FNDX vs. PTL ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to Northern Lights Fund Trust IV Inspire 500 ETF (PTL)

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

$24.31

Average Daily Volume

1,155,219

Number of Holdings ^*

721

* may have additional holdings in another (foreign) market

PTL

Northern Lights Fund Trust IV Inspire 500 ETF

PTL Description

PTL is passively managed to invest in US large-cap stocks that align with the issuer's definition of biblical values and positive impact on the world, measured using various environmental, social, and governance criteria. The index provider analyzes publicly available and third-party data to assign a proprietary Impact Score to each eligible stock. The methodology excludes stocks with any degree of involvement in activities such as abortion, gambling, alcohol, tobacco, cannabis, stem cell research, in vitro fertilization, pornography, rights violations, and LGBT activism. The remaining stocks are scored based on how well they align with the issuer's values, considering factors including business ethics, employee wellbeing, customer welfare, product safety, ecological impact, and GHG emissions. The index selects the 500 highest-scoring stocks and weights them by market capitalization. Index components are reconstituted and rebalanced annually.

Grade (RS Rating)

Last Trade

$218.66

Average Daily Volume

6,656

Number of Holdings ^*

478

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	PTL
30 Days	0.41%	0.59%
60 Days	3.02%	3.83%
90 Days	5.52%	5.99%
12 Months	27.57%

300 Overlapping Holdings

Symbol	Grade	Weight in FNDX	Weight in PTL	Overlap
AA	A	0.06%	0.07%	0.06%
ACI	C	0.03%	0.08%	0.03%
ADM	D	0.21%	0.18%	0.18%
ADP	B	0.15%	0.88%	0.15%
AEE	A	0.07%	0.16%	0.07%
AFG	A	0.05%	0.08%	0.05%
AFL	C	0.21%	0.42%	0.21%
AGCO	F	0.03%	0.05%	0.03%
AIG	C	0.28%	0.34%	0.28%
ALB	B	0.03%	0.08%	0.03%
ALGN	D	0.02%	0.12%	0.02%
ALSN	B	0.05%	0.07%	0.05%
AME	A	0.05%	0.31%	0.05%
AN	D	0.05%	0.04%	0.04%
ANET	C	0.04%	0.85%	0.04%
ANSS	B	0.02%	0.21%	0.02%
AOS	F	0.02%	0.07%	0.02%
APA	F	0.03%	0.06%	0.03%
APH	B	0.09%	0.6%	0.09%
AR	B	0.03%	0.06%	0.03%
ARE	F	0.03%	0.14%	0.03%
ARW	F	0.08%	0.04%	0.04%
ATO	A	0.04%	0.15%	0.04%
ATR	B	0.02%	0.08%	0.02%
AVGO	C	0.61%	5.58%	0.61%
AWK	C	0.04%	0.18%	0.04%
AXTA	B	0.02%	0.06%	0.02%
AYI	B	0.04%	0.07%	0.04%
AZO	C	0.06%	0.36%	0.06%
BAX	F	0.07%	0.12%	0.07%
BERY	D	0.04%	0.05%	0.04%
BG	D	0.1%	0.09%	0.09%
BJ	B	0.02%	0.08%	0.02%
BKR	B	0.16%	0.3%	0.16%
BLD	F	0.01%	0.08%	0.01%
BLDR	D	0.06%	0.15%	0.06%
BRO	B	0.02%	0.22%	0.02%
BRX	A	0.02%	0.06%	0.02%
BWA	D	0.05%	0.05%	0.05%
BXP	D	0.05%	0.09%	0.05%
CACI	C	0.03%	0.08%	0.03%
CAG	F	0.06%	0.09%	0.06%
CASY	A	0.05%	0.1%	0.05%
CAT	C	0.41%	1.24%	0.41%
CBOE	C	0.01%	0.15%	0.01%
CCI	C	0.09%	0.3%	0.09%
CCK	D	0.04%	0.08%	0.04%
CDW	F	0.04%	0.18%	0.04%
CEG	C	0.1%	0.4%	0.1%
CF	A	0.07%	0.1%	0.07%
CHE	F	0.01%	0.06%	0.01%
CHRW	B	0.08%	0.08%	0.08%
CIEN	B	0.03%	0.07%	0.03%
CINF	A	0.07%	0.16%	0.07%
CMS	C	0.06%	0.14%	0.06%
CNP	A	0.06%	0.13%	0.06%
COHR	B	0.02%	0.11%	0.02%
COR	B	0.02%	0.34%	0.02%
CPAY	A	0.06%	0.18%	0.06%
CPB	D	0.03%	0.1%	0.03%
CPRT	B	0.03%	0.38%	0.03%
CPT	C	0.02%	0.09%	0.02%
CRBG	B	0.04%	0.12%	0.04%
CSL	C	0.05%	0.14%	0.05%
CSX	C	0.22%	0.49%	0.22%
CTAS	B	0.08%	0.62%	0.08%
CTRA	B	0.03%	0.13%	0.03%
CW	B	0.03%	0.1%	0.03%
DAL	A	0.03%	0.27%	0.03%
DCI	B	0.02%	0.06%	0.02%
DECK	A	0.03%	0.19%	0.03%
DG	F	0.08%	0.12%	0.08%
DHI	D	0.16%	0.38%	0.16%
DINO	D	0.05%	0.06%	0.05%
DLR	A	0.08%	0.41%	0.08%
DLTR	F	0.05%	0.1%	0.05%
DOC	D	0.03%	0.1%	0.03%
DOV	B	0.06%	0.19%	0.06%
DOX	D	0.04%	0.07%	0.04%
DTE	C	0.07%	0.17%	0.07%
DVA	C	0.06%	0.09%	0.06%
DVN	F	0.09%	0.17%	0.09%
ED	C	0.12%	0.23%	0.12%
EFX	F	0.03%	0.24%	0.03%
EHC	B	0.02%	0.07%	0.02%
ELV	F	0.36%	0.69%	0.36%
EME	A	0.06%	0.16%	0.06%
EMR	A	0.17%	0.49%	0.17%
EOG	A	0.23%	0.54%	0.23%
EPAM	C	0.02%	0.1%	0.02%
EQR	C	0.05%	0.2%	0.05%
ES	C	0.08%	0.15%	0.08%
ESS	A	0.03%	0.14%	0.03%
ETR	A	0.12%	0.21%	0.12%
EVR	B	0.04%	0.08%	0.04%
EVRG	A	0.07%	0.1%	0.07%
EW	C	0.04%	0.28%	0.04%
EWBC	A	0.03%	0.1%	0.03%
EXC	C	0.17%	0.25%	0.17%
EXP	B	0.03%	0.07%	0.03%
EXPD	D	0.04%	0.11%	0.04%
EXR	C	0.03%	0.24%	0.03%
FANG	D	0.05%	0.39%	0.05%
FAST	B	0.07%	0.33%	0.07%
FBIN	F	0.04%	0.06%	0.04%
FCNCA	A	0.02%	0.23%	0.02%
FCX	F	0.14%	0.4%	0.14%
FDX	B	0.32%	0.54%	0.32%
FE	C	0.09%	0.16%	0.09%
FFIV	B	0.03%	0.1%	0.03%
FHN	A	0.03%	0.08%	0.03%
FLEX	B	0.06%	0.1%	0.06%
FLR	B	0.03%	0.06%	0.03%
FSLR	F	0.01%	0.13%	0.01%
FTNT	B	0.03%	0.51%	0.03%
FYBR	C	0.04%	0.06%	0.04%
G	B	0.03%	0.06%	0.03%
GAP	D	0.04%	0.05%	0.04%
GEHC	D	0.09%	0.26%	0.09%
GEN	B	0.04%	0.13%	0.04%
GEV	A	0.04%	0.58%	0.04%
GGG	B	0.02%	0.1%	0.02%
GL	C	0.03%	0.07%	0.03%
GNRC	B	0.02%	0.07%	0.02%
GNTX	F	0.03%	0.05%	0.03%
GPC	F	0.05%	0.12%	0.05%
GPK	D	0.03%	0.06%	0.03%
HAL	C	0.06%	0.19%	0.06%
HD	A	0.8%	2.68%	0.8%
HOLX	D	0.04%	0.13%	0.04%
HST	D	0.04%	0.09%	0.04%
HUBB	B	0.03%	0.16%	0.03%
ICE	C	0.11%	0.62%	0.11%
IDXX	F	0.02%	0.25%	0.02%
IEX	B	0.03%	0.12%	0.03%
IFF	D	0.05%	0.16%	0.05%
INVH	D	0.03%	0.15%	0.03%
IP	A	0.17%	0.14%	0.14%
IQV	F	0.07%	0.28%	0.07%
IR	B	0.03%	0.29%	0.03%
ISRG	A	0.09%	1.32%	0.09%
ITT	A	0.03%	0.08%	0.03%
J	D	0.05%	0.12%	0.05%
JAZZ	C	0.01%	0.05%	0.01%
JBHT	C	0.05%	0.14%	0.05%
JBL	C	0.06%	0.1%	0.06%
JEF	A	0.06%	0.11%	0.06%
JKHY	D	0.02%	0.09%	0.02%
JNPR	D	0.05%	0.09%	0.05%
KBR	F	0.02%	0.06%	0.02%
KEYS	C	0.04%	0.19%	0.04%
KLAC	F	0.08%	0.62%	0.08%
KMI	A	0.23%	0.41%	0.23%
KMX	C	0.06%	0.08%	0.06%
KNX	B	0.04%	0.06%	0.04%
KVUE	A	0.05%	0.31%	0.05%
L	A	0.05%	0.13%	0.05%
LAD	B	0.07%	0.06%	0.06%
LAMR	D	0.02%	0.09%	0.02%
LECO	C	0.02%	0.08%	0.02%
LEN	D	0.16%	0.32%	0.16%
LH	B	0.09%	0.14%	0.09%
LII	A	0.03%	0.16%	0.03%
LIN	D	0.33%	1.5%	0.33%
LNG	A	0.06%	0.34%	0.06%
LOW	C	0.43%	1.03%	0.43%
LPX	B	0.04%	0.05%	0.04%
LSTR	D	0.03%	0.05%	0.03%
LW	C	0.02%	0.08%	0.02%
LYB	F	0.14%	0.19%	0.14%
MAA	A	0.03%	0.13%	0.03%
MAS	D	0.05%	0.12%	0.05%
MCHP	F	0.05%	0.25%	0.05%
MHK	D	0.06%	0.06%	0.06%
MIDD	D	0.02%	0.05%	0.02%
MKC	D	0.03%	0.14%	0.03%
MKL	A	0.05%	0.15%	0.05%
MKSI	C	0.02%	0.06%	0.02%
MLI	B	0.03%	0.07%	0.03%
MLM	B	0.04%	0.26%	0.04%
MNST	C	0.05%	0.38%	0.05%
MOH	F	0.05%	0.13%	0.05%
MRO	A	0.09%	0.12%	0.09%
MRVL	B	0.04%	0.58%	0.04%
MSCI	B	0.03%	0.32%	0.03%
MTD	F	0.03%	0.18%	0.03%
MTH	D	0.03%	0.05%	0.03%
MTN	C	0.02%	0.05%	0.02%
MTZ	A	0.03%	0.08%	0.03%
MUSA	B	0.04%	0.08%	0.04%
NDSN	D	0.02%	0.1%	0.02%
NEE	C	0.24%	1.03%	0.24%
NEM	D	0.13%	0.33%	0.13%
NI	A	0.05%	0.11%	0.05%
NRG	B	0.1%	0.12%	0.1%
NSC	B	0.21%	0.43%	0.21%
NTAP	C	0.07%	0.17%	0.07%
NUE	D	0.19%	0.25%	0.19%
NVR	D	0.08%	0.19%	0.08%
NWSA	B	0.04%	0.12%	0.04%
OC	A	0.07%	0.12%	0.07%
ODFL	B	0.06%	0.35%	0.06%
OGE	A	0.03%	0.06%	0.03%
OKE	A	0.14%	0.45%	0.14%
ON	F	0.04%	0.21%	0.04%
ORI	A	0.05%	0.07%	0.05%
ORLY	B	0.11%	0.49%	0.11%
OTIS	C	0.05%	0.25%	0.05%
OVV	C	0.06%	0.08%	0.06%
OXY	F	0.11%	0.33%	0.11%
PAG	B	0.02%	0.07%	0.02%
PANW	B	0.03%	0.89%	0.03%
PAYX	B	0.06%	0.37%	0.06%
PCAR	C	0.15%	0.43%	0.15%
PCG	A	0.03%	0.31%	0.03%
PEG	C	0.11%	0.28%	0.11%
PFGC	B	0.06%	0.09%	0.06%
PGR	B	0.23%	1.07%	0.23%
PH	B	0.13%	0.62%	0.13%
PHM	D	0.11%	0.19%	0.11%
PKG	B	0.07%	0.15%	0.07%
PLD	D	0.07%	0.74%	0.07%
PNW	B	0.04%	0.07%	0.04%
POOL	D	0.02%	0.09%	0.02%
POST	C	0.02%	0.04%	0.02%
PRI	A	0.03%	0.07%	0.03%
PSA	C	0.05%	0.4%	0.05%
PWR	A	0.07%	0.32%	0.07%
QCOM	F	0.43%	1.3%	0.43%
QRVO	F	0.03%	0.04%	0.03%
REG	A	0.02%	0.1%	0.02%
REGN	F	0.1%	0.69%	0.1%
RF	A	0.09%	0.17%	0.09%
RGA	B	0.04%	0.11%	0.04%
RHI	C	0.04%	0.05%	0.04%
RMD	C	0.03%	0.25%	0.03%
ROP	C	0.05%	0.42%	0.05%
RPM	B	0.04%	0.12%	0.04%
RRX	B	0.03%	0.08%	0.03%
RS	B	0.09%	0.12%	0.09%
RSG	A	0.06%	0.46%	0.06%
RVTY	D	0.03%	0.1%	0.03%
SAIC	F	0.02%	0.05%	0.02%
SBAC	D	0.02%	0.16%	0.02%
SCI	A	0.03%	0.09%	0.03%
SEIC	B	0.03%	0.07%	0.03%
SFM	A	0.05%	0.1%	0.05%
SHW	C	0.08%	0.67%	0.08%
SLB	C	0.12%	0.45%	0.12%
SNA	B	0.06%	0.13%	0.06%
SNPS	C	0.03%	0.6%	0.03%
SOLV	F	0.02%	0.09%	0.02%
SPG	A	0.1%	0.4%	0.1%
SSNC	C	0.04%	0.13%	0.04%
STE	D	0.03%	0.15%	0.03%
STLD	B	0.11%	0.15%	0.11%
STWD	C	0.02%	0.05%	0.02%
SUI	C	0.02%	0.11%	0.02%
SWKS	F	0.04%	0.1%	0.04%
SYY	D	0.1%	0.25%	0.1%
TER	F	0.04%	0.12%	0.04%
THC	C	0.07%	0.11%	0.07%
TMHC	B	0.04%	0.05%	0.04%
TOL	B	0.06%	0.11%	0.06%
TPX	B	0.02%	0.07%	0.02%
TRGP	A	0.07%	0.31%	0.07%
TRMB	B	0.03%	0.12%	0.03%
TSCO	D	0.06%	0.2%	0.06%
TSN	B	0.2%	0.16%	0.16%
TTC	F	0.02%	0.06%	0.02%
TTWO	A	0.03%	0.23%	0.03%
UDR	C	0.02%	0.1%	0.02%
UFPI	C	0.04%	0.06%	0.04%
UHAL	D	0.02%	0.09%	0.02%
UHS	D	0.08%	0.1%	0.08%
UPS	C	0.28%	0.75%	0.28%
URI	B	0.13%	0.39%	0.13%
USFD	A	0.08%	0.11%	0.08%
VLO	C	0.39%	0.31%	0.31%
VMC	B	0.05%	0.26%	0.05%
VNO	C	0.05%	0.06%	0.05%
VRSK	B	0.04%	0.28%	0.04%
VST	A	0.16%	0.26%	0.16%
VTR	B	0.08%	0.18%	0.08%
WCC	B	0.04%	0.07%	0.04%
WDC	F	0.12%	0.15%	0.12%
WEC	A	0.08%	0.21%	0.08%
WELL	A	0.1%	0.57%	0.1%
WLK	F	0.02%	0.11%	0.02%
WM	B	0.15%	0.61%	0.15%
WPC	C	0.02%	0.09%	0.02%
WRB	B	0.03%	0.16%	0.03%
WSM	D	0.04%	0.11%	0.04%
WSO	A	0.03%	0.15%	0.03%
WST	D	0.02%	0.17%	0.02%
WTRG	B	0.01%	0.07%	0.01%
WY	D	0.09%	0.15%	0.09%
XOM	B	1.99%	3.7%	1.99%
YUM	D	0.08%	0.25%	0.08%
ZION	B	0.06%	0.06%	0.06%

FNDX Overweight 421 Positions Relative to PTL

Symbol	Grade	Weight
AAPL	C	4.35%
MSFT	D	2.43%
BRK.A	B	2.17%
JPM	A	2.03%
META	C	1.79%
AMZN	B	1.56%
WMT	A	1.47%
WFC	A	1.35%
GOOGL	B	1.33%
BAC	A	1.3%
T	A	1.27%
CVX	A	1.25%
UNH	C	1.22%
GOOG	B	1.14%
VZ	C	1.13%
C	B	1.1%
INTC	C	0.89%
JNJ	D	0.89%
CMCSA	B	0.83%
CSCO	B	0.82%
GM	B	0.79%
PG	C	0.77%
CVS	F	0.68%
PFE	F	0.68%
COST	A	0.66%
LUMN	C	0.65%
GS	B	0.62%
IBM	C	0.54%
ORCL	A	0.5%
ABBV	F	0.49%
PM	A	0.48%
COF	B	0.48%
CI	D	0.48%
COP	B	0.48%
MS	A	0.46%
BMY	A	0.45%
DIS	B	0.45%
MRK	F	0.42%
PEP	F	0.41%
MPC	D	0.4%
NVDA	A	0.4%
AMGN	D	0.39%
MU	D	0.38%
TGT	B	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%
AXP	B	0.36%
V	A	0.36%
CHTR	B	0.35%
KO	D	0.35%
MMM	D	0.35%
UNP	D	0.35%
RTX	D	0.34%
SYF	B	0.34%
ABT	A	0.34%
TXN	C	0.34%
MCD	D	0.34%
F	C	0.33%
USB	B	0.32%
TRV	A	0.31%
DUK	C	0.3%
KR	B	0.3%
PNC	B	0.3%
MA	B	0.29%
TSLA	A	0.28%
BLK	B	0.28%
SBUX	A	0.28%
ALL	A	0.27%
DFS	B	0.26%
MET	A	0.26%
SO	C	0.26%
CB	C	0.26%
BK	B	0.26%
TMO	F	0.25%
TMUS	B	0.25%
AMAT	F	0.24%
BKNG	A	0.24%
TFC	A	0.23%
ETN	B	0.23%
DE	C	0.23%
PYPL	B	0.22%
TJX	A	0.22%
PRU	B	0.22%
HPQ	B	0.21%
GD	D	0.21%
HPE	B	0.21%
ADBE	D	0.2%
MDLZ	F	0.2%
NOC	D	0.2%
LLY	F	0.2%
HCA	F	0.2%
CTSH	C	0.19%
HUM	D	0.19%
NKE	F	0.19%
CMI	A	0.19%
CNC	F	0.19%
DOW	F	0.18%
WMB	A	0.17%
WBA	F	0.17%
NFLX	A	0.17%
EBAY	D	0.17%
D	C	0.17%
DD	D	0.17%
AEP	C	0.16%
BBY	D	0.16%
LHX	B	0.16%
JCI	B	0.16%
MDT	D	0.16%
DHR	D	0.15%
AMP	A	0.15%
SPGI	D	0.15%
LRCX	F	0.15%
ITW	B	0.15%
CRM	B	0.15%
GE	D	0.15%
MMC	D	0.14%
GLW	B	0.14%
HIG	B	0.14%
CL	D	0.13%
APD	A	0.13%
SCHW	A	0.13%
FITB	B	0.13%
SYK	A	0.13%
TROW	B	0.13%
BX	A	0.13%
ADI	D	0.13%
AON	B	0.13%
SRE	A	0.13%
CBRE	B	0.13%
FI	A	0.13%
FIS	C	0.12%
CARR	D	0.12%
KKR	A	0.12%
XEL	A	0.12%
MTB	A	0.11%
PARA	D	0.11%
MCK	A	0.11%
BDX	F	0.11%
PPL	A	0.11%
BA	D	0.11%
INTU	B	0.11%
AMT	D	0.11%
GIS	F	0.11%
EIX	C	0.1%
ALLY	C	0.1%
FOXA	B	0.1%
KMB	C	0.1%
VTRS	A	0.1%
STT	B	0.1%
KEY	B	0.1%
CFG	B	0.1%
GPN	C	0.09%
SW	A	0.09%
STX	D	0.09%
BIIB	F	0.09%
EA	A	0.09%
CTVA	C	0.09%
PFG	C	0.09%
BSX	A	0.09%
MAR	B	0.09%
AMD	F	0.09%
KHC	F	0.09%
EMN	D	0.08%
HBAN	B	0.08%
NTRS	A	0.08%
WHR	B	0.08%
OMC	C	0.08%
CME	A	0.08%
GWW	B	0.08%
PPG	F	0.08%
WKC	D	0.08%
EQIX	A	0.08%
ECL	D	0.08%
JLL	D	0.08%
WBD	B	0.08%
K	B	0.07%
VFC	C	0.07%
MSI	B	0.07%
HWM	A	0.07%
SWK	F	0.07%
CMA	B	0.07%
WTW	B	0.07%
DGX	A	0.07%
MCO	D	0.07%
STZ	D	0.07%
CAH	B	0.07%
R	B	0.07%
KDP	D	0.07%
X	C	0.07%
ZTS	D	0.07%
AVT	C	0.07%
ROST	D	0.07%
LDOS	C	0.07%
VRTX	D	0.07%
HES	B	0.06%
M	D	0.06%
MGM	D	0.06%
TXT	D	0.06%
ROK	B	0.06%
BALL	D	0.06%
UNM	A	0.06%
OMF	A	0.06%
CCL	A	0.06%
IRM	C	0.06%
HLT	A	0.06%
TT	A	0.06%
FNF	A	0.06%
WAB	B	0.06%
TDG	D	0.06%
KSS	F	0.06%
MOS	D	0.06%
ACM	B	0.05%
INGR	B	0.05%
ZBH	C	0.05%
NXPI	F	0.05%
IVZ	C	0.05%
AES	F	0.05%
DRI	C	0.05%
AJG	B	0.05%
KD	A	0.05%
AVB	B	0.05%
DXC	D	0.05%
LEA	F	0.05%
EQH	B	0.05%
TDS	B	0.05%
GPI	B	0.05%
TPR	B	0.05%
RJF	A	0.05%
LKQ	F	0.05%
SJM	D	0.05%
BFH	B	0.05%
LNC	B	0.05%
A	F	0.05%
TAP	B	0.05%
O	C	0.04%
UBER	F	0.04%
BCC	C	0.04%
EXPE	B	0.04%
OSK	C	0.04%
AVY	D	0.04%
AMG	C	0.04%
IPG	F	0.04%
ZIM	A	0.04%
LVS	B	0.04%
PNR	B	0.04%
CMG	C	0.04%
HSY	F	0.04%
CNO	B	0.04%
CLX	A	0.04%
SLM	B	0.04%
WAT	C	0.04%
ZBRA	B	0.04%
DKS	D	0.04%
GT	C	0.04%
HSIC	C	0.04%
CHD	A	0.04%
LNT	A	0.04%
FAF	C	0.04%
LPLA	A	0.04%
PVH	C	0.04%
BEN	C	0.04%
THO	C	0.04%
OGN	F	0.04%
JXN	C	0.04%
MAN	F	0.04%
EQT	A	0.04%
UGI	C	0.04%
DELL	B	0.03%
SEE	D	0.03%
THG	A	0.03%
FMC	D	0.03%
MRNA	F	0.03%
ACGL	D	0.03%
TDY	B	0.03%
AAP	D	0.03%
TRU	D	0.03%
BTU	C	0.03%
SQ	A	0.03%
BBWI	C	0.03%
KBH	D	0.03%
BURL	A	0.03%
ILMN	C	0.03%
TPH	D	0.03%
GDDY	A	0.03%
SNX	D	0.03%
BC	D	0.03%
APO	A	0.03%
ABG	B	0.03%
SNV	B	0.03%
KIM	A	0.03%
VOYA	B	0.03%
AMCR	D	0.03%
ARMK	C	0.03%
AIZ	A	0.03%
CAR	C	0.03%
HAS	D	0.03%
AKAM	F	0.03%
FL	F	0.03%
RL	C	0.03%
JHG	B	0.03%
CLF	F	0.03%
HII	F	0.03%
HRL	D	0.03%
XYL	D	0.03%
NDAQ	A	0.03%
WU	F	0.03%
ULTA	F	0.03%
GNW	A	0.03%
NXST	C	0.03%
GRMN	B	0.03%
CG	B	0.03%
HUN	F	0.03%
EL	F	0.03%
CMC	B	0.03%
OLN	F	0.03%
IT	C	0.03%
DPZ	C	0.03%
BAH	D	0.03%
FTV	D	0.03%
CE	F	0.03%
CDNS	B	0.03%
PBF	D	0.03%
ADSK	B	0.03%
SANM	B	0.03%
NWL	B	0.03%
HBI	B	0.03%
BR	B	0.03%
MDU	D	0.02%
ODP	F	0.02%
EG	D	0.02%
ALV	C	0.02%
ALK	A	0.02%
ADNT	F	0.02%
FLO	D	0.02%
MPW	F	0.02%
MATX	B	0.02%
LEG	F	0.02%
BPOP	C	0.02%
CHKP	D	0.02%
TFX	F	0.02%
ARCH	B	0.02%
TKR	F	0.02%
AER	B	0.02%
NSIT	F	0.02%
POR	C	0.02%
VAC	C	0.02%
XRX	F	0.02%
ASO	F	0.02%
GLPI	C	0.02%
WERN	B	0.02%
OI	D	0.02%
NFG	A	0.02%
ASGN	F	0.02%
NAVI	F	0.02%
SM	C	0.02%
CZR	F	0.02%
CCEP	D	0.02%
ST	F	0.02%
AL	B	0.02%
MUR	F	0.02%
PII	F	0.02%
HUBG	A	0.02%
SLG	B	0.02%
GXO	B	0.02%
CTLT	D	0.02%
PENN	C	0.02%
HOG	F	0.02%
APTV	F	0.02%
NOV	D	0.02%
NVT	C	0.02%
AVTR	F	0.02%
BECN	B	0.02%
SKX	F	0.02%
CC	D	0.02%
CNH	C	0.02%
PK	D	0.02%
VICI	C	0.02%
MTG	D	0.02%
ABM	B	0.02%
DAR	B	0.02%
RUSHA	B	0.02%
REZI	A	0.02%
TGNA	B	0.02%
BAP	A	0.02%
SON	F	0.02%
LUV	B	0.02%
VSH	F	0.01%
ANDE	F	0.01%
LILAK	F	0.01%
CNXC	F	0.01%
CRL	D	0.01%
VRSN	F	0.01%
DBX	C	0.01%
ICLR	F	0.01%
MSM	D	0.01%
SPTN	F	0.01%
MMS	D	0.01%
AEO	F	0.01%
CYH	F	0.01%
NOW	B	0.01%
TNL	B	0.01%
PRGO	C	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	D	0.01%
DK	D	0.01%
HTZ	C	0.01%
DAN	F	0.01%
LULU	C	0.01%
UNFI	B	0.01%
CRI	F	0.01%
CNX	A	0.01%
CPRI	F	0.01%

FNDX Underweight 178 Positions Relative to PTL

Symbol	Grade	Weight
PLTR	A	-0.93%
APP	A	-0.67%
COIN	A	-0.54%
IBKR	A	-0.51%
SCCO	F	-0.51%
TTD	B	-0.45%
MSTR	A	-0.43%
FICO	B	-0.4%
CVNA	A	-0.33%
VRT	A	-0.3%
CPNG	D	-0.3%
SNOW	C	-0.29%
DDOG	A	-0.29%
VEEV	C	-0.28%
CSGP	F	-0.23%
TPL	A	-0.23%
NET	B	-0.22%
OWL	A	-0.22%
RKT	F	-0.22%
DXCM	C	-0.22%
ZS	B	-0.22%
MPWR	F	-0.21%
IOT	A	-0.2%
TW	A	-0.19%
TYL	B	-0.18%
ROL	B	-0.17%
VLTO	C	-0.17%
MDB	C	-0.16%
GFS	C	-0.16%
AFRM	A	-0.15%
TOST	A	-0.15%
ERIE	F	-0.15%
TKO	A	-0.14%
UI	A	-0.14%
NTNX	B	-0.13%
XPO	B	-0.13%
PODD	B	-0.13%
SMMT	D	-0.12%
MANH	D	-0.12%
UTHR	C	-0.12%
RYAN	B	-0.12%
SAIA	C	-0.11%
GWRE	A	-0.11%
INCY	C	-0.11%
RPRX	F	-0.11%
CHWY	B	-0.11%
DT	C	-0.11%
FIX	A	-0.11%
DOCU	B	-0.11%
ENTG	F	-0.11%
BSY	D	-0.11%
AGR	A	-0.1%
SN	D	-0.1%
ELS	B	-0.1%
AMH	C	-0.1%
CLH	C	-0.1%
INSM	C	-0.09%
TXRH	B	-0.09%
MEDP	D	-0.09%
TTEK	F	-0.09%
PCVX	D	-0.09%
PR	B	-0.09%
HLI	B	-0.09%
EDR	A	-0.09%
NBIX	C	-0.09%
SMCI	F	-0.09%
OKTA	D	-0.09%
PAYC	B	-0.09%
APG	C	-0.08%
GMED	A	-0.08%
LBRDA	C	-0.08%
PPC	B	-0.08%
PCTY	B	-0.08%
SF	B	-0.08%
ESTC	C	-0.07%
REXR	F	-0.07%
FRT	B	-0.07%
CFLT	B	-0.07%
DTM	A	-0.07%
PEN	B	-0.07%
ITCI	B	-0.07%
UWMC	D	-0.07%
GME	C	-0.07%
CR	A	-0.07%
PNFP	B	-0.07%
WING	D	-0.07%
WMS	F	-0.07%
RVMD	B	-0.07%
GTLB	B	-0.07%
HLNE	A	-0.07%
PCOR	C	-0.07%
AIT	B	-0.07%
BWXT	A	-0.07%
COKE	C	-0.07%
AAON	B	-0.07%
WAL	B	-0.07%
MKTX	D	-0.07%
BIO	C	-0.07%
OHI	B	-0.07%
WBS	A	-0.07%
EXEL	B	-0.07%
FND	F	-0.07%
KNSL	B	-0.07%
CUBE	C	-0.07%
RRC	B	-0.06%
PB	A	-0.06%
TREX	D	-0.06%
OLED	F	-0.06%
HESM	A	-0.06%
RGEN	F	-0.06%
BRKR	F	-0.06%
PLNT	A	-0.06%
HQY	A	-0.06%
CHRD	F	-0.06%
CRS	A	-0.06%
ONTO	F	-0.06%
APPF	C	-0.06%
SSB	B	-0.06%
EGP	D	-0.06%
ENPH	F	-0.06%
CNM	C	-0.06%
ALTR	B	-0.06%
FOUR	A	-0.06%
ENSG	D	-0.06%
SUM	B	-0.06%
MTSI	B	-0.06%
ROIV	D	-0.06%
WTFC	B	-0.06%
BRBR	A	-0.06%
KNTK	A	-0.06%
RBC	A	-0.06%
CFR	B	-0.06%
RGLD	C	-0.06%
S	B	-0.06%
COLD	F	-0.05%
ELAN	D	-0.05%
NUVL	D	-0.05%
DLB	F	-0.05%
CELH	F	-0.05%
AMKR	F	-0.05%
SITE	D	-0.05%
WTS	B	-0.05%
U	F	-0.05%
STAG	D	-0.05%
ATI	C	-0.05%
HCP	B	-0.05%
FR	C	-0.05%
CGNX	D	-0.05%
SPSC	F	-0.05%
FCN	F	-0.05%
NPAB	F	-0.05%
VKTX	F	-0.05%
WFRD	F	-0.05%
WEX	F	-0.05%
PATH	C	-0.05%
WSC	F	-0.05%
MSA	D	-0.05%
AM	A	-0.05%
LSCC	D	-0.05%
INFA	D	-0.05%
ADC	A	-0.05%
BOKF	B	-0.05%
AGNC	C	-0.05%
NNN	C	-0.05%
GKOS	A	-0.05%
AUR	C	-0.05%
SSD	D	-0.05%
FRPT	A	-0.05%
KEX	B	-0.05%
RLI	A	-0.05%
LCID	F	-0.04%
IBP	F	-0.04%
LNTH	F	-0.04%
ESNT	D	-0.04%
TRNO	D	-0.04%
SATS	C	-0.04%
BFAM	F	-0.04%
ACHC	F	-0.03%