IWR vs. FAD ETF Comparison

Comparison of iShares Russell Mid-Cap ETF (IWR) to First Trust MuFirst Trust Multi CG AlphaDEX (FAD)

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 1000® Index.

Grade (RS Rating)

Last Trade

$94.46

Average Daily Volume

1,460,358

Number of Holdings ^*

803

* may have additional holdings in another (foreign) market

FAD

First Trust MuFirst Trust Multi CG AlphaDEX

FAD 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 Growth 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) Growth 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

$148.28

Average Daily Volume

4,276

Number of Holdings ^*

640

* may have additional holdings in another (foreign) market

Performance

Period	IWR	FAD
30 Days	5.29%	7.67%
60 Days	7.26%	10.52%
90 Days	8.75%	13.20%
12 Months	32.54%	42.08%

242 Overlapping Holdings

	Symbol	Grade	Weight in IWR	Weight in FAD	Overlap
	A	D	0.31%	0.07%	0.07%
	AAON	B	0.08%	0.2%	0.08%
	ACGL	C	0.3%	0.37%	0.3%
	ADC	A	0.06%	0.17%	0.06%
	AES	F	0.08%	0.09%	0.08%
	AFRM	A	0.11%	0.32%	0.11%
	AGNC	C	0.06%	0.08%	0.06%
	AJG	A	0.52%	0.26%	0.26%
	ALL	A	0.43%	0.44%	0.43%
	ALLE	C	0.1%	0.12%	0.1%
	ALNY	D	0.24%	0.29%	0.24%
	ALSN	B	0.08%	0.25%	0.08%
	AM	A	0.04%	0.04%	0.04%
	AMP	A	0.46%	0.41%	0.41%
	AOS	F	0.07%	0.07%	0.07%
	APP	B	0.63%	0.96%	0.63%
	APPF	B	0.04%	0.04%	0.04%
	ARES	A	0.25%	0.18%	0.18%
	ATI	C	0.06%	0.18%	0.06%
	ATR	B	0.09%	0.09%	0.09%
	AVB	B	0.27%	0.08%	0.08%
	AWI	A	0.06%	0.15%	0.06%
	AXON	A	0.35%	0.63%	0.35%
	AXTA	B	0.07%	0.09%	0.07%
	AYI	B	0.08%	0.15%	0.08%
	AZEK	A	0.05%	0.12%	0.05%
	AZTA	D	0.02%	0.02%	0.02%
	BAH	F	0.16%	0.29%	0.16%
	BFAM	D	0.05%	0.16%	0.05%
	BK	A	0.48%	0.46%	0.46%
	BLD	D	0.09%	0.15%	0.09%
	BR	A	0.22%	0.26%	0.22%
	BRBR	A	0.08%	0.15%	0.08%
	BRKR	D	0.05%	0.03%	0.03%
	BRO	B	0.22%	0.36%	0.22%
	BRX	A	0.07%	0.09%	0.07%
	BURL	B	0.14%	0.44%	0.14%
	BWXT	B	0.1%	0.15%	0.1%
	CACI	D	0.09%	0.18%	0.09%
	CASY	A	0.12%	0.27%	0.12%
	CBOE	C	0.17%	0.17%	0.17%
	CBSH	B	0.07%	0.1%	0.07%
	CCI	C	0.37%	0.07%	0.07%
	CCL	A	0.2%	0.45%	0.2%
	CFR	B	0.07%	0.1%	0.07%
	CHD	A	0.22%	0.09%	0.09%
	CHDN	B	0.08%	0.09%	0.08%
	CHE	D	0.07%	0.04%	0.04%
	CHH	A	0.03%	0.05%	0.03%
	CLH	C	0.1%	0.13%	0.1%
	CNM	D	0.07%	0.04%	0.04%
	COHR	B	0.1%	0.22%	0.1%
	COIN	C	0.5%	0.31%	0.31%
	COKE	C	0.06%	0.19%	0.06%
	CPAY	A	0.2%	0.2%	0.2%
	CPNG	D	0.23%	0.42%	0.23%
	CPT	B	0.1%	0.08%	0.08%
	CROX	D	0.05%	0.08%	0.05%
	CRUS	D	0.04%	0.1%	0.04%
	CSL	C	0.17%	0.24%	0.17%
	CUBE	C	0.09%	0.08%	0.08%
	CVNA	B	0.21%	0.59%	0.21%
	CW	C	0.11%	0.22%	0.11%
	DAY	B	0.09%	0.05%	0.05%
	DBX	B	0.05%	0.09%	0.05%
	DCI	B	0.08%	0.04%	0.04%
	DECK	A	0.22%	0.27%	0.22%
	DKNG	B	0.15%	0.09%	0.09%
	DKS	D	0.09%	0.12%	0.09%
	DLR	B	0.48%	0.09%	0.09%
	DOCS	C	0.05%	0.14%	0.05%
	DOCU	B	0.13%	0.16%	0.13%
	DOV	A	0.23%	0.18%	0.18%
	DT	D	0.13%	0.12%	0.12%
	DTM	A	0.08%	0.11%	0.08%
	DUOL	A	0.09%	0.23%	0.09%
	DVA	C	0.07%	0.2%	0.07%
	EEFT	B	0.04%	0.09%	0.04%
	EFX	F	0.25%	0.21%	0.21%
	EGP	D	0.07%	0.04%	0.04%
	EHC	B	0.08%	0.17%	0.08%
	ELAN	D	0.06%	0.04%	0.04%
	EME	A	0.19%	0.49%	0.19%
	EPR	C	0.03%	0.04%	0.03%
	ESAB	C	0.06%	0.1%	0.06%
	ESI	B	0.05%	0.04%	0.04%
	ESS	B	0.16%	0.08%	0.08%
	EWBC	A	0.12%	0.21%	0.12%
	EXEL	B	0.08%	0.22%	0.08%
	EXP	B	0.08%	0.17%	0.08%
	EXPE	B	0.19%	0.51%	0.19%
	EXR	C	0.28%	0.15%	0.15%
	FAST	B	0.39%	0.09%	0.09%
	FCN	F	0.06%	0.07%	0.06%
	FCNCA	A	0.22%	0.4%	0.22%
	FFIV	B	0.11%	0.14%	0.11%
	FICO	B	0.44%	0.49%	0.44%
	FIX	A	0.13%	0.24%	0.13%
	FLS	B	0.06%	0.14%	0.06%
	FND	D	0.09%	0.07%	0.07%
	FOUR	A	0.05%	0.24%	0.05%
	FR	D	0.06%	0.04%	0.04%
	FRPT	A	0.06%	0.18%	0.06%
	FSLR	F	0.17%	0.33%	0.17%
	GAP	C	0.04%	0.08%	0.04%
	GDDY	A	0.21%	0.5%	0.21%
	GEN	B	0.13%	0.36%	0.13%
	GLPI	C	0.11%	0.08%	0.08%
	GME	C	0.08%	0.1%	0.08%
	GMED	A	0.08%	0.19%	0.08%
	GPK	C	0.07%	0.08%	0.07%
	GPN	B	0.24%	0.09%	0.09%
	GRMN	B	0.27%	0.4%	0.27%
	GWRE	A	0.13%	0.18%	0.13%
	GWW	B	0.42%	0.28%	0.28%
	H	B	0.06%	0.04%	0.04%
	HEI	A	0.1%	0.44%	0.1%
	HEI	A	0.14%	0.44%	0.14%
	HLI	A	0.08%	0.19%	0.08%
	HLT	A	0.5%	0.27%	0.27%
	HOOD	B	0.18%	0.5%	0.18%
	HRB	D	0.07%	0.16%	0.07%
	HUBB	B	0.19%	0.26%	0.19%
	HWM	A	0.37%	0.48%	0.37%
	IBKR	A	0.16%	0.22%	0.16%
	INSP	D	0.04%	0.1%	0.04%
	IR	B	0.34%	0.17%	0.17%
	IRDM	D	0.03%	0.02%	0.02%
	IRM	C	0.28%	0.41%	0.28%
	IT	C	0.32%	0.17%	0.17%
	ITCI	C	0.07%	0.09%	0.07%
	ITT	A	0.1%	0.17%	0.1%
	KD	B	0.05%	0.05%	0.05%
	KEX	B	0.06%	0.17%	0.06%
	KNSL	B	0.08%	0.08%	0.08%
	LAMR	C	0.09%	0.08%	0.08%
	LCID	F	0.02%	0.03%	0.02%
	LII	A	0.16%	0.35%	0.16%
	LITE	B	0.05%	0.09%	0.05%
	LNW	F	0.07%	0.04%	0.04%
	LOPE	C	0.04%	0.05%	0.04%
	LPLA	A	0.19%	0.11%	0.11%
	LVS	B	0.14%	0.24%	0.14%
	LYFT	C	0.05%	0.06%	0.05%
	LYV	A	0.17%	0.41%	0.17%
	MANH	D	0.14%	0.24%	0.14%
	MASI	B	0.06%	0.05%	0.05%
	MEDP	D	0.07%	0.04%	0.04%
	MKL	A	0.18%	0.09%	0.09%
	MKTX	D	0.08%	0.09%	0.08%
	MORN	B	0.07%	0.04%	0.04%
	MPWR	F	0.22%	0.11%	0.11%
	MSCI	C	0.38%	0.08%	0.08%
	MSGS	A	0.03%	0.09%	0.03%
	MSTR	B	0.44%	0.19%	0.19%
	MTCH	D	0.07%	0.1%	0.07%
	MTD	F	0.21%	0.06%	0.06%
	NCLH	B	0.09%	0.16%	0.09%
	NDAQ	A	0.27%	0.27%	0.27%
	NEU	D	0.03%	0.04%	0.03%
	NNN	C	0.06%	0.04%	0.04%
	NRG	B	0.16%	0.43%	0.16%
	NSA	C	0.02%	0.06%	0.02%
	NTAP	C	0.2%	0.24%	0.2%
	NTNX	B	0.14%	0.05%	0.05%
	NTRA	A	0.14%	0.25%	0.14%
	NTRS	A	0.18%	0.41%	0.18%
	NYT	D	0.07%	0.12%	0.07%
	O	C	0.41%	0.15%	0.15%
	OHI	C	0.08%	0.12%	0.08%
	OLLI	D	0.05%	0.12%	0.05%
	OTIS	C	0.33%	0.16%	0.16%
	OWL	A	0.09%	0.05%	0.05%
	PAYC	B	0.09%	0.05%	0.05%
	PAYX	B	0.38%	0.09%	0.09%
	PCG	A	0.37%	0.36%	0.36%
	PCTY	C	0.07%	0.1%	0.07%
	PEG	A	0.37%	0.34%	0.34%
	PEGA	B	0.03%	0.19%	0.03%
	PLNT	A	0.07%	0.15%	0.07%
	PLTR	B	1.09%	0.69%	0.69%
	PODD	C	0.15%	0.19%	0.15%
	PRI	B	0.09%	0.14%	0.09%
	PSN	D	0.04%	0.19%	0.04%
	PWR	A	0.39%	0.46%	0.39%
	RARE	F	0.03%	0.1%	0.03%
	RBC	A	0.07%	0.04%	0.04%
	RBLX	C	0.21%	0.39%	0.21%
	RCL	A	0.45%	0.55%	0.45%
	REG	A	0.11%	0.09%	0.09%
	RGLD	C	0.08%	0.04%	0.04%
	RIVN	F	0.07%	0.15%	0.07%
	RL	C	0.07%	0.18%	0.07%
	RLI	A	0.06%	0.09%	0.06%
	RMD	C	0.28%	0.33%	0.28%
	RNG	C	0.02%	0.08%	0.02%
	ROIV	C	0.04%	0.04%	0.04%
	ROL	B	0.12%	0.17%	0.12%
	ROST	D	0.38%	0.16%	0.16%
	RYAN	A	0.06%	0.13%	0.06%
	S	B	0.06%	0.14%	0.06%
	SBAC	D	0.2%	0.08%	0.08%
	SCI	B	0.1%	0.14%	0.1%
	SMG	C	0.03%	0.14%	0.03%
	SOFI	B	0.12%	0.3%	0.12%
	SPG	A	0.48%	0.18%	0.18%
	SSD	F	0.06%	0.04%	0.04%
	TECH	F	0.09%	0.03%	0.03%
	THC	D	0.12%	0.39%	0.12%
	TKO	A	0.08%	0.17%	0.08%
	TNL	A	0.03%	0.06%	0.03%
	TOST	B	0.15%	0.23%	0.15%
	TPG	A	0.04%	0.19%	0.04%
	TPL	A	0.21%	0.39%	0.21%
	TRGP	A	0.35%	0.57%	0.35%
	TRMB	B	0.14%	0.05%	0.05%
	TSCO	D	0.24%	0.23%	0.23%
	TTD	B	0.43%	0.26%	0.26%
	TTEK	F	0.09%	0.18%	0.09%
	TW	A	0.12%	0.13%	0.12%
	TXRH	B	0.11%	0.18%	0.11%
	TYL	B	0.21%	0.25%	0.21%
	U	C	0.04%	0.03%	0.03%
	UDR	B	0.12%	0.04%	0.04%
	URI	C	0.46%	0.43%	0.43%
	UTHR	C	0.13%	0.42%	0.13%
	VICI	C	0.27%	0.16%	0.16%
	VLTO	C	0.21%	0.23%	0.21%
	VRT	B	0.36%	0.52%	0.36%
	VST	A	0.4%	0.52%	0.4%
	VTR	B	0.21%	0.42%	0.21%
	WAB	B	0.28%	0.45%	0.28%
	WAT	C	0.17%	0.08%	0.08%
	WEN	D	0.03%	0.02%	0.02%
	WING	D	0.08%	0.1%	0.08%
	WMB	A	0.57%	0.21%	0.21%
	WSM	C	0.14%	0.15%	0.14%
	WSO	A	0.15%	0.26%	0.15%
	WTM	A	0.04%	0.09%	0.04%
	WWD	C	0.08%	0.12%	0.08%
	WYNN	C	0.08%	0.12%	0.08%
	XYL	D	0.24%	0.22%	0.22%

IWR Overweight 561 Positions Relative to FAD

	Symbol	Grade	Weight
	OKE	A	0.53%
	AFL	B	0.51%
	KMI	A	0.44%
	CMI	A	0.41%
	FIS	C	0.41%
	LNG	A	0.4%
	SQ	A	0.39%
	DHI	F	0.39%
	KVUE	A	0.38%
	PRU	A	0.38%
	LHX	C	0.38%
	AME	A	0.37%
	EA	A	0.36%
	DFS	B	0.36%
	ODFL	C	0.35%
	BKR	A	0.35%
	DAL	B	0.34%
	CBRE	B	0.33%
	COR	B	0.33%
	VRSK	A	0.33%
	LEN	D	0.33%
	FERG	B	0.33%
	HES	B	0.33%
	CTSH	B	0.32%
	KR	B	0.32%
	CTVA	C	0.32%
	XEL	A	0.32%
	EXC	C	0.32%
	GEHC	D	0.31%
	SYY	D	0.31%
	YUM	D	0.31%
	DDOG	A	0.31%
	HPQ	B	0.3%
	CHTR	C	0.3%
	VMC	B	0.3%
	IDXX	F	0.29%
	IQV	F	0.29%
	NUE	C	0.29%
	GIS	D	0.29%
	GLW	B	0.29%
	MTB	A	0.29%
	MLM	C	0.29%
	ED	C	0.28%
	DD	C	0.28%
	HIG	B	0.28%
	ROK	C	0.27%
	HUBS	A	0.27%
	HUM	C	0.27%
	FANG	C	0.27%
	MCHP	F	0.27%
	DOW	F	0.26%
	WEC	A	0.26%
	EBAY	D	0.26%
	VEEV	C	0.26%
	ETR	B	0.26%
	EIX	B	0.26%
	WTW	B	0.26%
	FITB	B	0.26%
	UAL	A	0.25%
	CNC	D	0.25%
	DXCM	C	0.25%
	RJF	A	0.25%
	TTWO	A	0.25%
	PPG	F	0.24%
	STT	B	0.24%
	CSGP	D	0.24%
	CAH	B	0.24%
	ANSS	B	0.24%
	HPE	B	0.23%
	EQR	C	0.23%
	ON	D	0.23%
	HAL	C	0.22%
	AWK	C	0.22%
	FTV	C	0.22%
	PHM	D	0.22%
	SW	A	0.22%
	NET	B	0.22%
	PPL	A	0.21%
	HSY	F	0.21%
	EQT	B	0.21%
	ADM	D	0.21%
	HBAN	A	0.21%
	SYF	B	0.21%
	NVR	D	0.21%
	TROW	B	0.21%
	KEYS	A	0.21%
	CDW	F	0.2%
	FE	C	0.2%
	DVN	F	0.2%
	RF	A	0.2%
	AEE	A	0.2%
	DTE	C	0.2%
	PTC	B	0.19%
	WY	F	0.19%
	WST	C	0.19%
	ZBH	C	0.19%
	BIIB	F	0.19%
	CINF	A	0.19%
	ZM	C	0.18%
	LYB	F	0.18%
	ILMN	C	0.18%
	EXE	A	0.18%
	STE	D	0.18%
	LDOS	C	0.18%
	ES	C	0.18%
	TDY	B	0.18%
	ATO	A	0.18%
	IFF	D	0.18%
	WBD	B	0.18%
	CMS	C	0.17%
	WDC	D	0.17%
	INVH	D	0.17%
	STLD	B	0.17%
	CLX	A	0.17%
	PKG	A	0.17%
	K	A	0.17%
	CFG	B	0.17%
	BLDR	D	0.17%
	CTRA	B	0.16%
	COO	D	0.16%
	LUV	C	0.16%
	CNP	A	0.16%
	ZBRA	B	0.16%
	MDB	B	0.16%
	LH	B	0.16%
	DRI	B	0.16%
	PFG	D	0.16%
	BBY	D	0.16%
	IP	A	0.16%
	RS	B	0.15%
	KEY	B	0.15%
	DGX	A	0.15%
	WRB	A	0.15%
	HOLX	D	0.15%
	TSN	B	0.15%
	ARE	F	0.15%
	MAA	B	0.15%
	FDS	B	0.15%
	SNA	A	0.15%
	ZS	B	0.15%
	TRU	D	0.15%
	MKC	C	0.15%
	BALL	F	0.15%
	OMC	C	0.15%
	NI	A	0.14%
	KIM	A	0.14%
	TWLO	A	0.14%
	DG	F	0.14%
	XPO	B	0.14%
	OC	A	0.14%
	ALGN	D	0.14%
	FWONK	A	0.14%
	EXPD	C	0.14%
	PINS	F	0.14%
	GPC	D	0.14%
	MOH	F	0.14%
	RPM	A	0.14%
	IEX	C	0.14%
	MAS	D	0.14%
	J	D	0.14%
	PNR	A	0.14%
	ULTA	F	0.14%
	VTRS	A	0.13%
	FNF	B	0.13%
	RGA	A	0.13%
	VRSN	C	0.13%
	SUI	C	0.13%
	TOL	B	0.13%
	LNT	A	0.13%
	SSNC	B	0.13%
	AVY	F	0.13%
	CF	A	0.13%
	TXT	D	0.13%
	EG	C	0.13%
	MRO	B	0.13%
	TER	F	0.13%
	BAX	F	0.13%
	AVTR	F	0.12%
	EQH	C	0.12%
	JBL	C	0.12%
	EVRG	A	0.12%
	APTV	F	0.12%
	NDSN	B	0.12%
	ACM	B	0.12%
	DOC	C	0.12%
	AMCR	C	0.12%
	ENTG	D	0.12%
	USFD	A	0.12%
	PSTG	D	0.12%
	DPZ	C	0.12%
	JBHT	C	0.12%
	L	A	0.12%
	GGG	B	0.12%
	PFGC	B	0.11%
	CHRW	B	0.11%
	JEF	A	0.11%
	DLTR	F	0.11%
	EPAM	B	0.11%
	ELS	C	0.11%
	SWK	D	0.11%
	TPR	B	0.11%
	AKAM	D	0.11%
	RNR	C	0.11%
	SWKS	F	0.11%
	POOL	C	0.11%
	RVTY	F	0.11%
	SAIA	B	0.11%
	BJ	A	0.1%
	OVV	B	0.1%
	Z	A	0.1%
	UHS	D	0.1%
	UNM	A	0.1%
	NBIX	C	0.1%
	OKTA	C	0.1%
	EMN	C	0.1%
	JNPR	D	0.1%
	NVT	B	0.1%
	BMRN	F	0.1%
	FTI	A	0.1%
	HST	C	0.1%
	INCY	C	0.1%
	WPC	C	0.1%
	ALB	B	0.1%
	KMX	B	0.1%
	BXP	C	0.1%
	JLL	D	0.1%
	JKHY	D	0.1%
	CAG	F	0.1%
	BG	D	0.1%
	AMH	C	0.1%
	WBS	A	0.09%
	PNW	A	0.09%
	FOXA	A	0.09%
	CCK	D	0.09%
	GNRC	C	0.09%
	CTLT	C	0.09%
	CAVA	B	0.09%
	EVR	B	0.09%
	LW	C	0.09%
	NWSA	A	0.09%
	TAP	C	0.09%
	SJM	D	0.09%
	CG	B	0.09%
	AA	A	0.09%
	FHN	A	0.09%
	RRX	B	0.09%
	LECO	C	0.09%
	AIZ	A	0.09%
	SF	B	0.09%
	TFX	F	0.08%
	FBIN	D	0.08%
	TPX	B	0.08%
	SMCI	F	0.08%
	WMS	F	0.08%
	INGR	C	0.08%
	ORI	A	0.08%
	SOLV	D	0.08%
	FRT	B	0.08%
	SRPT	F	0.08%
	PNFP	B	0.08%
	AAL	B	0.08%
	CRL	D	0.08%
	CNH	C	0.08%
	DOX	D	0.08%
	CIEN	C	0.08%
	PR	B	0.08%
	GL	C	0.08%
	WTRG	B	0.08%
	WAL	B	0.08%
	LBRDK	C	0.08%
	ARMK	B	0.08%
	MUSA	B	0.08%
	NLY	C	0.08%
	AFG	A	0.08%
	ALLY	C	0.08%
	LKQ	F	0.08%
	RPRX	D	0.08%
	LAD	A	0.08%
	IPG	D	0.08%
	CHRD	D	0.07%
	RRC	B	0.07%
	ACI	C	0.07%
	X	B	0.07%
	SEIC	B	0.07%
	CZR	F	0.07%
	SKX	D	0.07%
	SNV	C	0.07%
	APG	B	0.07%
	CE	F	0.07%
	APA	D	0.07%
	VOYA	B	0.07%
	CPB	D	0.07%
	MOS	F	0.07%
	HRL	D	0.07%
	MTZ	B	0.07%
	TTC	C	0.07%
	CR	A	0.07%
	GLOB	B	0.07%
	WTFC	A	0.07%
	ZION	B	0.07%
	OGE	A	0.07%
	FYBR	C	0.07%
	HAS	D	0.07%
	BILL	A	0.07%
	CMA	B	0.07%
	MGM	D	0.07%
	SNX	D	0.07%
	ROKU	D	0.07%
	KNX	C	0.07%
	PEN	B	0.07%
	HSIC	C	0.07%
	AR	B	0.07%
	WCC	B	0.07%
	EXAS	D	0.07%
	REXR	F	0.07%
	MTN	C	0.06%
	CFLT	B	0.06%
	SN	D	0.06%
	LSCC	D	0.06%
	AXS	A	0.06%
	MTDR	B	0.06%
	VMI	B	0.06%
	FMC	D	0.06%
	DAR	C	0.06%
	ALK	B	0.06%
	CGNX	D	0.06%
	BPOP	C	0.06%
	MTSI	B	0.06%
	R	B	0.06%
	GXO	B	0.06%
	RGEN	D	0.06%
	GNTX	C	0.06%
	VFC	C	0.06%
	ESTC	C	0.06%
	MKSI	C	0.06%
	GTLB	B	0.06%
	BBWI	C	0.06%
	OSK	C	0.06%
	VNO	C	0.06%
	LPX	B	0.06%
	MIDD	C	0.06%
	CART	C	0.06%
	WEX	D	0.06%
	PCOR	B	0.06%
	PB	B	0.06%
	TREX	C	0.06%
	MHK	D	0.06%
	WH	B	0.06%
	SMAR	B	0.06%
	RHI	C	0.06%
	JAZZ	B	0.06%
	OLED	F	0.06%
	HII	F	0.06%
	BERY	C	0.06%
	ONTO	F	0.06%
	KBR	F	0.06%
	BWA	D	0.06%
	G	B	0.06%
	ENPH	F	0.06%
	RITM	C	0.05%
	VVV	D	0.05%
	PATH	C	0.05%
	NFG	A	0.05%
	THO	B	0.05%
	PVH	C	0.05%
	FOX	A	0.05%
	JHG	B	0.05%
	ETSY	D	0.05%
	AGCO	D	0.05%
	THG	A	0.05%
	VNT	C	0.05%
	AMG	B	0.05%
	LFUS	D	0.05%
	FNB	A	0.05%
	WFRD	D	0.05%
	IDA	A	0.05%
	WHR	B	0.05%
	LAZ	B	0.05%
	WBA	F	0.05%
	STWD	C	0.05%
	ARW	D	0.05%
	UHAL	D	0.05%
	BEN	C	0.05%
	BIO	C	0.05%
	QRVO	F	0.05%
	COLD	D	0.05%
	SITE	F	0.05%
	OMF	A	0.05%
	SIRI	C	0.05%
	SAIC	F	0.05%
	MAT	D	0.05%
	NOV	C	0.05%
	MSA	F	0.05%
	WSC	F	0.05%
	MTG	C	0.05%
	IVZ	B	0.05%
	PARA	C	0.05%
	COLB	B	0.05%
	LSTR	D	0.05%
	BSY	F	0.05%
	ELF	C	0.05%
	FAF	A	0.05%
	STAG	D	0.05%
	HR	B	0.05%
	DINO	D	0.05%
	AZPN	A	0.05%
	M	F	0.04%
	KMPR	A	0.04%
	RYN	D	0.04%
	SLGN	A	0.04%
	CELH	F	0.04%
	KRC	B	0.04%
	SEE	C	0.04%
	CUZ	B	0.04%
	RH	C	0.04%
	AGO	B	0.04%
	FIVE	F	0.04%
	ST	F	0.04%
	HCP	B	0.04%
	AVT	C	0.04%
	HXL	F	0.04%
	OLN	F	0.04%
	TKR	D	0.04%
	SON	F	0.04%
	BYD	B	0.04%
	NXST	C	0.04%
	UGI	C	0.04%
	AL	B	0.04%
	BROS	A	0.04%
	CIVI	D	0.04%
	OZK	B	0.04%
	VNOM	A	0.04%
	VKTX	F	0.04%
	POST	C	0.04%
	SLM	A	0.04%
	LNC	C	0.04%
	CLF	F	0.04%
	CCCS	B	0.04%
	LEA	F	0.04%
	IONS	F	0.04%
	BC	C	0.04%
	AMTM	D	0.03%
	BHF	C	0.03%
	PENN	C	0.03%
	VAC	C	0.03%
	ZI	D	0.03%
	HUN	F	0.03%
	YETI	D	0.03%
	NCNO	C	0.03%
	ZG	A	0.03%
	HIW	C	0.03%
	PII	F	0.03%
	ACHC	F	0.03%
	FHB	B	0.03%
	IAC	F	0.03%
	NVST	B	0.03%
	SPR	D	0.03%
	W	D	0.03%
	NWS	A	0.03%
	NWL	C	0.03%
	PRGO	C	0.03%
	DNB	B	0.03%
	XRAY	F	0.03%
	MDU	D	0.03%
	DXC	B	0.03%
	MSM	C	0.03%
	ASH	F	0.03%
	OGN	F	0.03%
	LINE	F	0.03%
	HOG	D	0.03%
	FLO	D	0.03%
	GFS	C	0.03%
	GTES	A	0.03%
	AN	C	0.03%
	DLB	B	0.03%
	WLK	D	0.03%
	VSTS	C	0.02%
	CRI	F	0.02%
	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	F	0.02%
	IPGP	D	0.02%
	KSS	F	0.02%
	SHC	F	0.02%
	PPC	C	0.02%
	ADT	C	0.02%
	RCM	A	0.02%
	AAP	D	0.02%
	HAYW	B	0.02%
	CWEN	C	0.02%
	JWN	D	0.02%
	PINC	B	0.02%
	ALGM	D	0.02%
	CPRI	F	0.02%
	SPB	C	0.02%
	MP	C	0.02%
	HHH	B	0.02%
	ENOV	C	0.02%
	MPW	F	0.02%
	AGR	A	0.02%
	BOKF	B	0.02%
	WU	F	0.02%
	CXT	C	0.02%
	APLS	F	0.02%
	COTY	F	0.02%
	CACC	D	0.02%
	DV	C	0.02%
	FIVN	C	0.02%
	TDC	D	0.02%
	SAM	C	0.02%
	COLM	C	0.02%
	VIRT	A	0.02%
	CC	C	0.02%
	AMKR	D	0.02%
	ECG	C	0.02%
	AMED	F	0.02%
	MAN	F	0.02%
	PAG	B	0.02%
	SNRE	D	0.02%
	LLYVK	A	0.02%
	PK	C	0.02%
	UWMC	D	0.01%
	PLTK	B	0.01%
	SEB	F	0.01%
	TFSL	A	0.01%
	WOLF	F	0.01%
	LOAR	B	0.01%
	CWEN	C	0.01%
	CNA	C	0.01%
	AS	A	0.01%
	CERT	F	0.01%
	PYCR	B	0.01%
	DDS	B	0.01%
	LLYVA	A	0.01%
	UI	B	0.01%
	TXG	F	0.01%
	SNDR	B	0.01%
	REYN	D	0.01%
	TRIP	F	0.01%
	LBRDA	C	0.01%
	LEG	F	0.01%
	DJT	C	0.01%
	GO	C	0.01%
	QS	F	0.01%
	CAR	C	0.01%
	FTRE	D	0.01%
	FWONA	A	0.01%
	UA	C	0.01%
	CLVT	D	0.01%
	LEN	D	0.01%
	BIRK	D	0.01%
	CNXC	F	0.01%
	PARAA	B	0.0%
	SEG	B	0.0%
	GRAL	B	0.0%
	UHAL	D	0.0%
	NFE	D	0.0%

IWR Underweight 399 Positions Relative to FAD

	Symbol	Grade	Weight
	DASH	B	-0.51%
	GS	A	-0.5%
	KKR	A	-0.49%
	TT	A	-0.44%
	AXP	A	-0.44%
	PGR	A	-0.43%
	FI	A	-0.4%
	TMUS	B	-0.39%
	NVDA	B	-0.39%
	JPM	A	-0.39%
	NOW	A	-0.38%
	PM	B	-0.37%
	ORCL	A	-0.37%
	MSI	B	-0.37%
	PH	A	-0.37%
	CEG	C	-0.37%
	BSX	A	-0.36%
	HCA	F	-0.35%
	COST	A	-0.35%
	CTAS	B	-0.35%
	ANET	C	-0.33%
	META	D	-0.33%
	CAT	B	-0.33%
	SHW	B	-0.33%
	IBM	C	-0.32%
	GE	D	-0.32%
	ERIE	D	-0.32%
	AVGO	D	-0.32%
	APO	B	-0.32%
	NEE	C	-0.31%
	TDG	D	-0.3%
	FTNT	C	-0.29%
	BKNG	A	-0.29%
	NFLX	A	-0.29%
	SFM	A	-0.27%
	ISRG	A	-0.27%
	WELL	A	-0.26%
	AX	B	-0.26%
	MCO	B	-0.25%
	PIPR	A	-0.25%
	TJX	A	-0.25%
	QTWO	A	-0.25%
	BRK.A	B	-0.25%
	HLNE	B	-0.24%
	CORT	B	-0.24%
	RDNT	B	-0.24%
	ECL	D	-0.24%
	RKLB	A	-0.24%
	SPGI	C	-0.24%
	SO	C	-0.24%
	ICE	C	-0.24%
	SFBS	C	-0.24%
	UBER	F	-0.23%
	PSA	C	-0.23%
	KTB	B	-0.23%
	CSWI	B	-0.23%
	CRS	B	-0.23%
	TSLA	B	-0.22%
	KNF	B	-0.22%
	ACIW	B	-0.22%
	MOG.A	B	-0.22%
	CL	D	-0.22%
	CVLT	B	-0.22%
	ITRI	C	-0.22%
	DY	D	-0.21%
	ENSG	C	-0.21%
	AMT	C	-0.21%
	IOT	A	-0.21%
	MOD	A	-0.2%
	AIT	B	-0.2%
	LTH	C	-0.2%
	ADSK	A	-0.19%
	FFIN	B	-0.19%
	MO	A	-0.19%
	HIMS	B	-0.19%
	PANW	B	-0.19%
	MAR	A	-0.19%
	EAT	A	-0.19%
	EXLS	B	-0.19%
	DELL	B	-0.19%
	MMSI	A	-0.18%
	RSG	A	-0.18%
	ORLY	B	-0.18%
	APH	A	-0.18%
	CRVL	B	-0.18%
	ETN	A	-0.18%
	SLG	B	-0.18%
	AMZN	C	-0.18%
	AAPL	C	-0.17%
	BOOT	C	-0.17%
	MMC	B	-0.17%
	AZO	C	-0.17%
	PAYO	A	-0.17%
	ANF	F	-0.17%
	ITGR	B	-0.17%
	AUR	C	-0.17%
	ROAD	B	-0.16%
	IDCC	B	-0.16%
	POWL	C	-0.16%
	IESC	C	-0.16%
	FSS	B	-0.16%
	MCD	D	-0.16%
	CBT	D	-0.16%
	BMI	B	-0.16%
	EPRT	B	-0.16%
	PRIM	A	-0.16%
	AVAV	C	-0.16%
	BCO	F	-0.16%
	CRDO	B	-0.16%
	TRUP	B	-0.15%
	KO	D	-0.15%
	AMGN	F	-0.15%
	GVA	A	-0.15%
	KAI	B	-0.15%
	LMND	B	-0.15%
	IBOC	B	-0.15%
	WWW	A	-0.15%
	TGTX	B	-0.15%
	STRL	A	-0.15%
	PI	D	-0.14%
	FTDR	B	-0.14%
	PRCT	B	-0.14%
	ZETA	D	-0.14%
	STEP	C	-0.14%
	WHD	B	-0.14%
	CNK	C	-0.14%
	LLY	F	-0.14%
	IBP	D	-0.14%
	ATGE	B	-0.14%
	PJT	A	-0.14%
	MCY	A	-0.14%
	USLM	A	-0.14%
	HOMB	A	-0.14%
	ONB	C	-0.14%
	LRN	A	-0.14%
	ENVA	B	-0.14%
	QCRH	B	-0.14%
	WULF	C	-0.14%
	LNTH	D	-0.14%
	TBBK	B	-0.13%
	BDC	C	-0.13%
	REVG	C	-0.13%
	ACLX	C	-0.13%
	GSHD	A	-0.13%
	AXSM	B	-0.13%
	BOX	B	-0.13%
	TRN	B	-0.13%
	VCYT	B	-0.13%
	CNS	B	-0.13%
	HASI	D	-0.13%
	RYTM	C	-0.13%
	CHEF	A	-0.12%
	HWKN	B	-0.12%
	ADMA	B	-0.12%
	NHC	C	-0.12%
	DSGR	C	-0.12%
	SKWD	A	-0.12%
	SLVM	B	-0.12%
	AMRX	C	-0.12%
	CALM	A	-0.12%
	SBRA	C	-0.12%
	HNI	B	-0.12%
	PBI	B	-0.12%
	SKYW	C	-0.12%
	HALO	F	-0.12%
	LMAT	A	-0.11%
	KYMR	D	-0.11%
	PTGX	D	-0.11%
	MWA	B	-0.11%
	OSW	B	-0.11%
	VRNS	D	-0.11%
	PRK	B	-0.11%
	NBHC	C	-0.11%
	PLMR	A	-0.11%
	PRM	C	-0.11%
	ALKT	B	-0.11%
	VCTR	B	-0.11%
	RNA	C	-0.11%
	INTA	B	-0.11%
	ALHC	C	-0.11%
	SYBT	B	-0.11%
	DORM	B	-0.11%
	INSM	C	-0.11%
	CWAN	B	-0.11%
	CDE	C	-0.11%
	AGIO	C	-0.11%
	PTON	A	-0.11%
	SATS	D	-0.11%
	SGBX	F	-0.11%
	OUT	A	-0.1%
	LFST	B	-0.1%
	AORT	B	-0.1%
	SMTC	B	-0.1%
	CRM	B	-0.1%
	CENX	B	-0.1%
	SABR	C	-0.1%
	RVMD	C	-0.1%
	CRWD	B	-0.1%
	CPRX	C	-0.1%
	CCOI	B	-0.1%
	PTCT	B	-0.1%
	JANX	C	-0.1%
	MIRM	B	-0.1%
	CRAI	C	-0.1%
	MNKD	C	-0.1%
	TGLS	B	-0.1%
	CHWY	B	-0.1%
	TMDX	F	-0.09%
	ORA	B	-0.09%
	IRT	A	-0.09%
	RHP	B	-0.09%
	WM	B	-0.09%
	MA	B	-0.09%
	GOOGL	C	-0.09%
	WDAY	B	-0.09%
	GKOS	B	-0.09%
	NMIH	C	-0.09%
	ADP	A	-0.09%
	SYK	B	-0.09%
	WTTR	A	-0.09%
	BCRX	D	-0.09%
	AON	A	-0.09%
	CWST	A	-0.09%
	OSCR	D	-0.09%
	VERX	A	-0.09%
	RUN	F	-0.09%
	YOU	D	-0.09%
	PRGS	A	-0.09%
	FBP	C	-0.09%
	NPAB	F	-0.09%
	BLBD	D	-0.08%
	UE	B	-0.08%
	MU	D	-0.08%
	HURN	C	-0.08%
	LIN	C	-0.08%
	CHCO	B	-0.08%
	OII	B	-0.08%
	KMB	C	-0.08%
	HRMY	D	-0.08%
	QCOM	F	-0.08%
	ESE	B	-0.08%
	SHAK	C	-0.08%
	MGNI	B	-0.08%
	VITL	D	-0.08%
	GERN	D	-0.08%
	BLKB	B	-0.08%
	PG	C	-0.08%
	CIFR	C	-0.08%
	BPMC	B	-0.08%
	CTRE	C	-0.08%
	BANF	B	-0.08%
	CAKE	C	-0.08%
	BGC	C	-0.08%
	WT	A	-0.08%
	APOG	C	-0.08%
	SITM	B	-0.08%
	VRTX	D	-0.08%
	GABC	B	-0.08%
	CARG	B	-0.08%
	SEMR	C	-0.08%
	BCPC	B	-0.08%
	CMG	B	-0.08%
	ASTH	F	-0.08%
	EQIX	A	-0.08%
	MBIN	F	-0.08%
	KRG	B	-0.08%
	UFPT	C	-0.08%
	ITW	B	-0.08%
	PMT	C	-0.07%
	KLAC	F	-0.07%
	CWT	C	-0.07%
	WRBY	A	-0.07%
	VRRM	F	-0.07%
	ESRT	C	-0.07%
	NRIX	C	-0.07%
	EXPO	D	-0.07%
	KN	B	-0.07%
	OSIS	A	-0.07%
	AAT	B	-0.07%
	COLL	F	-0.07%
	AZZ	A	-0.07%
	KTOS	B	-0.07%
	ZTS	D	-0.07%
	GFF	A	-0.07%
	IIPR	D	-0.06%
	MGEE	B	-0.06%
	DRVN	B	-0.06%
	GTLS	A	-0.06%
	AROC	A	-0.06%
	HEES	C	-0.06%
	ICFI	F	-0.06%
	BLFS	C	-0.06%
	HLIT	D	-0.06%
	CEIX	A	-0.06%
	CLSK	C	-0.06%
	FLNC	D	-0.06%
	ADUS	D	-0.06%
	ASPN	F	-0.06%
	KNTK	A	-0.06%
	IOVA	F	-0.06%
	DOCN	C	-0.06%
	AMPH	F	-0.06%
	BRC	D	-0.06%
	TWST	F	-0.06%
	NHI	D	-0.06%
	CMPR	D	-0.05%
	GTX	C	-0.05%
	AESI	B	-0.05%
	SXT	C	-0.05%
	JJSF	C	-0.05%
	IAS	C	-0.05%
	MARA	B	-0.05%
	UMH	B	-0.05%
	KW	C	-0.05%
	AIV	C	-0.05%
	SCS	C	-0.05%
	FCPT	C	-0.05%
	CDP	C	-0.05%
	SWI	C	-0.05%
	GATX	A	-0.05%
	TNDM	D	-0.05%
	OCUL	D	-0.05%
	GTY	A	-0.05%
	ARQT	B	-0.05%
	NEO	C	-0.05%
	NXRT	B	-0.05%
	CPK	A	-0.05%
	MAC	B	-0.05%
	WDFC	B	-0.05%
	ACVA	B	-0.05%
	SKT	A	-0.05%
	BANC	B	-0.05%
	GH	B	-0.05%
	AGM	B	-0.05%
	LGND	C	-0.05%
	SXI	B	-0.05%
	AGYS	A	-0.05%
	BKD	F	-0.05%
	LKFN	C	-0.05%
	EPAC	C	-0.05%
	CDRE	F	-0.04%
	HUMA	F	-0.04%
	MYGN	F	-0.04%
	PHR	F	-0.04%
	DNLI	D	-0.04%
	IPAR	B	-0.04%
	EVH	F	-0.04%
	ALX	D	-0.04%
	RXST	F	-0.04%
	ELME	D	-0.04%
	MAIN	A	-0.04%
	CRNX	C	-0.04%
	NVAX	F	-0.04%
	HLX	B	-0.04%
	ANIP	F	-0.04%
	GOLF	B	-0.04%
	MLNK	C	-0.03%
	PLAY	D	-0.03%
	APPN	B	-0.03%
	APAM	B	-0.03%
	SMPL	B	-0.03%
	ACAD	C	-0.03%
	CTS	C	-0.03%
	CARS	C	-0.03%
	WABC	B	-0.03%
	CBZ	B	-0.03%
	TDW	F	-0.03%
	SOUN	B	-0.03%
	PAR	A	-0.03%
	MIR	A	-0.03%
	TGI	B	-0.03%
	ARDX	F	-0.03%
	CLDX	F	-0.02%
	RLAY	F	-0.02%
	XPRO	D	-0.02%
	LPG	F	-0.02%
	VECO	F	-0.02%
	JAMF	F	-0.02%
	JOE	F	-0.02%
	GNL	F	-0.02%
	NSSC	D	-0.02%
	PZZA	F	-0.02%
	TNC	D	-0.02%
	FOLD	F	-0.02%
	ENVX	F	-0.02%
	RRR	F	-0.02%
	ARLO	C	-0.02%
	BXMT	C	-0.02%
	AMC	C	-0.02%
	BEAM	D	-0.02%
	FBRT	D	-0.02%
	AWR	B	-0.02%
	YELP	C	-0.02%
	THR	B	-0.02%
	STRA	C	-0.02%
	LTC	B	-0.02%
	TR	B	-0.02%
	BL	B	-0.02%
	CLB	B	-0.02%

IWR: Top Represented Industries & Keywords

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

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

FAD: Top Represented Industries & Keywords

Industries: Biotechnology Software - Application Software - Infrastructure Business Services Banks - Regional - US Diversified Industrials Asset Management REIT - Diversified REIT - Retail Specialty Chemicals Capital Markets Diagnostics & Research Building Materials Insurance - Property & Casualty Medical Devices Aerospace & Defense Engineering & Construction Restaurants Leisure REIT - Residential

Keywords: S&P 500 Real Estate Investment Trust Medicine Computing Nasdaq 100 IBD 50 Insurance Banking Bank Biopharmaceutical Aerospace Biotechnology Chemical Telecommunications Electronics Construction Natural Gas Mining Transport Cancer