FNDB vs. IWS ETF Comparison

Comparison of Schwab Fundamental U.S. Broad Market Index ETF (FNDB) to iShares Russell Mid-cap Value ETF (IWS)

FNDB

Schwab Fundamental U.S. Broad Market Index ETF

FNDB Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Index. To pursue its goal, the fund generally invests in stocks that are included in the Russell Fundamental U.S. 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

$69.95

Average Daily Volume

30,478

Number of Holdings ^*

1665

* 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

$132.00

Average Daily Volume

302,715

Number of Holdings ^*

705

* may have additional holdings in another (foreign) market

Performance

Period	FNDB	IWS
30 Days	1.44%	2.33%
60 Days	2.76%	4.36%
90 Days	5.64%	7.82%
12 Months	23.57%	22.59%

634 Overlapping Holdings

Symbol	Grade	Weight in FNDB	Weight in IWS	Overlap
A	C	0.06%	0.46%	0.06%
AA	D	0.04%	0.09%	0.04%
AAL	D	0.01%	0.07%	0.01%
AAP	F	0.02%	0.03%	0.02%
ACGL	B	0.04%	0.46%	0.04%
ACHC	C	0.01%	0.08%	0.01%
ACI	F	0.02%	0.09%	0.02%
ACM	B	0.04%	0.15%	0.04%
ADC	C	0.01%	0.09%	0.01%
ADM	D	0.21%	0.34%	0.21%
AEE	B	0.06%	0.26%	0.06%
AES	C	0.06%	0.15%	0.06%
AFG	B	0.04%	0.11%	0.04%
AFL	B	0.21%	0.71%	0.21%
AGCO	D	0.03%	0.07%	0.03%
AGNC	A	0.02%	0.08%	0.02%
AGO	C	0.02%	0.05%	0.02%
AGR	B	0.01%	0.03%	0.01%
AIZ	B	0.03%	0.12%	0.03%
AJG	C	0.05%	0.69%	0.05%
AKAM	D	0.03%	0.17%	0.03%
AL	D	0.02%	0.05%	0.02%
ALB	F	0.02%	0.12%	0.02%
ALGM	F	0.0%	0.02%	0.0%
ALGN	D	0.02%	0.09%	0.02%
ALK	C	0.01%	0.06%	0.01%
ALL	A	0.27%	0.48%	0.27%
ALLE	B	0.02%	0.14%	0.02%
ALLY	F	0.09%	0.09%	0.09%
ALSN	B	0.04%	0.09%	0.04%
AM	B	0.01%	0.04%	0.01%
AMCR	C	0.02%	0.18%	0.02%
AME	C	0.04%	0.44%	0.04%
AMED	C	0.01%	0.04%	0.01%
AMG	C	0.03%	0.06%	0.03%
AMH	C	0.01%	0.16%	0.01%
AMKR	F	0.01%	0.04%	0.01%
AMP	B	0.11%	0.04%	0.04%
AN	D	0.05%	0.05%	0.05%
ANSS	F	0.02%	0.32%	0.02%
AOS	C	0.02%	0.11%	0.02%
APA	F	0.03%	0.1%	0.03%
APG	D	0.01%	0.09%	0.01%
APTV	D	0.04%	0.21%	0.04%
AR	D	0.02%	0.09%	0.02%
ARE	B	0.03%	0.25%	0.03%
ARMK	B	0.03%	0.11%	0.03%
ARW	C	0.08%	0.08%	0.08%
ASH	D	0.01%	0.05%	0.01%
ATI	C	0.01%	0.09%	0.01%
ATO	B	0.04%	0.24%	0.04%
ATR	B	0.02%	0.12%	0.02%
AVB	B	0.05%	0.38%	0.05%
AVT	D	0.07%	0.05%	0.05%
AVTR	B	0.03%	0.21%	0.03%
AVY	D	0.04%	0.13%	0.04%
AWI	B	0.02%	0.04%	0.02%
AWK	A	0.04%	0.33%	0.04%
AXS	B	0.01%	0.07%	0.01%
AXTA	C	0.02%	0.09%	0.02%
AYI	B	0.03%	0.09%	0.03%
AZEK	C	0.01%	0.02%	0.01%
AZTA	D	0.0%	0.03%	0.0%
BALL	C	0.06%	0.24%	0.06%
BAX	C	0.08%	0.23%	0.08%
BBWI	F	0.02%	0.07%	0.02%
BBY	B	0.17%	0.24%	0.17%
BC	C	0.02%	0.06%	0.02%
BEN	F	0.04%	0.07%	0.04%
BERY	B	0.04%	0.09%	0.04%
BFAM	C	0.01%	0.08%	0.01%
BG	D	0.1%	0.16%	0.1%
BIIB	F	0.1%	0.33%	0.1%
BIO	C	0.01%	0.07%	0.01%
BJ	D	0.02%	0.12%	0.02%
BK	A	0.24%	0.59%	0.24%
BKR	D	0.13%	0.38%	0.13%
BLD	D	0.02%	0.13%	0.02%
BLDR	C	0.04%	0.23%	0.04%
BMRN	F	0.01%	0.18%	0.01%
BOKF	B	0.01%	0.03%	0.01%
BPOP	C	0.03%	0.07%	0.03%
BR	D	0.03%	0.03%	0.03%
BRBR	B	0.0%	0.09%	0.0%
BRKR	D	0.01%	0.03%	0.01%
BRO	C	0.02%	0.16%	0.02%
BRX	B	0.02%	0.1%	0.02%
BWA	D	0.04%	0.08%	0.04%
BWXT	D	0.02%	0.08%	0.02%
BXP	B	0.05%	0.14%	0.05%
BYD	C	0.01%	0.05%	0.01%
CACC	D	0.01%	0.01%	0.01%
CACC	D	0.01%	0.01%	0.01%
CACI	B	0.03%	0.12%	0.03%
CAG	B	0.06%	0.18%	0.06%
CAH	C	0.07%	0.13%	0.07%
CAR	F	0.02%	0.01%	0.01%
CASY	D	0.05%	0.13%	0.05%
CBOE	C	0.02%	0.25%	0.02%
CBRE	A	0.12%	0.42%	0.12%
CBSH	C	0.01%	0.09%	0.01%
CC	F	0.02%	0.03%	0.02%
CCI	B	0.1%	0.59%	0.1%
CCK	A	0.04%	0.12%	0.04%
CCL	C	0.05%	0.2%	0.05%
CDW	D	0.05%	0.17%	0.05%
CE	D	0.05%	0.12%	0.05%
CF	B	0.06%	0.17%	0.06%
CFG	D	0.09%	0.21%	0.09%
CFR	C	0.01%	0.07%	0.01%
CG	C	0.02%	0.1%	0.02%
CGNX	D	0.01%	0.07%	0.01%
CHD	C	0.04%	0.29%	0.04%
CHE	C	0.02%	0.09%	0.02%
CHH	C	0.0%	0.01%	0.0%
CHK	D	0.02%	0.11%	0.02%
CHRD	F	0.01%	0.09%	0.01%
CHRW	B	0.07%	0.13%	0.07%
CHTR	D	0.3%	0.37%	0.3%
CIEN	C	0.02%	0.09%	0.02%
CINF	B	0.07%	0.24%	0.07%
CIVI	F	0.01%	0.04%	0.01%
CLF	F	0.02%	0.04%	0.02%
CLH	B	0.02%	0.15%	0.02%
CLVT	D	0.0%	0.03%	0.0%
CMA	B	0.06%	0.09%	0.06%
CMI	C	0.16%	0.47%	0.16%
CMS	A	0.06%	0.24%	0.06%
CNA	C	0.01%	0.01%	0.01%
CNC	C	0.23%	0.46%	0.23%
CNH	C	0.03%	0.1%	0.03%
CNM	F	0.01%	0.03%	0.01%
CNP	C	0.05%	0.2%	0.05%
CNXC	D	0.01%	0.04%	0.01%
COHR	B	0.01%	0.12%	0.01%
COIN	F	0.02%	0.06%	0.02%
COKE	C	0.01%	0.09%	0.01%
COLB	B	0.01%	0.06%	0.01%
COLD	D	0.01%	0.09%	0.01%
COLM	B	0.01%	0.03%	0.01%
COTY	F	0.0%	0.04%	0.0%
CPB	B	0.03%	0.11%	0.03%
CPRI	D	0.02%	0.05%	0.02%
CPT	B	0.02%	0.15%	0.02%
CR	C	0.01%	0.09%	0.01%
CRI	C	0.02%	0.03%	0.02%
CRL	D	0.01%	0.12%	0.01%
CROX	C	0.01%	0.07%	0.01%
CRUS	D	0.02%	0.08%	0.02%
CSGP	D	0.01%	0.37%	0.01%
CSL	C	0.04%	0.19%	0.04%
CTLT	B	0.02%	0.12%	0.02%
CTRA	F	0.01%	0.19%	0.01%
CTSH	C	0.17%	0.44%	0.17%
CTVA	B	0.08%	0.45%	0.08%
CUBE	B	0.02%	0.14%	0.02%
CUZ	B	0.01%	0.05%	0.01%
CW	B	0.02%	0.14%	0.02%
CWEN	B	0.01%	0.03%	0.01%
CWEN	B	0.01%	0.01%	0.01%
CZR	C	0.02%	0.1%	0.02%
DAL	C	0.02%	0.33%	0.02%
DAR	F	0.02%	0.06%	0.02%
DAY	D	0.0%	0.09%	0.0%
DBX	D	0.01%	0.05%	0.01%
DCI	D	0.02%	0.1%	0.02%
DD	B	0.17%	0.39%	0.17%
DDS	D	0.01%	0.01%	0.01%
DFS	C	0.2%	0.38%	0.2%
DG	F	0.08%	0.21%	0.08%
DGX	B	0.07%	0.2%	0.07%
DHI	B	0.18%	0.66%	0.18%
DINO	D	0.05%	0.08%	0.05%
DKS	D	0.04%	0.13%	0.04%
DLB	D	0.01%	0.05%	0.01%
DLR	B	0.07%	0.59%	0.07%
DLTR	F	0.04%	0.16%	0.04%
DNB	C	0.01%	0.04%	0.01%
DOC	C	0.04%	0.18%	0.04%
DOV	B	0.06%	0.29%	0.06%
DOW	D	0.18%	0.4%	0.18%
DOX	C	0.04%	0.11%	0.04%
DPZ	F	0.03%	0.1%	0.03%
DRI	C	0.04%	0.1%	0.04%
DTE	B	0.08%	0.3%	0.08%
DTM	B	0.01%	0.09%	0.01%
DVN	F	0.08%	0.28%	0.08%
DXC	C	0.05%	0.04%	0.04%
EA	D	0.08%	0.45%	0.08%
EBAY	B	0.18%	0.37%	0.18%
ED	C	0.12%	0.41%	0.12%
EEFT	D	0.01%	0.05%	0.01%
EFX	C	0.03%	0.34%	0.03%
EG	B	0.02%	0.16%	0.02%
EGP	B	0.01%	0.1%	0.01%
EHC	B	0.02%	0.11%	0.02%
EIX	C	0.1%	0.37%	0.1%
ELAN	D	0.02%	0.08%	0.02%
ELS	C	0.02%	0.16%	0.02%
EME	B	0.05%	0.13%	0.05%
EMN	B	0.07%	0.14%	0.07%
ENOV	F	0.01%	0.03%	0.01%
EPAM	D	0.01%	0.12%	0.01%
EPR	B	0.01%	0.04%	0.01%
EQR	B	0.05%	0.34%	0.05%
EQT	D	0.04%	0.21%	0.04%
ES	C	0.08%	0.27%	0.08%
ESAB	C	0.01%	0.06%	0.01%
ESI	D	0.01%	0.07%	0.01%
ESS	B	0.03%	0.23%	0.03%
ETR	A	0.1%	0.31%	0.1%
ETSY	F	0.01%	0.03%	0.01%
EVR	B	0.04%	0.1%	0.04%
EVRG	A	0.07%	0.16%	0.07%
EWBC	C	0.02%	0.13%	0.02%
EXAS	C	0.0%	0.08%	0.0%
EXC	B	0.17%	0.46%	0.17%
EXEL	B	0.01%	0.01%	0.01%
EXP	B	0.02%	0.03%	0.02%
EXPD	B	0.02%	0.16%	0.02%
EXR	B	0.04%	0.43%	0.04%
FAF	B	0.04%	0.08%	0.04%
FANG	D	0.04%	0.35%	0.04%
FAST	C	0.06%	0.07%	0.06%
FCN	C	0.02%	0.09%	0.02%
FCNCA	D	0.02%	0.25%	0.02%
FDS	C	0.01%	0.13%	0.01%
FE	C	0.09%	0.29%	0.09%
FFIV	A	0.03%	0.14%	0.03%
FHB	C	0.01%	0.03%	0.01%
FHN	D	0.03%	0.1%	0.03%
FICO	A	0.02%	0.08%	0.02%
FIS	B	0.12%	0.54%	0.12%
FITB	B	0.12%	0.33%	0.12%
FIVE	D	0.0%	0.01%	0.0%
FLO	C	0.02%	0.05%	0.02%
FLS	D	0.02%	0.07%	0.02%
FMC	C	0.03%	0.09%	0.03%
FNB	D	0.01%	0.06%	0.01%
FND	C	0.01%	0.09%	0.01%
FNF	A	0.06%	0.18%	0.06%
FOXA	B	0.08%	0.11%	0.08%
FR	C	0.01%	0.09%	0.01%
FRT	C	0.02%	0.11%	0.02%
FSLR	C	0.02%	0.28%	0.02%
FTI	D	0.02%	0.12%	0.02%
FTV	C	0.03%	0.3%	0.03%
FYBR	C	0.04%	0.1%	0.04%
G	C	0.02%	0.08%	0.02%
GAP	F	0.04%	0.05%	0.04%
GEHC	C	0.07%	0.38%	0.07%
GFS	F	0.0%	0.04%	0.0%
GGG	C	0.02%	0.16%	0.02%
GIS	B	0.12%	0.48%	0.12%
GL	C	0.03%	0.11%	0.03%
GLOB	D	0.0%	0.02%	0.0%
GLPI	B	0.02%	0.16%	0.02%
GLW	B	0.13%	0.37%	0.13%
GME	F	0.02%	0.06%	0.02%
GMED	D	0.01%	0.09%	0.01%
GNRC	D	0.02%	0.05%	0.02%
GNTX	F	0.02%	0.08%	0.02%
GO	F	0.0%	0.02%	0.0%
GPC	D	0.05%	0.22%	0.05%
GPK	B	0.03%	0.1%	0.03%
GPN	D	0.07%	0.32%	0.07%
GRMN	D	0.04%	0.31%	0.04%
GTES	C	0.01%	0.04%	0.01%
GWRE	A	0.01%	0.09%	0.01%
GWW	B	0.07%	0.06%	0.06%
GXO	D	0.02%	0.07%	0.02%
H	C	0.01%	0.06%	0.01%
HAL	F	0.05%	0.28%	0.05%
HAS	B	0.03%	0.01%	0.01%
HAYW	C	0.0%	0.02%	0.0%
HBAN	B	0.06%	0.24%	0.06%
HES	D	0.04%	0.14%	0.04%
HHH	C	0.01%	0.03%	0.01%
HIG	A	0.14%	0.39%	0.14%
HII	C	0.04%	0.12%	0.04%
HIW	B	0.02%	0.04%	0.02%
HLI	B	0.01%	0.08%	0.01%
HLT	B	0.05%	0.3%	0.05%
HOG	C	0.02%	0.05%	0.02%
HOLX	B	0.04%	0.21%	0.04%
HPE	D	0.17%	0.25%	0.17%
HPQ	D	0.19%	0.28%	0.19%
HRB	C	0.02%	0.08%	0.02%
HRL	C	0.03%	0.11%	0.03%
HSIC	C	0.04%	0.1%	0.04%
HST	D	0.04%	0.14%	0.04%
HSY	C	0.04%	0.29%	0.04%
HUBB	B	0.03%	0.25%	0.03%
HUM	F	0.19%	0.44%	0.19%
HUN	D	0.03%	0.04%	0.03%
HWM	B	0.06%	0.41%	0.06%
HXL	F	0.01%	0.06%	0.01%
IAC	C	0.01%	0.04%	0.01%
IBKR	B	0.01%	0.15%	0.01%
IDA	B	0.01%	0.06%	0.01%
IEX	D	0.02%	0.17%	0.02%
IFF	B	0.06%	0.3%	0.06%
ILMN	C	0.02%	0.24%	0.02%
INCY	C	0.01%	0.13%	0.01%
INGR	A	0.04%	0.1%	0.04%
INVH	C	0.03%	0.26%	0.03%
IP	B	0.14%	0.19%	0.14%
IPG	C	0.04%	0.13%	0.04%
IPGP	F	0.01%	0.02%	0.01%
IQV	C	0.08%	0.44%	0.08%
IR	C	0.03%	0.42%	0.03%
IRDM	D	0.0%	0.03%	0.0%
IRM	B	0.07%	0.17%	0.07%
ITT	C	0.02%	0.13%	0.02%
IVZ	C	0.04%	0.07%	0.04%
J	D	0.05%	0.21%	0.05%
JAZZ	D	0.02%	0.08%	0.02%
JBHT	D	0.04%	0.16%	0.04%
JBL	D	0.05%	0.13%	0.05%
JEF	B	0.05%	0.09%	0.05%
JHG	B	0.03%	0.05%	0.03%
JKHY	B	0.02%	0.15%	0.02%
JLL	B	0.08%	0.1%	0.08%
JNPR	A	0.05%	0.14%	0.05%
JWN	B	0.02%	0.03%	0.02%
K	A	0.07%	0.24%	0.07%
KBR	D	0.02%	0.09%	0.02%
KD	D	0.04%	0.06%	0.04%
KEX	C	0.01%	0.08%	0.01%
KEY	B	0.09%	0.17%	0.09%
KEYS	C	0.03%	0.3%	0.03%
KIM	B	0.03%	0.18%	0.03%
KMI	A	0.18%	0.47%	0.18%
KMPR	D	0.02%	0.04%	0.02%
KMX	D	0.06%	0.13%	0.06%
KNX	C	0.04%	0.1%	0.04%
KR	B	0.28%	0.42%	0.28%
KRC	B	0.01%	0.05%	0.01%
KSS	F	0.06%	0.03%	0.03%
KVUE	B	0.03%	0.51%	0.03%
L	B	0.05%	0.16%	0.05%
LAD	C	0.05%	0.09%	0.05%
LAMR	A	0.02%	0.1%	0.02%
LBRDK	D	0.0%	0.06%	0.0%
LDOS	C	0.07%	0.24%	0.07%
LEA	D	0.05%	0.07%	0.05%
LECO	F	0.02%	0.08%	0.02%
LEG	D	0.01%	0.02%	0.01%
LEN	B	0.18%	0.02%	0.02%
LEN	B	0.18%	0.51%	0.18%
LFUS	D	0.01%	0.07%	0.01%
LHX	D	0.15%	0.5%	0.15%
LITE	B	0.01%	0.04%	0.01%
LKQ	D	0.05%	0.12%	0.05%
LNC	D	0.05%	0.06%	0.05%
LNG	D	0.05%	0.23%	0.05%
LNT	A	0.04%	0.17%	0.04%
LOPE	D	0.02%	0.03%	0.02%
LPX	B	0.03%	0.02%	0.02%
LSCC	D	0.0%	0.01%	0.0%
LSTR	D	0.02%	0.08%	0.02%
LUV	C	0.02%	0.2%	0.02%
LW	D	0.01%	0.07%	0.01%
LYB	F	0.14%	0.28%	0.14%
LYFT	D	0.0%	0.01%	0.0%
M	F	0.05%	0.05%	0.05%
MAA	B	0.03%	0.22%	0.03%
MAN	C	0.05%	0.04%	0.04%
MAS	B	0.05%	0.2%	0.05%
MASI	D	0.01%	0.03%	0.01%
MAT	C	0.01%	0.07%	0.01%
MCHP	D	0.05%	0.47%	0.05%
MDU	B	0.02%	0.06%	0.02%
MGM	D	0.05%	0.1%	0.05%
MHK	B	0.07%	0.1%	0.07%
MIDD	C	0.02%	0.08%	0.02%
MKC	B	0.04%	0.24%	0.04%
MKL	C	0.04%	0.18%	0.04%
MKSI	F	0.02%	0.08%	0.02%
MKTX	C	0.01%	0.11%	0.01%
MLM	D	0.04%	0.35%	0.04%
MOH	C	0.05%	0.09%	0.05%
MOS	F	0.05%	0.1%	0.05%
MP	D	0.0%	0.02%	0.0%
MPW	C	0.02%	0.04%	0.02%
MRO	D	0.07%	0.17%	0.07%
MSA	C	0.01%	0.08%	0.01%
MSCI	C	0.03%	0.21%	0.03%
MSM	D	0.01%	0.04%	0.01%
MTB	B	0.09%	0.32%	0.09%
MTCH	C	0.01%	0.11%	0.01%
MTD	D	0.03%	0.33%	0.03%
MTDR	D	0.01%	0.06%	0.01%
MTG	B	0.02%	0.08%	0.02%
MTN	D	0.01%	0.01%	0.01%
MTZ	B	0.03%	0.08%	0.03%
NDAQ	B	0.03%	0.35%	0.03%
NDSN	C	0.02%	0.16%	0.02%
NEU	D	0.01%	0.04%	0.01%
NFG	B	0.02%	0.06%	0.02%
NI	B	0.04%	0.17%	0.04%
NNN	B	0.01%	0.1%	0.01%
NOV	D	0.02%	0.07%	0.02%
NRG	C	0.1%	0.12%	0.1%
NSA	B	0.01%	0.04%	0.01%
NTAP	D	0.07%	0.15%	0.07%
NTRS	B	0.06%	0.21%	0.06%
NUE	F	0.16%	0.4%	0.16%
NVR	B	0.07%	0.32%	0.07%
NVST	D	0.01%	0.04%	0.01%
NVT	D	0.02%	0.13%	0.02%
NWL	D	0.03%	0.04%	0.03%
NWSA	D	0.04%	0.11%	0.04%
NXST	D	0.03%	0.04%	0.03%
NYT	C	0.01%	0.1%	0.01%
O	B	0.04%	0.62%	0.04%
OC	C	0.05%	0.16%	0.05%
OGE	B	0.03%	0.09%	0.03%
OGN	D	0.06%	0.06%	0.06%
OHI	A	0.02%	0.11%	0.02%
OKE	B	0.12%	0.61%	0.12%
OKTA	F	0.0%	0.07%	0.0%
OLED	C	0.01%	0.06%	0.01%
OLLI	C	0.01%	0.07%	0.01%
OLN	D	0.03%	0.06%	0.03%
OMC	A	0.07%	0.22%	0.07%
OMF	C	0.05%	0.06%	0.05%
ON	D	0.03%	0.35%	0.03%
ONTO	F	0.01%	0.08%	0.01%
ORI	A	0.05%	0.1%	0.05%
OSK	D	0.03%	0.08%	0.03%
OTIS	D	0.04%	0.44%	0.04%
OVV	D	0.04%	0.12%	0.04%
OZK	D	0.01%	0.05%	0.01%
PAG	D	0.02%	0.03%	0.02%
PARA	F	0.09%	0.07%	0.07%
PAYC	D	0.01%	0.04%	0.01%
PAYX	C	0.06%	0.32%	0.06%
PB	B	0.02%	0.08%	0.02%
PCG	C	0.03%	0.48%	0.03%
PEG	B	0.11%	0.48%	0.11%
PENN	D	0.02%	0.03%	0.02%
PFG	B	0.08%	0.22%	0.08%
PFGC	B	0.05%	0.11%	0.05%
PHM	B	0.12%	0.33%	0.12%
PII	D	0.02%	0.05%	0.02%
PINC	C	0.01%	0.03%	0.01%
PK	D	0.02%	0.03%	0.02%
PKG	B	0.06%	0.21%	0.06%
PLNT	A	0.01%	0.04%	0.01%
PNFP	B	0.01%	0.08%	0.01%
PNR	B	0.03%	0.17%	0.03%
PNW	B	0.04%	0.12%	0.04%
POST	C	0.02%	0.07%	0.02%
PPC	D	0.01%	0.02%	0.01%
PPG	C	0.08%	0.34%	0.08%
PPL	C	0.11%	0.27%	0.11%
PR	D	0.0%	0.08%	0.0%
PRGO	D	0.02%	0.04%	0.02%
PRI	B	0.02%	0.1%	0.02%
PRU	C	0.21%	0.48%	0.21%
PSN	B	0.01%	0.05%	0.01%
PSTG	F	0.0%	0.02%	0.0%
PTC	D	0.01%	0.09%	0.01%
PVH	F	0.04%	0.06%	0.04%
PWR	B	0.06%	0.31%	0.06%
QRVO	F	0.05%	0.12%	0.05%
R	B	0.06%	0.07%	0.06%
RBC	C	0.01%	0.09%	0.01%
RCL	B	0.03%	0.3%	0.03%
REG	C	0.02%	0.16%	0.02%
REXR	C	0.01%	0.12%	0.01%
REYN	C	0.0%	0.02%	0.0%
RF	B	0.07%	0.23%	0.07%
RGA	B	0.04%	0.16%	0.04%
RGEN	F	0.0%	0.08%	0.0%
RGLD	B	0.01%	0.11%	0.01%
RH	B	0.01%	0.04%	0.01%
RHI	D	0.03%	0.07%	0.03%
RJF	C	0.04%	0.26%	0.04%
RKT	B	0.0%	0.03%	0.0%
RL	B	0.03%	0.08%	0.03%
RLI	B	0.01%	0.07%	0.01%
RMD	C	0.04%	0.3%	0.04%
RNR	B	0.01%	0.15%	0.01%
ROK	D	0.05%	0.31%	0.05%
ROKU	C	0.01%	0.09%	0.01%
ROST	C	0.08%	0.45%	0.08%
RPM	B	0.03%	0.14%	0.03%
RPRX	C	0.01%	0.12%	0.01%
RRC	D	0.01%	0.08%	0.01%
RRX	C	0.03%	0.12%	0.03%
RS	D	0.07%	0.18%	0.07%
RYN	C	0.01%	0.05%	0.01%
SAIA	D	0.01%	0.05%	0.01%
SAIC	C	0.03%	0.08%	0.03%
SAM	F	0.01%	0.02%	0.01%
SBAC	C	0.02%	0.3%	0.02%
SCI	B	0.02%	0.13%	0.02%
SEB	C	0.0%	0.01%	0.0%
SEE	D	0.02%	0.03%	0.02%
SEG	C	0.0%	0.0%	0.0%
SEIC	B	0.02%	0.08%	0.02%
SF	A	0.02%	0.1%	0.02%
SIRI	C	0.05%	0.07%	0.05%
SITE	D	0.01%	0.05%	0.01%
SJM	C	0.05%	0.14%	0.05%
SKX	C	0.02%	0.09%	0.02%
SLGN	B	0.01%	0.05%	0.01%
SLM	C	0.03%	0.05%	0.03%
SMG	C	0.01%	0.03%	0.01%
SN	B	0.01%	0.06%	0.01%
SNA	B	0.04%	0.17%	0.04%
SNDR	B	0.01%	0.02%	0.01%
SNV	C	0.02%	0.08%	0.02%
SNX	D	0.02%	0.1%	0.02%
SOLV	C	0.04%	0.11%	0.04%
SON	C	0.02%	0.06%	0.02%
SPB	B	0.02%	0.03%	0.02%
SPG	B	0.1%	0.45%	0.1%
SPR	D	0.02%	0.04%	0.02%
SQ	D	0.02%	0.24%	0.02%
SRCL	A	0.01%	0.07%	0.01%
SSD	C	0.01%	0.08%	0.01%
SSNC	B	0.04%	0.19%	0.04%
ST	D	0.02%	0.06%	0.02%
STAG	C	0.01%	0.08%	0.01%
STE	C	0.03%	0.28%	0.03%
STLD	D	0.08%	0.19%	0.08%
STT	A	0.09%	0.29%	0.09%
STWD	A	0.02%	0.07%	0.02%
SUI	B	0.03%	0.21%	0.03%
SW	B	0.1%	0.13%	0.1%
SWK	B	0.08%	0.18%	0.08%
SWKS	F	0.05%	0.19%	0.05%
SWN	D	0.03%	0.08%	0.03%
SYF	C	0.25%	0.22%	0.22%
SYY	D	0.1%	0.17%	0.1%
TAP	C	0.04%	0.11%	0.04%
TDY	C	0.02%	0.23%	0.02%
TECH	C	0.01%	0.13%	0.01%
TER	D	0.04%	0.02%	0.02%
TFX	C	0.02%	0.13%	0.02%
THC	B	0.07%	0.18%	0.07%
THG	A	0.02%	0.06%	0.02%
THO	D	0.04%	0.06%	0.04%
TKO	B	0.0%	0.09%	0.0%
TKR	D	0.02%	0.06%	0.02%
TNL	D	0.02%	0.03%	0.02%
TOL	B	0.05%	0.18%	0.05%
TPG	B	0.01%	0.04%	0.01%
TPR	C	0.04%	0.11%	0.04%
TRIP	F	0.0%	0.02%	0.0%
TRMB	C	0.02%	0.16%	0.02%
TROW	D	0.11%	0.26%	0.11%
TRU	B	0.03%	0.21%	0.03%
TSN	C	0.19%	0.2%	0.19%
TTC	D	0.02%	0.1%	0.02%
TTEK	C	0.02%	0.11%	0.02%
TTWO	D	0.02%	0.29%	0.02%
TW	A	0.01%	0.09%	0.01%
TWLO	D	0.01%	0.1%	0.01%
TXT	D	0.06%	0.19%	0.06%
TYL	C	0.01%	0.04%	0.01%
UAA	C	0.01%	0.02%	0.01%
UAL	B	0.02%	0.19%	0.02%
UDR	B	0.02%	0.18%	0.02%
UGI	C	0.04%	0.06%	0.04%
UHAL	B	0.02%	0.0%	0.0%
UHAL	B	0.02%	0.05%	0.02%
UHS	B	0.1%	0.15%	0.1%
ULTA	D	0.03%	0.03%	0.03%
UNM	B	0.05%	0.12%	0.05%
URI	B	0.11%	0.42%	0.11%
USFD	B	0.07%	0.16%	0.07%
UTHR	C	0.02%	0.17%	0.02%
VAC	F	0.01%	0.03%	0.01%
VFC	C	0.06%	0.07%	0.06%
VICI	C	0.02%	0.41%	0.02%
VIRT	B	0.02%	0.03%	0.02%
VLTO	C	0.02%	0.17%	0.02%
VMC	D	0.04%	0.27%	0.04%
VMI	D	0.02%	0.06%	0.02%
VNO	B	0.04%	0.07%	0.04%
VNT	D	0.01%	0.06%	0.01%
VOYA	A	0.03%	0.09%	0.03%
VRSN	D	0.01%	0.17%	0.01%
VSTS	D	0.01%	0.02%	0.01%
VTR	C	0.08%	0.3%	0.08%
VTRS	C	0.09%	0.16%	0.09%
W	D	0.0%	0.05%	0.0%
WAB	A	0.05%	0.34%	0.05%
WAL	B	0.02%	0.1%	0.02%
WAT	C	0.03%	0.09%	0.03%
WBA	F	0.13%	0.08%	0.08%
WBD	D	0.05%	0.24%	0.05%
WBS	C	0.01%	0.09%	0.01%
WCC	C	0.03%	0.08%	0.03%
WDC	D	0.13%	0.24%	0.13%
WEC	B	0.08%	0.35%	0.08%
WEN	C	0.01%	0.02%	0.01%
WEX	C	0.01%	0.09%	0.01%
WH	B	0.01%	0.06%	0.01%
WHR	D	0.06%	0.06%	0.06%
WLK	D	0.02%	0.05%	0.02%
WMB	B	0.14%	0.63%	0.14%
WMS	D	0.01%	0.07%	0.01%
WOLF	F	0.0%	0.01%	0.0%
WPC	B	0.02%	0.16%	0.02%
WRB	C	0.03%	0.21%	0.03%
WSC	D	0.01%	0.06%	0.01%
WSM	C	0.05%	0.09%	0.05%
WSO	C	0.03%	0.19%	0.03%
WST	D	0.01%	0.1%	0.01%
WTFC	B	0.01%	0.08%	0.01%
WTM	F	0.01%	0.05%	0.01%
WTRG	D	0.02%	0.11%	0.02%
WTW	B	0.06%	0.34%	0.06%
WU	D	0.03%	0.03%	0.03%
WWD	D	0.02%	0.11%	0.02%
WY	C	0.09%	0.27%	0.09%
WYNN	D	0.01%	0.08%	0.01%
X	D	0.07%	0.09%	0.07%
XEL	A	0.11%	0.41%	0.11%
XRAY	D	0.02%	0.06%	0.02%
XYL	D	0.04%	0.36%	0.04%
YETI	D	0.01%	0.03%	0.01%
YUM	D	0.08%	0.27%	0.08%
Z	B	0.01%	0.11%	0.01%
ZBH	F	0.04%	0.25%	0.04%
ZBRA	B	0.03%	0.16%	0.03%
ZI	D	0.0%	0.04%	0.0%
ZION	D	0.05%	0.08%	0.05%
ZM	C	0.01%	0.19%	0.01%

FNDB Overweight 1034 Positions Relative to IWS

Symbol	Grade	Weight
AAPL	D	4.19%
MSFT	C	2.36%
BRK.A	C	2.13%
JPM	D	1.81%
XOM	D	1.78%
META	A	1.72%
WMT	B	1.4%
AMZN	C	1.32%
T	B	1.27%
VZ	B	1.22%
UNH	C	1.16%
BAC	D	1.14%
GOOGL	D	1.13%
GOOG	D	0.99%
WFC	D	0.99%
CVX	D	0.99%
C	D	0.97%
JNJ	B	0.93%
PG	C	0.78%
HD	B	0.73%
CMCSA	D	0.7%
PFE	C	0.69%
CSCO	B	0.68%
COST	C	0.68%
AVGO	C	0.64%
GM	B	0.64%
CVS	D	0.63%
IBM	B	0.57%
ABBV	C	0.56%
INTC	F	0.55%
LUMN	C	0.53%
GS	D	0.52%
CI	C	0.51%
ELV	C	0.47%
PM	C	0.47%
MRK	D	0.47%
AMGN	B	0.45%
QCOM	D	0.43%
ORCL	B	0.43%
PEP	C	0.42%
KO	B	0.4%
MPC	D	0.39%
LOW	B	0.39%
COP	D	0.39%
UNP	B	0.37%
MMM	B	0.37%
LMT	C	0.37%
NVDA	D	0.36%
MO	C	0.36%
COF	C	0.36%
CAT	C	0.36%
DIS	D	0.35%
TGT	C	0.35%
VLO	D	0.35%
RTX	C	0.34%
AXP	B	0.34%
GILD	B	0.33%
BMY	C	0.33%
LIN	B	0.33%
MU	F	0.33%
PSX	D	0.33%
ACN	C	0.32%
MCD	C	0.32%
HON	D	0.32%
ABT	C	0.32%
TXN	C	0.32%
V	B	0.32%
MS	D	0.32%
DUK	C	0.31%
FDX	C	0.3%
F	D	0.29%
TRV	B	0.28%
USB	B	0.28%
SO	B	0.27%
PNC	B	0.27%
NEE	B	0.27%
CB	B	0.27%
TMO	C	0.27%
SBUX	C	0.26%
AIG	D	0.26%
MA	B	0.26%
LLY	C	0.25%
MDT	C	0.25%
BLK	A	0.24%
MET	A	0.24%
PGR	A	0.24%
AMAT	D	0.23%
HCA	B	0.23%
UPS	D	0.23%
TMUS	C	0.22%
TJX	C	0.22%
TFC	D	0.21%
MDLZ	B	0.21%
GD	B	0.21%
CSX	D	0.2%
ETN	C	0.2%
NOC	B	0.2%
DE	B	0.2%
ADBE	D	0.2%
BKNG	B	0.19%
EOG	D	0.19%
NSC	C	0.19%
D	C	0.18%
NEM	B	0.18%
NKE	D	0.17%
AEP	B	0.17%
TSLA	C	0.17%
PYPL	B	0.17%
DHR	B	0.16%
GE	B	0.16%
LRCX	F	0.15%
REGN	C	0.15%
CL	C	0.15%
ADP	B	0.14%
EMR	D	0.14%
NFLX	B	0.14%
JCI	B	0.14%
MMC	C	0.14%
SPGI	B	0.14%
WM	D	0.14%
FCX	D	0.13%
BA	F	0.13%
AMT	C	0.13%
ITW	B	0.13%
AON	B	0.12%
PCAR	D	0.12%
ICE	B	0.12%
SYK	C	0.12%
CARR	B	0.12%
ADI	D	0.12%
KKR	B	0.11%
VST	C	0.11%
KMB	D	0.11%
APD	B	0.11%
PH	B	0.11%
CRM	D	0.11%
SRE	B	0.11%
ORLY	B	0.1%
INTU	D	0.1%
KHC	C	0.1%
TEL	D	0.1%
SLB	F	0.1%
OXY	F	0.1%
WELL	B	0.1%
BDX	F	0.1%
BX	B	0.1%
ECL	B	0.09%
BSX	B	0.09%
AMD	F	0.09%
MCK	F	0.09%
KLAC	D	0.09%
CEG	C	0.09%
STX	D	0.09%
SCHW	D	0.09%
ZTS	B	0.08%
PLD	C	0.08%
KDP	A	0.08%
EQIX	B	0.08%
APH	D	0.08%
ISRG	C	0.08%
TT	B	0.08%
CTAS	C	0.08%
SHW	B	0.08%
STZ	C	0.07%
NXPI	D	0.07%
VRTX	D	0.07%
TDG	B	0.07%
MCO	A	0.07%
MAR	C	0.07%
CME	C	0.07%
TRGP	B	0.06%
TSCO	C	0.06%
AZO	D	0.06%
PSA	B	0.06%
MSI	C	0.06%
DVA	B	0.06%
RSG	D	0.06%
CPAY	B	0.05%
ROP	C	0.05%
FLEX	C	0.05%
JXN	B	0.04%
MRNA	F	0.04%
CLX	C	0.04%
MNST	C	0.04%
SATS	B	0.04%
VRSK	D	0.04%
ZIM	C	0.04%
TDS	C	0.04%
EQH	C	0.04%
GPI	B	0.04%
GEV	B	0.04%
SFM	B	0.04%
ODFL	C	0.04%
MUSA	C	0.04%
FTNT	C	0.03%
CMC	D	0.03%
AER	C	0.03%
EXPE	C	0.03%
PBF	F	0.03%
GT	F	0.03%
CRBG	D	0.03%
CHKP	C	0.03%
MLI	B	0.03%
SNPS	D	0.03%
ADSK	B	0.03%
LII	B	0.03%
CDNS	D	0.03%
LVS	D	0.03%
TPH	C	0.03%
GNW	B	0.03%
SANM	D	0.03%
DECK	C	0.03%
BURL	B	0.03%
CCEP	B	0.03%
PANW	D	0.03%
HBI	B	0.03%
KBH	B	0.03%
BCC	C	0.03%
ANF	D	0.03%
IT	B	0.03%
UFPI	C	0.03%
FL	D	0.03%
APO	C	0.03%
SLG	B	0.03%
ANET	B	0.03%
UBER	C	0.03%
MTH	B	0.03%
BAH	B	0.03%
BAP	A	0.03%
CNO	B	0.03%
CMG	C	0.03%
MRVL	C	0.03%
TMHC	B	0.03%
EL	F	0.03%
EW	F	0.03%
FIX	B	0.02%
DBRG	D	0.02%
UNFI	C	0.02%
GATX	D	0.02%
GVA	B	0.02%
AVNT	B	0.02%
WERN	D	0.02%
SM	D	0.02%
AIT	C	0.02%
SCCO	D	0.02%
BECN	D	0.02%
PLXS	B	0.02%
RXO	D	0.02%
ICLR	D	0.02%
CBT	B	0.02%
BHE	C	0.02%
SEM	D	0.02%
LNW	B	0.02%
DHC	B	0.02%
MOG.A	B	0.02%
REZI	D	0.02%
LULU	D	0.02%
GEO	F	0.02%
BKH	B	0.02%
AEO	D	0.02%
CYH	B	0.02%
TGNA	C	0.02%
XPO	D	0.02%
MMS	D	0.02%
HUBG	C	0.02%
HEI	B	0.02%
HCC	F	0.02%
TXRH	D	0.02%
SWX	C	0.02%
POR	B	0.02%
ASGN	D	0.02%
SPOT	B	0.02%
TPX	C	0.02%
LILAK	D	0.02%
MUR	D	0.02%
MAC	B	0.02%
ASO	C	0.02%
RUSHA	C	0.02%
CRS	B	0.02%
PRG	B	0.02%
SLVM	B	0.02%
RDN	B	0.02%
XRX	F	0.02%
NOW	A	0.02%
BTU	D	0.02%
NAVI	C	0.02%
POOL	C	0.02%
BKU	C	0.02%
QRTEA	F	0.02%
MHO	B	0.02%
TPC	C	0.02%
ABM	D	0.02%
DY	B	0.02%
CNX	A	0.02%
ABG	F	0.02%
CPRT	D	0.02%
NSIT	C	0.02%
ALV	F	0.02%
GDDY	C	0.02%
IDXX	C	0.02%
LPLA	D	0.02%
FLR	D	0.02%
RAMP	F	0.01%
COMP	B	0.01%
INDB	C	0.01%
ROAD	B	0.01%
CNDT	C	0.01%
OPEN	D	0.01%
CORT	B	0.01%
HLX	D	0.01%
POWI	F	0.01%
UCTT	F	0.01%
HZO	C	0.01%
OMCL	C	0.01%
BLMN	F	0.01%
SCHL	D	0.01%
MRC	D	0.01%
NSP	D	0.01%
CODI	D	0.01%
LGF.A	F	0.01%
PEB	D	0.01%
CCOI	C	0.01%
WNC	F	0.01%
IRT	B	0.01%
MTRN	D	0.01%
NVRI	D	0.01%
RNG	D	0.01%
OII	D	0.01%
NBTB	D	0.01%
BGS	D	0.01%
MATV	B	0.01%
KLG	C	0.01%
KN	D	0.01%
LADR	B	0.01%
NMIH	B	0.01%
CBZ	F	0.01%
CSWI	B	0.01%
AMCX	F	0.01%
AY	B	0.01%
AXL	F	0.01%
CNS	B	0.01%
MGY	C	0.01%
ROIC	B	0.01%
HALO	B	0.01%
HWKN	B	0.01%
PRK	C	0.01%
NWBI	C	0.01%
SYNA	F	0.01%
PRDO	D	0.01%
EXPO	B	0.01%
CCO	C	0.01%
CPNG	B	0.01%
STRL	B	0.01%
MGRC	F	0.01%
CWT	C	0.01%
ESE	B	0.01%
THRM	D	0.01%
VIAV	D	0.01%
MD	C	0.01%
NTGR	C	0.01%
HCSG	C	0.01%
HAIN	D	0.01%
IBTX	B	0.01%
HAE	D	0.01%
MGEE	B	0.01%
GCI	C	0.01%
KW	C	0.01%
JACK	F	0.01%
GOLF	F	0.01%
SAFT	C	0.01%
TILE	B	0.01%
RRR	D	0.01%
JJSF	C	0.01%
FRME	C	0.01%
NWN	B	0.01%
HEES	D	0.01%
ROCK	D	0.01%
HI	F	0.01%
ARI	F	0.01%
CENTA	D	0.01%
NGVT	F	0.01%
FFIN	B	0.01%
UCBI	B	0.01%
HELE	D	0.01%
FBP	C	0.01%
TOWN	B	0.01%
BSIG	B	0.01%
ORA	C	0.01%
FTDR	B	0.01%
ENR	F	0.01%
PINS	F	0.01%
KFRC	D	0.01%
NTCT	D	0.01%
VC	F	0.01%
CVBF	C	0.01%
BKD	D	0.01%
ABNB	D	0.01%
CNXN	B	0.01%
ABR	B	0.01%
AKR	C	0.01%
SNBR	C	0.01%
RHP	D	0.01%
LXP	B	0.01%
CBRL	D	0.01%
HGV	D	0.01%
EIG	B	0.01%
WSFS	C	0.01%
JBT	D	0.01%
CSTM	D	0.01%
ESGR	D	0.01%
OTTR	D	0.01%
WOR	F	0.01%
WSBC	D	0.01%
CHX	D	0.01%
MELI	B	0.01%
STRA	D	0.01%
MMSI	B	0.01%
AX	D	0.01%
PMT	B	0.01%
BKE	B	0.01%
PPBI	D	0.01%
GFF	C	0.01%
OSIS	C	0.01%
KALU	F	0.01%
VSAT	F	0.01%
CDE	C	0.01%
AEIS	D	0.01%
BCPC	C	0.01%
GNL	B	0.01%
SASR	B	0.01%
CBU	C	0.01%
BV	B	0.01%
REVG	C	0.01%
ATKR	F	0.01%
ICFI	C	0.01%
NPO	C	0.01%
AIN	D	0.01%
ESRT	B	0.01%
DLX	D	0.01%
PGRE	C	0.01%
PFS	B	0.01%
HL	C	0.01%
RIG	F	0.01%
DIOD	F	0.01%
EMBC	C	0.01%
FIBK	B	0.01%
PLTR	B	0.01%
ALEX	B	0.01%
AMR	F	0.01%
TREX	F	0.01%
UE	B	0.01%
HTLF	B	0.01%
XHR	C	0.01%
BDN	B	0.01%
IOSP	D	0.01%
CABO	F	0.01%
PBH	B	0.01%
TNET	D	0.01%
BANR	B	0.01%
FFBC	C	0.01%
NHC	D	0.01%
TRMK	C	0.01%
LANC	D	0.01%
LRN	B	0.01%
SHO	D	0.01%
MORN	C	0.01%
WDAY	D	0.01%
HLF	F	0.01%
IBP	C	0.01%
SKT	B	0.01%
IBOC	C	0.01%
NHI	A	0.01%
KRG	B	0.01%
HTH	C	0.01%
AZZ	C	0.01%
EPC	F	0.01%
VGR	C	0.01%
APOG	B	0.01%
OPCH	C	0.01%
HOPE	B	0.01%
RLJ	D	0.01%
IDCC	B	0.01%
TCBI	B	0.01%
MANH	B	0.01%
JBLU	D	0.01%
SCL	D	0.01%
ECPG	C	0.01%
PECO	B	0.01%
DORM	B	0.01%
EXLS	C	0.01%
AMN	F	0.01%
DELL	D	0.01%
TDC	F	0.01%
ZD	D	0.01%
ABCB	B	0.01%
MWA	C	0.01%
HPP	D	0.01%
DRH	C	0.01%
FELE	C	0.01%
FWRD	C	0.01%
FSS	D	0.01%
AIR	C	0.01%
TPL	C	0.01%
SMTC	C	0.01%
LBRT	D	0.01%
GEF	D	0.01%
KAR	D	0.01%
WWW	B	0.01%
WTS	C	0.01%
APP	B	0.01%
ITRI	C	0.01%
BOH	C	0.01%
TROX	F	0.01%
AMRK	C	0.01%
CEIX	D	0.01%
DOLE	A	0.01%
FULT	C	0.01%
IGT	D	0.01%
PBI	C	0.01%
DNOW	D	0.01%
BGC	B	0.01%
YELP	F	0.01%
AROC	C	0.01%
APAM	C	0.01%
VSTO	B	0.01%
KTB	B	0.01%
ARES	B	0.01%
BOOT	B	0.01%
SAH	D	0.01%
MCY	C	0.01%
CVCO	B	0.01%
SIGI	C	0.01%
AMWD	C	0.01%
KELYA	D	0.01%
SKYW	C	0.01%
SLAB	D	0.01%
WGO	D	0.01%
ITGR	B	0.01%
NMRK	B	0.01%
CVLT	B	0.01%
B	D	0.01%
PDM	B	0.01%
PLUS	B	0.01%
CATY	B	0.01%
GBCI	B	0.01%
LAUR	B	0.01%
SFNC	B	0.01%
SCSC	D	0.01%
DASH	C	0.01%
BXMT	C	0.01%
MTX	D	0.01%
JBGS	B	0.01%
PTEN	F	0.01%
SKY	B	0.01%
EAT	B	0.01%
FN	D	0.01%
SUM	C	0.01%
ROL	C	0.01%
ENSG	C	0.01%
SVC	F	0.01%
PIPR	B	0.01%
UMBF	B	0.01%
ICUI	B	0.01%
LGIH	C	0.01%
OUT	B	0.01%
MATX	C	0.01%
LZB	C	0.01%
BDC	B	0.01%
ARCH	F	0.01%
VEEV	C	0.01%
ONB	C	0.01%
UVV	D	0.01%
CRC	C	0.01%
CHDN	C	0.01%
CNK	B	0.01%
SXT	C	0.01%
WMK	C	0.01%
PHIN	B	0.01%
CALM	B	0.01%
GBX	C	0.01%
APLE	D	0.01%
VLY	C	0.01%
KMT	B	0.01%
DK	F	0.01%
AVA	B	0.01%
PDCO	F	0.01%
WAFD	B	0.01%
ARCB	D	0.01%
JELD	D	0.01%
OMI	D	0.01%
MLKN	D	0.01%
WD	B	0.01%
ENVA	C	0.01%
PCH	C	0.01%
UNF	B	0.01%
MOD	C	0.01%
PSMT	B	0.01%
HRI	C	0.01%
THS	C	0.01%
HE	F	0.01%
UBSI	B	0.01%
PNM	B	0.01%
VVV	D	0.01%
ACA	C	0.01%
SCS	B	0.01%
VSH	D	0.01%
NJR	B	0.01%
ADTN	F	0.01%
ALE	A	0.01%
BCO	B	0.01%
HWC	D	0.01%
IMKTA	D	0.01%
MPWR	C	0.01%
URBN	D	0.01%
NWE	A	0.01%
ASB	D	0.01%
VSCO	C	0.01%
TEX	D	0.01%
ADNT	F	0.01%
TRN	C	0.01%
LCII	C	0.01%
ANDE	D	0.01%
NOMD	B	0.01%
CXW	F	0.01%
ENTG	D	0.01%
MC	B	0.01%
SBH	B	0.01%
ACIW	B	0.01%
FDP	B	0.01%
HP	D	0.01%
KNF	B	0.01%
PATK	B	0.01%
SHOO	B	0.01%
FUL	D	0.01%
ATGE	D	0.01%
ESNT	B	0.01%
GMS	C	0.01%
OGS	B	0.01%
TTMI	D	0.01%
VRT	C	0.01%
CADE	B	0.01%
COMM	B	0.01%
GIII	C	0.01%
ODP	F	0.01%
PFSI	B	0.01%
SR	B	0.01%
DAN	F	0.01%
CWK	B	0.01%
SPTN	C	0.01%
HNI	B	0.01%
SMCI	F	0.01%
SBRA	B	0.01%
KFY	B	0.01%
UNIT	C	0.01%
SIG	C	0.01%
STC	B	0.01%
DEI	B	0.01%
OI	D	0.01%
GHC	C	0.01%
ENS	C	0.01%
EBS	D	0.01%
CCS	B	0.01%
COOP	B	0.01%
BIG	F	0.0%
PCRX	F	0.0%
GIC	D	0.0%
CRNC	F	0.0%
TTEC	F	0.0%
TWI	D	0.0%
GSM	F	0.0%
LESL	F	0.0%
KE	F	0.0%
THR	D	0.0%
AMPH	C	0.0%
ONEW	F	0.0%
REX	D	0.0%
MGPI	C	0.0%
NIC	C	0.0%
TBBK	B	0.0%
SPWH	D	0.0%
BMBL	F	0.0%
CENT	D	0.0%
SNEX	C	0.0%
WMG	D	0.0%
IRWD	F	0.0%
CMTL	D	0.0%
HLNE	B	0.0%
SSP	F	0.0%
SEDG	F	0.0%
MODV	F	0.0%
HOV	C	0.0%
EDR	A	0.0%
AVD	F	0.0%
RILY	F	0.0%
AOSL	D	0.0%
AMRC	C	0.0%
CRMT	F	0.0%
AMSF	C	0.0%
PKST	C	0.0%
TK	C	0.0%
SSYS	F	0.0%
AGM	D	0.0%
RMBS	F	0.0%
SNAP	F	0.0%
GPRO	F	0.0%
MOV	F	0.0%
VSEC	C	0.0%
OIS	F	0.0%
GDEN	D	0.0%
PRM	B	0.0%
MED	F	0.0%
VCTR	B	0.0%
IVT	B	0.0%
MXL	F	0.0%
PETS	D	0.0%
USM	C	0.0%
LEVI	C	0.0%
VIR	F	0.0%
AGL	F	0.0%
GTLS	F	0.0%
KNSL	C	0.0%
SFBS	B	0.0%
GPMT	D	0.0%
DIN	F	0.0%
LYV	B	0.0%
VRTS	D	0.0%
BRSP	D	0.0%
VREX	F	0.0%
SBCF	C	0.0%
SGRY	C	0.0%
DENN	D	0.0%
JRVR	F	0.0%
DT	C	0.0%
CALX	D	0.0%
ALGT	F	0.0%
CMP	D	0.0%
PRVA	D	0.0%
KRNY	C	0.0%
TITN	F	0.0%
PLCE	C	0.0%
XPRO	F	0.0%
RNST	D	0.0%
DHIL	B	0.0%
IRBT	F	0.0%
USPH	D	0.0%
FIZZ	D	0.0%
RYAM	B	0.0%
MYE	D	0.0%
NPK	C	0.0%
CCRN	F	0.0%
FLGT	D	0.0%
CTRE	B	0.0%
AMBC	F	0.0%
HLIO	D	0.0%
ARKO	C	0.0%
SRI	F	0.0%
CTRN	D	0.0%
CMTG	F	0.0%
ASTH	B	0.0%
RC	D	0.0%
MEI	F	0.0%
ATNI	C	0.0%
CSV	B	0.0%
SNOW	F	0.0%
TOST	B	0.0%
HAFC	C	0.0%
GNK	D	0.0%
FLWS	F	0.0%
CSR	B	0.0%
SSTK	F	0.0%
RUN	C	0.0%
PLOW	C	0.0%
BJRI	D	0.0%
NOG	D	0.0%
CLDT	D	0.0%
ARCO	F	0.0%
CRGY	D	0.0%
UFCS	D	0.0%
CNOB	B	0.0%
TPIC	D	0.0%
ALTO	D	0.0%
CCSI	C	0.0%
WASH	B	0.0%
CLOV	C	0.0%
PEN	D	0.0%
ALRM	F	0.0%
CRAI	C	0.0%
AMC	D	0.0%
RGP	F	0.0%
GTY	B	0.0%
SRCE	C	0.0%
TDOC	D	0.0%
CLB	D	0.0%
DBI	F	0.0%
VRNT	F	0.0%
OPK	C	0.0%
OPI	F	0.0%
EVRI	C	0.0%
WABC	D	0.0%
DCO	B	0.0%
BRY	F	0.0%
BANF	B	0.0%
SHYF	D	0.0%
ALKS	C	0.0%
HFWA	C	0.0%
WOW	D	0.0%
CARS	D	0.0%
MTW	F	0.0%
VAL	F	0.0%
ZEUS	F	0.0%
SPSC	D	0.0%
TMP	C	0.0%
PFC	C	0.0%
OCFC	B	0.0%
AVO	A	0.0%
IPAR	D	0.0%
TEN	C	0.0%
EGBN	C	0.0%
PEGA	C	0.0%
MERC	F	0.0%
MATW	F	0.0%
PARR	F	0.0%
PZZA	D	0.0%
WRLD	D	0.0%
WTTR	C	0.0%
GRBK	B	0.0%
MTUS	F	0.0%
KREF	B	0.0%
TNK	D	0.0%
NVEE	F	0.0%
HSII	C	0.0%
DAC	D	0.0%
HASI	B	0.0%
BRC	B	0.0%
BBSI	B	0.0%
TBI	F	0.0%
BRKL	C	0.0%
EAF	D	0.0%
LKFN	C	0.0%
UTL	B	0.0%
HVT	D	0.0%
TCBK	C	0.0%
ICHR	F	0.0%
PTON	C	0.0%
EBF	B	0.0%
COHU	F	0.0%
EVTC	D	0.0%
ECVT	F	0.0%
RES	D	0.0%
AVNS	B	0.0%
SHEN	F	0.0%
INSW	D	0.0%
PRLB	D	0.0%
AHCO	B	0.0%
ETH	D	0.0%
CMCO	F	0.0%
GDOT	C	0.0%
CMRE	D	0.0%
PRIM	C	0.0%
IHRT	D	0.0%
SBSI	B	0.0%
USNA	F	0.0%
CFFN	C	0.0%
ERIE	A	0.0%
CPF	B	0.0%
DXPE	C	0.0%
ACLS	F	0.0%
LIVN	D	0.0%
WOOF	C	0.0%
CNNE	D	0.0%
SGH	F	0.0%
TUP	F	0.0%
STNE	F	0.0%
IART	F	0.0%
STEP	B	0.0%
SFIX	C	0.0%
SBLK	D	0.0%
AUB	C	0.0%
FOXF	F	0.0%
SONO	F	0.0%
LNN	C	0.0%
PRA	C	0.0%
ASTE	F	0.0%
GLDD	C	0.0%
PODD	B	0.0%
CLW	F	0.0%
RGR	F	0.0%
MNRO	D	0.0%
CBL	D	0.0%
SMP	C	0.0%
EPAC	B	0.0%
CRK	D	0.0%
CVGW	C	0.0%
WFRD	F	0.0%
SUPN	C	0.0%
PRFT	A	0.0%
LTC	B	0.0%
FBNC	B	0.0%
UVE	B	0.0%
GCO	D	0.0%
HTLD	D	0.0%
UIS	C	0.0%
NEOG	C	0.0%
WHD	C	0.0%
CWH	C	0.0%
OFG	C	0.0%
CTS	D	0.0%
CHCO	B	0.0%
XP	D	0.0%
FHI	A	0.0%
GPRE	F	0.0%
SSB	B	0.0%
SXC	F	0.0%
CPS	F	0.0%
SMPL	D	0.0%
SCVL	B	0.0%
ALIT	D	0.0%
THRY	D	0.0%
TSE	D	0.0%
ZIMV	F	0.0%
JBSS	D	0.0%
EPRT	A	0.0%
MYGN	B	0.0%
VRRM	D	0.0%
PAGS	F	0.0%
PRGS	C	0.0%
RDNT	B	0.0%
PLAY	F	0.0%
AGX	C	0.0%
ASIX	C	0.0%
KTOS	B	0.0%
NOVT	D	0.0%
EYE	F	0.0%
FCPT	A	0.0%
CNMD	D	0.0%
LPG	F	0.0%
PJT	B	0.0%
PUMP	F	0.0%
QLYS	F	0.0%
RWT	B	0.0%
SJW	C	0.0%
OEC	F	0.0%
SENEA	B	0.0%
HQY	C	0.0%
STNG	D	0.0%
RDUS	D	0.0%
MODG	F	0.0%
BXC	D	0.0%
EXPI	C	0.0%
CHEF	C	0.0%
SABR	D	0.0%
ENPH	C	0.0%
NUS	F	0.0%
HMST	C	0.0%
TRTX	C	0.0%
DEA	B	0.0%
GLNG	D	0.0%
PRAA	D	0.0%
DHT	C	0.0%
SWBI	D	0.0%
AWR	B	0.0%
FCF	C	0.0%
HURN	C	0.0%
KWR	D	0.0%
EFSC	B	0.0%
ZUMZ	D	0.0%
TRNO	C	0.0%
GES	F	0.0%
CVI	F	0.0%
CAL	F	0.0%
CNSL	A	0.0%
GTN	D	0.0%
VBTX	B	0.0%
NX	D	0.0%
ALG	D	0.0%
HMN	C	0.0%
NBR	F	0.0%
BLKB	B	0.0%
MYRG	F	0.0%
CUBI	F	0.0%
ZWS	B	0.0%
MMI	C	0.0%
OXM	D	0.0%
TNC	D	0.0%
CWST	D	0.0%
TRS	D	0.0%
ACCO	C	0.0%
ILPT	C	0.0%
WDFC	B	0.0%
AAT	B	0.0%
KOP	F	0.0%
EBC	B	0.0%
BSY	D	0.0%
CMPR	F	0.0%
ADUS	B	0.0%
ENV	C	0.0%
CPK	B	0.0%
PTVE	D	0.0%
CAKE	C	0.0%
STBA	B	0.0%
SXI	C	0.0%
PLAB	F	0.0%
WING	B	0.0%
DXCM	F	0.0%
AAN	C	0.0%
SFL	D	0.0%
CSGS	C	0.0%
BNL	B	0.0%
CASH	B	0.0%
BMI	B	0.0%
NNI	B	0.0%
NBIX	F	0.0%
INVA	B	0.0%
HOMB	B	0.0%
MEDP	D	0.0%
HTZ	D	0.0%
KLIC	D	0.0%
BZH	B	0.0%
MRCY	C	0.0%
TALO	F	0.0%
AGRO	C	0.0%
ROG	D	0.0%
AAON	B	0.0%
BUSE	C	0.0%
MRTN	D	0.0%
ATSG	D	0.0%
RYI	F	0.0%
KAI	C	0.0%
DFIN	B	0.0%
CARG	B	0.0%
FORM	F	0.0%
NTB	C	0.0%
TTD	B	0.0%
KOS	F	0.0%

FNDB Underweight 72 Positions Relative to IWS

Symbol	Grade	Weight
FERG	C	-0.42%
COO	B	-0.25%
MSTR	D	-0.24%
LH	B	-0.21%
HOOD	C	-0.17%
GEN	A	-0.17%
RVTY	B	-0.17%
RIVN	F	-0.13%
NLY	A	-0.12%
NTNX	C	-0.12%
FBIN	B	-0.12%
CVNA	B	-0.11%
FWONK	D	-0.11%
AFRM	C	-0.11%
SOFI	C	-0.08%
HR	C	-0.08%
RITM	B	-0.07%
AZPN	A	-0.07%
CART	A	-0.07%
CCCS	D	-0.06%
FOX	B	-0.06%
MTSI	D	-0.06%
BILL	D	-0.05%
ROIV	C	-0.05%
S	C	-0.05%
DOCS	B	-0.05%
FRPT	B	-0.05%
NWS	D	-0.04%
U	D	-0.04%
LBTYA	B	-0.04%
LCID	C	-0.04%
MSGS	B	-0.04%
LBTYK	B	-0.04%
ALNY	B	-0.04%
RCM	C	-0.03%
QDEL	D	-0.03%
SHC	B	-0.03%
BHF	D	-0.03%
VNOM	C	-0.03%
ZG	B	-0.03%
CXT	D	-0.03%
UA	C	-0.02%
INFA	D	-0.02%
FTRE	F	-0.02%
AS	C	-0.02%
BIRK	D	-0.02%
BROS	D	-0.02%
LLYVK	B	-0.02%
ADT	D	-0.02%
QS	F	-0.02%
LAZ	A	-0.01%
UI	B	-0.01%
IONS	F	-0.01%
PLTK	C	-0.01%
TFSL	C	-0.01%
PATH	D	-0.01%
HCP	A	-0.01%
LBRDA	D	-0.01%
LLYVA	B	-0.01%
TXG	D	-0.01%
PYCR	D	-0.01%
ALAB	D	-0.01%
NCNO	D	-0.01%
DV	F	-0.01%
FWONA	C	-0.01%
CERT	F	-0.01%
LOAR	C	-0.0%
PARAA	D	-0.0%
UWMC	C	-0.0%
GRAL	F	-0.0%
NFE	F	-0.0%
DJT	F	-0.0%