DFAT vs. PKW ETF Comparison

Comparison of Dimensional U.S. Targeted Value ETF (DFAT) to PowerShares Buyback Achievers (PKW)

DFAT

Dimensional U.S. Targeted Value ETF

DFAT Description

The investment seeks to achieve long-term capital appreciation while minimizing federal income taxes on returns. As a non-fundamental policy, under normal circumstances, the fund will invest at least 80% of its net assets in securities of U.S. companies. The fund may purchase or sell futures contracts and options on futures contracts for U.S. equity securities and indices, to increase or decrease equity market exposure based on actual or expected cash inflows to or outflows from the Portfolio.

Grade (RS Rating)

Last Trade

$60.18

Average Daily Volume

235,337

Number of Holdings ^*

1396

* may have additional holdings in another (foreign) market

PKW

PowerShares Buyback Achievers

PKW Description

The PowerShares Buyback AchieversTM Portfolio (Fund) is based on the NASDAQ US Buyback AchieversTM Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to track the performance of companies that meet the requirements to be classified as BuyBack Achievers™. To become eligible for inclusion in the Index, a company must be incorporated in the U.S., trade on a US exchange and must have repurchased at least 5% or more of its outstanding shares for the trailing 12 months. 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 Share Buyback Achievers Index to NASDAQ Buyback 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

$123.75

Average Daily Volume

17,079

Number of Holdings ^*

191

* may have additional holdings in another (foreign) market

Performance

Period	DFAT	PKW
30 Days	9.44%	7.20%
60 Days	8.94%	9.19%
90 Days	8.36%	12.10%
12 Months	31.01%	36.73%

95 Overlapping Holdings

Symbol	Grade	Weight in DFAT	Weight in PKW	Overlap
ABG	B	0.27%	0.17%	0.17%
AMG	B	0.02%	0.18%	0.02%
AMN	F	0.01%	0.03%	0.01%
AMR	C	0.2%	0.1%	0.1%
AN	C	0.27%	0.21%	0.21%
ARW	D	0.42%	0.2%	0.2%
ASGN	F	0.09%	0.13%	0.09%
ASH	D	0.21%	0.12%	0.12%
ASO	F	0.17%	0.11%	0.11%
ATGE	B	0.25%	0.11%	0.11%
ATKR	C	0.03%	0.1%	0.03%
ATSG	B	0.07%	0.05%	0.05%
AZTA	D	0.13%	0.06%	0.06%
BC	C	0.18%	0.17%	0.17%
BERY	B	0.23%	0.25%	0.23%
BHF	B	0.15%	0.1%	0.1%
BTU	B	0.21%	0.11%	0.11%
CACI	D	0.17%	0.33%	0.17%
CASH	A	0.14%	0.06%	0.06%
CCRN	F	0.01%	0.01%	0.01%
CEIX	A	0.26%	0.12%	0.12%
CGEM	F	0.01%	0.03%	0.01%
CHGG	D	0.01%	0.01%	0.01%
CNX	A	0.41%	0.19%	0.19%
COOP	B	0.17%	0.2%	0.17%
CRC	B	0.21%	0.17%	0.17%
CVCO	A	0.21%	0.13%	0.13%
DBI	F	0.01%	0.01%	0.01%
DDS	B	0.07%	0.17%	0.07%
DINO	D	0.38%	0.27%	0.27%
DK	C	0.07%	0.04%	0.04%
DXC	B	0.19%	0.12%	0.12%
DXPE	B	0.06%	0.04%	0.04%
ECVT	C	0.05%	0.03%	0.03%
EGBN	B	0.04%	0.03%	0.03%
EIG	B	0.09%	0.04%	0.04%
ENVA	B	0.18%	0.09%	0.09%
FBP	B	0.24%	0.11%	0.11%
GBX	A	0.15%	0.07%	0.07%
GCO	B	0.02%	0.01%	0.01%
GNW	A	0.23%	0.1%	0.1%
GPI	A	0.37%	0.18%	0.18%
HGV	B	0.04%	0.14%	0.04%
HONE	B	0.03%	0.02%	0.02%
HP	B	0.18%	0.11%	0.11%
HTZ	C	0.02%	0.04%	0.02%
HUN	F	0.19%	0.11%	0.11%
HURN	B	0.05%	0.07%	0.05%
IART	C	0.07%	0.06%	0.06%
INVA	D	0.09%	0.04%	0.04%
JEF	A	0.33%	0.5%	0.33%
KBH	D	0.12%	0.19%	0.12%
KELYA	F	0.02%	0.01%	0.01%
LBRT	D	0.19%	0.1%	0.1%
LILAK	D	0.07%	0.03%	0.03%
LOCO	D	0.03%	0.01%	0.01%
LSEA	D	0.01%	0.01%	0.01%
LXU	B	0.01%	0.02%	0.01%
MATX	C	0.18%	0.17%	0.17%
MGM	D	0.0%	0.37%	0.0%
MTG	C	0.37%	0.21%	0.21%
MX	F	0.01%	0.0%	0.0%
NAVI	C	0.13%	0.05%	0.05%
NECB	B	0.01%	0.01%	0.01%
NFBK	B	0.03%	0.02%	0.02%
NR	B	0.04%	0.02%	0.02%
NXST	C	0.28%	0.17%	0.17%
ODP	F	0.05%	0.03%	0.03%
OLN	D	0.24%	0.16%	0.16%
ONTF	C	0.01%	0.01%	0.01%
OPY	B	0.01%	0.02%	0.01%
ORI	A	0.35%	0.32%	0.32%
PAG	B	0.3%	0.35%	0.3%
PRA	C	0.04%	0.03%	0.03%
PRG	C	0.01%	0.07%	0.01%
PVH	C	0.34%	0.18%	0.18%
R	B	0.29%	0.23%	0.23%
RLGT	A	0.02%	0.01%	0.01%
RYI	C	0.04%	0.03%	0.03%
SAH	A	0.09%	0.05%	0.05%
SBSI	B	0.04%	0.03%	0.03%
SCHL	D	0.05%	0.02%	0.02%
SEB	F	0.12%	0.08%	0.08%
SENEA	B	0.02%	0.01%	0.01%
SKYW	B	0.4%	0.14%	0.14%
SLM	A	0.0%	0.17%	0.0%
SLVM	B	0.04%	0.11%	0.04%
SM	B	0.3%	0.17%	0.17%
SNCY	C	0.03%	0.03%	0.03%
SPB	C	0.15%	0.08%	0.08%
TASK	C	0.01%	0.01%	0.01%
TGNA	B	0.18%	0.1%	0.1%
VAC	B	0.15%	0.1%	0.1%
WSBF	C	0.02%	0.01%	0.01%
XRX	F	0.07%	0.03%	0.03%

DFAT Overweight 1301 Positions Relative to PKW

Symbol	Grade	Weight
UNM	A	0.71%
LAD	A	0.54%
SNX	C	0.53%
WCC	B	0.53%
TMHC	B	0.53%
ALLY	C	0.52%
FHN	A	0.52%
JXN	C	0.51%
KNX	B	0.5%
OVV	B	0.5%
AR	B	0.49%
WBS	A	0.48%
MHK	D	0.47%
PNFP	B	0.46%
MLI	C	0.46%
WTFC	A	0.45%
TWLO	A	0.45%
CMC	B	0.45%
CMA	A	0.44%
AXS	A	0.44%
ZION	B	0.43%
SOFI	A	0.43%
X	C	0.43%
SSB	B	0.42%
PB	A	0.4%
TAP	C	0.4%
MOS	F	0.39%
BWA	D	0.39%
IVZ	B	0.39%
POST	C	0.38%
INGR	B	0.38%
JLL	D	0.38%
COHR	B	0.37%
BPOP	B	0.37%
MTDR	B	0.37%
JHG	A	0.36%
AGO	B	0.35%
ALK	C	0.35%
SNV	B	0.35%
CADE	B	0.35%
BCC	B	0.34%
OZK	B	0.34%
AGCO	D	0.34%
DTM	B	0.34%
ONB	B	0.34%
AVT	C	0.34%
BOKF	B	0.33%
FAF	A	0.33%
FNB	A	0.33%
AA	B	0.33%
AL	B	0.32%
SJM	D	0.32%
IBOC	A	0.32%
FYBR	D	0.32%
THO	B	0.31%
UBSI	B	0.3%
GTES	A	0.3%
GAP	C	0.3%
SANM	B	0.3%
WTM	A	0.3%
NOV	C	0.3%
ABCB	B	0.3%
ESNT	D	0.29%
RRX	B	0.29%
AX	A	0.29%
TPH	D	0.28%
PLXS	B	0.28%
ASB	B	0.28%
ITGR	B	0.28%
TCBI	B	0.28%
MUR	D	0.28%
BIO	D	0.27%
LRN	A	0.27%
ACA	A	0.27%
CNO	A	0.26%
LEA	D	0.26%
RUSHA	C	0.26%
CLF	F	0.26%
SIG	B	0.26%
CHRD	D	0.26%
HWC	B	0.26%
PRIM	A	0.26%
PR	B	0.25%
ABM	B	0.25%
CALM	A	0.24%
FLEX	A	0.24%
HOMB	A	0.24%
OMF	A	0.24%
FULT	A	0.24%
AEO	F	0.23%
ESGR	B	0.23%
AUB	B	0.23%
DNB	B	0.23%
GHC	C	0.23%
HUBG	A	0.22%
GVA	A	0.22%
VTRS	A	0.22%
IPG	D	0.22%
PFSI	D	0.22%
HOG	D	0.22%
HHH	B	0.22%
TDS	B	0.22%
CRS	A	0.22%
CATY	B	0.22%
PBF	D	0.22%
WSFS	A	0.22%
KFY	B	0.22%
MCY	A	0.21%
UHAL	D	0.21%
GMS	B	0.21%
CRK	B	0.21%
TRN	C	0.21%
VLY	B	0.2%
DAR	C	0.2%
KMPR	B	0.2%
ESE	B	0.2%
M	D	0.2%
AROC	B	0.2%
NPO	A	0.2%
ELAN	D	0.2%
WAL	B	0.2%
URBN	C	0.2%
CNH	C	0.2%
SF	B	0.2%
PBH	A	0.2%
STNG	F	0.19%
LBRDK	C	0.19%
REZI	A	0.19%
HL	D	0.19%
UCB	A	0.19%
MTX	B	0.18%
VOYA	B	0.18%
IOSP	B	0.18%
ARCH	B	0.18%
UNF	B	0.18%
GL	B	0.18%
PATK	D	0.18%
RIG	D	0.18%
RDN	C	0.18%
NNI	D	0.18%
CCS	D	0.18%
UFPI	B	0.17%
TTMI	B	0.17%
BFH	B	0.17%
FFBC	A	0.17%
NMIH	D	0.17%
FHB	A	0.17%
WAFD	B	0.17%
PRGO	B	0.17%
SNEX	B	0.16%
AMKR	D	0.16%
TEX	D	0.16%
CWK	B	0.16%
VCYT	B	0.16%
AIR	B	0.16%
TRMK	B	0.16%
BEN	C	0.16%
FIBK	A	0.16%
INSW	F	0.15%
NWL	B	0.15%
SON	D	0.15%
RNST	B	0.15%
FRME	B	0.15%
KEX	C	0.15%
APA	D	0.15%
CVBF	A	0.15%
SNDR	B	0.15%
EMN	D	0.15%
SFNC	B	0.15%
ALIT	C	0.15%
BRBR	A	0.15%
BANR	B	0.15%
NVST	B	0.15%
ACIW	B	0.15%
HTLF	B	0.15%
ALG	B	0.15%
OSK	B	0.15%
BKU	A	0.15%
ARCB	C	0.14%
PFGC	B	0.14%
MAN	D	0.14%
LCII	C	0.14%
AVNT	B	0.14%
KAR	B	0.14%
WSBC	A	0.14%
PRDO	B	0.14%
INDB	B	0.14%
STC	B	0.14%
TOWN	B	0.14%
NBTB	B	0.14%
DORM	B	0.14%
USM	B	0.14%
SMPL	B	0.14%
B	B	0.14%
PFS	B	0.14%
NWBI	B	0.14%
MTH	D	0.14%
NOG	A	0.14%
VSTO	A	0.14%
PPC	C	0.13%
MTRN	C	0.13%
ENOV	C	0.13%
WD	D	0.13%
DIOD	D	0.13%
CNXN	C	0.13%
ST	F	0.13%
MHO	D	0.13%
PPBI	B	0.13%
EFSC	B	0.13%
EPC	D	0.13%
JAZZ	B	0.13%
CDE	D	0.13%
WMK	C	0.13%
WERN	C	0.13%
GT	C	0.13%
IBTX	B	0.13%
ESI	A	0.13%
OFG	B	0.13%
LGIH	D	0.13%
FCF	A	0.13%
PSMT	C	0.13%
KMT	B	0.13%
FDP	B	0.12%
JBLU	F	0.12%
FUL	F	0.12%
MGNI	A	0.12%
THS	D	0.12%
WGO	C	0.12%
PLUS	F	0.12%
LAUR	A	0.12%
DNOW	B	0.12%
USFD	A	0.12%
ZD	C	0.12%
VSH	D	0.12%
WKC	D	0.12%
MGY	A	0.12%
HLX	B	0.12%
HMN	B	0.12%
BG	F	0.12%
UMBF	B	0.12%
STRA	C	0.12%
FBK	B	0.12%
DHT	F	0.12%
CBU	B	0.12%
SEM	B	0.12%
LZB	B	0.12%
KN	B	0.12%
PHIN	A	0.12%
G	B	0.12%
RRC	B	0.11%
ARMK	B	0.11%
BRC	D	0.11%
MRCY	B	0.11%
AMWD	C	0.11%
ENS	D	0.11%
CENTA	C	0.11%
PINC	B	0.11%
GEF	A	0.11%
GATX	A	0.11%
OSIS	B	0.11%
SFL	D	0.11%
ANDE	D	0.11%
ROCK	C	0.11%
EBC	B	0.11%
BHE	B	0.11%
SBCF	A	0.1%
SRCE	B	0.1%
WTTR	B	0.1%
AGIO	C	0.1%
AAP	C	0.1%
APOG	B	0.1%
OI	C	0.1%
QCRH	A	0.1%
FBNC	A	0.1%
NHC	C	0.1%
KTOS	B	0.1%
UCTT	D	0.1%
CPA	D	0.1%
AGM	C	0.1%
NMRK	B	0.1%
UVV	B	0.1%
UAA	C	0.1%
CERT	F	0.1%
CUBI	C	0.1%
TROX	D	0.1%
SUPN	C	0.1%
LGND	B	0.1%
GPK	C	0.1%
FL	F	0.1%
WOR	F	0.1%
SPNT	A	0.1%
ADTN	A	0.09%
HOPE	B	0.09%
COTY	F	0.09%
BANC	A	0.09%
HCC	B	0.09%
UA	C	0.09%
MLKN	D	0.09%
PLAB	C	0.09%
LKQ	D	0.09%
SLGN	A	0.09%
HRI	B	0.09%
NTCT	C	0.09%
LC	A	0.09%
MRTN	C	0.09%
ICFI	F	0.09%
KSS	F	0.09%
GIII	D	0.09%
SWI	B	0.09%
COLB	A	0.09%
CMRE	C	0.09%
TFIN	A	0.09%
HAYW	B	0.09%
IP	B	0.09%
CLVT	F	0.09%
NBHC	B	0.09%
VRTS	B	0.09%
GTLS	B	0.09%
WS	B	0.09%
TCBK	B	0.08%
ICUI	D	0.08%
MODG	F	0.08%
MIR	A	0.08%
ADNT	F	0.08%
SASR	B	0.08%
XRAY	F	0.08%
RUN	F	0.08%
CTS	C	0.08%
BHLB	B	0.08%
ROG	D	0.08%
SCL	C	0.08%
MAT	D	0.08%
UPBD	B	0.08%
LTH	C	0.08%
ACHC	F	0.08%
TALO	C	0.08%
SCSC	B	0.08%
MDU	D	0.08%
PDCO	D	0.08%
BUSE	B	0.08%
GPOR	B	0.08%
STBA	B	0.08%
PLYA	B	0.07%
CTBI	B	0.07%
TKR	D	0.07%
UNFI	A	0.07%
NVEE	F	0.07%
MGRC	B	0.07%
IMKTA	C	0.07%
SCS	C	0.07%
NIC	B	0.07%
NEOG	F	0.07%
HTH	B	0.07%
VSEC	C	0.07%
CAL	D	0.07%
FOR	F	0.07%
CABO	C	0.07%
RAMP	C	0.07%
LPG	F	0.07%
MMI	B	0.07%
CIVI	D	0.07%
SAFT	C	0.07%
ECPG	B	0.07%
HI	C	0.07%
GO	C	0.07%
MSGE	F	0.07%
SXC	A	0.07%
BXC	B	0.07%
BDC	B	0.07%
VBTX	B	0.07%
KLIC	B	0.07%
KWR	C	0.07%
DCOM	A	0.06%
KALU	C	0.06%
OXM	D	0.06%
VC	D	0.06%
PRK	B	0.06%
NTB	B	0.06%
OCFC	B	0.06%
CRI	D	0.06%
CMCO	B	0.06%
IPGP	D	0.06%
AZZ	B	0.06%
VECO	F	0.06%
OC	A	0.06%
DGII	B	0.06%
WHR	B	0.06%
PFBC	B	0.06%
CRGY	B	0.06%
AOSL	C	0.06%
SXT	B	0.06%
MRC	B	0.06%
PEBO	A	0.06%
CNXC	F	0.06%
SCVL	F	0.06%
AIN	C	0.06%
SAM	C	0.06%
ESAB	B	0.06%
AMED	F	0.06%
RIOT	C	0.06%
XPRO	F	0.06%
RES	D	0.06%
WLFC	B	0.06%
COHU	C	0.06%
CVI	F	0.06%
ADUS	D	0.06%
DAN	D	0.06%
TPC	C	0.06%
SONO	C	0.05%
GABC	B	0.05%
ACT	D	0.05%
MD	B	0.05%
BRKL	B	0.05%
GSBC	B	0.05%
GNK	D	0.05%
TRST	A	0.05%
AXL	C	0.05%
ETD	C	0.05%
UVSP	B	0.05%
BECN	B	0.05%
FSLY	D	0.05%
AHCO	F	0.05%
OMI	F	0.05%
PRLB	A	0.05%
CARS	B	0.05%
NX	C	0.05%
DVAX	C	0.05%
TMP	B	0.05%
FBMS	B	0.05%
GRBK	D	0.05%
HSTM	B	0.05%
LOB	B	0.05%
CNOB	B	0.05%
PFC	A	0.05%
ASTE	B	0.05%
JNPR	F	0.05%
HTLD	B	0.05%
TDW	F	0.05%
BJRI	B	0.05%
FA	C	0.05%
BY	B	0.05%
ORA	B	0.05%
SXI	B	0.05%
KOS	F	0.05%
REX	D	0.05%
GES	F	0.05%
PUMP	B	0.05%
AMAL	B	0.05%
ICHR	C	0.05%
SGRY	F	0.05%
ALGT	B	0.05%
BV	B	0.05%
VAL	D	0.05%
JBT	B	0.05%
BELFB	C	0.05%
TRS	B	0.05%
TILE	B	0.05%
RUSHB	B	0.05%
THR	B	0.05%
HSII	B	0.05%
MBIN	D	0.05%
VTOL	B	0.05%
DCO	C	0.05%
RNR	C	0.05%
HNI	B	0.05%
NAT	F	0.04%
HOV	D	0.04%
CSTL	D	0.04%
RBCAA	B	0.04%
HZO	D	0.04%
OLO	B	0.04%
MSM	C	0.04%
CNDT	C	0.04%
KRO	D	0.04%
ATLC	B	0.04%
TIPT	B	0.04%
UVE	B	0.04%
KOP	C	0.04%
MSBI	B	0.04%
AMRK	F	0.04%
PRAA	C	0.04%
BZH	B	0.04%
CCBG	B	0.04%
JELD	F	0.04%
AGX	B	0.04%
DLX	B	0.04%
MNRO	D	0.04%
HAFC	A	0.04%
NEO	C	0.04%
SW	A	0.04%
MBWM	B	0.04%
HBNC	B	0.04%
IBCP	B	0.04%
AVNS	F	0.04%
MATW	C	0.04%
FCBC	B	0.04%
ASIX	A	0.04%
OEC	C	0.04%
PCRX	C	0.04%
SPTN	D	0.04%
OSBC	A	0.04%
DAKT	B	0.04%
TDOC	C	0.04%
BMBL	C	0.04%
DV	C	0.04%
MBUU	C	0.04%
NAPA	B	0.04%
HAYN	C	0.04%
MLR	B	0.04%
KW	B	0.04%
CFFN	B	0.04%
NTGR	B	0.04%
MTUS	C	0.04%
CAG	D	0.04%
CZR	F	0.04%
HELE	C	0.04%
VIAV	B	0.04%
SWBI	C	0.04%
EYE	C	0.04%
VTLE	C	0.04%
YELP	C	0.04%
GRC	A	0.04%
WNC	C	0.04%
TRIP	F	0.04%
HFWA	B	0.04%
GLDD	B	0.04%
CPRI	F	0.04%
HLIO	B	0.04%
CPF	A	0.04%
SMP	B	0.04%
EQBK	A	0.04%
LIVN	F	0.04%
EZPW	A	0.04%
VRNT	C	0.04%
GBCI	B	0.03%
SMBC	B	0.03%
BHB	B	0.03%
OSW	A	0.03%
GLRE	B	0.03%
LEG	F	0.03%
KE	C	0.03%
CENT	C	0.03%
ACCO	C	0.03%
MCB	B	0.03%
FLGT	F	0.03%
UTI	A	0.03%
DOLE	D	0.03%
HNRG	B	0.03%
BAND	B	0.03%
ANET	C	0.03%
RBBN	C	0.03%
LOVE	B	0.03%
FWRG	C	0.03%
AMTB	B	0.03%
CHCO	B	0.03%
CSV	B	0.03%
EBF	F	0.03%
IIIN	C	0.03%
NPK	B	0.03%
VMEO	B	0.03%
SBH	C	0.03%
HCSG	C	0.03%
NVRI	F	0.03%
CHEF	A	0.03%
LBRDA	C	0.03%
CLNE	D	0.03%
CECO	A	0.03%
VFC	C	0.03%
BKD	D	0.03%
AIZ	A	0.03%
ALV	C	0.03%
THFF	B	0.03%
NGVT	B	0.03%
NGVC	A	0.03%
NBN	B	0.03%
IAS	C	0.03%
NJR	A	0.03%
MCS	B	0.03%
RDUS	C	0.03%
DNUT	D	0.03%
EVH	F	0.03%
FMBH	B	0.03%
ASC	F	0.03%
CFB	B	0.03%
GXO	B	0.03%
OMCL	C	0.03%
PGC	C	0.03%
MYRG	B	0.03%
OBK	B	0.03%
THRM	D	0.03%
MATV	D	0.03%
HTBK	A	0.03%
EWBC	A	0.03%
CAC	B	0.03%
RYAM	C	0.03%
AMBC	C	0.03%
VREX	C	0.03%
PII	D	0.03%
PLPC	B	0.03%
APTV	D	0.03%
REVG	B	0.03%
UFCS	B	0.03%
RPAY	D	0.03%
NWPX	A	0.03%
ETWO	F	0.03%
LE	D	0.02%
FMNB	B	0.02%
HTBI	B	0.02%
VPG	D	0.02%
CRMT	C	0.02%
INBK	B	0.02%
AMCX	C	0.02%
JOUT	D	0.02%
FNLC	B	0.02%
ATNI	F	0.02%
GPRE	F	0.02%
BH	B	0.02%
WLDN	D	0.02%
MOV	C	0.02%
TRUE	B	0.02%
SFST	B	0.02%
TITN	C	0.02%
RGP	F	0.02%
OSUR	F	0.02%
VIR	D	0.02%
FLWS	F	0.02%
HOFT	C	0.02%
ORN	C	0.02%
CXT	B	0.02%
RGNX	F	0.02%
BHRB	B	0.02%
BMRC	B	0.02%
RICK	C	0.02%
CNMD	C	0.02%
CIVB	B	0.02%
SPFI	B	0.02%
BFST	C	0.02%
APEI	B	0.02%
FNKO	D	0.02%
CLBK	B	0.02%
WEYS	C	0.02%
BOH	B	0.02%
AMPS	C	0.02%
MCFT	B	0.02%
BBW	B	0.02%
TFSL	A	0.02%
RBB	B	0.02%
TBI	F	0.02%
MTRX	B	0.02%
PYCR	C	0.02%
GCI	D	0.02%
IPI	B	0.02%
GNE	D	0.02%
NBR	C	0.02%
WABC	B	0.02%
TWI	F	0.02%
BRY	F	0.02%
MTW	C	0.02%
SWK	D	0.02%
GTN	F	0.02%
CENX	B	0.02%
PACK	B	0.02%
PLOW	D	0.02%
PAHC	C	0.02%
DJCO	B	0.02%
WASH	C	0.02%
FFWM	C	0.02%
METC	C	0.02%
WTBA	B	0.02%
CARE	C	0.02%
VLGEA	B	0.02%
SIRI	C	0.02%
GEF	A	0.02%
SEG	B	0.02%
CCNE	B	0.02%
SMBK	B	0.02%
DSGR	D	0.02%
VSTS	C	0.02%
HY	D	0.02%
MITK	C	0.02%
FBIZ	B	0.02%
UHS	D	0.02%
CEVA	B	0.02%
HCAT	D	0.02%
JBI	F	0.02%
LGF.A	C	0.02%
SYBT	B	0.02%
USAP	B	0.02%
PRM	C	0.02%
UNTY	B	0.02%
FLXS	B	0.02%
FISI	A	0.02%
DGICA	A	0.02%
OPEN	D	0.02%
AROW	B	0.02%
HRTG	C	0.02%
FFIC	B	0.02%
ODC	C	0.02%
BOC	C	0.02%
AVO	C	0.02%
ITIC	B	0.02%
NRIM	A	0.02%
GDOT	D	0.02%
ULH	B	0.02%
SHEN	F	0.02%
NGS	B	0.02%
HVT	D	0.02%
CVGW	D	0.02%
WRLD	C	0.02%
HAIN	C	0.02%
PTVE	B	0.02%
SKX	D	0.02%
MERC	F	0.02%
CALX	D	0.02%
TRC	F	0.02%
ANIP	F	0.02%
GDYN	B	0.02%
SYNA	C	0.02%
MGPI	F	0.02%
BSRR	B	0.02%
SHBI	A	0.02%
PUBM	C	0.02%
ZUMZ	C	0.02%
LYTS	B	0.02%
ORRF	B	0.02%
ZEUS	C	0.02%
USNA	C	0.02%
AORT	B	0.02%
FARO	B	0.02%
HWKN	B	0.02%
MP	B	0.02%
BGS	F	0.02%
MOFG	A	0.02%
FRPH	A	0.02%
CLW	F	0.02%
KRNY	B	0.02%
ESCA	C	0.01%
TTGT	C	0.01%
ALLO	F	0.01%
CCCC	F	0.01%
ARCT	F	0.01%
WOW	B	0.01%
FONR	D	0.01%
SPOK	C	0.01%
HWBK	B	0.01%
IBEX	B	0.01%
HBT	B	0.01%
MXL	C	0.01%
KOD	C	0.01%
IVAC	D	0.01%
SNFCA	B	0.01%
MLNK	B	0.01%
IMMR	C	0.01%
GAMB	A	0.01%
CYRX	F	0.01%
KEQU	C	0.01%
ULBI	F	0.01%
LASR	D	0.01%
GEOS	C	0.01%
GIFI	C	0.01%
AXR	B	0.01%
CZWI	A	0.01%
GDEN	B	0.01%
LCUT	F	0.01%
PARA	C	0.01%
CRBU	F	0.01%
GHM	A	0.01%
ALTG	C	0.01%
AOUT	A	0.01%
BALY	C	0.01%
CHMG	B	0.01%
UBFO	A	0.01%
NTIC	C	0.01%
SSP	F	0.01%
ESQ	A	0.01%
BELFA	D	0.01%
CBNK	B	0.01%
GRNT	B	0.01%
TWIN	F	0.01%
CIFR	B	0.01%
MPAA	C	0.01%
ELMD	A	0.01%
PHX	A	0.01%
PPIH	B	0.01%
EHTH	C	0.01%
ISTR	B	0.01%
PNRG	B	0.01%
TTSH	D	0.01%
TNC	D	0.01%
AMPH	D	0.01%
RNA	D	0.01%
MCBS	B	0.01%
CLAR	D	0.01%
NOVA	F	0.01%
TR	B	0.01%
PCB	A	0.01%
BBCP	C	0.01%
FNWB	C	0.01%
PTLO	F	0.01%
TLYS	F	0.01%
HII	D	0.01%
NNBR	C	0.01%
UEIC	C	0.01%
HBB	F	0.01%
AESI	B	0.01%
NUVB	C	0.01%
VYGR	F	0.01%
ARKO	C	0.01%
VYX	B	0.01%
BFIN	B	0.01%
MCRI	A	0.01%
AE	B	0.01%
VRA	F	0.01%
EVBN	B	0.01%
III	C	0.01%
MG	D	0.01%
GSM	D	0.01%
RCKY	F	0.01%
NATR	C	0.01%
ACCD	D	0.01%
BSET	B	0.01%
RGA	A	0.01%
OPBK	B	0.01%
HURC	C	0.01%
BLDE	D	0.01%
BWFG	A	0.01%
CRNC	C	0.01%
PFIS	A	0.01%
KEY	B	0.01%
FET	D	0.01%
DBRG	F	0.01%
CTRN	D	0.01%
STRT	B	0.01%
BOOM	F	0.01%
RVSB	B	0.01%
ASUR	C	0.01%
STRS	B	0.01%
KIDS	D	0.01%
RMAX	C	0.01%
BILL	A	0.01%
SRI	F	0.01%
CDNA	D	0.01%
MMS	F	0.01%
HEES	B	0.01%
CBAN	B	0.01%
REYN	D	0.01%
UTMD	F	0.01%
SMHI	F	0.01%
MLAB	D	0.01%
PENN	C	0.01%
VIRC	B	0.01%
EML	D	0.01%
EDIT	F	0.01%
USPH	B	0.01%
WNEB	A	0.01%
VSAT	F	0.01%
REPX	A	0.01%
PGNY	F	0.01%
ALCO	D	0.01%
FRBA	C	0.01%
EPM	A	0.01%
SFIX	B	0.01%
TBRG	B	0.01%
NC	B	0.01%
FUNC	A	0.01%
OABI	F	0.01%
FIVE	F	0.01%
LGTY	D	0.01%
ALRS	D	0.01%
SHYF	C	0.01%
PKE	B	0.01%
ACLS	F	0.01%
OPCH	D	0.01%
LAKE	B	0.01%
ANIK	F	0.01%
CVEO	F	0.01%
ASPN	F	0.01%
BCML	A	0.01%
BCBP	A	0.01%
FATE	F	0.01%
QUAD	C	0.01%
BLFY	B	0.01%
HIFS	B	0.01%
EVC	C	0.01%
FMC	D	0.01%
JJSF	B	0.01%
RELL	B	0.01%
OSPN	A	0.01%
PKBK	A	0.01%
ACNB	B	0.01%
CNSL	C	0.01%
SWIM	C	0.01%
WOOF	D	0.01%
MCW	B	0.01%
FF	D	0.01%
RLAY	F	0.01%
LXFR	C	0.01%
QTRX	F	0.01%
OFIX	B	0.01%
TG	D	0.01%
PANL	F	0.01%
FLIC	B	0.01%
GMED	A	0.01%
DH	D	0.01%
CCB	A	0.01%
CPSS	B	0.01%
LGF.A	C	0.01%
VOXX	C	0.01%
SMLR	B	0.01%
QNST	B	0.01%
MEI	D	0.01%
ACTG	D	0.01%
ALKS	B	0.01%
ADV	D	0.01%
BANF	B	0.01%
CE	F	0.01%
PARR	D	0.01%
ZIMV	D	0.01%
ORGO	B	0.01%
LEGH	D	0.01%
SGC	C	0.01%
CFFI	B	0.01%
THRY	F	0.01%
AMRC	F	0.01%
LNN	B	0.01%
FSBW	B	0.01%
NUS	D	0.01%
BWB	B	0.01%
KODK	B	0.01%
CRSR	C	0.01%
HDSN	F	0.01%
ANGO	D	0.01%
MYE	F	0.01%
ATRO	D	0.01%
OIS	C	0.01%
RNGR	B	0.01%
GENC	B	0.01%
EBTC	B	0.01%
MEC	D	0.01%
AVD	D	0.01%
VNDA	C	0.01%
CZNC	B	0.01%
PKOH	B	0.01%
SD	D	0.01%
FRST	B	0.01%
MPB	B	0.01%
ONEW	D	0.01%
FIGS	F	0.01%
CTOS	C	0.01%
JAKK	C	0.01%
TSBK	B	0.01%
LFST	C	0.01%
LINC	B	0.01%
RM	D	0.01%
ITOS	F	0.01%
HBCP	B	0.01%
FFNW	C	0.01%
FSTR	B	0.01%
GNTY	A	0.01%
AMPY	C	0.01%
CLSK	C	0.01%
EGY	D	0.01%
LILA	D	0.01%
DFH	D	0.01%
CMP	C	0.01%
TCMD	A	0.01%
XERS	B	0.0%
ICD	F	0.0%
CHCI	D	0.0%
CVV	F	0.0%
HFBL	D	0.0%
RBKB	B	0.0%
AWX	C	0.0%
STAA	F	0.0%
ELSE	B	0.0%
MFIN	C	0.0%
IROQ	B	0.0%
WMPN	A	0.0%
NHTC	F	0.0%
CKX	F	0.0%
ABOS	F	0.0%
OPOF	A	0.0%
ACIC	B	0.0%
FUSB	A	0.0%
SLNG	B	0.0%
ACIU	C	0.0%
HOWL	F	0.0%
SSBI	F	0.0%
VTYX	F	0.0%
EDUC	F	0.0%
PEPG	F	0.0%
LTRN	F	0.0%
PALT	F	0.0%
LIVE	F	0.0%
WVVI	F	0.0%
PFMT	D	0.0%
UTZ	D	0.0%
BRBS	B	0.0%
CODA	B	0.0%
ACRV	F	0.0%
QIPT	F	0.0%
WHLM	D	0.0%
OBT	C	0.0%
FCAP	D	0.0%
PRLD	F	0.0%
EVI	C	0.0%
TLF	D	0.0%
PMCB	F	0.0%
ORMP	D	0.0%
AAME	D	0.0%
CARV	F	0.0%
HVT	D	0.0%
COHN	B	0.0%
AMS	C	0.0%
GROW	F	0.0%
NRDS	C	0.0%
SKLZ	D	0.0%
AUBN	B	0.0%
NCSM	C	0.0%
PBHC	B	0.0%
GTN.A	D	0.0%
MTEX	B	0.0%
DDD	C	0.0%
CFBK	C	0.0%
BRID	D	0.0%
JVA	B	0.0%
BIOX	F	0.0%
ABSI	F	0.0%
HHS	F	0.0%
LSBK	A	0.0%
DTST	D	0.0%
CRWS	D	0.0%
TAIT	F	0.0%
UPLD	C	0.0%
RDIB	F	0.0%
UONEK	F	0.0%
ATHA	D	0.0%
SIF	D	0.0%
OPHC	C	0.0%
UBCP	C	0.0%
RMBI	A	0.0%
UONE	F	0.0%
OCC	F	0.0%
UNB	A	0.0%
PRTS	C	0.0%
FXNC	C	0.0%
CNTY	B	0.0%
FKWL	D	0.0%
HNNA	C	0.0%
RFL	D	0.0%
FLO	D	0.0%
SGMA	F	0.0%
GBIO	F	0.0%
TNYA	C	0.0%
BCAB	F	0.0%
CVR	C	0.0%
NSYS	F	0.0%
ICCC	D	0.0%
TRT	B	0.0%
CPIX	F	0.0%
SGRP	D	0.0%
ORIC	F	0.0%
LSF	C	0.0%
SLQT	C	0.0%
MXC	D	0.0%
NTWK	F	0.0%
KRT	A	0.0%
ISSC	B	0.0%
PDEX	B	0.0%
RZLT	C	0.0%
STRO	F	0.0%
STHO	F	0.0%
ALGM	D	0.0%
ZDGE	F	0.0%
BOTJ	B	0.0%
JBSS	D	0.0%
HPK	B	0.0%
FNWD	D	0.0%
DIT	F	0.0%
RCMT	C	0.0%
HSON	D	0.0%
JRSH	B	0.0%
BDTX	F	0.0%
CROX	D	0.0%
SFBC	B	0.0%
NKTX	F	0.0%
INFU	B	0.0%
AFBI	B	0.0%
GTIM	F	0.0%
GDRX	F	0.0%
RAPT	F	0.0%
LGL	C	0.0%
FINW	A	0.0%
SVT	D	0.0%
COFS	A	0.0%
CZFS	B	0.0%
CBFV	A	0.0%
FRAF	A	0.0%
BCOV	A	0.0%
HEAR	C	0.0%
ENZ	F	0.0%
PFIE	A	0.0%
REPL	B	0.0%
OLPX	D	0.0%
PYXS	D	0.0%
FLL	D	0.0%
ETNB	C	0.0%
SSTI	C	0.0%
AWRE	F	0.0%
METCB	D	0.0%
FORM	D	0.0%
SND	B	0.0%
ZI	D	0.0%
APT	D	0.0%
FSBC	B	0.0%
FPH	C	0.0%
DGICB	C	0.0%
FTK	B	0.0%
INDI	C	0.0%
TACT	F	0.0%
MNTK	F	0.0%
FSFG	A	0.0%
AEIS	B	0.0%
LUNA	D	0.0%
CMLS	F	0.0%
AXTI	F	0.0%
BWEN	F	0.0%
NAII	F	0.0%
DSGN	C	0.0%
TAYD	D	0.0%
MNSB	C	0.0%
SBFG	A	0.0%
MHH	B	0.0%
SWKH	F	0.0%
EBMT	A	0.0%
HFFG	C	0.0%
TSVT	F	0.0%
LARK	A	0.0%
INVE	C	0.0%
PBFS	B	0.0%
PETS	C	0.0%
WYY	B	0.0%
OVBC	A	0.0%
DAIO	C	0.0%
MGYR	B	0.0%
RFIL	B	0.0%
BFC	B	0.0%
STKS	F	0.0%
MBCN	B	0.0%
SENEB	A	0.0%
VABK	C	0.0%
XNCR	B	0.0%
CXDO	C	0.0%
AP	F	0.0%
BSVN	B	0.0%
GSIT	D	0.0%
ESOA	A	0.0%
NEXA	C	0.0%
CPB	D	0.0%
OOMA	B	0.0%
SLP	D	0.0%
DIBS	F	0.0%
CPHC	C	0.0%
UHAL	D	0.0%
VEL	A	0.0%
MRAM	D	0.0%
PBYI	C	0.0%
FARM	C	0.0%
COLM	B	0.0%
MYPS	C	0.0%
TSQ	D	0.0%
CIX	D	0.0%
MRBK	A	0.0%
PLRX	F	0.0%
OB	C	0.0%
COOK	D	0.0%
ARKR	F	0.0%
SSBK	B	0.0%
EVCM	B	0.0%
SATS	D	0.0%
CIA	B	0.0%
FCCO	B	0.0%
POWW	F	0.0%
MPX	B	0.0%
DHX	F	0.0%
OVLY	A	0.0%
NKSH	B	0.0%
VTSI	C	0.0%
TRDA	B	0.0%
NL	B	0.0%
NWFL	C	0.0%
NABL	F	0.0%
EBS	C	0.0%
RSVR	A	0.0%
DOUG	B	0.0%
ENTA	F	0.0%
ERAS	C	0.0%
MUX	F	0.0%
CSPI	C	0.0%
BDL	F	0.0%
SKWD	A	0.0%
NODK	A	0.0%
GLUE	C	0.0%
SRTS	B	0.0%
BCAL	B	0.0%
MASS	F	0.0%
HLIT	D	0.0%
AC	C	0.0%
TWST	D	0.0%
ASRV	B	0.0%
SBT	C	0.0%
SAGE	F	0.0%
SCWX	B	0.0%
EGAN	C	0.0%
TERN	F	0.0%
CVGI	F	0.0%
TLS	F	0.0%
PEBK	B	0.0%
FVCB	B	0.0%
DLHC	F	0.0%
OPRX	F	0.0%
BGSF	F	0.0%
GATO	D	0.0%
CMTL	F	0.0%
LCNB	A	0.0%
OPRT	C	0.0%
CULP	D	0.0%
ASLE	C	0.0%
SPWH	F	0.0%
PVBC	B	0.0%
PL	A	0.0%
CTKB	C	0.0%
VERV	F	0.0%
LNSR	B	0.0%
ATLO	D	0.0%
FG	B	0.0%
SIGA	F	0.0%
ALTO	F	0.0%
MNTX	C	0.0%
NTLA	F	0.0%
WHG	B	0.0%
VICR	B	0.0%
SSTK	F	0.0%
CMT	D	0.0%
ANGI	D	0.0%
MEG	F	0.0%
RRBI	A	0.0%
SSYS	C	0.0%
BWMN	C	0.0%
FORR	D	0.0%
TUSK	D	0.0%
SUM	B	0.0%
FMAO	B	0.0%
FULC	F	0.0%
MYFW	B	0.0%
ESP	C	0.0%
GAIA	A	0.0%
TTI	C	0.0%
KTCC	C	0.0%
KVHI	B	0.0%
LTRX	F	0.0%
AGM	C	0.0%
ARC	A	0.0%
MVBF	B	0.0%
CATO	D	0.0%
CDLX	D	0.0%
JRVR	F	0.0%
SGA	F	0.0%
EGHT	C	0.0%
DXLG	F	0.0%
QRHC	D	0.0%
FEIM	B	0.0%
NATL	B	0.0%
RMR	F	0.0%
LMNR	B	0.0%
GPRO	F	0.0%
INGN	C	0.0%
TCBX	A	0.0%
TBNK	B	0.0%
ESSA	B	0.0%
CLFD	D	0.0%
PROV	C	0.0%
GRWG	F	0.0%
CPS	C	0.0%
ACU	B	0.0%
ASYS	D	0.0%
PLBC	A	0.0%
FRD	D	0.0%
HMST	D	0.0%
KNF	A	0.0%
PWOD	A	0.0%
DLTH	D	0.0%
RGR	F	0.0%
AVNW	F	0.0%
ALOT	C	0.0%
CF	B	0.0%
NATH	C	0.0%
INTT	C	0.0%
EPSN	B	0.0%
HBIO	F	0.0%
UFI	F	0.0%

DFAT Underweight 96 Positions Relative to PKW

Symbol	Grade	Weight
BKNG	A	-5.49%
TMUS	B	-5.44%
CMCSA	B	-4.88%
JNJ	D	-4.53%
LMT	D	-4.13%
FI	A	-4.0%
DE	A	-3.61%
APP	B	-2.89%
PYPL	B	-2.83%
HCA	F	-2.83%
MCK	B	-2.61%
MAR	B	-2.59%
ORLY	B	-2.3%
CSX	B	-2.21%
AFL	B	-2.05%
HLT	A	-2.0%
MET	A	-1.91%
PSX	C	-1.79%
AZO	C	-1.77%
MPC	D	-1.75%
VST	B	-1.64%
AIG	B	-1.6%
VLO	C	-1.51%
DFS	B	-1.42%
VRSK	A	-1.3%
HIG	B	-1.13%
DD	D	-1.12%
CNC	D	-1.01%
CAH	B	-0.95%
STT	A	-0.94%
PHM	D	-0.87%
GDDY	A	-0.85%
SYF	B	-0.83%
EXPE	B	-0.73%
STLD	B	-0.71%
BLDR	D	-0.68%
CFG	B	-0.68%
CSL	C	-0.66%
L	A	-0.6%
EXPD	D	-0.55%
TXT	D	-0.51%
TOL	B	-0.5%
EQH	B	-0.49%
THC	D	-0.48%
MUSA	A	-0.35%
WMS	D	-0.34%
EXP	A	-0.33%
PRI	A	-0.33%
FOXA	B	-0.33%
CNM	D	-0.28%
HRB	D	-0.27%
WH	B	-0.25%
BRKR	D	-0.24%
BYD	C	-0.22%
MTN	C	-0.22%
WSC	D	-0.22%
CHH	A	-0.22%
RH	B	-0.19%
VVV	F	-0.18%
NSIT	F	-0.16%
EEFT	B	-0.15%
IDCC	A	-0.15%
GOLF	B	-0.14%
TNET	D	-0.14%
CAR	C	-0.12%
GFF	A	-0.12%
WU	D	-0.12%
TNL	A	-0.12%
NSA	D	-0.11%
DOCN	D	-0.11%
PK	B	-0.1%
DEI	B	-0.1%
CARG	C	-0.1%
VIRT	B	-0.1%
PLAY	D	-0.05%
PEB	D	-0.05%
XHR	B	-0.05%
PZZA	D	-0.05%
CSGS	B	-0.05%
CNNE	B	-0.04%
JBGS	D	-0.04%
LQDT	B	-0.03%
STGW	B	-0.03%
HCKT	B	-0.03%
JACK	D	-0.03%
TBPH	C	-0.02%
ANAB	F	-0.02%
FPI	B	-0.02%
IMXI	B	-0.02%
ZIP	F	-0.02%
LPRO	C	-0.02%
SKIN	D	-0.01%
ZYXI	D	-0.01%
DENN	D	-0.01%
MBI	B	-0.01%
LWAY	D	-0.01%