MFUS vs. RWL ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to RevenueShares Large Cap ETF (RWL)

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

RWL

RevenueShares Large Cap ETF

RWL Description

The investment seeks to outperform the total return performance of the S&P 500 Index, the fund's benchmark index. The fund seeks to achieve its investment objective by attempting to replicate the portfolio of the RevenueShares Large Cap IndexTM (the "underlying index"). The underlying index is constructed by re-weighting the constituent securities of the benchmark index according to the revenue earned by the companies in the benchmark index, subject to certain asset diversification requirements. The fund will invest at least 80% of its net assets in the securities of large capitalization companies included in the benchmark index.

Grade (RS Rating)

Last Trade

$103.10

Average Daily Volume

135,430

Number of Holdings ^*

499

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	RWL
30 Days	2.73%	4.90%
60 Days	3.41%	5.46%
90 Days	5.38%	7.07%
12 Months	32.49%	29.24%

377 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in RWL	Overlap
A	D	0.05%	0.03%	0.03%
AAPL	C	0.96%	2.18%	0.96%
ABBV	D	1.36%	0.26%	0.26%
ACN	C	0.25%	0.37%	0.25%
ADBE	C	0.04%	0.11%	0.04%
ADM	D	0.22%	0.42%	0.22%
ADP	B	0.11%	0.11%	0.11%
ADSK	A	0.09%	0.04%	0.04%
AEP	D	0.08%	0.1%	0.08%
AES	F	0.01%	0.05%	0.01%
AFL	B	0.21%	0.11%	0.11%
AIG	B	0.34%	0.24%	0.24%
AIZ	A	0.09%	0.07%	0.07%
AJG	B	0.16%	0.06%	0.06%
AKAM	D	0.02%	0.02%	0.02%
ALGN	D	0.01%	0.02%	0.01%
ALL	A	0.26%	0.34%	0.26%
AMAT	F	0.55%	0.15%	0.15%
AMGN	D	0.94%	0.15%	0.15%
AMP	A	0.18%	0.12%	0.12%
AMT	D	0.13%	0.05%	0.05%
AMZN	C	1.71%	3.77%	1.71%
ANET	C	0.14%	0.04%	0.04%
ANSS	B	0.05%	0.01%	0.01%
AON	A	0.24%	0.08%	0.08%
AOS	F	0.08%	0.02%	0.02%
APH	A	0.12%	0.08%	0.08%
ATO	A	0.02%	0.02%	0.02%
AVB	B	0.03%	0.02%	0.02%
AVGO	D	1.59%	0.26%	0.26%
AVY	D	0.09%	0.04%	0.04%
AXP	A	0.23%	0.44%	0.23%
AZO	C	0.28%	0.1%	0.1%
BAC	A	0.45%	1.24%	0.45%
BALL	D	0.07%	0.07%	0.07%
BAX	D	0.04%	0.07%	0.04%
BBY	D	0.21%	0.22%	0.21%
BDX	F	0.11%	0.11%	0.11%
BEN	C	0.02%	0.05%	0.02%
BIIB	F	0.07%	0.04%	0.04%
BK	A	0.18%	0.23%	0.18%
BKNG	A	0.42%	0.16%	0.16%
BKR	B	0.08%	0.19%	0.08%
BLDR	D	0.04%	0.09%	0.04%
BLK	C	0.19%	0.13%	0.13%
BMY	B	0.41%	0.3%	0.3%
BR	A	0.17%	0.04%	0.04%
BRK.A	B	2.42%	2.13%	2.13%
BRO	B	0.12%	0.03%	0.03%
BSX	B	0.2%	0.09%	0.09%
BWA	D	0.01%	0.08%	0.01%
BX	A	0.13%	0.07%	0.07%
BXP	D	0.02%	0.02%	0.02%
C	A	0.69%	1.1%	0.69%
CAG	D	0.04%	0.06%	0.04%
CAH	B	0.27%	1.34%	0.27%
CARR	D	0.05%	0.13%	0.05%
CAT	B	0.2%	0.41%	0.2%
CB	C	0.16%	0.29%	0.16%
CBRE	B	0.05%	0.2%	0.05%
CCI	D	0.07%	0.03%	0.03%
CCL	B	0.02%	0.18%	0.02%
CDW	F	0.03%	0.09%	0.03%
CE	F	0.02%	0.03%	0.02%
CEG	D	0.11%	0.14%	0.11%
CFG	B	0.04%	0.08%	0.04%
CHD	B	0.07%	0.03%	0.03%
CHRW	C	0.14%	0.11%	0.11%
CHTR	C	0.3%	0.35%	0.3%
CI	F	0.13%	1.06%	0.13%
CINF	A	0.02%	0.06%	0.02%
CL	D	0.35%	0.09%	0.09%
CLX	B	0.12%	0.04%	0.04%
CMCSA	B	0.16%	0.73%	0.16%
CME	A	0.14%	0.03%	0.03%
CMG	B	0.2%	0.06%	0.06%
CMI	A	0.14%	0.23%	0.14%
CMS	C	0.03%	0.04%	0.03%
CNC	D	0.04%	0.68%	0.04%
COF	B	0.29%	0.38%	0.29%
COP	C	0.07%	0.34%	0.07%
COR	B	0.17%	1.58%	0.17%
COST	B	1.35%	1.41%	1.35%
CPAY	A	0.03%	0.03%	0.03%
CPB	D	0.04%	0.05%	0.04%
CPRT	A	0.09%	0.03%	0.03%
CPT	B	0.06%	0.01%	0.01%
CSCO	B	0.68%	0.34%	0.34%
CSX	B	0.11%	0.09%	0.09%
CTAS	B	0.19%	0.05%	0.05%
CTLT	B	0.02%	0.02%	0.02%
CTVA	C	0.04%	0.09%	0.04%
CVS	D	0.65%	1.9%	0.65%
CVX	A	0.39%	1.25%	0.39%
D	C	0.07%	0.07%	0.07%
DD	D	0.1%	0.07%	0.07%
DECK	A	0.17%	0.03%	0.03%
DELL	C	0.03%	0.59%	0.03%
DFS	B	0.1%	0.16%	0.1%
DG	F	0.09%	0.2%	0.09%
DGX	A	0.09%	0.05%	0.05%
DHI	D	0.06%	0.17%	0.06%
DHR	F	0.24%	0.12%	0.12%
DLR	B	0.09%	0.03%	0.03%
DLTR	F	0.03%	0.16%	0.03%
DOV	A	0.04%	0.05%	0.04%
DOW	F	0.02%	0.21%	0.02%
DPZ	C	0.13%	0.03%	0.03%
DRI	B	0.03%	0.07%	0.03%
DTE	C	0.02%	0.06%	0.02%
DUK	C	0.13%	0.16%	0.13%
DVA	B	0.16%	0.06%	0.06%
EA	A	0.18%	0.04%	0.04%
EBAY	D	0.36%	0.05%	0.05%
ECL	D	0.08%	0.08%	0.08%
ED	D	0.05%	0.07%	0.05%
EFX	F	0.11%	0.03%	0.03%
EIX	B	0.05%	0.09%	0.05%
ELV	F	0.16%	0.7%	0.16%
EMN	D	0.04%	0.05%	0.04%
EMR	A	0.09%	0.12%	0.09%
EQR	B	0.04%	0.01%	0.01%
ERIE	D	0.04%	0.02%	0.02%
ES	D	0.03%	0.06%	0.03%
ESS	B	0.04%	0.01%	0.01%
ETR	B	0.05%	0.08%	0.05%
EVRG	A	0.02%	0.03%	0.02%
EXC	C	0.07%	0.12%	0.07%
EXPD	D	0.11%	0.05%	0.05%
EXR	D	0.11%	0.02%	0.02%
F	C	0.16%	1.03%	0.16%
FANG	D	0.05%	0.05%	0.05%
FAST	B	0.13%	0.05%	0.05%
FDS	B	0.04%	0.01%	0.01%
FE	C	0.03%	0.07%	0.03%
FFIV	B	0.06%	0.02%	0.02%
FI	A	0.19%	0.13%	0.13%
FICO	B	0.25%	0.01%	0.01%
FIS	C	0.07%	0.06%	0.06%
FITB	A	0.04%	0.08%	0.04%
FOXA	B	0.11%	0.05%	0.05%
FTNT	C	0.07%	0.04%	0.04%
GD	F	0.24%	0.24%	0.24%
GDDY	A	0.12%	0.03%	0.03%
GE	D	0.56%	0.21%	0.21%
GEHC	F	0.07%	0.1%	0.07%
GEN	B	0.11%	0.02%	0.02%
GILD	C	0.87%	0.17%	0.17%
GIS	D	0.17%	0.1%	0.1%
GLW	B	0.2%	0.08%	0.08%
GM	B	0.4%	1.22%	0.4%
GNRC	B	0.06%	0.03%	0.03%
GS	A	0.41%	0.82%	0.41%
GWW	B	0.21%	0.11%	0.11%
HBAN	A	0.03%	0.08%	0.03%
HCA	F	0.25%	0.33%	0.25%
HD	A	0.62%	0.89%	0.62%
HIG	B	0.06%	0.14%	0.06%
HII	D	0.02%	0.05%	0.02%
HLT	A	0.1%	0.07%	0.07%
HOLX	D	0.03%	0.02%	0.02%
HPE	B	0.11%	0.2%	0.11%
HPQ	B	0.28%	0.32%	0.28%
HRL	D	0.02%	0.06%	0.02%
HSIC	B	0.03%	0.06%	0.03%
HST	C	0.02%	0.03%	0.02%
HSY	F	0.05%	0.05%	0.05%
HUBB	B	0.03%	0.03%	0.03%
HWM	A	0.17%	0.05%	0.05%
IBM	C	1.05%	0.33%	0.33%
ICE	C	0.29%	0.06%	0.06%
IDXX	F	0.05%	0.02%	0.02%
IEX	B	0.09%	0.02%	0.02%
IFF	D	0.03%	0.05%	0.03%
INCY	C	0.01%	0.03%	0.01%
INTC	D	0.2%	0.39%	0.2%
INVH	D	0.04%	0.01%	0.01%
IP	B	0.09%	0.12%	0.09%
IPG	D	0.04%	0.06%	0.04%
IR	B	0.09%	0.04%	0.04%
IRM	D	0.12%	0.03%	0.03%
ISRG	A	0.29%	0.05%	0.05%
IT	C	0.15%	0.04%	0.04%
ITW	B	0.1%	0.09%	0.09%
IVZ	B	0.03%	0.04%	0.03%
JBHT	C	0.02%	0.07%	0.02%
JBL	B	0.03%	0.2%	0.03%
JCI	C	0.07%	0.17%	0.07%
JKHY	D	0.1%	0.01%	0.01%
JNJ	D	1.18%	0.44%	0.44%
JNPR	F	0.13%	0.03%	0.03%
JPM	A	0.99%	1.74%	0.99%
K	A	0.15%	0.07%	0.07%
KDP	D	0.07%	0.07%	0.07%
KEY	B	0.03%	0.07%	0.03%
KHC	F	0.15%	0.13%	0.13%
KIM	A	0.02%	0.01%	0.01%
KKR	A	0.15%	0.16%	0.15%
KLAC	D	0.23%	0.05%	0.05%
KMB	D	0.16%	0.1%	0.1%
KMI	A	0.11%	0.11%	0.11%
KO	D	1.0%	0.22%	0.22%
KR	B	0.38%	0.87%	0.38%
L	A	0.06%	0.1%	0.06%
LDOS	C	0.11%	0.09%	0.09%
LEN	D	0.06%	0.18%	0.06%
LHX	C	0.26%	0.12%	0.12%
LLY	F	2.39%	0.18%	0.18%
LMT	D	0.75%	0.37%	0.37%
LNT	A	0.02%	0.02%	0.02%
LOW	D	0.35%	0.49%	0.35%
LRCX	F	0.17%	0.08%	0.08%
LW	C	0.03%	0.04%	0.03%
LYB	F	0.15%	0.2%	0.15%
MA	C	0.28%	0.15%	0.15%
MAA	B	0.02%	0.01%	0.01%
MAR	B	0.04%	0.16%	0.04%
MAS	D	0.06%	0.04%	0.04%
MCD	D	0.53%	0.14%	0.14%
MCK	B	0.63%	2.03%	0.63%
MCO	B	0.15%	0.04%	0.04%
MDLZ	F	0.23%	0.17%	0.17%
MET	A	0.32%	0.41%	0.32%
META	D	2.35%	0.91%	0.91%
MHK	D	0.01%	0.05%	0.01%
MKC	D	0.05%	0.03%	0.03%
MKTX	D	0.02%	0.0%	0.0%
MLM	B	0.07%	0.04%	0.04%
MMC	B	0.2%	0.13%	0.13%
MMM	D	0.6%	0.13%	0.13%
MNST	C	0.07%	0.04%	0.04%
MO	A	0.73%	0.12%	0.12%
MOS	F	0.01%	0.07%	0.01%
MPC	D	0.34%	0.79%	0.34%
MPWR	F	0.06%	0.01%	0.01%
MRK	F	0.84%	0.29%	0.29%
MRO	B	0.03%	0.04%	0.03%
MS	A	0.22%	0.76%	0.22%
MSCI	C	0.07%	0.02%	0.02%
MSI	B	0.2%	0.06%	0.06%
MTB	A	0.04%	0.09%	0.04%
MTD	D	0.08%	0.02%	0.02%
MU	D	0.16%	0.13%	0.13%
NDAQ	A	0.05%	0.04%	0.04%
NDSN	B	0.04%	0.01%	0.01%
NEE	D	0.22%	0.12%	0.12%
NEM	D	0.16%	0.06%	0.06%
NFLX	A	0.52%	0.24%	0.24%
NI	A	0.02%	0.03%	0.02%
NKE	D	0.06%	0.27%	0.06%
NOC	D	0.35%	0.22%	0.22%
NOW	A	0.36%	0.07%	0.07%
NRG	B	0.07%	0.18%	0.07%
NSC	B	0.07%	0.07%	0.07%
NTAP	C	0.1%	0.04%	0.04%
NTRS	A	0.03%	0.1%	0.03%
NUE	C	0.08%	0.18%	0.08%
NVDA	C	1.9%	0.65%	0.65%
NVR	D	0.09%	0.05%	0.05%
NWSA	B	0.04%	0.03%	0.03%
O	D	0.05%	0.02%	0.02%
ODFL	B	0.02%	0.04%	0.02%
OKE	A	0.1%	0.12%	0.1%
OMC	C	0.06%	0.09%	0.06%
ORCL	B	1.52%	0.34%	0.34%
ORLY	B	0.2%	0.1%	0.1%
OTIS	C	0.07%	0.08%	0.07%
PANW	C	0.25%	0.05%	0.05%
PARA	C	0.01%	0.17%	0.01%
PAYX	C	0.04%	0.03%	0.03%
PEG	A	0.06%	0.06%	0.06%
PEP	F	0.74%	0.47%	0.47%
PFE	D	0.57%	0.27%	0.27%
PFG	D	0.01%	0.09%	0.01%
PG	A	1.01%	0.44%	0.44%
PGR	A	0.59%	0.38%	0.38%
PH	A	0.14%	0.13%	0.13%
PHM	D	0.1%	0.09%	0.09%
PKG	A	0.1%	0.05%	0.05%
PLTR	B	0.23%	0.02%	0.02%
PM	B	0.87%	0.2%	0.2%
PNC	B	0.12%	0.21%	0.12%
PNR	A	0.02%	0.03%	0.02%
PNW	B	0.01%	0.03%	0.01%
POOL	C	0.07%	0.03%	0.03%
PPG	F	0.04%	0.1%	0.04%
PPL	B	0.04%	0.05%	0.04%
PRU	A	0.23%	0.36%	0.23%
PSA	D	0.09%	0.02%	0.02%
PSX	C	0.23%	0.86%	0.23%
PTC	A	0.04%	0.01%	0.01%
PWR	A	0.12%	0.15%	0.12%
PYPL	B	0.12%	0.21%	0.12%
QCOM	F	0.77%	0.2%	0.2%
QRVO	F	0.01%	0.01%	0.01%
RCL	A	0.1%	0.12%	0.1%
REGN	F	0.36%	0.05%	0.05%
RF	A	0.02%	0.06%	0.02%
RL	B	0.03%	0.04%	0.03%
RMD	C	0.16%	0.02%	0.02%
ROL	B	0.07%	0.02%	0.02%
ROP	B	0.06%	0.04%	0.04%
RSG	A	0.13%	0.09%	0.09%
RTX	C	0.22%	0.4%	0.22%
RVTY	F	0.01%	0.01%	0.01%
SBAC	D	0.03%	0.01%	0.01%
SBUX	A	0.09%	0.2%	0.09%
SCHW	B	0.05%	0.18%	0.05%
SHW	A	0.22%	0.13%	0.13%
SJM	D	0.04%	0.04%	0.04%
SLB	C	0.01%	0.21%	0.01%
SMCI	F	0.05%	0.03%	0.03%
SO	D	0.13%	0.14%	0.13%
SPG	B	0.16%	0.03%	0.03%
SPGI	C	0.29%	0.07%	0.07%
SRE	A	0.08%	0.08%	0.08%
STE	F	0.07%	0.03%	0.03%
STLD	B	0.04%	0.12%	0.04%
STZ	D	0.06%	0.05%	0.05%
SYF	B	0.31%	0.15%	0.15%
SYY	B	0.12%	0.42%	0.12%
T	A	0.73%	0.69%	0.69%
TAP	C	0.09%	0.07%	0.07%
TDG	D	0.15%	0.04%	0.04%
TER	D	0.03%	0.01%	0.01%
TFC	A	0.09%	0.16%	0.09%
TFX	F	0.02%	0.01%	0.01%
TGT	F	0.74%	0.6%	0.6%
TJX	A	0.37%	0.31%	0.31%
TMO	F	0.28%	0.2%	0.2%
TMUS	B	0.43%	0.51%	0.43%
TPR	B	0.01%	0.05%	0.01%
TRGP	B	0.11%	0.12%	0.11%
TROW	B	0.09%	0.04%	0.04%
TRV	B	0.2%	0.26%	0.2%
TSCO	D	0.11%	0.08%	0.08%
TSN	B	0.18%	0.3%	0.18%
TTWO	A	0.07%	0.04%	0.04%
TXN	C	0.29%	0.09%	0.09%
TYL	B	0.08%	0.01%	0.01%
UAL	A	0.02%	0.56%	0.02%
UBER	D	0.21%	0.22%	0.21%
UDR	B	0.03%	0.01%	0.01%
UHS	D	0.06%	0.07%	0.06%
ULTA	F	0.04%	0.06%	0.04%
UNH	C	0.79%	2.1%	0.79%
UNP	C	0.51%	0.13%	0.13%
UPS	C	0.24%	0.51%	0.24%
URI	B	0.09%	0.09%	0.09%
USB	A	0.11%	0.26%	0.11%
V	A	0.31%	0.21%	0.21%
VLO	C	0.16%	0.8%	0.16%
VLTO	D	0.04%	0.03%	0.03%
VRSK	A	0.16%	0.02%	0.02%
VRSN	F	0.04%	0.01%	0.01%
VRTX	F	0.22%	0.06%	0.06%
VST	B	0.23%	0.13%	0.13%
VTR	C	0.04%	0.03%	0.03%
VTRS	A	0.14%	0.09%	0.09%
VZ	C	1.0%	0.68%	0.68%
WAB	B	0.05%	0.07%	0.05%
WAT	B	0.05%	0.02%	0.02%
WBA	F	0.12%	0.77%	0.12%
WDC	D	0.08%	0.07%	0.07%
WELL	A	0.12%	0.04%	0.04%
WFC	A	0.97%	0.93%	0.93%
WM	A	0.28%	0.12%	0.12%
WMB	A	0.1%	0.07%	0.07%
WMT	A	1.71%	3.83%	1.71%
WRB	A	0.02%	0.07%	0.02%
WST	C	0.05%	0.02%	0.02%
WTW	B	0.11%	0.06%	0.06%
XOM	B	0.43%	2.04%	0.43%
XYL	D	0.1%	0.04%	0.04%
YUM	B	0.13%	0.04%	0.04%
ZBRA	B	0.04%	0.03%	0.03%
ZTS	D	0.05%	0.04%	0.04%

MFUS Overweight 438 Positions Relative to RWL

Symbol	Grade	Weight
THC	D	0.28%
SFM	A	0.25%
ANF	C	0.25%
LII	A	0.21%
UTHR	C	0.19%
WSM	B	0.18%
WSO	A	0.17%
MUSA	A	0.16%
CASY	A	0.16%
BAH	F	0.15%
EVR	B	0.13%
RPM	A	0.13%
CW	B	0.11%
CRS	A	0.11%
DASH	A	0.11%
ALSN	B	0.11%
BWXT	B	0.11%
APP	B	0.11%
COIN	C	0.1%
AYI	B	0.1%
JXN	C	0.1%
SEIC	B	0.09%
MLI	C	0.09%
ARES	A	0.09%
WCC	B	0.09%
CALM	A	0.09%
LSTR	D	0.09%
EHC	B	0.09%
CACI	D	0.09%
TMHC	B	0.09%
GPI	A	0.09%
HRB	D	0.08%
LPX	B	0.08%
DKS	C	0.08%
SLG	B	0.08%
GPK	C	0.08%
ABG	B	0.08%
ATR	B	0.08%
HLI	B	0.08%
ITT	A	0.08%
EQH	B	0.08%
GLPI	C	0.07%
SCI	B	0.07%
LPLA	A	0.07%
UFPI	B	0.07%
EXP	A	0.07%
BCC	B	0.07%
INGR	B	0.07%
SKYW	B	0.07%
GEO	B	0.07%
CNX	A	0.07%
VNO	B	0.07%
THO	B	0.07%
R	B	0.07%
AEO	F	0.07%
HCC	B	0.07%
G	B	0.06%
VIRT	B	0.06%
BC	C	0.06%
TW	A	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%
BERY	B	0.06%
KTB	B	0.06%
CHE	D	0.06%
CCK	C	0.06%
SLM	A	0.06%
CMC	B	0.06%
FCNCA	A	0.06%
MTH	D	0.06%
FIX	A	0.06%
IBKR	A	0.06%
LUMN	C	0.06%
WU	D	0.06%
SQ	B	0.06%
PK	B	0.06%
TXRH	C	0.06%
TTC	D	0.06%
AMG	B	0.06%
AN	C	0.06%
RGA	A	0.06%
MSM	C	0.06%
TOL	B	0.06%
ALNY	D	0.06%
TDS	B	0.05%
NFG	A	0.05%
CNO	A	0.05%
PRIM	A	0.05%
FLEX	A	0.05%
THG	A	0.05%
AR	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%
GNTX	C	0.05%
MTN	C	0.05%
EXEL	B	0.05%
CRI	D	0.05%
USFD	A	0.05%
SLGN	A	0.05%
POST	C	0.05%
COOP	B	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%
HBI	B	0.05%
ALLY	C	0.05%
WEN	D	0.05%
FCN	D	0.05%
MMS	F	0.05%
BTU	B	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%
AWI	A	0.04%
SEM	B	0.04%
AMH	D	0.04%
CRUS	D	0.04%
CXW	B	0.04%
SMG	D	0.04%
JWN	C	0.04%
PSTG	D	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%
OLN	D	0.04%
ARW	D	0.04%
CPNG	D	0.04%
RUSHA	C	0.04%
TRN	C	0.04%
SANM	B	0.04%
RGLD	C	0.04%
CVLT	B	0.04%
NBIX	C	0.04%
CUBE	D	0.04%
WTM	A	0.04%
OGN	D	0.04%
BHF	B	0.04%
ATI	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%
GATX	A	0.04%
CRBG	B	0.04%
EME	C	0.04%
HOOD	B	0.04%
JHG	A	0.04%
CMA	A	0.04%
UNM	A	0.04%
RS	B	0.04%
AROC	B	0.04%
ABM	B	0.04%
DCI	B	0.04%
WERN	C	0.04%
COKE	C	0.03%
RRC	B	0.03%
HXL	D	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%
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%
BKE	B	0.03%
FHI	A	0.03%
LNC	B	0.03%
AVTR	F	0.03%
OMF	A	0.03%
RPRX	D	0.03%
BURL	A	0.03%
X	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%
AVA	A	0.03%
DBRG	F	0.03%
COHR	B	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%
MC	C	0.03%
MATX	C	0.03%
MASI	A	0.03%
TPX	B	0.03%
NYT	C	0.03%
BJ	A	0.03%
ACM	A	0.03%
MORN	B	0.03%
MANH	D	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%
LAUR	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%
WAL	B	0.02%
CSL	C	0.02%
AXTA	A	0.02%
ANDE	D	0.02%
ZION	B	0.02%
APG	B	0.02%
SNV	B	0.02%
NSP	D	0.02%
HP	B	0.02%
VFC	C	0.02%
DNOW	B	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%
SNDR	B	0.02%
OSIS	B	0.02%
NAVI	C	0.02%
WMS	D	0.02%
LNW	D	0.02%
EPC	D	0.02%
M	D	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%
DLB	B	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%
GWRE	A	0.02%
SAM	C	0.02%
PSN	D	0.02%
XHR	B	0.02%
PDCO	D	0.02%
PBF	D	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%
FAF	A	0.02%
SBH	C	0.02%
PAG	B	0.02%
BFAM	D	0.02%
VSTO	A	0.02%
KSS	F	0.02%
PVH	C	0.02%
RYN	D	0.02%
ADNT	F	0.02%
ORA	B	0.02%
MTG	C	0.02%
GEF	A	0.02%
MSA	D	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%
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%
ARI	C	0.01%
WOR	F	0.01%
ELAN	D	0.01%
CNXN	C	0.01%
SPR	D	0.01%
CLF	F	0.01%
ACI	C	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%
SHO	C	0.01%
WGO	C	0.01%
AMED	F	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%
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%
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%
CFR	B	0.01%
FELE	B	0.01%
DAN	D	0.01%
WMK	C	0.01%
FLR	B	0.01%
KN	B	0.01%
STRA	C	0.01%
BBWI	D	0.01%
ESNT	D	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%
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 122 Positions Relative to RWL

Symbol	Grade	Weight
MSFT	F	-1.34%
GOOGL	C	-1.01%
GOOG	C	-1.01%
TSLA	B	-0.71%
DIS	B	-0.59%
HUM	C	-0.54%
FDX	B	-0.49%
DAL	C	-0.48%
BA	F	-0.36%
DE	A	-0.31%
BG	F	-0.28%
CRM	B	-0.26%
GEV	B	-0.25%
WBD	C	-0.25%
HON	B	-0.23%
PCAR	B	-0.23%
ABT	B	-0.22%
MOH	F	-0.18%
LUV	C	-0.17%
MDT	D	-0.17%
LYV	A	-0.17%
LIN	D	-0.17%
ETN	A	-0.16%
EOG	A	-0.15%
OXY	D	-0.15%
FCX	D	-0.14%
HAL	C	-0.14%
KMX	B	-0.14%
PCG	A	-0.14%
TT	A	-0.12%
AMD	F	-0.12%
SW	A	-0.12%
STT	A	-0.12%
SYK	C	-0.12%
ROST	C	-0.11%
RJF	A	-0.11%
CTSH	B	-0.11%
GPC	D	-0.11%
INTU	C	-0.1%
MGM	D	-0.1%
EXPE	B	-0.1%
KVUE	A	-0.09%
APTV	D	-0.09%
J	F	-0.09%
LVS	C	-0.08%
HES	B	-0.08%
XEL	A	-0.08%
EG	C	-0.08%
DVN	F	-0.08%
EL	F	-0.07%
ABNB	C	-0.07%
LULU	C	-0.07%
NCLH	B	-0.07%
AMCR	D	-0.07%
NXPI	D	-0.07%
IQV	D	-0.07%
SWK	D	-0.07%
ACGL	D	-0.07%
LH	C	-0.07%
APD	A	-0.07%
TXT	D	-0.07%
LKQ	D	-0.07%
GPN	B	-0.06%
CZR	F	-0.06%
FOX	A	-0.05%
WYNN	D	-0.05%
APA	D	-0.05%
EQIX	A	-0.05%
WEC	A	-0.05%
ALB	C	-0.05%
VMC	B	-0.05%
ADI	D	-0.05%
CNP	B	-0.05%
ROK	B	-0.05%
SNA	A	-0.04%
PLD	D	-0.04%
GRMN	B	-0.04%
SNPS	B	-0.04%
WY	D	-0.04%
ON	D	-0.04%
AEE	A	-0.04%
ZBH	C	-0.04%
AME	A	-0.04%
SOLV	C	-0.04%
TRMB	B	-0.03%
CDNS	B	-0.03%
CRWD	B	-0.03%
KEYS	A	-0.03%
MCHP	D	-0.03%
EPAM	C	-0.03%
EW	C	-0.03%
NWS	B	-0.03%
EQT	B	-0.03%
GL	B	-0.03%
CTRA	B	-0.03%
TDY	B	-0.03%
STX	D	-0.03%
FTV	C	-0.03%
CF	B	-0.03%
MRNA	F	-0.02%
AXON	A	-0.02%
MTCH	D	-0.02%
FSLR	F	-0.02%
VICI	C	-0.02%
FMC	D	-0.02%
SWKS	F	-0.02%
CBOE	B	-0.02%
ALLE	D	-0.02%
AWK	D	-0.02%
CRL	C	-0.02%
HAS	D	-0.02%
DXCM	D	-0.02%
FRT	B	-0.01%
TECH	D	-0.01%
REG	B	-0.01%
PODD	C	-0.01%
DAY	B	-0.01%
DOC	D	-0.01%
PAYC	B	-0.01%
CSGP	D	-0.01%
ARE	D	-0.01%
ENPH	F	-0.0%