MFUS vs. SHUS ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Syntax Stratified U.S. Total Market Hedged ETF (SHUS)

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

SHUS

Syntax Stratified U.S. Total Market Hedged ETF

SHUS Description

The investment seeks to obtain capital growth that meets or exceeds the performance of the S&P Composite 1500® Index over a full market cycle by investing in ETFs or underlying securities that provide Stratified WeightTM U.S. total equity market exposure to companies in the 1500 while seeking risk-managed growth via a defined risk hedging process. The fund will also invest in index options for risk management purposes and to seek to generate additional returns. Syntax?s Stratified Weight? is designed to correct for business risk concentrations that regularly occur in cap-weighted indices and equal-weighted indices.

Grade (RS Rating)

Last Trade

$44.29

Average Daily Volume

2,444

Number of Holdings ^*

500

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	SHUS
30 Days	2.73%	2.26%
60 Days	3.41%	3.81%
90 Days	5.38%	5.24%
12 Months	32.49%	15.89%

377 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in SHUS	Overlap
A	D	0.05%	0.15%	0.05%
AAPL	C	0.97%	0.49%	0.49%
ABBV	D	1.35%	0.24%	0.24%
ACN	C	0.24%	0.13%	0.13%
ADBE	C	0.04%	0.15%	0.04%
ADM	D	0.23%	0.36%	0.23%
ADP	B	0.11%	0.21%	0.11%
ADSK	A	0.09%	0.16%	0.09%
AEP	D	0.08%	0.24%	0.08%
AES	F	0.01%	0.31%	0.01%
AFL	B	0.22%	0.2%	0.2%
AIG	B	0.34%	0.19%	0.19%
AIZ	A	0.09%	0.2%	0.09%
AJG	B	0.16%	0.03%	0.03%
AKAM	D	0.02%	0.26%	0.02%
ALGN	D	0.01%	0.1%	0.01%
ALL	A	0.26%	0.19%	0.19%
AMAT	F	0.5%	0.17%	0.17%
AMGN	D	0.92%	0.23%	0.23%
AMP	A	0.18%	0.09%	0.09%
AMT	D	0.14%	0.06%	0.06%
AMZN	C	1.65%	0.21%	0.21%
ANET	C	0.14%	0.21%	0.14%
ANSS	B	0.05%	0.17%	0.05%
AON	A	0.25%	0.04%	0.04%
AOS	F	0.08%	0.21%	0.08%
APH	A	0.12%	0.18%	0.12%
ATO	A	0.02%	0.32%	0.02%
AVB	B	0.03%	0.1%	0.03%
AVGO	D	1.54%	0.22%	0.22%
AVY	D	0.09%	0.06%	0.06%
AXP	A	0.23%	0.05%	0.05%
AZO	C	0.28%	0.15%	0.15%
BAC	A	0.45%	0.12%	0.12%
BALL	D	0.07%	0.12%	0.07%
BAX	D	0.04%	0.05%	0.04%
BBWI	D	0.01%	0.19%	0.01%
BBY	D	0.2%	0.17%	0.17%
BDX	F	0.11%	0.05%	0.05%
BEN	C	0.02%	0.08%	0.02%
BIIB	F	0.06%	0.24%	0.06%
BK	A	0.18%	0.11%	0.11%
BKNG	A	0.42%	0.13%	0.13%
BKR	B	0.08%	0.35%	0.08%
BLDR	D	0.04%	0.19%	0.04%
BLK	C	0.18%	0.09%	0.09%
BMY	B	0.41%	0.25%	0.25%
BR	A	0.17%	0.11%	0.11%
BRK.A	B	2.44%	0.49%	0.49%
BRO	B	0.12%	0.03%	0.03%
BSX	B	0.21%	0.06%	0.06%
BWA	D	0.01%	0.41%	0.01%
BX	A	0.13%	0.08%	0.08%
BXP	D	0.02%	0.11%	0.02%
C	A	0.7%	0.13%	0.13%
CAG	D	0.04%	0.21%	0.04%
CAH	B	0.27%	0.19%	0.19%
CARR	D	0.05%	0.08%	0.05%
CAT	B	0.2%	0.14%	0.14%
CB	C	0.16%	0.14%	0.14%
CBRE	B	0.05%	0.04%	0.04%
CCI	D	0.07%	0.06%	0.06%
CCL	B	0.02%	0.09%	0.02%
CDW	F	0.03%	0.12%	0.03%
CE	F	0.02%	0.07%	0.02%
CEG	D	0.11%	0.38%	0.11%
CFG	B	0.04%	0.05%	0.04%
CHD	B	0.07%	0.41%	0.07%
CHRW	C	0.14%	0.09%	0.09%
CHTR	C	0.3%	0.46%	0.3%
CI	F	0.13%	0.18%	0.13%
CINF	A	0.02%	0.14%	0.02%
CL	D	0.36%	0.4%	0.36%
CLX	B	0.13%	0.41%	0.13%
CMCSA	B	0.16%	0.51%	0.16%
CME	A	0.14%	0.04%	0.04%
CMG	B	0.2%	0.49%	0.2%
CMI	A	0.14%	0.08%	0.08%
CMS	C	0.03%	0.07%	0.03%
CNC	D	0.04%	0.25%	0.04%
COF	B	0.29%	0.69%	0.29%
COP	C	0.07%	0.07%	0.07%
COR	B	0.17%	0.18%	0.17%
COST	B	1.36%	0.7%	0.7%
CPAY	A	0.03%	0.04%	0.03%
CPB	D	0.04%	0.2%	0.04%
CPRT	A	0.08%	0.22%	0.08%
CPT	B	0.06%	0.1%	0.06%
CSCO	B	0.68%	0.21%	0.21%
CSX	B	0.11%	0.08%	0.08%
CTAS	B	0.19%	0.17%	0.17%
CTLT	B	0.02%	0.24%	0.02%
CTVA	C	0.04%	0.08%	0.04%
CVS	D	0.67%	0.68%	0.67%
CVX	A	0.39%	0.75%	0.39%
D	C	0.07%	0.24%	0.07%
DD	D	0.1%	0.05%	0.05%
DECK	A	0.17%	0.29%	0.17%
DELL	C	0.03%	0.17%	0.03%
DFS	B	0.1%	0.68%	0.1%
DG	F	0.08%	0.17%	0.08%
DGX	A	0.09%	0.16%	0.09%
DHI	D	0.06%	0.23%	0.06%
DHR	F	0.24%	0.1%	0.1%
DLR	B	0.09%	0.26%	0.09%
DLTR	F	0.02%	0.17%	0.02%
DOV	A	0.04%	0.17%	0.04%
DOW	F	0.02%	0.07%	0.02%
DPZ	C	0.13%	0.52%	0.13%
DRI	B	0.03%	0.5%	0.03%
DTE	C	0.02%	0.24%	0.02%
DUK	C	0.13%	0.07%	0.07%
DVA	B	0.17%	0.11%	0.11%
EA	A	0.19%	0.48%	0.19%
EBAY	D	0.36%	0.22%	0.22%
ECL	D	0.08%	0.05%	0.05%
ED	D	0.06%	0.24%	0.06%
EFX	F	0.1%	0.04%	0.04%
EIX	B	0.05%	0.24%	0.05%
ELV	F	0.15%	0.24%	0.15%
EMN	D	0.04%	0.05%	0.04%
EMR	A	0.09%	0.03%	0.03%
EQR	B	0.04%	0.1%	0.04%
ERIE	D	0.05%	0.2%	0.05%
ES	D	0.03%	0.07%	0.03%
ESS	B	0.04%	0.1%	0.04%
ETR	B	0.05%	0.25%	0.05%
EVRG	A	0.02%	0.08%	0.02%
EXC	C	0.07%	0.29%	0.07%
EXPD	D	0.11%	0.09%	0.09%
EXR	D	0.11%	0.11%	0.11%
F	C	0.15%	0.24%	0.15%
FANG	D	0.05%	0.07%	0.05%
FAST	B	0.13%	0.12%	0.12%
FDS	B	0.04%	0.04%	0.04%
FE	C	0.03%	0.24%	0.03%
FFIV	B	0.06%	0.2%	0.06%
FI	A	0.19%	0.06%	0.06%
FICO	B	0.25%	0.03%	0.03%
FIS	C	0.07%	0.05%	0.05%
FITB	A	0.04%	0.05%	0.04%
FOXA	B	0.11%	0.1%	0.1%
FTNT	C	0.07%	0.17%	0.07%
GD	F	0.23%	0.16%	0.16%
GDDY	A	0.12%	0.26%	0.12%
GE	D	0.56%	0.17%	0.17%
GEHC	F	0.07%	0.1%	0.07%
GEN	B	0.1%	0.17%	0.1%
GILD	C	0.84%	0.24%	0.24%
GIS	D	0.17%	0.21%	0.17%
GLW	B	0.2%	0.19%	0.19%
GM	B	0.38%	0.24%	0.24%
GNRC	B	0.06%	0.08%	0.06%
GS	A	0.4%	0.25%	0.25%
GWW	B	0.22%	0.13%	0.13%
HBAN	A	0.03%	0.05%	0.03%
HCA	F	0.24%	0.33%	0.24%
HD	A	0.62%	0.25%	0.25%
HIG	B	0.06%	0.14%	0.06%
HII	D	0.02%	0.08%	0.02%
HLT	A	0.1%	0.12%	0.1%
HOLX	D	0.03%	0.1%	0.03%
HPE	B	0.11%	0.19%	0.11%
HPQ	B	0.29%	0.34%	0.29%
HRL	D	0.02%	0.36%	0.02%
HSIC	B	0.03%	0.2%	0.03%
HST	C	0.02%	0.11%	0.02%
HSY	F	0.05%	0.17%	0.05%
HUBB	B	0.03%	0.26%	0.03%
HWM	A	0.18%	0.07%	0.07%
IBM	C	1.09%	0.33%	0.33%
ICE	C	0.29%	0.04%	0.04%
IDXX	F	0.05%	0.09%	0.05%
IEX	B	0.09%	0.2%	0.09%
IFF	D	0.03%	0.05%	0.03%
INCY	C	0.01%	0.25%	0.01%
INTC	D	0.19%	0.16%	0.16%
INVH	D	0.04%	0.1%	0.04%
IP	B	0.09%	0.06%	0.06%
IPG	D	0.04%	0.33%	0.04%
IR	B	0.09%	0.2%	0.09%
IRM	D	0.12%	0.06%	0.06%
ISRG	A	0.29%	0.12%	0.12%
IT	C	0.14%	0.13%	0.13%
ITW	B	0.1%	0.17%	0.1%
IVZ	B	0.03%	0.09%	0.03%
JBHT	C	0.02%	0.08%	0.02%
JBL	B	0.03%	0.37%	0.03%
JCI	C	0.07%	0.08%	0.07%
JKHY	D	0.1%	0.05%	0.05%
JNJ	D	1.2%	0.23%	0.23%
JNPR	F	0.12%	0.19%	0.12%
JPM	A	0.99%	0.12%	0.12%
K	A	0.15%	0.18%	0.15%
KDP	D	0.07%	0.24%	0.07%
KEY	B	0.03%	0.06%	0.03%
KHC	F	0.14%	0.21%	0.14%
KIM	A	0.02%	0.06%	0.02%
KKR	A	0.15%	0.09%	0.09%
KLAC	D	0.22%	0.17%	0.17%
KMB	D	0.17%	0.41%	0.17%
KMI	A	0.11%	0.25%	0.11%
KO	D	1.01%	0.24%	0.24%
KR	B	0.37%	0.73%	0.37%
L	A	0.06%	0.49%	0.06%
LDOS	C	0.11%	0.13%	0.11%
LEN	D	0.06%	0.24%	0.06%
LHX	C	0.26%	0.08%	0.08%
LLY	F	2.3%	0.23%	0.23%
LMT	D	0.75%	0.08%	0.08%
LNT	A	0.02%	0.08%	0.02%
LOW	D	0.35%	0.25%	0.25%
LW	C	0.03%	0.22%	0.03%
LYB	F	0.15%	0.07%	0.07%
MA	C	0.28%	0.05%	0.05%
MAA	B	0.02%	0.1%	0.02%
MAR	B	0.04%	0.12%	0.04%
MAS	D	0.06%	0.19%	0.06%
MCD	D	0.52%	0.49%	0.49%
MCK	B	0.64%	0.18%	0.18%
MCO	B	0.14%	0.04%	0.04%
MDLZ	F	0.22%	0.18%	0.18%
MET	A	0.32%	0.21%	0.21%
META	D	2.32%	0.46%	0.46%
MHK	D	0.01%	0.18%	0.01%
MKC	D	0.06%	0.21%	0.06%
MKTX	D	0.02%	0.04%	0.02%
MLM	B	0.07%	0.17%	0.07%
MMC	B	0.2%	0.03%	0.03%
MMM	D	0.58%	0.17%	0.17%
MNST	C	0.07%	0.25%	0.07%
MO	A	0.74%	0.35%	0.35%
MOS	F	0.01%	0.08%	0.01%
MPC	D	0.35%	0.48%	0.35%
MPWR	F	0.06%	0.21%	0.06%
MRK	F	0.83%	0.24%	0.24%
MRO	B	0.03%	0.07%	0.03%
MS	A	0.22%	0.26%	0.22%
MSCI	C	0.06%	0.04%	0.04%
MSI	B	0.2%	0.49%	0.2%
MTB	A	0.04%	0.06%	0.04%
MTD	D	0.08%	0.14%	0.08%
MU	D	0.16%	0.15%	0.15%
NDAQ	A	0.05%	0.04%	0.04%
NDSN	B	0.04%	0.03%	0.03%
NEE	D	0.23%	0.24%	0.23%
NEM	D	0.17%	0.24%	0.17%
NFLX	A	0.55%	0.22%	0.22%
NI	A	0.02%	0.32%	0.02%
NKE	D	0.06%	0.33%	0.06%
NOC	D	0.35%	0.08%	0.08%
NOW	A	0.35%	0.22%	0.22%
NRG	B	0.08%	0.32%	0.08%
NSC	B	0.07%	0.08%	0.07%
NTAP	C	0.1%	0.17%	0.1%
NTRS	A	0.03%	0.08%	0.03%
NUE	C	0.08%	0.25%	0.08%
NVDA	C	1.9%	0.13%	0.13%
NVR	D	0.09%	0.3%	0.09%
NWSA	B	0.04%	0.1%	0.04%
O	D	0.06%	0.06%	0.06%
ODFL	B	0.02%	0.08%	0.02%
OKE	A	0.1%	0.24%	0.1%
OMC	C	0.06%	0.33%	0.06%
ORCL	B	1.56%	0.34%	0.34%
ORLY	B	0.2%	0.14%	0.14%
OTIS	C	0.07%	0.08%	0.07%
PANW	C	0.25%	0.16%	0.16%
PARA	C	0.01%	0.2%	0.01%
PAYX	C	0.04%	0.21%	0.04%
PEG	A	0.06%	0.25%	0.06%
PEP	F	0.71%	0.17%	0.17%
PFE	D	0.55%	0.24%	0.24%
PFG	D	0.01%	0.2%	0.01%
PG	A	1.04%	0.41%	0.41%
PGR	A	0.59%	0.19%	0.19%
PH	A	0.14%	0.08%	0.08%
PHM	D	0.1%	0.25%	0.1%
PKG	A	0.1%	0.06%	0.06%
PLTR	B	0.24%	0.22%	0.22%
PM	B	0.89%	0.35%	0.35%
PNC	B	0.12%	0.06%	0.06%
PNR	A	0.02%	0.19%	0.02%
PNW	B	0.01%	0.07%	0.01%
POOL	C	0.07%	0.13%	0.07%
PPG	F	0.04%	0.07%	0.04%
PPL	B	0.04%	0.08%	0.04%
PRU	A	0.23%	0.2%	0.2%
PSA	D	0.09%	0.1%	0.09%
PSX	C	0.23%	0.5%	0.23%
PTC	A	0.04%	0.17%	0.04%
PWR	A	0.12%	0.4%	0.12%
PYPL	B	0.12%	0.06%	0.06%
QCOM	F	0.73%	0.22%	0.22%
QRVO	F	0.01%	0.21%	0.01%
RCL	A	0.11%	0.08%	0.08%
REGN	F	0.35%	0.23%	0.23%
RF	A	0.02%	0.06%	0.02%
RL	B	0.03%	0.32%	0.03%
RMD	C	0.17%	0.09%	0.09%
ROL	B	0.06%	0.18%	0.06%
ROP	B	0.06%	0.03%	0.03%
RSG	A	0.13%	0.18%	0.13%
RTX	C	0.22%	0.08%	0.08%
RVTY	F	0.01%	0.1%	0.01%
SBAC	D	0.03%	0.06%	0.03%
SBUX	A	0.09%	0.48%	0.09%
SCHW	B	0.05%	0.25%	0.05%
SHW	A	0.21%	0.06%	0.06%
SJM	D	0.04%	0.21%	0.04%
SLB	C	0.01%	0.34%	0.01%
SMCI	F	0.08%	0.15%	0.08%
SO	D	0.13%	0.08%	0.08%
SPG	B	0.17%	0.06%	0.06%
SPGI	C	0.29%	0.04%	0.04%
SRE	A	0.08%	0.07%	0.07%
STE	F	0.07%	0.12%	0.07%
STLD	B	0.04%	0.27%	0.04%
STZ	D	0.05%	0.25%	0.05%
SYF	B	0.31%	0.68%	0.31%
SYY	B	0.12%	0.73%	0.12%
T	A	0.75%	0.33%	0.33%
TAP	C	0.08%	0.25%	0.08%
TDG	D	0.15%	0.06%	0.06%
TER	D	0.03%	0.16%	0.03%
TFC	A	0.09%	0.05%	0.05%
TFX	F	0.02%	0.05%	0.02%
TGT	F	0.59%	0.17%	0.17%
TJX	A	0.38%	0.71%	0.38%
TMO	F	0.27%	0.14%	0.14%
TMUS	B	0.43%	0.33%	0.33%
TPR	B	0.01%	0.32%	0.01%
TRGP	B	0.11%	0.24%	0.11%
TROW	B	0.09%	0.08%	0.08%
TRV	B	0.2%	0.14%	0.14%
TSCO	D	0.11%	0.12%	0.11%
TSN	B	0.18%	0.35%	0.18%
TTWO	A	0.08%	0.48%	0.08%
TXN	C	0.28%	0.22%	0.22%
TYL	B	0.08%	0.21%	0.08%
UAL	A	0.02%	0.28%	0.02%
UBER	D	0.2%	0.11%	0.11%
UDR	B	0.03%	0.1%	0.03%
UHS	D	0.06%	0.32%	0.06%
ULTA	F	0.03%	0.17%	0.03%
UNH	C	0.81%	0.25%	0.25%
UNP	C	0.5%	0.08%	0.08%
UPS	C	0.24%	0.08%	0.08%
URI	B	0.09%	0.14%	0.09%
USB	A	0.11%	0.05%	0.05%
V	A	0.31%	0.04%	0.04%
VLO	C	0.16%	0.49%	0.16%
VLTO	D	0.04%	0.03%	0.03%
VRSK	A	0.16%	0.04%	0.04%
VRSN	F	0.04%	0.27%	0.04%
VRTX	F	0.21%	0.23%	0.21%
VST	B	0.26%	0.4%	0.26%
VTR	C	0.04%	0.11%	0.04%
VTRS	A	0.15%	0.24%	0.15%
VZ	C	1.03%	0.32%	0.32%
WAB	B	0.05%	0.13%	0.05%
WAT	B	0.05%	0.15%	0.05%
WBA	F	0.11%	0.63%	0.11%
WDC	D	0.08%	0.17%	0.08%
WELL	A	0.12%	0.11%	0.11%
WFC	A	0.99%	0.13%	0.13%
WM	A	0.27%	0.18%	0.18%
WMB	A	0.11%	0.24%	0.11%
WMT	A	1.77%	0.72%	0.72%
WRB	A	0.03%	0.13%	0.03%
WST	C	0.04%	0.05%	0.04%
WTW	B	0.11%	0.04%	0.04%
XOM	B	0.43%	0.75%	0.43%
XYL	D	0.11%	0.19%	0.11%
YUM	B	0.13%	0.5%	0.13%
ZBRA	B	0.04%	0.13%	0.04%
ZTS	D	0.05%	0.25%	0.05%

MFUS Overweight 438 Positions Relative to SHUS

Symbol	Grade	Weight
THC	D	0.26%
SFM	A	0.25%
ANF	C	0.24%
WSM	B	0.24%
LII	A	0.22%
WSO	A	0.18%
UTHR	C	0.18%
CASY	A	0.17%
MUSA	A	0.16%
LRCX	F	0.16%
BAH	F	0.14%
APP	B	0.13%
EVR	B	0.13%
RPM	A	0.13%
CW	B	0.11%
ALSN	B	0.11%
DASH	A	0.11%
COIN	C	0.11%
BWXT	B	0.11%
CRS	A	0.11%
AYI	B	0.1%
JXN	C	0.1%
LSTR	D	0.09%
WCC	B	0.09%
MLI	C	0.09%
EHC	B	0.09%
ARES	A	0.09%
TMHC	B	0.09%
GPI	A	0.09%
CALM	A	0.09%
GEO	B	0.08%
LPX	B	0.08%
ABG	B	0.08%
DKS	C	0.08%
HCC	B	0.08%
ATR	B	0.08%
GPK	C	0.08%
SLG	B	0.08%
EQH	B	0.08%
SEIC	B	0.08%
ITT	A	0.08%
HLI	B	0.08%
CACI	D	0.08%
FIX	A	0.07%
UFPI	B	0.07%
SQ	B	0.07%
INGR	B	0.07%
EXP	A	0.07%
BCC	B	0.07%
LPLA	A	0.07%
SCI	B	0.07%
GLPI	C	0.07%
SKYW	B	0.07%
AEO	F	0.07%
R	B	0.07%
VNO	B	0.07%
THO	B	0.07%
HRB	D	0.07%
CNX	A	0.07%
SEE	C	0.06%
JLL	D	0.06%
LECO	B	0.06%
TPH	D	0.06%
KTB	B	0.06%
HBI	B	0.06%
BFH	B	0.06%
CHE	D	0.06%
ATGE	B	0.06%
VIRT	B	0.06%
TW	A	0.06%
MTH	D	0.06%
SLM	A	0.06%
CCK	C	0.06%
PK	B	0.06%
CMC	B	0.06%
TXRH	C	0.06%
MSM	C	0.06%
BERY	B	0.06%
WU	D	0.06%
AN	C	0.06%
AMG	B	0.06%
TTC	D	0.06%
FCNCA	A	0.06%
ALNY	D	0.06%
RGA	A	0.06%
IBKR	A	0.06%
TOL	B	0.06%
EME	C	0.05%
URBN	C	0.05%
CNO	A	0.05%
NFG	A	0.05%
NSIT	F	0.05%
LOPE	B	0.05%
AROC	B	0.05%
THG	A	0.05%
TDS	B	0.05%
PRIM	A	0.05%
CRI	D	0.05%
GNTX	C	0.05%
MOG.A	B	0.05%
TGNA	B	0.05%
MTN	C	0.05%
EXEL	B	0.05%
SUI	D	0.05%
HOOD	B	0.05%
FLEX	A	0.05%
USFD	A	0.05%
SLGN	A	0.05%
TEX	D	0.05%
CBT	C	0.05%
COOP	B	0.05%
LAMR	D	0.05%
POST	C	0.05%
AR	B	0.05%
KD	B	0.05%
WEN	D	0.05%
ALLY	C	0.05%
NXST	C	0.05%
GAP	C	0.05%
LUMN	C	0.05%
GVA	A	0.05%
MMS	F	0.05%
BC	C	0.05%
FCN	D	0.05%
BTU	B	0.05%
G	B	0.05%
XPO	B	0.04%
SON	D	0.04%
TKR	D	0.04%
AVT	C	0.04%
ACM	A	0.04%
FL	F	0.04%
JWN	C	0.04%
CRUS	D	0.04%
AWI	A	0.04%
AMH	D	0.04%
CXW	B	0.04%
CPNG	D	0.04%
CLH	B	0.04%
BDC	B	0.04%
SEM	B	0.04%
WH	B	0.04%
PSTG	D	0.04%
RUSHA	C	0.04%
ELS	C	0.04%
SMG	D	0.04%
OLN	D	0.04%
AGNC	D	0.04%
FLO	D	0.04%
ARW	D	0.04%
SLVM	B	0.04%
TRN	C	0.04%
SANM	B	0.04%
OGN	D	0.04%
CVLT	B	0.04%
BHF	B	0.04%
NBIX	C	0.04%
CUBE	D	0.04%
GBX	A	0.04%
WTM	A	0.04%
JHG	A	0.04%
SIG	B	0.04%
HEI	B	0.04%
MAC	B	0.04%
HUBG	A	0.04%
RGLD	C	0.04%
CMA	A	0.04%
ATI	D	0.04%
MHO	D	0.04%
FTI	A	0.04%
CRBG	B	0.04%
WERN	C	0.04%
DCI	B	0.04%
GATX	A	0.04%
UNM	A	0.04%
ABM	B	0.04%
RS	B	0.04%
STC	B	0.03%
HAE	C	0.03%
GEF	A	0.03%
DRH	B	0.03%
COKE	C	0.03%
KMPR	B	0.03%
VC	D	0.03%
UNF	B	0.03%
LZB	B	0.03%
DK	C	0.03%
RRC	B	0.03%
GMED	A	0.03%
MAN	D	0.03%
PINC	B	0.03%
ACA	A	0.03%
PNM	F	0.03%
APAM	B	0.03%
FNF	B	0.03%
AMKR	D	0.03%
AVTR	F	0.03%
WPC	D	0.03%
BKE	B	0.03%
LBRDK	C	0.03%
ASO	F	0.03%
LNC	B	0.03%
FHI	A	0.03%
WHR	B	0.03%
OI	C	0.03%
JEF	A	0.03%
OMF	A	0.03%
BURL	A	0.03%
SHOO	D	0.03%
DBRG	F	0.03%
CG	A	0.03%
PRG	C	0.03%
RPRX	D	0.03%
COLD	D	0.03%
PLXS	B	0.03%
APLE	B	0.03%
X	C	0.03%
MATX	C	0.03%
BLD	D	0.03%
DDS	B	0.03%
GMS	B	0.03%
AVA	A	0.03%
GGG	B	0.03%
BKU	A	0.03%
MC	C	0.03%
DOX	D	0.03%
RLI	B	0.03%
KBH	D	0.03%
COHR	B	0.03%
NYT	C	0.03%
CDP	C	0.03%
TPX	B	0.03%
SM	B	0.03%
MANH	D	0.03%
GNW	A	0.03%
MORN	B	0.03%
BJ	A	0.03%
OSK	B	0.03%
MASI	A	0.03%
LANC	C	0.03%
LEG	F	0.02%
DTM	B	0.02%
TDC	D	0.02%
SATS	D	0.02%
TTMI	B	0.02%
LXP	D	0.02%
ODP	F	0.02%
KEX	C	0.02%
SSNC	B	0.02%
SF	B	0.02%
GT	C	0.02%
BRKR	D	0.02%
BHE	B	0.02%
CSL	C	0.02%
AXTA	A	0.02%
LAUR	A	0.02%
VFC	C	0.02%
WAL	B	0.02%
WBS	A	0.02%
PHIN	A	0.02%
JBLU	F	0.02%
NSP	D	0.02%
GME	C	0.02%
ZION	B	0.02%
SNV	B	0.02%
ANDE	D	0.02%
APG	B	0.02%
HP	B	0.02%
AA	B	0.02%
VVV	F	0.02%
DNOW	B	0.02%
LAD	A	0.02%
M	D	0.02%
HNI	B	0.02%
PMT	D	0.02%
NAVI	C	0.02%
WKC	D	0.02%
WMS	D	0.02%
LNW	D	0.02%
REZI	A	0.02%
XRAY	F	0.02%
KBR	F	0.02%
EPC	D	0.02%
SNDR	B	0.02%
RHI	B	0.02%
AGCO	D	0.02%
OSIS	B	0.02%
SKX	D	0.02%
PFSI	D	0.02%
NWL	B	0.02%
CC	C	0.02%
PSN	D	0.02%
SXT	B	0.02%
KSS	F	0.02%
OHI	C	0.02%
SAM	C	0.02%
APOG	B	0.02%
YELP	C	0.02%
OC	A	0.02%
RLJ	C	0.02%
THS	D	0.02%
DORM	B	0.02%
NTCT	C	0.02%
XHR	B	0.02%
GWRE	A	0.02%
MDU	D	0.02%
SBH	C	0.02%
PVH	C	0.02%
PBF	D	0.02%
PDCO	D	0.02%
PAG	B	0.02%
VSCO	B	0.02%
ADNT	F	0.02%
EWBC	A	0.02%
HOG	D	0.02%
MCY	A	0.02%
AIR	B	0.02%
DLB	B	0.02%
VSTO	A	0.02%
BFAM	D	0.02%
FAF	A	0.02%
GHC	C	0.02%
MSA	D	0.02%
ORA	B	0.02%
NEU	C	0.02%
RYN	D	0.02%
HXL	D	0.02%
MTG	C	0.02%
SVC	F	0.01%
AAP	C	0.01%
CPRI	F	0.01%
NOV	C	0.01%
KNX	B	0.01%
UHAL	D	0.01%
RKT	F	0.01%
JELD	F	0.01%
DINO	D	0.01%
SCL	C	0.01%
IGT	F	0.01%
MLKN	D	0.01%
GIII	D	0.01%
WOR	F	0.01%
ELAN	D	0.01%
CACC	D	0.01%
ARI	C	0.01%
CNXN	C	0.01%
MKSI	C	0.01%
ECPG	B	0.01%
HTH	B	0.01%
IMKTA	C	0.01%
RDN	C	0.01%
ACI	C	0.01%
SEB	F	0.01%
WGO	C	0.01%
CLF	F	0.01%
JBGS	D	0.01%
ALEX	C	0.01%
XRX	F	0.01%
UVV	B	0.01%
UGI	A	0.01%
SPR	D	0.01%
SHO	C	0.01%
ARMK	B	0.01%
OUT	A	0.01%
AMED	F	0.01%
SR	A	0.01%
CNS	B	0.01%
SSB	B	0.01%
ESI	A	0.01%
KALU	C	0.01%
SWX	B	0.01%
CVI	F	0.01%
CENTA	C	0.01%
OMI	F	0.01%
SAIC	F	0.01%
BRC	D	0.01%
PECO	A	0.01%
PB	A	0.01%
SIGI	C	0.01%
ARCH	B	0.01%
SPB	C	0.01%
LEA	D	0.01%
WAFD	B	0.01%
DY	D	0.01%
CROX	D	0.01%
FDP	B	0.01%
WMK	C	0.01%
DAN	D	0.01%
CNM	D	0.01%
CFR	B	0.01%
FELE	B	0.01%
PPC	C	0.01%
KN	B	0.01%
STRA	C	0.01%
NNN	D	0.01%
DXC	B	0.01%
NNI	D	0.01%
ESNT	D	0.01%
GES	F	0.01%
FLR	B	0.01%
ESAB	B	0.01%
LADR	B	0.01%
ONB	B	0.01%
IDCC	A	0.01%
BMRN	D	0.01%
TTEK	F	0.01%
CBSH	A	0.01%
ICUI	D	0.01%
WWD	B	0.01%
MUR	D	0.01%
TNET	D	0.01%
CADE	B	0.01%
CWEN	C	0.01%
CSGS	B	0.01%
UHAL	D	0.01%
FHN	A	0.01%
FYBR	D	0.01%
H	B	0.01%
WTFC	A	0.01%
PSMT	C	0.01%
AMWD	C	0.01%
VNT	B	0.01%
CR	A	0.01%
ADC	B	0.01%
PTEN	C	0.01%
SCS	C	0.01%
FR	C	0.01%
GOLF	B	0.01%
IOSP	B	0.01%
SAH	A	0.01%
DEI	B	0.01%
RBC	A	0.01%
HE	C	0.01%
VSH	D	0.01%
SCCO	F	0.0%
NOMD	D	0.0%
WOLF	F	0.0%
HUN	F	0.0%

MFUS Underweight 123 Positions Relative to SHUS

Symbol	Grade	Weight
ROST	C	-0.71%
EL	F	-0.49%
MTCH	D	-0.46%
KVUE	A	-0.41%
APTV	D	-0.39%
J	F	-0.39%
BG	F	-0.36%
CRM	B	-0.35%
SNPS	B	-0.34%
CDNS	B	-0.33%
HAL	C	-0.33%
AWK	D	-0.32%
MSFT	F	-0.32%
GRMN	B	-0.32%
LULU	C	-0.3%
FCX	D	-0.29%
TSLA	B	-0.27%
DAL	C	-0.27%
HUM	C	-0.26%
ETN	A	-0.26%
EQIX	A	-0.26%
SWK	D	-0.26%
MOH	F	-0.25%
LUV	C	-0.25%
SNA	A	-0.25%
CNP	B	-0.25%
RJF	A	-0.25%
ENPH	F	-0.25%
HAS	D	-0.25%
NXPI	D	-0.23%
MRNA	F	-0.23%
DAY	B	-0.22%
ADI	D	-0.22%
GOOGL	C	-0.22%
ON	D	-0.22%
GOOG	C	-0.22%
SWKS	F	-0.21%
PAYC	B	-0.21%
INTU	C	-0.2%
FSLR	F	-0.2%
KEYS	A	-0.2%
DIS	B	-0.2%
TEL	B	-0.19%
WBD	C	-0.19%
GL	B	-0.19%
CRWD	B	-0.18%
EQT	B	-0.18%
GEV	B	-0.18%
WY	D	-0.17%
CTRA	B	-0.17%
VMC	B	-0.17%
STX	D	-0.17%
DVN	F	-0.16%
BA	F	-0.16%
LH	C	-0.16%
TXT	D	-0.16%
HON	B	-0.16%
TECH	D	-0.15%
GPC	D	-0.15%
CRL	C	-0.14%
AMD	F	-0.14%
ACGL	D	-0.14%
EG	C	-0.14%
KMX	B	-0.14%
LKQ	D	-0.14%
EPAM	C	-0.13%
CTSH	B	-0.13%
DE	A	-0.13%
MCHP	D	-0.13%
IQV	D	-0.13%
SYK	C	-0.12%
ABNB	C	-0.12%
EXPE	B	-0.12%
ZBH	C	-0.12%
PCAR	B	-0.12%
AMCR	D	-0.12%
AME	A	-0.12%
DOC	D	-0.11%
STT	A	-0.11%
PODD	C	-0.1%
NWS	B	-0.1%
FOX	A	-0.1%
ARE	D	-0.1%
AXON	A	-0.09%
NCLH	B	-0.09%
CF	B	-0.09%
LYV	A	-0.09%
DXCM	D	-0.09%
AEE	A	-0.08%
TT	A	-0.08%
WYNN	D	-0.08%
LVS	C	-0.08%
FMC	D	-0.08%
SW	A	-0.07%
OXY	D	-0.07%
CZR	F	-0.07%
MGM	D	-0.07%
EOG	A	-0.07%
APA	D	-0.07%
HES	B	-0.07%
ALLE	D	-0.07%
WEC	A	-0.07%
FDX	B	-0.07%
PCG	A	-0.07%
XEL	A	-0.07%
EW	C	-0.06%
ABT	B	-0.06%
MDT	D	-0.06%
REG	B	-0.06%
FRT	B	-0.06%
PLD	D	-0.06%
VICI	C	-0.06%
APD	A	-0.05%
SOLV	C	-0.05%
ALB	C	-0.05%
CSGP	D	-0.04%
GPN	B	-0.04%
CBOE	B	-0.04%
LIN	D	-0.04%
ROK	B	-0.03%
FTV	C	-0.03%
TRMB	B	-0.03%
TDY	B	-0.03%