MFUS vs. FNDX ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Schwab Fundamental U.S. Large Company Index ETF (FNDX)

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

$51.69

Average Daily Volume

5,723

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

FNDX

Schwab Fundamental U.S. Large Company Index ETF

FNDX Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Large Company Index. The index selects, ranks, and weights securities by fundamental measures of company size - adjusted sales, retained operating cash flow, and dividends plus buybacks - rather than market capitalization. Under normal circumstances, the fund will invest at least 90% of its net assets in stocks included in the index. It may invest up to 10% of its net assets in securities not included in the index.

Grade (RS Rating)

Last Trade

$24.63

Average Daily Volume

1,125,321

Number of Holdings ^*

720

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	FNDX
30 Days	1.43%	2.37%
60 Days	5.39%	6.02%
90 Days	8.66%	9.26%
12 Months	36.24%	33.27%

558 Overlapping Holdings

	Symbol	Grade	Weight in MFUS	Weight in FNDX	Overlap
	A	F	0.05%	0.06%	0.05%
	AA	C	0.02%	0.06%	0.02%
	AAP	D	0.01%	0.03%	0.01%
	AAPL	D	0.96%	4.32%	0.96%
	ABBV	D	1.65%	0.58%	0.58%
	ABG	B	0.08%	0.03%	0.03%
	ABM	B	0.04%	0.02%	0.02%
	ACI	C	0.01%	0.03%	0.01%
	ACM	B	0.04%	0.05%	0.04%
	ACN	C	0.24%	0.35%	0.24%
	ADBE	C	0.04%	0.18%	0.04%
	ADM	F	0.24%	0.2%	0.2%
	ADNT	F	0.02%	0.02%	0.02%
	ADP	A	0.11%	0.15%	0.11%
	ADSK	B	0.09%	0.03%	0.03%
	AEO	F	0.08%	0.01%	0.01%
	AEP	D	0.08%	0.16%	0.08%
	AES	F	0.01%	0.05%	0.01%
	AFL	C	0.21%	0.2%	0.2%
	AGCO	F	0.02%	0.03%	0.02%
	AIG	C	0.36%	0.28%	0.28%
	AIZ	A	0.08%	0.03%	0.03%
	AJG	B	0.15%	0.05%	0.05%
	AKAM	F	0.03%	0.04%	0.03%
	ALGN	D	0.01%	0.02%	0.01%
	ALL	A	0.25%	0.26%	0.25%
	ALLY	C	0.05%	0.1%	0.05%
	ALSN	B	0.1%	0.05%	0.05%
	AMAT	F	0.55%	0.25%	0.25%
	AMG	C	0.06%	0.04%	0.04%
	AMGN	F	1.03%	0.42%	0.42%
	AMP	A	0.17%	0.14%	0.14%
	AMT	F	0.15%	0.11%	0.11%
	AMZN	B	1.64%	1.54%	1.54%
	AN	D	0.06%	0.05%	0.05%
	ANDE	D	0.02%	0.01%	0.01%
	ANET	C	0.15%	0.04%	0.04%
	ANSS	B	0.05%	0.02%	0.02%
	AON	A	0.25%	0.13%	0.13%
	AOS	F	0.09%	0.02%	0.02%
	APH	B	0.12%	0.09%	0.09%
	AR	B	0.04%	0.02%	0.02%
	ARCH	B	0.01%	0.02%	0.01%
	ARMK	C	0.01%	0.03%	0.01%
	ARW	F	0.04%	0.08%	0.04%
	ASO	F	0.03%	0.02%	0.02%
	ATO	A	0.02%	0.04%	0.02%
	ATR	A	0.08%	0.02%	0.02%
	AVB	B	0.03%	0.05%	0.03%
	AVGO	B	1.63%	0.66%	0.66%
	AVT	C	0.04%	0.08%	0.04%
	AVTR	F	0.03%	0.02%	0.02%
	AVY	F	0.1%	0.04%	0.04%
	AXP	B	0.22%	0.36%	0.22%
	AXTA	B	0.02%	0.02%	0.02%
	AYI	A	0.1%	0.04%	0.04%
	AZO	C	0.28%	0.06%	0.06%
	BAC	A	0.42%	1.26%	0.42%
	BAH	C	0.18%	0.04%	0.04%
	BALL	D	0.07%	0.06%	0.06%
	BAX	F	0.05%	0.07%	0.05%
	BBWI	C	0.01%	0.03%	0.01%
	BBY	D	0.22%	0.16%	0.16%
	BC	D	0.06%	0.03%	0.03%
	BCC	B	0.07%	0.04%	0.04%
	BDX	D	0.12%	0.11%	0.11%
	BEN	C	0.02%	0.04%	0.02%
	BERY	C	0.06%	0.04%	0.04%
	BFH	B	0.05%	0.06%	0.05%
	BIIB	F	0.07%	0.09%	0.07%
	BJ	B	0.04%	0.02%	0.02%
	BK	B	0.18%	0.26%	0.18%
	BKNG	A	0.41%	0.24%	0.24%
	BKR	B	0.07%	0.16%	0.07%
	BLD	F	0.03%	0.01%	0.01%
	BLDR	D	0.04%	0.06%	0.04%
	BMY	B	0.4%	0.42%	0.4%
	BR	A	0.16%	0.03%	0.03%
	BRK.A	C	2.36%	2.13%	2.13%
	BRO	A	0.12%	0.02%	0.02%
	BSX	A	0.2%	0.09%	0.09%
	BTU	C	0.06%	0.03%	0.03%
	BURL	C	0.03%	0.03%	0.03%
	BWA	B	0.01%	0.05%	0.01%
	BX	B	0.12%	0.12%	0.12%
	BXP	D	0.02%	0.05%	0.02%
	C	B	0.65%	1.1%	0.65%
	CACI	B	0.11%	0.04%	0.04%
	CAG	F	0.04%	0.06%	0.04%
	CAH	B	0.25%	0.07%	0.07%
	CARR	D	0.05%	0.12%	0.05%
	CASY	A	0.16%	0.05%	0.05%
	CAT	B	0.2%	0.43%	0.2%
	CB	D	0.16%	0.25%	0.16%
	CBRE	B	0.05%	0.13%	0.05%
	CC	D	0.02%	0.02%	0.02%
	CCI	F	0.07%	0.09%	0.07%
	CCK	B	0.06%	0.04%	0.04%
	CCL	A	0.02%	0.06%	0.02%
	CDW	F	0.03%	0.05%	0.03%
	CE	F	0.04%	0.04%	0.04%
	CEG	D	0.11%	0.11%	0.11%
	CFG	B	0.04%	0.1%	0.04%
	CG	B	0.03%	0.03%	0.03%
	CHD	B	0.07%	0.04%	0.04%
	CHE	D	0.06%	0.01%	0.01%
	CHRW	B	0.13%	0.07%	0.07%
	CHTR	B	0.3%	0.35%	0.3%
	CI	D	0.13%	0.47%	0.13%
	CINF	A	0.02%	0.07%	0.02%
	CL	F	0.37%	0.12%	0.12%
	CLF	D	0.01%	0.04%	0.01%
	CLX	B	0.13%	0.04%	0.04%
	CMA	B	0.04%	0.07%	0.04%
	CMC	B	0.06%	0.03%	0.03%
	CMCSA	B	0.16%	0.84%	0.16%
	CME	B	0.14%	0.08%	0.08%
	CMG	B	0.2%	0.04%	0.04%
	CMI	B	0.13%	0.18%	0.13%
	CMS	D	0.03%	0.06%	0.03%
	CNC	F	0.05%	0.2%	0.05%
	CNO	B	0.04%	0.04%	0.04%
	CNX	B	0.07%	0.01%	0.01%
	COF	B	0.27%	0.48%	0.27%
	COHR	B	0.03%	0.02%	0.02%
	COP	C	0.07%	0.48%	0.07%
	COR	A	0.17%	0.03%	0.03%
	COST	B	1.33%	0.65%	0.65%
	CPAY	A	0.03%	0.05%	0.03%
	CPB	F	0.05%	0.03%	0.03%
	CPRI	F	0.01%	0.02%	0.01%
	CPRT	B	0.08%	0.03%	0.03%
	CPT	C	0.06%	0.02%	0.02%
	CRBG	C	0.05%	0.04%	0.04%
	CRI	F	0.05%	0.01%	0.01%
	CSCO	A	0.65%	0.82%	0.65%
	CSL	C	0.02%	0.05%	0.02%
	CSX	B	0.11%	0.21%	0.11%
	CTAS	A	0.19%	0.08%	0.08%
	CTLT	C	0.02%	0.02%	0.02%
	CTVA	C	0.04%	0.09%	0.04%
	CVS	F	0.66%	0.7%	0.66%
	CVX	B	0.39%	1.21%	0.39%
	CW	B	0.11%	0.03%	0.03%
	D	D	0.07%	0.17%	0.07%
	DAN	F	0.01%	0.01%	0.01%
	DCI	A	0.04%	0.02%	0.02%
	DD	D	0.1%	0.18%	0.1%
	DECK	B	0.16%	0.03%	0.03%
	DELL	C	0.03%	0.03%	0.03%
	DFS	B	0.09%	0.26%	0.09%
	DG	F	0.1%	0.08%	0.08%
	DGX	A	0.09%	0.07%	0.07%
	DHI	D	0.07%	0.16%	0.07%
	DHR	F	0.26%	0.15%	0.15%
	DINO	D	0.01%	0.05%	0.01%
	DK	D	0.02%	0.01%	0.01%
	DKS	D	0.08%	0.04%	0.04%
	DLR	B	0.09%	0.08%	0.08%
	DLTR	F	0.03%	0.05%	0.03%
	DOV	A	0.02%	0.06%	0.02%
	DOW	F	0.02%	0.2%	0.02%
	DOX	A	0.04%	0.04%	0.04%
	DPZ	C	0.13%	0.03%	0.03%
	DRI	B	0.03%	0.05%	0.03%
	DTE	D	0.02%	0.07%	0.02%
	DUK	D	0.14%	0.3%	0.14%
	DVA	C	0.15%	0.05%	0.05%
	DXC	B	0.01%	0.05%	0.01%
	EA	A	0.17%	0.09%	0.09%
	EBAY	D	0.36%	0.17%	0.17%
	ECL	D	0.08%	0.08%	0.08%
	ED	D	0.06%	0.12%	0.06%
	EFX	D	0.11%	0.03%	0.03%
	EHC	B	0.09%	0.02%	0.02%
	EIX	D	0.05%	0.09%	0.05%
	ELV	F	0.16%	0.38%	0.16%
	EME	B	0.04%	0.06%	0.04%
	EMN	D	0.04%	0.08%	0.04%
	EMR	A	0.08%	0.17%	0.08%
	EQH	B	0.08%	0.05%	0.05%
	EQR	D	0.04%	0.05%	0.04%
	ES	F	0.04%	0.08%	0.04%
	ESS	C	0.04%	0.03%	0.03%
	ETR	B	0.05%	0.12%	0.05%
	EVR	B	0.12%	0.04%	0.04%
	EVRG	A	0.02%	0.07%	0.02%
	EWBC	A	0.02%	0.03%	0.02%
	EXC	D	0.07%	0.17%	0.07%
	EXP	B	0.07%	0.03%	0.03%
	EXPD	F	0.11%	0.04%	0.04%
	EXR	D	0.11%	0.03%	0.03%
	F	C	0.15%	0.33%	0.15%
	FAF	D	0.02%	0.04%	0.02%
	FANG	D	0.05%	0.05%	0.05%
	FAST	B	0.13%	0.08%	0.08%
	FCNCA	B	0.05%	0.02%	0.02%
	FE	D	0.03%	0.09%	0.03%
	FFIV	B	0.06%	0.03%	0.03%
	FHN	B	0.01%	0.03%	0.01%
	FI	A	0.18%	0.13%	0.13%
	FIS	C	0.08%	0.11%	0.08%
	FITB	A	0.04%	0.12%	0.04%
	FL	D	0.04%	0.03%	0.03%
	FLEX	B	0.04%	0.07%	0.04%
	FLO	F	0.04%	0.02%	0.02%
	FLR	C	0.01%	0.03%	0.01%
	FNF	C	0.03%	0.06%	0.03%
	FOXA	A	0.11%	0.09%	0.09%
	FTI	B	0.04%	0.01%	0.01%
	FTNT	A	0.06%	0.03%	0.03%
	FYBR	D	0.01%	0.04%	0.01%
	G	B	0.05%	0.03%	0.03%
	GAP	C	0.06%	0.04%	0.04%
	GD	A	0.25%	0.22%	0.22%
	GDDY	A	0.11%	0.03%	0.03%
	GE	C	0.56%	0.15%	0.15%
	GEHC	D	0.08%	0.1%	0.08%
	GEN	A	0.1%	0.04%	0.04%
	GGG	B	0.03%	0.02%	0.02%
	GILD	B	0.87%	0.39%	0.39%
	GIS	F	0.19%	0.11%	0.11%
	GLPI	D	0.07%	0.02%	0.02%
	GLW	B	0.21%	0.14%	0.14%
	GM	B	0.37%	0.76%	0.37%
	GNRC	B	0.05%	0.02%	0.02%
	GNTX	C	0.05%	0.03%	0.03%
	GNW	A	0.03%	0.03%	0.03%
	GPI	B	0.09%	0.05%	0.05%
	GPK	D	0.08%	0.03%	0.03%
	GS	B	0.36%	0.61%	0.36%
	GT	C	0.01%	0.04%	0.01%
	GWW	B	0.21%	0.08%	0.08%
	HBAN	A	0.03%	0.07%	0.03%
	HBI	B	0.05%	0.04%	0.04%
	HCA	D	0.27%	0.21%	0.21%
	HD	B	0.62%	0.78%	0.62%
	HIG	C	0.06%	0.14%	0.06%
	HII	D	0.02%	0.03%	0.02%
	HLT	A	0.09%	0.06%	0.06%
	HOG	F	0.02%	0.02%	0.02%
	HOLX	D	0.04%	0.04%	0.04%
	HPE	B	0.11%	0.21%	0.11%
	HPQ	B	0.29%	0.21%	0.21%
	HRB	D	0.08%	0.01%	0.01%
	HRL	F	0.02%	0.03%	0.02%
	HSIC	F	0.03%	0.04%	0.03%
	HST	C	0.02%	0.04%	0.02%
	HSY	D	0.06%	0.04%	0.04%
	HUBB	B	0.03%	0.04%	0.03%
	HUBG	B	0.04%	0.02%	0.02%
	HUN	F	0.0%	0.04%	0.0%
	HWM	B	0.15%	0.07%	0.07%
	IBM	D	1.07%	0.55%	0.55%
	ICE	D	0.29%	0.11%	0.11%
	IDXX	D	0.05%	0.02%	0.02%
	IEX	B	0.09%	0.03%	0.03%
	IFF	F	0.03%	0.05%	0.03%
	INGR	B	0.06%	0.05%	0.05%
	INTC	C	0.19%	0.93%	0.19%
	INVH	D	0.04%	0.03%	0.03%
	IP	B	0.09%	0.17%	0.09%
	IPG	F	0.04%	0.04%	0.04%
	IR	A	0.08%	0.03%	0.03%
	IRM	C	0.13%	0.06%	0.06%
	ISRG	A	0.28%	0.08%	0.08%
	IT	A	0.14%	0.03%	0.03%
	ITT	A	0.08%	0.03%	0.03%
	ITW	B	0.1%	0.15%	0.1%
	IVZ	C	0.03%	0.05%	0.03%
	JBHT	B	0.02%	0.05%	0.02%
	JBL	B	0.03%	0.07%	0.03%
	JCI	B	0.06%	0.16%	0.06%
	JEF	B	0.02%	0.05%	0.02%
	JHG	B	0.04%	0.03%	0.03%
	JKHY	C	0.11%	0.02%	0.02%
	JLL	C	0.06%	0.08%	0.06%
	JNJ	F	1.27%	0.92%	0.92%
	JNPR	C	0.14%	0.05%	0.05%
	JPM	B	0.93%	1.98%	0.93%
	JWN	B	0.04%	0.01%	0.01%
	JXN	B	0.1%	0.05%	0.05%
	K	A	0.15%	0.06%	0.06%
	KBH	D	0.03%	0.03%	0.03%
	KBR	B	0.02%	0.02%	0.02%
	KD	B	0.04%	0.05%	0.04%
	KDP	D	0.07%	0.07%	0.07%
	KEY	B	0.02%	0.1%	0.02%
	KHC	F	0.16%	0.1%	0.1%
	KIM	B	0.02%	0.03%	0.02%
	KKR	B	0.14%	0.12%	0.12%
	KLAC	F	0.24%	0.08%	0.08%
	KMB	F	0.17%	0.1%	0.1%
	KMI	A	0.1%	0.22%	0.1%
	KNX	B	0.01%	0.04%	0.01%
	KO	F	1.07%	0.36%	0.36%
	KR	A	0.37%	0.3%	0.3%
	KSS	F	0.02%	0.06%	0.02%
	L	B	0.06%	0.05%	0.05%
	LAD	B	0.02%	0.07%	0.02%
	LAMR	D	0.05%	0.02%	0.02%
	LDOS	A	0.13%	0.09%	0.09%
	LEA	F	0.01%	0.05%	0.01%
	LECO	B	0.06%	0.02%	0.02%
	LEG	F	0.02%	0.02%	0.02%
	LEN	D	0.07%	0.16%	0.07%
	LHX	B	0.27%	0.16%	0.16%
	LII	B	0.21%	0.03%	0.03%
	LLY	D	2.52%	0.2%	0.2%
	LMT	D	0.78%	0.37%	0.37%
	LNC	B	0.03%	0.05%	0.03%
	LNT	C	0.02%	0.04%	0.02%
	LOW	B	0.36%	0.42%	0.36%
	LPLA	A	0.06%	0.04%	0.04%
	LPX	A	0.07%	0.03%	0.03%
	LRCX	F	0.18%	0.16%	0.16%
	LSTR	B	0.09%	0.03%	0.03%
	LUMN	B	0.05%	0.68%	0.05%
	LW	C	0.03%	0.02%	0.02%
	LYB	F	0.16%	0.14%	0.14%
	M	D	0.02%	0.06%	0.02%
	MA	A	0.28%	0.28%	0.28%
	MAA	C	0.02%	0.03%	0.02%
	MAN	F	0.03%	0.05%	0.03%
	MAR	A	0.04%	0.09%	0.04%
	MAS	D	0.06%	0.05%	0.05%
	MATX	B	0.03%	0.02%	0.02%
	MCD	D	0.54%	0.33%	0.33%
	MCK	B	0.56%	0.11%	0.11%
	MCO	C	0.14%	0.07%	0.07%
	MDLZ	F	0.24%	0.2%	0.2%
	MDU	F	0.02%	0.01%	0.01%
	MET	C	0.32%	0.25%	0.25%
	META	B	2.36%	1.82%	1.82%
	MHK	D	0.01%	0.06%	0.01%
	MKC	D	0.06%	0.03%	0.03%
	MKSI	D	0.01%	0.02%	0.01%
	MLI	B	0.08%	0.04%	0.04%
	MLM	B	0.07%	0.05%	0.05%
	MMC	C	0.2%	0.14%	0.14%
	MMM	D	0.58%	0.35%	0.35%
	MMS	C	0.06%	0.01%	0.01%
	MNST	B	0.07%	0.05%	0.05%
	MO	A	0.73%	0.36%	0.36%
	MOS	D	0.01%	0.07%	0.01%
	MPC	D	0.32%	0.39%	0.32%
	MRK	F	0.89%	0.44%	0.44%
	MRO	B	0.03%	0.08%	0.03%
	MS	A	0.2%	0.45%	0.2%
	MSCI	B	0.07%	0.03%	0.03%
	MSI	B	0.19%	0.06%	0.06%
	MSM	B	0.06%	0.01%	0.01%
	MTB	B	0.04%	0.1%	0.04%
	MTD	F	0.09%	0.03%	0.03%
	MTG	D	0.02%	0.02%	0.02%
	MTH	D	0.06%	0.03%	0.03%
	MTN	D	0.05%	0.01%	0.01%
	MU	C	0.17%	0.43%	0.17%
	MUR	F	0.01%	0.02%	0.01%
	MUSA	B	0.15%	0.04%	0.04%
	NAVI	C	0.02%	0.02%	0.02%
	NDAQ	B	0.05%	0.03%	0.03%
	NDSN	B	0.04%	0.02%	0.02%
	NEE	D	0.24%	0.24%	0.24%
	NEM	F	0.18%	0.14%	0.14%
	NFG	C	0.05%	0.02%	0.02%
	NFLX	A	0.48%	0.16%	0.16%
	NI	A	0.02%	0.04%	0.02%
	NKE	F	0.06%	0.19%	0.06%
	NOC	C	0.37%	0.2%	0.2%
	NOV	D	0.01%	0.02%	0.01%
	NOW	A	0.34%	0.01%	0.01%
	NRG	B	0.07%	0.11%	0.07%
	NSC	B	0.07%	0.21%	0.07%
	NSIT	F	0.05%	0.02%	0.02%
	NTAP	C	0.1%	0.07%	0.07%
	NTRS	A	0.03%	0.08%	0.03%
	NUE	C	0.08%	0.21%	0.08%
	NVDA	A	1.82%	0.41%	0.41%
	NVR	D	0.1%	0.08%	0.08%
	NWL	B	0.02%	0.03%	0.02%
	NWSA	B	0.04%	0.04%	0.04%
	NXST	C	0.06%	0.04%	0.04%
	O	D	0.06%	0.04%	0.04%
	OC	B	0.02%	0.06%	0.02%
	ODFL	B	0.02%	0.06%	0.02%
	ODP	F	0.02%	0.02%	0.02%
	OGN	F	0.05%	0.05%	0.05%
	OI	D	0.03%	0.02%	0.02%
	OKE	A	0.09%	0.13%	0.09%
	OLN	D	0.04%	0.03%	0.03%
	OMC	B	0.06%	0.08%	0.06%
	OMF	B	0.03%	0.06%	0.03%
	ORCL	A	1.42%	0.5%	0.5%
	ORLY	A	0.2%	0.1%	0.1%
	OSK	B	0.03%	0.04%	0.03%
	OTIS	D	0.08%	0.05%	0.05%
	PAG	C	0.02%	0.02%	0.02%
	PANW	A	0.23%	0.03%	0.03%
	PARA	C	0.01%	0.11%	0.01%
	PAYX	B	0.04%	0.06%	0.04%
	PBF	F	0.02%	0.03%	0.02%
	PEG	D	0.06%	0.1%	0.06%
	PEP	F	0.76%	0.41%	0.41%
	PFE	F	0.62%	0.71%	0.62%
	PFG	C	0.01%	0.09%	0.01%
	PG	D	1.03%	0.75%	0.75%
	PGR	B	0.57%	0.23%	0.23%
	PH	B	0.14%	0.12%	0.12%
	PHM	D	0.1%	0.11%	0.1%
	PK	B	0.06%	0.02%	0.02%
	PKG	B	0.1%	0.07%	0.07%
	PM	C	0.92%	0.46%	0.46%
	PNC	A	0.11%	0.3%	0.11%
	PNR	B	0.02%	0.04%	0.02%
	PNW	B	0.01%	0.04%	0.01%
	POOL	D	0.07%	0.02%	0.02%
	POST	D	0.05%	0.02%	0.02%
	PPG	F	0.05%	0.08%	0.05%
	PPL	A	0.04%	0.11%	0.04%
	PRU	B	0.23%	0.22%	0.22%
	PSA	D	0.1%	0.05%	0.05%
	PSX	D	0.22%	0.35%	0.22%
	PVH	C	0.02%	0.04%	0.02%
	PWR	B	0.12%	0.07%	0.07%
	PYPL	B	0.12%	0.21%	0.12%
	QCOM	F	0.8%	0.45%	0.45%
	QRVO	F	0.01%	0.03%	0.01%
	R	B	0.07%	0.07%	0.07%
	REGN	F	0.4%	0.1%	0.1%
	REZI	A	0.02%	0.02%	0.02%
	RF	A	0.02%	0.08%	0.02%
	RGA	A	0.06%	0.04%	0.04%
	RHI	B	0.02%	0.04%	0.02%
	RL	B	0.03%	0.03%	0.03%
	RMD	B	0.17%	0.04%	0.04%
	ROP	B	0.06%	0.05%	0.05%
	RPM	B	0.13%	0.04%	0.04%
	RS	B	0.04%	0.09%	0.04%
	RSG	A	0.13%	0.06%	0.06%
	RTX	C	0.22%	0.34%	0.22%
	RUSHA	B	0.04%	0.02%	0.02%
	RVTY	C	0.01%	0.03%	0.01%
	SAIC	B	0.01%	0.03%	0.01%
	SANM	B	0.04%	0.04%	0.04%
	SBAC	D	0.03%	0.02%	0.02%
	SBUX	B	0.1%	0.27%	0.1%
	SCHW	A	0.05%	0.11%	0.05%
	SCI	B	0.07%	0.03%	0.03%
	SEE	C	0.06%	0.03%	0.03%
	SEIC	A	0.08%	0.03%	0.03%
	SFM	B	0.24%	0.05%	0.05%
	SHW	B	0.22%	0.08%	0.08%
	SJM	F	0.04%	0.06%	0.04%
	SKX	F	0.02%	0.02%	0.02%
	SLB	D	0.01%	0.12%	0.01%
	SLG	C	0.08%	0.02%	0.02%
	SLM	B	0.05%	0.04%	0.04%
	SM	C	0.03%	0.02%	0.02%
	SNV	B	0.02%	0.03%	0.02%
	SO	D	0.13%	0.26%	0.13%
	SON	F	0.04%	0.03%	0.03%
	SPG	B	0.16%	0.1%	0.1%
	SPGI	D	0.29%	0.14%	0.14%
	SQ	A	0.05%	0.02%	0.02%
	SRE	A	0.07%	0.13%	0.07%
	SSNC	C	0.02%	0.04%	0.02%
	STE	F	0.08%	0.03%	0.03%
	STLD	B	0.04%	0.12%	0.04%
	STZ	D	0.06%	0.07%	0.06%
	SUI	F	0.05%	0.02%	0.02%
	SYF	B	0.27%	0.33%	0.27%
	SYY	B	0.13%	0.1%	0.1%
	T	C	0.74%	1.25%	0.74%
	TAP	B	0.08%	0.05%	0.05%
	TDG	B	0.15%	0.07%	0.07%
	TDS	B	0.04%	0.05%	0.04%
	TER	D	0.03%	0.04%	0.03%
	TFC	A	0.08%	0.23%	0.08%
	TFX	F	0.03%	0.02%	0.02%
	TGNA	B	0.04%	0.03%	0.03%
	TGT	C	0.75%	0.37%	0.37%
	THC	B	0.28%	0.07%	0.07%
	THG	A	0.04%	0.02%	0.02%
	THO	B	0.07%	0.04%	0.04%
	TJX	B	0.36%	0.22%	0.22%
	TKR	F	0.04%	0.02%	0.02%
	TMHC	C	0.09%	0.04%	0.04%
	TMO	F	0.3%	0.26%	0.26%
	TMUS	A	0.42%	0.25%	0.25%
	TOL	B	0.06%	0.06%	0.06%
	TPH	D	0.06%	0.03%	0.03%
	TPR	B	0.01%	0.05%	0.01%
	TPX	C	0.03%	0.02%	0.02%
	TRGP	A	0.1%	0.07%	0.07%
	TROW	B	0.09%	0.13%	0.09%
	TRV	B	0.2%	0.3%	0.2%
	TSCO	D	0.11%	0.06%	0.06%
	TSN	C	0.17%	0.18%	0.17%
	TTC	D	0.06%	0.02%	0.02%
	TTWO	A	0.07%	0.03%	0.03%
	TXN	B	0.3%	0.36%	0.3%
	UBER	F	0.22%	0.04%	0.04%
	UDR	D	0.03%	0.02%	0.02%
	UFPI	B	0.06%	0.04%	0.04%
	UGI	D	0.01%	0.05%	0.01%
	UHAL	C	0.02%	0.02%	0.02%
	UHAL	C	0.01%	0.02%	0.01%
	UHS	D	0.06%	0.08%	0.06%
	ULTA	C	0.04%	0.03%	0.03%
	UNH	B	0.77%	1.24%	0.77%
	UNM	A	0.04%	0.06%	0.04%
	UNP	D	0.51%	0.36%	0.36%
	UPS	D	0.25%	0.29%	0.25%
	URI	B	0.09%	0.13%	0.09%
	USB	B	0.1%	0.31%	0.1%
	USFD	A	0.05%	0.08%	0.05%
	V	A	0.3%	0.36%	0.3%
	VFC	C	0.02%	0.07%	0.02%
	VLO	D	0.16%	0.37%	0.16%
	VNO	C	0.07%	0.05%	0.05%
	VRSK	A	0.16%	0.04%	0.04%
	VRSN	C	0.04%	0.01%	0.01%
	VRTX	B	0.23%	0.08%	0.08%
	VSH	F	0.02%	0.01%	0.01%
	VST	B	0.2%	0.15%	0.15%
	VTR	C	0.04%	0.08%	0.04%
	VTRS	B	0.13%	0.1%	0.1%
	VZ	D	1.03%	1.12%	1.03%
	WAB	B	0.05%	0.06%	0.05%
	WAT	B	0.06%	0.04%	0.04%
	WBA	D	0.13%	0.18%	0.13%
	WCC	B	0.08%	0.04%	0.04%
	WDC	D	0.08%	0.13%	0.08%
	WELL	B	0.12%	0.1%	0.1%
	WERN	B	0.02%	0.02%	0.02%
	WFC	B	0.87%	1.29%	0.87%
	WHR	B	0.03%	0.07%	0.03%
	WKC	D	0.02%	0.08%	0.02%
	WM	A	0.28%	0.15%	0.15%
	WMB	A	0.1%	0.17%	0.1%
	WMT	A	1.72%	1.45%	1.45%
	WPC	F	0.03%	0.02%	0.02%
	WRB	B	0.02%	0.03%	0.02%
	WSM	F	0.19%	0.04%	0.04%
	WSO	A	0.16%	0.03%	0.03%
	WST	C	0.05%	0.02%	0.02%
	WTW	A	0.11%	0.07%	0.07%
	WU	F	0.06%	0.03%	0.03%
	X	B	0.03%	0.08%	0.03%
	XOM	B	0.44%	1.99%	0.44%
	XRAY	F	0.03%	0.01%	0.01%
	XRX	F	0.01%	0.02%	0.01%
	XYL	D	0.11%	0.03%	0.03%
	YUM	B	0.14%	0.08%	0.08%
	ZBRA	A	0.04%	0.04%	0.04%
	ZION	B	0.02%	0.06%	0.02%
	ZTS	F	0.05%	0.07%	0.05%

MFUS Overweight 257 Positions Relative to FNDX

	Symbol	Grade	Weight
	ANF	D	0.25%
	FICO	A	0.22%
	UTHR	B	0.19%
	PLTR	B	0.16%
	BWXT	A	0.11%
	CRS	B	0.1%
	DASH	A	0.1%
	ARES	B	0.09%
	CALM	A	0.09%
	RCL	A	0.09%
	HCC	C	0.08%
	HLI	B	0.08%
	MPWR	F	0.08%
	SMCI	F	0.08%
	TYL	B	0.08%
	COIN	B	0.07%
	ALNY	D	0.07%
	ATGE	B	0.06%
	FCN	D	0.06%
	KTB	B	0.06%
	TW	B	0.06%
	WEN	C	0.06%
	TXRH	B	0.06%
	APP	A	0.06%
	ROL	B	0.06%
	SKYW	B	0.06%
	URBN	C	0.05%
	ERIE	F	0.05%
	SMG	C	0.05%
	COOP	B	0.05%
	GVA	B	0.05%
	EXEL	B	0.05%
	SLGN	A	0.05%
	TEX	C	0.05%
	VIRT	B	0.05%
	CBT	B	0.05%
	IBKR	A	0.05%
	FIX	B	0.05%
	AMH	D	0.04%
	TRN	A	0.04%
	CDP	C	0.04%
	WH	A	0.04%
	SEM	B	0.04%
	CLH	B	0.04%
	BDC	B	0.04%
	LANC	B	0.04%
	ELS	C	0.04%
	AGNC	D	0.04%
	CVLT	B	0.04%
	PSTG	D	0.04%
	PRIM	B	0.04%
	FDS	A	0.04%
	WTM	A	0.04%
	GBX	A	0.04%
	SLVM	C	0.04%
	HEI	C	0.04%
	BHF	B	0.04%
	AROC	B	0.04%
	GEO	B	0.04%
	ATI	D	0.04%
	LOPE	B	0.04%
	NBIX	C	0.04%
	CPNG	C	0.04%
	GATX	B	0.04%
	SIG	B	0.04%
	CRUS	F	0.04%
	PTC	B	0.04%
	MAC	B	0.04%
	CUBE	D	0.04%
	RGLD	C	0.04%
	VLTO	D	0.04%
	SRCL	B	0.04%
	MHO	D	0.04%
	MOG.A	B	0.04%
	UNF	B	0.03%
	DRH	B	0.03%
	HXL	D	0.03%
	ORA	C	0.03%
	BKE	A	0.03%
	RYN	F	0.03%
	APAM	B	0.03%
	VC	D	0.03%
	FHI	A	0.03%
	BKU	B	0.03%
	AMKR	F	0.03%
	PRG	C	0.03%
	PLXS	B	0.03%
	DDS	C	0.03%
	APLE	B	0.03%
	LBRDK	B	0.03%
	MC	B	0.03%
	BFAM	F	0.03%
	RLI	A	0.03%
	GMS	B	0.03%
	AVA	C	0.03%
	RPRX	F	0.03%
	MASI	B	0.03%
	DBRG	F	0.03%
	SHOO	D	0.03%
	XPO	B	0.03%
	HOOD	B	0.03%
	NYT	C	0.03%
	MANH	C	0.03%
	MORN	A	0.03%
	COLD	F	0.03%
	AWI	A	0.03%
	PHIN	B	0.02%
	HE	F	0.02%
	TTMI	A	0.02%
	DNOW	B	0.02%
	LAUR	B	0.02%
	WAL	B	0.02%
	LXP	D	0.02%
	BHE	B	0.02%
	SATS	C	0.02%
	JBLU	D	0.02%
	TTEK	C	0.02%
	OSIS	C	0.02%
	TDC	D	0.02%
	HNI	B	0.02%
	APG	B	0.02%
	HP	C	0.02%
	SNDR	A	0.02%
	NSP	F	0.02%
	BRKR	F	0.02%
	PMT	F	0.02%
	VVV	B	0.02%
	RLJ	C	0.02%
	EPC	F	0.02%
	LNW	C	0.02%
	APOG	B	0.02%
	PFSI	D	0.02%
	SAM	B	0.02%
	YELP	C	0.02%
	AIR	C	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	C	0.02%
	OHI	B	0.02%
	DORM	B	0.02%
	HAE	B	0.02%
	SBH	C	0.02%
	GHC	B	0.02%
	CXW	B	0.02%
	GEF	A	0.02%
	WMS	F	0.02%
	RRC	B	0.02%
	KMPR	A	0.02%
	THS	F	0.02%
	MSA	D	0.02%
	STC	C	0.02%
	VSTO	A	0.02%
	GMED	B	0.02%
	COKE	D	0.02%
	PDCO	D	0.02%
	LZB	C	0.02%
	PINC	B	0.02%
	NEU	C	0.02%
	PSN	A	0.02%
	PNM	B	0.02%
	ACA	B	0.02%
	MKTX	C	0.02%
	SVC	F	0.01%
	SCL	C	0.01%
	RKT	D	0.01%
	ELAN	D	0.01%
	MLKN	D	0.01%
	CACC	F	0.01%
	IMKTA	C	0.01%
	CNXN	C	0.01%
	WOR	D	0.01%
	ECPG	B	0.01%
	ARI	D	0.01%
	IGT	D	0.01%
	RDN	C	0.01%
	HTH	B	0.01%
	GIII	C	0.01%
	UVV	B	0.01%
	SR	C	0.01%
	WGO	B	0.01%
	SSB	B	0.01%
	CVI	F	0.01%
	ALEX	B	0.01%
	SEB	F	0.01%
	OUT	C	0.01%
	PB	A	0.01%
	SWX	B	0.01%
	KALU	B	0.01%
	CNS	B	0.01%
	CENTA	C	0.01%
	ESI	B	0.01%
	SHO	B	0.01%
	SPR	F	0.01%
	WAFD	B	0.01%
	JELD	F	0.01%
	JBGS	F	0.01%
	SIGI	B	0.01%
	PECO	B	0.01%
	AMED	F	0.01%
	WMK	B	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%
	FELE	B	0.01%
	SPB	A	0.01%
	CNM	D	0.01%
	KN	B	0.01%
	ONB	A	0.01%
	PPC	B	0.01%
	CBSH	A	0.01%
	IDCC	A	0.01%
	TNET	D	0.01%
	CROX	F	0.01%
	CSGS	B	0.01%
	WTFC	A	0.01%
	CADE	B	0.01%
	NNN	F	0.01%
	ESNT	D	0.01%
	LADR	B	0.01%
	INCY	B	0.01%
	CR	B	0.01%
	WWD	B	0.01%
	H	C	0.01%
	ESAB	B	0.01%
	RBC	B	0.01%
	DTM	A	0.01%
	GOLF	B	0.01%
	GES	F	0.01%
	IOSP	B	0.01%
	GME	C	0.01%
	PTEN	D	0.01%
	UAL	A	0.01%
	SCS	C	0.01%
	NNI	C	0.01%
	SAH	B	0.01%
	PSMT	D	0.01%
	KEX	A	0.01%
	AMWD	B	0.01%
	ICUI	C	0.01%
	ADC	B	0.01%
	CWEN	D	0.01%
	BMRN	F	0.01%
	VNT	B	0.01%
	WBS	B	0.01%
	DEI	C	0.01%
	SF	A	0.01%
	FR	D	0.01%
	SCCO	D	0.0%
	NOMD	F	0.0%
	WOLF	F	0.0%

MFUS Underweight 163 Positions Relative to FNDX

	Symbol	Grade	Weight
	MSFT	C	-2.41%
	GOOGL	B	-1.36%
	GOOG	B	-1.17%
	DIS	C	-0.41%
	HON	B	-0.35%
	ABT	B	-0.34%
	LIN	D	-0.34%
	FDX	B	-0.3%
	TSLA	B	-0.26%
	DE	D	-0.24%
	ETN	A	-0.23%
	EOG	B	-0.22%
	CTSH	A	-0.19%
	HUM	F	-0.19%
	MDT	D	-0.17%
	PCAR	B	-0.15%
	FCX	F	-0.15%
	ADI	D	-0.14%
	CRM	B	-0.14%
	XEL	A	-0.12%
	BA	F	-0.12%
	SYK	A	-0.12%
	APD	B	-0.12%
	INTU	A	-0.11%
	OXY	F	-0.11%
	AMD	F	-0.1%
	STT	B	-0.1%
	BG	D	-0.1%
	DVN	F	-0.09%
	SW	C	-0.09%
	LH	B	-0.09%
	WY	F	-0.09%
	STX	D	-0.09%
	WBD	C	-0.08%
	WEC	B	-0.08%
	GPN	B	-0.08%
	EQIX	C	-0.08%
	CF	B	-0.07%
	AEE	A	-0.07%
	IQV	F	-0.07%
	PLD	F	-0.07%
	SWK	F	-0.07%
	ROST	F	-0.07%
	ROK	B	-0.06%
	MGM	F	-0.06%
	LNG	B	-0.06%
	TXT	D	-0.06%
	TT	A	-0.06%
	CNP	B	-0.06%
	PFGC	B	-0.06%
	HAL	D	-0.06%
	KMX	C	-0.06%
	MKL	A	-0.05%
	GEV	B	-0.05%
	MRVL	B	-0.05%
	ORI	A	-0.05%
	ZBH	C	-0.05%
	VMC	B	-0.05%
	GPC	D	-0.05%
	MOH	F	-0.05%
	NXPI	F	-0.05%
	OVV	C	-0.05%
	AME	A	-0.05%
	RJF	A	-0.05%
	KVUE	A	-0.05%
	LKQ	D	-0.05%
	J	B	-0.05%
	SNA	A	-0.05%
	MCHP	F	-0.05%
	HES	C	-0.05%
	DOC	C	-0.04%
	ZIM	B	-0.04%
	FBIN	F	-0.04%
	LVS	C	-0.04%
	KEYS	B	-0.04%
	EW	F	-0.04%
	ON	D	-0.04%
	AWK	D	-0.04%
	EQT	A	-0.04%
	SWKS	F	-0.04%
	AFG	B	-0.04%
	ACGL	D	-0.03%
	TDY	A	-0.03%
	CAR	C	-0.03%
	PCG	A	-0.03%
	APO	B	-0.03%
	SOLV	C	-0.03%
	ALB	C	-0.03%
	DAL	A	-0.03%
	FMC	F	-0.03%
	TRU	D	-0.03%
	VOYA	A	-0.03%
	ILMN	C	-0.03%
	AMCR	D	-0.03%
	SNX	C	-0.03%
	ARE	F	-0.03%
	APA	F	-0.03%
	OGE	B	-0.03%
	HAS	D	-0.03%
	CTRA	C	-0.03%
	RRX	C	-0.03%
	CIEN	B	-0.03%
	GRMN	A	-0.03%
	FTV	D	-0.03%
	TRMB	B	-0.03%
	MRNA	F	-0.03%
	SNPS	B	-0.03%
	CDNS	B	-0.03%
	EL	F	-0.03%
	GL	B	-0.03%
	EXPE	B	-0.03%
	MTZ	B	-0.03%
	ALK	A	-0.02%
	EG	D	-0.02%
	WLK	F	-0.02%
	ALV	C	-0.02%
	BPOP	C	-0.02%
	CHKP	D	-0.02%
	MPW	F	-0.02%
	MIDD	C	-0.02%
	AER	C	-0.02%
	POR	D	-0.02%
	VAC	B	-0.02%
	AL	B	-0.02%
	CCEP	D	-0.02%
	EPAM	C	-0.02%
	STWD	D	-0.02%
	ST	F	-0.02%
	PENN	B	-0.02%
	CZR	D	-0.02%
	ASGN	B	-0.02%
	PII	F	-0.02%
	GXO	B	-0.02%
	APTV	F	-0.02%
	BECN	B	-0.02%
	BRX	B	-0.02%
	VICI	D	-0.02%
	REG	B	-0.02%
	NVT	B	-0.02%
	DAR	B	-0.02%
	LUV	B	-0.02%
	BAP	B	-0.02%
	CNH	D	-0.02%
	PRI	A	-0.02%
	DBX	B	-0.01%
	CRL	C	-0.01%
	CNXC	F	-0.01%
	WTRG	B	-0.01%
	ICLR	F	-0.01%
	LILAK	F	-0.01%
	JAZZ	B	-0.01%
	SPTN	F	-0.01%
	CYH	D	-0.01%
	CBOE	D	-0.01%
	FSLR	F	-0.01%
	HTZ	D	-0.01%
	TNL	A	-0.01%
	PRGO	C	-0.01%
	AAL	B	-0.01%
	ALLE	D	-0.01%
	QRTEA	F	-0.01%
	LULU	C	-0.01%
	UNFI	B	-0.01%

MFUS: Top Represented Industries & Keywords

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

Keywords: S&P 500 Nasdaq 100 Natural Gas Insurance Chemical Real Estate Investment Trust Aerospace Banking Bank Computing Mining Electricity Electronics Telecommunications Transport Beverage Clothing Dow Jones Component Retail Store Retailing

FNDX: Top Represented Industries & Keywords

Industries: Diversified Industrials Utilities - Regulated Electric Asset Management Business Services Oil & Gas E&P Specialty Retail Banks - Regional - US Software - Application Information Technology Services Semiconductors Diagnostics & Research Specialty Chemicals Credit Services Packaged Foods Packaging & Containers Building Materials Insurance - Property & Casualty Auto Parts Capital Markets Drug Manufacturers - Major

Keywords: S&P 500 Nasdaq 100 Natural Gas Insurance Computing Electricity Chemical Mining Aerospace Electronics Bank Dow Jones Component Banking Real Estate Investment Trust Telecommunications Semiconductor Transport Insurance Products Medicine Beverage