IWR vs. FNDX ETF Comparison

Comparison of iShares Russell Mid-Cap ETF (IWR) to Schwab Fundamental U.S. Large Company Index ETF (FNDX)

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

$91.78

Average Daily Volume

1,432,462

Number of Holdings ^*

802

* may have additional holdings in another (foreign) market

FNDX

Schwab Fundamental U.S. Large Company Index ETF

FNDX Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Large Company Index. The index selects, ranks, and weights securities by fundamental measures of company size - adjusted sales, retained operating cash flow, and dividends plus buybacks - rather than market capitalization. Under normal circumstances, the fund will invest at least 90% of its net assets in stocks included in the index. It may invest up to 10% of its net assets in securities not included in the index.

Grade (RS Rating)

Last Trade

$24.52

Average Daily Volume

1,133,782

Number of Holdings ^*

720

* may have additional holdings in another (foreign) market

Performance

Period	IWR	FNDX
30 Days	2.87%	1.66%
60 Days	7.10%	5.55%
90 Days	9.31%	6.91%
12 Months	31.20%	29.20%

463 Overlapping Holdings

	Symbol	Grade	Weight in IWR	Weight in FNDX	Overlap
	A	F	0.32%	0.06%	0.06%
	AA	C	0.09%	0.06%	0.06%
	AAL	B	0.07%	0.01%	0.01%
	AAP	C	0.02%	0.03%	0.02%
	ACGL	C	0.3%	0.03%	0.03%
	ACI	C	0.07%	0.03%	0.03%
	ACM	B	0.12%	0.05%	0.05%
	ADM	F	0.2%	0.2%	0.2%
	AEE	B	0.19%	0.07%	0.07%
	AES	F	0.08%	0.05%	0.05%
	AFG	A	0.08%	0.04%	0.04%
	AFL	C	0.49%	0.2%	0.2%
	AGCO	F	0.05%	0.03%	0.03%
	AIZ	A	0.09%	0.03%	0.03%
	AJG	A	0.52%	0.05%	0.05%
	AKAM	F	0.11%	0.04%	0.04%
	AL	B	0.04%	0.02%	0.02%
	ALB	C	0.1%	0.03%	0.03%
	ALGN	D	0.13%	0.02%	0.02%
	ALK	A	0.05%	0.02%	0.02%
	ALL	B	0.42%	0.26%	0.26%
	ALLE	D	0.1%	0.01%	0.01%
	ALLY	C	0.08%	0.1%	0.08%
	ALSN	B	0.08%	0.05%	0.05%
	AMCR	D	0.12%	0.03%	0.03%
	AME	A	0.36%	0.05%	0.05%
	AMG	B	0.05%	0.04%	0.04%
	AMP	A	0.45%	0.14%	0.14%
	AN	C	0.03%	0.05%	0.03%
	ANSS	B	0.24%	0.02%	0.02%
	AOS	F	0.07%	0.02%	0.02%
	APA	F	0.06%	0.03%	0.03%
	APTV	F	0.12%	0.02%	0.02%
	AR	B	0.07%	0.02%	0.02%
	ARE	F	0.16%	0.03%	0.03%
	ARMK	B	0.08%	0.03%	0.03%
	ARW	F	0.05%	0.08%	0.05%
	ATO	B	0.18%	0.04%	0.04%
	ATR	A	0.09%	0.02%	0.02%
	AVB	B	0.27%	0.05%	0.05%
	AVT	C	0.04%	0.08%	0.04%
	AVTR	F	0.12%	0.02%	0.02%
	AVY	F	0.13%	0.04%	0.04%
	AWK	D	0.22%	0.04%	0.04%
	AXTA	A	0.07%	0.02%	0.02%
	AYI	A	0.08%	0.04%	0.04%
	BAH	C	0.19%	0.04%	0.04%
	BALL	D	0.15%	0.06%	0.06%
	BAX	F	0.14%	0.07%	0.07%
	BBWI	C	0.05%	0.03%	0.03%
	BBY	C	0.16%	0.16%	0.16%
	BC	D	0.05%	0.03%	0.03%
	BEN	C	0.05%	0.04%	0.04%
	BERY	D	0.06%	0.04%	0.04%
	BG	D	0.1%	0.1%	0.1%
	BIIB	F	0.2%	0.09%	0.09%
	BJ	B	0.1%	0.02%	0.02%
	BK	B	0.46%	0.26%	0.26%
	BKR	B	0.35%	0.16%	0.16%
	BLD	F	0.09%	0.01%	0.01%
	BLDR	C	0.17%	0.06%	0.06%
	BPOP	C	0.05%	0.02%	0.02%
	BR	A	0.21%	0.03%	0.03%
	BRO	B	0.22%	0.02%	0.02%
	BRX	A	0.07%	0.02%	0.02%
	BURL	C	0.14%	0.03%	0.03%
	BWA	B	0.06%	0.05%	0.05%
	BXP	D	0.11%	0.05%	0.05%
	CACI	C	0.1%	0.04%	0.04%
	CAG	F	0.11%	0.06%	0.06%
	CAH	B	0.24%	0.07%	0.07%
	CAR	C	0.01%	0.03%	0.01%
	CASY	B	0.12%	0.05%	0.05%
	CBOE	D	0.17%	0.01%	0.01%
	CBRE	B	0.34%	0.13%	0.13%
	CC	C	0.02%	0.02%	0.02%
	CCI	F	0.37%	0.09%	0.09%
	CCK	D	0.09%	0.04%	0.04%
	CCL	B	0.19%	0.06%	0.06%
	CDW	F	0.22%	0.05%	0.05%
	CE	F	0.08%	0.04%	0.04%
	CF	B	0.12%	0.07%	0.07%
	CFG	B	0.17%	0.1%	0.1%
	CG	B	0.09%	0.03%	0.03%
	CHD	A	0.21%	0.04%	0.04%
	CHE	D	0.07%	0.01%	0.01%
	CHRW	A	0.1%	0.07%	0.07%
	CHTR	B	0.3%	0.35%	0.3%
	CIEN	B	0.08%	0.03%	0.03%
	CINF	A	0.18%	0.07%	0.07%
	CLF	F	0.05%	0.04%	0.04%
	CLX	A	0.17%	0.04%	0.04%
	CMA	A	0.07%	0.07%	0.07%
	CMI	A	0.39%	0.18%	0.18%
	CMS	D	0.16%	0.06%	0.06%
	CNC	F	0.26%	0.2%	0.2%
	CNH	D	0.08%	0.02%	0.02%
	CNP	B	0.16%	0.06%	0.06%
	CNXC	F	0.02%	0.01%	0.01%
	COHR	C	0.12%	0.02%	0.02%
	COR	B	0.33%	0.03%	0.03%
	CPAY	A	0.2%	0.05%	0.05%
	CPB	F	0.07%	0.03%	0.03%
	CPRI	F	0.02%	0.02%	0.02%
	CPT	C	0.1%	0.02%	0.02%
	CRI	D	0.01%	0.01%	0.01%
	CRL	C	0.09%	0.01%	0.01%
	CSL	B	0.17%	0.05%	0.05%
	CTLT	D	0.09%	0.02%	0.02%
	CTRA	B	0.15%	0.03%	0.03%
	CTSH	A	0.32%	0.19%	0.19%
	CTVA	C	0.33%	0.09%	0.09%
	CW	C	0.12%	0.03%	0.03%
	CZR	F	0.07%	0.02%	0.02%
	DAL	A	0.32%	0.03%	0.03%
	DAR	B	0.05%	0.02%	0.02%
	DBX	B	0.05%	0.01%	0.01%
	DCI	A	0.08%	0.02%	0.02%
	DD	D	0.29%	0.18%	0.18%
	DECK	B	0.22%	0.03%	0.03%
	DFS	B	0.35%	0.26%	0.26%
	DG	F	0.14%	0.08%	0.08%
	DGX	B	0.14%	0.07%	0.07%
	DHI	D	0.41%	0.16%	0.16%
	DINO	D	0.05%	0.05%	0.05%
	DKS	D	0.09%	0.04%	0.04%
	DLR	C	0.48%	0.08%	0.08%
	DLTR	F	0.1%	0.05%	0.05%
	DOC	C	0.13%	0.04%	0.04%
	DOV	A	0.22%	0.06%	0.06%
	DOW	F	0.26%	0.2%	0.2%
	DOX	C	0.09%	0.04%	0.04%
	DPZ	C	0.13%	0.03%	0.03%
	DRI	B	0.16%	0.05%	0.05%
	DTE	D	0.2%	0.07%	0.07%
	DVA	C	0.06%	0.05%	0.05%
	DVN	F	0.2%	0.09%	0.09%
	DXC	B	0.03%	0.05%	0.03%
	EA	A	0.34%	0.09%	0.09%
	EBAY	C	0.25%	0.17%	0.17%
	ED	D	0.28%	0.12%	0.12%
	EFX	F	0.27%	0.03%	0.03%
	EG	D	0.13%	0.02%	0.02%
	EHC	B	0.08%	0.02%	0.02%
	EIX	C	0.26%	0.09%	0.09%
	EME	B	0.19%	0.06%	0.06%
	EMN	D	0.1%	0.08%	0.08%
	EPAM	B	0.1%	0.02%	0.02%
	EQH	B	0.12%	0.05%	0.05%
	EQR	C	0.23%	0.05%	0.05%
	EQT	B	0.2%	0.04%	0.04%
	ES	D	0.17%	0.08%	0.08%
	ESS	C	0.16%	0.03%	0.03%
	ETR	B	0.26%	0.12%	0.12%
	EVR	B	0.09%	0.04%	0.04%
	EVRG	A	0.11%	0.07%	0.07%
	EWBC	B	0.11%	0.03%	0.03%
	EXC	C	0.31%	0.17%	0.17%
	EXP	B	0.08%	0.03%	0.03%
	EXPD	C	0.14%	0.04%	0.04%
	EXPE	B	0.19%	0.03%	0.03%
	EXR	D	0.28%	0.03%	0.03%
	FAF	C	0.05%	0.04%	0.04%
	FANG	C	0.28%	0.05%	0.05%
	FAST	B	0.39%	0.08%	0.08%
	FBIN	F	0.08%	0.04%	0.04%
	FCNCA	B	0.21%	0.02%	0.02%
	FE	D	0.19%	0.09%	0.09%
	FFIV	B	0.11%	0.03%	0.03%
	FHN	A	0.09%	0.03%	0.03%
	FIS	B	0.4%	0.11%	0.11%
	FITB	A	0.26%	0.12%	0.12%
	FLO	F	0.03%	0.02%	0.02%
	FMC	F	0.06%	0.03%	0.03%
	FNF	C	0.12%	0.06%	0.06%
	FOXA	A	0.08%	0.09%	0.08%
	FSLR	F	0.17%	0.01%	0.01%
	FTI	B	0.1%	0.01%	0.01%
	FTV	C	0.21%	0.03%	0.03%
	FYBR	D	0.07%	0.04%	0.04%
	G	B	0.07%	0.03%	0.03%
	GAP	B	0.04%	0.04%	0.04%
	GDDY	B	0.2%	0.03%	0.03%
	GEHC	D	0.31%	0.1%	0.1%
	GEN	B	0.13%	0.04%	0.04%
	GGG	B	0.12%	0.02%	0.02%
	GIS	F	0.3%	0.11%	0.11%
	GL	B	0.08%	0.03%	0.03%
	GLPI	D	0.11%	0.02%	0.02%
	GLW	B	0.3%	0.14%	0.14%
	GNRC	B	0.09%	0.02%	0.02%
	GNTX	C	0.06%	0.03%	0.03%
	GPC	D	0.14%	0.05%	0.05%
	GPK	D	0.07%	0.03%	0.03%
	GPN	B	0.23%	0.08%	0.08%
	GRMN	A	0.27%	0.03%	0.03%
	GWW	B	0.42%	0.08%	0.08%
	GXO	B	0.06%	0.02%	0.02%
	HAL	C	0.21%	0.06%	0.06%
	HAS	D	0.07%	0.03%	0.03%
	HBAN	A	0.2%	0.07%	0.07%
	HES	B	0.32%	0.05%	0.05%
	HIG	C	0.28%	0.14%	0.14%
	HII	F	0.07%	0.03%	0.03%
	HLT	A	0.49%	0.06%	0.06%
	HOG	D	0.03%	0.02%	0.02%
	HOLX	D	0.15%	0.04%	0.04%
	HPE	B	0.23%	0.21%	0.21%
	HPQ	B	0.29%	0.21%	0.21%
	HRB	D	0.07%	0.01%	0.01%
	HRL	F	0.07%	0.03%	0.03%
	HSIC	F	0.07%	0.04%	0.04%
	HST	D	0.1%	0.04%	0.04%
	HSY	F	0.21%	0.04%	0.04%
	HUBB	C	0.2%	0.04%	0.04%
	HUM	D	0.28%	0.19%	0.19%
	HUN	F	0.03%	0.04%	0.03%
	HWM	B	0.37%	0.07%	0.07%
	IDXX	F	0.29%	0.02%	0.02%
	IEX	B	0.14%	0.03%	0.03%
	IFF	F	0.19%	0.05%	0.05%
	ILMN	C	0.19%	0.03%	0.03%
	INGR	B	0.08%	0.05%	0.05%
	INVH	D	0.17%	0.03%	0.03%
	IP	B	0.16%	0.17%	0.16%
	IPG	F	0.09%	0.04%	0.04%
	IQV	F	0.32%	0.07%	0.07%
	IR	A	0.34%	0.03%	0.03%
	IRM	D	0.28%	0.06%	0.06%
	IT	B	0.33%	0.03%	0.03%
	ITT	A	0.1%	0.03%	0.03%
	IVZ	B	0.05%	0.05%	0.05%
	J	D	0.15%	0.05%	0.05%
	JAZZ	B	0.06%	0.01%	0.01%
	JBHT	C	0.13%	0.05%	0.05%
	JBL	C	0.12%	0.07%	0.07%
	JEF	B	0.1%	0.05%	0.05%
	JHG	A	0.05%	0.03%	0.03%
	JKHY	C	0.11%	0.02%	0.02%
	JLL	C	0.1%	0.08%	0.08%
	JNPR	D	0.1%	0.05%	0.05%
	JWN	B	0.02%	0.01%	0.01%
	K	A	0.17%	0.06%	0.06%
	KBR	D	0.08%	0.02%	0.02%
	KD	A	0.05%	0.05%	0.05%
	KEY	B	0.14%	0.1%	0.1%
	KEYS	C	0.23%	0.04%	0.04%
	KIM	A	0.13%	0.03%	0.03%
	KMI	B	0.42%	0.22%	0.22%
	KMX	B	0.1%	0.06%	0.06%
	KNX	C	0.08%	0.04%	0.04%
	KR	A	0.32%	0.3%	0.3%
	KSS	D	0.02%	0.06%	0.02%
	KVUE	A	0.37%	0.05%	0.05%
	L	A	0.12%	0.05%	0.05%
	LAD	B	0.08%	0.07%	0.07%
	LAMR	D	0.09%	0.02%	0.02%
	LDOS	C	0.22%	0.09%	0.09%
	LEA	F	0.04%	0.05%	0.04%
	LECO	C	0.1%	0.02%	0.02%
	LEG	F	0.01%	0.02%	0.01%
	LEN	D	0.01%	0.16%	0.01%
	LEN	D	0.33%	0.16%	0.16%
	LH	B	0.17%	0.09%	0.09%
	LHX	B	0.4%	0.16%	0.16%
	LII	B	0.16%	0.03%	0.03%
	LKQ	C	0.08%	0.05%	0.05%
	LNC	B	0.04%	0.05%	0.04%
	LNG	B	0.38%	0.06%	0.06%
	LNT	C	0.12%	0.04%	0.04%
	LPLA	A	0.19%	0.04%	0.04%
	LPX	A	0.06%	0.03%	0.03%
	LSTR	B	0.06%	0.03%	0.03%
	LUV	B	0.15%	0.02%	0.02%
	LVS	C	0.14%	0.04%	0.04%
	LW	B	0.09%	0.02%	0.02%
	LYB	F	0.18%	0.14%	0.14%
	M	C	0.03%	0.06%	0.03%
	MAA	C	0.15%	0.03%	0.03%
	MAN	F	0.02%	0.05%	0.02%
	MAS	D	0.14%	0.05%	0.05%
	MCHP	F	0.31%	0.05%	0.05%
	MDU	D	0.03%	0.01%	0.01%
	MGM	D	0.07%	0.06%	0.06%
	MHK	D	0.06%	0.06%	0.06%
	MIDD	D	0.06%	0.02%	0.02%
	MKC	D	0.16%	0.03%	0.03%
	MKL	A	0.17%	0.05%	0.05%
	MKSI	C	0.06%	0.02%	0.02%
	MLM	B	0.31%	0.05%	0.05%
	MOH	F	0.15%	0.05%	0.05%
	MOS	D	0.07%	0.07%	0.07%
	MPW	F	0.02%	0.02%	0.02%
	MRO	B	0.13%	0.08%	0.08%
	MSCI	B	0.37%	0.03%	0.03%
	MSM	C	0.03%	0.01%	0.01%
	MTB	A	0.28%	0.1%	0.1%
	MTD	F	0.22%	0.03%	0.03%
	MTG	C	0.05%	0.02%	0.02%
	MTN	C	0.05%	0.01%	0.01%
	MTZ	B	0.07%	0.03%	0.03%
	MUSA	B	0.08%	0.04%	0.04%
	NDAQ	B	0.26%	0.03%	0.03%
	NDSN	B	0.12%	0.02%	0.02%
	NFG	D	0.04%	0.02%	0.02%
	NI	A	0.13%	0.04%	0.04%
	NOV	C	0.05%	0.02%	0.02%
	NRG	C	0.16%	0.11%	0.11%
	NTAP	D	0.21%	0.07%	0.07%
	NTRS	A	0.17%	0.08%	0.08%
	NUE	D	0.31%	0.21%	0.21%
	NVR	D	0.22%	0.08%	0.08%
	NVT	C	0.1%	0.02%	0.02%
	NWL	B	0.03%	0.03%	0.03%
	NWSA	B	0.09%	0.04%	0.04%
	NXST	C	0.04%	0.04%	0.04%
	O	D	0.41%	0.04%	0.04%
	OC	A	0.13%	0.06%	0.06%
	ODFL	B	0.36%	0.06%	0.06%
	OGE	B	0.07%	0.03%	0.03%
	OGN	F	0.03%	0.05%	0.03%
	OKE	A	0.51%	0.13%	0.13%
	OLN	F	0.04%	0.03%	0.03%
	OMC	A	0.16%	0.08%	0.08%
	OMF	A	0.05%	0.06%	0.05%
	ON	F	0.24%	0.04%	0.04%
	ORI	A	0.07%	0.05%	0.05%
	OSK	B	0.06%	0.04%	0.04%
	OTIS	D	0.33%	0.05%	0.05%
	OVV	C	0.09%	0.05%	0.05%
	PAG	B	0.02%	0.02%	0.02%
	PARA	B	0.05%	0.11%	0.05%
	PAYX	B	0.39%	0.06%	0.06%
	PCG	A	0.36%	0.03%	0.03%
	PEG	C	0.35%	0.1%	0.1%
	PENN	B	0.03%	0.02%	0.02%
	PFG	C	0.16%	0.09%	0.09%
	PFGC	B	0.11%	0.06%	0.06%
	PHM	D	0.22%	0.11%	0.11%
	PII	F	0.03%	0.02%	0.02%
	PK	C	0.02%	0.02%	0.02%
	PKG	B	0.17%	0.07%	0.07%
	PNR	A	0.14%	0.04%	0.04%
	PNW	A	0.08%	0.04%	0.04%
	POOL	D	0.11%	0.02%	0.02%
	POST	D	0.04%	0.02%	0.02%
	PPG	F	0.24%	0.08%	0.08%
	PPL	A	0.2%	0.11%	0.11%
	PRGO	C	0.03%	0.01%	0.01%
	PRI	B	0.08%	0.02%	0.02%
	PRU	B	0.35%	0.22%	0.22%
	PVH	C	0.05%	0.04%	0.04%
	PWR	B	0.39%	0.07%	0.07%
	QRVO	F	0.05%	0.03%	0.03%
	R	B	0.06%	0.07%	0.06%
	REG	A	0.11%	0.02%	0.02%
	RF	A	0.19%	0.08%	0.08%
	RGA	A	0.12%	0.04%	0.04%
	RHI	B	0.06%	0.04%	0.04%
	RJF	A	0.24%	0.05%	0.05%
	RL	B	0.07%	0.03%	0.03%
	RMD	C	0.3%	0.04%	0.04%
	ROK	B	0.25%	0.06%	0.06%
	ROST	D	0.38%	0.07%	0.07%
	RPM	A	0.14%	0.04%	0.04%
	RRX	B	0.09%	0.03%	0.03%
	RS	C	0.15%	0.09%	0.09%
	RVTY	C	0.12%	0.03%	0.03%
	SAIC	D	0.06%	0.03%	0.03%
	SBAC	D	0.19%	0.02%	0.02%
	SCI	B	0.1%	0.03%	0.03%
	SEE	C	0.04%	0.03%	0.03%
	SEIC	A	0.06%	0.03%	0.03%
	SJM	F	0.1%	0.06%	0.06%
	SKX	F	0.07%	0.02%	0.02%
	SLM	A	0.04%	0.04%	0.04%
	SNA	A	0.15%	0.05%	0.05%
	SNV	B	0.07%	0.03%	0.03%
	SNX	C	0.08%	0.03%	0.03%
	SOLV	C	0.08%	0.03%	0.03%
	SON	F	0.04%	0.03%	0.03%
	SPG	A	0.47%	0.1%	0.1%
	SQ	B	0.34%	0.02%	0.02%
	SSNC	C	0.13%	0.04%	0.04%
	ST	F	0.04%	0.02%	0.02%
	STE	D	0.17%	0.03%	0.03%
	STLD	C	0.18%	0.12%	0.12%
	STT	B	0.23%	0.1%	0.1%
	STWD	C	0.05%	0.02%	0.02%
	SUI	F	0.13%	0.02%	0.02%
	SW	B	0.22%	0.09%	0.09%
	SWK	F	0.11%	0.07%	0.07%
	SWKS	F	0.12%	0.04%	0.04%
	SYF	B	0.2%	0.33%	0.2%
	SYY	D	0.31%	0.1%	0.1%
	TAP	B	0.08%	0.05%	0.05%
	TDY	B	0.18%	0.03%	0.03%
	TER	F	0.14%	0.04%	0.04%
	TFX	F	0.08%	0.02%	0.02%
	THC	B	0.13%	0.07%	0.07%
	THG	A	0.05%	0.02%	0.02%
	THO	B	0.05%	0.04%	0.04%
	TKR	F	0.04%	0.02%	0.02%
	TNL	A	0.03%	0.01%	0.01%
	TOL	B	0.13%	0.06%	0.06%
	TPR	A	0.1%	0.05%	0.05%
	TPX	B	0.07%	0.02%	0.02%
	TRGP	B	0.34%	0.07%	0.07%
	TRMB	B	0.14%	0.03%	0.03%
	TROW	A	0.21%	0.13%	0.13%
	TRU	D	0.17%	0.03%	0.03%
	TSCO	D	0.25%	0.06%	0.06%
	TSN	B	0.14%	0.18%	0.14%
	TTC	F	0.07%	0.02%	0.02%
	TTWO	A	0.25%	0.03%	0.03%
	TXT	D	0.13%	0.06%	0.06%
	UDR	C	0.12%	0.02%	0.02%
	UGI	D	0.04%	0.05%	0.04%
	UHAL	D	0.05%	0.02%	0.02%
	UHAL	D	0.0%	0.02%	0.0%
	UHS	D	0.1%	0.08%	0.08%
	ULTA	C	0.15%	0.03%	0.03%
	UNM	A	0.09%	0.06%	0.06%
	URI	B	0.47%	0.13%	0.13%
	USFD	B	0.12%	0.08%	0.08%
	VAC	B	0.03%	0.02%	0.02%
	VFC	C	0.06%	0.07%	0.06%
	VICI	D	0.27%	0.02%	0.02%
	VMC	B	0.31%	0.05%	0.05%
	VNO	C	0.07%	0.05%	0.05%
	VOYA	B	0.07%	0.03%	0.03%
	VRSK	A	0.33%	0.04%	0.04%
	VRSN	C	0.13%	0.01%	0.01%
	VST	B	0.4%	0.15%	0.15%
	VTR	C	0.21%	0.08%	0.08%
	VTRS	B	0.12%	0.1%	0.1%
	WAB	B	0.28%	0.06%	0.06%
	WAT	B	0.18%	0.04%	0.04%
	WBA	D	0.05%	0.18%	0.05%
	WBD	B	0.18%	0.08%	0.08%
	WCC	B	0.07%	0.04%	0.04%
	WDC	D	0.18%	0.13%	0.13%
	WEC	B	0.25%	0.08%	0.08%
	WHR	B	0.05%	0.07%	0.05%
	WLK	F	0.04%	0.02%	0.02%
	WMB	B	0.56%	0.17%	0.17%
	WPC	F	0.1%	0.02%	0.02%
	WRB	B	0.14%	0.03%	0.03%
	WSM	F	0.13%	0.04%	0.04%
	WSO	B	0.15%	0.03%	0.03%
	WST	B	0.19%	0.02%	0.02%
	WTRG	C	0.08%	0.01%	0.01%
	WTW	A	0.26%	0.07%	0.07%
	WU	F	0.02%	0.03%	0.02%
	WY	F	0.19%	0.09%	0.09%
	X	D	0.07%	0.08%	0.07%
	XEL	A	0.3%	0.12%	0.12%
	XRAY	F	0.03%	0.01%	0.01%
	XYL	F	0.24%	0.03%	0.03%
	YUM	B	0.31%	0.08%	0.08%
	ZBH	C	0.18%	0.05%	0.05%
	ZBRA	B	0.17%	0.04%	0.04%
	ZION	B	0.07%	0.06%	0.06%

IWR Overweight 339 Positions Relative to FNDX

	Symbol	Grade	Weight
	PLTR	B	0.95%
	APP	B	0.62%
	TTD	B	0.45%
	FICO	B	0.45%
	RCL	A	0.43%
	COIN	B	0.43%
	VRT	B	0.36%
	AXON	B	0.35%
	FERG	B	0.34%
	MSTR	B	0.34%
	DDOG	B	0.3%
	MPWR	F	0.29%
	VEEV	B	0.28%
	ALNY	D	0.28%
	HUBS	B	0.26%
	ARES	B	0.25%
	CSGP	F	0.25%
	CPNG	B	0.23%
	DXCM	C	0.23%
	UAL	A	0.23%
	RBLX	B	0.22%
	NET	B	0.22%
	TPL	B	0.21%
	VLTO	D	0.21%
	CVNA	B	0.21%
	TYL	B	0.21%
	PTC	B	0.19%
	MDB	C	0.17%
	EXE	A	0.17%
	ZM	B	0.17%
	LYV	A	0.16%
	COO	D	0.16%
	HOOD	B	0.16%
	UTHR	B	0.15%
	ZS	B	0.15%
	IBKR	A	0.15%
	FDS	A	0.15%
	DKNG	B	0.15%
	PODD	B	0.15%
	TOST	A	0.14%
	FWONK	A	0.14%
	NTNX	B	0.14%
	MANH	C	0.14%
	XPO	B	0.14%
	PINS	F	0.14%
	DT	C	0.13%
	TWLO	B	0.13%
	ENTG	F	0.13%
	GWRE	A	0.13%
	DOCU	B	0.13%
	PSTG	D	0.13%
	FIX	B	0.13%
	HEI	A	0.13%
	SAIA	B	0.12%
	NTRA	B	0.12%
	TW	B	0.12%
	ELS	B	0.11%
	TXRH	A	0.11%
	CLH	B	0.11%
	INCY	B	0.11%
	SOFI	B	0.11%
	RNR	D	0.11%
	ROL	C	0.11%
	TECH	D	0.1%
	DUOL	A	0.1%
	SMCI	F	0.1%
	DAY	B	0.1%
	OKTA	C	0.1%
	TTEK	F	0.1%
	AMH	C	0.1%
	NBIX	C	0.1%
	BMRN	F	0.1%
	FND	F	0.09%
	AFRM	B	0.09%
	WWD	B	0.09%
	LBRDK	C	0.09%
	CUBE	D	0.09%
	SRPT	F	0.09%
	CAVA	C	0.09%
	BWXT	B	0.09%
	HEI	A	0.09%
	SF	A	0.09%
	OWL	B	0.09%
	PAYC	B	0.09%
	NCLH	B	0.09%
	Z	B	0.09%
	REXR	F	0.08%
	MORN	B	0.08%
	GME	C	0.08%
	LNW	F	0.08%
	PCTY	B	0.08%
	ROKU	C	0.08%
	EXAS	F	0.08%
	ITCI	B	0.08%
	FRT	B	0.08%
	AAON	B	0.08%
	TKO	D	0.08%
	WMS	F	0.08%
	DTM	A	0.08%
	WAL	B	0.08%
	GLOB	B	0.08%
	PR	C	0.08%
	HLI	B	0.08%
	RGLD	C	0.08%
	WBS	A	0.08%
	NLY	C	0.08%
	WING	D	0.08%
	KNSL	C	0.08%
	MKTX	C	0.08%
	CHDN	B	0.08%
	OHI	C	0.08%
	RPRX	F	0.08%
	EXEL	B	0.08%
	SSD	F	0.07%
	CHRD	D	0.07%
	CFR	B	0.07%
	CART	C	0.07%
	PLNT	A	0.07%
	CBSH	A	0.07%
	WTFC	B	0.07%
	CNM	D	0.07%
	OLED	F	0.07%
	APG	C	0.07%
	EGP	D	0.07%
	WYNN	C	0.07%
	ONTO	F	0.07%
	CR	B	0.07%
	PEN	C	0.07%
	RIVN	F	0.07%
	ENPH	F	0.07%
	NYT	C	0.07%
	RBC	B	0.07%
	GMED	B	0.07%
	BRBR	A	0.07%
	MEDP	D	0.07%
	PNFP	B	0.07%
	AZEK	B	0.06%
	H	B	0.06%
	VMI	B	0.06%
	ELAN	C	0.06%
	MASI	B	0.06%
	SN	C	0.06%
	FR	D	0.06%
	ESTC	C	0.06%
	BIO	C	0.06%
	AGNC	C	0.06%
	DOCS	B	0.06%
	GTLB	B	0.06%
	FCN	F	0.06%
	PB	B	0.06%
	RLI	A	0.06%
	ATI	F	0.06%
	VKTX	F	0.06%
	FRPT	B	0.06%
	WSC	F	0.06%
	RYAN	B	0.06%
	COKE	C	0.06%
	WH	A	0.06%
	CGNX	C	0.06%
	KEX	A	0.06%
	LSCC	D	0.06%
	PCOR	B	0.06%
	ESAB	B	0.06%
	SMAR	A	0.06%
	ADC	A	0.06%
	WEX	D	0.06%
	S	B	0.06%
	MTSI	B	0.06%
	NNN	F	0.06%
	RRC	B	0.06%
	RGEN	C	0.06%
	MTCH	F	0.06%
	TREX	C	0.06%
	FLS	B	0.06%
	BILL	B	0.06%
	VVV	B	0.05%
	CRUS	F	0.05%
	LITE	B	0.05%
	INSP	F	0.05%
	FNB	B	0.05%
	IDA	A	0.05%
	PATH	C	0.05%
	OLLI	C	0.05%
	CROX	F	0.05%
	U	F	0.05%
	IONS	F	0.05%
	VNT	C	0.05%
	ETSY	D	0.05%
	FOUR	B	0.05%
	LFUS	D	0.05%
	BRKR	F	0.05%
	WFRD	F	0.05%
	SIRI	C	0.05%
	COLB	A	0.05%
	LAZ	C	0.05%
	ESI	B	0.05%
	MSA	D	0.05%
	LYFT	B	0.05%
	ELF	C	0.05%
	COLD	F	0.05%
	AXS	A	0.05%
	CFLT	B	0.05%
	MAT	C	0.05%
	AZPN	A	0.05%
	MTDR	B	0.05%
	AWI	B	0.05%
	BFAM	F	0.05%
	SITE	D	0.05%
	STAG	D	0.05%
	HR	C	0.05%
	BSY	F	0.05%
	GFS	C	0.04%
	DLB	D	0.04%
	EEFT	C	0.04%
	SLGN	B	0.04%
	RARE	F	0.04%
	AGO	B	0.04%
	RYN	F	0.04%
	WTM	A	0.04%
	FIVE	F	0.04%
	CUZ	B	0.04%
	HCP	A	0.04%
	KRC	C	0.04%
	OZK	B	0.04%
	RH	C	0.04%
	HXL	F	0.04%
	LOPE	B	0.04%
	ROIV	D	0.04%
	BYD	A	0.04%
	CELH	F	0.04%
	PSN	C	0.04%
	BROS	B	0.04%
	CCCS	B	0.04%
	APPF	B	0.04%
	AM	B	0.04%
	CIVI	D	0.04%
	FOX	A	0.04%
	RITM	C	0.04%
	VNOM	C	0.04%
	TPG	B	0.04%
	AMKR	F	0.03%
	AMED	F	0.03%
	BHF	B	0.03%
	RNG	C	0.03%
	APLS	F	0.03%
	ECG	D	0.03%
	YETI	D	0.03%
	LBTYA	F	0.03%
	LBTYK	F	0.03%
	WEN	C	0.03%
	ZG	B	0.03%
	EPR	D	0.03%
	IRDM	B	0.03%
	NCNO	B	0.03%
	FHB	B	0.03%
	NVST	C	0.03%
	HIW	D	0.03%
	SPR	F	0.03%
	W	F	0.03%
	NWS	B	0.03%
	ACHC	F	0.03%
	DNB	B	0.03%
	ZI	C	0.03%
	NEU	C	0.03%
	PEGA	B	0.03%
	IAC	F	0.03%
	CHH	B	0.03%
	ASH	F	0.03%
	KMPR	A	0.03%
	LINE	F	0.03%
	AMTM	D	0.03%
	MSGS	B	0.03%
	GTES	B	0.03%
	CLVT	F	0.02%
	VSTS	D	0.02%
	FTRE	D	0.02%
	ALAB	C	0.02%
	RKT	F	0.02%
	LCID	F	0.02%
	RCM	B	0.02%
	HAYW	B	0.02%
	PPC	C	0.02%
	ADT	C	0.02%
	IPGP	C	0.02%
	CWEN	D	0.02%
	QDEL	F	0.02%
	AZTA	F	0.02%
	PINC	B	0.02%
	SHC	D	0.02%
	SPB	A	0.02%
	ENOV	C	0.02%
	AGR	C	0.02%
	MP	C	0.02%
	BOKF	B	0.02%
	HHH	B	0.02%
	ALGM	F	0.02%
	FIVN	C	0.02%
	SAM	B	0.02%
	COTY	D	0.02%
	CXT	F	0.02%
	VIRT	B	0.02%
	CACC	D	0.02%
	DV	C	0.02%
	COLM	B	0.02%
	LLYVK	B	0.02%
	TDC	F	0.02%
	NSA	D	0.02%
	SMG	D	0.02%
	UWMC	F	0.01%
	SEB	F	0.01%
	TFSL	A	0.01%
	CWEN	D	0.01%
	LOAR	C	0.01%
	CNA	C	0.01%
	AS	B	0.01%
	DDS	B	0.01%
	LLYVA	B	0.01%
	WOLF	F	0.01%
	PYCR	B	0.01%
	UI	B	0.01%
	CERT	F	0.01%
	SNDR	B	0.01%
	REYN	D	0.01%
	INFA	F	0.01%
	TXG	F	0.01%
	TRIP	D	0.01%
	LBRDA	C	0.01%
	UA	B	0.01%
	GO	C	0.01%
	FWONA	B	0.01%
	QS	F	0.01%
	UAA	B	0.01%
	BIRK	F	0.01%
	DJT	C	0.01%
	PARAA	B	0.0%
	SEG	F	0.0%
	GRAL	B	0.0%
	NFE	F	0.0%
	PLTK	B	0.0%

IWR Underweight 259 Positions Relative to FNDX

	Symbol	Grade	Weight
	AAPL	C	-4.32%
	MSFT	C	-2.41%
	BRK.A	B	-2.13%
	XOM	B	-1.99%
	JPM	A	-1.98%
	META	B	-1.82%
	AMZN	A	-1.54%
	WMT	A	-1.45%
	GOOGL	C	-1.36%
	WFC	A	-1.29%
	BAC	A	-1.26%
	T	A	-1.25%
	UNH	B	-1.24%
	CVX	A	-1.21%
	GOOG	C	-1.17%
	VZ	D	-1.12%
	C	B	-1.1%
	INTC	C	-0.93%
	JNJ	D	-0.92%
	CMCSA	B	-0.84%
	CSCO	A	-0.82%
	HD	B	-0.78%
	GM	B	-0.76%
	PG	C	-0.75%
	PFE	F	-0.71%
	CVS	F	-0.7%
	LUMN	C	-0.68%
	AVGO	C	-0.66%
	COST	B	-0.65%
	GS	B	-0.61%
	ABBV	F	-0.58%
	IBM	D	-0.55%
	ORCL	A	-0.5%
	COP	C	-0.48%
	COF	B	-0.48%
	CI	D	-0.47%
	PM	B	-0.46%
	MS	A	-0.45%
	QCOM	F	-0.45%
	MRK	F	-0.44%
	MU	D	-0.43%
	CAT	B	-0.43%
	BMY	B	-0.42%
	LOW	B	-0.42%
	AMGN	F	-0.42%
	NVDA	A	-0.41%
	PEP	D	-0.41%
	DIS	B	-0.41%
	MPC	D	-0.39%
	GILD	B	-0.39%
	ELV	F	-0.38%
	TGT	C	-0.37%
	LMT	D	-0.37%
	VLO	C	-0.37%
	KO	F	-0.36%
	AXP	B	-0.36%
	V	A	-0.36%
	TXN	B	-0.36%
	MO	A	-0.36%
	UNP	D	-0.36%
	PSX	C	-0.35%
	HON	B	-0.35%
	MMM	C	-0.35%
	ACN	B	-0.35%
	ABT	C	-0.34%
	RTX	D	-0.34%
	LIN	D	-0.34%
	F	C	-0.33%
	MCD	C	-0.33%
	USB	B	-0.31%
	PNC	B	-0.3%
	DUK	D	-0.3%
	TRV	B	-0.3%
	FDX	B	-0.3%
	UPS	C	-0.29%
	AIG	B	-0.28%
	MA	B	-0.28%
	SBUX	B	-0.27%
	TMO	F	-0.26%
	SO	D	-0.26%
	TSLA	B	-0.26%
	TMUS	A	-0.25%
	AMAT	F	-0.25%
	MET	C	-0.25%
	CB	C	-0.25%
	NEE	D	-0.24%
	DE	D	-0.24%
	BKNG	A	-0.24%
	ETN	B	-0.23%
	TFC	B	-0.23%
	PGR	A	-0.23%
	GD	C	-0.22%
	TJX	A	-0.22%
	EOG	A	-0.22%
	PYPL	A	-0.21%
	HCA	D	-0.21%
	NSC	B	-0.21%
	CSX	B	-0.21%
	MDLZ	F	-0.2%
	LLY	F	-0.2%
	NOC	D	-0.2%
	NKE	F	-0.19%
	ADBE	C	-0.18%
	MDT	D	-0.17%
	EMR	A	-0.17%
	D	D	-0.17%
	JCI	A	-0.16%
	LRCX	F	-0.16%
	AEP	D	-0.16%
	NFLX	A	-0.16%
	PCAR	B	-0.15%
	DHR	F	-0.15%
	ADP	A	-0.15%
	WM	A	-0.15%
	ITW	B	-0.15%
	GE	D	-0.15%
	FCX	F	-0.15%
	ADI	D	-0.14%
	MMC	D	-0.14%
	SPGI	C	-0.14%
	CRM	B	-0.14%
	NEM	F	-0.14%
	SRE	B	-0.13%
	AON	B	-0.13%
	FI	A	-0.13%
	SLB	C	-0.12%
	BA	F	-0.12%
	CARR	C	-0.12%
	KKR	B	-0.12%
	SYK	A	-0.12%
	APD	B	-0.12%
	BX	A	-0.12%
	CL	F	-0.12%
	PH	A	-0.12%
	INTU	A	-0.11%
	MCK	B	-0.11%
	BDX	F	-0.11%
	CEG	D	-0.11%
	OXY	F	-0.11%
	ICE	C	-0.11%
	AMT	F	-0.11%
	SCHW	B	-0.11%
	KHC	F	-0.1%
	KMB	D	-0.1%
	AMD	F	-0.1%
	ORLY	A	-0.1%
	REGN	F	-0.1%
	WELL	B	-0.1%
	MAR	A	-0.09%
	BSX	A	-0.09%
	APH	B	-0.09%
	STX	D	-0.09%
	VRTX	B	-0.08%
	CME	B	-0.08%
	ECL	C	-0.08%
	WKC	C	-0.08%
	SHW	A	-0.08%
	EQIX	B	-0.08%
	ISRG	A	-0.08%
	KLAC	F	-0.08%
	CTAS	B	-0.08%
	FLEX	B	-0.07%
	TDG	D	-0.07%
	MCO	C	-0.07%
	STZ	D	-0.07%
	KDP	C	-0.07%
	PLD	D	-0.07%
	ZTS	D	-0.07%
	BFH	B	-0.06%
	AZO	B	-0.06%
	TT	B	-0.06%
	RSG	B	-0.06%
	MSI	B	-0.06%
	MNST	B	-0.05%
	GEV	B	-0.05%
	MRVL	B	-0.05%
	JXN	C	-0.05%
	NXPI	F	-0.05%
	GPI	B	-0.05%
	SFM	B	-0.05%
	ROP	A	-0.05%
	TDS	C	-0.05%
	PSA	D	-0.05%
	MLI	B	-0.04%
	BCC	B	-0.04%
	HBI	B	-0.04%
	CMG	B	-0.04%
	UBER	F	-0.04%
	SANM	C	-0.04%
	ZIM	B	-0.04%
	CNO	B	-0.04%
	UFPI	B	-0.04%
	ANET	C	-0.04%
	TMHC	B	-0.04%
	CRBG	C	-0.04%
	EW	F	-0.04%
	GT	C	-0.04%
	DELL	C	-0.03%
	CPRT	A	-0.03%
	TGNA	B	-0.03%
	TPH	C	-0.03%
	APO	B	-0.03%
	KBH	D	-0.03%
	ABG	B	-0.03%
	BTU	C	-0.03%
	FTNT	B	-0.03%
	GNW	B	-0.03%
	FL	F	-0.03%
	FLR	C	-0.03%
	MTH	D	-0.03%
	PANW	B	-0.03%
	PBF	F	-0.03%
	MRNA	F	-0.03%
	SNPS	C	-0.03%
	CDNS	B	-0.03%
	EL	F	-0.03%
	ADSK	B	-0.03%
	CMC	B	-0.03%
	ADNT	D	-0.02%
	ALV	C	-0.02%
	MATX	B	-0.02%
	ODP	F	-0.02%
	CHKP	C	-0.02%
	ARCH	B	-0.02%
	AER	B	-0.02%
	POR	D	-0.02%
	OI	C	-0.02%
	WERN	B	-0.02%
	SM	C	-0.02%
	CCEP	C	-0.02%
	XRX	F	-0.02%
	NAVI	D	-0.02%
	HUBG	A	-0.02%
	ASO	F	-0.02%
	NSIT	F	-0.02%
	MUR	D	-0.02%
	REZI	A	-0.02%
	ASGN	D	-0.02%
	SLG	C	-0.02%
	BECN	B	-0.02%
	BAP	A	-0.02%
	ABM	B	-0.02%
	RUSHA	B	-0.02%
	VSH	F	-0.01%
	ANDE	D	-0.01%
	ICLR	F	-0.01%
	LILAK	F	-0.01%
	AEO	F	-0.01%
	SPTN	F	-0.01%
	MMS	F	-0.01%
	CYH	F	-0.01%
	HTZ	C	-0.01%
	NOW	A	-0.01%
	DK	D	-0.01%
	QRTEA	F	-0.01%
	LULU	B	-0.01%
	UNFI	B	-0.01%
	CNX	B	-0.01%
	DAN	D	-0.01%

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

FNDX: Top Represented Industries & Keywords

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

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