IWS vs. FEX ETF Comparison

Comparison of iShares Russell Mid-cap Value ETF (IWS) to First Trust Large Cap Core AlphaDEX (FEX)

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

$135.10

Average Daily Volume

271,151

Number of Holdings ^*

706

* may have additional holdings in another (foreign) market

FEX

First Trust Large Cap Core AlphaDEX

FEX 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 Large Cap Core 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 500(R) 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

$109.01

Average Daily Volume

22,877

Number of Holdings ^*

372

* may have additional holdings in another (foreign) market

Performance

Period	IWS	FEX
30 Days	1.53%	3.33%
60 Days	4.98%	7.88%
90 Days	7.44%	9.87%
12 Months	28.97%	30.93%

201 Overlapping Holdings

Symbol	Grade	Weight in IWS	Weight in FEX	Overlap
ACGL	C	0.4%	0.3%	0.3%
ADM	F	0.27%	0.37%	0.27%
AEE	B	0.26%	0.35%	0.26%
AFL	C	0.66%	0.33%	0.33%
AJG	A	0.64%	0.17%	0.17%
AKAM	F	0.15%	0.3%	0.15%
ALL	B	0.47%	0.44%	0.44%
ALLY	C	0.1%	0.35%	0.1%
ALNY	D	0.04%	0.34%	0.04%
AMP	A	0.05%	0.3%	0.05%
APTV	F	0.17%	0.32%	0.17%
ARE	F	0.21%	0.16%	0.16%
ATO	B	0.23%	0.35%	0.23%
AVB	B	0.36%	0.09%	0.09%
AVY	F	0.11%	0.08%	0.08%
AWK	D	0.29%	0.15%	0.15%
BBY	C	0.21%	0.22%	0.21%
BG	D	0.13%	0.38%	0.13%
BIIB	F	0.27%	0.22%	0.22%
BK	B	0.62%	0.46%	0.46%
BKR	B	0.47%	0.41%	0.41%
BLD	F	0.12%	0.08%	0.08%
BLDR	C	0.21%	0.32%	0.21%
BR	A	0.03%	0.18%	0.03%
BRO	B	0.16%	0.36%	0.16%
CAG	F	0.15%	0.07%	0.07%
CASY	B	0.14%	0.27%	0.14%
CBOE	D	0.22%	0.08%	0.08%
CCI	F	0.5%	0.07%	0.07%
CCL	B	0.26%	0.44%	0.26%
CE	F	0.07%	0.24%	0.07%
CF	B	0.17%	0.41%	0.17%
CFG	B	0.22%	0.38%	0.22%
CHTR	B	0.4%	0.31%	0.31%
CINF	A	0.25%	0.46%	0.25%
CMI	A	0.53%	0.19%	0.19%
CMS	D	0.22%	0.24%	0.22%
CNC	F	0.34%	0.34%	0.34%
CNP	B	0.21%	0.34%	0.21%
COIN	B	0.09%	0.15%	0.09%
CPB	F	0.09%	0.15%	0.09%
CSL	B	0.19%	0.17%	0.17%
CTRA	B	0.2%	0.44%	0.2%
CTSH	A	0.43%	0.44%	0.43%
CTVA	C	0.44%	0.17%	0.17%
CVNA	B	0.19%	0.48%	0.19%
DAL	A	0.43%	0.52%	0.43%
DD	D	0.38%	0.16%	0.16%
DG	F	0.18%	0.3%	0.18%
DGX	B	0.19%	0.34%	0.19%
DHI	D	0.54%	0.37%	0.37%
DOC	C	0.17%	0.16%	0.16%
DOV	A	0.3%	0.09%	0.09%
DOW	F	0.35%	0.21%	0.21%
DRI	B	0.1%	0.17%	0.1%
DTE	D	0.26%	0.31%	0.26%
DVN	F	0.27%	0.42%	0.27%
EBAY	C	0.34%	0.32%	0.32%
ED	D	0.37%	0.32%	0.32%
EFX	F	0.29%	0.23%	0.23%
EG	D	0.14%	0.39%	0.14%
EIX	C	0.34%	0.24%	0.24%
EME	B	0.16%	0.51%	0.16%
EQR	C	0.3%	0.25%	0.25%
EQT	B	0.25%	0.4%	0.25%
ESS	C	0.21%	0.09%	0.09%
ETR	B	0.34%	0.38%	0.34%
EXC	C	0.41%	0.32%	0.32%
EXPD	C	0.15%	0.08%	0.08%
EXR	D	0.38%	0.15%	0.15%
FANG	C	0.37%	0.43%	0.37%
FCNCA	B	0.28%	0.4%	0.28%
FE	D	0.26%	0.16%	0.16%
FICO	B	0.09%	0.51%	0.09%
FITB	A	0.34%	0.28%	0.28%
FNF	C	0.17%	0.16%	0.16%
FOXA	A	0.11%	0.45%	0.11%
FSLR	F	0.22%	0.26%	0.22%
FTV	C	0.29%	0.16%	0.16%
GEHC	D	0.37%	0.08%	0.08%
GEN	B	0.17%	0.37%	0.17%
GIS	F	0.4%	0.22%	0.22%
GLPI	D	0.14%	0.08%	0.08%
GPC	D	0.18%	0.22%	0.18%
GRMN	A	0.36%	0.3%	0.3%
GWW	B	0.07%	0.29%	0.07%
HAL	C	0.28%	0.43%	0.28%
HBAN	A	0.27%	0.4%	0.27%
HIG	C	0.37%	0.33%	0.33%
HLT	A	0.32%	0.27%	0.27%
HOLX	D	0.19%	0.16%	0.16%
HOOD	B	0.22%	0.35%	0.22%
HPE	B	0.31%	0.45%	0.31%
HPQ	B	0.3%	0.09%	0.09%
HRL	F	0.1%	0.24%	0.1%
HSY	F	0.24%	0.16%	0.16%
HUBB	C	0.27%	0.18%	0.18%
HUM	D	0.38%	0.22%	0.22%
HWM	B	0.47%	0.48%	0.47%
IEX	B	0.19%	0.18%	0.18%
IP	B	0.22%	0.39%	0.22%
IQV	F	0.38%	0.08%	0.08%
IR	A	0.45%	0.18%	0.18%
IRM	D	0.16%	0.41%	0.16%
J	D	0.2%	0.19%	0.19%
JBHT	C	0.17%	0.29%	0.17%
KEY	B	0.19%	0.19%	0.19%
KEYS	C	0.31%	0.17%	0.17%
KIM	A	0.18%	0.18%	0.18%
KMI	B	0.56%	0.41%	0.41%
KR	A	0.43%	0.35%	0.35%
L	A	0.16%	0.35%	0.16%
LEN	D	0.45%	0.38%	0.38%
LEN	D	0.02%	0.38%	0.02%
LH	B	0.22%	0.18%	0.18%
LHX	B	0.53%	0.19%	0.19%
LNG	B	0.25%	0.4%	0.25%
LNT	C	0.16%	0.25%	0.16%
LUV	B	0.21%	0.28%	0.21%
LYB	F	0.24%	0.37%	0.24%
MAA	C	0.2%	0.17%	0.17%
MAS	D	0.19%	0.08%	0.08%
MKC	D	0.21%	0.08%	0.08%
MKL	A	0.18%	0.09%	0.09%
MOH	F	0.08%	0.16%	0.08%
MSCI	B	0.21%	0.09%	0.09%
MSTR	B	0.43%	0.17%	0.17%
MTB	A	0.38%	0.4%	0.38%
NDAQ	B	0.35%	0.18%	0.18%
NDSN	B	0.16%	0.08%	0.08%
NI	A	0.17%	0.35%	0.17%
NRG	C	0.13%	0.43%	0.13%
NTAP	D	0.15%	0.16%	0.15%
NTRS	A	0.23%	0.3%	0.23%
NUE	D	0.41%	0.44%	0.41%
NVR	D	0.29%	0.24%	0.24%
NWSA	B	0.12%	0.18%	0.12%
O	D	0.54%	0.15%	0.15%
OC	A	0.18%	0.46%	0.18%
OKE	A	0.68%	0.3%	0.3%
OMC	A	0.22%	0.17%	0.17%
ON	F	0.33%	0.4%	0.33%
OTIS	D	0.44%	0.08%	0.08%
PAYX	B	0.33%	0.09%	0.09%
PCG	A	0.48%	0.27%	0.27%
PEG	C	0.46%	0.25%	0.25%
PFG	C	0.21%	0.17%	0.17%
PHM	D	0.3%	0.39%	0.3%
PKG	B	0.23%	0.28%	0.23%
PPG	F	0.32%	0.24%	0.24%
PPL	A	0.27%	0.25%	0.25%
PRU	B	0.47%	0.17%	0.17%
PWR	B	0.36%	0.46%	0.36%
RCL	A	0.38%	0.55%	0.38%
RF	A	0.26%	0.28%	0.26%
RGA	A	0.16%	0.18%	0.16%
RIVN	F	0.1%	0.08%	0.08%
RJF	A	0.33%	0.22%	0.22%
RMD	C	0.29%	0.34%	0.29%
ROST	D	0.39%	0.16%	0.16%
RPM	A	0.14%	0.09%	0.09%
RS	C	0.2%	0.47%	0.2%
RVTY	C	0.16%	0.08%	0.08%
SBAC	D	0.26%	0.08%	0.08%
SNA	A	0.2%	0.52%	0.2%
SPG	A	0.47%	0.18%	0.18%
SSNC	C	0.17%	0.25%	0.17%
STLD	C	0.24%	0.49%	0.24%
STT	B	0.31%	0.27%	0.27%
SWKS	F	0.15%	0.37%	0.15%
SYF	B	0.27%	0.55%	0.27%
SYY	D	0.16%	0.17%	0.16%
TDY	B	0.24%	0.28%	0.24%
THC	B	0.17%	0.42%	0.17%
TOL	B	0.17%	0.43%	0.17%
TROW	A	0.28%	0.45%	0.28%
TSN	B	0.18%	0.17%	0.17%
TXT	D	0.18%	0.33%	0.18%
TYL	B	0.04%	0.26%	0.04%
UAL	A	0.31%	0.65%	0.31%
ULTA	C	0.03%	0.33%	0.03%
URI	B	0.48%	0.45%	0.45%
UTHR	B	0.19%	0.47%	0.19%
VICI	D	0.35%	0.08%	0.08%
VLTO	D	0.15%	0.23%	0.15%
VTR	C	0.29%	0.34%	0.29%
VTRS	B	0.17%	0.38%	0.17%
WAB	B	0.38%	0.46%	0.38%
WAT	B	0.1%	0.09%	0.09%
WEC	B	0.33%	0.26%	0.26%
WLK	F	0.05%	0.14%	0.05%
WMB	B	0.74%	0.1%	0.1%
WRB	B	0.19%	0.18%	0.18%
WSM	F	0.07%	0.07%	0.07%
WSO	B	0.2%	0.18%	0.18%
WST	B	0.1%	0.09%	0.09%
WY	F	0.25%	0.15%	0.15%
XEL	A	0.41%	0.35%	0.35%
XYL	F	0.33%	0.15%	0.15%
ZBH	C	0.24%	0.34%	0.24%
ZM	B	0.23%	0.31%	0.23%

IWS Overweight 505 Positions Relative to FEX

Symbol	Grade	Weight
DLR	C	0.64%
FIS	B	0.54%
KVUE	A	0.49%
AME	A	0.48%
DFS	B	0.47%
EA	A	0.46%
CBRE	B	0.45%
A	F	0.43%
MCHP	F	0.42%
FERG	B	0.42%
GLW	B	0.4%
MLM	B	0.39%
WTW	A	0.35%
CSGP	F	0.34%
TTWO	A	0.33%
ANSS	B	0.32%
GPN	B	0.31%
ROK	B	0.31%
VMC	B	0.31%
MTD	F	0.3%
LDOS	C	0.29%
SW	B	0.29%
CHD	A	0.28%
IFF	F	0.26%
YUM	B	0.26%
SQ	B	0.26%
ILMN	C	0.26%
WDC	D	0.25%
WBD	B	0.24%
EXE	A	0.23%
K	A	0.23%
ES	D	0.23%
STE	D	0.23%
COO	D	0.22%
INVH	D	0.22%
TRU	D	0.21%
BALL	D	0.2%
PNR	A	0.19%
BAX	F	0.19%
TRMB	B	0.19%
IBKR	A	0.19%
USFD	B	0.17%
AVTR	F	0.17%
SUI	F	0.17%
MRO	B	0.17%
ZBRA	B	0.17%
COHR	C	0.16%
VRSN	C	0.16%
UDR	C	0.16%
GGG	B	0.16%
CW	C	0.16%
AMCR	D	0.16%
ACM	B	0.16%
REG	A	0.15%
RNR	D	0.15%
JBL	C	0.15%
SWK	F	0.15%
EVRG	A	0.15%
HES	B	0.15%
EWBC	B	0.15%
FFIV	B	0.15%
INCY	B	0.14%
HST	D	0.14%
ITT	A	0.14%
CPT	C	0.14%
CACI	C	0.14%
ALLE	D	0.14%
CHRW	A	0.14%
TWLO	B	0.14%
BMRN	F	0.14%
JNPR	D	0.14%
NVT	C	0.14%
UNM	A	0.14%
BXP	D	0.14%
JKHY	C	0.14%
ELS	B	0.14%
CLH	B	0.14%
CDW	F	0.14%
ATR	A	0.13%
RRX	B	0.13%
Z	B	0.13%
FDS	A	0.13%
ALB	C	0.13%
TECH	D	0.13%
EMN	D	0.13%
CAH	B	0.13%
SJM	F	0.13%
BJ	B	0.13%
TPR	A	0.13%
UHS	D	0.13%
EPAM	B	0.13%
NTNX	B	0.13%
WPC	F	0.13%
FTI	B	0.13%
SCI	B	0.13%
DLTR	F	0.13%
AMH	C	0.13%
CTLT	D	0.12%
WWD	B	0.12%
AFRM	B	0.12%
FWONK	A	0.12%
FHN	A	0.12%
CUBE	D	0.12%
AIZ	A	0.12%
CCK	D	0.12%
CRL	C	0.12%
DAY	B	0.12%
KMX	B	0.12%
EVR	B	0.12%
AA	C	0.12%
IPG	F	0.12%
PFGC	B	0.12%
SOFI	B	0.12%
OVV	C	0.12%
SF	A	0.12%
CG	B	0.12%
WAL	B	0.11%
GL	B	0.11%
FBIN	F	0.11%
TTEK	F	0.11%
RGLD	C	0.11%
WBS	A	0.11%
AFG	A	0.11%
WTRG	C	0.11%
NLY	C	0.11%
INGR	B	0.11%
LKQ	C	0.11%
SOLV	C	0.11%
LAD	B	0.11%
AYI	A	0.11%
EHC	B	0.11%
MKTX	C	0.11%
OHI	C	0.11%
RPRX	F	0.11%
ARMK	B	0.11%
CIEN	B	0.11%
PRI	B	0.11%
DKS	D	0.11%
TAP	B	0.11%
DPZ	C	0.11%
PNW	A	0.11%
ALSN	B	0.11%
DOX	C	0.11%
GWRE	A	0.1%
GPK	D	0.1%
KBR	D	0.1%
JLL	C	0.1%
CZR	F	0.1%
HLI	B	0.1%
TTC	F	0.1%
AXTA	A	0.1%
MOS	D	0.1%
RL	B	0.1%
JEF	B	0.1%
PTC	B	0.1%
AOS	F	0.1%
WCC	B	0.1%
NYT	C	0.1%
GMED	B	0.1%
RBC	B	0.1%
BWXT	B	0.1%
MTZ	B	0.1%
ORI	A	0.1%
TFX	F	0.1%
PNFP	B	0.1%
CNH	D	0.1%
X	D	0.1%
BRBR	A	0.1%
TW	B	0.1%
CMA	A	0.1%
REXR	F	0.1%
GME	C	0.1%
DCI	A	0.1%
FRT	B	0.1%
KNX	C	0.1%
SNX	C	0.1%
DTM	A	0.1%
AES	F	0.1%
RRC	B	0.09%
MTCH	F	0.09%
APA	F	0.09%
FLS	B	0.09%
LW	B	0.09%
SEIC	A	0.09%
WYNN	C	0.09%
ROKU	C	0.09%
HII	F	0.09%
ACI	C	0.09%
VNO	C	0.09%
G	B	0.09%
SNV	B	0.09%
CFR	B	0.09%
LBRDK	C	0.09%
CHRD	D	0.09%
TKO	D	0.09%
VOYA	B	0.09%
CART	C	0.09%
CBSH	A	0.09%
WTFC	B	0.09%
LAMR	D	0.09%
ZION	B	0.09%
AAL	B	0.09%
AR	B	0.09%
LECO	C	0.09%
APG	C	0.09%
FYBR	D	0.09%
EGP	D	0.09%
MGM	D	0.09%
BRX	A	0.09%
OGE	B	0.09%
CR	B	0.09%
HSIC	F	0.09%
R	B	0.08%
CGNX	C	0.08%
GNTX	C	0.08%
GXO	B	0.08%
BIO	C	0.08%
FR	D	0.08%
AGNC	C	0.08%
FCN	F	0.08%
ATI	F	0.08%
PB	B	0.08%
SSD	F	0.08%
MKSI	C	0.08%
OSK	B	0.08%
VFC	C	0.08%
KEX	A	0.08%
ESAB	B	0.08%
COKE	C	0.08%
MIDD	D	0.08%
FMC	F	0.08%
FAST	B	0.08%
CHE	D	0.08%
SKX	F	0.08%
ADC	A	0.08%
MHK	D	0.08%
RHI	B	0.08%
PR	C	0.08%
BWA	B	0.08%
JAZZ	B	0.08%
MTSI	B	0.08%
BERY	D	0.08%
SAIC	D	0.08%
NNN	F	0.08%
BEN	C	0.07%
BPOP	C	0.07%
OLLI	C	0.07%
STWD	C	0.07%
MTDR	B	0.07%
OMF	A	0.07%
VNT	C	0.07%
LFUS	D	0.07%
MTG	C	0.07%
KD	A	0.07%
S	B	0.07%
ARW	F	0.07%
MSA	D	0.07%
SIRI	C	0.07%
ALK	A	0.07%
NOV	C	0.07%
COLB	A	0.07%
DAR	B	0.07%
ONTO	F	0.07%
FAF	C	0.07%
ESI	B	0.07%
WBA	D	0.07%
COLD	F	0.07%
PARA	B	0.07%
IVZ	B	0.07%
AXS	A	0.07%
MAT	C	0.07%
DINO	D	0.07%
AZPN	A	0.07%
HRB	D	0.07%
QRVO	F	0.07%
DOCS	B	0.07%
RLI	A	0.07%
FND	F	0.07%
HR	C	0.07%
WH	A	0.07%
RGEN	C	0.07%
BBWI	C	0.07%
LSTR	B	0.07%
STAG	D	0.07%
OKTA	C	0.07%
VMI	B	0.07%
WEX	D	0.07%
ALGN	D	0.07%
ELAN	C	0.07%
AVT	C	0.06%
WSC	F	0.06%
BYD	A	0.06%
PSN	C	0.06%
CCCS	B	0.06%
OLN	F	0.06%
LEA	F	0.06%
NFG	D	0.06%
POST	D	0.06%
FOX	A	0.06%
THO	B	0.06%
SN	C	0.06%
RITM	C	0.06%
CRUS	F	0.06%
LITE	B	0.06%
EXAS	F	0.06%
GNRC	B	0.06%
THG	A	0.06%
BC	D	0.06%
BFAM	F	0.06%
FNB	B	0.06%
IDA	A	0.06%
AGCO	F	0.06%
JHG	A	0.06%
PVH	C	0.06%
H	B	0.06%
AMG	B	0.06%
WHR	B	0.06%
LNC	B	0.06%
WMS	F	0.06%
BILL	B	0.06%
SAIA	B	0.06%
AMTM	D	0.05%
LINE	F	0.05%
CLF	F	0.05%
OLED	F	0.05%
AN	C	0.05%
GTES	B	0.05%
TPG	B	0.05%
SITE	D	0.05%
M	C	0.05%
GFS	C	0.05%
GAP	B	0.05%
PAYC	B	0.05%
DLB	D	0.05%
EEFT	C	0.05%
SLGN	B	0.05%
AWI	B	0.05%
DBX	B	0.05%
AGO	B	0.05%
RYN	F	0.05%
WTM	A	0.05%
CUZ	B	0.05%
KRC	C	0.05%
ST	F	0.05%
CROX	F	0.05%
AL	B	0.05%
TKR	F	0.05%
SON	F	0.05%
OZK	B	0.05%
HXL	F	0.05%
FRPT	B	0.05%
UGI	D	0.05%
ROIV	D	0.05%
SLM	A	0.05%
AM	B	0.04%
LBTYK	F	0.04%
VAC	B	0.04%
ZG	B	0.04%
HUN	F	0.04%
LBTYA	F	0.04%
MASI	B	0.04%
U	F	0.04%
LOPE	B	0.04%
EPR	D	0.04%
FHB	B	0.04%
NVST	C	0.04%
TNL	A	0.04%
HIW	D	0.04%
PII	F	0.04%
PRGO	C	0.04%
XRAY	F	0.04%
MDU	D	0.04%
W	F	0.04%
NWS	B	0.04%
ACHC	F	0.04%
ZI	C	0.04%
DNB	B	0.04%
NEU	C	0.04%
PLNT	A	0.04%
NWL	B	0.04%
UHAL	D	0.04%
CIVI	D	0.04%
MSGS	B	0.04%
DXC	B	0.04%
VNOM	C	0.04%
IAC	F	0.04%
RH	C	0.04%
HOG	D	0.04%
FLO	F	0.04%
MSM	C	0.04%
ASH	F	0.04%
KMPR	A	0.04%
OGN	F	0.04%
CPRI	F	0.03%
CWEN	D	0.03%
BRKR	F	0.03%
YETI	D	0.03%
AZTA	F	0.03%
PINC	B	0.03%
GLOB	B	0.03%
SHC	D	0.03%
QDEL	F	0.03%
ENOV	C	0.03%
SPB	A	0.03%
EXP	B	0.03%
AGR	C	0.03%
MP	C	0.03%
WU	F	0.03%
HHH	B	0.03%
BOKF	B	0.03%
ALGM	F	0.03%
COTY	D	0.03%
CC	C	0.03%
COLM	B	0.03%
VIRT	B	0.03%
SEE	C	0.03%
CXT	F	0.03%
CNM	D	0.03%
MPW	F	0.03%
LLYVK	B	0.03%
PAG	B	0.03%
NSA	D	0.03%
PK	C	0.03%
MAN	F	0.03%
AMED	F	0.03%
BHF	B	0.03%
SMG	D	0.03%
BROS	B	0.03%
PENN	B	0.03%
IRDM	B	0.03%
AMKR	F	0.03%
SPR	F	0.03%
ECG	D	0.03%
NXST	C	0.03%
SNDR	B	0.02%
TER	F	0.02%
REYN	D	0.02%
TRIP	D	0.02%
LEG	F	0.02%
INFA	F	0.02%
UA	B	0.02%
WEN	C	0.02%
GO	C	0.02%
CRI	D	0.02%
EXEL	B	0.02%
UAA	B	0.02%
BIRK	F	0.02%
VSTS	D	0.02%
QS	F	0.02%
CLVT	F	0.02%
FTRE	D	0.02%
KSS	D	0.02%
CNXC	F	0.02%
AZEK	B	0.02%
LYFT	B	0.02%
ALAB	C	0.02%
PPC	C	0.02%
PSTG	D	0.02%
ETSY	D	0.02%
SAM	B	0.02%
LCID	F	0.02%
LPX	A	0.02%
RKT	F	0.02%
RCM	B	0.02%
AAP	C	0.02%
JWN	B	0.02%
HAYW	B	0.02%
IPGP	C	0.02%
ADT	C	0.02%
IONS	F	0.01%
TXG	F	0.01%
PLTK	B	0.01%
CHH	B	0.01%
CACC	D	0.01%
DJT	C	0.01%
SEB	F	0.01%
UI	B	0.01%
TFSL	A	0.01%
PATH	C	0.01%
CWEN	D	0.01%
CAR	C	0.01%
FIVE	F	0.01%
HCP	A	0.01%
LSCC	D	0.01%
MTN	C	0.01%
CNA	C	0.01%
FWONA	B	0.01%
AS	B	0.01%
HAS	D	0.01%
PYCR	B	0.01%
LLYVA	B	0.01%
DV	C	0.01%
LBRDA	C	0.01%
WOLF	F	0.01%
DDS	B	0.01%
CERT	F	0.01%
NCNO	B	0.01%
LOAR	C	0.0%
PARAA	B	0.0%
SEG	F	0.0%
UWMC	F	0.0%
NFE	F	0.0%
UHAL	D	0.0%
GRAL	B	0.0%
LAZ	C	0.0%

IWS Underweight 172 Positions Relative to FEX

Symbol	Grade	Weight
APP	B	-0.92%
PLTR	B	-0.68%
AXON	B	-0.64%
GM	B	-0.54%
VRT	B	-0.53%
EXPE	B	-0.52%
GS	B	-0.51%
VST	B	-0.51%
KKR	B	-0.5%
PCAR	B	-0.49%
TT	B	-0.45%
AXP	B	-0.45%
EOG	A	-0.45%
TRGP	B	-0.44%
SLB	C	-0.44%
CMCSA	B	-0.44%
CVX	A	-0.44%
F	C	-0.44%
COP	C	-0.44%
VLO	C	-0.43%
PGR	A	-0.43%
WFC	A	-0.43%
XOM	B	-0.43%
HEI	A	-0.42%
T	A	-0.42%
COF	B	-0.42%
PSX	C	-0.41%
BURL	C	-0.41%
DASH	A	-0.41%
CPNG	B	-0.41%
OXY	F	-0.41%
RBLX	B	-0.41%
TPL	B	-0.4%
FI	A	-0.4%
MPC	D	-0.4%
TMUS	A	-0.39%
GDDY	B	-0.39%
BAH	C	-0.38%
LYV	A	-0.38%
HCA	D	-0.37%
SRE	B	-0.37%
MSI	B	-0.37%
CVS	F	-0.37%
ORCL	A	-0.37%
C	B	-0.37%
PH	A	-0.37%
CRBG	C	-0.36%
INTC	C	-0.36%
CTAS	B	-0.36%
ANET	C	-0.35%
LII	B	-0.35%
COST	B	-0.35%
FDX	B	-0.35%
META	B	-0.34%
PM	B	-0.34%
AIG	B	-0.34%
CB	C	-0.33%
DUK	D	-0.33%
ERIE	F	-0.33%
GE	D	-0.33%
TGT	C	-0.33%
MS	A	-0.32%
IBM	D	-0.32%
CEG	D	-0.31%
AEP	D	-0.31%
FTNT	B	-0.31%
TTD	B	-0.3%
NVDA	A	-0.3%
NEE	D	-0.3%
VZ	D	-0.3%
BKNG	A	-0.3%
NOW	A	-0.29%
BAC	A	-0.29%
CSCO	A	-0.28%
TRV	B	-0.28%
USB	B	-0.28%
JPM	A	-0.28%
NFLX	A	-0.28%
CSX	B	-0.27%
WELL	B	-0.27%
ISRG	A	-0.27%
SHW	A	-0.26%
AVGO	C	-0.26%
BSX	A	-0.26%
ICE	C	-0.25%
SPGI	C	-0.25%
TJX	A	-0.25%
MANH	C	-0.25%
D	D	-0.25%
MCO	C	-0.25%
CAT	B	-0.25%
BRK.A	B	-0.25%
CARR	C	-0.24%
JNJ	D	-0.24%
TDG	D	-0.24%
DE	D	-0.24%
PSA	D	-0.23%
KHC	F	-0.23%
STX	D	-0.23%
KDP	C	-0.22%
APO	B	-0.22%
TSLA	B	-0.22%
ELV	F	-0.21%
DELL	C	-0.2%
CPAY	A	-0.2%
DECK	B	-0.19%
PYPL	A	-0.19%
ETN	B	-0.19%
PNC	B	-0.19%
DIS	B	-0.18%
APD	B	-0.18%
IT	B	-0.18%
CI	D	-0.17%
LVS	C	-0.17%
GD	C	-0.17%
LLY	F	-0.16%
UBER	F	-0.16%
AAPL	C	-0.16%
UPS	C	-0.16%
TSCO	D	-0.16%
SO	D	-0.16%
MDT	D	-0.16%
ECL	C	-0.16%
KO	F	-0.15%
CL	F	-0.15%
MDLZ	F	-0.15%
AMT	F	-0.14%
NKE	F	-0.14%
MPWR	F	-0.12%
ADSK	B	-0.1%
MAR	A	-0.1%
PANW	B	-0.1%
ODFL	B	-0.1%
EMR	A	-0.1%
ABT	C	-0.09%
CMG	B	-0.09%
EQIX	B	-0.09%
SBUX	B	-0.09%
MU	D	-0.09%
SYK	A	-0.09%
RSG	B	-0.09%
MO	A	-0.09%
ORLY	A	-0.09%
MA	B	-0.09%
VRTX	B	-0.09%
GOOGL	C	-0.09%
NSC	B	-0.09%
ARES	B	-0.09%
AON	B	-0.09%
AMZN	A	-0.09%
JCI	A	-0.09%
APH	B	-0.09%
FCX	F	-0.08%
ZTS	D	-0.08%
KMB	D	-0.08%
PEP	D	-0.08%
BDX	F	-0.08%
LMT	D	-0.08%
MCD	C	-0.08%
MET	C	-0.08%
POOL	D	-0.08%
AMGN	F	-0.08%
MMC	D	-0.08%
AZO	B	-0.08%
ROL	C	-0.08%
HD	B	-0.08%
NOC	D	-0.08%
ACN	B	-0.08%
CLX	A	-0.08%
LOW	B	-0.08%
KLAC	F	-0.07%
TMO	F	-0.07%