	0.1%
PKG	A	0.1%	0.15%	0.1%
PLTR	B	0.23%	0.98%	0.23%
PNW	B	0.01%	0.07%	0.01%
POOL	C	0.07%	0.1%	0.07%
POST	C	0.05%	0.04%	0.04%
PPC	C	0.01%	0.08%	0.01%
PSA	D	0.09%	0.4%	0.09%
PWR	A	0.12%	0.33%	0.12%
QCOM	F	0.77%	1.24%	0.77%
QRVO	F	0.01%	0.04%	0.01%
RBC	A	0.01%	0.07%	0.01%
REGN	F	0.36%	0.63%	0.36%
RF	A	0.02%	0.17%	0.02%
RGA	A	0.06%	0.11%	0.06%
RGLD	C	0.04%	0.07%	0.04%
RHI	B	0.02%	0.05%	0.02%
RKT	F	0.01%	0.2%	0.01%
RLI	B	0.03%	0.06%	0.03%
RMD	C	0.16%	0.25%	0.16%
ROL	B	0.07%	0.17%	0.07%
ROP	B	0.06%	0.42%	0.06%
RPM	A	0.13%	0.12%	0.12%
RPRX	D	0.03%	0.11%	0.03%
RRC	B	0.03%	0.06%	0.03%
RS	B	0.04%	0.12%	0.04%
RSG	A	0.13%	0.46%	0.13%
RVTY	F	0.01%	0.1%	0.01%
SAIC	F	0.01%	0.04%	0.01%
SATS	D	0.01%	0.05%	0.01%
SBAC	D	0.03%	0.16%	0.03%
SCCO	F	0.0%	0.52%	0.0%
SCI	B	0.07%	0.09%	0.07%
SEIC	B	0.09%	0.07%	0.07%
SF	B	0.02%	0.08%	0.02%
SFM	A	0.25%	0.1%	0.1%
SHW	A	0.22%	0.65%	0.22%
SLB	C	0.01%	0.44%	0.01%
SMCI	F	0.05%	0.11%	0.05%
SPG	B	0.16%	0.41%	0.16%
SSB	B	0.01%	0.06%	0.01%
SSNC	B	0.02%	0.13%	0.02%
STE	F	0.07%	0.15%	0.07%
STLD	B	0.04%	0.15%	0.04%
SUI	D	0.05%	0.12%	0.05%
SYY	B	0.12%	0.24%	0.12%
TER	D	0.03%	0.12%	0.03%
THC	D	0.28%	0.1%	0.1%
TMHC	B	0.09%	0.05%	0.05%
TOL	B	0.06%	0.11%	0.06%
TPX	B	0.03%	0.06%	0.03%
TRGP	B	0.11%	0.32%	0.11%
TSCO	D	0.11%	0.19%	0.11%
TSN	B	0.18%	0.16%	0.16%
TTC	D	0.06%	0.06%	0.06%
TTEK	F	0.01%	0.07%	0.01%
TTWO	A	0.07%	0.23%	0.07%
TW	A	0.06%	0.2%	0.06%
TXRH	C	0.06%	0.09%	0.06%
TYL	B	0.08%	0.18%	0.08%
UDR	B	0.03%	0.1%	0.03%
UFPI	B	0.07%	0.05%	0.05%
UHAL	D	0.01%	0.08%	0.01%
UHAL	D	0.01%	0.08%	0.01%
UHS	D	0.06%	0.1%	0.06%
UPS	C	0.24%	0.77%	0.24%
URI	B	0.09%	0.37%	0.09%
USFD	A	0.05%	0.12%	0.05%
UTHR	C	0.19%	0.11%	0.11%
VLO	C	0.16%	0.33%	0.16%
VLTO	D	0.04%	0.18%	0.04%
VNO	B	0.07%	0.05%	0.05%
VRSK	A	0.16%	0.28%	0.16%
VST	B	0.23%	0.29%	0.23%
VTR	C	0.04%	0.18%	0.04%
WAL	B	0.02%	0.07%	0.02%
WBS	A	0.02%	0.07%	0.02%
WCC	B	0.09%	0.07%	0.07%
WDC	D	0.08%	0.15%	0.08%
WELL	A	0.12%	0.58%	0.12%
WM	A	0.28%	0.6%	0.28%
WMS	D	0.02%	0.07%	0.02%
WPC	D	0.03%	0.09%	0.03%
WRB	A	0.02%	0.16%	0.02%
WSM	B	0.18%	0.15%	0.15%
WSO	A	0.17%	0.15%	0.15%
WST	C	0.05%	0.16%	0.05%
WTFC	A	0.01%	0.06%	0.01%
XOM	B	0.43%	3.74%	0.43%
XPO	B	0.04%	0.13%	0.04%
YUM	B	0.13%	0.25%	0.13%
ZION	B	0.02%	0.06%	0.02%

MFUS Overweight 509 Positions Relative to PTL

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%
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%
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	B	0.63%
MMM	D	0.6%
PFE	D	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%
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%
CL	D	0.35%
NOC	D	0.35%
MPC	D	0.34%
MET	A	0.32%
V	A	0.31%
SYF	B	0.31%
CHTR	C	0.3%
TXN	C	0.29%
COF	B	0.29%
SPGI	C	0.29%
MA	C	0.28%
HPQ	B	0.28%
TMO	F	0.28%
CAH	B	0.27%
LHX	C	0.26%
ALL	A	0.26%
ACN	C	0.25%
HCA	F	0.25%
ANF	C	0.25%
DHR	F	0.24%
GD	F	0.24%
AON	A	0.24%
AXP	A	0.23%
MDLZ	F	0.23%
PSX	C	0.23%
PRU	A	0.23%
RTX	C	0.22%
MS	A	0.22%
VRTX	F	0.22%
UBER	D	0.21%
BBY	D	0.21%
GWW	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%
CMG	B	0.2%
FI	A	0.19%
BLK	C	0.19%
BK	A	0.18%
AMP	A	0.18%
EA	A	0.18%
HWM	A	0.17%
BR	A	0.17%
LRCX	F	0.17%
GIS	D	0.17%
MU	D	0.16%
AJG	B	0.16%
F	C	0.16%
CB	C	0.16%
KMB	D	0.16%
CMCSA	B	0.16%
TDG	D	0.15%
MCO	B	0.15%
BAH	F	0.15%
KHC	F	0.15%
IT	C	0.15%
K	A	0.15%
KKR	A	0.15%
CME	A	0.14%
CMI	A	0.14%
VTRS	A	0.14%
BX	A	0.13%
SO	D	0.13%
DPZ	C	0.13%
DUK	C	0.13%
AMT	D	0.13%
CI	F	0.13%
IRM	D	0.12%
WBA	F	0.12%
PNC	B	0.12%
GDDY	A	0.12%
PYPL	B	0.12%
CLX	B	0.12%
USB	A	0.11%
WTW	B	0.11%
HPE	B	0.11%
DASH	A	0.11%
LDOS	C	0.11%
FOXA	B	0.11%
BDX	F	0.11%
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%
AIZ	A	0.09%
TFC	A	0.09%
DGX	A	0.09%
TAP	C	0.09%
ARES	A	0.09%
CALM	A	0.09%
TROW	B	0.09%
ADSK	A	0.09%
AVY	D	0.09%
GPI	A	0.09%
SBUX	A	0.09%
HRB	D	0.08%
AEP	D	0.08%
DKS	C	0.08%
SLG	B	0.08%
ECL	D	0.08%
SRE	A	0.08%
ABG	B	0.08%
EQH	B	0.08%
BIIB	F	0.07%
GLPI	C	0.07%
LPLA	A	0.07%
JCI	C	0.07%
CHD	B	0.07%
COP	C	0.07%
BCC	B	0.07%
INGR	B	0.07%
D	C	0.07%
SKYW	B	0.07%
GEO	B	0.07%
CNX	A	0.07%
THO	B	0.07%
R	B	0.07%
BALL	D	0.07%
KDP	D	0.07%
AEO	F	0.07%
FIS	C	0.07%
HCC	B	0.07%
STZ	D	0.06%
VIRT	B	0.06%
BC	C	0.06%
SEE	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%
KTB	B	0.06%
SLM	A	0.06%
CMC	B	0.06%
LUMN	C	0.06%
WU	D	0.06%
SQ	B	0.06%
PK	B	0.06%
AMG	B	0.06%
MSM	C	0.06%
OMC	C	0.06%
ALNY	D	0.06%
TDS	B	0.05%
NFG	A	0.05%
CNO	A	0.05%
PRIM	A	0.05%
THG	A	0.05%
NSIT	F	0.05%
LOPE	B	0.05%
URBN	C	0.05%
MOG.A	B	0.05%
TGNA	B	0.05%
A	D	0.05%
NDAQ	A	0.05%
CBRE	B	0.05%
CARR	D	0.05%
CRI	D	0.05%
SLGN	A	0.05%
EIX	B	0.05%
COOP	B	0.05%
SCHW	B	0.05%
ZTS	D	0.05%
TEX	D	0.05%
KD	B	0.05%
CBT	C	0.05%
GVA	A	0.05%
NXST	C	0.05%
HBI	B	0.05%
ALLY	C	0.05%
WEN	D	0.05%
WAB	B	0.05%
MMS	F	0.05%
HSY	F	0.05%
WAT	B	0.05%
BTU	B	0.05%
O	D	0.05%
SON	D	0.04%
AVT	C	0.04%
OSK	B	0.04%
LANC	C	0.04%
TKR	D	0.04%
PPL	B	0.04%
AWI	A	0.04%
SEM	B	0.04%
CRUS	D	0.04%
CXW	B	0.04%
SMG	D	0.04%
JWN	C	0.04%
CTVA	C	0.04%
PSTG	D	0.04%
BDC	B	0.04%
SLVM	B	0.04%
FLO	D	0.04%
ADBE	C	0.04%
WH	B	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%
RUSHA	C	0.04%
TRN	C	0.04%
SANM	B	0.04%
CVLT	B	0.04%
FDS	B	0.04%
VRSN	F	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%
MAC	B	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%
CNC	D	0.04%
ZBRA	B	0.04%
GATX	A	0.04%
FITB	A	0.04%
HOOD	B	0.04%
JHG	A	0.04%
CMA	A	0.04%
UNM	A	0.04%
PPG	F	0.04%
AROC	B	0.04%
ABM	B	0.04%
WERN	C	0.04%
MAR	B	0.04%
HXL	D	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%
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%
LBRDK	C	0.03%
DRI	B	0.03%
BKE	B	0.03%
FHI	A	0.03%
LNC	B	0.03%
AVTR	F	0.03%
OMF	A	0.03%
BURL	A	0.03%
X	C	0.03%
NTRS	A	0.03%
DELL	C	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%
ASO	F	0.03%
SHOO	D	0.03%
AVB	B	0.03%
AVA	A	0.03%
DBRG	F	0.03%
HSIC	B	0.03%
RL	B	0.03%
GMS	B	0.03%
BKU	A	0.03%
CDP	C	0.03%
DDS	B	0.03%
KBH	D	0.03%
GNW	A	0.03%
SM	B	0.03%
HBAN	A	0.03%
IVZ	B	0.03%
MC	C	0.03%
MATX	C	0.03%
MASI	A	0.03%
NYT	C	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%
LEG	F	0.02%
TTMI	B	0.02%
VSH	D	0.02%
LAUR	A	0.02%
UAL	A	0.02%
KIM	A	0.02%
BHE	B	0.02%
GT	C	0.02%
PHIN	A	0.02%
BEN	C	0.02%
ANDE	D	0.02%
DOW	F	0.02%
SNV	B	0.02%
NSP	D	0.02%
HP	B	0.02%
VFC	C	0.02%
DNOW	B	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%
LNW	D	0.02%
PNR	A	0.02%
EPC	D	0.02%
M	D	0.02%
LNT	A	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%
NWL	B	0.02%
MDU	D	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%
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%
HII	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%
NEU	C	0.02%
GHC	C	0.02%
STC	B	0.02%
SVC	F	0.01%
AAP	C	0.01%
CPRI	F	0.01%
NOV	C	0.01%
JELD	F	0.01%
SCL	C	0.01%
MLKN	D	0.01%
IGT	F	0.01%
CACC	D	0.01%
PARA	C	0.01%
ARI	C	0.01%
WOR	F	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%
RDN	C	0.01%
IMKTA	C	0.01%
XRX	F	0.01%
SR	A	0.01%
ARMK	B	0.01%
OUT	A	0.01%
SHO	C	0.01%
WGO	C	0.01%
AMED	F	0.01%
CNS	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%
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%
AES	F	0.01%
FELE	B	0.01%
DAN	D	0.01%
WMK	C	0.01%
KN	B	0.01%
STRA	C	0.01%
BBWI	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%
MUR	D	0.01%
ICUI	D	0.01%
CSGS	B	0.01%
BMRN	D	0.01%
TNET	D	0.01%
HE	C	0.01%
CADE	B	0.01%
PSMT	C	0.01%
H	B	0.01%
GOLF	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%
NOMD	D	0.0%
WOLF	F	0.0%
HUN	F	0.0%

MFUS Underweight 173 Positions Relative to PTL

Symbol	Grade	Weight
LIN	D	-1.49%
PLD	D	-0.76%
GEV	B	-0.62%
SNPS	B	-0.6%
MSTR	C	-0.58%
MRVL	B	-0.57%
EOG	A	-0.56%
FDX	B	-0.55%
TTD	B	-0.43%
FCX	D	-0.4%
PCAR	B	-0.4%
LNG	B	-0.35%
OXY	D	-0.33%
CVNA	B	-0.33%
VRT	B	-0.33%
KVUE	A	-0.32%
DDOG	A	-0.32%
AME	A	-0.31%
PCG	A	-0.31%
SNOW	C	-0.3%
EW	C	-0.3%
DAL	C	-0.27%
VMC	B	-0.26%
IQV	D	-0.26%
VEEV	C	-0.25%
TPL	A	-0.24%
MCHP	D	-0.24%
OWL	A	-0.23%
DXCM	D	-0.23%
NET	B	-0.23%
CSGP	D	-0.23%
WEC	A	-0.22%
ZS	C	-0.22%
IOT	A	-0.21%
ON	D	-0.21%
KEYS	A	-0.2%
HAL	C	-0.2%
AWK	D	-0.19%
DVN	F	-0.18%
CBOE	B	-0.16%
WY	D	-0.16%
TKO	B	-0.16%
TOST	B	-0.16%
AFRM	B	-0.16%
GFS	C	-0.16%
AEE	A	-0.16%
MDB	C	-0.15%
MKL	A	-0.15%
FSLR	F	-0.14%
CTRA	B	-0.14%
CNP	B	-0.14%
UI	A	-0.14%
LH	C	-0.14%
NTNX	A	-0.13%
SNA	A	-0.13%
PODD	C	-0.13%
ARE	D	-0.13%
CHWY	B	-0.12%
TRMB	B	-0.12%
GPC	D	-0.12%
RYAN	B	-0.12%
MOH	F	-0.12%
DOCU	A	-0.11%
SMMT	D	-0.11%
ENTG	D	-0.11%
BSY	D	-0.11%
CF	B	-0.11%
J	F	-0.11%
WLK	D	-0.11%
REG	B	-0.1%
AGR	B	-0.1%
DOC	D	-0.1%
DT	C	-0.1%
SAIA	B	-0.1%
KMX	B	-0.09%
SOLV	C	-0.09%
BG	F	-0.09%
PFGC	B	-0.09%
OVV	B	-0.09%
OKTA	C	-0.09%
INSM	C	-0.09%
PR	B	-0.09%
SN	D	-0.09%
PAYC	B	-0.09%
EPAM	C	-0.09%
EDR	A	-0.09%
SWKS	F	-0.09%
PCTY	B	-0.08%
FND	C	-0.08%
KNSL	B	-0.08%
MTZ	B	-0.08%
PCVX	D	-0.08%
MEDP	D	-0.08%
AFG	A	-0.08%
RRX	B	-0.08%
ALB	C	-0.08%
BIO	D	-0.07%
ITCI	C	-0.07%
BRBR	A	-0.07%
FRT	B	-0.07%
PNFP	B	-0.07%
RVMD	C	-0.07%
REXR	F	-0.07%
ORI	A	-0.07%
PRI	A	-0.07%
PEN	B	-0.07%
KNTK	B	-0.07%
WING	D	-0.07%
CFLT	B	-0.07%
UWMC	D	-0.07%
GL	B	-0.07%
AAON	B	-0.07%
AIT	A	-0.07%
HLNE	B	-0.07%
PCOR	B	-0.07%
LBRDA	C	-0.07%
GTLB	B	-0.07%
WTRG	B	-0.07%
TREX	C	-0.06%
ONTO	D	-0.06%
OLED	D	-0.06%
INFA	D	-0.06%
APPF	B	-0.06%
OGE	B	-0.06%
CHRD	D	-0.06%
EGP	F	-0.06%
APA	D	-0.06%
AUR	C	-0.06%
HESM	B	-0.06%
HQY	B	-0.06%
ENSG	D	-0.06%
MTSI	B	-0.06%
PLNT	A	-0.06%
SUM	B	-0.06%
ALTR	B	-0.06%
ROIV	C	-0.06%
FBIN	D	-0.06%
CIEN	B	-0.06%
FOUR	B	-0.06%
BRX	A	-0.06%
S	B	-0.06%
ENPH	F	-0.06%
ESTC	C	-0.06%
SITE	D	-0.05%
CGNX	C	-0.05%
NUVL	D	-0.05%
WFRD	D	-0.05%
WSC	D	-0.05%
STAG	F	-0.05%
SPSC	C	-0.05%
WTS	B	-0.05%
CELH	F	-0.05%
STWD	C	-0.05%
NPAB	B	-0.05%
HCP	B	-0.05%
PATH	C	-0.05%
LSCC	D	-0.05%
WEX	D	-0.05%
AM	A	-0.05%
JAZZ	B	-0.05%
BOKF	B	-0.05%
MIDD	C	-0.05%
SSD	D	-0.05%
GKOS	B	-0.05%
FRPT	B	-0.05%
RGEN	D	-0.05%
U	C	-0.05%
IBP	D	-0.04%
LNTH	D	-0.04%
TRNO	F	-0.04%
VKTX	F	-0.04%
ACHC	F	-0.03%
LCID	F	-0.03%