IWR vs. IMCV ETF Comparison

Comparison of iShares Russell Mid-Cap ETF (IWR) to iShares Morningstar Mid-Cap Value ETF (IMCV)

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

$91.83

Average Daily Volume

1,406,493

Number of Holdings ^*

802

* may have additional holdings in another (foreign) market

IMCV

iShares Morningstar Mid-Cap Value ETF

IMCV Description

The investment seeks to track the investment results of the Morningstar® US Mid Cap Broad Value IndexSM composed of 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. The underlying index measures the performance of stocks issued by mid-capitalization companies that have exhibited “value” characteristics as determined by Morningstar, Inc. (Morningstar or the index providerâ) proprietary index methodology.

Grade (RS Rating)

Last Trade

$78.59

Average Daily Volume

19,319

Number of Holdings ^*

303

* may have additional holdings in another (foreign) market

Performance

Period	IWR	IMCV
30 Days	3.47%	1.95%
60 Days	8.08%	4.63%
90 Days	10.61%	7.64%
12 Months	32.89%	28.42%

281 Overlapping Holdings

	Symbol	Grade	Weight in IWR	Weight in IMCV	Overlap
	ACGL	D	0.3%	0.46%	0.3%
	ACI	C	0.07%	0.14%	0.07%
	ACM	B	0.12%	0.1%	0.1%
	ADM	F	0.2%	0.44%	0.2%
	AEE	A	0.19%	0.43%	0.19%
	AES	F	0.08%	0.17%	0.08%
	AFG	A	0.08%	0.11%	0.08%
	AFL	C	0.49%	0.97%	0.49%
	AGR	C	0.02%	0.05%	0.02%
	AKAM	F	0.11%	0.13%	0.11%
	ALB	B	0.1%	0.1%	0.1%
	ALGN	F	0.13%	0.1%	0.1%
	ALL	A	0.42%	0.53%	0.42%
	ALLE	D	0.1%	0.09%	0.09%
	ALLY	C	0.08%	0.18%	0.08%
	AMCR	D	0.12%	0.26%	0.12%
	AMP	A	0.45%	0.32%	0.32%
	AOS	F	0.07%	0.05%	0.05%
	APA	F	0.06%	0.14%	0.06%
	APTV	D	0.12%	0.12%	0.12%
	AR	B	0.07%	0.15%	0.07%
	ARE	F	0.16%	0.22%	0.16%
	ATO	A	0.18%	0.39%	0.18%
	AVB	A	0.27%	0.3%	0.27%
	AVTR	F	0.12%	0.11%	0.11%
	AVY	F	0.13%	0.14%	0.13%
	AWK	D	0.22%	0.24%	0.22%
	BAH	C	0.19%	0.1%	0.1%
	BALL	D	0.15%	0.14%	0.14%
	BAX	F	0.14%	0.31%	0.14%
	BBY	D	0.16%	0.31%	0.16%
	BEN	C	0.05%	0.11%	0.05%
	BG	D	0.1%	0.22%	0.1%
	BIIB	F	0.2%	0.45%	0.2%
	BJ	B	0.1%	0.11%	0.1%
	BK	B	0.46%	1.01%	0.46%
	BKR	B	0.35%	0.39%	0.35%
	BLD	F	0.09%	0.09%	0.09%
	BLDR	D	0.17%	0.2%	0.17%
	BXP	D	0.11%	0.23%	0.11%
	CAG	F	0.11%	0.24%	0.11%
	CAH	A	0.24%	0.52%	0.24%
	CASY	B	0.12%	0.08%	0.08%
	CBRE	A	0.34%	0.28%	0.28%
	CCI	F	0.37%	0.81%	0.37%
	CCK	D	0.09%	0.13%	0.09%
	CCL	A	0.19%	0.43%	0.19%
	CE	F	0.08%	0.07%	0.07%
	CF	B	0.12%	0.27%	0.12%
	CFG	B	0.17%	0.37%	0.17%
	CG	C	0.09%	0.2%	0.09%
	CHTR	B	0.3%	0.69%	0.3%
	CINF	A	0.18%	0.25%	0.18%
	CLX	A	0.17%	0.13%	0.13%
	CMI	A	0.39%	0.28%	0.28%
	CMS	C	0.16%	0.23%	0.16%
	CNC	F	0.26%	0.56%	0.26%
	CNH	D	0.08%	0.17%	0.08%
	CNP	B	0.16%	0.34%	0.16%
	COO	D	0.16%	0.1%	0.1%
	COR	A	0.33%	0.35%	0.33%
	COTY	F	0.02%	0.01%	0.01%
	CPAY	A	0.2%	0.11%	0.11%
	CPB	F	0.07%	0.16%	0.07%
	CPNG	B	0.23%	0.18%	0.18%
	CPT	C	0.1%	0.13%	0.1%
	CRL	C	0.09%	0.07%	0.07%
	CTRA	B	0.15%	0.19%	0.15%
	CTSH	A	0.32%	0.72%	0.32%
	CTVA	C	0.33%	0.4%	0.33%
	DAL	A	0.32%	0.38%	0.32%
	DD	D	0.29%	0.33%	0.29%
	DFS	B	0.35%	0.34%	0.34%
	DG	F	0.14%	0.3%	0.14%
	DGX	A	0.14%	0.31%	0.14%
	DHI	F	0.41%	0.89%	0.41%
	DINO	D	0.05%	0.12%	0.05%
	DKNG	B	0.15%	0.15%	0.15%
	DKS	F	0.09%	0.12%	0.09%
	DLR	C	0.48%	0.28%	0.28%
	DLTR	F	0.1%	0.13%	0.1%
	DOC	C	0.13%	0.29%	0.13%
	DOV	A	0.22%	0.15%	0.15%
	DOW	F	0.26%	0.34%	0.26%
	DRI	B	0.16%	0.18%	0.16%
	DTE	D	0.2%	0.43%	0.2%
	DVA	C	0.06%	0.07%	0.06%
	DVN	F	0.2%	0.44%	0.2%
	EA	A	0.34%	0.2%	0.2%
	EBAY	C	0.25%	0.35%	0.25%
	ED	D	0.28%	0.6%	0.28%
	EG	D	0.13%	0.29%	0.13%
	EIX	C	0.26%	0.57%	0.26%
	ELS	C	0.11%	0.09%	0.09%
	EMN	D	0.1%	0.21%	0.1%
	ENTG	D	0.13%	0.11%	0.11%
	EPAM	B	0.1%	0.11%	0.1%
	EQH	B	0.12%	0.25%	0.12%
	EQR	C	0.23%	0.27%	0.23%
	EQT	B	0.2%	0.15%	0.15%
	ES	D	0.17%	0.38%	0.17%
	ESS	C	0.16%	0.18%	0.16%
	ETR	B	0.26%	0.56%	0.26%
	EVRG	A	0.11%	0.25%	0.11%
	EXC	C	0.31%	0.67%	0.31%
	EXE	A	0.17%	0.33%	0.17%
	EXPD	D	0.14%	0.3%	0.14%
	EXPE	B	0.19%	0.2%	0.19%
	EXR	D	0.28%	0.41%	0.28%
	FANG	D	0.28%	0.56%	0.28%
	FE	D	0.19%	0.38%	0.19%
	FERG	B	0.34%	0.75%	0.34%
	FFIV	A	0.11%	0.15%	0.11%
	FIS	B	0.4%	0.88%	0.4%
	FITB	A	0.26%	0.56%	0.26%
	FNF	C	0.12%	0.27%	0.12%
	FOX	A	0.04%	0.1%	0.04%
	FOXA	A	0.08%	0.19%	0.08%
	FTV	D	0.21%	0.14%	0.14%
	GEHC	F	0.31%	0.33%	0.31%
	GEN	A	0.13%	0.14%	0.13%
	GIS	F	0.3%	0.65%	0.3%
	GLPI	D	0.11%	0.23%	0.11%
	GLW	C	0.3%	0.67%	0.3%
	GPC	D	0.14%	0.18%	0.14%
	GPN	B	0.23%	0.3%	0.23%
	GRMN	A	0.27%	0.21%	0.21%
	HAL	C	0.21%	0.21%	0.21%
	HBAN	B	0.2%	0.45%	0.2%
	HIG	C	0.28%	0.62%	0.28%
	HII	D	0.07%	0.06%	0.06%
	HOLX	D	0.15%	0.33%	0.15%
	HPE	B	0.23%	0.51%	0.23%
	HPQ	B	0.29%	0.65%	0.29%
	HRL	F	0.07%	0.1%	0.07%
	HST	C	0.1%	0.22%	0.1%
	HSY	D	0.21%	0.21%	0.21%
	HUM	D	0.28%	0.62%	0.28%
	IFF	F	0.19%	0.42%	0.19%
	INCY	B	0.11%	0.11%	0.11%
	IP	C	0.16%	0.35%	0.16%
	IPG	F	0.09%	0.2%	0.09%
	IQV	F	0.32%	0.26%	0.26%
	IRM	D	0.28%	0.31%	0.28%
	J	B	0.15%	0.11%	0.11%
	JBHT	B	0.13%	0.11%	0.11%
	JBL	C	0.12%	0.12%	0.12%
	JNPR	D	0.1%	0.22%	0.1%
	K	A	0.17%	0.38%	0.17%
	KEY	B	0.14%	0.32%	0.14%
	KEYS	C	0.23%	0.28%	0.23%
	KIM	A	0.13%	0.09%	0.09%
	KMI	B	0.42%	0.94%	0.42%
	KMX	C	0.1%	0.1%	0.1%
	KR	A	0.32%	0.72%	0.32%
	KVUE	B	0.37%	0.73%	0.37%
	L	A	0.12%	0.28%	0.12%
	LDOS	B	0.22%	0.28%	0.22%
	LEN	D	0.01%	0.03%	0.01%
	LEN	D	0.01%	0.72%	0.01%
	LEN	D	0.33%	0.72%	0.33%
	LEN	D	0.33%	0.03%	0.03%
	LH	A	0.17%	0.36%	0.17%
	LHX	A	0.4%	0.88%	0.4%
	LKQ	D	0.08%	0.18%	0.08%
	LNG	B	0.38%	0.58%	0.38%
	LNT	C	0.12%	0.26%	0.12%
	LUV	B	0.15%	0.19%	0.15%
	LYB	F	0.18%	0.39%	0.18%
	MAA	C	0.15%	0.21%	0.15%
	MAS	D	0.14%	0.18%	0.14%
	MCHP	F	0.31%	0.39%	0.31%
	MGM	D	0.07%	0.09%	0.07%
	MKC	D	0.16%	0.16%	0.16%
	MKL	A	0.17%	0.14%	0.14%
	MOH	F	0.15%	0.15%	0.15%
	MOS	D	0.07%	0.16%	0.07%
	MRO	B	0.13%	0.28%	0.13%
	MSTR	B	0.34%	0.33%	0.33%
	MTB	B	0.28%	0.62%	0.28%
	NDAQ	A	0.26%	0.33%	0.26%
	NI	A	0.13%	0.29%	0.13%
	NRG	B	0.16%	0.23%	0.16%
	NTAP	D	0.21%	0.22%	0.21%
	NTRS	A	0.17%	0.38%	0.17%
	NUE	C	0.31%	0.67%	0.31%
	NVR	D	0.22%	0.5%	0.22%
	NWS	B	0.03%	0.06%	0.03%
	NWSA	B	0.09%	0.2%	0.09%
	O	D	0.41%	0.59%	0.41%
	OC	A	0.13%	0.29%	0.13%
	OKE	A	0.51%	1.11%	0.51%
	OMC	B	0.16%	0.36%	0.16%
	ON	F	0.24%	0.34%	0.24%
	OTIS	C	0.33%	0.28%	0.28%
	OVV	C	0.09%	0.21%	0.09%
	PAG	B	0.02%	0.06%	0.02%
	PCG	A	0.36%	0.46%	0.36%
	PEG	C	0.35%	0.76%	0.35%
	PFG	C	0.16%	0.35%	0.16%
	PHM	D	0.22%	0.28%	0.22%
	PINS	F	0.14%	0.14%	0.14%
	PKG	B	0.17%	0.38%	0.17%
	PNR	A	0.14%	0.08%	0.08%
	POOL	D	0.11%	0.13%	0.11%
	PPG	F	0.24%	0.32%	0.24%
	PPL	A	0.2%	0.44%	0.2%
	PRU	B	0.35%	0.78%	0.35%
	QRVO	F	0.05%	0.05%	0.05%
	RCL	A	0.43%	0.29%	0.29%
	REG	A	0.11%	0.13%	0.11%
	RF	B	0.19%	0.42%	0.19%
	RGA	A	0.12%	0.26%	0.12%
	RJF	A	0.24%	0.21%	0.21%
	RNR	D	0.11%	0.25%	0.11%
	RPM	A	0.14%	0.1%	0.1%
	RPRX	F	0.08%	0.19%	0.08%
	RRX	C	0.09%	0.09%	0.09%
	RS	B	0.15%	0.32%	0.15%
	RVTY	C	0.12%	0.15%	0.12%
	SCI	B	0.1%	0.1%	0.1%
	SIRI	D	0.05%	0.11%	0.05%
	SJM	F	0.1%	0.22%	0.1%
	SNA	A	0.15%	0.22%	0.15%
	SNX	C	0.08%	0.11%	0.08%
	SOLV	D	0.08%	0.18%	0.08%
	SPG	B	0.47%	0.98%	0.47%
	SSNC	C	0.13%	0.29%	0.13%
	STLD	B	0.18%	0.39%	0.18%
	STT	B	0.23%	0.51%	0.23%
	SW	C	0.22%	0.47%	0.22%
	SWK	F	0.11%	0.13%	0.11%
	SWKS	F	0.12%	0.25%	0.12%
	SYF	B	0.2%	0.46%	0.2%
	TAP	B	0.08%	0.18%	0.08%
	TDY	A	0.18%	0.19%	0.18%
	TER	F	0.14%	0.16%	0.14%
	TFX	F	0.08%	0.1%	0.08%
	THC	B	0.13%	0.29%	0.13%
	TOL	C	0.13%	0.18%	0.13%
	TRGP	B	0.34%	0.44%	0.34%
	TRMB	B	0.14%	0.1%	0.1%
	TROW	B	0.21%	0.47%	0.21%
	TSCO	C	0.25%	0.16%	0.16%
	TSN	C	0.14%	0.15%	0.14%
	TXT	C	0.13%	0.16%	0.13%
	UAL	B	0.23%	0.51%	0.23%
	UDR	C	0.12%	0.09%	0.09%
	UHAL	C	0.05%	0.07%	0.05%
	UHAL	C	0.0%	0.01%	0.0%
	UHAL	C	0.05%	0.01%	0.01%
	UHAL	C	0.0%	0.07%	0.0%
	UHS	D	0.1%	0.12%	0.1%
	ULTA	C	0.15%	0.17%	0.15%
	UNM	A	0.09%	0.22%	0.09%
	URI	B	0.47%	0.54%	0.47%
	USFD	A	0.12%	0.13%	0.12%
	UTHR	B	0.15%	0.28%	0.15%
	VICI	D	0.27%	0.58%	0.27%
	VLTO	C	0.21%	0.18%	0.18%
	VST	B	0.4%	0.31%	0.31%
	VTR	C	0.21%	0.31%	0.21%
	VTRS	B	0.12%	0.28%	0.12%
	WAT	A	0.18%	0.15%	0.15%
	WBA	D	0.05%	0.12%	0.05%
	WBD	B	0.18%	0.36%	0.18%
	WDC	D	0.18%	0.4%	0.18%
	WEC	B	0.25%	0.55%	0.25%
	WLK	F	0.04%	0.05%	0.04%
	WMB	B	0.56%	1.22%	0.56%
	WPC	F	0.1%	0.22%	0.1%
	WRB	B	0.14%	0.14%	0.14%
	WSM	F	0.13%	0.1%	0.1%
	WTRG	C	0.08%	0.12%	0.08%
	WTW	A	0.26%	0.3%	0.26%
	WY	F	0.19%	0.41%	0.19%
	XEL	A	0.3%	0.66%	0.3%
	XPO	B	0.14%	0.11%	0.11%
	ZBH	C	0.18%	0.2%	0.18%
	ZBRA	A	0.17%	0.09%	0.09%
	ZM	B	0.17%	0.35%	0.17%

IWR Overweight 525 Positions Relative to IMCV

	Symbol	Grade	Weight
	PLTR	B	0.95%
	APP	B	0.62%
	AJG	A	0.52%
	HLT	A	0.49%
	TTD	B	0.45%
	FICO	B	0.45%
	COIN	B	0.43%
	GWW	B	0.42%
	FAST	A	0.39%
	PAYX	B	0.39%
	PWR	B	0.39%
	ROST	F	0.38%
	MSCI	B	0.37%
	HWM	A	0.37%
	AME	A	0.36%
	ODFL	B	0.36%
	VRT	B	0.36%
	AXON	B	0.35%
	IR	A	0.34%
	SQ	B	0.34%
	VRSK	A	0.33%
	IT	A	0.33%
	HES	C	0.32%
	A	F	0.32%
	MLM	B	0.31%
	SYY	B	0.31%
	YUM	B	0.31%
	VMC	B	0.31%
	RMD	C	0.3%
	DDOG	B	0.3%
	IDXX	D	0.29%
	MPWR	F	0.29%
	VEEV	B	0.28%
	ALNY	D	0.28%
	WAB	A	0.28%
	EFX	D	0.27%
	HUBS	B	0.26%
	TTWO	A	0.25%
	ARES	B	0.25%
	ROK	B	0.25%
	CSGP	D	0.25%
	ANSS	B	0.24%
	XYL	D	0.24%
	DXCM	C	0.23%
	DECK	B	0.22%
	RBLX	B	0.22%
	CDW	F	0.22%
	BRO	A	0.22%
	NET	B	0.22%
	MTD	F	0.22%
	TPL	B	0.21%
	FCNCA	B	0.21%
	CHD	B	0.21%
	BR	A	0.21%
	CVNA	B	0.21%
	TYL	B	0.21%
	HUBB	B	0.2%
	GDDY	A	0.2%
	PTC	B	0.19%
	LPLA	B	0.19%
	WST	B	0.19%
	EME	B	0.19%
	SBAC	D	0.19%
	ILMN	C	0.19%
	MDB	C	0.17%
	INVH	D	0.17%
	FSLR	F	0.17%
	TRU	D	0.17%
	CBOE	D	0.17%
	CSL	B	0.17%
	STE	F	0.17%
	LYV	B	0.16%
	LII	B	0.16%
	HOOD	B	0.16%
	ZS	B	0.15%
	IBKR	A	0.15%
	FDS	A	0.15%
	WSO	A	0.15%
	PODD	B	0.15%
	TOST	A	0.14%
	BURL	C	0.14%
	FWONK	A	0.14%
	NTNX	B	0.14%
	IEX	B	0.14%
	MANH	C	0.14%
	LVS	C	0.14%
	SUI	D	0.13%
	VRSN	C	0.13%
	DT	C	0.13%
	TWLO	A	0.13%
	GWRE	A	0.13%
	DPZ	C	0.13%
	DOCU	B	0.13%
	PSTG	D	0.13%
	FIX	B	0.13%
	HEI	B	0.13%
	SAIA	B	0.12%
	COHR	B	0.12%
	GGG	B	0.12%
	CW	B	0.12%
	NDSN	B	0.12%
	NTRA	B	0.12%
	TW	C	0.12%
	JKHY	C	0.11%
	PFGC	B	0.11%
	TXRH	A	0.11%
	CLH	B	0.11%
	SOFI	B	0.11%
	ROL	B	0.11%
	EWBC	B	0.11%
	LECO	C	0.1%
	TECH	B	0.1%
	DUOL	B	0.1%
	TPR	B	0.1%
	SMCI	F	0.1%
	DAY	C	0.1%
	OKTA	C	0.1%
	FTI	B	0.1%
	JEF	A	0.1%
	TTEK	C	0.1%
	AMH	C	0.1%
	CACI	C	0.1%
	ITT	A	0.1%
	NBIX	C	0.1%
	CHRW	A	0.1%
	NVT	B	0.1%
	BMRN	F	0.1%
	JLL	C	0.1%
	FND	F	0.09%
	DOX	C	0.09%
	CTLT	D	0.09%
	AFRM	B	0.09%
	WWD	B	0.09%
	FHN	A	0.09%
	LBRDK	C	0.09%
	AIZ	A	0.09%
	CUBE	D	0.09%
	SRPT	F	0.09%
	EVR	B	0.09%
	GNRC	B	0.09%
	CAVA	B	0.09%
	LAMR	D	0.09%
	AA	C	0.09%
	BWXT	A	0.09%
	HEI	B	0.09%
	SF	B	0.09%
	OWL	B	0.09%
	ATR	A	0.09%
	PAYC	B	0.09%
	LW	C	0.09%
	NCLH	B	0.09%
	Z	B	0.09%
	REXR	F	0.08%
	MORN	B	0.08%
	DCI	A	0.08%
	GME	C	0.08%
	LNW	F	0.08%
	PCTY	A	0.08%
	ROKU	C	0.08%
	EXAS	F	0.08%
	KNX	B	0.08%
	ITCI	C	0.08%
	FRT	C	0.08%
	AAON	B	0.08%
	TKO	D	0.08%
	WMS	F	0.08%
	KBR	B	0.08%
	DTM	B	0.08%
	MUSA	B	0.08%
	WAL	B	0.08%
	GL	B	0.08%
	GLOB	B	0.08%
	FBIN	F	0.08%
	PR	C	0.08%
	HLI	B	0.08%
	RGLD	C	0.08%
	WBS	A	0.08%
	NLY	C	0.08%
	INGR	B	0.08%
	WING	D	0.08%
	KNSL	C	0.08%
	LAD	B	0.08%
	MKTX	C	0.08%
	CHDN	C	0.08%
	AYI	B	0.08%
	EHC	A	0.08%
	OHI	C	0.08%
	ARMK	B	0.08%
	PRI	A	0.08%
	CIEN	B	0.08%
	EXP	B	0.08%
	PNW	B	0.08%
	EXEL	B	0.08%
	ALSN	A	0.08%
	SSD	D	0.07%
	G	B	0.07%
	VNO	C	0.07%
	SNV	B	0.07%
	CHRD	F	0.07%
	CFR	B	0.07%
	SKX	F	0.07%
	VOYA	B	0.07%
	HRB	D	0.07%
	CART	C	0.07%
	PLNT	A	0.07%
	CBSH	A	0.07%
	CHE	D	0.07%
	WTFC	B	0.07%
	CNM	D	0.07%
	ZION	B	0.07%
	OLED	F	0.07%
	APG	B	0.07%
	FYBR	D	0.07%
	EGP	C	0.07%
	OGE	B	0.07%
	WYNN	F	0.07%
	ONTO	F	0.07%
	CR	B	0.07%
	BRX	A	0.07%
	HSIC	F	0.07%
	PEN	B	0.07%
	GPK	D	0.07%
	RIVN	D	0.07%
	CMA	A	0.07%
	AXTA	A	0.07%
	CZR	F	0.07%
	ENPH	F	0.07%
	TTC	F	0.07%
	RL	B	0.07%
	HAS	D	0.07%
	WCC	B	0.07%
	MTZ	B	0.07%
	AAL	B	0.07%
	NYT	C	0.07%
	RBC	B	0.07%
	GMED	B	0.07%
	ORI	A	0.07%
	TPX	B	0.07%
	X	C	0.07%
	BRBR	A	0.07%
	MEDP	C	0.07%
	PNFP	B	0.07%
	AZEK	B	0.06%
	LSTR	B	0.06%
	H	B	0.06%
	VMI	B	0.06%
	R	A	0.06%
	ELAN	D	0.06%
	MASI	B	0.06%
	SN	C	0.06%
	GNTX	C	0.06%
	GXO	B	0.06%
	FR	C	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%
	LPX	B	0.06%
	RLI	A	0.06%
	ATI	D	0.06%
	VKTX	D	0.06%
	FRPT	B	0.06%
	WSC	F	0.06%
	VFC	C	0.06%
	OSK	B	0.06%
	RYAN	A	0.06%
	COKE	C	0.06%
	WH	A	0.06%
	CGNX	C	0.06%
	KEX	B	0.06%
	FMC	F	0.06%
	LSCC	D	0.06%
	PCOR	B	0.06%
	ESAB	B	0.06%
	MIDD	C	0.06%
	SMAR	A	0.06%
	ADC	A	0.06%
	WEX	D	0.06%
	S	B	0.06%
	JAZZ	B	0.06%
	MTSI	B	0.06%
	BWA	B	0.06%
	MHK	D	0.06%
	RHI	B	0.06%
	BERY	C	0.06%
	MKSI	C	0.06%
	NNN	F	0.06%
	SAIC	C	0.06%
	RRC	B	0.06%
	RGEN	C	0.06%
	MTCH	F	0.06%
	TREX	C	0.06%
	FLS	B	0.06%
	BILL	A	0.06%
	SEIC	A	0.06%
	THO	B	0.05%
	VVV	B	0.05%
	CRUS	F	0.05%
	LITE	A	0.05%
	JHG	B	0.05%
	BC	C	0.05%
	THG	A	0.05%
	AGCO	F	0.05%
	INSP	F	0.05%
	FNB	A	0.05%
	IDA	A	0.05%
	PVH	C	0.05%
	AMG	B	0.05%
	WHR	B	0.05%
	PATH	C	0.05%
	OLLI	C	0.05%
	CROX	F	0.05%
	U	F	0.05%
	STWD	D	0.05%
	IONS	F	0.05%
	VNT	B	0.05%
	CLF	D	0.05%
	ETSY	C	0.05%
	OMF	A	0.05%
	FOUR	B	0.05%
	LFUS	D	0.05%
	MTG	C	0.05%
	BRKR	F	0.05%
	WFRD	D	0.05%
	KD	A	0.05%
	COLB	B	0.05%
	LAZ	C	0.05%
	ARW	F	0.05%
	ESI	B	0.05%
	MSA	D	0.05%
	DAR	B	0.05%
	ALK	A	0.05%
	LYFT	B	0.05%
	NOV	C	0.05%
	ELF	C	0.05%
	FAF	C	0.05%
	COLD	F	0.05%
	DBX	B	0.05%
	IVZ	C	0.05%
	AXS	A	0.05%
	CFLT	B	0.05%
	PARA	C	0.05%
	MAT	C	0.05%
	AZPN	A	0.05%
	MTDR	C	0.05%
	AWI	B	0.05%
	BFAM	F	0.05%
	BPOP	C	0.05%
	MTN	D	0.05%
	SITE	D	0.05%
	STAG	D	0.05%
	BBWI	C	0.05%
	HR	C	0.05%
	BSY	F	0.05%
	GFS	C	0.04%
	GAP	B	0.04%
	DLB	C	0.04%
	EEFT	C	0.04%
	SLGN	A	0.04%
	RARE	D	0.04%
	AGO	B	0.04%
	RYN	F	0.04%
	SEE	C	0.04%
	WTM	A	0.04%
	FIVE	F	0.04%
	CUZ	C	0.04%
	HCP	A	0.04%
	KRC	C	0.04%
	OZK	B	0.04%
	AL	B	0.04%
	TKR	F	0.04%
	ST	F	0.04%
	RH	C	0.04%
	UGI	D	0.04%
	SON	D	0.04%
	HXL	D	0.04%
	SLM	B	0.04%
	LOPE	B	0.04%
	ROIV	C	0.04%
	AVT	C	0.04%
	BYD	A	0.04%
	CELH	F	0.04%
	PSN	B	0.04%
	BROS	B	0.04%
	NXST	C	0.04%
	CCCS	B	0.04%
	APPF	B	0.04%
	AM	B	0.04%
	OLN	D	0.04%
	LNC	B	0.04%
	CIVI	F	0.04%
	NFG	C	0.04%
	LEA	F	0.04%
	POST	D	0.04%
	RITM	C	0.04%
	VNOM	C	0.04%
	TPG	B	0.04%
	AMKR	F	0.03%
	AMED	F	0.03%
	PENN	B	0.03%
	BHF	B	0.03%
	RNG	B	0.03%
	APLS	F	0.03%
	ECG	C	0.03%
	YETI	C	0.03%
	LBTYA	F	0.03%
	LBTYK	F	0.03%
	VAC	B	0.03%
	HUN	F	0.03%
	WEN	C	0.03%
	ZG	B	0.03%
	EPR	D	0.03%
	IRDM	C	0.03%
	NCNO	B	0.03%
	FHB	B	0.03%
	NVST	C	0.03%
	PII	F	0.03%
	HIW	D	0.03%
	PRGO	C	0.03%
	TNL	A	0.03%
	XRAY	F	0.03%
	SPR	F	0.03%
	MDU	F	0.03%
	W	F	0.03%
	ACHC	F	0.03%
	DNB	B	0.03%
	ZI	D	0.03%
	NEU	C	0.03%
	NWL	B	0.03%
	PEGA	A	0.03%
	DXC	B	0.03%
	HOG	F	0.03%
	IAC	F	0.03%
	FLO	F	0.03%
	CHH	B	0.03%
	ASH	F	0.03%
	MSM	B	0.03%
	KMPR	A	0.03%
	LINE	F	0.03%
	AMTM	D	0.03%
	OGN	F	0.03%
	AN	C	0.03%
	MSGS	C	0.03%
	GTES	B	0.03%
	M	D	0.03%
	CLVT	F	0.02%
	VSTS	D	0.02%
	KSS	F	0.02%
	CNXC	F	0.02%
	FTRE	D	0.02%
	ALAB	B	0.02%
	RKT	F	0.02%
	LCID	F	0.02%
	RCM	B	0.02%
	AAP	D	0.02%
	HAYW	C	0.02%
	PPC	B	0.02%
	ADT	B	0.02%
	JWN	B	0.02%
	IPGP	C	0.02%
	CPRI	F	0.02%
	CWEN	D	0.02%
	QDEL	F	0.02%
	AZTA	F	0.02%
	PINC	A	0.02%
	SHC	D	0.02%
	SPB	B	0.02%
	ENOV	C	0.02%
	MP	C	0.02%
	WU	F	0.02%
	BOKF	B	0.02%
	HHH	B	0.02%
	ALGM	F	0.02%
	FIVN	C	0.02%
	SAM	B	0.02%
	CXT	D	0.02%
	VIRT	B	0.02%
	CACC	D	0.02%
	DV	C	0.02%
	COLM	B	0.02%
	LLYVK	B	0.02%
	TDC	D	0.02%
	MPW	F	0.02%
	CC	C	0.02%
	NSA	D	0.02%
	MAN	F	0.02%
	PK	B	0.02%
	SMG	D	0.02%
	UWMC	F	0.01%
	SEB	D	0.01%
	TFSL	A	0.01%
	CWEN	D	0.01%
	LOAR	C	0.01%
	CNA	C	0.01%
	AS	B	0.01%
	DDS	C	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%
	CAR	C	0.01%
	LEG	F	0.01%
	INFA	D	0.01%
	TXG	F	0.01%
	TRIP	D	0.01%
	LBRDA	C	0.01%
	UA	B	0.01%
	GO	C	0.01%
	FWONA	A	0.01%
	CRI	D	0.01%
	QS	F	0.01%
	UAA	B	0.01%
	BIRK	F	0.01%
	DJT	D	0.01%
	PARAA	B	0.0%
	SEG	F	0.0%
	GRAL	B	0.0%
	NFE	F	0.0%
	PLTK	B	0.0%

IWR Underweight 26 Positions Relative to IMCV

	Symbol	Grade	Weight
	COF	B	-1.26%
	GM	A	-1.11%
	NSC	B	-1.09%
	TFC	B	-1.07%
	PCAR	B	-1.05%
	SRE	A	-1.02%
	AEP	D	-0.91%
	AIG	B	-0.87%
	GEV	B	-0.8%
	VLO	D	-0.78%
	F	C	-0.77%
	TRV	B	-0.6%
	KHC	F	-0.52%
	KMB	F	-0.52%
	PSA	C	-0.5%
	D	D	-0.49%
	CARR	C	-0.47%
	JCI	A	-0.42%
	KDP	D	-0.41%
	TEL	B	-0.4%
	NEM	F	-0.4%
	STX	D	-0.38%
	DELL	B	-0.36%
	STZ	D	-0.31%
	FLEX	B	-0.2%
	MRNA	F	-0.16%

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

IMCV: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Oil & Gas E&P Packaged Foods Specialty Retail Asset Management Banks - Regional - US Insurance - Property & Casualty REIT - Residential Specialty Chemicals Utilities - Diversified Business Services Diagnostics & Research Diversified Industrials Packaging & Containers Oil & Gas Midstream Residential Construction Scientific & Technical Instruments Biotechnology Broadcasting - TV Building Materials

Keywords: S&P 500 Natural Gas Electricity Nasdaq 100 Insurance Real Estate Investment Trust Aerospace Electronics Insurance Products Beverage Computing Bank Chemical Banking Building Materials Disability Food Products Petroleum Industry Telecommunications Financial Products