FNDX vs. BFOR ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to Barron's 400 (BFOR)

FNDX

Schwab Fundamental U.S. Large Company Index ETF

FNDX Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Large 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

$24.83

Average Daily Volume

1,186,729

Number of Holdings ^*

721

* may have additional holdings in another (foreign) market

BFOR

Barron's 400

BFOR Description

The investment seeks investment results that correspond generally, before fees and expenses, to the performance of the Barron's 400 Index (the "underlying index"). The underlying index is a rules-based index intended to give investors a means of tracking the overall performance of high performing equity securities of U.S. companies. The fund will invest at least 80% of its total assets in the equity securities which comprise the index. The underlying index's stocks are constituents of the MarketGrader U.S. Coverage Universe.

Grade (RS Rating)

Last Trade

$78.80

Average Daily Volume

4,071

Number of Holdings ^*

388

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	BFOR
30 Days	3.67%	9.34%
60 Days	4.58%	10.13%
90 Days	6.53%	11.66%
12 Months	29.67%	38.09%

178 Overlapping Holdings

Symbol	Grade	Weight in FNDX	Weight in BFOR	Overlap
AAPL	C	4.35%	0.24%	0.24%
ACGL	D	0.03%	0.2%	0.03%
ADBE	C	0.2%	0.23%	0.2%
ADP	B	0.15%	0.25%	0.15%
ADSK	A	0.03%	0.26%	0.03%
AFL	B	0.21%	0.23%	0.21%
AIZ	A	0.03%	0.25%	0.03%
AKAM	D	0.03%	0.2%	0.03%
ALL	A	0.27%	0.24%	0.24%
ALSN	B	0.05%	0.31%	0.05%
AMAT	F	0.24%	0.22%	0.22%
AMP	A	0.15%	0.29%	0.15%
AMZN	C	1.56%	0.26%	0.26%
ANET	C	0.04%	0.25%	0.04%
AOS	F	0.02%	0.2%	0.02%
APA	D	0.03%	0.21%	0.03%
APD	A	0.13%	0.25%	0.13%
APH	A	0.09%	0.26%	0.09%
APO	B	0.03%	0.32%	0.03%
ATR	B	0.02%	0.26%	0.02%
AXP	A	0.36%	0.25%	0.25%
BKNG	A	0.24%	0.28%	0.24%
BKR	B	0.16%	0.29%	0.16%
BLDR	D	0.06%	0.22%	0.06%
BR	A	0.03%	0.25%	0.03%
BRO	B	0.02%	0.24%	0.02%
BURL	A	0.03%	0.22%	0.03%
CACI	D	0.03%	0.23%	0.03%
CASY	A	0.05%	0.24%	0.05%
CAT	B	0.41%	0.25%	0.25%
CBOE	B	0.01%	0.22%	0.01%
CCL	B	0.06%	0.31%	0.06%
CEG	D	0.1%	0.26%	0.1%
CF	B	0.07%	0.24%	0.07%
CHD	B	0.04%	0.23%	0.04%
CHTR	C	0.35%	0.26%	0.26%
CINF	A	0.07%	0.25%	0.07%
CL	D	0.13%	0.2%	0.13%
CME	A	0.08%	0.24%	0.08%
CMG	B	0.04%	0.24%	0.04%
CNO	A	0.04%	0.26%	0.04%
COR	B	0.02%	0.23%	0.02%
COST	B	0.66%	0.23%	0.23%
CPAY	A	0.06%	0.27%	0.06%
CPRT	A	0.03%	0.26%	0.03%
CSL	C	0.05%	0.24%	0.05%
CTAS	B	0.08%	0.24%	0.08%
CTSH	B	0.19%	0.24%	0.19%
CW	B	0.03%	0.27%	0.03%
DBX	B	0.01%	0.25%	0.01%
DCI	B	0.02%	0.25%	0.02%
DECK	A	0.03%	0.26%	0.03%
DHI	D	0.16%	0.19%	0.16%
DKS	C	0.04%	0.21%	0.04%
DOV	A	0.06%	0.24%	0.06%
DRI	B	0.05%	0.24%	0.05%
DVA	B	0.06%	0.21%	0.06%
DVN	F	0.09%	0.23%	0.09%
EA	A	0.09%	0.26%	0.09%
EBAY	D	0.17%	0.22%	0.17%
ECL	D	0.08%	0.22%	0.08%
EG	C	0.02%	0.21%	0.02%
EME	C	0.06%	0.28%	0.06%
EOG	A	0.23%	0.25%	0.23%
EWBC	A	0.03%	0.29%	0.03%
EXP	A	0.03%	0.25%	0.03%
EXPE	B	0.04%	0.31%	0.04%
FANG	D	0.05%	0.24%	0.05%
FAST	B	0.07%	0.27%	0.07%
FCNCA	A	0.02%	0.26%	0.02%
FDX	B	0.32%	0.22%	0.22%
FFIV	B	0.03%	0.26%	0.03%
FITB	A	0.13%	0.26%	0.13%
FLEX	A	0.06%	0.29%	0.06%
FMC	D	0.03%	0.2%	0.03%
FSLR	F	0.01%	0.19%	0.01%
FTI	A	0.01%	0.26%	0.01%
FTNT	C	0.03%	0.28%	0.03%
G	B	0.03%	0.26%	0.03%
GDDY	A	0.03%	0.28%	0.03%
GGG	B	0.02%	0.24%	0.02%
GL	B	0.03%	0.23%	0.03%
GOOGL	C	1.33%	0.26%	0.26%
HES	B	0.06%	0.25%	0.06%
HIG	B	0.14%	0.23%	0.14%
HOG	D	0.02%	0.2%	0.02%
HOLX	D	0.04%	0.21%	0.04%
HRB	D	0.01%	0.21%	0.01%
HSY	F	0.04%	0.2%	0.04%
HUBB	B	0.03%	0.25%	0.03%
HWM	A	0.07%	0.27%	0.07%
IBM	C	0.54%	0.22%	0.22%
INGR	B	0.05%	0.25%	0.05%
IPG	D	0.04%	0.21%	0.04%
IQV	D	0.07%	0.2%	0.07%
ISRG	A	0.09%	0.25%	0.09%
IT	C	0.03%	0.24%	0.03%
ITT	A	0.03%	0.26%	0.03%
JKHY	D	0.02%	0.22%	0.02%
JNJ	D	0.89%	0.21%	0.21%
JPM	A	2.03%	0.26%	0.26%
JWN	C	0.01%	0.23%	0.01%
KLAC	D	0.08%	0.2%	0.08%
KMB	D	0.1%	0.21%	0.1%
LEN	D	0.16%	0.21%	0.16%
LII	A	0.03%	0.23%	0.03%
LLY	F	0.2%	0.19%	0.19%
LPX	B	0.04%	0.26%	0.04%
MA	C	0.29%	0.24%	0.24%
MCO	B	0.07%	0.23%	0.07%
META	D	1.79%	0.24%	0.24%
MLI	C	0.03%	0.29%	0.03%
MLM	B	0.04%	0.25%	0.04%
MMM	D	0.35%	0.22%	0.22%
MOH	F	0.05%	0.2%	0.05%
MPC	D	0.4%	0.23%	0.23%
MRO	B	0.09%	0.25%	0.09%
MSFT	F	2.43%	0.23%	0.23%
MSI	B	0.07%	0.26%	0.07%
MTB	A	0.11%	0.28%	0.11%
NFLX	A	0.17%	0.28%	0.17%
NOV	C	0.02%	0.23%	0.02%
NRG	B	0.1%	0.26%	0.1%
NTAP	C	0.07%	0.23%	0.07%
NTRS	A	0.08%	0.27%	0.08%
NVDA	C	0.4%	0.29%	0.29%
NVR	D	0.08%	0.22%	0.08%
ODFL	B	0.06%	0.27%	0.06%
OKE	A	0.14%	0.26%	0.14%
ON	D	0.04%	0.22%	0.04%
ORCL	B	0.5%	0.25%	0.25%
PANW	C	0.03%	0.27%	0.03%
PAYX	C	0.06%	0.25%	0.06%
PEP	F	0.41%	0.21%	0.21%
PGR	A	0.23%	0.23%	0.23%
PH	A	0.13%	0.26%	0.13%
PHM	D	0.11%	0.21%	0.11%
PYPL	B	0.22%	0.28%	0.22%
QCOM	F	0.43%	0.22%	0.22%
REGN	F	0.1%	0.15%	0.1%
RGA	A	0.04%	0.24%	0.04%
RJF	A	0.05%	0.31%	0.05%
RL	B	0.03%	0.26%	0.03%
RMD	C	0.03%	0.21%	0.03%
ROST	C	0.07%	0.21%	0.07%
SFM	A	0.05%	0.3%	0.05%
SKX	D	0.02%	0.21%	0.02%
SM	B	0.02%	0.25%	0.02%
SNA	A	0.06%	0.29%	0.06%
SO	D	0.26%	0.22%	0.22%
SPGI	C	0.15%	0.22%	0.15%
SSNC	B	0.04%	0.23%	0.04%
SYF	B	0.34%	0.31%	0.31%
SYK	C	0.13%	0.23%	0.13%
SYY	B	0.1%	0.22%	0.1%
TDY	B	0.03%	0.26%	0.03%
TGT	F	0.38%	0.23%	0.23%
THC	D	0.07%	0.23%	0.07%
TJX	A	0.22%	0.23%	0.22%
TMUS	B	0.25%	0.27%	0.25%
TOL	B	0.06%	0.23%	0.06%
TPH	D	0.03%	0.22%	0.03%
TRGP	B	0.07%	0.29%	0.07%
TSCO	D	0.06%	0.23%	0.06%
UHS	D	0.08%	0.19%	0.08%
UNM	A	0.06%	0.29%	0.06%
URI	B	0.13%	0.26%	0.13%
V	A	0.36%	0.24%	0.24%
VRSN	F	0.01%	0.23%	0.01%
WEC	A	0.08%	0.23%	0.08%
WFC	A	1.35%	0.31%	0.31%
WMB	A	0.17%	0.28%	0.17%
WRB	A	0.03%	0.23%	0.03%
WSM	B	0.04%	0.21%	0.04%
XOM	B	1.99%	0.25%	0.25%
XYL	D	0.03%	0.21%	0.03%
ZBH	C	0.05%	0.23%	0.05%
ZTS	D	0.07%	0.21%	0.07%

FNDX Overweight 543 Positions Relative to BFOR

Symbol	Grade	Weight
BRK.A	B	2.17%
WMT	A	1.47%
BAC	A	1.3%
T	A	1.27%
CVX	A	1.25%
UNH	C	1.22%
GOOG	C	1.14%
VZ	C	1.13%
C	A	1.1%
INTC	D	0.89%
CMCSA	B	0.83%
CSCO	B	0.82%
HD	A	0.8%
GM	B	0.79%
PG	A	0.77%
CVS	D	0.68%
PFE	D	0.68%
LUMN	C	0.65%
GS	A	0.62%
AVGO	D	0.61%
ABBV	D	0.49%
PM	B	0.48%
COF	B	0.48%
CI	F	0.48%
COP	C	0.48%
MS	A	0.46%
BMY	B	0.45%
DIS	B	0.45%
LOW	D	0.43%
MRK	F	0.42%
VLO	C	0.39%
AMGN	D	0.39%
MU	D	0.38%
LMT	D	0.37%
HON	B	0.37%
MO	A	0.37%
GILD	C	0.37%
PSX	C	0.36%
ACN	C	0.36%
ELV	F	0.36%
KO	D	0.35%
UNP	C	0.35%
RTX	C	0.34%
ABT	B	0.34%
TXN	C	0.34%
MCD	D	0.34%
F	C	0.33%
LIN	D	0.33%
USB	A	0.32%
TRV	B	0.31%
DUK	C	0.3%
KR	B	0.3%
PNC	B	0.3%
TSLA	B	0.28%
BLK	C	0.28%
AIG	B	0.28%
SBUX	A	0.28%
UPS	C	0.28%
DFS	B	0.26%
MET	A	0.26%
CB	C	0.26%
BK	A	0.26%
TMO	F	0.25%
NEE	D	0.24%
KMI	A	0.23%
TFC	A	0.23%
ETN	A	0.23%
DE	A	0.23%
CSX	B	0.22%
PRU	A	0.22%
ADM	D	0.21%
NSC	B	0.21%
HPQ	B	0.21%
GD	F	0.21%
HPE	B	0.21%
MDLZ	F	0.2%
NOC	D	0.2%
TSN	B	0.2%
HCA	F	0.2%
HUM	C	0.19%
NKE	D	0.19%
CMI	A	0.19%
CNC	D	0.19%
NUE	C	0.19%
DOW	F	0.18%
EXC	C	0.17%
IP	B	0.17%
WBA	F	0.17%
EMR	A	0.17%
D	C	0.17%
DD	D	0.17%
AEP	D	0.16%
VST	B	0.16%
BBY	D	0.16%
LHX	C	0.16%
JCI	C	0.16%
MDT	D	0.16%
DHR	F	0.15%
LRCX	F	0.15%
ITW	B	0.15%
PCAR	B	0.15%
WM	A	0.15%
CRM	B	0.15%
GE	D	0.15%
LYB	F	0.14%
FCX	D	0.14%
MMC	B	0.14%
GLW	B	0.14%
SCHW	B	0.13%
TROW	B	0.13%
BX	A	0.13%
ADI	D	0.13%
AON	A	0.13%
SRE	A	0.13%
NEM	D	0.13%
CBRE	B	0.13%
FI	A	0.13%
FIS	C	0.12%
ED	D	0.12%
ETR	B	0.12%
SLB	C	0.12%
WDC	D	0.12%
CARR	D	0.12%
KKR	A	0.12%
XEL	A	0.12%
ORLY	B	0.11%
PARA	C	0.11%
MCK	B	0.11%
PEG	A	0.11%
BDX	F	0.11%
OXY	D	0.11%
PPL	B	0.11%
BA	F	0.11%
ICE	C	0.11%
INTU	C	0.11%
AMT	D	0.11%
STLD	B	0.11%
GIS	D	0.11%
EIX	B	0.1%
ALLY	C	0.1%
FOXA	B	0.1%
VTRS	A	0.1%
STT	A	0.1%
KEY	B	0.1%
WELL	A	0.1%
BG	F	0.1%
SPG	B	0.1%
CFG	B	0.1%
RF	A	0.09%
GPN	B	0.09%
SW	A	0.09%
STX	D	0.09%
FE	C	0.09%
RS	B	0.09%
BIIB	F	0.09%
CTVA	C	0.09%
PFG	D	0.09%
BSX	B	0.09%
MAR	B	0.09%
WY	D	0.09%
CCI	D	0.09%
LH	C	0.09%
AMD	F	0.09%
GEHC	F	0.09%
KHC	F	0.09%
ARW	D	0.08%
EMN	D	0.08%
HBAN	A	0.08%
USFD	A	0.08%
CHRW	C	0.08%
VTR	C	0.08%
YUM	B	0.08%
WHR	B	0.08%
ES	D	0.08%
OMC	C	0.08%
DG	F	0.08%
GWW	B	0.08%
PPG	F	0.08%
WKC	D	0.08%
DLR	B	0.08%
EQIX	A	0.08%
JLL	D	0.08%
WBD	C	0.08%
SHW	A	0.08%
K	A	0.07%
BAX	D	0.07%
OC	A	0.07%
VFC	C	0.07%
SWK	D	0.07%
CMA	A	0.07%
WTW	B	0.07%
AEE	A	0.07%
DGX	A	0.07%
EVRG	A	0.07%
STZ	D	0.07%
CAH	B	0.07%
PWR	A	0.07%
R	B	0.07%
PLD	D	0.07%
KDP	D	0.07%
X	C	0.07%
LAD	A	0.07%
PKG	A	0.07%
AVT	C	0.07%
DTE	C	0.07%
LDOS	C	0.07%
VRTX	F	0.07%
OVV	B	0.06%
M	D	0.06%
MGM	D	0.06%
CAG	D	0.06%
JEF	A	0.06%
TXT	D	0.06%
ROK	B	0.06%
BALL	D	0.06%
AZO	C	0.06%
CMS	C	0.06%
AA	B	0.06%
ZION	B	0.06%
OMF	A	0.06%
MHK	D	0.06%
LNG	B	0.06%
JBL	B	0.06%
IRM	D	0.06%
PFGC	B	0.06%
HLT	A	0.06%
CNP	B	0.06%
TT	A	0.06%
HAL	C	0.06%
FNF	B	0.06%
RSG	A	0.06%
WAB	B	0.06%
TDG	D	0.06%
KSS	F	0.06%
MOS	F	0.06%
KMX	B	0.06%
ACM	A	0.05%
VNO	B	0.05%
NI	A	0.05%
MNST	C	0.05%
VMC	B	0.05%
AFG	A	0.05%
ORI	A	0.05%
JBHT	C	0.05%
MKL	A	0.05%
NXPI	D	0.05%
DLTR	F	0.05%
MCHP	D	0.05%
IVZ	B	0.05%
IFF	D	0.05%
L	A	0.05%
JNPR	F	0.05%
AES	F	0.05%
AJG	B	0.05%
AN	C	0.05%
BXP	D	0.05%
GPC	D	0.05%
OTIS	C	0.05%
KD	B	0.05%
AVB	B	0.05%
DXC	B	0.05%
LEA	D	0.05%
EQH	B	0.05%
TDS	B	0.05%
EQR	B	0.05%
GPI	A	0.05%
DINO	D	0.05%
BWA	D	0.05%
ROP	B	0.05%
MAS	D	0.05%
J	F	0.05%
TPR	B	0.05%
AME	A	0.05%
LKQ	D	0.05%
SJM	D	0.05%
BFH	B	0.05%
PSA	D	0.05%
LNC	B	0.05%
KVUE	A	0.05%
A	D	0.05%
TAP	C	0.05%
O	D	0.04%
FBIN	D	0.04%
UBER	D	0.04%
BCC	B	0.04%
GAP	C	0.04%
TER	D	0.04%
OSK	B	0.04%
AVY	D	0.04%
AMG	B	0.04%
KEYS	A	0.04%
ZIM	C	0.04%
UFPI	B	0.04%
LVS	C	0.04%
PNR	A	0.04%
FYBR	D	0.04%
RPM	A	0.04%
HST	C	0.04%
CLX	B	0.04%
DOX	D	0.04%
CRBG	B	0.04%
EXPD	D	0.04%
SLM	A	0.04%
TMHC	B	0.04%
CCK	C	0.04%
WAT	B	0.04%
ZBRA	B	0.04%
GT	C	0.04%
ATO	A	0.04%
SWKS	F	0.04%
RHI	B	0.04%
HSIC	B	0.04%
AWK	D	0.04%
EW	C	0.04%
LNT	A	0.04%
GEN	B	0.04%
FAF	A	0.04%
MUSA	A	0.04%
BERY	B	0.04%
LPLA	A	0.04%
PVH	C	0.04%
NWSA	B	0.04%
PNW	B	0.04%
BEN	C	0.04%
AYI	B	0.04%
WCC	B	0.04%
THO	B	0.04%
KNX	B	0.04%
VRSK	A	0.04%
EVR	B	0.04%
OGN	D	0.04%
JXN	C	0.04%
MAN	D	0.04%
EQT	B	0.04%
GEV	B	0.04%
MRVL	B	0.04%
UGI	A	0.04%
CDW	F	0.04%
DELL	C	0.03%
SEE	C	0.03%
THG	A	0.03%
LSTR	D	0.03%
PRI	A	0.03%
INVH	D	0.03%
AR	B	0.03%
SCI	B	0.03%
IEX	B	0.03%
ACI	C	0.03%
MRNA	F	0.03%
GNTX	C	0.03%
AAP	C	0.03%
TRU	D	0.03%
BTU	B	0.03%
SQ	B	0.03%
RVTY	F	0.03%
BBWI	D	0.03%
KBH	D	0.03%
ILMN	D	0.03%
FLR	B	0.03%
SNX	C	0.03%
BC	C	0.03%
STE	F	0.03%
PCG	A	0.03%
ABG	B	0.03%
SNV	B	0.03%
ARE	D	0.03%
ALB	C	0.03%
SEIC	B	0.03%
MSCI	C	0.03%
KIM	A	0.03%
VOYA	B	0.03%
TTWO	A	0.03%
QRVO	F	0.03%
MTD	D	0.03%
AMCR	D	0.03%
ARMK	B	0.03%
CPB	D	0.03%
EFX	F	0.03%
DAL	C	0.03%
CAR	C	0.03%
OGE	B	0.03%
GPK	C	0.03%
HAS	D	0.03%
EXR	D	0.03%
FL	F	0.03%
RRX	B	0.03%
AGCO	D	0.03%
ESS	B	0.03%
MTH	D	0.03%
JHG	A	0.03%
CLF	F	0.03%
HII	D	0.03%
HRL	D	0.03%
SNPS	B	0.03%
NDAQ	A	0.03%
WU	D	0.03%
TRMB	B	0.03%
CIEN	B	0.03%
ULTA	F	0.03%
GNW	A	0.03%
NXST	C	0.03%
GRMN	B	0.03%
MAA	B	0.03%
CG	A	0.03%
HUN	F	0.03%
FHN	A	0.03%
CTRA	B	0.03%
EL	F	0.03%
CMC	B	0.03%
DOC	D	0.03%
OLN	D	0.03%
DPZ	C	0.03%
BAH	F	0.03%
FTV	C	0.03%
CE	F	0.03%
WSO	A	0.03%
IR	B	0.03%
CDNS	B	0.03%
PBF	D	0.03%
MTZ	B	0.03%
MKC	D	0.03%
SANM	B	0.03%
NWL	B	0.03%
HBI	B	0.03%
WLK	D	0.02%
MDU	D	0.02%
MTN	C	0.02%
ODP	F	0.02%
COHR	B	0.02%
ALV	C	0.02%
ALK	C	0.02%
ADNT	F	0.02%
FLO	D	0.02%
MPW	F	0.02%
MATX	C	0.02%
LEG	F	0.02%
BPOP	B	0.02%
CHKP	D	0.02%
TFX	F	0.02%
ARCH	B	0.02%
TKR	D	0.02%
MIDD	C	0.02%
AER	B	0.02%
NSIT	F	0.02%
KBR	F	0.02%
POR	C	0.02%
MKSI	C	0.02%
VAC	B	0.02%
TTC	D	0.02%
UHAL	D	0.02%
XRX	F	0.02%
WPC	D	0.02%
ASO	F	0.02%
GLPI	C	0.02%
WERN	C	0.02%
LW	C	0.02%
OI	C	0.02%
POST	C	0.02%
NFG	A	0.02%
ANSS	B	0.02%
ASGN	F	0.02%
SBAC	D	0.02%
NAVI	C	0.02%
NDSN	B	0.02%
WST	C	0.02%
CZR	F	0.02%
CCEP	C	0.02%
LECO	B	0.02%
ST	F	0.02%
AL	B	0.02%
MUR	D	0.02%
TPX	B	0.02%
PII	D	0.02%
STWD	C	0.02%
PAG	B	0.02%
EPAM	C	0.02%
HUBG	A	0.02%
SLG	B	0.02%
GXO	B	0.02%
CTLT	B	0.02%
PENN	C	0.02%
IDXX	F	0.02%
CPT	B	0.02%
APTV	D	0.02%
POOL	C	0.02%
ALGN	D	0.02%
NVT	B	0.02%
AVTR	F	0.02%
BECN	B	0.02%
CC	C	0.02%
CNH	C	0.02%
SUI	D	0.02%
LAMR	D	0.02%
REG	B	0.02%
PK	B	0.02%
BRX	A	0.02%
UDR	B	0.02%
VICI	C	0.02%
MTG	C	0.02%
ABM	B	0.02%
DAR	C	0.02%
BJ	A	0.02%
EHC	B	0.02%
RUSHA	C	0.02%
SAIC	F	0.02%
REZI	A	0.02%
GNRC	B	0.02%
TGNA	B	0.02%
BAP	B	0.02%
SON	D	0.02%
AXTA	A	0.02%
LUV	C	0.02%
SOLV	C	0.02%
VSH	D	0.01%
ANDE	D	0.01%
LILAK	D	0.01%
CNXC	F	0.01%
CRL	C	0.01%
ICLR	D	0.01%
WTRG	B	0.01%
MSM	C	0.01%
SPTN	D	0.01%
CHE	D	0.01%
MMS	F	0.01%
AEO	F	0.01%
CYH	F	0.01%
JAZZ	B	0.01%
BLD	D	0.01%
NOW	A	0.01%
TNL	A	0.01%
PRGO	B	0.01%
QRTEA	F	0.01%
AAL	B	0.01%
ALLE	D	0.01%
XRAY	F	0.01%
DK	C	0.01%
HTZ	C	0.01%
DAN	D	0.01%
LULU	C	0.01%
UNFI	A	0.01%
CRI	D	0.01%
CNX	A	0.01%
CPRI	F	0.01%

FNDX Underweight 210 Positions Relative to BFOR

Symbol	Grade	Weight
APP	B	-0.56%
LEU	C	-0.45%
UAL	A	-0.41%
POWL	C	-0.4%
IESC	B	-0.38%
AGX	B	-0.38%
USLM	A	-0.38%
TPL	A	-0.37%
PLTR	B	-0.37%
AXON	A	-0.36%
UPWK	B	-0.34%
PAY	B	-0.34%
STRL	B	-0.33%
RCL	A	-0.32%
VRT	B	-0.32%
AAON	B	-0.32%
PAYO	A	-0.32%
CORT	B	-0.32%
RMBS	C	-0.31%
IDCC	A	-0.31%
IBKR	A	-0.31%
AIT	A	-0.3%
PCTY	B	-0.3%
PAYC	B	-0.3%
PEGA	A	-0.3%
DOCS	C	-0.3%
TILE	B	-0.3%
NEWT	B	-0.29%
SUM	B	-0.29%
FIX	A	-0.29%
HLNE	B	-0.29%
MCB	B	-0.29%
SKWD	A	-0.29%
EXEL	B	-0.29%
CEIX	A	-0.29%
LRN	A	-0.28%
BBW	B	-0.28%
BL	B	-0.28%
QCRH	A	-0.28%
TXRH	C	-0.28%
PPC	C	-0.28%
ZM	B	-0.28%
CRS	A	-0.28%
TGTX	B	-0.28%
APOG	B	-0.28%
AX	A	-0.28%
DAKT	B	-0.27%
IBOC	A	-0.27%
UTI	A	-0.27%
MTDR	B	-0.27%
PFBC	B	-0.27%
NOG	A	-0.27%
QLYS	C	-0.27%
BY	B	-0.27%
CASH	A	-0.27%
WT	B	-0.27%
FOUR	B	-0.27%
NRP	B	-0.27%
ERII	D	-0.27%
HCKT	B	-0.27%
USAP	B	-0.27%
CSWI	A	-0.27%
MWA	B	-0.27%
FOX	A	-0.27%
AWI	A	-0.27%
IBCP	B	-0.26%
WHD	B	-0.26%
BFC	B	-0.26%
WABC	B	-0.26%
PODD	C	-0.26%
ACIW	B	-0.26%
HCI	C	-0.26%
MGY	A	-0.26%
FN	D	-0.26%
CMPO	A	-0.26%
LOPE	B	-0.26%
OZK	B	-0.26%
CUBI	C	-0.26%
PEBO	A	-0.26%
NIC	B	-0.26%
ACMR	F	-0.26%
ARLP	A	-0.26%
AMAL	B	-0.26%
CVLT	B	-0.26%
FTDR	A	-0.26%
TRN	C	-0.26%
FULT	A	-0.26%
OII	B	-0.26%
MLR	B	-0.26%
ORRF	B	-0.26%
SLVM	B	-0.25%
ANF	C	-0.25%
TW	A	-0.25%
RBA	A	-0.25%
VIRT	B	-0.25%
REVG	B	-0.25%
WLDN	D	-0.25%
YELP	C	-0.25%
FIZZ	C	-0.25%
PLMR	B	-0.25%
WTS	B	-0.25%
IPAR	B	-0.25%
BELFB	C	-0.25%
SRCE	B	-0.25%
UTHR	C	-0.25%
LAUR	A	-0.25%
WDAY	B	-0.25%
IRMD	C	-0.25%
FDS	B	-0.25%
FCF	A	-0.25%
MCRI	A	-0.25%
ADMA	B	-0.25%
MBWM	B	-0.25%
OSBC	A	-0.25%
LKFN	B	-0.25%
TCMD	A	-0.25%
CBT	C	-0.24%
XPEL	C	-0.24%
FBP	B	-0.24%
EPD	A	-0.24%
FMBH	B	-0.24%
MANH	D	-0.24%
DT	C	-0.24%
HEI	B	-0.24%
TBBK	B	-0.24%
AMPY	C	-0.24%
FSS	B	-0.24%
VEEV	C	-0.24%
PLAB	C	-0.24%
OSIS	B	-0.24%
HNI	B	-0.24%
MOD	A	-0.24%
MPLX	A	-0.24%
ET	A	-0.24%
HWKN	B	-0.24%
CPRX	C	-0.24%
WWD	B	-0.24%
SIG	B	-0.24%
CQP	B	-0.24%
STBA	B	-0.23%
TEX	D	-0.23%
DY	D	-0.23%
CHWY	B	-0.23%
NYT	C	-0.23%
NBIX	C	-0.23%
OFG	B	-0.23%
BRC	D	-0.23%
OTTR	C	-0.23%
CHDN	B	-0.23%
LNN	B	-0.23%
TRIN	A	-0.23%
SCCO	F	-0.23%
COOP	B	-0.23%
THR	B	-0.23%
BMI	B	-0.23%
KNSL	B	-0.23%
SBR	B	-0.23%
CWCO	C	-0.22%
HESM	B	-0.22%
WES	C	-0.22%
SHOO	D	-0.22%
CNA	B	-0.22%
IMMR	C	-0.22%
UFPT	B	-0.22%
MSA	D	-0.22%
NEU	C	-0.22%
RNR	C	-0.22%
KOS	F	-0.22%
ROL	B	-0.22%
YETI	C	-0.22%
WFRD	D	-0.21%
MBIN	D	-0.21%
VITL	D	-0.21%
VAL	D	-0.21%
IBP	D	-0.21%
TH	C	-0.21%
EGY	D	-0.21%
FC	F	-0.21%
COKE	C	-0.21%
MHO	D	-0.21%
AMPH	D	-0.21%
MEDP	D	-0.21%
NSSC	D	-0.21%
BMRN	D	-0.21%
VLTO	D	-0.21%
HALO	F	-0.2%
FCN	D	-0.2%
YOU	D	-0.2%
BOOT	D	-0.2%
GRBK	D	-0.2%
ONTO	D	-0.2%
DFIN	D	-0.2%
WMS	D	-0.2%
HY	D	-0.2%
PTGX	C	-0.2%
WING	D	-0.19%
COLL	F	-0.19%
DFH	D	-0.19%
INSW	F	-0.19%
LNW	D	-0.19%
HRMY	D	-0.19%
HRTG	C	-0.18%
SIGA	F	-0.18%
CRUS	D	-0.18%
CROX	D	-0.17%
LNTH	D	-0.17%
BLBD	D	-0.17%
TDW	F	-0.16%
MPWR	F	-0.15%
ASC	F	-0.15%