MFUS vs. FAB ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to First Trust Multi Cap Value AlphaDEX Fund (FAB)

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

FAB

First Trust Multi Cap Value AlphaDEX Fund

FAB 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 Multi Cap Value 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 Composite 1500(R) Value 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

$86.82

Average Daily Volume

2,771

Number of Holdings ^*

665

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	FAB
30 Days	0.35%	2.81%
60 Days	4.44%	5.55%
90 Days	6.01%	6.57%
12 Months	31.84%	24.30%

364 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in FAB	Overlap
AAP	C	0.01%	0.17%	0.01%
ABG	B	0.08%	0.14%	0.08%
ABM	B	0.04%	0.05%	0.04%
ACA	B	0.02%	0.09%	0.02%
ACN	B	0.24%	0.09%	0.09%
ADM	F	0.24%	0.38%	0.24%
ADNT	D	0.02%	0.09%	0.02%
AEO	F	0.08%	0.11%	0.08%
AEP	D	0.08%	0.24%	0.08%
AFL	C	0.21%	0.24%	0.21%
AGCO	F	0.02%	0.08%	0.02%
AIG	B	0.36%	0.45%	0.36%
AIR	B	0.02%	0.02%	0.02%
AIZ	A	0.08%	0.09%	0.08%
AKAM	F	0.03%	0.26%	0.03%
ALEX	B	0.01%	0.05%	0.01%
ALLY	C	0.05%	0.37%	0.05%
AMG	B	0.06%	0.22%	0.06%
AMKR	F	0.03%	0.16%	0.03%
AMWD	B	0.01%	0.11%	0.01%
AN	C	0.06%	0.12%	0.06%
ANDE	D	0.02%	0.1%	0.02%
APLE	B	0.03%	0.13%	0.03%
AR	B	0.04%	0.09%	0.04%
ARI	C	0.01%	0.05%	0.01%
ARW	F	0.04%	0.16%	0.04%
ASO	F	0.03%	0.19%	0.03%
ATO	B	0.02%	0.35%	0.02%
AVA	C	0.03%	0.12%	0.03%
AVT	C	0.04%	0.18%	0.04%
BAC	A	0.42%	0.29%	0.29%
BBWI	C	0.01%	0.17%	0.01%
BBY	C	0.22%	0.22%	0.22%
BC	D	0.06%	0.13%	0.06%
BCC	B	0.07%	0.17%	0.07%
BEN	C	0.02%	0.18%	0.02%
BERY	D	0.06%	0.13%	0.06%
BFH	B	0.05%	0.16%	0.05%
BHE	C	0.02%	0.06%	0.02%
BHF	B	0.04%	0.03%	0.03%
BIIB	F	0.07%	0.23%	0.07%
BJ	B	0.04%	0.05%	0.04%
BKE	A	0.03%	0.08%	0.03%
BKR	B	0.07%	0.3%	0.07%
BKU	A	0.03%	0.08%	0.03%
BLDR	C	0.04%	0.23%	0.04%
BTU	C	0.06%	0.14%	0.06%
BWA	B	0.01%	0.21%	0.01%
C	B	0.65%	0.38%	0.38%
CADE	B	0.01%	0.2%	0.01%
CAG	F	0.04%	0.07%	0.04%
CARR	C	0.05%	0.16%	0.05%
CB	C	0.16%	0.34%	0.16%
CC	C	0.02%	0.02%	0.02%
CE	F	0.04%	0.29%	0.04%
CENTA	C	0.01%	0.1%	0.01%
CFG	B	0.04%	0.39%	0.04%
CHTR	B	0.3%	0.31%	0.3%
CI	D	0.13%	0.08%	0.08%
CINF	A	0.02%	0.47%	0.02%
CLF	F	0.01%	0.18%	0.01%
CLX	A	0.13%	0.08%	0.08%
CMA	A	0.04%	0.1%	0.04%
CMC	B	0.06%	0.24%	0.06%
CMCSA	B	0.16%	0.46%	0.16%
CMI	A	0.13%	0.09%	0.09%
CMS	D	0.03%	0.16%	0.03%
CNC	F	0.05%	0.29%	0.05%
CNO	B	0.04%	0.19%	0.04%
CNX	B	0.07%	0.25%	0.07%
CNXN	C	0.01%	0.02%	0.01%
COF	B	0.27%	0.43%	0.27%
COOP	B	0.05%	0.18%	0.05%
COP	C	0.07%	0.46%	0.07%
CPB	F	0.05%	0.08%	0.05%
CRBG	C	0.05%	0.38%	0.05%
CRI	D	0.05%	0.06%	0.05%
CSCO	A	0.65%	0.19%	0.19%
CSGS	B	0.01%	0.06%	0.01%
CSX	B	0.11%	0.18%	0.11%
CTVA	C	0.04%	0.08%	0.04%
CVI	F	0.01%	0.09%	0.01%
CVS	F	0.66%	0.39%	0.39%
CVX	A	0.39%	0.46%	0.39%
CWEN	D	0.01%	0.02%	0.01%
CXW	B	0.02%	0.22%	0.02%
D	D	0.07%	0.25%	0.07%
DAN	D	0.01%	0.08%	0.01%
DBRG	F	0.03%	0.11%	0.03%
DD	D	0.1%	0.08%	0.08%
DDS	B	0.03%	0.18%	0.03%
DEI	B	0.01%	0.03%	0.01%
DG	F	0.1%	0.32%	0.1%
DGX	B	0.09%	0.26%	0.09%
DHI	D	0.07%	0.31%	0.07%
DINO	D	0.01%	0.2%	0.01%
DK	D	0.02%	0.05%	0.02%
DNOW	B	0.02%	0.13%	0.02%
DOW	F	0.02%	0.23%	0.02%
DRH	C	0.03%	0.1%	0.03%
DRI	B	0.03%	0.18%	0.03%
DTE	D	0.02%	0.23%	0.02%
DUK	D	0.14%	0.24%	0.14%
DXC	B	0.01%	0.19%	0.01%
EBAY	C	0.36%	0.24%	0.24%
ED	D	0.06%	0.33%	0.06%
EIX	C	0.05%	0.16%	0.05%
ELV	F	0.16%	0.14%	0.14%
EMN	D	0.04%	0.12%	0.04%
EPC	F	0.02%	0.12%	0.02%
EQR	C	0.04%	0.24%	0.04%
ESNT	D	0.01%	0.18%	0.01%
ETR	B	0.05%	0.39%	0.05%
EVRG	A	0.02%	0.17%	0.02%
EXC	C	0.07%	0.33%	0.07%
EXPD	C	0.11%	0.08%	0.08%
F	C	0.15%	0.45%	0.15%
FAF	C	0.02%	0.04%	0.02%
FANG	C	0.05%	0.37%	0.05%
FDP	B	0.01%	0.03%	0.01%
FE	D	0.03%	0.16%	0.03%
FELE	B	0.01%	0.04%	0.01%
FHI	A	0.03%	0.06%	0.03%
FHN	A	0.01%	0.16%	0.01%
FITB	A	0.04%	0.27%	0.04%
FLR	C	0.01%	0.05%	0.01%
FNF	C	0.03%	0.17%	0.03%
FOXA	A	0.11%	0.46%	0.11%
G	B	0.05%	0.18%	0.05%
GBX	A	0.04%	0.16%	0.04%
GD	C	0.25%	0.09%	0.09%
GEF	B	0.02%	0.13%	0.02%
GEO	B	0.04%	0.09%	0.04%
GES	F	0.01%	0.11%	0.01%
GHC	B	0.02%	0.11%	0.02%
GIII	C	0.01%	0.13%	0.01%
GIS	F	0.19%	0.15%	0.15%
GM	B	0.37%	0.54%	0.37%
GMS	B	0.03%	0.14%	0.03%
GNW	B	0.03%	0.02%	0.02%
GPI	B	0.09%	0.18%	0.09%
GT	C	0.01%	0.14%	0.01%
HBAN	A	0.03%	0.41%	0.03%
HCC	C	0.08%	0.25%	0.08%
HD	B	0.62%	0.08%	0.08%
HIG	C	0.06%	0.34%	0.06%
HII	F	0.02%	0.1%	0.02%
HOG	D	0.02%	0.18%	0.02%
HOLX	D	0.04%	0.08%	0.04%
HP	C	0.02%	0.25%	0.02%
HPE	B	0.11%	0.46%	0.11%
HPQ	B	0.29%	0.18%	0.18%
HRL	F	0.02%	0.24%	0.02%
HSIC	F	0.03%	0.04%	0.03%
HST	D	0.02%	0.18%	0.02%
HSY	F	0.06%	0.16%	0.06%
HTH	B	0.01%	0.05%	0.01%
HUBG	A	0.04%	0.08%	0.04%
IEX	B	0.09%	0.09%	0.09%
IMKTA	B	0.01%	0.12%	0.01%
INGR	B	0.06%	0.14%	0.06%
INTC	C	0.19%	0.39%	0.19%
IOSP	B	0.01%	0.05%	0.01%
IP	B	0.09%	0.3%	0.09%
IPG	F	0.04%	0.08%	0.04%
IVZ	B	0.03%	0.04%	0.03%
JBGS	F	0.01%	0.02%	0.01%
JBHT	C	0.02%	0.19%	0.02%
JBL	C	0.03%	0.15%	0.03%
JEF	B	0.02%	0.05%	0.02%
JNJ	D	1.27%	0.17%	0.17%
JWN	B	0.04%	0.09%	0.04%
JXN	C	0.1%	0.26%	0.1%
KALU	C	0.01%	0.08%	0.01%
KBH	D	0.03%	0.16%	0.03%
KDP	C	0.07%	0.15%	0.07%
KEY	B	0.02%	0.2%	0.02%
KHC	F	0.16%	0.24%	0.16%
KIM	A	0.02%	0.18%	0.02%
KMI	B	0.1%	0.42%	0.1%
KNX	C	0.01%	0.09%	0.01%
KR	A	0.37%	0.36%	0.36%
KSS	D	0.02%	0.11%	0.02%
L	A	0.06%	0.36%	0.06%
LAD	B	0.02%	0.2%	0.02%
LADR	B	0.01%	0.1%	0.01%
LAUR	B	0.02%	0.08%	0.02%
LBRDK	C	0.03%	0.22%	0.03%
LEA	F	0.01%	0.19%	0.01%
LEN	D	0.07%	0.4%	0.07%
LHX	B	0.27%	0.09%	0.09%
LMT	D	0.78%	0.08%	0.08%
LNC	B	0.03%	0.19%	0.03%
LNT	C	0.02%	0.24%	0.02%
LOW	B	0.36%	0.08%	0.08%
LPX	A	0.07%	0.09%	0.07%
LSTR	B	0.09%	0.04%	0.04%
LXP	D	0.02%	0.02%	0.02%
LYB	F	0.16%	0.4%	0.16%
LZB	B	0.02%	0.09%	0.02%
M	C	0.02%	0.18%	0.02%
MAA	C	0.02%	0.08%	0.02%
MAS	D	0.06%	0.08%	0.06%
MATX	B	0.03%	0.19%	0.03%
MDLZ	F	0.24%	0.08%	0.08%
MDU	D	0.02%	0.15%	0.02%
MHO	D	0.04%	0.21%	0.04%
MLI	B	0.08%	0.11%	0.08%
MLKN	D	0.01%	0.1%	0.01%
MMS	F	0.06%	0.08%	0.06%
MOS	D	0.01%	0.18%	0.01%
MPC	D	0.32%	0.41%	0.32%
MS	A	0.2%	0.31%	0.2%
MSM	C	0.06%	0.09%	0.06%
MTB	A	0.04%	0.3%	0.04%
MTG	C	0.02%	0.21%	0.02%
MTH	D	0.06%	0.2%	0.06%
MUR	D	0.01%	0.21%	0.01%
MUSA	B	0.15%	0.04%	0.04%
NAVI	D	0.02%	0.1%	0.02%
NDSN	B	0.04%	0.08%	0.04%
NFG	D	0.05%	0.17%	0.05%
NI	A	0.02%	0.26%	0.02%
NKE	F	0.06%	0.07%	0.06%
NNI	C	0.01%	0.03%	0.01%
NOV	C	0.01%	0.22%	0.01%
NSP	F	0.02%	0.04%	0.02%
NUE	D	0.08%	0.47%	0.08%
NVR	D	0.1%	0.17%	0.1%
NWSA	B	0.04%	0.19%	0.04%
NXST	C	0.06%	0.15%	0.06%
OC	A	0.02%	0.37%	0.02%
ODFL	B	0.02%	0.1%	0.02%
ODP	F	0.02%	0.05%	0.02%
OGN	F	0.05%	0.11%	0.05%
OI	C	0.03%	0.02%	0.02%
OKE	A	0.09%	0.2%	0.09%
OLN	F	0.04%	0.12%	0.04%
OMC	A	0.06%	0.09%	0.06%
OMF	A	0.03%	0.15%	0.03%
OMI	F	0.01%	0.06%	0.01%
OSK	B	0.03%	0.24%	0.03%
PAG	B	0.02%	0.13%	0.02%
PB	B	0.01%	0.09%	0.01%
PBF	F	0.02%	0.21%	0.02%
PDCO	F	0.02%	0.1%	0.02%
PEP	D	0.76%	0.08%	0.08%
PFG	C	0.01%	0.08%	0.01%
PHIN	B	0.02%	0.11%	0.02%
PHM	D	0.1%	0.4%	0.1%
PINC	B	0.02%	0.14%	0.02%
PK	C	0.06%	0.13%	0.06%
PKG	B	0.1%	0.19%	0.1%
PNC	B	0.11%	0.19%	0.11%
PNM	B	0.02%	0.09%	0.02%
PNW	A	0.01%	0.17%	0.01%
POST	D	0.05%	0.12%	0.05%
PPG	F	0.05%	0.17%	0.05%
PPL	A	0.04%	0.25%	0.04%
PRG	B	0.03%	0.1%	0.03%
PRU	B	0.23%	0.18%	0.18%
PSMT	D	0.01%	0.05%	0.01%
PSX	C	0.22%	0.42%	0.22%
PTEN	C	0.01%	0.24%	0.01%
PVH	C	0.02%	0.22%	0.02%
PYPL	A	0.12%	0.09%	0.09%
R	B	0.07%	0.19%	0.07%
RDN	C	0.01%	0.21%	0.01%
REZI	A	0.02%	0.11%	0.02%
RF	A	0.02%	0.28%	0.02%
RGA	A	0.06%	0.18%	0.06%
RHI	B	0.02%	0.05%	0.02%
RLJ	C	0.02%	0.13%	0.02%
RRC	B	0.02%	0.18%	0.02%
RS	C	0.04%	0.48%	0.04%
RUSHA	B	0.04%	0.2%	0.04%
RYN	F	0.03%	0.04%	0.03%
SAH	B	0.01%	0.11%	0.01%
SAM	B	0.02%	0.03%	0.02%
SANM	C	0.04%	0.16%	0.04%
SBH	A	0.02%	0.1%	0.02%
SBUX	B	0.1%	0.08%	0.08%
SCL	C	0.01%	0.05%	0.01%
SEB	F	0.01%	0.11%	0.01%
SEE	C	0.06%	0.04%	0.04%
SEIC	A	0.08%	0.1%	0.08%
SEM	C	0.04%	0.05%	0.04%
SHO	D	0.01%	0.13%	0.01%
SHOO	D	0.03%	0.02%	0.02%
SIG	B	0.04%	0.16%	0.04%
SJM	F	0.04%	0.12%	0.04%
SKX	F	0.02%	0.08%	0.02%
SLB	C	0.01%	0.36%	0.01%
SLGN	B	0.05%	0.09%	0.05%
SLM	A	0.05%	0.09%	0.05%
SM	C	0.03%	0.23%	0.03%
SNDR	B	0.02%	0.08%	0.02%
SON	F	0.04%	0.12%	0.04%
SPB	A	0.01%	0.07%	0.01%
SR	C	0.01%	0.16%	0.01%
SRE	B	0.07%	0.37%	0.07%
SSB	B	0.01%	0.05%	0.01%
SSNC	C	0.02%	0.17%	0.02%
STC	C	0.02%	0.02%	0.02%
STLD	C	0.04%	0.51%	0.04%
SWX	B	0.01%	0.13%	0.01%
SYF	B	0.27%	0.56%	0.27%
SYY	D	0.13%	0.25%	0.13%
T	A	0.74%	0.44%	0.44%
TAP	B	0.08%	0.21%	0.08%
TDS	C	0.04%	0.14%	0.04%
TEX	D	0.05%	0.23%	0.05%
TGNA	B	0.04%	0.15%	0.04%
TGT	C	0.75%	0.25%	0.25%
THO	B	0.07%	0.13%	0.07%
TKR	F	0.04%	0.08%	0.04%
TMHC	B	0.09%	0.22%	0.09%
TNET	C	0.01%	0.08%	0.01%
TOL	B	0.06%	0.43%	0.06%
TPH	C	0.06%	0.2%	0.06%
TPR	A	0.01%	0.05%	0.01%
TROW	A	0.09%	0.48%	0.09%
TRV	B	0.2%	0.27%	0.2%
TSN	B	0.17%	0.17%	0.17%
TTC	F	0.06%	0.04%	0.04%
TTMI	B	0.02%	0.07%	0.02%
UAL	A	0.01%	0.65%	0.01%
UFPI	B	0.06%	0.09%	0.06%
UGI	D	0.01%	0.2%	0.01%
UHAL	D	0.02%	0.08%	0.02%
UHAL	D	0.01%	0.08%	0.01%
UHS	D	0.06%	0.16%	0.06%
ULTA	C	0.04%	0.26%	0.04%
UNF	B	0.03%	0.07%	0.03%
UNM	A	0.04%	0.2%	0.04%
UPS	C	0.25%	0.08%	0.08%
URBN	C	0.05%	0.21%	0.05%
USB	B	0.1%	0.28%	0.1%
UVV	B	0.01%	0.12%	0.01%
VC	F	0.03%	0.12%	0.03%
VLO	C	0.16%	0.44%	0.16%
VNT	C	0.01%	0.1%	0.01%
VSCO	B	0.02%	0.1%	0.02%
VSH	F	0.02%	0.12%	0.02%
VTRS	B	0.13%	0.4%	0.13%
VZ	D	1.03%	0.31%	0.31%
WAFD	B	0.01%	0.05%	0.01%
WAL	B	0.02%	0.04%	0.02%
WBS	A	0.01%	0.16%	0.01%
WCC	B	0.08%	0.16%	0.08%
WERN	B	0.02%	0.08%	0.02%
WFC	A	0.87%	0.43%	0.43%
WGO	B	0.01%	0.08%	0.01%
WHR	B	0.03%	0.13%	0.03%
WKC	C	0.02%	0.11%	0.02%
WMK	B	0.01%	0.11%	0.01%
WPC	F	0.03%	0.08%	0.03%
WRB	B	0.02%	0.09%	0.02%
WTFC	B	0.01%	0.1%	0.01%
WU	F	0.06%	0.12%	0.06%
XHR	B	0.02%	0.07%	0.02%
XOM	B	0.44%	0.45%	0.44%
XRX	F	0.01%	0.08%	0.01%
ZION	B	0.02%	0.16%	0.02%

MFUS Overweight 451 Positions Relative to FAB

Symbol	Grade	Weight
LLY	F	2.52%
META	B	2.36%
BRK.A	B	2.36%
NVDA	A	1.82%
WMT	A	1.72%
ABBV	F	1.65%
AMZN	A	1.64%
AVGO	C	1.63%
ORCL	A	1.42%
COST	B	1.33%
KO	F	1.07%
IBM	D	1.07%
PG	C	1.03%
AMGN	F	1.03%
AAPL	C	0.96%
JPM	A	0.93%
PM	B	0.92%
MRK	F	0.89%
GILD	B	0.87%
QCOM	F	0.8%
UNH	B	0.77%
MO	A	0.73%
PFE	F	0.62%
MMM	C	0.58%
PGR	A	0.57%
GE	D	0.56%
MCK	B	0.56%
AMAT	F	0.55%
MCD	C	0.54%
UNP	D	0.51%
NFLX	A	0.48%
TMUS	A	0.42%
BKNG	A	0.41%
REGN	F	0.4%
BMY	B	0.4%
NOC	D	0.37%
CL	F	0.37%
TJX	A	0.36%
GS	B	0.36%
NOW	A	0.34%
MET	C	0.32%
TXN	B	0.3%
V	A	0.3%
TMO	F	0.3%
SPGI	C	0.29%
ICE	C	0.29%
WM	A	0.28%
ISRG	A	0.28%
MA	B	0.28%
AZO	B	0.28%
THC	B	0.28%
HCA	D	0.27%
DHR	F	0.26%
AON	B	0.25%
ANF	C	0.25%
ALL	B	0.25%
CAH	B	0.25%
NEE	D	0.24%
KLAC	F	0.24%
SFM	B	0.24%
VRTX	B	0.23%
PANW	B	0.23%
FICO	B	0.22%
AXP	B	0.22%
SHW	A	0.22%
UBER	F	0.22%
RTX	D	0.22%
GLW	B	0.21%
GWW	B	0.21%
LII	B	0.21%
ORLY	A	0.2%
CMG	B	0.2%
BSX	A	0.2%
VST	B	0.2%
MMC	D	0.2%
CAT	B	0.2%
MSI	B	0.19%
CTAS	B	0.19%
UTHR	B	0.19%
WSM	F	0.19%
LRCX	F	0.18%
BAH	C	0.18%
BK	B	0.18%
NEM	F	0.18%
FI	A	0.18%
MU	D	0.17%
AMP	A	0.17%
COR	B	0.17%
KMB	D	0.17%
RMD	C	0.17%
EA	A	0.17%
DECK	B	0.16%
CASY	B	0.16%
BR	A	0.16%
SPG	A	0.16%
PLTR	B	0.16%
WSO	B	0.16%
VRSK	A	0.16%
ANET	C	0.15%
AMT	F	0.15%
HWM	B	0.15%
AJG	A	0.15%
TDG	D	0.15%
DVA	C	0.15%
K	A	0.15%
YUM	B	0.14%
PH	A	0.14%
JNPR	D	0.14%
CME	B	0.14%
MCO	C	0.14%
KKR	B	0.14%
IT	B	0.14%
FAST	B	0.13%
RPM	A	0.13%
LDOS	C	0.13%
WBA	D	0.13%
DPZ	C	0.13%
IRM	D	0.13%
RSG	B	0.13%
CHRW	A	0.13%
SO	D	0.13%
EVR	B	0.12%
PWR	B	0.12%
BRO	B	0.12%
BX	A	0.12%
APH	B	0.12%
WELL	B	0.12%
BDX	F	0.12%
CW	C	0.11%
CACI	C	0.11%
XYL	F	0.11%
BWXT	B	0.11%
WTW	A	0.11%
CEG	D	0.11%
GDDY	B	0.11%
ADP	A	0.11%
TSCO	D	0.11%
JKHY	C	0.11%
EXR	D	0.11%
EFX	F	0.11%
AYI	A	0.1%
PSA	D	0.1%
TRGP	B	0.1%
WMB	B	0.1%
NTAP	D	0.1%
AVY	F	0.1%
CRS	B	0.1%
DASH	A	0.1%
GEN	B	0.1%
ITW	B	0.1%
ALSN	B	0.1%
AOS	F	0.09%
ARES	B	0.09%
ADSK	B	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%
MTD	F	0.09%
OTIS	D	0.08%
GEHC	D	0.08%
EMR	A	0.08%
STE	D	0.08%
FIS	B	0.08%
HRB	D	0.08%
HLI	B	0.08%
TFC	B	0.08%
MPWR	F	0.08%
ITT	A	0.08%
SMCI	F	0.08%
CPRT	A	0.08%
ATR	A	0.08%
DKS	D	0.08%
EQH	B	0.08%
GPK	D	0.08%
ECL	C	0.08%
TYL	B	0.08%
SLG	C	0.08%
WDC	D	0.08%
IR	A	0.08%
EXP	B	0.07%
MSCI	B	0.07%
COIN	B	0.07%
CHD	A	0.07%
NSC	B	0.07%
SCI	B	0.07%
TTWO	A	0.07%
ALNY	D	0.07%
GLPI	D	0.07%
MLM	B	0.07%
NRG	C	0.07%
POOL	D	0.07%
BALL	D	0.07%
MNST	B	0.07%
CCI	F	0.07%
VNO	C	0.07%
ATGE	C	0.06%
FCN	F	0.06%
KTB	A	0.06%
STZ	D	0.06%
LECO	C	0.06%
CHE	D	0.06%
GAP	B	0.06%
TW	B	0.06%
WAT	B	0.06%
CPT	C	0.06%
PEG	C	0.06%
WEN	C	0.06%
MKC	D	0.06%
TXRH	A	0.06%
O	D	0.06%
JLL	C	0.06%
LPLA	A	0.06%
JCI	A	0.06%
FFIV	B	0.06%
CCK	D	0.06%
FTNT	B	0.06%
ROP	A	0.06%
APP	B	0.06%
ROL	C	0.06%
SKYW	B	0.06%
ERIE	F	0.05%
SCHW	B	0.05%
WST	B	0.05%
MTN	C	0.05%
SMG	D	0.05%
BAX	F	0.05%
USFD	B	0.05%
NDAQ	B	0.05%
GVA	B	0.05%
HBI	B	0.05%
EXEL	B	0.05%
GNTX	C	0.05%
CBRE	B	0.05%
ANSS	B	0.05%
VIRT	B	0.05%
IDXX	F	0.05%
SUI	F	0.05%
ZTS	D	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%
FCNCA	B	0.05%
SQ	B	0.05%
FIX	B	0.05%
GNRC	B	0.05%
ESS	C	0.04%
DOX	C	0.04%
AMH	C	0.04%
ADBE	C	0.04%
TRN	B	0.04%
CDP	C	0.04%
WH	A	0.04%
INVH	D	0.04%
ES	D	0.04%
ACM	B	0.04%
CLH	B	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%
PSTG	D	0.04%
PRIM	B	0.04%
FDS	A	0.04%
WTM	A	0.04%
SLVM	C	0.04%
HEI	A	0.04%
AROC	B	0.04%
FLO	F	0.04%
VRSN	C	0.04%
FL	F	0.04%
ATI	F	0.04%
LOPE	B	0.04%
FTI	B	0.04%
NBIX	C	0.04%
CPNG	B	0.04%
GATX	B	0.04%
JHG	A	0.04%
CRUS	F	0.04%
PTC	B	0.04%
VTR	C	0.04%
EME	B	0.04%
MAC	B	0.04%
CUBE	D	0.04%
MAR	A	0.04%
ZBRA	B	0.04%
KD	A	0.04%
RGLD	C	0.04%
THG	A	0.04%
VLTO	D	0.04%
SRCL	B	0.04%
MOG.A	B	0.04%
FLEX	B	0.04%
DCI	A	0.04%
XRAY	F	0.03%
HXL	F	0.03%
ORA	B	0.03%
APAM	B	0.03%
DLTR	F	0.03%
SBAC	D	0.03%
BURL	C	0.03%
TFX	F	0.03%
MRO	B	0.03%
NTRS	A	0.03%
UDR	C	0.03%
MAN	F	0.03%
CG	B	0.03%
PLXS	C	0.03%
DELL	C	0.03%
TER	F	0.03%
COHR	C	0.03%
MC	B	0.03%
BFAM	F	0.03%
RLI	A	0.03%
AVB	B	0.03%
CPAY	A	0.03%
RL	B	0.03%
TPX	B	0.03%
LW	B	0.03%
GGG	B	0.03%
X	D	0.03%
AVTR	F	0.03%
RPRX	F	0.03%
CDW	F	0.03%
MASI	B	0.03%
XPO	B	0.03%
BLD	F	0.03%
HUBB	C	0.03%
HOOD	B	0.03%
NYT	C	0.03%
MANH	C	0.03%
MORN	B	0.03%
IFF	F	0.03%
COLD	F	0.03%
AWI	B	0.03%
HE	F	0.02%
SNV	B	0.02%
SATS	D	0.02%
AA	C	0.02%
AXTA	A	0.02%
JBLU	C	0.02%
CSL	B	0.02%
LEG	F	0.02%
TTEK	F	0.02%
OSIS	B	0.02%
TDC	F	0.02%
HNI	B	0.02%
APG	C	0.02%
BXP	D	0.02%
BRKR	F	0.02%
PNR	A	0.02%
PMT	D	0.02%
VFC	C	0.02%
VVV	B	0.02%
LNW	F	0.02%
APOG	B	0.02%
DOV	A	0.02%
PFSI	D	0.02%
YELP	C	0.02%
NWL	B	0.02%
SXT	B	0.02%
NTCT	B	0.02%
GWRE	A	0.02%
MCY	B	0.02%
DLB	D	0.02%
EWBC	B	0.02%
OHI	C	0.02%
DORM	B	0.02%
CCL	B	0.02%
HAE	B	0.02%
CTLT	D	0.02%
KBR	D	0.02%
WMS	F	0.02%
KMPR	A	0.02%
THS	F	0.02%
MSA	D	0.02%
VSTO	A	0.02%
GMED	B	0.02%
COKE	C	0.02%
NEU	C	0.02%
PSN	C	0.02%
MKTX	C	0.02%
SVC	F	0.01%
QRVO	F	0.01%
CPRI	F	0.01%
RKT	F	0.01%
ELAN	C	0.01%
MKSI	C	0.01%
PARA	B	0.01%
CACC	D	0.01%
WOR	F	0.01%
ECPG	C	0.01%
IGT	F	0.01%
ACI	C	0.01%
ARCH	B	0.01%
OUT	B	0.01%
RVTY	C	0.01%
ARMK	B	0.01%
CNS	C	0.01%
ESI	B	0.01%
SPR	F	0.01%
JELD	F	0.01%
SIGI	B	0.01%
PECO	B	0.01%
AMED	F	0.01%
CFR	B	0.01%
BRC	B	0.01%
DY	C	0.01%
STRA	C	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%
MHK	D	0.01%
CROX	F	0.01%
NNN	F	0.01%
INCY	B	0.01%
CR	B	0.01%
SAIC	D	0.01%
AES	F	0.01%
WWD	B	0.01%
H	B	0.01%
ESAB	B	0.01%
RBC	B	0.01%
DTM	A	0.01%
GOLF	B	0.01%
ALGN	D	0.01%
GME	C	0.01%
SCS	B	0.01%
KEX	A	0.01%
ICUI	D	0.01%
ADC	A	0.01%
BMRN	F	0.01%
FYBR	D	0.01%
SF	A	0.01%
FR	D	0.01%
SCCO	F	0.0%
NOMD	F	0.0%
WOLF	F	0.0%
HUN	F	0.0%

MFUS Underweight 302 Positions Relative to FAB

Symbol	Grade	Weight
DAL	A	-0.52%
PCAR	B	-0.5%
EOG	A	-0.45%
HAL	C	-0.44%
CTRA	B	-0.44%
OXY	F	-0.43%
DVN	F	-0.43%
EG	D	-0.4%
EQT	B	-0.39%
BG	D	-0.39%
LNG	B	-0.39%
CTSH	A	-0.37%
FDX	B	-0.36%
ON	F	-0.35%
CNP	B	-0.35%
ZBH	C	-0.35%
XEL	A	-0.35%
APTV	F	-0.34%
CF	B	-0.34%
AEE	B	-0.34%
SWKS	F	-0.32%
SNA	A	-0.31%
TDY	B	-0.28%
LUV	B	-0.27%
STT	B	-0.27%
ATKR	C	-0.26%
MTDR	B	-0.25%
NOG	B	-0.25%
DE	D	-0.25%
TXT	D	-0.25%
STX	D	-0.24%
CIVI	D	-0.23%
OVV	C	-0.23%
AGO	B	-0.23%
AMR	C	-0.22%
CHRD	D	-0.22%
RJF	A	-0.22%
NFE	F	-0.22%
AL	B	-0.22%
RIOT	C	-0.21%
RNR	D	-0.21%
FMC	F	-0.2%
ZM	B	-0.2%
LBRT	F	-0.2%
DAR	B	-0.19%
HRI	C	-0.19%
OZK	B	-0.19%
MGY	B	-0.19%
APA	F	-0.19%
DIS	B	-0.18%
CNXC	F	-0.18%
OTTR	C	-0.18%
KRC	C	-0.18%
JAZZ	B	-0.18%
ADTN	B	-0.18%
SOLV	C	-0.18%
POR	D	-0.17%
ARE	F	-0.17%
BKH	A	-0.17%
MOH	F	-0.17%
DOC	C	-0.17%
WEC	B	-0.17%
GBDC	B	-0.17%
WLK	F	-0.16%
HUM	D	-0.16%
SUM	B	-0.16%
ALK	A	-0.15%
ULH	B	-0.15%
FNB	B	-0.15%
JBT	B	-0.15%
ECVT	C	-0.15%
COLB	A	-0.15%
BMBL	C	-0.15%
GPC	D	-0.15%
EIG	A	-0.14%
CABO	B	-0.14%
CUBI	B	-0.14%
RIG	C	-0.14%
IART	C	-0.14%
KMT	B	-0.14%
VTLE	C	-0.14%
TALO	C	-0.14%
VLY	B	-0.14%
CTOS	B	-0.14%
BYD	A	-0.14%
HELE	C	-0.13%
OGS	B	-0.13%
INVA	C	-0.13%
VAC	B	-0.13%
PLAB	C	-0.13%
WS	B	-0.13%
GL	B	-0.13%
OGE	B	-0.13%
AXS	A	-0.13%
SNX	C	-0.13%
HTZ	C	-0.12%
USM	C	-0.12%
INDB	B	-0.12%
TRMK	B	-0.12%
ASH	F	-0.12%
SPNT	B	-0.12%
RES	F	-0.12%
ENS	D	-0.12%
CRGY	A	-0.12%
LKQ	C	-0.12%
FOR	F	-0.12%
GPOR	B	-0.12%
MRC	B	-0.11%
CCS	F	-0.11%
PII	F	-0.11%
HOV	F	-0.11%
EBC	B	-0.11%
PRDO	B	-0.11%
FFBC	B	-0.11%
KOS	D	-0.11%
PARR	F	-0.11%
BY	B	-0.11%
PEBO	A	-0.11%
CAL	D	-0.11%
BV	C	-0.11%
ABCB	B	-0.1%
AMN	F	-0.1%
UBSI	B	-0.1%
ABR	B	-0.1%
NWN	B	-0.1%
HWC	B	-0.1%
HGV	B	-0.1%
ZD	B	-0.1%
EQC	C	-0.1%
HIW	D	-0.1%
CMCO	C	-0.1%
BECN	B	-0.1%
SCSC	B	-0.1%
WSBC	B	-0.09%
CRK	B	-0.09%
CASH	B	-0.09%
HY	F	-0.09%
CATY	B	-0.09%
SASR	A	-0.09%
WTRG	C	-0.09%
MIDD	D	-0.09%
BANR	B	-0.09%
COLM	B	-0.09%
MODG	F	-0.09%
KEYS	C	-0.09%
ORI	A	-0.09%
CVBF	B	-0.09%
ALKS	C	-0.09%
FIVE	F	-0.09%
KFY	B	-0.09%
APD	B	-0.09%
LH	B	-0.09%
PLYA	B	-0.09%
ASGN	D	-0.09%
OEC	D	-0.09%
CRL	C	-0.09%
BNL	D	-0.09%
CUZ	B	-0.09%
NWE	C	-0.09%
CRC	B	-0.09%
IDA	A	-0.09%
BOKF	B	-0.09%
VSTS	D	-0.09%
J	D	-0.09%
REYN	D	-0.08%
MCRI	A	-0.08%
ARCB	C	-0.08%
AWK	D	-0.08%
FIBK	B	-0.08%
HOPE	B	-0.08%
SRCE	B	-0.08%
VSAT	F	-0.08%
FCF	B	-0.08%
WY	F	-0.08%
FTV	C	-0.08%
ALG	B	-0.08%
NX	C	-0.08%
WSFS	B	-0.08%
TCBK	B	-0.08%
VBTX	B	-0.08%
VRTS	B	-0.08%
FULT	B	-0.08%
EFSC	B	-0.08%
RNST	B	-0.08%
MDT	D	-0.08%
PFBC	B	-0.08%
SFNC	B	-0.08%
FRME	B	-0.08%
KLG	F	-0.08%
IPGP	C	-0.08%
DIOD	F	-0.08%
LILAK	F	-0.08%
DFH	F	-0.07%
LGIH	F	-0.07%
SJW	F	-0.07%
SSTK	D	-0.07%
PEB	F	-0.07%
MRTN	C	-0.07%
BUSE	B	-0.07%
PTVE	C	-0.07%
PBH	A	-0.06%
ENOV	C	-0.06%
NIC	B	-0.06%
KAR	B	-0.06%
HLF	C	-0.06%
FHB	B	-0.06%
SNEX	B	-0.06%
HMN	B	-0.06%
ASB	B	-0.06%
GRBK	D	-0.06%
SCVL	D	-0.06%
LC	B	-0.06%
SHEN	F	-0.05%
DNB	B	-0.05%
UCB	B	-0.05%
PFGC	B	-0.05%
YETI	D	-0.05%
DFIN	D	-0.05%
LCII	D	-0.05%
THRM	F	-0.05%
SYNA	C	-0.05%
AUB	A	-0.05%
OFG	B	-0.05%
GO	C	-0.05%
STBA	B	-0.05%
ROG	D	-0.05%
DEA	D	-0.05%
UMBF	B	-0.05%
GXO	B	-0.05%
KWR	C	-0.05%
EPAM	B	-0.05%
CXT	F	-0.05%
LNN	B	-0.05%
ROCK	C	-0.05%
PNFP	B	-0.05%
MTX	B	-0.05%
TOWN	B	-0.05%
FBNC	B	-0.05%
CAR	C	-0.05%
NWBI	B	-0.05%
SBCF	B	-0.05%
GOGO	C	-0.05%
UPWK	C	-0.04%
FBIN	F	-0.04%
STWD	C	-0.04%
BPOP	C	-0.04%
MGM	D	-0.04%
WD	D	-0.04%
LFUS	D	-0.04%
AVNS	F	-0.04%
NJR	A	-0.04%
CZR	F	-0.04%
FOXF	F	-0.04%
SKY	B	-0.04%
FUL	F	-0.04%
AFG	A	-0.04%
WTS	B	-0.04%
ALIT	C	-0.04%
IAC	F	-0.04%
MAT	C	-0.04%
AVNT	B	-0.04%
VOYA	B	-0.04%
PRGO	C	-0.04%
PATK	C	-0.04%
SHLS	D	-0.03%
EVTC	C	-0.03%
CNMD	C	-0.03%
SAFT	B	-0.03%
MSEX	C	-0.03%
MTRN	B	-0.03%
HAYW	B	-0.03%
PGRE	C	-0.03%
CVCO	B	-0.03%
NVEE	F	-0.03%
IVT	B	-0.03%
NBTB	B	-0.03%
ROIC	A	-0.03%
PPBI	B	-0.03%
BHLB	B	-0.03%
HLIO	C	-0.03%
PFS	B	-0.03%
FBK	B	-0.03%
TCBI	B	-0.03%
CBU	B	-0.03%
MGPI	F	-0.03%
MCW	C	-0.03%
OPCH	F	-0.03%
MYRG	B	-0.03%
OLPX	D	-0.02%
GIC	F	-0.02%
GPRE	F	-0.02%
OXM	D	-0.02%
AIN	C	-0.02%
RC	D	-0.02%
CMTG	F	-0.02%
NMRK	B	-0.02%
XPEL	B	-0.02%
PLUS	F	-0.02%
MSGE	F	-0.02%
KFRC	C	-0.02%
BLMN	F	-0.02%
UPBD	B	-0.02%