IWS vs. JPUS ETF Comparison

Comparison of iShares Russell Mid-cap Value ETF (IWS) to JPMorgan Diversified Return U.S. Equity ETF (JPUS)

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

$132.00

Average Daily Volume

302,715

Number of Holdings ^*

705

* may have additional holdings in another (foreign) market

JPUS

JPMorgan Diversified Return U.S. Equity ETF

JPUS Description

The investment seeks investment results that closely correspond, before fees and expenses, to the performance of the Russell 1000 Diversified Factor Index. The fund will invest at least 80% of its assets in securities included in the underlying index. The underlying index is comprised of U.S. equity securities selected to represent a diversified set of factor characteristics, originally developed by the adviser. Holdings in the underlying index are selected by the index provider primarily from the constituents of the Russell 1000 Index, a larger Russell index, which is comprised of large- and mid-cap equity securities in the United States.

Grade (RS Rating)

Last Trade

$119.59

Average Daily Volume

7,859

Number of Holdings ^*

354

* may have additional holdings in another (foreign) market

Performance

Period	IWS	JPUS
30 Days	2.33%	2.40%
60 Days	4.36%	5.42%
90 Days	7.82%	7.29%
12 Months	22.59%	23.49%

236 Overlapping Holdings

	Symbol	Grade	Weight in IWS	Weight in JPUS	Overlap
	ACGL	B	0.46%	0.35%	0.35%
	ACI	F	0.09%	0.31%	0.09%
	ADM	D	0.34%	0.37%	0.34%
	AEE	B	0.26%	0.01%	0.01%
	AFG	B	0.11%	0.06%	0.06%
	AFL	B	0.71%	0.4%	0.4%
	AGO	C	0.05%	0.04%	0.04%
	ALLY	F	0.09%	0.21%	0.09%
	ALSN	B	0.09%	0.3%	0.09%
	AM	B	0.04%	0.37%	0.04%
	AME	C	0.44%	0.23%	0.23%
	AMP	B	0.04%	0.23%	0.04%
	AOS	C	0.11%	0.32%	0.11%
	ASH	D	0.05%	0.15%	0.05%
	ATO	B	0.24%	0.15%	0.15%
	AVB	B	0.38%	0.34%	0.34%
	AVY	D	0.13%	0.16%	0.13%
	BBY	B	0.24%	0.26%	0.24%
	BG	D	0.16%	0.35%	0.16%
	BLDR	C	0.23%	0.34%	0.23%
	BPOP	C	0.07%	0.21%	0.07%
	BRBR	B	0.09%	0.12%	0.09%
	BRX	B	0.1%	0.38%	0.1%
	CACI	B	0.12%	0.13%	0.12%
	CAG	B	0.18%	0.42%	0.18%
	CAH	C	0.13%	0.35%	0.13%
	CASY	D	0.13%	0.38%	0.13%
	CBOE	C	0.25%	0.3%	0.25%
	CBRE	A	0.42%	0.05%	0.05%
	CC	F	0.03%	0.01%	0.01%
	CCI	B	0.59%	0.2%	0.2%
	CE	D	0.12%	0.32%	0.12%
	CF	B	0.17%	0.3%	0.17%
	CFG	D	0.21%	0.06%	0.06%
	CHD	C	0.29%	0.36%	0.29%
	CHE	C	0.09%	0.17%	0.09%
	CHK	D	0.11%	0.09%	0.09%
	CHTR	D	0.37%	0.34%	0.34%
	CIEN	C	0.09%	0.33%	0.09%
	CLF	F	0.04%	0.17%	0.04%
	CLH	B	0.15%	0.41%	0.15%
	CMI	C	0.47%	0.34%	0.34%
	CMS	A	0.24%	0.3%	0.24%
	CNM	F	0.03%	0.17%	0.03%
	CNP	C	0.2%	0.3%	0.2%
	COKE	C	0.09%	0.13%	0.09%
	CPB	B	0.11%	0.42%	0.11%
	CPT	B	0.15%	0.18%	0.15%
	CRI	C	0.03%	0.03%	0.03%
	CSGP	D	0.37%	0.08%	0.08%
	CSL	C	0.19%	0.15%	0.15%
	CTRA	F	0.19%	0.31%	0.19%
	CTSH	C	0.44%	0.37%	0.37%
	CTVA	B	0.45%	0.3%	0.3%
	CUBE	B	0.14%	0.43%	0.14%
	CWEN	B	0.01%	0.05%	0.01%
	CWEN	B	0.03%	0.05%	0.03%
	DFS	C	0.38%	0.1%	0.1%
	DGX	B	0.2%	0.36%	0.2%
	DHI	B	0.66%	0.46%	0.46%
	DINO	D	0.08%	0.24%	0.08%
	DKS	D	0.13%	0.36%	0.13%
	DLB	D	0.05%	0.06%	0.05%
	DOW	D	0.4%	0.29%	0.29%
	DOX	C	0.11%	0.25%	0.11%
	DRI	C	0.1%	0.24%	0.1%
	DTE	B	0.3%	0.33%	0.3%
	DTM	B	0.09%	0.05%	0.05%
	EA	D	0.45%	0.16%	0.16%
	ED	C	0.41%	0.4%	0.4%
	EG	B	0.16%	0.3%	0.16%
	EGP	B	0.1%	0.07%	0.07%
	EIX	C	0.37%	0.43%	0.37%
	EMN	B	0.14%	0.28%	0.14%
	EPR	B	0.04%	0.19%	0.04%
	EQR	B	0.34%	0.23%	0.23%
	EQT	D	0.21%	0.26%	0.21%
	ESI	D	0.07%	0.27%	0.07%
	ESS	B	0.23%	0.4%	0.23%
	ETR	A	0.31%	0.43%	0.31%
	EVRG	A	0.16%	0.36%	0.16%
	EXC	B	0.46%	0.35%	0.35%
	EXP	B	0.03%	0.18%	0.03%
	FANG	D	0.35%	0.3%	0.3%
	FAST	C	0.07%	0.34%	0.07%
	FCNCA	D	0.25%	0.42%	0.25%
	FE	C	0.29%	0.39%	0.29%
	FITB	B	0.33%	0.27%	0.27%
	FLO	C	0.05%	0.23%	0.05%
	FNF	A	0.18%	0.36%	0.18%
	FR	C	0.09%	0.17%	0.09%
	FRT	C	0.11%	0.1%	0.1%
	FTRE	F	0.02%	0.03%	0.02%
	FYBR	C	0.1%	0.51%	0.1%
	GAP	F	0.05%	0.17%	0.05%
	GEHC	C	0.38%	0.24%	0.24%
	GIS	B	0.48%	0.4%	0.4%
	GLPI	B	0.16%	0.38%	0.16%
	GNTX	F	0.08%	0.28%	0.08%
	GO	F	0.02%	0.01%	0.01%
	GRMN	D	0.31%	0.4%	0.31%
	GWW	B	0.06%	0.38%	0.06%
	HBAN	B	0.24%	0.27%	0.24%
	HIG	A	0.39%	0.43%	0.39%
	HIW	B	0.04%	0.15%	0.04%
	HOG	C	0.05%	0.03%	0.03%
	HOLX	B	0.21%	0.31%	0.21%
	HPE	D	0.25%	0.23%	0.23%
	HRB	C	0.08%	0.46%	0.08%
	HRL	C	0.11%	0.29%	0.11%
	HST	D	0.14%	0.36%	0.14%
	HUBB	B	0.25%	0.31%	0.25%
	HUM	F	0.44%	0.04%	0.04%
	HUN	D	0.04%	0.25%	0.04%
	IDA	B	0.06%	0.09%	0.06%
	INGR	A	0.1%	0.43%	0.1%
	IP	B	0.19%	0.34%	0.19%
	IPG	C	0.13%	0.15%	0.13%
	IRDM	D	0.03%	0.07%	0.03%
	IRM	B	0.17%	0.48%	0.17%
	ITT	C	0.13%	0.21%	0.13%
	JEF	B	0.09%	0.24%	0.09%
	JLL	B	0.1%	0.45%	0.1%
	JNPR	A	0.14%	0.41%	0.14%
	K	A	0.24%	0.52%	0.24%
	KEY	B	0.17%	0.05%	0.05%
	KIM	B	0.18%	0.34%	0.18%
	KMI	A	0.47%	0.33%	0.33%
	KR	B	0.42%	0.41%	0.41%
	KRC	B	0.05%	0.15%	0.05%
	KSS	F	0.03%	0.01%	0.01%
	KVUE	B	0.51%	0.41%	0.41%
	LAMR	A	0.1%	0.41%	0.1%
	LBRDK	D	0.06%	0.03%	0.03%
	LEG	D	0.02%	0.03%	0.02%
	LEN	B	0.02%	0.42%	0.02%
	LEN	B	0.51%	0.42%	0.42%
	LNG	D	0.23%	0.3%	0.23%
	LOPE	D	0.03%	0.08%	0.03%
	LPX	B	0.02%	0.07%	0.02%
	LSTR	D	0.08%	0.04%	0.04%
	LW	D	0.07%	0.01%	0.01%
	LYB	F	0.28%	0.36%	0.28%
	M	F	0.05%	0.17%	0.05%
	MAA	B	0.22%	0.23%	0.22%
	MAS	B	0.2%	0.3%	0.2%
	MOH	C	0.09%	0.16%	0.09%
	MOS	F	0.1%	0.15%	0.1%
	MRO	D	0.17%	0.28%	0.17%
	MSM	D	0.04%	0.23%	0.04%
	MTG	B	0.08%	0.36%	0.08%
	NEU	D	0.04%	0.18%	0.04%
	NFG	B	0.06%	0.31%	0.06%
	NI	B	0.17%	0.42%	0.17%
	NNN	B	0.1%	0.21%	0.1%
	NTAP	D	0.15%	0.31%	0.15%
	NUE	F	0.4%	0.28%	0.28%
	NVR	B	0.32%	0.44%	0.32%
	NXST	D	0.04%	0.35%	0.04%
	OC	C	0.16%	0.28%	0.16%
	OGE	B	0.09%	0.36%	0.09%
	OHI	A	0.11%	0.45%	0.11%
	OLN	D	0.06%	0.26%	0.06%
	OMF	C	0.06%	0.17%	0.06%
	ORI	A	0.1%	0.29%	0.1%
	OTIS	D	0.44%	0.07%	0.07%
	PAG	D	0.03%	0.3%	0.03%
	PCG	C	0.48%	0.38%	0.38%
	PEG	B	0.48%	0.43%	0.43%
	PFG	B	0.22%	0.1%	0.1%
	PFGC	B	0.11%	0.4%	0.11%
	PHM	B	0.33%	0.44%	0.33%
	PK	D	0.03%	0.21%	0.03%
	PKG	B	0.21%	0.27%	0.21%
	PNW	B	0.12%	0.42%	0.12%
	POST	C	0.07%	0.42%	0.07%
	PPC	D	0.02%	0.09%	0.02%
	PPL	C	0.27%	0.42%	0.27%
	PRU	C	0.48%	0.09%	0.09%
	PWR	B	0.31%	0.37%	0.31%
	R	B	0.07%	0.14%	0.07%
	REG	C	0.16%	0.41%	0.16%
	RF	B	0.23%	0.08%	0.08%
	RGA	B	0.16%	0.16%	0.16%
	RHI	D	0.07%	0.17%	0.07%
	ROKU	C	0.09%	0.38%	0.09%
	ROST	C	0.45%	0.26%	0.26%
	RPM	B	0.14%	0.26%	0.14%
	RRC	D	0.08%	0.05%	0.05%
	RS	D	0.18%	0.34%	0.18%
	SAIC	C	0.08%	0.09%	0.08%
	SAM	F	0.02%	0.2%	0.02%
	SCI	B	0.13%	0.18%	0.13%
	SJM	C	0.14%	0.25%	0.14%
	SLM	C	0.05%	0.09%	0.05%
	SNX	D	0.1%	0.22%	0.1%
	SON	C	0.06%	0.01%	0.01%
	SPB	B	0.03%	0.27%	0.03%
	SPG	B	0.45%	0.41%	0.41%
	SSNC	B	0.19%	0.04%	0.04%
	STAG	C	0.08%	0.26%	0.08%
	STE	C	0.28%	0.29%	0.28%
	STLD	D	0.19%	0.3%	0.19%
	STT	A	0.29%	0.12%	0.12%
	STWD	A	0.07%	0.18%	0.07%
	SWKS	F	0.19%	0.16%	0.16%
	SYF	C	0.22%	0.37%	0.22%
	SYY	D	0.17%	0.41%	0.17%
	TAP	C	0.11%	0.41%	0.11%
	THC	B	0.18%	0.19%	0.18%
	TKR	D	0.06%	0.2%	0.06%
	TNL	D	0.03%	0.05%	0.03%
	TOL	B	0.18%	0.45%	0.18%
	TSN	C	0.2%	0.3%	0.2%
	UGI	C	0.06%	0.24%	0.06%
	UHS	B	0.15%	0.43%	0.15%
	UI	B	0.01%	0.1%	0.01%
	UNM	B	0.12%	0.41%	0.12%
	USFD	B	0.16%	0.43%	0.16%
	UTHR	C	0.17%	0.37%	0.17%
	VICI	C	0.41%	0.37%	0.37%
	VIRT	B	0.03%	0.12%	0.03%
	VLTO	C	0.17%	0.04%	0.04%
	VTR	C	0.3%	0.27%	0.27%
	VTRS	C	0.16%	0.22%	0.16%
	WEC	B	0.35%	0.36%	0.35%
	WLK	D	0.05%	0.34%	0.05%
	WMB	B	0.63%	0.34%	0.34%
	WPC	B	0.16%	0.26%	0.16%
	WRB	C	0.21%	0.12%	0.12%
	WSM	C	0.09%	0.34%	0.09%
	WST	D	0.1%	0.24%	0.1%
	WU	D	0.03%	0.13%	0.03%
	WY	C	0.27%	0.34%	0.27%
	X	D	0.09%	0.28%	0.09%
	XEL	A	0.41%	0.37%	0.37%

IWS Overweight 469 Positions Relative to JPUS

	Symbol	Grade	Weight
	AJG	C	0.69%
	O	B	0.62%
	OKE	B	0.61%
	DLR	B	0.59%
	BK	A	0.59%
	FIS	B	0.54%
	LHX	D	0.5%
	ALL	A	0.48%
	MCHP	D	0.47%
	CNC	C	0.46%
	A	C	0.46%
	IQV	C	0.44%
	EXR	B	0.43%
	FERG	C	0.42%
	IR	C	0.42%
	URI	B	0.42%
	HWM	B	0.41%
	DD	B	0.39%
	BKR	D	0.38%
	EBAY	B	0.37%
	GLW	B	0.37%
	XYL	D	0.36%
	NDAQ	B	0.35%
	MLM	D	0.35%
	ON	D	0.35%
	WAB	A	0.34%
	WTW	B	0.34%
	PPG	C	0.34%
	EFX	C	0.34%
	BIIB	F	0.33%
	AWK	A	0.33%
	DAL	C	0.33%
	MTD	D	0.33%
	ANSS	F	0.32%
	PAYX	C	0.32%
	MTB	B	0.32%
	GPN	D	0.32%
	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%
	DOV	B	0.29%
	HSY	C	0.29%
	TTWO	D	0.29%
	FSLR	C	0.28%
	HAL	F	0.28%
	HPQ	D	0.28%
	DVN	F	0.28%
	YUM	D	0.27%
	VMC	D	0.27%
	ES	C	0.27%
	RJF	C	0.26%
	INVH	C	0.26%
	TROW	D	0.26%
	COO	B	0.25%
	ARE	B	0.25%
	ZBH	F	0.25%
	ILMN	C	0.24%
	BALL	C	0.24%
	SQ	D	0.24%
	WBD	D	0.24%
	MSTR	D	0.24%
	CINF	B	0.24%
	LDOS	C	0.24%
	MKC	B	0.24%
	WDC	D	0.24%
	TDY	C	0.23%
	BAX	C	0.23%
	GPC	D	0.22%
	OMC	A	0.22%
	NTRS	B	0.21%
	J	D	0.21%
	SUI	B	0.21%
	MSCI	C	0.21%
	AVTR	B	0.21%
	TRU	B	0.21%
	DG	F	0.21%
	LH	B	0.21%
	APTV	D	0.21%
	LUV	C	0.2%
	CCL	C	0.2%
	UAL	B	0.19%
	WSO	C	0.19%
	TXT	D	0.19%
	ZM	C	0.19%
	MKL	C	0.18%
	UDR	B	0.18%
	SWK	B	0.18%
	AMCR	C	0.18%
	BMRN	F	0.18%
	DOC	C	0.18%
	SNA	B	0.17%
	HOOD	C	0.17%
	CDW	D	0.17%
	VRSN	D	0.17%
	AKAM	D	0.17%
	GEN	A	0.17%
	RVTY	B	0.17%
	IEX	D	0.17%
	PNR	B	0.17%
	LNT	A	0.17%
	ZBRA	B	0.16%
	TRMB	C	0.16%
	AMH	C	0.16%
	GGG	C	0.16%
	BRO	C	0.16%
	JBHT	D	0.16%
	ELS	C	0.16%
	EXPD	B	0.16%
	NDSN	C	0.16%
	DLTR	F	0.16%
	L	B	0.16%
	JKHY	B	0.15%
	AES	C	0.15%
	ACM	B	0.15%
	IBKR	B	0.15%
	RNR	B	0.15%
	CW	B	0.14%
	FFIV	A	0.14%
	ALLE	B	0.14%
	BXP	B	0.14%
	HES	D	0.14%
	FDS	C	0.13%
	NVT	D	0.13%
	RIVN	F	0.13%
	INCY	C	0.13%
	EWBC	C	0.13%
	EME	B	0.13%
	BLD	D	0.13%
	JBL	D	0.13%
	CHRW	B	0.13%
	KMX	D	0.13%
	TFX	C	0.13%
	SW	B	0.13%
	TECH	C	0.13%
	CRL	D	0.12%
	ATR	B	0.12%
	AIZ	B	0.12%
	ALB	F	0.12%
	RRX	C	0.12%
	NLY	A	0.12%
	COHR	B	0.12%
	HII	C	0.12%
	NTNX	C	0.12%
	QRVO	F	0.12%
	NRG	C	0.12%
	OVV	D	0.12%
	FBIN	B	0.12%
	FTI	D	0.12%
	EPAM	D	0.12%
	CCK	A	0.12%
	BJ	D	0.12%
	CTLT	B	0.12%
	RPRX	C	0.12%
	LKQ	D	0.12%
	REXR	C	0.12%
	EHC	B	0.11%
	MTCH	C	0.11%
	RGLD	B	0.11%
	FOXA	B	0.11%
	Z	B	0.11%
	MKTX	C	0.11%
	GL	C	0.11%
	TTEK	C	0.11%
	CVNA	B	0.11%
	SOLV	C	0.11%
	TPR	C	0.11%
	WWD	D	0.11%
	WTRG	D	0.11%
	NWSA	D	0.11%
	FWONK	D	0.11%
	ARMK	B	0.11%
	AFRM	C	0.11%
	KNX	C	0.1%
	TWLO	D	0.1%
	MHK	B	0.1%
	CZR	C	0.1%
	DCI	D	0.1%
	SF	A	0.1%
	NYT	C	0.1%
	FHN	D	0.1%
	APA	F	0.1%
	TTC	D	0.1%
	EVR	B	0.1%
	WAL	B	0.1%
	CG	C	0.1%
	MGM	D	0.1%
	PRI	B	0.1%
	HSIC	C	0.1%
	CNH	C	0.1%
	DPZ	F	0.1%
	GPK	B	0.1%
	CBSH	C	0.09%
	CR	C	0.09%
	WAT	C	0.09%
	ALGN	D	0.09%
	WEX	C	0.09%
	ADC	C	0.09%
	LAD	C	0.09%
	FND	C	0.09%
	KBR	D	0.09%
	VOYA	A	0.09%
	BERY	B	0.09%
	AXTA	C	0.09%
	ATI	C	0.09%
	CMA	B	0.09%
	WBS	C	0.09%
	GWRE	A	0.09%
	AR	D	0.09%
	FCN	C	0.09%
	GMED	D	0.09%
	APG	D	0.09%
	TKO	B	0.09%
	AYI	B	0.09%
	FMC	C	0.09%
	DAY	D	0.09%
	PTC	D	0.09%
	RBC	C	0.09%
	AA	D	0.09%
	TW	A	0.09%
	CHRD	F	0.09%
	COLD	D	0.09%
	SKX	C	0.09%
	OSK	D	0.08%
	PB	B	0.08%
	MSA	C	0.08%
	SNV	C	0.08%
	WBA	F	0.08%
	FAF	B	0.08%
	PR	D	0.08%
	JAZZ	D	0.08%
	ARW	C	0.08%
	RGEN	F	0.08%
	ZION	D	0.08%
	SEIC	B	0.08%
	SOFI	C	0.08%
	WTFC	B	0.08%
	RL	B	0.08%
	SWN	D	0.08%
	KEX	C	0.08%
	G	C	0.08%
	BFAM	C	0.08%
	SSD	C	0.08%
	WCC	C	0.08%
	FICO	A	0.08%
	MKSI	F	0.08%
	ACHC	C	0.08%
	LECO	F	0.08%
	MTZ	B	0.08%
	HR	C	0.08%
	BWXT	D	0.08%
	MIDD	C	0.08%
	ELAN	D	0.08%
	CRUS	D	0.08%
	AGNC	A	0.08%
	EXAS	C	0.08%
	ONTO	F	0.08%
	HLI	B	0.08%
	PNFP	B	0.08%
	BWA	D	0.08%
	WYNN	D	0.08%
	BEN	F	0.07%
	AGCO	D	0.07%
	SRCL	A	0.07%
	IVZ	C	0.07%
	RITM	B	0.07%
	RLI	B	0.07%
	GXO	D	0.07%
	LEA	D	0.07%
	SIRI	C	0.07%
	OLLI	C	0.07%
	AZPN	A	0.07%
	WMS	D	0.07%
	FLS	D	0.07%
	BBWI	F	0.07%
	LFUS	D	0.07%
	AXS	B	0.07%
	PARA	F	0.07%
	NOV	D	0.07%
	CROX	C	0.07%
	BIO	C	0.07%
	CGNX	D	0.07%
	OKTA	F	0.07%
	VNO	B	0.07%
	CART	A	0.07%
	CFR	C	0.07%
	VFC	C	0.07%
	MAT	C	0.07%
	AAL	D	0.07%
	OLED	C	0.06%
	CCCS	D	0.06%
	FOX	B	0.06%
	LNC	D	0.06%
	HXL	F	0.06%
	WSC	D	0.06%
	FNB	D	0.06%
	VNT	D	0.06%
	COLB	B	0.06%
	COIN	F	0.06%
	ST	D	0.06%
	WHR	D	0.06%
	THO	D	0.06%
	KD	D	0.06%
	ALK	C	0.06%
	OGN	D	0.06%
	THG	A	0.06%
	BC	C	0.06%
	AMG	C	0.06%
	XRAY	D	0.06%
	MTDR	D	0.06%
	PVH	F	0.06%
	H	C	0.06%
	SN	B	0.06%
	VMI	D	0.06%
	GME	F	0.06%
	MDU	B	0.06%
	DAR	F	0.06%
	WH	B	0.06%
	ESAB	C	0.06%
	MTSI	D	0.06%
	SITE	D	0.05%
	BILL	D	0.05%
	UHAL	B	0.05%
	ROIV	C	0.05%
	GNRC	D	0.05%
	DBX	D	0.05%
	BYD	C	0.05%
	PII	D	0.05%
	SLGN	B	0.05%
	EEFT	D	0.05%
	CPRI	D	0.05%
	AN	D	0.05%
	W	D	0.05%
	S	C	0.05%
	WTM	F	0.05%
	DOCS	B	0.05%
	CUZ	B	0.05%
	OZK	D	0.05%
	FRPT	B	0.05%
	PSN	B	0.05%
	AL	D	0.05%
	AVT	D	0.05%
	JHG	B	0.05%
	RYN	C	0.05%
	SAIA	D	0.05%
	AMED	C	0.04%
	PAYC	D	0.04%
	NWS	D	0.04%
	CNXC	D	0.04%
	NWL	D	0.04%
	PLNT	A	0.04%
	ZI	D	0.04%
	U	D	0.04%
	NVST	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%
	AMKR	F	0.04%
	LBTYK	B	0.04%
	GTES	C	0.04%
	DNB	C	0.04%
	COTY	F	0.04%
	TPG	B	0.04%
	KMPR	D	0.04%
	AWI	B	0.04%
	TYL	C	0.04%
	ALNY	B	0.04%
	LITE	B	0.04%
	MPW	C	0.04%
	PRGO	D	0.04%
	CIVI	F	0.04%
	DXC	C	0.04%
	RH	B	0.04%
	IAC	C	0.04%
	GFS	F	0.04%
	BR	D	0.03%
	RCM	C	0.03%
	ETSY	F	0.03%
	JWN	B	0.03%
	ENOV	F	0.03%
	MASI	D	0.03%
	BOKF	B	0.03%
	YETI	D	0.03%
	HHH	C	0.03%
	PINC	C	0.03%
	ULTA	D	0.03%
	AAP	F	0.03%
	QDEL	D	0.03%
	SHC	B	0.03%
	VAC	F	0.03%
	BRKR	D	0.03%
	AGR	B	0.03%
	SEE	D	0.03%
	BHF	D	0.03%
	AZTA	D	0.03%
	CLVT	D	0.03%
	RKT	B	0.03%
	COLM	B	0.03%
	VNOM	C	0.03%
	ZG	B	0.03%
	CXT	D	0.03%
	FHB	C	0.03%
	SMG	C	0.03%
	PENN	D	0.03%
	SNDR	B	0.02%
	TRIP	F	0.02%
	UAA	C	0.02%
	UA	C	0.02%
	WEN	C	0.02%
	INFA	D	0.02%
	ALGM	F	0.02%
	AS	C	0.02%
	REYN	C	0.02%
	MP	D	0.02%
	TER	D	0.02%
	BIRK	D	0.02%
	PSTG	F	0.02%
	BROS	D	0.02%
	LLYVK	B	0.02%
	HAYW	C	0.02%
	IPGP	F	0.02%
	AZEK	C	0.02%
	VSTS	D	0.02%
	ADT	D	0.02%
	GLOB	D	0.02%
	QS	F	0.02%
	LAZ	A	0.01%
	IONS	F	0.01%
	PLTK	C	0.01%
	CHH	C	0.01%
	CACC	D	0.01%
	TFSL	C	0.01%
	PATH	D	0.01%
	HCP	A	0.01%
	LBRDA	D	0.01%
	LSCC	D	0.01%
	LLYVA	B	0.01%
	CAR	F	0.01%
	TXG	D	0.01%
	SEB	C	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%
	DDS	D	0.01%
	FIVE	D	0.01%
	FWONA	C	0.01%
	HAS	B	0.01%
	LYFT	D	0.01%
	EXEL	B	0.01%
	CERT	F	0.01%
	CNA	C	0.01%
	SEG	C	0.0%
	LOAR	C	0.0%
	PARAA	D	0.0%
	UHAL	B	0.0%
	UWMC	C	0.0%
	GRAL	F	0.0%
	NFE	F	0.0%
	DJT	F	0.0%

IWS Underweight 120 Positions Relative to JPUS

	Symbol	Grade	Weight
	PM	C	-0.46%
	PGR	A	-0.46%
	T	B	-0.46%
	TRGP	B	-0.46%
	MSI	C	-0.44%
	MO	C	-0.44%
	KO	B	-0.43%
	TMUS	C	-0.43%
	HCA	B	-0.43%
	LMT	C	-0.42%
	CL	C	-0.42%
	SO	B	-0.42%
	MDLZ	B	-0.42%
	WELL	B	-0.42%
	KHC	C	-0.41%
	REGN	C	-0.41%
	AMGN	B	-0.41%
	BRK.A	C	-0.41%
	VZ	B	-0.41%
	LLY	C	-0.4%
	CI	C	-0.4%
	RSG	D	-0.4%
	DVA	B	-0.4%
	PEP	C	-0.4%
	ANET	B	-0.4%
	CLX	C	-0.39%
	PSA	B	-0.39%
	PG	C	-0.39%
	META	A	-0.39%
	CMCSA	D	-0.39%
	ORCL	B	-0.38%
	ABBV	C	-0.38%
	MMC	C	-0.38%
	XOM	D	-0.38%
	WM	D	-0.38%
	KMB	D	-0.38%
	GD	B	-0.38%
	UNH	C	-0.37%
	VRTX	D	-0.37%
	TSCO	C	-0.37%
	D	C	-0.37%
	ETN	C	-0.36%
	SRE	B	-0.36%
	ORLY	B	-0.36%
	ADI	D	-0.36%
	AAPL	D	-0.36%
	ELV	C	-0.36%
	AZO	D	-0.36%
	STZ	C	-0.36%
	SCCO	D	-0.35%
	APH	D	-0.35%
	MSFT	C	-0.35%
	TJX	C	-0.35%
	LOW	B	-0.35%
	DUK	C	-0.35%
	MPC	D	-0.35%
	CSCO	B	-0.35%
	NVDA	D	-0.34%
	ABT	C	-0.34%
	INTU	D	-0.34%
	COF	C	-0.34%
	VST	C	-0.34%
	AVGO	C	-0.33%
	ACN	C	-0.33%
	BAH	B	-0.33%
	DHR	B	-0.33%
	GILD	B	-0.33%
	CEG	C	-0.33%
	PSX	D	-0.33%
	KLAC	D	-0.33%
	MNST	C	-0.33%
	PH	B	-0.33%
	EQIX	B	-0.33%
	VLO	D	-0.32%
	MRK	D	-0.32%
	MCK	F	-0.32%
	ZTS	B	-0.32%
	IT	B	-0.31%
	ITW	B	-0.31%
	UNP	B	-0.3%
	CVX	D	-0.3%
	SYK	C	-0.29%
	AMAT	D	-0.29%
	ECL	B	-0.29%
	CB	B	-0.29%
	LIN	B	-0.28%
	CDNS	D	-0.28%
	EOG	D	-0.27%
	CVS	D	-0.27%
	MDT	C	-0.26%
	BAC	D	-0.26%
	LRCX	F	-0.25%
	COP	D	-0.25%
	TGT	C	-0.24%
	CAT	C	-0.24%
	PFE	C	-0.23%
	FCX	D	-0.23%
	NEM	B	-0.23%
	BMY	C	-0.22%
	PLD	C	-0.21%
	QCOM	D	-0.21%
	MEDP	D	-0.2%
	BDX	F	-0.2%
	CELH	F	-0.2%
	KDP	A	-0.19%
	XP	D	-0.19%
	F	D	-0.18%
	TMO	C	-0.18%
	APO	C	-0.16%
	BKNG	B	-0.14%
	CSX	D	-0.13%
	IBM	B	-0.11%
	USB	B	-0.1%
	GOOGL	D	-0.1%
	VVV	D	-0.1%
	CARR	B	-0.09%
	OXY	F	-0.09%
	NKE	D	-0.07%
	ADBE	D	-0.06%
	PCAR	D	-0.05%

IWS: Top Represented Industries & Keywords

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

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

JPUS: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Packaged Foods Oil & Gas E&P Specialty Chemicals Banks - Regional - US Drug Manufacturers - Major REIT - Diversified REIT - Retail Beverages - Soft Drinks Communication Equipment Credit Services Diversified Industrials Health Care Plans Household & Personal Products Information Technology Services REIT - Industrial Specialty Retail Utilities - Diversified Building Materials Chemicals

Keywords: S&P 500 Nasdaq 100 Natural Gas Electricity Real Estate Investment Trust Insurance Electronics Mining Chemical Bank Dow Jones Component Computing Medicine Plastic Real Estate Market Telecommunications Banking Broadband Insurance Products Petroleum Industry