IWR vs. FAB ETF Comparison

Comparison of iShares Russell Mid-Cap ETF (IWR) to First Trust Multi Cap Value AlphaDEX Fund (FAB)

IWR

iShares Russell Mid-Cap ETF

IWR Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities. 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 the mid-capitalization sector of the U.S. equity market. The underlying index is a float-adjusted, capitalization-weighted index of the 800 smallest issuers in the Russell 1000Â® Index.

Grade (RS Rating)

Last Trade

$94.53

Average Daily Volume

1,461,787

Number of Holdings ^*

803

* may have additional holdings in another (foreign) market

FAB

First Trust Multi Cap Value AlphaDEX Fund

FAB Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Multi Cap Value Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Composite 1500(R) Value Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$88.95

Average Daily Volume

2,527

Number of Holdings ^*

665

* may have additional holdings in another (foreign) market

Performance

Period	IWR	FAB
30 Days	6.87%	6.40%
60 Days	7.84%	5.80%
90 Days	9.96%	6.32%
12 Months	34.02%	27.56%

295 Overlapping Holdings

Symbol	Grade	Weight in IWR	Weight in FAB	Overlap
AAP	C	0.02%	0.18%	0.02%
ADM	D	0.21%	0.38%	0.21%
AEE	A	0.2%	0.36%	0.2%
AFG	A	0.08%	0.05%	0.05%
AFL	B	0.51%	0.25%	0.25%
AGCO	D	0.05%	0.08%	0.05%
AGO	B	0.04%	0.25%	0.04%
AIZ	A	0.09%	0.09%	0.09%
AKAM	D	0.11%	0.22%	0.11%
AL	B	0.04%	0.23%	0.04%
ALK	C	0.06%	0.15%	0.06%
ALLY	C	0.08%	0.36%	0.08%
AMG	B	0.05%	0.23%	0.05%
AMKR	D	0.02%	0.15%	0.02%
AN	C	0.03%	0.12%	0.03%
APA	D	0.07%	0.2%	0.07%
APTV	D	0.12%	0.33%	0.12%
AR	B	0.07%	0.09%	0.07%
ARE	D	0.15%	0.16%	0.15%
ARW	D	0.05%	0.15%	0.05%
ASH	D	0.03%	0.12%	0.03%
ATO	A	0.18%	0.36%	0.18%
AVT	C	0.04%	0.17%	0.04%
AWK	D	0.22%	0.08%	0.08%
AXS	A	0.06%	0.14%	0.06%
BBWI	D	0.06%	0.17%	0.06%
BBY	D	0.16%	0.23%	0.16%
BC	C	0.04%	0.12%	0.04%
BEN	C	0.05%	0.18%	0.05%
BERY	B	0.06%	0.14%	0.06%
BG	F	0.1%	0.4%	0.1%
BHF	B	0.03%	0.03%	0.03%
BIIB	F	0.19%	0.22%	0.19%
BJ	A	0.1%	0.05%	0.05%
BKR	B	0.35%	0.3%	0.3%
BLDR	D	0.17%	0.24%	0.17%
BOKF	B	0.02%	0.09%	0.02%
BPOP	B	0.06%	0.04%	0.04%
BWA	D	0.06%	0.2%	0.06%
BYD	C	0.04%	0.15%	0.04%
CAG	D	0.1%	0.07%	0.07%
CAR	C	0.01%	0.06%	0.01%
CC	C	0.02%	0.02%	0.02%
CE	F	0.07%	0.24%	0.07%
CF	B	0.13%	0.35%	0.13%
CFG	B	0.17%	0.4%	0.17%
CHRD	D	0.07%	0.22%	0.07%
CHTR	C	0.3%	0.31%	0.3%
CINF	A	0.19%	0.48%	0.19%
CIVI	D	0.04%	0.22%	0.04%
CLF	F	0.04%	0.15%	0.04%
CLX	B	0.17%	0.09%	0.09%
CMA	A	0.07%	0.1%	0.07%
CMI	A	0.41%	0.1%	0.1%
CMS	C	0.17%	0.17%	0.17%
CNC	D	0.25%	0.27%	0.25%
CNP	B	0.16%	0.36%	0.16%
CNXC	F	0.01%	0.17%	0.01%
COLB	A	0.05%	0.15%	0.05%
COLM	B	0.02%	0.09%	0.02%
CPB	D	0.07%	0.08%	0.07%
CRI	D	0.02%	0.06%	0.02%
CRL	C	0.08%	0.09%	0.08%
CTRA	B	0.16%	0.46%	0.16%
CTSH	B	0.32%	0.37%	0.32%
CTVA	C	0.32%	0.08%	0.08%
CUZ	B	0.04%	0.09%	0.04%
CWEN	C	0.01%	0.02%	0.01%
CWEN	C	0.02%	0.02%	0.02%
CXT	B	0.02%	0.05%	0.02%
CZR	F	0.07%	0.04%	0.04%
DAL	C	0.34%	0.56%	0.34%
DAR	C	0.06%	0.19%	0.06%
DD	D	0.28%	0.08%	0.08%
DDS	B	0.01%	0.19%	0.01%
DG	F	0.14%	0.32%	0.14%
DGX	A	0.15%	0.26%	0.15%
DHI	D	0.39%	0.3%	0.3%
DINO	D	0.05%	0.21%	0.05%
DNB	B	0.03%	0.05%	0.03%
DOC	D	0.12%	0.16%	0.12%
DOW	F	0.26%	0.21%	0.21%
DRI	B	0.16%	0.18%	0.16%
DTE	C	0.2%	0.24%	0.2%
DVN	F	0.2%	0.44%	0.2%
DXC	B	0.03%	0.18%	0.03%
EBAY	D	0.26%	0.24%	0.24%
ED	D	0.28%	0.32%	0.28%
EG	C	0.13%	0.41%	0.13%
EIX	B	0.26%	0.16%	0.16%
EMN	D	0.1%	0.12%	0.1%
ENOV	C	0.02%	0.05%	0.02%
EPAM	C	0.11%	0.05%	0.05%
EQR	B	0.23%	0.25%	0.23%
EQT	B	0.21%	0.41%	0.21%
ETR	B	0.26%	0.39%	0.26%
EVRG	A	0.12%	0.17%	0.12%
EXC	C	0.32%	0.33%	0.32%
EXPD	D	0.14%	0.08%	0.08%
FAF	A	0.05%	0.04%	0.04%
FANG	D	0.27%	0.37%	0.27%
FBIN	D	0.08%	0.04%	0.04%
FE	C	0.2%	0.16%	0.16%
FHB	A	0.03%	0.06%	0.03%
FHN	A	0.09%	0.17%	0.09%
FITB	A	0.26%	0.28%	0.26%
FIVE	F	0.04%	0.09%	0.04%
FMC	D	0.06%	0.18%	0.06%
FNB	A	0.05%	0.15%	0.05%
FNF	B	0.13%	0.17%	0.13%
FOXA	B	0.09%	0.49%	0.09%
FTV	C	0.22%	0.08%	0.08%
G	B	0.06%	0.2%	0.06%
GIS	D	0.29%	0.15%	0.15%
GL	B	0.08%	0.13%	0.08%
GO	C	0.01%	0.05%	0.01%
GPC	D	0.14%	0.15%	0.14%
GXO	B	0.06%	0.05%	0.05%
HAL	C	0.22%	0.45%	0.22%
HAYW	B	0.02%	0.03%	0.02%
HBAN	A	0.21%	0.42%	0.21%
HIG	B	0.28%	0.35%	0.28%
HII	D	0.06%	0.1%	0.06%
HIW	D	0.03%	0.09%	0.03%
HOG	D	0.03%	0.18%	0.03%
HOLX	D	0.15%	0.08%	0.08%
HPE	B	0.23%	0.46%	0.23%
HPQ	B	0.3%	0.18%	0.18%
HRL	D	0.07%	0.24%	0.07%
HSIC	B	0.07%	0.04%	0.04%
HST	C	0.1%	0.17%	0.1%
HSY	F	0.21%	0.16%	0.16%
HUM	C	0.27%	0.16%	0.16%
IAC	D	0.03%	0.04%	0.03%
IDA	A	0.05%	0.1%	0.05%
IEX	B	0.14%	0.09%	0.09%
INGR	B	0.08%	0.14%	0.08%
IP	B	0.16%	0.3%	0.16%
IPG	D	0.08%	0.08%	0.08%
IPGP	D	0.02%	0.07%	0.02%
IVZ	B	0.05%	0.04%	0.04%
J	F	0.14%	0.09%	0.09%
JAZZ	B	0.06%	0.19%	0.06%
JBHT	C	0.12%	0.19%	0.12%
JBL	B	0.12%	0.14%	0.12%
JEF	A	0.11%	0.05%	0.05%
JWN	C	0.02%	0.09%	0.02%
KEY	B	0.15%	0.2%	0.15%
KEYS	A	0.21%	0.08%	0.08%
KIM	A	0.14%	0.19%	0.14%
KMI	A	0.44%	0.42%	0.42%
KNX	B	0.07%	0.09%	0.07%
KR	B	0.32%	0.36%	0.32%
KRC	C	0.04%	0.18%	0.04%
KSS	F	0.02%	0.11%	0.02%
L	A	0.12%	0.37%	0.12%
LAD	A	0.08%	0.2%	0.08%
LBRDK	C	0.08%	0.2%	0.08%
LEA	D	0.04%	0.19%	0.04%
LEN	D	0.01%	0.4%	0.01%
LEN	D	0.33%	0.4%	0.33%
LFUS	F	0.05%	0.04%	0.04%
LH	C	0.16%	0.09%	0.09%
LHX	C	0.38%	0.09%	0.09%
LKQ	D	0.08%	0.13%	0.08%
LNC	B	0.04%	0.19%	0.04%
LNG	B	0.4%	0.41%	0.4%
LNT	A	0.13%	0.25%	0.13%
LPX	B	0.06%	0.09%	0.06%
LSTR	D	0.05%	0.04%	0.04%
LUV	C	0.16%	0.28%	0.16%
LYB	F	0.18%	0.38%	0.18%
M	D	0.04%	0.17%	0.04%
MAA	B	0.15%	0.08%	0.08%
MAS	D	0.14%	0.08%	0.08%
MAT	D	0.05%	0.04%	0.04%
MDU	D	0.03%	0.16%	0.03%
MGM	D	0.07%	0.04%	0.04%
MIDD	C	0.06%	0.08%	0.06%
MOH	F	0.14%	0.16%	0.14%
MOS	F	0.07%	0.17%	0.07%
MSM	C	0.03%	0.09%	0.03%
MTB	A	0.29%	0.31%	0.29%
MTDR	B	0.06%	0.26%	0.06%
MTG	C	0.05%	0.21%	0.05%
MUSA	A	0.08%	0.05%	0.05%
NDSN	B	0.12%	0.08%	0.08%
NFE	D	0.0%	0.22%	0.0%
NFG	A	0.05%	0.17%	0.05%
NI	A	0.14%	0.27%	0.14%
NOV	C	0.05%	0.22%	0.05%
NUE	C	0.29%	0.43%	0.29%
NVR	D	0.21%	0.17%	0.17%
NWSA	B	0.09%	0.19%	0.09%
NXST	C	0.04%	0.13%	0.04%
OC	A	0.14%	0.39%	0.14%
ODFL	B	0.35%	0.1%	0.1%
OGE	B	0.07%	0.13%	0.07%
OGN	D	0.03%	0.1%	0.03%
OKE	A	0.53%	0.21%	0.21%
OLN	D	0.04%	0.11%	0.04%
OMC	C	0.15%	0.09%	0.09%
OMF	A	0.05%	0.15%	0.05%
ON	D	0.23%	0.32%	0.23%
ORI	A	0.08%	0.09%	0.08%
OSK	B	0.06%	0.24%	0.06%
OVV	B	0.1%	0.25%	0.1%
OZK	B	0.04%	0.19%	0.04%
PAG	B	0.02%	0.13%	0.02%
PB	A	0.06%	0.1%	0.06%
PFG	D	0.16%	0.09%	0.09%
PFGC	B	0.11%	0.05%	0.05%
PHM	D	0.22%	0.39%	0.22%
PII	D	0.03%	0.1%	0.03%
PINC	B	0.02%	0.14%	0.02%
PK	B	0.02%	0.13%	0.02%
PKG	A	0.17%	0.19%	0.17%
PNFP	B	0.08%	0.05%	0.05%
PNW	B	0.09%	0.18%	0.09%
POST	C	0.04%	0.12%	0.04%
PPG	F	0.24%	0.16%	0.16%
PPL	B	0.21%	0.26%	0.21%
PRGO	B	0.03%	0.04%	0.03%
PRU	A	0.38%	0.18%	0.18%
PVH	C	0.05%	0.22%	0.05%
R	B	0.06%	0.2%	0.06%
REYN	D	0.01%	0.08%	0.01%
RF	A	0.2%	0.29%	0.2%
RGA	A	0.13%	0.18%	0.13%
RHI	B	0.06%	0.05%	0.05%
RJF	A	0.25%	0.23%	0.23%
RNR	C	0.11%	0.2%	0.11%
RRC	B	0.07%	0.19%	0.07%
RS	B	0.15%	0.47%	0.15%
RYN	D	0.04%	0.04%	0.04%
SAM	C	0.02%	0.03%	0.02%
SEB	F	0.01%	0.11%	0.01%
SEE	C	0.04%	0.04%	0.04%
SEIC	B	0.07%	0.1%	0.07%
SJM	D	0.09%	0.12%	0.09%
SKX	D	0.07%	0.08%	0.07%
SLGN	A	0.04%	0.09%	0.04%
SLM	A	0.04%	0.09%	0.04%
SNA	A	0.15%	0.32%	0.15%
SNDR	B	0.01%	0.08%	0.01%
SNX	C	0.07%	0.12%	0.07%
SOLV	C	0.08%	0.17%	0.08%
SON	D	0.04%	0.12%	0.04%
SPB	C	0.02%	0.07%	0.02%
SSNC	B	0.13%	0.17%	0.13%
STLD	B	0.17%	0.48%	0.17%
STT	A	0.24%	0.27%	0.24%
STWD	C	0.05%	0.04%	0.04%
SWKS	F	0.11%	0.3%	0.11%
SYF	B	0.21%	0.57%	0.21%
SYY	B	0.31%	0.24%	0.24%
TAP	C	0.09%	0.23%	0.09%
TDY	B	0.18%	0.28%	0.18%
THO	B	0.05%	0.13%	0.05%
TKR	D	0.04%	0.08%	0.04%
TOL	B	0.13%	0.43%	0.13%
TPR	B	0.11%	0.05%	0.05%
TROW	B	0.21%	0.48%	0.21%
TSN	B	0.15%	0.19%	0.15%
TTC	D	0.07%	0.04%	0.04%
TXT	D	0.13%	0.25%	0.13%
UAL	A	0.25%	0.7%	0.25%
UGI	A	0.04%	0.2%	0.04%
UHAL	D	0.0%	0.07%	0.0%
UHAL	D	0.05%	0.07%	0.05%
UHS	D	0.1%	0.15%	0.1%
ULTA	F	0.14%	0.25%	0.14%
UNM	A	0.1%	0.21%	0.1%
VAC	B	0.03%	0.13%	0.03%
VNT	B	0.05%	0.1%	0.05%
VOYA	B	0.07%	0.04%	0.04%
VSTS	C	0.02%	0.09%	0.02%
VTRS	A	0.13%	0.38%	0.13%
WAL	B	0.08%	0.05%	0.05%
WBS	A	0.09%	0.17%	0.09%
WCC	B	0.07%	0.16%	0.07%
WEC	A	0.26%	0.17%	0.17%
WHR	B	0.05%	0.14%	0.05%
WLK	D	0.03%	0.15%	0.03%
WPC	D	0.1%	0.08%	0.08%
WRB	A	0.15%	0.09%	0.09%
WTFC	A	0.07%	0.1%	0.07%
WTRG	B	0.08%	0.09%	0.08%
WU	D	0.02%	0.11%	0.02%
WY	D	0.19%	0.08%	0.08%
XEL	A	0.32%	0.37%	0.32%
YETI	C	0.03%	0.05%	0.03%
ZBH	C	0.19%	0.35%	0.19%
ZION	B	0.07%	0.16%	0.07%
ZM	B	0.18%	0.21%	0.18%

IWR Overweight 508 Positions Relative to FAB

Symbol	Grade	Weight
PLTR	B	1.09%
APP	B	0.63%
WMB	A	0.57%
AJG	B	0.52%
COIN	C	0.5%
HLT	A	0.5%
BK	A	0.48%
DLR	B	0.48%
SPG	B	0.48%
URI	B	0.46%
AMP	A	0.46%
RCL	A	0.45%
MSTR	C	0.44%
FICO	B	0.44%
ALL	A	0.43%
TTD	B	0.43%
GWW	B	0.42%
O	D	0.41%
FIS	C	0.41%
VST	B	0.4%
FAST	B	0.39%
SQ	B	0.39%
PWR	A	0.39%
MSCI	C	0.38%
KVUE	A	0.38%
PAYX	C	0.38%
ROST	C	0.38%
PEG	A	0.37%
AME	A	0.37%
PCG	A	0.37%
CCI	D	0.37%
HWM	A	0.37%
EA	A	0.36%
VRT	B	0.36%
DFS	B	0.36%
AXON	A	0.35%
TRGP	B	0.35%
IR	B	0.34%
CBRE	B	0.33%
COR	B	0.33%
VRSK	A	0.33%
OTIS	C	0.33%
FERG	B	0.33%
HES	B	0.33%
IT	C	0.32%
GEHC	F	0.31%
A	D	0.31%
YUM	B	0.31%
DDOG	A	0.31%
ACGL	D	0.3%
VMC	B	0.3%
IDXX	F	0.29%
IQV	D	0.29%
GLW	B	0.29%
MLM	B	0.29%
IRM	D	0.28%
WAB	B	0.28%
RMD	C	0.28%
EXR	D	0.28%
GRMN	B	0.27%
NDAQ	A	0.27%
AVB	B	0.27%
ROK	B	0.27%
VICI	C	0.27%
HUBS	A	0.27%
MCHP	D	0.27%
VEEV	C	0.26%
WTW	B	0.26%
DXCM	D	0.25%
EFX	F	0.25%
ARES	A	0.25%
TTWO	A	0.25%
CSGP	D	0.24%
CAH	B	0.24%
ANSS	B	0.24%
XYL	D	0.24%
GPN	B	0.24%
TSCO	D	0.24%
ALNY	D	0.24%
DOV	A	0.23%
CPNG	D	0.23%
BRO	B	0.22%
FCNCA	A	0.22%
CHD	B	0.22%
SW	A	0.22%
DECK	A	0.22%
BR	A	0.22%
NET	B	0.22%
MPWR	F	0.22%
MTD	D	0.21%
TYL	B	0.21%
VLTO	D	0.21%
TPL	A	0.21%
VTR	C	0.21%
GDDY	A	0.21%
RBLX	C	0.21%
CVNA	B	0.21%
SBAC	D	0.2%
CDW	F	0.2%
NTAP	C	0.2%
CCL	B	0.2%
CPAY	A	0.2%
PTC	A	0.19%
WST	C	0.19%
EXPE	B	0.19%
EME	C	0.19%
LPLA	A	0.19%
HUBB	B	0.19%
NTRS	A	0.18%
HOOD	B	0.18%
ILMN	D	0.18%
EXE	B	0.18%
STE	F	0.18%
LDOS	C	0.18%
ES	D	0.18%
MKL	A	0.18%
IFF	D	0.18%
WBD	C	0.18%
FSLR	F	0.17%
LYV	A	0.17%
WDC	D	0.17%
CSL	C	0.17%
INVH	D	0.17%
CBOE	B	0.17%
WAT	B	0.17%
K	A	0.17%
IBKR	A	0.16%
NRG	B	0.16%
BAH	F	0.16%
ESS	B	0.16%
COO	D	0.16%
LII	A	0.16%
ZBRA	B	0.16%
MDB	C	0.16%
WSO	A	0.15%
DKNG	B	0.15%
TOST	B	0.15%
PODD	C	0.15%
FDS	B	0.15%
ZS	C	0.15%
TRU	D	0.15%
MKC	D	0.15%
BALL	D	0.15%
TWLO	A	0.14%
NTRA	B	0.14%
WSM	B	0.14%
XPO	B	0.14%
MANH	D	0.14%
ALGN	D	0.14%
FWONK	B	0.14%
NTNX	A	0.14%
LVS	C	0.14%
PINS	D	0.14%
HEI	B	0.14%
BURL	A	0.14%
TRMB	B	0.14%
RPM	A	0.14%
PNR	A	0.14%
VRSN	F	0.13%
DT	C	0.13%
SUI	D	0.13%
FIX	A	0.13%
GWRE	A	0.13%
AVY	D	0.13%
UTHR	C	0.13%
MRO	B	0.13%
TER	D	0.13%
DOCU	A	0.13%
GEN	B	0.13%
BAX	D	0.13%
ROL	B	0.12%
SOFI	A	0.12%
AVTR	F	0.12%
EQH	B	0.12%
EWBC	A	0.12%
ACM	A	0.12%
UDR	B	0.12%
AMCR	D	0.12%
ENTG	D	0.12%
USFD	A	0.12%
THC	D	0.12%
PSTG	D	0.12%
CASY	A	0.12%
DPZ	C	0.12%
TW	A	0.12%
GGG	B	0.12%
CHRW	C	0.11%
GLPI	C	0.11%
DLTR	F	0.11%
AFRM	B	0.11%
ELS	C	0.11%
SWK	D	0.11%
TXRH	C	0.11%
POOL	C	0.11%
RVTY	F	0.11%
REG	B	0.11%
CW	B	0.11%
SAIA	B	0.11%
FFIV	B	0.11%
BWXT	B	0.1%
Z	A	0.1%
NBIX	C	0.1%
OKTA	C	0.1%
JNPR	F	0.1%
HEI	B	0.1%
NVT	B	0.1%
BMRN	D	0.1%
SCI	B	0.1%
FTI	A	0.1%
INCY	C	0.1%
ALB	C	0.1%
ALLE	D	0.1%
KMX	B	0.1%
BXP	D	0.1%
CPT	B	0.1%
JLL	D	0.1%
ITT	A	0.1%
JKHY	D	0.1%
COHR	B	0.1%
CLH	B	0.1%
AMH	D	0.1%
PRI	A	0.09%
CACI	D	0.09%
TECH	D	0.09%
CCK	C	0.09%
GNRC	B	0.09%
CTLT	B	0.09%
CAVA	B	0.09%
EVR	B	0.09%
FND	C	0.09%
CUBE	D	0.09%
LW	C	0.09%
LAMR	D	0.09%
BLD	D	0.09%
ATR	B	0.09%
CG	A	0.09%
TTEK	F	0.09%
AA	B	0.09%
DKS	C	0.09%
PAYC	B	0.09%
DAY	B	0.09%
RRX	B	0.09%
DUOL	A	0.09%
NCLH	B	0.09%
LECO	B	0.09%
OWL	A	0.09%
SF	B	0.09%
TFX	F	0.08%
AAON	B	0.08%
TPX	B	0.08%
GMED	A	0.08%
DCI	B	0.08%
SMCI	F	0.08%
WMS	D	0.08%
RGLD	C	0.08%
WYNN	D	0.08%
WING	D	0.08%
FRT	B	0.08%
BRBR	A	0.08%
TKO	B	0.08%
SRPT	D	0.08%
AAL	B	0.08%
CNH	C	0.08%
DOX	D	0.08%
CIEN	B	0.08%
MKTX	D	0.08%
PR	B	0.08%
HLI	B	0.08%
CHDN	B	0.08%
ARMK	B	0.08%
EHC	B	0.08%
DTM	B	0.08%
NLY	C	0.08%
OHI	C	0.08%
AES	F	0.08%
EXEL	B	0.08%
GME	C	0.08%
EXP	A	0.08%
AYI	B	0.08%
RPRX	D	0.08%
ALSN	B	0.08%
WWD	B	0.08%
KNSL	B	0.08%
MTCH	D	0.07%
MEDP	D	0.07%
ACI	C	0.07%
X	C	0.07%
SNV	B	0.07%
APG	B	0.07%
DVA	B	0.07%
CNM	D	0.07%
CFR	B	0.07%
PLNT	A	0.07%
CHE	D	0.07%
RIVN	F	0.07%
EGP	F	0.07%
HRB	D	0.07%
RL	B	0.07%
GPK	C	0.07%
LNW	D	0.07%
NYT	C	0.07%
MTZ	B	0.07%
CR	A	0.07%
GLOB	B	0.07%
CBSH	A	0.07%
ITCI	C	0.07%
FYBR	D	0.07%
HAS	D	0.07%
BILL	A	0.07%
AOS	F	0.07%
BRX	A	0.07%
PCTY	B	0.07%
ROKU	D	0.07%
PEN	B	0.07%
AXTA	A	0.07%
RBC	A	0.07%
EXAS	D	0.07%
MORN	B	0.07%
REXR	F	0.07%
AWI	A	0.06%
MTN	C	0.06%
H	B	0.06%
CFLT	B	0.06%
SN	D	0.06%
LSCC	D	0.06%
VMI	B	0.06%
CGNX	C	0.06%
FCN	D	0.06%
MTSI	B	0.06%
MASI	A	0.06%
ELAN	D	0.06%
FR	C	0.06%
ATI	D	0.06%
FRPT	B	0.06%
RGEN	D	0.06%
GNTX	C	0.06%
VFC	C	0.06%
ESTC	C	0.06%
ESAB	B	0.06%
MKSI	C	0.06%
AGNC	D	0.06%
GTLB	B	0.06%
VNO	B	0.06%
S	B	0.06%
COKE	C	0.06%
CART	C	0.06%
RLI	B	0.06%
RYAN	B	0.06%
WEX	D	0.06%
PCOR	B	0.06%
TREX	C	0.06%
MHK	D	0.06%
WH	B	0.06%
KEX	C	0.06%
SMAR	A	0.06%
ADC	B	0.06%
SSD	D	0.06%
OLED	D	0.06%
NNN	D	0.06%
ONTO	D	0.06%
FLS	B	0.06%
KBR	F	0.06%
ENPH	F	0.06%
LITE	B	0.05%
RITM	C	0.05%
VVV	F	0.05%
PATH	C	0.05%
OLLI	D	0.05%
BRKR	D	0.05%
FOX	A	0.05%
JHG	A	0.05%
ETSY	D	0.05%
CROX	D	0.05%
THG	A	0.05%
WFRD	D	0.05%
LAZ	B	0.05%
FOUR	B	0.05%
BFAM	D	0.05%
WBA	F	0.05%
DOCS	C	0.05%
BIO	D	0.05%
QRVO	F	0.05%
COLD	D	0.05%
SITE	D	0.05%
ESI	A	0.05%
SIRI	C	0.05%
SAIC	F	0.05%
MSA	D	0.05%
KD	B	0.05%
WSC	D	0.05%
PARA	C	0.05%
BSY	D	0.05%
ELF	C	0.05%
DBX	B	0.05%
STAG	F	0.05%
LYFT	C	0.05%
AZEK	A	0.05%
HR	C	0.05%
AZPN	A	0.05%
GAP	C	0.04%
KMPR	B	0.04%
EEFT	B	0.04%
PSN	D	0.04%
CELH	F	0.04%
LOPE	B	0.04%
RH	B	0.04%
ST	F	0.04%
HCP	B	0.04%
ROIV	C	0.04%
WTM	A	0.04%
HXL	D	0.04%
INSP	D	0.04%
BROS	B	0.04%
AM	A	0.04%
VNOM	A	0.04%
U	C	0.04%
VKTX	F	0.04%
APPF	B	0.04%
CCCS	B	0.04%
IONS	F	0.04%
TPG	A	0.04%
CRUS	D	0.04%
WEN	D	0.03%
AMTM	D	0.03%
SMG	D	0.03%
PENN	C	0.03%
ZI	D	0.03%
HUN	F	0.03%
NCNO	B	0.03%
IRDM	D	0.03%
EPR	D	0.03%
ZG	A	0.03%
ACHC	F	0.03%
NVST	B	0.03%
SPR	D	0.03%
W	F	0.03%
TNL	A	0.03%
NWS	B	0.03%
NWL	B	0.03%
XRAY	F	0.03%
NEU	C	0.03%
PEGA	A	0.03%
LINE	F	0.03%
FLO	D	0.03%
RARE	D	0.03%
CHH	A	0.03%
GFS	C	0.03%
MSGS	A	0.03%
GTES	A	0.03%
DLB	B	0.03%
UAA	C	0.02%
ALAB	B	0.02%
RKT	F	0.02%
QDEL	F	0.02%
LBTYK	A	0.02%
INFA	D	0.02%
LBTYA	B	0.02%
LCID	F	0.02%
SHC	F	0.02%
PPC	C	0.02%
ADT	C	0.02%
AZTA	D	0.02%
RCM	F	0.02%
ALGM	D	0.02%
CPRI	F	0.02%
MP	B	0.02%
HHH	B	0.02%
MPW	F	0.02%
AGR	B	0.02%
APLS	D	0.02%
COTY	F	0.02%
CACC	D	0.02%
DV	C	0.02%
FIVN	C	0.02%
TDC	D	0.02%
VIRT	B	0.02%
ECG	C	0.02%
AMED	F	0.02%
MAN	D	0.02%
RNG	B	0.02%
SNRE	D	0.02%
NSA	D	0.02%
LLYVK	A	0.02%
UWMC	D	0.01%
PLTK	B	0.01%
TFSL	A	0.01%
WOLF	F	0.01%
LOAR	A	0.01%
CNA	B	0.01%
AS	B	0.01%
CERT	F	0.01%
PYCR	C	0.01%
LLYVA	A	0.01%
UI	A	0.01%
TXG	F	0.01%
TRIP	F	0.01%
LBRDA	C	0.01%
LEG	F	0.01%
DJT	C	0.01%
QS	F	0.01%
FTRE	D	0.01%
FWONA	B	0.01%
UA	C	0.01%
CLVT	F	0.01%
BIRK	D	0.01%
PARAA	B	0.0%
SEG	B	0.0%
GRAL	C	0.0%

IWR Underweight 373 Positions Relative to FAB

Symbol	Grade	Weight
GM	B	-0.56%
PCAR	B	-0.51%
CVX	A	-0.48%
EOG	A	-0.48%
COP	C	-0.47%
F	C	-0.46%
XOM	B	-0.45%
WFC	A	-0.45%
AIG	B	-0.45%
VLO	C	-0.45%
CMCSA	B	-0.45%
T	A	-0.44%
COF	B	-0.43%
OXY	D	-0.43%
PSX	C	-0.43%
MPC	D	-0.42%
SRE	A	-0.38%
C	A	-0.38%
CVS	D	-0.38%
CRBG	B	-0.37%
INTC	D	-0.37%
FDX	B	-0.37%
SLB	C	-0.36%
CB	C	-0.35%
VZ	C	-0.32%
MS	A	-0.32%
BAC	A	-0.3%
TRV	B	-0.28%
USB	A	-0.28%
D	C	-0.25%
NOG	A	-0.25%
TGT	F	-0.25%
CNX	A	-0.25%
JXN	C	-0.24%
SM	B	-0.24%
HP	B	-0.24%
DE	A	-0.24%
DUK	C	-0.24%
STX	D	-0.23%
KHC	F	-0.23%
ATKR	C	-0.23%
PTEN	C	-0.23%
CMC	B	-0.23%
AEP	D	-0.23%
AMR	C	-0.22%
TMHC	B	-0.22%
PBF	D	-0.22%
URBN	C	-0.22%
HCC	B	-0.22%
CADE	B	-0.21%
CXW	B	-0.21%
MUR	D	-0.21%
RDN	C	-0.21%
TEX	D	-0.21%
LBRT	D	-0.2%
PNC	B	-0.2%
DIS	B	-0.2%
RIOT	C	-0.2%
MATX	C	-0.2%
RUSHA	C	-0.2%
TPH	D	-0.2%
ESNT	D	-0.19%
CSCO	B	-0.19%
MTH	D	-0.19%
CNO	A	-0.19%
MGY	A	-0.19%
MHO	D	-0.19%
OTTR	C	-0.18%
GBDC	C	-0.18%
HRI	B	-0.18%
BKH	A	-0.18%
ADTN	A	-0.18%
CSX	B	-0.18%
COOP	B	-0.18%
ASO	F	-0.18%
GPI	A	-0.18%
POR	C	-0.17%
SR	A	-0.17%
BCC	B	-0.17%
KDP	D	-0.16%
KBH	D	-0.16%
BMBL	C	-0.16%
SUM	B	-0.16%
GBX	A	-0.16%
CARR	D	-0.16%
SIG	B	-0.16%
JNJ	D	-0.16%
SANM	B	-0.15%
CTOS	C	-0.15%
ECVT	C	-0.15%
CUBI	C	-0.15%
BFH	B	-0.15%
JBT	B	-0.15%
HTZ	C	-0.15%
RIG	D	-0.14%
ELV	F	-0.14%
KMT	B	-0.14%
EIG	B	-0.14%
TALO	C	-0.14%
DNOW	B	-0.14%
ULH	B	-0.14%
ABG	B	-0.14%
GMS	B	-0.14%
TGNA	B	-0.14%
VTLE	C	-0.14%
VLY	B	-0.14%
CABO	C	-0.14%
REZI	A	-0.13%
GIII	D	-0.13%
WS	B	-0.13%
BTU	B	-0.13%
KOS	F	-0.13%
CRGY	B	-0.13%
SPNT	A	-0.13%
IART	C	-0.13%
OGS	A	-0.13%
APLE	B	-0.13%
RLJ	C	-0.13%
TDS	B	-0.13%
GT	C	-0.13%
GPOR	B	-0.13%
HELE	C	-0.13%
SWX	B	-0.13%
GEF	A	-0.13%
RES	D	-0.12%
BY	B	-0.12%
ZD	C	-0.12%
PEBO	A	-0.12%
PRDO	B	-0.12%
AVA	A	-0.12%
TRMK	B	-0.12%
EPC	D	-0.12%
VC	D	-0.12%
INDB	B	-0.12%
IMKTA	C	-0.12%
SHO	C	-0.12%
ENS	D	-0.12%
PARR	D	-0.12%
PLAB	C	-0.12%
INVA	D	-0.12%
UVV	B	-0.12%
AEO	F	-0.11%
VSH	D	-0.11%
MRC	B	-0.11%
CCS	D	-0.11%
WMK	C	-0.11%
SAH	A	-0.11%
DBRG	F	-0.11%
WKC	D	-0.11%
USM	B	-0.11%
PHIN	A	-0.11%
EBC	B	-0.11%
GHC	C	-0.11%
FOR	F	-0.11%
CAL	D	-0.11%
FFBC	A	-0.11%
NWE	B	-0.1%
CRC	B	-0.1%
ABCB	B	-0.1%
ABR	C	-0.1%
OEC	C	-0.1%
MLKN	D	-0.1%
NAVI	C	-0.1%
PRG	C	-0.1%
UBSI	B	-0.1%
EQC	B	-0.1%
NWN	A	-0.1%
LZB	B	-0.1%
BV	B	-0.1%
CENTA	C	-0.1%
HWC	B	-0.1%
LADR	B	-0.1%
BECN	B	-0.1%
SBH	C	-0.1%
GEO	B	-0.1%
CVI	F	-0.1%
HGV	B	-0.1%
SCSC	B	-0.1%
VSCO	B	-0.1%
HOV	D	-0.1%
DRH	B	-0.1%
CMCO	B	-0.1%
AMWD	C	-0.1%
GES	F	-0.1%
MLI	C	-0.1%
HD	A	-0.09%
FRME	B	-0.09%
TNET	D	-0.09%
PFBC	B	-0.09%
SBUX	A	-0.09%
UFPI	B	-0.09%
ACN	C	-0.09%
ALKS	B	-0.09%
KFY	B	-0.09%
WSBC	A	-0.09%
CATY	B	-0.09%
CRK	B	-0.09%
SASR	B	-0.09%
CASH	A	-0.09%
BNL	D	-0.09%
PDCO	D	-0.09%
PLYA	B	-0.09%
ADNT	F	-0.09%
PNM	F	-0.09%
BANR	B	-0.09%
APD	A	-0.09%
CVBF	A	-0.09%
ANDE	D	-0.09%
PYPL	B	-0.09%
ACA	A	-0.09%
BUSE	B	-0.08%
ARCB	C	-0.08%
MDLZ	F	-0.08%
MODG	F	-0.08%
WERN	C	-0.08%
WGO	C	-0.08%
MCRI	A	-0.08%
PTVE	B	-0.08%
LMT	D	-0.08%
ALG	B	-0.08%
DAN	D	-0.08%
HOPE	B	-0.08%
FIBK	A	-0.08%
CI	F	-0.08%
FCF	A	-0.08%
SRCE	B	-0.08%
HUBG	A	-0.08%
NX	C	-0.08%
XRX	F	-0.08%
LAUR	A	-0.08%
BKE	B	-0.08%
MDT	D	-0.08%
BKU	A	-0.08%
TCBK	B	-0.08%
VBTX	B	-0.08%
KALU	C	-0.08%
GD	F	-0.08%
WSFS	A	-0.08%
PEP	F	-0.08%
HY	D	-0.08%
RNST	B	-0.08%
UPS	C	-0.08%
SFNC	B	-0.08%
EFSC	B	-0.08%
VRTS	B	-0.08%
FULT	A	-0.08%
ASGN	F	-0.08%
LOW	D	-0.08%
TTMI	B	-0.07%
LC	A	-0.07%
LILAK	D	-0.07%
SJW	D	-0.07%
PEB	D	-0.07%
MRTN	C	-0.07%
UNF	B	-0.07%
NKE	D	-0.07%
KLG	C	-0.07%
DIOD	D	-0.07%
XHR	B	-0.07%
MMS	F	-0.07%
SBCF	A	-0.06%
GOGO	C	-0.06%
FBNC	A	-0.06%
CSGS	B	-0.06%
AMN	F	-0.06%
FHI	A	-0.06%
PBH	A	-0.06%
OMI	F	-0.06%
KAR	B	-0.06%
DFH	D	-0.06%
NIC	B	-0.06%
SNEX	B	-0.06%
HMN	B	-0.06%
GRBK	D	-0.06%
ASB	B	-0.06%
SCVL	F	-0.06%
VSAT	F	-0.06%
SSTK	F	-0.06%
LGIH	D	-0.06%
ROG	D	-0.05%
PATK	D	-0.05%
FLR	B	-0.05%
ALIT	C	-0.05%
DFIN	D	-0.05%
SEM	B	-0.05%
DEA	D	-0.05%
SHEN	F	-0.05%
THRM	D	-0.05%
LCII	C	-0.05%
SSB	B	-0.05%
PSMT	C	-0.05%
UCB	A	-0.05%
SYNA	C	-0.05%
AUB	B	-0.05%
OFG	B	-0.05%
SCL	C	-0.05%
ARI	C	-0.05%
ALEX	C	-0.05%
LNN	B	-0.05%
KWR	C	-0.05%
HTH	B	-0.05%
STBA	B	-0.05%
UMBF	B	-0.05%
DK	C	-0.05%
ROCK	C	-0.05%
ABM	B	-0.05%
MTX	B	-0.05%
WAFD	B	-0.05%
TOWN	B	-0.05%
HLF	C	-0.05%
IOSP	B	-0.05%
BHE	B	-0.05%
NWBI	B	-0.05%
UPWK	B	-0.04%
MYRG	B	-0.04%
NSP	D	-0.04%
FOXF	F	-0.04%
AVNS	F	-0.04%
WD	D	-0.04%
FUL	F	-0.04%
ODP	F	-0.04%
NJR	A	-0.04%
AVNT	B	-0.04%
FELE	B	-0.04%
SKY	A	-0.04%
WTS	B	-0.04%
AIR	B	-0.03%
SAFT	C	-0.03%
MTRN	C	-0.03%
XPEL	C	-0.03%
DEI	B	-0.03%
HLIO	B	-0.03%
GNW	A	-0.03%
IVT	B	-0.03%
CVCO	A	-0.03%
PPBI	B	-0.03%
ROIC	A	-0.03%
NBTB	B	-0.03%
FDP	B	-0.03%
BHLB	B	-0.03%
PFS	B	-0.03%
CBU	B	-0.03%
FBK	B	-0.03%
MCW	B	-0.03%
MGPI	F	-0.03%
TCBI	B	-0.03%
OPCH	D	-0.03%
OLPX	D	-0.02%
BLMN	F	-0.02%
PLUS	F	-0.02%
GIC	D	-0.02%
GPRE	F	-0.02%
JBGS	D	-0.02%
OXM	D	-0.02%
SHOO	D	-0.02%
AIN	C	-0.02%
MSGE	F	-0.02%
LXP	D	-0.02%
RC	D	-0.02%
CMTG	F	-0.02%
SHLS	F	-0.02%
CNXN	C	-0.02%
NVEE	F	-0.02%
KFRC	D	-0.02%
NNI	D	-0.02%
STC	B	-0.02%
NMRK	B	-0.02%
CNMD	C	-0.02%
OI	C	-0.02%
MSEX	B	-0.02%
UPBD	B	-0.02%
EVTC	B	-0.02%
PGRE	F	-0.02%