IWN vs. FMAT ETF Comparison

Comparison of iShares Russell 2000 Value ETF (IWN) to Fidelity MSCI Materials Index ETF (FMAT)

IWN

iShares Russell 2000 Value ETF

IWN Description

The investment seeks to track the investment results of an index 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. It seeks to track the investment results of the Russell 2000 Value Index (the "underlying index"), which measures the performance of the small-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$174.32

Average Daily Volume

927,426

Number of Holdings ^*

1385

* may have additional holdings in another (foreign) market

FMAT

Fidelity MSCI Materials Index ETF

FMAT Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Materials 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 Materials Index, which represents the performance of the materials sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Materials Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$52.71

Average Daily Volume

32,741

Number of Holdings ^*

110

* may have additional holdings in another (foreign) market

Performance

Period	IWN	FMAT
30 Days	3.97%	-3.14%
60 Days	6.30%	1.78%
90 Days	8.46%	3.96%
12 Months	28.13%	19.21%

42 Overlapping Holdings

Symbol	Grade	Weight in IWN	Weight in FMAT	Overlap
ARCH	B	0.21%	0.2%	0.2%
ASIX	B	0.06%	0.06%	0.06%
ASPN	F	0.05%	0.07%	0.05%
AVNT	B	0.33%	0.32%	0.32%
CDE	D	0.18%	0.18%	0.18%
CLW	F	0.03%	0.03%	0.03%
CMC	B	0.51%	0.48%	0.48%
CMP	C	0.03%	0.03%	0.03%
ECVT	C	0.07%	0.06%	0.06%
FUL	F	0.22%	0.29%	0.22%
GEF	B	0.12%	0.11%	0.11%
GEF	B	0.12%	0.02%	0.02%
GEF	B	0.02%	0.02%	0.02%
GEF	B	0.02%	0.11%	0.02%
HAYN	A	0.05%	0.05%	0.05%
HCC	C	0.28%	0.26%	0.26%
HL	D	0.24%	0.24%	0.24%
IOSP	B	0.03%	0.2%	0.03%
KALU	C	0.01%	0.09%	0.01%
KOP	C	0.05%	0.05%	0.05%
KRO	D	0.02%	0.02%	0.02%
LXU	C	0.03%	0.03%	0.03%
MATV	F	0.05%	0.05%	0.05%
MTRN	B	0.01%	0.17%	0.01%
MTUS	D	0.05%	0.04%	0.04%
MTX	B	0.19%	0.18%	0.18%
OI	C	0.14%	0.14%	0.14%
PACK	C	0.02%	0.02%	0.02%
PCT	C	0.09%	0.1%	0.09%
PRM	C	0.13%	0.13%	0.13%
PTVE	C	0.03%	0.04%	0.03%
RDUS	D	0.04%	0.04%	0.04%
RYI	B	0.05%	0.05%	0.05%
SCL	C	0.11%	0.12%	0.11%
SLVM	C	0.19%	0.22%	0.19%
SUM	B	0.44%	0.41%	0.41%
SXC	B	0.08%	0.07%	0.07%
SXT	B	0.01%	0.2%	0.01%
TROX	F	0.1%	0.1%	0.1%
TRS	D	0.08%	0.07%	0.07%
WS	B	0.11%	0.1%	0.1%
ZEUS	C	0.03%	0.03%	0.03%

IWN Overweight 1345 Positions Relative to FMAT

Symbol	Grade	Weight
LUMN	C	0.69%
SSB	B	0.59%
JXN	C	0.57%
TMHC	B	0.54%
MTH	D	0.49%
ONB	B	0.49%
GBCI	B	0.46%
CADE	B	0.45%
CYTK	C	0.43%
KRG	B	0.43%
TRNO	F	0.42%
ALTM	C	0.41%
EPRT	C	0.41%
ESNT	D	0.41%
MATX	B	0.4%
CNX	B	0.4%
HOMB	A	0.4%
GATX	B	0.39%
UBSI	B	0.39%
UMBF	B	0.39%
ABG	B	0.38%
GPI	B	0.38%
SLG	C	0.38%
RDN	C	0.36%
HWC	B	0.36%
ACA	B	0.36%
MUR	D	0.35%
IRT	A	0.34%
KBH	D	0.34%
POR	D	0.34%
NJR	A	0.33%
MHO	D	0.32%
ORA	B	0.32%
SANM	C	0.32%
ABCB	B	0.32%
SKYW	B	0.32%
SBRA	C	0.32%
SWX	B	0.32%
VLY	B	0.31%
CTRE	C	0.31%
SIG	B	0.3%
BKH	A	0.3%
MAC	B	0.3%
ASB	B	0.29%
KFY	B	0.29%
PECO	B	0.29%
OGS	B	0.29%
SM	C	0.29%
ESGR	B	0.29%
CNO	B	0.29%
COOP	B	0.29%
IBOC	B	0.28%
TCBI	B	0.28%
CRC	B	0.28%
PBH	A	0.28%
TXNM	A	0.28%
CEIX	B	0.27%
ALE	A	0.27%
ICUI	D	0.27%
NOG	B	0.27%
RUSHA	B	0.27%
AX	B	0.27%
UCB	B	0.26%
BTU	C	0.26%
CDP	C	0.26%
BGC	C	0.26%
ABM	B	0.26%
SR	C	0.26%
APLE	B	0.26%
TEX	D	0.26%
NHI	D	0.25%
ASGN	D	0.25%
SFBS	B	0.25%
HP	C	0.25%
CBU	B	0.25%
FULT	B	0.25%
JBT	B	0.25%
CALM	B	0.25%
REZI	A	0.25%
NEOG	D	0.25%
UFPI	B	0.25%
AUB	A	0.25%
EBC	B	0.25%
BXMT	D	0.24%
AGIO	B	0.24%
BNL	D	0.24%
NWE	C	0.24%
PCH	F	0.24%
PLXS	C	0.23%
GEO	B	0.23%
RIOT	C	0.23%
WSFS	B	0.23%
RVMD	C	0.23%
TGNA	B	0.23%
PBF	F	0.23%
HASI	F	0.23%
PTEN	C	0.23%
RIG	C	0.23%
CATY	B	0.23%
IIPR	F	0.22%
NPO	B	0.22%
ALIT	C	0.22%
SATS	D	0.22%
GHC	B	0.22%
TDS	C	0.22%
BOH	B	0.21%
CVBF	B	0.21%
AVA	C	0.21%
SYNA	C	0.21%
UE	B	0.21%
ASTS	C	0.21%
FBP	B	0.21%
BCC	B	0.21%
GNW	B	0.21%
INDB	B	0.21%
HUBG	A	0.21%
SFNC	B	0.21%
UNF	B	0.21%
CPK	A	0.2%
TPH	C	0.2%
BKU	A	0.2%
VCYT	B	0.2%
ATGE	C	0.2%
FLG	D	0.2%
PRK	B	0.2%
LXP	D	0.2%
GT	C	0.2%
HTLF	B	0.2%
ENVA	B	0.19%
AKR	B	0.19%
FCPT	C	0.19%
FFBC	B	0.19%
DIOD	F	0.19%
LIVN	C	0.19%
ABR	B	0.19%
FIBK	B	0.19%
ASO	F	0.19%
MIR	B	0.19%
LBRT	F	0.19%
SKY	B	0.19%
NMIH	D	0.19%
SNEX	B	0.18%
BFH	B	0.18%
WAFD	B	0.18%
CXW	B	0.18%
TOWN	B	0.18%
STNG	F	0.18%
DEI	B	0.18%
FRME	B	0.18%
VSTO	A	0.18%
TTMI	B	0.18%
ZD	B	0.18%
PPBI	B	0.18%
MRCY	B	0.17%
CURB	C	0.17%
KMT	B	0.17%
BDC	C	0.17%
IBTX	B	0.17%
BANR	B	0.17%
AUR	D	0.17%
SBCF	B	0.17%
PFS	B	0.17%
WERN	B	0.16%
RNST	B	0.16%
NBTB	B	0.16%
CWT	D	0.16%
CCS	F	0.16%
BANF	B	0.16%
STRA	C	0.16%
EFSC	B	0.16%
SHO	D	0.16%
RUN	F	0.16%
VSH	F	0.16%
TRMK	B	0.16%
PHIN	B	0.16%
CABO	B	0.16%
BANC	B	0.16%
OMCL	C	0.16%
SKT	A	0.16%
VIAV	C	0.16%
SGRY	F	0.16%
FBK	B	0.15%
OPCH	F	0.15%
ROG	D	0.15%
BEAM	C	0.15%
LGND	C	0.15%
FL	F	0.15%
IGT	F	0.15%
WSBC	B	0.15%
KAR	B	0.15%
LGIH	F	0.15%
MGEE	B	0.15%
VSCO	B	0.15%
EQC	C	0.15%
NMRK	B	0.15%
KTOS	B	0.15%
IVT	B	0.15%
AHR	B	0.15%
B	A	0.15%
MBC	D	0.15%
ROIC	A	0.15%
SYBT	B	0.14%
AIN	C	0.14%
AKRO	C	0.14%
STR	B	0.14%
JBLU	C	0.14%
KNTK	B	0.14%
DRH	C	0.14%
OFG	B	0.14%
GBX	A	0.14%
CWK	C	0.14%
HE	F	0.13%
EPC	F	0.13%
MCY	B	0.13%
FBNC	B	0.13%
NWBI	B	0.13%
NTB	B	0.13%
THS	F	0.13%
HLMN	C	0.13%
SJW	F	0.13%
OTTR	C	0.13%
AIR	B	0.13%
ADNT	D	0.13%
FCF	B	0.13%
NEO	B	0.13%
STC	C	0.13%
BHE	C	0.13%
ESE	B	0.13%
NNI	C	0.12%
GRBK	D	0.12%
NE	C	0.12%
DNLI	C	0.12%
NHC	B	0.12%
PRG	B	0.12%
IART	C	0.12%
LC	B	0.12%
MLKN	D	0.12%
KN	B	0.12%
LKFN	B	0.12%
LTC	B	0.12%
SUPN	C	0.12%
SASR	A	0.12%
CHCO	B	0.12%
INSW	F	0.12%
LZB	B	0.12%
URBN	C	0.12%
WGO	B	0.12%
TALO	C	0.12%
NBHC	B	0.12%
NXT	C	0.11%
DNOW	B	0.11%
LTH	D	0.11%
VRNT	D	0.11%
VBTX	B	0.11%
RLJ	C	0.11%
PRDO	B	0.11%
QCRH	B	0.11%
NWN	B	0.11%
TCBK	B	0.11%
CODI	B	0.11%
PEB	F	0.11%
ELME	D	0.11%
NTCT	B	0.11%
MYGN	F	0.11%
XHR	B	0.11%
STBA	B	0.11%
CUBI	B	0.11%
HOPE	B	0.11%
HTH	B	0.11%
GTY	C	0.11%
HUT	B	0.11%
GNL	F	0.11%
VSEC	B	0.11%
OUT	B	0.11%
NTLA	F	0.11%
HMN	B	0.11%
ARI	C	0.1%
SEM	C	0.1%
CENTA	C	0.1%
XPRO	F	0.1%
NX	C	0.1%
MODG	F	0.1%
HNI	B	0.1%
ITGR	B	0.1%
AAT	B	0.1%
SKWD	A	0.1%
LADR	B	0.1%
AWR	C	0.1%
CASH	B	0.1%
PLUG	D	0.1%
ANDE	D	0.1%
VRE	B	0.1%
UNIT	C	0.1%
HELE	C	0.1%
AMC	C	0.1%
RRR	F	0.1%
BBIO	F	0.1%
HI	C	0.1%
FOXF	F	0.1%
DBRG	F	0.1%
CRGY	A	0.1%
STEL	B	0.1%
JBGS	F	0.1%
WABC	B	0.1%
TVTX	B	0.1%
BUSE	B	0.1%
ALEX	B	0.1%
AMWD	B	0.1%
ESRT	D	0.1%
WKC	C	0.1%
RC	D	0.09%
BHLB	B	0.09%
OCFC	B	0.09%
CARS	B	0.09%
WMK	B	0.09%
CNNE	C	0.09%
CRK	B	0.09%
SCS	B	0.09%
CIM	D	0.09%
NAVI	D	0.09%
TWO	F	0.09%
PEBO	A	0.09%
GIII	C	0.09%
SRCE	B	0.09%
EIG	A	0.09%
SYRE	C	0.09%
UVV	B	0.09%
UNFI	B	0.09%
SAFT	B	0.09%
APOG	B	0.09%
GABC	A	0.09%
SPNT	B	0.09%
PDM	D	0.09%
WTTR	B	0.09%
PFSI	D	0.09%
KW	C	0.09%
COHU	C	0.09%
SCSC	B	0.09%
TILE	B	0.09%
DEA	D	0.09%
TDOC	C	0.09%
SBH	A	0.09%
PDCO	F	0.09%
MD	C	0.09%
TPC	C	0.09%
ADUS	D	0.09%
BRKL	B	0.08%
MSEX	C	0.08%
NVEE	F	0.08%
NXRT	B	0.08%
SABR	B	0.08%
DBD	C	0.08%
UMH	C	0.08%
FBRT	C	0.08%
OPEN	F	0.08%
FUN	B	0.08%
AMBA	C	0.08%
BV	C	0.08%
DAN	D	0.08%
FBMS	B	0.08%
VSAT	F	0.08%
SAFE	F	0.08%
ATSG	A	0.08%
IRON	C	0.08%
VAL	D	0.08%
ALGT	B	0.08%
CSR	B	0.08%
DGII	B	0.08%
MRC	B	0.08%
ROCK	C	0.08%
NIC	B	0.08%
WINA	B	0.08%
MSGE	F	0.08%
TGI	B	0.08%
FDP	B	0.08%
ECPG	C	0.08%
DCOM	B	0.08%
PMT	D	0.08%
HLX	C	0.08%
MFA	D	0.08%
BDN	D	0.07%
FIP	D	0.07%
ZYME	B	0.07%
DCO	B	0.07%
SIGI	B	0.07%
CTBI	B	0.07%
VTOL	B	0.07%
CDNA	D	0.07%
PRAA	C	0.07%
TNC	F	0.07%
UTL	C	0.07%
DX	B	0.07%
BHRB	B	0.07%
SFL	D	0.07%
ARR	C	0.07%
UVSP	B	0.07%
MARA	B	0.07%
GPOR	B	0.07%
TMP	B	0.07%
RWT	D	0.07%
FMBH	B	0.07%
BZH	B	0.07%
PGRE	C	0.07%
ODP	F	0.07%
CNOB	B	0.07%
HSII	B	0.07%
LILAK	F	0.07%
EXTR	C	0.07%
COMM	D	0.07%
NTST	F	0.07%
PRLB	C	0.07%
ACT	C	0.07%
INVA	C	0.07%
WD	D	0.07%
BFC	B	0.07%
MMI	B	0.07%
VMEO	B	0.07%
CMCO	C	0.07%
EFC	C	0.07%
SBSI	B	0.07%
AAOI	B	0.07%
BY	B	0.07%
DLX	B	0.07%
BXC	B	0.07%
OBK	B	0.07%
IMKTA	B	0.07%
XRX	F	0.07%
PLAB	C	0.07%
PFC	B	0.07%
MBWM	B	0.06%
MLR	C	0.06%
AXL	C	0.06%
GCI	D	0.06%
IAS	D	0.06%
RPAY	D	0.06%
CFB	B	0.06%
IBCP	B	0.06%
NBBK	B	0.06%
MRTN	C	0.06%
PSFE	D	0.06%
DXPE	B	0.06%
OSBC	A	0.06%
CBRL	C	0.06%
VVX	C	0.06%
PTCT	C	0.06%
FCBC	B	0.06%
PSMT	D	0.06%
EMBC	C	0.06%
GLDD	B	0.06%
LGF.A	D	0.06%
MLI	B	0.06%
OMI	F	0.06%
DK	D	0.06%
HBNC	A	0.06%
EGBN	B	0.06%
THR	C	0.06%
EYE	C	0.06%
BRSP	B	0.06%
PLYM	F	0.06%
BELFB	C	0.06%
WGS	C	0.06%
CTKB	C	0.06%
VIR	C	0.06%
PLRX	D	0.06%
PRA	B	0.06%
CFFN	B	0.06%
HOV	F	0.06%
CNXN	C	0.06%
ASTE	B	0.06%
WNC	C	0.06%
HCSG	B	0.06%
HFWA	B	0.06%
ETNB	C	0.06%
PLUS	F	0.06%
MNRO	B	0.06%
MBUU	C	0.06%
PFBC	B	0.06%
FWRD	C	0.06%
VTLE	C	0.06%
WLY	A	0.06%
PARR	F	0.06%
AVNS	F	0.06%
SPTN	F	0.05%
SMBC	B	0.05%
SHEN	F	0.05%
RYAM	B	0.05%
TRST	B	0.05%
ADTN	B	0.05%
PGC	B	0.05%
CORZ	B	0.05%
DNTH	D	0.05%
CNDT	B	0.05%
ETD	D	0.05%
GDEN	B	0.05%
OFIX	C	0.05%
AIV	D	0.05%
AMSF	B	0.05%
TRML	C	0.05%
HAIN	F	0.05%
MCB	B	0.05%
CMTG	F	0.05%
ADPT	C	0.05%
VTS	A	0.05%
RBCAA	B	0.05%
LNN	B	0.05%
SAH	B	0.05%
AMAL	B	0.05%
PUMP	C	0.05%
NTGR	B	0.05%
INN	D	0.05%
PGY	D	0.05%
CRGX	F	0.05%
AHH	D	0.05%
ETWO	F	0.05%
ANNX	C	0.05%
SCVL	D	0.05%
HAFC	B	0.05%
EQBK	A	0.05%
WASH	B	0.05%
GPRE	F	0.05%
BMBL	C	0.05%
HZO	F	0.05%
HG	C	0.05%
AMTB	B	0.05%
AEO	F	0.05%
BFST	B	0.05%
CAL	D	0.05%
MATW	C	0.05%
NBN	B	0.05%
SMP	B	0.05%
WSR	B	0.05%
CNK	B	0.05%
PCRX	C	0.05%
MBIN	D	0.05%
GNK	C	0.05%
CAC	B	0.05%
FLR	C	0.05%
CGON	D	0.05%
SWI	B	0.05%
FG	B	0.05%
GERN	F	0.05%
CPF	B	0.05%
REPL	C	0.05%
ORRF	B	0.05%
XNCR	B	0.05%
SITC	F	0.05%
ICHR	C	0.05%
GVA	B	0.05%
TRDA	B	0.04%
AMBC	C	0.04%
OPK	B	0.04%
MOFG	B	0.04%
LGF.A	D	0.04%
MPB	B	0.04%
AURA	C	0.04%
BGS	F	0.04%
KE	C	0.04%
PZZA	D	0.04%
HONE	B	0.04%
FARO	B	0.04%
KREF	D	0.04%
AVXL	C	0.04%
RGNX	D	0.04%
KGS	B	0.04%
PKST	F	0.04%
NBR	C	0.04%
ATRO	F	0.04%
UFCS	B	0.04%
HSTM	B	0.04%
PBI	C	0.04%
AIOT	B	0.04%
INVX	C	0.04%
RES	F	0.04%
AVO	B	0.04%
KELYA	F	0.04%
CALX	F	0.04%
FOR	F	0.04%
EGY	F	0.04%
CVLT	B	0.04%
NUVB	B	0.04%
SVC	F	0.04%
CLNE	C	0.04%
IIIV	B	0.04%
EBF	C	0.04%
CCBG	B	0.04%
PL	B	0.04%
FA	D	0.04%
NYMT	C	0.04%
VREX	C	0.04%
UIS	B	0.04%
EAT	B	0.04%
HLIO	C	0.04%
NRIX	B	0.04%
MSBI	B	0.04%
NFBK	B	0.04%
FSBC	B	0.04%
MCS	A	0.04%
LFST	B	0.04%
TRTX	B	0.04%
FPI	B	0.04%
GMRE	F	0.04%
WLDN	C	0.04%
ERAS	C	0.04%
PAYO	B	0.04%
AMRK	F	0.04%
SWBI	D	0.04%
SXI	B	0.04%
GSBC	B	0.04%
ORC	D	0.04%
ITRI	B	0.04%
AROW	B	0.04%
STGW	B	0.04%
AMRC	F	0.04%
NVRI	F	0.04%
DFIN	D	0.04%
ACCO	B	0.04%
THFF	A	0.04%
DHC	F	0.04%
HIPO	B	0.04%
AHCO	F	0.04%
BLMN	F	0.04%
WLFC	C	0.04%
CSTL	C	0.04%
REX	C	0.04%
HTBI	B	0.04%
FMNB	B	0.04%
FIGS	F	0.04%
NAPA	A	0.04%
BHB	B	0.04%
CCNE	B	0.04%
GOOD	B	0.04%
NR	C	0.04%
SCHL	F	0.04%
VICR	C	0.04%
ARIS	B	0.04%
RLAY	F	0.04%
INDI	C	0.04%
HPP	F	0.04%
MCBS	B	0.04%
JELD	F	0.04%
SMBK	B	0.04%
PACB	F	0.04%
AOSL	D	0.04%
ATRC	C	0.04%
NAT	F	0.04%
HTBK	B	0.04%
SFIX	B	0.03%
REVG	B	0.03%
CCCC	F	0.03%
STRO	D	0.03%
CNSL	C	0.03%
TRC	F	0.03%
UTZ	F	0.03%
TRUE	C	0.03%
MCFT	B	0.03%
BOC	D	0.03%
AKBA	C	0.03%
OABI	D	0.03%
MGY	B	0.03%
LGTY	B	0.03%
WOOF	D	0.03%
PAHC	B	0.03%
GTN	F	0.03%
OLMA	F	0.03%
CTS	C	0.03%
ZUMZ	C	0.03%
HBCP	B	0.03%
TWI	F	0.03%
EBTC	B	0.03%
NPK	B	0.03%
NECB	B	0.03%
LEU	C	0.03%
GLUE	C	0.03%
AVBP	C	0.03%
SD	D	0.03%
MTW	C	0.03%
APLT	C	0.03%
USAP	B	0.03%
RBBN	B	0.03%
FUBO	C	0.03%
ACRE	B	0.03%
LXFR	B	0.03%
FBIZ	B	0.03%
CVGW	C	0.03%
CVLG	B	0.03%
PRIM	B	0.03%
RMR	F	0.03%
HYLN	B	0.03%
ZIMV	F	0.03%
TERN	F	0.03%
ALLO	D	0.03%
XPER	F	0.03%
ADV	F	0.03%
FRPH	B	0.03%
HTZ	C	0.03%
BCAL	B	0.03%
FLGT	F	0.03%
WTBA	B	0.03%
ACNB	B	0.03%
MLAB	F	0.03%
GLRE	C	0.03%
TCBX	B	0.03%
NWPX	B	0.03%
VRDN	C	0.03%
HOUS	F	0.03%
CLFD	F	0.03%
IVR	D	0.03%
KIDS	F	0.03%
FMAO	B	0.03%
LAND	F	0.03%
BALY	A	0.03%
BMRC	A	0.03%
DDD	D	0.03%
BSRR	B	0.03%
SLRN	D	0.03%
FISI	B	0.03%
GMS	B	0.03%
LENZ	B	0.03%
LINC	B	0.03%
HCAT	B	0.03%
CIFR	C	0.03%
AZZ	B	0.03%
TIPT	B	0.03%
VERV	D	0.03%
SEI	B	0.03%
PHAT	F	0.03%
MNKD	C	0.03%
YORW	F	0.03%
RBB	A	0.03%
NRIM	A	0.03%
SHBI	A	0.03%
CLDT	B	0.03%
CMPR	C	0.03%
TK	D	0.03%
CARE	B	0.03%
CCSI	B	0.03%
USNA	C	0.03%
BECN	B	0.03%
TWKS	B	0.03%
CTO	B	0.03%
NCMI	D	0.03%
IRWD	D	0.03%
LMNR	C	0.03%
UVE	B	0.03%
DIN	C	0.03%
KIND	C	0.03%
RGR	F	0.03%
SHYF	C	0.03%
QTRX	D	0.03%
KRNY	B	0.03%
MDXG	A	0.03%
DAKT	B	0.03%
GDOT	C	0.03%
EE	B	0.03%
ARKO	D	0.03%
HIFS	B	0.03%
CHCT	C	0.03%
FFIC	B	0.03%
SPFI	B	0.03%
ALRS	C	0.03%
WAY	B	0.03%
CLBK	B	0.03%
ORIC	D	0.03%
EVGO	C	0.03%
OLP	B	0.03%
RUSHB	B	0.03%
LAUR	B	0.03%
LPG	D	0.03%
EVRI	A	0.03%
NLOP	B	0.03%
CCO	C	0.03%
LASR	D	0.03%
LAB	D	0.03%
LESL	D	0.02%
RGTI	B	0.02%
INBK	B	0.02%
CIO	F	0.02%
ASUR	D	0.02%
WEYS	B	0.02%
ONIT	C	0.02%
NRGV	C	0.02%
ENTA	F	0.02%
BHR	B	0.02%
SRRK	C	0.02%
HNST	B	0.02%
PTON	C	0.02%
CBL	B	0.02%
HDSN	F	0.02%
RMAX	D	0.02%
BRT	B	0.02%
ZNTL	C	0.02%
FREY	B	0.02%
PCYO	B	0.02%
PINE	D	0.02%
DGICA	A	0.02%
BE	B	0.02%
GSAT	B	0.02%
CRBU	D	0.02%
DH	D	0.02%
PYXS	B	0.02%
LOB	B	0.02%
GCO	B	0.02%
ISTR	B	0.02%
FVCB	B	0.02%
ATNI	F	0.02%
LE	C	0.02%
NVTS	F	0.02%
REI	F	0.02%
AMPS	C	0.02%
ULH	B	0.02%
INST	B	0.02%
RNGR	A	0.02%
DJCO	B	0.02%
SWIM	D	0.02%
OLPX	D	0.02%
IDT	B	0.02%
LILA	F	0.02%
ONL	D	0.02%
AMRX	B	0.02%
BLFY	B	0.02%
NWFL	B	0.02%
TSVT	F	0.02%
PCB	B	0.02%
FATE	F	0.02%
ALDX	F	0.02%
TBI	F	0.02%
MBCN	C	0.02%
TG	C	0.02%
CRMT	F	0.02%
CRSR	C	0.02%
JAKK	C	0.02%
RM	D	0.02%
AGM	B	0.02%
BRY	F	0.02%
PLBC	A	0.02%
MQ	F	0.02%
RLGT	C	0.02%
APEI	B	0.02%
GDYN	C	0.02%
ITOS	F	0.02%
HY	F	0.02%
IHRT	B	0.02%
TSBK	B	0.02%
ALT	C	0.02%
VECO	F	0.02%
ATLC	A	0.02%
PDLB	B	0.02%
CDXS	C	0.02%
MVBF	B	0.02%
ILPT	F	0.02%
TRN	B	0.02%
VPG	F	0.02%
EDIT	F	0.02%
NKTR	D	0.02%
LUNR	B	0.02%
NGVC	B	0.02%
FDBC	B	0.02%
TLS	D	0.02%
AMPY	B	0.02%
PKBK	A	0.02%
MLNK	C	0.02%
FRST	B	0.02%
CYH	F	0.02%
WSBF	C	0.02%
REFI	A	0.02%
INGN	B	0.02%
HNRG	A	0.02%
CPS	C	0.02%
AVIR	F	0.02%
ANGO	C	0.02%
IMMR	F	0.02%
OOMA	B	0.02%
VLGEA	B	0.02%
AMCX	C	0.02%
AORT	C	0.02%
ODC	C	0.02%
QTTB	D	0.02%
LMND	B	0.02%
APLD	D	0.02%
RRBI	A	0.02%
ZWS	B	0.02%
HLF	C	0.02%
WOW	B	0.02%
CZFS	B	0.02%
FLXS	C	0.02%
HRTG	C	0.02%
CBNK	B	0.02%
OUST	C	0.02%
BVS	C	0.02%
CWCO	F	0.02%
NVAX	F	0.02%
FLIC	B	0.02%
SMRT	F	0.02%
RGP	D	0.02%
LEGH	D	0.02%
VNDA	B	0.02%
BYON	F	0.02%
SSBK	B	0.02%
MOV	C	0.02%
PKOH	B	0.02%
SAVE	F	0.02%
AQST	C	0.02%
ONEW	D	0.02%
THRD	C	0.02%
COFS	B	0.02%
IIIN	C	0.02%
SENEA	B	0.02%
ALNT	C	0.02%
AUPH	B	0.02%
GOGO	C	0.02%
IPI	C	0.02%
CBAN	B	0.02%
OSUR	F	0.02%
TITN	C	0.02%
PLPC	B	0.02%
GNTY	A	0.02%
FNLC	B	0.02%
BCML	B	0.02%
SPOK	B	0.02%
ACMR	D	0.02%
JMSB	B	0.02%
PRTA	F	0.02%
ESPR	C	0.02%
MLYS	D	0.02%
CZNC	B	0.02%
CLDX	F	0.02%
KRRO	D	0.02%
EYPT	C	0.02%
HTLD	B	0.02%
ITIC	B	0.02%
OLO	B	0.02%
VRTS	B	0.02%
BWB	B	0.02%
BJRI	B	0.02%
ENS	D	0.02%
GRNT	B	0.02%
ANIP	C	0.02%
SLQT	C	0.02%
DCGO	B	0.02%
CENT	C	0.02%
HVT	F	0.02%
TBPH	B	0.02%
OBT	B	0.02%
NUS	C	0.02%
REPX	A	0.02%
OIS	B	0.02%
FSBW	B	0.02%
SNCY	B	0.02%
NGNE	C	0.02%
HBT	B	0.02%
LOCO	C	0.02%
VYGR	D	0.02%
FRBA	C	0.02%
CCRN	F	0.02%
DVAX	B	0.02%
CWBC	B	0.02%
NEWT	B	0.02%
KODK	D	0.02%
MTRX	B	0.02%
SNBR	F	0.02%
NOVA	F	0.02%
OXM	D	0.02%
SFST	B	0.02%
TCMD	B	0.02%
UNTY	B	0.02%
MEI	F	0.02%
SAGE	F	0.02%
MXCT	F	0.02%
FFWM	B	0.02%
CIVB	B	0.02%
PFIS	B	0.02%
EHAB	D	0.02%
FNKO	D	0.02%
CYRX	D	0.01%
MXL	C	0.01%
HLLY	F	0.01%
EEX	D	0.01%
LCUT	F	0.01%
INNV	C	0.01%
IVVD	F	0.01%
ARHS	F	0.01%
ARTV	F	0.01%
TRVI	F	0.01%
ESQ	B	0.01%
EVCM	C	0.01%
PFMT	D	0.01%
CRBP	F	0.01%
CRDF	C	0.01%
ULBI	F	0.01%
TCRX	D	0.01%
LFMD	C	0.01%
CBUS	D	0.01%
RIGL	B	0.01%
AOMR	D	0.01%
BLUE	F	0.01%
SUNS	B	0.01%
NNE	B	0.01%
CVGI	F	0.01%
TUSK	F	0.01%
SKYE	C	0.01%
CAPR	C	0.01%
MASS	F	0.01%
CVI	F	0.01%
ATXS	F	0.01%
INBX	C	0.01%
WALD	F	0.01%
PBYI	C	0.01%
OBIO	C	0.01%
MODV	D	0.01%
DIBS	F	0.01%
RAPT	F	0.01%
MGTX	B	0.01%
SIGA	F	0.01%
RMBL	C	0.01%
FHTX	C	0.01%
BLNK	F	0.01%
ABSI	F	0.01%
GCMG	B	0.01%
LXRX	F	0.01%
DAWN	D	0.01%
CTOS	B	0.01%
TTEC	F	0.01%
WBTN	F	0.01%
UHT	D	0.01%
PLOW	C	0.01%
ADCT	F	0.01%
CPSS	C	0.01%
CGEM	F	0.01%
XOMA	C	0.01%
SVRA	F	0.01%
CEVA	B	0.01%
CCB	A	0.01%
RMNI	C	0.01%
AVAH	B	0.01%
DENN	C	0.01%
RCKY	F	0.01%
QSI	F	0.01%
AEVA	C	0.01%
MVIS	F	0.01%
BLFS	C	0.01%
SMMT	D	0.01%
RAPP	C	0.01%
EPM	B	0.01%
ACRV	C	0.01%
URGN	F	0.01%
CASS	B	0.01%
POWW	F	0.01%
QUAD	C	0.01%
GYRE	C	0.01%
COOK	D	0.01%
SPCE	F	0.01%
TNYA	D	0.01%
PAL	F	0.01%
SBT	C	0.01%
GRWG	F	0.01%
VHI	C	0.01%
GBIO	F	0.01%
MCW	C	0.01%
BBSI	B	0.01%
PGEN	F	0.01%
BKSY	C	0.01%
III	C	0.01%
REAL	B	0.01%
NAUT	F	0.01%
CATX	F	0.01%
NODK	B	0.01%
FRGE	F	0.01%
PNRG	A	0.01%
CTGO	F	0.01%
SIBN	D	0.01%
GNE	F	0.01%
MYFW	B	0.01%
NC	C	0.01%
FULC	F	0.01%
PX	B	0.01%
CTRN	D	0.01%
FCEL	B	0.01%
CLAR	D	0.01%
CMT	D	0.01%
AMTX	C	0.01%
CSV	B	0.01%
EVC	B	0.01%
GRPN	F	0.01%
TBBK	B	0.01%
TPIC	F	0.01%
HEAR	C	0.01%
SEZL	B	0.01%
BH	B	0.01%
SLDB	F	0.01%
BBCP	F	0.01%
PEBK	B	0.01%
VTYX	F	0.01%
BOOM	F	0.01%
ABOS	D	0.01%
VRA	C	0.01%
HFFG	C	0.01%
LFCR	B	0.01%
NREF	B	0.01%
CRNC	D	0.01%
TWIN	D	0.01%
TTSH	D	0.01%
MYPS	C	0.01%
ESCA	B	0.01%
TPB	B	0.01%
NATR	B	0.01%
PTLO	F	0.01%
PBFS	B	0.01%
GBTG	A	0.01%
PRKS	B	0.01%
OSIS	B	0.01%
MRSN	C	0.01%
PKE	B	0.01%
AVD	C	0.01%
APPS	F	0.01%
FDMT	F	0.01%
CON	D	0.01%
RDW	B	0.01%
STRS	B	0.01%
PLL	C	0.01%
XBIT	D	0.01%
CABA	F	0.01%
EML	F	0.01%
SSP	F	0.01%
INO	F	0.01%
DXLG	C	0.01%
WULF	C	0.01%
LIND	B	0.01%
FFNW	D	0.01%
LNKB	B	0.01%
ACDC	C	0.01%
PSTX	B	0.01%
HEES	B	0.01%
JOUT	F	0.01%
FLL	D	0.01%
BKD	F	0.01%
GEOS	B	0.01%
OMER	B	0.01%
KOD	B	0.01%
RSVR	B	0.01%
SAMG	A	0.01%
ADVM	D	0.01%
FF	D	0.01%
LYTS	B	0.01%
PAR	B	0.01%
VIRC	C	0.01%
WOR	F	0.01%
SMHI	F	0.01%
MHLD	D	0.01%
AFCG	F	0.01%
ARQ	B	0.01%
GPMT	C	0.01%
ATLO	C	0.01%
ATOS	C	0.01%
STHO	F	0.01%
NNBR	C	0.01%
PSTL	C	0.01%
ALTI	C	0.01%
RGCO	C	0.01%
AVNW	F	0.01%
ACTG	F	0.01%
SSTK	D	0.01%
ACCD	F	0.01%
CHMG	A	0.01%
IBEX	B	0.01%
NKTX	F	0.01%
CHGG	D	0.01%
USCB	B	0.01%
PVBC	C	0.01%
ALCO	F	0.01%
CMPX	C	0.01%
FLWS	D	0.01%
ESSA	B	0.01%
HBB	F	0.01%
DSGN	C	0.01%
MFIN	B	0.01%
SONO	C	0.01%
BOW	B	0.01%
SLDP	F	0.01%
BELFA	C	0.01%
ASLE	C	0.01%
NVRO	F	0.01%
FET	D	0.01%
ONTF	C	0.01%
HOFT	B	0.01%
BSVN	B	0.01%
ZVRA	A	0.01%
ANIK	D	0.01%
HRTX	F	0.01%
NPWR	B	0.01%
LSEA	F	0.01%
BARK	C	0.01%
SRDX	D	0.01%
EU	F	0.01%
ACIC	C	0.01%
SEVN	C	0.01%
MITT	D	0.01%
RELL	B	0.01%
RXT	C	0.01%
SRI	F	0.01%
IBRX	C	0.01%
CTV	D	0.01%
MGNI	A	0.01%
MEC	D	0.01%
NKSH	B	0.01%
UTMD	D	0.01%
CHPT	F	0.01%
RICK	B	0.01%
IRBT	F	0.01%
WVE	B	0.01%
FORR	D	0.01%
VEL	B	0.01%
LYEL	D	0.01%
OVLY	B	0.01%
SGC	B	0.01%
OB	B	0.01%
MG	F	0.01%
BCBP	B	0.01%
LOVE	B	0.01%
GPRO	D	0.01%
MBI	B	0.01%
MED	D	0.01%
FSP	C	0.01%
FSTR	B	0.01%
INZY	F	0.01%
NXDT	F	0.01%
NGS	B	0.01%
BWFG	A	0.01%
VABK	B	0.01%
BPRN	B	0.01%
FSLY	D	0.01%
TFIN	B	0.01%
ADEA	C	0.01%
JRVR	F	0.01%
ORN	B	0.01%
HMST	D	0.01%
GENC	C	0.01%
ORGO	B	0.01%
VYX	B	0.01%
DBI	F	0.01%
LCNB	B	0.01%
BLDE	C	0.01%
PANL	F	0.01%
HPK	D	0.01%
CDT	F	0.0%
SMXT	C	0.0%
MGX	F	0.0%
BTMD	B	0.0%
TELO	F	0.0%
LVO	F	0.0%
SVCO	F	0.0%
MOND	F	0.0%
BOLD	D	0.0%
PEPG	F	0.0%
RENB	D	0.0%
LXEO	F	0.0%
REKR	F	0.0%
STXS	D	0.0%
ELEV	F	0.0%
SSTI	F	0.0%
HQI	B	0.0%
JILL	C	0.0%
RDZN	F	0.0%
DTI	D	0.0%
EVI	D	0.0%
BRCC	F	0.0%
TVGN	D	0.0%
STTK	F	0.0%
ARAY	D	0.0%
IGMS	F	0.0%
EWCZ	D	0.0%
PRLD	F	0.0%
MLP	C	0.0%
CLPR	C	0.0%
AKA	D	0.0%
ARL	F	0.0%
GALT	C	0.0%
VCSA	D	0.0%
MKTW	F	0.0%
VERU	F	0.0%
CELC	D	0.0%
MRAM	D	0.0%
CTLP	B	0.0%
GUTS	F	0.0%
GOEV	F	0.0%
DMRC	C	0.0%
ABUS	D	0.0%
OPAD	C	0.0%
BAER	C	0.0%
EB	C	0.0%
SLND	F	0.0%
DTC	F	0.0%
TCI	F	0.0%
KYTX	F	0.0%
ANRO	F	0.0%
ATEX	F	0.0%
OTLK	D	0.0%
LAZR	C	0.0%
MPX	C	0.0%
TREE	D	0.0%
DLHC	F	0.0%
SNDA	F	0.0%
BDTX	F	0.0%
PROK	D	0.0%
WRLD	C	0.0%
SES	F	0.0%
CDMO	B	0.0%
MGNX	D	0.0%
CTNM	B	0.0%
HLVX	D	0.0%
BBAI	C	0.0%
GOCO	B	0.0%
HOWL	F	0.0%
PRPL	F	0.0%
DSGR	B	0.0%
ARCT	F	0.0%
CMPO	C	0.0%
SCLX	F	0.0%
BFS	C	0.0%
EAF	B	0.0%
STEM	F	0.0%
ACHR	B	0.0%
CRCT	F	0.0%
ARDT	D	0.0%
ACHV	F	0.0%
BAND	C	0.0%
LIF	C	0.0%
ELVN	C	0.0%
DC	D	0.0%
LAW	D	0.0%
TDUP	C	0.0%
IPSC	F	0.0%
DHIL	A	0.0%
NL	C	0.0%
HCKT	B	0.0%
SWKH	F	0.0%
CRMD	B	0.0%
TLYS	F	0.0%
CHRS	F	0.0%
ALMS	D	0.0%
RGLS	F	0.0%
OSPN	B	0.0%
AGEN	F	0.0%
HBIO	F	0.0%
QBTS	B	0.0%
COGT	D	0.0%

IWN Underweight 70 Positions Relative to FMAT

Symbol	Grade	Weight
LIN	D	-15.16%
SHW	A	-6.26%
FCX	F	-4.73%
APD	B	-4.71%
ECL	C	-4.29%
NEM	F	-3.53%
CTVA	C	-2.77%
NUE	D	-2.62%
VMC	B	-2.6%
MLM	B	-2.58%
DD	D	-2.45%
DOW	F	-2.33%
PPG	F	-2.0%
SW	B	-1.88%
IFF	F	-1.57%
LYB	F	-1.54%
STLD	C	-1.5%
PKG	B	-1.46%
IP	B	-1.31%
BALL	D	-1.26%
RS	C	-1.25%
RPM	A	-1.17%
AVY	F	-1.12%
CF	B	-1.05%
AMCR	D	-1.0%
EMN	D	-0.82%
ALB	C	-0.8%
ATR	A	-0.78%
CCK	D	-0.76%
AA	C	-0.73%
EXP	B	-0.71%
RGLD	C	-0.66%
CE	F	-0.66%
X	D	-0.64%
MOS	D	-0.62%
GPK	D	-0.6%
AXTA	A	-0.59%
CRS	B	-0.56%
BERY	D	-0.52%
FMC	F	-0.51%
LPX	A	-0.48%
ATI	F	-0.48%
CLF	F	-0.45%
ESI	B	-0.45%
CBT	C	-0.44%
BCPC	B	-0.39%
KNF	C	-0.37%
WLK	F	-0.36%
OLN	F	-0.35%
SON	F	-0.34%
SEE	C	-0.34%
SLGN	B	-0.31%
NEU	C	-0.27%
ASH	F	-0.26%
HUN	F	-0.24%
CC	C	-0.21%
SMG	D	-0.21%
AMR	C	-0.18%
KWR	C	-0.17%
MP	C	-0.17%
HWKN	C	-0.16%
USLM	B	-0.11%
NGVT	B	-0.11%
CENX	B	-0.08%
OEC	D	-0.07%
GATO	C	-0.05%
IE	C	-0.05%
MYE	F	-0.03%
MERC	F	-0.02%
METC	C	-0.02%