USMV vs. SHUS ETF Comparison

Comparison of iShares MSCI USA Minimum Volatility ETF (USMV) to Syntax Stratified U.S. Total Market Hedged ETF (SHUS)

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$93.46

Average Daily Volume

1,630,912

Number of Holdings ^*

170

* 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	USMV	SHUS
30 Days	1.70%	2.26%
60 Days	2.42%	3.81%
90 Days	4.02%	5.24%
12 Months	25.63%	15.89%

154 Overlapping Holdings

Symbol	Grade	Weight in USMV	Weight in SHUS	Overlap
AAPL	C	0.99%	0.49%	0.49%
ABBV	D	1.04%	0.24%	0.24%
ABT	B	0.09%	0.06%	0.06%
ACGL	D	0.68%	0.14%	0.14%
ACN	C	1.29%	0.13%	0.13%
ADI	D	0.23%	0.22%	0.22%
ADP	B	0.09%	0.21%	0.09%
AEE	A	0.24%	0.08%	0.08%
AEP	D	0.39%	0.24%	0.24%
AIZ	A	0.32%	0.2%	0.2%
AJG	B	1.27%	0.03%	0.03%
AKAM	D	0.39%	0.26%	0.26%
AMGN	D	0.59%	0.23%	0.23%
AMZN	C	0.14%	0.21%	0.14%
ANET	C	0.29%	0.21%	0.21%
AON	A	0.53%	0.04%	0.04%
APH	A	1.44%	0.18%	0.18%
ATO	A	0.06%	0.32%	0.06%
AVGO	D	1.19%	0.22%	0.22%
AZO	C	0.98%	0.15%	0.15%
BDX	F	0.56%	0.05%	0.05%
BMY	B	0.49%	0.25%	0.25%
BR	A	0.05%	0.11%	0.05%
BRK.A	B	1.55%	0.49%	0.49%
CB	C	1.47%	0.14%	0.14%
CBOE	B	0.85%	0.04%	0.04%
CDNS	B	0.18%	0.33%	0.18%
CDW	F	0.35%	0.12%	0.12%
CHD	B	0.4%	0.41%	0.4%
CI	F	0.21%	0.18%	0.18%
CL	D	0.41%	0.4%	0.4%
CMCSA	B	0.39%	0.51%	0.39%
CME	A	0.53%	0.04%	0.04%
CMS	C	0.19%	0.07%	0.07%
COR	B	0.67%	0.18%	0.18%
CPB	D	0.33%	0.2%	0.2%
CRM	B	0.05%	0.35%	0.05%
CRWD	B	0.19%	0.18%	0.18%
CSCO	B	1.47%	0.21%	0.21%
CTSH	B	0.76%	0.13%	0.13%
CTVA	C	0.38%	0.08%	0.08%
CVS	D	0.04%	0.68%	0.04%
CVX	A	0.34%	0.75%	0.34%
D	C	0.23%	0.24%	0.23%
DELL	C	0.12%	0.17%	0.12%
DGX	A	0.11%	0.16%	0.11%
DPZ	C	0.19%	0.52%	0.19%
DTE	C	0.2%	0.24%	0.2%
DUK	C	1.49%	0.07%	0.07%
EA	A	0.89%	0.48%	0.48%
ED	D	1.13%	0.24%	0.24%
EG	C	0.43%	0.14%	0.14%
ELV	F	0.52%	0.24%	0.24%
EOG	A	0.17%	0.07%	0.07%
ERIE	D	0.42%	0.2%	0.2%
FANG	D	0.55%	0.07%	0.07%
FFIV	B	0.55%	0.2%	0.2%
FI	A	0.69%	0.06%	0.06%
FICO	B	0.59%	0.03%	0.03%
FSLR	F	0.06%	0.2%	0.06%
GD	F	0.05%	0.16%	0.05%
GDDY	A	1.0%	0.26%	0.26%
GEN	B	0.35%	0.17%	0.17%
GILD	C	0.94%	0.24%	0.24%
GIS	D	0.66%	0.21%	0.21%
GLW	B	0.31%	0.19%	0.19%
GOOG	C	0.16%	0.22%	0.16%
GRMN	B	0.33%	0.32%	0.32%
HD	A	0.3%	0.25%	0.25%
HIG	B	0.12%	0.14%	0.12%
HOLX	D	0.16%	0.1%	0.1%
HON	B	0.25%	0.16%	0.16%
HRL	D	0.21%	0.36%	0.21%
HSY	F	0.3%	0.17%	0.17%
HUM	C	0.4%	0.26%	0.26%
IBM	C	1.66%	0.33%	0.33%
ICE	C	0.28%	0.04%	0.04%
INCY	C	0.53%	0.25%	0.25%
IT	C	0.35%	0.13%	0.13%
JNJ	D	1.18%	0.23%	0.23%
JNPR	F	0.45%	0.19%	0.19%
K	A	0.8%	0.18%	0.18%
KDP	D	0.59%	0.24%	0.24%
KEYS	A	0.55%	0.2%	0.2%
KHC	F	0.38%	0.21%	0.21%
KMB	D	0.21%	0.41%	0.21%
KO	D	0.1%	0.24%	0.1%
KR	B	0.61%	0.73%	0.61%
L	A	0.28%	0.49%	0.28%
LIN	D	0.16%	0.04%	0.04%
LLY	F	1.25%	0.23%	0.23%
LMT	D	0.82%	0.08%	0.08%
LNT	A	0.1%	0.08%	0.08%
MA	C	0.7%	0.05%	0.05%
MCD	D	1.25%	0.49%	0.49%
MCK	B	1.35%	0.18%	0.18%
MDLZ	F	0.44%	0.18%	0.18%
MDT	D	0.13%	0.06%	0.06%
MMC	B	1.11%	0.03%	0.03%
MOH	F	0.18%	0.25%	0.18%
MPC	D	0.54%	0.48%	0.48%
MRK	F	1.01%	0.24%	0.24%
MSFT	F	1.34%	0.32%	0.32%
MSI	B	1.81%	0.49%	0.49%
NEM	D	0.46%	0.24%	0.24%
NOC	D	1.43%	0.08%	0.08%
NOW	A	0.75%	0.22%	0.22%
NTAP	C	0.22%	0.17%	0.17%
NVDA	C	0.67%	0.13%	0.13%
ORCL	B	1.31%	0.34%	0.34%
ORLY	B	0.68%	0.14%	0.14%
OTIS	C	0.07%	0.08%	0.07%
OXY	D	0.12%	0.07%	0.07%
PEP	F	1.01%	0.17%	0.17%
PFE	D	0.2%	0.24%	0.2%
PG	A	1.23%	0.41%	0.41%
PGR	A	1.67%	0.19%	0.19%
PKG	A	0.2%	0.06%	0.06%
PSX	C	0.06%	0.5%	0.06%
PTC	A	0.52%	0.17%	0.17%
REGN	F	0.59%	0.23%	0.23%
ROL	B	0.36%	0.18%	0.18%
ROP	B	1.3%	0.03%	0.03%
RSG	A	1.55%	0.18%	0.18%
RTX	C	0.09%	0.08%	0.08%
SNPS	B	0.18%	0.34%	0.18%
SO	D	1.35%	0.08%	0.08%
STX	D	0.16%	0.17%	0.16%
T	A	0.74%	0.33%	0.33%
TDY	B	0.57%	0.03%	0.03%
TEL	B	0.07%	0.19%	0.07%
TJX	A	0.45%	0.71%	0.45%
TMUS	B	1.95%	0.33%	0.33%
TRV	B	1.15%	0.14%	0.14%
TSN	B	0.71%	0.35%	0.35%
TXN	C	1.39%	0.22%	0.22%
UBER	D	0.45%	0.11%	0.11%
ULTA	F	0.04%	0.17%	0.04%
UNH	C	1.34%	0.25%	0.25%
V	A	0.9%	0.04%	0.04%
VLO	C	0.05%	0.49%	0.05%
VRSK	A	0.42%	0.04%	0.04%
VRSN	F	0.64%	0.27%	0.27%
VRTX	F	0.69%	0.23%	0.23%
VZ	C	1.35%	0.32%	0.32%
WEC	A	0.78%	0.07%	0.07%
WM	A	1.44%	0.18%	0.18%
WMB	A	0.31%	0.24%	0.24%
WMT	A	1.78%	0.72%	0.72%
WRB	A	0.31%	0.13%	0.13%
WTW	B	0.38%	0.04%	0.04%
XEL	A	0.46%	0.07%	0.07%
XOM	B	0.45%	0.75%	0.45%
YUM	B	0.5%	0.5%	0.5%

USMV Overweight 16 Positions Relative to SHUS

Symbol	Grade	Weight
WCN	A	1.56%
FCNCA	A	0.88%
WDAY	B	0.43%
BAH	F	0.39%
AFG	A	0.35%
MKL	A	0.34%
NBIX	C	0.32%
FWONK	B	0.31%
HUBS	A	0.24%
AZPN	A	0.23%
ALNY	D	0.22%
BMRN	D	0.22%
TW	A	0.2%
MELI	D	0.18%
UTHR	C	0.14%
KNX	B	0.06%

USMV Underweight 346 Positions Relative to SHUS

Symbol	Grade	Weight
SYY	B	-0.73%
ROST	C	-0.71%
COST	B	-0.7%
COF	B	-0.69%
SYF	B	-0.68%
DFS	B	-0.68%
WBA	F	-0.63%
DRI	B	-0.5%
EL	F	-0.49%
CMG	B	-0.49%
SBUX	A	-0.48%
TTWO	A	-0.48%
MTCH	D	-0.46%
CHTR	C	-0.46%
META	D	-0.46%
CLX	B	-0.41%
KVUE	A	-0.41%
BWA	D	-0.41%
VST	B	-0.4%
PWR	A	-0.4%
APTV	D	-0.39%
J	F	-0.39%
CEG	D	-0.38%
JBL	B	-0.37%
ADM	D	-0.36%
BG	F	-0.36%
PM	B	-0.35%
BKR	B	-0.35%
MO	A	-0.35%
SLB	C	-0.34%
HPQ	B	-0.34%
NKE	D	-0.33%
IPG	D	-0.33%
OMC	C	-0.33%
HCA	F	-0.33%
HAL	C	-0.33%
AWK	D	-0.32%
RL	B	-0.32%
UHS	D	-0.32%
NI	A	-0.32%
TPR	B	-0.32%
NRG	B	-0.32%
AES	F	-0.31%
NVR	D	-0.3%
LULU	C	-0.3%
FCX	D	-0.29%
EXC	C	-0.29%
DECK	A	-0.29%
UAL	A	-0.28%
STLD	B	-0.27%
TSLA	B	-0.27%
DAL	C	-0.27%
MS	A	-0.26%
HUBB	B	-0.26%
ETN	A	-0.26%
EQIX	A	-0.26%
SWK	D	-0.26%
DLR	B	-0.26%
ZTS	D	-0.25%
STZ	D	-0.25%
PHM	D	-0.25%
LUV	C	-0.25%
KMI	A	-0.25%
MNST	C	-0.25%
ETR	B	-0.25%
TAP	C	-0.25%
SNA	A	-0.25%
SCHW	B	-0.25%
CNP	B	-0.25%
RJF	A	-0.25%
LOW	D	-0.25%
ENPH	F	-0.25%
NUE	C	-0.25%
HAS	D	-0.25%
PEG	A	-0.25%
GS	A	-0.25%
CNC	D	-0.25%
TRGP	B	-0.24%
OKE	A	-0.24%
FE	C	-0.24%
VTRS	A	-0.24%
BIIB	F	-0.24%
NEE	D	-0.24%
GM	B	-0.24%
LEN	D	-0.24%
F	C	-0.24%
CTLT	B	-0.24%
EIX	B	-0.24%
NXPI	D	-0.23%
MRNA	F	-0.23%
DHI	D	-0.23%
LW	C	-0.22%
EBAY	D	-0.22%
DAY	B	-0.22%
QCOM	F	-0.22%
NFLX	A	-0.22%
PLTR	B	-0.22%
CPRT	A	-0.22%
GOOGL	C	-0.22%
ON	D	-0.22%
AOS	F	-0.21%
MKC	D	-0.21%
QRVO	F	-0.21%
SWKS	F	-0.21%
SJM	D	-0.21%
MET	A	-0.21%
CAG	D	-0.21%
PAYX	C	-0.21%
PAYC	B	-0.21%
TYL	B	-0.21%
MPWR	F	-0.21%
IR	B	-0.2%
IEX	B	-0.2%
AFL	B	-0.2%
PARA	C	-0.2%
INTU	C	-0.2%
HSIC	B	-0.2%
PRU	A	-0.2%
DIS	B	-0.2%
PFG	D	-0.2%
CAH	B	-0.19%
XYL	D	-0.19%
MAS	D	-0.19%
HPE	B	-0.19%
WBD	C	-0.19%
BBWI	D	-0.19%
PNR	A	-0.19%
ALL	A	-0.19%
BLDR	D	-0.19%
GL	B	-0.19%
AIG	B	-0.19%
EQT	B	-0.18%
GEV	B	-0.18%
MHK	D	-0.18%
TGT	F	-0.17%
MMM	D	-0.17%
ANSS	B	-0.17%
DG	F	-0.17%
GE	D	-0.17%
FTNT	C	-0.17%
MLM	B	-0.17%
DOV	A	-0.17%
ITW	B	-0.17%
WY	D	-0.17%
BBY	D	-0.17%
CTRA	B	-0.17%
DLTR	F	-0.17%
KLAC	D	-0.17%
VMC	B	-0.17%
WDC	D	-0.17%
AMAT	F	-0.17%
CTAS	B	-0.17%
PANW	C	-0.16%
INTC	D	-0.16%
DVN	F	-0.16%
BA	F	-0.16%
LH	C	-0.16%
TXT	D	-0.16%
ADSK	A	-0.16%
TER	D	-0.16%
TECH	D	-0.15%
GPC	D	-0.15%
A	D	-0.15%
WAT	B	-0.15%
SMCI	F	-0.15%
MU	D	-0.15%
ADBE	C	-0.15%
MTD	D	-0.14%
CRL	C	-0.14%
CINF	A	-0.14%
URI	B	-0.14%
CAT	B	-0.14%
AMD	F	-0.14%
KMX	B	-0.14%
LKQ	D	-0.14%
TMO	F	-0.14%
EPAM	C	-0.13%
POOL	C	-0.13%
WFC	A	-0.13%
GWW	B	-0.13%
C	A	-0.13%
DE	A	-0.13%
WAB	B	-0.13%
ZBRA	B	-0.13%
BKNG	A	-0.13%
MCHP	D	-0.13%
LDOS	C	-0.13%
IQV	D	-0.13%
HLT	A	-0.12%
SYK	C	-0.12%
ABNB	C	-0.12%
MAR	B	-0.12%
EXPE	B	-0.12%
STE	F	-0.12%
ISRG	A	-0.12%
BAC	A	-0.12%
BALL	D	-0.12%
JPM	A	-0.12%
ZBH	C	-0.12%
FAST	B	-0.12%
TSCO	D	-0.12%
PCAR	B	-0.12%
AMCR	D	-0.12%
AME	A	-0.12%
VTR	C	-0.11%
DVA	B	-0.11%
WELL	A	-0.11%
EXR	D	-0.11%
DOC	D	-0.11%
BXP	D	-0.11%
HST	C	-0.11%
BK	A	-0.11%
STT	A	-0.11%
PODD	C	-0.1%
NWSA	B	-0.1%
DHR	F	-0.1%
NWS	B	-0.1%
RVTY	F	-0.1%
ESS	B	-0.1%
INVH	D	-0.1%
EQR	B	-0.1%
FOX	A	-0.1%
UDR	B	-0.1%
GEHC	F	-0.1%
ALGN	D	-0.1%
MAA	B	-0.1%
FOXA	B	-0.1%
AVB	B	-0.1%
PSA	D	-0.1%
ARE	D	-0.1%
CPT	B	-0.1%
AXON	A	-0.09%
EXPD	D	-0.09%
KKR	A	-0.09%
CCL	B	-0.09%
AMP	A	-0.09%
CHRW	C	-0.09%
NCLH	B	-0.09%
CF	B	-0.09%
BLK	C	-0.09%
IVZ	B	-0.09%
LYV	A	-0.09%
RMD	C	-0.09%
DXCM	D	-0.09%
IDXX	F	-0.09%
PPL	B	-0.08%
EVRG	A	-0.08%
CARR	D	-0.08%
TT	A	-0.08%
JCI	C	-0.08%
PH	A	-0.08%
GNRC	B	-0.08%
UNP	C	-0.08%
WYNN	D	-0.08%
NSC	B	-0.08%
CMI	A	-0.08%
HII	D	-0.08%
BX	A	-0.08%
ODFL	B	-0.08%
NTRS	A	-0.08%
LVS	C	-0.08%
MOS	F	-0.08%
JBHT	C	-0.08%
CSX	B	-0.08%
LHX	C	-0.08%
FMC	D	-0.08%
BEN	C	-0.08%
TROW	B	-0.08%
RCL	A	-0.08%
UPS	C	-0.08%
LYB	F	-0.07%
SW	A	-0.07%
PPG	F	-0.07%
CZR	F	-0.07%
COP	C	-0.07%
MGM	D	-0.07%
MRO	B	-0.07%
APA	D	-0.07%
DOW	F	-0.07%
HES	B	-0.07%
PNW	B	-0.07%
CE	F	-0.07%
ALLE	D	-0.07%
ES	D	-0.07%
FDX	B	-0.07%
PCG	A	-0.07%
SRE	A	-0.07%
HWM	A	-0.07%
KEY	B	-0.06%
RF	A	-0.06%
PNC	B	-0.06%
MTB	A	-0.06%
EW	C	-0.06%
PYPL	B	-0.06%
AMT	D	-0.06%
BSX	B	-0.06%
IP	B	-0.06%
KIM	A	-0.06%
REG	B	-0.06%
AVY	D	-0.06%
FRT	B	-0.06%
PLD	D	-0.06%
SBAC	D	-0.06%
VICI	C	-0.06%
CCI	D	-0.06%
O	D	-0.06%
SPG	B	-0.06%
IRM	D	-0.06%
TDG	D	-0.06%
SHW	A	-0.06%
AXP	A	-0.05%
APD	A	-0.05%
SOLV	C	-0.05%
IFF	D	-0.05%
ECL	D	-0.05%
BAX	D	-0.05%
WST	C	-0.05%
TFX	F	-0.05%
EMN	D	-0.05%
ALB	C	-0.05%
DD	D	-0.05%
FIS	C	-0.05%
JKHY	D	-0.05%
HBAN	A	-0.05%
TFC	A	-0.05%
USB	A	-0.05%
CFG	B	-0.05%
FITB	A	-0.05%
EFX	F	-0.04%
MCO	B	-0.04%
CBRE	B	-0.04%
CSGP	D	-0.04%
GPN	B	-0.04%
SPGI	C	-0.04%
FDS	B	-0.04%
NDAQ	A	-0.04%
CPAY	A	-0.04%
MKTX	D	-0.04%
MSCI	C	-0.04%
ROK	B	-0.03%
VLTO	D	-0.03%
EMR	A	-0.03%
NDSN	B	-0.03%
FTV	C	-0.03%
TRMB	B	-0.03%
BRO	B	-0.03%