FNDX vs. SPYV ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to SPDR S&P 500 Value ETF (based on S&P 500 Value Index) (SPYV)

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

SPYV

SPDR S&P 500 Value ETF (based on S&P 500 Value Index)

SPYV Description

The investment seeks to provide investment results that, before fees and expenses, correspond to the total return performance of an index that tracks the performance of large capitalization exchange traded U.S. equity securities exhibiting "value" characteristics. The fund employs a replication strategy in seeking to track the performance of the S&P 500 Value Index. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index measures the performance of the large-capitalization value sector in the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$52.69

Average Daily Volume

3,365,531

Number of Holdings ^*

431

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	SPYV
30 Days	3.09%	3.09%
60 Days	4.23%	4.98%
90 Days	6.97%	7.70%
12 Months	26.34%	25.84%

410 Overlapping Holdings

	Symbol	Grade	Weight in FNDX	Weight in SPYV	Overlap
	A	C	0.06%	0.19%	0.06%
	AAL	D	0.0%	0.03%	0.0%
	ABBV	C	0.6%	1.05%	0.6%
	ABT	C	0.34%	0.99%	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%	0.34%	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%	0.24%	0.24%
	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%	0.26%	0.14%
	BAC	D	1.22%	1.28%	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%	3.97%	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%	0.14%	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%	0.98%	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%	0.18%	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%	0.23%	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%	0.79%	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%	0.43%	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%	0.1%	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%	0.51%	0.18%
	GEHC	C	0.07%	0.18%	0.07%
	GEV	B	0.05%	0.16%	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%	0.74%	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%	0.17%	0.15%
	HII	D	0.04%	0.05%	0.04%
	HOLX	B	0.04%	0.09%	0.04%
	HON	D	0.34%	0.65%	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%	0.08%	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%	0.23%	0.15%
	JKHY	B	0.02%	0.06%	0.02%
	JNJ	C	1.0%	1.93%	1.0%
	JNPR	B	0.05%	0.06%	0.05%
	JPM	D	1.94%	2.88%	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%	0.82%	0.43%
	KR	C	0.3%	0.18%	0.18%
	KVUE	C	0.03%	0.21%	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%	0.7%	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%	0.57%	0.34%
	MCHP	F	0.05%	0.08%	0.05%
	MCK	F	0.1%	0.32%	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%	0.12%	0.12%
	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%	0.13%	0.09%
	MTD	D	0.04%	0.09%	0.04%
	MU	F	0.35%	0.47%	0.35%
	NDAQ	A	0.03%	0.15%	0.03%
	NDSN	C	0.02%	0.07%	0.02%
	NEE	C	0.29%	0.83%	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%	0.28%	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%	0.09%	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%	0.02%	0.02%
	PAYX	C	0.06%	0.12%	0.06%
	PCAR	D	0.13%	0.07%	0.07%
	PCG	C	0.03%	0.2%	0.03%
	PEG	B	0.11%	0.2%	0.11%
	PEP	C	0.45%	0.76%	0.45%
	PFE	C	0.75%	0.8%	0.75%
	PFG	B	0.08%	0.08%	0.08%
	PG	C	0.84%	1.21%	0.84%
	PGR	B	0.26%	0.35%	0.26%
	PH	B	0.12%	0.08%	0.08%
	PKG	B	0.07%	0.09%	0.07%
	PLD	C	0.08%	0.59%	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%	0.11%	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%	0.36%	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%	0.01%	0.01%
	RMD	C	0.04%	0.18%	0.04%
	ROK	D	0.05%	0.07%	0.05%
	ROP	C	0.05%	0.16%	0.05%
	RSG	D	0.07%	0.09%	0.07%
	RTX	C	0.37%	0.78%	0.37%
	SBAC	C	0.02%	0.07%	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%	0.07%	0.07%
	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%	0.19%	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%	0.33%	0.33%
	TJX	B	0.24%	0.23%	0.23%
	TMO	B	0.29%	0.71%	0.29%
	TMUS	C	0.24%	0.51%	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%	0.08%	0.06%
	TSN	C	0.2%	0.09%	0.09%
	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%	1.63%	1.25%
	UNP	C	0.4%	0.41%	0.4%
	UPS	D	0.25%	0.46%	0.25%
	USB	B	0.3%	0.33%	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%	0.08%	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%	0.87%	0.87%
	WM	D	0.15%	0.2%	0.15%
	WMB	B	0.15%	0.16%	0.15%
	WMT	C	1.51%	1.65%	1.51%
	WRB	C	0.04%	0.08%	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%	2.43%	1.92%
	XYL	C	0.04%	0.15%	0.04%
	YUM	D	0.08%	0.1%	0.08%
	ZBH	F	0.05%	0.1%	0.05%
	ZBRA	B	0.04%	0.08%	0.04%
	ZTS	C	0.08%	0.19%	0.08%

FNDX Overweight 308 Positions Relative to SPYV

	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 21 Positions Relative to SPYV

	Symbol	Grade	Weight
	ABNB	D	-0.13%
	VLTO	C	-0.12%
	CSGP	D	-0.09%
	UAL	C	-0.08%
	TECH	C	-0.06%
	MTCH	C	-0.05%
	MKTX	C	-0.05%
	PODD	B	-0.05%
	INCY	C	-0.05%
	DXCM	F	-0.05%
	ROL	C	-0.04%
	PTC	D	-0.04%
	FRT	C	-0.04%
	FDS	C	-0.04%
	ENPH	D	-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

SPYV: Top Represented Industries & Keywords

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

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