MFUS vs. FNX ETF Comparison

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

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

$50.02

Average Daily Volume

7,387

Number of Holdings ^*

780

* may have additional holdings in another (foreign) market

FNX

First Trust Mid Cap Core AlphaDEX

FNX 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 Mid 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 MidCap 400(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

$116.84

Average Daily Volume

26,331

Number of Holdings ^*

439

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	FNX
30 Days	1.34%	1.76%
60 Days	3.43%	2.63%
90 Days	4.18%	6.95%
12 Months	26.76%	24.00%

243 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in FNX	Overlap
AAP	F	0.01%	0.09%	0.01%
ABG	F	0.07%	0.34%	0.07%
ACA	C	0.03%	0.15%	0.03%
AEO	D	0.09%	0.28%	0.09%
AES	C	0.03%	0.07%	0.03%
AFG	B	0.01%	0.16%	0.01%
AGCO	D	0.02%	0.33%	0.02%
AGNC	A	0.04%	0.23%	0.04%
AIT	C	0.02%	0.3%	0.02%
AIZ	B	0.07%	0.25%	0.07%
ALLY	F	0.1%	0.24%	0.1%
ALSN	B	0.08%	0.33%	0.08%
AMG	C	0.05%	0.39%	0.05%
AMKR	F	0.03%	0.16%	0.03%
AN	D	0.08%	0.29%	0.08%
ANF	D	0.26%	0.28%	0.26%
AOS	C	0.11%	0.07%	0.07%
APG	D	0.03%	0.26%	0.03%
APP	B	0.03%	0.46%	0.03%
AR	D	0.04%	0.12%	0.04%
ARW	C	0.07%	0.29%	0.07%
ASO	C	0.03%	0.38%	0.03%
ATI	C	0.05%	0.32%	0.05%
ATR	B	0.07%	0.23%	0.07%
AVT	D	0.04%	0.28%	0.04%
AWI	B	0.03%	0.24%	0.03%
AXTA	C	0.02%	0.22%	0.02%
AYI	B	0.07%	0.23%	0.07%
BBWI	F	0.02%	0.1%	0.02%
BC	C	0.06%	0.3%	0.06%
BCC	C	0.06%	0.4%	0.06%
BECN	D	0.01%	0.19%	0.01%
BERY	B	0.06%	0.32%	0.06%
BFAM	C	0.03%	0.28%	0.03%
BJ	D	0.03%	0.07%	0.03%
BLD	D	0.03%	0.14%	0.03%
BTU	D	0.04%	0.35%	0.04%
BWA	D	0.05%	0.29%	0.05%
BWXT	D	0.08%	0.22%	0.08%
CACC	D	0.01%	0.14%	0.01%
CACI	B	0.09%	0.16%	0.09%
CADE	B	0.01%	0.31%	0.01%
CASY	D	0.15%	0.36%	0.15%
CBSH	C	0.01%	0.08%	0.01%
CBT	B	0.05%	0.24%	0.05%
CCK	A	0.07%	0.09%	0.07%
CHDN	C	0.02%	0.22%	0.02%
CHRD	F	0.02%	0.29%	0.02%
CLH	B	0.04%	0.31%	0.04%
CMA	B	0.04%	0.24%	0.04%
CMC	D	0.07%	0.33%	0.07%
CNM	F	0.01%	0.12%	0.01%
COKE	C	0.03%	0.42%	0.03%
COOP	B	0.04%	0.32%	0.04%
CPT	B	0.06%	0.16%	0.06%
CR	C	0.01%	0.07%	0.01%
CRUS	D	0.05%	0.15%	0.05%
CUBE	B	0.04%	0.09%	0.04%
CVI	F	0.01%	0.29%	0.01%
CVLT	B	0.03%	0.35%	0.03%
CW	B	0.08%	0.32%	0.08%
DCI	D	0.04%	0.14%	0.04%
DDS	D	0.03%	0.22%	0.03%
DINO	D	0.03%	0.3%	0.03%
DKS	D	0.09%	0.14%	0.09%
DTM	B	0.01%	0.23%	0.01%
DVA	B	0.18%	0.41%	0.18%
DXC	C	0.02%	0.31%	0.02%
EHC	B	0.08%	0.16%	0.08%
EME	B	0.03%	0.38%	0.03%
EMN	B	0.06%	0.29%	0.06%
ESAB	C	0.01%	0.15%	0.01%
ESI	D	0.01%	0.07%	0.01%
ESNT	B	0.01%	0.4%	0.01%
EVR	B	0.12%	0.08%	0.08%
EVRG	A	0.01%	0.33%	0.01%
EWBC	C	0.02%	0.23%	0.02%
EXEL	B	0.02%	0.17%	0.02%
EXP	B	0.05%	0.09%	0.05%
FAF	B	0.02%	0.17%	0.02%
FCN	C	0.07%	0.22%	0.07%
FFIV	A	0.04%	0.09%	0.04%
FHN	D	0.01%	0.21%	0.01%
FIX	B	0.05%	0.4%	0.05%
FLO	C	0.04%	0.07%	0.04%
FLR	D	0.01%	0.07%	0.01%
FLS	D	0.02%	0.07%	0.02%
FYBR	C	0.01%	0.39%	0.01%
G	C	0.05%	0.43%	0.05%
GAP	F	0.07%	0.19%	0.07%
GATX	D	0.04%	0.15%	0.04%
GMS	C	0.03%	0.3%	0.03%
GNRC	D	0.04%	0.08%	0.04%
GNTX	F	0.06%	0.12%	0.06%
GOLF	F	0.01%	0.22%	0.01%
GPI	B	0.09%	0.42%	0.09%
GPK	B	0.1%	0.16%	0.1%
GT	F	0.03%	0.15%	0.03%
GWRE	A	0.02%	0.36%	0.02%
H	C	0.01%	0.28%	0.01%
HAE	D	0.02%	0.06%	0.02%
HCC	F	0.06%	0.19%	0.06%
HII	C	0.02%	0.3%	0.02%
HLI	B	0.08%	0.08%	0.08%
HOG	C	0.02%	0.38%	0.02%
HOOD	C	0.03%	0.34%	0.03%
HP	D	0.03%	0.31%	0.03%
HRB	C	0.09%	0.42%	0.09%
HSIC	C	0.03%	0.15%	0.03%
HUN	D	0.01%	0.07%	0.01%
IBKR	B	0.05%	0.36%	0.05%
INGR	A	0.06%	0.17%	0.06%
IP	B	0.12%	0.16%	0.12%
ITT	C	0.08%	0.22%	0.08%
IVZ	C	0.05%	0.08%	0.05%
JAZZ	D	0.01%	0.29%	0.01%
JEF	B	0.03%	0.17%	0.03%
JLL	B	0.05%	0.18%	0.05%
JXN	B	0.09%	0.4%	0.09%
KBH	B	0.04%	0.42%	0.04%
KD	D	0.06%	0.31%	0.06%
KEX	C	0.01%	0.14%	0.01%
KNX	C	0.01%	0.23%	0.01%
KTB	B	0.05%	0.32%	0.05%
LAD	C	0.01%	0.39%	0.01%
LAMR	A	0.05%	0.15%	0.05%
LANC	D	0.04%	0.07%	0.04%
LBRDK	D	0.02%	0.4%	0.02%
LEA	D	0.03%	0.26%	0.03%
LNC	D	0.05%	0.27%	0.05%
LNW	B	0.02%	0.3%	0.02%
LOPE	D	0.05%	0.22%	0.05%
LPX	B	0.06%	0.17%	0.06%
LSTR	D	0.08%	0.07%	0.07%
LYFT	D	0.01%	0.06%	0.01%
M	F	0.04%	0.17%	0.04%
MAC	B	0.04%	0.08%	0.04%
MAN	C	0.04%	0.07%	0.04%
MATX	C	0.02%	0.29%	0.02%
MDU	B	0.03%	0.29%	0.03%
MHK	B	0.01%	0.1%	0.01%
MHO	B	0.05%	0.47%	0.05%
MKSI	F	0.01%	0.18%	0.01%
MLI	B	0.06%	0.35%	0.06%
MMS	D	0.06%	0.15%	0.06%
MOG.A	B	0.04%	0.42%	0.04%
MORN	C	0.03%	0.23%	0.03%
MOS	F	0.04%	0.31%	0.04%
MSA	C	0.03%	0.13%	0.03%
MTDR	D	0.01%	0.3%	0.01%
MTG	B	0.04%	0.41%	0.04%
MTH	B	0.08%	0.44%	0.08%
MUR	D	0.05%	0.3%	0.05%
MUSA	C	0.17%	0.41%	0.17%
NEU	D	0.03%	0.08%	0.03%
NFG	B	0.04%	0.39%	0.04%
NOV	D	0.04%	0.3%	0.04%
NRG	C	0.07%	0.22%	0.07%
NSIT	C	0.06%	0.07%	0.06%
NXST	D	0.05%	0.28%	0.05%
NYT	C	0.05%	0.22%	0.05%
OGN	D	0.08%	0.14%	0.08%
OLLI	C	0.01%	0.36%	0.01%
OLN	D	0.04%	0.19%	0.04%
OMF	C	0.03%	0.2%	0.03%
ONB	C	0.01%	0.31%	0.01%
ORA	C	0.02%	0.15%	0.02%
OSK	D	0.07%	0.26%	0.07%
PAG	D	0.04%	0.29%	0.04%
PBF	F	0.06%	0.25%	0.06%
PFSI	B	0.02%	0.08%	0.02%
POST	C	0.05%	0.4%	0.05%
PR	D	0.04%	0.12%	0.04%
PSN	B	0.02%	0.42%	0.02%
PTEN	F	0.01%	0.28%	0.01%
PVH	F	0.04%	0.32%	0.04%
R	B	0.06%	0.32%	0.06%
RBC	C	0.01%	0.08%	0.01%
RGA	B	0.05%	0.15%	0.05%
RGLD	B	0.04%	0.08%	0.04%
RHI	D	0.02%	0.14%	0.02%
RL	B	0.04%	0.29%	0.04%
RLI	B	0.03%	0.15%	0.03%
RRC	D	0.04%	0.25%	0.04%
RUSHA	C	0.03%	0.42%	0.03%
RYN	C	0.02%	0.23%	0.02%
SAIA	D	0.04%	0.06%	0.04%
SAIC	C	0.01%	0.25%	0.01%
SAM	F	0.02%	0.06%	0.02%
SANM	D	0.05%	0.29%	0.05%
SEB	C	0.04%	0.35%	0.04%
SEE	D	0.06%	0.07%	0.06%
SEIC	B	0.07%	0.22%	0.07%
SEM	D	0.03%	0.14%	0.03%
SF	A	0.01%	0.07%	0.01%
SFM	B	0.19%	0.44%	0.19%
SIG	C	0.04%	0.35%	0.04%
SIGI	C	0.01%	0.14%	0.01%
SKX	C	0.02%	0.21%	0.02%
SLGN	B	0.04%	0.26%	0.04%
SLM	C	0.06%	0.22%	0.06%
SM	D	0.03%	0.32%	0.03%
SNV	C	0.01%	0.16%	0.01%
SON	C	0.04%	0.31%	0.04%
SWX	C	0.01%	0.22%	0.01%
TAP	C	0.08%	0.39%	0.08%
TEX	D	0.06%	0.33%	0.06%
TFX	C	0.03%	0.17%	0.03%
THC	B	0.27%	0.34%	0.27%
THG	A	0.04%	0.08%	0.04%
THO	D	0.06%	0.3%	0.06%
TKR	D	0.05%	0.28%	0.05%
TMHC	B	0.08%	0.43%	0.08%
TNET	D	0.01%	0.07%	0.01%
TOL	B	0.1%	0.36%	0.1%
TPH	C	0.05%	0.42%	0.05%
TPR	C	0.01%	0.07%	0.01%
TPX	C	0.06%	0.08%	0.06%
TTEK	C	0.02%	0.41%	0.02%
TW	A	0.05%	0.32%	0.05%
TXRH	D	0.05%	0.34%	0.05%
UDR	B	0.03%	0.16%	0.03%
UFPI	C	0.06%	0.3%	0.06%
UHS	B	0.09%	0.36%	0.09%
UNM	B	0.1%	0.31%	0.1%
URBN	D	0.05%	0.25%	0.05%
USFD	B	0.09%	0.16%	0.09%
UTHR	C	0.16%	0.31%	0.16%
VNO	B	0.06%	0.2%	0.06%
VNT	D	0.02%	0.06%	0.02%
WAL	B	0.01%	0.27%	0.01%
WBS	C	0.01%	0.29%	0.01%
WCC	C	0.08%	0.28%	0.08%
WHR	D	0.04%	0.2%	0.04%
WMS	D	0.02%	0.13%	0.02%
WSM	C	0.21%	0.21%	0.21%
WTFC	B	0.01%	0.23%	0.01%
WTM	F	0.04%	0.34%	0.04%
WU	D	0.08%	0.21%	0.08%
WWD	D	0.01%	0.35%	0.01%
XPO	D	0.03%	0.22%	0.03%
XRAY	D	0.04%	0.07%	0.04%
ZION	D	0.03%	0.23%	0.03%

MFUS Overweight 537 Positions Relative to FNX

Symbol	Grade	Weight
LLY	C	2.48%
META	A	2.02%
BRK.A	C	2.01%
WMT	B	1.87%
NVDA	D	1.6%
WFC	D	1.4%
AVGO	C	1.34%
ABBV	C	1.34%
IBM	B	1.32%
AMZN	C	1.27%
T	B	1.23%
C	D	1.22%
COST	C	1.21%
GOOGL	D	1.17%
ORCL	B	1.13%
GE	B	1.09%
JNJ	B	1.03%
AMGN	B	1.03%
VZ	B	1.01%
XOM	D	0.99%
JPM	D	0.9%
PG	C	0.88%
MRK	D	0.87%
V	B	0.86%
CVS	D	0.8%
MA	B	0.79%
CVX	D	0.79%
GILD	B	0.78%
TGT	C	0.68%
AAPL	D	0.67%
MPC	D	0.64%
PEP	C	0.62%
QCOM	D	0.62%
KO	B	0.6%
PM	C	0.56%
GM	B	0.56%
VLO	D	0.54%
PSX	D	0.54%
PFE	C	0.53%
MO	C	0.52%
LMT	C	0.52%
MCK	F	0.51%
PGR	A	0.5%
UNP	B	0.48%
BKNG	B	0.47%
GS	D	0.45%
REGN	C	0.45%
NFLX	B	0.44%
AMAT	D	0.44%
AIG	D	0.42%
CSCO	B	0.42%
COF	C	0.42%
MMM	B	0.41%
CAT	C	0.41%
MCD	C	0.4%
BAC	D	0.39%
HD	B	0.39%
NOW	A	0.37%
ALL	A	0.36%
MET	A	0.36%
INTC	F	0.36%
CRM	D	0.35%
CAH	C	0.35%
TJX	C	0.34%
KR	B	0.34%
EBAY	B	0.34%
CL	C	0.33%
F	D	0.33%
TRV	B	0.32%
ADM	D	0.32%
TMUS	C	0.31%
AZO	D	0.3%
COP	D	0.3%
ICE	B	0.29%
SYF	C	0.29%
BMY	C	0.28%
BK	A	0.27%
DHR	B	0.27%
HPQ	D	0.27%
LRCX	F	0.27%
VST	C	0.26%
INTU	D	0.26%
PRU	C	0.25%
PANW	D	0.25%
BBY	B	0.24%
CHTR	D	0.24%
CMCSA	D	0.24%
LII	B	0.23%
NOC	B	0.23%
LOW	B	0.23%
WM	D	0.23%
BX	B	0.23%
KLAC	D	0.23%
MDLZ	B	0.22%
CMG	C	0.22%
TSN	C	0.22%
FICO	A	0.22%
SHW	B	0.21%
TXN	C	0.21%
UBER	C	0.21%
LYB	F	0.21%
DD	B	0.21%
VRTX	D	0.21%
GLW	B	0.2%
WSO	C	0.2%
HPE	D	0.2%
CME	C	0.2%
VRSK	D	0.2%
UPS	D	0.19%
BSX	B	0.19%
AXP	B	0.19%
LHX	D	0.19%
MMC	C	0.19%
ACN	C	0.19%
CPRT	D	0.19%
AFL	B	0.19%
AON	B	0.19%
CTAS	C	0.18%
DPZ	F	0.18%
ETN	C	0.18%
ORLY	B	0.18%
PHM	B	0.17%
DECK	C	0.17%
GD	B	0.17%
GWW	B	0.17%
IT	B	0.16%
BR	D	0.16%
CB	B	0.16%
KHC	C	0.16%
KMB	D	0.16%
SCHW	D	0.16%
BKR	D	0.16%
SPG	B	0.15%
MU	F	0.15%
EMR	D	0.15%
MSI	C	0.15%
CLX	C	0.15%
WDC	D	0.15%
TDG	B	0.15%
BAH	B	0.14%
WBA	F	0.14%
CI	C	0.14%
SMCI	F	0.14%
KKR	B	0.13%
RSG	D	0.13%
RMD	C	0.13%
PWR	B	0.13%
JNPR	A	0.13%
BRO	C	0.13%
TRGP	B	0.13%
PH	B	0.13%
DUK	C	0.13%
HCA	B	0.13%
VTRS	C	0.13%
EXC	B	0.12%
WELL	B	0.12%
CARR	B	0.12%
HWM	B	0.12%
STE	C	0.12%
ANET	B	0.12%
EOG	D	0.11%
XYL	D	0.11%
USB	B	0.11%
CMI	C	0.11%
GIS	B	0.11%
RPM	B	0.11%
MAR	C	0.11%
IRM	B	0.11%
K	A	0.1%
PNC	B	0.1%
AVY	D	0.1%
YUM	D	0.1%
APH	D	0.1%
JKHY	B	0.1%
MRO	D	0.1%
APO	C	0.1%
FTI	D	0.1%
FAST	C	0.1%
CRS	B	0.1%
ERIE	A	0.09%
ADSK	B	0.09%
ADP	B	0.09%
SLB	F	0.09%
IR	C	0.09%
EA	D	0.09%
CHRW	B	0.09%
BDX	F	0.09%
TFC	D	0.09%
DASH	C	0.09%
FCX	D	0.09%
CEG	C	0.09%
ARES	B	0.09%
AJG	C	0.09%
URI	B	0.09%
EFX	C	0.09%
GDDY	C	0.09%
NEM	B	0.09%
NUE	F	0.08%
TROW	D	0.08%
MTD	D	0.08%
DFS	C	0.08%
LECO	F	0.08%
MKC	B	0.08%
BIIB	F	0.08%
TYL	C	0.08%
FIS	B	0.08%
PCAR	D	0.08%
WMB	B	0.08%
AMP	B	0.08%
OKE	B	0.08%
ECL	B	0.08%
HLT	B	0.08%
RCL	B	0.08%
FOXA	B	0.08%
RS	D	0.08%
LUMN	C	0.08%
ITW	B	0.08%
LDOS	C	0.08%
KMI	A	0.08%
IEX	D	0.08%
LEN	B	0.08%
NTAP	D	0.08%
ELV	C	0.08%
L	B	0.08%
MPWR	C	0.08%
DLR	B	0.08%
HUBB	B	0.08%
CSX	D	0.08%
PNR	B	0.08%
CHD	C	0.07%
JBL	D	0.07%
POOL	C	0.07%
CALM	B	0.07%
SLG	B	0.07%
CE	D	0.07%
TSCO	C	0.07%
OTIS	D	0.07%
EQH	C	0.07%
OC	C	0.07%
NVR	B	0.07%
LPLA	D	0.07%
GLPI	B	0.07%
SYY	D	0.07%
IPG	C	0.07%
EXPD	B	0.07%
TTC	D	0.07%
ROST	C	0.07%
TTWO	D	0.07%
EXR	B	0.07%
MSCI	C	0.07%
BALL	C	0.07%
MNST	C	0.06%
PK	D	0.06%
MSM	D	0.06%
HIG	A	0.06%
SBUX	C	0.06%
KSS	F	0.06%
FTNT	C	0.06%
IDXX	C	0.06%
CHE	C	0.06%
MAS	B	0.06%
MLM	D	0.06%
OMC	A	0.06%
HSY	C	0.06%
X	D	0.06%
INVH	C	0.06%
SCI	B	0.06%
ROP	C	0.06%
SPGI	B	0.06%
VMC	D	0.06%
CFG	D	0.06%
CRI	C	0.06%
COIN	F	0.06%
CNX	A	0.06%
NWSA	D	0.06%
KDP	A	0.06%
DGX	B	0.06%
ATGE	D	0.05%
CAG	B	0.05%
CCL	C	0.05%
WAT	C	0.05%
SKYW	C	0.05%
WEN	C	0.05%
ROL	C	0.05%
PKG	B	0.05%
MTN	D	0.05%
WTW	B	0.05%
VIRT	B	0.05%
PTC	D	0.05%
A	C	0.05%
FCNCA	D	0.05%
DELL	D	0.05%
FL	D	0.05%
WPC	B	0.05%
CPAY	B	0.05%
FDS	C	0.05%
SUI	B	0.05%
DG	F	0.05%
FITB	B	0.05%
FLEX	C	0.05%
CDW	D	0.05%
PEG	B	0.05%
ANSS	F	0.05%
APLE	D	0.04%
GEO	F	0.04%
LW	D	0.04%
HUBG	C	0.04%
FHI	A	0.04%
TGNA	C	0.04%
BLDR	C	0.04%
CRBG	D	0.04%
COLD	D	0.04%
VC	F	0.04%
HAL	F	0.04%
BAX	C	0.04%
CNO	B	0.04%
AMH	C	0.04%
HEI	B	0.04%
GVA	B	0.04%
NBIX	F	0.04%
ENTG	D	0.04%
GNW	B	0.04%
PINS	F	0.04%
ELS	C	0.04%
VRSN	D	0.04%
ABM	D	0.04%
ADBE	D	0.04%
HXL	F	0.04%
GGG	C	0.04%
ZTS	B	0.04%
STLD	D	0.04%
SRCL	A	0.04%
ACM	B	0.04%
BDC	B	0.04%
FANG	D	0.04%
DOW	D	0.04%
NDSN	C	0.04%
WST	D	0.04%
NKE	D	0.04%
STZ	C	0.04%
WAB	A	0.04%
SMG	C	0.04%
PPG	C	0.04%
BEN	F	0.04%
ULTA	D	0.04%
AKAM	D	0.03%
SSD	C	0.03%
DRI	C	0.03%
OKTA	F	0.03%
TXT	D	0.03%
FNF	A	0.03%
HBAN	B	0.03%
VVV	D	0.03%
FR	C	0.03%
PRG	B	0.03%
NAVI	C	0.03%
MC	B	0.03%
DK	F	0.03%
MOH	C	0.03%
BKU	C	0.03%
SBAC	C	0.03%
BRKR	D	0.03%
BURL	B	0.03%
SJM	C	0.03%
PRIM	C	0.03%
YELP	F	0.03%
GBX	C	0.03%
MTB	B	0.03%
WH	B	0.03%
SHOO	B	0.03%
DBRG	D	0.03%
EQIX	B	0.03%
WTS	C	0.03%
SBH	B	0.03%
MCO	A	0.03%
DLB	D	0.03%
RPRX	C	0.03%
HBI	B	0.03%
TRN	C	0.03%
AVA	B	0.03%
PDCO	F	0.03%
MKL	C	0.03%
MANH	B	0.03%
SLVM	B	0.03%
TDS	C	0.03%
FND	C	0.03%
DOX	C	0.03%
BHF	D	0.03%
HOLX	B	0.03%
VSH	D	0.03%
TER	D	0.03%
JHG	B	0.03%
UHAL	B	0.03%
IFF	B	0.03%
PSTG	F	0.03%
AROC	C	0.03%
CPNG	B	0.03%
PAYX	C	0.03%
PSA	B	0.03%
JWN	B	0.03%
OI	D	0.03%
AVTR	B	0.03%
CTVA	B	0.03%
LEG	D	0.02%
ODFL	C	0.02%
VFC	C	0.02%
PARA	F	0.02%
APOG	B	0.02%
NWL	D	0.02%
BXP	B	0.02%
HNI	B	0.02%
LXP	B	0.02%
SNDR	B	0.02%
ODP	F	0.02%
ANDE	D	0.02%
DORM	B	0.02%
OSIS	C	0.02%
HST	D	0.02%
SNAP	F	0.02%
GES	F	0.02%
XRX	F	0.02%
BMRN	F	0.02%
CC	F	0.02%
IGT	D	0.02%
MCY	C	0.02%
DOV	B	0.02%
XHR	C	0.02%
GPC	D	0.02%
NTCT	D	0.02%
AA	D	0.02%
PMT	B	0.02%
SXT	C	0.02%
GHC	C	0.02%
EPC	F	0.02%
REZI	D	0.02%
KBR	D	0.02%
CINF	B	0.02%
NSP	D	0.02%
VSTO	B	0.02%
RLJ	D	0.02%
MKTX	C	0.02%
CG	C	0.02%
GEF	D	0.02%
GMED	D	0.02%
KEY	B	0.02%
AIR	C	0.02%
KMPR	D	0.02%
CTLT	B	0.02%
COHR	B	0.02%
CXW	F	0.02%
JBHT	D	0.02%
PLXS	B	0.02%
APAM	C	0.02%
ALGN	D	0.02%
TDC	F	0.02%
PNM	B	0.02%
WERN	D	0.02%
DRH	C	0.02%
PINC	C	0.02%
LZB	C	0.02%
WRB	C	0.02%
NTRS	B	0.02%
MASI	D	0.02%
SHO	D	0.02%
STC	B	0.02%
BKE	B	0.02%
NDAQ	B	0.02%
ADNT	F	0.02%
UNF	B	0.02%
GEHC	C	0.02%
NVT	D	0.02%
DLTR	F	0.02%
CTRA	F	0.02%
THS	C	0.02%
SCHL	D	0.01%
UHAL	B	0.01%
SCL	D	0.01%
ARCH	F	0.01%
KALU	F	0.01%
UAL	B	0.01%
SCCO	D	0.01%
ACI	F	0.01%
SWN	D	0.01%
ECPG	C	0.01%
WGO	D	0.01%
UVV	D	0.01%
QRVO	F	0.01%
HELE	D	0.01%
HPP	D	0.01%
MLKN	D	0.01%
ELAN	D	0.01%
WOR	F	0.01%
JELD	D	0.01%
SYNA	F	0.01%
HRL	C	0.01%
PFG	B	0.01%
ARCB	D	0.01%
INCY	C	0.01%
CENTA	D	0.01%
JBGS	B	0.01%
LVS	D	0.01%
AMED	C	0.01%
FELE	C	0.01%
WAFD	B	0.01%
SPB	B	0.01%
WMK	C	0.01%
BRC	B	0.01%
DY	B	0.01%
KN	D	0.01%
PECO	B	0.01%
CBRL	D	0.01%
CSGS	C	0.01%
STRA	D	0.01%
TTMI	D	0.01%
CPB	B	0.01%
CPRI	D	0.01%
DEI	B	0.01%
AMWD	C	0.01%
TREX	F	0.01%
LAUR	B	0.01%
OMI	D	0.01%
SAH	D	0.01%
NNI	B	0.01%
IOSP	D	0.01%
LADR	B	0.01%
PSMT	B	0.01%
CWEN	B	0.01%
BHE	C	0.01%
DAN	F	0.01%
RJF	C	0.01%
PHIN	B	0.01%
SCS	B	0.01%
DNOW	D	0.01%
CSL	C	0.01%
SATS	B	0.01%
NOMD	B	0.0%
WOLF	F	0.0%

MFUS Underweight 196 Positions Relative to FNX

Symbol	Grade	Weight
NTRA	B	-0.42%
HALO	B	-0.42%
RNR	B	-0.41%
RDN	B	-0.4%
INSM	D	-0.4%
MOD	C	-0.4%
FMC	C	-0.39%
FRPT	B	-0.39%
CVNA	B	-0.39%
ESGR	D	-0.38%
BCO	B	-0.38%
AVAV	D	-0.37%
LNTH	C	-0.37%
GL	C	-0.36%
AGO	C	-0.36%
CUZ	B	-0.36%
ENSG	C	-0.35%
MGY	C	-0.34%
DAR	F	-0.34%
PNW	B	-0.34%
VLY	C	-0.34%
WING	B	-0.34%
COLB	B	-0.34%
KRC	B	-0.33%
LBRT	D	-0.33%
NOG	D	-0.33%
BKH	B	-0.32%
BMI	B	-0.32%
RYAN	C	-0.32%
POR	B	-0.32%
CHK	D	-0.32%
OGS	B	-0.32%
ARMK	B	-0.32%
OGE	B	-0.32%
AL	D	-0.32%
TKO	B	-0.31%
GKOS	D	-0.31%
AAON	B	-0.31%
BYD	C	-0.31%
ITGR	B	-0.31%
FSS	D	-0.3%
OVV	D	-0.3%
MEDP	D	-0.3%
CNXC	D	-0.3%
ALK	C	-0.29%
SRPT	F	-0.29%
PII	D	-0.29%
APA	F	-0.29%
TOST	B	-0.29%
OZK	D	-0.28%
CZR	C	-0.27%
WFRD	F	-0.27%
ABCB	B	-0.26%
OHI	A	-0.26%
HQY	C	-0.26%
SFBS	B	-0.26%
MTSI	D	-0.26%
SSB	B	-0.26%
ADTN	F	-0.26%
DNB	C	-0.26%
VAL	F	-0.26%
APPF	D	-0.26%
PNFP	B	-0.25%
LNT	A	-0.25%
NI	B	-0.25%
PB	B	-0.25%
KNF	B	-0.25%
NJR	B	-0.24%
PEGA	C	-0.24%
BOKF	B	-0.24%
VRNS	C	-0.24%
IDA	B	-0.24%
HOMB	B	-0.24%
MMSI	B	-0.24%
ORI	A	-0.24%
UBSI	B	-0.24%
BPMC	D	-0.23%
MIDD	C	-0.23%
ATKR	F	-0.23%
PRGO	D	-0.23%
PRI	B	-0.23%
AXS	B	-0.23%
TPL	C	-0.23%
VRRM	D	-0.22%
FNB	D	-0.22%
HWC	D	-0.22%
ASGN	D	-0.22%
COLM	B	-0.22%
WTRG	D	-0.22%
SNX	D	-0.21%
OLED	C	-0.21%
OWL	C	-0.21%
CLF	F	-0.21%
AM	B	-0.21%
ASH	D	-0.2%
ELF	F	-0.2%
IOT	A	-0.2%
ENS	C	-0.2%
IONS	F	-0.19%
ESTC	F	-0.19%
CROX	C	-0.19%
ALTR	C	-0.19%
ONTO	F	-0.19%
HGV	D	-0.19%
SKY	B	-0.19%
HLNE	B	-0.18%
UMBF	B	-0.18%
EXLS	C	-0.17%
SMAR	B	-0.17%
HAS	B	-0.17%
IPGP	F	-0.17%
RIG	F	-0.17%
EPRT	A	-0.17%
CRVL	B	-0.17%
RVMD	C	-0.16%
BPOP	C	-0.16%
IAC	C	-0.16%
FOUR	C	-0.16%
DUOL	B	-0.16%
ITCI	D	-0.16%
IRT	B	-0.16%
PFGC	B	-0.16%
EXPO	B	-0.16%
TDW	F	-0.16%
PLNT	A	-0.16%
REYN	C	-0.16%
MAT	C	-0.16%
AXSM	C	-0.16%
NCLH	C	-0.15%
IBP	C	-0.15%
SUM	C	-0.15%
UGI	C	-0.15%
BRBR	B	-0.15%
FUL	D	-0.15%
ACLS	F	-0.15%
AVNT	B	-0.15%
VOYA	A	-0.15%
KAI	C	-0.15%
CWST	D	-0.15%
EEFT	D	-0.14%
KWR	D	-0.14%
LFUS	D	-0.14%
GXO	D	-0.14%
FIZZ	D	-0.13%
OTTR	D	-0.13%
SMPL	D	-0.13%
INFA	D	-0.12%
WYNN	D	-0.12%
AFRM	C	-0.1%
KRG	B	-0.09%
KNSL	C	-0.09%
BRX	B	-0.09%
REG	C	-0.09%
FFIN	B	-0.09%
ADC	C	-0.09%
BOX	B	-0.09%
CFLT	F	-0.09%
KMX	D	-0.08%
CFR	C	-0.08%
STWD	A	-0.08%
S	C	-0.08%
BLKB	B	-0.08%
MSGS	B	-0.08%
BXMT	C	-0.08%
EGP	B	-0.08%
BCPC	C	-0.08%
RRX	C	-0.08%
ALKS	C	-0.08%
ZWS	B	-0.08%
SITE	D	-0.08%
NVST	D	-0.08%
SOFI	C	-0.08%
PCH	C	-0.08%
CIEN	C	-0.08%
NNN	B	-0.08%
GBCI	B	-0.08%
WDFC	B	-0.08%
WMG	D	-0.07%
MSTR	D	-0.07%
ALIT	D	-0.07%
VMI	D	-0.07%
NEOG	C	-0.07%
YETI	D	-0.07%
HRI	C	-0.07%
AZEK	C	-0.07%
TECH	C	-0.07%
CHH	C	-0.07%
GTLS	F	-0.06%
MARA	F	-0.06%
AEIS	D	-0.06%
CAR	F	-0.05%
IRTC	F	-0.05%
AMR	F	-0.05%
ALGM	F	-0.05%
CIVI	F	-0.05%
CELH	F	-0.04%