IWS vs. SHUS ETF Comparison

Comparison of iShares Russell Mid-cap Value ETF (IWS) to Syntax Stratified U.S. Total Market Hedged ETF (SHUS)

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

$136.51

Average Daily Volume

271,207

Number of Holdings ^*

706

* may have additional holdings in another (foreign) market

SHUS

Syntax Stratified U.S. Total Market Hedged ETF

SHUS Description

The investment seeks to obtain capital growth that meets or exceeds the performance of the S&P Composite 1500® Index over a full market cycle by investing in ETFs or underlying securities that provide Stratified WeightTM U.S. total equity market exposure to companies in the 1500 while seeking risk-managed growth via a defined risk hedging process. The fund will also invest in index options for risk management purposes and to seek to generate additional returns. Syntax?s Stratified Weight? is designed to correct for business risk concentrations that regularly occur in cap-weighted indices and equal-weighted indices.

Grade (RS Rating)

Last Trade

$44.14

Average Daily Volume

2,728

Number of Holdings ^*

500

* may have additional holdings in another (foreign) market

Performance

Period	IWS	SHUS
30 Days	2.24%	1.04%
60 Days	5.83%	5.01%
90 Days	8.58%	5.78%
12 Months	30.58%	19.13%

282 Overlapping Holdings

Symbol	Grade	Weight in IWS	Weight in SHUS	Overlap
A	F	0.43%	0.15%	0.15%
ACGL	D	0.4%	0.14%	0.14%
ADM	F	0.27%	0.36%	0.27%
AEE	A	0.26%	0.08%	0.08%
AES	F	0.1%	0.31%	0.1%
AFL	C	0.66%	0.2%	0.2%
AIZ	A	0.12%	0.2%	0.12%
AJG	A	0.64%	0.03%	0.03%
AKAM	F	0.15%	0.26%	0.15%
ALB	B	0.13%	0.05%	0.05%
ALGN	F	0.07%	0.1%	0.07%
ALL	A	0.47%	0.19%	0.19%
ALLE	D	0.14%	0.07%	0.07%
AMCR	D	0.16%	0.12%	0.12%
AME	A	0.48%	0.12%	0.12%
AMP	A	0.05%	0.09%	0.05%
ANSS	B	0.32%	0.17%	0.17%
AOS	F	0.1%	0.21%	0.1%
APA	F	0.09%	0.07%	0.07%
APTV	D	0.17%	0.39%	0.17%
ARE	F	0.21%	0.1%	0.1%
ATO	A	0.23%	0.32%	0.23%
AVB	A	0.36%	0.1%	0.1%
AVY	F	0.11%	0.06%	0.06%
AWK	D	0.29%	0.32%	0.29%
BALL	D	0.2%	0.12%	0.12%
BAX	F	0.19%	0.05%	0.05%
BBWI	C	0.07%	0.19%	0.07%
BBY	D	0.21%	0.17%	0.17%
BEN	C	0.07%	0.08%	0.07%
BG	D	0.13%	0.36%	0.13%
BIIB	F	0.27%	0.24%	0.24%
BK	B	0.62%	0.11%	0.11%
BKR	B	0.47%	0.35%	0.35%
BLDR	D	0.21%	0.19%	0.19%
BR	A	0.03%	0.11%	0.03%
BRO	A	0.16%	0.03%	0.03%
BWA	B	0.08%	0.41%	0.08%
BXP	D	0.14%	0.11%	0.11%
CAG	F	0.15%	0.21%	0.15%
CAH	A	0.13%	0.19%	0.13%
CBOE	D	0.22%	0.04%	0.04%
CBRE	A	0.45%	0.04%	0.04%
CCI	F	0.5%	0.06%	0.06%
CCL	A	0.26%	0.09%	0.09%
CDW	F	0.14%	0.12%	0.12%
CE	F	0.07%	0.07%	0.07%
CF	B	0.17%	0.09%	0.09%
CFG	B	0.22%	0.05%	0.05%
CHD	B	0.28%	0.41%	0.28%
CHRW	A	0.14%	0.09%	0.09%
CHTR	B	0.4%	0.46%	0.4%
CINF	A	0.25%	0.14%	0.14%
CMI	A	0.53%	0.08%	0.08%
CMS	C	0.22%	0.07%	0.07%
CNC	F	0.34%	0.25%	0.25%
CNP	B	0.21%	0.25%	0.21%
CPB	F	0.09%	0.2%	0.09%
CPT	C	0.14%	0.1%	0.1%
CRL	C	0.12%	0.14%	0.12%
CSGP	D	0.34%	0.04%	0.04%
CTLT	D	0.12%	0.24%	0.12%
CTRA	B	0.2%	0.17%	0.17%
CTSH	A	0.43%	0.13%	0.13%
CTVA	C	0.44%	0.08%	0.08%
CZR	F	0.1%	0.07%	0.07%
DAL	A	0.43%	0.27%	0.27%
DAY	C	0.12%	0.22%	0.12%
DD	D	0.38%	0.05%	0.05%
DFS	B	0.47%	0.68%	0.47%
DG	F	0.18%	0.17%	0.17%
DGX	A	0.19%	0.16%	0.16%
DHI	F	0.54%	0.23%	0.23%
DLR	C	0.64%	0.26%	0.26%
DLTR	F	0.13%	0.17%	0.13%
DOC	C	0.17%	0.11%	0.11%
DOV	A	0.3%	0.17%	0.17%
DOW	F	0.35%	0.07%	0.07%
DPZ	C	0.11%	0.52%	0.11%
DRI	B	0.1%	0.5%	0.1%
DTE	D	0.26%	0.24%	0.24%
DVN	F	0.27%	0.16%	0.16%
EA	A	0.46%	0.48%	0.46%
EBAY	C	0.34%	0.22%	0.22%
ED	D	0.37%	0.24%	0.24%
EFX	D	0.29%	0.04%	0.04%
EG	D	0.14%	0.14%	0.14%
EIX	C	0.34%	0.24%	0.24%
EMN	D	0.13%	0.05%	0.05%
EPAM	B	0.13%	0.13%	0.13%
EQR	C	0.3%	0.1%	0.1%
EQT	B	0.25%	0.18%	0.18%
ES	D	0.23%	0.07%	0.07%
ESS	C	0.21%	0.1%	0.1%
ETR	B	0.34%	0.25%	0.25%
EVRG	A	0.15%	0.08%	0.08%
EXC	C	0.41%	0.29%	0.29%
EXPD	D	0.15%	0.09%	0.09%
EXR	D	0.38%	0.11%	0.11%
FANG	D	0.37%	0.07%	0.07%
FAST	A	0.08%	0.12%	0.08%
FDS	A	0.13%	0.04%	0.04%
FE	D	0.26%	0.24%	0.24%
FFIV	A	0.15%	0.2%	0.15%
FICO	B	0.09%	0.03%	0.03%
FIS	B	0.54%	0.05%	0.05%
FITB	A	0.34%	0.05%	0.05%
FMC	F	0.08%	0.08%	0.08%
FOX	A	0.06%	0.1%	0.06%
FOXA	A	0.11%	0.1%	0.1%
FRT	C	0.1%	0.06%	0.06%
FSLR	F	0.22%	0.2%	0.2%
FTV	D	0.29%	0.03%	0.03%
GEHC	F	0.37%	0.1%	0.1%
GEN	A	0.17%	0.17%	0.17%
GIS	F	0.4%	0.21%	0.21%
GL	B	0.11%	0.19%	0.11%
GLW	C	0.4%	0.19%	0.19%
GNRC	B	0.06%	0.08%	0.06%
GPC	D	0.18%	0.15%	0.15%
GPN	B	0.31%	0.04%	0.04%
GRMN	A	0.36%	0.32%	0.32%
GWW	B	0.07%	0.13%	0.07%
HAL	C	0.28%	0.33%	0.28%
HAS	D	0.01%	0.25%	0.01%
HBAN	B	0.27%	0.05%	0.05%
HES	C	0.15%	0.07%	0.07%
HIG	C	0.37%	0.14%	0.14%
HII	D	0.09%	0.08%	0.08%
HLT	A	0.32%	0.12%	0.12%
HOLX	D	0.19%	0.1%	0.1%
HPE	B	0.31%	0.19%	0.19%
HPQ	B	0.3%	0.34%	0.3%
HRL	F	0.1%	0.36%	0.1%
HSIC	F	0.09%	0.2%	0.09%
HST	C	0.14%	0.11%	0.11%
HSY	D	0.24%	0.17%	0.17%
HUBB	B	0.27%	0.26%	0.26%
HUM	D	0.38%	0.26%	0.26%
HWM	A	0.47%	0.07%	0.07%
IEX	B	0.19%	0.2%	0.19%
IFF	F	0.26%	0.05%	0.05%
INCY	B	0.14%	0.25%	0.14%
INVH	D	0.22%	0.1%	0.1%
IP	C	0.22%	0.06%	0.06%
IPG	F	0.12%	0.33%	0.12%
IQV	F	0.38%	0.13%	0.13%
IR	A	0.45%	0.2%	0.2%
IRM	D	0.16%	0.06%	0.06%
IVZ	C	0.07%	0.09%	0.07%
J	B	0.2%	0.39%	0.2%
JBHT	B	0.17%	0.08%	0.08%
JBL	C	0.15%	0.37%	0.15%
JKHY	C	0.14%	0.05%	0.05%
JNPR	D	0.14%	0.19%	0.14%
K	A	0.23%	0.18%	0.18%
KEY	B	0.19%	0.06%	0.06%
KEYS	C	0.31%	0.2%	0.2%
KIM	A	0.18%	0.06%	0.06%
KMI	B	0.56%	0.25%	0.25%
KMX	C	0.12%	0.14%	0.12%
KR	A	0.43%	0.73%	0.43%
KVUE	B	0.49%	0.41%	0.41%
L	A	0.16%	0.49%	0.16%
LDOS	B	0.29%	0.13%	0.13%
LEN	D	0.02%	0.24%	0.02%
LEN	D	0.45%	0.24%	0.24%
LH	A	0.22%	0.16%	0.16%
LHX	A	0.53%	0.08%	0.08%
LKQ	D	0.11%	0.14%	0.11%
LNT	C	0.16%	0.08%	0.08%
LUV	B	0.21%	0.25%	0.21%
LW	C	0.09%	0.22%	0.09%
LYB	F	0.24%	0.07%	0.07%
MAA	C	0.2%	0.1%	0.1%
MAS	D	0.19%	0.19%	0.19%
MCHP	F	0.42%	0.13%	0.13%
MGM	D	0.09%	0.07%	0.07%
MHK	D	0.08%	0.18%	0.08%
MKC	D	0.21%	0.21%	0.21%
MKTX	C	0.11%	0.04%	0.04%
MLM	B	0.39%	0.17%	0.17%
MOH	F	0.08%	0.25%	0.08%
MOS	D	0.1%	0.08%	0.08%
MRO	B	0.17%	0.07%	0.07%
MSCI	B	0.21%	0.04%	0.04%
MTB	B	0.38%	0.06%	0.06%
MTCH	F	0.09%	0.46%	0.09%
MTD	F	0.3%	0.14%	0.14%
NDAQ	A	0.35%	0.04%	0.04%
NDSN	B	0.16%	0.03%	0.03%
NI	A	0.17%	0.32%	0.17%
NRG	B	0.13%	0.32%	0.13%
NTAP	D	0.15%	0.17%	0.15%
NTRS	A	0.23%	0.08%	0.08%
NUE	C	0.41%	0.25%	0.25%
NVR	D	0.29%	0.3%	0.29%
NWS	B	0.04%	0.1%	0.04%
NWSA	B	0.12%	0.1%	0.1%
O	D	0.54%	0.06%	0.06%
OKE	A	0.68%	0.24%	0.24%
OMC	B	0.22%	0.33%	0.22%
ON	F	0.33%	0.22%	0.22%
OTIS	C	0.44%	0.08%	0.08%
PARA	C	0.07%	0.2%	0.07%
PAYC	B	0.05%	0.21%	0.05%
PAYX	B	0.33%	0.21%	0.21%
PCG	A	0.48%	0.07%	0.07%
PEG	C	0.46%	0.25%	0.25%
PFG	C	0.21%	0.2%	0.2%
PHM	D	0.3%	0.25%	0.25%
PKG	B	0.23%	0.06%	0.06%
PNR	A	0.19%	0.19%	0.19%
PNW	B	0.11%	0.07%	0.07%
PPG	F	0.32%	0.07%	0.07%
PPL	A	0.27%	0.08%	0.08%
PRU	B	0.47%	0.2%	0.2%
PTC	B	0.1%	0.17%	0.1%
PWR	B	0.36%	0.4%	0.36%
QRVO	F	0.07%	0.21%	0.07%
RCL	A	0.38%	0.08%	0.08%
REG	A	0.15%	0.06%	0.06%
RF	B	0.26%	0.06%	0.06%
RJF	A	0.33%	0.25%	0.25%
RL	B	0.1%	0.32%	0.1%
RMD	C	0.29%	0.09%	0.09%
ROK	B	0.31%	0.03%	0.03%
ROST	F	0.39%	0.71%	0.39%
RVTY	C	0.16%	0.1%	0.1%
SBAC	D	0.26%	0.06%	0.06%
SJM	F	0.13%	0.21%	0.13%
SNA	A	0.2%	0.25%	0.2%
SOLV	D	0.11%	0.05%	0.05%
SPG	B	0.47%	0.06%	0.06%
STE	F	0.23%	0.12%	0.12%
STLD	B	0.24%	0.27%	0.24%
STT	B	0.31%	0.11%	0.11%
SW	C	0.29%	0.07%	0.07%
SWK	F	0.15%	0.26%	0.15%
SWKS	F	0.15%	0.21%	0.15%
SYF	B	0.27%	0.68%	0.27%
SYY	B	0.16%	0.73%	0.16%
TAP	B	0.11%	0.25%	0.11%
TDY	A	0.24%	0.03%	0.03%
TECH	B	0.13%	0.15%	0.13%
TER	F	0.02%	0.16%	0.02%
TFX	F	0.1%	0.05%	0.05%
TPR	B	0.13%	0.32%	0.13%
TRMB	B	0.19%	0.03%	0.03%
TROW	B	0.28%	0.08%	0.08%
TSN	C	0.18%	0.35%	0.18%
TTWO	A	0.33%	0.48%	0.33%
TXT	C	0.18%	0.16%	0.16%
TYL	B	0.04%	0.21%	0.04%
UAL	B	0.31%	0.28%	0.28%
UDR	C	0.16%	0.1%	0.1%
UHS	D	0.13%	0.32%	0.13%
ULTA	C	0.03%	0.17%	0.03%
URI	B	0.48%	0.14%	0.14%
VICI	D	0.35%	0.06%	0.06%
VLTO	C	0.15%	0.03%	0.03%
VMC	B	0.31%	0.17%	0.17%
VRSN	C	0.16%	0.27%	0.16%
VTR	C	0.29%	0.11%	0.11%
VTRS	B	0.17%	0.24%	0.17%
WAB	A	0.38%	0.13%	0.13%
WAT	A	0.1%	0.15%	0.1%
WBA	D	0.07%	0.63%	0.07%
WBD	B	0.24%	0.19%	0.19%
WDC	D	0.25%	0.17%	0.17%
WEC	B	0.33%	0.07%	0.07%
WMB	B	0.74%	0.24%	0.24%
WRB	B	0.19%	0.13%	0.13%
WST	B	0.1%	0.05%	0.05%
WTW	A	0.35%	0.04%	0.04%
WY	F	0.25%	0.17%	0.17%
WYNN	F	0.09%	0.08%	0.08%
XEL	A	0.41%	0.07%	0.07%
XYL	D	0.33%	0.19%	0.19%
YUM	B	0.26%	0.5%	0.26%
ZBH	C	0.24%	0.12%	0.12%
ZBRA	A	0.17%	0.13%	0.13%

IWS Overweight 424 Positions Relative to SHUS

Symbol	Grade	Weight
MSTR	B	0.43%
FERG	B	0.42%
FCNCA	B	0.28%
SQ	B	0.26%
ILMN	C	0.26%
LNG	B	0.25%
EXE	A	0.23%
ZM	B	0.23%
COO	D	0.22%
HOOD	B	0.22%
TRU	D	0.21%
WSO	A	0.2%
RS	B	0.2%
CVNA	B	0.19%
UTHR	B	0.19%
CSL	B	0.19%
IBKR	A	0.19%
MKL	A	0.18%
OC	A	0.18%
USFD	A	0.17%
AVTR	F	0.17%
SUI	D	0.17%
THC	B	0.17%
FNF	C	0.17%
SSNC	C	0.17%
TOL	C	0.17%
EME	B	0.16%
COHR	B	0.16%
GGG	B	0.16%
CW	B	0.16%
RGA	A	0.16%
ACM	B	0.16%
RNR	D	0.15%
EWBC	B	0.15%
ITT	A	0.14%
CACI	C	0.14%
CASY	B	0.14%
TWLO	A	0.14%
BMRN	F	0.14%
NVT	B	0.14%
UNM	A	0.14%
GLPI	D	0.14%
ELS	C	0.14%
RPM	A	0.14%
CLH	B	0.14%
ATR	A	0.13%
RRX	C	0.13%
Z	B	0.13%
BJ	B	0.13%
NTNX	B	0.13%
WPC	F	0.13%
FTI	B	0.13%
SCI	B	0.13%
AMH	C	0.13%
BLD	F	0.12%
WWD	B	0.12%
AFRM	B	0.12%
FWONK	A	0.12%
FHN	A	0.12%
CUBE	D	0.12%
CCK	D	0.12%
EVR	B	0.12%
AA	C	0.12%
PFGC	B	0.12%
SOFI	B	0.12%
OVV	C	0.12%
SF	B	0.12%
CG	C	0.12%
WAL	B	0.11%
FBIN	F	0.11%
TTEK	C	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%
LAD	B	0.11%
AYI	B	0.11%
EHC	A	0.11%
OHI	C	0.11%
RPRX	F	0.11%
ARMK	B	0.11%
CIEN	B	0.11%
PRI	A	0.11%
DKS	F	0.11%
ALSN	A	0.11%
DOX	C	0.11%
GWRE	A	0.1%
GPK	D	0.1%
RIVN	D	0.1%
KBR	B	0.1%
JLL	C	0.1%
HLI	B	0.1%
TTC	F	0.1%
AXTA	A	0.1%
ALLY	C	0.1%
JEF	A	0.1%
WCC	B	0.1%
NYT	C	0.1%
GMED	B	0.1%
RBC	B	0.1%
BWXT	A	0.1%
MTZ	B	0.1%
ORI	A	0.1%
PNFP	B	0.1%
CNH	D	0.1%
X	C	0.1%
BRBR	A	0.1%
TW	C	0.1%
CMA	A	0.1%
REXR	F	0.1%
GME	C	0.1%
DCI	A	0.1%
KNX	B	0.1%
SNX	C	0.1%
DTM	B	0.1%
RRC	B	0.09%
FLS	B	0.09%
SEIC	A	0.09%
ROKU	C	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	F	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	B	0.09%
FYBR	D	0.09%
EGP	C	0.09%
COIN	B	0.09%
BRX	A	0.09%
OGE	B	0.09%
CR	B	0.09%
R	A	0.08%
CGNX	C	0.08%
GNTX	C	0.08%
GXO	B	0.08%
BIO	C	0.08%
FR	C	0.08%
AGNC	C	0.08%
FCN	F	0.08%
ATI	D	0.08%
PB	B	0.08%
SSD	D	0.08%
MKSI	C	0.08%
OSK	B	0.08%
VFC	C	0.08%
KEX	B	0.08%
ESAB	B	0.08%
COKE	C	0.08%
MIDD	C	0.08%
CHE	D	0.08%
SKX	F	0.08%
ADC	A	0.08%
RHI	B	0.08%
PR	C	0.08%
JAZZ	B	0.08%
MTSI	B	0.08%
BERY	C	0.08%
SAIC	C	0.08%
NNN	F	0.08%
BPOP	C	0.07%
OLLI	C	0.07%
STWD	D	0.07%
MTDR	C	0.07%
OMF	A	0.07%
VNT	B	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	D	0.07%
ALK	A	0.07%
NOV	C	0.07%
COLB	B	0.07%
DAR	B	0.07%
ONTO	F	0.07%
FAF	C	0.07%
ESI	B	0.07%
COLD	F	0.07%
AXS	A	0.07%
MAT	C	0.07%
DINO	D	0.07%
AZPN	A	0.07%
HRB	D	0.07%
DOCS	B	0.07%
RLI	A	0.07%
FND	F	0.07%
HR	C	0.07%
WH	A	0.07%
WSM	F	0.07%
RGEN	C	0.07%
LSTR	B	0.07%
STAG	D	0.07%
OKTA	C	0.07%
VMI	B	0.07%
WEX	D	0.07%
ELAN	D	0.07%
AVT	C	0.06%
WSC	F	0.06%
BYD	A	0.06%
PSN	B	0.06%
CCCS	B	0.06%
OLN	D	0.06%
LEA	F	0.06%
NFG	C	0.06%
POST	D	0.06%
THO	B	0.06%
SN	C	0.06%
RITM	C	0.06%
CRUS	F	0.06%
LITE	A	0.06%
EXAS	F	0.06%
THG	A	0.06%
BC	C	0.06%
BFAM	F	0.06%
FNB	A	0.06%
IDA	A	0.06%
AGCO	F	0.06%
JHG	B	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	A	0.06%
SAIA	B	0.06%
AMTM	D	0.05%
LINE	F	0.05%
CLF	D	0.05%
OLED	F	0.05%
AN	C	0.05%
GTES	B	0.05%
TPG	B	0.05%
SITE	D	0.05%
M	D	0.05%
GFS	C	0.05%
GAP	B	0.05%
DLB	C	0.05%
EEFT	C	0.05%
SLGN	A	0.05%
WLK	F	0.05%
AWI	B	0.05%
DBX	B	0.05%
AGO	B	0.05%
RYN	F	0.05%
WTM	A	0.05%
CUZ	C	0.05%
KRC	C	0.05%
ST	F	0.05%
CROX	F	0.05%
AL	B	0.05%
TKR	F	0.05%
SON	D	0.05%
OZK	B	0.05%
HXL	D	0.05%
FRPT	B	0.05%
UGI	D	0.05%
ROIV	C	0.05%
SLM	B	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	F	0.04%
W	F	0.04%
ACHC	F	0.04%
ZI	D	0.04%
DNB	B	0.04%
NEU	C	0.04%
PLNT	A	0.04%
NWL	B	0.04%
UHAL	C	0.04%
CIVI	F	0.04%
MSGS	C	0.04%
DXC	B	0.04%
VNOM	C	0.04%
ALNY	D	0.04%
IAC	F	0.04%
RH	C	0.04%
HOG	F	0.04%
FLO	F	0.04%
MSM	B	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	C	0.03%
AZTA	F	0.03%
PINC	A	0.03%
GLOB	B	0.03%
SHC	D	0.03%
QDEL	F	0.03%
ENOV	C	0.03%
SPB	B	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	F	0.03%
CC	C	0.03%
COLM	B	0.03%
VIRT	B	0.03%
SEE	C	0.03%
CXT	D	0.03%
CNM	D	0.03%
MPW	F	0.03%
LLYVK	B	0.03%
PAG	B	0.03%
NSA	D	0.03%
PK	B	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	C	0.03%
AMKR	F	0.03%
SPR	F	0.03%
ECG	C	0.03%
NXST	C	0.03%
SNDR	B	0.02%
REYN	D	0.02%
TRIP	D	0.02%
LEG	F	0.02%
INFA	D	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	F	0.02%
CNXC	F	0.02%
AZEK	B	0.02%
LYFT	B	0.02%
ALAB	B	0.02%
PPC	B	0.02%
PSTG	D	0.02%
ETSY	C	0.02%
SAM	B	0.02%
LCID	F	0.02%
LPX	B	0.02%
RKT	F	0.02%
RCM	B	0.02%
AAP	D	0.02%
JWN	B	0.02%
HAYW	C	0.02%
IPGP	C	0.02%
ADT	B	0.02%
IONS	F	0.01%
TXG	F	0.01%
PLTK	B	0.01%
CHH	B	0.01%
CACC	D	0.01%
DJT	D	0.01%
SEB	D	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	D	0.01%
CNA	C	0.01%
FWONA	A	0.01%
AS	B	0.01%
PYCR	B	0.01%
LLYVA	B	0.01%
DV	C	0.01%
LBRDA	C	0.01%
WOLF	F	0.01%
DDS	C	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	C	0.0%
GRAL	B	0.0%
LAZ	C	0.0%

IWS Underweight 219 Positions Relative to SHUS

Symbol	Grade	Weight
CVX	B	-0.75%
XOM	B	-0.75%
WMT	A	-0.72%
TJX	B	-0.71%
COST	B	-0.7%
COF	B	-0.69%
CVS	F	-0.68%
CMCSA	B	-0.51%
PSX	D	-0.5%
EL	F	-0.49%
VLO	D	-0.49%
MSI	B	-0.49%
MCD	C	-0.49%
AAPL	C	-0.49%
CMG	B	-0.49%
BRK.A	B	-0.49%
SBUX	B	-0.48%
MPC	D	-0.48%
META	B	-0.46%
CLX	A	-0.41%
KMB	F	-0.41%
PG	C	-0.41%
VST	B	-0.4%
CL	F	-0.4%
CEG	D	-0.38%
PM	C	-0.35%
MO	A	-0.35%
CRM	B	-0.35%
ORCL	A	-0.34%
SLB	C	-0.34%
SNPS	B	-0.34%
T	A	-0.33%
TMUS	A	-0.33%
NKE	F	-0.33%
HCA	D	-0.33%
CDNS	B	-0.33%
IBM	C	-0.33%
MSFT	C	-0.32%
VZ	C	-0.32%
LULU	C	-0.3%
FCX	F	-0.29%
DECK	B	-0.29%
TSLA	B	-0.27%
MS	A	-0.26%
ETN	A	-0.26%
EQIX	B	-0.26%
GDDY	A	-0.26%
ZTS	D	-0.25%
STZ	D	-0.25%
MNST	B	-0.25%
BMY	B	-0.25%
SCHW	A	-0.25%
UNH	B	-0.25%
LOW	B	-0.25%
ENPH	F	-0.25%
HD	B	-0.25%
GS	B	-0.25%
AEP	D	-0.24%
MRK	F	-0.24%
D	D	-0.24%
TRGP	B	-0.24%
KDP	D	-0.24%
PFE	F	-0.24%
ABBV	D	-0.24%
NEE	D	-0.24%
NEM	F	-0.24%
GM	A	-0.24%
ELV	F	-0.24%
KO	F	-0.24%
F	C	-0.24%
GILD	C	-0.24%
REGN	F	-0.23%
NXPI	F	-0.23%
VRTX	B	-0.23%
LLY	F	-0.23%
MRNA	F	-0.23%
AMGN	F	-0.23%
JNJ	D	-0.23%
NOW	A	-0.22%
QCOM	F	-0.22%
NFLX	A	-0.22%
AVGO	C	-0.22%
PLTR	B	-0.22%
ADI	F	-0.22%
CPRT	A	-0.22%
GOOGL	B	-0.22%
TXN	C	-0.22%
GOOG	B	-0.22%
KHC	F	-0.21%
CSCO	A	-0.21%
ANET	C	-0.21%
MET	C	-0.21%
ADP	A	-0.21%
MPWR	F	-0.21%
AMZN	A	-0.21%
ERIE	F	-0.2%
INTU	A	-0.2%
DIS	B	-0.2%
TEL	B	-0.19%
PGR	A	-0.19%
AIG	B	-0.19%
RSG	A	-0.18%
CRWD	B	-0.18%
GEV	B	-0.18%
WM	A	-0.18%
MDLZ	F	-0.18%
ROL	B	-0.18%
COR	A	-0.18%
MCK	A	-0.18%
CI	D	-0.18%
APH	B	-0.18%
TGT	C	-0.17%
MMM	C	-0.17%
GE	C	-0.17%
FTNT	B	-0.17%
ITW	A	-0.17%
DELL	B	-0.17%
KLAC	F	-0.17%
STX	D	-0.17%
PEP	D	-0.17%
AMAT	F	-0.17%
CTAS	A	-0.17%
PANW	A	-0.16%
INTC	C	-0.16%
GD	A	-0.16%
BA	F	-0.16%
HON	B	-0.16%
ADSK	A	-0.16%
AZO	C	-0.15%
SMCI	F	-0.15%
MU	D	-0.15%
ADBE	C	-0.15%
TRV	B	-0.14%
CB	C	-0.14%
CAT	C	-0.14%
AMD	F	-0.14%
ORLY	A	-0.14%
TMO	F	-0.14%
IT	A	-0.13%
POOL	D	-0.13%
WFC	A	-0.13%
C	A	-0.13%
DE	D	-0.13%
ACN	C	-0.13%
BKNG	A	-0.13%
NVDA	B	-0.13%
SYK	A	-0.12%
ABNB	C	-0.12%
MAR	A	-0.12%
EXPE	B	-0.12%
ISRG	A	-0.12%
BAC	A	-0.12%
JPM	B	-0.12%
TSCO	C	-0.12%
PCAR	B	-0.12%
DVA	C	-0.11%
WELL	B	-0.11%
UBER	F	-0.11%
PODD	B	-0.1%
DHR	F	-0.1%
PSA	C	-0.1%
AXON	B	-0.09%
KKR	B	-0.09%
NCLH	B	-0.09%
BLK	B	-0.09%
LYV	B	-0.09%
DXCM	C	-0.09%
IDXX	D	-0.09%
SO	D	-0.08%
CARR	C	-0.08%
TT	A	-0.08%
JCI	A	-0.08%
PH	A	-0.08%
UNP	C	-0.08%
NSC	B	-0.08%
LMT	C	-0.08%
NOC	C	-0.08%
BX	A	-0.08%
RTX	C	-0.08%
ODFL	B	-0.08%
LVS	C	-0.08%
CSX	B	-0.08%
UPS	C	-0.08%
OXY	D	-0.07%
COP	C	-0.07%
EOG	A	-0.07%
DUK	D	-0.07%
FDX	B	-0.07%
SRE	A	-0.07%
FI	A	-0.06%
PNC	B	-0.06%
EW	D	-0.06%
ABT	C	-0.06%
MDT	D	-0.06%
PYPL	A	-0.06%
AMT	F	-0.06%
BSX	A	-0.06%
PLD	D	-0.06%
TDG	B	-0.06%
SHW	A	-0.06%
MA	B	-0.05%
AXP	B	-0.05%
APD	B	-0.05%
ECL	C	-0.05%
BDX	D	-0.05%
TFC	B	-0.05%
USB	A	-0.05%
MCO	C	-0.04%
AON	A	-0.04%
SPGI	C	-0.04%
VRSK	A	-0.04%
ICE	D	-0.04%
V	A	-0.04%
CPAY	A	-0.04%
CME	A	-0.04%
LIN	D	-0.04%
EMR	A	-0.03%
ROP	A	-0.03%
MMC	C	-0.03%