ISCV vs. FNCL ETF Comparison

Comparison of iShares Morningstar Small-Cap Value ETF (ISCV) to Fidelity MSCI Financials Index ETF (FNCL)

ISCV

iShares Morningstar Small-Cap Value ETF

ISCV Description

The investment seeks to track the investment results of the Morningstar US Small Cap Broad Value Extended IndexSM composed of small-capitalization U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index measures the performance of stocks issued by small-capitalization companies that have exhibited above-average value characteristics as determined by Morningstar, Inc.âs (Morningstar or the index provider) proprietary index methodology

Grade (RS Rating)

Last Trade

$65.90

Average Daily Volume

8,084

Number of Holdings ^*

1113

* may have additional holdings in another (foreign) market

FNCL

Fidelity MSCI Financials Index ETF

FNCL Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Financials Index. Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Financials Index, which represents the performance of the financial sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Financials Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$70.95

Average Daily Volume

108,821

Number of Holdings ^*

380

* may have additional holdings in another (foreign) market

Performance

Period	ISCV	FNCL
30 Days	1.72%	5.19%
60 Days	3.91%	10.77%
90 Days	7.13%	15.45%
12 Months	25.15%	46.39%

243 Overlapping Holdings

Symbol	Grade	Weight in ISCV	Weight in FNCL	Overlap
ABCB	B	0.2%	0.06%	0.06%
ABR	B	0.11%	0.03%	0.03%
ACT	D	0.04%	0.02%	0.02%
AGM	B	0.05%	0.03%	0.03%
AGNC	C	0.31%	0.08%	0.08%
AGO	A	0.07%	0.06%	0.06%
AIZ	A	0.48%	0.15%	0.15%
AMAL	B	0.01%	0.01%	0.01%
AMBC	C	0.01%	0.01%	0.01%
AMG	C	0.14%	0.07%	0.07%
AMSF	B	0.05%	0.01%	0.01%
AMTB	C	0.03%	0.01%	0.01%
APAM	B	0.06%	0.04%	0.04%
ARI	C	0.05%	0.02%	0.02%
ASB	B	0.17%	0.05%	0.05%
AUB	B	0.15%	0.04%	0.04%
AX	B	0.09%	0.05%	0.05%
AXS	A	0.29%	0.09%	0.09%
BANC	B	0.1%	0.03%	0.03%
BANF	B	0.05%	0.03%	0.03%
BANR	B	0.11%	0.03%	0.03%
BFC	B	0.02%	0.01%	0.01%
BFH	B	0.12%	0.01%	0.01%
BFST	B	0.03%	0.01%	0.01%
BGC	C	0.09%	0.05%	0.05%
BHF	C	0.14%	0.04%	0.04%
BHLB	B	0.06%	0.02%	0.02%
BKU	A	0.13%	0.04%	0.04%
BOH	B	0.13%	0.04%	0.04%
BOKF	B	0.11%	0.04%	0.04%
BPOP	C	0.29%	0.09%	0.09%
BRKL	B	0.05%	0.01%	0.01%
BRSP	C	0.04%	0.01%	0.01%
BSIG	A	0.01%	0.01%	0.01%
BUSE	B	0.06%	0.02%	0.02%
BXMT	C	0.12%	0.04%	0.04%
BY	B	0.04%	0.01%	0.01%
CACC	F	0.11%	0.04%	0.04%
CADE	B	0.29%	0.08%	0.08%
CASH	B	0.05%	0.02%	0.02%
CASS	B	0.01%	0.01%	0.01%
CATY	B	0.15%	0.04%	0.04%
CBSH	A	0.38%	0.11%	0.11%
CBU	B	0.15%	0.04%	0.04%
CCB	A	0.02%	0.01%	0.01%
CFB	C	0.02%	0.01%	0.01%
CFFN	B	0.04%	0.01%	0.01%
CFR	B	0.24%	0.1%	0.1%
CHCO	B	0.05%	0.02%	0.02%
CLBK	C	0.01%	0.01%	0.01%
CMA	B	0.38%	0.11%	0.11%
CMTG	D	0.03%	0.01%	0.01%
CNNE	B	0.05%	0.01%	0.01%
CNO	B	0.18%	0.06%	0.06%
CNOB	B	0.04%	0.01%	0.01%
CODI	B	0.06%	0.02%	0.02%
COLB	B	0.27%	0.08%	0.08%
COOP	B	0.25%	0.08%	0.08%
CPF	B	0.03%	0.01%	0.01%
CTBI	B	0.04%	0.01%	0.01%
CUBI	C	0.07%	0.02%	0.02%
CVBF	B	0.12%	0.04%	0.04%
DBRG	F	0.02%	0.03%	0.02%
DCOM	A	0.05%	0.01%	0.01%
DFIN	D	0.03%	0.02%	0.02%
DX	A	0.04%	0.01%	0.01%
EBC	B	0.06%	0.04%	0.04%
ECPG	C	0.05%	0.01%	0.01%
EEFT	C	0.09%	0.06%	0.06%
EFC	C	0.04%	0.01%	0.01%
EFSC	B	0.09%	0.03%	0.03%
EGBN	B	0.04%	0.01%	0.01%
EIG	B	0.03%	0.02%	0.02%
ENVA	B	0.11%	0.03%	0.03%
EQBK	B	0.03%	0.01%	0.01%
ESGR	B	0.16%	0.05%	0.05%
ESNT	D	0.25%	0.07%	0.07%
EVR	B	0.33%	0.14%	0.14%
EVTC	B	0.05%	0.03%	0.03%
EWBC	A	0.61%	0.18%	0.18%
EZPW	A	0.01%	0.01%	0.01%
FAF	C	0.28%	0.08%	0.08%
FBK	B	0.09%	0.03%	0.03%
FBMS	B	0.04%	0.01%	0.01%
FBNC	B	0.08%	0.02%	0.02%
FBP	B	0.14%	0.04%	0.04%
FBRT	C	0.04%	0.01%	0.01%
FCBC	B	0.03%	0.01%	0.01%
FCF	B	0.08%	0.02%	0.02%
FFBC	B	0.12%	0.03%	0.03%
FFIN	B	0.17%	0.06%	0.06%
FG	B	0.03%	0.01%	0.01%
FHB	B	0.15%	0.05%	0.05%
FHI	B	0.15%	0.04%	0.04%
FHN	A	0.47%	0.14%	0.14%
FIBK	B	0.13%	0.04%	0.04%
FMBH	B	0.04%	0.01%	0.01%
FNB	B	0.25%	0.08%	0.08%
FRME	B	0.11%	0.03%	0.03%
FULT	B	0.16%	0.04%	0.04%
GABC	B	0.04%	0.02%	0.02%
GBCI	B	0.27%	0.08%	0.08%
GL	C	0.43%	0.13%	0.13%
GSBC	B	0.02%	0.01%	0.01%
HASI	F	0.07%	0.04%	0.04%
HBNC	B	0.03%	0.01%	0.01%
HBT	B	0.01%	0.0%	0.0%
HFWA	B	0.04%	0.01%	0.01%
HLI	B	0.17%	0.12%	0.12%
HMN	B	0.07%	0.02%	0.02%
HOMB	A	0.15%	0.07%	0.07%
HOPE	B	0.07%	0.02%	0.02%
HTBK	B	0.03%	0.01%	0.01%
HTH	B	0.06%	0.02%	0.02%
HTLF	B	0.12%	0.04%	0.04%
HWC	B	0.21%	0.06%	0.06%
IBCP	B	0.03%	0.01%	0.01%
IBOC	B	0.08%	0.05%	0.05%
IBTX	B	0.1%	0.03%	0.03%
IIIV	B	0.01%	0.01%	0.01%
IMXI	B	0.01%	0.01%	0.01%
INDB	B	0.13%	0.04%	0.04%
IVZ	C	0.24%	0.07%	0.07%
JEF	A	0.32%	0.15%	0.15%
JHG	B	0.24%	0.08%	0.08%
JXN	C	0.26%	0.09%	0.09%
KMPR	A	0.18%	0.06%	0.06%
KREF	D	0.03%	0.01%	0.01%
LADR	B	0.06%	0.02%	0.02%
LC	B	0.03%	0.02%	0.02%
LKFN	B	0.05%	0.02%	0.02%
LMND	A	0.04%	0.02%	0.02%
LNC	B	0.25%	0.07%	0.07%
LPRO	C	0.03%	0.01%	0.01%
MBIN	F	0.01%	0.01%	0.01%
MBWM	B	0.03%	0.01%	0.01%
MC	B	0.22%	0.06%	0.06%
MCBS	B	0.03%	0.01%	0.01%
MCY	B	0.04%	0.03%	0.03%
MKTX	D	0.15%	0.12%	0.12%
MQ	F	0.04%	0.02%	0.02%
MTG	D	0.28%	0.08%	0.08%
NATL	B	0.09%	0.03%	0.03%
NAVI	F	0.05%	0.02%	0.02%
NBHC	B	0.07%	0.02%	0.02%
NBTB	B	0.1%	0.03%	0.03%
NIC	B	0.04%	0.02%	0.02%
NMIH	D	0.12%	0.04%	0.04%
NNI	D	0.06%	0.02%	0.02%
NRDS	C	0.01%	0.01%	0.01%
NWBI	B	0.08%	0.02%	0.02%
OBK	B	0.04%	0.01%	0.01%
OCFC	B	0.05%	0.02%	0.02%
OFG	B	0.09%	0.02%	0.02%
OMF	A	0.27%	0.09%	0.09%
ONB	B	0.29%	0.09%	0.09%
ORI	A	0.4%	0.12%	0.12%
OSBC	B	0.03%	0.01%	0.01%
OZK	B	0.22%	0.06%	0.06%
PB	A	0.33%	0.1%	0.1%
PEBO	B	0.05%	0.02%	0.02%
PFBC	B	0.03%	0.01%	0.01%
PFC	B	0.04%	0.01%	0.01%
PFS	B	0.11%	0.03%	0.03%
PFSI	C	0.12%	0.05%	0.05%
PIPR	B	0.12%	0.07%	0.07%
PMT	D	0.05%	0.02%	0.02%
PNFP	B	0.4%	0.12%	0.12%
PPBI	B	0.11%	0.03%	0.03%
PRA	B	0.02%	0.01%	0.01%
PRAA	C	0.04%	0.01%	0.01%
PRG	C	0.09%	0.03%	0.03%
PRI	A	0.18%	0.13%	0.13%
PRK	B	0.12%	0.04%	0.04%
QCRH	B	0.04%	0.02%	0.02%
RBCAA	B	0.02%	0.01%	0.01%
RC	D	0.05%	0.02%	0.02%
RDN	D	0.12%	0.07%	0.07%
RILY	F	0.0%	0.0%	0.0%
RKT	F	0.07%	0.02%	0.02%
RPAY	D	0.01%	0.01%	0.01%
RWT	D	0.04%	0.01%	0.01%
SAFT	B	0.03%	0.01%	0.01%
SASR	B	0.07%	0.02%	0.02%
SBCF	B	0.04%	0.03%	0.03%
SBSI	B	0.05%	0.01%	0.01%
SEIC	B	0.12%	0.11%	0.11%
SF	B	0.49%	0.15%	0.15%
SFBS	B	0.13%	0.06%	0.06%
SFNC	B	0.13%	0.04%	0.04%
SIGI	B	0.18%	0.07%	0.07%
SKWD	A	0.04%	0.02%	0.02%
SLM	B	0.23%	0.06%	0.06%
SNEX	B	0.06%	0.03%	0.03%
SNV	B	0.35%	0.11%	0.11%
SPNT	A	0.06%	0.02%	0.02%
SRCE	B	0.05%	0.02%	0.02%
SSB	B	0.34%	0.1%	0.1%
STBA	B	0.07%	0.02%	0.02%
STC	B	0.09%	0.02%	0.02%
STEP	B	0.08%	0.05%	0.05%
STWD	C	0.26%	0.07%	0.07%
SYBT	B	0.04%	0.03%	0.03%
TBBK	B	0.04%	0.03%	0.03%
TCBI	B	0.17%	0.05%	0.05%
TCBK	B	0.06%	0.02%	0.02%
TFIN	B	0.05%	0.03%	0.03%
TFSL	A	0.01%	0.01%	0.01%
THG	A	0.12%	0.07%	0.07%
TIPT	B	0.01%	0.01%	0.01%
TMP	B	0.04%	0.01%	0.01%
TOWN	B	0.1%	0.03%	0.03%
TPG	A	0.1%	0.06%	0.06%
TREE	F	0.02%	0.01%	0.01%
TRMK	B	0.09%	0.03%	0.03%
TRST	B	0.03%	0.01%	0.01%
TRTX	B	0.02%	0.01%	0.01%
TRUP	B	0.02%	0.02%	0.02%
UBSI	B	0.24%	0.07%	0.07%
UCB	A	0.16%	0.04%	0.04%
UFCS	A	0.02%	0.01%	0.01%
UMBF	B	0.24%	0.07%	0.07%
UVSP	B	0.04%	0.01%	0.01%
VBTX	B	0.06%	0.02%	0.02%
VCTR	B	0.05%	0.04%	0.04%
VIRT	A	0.12%	0.04%	0.04%
VLY	B	0.19%	0.06%	0.06%
VOYA	B	0.22%	0.1%	0.1%
VRTS	B	0.04%	0.02%	0.02%
WABC	B	0.06%	0.02%	0.02%
WAFD	B	0.13%	0.04%	0.04%
WAL	B	0.42%	0.12%	0.12%
WBS	A	0.44%	0.13%	0.13%
WD	D	0.15%	0.05%	0.05%
WEX	F	0.13%	0.09%	0.09%
WRLD	D	0.02%	0.0%	0.0%
WSBC	B	0.09%	0.03%	0.03%
WSFS	B	0.08%	0.04%	0.04%
WT	A	0.02%	0.02%	0.02%
WTFC	B	0.36%	0.11%	0.11%
WTM	A	0.07%	0.06%	0.06%
WU	F	0.15%	0.03%	0.03%
ZION	B	0.37%	0.11%	0.11%

ISCV Overweight 870 Positions Relative to FNCL

Symbol	Grade	Weight
CVNA	A	0.61%
TPR	B	0.55%
CHRW	B	0.54%
Z	A	0.5%
AA	A	0.46%
PNW	B	0.44%
LAD	B	0.43%
DTM	A	0.41%
OHI	B	0.41%
NLY	C	0.41%
PR	B	0.39%
FBIN	F	0.39%
WCC	B	0.38%
AAL	B	0.37%
HSIC	C	0.37%
FLR	B	0.37%
LUMN	C	0.36%
OGE	A	0.36%
JLL	D	0.35%
X	C	0.34%
RRC	B	0.34%
BERY	D	0.33%
CHRD	F	0.33%
BWA	D	0.33%
MHK	D	0.32%
JAZZ	C	0.32%
RIVN	F	0.31%
VNO	C	0.3%
BBWI	C	0.3%
FMC	D	0.29%
MTDR	C	0.29%
CMC	B	0.29%
GME	C	0.29%
DAR	B	0.29%
ELAN	D	0.29%
ALK	A	0.29%
G	B	0.29%
TMHC	B	0.29%
VFC	C	0.28%
VMI	B	0.28%
FYBR	C	0.27%
KD	A	0.27%
MTH	D	0.27%
PARA	D	0.26%
INGR	B	0.26%
LAMR	D	0.26%
ARW	F	0.26%
WHR	B	0.26%
BECN	B	0.26%
ALSN	B	0.26%
AGCO	F	0.25%
GNRC	B	0.25%
NFG	A	0.24%
GPI	B	0.24%
PVH	C	0.24%
WH	B	0.23%
RITM	D	0.23%
BCC	C	0.23%
BRX	A	0.23%
SEE	D	0.22%
EAT	A	0.22%
ABG	B	0.22%
KBH	D	0.22%
SON	F	0.21%
AUR	C	0.21%
MLI	B	0.21%
RVMD	B	0.21%
SLG	B	0.21%
BYD	B	0.21%
OLN	F	0.21%
MUR	F	0.21%
SM	C	0.21%
HAS	D	0.21%
NXST	C	0.21%
KTB	A	0.21%
UGI	C	0.21%
HRB	D	0.21%
MGY	A	0.2%
AVNT	B	0.2%
CIEN	B	0.2%
CZR	F	0.2%
ST	F	0.2%
ROIV	D	0.2%
OSK	C	0.2%
AVT	C	0.2%
SLGN	A	0.19%
HOG	F	0.19%
KRC	C	0.19%
FRT	B	0.19%
GPK	D	0.19%
GXO	B	0.18%
TXNM	A	0.18%
MAC	A	0.18%
NNN	C	0.18%
CROX	F	0.18%
BIO	C	0.18%
SWX	A	0.18%
CTRE	C	0.18%
M	D	0.18%
SIG	C	0.18%
FLO	D	0.18%
BKH	A	0.18%
MHO	D	0.18%
CUZ	B	0.18%
LPX	B	0.18%
AN	D	0.18%
OGS	A	0.17%
R	B	0.17%
MIDD	D	0.17%
ESI	B	0.17%
MAT	D	0.17%
RGLD	C	0.17%
SFM	A	0.17%
IDA	A	0.17%
ADC	A	0.17%
ALE	A	0.16%
DBX	C	0.16%
CIVI	D	0.16%
DXC	D	0.16%
SAIC	F	0.16%
CNX	A	0.16%
XRAY	D	0.16%
GTES	A	0.16%
TNL	B	0.16%
NOG	B	0.16%
STAG	D	0.16%
CALM	A	0.16%
LYFT	C	0.16%
SR	A	0.16%
ZG	A	0.16%
GMS	B	0.16%
OGN	F	0.16%
SBRA	B	0.16%
TPH	D	0.16%
LBRDK	C	0.16%
AM	A	0.15%
MDU	D	0.15%
NWL	B	0.15%
CCOI	B	0.15%
TEX	D	0.15%
GMED	A	0.15%
GEO	A	0.15%
ALV	C	0.15%
NVST	C	0.15%
ASO	F	0.15%
TTC	F	0.15%
LSTR	D	0.15%
MATX	B	0.15%
CRUS	F	0.15%
PII	F	0.15%
UFPI	C	0.15%
PRGO	C	0.15%
MKSI	C	0.15%
W	D	0.15%
BTU	C	0.14%
CYTK	D	0.14%
DNB	B	0.14%
CRC	A	0.14%
HP	C	0.14%
LEA	F	0.14%
EPR	D	0.14%
CACI	C	0.14%
NJR	A	0.14%
HIW	D	0.14%
HCC	B	0.14%
ATR	B	0.14%
AYI	B	0.13%
MAN	F	0.13%
TGNA	B	0.13%
SLVM	C	0.13%
MTN	C	0.13%
PK	D	0.13%
HUBG	A	0.13%
FLG	D	0.13%
MMS	D	0.13%
TDS	B	0.13%
GATX	B	0.13%
FLS	A	0.13%
CXT	C	0.13%
KNX	B	0.13%
NEOG	D	0.13%
BC	D	0.13%
NWE	C	0.13%
PBF	D	0.13%
GHC	B	0.13%
RHI	C	0.12%
SATS	C	0.12%
CC	D	0.12%
VAC	C	0.12%
HRI	C	0.12%
MASI	B	0.12%
PENN	C	0.12%
THO	C	0.12%
HBI	B	0.12%
PRGS	B	0.12%
ARCH	B	0.12%
ALTM	C	0.12%
AVA	C	0.12%
RL	C	0.12%
POR	C	0.12%
IAC	D	0.11%
CORZ	B	0.11%
ZD	B	0.11%
MSA	D	0.11%
KEX	B	0.11%
COLD	F	0.11%
VC	F	0.11%
VSCO	A	0.11%
CR	A	0.11%
MTX	C	0.11%
PSN	C	0.11%
MPW	F	0.11%
SANM	B	0.11%
REXR	F	0.11%
GT	C	0.11%
DEI	B	0.11%
AL	B	0.11%
ASGN	F	0.11%
NEU	D	0.11%
PTON	C	0.11%
LXP	D	0.11%
LBRT	F	0.11%
CORT	C	0.1%
JBLU	F	0.1%
WLY	B	0.1%
CAKE	B	0.1%
CRSP	D	0.1%
EPRT	A	0.1%
AHR	A	0.1%
COMP	B	0.1%
VSTO	A	0.1%
CXW	B	0.1%
PINC	B	0.1%
PHIN	B	0.1%
TTMI	B	0.1%
NOV	D	0.1%
CEIX	A	0.1%
FTDR	B	0.1%
TPX	B	0.1%
SITE	D	0.1%
LITE	B	0.1%
ENOV	C	0.1%
RKLB	B	0.1%
PBH	A	0.1%
TKR	F	0.1%
CPRI	F	0.1%
JWN	C	0.1%
POST	C	0.1%
AXTA	B	0.1%
CRGY	A	0.09%
GBX	B	0.09%
MSM	D	0.09%
RIG	D	0.09%
CLF	F	0.09%
GPOR	A	0.09%
AMED	F	0.09%
VYX	C	0.09%
PRKS	B	0.09%
CNK	A	0.09%
PCH	D	0.09%
GAP	D	0.09%
REZI	A	0.09%
OMCL	C	0.09%
LBTYK	A	0.09%
ENS	D	0.09%
WHD	B	0.09%
ETSY	D	0.09%
ALKS	C	0.09%
SHOO	D	0.09%
NSIT	F	0.09%
MRCY	C	0.09%
MBC	F	0.09%
KMT	C	0.09%
NMRK	B	0.09%
EQC	A	0.09%
IRT	A	0.09%
AEIS	B	0.09%
RUN	F	0.09%
LGIH	F	0.09%
GRBK	D	0.09%
CWK	C	0.09%
ENR	B	0.09%
VNT	C	0.09%
ADT	B	0.09%
B	A	0.09%
VSH	F	0.08%
SKYW	B	0.08%
HE	C	0.08%
CAR	C	0.08%
CABO	C	0.08%
RH	D	0.08%
DRH	B	0.08%
QDEL	F	0.08%
KOS	D	0.08%
FCPT	C	0.08%
LZB	B	0.08%
AKR	A	0.08%
ASH	F	0.08%
BLKB	B	0.08%
SUPN	B	0.08%
ATKR	D	0.08%
KNF	B	0.08%
UAA	C	0.08%
HGV	C	0.08%
RYN	D	0.08%
STR	A	0.08%
OTTR	C	0.08%
CBT	C	0.08%
TGTX	B	0.08%
BDC	B	0.08%
TNET	F	0.08%
LCII	D	0.08%
CRI	F	0.08%
HUN	F	0.08%
FL	F	0.08%
HLMN	B	0.08%
POWI	D	0.08%
AROC	A	0.08%
SEM	B	0.08%
GVA	A	0.08%
KSS	F	0.08%
MGEE	A	0.08%
HL	C	0.08%
OI	D	0.08%
INFA	D	0.08%
ESAB	C	0.08%
H	B	0.08%
ALIT	C	0.08%
LBTYA	F	0.08%
BNL	D	0.08%
NGVT	C	0.07%
RUSHA	B	0.07%
SKT	A	0.07%
CSGS	B	0.07%
LEG	F	0.07%
UPBD	C	0.07%
STEL	B	0.07%
PLXS	B	0.07%
IART	C	0.07%
NWN	A	0.07%
HNI	B	0.07%
PDCO	F	0.07%
LEVI	F	0.07%
CDP	C	0.07%
SNDR	B	0.07%
DNLI	C	0.07%
PRIM	A	0.07%
FCFS	F	0.07%
AMC	D	0.07%
RNG	C	0.07%
BRC	C	0.07%
JOBY	B	0.07%
CENTA	C	0.07%
CCS	F	0.07%
ABM	B	0.07%
PATK	D	0.07%
CPK	A	0.07%
NSA	C	0.07%
AMR	C	0.07%
KN	B	0.07%
LTC	B	0.07%
WKC	D	0.07%
MOG.A	B	0.07%
CNXC	F	0.07%
QS	D	0.07%
RXO	C	0.07%
ICUI	D	0.07%
COLM	B	0.07%
BEAM	C	0.07%
SMG	C	0.07%
EPC	F	0.07%
KFY	B	0.07%
WWW	A	0.07%
FUL	F	0.07%
WGO	D	0.07%
GEF	B	0.07%
DDS	B	0.07%
BOOT	D	0.07%
LAUR	A	0.06%
DORM	B	0.06%
TROX	D	0.06%
DBD	D	0.06%
IPGP	D	0.06%
TRN	A	0.06%
WERN	B	0.06%
UVV	B	0.06%
LRN	A	0.06%
UNIT	B	0.06%
JBT	A	0.06%
UNF	B	0.06%
AEO	F	0.06%
UA	C	0.06%
SPR	D	0.06%
SBH	B	0.06%
ARCB	C	0.06%
PTEN	C	0.06%
WEN	C	0.06%
AMBA	B	0.06%
IIPR	F	0.06%
PLAB	D	0.06%
SABR	B	0.06%
NXT	D	0.06%
AMKR	F	0.06%
ELME	D	0.06%
VRNT	D	0.06%
INSW	F	0.06%
AGIO	C	0.06%
GNL	D	0.06%
OUT	A	0.06%
IVT	A	0.06%
ROIC	A	0.06%
HI	C	0.06%
ACIW	B	0.06%
NTCT	C	0.06%
MSGS	B	0.06%
CWT	C	0.06%
BKE	B	0.06%
SXT	C	0.06%
THS	F	0.06%
ATGE	B	0.06%
HELE	C	0.06%
DIOD	F	0.06%
HAYW	B	0.05%
GTY	A	0.05%
MSGE	F	0.05%
CBRL	C	0.05%
KNTK	A	0.05%
ITGR	B	0.05%
PCT	C	0.05%
SJW	F	0.05%
AMRX	C	0.05%
CSR	A	0.05%
YELP	C	0.05%
MRC	B	0.05%
VSTS	F	0.05%
DYN	F	0.05%
ZI	D	0.05%
URBN	C	0.05%
GOLF	B	0.05%
AZZ	A	0.05%
DRS	B	0.05%
KLG	D	0.05%
GFF	B	0.05%
CPRX	C	0.05%
MFA	D	0.05%
CLVT	D	0.05%
DEA	D	0.05%
CIM	D	0.05%
MWA	B	0.05%
DK	D	0.05%
SCS	B	0.05%
CRK	A	0.05%
HHH	B	0.05%
OXM	F	0.05%
KW	B	0.05%
TWO	D	0.05%
MD	C	0.05%
UPWK	C	0.05%
CDE	C	0.05%
PDM	D	0.05%
BCO	F	0.05%
TPC	C	0.05%
AIR	B	0.05%
SCSC	B	0.05%
GIII	D	0.05%
ALGT	C	0.05%
PLAY	D	0.05%
YETI	D	0.05%
AAP	D	0.05%
CMPR	F	0.05%
REVG	B	0.05%
ADEA	C	0.05%
KALU	C	0.05%
FDP	B	0.05%
JBGS	F	0.05%
WOR	F	0.05%
UNFI	B	0.05%
PECO	A	0.05%
LBPH	A	0.04%
HCSG	C	0.04%
AIN	C	0.04%
ASTE	C	0.04%
JACK	D	0.04%
KURA	F	0.04%
WS	B	0.04%
LGND	C	0.04%
RRR	F	0.04%
JELD	F	0.04%
LGF.A	F	0.04%
PRDO	B	0.04%
MNRO	C	0.04%
TGI	A	0.04%
AAT	A	0.04%
BDN	C	0.04%
ODP	F	0.04%
PGRE	D	0.04%
SXI	B	0.04%
FOXF	F	0.04%
MLKN	F	0.04%
PEB	F	0.04%
AMN	F	0.04%
PPC	B	0.04%
AMWD	C	0.04%
MGNI	A	0.04%
ESRT	C	0.04%
BHE	B	0.04%
USM	B	0.04%
GO	C	0.04%
ARR	D	0.04%
OSIS	A	0.04%
VAL	F	0.04%
ADNT	F	0.04%
GTX	F	0.04%
SAH	B	0.04%
AGX	B	0.04%
REYN	D	0.04%
ULS	C	0.04%
HLIO	C	0.04%
COLL	F	0.04%
BKD	F	0.04%
DLX	B	0.04%
UTL	C	0.04%
TDOC	D	0.04%
OPEN	F	0.04%
NEO	C	0.04%
UE	A	0.04%
SYNA	D	0.04%
LPG	F	0.04%
XRX	F	0.04%
NHC	B	0.04%
RDFN	D	0.04%
HUT	B	0.04%
HEES	C	0.04%
CWEN	C	0.04%
IMKTA	C	0.04%
TDW	F	0.04%
VIAV	C	0.04%
PTCT	C	0.04%
NPO	A	0.04%
JJSF	C	0.04%
ANDE	F	0.04%
TDC	D	0.04%
SXC	A	0.04%
TRS	B	0.04%
PARR	F	0.04%
APOG	B	0.04%
INVA	C	0.04%
DAN	F	0.04%
PLUS	F	0.04%
BLMN	F	0.04%
ARWR	D	0.04%
CAL	F	0.04%
PLTK	B	0.03%
VSAT	F	0.03%
VRDN	D	0.03%
IRWD	F	0.03%
NXRT	A	0.03%
AVNS	F	0.03%
MXL	C	0.03%
LBRDA	C	0.03%
TNDM	F	0.03%
FWRD	D	0.03%
ACEL	C	0.03%
RCKT	F	0.03%
RLJ	C	0.03%
HY	D	0.03%
KROS	D	0.03%
CWH	C	0.03%
SPTN	F	0.03%
PBI	B	0.03%
FTRE	D	0.03%
HTLD	B	0.03%
KAR	A	0.03%
MSEX	B	0.03%
NX	C	0.03%
WTTR	A	0.03%
SNDX	F	0.03%
CVI	D	0.03%
CNDT	D	0.03%
HAIN	D	0.03%
STGW	B	0.03%
ETD	D	0.03%
BXC	B	0.03%
MRTN	C	0.03%
MATV	F	0.03%
ETNB	D	0.03%
INN	D	0.03%
ZYME	C	0.03%
RGR	F	0.03%
SEB	F	0.03%
SHEN	F	0.03%
SMP	C	0.03%
VTS	A	0.03%
BV	C	0.03%
PWP	A	0.03%
GNK	D	0.03%
ATMU	A	0.03%
EVRI	A	0.03%
INFN	D	0.03%
NAPA	A	0.03%
DNOW	B	0.03%
MATW	C	0.03%
SMMT	D	0.03%
VVX	C	0.03%
ATSG	A	0.03%
AKRO	C	0.03%
AXL	C	0.03%
VTOL	B	0.03%
DVAX	C	0.03%
VIR	F	0.03%
LILAK	F	0.03%
CARS	C	0.03%
AHH	D	0.03%
RYI	C	0.03%
NVCR	D	0.03%
VTLE	C	0.03%
BBIO	F	0.03%
TALO	C	0.03%
SSTK	F	0.03%
DOCN	D	0.03%
VRE	A	0.03%
HLF	C	0.03%
FA	D	0.03%
PSMT	D	0.03%
FOLD	F	0.03%
PRM	B	0.03%
ASIX	C	0.03%
CHEF	B	0.03%
WMK	B	0.03%
SCL	D	0.03%
SHC	F	0.03%
MBUU	C	0.03%
EMBC	D	0.03%
AESI	B	0.03%
IDYA	F	0.03%
RCUS	F	0.02%
ACHR	B	0.02%
FIP	D	0.02%
PCRX	C	0.02%
CNSL	B	0.02%
IDT	B	0.02%
NUVB	C	0.02%
LGF.A	F	0.02%
NUS	C	0.02%
SD	F	0.02%
MGPI	F	0.02%
VZIO	A	0.02%
SNCY	C	0.02%
WSR	A	0.02%
PLRX	D	0.02%
VECO	F	0.02%
MLR	C	0.02%
CGEM	F	0.02%
GRNT	B	0.02%
VREX	C	0.02%
HOUS	D	0.02%
JBSS	F	0.02%
RGNX	D	0.02%
NEXT	B	0.02%
SCVL	F	0.02%
SEDG	F	0.02%
CBL	A	0.02%
CWEN	C	0.02%
SDGR	C	0.02%
LXU	C	0.02%
KOP	C	0.02%
CCO	D	0.02%
BBSI	B	0.02%
AUPH	C	0.02%
BALY	A	0.02%
GOOD	A	0.02%
GTN	F	0.02%
WNC	D	0.02%
NVAX	F	0.02%
CLW	F	0.02%
PRLB	C	0.02%
SAFE	F	0.02%
CMCO	C	0.02%
NBR	D	0.02%
ALEX	B	0.02%
CHPT	F	0.02%
DHC	F	0.02%
TWI	F	0.02%
THRY	F	0.02%
SITC	D	0.02%
USNA	C	0.02%
OMI	F	0.02%
DRVN	B	0.02%
SVC	F	0.02%
ECVT	C	0.02%
MTTR	B	0.02%
KELYA	F	0.02%
AORT	B	0.02%
PLYM	F	0.02%
RDUS	C	0.02%
ALX	D	0.02%
NTST	D	0.02%
NVEE	F	0.02%
HPP	F	0.02%
ARVN	F	0.02%
TTGT	B	0.02%
BTSG	B	0.02%
PKST	F	0.02%
BGS	F	0.02%
CVLG	B	0.02%
MCW	C	0.02%
FIZZ	C	0.02%
PZZA	F	0.02%
AGL	F	0.02%
PTVE	B	0.02%
BFS	C	0.02%
SAVA	C	0.02%
AMRK	F	0.02%
CSTL	C	0.02%
OPK	B	0.02%
CMP	C	0.02%
CNXN	D	0.02%
DIN	C	0.02%
OEC	C	0.02%
TILE	B	0.02%
WOLF	F	0.02%
GDEN	B	0.02%
TLRY	F	0.02%
AMRC	F	0.02%
NYMT	C	0.02%
NR	C	0.02%
SYRE	D	0.02%
EBF	D	0.02%
ATUS	C	0.02%
SBGI	B	0.02%
HSII	B	0.02%
SRRK	B	0.02%
HTZ	C	0.02%
UMH	A	0.02%
NVRI	F	0.02%
KFRC	D	0.02%
AIV	C	0.02%
EGY	F	0.02%
EYE	C	0.02%
RAMP	C	0.02%
MMI	B	0.02%
SCHL	F	0.02%
USPH	C	0.02%
TNC	F	0.02%
PLUG	F	0.02%
TXG	F	0.02%
HZO	F	0.02%
PARAA	C	0.01%
ORIC	F	0.01%
HPK	C	0.01%
CTRI	B	0.01%
MITK	D	0.01%
DH	F	0.01%
TTI	B	0.01%
GOGO	C	0.01%
ACDC	C	0.01%
TYRA	D	0.01%
FRPH	A	0.01%
BYON	F	0.01%
PTLO	F	0.01%
AVO	B	0.01%
REPX	A	0.01%
ALEC	F	0.01%
PLPC	B	0.01%
ACCD	F	0.01%
RUSHB	B	0.01%
GDRX	F	0.01%
LEGH	D	0.01%
UP	F	0.01%
CTOS	B	0.01%
CHCT	C	0.01%
TITN	D	0.01%
GEF	B	0.01%
HG	C	0.01%
BLFS	C	0.01%
ETWO	F	0.01%
KRT	B	0.01%
QTRX	D	0.01%
LILA	F	0.01%
TBLA	F	0.01%
CYRX	F	0.01%
PUMP	D	0.01%
FSLY	F	0.01%
FIGS	F	0.01%
OLPX	D	0.01%
ULCC	D	0.01%
RSI	B	0.01%
BMBL	C	0.01%
JBI	F	0.01%
RES	F	0.01%
COGT	D	0.01%
KRO	F	0.01%
OLMA	F	0.01%
OLO	B	0.01%
OABI	D	0.01%
FPI	A	0.01%
MERC	F	0.01%
SEAT	F	0.01%
SEMR	C	0.01%
GES	F	0.01%
ENFN	B	0.01%
KGS	A	0.01%
ARHS	F	0.01%
TARS	C	0.01%
MYE	F	0.01%
THR	B	0.01%
ATRO	F	0.01%
NOVA	F	0.01%
GMRE	F	0.01%
SWBI	C	0.01%
STOK	D	0.01%
IIIN	D	0.01%
PACK	C	0.01%
HVT	D	0.01%
UTZ	D	0.01%
AOSL	C	0.01%
MLAB	F	0.01%
EVER	F	0.01%
SNRE	D	0.01%
HCKT	B	0.01%
CCRN	F	0.01%
GCT	C	0.01%
FOR	F	0.01%
CLNE	F	0.01%
REX	D	0.01%
NPK	C	0.01%
BRY	F	0.01%
UHT	D	0.01%
ACIC	B	0.01%
MTUS	D	0.01%
DAWN	D	0.01%
METC	C	0.01%
IE	C	0.01%
KNSA	F	0.01%
LESL	C	0.01%
KE	C	0.01%
DXPE	B	0.01%
CENT	C	0.01%
ULH	B	0.01%
CRSR	D	0.01%
SWI	B	0.01%
PLOW	D	0.01%
LEU	C	0.01%
ARKO	D	0.01%
LMB	A	0.01%
FLGT	F	0.01%
LFST	C	0.01%
ROOT	B	0.01%
BELFB	C	0.01%
ALXO	F	0.0%
NKLA	F	0.0%
EWCZ	D	0.0%
SAGE	F	0.0%
SANA	F	0.0%
CDLX	D	0.0%
ACTG	F	0.0%
LYEL	F	0.0%
ANAB	F	0.0%
ZNTL	D	0.0%
GIC	F	0.0%
DNA	F	0.0%
GYRE	D	0.0%
WEST	C	0.0%
CHGG	F	0.0%
CABA	F	0.0%
TH	C	0.0%
MAX	F	0.0%
BOWL	D	0.0%
PGY	F	0.0%
YMAB	F	0.0%

ISCV Underweight 137 Positions Relative to FNCL

Symbol	Grade	Weight
JPM	A	-8.6%
BRK.A	B	-7.67%
V	A	-6.01%
MA	B	-5.35%
BAC	A	-4.0%
WFC	A	-3.14%
GS	B	-2.35%
AXP	B	-2.05%
SPGI	D	-2.02%
MS	A	-2.0%
BLK	B	-1.93%
PGR	B	-1.87%
C	B	-1.61%
BX	A	-1.6%
FI	A	-1.53%
SCHW	A	-1.5%
CB	C	-1.37%
MMC	D	-1.35%
KKR	A	-1.16%
ICE	C	-1.11%
PYPL	B	-1.05%
PNC	B	-1.03%
CME	A	-0.99%
USB	B	-0.98%
MCO	D	-0.98%
AON	B	-0.91%
COF	B	-0.87%
APO	A	-0.81%
AJG	B	-0.8%
TFC	A	-0.77%
AFL	C	-0.74%
TRV	A	-0.73%
BK	B	-0.71%
AMP	A	-0.69%
COIN	A	-0.66%
ALL	A	-0.64%
MET	A	-0.63%
AIG	C	-0.63%
FIS	C	-0.61%
MSCI	B	-0.59%
SQ	A	-0.58%
PRU	B	-0.56%
DFS	B	-0.54%
ACGL	D	-0.46%
MTB	A	-0.44%
HIG	B	-0.43%
NDAQ	A	-0.42%
WTW	B	-0.4%
FITB	B	-0.4%
ARES	A	-0.39%
RJF	A	-0.39%
GPN	C	-0.37%
STT	B	-0.35%
BRO	B	-0.33%
TROW	B	-0.33%
HBAN	B	-0.32%
SYF	B	-0.32%
CPAY	A	-0.31%
RF	A	-0.3%
LPLA	A	-0.29%
CINF	A	-0.29%
MKL	A	-0.28%
CFG	B	-0.27%
NTRS	A	-0.27%
FCNCA	A	-0.27%
CBOE	C	-0.26%
PFG	C	-0.25%
KEY	B	-0.23%
WRB	B	-0.23%
FDS	B	-0.23%
IBKR	A	-0.22%
HOOD	A	-0.21%
L	A	-0.2%
EG	D	-0.2%
RGA	B	-0.19%
EQH	B	-0.19%
FNF	A	-0.19%
TOST	A	-0.18%
TW	A	-0.18%
SOFI	A	-0.17%
RNR	C	-0.17%
UNM	A	-0.16%
AFRM	A	-0.16%
JKHY	D	-0.16%
CG	B	-0.15%
ERIE	F	-0.13%
AFG	A	-0.13%
KNSL	B	-0.13%
OWL	A	-0.13%
MORN	B	-0.12%
ALLY	C	-0.12%
RLI	A	-0.09%
RYAN	B	-0.09%
HLNE	A	-0.09%
BEN	C	-0.08%
FOUR	A	-0.07%
UPST	B	-0.06%
PJT	B	-0.05%
GSHD	B	-0.04%
GNW	A	-0.04%
FRHC	A	-0.03%
RNST	B	-0.03%
FLYW	B	-0.03%
OSCR	C	-0.03%
PLMR	A	-0.03%
CNS	B	-0.03%
PAYO	A	-0.03%
LOB	C	-0.02%
HONE	B	-0.01%
KRNY	B	-0.01%
CCBG	B	-0.01%
GDOT	D	-0.01%
PX	A	-0.01%
HAFC	B	-0.01%
UWMC	D	-0.01%
NFBK	B	-0.01%
BHB	B	-0.01%
SPFI	B	-0.01%
PGC	A	-0.01%
FMNB	B	-0.01%
MCB	B	-0.01%
FSBC	B	-0.01%
THFF	B	-0.01%
CTLP	B	-0.01%
MSBI	B	-0.01%
PAY	A	-0.01%
SMBC	B	-0.01%
UVE	A	-0.01%
CAC	B	-0.01%
WASH	B	-0.01%
BHRB	B	-0.01%
HCI	C	-0.01%
AROW	B	-0.0%
GCBC	C	-0.0%
DGICA	A	-0.0%
DHIL	A	-0.0%
HGTY	B	-0.0%