FNDX vs. ILCG ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to iShares Morningstar Growth ETF (ILCG)

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

ILCG

iShares Morningstar Growth ETF

ILCG Description

The investment seeks to track the investment results of the Morningstar US Large-Mid Cap Broad Growth IndexSM composed of large- and mid-capitalization U.S. equities that exhibit growth 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. The underlying index measures the performance of stocks issued by large- mid capitalization companies that have exhibited above-average “growth” characteristics as determined by Morningstar, Inc. (Morningstar” or the index provider) proprietary index methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$89.27

Average Daily Volume

68,984

Number of Holdings ^*

387

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	ILCG
30 Days	3.67%	4.86%
60 Days	4.58%	6.65%
90 Days	6.53%	8.35%
12 Months	29.67%	37.30%

295 Overlapping Holdings

	Symbol	Grade	Weight in FNDX	Weight in ILCG	Overlap
	A	D	0.05%	0.14%	0.05%
	AAPL	C	4.35%	6.31%	4.35%
	ACGL	D	0.03%	0.04%	0.03%
	ACM	A	0.05%	0.04%	0.04%
	ACN	C	0.36%	0.12%	0.12%
	ADBE	C	0.2%	0.85%	0.2%
	ADI	D	0.13%	0.07%	0.07%
	ADP	B	0.15%	0.17%	0.15%
	ADSK	A	0.03%	0.25%	0.03%
	AFG	A	0.05%	0.02%	0.02%
	AJG	B	0.05%	0.08%	0.05%
	AKAM	D	0.03%	0.02%	0.02%
	ALB	C	0.03%	0.03%	0.03%
	ALGN	D	0.02%	0.04%	0.02%
	ALL	A	0.27%	0.08%	0.08%
	ALLE	D	0.01%	0.03%	0.01%
	AMAT	F	0.24%	0.21%	0.21%
	AMD	F	0.09%	0.87%	0.09%
	AME	A	0.05%	0.17%	0.05%
	AMP	A	0.15%	0.14%	0.14%
	AMZN	C	1.56%	7.48%	1.56%
	ANET	C	0.04%	0.37%	0.04%
	ANSS	B	0.02%	0.11%	0.02%
	AON	A	0.13%	0.08%	0.08%
	AOS	F	0.02%	0.02%	0.02%
	APH	A	0.09%	0.18%	0.09%
	APO	B	0.03%	0.07%	0.03%
	APTV	D	0.02%	0.02%	0.02%
	ARE	D	0.03%	0.02%	0.02%
	AVB	B	0.05%	0.06%	0.05%
	AVGO	D	0.61%	1.63%	0.61%
	AVTR	F	0.02%	0.03%	0.02%
	AVY	D	0.04%	0.03%	0.03%
	AWK	D	0.04%	0.05%	0.04%
	AXP	A	0.36%	0.21%	0.21%
	AZO	C	0.06%	0.2%	0.06%
	BAH	F	0.03%	0.05%	0.03%
	BALL	D	0.06%	0.04%	0.04%
	BJ	A	0.02%	0.02%	0.02%
	BKNG	A	0.24%	0.22%	0.22%
	BKR	B	0.16%	0.08%	0.08%
	BLD	D	0.01%	0.03%	0.01%
	BLDR	D	0.06%	0.04%	0.04%
	BR	A	0.03%	0.1%	0.03%
	BRO	B	0.02%	0.1%	0.02%
	BSX	B	0.09%	0.24%	0.09%
	BURL	A	0.03%	0.07%	0.03%
	BX	A	0.13%	0.24%	0.13%
	CARR	D	0.12%	0.14%	0.12%
	CASY	A	0.05%	0.04%	0.04%
	CAT	B	0.41%	0.17%	0.17%
	CBRE	B	0.13%	0.1%	0.1%
	CCK	C	0.04%	0.02%	0.02%
	CDNS	B	0.03%	0.31%	0.03%
	CDW	F	0.04%	0.09%	0.04%
	CE	F	0.03%	0.02%	0.02%
	CHD	B	0.04%	0.11%	0.04%
	CINF	A	0.07%	0.03%	0.03%
	CL	D	0.13%	0.09%	0.09%
	CLX	B	0.04%	0.05%	0.04%
	CMG	B	0.04%	0.31%	0.04%
	CMI	A	0.19%	0.13%	0.13%
	CMS	C	0.06%	0.03%	0.03%
	COR	B	0.02%	0.09%	0.02%
	COST	B	0.66%	0.74%	0.66%
	CPAY	A	0.06%	0.07%	0.06%
	CPRT	A	0.03%	0.19%	0.03%
	CPT	B	0.02%	0.02%	0.02%
	CRL	C	0.01%	0.02%	0.01%
	CRM	B	0.15%	1.16%	0.15%
	CSL	C	0.05%	0.08%	0.05%
	CTAS	B	0.08%	0.29%	0.08%
	CTRA	B	0.03%	0.03%	0.03%
	CTVA	C	0.09%	0.07%	0.07%
	D	C	0.17%	0.08%	0.08%
	DAL	C	0.03%	0.07%	0.03%
	DD	D	0.17%	0.06%	0.06%
	DECK	A	0.03%	0.11%	0.03%
	DELL	C	0.03%	0.06%	0.03%
	DFS	B	0.26%	0.09%	0.09%
	DIS	B	0.45%	0.23%	0.23%
	DKS	C	0.04%	0.02%	0.02%
	DLR	B	0.08%	0.17%	0.08%
	DLTR	F	0.05%	0.02%	0.02%
	DOV	A	0.06%	0.07%	0.06%
	DOW	F	0.18%	0.05%	0.05%
	DPZ	C	0.03%	0.06%	0.03%
	DRI	B	0.05%	0.04%	0.04%
	DVA	B	0.06%	0.01%	0.01%
	EA	A	0.09%	0.11%	0.09%
	EBAY	D	0.17%	0.04%	0.04%
	ECL	D	0.08%	0.13%	0.08%
	EFX	F	0.03%	0.12%	0.03%
	EL	F	0.03%	0.06%	0.03%
	EME	C	0.06%	0.09%	0.06%
	EPAM	C	0.02%	0.03%	0.02%
	EQIX	A	0.08%	0.34%	0.08%
	EQR	B	0.05%	0.04%	0.04%
	EQT	B	0.04%	0.06%	0.04%
	ESS	B	0.03%	0.04%	0.03%
	ETN	A	0.23%	0.32%	0.23%
	EW	C	0.04%	0.16%	0.04%
	EXPE	B	0.04%	0.04%	0.04%
	EXR	D	0.03%	0.05%	0.03%
	FAST	B	0.07%	0.18%	0.07%
	FCNCA	A	0.02%	0.11%	0.02%
	FFIV	B	0.03%	0.02%	0.02%
	FI	A	0.13%	0.1%	0.1%
	FLEX	A	0.06%	0.02%	0.02%
	FSLR	F	0.01%	0.07%	0.01%
	FTNT	C	0.03%	0.23%	0.03%
	FTV	C	0.03%	0.07%	0.03%
	GDDY	A	0.03%	0.1%	0.03%
	GE	D	0.15%	0.4%	0.15%
	GEHC	F	0.09%	0.06%	0.06%
	GEN	B	0.04%	0.03%	0.03%
	GEV	B	0.04%	0.19%	0.04%
	GGG	B	0.02%	0.06%	0.02%
	GOOG	C	1.14%	1.86%	1.14%
	GOOGL	C	1.33%	2.07%	1.33%
	GPC	D	0.05%	0.03%	0.03%
	GPN	B	0.09%	0.04%	0.04%
	GRMN	B	0.03%	0.08%	0.03%
	GWW	B	0.08%	0.2%	0.08%
	HAL	C	0.06%	0.06%	0.06%
	HES	B	0.06%	0.16%	0.06%
	HII	D	0.03%	0.02%	0.02%
	HLT	A	0.06%	0.24%	0.06%
	HRL	D	0.03%	0.01%	0.01%
	HSY	F	0.04%	0.05%	0.04%
	HUBB	B	0.03%	0.09%	0.03%
	HWM	A	0.07%	0.18%	0.07%
	ICE	C	0.11%	0.06%	0.06%
	IDXX	F	0.02%	0.13%	0.02%
	IEX	B	0.03%	0.07%	0.03%
	ILMN	D	0.03%	0.08%	0.03%
	INTU	C	0.11%	0.7%	0.11%
	INVH	D	0.03%	0.08%	0.03%
	IQV	D	0.07%	0.09%	0.07%
	IR	B	0.03%	0.16%	0.03%
	IRM	D	0.06%	0.07%	0.06%
	ISRG	A	0.09%	0.73%	0.09%
	IT	C	0.03%	0.15%	0.03%
	J	F	0.05%	0.04%	0.04%
	JBHT	C	0.05%	0.04%	0.04%
	JBL	B	0.06%	0.03%	0.03%
	JCI	C	0.16%	0.13%	0.13%
	JKHY	D	0.02%	0.05%	0.02%
	KDP	D	0.07%	0.05%	0.05%
	KEYS	A	0.04%	0.05%	0.04%
	KIM	A	0.03%	0.05%	0.03%
	KKR	A	0.12%	0.11%	0.11%
	KLAC	D	0.08%	0.12%	0.08%
	KMB	D	0.1%	0.06%	0.06%
	KMX	B	0.06%	0.02%	0.02%
	LDOS	C	0.07%	0.03%	0.03%
	LECO	B	0.02%	0.04%	0.02%
	LII	A	0.03%	0.08%	0.03%
	LIN	D	0.33%	0.15%	0.15%
	LLY	F	0.2%	2.38%	0.2%
	LNG	B	0.06%	0.06%	0.06%
	LPLA	A	0.04%	0.09%	0.04%
	LRCX	F	0.15%	0.14%	0.14%
	LULU	C	0.01%	0.13%	0.01%
	LUV	C	0.02%	0.03%	0.02%
	LVS	C	0.04%	0.08%	0.04%
	LW	C	0.02%	0.04%	0.02%
	MA	C	0.29%	1.64%	0.29%
	MAA	B	0.03%	0.03%	0.03%
	MAR	B	0.09%	0.04%	0.04%
	MAS	D	0.05%	0.03%	0.03%
	MCD	D	0.34%	0.17%	0.17%
	MCHP	D	0.05%	0.06%	0.05%
	MCK	B	0.11%	0.09%	0.09%
	MCO	B	0.07%	0.16%	0.07%
	META	D	1.79%	2.69%	1.79%
	MGM	D	0.06%	0.02%	0.02%
	MKC	D	0.03%	0.04%	0.03%
	MKL	A	0.05%	0.05%	0.05%
	MLM	B	0.04%	0.14%	0.04%
	MMC	B	0.14%	0.11%	0.11%
	MNST	C	0.05%	0.15%	0.05%
	MOH	F	0.05%	0.04%	0.04%
	MRK	F	0.42%	0.34%	0.34%
	MRNA	F	0.03%	0.02%	0.02%
	MRVL	B	0.04%	0.3%	0.04%
	MSCI	C	0.03%	0.18%	0.03%
	MSFT	F	2.43%	11.98%	2.43%
	MSI	B	0.07%	0.1%	0.07%
	MTD	D	0.03%	0.1%	0.03%
	NDAQ	A	0.03%	0.05%	0.03%
	NDSN	B	0.02%	0.05%	0.02%
	NEM	D	0.13%	0.11%	0.11%
	NFLX	A	0.17%	1.44%	0.17%
	NKE	D	0.19%	0.08%	0.08%
	NOW	A	0.01%	0.81%	0.01%
	NRG	B	0.1%	0.03%	0.03%
	NTAP	C	0.07%	0.05%	0.05%
	NVDA	C	0.4%	13.45%	0.4%
	NVT	B	0.02%	0.05%	0.02%
	O	D	0.04%	0.06%	0.04%
	ODFL	B	0.06%	0.15%	0.06%
	ON	D	0.04%	0.04%	0.04%
	ORCL	B	0.5%	0.33%	0.33%
	ORLY	B	0.11%	0.07%	0.07%
	OTIS	C	0.05%	0.09%	0.05%
	PANW	C	0.03%	0.48%	0.03%
	PAYX	C	0.06%	0.18%	0.06%
	PCG	A	0.03%	0.07%	0.03%
	PFGC	B	0.06%	0.05%	0.05%
	PGR	A	0.23%	0.31%	0.23%
	PH	A	0.13%	0.15%	0.13%
	PHM	D	0.11%	0.04%	0.04%
	PLD	D	0.07%	0.11%	0.07%
	PNR	A	0.04%	0.05%	0.04%
	POOL	C	0.02%	0.03%	0.02%
	PPG	F	0.08%	0.04%	0.04%
	PSA	D	0.05%	0.1%	0.05%
	PWR	A	0.07%	0.19%	0.07%
	QRVO	F	0.03%	0.01%	0.01%
	REG	B	0.02%	0.02%	0.02%
	RJF	A	0.05%	0.07%	0.05%
	RMD	C	0.03%	0.14%	0.03%
	ROK	B	0.06%	0.12%	0.06%
	ROP	B	0.05%	0.1%	0.05%
	ROST	C	0.07%	0.18%	0.07%
	RPM	A	0.04%	0.04%	0.04%
	RRX	B	0.03%	0.02%	0.02%
	RSG	A	0.06%	0.05%	0.05%
	RVTY	F	0.03%	0.02%	0.02%
	SBAC	D	0.02%	0.09%	0.02%
	SBUX	A	0.28%	0.15%	0.15%
	SCI	B	0.03%	0.03%	0.03%
	SHW	A	0.08%	0.11%	0.08%
	SLB	C	0.12%	0.04%	0.04%
	SNA	A	0.06%	0.02%	0.02%
	SNPS	B	0.03%	0.32%	0.03%
	SPGI	C	0.15%	0.26%	0.15%
	SQ	B	0.03%	0.2%	0.03%
	STE	F	0.03%	0.08%	0.03%
	STZ	D	0.07%	0.08%	0.07%
	SUI	D	0.02%	0.06%	0.02%
	SWK	D	0.07%	0.02%	0.02%
	SYK	C	0.13%	0.21%	0.13%
	SYY	B	0.1%	0.14%	0.1%
	TDG	D	0.06%	0.27%	0.06%
	TDY	B	0.03%	0.05%	0.03%
	TER	D	0.04%	0.03%	0.03%
	TFX	F	0.02%	0.01%	0.01%
	TJX	A	0.22%	0.14%	0.14%
	TMO	F	0.25%	0.11%	0.11%
	TMUS	B	0.25%	0.09%	0.09%
	TOL	B	0.06%	0.02%	0.02%
	TRGP	B	0.07%	0.07%	0.07%
	TRMB	B	0.03%	0.04%	0.03%
	TRU	D	0.03%	0.07%	0.03%
	TRV	B	0.31%	0.1%	0.1%
	TSCO	D	0.06%	0.08%	0.06%
	TSLA	B	0.28%	3.71%	0.28%
	TSN	B	0.2%	0.03%	0.03%
	TT	A	0.06%	0.19%	0.06%
	TTWO	A	0.03%	0.12%	0.03%
	TXT	D	0.06%	0.03%	0.03%
	UBER	D	0.04%	0.54%	0.04%
	UDR	B	0.02%	0.03%	0.02%
	UHAL	D	0.02%	0.01%	0.01%
	UHAL	D	0.02%	0.0%	0.0%
	UHS	D	0.08%	0.02%	0.02%
	ULTA	F	0.03%	0.03%	0.03%
	UNH	C	1.22%	0.28%	0.28%
	URI	B	0.13%	0.1%	0.1%
	USFD	A	0.08%	0.03%	0.03%
	V	A	0.36%	2.01%	0.36%
	VMC	B	0.05%	0.14%	0.05%
	VRSK	A	0.04%	0.16%	0.04%
	VRSN	F	0.01%	0.06%	0.01%
	VRTX	F	0.07%	0.2%	0.07%
	VST	B	0.16%	0.12%	0.12%
	VTR	C	0.08%	0.03%	0.03%
	WAB	B	0.06%	0.13%	0.06%
	WAT	B	0.04%	0.05%	0.04%
	WELL	A	0.1%	0.12%	0.1%
	WLK	D	0.02%	0.01%	0.01%
	WM	A	0.15%	0.09%	0.09%
	WRB	A	0.03%	0.04%	0.03%
	WSM	B	0.04%	0.04%	0.04%
	WSO	A	0.03%	0.07%	0.03%
	WST	C	0.02%	0.09%	0.02%
	WTRG	B	0.01%	0.01%	0.01%
	WTW	B	0.07%	0.06%	0.06%
	XYL	D	0.03%	0.11%	0.03%
	YUM	B	0.08%	0.14%	0.08%
	ZBH	C	0.05%	0.04%	0.04%
	ZBRA	B	0.04%	0.06%	0.04%
	ZTS	D	0.07%	0.14%	0.07%

FNDX Overweight 427 Positions Relative to ILCG

	Symbol	Grade	Weight
	BRK.A	B	2.17%
	JPM	A	2.03%
	XOM	B	1.99%
	WMT	A	1.47%
	WFC	A	1.35%
	BAC	A	1.3%
	T	A	1.27%
	CVX	A	1.25%
	VZ	C	1.13%
	C	A	1.1%
	INTC	D	0.89%
	JNJ	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%
	IBM	C	0.54%
	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%
	QCOM	F	0.43%
	LOW	D	0.43%
	PEP	F	0.41%
	MPC	D	0.4%
	VLO	C	0.39%
	AMGN	D	0.39%
	MU	D	0.38%
	TGT	F	0.38%
	LMT	D	0.37%
	HON	B	0.37%
	MO	A	0.37%
	GILD	C	0.37%
	PSX	C	0.36%
	ELV	F	0.36%
	CHTR	C	0.35%
	KO	D	0.35%
	MMM	D	0.35%
	UNP	C	0.35%
	RTX	C	0.34%
	SYF	B	0.34%
	ABT	B	0.34%
	TXN	C	0.34%
	F	C	0.33%
	FDX	B	0.32%
	USB	A	0.32%
	DUK	C	0.3%
	KR	B	0.3%
	PNC	B	0.3%
	BLK	C	0.28%
	AIG	B	0.28%
	UPS	C	0.28%
	MET	A	0.26%
	SO	D	0.26%
	CB	C	0.26%
	BK	A	0.26%
	NEE	D	0.24%
	KMI	A	0.23%
	TFC	A	0.23%
	DE	A	0.23%
	EOG	A	0.23%
	CSX	B	0.22%
	PYPL	B	0.22%
	PRU	A	0.22%
	ADM	D	0.21%
	AFL	B	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%
	HCA	F	0.2%
	CTSH	B	0.19%
	HUM	C	0.19%
	CNC	D	0.19%
	NUE	C	0.19%
	EXC	C	0.17%
	WMB	A	0.17%
	IP	B	0.17%
	WBA	F	0.17%
	EMR	A	0.17%
	AEP	D	0.16%
	DHI	D	0.16%
	BBY	D	0.16%
	LHX	C	0.16%
	LEN	D	0.16%
	MDT	D	0.16%
	DHR	F	0.15%
	ITW	B	0.15%
	PCAR	B	0.15%
	LYB	F	0.14%
	FCX	D	0.14%
	OKE	A	0.14%
	GLW	B	0.14%
	HIG	B	0.14%
	APD	A	0.13%
	SCHW	B	0.13%
	FITB	A	0.13%
	TROW	B	0.13%
	SRE	A	0.13%
	FIS	C	0.12%
	ED	D	0.12%
	ETR	B	0.12%
	WDC	D	0.12%
	XEL	A	0.12%
	MTB	A	0.11%
	PARA	C	0.11%
	PEG	A	0.11%
	BDX	F	0.11%
	OXY	D	0.11%
	PPL	B	0.11%
	BA	F	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%
	REGN	F	0.1%
	STT	A	0.1%
	CEG	D	0.1%
	KEY	B	0.1%
	BG	F	0.1%
	SPG	B	0.1%
	CFG	B	0.1%
	RF	A	0.09%
	MRO	B	0.09%
	SW	A	0.09%
	STX	D	0.09%
	FE	C	0.09%
	DVN	F	0.09%
	RS	B	0.09%
	BIIB	F	0.09%
	PFG	D	0.09%
	WY	D	0.09%
	CCI	D	0.09%
	LH	C	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%
	CHRW	C	0.08%
	WHR	B	0.08%
	ES	D	0.08%
	OMC	C	0.08%
	CME	A	0.08%
	DG	F	0.08%
	WEC	A	0.08%
	WKC	D	0.08%
	JLL	D	0.08%
	WBD	C	0.08%
	K	A	0.07%
	BAX	D	0.07%
	OC	A	0.07%
	VFC	C	0.07%
	CMA	A	0.07%
	CF	B	0.07%
	AEE	A	0.07%
	DGX	A	0.07%
	THC	D	0.07%
	EVRG	A	0.07%
	CAH	B	0.07%
	R	B	0.07%
	X	C	0.07%
	LAD	A	0.07%
	PKG	A	0.07%
	AVT	C	0.07%
	DTE	C	0.07%
	OVV	B	0.06%
	M	D	0.06%
	CAG	D	0.06%
	JEF	A	0.06%
	UNM	A	0.06%
	AA	B	0.06%
	ZION	B	0.06%
	OMF	A	0.06%
	MHK	D	0.06%
	CCL	B	0.06%
	CNP	B	0.06%
	FNF	B	0.06%
	KSS	F	0.06%
	MOS	F	0.06%
	VNO	B	0.05%
	NI	A	0.05%
	INGR	B	0.05%
	ORI	A	0.05%
	NXPI	D	0.05%
	IVZ	B	0.05%
	IFF	D	0.05%
	L	A	0.05%
	JNPR	F	0.05%
	AES	F	0.05%
	AN	C	0.05%
	BXP	D	0.05%
	KD	B	0.05%
	DXC	B	0.05%
	ALSN	B	0.05%
	LEA	D	0.05%
	EQH	B	0.05%
	TDS	B	0.05%
	GPI	A	0.05%
	FANG	D	0.05%
	DINO	D	0.05%
	BWA	D	0.05%
	TPR	B	0.05%
	SFM	A	0.05%
	LKQ	D	0.05%
	SJM	D	0.05%
	BFH	B	0.05%
	LNC	B	0.05%
	KVUE	A	0.05%
	TAP	C	0.05%
	FBIN	D	0.04%
	LPX	B	0.04%
	BCC	B	0.04%
	GAP	C	0.04%
	SSNC	B	0.04%
	OSK	B	0.04%
	AMG	B	0.04%
	IPG	D	0.04%
	ZIM	C	0.04%
	UFPI	B	0.04%
	FYBR	D	0.04%
	CNO	A	0.04%
	HST	C	0.04%
	DOX	D	0.04%
	CRBG	B	0.04%
	EXPD	D	0.04%
	SLM	A	0.04%
	TMHC	B	0.04%
	GT	C	0.04%
	RGA	A	0.04%
	ATO	A	0.04%
	SWKS	F	0.04%
	HOLX	D	0.04%
	RHI	B	0.04%
	HSIC	B	0.04%
	LNT	A	0.04%
	FAF	A	0.04%
	MUSA	A	0.04%
	BERY	B	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%
	EVR	B	0.04%
	OGN	D	0.04%
	JXN	C	0.04%
	MAN	D	0.04%
	UGI	A	0.04%
	EXP	A	0.03%
	SEE	C	0.03%
	THG	A	0.03%
	LSTR	D	0.03%
	PRI	A	0.03%
	AR	B	0.03%
	FMC	D	0.03%
	ACI	C	0.03%
	GNTX	C	0.03%
	AAP	C	0.03%
	BTU	B	0.03%
	ITT	A	0.03%
	BBWI	D	0.03%
	KBH	D	0.03%
	CW	B	0.03%
	TPH	D	0.03%
	G	B	0.03%
	FLR	B	0.03%
	SNX	C	0.03%
	BC	C	0.03%
	ABG	B	0.03%
	SNV	B	0.03%
	SEIC	B	0.03%
	VOYA	B	0.03%
	AMCR	D	0.03%
	ARMK	B	0.03%
	CPB	D	0.03%
	AIZ	A	0.03%
	CAR	C	0.03%
	OGE	B	0.03%
	GPK	C	0.03%
	HAS	D	0.03%
	FL	F	0.03%
	RL	B	0.03%
	AGCO	D	0.03%
	CACI	D	0.03%
	APA	D	0.03%
	MTH	D	0.03%
	JHG	A	0.03%
	CLF	F	0.03%
	EWBC	A	0.03%
	WU	D	0.03%
	CIEN	B	0.03%
	GNW	A	0.03%
	NXST	C	0.03%
	CG	A	0.03%
	HUN	F	0.03%
	FHN	A	0.03%
	CMC	B	0.03%
	DOC	D	0.03%
	OLN	D	0.03%
	PBF	D	0.03%
	MTZ	B	0.03%
	SANM	B	0.03%
	NWL	B	0.03%
	HBI	B	0.03%
	GL	B	0.03%
	MLI	C	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%
	XRX	F	0.02%
	WPC	D	0.02%
	ASO	F	0.02%
	GLPI	C	0.02%
	WERN	C	0.02%
	OI	C	0.02%
	POST	C	0.02%
	NFG	A	0.02%
	ASGN	F	0.02%
	NAVI	C	0.02%
	SM	B	0.02%
	CZR	F	0.02%
	CCEP	C	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%
	HUBG	A	0.02%
	SLG	B	0.02%
	GXO	B	0.02%
	CTLT	B	0.02%
	PENN	C	0.02%
	HOG	D	0.02%
	NOV	C	0.02%
	DCI	B	0.02%
	BECN	B	0.02%
	SKX	D	0.02%
	CC	C	0.02%
	CNH	C	0.02%
	LAMR	D	0.02%
	PK	B	0.02%
	BRX	A	0.02%
	VICI	C	0.02%
	MTG	C	0.02%
	ABM	B	0.02%
	DAR	C	0.02%
	ATR	B	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%
	SOLV	C	0.02%
	VSH	D	0.01%
	ANDE	D	0.01%
	LILAK	D	0.01%
	CNXC	F	0.01%
	DBX	B	0.01%
	ICLR	D	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%
	CBOE	B	0.01%
	TNL	A	0.01%
	PRGO	B	0.01%
	QRTEA	F	0.01%
	AAL	B	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 92 Positions Relative to ILCG

	Symbol	Grade	Weight
	PLTR	B	-0.48%
	MELI	D	-0.36%
	CRWD	B	-0.31%
	APP	B	-0.26%
	COIN	C	-0.25%
	ABNB	C	-0.22%
	FICO	B	-0.22%
	TTD	B	-0.21%
	DASH	A	-0.21%
	WDAY	B	-0.21%
	VRT	B	-0.2%
	MSTR	C	-0.18%
	AXON	A	-0.17%
	SNOW	C	-0.16%
	RCL	A	-0.15%
	TEAM	A	-0.15%
	DDOG	A	-0.15%
	HUBS	A	-0.13%
	VEEV	C	-0.12%
	ARES	A	-0.12%
	MPWR	F	-0.11%
	RBLX	C	-0.11%
	TPL	A	-0.11%
	NET	B	-0.11%
	CSGP	D	-0.11%
	ALNY	D	-0.11%
	DXCM	D	-0.11%
	TYL	B	-0.1%
	PTC	A	-0.09%
	TEL	B	-0.09%
	IBKR	A	-0.08%
	NTRA	B	-0.08%
	LYV	A	-0.08%
	MDB	C	-0.08%
	FIX	A	-0.07%
	FWONK	B	-0.07%
	HOOD	B	-0.07%
	FDS	B	-0.07%
	PODD	C	-0.07%
	ZS	C	-0.07%
	CPNG	D	-0.07%
	VLTO	D	-0.06%
	ROL	B	-0.06%
	PSTG	D	-0.06%
	TW	A	-0.06%
	DOCU	A	-0.06%
	TWLO	A	-0.06%
	HEI	B	-0.06%
	MANH	D	-0.06%
	NTNX	A	-0.06%
	NBIX	C	-0.05%
	OKTA	C	-0.05%
	AMH	D	-0.05%
	CLH	B	-0.05%
	SAIA	B	-0.05%
	SMCI	F	-0.05%
	COO	D	-0.05%
	DT	C	-0.05%
	WMS	D	-0.04%
	ENTG	D	-0.04%
	SRPT	D	-0.04%
	CHDN	B	-0.04%
	WING	D	-0.04%
	EXAS	D	-0.04%
	PINS	D	-0.04%
	TECH	D	-0.04%
	ERIE	D	-0.04%
	FND	C	-0.04%
	TTEK	F	-0.04%
	PAYC	B	-0.04%
	XPO	B	-0.04%
	DKNG	B	-0.04%
	SNAP	C	-0.04%
	HEI	B	-0.04%
	DAY	B	-0.04%
	BMRN	D	-0.04%
	AZPN	A	-0.03%
	ELS	C	-0.03%
	MEDP	D	-0.03%
	CNM	D	-0.03%
	ENPH	F	-0.03%
	WYNN	D	-0.03%
	MORN	B	-0.03%
	CELH	F	-0.02%
	BRKR	D	-0.02%
	U	C	-0.02%
	PCOR	B	-0.02%
	BSY	D	-0.02%
	INCY	C	-0.02%
	FWONA	B	-0.01%
	COTY	F	-0.01%
	ALAB	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

ILCG: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Business Services Diagnostics & Research Specialty Retail REIT - Residential Semiconductors Software - Infrastructure Biotechnology Capital Markets Specialty Chemicals Engineering & Construction Insurance - Property & Casualty Internet Content & Information Restaurants Household & Personal Products Insurance Brokers Medical Devices Medical Instruments & Supplies Semiconductor Equipment & Materials

Keywords: S&P 500 Nasdaq 100 Computing Electronics Aerospace Cloud Computing IBD 50 Insurance Real Estate Investment Trust Semiconductor Chemical Dow Jones Component Mining Mobile Devices Beverage Cloud Infrastructure Natural Gas Software As A Service Medicine Software