MFUS vs. SSPY ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Syntax Stratified LargeCap ETF (SSPY)

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

$47.41

Average Daily Volume

4,916

Number of Holdings ^*

768

* may have additional holdings in another (foreign) market

SSPY

Syntax Stratified LargeCap ETF

SSPY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies in the Syntax Stratified LargeCap Index (the "index"). Under normal market conditions, the fund generally invests substantially all, and at least 95% of its total assets in the securities comprising the index. The index, which was created by Syntax, LLC, an affiliate of the fund's investment adviser, is the stratified-weight version of the widely used S&P 500® Index and holds the same constituents as the S&P 500.

Grade (RS Rating)

Last Trade

$75.07

Average Daily Volume

1,139

Number of Holdings ^*

496

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	SSPY
30 Days	3.01%	1.16%
60 Days	5.03%	0.77%
90 Days	0.84%	-2.49%
12 Months	23.23%	13.23%

333 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in SSPY	Overlap
AAPL	B	0.8%	0.65%	0.65%
ABBV	B	0.67%	0.25%	0.25%
ACN	D	0.57%	0.13%	0.13%
ADBE	B	0.53%	0.16%	0.16%
ADM	F	0.26%	0.42%	0.26%
ADP	D	0.09%	0.23%	0.09%
ADSK	B	0.19%	0.17%	0.17%
AES	D	0.04%	0.45%	0.04%
AFL	B	0.1%	0.22%	0.1%
AIG	D	0.33%	0.26%	0.26%
AIZ	D	0.05%	0.24%	0.05%
AJG	B	0.15%	0.04%	0.04%
AKAM	F	0.05%	0.27%	0.05%
ALGN	F	0.02%	0.08%	0.02%
ALL	D	0.27%	0.26%	0.26%
AMAT	B	0.77%	0.21%	0.21%
AMD	B	0.53%	0.1%	0.1%
AMGN	B	0.73%	0.29%	0.29%
AMP	C	0.01%	0.1%	0.01%
AMZN	B	1.56%	0.16%	0.16%
ANET	A	0.17%	0.26%	0.17%
ANSS	D	0.07%	0.17%	0.07%
AON	C	0.17%	0.04%	0.04%
AOS	D	0.11%	0.19%	0.11%
APA	D	0.01%	0.07%	0.01%
APH	B	0.15%	0.24%	0.15%
AVGO	C	2.05%	0.32%	0.32%
AVY	C	0.08%	0.07%	0.07%
AZO	B	0.23%	0.15%	0.15%
BALL	D	0.02%	0.12%	0.02%
BAX	F	0.03%	0.04%	0.03%
BBWI	F	0.03%	0.16%	0.03%
BBY	B	0.21%	0.2%	0.2%
BDX	D	0.09%	0.05%	0.05%
BEN	D	0.04%	0.08%	0.04%
BIIB	C	0.1%	0.26%	0.1%
BK	A	0.2%	0.12%	0.12%
BKNG	A	0.62%	0.13%	0.13%
BKR	B	0.13%	0.36%	0.13%
BLDR	F	0.04%	0.14%	0.04%
BMY	F	0.2%	0.2%	0.2%
BR	C	0.16%	0.11%	0.11%
BRK.A	C	1.89%	0.52%	0.52%
BRO	B	0.11%	0.04%	0.04%
BSX	A	0.23%	0.07%	0.07%
BWA	F	0.02%	0.4%	0.02%
BX	B	0.24%	0.1%	0.1%
BXP	B	0.01%	0.17%	0.01%
C	C	0.83%	0.14%	0.14%
CAG	D	0.02%	0.23%	0.02%
CAH	D	0.32%	0.19%	0.19%
CARR	B	0.04%	0.09%	0.04%
CAT	C	0.5%	0.12%	0.12%
CCL	B	0.08%	0.08%	0.08%
CDNS	B	0.19%	0.36%	0.19%
CDW	D	0.05%	0.12%	0.05%
CE	F	0.07%	0.06%	0.06%
CEG	C	0.15%	0.5%	0.15%
CFG	C	0.02%	0.05%	0.02%
CHD	C	0.06%	0.47%	0.06%
CHRW	B	0.07%	0.1%	0.07%
CHTR	C	0.2%	0.51%	0.2%
CL	B	0.18%	0.49%	0.18%
CLX	D	0.12%	0.39%	0.12%
CMA	C	0.01%	0.05%	0.01%
CMCSA	C	0.6%	0.45%	0.45%
CME	D	0.08%	0.04%	0.04%
CMG	C	0.24%	0.66%	0.24%
CMI	D	0.1%	0.08%	0.08%
COF	C	0.36%	0.69%	0.36%
COP	D	0.1%	0.07%	0.07%
COST	B	1.27%	0.93%	0.93%
CPAY	D	0.04%	0.04%	0.04%
CPB	C	0.01%	0.23%	0.01%
CPRT	C	0.22%	0.23%	0.22%
CPT	A	0.05%	0.12%	0.05%
CRM	D	0.46%	0.26%	0.26%
CSCO	C	0.46%	0.19%	0.19%
CSX	C	0.1%	0.07%	0.07%
CTAS	B	0.2%	0.22%	0.2%
CTSH	C	0.06%	0.15%	0.06%
CTVA	C	0.03%	0.08%	0.03%
CVS	D	0.71%	0.56%	0.56%
CVX	C	0.62%	0.79%	0.62%
DD	B	0.1%	0.06%	0.06%
DECK	B	0.18%	0.29%	0.18%
DFS	A	0.05%	0.72%	0.05%
DG	D	0.08%	0.14%	0.08%
DGX	D	0.06%	0.18%	0.06%
DHI	D	0.08%	0.23%	0.08%
DLR	A	0.08%	0.34%	0.08%
DLTR	F	0.04%	0.12%	0.04%
DPZ	B	0.22%	0.62%	0.22%
DRI	C	0.02%	0.46%	0.02%
DVA	C	0.15%	0.09%	0.09%
EA	B	0.07%	0.53%	0.07%
EBAY	B	0.26%	0.16%	0.16%
EFX	B	0.07%	0.04%	0.04%
ELV	A	0.08%	0.29%	0.08%
EMN	C	0.02%	0.05%	0.02%
EMR	C	0.1%	0.03%	0.03%
EQIX	C	0.05%	0.29%	0.05%
ETN	D	0.26%	0.28%	0.26%
EVRG	C	0.01%	0.08%	0.01%
EXC	D	0.08%	0.37%	0.08%
EXPD	B	0.06%	0.09%	0.06%
EXPE	C	0.03%	0.1%	0.03%
EXR	B	0.06%	0.12%	0.06%
F	C	0.29%	0.25%	0.25%
FAST	F	0.09%	0.11%	0.09%
FDS	D	0.06%	0.04%	0.04%
FFIV	C	0.01%	0.18%	0.01%
FICO	A	0.19%	0.05%	0.05%
FIS	B	0.09%	0.06%	0.06%
FITB	C	0.04%	0.05%	0.04%
FOXA	A	0.03%	0.12%	0.03%
FTNT	D	0.05%	0.19%	0.05%
GD	C	0.01%	0.19%	0.01%
GE	D	0.84%	0.25%	0.25%
GEHC	D	0.02%	0.07%	0.02%
GEV	B	0.22%	0.06%	0.06%
GILD	C	0.69%	0.22%	0.22%
GIS	D	0.08%	0.23%	0.08%
GLW	B	0.18%	0.24%	0.18%
GM	B	0.45%	0.31%	0.31%
GNRC	D	0.04%	0.09%	0.04%
GOOGL	B	1.72%	0.3%	0.3%
GPC	D	0.02%	0.14%	0.02%
GPN	D	0.05%	0.03%	0.03%
GS	B	0.17%	0.3%	0.17%
GWW	D	0.2%	0.12%	0.12%
HCA	C	0.15%	0.36%	0.15%
HD	B	0.46%	0.24%	0.24%
HIG	B	0.05%	0.16%	0.05%
HII	D	0.02%	0.07%	0.02%
HLT	A	0.11%	0.12%	0.11%
HOLX	C	0.03%	0.08%	0.03%
HPE	B	0.21%	0.25%	0.21%
HPQ	B	0.22%	0.41%	0.22%
HRL	F	0.01%	0.35%	0.01%
HSIC	F	0.03%	0.19%	0.03%
HST	D	0.02%	0.1%	0.02%
HSY	F	0.05%	0.18%	0.05%
HUBB	D	0.08%	0.25%	0.08%
HWM	C	0.13%	0.09%	0.09%
IBM	B	1.11%	0.3%	0.3%
ICE	A	0.25%	0.04%	0.04%
IDXX	D	0.15%	0.08%	0.08%
IEX	D	0.08%	0.16%	0.08%
INCY	B	0.01%	0.26%	0.01%
INTC	F	0.68%	0.1%	0.1%
INTU	B	0.3%	0.21%	0.21%
INVH	A	0.08%	0.12%	0.08%
IP	B	0.04%	0.08%	0.04%
IPG	F	0.06%	0.16%	0.06%
IR	C	0.09%	0.2%	0.09%
IRM	A	0.11%	0.07%	0.07%
ISRG	A	0.32%	0.14%	0.14%
IT	B	0.14%	0.17%	0.14%
ITW	D	0.08%	0.19%	0.08%
IVZ	D	0.04%	0.09%	0.04%
JBHT	F	0.02%	0.07%	0.02%
JBL	F	0.09%	0.29%	0.09%
JKHY	B	0.09%	0.05%	0.05%
JNJ	F	0.86%	0.23%	0.23%
JNPR	B	0.1%	0.2%	0.1%
JPM	A	1.15%	0.13%	0.13%
K	D	0.07%	0.21%	0.07%
KDP	C	0.04%	0.31%	0.04%
KHC	D	0.11%	0.21%	0.11%
KLAC	B	0.36%	0.21%	0.21%
KMB	B	0.15%	0.5%	0.15%
KMI	A	0.03%	0.29%	0.03%
KO	A	0.52%	0.27%	0.27%
KR	D	0.29%	0.72%	0.29%
L	D	0.05%	0.53%	0.05%
LDOS	B	0.06%	0.19%	0.06%
LEN	D	0.08%	0.23%	0.08%
LHX	A	0.1%	0.09%	0.09%
LLY	A	2.84%	0.3%	0.3%
LMT	A	0.41%	0.09%	0.09%
LOW	D	0.23%	0.24%	0.23%
LRCX	B	0.51%	0.2%	0.2%
LVS	F	0.03%	0.06%	0.03%
LW	F	0.05%	0.18%	0.05%
LYB	C	0.2%	0.07%	0.07%
MA	D	0.96%	0.04%	0.04%
MAR	B	0.16%	0.11%	0.11%
MAS	D	0.05%	0.17%	0.05%
MCD	D	0.37%	0.44%	0.37%
MCK	B	0.65%	0.24%	0.24%
MCO	A	0.16%	0.05%	0.05%
MDLZ	D	0.18%	0.18%	0.18%
MET	D	0.18%	0.2%	0.18%
META	B	2.45%	0.45%	0.45%
MHK	C	0.01%	0.18%	0.01%
MKC	D	0.06%	0.22%	0.06%
MKTX	F	0.02%	0.04%	0.02%
MLM	D	0.06%	0.16%	0.06%
MMC	B	0.39%	0.04%	0.04%
MMM	B	0.21%	0.26%	0.21%
MNST	D	0.07%	0.21%	0.07%
MO	B	0.44%	0.41%	0.41%
MOH	F	0.02%	0.21%	0.02%
MOS	D	0.03%	0.07%	0.03%
MPC	D	0.73%	0.5%	0.5%
MPWR	B	0.08%	0.27%	0.08%
MRK	C	1.05%	0.27%	0.27%
MRO	B	0.06%	0.08%	0.06%
MSCI	F	0.06%	0.04%	0.04%
MSFT	B	1.53%	0.38%	0.38%
MSI	A	0.07%	0.59%	0.07%
MTCH	F	0.02%	0.41%	0.02%
MTD	B	0.08%	0.15%	0.08%
MU	C	0.31%	0.22%	0.22%
NDAQ	C	0.02%	0.04%	0.02%
NDSN	D	0.04%	0.03%	0.03%
NEM	B	0.06%	0.32%	0.06%
NFLX	B	0.59%	0.26%	0.26%
NKE	F	0.07%	0.25%	0.07%
NOC	D	0.18%	0.08%	0.08%
NOW	B	0.3%	0.33%	0.3%
NRG	C	0.07%	0.51%	0.07%
NTAP	A	0.1%	0.26%	0.1%
NUE	D	0.08%	0.22%	0.08%
NVDA	B	2.67%	0.21%	0.21%
NVR	C	0.06%	0.26%	0.06%
NWSA	A	0.06%	0.11%	0.06%
ODFL	D	0.01%	0.07%	0.01%
OMC	D	0.08%	0.17%	0.08%
ORCL	B	1.56%	0.44%	0.44%
ORLY	B	0.21%	0.15%	0.15%
OTIS	B	0.07%	0.08%	0.07%
PANW	B	0.23%	0.26%	0.23%
PARA	D	0.01%	0.18%	0.01%
PAYX	D	0.05%	0.24%	0.05%
PCAR	D	0.11%	0.12%	0.11%
PEP	D	0.58%	0.2%	0.2%
PFE	C	0.44%	0.26%	0.26%
PFG	D	0.01%	0.2%	0.01%
PG	C	0.75%	0.47%	0.47%
PGR	D	0.22%	0.27%	0.22%
PH	C	0.13%	0.07%	0.07%
PHM	D	0.13%	0.25%	0.13%
PKG	B	0.03%	0.06%	0.03%
PM	B	0.48%	0.42%	0.42%
PNR	D	0.09%	0.19%	0.09%
POOL	F	0.06%	0.1%	0.06%
PPG	D	0.04%	0.06%	0.04%
PRU	B	0.24%	0.21%	0.21%
PSA	B	0.03%	0.11%	0.03%
PSX	D	0.6%	0.47%	0.47%
PTC	C	0.05%	0.16%	0.05%
PWR	C	0.08%	0.45%	0.08%
QCOM	C	1.04%	0.31%	0.31%
RCL	A	0.07%	0.1%	0.07%
REGN	B	0.28%	0.28%	0.28%
RHI	F	0.03%	0.13%	0.03%
RL	B	0.04%	0.27%	0.04%
RMD	D	0.1%	0.12%	0.1%
ROL	B	0.05%	0.21%	0.05%
ROP	A	0.15%	0.03%	0.03%
ROST	B	0.1%	0.79%	0.1%
RSG	A	0.11%	0.2%	0.11%
SBAC	D	0.02%	0.06%	0.02%
SBUX	F	0.07%	0.46%	0.07%
SCHW	C	0.02%	0.28%	0.02%
SHW	D	0.18%	0.06%	0.06%
SJM	F	0.02%	0.21%	0.02%
SLB	D	0.07%	0.3%	0.07%
SMCI	C	0.33%	0.17%	0.17%
SNPS	B	0.2%	0.37%	0.2%
SOLV	F	0.03%	0.18%	0.03%
SPG	B	0.17%	0.07%	0.07%
SPGI	B	0.33%	0.04%	0.04%
STE	C	0.1%	0.12%	0.1%
STLD	C	0.02%	0.24%	0.02%
STZ	B	0.04%	0.26%	0.04%
SWK	F	0.02%	0.24%	0.02%
SYF	A	0.26%	0.71%	0.26%
SYK	B	0.25%	0.12%	0.12%
SYY	D	0.06%	0.7%	0.06%
T	A	0.72%	0.36%	0.36%
TAP	F	0.07%	0.2%	0.07%
TDG	C	0.17%	0.09%	0.09%
TER	B	0.04%	0.25%	0.04%
TFX	D	0.02%	0.05%	0.02%
TGT	D	0.52%	0.14%	0.14%
TJX	A	0.39%	0.89%	0.39%
TMUS	B	0.11%	0.37%	0.11%
TPR	B	0.01%	0.22%	0.01%
TRGP	A	0.06%	0.31%	0.06%
TROW	B	0.1%	0.1%	0.1%
TRV	D	0.19%	0.14%	0.14%
TSCO	C	0.07%	0.15%	0.07%
TSN	C	0.11%	0.4%	0.11%
TTWO	B	0.12%	0.56%	0.12%
TXN	B	0.24%	0.26%	0.24%
TXT	D	0.02%	0.16%	0.02%
TYL	A	0.06%	0.39%	0.06%
UAL	D	0.01%	0.22%	0.01%
UBER	B	0.28%	0.1%	0.1%
UDR	B	0.05%	0.12%	0.05%
UHS	B	0.06%	0.37%	0.06%
ULTA	F	0.05%	0.12%	0.05%
UNP	D	0.53%	0.08%	0.08%
UPS	D	0.2%	0.07%	0.07%
URI	C	0.09%	0.12%	0.09%
V	D	0.22%	0.04%	0.04%
VLO	C	0.38%	0.52%	0.38%
VMC	D	0.06%	0.16%	0.06%
VRSK	A	0.28%	0.05%	0.05%
VRSN	C	0.05%	0.32%	0.05%
VRTX	B	0.25%	0.29%	0.25%
VST	C	0.24%	0.15%	0.15%
VTRS	D	0.12%	0.21%	0.12%
VZ	B	0.57%	0.35%	0.35%
WAB	D	0.04%	0.15%	0.04%
WAT	F	0.04%	0.11%	0.04%
WBA	F	0.21%	0.52%	0.21%
WDC	B	0.15%	0.26%	0.15%
WELL	A	0.1%	0.1%	0.1%
WFC	C	0.94%	0.13%	0.13%
WM	A	0.09%	0.19%	0.09%
WMT	A	1.79%	0.87%	0.87%
WRB	C	0.02%	0.14%	0.02%
WRK	D	0.1%	0.07%	0.07%
WST	D	0.09%	0.05%	0.05%
WTW	B	0.04%	0.04%	0.04%
XOM	C	0.71%	0.78%	0.71%
XYL	C	0.07%	0.21%	0.07%
YUM	D	0.11%	0.5%	0.11%
ZTS	C	0.04%	0.24%	0.04%

MFUS Overweight 435 Positions Relative to SSPY

Symbol	Grade	Weight
ANF	B	0.36%
WSM	C	0.26%
THC	B	0.25%
LII	B	0.22%
WSO	C	0.21%
KKR	B	0.17%
SFM	A	0.15%
MUSA	B	0.15%
UTHR	A	0.15%
BAH	B	0.15%
CASY	B	0.14%
PLTR	B	0.12%
APO	A	0.12%
MRVL	C	0.12%
DELL	C	0.1%
AEO	F	0.1%
ALLY	B	0.1%
RPM	D	0.1%
GPK	D	0.1%
FTI	C	0.1%
GPS	C	0.09%
SNOW	D	0.09%
HRB	A	0.09%
TTC	B	0.09%
COIN	C	0.09%
LSTR	B	0.09%
AN	D	0.09%
WDAY	D	0.09%
ARES	D	0.09%
WCC	F	0.09%
EVR	A	0.09%
ITT	C	0.08%
USFD	B	0.08%
JXN	C	0.08%
LECO	D	0.08%
TOL	D	0.08%
RS	D	0.08%
WIRE	B	0.08%
LPLA	B	0.08%
DKS	B	0.08%
CACI	B	0.08%
GDDY	B	0.08%
CRS	B	0.08%
DASH	D	0.08%
ABG	C	0.07%
TMHC	C	0.07%
CMC	C	0.07%
SLM	C	0.07%
GNTX	D	0.07%
AYI	D	0.07%
UNM	C	0.07%
HCC	D	0.07%
OSK	C	0.07%
GPI	D	0.07%
EHC	B	0.07%
OC	C	0.07%
GGG	D	0.07%
MTH	D	0.07%
OGN	B	0.07%
SEE	D	0.07%
CW	B	0.07%
WU	D	0.07%
CRI	F	0.06%
SLG	B	0.06%
THO	D	0.06%
GLPI	B	0.06%
BCC	F	0.06%
LPX	C	0.06%
WEN	F	0.06%
X	D	0.06%
ERIE	C	0.06%
PK	C	0.06%
NSIT	B	0.06%
KD	B	0.06%
TEX	D	0.06%
FCN	C	0.06%
TXRH	B	0.06%
VEEV	F	0.06%
MANH	B	0.06%
UFPI	D	0.06%
HLI	A	0.06%
ATR	D	0.06%
URBN	C	0.06%
PBF	D	0.06%
SEIC	D	0.06%
ALSN	C	0.06%
PINS	B	0.06%
BWXT	B	0.06%
ENTG	B	0.05%
MTN	D	0.05%
PSTG	B	0.05%
TKR	D	0.05%
TPH	C	0.05%
ACM	D	0.05%
SKYW	B	0.05%
IBKR	B	0.05%
KTB	D	0.05%
INGR	D	0.05%
R	B	0.05%
SIG	D	0.05%
BERY	D	0.05%
MLI	C	0.05%
SANM	B	0.05%
FIX	D	0.05%
FL	C	0.05%
EQH	B	0.05%
CHE	D	0.05%
SMG	D	0.05%
CALM	B	0.05%
SCI	B	0.05%
TPX	D	0.05%
MMS	B	0.05%
ARW	F	0.05%
CCK	F	0.05%
CNX	C	0.05%
MSM	D	0.05%
BC	F	0.05%
FLEX	C	0.05%
GATX	B	0.04%
APLE	C	0.04%
NOV	B	0.04%
CUBE	B	0.04%
KSS	D	0.04%
FLO	D	0.04%
OMF	C	0.04%
WTM	B	0.04%
XRAY	F	0.04%
WHR	C	0.04%
BSY	D	0.04%
SON	F	0.04%
AR	D	0.04%
SLGN	D	0.04%
APG	B	0.04%
MAN	F	0.04%
NFG	D	0.04%
BDC	B	0.04%
ABM	B	0.04%
SAIA	B	0.04%
SNAP	B	0.04%
DCI	D	0.04%
AMKR	B	0.04%
VC	D	0.04%
AXTA	D	0.04%
COOP	C	0.04%
ATGE	A	0.04%
VVV	B	0.04%
CLH	B	0.04%
VSH	D	0.04%
SEM	B	0.04%
COLD	C	0.04%
MHO	C	0.04%
AMG	C	0.04%
HXL	F	0.04%
NBIX	C	0.04%
MAC	C	0.04%
M	C	0.04%
SUI	C	0.04%
CBT	D	0.04%
CRUS	A	0.04%
DDS	C	0.04%
OLN	F	0.04%
SRCL	B	0.04%
PAG	D	0.04%
LAMR	A	0.04%
LANC	C	0.04%
BTU	F	0.04%
TW	C	0.04%
ATI	C	0.04%
PR	C	0.04%
WPC	D	0.04%
POST	C	0.04%
AVT	C	0.04%
FCNCA	C	0.04%
LOPE	C	0.04%
RRC	D	0.04%
PVH	F	0.04%
NYT	A	0.04%
NXST	C	0.04%
EXP	D	0.04%
AWI	D	0.03%
JEF	A	0.03%
SBH	D	0.03%
NAVI	D	0.03%
AA	C	0.03%
ETRN	D	0.03%
CHDN	A	0.03%
MASI	C	0.03%
RUSHA	F	0.03%
TDS	B	0.03%
AVA	C	0.03%
AGNC	B	0.03%
TDC	D	0.03%
WH	C	0.03%
MORN	C	0.03%
VNO	B	0.03%
VNT	D	0.03%
MDU	B	0.03%
BRKR	F	0.03%
RPRX	F	0.03%
DOX	D	0.03%
ADNT	F	0.03%
WTS	D	0.03%
APP	B	0.03%
SLVM	B	0.03%
SHOO	B	0.03%
DBRG	D	0.03%
UHAL	D	0.03%
YELP	F	0.03%
NVT	D	0.03%
OKTA	C	0.03%
CNO	C	0.03%
GBX	D	0.03%
JHG	B	0.03%
KBR	C	0.03%
TRN	B	0.03%
PRI	B	0.03%
ELS	B	0.03%
ACA	D	0.03%
G	D	0.03%
HP	D	0.03%
ASO	F	0.03%
OI	F	0.03%
GVA	B	0.03%
EME	C	0.03%
JWN	B	0.03%
GT	F	0.03%
GEO	C	0.03%
BHF	D	0.03%
SKX	B	0.03%
BLD	D	0.03%
XPO	D	0.03%
FHI	C	0.03%
LEA	F	0.03%
AMH	A	0.03%
MTG	B	0.03%
TGNA	D	0.03%
HAE	D	0.03%
DK	D	0.03%
THG	C	0.03%
RGLD	C	0.03%
SITC	A	0.03%
DLB	D	0.03%
MUR	D	0.03%
GMS	F	0.03%
GNW	D	0.03%
MSA	B	0.03%
SM	D	0.03%
MOG.A	C	0.03%
HUBG	B	0.03%
FND	F	0.03%
KBH	B	0.03%
LNC	B	0.03%
PDCO	D	0.03%
ROKU	D	0.02%
UHAL	D	0.02%
DNOW	C	0.02%
TREX	F	0.02%
HELE	F	0.02%
PSN	B	0.02%
LUMN	F	0.02%
OSIS	C	0.02%
IGT	C	0.02%
DXC	C	0.02%
CVLT	A	0.02%
CRBG	C	0.02%
PTEN	D	0.02%
BMRN	C	0.02%
ANDE	D	0.02%
AIT	C	0.02%
DAN	F	0.02%
NYCB	F	0.02%
NTCT	D	0.02%
PFSI	A	0.02%
GES	F	0.02%
FAF	D	0.02%
CXW	D	0.02%
GHC	D	0.02%
EXEL	B	0.02%
PLXS	C	0.02%
PMT	D	0.02%
COKE	A	0.02%
SAM	C	0.02%
SXT	C	0.02%
JLL	B	0.02%
PNM	D	0.02%
LNW	B	0.02%
XHR	C	0.02%
GMED	A	0.02%
UNF	C	0.02%
PRIM	C	0.02%
STC	C	0.02%
CROX	B	0.02%
RGA	B	0.02%
PINC	F	0.02%
BKE	D	0.02%
KMPR	C	0.02%
ORA	C	0.02%
REZI	C	0.02%
AGCO	F	0.02%
TWLO	D	0.02%
PRG	C	0.02%
NSP	F	0.02%
BFAM	C	0.02%
FNF	C	0.02%
THS	C	0.02%
FLS	C	0.02%
COHR	B	0.02%
EPC	B	0.02%
GEF	F	0.02%
STWD	C	0.02%
FR	C	0.02%
WERN	D	0.02%
RLJ	D	0.02%
ODP	D	0.02%
CG	C	0.02%
DRH	D	0.02%
HOG	D	0.02%
APAM	C	0.02%
MC	C	0.02%
OHI	A	0.02%
LZB	B	0.02%
NEU	F	0.02%
XRX	F	0.02%
AIR	A	0.02%
RYN	D	0.02%
CC	F	0.02%
SEB	D	0.02%
Z	C	0.02%
WMS	D	0.02%
SHO	C	0.02%
OMI	F	0.02%
SSD	F	0.02%
AROC	C	0.02%
RLI	D	0.02%
VIRT	C	0.02%
KNX	C	0.01%
TDOC	F	0.01%
WOLF	F	0.01%
FIZZ	B	0.01%
SCHL	D	0.01%
JAZZ	F	0.01%
VSTO	A	0.01%
ECPG	D	0.01%
WAFD	C	0.01%
GXO	D	0.01%
SITE	F	0.01%
UVV	D	0.01%
JBLU	C	0.01%
IART	C	0.01%
SCL	C	0.01%
HE	F	0.01%
WGO	F	0.01%
MLKN	C	0.01%
JBGS	B	0.01%
SOFI	D	0.01%
SVC	D	0.01%
RRR	B	0.01%
CACC	C	0.01%
JELD	D	0.01%
ACI	F	0.01%
PECO	C	0.01%
SWN	D	0.01%
STAG	B	0.01%
IONS	B	0.01%
WTFC	C	0.01%
ESAB	D	0.01%
AMED	F	0.01%
CSGS	F	0.01%
ZION	C	0.01%
DEI	C	0.01%
SIGI	F	0.01%
DBX	D	0.01%
HBI	C	0.01%
CENTA	F	0.01%
SPB	C	0.01%
WAL	C	0.01%
FELE	D	0.01%
KALU	D	0.01%
MKSI	B	0.01%
JJSF	B	0.01%
CR	B	0.01%
ARCB	D	0.01%
WOR	F	0.01%
SF	A	0.01%
KN	B	0.01%
BECN	D	0.01%
AMWD	F	0.01%
NNI	C	0.01%
U	F	0.01%
ADTN	D	0.01%
ELAN	C	0.01%
SATS	B	0.01%
LAUR	C	0.01%
VFC	C	0.01%
SYNA	F	0.01%
LADR	A	0.01%
TTMI	B	0.01%
SPR	B	0.01%
PSMT	C	0.01%
ESNT	B	0.01%
CWEN	C	0.01%
DINO	D	0.01%
BJ	B	0.01%
SAH	D	0.01%
CNM	D	0.01%
AMN	F	0.01%
SCS	B	0.01%
BHE	B	0.01%
H	B	0.01%
GOLF	C	0.01%
STRA	C	0.01%
SNDR	B	0.01%
TTEK	C	0.01%
RIVN	C	0.01%
KEX	B	0.01%
WWD	C	0.01%
CBRL	F	0.01%
HNI	C	0.01%
DORM	B	0.01%
MATX	A	0.01%
LXP	B	0.01%
TNET	F	0.01%
EGP	B	0.01%
IOSP	C	0.01%
GWRE	A	0.01%
CVI	F	0.01%
EWBC	C	0.01%
APOG	C	0.01%
LEG	F	0.01%
CSL	C	0.01%
LBRDK	C	0.01%
MCY	C	0.01%
SCCO	D	0.0%
NOMD	D	0.0%
NWL	F	0.0%

MFUS Underweight 163 Positions Relative to SSPY

Symbol	Grade	Weight
BG	B	-0.43%
KVUE	F	-0.41%
GRMN	B	-0.39%
AWK	B	-0.38%
J	D	-0.37%
NI	B	-0.36%
ATO	B	-0.35%
APTV	F	-0.35%
EL	F	-0.33%
MRNA	D	-0.33%
FCX	D	-0.31%
HAL	D	-0.31%
FSLR	C	-0.31%
NEE	D	-0.31%
GOOG	B	-0.3%
WMB	A	-0.3%
HAS	C	-0.3%
MS	B	-0.29%
PEG	B	-0.29%
ADI	B	-0.28%
UNH	C	-0.28%
CNP	A	-0.28%
HUM	C	-0.28%
ETR	C	-0.27%
D	D	-0.27%
EIX	D	-0.27%
OKE	B	-0.27%
AEP	C	-0.27%
TSLA	C	-0.27%
FE	D	-0.26%
ED	D	-0.26%
NXPI	B	-0.25%
CTLT	B	-0.25%
DTE	C	-0.25%
RJF	C	-0.25%
STX	B	-0.24%
ENPH	F	-0.24%
QRVO	B	-0.23%
DAL	D	-0.23%
SWKS	B	-0.23%
CNC	F	-0.23%
SNA	D	-0.23%
HON	B	-0.22%
DOV	B	-0.22%
TEL	B	-0.21%
CI	D	-0.2%
ON	F	-0.2%
DIS	D	-0.19%
PAYC	F	-0.18%
KEYS	D	-0.18%
DAY	F	-0.17%
ACGL	B	-0.17%
LULU	F	-0.17%
CB	C	-0.16%
ARE	C	-0.16%
LUV	B	-0.16%
WBD	D	-0.16%
AAL	F	-0.15%
EG	B	-0.15%
BA	D	-0.15%
AMCR	C	-0.14%
WY	F	-0.14%
CINF	C	-0.14%
MCHP	C	-0.14%
BAC	A	-0.14%
DVN	C	-0.13%
CTRA	D	-0.13%
EQT	D	-0.13%
DE	D	-0.13%
ESS	B	-0.13%
GL	C	-0.13%
ZBRA	C	-0.13%
KMX	B	-0.13%
A	D	-0.12%
MAA	B	-0.12%
AME	D	-0.12%
ETSY	F	-0.12%
FOX	A	-0.12%
EQR	A	-0.12%
LKQ	F	-0.12%
TMO	D	-0.12%
AVB	A	-0.12%
TECH	D	-0.12%
IQV	F	-0.11%
ZBH	D	-0.11%
PODD	C	-0.11%
STT	C	-0.11%
VTR	A	-0.1%
RTX	D	-0.1%
NTRS	C	-0.1%
CRL	F	-0.1%
ABNB	C	-0.1%
ILMN	F	-0.1%
NWS	A	-0.1%
FDX	A	-0.09%
DHR	D	-0.09%
JCI	C	-0.09%
DXCM	F	-0.09%
SO	B	-0.09%
BLK	B	-0.09%
TT	B	-0.09%
DOC	B	-0.09%
EPAM	D	-0.09%
FANG	C	-0.08%
WEC	D	-0.08%
FMC	D	-0.08%
AEE	D	-0.08%
ES	F	-0.08%
CMS	D	-0.08%
LYV	C	-0.08%
LNT	C	-0.08%
AXON	C	-0.08%
PPL	D	-0.08%
XEL	D	-0.08%
PNW	C	-0.08%
DUK	D	-0.08%
SRE	B	-0.08%
PCG	D	-0.08%
MGM	B	-0.07%
VICI	C	-0.07%
KIM	B	-0.07%
DOW	D	-0.07%
FRT	C	-0.07%
REG	B	-0.07%
ALLE	C	-0.07%
O	D	-0.07%
BIO	F	-0.07%
NCLH	B	-0.07%
HES	D	-0.07%
NSC	F	-0.07%
EOG	C	-0.07%
OXY	C	-0.07%
CF	D	-0.07%
ABT	D	-0.06%
APD	D	-0.06%
PLD	C	-0.06%
PYPL	F	-0.06%
CCI	C	-0.06%
IFF	B	-0.06%
MDT	D	-0.06%
WYNN	D	-0.06%
CZR	C	-0.06%
EW	B	-0.06%
AMT	B	-0.06%
LIN	B	-0.05%
USB	C	-0.05%
KEY	C	-0.05%
AXP	C	-0.05%
HBAN	C	-0.05%
RF	C	-0.05%
TFC	C	-0.05%
PNC	C	-0.05%
MTB	B	-0.05%
ECL	B	-0.05%
CBRE	B	-0.04%
CSGP	D	-0.04%
VLTO	C	-0.04%
ALB	F	-0.04%
CBOE	D	-0.04%
FTV	D	-0.03%
ROK	D	-0.03%
TRMB	C	-0.03%
TDY	D	-0.03%