MFUS vs. CSM ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to ProShares Large Cap Core Plus (CSM)

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

$50.22

Average Daily Volume

7,364

Number of Holdings ^*

780

* may have additional holdings in another (foreign) market

CSM

ProShares Large Cap Core Plus

CSM Description

The investment seeks investment results before fees and expenses that track the performance of the Credit Suisse 130/30 Large Cap Index (the "index"). The fund invests in securities and derivatives that ProShare Advisors believes, in combination, should track the performance of the index. The index is designed to replicate an investment strategy that establishes either long or short positions in the stocks of 500 leading large-cap U.S. companies (the "Universe") by applying a rules-based ranking and weighting methodology. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$65.10

Average Daily Volume

9,950

Number of Holdings ^*

305

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	CSM
30 Days	3.10%	3.03%
60 Days	4.82%	4.09%
90 Days	5.74%	5.04%
12 Months	28.93%	31.14%

223 Overlapping Holdings

	Symbol	Grade	Weight in MFUS	Weight in CSM	Overlap
	A	C	0.05%	0.32%	0.05%
	AAPL	C	0.67%	4.76%	0.67%
	ABBV	C	1.34%	0.42%	0.42%
	ACN	C	0.19%	0.2%	0.19%
	ADBE	F	0.04%	0.28%	0.04%
	ADSK	C	0.09%	0.15%	0.09%
	AES	C	0.03%	0.28%	0.03%
	AIZ	B	0.07%	0.31%	0.07%
	AKAM	D	0.03%	0.12%	0.03%
	ALL	B	0.36%	0.38%	0.36%
	AMAT	D	0.44%	0.24%	0.24%
	AMGN	B	1.03%	0.04%	0.04%
	AMZN	C	1.27%	2.52%	1.27%
	ANET	B	0.12%	0.32%	0.12%
	AOS	D	0.11%	0.07%	0.07%
	APH	D	0.1%	0.38%	0.1%
	AVGO	C	1.34%	1.37%	1.34%
	BAC	D	0.39%	0.27%	0.27%
	BAX	C	0.04%	0.33%	0.04%
	BBY	C	0.24%	0.3%	0.24%
	BDX	D	0.09%	0.39%	0.09%
	BEN	F	0.04%	0.24%	0.04%
	BIIB	F	0.08%	0.18%	0.08%
	BK	B	0.27%	0.35%	0.27%
	BKNG	C	0.47%	0.5%	0.47%
	BKR	C	0.16%	0.33%	0.16%
	BLDR	C	0.04%	0.17%	0.04%
	BMY	C	0.28%	0.45%	0.28%
	BR	D	0.16%	0.13%	0.13%
	BRK.A	C	2.01%	0.99%	0.99%
	BRO	C	0.13%	0.33%	0.13%
	BWA	D	0.05%	0.15%	0.05%
	BX	B	0.23%	0.38%	0.23%
	CAG	C	0.05%	0.12%	0.05%
	CAH	C	0.35%	0.36%	0.35%
	CAT	B	0.41%	0.1%	0.1%
	CCL	C	0.05%	0.37%	0.05%
	CE	F	0.07%	0.29%	0.07%
	CFG	C	0.06%	0.17%	0.06%
	CHD	D	0.07%	0.06%	0.06%
	CI	C	0.14%	0.46%	0.14%
	CLX	C	0.15%	0.31%	0.15%
	CMCSA	D	0.24%	0.22%	0.22%
	CME	C	0.2%	0.41%	0.2%
	CMG	C	0.22%	0.05%	0.05%
	COF	B	0.42%	0.22%	0.22%
	COST	B	1.21%	0.34%	0.34%
	CPB	C	0.01%	0.11%	0.01%
	CPT	B	0.06%	0.31%	0.06%
	CRM	D	0.35%	0.6%	0.35%
	CSCO	C	0.42%	0.23%	0.23%
	CSX	D	0.08%	0.25%	0.08%
	CTVA	B	0.03%	0.1%	0.03%
	CVS	D	0.8%	0.3%	0.3%
	CVX	D	0.79%	0.15%	0.15%
	DFS	B	0.08%	0.15%	0.08%
	DHR	B	0.27%	0.04%	0.04%
	DLR	B	0.08%	0.07%	0.07%
	EA	D	0.09%	0.19%	0.09%
	EBAY	B	0.34%	0.19%	0.19%
	EMN	B	0.06%	0.32%	0.06%
	EMR	D	0.15%	0.36%	0.15%
	EQIX	C	0.03%	0.27%	0.03%
	ETN	C	0.18%	0.39%	0.18%
	EXC	C	0.12%	0.18%	0.12%
	F	F	0.33%	0.15%	0.15%
	FANG	D	0.04%	0.28%	0.04%
	FAST	C	0.1%	0.04%	0.04%
	FCX	D	0.09%	0.12%	0.09%
	FDS	C	0.05%	0.04%	0.04%
	FFIV	B	0.04%	0.32%	0.04%
	FIS	B	0.08%	0.07%	0.07%
	FITB	B	0.05%	0.14%	0.05%
	FOXA	B	0.08%	0.23%	0.08%
	FTNT	C	0.06%	0.28%	0.06%
	GE	B	1.09%	0.57%	0.57%
	GEHC	C	0.02%	0.23%	0.02%
	GILD	B	0.78%	0.45%	0.45%
	GM	C	0.56%	0.36%	0.36%
	GOOGL	D	1.17%	1.19%	1.17%
	GPC	D	0.02%	0.16%	0.02%
	HAL	F	0.04%	0.23%	0.04%
	HBAN	B	0.03%	0.25%	0.03%
	HCA	B	0.13%	0.18%	0.13%
	HD	B	0.39%	0.3%	0.3%
	HIG	B	0.06%	0.36%	0.06%
	HII	D	0.02%	0.3%	0.02%
	HOLX	B	0.03%	0.1%	0.03%
	HPQ	D	0.27%	0.31%	0.27%
	HRL	C	0.01%	0.06%	0.01%
	HST	C	0.02%	0.32%	0.02%
	HWM	B	0.12%	0.36%	0.12%
	IBM	B	1.32%	0.17%	0.17%
	IDXX	C	0.06%	0.34%	0.06%
	IEX	D	0.08%	0.27%	0.08%
	INCY	C	0.01%	0.31%	0.01%
	INTC	F	0.36%	0.22%	0.22%
	INTU	C	0.26%	0.59%	0.26%
	INVH	C	0.06%	0.32%	0.06%
	IPG	C	0.07%	0.13%	0.07%
	IR	C	0.09%	0.31%	0.09%
	IVZ	B	0.05%	0.16%	0.05%
	JBL	D	0.07%	0.07%	0.07%
	JKHY	B	0.1%	0.13%	0.1%
	JNJ	C	1.03%	0.46%	0.46%
	JPM	D	0.9%	0.66%	0.66%
	KDP	B	0.06%	0.14%	0.06%
	KHC	C	0.16%	0.13%	0.13%
	KMB	D	0.16%	0.36%	0.16%
	KMI	B	0.08%	0.1%	0.08%
	KO	C	0.6%	0.15%	0.15%
	KR	C	0.34%	0.35%	0.34%
	L	C	0.08%	0.31%	0.08%
	LDOS	B	0.08%	0.34%	0.08%
	LEN	B	0.08%	0.38%	0.08%
	LLY	C	2.48%	1.16%	1.16%
	LMT	C	0.52%	0.48%	0.48%
	LOW	B	0.23%	0.04%	0.04%
	LVS	D	0.01%	0.09%	0.01%
	LW	D	0.04%	0.04%	0.04%
	LYB	D	0.21%	0.15%	0.15%
	MA	B	0.79%	0.39%	0.39%
	MAR	C	0.11%	0.28%	0.11%
	MAS	B	0.06%	0.05%	0.05%
	MCD	B	0.4%	0.04%	0.04%
	MET	B	0.36%	0.24%	0.24%
	META	B	2.02%	1.58%	1.58%
	MKC	C	0.08%	0.06%	0.06%
	MKTX	C	0.02%	0.07%	0.02%
	MMC	C	0.19%	0.04%	0.04%
	MNST	D	0.06%	0.06%	0.06%
	MOH	D	0.03%	0.21%	0.03%
	MRK	D	0.87%	0.75%	0.75%
	MSCI	C	0.07%	0.15%	0.07%
	MSI	B	0.15%	0.22%	0.15%
	MTB	B	0.03%	0.29%	0.03%
	MTD	D	0.08%	0.33%	0.08%
	MU	F	0.15%	0.44%	0.15%
	NFLX	B	0.44%	0.42%	0.42%
	NOC	B	0.23%	0.41%	0.23%
	NOW	B	0.37%	0.17%	0.17%
	NRG	C	0.07%	0.34%	0.07%
	NTRS	A	0.02%	0.26%	0.02%
	NUE	F	0.08%	0.09%	0.08%
	NVDA	D	1.6%	4.75%	1.6%
	NWSA	D	0.06%	0.12%	0.06%
	OKE	B	0.08%	0.16%	0.08%
	OMC	B	0.06%	0.24%	0.06%
	ORCL	C	1.13%	0.07%	0.07%
	OTIS	C	0.07%	0.33%	0.07%
	PANW	D	0.25%	0.19%	0.19%
	PARA	F	0.02%	0.18%	0.02%
	PAYX	C	0.03%	0.07%	0.03%
	PCAR	D	0.08%	0.31%	0.08%
	PEP	C	0.62%	0.37%	0.37%
	PFE	C	0.53%	0.14%	0.14%
	PFG	B	0.01%	0.11%	0.01%
	PG	C	0.88%	0.45%	0.45%
	PGR	B	0.5%	0.06%	0.06%
	PH	B	0.13%	0.31%	0.13%
	PHM	B	0.17%	0.36%	0.17%
	PKG	B	0.05%	0.04%	0.04%
	PM	C	0.56%	0.04%	0.04%
	PNR	B	0.08%	0.31%	0.08%
	PPG	D	0.04%	0.25%	0.04%
	PRU	C	0.25%	0.29%	0.25%
	PSA	B	0.03%	0.42%	0.03%
	PTC	D	0.05%	0.04%	0.04%
	QCOM	D	0.62%	0.15%	0.15%
	QRVO	F	0.01%	0.31%	0.01%
	RCL	B	0.08%	0.38%	0.08%
	RJF	C	0.01%	0.32%	0.01%
	RL	C	0.04%	0.3%	0.04%
	RMD	C	0.13%	0.23%	0.13%
	ROL	C	0.05%	0.27%	0.05%
	ROP	C	0.06%	0.12%	0.06%
	ROST	C	0.07%	0.05%	0.05%
	RSG	D	0.13%	0.35%	0.13%
	SJM	C	0.03%	0.2%	0.03%
	SLB	F	0.09%	0.31%	0.09%
	SMCI	F	0.14%	0.07%	0.07%
	SPG	B	0.15%	0.14%	0.14%
	STE	C	0.12%	0.28%	0.12%
	STLD	F	0.04%	0.12%	0.04%
	SYF	C	0.29%	0.32%	0.29%
	SYY	D	0.07%	0.14%	0.07%
	T	C	1.23%	0.21%	0.21%
	TAP	D	0.08%	0.31%	0.08%
	TFX	C	0.03%	0.32%	0.03%
	TGT	C	0.68%	0.35%	0.35%
	TJX	B	0.34%	0.52%	0.34%
	TMUS	C	0.31%	0.46%	0.31%
	TPR	C	0.01%	0.19%	0.01%
	TRGP	B	0.13%	0.36%	0.13%
	TROW	D	0.08%	0.32%	0.08%
	TRV	C	0.32%	0.15%	0.15%
	TSN	C	0.22%	0.31%	0.22%
	TXT	D	0.03%	0.28%	0.03%
	UAL	C	0.01%	0.34%	0.01%
	UBER	C	0.21%	0.42%	0.21%
	UDR	C	0.03%	0.25%	0.03%
	UHS	B	0.09%	0.28%	0.09%
	URI	B	0.09%	0.12%	0.09%
	V	C	0.86%	1.03%	0.86%
	VLO	F	0.54%	0.08%	0.08%
	VRSN	D	0.04%	0.27%	0.04%
	VRTX	D	0.21%	0.05%	0.05%
	VTRS	D	0.13%	0.29%	0.13%
	VZ	B	1.01%	0.06%	0.06%
	WAB	B	0.04%	0.24%	0.04%
	WBA	F	0.14%	0.15%	0.14%
	WDC	D	0.15%	0.27%	0.15%
	WELL	C	0.12%	0.26%	0.12%
	WFC	D	1.4%	0.12%	0.12%
	WM	D	0.23%	0.04%	0.04%
	WMB	B	0.08%	0.16%	0.08%
	WMT	C	1.87%	0.22%	0.22%
	WRB	C	0.02%	0.09%	0.02%
	WST	D	0.04%	0.04%	0.04%
	WTW	C	0.05%	0.14%	0.05%
	XOM	C	0.99%	0.54%	0.54%
	XYL	C	0.11%	0.3%	0.11%
	ZTS	C	0.04%	0.18%	0.04%

MFUS Overweight 557 Positions Relative to CSM

	Symbol	Grade	Weight
	C	C	1.22%
	MPC	F	0.64%
	PSX	F	0.54%
	MO	C	0.52%
	MCK	F	0.51%
	UNP	C	0.48%
	GS	C	0.45%
	REGN	C	0.45%
	AIG	D	0.42%
	MMM	B	0.41%
	CL	D	0.33%
	ADM	D	0.32%
	AZO	D	0.3%
	COP	D	0.3%
	ICE	C	0.29%
	THC	A	0.27%
	LRCX	F	0.27%
	VST	C	0.26%
	ANF	D	0.26%
	CHTR	D	0.24%
	LII	B	0.23%
	KLAC	D	0.23%
	MDLZ	B	0.22%
	FICO	B	0.22%
	SHW	B	0.21%
	TXN	C	0.21%
	DD	B	0.21%
	WSM	D	0.21%
	GLW	C	0.2%
	WSO	C	0.2%
	HPE	D	0.2%
	VRSK	D	0.2%
	UPS	D	0.19%
	BSX	B	0.19%
	AXP	B	0.19%
	LHX	C	0.19%
	CPRT	D	0.19%
	SFM	B	0.19%
	AFL	C	0.19%
	AON	B	0.19%
	CTAS	B	0.18%
	DVA	B	0.18%
	DPZ	F	0.18%
	ORLY	C	0.18%
	DECK	C	0.17%
	MUSA	D	0.17%
	GD	B	0.17%
	GWW	B	0.17%
	IT	B	0.16%
	CB	B	0.16%
	SCHW	D	0.16%
	UTHR	C	0.16%
	CASY	D	0.15%
	TDG	B	0.15%
	BAH	C	0.14%
	KKR	B	0.13%
	PWR	B	0.13%
	JNPR	B	0.13%
	DUK	C	0.13%
	EVR	A	0.12%
	IP	B	0.12%
	CARR	B	0.12%
	EOG	D	0.11%
	USB	B	0.11%
	CMI	C	0.11%
	GIS	B	0.11%
	RPM	B	0.11%
	IRM	C	0.11%
	K	B	0.1%
	GPK	B	0.1%
	PNC	B	0.1%
	AVY	C	0.1%
	TOL	B	0.1%
	YUM	D	0.1%
	MRO	C	0.1%
	APO	C	0.1%
	FTI	D	0.1%
	ALLY	F	0.1%
	UNM	B	0.1%
	CRS	B	0.1%
	GPI	B	0.09%
	ERIE	B	0.09%
	USFD	B	0.09%
	AEO	F	0.09%
	ADP	B	0.09%
	JXN	A	0.09%
	CHRW	B	0.09%
	TFC	C	0.09%
	DASH	C	0.09%
	HRB	C	0.09%
	CEG	C	0.09%
	ARES	B	0.09%
	AJG	D	0.09%
	EFX	B	0.09%
	DKS	D	0.09%
	GDDY	C	0.09%
	CACI	B	0.09%
	NEM	B	0.09%
	WCC	D	0.08%
	OGN	D	0.08%
	LECO	F	0.08%
	WU	F	0.08%
	HLI	B	0.08%
	TYL	C	0.08%
	MTH	A	0.08%
	ALSN	B	0.08%
	AMP	A	0.08%
	ITT	B	0.08%
	ECL	B	0.08%
	HLT	B	0.08%
	EHC	C	0.08%
	RS	D	0.08%
	LUMN	C	0.08%
	BWXT	D	0.08%
	ITW	C	0.08%
	TMHC	A	0.08%
	AN	D	0.08%
	NTAP	D	0.08%
	ELV	C	0.08%
	MPWR	C	0.08%
	CW	B	0.08%
	HUBB	B	0.08%
	LSTR	D	0.08%
	ABG	D	0.07%
	POOL	C	0.07%
	ARW	C	0.07%
	CMC	D	0.07%
	CALM	A	0.07%
	SLG	B	0.07%
	TSCO	C	0.07%
	CCK	A	0.07%
	OSK	F	0.07%
	FCN	D	0.07%
	EQH	C	0.07%
	OC	D	0.07%
	SEIC	C	0.07%
	NVR	B	0.07%
	GAP	F	0.07%
	LPLA	D	0.07%
	ATR	B	0.07%
	GLPI	C	0.07%
	EXPD	C	0.07%
	TTC	D	0.07%
	TTWO	C	0.07%
	EXR	B	0.07%
	AYI	B	0.07%
	BALL	C	0.07%
	MMS	C	0.06%
	TPX	C	0.06%
	PK	D	0.06%
	BERY	B	0.06%
	KD	D	0.06%
	R	A	0.06%
	VNO	B	0.06%
	MSM	D	0.06%
	SBUX	C	0.06%
	HCC	F	0.06%
	KSS	F	0.06%
	CHE	C	0.06%
	BCC	B	0.06%
	BC	C	0.06%
	MLM	D	0.06%
	HSY	C	0.06%
	TEX	F	0.06%
	NSIT	D	0.06%
	X	F	0.06%
	SLM	D	0.06%
	INGR	B	0.06%
	SCI	B	0.06%
	SPGI	B	0.06%
	SEE	D	0.06%
	GNTX	F	0.06%
	VMC	D	0.06%
	PBF	F	0.06%
	CRI	D	0.06%
	COIN	F	0.06%
	MLI	A	0.06%
	THO	D	0.06%
	CNX	B	0.06%
	LPX	B	0.06%
	DGX	B	0.06%
	UFPI	C	0.06%
	AMG	C	0.05%
	ATGE	C	0.05%
	WAT	C	0.05%
	CBT	B	0.05%
	CRUS	D	0.05%
	SKYW	C	0.05%
	ATI	C	0.05%
	WEN	C	0.05%
	TKR	D	0.05%
	MUR	F	0.05%
	RGA	C	0.05%
	LNC	D	0.05%
	LAMR	B	0.05%
	LOPE	D	0.05%
	MTN	D	0.05%
	VIRT	C	0.05%
	TW	B	0.05%
	TXRH	C	0.05%
	NYT	C	0.05%
	NXST	D	0.05%
	FCNCA	D	0.05%
	DELL	D	0.05%
	IBKR	B	0.05%
	SANM	D	0.05%
	FL	D	0.05%
	WPC	C	0.05%
	POST	C	0.05%
	FIX	B	0.05%
	CPAY	B	0.05%
	URBN	F	0.05%
	G	C	0.05%
	SUI	B	0.05%
	DG	F	0.05%
	FLEX	C	0.05%
	JLL	B	0.05%
	CDW	D	0.05%
	PEG	B	0.05%
	EXP	B	0.05%
	MHO	B	0.05%
	KTB	B	0.05%
	ANSS	D	0.05%
	TPH	C	0.05%
	CMA	B	0.04%
	APLE	D	0.04%
	GEO	F	0.04%
	SAIA	D	0.04%
	OLN	D	0.04%
	HUBG	C	0.04%
	WTM	D	0.04%
	FHI	A	0.04%
	TGNA	D	0.04%
	CRBG	D	0.04%
	COLD	D	0.04%
	GATX	D	0.04%
	VC	F	0.04%
	MOS	F	0.04%
	CNO	B	0.04%
	SON	C	0.04%
	AR	F	0.04%
	XRAY	D	0.04%
	PR	F	0.04%
	AMH	C	0.04%
	HEI	B	0.04%
	RGLD	C	0.04%
	GVA	B	0.04%
	RRC	D	0.04%
	NBIX	F	0.04%
	ENTG	F	0.04%
	PVH	F	0.04%
	GNW	B	0.04%
	PINS	F	0.04%
	ELS	C	0.04%
	MAN	C	0.04%
	SEB	D	0.04%
	ABM	D	0.04%
	AGNC	B	0.04%
	FLO	C	0.04%
	MOG.A	B	0.04%
	DCI	C	0.04%
	MTG	B	0.04%
	BTU	D	0.04%
	HXL	F	0.04%
	THG	B	0.04%
	GGG	C	0.04%
	SRCL	A	0.04%
	KBH	A	0.04%
	ACM	B	0.04%
	WHR	D	0.04%
	BDC	B	0.04%
	DOW	D	0.04%
	NDSN	C	0.04%
	NKE	D	0.04%
	LANC	D	0.04%
	STZ	D	0.04%
	GNRC	D	0.04%
	SIG	C	0.04%
	SMG	C	0.04%
	NOV	F	0.04%
	AVT	C	0.04%
	M	F	0.04%
	COOP	C	0.04%
	NFG	B	0.04%
	PAG	D	0.04%
	CLH	A	0.04%
	CUBE	B	0.04%
	SLGN	B	0.04%
	ULTA	D	0.04%
	MAC	B	0.04%
	NEU	D	0.03%
	SSD	D	0.03%
	DRI	B	0.03%
	OKTA	F	0.03%
	ZION	D	0.03%
	COKE	C	0.03%
	FNF	B	0.03%
	HOOD	C	0.03%
	VVV	D	0.03%
	FR	B	0.03%
	PRG	B	0.03%
	NAVI	C	0.03%
	MC	B	0.03%
	RLI	B	0.03%
	DK	F	0.03%
	BKU	C	0.03%
	SBAC	C	0.03%
	BRKR	D	0.03%
	BURL	B	0.03%
	AWI	B	0.03%
	PRIM	B	0.03%
	YELP	F	0.03%
	GBX	C	0.03%
	SM	F	0.03%
	MDU	C	0.03%
	WH	B	0.03%
	HP	F	0.03%
	SHOO	B	0.03%
	DBRG	D	0.03%
	BFAM	C	0.03%
	RUSHA	C	0.03%
	AMKR	F	0.03%
	MORN	C	0.03%
	BJ	D	0.03%
	WTS	C	0.03%
	SBH	B	0.03%
	MCO	B	0.03%
	DLB	D	0.03%
	RPRX	C	0.03%
	HBI	B	0.03%
	HSIC	C	0.03%
	LEA	F	0.03%
	TRN	D	0.03%
	AVA	C	0.03%
	PDCO	F	0.03%
	GT	F	0.03%
	MKL	C	0.03%
	BLD	D	0.03%
	MANH	B	0.03%
	EME	B	0.03%
	SEM	D	0.03%
	SLVM	B	0.03%
	TDS	C	0.03%
	ACA	B	0.03%
	JEF	B	0.03%
	FND	C	0.03%
	DINO	F	0.03%
	DOX	C	0.03%
	BHF	F	0.03%
	MSA	D	0.03%
	XPO	D	0.03%
	CVLT	B	0.03%
	VSH	F	0.03%
	APP	C	0.03%
	TER	D	0.03%
	JHG	B	0.03%
	ASO	C	0.03%
	OMF	D	0.03%
	APG	D	0.03%
	UHAL	A	0.03%
	IFF	B	0.03%
	PSTG	F	0.03%
	GMS	D	0.03%
	AROC	D	0.03%
	CPNG	B	0.03%
	DDS	F	0.03%
	JWN	C	0.03%
	OI	D	0.03%
	AVTR	B	0.03%
	LEG	D	0.02%
	ODFL	D	0.02%
	TTEK	C	0.02%
	VFC	C	0.02%
	APOG	B	0.02%
	NWL	C	0.02%
	BXP	B	0.02%
	HNI	C	0.02%
	LXP	B	0.02%
	SNDR	B	0.02%
	ODP	F	0.02%
	ANDE	D	0.02%
	RHI	D	0.02%
	DORM	B	0.02%
	CHDN	C	0.02%
	EWBC	D	0.02%
	OSIS	D	0.02%
	BBWI	F	0.02%
	SNAP	F	0.02%
	GES	F	0.02%
	XRX	D	0.02%
	BMRN	F	0.02%
	CC	F	0.02%
	IGT	D	0.02%
	SAM	F	0.02%
	MCY	D	0.02%
	GWRE	A	0.02%
	LBRDK	F	0.02%
	DOV	B	0.02%
	XHR	B	0.02%
	AIT	A	0.02%
	AGCO	D	0.02%
	NTCT	C	0.02%
	AA	D	0.02%
	PMT	C	0.02%
	DXC	C	0.02%
	SXT	C	0.02%
	GHC	B	0.02%
	EPC	F	0.02%
	REZI	D	0.02%
	KBR	D	0.02%
	CINF	B	0.02%
	NSP	F	0.02%
	VSTO	C	0.02%
	PSN	B	0.02%
	WMS	D	0.02%
	FLS	D	0.02%
	RLJ	D	0.02%
	PFSI	C	0.02%
	CG	D	0.02%
	GEF	D	0.02%
	HAE	F	0.02%
	GMED	D	0.02%
	SKX	D	0.02%
	KEY	B	0.02%
	AIR	C	0.02%
	KMPR	D	0.02%
	CTLT	B	0.02%
	LNW	B	0.02%
	ORA	C	0.02%
	COHR	C	0.02%
	CXW	F	0.02%
	JBHT	D	0.02%
	PLXS	A	0.02%
	APAM	C	0.02%
	CHRD	F	0.02%
	ALGN	D	0.02%
	AXTA	B	0.02%
	TDC	F	0.02%
	PNM	B	0.02%
	FAF	B	0.02%
	WERN	D	0.02%
	EXEL	C	0.02%
	DRH	C	0.02%
	PINC	C	0.02%
	LZB	C	0.02%
	MASI	F	0.02%
	VNT	F	0.02%
	SHO	C	0.02%
	STC	B	0.02%
	HOG	C	0.02%
	BKE	B	0.02%
	NDAQ	A	0.02%
	ADNT	F	0.02%
	UNF	C	0.02%
	RYN	C	0.02%
	NVT	D	0.02%
	DLTR	F	0.02%
	CTRA	D	0.02%
	THS	C	0.02%
	MATX	B	0.02%
	AAP	F	0.01%
	KNX	C	0.01%
	SCHL	D	0.01%
	UHAL	A	0.01%
	SCL	D	0.01%
	ARCH	F	0.01%
	JAZZ	D	0.01%
	LYFT	D	0.01%
	CACC	F	0.01%
	KALU	F	0.01%
	SCCO	D	0.01%
	ACI	F	0.01%
	SWN	D	0.01%
	ECPG	D	0.01%
	MKSI	F	0.01%
	WGO	D	0.01%
	UVV	D	0.01%
	ESI	D	0.01%
	HELE	D	0.01%
	HPP	D	0.01%
	HUN	D	0.01%
	MTDR	F	0.01%
	MLKN	D	0.01%
	SWX	C	0.01%
	ELAN	D	0.01%
	WOR	D	0.01%
	BECN	D	0.01%
	JELD	D	0.01%
	CNM	F	0.01%
	SYNA	F	0.01%
	ESAB	C	0.01%
	SIGI	D	0.01%
	ARCB	D	0.01%
	CENTA	F	0.01%
	JBGS	C	0.01%
	FLR	D	0.01%
	AMED	C	0.01%
	FHN	D	0.01%
	AFG	B	0.01%
	FELE	C	0.01%
	DTM	B	0.01%
	WAFD	C	0.01%
	SPB	C	0.01%
	WMK	C	0.01%
	BRC	C	0.01%
	DY	B	0.01%
	CADE	C	0.01%
	WTFC	B	0.01%
	KN	D	0.01%
	PECO	B	0.01%
	CR	C	0.01%
	ONB	C	0.01%
	CBSH	C	0.01%
	CBRL	D	0.01%
	CSGS	C	0.01%
	SAIC	C	0.01%
	STRA	F	0.01%
	SF	A	0.01%
	TTMI	D	0.01%
	CPRI	D	0.01%
	CVI	F	0.01%
	DEI	B	0.01%
	AMWD	D	0.01%
	WBS	D	0.01%
	TREX	D	0.01%
	WWD	D	0.01%
	LAUR	C	0.01%
	OMI	D	0.01%
	SAH	D	0.01%
	NNI	B	0.01%
	H	C	0.01%
	RBC	C	0.01%
	LAD	D	0.01%
	IOSP	D	0.01%
	MHK	C	0.01%
	LADR	B	0.01%
	GOLF	D	0.01%
	KEX	C	0.01%
	PSMT	B	0.01%
	TNET	F	0.01%
	CWEN	C	0.01%
	SNV	C	0.01%
	BHE	D	0.01%
	DAN	F	0.01%
	OLLI	C	0.01%
	PTEN	F	0.01%
	ESNT	B	0.01%
	FYBR	C	0.01%
	PHIN	B	0.01%
	SCS	D	0.01%
	DNOW	D	0.01%
	WAL	B	0.01%
	CSL	B	0.01%
	SATS	C	0.01%
	EVRG	B	0.01%
	NOMD	B	0.0%
	WOLF	F	0.0%

MFUS Underweight 82 Positions Relative to CSM

	Symbol	Grade	Weight
	MSFT	C	-4.77%
	GOOG	D	-0.96%
	TSLA	C	-0.75%
	TMO	B	-0.68%
	UNH	C	-0.58%
	TT	B	-0.44%
	PLD	C	-0.4%
	ACGL	C	-0.38%
	NCLH	C	-0.37%
	VTR	C	-0.36%
	AME	C	-0.36%
	CDNS	D	-0.36%
	GRMN	D	-0.36%
	XEL	B	-0.36%
	AVB	B	-0.36%
	SNPS	D	-0.35%
	CTSH	C	-0.35%
	EQR	B	-0.35%
	ETR	B	-0.34%
	TEL	D	-0.34%
	CNC	D	-0.34%
	CBOE	C	-0.33%
	CBRE	A	-0.33%
	CNP	C	-0.33%
	AAL	D	-0.32%
	STX	C	-0.32%
	SWK	B	-0.32%
	WY	C	-0.32%
	TDY	B	-0.32%
	LYV	B	-0.32%
	FDX	C	-0.31%
	MAA	B	-0.31%
	SNA	C	-0.31%
	NI	B	-0.31%
	WYNN	D	-0.3%
	DVN	F	-0.3%
	IQV	C	-0.3%
	EIX	C	-0.29%
	EG	C	-0.29%
	EL	F	-0.29%
	DHI	B	-0.29%
	PCG	C	-0.29%
	SWKS	D	-0.28%
	BG	D	-0.28%
	MDT	C	-0.28%
	PAYC	D	-0.27%
	LULU	D	-0.27%
	ATO	B	-0.26%
	APTV	D	-0.26%
	GL	C	-0.22%
	PYPL	B	-0.22%
	LNT	B	-0.21%
	AMD	D	-0.19%
	MGM	F	-0.19%
	ABNB	D	-0.19%
	SYK	C	-0.18%
	CRWD	D	-0.16%
	DAY	D	-0.16%
	APD	B	-0.14%
	PNW	C	-0.14%
	FSLR	C	-0.13%
	CRL	F	-0.13%
	DTE	C	-0.13%
	PODD	B	-0.13%
	ON	D	-0.13%
	ALLE	B	-0.12%
	LKQ	F	-0.11%
	FE	C	-0.11%
	DIS	D	-0.1%
	APA	F	-0.1%
	MTCH	C	-0.09%
	ISRG	B	-0.09%
	LIN	B	-0.09%
	FTV	C	-0.07%
	ABT	C	-0.06%
	DXCM	F	-0.06%
	TRMB	C	-0.04%
	J	C	-0.04%
	ARE	C	-0.04%
	CSGP	D	-0.04%
	EPAM	F	-0.04%
	RF	B	-0.04%

MFUS: Top Represented Industries & Keywords

Industries: Diversified Industrials Asset Management Banks - Regional - US Software - Application Business Services Packaged Foods Specialty Chemicals Specialty Retail Building Materials Capital Markets Insurance - Property & Casualty Oil & Gas E&P Aerospace & Defense Credit Services Packaging & Containers Engineering & Construction Information Technology Services Semiconductors Medical Instruments & Supplies REIT - Diversified

Keywords: S&P 500 Nasdaq 100 Insurance Chemical Aerospace Computing Mining Natural Gas Electronics Bank Banking Real Estate Investment Trust Telecommunications Transport Building Materials Construction Retailing Beverage Dow Jones Component Plastic

CSM: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Drug Manufacturers - Major Diagnostics & Research Medical Instruments & Supplies Semiconductors Packaged Foods Asset Management Credit Services REIT - Residential Utilities - Regulated Electric Banks - Regional - US Business Services Health Care Plans Household & Personal Products Information Technology Services Insurance - Property & Casualty Internet Content & Information Specialty Industrial Machinery Aerospace & Defense

Keywords: S&P 500 Nasdaq 100 Computing Dow Jones Component Natural Gas Insurance Electronics Electricity Medicine Aerospace Bank Telecommunications Banking Mobile Devices Real Estate Investment Trust Work From Home Chemical Transport Disability Insurance Products