MFUS vs. BLV ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Vanguard Long-Term Bond ETF (BLV)

MFUS

PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF

MFUS Description

The investment seeks to track the investment results of the RAFI Dynamic Multi-Factor U.S. Index. The fund seeks to achieve its investment objective by investing at least 80% of its total assets (exclusive of collateral held from securities lending) in the component securities of the RAFI Dynamic Multi-Factor U.S. Index. The underlying index is constructed by RAFI Indices, LLC (the index provider) using a rules-based approach to construct factor portfolios within the underlying index. The underlying index consists of factor portfolios, each of which emphasizes one of the following factors: value, low volatility, quality, momentum and size.

Grade (RS Rating)

Last Trade

$51.22

Average Daily Volume

5,789

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

BLV

Vanguard Long-Term Bond ETF

BLV Description

The investment seeks to track the performance of a market-weighted bond index with a long-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. Long Government/Credit Float Adjusted Index. This Index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities of greater than 10 years and are publicly issued. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds held in the index.

Grade (RS Rating)

Last Trade

$70.25

Average Daily Volume

645,130

Number of Holdings ^*

342

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	BLV
30 Days	0.35%	-3.79%
60 Days	4.44%	-6.94%
90 Days	6.01%	-4.19%
12 Months	31.84%	9.49%

247 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in BLV	Overlap
AAPL	C	0.96%	0.02%	0.02%
ABBV	F	1.65%	0.02%	0.02%
ADC	A	0.01%	0.01%	0.01%
ADM	F	0.24%	0.01%	0.01%
AEP	D	0.08%	0.01%	0.01%
AES	F	0.01%	0.01%	0.01%
AFL	C	0.21%	0.01%	0.01%
AIG	B	0.36%	0.01%	0.01%
AIZ	A	0.08%	0.01%	0.01%
AJG	A	0.15%	0.02%	0.02%
ALL	B	0.25%	0.01%	0.01%
ALLY	C	0.05%	0.04%	0.04%
AMAT	F	0.55%	0.01%	0.01%
AMGN	F	1.03%	0.02%	0.02%
AMT	F	0.15%	0.01%	0.01%
AMZN	A	1.64%	0.03%	0.03%
AON	B	0.25%	0.01%	0.01%
ATO	B	0.02%	0.01%	0.01%
AVA	C	0.03%	0.01%	0.01%
AVB	B	0.03%	0.01%	0.01%
AVGO	C	1.63%	0.03%	0.03%
AXP	B	0.22%	0.02%	0.02%
BAC	A	0.42%	0.01%	0.01%
BAX	F	0.05%	0.01%	0.01%
BDX	F	0.12%	0.01%	0.01%
BEN	C	0.02%	0.01%	0.01%
BHF	B	0.04%	0.02%	0.02%
BIIB	F	0.07%	0.02%	0.02%
BMY	B	0.4%	0.01%	0.01%
BSX	A	0.2%	0.01%	0.01%
BWA	B	0.01%	0.01%	0.01%
C	B	0.65%	0.01%	0.01%
CACC	D	0.01%	0.01%	0.01%
CAG	F	0.04%	0.02%	0.02%
CAH	B	0.25%	0.01%	0.01%
CARR	C	0.05%	0.04%	0.04%
CAT	B	0.2%	0.01%	0.01%
CB	C	0.16%	0.01%	0.01%
CCI	F	0.07%	0.01%	0.01%
CFG	B	0.04%	0.01%	0.01%
CHD	A	0.07%	0.01%	0.01%
CHTR	B	0.3%	0.01%	0.01%
CI	D	0.13%	0.01%	0.01%
CINF	A	0.02%	0.01%	0.01%
CL	F	0.37%	0.01%	0.01%
CMCSA	B	0.16%	0.01%	0.01%
CME	B	0.14%	0.02%	0.02%
CMI	A	0.13%	0.01%	0.01%
CMS	D	0.03%	0.01%	0.01%
COP	C	0.07%	0.01%	0.01%
COST	B	1.33%	0.04%	0.04%
CPB	F	0.05%	0.01%	0.01%
CPT	C	0.06%	0.01%	0.01%
CSCO	A	0.65%	0.03%	0.03%
CSX	B	0.11%	0.01%	0.01%
CVS	F	0.66%	0.01%	0.01%
CVX	A	0.39%	0.01%	0.01%
D	D	0.07%	0.01%	0.01%
DD	D	0.1%	0.04%	0.04%
DELL	C	0.03%	0.04%	0.03%
DG	F	0.1%	0.01%	0.01%
DGX	B	0.09%	0.01%	0.01%
DHR	F	0.26%	0.01%	0.01%
DOV	A	0.02%	0.01%	0.01%
DOW	F	0.02%	0.01%	0.01%
DRI	B	0.03%	0.01%	0.01%
DTE	D	0.02%	0.01%	0.01%
DUK	D	0.14%	0.01%	0.01%
EA	A	0.17%	0.01%	0.01%
EBAY	C	0.36%	0.02%	0.02%
ECL	C	0.08%	0.01%	0.01%
ED	D	0.06%	0.01%	0.01%
EIX	C	0.05%	0.01%	0.01%
EMN	D	0.04%	0.01%	0.01%
EQH	B	0.08%	0.04%	0.04%
EQR	C	0.04%	0.01%	0.01%
ES	D	0.04%	0.01%	0.01%
ESS	C	0.04%	0.01%	0.01%
ETR	B	0.05%	0.01%	0.01%
EVRG	A	0.02%	0.01%	0.01%
EXC	C	0.07%	0.01%	0.01%
EXR	D	0.11%	0.01%	0.01%
FANG	C	0.05%	0.02%	0.02%
FE	D	0.03%	0.01%	0.01%
FIS	B	0.08%	0.01%	0.01%
FITB	A	0.04%	0.04%	0.04%
FNF	C	0.03%	0.01%	0.01%
FOXA	A	0.11%	0.02%	0.02%
GD	C	0.25%	0.01%	0.01%
GE	D	0.56%	0.01%	0.01%
GILD	B	0.87%	0.01%	0.01%
GIS	F	0.19%	0.01%	0.01%
GLW	B	0.21%	0.01%	0.01%
GM	B	0.37%	0.02%	0.02%
GS	B	0.36%	0.01%	0.01%
GWW	B	0.21%	0.01%	0.01%
HCA	D	0.27%	0.01%	0.01%
HD	B	0.62%	0.01%	0.01%
HIG	C	0.06%	0.01%	0.01%
HOG	D	0.02%	0.01%	0.01%
HPE	B	0.11%	0.04%	0.04%
HPQ	B	0.29%	0.03%	0.03%
HRL	F	0.02%	0.01%	0.01%
HSY	F	0.06%	0.01%	0.01%
IBM	D	1.07%	0.01%	0.01%
ICE	C	0.29%	0.02%	0.02%
IFF	F	0.03%	0.01%	0.01%
INGR	B	0.06%	0.01%	0.01%
INTC	C	0.19%	0.01%	0.01%
IP	B	0.09%	0.01%	0.01%
IPG	F	0.04%	0.01%	0.01%
ITW	B	0.1%	0.01%	0.01%
IVZ	B	0.03%	0.01%	0.01%
JBLU	C	0.02%	0.01%	0.01%
JCI	A	0.06%	0.01%	0.01%
JEF	B	0.02%	0.01%	0.01%
JNJ	D	1.27%	0.01%	0.01%
JNPR	D	0.14%	0.01%	0.01%
JPM	A	0.93%	0.01%	0.01%
K	A	0.15%	0.01%	0.01%
KDP	C	0.07%	0.01%	0.01%
KIM	A	0.02%	0.01%	0.01%
KLAC	F	0.24%	0.01%	0.01%
KMB	D	0.17%	0.01%	0.01%
KMI	B	0.1%	0.01%	0.01%
KO	F	1.07%	0.01%	0.01%
KR	A	0.37%	0.01%	0.01%
KSS	D	0.02%	0.01%	0.01%
L	A	0.06%	0.01%	0.01%
LEA	F	0.01%	0.02%	0.01%
LHX	B	0.27%	0.01%	0.01%
LLY	F	2.52%	0.01%	0.01%
LMT	D	0.78%	0.01%	0.01%
LNC	B	0.03%	0.01%	0.01%
LNT	C	0.02%	0.01%	0.01%
LOW	B	0.36%	0.01%	0.01%
LRCX	F	0.18%	0.01%	0.01%
LXP	D	0.02%	0.01%	0.01%
LYB	F	0.16%	0.01%	0.01%
MA	B	0.28%	0.01%	0.01%
MAA	C	0.02%	0.01%	0.01%
MAR	A	0.04%	0.02%	0.02%
MAS	D	0.06%	0.01%	0.01%
MCD	C	0.54%	0.01%	0.01%
MCO	C	0.14%	0.01%	0.01%
MDLZ	F	0.24%	0.02%	0.02%
MET	C	0.32%	0.01%	0.01%
MKC	D	0.06%	0.01%	0.01%
MLM	B	0.07%	0.01%	0.01%
MMC	D	0.2%	0.01%	0.01%
MMM	C	0.58%	0.01%	0.01%
MO	A	0.73%	0.01%	0.01%
MOS	D	0.01%	0.01%	0.01%
MPC	D	0.32%	0.01%	0.01%
MRK	F	0.89%	0.01%	0.01%
MRO	B	0.03%	0.01%	0.01%
MS	A	0.2%	0.02%	0.02%
MSI	B	0.19%	0.01%	0.01%
NDAQ	B	0.05%	0.01%	0.01%
NEE	D	0.24%	0.01%	0.01%
NEM	F	0.18%	0.01%	0.01%
NI	A	0.02%	0.01%	0.01%
NKE	F	0.06%	0.01%	0.01%
NNN	F	0.01%	0.01%	0.01%
NOC	D	0.37%	0.01%	0.01%
NOV	C	0.01%	0.01%	0.01%
NSC	B	0.07%	0.01%	0.01%
NUE	D	0.08%	0.03%	0.03%
NVDA	A	1.82%	0.02%	0.02%
O	D	0.06%	0.01%	0.01%
OC	A	0.02%	0.01%	0.01%
OHI	C	0.02%	0.02%	0.02%
OKE	A	0.09%	0.01%	0.01%
ORCL	A	1.42%	0.01%	0.01%
OTIS	D	0.08%	0.01%	0.01%
PECO	B	0.01%	0.01%	0.01%
PEG	C	0.06%	0.01%	0.01%
PEP	D	0.76%	0.01%	0.01%
PFE	F	0.62%	0.01%	0.01%
PFG	C	0.01%	0.01%	0.01%
PG	C	1.03%	0.01%	0.01%
PGR	A	0.57%	0.01%	0.01%
PH	A	0.14%	0.01%	0.01%
PHM	D	0.1%	0.01%	0.01%
PKG	B	0.1%	0.01%	0.01%
PM	B	0.92%	0.01%	0.01%
PNW	A	0.01%	0.01%	0.01%
PPL	A	0.04%	0.01%	0.01%
PRU	B	0.23%	0.01%	0.01%
PSX	C	0.22%	0.02%	0.02%
PYPL	A	0.12%	0.02%	0.02%
QCOM	F	0.8%	0.01%	0.01%
REGN	F	0.4%	0.01%	0.01%
RF	A	0.02%	0.01%	0.01%
RPM	A	0.13%	0.01%	0.01%
RPRX	F	0.03%	0.01%	0.01%
RSG	B	0.13%	0.01%	0.01%
RTX	D	0.22%	0.01%	0.01%
SBUX	B	0.1%	0.01%	0.01%
SCCO	F	0.0%	0.03%	0.0%
SCHW	B	0.05%	0.01%	0.01%
SHW	A	0.22%	0.01%	0.01%
SIGI	B	0.01%	0.01%	0.01%
SJM	F	0.04%	0.01%	0.01%
SO	D	0.13%	0.01%	0.01%
SPG	A	0.16%	0.01%	0.01%
SPGI	C	0.29%	0.01%	0.01%
SRE	B	0.07%	0.01%	0.01%
STE	D	0.08%	0.01%	0.01%
STLD	C	0.04%	0.01%	0.01%
STZ	D	0.06%	0.01%	0.01%
SWX	B	0.01%	0.01%	0.01%
SYY	D	0.13%	0.01%	0.01%
T	A	0.74%	0.01%	0.01%
TAP	B	0.08%	0.03%	0.03%
TGT	C	0.75%	0.01%	0.01%
TJX	A	0.36%	0.01%	0.01%
TMO	F	0.3%	0.01%	0.01%
TMUS	A	0.42%	0.01%	0.01%
TRV	B	0.2%	0.01%	0.01%
TSN	B	0.17%	0.01%	0.01%
TXN	B	0.3%	0.01%	0.01%
UAL	A	0.01%	0.01%	0.01%
UDR	C	0.03%	0.01%	0.01%
UNH	B	0.77%	0.01%	0.01%
UNM	A	0.04%	0.01%	0.01%
UNP	D	0.51%	0.01%	0.01%
UPS	C	0.25%	0.01%	0.01%
V	A	0.3%	0.01%	0.01%
VLO	C	0.16%	0.02%	0.02%
VRSK	A	0.16%	0.01%	0.01%
VTR	C	0.04%	0.01%	0.01%
VTRS	B	0.13%	0.02%	0.02%
VZ	D	1.03%	0.01%	0.01%
WBA	D	0.13%	0.01%	0.01%
WELL	B	0.12%	0.01%	0.01%
WFC	A	0.87%	0.01%	0.01%
WHR	B	0.03%	0.02%	0.02%
WM	A	0.28%	0.01%	0.01%
WMB	B	0.1%	0.01%	0.01%
WMT	A	1.72%	0.01%	0.01%
WPC	F	0.03%	0.01%	0.01%
WRB	B	0.02%	0.01%	0.01%
WU	F	0.06%	0.02%	0.02%
XOM	B	0.44%	0.01%	0.01%
XYL	F	0.11%	0.01%	0.01%
ZTS	D	0.05%	0.01%	0.01%

MFUS Overweight 568 Positions Relative to BLV

Symbol	Grade	Weight
META	B	2.36%
BRK.A	B	2.36%
MCK	B	0.56%
NFLX	A	0.48%
BKNG	A	0.41%
NOW	A	0.34%
ISRG	A	0.28%
AZO	B	0.28%
THC	B	0.28%
COF	B	0.27%
SYF	B	0.27%
ANF	C	0.25%
SFM	B	0.24%
ACN	B	0.24%
VRTX	B	0.23%
PANW	B	0.23%
FICO	B	0.22%
UBER	F	0.22%
BBY	C	0.22%
LII	B	0.21%
ORLY	A	0.2%
CMG	B	0.2%
VST	B	0.2%
CTAS	B	0.19%
UTHR	B	0.19%
WSM	F	0.19%
BAH	C	0.18%
BK	B	0.18%
FI	A	0.18%
MU	D	0.17%
AMP	A	0.17%
COR	B	0.17%
RMD	C	0.17%
DECK	B	0.16%
KHC	F	0.16%
CASY	B	0.16%
BR	A	0.16%
PLTR	B	0.16%
WSO	B	0.16%
ELV	F	0.16%
ANET	C	0.15%
HWM	B	0.15%
MUSA	B	0.15%
F	C	0.15%
TDG	D	0.15%
DVA	C	0.15%
YUM	B	0.14%
KKR	B	0.14%
IT	B	0.14%
FAST	B	0.13%
CLX	A	0.13%
LDOS	C	0.13%
DPZ	C	0.13%
IRM	D	0.13%
CHRW	A	0.13%
EVR	B	0.12%
PWR	B	0.12%
BRO	B	0.12%
BX	A	0.12%
APH	B	0.12%
CW	C	0.11%
CACI	C	0.11%
BWXT	B	0.11%
WTW	A	0.11%
PNC	B	0.11%
CEG	D	0.11%
GDDY	B	0.11%
EXPD	C	0.11%
ADP	A	0.11%
TSCO	D	0.11%
JKHY	C	0.11%
EFX	F	0.11%
NVR	D	0.1%
AYI	A	0.1%
PSA	D	0.1%
TRGP	B	0.1%
NTAP	D	0.1%
AVY	F	0.1%
CRS	B	0.1%
JXN	C	0.1%
DASH	A	0.1%
GEN	B	0.1%
ALSN	B	0.1%
USB	B	0.1%
AOS	F	0.09%
ARES	B	0.09%
GPI	B	0.09%
IEX	B	0.09%
LSTR	B	0.09%
ADSK	B	0.09%
TROW	A	0.09%
CALM	B	0.09%
URI	B	0.09%
DLR	C	0.09%
DFS	B	0.09%
EHC	B	0.09%
RCL	A	0.09%
HLT	A	0.09%
TMHC	B	0.09%
MTD	F	0.09%
ABG	B	0.08%
HCC	C	0.08%
GEHC	D	0.08%
EMR	A	0.08%
HRB	D	0.08%
HLI	B	0.08%
AEO	F	0.08%
TFC	B	0.08%
WCC	B	0.08%
MPWR	F	0.08%
ITT	A	0.08%
SMCI	F	0.08%
CPRT	A	0.08%
ATR	A	0.08%
SEIC	A	0.08%
DKS	D	0.08%
GPK	D	0.08%
MLI	B	0.08%
TYL	B	0.08%
SLG	C	0.08%
WDC	D	0.08%
IR	A	0.08%
CNX	B	0.07%
EXP	B	0.07%
MSCI	B	0.07%
COIN	B	0.07%
R	B	0.07%
DHI	D	0.07%
SCI	B	0.07%
BCC	B	0.07%
LEN	D	0.07%
TTWO	A	0.07%
ALNY	D	0.07%
BKR	B	0.07%
GLPI	D	0.07%
THO	B	0.07%
NRG	C	0.07%
POOL	D	0.07%
BALL	D	0.07%
LPX	A	0.07%
MNST	B	0.07%
VNO	C	0.07%
BTU	C	0.06%
ATGE	C	0.06%
CMC	B	0.06%
NXST	C	0.06%
FCN	F	0.06%
KTB	A	0.06%
LECO	C	0.06%
CHE	D	0.06%
GAP	B	0.06%
TPH	C	0.06%
TW	B	0.06%
BC	D	0.06%
WAT	B	0.06%
WEN	C	0.06%
SEE	C	0.06%
MMS	F	0.06%
TXRH	A	0.06%
JLL	C	0.06%
LPLA	A	0.06%
RGA	A	0.06%
PK	C	0.06%
AMG	B	0.06%
AN	C	0.06%
FFIV	B	0.06%
MSM	C	0.06%
CCK	D	0.06%
FTNT	B	0.06%
MTH	D	0.06%
TTC	F	0.06%
ROP	A	0.06%
UHS	D	0.06%
OMC	A	0.06%
TOL	B	0.06%
BERY	D	0.06%
APP	B	0.06%
ROL	C	0.06%
UFPI	B	0.06%
SKYW	B	0.06%
URBN	C	0.05%
ERIE	F	0.05%
PPG	F	0.05%
CRBG	C	0.05%
NFG	D	0.05%
WST	B	0.05%
OGN	F	0.05%
MTN	C	0.05%
SMG	D	0.05%
USFD	B	0.05%
CNC	F	0.05%
COOP	B	0.05%
GVA	B	0.05%
HBI	B	0.05%
G	B	0.05%
EXEL	B	0.05%
GNTX	C	0.05%
SLGN	B	0.05%
CBRE	B	0.05%
TEX	D	0.05%
ANSS	B	0.05%
VIRT	B	0.05%
CRI	D	0.05%
IDXX	F	0.05%
POST	D	0.05%
SUI	F	0.05%
BFH	B	0.05%
WAB	B	0.05%
CBT	C	0.05%
A	F	0.05%
IBKR	A	0.05%
LUMN	C	0.05%
LAMR	D	0.05%
NSIT	F	0.05%
SLM	A	0.05%
FCNCA	B	0.05%
SQ	B	0.05%
FIX	B	0.05%
GNRC	B	0.05%
MTB	A	0.04%
HOLX	D	0.04%
DOX	C	0.04%
AMH	C	0.04%
ADBE	C	0.04%
TRN	B	0.04%
BJ	B	0.04%
CDP	C	0.04%
WH	A	0.04%
INVH	D	0.04%
ACM	B	0.04%
SEM	C	0.04%
SON	F	0.04%
CLH	B	0.04%
AVT	C	0.04%
BDC	C	0.04%
LANC	C	0.04%
ELS	B	0.04%
AGNC	C	0.04%
PAYX	B	0.04%
CVLT	B	0.04%
JWN	B	0.04%
SANM	C	0.04%
RUSHA	B	0.04%
PSTG	D	0.04%
HUBG	A	0.04%
PRIM	B	0.04%
FDS	A	0.04%
WTM	A	0.04%
GBX	A	0.04%
BLDR	C	0.04%
SLVM	C	0.04%
HEI	A	0.04%
ULTA	C	0.04%
NWSA	B	0.04%
AROC	B	0.04%
FLO	F	0.04%
GEO	B	0.04%
OLN	F	0.04%
CE	F	0.04%
VRSN	C	0.04%
FL	F	0.04%
CMA	A	0.04%
ATI	F	0.04%
LOPE	B	0.04%
FTI	B	0.04%
NBIX	C	0.04%
CPNG	B	0.04%
CTVA	C	0.04%
GATX	B	0.04%
TKR	F	0.04%
JHG	A	0.04%
SIG	B	0.04%
CRUS	F	0.04%
PTC	B	0.04%
ARW	F	0.04%
EME	B	0.04%
MAC	B	0.04%
CUBE	D	0.04%
AR	B	0.04%
RS	C	0.04%
ZBRA	B	0.04%
KD	A	0.04%
TDS	C	0.04%
RGLD	C	0.04%
CNO	B	0.04%
THG	A	0.04%
VLTO	D	0.04%
SRCL	B	0.04%
TGNA	B	0.04%
MHO	D	0.04%
MOG.A	B	0.04%
NDSN	B	0.04%
ABM	B	0.04%
FLEX	B	0.04%
DCI	A	0.04%
UNF	B	0.03%
XRAY	F	0.03%
DRH	C	0.03%
HXL	F	0.03%
ORA	B	0.03%
BKE	A	0.03%
RYN	F	0.03%
APAM	B	0.03%
OI	C	0.03%
DLTR	F	0.03%
OMF	A	0.03%
SBAC	D	0.03%
BURL	C	0.03%
TFX	F	0.03%
VC	F	0.03%
FHI	A	0.03%
BKU	A	0.03%
NTRS	A	0.03%
AKAM	F	0.03%
MAN	F	0.03%
AMKR	F	0.03%
PRG	B	0.03%
CG	B	0.03%
PLXS	C	0.03%
TER	F	0.03%
DDS	B	0.03%
APLE	B	0.03%
COHR	C	0.03%
LBRDK	C	0.03%
MC	B	0.03%
BFAM	F	0.03%
RLI	A	0.03%
HBAN	A	0.03%
GMS	B	0.03%
GNW	B	0.03%
CPAY	A	0.03%
RL	B	0.03%
TPX	B	0.03%
LW	B	0.03%
GGG	B	0.03%
JBL	C	0.03%
X	D	0.03%
AVTR	F	0.03%
SM	C	0.03%
CDW	F	0.03%
MASI	B	0.03%
DBRG	F	0.03%
SHOO	D	0.03%
MATX	B	0.03%
XPO	B	0.03%
BLD	F	0.03%
HUBB	C	0.03%
ASO	F	0.03%
OSK	B	0.03%
HOOD	B	0.03%
NYT	C	0.03%
KBH	D	0.03%
MANH	C	0.03%
MORN	B	0.03%
COLD	F	0.03%
AWI	B	0.03%
HSIC	F	0.03%
PHIN	B	0.02%
REZI	A	0.02%
HE	F	0.02%
TTMI	B	0.02%
DNOW	B	0.02%
ZION	B	0.02%
SSNC	C	0.02%
LAUR	B	0.02%
WAL	B	0.02%
SNV	B	0.02%
BHE	C	0.02%
UHAL	D	0.02%
SATS	D	0.02%
AA	C	0.02%
AXTA	A	0.02%
CSL	B	0.02%
LEG	F	0.02%
TTEK	F	0.02%
ODFL	B	0.02%
OSIS	B	0.02%
VSH	F	0.02%
ANDE	D	0.02%
TDC	F	0.02%
LAD	B	0.02%
HNI	B	0.02%
APG	C	0.02%
HP	C	0.02%
BXP	D	0.02%
WKC	C	0.02%
SNDR	B	0.02%
NSP	F	0.02%
BRKR	F	0.02%
NAVI	D	0.02%
MDU	D	0.02%
HST	D	0.02%
PNR	A	0.02%
ODP	F	0.02%
RHI	B	0.02%
PMT	D	0.02%
VFC	C	0.02%
VVV	B	0.02%
M	C	0.02%
RLJ	C	0.02%
EPC	F	0.02%
LNW	F	0.02%
APOG	B	0.02%
PFSI	D	0.02%
SAM	B	0.02%
YELP	C	0.02%
PBF	F	0.02%
NWL	B	0.02%
AIR	B	0.02%
SXT	B	0.02%
NTCT	B	0.02%
VSCO	B	0.02%
GWRE	A	0.02%
MCY	B	0.02%
XHR	B	0.02%
DLB	D	0.02%
SKX	F	0.02%
EWBC	B	0.02%
DORM	B	0.02%
AGCO	F	0.02%
CCL	B	0.02%
HAE	B	0.02%
CTLT	D	0.02%
PAG	B	0.02%
SBH	A	0.02%
CC	C	0.02%
GHC	B	0.02%
FAF	C	0.02%
CXW	B	0.02%
KBR	D	0.02%
GEF	B	0.02%
WMS	F	0.02%
RRC	B	0.02%
HII	F	0.02%
KMPR	A	0.02%
DK	D	0.02%
PVH	C	0.02%
THS	F	0.02%
MSA	D	0.02%
STC	C	0.02%
MTG	C	0.02%
VSTO	A	0.02%
GMED	B	0.02%
KEY	B	0.02%
COKE	C	0.02%
ADNT	D	0.02%
PDCO	F	0.02%
LZB	B	0.02%
PINC	B	0.02%
NEU	C	0.02%
PSN	C	0.02%
PNM	B	0.02%
ACA	B	0.02%
JBHT	C	0.02%
MKTX	C	0.02%
WERN	B	0.02%
AAP	C	0.01%
SVC	F	0.01%
QRVO	F	0.01%
KNX	C	0.01%
CPRI	F	0.01%
DINO	D	0.01%
SCL	C	0.01%
UHAL	D	0.01%
RKT	F	0.01%
ELAN	C	0.01%
MLKN	D	0.01%
MKSI	C	0.01%
PARA	B	0.01%
IMKTA	B	0.01%
CNXN	C	0.01%
WOR	F	0.01%
ECPG	C	0.01%
ARI	C	0.01%
IGT	F	0.01%
RDN	C	0.01%
HTH	B	0.01%
ACI	C	0.01%
GIII	C	0.01%
UVV	B	0.01%
SR	C	0.01%
WGO	B	0.01%
SSB	B	0.01%
ARCH	B	0.01%
CVI	F	0.01%
ALEX	B	0.01%
UGI	D	0.01%
SEB	F	0.01%
OUT	B	0.01%
RVTY	C	0.01%
PB	B	0.01%
XRX	F	0.01%
ARMK	B	0.01%
KALU	C	0.01%
CNS	C	0.01%
CENTA	C	0.01%
ESI	B	0.01%
SHO	D	0.01%
SPR	F	0.01%
WAFD	B	0.01%
JELD	F	0.01%
JBGS	F	0.01%
AMED	F	0.01%
WMK	B	0.01%
CLF	F	0.01%
TPR	A	0.01%
CFR	B	0.01%
OMI	F	0.01%
BRC	B	0.01%
DY	C	0.01%
FDP	B	0.01%
STRA	C	0.01%
DAN	D	0.01%
FELE	B	0.01%
SPB	A	0.01%
CNM	D	0.01%
KN	B	0.01%
ONB	B	0.01%
PPC	C	0.01%
CBSH	A	0.01%
IDCC	B	0.01%
TNET	C	0.01%
FHN	A	0.01%
MHK	D	0.01%
DXC	B	0.01%
CROX	F	0.01%
CSGS	B	0.01%
WTFC	B	0.01%
CADE	B	0.01%
ESNT	D	0.01%
BBWI	C	0.01%
LADR	B	0.01%
INCY	B	0.01%
CR	B	0.01%
SAIC	D	0.01%
FLR	C	0.01%
WWD	B	0.01%
H	B	0.01%
ESAB	B	0.01%
MUR	D	0.01%
RBC	B	0.01%
DTM	A	0.01%
GOLF	B	0.01%
GES	F	0.01%
SLB	C	0.01%
ALGN	D	0.01%
IOSP	B	0.01%
GME	C	0.01%
PTEN	C	0.01%
SCS	B	0.01%
NNI	C	0.01%
SAH	B	0.01%
PSMT	D	0.01%
KEX	A	0.01%
AMWD	B	0.01%
ICUI	D	0.01%
CWEN	D	0.01%
BMRN	F	0.01%
VNT	C	0.01%
WBS	A	0.01%
FYBR	D	0.01%
DEI	B	0.01%
SF	A	0.01%
GT	C	0.01%
FR	D	0.01%
NOMD	F	0.0%
WOLF	F	0.0%
HUN	F	0.0%

MFUS Underweight 95 Positions Relative to BLV

Symbol	Grade	Weight
WIT	B	-1.44%
MDT	D	-0.05%
WY	F	-0.04%
CRM	B	-0.03%
HAL	C	-0.03%
BHP	F	-0.03%
TEL	B	-0.02%
CF	B	-0.02%
VMC	B	-0.02%
GPN	B	-0.02%
ADI	D	-0.02%
GOOGL	C	-0.02%
BABA	D	-0.02%
GSK	F	-0.02%
DOC	C	-0.01%
AGO	B	-0.01%
AAT	B	-0.01%
HIW	D	-0.01%
JD	C	-0.01%
FRT	B	-0.01%
REG	A	-0.01%
CHI	A	-0.01%
DT	C	-0.01%
OPI	F	-0.01%
PDM	D	-0.01%
IDA	A	-0.01%
KRC	C	-0.01%
WTRG	C	-0.01%
WEST	D	-0.01%
ORI	A	-0.01%
NYC	D	-0.01%
NWE	C	-0.01%
HON	B	-0.01%
EQIX	B	-0.01%
EOG	A	-0.01%
FTV	C	-0.01%
ALB	C	-0.01%
AFG	A	-0.01%
APTV	F	-0.01%
COO	D	-0.01%
VOYA	B	-0.01%
VMI	B	-0.01%
SNA	A	-0.01%
ROK	B	-0.01%
SBRA	C	-0.01%
ZBH	C	-0.01%
OGE	B	-0.01%
LH	B	-0.01%
NXPI	F	-0.01%
HAS	D	-0.01%
EE	B	-0.01%
FMC	F	-0.01%
EG	D	-0.01%
SYK	A	-0.01%
SWK	F	-0.01%
WEC	B	-0.01%
AEE	B	-0.01%
ACGL	C	-0.01%
ARE	F	-0.01%
CTS	C	-0.01%
ETN	B	-0.01%
AWK	D	-0.01%
EL	F	-0.01%
HUM	D	-0.01%
LIN	D	-0.01%
OGS	B	-0.01%
XEL	A	-0.01%
PLD	D	-0.01%
TT	B	-0.01%
BKH	A	-0.01%
APD	B	-0.01%
CP	F	-0.01%
CNP	B	-0.01%
DE	D	-0.01%
PAA	C	-0.01%
MKL	A	-0.01%
WLK	F	-0.01%
EQNR	D	-0.01%
KOF	F	-0.01%
RJF	A	-0.01%
DVN	F	-0.01%
HES	B	-0.01%
MUFG	A	-0.01%
ET	A	-0.01%
FDX	B	-0.01%
EPD	A	-0.01%
MPLX	A	-0.01%
ABT	C	-0.01%
DIS	B	-0.01%
AZN	F	-0.01%
VOD	F	-0.01%
HSBC	B	-0.01%
PCG	A	-0.01%
BA	F	-0.01%
MSFT	C	-0.01%