FNDX vs. VYM ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to Vanguard High Dividend Yield ETF - DNQ (VYM)

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

VYM

Vanguard High Dividend Yield ETF - DNQ

VYM Description

The investment seeks to track the performance of a benchmark index that measures the investment return of common stocks of companies that are characterized by high dividend yield. The fund employs an indexing investment approach designed to track the performance of the FTSE® High Dividend Yield Index, which consists of common stocks of companies that pay dividends that generally are higher than average. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Grade (RS Rating)

Last Trade

$128.07

Average Daily Volume

782,810

Number of Holdings ^*

538

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	VYM
30 Days	3.09%	3.36%
60 Days	4.23%	4.61%
90 Days	6.97%	7.73%
12 Months	26.34%	23.37%

315 Overlapping Holdings

	Symbol	Grade	Weight in FNDX	Weight in VYM	Overlap
	AAP	F	0.03%	0.02%	0.02%
	ABBV	C	0.6%	1.98%	0.6%
	ABM	D	0.02%	0.02%	0.02%
	ABT	C	0.34%	1.12%	0.34%
	ACI	F	0.02%	0.05%	0.02%
	ADI	C	0.13%	0.66%	0.13%
	ADM	D	0.22%	0.17%	0.17%
	ADP	B	0.15%	0.65%	0.15%
	AEE	C	0.07%	0.12%	0.07%
	AEP	C	0.18%	0.3%	0.18%
	AES	C	0.06%	0.07%	0.06%
	AFG	B	0.05%	0.05%	0.05%
	AFL	C	0.23%	0.36%	0.23%
	AGCO	D	0.03%	0.03%	0.03%
	AIG	D	0.28%	0.3%	0.28%
	AIZ	B	0.03%	0.06%	0.03%
	AL	D	0.02%	0.03%	0.02%
	ALL	B	0.29%	0.28%	0.28%
	ALLY	F	0.1%	0.07%	0.07%
	ALV	F	0.02%	0.04%	0.02%
	AMGN	B	0.48%	1.02%	0.48%
	AMP	A	0.12%	0.26%	0.12%
	APA	F	0.03%	0.06%	0.03%
	APD	B	0.11%	0.35%	0.11%
	APO	C	0.03%	0.34%	0.03%
	ARCH	F	0.01%	0.01%	0.01%
	ATO	B	0.04%	0.11%	0.04%
	AVGO	C	0.68%	4.22%	0.68%
	AVT	C	0.07%	0.03%	0.03%
	AWK	B	0.05%	0.16%	0.05%
	BAC	D	1.22%	1.58%	1.22%
	BAP	B	0.04%	0.07%	0.04%
	BAX	C	0.09%	0.11%	0.09%
	BBWI	F	0.02%	0.04%	0.02%
	BBY	C	0.19%	0.12%	0.12%
	BC	C	0.03%	0.03%	0.03%
	BEN	F	0.04%	0.03%	0.03%
	BERY	B	0.04%	0.05%	0.04%
	BG	D	0.11%	0.08%	0.08%
	BK	B	0.26%	0.29%	0.26%
	BKR	C	0.14%	0.2%	0.14%
	BLK	B	0.26%	0.76%	0.26%
	BMY	C	0.35%	0.58%	0.35%
	BPOP	C	0.03%	0.04%	0.03%
	BTU	D	0.02%	0.02%	0.02%
	BX	B	0.11%	0.58%	0.11%
	C	C	1.04%	0.68%	0.68%
	CAG	C	0.07%	0.08%	0.07%
	CAH	C	0.07%	0.16%	0.07%
	CAT	B	0.39%	0.99%	0.39%
	CB	B	0.29%	0.66%	0.29%
	CC	F	0.02%	0.02%	0.02%
	CCEP	B	0.03%	0.09%	0.03%
	CE	F	0.06%	0.07%	0.06%
	CF	C	0.06%	0.09%	0.06%
	CFG	C	0.1%	0.11%	0.1%
	CG	D	0.03%	0.05%	0.03%
	CHK	D	0.02%	0.06%	0.02%
	CHRW	B	0.07%	0.07%	0.07%
	CI	C	0.55%	0.57%	0.55%
	CINF	B	0.07%	0.12%	0.07%
	CL	D	0.16%	0.49%	0.16%
	CLX	C	0.04%	0.09%	0.04%
	CMA	B	0.06%	0.04%	0.04%
	CMCSA	D	0.75%	0.88%	0.75%
	CMI	C	0.17%	0.24%	0.17%
	CMS	C	0.06%	0.11%	0.06%
	CNH	D	0.03%	0.05%	0.03%
	CNO	B	0.04%	0.02%	0.02%
	CNP	C	0.06%	0.1%	0.06%
	COP	D	0.42%	0.76%	0.42%
	CPB	C	0.04%	0.05%	0.04%
	CRBG	D	0.03%	0.04%	0.03%
	CRI	D	0.02%	0.01%	0.01%
	CSCO	C	0.73%	1.17%	0.73%
	CTRA	D	0.01%	0.1%	0.01%
	CVS	D	0.68%	0.41%	0.41%
	CVX	D	1.07%	1.41%	1.07%
	D	C	0.19%	0.27%	0.19%
	DAN	F	0.01%	0.01%	0.01%
	DD	B	0.18%	0.2%	0.18%
	DFS	B	0.21%	0.2%	0.2%
	DGX	B	0.07%	0.1%	0.07%
	DINO	F	0.05%	0.05%	0.05%
	DK	F	0.01%	0.01%	0.01%
	DKS	D	0.05%	0.08%	0.05%
	DOW	D	0.2%	0.21%	0.2%
	DOX	C	0.04%	0.06%	0.04%
	DRI	B	0.05%	0.11%	0.05%
	DTE	C	0.08%	0.15%	0.08%
	DUK	C	0.34%	0.5%	0.34%
	DVN	F	0.08%	0.16%	0.08%
	EBAY	B	0.19%	0.17%	0.17%
	ED	C	0.13%	0.2%	0.13%
	EG	C	0.03%	0.1%	0.03%
	EIX	C	0.11%	0.19%	0.11%
	EL	F	0.04%	0.12%	0.04%
	EMN	B	0.08%	0.07%	0.07%
	EMR	D	0.15%	0.34%	0.15%
	EOG	D	0.2%	0.42%	0.2%
	EQH	C	0.05%	0.08%	0.05%
	EQT	D	0.03%	0.11%	0.03%
	ES	C	0.09%	0.14%	0.09%
	ETN	C	0.21%	0.7%	0.21%
	ETR	B	0.11%	0.15%	0.11%
	EVR	A	0.04%	0.05%	0.04%
	EVRG	B	0.07%	0.07%	0.07%
	EWBC	D	0.03%	0.07%	0.03%
	EXC	C	0.18%	0.22%	0.18%
	F	F	0.31%	0.25%	0.25%
	FAF	B	0.04%	0.04%	0.04%
	FANG	D	0.05%	0.2%	0.05%
	FAST	C	0.07%	0.22%	0.07%
	FDX	C	0.32%	0.39%	0.32%
	FE	C	0.1%	0.14%	0.1%
	FHN	D	0.03%	0.05%	0.03%
	FIS	B	0.13%	0.26%	0.13%
	FITB	B	0.13%	0.17%	0.13%
	FLO	C	0.02%	0.02%	0.02%
	FMC	C	0.03%	0.05%	0.03%
	FNF	B	0.07%	0.09%	0.07%
	FOXA	B	0.09%	0.06%	0.06%
	GAP	F	0.04%	0.03%	0.03%
	GD	B	0.23%	0.47%	0.23%
	GILD	B	0.35%	0.56%	0.35%
	GIS	B	0.13%	0.23%	0.13%
	GLW	C	0.14%	0.18%	0.14%
	GPC	D	0.05%	0.11%	0.05%
	GRMN	D	0.05%	0.16%	0.05%
	GS	C	0.56%	0.92%	0.56%
	HAL	F	0.06%	0.16%	0.06%
	HAS	B	0.04%	0.05%	0.04%
	HBAN	B	0.07%	0.12%	0.07%
	HD	B	0.78%	2.08%	0.78%
	HIG	B	0.15%	0.2%	0.15%
	HII	D	0.04%	0.06%	0.04%
	HOG	C	0.02%	0.03%	0.02%
	HON	D	0.34%	0.77%	0.34%
	HPE	D	0.18%	0.14%	0.14%
	HPQ	D	0.2%	0.2%	0.2%
	HRB	C	0.02%	0.05%	0.02%
	HRL	C	0.03%	0.05%	0.03%
	HSY	C	0.04%	0.16%	0.04%
	HUBB	B	0.03%	0.12%	0.03%
	HUN	D	0.03%	0.02%	0.02%
	IBM	B	0.61%	0.97%	0.61%
	IFF	B	0.06%	0.15%	0.06%
	INGR	B	0.05%	0.05%	0.05%
	INTC	F	0.6%	0.54%	0.54%
	IP	B	0.15%	0.1%	0.1%
	IPG	C	0.04%	0.07%	0.04%
	ITW	C	0.15%	0.43%	0.15%
	IVZ	B	0.04%	0.04%	0.04%
	JCI	B	0.15%	0.28%	0.15%
	JEF	B	0.05%	0.06%	0.05%
	JHG	B	0.03%	0.03%	0.03%
	JNJ	C	1.0%	2.28%	1.0%
	JNPR	B	0.05%	0.07%	0.05%
	JPM	D	1.94%	3.67%	1.94%
	JWN	C	0.02%	0.01%	0.01%
	JXN	A	0.04%	0.04%	0.04%
	K	B	0.07%	0.12%	0.07%
	KDP	B	0.08%	0.22%	0.08%
	KEY	B	0.1%	0.09%	0.09%
	KHC	C	0.11%	0.18%	0.11%
	KMB	D	0.11%	0.28%	0.11%
	KMI	B	0.19%	0.24%	0.19%
	KO	C	0.43%	1.6%	0.43%
	KR	C	0.3%	0.2%	0.2%
	KSS	F	0.07%	0.01%	0.01%
	LEA	F	0.05%	0.04%	0.04%
	LEG	D	0.01%	0.01%	0.01%
	LHX	C	0.16%	0.25%	0.16%
	LKQ	F	0.05%	0.06%	0.05%
	LMT	C	0.4%	0.69%	0.4%
	LNC	D	0.05%	0.03%	0.03%
	LNT	B	0.04%	0.09%	0.04%
	LOW	B	0.42%	0.81%	0.42%
	LUV	C	0.02%	0.1%	0.02%
	LYB	D	0.16%	0.15%	0.15%
	M	F	0.05%	0.02%	0.02%
	MAN	C	0.05%	0.02%	0.02%
	MCD	B	0.34%	1.19%	0.34%
	MCHP	F	0.05%	0.25%	0.05%
	MDLZ	B	0.23%	0.55%	0.23%
	MDT	C	0.27%	0.67%	0.27%
	MDU	C	0.02%	0.03%	0.02%
	MET	B	0.26%	0.26%	0.26%
	MKC	C	0.04%	0.11%	0.04%
	MMM	B	0.4%	0.42%	0.4%
	MO	C	0.39%	0.53%	0.39%
	MOS	F	0.05%	0.05%	0.05%
	MPC	F	0.41%	0.36%	0.36%
	MRK	D	0.51%	1.71%	0.51%
	MRO	C	0.08%	0.09%	0.08%
	MS	D	0.35%	0.69%	0.35%
	MSM	D	0.01%	0.02%	0.01%
	MTB	B	0.09%	0.16%	0.09%
	MTG	B	0.03%	0.04%	0.03%
	MTN	D	0.01%	0.04%	0.01%
	MUR	F	0.02%	0.03%	0.02%
	NAVI	C	0.02%	0.01%	0.01%
	NEE	C	0.29%	0.94%	0.29%
	NEM	B	0.19%	0.35%	0.19%
	NFG	B	0.02%	0.03%	0.02%
	NI	B	0.05%	0.08%	0.05%
	NRG	C	0.11%	0.1%	0.1%
	NSC	C	0.21%	0.33%	0.21%
	NTAP	D	0.08%	0.14%	0.08%
	NTRS	A	0.07%	0.11%	0.07%
	NVT	D	0.02%	0.06%	0.02%
	NWL	C	0.03%	0.02%	0.02%
	NXPI	F	0.08%	0.37%	0.08%
	NXST	D	0.03%	0.03%	0.03%
	OGE	C	0.03%	0.04%	0.03%
	OGN	D	0.07%	0.03%	0.03%
	OKE	B	0.13%	0.31%	0.13%
	OMC	B	0.08%	0.11%	0.08%
	OMF	D	0.05%	0.03%	0.03%
	ORI	B	0.05%	0.05%	0.05%
	OSK	F	0.03%	0.04%	0.03%
	OVV	F	0.04%	0.07%	0.04%
	PAG	D	0.02%	0.02%	0.02%
	PARA	F	0.09%	0.03%	0.03%
	PAYX	C	0.06%	0.24%	0.06%
	PBF	F	0.03%	0.02%	0.02%
	PCAR	D	0.13%	0.28%	0.13%
	PEG	B	0.11%	0.23%	0.11%
	PEP	C	0.45%	1.35%	0.45%
	PFE	C	0.75%	0.94%	0.75%
	PFG	B	0.08%	0.11%	0.08%
	PG	C	0.84%	2.31%	0.84%
	PGR	B	0.26%	0.84%	0.26%
	PII	D	0.02%	0.03%	0.02%
	PKG	B	0.07%	0.11%	0.07%
	PM	C	0.51%	1.09%	0.51%
	PNC	B	0.29%	0.42%	0.29%
	PNW	C	0.04%	0.06%	0.04%
	POR	C	0.02%	0.03%	0.02%
	PPG	D	0.08%	0.17%	0.08%
	PPL	C	0.11%	0.13%	0.11%
	PRGO	D	0.02%	0.02%	0.02%
	PRU	C	0.23%	0.25%	0.23%
	PSX	F	0.36%	0.34%	0.34%
	QCOM	D	0.47%	1.12%	0.47%
	R	A	0.06%	0.04%	0.04%
	RF	B	0.08%	0.12%	0.08%
	RGA	C	0.04%	0.08%	0.04%
	RHI	D	0.03%	0.04%	0.03%
	RL	C	0.03%	0.04%	0.03%
	ROK	D	0.05%	0.18%	0.05%
	RPM	B	0.04%	0.08%	0.04%
	RS	D	0.08%	0.09%	0.08%
	RTX	C	0.37%	0.93%	0.37%
	SBUX	C	0.27%	0.61%	0.27%
	SEE	D	0.02%	0.03%	0.02%
	SIRI	C	0.05%	0.0%	0.0%
	SJM	C	0.06%	0.07%	0.06%
	SLB	F	0.11%	0.36%	0.11%
	SLM	D	0.04%	0.03%	0.03%
	SNA	C	0.04%	0.08%	0.04%
	SNV	C	0.02%	0.04%	0.02%
	SO	B	0.29%	0.54%	0.29%
	SON	C	0.03%	0.03%	0.03%
	SRE	C	0.12%	0.3%	0.12%
	STT	A	0.09%	0.15%	0.09%
	STX	C	0.1%	0.11%	0.1%
	SWK	B	0.08%	0.09%	0.08%
	SWKS	D	0.05%	0.1%	0.05%
	SYF	C	0.27%	0.11%	0.11%
	SYY	D	0.1%	0.22%	0.1%
	T	C	1.37%	0.81%	0.81%
	TAP	D	0.05%	0.05%	0.05%
	TDS	C	0.04%	0.01%	0.01%
	TFC	C	0.22%	0.34%	0.22%
	TGNA	D	0.02%	0.01%	0.01%
	TGT	C	0.37%	0.4%	0.37%
	THG	B	0.02%	0.03%	0.02%
	TNL	D	0.01%	0.02%	0.01%
	TPR	C	0.04%	0.05%	0.04%
	TRGP	B	0.06%	0.18%	0.06%
	TROW	D	0.11%	0.13%	0.11%
	TRV	C	0.3%	0.3%	0.3%
	TSN	C	0.2%	0.1%	0.1%
	TXN	C	0.34%	1.11%	0.34%
	UGI	C	0.04%	0.03%	0.03%
	UNM	B	0.05%	0.06%	0.05%
	UNP	C	0.4%	0.89%	0.4%
	UPS	D	0.25%	0.53%	0.25%
	USB	B	0.3%	0.37%	0.3%
	VAC	F	0.01%	0.01%	0.01%
	VFC	C	0.06%	0.04%	0.04%
	VLO	F	0.38%	0.27%	0.27%
	VOYA	B	0.03%	0.04%	0.03%
	VSH	F	0.01%	0.01%	0.01%
	VST	C	0.11%	0.17%	0.11%
	VTRS	D	0.1%	0.08%	0.08%
	VZ	B	1.32%	1.0%	1.0%
	WBA	F	0.14%	0.04%	0.04%
	WEC	C	0.08%	0.17%	0.08%
	WFC	D	1.06%	1.17%	1.06%
	WHR	D	0.06%	0.03%	0.03%
	WM	D	0.15%	0.48%	0.15%
	WMB	B	0.15%	0.32%	0.15%
	WMT	C	1.51%	1.91%	1.51%
	WRB	C	0.04%	0.11%	0.04%
	WSM	D	0.05%	0.1%	0.05%
	WSO	C	0.03%	0.09%	0.03%
	WTRG	D	0.01%	0.06%	0.01%
	WU	F	0.04%	0.02%	0.02%
	XEL	B	0.12%	0.19%	0.12%
	XOM	C	1.92%	3.02%	1.92%
	XRX	D	0.02%	0.01%	0.01%
	YUM	D	0.08%	0.22%	0.08%
	ZION	D	0.05%	0.04%	0.04%

FNDX Overweight 403 Positions Relative to VYM

	Symbol	Grade	Weight
	AAPL	C	4.51%
	MSFT	C	2.54%
	BRK.A	C	2.29%
	META	B	1.85%
	AMZN	C	1.42%
	UNH	C	1.25%
	GOOGL	D	1.22%
	GOOG	D	1.06%
	COST	B	0.73%
	GM	C	0.69%
	LUMN	C	0.57%
	ELV	C	0.5%
	ORCL	C	0.47%
	COF	B	0.39%
	NVDA	D	0.38%
	AXP	B	0.37%
	DIS	D	0.37%
	V	C	0.35%
	LIN	B	0.35%
	MU	F	0.35%
	ACN	C	0.34%
	CHTR	D	0.32%
	TMO	B	0.29%
	MA	B	0.28%
	LLY	C	0.27%
	CNC	D	0.25%
	HCA	B	0.25%
	AMAT	D	0.25%
	TMUS	C	0.24%
	TJX	B	0.24%
	DE	B	0.22%
	ADBE	F	0.22%
	HUM	F	0.21%
	CSX	D	0.21%
	NOC	B	0.21%
	DHI	B	0.2%
	BKNG	C	0.2%
	TSLA	C	0.19%
	PYPL	B	0.19%
	LEN	B	0.19%
	GE	B	0.18%
	NUE	F	0.18%
	NKE	D	0.18%
	CTSH	C	0.18%
	DHR	B	0.17%
	LRCX	F	0.16%
	REGN	C	0.16%
	NFLX	B	0.15%
	MMC	C	0.15%
	SPGI	B	0.15%
	BA	F	0.14%
	AMT	C	0.14%
	AON	B	0.13%
	ICE	C	0.13%
	PHM	B	0.13%
	SYK	C	0.13%
	CARR	B	0.13%
	WDC	D	0.13%
	FCX	D	0.13%
	PH	B	0.12%
	CRM	D	0.12%
	URI	B	0.12%
	CBRE	A	0.12%
	INTU	C	0.11%
	TEL	D	0.11%
	SW	B	0.11%
	SPG	B	0.11%
	CCI	C	0.11%
	OXY	F	0.11%
	WELL	C	0.11%
	BDX	D	0.11%
	KKR	B	0.11%
	MCK	F	0.1%
	KLAC	D	0.1%
	CEG	C	0.1%
	SCHW	D	0.1%
	ORLY	C	0.1%
	BIIB	F	0.1%
	UHS	B	0.1%
	CTVA	B	0.09%
	APH	D	0.09%
	TT	B	0.09%
	ISRG	B	0.09%
	SHW	B	0.09%
	CTAS	B	0.09%
	VTR	C	0.09%
	STLD	F	0.09%
	JLL	B	0.09%
	WY	C	0.09%
	ECL	B	0.09%
	BSX	B	0.09%
	AMD	D	0.09%
	STZ	D	0.08%
	IRM	C	0.08%
	LDOS	B	0.08%
	VRTX	D	0.08%
	GPN	D	0.08%
	TDG	B	0.08%
	MCO	B	0.08%
	MAR	C	0.08%
	DLR	B	0.08%
	CME	C	0.08%
	THC	A	0.08%
	NVR	B	0.08%
	ZTS	C	0.08%
	PLD	C	0.08%
	ROST	C	0.08%
	ARW	C	0.08%
	DG	F	0.08%
	IQV	C	0.08%
	EA	D	0.08%
	EQIX	C	0.08%
	KMX	D	0.07%
	DVA	B	0.07%
	WTW	C	0.07%
	RSG	D	0.07%
	GEHC	C	0.07%
	USFD	B	0.07%
	MHK	C	0.07%
	X	F	0.07%
	GWW	B	0.07%
	AVB	B	0.06%
	EME	B	0.06%
	CDW	D	0.06%
	MAS	B	0.06%
	OC	D	0.06%
	TOL	B	0.06%
	HLT	B	0.06%
	WAB	B	0.06%
	WBD	D	0.06%
	EQR	B	0.06%
	A	C	0.06%
	TSCO	C	0.06%
	AZO	D	0.06%
	TXT	D	0.06%
	PSA	B	0.06%
	DOV	B	0.06%
	HWM	B	0.06%
	BALL	C	0.06%
	PWR	B	0.06%
	MSI	B	0.06%
	ZBH	F	0.05%
	AA	D	0.05%
	GPI	B	0.05%
	VNO	B	0.05%
	AME	C	0.05%
	ACGL	C	0.05%
	GEV	B	0.05%
	TER	D	0.05%
	SFM	B	0.05%
	BWA	D	0.05%
	CSL	B	0.05%
	ODFL	D	0.05%
	MUSA	D	0.05%
	KD	D	0.05%
	OTIS	C	0.05%
	DXC	C	0.05%
	CCL	C	0.05%
	QRVO	F	0.05%
	JBL	D	0.05%
	AN	D	0.05%
	CPAY	B	0.05%
	L	C	0.05%
	MOH	D	0.05%
	LNG	C	0.05%
	PFGC	B	0.05%
	LAD	D	0.05%
	MGM	F	0.05%
	ROP	C	0.05%
	AJG	D	0.05%
	FLEX	C	0.05%
	BXP	B	0.05%
	CASY	D	0.05%
	J	C	0.05%
	ZBRA	B	0.04%
	ESS	B	0.04%
	BR	D	0.04%
	MTD	D	0.04%
	DPZ	F	0.04%
	PNR	B	0.04%
	MTH	A	0.04%
	ANET	B	0.04%
	AYI	B	0.04%
	UBER	C	0.04%
	MAA	B	0.04%
	WAT	C	0.04%
	BAH	C	0.04%
	CMG	C	0.04%
	MRVL	C	0.04%
	EW	F	0.04%
	EFX	B	0.04%
	TMHC	A	0.04%
	ON	D	0.04%
	XYL	C	0.04%
	THO	D	0.04%
	BLDR	C	0.04%
	SSNC	B	0.04%
	EXR	B	0.04%
	RMD	C	0.04%
	CCK	A	0.04%
	MRNA	F	0.04%
	FYBR	C	0.04%
	HST	C	0.04%
	PVH	F	0.04%
	KNX	C	0.04%
	MNST	D	0.04%
	DOC	C	0.04%
	RJF	C	0.04%
	SOLV	C	0.04%
	NWSA	D	0.04%
	VMC	D	0.04%
	HSIC	C	0.04%
	MLM	D	0.04%
	AVY	C	0.04%
	JBHT	D	0.04%
	CHD	D	0.04%
	VRSK	D	0.04%
	O	C	0.04%
	APTV	D	0.04%
	ACM	B	0.04%
	ALSN	B	0.04%
	ZIM	C	0.04%
	HOLX	B	0.04%
	HES	F	0.04%
	DLTR	F	0.04%
	MKL	C	0.04%
	AOS	D	0.03%
	SKX	D	0.03%
	BRO	C	0.03%
	REG	C	0.03%
	ITT	B	0.03%
	CPRI	D	0.03%
	IDXX	C	0.03%
	GDDY	C	0.03%
	CW	B	0.03%
	CIEN	C	0.03%
	TRMB	C	0.03%
	FLR	D	0.03%
	ILMN	C	0.03%
	UDR	C	0.03%
	GNTX	F	0.03%
	CLF	F	0.03%
	SCI	B	0.03%
	SAIC	C	0.03%
	LPLA	D	0.03%
	AVTR	B	0.03%
	FTNT	C	0.03%
	SUI	B	0.03%
	CMC	D	0.03%
	AER	B	0.03%
	SWN	D	0.03%
	RRX	C	0.03%
	EXPE	C	0.03%
	PCG	C	0.03%
	MSCI	C	0.03%
	TRU	B	0.03%
	GT	F	0.03%
	ULTA	D	0.03%
	KVUE	C	0.03%
	INVH	C	0.03%
	OLN	D	0.03%
	SNPS	D	0.03%
	CHKP	B	0.03%
	MLI	A	0.03%
	IR	C	0.03%
	SLG	B	0.03%
	LVS	D	0.03%
	LII	B	0.03%
	ADSK	C	0.03%
	CDNS	D	0.03%
	FFIV	B	0.03%
	GNW	B	0.03%
	TPH	C	0.03%
	MTZ	B	0.03%
	KIM	C	0.03%
	WCC	D	0.03%
	ARMK	B	0.03%
	GL	C	0.03%
	KBH	A	0.03%
	SANM	D	0.03%
	DECK	C	0.03%
	PANW	D	0.03%
	NDAQ	A	0.03%
	STE	C	0.03%
	ARE	C	0.03%
	BURL	B	0.03%
	FTV	C	0.03%
	HBI	B	0.03%
	CACI	B	0.03%
	KEYS	C	0.03%
	IT	B	0.03%
	BCC	B	0.03%
	UFPI	C	0.03%
	GPK	B	0.03%
	FL	D	0.03%
	LPX	B	0.03%
	AKAM	D	0.03%
	AMG	C	0.03%
	EPAM	F	0.02%
	OI	D	0.02%
	WST	D	0.02%
	UNFI	C	0.02%
	CBOE	C	0.02%
	CZR	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%
	AMCR	B	0.02%
	BECN	D	0.02%
	LECO	F	0.02%
	SM	F	0.02%
	ICLR	D	0.02%
	WERN	D	0.02%
	LULU	D	0.02%
	XRAY	D	0.02%
	PENN	D	0.02%
	REZI	D	0.02%
	MKSI	F	0.02%
	SQ	D	0.02%
	DAR	F	0.02%
	TKR	D	0.02%
	CYH	B	0.02%
	ANSS	D	0.02%
	TTC	D	0.02%
	HUBG	C	0.02%
	KBR	D	0.02%
	ALLE	B	0.02%
	FSLR	C	0.02%
	FCNCA	D	0.02%
	GNRC	D	0.02%
	TPX	C	0.02%
	ASGN	D	0.02%
	GGG	C	0.02%
	ALB	D	0.02%
	NDSN	C	0.02%
	UHAL	A	0.02%
	RUSHA	C	0.02%
	ASO	C	0.02%
	EXPD	C	0.02%
	POOL	C	0.02%
	ALGN	D	0.02%
	QRTEA	F	0.02%
	WPC	C	0.02%
	ST	D	0.02%
	DCI	C	0.02%
	DAL	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%
	IEX	D	0.02%
	BJ	D	0.02%
	JKHY	B	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%
	CPT	B	0.02%
	TDY	B	0.02%
	G	C	0.02%
	NSIT	D	0.02%
	VICI	C	0.02%
	BRX	B	0.02%
	EHC	C	0.02%
	LSTR	D	0.02%
	TTWO	C	0.02%
	LAMR	B	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%
	ANDE	D	0.01%
	DBX	D	0.01%
	CRL	F	0.01%
	VRSN	D	0.01%
	JAZZ	D	0.01%
	CHE	C	0.01%
	LW	D	0.01%
	MMS	C	0.01%
	AEO	F	0.01%
	ADNT	F	0.01%
	LILAK	D	0.01%
	BLD	D	0.01%
	ODP	F	0.01%
	SPTN	C	0.01%
	NOW	B	0.01%
	BIG	F	0.0%
	AAL	D	0.0%

FNDX Underweight 223 Positions Relative to VYM

	Symbol	Grade	Weight
	ARES	B	-0.15%
	RPRX	C	-0.06%
	HLI	B	-0.05%
	WBS	D	-0.05%
	SF	A	-0.05%
	SCCO	D	-0.05%
	WAL	B	-0.05%
	PR	F	-0.05%
	CHRD	F	-0.05%
	WH	B	-0.04%
	AXS	B	-0.04%
	ONB	C	-0.04%
	RLI	B	-0.04%
	FLS	D	-0.04%
	PB	B	-0.04%
	CFR	C	-0.04%
	ESNT	B	-0.04%
	CRS	B	-0.04%
	RRC	D	-0.04%
	SSB	B	-0.04%
	XP	D	-0.04%
	CBSH	C	-0.04%
	DTM	B	-0.04%
	AVNT	B	-0.03%
	MGY	C	-0.03%
	SWX	C	-0.03%
	NJR	B	-0.03%
	OZK	D	-0.03%
	HWC	D	-0.03%
	UMBF	B	-0.03%
	PIPR	B	-0.03%
	MC	B	-0.03%
	FFIN	B	-0.03%
	AM	C	-0.03%
	GATX	D	-0.03%
	FOX	B	-0.03%
	IDA	C	-0.03%
	UBSI	B	-0.03%
	HOMB	B	-0.03%
	COLB	B	-0.03%
	FNB	C	-0.03%
	GBCI	B	-0.03%
	RDN	C	-0.03%
	CBT	B	-0.03%
	BCPC	C	-0.03%
	CADE	C	-0.03%
	CIVI	F	-0.03%
	MGRC	F	-0.02%
	TRN	D	-0.02%
	INDB	C	-0.02%
	YOU	C	-0.02%
	SPB	C	-0.02%
	SLVM	B	-0.02%
	BKU	C	-0.02%
	RRR	D	-0.02%
	LCII	C	-0.02%
	CACC	F	-0.02%
	CALM	A	-0.02%
	WEN	C	-0.02%
	AVA	C	-0.02%
	AWR	B	-0.02%
	CATY	C	-0.02%
	CCOI	C	-0.02%
	SMG	C	-0.02%
	IRDM	D	-0.02%
	FHB	D	-0.02%
	AROC	D	-0.02%
	MGEE	B	-0.02%
	HP	F	-0.02%
	CWT	C	-0.02%
	CBU	C	-0.02%
	SHOO	B	-0.02%
	EBC	B	-0.02%
	SXT	C	-0.02%
	GLNG	C	-0.02%
	LANC	D	-0.02%
	STNG	D	-0.02%
	NWE	B	-0.02%
	IBOC	D	-0.02%
	NSP	F	-0.02%
	ASB	D	-0.02%
	OTTR	F	-0.02%
	FULT	D	-0.02%
	WD	A	-0.02%
	AUB	D	-0.02%
	FBP	C	-0.02%
	SR	B	-0.02%
	CRC	C	-0.02%
	ALE	B	-0.02%
	DNB	C	-0.02%
	UCBI	B	-0.02%
	PTEN	F	-0.02%
	PNM	B	-0.02%
	VLY	C	-0.02%
	KMPR	D	-0.02%
	KFY	B	-0.02%
	SEM	D	-0.02%
	OGS	B	-0.02%
	NOG	D	-0.02%
	BKH	B	-0.02%
	SFBS	B	-0.02%
	KTB	B	-0.02%
	TPG	B	-0.02%
	AGO	C	-0.02%
	BRKL	C	-0.01%
	DLX	D	-0.01%
	FG	D	-0.01%
	CWEN	C	-0.01%
	EMBC	C	-0.01%
	JACK	F	-0.01%
	FDP	C	-0.01%
	MATV	C	-0.01%
	DDS	F	-0.01%
	WMK	C	-0.01%
	KLG	C	-0.01%
	CNA	C	-0.01%
	SRCE	C	-0.01%
	KALU	F	-0.01%
	BHLB	B	-0.01%
	EIG	C	-0.01%
	KW	C	-0.01%
	SAFT	D	-0.01%
	BKE	B	-0.01%
	OXM	F	-0.01%
	UVV	D	-0.01%
	SCS	D	-0.01%
	WABC	D	-0.01%
	SFL	F	-0.01%
	SASR	B	-0.01%
	BLMN	F	-0.01%
	CSGS	C	-0.01%
	VRTS	F	-0.01%
	HMN	D	-0.01%
	HOPE	B	-0.01%
	AY	C	-0.01%
	GBX	C	-0.01%
	APOG	B	-0.01%
	WOR	D	-0.01%
	BHE	D	-0.01%
	HTH	C	-0.01%
	SYBT	A	-0.01%
	HEES	D	-0.01%
	PZZA	D	-0.01%
	NWN	C	-0.01%
	GEF	D	-0.01%
	STBA	B	-0.01%
	TROX	F	-0.01%
	WGO	D	-0.01%
	WLY	C	-0.01%
	REYN	C	-0.01%
	CHCO	B	-0.01%
	FCF	C	-0.01%
	LZB	C	-0.01%
	NTB	C	-0.01%
	NWBI	C	-0.01%
	MCY	D	-0.01%
	PDCO	F	-0.01%
	WSBC	D	-0.01%
	B	D	-0.01%
	NMRK	A	-0.01%
	CAKE	C	-0.01%
	TNC	F	-0.01%
	SJW	C	-0.01%
	RNST	D	-0.01%
	CABO	F	-0.01%
	TRMK	C	-0.01%
	BANR	B	-0.01%
	KMT	B	-0.01%
	MLKN	D	-0.01%
	IBTX	B	-0.01%
	SBLK	D	-0.01%
	STRA	F	-0.01%
	ADTN	D	-0.01%
	BANF	B	-0.01%
	PHIN	B	-0.01%
	VGR	B	-0.01%
	NBTB	D	-0.01%
	FRME	D	-0.01%
	SBCF	C	-0.01%
	HI	F	-0.01%
	ENR	D	-0.01%
	HTLF	B	-0.01%
	PFS	B	-0.01%
	BOKF	B	-0.01%
	CWEN	C	-0.01%
	TOWN	B	-0.01%
	PINC	C	-0.01%
	PPBI	D	-0.01%
	CVBF	D	-0.01%
	FIBK	B	-0.01%
	CNS	B	-0.01%
	WAFD	C	-0.01%
	FFBC	D	-0.01%
	PRK	C	-0.01%
	VIRT	C	-0.01%
	AGR	B	-0.01%
	NOMD	B	-0.01%
	IGT	D	-0.01%
	HNI	C	-0.01%
	CPK	B	-0.01%
	BOH	D	-0.01%
	APAM	C	-0.01%
	JJSF	C	-0.01%
	SFNC	B	-0.01%
	TTEC	F	-0.0%
	MEI	D	-0.0%
	LSXMK	D	-0.0%
	GTN	D	-0.0%
	NUS	F	-0.0%
	RBCAA	B	-0.0%
	GES	F	-0.0%
	ALGT	F	-0.0%
	TFSL	C	-0.0%
	RGR	D	-0.0%
	SCHL	D	-0.0%
	MATW	F	-0.0%
	CFFN	D	-0.0%
	UI	B	-0.0%
	MNRO	D	-0.0%
	NFE	F	-0.0%
	CBRL	D	-0.0%
	CVI	F	-0.0%
	SSTK	F	-0.0%

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

VYM: Top Represented Industries & Keywords

Industries: Banks - Regional - US Utilities - Regulated Electric Asset Management Oil & Gas E&P Packaged Foods Insurance - Property & Casualty Utilities - Diversified Utilities - Regulated Gas Diversified Industrials Restaurants Semiconductors Specialty Chemicals Insurance - Life Capital Markets Chemicals Credit Services Drug Manufacturers - Major Household & Personal Products Insurance - Diversified Oil & Gas Refining & Marketing

Keywords: S&P 500 Bank Banking Natural Gas Insurance Deposit Products Electricity Commercial Banking Nasdaq 100 Real Estate Loans Investment Bank Investment Management Mining Commercial Bank Insurance Products Chemical Life Insurance Trust Services Cash Management Aerospace