IWD vs. HLAL ETF Comparison

Comparison of iShares Russell 1000 Value ETF (IWD) to Wahed FTSE USA Shariah ETF (HLAL)

IWD

iShares Russell 1000 Value ETF

IWD Description

The investment seeks to track the investment results of an index composed of large- and mid-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. It seeks to track the investment results of the Russell 1000 Value Index (the "underlying index"), which measures the performance of large- and mid-capitalization value sectors of the U.S. equity market. It is a subset of the Russell 1000® Index, which measures the performance of the large-capitalization sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$197.71

Average Daily Volume

1,616,962

Number of Holdings ^*

865

* may have additional holdings in another (foreign) market

HLAL

Wahed FTSE USA Shariah ETF

HLAL Description

The investment seeks to track the total return performance, before fees and expenses, of the FTSE USA Shariah Index. The index is composed of common stocks of large and mid-capitalization U.S. companies the characteristics of which meet the requirements of the Shariah and are consistent with Islamic principles as interpreted by subject-matter experts. Under normal circumstances, at least 80% of its total assets will be invested in the component securities of the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$52.60

Average Daily Volume

60,755

Number of Holdings ^*

198

* may have additional holdings in another (foreign) market

Performance

Period	IWD	HLAL
30 Days	3.53%	2.35%
60 Days	4.90%	1.62%
90 Days	6.95%	3.31%
12 Months	29.54%	20.13%

166 Overlapping Holdings

	Symbol	Grade	Weight in IWD	Weight in HLAL	Overlap
	A	D	0.15%	0.17%	0.15%
	ABT	B	0.78%	0.9%	0.78%
	ADI	D	0.4%	0.47%	0.4%
	ADM	D	0.1%	0.11%	0.1%
	ADP	B	0.03%	0.55%	0.03%
	AGR	B	0.01%	0.01%	0.01%
	AKAM	D	0.05%	0.06%	0.05%
	ALB	C	0.05%	0.06%	0.05%
	ALGN	D	0.03%	0.08%	0.03%
	AMAT	F	0.04%	0.63%	0.04%
	AMD	F	0.29%	0.99%	0.29%
	ANSS	B	0.11%	0.13%	0.11%
	APD	A	0.27%	0.33%	0.27%
	APTV	D	0.06%	0.06%	0.06%
	ARE	D	0.07%	0.08%	0.07%
	ATO	A	0.08%	0.1%	0.08%
	BDX	F	0.25%	0.29%	0.25%
	BG	F	0.05%	0.06%	0.05%
	BIIB	F	0.09%	0.1%	0.09%
	BKR	B	0.17%	0.2%	0.17%
	BLDR	D	0.07%	0.09%	0.07%
	BMRN	D	0.05%	0.05%	0.05%
	BSX	B	0.5%	0.6%	0.5%
	CAH	B	0.05%	0.13%	0.05%
	CARR	D	0.24%	0.28%	0.24%
	CEG	D	0.23%	0.33%	0.23%
	CF	B	0.06%	0.07%	0.06%
	CHD	B	0.1%	0.12%	0.1%
	CMI	A	0.19%	0.22%	0.19%
	COP	C	0.51%	0.6%	0.51%
	CRL	C	0.04%	0.04%	0.04%
	CRM	B	0.18%	1.36%	0.18%
	CSCO	B	0.91%	1.04%	0.91%
	CTAS	B	0.01%	0.34%	0.01%
	CTVA	C	0.15%	0.18%	0.15%
	CVX	A	1.08%	1.24%	1.08%
	DAL	C	0.16%	0.05%	0.05%
	DD	D	0.13%	0.15%	0.13%
	DELL	C	0.12%	0.16%	0.12%
	DGX	A	0.07%	0.08%	0.07%
	DHI	D	0.19%	0.22%	0.19%
	DHR	F	0.58%	0.67%	0.58%
	DLTR	F	0.05%	0.06%	0.05%
	DOV	A	0.11%	0.12%	0.11%
	DOW	F	0.12%	0.12%	0.12%
	DVN	F	0.09%	0.11%	0.09%
	EA	A	0.17%	0.2%	0.17%
	EBAY	D	0.12%	0.14%	0.12%
	EL	F	0.04%	0.07%	0.04%
	EMR	A	0.28%	0.33%	0.28%
	EW	C	0.13%	0.19%	0.13%
	EXPD	D	0.06%	0.08%	0.06%
	FANG	D	0.13%	0.15%	0.13%
	FAST	B	0.03%	0.21%	0.03%
	FDX	B	0.26%	0.29%	0.26%
	FFIV	B	0.05%	0.06%	0.05%
	FSLR	F	0.08%	0.09%	0.08%
	FTV	C	0.1%	0.12%	0.1%
	GEHC	F	0.13%	0.17%	0.13%
	GEV	B	0.35%	0.41%	0.35%
	GFS	C	0.02%	0.02%	0.02%
	GLW	B	0.14%	0.16%	0.14%
	GPC	D	0.07%	0.08%	0.07%
	GRMN	B	0.13%	0.14%	0.13%
	GWW	B	0.03%	0.22%	0.03%
	HAL	C	0.1%	0.12%	0.1%
	HES	B	0.06%	0.19%	0.06%
	HOLX	D	0.07%	0.08%	0.07%
	HPQ	B	0.11%	0.16%	0.11%
	HUBB	B	0.09%	0.11%	0.09%
	IEX	B	0.07%	0.08%	0.07%
	IFF	D	0.09%	0.1%	0.09%
	ILMN	D	0.08%	0.09%	0.08%
	INTC	D	0.4%	0.46%	0.4%
	IP	B	0.08%	0.07%	0.07%
	IPG	D	0.04%	0.05%	0.04%
	IR	B	0.16%	0.19%	0.16%
	JBHT	C	0.06%	0.07%	0.06%
	JCI	C	0.22%	0.25%	0.22%
	JNJ	D	1.45%	1.65%	1.45%
	JNPR	F	0.05%	0.05%	0.05%
	KDP	D	0.14%	0.15%	0.14%
	KO	D	0.4%	1.1%	0.4%
	KVUE	A	0.18%	0.2%	0.18%
	LEN	D	0.16%	0.0%	0.0%
	LEN	D	0.01%	0.0%	0.0%
	LEN	D	0.16%	0.18%	0.16%
	LEN	D	0.01%	0.18%	0.01%
	LH	C	0.08%	0.09%	0.08%
	LIN	D	0.84%	0.97%	0.84%
	LKQ	D	0.04%	0.04%	0.04%
	LUV	C	0.08%	0.02%	0.02%
	LYB	F	0.08%	0.1%	0.08%
	MCK	B	0.17%	0.36%	0.17%
	MDLZ	F	0.34%	0.39%	0.34%
	MDT	D	0.44%	0.49%	0.44%
	MKC	D	0.07%	0.09%	0.07%
	MLM	B	0.13%	0.16%	0.13%
	MMM	D	0.23%	0.32%	0.23%
	MPC	D	0.22%	0.25%	0.22%
	MRO	B	0.06%	0.07%	0.06%
	MRVL	B	0.27%	0.35%	0.27%
	MU	D	0.41%	0.49%	0.41%
	NEM	D	0.18%	0.22%	0.18%
	NKE	D	0.14%	0.4%	0.14%
	NTAP	C	0.05%	0.11%	0.05%
	NUE	C	0.14%	0.16%	0.14%
	NWS	B	0.01%	0.02%	0.01%
	NWSA	B	0.04%	0.05%	0.04%
	OKTA	C	0.03%	0.05%	0.03%
	OMC	C	0.07%	0.09%	0.07%
	ON	D	0.11%	0.13%	0.11%
	OXY	D	0.13%	0.15%	0.13%
	PCAR	B	0.22%	0.25%	0.22%
	PFE	D	0.55%	0.63%	0.55%
	PG	A	1.21%	1.81%	1.21%
	PHM	D	0.1%	0.12%	0.1%
	PKG	A	0.08%	0.1%	0.08%
	PLD	D	0.41%	0.48%	0.41%
	PNR	A	0.07%	0.08%	0.07%
	PPG	F	0.11%	0.13%	0.11%
	PSX	C	0.21%	0.25%	0.21%
	PTC	A	0.03%	0.1%	0.03%
	PWR	A	0.13%	0.22%	0.13%
	QCOM	F	0.04%	0.77%	0.04%
	QRVO	F	0.02%	0.03%	0.02%
	REG	B	0.05%	0.06%	0.05%
	REGN	F	0.28%	0.35%	0.28%
	RMD	C	0.1%	0.16%	0.1%
	ROK	B	0.12%	0.14%	0.12%
	ROP	B	0.23%	0.26%	0.23%
	ROST	C	0.14%	0.21%	0.14%
	RVTY	F	0.05%	0.06%	0.05%
	SLB	C	0.24%	0.28%	0.24%
	SNA	A	0.07%	0.08%	0.07%
	STE	F	0.08%	0.09%	0.08%
	STLD	B	0.08%	0.1%	0.08%
	SWK	D	0.05%	0.06%	0.05%
	SYK	C	0.39%	0.63%	0.39%
	TECH	D	0.04%	0.05%	0.04%
	TER	D	0.01%	0.07%	0.01%
	TFX	F	0.04%	0.04%	0.04%
	TJX	A	0.22%	0.61%	0.22%
	TMO	F	0.76%	0.87%	0.76%
	TRMB	B	0.07%	0.08%	0.07%
	TT	A	0.24%	0.42%	0.24%
	TTWO	A	0.12%	0.14%	0.12%
	TXN	C	0.63%	0.81%	0.63%
	TYL	B	0.01%	0.11%	0.01%
	UAL	A	0.12%	0.03%	0.03%
	ULTA	F	0.01%	0.07%	0.01%
	UPS	C	0.38%	0.43%	0.38%
	VLO	C	0.17%	0.2%	0.17%
	VLTO	D	0.05%	0.12%	0.05%
	VMC	B	0.11%	0.16%	0.11%
	WAB	B	0.13%	0.15%	0.13%
	WBA	F	0.02%	0.03%	0.02%
	WDC	D	0.08%	0.09%	0.08%
	WELL	A	0.32%	0.37%	0.32%
	WLK	D	0.02%	0.02%	0.02%
	WST	C	0.04%	0.1%	0.04%
	WY	D	0.09%	0.1%	0.09%
	XOM	B	2.08%	2.42%	2.08%
	XYL	D	0.11%	0.13%	0.11%
	ZBH	C	0.09%	0.1%	0.09%
	ZBRA	B	0.06%	0.09%	0.06%

IWD Overweight 701 Positions Relative to HLAL

	Symbol	Grade	Weight
	BRK.A	B	3.35%
	JPM	A	2.74%
	UNH	C	1.98%
	WMT	A	1.42%
	BAC	A	1.23%
	WFC	A	1.01%
	ACN	C	0.86%
	DIS	B	0.82%
	PM	B	0.78%
	MCD	D	0.77%
	IBM	C	0.73%
	VZ	C	0.68%
	ABBV	D	0.65%
	CMCSA	B	0.64%
	CAT	B	0.63%
	T	A	0.63%
	NEE	D	0.61%
	SPGI	C	0.61%
	RTX	C	0.61%
	LOW	D	0.6%
	BLK	C	0.6%
	GE	D	0.59%
	MS	A	0.57%
	ETN	A	0.56%
	GS	A	0.53%
	C	A	0.51%
	HON	B	0.49%
	CB	C	0.45%
	TMUS	B	0.44%
	BMY	B	0.44%
	GILD	C	0.43%
	SCHW	B	0.42%
	DE	A	0.39%
	AXP	A	0.39%
	MMC	B	0.37%
	MO	A	0.37%
	SO	D	0.37%
	PH	A	0.35%
	DUK	C	0.34%
	PYPL	B	0.34%
	ICE	C	0.34%
	CME	A	0.32%
	CI	F	0.32%
	HD	A	0.32%
	FI	A	0.32%
	PNC	B	0.32%
	GD	F	0.31%
	EQIX	A	0.31%
	BA	F	0.31%
	EOG	A	0.3%
	LMT	D	0.3%
	USB	A	0.3%
	ELV	F	0.3%
	AON	A	0.29%
	UNP	C	0.29%
	KKR	A	0.28%
	NOC	D	0.27%
	CSX	B	0.27%
	WMB	A	0.27%
	COF	B	0.27%
	TGT	F	0.27%
	CVS	D	0.26%
	CRH	A	0.26%
	GM	B	0.25%
	MAR	B	0.25%
	OKE	A	0.25%
	FCX	D	0.24%
	TFC	A	0.24%
	AFL	B	0.24%
	DLR	B	0.23%
	SRE	A	0.23%
	NSC	B	0.23%
	AJG	B	0.23%
	TRV	B	0.23%
	VRTX	F	0.23%
	BK	A	0.22%
	KMI	A	0.21%
	TDG	D	0.21%
	ITW	B	0.2%
	AEP	D	0.2%
	D	C	0.19%
	HCA	F	0.19%
	MET	A	0.19%
	AIG	B	0.19%
	O	D	0.19%
	FIS	C	0.19%
	MSTR	C	0.19%
	PSA	D	0.18%
	CCI	D	0.18%
	PRU	A	0.18%
	PEP	F	0.18%
	LHX	C	0.18%
	HWM	A	0.17%
	RSG	A	0.17%
	F	C	0.17%
	SPG	B	0.17%
	ALL	A	0.17%
	DFS	B	0.17%
	PEG	A	0.17%
	AME	A	0.17%
	PCG	A	0.17%
	CBRE	B	0.16%
	OTIS	C	0.16%
	URI	B	0.16%
	MSI	B	0.16%
	FERG	B	0.15%
	STZ	D	0.15%
	CTSH	B	0.15%
	KR	B	0.15%
	XEL	A	0.15%
	EXC	C	0.15%
	APH	A	0.14%
	GIS	D	0.14%
	MTB	A	0.14%
	RCL	A	0.14%
	CHTR	C	0.14%
	ACGL	D	0.14%
	NDAQ	A	0.13%
	AVB	B	0.13%
	VICI	C	0.13%
	HUM	C	0.13%
	MCHP	D	0.13%
	ED	D	0.13%
	AMGN	D	0.13%
	CL	D	0.13%
	EXR	D	0.13%
	HIG	B	0.13%
	GPN	B	0.12%
	HLT	A	0.12%
	CNC	D	0.12%
	RJF	A	0.12%
	IQV	D	0.12%
	WEC	A	0.12%
	ETR	B	0.12%
	EIX	B	0.12%
	WTW	B	0.12%
	FITB	A	0.12%
	SQ	B	0.11%
	HPE	B	0.11%
	KHC	F	0.11%
	EQR	B	0.11%
	STT	A	0.11%
	CSGP	D	0.11%
	PAYX	C	0.11%
	DTE	C	0.1%
	PPL	B	0.1%
	MTD	D	0.1%
	SBUX	A	0.1%
	HBAN	A	0.1%
	SYF	B	0.1%
	VTR	C	0.1%
	NVR	D	0.1%
	KEYS	A	0.1%
	TROW	B	0.1%
	AWK	D	0.1%
	FCNCA	A	0.1%
	KMB	D	0.1%
	SW	A	0.1%
	WBD	C	0.09%
	YUM	B	0.09%
	CINF	A	0.09%
	PGR	A	0.09%
	EQT	B	0.09%
	SBAC	D	0.09%
	LNG	B	0.09%
	FE	C	0.09%
	RF	A	0.09%
	AEE	A	0.09%
	CCL	B	0.09%
	EFX	F	0.09%
	COO	D	0.08%
	CNP	B	0.08%
	PFG	D	0.08%
	BBY	D	0.08%
	CMS	C	0.08%
	INVH	D	0.08%
	CFG	B	0.08%
	K	A	0.08%
	CBOE	B	0.08%
	ZM	B	0.08%
	HSY	F	0.08%
	NTRS	A	0.08%
	HOOD	B	0.08%
	EXE	B	0.08%
	APO	B	0.08%
	LDOS	C	0.08%
	ES	D	0.08%
	TDY	B	0.08%
	MKL	A	0.07%
	OC	A	0.07%
	CVNA	B	0.07%
	MAS	D	0.07%
	J	F	0.07%
	TRU	D	0.07%
	CSL	C	0.07%
	RS	B	0.07%
	KEY	B	0.07%
	WRB	A	0.07%
	WSO	A	0.07%
	TSN	B	0.07%
	MAA	B	0.07%
	BALL	D	0.07%
	CTRA	B	0.07%
	IBKR	A	0.07%
	MSCI	C	0.07%
	ESS	B	0.07%
	SYY	B	0.06%
	EVRG	A	0.06%
	EWBC	A	0.06%
	VRSN	F	0.06%
	IRM	D	0.06%
	NDSN	B	0.06%
	ACM	A	0.06%
	UDR	B	0.06%
	DOC	D	0.06%
	BRO	B	0.06%
	THC	D	0.06%
	AMCR	D	0.06%
	USFD	A	0.06%
	L	A	0.06%
	GGG	B	0.06%
	RGA	A	0.06%
	VTRS	A	0.06%
	SUI	D	0.06%
	TOL	B	0.06%
	LNT	A	0.06%
	SSNC	B	0.06%
	FNF	B	0.06%
	UTHR	C	0.06%
	TXT	D	0.06%
	GEN	B	0.06%
	BAX	D	0.06%
	KIM	A	0.06%
	NI	A	0.06%
	DG	F	0.06%
	Z	A	0.05%
	UHS	D	0.05%
	SOFI	A	0.05%
	CDW	F	0.05%
	FDS	B	0.05%
	EMN	D	0.05%
	MRNA	F	0.05%
	SCI	B	0.05%
	NVT	B	0.05%
	HST	C	0.05%
	NTNX	A	0.05%
	WPC	D	0.05%
	FTI	A	0.05%
	ALLE	D	0.05%
	CASY	A	0.05%
	BXP	D	0.05%
	EPAM	C	0.05%
	CPT	B	0.05%
	COHR	B	0.05%
	ITT	A	0.05%
	CLH	B	0.05%
	JKHY	D	0.05%
	AMH	D	0.05%
	CAG	D	0.05%
	GLPI	C	0.05%
	CHRW	C	0.05%
	UNM	A	0.05%
	JBL	B	0.05%
	ELS	C	0.05%
	TPR	B	0.05%
	AFRM	B	0.05%
	TWLO	A	0.05%
	RPM	A	0.05%
	RNR	C	0.05%
	EG	C	0.05%
	SWKS	F	0.05%
	CW	B	0.05%
	EME	C	0.05%
	ZTS	D	0.05%
	AVTR	F	0.05%
	TW	A	0.04%
	GMED	A	0.04%
	REXR	F	0.04%
	CMA	A	0.04%
	BWXT	B	0.04%
	FBIN	D	0.04%
	INGR	B	0.04%
	DCI	B	0.04%
	RGLD	C	0.04%
	ORI	A	0.04%
	JEF	A	0.04%
	SOLV	C	0.04%
	DRI	B	0.04%
	PNFP	B	0.04%
	BRBR	A	0.04%
	FRT	B	0.04%
	CNH	C	0.04%
	COIN	C	0.04%
	MKTX	D	0.04%
	CIEN	B	0.04%
	DOX	D	0.04%
	DPZ	C	0.04%
	GL	B	0.04%
	DTM	B	0.04%
	WAL	B	0.04%
	WTRG	B	0.04%
	ARMK	B	0.04%
	EHC	B	0.04%
	AES	F	0.04%
	NLY	C	0.04%
	AVY	D	0.04%
	OHI	C	0.04%
	AFG	A	0.04%
	GME	C	0.04%
	LAD	A	0.04%
	RPRX	D	0.04%
	DKS	C	0.04%
	DAY	B	0.04%
	ALSN	B	0.04%
	AYI	B	0.04%
	BLD	D	0.04%
	WWD	B	0.04%
	WBS	A	0.04%
	CACI	D	0.04%
	PRI	A	0.04%
	BKNG	A	0.04%
	PNW	B	0.04%
	FOXA	B	0.04%
	CCK	C	0.04%
	EVR	B	0.04%
	CTLT	B	0.04%
	CUBE	D	0.04%
	FWONK	B	0.04%
	FTNT	C	0.04%
	PFGC	B	0.04%
	TAP	C	0.04%
	SJM	D	0.04%
	ATR	B	0.04%
	CG	A	0.04%
	AA	B	0.04%
	FHN	A	0.04%
	RRX	B	0.04%
	NRG	B	0.04%
	INCY	C	0.04%
	KMX	B	0.04%
	SF	B	0.04%
	AIZ	A	0.04%
	BJ	A	0.04%
	OVV	B	0.04%
	COLB	A	0.03%
	MTG	C	0.03%
	CGNX	C	0.03%
	FAF	A	0.03%
	IVZ	B	0.03%
	LSTR	D	0.03%
	BILL	A	0.03%
	STAG	F	0.03%
	AZPN	A	0.03%
	WEX	D	0.03%
	HR	C	0.03%
	DINO	D	0.03%
	AXS	A	0.03%
	VMI	B	0.03%
	MKSI	C	0.03%
	FMC	D	0.03%
	ALK	C	0.03%
	WSM	B	0.03%
	WH	B	0.03%
	HRB	D	0.03%
	DAR	C	0.03%
	FCN	D	0.03%
	FND	C	0.03%
	MTSI	B	0.03%
	GXO	B	0.03%
	RLI	B	0.03%
	SSD	D	0.03%
	FR	C	0.03%
	ATI	D	0.03%
	GNTX	C	0.03%
	ELAN	D	0.03%
	R	B	0.03%
	ESAB	B	0.03%
	VFC	C	0.03%
	OSK	B	0.03%
	BBWI	D	0.03%
	AGNC	D	0.03%
	VNO	B	0.03%
	KBR	F	0.03%
	CART	C	0.03%
	MIDD	C	0.03%
	SKX	D	0.03%
	COKE	C	0.03%
	MHK	D	0.03%
	LBRDK	C	0.03%
	LW	C	0.03%
	PB	A	0.03%
	ROKU	D	0.03%
	CHE	D	0.03%
	DASH	A	0.03%
	MNST	C	0.03%
	RHI	B	0.03%
	JAZZ	B	0.03%
	ADC	B	0.03%
	KEX	C	0.03%
	HII	D	0.03%
	PR	B	0.03%
	NNN	D	0.03%
	BERY	B	0.03%
	FLS	B	0.03%
	BWA	D	0.03%
	G	B	0.03%
	SHW	A	0.03%
	MTCH	D	0.03%
	RRC	B	0.03%
	CHRD	D	0.03%
	ACI	C	0.03%
	CZR	F	0.03%
	SNV	B	0.03%
	X	C	0.03%
	ECL	D	0.03%
	TKO	B	0.03%
	SEIC	B	0.03%
	APG	B	0.03%
	CFR	B	0.03%
	APA	D	0.03%
	LECO	B	0.03%
	LAMR	D	0.03%
	WAT	B	0.03%
	RIVN	F	0.03%
	VOYA	B	0.03%
	CPB	D	0.03%
	FICO	B	0.03%
	EGP	F	0.03%
	RL	B	0.03%
	GPK	C	0.03%
	NYT	C	0.03%
	MTZ	B	0.03%
	CR	A	0.03%
	JLL	D	0.03%
	MOS	F	0.03%
	CBSH	A	0.03%
	TTC	D	0.03%
	OGE	B	0.03%
	HRL	D	0.03%
	FYBR	D	0.03%
	WTFC	A	0.03%
	WYNN	D	0.03%
	GWRE	A	0.03%
	ALLY	C	0.03%
	ZION	B	0.03%
	BRX	A	0.03%
	TTEK	F	0.03%
	AAL	B	0.03%
	MGM	D	0.03%
	AOS	F	0.03%
	SNX	C	0.03%
	HSIC	B	0.03%
	KNX	B	0.03%
	AR	B	0.03%
	HLI	B	0.03%
	AXTA	A	0.03%
	RBC	A	0.03%
	WCC	B	0.03%
	OGN	D	0.02%
	LINE	F	0.02%
	SITE	D	0.02%
	HOG	D	0.02%
	FLO	D	0.02%
	TPG	A	0.02%
	GTES	A	0.02%
	PAYC	B	0.02%
	DLB	B	0.02%
	M	D	0.02%
	AN	C	0.02%
	KMPR	B	0.02%
	GAP	C	0.02%
	AWI	A	0.02%
	RYN	D	0.02%
	SLGN	A	0.02%
	PSN	D	0.02%
	WSC	D	0.02%
	EEFT	B	0.02%
	DBX	B	0.02%
	KRC	C	0.02%
	CUZ	B	0.02%
	AZO	C	0.02%
	AGO	B	0.02%
	ST	F	0.02%
	FRPT	B	0.02%
	AVT	C	0.02%
	CROX	D	0.02%
	ROIV	C	0.02%
	OLN	D	0.02%
	TKR	D	0.02%
	WTM	A	0.02%
	HXL	D	0.02%
	AMP	A	0.02%
	BYD	C	0.02%
	SON	D	0.02%
	AL	B	0.02%
	UGI	A	0.02%
	BFAM	D	0.02%
	OZK	B	0.02%
	POST	C	0.02%
	SLM	A	0.02%
	SN	D	0.02%
	CCCS	B	0.02%
	LEA	D	0.02%
	CRUS	D	0.02%
	LITE	B	0.02%
	EXAS	D	0.02%
	GNRC	B	0.02%
	ORLY	B	0.02%
	RITM	C	0.02%
	BC	C	0.02%
	THO	B	0.02%
	NFG	A	0.02%
	OLLI	D	0.02%
	DOCS	C	0.02%
	PVH	C	0.02%
	FOX	A	0.02%
	H	B	0.02%
	WMS	D	0.02%
	JHG	A	0.02%
	SAIA	B	0.02%
	THG	A	0.02%
	AGCO	D	0.02%
	AMG	B	0.02%
	ONTO	D	0.02%
	LNC	B	0.02%
	FNB	A	0.02%
	VNT	B	0.02%
	LFUS	F	0.02%
	IDA	A	0.02%
	WHR	B	0.02%
	RGEN	D	0.02%
	CE	F	0.02%
	S	B	0.02%
	STWD	C	0.02%
	ARW	D	0.02%
	BEN	C	0.02%
	BIO	D	0.02%
	MTDR	B	0.02%
	BPOP	B	0.02%
	OMF	A	0.02%
	SAIC	F	0.02%
	COLD	D	0.02%
	ESI	A	0.02%
	NOV	C	0.02%
	SIRI	C	0.02%
	MOH	F	0.02%
	KD	B	0.02%
	MSA	D	0.02%
	MAT	D	0.02%
	PARA	C	0.02%
	LLYVA	A	0.01%
	DDS	B	0.01%
	SNDR	B	0.01%
	TRIP	F	0.01%
	REYN	D	0.01%
	FTRE	D	0.01%
	LEG	F	0.01%
	WEN	D	0.01%
	EXEL	B	0.01%
	GO	C	0.01%
	UA	C	0.01%
	QS	F	0.01%
	CLVT	F	0.01%
	BIRK	D	0.01%
	ALAB	B	0.01%
	CNXC	F	0.01%
	VSTS	C	0.01%
	CRI	D	0.01%
	PSTG	D	0.01%
	PPC	C	0.01%
	QDEL	F	0.01%
	AZEK	A	0.01%
	RKT	F	0.01%
	LBTYK	A	0.01%
	KSS	F	0.01%
	LCID	F	0.01%
	INFA	D	0.01%
	ETSY	D	0.01%
	UAA	C	0.01%
	LBTYA	B	0.01%
	LYFT	C	0.01%
	BRKR	D	0.01%
	IPGP	D	0.01%
	GLOB	B	0.01%
	SHC	F	0.01%
	ADT	C	0.01%
	LPX	B	0.01%
	RCM	F	0.01%
	AAP	C	0.01%
	CWEN	C	0.01%
	WU	D	0.01%
	AZTA	D	0.01%
	YETI	C	0.01%
	JWN	C	0.01%
	HAYW	B	0.01%
	SAM	C	0.01%
	BR	A	0.01%
	PINC	B	0.01%
	ALGM	D	0.01%
	SPB	C	0.01%
	MP	B	0.01%
	CPRI	F	0.01%
	HHH	B	0.01%
	EXP	A	0.01%
	ENOV	C	0.01%
	MPW	F	0.01%
	BOKF	B	0.01%
	CC	C	0.01%
	CXT	B	0.01%
	COTY	F	0.01%
	SEE	C	0.01%
	COLM	B	0.01%
	CNM	D	0.01%
	AMKR	D	0.01%
	VIRT	B	0.01%
	ECG	C	0.01%
	U	C	0.01%
	AMED	F	0.01%
	MAN	D	0.01%
	SNRE	D	0.01%
	PAG	B	0.01%
	NSA	D	0.01%
	LLYVK	A	0.01%
	PK	B	0.01%
	NXST	C	0.01%
	IRDM	D	0.01%
	BROS	B	0.01%
	SPR	D	0.01%
	PENN	C	0.01%
	AMTM	D	0.01%
	SMG	D	0.01%
	LOPE	B	0.01%
	BHF	B	0.01%
	VAC	B	0.01%
	ZI	D	0.01%
	HUN	F	0.01%
	AM	A	0.01%
	HIW	D	0.01%
	EPR	D	0.01%
	MASI	A	0.01%
	ZG	A	0.01%
	ALNY	D	0.01%
	CPRT	A	0.01%
	PII	D	0.01%
	ACHC	F	0.01%
	FHB	A	0.01%
	CLF	F	0.01%
	UHAL	D	0.01%
	IAC	D	0.01%
	NVST	B	0.01%
	W	F	0.01%
	PRGO	B	0.01%
	VNOM	A	0.01%
	TNL	A	0.01%
	XRAY	F	0.01%
	CIVI	D	0.01%
	NWL	B	0.01%
	DNB	B	0.01%
	MDU	D	0.01%
	MSGS	A	0.01%
	NEU	C	0.01%
	RH	B	0.01%
	DXC	B	0.01%
	PLNT	A	0.01%
	OLED	D	0.01%
	MSM	C	0.01%
	ASH	D	0.01%
	LOAR	A	0.0%
	UWMC	D	0.0%
	SEG	B	0.0%
	PARAA	B	0.0%
	NFE	D	0.0%
	UHAL	D	0.0%
	IONS	F	0.0%
	LAZ	B	0.0%
	GRAL	C	0.0%
	TXG	F	0.0%
	CACC	D	0.0%
	PLTK	B	0.0%
	DJT	C	0.0%
	CHH	A	0.0%
	SEB	F	0.0%
	UI	A	0.0%
	TFSL	A	0.0%
	PATH	C	0.0%
	WOLF	F	0.0%
	LSCC	D	0.0%
	FIVE	F	0.0%
	CWEN	C	0.0%
	HCP	B	0.0%
	CAR	C	0.0%
	MTN	C	0.0%
	CNA	B	0.0%
	PYCR	C	0.0%
	HAS	D	0.0%
	FWONA	B	0.0%
	AS	B	0.0%
	CERT	F	0.0%
	DV	C	0.0%
	LBRDA	C	0.0%
	NCNO	B	0.0%

IWD Underweight 34 Positions Relative to HLAL

	Symbol	Grade	Weight
	AAPL	C	-14.91%
	MSFT	F	-13.84%
	META	D	-5.55%
	GOOGL	C	-4.63%
	TSLA	B	-4.25%
	GOOG	C	-3.91%
	MRK	F	-1.11%
	ADBE	C	-0.98%
	NOW	A	-0.92%
	ISRG	A	-0.85%
	UBER	D	-0.62%
	PANW	C	-0.54%
	LRCX	F	-0.41%
	SNPS	B	-0.37%
	KLAC	D	-0.37%
	CDNS	B	-0.37%
	ADSK	A	-0.3%
	NXPI	D	-0.25%
	VRT	B	-0.22%
	AXON	A	-0.2%
	ODFL	B	-0.19%
	COR	B	-0.18%
	LULU	C	-0.17%
	IT	C	-0.17%
	IDXX	F	-0.15%
	TSCO	D	-0.13%
	BURL	A	-0.08%
	PODD	C	-0.08%
	FLEX	A	-0.07%
	ICLR	D	-0.07%
	SMCI	F	-0.06%
	POOL	C	-0.06%
	ROL	B	-0.06%
	SCCO	F	-0.04%

IWD: Top Represented Industries & Keywords

Industries: Diversified Industrials Banks - Regional - US Software - Application Utilities - Regulated Electric Oil & Gas E&P Semiconductors Asset Management Diagnostics & Research Biotechnology Business Services Specialty Retail Capital Markets Packaged Foods Specialty Chemicals Information Technology Services Insurance - Property & Casualty Packaging & Containers Aerospace & Defense Software - Infrastructure REIT - Residential

Keywords: S&P 500 Nasdaq 100 Natural Gas Insurance Real Estate Investment Trust Bank Electronics Banking Computing Chemical Aerospace Electricity Mining Telecommunications Insurance Products Semiconductor Dow Jones Component Medicine Beverage Biotechnology

HLAL: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Diagnostics & Research Semiconductors Medical Devices Medical Instruments & Supplies Oil & Gas E&P Specialty Chemicals Drug Manufacturers - Major Household & Personal Products Integrated Shipping & Logistics Semiconductor Equipment & Materials Specialty Retail Airlines Apparel Stores Biotechnology Building Materials Business Services Chemicals Internet Content & Information

Keywords: S&P 500 Nasdaq 100 Computing Medicine Natural Gas Integrated Circuits Semiconductor Dow Jones Component Chemical Electronics Mining Petroleum Industry Aerospace Oil And Gas Biotechnology Building Materials Mobile Devices Plastic Transport Acid