ONEQ vs. IWS ETF Comparison

Comparison of Fidelity Nasdaq Composite Index Tracking Stock (ONEQ) to iShares Russell Mid-cap Value ETF (IWS)

ONEQ

Fidelity Nasdaq Composite Index Tracking Stock

ONEQ Description

ONEQ tracks only Nasdaq-listed companies and ignores those trading on the NYSE or other exchanges. The funds underlying index comprises all domestic and international companies listed in Nasdaq. ONEQs portfolio may favor technology firms, which in the past have dominated the Nasdaq market. This is at the expense of energy, industrials, financials and other industries. Its heavy weightings to large-cap firms may increase single-stock blowup risk. Much like the market it aims to track, ONEQ is essentially a growth play, carrying elevated P/E and P/B ratios and paying smaller dividends. This exposure has translated to higher market risk. ONEQ uses a sampling strategy to track its index, which is reconstituted and rebalanced daily.

Grade (RS Rating)

Last Trade

$74.95

Average Daily Volume

238,552

Number of Holdings ^*

830

* may have additional holdings in another (foreign) market

IWS

iShares Russell Mid-cap Value ETF

IWS Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell Midcap Value Index (the "underlying index"), which measures the performance of the mid-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$138.56

Average Daily Volume

277,482

Number of Holdings ^*

707

* may have additional holdings in another (foreign) market

Performance

Period	ONEQ	IWS
30 Days	4.10%	5.12%
60 Days	5.77%	5.58%
90 Days	6.51%	7.47%
12 Months	33.93%	31.67%

192 Overlapping Holdings

Symbol	Grade	Weight in ONEQ	Weight in IWS	Overlap
AAL	B	0.03%	0.1%	0.03%
ACGL	D	0.13%	0.4%	0.13%
ACHC	F	0.01%	0.04%	0.01%
AFRM	A	0.05%	0.14%	0.05%
AGNC	D	0.02%	0.08%	0.02%
AKAM	D	0.04%	0.14%	0.04%
ALGM	D	0.02%	0.03%	0.02%
ALGN	F	0.06%	0.08%	0.06%
ALNY	D	0.1%	0.04%	0.04%
AMED	F	0.01%	0.03%	0.01%
AMKR	D	0.02%	0.03%	0.02%
ANSS	B	0.09%	0.32%	0.09%
APA	D	0.03%	0.09%	0.03%
AVT	C	0.01%	0.05%	0.01%
AZTA	D	0.01%	0.02%	0.01%
BHF	B	0.01%	0.03%	0.01%
BIIB	F	0.08%	0.26%	0.08%
BKR	B	0.14%	0.47%	0.14%
BMRN	D	0.04%	0.13%	0.04%
BOKF	B	0.03%	0.03%	0.03%
BPOP	B	0.02%	0.07%	0.02%
BRKR	D	0.03%	0.02%	0.02%
CACC	D	0.02%	0.01%	0.01%
CAR	C	0.01%	0.01%	0.01%
CASY	A	0.05%	0.13%	0.05%
CBSH	A	0.03%	0.09%	0.03%
CDW	F	0.08%	0.13%	0.08%
CG	A	0.06%	0.12%	0.06%
CGNX	C	0.02%	0.07%	0.02%
CHRD	D	0.03%	0.09%	0.03%
CHRW	C	0.04%	0.14%	0.04%
CHTR	C	0.19%	0.4%	0.19%
CINF	A	0.07%	0.26%	0.07%
CNXC	F	0.01%	0.02%	0.01%
COIN	C	0.21%	0.11%	0.11%
COKE	C	0.03%	0.08%	0.03%
COLB	A	0.03%	0.07%	0.03%
COLM	B	0.02%	0.03%	0.02%
CPB	D	0.04%	0.09%	0.04%
CROX	D	0.02%	0.05%	0.02%
CRUS	D	0.02%	0.06%	0.02%
CSGP	D	0.1%	0.32%	0.1%
CTSH	B	0.13%	0.42%	0.13%
CZR	F	0.03%	0.09%	0.03%
DBX	B	0.02%	0.05%	0.02%
DJT	C	0.02%	0.01%	0.01%
DLTR	F	0.04%	0.14%	0.04%
DOX	D	0.03%	0.11%	0.03%
EA	A	0.14%	0.47%	0.14%
EBAY	D	0.1%	0.34%	0.1%
EEFT	B	0.02%	0.05%	0.02%
ETSY	D	0.02%	0.02%	0.02%
EVRG	A	0.04%	0.16%	0.04%
EWBC	A	0.05%	0.16%	0.05%
EXAS	D	0.03%	0.06%	0.03%
EXC	C	0.13%	0.43%	0.13%
EXEL	B	0.04%	0.02%	0.02%
FANG	D	0.17%	0.37%	0.17%
FAST	B	0.16%	0.08%	0.08%
FCNCA	A	0.1%	0.29%	0.1%
FFIV	B	0.04%	0.15%	0.04%
FHB	A	0.01%	0.04%	0.01%
FITB	A	0.09%	0.35%	0.09%
FIVE	F	0.02%	0.01%	0.01%
FOX	A	0.03%	0.06%	0.03%
FOXA	B	0.03%	0.12%	0.03%
FRPT	B	0.02%	0.05%	0.02%
FSLR	F	0.07%	0.22%	0.07%
FTRE	D	0.01%	0.02%	0.01%
FYBR	D	0.03%	0.09%	0.03%
GEHC	F	0.12%	0.37%	0.12%
GEN	B	0.06%	0.18%	0.06%
GFS	C	0.08%	0.04%	0.04%
GLPI	C	0.04%	0.14%	0.04%
GNTX	C	0.02%	0.08%	0.02%
HAS	D	0.03%	0.01%	0.01%
HBAN	A	0.08%	0.28%	0.08%
HCP	B	0.01%	0.01%	0.01%
HOLX	D	0.06%	0.2%	0.06%
HOOD	B	0.08%	0.24%	0.08%
HSIC	B	0.03%	0.1%	0.03%
HST	C	0.04%	0.13%	0.04%
IAC	D	0.01%	0.04%	0.01%
IBKR	A	0.07%	0.21%	0.07%
ILMN	D	0.07%	0.24%	0.07%
INCY	C	0.05%	0.13%	0.05%
IONS	F	0.02%	0.0%	0.0%
IRDM	D	0.01%	0.03%	0.01%
JAZZ	B	0.02%	0.08%	0.02%
JBHT	C	0.06%	0.16%	0.06%
JKHY	D	0.04%	0.14%	0.04%
LAMR	D	0.03%	0.09%	0.03%
LBRDA	C	0.01%	0.01%	0.01%
LBRDK	C	0.04%	0.08%	0.04%
LCID	F	0.02%	0.02%	0.02%
LECO	B	0.04%	0.09%	0.04%
LFUS	F	0.02%	0.06%	0.02%
LITE	B	0.02%	0.06%	0.02%
LKQ	D	0.03%	0.11%	0.03%
LNT	A	0.05%	0.17%	0.05%
LOPE	B	0.02%	0.03%	0.02%
LSCC	D	0.02%	0.01%	0.01%
LSTR	D	0.02%	0.07%	0.02%
LYFT	C	0.02%	0.02%	0.02%
MASI	A	0.03%	0.04%	0.03%
MAT	D	0.02%	0.07%	0.02%
MCHP	F	0.11%	0.37%	0.11%
MIDD	C	0.02%	0.08%	0.02%
MKSI	C	0.02%	0.07%	0.02%
MKTX	D	0.04%	0.11%	0.04%
MSTR	C	0.2%	0.55%	0.2%
MTCH	D	0.03%	0.09%	0.03%
MTSI	B	0.03%	0.08%	0.03%
NCNO	B	0.02%	0.01%	0.01%
NDAQ	A	0.15%	0.36%	0.15%
NDSN	B	0.05%	0.16%	0.05%
NTAP	C	0.08%	0.15%	0.08%
NTNX	A	0.06%	0.13%	0.06%
NTRS	A	0.07%	0.24%	0.07%
NWL	B	0.02%	0.04%	0.02%
NWS	A	0.02%	0.04%	0.02%
NWSA	B	0.04%	0.12%	0.04%
NXST	C	0.02%	0.03%	0.02%
OKTA	C	0.04%	0.07%	0.04%
OLED	D	0.02%	0.04%	0.02%
OLLI	D	0.02%	0.06%	0.02%
ON	D	0.1%	0.31%	0.1%
OZK	B	0.02%	0.06%	0.02%
PARA	C	0.03%	0.07%	0.03%
PAYX	C	0.17%	0.32%	0.17%
PENN	C	0.01%	0.03%	0.01%
PFG	D	0.06%	0.22%	0.06%
PINC	B	0.01%	0.03%	0.01%
PLTK	B	0.01%	0.01%	0.01%
PNFP	B	0.03%	0.1%	0.03%
PPC	C	0.04%	0.02%	0.02%
PTC	A	0.07%	0.1%	0.07%
PYCR	C	0.01%	0.01%	0.01%
QRVO	F	0.02%	0.07%	0.02%
RCM	F	0.02%	0.02%	0.02%
REG	B	0.04%	0.15%	0.04%
REYN	D	0.02%	0.02%	0.02%
RGEN	D	0.02%	0.07%	0.02%
RGLD	C	0.03%	0.1%	0.03%
RIVN	F	0.04%	0.09%	0.04%
ROIV	C	0.03%	0.05%	0.03%
ROKU	D	0.03%	0.08%	0.03%
ROST	C	0.15%	0.39%	0.15%
RPRX	D	0.04%	0.11%	0.04%
SAIA	B	0.05%	0.06%	0.05%
SAIC	F	0.03%	0.07%	0.03%
SBAC	D	0.08%	0.26%	0.08%
SEIC	B	0.04%	0.09%	0.04%
SHC	F	0.02%	0.02%	0.02%
SIRI	C	0.03%	0.07%	0.03%
SLM	A	0.02%	0.06%	0.02%
SOFI	A	0.05%	0.13%	0.05%
SSNC	B	0.06%	0.17%	0.06%
STLD	B	0.07%	0.23%	0.07%
SWKS	F	0.04%	0.15%	0.04%
TECH	D	0.04%	0.12%	0.04%
TER	D	0.06%	0.02%	0.02%
TFSL	A	0.02%	0.01%	0.01%
TPG	A	0.02%	0.05%	0.02%
TRMB	B	0.06%	0.19%	0.06%
TROW	B	0.08%	0.29%	0.08%
TTEK	F	0.04%	0.1%	0.04%
TTWO	A	0.1%	0.34%	0.1%
TW	A	0.05%	0.1%	0.05%
TXG	F	0.01%	0.01%	0.01%
UAL	A	0.1%	0.33%	0.1%
ULTA	F	0.05%	0.03%	0.03%
UTHR	C	0.05%	0.17%	0.05%
VIRT	B	0.02%	0.03%	0.02%
VRSN	F	0.06%	0.16%	0.06%
VTRS	A	0.05%	0.17%	0.05%
WBA	F	0.02%	0.07%	0.02%
WBD	C	0.08%	0.25%	0.08%
WDC	D	0.07%	0.23%	0.07%
WEN	D	0.01%	0.02%	0.01%
WSC	D	0.02%	0.05%	0.02%
WTFC	A	0.03%	0.09%	0.03%
WTW	B	0.11%	0.35%	0.11%
WWD	B	0.03%	0.11%	0.03%
WYNN	D	0.03%	0.09%	0.03%
XEL	A	0.13%	0.43%	0.13%
XRAY	F	0.01%	0.04%	0.01%
Z	A	0.04%	0.13%	0.04%
ZBRA	B	0.07%	0.17%	0.07%
ZG	A	0.01%	0.04%	0.01%
ZION	B	0.03%	0.1%	0.03%
ZM	B	0.07%	0.24%	0.07%

ONEQ Overweight 638 Positions Relative to IWS

Symbol	Grade	Weight
NVDA	C	11.52%
AAPL	C	11.32%
MSFT	F	10.23%
AMZN	C	7.05%
META	D	4.0%
TSLA	B	3.4%
GOOGL	C	3.35%
GOOG	C	3.22%
AVGO	D	2.53%
COST	B	1.33%
NFLX	A	1.17%
TMUS	B	0.89%
CSCO	B	0.76%
ADBE	C	0.74%
AMD	F	0.72%
PEP	F	0.7%
LIN	D	0.69%
INTU	C	0.63%
ISRG	A	0.61%
QCOM	F	0.59%
TXN	C	0.59%
BKNG	A	0.54%
CMCSA	B	0.54%
AMGN	D	0.5%
HON	B	0.49%
AMAT	F	0.46%
PANW	C	0.41%
ADP	B	0.4%
VRTX	F	0.39%
SBUX	A	0.37%
GILD	C	0.36%
INTC	D	0.35%
MU	D	0.35%
ADI	D	0.34%
MELI	D	0.32%
LRCX	F	0.3%
PYPL	B	0.29%
EQIX	A	0.28%
APP	B	0.28%
MDLZ	F	0.28%
CTAS	B	0.27%
REGN	F	0.27%
KLAC	D	0.27%
CME	A	0.27%
CRWD	B	0.26%
CDNS	B	0.26%
SNPS	B	0.26%
MRVL	B	0.25%
MAR	B	0.25%
PDD	F	0.25%
FTNT	C	0.24%
CEG	D	0.23%
ORLY	B	0.23%
DASH	A	0.22%
ASML	F	0.21%
ADSK	A	0.21%
CSX	B	0.21%
ABNB	C	0.19%
ROP	B	0.19%
PCAR	B	0.19%
CPRT	A	0.18%
NXPI	D	0.18%
WDAY	B	0.18%
MNST	C	0.17%
TTD	B	0.17%
AEP	D	0.16%
ODFL	B	0.15%
KDP	D	0.14%
AXON	A	0.14%
DDOG	A	0.13%
TEAM	A	0.13%
VRSK	A	0.13%
AZN	D	0.12%
KHC	F	0.12%
LULU	C	0.12%
CCEP	C	0.11%
IDXX	F	0.11%
ZS	C	0.1%
TSCO	D	0.1%
DXCM	D	0.1%
MPWR	F	0.09%
TCOM	B	0.08%
LPLA	A	0.08%
ERIE	D	0.07%
STX	D	0.07%
MDB	C	0.07%
EXPE	B	0.07%
JD	D	0.06%
MANH	D	0.06%
NTRA	B	0.06%
ARGX	A	0.06%
GRAB	B	0.06%
PODD	C	0.06%
DKNG	B	0.06%
CHKP	D	0.06%
BSY	D	0.05%
MRNA	F	0.05%
ENTG	D	0.05%
SNY	F	0.05%
SFM	A	0.05%
DOCU	A	0.05%
MORN	B	0.05%
FLEX	A	0.05%
ICLR	D	0.05%
ARM	D	0.05%
SMCI	F	0.04%
NTES	D	0.04%
DUOL	A	0.04%
AAON	B	0.04%
PAA	B	0.04%
PCTY	B	0.04%
NBIX	C	0.04%
TXRH	C	0.04%
RKLB	B	0.04%
BIDU	F	0.04%
LOGI	D	0.04%
MNDY	C	0.04%
SMMT	D	0.04%
CYBR	B	0.04%
POOL	C	0.04%
CVLT	B	0.03%
CSWI	A	0.03%
LNW	D	0.03%
GLBE	B	0.03%
GTLB	B	0.03%
OTEX	D	0.03%
FRHC	B	0.03%
ENPH	F	0.03%
PEGA	A	0.03%
HLNE	B	0.03%
NICE	C	0.03%
HQY	B	0.03%
ITCI	C	0.03%
MEDP	D	0.03%
WING	D	0.03%
CHDN	B	0.03%
BGNE	D	0.03%
RVMD	C	0.03%
FUTU	D	0.03%
PCVX	D	0.03%
INSM	C	0.03%
BNTX	D	0.03%
SRPT	D	0.03%
WIX	B	0.03%
ARLP	A	0.02%
CLBT	B	0.02%
SFNC	B	0.02%
VERX	B	0.02%
GSHD	A	0.02%
WDFC	B	0.02%
VRRM	D	0.02%
TBBK	B	0.02%
GH	B	0.02%
TGTX	B	0.02%
FTDR	A	0.02%
WSFS	A	0.02%
AUR	C	0.02%
CCOI	B	0.02%
GLNG	D	0.02%
QFIN	B	0.02%
MGEE	C	0.02%
FRSH	C	0.02%
IPAR	B	0.02%
CVCO	A	0.02%
SKYW	B	0.02%
PI	D	0.02%
CATY	B	0.02%
BLKB	B	0.02%
APPF	B	0.02%
AEIS	B	0.02%
KRYS	B	0.02%
KTOS	B	0.02%
DORM	B	0.02%
LI	F	0.02%
ALKT	B	0.02%
CHCI	D	0.02%
BBIO	F	0.02%
ACLX	C	0.02%
CRNX	C	0.02%
VICR	B	0.02%
BANF	B	0.02%
LANC	C	0.02%
RUSHA	C	0.02%
LNTH	D	0.02%
ICUI	D	0.02%
SBRA	C	0.02%
AXSM	B	0.02%
FIZZ	C	0.02%
BPMC	C	0.02%
BGC	C	0.02%
CALM	A	0.02%
PAYO	A	0.02%
TCBI	B	0.02%
ALKS	B	0.02%
IEP	F	0.02%
WMG	C	0.02%
VCTR	B	0.02%
ROAD	A	0.02%
PECO	A	0.02%
SANM	B	0.02%
PLXS	B	0.02%
IBOC	A	0.02%
INTA	A	0.02%
TIGO	D	0.02%
NUVL	D	0.02%
USLM	A	0.02%
VKTX	F	0.02%
PRCT	B	0.02%
ITRI	B	0.02%
QLYS	C	0.02%
EXPO	D	0.02%
HALO	F	0.02%
ONB	B	0.02%
BECN	B	0.02%
STEP	B	0.02%
FELE	B	0.02%
CYTK	F	0.02%
RMBS	C	0.02%
VRNS	D	0.02%
COOP	B	0.02%
TENB	C	0.02%
VLY	B	0.02%
SITM	B	0.02%
CHX	C	0.02%
HWC	B	0.02%
ALTR	B	0.02%
CELH	F	0.02%
CWST	A	0.02%
MMSI	B	0.02%
HTHT	D	0.02%
WFRD	D	0.02%
MARA	C	0.02%
ACT	D	0.02%
AVAV	D	0.02%
RDNT	B	0.02%
UBSI	B	0.02%
QXO	D	0.02%
UPST	B	0.02%
STRL	B	0.02%
ACIW	B	0.02%
BCPC	B	0.02%
MDGL	B	0.02%
CORT	B	0.02%
SIGI	C	0.02%
IESC	B	0.02%
UMBF	B	0.02%
CFLT	B	0.02%
EXLS	B	0.02%
NOVT	D	0.02%
ENSG	D	0.02%
XP	F	0.02%
CRVL	A	0.02%
UFPI	B	0.02%
MMYT	B	0.02%
CRDO	B	0.02%
SPSC	C	0.02%
ASND	D	0.02%
FFIN	B	0.02%
COLL	F	0.01%
SRAD	A	0.01%
BFST	C	0.01%
AMWD	C	0.01%
KRUS	B	0.01%
ODP	F	0.01%
WOOF	D	0.01%
BLMN	F	0.01%
PGNY	F	0.01%
LQDA	D	0.01%
PSNY	F	0.01%
GRFS	C	0.01%
JACK	D	0.01%
IQ	F	0.01%
CNTA	B	0.01%
BCYC	F	0.01%
BLBD	D	0.01%
GSM	D	0.01%
CNSL	C	0.01%
SAVA	D	0.01%
MOMO	D	0.01%
EBTC	B	0.01%
EMBC	C	0.01%
GDEN	B	0.01%
GIII	D	0.01%
IMKTA	C	0.01%
BVS	D	0.01%
LILAK	D	0.01%
TRS	B	0.01%
COGT	D	0.01%
MATW	C	0.01%
EYE	C	0.01%
BCBP	A	0.01%
CLOV	D	0.01%
MYGN	F	0.01%
RCKT	F	0.01%
SDGR	C	0.01%
BMBL	D	0.01%
TRNS	D	0.01%
MGPI	F	0.01%
ARDX	F	0.01%
AMRK	F	0.01%
PLUG	F	0.01%
ICHR	C	0.01%
TTGT	C	0.01%
TRDA	B	0.01%
STAA	F	0.01%
ASTL	B	0.01%
KC	A	0.01%
VRNT	C	0.01%
HROW	D	0.01%
NSSC	D	0.01%
VITL	D	0.01%
SPRY	D	0.01%
AOSL	C	0.01%
THRM	D	0.01%
IRON	B	0.01%
TLRY	F	0.01%
PLAY	D	0.01%
SCVL	F	0.01%
OPK	C	0.01%
CBRL	C	0.01%
NVEE	F	0.01%
ISTR	B	0.01%
COHU	C	0.01%
TH	C	0.01%
IMCR	C	0.01%
PLYA	B	0.01%
FFIC	B	0.01%
VIR	D	0.01%
AVAH	B	0.01%
WASH	C	0.01%
GLUE	C	0.01%
PDFS	C	0.01%
OLPX	D	0.01%
HTLD	B	0.01%
IBUY	A	0.01%
KURA	F	0.01%
CLDX	F	0.01%
ANIP	F	0.01%
CEVA	B	0.01%
VECO	F	0.01%
FWRD	D	0.01%
MLCO	F	0.01%
HAFC	A	0.01%
RNW	D	0.01%
AVO	C	0.01%
SPT	C	0.01%
CMCO	B	0.01%
KALU	C	0.01%
FWRG	C	0.01%
CNDT	C	0.01%
VRDN	D	0.01%
BCRX	D	0.01%
BASE	C	0.01%
FLYW	C	0.01%
DOOO	F	0.01%
PFC	A	0.01%
SOUN	C	0.01%
DAWN	F	0.01%
UCTT	D	0.01%
TNDM	F	0.01%
SNDX	F	0.01%
MRTN	C	0.01%
SIMO	D	0.01%
UDMY	F	0.01%
WB	D	0.01%
SABR	C	0.01%
AHCO	F	0.01%
HLIT	D	0.01%
SPNS	F	0.01%
INMD	C	0.01%
PLAB	C	0.01%
KRNT	C	0.01%
RDWR	B	0.01%
TVTX	B	0.01%
DLO	C	0.01%
XRX	F	0.01%
SCSC	B	0.01%
NAVI	C	0.01%
INFN	C	0.01%
INVA	D	0.01%
UNIT	B	0.01%
PDCO	D	0.01%
ECPG	B	0.01%
HBNC	B	0.01%
CRAI	B	0.01%
CENTA	C	0.01%
ARVN	D	0.01%
MBUU	C	0.01%
QNST	B	0.01%
WABC	B	0.01%
SAFT	C	0.01%
ANDE	D	0.01%
ACLS	F	0.01%
IAS	C	0.01%
MCRI	A	0.01%
ATEX	D	0.01%
WINA	B	0.01%
ENVX	F	0.01%
HAIN	C	0.01%
IREN	C	0.01%
PCT	C	0.01%
TWST	D	0.01%
NVCR	C	0.01%
RXST	F	0.01%
CRTO	C	0.01%
NEO	C	0.01%
AMSF	B	0.01%
FA	C	0.01%
PEBO	A	0.01%
MSEX	B	0.01%
PFBC	B	0.01%
TCBK	B	0.01%
ULH	B	0.01%
NEXT	B	0.01%
AKRO	B	0.01%
GDYN	B	0.01%
UPBD	B	0.01%
PAGP	A	0.01%
AXNX	C	0.01%
AUPH	B	0.01%
CNXN	C	0.01%
SBLK	F	0.01%
DGII	B	0.01%
CSGS	B	0.01%
HRMY	D	0.01%
MNKD	C	0.01%
HTZ	C	0.01%
OCFC	B	0.01%
MQ	F	0.01%
ERII	D	0.01%
RUN	F	0.01%
CHEF	A	0.01%
LBPH	A	0.01%
APOG	B	0.01%
VC	D	0.01%
MLKN	D	0.01%
PTGX	C	0.01%
AY	B	0.01%
ATSG	B	0.01%
DVAX	C	0.01%
TARS	B	0.01%
BUSE	B	0.01%
DNUT	D	0.01%
TMDX	F	0.01%
VSEC	C	0.01%
RRR	D	0.01%
IDYA	F	0.01%
TRMD	F	0.01%
GTX	D	0.01%
BEAM	D	0.01%
GABC	B	0.01%
LKFN	B	0.01%
ZLAB	C	0.01%
INBK	B	0.01%
JANX	C	0.01%
HPK	B	0.01%
RIOT	C	0.01%
LGIH	D	0.01%
ULCC	D	0.01%
GERN	D	0.01%
KYMR	D	0.01%
DYN	F	0.01%
IOVA	F	0.01%
CMPR	D	0.01%
ASTH	D	0.01%
DIOD	D	0.01%
VMEO	B	0.01%
MBIN	D	0.01%
VERA	B	0.01%
APPN	B	0.01%
ATAT	C	0.01%
NWBI	B	0.01%
ROIC	A	0.01%
JAMF	F	0.01%
EXTR	B	0.01%
ADUS	D	0.01%
BILI	D	0.01%
STRA	C	0.01%
CAKE	C	0.01%
EVCM	B	0.01%
HOPE	B	0.01%
SUPN	C	0.01%
STBA	B	0.01%
CPRX	C	0.01%
XNCR	B	0.01%
NTCT	C	0.01%
PTVE	B	0.01%
GDS	C	0.01%
YY	C	0.01%
PLUS	F	0.01%
PRDO	B	0.01%
ROCK	C	0.01%
RPD	C	0.01%
WERN	C	0.01%
IRTC	D	0.01%
VBTX	B	0.01%
SASR	B	0.01%
CHCO	B	0.01%
XPEL	C	0.01%
LAUR	A	0.01%
DCOM	A	0.01%
LGND	B	0.01%
NMRK	B	0.01%
CGON	F	0.01%
ALHC	C	0.01%
PRVA	B	0.01%
ARWR	F	0.01%
WSBC	B	0.01%
NNBR	C	0.01%
ARCB	C	0.01%
CLBK	B	0.01%
SYBT	B	0.01%
AMRX	C	0.01%
OSW	A	0.01%
SBCF	A	0.01%
FLNC	C	0.01%
TTMI	B	0.01%
AMPH	D	0.01%
FRME	B	0.01%
VRNA	B	0.01%
UFPT	B	0.01%
WULF	C	0.01%
CASH	A	0.01%
MGNI	A	0.01%
KROS	D	0.01%
PSMT	C	0.01%
GOGL	F	0.01%
CIFR	B	0.01%
IDCC	B	0.01%
HURN	B	0.01%
CLSK	C	0.01%
VCYT	B	0.01%
OPCH	D	0.01%
TRUP	B	0.01%
FORM	D	0.01%
FIVN	C	0.01%
STNE	F	0.01%
EFSC	B	0.01%
FBNC	A	0.01%
HEES	B	0.01%
KLIC	B	0.01%
SKWD	A	0.01%
LIVN	F	0.01%
TRMK	B	0.01%
GT	C	0.01%
NWE	A	0.01%
LMAT	A	0.01%
ICFI	F	0.01%
MYRG	B	0.01%
ALRM	C	0.01%
VIAV	B	0.01%
FFBC	A	0.01%
APLS	D	0.01%
MRUS	F	0.01%
SMTC	B	0.01%
TFIN	A	0.01%
CENX	B	0.01%
MIRM	B	0.01%
OSIS	B	0.01%
GGAL	C	0.01%
ASTE	B	0.01%
FROG	C	0.01%
JBLU	F	0.01%
EWTX	C	0.01%
SWTX	C	0.01%
EXPI	C	0.01%
NBTB	B	0.01%
BRZE	C	0.01%
SYNA	C	0.01%
SHOO	D	0.01%
VCEL	B	0.01%
ERIC	B	0.01%
MRCY	B	0.01%
SGRY	F	0.01%
BANR	B	0.01%
OMCL	C	0.01%
SRRK	B	0.01%
MGRC	B	0.01%
NPAB	B	0.01%
PPBI	B	0.01%
PATK	D	0.01%
ACAD	D	0.01%
ATRC	C	0.01%
INDB	B	0.01%
IOSP	B	0.01%
NARI	C	0.01%
FOLD	F	0.01%
SATS	D	0.01%
PLMR	B	0.01%
RBCAA	B	0.01%
ZD	B	0.01%
NEOG	F	0.01%
PRGS	A	0.01%
HWKN	B	0.01%
TOWN	B	0.01%
BL	B	0.01%
LEGN	F	0.01%
RNA	D	0.01%
SLAB	D	0.01%
ESGR	B	0.01%
VOD	F	0.01%
POWI	D	0.01%
CARG	C	0.01%
OTTR	C	0.01%
WVE	C	0.01%
FULT	A	0.01%
XENE	F	0.01%
JJSF	B	0.01%
PTCT	B	0.01%
IBTX	B	0.01%
URBN	C	0.01%
NMIH	D	0.01%
BZ	F	0.01%
DRVN	B	0.01%
AMBA	B	0.01%
LFST	C	0.01%
HUBG	A	0.01%
ACVA	B	0.01%
ADMA	B	0.01%
RYTM	C	0.01%
CVBF	A	0.01%
EBC	B	0.01%
DNLI	D	0.01%
AGIO	C	0.01%
RARE	D	0.01%
HTLF	B	0.01%
PCH	D	0.01%
FIBK	A	0.01%
SMPL	B	0.01%
SNEX	B	0.01%
WAFD	B	0.01%
ASO	F	0.01%
NSIT	F	0.01%
IMVT	F	0.01%
CRSP	D	0.01%
PTEN	C	0.01%
AGYS	A	0.01%
POWL	C	0.01%

ONEQ Underweight 515 Positions Relative to IWS

Symbol	Grade	Weight
WMB	A	-0.76%
OKE	A	-0.7%
AFL	B	-0.68%
AJG	B	-0.65%
BK	A	-0.64%
DLR	B	-0.64%
KMI	A	-0.58%
O	D	-0.54%
CMI	A	-0.54%
FIS	C	-0.54%
DHI	D	-0.53%
LHX	C	-0.51%
CCI	D	-0.5%
KVUE	A	-0.5%
PRU	A	-0.5%
PEG	A	-0.49%
AME	A	-0.49%
PCG	A	-0.49%
SPG	B	-0.48%
ALL	A	-0.48%
DFS	B	-0.48%
HWM	A	-0.47%
URI	B	-0.46%
DAL	C	-0.45%
IR	B	-0.45%
CBRE	B	-0.44%
OTIS	C	-0.44%
LEN	D	-0.44%
CTVA	C	-0.43%
FERG	B	-0.42%
KR	B	-0.42%
A	D	-0.41%
NUE	C	-0.39%
GIS	D	-0.39%
GLW	B	-0.39%
MTB	A	-0.39%
RCL	A	-0.39%
WAB	B	-0.38%
DD	D	-0.38%
EXR	D	-0.38%
HIG	B	-0.38%
HUM	C	-0.37%
ED	D	-0.37%
MLM	B	-0.37%
GRMN	B	-0.36%
AVB	B	-0.36%
PWR	A	-0.36%
VICI	C	-0.36%
ETR	B	-0.35%
EIX	B	-0.35%
IQV	D	-0.34%
DOW	F	-0.34%
WEC	A	-0.34%
GPN	B	-0.33%
HLT	A	-0.33%
ROK	B	-0.33%
CNC	D	-0.33%
RJF	A	-0.33%
PPG	F	-0.32%
STT	A	-0.32%
XYL	D	-0.32%
EQR	B	-0.31%
SQ	A	-0.3%
HPQ	A	-0.3%
HPE	B	-0.3%
VMC	B	-0.3%
DOV	A	-0.3%
KEYS	A	-0.29%
HAL	C	-0.29%
AWK	D	-0.29%
FTV	C	-0.29%
PHM	D	-0.29%
CHD	B	-0.29%
SW	A	-0.29%
ADM	D	-0.28%
VTR	C	-0.28%
SYF	B	-0.28%
NVR	D	-0.28%
CCL	B	-0.27%
DVN	F	-0.27%
RF	A	-0.27%
AEE	A	-0.27%
EFX	F	-0.27%
RMD	C	-0.27%
DTE	C	-0.27%
MTD	D	-0.27%
PPL	B	-0.27%
YUM	B	-0.26%
HUBB	B	-0.26%
EQT	B	-0.26%
LNG	B	-0.26%
FE	C	-0.26%
WY	D	-0.25%
ZBH	C	-0.25%
HSY	F	-0.24%
EXE	B	-0.24%
LYB	F	-0.24%
LDOS	C	-0.24%
TDY	B	-0.24%
STE	F	-0.24%
ATO	A	-0.24%
ES	D	-0.24%
IFF	D	-0.24%
INVH	D	-0.23%
PKG	A	-0.23%
CBOE	B	-0.23%
K	A	-0.23%
CFG	B	-0.23%
LH	C	-0.22%
BBY	D	-0.22%
IP	B	-0.22%
CMS	C	-0.22%
MKC	D	-0.21%
OMC	C	-0.21%
BALL	D	-0.21%
CTRA	B	-0.21%
BLDR	D	-0.21%
ESS	B	-0.21%
MSCI	C	-0.21%
COO	D	-0.21%
LUV	C	-0.21%
CNP	B	-0.21%
RS	B	-0.2%
KEY	B	-0.2%
DGX	A	-0.2%
WRB	A	-0.2%
WSO	A	-0.2%
TSN	B	-0.2%
ARE	D	-0.2%
MAA	B	-0.2%
SNA	A	-0.2%
CVNA	B	-0.19%
GPC	D	-0.19%
MAS	D	-0.19%
IEX	B	-0.19%
J	F	-0.19%
TRU	D	-0.19%
PNR	A	-0.19%
CSL	C	-0.19%
CF	B	-0.18%
FNF	B	-0.18%
MRO	B	-0.18%
BAX	D	-0.18%
KIM	A	-0.18%
NI	A	-0.18%
DG	F	-0.18%
OC	A	-0.18%
MKL	A	-0.18%
L	A	-0.17%
RGA	A	-0.17%
SUI	D	-0.17%
TOL	B	-0.17%
TXT	D	-0.17%
SYY	B	-0.16%
EXPD	D	-0.16%
IRM	D	-0.16%
HES	B	-0.16%
APTV	D	-0.16%
UDR	B	-0.16%
ACM	B	-0.16%
DOC	D	-0.16%
BRO	B	-0.16%
USFD	A	-0.16%
THC	D	-0.16%
AMCR	D	-0.16%
GGG	B	-0.16%
TWLO	A	-0.15%
RPM	A	-0.15%
RNR	C	-0.15%
EG	C	-0.15%
RVTY	F	-0.15%
UNM	A	-0.15%
CW	B	-0.15%
VLTO	D	-0.15%
EME	C	-0.15%
AVTR	F	-0.15%
BXP	D	-0.14%
CPT	B	-0.14%
ITT	A	-0.14%
COHR	B	-0.14%
CLH	B	-0.14%
AMH	D	-0.14%
CAG	D	-0.14%
BG	F	-0.14%
JBL	B	-0.14%
ELS	C	-0.14%
SWK	D	-0.14%
TPR	B	-0.14%
AIZ	A	-0.13%
KMX	B	-0.13%
SF	B	-0.13%
BJ	A	-0.13%
OVV	B	-0.13%
UHS	D	-0.13%
CAH	B	-0.13%
EMN	D	-0.13%
FDS	B	-0.13%
JNPR	F	-0.13%
SCI	B	-0.13%
FTI	A	-0.13%
NVT	B	-0.13%
WPC	D	-0.13%
ALB	C	-0.13%
EPAM	C	-0.13%
ALLE	D	-0.13%
CCK	C	-0.12%
CTLT	B	-0.12%
EVR	B	-0.12%
CUBE	D	-0.12%
FWONK	B	-0.12%
TAP	C	-0.12%
PFGC	B	-0.12%
ATR	B	-0.12%
AA	B	-0.12%
SJM	D	-0.12%
FHN	A	-0.12%
RRX	B	-0.12%
NRG	B	-0.12%
CRL	C	-0.11%
CIEN	B	-0.11%
WTRG	B	-0.11%
GL	B	-0.11%
WAL	B	-0.11%
DPZ	C	-0.11%
EHC	B	-0.11%
ARMK	B	-0.11%
DTM	B	-0.11%
AVY	D	-0.11%
OHI	C	-0.11%
AES	F	-0.11%
AFG	A	-0.11%
NLY	C	-0.11%
GME	C	-0.11%
AYI	B	-0.11%
BLD	D	-0.11%
DAY	B	-0.11%
DKS	C	-0.11%
LAD	A	-0.11%
IPG	D	-0.11%
ALSN	B	-0.11%
WBS	A	-0.11%
PRI	A	-0.11%
CACI	D	-0.11%
PNW	B	-0.11%
GWRE	A	-0.1%
ALLY	C	-0.1%
BRX	A	-0.1%
AOS	F	-0.1%
MGM	D	-0.1%
SNX	C	-0.1%
KNX	B	-0.1%
HLI	B	-0.1%
AR	B	-0.1%
RBC	A	-0.1%
WCC	B	-0.1%
AXTA	A	-0.1%
TFX	F	-0.1%
WST	C	-0.1%
REXR	F	-0.1%
GMED	A	-0.1%
FBIN	D	-0.1%
BWXT	B	-0.1%
DCI	B	-0.1%
CMA	A	-0.1%
INGR	B	-0.1%
JEF	A	-0.1%
FRT	B	-0.1%
ORI	A	-0.1%
SOLV	C	-0.1%
DRI	B	-0.1%
BRBR	A	-0.1%
CNH	C	-0.1%
FLS	B	-0.09%
BWA	D	-0.09%
G	B	-0.09%
ACI	C	-0.09%
RRC	B	-0.09%
SNV	B	-0.09%
X	C	-0.09%
APG	B	-0.09%
TKO	B	-0.09%
CFR	B	-0.09%
FICO	B	-0.09%
VOYA	B	-0.09%
WAT	B	-0.09%
EGP	F	-0.09%
RL	B	-0.09%
GPK	C	-0.09%
NYT	C	-0.09%
TTC	D	-0.09%
MOS	F	-0.09%
HRL	D	-0.09%
CR	A	-0.09%
MTZ	B	-0.09%
JLL	D	-0.09%
OGE	B	-0.09%
RLI	B	-0.08%
DAR	C	-0.08%
ELAN	D	-0.08%
FCN	D	-0.08%
GXO	B	-0.08%
FND	C	-0.08%
R	B	-0.08%
SSD	D	-0.08%
FR	D	-0.08%
ATI	D	-0.08%
ESAB	B	-0.08%
OSK	B	-0.08%
VFC	C	-0.08%
BBWI	D	-0.08%
VNO	B	-0.08%
KBR	F	-0.08%
CART	C	-0.08%
SKX	D	-0.08%
MHK	D	-0.08%
LW	C	-0.08%
KEX	C	-0.08%
RHI	B	-0.08%
PB	A	-0.08%
CHE	D	-0.08%
ADC	B	-0.08%
PR	B	-0.08%
HII	D	-0.08%
BERY	B	-0.08%
NNN	D	-0.08%
LNC	B	-0.07%
WHR	B	-0.07%
VNT	B	-0.07%
IDA	A	-0.07%
CE	F	-0.07%
S	B	-0.07%
STWD	C	-0.07%
ARW	D	-0.07%
BIO	D	-0.07%
BEN	C	-0.07%
COLD	D	-0.07%
OMF	A	-0.07%
MTDR	B	-0.07%
NOV	C	-0.07%
MOH	F	-0.07%
MSA	D	-0.07%
ESI	A	-0.07%
KD	B	-0.07%
MTG	C	-0.07%
IVZ	B	-0.07%
BILL	A	-0.07%
FAF	A	-0.07%
STAG	F	-0.07%
HR	C	-0.07%
WEX	D	-0.07%
AZPN	A	-0.07%
DINO	D	-0.07%
GWW	B	-0.07%
HRB	D	-0.07%
AXS	A	-0.07%
VMI	B	-0.07%
ALK	C	-0.07%
WSM	B	-0.07%
WH	B	-0.07%
FMC	D	-0.07%
AMP	A	-0.06%
BYD	C	-0.06%
UGI	A	-0.06%
AL	B	-0.06%
BFAM	D	-0.06%
POST	C	-0.06%
CCCS	B	-0.06%
SN	D	-0.06%
LEA	D	-0.06%
BC	C	-0.06%
GNRC	B	-0.06%
RITM	C	-0.06%
THO	B	-0.06%
NFG	A	-0.06%
DOCS	C	-0.06%
PVH	C	-0.06%
H	B	-0.06%
WMS	D	-0.06%
ONTO	D	-0.06%
JHG	A	-0.06%
THG	A	-0.06%
AMG	B	-0.06%
AGCO	D	-0.06%
FNB	A	-0.06%
GTES	A	-0.05%
DLB	B	-0.05%
PAYC	B	-0.05%
AN	C	-0.05%
WLK	D	-0.05%
M	D	-0.05%
GAP	B	-0.05%
KMPR	B	-0.05%
SLGN	A	-0.05%
RYN	D	-0.05%
AWI	A	-0.05%
PSN	D	-0.05%
KRC	C	-0.05%
CUZ	B	-0.05%
AGO	B	-0.05%
ST	F	-0.05%
HXL	D	-0.05%
OLN	D	-0.05%
WTM	A	-0.05%
TKR	D	-0.05%
SON	D	-0.05%
SMG	D	-0.04%
HUN	F	-0.04%
AM	A	-0.04%
EPR	D	-0.04%
HIW	D	-0.04%
UHAL	D	-0.04%
PII	D	-0.04%
NVST	B	-0.04%
CLF	F	-0.04%
W	F	-0.04%
TNL	A	-0.04%
VNOM	A	-0.04%
PRGO	B	-0.04%
CIVI	D	-0.04%
DNB	B	-0.04%
MDU	D	-0.04%
NEU	C	-0.04%
MSGS	A	-0.04%
DXC	B	-0.04%
PLNT	A	-0.04%
RH	B	-0.04%
MSM	C	-0.04%
TYL	C	-0.04%
OGN	D	-0.04%
ASH	D	-0.04%
LINE	F	-0.04%
SITE	D	-0.04%
HOG	D	-0.04%
FLO	D	-0.04%
HAYW	B	-0.03%
JWN	C	-0.03%
CWEN	C	-0.03%
YETI	C	-0.03%
BR	A	-0.03%
CPRI	F	-0.03%
SPB	C	-0.03%
EXP	A	-0.03%
MP	B	-0.03%
ENOV	C	-0.03%
HHH	B	-0.03%
MPW	F	-0.03%
AGR	B	-0.03%
CC	C	-0.03%
WU	D	-0.03%
COTY	F	-0.03%
CXT	B	-0.03%
CNM	D	-0.03%
SEE	C	-0.03%
ECG	C	-0.03%
U	C	-0.03%
MAN	D	-0.03%
NSA	D	-0.03%
PAG	B	-0.03%
PK	B	-0.03%
SNRE	D	-0.03%
LLYVK	A	-0.03%
BROS	B	-0.03%
SPR	D	-0.03%
AMTM	D	-0.03%
VAC	B	-0.03%
ZI	D	-0.03%
TRIP	F	-0.02%
SNDR	B	-0.02%
LEG	F	-0.02%
UA	B	-0.02%
QS	F	-0.02%
CLVT	F	-0.02%
GO	C	-0.02%
BIRK	D	-0.02%
LEN	D	-0.02%
ALAB	B	-0.02%
VSTS	C	-0.02%
CRI	D	-0.02%
UAA	C	-0.02%
PSTG	D	-0.02%
RKT	F	-0.02%
AZEK	A	-0.02%
LBTYK	A	-0.02%
INFA	D	-0.02%
KSS	F	-0.02%
IPGP	D	-0.02%
QDEL	F	-0.02%
LBTYA	A	-0.02%
GLOB	B	-0.02%
LPX	B	-0.02%
ADT	C	-0.02%
AAP	C	-0.02%
SAM	C	-0.02%
CHH	A	-0.01%
SEB	F	-0.01%
PATH	C	-0.01%
UI	A	-0.01%
WOLF	F	-0.01%
CWEN	C	-0.01%
MTN	C	-0.01%
CNA	B	-0.01%
FWONA	B	-0.01%
AS	B	-0.01%
CERT	F	-0.01%
DV	C	-0.01%
LLYVA	A	-0.01%
DDS	B	-0.01%
LOAR	A	-0.0%
PARAA	B	-0.0%
UWMC	D	-0.0%
SEG	B	-0.0%
NFE	D	-0.0%
UHAL	D	-0.0%
GRAL	C	-0.0%
LAZ	B	-0.0%