GVUS vs. RAFE ETF Comparison

Comparison of Goldman Sachs MarketBeta Russell 1000 Value Equity ETF (GVUS) to PIMCO RAFI ESG U.S. ETF (RAFE)

GVUS

Goldman Sachs MarketBeta Russell 1000 Value Equity ETF

GVUS Description

The fund seeks to achieve its investment objective by investing at least 80% of its assets in equity securities included in its underlying index, in depositary receipts representing equity securities included in its underlying index, and in underlying stocks in lieu of depositary receipts included in its underlying index. The index is designed to measure the performance of the large- and mid-capitalization value segment of U.S. equity issuers, with a capping methodology.

Grade (RS Rating)

Last Trade

$50.87

Average Daily Volume

35,490

Number of Holdings ^*

836

* may have additional holdings in another (foreign) market

RAFE

PIMCO RAFI ESG U.S. ETF

RAFE Description

The investment seeks to provide total return that closely corresponds, before fees and expenses, to the total return of the RAFI ESG US Index. The fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its total assets in the component securities of the RAFI ESG US Index. The underlying index is constructed by RAFI Indices, LLC using a rules-based approach within publicly traded U.S. equities to create an integrated ESG strategy which overweights companies that rate well across various ESG themes and excludes companies with a major involvement in industries such as tobacco, gaming, weapons and fossil fuels.

Grade (RS Rating)

Last Trade

$37.82

Average Daily Volume

12,485

Number of Holdings ^*

238

* may have additional holdings in another (foreign) market

Performance

Period	GVUS	RAFE
30 Days	2.39%	1.92%
60 Days	4.06%	3.06%
90 Days	5.58%	4.90%
12 Months		24.12%

207 Overlapping Holdings

Symbol	Grade	Weight in GVUS	Weight in RAFE	Overlap
A	D	0.14%	0.15%	0.14%
AAP	C	0.01%	0.04%	0.01%
ABBV	D	0.65%	1.53%	0.65%
ABT	B	0.78%	1.18%	0.78%
ACN	C	0.86%	0.97%	0.86%
ADI	D	0.4%	0.37%	0.37%
ADM	D	0.1%	0.33%	0.1%
ADP	B	0.04%	0.45%	0.04%
AGCO	D	0.02%	0.04%	0.02%
AKAM	D	0.05%	0.07%	0.05%
ALL	A	0.17%	0.58%	0.17%
AMAT	F	0.04%	0.81%	0.04%
AMD	F	0.29%	0.06%	0.06%
AMGN	D	0.13%	1.08%	0.13%
AMP	A	0.02%	0.25%	0.02%
APD	A	0.27%	0.42%	0.27%
ARW	D	0.02%	0.15%	0.02%
AVB	B	0.13%	0.16%	0.13%
AVT	C	0.02%	0.09%	0.02%
AWK	D	0.1%	0.14%	0.1%
AXP	A	0.39%	0.63%	0.39%
BAC	A	1.23%	0.86%	0.86%
BALL	D	0.07%	0.16%	0.07%
BAX	D	0.06%	0.18%	0.06%
BBY	D	0.08%	0.5%	0.08%
BDX	F	0.25%	0.32%	0.25%
BIIB	F	0.09%	0.27%	0.09%
BK	A	0.22%	0.19%	0.19%
BLK	C	0.6%	0.71%	0.6%
BMY	B	0.44%	1.97%	0.44%
BSX	B	0.5%	0.11%	0.11%
C	A	0.51%	3.25%	0.51%
CAG	D	0.05%	0.07%	0.05%
CAH	B	0.05%	0.29%	0.05%
CARR	D	0.24%	0.37%	0.24%
CBRE	B	0.16%	0.37%	0.16%
CCI	D	0.18%	0.27%	0.18%
CDW	F	0.05%	0.09%	0.05%
CF	B	0.06%	0.16%	0.06%
CHD	B	0.1%	0.07%	0.07%
CI	F	0.32%	1.3%	0.32%
CL	D	0.13%	0.37%	0.13%
CMCSA	B	0.64%	1.55%	0.64%
CMI	A	0.19%	0.21%	0.19%
CNC	D	0.12%	0.13%	0.12%
CPB	D	0.03%	0.05%	0.03%
CRM	B	0.18%	0.58%	0.18%
CSCO	B	0.91%	2.94%	0.91%
CTSH	B	0.15%	0.18%	0.15%
CTVA	C	0.15%	0.05%	0.05%
CVS	D	0.26%	0.4%	0.26%
DD	D	0.13%	0.59%	0.13%
DE	A	0.39%	0.54%	0.39%
DELL	C	0.12%	0.13%	0.12%
DG	F	0.06%	0.15%	0.06%
DGX	A	0.07%	0.07%	0.07%
DHR	F	0.58%	0.46%	0.46%
DIS	B	0.82%	1.2%	0.82%
DOV	A	0.11%	0.06%	0.06%
DOW	F	0.12%	0.5%	0.12%
DOX	D	0.04%	0.08%	0.04%
DXC	B	0.01%	0.07%	0.01%
EA	A	0.17%	0.31%	0.17%
EBAY	D	0.12%	0.41%	0.12%
ECL	D	0.03%	0.26%	0.03%
EIX	B	0.12%	0.25%	0.12%
EL	F	0.04%	0.12%	0.04%
ELV	F	0.31%	0.89%	0.31%
EQIX	A	0.31%	0.24%	0.24%
EQR	B	0.11%	0.16%	0.11%
ESS	B	0.08%	0.05%	0.05%
EW	C	0.13%	0.16%	0.13%
F	C	0.17%	1.14%	0.17%
FAST	B	0.03%	0.13%	0.03%
FDX	B	0.26%	0.45%	0.26%
FI	A	0.32%	0.28%	0.28%
FIS	C	0.19%	0.36%	0.19%
FITB	A	0.12%	0.13%	0.12%
FOXA	B	0.04%	0.19%	0.04%
GAP	C	0.02%	0.11%	0.02%
GEHC	F	0.13%	0.27%	0.13%
GEN	B	0.06%	0.04%	0.04%
GILD	C	0.43%	0.99%	0.43%
GIS	D	0.14%	0.32%	0.14%
GM	B	0.25%	2.16%	0.25%
GPC	D	0.07%	0.08%	0.07%
GS	A	0.53%	0.98%	0.53%
GWW	B	0.03%	0.17%	0.03%
HAS	D	0.0%	0.05%	0.0%
HCA	F	0.19%	0.09%	0.09%
HD	A	0.32%	1.77%	0.32%
HIG	B	0.13%	0.27%	0.13%
HLT	A	0.12%	0.15%	0.12%
HOLX	D	0.07%	0.11%	0.07%
HPE	B	0.11%	0.7%	0.11%
HPQ	B	0.11%	0.72%	0.11%
HRL	D	0.03%	0.01%	0.01%
HSIC	B	0.03%	0.06%	0.03%
HST	C	0.05%	0.11%	0.05%
HSY	F	0.08%	0.06%	0.06%
HUM	C	0.13%	0.41%	0.13%
HUN	F	0.01%	0.07%	0.01%
IBM	C	0.73%	1.81%	0.73%
IFF	D	0.09%	0.12%	0.09%
ILMN	D	0.08%	0.08%	0.08%
INTC	D	0.4%	2.85%	0.4%
IP	B	0.08%	0.43%	0.08%
IRM	D	0.06%	0.19%	0.06%
ITW	B	0.19%	0.31%	0.19%
JCI	C	0.22%	0.55%	0.22%
JLL	D	0.03%	0.21%	0.03%
JNJ	D	1.44%	3.18%	1.44%
JNPR	F	0.05%	0.19%	0.05%
JPM	A	2.73%	4.09%	2.73%
K	A	0.08%	0.18%	0.08%
KD	B	0.02%	0.06%	0.02%
KDP	D	0.14%	0.14%	0.14%
KEYS	A	0.1%	0.1%	0.1%
KHC	F	0.11%	0.2%	0.11%
KIM	A	0.06%	0.07%	0.06%
KMB	D	0.1%	0.3%	0.1%
KO	D	0.4%	0.98%	0.4%
KSS	F	0.01%	0.14%	0.01%
LEA	D	0.02%	0.08%	0.02%
LH	C	0.08%	0.19%	0.08%
LIN	D	0.84%	1.12%	0.84%
LKQ	D	0.04%	0.09%	0.04%
LNC	B	0.02%	0.08%	0.02%
LOW	D	0.6%	1.14%	0.6%
M	D	0.02%	0.03%	0.02%
MAA	B	0.07%	0.07%	0.07%
MAN	D	0.01%	0.03%	0.01%
MAR	B	0.25%	0.28%	0.25%
MCHP	D	0.13%	0.06%	0.06%
MCK	B	0.17%	0.43%	0.17%
MDLZ	F	0.34%	0.29%	0.29%
MET	A	0.19%	0.7%	0.19%
MHK	D	0.03%	0.05%	0.03%
MMM	D	0.23%	1.07%	0.23%
MOS	F	0.03%	0.19%	0.03%
MRVL	B	0.27%	0.13%	0.13%
MSI	B	0.16%	0.21%	0.16%
MU	D	0.41%	0.95%	0.41%
NDAQ	A	0.13%	0.07%	0.07%
NEM	D	0.18%	0.46%	0.18%
NKE	D	0.14%	0.48%	0.14%
NTAP	C	0.05%	0.29%	0.05%
NTRS	A	0.08%	0.07%	0.07%
NWL	B	0.02%	0.04%	0.02%
NWSA	B	0.04%	0.07%	0.04%
O	D	0.19%	0.02%	0.02%
OC	A	0.07%	0.22%	0.07%
OGN	D	0.02%	0.04%	0.02%
OMC	C	0.07%	0.14%	0.07%
ON	D	0.11%	0.1%	0.1%
ORLY	B	0.02%	0.05%	0.02%
OTIS	C	0.16%	0.12%	0.12%
PARA	C	0.02%	0.2%	0.02%
PAYX	C	0.11%	0.11%	0.11%
PEP	F	0.18%	0.28%	0.18%
PFE	D	0.55%	2.32%	0.55%
PFG	D	0.08%	0.2%	0.08%
PG	A	1.21%	2.84%	1.21%
PGR	A	0.09%	0.25%	0.09%
PKG	A	0.08%	0.15%	0.08%
PLD	D	0.41%	0.08%	0.08%
PPG	F	0.11%	0.2%	0.11%
PRU	A	0.18%	0.51%	0.18%
PVH	C	0.02%	0.11%	0.02%
PYPL	B	0.34%	0.62%	0.34%
QCOM	F	0.04%	1.6%	0.04%
ROK	B	0.12%	0.05%	0.05%
RSG	A	0.17%	0.04%	0.04%
SHW	A	0.03%	0.15%	0.03%
SJM	D	0.04%	0.09%	0.04%
SOLV	C	0.04%	0.09%	0.04%
SPGI	C	0.61%	0.1%	0.1%
STT	A	0.11%	0.26%	0.11%
SWK	D	0.05%	0.11%	0.05%
SYK	C	0.39%	0.12%	0.12%
SYY	B	0.06%	0.24%	0.06%
T	A	0.63%	2.41%	0.63%
TER	D	0.01%	0.09%	0.01%
TGT	F	0.27%	1.18%	0.27%
TJX	A	0.22%	0.49%	0.22%
TMUS	B	0.44%	0.46%	0.44%
TPR	B	0.05%	0.16%	0.05%
TROW	B	0.1%	0.12%	0.1%
TSN	B	0.07%	0.07%	0.07%
TXN	C	0.63%	0.83%	0.63%
UNH	C	1.98%	0.58%	0.58%
UPS	C	0.38%	0.54%	0.38%
USFD	A	0.06%	0.09%	0.06%
VFC	C	0.03%	0.18%	0.03%
VTR	C	0.1%	0.23%	0.1%
VTRS	A	0.06%	0.09%	0.06%
VZ	C	0.68%	1.69%	0.68%
WAB	B	0.13%	0.09%	0.09%
WAT	B	0.03%	0.11%	0.03%
WBA	F	0.02%	0.09%	0.02%
WDC	D	0.08%	0.37%	0.08%
WELL	A	0.32%	0.33%	0.32%
WFC	A	1.01%	2.82%	1.01%
WHR	B	0.02%	0.21%	0.02%
WU	D	0.01%	0.04%	0.01%
WY	D	0.09%	0.26%	0.09%
ZTS	D	0.05%	0.14%	0.05%

GVUS Overweight 629 Positions Relative to RAFE

Symbol	Grade	Weight
BRK.A	B	3.35%
XOM	B	2.08%
WMT	A	1.42%
CVX	A	1.08%
PM	B	0.78%
MCD	D	0.77%
TMO	F	0.76%
CAT	B	0.63%
NEE	D	0.61%
RTX	C	0.61%
GE	D	0.59%
MS	A	0.57%
ETN	A	0.56%
COP	C	0.51%
HON	B	0.49%
CB	C	0.45%
MDT	D	0.44%
SCHW	B	0.42%
MMC	B	0.37%
MO	A	0.37%
SO	D	0.37%
PH	A	0.35%
GEV	B	0.35%
DUK	C	0.34%
ICE	C	0.34%
CME	A	0.32%
PNC	B	0.32%
GD	F	0.31%
BA	F	0.31%
EOG	A	0.3%
USB	A	0.3%
LMT	D	0.3%
AON	A	0.29%
UNP	C	0.29%
KKR	A	0.28%
EMR	A	0.28%
REGN	F	0.28%
CSX	B	0.27%
WMB	A	0.27%
COF	B	0.27%
NOC	D	0.26%
OKE	A	0.25%
TT	A	0.24%
FCX	D	0.24%
SLB	C	0.24%
AFL	B	0.24%
TFC	A	0.24%
DLR	B	0.23%
SRE	A	0.23%
ROP	B	0.23%
NSC	B	0.23%
AJG	B	0.23%
CEG	D	0.23%
TRV	B	0.23%
VRTX	F	0.23%
MPC	D	0.22%
PCAR	B	0.22%
KMI	A	0.21%
TDG	D	0.21%
PSX	C	0.21%
AEP	D	0.2%
DHI	D	0.19%
D	C	0.19%
AIG	B	0.19%
MSTR	C	0.19%
PCG	A	0.18%
KVUE	A	0.18%
LHX	C	0.18%
HWM	A	0.17%
BKR	B	0.17%
SPG	B	0.17%
URI	B	0.17%
DFS	B	0.17%
PEG	A	0.17%
PSA	D	0.17%
AME	A	0.17%
VLO	C	0.17%
LEN	D	0.16%
DAL	C	0.16%
IR	B	0.16%
STZ	D	0.15%
KR	B	0.15%
XEL	A	0.15%
EXC	C	0.15%
APH	A	0.14%
NUE	C	0.14%
ROST	C	0.14%
GLW	B	0.14%
MTB	A	0.14%
RCL	A	0.14%
ACGL	D	0.14%
CHTR	C	0.14%
PWR	A	0.13%
VICI	C	0.13%
FANG	D	0.13%
OXY	D	0.13%
ED	D	0.13%
MLM	B	0.13%
EXR	D	0.13%
TTWO	A	0.12%
UAL	A	0.12%
RJF	A	0.12%
IQV	D	0.12%
WEC	A	0.12%
ETR	B	0.12%
GRMN	B	0.12%
WTW	B	0.12%
SQ	B	0.11%
VMC	B	0.11%
CSGP	D	0.11%
ANSS	B	0.11%
XYL	D	0.11%
GPN	B	0.11%
RMD	C	0.1%
DTE	C	0.1%
MTD	D	0.1%
PPL	B	0.1%
SBUX	A	0.1%
NVR	D	0.1%
HBAN	A	0.1%
SYF	B	0.1%
HAL	C	0.1%
FTV	C	0.1%
PHM	D	0.1%
SW	A	0.1%
FCNCA	A	0.1%
WBD	C	0.09%
ZBH	C	0.09%
YUM	B	0.09%
CINF	A	0.09%
HUBB	B	0.09%
EQT	B	0.09%
SBAC	D	0.09%
FE	C	0.09%
LNG	B	0.09%
RF	A	0.09%
DVN	F	0.09%
CCL	B	0.09%
AEE	A	0.09%
EFX	F	0.09%
MSCI	C	0.08%
LUV	C	0.08%
CNP	B	0.08%
CMS	C	0.08%
FSLR	F	0.08%
INVH	D	0.08%
STLD	B	0.08%
CBOE	B	0.08%
ZM	B	0.08%
CFG	B	0.08%
HOOD	B	0.08%
APO	B	0.08%
LYB	F	0.08%
TDY	B	0.08%
LDOS	C	0.08%
STE	F	0.08%
ES	D	0.08%
ATO	A	0.08%
RBA	A	0.07%
TRMB	B	0.07%
MAS	D	0.07%
IEX	B	0.07%
J	F	0.07%
PNR	A	0.07%
TRU	D	0.07%
CSL	C	0.07%
WRB	A	0.07%
KEY	B	0.07%
RS	B	0.07%
WSO	A	0.07%
ARE	D	0.07%
SNA	A	0.07%
MKC	D	0.07%
IBKR	A	0.07%
CTRA	B	0.07%
BLDR	D	0.07%
EVRG	A	0.06%
EXPD	D	0.06%
EWBC	A	0.06%
VRSN	F	0.06%
HES	B	0.06%
APTV	D	0.06%
NDSN	B	0.06%
ACM	A	0.06%
UDR	B	0.06%
JBHT	C	0.06%
AMCR	D	0.06%
THC	D	0.06%
DOC	D	0.06%
BRO	B	0.06%
MKL	A	0.06%
GGG	B	0.06%
L	A	0.06%
RGA	A	0.06%
ZBRA	B	0.06%
SUI	D	0.06%
LNT	A	0.06%
SSNC	B	0.06%
FNF	B	0.06%
TXT	D	0.06%
TOL	B	0.06%
UTHR	C	0.06%
MRO	B	0.06%
NI	A	0.06%
CVNA	B	0.06%
Z	A	0.05%
UHS	D	0.05%
OVV	B	0.05%
SOFI	A	0.05%
FDS	B	0.05%
EMN	D	0.05%
MRNA	F	0.05%
BMRN	D	0.05%
SCI	B	0.05%
NVT	B	0.05%
NTNX	A	0.05%
FTI	A	0.05%
ALB	C	0.05%
ALLE	D	0.05%
WPC	D	0.05%
EPAM	C	0.05%
CLH	B	0.05%
CPT	B	0.05%
BXP	D	0.05%
ITT	A	0.05%
JKHY	D	0.05%
CASY	A	0.05%
CHRW	C	0.05%
AMH	D	0.05%
BG	F	0.05%
AFRM	B	0.05%
COHR	B	0.05%
GLPI	C	0.05%
JBL	B	0.05%
ELS	C	0.05%
DLTR	F	0.05%
RPM	A	0.05%
EG	C	0.05%
SWKS	F	0.05%
RVTY	F	0.05%
UNM	A	0.05%
TWLO	A	0.05%
RNR	C	0.05%
REG	B	0.05%
CW	B	0.05%
FFIV	B	0.05%
EME	C	0.05%
VLTO	D	0.05%
AVTR	F	0.05%
TFX	F	0.04%
TW	A	0.04%
WCC	B	0.04%
GMED	A	0.04%
QGEN	D	0.04%
CMA	A	0.04%
REXR	F	0.04%
DCI	B	0.04%
BWXT	B	0.04%
FBIN	D	0.04%
RGLD	C	0.04%
FRT	B	0.04%
INGR	B	0.04%
BRBR	A	0.04%
DRI	B	0.04%
PNFP	B	0.04%
ORI	A	0.04%
AYI	B	0.04%
CNH	C	0.04%
JEF	A	0.04%
GL	B	0.04%
CIEN	B	0.04%
MKTX	D	0.04%
WAL	B	0.04%
WTRG	B	0.04%
COIN	C	0.04%
DPZ	C	0.04%
CRL	C	0.04%
EHC	B	0.04%
DTM	B	0.04%
AVY	D	0.04%
DAY	B	0.04%
OHI	C	0.04%
AES	F	0.04%
GME	C	0.04%
ARMK	B	0.04%
LAD	A	0.04%
AFG	A	0.04%
RPRX	D	0.04%
BLD	D	0.04%
WWD	B	0.04%
IPG	D	0.04%
BKNG	A	0.04%
WBS	A	0.04%
PNW	B	0.04%
DKS	C	0.04%
ALSN	B	0.04%
PRI	A	0.04%
CACI	D	0.04%
TECH	D	0.04%
CCK	C	0.04%
CTLT	B	0.04%
EVR	B	0.04%
CUBE	D	0.04%
PFGC	B	0.04%
FTNT	C	0.04%
TAP	C	0.04%
AA	B	0.04%
CG	A	0.04%
ATR	B	0.04%
FHN	A	0.04%
RRX	B	0.04%
NRG	B	0.04%
INCY	C	0.04%
SF	B	0.04%
KMX	B	0.04%
AIZ	A	0.04%
BJ	A	0.04%
COLB	A	0.03%
CGNX	C	0.03%
IVZ	B	0.03%
FAF	A	0.03%
KBR	F	0.03%
LSTR	D	0.03%
BILL	A	0.03%
ALGN	D	0.03%
STAG	F	0.03%
AGNC	D	0.03%
MKSI	C	0.03%
MTG	C	0.03%
HRB	D	0.03%
VMI	B	0.03%
ALK	C	0.03%
AXS	A	0.03%
WEX	D	0.03%
WSM	B	0.03%
RLI	B	0.03%
DAR	C	0.03%
DINO	D	0.03%
FMC	D	0.03%
FND	C	0.03%
MTSI	B	0.03%
FCN	D	0.03%
ELAN	D	0.03%
GXO	B	0.03%
SSD	D	0.03%
ATI	D	0.03%
FR	C	0.03%
GNTX	C	0.03%
COKE	C	0.03%
ESAB	B	0.03%
WH	B	0.03%
VNO	B	0.03%
BBWI	D	0.03%
R	B	0.03%
OSK	B	0.03%
MIDD	C	0.03%
PR	B	0.03%
LBRDK	C	0.03%
LW	C	0.03%
PB	A	0.03%
ROKU	D	0.03%
JAZZ	B	0.03%
MNST	C	0.03%
KEX	C	0.03%
DASH	A	0.03%
SKX	D	0.03%
RHI	B	0.03%
CHE	D	0.03%
ADC	B	0.03%
HII	D	0.03%
NNN	D	0.03%
BERY	B	0.03%
G	B	0.03%
CRBG	B	0.03%
FLS	B	0.03%
RIVN	F	0.03%
CHRD	D	0.03%
MTCH	D	0.03%
RRC	B	0.03%
ACI	C	0.03%
BWA	D	0.03%
CZR	F	0.03%
X	C	0.03%
APG	B	0.03%
RL	B	0.03%
WTFC	A	0.03%
APA	D	0.03%
TKO	B	0.03%
SEIC	B	0.03%
SNV	B	0.03%
CFR	B	0.03%
FICO	B	0.03%
LAMR	D	0.03%
HLI	B	0.03%
LECO	B	0.03%
EGP	F	0.03%
VOYA	B	0.03%
NYT	C	0.03%
TTC	D	0.03%
CR	A	0.03%
MTZ	B	0.03%
ALLY	C	0.03%
CBSH	A	0.03%
OGE	B	0.03%
FYBR	D	0.03%
GWRE	A	0.03%
GPK	C	0.03%
WYNN	D	0.03%
ZION	B	0.03%
TTEK	F	0.03%
BRX	A	0.03%
AOS	F	0.03%
MGM	D	0.03%
SNX	C	0.03%
KNX	B	0.03%
AAL	B	0.03%
PTC	A	0.03%
AR	B	0.03%
RBC	A	0.03%
WST	C	0.03%
AXTA	A	0.03%
SITE	D	0.02%
WTM	A	0.02%
HOG	D	0.02%
FLO	D	0.02%
TPG	A	0.02%
PAYC	B	0.02%
DLB	B	0.02%
AN	C	0.02%
GTES	A	0.02%
WLK	D	0.02%
KMPR	B	0.02%
AWI	A	0.02%
EEFT	B	0.02%
RYN	D	0.02%
SLGN	A	0.02%
PSN	D	0.02%
WSC	D	0.02%
AZO	C	0.02%
KRC	C	0.02%
CUZ	B	0.02%
DBX	B	0.02%
ST	F	0.02%
CROX	D	0.02%
ROIV	C	0.02%
FRPT	B	0.02%
AGO	B	0.02%
SON	D	0.02%
HXL	D	0.02%
SEE	C	0.02%
OLN	D	0.02%
BYD	C	0.02%
TKR	D	0.02%
AL	B	0.02%
UGI	A	0.02%
BFAM	D	0.02%
OZK	B	0.02%
POST	C	0.02%
GNRC	B	0.02%
BC	C	0.02%
SLM	A	0.02%
LFUS	F	0.02%
SN	D	0.02%
WMS	D	0.02%
LITE	B	0.02%
CRUS	D	0.02%
EXAS	D	0.02%
RGEN	D	0.02%
NFG	A	0.02%
OLLI	D	0.02%
DOCS	C	0.02%
FOX	A	0.02%
THO	B	0.02%
JHG	A	0.02%
H	B	0.02%
ONTO	D	0.02%
IDA	A	0.02%
SAIA	B	0.02%
THG	A	0.02%
FNB	A	0.02%
XP	F	0.02%
VNT	B	0.02%
STWD	C	0.02%
AMG	B	0.02%
S	B	0.02%
CE	F	0.02%
BPOP	B	0.02%
BIO	D	0.02%
MTDR	B	0.02%
COLD	D	0.02%
BEN	C	0.02%
ESI	A	0.02%
NOV	C	0.02%
OKTA	C	0.02%
SIRI	C	0.02%
MOH	F	0.02%
OMF	A	0.02%
QRVO	F	0.02%
SAIC	F	0.02%
MSA	D	0.02%
MAT	D	0.02%
DDS	B	0.01%
SNDR	B	0.01%
TRIP	F	0.01%
REYN	D	0.01%
FTRE	D	0.01%
QS	F	0.01%
WEN	D	0.01%
LEG	F	0.01%
EXEL	B	0.01%
CNXC	F	0.01%
UA	C	0.01%
LCID	F	0.01%
CLVT	F	0.01%
BIRK	D	0.01%
SHC	F	0.01%
ADTN	A	0.01%
LEN	D	0.01%
VSTS	C	0.01%
RKT	F	0.01%
CRI	D	0.01%
PPC	C	0.01%
BR	A	0.01%
AZEK	A	0.01%
BRKR	D	0.01%
PSTG	D	0.01%
GO	C	0.01%
ETSY	D	0.01%
LYFT	C	0.01%
MP	B	0.01%
IPGP	D	0.01%
GLOB	B	0.01%
UAA	C	0.01%
RCM	F	0.01%
SAM	C	0.01%
AZTA	D	0.01%
YETI	C	0.01%
ULTA	F	0.01%
PINC	B	0.01%
ALGM	D	0.01%
HHH	B	0.01%
CPRI	F	0.01%
LPX	B	0.01%
CNM	D	0.01%
CWEN	C	0.01%
EXP	A	0.01%
JWN	C	0.01%
HAYW	B	0.01%
ENOV	C	0.01%
BOKF	B	0.01%
MPW	F	0.01%
SPB	C	0.01%
BROS	B	0.01%
CC	C	0.01%
AGR	B	0.01%
CXT	B	0.01%
COTY	F	0.01%
COLM	B	0.01%
VIRT	B	0.01%
AMKR	D	0.01%
U	C	0.01%
AMED	F	0.01%
PAG	B	0.01%
PK	B	0.01%
NXST	C	0.01%
IRDM	D	0.01%
SPR	D	0.01%
PENN	C	0.01%
NSA	D	0.01%
LOPE	B	0.01%
SMG	D	0.01%
VAC	B	0.01%
ZI	D	0.01%
MASI	A	0.01%
ZG	A	0.01%
EPR	D	0.01%
ALNY	D	0.01%
CPRT	A	0.01%
BHF	B	0.01%
ACHC	F	0.01%
ASH	D	0.01%
AM	A	0.01%
FHB	A	0.01%
CLF	F	0.01%
UHAL	D	0.01%
IAC	D	0.01%
PII	D	0.01%
HIW	D	0.01%
NVST	B	0.01%
W	F	0.01%
NWS	B	0.01%
NEU	C	0.01%
OLED	D	0.01%
PRGO	B	0.01%
GFS	C	0.01%
TNL	A	0.01%
MSM	C	0.01%
CIVI	D	0.01%
MDU	D	0.01%
TYL	B	0.01%
MSGS	A	0.01%
DNB	B	0.01%
PLNT	A	0.01%
XRAY	F	0.01%
CTAS	B	0.01%
RH	B	0.01%
SEG	B	0.0%
UWMC	D	0.0%
IONS	F	0.0%
TXG	F	0.0%
CACC	D	0.0%
DJT	C	0.0%
SEB	F	0.0%
PATH	C	0.0%
PYCR	C	0.0%
HCP	B	0.0%
WOLF	F	0.0%
CERT	F	0.0%
LSCC	D	0.0%
TFSL	A	0.0%
FIVE	F	0.0%
MTN	C	0.0%
CAR	C	0.0%
CNA	B	0.0%
INFA	D	0.0%
LBRDA	C	0.0%
CWEN	C	0.0%
DV	C	0.0%
NCNO	B	0.0%

GVUS Underweight 31 Positions Relative to RAFE

Symbol	Grade	Weight
AAPL	C	-6.52%
MSFT	F	-5.72%
MRK	F	-1.69%
ORCL	B	-1.68%
AVGO	D	-1.26%
META	D	-1.2%
NVDA	C	-1.12%
V	A	-1.09%
MA	C	-0.79%
LLY	F	-0.67%
ADBE	C	-0.63%
LRCX	F	-0.5%
TSLA	B	-0.49%
WM	A	-0.44%
KLAC	D	-0.21%
LUMN	C	-0.21%
AMT	D	-0.19%
DVA	B	-0.17%
MCO	B	-0.16%
ISRG	A	-0.14%
CDNS	B	-0.13%
COR	B	-0.13%
TSCO	D	-0.11%
NFLX	A	-0.09%
SNPS	B	-0.08%
EQH	B	-0.06%
GT	C	-0.06%
XRX	F	-0.05%
FL	F	-0.05%
FLEX	A	-0.04%
ANET	C	-0.02%