FNDX vs. IVE ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to iShares S&P 500 Value ETF (IVE)

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

$71.47

Average Daily Volume

429,832

Number of Holdings ^*

718

* may have additional holdings in another (foreign) market

IVE

iShares S&P 500 Value ETF

IVE Description

The investment seeks to track the investment results of an index composed of large-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 S&P 500® Value Index (the "underlying index"), which measures the performance of the large-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$196.65

Average Daily Volume

484,630

Number of Holdings ^*

437

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	IVE
30 Days	3.09%	3.06%
60 Days	4.23%	5.00%
90 Days	6.97%	7.66%
12 Months	26.34%	25.66%

410 Overlapping Holdings

	Symbol	Grade	Weight in FNDX	Weight in IVE	Overlap
	A	C	0.06%	0.19%	0.06%
	AAL	D	0.0%	0.03%	0.0%
	ABBV	C	0.6%	1.04%	0.6%
	ABT	C	0.34%	0.98%	0.34%
	ACN	C	0.34%	0.49%	0.34%
	ADI	C	0.13%	0.22%	0.13%
	ADM	D	0.22%	0.14%	0.14%
	ADP	B	0.15%	0.33%	0.15%
	ADSK	C	0.03%	0.13%	0.03%
	AEE	C	0.07%	0.11%	0.07%
	AEP	C	0.18%	0.26%	0.18%
	AES	C	0.06%	0.06%	0.06%
	AFL	C	0.23%	0.27%	0.23%
	AIG	D	0.28%	0.23%	0.23%
	AIZ	B	0.03%	0.05%	0.03%
	AJG	D	0.05%	0.15%	0.05%
	AKAM	D	0.03%	0.04%	0.03%
	ALB	D	0.02%	0.05%	0.02%
	ALGN	D	0.02%	0.04%	0.02%
	ALL	B	0.29%	0.24%	0.24%
	ALLE	B	0.02%	0.04%	0.02%
	AMCR	B	0.02%	0.08%	0.02%
	AME	C	0.05%	0.1%	0.05%
	AMGN	B	0.48%	0.86%	0.48%
	AMP	A	0.12%	0.1%	0.1%
	AMT	C	0.14%	0.32%	0.14%
	ANSS	D	0.02%	0.06%	0.02%
	AON	B	0.13%	0.18%	0.13%
	AOS	D	0.03%	0.02%	0.02%
	APD	B	0.11%	0.3%	0.11%
	APH	D	0.09%	0.16%	0.09%
	APTV	D	0.04%	0.09%	0.04%
	ARE	C	0.03%	0.09%	0.03%
	ATO	B	0.04%	0.1%	0.04%
	AVB	B	0.06%	0.16%	0.06%
	AVY	C	0.04%	0.09%	0.04%
	AWK	B	0.05%	0.14%	0.05%
	AXP	B	0.37%	0.21%	0.21%
	AZO	D	0.06%	0.08%	0.06%
	BA	F	0.14%	0.24%	0.14%
	BAC	D	1.22%	1.27%	1.22%
	BALL	C	0.06%	0.1%	0.06%
	BAX	C	0.09%	0.1%	0.09%
	BBWI	F	0.02%	0.03%	0.02%
	BBY	C	0.19%	0.09%	0.09%
	BDX	D	0.11%	0.33%	0.11%
	BEN	F	0.04%	0.03%	0.03%
	BG	D	0.11%	0.07%	0.07%
	BIIB	F	0.1%	0.14%	0.1%
	BK	B	0.26%	0.25%	0.25%
	BKR	C	0.14%	0.16%	0.14%
	BLK	B	0.26%	0.6%	0.26%
	BMY	C	0.35%	0.48%	0.35%
	BR	D	0.04%	0.05%	0.04%
	BRK.A	C	2.29%	3.91%	2.29%
	BRO	C	0.03%	0.03%	0.03%
	BSX	B	0.09%	0.27%	0.09%
	BWA	D	0.05%	0.04%	0.04%
	BX	B	0.11%	0.15%	0.11%
	BXP	B	0.05%	0.06%	0.05%
	C	C	1.04%	0.53%	0.53%
	CAG	C	0.07%	0.07%	0.07%
	CAH	C	0.07%	0.13%	0.07%
	CARR	B	0.13%	0.16%	0.13%
	CAT	B	0.39%	0.34%	0.34%
	CB	B	0.29%	0.57%	0.29%
	CBOE	C	0.02%	0.04%	0.02%
	CBRE	A	0.12%	0.17%	0.12%
	CCI	C	0.11%	0.25%	0.11%
	CCL	C	0.05%	0.02%	0.02%
	CDW	D	0.06%	0.08%	0.06%
	CEG	C	0.1%	0.16%	0.1%
	CF	C	0.06%	0.03%	0.03%
	CFG	C	0.1%	0.09%	0.09%
	CHD	D	0.04%	0.07%	0.04%
	CHRW	B	0.07%	0.06%	0.06%
	CHTR	D	0.32%	0.09%	0.09%
	CI	C	0.55%	0.5%	0.5%
	CINF	B	0.07%	0.1%	0.07%
	CL	D	0.16%	0.26%	0.16%
	CLX	C	0.04%	0.1%	0.04%
	CMCSA	D	0.75%	0.75%	0.75%
	CME	C	0.08%	0.24%	0.08%
	CMI	C	0.17%	0.2%	0.17%
	CMS	C	0.06%	0.1%	0.06%
	CNC	D	0.25%	0.19%	0.19%
	CNP	C	0.06%	0.09%	0.06%
	COF	B	0.39%	0.26%	0.26%
	COP	D	0.42%	0.18%	0.18%
	COST	B	0.73%	1.14%	0.73%
	CPB	C	0.04%	0.05%	0.04%
	CPT	B	0.02%	0.06%	0.02%
	CRL	F	0.01%	0.05%	0.01%
	CSCO	C	0.73%	0.97%	0.73%
	CSX	D	0.21%	0.16%	0.16%
	CTAS	B	0.09%	0.16%	0.09%
	CTLT	B	0.02%	0.05%	0.02%
	CTRA	D	0.01%	0.03%	0.01%
	CTSH	C	0.18%	0.19%	0.18%
	CTVA	B	0.09%	0.19%	0.09%
	CVS	D	0.68%	0.35%	0.35%
	CVX	D	1.07%	1.16%	1.07%
	CZR	C	0.02%	0.02%	0.02%
	D	C	0.19%	0.24%	0.19%
	DAL	C	0.02%	0.06%	0.02%
	DD	B	0.18%	0.16%	0.16%
	DE	B	0.22%	0.21%	0.21%
	DFS	B	0.21%	0.07%	0.07%
	DG	F	0.08%	0.09%	0.08%
	DGX	B	0.07%	0.08%	0.07%
	DHR	B	0.17%	0.87%	0.17%
	DIS	D	0.37%	0.8%	0.37%
	DLR	B	0.08%	0.15%	0.08%
	DLTR	F	0.04%	0.07%	0.04%
	DOC	C	0.04%	0.08%	0.04%
	DOV	B	0.06%	0.12%	0.06%
	DOW	D	0.2%	0.17%	0.17%
	DPZ	F	0.04%	0.04%	0.04%
	DRI	B	0.05%	0.04%	0.04%
	DTE	C	0.08%	0.13%	0.08%
	DUK	C	0.34%	0.44%	0.34%
	DVA	B	0.07%	0.02%	0.02%
	DVN	F	0.08%	0.12%	0.08%
	EA	D	0.08%	0.1%	0.08%
	EBAY	B	0.19%	0.16%	0.16%
	ECL	B	0.09%	0.15%	0.09%
	ED	C	0.13%	0.17%	0.13%
	EFX	B	0.04%	0.11%	0.04%
	EG	C	0.03%	0.08%	0.03%
	EIX	C	0.11%	0.16%	0.11%
	EL	F	0.04%	0.09%	0.04%
	ELV	C	0.5%	0.62%	0.5%
	EMN	B	0.08%	0.06%	0.06%
	EMR	D	0.15%	0.28%	0.15%
	EOG	D	0.2%	0.11%	0.11%
	EPAM	F	0.02%	0.03%	0.02%
	EQIX	C	0.08%	0.21%	0.08%
	EQR	B	0.06%	0.13%	0.06%
	EQT	D	0.03%	0.09%	0.03%
	ES	C	0.09%	0.12%	0.09%
	ESS	B	0.04%	0.1%	0.04%
	ETN	C	0.21%	0.22%	0.21%
	ETR	B	0.11%	0.13%	0.11%
	EVRG	B	0.07%	0.07%	0.07%
	EW	F	0.04%	0.13%	0.04%
	EXC	C	0.18%	0.19%	0.18%
	EXPD	C	0.02%	0.05%	0.02%
	EXR	B	0.04%	0.18%	0.04%
	F	F	0.31%	0.2%	0.2%
	FAST	C	0.07%	0.1%	0.07%
	FCX	D	0.13%	0.15%	0.13%
	FDX	C	0.32%	0.31%	0.31%
	FE	C	0.1%	0.11%	0.1%
	FFIV	B	0.03%	0.06%	0.03%
	FIS	B	0.13%	0.23%	0.13%
	FITB	B	0.13%	0.14%	0.13%
	FMC	C	0.03%	0.04%	0.03%
	FOXA	B	0.09%	0.04%	0.04%
	FSLR	C	0.02%	0.12%	0.02%
	GD	B	0.23%	0.33%	0.23%
	GE	B	0.18%	0.54%	0.18%
	GEHC	C	0.07%	0.18%	0.07%
	GEV	B	0.05%	0.17%	0.05%
	GILD	B	0.35%	0.5%	0.35%
	GIS	B	0.13%	0.2%	0.13%
	GL	C	0.03%	0.04%	0.03%
	GLW	C	0.14%	0.16%	0.14%
	GM	C	0.69%	0.26%	0.26%
	GNRC	D	0.02%	0.02%	0.02%
	GPC	D	0.05%	0.09%	0.05%
	GPN	D	0.08%	0.14%	0.08%
	GRMN	D	0.05%	0.06%	0.05%
	GS	C	0.56%	0.75%	0.56%
	GWW	B	0.07%	0.05%	0.05%
	HAL	F	0.06%	0.12%	0.06%
	HAS	B	0.04%	0.04%	0.04%
	HBAN	B	0.07%	0.1%	0.07%
	HCA	B	0.25%	0.19%	0.19%
	HD	B	0.78%	1.14%	0.78%
	HIG	B	0.15%	0.16%	0.15%
	HII	D	0.04%	0.05%	0.04%
	HOLX	B	0.04%	0.09%	0.04%
	HON	D	0.34%	0.64%	0.34%
	HPE	D	0.18%	0.11%	0.11%
	HPQ	D	0.2%	0.14%	0.14%
	HRL	C	0.03%	0.04%	0.03%
	HSIC	C	0.04%	0.04%	0.04%
	HST	C	0.04%	0.02%	0.02%
	HSY	C	0.04%	0.09%	0.04%
	HUBB	B	0.03%	0.06%	0.03%
	HUM	F	0.21%	0.19%	0.19%
	HWM	B	0.06%	0.07%	0.06%
	IBM	B	0.61%	0.95%	0.61%
	ICE	C	0.13%	0.45%	0.13%
	IDXX	C	0.03%	0.09%	0.03%
	IEX	D	0.02%	0.07%	0.02%
	IFF	B	0.06%	0.13%	0.06%
	INTC	F	0.6%	0.4%	0.4%
	INVH	C	0.03%	0.1%	0.03%
	IP	B	0.15%	0.08%	0.08%
	IPG	C	0.04%	0.06%	0.04%
	IQV	C	0.08%	0.13%	0.08%
	IR	C	0.03%	0.04%	0.03%
	IRM	C	0.08%	0.08%	0.08%
	ISRG	B	0.09%	0.29%	0.09%
	ITW	C	0.15%	0.18%	0.15%
	IVZ	B	0.04%	0.03%	0.03%
	J	C	0.05%	0.09%	0.05%
	JBHT	D	0.04%	0.07%	0.04%
	JBL	D	0.05%	0.03%	0.03%
	JCI	B	0.15%	0.24%	0.15%
	JKHY	B	0.02%	0.06%	0.02%
	JNJ	C	1.0%	1.92%	1.0%
	JNPR	B	0.05%	0.06%	0.05%
	JPM	D	1.94%	2.83%	1.94%
	K	B	0.07%	0.1%	0.07%
	KDP	B	0.08%	0.19%	0.08%
	KEY	B	0.1%	0.07%	0.07%
	KEYS	C	0.03%	0.13%	0.03%
	KHC	C	0.11%	0.14%	0.11%
	KIM	C	0.03%	0.08%	0.03%
	KMB	D	0.11%	0.23%	0.11%
	KMI	B	0.19%	0.2%	0.19%
	KMX	D	0.07%	0.06%	0.06%
	KO	C	0.43%	0.81%	0.43%
	KR	C	0.3%	0.18%	0.18%
	KVUE	C	0.03%	0.22%	0.03%
	L	C	0.05%	0.07%	0.05%
	LDOS	B	0.08%	0.1%	0.08%
	LEN	B	0.19%	0.1%	0.1%
	LHX	C	0.16%	0.21%	0.16%
	LIN	B	0.35%	0.52%	0.35%
	LKQ	F	0.05%	0.05%	0.05%
	LMT	C	0.4%	0.59%	0.4%
	LNT	B	0.04%	0.07%	0.04%
	LOW	B	0.42%	0.71%	0.42%
	LUV	C	0.02%	0.08%	0.02%
	LVS	D	0.03%	0.03%	0.03%
	LW	D	0.01%	0.02%	0.01%
	LYB	D	0.16%	0.12%	0.12%
	MA	B	0.28%	0.55%	0.28%
	MAA	B	0.04%	0.09%	0.04%
	MAS	B	0.06%	0.04%	0.04%
	MCD	B	0.34%	0.58%	0.34%
	MCHP	F	0.05%	0.08%	0.05%
	MCK	F	0.1%	0.33%	0.1%
	MCO	B	0.08%	0.19%	0.08%
	MDLZ	B	0.23%	0.28%	0.23%
	MDT	C	0.27%	0.58%	0.27%
	MET	B	0.26%	0.22%	0.22%
	MGM	F	0.05%	0.01%	0.01%
	MHK	C	0.07%	0.04%	0.04%
	MKC	C	0.04%	0.1%	0.04%
	MLM	D	0.04%	0.05%	0.04%
	MMC	C	0.15%	0.26%	0.15%
	MMM	B	0.4%	0.36%	0.36%
	MNST	D	0.04%	0.07%	0.04%
	MO	C	0.39%	0.44%	0.39%
	MOH	D	0.05%	0.04%	0.04%
	MOS	F	0.05%	0.04%	0.04%
	MPC	F	0.41%	0.13%	0.13%
	MRK	D	0.51%	0.85%	0.51%
	MRNA	F	0.04%	0.11%	0.04%
	MRO	C	0.08%	0.03%	0.03%
	MS	D	0.35%	0.59%	0.35%
	MSCI	C	0.03%	0.09%	0.03%
	MSI	B	0.06%	0.15%	0.06%
	MTB	B	0.09%	0.14%	0.09%
	MTD	D	0.04%	0.09%	0.04%
	MU	F	0.35%	0.49%	0.35%
	NDAQ	A	0.03%	0.15%	0.03%
	NDSN	C	0.02%	0.07%	0.02%
	NEE	C	0.29%	0.84%	0.29%
	NEM	B	0.19%	0.3%	0.19%
	NI	B	0.05%	0.07%	0.05%
	NKE	D	0.18%	0.26%	0.18%
	NOC	B	0.21%	0.35%	0.21%
	NRG	C	0.11%	0.08%	0.08%
	NSC	C	0.21%	0.27%	0.21%
	NTAP	D	0.08%	0.07%	0.07%
	NTRS	A	0.07%	0.09%	0.07%
	NUE	F	0.18%	0.06%	0.06%
	NWSA	D	0.04%	0.05%	0.04%
	NXPI	F	0.08%	0.07%	0.07%
	O	C	0.04%	0.26%	0.04%
	OKE	B	0.13%	0.1%	0.1%
	OMC	B	0.08%	0.1%	0.08%
	ON	D	0.04%	0.08%	0.04%
	ORLY	C	0.1%	0.09%	0.09%
	OTIS	C	0.05%	0.11%	0.05%
	OXY	F	0.11%	0.17%	0.11%
	PARA	F	0.09%	0.03%	0.03%
	PAYX	C	0.06%	0.12%	0.06%
	PCAR	D	0.13%	0.06%	0.06%
	PCG	C	0.03%	0.2%	0.03%
	PEG	B	0.11%	0.2%	0.11%
	PEP	C	0.45%	0.75%	0.45%
	PFE	C	0.75%	0.8%	0.75%
	PFG	B	0.08%	0.09%	0.08%
	PG	C	0.84%	1.21%	0.84%
	PGR	B	0.26%	0.36%	0.26%
	PH	B	0.12%	0.08%	0.08%
	PKG	B	0.07%	0.09%	0.07%
	PLD	C	0.08%	0.58%	0.08%
	PM	C	0.51%	0.59%	0.51%
	PNC	B	0.29%	0.34%	0.29%
	PNR	B	0.04%	0.02%	0.02%
	PNW	C	0.04%	0.05%	0.04%
	POOL	C	0.02%	0.03%	0.02%
	PPG	D	0.08%	0.14%	0.08%
	PPL	C	0.11%	0.12%	0.11%
	PRU	C	0.23%	0.2%	0.2%
	PSA	B	0.06%	0.16%	0.06%
	PSX	F	0.36%	0.26%	0.26%
	PWR	B	0.06%	0.06%	0.06%
	PYPL	B	0.19%	0.35%	0.19%
	QCOM	D	0.47%	0.43%	0.43%
	QRVO	F	0.05%	0.05%	0.05%
	REG	C	0.03%	0.06%	0.03%
	REGN	C	0.16%	0.24%	0.16%
	RF	B	0.08%	0.1%	0.08%
	RJF	C	0.04%	0.11%	0.04%
	RL	C	0.03%	0.02%	0.02%
	RMD	C	0.04%	0.18%	0.04%
	ROK	D	0.05%	0.08%	0.05%
	ROP	C	0.05%	0.16%	0.05%
	RSG	D	0.07%	0.09%	0.07%
	RTX	C	0.37%	0.76%	0.37%
	SBAC	C	0.02%	0.08%	0.02%
	SBUX	C	0.27%	0.22%	0.22%
	SCHW	D	0.1%	0.45%	0.1%
	SHW	B	0.09%	0.21%	0.09%
	SJM	C	0.06%	0.06%	0.06%
	SLB	F	0.11%	0.28%	0.11%
	SNA	C	0.04%	0.04%	0.04%
	SO	B	0.29%	0.47%	0.29%
	SOLV	C	0.04%	0.05%	0.04%
	SPG	B	0.11%	0.16%	0.11%
	SPGI	B	0.15%	0.45%	0.15%
	SRE	C	0.12%	0.25%	0.12%
	STE	C	0.03%	0.05%	0.03%
	STLD	F	0.09%	0.03%	0.03%
	STT	A	0.09%	0.12%	0.09%
	STX	C	0.1%	0.06%	0.06%
	STZ	D	0.08%	0.2%	0.08%
	SW	B	0.11%	0.11%	0.11%
	SWK	B	0.08%	0.08%	0.08%
	SWKS	D	0.05%	0.08%	0.05%
	SYF	C	0.27%	0.09%	0.09%
	SYK	C	0.13%	0.22%	0.13%
	SYY	D	0.1%	0.18%	0.1%
	T	C	1.37%	0.75%	0.75%
	TAP	D	0.05%	0.05%	0.05%
	TDY	B	0.02%	0.1%	0.02%
	TEL	D	0.11%	0.13%	0.11%
	TER	D	0.05%	0.1%	0.05%
	TFC	C	0.22%	0.27%	0.22%
	TFX	C	0.02%	0.06%	0.02%
	TGT	C	0.37%	0.34%	0.34%
	TJX	B	0.24%	0.23%	0.23%
	TMO	B	0.29%	0.7%	0.29%
	TMUS	C	0.24%	0.5%	0.24%
	TPR	C	0.04%	0.05%	0.04%
	TRMB	C	0.03%	0.07%	0.03%
	TROW	D	0.11%	0.11%	0.11%
	TRV	C	0.3%	0.26%	0.26%
	TSCO	C	0.06%	0.09%	0.06%
	TSN	C	0.2%	0.08%	0.08%
	TT	B	0.09%	0.12%	0.09%
	TTWO	C	0.02%	0.06%	0.02%
	TXN	C	0.34%	0.55%	0.34%
	TXT	D	0.06%	0.08%	0.06%
	UDR	C	0.03%	0.07%	0.03%
	UHS	B	0.1%	0.07%	0.07%
	ULTA	D	0.03%	0.03%	0.03%
	UNH	C	1.25%	1.64%	1.25%
	UNP	C	0.4%	0.4%	0.4%
	UPS	D	0.25%	0.45%	0.25%
	USB	B	0.3%	0.34%	0.3%
	V	C	0.35%	0.74%	0.35%
	VICI	C	0.02%	0.17%	0.02%
	VLO	F	0.38%	0.21%	0.21%
	VMC	D	0.04%	0.05%	0.04%
	VRSK	D	0.04%	0.08%	0.04%
	VRSN	D	0.01%	0.04%	0.01%
	VRTX	D	0.08%	0.22%	0.08%
	VTR	C	0.09%	0.13%	0.09%
	VTRS	D	0.1%	0.07%	0.07%
	VZ	B	1.32%	0.9%	0.9%
	WAB	B	0.06%	0.14%	0.06%
	WAT	C	0.04%	0.06%	0.04%
	WBA	F	0.14%	0.03%	0.03%
	WBD	D	0.06%	0.09%	0.06%
	WDC	D	0.13%	0.1%	0.1%
	WEC	C	0.08%	0.15%	0.08%
	WELL	C	0.11%	0.37%	0.11%
	WFC	D	1.06%	0.89%	0.89%
	WM	D	0.15%	0.19%	0.15%
	WMB	B	0.15%	0.16%	0.15%
	WMT	C	1.51%	1.66%	1.51%
	WRB	C	0.04%	0.09%	0.04%
	WTW	C	0.07%	0.14%	0.07%
	WY	C	0.09%	0.11%	0.09%
	XEL	B	0.12%	0.17%	0.12%
	XOM	C	1.92%	2.41%	1.92%
	XYL	C	0.04%	0.15%	0.04%
	YUM	D	0.08%	0.1%	0.08%
	ZBH	F	0.05%	0.11%	0.05%
	ZBRA	B	0.04%	0.08%	0.04%
	ZTS	C	0.08%	0.19%	0.08%

FNDX Overweight 308 Positions Relative to IVE

	Symbol	Grade	Weight
	AAPL	C	4.51%
	MSFT	C	2.54%
	META	B	1.85%
	AMZN	C	1.42%
	GOOGL	D	1.22%
	GOOG	D	1.06%
	AVGO	C	0.68%
	LUMN	C	0.57%
	ORCL	C	0.47%
	NVDA	D	0.38%
	LLY	C	0.27%
	AMAT	D	0.25%
	ADBE	F	0.22%
	DHI	B	0.2%
	BKNG	C	0.2%
	TSLA	C	0.19%
	LRCX	F	0.16%
	NFLX	B	0.15%
	PHM	B	0.13%
	CRM	D	0.12%
	URI	B	0.12%
	INTU	C	0.11%
	KKR	B	0.11%
	VST	C	0.11%
	KLAC	D	0.1%
	ALLY	F	0.1%
	JLL	B	0.09%
	AMD	D	0.09%
	TDG	B	0.08%
	RS	D	0.08%
	MAR	C	0.08%
	THC	A	0.08%
	NVR	B	0.08%
	ROST	C	0.08%
	ARW	C	0.08%
	OGN	D	0.07%
	FNF	B	0.07%
	KSS	F	0.07%
	USFD	B	0.07%
	AVT	C	0.07%
	X	F	0.07%
	EME	B	0.06%
	OC	D	0.06%
	CE	F	0.06%
	TOL	B	0.06%
	HLT	B	0.06%
	CMA	B	0.06%
	VFC	C	0.06%
	TRGP	B	0.06%
	WHR	D	0.06%
	R	A	0.06%
	AFG	B	0.05%
	AA	D	0.05%
	EQH	C	0.05%
	FANG	D	0.05%
	GPI	B	0.05%
	INGR	B	0.05%
	VNO	B	0.05%
	ACGL	C	0.05%
	SIRI	C	0.05%
	DKS	D	0.05%
	SFM	B	0.05%
	CSL	B	0.05%
	ORI	B	0.05%
	ODFL	D	0.05%
	MUSA	D	0.05%
	KD	D	0.05%
	DINO	F	0.05%
	UNM	B	0.05%
	DXC	C	0.05%
	AN	D	0.05%
	MAN	C	0.05%
	ZION	D	0.05%
	CPAY	B	0.05%
	OMF	D	0.05%
	LNG	C	0.05%
	PFGC	B	0.05%
	LAD	D	0.05%
	WSM	D	0.05%
	M	F	0.05%
	LEA	F	0.05%
	FLEX	C	0.05%
	JEF	B	0.05%
	LNC	D	0.05%
	CASY	D	0.05%
	RPM	B	0.04%
	MTH	A	0.04%
	ANET	B	0.04%
	SLM	D	0.04%
	AYI	B	0.04%
	UBER	C	0.04%
	CNO	B	0.04%
	BAH	C	0.04%
	CMG	C	0.04%
	BAP	B	0.04%
	MRVL	C	0.04%
	TMHC	A	0.04%
	WU	F	0.04%
	THO	D	0.04%
	BLDR	C	0.04%
	SSNC	B	0.04%
	JXN	A	0.04%
	CCK	A	0.04%
	FYBR	C	0.04%
	DOX	C	0.04%
	PVH	F	0.04%
	KNX	C	0.04%
	EVR	A	0.04%
	GAP	F	0.04%
	BERY	B	0.04%
	RGA	C	0.04%
	ACM	B	0.04%
	ALSN	B	0.04%
	FAF	B	0.04%
	ZIM	C	0.04%
	HES	F	0.04%
	TDS	C	0.04%
	MKL	C	0.04%
	OVV	F	0.04%
	UGI	C	0.04%
	SKX	D	0.03%
	AAP	F	0.03%
	CG	D	0.03%
	ITT	B	0.03%
	CPRI	D	0.03%
	MTG	B	0.03%
	GDDY	C	0.03%
	CW	B	0.03%
	CIEN	C	0.03%
	BC	C	0.03%
	FLR	D	0.03%
	ILMN	C	0.03%
	GNTX	F	0.03%
	EWBC	D	0.03%
	CLF	F	0.03%
	SCI	B	0.03%
	SON	C	0.03%
	SAIC	C	0.03%
	LPLA	D	0.03%
	AVTR	B	0.03%
	FTNT	C	0.03%
	SUI	B	0.03%
	JHG	B	0.03%
	CMC	D	0.03%
	FHN	D	0.03%
	AER	B	0.03%
	SWN	D	0.03%
	BPOP	C	0.03%
	RRX	C	0.03%
	PBF	F	0.03%
	AGCO	D	0.03%
	EXPE	C	0.03%
	NWL	C	0.03%
	VOYA	B	0.03%
	TRU	B	0.03%
	GT	F	0.03%
	CRBG	D	0.03%
	OLN	D	0.03%
	SNPS	D	0.03%
	CHKP	B	0.03%
	MLI	A	0.03%
	SLG	B	0.03%
	APA	F	0.03%
	LII	B	0.03%
	CDNS	D	0.03%
	GNW	B	0.03%
	TPH	C	0.03%
	APO	C	0.03%
	MTZ	B	0.03%
	OGE	C	0.03%
	WCC	D	0.03%
	ARMK	B	0.03%
	NXST	D	0.03%
	KBH	A	0.03%
	SANM	D	0.03%
	RHI	D	0.03%
	DECK	C	0.03%
	PANW	D	0.03%
	CCEP	B	0.03%
	BURL	B	0.03%
	FTV	C	0.03%
	HBI	B	0.03%
	CACI	B	0.03%
	WSO	C	0.03%
	IT	B	0.03%
	BCC	B	0.03%
	UFPI	C	0.03%
	GPK	B	0.03%
	OSK	F	0.03%
	FL	D	0.03%
	CNH	D	0.03%
	HUN	D	0.03%
	LPX	B	0.03%
	AMG	C	0.03%
	OI	D	0.02%
	WST	D	0.02%
	UNFI	C	0.02%
	MIDD	D	0.02%
	WLK	D	0.02%
	CNX	B	0.02%
	FTI	D	0.02%
	CAR	F	0.02%
	GXO	D	0.02%
	BECN	D	0.02%
	LECO	F	0.02%
	SM	F	0.02%
	ICLR	D	0.02%
	WERN	D	0.02%
	CC	F	0.02%
	LULU	D	0.02%
	XRAY	D	0.02%
	PENN	D	0.02%
	FLO	C	0.02%
	PRGO	D	0.02%
	REZI	D	0.02%
	MKSI	F	0.02%
	SQ	D	0.02%
	DAR	F	0.02%
	CHK	D	0.02%
	TGNA	D	0.02%
	TKR	D	0.02%
	CYH	B	0.02%
	TTC	D	0.02%
	HUBG	C	0.02%
	AL	D	0.02%
	KBR	D	0.02%
	FCNCA	D	0.02%
	ACI	F	0.02%
	CRI	D	0.02%
	TPX	C	0.02%
	POR	C	0.02%
	ASGN	D	0.02%
	JWN	C	0.02%
	GGG	C	0.02%
	MUR	F	0.02%
	UHAL	A	0.02%
	RUSHA	C	0.02%
	ASO	C	0.02%
	NFG	B	0.02%
	PAG	D	0.02%
	XRX	D	0.02%
	BTU	D	0.02%
	NVT	D	0.02%
	NAVI	C	0.02%
	HRB	C	0.02%
	QRTEA	F	0.02%
	WPC	C	0.02%
	ST	D	0.02%
	DCI	C	0.02%
	GLPI	C	0.02%
	MPW	C	0.02%
	STWD	B	0.02%
	AR	F	0.02%
	NOV	F	0.02%
	POST	C	0.02%
	AXTA	B	0.02%
	ABG	D	0.02%
	ATR	B	0.02%
	BJ	D	0.02%
	ABM	D	0.02%
	PII	D	0.02%
	MDU	C	0.02%
	CPRT	D	0.02%
	PK	D	0.02%
	PRI	B	0.02%
	SEIC	C	0.02%
	EXP	B	0.02%
	G	C	0.02%
	NSIT	D	0.02%
	BRX	B	0.02%
	EHC	C	0.02%
	SEE	D	0.02%
	ALV	F	0.02%
	SNV	C	0.02%
	LSTR	D	0.02%
	THG	B	0.02%
	LAMR	B	0.02%
	HOG	C	0.02%
	SNX	D	0.02%
	HTZ	F	0.01%
	ALK	C	0.01%
	CNXC	F	0.01%
	COHR	C	0.01%
	MATX	B	0.01%
	DELL	D	0.01%
	VSH	F	0.01%
	ANDE	D	0.01%
	DBX	D	0.01%
	MSM	D	0.01%
	ARCH	F	0.01%
	DK	F	0.01%
	JAZZ	D	0.01%
	WTRG	D	0.01%
	VAC	F	0.01%
	CHE	C	0.01%
	MMS	C	0.01%
	AEO	F	0.01%
	ADNT	F	0.01%
	TNL	D	0.01%
	MTN	D	0.01%
	LILAK	D	0.01%
	BLD	D	0.01%
	LEG	D	0.01%
	DAN	F	0.01%
	ODP	F	0.01%
	SPTN	C	0.01%
	NOW	B	0.01%
	BIG	F	0.0%

FNDX Underweight 27 Positions Relative to IVE

	Symbol	Grade	Weight
	FI	A	-0.24%
	COR	D	-0.19%
	ABNB	D	-0.13%
	VLTO	C	-0.12%
	CSGP	D	-0.09%
	LH	C	-0.09%
	UAL	C	-0.08%
	GEN	B	-0.07%
	RVTY	B	-0.07%
	TECH	C	-0.06%
	COO	B	-0.06%
	MTCH	C	-0.05%
	ENPH	D	-0.05%
	MKTX	C	-0.05%
	INCY	C	-0.05%
	PODD	B	-0.05%
	DXCM	F	-0.05%
	ROL	C	-0.04%
	PTC	D	-0.04%
	FRT	C	-0.04%
	FDS	C	-0.04%
	BIO	C	-0.03%
	ETSY	F	-0.02%
	DAY	D	-0.02%
	PAYC	D	-0.02%
	FOX	B	-0.02%
	NWS	D	-0.01%

FNDX: Top Represented Industries & Keywords

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

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

IVE: Top Represented Industries & Keywords

Industries: Diversified Industrials Utilities - Regulated Electric Diagnostics & Research Business Services Asset Management Banks - Regional - US Capital Markets Packaged Foods Semiconductors Drug Manufacturers - Major Medical Devices Medical Instruments & Supplies Specialty Retail Aerospace & Defense Credit Services Health Care Plans Household & Personal Products Insurance - Property & Casualty Oil & Gas E&P REIT - Residential

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