MFUS vs. VALQ ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to American Century STOXX U.S. Quality Value ETF (VALQ)

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

VALQ

American Century STOXX U.S. Quality Value ETF

VALQ Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the iSTOXX® American Century USA Quality Value Index (the underlying index). Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the underlying index. The underlying index is designed to select securities of large- and mid-capitalization companies that are undervalued or have sustainable income.

Grade (RS Rating)

Last Trade

$63.92

Average Daily Volume

6,261

Number of Holdings ^*

241

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	VALQ
30 Days	2.73%	3.97%
60 Days	3.41%	4.17%
90 Days	5.38%	6.47%
12 Months	32.49%	28.71%

189 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in VALQ	Overlap
AAPL	C	0.97%	2.66%	0.97%
ABBV	D	1.35%	1.67%	1.35%
ADBE	C	0.04%	0.08%	0.04%
ADSK	A	0.09%	0.21%	0.09%
AIZ	A	0.09%	0.1%	0.09%
AKAM	D	0.02%	0.08%	0.02%
ALL	A	0.26%	0.09%	0.09%
ALLY	C	0.05%	0.07%	0.05%
ALSN	B	0.11%	0.14%	0.11%
AMAT	F	0.5%	0.07%	0.07%
AMG	B	0.06%	0.09%	0.06%
AMKR	D	0.03%	0.13%	0.03%
AMZN	C	1.65%	2.15%	1.65%
AN	C	0.06%	0.08%	0.06%
ANF	C	0.24%	0.14%	0.14%
AOS	F	0.08%	0.07%	0.07%
APH	A	0.12%	1.74%	0.12%
APP	B	0.13%	0.31%	0.13%
ARW	D	0.04%	0.32%	0.04%
AVGO	D	1.54%	0.08%	0.08%
AXTA	A	0.02%	0.09%	0.02%
AYI	B	0.1%	0.49%	0.1%
BBY	D	0.2%	1.07%	0.2%
BERY	B	0.06%	0.09%	0.06%
BK	A	0.18%	0.1%	0.1%
BKNG	A	0.42%	0.11%	0.11%
BMY	B	0.41%	0.82%	0.41%
BRK.A	B	2.44%	0.09%	0.09%
BWA	D	0.01%	0.08%	0.01%
CACI	D	0.08%	0.08%	0.08%
CAG	D	0.04%	0.08%	0.04%
CAH	B	0.27%	0.84%	0.27%
CAT	B	0.2%	0.2%	0.2%
CBT	C	0.05%	0.41%	0.05%
CCK	C	0.06%	0.09%	0.06%
CHTR	C	0.3%	0.09%	0.09%
CI	F	0.13%	0.66%	0.13%
CL	D	0.36%	1.77%	0.36%
CLX	B	0.13%	1.58%	0.13%
CMC	B	0.06%	0.09%	0.06%
CMCSA	B	0.16%	2.3%	0.16%
CNC	D	0.04%	0.06%	0.04%
COKE	C	0.03%	0.08%	0.03%
COR	B	0.17%	0.09%	0.09%
CPB	D	0.04%	0.07%	0.04%
CR	A	0.01%	0.18%	0.01%
CROX	D	0.01%	0.06%	0.01%
CRUS	D	0.04%	0.18%	0.04%
CSCO	B	0.68%	0.72%	0.68%
CSL	C	0.02%	0.09%	0.02%
CTAS	B	0.19%	1.87%	0.19%
DCI	B	0.04%	0.6%	0.04%
DDS	B	0.03%	0.15%	0.03%
DGX	A	0.09%	0.09%	0.09%
DKS	C	0.08%	0.12%	0.08%
DLB	B	0.02%	0.1%	0.02%
DOX	D	0.03%	0.67%	0.03%
DPZ	C	0.13%	0.16%	0.13%
DVA	B	0.17%	0.2%	0.17%
EA	A	0.19%	0.09%	0.09%
EBAY	D	0.36%	1.85%	0.36%
ECL	D	0.08%	0.44%	0.08%
EHC	B	0.09%	0.09%	0.09%
ELV	F	0.15%	0.06%	0.06%
EME	C	0.05%	0.14%	0.05%
EVR	B	0.13%	0.1%	0.1%
EXEL	B	0.05%	0.14%	0.05%
EXPD	D	0.11%	0.08%	0.08%
FFIV	B	0.06%	0.52%	0.06%
FICO	B	0.25%	0.25%	0.25%
FIS	C	0.07%	0.09%	0.07%
FLO	D	0.04%	0.23%	0.04%
FOXA	B	0.11%	0.09%	0.09%
FTNT	C	0.07%	0.11%	0.07%
G	B	0.05%	0.39%	0.05%
GAP	C	0.05%	0.14%	0.05%
GDDY	A	0.12%	0.1%	0.1%
GILD	C	0.84%	0.11%	0.11%
GIS	D	0.17%	0.08%	0.08%
GM	B	0.38%	0.09%	0.09%
GWW	B	0.22%	0.32%	0.22%
HD	A	0.62%	1.95%	0.62%
HIG	B	0.06%	0.09%	0.06%
HPE	B	0.11%	0.09%	0.09%
HPQ	B	0.29%	1.74%	0.29%
HRB	D	0.07%	0.52%	0.07%
HUBB	B	0.03%	0.42%	0.03%
IBM	C	1.09%	2.11%	1.09%
IDXX	F	0.05%	0.13%	0.05%
IGT	F	0.01%	0.07%	0.01%
INCY	C	0.01%	0.09%	0.01%
INGR	B	0.07%	1.87%	0.07%
ITW	B	0.1%	0.91%	0.1%
IVZ	B	0.03%	0.63%	0.03%
JBL	B	0.03%	0.29%	0.03%
JEF	A	0.03%	0.2%	0.03%
JKHY	D	0.1%	0.09%	0.09%
JLL	D	0.06%	1.43%	0.06%
JNJ	D	1.2%	0.08%	0.08%
K	A	0.15%	0.09%	0.09%
KBH	D	0.03%	0.08%	0.03%
KLAC	D	0.22%	0.06%	0.06%
KMB	D	0.17%	2.0%	0.17%
KO	D	1.01%	1.69%	1.01%
KR	B	0.37%	0.22%	0.22%
L	A	0.06%	0.09%	0.06%
LAMR	D	0.05%	0.17%	0.05%
LDOS	C	0.11%	0.09%	0.09%
LECO	B	0.06%	0.85%	0.06%
LEN	D	0.06%	0.17%	0.06%
LMT	D	0.75%	0.09%	0.09%
LRCX	F	0.16%	0.07%	0.07%
LYB	F	0.15%	1.15%	0.15%
MANH	D	0.03%	0.09%	0.03%
MAS	D	0.06%	1.19%	0.06%
MCK	B	0.64%	0.09%	0.09%
META	D	2.32%	0.1%	0.1%
MHK	D	0.01%	0.07%	0.01%
MLI	C	0.09%	0.11%	0.09%
MMM	D	0.58%	0.1%	0.1%
MMS	F	0.05%	0.07%	0.05%
MO	A	0.74%	0.57%	0.57%
MPC	D	0.35%	0.22%	0.22%
MSI	B	0.2%	2.25%	0.2%
MSM	C	0.06%	0.08%	0.06%
MTD	D	0.08%	0.83%	0.08%
MTG	C	0.02%	0.42%	0.02%
NEU	C	0.02%	0.23%	0.02%
NFLX	A	0.55%	2.12%	0.55%
NSIT	F	0.05%	0.18%	0.05%
NTAP	C	0.1%	0.43%	0.1%
NTRS	A	0.03%	0.1%	0.03%
NVR	D	0.09%	0.08%	0.08%
NXST	C	0.05%	0.08%	0.05%
NYT	C	0.03%	0.51%	0.03%
OC	A	0.02%	1.16%	0.02%
OMC	C	0.06%	0.09%	0.06%
OMF	A	0.03%	0.09%	0.03%
OTIS	C	0.07%	1.04%	0.07%
PARA	C	0.01%	0.08%	0.01%
PG	A	1.04%	1.11%	1.04%
PGR	A	0.59%	0.09%	0.09%
PH	A	0.14%	0.26%	0.14%
PHM	D	0.1%	0.08%	0.08%
PKG	A	0.1%	0.1%	0.1%
POST	C	0.05%	0.08%	0.05%
PPG	F	0.04%	0.15%	0.04%
PVH	C	0.02%	0.08%	0.02%
PYPL	B	0.12%	0.8%	0.12%
QCOM	F	0.73%	0.49%	0.49%
QRVO	F	0.01%	0.05%	0.01%
RGA	A	0.06%	0.09%	0.06%
RHI	B	0.02%	0.1%	0.02%
RL	B	0.03%	0.1%	0.03%
RMD	C	0.17%	0.09%	0.09%
SAIC	F	0.01%	0.08%	0.01%
SEIC	B	0.08%	0.76%	0.08%
SFM	A	0.25%	1.04%	0.25%
SHW	A	0.21%	0.32%	0.21%
SKX	D	0.02%	0.07%	0.02%
SM	B	0.03%	0.31%	0.03%
SPG	B	0.17%	1.81%	0.17%
SSNC	B	0.02%	0.08%	0.02%
STLD	B	0.04%	0.1%	0.04%
SYF	B	0.31%	0.12%	0.12%
SYY	B	0.12%	0.15%	0.12%
TAP	C	0.08%	0.1%	0.08%
TER	D	0.03%	0.06%	0.03%
TGT	F	0.59%	1.18%	0.59%
THC	D	0.26%	0.09%	0.09%
TJX	A	0.38%	0.17%	0.17%
TKR	D	0.04%	0.07%	0.04%
TMHC	B	0.09%	0.09%	0.09%
TOL	B	0.06%	1.07%	0.06%
TPR	B	0.01%	0.88%	0.01%
TROW	B	0.09%	0.09%	0.09%
TSN	B	0.18%	0.08%	0.08%
TXN	C	0.28%	1.44%	0.28%
TXRH	C	0.06%	0.1%	0.06%
UBER	D	0.2%	1.17%	0.2%
UHS	D	0.06%	0.19%	0.06%
UNM	A	0.04%	0.11%	0.04%
USFD	A	0.05%	0.1%	0.05%
UTHR	C	0.18%	0.13%	0.13%
VLO	C	0.16%	0.08%	0.08%
VLTO	D	0.04%	1.6%	0.04%
VRSN	F	0.04%	0.09%	0.04%
WMT	A	1.77%	2.28%	1.77%
WSM	B	0.24%	0.4%	0.24%

MFUS Overweight 626 Positions Relative to VALQ

Symbol	Grade	Weight
LLY	F	2.3%
NVDA	C	1.9%
ORCL	B	1.56%
COST	B	1.36%
VZ	C	1.03%
WFC	A	0.99%
JPM	A	0.99%
AMGN	D	0.92%
PM	B	0.89%
MRK	F	0.83%
UNH	C	0.81%
T	A	0.75%
PEP	F	0.71%
C	A	0.7%
CVS	D	0.67%
GE	D	0.56%
PFE	D	0.55%
MCD	D	0.52%
UNP	C	0.5%
BAC	A	0.45%
XOM	B	0.43%
TMUS	B	0.43%
GS	A	0.4%
CVX	A	0.39%
LOW	D	0.35%
REGN	F	0.35%
NOC	D	0.35%
NOW	A	0.35%
AIG	B	0.34%
MET	A	0.32%
V	A	0.31%
ICE	C	0.29%
ISRG	A	0.29%
SPGI	C	0.29%
COF	B	0.29%
MA	C	0.28%
AZO	C	0.28%
WM	A	0.27%
TMO	F	0.27%
LHX	C	0.26%
VST	B	0.26%
AON	A	0.25%
PANW	C	0.25%
DHR	F	0.24%
PLTR	B	0.24%
HCA	F	0.24%
UPS	C	0.24%
ACN	C	0.24%
AXP	A	0.23%
NEE	D	0.23%
ADM	D	0.23%
PRU	A	0.23%
PSX	C	0.23%
GD	F	0.23%
LII	A	0.22%
AFL	B	0.22%
RTX	C	0.22%
MDLZ	F	0.22%
MS	A	0.22%
BSX	B	0.21%
VRTX	F	0.21%
ORLY	B	0.2%
MMC	B	0.2%
GLW	B	0.2%
TRV	B	0.2%
CMG	B	0.2%
FI	A	0.19%
INTC	D	0.19%
HWM	A	0.18%
WSO	A	0.18%
AMP	A	0.18%
BLK	C	0.18%
NEM	D	0.17%
DECK	A	0.17%
CASY	A	0.17%
BR	A	0.17%
MU	D	0.16%
AJG	B	0.16%
CB	C	0.16%
MUSA	A	0.16%
VRSK	A	0.16%
TDG	D	0.15%
VTRS	A	0.15%
F	C	0.15%
KKR	A	0.15%
CHRW	C	0.14%
BAH	F	0.14%
AMT	D	0.14%
ANET	C	0.14%
CMI	A	0.14%
CME	A	0.14%
KHC	F	0.14%
MCO	B	0.14%
IT	C	0.14%
FAST	B	0.13%
SO	D	0.13%
BX	A	0.13%
RPM	A	0.13%
YUM	B	0.13%
RSG	A	0.13%
DUK	C	0.13%
PNC	B	0.12%
BRO	B	0.12%
WELL	A	0.12%
IRM	D	0.12%
JNPR	F	0.12%
PWR	A	0.12%
RCL	A	0.11%
XYL	D	0.11%
CW	B	0.11%
WTW	B	0.11%
WMB	A	0.11%
CSX	B	0.11%
USB	A	0.11%
TSCO	D	0.11%
DASH	A	0.11%
WBA	F	0.11%
CEG	D	0.11%
ADP	B	0.11%
COIN	C	0.11%
EXR	D	0.11%
KMI	A	0.11%
BDX	F	0.11%
BWXT	B	0.11%
CRS	A	0.11%
TRGP	B	0.11%
HLT	A	0.1%
JXN	C	0.1%
DD	D	0.1%
OKE	A	0.1%
DFS	B	0.1%
GEN	B	0.1%
EFX	F	0.1%
LSTR	D	0.09%
IEX	B	0.09%
WCC	B	0.09%
TFC	A	0.09%
EMR	A	0.09%
ARES	A	0.09%
IR	B	0.09%
URI	B	0.09%
GPI	A	0.09%
AVY	D	0.09%
CALM	A	0.09%
IP	B	0.09%
DLR	B	0.09%
SBUX	A	0.09%
PSA	D	0.09%
NRG	B	0.08%
GEO	B	0.08%
TTWO	A	0.08%
LPX	B	0.08%
ABG	B	0.08%
SMCI	F	0.08%
HCC	B	0.08%
ATR	B	0.08%
WDC	D	0.08%
BKR	B	0.08%
TYL	B	0.08%
AEP	D	0.08%
GPK	C	0.08%
NUE	C	0.08%
SLG	B	0.08%
EQH	B	0.08%
DG	F	0.08%
CPRT	A	0.08%
SRE	A	0.08%
ITT	A	0.08%
HLI	B	0.08%
FIX	A	0.07%
UFPI	B	0.07%
SQ	B	0.07%
JCI	C	0.07%
EXP	A	0.07%
BCC	B	0.07%
EXC	C	0.07%
LPLA	A	0.07%
SCI	B	0.07%
NSC	B	0.07%
COP	C	0.07%
GLPI	C	0.07%
SKYW	B	0.07%
CCI	D	0.07%
MLM	B	0.07%
POOL	C	0.07%
AEO	F	0.07%
CHD	B	0.07%
R	B	0.07%
KDP	D	0.07%
VNO	B	0.07%
STE	F	0.07%
BALL	D	0.07%
THO	B	0.07%
MNST	C	0.07%
D	C	0.07%
GEHC	F	0.07%
CNX	A	0.07%
SEE	C	0.06%
NKE	D	0.06%
O	D	0.06%
GNRC	B	0.06%
TPH	D	0.06%
KTB	B	0.06%
HBI	B	0.06%
ED	D	0.06%
MKC	D	0.06%
MPWR	F	0.06%
BFH	B	0.06%
CHE	D	0.06%
ATGE	B	0.06%
VIRT	B	0.06%
CPT	B	0.06%
TW	A	0.06%
MTH	D	0.06%
SLM	A	0.06%
PK	B	0.06%
WU	D	0.06%
BIIB	F	0.06%
PEG	A	0.06%
DHI	D	0.06%
TTC	D	0.06%
ROP	B	0.06%
FCNCA	A	0.06%
ALNY	D	0.06%
IBKR	A	0.06%
MSCI	C	0.06%
ROL	B	0.06%
URBN	C	0.05%
CNO	A	0.05%
FANG	D	0.05%
NFG	A	0.05%
ERIE	D	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%
A	D	0.05%
MOG.A	B	0.05%
ETR	B	0.05%
TGNA	B	0.05%
MTN	C	0.05%
SUI	D	0.05%
HOOD	B	0.05%
CARR	D	0.05%
CBRE	B	0.05%
FLEX	A	0.05%
NDAQ	A	0.05%
SLGN	A	0.05%
TEX	D	0.05%
COOP	B	0.05%
SCHW	B	0.05%
ZTS	D	0.05%
AR	B	0.05%
KD	B	0.05%
WAT	B	0.05%
WEN	D	0.05%
EIX	B	0.05%
ANSS	B	0.05%
HSY	F	0.05%
LUMN	C	0.05%
GVA	A	0.05%
WAB	B	0.05%
BC	C	0.05%
FCN	D	0.05%
BTU	B	0.05%
STZ	D	0.05%
XPO	B	0.04%
SON	D	0.04%
AVT	C	0.04%
ACM	A	0.04%
FL	F	0.04%
JWN	C	0.04%
EQR	B	0.04%
AWI	A	0.04%
ESS	B	0.04%
AMH	D	0.04%
CXW	B	0.04%
CPNG	D	0.04%
INVH	D	0.04%
CLH	B	0.04%
BDC	B	0.04%
SEM	B	0.04%
WH	B	0.04%
PPL	B	0.04%
PSTG	D	0.04%
RUSHA	C	0.04%
ELS	C	0.04%
PAYX	C	0.04%
SMG	D	0.04%
OLN	D	0.04%
AGNC	D	0.04%
CTVA	C	0.04%
CFG	B	0.04%
MTB	A	0.04%
BLDR	D	0.04%
FDS	B	0.04%
EMN	D	0.04%
SLVM	B	0.04%
TRN	C	0.04%
SANM	B	0.04%
OGN	D	0.04%
VTR	C	0.04%
CVLT	B	0.04%
BHF	B	0.04%
IPG	D	0.04%
PTC	A	0.04%
NBIX	C	0.04%
NWSA	B	0.04%
CUBE	D	0.04%
GBX	A	0.04%
SJM	D	0.04%
WTM	A	0.04%
BAX	D	0.04%
ZBRA	B	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%
FITB	A	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%
GATX	A	0.04%
NDSN	B	0.04%
DOV	A	0.04%
ABM	B	0.04%
RS	B	0.04%
WST	C	0.04%
MAR	B	0.04%
STC	B	0.03%
HAE	C	0.03%
WRB	A	0.03%
SBAC	D	0.03%
GEF	A	0.03%
DRH	B	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%
KEY	B	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%
DRI	B	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%
CDW	F	0.03%
MRO	B	0.03%
BURL	A	0.03%
UDR	B	0.03%
SHOO	D	0.03%
DELL	C	0.03%
DBRG	F	0.03%
CG	A	0.03%
PRG	C	0.03%
RPRX	D	0.03%
LW	C	0.03%
COLD	D	0.03%
PLXS	B	0.03%
APLE	B	0.03%
IFF	D	0.03%
X	C	0.03%
AVB	B	0.03%
MATX	C	0.03%
BLD	D	0.03%
GMS	B	0.03%
CMS	C	0.03%
HOLX	D	0.03%
AVA	A	0.03%
GGG	B	0.03%
BKU	A	0.03%
MC	C	0.03%
RLI	B	0.03%
FE	C	0.03%
COHR	B	0.03%
CDP	C	0.03%
HBAN	A	0.03%
TPX	B	0.03%
CPAY	A	0.03%
ES	D	0.03%
GNW	A	0.03%
MORN	B	0.03%
ULTA	F	0.03%
BJ	A	0.03%
OSK	B	0.03%
HSIC	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%
SF	B	0.02%
GT	C	0.02%
BRKR	D	0.02%
BHE	B	0.02%
EVRG	A	0.02%
KIM	A	0.02%
LAUR	A	0.02%
VFC	C	0.02%
WAL	B	0.02%
UAL	A	0.02%
WBS	A	0.02%
RF	A	0.02%
BEN	C	0.02%
PHIN	A	0.02%
JBLU	F	0.02%
NSP	D	0.02%
ATO	A	0.02%
GME	C	0.02%
ZION	B	0.02%
ODFL	B	0.02%
DOW	F	0.02%
BXP	D	0.02%
SNV	B	0.02%
ANDE	D	0.02%
APG	B	0.02%
HP	B	0.02%
HST	C	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%
HRL	D	0.02%
DTE	C	0.02%
NAVI	C	0.02%
WKC	D	0.02%
WMS	D	0.02%
PNR	A	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%
MAA	B	0.02%
AGCO	D	0.02%
OSIS	B	0.02%
PFSI	D	0.02%
NWL	B	0.02%
CC	C	0.02%
LNT	A	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%
RLJ	C	0.02%
THS	D	0.02%
DORM	B	0.02%
NTCT	C	0.02%
XHR	B	0.02%
CTLT	B	0.02%
GWRE	A	0.02%
MDU	D	0.02%
MKTX	D	0.02%
SBH	C	0.02%
PBF	D	0.02%
PDCO	D	0.02%
CINF	A	0.02%
PAG	B	0.02%
NI	A	0.02%
HII	D	0.02%
VSCO	B	0.02%
ADNT	F	0.02%
CE	F	0.02%
EWBC	A	0.02%
HOG	D	0.02%
MCY	A	0.02%
AIR	B	0.02%
VSTO	A	0.02%
BFAM	D	0.02%
FAF	A	0.02%
JBHT	C	0.02%
GHC	C	0.02%
TFX	F	0.02%
MSA	D	0.02%
ORA	B	0.02%
DLTR	F	0.02%
RYN	D	0.02%
HXL	D	0.02%
CCL	B	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%
MLKN	D	0.01%
RVTY	F	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%
PNW	B	0.01%
SR	A	0.01%
CNS	B	0.01%
SSB	B	0.01%
ESI	A	0.01%
KALU	C	0.01%
MOS	F	0.01%
SWX	B	0.01%
CVI	F	0.01%
CENTA	C	0.01%
OMI	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%
PFG	D	0.01%
LEA	D	0.01%
WAFD	B	0.01%
DY	D	0.01%
AES	F	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%
BBWI	D	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%
ALGN	D	0.01%
ADC	B	0.01%
PTEN	C	0.01%
SLB	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 52 Positions Relative to VALQ

Symbol	Grade	Weight
ETN	A	-1.88%
GPC	D	-0.92%
CTSH	B	-0.77%
NVT	B	-0.69%
GOOGL	C	-0.63%
ALLE	D	-0.55%
REYN	D	-0.46%
DBX	B	-0.38%
FLS	B	-0.37%
ZM	B	-0.36%
AZEK	A	-0.34%
DOCU	A	-0.33%
AMCR	D	-0.31%
NOVT	D	-0.28%
QLYS	C	-0.27%
MSFT	F	-0.26%
TT	A	-0.26%
BRBR	A	-0.21%
COLM	B	-0.2%
ORI	A	-0.19%
ROST	C	-0.15%
LFUS	F	-0.14%
TWLO	A	-0.14%
WING	D	-0.13%
EXPE	B	-0.13%
PEGA	A	-0.12%
TRMB	B	-0.11%
SNA	A	-0.11%
AIT	A	-0.11%
GL	B	-0.11%
AXS	A	-0.11%
STT	A	-0.1%
VMI	B	-0.1%
EPAM	C	-0.1%
BYD	C	-0.1%
FIZZ	C	-0.09%
JAZZ	B	-0.09%
INFA	D	-0.09%
BMI	B	-0.09%
FDX	B	-0.09%
SWKS	F	-0.09%
KEYS	A	-0.09%
WTS	B	-0.09%
ALKS	B	-0.09%
TXT	D	-0.08%
MAT	D	-0.08%
EG	C	-0.08%
EEFT	B	-0.08%
ADTN	A	-0.08%
IQV	D	-0.07%
MEDP	D	-0.07%
SWK	D	-0.07%