FNDX vs. FAB ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to First Trust Multi Cap Value AlphaDEX Fund (FAB)

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

$70.49

Average Daily Volume

430,315

Number of Holdings ^*

718

* may have additional holdings in another (foreign) market

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

$83.91

Average Daily Volume

5,598

Number of Holdings ^*

660

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	FAB
30 Days	1.34%	1.64%
60 Days	2.80%	1.49%
90 Days	5.41%	7.33%
12 Months	23.82%	19.63%

340 Overlapping Holdings

Symbol	Grade	Weight in FNDX	Weight in FAB	Overlap
AAP	F	0.03%	0.03%	0.03%
ABG	F	0.02%	0.16%	0.02%
ABM	D	0.02%	0.1%	0.02%
ABT	C	0.34%	0.1%	0.1%
ACGL	B	0.05%	0.48%	0.05%
ADM	D	0.22%	0.43%	0.22%
ADNT	F	0.01%	0.1%	0.01%
AEE	B	0.07%	0.41%	0.07%
AEO	D	0.01%	0.13%	0.01%
AEP	B	0.18%	0.41%	0.18%
AFG	B	0.05%	0.05%	0.05%
AFL	B	0.23%	0.31%	0.23%
AGCO	D	0.03%	0.2%	0.03%
AIG	D	0.28%	0.35%	0.28%
AIZ	B	0.03%	0.1%	0.03%
AL	D	0.02%	0.19%	0.02%
ALK	C	0.01%	0.13%	0.01%
ALLY	F	0.1%	0.14%	0.1%
AMG	C	0.03%	0.23%	0.03%
AN	D	0.05%	0.17%	0.05%
ANDE	D	0.01%	0.09%	0.01%
APA	F	0.03%	0.14%	0.03%
APD	B	0.11%	0.19%	0.11%
APTV	D	0.04%	0.42%	0.04%
AR	D	0.02%	0.04%	0.02%
ARCH	F	0.01%	0.1%	0.01%
ARE	B	0.03%	0.18%	0.03%
ARW	C	0.08%	0.18%	0.08%
ASGN	D	0.02%	0.09%	0.02%
ASO	C	0.02%	0.23%	0.02%
ATO	B	0.04%	0.41%	0.04%
AVT	D	0.07%	0.17%	0.07%
AWK	A	0.05%	0.1%	0.05%
AYI	B	0.04%	0.09%	0.04%
BAC	D	1.22%	0.25%	0.25%
BBWI	F	0.02%	0.09%	0.02%
BBY	B	0.19%	0.3%	0.19%
BC	C	0.03%	0.14%	0.03%
BCC	C	0.03%	0.19%	0.03%
BECN	D	0.02%	0.08%	0.02%
BEN	F	0.04%	0.31%	0.04%
BERY	B	0.04%	0.14%	0.04%
BG	D	0.11%	0.4%	0.11%
BIIB	F	0.1%	0.07%	0.07%
BJ	D	0.02%	0.04%	0.02%
BKR	D	0.14%	0.24%	0.14%
BLK	A	0.26%	0.1%	0.1%
BPOP	C	0.03%	0.05%	0.03%
BRK.A	C	2.29%	0.49%	0.49%
BTU	D	0.02%	0.21%	0.02%
BWA	D	0.05%	0.17%	0.05%
C	D	1.04%	0.23%	0.23%
CACI	B	0.03%	0.05%	0.03%
CAG	B	0.07%	0.39%	0.07%
CAR	F	0.02%	0.06%	0.02%
CB	B	0.29%	0.4%	0.29%
CBRE	A	0.12%	0.11%	0.11%
CCK	A	0.04%	0.05%	0.04%
CE	D	0.06%	0.39%	0.06%
CF	B	0.06%	0.46%	0.06%
CFG	D	0.1%	0.39%	0.1%
CHK	D	0.02%	0.19%	0.02%
CHTR	D	0.32%	0.29%	0.29%
CI	C	0.55%	0.09%	0.09%
CINF	B	0.07%	0.5%	0.07%
CLF	F	0.03%	0.16%	0.03%
CMA	B	0.06%	0.1%	0.06%
CMC	D	0.03%	0.16%	0.03%
CMCSA	D	0.75%	0.44%	0.44%
CMI	C	0.17%	0.09%	0.09%
CMS	A	0.06%	0.3%	0.06%
CNC	C	0.25%	0.4%	0.25%
CNO	B	0.04%	0.12%	0.04%
CNP	C	0.06%	0.23%	0.06%
CNX	A	0.02%	0.14%	0.02%
CNXC	D	0.01%	0.23%	0.01%
COF	C	0.39%	0.35%	0.35%
COP	D	0.42%	0.39%	0.39%
CPB	B	0.04%	0.19%	0.04%
CRBG	D	0.03%	0.24%	0.03%
CRI	C	0.02%	0.11%	0.02%
CSCO	B	0.73%	0.18%	0.18%
CTRA	F	0.01%	0.37%	0.01%
CTSH	C	0.18%	0.39%	0.18%
CTVA	B	0.09%	0.09%	0.09%
CVS	D	0.68%	0.43%	0.43%
CVX	D	1.07%	0.39%	0.39%
CZR	C	0.02%	0.12%	0.02%
D	C	0.19%	0.3%	0.19%
DAN	F	0.01%	0.08%	0.01%
DAR	F	0.02%	0.2%	0.02%
DD	B	0.18%	0.09%	0.09%
DE	B	0.22%	0.27%	0.22%
DG	F	0.08%	0.05%	0.05%
DGX	B	0.07%	0.29%	0.07%
DHI	B	0.2%	0.59%	0.2%
DINO	D	0.05%	0.18%	0.05%
DK	F	0.01%	0.02%	0.01%
DKS	D	0.05%	0.08%	0.05%
DOV	B	0.06%	0.18%	0.06%
DOW	D	0.2%	0.17%	0.17%
DTE	B	0.08%	0.29%	0.08%
DUK	C	0.34%	0.3%	0.3%
DVN	F	0.08%	0.37%	0.08%
DXC	C	0.05%	0.19%	0.05%
EBAY	B	0.19%	0.41%	0.19%
ED	C	0.13%	0.41%	0.13%
EG	B	0.03%	0.44%	0.03%
EHC	B	0.02%	0.05%	0.02%
EIX	C	0.11%	0.3%	0.11%
ELV	C	0.5%	0.09%	0.09%
EMN	B	0.08%	0.13%	0.08%
EOG	D	0.2%	0.41%	0.2%
EPAM	D	0.02%	0.19%	0.02%
EQR	B	0.06%	0.29%	0.06%
EQT	D	0.03%	0.39%	0.03%
ETR	A	0.11%	0.51%	0.11%
EVRG	A	0.07%	0.2%	0.07%
EWBC	C	0.03%	0.14%	0.03%
EXC	B	0.18%	0.51%	0.18%
EXPD	B	0.02%	0.08%	0.02%
F	D	0.31%	0.37%	0.31%
FAF	B	0.04%	0.1%	0.04%
FANG	D	0.05%	0.37%	0.05%
FDX	C	0.32%	0.24%	0.24%
FE	C	0.1%	0.29%	0.1%
FHN	D	0.03%	0.13%	0.03%
FITB	B	0.13%	0.29%	0.13%
FMC	C	0.03%	0.23%	0.03%
FNF	A	0.07%	0.21%	0.07%
FOXA	B	0.09%	0.5%	0.09%
FYBR	C	0.04%	0.24%	0.04%
G	C	0.02%	0.21%	0.02%
GAP	F	0.04%	0.11%	0.04%
GD	B	0.23%	0.09%	0.09%
GIS	B	0.13%	0.3%	0.13%
GL	C	0.03%	0.16%	0.03%
GM	B	0.69%	0.44%	0.44%
GNW	B	0.03%	0.03%	0.03%
GPC	D	0.05%	0.17%	0.05%
GPI	B	0.05%	0.25%	0.05%
GPN	D	0.08%	0.5%	0.08%
GS	D	0.56%	0.18%	0.18%
GT	F	0.03%	0.09%	0.03%
GXO	D	0.02%	0.04%	0.02%
HAL	F	0.06%	0.29%	0.06%
HBAN	B	0.07%	0.38%	0.07%
HCA	B	0.25%	0.21%	0.21%
HIG	A	0.15%	0.4%	0.15%
HII	C	0.04%	0.14%	0.04%
HOG	C	0.02%	0.23%	0.02%
HPE	D	0.18%	0.35%	0.18%
HPQ	D	0.2%	0.17%	0.17%
HRL	C	0.03%	0.18%	0.03%
HSIC	C	0.04%	0.05%	0.04%
HSY	C	0.04%	0.19%	0.04%
HTZ	D	0.01%	0.1%	0.01%
HUBG	C	0.02%	0.1%	0.02%
HUM	F	0.21%	0.07%	0.07%
INTC	F	0.6%	0.16%	0.16%
IP	B	0.15%	0.05%	0.05%
IPG	C	0.04%	0.37%	0.04%
IVZ	C	0.04%	0.05%	0.04%
J	D	0.05%	0.09%	0.05%
JAZZ	D	0.01%	0.13%	0.01%
JBHT	D	0.04%	0.27%	0.04%
JBL	D	0.05%	0.24%	0.05%
JCI	B	0.15%	0.09%	0.09%
JEF	B	0.05%	0.05%	0.05%
JLL	B	0.09%	0.05%	0.05%
JNJ	B	1.0%	0.2%	0.2%
JXN	B	0.04%	0.24%	0.04%
K	A	0.07%	0.12%	0.07%
KBH	B	0.03%	0.25%	0.03%
KDP	A	0.08%	0.19%	0.08%
KEY	B	0.1%	0.2%	0.1%
KHC	C	0.11%	0.38%	0.11%
KIM	B	0.03%	0.21%	0.03%
KMB	D	0.11%	0.09%	0.09%
KMI	A	0.19%	0.37%	0.19%
KNX	C	0.04%	0.14%	0.04%
KR	B	0.3%	0.28%	0.28%
KSS	F	0.07%	0.11%	0.07%
KVUE	B	0.03%	0.11%	0.03%
L	B	0.05%	0.37%	0.05%
LAD	C	0.05%	0.23%	0.05%
LEA	D	0.05%	0.16%	0.05%
LEN	B	0.19%	0.53%	0.19%
LHX	D	0.16%	0.09%	0.09%
LILAK	D	0.01%	0.1%	0.01%
LKQ	D	0.05%	0.33%	0.05%
LMT	C	0.4%	0.21%	0.21%
LNC	D	0.05%	0.16%	0.05%
LNG	D	0.05%	0.36%	0.05%
LNT	A	0.04%	0.1%	0.04%
LOW	B	0.42%	0.2%	0.2%
LPX	B	0.03%	0.1%	0.03%
LSTR	D	0.02%	0.04%	0.02%
LUV	C	0.02%	0.26%	0.02%
LYB	F	0.16%	0.34%	0.16%
M	F	0.05%	0.1%	0.05%
MAA	B	0.04%	0.1%	0.04%
MATX	C	0.01%	0.17%	0.01%
MDLZ	B	0.23%	0.1%	0.1%
MDT	C	0.27%	0.2%	0.2%
MDU	B	0.02%	0.18%	0.02%
MIDD	C	0.02%	0.09%	0.02%
MKC	B	0.04%	0.1%	0.04%
MKL	C	0.04%	0.43%	0.04%
MLI	B	0.03%	0.16%	0.03%
MMS	D	0.01%	0.04%	0.01%
MOH	C	0.05%	0.21%	0.05%
MOS	F	0.05%	0.19%	0.05%
MPC	D	0.41%	0.41%	0.41%
MS	D	0.35%	0.17%	0.17%
MTB	B	0.09%	0.38%	0.09%
MTG	B	0.03%	0.25%	0.03%
MTH	B	0.04%	0.26%	0.04%
MUR	D	0.02%	0.18%	0.02%
NAVI	C	0.02%	0.11%	0.02%
NEE	B	0.29%	0.21%	0.21%
NFG	B	0.02%	0.19%	0.02%
NI	B	0.05%	0.15%	0.05%
NKE	D	0.18%	0.09%	0.09%
NOV	D	0.02%	0.18%	0.02%
NRG	C	0.11%	0.13%	0.11%
NUE	F	0.18%	0.39%	0.18%
NXST	D	0.03%	0.13%	0.03%
OC	C	0.06%	0.33%	0.06%
ODP	F	0.01%	0.07%	0.01%
OGE	B	0.03%	0.15%	0.03%
OGN	D	0.07%	0.17%	0.07%
OI	D	0.02%	0.08%	0.02%
OKE	B	0.13%	0.19%	0.13%
OLN	D	0.03%	0.12%	0.03%
OMC	A	0.08%	0.19%	0.08%
OMF	C	0.05%	0.12%	0.05%
ORI	A	0.05%	0.1%	0.05%
OSK	D	0.03%	0.16%	0.03%
OVV	D	0.04%	0.18%	0.04%
OXY	F	0.11%	0.35%	0.11%
PAG	D	0.02%	0.13%	0.02%
PARA	F	0.09%	0.04%	0.04%
PBF	F	0.03%	0.15%	0.03%
PCG	C	0.03%	0.4%	0.03%
PEG	B	0.11%	0.2%	0.11%
PFG	B	0.08%	0.09%	0.08%
PII	D	0.02%	0.13%	0.02%
PKG	B	0.07%	0.2%	0.07%
PNC	B	0.29%	0.2%	0.2%
PNW	B	0.04%	0.2%	0.04%
POOL	C	0.02%	0.1%	0.02%
POR	B	0.02%	0.19%	0.02%
PPG	C	0.08%	0.17%	0.08%
PRGO	D	0.02%	0.09%	0.02%
PRU	C	0.23%	0.08%	0.08%
PSX	D	0.36%	0.39%	0.36%
PVH	F	0.04%	0.19%	0.04%
PYPL	B	0.19%	0.21%	0.19%
QCOM	D	0.47%	0.07%	0.07%
R	B	0.06%	0.19%	0.06%
REGN	C	0.16%	0.09%	0.09%
REZI	D	0.02%	0.09%	0.02%
RF	B	0.08%	0.28%	0.08%
RGA	B	0.04%	0.04%	0.04%
RHI	D	0.03%	0.04%	0.03%
RJF	C	0.04%	0.08%	0.04%
RS	D	0.08%	0.34%	0.08%
RUSHA	C	0.02%	0.25%	0.02%
SAIC	C	0.03%	0.1%	0.03%
SANM	D	0.03%	0.13%	0.03%
SEE	D	0.02%	0.04%	0.02%
SEIC	B	0.02%	0.09%	0.02%
SJM	C	0.06%	0.38%	0.06%
SKX	C	0.03%	0.08%	0.03%
SLM	C	0.04%	0.09%	0.04%
SM	D	0.02%	0.19%	0.02%
SNA	B	0.04%	0.37%	0.04%
SNV	C	0.02%	0.05%	0.02%
SNX	D	0.02%	0.08%	0.02%
SON	C	0.03%	0.14%	0.03%
SRE	B	0.12%	0.28%	0.12%
SSNC	B	0.04%	0.21%	0.04%
STLD	D	0.09%	0.37%	0.09%
STT	A	0.09%	0.29%	0.09%
SWKS	F	0.05%	0.24%	0.05%
SYF	C	0.27%	0.43%	0.27%
SYY	D	0.1%	0.09%	0.09%
T	B	1.37%	0.5%	0.5%
TAP	C	0.05%	0.23%	0.05%
TDY	C	0.02%	0.28%	0.02%
TEL	D	0.11%	0.25%	0.11%
TFX	C	0.02%	0.05%	0.02%
TGNA	C	0.02%	0.12%	0.02%
TGT	C	0.37%	0.18%	0.18%
THC	B	0.08%	0.21%	0.08%
THO	D	0.04%	0.14%	0.04%
TKR	D	0.02%	0.13%	0.02%
TMHC	B	0.04%	0.25%	0.04%
TPH	C	0.03%	0.2%	0.03%
TRGP	B	0.06%	0.1%	0.06%
TROW	D	0.11%	0.32%	0.11%
TRV	B	0.3%	0.2%	0.2%
TSCO	C	0.06%	0.09%	0.06%
TSN	C	0.2%	0.09%	0.09%
TXT	D	0.06%	0.26%	0.06%
UFPI	C	0.03%	0.14%	0.03%
UGI	C	0.04%	0.09%	0.04%
UHAL	B	0.02%	0.39%	0.02%
UHS	B	0.1%	0.22%	0.1%
UNM	B	0.05%	0.18%	0.05%
UPS	D	0.25%	0.16%	0.16%
USB	B	0.3%	0.28%	0.28%
USFD	B	0.07%	0.05%	0.05%
VAC	F	0.01%	0.06%	0.01%
VLO	D	0.38%	0.38%	0.38%
VNO	B	0.05%	0.06%	0.05%
VOYA	A	0.03%	0.05%	0.03%
VSH	D	0.01%	0.1%	0.01%
VTR	C	0.09%	0.11%	0.09%
VTRS	C	0.1%	0.39%	0.1%
VZ	B	1.32%	0.37%	0.37%
WBD	D	0.06%	0.36%	0.06%
WCC	C	0.03%	0.13%	0.03%
WEC	B	0.08%	0.31%	0.08%
WERN	D	0.02%	0.1%	0.02%
WFC	D	1.06%	0.3%	0.3%
WHR	D	0.06%	0.08%	0.06%
WLK	D	0.02%	0.08%	0.02%
WMT	B	1.51%	0.1%	0.1%
WPC	B	0.02%	0.29%	0.02%
WRB	C	0.04%	0.19%	0.04%
WTRG	D	0.01%	0.09%	0.01%
WU	D	0.04%	0.13%	0.04%
WY	C	0.09%	0.19%	0.09%
XEL	A	0.12%	0.42%	0.12%
XOM	D	1.92%	0.34%	0.34%
XRX	F	0.02%	0.02%	0.02%
ZBH	F	0.05%	0.25%	0.05%
ZION	D	0.05%	0.09%	0.05%

FNDX Overweight 378 Positions Relative to FAB

Symbol	Grade	Weight
AAPL	D	4.51%
MSFT	C	2.54%
JPM	D	1.94%
META	A	1.85%
AMZN	C	1.42%
UNH	C	1.25%
GOOGL	D	1.22%
GOOG	D	1.06%
PG	C	0.84%
HD	B	0.78%
PFE	C	0.75%
COST	C	0.73%
AVGO	C	0.68%
IBM	B	0.61%
ABBV	C	0.6%
LUMN	C	0.57%
PM	C	0.51%
MRK	D	0.51%
AMGN	B	0.48%
ORCL	B	0.47%
PEP	C	0.45%
KO	B	0.43%
UNP	B	0.4%
MMM	B	0.4%
MO	C	0.39%
CAT	C	0.39%
NVDA	D	0.38%
RTX	C	0.37%
AXP	B	0.37%
DIS	D	0.37%
V	B	0.35%
GILD	B	0.35%
BMY	C	0.35%
LIN	B	0.35%
MU	F	0.35%
ACN	C	0.34%
MCD	C	0.34%
HON	D	0.34%
TXN	C	0.34%
SO	B	0.29%
ALL	A	0.29%
TMO	C	0.29%
MA	B	0.28%
LLY	C	0.27%
SBUX	C	0.27%
MET	A	0.26%
PGR	A	0.26%
BK	A	0.26%
AMAT	D	0.25%
TMUS	C	0.24%
TJX	C	0.24%
ADBE	D	0.22%
TFC	D	0.22%
NSC	C	0.21%
DFS	C	0.21%
CSX	D	0.21%
ETN	C	0.21%
NOC	B	0.21%
BKNG	B	0.2%
TSLA	C	0.19%
NEM	B	0.19%
GE	B	0.18%
DHR	B	0.17%
LRCX	F	0.16%
CL	C	0.16%
ITW	B	0.15%
ADP	B	0.15%
EMR	D	0.15%
WMB	B	0.15%
NFLX	B	0.15%
MMC	C	0.15%
SPGI	B	0.15%
WM	D	0.15%
WBA	F	0.14%
GLW	B	0.14%
BA	F	0.14%
AMT	C	0.14%
AON	B	0.13%
ICE	B	0.13%
PCAR	D	0.13%
PHM	B	0.13%
SYK	C	0.13%
CARR	B	0.13%
FIS	B	0.13%
ADI	D	0.13%
WDC	D	0.13%
FCX	D	0.13%
PH	B	0.12%
CRM	D	0.12%
AMP	B	0.12%
URI	B	0.12%
INTU	D	0.11%
SW	B	0.11%
SPG	B	0.11%
CCI	B	0.11%
SLB	F	0.11%
WELL	B	0.11%
BDX	F	0.11%
BX	B	0.11%
KKR	B	0.11%
VST	C	0.11%
PPL	C	0.11%
MCK	F	0.1%
KLAC	D	0.1%
CEG	C	0.1%
STX	D	0.1%
SCHW	D	0.1%
ORLY	B	0.1%
BAX	C	0.09%
APH	D	0.09%
TT	B	0.09%
ISRG	C	0.09%
ES	C	0.09%
SHW	B	0.09%
CTAS	C	0.09%
ECL	B	0.09%
BSX	B	0.09%
AMD	F	0.09%
STZ	C	0.08%
IRM	B	0.08%
LDOS	C	0.08%
NXPI	D	0.08%
VRTX	D	0.08%
TDG	B	0.08%
MCO	A	0.08%
MRO	D	0.08%
MAR	C	0.08%
DLR	B	0.08%
CME	C	0.08%
YUM	D	0.08%
NTAP	D	0.08%
NVR	B	0.08%
SWK	B	0.08%
ZTS	B	0.08%
PLD	C	0.08%
ROST	C	0.08%
IQV	C	0.08%
EA	D	0.08%
EQIX	B	0.08%
KMX	D	0.07%
FAST	C	0.07%
DVA	B	0.07%
NTRS	B	0.07%
WTW	B	0.07%
RSG	D	0.07%
GEHC	C	0.07%
CAH	C	0.07%
CHRW	B	0.07%
MHK	B	0.07%
X	D	0.07%
GWW	B	0.07%
AVB	B	0.06%
EME	B	0.06%
CDW	D	0.06%
MAS	B	0.06%
TOL	B	0.06%
HLT	B	0.06%
WAB	A	0.06%
VFC	C	0.06%
A	C	0.06%
IFF	B	0.06%
PAYX	C	0.06%
AZO	D	0.06%
PSA	B	0.06%
HWM	B	0.06%
AES	C	0.06%
BALL	C	0.06%
PWR	B	0.06%
MSI	C	0.06%
GRMN	D	0.05%
AA	D	0.05%
EQH	C	0.05%
INGR	A	0.05%
DRI	C	0.05%
AME	C	0.05%
SIRI	C	0.05%
GEV	B	0.05%
TER	D	0.05%
SFM	B	0.05%
CSL	C	0.05%
ODFL	C	0.05%
MUSA	C	0.05%
KD	D	0.05%
OTIS	D	0.05%
CCL	C	0.05%
QRVO	F	0.05%
MAN	C	0.05%
CPAY	B	0.05%
PFGC	B	0.05%
ROK	D	0.05%
WSM	C	0.05%
MGM	D	0.05%
ROP	C	0.05%
AJG	C	0.05%
MCHP	D	0.05%
FLEX	C	0.05%
BXP	B	0.05%
CASY	D	0.05%
JNPR	A	0.05%
ZBRA	B	0.04%
ESS	B	0.04%
BR	D	0.04%
HAS	B	0.04%
RPM	B	0.04%
MTD	D	0.04%
DPZ	F	0.04%
PNR	B	0.04%
ANET	B	0.04%
UBER	C	0.04%
WAT	C	0.04%
BAH	B	0.04%
CMG	C	0.04%
BAP	A	0.04%
MRVL	C	0.04%
EL	F	0.04%
EW	F	0.04%
EFX	C	0.04%
ON	D	0.04%
XYL	D	0.04%
BLDR	C	0.04%
EXR	B	0.04%
TPR	C	0.04%
RMD	C	0.04%
MRNA	F	0.04%
HST	D	0.04%
DOX	C	0.04%
CLX	C	0.04%
MNST	C	0.04%
EVR	B	0.04%
DOC	C	0.04%
SOLV	C	0.04%
NWSA	D	0.04%
VMC	D	0.04%
MLM	D	0.04%
AVY	D	0.04%
CHD	C	0.04%
VRSK	D	0.04%
O	B	0.04%
ACM	B	0.04%
ALSN	B	0.04%
ZIM	C	0.04%
HOLX	B	0.04%
HES	D	0.04%
DLTR	F	0.04%
TDS	C	0.04%
AOS	C	0.03%
BRO	C	0.03%
REG	C	0.03%
CG	C	0.03%
ITT	C	0.03%
CPRI	D	0.03%
IDXX	C	0.03%
GDDY	C	0.03%
CW	B	0.03%
CIEN	C	0.03%
TRMB	C	0.03%
FLR	D	0.03%
ILMN	C	0.03%
UDR	B	0.03%
GNTX	F	0.03%
SCI	B	0.03%
LPLA	D	0.03%
AVTR	B	0.03%
FTNT	C	0.03%
SUI	B	0.03%
JHG	B	0.03%
AER	C	0.03%
SWN	D	0.03%
RRX	C	0.03%
EXPE	C	0.03%
MSCI	C	0.03%
NWL	D	0.03%
TRU	B	0.03%
ULTA	D	0.03%
RL	B	0.03%
INVH	C	0.03%
SNPS	D	0.03%
CHKP	C	0.03%
IR	C	0.03%
SLG	B	0.03%
LVS	D	0.03%
LII	B	0.03%
ADSK	B	0.03%
CDNS	D	0.03%
FFIV	A	0.03%
APO	C	0.03%
MTZ	B	0.03%
ARMK	B	0.03%
DECK	C	0.03%
PANW	D	0.03%
NDAQ	B	0.03%
STE	C	0.03%
CCEP	B	0.03%
BURL	B	0.03%
FTV	C	0.03%
HBI	B	0.03%
KEYS	C	0.03%
WSO	C	0.03%
IT	B	0.03%
GPK	B	0.03%
HUBB	B	0.03%
FL	D	0.03%
CNH	C	0.03%
HUN	D	0.03%
AKAM	D	0.03%
WST	D	0.02%
UNFI	C	0.02%
CBOE	C	0.02%
FTI	D	0.02%
AMCR	C	0.02%
LECO	F	0.02%
ICLR	D	0.02%
CC	F	0.02%
LULU	D	0.02%
XRAY	D	0.02%
PENN	D	0.02%
FLO	C	0.02%
MKSI	F	0.02%
SQ	D	0.02%
CYH	B	0.02%
ANSS	F	0.02%
TTC	D	0.02%
KBR	D	0.02%
ALLE	B	0.02%
FSLR	C	0.02%
FCNCA	D	0.02%
ACI	F	0.02%
GNRC	D	0.02%
TPX	C	0.02%
JWN	B	0.02%
GGG	C	0.02%
ALB	F	0.02%
NDSN	C	0.02%
NVT	D	0.02%
HRB	C	0.02%
ALGN	D	0.02%
QRTEA	F	0.02%
ST	D	0.02%
DCI	D	0.02%
DAL	C	0.02%
GLPI	B	0.02%
MPW	C	0.02%
SBAC	C	0.02%
STWD	A	0.02%
POST	C	0.02%
AXTA	C	0.02%
ATR	B	0.02%
IEX	D	0.02%
JKHY	B	0.02%
CTLT	B	0.02%
CPRT	D	0.02%
PK	D	0.02%
PRI	B	0.02%
EXP	B	0.02%
CPT	B	0.02%
NSIT	C	0.02%
VICI	C	0.02%
BRX	B	0.02%
ALV	F	0.02%
THG	A	0.02%
TTWO	D	0.02%
LAMR	A	0.02%
COHR	B	0.01%
DELL	D	0.01%
DBX	D	0.01%
CRL	D	0.01%
VRSN	D	0.01%
MSM	D	0.01%
CHE	C	0.01%
LW	D	0.01%
TNL	D	0.01%
MTN	D	0.01%
BLD	D	0.01%
LEG	D	0.01%
SPTN	C	0.01%
NOW	A	0.01%
BIG	F	0.0%
AAL	D	0.0%

FNDX Underweight 320 Positions Relative to FAB

Symbol	Grade	Weight
UAL	B	-0.45%
ZM	C	-0.29%
MHO	B	-0.28%
INCY	C	-0.27%
RNR	B	-0.25%
RDN	B	-0.24%
ESNT	B	-0.24%
LBRDK	D	-0.24%
ESGR	D	-0.23%
AGO	C	-0.22%
SIG	C	-0.21%
SEB	C	-0.21%
KRC	B	-0.2%
LBRT	D	-0.2%
NOG	D	-0.2%
TEX	D	-0.2%
VLY	C	-0.2%
WTM	F	-0.2%
COLB	B	-0.2%
CADE	B	-0.19%
BYD	C	-0.19%
BKH	B	-0.19%
COOP	B	-0.19%
OGS	B	-0.19%
MTDR	D	-0.18%
GMS	C	-0.18%
HP	D	-0.18%
PTEN	F	-0.17%
OZK	D	-0.17%
CVI	F	-0.17%
WBS	C	-0.17%
ADTN	F	-0.16%
MGY	C	-0.16%
PRG	B	-0.16%
WAL	B	-0.16%
CUZ	B	-0.16%
NMIH	B	-0.15%
URBN	D	-0.15%
INVA	B	-0.15%
PNFP	B	-0.15%
CCS	B	-0.15%
HE	F	-0.15%
WTFC	B	-0.14%
AVA	B	-0.14%
NWN	B	-0.14%
UAA	C	-0.14%
CHRD	F	-0.14%
ONB	C	-0.14%
NWE	A	-0.14%
EIG	B	-0.14%
UTHR	C	-0.14%
AGNC	A	-0.14%
AXS	B	-0.14%
EBC	B	-0.14%
PHIN	B	-0.14%
BNL	B	-0.14%
BZH	B	-0.14%
HPP	D	-0.13%
VAL	F	-0.13%
GDEN	D	-0.13%
FNB	D	-0.13%
GEF	D	-0.13%
IMKTA	D	-0.13%
SPB	B	-0.13%
UVV	D	-0.13%
GHC	C	-0.13%
SR	B	-0.13%
ATSG	D	-0.13%
WMK	C	-0.13%
LZB	C	-0.13%
RYI	F	-0.12%
SBH	B	-0.12%
INDB	C	-0.12%
RC	D	-0.12%
RLJ	D	-0.12%
ASH	D	-0.12%
AAT	B	-0.12%
FCF	C	-0.12%
BKU	C	-0.12%
LGIH	C	-0.12%
NX	D	-0.12%
EFSC	B	-0.12%
STBA	B	-0.12%
CXW	F	-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	C	-0.11%
DNOW	D	-0.11%
REVG	C	-0.11%
OCFC	B	-0.11%
CATY	B	-0.11%
ATKR	F	-0.11%
SCHL	D	-0.11%
FFBC	C	-0.11%
RRC	D	-0.11%
SNDR	B	-0.11%
CALM	B	-0.11%
GES	F	-0.11%
CABO	F	-0.11%
JBT	D	-0.11%
BOKF	B	-0.1%
HOMB	B	-0.1%
IDA	B	-0.1%
UBSI	B	-0.1%
ABR	B	-0.1%
CENTA	D	-0.1%
DDS	D	-0.1%
REYN	C	-0.1%
PEBO	C	-0.1%
SAH	D	-0.1%
IPGP	F	-0.1%
USM	C	-0.1%
WGO	D	-0.1%
PB	B	-0.1%
PRDO	D	-0.1%
ABCB	B	-0.1%
SLGN	B	-0.1%
PFBC	C	-0.1%
ALGT	F	-0.1%
IBOC	C	-0.1%
SSB	B	-0.1%
AMN	F	-0.09%
SFNC	B	-0.09%
SWX	C	-0.09%
MSGE	B	-0.09%
PDCO	F	-0.09%
HWC	D	-0.09%
TOWN	B	-0.09%
PATK	B	-0.09%
LGND	C	-0.09%
COLM	B	-0.09%
TALO	F	-0.09%
EPC	F	-0.09%
PARR	F	-0.09%
CRC	C	-0.09%
DTM	B	-0.09%
VSCO	C	-0.09%
MATW	F	-0.09%
RYN	C	-0.09%
CRK	D	-0.09%
NJR	B	-0.09%
SASR	B	-0.09%
IAC	C	-0.09%
FBNC	B	-0.09%
CROX	C	-0.08%
JELD	D	-0.08%
NBHC	C	-0.08%
FHI	A	-0.08%
RNST	D	-0.08%
EQC	B	-0.08%
HGV	D	-0.08%
BXC	D	-0.08%
FIBK	B	-0.08%
KMT	B	-0.08%
CENX	D	-0.08%
OMI	D	-0.08%
SJW	C	-0.08%
OMCL	C	-0.08%
WSBC	D	-0.08%
AX	D	-0.08%
WSFS	C	-0.08%
UNF	B	-0.08%
SLVM	B	-0.08%
FHB	C	-0.08%
MCRI	B	-0.08%
CTOS	F	-0.08%
ENS	C	-0.08%
HOPE	B	-0.08%
PNM	B	-0.08%
BANR	B	-0.08%
NWBI	C	-0.08%
BKE	B	-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%
ARCB	D	-0.07%
KOS	F	-0.07%
HTLD	D	-0.07%
ECVT	F	-0.07%
KN	D	-0.07%
NMRK	B	-0.07%
MLKN	D	-0.07%
CHGG	F	-0.07%
ICUI	B	-0.07%
APOG	B	-0.07%
CNXN	B	-0.06%
SBCF	C	-0.06%
TCBI	B	-0.06%
UCBI	B	-0.06%
CSGS	C	-0.06%
DFIN	B	-0.06%
AUB	C	-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%
SKY	B	-0.06%
GTY	B	-0.06%
PLUS	B	-0.06%
HELE	D	-0.06%
WAFD	B	-0.06%
DORM	B	-0.06%
DEI	B	-0.06%
DIOD	F	-0.06%
MODG	F	-0.06%
ROIC	B	-0.06%
ZD	D	-0.06%
CBRL	D	-0.06%
CMCO	F	-0.06%
VRTS	D	-0.06%
AMKR	F	-0.06%
GEO	F	-0.06%
SHEN	F	-0.05%
CRUS	D	-0.05%
AVNT	B	-0.05%
XHR	C	-0.05%
BXMT	C	-0.05%
LNN	C	-0.05%
EAT	B	-0.05%
PTVE	D	-0.05%
NVST	D	-0.05%
HLI	B	-0.05%
TRS	D	-0.05%
PCH	C	-0.05%
MAT	C	-0.05%
CVBF	C	-0.05%
HTH	C	-0.05%
FULT	C	-0.05%
HLF	F	-0.05%
SNEX	C	-0.05%
TRMK	C	-0.05%
TCBK	C	-0.05%
PBH	B	-0.05%
BUSE	C	-0.05%
PSMT	B	-0.05%
BDC	B	-0.05%
VCTR	B	-0.05%
SRCE	C	-0.05%
PRIM	C	-0.05%
SAFT	C	-0.05%
MCY	C	-0.05%
LCII	C	-0.05%
OEC	F	-0.05%
DEA	B	-0.05%
CWT	C	-0.05%
FOXF	F	-0.04%
KALU	F	-0.04%
LANC	D	-0.04%
CACC	D	-0.04%
KWR	D	-0.04%
LFUS	D	-0.04%
BLMN	F	-0.04%
SIGI	C	-0.04%
STRA	D	-0.04%
KEX	C	-0.04%
BHF	D	-0.04%
SEM	D	-0.04%
NEOG	C	-0.04%
MTX	D	-0.04%
SUM	C	-0.04%
PCRX	F	-0.04%
FUL	D	-0.04%
KFY	B	-0.03%
HMN	C	-0.03%
SHOO	B	-0.03%
WD	B	-0.03%
PGRE	C	-0.03%
FBP	C	-0.03%
LXP	B	-0.03%
NNI	B	-0.03%
MWA	C	-0.03%
ADUS	B	-0.03%
HNI	B	-0.03%
BHLB	C	-0.03%
THS	C	-0.03%
NBTB	D	-0.03%
CWEN	B	-0.03%
STC	B	-0.03%
FBK	B	-0.03%
JBGS	B	-0.03%
BOOT	B	-0.03%
VSAT	F	-0.03%
BMBL	F	-0.03%
CBU	C	-0.03%
PLXS	B	-0.03%
CVCO	B	-0.03%
PFS	B	-0.03%
FDP	B	-0.03%
LTH	B	-0.03%
HI	F	-0.02%
GO	F	-0.02%
ROG	D	-0.02%
OXM	D	-0.02%
SCL	D	-0.02%
CTS	D	-0.02%
CAKE	C	-0.02%
THRM	D	-0.02%
WOR	F	-0.02%
ENOV	F	-0.02%
OII	D	-0.02%
ASB	D	-0.02%
NVEE	F	-0.02%
CMTG	F	-0.02%
APAM	C	-0.02%
KFRC	D	-0.02%
AIN	D	-0.02%
ATUS	C	-0.02%
PPBI	D	-0.02%
IART	F	-0.01%