FAD vs. VONG ETF Comparison

Comparison of First Trust MuFirst Trust Multi CG AlphaDEX (FAD) to Vanguard Russell 1000 Growth ETF (VONG)

FAD

First Trust MuFirst Trust Multi CG AlphaDEX

FAD 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 Growth 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) Growth 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

$148.38

Average Daily Volume

4,463

Number of Holdings ^*

640

* may have additional holdings in another (foreign) market

VONG

Vanguard Russell 1000 Growth ETF

VONG Description

The investment seeks to track the performance of a benchmark index that measures the investment return of large-capitalization growth stocks in the United States. The fund employs an indexing investment approach designed to track the performance of the Russell 1000® Growth Index. The index is designed to measure the performance of large-capitalization growth stocks in the United States. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Grade (RS Rating)

Last Trade

$101.44

Average Daily Volume

697,039

Number of Holdings ^*

386

* may have additional holdings in another (foreign) market

Performance

Period	FAD	VONG
30 Days	9.58%	4.08%
60 Days	11.65%	5.73%
90 Days	14.77%	7.25%
12 Months	44.05%	36.29%

198 Overlapping Holdings

	Symbol	Grade	Weight in FAD	Weight in VONG	Overlap
	AAON	B	0.2%	0.03%	0.03%
	AAPL	C	0.17%	11.94%	0.17%
	ADP	B	0.09%	0.4%	0.09%
	ADSK	A	0.19%	0.22%	0.19%
	AJG	B	0.26%	0.02%	0.02%
	ALL	A	0.44%	0.03%	0.03%
	ALNY	D	0.29%	0.11%	0.11%
	AM	A	0.04%	0.01%	0.01%
	AMGN	D	0.15%	0.49%	0.15%
	AMP	A	0.41%	0.17%	0.17%
	AMT	D	0.21%	0.36%	0.21%
	AMZN	C	0.18%	6.3%	0.18%
	ANET	C	0.33%	0.36%	0.33%
	APH	A	0.18%	0.17%	0.17%
	APO	B	0.32%	0.2%	0.2%
	APP	B	0.96%	0.16%	0.16%
	APPF	B	0.04%	0.02%	0.02%
	ARES	A	0.18%	0.11%	0.11%
	AVGO	D	0.32%	2.81%	0.32%
	AWI	A	0.15%	0.01%	0.01%
	AXON	A	0.63%	0.11%	0.11%
	AXP	A	0.44%	0.21%	0.21%
	AZEK	A	0.12%	0.02%	0.02%
	AZO	C	0.17%	0.17%	0.17%
	BAH	F	0.29%	0.08%	0.08%
	BFAM	D	0.16%	0.0%	0.0%
	BKNG	A	0.29%	0.54%	0.29%
	BLD	D	0.15%	0.0%	0.0%
	BR	A	0.26%	0.08%	0.08%
	BRKR	D	0.03%	0.01%	0.01%
	BRO	B	0.36%	0.04%	0.04%
	BURL	A	0.44%	0.06%	0.06%
	BWXT	B	0.15%	0.01%	0.01%
	CASY	A	0.27%	0.01%	0.01%
	CAT	B	0.33%	0.09%	0.09%
	CEG	D	0.37%	0.05%	0.05%
	CHDN	B	0.09%	0.04%	0.04%
	CHE	D	0.04%	0.0%	0.0%
	CHH	A	0.05%	0.01%	0.01%
	CL	D	0.22%	0.15%	0.15%
	CMG	B	0.08%	0.28%	0.08%
	CNM	D	0.04%	0.02%	0.02%
	COIN	C	0.31%	0.11%	0.11%
	COST	B	0.35%	1.41%	0.35%
	CPAY	A	0.2%	0.08%	0.08%
	CPNG	D	0.42%	0.11%	0.11%
	CRM	B	0.1%	0.84%	0.1%
	CROX	D	0.08%	0.0%	0.0%
	CRWD	B	0.1%	0.24%	0.1%
	CSL	C	0.24%	0.01%	0.01%
	CTAS	B	0.35%	0.25%	0.25%
	CVNA	B	0.59%	0.03%	0.03%
	DASH	A	0.51%	0.17%	0.17%
	DAY	B	0.05%	0.0%	0.0%
	DBX	B	0.09%	0.01%	0.01%
	DECK	A	0.27%	0.09%	0.09%
	DELL	C	0.19%	0.02%	0.02%
	DKNG	B	0.09%	0.06%	0.06%
	DKS	C	0.12%	0.0%	0.0%
	DOCS	C	0.14%	0.0%	0.0%
	DOCU	A	0.16%	0.05%	0.05%
	DT	C	0.12%	0.06%	0.06%
	DUOL	A	0.23%	0.04%	0.04%
	DVA	B	0.2%	0.03%	0.03%
	ECL	D	0.24%	0.19%	0.19%
	EFX	F	0.21%	0.02%	0.02%
	EME	C	0.49%	0.03%	0.03%
	EQIX	A	0.08%	0.02%	0.02%
	EXEL	B	0.22%	0.03%	0.03%
	EXP	A	0.17%	0.03%	0.03%
	EXPE	B	0.51%	0.07%	0.07%
	FAST	B	0.09%	0.14%	0.09%
	FI	A	0.4%	0.13%	0.13%
	FICO	B	0.49%	0.15%	0.15%
	FIX	A	0.24%	0.05%	0.05%
	FND	C	0.07%	0.01%	0.01%
	FOUR	B	0.24%	0.02%	0.02%
	FRPT	B	0.18%	0.01%	0.01%
	FTNT	C	0.29%	0.15%	0.15%
	GDDY	A	0.5%	0.09%	0.09%
	GE	D	0.32%	0.15%	0.15%
	GOOGL	C	0.09%	3.66%	0.09%
	GS	A	0.5%	0.16%	0.16%
	GWRE	A	0.18%	0.03%	0.03%
	GWW	B	0.28%	0.15%	0.15%
	H	B	0.04%	0.0%	0.0%
	HCA	F	0.35%	0.06%	0.06%
	HEI	B	0.44%	0.06%	0.06%
	HEI	B	0.44%	0.04%	0.04%
	HLI	B	0.19%	0.0%	0.0%
	HLT	A	0.27%	0.11%	0.11%
	HRB	D	0.16%	0.01%	0.01%
	HWM	A	0.48%	0.01%	0.01%
	INSP	D	0.1%	0.02%	0.02%
	IRDM	D	0.02%	0.0%	0.0%
	IRM	D	0.41%	0.07%	0.07%
	ISRG	A	0.27%	0.65%	0.27%
	IT	C	0.17%	0.14%	0.14%
	ITCI	C	0.09%	0.03%	0.03%
	ITW	B	0.08%	0.11%	0.08%
	KKR	A	0.49%	0.1%	0.1%
	KLAC	D	0.07%	0.33%	0.07%
	KMB	D	0.08%	0.07%	0.07%
	KNSL	B	0.08%	0.03%	0.03%
	KO	D	0.15%	0.53%	0.15%
	LAMR	D	0.08%	0.01%	0.01%
	LII	A	0.35%	0.07%	0.07%
	LLY	F	0.14%	2.42%	0.14%
	LNW	D	0.04%	0.03%	0.03%
	LOPE	B	0.05%	0.0%	0.0%
	LPLA	A	0.11%	0.08%	0.08%
	LVS	C	0.24%	0.07%	0.07%
	LYFT	C	0.06%	0.01%	0.01%
	LYV	A	0.41%	0.07%	0.07%
	MA	C	0.09%	1.5%	0.09%
	MANH	D	0.24%	0.06%	0.06%
	MASI	A	0.05%	0.01%	0.01%
	MCD	D	0.16%	0.05%	0.05%
	MCO	B	0.25%	0.26%	0.25%
	MEDP	D	0.04%	0.03%	0.03%
	META	D	0.33%	4.52%	0.33%
	MKL	A	0.09%	0.02%	0.02%
	MMC	B	0.17%	0.05%	0.05%
	MORN	B	0.04%	0.03%	0.03%
	MPWR	F	0.11%	0.13%	0.11%
	MSCI	C	0.08%	0.09%	0.08%
	MSGS	A	0.09%	0.0%	0.0%
	MSI	B	0.37%	0.13%	0.13%
	MSTR	C	0.19%	0.01%	0.01%
	NCLH	B	0.16%	0.04%	0.04%
	NFLX	A	0.29%	1.18%	0.29%
	NOW	A	0.38%	0.7%	0.38%
	NRG	B	0.43%	0.03%	0.03%
	NTAP	C	0.24%	0.04%	0.04%
	NTNX	A	0.05%	0.02%	0.02%
	NTRA	B	0.25%	0.05%	0.05%
	NVDA	C	0.39%	11.3%	0.39%
	ORCL	B	0.37%	0.96%	0.37%
	ORLY	B	0.18%	0.22%	0.18%
	OWL	A	0.05%	0.04%	0.04%
	PANW	C	0.19%	0.4%	0.19%
	PAYC	B	0.05%	0.02%	0.02%
	PAYX	C	0.09%	0.06%	0.06%
	PCTY	B	0.1%	0.03%	0.03%
	PEGA	A	0.19%	0.01%	0.01%
	PG	A	0.08%	0.32%	0.08%
	PGR	A	0.43%	0.44%	0.43%
	PLNT	A	0.15%	0.01%	0.01%
	PLTR	B	0.69%	0.3%	0.3%
	PODD	C	0.19%	0.06%	0.06%
	PSA	D	0.23%	0.03%	0.03%
	PWR	A	0.46%	0.05%	0.05%
	QCOM	F	0.08%	0.62%	0.08%
	RARE	D	0.1%	0.02%	0.02%
	RBLX	C	0.39%	0.1%	0.1%
	RCL	A	0.55%	0.06%	0.06%
	RLI	B	0.09%	0.0%	0.0%
	RMD	C	0.33%	0.03%	0.03%
	RNG	B	0.08%	0.01%	0.01%
	ROL	B	0.17%	0.05%	0.05%
	ROST	C	0.16%	0.04%	0.04%
	RYAN	B	0.13%	0.02%	0.02%
	S	B	0.14%	0.0%	0.0%
	SHW	A	0.33%	0.28%	0.28%
	SOFI	A	0.3%	0.01%	0.01%
	SPG	B	0.18%	0.05%	0.05%
	SSD	D	0.04%	0.0%	0.0%
	SYK	C	0.09%	0.14%	0.09%
	TDG	D	0.3%	0.05%	0.05%
	TJX	A	0.25%	0.28%	0.25%
	TKO	B	0.17%	0.0%	0.0%
	TOST	B	0.23%	0.05%	0.05%
	TPG	A	0.19%	0.01%	0.01%
	TPL	A	0.39%	0.08%	0.08%
	TRGP	B	0.57%	0.13%	0.13%
	TSCO	D	0.23%	0.1%	0.1%
	TSLA	B	0.22%	2.52%	0.22%
	TT	A	0.44%	0.1%	0.1%
	TTD	B	0.26%	0.19%	0.19%
	TTEK	F	0.18%	0.01%	0.01%
	TW	A	0.13%	0.02%	0.02%
	TXRH	C	0.18%	0.05%	0.05%
	TYL	B	0.25%	0.08%	0.08%
	U	C	0.03%	0.01%	0.01%
	UBER	D	0.23%	0.53%	0.23%
	URI	B	0.43%	0.05%	0.05%
	VLTO	D	0.23%	0.04%	0.04%
	VRT	B	0.52%	0.14%	0.14%
	VRTX	F	0.08%	0.22%	0.08%
	VST	B	0.52%	0.16%	0.16%
	WAT	B	0.08%	0.04%	0.04%
	WDAY	B	0.09%	0.18%	0.09%
	WEN	D	0.02%	0.01%	0.01%
	WING	D	0.1%	0.03%	0.03%
	WM	A	0.09%	0.31%	0.09%
	WSM	B	0.15%	0.04%	0.04%
	WYNN	D	0.12%	0.0%	0.0%
	ZTS	D	0.07%	0.25%	0.07%

FAD Overweight 443 Positions Relative to VONG

	Symbol	Grade	Weight
	HOOD	B	0.5%
	BK	A	0.46%
	CCL	B	0.45%
	WAB	B	0.45%
	VTR	C	0.42%
	UTHR	C	0.42%
	NTRS	A	0.41%
	GRMN	B	0.4%
	FCNCA	A	0.4%
	TMUS	B	0.39%
	THC	D	0.39%
	JPM	A	0.39%
	ACGL	D	0.37%
	PM	B	0.37%
	PH	A	0.37%
	PCG	A	0.36%
	GEN	B	0.36%
	BSX	B	0.36%
	PEG	A	0.34%
	FSLR	F	0.33%
	AFRM	B	0.32%
	IBM	C	0.32%
	ERIE	D	0.32%
	NEE	D	0.31%
	SFM	A	0.27%
	NDAQ	A	0.27%
	HUBB	B	0.26%
	WELL	A	0.26%
	WSO	A	0.26%
	AX	A	0.26%
	PIPR	B	0.25%
	QTWO	A	0.25%
	BRK.A	B	0.25%
	ALSN	B	0.25%
	HLNE	B	0.24%
	CORT	B	0.24%
	RDNT	B	0.24%
	RKLB	B	0.24%
	SPGI	C	0.24%
	SO	D	0.24%
	ICE	C	0.24%
	SFBS	B	0.24%
	KTB	B	0.23%
	CSWI	A	0.23%
	CRS	A	0.23%
	IBKR	A	0.22%
	KNF	A	0.22%
	ACIW	B	0.22%
	COHR	B	0.22%
	XYL	D	0.22%
	CW	B	0.22%
	MOG.A	B	0.22%
	CVLT	B	0.22%
	ITRI	B	0.22%
	DY	D	0.21%
	ENSG	D	0.21%
	EWBC	A	0.21%
	WMB	A	0.21%
	IOT	A	0.21%
	MOD	A	0.2%
	AIT	A	0.2%
	LTH	C	0.2%
	FFIN	B	0.19%
	MO	A	0.19%
	PSN	D	0.19%
	HIMS	B	0.19%
	GMED	A	0.19%
	COKE	C	0.19%
	MAR	B	0.19%
	EAT	A	0.19%
	EXLS	B	0.19%
	MMSI	B	0.18%
	RSG	A	0.18%
	DOV	A	0.18%
	ATI	D	0.18%
	RL	B	0.18%
	CRVL	A	0.18%
	ETN	A	0.18%
	SLG	B	0.18%
	CACI	D	0.18%
	BOOT	D	0.17%
	CBOE	B	0.17%
	ADC	B	0.17%
	PAYO	A	0.17%
	ANF	C	0.17%
	ITT	A	0.17%
	EHC	B	0.17%
	ITGR	B	0.17%
	AUR	C	0.17%
	KEX	C	0.17%
	IR	B	0.17%
	ROAD	A	0.16%
	IDCC	A	0.16%
	POWL	C	0.16%
	IESC	B	0.16%
	FSS	B	0.16%
	VICI	C	0.16%
	CBT	C	0.16%
	BMI	B	0.16%
	EPRT	B	0.16%
	PRIM	A	0.16%
	OTIS	C	0.16%
	AVAV	D	0.16%
	BCO	D	0.16%
	CRDO	B	0.16%
	TRUP	B	0.15%
	GVA	A	0.15%
	AYI	B	0.15%
	KAI	A	0.15%
	LMND	B	0.15%
	IBOC	A	0.15%
	WWW	B	0.15%
	BRBR	A	0.15%
	O	D	0.15%
	RIVN	F	0.15%
	TGTX	B	0.15%
	STRL	B	0.15%
	EXR	D	0.15%
	PI	D	0.14%
	FTDR	A	0.14%
	FFIV	B	0.14%
	SCI	B	0.14%
	PRCT	B	0.14%
	ZETA	D	0.14%
	STEP	B	0.14%
	WHD	B	0.14%
	CNK	B	0.14%
	IBP	D	0.14%
	ATGE	B	0.14%
	PJT	A	0.14%
	MCY	A	0.14%
	USLM	A	0.14%
	HOMB	A	0.14%
	PRI	A	0.14%
	ONB	B	0.14%
	LRN	A	0.14%
	ENVA	B	0.14%
	SMG	D	0.14%
	FLS	B	0.14%
	QCRH	A	0.14%
	WULF	C	0.14%
	LNTH	D	0.14%
	TBBK	B	0.13%
	CLH	B	0.13%
	BDC	B	0.13%
	REVG	B	0.13%
	ACLX	C	0.13%
	GSHD	A	0.13%
	AXSM	B	0.13%
	BOX	B	0.13%
	TRN	C	0.13%
	VCYT	B	0.13%
	CNS	B	0.13%
	HASI	D	0.13%
	RYTM	C	0.13%
	OLLI	D	0.12%
	CHEF	A	0.12%
	HWKN	B	0.12%
	ADMA	B	0.12%
	NYT	C	0.12%
	NHC	C	0.12%
	DSGR	D	0.12%
	ALLE	D	0.12%
	SKWD	A	0.12%
	SLVM	B	0.12%
	AMRX	C	0.12%
	CALM	A	0.12%
	OHI	C	0.12%
	SBRA	C	0.12%
	HNI	B	0.12%
	PBI	B	0.12%
	SKYW	B	0.12%
	WWD	B	0.12%
	HALO	F	0.12%
	LMAT	A	0.11%
	KYMR	D	0.11%
	PTGX	C	0.11%
	DTM	B	0.11%
	MWA	B	0.11%
	OSW	A	0.11%
	VRNS	D	0.11%
	PRK	B	0.11%
	NBHC	B	0.11%
	PLMR	B	0.11%
	PRM	C	0.11%
	ALKT	B	0.11%
	VCTR	B	0.11%
	RNA	D	0.11%
	INTA	A	0.11%
	ALHC	C	0.11%
	SYBT	B	0.11%
	DORM	B	0.11%
	INSM	C	0.11%
	CWAN	B	0.11%
	CDE	D	0.11%
	AGIO	C	0.11%
	PTON	B	0.11%
	SATS	D	0.11%
	SGBX	F	0.11%
	OUT	A	0.1%
	ESAB	B	0.1%
	GME	C	0.1%
	LFST	C	0.1%
	AORT	B	0.1%
	SMTC	B	0.1%
	CENX	B	0.1%
	SABR	C	0.1%
	RVMD	C	0.1%
	CPRX	C	0.1%
	MTCH	D	0.1%
	CBSH	A	0.1%
	CCOI	B	0.1%
	PTCT	B	0.1%
	CRUS	D	0.1%
	JANX	C	0.1%
	MIRM	B	0.1%
	CRAI	B	0.1%
	MNKD	C	0.1%
	CFR	B	0.1%
	TGLS	B	0.1%
	CHWY	B	0.1%
	REG	B	0.09%
	EEFT	B	0.09%
	AES	F	0.09%
	TMDX	F	0.09%
	ORA	B	0.09%
	IRT	A	0.09%
	RHP	B	0.09%
	CHD	B	0.09%
	ATR	B	0.09%
	MKTX	D	0.09%
	BRX	A	0.09%
	GKOS	B	0.09%
	NMIH	D	0.09%
	WTTR	B	0.09%
	BCRX	D	0.09%
	LITE	B	0.09%
	AON	A	0.09%
	CWST	A	0.09%
	OSCR	D	0.09%
	VERX	B	0.09%
	AXTA	A	0.09%
	RUN	F	0.09%
	DLR	B	0.09%
	GPN	B	0.09%
	YOU	D	0.09%
	WTM	A	0.09%
	PRGS	A	0.09%
	FBP	B	0.09%
	NPAB	B	0.09%
	CUBE	D	0.08%
	BLBD	D	0.08%
	SBAC	D	0.08%
	UE	C	0.08%
	AGNC	D	0.08%
	MU	D	0.08%
	HURN	B	0.08%
	LIN	D	0.08%
	CHCO	B	0.08%
	OII	B	0.08%
	GLPI	C	0.08%
	HRMY	D	0.08%
	ESE	B	0.08%
	SHAK	C	0.08%
	GPK	C	0.08%
	MGNI	A	0.08%
	VITL	D	0.08%
	GERN	D	0.08%
	GAP	C	0.08%
	CPT	B	0.08%
	BLKB	B	0.08%
	CIFR	B	0.08%
	BPMC	C	0.08%
	CTRE	D	0.08%
	BANF	B	0.08%
	CAKE	C	0.08%
	BGC	C	0.08%
	WT	B	0.08%
	APOG	B	0.08%
	SITM	B	0.08%
	GABC	B	0.08%
	CARG	C	0.08%
	AVB	B	0.08%
	SEMR	B	0.08%
	BCPC	B	0.08%
	ASTH	D	0.08%
	ESS	B	0.08%
	MBIN	D	0.08%
	KRG	B	0.08%
	UFPT	B	0.08%
	PMT	D	0.07%
	CWT	D	0.07%
	AOS	F	0.07%
	WRBY	B	0.07%
	VRRM	D	0.07%
	ESRT	C	0.07%
	NRIX	D	0.07%
	EXPO	D	0.07%
	A	D	0.07%
	KN	B	0.07%
	OSIS	B	0.07%
	AAT	B	0.07%
	FCN	D	0.07%
	CCI	D	0.07%
	COLL	F	0.07%
	AZZ	B	0.07%
	KTOS	B	0.07%
	GFF	A	0.07%
	IIPR	D	0.06%
	MGEE	C	0.06%
	DRVN	B	0.06%
	GTLS	B	0.06%
	TNL	A	0.06%
	AROC	B	0.06%
	HEES	B	0.06%
	ICFI	F	0.06%
	BLFS	C	0.06%
	HLIT	D	0.06%
	CEIX	A	0.06%
	CLSK	C	0.06%
	FLNC	C	0.06%
	ADUS	D	0.06%
	ASPN	F	0.06%
	KNTK	B	0.06%
	IOVA	F	0.06%
	NSA	D	0.06%
	DOCN	D	0.06%
	AMPH	D	0.06%
	MTD	D	0.06%
	BRC	D	0.06%
	TWST	D	0.06%
	NHI	D	0.06%
	CMPR	D	0.05%
	GTX	D	0.05%
	AESI	B	0.05%
	SXT	B	0.05%
	JJSF	B	0.05%
	IAS	C	0.05%
	MARA	C	0.05%
	UMH	C	0.05%
	KW	B	0.05%
	AIV	C	0.05%
	TRMB	B	0.05%
	SCS	C	0.05%
	FCPT	C	0.05%
	CDP	C	0.05%
	SWI	B	0.05%
	GATX	A	0.05%
	TNDM	F	0.05%
	OCUL	D	0.05%
	GTY	B	0.05%
	ARQT	C	0.05%
	NEO	C	0.05%
	NXRT	B	0.05%
	CPK	A	0.05%
	KD	B	0.05%
	MAC	B	0.05%
	WDFC	B	0.05%
	ACVA	B	0.05%
	SKT	B	0.05%
	BANC	A	0.05%
	GH	B	0.05%
	AGM	C	0.05%
	LGND	B	0.05%
	SXI	B	0.05%
	AGYS	A	0.05%
	BKD	D	0.05%
	LKFN	B	0.05%
	EPAC	B	0.05%
	NNN	D	0.04%
	ELAN	D	0.04%
	EGP	F	0.04%
	FR	C	0.04%
	CDRE	D	0.04%
	HUMA	F	0.04%
	MYGN	F	0.04%
	PHR	F	0.04%
	DNLI	D	0.04%
	IPAR	B	0.04%
	ROIV	C	0.04%
	NEU	C	0.04%
	UDR	B	0.04%
	EVH	F	0.04%
	ESI	A	0.04%
	DCI	B	0.04%
	ALX	D	0.04%
	RXST	F	0.04%
	RGLD	C	0.04%
	EPR	D	0.04%
	ELME	D	0.04%
	MAIN	A	0.04%
	CRNX	C	0.04%
	NVAX	F	0.04%
	HLX	B	0.04%
	ANIP	F	0.04%
	RBC	A	0.04%
	GOLF	B	0.04%
	MLNK	B	0.03%
	PLAY	D	0.03%
	APPN	B	0.03%
	LCID	F	0.03%
	APAM	B	0.03%
	SMPL	B	0.03%
	ACAD	D	0.03%
	CTS	C	0.03%
	CARS	B	0.03%
	WABC	B	0.03%
	CBZ	B	0.03%
	TDW	F	0.03%
	SOUN	C	0.03%
	PAR	B	0.03%
	MIR	A	0.03%
	TGI	B	0.03%
	ARDX	F	0.03%
	TECH	D	0.03%
	CLDX	F	0.02%
	RLAY	F	0.02%
	XPRO	F	0.02%
	LPG	F	0.02%
	VECO	F	0.02%
	AZTA	D	0.02%
	JAMF	F	0.02%
	JOE	F	0.02%
	GNL	F	0.02%
	NSSC	D	0.02%
	PZZA	D	0.02%
	TNC	D	0.02%
	FOLD	F	0.02%
	ENVX	F	0.02%
	RRR	D	0.02%
	ARLO	C	0.02%
	BXMT	C	0.02%
	AMC	C	0.02%
	BEAM	D	0.02%
	FBRT	C	0.02%
	AWR	B	0.02%
	YELP	C	0.02%
	THR	B	0.02%
	STRA	C	0.02%
	LTC	B	0.02%
	TR	B	0.02%
	BL	B	0.02%
	CLB	B	0.02%

FAD Underweight 188 Positions Relative to VONG

	Symbol	Grade	Weight
	MSFT	F	-10.99%
	GOOG	C	-3.09%
	V	A	-1.66%
	HD	A	-1.13%
	MRK	F	-0.94%
	ADBE	C	-0.77%
	PEP	F	-0.66%
	INTU	C	-0.61%
	ABBV	D	-0.57%
	AMD	F	-0.56%
	AMAT	F	-0.5%
	BX	A	-0.43%
	LRCX	F	-0.35%
	SBUX	A	-0.31%
	SNPS	B	-0.28%
	CDNS	B	-0.27%
	UNP	C	-0.25%
	SPOT	B	-0.21%
	NKE	D	-0.21%
	ABNB	C	-0.21%
	NU	C	-0.17%
	CPRT	A	-0.15%
	LMT	D	-0.14%
	DDOG	A	-0.14%
	COR	B	-0.14%
	VRSK	A	-0.14%
	ODFL	B	-0.14%
	UNH	C	-0.13%
	LULU	C	-0.13%
	SNOW	C	-0.13%
	IDXX	F	-0.12%
	TEAM	A	-0.11%
	MNST	C	-0.11%
	VEEV	C	-0.11%
	NET	B	-0.1%
	HUBS	A	-0.1%
	MCK	B	-0.1%
	DXCM	D	-0.1%
	HES	B	-0.09%
	HON	B	-0.08%
	TXN	C	-0.08%
	LNG	B	-0.08%
	SYY	B	-0.08%
	MDB	C	-0.07%
	PINS	D	-0.07%
	CLX	B	-0.07%
	ULTA	F	-0.06%
	CAH	B	-0.06%
	ENTG	D	-0.06%
	ZS	C	-0.06%
	BA	F	-0.06%
	SQ	B	-0.06%
	CDW	F	-0.05%
	MMM	D	-0.05%
	PTC	A	-0.05%
	PSTG	D	-0.05%
	POOL	C	-0.05%
	WST	C	-0.05%
	YUM	B	-0.05%
	SMCI	F	-0.05%
	EQH	B	-0.05%
	XPO	B	-0.05%
	ELV	F	-0.05%
	TER	D	-0.05%
	DRI	B	-0.04%
	SCHW	B	-0.04%
	ENPH	F	-0.04%
	SRPT	D	-0.04%
	MOH	F	-0.04%
	NBIX	C	-0.04%
	PCOR	B	-0.03%
	REGN	F	-0.03%
	SMAR	A	-0.03%
	SAIA	B	-0.03%
	VKTX	F	-0.03%
	EW	C	-0.03%
	TREX	C	-0.03%
	MS	A	-0.03%
	HAS	D	-0.03%
	CI	F	-0.03%
	TPX	B	-0.03%
	HPQ	B	-0.03%
	PEN	B	-0.03%
	ALGN	D	-0.03%
	MUSA	A	-0.03%
	VMC	B	-0.03%
	SCCO	F	-0.03%
	ZBRA	B	-0.02%
	IQV	D	-0.02%
	OLED	D	-0.02%
	LPX	B	-0.02%
	PATH	C	-0.02%
	GNRC	B	-0.02%
	EXAS	D	-0.02%
	DPZ	C	-0.02%
	OKTA	C	-0.02%
	VVV	F	-0.02%
	MTN	C	-0.02%
	CELH	F	-0.02%
	MRVL	B	-0.02%
	IONS	F	-0.02%
	ELF	C	-0.02%
	WFRD	D	-0.02%
	EL	F	-0.02%
	LSCC	D	-0.02%
	FDS	B	-0.02%
	AVY	D	-0.02%
	GTLB	B	-0.02%
	CFLT	B	-0.02%
	ESTC	C	-0.02%
	GLOB	B	-0.02%
	BSY	D	-0.02%
	DV	C	-0.01%
	BROS	B	-0.01%
	BILL	A	-0.01%
	PFGC	B	-0.01%
	WSC	D	-0.01%
	BLDR	D	-0.01%
	PR	B	-0.01%
	NCNO	B	-0.01%
	CLF	F	-0.01%
	MLM	B	-0.01%
	CACC	D	-0.01%
	NXST	C	-0.01%
	FIVN	C	-0.01%
	LBRDK	C	-0.01%
	SITE	D	-0.01%
	ONTO	D	-0.01%
	EG	C	-0.01%
	TWLO	A	-0.01%
	EXPD	D	-0.01%
	ROK	B	-0.01%
	APLS	D	-0.01%
	UHAL	D	-0.01%
	LECO	B	-0.01%
	TDC	D	-0.01%
	JEF	A	-0.01%
	CE	F	-0.01%
	LW	C	-0.01%
	HSY	F	-0.01%
	GEHC	F	-0.01%
	RPM	A	-0.01%
	HCP	B	-0.01%
	ETSY	D	-0.01%
	JLL	D	-0.01%
	WMS	D	-0.01%
	FIVE	F	-0.01%
	TRIP	F	-0.0%
	PYCR	C	-0.0%
	FTRE	D	-0.0%
	PPC	C	-0.0%
	CC	C	-0.0%
	SEE	C	-0.0%
	NFE	D	-0.0%
	LBRDA	C	-0.0%
	UHAL	D	-0.0%
	CGNX	C	-0.0%
	MKSI	C	-0.0%
	UWMC	D	-0.0%
	MTDR	B	-0.0%
	SPR	D	-0.0%
	UI	A	-0.0%
	SAM	C	-0.0%
	CAR	C	-0.0%
	WH	B	-0.0%
	AAL	B	-0.0%
	WU	D	-0.0%
	WEX	D	-0.0%
	EPAM	C	-0.0%
	BPOP	B	-0.0%
	INCY	C	-0.0%
	SKX	D	-0.0%
	XP	F	-0.0%
	KBR	F	-0.0%
	KMX	B	-0.0%
	YETI	C	-0.0%
	RH	B	-0.0%
	VRSN	F	-0.0%
	RGEN	D	-0.0%
	JBL	B	-0.0%
	TXG	F	-0.0%
	TRU	D	-0.0%
	SN	D	-0.0%
	ROKU	D	-0.0%
	DJT	C	-0.0%
	ALLY	C	-0.0%
	EQT	B	-0.0%
	CIVI	D	-0.0%

FAD: Top Represented Industries & Keywords

Industries: Biotechnology Software - Application Software - Infrastructure Business Services Banks - Regional - US Diversified Industrials Asset Management REIT - Diversified REIT - Retail Specialty Chemicals Capital Markets Diagnostics & Research Building Materials Insurance - Property & Casualty Medical Devices Aerospace & Defense Engineering & Construction Restaurants Leisure REIT - Residential

Keywords: S&P 500 Real Estate Investment Trust Medicine Computing Nasdaq 100 IBD 50 Insurance Banking Bank Biopharmaceutical Aerospace Biotechnology Chemical Telecommunications Electronics Construction Natural Gas Mining Transport Cancer

VONG: Top Represented Industries & Keywords

Industries: Software - Application Software - Infrastructure Biotechnology Business Services Specialty Retail Capital Markets Restaurants Building Materials Asset Management Diagnostics & Research Semiconductor Equipment & Materials Semiconductors Aerospace & Defense Diversified Industrials Internet Content & Information Leisure Credit Services Household & Personal Products Medical Devices Engineering & Construction

Keywords: S&P 500 Nasdaq 100 Computing Cloud Computing IBD 50 Dow Jones Component Medicine Software Insurance Software As A Service Work From Home Cloud Infrastructure Electronics Mobile Devices Semiconductor Natural Gas Operating System Telecommunications Integrated Circuits Payment Systems