AVSU vs. PFM ETF Comparison

Comparison of Avantis Responsible U.S. Equity ETF (AVSU) to PowerShares Dividend Achievers (PFM)

AVSU

Avantis Responsible U.S. Equity ETF

AVSU Description

Avantis Responsible U.S. Equity ETF is an exchange traded fund launched and managed by American Century Investment Management Inc. The fund invests in public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors. It invests in value stocks of small-cap companies. It invests in stocks of companies that are deemed socially conscious in their business dealings and directly promote environmental responsibility. It seeks to benchmark the performance of its portfolio against the Russell 3000 Index. The fund employs proprietary research to create its portfolio. Avantis Responsible U.S. Equity ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$68.23

Average Daily Volume

9,836

Number of Holdings ^*

1244

* may have additional holdings in another (foreign) market

PFM

PowerShares Dividend Achievers

PFM Description

The PowerShares Dividend AchieversTM Portfolio (Fund) seeks to replicate, before fees and expenses, the NASDAQ US Broad Dividend AchieversTM Index (Index), which is designed to identify a diversified group of dividend-paying companies. The Fund will normally invest at least 90% of its total assets in dividend paying common stocks that comprise Index. These companies have increased their annual dividend for 10 or more consecutive fiscal years. The Fund and the Index are reconstituted annually in January and rebalanced quarterly in January, April, July and October. Effective December 28, 2012, the NADAQ OMX Group, Inc., replaced Mergent, Inc., as the Index Provider of the Index. Effective February 25, 2013, the name of the Index changed from Broad Dividend Achievers Index to NASDAQ US Broad Dividend Achievers Index. There will be no change to the methodology by which NASDAQ OMX Group, Inc., the Index Provider, calculates the Index. Please see the Fund’s prospectus supplement for more information. On February 25, 2013, NASDAQ took the place of the NYSE as the official Index data source.

Grade (RS Rating)

Last Trade

$47.63

Average Daily Volume

24,913

Number of Holdings ^*

416

* may have additional holdings in another (foreign) market

Performance

Period	AVSU	PFM
30 Days	2.84%	0.87%
60 Days	4.69%	2.40%
90 Days	5.92%	4.69%
12 Months	30.85%	25.85%

284 Overlapping Holdings

Symbol	Grade	Weight in AVSU	Weight in PFM	Overlap
A	D	0.05%	0.16%	0.05%
AAPL	C	5.26%	3.9%	3.9%
ABBV	F	0.47%	1.27%	0.47%
ABT	B	0.21%	0.88%	0.21%
ACN	B	0.31%	0.95%	0.31%
ADI	D	0.12%	0.45%	0.12%
ADM	D	0.01%	0.11%	0.01%
ADP	A	0.38%	0.53%	0.38%
AFG	A	0.08%	0.05%	0.05%
AFL	B	0.31%	0.27%	0.27%
AGCO	D	0.04%	0.03%	0.03%
AGM	B	0.02%	0.01%	0.01%
AGO	B	0.04%	0.02%	0.02%
AIT	B	0.05%	0.04%	0.04%
AIZ	A	0.06%	0.05%	0.05%
AJG	A	0.08%	0.28%	0.08%
AL	B	0.05%	0.02%	0.02%
ALB	B	0.04%	0.05%	0.04%
ALL	A	0.2%	0.23%	0.2%
AMGN	F	0.28%	0.65%	0.28%
AMP	A	0.45%	0.24%	0.24%
AMSF	B	0.01%	0.0%	0.0%
ANDE	D	0.02%	0.01%	0.01%
AON	A	0.11%	0.36%	0.11%
AOS	F	0.07%	0.04%	0.04%
APH	A	0.08%	0.37%	0.08%
APOG	C	0.02%	0.01%	0.01%
ASB	B	0.04%	0.02%	0.02%
ASH	F	0.03%	0.02%	0.02%
ATR	B	0.05%	0.05%	0.05%
AUB	B	0.02%	0.02%	0.02%
AVGO	D	0.88%	3.32%	0.88%
AVNT	B	0.02%	0.02%	0.02%
AVT	C	0.04%	0.02%	0.02%
AVY	F	0.04%	0.07%	0.04%
AWK	C	0.01%	0.11%	0.01%
AXS	A	0.09%	0.03%	0.03%
BAC	A	0.54%	1.56%	0.54%
BAH	F	0.05%	0.08%	0.05%
BANF	B	0.02%	0.02%	0.02%
BBY	D	0.14%	0.08%	0.08%
BC	C	0.06%	0.02%	0.02%
BCPC	B	0.0%	0.02%	0.0%
BDX	F	0.05%	0.28%	0.05%
BEN	C	0.03%	0.05%	0.03%
BK	A	0.21%	0.25%	0.21%
BLK	B	0.19%	0.67%	0.19%
BMI	B	0.02%	0.03%	0.02%
BMY	B	0.28%	0.5%	0.28%
BOKF	B	0.03%	0.03%	0.03%
BR	A	0.05%	0.12%	0.05%
BRC	D	0.02%	0.01%	0.01%
BRO	B	0.02%	0.13%	0.02%
CAH	B	0.09%	0.13%	0.09%
CASS	C	0.01%	0.0%	0.0%
CB	C	0.29%	0.5%	0.29%
CBOE	C	0.04%	0.09%	0.04%
CBSH	B	0.05%	0.04%	0.04%
CBU	B	0.02%	0.02%	0.02%
CCOI	B	0.0%	0.02%	0.0%
CDW	F	0.06%	0.1%	0.06%
CFR	B	0.04%	0.04%	0.04%
CHCO	B	0.01%	0.01%	0.01%
CHD	A	0.07%	0.12%	0.07%
CHE	D	0.02%	0.04%	0.02%
CHRW	B	0.03%	0.06%	0.03%
CINF	A	0.1%	0.1%	0.1%
CL	D	0.23%	0.33%	0.23%
CLX	A	0.08%	0.09%	0.08%
CMCSA	B	0.41%	0.72%	0.41%
CME	B	0.15%	0.35%	0.15%
CMI	A	0.29%	0.21%	0.21%
CNO	B	0.04%	0.02%	0.02%
CNS	B	0.03%	0.02%	0.02%
COR	B	0.13%	0.21%	0.13%
COST	A	0.85%	1.76%	0.85%
CSCO	B	0.16%	1.0%	0.16%
CSGS	B	0.02%	0.01%	0.01%
CSL	C	0.17%	0.09%	0.09%
CSX	C	0.33%	0.29%	0.29%
CTAS	B	0.16%	0.38%	0.16%
DCI	B	0.07%	0.04%	0.04%
DDS	B	0.02%	0.02%	0.02%
DFS	B	0.34%	0.19%	0.19%
DGX	A	0.01%	0.08%	0.01%
DHR	F	0.11%	0.72%	0.11%
DOV	A	0.03%	0.12%	0.03%
EIX	B	0.13%	0.14%	0.13%
ELV	F	0.23%	0.4%	0.23%
EMR	B	0.02%	0.32%	0.02%
ENSG	C	0.07%	0.04%	0.04%
ERIE	D	0.05%	0.08%	0.05%
ETN	A	0.12%	0.62%	0.12%
EVR	B	0.1%	0.05%	0.05%
EXPD	C	0.15%	0.07%	0.07%
EXPO	D	0.01%	0.02%	0.01%
FAF	A	0.06%	0.03%	0.03%
FAST	B	0.23%	0.2%	0.2%
FDS	B	0.07%	0.08%	0.07%
FELE	B	0.03%	0.02%	0.02%
FFIN	B	0.03%	0.03%	0.03%
FIBK	B	0.01%	0.01%	0.01%
FITB	B	0.18%	0.14%	0.14%
FIX	A	0.16%	0.07%	0.07%
FLIC	B	0.0%	0.0%	0.0%
FNF	B	0.07%	0.07%	0.07%
FRME	B	0.02%	0.01%	0.01%
GABC	B	0.01%	0.01%	0.01%
GATX	A	0.06%	0.02%	0.02%
GFF	A	0.04%	0.02%	0.02%
GGG	B	0.07%	0.07%	0.07%
GL	C	0.08%	0.04%	0.04%
GLW	B	0.23%	0.17%	0.17%
GPC	D	0.09%	0.07%	0.07%
GS	A	0.62%	0.8%	0.62%
GWW	B	0.33%	0.25%	0.25%
HBNC	B	0.0%	0.0%	0.0%
HD	B	0.46%	1.76%	0.46%
HFWA	C	0.0%	0.0%	0.0%
HIG	B	0.27%	0.15%	0.15%
HMN	B	0.01%	0.01%	0.01%
HNI	B	0.03%	0.01%	0.01%
HOMB	A	0.03%	0.03%	0.03%
HPQ	B	0.04%	0.16%	0.04%
HSY	F	0.08%	0.11%	0.08%
HUBB	B	0.06%	0.1%	0.06%
HUM	C	0.08%	0.14%	0.08%
HVT	D	0.0%	0.0%	0.0%
HWKN	B	0.04%	0.01%	0.01%
IBM	C	0.19%	0.83%	0.19%
ICE	C	0.06%	0.39%	0.06%
IEX	C	0.02%	0.07%	0.02%
INDB	B	0.02%	0.01%	0.01%
INTU	B	0.13%	0.82%	0.13%
IPG	D	0.03%	0.04%	0.03%
ITT	A	0.06%	0.05%	0.05%
ITW	B	0.15%	0.35%	0.15%
JBHT	C	0.12%	0.08%	0.08%
JKHY	D	0.07%	0.05%	0.05%
JNJ	C	0.58%	1.61%	0.58%
JPM	A	1.34%	3.01%	1.34%
KAI	B	0.01%	0.02%	0.01%
KEY	B	0.13%	0.08%	0.08%
KLAC	F	0.4%	0.36%	0.36%
KMB	C	0.17%	0.2%	0.17%
KO	D	0.31%	1.15%	0.31%
KR	B	0.28%	0.18%	0.18%
KWR	C	0.02%	0.01%	0.01%
LAD	A	0.1%	0.04%	0.04%
LANC	C	0.02%	0.02%	0.02%
LECO	C	0.1%	0.05%	0.05%
LFUS	D	0.02%	0.03%	0.02%
LHX	C	0.03%	0.2%	0.03%
LII	A	0.08%	0.09%	0.08%
LKFN	C	0.01%	0.01%	0.01%
LNN	B	0.01%	0.01%	0.01%
LOW	C	0.13%	0.66%	0.13%
MA	B	0.65%	2.06%	0.65%
MAN	F	0.02%	0.01%	0.01%
MAS	D	0.03%	0.07%	0.03%
MATX	C	0.08%	0.02%	0.02%
MBWM	B	0.01%	0.0%	0.0%
MCD	D	0.17%	0.9%	0.17%
MCK	A	0.11%	0.34%	0.11%
MCO	B	0.11%	0.37%	0.11%
MDLZ	F	0.11%	0.37%	0.11%
MDT	D	0.12%	0.48%	0.12%
MET	A	0.21%	0.25%	0.21%
MKC	C	0.01%	0.08%	0.01%
MKTX	D	0.04%	0.04%	0.04%
MMC	B	0.12%	0.48%	0.12%
MORN	B	0.01%	0.06%	0.01%
MRK	D	0.61%	1.06%	0.61%
MS	A	0.44%	0.94%	0.44%
MSA	F	0.01%	0.03%	0.01%
MSFT	D	4.87%	3.91%	3.91%
MSI	B	0.07%	0.35%	0.07%
NBTB	B	0.02%	0.01%	0.01%
NDAQ	A	0.01%	0.2%	0.01%
NDSN	B	0.02%	0.06%	0.02%
NKE	F	0.24%	0.39%	0.24%
NOC	D	0.04%	0.31%	0.04%
NSP	F	0.02%	0.01%	0.01%
NUE	C	0.17%	0.15%	0.15%
NXST	C	0.01%	0.02%	0.01%
ODC	B	0.0%	0.0%	0.0%
ORCL	A	0.2%	2.21%	0.2%
ORI	A	0.09%	0.04%	0.04%
OSK	C	0.07%	0.03%	0.03%
OZK	B	0.05%	0.02%	0.02%
PAYX	B	0.18%	0.22%	0.18%
PB	B	0.04%	0.03%	0.03%
PEP	F	0.32%	0.94%	0.32%
PFC	B	0.01%	0.0%	0.0%
PFE	F	0.2%	0.61%	0.2%
PFG	D	0.15%	0.09%	0.09%
PG	C	0.37%	1.73%	0.37%
PII	F	0.03%	0.02%	0.02%
PKG	A	0.2%	0.09%	0.09%
PNC	B	0.23%	0.35%	0.23%
POOL	C	0.05%	0.06%	0.05%
PPG	F	0.03%	0.12%	0.03%
PRI	B	0.13%	0.04%	0.04%
PRU	A	0.17%	0.2%	0.17%
QCOM	F	0.44%	0.79%	0.44%
R	B	0.1%	0.03%	0.03%
RF	A	0.16%	0.1%	0.1%
RGA	A	0.13%	0.07%	0.07%
RGLD	C	0.05%	0.04%	0.04%
RHI	C	0.08%	0.03%	0.03%
RJF	A	0.19%	0.15%	0.15%
RLI	A	0.03%	0.03%	0.03%
RMD	C	0.03%	0.15%	0.03%
RNR	C	0.07%	0.06%	0.06%
ROK	C	0.03%	0.14%	0.03%
ROP	B	0.03%	0.26%	0.03%
RPM	A	0.07%	0.08%	0.07%
RRX	B	0.03%	0.05%	0.03%
RS	B	0.12%	0.07%	0.07%
SBSI	C	0.01%	0.0%	0.0%
SBUX	A	0.07%	0.49%	0.07%
SCI	B	0.06%	0.05%	0.05%
SCL	C	0.01%	0.01%	0.01%
SCVL	F	0.01%	0.0%	0.0%
SEIC	B	0.08%	0.05%	0.05%
SFNC	C	0.01%	0.01%	0.01%
SHW	B	0.16%	0.41%	0.16%
SIGI	C	0.05%	0.03%	0.03%
SJM	D	0.05%	0.05%	0.05%
SLGN	A	0.01%	0.02%	0.01%
SMBC	B	0.01%	0.0%	0.0%
SNA	A	0.12%	0.08%	0.08%
SON	F	0.05%	0.02%	0.02%
SPGI	C	0.2%	0.68%	0.2%
SPTN	D	0.01%	0.0%	0.0%
SSD	F	0.06%	0.03%	0.03%
STBA	B	0.01%	0.01%	0.01%
STLD	B	0.18%	0.09%	0.09%
STT	B	0.12%	0.12%	0.12%
SWK	D	0.01%	0.06%	0.01%
SXI	B	0.01%	0.01%	0.01%
SYBT	B	0.01%	0.01%	0.01%
SYK	B	0.11%	0.64%	0.11%
SYY	D	0.07%	0.16%	0.07%
TCBK	C	0.0%	0.01%	0.0%
TFC	A	0.17%	0.27%	0.17%
TGT	F	0.35%	0.31%	0.31%
THFF	B	0.01%	0.0%	0.0%
THG	A	0.05%	0.03%	0.03%
THO	B	0.05%	0.03%	0.03%
TKR	D	0.03%	0.02%	0.02%
TNC	D	0.02%	0.01%	0.01%
TOWN	B	0.02%	0.01%	0.01%
TRN	B	0.03%	0.01%	0.01%
TROW	B	0.08%	0.11%	0.08%
TRV	B	0.34%	0.26%	0.26%
TSCO	D	0.22%	0.13%	0.13%
TT	A	0.09%	0.4%	0.09%
TTC	C	0.03%	0.04%	0.03%
TXN	C	0.44%	0.82%	0.44%
UFPI	C	0.07%	0.03%	0.03%
UMBF	B	0.03%	0.03%	0.03%
UNH	B	0.39%	2.35%	0.39%
UNM	A	0.1%	0.06%	0.06%
UNP	C	0.52%	0.62%	0.52%
UPS	C	0.29%	0.43%	0.29%
USB	A	0.2%	0.34%	0.2%
V	A	0.84%	2.25%	0.84%
VMC	B	0.04%	0.16%	0.04%
VZ	C	0.44%	0.77%	0.44%
WABC	B	0.01%	0.01%	0.01%
WAFD	B	0.02%	0.01%	0.01%
WBA	F	0.01%	0.03%	0.01%
WMT	A	0.82%	2.92%	0.82%
WRB	A	0.11%	0.1%	0.1%
WSBC	B	0.01%	0.01%	0.01%
WSM	C	0.17%	0.07%	0.07%
WSO	A	0.05%	0.08%	0.05%
WST	C	0.06%	0.1%	0.06%
WTFC	A	0.07%	0.04%	0.04%
WTS	B	0.02%	0.02%	0.02%
XYL	D	0.05%	0.13%	0.05%
ZION	B	0.08%	0.04%	0.04%
ZTS	D	0.16%	0.35%	0.16%

AVSU Overweight 960 Positions Relative to PFM

Symbol	Grade	Weight
NVDA	B	3.51%
AMZN	C	2.5%
META	D	2.48%
GOOGL	C	1.66%
GOOG	C	1.37%
TSLA	B	0.92%
VRTX	D	0.61%
AMAT	F	0.58%
LLY	F	0.57%
TJX	A	0.56%
T	A	0.51%
TMUS	B	0.49%
GILD	C	0.47%
MU	D	0.47%
AMD	F	0.46%
GM	C	0.43%
LRCX	F	0.43%
C	A	0.41%
DE	B	0.38%
PGR	A	0.38%
FDX	B	0.37%
COF	C	0.36%
MELI	C	0.34%
PANW	B	0.34%
NFLX	A	0.33%
CMG	B	0.31%
BKNG	A	0.31%
URI	C	0.3%
PCAR	B	0.29%
SYF	B	0.28%
NSC	B	0.27%
KKR	A	0.27%
ROST	D	0.26%
PHM	D	0.26%
AXP	A	0.26%
SCHW	B	0.25%
ACGL	C	0.24%
ANET	C	0.24%
F	C	0.24%
ODFL	C	0.23%
AIG	B	0.23%
BX	A	0.22%
DECK	A	0.22%
APO	B	0.22%
LEN	D	0.22%
MTB	A	0.22%
SFM	A	0.22%
VRT	B	0.21%
REGN	F	0.21%
LULU	C	0.2%
EQH	C	0.2%
DHI	F	0.19%
NOW	A	0.19%
NVR	D	0.19%
JBL	C	0.18%
INTC	C	0.18%
BSX	A	0.17%
ADBE	C	0.17%
FLEX	B	0.16%
CEG	C	0.16%
CPNG	D	0.16%
ISRG	A	0.16%
ULTA	F	0.16%
MOH	F	0.16%
COIN	C	0.15%
TTWO	A	0.15%
BURL	B	0.15%
TPR	B	0.15%
TOL	B	0.14%
BLDR	D	0.14%
VTRS	A	0.14%
CRM	B	0.14%
OC	A	0.14%
TXRH	B	0.14%
GRMN	B	0.14%
CDNS	B	0.14%
ON	D	0.14%
CNC	D	0.13%
IT	C	0.13%
CFG	B	0.13%
DIS	B	0.13%
CPRT	B	0.13%
VRSK	A	0.13%
KVUE	A	0.13%
JEF	A	0.12%
TMO	F	0.12%
CTSH	B	0.12%
CBRE	B	0.12%
MLI	B	0.12%
TER	F	0.12%
GDDY	A	0.12%
DRI	B	0.12%
SAIA	B	0.12%
NTRS	A	0.11%
LPX	B	0.11%
IDXX	F	0.11%
ALLY	C	0.11%
NEM	D	0.11%
ANF	F	0.11%
SF	B	0.11%
FTNT	C	0.11%
UTHR	C	0.11%
EWBC	A	0.11%
HBAN	A	0.1%
NXPI	D	0.1%
FYBR	C	0.1%
DKS	D	0.1%
TMHC	C	0.1%
BG	D	0.1%
ADSK	A	0.1%
UBER	F	0.1%
KMX	B	0.1%
MOD	A	0.1%
LPLA	A	0.1%
BALL	F	0.1%
WMS	F	0.1%
CG	B	0.1%
EG	C	0.1%
ORLY	B	0.1%
FCNCA	A	0.09%
DELL	B	0.09%
CARR	C	0.09%
BCC	B	0.09%
BPOP	C	0.09%
KEYS	A	0.09%
IR	B	0.09%
ALV	C	0.09%
RL	C	0.09%
NTAP	C	0.09%
HLI	A	0.09%
PYPL	B	0.09%
FHN	A	0.09%
EXC	C	0.09%
FICO	B	0.09%
FOXA	A	0.09%
WAT	C	0.08%
BIIB	F	0.08%
PIPR	A	0.08%
EW	C	0.08%
GPK	C	0.08%
AN	C	0.08%
CMA	B	0.08%
EA	A	0.08%
MRVL	B	0.08%
JLL	D	0.08%
SNV	C	0.08%
SKX	D	0.08%
SW	A	0.08%
AWI	A	0.08%
SLM	A	0.08%
SNPS	B	0.08%
CRWD	B	0.08%
LH	B	0.08%
VOYA	B	0.08%
DD	C	0.08%
CI	D	0.08%
SIG	B	0.07%
PLTR	B	0.07%
KD	B	0.07%
TAP	C	0.07%
HPE	B	0.07%
WAL	B	0.07%
CPAY	A	0.07%
MKL	A	0.07%
STZ	D	0.07%
FI	A	0.07%
OMF	A	0.07%
LSTR	D	0.07%
HRI	C	0.07%
WCC	B	0.07%
CMC	B	0.07%
MTH	D	0.07%
GAP	C	0.07%
MTG	C	0.07%
Z	A	0.07%
DLTR	F	0.07%
STRL	A	0.07%
IDCC	B	0.07%
KBH	D	0.06%
JAZZ	B	0.06%
MHO	D	0.06%
AYI	B	0.06%
ESNT	F	0.06%
ATKR	D	0.06%
WBS	A	0.06%
M	F	0.06%
RDN	D	0.06%
CLH	C	0.06%
FND	D	0.06%
LOPE	C	0.06%
AKAM	D	0.06%
HCA	F	0.06%
AME	A	0.06%
PH	A	0.06%
WAB	B	0.06%
KNSL	B	0.06%
GMS	B	0.05%
YUM	D	0.05%
TKO	A	0.05%
FSLR	F	0.05%
GNRC	C	0.05%
PAG	B	0.05%
FN	C	0.05%
CARG	B	0.05%
VIRT	A	0.05%
HOG	D	0.05%
ARES	A	0.05%
DAR	C	0.05%
TTD	B	0.05%
DG	F	0.05%
SMCI	F	0.05%
DXC	B	0.05%
STX	C	0.05%
OMC	C	0.05%
IQV	F	0.05%
WTM	A	0.05%
KNF	B	0.05%
DXCM	C	0.05%
EXEL	B	0.05%
TPH	D	0.05%
WTW	B	0.05%
TREX	C	0.05%
ZBH	C	0.05%
MANH	D	0.05%
INCY	C	0.05%
XPO	B	0.05%
ABG	C	0.05%
COLB	B	0.05%
CIEN	C	0.05%
COHR	B	0.05%
HALO	F	0.05%
WDC	D	0.05%
KTB	B	0.05%
BWA	D	0.05%
MASI	B	0.04%
RUSHA	C	0.04%
ENTG	D	0.04%
WSC	F	0.04%
SLVM	B	0.04%
EFX	F	0.04%
LW	C	0.04%
JCI	B	0.04%
EBAY	D	0.04%
GNTX	C	0.04%
YETI	D	0.04%
ARCB	C	0.04%
FOX	A	0.04%
BHF	C	0.04%
SHOO	F	0.04%
EHC	B	0.04%
VEEV	C	0.04%
JHG	B	0.04%
DOX	D	0.04%
GHC	B	0.04%
WDAY	B	0.04%
BMRN	F	0.04%
OTIS	C	0.04%
NMIH	C	0.04%
CHH	A	0.04%
VSCO	C	0.04%
ABNB	C	0.04%
AEO	F	0.04%
PFSI	C	0.04%
MWA	B	0.04%
ONTO	F	0.04%
CBZ	B	0.04%
KNX	C	0.04%
FBP	C	0.04%
TEX	F	0.04%
MC	C	0.04%
GIS	D	0.04%
ONB	C	0.04%
DASH	B	0.04%
PNFP	B	0.04%
MRNA	F	0.04%
AAON	B	0.04%
WD	D	0.04%
IVZ	B	0.04%
FNB	A	0.04%
KDP	F	0.04%
PATK	C	0.04%
IBP	D	0.04%
SKY	A	0.04%
ALGN	D	0.04%
CTLT	C	0.04%
CVNA	B	0.04%
WWD	C	0.04%
AZO	C	0.04%
NWSA	A	0.04%
PVH	C	0.04%
CVS	D	0.04%
ALSN	B	0.04%
WHR	B	0.04%
KLIC	B	0.03%
UCB	A	0.03%
BOH	B	0.03%
PARA	C	0.03%
SANM	B	0.03%
MLKN	F	0.03%
MHK	D	0.03%
URBN	C	0.03%
GBCI	B	0.03%
GME	C	0.03%
ROCK	C	0.03%
APAM	B	0.03%
VLY	B	0.03%
CAKE	C	0.03%
GT	C	0.03%
LRN	A	0.03%
CCS	D	0.03%
QLYS	B	0.03%
MGRC	B	0.03%
NVT	B	0.03%
CROX	D	0.03%
HEES	C	0.03%
DORM	B	0.03%
MTX	B	0.03%
LNC	C	0.03%
RH	C	0.03%
GWRE	A	0.03%
TBBK	B	0.03%
GBX	A	0.03%
LCII	C	0.03%
SOFI	B	0.03%
BKU	A	0.03%
GNW	A	0.03%
FIVE	F	0.03%
FIS	C	0.03%
MEDP	D	0.03%
WBD	B	0.03%
OLLI	D	0.03%
CCK	D	0.03%
IRDM	D	0.03%
LYV	A	0.03%
SNOW	B	0.03%
HUBG	A	0.03%
KSS	F	0.03%
MTD	F	0.03%
NYT	D	0.03%
PHIN	A	0.03%
AXTA	B	0.03%
ENS	F	0.03%
LEA	F	0.03%
UHAL	D	0.03%
CSGP	D	0.03%
LAUR	A	0.03%
ARW	D	0.03%
ALLE	C	0.03%
KFY	B	0.03%
SATS	D	0.03%
SWKS	F	0.03%
HOLX	D	0.03%
APTV	F	0.03%
HUN	F	0.03%
CHTR	C	0.03%
BOOT	C	0.03%
CPRI	F	0.03%
MKSI	C	0.03%
IFF	D	0.03%
TPX	B	0.03%
DOCU	B	0.03%
K	A	0.03%
NBIX	C	0.03%
BFH	C	0.03%
QCRH	B	0.02%
NBHC	C	0.02%
ESE	B	0.02%
SAH	C	0.02%
JBT	B	0.02%
QRVO	F	0.02%
OLED	F	0.02%
LKQ	F	0.02%
PLXS	B	0.02%
MMI	C	0.02%
FTDR	B	0.02%
SYNA	C	0.02%
AZEK	A	0.02%
DHT	F	0.02%
CAL	F	0.02%
SPSC	D	0.02%
NPO	A	0.02%
WEX	D	0.02%
CRAI	C	0.02%
PAYO	A	0.02%
EFSC	B	0.02%
VLTO	C	0.02%
PTC	B	0.02%
NX	C	0.02%
AMKR	D	0.02%
AGIO	C	0.02%
UNFI	A	0.02%
NTNX	B	0.02%
HRB	D	0.02%
TRMK	C	0.02%
MAT	D	0.02%
KALU	C	0.02%
SASR	B	0.02%
PINC	B	0.02%
CPB	D	0.02%
CORT	B	0.02%
TFX	F	0.02%
TNET	F	0.02%
GEF	A	0.02%
NGVT	B	0.02%
DNOW	B	0.02%
UCTT	D	0.02%
TTMI	C	0.02%
NAVI	F	0.02%
KFRC	D	0.02%
CACC	D	0.02%
VCTR	B	0.02%
BRKR	D	0.02%
OXM	F	0.02%
HHH	B	0.02%
BAX	F	0.02%
FFBC	B	0.02%
HAE	C	0.02%
BKE	B	0.02%
TTEK	F	0.02%
ENVA	B	0.02%
ECPG	C	0.02%
STC	B	0.02%
LC	A	0.02%
TRU	D	0.02%
SCS	C	0.02%
PPBI	C	0.02%
RXO	D	0.02%
CENTA	C	0.02%
CARS	C	0.02%
INSM	C	0.02%
LMB	B	0.02%
PRK	B	0.02%
PLAB	C	0.02%
GMED	A	0.02%
APG	B	0.02%
ENPH	F	0.02%
HSIC	C	0.02%
LEN	D	0.02%
ZM	C	0.02%
CVBF	A	0.02%
GVA	A	0.02%
EL	F	0.02%
FHI	B	0.02%
PSTG	D	0.02%
WU	F	0.02%
PAYC	B	0.02%
ATGE	B	0.02%
MSM	C	0.02%
VC	F	0.02%
PCT	C	0.02%
JWN	D	0.02%
MYRG	B	0.02%
VRSN	C	0.02%
SNDR	B	0.02%
PRG	C	0.02%
LBRDK	C	0.02%
DVAX	C	0.02%
PFS	B	0.02%
CNM	D	0.02%
PINS	F	0.02%
ILMN	C	0.02%
DVA	C	0.02%
ZWS	B	0.02%
HTLF	B	0.02%
MIDD	C	0.02%
FFIV	B	0.02%
EXLS	B	0.02%
ACLS	F	0.02%
KMT	B	0.02%
ROL	B	0.02%
NSIT	F	0.02%
GOLF	B	0.02%
GPN	B	0.02%
BXC	B	0.02%
FBIN	D	0.02%
LZB	B	0.02%
WS	C	0.02%
FL	F	0.02%
JNPR	D	0.02%
WH	B	0.02%
FHB	B	0.02%
HQY	A	0.02%
VSH	F	0.02%
VFC	C	0.02%
PSMT	D	0.02%
PRDO	B	0.02%
ORA	B	0.02%
HXL	F	0.02%
CRI	F	0.02%
RMBS	B	0.02%
GXO	B	0.02%
WGO	C	0.02%
MPWR	F	0.02%
AAP	D	0.02%
COLM	C	0.02%
SEE	C	0.02%
TW	A	0.02%
DDOG	A	0.02%
CRVL	B	0.02%
MSCI	C	0.02%
GEN	B	0.02%
CRUS	D	0.02%
BANR	B	0.02%
TYL	B	0.02%
RPRX	D	0.02%
GRBK	D	0.02%
TILE	B	0.02%
AEIS	C	0.02%
CVCO	A	0.02%
KOP	C	0.01%
NFBK	C	0.01%
ZUMZ	B	0.01%
SHEN	F	0.01%
RGEN	D	0.01%
FNLC	C	0.01%
ENV	B	0.01%
HAS	D	0.01%
MSGE	F	0.01%
MMSI	A	0.01%
KURA	F	0.01%
RLGT	B	0.01%
GCO	C	0.01%
OSBC	A	0.01%
CNXC	F	0.01%
VITL	D	0.01%
RKT	F	0.01%
BSRR	B	0.01%
MCS	B	0.01%
CVEO	F	0.01%
EBF	F	0.01%
CNXN	C	0.01%
CMRE	C	0.01%
AMC	C	0.01%
LYTS	B	0.01%
NOVT	D	0.01%
DHIL	B	0.01%
VECO	F	0.01%
BCML	B	0.01%
CAC	C	0.01%
ACNB	B	0.01%
AZZ	A	0.01%
THRM	F	0.01%
LITE	B	0.01%
FMBH	B	0.01%
CNA	C	0.01%
BHB	C	0.01%
CHEF	A	0.01%
ESI	B	0.01%
PTCT	B	0.01%
BJRI	C	0.01%
XNCR	B	0.01%
NATL	B	0.01%
TRST	B	0.01%
HTBI	B	0.01%
IMAX	B	0.01%
VYX	B	0.01%
AMG	B	0.01%
MMS	F	0.01%
BANC	B	0.01%
IIIN	C	0.01%
ARMK	B	0.01%
HCKT	B	0.01%
IRWD	F	0.01%
PLAY	D	0.01%
SBH	C	0.01%
DNLI	D	0.01%
FCN	F	0.01%
DT	D	0.01%
BY	B	0.01%
ROKU	D	0.01%
GTES	A	0.01%
THR	B	0.01%
FTV	C	0.01%
ESTC	C	0.01%
COHU	C	0.01%
ZD	B	0.01%
ZS	B	0.01%
CFB	B	0.01%
MTN	C	0.01%
KN	B	0.01%
AI	B	0.01%
ASGN	F	0.01%
ARHS	F	0.01%
NET	B	0.01%
ACT	C	0.01%
TNL	A	0.01%
BILL	A	0.01%
UAA	C	0.01%
EGBN	B	0.01%
PLUS	F	0.01%
MARA	B	0.01%
OPEN	F	0.01%
ETD	C	0.01%
LQDT	B	0.01%
FOR	F	0.01%
AMTB	B	0.01%
OMI	F	0.01%
ALKS	C	0.01%
HZO	F	0.01%
PDCO	F	0.01%
RYI	C	0.01%
DFH	D	0.01%
FBIZ	B	0.01%
FSBW	C	0.01%
VKTX	F	0.01%
UA	C	0.01%
PEN	B	0.01%
BECN	B	0.01%
CNNE	B	0.01%
ATEN	A	0.01%
BHE	C	0.01%
CWK	C	0.01%
IBCP	B	0.01%
GFS	C	0.01%
GES	F	0.01%
SCHL	F	0.01%
PRGS	A	0.01%
SCSC	C	0.01%
CHWY	B	0.01%
USFD	A	0.01%
W	D	0.01%
ACHC	F	0.01%
NNI	D	0.01%
DBX	B	0.01%
LSCC	D	0.01%
TRMB	B	0.01%
ALNY	D	0.01%
EXAS	D	0.01%
OSCR	D	0.01%
PODD	C	0.01%
ALG	B	0.01%
LOVE	A	0.01%
CGNX	D	0.01%
MBUU	B	0.01%
OSW	B	0.01%
UPBD	B	0.01%
SNX	D	0.01%
AXL	C	0.01%
RVTY	F	0.01%
ACM	B	0.01%
FOUR	A	0.01%
PCTY	C	0.01%
ACIW	B	0.01%
NGVC	A	0.01%
TDC	D	0.01%
CRL	D	0.01%
HWM	A	0.01%
CPF	B	0.01%
UNF	B	0.01%
HBI	B	0.01%
CYTK	F	0.01%
BBWI	C	0.01%
AMN	F	0.01%
BOX	B	0.01%
IPGP	D	0.01%
GEHC	D	0.01%
HTH	C	0.01%
SAIC	F	0.01%
JELD	F	0.01%
DOLE	D	0.01%
ARVN	F	0.01%
KBR	F	0.01%
YELP	C	0.01%
WNC	C	0.01%
BSY	F	0.01%
DFIN	D	0.01%
LEVI	F	0.01%
ZG	A	0.01%
BBSI	B	0.01%
PEBO	B	0.01%
BZH	C	0.01%
XRAY	F	0.01%
ELAN	D	0.01%
FBNC	B	0.01%
RUSHB	C	0.01%
BHLB	B	0.01%
ODP	F	0.01%
BLMN	F	0.01%
MDB	B	0.01%
MRC	B	0.01%
KW	C	0.01%
PLNT	A	0.01%
MRTN	D	0.01%
J	D	0.01%
LGND	C	0.01%
GLOB	B	0.01%
RNST	B	0.01%
ETSY	D	0.01%
JBI	F	0.01%
BERY	C	0.01%
UTI	B	0.01%
CPRX	C	0.01%
BBW	C	0.01%
BDC	C	0.01%
CR	A	0.01%
SUPN	C	0.01%
CTS	C	0.01%
SONO	C	0.01%
ANSS	B	0.01%
WEN	D	0.01%
HELE	C	0.01%
SITE	F	0.01%
KMPR	A	0.01%
EEFT	B	0.01%
HSII	B	0.01%
SBCF	B	0.01%
COLL	F	0.01%
AVTR	F	0.01%
DCOM	B	0.01%
SKWD	A	0.01%
EPAC	C	0.01%
FORM	D	0.01%
MTCH	D	0.01%
BLD	D	0.01%
INVA	D	0.01%
MCY	A	0.01%
VBTX	B	0.01%
PSN	D	0.01%
NBN	C	0.01%
NWS	A	0.01%
SSNC	B	0.01%
CBRL	C	0.01%
DLB	B	0.01%
NMRK	C	0.01%
EPAM	B	0.01%
OSIS	A	0.01%
EXTR	C	0.01%
CABO	B	0.01%
AZTA	D	0.01%
BIO	C	0.01%
PNR	A	0.01%
FBK	C	0.01%
LDOS	C	0.01%
WING	D	0.01%
IBTX	B	0.01%
HOV	D	0.01%
FCF	B	0.01%
IONS	F	0.01%
TWLO	A	0.01%
ZBRA	B	0.01%
HOPE	C	0.01%
CVLT	B	0.01%
CASH	B	0.01%
SPB	C	0.01%
DAN	D	0.01%
G	B	0.01%
TECH	F	0.01%
BUSE	B	0.01%
EVTC	B	0.01%
VNT	C	0.01%
KLG	B	0.01%
APPS	F	0.0%
OLO	A	0.0%
UDMY	D	0.0%
ATUS	B	0.0%
NAPA	A	0.0%
ASLE	C	0.0%
SNBR	F	0.0%
TXG	F	0.0%
RLAY	F	0.0%
VERV	F	0.0%
PLCE	C	0.0%
VIAV	C	0.0%
TSE	F	0.0%
ADPT	C	0.0%
TLYS	F	0.0%
PETS	C	0.0%
RVLV	A	0.0%
ALTR	B	0.0%
EPM	A	0.0%
FTRE	D	0.0%
TYRA	F	0.0%
MYE	F	0.0%
MRVI	F	0.0%
SHYF	C	0.0%
NWL	C	0.0%
RCMT	C	0.0%
CATO	D	0.0%
CCSI	C	0.0%
CCRD	B	0.0%
FNKO	D	0.0%
XRX	F	0.0%
VVI	C	0.0%
EVC	C	0.0%
GH	B	0.0%
FOXF	F	0.0%
MRUS	F	0.0%
IBEX	B	0.0%
PLTK	B	0.0%
MQ	D	0.0%
HIMS	B	0.0%
PLRX	D	0.0%
FWRD	D	0.0%
DJCO	B	0.0%
INGN	C	0.0%
FRPH	B	0.0%
DOCS	C	0.0%
RARE	F	0.0%
HLVX	F	0.0%
ALCO	D	0.0%
FROG	C	0.0%
TTEC	F	0.0%
KODK	B	0.0%
CACI	D	0.0%
BPMC	B	0.0%
SMTC	B	0.0%
PRCT	B	0.0%
ACCD	D	0.0%
EPSN	B	0.0%
KAR	B	0.0%
MDGL	B	0.0%
LESL	D	0.0%
AGL	F	0.0%
PCVX	D	0.0%
BFC	B	0.0%
ENTA	F	0.0%
HLF	C	0.0%
EDIT	F	0.0%
NIC	B	0.0%
HUBS	A	0.0%
SEDG	F	0.0%
RGP	F	0.0%
CVGI	F	0.0%
PRO	C	0.0%
VSTS	C	0.0%
TDOC	C	0.0%
RCKT	F	0.0%
TENB	C	0.0%
UFCS	A	0.0%
EMBC	C	0.0%
RNG	C	0.0%
PBI	B	0.0%
HONE	C	0.0%
CEVA	B	0.0%
NTCT	C	0.0%
EYE	C	0.0%
LCID	F	0.0%
SEG	B	0.0%
CSTL	D	0.0%
U	C	0.0%
FMNB	B	0.0%
OPBK	B	0.0%
OBK	C	0.0%
MEI	F	0.0%
BFST	C	0.0%
ANIK	D	0.0%
FBMS	B	0.0%
RIVN	F	0.0%
ZI	D	0.0%
SABR	C	0.0%
MPAA	B	0.0%
MRBK	A	0.0%
NUS	D	0.0%
TRC	F	0.0%
MYPS	C	0.0%
AMAL	B	0.0%
VNDA	C	0.0%
ANAB	F	0.0%
RMR	F	0.0%
NOVA	F	0.0%
HGV	C	0.0%
ALT	C	0.0%
SIRI	C	0.0%
ARRY	F	0.0%
OSUR	F	0.0%
TTGT	B	0.0%
NRC	F	0.0%
THRY	D	0.0%
ACCO	C	0.0%
EBS	C	0.0%
RMAX	C	0.0%
HCAT	D	0.0%
FLGT	F	0.0%
KE	C	0.0%
GEF	A	0.0%
HMST	F	0.0%
TRIP	F	0.0%
USNA	C	0.0%
MODG	F	0.0%
OKTA	C	0.0%
PZZA	F	0.0%
MYGN	F	0.0%
SMAR	B	0.0%
HDSN	F	0.0%
TBI	F	0.0%
B	A	0.0%
TRS	B	0.0%
FLWS	D	0.0%
ZIP	D	0.0%
NEOG	F	0.0%
ASTH	F	0.0%
NTGR	B	0.0%
JAKK	C	0.0%
LBRDA	C	0.0%
IMMR	C	0.0%
HCSG	C	0.0%
PBPB	C	0.0%
VAC	C	0.0%
UHAL	D	0.0%
RPD	B	0.0%
AVNS	F	0.0%
NEO	C	0.0%
MOV	D	0.0%
GEOS	B	0.0%
RUN	F	0.0%
CCRN	F	0.0%
MERC	F	0.0%
SPNT	B	0.0%
RAMP	B	0.0%
TRDA	C	0.0%
LGIH	F	0.0%
DOCN	C	0.0%
CRSP	D	0.0%
ADTN	A	0.0%
BFAM	D	0.0%
CENT	C	0.0%
VPG	F	0.0%
RM	C	0.0%
ASTE	C	0.0%
BELFB	C	0.0%
DNB	B	0.0%
TBPH	B	0.0%
TITN	C	0.0%
GDOT	D	0.0%
UFPT	C	0.0%
TWI	F	0.0%
GOGO	C	0.0%
LEG	F	0.0%
KELYA	F	0.0%
LPRO	B	0.0%
PRAA	D	0.0%
DLX	B	0.0%
ENR	B	0.0%
CLBK	C	0.0%
FMAO	B	0.0%
JBSS	F	0.0%
WRLD	C	0.0%
ST	F	0.0%
PUBM	C	0.0%
HAYW	B	0.0%
ZIMV	D	0.0%
PLYA	B	0.0%
VSAT	F	0.0%
SB	F	0.0%
WOW	C	0.0%
SMP	C	0.0%
SNAP	D	0.0%
ALGM	D	0.0%
CLVT	D	0.0%
JACK	C	0.0%
HTLD	C	0.0%
EPC	F	0.0%
TFSL	A	0.0%
MCFT	C	0.0%
PCB	B	0.0%
MXL	C	0.0%
FC	F	0.0%
RDUS	B	0.0%
FFIC	B	0.0%
RGNX	D	0.0%

AVSU Underweight 132 Positions Relative to PFM

Symbol	Grade	Weight
XOM	B	-2.31%
CVX	A	-1.27%
LIN	C	-0.93%
PM	B	-0.88%
CAT	B	-0.81%
RTX	D	-0.69%
NEE	C	-0.68%
HON	C	-0.64%
LMT	D	-0.55%
PLD	F	-0.46%
SO	C	-0.42%
MO	A	-0.41%
AMT	C	-0.4%
DUK	C	-0.38%
WM	B	-0.38%
GD	D	-0.34%
APD	A	-0.32%
MMM	D	-0.31%
ECL	D	-0.3%
EPD	A	-0.29%
RSG	A	-0.28%
SRE	A	-0.25%
PSX	C	-0.24%
AEP	C	-0.22%
MPLX	A	-0.21%
O	C	-0.21%
PEG	A	-0.19%
XEL	A	-0.17%
EXR	C	-0.15%
MCHP	F	-0.15%
ED	C	-0.14%
WEC	A	-0.13%
LYB	F	-0.12%
AEE	A	-0.11%
DTE	C	-0.11%
ES	C	-0.1%
ATO	A	-0.1%
CMS	C	-0.09%
STE	D	-0.09%
ARE	F	-0.08%
TSN	B	-0.08%
MAA	B	-0.08%
ESS	B	-0.08%
DPZ	C	-0.07%
LNT	A	-0.07%
HRL	D	-0.07%
WLK	D	-0.07%
NI	A	-0.07%
ELS	C	-0.06%
REG	A	-0.06%
UDR	B	-0.06%
EVRG	A	-0.06%
HEI	A	-0.06%
CASY	A	-0.06%
WTRG	B	-0.05%
CUBE	C	-0.05%
EMN	C	-0.05%
EGP	D	-0.04%
OGE	A	-0.04%
INGR	C	-0.04%
REXR	F	-0.04%
AES	F	-0.04%
CHDN	B	-0.04%
PNW	A	-0.04%
TRNO	F	-0.03%
IDA	A	-0.03%
CBT	D	-0.03%
STAG	D	-0.03%
CADE	B	-0.03%
FR	D	-0.03%
ADC	A	-0.03%
HII	F	-0.03%
NNN	C	-0.03%
SSB	B	-0.03%
WSFS	B	-0.02%
PRGO	C	-0.02%
SR	A	-0.02%
MGEE	B	-0.02%
MDU	D	-0.02%
WDFC	B	-0.02%
FUL	F	-0.02%
BKH	A	-0.02%
IBOC	B	-0.02%
FLO	D	-0.02%
POR	C	-0.02%
NJR	A	-0.02%
UGI	C	-0.02%
SWX	B	-0.02%
UBSI	B	-0.02%
NFG	A	-0.02%
MSEX	C	-0.01%
TR	B	-0.01%
UVV	B	-0.01%
NWN	A	-0.01%
SRCE	B	-0.01%
DKL	C	-0.01%
GTY	A	-0.01%
SJW	F	-0.01%
NHC	C	-0.01%
WOR	F	-0.01%
HI	C	-0.01%
LMAT	A	-0.01%
MTRN	C	-0.01%
ABR	C	-0.01%
CPK	A	-0.01%
CWT	C	-0.01%
IOSP	C	-0.01%
AVA	A	-0.01%
AWR	B	-0.01%
JJSF	C	-0.01%
OTTR	C	-0.01%
NWE	B	-0.01%
POWI	F	-0.01%
ABM	B	-0.01%
JOUT	F	-0.0%
ARTNA	F	-0.0%
BMRC	B	-0.0%
CTO	B	-0.0%
YORW	F	-0.0%
AROW	B	-0.0%
UHT	D	-0.0%
PLOW	D	-0.0%
HIFS	C	-0.0%
WASH	C	-0.0%
MATW	C	-0.0%
GSBC	C	-0.0%
HY	D	-0.0%
MNRO	D	-0.0%
FCBC	C	-0.0%
GRC	A	-0.0%
CTBI	B	-0.0%
TMP	B	-0.0%