IWS vs. FAB ETF Comparison

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

IWS

iShares Russell Mid-cap Value ETF

IWS Description

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

Grade (RS Rating)

Last Trade

$131.68

Average Daily Volume

299,450

Number of Holdings ^*

705

* 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

$85.02

Average Daily Volume

4,786

Number of Holdings ^*

660

* may have additional holdings in another (foreign) market

Performance

Period	IWS	FAB
30 Days	3.99%	4.01%
60 Days	5.45%	2.84%
90 Days	8.99%	8.64%
12 Months	24.45%	21.57%

290 Overlapping Holdings

Symbol	Grade	Weight in IWS	Weight in FAB	Overlap
AAP	F	0.03%	0.03%	0.03%
ACGL	C	0.46%	0.48%	0.46%
ADM	D	0.34%	0.43%	0.34%
AEE	C	0.26%	0.41%	0.26%
AFG	B	0.11%	0.05%	0.05%
AFL	C	0.71%	0.31%	0.31%
AGCO	D	0.07%	0.2%	0.07%
AGNC	B	0.08%	0.14%	0.08%
AGO	C	0.05%	0.22%	0.05%
AIZ	B	0.12%	0.1%	0.1%
AL	D	0.05%	0.19%	0.05%
ALK	C	0.06%	0.13%	0.06%
ALLY	F	0.09%	0.14%	0.09%
AMG	C	0.06%	0.23%	0.06%
AMKR	F	0.04%	0.06%	0.04%
AN	D	0.05%	0.17%	0.05%
APA	F	0.1%	0.14%	0.1%
APTV	D	0.21%	0.42%	0.21%
AR	F	0.09%	0.04%	0.04%
ARE	C	0.25%	0.18%	0.18%
ARW	C	0.08%	0.18%	0.08%
ASH	D	0.05%	0.12%	0.05%
ATO	B	0.24%	0.41%	0.24%
AVT	C	0.05%	0.17%	0.05%
AWK	B	0.33%	0.1%	0.1%
AXS	B	0.07%	0.14%	0.07%
AYI	B	0.09%	0.09%	0.09%
BBWI	F	0.07%	0.09%	0.07%
BBY	C	0.24%	0.3%	0.24%
BC	C	0.06%	0.14%	0.06%
BEN	F	0.07%	0.31%	0.07%
BERY	B	0.09%	0.14%	0.09%
BG	D	0.16%	0.4%	0.16%
BHF	F	0.03%	0.04%	0.03%
BIIB	F	0.33%	0.07%	0.07%
BJ	D	0.12%	0.04%	0.04%
BKR	C	0.38%	0.24%	0.24%
BOKF	B	0.03%	0.1%	0.03%
BPOP	C	0.07%	0.05%	0.05%
BWA	D	0.08%	0.17%	0.08%
BYD	C	0.05%	0.19%	0.05%
CACC	F	0.01%	0.04%	0.01%
CACI	B	0.12%	0.05%	0.05%
CAG	C	0.18%	0.39%	0.18%
CAR	F	0.01%	0.06%	0.01%
CBRE	A	0.42%	0.11%	0.11%
CCK	A	0.12%	0.05%	0.05%
CE	F	0.12%	0.39%	0.12%
CF	C	0.17%	0.46%	0.17%
CFG	C	0.21%	0.39%	0.21%
CHK	D	0.11%	0.19%	0.11%
CHRD	F	0.09%	0.14%	0.09%
CHTR	D	0.37%	0.29%	0.29%
CINF	C	0.24%	0.5%	0.24%
CLF	F	0.04%	0.16%	0.04%
CMA	B	0.09%	0.1%	0.09%
CMI	C	0.47%	0.09%	0.09%
CMS	C	0.24%	0.3%	0.24%
CNC	D	0.46%	0.4%	0.4%
CNP	C	0.2%	0.23%	0.2%
CNXC	F	0.04%	0.23%	0.04%
COLB	B	0.06%	0.2%	0.06%
COLM	C	0.03%	0.09%	0.03%
CPB	C	0.11%	0.19%	0.11%
CRI	D	0.03%	0.11%	0.03%
CROX	D	0.07%	0.08%	0.07%
CRUS	D	0.08%	0.05%	0.05%
CTRA	F	0.19%	0.37%	0.19%
CTSH	C	0.44%	0.39%	0.39%
CTVA	B	0.45%	0.09%	0.09%
CUZ	B	0.05%	0.16%	0.05%
CWEN	C	0.01%	0.03%	0.01%
CWEN	C	0.03%	0.03%	0.03%
CZR	C	0.1%	0.12%	0.1%
DAR	F	0.06%	0.2%	0.06%
DD	B	0.39%	0.09%	0.09%
DDS	F	0.01%	0.1%	0.01%
DG	F	0.21%	0.05%	0.05%
DGX	B	0.2%	0.29%	0.2%
DHI	B	0.66%	0.59%	0.59%
DINO	F	0.08%	0.18%	0.08%
DKS	D	0.13%	0.08%	0.08%
DNB	C	0.04%	0.11%	0.04%
DOV	B	0.29%	0.18%	0.18%
DOW	D	0.4%	0.17%	0.17%
DTE	C	0.3%	0.29%	0.29%
DTM	B	0.09%	0.09%	0.09%
DVN	F	0.28%	0.37%	0.28%
DXC	C	0.04%	0.19%	0.04%
EBAY	B	0.37%	0.41%	0.37%
ED	C	0.41%	0.41%	0.41%
EG	C	0.16%	0.44%	0.16%
EHC	C	0.11%	0.05%	0.05%
EIX	C	0.37%	0.3%	0.3%
EMN	B	0.14%	0.13%	0.13%
ENOV	D	0.03%	0.02%	0.02%
EPAM	F	0.12%	0.19%	0.12%
EQR	B	0.34%	0.29%	0.29%
EQT	D	0.21%	0.39%	0.21%
ETR	B	0.31%	0.51%	0.31%
EVRG	B	0.16%	0.2%	0.16%
EWBC	D	0.13%	0.14%	0.13%
EXC	C	0.46%	0.51%	0.46%
EXPD	C	0.16%	0.08%	0.08%
FAF	B	0.08%	0.1%	0.08%
FANG	D	0.35%	0.37%	0.35%
FE	C	0.29%	0.29%	0.29%
FHB	D	0.03%	0.08%	0.03%
FHN	D	0.1%	0.13%	0.1%
FITB	B	0.33%	0.29%	0.29%
FMC	C	0.09%	0.23%	0.09%
FNB	C	0.06%	0.13%	0.06%
FNF	B	0.18%	0.21%	0.18%
FOXA	B	0.11%	0.5%	0.11%
FYBR	C	0.1%	0.24%	0.1%
G	C	0.08%	0.21%	0.08%
GAP	F	0.05%	0.11%	0.05%
GIS	B	0.48%	0.3%	0.3%
GL	C	0.11%	0.16%	0.11%
GO	F	0.02%	0.02%	0.02%
GPC	D	0.22%	0.17%	0.17%
GPN	D	0.32%	0.5%	0.32%
GXO	D	0.07%	0.04%	0.04%
HAL	F	0.28%	0.29%	0.28%
HBAN	B	0.24%	0.38%	0.24%
HIG	B	0.39%	0.4%	0.39%
HII	D	0.12%	0.14%	0.12%
HIW	B	0.04%	0.12%	0.04%
HLI	B	0.08%	0.05%	0.05%
HOG	C	0.05%	0.23%	0.05%
HPE	D	0.25%	0.35%	0.25%
HPQ	D	0.28%	0.17%	0.17%
HRL	C	0.11%	0.18%	0.11%
HSIC	C	0.1%	0.05%	0.05%
HSY	C	0.29%	0.19%	0.19%
HUM	F	0.44%	0.07%	0.07%
IAC	C	0.04%	0.09%	0.04%
IDA	C	0.06%	0.1%	0.06%
INCY	C	0.13%	0.27%	0.13%
IP	B	0.19%	0.05%	0.05%
IPG	C	0.13%	0.37%	0.13%
IPGP	F	0.02%	0.1%	0.02%
IVZ	B	0.07%	0.05%	0.05%
J	C	0.21%	0.09%	0.09%
JAZZ	D	0.08%	0.13%	0.08%
JBHT	D	0.16%	0.27%	0.16%
JBL	D	0.13%	0.24%	0.13%
JEF	B	0.09%	0.05%	0.05%
JLL	B	0.1%	0.05%	0.05%
K	B	0.24%	0.12%	0.12%
KEX	C	0.08%	0.04%	0.04%
KEY	B	0.17%	0.2%	0.17%
KIM	C	0.18%	0.21%	0.18%
KMI	B	0.47%	0.37%	0.37%
KNX	C	0.1%	0.14%	0.1%
KR	C	0.42%	0.28%	0.28%
KRC	C	0.05%	0.2%	0.05%
KSS	F	0.03%	0.11%	0.03%
KVUE	C	0.51%	0.11%	0.11%
L	C	0.16%	0.37%	0.16%
LAD	D	0.09%	0.23%	0.09%
LBRDK	F	0.06%	0.24%	0.06%
LEA	F	0.07%	0.16%	0.07%
LEN	B	0.02%	0.53%	0.02%
LEN	B	0.51%	0.53%	0.51%
LFUS	C	0.07%	0.04%	0.04%
LHX	C	0.5%	0.09%	0.09%
LKQ	F	0.12%	0.33%	0.12%
LNC	D	0.06%	0.16%	0.06%
LNG	C	0.23%	0.36%	0.23%
LNT	B	0.17%	0.1%	0.1%
LPX	B	0.02%	0.1%	0.02%
LSTR	D	0.08%	0.04%	0.04%
LUV	C	0.2%	0.26%	0.2%
LYB	D	0.28%	0.34%	0.28%
M	F	0.05%	0.1%	0.05%
MAA	B	0.22%	0.1%	0.1%
MAT	C	0.07%	0.05%	0.05%
MDU	C	0.06%	0.18%	0.06%
MIDD	D	0.08%	0.09%	0.08%
MKC	C	0.24%	0.1%	0.1%
MKL	C	0.18%	0.43%	0.18%
MOH	D	0.09%	0.21%	0.09%
MOS	F	0.1%	0.19%	0.1%
MTB	B	0.32%	0.38%	0.32%
MTDR	F	0.06%	0.18%	0.06%
MTG	B	0.08%	0.25%	0.08%
NFG	B	0.06%	0.19%	0.06%
NI	B	0.17%	0.15%	0.15%
NOV	F	0.07%	0.18%	0.07%
NRG	C	0.12%	0.13%	0.12%
NUE	F	0.4%	0.39%	0.39%
NVST	D	0.04%	0.05%	0.04%
NXST	D	0.04%	0.13%	0.04%
OC	D	0.16%	0.33%	0.16%
OGE	C	0.09%	0.15%	0.09%
OGN	D	0.06%	0.17%	0.06%
OKE	B	0.61%	0.19%	0.19%
OLN	D	0.06%	0.12%	0.06%
OMC	B	0.22%	0.19%	0.19%
OMF	D	0.06%	0.12%	0.06%
ORI	B	0.1%	0.1%	0.1%
OSK	F	0.08%	0.16%	0.08%
OVV	F	0.12%	0.18%	0.12%
OZK	D	0.05%	0.17%	0.05%
PAG	D	0.03%	0.13%	0.03%
PARA	F	0.07%	0.04%	0.04%
PB	B	0.08%	0.1%	0.08%
PCG	C	0.48%	0.4%	0.4%
PEG	C	0.48%	0.2%	0.2%
PFG	B	0.22%	0.09%	0.09%
PII	D	0.05%	0.13%	0.05%
PKG	B	0.21%	0.2%	0.2%
PNFP	B	0.08%	0.15%	0.08%
PNW	C	0.12%	0.2%	0.12%
PPG	D	0.34%	0.17%	0.17%
PRGO	D	0.04%	0.09%	0.04%
PRU	C	0.48%	0.08%	0.08%
PVH	F	0.06%	0.19%	0.06%
R	A	0.07%	0.19%	0.07%
REYN	C	0.02%	0.1%	0.02%
RF	B	0.23%	0.28%	0.23%
RGA	C	0.16%	0.04%	0.04%
RHI	D	0.07%	0.04%	0.04%
RJF	C	0.26%	0.08%	0.08%
RNR	C	0.15%	0.25%	0.15%
RRC	D	0.08%	0.11%	0.08%
RS	D	0.18%	0.34%	0.18%
RYN	C	0.05%	0.09%	0.05%
SAIC	C	0.08%	0.1%	0.08%
SEB	D	0.01%	0.21%	0.01%
SEE	D	0.03%	0.04%	0.03%
SEIC	C	0.08%	0.09%	0.08%
SJM	C	0.14%	0.38%	0.14%
SKX	D	0.09%	0.08%	0.08%
SLGN	B	0.05%	0.1%	0.05%
SLM	D	0.05%	0.09%	0.05%
SNA	C	0.17%	0.37%	0.17%
SNDR	B	0.02%	0.11%	0.02%
SNV	C	0.08%	0.05%	0.05%
SNX	D	0.1%	0.08%	0.08%
SON	C	0.06%	0.14%	0.06%
SPB	C	0.03%	0.13%	0.03%
SSNC	B	0.19%	0.21%	0.19%
STLD	F	0.19%	0.37%	0.19%
STT	B	0.29%	0.29%	0.29%
SWKS	D	0.19%	0.24%	0.19%
SYF	C	0.22%	0.43%	0.22%
SYY	D	0.17%	0.09%	0.09%
TAP	D	0.11%	0.23%	0.11%
TDY	B	0.23%	0.28%	0.23%
TFX	C	0.13%	0.05%	0.05%
THC	A	0.18%	0.21%	0.18%
THO	D	0.06%	0.14%	0.06%
TKR	D	0.06%	0.13%	0.06%
TROW	D	0.26%	0.32%	0.26%
TSN	C	0.2%	0.09%	0.09%
TXT	D	0.19%	0.26%	0.19%
UAA	C	0.02%	0.14%	0.02%
UAL	C	0.19%	0.45%	0.19%
UGI	C	0.06%	0.09%	0.06%
UHAL	A	0.05%	0.39%	0.05%
UHAL	A	0.0%	0.39%	0.0%
UHS	B	0.15%	0.22%	0.15%
UNM	B	0.12%	0.18%	0.12%
USFD	B	0.16%	0.05%	0.05%
UTHR	C	0.17%	0.14%	0.14%
VAC	F	0.03%	0.06%	0.03%
VNO	C	0.07%	0.06%	0.06%
VOYA	B	0.09%	0.05%	0.05%
VTR	C	0.3%	0.11%	0.11%
VTRS	D	0.16%	0.39%	0.16%
WAL	B	0.1%	0.16%	0.1%
WBD	D	0.24%	0.36%	0.24%
WBS	D	0.09%	0.17%	0.09%
WCC	D	0.08%	0.13%	0.08%
WEC	C	0.35%	0.31%	0.31%
WHR	D	0.06%	0.08%	0.06%
WLK	D	0.05%	0.08%	0.05%
WPC	C	0.16%	0.29%	0.16%
WRB	C	0.21%	0.19%	0.19%
WTFC	C	0.08%	0.14%	0.08%
WTM	D	0.05%	0.2%	0.05%
WTRG	D	0.11%	0.09%	0.09%
WU	F	0.03%	0.13%	0.03%
WY	C	0.27%	0.19%	0.19%
XEL	B	0.41%	0.42%	0.41%
ZBH	F	0.25%	0.25%	0.25%
ZION	D	0.08%	0.09%	0.08%
ZM	C	0.19%	0.29%	0.19%

IWS Overweight 415 Positions Relative to FAB

Symbol	Grade	Weight
AJG	D	0.69%
WMB	B	0.63%
O	C	0.62%
DLR	B	0.59%
BK	B	0.59%
CCI	C	0.59%
FIS	B	0.54%
ALL	B	0.48%
MCHP	F	0.47%
A	C	0.46%
EA	D	0.45%
ROST	C	0.45%
SPG	B	0.45%
OTIS	C	0.44%
IQV	C	0.44%
AME	C	0.44%
EXR	B	0.43%
FERG	D	0.42%
IR	C	0.42%
URI	B	0.42%
VICI	C	0.41%
HWM	B	0.41%
DFS	C	0.38%
AVB	B	0.38%
GEHC	C	0.38%
CSGP	D	0.37%
GLW	C	0.37%
XYL	D	0.36%
NDAQ	A	0.35%
MLM	D	0.35%
ON	D	0.35%
WAB	A	0.34%
WTW	C	0.34%
EFX	B	0.34%
DAL	C	0.33%
PHM	B	0.33%
MTD	D	0.33%
ANSS	D	0.32%
NVR	B	0.32%
PAYX	C	0.32%
GRMN	D	0.31%
PWR	B	0.31%
ROK	D	0.31%
FTV	C	0.3%
HLT	B	0.3%
RCL	B	0.3%
SBAC	C	0.3%
KEYS	C	0.3%
RMD	C	0.3%
IFF	B	0.3%
CHD	D	0.29%
TTWO	C	0.29%
STE	C	0.28%
FSLR	C	0.28%
YUM	D	0.27%
VMC	D	0.27%
ES	C	0.27%
PPL	C	0.27%
INVH	C	0.26%
COO	B	0.25%
HUBB	B	0.25%
FCNCA	D	0.25%
CBOE	C	0.25%
ILMN	C	0.24%
BALL	C	0.24%
SQ	D	0.24%
MSTR	D	0.24%
LDOS	B	0.24%
WDC	D	0.24%
BLDR	C	0.23%
ESS	B	0.23%
BAX	C	0.23%
NTRS	A	0.21%
SUI	B	0.21%
MSCI	C	0.21%
AVTR	B	0.21%
TRU	B	0.21%
LH	C	0.21%
HOLX	C	0.21%
CCL	C	0.2%
MAS	B	0.2%
WSO	C	0.19%
CSL	B	0.19%
UDR	C	0.18%
SWK	B	0.18%
TOL	B	0.18%
AMCR	B	0.18%
BMRN	F	0.18%
DOC	C	0.18%
IRM	C	0.17%
HOOD	C	0.17%
CDW	D	0.17%
VRSN	D	0.17%
AKAM	D	0.17%
GEN	B	0.17%
MRO	D	0.17%
VLTO	C	0.17%
RVTY	B	0.17%
IEX	D	0.17%
PNR	B	0.17%
ZBRA	B	0.16%
GLPI	C	0.16%
REG	C	0.16%
TRMB	C	0.16%
AMH	C	0.16%
GGG	C	0.16%
BRO	C	0.16%
ELS	C	0.16%
NDSN	C	0.16%
DLTR	F	0.16%
CLH	A	0.15%
JKHY	B	0.15%
CPT	B	0.15%
AES	C	0.15%
ACM	B	0.15%
NTAP	D	0.15%
IBKR	B	0.15%
RPM	B	0.14%
CW	B	0.14%
CUBE	C	0.14%
HST	C	0.14%
FFIV	B	0.14%
ALLE	B	0.14%
JNPR	B	0.14%
BXP	B	0.14%
HES	F	0.14%
FDS	C	0.13%
NVT	D	0.13%
RIVN	F	0.13%
AVY	C	0.13%
CAH	C	0.13%
ITT	B	0.13%
EME	B	0.13%
BLD	D	0.13%
SCI	B	0.13%
CHRW	B	0.13%
KMX	D	0.13%
SW	B	0.13%
TECH	C	0.13%
CASY	D	0.13%
CRL	F	0.12%
ATR	B	0.12%
ALB	D	0.12%
RRX	C	0.12%
NLY	B	0.12%
COHR	C	0.12%
NTNX	C	0.12%
QRVO	F	0.12%
FBIN	B	0.12%
FTI	D	0.12%
CTLT	B	0.12%
RPRX	C	0.12%
REXR	C	0.12%
MTCH	C	0.11%
RGLD	C	0.11%
Z	B	0.11%
MKTX	C	0.11%
AOS	D	0.11%
PFGC	B	0.11%
TTEK	C	0.11%
CVNA	B	0.11%
FRT	C	0.11%
SOLV	C	0.11%
TPR	C	0.11%
WWD	D	0.11%
DOX	C	0.11%
NWSA	D	0.11%
FWONK	C	0.11%
ARMK	B	0.11%
AFRM	C	0.11%
OHI	B	0.11%
TWLO	D	0.1%
MHK	C	0.1%
DCI	C	0.1%
LAMR	B	0.1%
WST	D	0.1%
SF	A	0.1%
BRX	B	0.1%
NYT	C	0.1%
TTC	D	0.1%
EVR	A	0.1%
CG	D	0.1%
MGM	F	0.1%
INGR	B	0.1%
NNN	C	0.1%
EGP	B	0.1%
PRI	B	0.1%
CNH	D	0.1%
DRI	B	0.1%
DPZ	F	0.1%
GPK	B	0.1%
CBSH	C	0.09%
FR	B	0.09%
CR	C	0.09%
WSM	D	0.09%
WAT	C	0.09%
ALGN	D	0.09%
WEX	C	0.09%
ADC	C	0.09%
FND	C	0.09%
KBR	D	0.09%
AXTA	B	0.09%
ATI	D	0.09%
ALSN	B	0.09%
BRBR	C	0.09%
GWRE	A	0.09%
COKE	C	0.09%
CHE	C	0.09%
FCN	D	0.09%
GMED	D	0.09%
APG	D	0.09%
TKO	B	0.09%
DAY	D	0.09%
ACI	F	0.09%
ROKU	C	0.09%
X	F	0.09%
CIEN	C	0.09%
PTC	D	0.09%
RBC	C	0.09%
AA	D	0.09%
TW	B	0.09%
COLD	D	0.09%
MSA	D	0.08%
WBA	F	0.08%
PR	F	0.08%
RGEN	D	0.08%
GNTX	F	0.08%
SOFI	C	0.08%
RL	C	0.08%
SWN	D	0.08%
BFAM	C	0.08%
SSD	D	0.08%
FICO	B	0.08%
MKSI	F	0.08%
HRB	C	0.08%
ACHC	C	0.08%
LECO	F	0.08%
MTZ	B	0.08%
HR	C	0.08%
BWXT	D	0.08%
ELAN	D	0.08%
EXAS	C	0.08%
ONTO	D	0.08%
STAG	C	0.08%
WYNN	D	0.08%
POST	C	0.07%
SRCL	A	0.07%
ESI	D	0.07%
RITM	B	0.07%
RLI	B	0.07%
SIRI	C	0.07%
OLLI	C	0.07%
AZPN	B	0.07%
WMS	D	0.07%
FLS	D	0.07%
FAST	C	0.07%
BIO	C	0.07%
LW	D	0.07%
CGNX	F	0.07%
STWD	A	0.07%
OKTA	F	0.07%
CART	A	0.07%
CFR	C	0.07%
VFC	C	0.07%
AAL	D	0.07%
OLED	C	0.06%
CCCS	D	0.06%
FOX	B	0.06%
HXL	F	0.06%
WSC	D	0.06%
VNT	F	0.06%
COIN	F	0.06%
ST	D	0.06%
KD	D	0.06%
THG	B	0.06%
XRAY	D	0.06%
H	C	0.06%
SN	B	0.06%
VMI	D	0.06%
GME	F	0.06%
WH	B	0.06%
GWW	B	0.06%
ESAB	C	0.06%
MTSI	D	0.06%
SITE	C	0.05%
BILL	D	0.05%
ROIV	C	0.05%
DLB	F	0.05%
GNRC	D	0.05%
DBX	D	0.05%
EEFT	D	0.05%
CPRI	D	0.05%
FLO	C	0.05%
W	D	0.05%
S	C	0.05%
DOCS	B	0.05%
FRPT	B	0.05%
PSN	B	0.05%
JHG	B	0.05%
SAIA	D	0.05%
AMED	C	0.04%
AM	C	0.04%
PAYC	D	0.04%
NWS	D	0.04%
NWL	C	0.04%
PLNT	B	0.04%
ZI	D	0.04%
U	D	0.04%
LBTYA	B	0.04%
SPR	D	0.04%
MAN	C	0.04%
NSA	B	0.04%
LCID	C	0.04%
MSGS	B	0.04%
LBTYK	B	0.04%
GTES	C	0.04%
COTY	F	0.04%
TPG	B	0.04%
MSM	D	0.04%
KMPR	D	0.04%
HUN	D	0.04%
EPR	B	0.04%
AWI	B	0.04%
TYL	C	0.04%
ALNY	C	0.04%
LITE	B	0.04%
MPW	C	0.04%
NEU	D	0.04%
CIVI	F	0.04%
RH	B	0.04%
GFS	F	0.04%
AMP	A	0.04%
BR	D	0.03%
RCM	C	0.03%
ETSY	F	0.03%
JWN	C	0.03%
EXP	B	0.03%
MASI	F	0.03%
CNM	F	0.03%
YETI	D	0.03%
HHH	C	0.03%
PINC	C	0.03%
ULTA	D	0.03%
CC	F	0.03%
QDEL	D	0.03%
SHC	C	0.03%
BRKR	D	0.03%
AGR	B	0.03%
AZTA	F	0.03%
CLVT	D	0.03%
VIRT	C	0.03%
RKT	C	0.03%
VNOM	C	0.03%
ZG	B	0.03%
LOPE	D	0.03%
CXT	D	0.03%
TNL	D	0.03%
PK	D	0.03%
IRDM	D	0.03%
SMG	C	0.03%
PENN	D	0.03%
TRIP	F	0.02%
UA	D	0.02%
WEN	C	0.02%
PPC	D	0.02%
INFA	D	0.02%
LEG	D	0.02%
ALGM	F	0.02%
FTRE	D	0.02%
AS	C	0.02%
MP	D	0.02%
TER	D	0.02%
BIRK	F	0.02%
PSTG	F	0.02%
BROS	D	0.02%
LLYVK	B	0.02%
HAYW	C	0.02%
AZEK	C	0.02%
VSTS	D	0.02%
SAM	F	0.02%
ADT	D	0.02%
GLOB	D	0.02%
QS	F	0.02%
LAZ	B	0.01%
UI	B	0.01%
IONS	F	0.01%
PLTK	C	0.01%
CHH	C	0.01%
TFSL	C	0.01%
PATH	D	0.01%
HCP	B	0.01%
LBRDA	F	0.01%
LSCC	D	0.01%
LLYVA	B	0.01%
TXG	D	0.01%
PYCR	D	0.01%
ALAB	D	0.01%
NCNO	D	0.01%
MTN	D	0.01%
WOLF	F	0.01%
DV	F	0.01%
FIVE	D	0.01%
FWONA	C	0.01%
HAS	B	0.01%
LYFT	D	0.01%
EXEL	C	0.01%
CERT	F	0.01%
CNA	C	0.01%
SEG	C	0.0%
LOAR	C	0.0%
PARAA	D	0.0%
UWMC	D	0.0%
GRAL	F	0.0%
NFE	F	0.0%
DJT	F	0.0%

IWS Underweight 373 Positions Relative to FAB

Symbol	Grade	Weight
T	C	-0.5%
BRK.A	C	-0.49%
GM	C	-0.44%
CMCSA	D	-0.44%
CVS	D	-0.43%
MPC	F	-0.41%
AEP	C	-0.41%
EOG	D	-0.41%
CB	B	-0.4%
CVX	D	-0.39%
PSX	F	-0.39%
COP	D	-0.39%
VLO	F	-0.38%
KHC	C	-0.38%
F	F	-0.37%
VZ	B	-0.37%
AIG	D	-0.35%
COF	B	-0.35%
OXY	F	-0.35%
XOM	C	-0.34%
DUK	C	-0.3%
D	C	-0.3%
WFC	D	-0.3%
SRE	C	-0.28%
MHO	B	-0.28%
USB	B	-0.28%
DE	B	-0.27%
MTH	A	-0.26%
TEL	D	-0.25%
BAC	D	-0.25%
GPI	B	-0.25%
RUSHA	C	-0.25%
KBH	A	-0.25%
TMHC	A	-0.25%
RDN	C	-0.24%
ESNT	B	-0.24%
JXN	A	-0.24%
CRBG	D	-0.24%
FDX	C	-0.24%
ESGR	D	-0.23%
ASO	C	-0.23%
C	D	-0.23%
NEE	C	-0.21%
BTU	D	-0.21%
SIG	C	-0.21%
PYPL	B	-0.21%
LMT	C	-0.21%
HCA	B	-0.21%
JNJ	C	-0.2%
LBRT	D	-0.2%
NOG	D	-0.2%
TPH	C	-0.2%
TEX	F	-0.2%
PNC	B	-0.2%
LOW	B	-0.2%
MDT	C	-0.2%
TRV	C	-0.2%
VLY	C	-0.2%
CADE	C	-0.19%
BKH	B	-0.19%
POR	C	-0.19%
APD	B	-0.19%
COOP	C	-0.19%
BCC	C	-0.19%
OGS	B	-0.19%
SM	F	-0.19%
KDP	B	-0.19%
TGT	C	-0.18%
MUR	F	-0.18%
GMS	D	-0.18%
CSCO	C	-0.18%
HP	F	-0.18%
GS	C	-0.18%
PTEN	F	-0.17%
MATX	B	-0.17%
CVI	F	-0.17%
MS	D	-0.17%
MLI	B	-0.16%
CMC	D	-0.16%
ADTN	D	-0.16%
INTC	F	-0.16%
MGY	C	-0.16%
ABG	D	-0.16%
PRG	A	-0.16%
UPS	D	-0.16%
NMIH	B	-0.15%
PBF	F	-0.15%
URBN	F	-0.15%
INVA	B	-0.15%
CCS	B	-0.15%
HE	F	-0.15%
AVA	C	-0.14%
NWN	C	-0.14%
UFPI	C	-0.14%
ONB	C	-0.14%
NWE	B	-0.14%
EIG	C	-0.14%
CNX	B	-0.14%
EBC	B	-0.14%
PHIN	B	-0.14%
BNL	B	-0.14%
BZH	B	-0.14%
AEO	F	-0.13%
HPP	D	-0.13%
VAL	F	-0.13%
GDEN	D	-0.13%
SANM	D	-0.13%
GEF	D	-0.13%
IMKTA	D	-0.13%
UVV	D	-0.13%
GHC	B	-0.13%
SR	B	-0.13%
ATSG	D	-0.13%
WMK	C	-0.13%
LZB	C	-0.13%
RYI	D	-0.12%
SBH	B	-0.12%
INDB	C	-0.12%
RC	F	-0.12%
RLJ	D	-0.12%
AAT	B	-0.12%
CNO	B	-0.12%
FCF	C	-0.12%
BKU	C	-0.12%
LGIH	C	-0.12%
NX	F	-0.12%
EFSC	C	-0.12%
STBA	B	-0.12%
CXW	F	-0.12%
KOP	F	-0.12%
ENVA	C	-0.12%
CUBI	F	-0.12%
TGNA	D	-0.12%
OLPX	C	-0.11%
UMBF	B	-0.11%
NAVI	C	-0.11%
FRME	D	-0.11%
DNOW	D	-0.11%
REVG	D	-0.11%
OCFC	B	-0.11%
CATY	C	-0.11%
ATKR	F	-0.11%
SCHL	D	-0.11%
FFBC	D	-0.11%
CALM	A	-0.11%
GES	F	-0.11%
CABO	F	-0.11%
JBT	D	-0.11%
HOMB	B	-0.1%
BLK	B	-0.1%
ABT	C	-0.1%
POOL	C	-0.1%
HTZ	F	-0.1%
UBSI	B	-0.1%
MDLZ	B	-0.1%
TRGP	B	-0.1%
LILAK	D	-0.1%
ABR	B	-0.1%
ABM	D	-0.1%
CENTA	F	-0.1%
PEBO	C	-0.1%
SAH	D	-0.1%
WMT	C	-0.1%
ADNT	F	-0.1%
USM	C	-0.1%
VSH	F	-0.1%
WGO	D	-0.1%
PRDO	D	-0.1%
WERN	D	-0.1%
ABCB	B	-0.1%
ARCH	F	-0.1%
HUBG	C	-0.1%
PFBC	D	-0.1%
ALGT	F	-0.1%
IBOC	D	-0.1%
SSB	B	-0.1%
AMN	F	-0.09%
SFNC	B	-0.09%
SWX	C	-0.09%
ELV	C	-0.09%
MSGE	B	-0.09%
PDCO	F	-0.09%
HWC	D	-0.09%
KMB	D	-0.09%
ASGN	D	-0.09%
GT	F	-0.09%
TSCO	C	-0.09%
GD	B	-0.09%
NKE	D	-0.09%
TOWN	B	-0.09%
PATK	B	-0.09%
LGND	C	-0.09%
TALO	D	-0.09%
EPC	F	-0.09%
PARR	F	-0.09%
JCI	B	-0.09%
CRC	C	-0.09%
VSCO	C	-0.09%
MATW	F	-0.09%
ANDE	D	-0.09%
CI	C	-0.09%
CRK	D	-0.09%
REZI	D	-0.09%
NJR	B	-0.09%
REGN	C	-0.09%
SASR	B	-0.09%
FBNC	B	-0.09%
JELD	D	-0.08%
NBHC	D	-0.08%
FHI	A	-0.08%
RNST	D	-0.08%
EQC	C	-0.08%
HGV	F	-0.08%
DAN	F	-0.08%
BXC	D	-0.08%
FIBK	B	-0.08%
BECN	D	-0.08%
KMT	B	-0.08%
CENX	D	-0.08%
OMI	D	-0.08%
OI	D	-0.08%
SJW	C	-0.08%
OMCL	C	-0.08%
WSBC	D	-0.08%
AX	D	-0.08%
WSFS	D	-0.08%
UNF	C	-0.08%
SLVM	B	-0.08%
MCRI	C	-0.08%
CTOS	F	-0.08%
ENS	D	-0.08%
HOPE	B	-0.08%
PNM	B	-0.08%
BANR	B	-0.08%
NWBI	C	-0.08%
BKE	B	-0.08%
ADV	C	-0.08%
SSTK	F	-0.08%
VBTX	B	-0.08%
OFG	C	-0.08%
CASH	B	-0.08%
RIG	F	-0.07%
MRTN	D	-0.07%
ARCB	D	-0.07%
QCOM	D	-0.07%
KOS	F	-0.07%
HTLD	D	-0.07%
ECVT	F	-0.07%
KN	D	-0.07%
NMRK	A	-0.07%
MLKN	D	-0.07%
ODP	F	-0.07%
CHGG	F	-0.07%
ICUI	B	-0.07%
APOG	B	-0.07%
CNXN	B	-0.06%
SBCF	C	-0.06%
TCBI	B	-0.06%
UCBI	B	-0.06%
CSGS	C	-0.06%
DFIN	B	-0.06%
AUB	D	-0.06%
KLG	C	-0.06%
NIC	C	-0.06%
CPK	B	-0.06%
NHC	D	-0.06%
GOGO	F	-0.06%
ALEX	B	-0.06%
SKY	B	-0.06%
GTY	B	-0.06%
PLUS	A	-0.06%
HELE	D	-0.06%
WAFD	C	-0.06%
DORM	B	-0.06%
DEI	B	-0.06%
DIOD	F	-0.06%
MODG	F	-0.06%
ROIC	C	-0.06%
ZD	D	-0.06%
CBRL	D	-0.06%
CMCO	F	-0.06%
VRTS	F	-0.06%
GEO	F	-0.06%
SHEN	F	-0.05%
AVNT	B	-0.05%
XHR	B	-0.05%
BXMT	C	-0.05%
LNN	D	-0.05%
EAT	A	-0.05%
PTVE	D	-0.05%
TRS	D	-0.05%
PCH	C	-0.05%
CVBF	D	-0.05%
HTH	C	-0.05%
FULT	D	-0.05%
HLF	F	-0.05%
SNEX	B	-0.05%
TRMK	C	-0.05%
TCBK	D	-0.05%
PBH	B	-0.05%
BUSE	C	-0.05%
PSMT	B	-0.05%
BDC	B	-0.05%
VCTR	B	-0.05%
SRCE	D	-0.05%
PRIM	B	-0.05%
SAFT	D	-0.05%
MCY	D	-0.05%
LCII	C	-0.05%
OEC	F	-0.05%
DEA	B	-0.05%
CWT	C	-0.05%
FOXF	D	-0.04%
KALU	F	-0.04%
LANC	D	-0.04%
KWR	D	-0.04%
BLMN	F	-0.04%
SIGI	D	-0.04%
STRA	F	-0.04%
SEM	D	-0.04%
NEOG	D	-0.04%
MTX	F	-0.04%
MMS	C	-0.04%
SUM	D	-0.04%
PCRX	F	-0.04%
FUL	C	-0.04%
KFY	B	-0.03%
HMN	D	-0.03%
SHOO	B	-0.03%
WD	B	-0.03%
PGRE	C	-0.03%
GNW	B	-0.03%
FBP	C	-0.03%
LXP	B	-0.03%
NNI	B	-0.03%
MWA	B	-0.03%
ADUS	B	-0.03%
HNI	C	-0.03%
BHLB	B	-0.03%
THS	C	-0.03%
NBTB	D	-0.03%
STC	B	-0.03%
FBK	B	-0.03%
JBGS	C	-0.03%
BOOT	A	-0.03%
VSAT	F	-0.03%
BMBL	F	-0.03%
CBU	C	-0.03%
PLXS	A	-0.03%
CVCO	A	-0.03%
PFS	B	-0.03%
FDP	C	-0.03%
LTH	B	-0.03%
HI	F	-0.02%
DK	F	-0.02%
ROG	F	-0.02%
OXM	F	-0.02%
SCL	F	-0.02%
XRX	D	-0.02%
CTS	D	-0.02%
CAKE	D	-0.02%
THRM	D	-0.02%
WOR	D	-0.02%
OII	D	-0.02%
ASB	D	-0.02%
NVEE	F	-0.02%
CMTG	D	-0.02%
APAM	C	-0.02%
KFRC	D	-0.02%
AIN	D	-0.02%
ATUS	C	-0.02%
PPBI	D	-0.02%
IART	F	-0.01%