FNDX vs. HLAL ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to Wahed FTSE USA Shariah ETF (HLAL)

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

HLAL

Wahed FTSE USA Shariah ETF

HLAL Description

The investment seeks to track the total return performance, before fees and expenses, of the FTSE USA Shariah Index. The index is composed of common stocks of large and mid-capitalization U.S. companies the characteristics of which meet the requirements of the Shariah and are consistent with Islamic principles as interpreted by subject-matter experts. Under normal circumstances, at least 80% of its total assets will be invested in the component securities of the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$52.60

Average Daily Volume

60,755

Number of Holdings ^*

198

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	HLAL
30 Days	3.67%	2.35%
60 Days	4.58%	1.62%
90 Days	6.53%	3.31%
12 Months	29.67%	20.13%

182 Overlapping Holdings

	Symbol	Grade	Weight in FNDX	Weight in HLAL	Overlap
	A	D	0.05%	0.17%	0.05%
	AAPL	C	4.35%	14.91%	4.35%
	ABT	B	0.34%	0.9%	0.34%
	ADBE	C	0.2%	0.98%	0.2%
	ADI	D	0.13%	0.47%	0.13%
	ADM	D	0.21%	0.11%	0.11%
	ADP	B	0.15%	0.55%	0.15%
	ADSK	A	0.03%	0.3%	0.03%
	AKAM	D	0.03%	0.06%	0.03%
	ALB	C	0.03%	0.06%	0.03%
	ALGN	D	0.02%	0.08%	0.02%
	AMAT	F	0.24%	0.63%	0.24%
	AMD	F	0.09%	0.99%	0.09%
	ANSS	B	0.02%	0.13%	0.02%
	APD	A	0.13%	0.33%	0.13%
	APTV	D	0.02%	0.06%	0.02%
	ARE	D	0.03%	0.08%	0.03%
	ATO	A	0.04%	0.1%	0.04%
	BDX	F	0.11%	0.29%	0.11%
	BG	F	0.1%	0.06%	0.06%
	BIIB	F	0.09%	0.1%	0.09%
	BKR	B	0.16%	0.2%	0.16%
	BLDR	D	0.06%	0.09%	0.06%
	BSX	B	0.09%	0.6%	0.09%
	BURL	A	0.03%	0.08%	0.03%
	CAH	B	0.07%	0.13%	0.07%
	CARR	D	0.12%	0.28%	0.12%
	CDNS	B	0.03%	0.37%	0.03%
	CEG	D	0.1%	0.33%	0.1%
	CF	B	0.07%	0.07%	0.07%
	CHD	B	0.04%	0.12%	0.04%
	CMI	A	0.19%	0.22%	0.19%
	COP	C	0.48%	0.6%	0.48%
	COR	B	0.02%	0.18%	0.02%
	CRL	C	0.01%	0.04%	0.01%
	CRM	B	0.15%	1.36%	0.15%
	CSCO	B	0.82%	1.04%	0.82%
	CTAS	B	0.08%	0.34%	0.08%
	CTVA	C	0.09%	0.18%	0.09%
	CVX	A	1.25%	1.24%	1.24%
	DAL	C	0.03%	0.05%	0.03%
	DD	D	0.17%	0.15%	0.15%
	DELL	C	0.03%	0.16%	0.03%
	DGX	A	0.07%	0.08%	0.07%
	DHI	D	0.16%	0.22%	0.16%
	DHR	F	0.15%	0.67%	0.15%
	DLTR	F	0.05%	0.06%	0.05%
	DOV	A	0.06%	0.12%	0.06%
	DOW	F	0.18%	0.12%	0.12%
	DVN	F	0.09%	0.11%	0.09%
	EA	A	0.09%	0.2%	0.09%
	EBAY	D	0.17%	0.14%	0.14%
	EL	F	0.03%	0.07%	0.03%
	EMR	A	0.17%	0.33%	0.17%
	EW	C	0.04%	0.19%	0.04%
	EXPD	D	0.04%	0.08%	0.04%
	FANG	D	0.05%	0.15%	0.05%
	FAST	B	0.07%	0.21%	0.07%
	FDX	B	0.32%	0.29%	0.29%
	FFIV	B	0.03%	0.06%	0.03%
	FLEX	A	0.06%	0.07%	0.06%
	FSLR	F	0.01%	0.09%	0.01%
	FTV	C	0.03%	0.12%	0.03%
	GEHC	F	0.09%	0.17%	0.09%
	GEV	B	0.04%	0.41%	0.04%
	GLW	B	0.14%	0.16%	0.14%
	GOOG	C	1.14%	3.91%	1.14%
	GOOGL	C	1.33%	4.63%	1.33%
	GPC	D	0.05%	0.08%	0.05%
	GRMN	B	0.03%	0.14%	0.03%
	GWW	B	0.08%	0.22%	0.08%
	HAL	C	0.06%	0.12%	0.06%
	HES	B	0.06%	0.19%	0.06%
	HOLX	D	0.04%	0.08%	0.04%
	HPQ	B	0.21%	0.16%	0.16%
	HUBB	B	0.03%	0.11%	0.03%
	ICLR	D	0.01%	0.07%	0.01%
	IDXX	F	0.02%	0.15%	0.02%
	IEX	B	0.03%	0.08%	0.03%
	IFF	D	0.05%	0.1%	0.05%
	ILMN	D	0.03%	0.09%	0.03%
	INTC	D	0.89%	0.46%	0.46%
	IP	B	0.17%	0.07%	0.07%
	IPG	D	0.04%	0.05%	0.04%
	IR	B	0.03%	0.19%	0.03%
	ISRG	A	0.09%	0.85%	0.09%
	IT	C	0.03%	0.17%	0.03%
	JBHT	C	0.05%	0.07%	0.05%
	JCI	C	0.16%	0.25%	0.16%
	JNJ	D	0.89%	1.65%	0.89%
	JNPR	F	0.05%	0.05%	0.05%
	KDP	D	0.07%	0.15%	0.07%
	KLAC	D	0.08%	0.37%	0.08%
	KO	D	0.35%	1.1%	0.35%
	KVUE	A	0.05%	0.2%	0.05%
	LEN	D	0.16%	0.0%	0.0%
	LEN	D	0.16%	0.18%	0.16%
	LH	C	0.09%	0.09%	0.09%
	LIN	D	0.33%	0.97%	0.33%
	LKQ	D	0.05%	0.04%	0.04%
	LRCX	F	0.15%	0.41%	0.15%
	LULU	C	0.01%	0.17%	0.01%
	LUV	C	0.02%	0.02%	0.02%
	LYB	F	0.14%	0.1%	0.1%
	MCK	B	0.11%	0.36%	0.11%
	MDLZ	F	0.2%	0.39%	0.2%
	MDT	D	0.16%	0.49%	0.16%
	META	D	1.79%	5.55%	1.79%
	MKC	D	0.03%	0.09%	0.03%
	MLM	B	0.04%	0.16%	0.04%
	MMM	D	0.35%	0.32%	0.32%
	MPC	D	0.4%	0.25%	0.25%
	MRK	F	0.42%	1.11%	0.42%
	MRO	B	0.09%	0.07%	0.07%
	MRVL	B	0.04%	0.35%	0.04%
	MSFT	F	2.43%	13.84%	2.43%
	MU	D	0.38%	0.49%	0.38%
	NEM	D	0.13%	0.22%	0.13%
	NKE	D	0.19%	0.4%	0.19%
	NOW	A	0.01%	0.92%	0.01%
	NTAP	C	0.07%	0.11%	0.07%
	NUE	C	0.19%	0.16%	0.16%
	NWSA	B	0.04%	0.05%	0.04%
	NXPI	D	0.05%	0.25%	0.05%
	ODFL	B	0.06%	0.19%	0.06%
	OMC	C	0.08%	0.09%	0.08%
	ON	D	0.04%	0.13%	0.04%
	OXY	D	0.11%	0.15%	0.11%
	PANW	C	0.03%	0.54%	0.03%
	PCAR	B	0.15%	0.25%	0.15%
	PFE	D	0.68%	0.63%	0.63%
	PG	A	0.77%	1.81%	0.77%
	PHM	D	0.11%	0.12%	0.11%
	PKG	A	0.07%	0.1%	0.07%
	PLD	D	0.07%	0.48%	0.07%
	PNR	A	0.04%	0.08%	0.04%
	POOL	C	0.02%	0.06%	0.02%
	PPG	F	0.08%	0.13%	0.08%
	PSX	C	0.36%	0.25%	0.25%
	PWR	A	0.07%	0.22%	0.07%
	QCOM	F	0.43%	0.77%	0.43%
	QRVO	F	0.03%	0.03%	0.03%
	REG	B	0.02%	0.06%	0.02%
	REGN	F	0.1%	0.35%	0.1%
	RMD	C	0.03%	0.16%	0.03%
	ROK	B	0.06%	0.14%	0.06%
	ROP	B	0.05%	0.26%	0.05%
	ROST	C	0.07%	0.21%	0.07%
	RVTY	F	0.03%	0.06%	0.03%
	SLB	C	0.12%	0.28%	0.12%
	SNA	A	0.06%	0.08%	0.06%
	SNPS	B	0.03%	0.37%	0.03%
	STE	F	0.03%	0.09%	0.03%
	STLD	B	0.11%	0.1%	0.1%
	SWK	D	0.07%	0.06%	0.06%
	SYK	C	0.13%	0.63%	0.13%
	TER	D	0.04%	0.07%	0.04%
	TFX	F	0.02%	0.04%	0.02%
	TJX	A	0.22%	0.61%	0.22%
	TMO	F	0.25%	0.87%	0.25%
	TRMB	B	0.03%	0.08%	0.03%
	TSCO	D	0.06%	0.13%	0.06%
	TSLA	B	0.28%	4.25%	0.28%
	TT	A	0.06%	0.42%	0.06%
	TTWO	A	0.03%	0.14%	0.03%
	TXN	C	0.34%	0.81%	0.34%
	UBER	D	0.04%	0.62%	0.04%
	ULTA	F	0.03%	0.07%	0.03%
	UPS	C	0.28%	0.43%	0.28%
	VLO	C	0.39%	0.2%	0.2%
	VMC	B	0.05%	0.16%	0.05%
	WAB	B	0.06%	0.15%	0.06%
	WBA	F	0.17%	0.03%	0.03%
	WDC	D	0.12%	0.09%	0.09%
	WELL	A	0.1%	0.37%	0.1%
	WLK	D	0.02%	0.02%	0.02%
	WST	C	0.02%	0.1%	0.02%
	WY	D	0.09%	0.1%	0.09%
	XOM	B	1.99%	2.42%	1.99%
	XYL	D	0.03%	0.13%	0.03%
	ZBH	C	0.05%	0.1%	0.05%
	ZBRA	B	0.04%	0.09%	0.04%

FNDX Overweight 540 Positions Relative to HLAL

	Symbol	Grade	Weight
	BRK.A	B	2.17%
	JPM	A	2.03%
	AMZN	C	1.56%
	WMT	A	1.47%
	WFC	A	1.35%
	BAC	A	1.3%
	T	A	1.27%
	UNH	C	1.22%
	VZ	C	1.13%
	C	A	1.1%
	CMCSA	B	0.83%
	HD	A	0.8%
	GM	B	0.79%
	CVS	D	0.68%
	COST	B	0.66%
	LUMN	C	0.65%
	GS	A	0.62%
	AVGO	D	0.61%
	IBM	C	0.54%
	ORCL	B	0.5%
	ABBV	D	0.49%
	PM	B	0.48%
	COF	B	0.48%
	CI	F	0.48%
	MS	A	0.46%
	BMY	B	0.45%
	DIS	B	0.45%
	LOW	D	0.43%
	CAT	B	0.41%
	PEP	F	0.41%
	NVDA	C	0.4%
	AMGN	D	0.39%
	TGT	F	0.38%
	LMT	D	0.37%
	HON	B	0.37%
	MO	A	0.37%
	GILD	C	0.37%
	ACN	C	0.36%
	AXP	A	0.36%
	ELV	F	0.36%
	V	A	0.36%
	CHTR	C	0.35%
	UNP	C	0.35%
	RTX	C	0.34%
	SYF	B	0.34%
	MCD	D	0.34%
	F	C	0.33%
	USB	A	0.32%
	TRV	B	0.31%
	DUK	C	0.3%
	KR	B	0.3%
	PNC	B	0.3%
	MA	C	0.29%
	BLK	C	0.28%
	AIG	B	0.28%
	SBUX	A	0.28%
	ALL	A	0.27%
	DFS	B	0.26%
	MET	A	0.26%
	SO	D	0.26%
	CB	C	0.26%
	BK	A	0.26%
	TMUS	B	0.25%
	NEE	D	0.24%
	BKNG	A	0.24%
	KMI	A	0.23%
	TFC	A	0.23%
	ETN	A	0.23%
	DE	A	0.23%
	PGR	A	0.23%
	EOG	A	0.23%
	CSX	B	0.22%
	PYPL	B	0.22%
	PRU	A	0.22%
	AFL	B	0.21%
	NSC	B	0.21%
	GD	F	0.21%
	HPE	B	0.21%
	NOC	D	0.2%
	TSN	B	0.2%
	LLY	F	0.2%
	HCA	F	0.2%
	CTSH	B	0.19%
	HUM	C	0.19%
	CNC	D	0.19%
	EXC	C	0.17%
	WMB	A	0.17%
	NFLX	A	0.17%
	D	C	0.17%
	AEP	D	0.16%
	VST	B	0.16%
	BBY	D	0.16%
	LHX	C	0.16%
	AMP	A	0.15%
	SPGI	C	0.15%
	ITW	B	0.15%
	WM	A	0.15%
	GE	D	0.15%
	FCX	D	0.14%
	MMC	B	0.14%
	OKE	A	0.14%
	HIG	B	0.14%
	CL	D	0.13%
	PH	A	0.13%
	SCHW	B	0.13%
	FITB	A	0.13%
	TROW	B	0.13%
	BX	A	0.13%
	AON	A	0.13%
	SRE	A	0.13%
	CBRE	B	0.13%
	FI	A	0.13%
	URI	B	0.13%
	FIS	C	0.12%
	ED	D	0.12%
	ETR	B	0.12%
	KKR	A	0.12%
	XEL	A	0.12%
	ORLY	B	0.11%
	MTB	A	0.11%
	PARA	C	0.11%
	PEG	A	0.11%
	PPL	B	0.11%
	BA	F	0.11%
	ICE	C	0.11%
	INTU	C	0.11%
	AMT	D	0.11%
	GIS	D	0.11%
	EIX	B	0.1%
	SYY	B	0.1%
	ALLY	C	0.1%
	FOXA	B	0.1%
	KMB	D	0.1%
	VTRS	A	0.1%
	STT	A	0.1%
	KEY	B	0.1%
	NRG	B	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%
	PFG	D	0.09%
	MAR	B	0.09%
	APH	A	0.09%
	CCI	D	0.09%
	KHC	F	0.09%
	ARW	D	0.08%
	EMN	D	0.08%
	HBAN	A	0.08%
	NTRS	A	0.08%
	NVR	D	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%
	CME	A	0.08%
	UHS	D	0.08%
	DG	F	0.08%
	WEC	A	0.08%
	WKC	D	0.08%
	DLR	B	0.08%
	EQIX	A	0.08%
	ECL	D	0.08%
	JLL	D	0.08%
	WBD	C	0.08%
	SHW	A	0.08%
	K	A	0.07%
	BAX	D	0.07%
	IQV	D	0.07%
	OC	A	0.07%
	VFC	C	0.07%
	MSI	B	0.07%
	HWM	A	0.07%
	CMA	A	0.07%
	WTW	B	0.07%
	AEE	A	0.07%
	TRGP	B	0.07%
	THC	D	0.07%
	MCO	B	0.07%
	EVRG	A	0.07%
	STZ	D	0.07%
	R	B	0.07%
	CINF	A	0.07%
	X	C	0.07%
	LAD	A	0.07%
	ZTS	D	0.07%
	AVT	C	0.07%
	DTE	C	0.07%
	LDOS	C	0.07%
	VRTX	F	0.07%
	OVV	B	0.06%
	TOL	B	0.06%
	M	D	0.06%
	MGM	D	0.06%
	DVA	B	0.06%
	CPAY	A	0.06%
	CAG	D	0.06%
	JEF	A	0.06%
	TXT	D	0.06%
	BALL	D	0.06%
	UNM	A	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%
	CCL	B	0.06%
	JBL	B	0.06%
	IRM	D	0.06%
	PFGC	B	0.06%
	HLT	A	0.06%
	EME	C	0.06%
	CNP	B	0.06%
	FNF	B	0.06%
	RSG	A	0.06%
	PAYX	C	0.06%
	TDG	D	0.06%
	KSS	F	0.06%
	MOS	F	0.06%
	KMX	B	0.06%
	MOH	F	0.05%
	ACM	A	0.05%
	VNO	B	0.05%
	NI	A	0.05%
	MNST	C	0.05%
	AFG	A	0.05%
	INGR	B	0.05%
	ORI	A	0.05%
	MKL	A	0.05%
	CSL	C	0.05%
	MCHP	D	0.05%
	IVZ	B	0.05%
	L	A	0.05%
	AES	F	0.05%
	DRI	B	0.05%
	AJG	B	0.05%
	AN	C	0.05%
	BXP	D	0.05%
	OTIS	C	0.05%
	KD	B	0.05%
	AVB	B	0.05%
	DXC	B	0.05%
	ALSN	B	0.05%
	LEA	D	0.05%
	EQH	B	0.05%
	TDS	B	0.05%
	EQR	B	0.05%
	GPI	A	0.05%
	CASY	A	0.05%
	DINO	D	0.05%
	BWA	D	0.05%
	MAS	D	0.05%
	J	F	0.05%
	TPR	B	0.05%
	AME	A	0.05%
	SFM	A	0.05%
	RJF	A	0.05%
	SJM	D	0.05%
	BFH	B	0.05%
	PSA	D	0.05%
	LNC	B	0.05%
	TAP	C	0.05%
	ANET	C	0.04%
	O	D	0.04%
	FBIN	D	0.04%
	LPX	B	0.04%
	BCC	B	0.04%
	GAP	C	0.04%
	EXPE	B	0.04%
	SSNC	B	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%
	FYBR	D	0.04%
	RPM	A	0.04%
	CMG	B	0.04%
	HSY	F	0.04%
	CNO	A	0.04%
	HST	C	0.04%
	CLX	B	0.04%
	DOX	D	0.04%
	CRBG	B	0.04%
	SLM	A	0.04%
	TMHC	B	0.04%
	CCK	C	0.04%
	WAT	B	0.04%
	DKS	C	0.04%
	GT	C	0.04%
	RGA	A	0.04%
	SWKS	F	0.04%
	RHI	B	0.04%
	HSIC	B	0.04%
	AWK	D	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%
	PNW	B	0.04%
	BEN	C	0.04%
	AYI	B	0.04%
	WCC	B	0.04%
	THO	B	0.04%
	KNX	B	0.04%
	WSM	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%
	UGI	A	0.04%
	CDW	F	0.04%
	EXP	A	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%
	FMC	D	0.03%
	SCI	B	0.03%
	ACI	C	0.03%
	MRNA	F	0.03%
	ACGL	D	0.03%
	TDY	B	0.03%
	CPRT	A	0.03%
	GNTX	C	0.03%
	AAP	C	0.03%
	TRU	D	0.03%
	BTU	B	0.03%
	SQ	B	0.03%
	ITT	A	0.03%
	BBWI	D	0.03%
	KBH	D	0.03%
	CW	B	0.03%
	TPH	D	0.03%
	LII	A	0.03%
	G	B	0.03%
	GDDY	A	0.03%
	FLR	B	0.03%
	SNX	C	0.03%
	BC	C	0.03%
	APO	B	0.03%
	PCG	A	0.03%
	ABG	B	0.03%
	SNV	B	0.03%
	SEIC	B	0.03%
	MSCI	C	0.03%
	KIM	A	0.03%
	VOYA	B	0.03%
	MTD	D	0.03%
	AMCR	D	0.03%
	ARMK	B	0.03%
	CPB	D	0.03%
	AIZ	A	0.03%
	EFX	F	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%
	RL	B	0.03%
	AGCO	D	0.03%
	CACI	D	0.03%
	APA	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%
	EWBC	A	0.03%
	NDAQ	A	0.03%
	WU	D	0.03%
	CIEN	B	0.03%
	GNW	A	0.03%
	NXST	C	0.03%
	MAA	B	0.03%
	CG	A	0.03%
	HUN	F	0.03%
	FHN	A	0.03%
	CTRA	B	0.03%
	CMC	B	0.03%
	DOC	D	0.03%
	OLN	D	0.03%
	DECK	A	0.03%
	DPZ	C	0.03%
	BAH	F	0.03%
	CE	F	0.03%
	WSO	A	0.03%
	PBF	D	0.03%
	MTZ	B	0.03%
	WRB	A	0.03%
	SANM	B	0.03%
	FTNT	C	0.03%
	NWL	B	0.03%
	HBI	B	0.03%
	GL	B	0.03%
	MLI	C	0.03%
	BR	A	0.03%
	MDU	D	0.02%
	MTN	C	0.02%
	ODP	F	0.02%
	EG	C	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%
	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%
	ASGN	F	0.02%
	SBAC	D	0.02%
	NAVI	C	0.02%
	SM	B	0.02%
	NDSN	B	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%
	GGG	B	0.02%
	GXO	B	0.02%
	CTLT	B	0.02%
	PENN	C	0.02%
	JKHY	D	0.02%
	CPT	B	0.02%
	HOG	D	0.02%
	NOV	C	0.02%
	DCI	B	0.02%
	FCNCA	A	0.02%
	NVT	B	0.02%
	AVTR	F	0.02%
	AOS	F	0.02%
	BECN	B	0.02%
	SKX	D	0.02%
	CC	C	0.02%
	CNH	C	0.02%
	SUI	D	0.02%
	LAMR	D	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%
	ATR	B	0.02%
	BJ	A	0.02%
	EHC	B	0.02%
	RUSHA	C	0.02%
	SAIC	F	0.02%
	REZI	A	0.02%
	BRO	B	0.02%
	GNRC	B	0.02%
	TGNA	B	0.02%
	BAP	B	0.02%
	SON	D	0.02%
	AXTA	A	0.02%
	SOLV	C	0.02%
	VSH	D	0.01%
	ANDE	D	0.01%
	LILAK	D	0.01%
	CNXC	F	0.01%
	VRSN	F	0.01%
	DBX	B	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%
	CBOE	B	0.01%
	TNL	A	0.01%
	PRGO	B	0.01%
	QRTEA	F	0.01%
	AAL	B	0.01%
	ALLE	D	0.01%
	FTI	A	0.01%
	JWN	C	0.01%
	HRB	D	0.01%
	XRAY	F	0.01%
	DK	C	0.01%
	HTZ	C	0.01%
	DAN	D	0.01%
	UNFI	A	0.01%
	CRI	D	0.01%
	CNX	A	0.01%
	CPRI	F	0.01%

FNDX Underweight 16 Positions Relative to HLAL

	Symbol	Grade	Weight
	VRT	B	-0.22%
	AXON	A	-0.2%
	VLTO	D	-0.12%
	TYL	B	-0.11%
	PTC	A	-0.1%
	PODD	C	-0.08%
	SMCI	F	-0.06%
	ROL	B	-0.06%
	TECH	D	-0.05%
	OKTA	C	-0.05%
	BMRN	D	-0.05%
	SCCO	F	-0.04%
	UAL	A	-0.03%
	NWS	B	-0.02%
	GFS	C	-0.02%
	AGR	B	-0.01%

FNDX: Top Represented Industries & Keywords

Industries: Diversified Industrials Asset Management Utilities - Regulated Electric Business Services Oil & Gas E&P Specialty Retail Banks - Regional - US Software - Application Information Technology Services Semiconductors Diagnostics & Research Specialty Chemicals Credit Services Packaged Foods Packaging & Containers Building Materials Insurance - Property & Casualty Auto Parts Capital Markets Drug Manufacturers - Major

Keywords: S&P 500 Nasdaq 100 Natural Gas Insurance Computing Electricity Chemical Mining Aerospace Electronics Bank Dow Jones Component Banking Real Estate Investment Trust Telecommunications Semiconductor Transport Insurance Products Medicine Beverage

HLAL: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Diagnostics & Research Semiconductors Medical Devices Medical Instruments & Supplies Oil & Gas E&P Specialty Chemicals Drug Manufacturers - Major Household & Personal Products Integrated Shipping & Logistics Semiconductor Equipment & Materials Specialty Retail Airlines Apparel Stores Biotechnology Building Materials Business Services Chemicals Internet Content & Information

Keywords: S&P 500 Nasdaq 100 Computing Medicine Natural Gas Integrated Circuits Semiconductor Dow Jones Component Chemical Electronics Mining Petroleum Industry Aerospace Oil And Gas Biotechnology Building Materials Mobile Devices Plastic Transport Acid