IUS vs. MFUS ETF Comparison

Comparison of Invesco Strategic US ETF (IUS) to PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS)

IUS

Invesco Strategic US ETF

IUS Description

The investment seeks to track the investment results (before fees and expenses) of the Invesco Strategic US Index (the "underlying index"). The fund generally will invest at least 80% of its total assets in securities that comprise the underlying index. It generally invests in all of the securities comprising its underlying index in proportion to their weightings in the underlying index. The underlying index is designed to measure the performance of equity securities issued by higher quality, large-business-sized companies designated as U.S. companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$47.87

Average Daily Volume

67,923

Number of Holdings ^*

540

* may have additional holdings in another (foreign) market

MFUS

PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF

MFUS Description

The investment seeks to track the investment results of the RAFI Dynamic Multi-Factor U.S. Index. The fund seeks to achieve its investment objective by investing at least 80% of its total assets (exclusive of collateral held from securities lending) in the component securities of the RAFI Dynamic Multi-Factor U.S. Index. The underlying index is constructed by RAFI Indices, LLC (the index provider) using a rules-based approach to construct factor portfolios within the underlying index. The underlying index consists of factor portfolios, each of which emphasizes one of the following factors: value, low volatility, quality, momentum and size.

Grade (RS Rating)

Last Trade

$47.72

Average Daily Volume

7,491

Number of Holdings ^*

780

* may have additional holdings in another (foreign) market

Performance

Period	IUS	MFUS
30 Days	3.37%	4.11%
60 Days	0.34%	0.45%
90 Days	2.25%	2.34%
12 Months	18.76%	22.13%

412 Overlapping Holdings

	Symbol	Grade	Weight in IUS	Weight in MFUS	Overlap
	A	B	0.06%	0.05%	0.05%
	AA	F	0.03%	0.02%	0.02%
	AAP	F	0.02%	0.01%	0.01%
	AAPL	C	4.96%	0.68%	0.68%
	ABBV	B	0.76%	1.28%	0.76%
	ABG	D	0.04%	0.07%	0.04%
	ACI	D	0.13%	0.01%	0.01%
	ACM	B	0.05%	0.04%	0.04%
	ACN	A	0.47%	0.18%	0.18%
	ADBE	B	0.32%	0.04%	0.04%
	ADM	D	0.33%	0.32%	0.32%
	ADNT	F	0.03%	0.03%	0.03%
	ADP	B	0.16%	0.08%	0.08%
	ADSK	B	0.07%	0.08%	0.07%
	AES	D	0.05%	0.03%	0.03%
	AFG	A	0.05%	0.01%	0.01%
	AGCO	F	0.04%	0.02%	0.02%
	AIZ	B	0.05%	0.07%	0.05%
	AKAM	D	0.05%	0.03%	0.03%
	ALGN	F	0.03%	0.02%	0.02%
	ALL	B	0.26%	0.35%	0.26%
	AMAT	F	0.24%	0.48%	0.24%
	AMG	C	0.03%	0.05%	0.03%
	AMGN	C	0.27%	1.01%	0.27%
	AMKR	F	0.03%	0.03%	0.03%
	AMZN	D	1.88%	1.22%	1.22%
	AN	C	0.06%	0.09%	0.06%
	ANDE	D	0.04%	0.02%	0.02%
	ANET	D	0.04%	0.13%	0.04%
	ANSS	D	0.03%	0.06%	0.03%
	AON	A	0.15%	0.18%	0.15%
	AOS	D	0.03%	0.11%	0.03%
	APH	D	0.09%	0.11%	0.09%
	APP	B	0.03%	0.03%	0.03%
	AR	F	0.04%	0.04%	0.04%
	ARCH	F	0.02%	0.01%	0.01%
	ARW	B	0.1%	0.07%	0.07%
	ASO	C	0.03%	0.03%	0.03%
	AVGO	D	0.75%	1.42%	0.75%
	AVT	C	0.06%	0.05%	0.05%
	AVTR	B	0.04%	0.03%	0.03%
	AVY	B	0.04%	0.1%	0.04%
	AXP	B	0.49%	0.19%	0.19%
	AZO	B	0.15%	0.29%	0.15%
	BAH	B	0.03%	0.14%	0.03%
	BALL	A	0.05%	0.07%	0.05%
	BAX	A	0.08%	0.03%	0.03%
	BBY	A	0.16%	0.24%	0.16%
	BC	D	0.03%	0.06%	0.03%
	BCC	C	0.03%	0.06%	0.03%
	BDX	D	0.17%	0.09%	0.09%
	BECN	D	0.04%	0.01%	0.01%
	BEN	F	0.03%	0.04%	0.03%
	BERY	B	0.07%	0.06%	0.06%
	BIIB	D	0.07%	0.08%	0.07%
	BJ	D	0.05%	0.03%	0.03%
	BKNG	C	0.33%	0.47%	0.33%
	BKR	D	0.15%	0.17%	0.15%
	BLDR	C	0.12%	0.04%	0.04%
	BMY	B	0.57%	0.27%	0.27%
	BR	C	0.04%	0.15%	0.04%
	BRK.A	B	3.09%	2.02%	2.02%
	BRO	A	0.03%	0.13%	0.03%
	BSX	A	0.11%	0.18%	0.11%
	BTU	D	0.04%	0.04%	0.04%
	BURL	B	0.04%	0.03%	0.03%
	BWA	D	0.06%	0.05%	0.05%
	BX	B	0.21%	0.23%	0.21%
	CACI	B	0.03%	0.09%	0.03%
	CAG	A	0.07%	0.04%	0.04%
	CAH	A	0.46%	0.33%	0.33%
	CARR	B	0.11%	0.12%	0.11%
	CASY	C	0.05%	0.14%	0.05%
	CAT	C	0.43%	0.43%	0.43%
	CB	A	0.44%	0.15%	0.15%
	CCK	A	0.05%	0.06%	0.05%
	CCL	D	0.08%	0.05%	0.05%
	CDW	D	0.07%	0.05%	0.05%
	CE	F	0.05%	0.07%	0.05%
	CEG	D	0.04%	0.1%	0.04%
	CHD	A	0.04%	0.06%	0.04%
	CHRD	F	0.05%	0.02%	0.02%
	CHRW	B	0.08%	0.09%	0.08%
	CHTR	C	0.31%	0.25%	0.25%
	CI	B	0.74%	0.14%	0.14%
	CINF	B	0.09%	0.02%	0.02%
	CL	A	0.15%	0.32%	0.15%
	CLX	A	0.04%	0.14%	0.04%
	CMC	D	0.04%	0.07%	0.04%
	CMCSA	C	1.07%	0.24%	0.24%
	CMG	D	0.05%	0.22%	0.05%
	CMI	B	0.14%	0.11%	0.11%
	CNM	F	0.02%	0.01%	0.01%
	CNX	B	0.04%	0.06%	0.04%
	COHR	C	0.04%	0.02%	0.02%
	COP	D	0.71%	0.32%	0.32%
	COST	B	0.73%	1.17%	0.73%
	CPAY	B	0.05%	0.05%	0.05%
	CPB	A	0.03%	0.01%	0.01%
	CPNG	B	0.05%	0.03%	0.03%
	CPRI	C	0.04%	0.01%	0.01%
	CPRT	D	0.03%	0.2%	0.03%
	CRM	D	0.41%	0.34%	0.34%
	CSCO	B	0.67%	0.42%	0.42%
	CSL	C	0.05%	0.02%	0.02%
	CSX	D	0.22%	0.08%	0.08%
	CTAS	B	0.06%	0.17%	0.06%
	CTRA	F	0.12%	0.03%	0.03%
	CTVA	B	0.14%	0.04%	0.04%
	CVI	F	0.03%	0.01%	0.01%
	CVS	F	1.05%	0.78%	0.78%
	CVX	F	1.59%	0.82%	0.82%
	DAN	F	0.02%	0.02%	0.02%
	DASH	B	0.05%	0.09%	0.05%
	DD	C	0.15%	0.22%	0.15%
	DECK	C	0.03%	0.18%	0.03%
	DELL	F	0.2%	0.05%	0.05%
	DG	F	0.08%	0.05%	0.05%
	DGX	B	0.07%	0.06%	0.06%
	DHR	B	0.25%	0.26%	0.25%
	DINO	F	0.11%	0.03%	0.03%
	DK	F	0.03%	0.03%	0.03%
	DKS	C	0.07%	0.1%	0.07%
	DLTR	F	0.08%	0.03%	0.03%
	DOV	C	0.05%	0.02%	0.02%
	DOW	D	0.23%	0.04%	0.04%
	DOX	C	0.04%	0.03%	0.03%
	DRI	A	0.06%	0.02%	0.02%
	DVA	B	0.05%	0.17%	0.05%
	DXC	A	0.08%	0.02%	0.02%
	EA	C	0.1%	0.09%	0.09%
	EBAY	A	0.12%	0.32%	0.12%
	ECL	B	0.08%	0.08%	0.08%
	EFX	B	0.05%	0.09%	0.05%
	ELAN	B	0.03%	0.01%	0.01%
	ELV	B	0.56%	0.08%	0.08%
	EME	C	0.04%	0.03%	0.03%
	EMN	C	0.06%	0.06%	0.06%
	EMR	D	0.13%	0.15%	0.13%
	EOG	D	0.34%	0.11%	0.11%
	EQIX	B	0.09%	0.03%	0.03%
	ETN	D	0.14%	0.19%	0.14%
	EXC	A	0.18%	0.11%	0.11%
	EXPD	D	0.08%	0.07%	0.07%
	F	D	0.59%	0.34%	0.34%
	FAF	A	0.04%	0.02%	0.02%
	FANG	D	0.17%	0.05%	0.05%
	FAST	D	0.06%	0.1%	0.06%
	FCX	D	0.13%	0.1%	0.1%
	FFIV	B	0.03%	0.04%	0.03%
	FLEX	C	0.1%	0.06%	0.06%
	FLR	C	0.04%	0.01%	0.01%
	FOXA	B	0.14%	0.08%	0.08%
	FTI	D	0.03%	0.11%	0.03%
	FTNT	B	0.06%	0.06%	0.06%
	FYBR	A	0.03%	0.01%	0.01%
	GD	B	0.2%	0.16%	0.16%
	GDDY	C	0.05%	0.1%	0.05%
	GE	C	0.41%	1.11%	0.41%
	GEHC	B	0.07%	0.02%	0.02%
	GILD	A	0.35%	0.73%	0.35%
	GIS	A	0.15%	0.1%	0.1%
	GLW	C	0.12%	0.19%	0.12%
	GM	B	0.9%	0.6%	0.6%
	GOOGL	D	3.5%	1.24%	1.24%
	GPC	D	0.07%	0.02%	0.02%
	GPI	B	0.05%	0.09%	0.05%
	GPK	B	0.04%	0.1%	0.04%
	GT	F	0.04%	0.04%	0.04%
	GWW	C	0.07%	0.17%	0.07%
	H	C	0.04%	0.01%	0.01%
	HAL	F	0.1%	0.04%	0.04%
	HCA	B	0.27%	0.13%	0.13%
	HD	B	0.85%	0.38%	0.38%
	HIG	B	0.18%	0.05%	0.05%
	HII	B	0.05%	0.02%	0.02%
	HLT	C	0.09%	0.08%	0.08%
	HOG	B	0.03%	0.02%	0.02%
	HOLX	A	0.05%	0.03%	0.03%
	HP	F	0.02%	0.03%	0.02%
	HPE	D	0.19%	0.24%	0.19%
	HPQ	D	0.18%	0.28%	0.18%
	HRB	B	0.03%	0.09%	0.03%
	HRL	A	0.06%	0.01%	0.01%
	HSIC	C	0.04%	0.03%	0.03%
	HST	D	0.04%	0.02%	0.02%
	HSY	A	0.07%	0.05%	0.05%
	HUBB	C	0.03%	0.09%	0.03%
	HUN	D	0.03%	0.01%	0.01%
	HWM	B	0.04%	0.12%	0.04%
	IBM	A	0.52%	1.26%	0.52%
	IFF	A	0.09%	0.03%	0.03%
	INGR	A	0.04%	0.06%	0.04%
	INTC	F	0.4%	0.41%	0.4%
	INTU	D	0.19%	0.25%	0.19%
	IP	B	0.12%	0.12%	0.12%
	IPG	B	0.05%	0.07%	0.05%
	IR	D	0.05%	0.09%	0.05%
	IRM	B	0.06%	0.11%	0.06%
	IT	B	0.04%	0.15%	0.04%
	ITW	C	0.14%	0.08%	0.08%
	JAZZ	D	0.03%	0.01%	0.01%
	JBHT	C	0.05%	0.02%	0.02%
	JBL	F	0.09%	0.07%	0.07%
	JHG	B	0.03%	0.03%	0.03%
	JLL	B	0.07%	0.05%	0.05%
	JNJ	B	1.0%	0.98%	0.98%
	JNPR	A	0.05%	0.12%	0.05%
	K	A	0.08%	0.1%	0.08%
	KBH	B	0.04%	0.04%	0.04%
	KD	D	0.03%	0.06%	0.03%
	KDP	A	0.13%	0.06%	0.06%
	KHC	A	0.26%	0.15%	0.15%
	KLAC	D	0.13%	0.26%	0.13%
	KMB	A	0.11%	0.16%	0.11%
	KMI	B	0.23%	0.08%	0.08%
	KNX	D	0.05%	0.01%	0.01%
	KO	B	0.51%	0.58%	0.51%
	KR	C	0.34%	0.34%	0.34%
	KSS	F	0.04%	0.05%	0.04%
	LAD	C	0.07%	0.01%	0.01%
	LBRDK	C	0.04%	0.02%	0.02%
	LDOS	B	0.06%	0.08%	0.06%
	LEA	F	0.06%	0.03%	0.03%
	LEN	B	0.22%	0.08%	0.08%
	LHX	C	0.15%	0.19%	0.15%
	LLY	B	0.29%	2.56%	0.29%
	LMT	A	0.51%	0.5%	0.5%
	LOW	B	0.45%	0.23%	0.23%
	LPLA	D	0.05%	0.07%	0.05%
	LRCX	F	0.16%	0.3%	0.16%
	LUMN	B	0.3%	0.08%	0.08%
	LVS	D	0.05%	0.01%	0.01%
	LYB	D	0.16%	0.22%	0.16%
	M	F	0.06%	0.05%	0.05%
	MA	B	0.43%	0.76%	0.43%
	MAN	D	0.05%	0.04%	0.04%
	MAR	D	0.14%	0.11%	0.11%
	MAS	B	0.04%	0.06%	0.04%
	MCD	A	0.29%	0.38%	0.29%
	MCK	D	0.58%	0.54%	0.54%
	MCO	B	0.07%	0.03%	0.03%
	MDLZ	A	0.25%	0.2%	0.2%
	META	C	2.09%	2.02%	2.02%
	MHK	B	0.06%	0.01%	0.01%
	MKC	A	0.05%	0.07%	0.05%
	MKL	C	0.1%	0.03%	0.03%
	MLM	D	0.05%	0.06%	0.05%
	MMC	A	0.18%	0.18%	0.18%
	MMM	B	0.29%	0.41%	0.29%
	MNST	D	0.04%	0.05%	0.04%
	MO	A	0.34%	0.5%	0.34%
	MOH	C	0.08%	0.03%	0.03%
	MOS	F	0.11%	0.04%	0.04%
	MPC	D	0.74%	0.68%	0.68%
	MRK	D	0.5%	0.86%	0.5%
	MRO	C	0.14%	0.11%	0.11%
	MSCI	B	0.04%	0.07%	0.04%
	MSI	B	0.08%	0.15%	0.08%
	MTD	C	0.04%	0.08%	0.04%
	MTDR	F	0.03%	0.01%	0.01%
	MTH	B	0.03%	0.08%	0.03%
	MTN	C	0.03%	0.05%	0.03%
	MU	F	0.17%	0.16%	0.16%
	MUR	F	0.04%	0.05%	0.04%
	MUSA	B	0.06%	0.16%	0.06%
	NDAQ	A	0.05%	0.02%	0.02%
	NEM	B	0.17%	0.1%	0.1%
	NFG	B	0.03%	0.04%	0.03%
	NFLX	B	0.28%	0.44%	0.28%
	NKE	C	0.3%	0.04%	0.04%
	NOC	B	0.22%	0.22%	0.22%
	NOV	F	0.03%	0.05%	0.03%
	NOW	B	0.09%	0.35%	0.09%
	NRG	C	0.06%	0.07%	0.06%
	NSIT	C	0.03%	0.06%	0.03%
	NTAP	D	0.06%	0.08%	0.06%
	NUE	F	0.22%	0.08%	0.08%
	NVDA	D	0.82%	1.71%	0.82%
	NVR	B	0.08%	0.07%	0.07%
	NWL	A	0.03%	0.02%	0.02%
	NWSA	C	0.06%	0.07%	0.06%
	NXST	D	0.04%	0.05%	0.04%
	OC	D	0.06%	0.07%	0.06%
	ODFL	D	0.05%	0.01%	0.01%
	ODP	F	0.02%	0.02%	0.02%
	OKE	A	0.15%	0.08%	0.08%
	OLN	F	0.04%	0.04%	0.04%
	OMC	B	0.07%	0.06%	0.06%
	OMF	D	0.06%	0.04%	0.04%
	ORCL	A	0.27%	0.99%	0.27%
	ORLY	B	0.13%	0.18%	0.13%
	OSK	D	0.03%	0.07%	0.03%
	OTIS	D	0.05%	0.07%	0.05%
	PANW	B	0.06%	0.26%	0.06%
	PARA	F	0.11%	0.02%	0.02%
	PAYX	B	0.06%	0.03%	0.03%
	PBF	F	0.07%	0.06%	0.06%
	PCAR	D	0.15%	0.08%	0.08%
	PEP	A	0.46%	0.58%	0.46%
	PFE	D	0.73%	0.5%	0.5%
	PG	A	0.78%	0.82%	0.78%
	PGR	A	0.31%	0.49%	0.31%
	PH	B	0.13%	0.13%	0.13%
	PHM	B	0.1%	0.16%	0.1%
	PINS	F	0.02%	0.04%	0.02%
	PKG	B	0.06%	0.05%	0.05%
	PM	A	0.36%	0.53%	0.36%
	POOL	C	0.03%	0.06%	0.03%
	POST	B	0.04%	0.05%	0.04%
	PPG	D	0.08%	0.04%	0.04%
	PR	D	0.03%	0.04%	0.03%
	PSA	A	0.14%	0.03%	0.03%
	PSX	D	0.51%	0.58%	0.51%
	PVH	F	0.04%	0.04%	0.04%
	PWR	C	0.07%	0.14%	0.07%
	QCOM	F	0.34%	0.66%	0.34%
	QRVO	D	0.04%	0.01%	0.01%
	R	C	0.07%	0.06%	0.06%
	RCL	C	0.08%	0.08%	0.08%
	REGN	B	0.24%	0.45%	0.24%
	RGA	B	0.11%	0.05%	0.05%
	RHI	D	0.03%	0.02%	0.02%
	RL	A	0.04%	0.03%	0.03%
	RMD	A	0.04%	0.12%	0.04%
	ROP	C	0.08%	0.06%	0.06%
	ROST	B	0.11%	0.07%	0.07%
	RPM	A	0.03%	0.11%	0.03%
	RRC	F	0.03%	0.04%	0.03%
	RS	D	0.08%	0.08%	0.08%
	RSG	B	0.08%	0.12%	0.08%
	SAIC	B	0.03%	0.01%	0.01%
	SATS	A	0.05%	0.01%	0.01%
	SBAC	A	0.04%	0.02%	0.02%
	SBUX	B	0.21%	0.06%	0.06%
	SCI	B	0.04%	0.06%	0.04%
	SHW	B	0.14%	0.2%	0.14%
	SIG	F	0.02%	0.05%	0.02%
	SJM	A	0.07%	0.03%	0.03%
	SKX	B	0.04%	0.02%	0.02%
	SLB	F	0.18%	0.09%	0.09%
	SM	D	0.03%	0.03%	0.03%
	SON	A	0.03%	0.04%	0.03%
	STE	A	0.04%	0.12%	0.04%
	STLD	D	0.11%	0.04%	0.04%
	STZ	B	0.1%	0.04%	0.04%
	SWN	F	0.05%	0.01%	0.01%
	SYY	A	0.19%	0.07%	0.07%
	T	A	1.22%	1.09%	1.09%
	TAP	C	0.08%	0.08%	0.08%
	TDG	B	0.05%	0.16%	0.05%
	TDS	B	0.04%	0.03%	0.03%
	TER	D	0.03%	0.04%	0.03%
	TGNA	D	0.03%	0.03%	0.03%
	TGT	B	0.32%	0.68%	0.32%
	THC	B	0.08%	0.28%	0.08%
	THO	C	0.04%	0.07%	0.04%
	TJX	B	0.28%	0.33%	0.28%
	TMHC	B	0.05%	0.08%	0.05%
	TMUS	B	0.34%	0.31%	0.31%
	TNET	F	0.03%	0.01%	0.01%
	TOL	B	0.07%	0.1%	0.07%
	TPR	B	0.05%	0.01%	0.01%
	TRGP	A	0.11%	0.13%	0.11%
	TROW	D	0.07%	0.08%	0.07%
	TRV	A	0.26%	0.29%	0.26%
	TSCO	B	0.06%	0.06%	0.06%
	TSN	A	0.19%	0.22%	0.19%
	TTWO	B	0.04%	0.07%	0.04%
	TW	B	0.03%	0.05%	0.03%
	TXN	C	0.29%	0.21%	0.21%
	TXT	D	0.08%	0.03%	0.03%
	UAL	C	0.04%	0.01%	0.01%
	UBER	B	0.12%	0.22%	0.12%
	UFPI	D	0.03%	0.07%	0.03%
	UHS	B	0.08%	0.1%	0.08%
	ULTA	D	0.05%	0.04%	0.04%
	UNP	B	0.29%	0.47%	0.29%
	UPS	F	0.43%	0.18%	0.18%
	URI	C	0.13%	0.09%	0.09%
	USFD	B	0.09%	0.09%	0.09%
	UTHR	B	0.04%	0.17%	0.04%
	V	A	0.69%	0.8%	0.69%
	VFC	B	0.05%	0.02%	0.02%
	VLO	D	0.5%	0.57%	0.5%
	VMC	D	0.05%	0.06%	0.05%
	VRSK	C	0.08%	0.2%	0.08%
	VRSN	C	0.03%	0.04%	0.03%
	VRTX	D	0.12%	0.22%	0.12%
	VST	C	0.1%	0.28%	0.1%
	VTRS	C	0.14%	0.14%	0.14%
	VVV	D	0.03%	0.03%	0.03%
	VZ	B	1.16%	0.93%	0.93%
	WAB	B	0.07%	0.04%	0.04%
	WBA	F	0.14%	0.14%	0.14%
	WCC	D	0.05%	0.08%	0.05%
	WDC	D	0.04%	0.15%	0.04%
	WHR	D	0.06%	0.04%	0.04%
	WM	D	0.16%	0.23%	0.16%
	WMT	A	1.19%	1.78%	1.19%
	WRB	B	0.08%	0.02%	0.02%
	WSM	D	0.04%	0.21%	0.04%
	WSO	D	0.03%	0.2%	0.03%
	WST	D	0.03%	0.04%	0.03%
	WTW	A	0.1%	0.05%	0.05%
	WU	C	0.03%	0.08%	0.03%
	X	F	0.1%	0.07%	0.07%
	XOM	C	2.43%	1.02%	1.02%
	XRX	D	0.03%	0.02%	0.02%
	XYL	D	0.04%	0.11%	0.04%
	YUM	B	0.03%	0.1%	0.03%
	ZTS	A	0.1%	0.04%	0.04%

IUS Overweight 128 Positions Relative to MFUS

	Symbol	Grade	Weight
	MSFT	D	2.77%
	UNH	A	1.6%
	RTX	B	0.7%
	DIS	F	0.46%
	TSLA	D	0.45%
	CNC	D	0.44%
	LIN	B	0.43%
	FDX	D	0.39%
	TMO	A	0.38%
	ABT	A	0.38%
	DE	B	0.37%
	MDT	A	0.36%
	HUM	D	0.32%
	OXY	F	0.32%
	HON	D	0.3%
	PYPL	B	0.29%
	WBD	D	0.23%
	LNG	B	0.22%
	AMD	F	0.22%
	DHI	B	0.2%
	XEL	A	0.16%
	NSC	B	0.16%
	JCI	C	0.15%
	ED	A	0.15%
	BG	D	0.15%
	BA	F	0.14%
	CTSH	B	0.14%
	SYK	A	0.14%
	DVN	F	0.14%
	CBRE	B	0.13%
	ACGL	B	0.13%
	TEL	C	0.13%
	APD	B	0.13%
	ISRG	B	0.12%
	SNX	D	0.12%
	MELI	B	0.11%
	PFGC	B	0.11%
	TT	B	0.11%
	ABNB	F	0.11%
	EXPE	C	0.11%
	SNEX	C	0.1%
	EG	B	0.1%
	DTE	B	0.1%
	CNP	D	0.09%
	SWK	B	0.09%
	OVV	F	0.09%
	IQV	B	0.09%
	MCHP	D	0.09%
	PPL	A	0.09%
	CF	B	0.09%
	FE	A	0.09%
	TX	F	0.08%
	MGM	F	0.08%
	SW	D	0.08%
	UNFI	A	0.08%
	SQ	D	0.08%
	MRVL	D	0.08%
	HES	F	0.08%
	AMCR	B	0.08%
	KMX	C	0.08%
	CMS	A	0.07%
	ORI	B	0.07%
	J	C	0.07%
	WCN	B	0.07%
	ON	D	0.07%
	CHK	F	0.07%
	APA	F	0.07%
	ZBH	D	0.07%
	EQT	D	0.07%
	APTV	D	0.07%
	AME	D	0.06%
	FTV	D	0.06%
	EL	F	0.06%
	RNR	A	0.06%
	WDAY	C	0.06%
	LKQ	D	0.06%
	ZIM	D	0.06%
	CLF	F	0.06%
	CAR	F	0.06%
	WY	C	0.06%
	SNPS	D	0.06%
	SWKS	D	0.06%
	SNA	D	0.05%
	CIVI	F	0.05%
	UGI	C	0.05%
	EW	F	0.05%
	GRMN	B	0.05%
	ZM	B	0.05%
	KEYS	C	0.05%
	CZR	D	0.05%
	ARMK	A	0.05%
	SSNC	B	0.05%
	ROK	D	0.05%
	ILMN	B	0.04%
	CBOE	A	0.04%
	ALV	D	0.04%
	NU	B	0.04%
	STX	D	0.04%
	PENN	F	0.04%
	DAL	D	0.04%
	NCLH	D	0.04%
	RRX	D	0.04%
	LULU	F	0.04%
	TPG	B	0.04%
	MRNA	F	0.04%
	TDY	B	0.04%
	ALB	F	0.04%
	TWLO	D	0.04%
	CDNS	D	0.04%
	CSGP	C	0.03%
	IAC	C	0.03%
	PRGO	C	0.03%
	GXO	D	0.03%
	SNOW	F	0.03%
	LUV	A	0.03%
	RH	F	0.03%
	OGS	B	0.03%
	WSC	D	0.03%
	HAS	B	0.03%
	DAR	D	0.03%
	LYV	D	0.03%
	FSLR	C	0.03%
	HTZ	F	0.03%
	PII	D	0.03%
	DXCM	F	0.02%
	ATKR	F	0.02%
	AAL	C	0.02%
	AMR	F	0.02%

IUS Underweight 368 Positions Relative to MFUS

	Symbol	Grade	Weight
	WFC	D	-1.47%
	C	D	-1.28%
	JPM	B	-0.96%
	GS	C	-0.48%
	AIG	D	-0.43%
	COF	C	-0.43%
	BAC	D	-0.39%
	MET	B	-0.36%
	SYF	C	-0.31%
	ANF	D	-0.29%
	ICE	A	-0.28%
	BK	B	-0.26%
	PRU	C	-0.25%
	LII	C	-0.23%
	FICO	A	-0.21%
	AFL	B	-0.19%
	SFM	B	-0.19%
	CME	A	-0.19%
	DPZ	D	-0.17%
	SCHW	D	-0.16%
	SMCI	F	-0.15%
	SPG	B	-0.14%
	DUK	A	-0.13%
	KKR	B	-0.13%
	ALLY	C	-0.13%
	EVR	B	-0.12%
	WELL	A	-0.11%
	APO	D	-0.11%
	CRS	B	-0.11%
	USB	B	-0.11%
	JXN	C	-0.1%
	JKHY	B	-0.1%
	PNC	B	-0.1%
	UNM	B	-0.1%
	AJG	A	-0.09%
	CW	B	-0.09%
	MPWR	C	-0.09%
	AEO	D	-0.09%
	TFC	B	-0.09%
	ARES	C	-0.09%
	HLI	B	-0.08%
	TTC	D	-0.08%
	WMB	B	-0.08%
	DFS	C	-0.08%
	DLR	D	-0.08%
	EHC	B	-0.08%
	AMP	B	-0.08%
	ALSN	B	-0.08%
	LSTR	D	-0.08%
	OGN	C	-0.08%
	ITT	C	-0.08%
	LECO	F	-0.08%
	ERIE	A	-0.08%
	L	B	-0.08%
	PNR	B	-0.08%
	IEX	D	-0.08%
	BWXT	C	-0.08%
	GNTX	D	-0.07%
	CFG	B	-0.07%
	HCC	F	-0.07%
	TEX	D	-0.07%
	MLI	B	-0.07%
	SLG	B	-0.07%
	CALM	B	-0.07%
	SEIC	D	-0.07%
	GLPI	A	-0.07%
	FCN	C	-0.07%
	ATR	A	-0.07%
	COIN	F	-0.07%
	EXR	B	-0.07%
	EQH	C	-0.07%
	AYI	C	-0.07%
	TYL	A	-0.07%
	FIS	A	-0.07%
	KTB	B	-0.06%
	FIX	C	-0.06%
	VNO	B	-0.06%
	TPH	B	-0.06%
	CPT	B	-0.06%
	IVZ	C	-0.06%
	CRI	C	-0.06%
	CHE	C	-0.06%
	MMS	C	-0.06%
	MSM	D	-0.06%
	TPX	D	-0.06%
	SPGI	A	-0.06%
	INVH	B	-0.06%
	PK	D	-0.06%
	FL	D	-0.06%
	SLM	D	-0.06%
	SEE	D	-0.06%
	LPX	B	-0.06%
	VIRT	A	-0.05%
	WEN	C	-0.05%
	GNRC	C	-0.05%
	COOP	B	-0.05%
	CBT	B	-0.05%
	SKYW	D	-0.05%
	WAT	B	-0.05%
	LAMR	B	-0.05%
	ATGE	C	-0.05%
	WPC	A	-0.05%
	ATI	C	-0.05%
	TKR	D	-0.05%
	LOPE	D	-0.05%
	PAG	C	-0.05%
	NYT	C	-0.05%
	FDS	C	-0.05%
	SUI	A	-0.05%
	CRUS	C	-0.05%
	TXRH	D	-0.05%
	PTC	D	-0.05%
	LNC	C	-0.05%
	G	B	-0.05%
	IBKR	B	-0.05%
	PEG	B	-0.05%
	SANM	D	-0.05%
	URBN	D	-0.05%
	FITB	B	-0.05%
	FCNCA	C	-0.05%
	EXP	B	-0.05%
	IDXX	D	-0.05%
	MHO	B	-0.05%
	FHI	B	-0.04%
	APG	D	-0.04%
	APLE	F	-0.04%
	GEO	D	-0.04%
	COLD	B	-0.04%
	OI	C	-0.04%
	XPO	D	-0.04%
	PSTG	F	-0.04%
	VSH	F	-0.04%
	ELS	A	-0.04%
	AROC	D	-0.04%
	AMH	A	-0.04%
	XRAY	D	-0.04%
	WTM	B	-0.04%
	HEI	B	-0.04%
	HUBG	B	-0.04%
	SEB	C	-0.04%
	AGNC	A	-0.04%
	RGLD	C	-0.04%
	FLO	A	-0.04%
	GATX	C	-0.04%
	GVA	B	-0.04%
	VC	F	-0.04%
	SRCL	A	-0.04%
	CNO	B	-0.04%
	GNW	B	-0.04%
	CRBG	C	-0.04%
	NBIX	D	-0.04%
	MTG	B	-0.04%
	THG	A	-0.04%
	LANC	D	-0.04%
	ENTG	D	-0.04%
	DCI	C	-0.04%
	GGG	D	-0.04%
	HXL	F	-0.04%
	MOG.A	C	-0.04%
	CUBE	A	-0.04%
	NDSN	C	-0.04%
	ABM	C	-0.04%
	CLH	C	-0.04%
	BDC	B	-0.04%
	ROL	B	-0.04%
	SMG	C	-0.04%
	MAC	B	-0.04%
	SLGN	B	-0.04%
	FNF	B	-0.03%
	HOOD	D	-0.03%
	NVT	F	-0.03%
	COKE	B	-0.03%
	FR	B	-0.03%
	SSD	D	-0.03%
	MATX	C	-0.03%
	RLI	B	-0.03%
	HBAN	B	-0.03%
	ZION	C	-0.03%
	OKTA	F	-0.03%
	UDR	B	-0.03%
	PRG	B	-0.03%
	MC	B	-0.03%
	AWI	C	-0.03%
	BRKR	C	-0.03%
	MDU	D	-0.03%
	BKU	B	-0.03%
	YELP	F	-0.03%
	GBX	D	-0.03%
	MTB	B	-0.03%
	WH	A	-0.03%
	BFAM	B	-0.03%
	DBRG	F	-0.03%
	SHOO	C	-0.03%
	TFX	A	-0.03%
	MORN	C	-0.03%
	NAVI	C	-0.03%
	WTS	D	-0.03%
	AVA	B	-0.03%
	DLB	F	-0.03%
	RPRX	B	-0.03%
	PRIM	C	-0.03%
	LSXMK	C	-0.03%
	MANH	B	-0.03%
	HBI	B	-0.03%
	SAIA	D	-0.03%
	RUSHA	C	-0.03%
	TRN	C	-0.03%
	SBH	B	-0.03%
	PDCO	F	-0.03%
	SEM	D	-0.03%
	BLD	D	-0.03%
	SLVM	B	-0.03%
	FND	C	-0.03%
	JEF	B	-0.03%
	MSA	D	-0.03%
	DDS	D	-0.03%
	UHAL	B	-0.03%
	CMA	B	-0.03%
	JWN	A	-0.03%
	CVLT	B	-0.03%
	LW	D	-0.03%
	ACA	D	-0.03%
	BHF	D	-0.03%
	GMS	D	-0.03%
	DNOW	D	-0.02%
	PTEN	F	-0.02%
	GWRE	A	-0.02%
	BXP	A	-0.02%
	LEG	D	-0.02%
	SNDR	B	-0.02%
	CHDN	D	-0.02%
	APOG	C	-0.02%
	LXP	B	-0.02%
	DORM	B	-0.02%
	HNI	B	-0.02%
	EWBC	C	-0.02%
	SAM	D	-0.02%
	OSIS	C	-0.02%
	IGT	C	-0.02%
	SNAP	F	-0.02%
	GES	F	-0.02%
	BMRN	D	-0.02%
	AIT	C	-0.02%
	PMT	C	-0.02%
	MKTX	A	-0.02%
	BBWI	F	-0.02%
	MCY	B	-0.02%
	XHR	D	-0.02%
	PSN	B	-0.02%
	CC	F	-0.02%
	SXT	C	-0.02%
	VSTO	C	-0.02%
	GHC	C	-0.02%
	NTCT	C	-0.02%
	PFSI	A	-0.02%
	NSP	F	-0.02%
	HAE	F	-0.02%
	CTLT	A	-0.02%
	EPC	C	-0.02%
	AIR	D	-0.02%
	RLJ	F	-0.02%
	GEF	D	-0.02%
	REZI	D	-0.02%
	GMED	C	-0.02%
	LNW	B	-0.02%
	CG	D	-0.02%
	PNM	A	-0.02%
	ORA	C	-0.02%
	KMPR	C	-0.02%
	KBR	C	-0.02%
	EXEL	B	-0.02%
	FLS	C	-0.02%
	WMS	D	-0.02%
	CXW	D	-0.02%
	KEY	B	-0.02%
	TDC	F	-0.02%
	APAM	D	-0.02%
	WERN	D	-0.02%
	PINC	A	-0.02%
	PLXS	B	-0.02%
	BKE	B	-0.02%
	MASI	D	-0.02%
	AXTA	C	-0.02%
	LZB	C	-0.02%
	NTRS	B	-0.02%
	DRH	D	-0.02%
	RYN	B	-0.02%
	THS	A	-0.02%
	STC	B	-0.02%
	UNF	C	-0.02%
	SHO	D	-0.02%
	NEU	D	-0.02%
	VNT	F	-0.02%
	SCHL	D	-0.01%
	UHAL	B	-0.01%
	SCL	D	-0.01%
	LYFT	F	-0.01%
	HELE	D	-0.01%
	CACC	F	-0.01%
	SCCO	D	-0.01%
	KALU	F	-0.01%
	UVV	B	-0.01%
	ECPG	C	-0.01%
	WGO	D	-0.01%
	ESI	D	-0.01%
	SWX	D	-0.01%
	MKSI	F	-0.01%
	WOR	F	-0.01%
	SIGI	D	-0.01%
	JELD	F	-0.01%
	PFG	D	-0.01%
	MLKN	D	-0.01%
	JBGS	B	-0.01%
	HPP	D	-0.01%
	AMED	B	-0.01%
	DY	D	-0.01%
	INCY	C	-0.01%
	WMK	B	-0.01%
	ESAB	D	-0.01%
	PECO	A	-0.01%
	WAFD	B	-0.01%
	BRC	B	-0.01%
	ARCB	F	-0.01%
	CENTA	D	-0.01%
	DTM	B	-0.01%
	SYNA	F	-0.01%
	SPB	B	-0.01%
	FHN	C	-0.01%
	WTFC	B	-0.01%
	FELE	D	-0.01%
	CADE	C	-0.01%
	CBSH	B	-0.01%
	STRA	D	-0.01%
	CSGS	C	-0.01%
	ONB	C	-0.01%
	KN	D	-0.01%
	SF	C	-0.01%
	CR	C	-0.01%
	TREX	F	-0.01%
	CBRL	F	-0.01%
	DEI	B	-0.01%
	TTMI	D	-0.01%
	WWD	D	-0.01%
	WBS	D	-0.01%
	OLLI	D	-0.01%
	AMWD	D	-0.01%
	LAUR	C	-0.01%
	NNI	B	-0.01%
	RBC	C	-0.01%
	LADR	B	-0.01%
	OMI	C	-0.01%
	GOLF	C	-0.01%
	IOSP	D	-0.01%
	KEX	D	-0.01%
	PSMT	B	-0.01%
	CWEN	B	-0.01%
	ESNT	B	-0.01%
	RJF	D	-0.01%
	BHE	C	-0.01%
	SNV	C	-0.01%
	SAH	C	-0.01%
	EVRG	A	-0.01%
	WAL	B	-0.01%
	PHIN	B	-0.01%
	SCS	C	-0.01%
	TTEK	B	-0.01%
	NOMD	A	-0.0%
	WOLF	F	-0.0%

IUS: Top Represented Industries & Keywords

Industries: Oil & Gas E&P Software - Application Specialty Retail Diversified Industrials Information Technology Services Semiconductors Business Services Packaged Foods Specialty Chemicals Drug Manufacturers - Major Packaging & Containers Aerospace & Defense Diagnostics & Research Insurance - Property & Casualty Oil & Gas Refining & Marketing Residential Construction Telecom Services Auto Parts Health Care Plans Household & Personal Products

Keywords: S&P 500 Nasdaq 100 Natural Gas Computing Electronics Dow Jones Component Insurance Mining Aerospace Chemical Telecommunications Semiconductor Transport Medicine Petroleum Industry Retailing Electricity Building Materials Beverage Plastic

MFUS: Top Represented Industries & Keywords

Industries: Diversified Industrials Asset Management Banks - Regional - US Software - Application Business Services Packaged Foods Specialty Chemicals Specialty Retail Building Materials Capital Markets Insurance - Property & Casualty Oil & Gas E&P Aerospace & Defense Credit Services Packaging & Containers Engineering & Construction Information Technology Services Semiconductors Medical Instruments & Supplies REIT - Diversified

Keywords: S&P 500 Nasdaq 100 Insurance Chemical Aerospace Computing Mining Natural Gas Electronics Bank Banking Real Estate Investment Trust Telecommunications Transport Building Materials Construction Retailing Beverage Dow Jones Component Plastic