FAB vs. MFUS ETF Comparison

Comparison of First Trust Multi Cap Value AlphaDEX Fund (FAB) to PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS)

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

MFUS

PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF

MFUS Description

The investment seeks to track the investment results of the RAFI Dynamic Multi-Factor U.S. Index. The fund seeks to achieve its investment objective by investing at least 80% of its total assets (exclusive of collateral held from securities lending) in the component securities of the RAFI Dynamic Multi-Factor U.S. Index. The underlying index is constructed by RAFI Indices, LLC (the index provider) using a rules-based approach to construct factor portfolios within the underlying index. The underlying index consists of factor portfolios, each of which emphasizes one of the following factors: value, low volatility, quality, momentum and size.

Grade (RS Rating)

Last Trade

$50.22

Average Daily Volume

7,364

Number of Holdings ^*

780

* may have additional holdings in another (foreign) market

Performance

Period	FAB	MFUS
30 Days	4.01%	3.10%
60 Days	2.84%	4.82%
90 Days	8.64%	5.74%
12 Months	21.57%	28.93%

348 Overlapping Holdings

Symbol	Grade	Weight in FAB	Weight in MFUS	Overlap
AAP	F	0.03%	0.01%	0.01%
ABG	D	0.16%	0.07%	0.07%
ABM	D	0.1%	0.04%	0.04%
ADM	D	0.43%	0.32%	0.32%
ADNT	F	0.1%	0.02%	0.02%
AEO	F	0.13%	0.09%	0.09%
AFG	B	0.05%	0.01%	0.01%
AFL	C	0.31%	0.19%	0.19%
AGCO	D	0.2%	0.02%	0.02%
AGNC	B	0.14%	0.04%	0.04%
AIG	D	0.35%	0.42%	0.35%
AIZ	B	0.1%	0.07%	0.07%
ALLY	F	0.14%	0.1%	0.1%
AMG	C	0.23%	0.05%	0.05%
AMKR	F	0.06%	0.03%	0.03%
AN	D	0.17%	0.08%	0.08%
ANDE	D	0.09%	0.02%	0.02%
APAM	C	0.02%	0.02%	0.02%
APOG	B	0.07%	0.02%	0.02%
AR	F	0.04%	0.04%	0.04%
ARCB	D	0.07%	0.01%	0.01%
ARCH	F	0.1%	0.01%	0.01%
ARW	C	0.18%	0.07%	0.07%
ASO	C	0.23%	0.03%	0.03%
AVA	C	0.14%	0.03%	0.03%
AVT	C	0.17%	0.04%	0.04%
AYI	B	0.09%	0.07%	0.07%
BAC	D	0.25%	0.39%	0.25%
BBWI	F	0.09%	0.02%	0.02%
BBY	C	0.3%	0.24%	0.24%
BC	C	0.14%	0.06%	0.06%
BCC	B	0.19%	0.06%	0.06%
BDC	B	0.05%	0.04%	0.04%
BECN	D	0.08%	0.01%	0.01%
BEN	F	0.31%	0.04%	0.04%
BERY	B	0.14%	0.06%	0.06%
BHF	F	0.04%	0.03%	0.03%
BIIB	F	0.07%	0.08%	0.07%
BJ	D	0.04%	0.03%	0.03%
BKE	B	0.08%	0.02%	0.02%
BKR	C	0.24%	0.16%	0.16%
BKU	C	0.12%	0.03%	0.03%
BRK.A	C	0.49%	2.01%	0.49%
BTU	D	0.21%	0.04%	0.04%
BWA	D	0.17%	0.05%	0.05%
C	C	0.23%	1.22%	0.23%
CACC	F	0.04%	0.01%	0.01%
CACI	B	0.05%	0.09%	0.05%
CADE	C	0.19%	0.01%	0.01%
CAG	C	0.39%	0.05%	0.05%
CALM	A	0.11%	0.07%	0.07%
CB	B	0.4%	0.16%	0.16%
CBRL	D	0.06%	0.01%	0.01%
CCK	A	0.05%	0.07%	0.05%
CE	F	0.39%	0.07%	0.07%
CENTA	F	0.1%	0.01%	0.01%
CFG	C	0.39%	0.06%	0.06%
CHRD	F	0.14%	0.02%	0.02%
CHTR	D	0.29%	0.24%	0.24%
CI	C	0.09%	0.14%	0.09%
CINF	B	0.5%	0.02%	0.02%
CMA	B	0.1%	0.04%	0.04%
CMC	D	0.16%	0.07%	0.07%
CMCSA	D	0.44%	0.24%	0.24%
CMI	C	0.09%	0.11%	0.09%
CNO	B	0.12%	0.04%	0.04%
CNX	B	0.14%	0.06%	0.06%
COF	B	0.35%	0.42%	0.35%
COOP	C	0.19%	0.04%	0.04%
COP	D	0.39%	0.3%	0.3%
CPB	C	0.19%	0.01%	0.01%
CRBG	D	0.24%	0.04%	0.04%
CRI	D	0.11%	0.06%	0.06%
CRUS	D	0.05%	0.05%	0.05%
CSCO	C	0.18%	0.42%	0.18%
CSGS	C	0.06%	0.01%	0.01%
CTRA	D	0.37%	0.02%	0.02%
CTVA	B	0.09%	0.03%	0.03%
CVI	F	0.17%	0.01%	0.01%
CVS	D	0.43%	0.8%	0.43%
CVX	D	0.39%	0.79%	0.39%
CWEN	C	0.03%	0.01%	0.01%
CXW	F	0.12%	0.02%	0.02%
DAN	F	0.08%	0.01%	0.01%
DD	B	0.09%	0.21%	0.09%
DDS	F	0.1%	0.03%	0.03%
DEI	B	0.06%	0.01%	0.01%
DG	F	0.05%	0.05%	0.05%
DGX	B	0.29%	0.06%	0.06%
DINO	F	0.18%	0.03%	0.03%
DK	F	0.02%	0.03%	0.02%
DKS	D	0.08%	0.09%	0.08%
DNOW	D	0.11%	0.01%	0.01%
DORM	B	0.06%	0.02%	0.02%
DOV	B	0.18%	0.02%	0.02%
DOW	D	0.17%	0.04%	0.04%
DTM	B	0.09%	0.01%	0.01%
DUK	C	0.3%	0.13%	0.13%
DXC	C	0.19%	0.02%	0.02%
EBAY	B	0.41%	0.34%	0.34%
EHC	C	0.05%	0.08%	0.05%
ELV	C	0.09%	0.08%	0.08%
EMN	B	0.13%	0.06%	0.06%
EOG	D	0.41%	0.11%	0.11%
EPC	F	0.09%	0.02%	0.02%
ESNT	B	0.24%	0.01%	0.01%
EVRG	B	0.2%	0.01%	0.01%
EWBC	D	0.14%	0.02%	0.02%
EXC	C	0.51%	0.12%	0.12%
EXPD	C	0.08%	0.07%	0.07%
F	F	0.37%	0.33%	0.33%
FAF	B	0.1%	0.02%	0.02%
FANG	D	0.37%	0.04%	0.04%
FHI	A	0.08%	0.04%	0.04%
FHN	D	0.13%	0.01%	0.01%
FITB	B	0.29%	0.05%	0.05%
FNF	B	0.21%	0.03%	0.03%
FOXA	B	0.5%	0.08%	0.08%
FYBR	C	0.24%	0.01%	0.01%
G	C	0.21%	0.05%	0.05%
GAP	F	0.11%	0.07%	0.07%
GD	B	0.09%	0.17%	0.09%
GEF	D	0.13%	0.02%	0.02%
GEO	F	0.06%	0.04%	0.04%
GES	F	0.11%	0.02%	0.02%
GHC	B	0.13%	0.02%	0.02%
GIS	B	0.3%	0.11%	0.11%
GM	C	0.44%	0.56%	0.44%
GMS	D	0.18%	0.03%	0.03%
GNW	B	0.03%	0.04%	0.03%
GPC	D	0.17%	0.02%	0.02%
GPI	B	0.25%	0.09%	0.09%
GS	C	0.18%	0.45%	0.18%
GT	F	0.09%	0.03%	0.03%
HAL	F	0.29%	0.04%	0.04%
HBAN	B	0.38%	0.03%	0.03%
HCA	B	0.21%	0.13%	0.13%
HELE	D	0.06%	0.01%	0.01%
HIG	B	0.4%	0.06%	0.06%
HII	D	0.14%	0.02%	0.02%
HLI	B	0.05%	0.08%	0.05%
HNI	C	0.03%	0.02%	0.02%
HOG	C	0.23%	0.02%	0.02%
HP	F	0.18%	0.03%	0.03%
HPE	D	0.35%	0.2%	0.2%
HPP	D	0.13%	0.01%	0.01%
HPQ	D	0.17%	0.27%	0.17%
HRL	C	0.18%	0.01%	0.01%
HSIC	C	0.05%	0.03%	0.03%
HSY	C	0.19%	0.06%	0.06%
HUBG	C	0.1%	0.04%	0.04%
INCY	C	0.27%	0.01%	0.01%
INTC	F	0.16%	0.36%	0.16%
IP	B	0.05%	0.12%	0.05%
IPG	C	0.37%	0.07%	0.07%
IVZ	B	0.05%	0.05%	0.05%
JAZZ	D	0.13%	0.01%	0.01%
JBGS	C	0.03%	0.01%	0.01%
JBHT	D	0.27%	0.02%	0.02%
JBL	D	0.24%	0.07%	0.07%
JEF	B	0.05%	0.03%	0.03%
JELD	D	0.08%	0.01%	0.01%
JLL	B	0.05%	0.05%	0.05%
JNJ	C	0.2%	1.03%	0.2%
JXN	A	0.24%	0.09%	0.09%
K	B	0.12%	0.1%	0.1%
KALU	F	0.04%	0.01%	0.01%
KBH	A	0.25%	0.04%	0.04%
KDP	B	0.19%	0.06%	0.06%
KEX	C	0.04%	0.01%	0.01%
KEY	B	0.2%	0.02%	0.02%
KHC	C	0.38%	0.16%	0.16%
KMB	D	0.09%	0.16%	0.09%
KMI	B	0.37%	0.08%	0.08%
KN	D	0.07%	0.01%	0.01%
KNX	C	0.14%	0.01%	0.01%
KR	C	0.28%	0.34%	0.28%
KSS	F	0.11%	0.06%	0.06%
L	C	0.37%	0.08%	0.08%
LAD	D	0.23%	0.01%	0.01%
LANC	D	0.04%	0.04%	0.04%
LBRDK	F	0.24%	0.02%	0.02%
LEA	F	0.16%	0.03%	0.03%
LEN	B	0.53%	0.08%	0.08%
LHX	C	0.09%	0.19%	0.09%
LMT	C	0.21%	0.52%	0.21%
LNC	D	0.16%	0.05%	0.05%
LOW	B	0.2%	0.23%	0.2%
LPX	B	0.1%	0.06%	0.06%
LSTR	D	0.04%	0.08%	0.04%
LXP	B	0.03%	0.02%	0.02%
LYB	D	0.34%	0.21%	0.21%
LZB	C	0.13%	0.02%	0.02%
M	F	0.1%	0.04%	0.04%
MATX	B	0.17%	0.02%	0.02%
MCY	D	0.05%	0.02%	0.02%
MDLZ	B	0.1%	0.22%	0.1%
MDU	C	0.18%	0.03%	0.03%
MHO	B	0.28%	0.05%	0.05%
MKC	C	0.1%	0.08%	0.08%
MKL	C	0.43%	0.03%	0.03%
MLI	A	0.16%	0.06%	0.06%
MLKN	D	0.07%	0.01%	0.01%
MMS	C	0.04%	0.06%	0.04%
MOH	D	0.21%	0.03%	0.03%
MOS	F	0.19%	0.04%	0.04%
MPC	F	0.41%	0.64%	0.41%
MTB	B	0.38%	0.03%	0.03%
MTDR	F	0.18%	0.01%	0.01%
MTG	B	0.25%	0.04%	0.04%
MTH	A	0.26%	0.08%	0.08%
MUR	F	0.18%	0.05%	0.05%
NAVI	C	0.11%	0.03%	0.03%
NFG	B	0.19%	0.04%	0.04%
NKE	D	0.09%	0.04%	0.04%
NNI	B	0.03%	0.01%	0.01%
NOV	F	0.18%	0.04%	0.04%
NRG	C	0.13%	0.07%	0.07%
NUE	F	0.39%	0.08%	0.08%
NXST	D	0.13%	0.05%	0.05%
OC	D	0.33%	0.07%	0.07%
ODP	F	0.07%	0.02%	0.02%
OGN	D	0.17%	0.08%	0.08%
OI	D	0.08%	0.03%	0.03%
OKE	B	0.19%	0.08%	0.08%
OLN	D	0.12%	0.04%	0.04%
OMC	B	0.19%	0.06%	0.06%
OMF	D	0.12%	0.03%	0.03%
OMI	D	0.08%	0.01%	0.01%
ONB	C	0.14%	0.01%	0.01%
OSK	F	0.16%	0.07%	0.07%
PAG	D	0.13%	0.04%	0.04%
PARA	F	0.04%	0.02%	0.02%
PBF	F	0.15%	0.06%	0.06%
PDCO	F	0.09%	0.03%	0.03%
PEG	B	0.2%	0.05%	0.05%
PFG	B	0.09%	0.01%	0.01%
PHIN	B	0.14%	0.01%	0.01%
PKG	B	0.2%	0.05%	0.05%
PLXS	A	0.03%	0.02%	0.02%
PNC	B	0.2%	0.1%	0.1%
PNM	B	0.08%	0.02%	0.02%
POOL	C	0.1%	0.07%	0.07%
PPG	D	0.17%	0.04%	0.04%
PRG	B	0.16%	0.03%	0.03%
PRIM	B	0.05%	0.03%	0.03%
PRU	C	0.08%	0.25%	0.08%
PSMT	B	0.05%	0.01%	0.01%
PSX	F	0.39%	0.54%	0.39%
PTEN	F	0.17%	0.01%	0.01%
PVH	F	0.19%	0.04%	0.04%
QCOM	D	0.07%	0.62%	0.07%
R	A	0.19%	0.06%	0.06%
REGN	C	0.09%	0.45%	0.09%
REZI	D	0.09%	0.02%	0.02%
RGA	C	0.04%	0.05%	0.04%
RHI	D	0.04%	0.02%	0.02%
RJF	C	0.08%	0.01%	0.01%
RLJ	D	0.12%	0.02%	0.02%
RRC	D	0.11%	0.04%	0.04%
RS	D	0.34%	0.08%	0.08%
RUSHA	C	0.25%	0.03%	0.03%
RYN	C	0.09%	0.02%	0.02%
SAH	D	0.1%	0.01%	0.01%
SAIC	C	0.1%	0.01%	0.01%
SANM	D	0.13%	0.05%	0.05%
SBH	B	0.12%	0.03%	0.03%
SCHL	D	0.11%	0.01%	0.01%
SCL	D	0.02%	0.01%	0.01%
SEB	D	0.21%	0.04%	0.04%
SEE	D	0.04%	0.06%	0.04%
SEIC	C	0.09%	0.07%	0.07%
SEM	D	0.04%	0.03%	0.03%
SHOO	B	0.03%	0.03%	0.03%
SIG	C	0.21%	0.04%	0.04%
SIGI	D	0.04%	0.01%	0.01%
SJM	C	0.38%	0.03%	0.03%
SKX	D	0.08%	0.02%	0.02%
SLGN	B	0.1%	0.04%	0.04%
SLM	D	0.09%	0.06%	0.06%
SLVM	B	0.08%	0.03%	0.03%
SM	F	0.19%	0.03%	0.03%
SNDR	B	0.11%	0.02%	0.02%
SNV	C	0.05%	0.01%	0.01%
SON	C	0.14%	0.04%	0.04%
SPB	C	0.13%	0.01%	0.01%
STC	B	0.03%	0.02%	0.02%
STLD	F	0.37%	0.04%	0.04%
STRA	F	0.04%	0.01%	0.01%
SWX	C	0.09%	0.01%	0.01%
SYF	C	0.43%	0.29%	0.29%
SYY	D	0.09%	0.07%	0.07%
T	C	0.5%	1.23%	0.5%
TAP	D	0.23%	0.08%	0.08%
TEX	F	0.2%	0.06%	0.06%
TFX	C	0.05%	0.03%	0.03%
TGNA	D	0.12%	0.04%	0.04%
TGT	C	0.18%	0.68%	0.18%
THC	A	0.21%	0.27%	0.21%
THO	D	0.14%	0.06%	0.06%
THS	C	0.03%	0.02%	0.02%
TKR	D	0.13%	0.05%	0.05%
TMHC	A	0.25%	0.08%	0.08%
TPH	C	0.2%	0.05%	0.05%
TRGP	B	0.1%	0.13%	0.1%
TROW	D	0.32%	0.08%	0.08%
TRV	C	0.2%	0.32%	0.2%
TSCO	C	0.09%	0.07%	0.07%
TSN	C	0.09%	0.22%	0.09%
TXT	D	0.26%	0.03%	0.03%
UAL	C	0.45%	0.01%	0.01%
UFPI	C	0.14%	0.06%	0.06%
UHAL	A	0.39%	0.03%	0.03%
UHAL	A	0.39%	0.01%	0.01%
UHS	B	0.22%	0.09%	0.09%
UNF	C	0.08%	0.02%	0.02%
UNM	B	0.18%	0.1%	0.1%
UPS	D	0.16%	0.19%	0.16%
URBN	F	0.15%	0.05%	0.05%
USB	B	0.28%	0.11%	0.11%
USFD	B	0.05%	0.09%	0.05%
UTHR	C	0.14%	0.16%	0.14%
UVV	D	0.13%	0.01%	0.01%
VLO	F	0.38%	0.54%	0.38%
VNO	B	0.06%	0.06%	0.06%
VSH	F	0.1%	0.03%	0.03%
VTRS	D	0.39%	0.13%	0.13%
VZ	B	0.37%	1.01%	0.37%
WAFD	C	0.06%	0.01%	0.01%
WAL	B	0.16%	0.01%	0.01%
WBS	D	0.17%	0.01%	0.01%
WCC	D	0.13%	0.08%	0.08%
WERN	D	0.1%	0.02%	0.02%
WFC	D	0.3%	1.4%	0.3%
WGO	D	0.1%	0.01%	0.01%
WHR	D	0.08%	0.04%	0.04%
WMK	C	0.13%	0.01%	0.01%
WMT	C	0.1%	1.87%	0.1%
WOR	D	0.02%	0.01%	0.01%
WPC	C	0.29%	0.05%	0.05%
WRB	C	0.19%	0.02%	0.02%
WTFC	B	0.14%	0.01%	0.01%
WTM	D	0.2%	0.04%	0.04%
WU	F	0.13%	0.08%	0.08%
XHR	B	0.05%	0.02%	0.02%
XOM	C	0.34%	0.99%	0.34%
XRX	D	0.02%	0.02%	0.02%
ZION	D	0.09%	0.03%	0.03%

FAB Overweight 313 Positions Relative to MFUS

Symbol	Grade	Weight
DHI	B	0.59%
ETR	B	0.51%
GPN	D	0.5%
ACGL	C	0.48%
CF	C	0.46%
EG	C	0.44%
APTV	D	0.42%
XEL	B	0.42%
ATO	B	0.41%
ED	C	0.41%
AEP	C	0.41%
AEE	C	0.41%
PCG	C	0.4%
CNC	D	0.4%
BG	D	0.4%
EQT	D	0.39%
CTSH	C	0.39%
DVN	F	0.37%
SNA	C	0.37%
LNG	C	0.36%
WBD	D	0.36%
OXY	F	0.35%
LKQ	F	0.33%
WEC	C	0.31%
CMS	C	0.3%
D	C	0.3%
EIX	C	0.3%
STT	A	0.29%
EQR	B	0.29%
DTE	C	0.29%
ZM	C	0.29%
FE	C	0.29%
SRE	C	0.28%
RF	B	0.28%
TDY	B	0.28%
DE	B	0.27%
LUV	C	0.26%
TEL	D	0.25%
RNR	C	0.25%
ZBH	F	0.25%
RDN	C	0.24%
SWKS	D	0.24%
FDX	C	0.24%
ESGR	D	0.23%
CNXC	F	0.23%
CNP	C	0.23%
FMC	C	0.23%
AGO	C	0.22%
SSNC	B	0.21%
NEE	C	0.21%
PYPL	B	0.21%
KIM	C	0.21%
KRC	B	0.2%
LBRT	D	0.2%
NOG	D	0.2%
MDT	C	0.2%
DAR	F	0.2%
PNW	C	0.2%
VLY	C	0.2%
COLB	B	0.2%
BYD	C	0.19%
EPAM	F	0.19%
BKH	B	0.19%
POR	C	0.19%
APD	B	0.19%
CHK	D	0.19%
OGS	B	0.19%
WY	C	0.19%
AL	D	0.19%
OVV	F	0.18%
ARE	C	0.18%
OZK	D	0.17%
MS	D	0.17%
ADTN	D	0.16%
CLF	F	0.16%
MGY	C	0.16%
GL	C	0.16%
CUZ	B	0.16%
OGE	C	0.15%
NMIH	B	0.15%
INVA	B	0.15%
PNFP	B	0.15%
CCS	B	0.15%
NI	B	0.15%
HE	F	0.15%
NWN	C	0.14%
UAA	C	0.14%
NWE	B	0.14%
EIG	C	0.14%
APA	F	0.14%
AXS	B	0.14%
EBC	B	0.14%
BNL	B	0.14%
BZH	B	0.14%
VAL	F	0.13%
GDEN	D	0.13%
ALK	C	0.13%
PII	D	0.13%
FNB	C	0.13%
IMKTA	D	0.13%
SR	B	0.13%
ATSG	D	0.13%
RYI	D	0.12%
INDB	C	0.12%
RC	F	0.12%
ASH	D	0.12%
AAT	B	0.12%
FCF	C	0.12%
CZR	C	0.12%
LGIH	C	0.12%
NX	F	0.12%
EFSC	B	0.12%
STBA	B	0.12%
HIW	B	0.12%
KOP	F	0.12%
ENVA	C	0.12%
CUBI	F	0.12%
DNB	C	0.11%
OLPX	C	0.11%
UMBF	B	0.11%
FRME	D	0.11%
VTR	C	0.11%
REVG	D	0.11%
OCFC	B	0.11%
KVUE	C	0.11%
CATY	C	0.11%
ATKR	F	0.11%
FFBC	D	0.11%
CBRE	A	0.11%
CABO	F	0.11%
JBT	D	0.11%
BOKF	B	0.1%
HOMB	B	0.1%
IDA	C	0.1%
BLK	B	0.1%
ABT	C	0.1%
HTZ	F	0.1%
ORI	B	0.1%
UBSI	B	0.1%
AWK	B	0.1%
LILAK	D	0.1%
ABR	B	0.1%
REYN	C	0.1%
MAA	B	0.1%
PEBO	C	0.1%
IPGP	F	0.1%
LNT	B	0.1%
USM	C	0.1%
PB	B	0.1%
PRDO	D	0.1%
ABCB	B	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%
MSGE	B	0.09%
J	C	0.09%
HWC	D	0.09%
ASGN	D	0.09%
UGI	C	0.09%
TOWN	B	0.09%
PATK	B	0.09%
LGND	C	0.09%
COLM	C	0.09%
WTRG	D	0.09%
TALO	D	0.09%
MIDD	D	0.09%
PARR	F	0.09%
PRGO	D	0.09%
JCI	B	0.09%
CRC	C	0.09%
VSCO	C	0.09%
MATW	F	0.09%
CRK	D	0.09%
NJR	B	0.09%
SASR	B	0.09%
IAC	C	0.09%
FBNC	B	0.09%
CROX	D	0.08%
NBHC	D	0.08%
RNST	D	0.08%
EQC	C	0.08%
HGV	F	0.08%
BXC	D	0.08%
FIBK	B	0.08%
KMT	B	0.08%
CENX	D	0.08%
SJW	C	0.08%
OMCL	C	0.08%
WSBC	D	0.08%
AX	D	0.08%
WSFS	D	0.08%
FHB	D	0.08%
MCRI	C	0.08%
WLK	D	0.08%
CTOS	F	0.08%
ENS	D	0.08%
HOPE	B	0.08%
BANR	B	0.08%
NWBI	C	0.08%
SNX	D	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%
KOS	F	0.07%
HTLD	D	0.07%
ECVT	F	0.07%
NMRK	A	0.07%
CHGG	F	0.07%
ICUI	B	0.07%
HUM	F	0.07%
CNXN	B	0.06%
SBCF	C	0.06%
TCBI	B	0.06%
UCBI	B	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%
CAR	F	0.06%
SKY	B	0.06%
GTY	B	0.06%
PLUS	A	0.06%
VAC	F	0.06%
DIOD	F	0.06%
MODG	F	0.06%
ROIC	B	0.06%
ZD	D	0.06%
CMCO	F	0.06%
VRTS	F	0.06%
SHEN	F	0.05%
AVNT	B	0.05%
VOYA	B	0.05%
BXMT	C	0.05%
BPOP	C	0.05%
LNN	D	0.05%
EAT	A	0.05%
PTVE	D	0.05%
NVST	D	0.05%
TRS	D	0.05%
PCH	C	0.05%
MAT	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%
VCTR	B	0.05%
SRCE	C	0.05%
SAFT	D	0.05%
LCII	C	0.05%
OEC	F	0.05%
DEA	B	0.05%
CWT	C	0.05%
FOXF	D	0.04%
KWR	D	0.04%
LFUS	C	0.04%
BLMN	F	0.04%
GXO	D	0.04%
NEOG	D	0.04%
MTX	D	0.04%
SUM	D	0.04%
PCRX	F	0.04%
FUL	C	0.04%
KFY	B	0.03%
HMN	D	0.03%
WD	A	0.03%
PGRE	C	0.03%
FBP	C	0.03%
MWA	B	0.03%
ADUS	B	0.03%
BHLB	B	0.03%
NBTB	D	0.03%
FBK	B	0.03%
BOOT	A	0.03%
VSAT	F	0.03%
BMBL	F	0.03%
CBU	C	0.03%
CVCO	A	0.03%
PFS	B	0.03%
FDP	C	0.03%
LTH	B	0.03%
HI	F	0.02%
GO	F	0.02%
ROG	F	0.02%
OXM	F	0.02%
CTS	D	0.02%
CAKE	C	0.02%
THRM	D	0.02%
ENOV	D	0.02%
OII	D	0.02%
ASB	D	0.02%
NVEE	F	0.02%
CMTG	D	0.02%
KFRC	D	0.02%
AIN	D	0.02%
ATUS	C	0.02%
PPBI	D	0.02%
IART	F	0.01%

FAB Underweight 432 Positions Relative to MFUS

Symbol	Grade	Weight
LLY	C	-2.48%
META	B	-2.02%
NVDA	D	-1.6%
AVGO	C	-1.34%
ABBV	C	-1.34%
IBM	B	-1.32%
AMZN	C	-1.27%
COST	B	-1.21%
GOOGL	D	-1.17%
ORCL	C	-1.13%
GE	B	-1.09%
AMGN	B	-1.03%
JPM	D	-0.9%
PG	C	-0.88%
MRK	D	-0.87%
V	C	-0.86%
MA	B	-0.79%
GILD	B	-0.78%
AAPL	C	-0.67%
PEP	C	-0.62%
KO	C	-0.6%
PM	C	-0.56%
PFE	C	-0.53%
MO	C	-0.52%
MCK	F	-0.51%
PGR	B	-0.5%
UNP	C	-0.48%
BKNG	C	-0.47%
NFLX	B	-0.44%
AMAT	D	-0.44%
MMM	B	-0.41%
CAT	B	-0.41%
MCD	B	-0.4%
HD	B	-0.39%
NOW	B	-0.37%
ALL	B	-0.36%
MET	B	-0.36%
CRM	D	-0.35%
CAH	C	-0.35%
TJX	B	-0.34%
CL	D	-0.33%
TMUS	C	-0.31%
AZO	D	-0.3%
ICE	C	-0.29%
BMY	C	-0.28%
BK	B	-0.27%
DHR	B	-0.27%
LRCX	F	-0.27%
VST	C	-0.26%
INTU	C	-0.26%
ANF	D	-0.26%
PANW	D	-0.25%
LII	B	-0.23%
NOC	B	-0.23%
WM	D	-0.23%
BX	B	-0.23%
KLAC	D	-0.23%
CMG	C	-0.22%
FICO	B	-0.22%
SHW	B	-0.21%
TXN	C	-0.21%
UBER	C	-0.21%
VRTX	D	-0.21%
WSM	D	-0.21%
GLW	C	-0.2%
WSO	C	-0.2%
CME	C	-0.2%
VRSK	D	-0.2%
BSX	B	-0.19%
AXP	B	-0.19%
MMC	C	-0.19%
ACN	C	-0.19%
CPRT	D	-0.19%
SFM	B	-0.19%
AON	B	-0.19%
CTAS	B	-0.18%
DVA	B	-0.18%
DPZ	F	-0.18%
ETN	C	-0.18%
ORLY	C	-0.18%
PHM	B	-0.17%
DECK	C	-0.17%
MUSA	D	-0.17%
GWW	B	-0.17%
IT	B	-0.16%
BR	D	-0.16%
SCHW	D	-0.16%
SPG	B	-0.15%
MU	F	-0.15%
EMR	D	-0.15%
CASY	D	-0.15%
MSI	B	-0.15%
CLX	C	-0.15%
WDC	D	-0.15%
TDG	B	-0.15%
BAH	C	-0.14%
WBA	F	-0.14%
SMCI	F	-0.14%
KKR	B	-0.13%
RSG	D	-0.13%
RMD	C	-0.13%
PWR	B	-0.13%
JNPR	B	-0.13%
BRO	C	-0.13%
PH	B	-0.13%
EVR	A	-0.12%
WELL	C	-0.12%
CARR	B	-0.12%
HWM	B	-0.12%
STE	C	-0.12%
ANET	B	-0.12%
AOS	D	-0.11%
XYL	C	-0.11%
RPM	B	-0.11%
MAR	C	-0.11%
IRM	C	-0.11%
GPK	B	-0.1%
AVY	C	-0.1%
TOL	B	-0.1%
YUM	D	-0.1%
APH	D	-0.1%
JKHY	B	-0.1%
MRO	C	-0.1%
APO	C	-0.1%
FTI	D	-0.1%
FAST	C	-0.1%
CRS	B	-0.1%
ERIE	B	-0.09%
ADSK	C	-0.09%
ADP	B	-0.09%
SLB	F	-0.09%
IR	C	-0.09%
EA	D	-0.09%
CHRW	B	-0.09%
BDX	D	-0.09%
TFC	C	-0.09%
DASH	C	-0.09%
FCX	D	-0.09%
HRB	C	-0.09%
CEG	C	-0.09%
ARES	B	-0.09%
AJG	D	-0.09%
URI	B	-0.09%
EFX	B	-0.09%
GDDY	C	-0.09%
NEM	B	-0.09%
MTD	D	-0.08%
DFS	B	-0.08%
LECO	F	-0.08%
TYL	C	-0.08%
FIS	B	-0.08%
ALSN	B	-0.08%
PCAR	D	-0.08%
WMB	B	-0.08%
AMP	A	-0.08%
ITT	B	-0.08%
ECL	B	-0.08%
HLT	B	-0.08%
RCL	B	-0.08%
LUMN	C	-0.08%
BWXT	D	-0.08%
ITW	C	-0.08%
LDOS	B	-0.08%
IEX	D	-0.08%
NTAP	D	-0.08%
MPWR	C	-0.08%
DLR	B	-0.08%
CW	B	-0.08%
HUBB	B	-0.08%
CSX	D	-0.08%
PNR	B	-0.08%
CHD	D	-0.07%
SLG	B	-0.07%
OTIS	C	-0.07%
FCN	D	-0.07%
EQH	C	-0.07%
NVR	B	-0.07%
LPLA	D	-0.07%
ATR	B	-0.07%
GLPI	C	-0.07%
TTC	D	-0.07%
ROST	C	-0.07%
TTWO	C	-0.07%
EXR	B	-0.07%
MSCI	C	-0.07%
BALL	C	-0.07%
TPX	C	-0.06%
MNST	D	-0.06%
PK	D	-0.06%
KD	D	-0.06%
MSM	D	-0.06%
SBUX	C	-0.06%
HCC	F	-0.06%
FTNT	C	-0.06%
IDXX	C	-0.06%
CPT	B	-0.06%
CHE	C	-0.06%
MAS	B	-0.06%
MLM	D	-0.06%
NSIT	D	-0.06%
X	F	-0.06%
INVH	C	-0.06%
INGR	B	-0.06%
SCI	B	-0.06%
ROP	C	-0.06%
SPGI	B	-0.06%
GNTX	F	-0.06%
VMC	D	-0.06%
COIN	F	-0.06%
NWSA	D	-0.06%
ATGE	C	-0.05%
CCL	C	-0.05%
WAT	C	-0.05%
CBT	B	-0.05%
SKYW	C	-0.05%
ATI	C	-0.05%
WEN	C	-0.05%
ROL	C	-0.05%
LAMR	B	-0.05%
LOPE	D	-0.05%
MTN	D	-0.05%
WTW	C	-0.05%
VIRT	C	-0.05%
TW	B	-0.05%
TXRH	C	-0.05%
NYT	C	-0.05%
PTC	D	-0.05%
A	C	-0.05%
FCNCA	D	-0.05%
DELL	D	-0.05%
IBKR	B	-0.05%
FL	D	-0.05%
POST	C	-0.05%
FIX	B	-0.05%
CPAY	B	-0.05%
FDS	C	-0.05%
SUI	B	-0.05%
FLEX	C	-0.05%
CDW	D	-0.05%
EXP	B	-0.05%
KTB	B	-0.05%
ANSS	D	-0.05%
APLE	D	-0.04%
LW	D	-0.04%
SAIA	D	-0.04%
RL	C	-0.04%
BLDR	C	-0.04%
COLD	D	-0.04%
GATX	D	-0.04%
VC	F	-0.04%
BAX	C	-0.04%
XRAY	D	-0.04%
PR	F	-0.04%
AMH	C	-0.04%
HEI	B	-0.04%
RGLD	C	-0.04%
GVA	B	-0.04%
NBIX	F	-0.04%
ENTG	F	-0.04%
PINS	F	-0.04%
ELS	C	-0.04%
VRSN	D	-0.04%
MAN	C	-0.04%
FFIV	B	-0.04%
FLO	C	-0.04%
MOG.A	B	-0.04%
DCI	C	-0.04%
ADBE	F	-0.04%
HXL	F	-0.04%
THG	B	-0.04%
GGG	C	-0.04%
ZTS	C	-0.04%
SRCL	A	-0.04%
ACM	B	-0.04%
NDSN	C	-0.04%
WST	D	-0.04%
STZ	D	-0.04%
GNRC	D	-0.04%
WAB	B	-0.04%
SMG	C	-0.04%
CLH	A	-0.04%
CUBE	B	-0.04%
ULTA	D	-0.04%
MAC	B	-0.04%
AKAM	D	-0.03%
NEU	D	-0.03%
SSD	D	-0.03%
DRI	B	-0.03%
OKTA	F	-0.03%
COKE	C	-0.03%
HOOD	C	-0.03%
VVV	D	-0.03%
FR	B	-0.03%
MC	B	-0.03%
RLI	B	-0.03%
SBAC	C	-0.03%
BRKR	D	-0.03%
BURL	B	-0.03%
AWI	B	-0.03%
YELP	F	-0.03%
GBX	C	-0.03%
UDR	C	-0.03%
WH	B	-0.03%
DBRG	D	-0.03%
BFAM	C	-0.03%
MORN	C	-0.03%
EQIX	C	-0.03%
WTS	C	-0.03%
MCO	B	-0.03%
DLB	D	-0.03%
RPRX	C	-0.03%
HBI	B	-0.03%
TRN	D	-0.03%
BLD	D	-0.03%
MANH	B	-0.03%
EME	B	-0.03%
TDS	C	-0.03%
ACA	B	-0.03%
FND	C	-0.03%
DOX	C	-0.03%
HOLX	B	-0.03%
MSA	D	-0.03%
XPO	D	-0.03%
CVLT	B	-0.03%
APP	C	-0.03%
TER	D	-0.03%
JHG	B	-0.03%
AES	C	-0.03%
APG	D	-0.03%
IFF	B	-0.03%
PSTG	F	-0.03%
AROC	D	-0.03%
CPNG	B	-0.03%
PAYX	C	-0.03%
PSA	B	-0.03%
JWN	C	-0.03%
AVTR	B	-0.03%
LEG	D	-0.02%
ODFL	D	-0.02%
TTEK	C	-0.02%
VFC	C	-0.02%
NWL	C	-0.02%
BXP	B	-0.02%
CHDN	C	-0.02%
OSIS	D	-0.02%
HST	C	-0.02%
SNAP	F	-0.02%
BMRN	F	-0.02%
CC	F	-0.02%
IGT	D	-0.02%
SAM	F	-0.02%
GWRE	A	-0.02%
AIT	A	-0.02%
NTCT	C	-0.02%
AA	D	-0.02%
PMT	C	-0.02%
SXT	C	-0.02%
KBR	D	-0.02%
NSP	F	-0.02%
VSTO	C	-0.02%
PSN	B	-0.02%
WMS	D	-0.02%
FLS	D	-0.02%
MKTX	C	-0.02%
PFSI	C	-0.02%
CG	D	-0.02%
HAE	F	-0.02%
GMED	D	-0.02%
AIR	C	-0.02%
KMPR	D	-0.02%
CTLT	B	-0.02%
LNW	B	-0.02%
ORA	C	-0.02%
COHR	C	-0.02%
ALGN	D	-0.02%
AXTA	B	-0.02%
TDC	F	-0.02%
EXEL	C	-0.02%
DRH	C	-0.02%
PINC	C	-0.02%
NTRS	A	-0.02%
MASI	F	-0.02%
VNT	F	-0.02%
SHO	C	-0.02%
NDAQ	A	-0.02%
GEHC	C	-0.02%
NVT	D	-0.02%
DLTR	F	-0.02%
LYFT	D	-0.01%
SCCO	D	-0.01%
ACI	F	-0.01%
SWN	D	-0.01%
ECPG	D	-0.01%
MKSI	F	-0.01%
TPR	C	-0.01%
ESI	D	-0.01%
QRVO	F	-0.01%
HUN	D	-0.01%
ELAN	D	-0.01%
CNM	F	-0.01%
SYNA	F	-0.01%
ESAB	C	-0.01%
FLR	D	-0.01%
LVS	D	-0.01%
AMED	C	-0.01%
FELE	C	-0.01%
BRC	C	-0.01%
DY	B	-0.01%
PECO	B	-0.01%
CR	C	-0.01%
CBSH	C	-0.01%
SF	A	-0.01%
TTMI	D	-0.01%
CPRI	D	-0.01%
AMWD	D	-0.01%
TREX	D	-0.01%
WWD	D	-0.01%
LAUR	C	-0.01%
H	C	-0.01%
RBC	C	-0.01%
IOSP	D	-0.01%
MHK	C	-0.01%
LADR	B	-0.01%
GOLF	D	-0.01%
TNET	F	-0.01%
BHE	D	-0.01%
OLLI	C	-0.01%
SCS	D	-0.01%
CSL	B	-0.01%
SATS	C	-0.01%
NOMD	B	-0.0%
WOLF	F	-0.0%