FNDX vs. VSLU ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to Applied Finance Valuation Large Cap ETF (VSLU)

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

VSLU

Applied Finance Valuation Large Cap ETF

VSLU Description

ETF Opportunities Trust - Applied Finance Valuation Large Cap ETF is an exchange traded fund launched by ETF Opportunities Trust. The fund is co-managed by Applied Finance Advisors, LLC and Toroso Investments, LLC. It invests in the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors. It invests in value stocks of large-cap companies. The fund employs proprietary research to create its portfolio. ETF Opportunities Trust - Applied Finance Valuation Large Cap ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$35.71

Average Daily Volume

25,837

Number of Holdings ^*

303

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	VSLU
30 Days	3.09%	1.85%
60 Days	4.23%	3.90%
90 Days	6.97%	4.12%
12 Months	26.34%	30.92%

288 Overlapping Holdings

	Symbol	Grade	Weight in FNDX	Weight in VSLU	Overlap
	A	C	0.06%	0.11%	0.06%
	AAPL	C	4.51%	8.39%	4.51%
	ABBV	C	0.6%	2.2%	0.6%
	ABT	C	0.34%	0.36%	0.34%
	ACGL	C	0.05%	0.08%	0.05%
	ACN	C	0.34%	1.0%	0.34%
	ADBE	F	0.22%	0.99%	0.22%
	ADI	C	0.13%	0.19%	0.13%
	ADM	D	0.22%	0.09%	0.09%
	ADP	B	0.15%	0.25%	0.15%
	ADSK	C	0.03%	0.1%	0.03%
	AFL	C	0.23%	0.12%	0.12%
	AIZ	B	0.03%	0.0%	0.0%
	ALLE	B	0.02%	0.05%	0.02%
	AMAT	D	0.25%	0.66%	0.25%
	AMCR	B	0.02%	0.04%	0.02%
	AMT	C	0.14%	0.35%	0.14%
	AMZN	C	1.42%	3.48%	1.42%
	ANET	B	0.04%	0.14%	0.04%
	AON	B	0.13%	0.74%	0.13%
	AOS	D	0.03%	0.01%	0.01%
	APA	F	0.03%	0.04%	0.03%
	APH	D	0.09%	0.12%	0.09%
	ATO	B	0.04%	0.02%	0.02%
	AVB	B	0.06%	0.0%	0.0%
	AVGO	C	0.68%	3.42%	0.68%
	AVY	C	0.04%	0.03%	0.03%
	AZO	D	0.06%	0.44%	0.06%
	BALL	C	0.06%	0.03%	0.03%
	BBWI	F	0.02%	0.02%	0.02%
	BBY	C	0.19%	0.06%	0.06%
	BG	D	0.11%	0.06%	0.06%
	BKNG	C	0.2%	0.62%	0.2%
	BLDR	C	0.04%	0.14%	0.04%
	BMY	C	0.35%	0.74%	0.35%
	BR	D	0.04%	0.03%	0.03%
	BWA	D	0.05%	0.03%	0.03%
	CAG	C	0.07%	0.0%	0.0%
	CAH	C	0.07%	0.06%	0.06%
	CAT	B	0.39%	0.41%	0.39%
	CB	B	0.29%	0.14%	0.14%
	CBOE	C	0.02%	0.09%	0.02%
	CCI	C	0.11%	0.1%	0.1%
	CCL	C	0.05%	0.03%	0.03%
	CDNS	D	0.03%	0.07%	0.03%
	CDW	D	0.06%	0.19%	0.06%
	CE	F	0.06%	0.02%	0.02%
	CF	C	0.06%	0.05%	0.05%
	CHD	D	0.04%	0.05%	0.04%
	CHRW	B	0.07%	0.03%	0.03%
	CHTR	D	0.32%	0.24%	0.24%
	CI	C	0.55%	0.09%	0.09%
	CMA	B	0.06%	0.02%	0.02%
	CMCSA	D	0.75%	0.21%	0.21%
	CMI	C	0.17%	0.11%	0.11%
	CNC	D	0.25%	0.04%	0.04%
	COP	D	0.42%	0.26%	0.26%
	CPAY	B	0.05%	0.22%	0.05%
	CPB	C	0.04%	0.01%	0.01%
	CPT	B	0.02%	0.02%	0.02%
	CRM	D	0.12%	0.19%	0.12%
	CSCO	C	0.73%	0.67%	0.67%
	CSX	D	0.21%	0.21%	0.21%
	CTAS	B	0.09%	0.12%	0.09%
	CTRA	D	0.01%	0.04%	0.01%
	CTSH	C	0.18%	0.08%	0.08%
	CTVA	B	0.09%	0.02%	0.02%
	CVX	D	1.07%	0.53%	0.53%
	CZR	C	0.02%	0.02%	0.02%
	DAL	C	0.02%	0.08%	0.02%
	DECK	C	0.03%	0.02%	0.02%
	DG	F	0.08%	0.09%	0.08%
	DHI	B	0.2%	0.22%	0.2%
	DHR	B	0.17%	0.08%	0.08%
	DLTR	F	0.04%	0.04%	0.04%
	DOC	C	0.04%	0.04%	0.04%
	DOV	B	0.06%	0.07%	0.06%
	DOW	D	0.2%	0.02%	0.02%
	DPZ	F	0.04%	0.12%	0.04%
	DRI	B	0.05%	0.02%	0.02%
	DVA	B	0.07%	0.08%	0.07%
	DVN	F	0.08%	0.07%	0.07%
	EA	D	0.08%	0.06%	0.06%
	EBAY	B	0.19%	0.08%	0.08%
	ED	C	0.13%	0.03%	0.03%
	EFX	B	0.04%	0.08%	0.04%
	ELV	C	0.5%	0.13%	0.13%
	EMN	B	0.08%	0.01%	0.01%
	EOG	D	0.2%	0.16%	0.16%
	EPAM	F	0.02%	0.0%	0.0%
	EQR	B	0.06%	0.02%	0.02%
	ESS	B	0.04%	0.0%	0.0%
	ETN	C	0.21%	0.05%	0.05%
	EW	F	0.04%	0.1%	0.04%
	EXPD	C	0.02%	0.02%	0.02%
	EXPE	C	0.03%	0.05%	0.03%
	FANG	D	0.05%	0.09%	0.05%
	FCX	D	0.13%	0.12%	0.12%
	FDX	C	0.32%	0.07%	0.07%
	FFIV	B	0.03%	0.0%	0.0%
	FIS	B	0.13%	0.12%	0.12%
	FOXA	B	0.09%	0.08%	0.08%
	FTNT	C	0.03%	0.09%	0.03%
	GD	B	0.23%	0.12%	0.12%
	GEHC	C	0.07%	0.07%	0.07%
	GILD	B	0.35%	0.76%	0.35%
	GIS	B	0.13%	0.11%	0.11%
	GL	C	0.03%	0.03%	0.03%
	GLW	C	0.14%	0.07%	0.07%
	GM	C	0.69%	0.19%	0.19%
	GNRC	D	0.02%	0.02%	0.02%
	GOOGL	D	1.22%	5.19%	1.22%
	GPC	D	0.05%	0.07%	0.05%
	GRMN	D	0.05%	0.07%	0.05%
	GWW	B	0.07%	0.12%	0.07%
	HAL	F	0.06%	0.06%	0.06%
	HAS	B	0.04%	0.07%	0.04%
	HCA	B	0.25%	0.37%	0.25%
	HD	B	0.78%	1.1%	0.78%
	HIG	B	0.15%	0.05%	0.05%
	HII	D	0.04%	0.0%	0.0%
	HLT	B	0.06%	0.45%	0.06%
	HOLX	B	0.04%	0.03%	0.03%
	HON	D	0.34%	0.25%	0.25%
	HPE	D	0.18%	0.04%	0.04%
	HPQ	D	0.2%	0.23%	0.2%
	HRL	C	0.03%	0.01%	0.01%
	HST	C	0.04%	0.02%	0.02%
	HSY	C	0.04%	0.15%	0.04%
	HUM	F	0.21%	0.05%	0.05%
	IBM	B	0.61%	0.27%	0.27%
	IDXX	C	0.03%	0.12%	0.03%
	IEX	D	0.02%	0.0%	0.0%
	IP	B	0.15%	0.06%	0.06%
	IPG	C	0.04%	0.04%	0.04%
	IQV	C	0.08%	0.34%	0.08%
	IR	C	0.03%	0.08%	0.03%
	IT	B	0.03%	0.24%	0.03%
	ITW	C	0.15%	0.15%	0.15%
	J	C	0.05%	0.04%	0.04%
	JBHT	D	0.04%	0.03%	0.03%
	JBL	D	0.05%	0.02%	0.02%
	JCI	B	0.15%	0.06%	0.06%
	JKHY	B	0.02%	0.02%	0.02%
	JNJ	C	1.0%	2.06%	1.0%
	JNPR	B	0.05%	0.02%	0.02%
	JPM	D	1.94%	0.63%	0.63%
	K	B	0.07%	0.05%	0.05%
	KDP	B	0.08%	0.1%	0.08%
	KEYS	C	0.03%	0.06%	0.03%
	KHC	C	0.11%	0.08%	0.08%
	KIM	C	0.03%	0.01%	0.01%
	KLAC	D	0.1%	0.62%	0.1%
	KMI	B	0.19%	0.04%	0.04%
	KMX	D	0.07%	0.01%	0.01%
	KO	C	0.43%	0.64%	0.43%
	KR	C	0.3%	0.09%	0.09%
	KVUE	C	0.03%	0.12%	0.03%
	LDOS	B	0.08%	0.09%	0.08%
	LEN	B	0.19%	0.07%	0.07%
	LMT	C	0.4%	0.4%	0.4%
	LOW	B	0.42%	0.64%	0.42%
	LRCX	F	0.16%	0.4%	0.16%
	LULU	D	0.02%	0.07%	0.02%
	LUV	C	0.02%	0.01%	0.01%
	LYB	D	0.16%	0.07%	0.07%
	MA	B	0.28%	5.12%	0.28%
	MAA	B	0.04%	0.02%	0.02%
	MAR	C	0.08%	0.3%	0.08%
	MAS	B	0.06%	0.09%	0.06%
	MCD	B	0.34%	0.55%	0.34%
	MCHP	F	0.05%	0.22%	0.05%
	MCK	F	0.1%	0.55%	0.1%
	MCO	B	0.08%	0.28%	0.08%
	MDLZ	B	0.23%	0.21%	0.21%
	MDT	C	0.27%	0.14%	0.14%
	MET	B	0.26%	0.14%	0.14%
	META	B	1.85%	4.07%	1.85%
	MGM	F	0.05%	0.01%	0.01%
	MHK	C	0.07%	0.02%	0.02%
	MKC	C	0.04%	0.02%	0.02%
	MLM	D	0.04%	0.03%	0.03%
	MMC	C	0.15%	0.24%	0.15%
	MMM	B	0.4%	0.25%	0.25%
	MNST	D	0.04%	0.11%	0.04%
	MO	C	0.39%	0.27%	0.27%
	MOH	D	0.05%	0.05%	0.05%
	MOS	F	0.05%	0.04%	0.04%
	MPC	F	0.41%	0.28%	0.28%
	MRK	D	0.51%	2.06%	0.51%
	MRO	C	0.08%	0.04%	0.04%
	MS	D	0.35%	0.03%	0.03%
	MSFT	C	2.54%	5.62%	2.54%
	MSI	B	0.06%	0.16%	0.06%
	MTD	D	0.04%	0.21%	0.04%
	NFLX	B	0.15%	0.24%	0.15%
	NKE	D	0.18%	0.2%	0.18%
	NOC	B	0.21%	0.14%	0.14%
	NRG	C	0.11%	0.06%	0.06%
	NTAP	D	0.08%	0.05%	0.05%
	NTRS	A	0.07%	0.01%	0.01%
	NUE	F	0.18%	0.09%	0.09%
	NVDA	D	0.38%	7.88%	0.38%
	NVR	B	0.08%	0.13%	0.08%
	NXPI	F	0.08%	0.14%	0.08%
	ODFL	D	0.05%	0.05%	0.05%
	OMC	B	0.08%	0.13%	0.08%
	ON	D	0.04%	0.1%	0.04%
	ORLY	C	0.1%	0.58%	0.1%
	OTIS	C	0.05%	0.24%	0.05%
	PAYX	C	0.06%	0.07%	0.06%
	PEG	B	0.11%	0.03%	0.03%
	PEP	C	0.45%	0.44%	0.44%
	PFG	B	0.08%	0.02%	0.02%
	PG	C	0.84%	0.76%	0.76%
	PH	B	0.12%	0.08%	0.08%
	PHM	B	0.13%	0.16%	0.13%
	PKG	B	0.07%	0.03%	0.03%
	PM	C	0.51%	0.74%	0.51%
	PNC	B	0.29%	0.05%	0.05%
	PNR	B	0.04%	0.05%	0.04%
	POOL	C	0.02%	0.01%	0.01%
	PPG	D	0.08%	0.04%	0.04%
	PSA	B	0.06%	0.09%	0.06%
	PSX	F	0.36%	0.16%	0.16%
	PYPL	B	0.19%	0.22%	0.19%
	QCOM	D	0.47%	0.34%	0.34%
	QRVO	F	0.05%	0.01%	0.01%
	REGN	C	0.16%	0.3%	0.16%
	RF	B	0.08%	0.04%	0.04%
	RHI	D	0.03%	0.02%	0.02%
	RL	C	0.03%	0.0%	0.0%
	ROK	D	0.05%	0.04%	0.04%
	ROP	C	0.05%	0.15%	0.05%
	RTX	C	0.37%	0.17%	0.17%
	SHW	B	0.09%	0.36%	0.09%
	SJM	C	0.06%	0.02%	0.02%
	SNA	C	0.04%	0.04%	0.04%
	SNPS	D	0.03%	0.07%	0.03%
	SPG	B	0.11%	0.18%	0.11%
	SPGI	B	0.15%	0.33%	0.15%
	STE	C	0.03%	0.01%	0.01%
	STLD	F	0.09%	0.07%	0.07%
	STZ	D	0.08%	0.13%	0.08%
	SWKS	D	0.05%	0.04%	0.04%
	SYK	C	0.13%	0.31%	0.13%
	T	C	1.37%	0.28%	0.28%
	TDG	B	0.08%	0.16%	0.08%
	TDY	B	0.02%	0.0%	0.0%
	TEL	D	0.11%	0.04%	0.04%
	TER	D	0.05%	0.03%	0.03%
	TGT	C	0.37%	0.13%	0.13%
	TMO	B	0.29%	0.69%	0.29%
	TMUS	C	0.24%	0.54%	0.24%
	TPR	C	0.04%	0.03%	0.03%
	TRGP	B	0.06%	0.07%	0.06%
	TROW	D	0.11%	0.03%	0.03%
	TRV	C	0.3%	0.03%	0.03%
	TSCO	C	0.06%	0.07%	0.06%
	TT	B	0.09%	0.15%	0.09%
	TXN	C	0.34%	0.53%	0.34%
	TXT	D	0.06%	0.01%	0.01%
	UDR	C	0.03%	0.02%	0.02%
	UHS	B	0.1%	0.02%	0.02%
	ULTA	D	0.03%	0.05%	0.03%
	UNH	C	1.25%	1.07%	1.07%
	UNP	C	0.4%	0.39%	0.39%
	UPS	D	0.25%	0.09%	0.09%
	URI	B	0.12%	0.12%	0.12%
	USB	B	0.3%	0.03%	0.03%
	V	C	0.35%	3.21%	0.35%
	VLO	F	0.38%	0.24%	0.24%
	VRSK	D	0.04%	0.05%	0.04%
	VRSN	D	0.01%	0.13%	0.01%
	VRTX	D	0.08%	0.34%	0.08%
	VTR	C	0.09%	0.04%	0.04%
	VTRS	D	0.1%	0.03%	0.03%
	VZ	B	1.32%	0.41%	0.41%
	WAB	B	0.06%	0.1%	0.06%
	WMT	C	1.51%	1.34%	1.34%
	WRB	C	0.04%	0.04%	0.04%
	WTW	C	0.07%	0.0%	0.0%
	WY	C	0.09%	0.02%	0.02%
	XOM	C	1.92%	0.96%	0.96%
	XYL	C	0.04%	0.02%	0.02%
	YUM	D	0.08%	0.24%	0.08%
	ZBH	F	0.05%	0.02%	0.02%
	ZTS	C	0.08%	0.26%	0.08%

FNDX Overweight 430 Positions Relative to VSLU

	Symbol	Grade	Weight
	BRK.A	C	2.29%
	BAC	D	1.22%
	GOOG	D	1.06%
	WFC	D	1.06%
	C	C	1.04%
	PFE	C	0.75%
	COST	B	0.73%
	CVS	D	0.68%
	INTC	F	0.6%
	LUMN	C	0.57%
	GS	C	0.56%
	AMGN	B	0.48%
	ORCL	C	0.47%
	COF	B	0.39%
	AXP	B	0.37%
	DIS	D	0.37%
	LIN	B	0.35%
	MU	F	0.35%
	DUK	C	0.34%
	F	F	0.31%
	SO	B	0.29%
	NEE	C	0.29%
	ALL	B	0.29%
	AIG	D	0.28%
	LLY	C	0.27%
	SYF	C	0.27%
	SBUX	C	0.27%
	BLK	B	0.26%
	PGR	B	0.26%
	BK	B	0.26%
	TJX	B	0.24%
	PRU	C	0.23%
	DE	B	0.22%
	TFC	C	0.22%
	NSC	C	0.21%
	DFS	B	0.21%
	TSN	C	0.2%
	TSLA	C	0.19%
	D	C	0.19%
	NEM	B	0.19%
	GE	B	0.18%
	EXC	C	0.18%
	DD	B	0.18%
	AEP	C	0.18%
	LHX	C	0.16%
	CL	D	0.16%
	EMR	D	0.15%
	WMB	B	0.15%
	WM	D	0.15%
	WBA	F	0.14%
	BKR	C	0.14%
	BA	F	0.14%
	OKE	B	0.13%
	FITB	B	0.13%
	ICE	C	0.13%
	PCAR	D	0.13%
	CARR	B	0.13%
	WDC	D	0.13%
	XEL	B	0.12%
	SRE	C	0.12%
	AMP	A	0.12%
	CBRE	A	0.12%
	INTU	C	0.11%
	ETR	B	0.11%
	EIX	C	0.11%
	SW	B	0.11%
	OXY	F	0.11%
	SLB	F	0.11%
	WELL	C	0.11%
	BDX	D	0.11%
	BX	B	0.11%
	KKR	B	0.11%
	VST	C	0.11%
	KMB	D	0.11%
	PPL	C	0.11%
	APD	B	0.11%
	KEY	B	0.1%
	CEG	C	0.1%
	ALLY	F	0.1%
	STX	C	0.1%
	SCHW	D	0.1%
	CFG	C	0.1%
	FE	C	0.1%
	SYY	D	0.1%
	BIIB	F	0.1%
	BAX	C	0.09%
	ISRG	B	0.09%
	ES	C	0.09%
	JLL	B	0.09%
	ECL	B	0.09%
	BSX	B	0.09%
	STT	A	0.09%
	PARA	F	0.09%
	AMD	D	0.09%
	MTB	B	0.09%
	IRM	C	0.08%
	GPN	D	0.08%
	RS	D	0.08%
	DLR	B	0.08%
	CME	C	0.08%
	THC	A	0.08%
	SWK	B	0.08%
	PLD	C	0.08%
	ROST	C	0.08%
	ARW	C	0.08%
	EQIX	C	0.08%
	DTE	C	0.08%
	WEC	C	0.08%
	HBAN	B	0.07%
	OGN	D	0.07%
	FAST	C	0.07%
	FNF	B	0.07%
	AEE	C	0.07%
	KSS	F	0.07%
	RSG	D	0.07%
	CINF	B	0.07%
	USFD	B	0.07%
	EVRG	B	0.07%
	AVT	C	0.07%
	DGX	B	0.07%
	X	F	0.07%
	EME	B	0.06%
	OC	D	0.06%
	CNP	C	0.06%
	TOL	B	0.06%
	WBD	D	0.06%
	VFC	C	0.06%
	IFF	B	0.06%
	WHR	D	0.06%
	R	A	0.06%
	HWM	B	0.06%
	CMS	C	0.06%
	AES	C	0.06%
	PWR	B	0.06%
	AFG	B	0.05%
	AA	D	0.05%
	EQH	C	0.05%
	GPI	B	0.05%
	INGR	B	0.05%
	VNO	B	0.05%
	NI	B	0.05%
	AME	C	0.05%
	SIRI	C	0.05%
	GEV	B	0.05%
	DKS	D	0.05%
	SFM	B	0.05%
	TAP	D	0.05%
	CSL	B	0.05%
	ORI	B	0.05%
	AWK	B	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%
	L	C	0.05%
	OMF	D	0.05%
	LKQ	F	0.05%
	LNG	C	0.05%
	PFGC	B	0.05%
	LAD	D	0.05%
	WSM	D	0.05%
	M	F	0.05%
	AJG	D	0.05%
	LEA	F	0.05%
	FLEX	C	0.05%
	JEF	B	0.05%
	BXP	B	0.05%
	LNC	D	0.05%
	CASY	D	0.05%
	ZBRA	B	0.04%
	RPM	B	0.04%
	MTH	A	0.04%
	SLM	D	0.04%
	AYI	B	0.04%
	UBER	C	0.04%
	CNO	B	0.04%
	WAT	C	0.04%
	BAH	C	0.04%
	CMG	C	0.04%
	BAP	B	0.04%
	MRVL	C	0.04%
	EL	F	0.04%
	TMHC	A	0.04%
	WU	F	0.04%
	THO	D	0.04%
	SSNC	B	0.04%
	JXN	A	0.04%
	EXR	B	0.04%
	RMD	C	0.04%
	CCK	A	0.04%
	MRNA	F	0.04%
	FYBR	C	0.04%
	DOX	C	0.04%
	BEN	F	0.04%
	CLX	C	0.04%
	PVH	F	0.04%
	KNX	C	0.04%
	EVR	A	0.04%
	GAP	F	0.04%
	RJF	C	0.04%
	SOLV	C	0.04%
	NWSA	D	0.04%
	VMC	D	0.04%
	HSIC	C	0.04%
	BERY	B	0.04%
	RGA	C	0.04%
	O	C	0.04%
	APTV	D	0.04%
	ACM	B	0.04%
	LNT	B	0.04%
	ALSN	B	0.04%
	FAF	B	0.04%
	IVZ	B	0.04%
	ZIM	C	0.04%
	HES	F	0.04%
	TDS	C	0.04%
	PNW	C	0.04%
	MKL	C	0.04%
	OVV	F	0.04%
	UGI	C	0.04%
	SKX	D	0.03%
	AAP	F	0.03%
	BRO	C	0.03%
	REG	C	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%
	TRMB	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%
	EG	C	0.03%
	SAIC	C	0.03%
	LPLA	D	0.03%
	AVTR	B	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%
	PCG	C	0.03%
	MSCI	C	0.03%
	NWL	C	0.03%
	VOYA	B	0.03%
	TRU	B	0.03%
	GT	F	0.03%
	FMC	C	0.03%
	INVH	C	0.03%
	CRBG	D	0.03%
	OLN	D	0.03%
	CHKP	B	0.03%
	MLI	A	0.03%
	SLG	B	0.03%
	LVS	D	0.03%
	LII	B	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%
	PANW	D	0.03%
	NDAQ	A	0.03%
	CCEP	B	0.03%
	ARE	C	0.03%
	BURL	B	0.03%
	FTV	C	0.03%
	HBI	B	0.03%
	CACI	B	0.03%
	WSO	C	0.03%
	BCC	B	0.03%
	UFPI	C	0.03%
	GPK	B	0.03%
	OSK	F	0.03%
	HUBB	B	0.03%
	FL	D	0.03%
	CNH	D	0.03%
	EQT	D	0.03%
	HUN	D	0.03%
	LPX	B	0.03%
	AKAM	D	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%
	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%
	ANSS	D	0.02%
	TTC	D	0.02%
	HUBG	C	0.02%
	AL	D	0.02%
	KBR	D	0.02%
	FSLR	C	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%
	ALB	D	0.02%
	NDSN	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%
	ALGN	D	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%
	SBAC	C	0.02%
	STWD	B	0.02%
	AR	F	0.02%
	NOV	F	0.02%
	POST	C	0.02%
	AXTA	B	0.02%
	TFX	C	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%
	CTLT	B	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%
	VICI	C	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%
	TTWO	C	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%
	CRL	F	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%
	LW	D	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%
	AAL	D	0.0%

FNDX Underweight 15 Positions Relative to VSLU

	Symbol	Grade	Weight
	FICO	B	-0.24%
	VLTO	C	-0.15%
	RCL	B	-0.1%
	UAL	C	-0.07%
	MTCH	C	-0.07%
	INCY	C	-0.07%
	FDS	C	-0.06%
	PODD	B	-0.03%
	TYL	C	-0.02%
	ROL	C	-0.02%
	FRT	C	-0.02%
	ETSY	F	-0.02%
	PAYC	D	-0.01%
	BIO	C	-0.01%
	ENPH	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

VSLU: Top Represented Industries & Keywords

Industries: Diversified Industrials Business Services Semiconductors Specialty Retail Packaged Foods Software - Application Aerospace & Defense Diagnostics & Research Information Technology Services Oil & Gas E&P Health Care Plans Medical Devices REIT - Residential Drug Manufacturers - Major Integrated Shipping & Logistics Leisure Semiconductor Equipment & Materials Banks - Regional - US Beverages - Soft Drinks Capital Markets

Keywords: S&P 500 Nasdaq 100 Dow Jones Component Electronics Computing Insurance Telecommunications Natural Gas Real Estate Investment Trust Chemical Semiconductor Aerospace Beverage Medicine Mobile Devices Banking Petroleum Industry Transport Building Materials Insurance Products