FNDA vs. IWS ETF Comparison

Comparison of Schwab Fundamental U.S. Small Company Index ETF (FNDA) to iShares Russell Mid-cap Value ETF (IWS)

FNDA

Schwab Fundamental U.S. Small Company Index ETF

FNDA Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Small Company Index. The index selects, ranks, and weights securities by fundamental measures of company size - adjusted sales, retained operating cash flow, and dividends plus buybacks - rather than market capitalization. Under normal circumstances, the fund will invest at least 90% of its net assets in stocks included in the index. It may invest up to 10% of its net assets in securities not included in the index.

Grade (RS Rating)

Last Trade

$31.86

Average Daily Volume

497,487

Number of Holdings ^*

996

* may have additional holdings in another (foreign) market

IWS

iShares Russell Mid-cap Value ETF

IWS Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities that exhibit value characteristics. 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. It seeks to track the investment results of the Russell Midcap Value Index (the "underlying index"), which measures the performance of the mid-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$138.63

Average Daily Volume

282,879

Number of Holdings ^*

707

* may have additional holdings in another (foreign) market

Performance

Period	FNDA	IWS
30 Days	8.26%	5.17%
60 Days	7.50%	5.63%
90 Days	8.41%	7.53%
12 Months	30.58%	31.74%

211 Overlapping Holdings

Symbol	Grade	Weight in FNDA	Weight in IWS	Overlap
AAL	B	0.05%	0.1%	0.05%
ACHC	F	0.1%	0.04%	0.04%
ADC	B	0.07%	0.08%	0.07%
AGNC	D	0.19%	0.08%	0.08%
AGO	B	0.16%	0.05%	0.05%
AGR	B	0.15%	0.03%	0.03%
ALGM	D	0.0%	0.03%	0.0%
ALK	C	0.05%	0.07%	0.05%
AM	A	0.1%	0.04%	0.04%
AMED	F	0.12%	0.03%	0.03%
AMH	D	0.18%	0.14%	0.14%
AMKR	D	0.17%	0.03%	0.03%
APG	B	0.14%	0.09%	0.09%
ASH	D	0.17%	0.04%	0.04%
ATI	D	0.08%	0.08%	0.08%
AWI	A	0.23%	0.05%	0.05%
AXS	A	0.12%	0.07%	0.07%
AZEK	A	0.08%	0.02%	0.02%
AZTA	D	0.04%	0.02%	0.02%
BFAM	D	0.11%	0.06%	0.06%
BIO	D	0.19%	0.07%	0.07%
BLD	D	0.11%	0.11%	0.11%
BMRN	D	0.08%	0.13%	0.08%
BOKF	B	0.11%	0.03%	0.03%
BRBR	A	0.05%	0.1%	0.05%
BRKR	D	0.09%	0.02%	0.02%
BWXT	B	0.26%	0.1%	0.1%
BYD	C	0.21%	0.06%	0.06%
CACC	D	0.14%	0.01%	0.01%
CBSH	A	0.21%	0.09%	0.09%
CFR	B	0.23%	0.09%	0.09%
CGNX	C	0.14%	0.07%	0.07%
CHE	D	0.11%	0.08%	0.08%
CHH	A	0.09%	0.01%	0.01%
CHRD	D	0.12%	0.09%	0.09%
CIVI	D	0.11%	0.04%	0.04%
CLH	B	0.26%	0.14%	0.14%
CLVT	F	0.02%	0.02%	0.02%
CNA	B	0.07%	0.01%	0.01%
CNM	D	0.12%	0.03%	0.03%
CNXC	F	0.04%	0.02%	0.02%
COIN	C	0.34%	0.11%	0.11%
COKE	C	0.13%	0.08%	0.08%
COLB	A	0.19%	0.07%	0.07%
COLD	D	0.16%	0.07%	0.07%
COLM	B	0.18%	0.03%	0.03%
COTY	F	0.06%	0.03%	0.03%
CR	A	0.22%	0.09%	0.09%
CRL	C	0.11%	0.11%	0.11%
CROX	D	0.14%	0.05%	0.05%
CRUS	D	0.21%	0.06%	0.06%
CSGP	D	0.17%	0.32%	0.17%
CUBE	D	0.18%	0.12%	0.12%
CUZ	B	0.19%	0.05%	0.05%
CWEN	C	0.09%	0.03%	0.03%
CWEN	C	0.09%	0.01%	0.01%
CXT	B	0.07%	0.03%	0.03%
DAY	B	0.02%	0.11%	0.02%
DBX	B	0.13%	0.05%	0.05%
DDS	B	0.11%	0.01%	0.01%
DLB	B	0.13%	0.05%	0.05%
DNB	B	0.13%	0.04%	0.04%
DTM	B	0.23%	0.11%	0.11%
EEFT	B	0.17%	0.05%	0.05%
EGP	F	0.08%	0.09%	0.08%
ELAN	D	0.21%	0.08%	0.08%
ELS	C	0.2%	0.14%	0.14%
ENOV	C	0.11%	0.03%	0.03%
EPR	D	0.13%	0.04%	0.04%
ESAB	B	0.17%	0.08%	0.08%
ESI	A	0.22%	0.07%	0.07%
ETSY	D	0.12%	0.02%	0.02%
EXAS	D	0.04%	0.06%	0.04%
EXEL	B	0.2%	0.02%	0.02%
FCN	D	0.19%	0.08%	0.08%
FDS	B	0.21%	0.13%	0.13%
FHB	A	0.2%	0.04%	0.04%
FICO	B	0.36%	0.09%	0.09%
FIVE	F	0.1%	0.01%	0.01%
FLS	B	0.29%	0.09%	0.09%
FNB	A	0.23%	0.06%	0.06%
FND	C	0.13%	0.08%	0.08%
FR	C	0.11%	0.08%	0.08%
FRT	B	0.23%	0.1%	0.1%
FSLR	F	0.12%	0.22%	0.12%
FTI	A	0.13%	0.13%	0.13%
GFS	C	0.06%	0.04%	0.04%
GLOB	B	0.04%	0.02%	0.02%
GME	C	0.31%	0.11%	0.11%
GMED	A	0.15%	0.1%	0.1%
GO	C	0.08%	0.02%	0.02%
GTES	A	0.16%	0.05%	0.05%
GWRE	A	0.07%	0.1%	0.07%
H	B	0.14%	0.06%	0.06%
HAYW	B	0.05%	0.03%	0.03%
HHH	B	0.07%	0.03%	0.03%
HIW	D	0.21%	0.04%	0.04%
HLI	B	0.19%	0.1%	0.1%
HRB	D	0.13%	0.07%	0.07%
HXL	D	0.17%	0.05%	0.05%
IAC	D	0.12%	0.04%	0.04%
IBKR	A	0.11%	0.21%	0.11%
IDA	A	0.21%	0.07%	0.07%
INCY	C	0.23%	0.13%	0.13%
IPGP	D	0.12%	0.02%	0.02%
IRDM	D	0.08%	0.03%	0.03%
JAZZ	B	0.14%	0.08%	0.08%
JWN	C	0.12%	0.03%	0.03%
KEX	C	0.2%	0.08%	0.08%
KMPR	B	0.28%	0.05%	0.05%
KRC	C	0.22%	0.05%	0.05%
LBRDK	C	0.09%	0.08%	0.08%
LFUS	F	0.17%	0.06%	0.06%
LITE	B	0.25%	0.06%	0.06%
LOPE	B	0.23%	0.03%	0.03%
LSCC	D	0.04%	0.01%	0.01%
LYFT	C	0.07%	0.02%	0.02%
MASI	A	0.16%	0.04%	0.04%
MAT	D	0.19%	0.07%	0.07%
MKTX	D	0.14%	0.11%	0.11%
MP	B	0.03%	0.03%	0.03%
MSA	D	0.09%	0.07%	0.07%
MSM	C	0.12%	0.04%	0.04%
MTCH	D	0.15%	0.09%	0.09%
MTDR	B	0.17%	0.07%	0.07%
NEU	C	0.14%	0.04%	0.04%
NNN	D	0.15%	0.08%	0.08%
NSA	D	0.06%	0.03%	0.03%
NVST	B	0.19%	0.04%	0.04%
NYT	C	0.18%	0.09%	0.09%
OHI	C	0.26%	0.11%	0.11%
OKTA	C	0.02%	0.07%	0.02%
OLED	D	0.07%	0.04%	0.04%
OLLI	D	0.16%	0.06%	0.06%
ONTO	D	0.07%	0.06%	0.06%
OZK	B	0.2%	0.06%	0.06%
PAYC	B	0.1%	0.05%	0.05%
PB	A	0.23%	0.08%	0.08%
PINC	B	0.21%	0.03%	0.03%
PLNT	A	0.13%	0.04%	0.04%
PNFP	B	0.24%	0.1%	0.1%
PPC	C	0.14%	0.02%	0.02%
PR	B	0.07%	0.08%	0.07%
PSN	D	0.11%	0.05%	0.05%
PSTG	D	0.05%	0.02%	0.02%
PTC	A	0.12%	0.1%	0.1%
RBC	A	0.09%	0.1%	0.09%
RCL	A	0.45%	0.39%	0.39%
REXR	F	0.07%	0.1%	0.07%
REYN	D	0.06%	0.02%	0.02%
RGEN	D	0.04%	0.07%	0.04%
RGLD	C	0.13%	0.1%	0.1%
RH	B	0.16%	0.04%	0.04%
RKT	F	0.03%	0.02%	0.02%
RLI	B	0.13%	0.08%	0.08%
RNR	C	0.13%	0.15%	0.13%
ROKU	D	0.09%	0.08%	0.08%
RPRX	D	0.18%	0.11%	0.11%
RRC	B	0.14%	0.09%	0.09%
RYN	D	0.14%	0.05%	0.05%
SAIA	B	0.24%	0.06%	0.06%
SAM	C	0.1%	0.02%	0.02%
SEB	F	0.06%	0.01%	0.01%
SEG	B	0.0%	0.0%	0.0%
SF	B	0.31%	0.13%	0.13%
SIRI	C	0.1%	0.07%	0.07%
SITE	D	0.15%	0.04%	0.04%
SLGN	A	0.14%	0.05%	0.05%
SMG	D	0.19%	0.04%	0.04%
SN	D	0.17%	0.06%	0.06%
SNDR	B	0.14%	0.02%	0.02%
SPB	C	0.23%	0.03%	0.03%
SPR	D	0.17%	0.03%	0.03%
SSD	D	0.17%	0.08%	0.08%
STAG	F	0.11%	0.07%	0.07%
TECH	D	0.11%	0.12%	0.11%
TKO	B	0.03%	0.09%	0.03%
TNL	A	0.15%	0.04%	0.04%
TPG	A	0.14%	0.05%	0.05%
TRIP	F	0.06%	0.02%	0.02%
TTEK	F	0.2%	0.1%	0.1%
TW	A	0.09%	0.1%	0.09%
TWLO	A	0.19%	0.15%	0.15%
TYL	B	0.14%	0.04%	0.04%
UAA	C	0.25%	0.02%	0.02%
UAL	A	0.42%	0.33%	0.33%
UTHR	C	0.32%	0.17%	0.17%
VIRT	B	0.22%	0.03%	0.03%
VLTO	D	0.23%	0.15%	0.15%
VMI	B	0.25%	0.07%	0.07%
VNT	B	0.17%	0.07%	0.07%
VRSN	F	0.12%	0.16%	0.12%
VSTS	C	0.17%	0.02%	0.02%
W	F	0.04%	0.04%	0.04%
WAL	B	0.28%	0.11%	0.11%
WBS	A	0.26%	0.11%	0.11%
WEN	D	0.13%	0.02%	0.02%
WEX	D	0.13%	0.07%	0.07%
WH	B	0.23%	0.07%	0.07%
WMS	D	0.13%	0.06%	0.06%
WOLF	F	0.01%	0.01%	0.01%
WSC	D	0.1%	0.05%	0.05%
WTFC	A	0.23%	0.09%	0.09%
WTM	A	0.17%	0.05%	0.05%
WTRG	B	0.12%	0.11%	0.11%
WWD	B	0.25%	0.11%	0.11%
WYNN	D	0.18%	0.09%	0.09%
YETI	C	0.08%	0.03%	0.03%
Z	A	0.25%	0.13%	0.13%
ZI	D	0.04%	0.03%	0.03%
ZM	B	0.22%	0.24%	0.22%

FNDA Overweight 786 Positions Relative to IWS

Symbol	Grade	Weight
GEO	B	0.42%
SATS	D	0.38%
ANF	C	0.34%
APP	B	0.3%
XPO	B	0.3%
VSCO	B	0.29%
BKU	A	0.29%
AIT	A	0.28%
MAC	B	0.28%
HRI	B	0.28%
CXW	B	0.28%
TXRH	C	0.28%
HCC	B	0.27%
SWX	B	0.26%
SLVM	B	0.25%
FIX	A	0.25%
CRS	A	0.25%
PRG	C	0.25%
GVA	A	0.25%
MHO	D	0.25%
VRT	B	0.24%
SKYW	B	0.24%
DY	D	0.24%
PLXS	B	0.24%
HEI	B	0.24%
RDN	C	0.24%
FDP	B	0.23%
SIG	B	0.23%
BKH	A	0.23%
GHC	C	0.23%
SPOT	B	0.22%
CBT	C	0.22%
CWK	B	0.22%
DEI	B	0.22%
COOP	B	0.22%
AVNT	B	0.22%
MOG.A	B	0.22%
GATX	A	0.22%
CADE	B	0.22%
TTMI	B	0.22%
SEM	B	0.22%
HWC	B	0.21%
TPC	C	0.21%
RXO	C	0.21%
KFY	B	0.21%
GMS	B	0.21%
BHE	B	0.21%
ASB	B	0.21%
PNM	F	0.2%
SBH	C	0.2%
TRN	C	0.2%
SCCO	F	0.2%
VLY	B	0.2%
MC	C	0.2%
CALM	A	0.2%
GBX	A	0.2%
UNIT	B	0.2%
ARCB	C	0.19%
CRC	B	0.19%
JBLU	F	0.19%
STC	B	0.19%
SR	A	0.19%
LCII	C	0.19%
ATGE	B	0.19%
EAT	A	0.19%
DASH	A	0.19%
CCS	D	0.19%
ADTN	A	0.19%
ENS	D	0.19%
ENVA	B	0.19%
HP	B	0.19%
OGS	A	0.19%
ACA	A	0.19%
UBSI	B	0.19%
KNF	A	0.19%
WMK	C	0.18%
HNI	B	0.18%
PATK	D	0.18%
DBRG	F	0.18%
TPL	A	0.18%
TEX	D	0.18%
SBRA	C	0.18%
GIII	D	0.18%
ACIW	B	0.18%
KMT	B	0.18%
URBN	C	0.18%
IMKTA	C	0.18%
BDC	B	0.17%
APLE	B	0.17%
ALE	A	0.17%
NWE	B	0.17%
LAUR	A	0.17%
VVV	F	0.17%
NOW	A	0.17%
PCH	D	0.17%
SUM	B	0.17%
ONB	B	0.17%
PSMT	C	0.17%
UMBF	B	0.17%
CATY	B	0.17%
FUL	F	0.17%
PHIN	A	0.17%
WGO	C	0.17%
NJR	A	0.17%
GBCI	B	0.17%
UNF	B	0.17%
SHOO	D	0.17%
PIPR	B	0.17%
CNX	A	0.17%
PTEN	C	0.16%
EBS	C	0.16%
PLTR	B	0.16%
SKY	A	0.16%
SIGI	C	0.16%
AVA	A	0.16%
WAFD	B	0.16%
VEEV	C	0.16%
APO	B	0.16%
GEF	A	0.16%
ZD	C	0.16%
OUT	A	0.16%
VYX	B	0.16%
LNW	D	0.16%
SFNC	B	0.16%
ENTG	D	0.16%
B	B	0.16%
PFSI	D	0.16%
CBRL	C	0.15%
DNOW	B	0.15%
CHDN	B	0.15%
TCBI	B	0.15%
FWRD	D	0.15%
ROL	B	0.15%
ARES	A	0.15%
NOMD	D	0.15%
CEIX	A	0.15%
MOD	A	0.15%
APAM	B	0.15%
MTX	B	0.15%
LGIH	D	0.15%
SCS	C	0.15%
LZB	B	0.15%
SLG	B	0.15%
UVV	B	0.15%
WD	D	0.15%
PDCO	D	0.15%
KTB	B	0.15%
ESNT	D	0.15%
ICUI	D	0.14%
EXLS	B	0.14%
ENSG	D	0.14%
NMRK	B	0.14%
AMWD	C	0.14%
APOG	B	0.14%
VSTO	A	0.14%
BOH	B	0.14%
CDP	C	0.14%
TDC	D	0.14%
WTS	B	0.14%
KAR	B	0.14%
FULT	A	0.14%
OMI	F	0.14%
MLKN	D	0.14%
MCY	A	0.14%
BXMT	C	0.14%
CNK	B	0.14%
CVLT	B	0.14%
SLAB	D	0.14%
AROC	B	0.14%
YELP	C	0.14%
BCO	D	0.14%
CVCO	A	0.14%
SXT	B	0.14%
HE	C	0.14%
SAH	A	0.14%
ABNB	C	0.13%
SCL	C	0.13%
IOSP	B	0.13%
HELE	C	0.13%
DORM	B	0.13%
ATKR	C	0.13%
SMTC	B	0.13%
THS	D	0.13%
IGT	F	0.13%
UPBD	B	0.13%
IDCC	A	0.13%
CABO	C	0.13%
ABCB	B	0.13%
RYI	C	0.13%
AMR	C	0.13%
ITRI	B	0.13%
PRIM	A	0.12%
HOPE	B	0.12%
DRH	B	0.12%
CHX	C	0.12%
COMP	B	0.12%
ANDE	D	0.12%
HGV	B	0.12%
ECPG	B	0.12%
HEES	B	0.12%
JELD	F	0.12%
JBT	B	0.12%
TROX	D	0.12%
JBGS	D	0.12%
LBRT	D	0.12%
RLJ	C	0.12%
TREX	C	0.12%
LRN	A	0.12%
ITGR	B	0.12%
AIR	B	0.12%
RIG	D	0.12%
BANR	B	0.12%
MWA	B	0.12%
FELE	B	0.12%
WWW	B	0.12%
WDAY	B	0.12%
BGC	C	0.12%
SASR	B	0.11%
EPC	D	0.11%
WSBC	A	0.11%
CPNG	D	0.11%
STRL	B	0.11%
AX	A	0.11%
FN	D	0.11%
HI	C	0.11%
KALU	C	0.11%
XHR	B	0.11%
VIAV	B	0.11%
PPBI	B	0.11%
PLUS	F	0.11%
MPWR	F	0.11%
AEIS	B	0.11%
TRMK	B	0.11%
SKT	B	0.11%
MORN	B	0.11%
HPP	F	0.11%
DIOD	D	0.11%
PECO	A	0.11%
HTH	B	0.11%
MANH	D	0.11%
CBU	B	0.11%
FSS	B	0.11%
HLF	C	0.11%
PBH	A	0.11%
FIBK	A	0.11%
MMS	F	0.11%
CVBF	A	0.11%
FHI	A	0.11%
TNET	D	0.11%
FFBC	A	0.11%
IBOC	A	0.11%
MYRG	B	0.11%
NGVT	B	0.11%
WSFS	A	0.1%
BOOT	D	0.1%
ABR	C	0.1%
NHC	C	0.1%
GFF	A	0.1%
AEO	F	0.1%
HTLF	B	0.1%
ENR	B	0.1%
MGEE	C	0.1%
CORT	B	0.1%
HAE	C	0.1%
UE	C	0.1%
UCB	A	0.1%
SHO	C	0.1%
COMM	D	0.1%
NTCT	C	0.1%
LANC	C	0.1%
DHC	F	0.1%
BKE	B	0.1%
HOMB	A	0.1%
PFS	B	0.1%
AZZ	B	0.1%
KRG	B	0.1%
SSB	B	0.1%
BXC	B	0.1%
ALEX	C	0.09%
CNXN	C	0.09%
CSGS	B	0.09%
PDM	D	0.09%
ESE	B	0.09%
AAON	B	0.09%
FTDR	A	0.09%
CENTA	C	0.09%
PINS	D	0.09%
NHI	D	0.09%
RNG	B	0.09%
RAMP	C	0.09%
ESRT	C	0.09%
AIN	C	0.09%
STRA	C	0.09%
ROCK	C	0.09%
ICFI	F	0.09%
PRDO	B	0.09%
NPO	A	0.09%
IBTX	B	0.09%
FFIN	B	0.09%
MMSI	B	0.09%
MGRC	B	0.09%
PBI	B	0.09%
MGY	A	0.09%
DXCM	D	0.09%
SCSC	B	0.09%
FRME	B	0.09%
RHP	B	0.09%
OSIS	B	0.09%
EIG	B	0.09%
OTTR	C	0.09%
IBP	D	0.09%
INDB	B	0.09%
JACK	D	0.09%
VSH	D	0.09%
VC	D	0.09%
BCPC	B	0.09%
SVC	F	0.09%
ORA	B	0.09%
CNS	B	0.08%
OMCL	C	0.08%
ROIC	A	0.08%
RRR	D	0.08%
DLX	B	0.08%
UCTT	D	0.08%
REVG	B	0.08%
DOLE	D	0.08%
CARG	C	0.08%
GOLF	B	0.08%
MD	B	0.08%
KFRC	D	0.08%
ARI	C	0.08%
SAFT	C	0.08%
CSWI	A	0.08%
HL	D	0.08%
WNC	C	0.08%
OII	B	0.08%
TTD	B	0.08%
KW	B	0.08%
KLG	C	0.08%
ALGT	B	0.08%
CCOI	B	0.08%
PTON	B	0.08%
PMT	D	0.08%
KOS	F	0.08%
WOR	F	0.08%
SYNA	C	0.08%
LXP	D	0.08%
NWBI	B	0.08%
NWN	A	0.08%
LILAK	D	0.08%
AKR	B	0.08%
TALO	C	0.08%
CBZ	B	0.08%
PRK	B	0.08%
POWI	D	0.08%
TOWN	B	0.08%
OPCH	D	0.08%
KAI	A	0.08%
ALIT	C	0.08%
PJT	A	0.07%
CPK	A	0.07%
KOP	C	0.07%
BMI	B	0.07%
CUBI	C	0.07%
QLYS	C	0.07%
SMCI	F	0.07%
SABR	C	0.07%
HLX	B	0.07%
EXPO	D	0.07%
BSIG	A	0.07%
NMIH	D	0.07%
FCF	A	0.07%
MRTN	C	0.07%
BRC	D	0.07%
EBC	B	0.07%
HQY	B	0.07%
EYE	C	0.07%
AUB	B	0.07%
BLMN	F	0.07%
CRK	B	0.07%
ROG	D	0.07%
IART	C	0.07%
IRT	A	0.07%
OPEN	D	0.07%
SXI	B	0.07%
PTVE	B	0.07%
NX	C	0.07%
JJSF	B	0.07%
CASH	A	0.07%
ZWS	B	0.07%
NSP	D	0.07%
BDN	C	0.07%
PLAB	C	0.07%
MRCY	B	0.07%
THRM	D	0.07%
HMN	B	0.07%
PEB	D	0.07%
GNL	F	0.07%
AMN	F	0.07%
CDE	D	0.07%
CAKE	C	0.07%
HWKN	B	0.07%
TILE	B	0.07%
NBTB	B	0.07%
ALG	B	0.07%
KN	B	0.07%
LADR	B	0.07%
CWT	D	0.07%
ROAD	A	0.07%
MTRN	C	0.07%
AXL	C	0.06%
CTS	C	0.06%
SMPL	B	0.06%
FBP	B	0.06%
EPAC	B	0.06%
GPRE	F	0.06%
AGX	B	0.06%
CVI	F	0.06%
ENV	B	0.06%
CWST	A	0.06%
PRGS	A	0.06%
HCSG	C	0.06%
BNL	D	0.06%
GTLS	B	0.06%
GES	F	0.06%
CAL	D	0.06%
TOST	B	0.06%
NTGR	B	0.06%
ECVT	C	0.06%
WHD	B	0.06%
MMI	B	0.06%
EMBC	C	0.06%
TDOC	C	0.06%
BLKB	B	0.06%
GCI	D	0.06%
KTOS	B	0.06%
OXM	D	0.06%
TNC	D	0.06%
TRS	B	0.06%
MEDP	D	0.06%
BSY	D	0.06%
BUSE	B	0.06%
WDFC	B	0.06%
FORM	D	0.06%
OEC	C	0.06%
EFSC	B	0.06%
HURN	B	0.06%
KWR	C	0.06%
AWR	B	0.06%
SONO	C	0.06%
NNI	D	0.06%
DFIN	D	0.06%
PGRE	F	0.06%
ATSG	B	0.06%
VBTX	B	0.06%
ELME	D	0.06%
LGF.A	C	0.06%
CWH	B	0.06%
PLAY	D	0.06%
SCHL	D	0.06%
KELYA	F	0.06%
HALO	F	0.06%
BKD	D	0.06%
STBA	B	0.06%
ERIE	D	0.06%
EAF	C	0.06%
NBIX	C	0.06%
EXPI	C	0.06%
AAT	B	0.06%
SJW	D	0.05%
UIS	B	0.05%
LIVN	F	0.05%
ACCO	C	0.05%
VRTS	B	0.05%
CNDT	C	0.05%
TRNO	F	0.05%
AY	B	0.05%
NTB	B	0.05%
CODI	B	0.05%
CHCO	B	0.05%
HTLD	B	0.05%
KLIC	B	0.05%
VRRM	D	0.05%
NOVT	D	0.05%
VSAT	F	0.05%
MRC	B	0.05%
VRE	B	0.05%
ICHR	C	0.05%
FOXF	F	0.05%
EPRT	B	0.05%
DEA	D	0.05%
SXC	A	0.05%
PODD	C	0.05%
SNBR	F	0.05%
FBNC	A	0.05%
CCO	C	0.05%
AMRK	F	0.05%
CHEF	A	0.05%
CMCO	B	0.05%
ADUS	D	0.05%
SUPN	C	0.05%
MELI	D	0.05%
BV	B	0.05%
ESGR	B	0.05%
MODG	F	0.05%
CNMD	C	0.05%
AMCX	C	0.05%
SENEA	B	0.04%
ASIX	A	0.04%
OFG	B	0.04%
ALRM	C	0.04%
IPAR	B	0.04%
CARS	B	0.04%
NVEE	F	0.04%
PRA	C	0.04%
CNSL	C	0.04%
SWBI	C	0.04%
INSW	F	0.04%
ENPH	F	0.04%
FBRT	C	0.04%
PUMP	B	0.04%
RDNT	B	0.04%
IHRT	C	0.04%
CPS	C	0.04%
WFRD	D	0.04%
SFL	D	0.04%
GLNG	C	0.04%
RDUS	C	0.04%
ZUMZ	C	0.04%
GCO	B	0.04%
CSTM	F	0.04%
DHT	F	0.04%
INVA	D	0.04%
GTN	F	0.04%
RES	D	0.04%
SFBS	B	0.04%
AGRO	D	0.04%
IVT	B	0.04%
PEN	B	0.04%
CMPR	D	0.04%
VTLE	C	0.04%
DXPE	B	0.04%
PARR	D	0.04%
SNAP	C	0.04%
PRAA	C	0.04%
HLIO	B	0.04%
WING	D	0.04%
LNN	B	0.04%
VCTR	B	0.04%
HAIN	C	0.04%
NBR	C	0.04%
NOG	A	0.04%
HZO	D	0.04%
JBSS	D	0.04%
BZH	B	0.04%
MATX	C	0.04%
NEOG	F	0.04%
LKFN	B	0.04%
CRGY	B	0.04%
LTC	B	0.04%
RNST	B	0.04%
GRBK	D	0.04%
FCPT	C	0.04%
COHU	C	0.04%
CMRE	C	0.03%
ASTH	D	0.03%
KNSL	B	0.03%
DAC	B	0.03%
USNA	C	0.03%
XP	F	0.03%
BBSI	B	0.03%
WRLD	C	0.03%
CRAI	B	0.03%
MYGN	F	0.03%
RWT	D	0.03%
PAGS	F	0.03%
CNNE	B	0.03%
ZIMV	D	0.03%
THRY	F	0.03%
GDEN	B	0.03%
VIR	D	0.03%
EVTC	B	0.03%
CVGW	D	0.03%
HMST	D	0.03%
HSII	B	0.03%
SBCF	A	0.03%
AGM	C	0.03%
PRLB	A	0.03%
RGR	F	0.03%
ILPT	D	0.03%
UVE	B	0.03%
PEGA	A	0.03%
CPF	A	0.03%
SBLK	F	0.03%
MXL	C	0.03%
RMBS	C	0.03%
DT	C	0.03%
PRVA	B	0.03%
CTRE	D	0.03%
GLDD	B	0.03%
SSTK	F	0.03%
RC	D	0.03%
STNG	F	0.03%
AMC	C	0.03%
CFFN	B	0.03%
CBL	A	0.03%
VAL	D	0.03%
WTTR	B	0.03%
LEVI	F	0.03%
VRNT	C	0.03%
MATV	D	0.03%
CMTG	F	0.03%
TSE	F	0.03%
SCVL	F	0.03%
SMP	B	0.03%
SGRY	F	0.03%
USM	B	0.03%
NUS	D	0.03%
SPSC	C	0.03%
STEP	B	0.03%
MNRO	D	0.03%
TRTX	B	0.03%
ACLS	F	0.03%
SNOW	C	0.03%
LYV	A	0.03%
NVRI	F	0.03%
EGBN	B	0.03%
ASTE	B	0.03%
VSEC	C	0.03%
PZZA	D	0.03%
BGS	F	0.03%
LPG	F	0.03%
PLCE	C	0.02%
GTY	B	0.02%
ARKO	C	0.02%
CTRN	D	0.02%
CLDT	B	0.02%
NPK	B	0.02%
HASI	D	0.02%
BRY	F	0.02%
FIZZ	C	0.02%
CLOV	D	0.02%
AMBC	C	0.02%
ALTO	F	0.02%
IRWD	F	0.02%
BRSP	B	0.02%
RYAM	C	0.02%
KRNY	B	0.02%
CMP	C	0.02%
CCSI	C	0.02%
ARCO	F	0.02%
DHIL	A	0.02%
RUN	F	0.02%
DBI	F	0.02%
TEN	F	0.02%
AVNS	F	0.02%
OPK	C	0.02%
CSR	B	0.02%
GNK	D	0.02%
SHEN	F	0.02%
CSV	B	0.02%
WOW	B	0.02%
KREF	D	0.02%
SRCE	B	0.02%
EDR	A	0.02%
ALKS	B	0.02%
CLB	B	0.02%
WABC	B	0.02%
HVT	D	0.02%
AVO	C	0.02%
HFWA	B	0.02%
MTW	C	0.02%
EBF	F	0.02%
MERC	F	0.02%
XPRO	F	0.02%
CNOB	B	0.02%
WASH	C	0.02%
CALX	D	0.02%
ZEUS	C	0.02%
BANF	B	0.02%
TMP	B	0.02%
SHYF	C	0.02%
TCBK	B	0.02%
UFCS	B	0.02%
UTL	B	0.02%
HAFC	A	0.02%
MATW	C	0.02%
BJRI	B	0.02%
STNE	F	0.02%
WMG	C	0.02%
PFC	A	0.02%
EVRI	A	0.02%
DCO	C	0.02%
AHCO	F	0.02%
TBI	F	0.02%
BRKL	B	0.02%
CLW	F	0.02%
WOOF	D	0.02%
MTUS	C	0.02%
GDOT	D	0.02%
SBSI	B	0.02%
OCFC	B	0.02%
SFIX	B	0.02%
ETD	C	0.02%
VTOL	B	0.01%
IIIN	C	0.01%
RILY	F	0.01%
NBHC	B	0.01%
SNEX	B	0.01%
LESL	C	0.01%
FBK	B	0.01%
LGND	B	0.01%
GPRO	F	0.01%
MBUU	C	0.01%
BHLB	B	0.01%
PKST	D	0.01%
KE	C	0.01%
HLNE	B	0.01%
AVD	D	0.01%
JRVR	F	0.01%
PRM	C	0.01%
GSL	F	0.01%
AMSF	B	0.01%
SSP	F	0.01%
SRI	F	0.01%
MODV	C	0.01%
ATNI	F	0.01%
NU	C	0.01%
CRMT	C	0.01%
BMBL	C	0.01%
PETS	C	0.01%
CENT	C	0.01%
MED	F	0.01%
CCRN	F	0.01%
FLGT	F	0.01%
MOV	C	0.01%
GPMT	C	0.01%
TPIC	F	0.01%
OPI	F	0.01%
IRBT	F	0.01%
MYE	F	0.01%
DENN	D	0.01%
SSYS	C	0.01%
AGL	F	0.01%
DIN	C	0.01%
VREX	C	0.01%
TITN	C	0.01%
RGP	F	0.01%
USPH	B	0.01%
OIS	C	0.01%
FLWS	F	0.01%
PLOW	D	0.01%
MEI	D	0.01%
CHGG	D	0.0%
EVH	F	0.0%
PCRX	C	0.0%
MGPI	F	0.0%
GIC	D	0.0%
TWI	F	0.0%
HY	D	0.0%
WTI	F	0.0%
GSM	D	0.0%
CRNC	C	0.0%
AMPH	D	0.0%
SPWH	F	0.0%
DNUT	D	0.0%
HAYN	C	0.0%
ONEW	D	0.0%
THR	B	0.0%
INMD	C	0.0%
TTEC	F	0.0%
MSBI	B	0.0%
AMRC	F	0.0%
CMTL	F	0.0%
IIPR	D	0.0%
HOV	D	0.0%
REX	D	0.0%
SEDG	F	0.0%
PEBO	A	0.0%
LXU	B	0.0%
TBBK	B	0.0%
AOSL	C	0.0%
NR	B	0.0%
CRVL	A	0.0%
NIC	B	0.0%
PFBC	B	0.0%

FNDA Underweight 496 Positions Relative to IWS

Symbol	Grade	Weight
WMB	A	-0.76%
OKE	A	-0.7%
AFL	B	-0.68%
AJG	B	-0.65%
BK	A	-0.64%
DLR	B	-0.64%
KMI	A	-0.58%
MSTR	C	-0.55%
O	D	-0.54%
CMI	A	-0.54%
FIS	C	-0.54%
DHI	D	-0.53%
LHX	C	-0.51%
CCI	D	-0.5%
KVUE	A	-0.5%
PRU	A	-0.5%
PEG	A	-0.49%
AME	A	-0.49%
PCG	A	-0.49%
SPG	B	-0.48%
ALL	A	-0.48%
DFS	B	-0.48%
HWM	A	-0.47%
BKR	B	-0.47%
EA	A	-0.47%
URI	B	-0.46%
DAL	C	-0.45%
IR	B	-0.45%
CBRE	B	-0.44%
OTIS	C	-0.44%
LEN	D	-0.44%
CTVA	C	-0.43%
XEL	A	-0.43%
EXC	C	-0.43%
FERG	B	-0.42%
CTSH	B	-0.42%
KR	B	-0.42%
A	D	-0.41%
CHTR	C	-0.4%
ACGL	D	-0.4%
NUE	C	-0.39%
GIS	D	-0.39%
ROST	C	-0.39%
GLW	B	-0.39%
MTB	A	-0.39%
WAB	B	-0.38%
DD	D	-0.38%
EXR	D	-0.38%
HIG	B	-0.38%
HUM	C	-0.37%
FANG	D	-0.37%
MCHP	D	-0.37%
ED	D	-0.37%
GEHC	F	-0.37%
MLM	B	-0.37%
GRMN	B	-0.36%
NDAQ	A	-0.36%
AVB	B	-0.36%
PWR	A	-0.36%
VICI	C	-0.36%
ETR	B	-0.35%
EIX	B	-0.35%
WTW	B	-0.35%
FITB	A	-0.35%
TTWO	A	-0.34%
IQV	D	-0.34%
DOW	F	-0.34%
WEC	A	-0.34%
EBAY	D	-0.34%
GPN	B	-0.33%
HLT	A	-0.33%
ROK	B	-0.33%
CNC	D	-0.33%
RJF	A	-0.33%
PPG	F	-0.32%
STT	A	-0.32%
ANSS	B	-0.32%
XYL	D	-0.32%
PAYX	C	-0.32%
ON	D	-0.31%
EQR	B	-0.31%
SQ	B	-0.3%
HPQ	B	-0.3%
HPE	B	-0.3%
VMC	B	-0.3%
DOV	A	-0.3%
TROW	B	-0.29%
KEYS	A	-0.29%
HAL	C	-0.29%
AWK	D	-0.29%
FTV	C	-0.29%
FCNCA	A	-0.29%
PHM	D	-0.29%
CHD	B	-0.29%
SW	A	-0.29%
ADM	D	-0.28%
HBAN	A	-0.28%
VTR	C	-0.28%
SYF	B	-0.28%
NVR	D	-0.28%
CCL	B	-0.27%
DVN	F	-0.27%
RF	A	-0.27%
AEE	A	-0.27%
EFX	F	-0.27%
RMD	C	-0.27%
DTE	C	-0.27%
MTD	D	-0.27%
PPL	B	-0.27%
YUM	B	-0.26%
CINF	A	-0.26%
BIIB	F	-0.26%
HUBB	B	-0.26%
EQT	B	-0.26%
SBAC	D	-0.26%
LNG	B	-0.26%
FE	C	-0.26%
WBD	C	-0.25%
WY	D	-0.25%
ZBH	C	-0.25%
HSY	F	-0.24%
HOOD	B	-0.24%
NTRS	A	-0.24%
EXE	B	-0.24%
ILMN	D	-0.24%
LYB	F	-0.24%
LDOS	C	-0.24%
TDY	B	-0.24%
STE	F	-0.24%
ATO	A	-0.24%
ES	D	-0.24%
IFF	D	-0.24%
WDC	D	-0.23%
INVH	D	-0.23%
STLD	B	-0.23%
PKG	A	-0.23%
CBOE	B	-0.23%
K	A	-0.23%
CFG	B	-0.23%
LH	C	-0.22%
PFG	D	-0.22%
BBY	D	-0.22%
IP	B	-0.22%
CMS	C	-0.22%
MKC	D	-0.21%
OMC	C	-0.21%
BALL	D	-0.21%
CTRA	B	-0.21%
BLDR	D	-0.21%
ESS	B	-0.21%
MSCI	C	-0.21%
COO	D	-0.21%
LUV	C	-0.21%
CNP	B	-0.21%
RS	B	-0.2%
KEY	B	-0.2%
DGX	A	-0.2%
WRB	A	-0.2%
HOLX	D	-0.2%
WSO	A	-0.2%
TSN	B	-0.2%
ARE	D	-0.2%
MAA	B	-0.2%
SNA	A	-0.2%
CVNA	B	-0.19%
GPC	D	-0.19%
TRMB	B	-0.19%
MAS	D	-0.19%
IEX	B	-0.19%
J	F	-0.19%
TRU	D	-0.19%
PNR	A	-0.19%
CSL	C	-0.19%
CF	B	-0.18%
FNF	B	-0.18%
MRO	B	-0.18%
GEN	B	-0.18%
BAX	D	-0.18%
KIM	A	-0.18%
NI	A	-0.18%
DG	F	-0.18%
OC	A	-0.18%
MKL	A	-0.18%
L	A	-0.17%
VTRS	A	-0.17%
RGA	A	-0.17%
SUI	D	-0.17%
ZBRA	B	-0.17%
TOL	B	-0.17%
LNT	A	-0.17%
SSNC	B	-0.17%
TXT	D	-0.17%
SYY	B	-0.16%
EXPD	D	-0.16%
EVRG	A	-0.16%
EWBC	A	-0.16%
IRM	D	-0.16%
HES	B	-0.16%
APTV	D	-0.16%
NDSN	B	-0.16%
UDR	B	-0.16%
ACM	A	-0.16%
DOC	D	-0.16%
BRO	B	-0.16%
USFD	A	-0.16%
THC	D	-0.16%
AMCR	D	-0.16%
JBHT	C	-0.16%
GGG	B	-0.16%
RPM	A	-0.15%
NTAP	C	-0.15%
EG	C	-0.15%
SWKS	F	-0.15%
RVTY	F	-0.15%
REG	B	-0.15%
UNM	A	-0.15%
CW	B	-0.15%
FFIV	B	-0.15%
EME	C	-0.15%
AVTR	F	-0.15%
BXP	D	-0.14%
CPT	B	-0.14%
ITT	A	-0.14%
COHR	B	-0.14%
JKHY	D	-0.14%
CAG	D	-0.14%
BG	F	-0.14%
CHRW	C	-0.14%
GLPI	C	-0.14%
DLTR	F	-0.14%
AFRM	B	-0.14%
JBL	B	-0.14%
AKAM	D	-0.14%
SWK	D	-0.14%
TPR	B	-0.14%
AIZ	A	-0.13%
KMX	B	-0.13%
BJ	A	-0.13%
OVV	B	-0.13%
UHS	D	-0.13%
CAH	B	-0.13%
EMN	D	-0.13%
CDW	F	-0.13%
SOFI	A	-0.13%
JNPR	F	-0.13%
SCI	B	-0.13%
HST	C	-0.13%
NVT	B	-0.13%
NTNX	A	-0.13%
WPC	D	-0.13%
ALB	C	-0.13%
EPAM	C	-0.13%
ALLE	D	-0.13%
CASY	A	-0.13%
FOXA	B	-0.12%
CCK	C	-0.12%
CTLT	B	-0.12%
EVR	B	-0.12%
FWONK	B	-0.12%
NWSA	B	-0.12%
TAP	C	-0.12%
PFGC	B	-0.12%
ATR	B	-0.12%
AA	B	-0.12%
SJM	D	-0.12%
CG	A	-0.12%
FHN	A	-0.12%
RRX	B	-0.12%
NRG	B	-0.12%
DOX	D	-0.11%
CIEN	B	-0.11%
GL	B	-0.11%
DPZ	C	-0.11%
EHC	B	-0.11%
ARMK	B	-0.11%
AVY	D	-0.11%
AES	F	-0.11%
AFG	A	-0.11%
NLY	C	-0.11%
LKQ	D	-0.11%
AYI	B	-0.11%
DKS	C	-0.11%
LAD	A	-0.11%
IPG	D	-0.11%
ALSN	B	-0.11%
PRI	A	-0.11%
CACI	D	-0.11%
PNW	B	-0.11%
ZION	B	-0.1%
ALLY	C	-0.1%
BRX	A	-0.1%
AOS	F	-0.1%
MGM	D	-0.1%
SNX	C	-0.1%
KNX	B	-0.1%
AR	B	-0.1%
HSIC	B	-0.1%
WCC	B	-0.1%
AXTA	A	-0.1%
TFX	F	-0.1%
WST	C	-0.1%
FBIN	D	-0.1%
DCI	B	-0.1%
CMA	A	-0.1%
INGR	B	-0.1%
JEF	A	-0.1%
ORI	A	-0.1%
SOLV	C	-0.1%
DRI	B	-0.1%
CNH	C	-0.1%
BWA	D	-0.09%
G	B	-0.09%
ACI	C	-0.09%
SEIC	B	-0.09%
CZR	F	-0.09%
SNV	B	-0.09%
X	C	-0.09%
APA	D	-0.09%
LECO	B	-0.09%
CPB	D	-0.09%
VOYA	B	-0.09%
LAMR	D	-0.09%
WAT	B	-0.09%
RIVN	F	-0.09%
RL	B	-0.09%
GPK	C	-0.09%
TTC	D	-0.09%
MOS	F	-0.09%
HRL	D	-0.09%
MTZ	B	-0.09%
JLL	D	-0.09%
FYBR	D	-0.09%
OGE	B	-0.09%
DAR	C	-0.08%
MTSI	B	-0.08%
GXO	B	-0.08%
R	B	-0.08%
ALGN	D	-0.08%
GNTX	C	-0.08%
OSK	B	-0.08%
VFC	C	-0.08%
BBWI	D	-0.08%
VNO	B	-0.08%
KBR	F	-0.08%
MIDD	C	-0.08%
CART	C	-0.08%
SKX	D	-0.08%
FAST	B	-0.08%
MHK	D	-0.08%
LW	C	-0.08%
RHI	B	-0.08%
HII	D	-0.08%
BERY	B	-0.08%
LNC	B	-0.07%
WHR	B	-0.07%
CE	F	-0.07%
S	B	-0.07%
WBA	F	-0.07%
STWD	C	-0.07%
ARW	D	-0.07%
BPOP	B	-0.07%
BEN	C	-0.07%
QRVO	F	-0.07%
OMF	A	-0.07%
SAIC	F	-0.07%
NOV	C	-0.07%
MOH	F	-0.07%
KD	B	-0.07%
PARA	C	-0.07%
MTG	C	-0.07%
IVZ	B	-0.07%
LSTR	D	-0.07%
BILL	A	-0.07%
FAF	A	-0.07%
MKSI	C	-0.07%
HR	C	-0.07%
AZPN	A	-0.07%
DINO	D	-0.07%
GWW	B	-0.07%
WSM	B	-0.07%
FMC	D	-0.07%
AMP	A	-0.06%
UGI	A	-0.06%
AL	B	-0.06%
POST	C	-0.06%
SLM	A	-0.06%
CCCS	B	-0.06%
LEA	D	-0.06%
BC	C	-0.06%
GNRC	B	-0.06%
RITM	C	-0.06%
THO	B	-0.06%
NFG	A	-0.06%
DOCS	C	-0.06%
FOX	A	-0.06%
PVH	C	-0.06%
JHG	A	-0.06%
THG	A	-0.06%
AMG	B	-0.06%
AGCO	D	-0.06%
AN	C	-0.05%
WLK	D	-0.05%
M	D	-0.05%
GAP	C	-0.05%
ST	F	-0.05%
AVT	C	-0.05%
ROIV	C	-0.05%
FRPT	B	-0.05%
OLN	D	-0.05%
TKR	D	-0.05%
SON	D	-0.05%
HUN	F	-0.04%
ZG	A	-0.04%
ALNY	D	-0.04%
UHAL	D	-0.04%
PII	D	-0.04%
CLF	F	-0.04%
NWS	B	-0.04%
NWL	B	-0.04%
VNOM	A	-0.04%
PRGO	B	-0.04%
XRAY	F	-0.04%
MDU	D	-0.04%
MSGS	A	-0.04%
DXC	B	-0.04%
OGN	D	-0.04%
LINE	F	-0.04%
HOG	D	-0.04%
FLO	D	-0.04%
ULTA	F	-0.03%
BR	A	-0.03%
CPRI	F	-0.03%
EXP	A	-0.03%
MPW	F	-0.03%
CC	C	-0.03%
WU	D	-0.03%
SEE	C	-0.03%
ECG	C	-0.03%
U	C	-0.03%
MAN	D	-0.03%
PAG	B	-0.03%
PK	B	-0.03%
SNRE	D	-0.03%
LLYVK	A	-0.03%
BROS	B	-0.03%
NXST	C	-0.03%
AMTM	D	-0.03%
BHF	B	-0.03%
VAC	B	-0.03%
PENN	C	-0.03%
TER	D	-0.02%
LEG	F	-0.02%
FTRE	D	-0.02%
UA	C	-0.02%
QS	F	-0.02%
BIRK	D	-0.02%
LEN	D	-0.02%
ALAB	B	-0.02%
CRI	D	-0.02%
LCID	F	-0.02%
LBTYK	A	-0.02%
INFA	D	-0.02%
KSS	F	-0.02%
QDEL	F	-0.02%
LBTYA	B	-0.02%
SHC	F	-0.02%
LPX	B	-0.02%
ADT	C	-0.02%
AAP	C	-0.02%
RCM	F	-0.02%
TXG	F	-0.01%
PLTK	B	-0.01%
DJT	C	-0.01%
PATH	C	-0.01%
TFSL	A	-0.01%
UI	A	-0.01%
HCP	B	-0.01%
MTN	C	-0.01%
CAR	C	-0.01%
LBRDA	C	-0.01%
HAS	D	-0.01%
FWONA	B	-0.01%
PYCR	C	-0.01%
AS	B	-0.01%
CERT	F	-0.01%
DV	C	-0.01%
LLYVA	A	-0.01%
NCNO	B	-0.01%
LOAR	A	-0.0%
PARAA	B	-0.0%
UWMC	D	-0.0%
NFE	D	-0.0%
UHAL	D	-0.0%
GRAL	C	-0.0%
LAZ	B	-0.0%
IONS	F	-0.0%