MFUS vs. FEX ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to First Trust Large Cap Core AlphaDEX (FEX)

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

$51.86

Average Daily Volume

5,422

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

FEX

First Trust Large Cap Core AlphaDEX

FEX 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 Large Cap Core 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 500(R) 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

$111.89

Average Daily Volume

18,794

Number of Holdings ^*

373

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	FEX
30 Days	1.40%	5.24%
60 Days	3.06%	7.76%
90 Days	4.64%	9.59%
12 Months	31.57%	32.25%

298 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in FEX	Overlap
AAPL	C	0.96%	0.17%	0.17%
ACN	B	0.25%	0.08%	0.08%
ADM	D	0.22%	0.37%	0.22%
ADSK	A	0.09%	0.09%	0.09%
AEP	C	0.08%	0.32%	0.08%
AFL	B	0.21%	0.34%	0.21%
AIG	B	0.34%	0.35%	0.34%
AJG	A	0.16%	0.18%	0.16%
AKAM	D	0.02%	0.29%	0.02%
ALL	A	0.26%	0.45%	0.26%
ALLY	C	0.05%	0.34%	0.05%
ALNY	D	0.06%	0.29%	0.06%
AMGN	F	0.94%	0.07%	0.07%
AMP	A	0.18%	0.31%	0.18%
AMT	C	0.13%	0.14%	0.13%
AMZN	C	1.71%	0.09%	0.09%
ANET	C	0.14%	0.33%	0.14%
AON	A	0.24%	0.09%	0.09%
APH	A	0.12%	0.09%	0.09%
APP	B	0.11%	0.97%	0.11%
ARES	A	0.09%	0.09%	0.09%
ATO	A	0.02%	0.36%	0.02%
AVB	B	0.03%	0.09%	0.03%
AVGO	D	1.59%	0.24%	0.24%
AVY	F	0.09%	0.08%	0.08%
AXP	A	0.23%	0.45%	0.23%
AZO	C	0.28%	0.08%	0.08%
BAC	A	0.45%	0.3%	0.3%
BAH	F	0.15%	0.29%	0.15%
BBY	D	0.21%	0.22%	0.21%
BDX	F	0.11%	0.08%	0.08%
BIIB	F	0.07%	0.21%	0.07%
BK	A	0.18%	0.46%	0.18%
BKNG	A	0.42%	0.3%	0.3%
BKR	A	0.08%	0.4%	0.08%
BLD	D	0.03%	0.07%	0.03%
BLDR	D	0.04%	0.31%	0.04%
BLK	B	0.19%	0.09%	0.09%
BR	A	0.17%	0.18%	0.17%
BRK.A	B	2.42%	0.26%	0.26%
BRO	B	0.12%	0.36%	0.12%
BSX	A	0.2%	0.27%	0.2%
BURL	B	0.03%	0.44%	0.03%
C	A	0.69%	0.37%	0.37%
CAG	F	0.04%	0.07%	0.04%
CARR	C	0.05%	0.23%	0.05%
CASY	A	0.16%	0.27%	0.16%
CAT	B	0.2%	0.25%	0.2%
CB	C	0.16%	0.34%	0.16%
CCI	C	0.07%	0.07%	0.07%
CCL	A	0.02%	0.45%	0.02%
CE	F	0.02%	0.23%	0.02%
CEG	C	0.11%	0.3%	0.11%
CFG	B	0.04%	0.38%	0.04%
CHTR	C	0.3%	0.3%	0.3%
CI	D	0.13%	0.16%	0.13%
CINF	A	0.02%	0.47%	0.02%
CL	D	0.35%	0.15%	0.15%
CLX	A	0.12%	0.09%	0.09%
CMCSA	B	0.16%	0.44%	0.16%
CMG	B	0.2%	0.09%	0.09%
CMI	A	0.14%	0.19%	0.14%
CMS	C	0.03%	0.25%	0.03%
CNC	D	0.04%	0.33%	0.04%
COF	C	0.29%	0.41%	0.29%
COIN	C	0.1%	0.15%	0.1%
COP	C	0.07%	0.46%	0.07%
COST	A	1.35%	0.35%	0.35%
CPAY	A	0.03%	0.2%	0.03%
CPB	D	0.04%	0.15%	0.04%
CPNG	D	0.04%	0.42%	0.04%
CRBG	B	0.04%	0.36%	0.04%
CSCO	B	0.68%	0.27%	0.27%
CSL	C	0.02%	0.17%	0.02%
CSX	C	0.11%	0.26%	0.11%
CTAS	B	0.19%	0.36%	0.19%
CTVA	C	0.04%	0.16%	0.04%
CVS	D	0.65%	0.38%	0.38%
CVX	A	0.39%	0.46%	0.39%
D	C	0.07%	0.25%	0.07%
DASH	B	0.11%	0.41%	0.11%
DD	C	0.1%	0.16%	0.1%
DECK	A	0.17%	0.19%	0.17%
DELL	B	0.03%	0.19%	0.03%
DG	F	0.09%	0.31%	0.09%
DGX	A	0.09%	0.35%	0.09%
DHI	F	0.06%	0.36%	0.06%
DOV	A	0.04%	0.09%	0.04%
DOW	F	0.02%	0.21%	0.02%
DRI	B	0.03%	0.17%	0.03%
DTE	C	0.02%	0.32%	0.02%
DUK	C	0.13%	0.33%	0.13%
EBAY	D	0.36%	0.32%	0.32%
ECL	D	0.08%	0.16%	0.08%
ED	C	0.05%	0.31%	0.05%
EFX	F	0.11%	0.21%	0.11%
EIX	B	0.05%	0.25%	0.05%
ELV	F	0.16%	0.2%	0.16%
EME	A	0.04%	0.49%	0.04%
EMR	B	0.09%	0.1%	0.09%
EQR	C	0.04%	0.25%	0.04%
ERIE	D	0.04%	0.32%	0.04%
ESS	B	0.04%	0.09%	0.04%
ETR	B	0.05%	0.38%	0.05%
EXC	C	0.07%	0.33%	0.07%
EXPD	C	0.11%	0.08%	0.08%
EXR	C	0.11%	0.15%	0.11%
F	C	0.16%	0.45%	0.16%
FANG	C	0.05%	0.45%	0.05%
FCNCA	A	0.06%	0.4%	0.06%
FE	C	0.03%	0.16%	0.03%
FI	A	0.19%	0.4%	0.19%
FICO	B	0.25%	0.5%	0.25%
FITB	B	0.04%	0.28%	0.04%
FNF	B	0.03%	0.17%	0.03%
FOXA	A	0.11%	0.45%	0.11%
FTNT	C	0.07%	0.3%	0.07%
GD	D	0.24%	0.16%	0.16%
GDDY	A	0.12%	0.4%	0.12%
GE	D	0.56%	0.32%	0.32%
GEHC	D	0.07%	0.07%	0.07%
GEN	B	0.11%	0.36%	0.11%
GIS	D	0.17%	0.22%	0.17%
GLPI	C	0.07%	0.08%	0.07%
GM	C	0.4%	0.53%	0.4%
GS	A	0.41%	0.5%	0.41%
GWW	B	0.21%	0.29%	0.21%
HBAN	A	0.03%	0.41%	0.03%
HCA	F	0.25%	0.35%	0.25%
HD	B	0.62%	0.09%	0.09%
HEI	A	0.04%	0.44%	0.04%
HIG	B	0.06%	0.34%	0.06%
HLT	A	0.1%	0.27%	0.1%
HOLX	D	0.03%	0.16%	0.03%
HOOD	B	0.04%	0.38%	0.04%
HPE	B	0.11%	0.44%	0.11%
HPQ	B	0.28%	0.09%	0.09%
HRL	D	0.02%	0.24%	0.02%
HSY	F	0.05%	0.15%	0.05%
HUBB	B	0.03%	0.18%	0.03%
HWM	A	0.17%	0.48%	0.17%
IBM	C	1.05%	0.32%	0.32%
ICE	C	0.29%	0.25%	0.25%
IEX	C	0.09%	0.18%	0.09%
INTC	C	0.2%	0.36%	0.2%
IP	A	0.09%	0.4%	0.09%
IR	B	0.09%	0.18%	0.09%
IRM	C	0.12%	0.41%	0.12%
ISRG	A	0.29%	0.27%	0.27%
IT	C	0.15%	0.17%	0.15%
JBHT	C	0.02%	0.27%	0.02%
JCI	B	0.07%	0.09%	0.07%
JNJ	C	1.18%	0.24%	0.24%
JPM	A	0.99%	0.3%	0.3%
KDP	F	0.07%	0.21%	0.07%
KEY	B	0.03%	0.19%	0.03%
KHC	F	0.15%	0.22%	0.15%
KIM	A	0.02%	0.18%	0.02%
KKR	A	0.15%	0.49%	0.15%
KLAC	F	0.23%	0.07%	0.07%
KMB	C	0.16%	0.08%	0.08%
KMI	A	0.11%	0.43%	0.11%
KO	D	1.0%	0.15%	0.15%
KR	B	0.38%	0.34%	0.34%
L	A	0.06%	0.36%	0.06%
LEN	D	0.06%	0.38%	0.06%
LHX	C	0.26%	0.17%	0.17%
LII	A	0.21%	0.35%	0.21%
LLY	F	2.39%	0.14%	0.14%
LMT	D	0.75%	0.08%	0.08%
LNT	A	0.02%	0.26%	0.02%
LOW	C	0.35%	0.08%	0.08%
LYB	F	0.15%	0.37%	0.15%
MA	B	0.28%	0.09%	0.09%
MAA	B	0.02%	0.17%	0.02%
MANH	D	0.03%	0.25%	0.03%
MAR	A	0.04%	0.1%	0.04%
MAS	D	0.06%	0.08%	0.06%
MCD	D	0.53%	0.08%	0.08%
MCO	B	0.15%	0.25%	0.15%
MDLZ	F	0.23%	0.15%	0.15%
MET	A	0.32%	0.09%	0.09%
META	D	2.35%	0.33%	0.33%
MKC	C	0.05%	0.08%	0.05%
MMC	B	0.2%	0.08%	0.08%
MO	A	0.73%	0.09%	0.09%
MPC	D	0.34%	0.42%	0.34%
MPWR	F	0.06%	0.11%	0.06%
MS	A	0.22%	0.33%	0.22%
MSCI	C	0.07%	0.09%	0.07%
MSI	B	0.2%	0.37%	0.2%
MTB	A	0.04%	0.41%	0.04%
MU	D	0.16%	0.08%	0.08%
NDAQ	A	0.05%	0.19%	0.05%
NDSN	B	0.04%	0.08%	0.04%
NEE	C	0.22%	0.31%	0.22%
NFLX	A	0.52%	0.3%	0.3%
NI	A	0.02%	0.36%	0.02%
NKE	F	0.06%	0.14%	0.06%
NOC	D	0.35%	0.08%	0.08%
NOW	A	0.36%	0.29%	0.29%
NRG	B	0.07%	0.43%	0.07%
NSC	B	0.07%	0.09%	0.07%
NTAP	C	0.1%	0.16%	0.1%
NTRS	A	0.03%	0.31%	0.03%
NUE	C	0.08%	0.41%	0.08%
NVDA	B	1.9%	0.29%	0.29%
NVR	D	0.09%	0.23%	0.09%
NWSA	A	0.04%	0.18%	0.04%
O	C	0.05%	0.15%	0.05%
OC	A	0.02%	0.47%	0.02%
ODFL	C	0.02%	0.09%	0.02%
OKE	A	0.1%	0.31%	0.1%
OMC	C	0.06%	0.16%	0.06%
ORCL	A	1.52%	0.37%	0.37%
ORLY	B	0.2%	0.09%	0.09%
OTIS	C	0.07%	0.08%	0.07%
PANW	B	0.25%	0.1%	0.1%
PAYX	B	0.04%	0.09%	0.04%
PEG	A	0.06%	0.25%	0.06%
PEP	F	0.74%	0.08%	0.08%
PFG	D	0.01%	0.17%	0.01%
PGR	A	0.59%	0.43%	0.43%
PH	A	0.14%	0.37%	0.14%
PHM	D	0.1%	0.38%	0.1%
PKG	A	0.1%	0.28%	0.1%
PLTR	B	0.23%	0.7%	0.23%
PM	B	0.87%	0.37%	0.37%
PNC	B	0.12%	0.19%	0.12%
POOL	C	0.07%	0.08%	0.07%
PPG	F	0.04%	0.24%	0.04%
PPL	A	0.04%	0.26%	0.04%
PRU	A	0.23%	0.18%	0.18%
PSA	C	0.09%	0.24%	0.09%
PSX	C	0.23%	0.42%	0.23%
PWR	A	0.12%	0.47%	0.12%
PYPL	B	0.12%	0.18%	0.12%
RCL	A	0.1%	0.55%	0.1%
RF	A	0.02%	0.29%	0.02%
RGA	A	0.06%	0.18%	0.06%
RMD	C	0.16%	0.33%	0.16%
ROL	B	0.07%	0.08%	0.07%
RPM	A	0.13%	0.1%	0.1%
RS	B	0.04%	0.45%	0.04%
RSG	A	0.13%	0.09%	0.09%
RVTY	F	0.01%	0.07%	0.01%
SBAC	D	0.03%	0.08%	0.03%
SBUX	A	0.09%	0.09%	0.09%
SHW	B	0.22%	0.25%	0.22%
SLB	C	0.01%	0.44%	0.01%
SO	C	0.13%	0.17%	0.13%
SPG	A	0.16%	0.18%	0.16%
SPGI	C	0.29%	0.25%	0.25%
SRE	A	0.08%	0.38%	0.08%
SSNC	B	0.02%	0.25%	0.02%
STLD	B	0.04%	0.47%	0.04%
SYF	B	0.31%	0.54%	0.31%
SYY	D	0.12%	0.16%	0.12%
T	A	0.73%	0.44%	0.44%
TDG	D	0.15%	0.22%	0.15%
TGT	F	0.74%	0.34%	0.34%
THC	D	0.28%	0.39%	0.28%
TJX	A	0.37%	0.26%	0.26%
TMO	F	0.28%	0.07%	0.07%
TMUS	B	0.43%	0.39%	0.39%
TOL	B	0.06%	0.42%	0.06%
TRGP	A	0.11%	0.46%	0.11%
TROW	B	0.09%	0.46%	0.09%
TRV	B	0.2%	0.28%	0.2%
TSCO	D	0.11%	0.16%	0.11%
TSN	B	0.18%	0.18%	0.18%
TYL	B	0.08%	0.26%	0.08%
UAL	A	0.02%	0.67%	0.02%
UBER	F	0.21%	0.16%	0.16%
ULTA	F	0.04%	0.31%	0.04%
UPS	C	0.24%	0.17%	0.17%
URI	C	0.09%	0.44%	0.09%
USB	A	0.11%	0.28%	0.11%
UTHR	C	0.19%	0.42%	0.19%
VLO	C	0.16%	0.45%	0.16%
VLTO	C	0.04%	0.23%	0.04%
VRTX	D	0.22%	0.08%	0.08%
VST	A	0.23%	0.52%	0.23%
VTR	B	0.04%	0.34%	0.04%
VTRS	A	0.14%	0.38%	0.14%
VZ	C	1.0%	0.32%	0.32%
WAB	B	0.05%	0.46%	0.05%
WAT	C	0.05%	0.08%	0.05%
WELL	A	0.12%	0.27%	0.12%
WFC	A	0.97%	0.44%	0.44%
WMB	A	0.1%	0.11%	0.1%
WRB	A	0.02%	0.18%	0.02%
WSM	C	0.18%	0.07%	0.07%
WSO	A	0.17%	0.18%	0.17%
WST	C	0.05%	0.09%	0.05%
XOM	B	0.43%	0.43%	0.43%
XYL	D	0.1%	0.15%	0.1%
ZTS	D	0.05%	0.08%	0.05%

MFUS Overweight 517 Positions Relative to FEX

Symbol	Grade	Weight
WMT	A	1.71%
ABBV	F	1.36%
PG	C	1.01%
GILD	C	0.87%
MRK	D	0.84%
UNH	B	0.79%
QCOM	F	0.77%
MCK	A	0.63%
MMM	D	0.6%
PFE	F	0.57%
AMAT	F	0.55%
UNP	C	0.51%
BMY	B	0.41%
REGN	F	0.36%
V	A	0.31%
TXN	C	0.29%
WM	B	0.28%
CAH	B	0.27%
SFM	A	0.25%
ANF	F	0.25%
DHR	F	0.24%
RTX	D	0.22%
GLW	B	0.2%
EA	A	0.18%
COR	B	0.17%
LRCX	F	0.17%
NEM	D	0.16%
DVA	C	0.16%
MUSA	B	0.16%
VRSK	A	0.16%
K	A	0.15%
CME	B	0.14%
CHRW	B	0.14%
BX	A	0.13%
DPZ	C	0.13%
EVR	B	0.13%
FAST	B	0.13%
JNPR	D	0.13%
YUM	D	0.13%
WBA	F	0.12%
CW	C	0.11%
CRS	B	0.11%
WTW	B	0.11%
ALSN	B	0.11%
BWXT	B	0.11%
LDOS	C	0.11%
ADP	A	0.11%
AYI	B	0.1%
JXN	C	0.1%
ITW	B	0.1%
JKHY	D	0.1%
DFS	B	0.1%
SEIC	B	0.09%
AIZ	A	0.09%
TFC	A	0.09%
CPRT	B	0.09%
TAP	C	0.09%
MLI	B	0.09%
WCC	B	0.09%
CALM	A	0.09%
LSTR	D	0.09%
DLR	B	0.09%
EHC	B	0.09%
CACI	D	0.09%
TMHC	C	0.09%
GPI	B	0.09%
HRB	D	0.08%
LPX	B	0.08%
WDC	D	0.08%
DKS	D	0.08%
AOS	F	0.08%
SLG	B	0.08%
GPK	C	0.08%
ABG	C	0.08%
ATR	B	0.08%
MTD	F	0.08%
HLI	A	0.08%
ITT	A	0.08%
EQH	C	0.08%
SCI	B	0.07%
LPLA	A	0.07%
UFPI	C	0.07%
EXP	B	0.07%
CHD	A	0.07%
BCC	B	0.07%
INGR	C	0.07%
MLM	C	0.07%
SKYW	C	0.07%
GEO	B	0.07%
CNX	A	0.07%
VNO	C	0.07%
THO	B	0.07%
R	B	0.07%
BALL	F	0.07%
AEO	F	0.07%
STE	D	0.07%
TTWO	A	0.07%
MNST	C	0.07%
FIS	C	0.07%
HCC	B	0.07%
STZ	D	0.06%
G	B	0.06%
VIRT	A	0.06%
BC	C	0.06%
TW	A	0.06%
GAP	C	0.06%
SEE	C	0.06%
ATGE	B	0.06%
TPH	D	0.06%
BFH	C	0.06%
LECO	C	0.06%
JLL	D	0.06%
GNRC	C	0.06%
CPT	B	0.06%
BERY	C	0.06%
KTB	B	0.06%
CHE	D	0.06%
CCK	D	0.06%
SLM	A	0.06%
UHS	D	0.06%
CMC	B	0.06%
MTH	D	0.06%
FIX	A	0.06%
IBKR	A	0.06%
LUMN	C	0.06%
WU	F	0.06%
SQ	A	0.06%
PK	C	0.06%
TXRH	B	0.06%
TTC	C	0.06%
FFIV	B	0.06%
AMG	B	0.06%
AN	C	0.06%
MSM	C	0.06%
ROP	B	0.06%
TDS	B	0.05%
NFG	A	0.05%
CNO	B	0.05%
PRIM	A	0.05%
FLEX	B	0.05%
THG	A	0.05%
AR	B	0.05%
NSIT	F	0.05%
LOPE	C	0.05%
URBN	C	0.05%
MOG.A	B	0.05%
SUI	C	0.05%
TGNA	B	0.05%
A	D	0.05%
GNTX	C	0.05%
MTN	C	0.05%
CBRE	B	0.05%
EXEL	B	0.05%
CRI	F	0.05%
USFD	A	0.05%
SLGN	A	0.05%
POST	C	0.05%
COOP	B	0.05%
SCHW	B	0.05%
TEX	F	0.05%
LAMR	C	0.05%
KD	B	0.05%
IDXX	F	0.05%
CBT	D	0.05%
GVA	A	0.05%
NXST	C	0.05%
ANSS	B	0.05%
HBI	B	0.05%
WEN	D	0.05%
FCN	F	0.05%
MMS	F	0.05%
SMCI	F	0.05%
BTU	B	0.05%
SON	F	0.04%
AVT	C	0.04%
OSK	C	0.04%
XPO	B	0.04%
LANC	C	0.04%
TKR	D	0.04%
AWI	A	0.04%
SEM	B	0.04%
AMH	C	0.04%
CRUS	D	0.04%
CXW	C	0.04%
INVH	D	0.04%
SMG	C	0.04%
JWN	D	0.04%
PSTG	D	0.04%
AGNC	C	0.04%
BDC	C	0.04%
SLVM	B	0.04%
CLH	C	0.04%
FLO	D	0.04%
ADBE	C	0.04%
WH	B	0.04%
ELS	C	0.04%
FL	F	0.04%
EMN	C	0.04%
OLN	F	0.04%
ARW	D	0.04%
RUSHA	C	0.04%
TRN	B	0.04%
SANM	B	0.04%
RGLD	C	0.04%
CVLT	B	0.04%
FDS	B	0.04%
NBIX	C	0.04%
VRSN	C	0.04%
BAX	F	0.04%
CUBE	C	0.04%
SJM	D	0.04%
WTM	A	0.04%
PTC	B	0.04%
OGN	F	0.04%
BHF	C	0.04%
ATI	C	0.04%
IPG	D	0.04%
MAC	B	0.04%
GBX	A	0.04%
HUBG	A	0.04%
FTI	A	0.04%
SIG	B	0.04%
MHO	D	0.04%
ZBRA	B	0.04%
GATX	A	0.04%
JHG	B	0.04%
CMA	B	0.04%
UNM	A	0.04%
AROC	A	0.04%
ABM	B	0.04%
DCI	B	0.04%
WERN	C	0.04%
COKE	C	0.03%
RRC	B	0.03%
HXL	F	0.03%
DLTR	F	0.03%
GMED	A	0.03%
DRH	B	0.03%
PNM	B	0.03%
ACA	A	0.03%
KMPR	A	0.03%
LZB	B	0.03%
WPC	C	0.03%
HAE	C	0.03%
UNF	B	0.03%
PINC	B	0.03%
APAM	B	0.03%
VC	F	0.03%
MAN	F	0.03%
DK	C	0.03%
JEF	A	0.03%
AMKR	D	0.03%
COLD	D	0.03%
LBRDK	C	0.03%
BKE	B	0.03%
FHI	B	0.03%
MRO	B	0.03%
LNC	C	0.03%
AVTR	F	0.03%
OMF	A	0.03%
RPRX	D	0.03%
X	B	0.03%
TER	F	0.03%
UDR	B	0.03%
PLXS	B	0.03%
CDW	F	0.03%
WHR	B	0.03%
CG	B	0.03%
OI	C	0.03%
PRG	C	0.03%
APLE	B	0.03%
IFF	D	0.03%
ASO	F	0.03%
SHOO	F	0.03%
JBL	C	0.03%
AVA	A	0.03%
DBRG	F	0.03%
LW	C	0.03%
HSIC	C	0.03%
COHR	B	0.03%
RL	C	0.03%
GMS	B	0.03%
BKU	A	0.03%
CDP	C	0.03%
RLI	A	0.03%
DDS	B	0.03%
GGG	B	0.03%
KBH	D	0.03%
GNW	A	0.03%
DOX	D	0.03%
SM	B	0.03%
IVZ	B	0.03%
MC	C	0.03%
MATX	C	0.03%
MASI	B	0.03%
ES	C	0.03%
TPX	B	0.03%
NYT	D	0.03%
BJ	A	0.03%
ACM	B	0.03%
MORN	B	0.03%
ODP	F	0.02%
IOSP	C	0.02%
LXP	D	0.02%
SAH	C	0.02%
KEX	B	0.02%
LEG	F	0.02%
TTMI	C	0.02%
VSH	F	0.02%
EVRG	A	0.02%
LAUR	A	0.02%
AA	A	0.02%
SF	B	0.02%
BHE	C	0.02%
BRKR	D	0.02%
GT	C	0.02%
GME	C	0.02%
WBS	A	0.02%
PHIN	A	0.02%
BEN	C	0.02%
WAL	B	0.02%
AXTA	B	0.02%
ANDE	D	0.02%
BXP	C	0.02%
ZION	B	0.02%
APG	B	0.02%
SNV	C	0.02%
NSP	F	0.02%
HP	C	0.02%
VFC	C	0.02%
HST	C	0.02%
DNOW	B	0.02%
LAD	A	0.02%
REZI	A	0.02%
PMT	C	0.02%
HNI	B	0.02%
XRAY	F	0.02%
WKC	C	0.02%
SNDR	B	0.02%
OSIS	A	0.02%
NAVI	F	0.02%
WMS	F	0.02%
LNW	F	0.02%
PNR	A	0.02%
EPC	F	0.02%
M	F	0.02%
AGCO	D	0.02%
KBR	F	0.02%
JBLU	F	0.02%
PFSI	C	0.02%
VVV	D	0.02%
THS	D	0.02%
RHI	C	0.02%
SKX	D	0.02%
CC	C	0.02%
DLB	B	0.02%
NWL	C	0.02%
OHI	C	0.02%
MDU	D	0.02%
SXT	C	0.02%
RLJ	C	0.02%
YELP	C	0.02%
DORM	B	0.02%
APOG	C	0.02%
GWRE	A	0.02%
SAM	C	0.02%
CTLT	C	0.02%
PSN	D	0.02%
XHR	B	0.02%
PDCO	F	0.02%
PBF	D	0.02%
MKTX	D	0.02%
EWBC	A	0.02%
NTCT	C	0.02%
VSCO	C	0.02%
MCY	A	0.02%
AIR	B	0.02%
HOG	D	0.02%
FAF	A	0.02%
SBH	C	0.02%
PAG	B	0.02%
HII	F	0.02%
BFAM	D	0.02%
VSTO	A	0.02%
KSS	F	0.02%
PVH	C	0.02%
RYN	D	0.02%
ADNT	F	0.02%
ORA	B	0.02%
MTG	C	0.02%
TFX	F	0.02%
GEF	A	0.02%
MSA	F	0.02%
NEU	D	0.02%
GHC	B	0.02%
STC	B	0.02%
SVC	F	0.01%
QRVO	F	0.01%
AAP	D	0.01%
CPRI	F	0.01%
NOV	C	0.01%
KNX	C	0.01%
RKT	F	0.01%
UHAL	D	0.01%
JELD	F	0.01%
DINO	D	0.01%
SCL	C	0.01%
MLKN	F	0.01%
IGT	F	0.01%
CACC	D	0.01%
PARA	C	0.01%
ARI	C	0.01%
WOR	F	0.01%
ELAN	D	0.01%
CNXN	C	0.01%
SPR	D	0.01%
CLF	F	0.01%
ACI	C	0.01%
GIII	D	0.01%
UGI	C	0.01%
ECPG	C	0.01%
ALEX	B	0.01%
UVV	B	0.01%
JBGS	F	0.01%
HTH	C	0.01%
SEB	F	0.01%
MKSI	C	0.01%
RDN	D	0.01%
IMKTA	C	0.01%
XRX	F	0.01%
SR	A	0.01%
ARMK	B	0.01%
OUT	A	0.01%
PNW	A	0.01%
SHO	D	0.01%
WGO	C	0.01%
AMED	F	0.01%
CNS	B	0.01%
SSB	B	0.01%
SWX	B	0.01%
KALU	C	0.01%
ESI	B	0.01%
CENTA	C	0.01%
CVI	F	0.01%
MOS	F	0.01%
ARCH	B	0.01%
PECO	A	0.01%
PB	B	0.01%
CNM	D	0.01%
SAIC	F	0.01%
OMI	F	0.01%
FDP	B	0.01%
SIGI	C	0.01%
LEA	F	0.01%
WAFD	B	0.01%
CROX	D	0.01%
BRC	D	0.01%
DY	D	0.01%
SPB	C	0.01%
PPC	C	0.01%
NNN	C	0.01%
AES	F	0.01%
CFR	B	0.01%
FELE	B	0.01%
DAN	D	0.01%
WMK	C	0.01%
MHK	D	0.01%
FLR	B	0.01%
KN	B	0.01%
STRA	C	0.01%
BBWI	C	0.01%
ESNT	F	0.01%
TPR	B	0.01%
DXC	B	0.01%
IDCC	B	0.01%
LADR	B	0.01%
INCY	C	0.01%
NNI	D	0.01%
GES	F	0.01%
ESAB	C	0.01%
CWEN	C	0.01%
ONB	C	0.01%
CBSH	B	0.01%
WWD	C	0.01%
TTEK	F	0.01%
MUR	D	0.01%
CR	A	0.01%
ICUI	D	0.01%
CSGS	B	0.01%
BMRN	F	0.01%
TNET	F	0.01%
FYBR	C	0.01%
HE	C	0.01%
CADE	B	0.01%
WTFC	A	0.01%
FHN	A	0.01%
PSMT	D	0.01%
ALGN	D	0.01%
ADC	A	0.01%
H	B	0.01%
SATS	D	0.01%
RBC	A	0.01%
UHAL	D	0.01%
BWA	D	0.01%
GOLF	B	0.01%
FR	D	0.01%
DTM	A	0.01%
DEI	B	0.01%
AMWD	C	0.01%
PTEN	C	0.01%
SCS	C	0.01%
VNT	C	0.01%
TDC	D	0.01%
SCCO	F	0.0%
NOMD	D	0.0%
WOLF	F	0.0%
HUN	F	0.0%

MFUS Underweight 75 Positions Relative to FEX

Symbol	Grade	Weight
AXON	A	-0.64%
DAL	B	-0.53%
EXPE	B	-0.52%
SNA	A	-0.52%
VRT	B	-0.52%
CVNA	B	-0.48%
PCAR	B	-0.48%
EOG	A	-0.47%
CTRA	B	-0.46%
TT	A	-0.45%
HAL	C	-0.44%
CF	A	-0.43%
OXY	D	-0.42%
DVN	F	-0.42%
CTSH	B	-0.42%
EQT	B	-0.41%
LYV	A	-0.41%
BG	D	-0.4%
TPL	A	-0.4%
EG	C	-0.4%
LNG	A	-0.4%
ON	D	-0.39%
RBLX	C	-0.39%
FDX	B	-0.37%
AEE	A	-0.36%
CNP	A	-0.36%
SWKS	F	-0.36%
XEL	A	-0.36%
ZBH	C	-0.35%
TXT	D	-0.32%
APTV	F	-0.31%
GRMN	B	-0.3%
ZM	C	-0.29%
ACGL	C	-0.29%
STT	B	-0.28%
LUV	C	-0.28%
FSLR	F	-0.27%
PCG	A	-0.27%
TDY	B	-0.27%
TTD	B	-0.27%
WEC	A	-0.26%
DE	B	-0.25%
GPC	D	-0.23%
RJF	A	-0.23%
HUM	C	-0.22%
TSLA	B	-0.22%
APO	B	-0.22%
STX	C	-0.22%
DIS	B	-0.2%
APD	A	-0.19%
MSTR	B	-0.19%
LH	B	-0.18%
J	D	-0.18%
ETN	A	-0.18%
LVS	B	-0.17%
WY	F	-0.16%
AWK	C	-0.16%
ROST	D	-0.16%
FTV	C	-0.16%
KEYS	A	-0.16%
MDT	D	-0.16%
ARE	F	-0.15%
DOC	C	-0.15%
WLK	D	-0.14%
MOH	F	-0.14%
CBOE	C	-0.09%
EQIX	A	-0.09%
ABT	B	-0.09%
GOOGL	C	-0.09%
SYK	B	-0.09%
MKL	A	-0.09%
RIVN	F	-0.08%
VICI	C	-0.08%
IQV	F	-0.07%
FCX	F	-0.07%