FAB vs. IWR ETF Comparison

Comparison of First Trust Multi Cap Value AlphaDEX Fund (FAB) to iShares Russell Mid-Cap ETF (IWR)

FAB

First Trust Multi Cap Value AlphaDEX Fund

FAB Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Multi Cap Value Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Composite 1500(R) Value Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$85.02

Average Daily Volume

4,786

Number of Holdings ^*

660

* may have additional holdings in another (foreign) market

IWR

iShares Russell Mid-Cap ETF

IWR Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities. 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. The underlying index measures the performance of the mid-capitalization sector of the U.S. equity market. The underlying index is a float-adjusted, capitalization-weighted index of the 800 smallest issuers in the Russell 1000Â® Index.

Grade (RS Rating)

Last Trade

$87.99

Average Daily Volume

1,177,576

Number of Holdings ^*

801

* may have additional holdings in another (foreign) market

Performance

Period	FAB	IWR
30 Days	4.01%	4.19%
60 Days	2.84%	5.52%
90 Days	8.64%	8.27%
12 Months	21.57%	25.46%

293 Overlapping Holdings

Symbol	Grade	Weight in FAB	Weight in IWR	Overlap
AAP	F	0.03%	0.02%	0.02%
ACGL	C	0.48%	0.35%	0.35%
ADM	D	0.43%	0.26%	0.26%
AEE	C	0.41%	0.2%	0.2%
AFG	B	0.05%	0.09%	0.05%
AFL	C	0.31%	0.54%	0.31%
AGCO	D	0.2%	0.05%	0.05%
AGNC	B	0.14%	0.06%	0.06%
AGO	C	0.22%	0.04%	0.04%
AIZ	B	0.1%	0.09%	0.09%
AL	D	0.19%	0.04%	0.04%
ALK	C	0.13%	0.05%	0.05%
ALLY	F	0.14%	0.08%	0.08%
AMG	C	0.23%	0.05%	0.05%
AMKR	F	0.06%	0.03%	0.03%
AN	D	0.17%	0.04%	0.04%
APA	F	0.14%	0.08%	0.08%
APTV	D	0.42%	0.16%	0.16%
AR	F	0.04%	0.07%	0.04%
ARE	C	0.18%	0.19%	0.18%
ARW	C	0.18%	0.06%	0.06%
ASH	D	0.12%	0.04%	0.04%
ATO	B	0.41%	0.18%	0.18%
AVT	C	0.17%	0.04%	0.04%
AWK	B	0.1%	0.25%	0.1%
AXS	B	0.14%	0.05%	0.05%
AYI	B	0.09%	0.07%	0.07%
BBWI	F	0.09%	0.05%	0.05%
BBY	C	0.3%	0.19%	0.19%
BC	C	0.14%	0.05%	0.05%
BEN	F	0.31%	0.05%	0.05%
BERY	B	0.14%	0.07%	0.07%
BG	D	0.4%	0.12%	0.12%
BHF	F	0.04%	0.02%	0.02%
BIIB	F	0.07%	0.25%	0.07%
BJ	D	0.04%	0.09%	0.04%
BKR	C	0.24%	0.29%	0.24%
BOKF	B	0.1%	0.02%	0.02%
BPOP	C	0.05%	0.06%	0.05%
BWA	D	0.17%	0.07%	0.07%
BYD	C	0.19%	0.04%	0.04%
CACC	F	0.04%	0.02%	0.02%
CACI	B	0.05%	0.09%	0.05%
CAG	C	0.39%	0.13%	0.13%
CAR	F	0.06%	0.01%	0.01%
CBRE	A	0.11%	0.32%	0.11%
CCK	A	0.05%	0.09%	0.05%
CE	F	0.39%	0.12%	0.12%
CF	C	0.46%	0.13%	0.13%
CFG	C	0.39%	0.16%	0.16%
CHK	D	0.19%	0.08%	0.08%
CHRD	F	0.14%	0.07%	0.07%
CHTR	D	0.29%	0.28%	0.28%
CINF	B	0.5%	0.18%	0.18%
CLF	F	0.16%	0.05%	0.05%
CMA	B	0.1%	0.06%	0.06%
CMI	C	0.09%	0.36%	0.09%
CMS	C	0.3%	0.18%	0.18%
CNC	D	0.4%	0.35%	0.35%
CNP	C	0.23%	0.15%	0.15%
CNXC	F	0.23%	0.03%	0.03%
COLB	B	0.2%	0.04%	0.04%
COLM	C	0.09%	0.02%	0.02%
CPB	C	0.19%	0.09%	0.09%
CRI	D	0.11%	0.02%	0.02%
CROX	D	0.08%	0.07%	0.07%
CRUS	D	0.05%	0.06%	0.05%
CTRA	D	0.37%	0.15%	0.15%
CTSH	C	0.39%	0.34%	0.34%
CTVA	B	0.09%	0.35%	0.09%
CUZ	B	0.16%	0.04%	0.04%
CWEN	C	0.03%	0.01%	0.01%
CWEN	C	0.03%	0.02%	0.02%
CZR	C	0.12%	0.07%	0.07%
DAR	F	0.2%	0.05%	0.05%
DD	B	0.09%	0.3%	0.09%
DDS	F	0.1%	0.01%	0.01%
DG	F	0.05%	0.16%	0.05%
DGX	B	0.29%	0.15%	0.15%
DHI	B	0.59%	0.5%	0.5%
DINO	F	0.18%	0.06%	0.06%
DKS	D	0.08%	0.11%	0.08%
DNB	C	0.11%	0.03%	0.03%
DOV	B	0.18%	0.22%	0.18%
DOW	D	0.17%	0.31%	0.17%
DTE	C	0.29%	0.23%	0.23%
DTM	B	0.09%	0.06%	0.06%
DVN	F	0.37%	0.22%	0.22%
DXC	C	0.19%	0.03%	0.03%
EBAY	B	0.41%	0.28%	0.28%
ED	C	0.41%	0.32%	0.32%
EG	C	0.44%	0.15%	0.15%
EHC	C	0.05%	0.08%	0.05%
EIX	C	0.3%	0.28%	0.28%
EMN	B	0.13%	0.11%	0.11%
ENOV	D	0.02%	0.02%	0.02%
EPAM	F	0.19%	0.1%	0.1%
EQR	B	0.29%	0.26%	0.26%
EQT	D	0.39%	0.17%	0.17%
ETR	B	0.51%	0.24%	0.24%
EVRG	B	0.2%	0.12%	0.12%
EWBC	D	0.14%	0.1%	0.1%
EXC	C	0.51%	0.35%	0.35%
EXPD	C	0.08%	0.15%	0.08%
FAF	B	0.1%	0.06%	0.06%
FANG	D	0.37%	0.27%	0.27%
FE	C	0.29%	0.22%	0.22%
FHB	D	0.08%	0.03%	0.03%
FHN	D	0.13%	0.08%	0.08%
FITB	B	0.29%	0.25%	0.25%
FMC	C	0.23%	0.07%	0.07%
FNB	C	0.13%	0.05%	0.05%
FNF	B	0.21%	0.13%	0.13%
FOXA	B	0.5%	0.08%	0.08%
FYBR	C	0.24%	0.08%	0.08%
G	C	0.21%	0.06%	0.06%
GAP	F	0.11%	0.04%	0.04%
GIS	B	0.3%	0.36%	0.3%
GL	C	0.16%	0.09%	0.09%
GO	F	0.02%	0.01%	0.01%
GPC	D	0.17%	0.17%	0.17%
GPN	D	0.5%	0.25%	0.25%
GXO	D	0.04%	0.05%	0.04%
HAL	F	0.29%	0.22%	0.22%
HBAN	B	0.38%	0.18%	0.18%
HIG	B	0.4%	0.3%	0.3%
HII	D	0.14%	0.09%	0.09%
HIW	B	0.12%	0.03%	0.03%
HLI	B	0.05%	0.07%	0.05%
HOG	C	0.23%	0.04%	0.04%
HPE	D	0.35%	0.19%	0.19%
HPQ	D	0.17%	0.28%	0.17%
HRL	C	0.18%	0.08%	0.08%
HSIC	C	0.05%	0.08%	0.05%
HSY	C	0.19%	0.26%	0.19%
HUM	F	0.07%	0.34%	0.07%
IAC	C	0.09%	0.03%	0.03%
IDA	C	0.1%	0.05%	0.05%
INCY	C	0.27%	0.1%	0.1%
IP	B	0.05%	0.15%	0.05%
IPG	C	0.37%	0.1%	0.1%
IPGP	F	0.1%	0.02%	0.02%
IVZ	B	0.05%	0.05%	0.05%
J	C	0.09%	0.16%	0.09%
JAZZ	D	0.13%	0.06%	0.06%
JBHT	D	0.27%	0.12%	0.12%
JBL	D	0.24%	0.11%	0.11%
JEF	B	0.05%	0.09%	0.05%
JLL	B	0.05%	0.1%	0.05%
K	B	0.12%	0.18%	0.12%
KEX	C	0.04%	0.06%	0.04%
KEY	B	0.2%	0.13%	0.13%
KIM	C	0.21%	0.14%	0.14%
KMI	B	0.37%	0.36%	0.36%
KNX	C	0.14%	0.07%	0.07%
KR	C	0.28%	0.32%	0.28%
KRC	B	0.2%	0.04%	0.04%
KSS	F	0.11%	0.02%	0.02%
KVUE	C	0.11%	0.39%	0.11%
L	C	0.37%	0.13%	0.13%
LAD	D	0.23%	0.07%	0.07%
LBRDK	F	0.24%	0.06%	0.06%
LEA	F	0.16%	0.05%	0.05%
LEN	B	0.53%	0.02%	0.02%
LEN	B	0.53%	0.39%	0.39%
LFUS	C	0.04%	0.05%	0.04%
LHX	C	0.09%	0.38%	0.09%
LKQ	F	0.33%	0.1%	0.1%
LNC	D	0.16%	0.04%	0.04%
LNG	C	0.36%	0.36%	0.36%
LNT	B	0.1%	0.13%	0.1%
LPX	B	0.1%	0.06%	0.06%
LSTR	D	0.04%	0.06%	0.04%
LUV	C	0.26%	0.15%	0.15%
LYB	D	0.34%	0.21%	0.21%
M	F	0.1%	0.04%	0.04%
MAA	B	0.1%	0.17%	0.1%
MAT	C	0.05%	0.06%	0.05%
MDU	C	0.18%	0.05%	0.05%
MIDD	D	0.09%	0.06%	0.06%
MKC	C	0.1%	0.18%	0.1%
MKL	C	0.43%	0.18%	0.18%
MOH	D	0.21%	0.18%	0.18%
MOS	F	0.19%	0.07%	0.07%
MTB	B	0.38%	0.25%	0.25%
MTDR	F	0.18%	0.05%	0.05%
MTG	B	0.25%	0.06%	0.06%
NFG	B	0.19%	0.05%	0.05%
NI	B	0.15%	0.13%	0.13%
NOV	F	0.18%	0.05%	0.05%
NRG	C	0.13%	0.15%	0.13%
NUE	F	0.39%	0.3%	0.3%
NVST	D	0.05%	0.03%	0.03%
NXST	D	0.13%	0.05%	0.05%
OC	D	0.33%	0.13%	0.13%
OGE	C	0.15%	0.07%	0.07%
OGN	D	0.17%	0.05%	0.05%
OKE	B	0.19%	0.47%	0.19%
OLN	D	0.12%	0.05%	0.05%
OMC	B	0.19%	0.17%	0.17%
OMF	D	0.12%	0.05%	0.05%
ORI	B	0.1%	0.08%	0.08%
OSK	F	0.16%	0.06%	0.06%
OVV	F	0.18%	0.09%	0.09%
OZK	D	0.17%	0.04%	0.04%
PAG	D	0.13%	0.03%	0.03%
PARA	F	0.04%	0.05%	0.04%
PB	B	0.1%	0.06%	0.06%
PCG	C	0.4%	0.37%	0.37%
PEG	B	0.2%	0.37%	0.2%
PFG	B	0.09%	0.17%	0.09%
PII	D	0.13%	0.04%	0.04%
PKG	B	0.2%	0.16%	0.16%
PNFP	B	0.15%	0.06%	0.06%
PNW	C	0.2%	0.09%	0.09%
POOL	C	0.1%	0.12%	0.1%
PPG	D	0.17%	0.26%	0.17%
PRGO	D	0.09%	0.03%	0.03%
PRU	C	0.08%	0.37%	0.08%
PVH	F	0.19%	0.05%	0.05%
R	A	0.19%	0.05%	0.05%
REYN	C	0.1%	0.02%	0.02%
RF	B	0.28%	0.18%	0.18%
RGA	C	0.04%	0.12%	0.04%
RHI	D	0.04%	0.06%	0.04%
RJF	C	0.08%	0.2%	0.08%
RNR	C	0.25%	0.12%	0.12%
RRC	D	0.11%	0.06%	0.06%
RS	D	0.34%	0.14%	0.14%
RYN	C	0.09%	0.04%	0.04%
SAIC	C	0.1%	0.06%	0.06%
SEB	D	0.21%	0.01%	0.01%
SEE	D	0.04%	0.04%	0.04%
SEIC	C	0.09%	0.06%	0.06%
SJM	C	0.38%	0.11%	0.11%
SKX	D	0.08%	0.08%	0.08%
SLGN	B	0.1%	0.04%	0.04%
SLM	D	0.09%	0.04%	0.04%
SNA	C	0.37%	0.13%	0.13%
SNDR	B	0.11%	0.01%	0.01%
SNV	C	0.05%	0.06%	0.05%
SNX	D	0.08%	0.07%	0.07%
SON	C	0.14%	0.05%	0.05%
SPB	C	0.13%	0.02%	0.02%
SSNC	B	0.21%	0.14%	0.14%
STLD	F	0.37%	0.15%	0.15%
STT	A	0.29%	0.22%	0.22%
SWKS	D	0.24%	0.14%	0.14%
SYF	C	0.43%	0.17%	0.17%
SYY	D	0.09%	0.33%	0.09%
TAP	D	0.23%	0.08%	0.08%
TDY	B	0.28%	0.18%	0.18%
TFX	C	0.05%	0.1%	0.05%
THC	A	0.21%	0.14%	0.14%
THO	D	0.14%	0.05%	0.05%
TKR	D	0.13%	0.04%	0.04%
TRGP	B	0.1%	0.28%	0.1%
TROW	D	0.32%	0.2%	0.2%
TSCO	C	0.09%	0.27%	0.09%
TSN	C	0.09%	0.15%	0.09%
TXT	D	0.26%	0.15%	0.15%
UAA	C	0.14%	0.01%	0.01%
UAL	C	0.45%	0.14%	0.14%
UGI	C	0.09%	0.04%	0.04%
UHAL	A	0.39%	0.0%	0.0%
UHAL	A	0.39%	0.06%	0.06%
UHS	B	0.22%	0.12%	0.12%
UNM	B	0.18%	0.07%	0.07%
USFD	B	0.05%	0.12%	0.05%
UTHR	C	0.14%	0.13%	0.13%
VAC	F	0.06%	0.02%	0.02%
VNO	B	0.06%	0.06%	0.06%
VOYA	B	0.05%	0.07%	0.05%
VTR	C	0.11%	0.23%	0.11%
VTRS	D	0.39%	0.12%	0.12%
WAL	B	0.16%	0.08%	0.08%
WBD	D	0.36%	0.18%	0.18%
WBS	D	0.17%	0.07%	0.07%
WCC	D	0.13%	0.06%	0.06%
WEC	C	0.31%	0.26%	0.26%
WHR	D	0.08%	0.05%	0.05%
WLK	D	0.08%	0.04%	0.04%
WPC	C	0.29%	0.12%	0.12%
WRB	C	0.19%	0.16%	0.16%
WTFC	B	0.14%	0.06%	0.06%
WTM	D	0.2%	0.04%	0.04%
WTRG	D	0.09%	0.09%	0.09%
WU	F	0.13%	0.03%	0.03%
WY	C	0.19%	0.21%	0.19%
XEL	B	0.42%	0.31%	0.31%
ZBH	F	0.25%	0.19%	0.19%
ZION	D	0.09%	0.06%	0.06%
ZM	C	0.29%	0.15%	0.15%

FAB Overweight 370 Positions Relative to IWR

Symbol	Grade	Weight
T	C	0.5%
BRK.A	C	0.49%
GM	C	0.44%
CMCSA	D	0.44%
CVS	D	0.43%
MPC	F	0.41%
AEP	C	0.41%
EOG	D	0.41%
CB	B	0.4%
CVX	D	0.39%
PSX	F	0.39%
COP	D	0.39%
VLO	F	0.38%
KHC	C	0.38%
F	F	0.37%
VZ	B	0.37%
AIG	D	0.35%
COF	B	0.35%
OXY	F	0.35%
XOM	C	0.34%
DUK	C	0.3%
D	C	0.3%
WFC	D	0.3%
SRE	C	0.28%
MHO	B	0.28%
USB	B	0.28%
DE	B	0.27%
MTH	A	0.26%
TEL	D	0.25%
BAC	D	0.25%
GPI	B	0.25%
RUSHA	C	0.25%
KBH	A	0.25%
TMHC	A	0.25%
RDN	C	0.24%
ESNT	B	0.24%
JXN	A	0.24%
CRBG	D	0.24%
FDX	C	0.24%
ESGR	D	0.23%
ASO	C	0.23%
C	C	0.23%
NEE	C	0.21%
BTU	D	0.21%
SIG	C	0.21%
PYPL	B	0.21%
LMT	C	0.21%
HCA	B	0.21%
JNJ	C	0.2%
LBRT	D	0.2%
NOG	D	0.2%
TPH	C	0.2%
TEX	F	0.2%
PNC	B	0.2%
LOW	B	0.2%
MDT	C	0.2%
TRV	C	0.2%
VLY	C	0.2%
CADE	C	0.19%
BKH	B	0.19%
POR	C	0.19%
APD	B	0.19%
COOP	C	0.19%
BCC	B	0.19%
OGS	B	0.19%
SM	F	0.19%
KDP	B	0.19%
TGT	C	0.18%
MUR	F	0.18%
GMS	D	0.18%
CSCO	C	0.18%
HP	F	0.18%
GS	C	0.18%
PTEN	F	0.17%
MATX	B	0.17%
CVI	F	0.17%
MS	D	0.17%
MLI	A	0.16%
CMC	D	0.16%
ADTN	D	0.16%
INTC	F	0.16%
MGY	C	0.16%
ABG	D	0.16%
PRG	B	0.16%
UPS	D	0.16%
NMIH	B	0.15%
PBF	F	0.15%
URBN	F	0.15%
INVA	B	0.15%
CCS	B	0.15%
HE	F	0.15%
AVA	C	0.14%
NWN	C	0.14%
UFPI	C	0.14%
ONB	C	0.14%
NWE	B	0.14%
EIG	C	0.14%
CNX	B	0.14%
EBC	B	0.14%
PHIN	B	0.14%
BNL	B	0.14%
BZH	B	0.14%
AEO	F	0.13%
HPP	D	0.13%
VAL	F	0.13%
GDEN	D	0.13%
SANM	D	0.13%
GEF	D	0.13%
IMKTA	D	0.13%
UVV	D	0.13%
GHC	B	0.13%
SR	B	0.13%
ATSG	D	0.13%
WMK	C	0.13%
LZB	C	0.13%
RYI	D	0.12%
SBH	B	0.12%
INDB	C	0.12%
RC	F	0.12%
RLJ	D	0.12%
AAT	B	0.12%
CNO	B	0.12%
FCF	C	0.12%
BKU	C	0.12%
LGIH	C	0.12%
NX	F	0.12%
EFSC	B	0.12%
STBA	B	0.12%
CXW	F	0.12%
KOP	F	0.12%
ENVA	C	0.12%
CUBI	F	0.12%
TGNA	D	0.12%
OLPX	C	0.11%
UMBF	B	0.11%
NAVI	C	0.11%
FRME	D	0.11%
DNOW	D	0.11%
REVG	D	0.11%
OCFC	B	0.11%
CATY	C	0.11%
ATKR	F	0.11%
SCHL	D	0.11%
FFBC	D	0.11%
CALM	A	0.11%
GES	F	0.11%
CABO	F	0.11%
JBT	D	0.11%
HOMB	B	0.1%
BLK	B	0.1%
ABT	C	0.1%
HTZ	F	0.1%
UBSI	B	0.1%
MDLZ	B	0.1%
LILAK	D	0.1%
ABR	B	0.1%
ABM	D	0.1%
CENTA	F	0.1%
PEBO	C	0.1%
SAH	D	0.1%
WMT	C	0.1%
ADNT	F	0.1%
USM	C	0.1%
VSH	F	0.1%
WGO	D	0.1%
PRDO	D	0.1%
WERN	D	0.1%
ABCB	B	0.1%
ARCH	F	0.1%
HUBG	C	0.1%
PFBC	D	0.1%
ALGT	F	0.1%
IBOC	D	0.1%
SSB	B	0.1%
AMN	F	0.09%
SFNC	B	0.09%
SWX	C	0.09%
ELV	C	0.09%
MSGE	B	0.09%
PDCO	F	0.09%
HWC	D	0.09%
KMB	D	0.09%
ASGN	D	0.09%
GT	F	0.09%
GD	B	0.09%
NKE	D	0.09%
TOWN	B	0.09%
PATK	B	0.09%
LGND	C	0.09%
TALO	D	0.09%
EPC	F	0.09%
PARR	F	0.09%
JCI	B	0.09%
CRC	C	0.09%
VSCO	C	0.09%
MATW	F	0.09%
ANDE	D	0.09%
CI	C	0.09%
CRK	D	0.09%
REZI	D	0.09%
NJR	B	0.09%
REGN	C	0.09%
SASR	B	0.09%
FBNC	B	0.09%
JELD	D	0.08%
NBHC	D	0.08%
FHI	A	0.08%
RNST	D	0.08%
EQC	C	0.08%
HGV	F	0.08%
DAN	F	0.08%
BXC	D	0.08%
FIBK	B	0.08%
BECN	D	0.08%
KMT	B	0.08%
CENX	D	0.08%
OMI	D	0.08%
OI	D	0.08%
SJW	C	0.08%
OMCL	C	0.08%
WSBC	D	0.08%
AX	D	0.08%
WSFS	D	0.08%
UNF	C	0.08%
SLVM	B	0.08%
MCRI	C	0.08%
CTOS	F	0.08%
ENS	D	0.08%
HOPE	B	0.08%
PNM	B	0.08%
BANR	B	0.08%
NWBI	C	0.08%
BKE	B	0.08%
ADV	C	0.08%
SSTK	F	0.08%
VBTX	B	0.08%
OFG	C	0.08%
CASH	B	0.08%
RIG	F	0.07%
MRTN	D	0.07%
ARCB	D	0.07%
QCOM	D	0.07%
KOS	F	0.07%
HTLD	D	0.07%
ECVT	F	0.07%
KN	D	0.07%
NMRK	A	0.07%
MLKN	D	0.07%
ODP	F	0.07%
CHGG	F	0.07%
ICUI	B	0.07%
APOG	B	0.07%
CNXN	B	0.06%
SBCF	C	0.06%
TCBI	B	0.06%
UCBI	B	0.06%
CSGS	C	0.06%
DFIN	B	0.06%
AUB	D	0.06%
KLG	C	0.06%
NIC	C	0.06%
CPK	B	0.06%
NHC	D	0.06%
GOGO	F	0.06%
ALEX	B	0.06%
SKY	B	0.06%
GTY	B	0.06%
PLUS	A	0.06%
HELE	D	0.06%
WAFD	C	0.06%
DORM	B	0.06%
DEI	B	0.06%
DIOD	F	0.06%
MODG	F	0.06%
ROIC	B	0.06%
ZD	D	0.06%
CBRL	D	0.06%
CMCO	F	0.06%
VRTS	F	0.06%
GEO	F	0.06%
SHEN	F	0.05%
AVNT	B	0.05%
XHR	B	0.05%
BXMT	C	0.05%
LNN	D	0.05%
EAT	A	0.05%
PTVE	D	0.05%
TRS	D	0.05%
PCH	C	0.05%
CVBF	D	0.05%
HTH	C	0.05%
FULT	D	0.05%
HLF	F	0.05%
SNEX	B	0.05%
TRMK	C	0.05%
TCBK	D	0.05%
PBH	B	0.05%
BUSE	C	0.05%
PSMT	B	0.05%
BDC	B	0.05%
VCTR	B	0.05%
SRCE	C	0.05%
PRIM	B	0.05%
SAFT	D	0.05%
MCY	D	0.05%
LCII	C	0.05%
OEC	F	0.05%
DEA	B	0.05%
CWT	C	0.05%
FOXF	D	0.04%
KALU	F	0.04%
LANC	D	0.04%
KWR	D	0.04%
BLMN	F	0.04%
SIGI	D	0.04%
STRA	F	0.04%
SEM	D	0.04%
NEOG	D	0.04%
MTX	D	0.04%
MMS	C	0.04%
SUM	D	0.04%
PCRX	F	0.04%
FUL	C	0.04%
KFY	B	0.03%
HMN	D	0.03%
SHOO	B	0.03%
WD	A	0.03%
PGRE	C	0.03%
GNW	B	0.03%
FBP	C	0.03%
LXP	B	0.03%
NNI	B	0.03%
MWA	B	0.03%
ADUS	B	0.03%
HNI	C	0.03%
BHLB	B	0.03%
THS	C	0.03%
NBTB	D	0.03%
STC	B	0.03%
FBK	B	0.03%
JBGS	C	0.03%
BOOT	A	0.03%
VSAT	F	0.03%
BMBL	F	0.03%
CBU	C	0.03%
PLXS	A	0.03%
CVCO	A	0.03%
PFS	B	0.03%
FDP	C	0.03%
LTH	B	0.03%
HI	F	0.02%
DK	F	0.02%
ROG	F	0.02%
OXM	F	0.02%
SCL	D	0.02%
XRX	D	0.02%
CTS	D	0.02%
CAKE	C	0.02%
THRM	D	0.02%
WOR	D	0.02%
OII	D	0.02%
ASB	D	0.02%
NVEE	F	0.02%
CMTG	D	0.02%
APAM	C	0.02%
KFRC	D	0.02%
AIN	D	0.02%
ATUS	C	0.02%
PPBI	D	0.02%
IART	F	0.01%

FAB Underweight 508 Positions Relative to IWR

Symbol	Grade	Weight
PLTR	B	-0.63%
AJG	D	-0.56%
WMB	B	-0.48%
HLT	B	-0.47%
O	C	-0.47%
SPG	B	-0.46%
ROST	C	-0.45%
DLR	B	-0.45%
CCI	C	-0.45%
BK	B	-0.45%
ALL	B	-0.43%
URI	B	-0.42%
TTD	B	-0.41%
FIS	B	-0.41%
AMP	A	-0.39%
FICO	B	-0.39%
MPWR	C	-0.38%
IQV	C	-0.38%
MSCI	C	-0.38%
GWW	B	-0.38%
PAYX	C	-0.38%
MCHP	F	-0.36%
IDXX	C	-0.36%
RCL	B	-0.35%
FAST	C	-0.35%
A	C	-0.35%
COR	D	-0.35%
IT	B	-0.34%
AME	C	-0.34%
HWM	B	-0.34%
FERG	D	-0.34%
EA	D	-0.34%
PWR	B	-0.34%
EXR	B	-0.33%
YUM	D	-0.33%
EFX	B	-0.33%
ODFL	D	-0.33%
OTIS	C	-0.33%
VRSK	D	-0.33%
RMD	C	-0.32%
IR	C	-0.32%
GEHC	C	-0.32%
VICI	C	-0.31%
SQ	D	-0.31%
HES	F	-0.31%
IRM	C	-0.3%
DDOG	D	-0.29%
DFS	B	-0.29%
AVB	B	-0.29%
ALNY	C	-0.29%
XYL	C	-0.28%
MLM	D	-0.28%
CSGP	D	-0.28%
VEEV	C	-0.28%
COIN	F	-0.28%
GLW	C	-0.28%
VRT	C	-0.27%
ON	D	-0.27%
VMC	D	-0.27%
PHM	B	-0.26%
VST	C	-0.26%
APP	C	-0.26%
CDW	D	-0.26%
WAB	B	-0.26%
WTW	C	-0.26%
NDAQ	A	-0.26%
ROK	D	-0.26%
MTD	D	-0.25%
DAL	C	-0.25%
VLTO	C	-0.24%
AXON	B	-0.24%
DXCM	F	-0.24%
CAH	C	-0.24%
CPNG	B	-0.24%
ANSS	D	-0.24%
NVR	B	-0.24%
FTV	C	-0.23%
SBAC	C	-0.23%
KEYS	C	-0.23%
ARES	B	-0.23%
IFF	B	-0.23%
GRMN	D	-0.23%
TYL	C	-0.22%
BR	D	-0.22%
BRO	C	-0.22%
CHD	D	-0.22%
TTWO	C	-0.22%
NET	D	-0.21%
DECK	C	-0.21%
ES	C	-0.21%
PPL	C	-0.21%
HUBS	D	-0.21%
STE	C	-0.21%
NTAP	D	-0.21%
FSLR	C	-0.21%
INVH	C	-0.2%
SMCI	F	-0.2%
RBLX	B	-0.2%
WDC	D	-0.19%
CPAY	B	-0.19%
COO	B	-0.19%
GDDY	C	-0.19%
HUBB	B	-0.19%
WST	D	-0.19%
FCNCA	D	-0.19%
BLDR	C	-0.19%
CBOE	C	-0.19%
MSTR	D	-0.19%
ESS	B	-0.18%
TER	D	-0.18%
BAH	C	-0.18%
BAX	C	-0.18%
PTC	D	-0.18%
ILMN	C	-0.18%
BALL	C	-0.18%
CLX	C	-0.18%
LDOS	B	-0.18%
LII	B	-0.17%
DRI	B	-0.17%
WAT	C	-0.17%
TRU	B	-0.17%
CSL	B	-0.17%
MDB	D	-0.17%
NTRS	A	-0.16%
ULTA	D	-0.16%
SUI	B	-0.16%
AVTR	B	-0.16%
ALGN	D	-0.16%
WSM	D	-0.16%
EME	B	-0.16%
LH	C	-0.16%
HOLX	B	-0.16%
HEI	B	-0.15%
ENTG	F	-0.15%
DKNG	C	-0.15%
FDS	C	-0.15%
PINS	F	-0.15%
EXPE	C	-0.15%
CCL	C	-0.15%
ZBRA	B	-0.15%
BURL	B	-0.15%
AVY	C	-0.15%
MAS	B	-0.15%
FWONK	C	-0.14%
ZS	F	-0.14%
SWK	B	-0.14%
LYV	B	-0.14%
TOL	B	-0.14%
AMCR	B	-0.14%
VRSN	D	-0.14%
DOC	C	-0.14%
BMRN	F	-0.14%
MANH	B	-0.14%
PODD	B	-0.14%
WSO	C	-0.14%
NTRA	C	-0.13%
LVS	D	-0.13%
NTNX	C	-0.13%
ENPH	D	-0.13%
HOOD	C	-0.13%
AKAM	D	-0.13%
CVNA	B	-0.13%
GEN	B	-0.13%
MRO	C	-0.13%
RVTY	B	-0.13%
IEX	D	-0.13%
PNR	B	-0.13%
TPL	B	-0.13%
LPLA	D	-0.13%
RPM	B	-0.13%
UDR	C	-0.13%
ACM	B	-0.12%
DT	C	-0.12%
IBKR	B	-0.12%
GLPI	C	-0.12%
TW	B	-0.12%
TRMB	C	-0.12%
REG	C	-0.12%
GGG	C	-0.12%
AMH	C	-0.12%
DPZ	F	-0.12%
ELS	C	-0.12%
GWRE	A	-0.12%
ROL	C	-0.12%
CASY	D	-0.12%
PSTG	F	-0.12%
DLTR	F	-0.12%
NDSN	C	-0.12%
CUBE	B	-0.11%
CW	B	-0.11%
HST	C	-0.11%
NBIX	F	-0.11%
FIX	B	-0.11%
FFIV	B	-0.11%
BLD	D	-0.11%
TTEK	C	-0.11%
ALLE	B	-0.11%
KMX	D	-0.11%
JNPR	B	-0.11%
EQH	C	-0.11%
XPO	D	-0.11%
BXP	B	-0.11%
CLH	A	-0.11%
JKHY	B	-0.11%
CPT	B	-0.11%
AES	C	-0.11%
REXR	C	-0.1%
TXRH	C	-0.1%
NVT	D	-0.1%
RIVN	F	-0.1%
ITT	B	-0.1%
SRPT	D	-0.1%
PFGC	B	-0.1%
LAMR	B	-0.1%
SCI	B	-0.1%
HEI	B	-0.1%
SAIA	D	-0.1%
OKTA	F	-0.1%
CHRW	B	-0.1%
DOCU	C	-0.1%
SW	B	-0.1%
TECH	C	-0.1%
WING	B	-0.1%
TOST	C	-0.1%
EXAS	C	-0.1%
FND	C	-0.1%
OLED	C	-0.09%
CHDN	C	-0.09%
TPR	C	-0.09%
WMS	D	-0.09%
LECO	F	-0.09%
WWD	D	-0.09%
DOX	C	-0.09%
NWSA	D	-0.09%
ARMK	B	-0.09%
LNW	B	-0.09%
OHI	B	-0.09%
ATR	B	-0.09%
MUSA	D	-0.09%
AFRM	C	-0.09%
CRL	F	-0.09%
KNSL	C	-0.09%
ALB	D	-0.09%
NLY	B	-0.09%
RRX	C	-0.09%
COHR	C	-0.09%
TWLO	D	-0.09%
QRVO	F	-0.09%
FBIN	B	-0.09%
FTI	D	-0.09%
CTLT	B	-0.09%
RPRX	C	-0.09%
PAYC	D	-0.08%
SF	A	-0.08%
TPX	C	-0.08%
EVR	A	-0.08%
TTC	D	-0.08%
DAY	D	-0.08%
HRB	C	-0.08%
OWL	C	-0.08%
CG	D	-0.08%
INGR	B	-0.08%
MGM	F	-0.08%
NNN	C	-0.08%
MEDP	F	-0.08%
EGP	B	-0.08%
BWXT	D	-0.08%
PRI	B	-0.08%
CNH	D	-0.08%
GPK	B	-0.08%
TKO	B	-0.08%
LW	D	-0.08%
EXP	B	-0.08%
MTCH	C	-0.08%
CAVA	B	-0.08%
ROKU	C	-0.08%
RGLD	C	-0.08%
Z	B	-0.08%
MKTX	C	-0.08%
HAS	B	-0.08%
AOS	D	-0.08%
FRT	C	-0.08%
ONTO	D	-0.08%
SOLV	C	-0.08%
MKSI	F	-0.07%
CR	C	-0.07%
ADC	C	-0.07%
BRBR	C	-0.07%
ATI	C	-0.07%
EXEL	C	-0.07%
AXTA	B	-0.07%
ALSN	B	-0.07%
SSD	D	-0.07%
COKE	C	-0.07%
ITCI	D	-0.07%
FCN	D	-0.07%
RGEN	F	-0.07%
APG	D	-0.07%
GMED	D	-0.07%
SOFI	C	-0.07%
WYNN	D	-0.07%
X	F	-0.07%
CIEN	C	-0.07%
ACI	F	-0.07%
BFAM	C	-0.07%
RBC	C	-0.07%
AA	D	-0.07%
GNRC	D	-0.07%
NCLH	C	-0.07%
GLOB	D	-0.07%
DVA	B	-0.07%
COLD	D	-0.07%
MORN	C	-0.07%
KBR	D	-0.07%
WEX	C	-0.07%
MHK	C	-0.07%
DUOL	B	-0.07%
DCI	C	-0.07%
BRX	B	-0.07%
PR	F	-0.07%
CHE	C	-0.07%
NYT	C	-0.07%
BIO	C	-0.06%
STWD	B	-0.06%
CART	A	-0.06%
AZEK	C	-0.06%
RLI	B	-0.06%
H	C	-0.06%
AAON	B	-0.06%
GTLB	D	-0.06%
CFR	C	-0.06%
MSA	D	-0.06%
VFC	C	-0.06%
ETSY	F	-0.06%
FRPT	B	-0.06%
WBA	F	-0.06%
IONS	F	-0.06%
SMAR	C	-0.06%
RYAN	D	-0.06%
WFRD	F	-0.06%
CGNX	F	-0.06%
GNTX	F	-0.06%
CNM	F	-0.06%
MTN	D	-0.06%
SN	B	-0.06%
BRKR	D	-0.06%
RL	C	-0.06%
SWN	D	-0.06%
PEN	D	-0.06%
PCTY	C	-0.06%
AAL	D	-0.06%
BSY	D	-0.06%
VKTX	C	-0.06%
MTZ	B	-0.06%
ACHC	C	-0.06%
ELAN	D	-0.06%
TREX	D	-0.06%
HR	C	-0.06%
PLNT	B	-0.06%
STAG	C	-0.06%
WSC	D	-0.06%
CBSH	C	-0.06%
FR	B	-0.06%
VNT	F	-0.05%
RARE	B	-0.05%
ST	D	-0.05%
S	C	-0.05%
KD	D	-0.05%
FIVE	D	-0.05%
VVV	D	-0.05%
CIVI	F	-0.05%
BILL	D	-0.05%
LAZ	B	-0.05%
THG	B	-0.05%
VMI	D	-0.05%
XRAY	D	-0.05%
AWI	B	-0.05%
GME	F	-0.05%
MTSI	D	-0.05%
ESAB	C	-0.05%
SRCL	A	-0.05%
ESI	D	-0.05%
POST	C	-0.05%
RITM	B	-0.05%
U	D	-0.05%
CELH	F	-0.05%
OLLI	C	-0.05%
SIRI	C	-0.05%
INSP	C	-0.05%
AZPN	B	-0.05%
PCOR	F	-0.05%
DBX	D	-0.05%
LSCC	D	-0.05%
ESTC	F	-0.05%
WH	B	-0.05%
ELF	F	-0.05%
FLS	D	-0.05%
SITE	C	-0.05%
LYFT	D	-0.04%
LOPE	D	-0.04%
DLB	D	-0.04%
ROIV	C	-0.04%
EEFT	D	-0.04%
CPRI	D	-0.04%
FLO	C	-0.04%
W	D	-0.04%
PSN	B	-0.04%
DOCS	B	-0.04%
JHG	B	-0.04%
TPG	B	-0.04%
RH	B	-0.04%
MASI	F	-0.04%
CCCS	D	-0.04%
CFLT	F	-0.04%
FOX	B	-0.04%
PATH	D	-0.04%
APPF	D	-0.04%
HXL	F	-0.04%
AM	C	-0.04%
FOUR	C	-0.04%
CXT	D	-0.03%
SMG	C	-0.03%
PK	D	-0.03%
TNL	D	-0.03%
PEGA	C	-0.03%
WEN	C	-0.03%
PENN	D	-0.03%
BROS	D	-0.03%
AMED	C	-0.03%
IRDM	D	-0.03%
NWS	D	-0.03%
NWL	C	-0.03%
HCP	B	-0.03%
ZI	D	-0.03%
LBTYA	B	-0.03%
YETI	D	-0.03%
NSA	B	-0.03%
MAN	C	-0.03%
GTES	C	-0.03%
LBTYK	B	-0.03%
LCID	C	-0.03%
CHH	C	-0.03%
HUN	D	-0.03%
EPR	B	-0.03%
MSM	D	-0.03%
KMPR	D	-0.03%
COTY	F	-0.03%
LITE	B	-0.03%
NEU	D	-0.03%
MPW	C	-0.03%
MSGS	B	-0.03%
SPR	D	-0.03%
GFS	F	-0.03%
VNOM	C	-0.03%
APLS	F	-0.03%
FWONA	C	-0.02%
FTRE	D	-0.02%
AS	C	-0.02%
BIRK	F	-0.02%
MP	D	-0.02%
HAYW	C	-0.02%
LLYVK	B	-0.02%
VSTS	D	-0.02%
ADT	C	-0.02%
QS	F	-0.02%
FIVN	F	-0.02%
JWN	C	-0.02%
RCM	C	-0.02%
HHH	C	-0.02%
TXG	D	-0.02%
RNG	F	-0.02%
QDEL	D	-0.02%
PINC	C	-0.02%
NCNO	D	-0.02%
SAM	F	-0.02%
DV	F	-0.02%
SHC	C	-0.02%
AGR	B	-0.02%
AZTA	F	-0.02%
CLVT	D	-0.02%
CC	F	-0.02%
VIRT	C	-0.02%
ZG	B	-0.02%
RKT	C	-0.02%
TDC	F	-0.02%
TFSL	C	-0.01%
NFE	F	-0.01%
UI	B	-0.01%
LLYVA	B	-0.01%
LOAR	C	-0.01%
ALAB	D	-0.01%
UWMC	D	-0.01%
PYCR	D	-0.01%
DJT	F	-0.01%
LBRDA	F	-0.01%
WOLF	F	-0.01%
CERT	F	-0.01%
CNA	C	-0.01%
TRIP	F	-0.01%
UA	D	-0.01%
INFA	D	-0.01%
LEG	D	-0.01%
PPC	D	-0.01%
ALGM	F	-0.01%
SEG	C	-0.0%
PARAA	D	-0.0%
GRAL	F	-0.0%
PLTK	C	-0.0%