MFUS vs. IVE ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to iShares S&P 500 Value ETF (IVE)

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

$50.19

Average Daily Volume

7,813

Number of Holdings ^*

809

* may have additional holdings in another (foreign) market

IVE

iShares S&P 500 Value ETF

IVE Description

The investment seeks to track the investment results of an index composed of large-capitalization U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the S&P 500Â® Value Index (the "underlying index"), which measures the performance of the large-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$196.34

Average Daily Volume

497,824

Number of Holdings ^*

436

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	IVE
30 Days	1.17%	0.80%
60 Days	7.18%	5.97%
90 Days	6.11%	8.97%
12 Months	33.78%	31.15%

329 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in IVE	Overlap
A	B	0.05%	0.2%	0.05%
ABBV	A	1.56%	1.03%	1.03%
ACN	B	0.23%	0.46%	0.23%
ADM	D	0.25%	0.14%	0.14%
ADP	A	0.1%	0.33%	0.1%
ADSK	C	0.08%	0.13%	0.08%
AEP	B	0.09%	0.26%	0.09%
AES	B	0.02%	0.06%	0.02%
AFL	A	0.22%	0.26%	0.22%
AIG	F	0.34%	0.23%	0.23%
AIZ	A	0.08%	0.05%	0.05%
AJG	D	0.14%	0.14%	0.14%
AKAM	D	0.03%	0.04%	0.03%
ALGN	D	0.02%	0.04%	0.02%
ALL	C	0.26%	0.24%	0.24%
AMGN	D	1.01%	0.87%	0.87%
AMP	A	0.12%	0.1%	0.1%
AMT	C	0.16%	0.31%	0.16%
ANSS	D	0.05%	0.06%	0.05%
AON	A	0.23%	0.18%	0.18%
AOS	B	0.1%	0.02%	0.02%
APH	D	0.11%	0.17%	0.11%
ATO	A	0.02%	0.1%	0.02%
AVB	C	0.03%	0.16%	0.03%
AVY	B	0.1%	0.08%	0.08%
AXP	A	0.21%	0.22%	0.21%
AZO	D	0.29%	0.08%	0.08%
BAC	D	0.39%	1.3%	0.39%
BALL	B	0.08%	0.1%	0.08%
BAX	D	0.05%	0.09%	0.05%
BBWI	F	0.01%	0.03%	0.01%
BBY	B	0.23%	0.09%	0.09%
BDX	B	0.12%	0.32%	0.12%
BEN	F	0.02%	0.03%	0.02%
BIIB	F	0.08%	0.14%	0.08%
BK	C	0.17%	0.25%	0.17%
BKR	B	0.07%	0.17%	0.07%
BLK	B	0.17%	0.62%	0.17%
BMY	B	0.36%	0.48%	0.36%
BR	B	0.16%	0.05%	0.05%
BRK.A	C	2.37%	3.99%	2.37%
BRO	A	0.11%	0.03%	0.03%
BSX	A	0.2%	0.27%	0.2%
BWA	C	0.01%	0.04%	0.01%
BX	C	0.11%	0.15%	0.11%
BXP	C	0.02%	0.06%	0.02%
C	B	0.63%	0.57%	0.57%
CAG	B	0.05%	0.07%	0.05%
CAH	B	0.24%	0.13%	0.13%
CARR	C	0.05%	0.17%	0.05%
CAT	A	0.2%	0.36%	0.2%
CB	A	0.17%	0.52%	0.17%
CBRE	A	0.05%	0.18%	0.05%
CCI	A	0.08%	0.24%	0.08%
CCL	C	0.02%	0.03%	0.02%
CDW	D	0.04%	0.08%	0.04%
CEG	B	0.13%	0.21%	0.13%
CFG	D	0.03%	0.09%	0.03%
CHD	B	0.07%	0.06%	0.06%
CHRW	A	0.14%	0.06%	0.06%
CHTR	D	0.25%	0.08%	0.08%
CI	C	0.15%	0.48%	0.15%
CINF	A	0.02%	0.1%	0.02%
CL	D	0.41%	0.25%	0.25%
CLX	B	0.12%	0.1%	0.1%
CMCSA	B	0.16%	0.74%	0.16%
CME	A	0.14%	0.23%	0.14%
CMI	B	0.13%	0.2%	0.13%
CMS	A	0.03%	0.1%	0.03%
CNC	F	0.06%	0.19%	0.06%
COF	C	0.24%	0.28%	0.24%
COP	D	0.07%	0.19%	0.07%
COST	C	1.36%	1.12%	1.12%
CPB	D	0.05%	0.05%	0.05%
CPT	C	0.06%	0.06%	0.06%
CSCO	A	0.61%	1.0%	0.61%
CSX	D	0.11%	0.16%	0.11%
CTAS	C	0.19%	0.15%	0.15%
CTLT	B	0.02%	0.05%	0.02%
CTVA	B	0.04%	0.19%	0.04%
CVS	D	0.71%	0.35%	0.35%
CVX	D	0.36%	1.19%	0.36%
D	A	0.07%	0.23%	0.07%
DD	B	0.11%	0.17%	0.11%
DELL	D	0.03%	0.08%	0.03%
DFS	C	0.08%	0.08%	0.08%
DG	F	0.1%	0.09%	0.09%
DGX	C	0.09%	0.08%	0.08%
DHR	B	0.28%	0.84%	0.28%
DLR	C	0.08%	0.14%	0.08%
DLTR	F	0.03%	0.07%	0.03%
DOV	C	0.02%	0.12%	0.02%
DOW	B	0.02%	0.17%	0.02%
DPZ	D	0.13%	0.04%	0.04%
DRI	C	0.03%	0.05%	0.03%
DTE	A	0.02%	0.12%	0.02%
DUK	B	0.14%	0.43%	0.14%
DVA	B	0.17%	0.02%	0.02%
EA	D	0.16%	0.09%	0.09%
EBAY	A	0.38%	0.15%	0.15%
ECL	A	0.08%	0.15%	0.08%
ED	A	0.06%	0.17%	0.06%
EFX	D	0.13%	0.11%	0.11%
EIX	A	0.05%	0.16%	0.05%
ELV	F	0.2%	0.6%	0.2%
EMN	B	0.04%	0.06%	0.04%
EMR	B	0.07%	0.29%	0.07%
EQR	C	0.04%	0.13%	0.04%
ERIE	A	0.06%	0.03%	0.03%
ES	A	0.04%	0.11%	0.04%
ESS	C	0.02%	0.09%	0.02%
ETR	A	0.04%	0.13%	0.04%
EVRG	B	0.02%	0.07%	0.02%
EXC	A	0.07%	0.19%	0.07%
EXPD	B	0.09%	0.05%	0.05%
EXR	C	0.13%	0.18%	0.13%
F	D	0.15%	0.2%	0.15%
FAST	C	0.11%	0.1%	0.1%
FDS	C	0.04%	0.05%	0.04%
FE	A	0.03%	0.11%	0.03%
FFIV	C	0.06%	0.06%	0.06%
FIS	C	0.07%	0.22%	0.07%
FITB	C	0.04%	0.14%	0.04%
FOXA	A	0.1%	0.04%	0.04%
GD	A	0.24%	0.38%	0.24%
GE	C	0.61%	0.55%	0.55%
GEHC	B	0.08%	0.18%	0.08%
GILD	A	0.79%	0.5%	0.5%
GIS	B	0.2%	0.2%	0.2%
GLW	C	0.19%	0.16%	0.16%
GM	D	0.32%	0.26%	0.26%
GNRC	B	0.05%	0.02%	0.02%
GS	D	0.35%	0.75%	0.35%
GWW	A	0.19%	0.05%	0.05%
HBAN	C	0.03%	0.1%	0.03%
HCA	A	0.3%	0.19%	0.19%
HD	A	0.6%	1.17%	0.6%
HIG	A	0.06%	0.16%	0.06%
HII	D	0.03%	0.05%	0.03%
HOLX	D	0.03%	0.09%	0.03%
HPE	C	0.1%	0.12%	0.1%
HPQ	C	0.29%	0.16%	0.16%
HRL	F	0.02%	0.04%	0.02%
HSIC	C	0.03%	0.04%	0.03%
HST	D	0.02%	0.02%	0.02%
HSY	D	0.06%	0.09%	0.06%
HUBB	A	0.03%	0.06%	0.03%
HWM	A	0.15%	0.08%	0.08%
IBM	C	1.14%	0.96%	0.96%
ICE	A	0.3%	0.44%	0.3%
IDXX	D	0.06%	0.09%	0.06%
IEX	D	0.08%	0.08%	0.08%
IFF	C	0.04%	0.12%	0.04%
INCY	B	0.01%	0.05%	0.01%
INTC	D	0.19%	0.45%	0.19%
INVH	D	0.04%	0.1%	0.04%
IP	B	0.08%	0.08%	0.08%
IPG	C	0.04%	0.06%	0.04%
IR	B	0.08%	0.04%	0.04%
IRM	B	0.12%	0.08%	0.08%
ISRG	C	0.23%	0.28%	0.23%
ITW	B	0.1%	0.18%	0.1%
IVZ	C	0.03%	0.04%	0.03%
JBHT	D	0.02%	0.07%	0.02%
JBL	D	0.03%	0.03%	0.03%
JCI	B	0.06%	0.24%	0.06%
JKHY	A	0.1%	0.06%	0.06%
JNJ	C	1.28%	1.89%	1.28%
JNPR	C	0.13%	0.06%	0.06%
JPM	D	0.88%	2.88%	0.88%
K	B	0.15%	0.1%	0.1%
KDP	C	0.08%	0.19%	0.08%
KEY	C	0.02%	0.08%	0.02%
KHC	B	0.16%	0.15%	0.15%
KIM	C	0.02%	0.08%	0.02%
KMB	B	0.18%	0.23%	0.18%
KMI	A	0.09%	0.2%	0.09%
KO	B	1.16%	0.81%	0.81%
KR	B	0.37%	0.18%	0.18%
L	D	0.06%	0.07%	0.06%
LDOS	A	0.11%	0.1%	0.1%
LEN	B	0.07%	0.09%	0.07%
LHX	A	0.23%	0.21%	0.21%
LMT	A	0.82%	0.58%	0.58%
LNT	A	0.02%	0.07%	0.02%
LOW	A	0.34%	0.71%	0.34%
LW	D	0.03%	0.02%	0.02%
LYB	D	0.18%	0.12%	0.12%
MA	A	0.27%	0.54%	0.27%
MAA	C	0.02%	0.09%	0.02%
MAS	A	0.06%	0.04%	0.04%
MCD	A	0.55%	0.57%	0.55%
MCK	F	0.5%	0.32%	0.32%
MCO	C	0.12%	0.2%	0.12%
MDLZ	C	0.26%	0.28%	0.26%
MET	A	0.32%	0.23%	0.23%
MHK	B	0.01%	0.04%	0.01%
MKC	B	0.06%	0.1%	0.06%
MKTX	C	0.02%	0.05%	0.02%
MLM	D	0.07%	0.06%	0.06%
MMC	D	0.19%	0.25%	0.19%
MMM	B	0.63%	0.35%	0.35%
MNST	D	0.07%	0.07%	0.07%
MO	B	0.66%	0.41%	0.41%
MOS	F	0.01%	0.04%	0.01%
MPC	F	0.36%	0.12%	0.12%
MRK	F	1.0%	0.85%	0.85%
MRO	D	0.03%	0.04%	0.03%
MS	B	0.18%	0.61%	0.18%
MSCI	B	0.06%	0.09%	0.06%
MSI	A	0.18%	0.15%	0.15%
MTB	C	0.03%	0.14%	0.03%
MTD	B	0.1%	0.09%	0.09%
MU	D	0.15%	0.48%	0.15%
NDAQ	C	0.05%	0.15%	0.05%
NDSN	B	0.05%	0.07%	0.05%
NEE	A	0.25%	0.81%	0.25%
NEM	C	0.22%	0.3%	0.22%
NI	A	0.02%	0.07%	0.02%
NKE	D	0.07%	0.28%	0.07%
NOC	B	0.38%	0.35%	0.35%
NRG	A	0.07%	0.09%	0.07%
NSC	B	0.07%	0.27%	0.07%
NTAP	D	0.1%	0.08%	0.08%
NTRS	C	0.03%	0.09%	0.03%
NUE	D	0.08%	0.06%	0.06%
NWSA	D	0.04%	0.05%	0.04%
O	A	0.06%	0.26%	0.06%
OKE	C	0.09%	0.1%	0.09%
OMC	A	0.06%	0.1%	0.06%
ORLY	A	0.19%	0.08%	0.08%
OTIS	A	0.08%	0.11%	0.08%
PARA	F	0.01%	0.03%	0.01%
PAYX	A	0.04%	0.12%	0.04%
PEG	A	0.06%	0.21%	0.06%
PEP	D	0.77%	0.72%	0.72%
PFE	D	0.64%	0.8%	0.64%
PFG	C	0.01%	0.09%	0.01%
PG	C	1.04%	1.2%	1.04%
PGR	C	0.6%	0.36%	0.36%
PH	B	0.13%	0.08%	0.08%
PKG	A	0.07%	0.09%	0.07%
PM	B	0.83%	0.57%	0.57%
PNC	C	0.11%	0.35%	0.11%
PNR	A	0.02%	0.02%	0.02%
PNW	A	0.01%	0.05%	0.01%
POOL	B	0.07%	0.03%	0.03%
PPG	D	0.05%	0.14%	0.05%
PPL	A	0.04%	0.11%	0.04%
PRU	C	0.23%	0.21%	0.21%
PSA	C	0.1%	0.16%	0.1%
PSX	F	0.23%	0.26%	0.23%
PTC	D	0.04%	0.04%	0.04%
PWR	B	0.11%	0.06%	0.06%
PYPL	B	0.11%	0.38%	0.11%
QCOM	D	0.8%	0.43%	0.43%
QRVO	F	0.01%	0.05%	0.01%
REGN	D	0.49%	0.23%	0.23%
RF	C	0.01%	0.1%	0.01%
RL	B	0.03%	0.02%	0.02%
RMD	C	0.17%	0.17%	0.17%
ROL	B	0.07%	0.04%	0.04%
ROP	C	0.06%	0.16%	0.06%
RSG	D	0.13%	0.08%	0.08%
RTX	A	0.23%	0.75%	0.23%
SBAC	B	0.03%	0.07%	0.03%
SBUX	B	0.09%	0.21%	0.09%
SCHW	D	0.04%	0.47%	0.04%
SHW	B	0.22%	0.21%	0.21%
SJM	B	0.04%	0.06%	0.04%
SLB	F	0.01%	0.29%	0.01%
SO	A	0.13%	0.47%	0.13%
SPG	A	0.16%	0.15%	0.15%
SPGI	C	0.27%	0.45%	0.27%
SRE	A	0.08%	0.25%	0.08%
STE	D	0.08%	0.05%	0.05%
STLD	C	0.04%	0.03%	0.03%
STZ	B	0.06%	0.19%	0.06%
SYF	C	0.24%	0.1%	0.1%
SYY	B	0.13%	0.18%	0.13%
T	A	0.74%	0.74%	0.74%
TAP	D	0.08%	0.05%	0.05%
TER	D	0.04%	0.1%	0.04%
TFC	D	0.08%	0.27%	0.08%
TFX	B	0.03%	0.05%	0.03%
TGT	C	0.77%	0.34%	0.34%
TJX	C	0.38%	0.22%	0.22%
TMO	C	0.33%	0.7%	0.33%
TMUS	A	0.38%	0.47%	0.38%
TPR	B	0.01%	0.05%	0.01%
TROW	D	0.08%	0.12%	0.08%
TRV	C	0.2%	0.26%	0.2%
TSCO	A	0.12%	0.08%	0.08%
TSN	D	0.16%	0.08%	0.08%
TTWO	F	0.06%	0.06%	0.06%
TXN	C	0.3%	0.56%	0.3%
UAL	B	0.01%	0.08%	0.01%
UDR	C	0.03%	0.07%	0.03%
UHS	D	0.07%	0.07%	0.07%
ULTA	D	0.04%	0.03%	0.03%
UNH	B	0.79%	1.58%	0.79%
UNP	C	0.54%	0.39%	0.39%
UPS	D	0.25%	0.45%	0.25%
USB	C	0.1%	0.34%	0.1%
V	C	0.28%	0.77%	0.28%
VLO	F	0.16%	0.21%	0.16%
VLTO	C	0.05%	0.13%	0.05%
VRSK	D	0.17%	0.08%	0.08%
VRSN	C	0.04%	0.04%	0.04%
VRTX	D	0.22%	0.21%	0.21%
VTR	B	0.04%	0.12%	0.04%
VTRS	D	0.13%	0.07%	0.07%
VZ	A	1.11%	0.89%	0.89%
WAB	A	0.05%	0.15%	0.05%
WAT	B	0.05%	0.06%	0.05%
WBA	F	0.11%	0.03%	0.03%
WDC	C	0.08%	0.1%	0.08%
WELL	B	0.11%	0.35%	0.11%
WFC	D	0.73%	0.92%	0.73%
WM	D	0.26%	0.19%	0.19%
WMB	A	0.08%	0.16%	0.08%
WMT	A	1.68%	1.64%	1.64%
WRB	B	0.02%	0.08%	0.02%
WTW	A	0.1%	0.14%	0.1%
XOM	B	0.42%	2.45%	0.42%
XYL	B	0.12%	0.16%	0.12%
YUM	B	0.12%	0.09%	0.09%
ZBRA	C	0.02%	0.09%	0.02%
ZTS	B	0.06%	0.19%	0.06%

MFUS Overweight 480 Positions Relative to IVE

Symbol	Grade	Weight
LLY	D	2.87%
META	A	2.37%
AVGO	C	1.68%
NVDA	C	1.64%
AMZN	C	1.6%
ORCL	C	1.38%
AAPL	C	0.97%
AMAT	D	0.59%
NFLX	C	0.46%
BKNG	C	0.36%
NOW	C	0.31%
THC	C	0.29%
KLAC	D	0.28%
ANF	D	0.24%
UBER	C	0.23%
LII	C	0.22%
PANW	D	0.22%
VST	A	0.21%
FICO	C	0.21%
WSM	C	0.21%
WSO	B	0.2%
SFM	A	0.2%
CMG	C	0.2%
LRCX	F	0.19%
UTHR	B	0.18%
TDG	A	0.17%
DECK	C	0.15%
CASY	D	0.15%
MUSA	D	0.15%
BAH	A	0.15%
KKR	C	0.14%
SMCI	F	0.14%
ANET	B	0.14%
IT	C	0.14%
PLTR	C	0.14%
RPM	C	0.12%
PHM	A	0.11%
EVR	C	0.11%
MPWR	C	0.1%
CW	A	0.1%
NVR	A	0.1%
CRS	B	0.1%
GDDY	D	0.1%
AEO	C	0.09%
GPI	C	0.09%
DKS	D	0.09%
TRGP	C	0.09%
ALSN	A	0.09%
LSTR	D	0.09%
EHC	B	0.09%
URI	B	0.09%
HLT	B	0.09%
TMHC	B	0.09%
JXN	B	0.09%
DASH	B	0.09%
CACI	A	0.09%
BWXT	A	0.09%
LPX	A	0.08%
ATR	A	0.08%
EQH	C	0.08%
SLG	C	0.08%
TYL	C	0.08%
CPRT	B	0.08%
RCL	C	0.08%
HRB	C	0.08%
AYI	A	0.08%
ARES	B	0.08%
ITT	B	0.08%
GPK	B	0.08%
NSIT	C	0.07%
R	C	0.07%
TTC	D	0.07%
UFPI	B	0.07%
AN	B	0.07%
MTH	B	0.07%
HCC	D	0.07%
VNO	B	0.07%
BCC	B	0.07%
MLI	B	0.07%
WU	D	0.07%
ALNY	B	0.07%
GLPI	B	0.07%
WCC	C	0.07%
THO	C	0.07%
DHI	B	0.07%
CALM	A	0.07%
SEIC	B	0.07%
HLI	B	0.07%
ABG	D	0.07%
TXRH	B	0.06%
SEE	B	0.06%
BC	C	0.06%
CNX	A	0.06%
COIN	F	0.06%
JLL	B	0.06%
AMG	C	0.06%
FTNT	C	0.06%
TPH	B	0.06%
BERY	C	0.06%
RGA	C	0.06%
PK	D	0.06%
CRI	D	0.06%
MMS	A	0.06%
FCN	B	0.06%
CCK	A	0.06%
CHE	B	0.06%
SCI	C	0.06%
MSM	D	0.06%
INGR	A	0.06%
EXP	C	0.06%
TOL	A	0.06%
ARW	C	0.05%
MHO	A	0.05%
NFG	A	0.05%
CUBE	C	0.05%
URBN	F	0.05%
FANG	F	0.05%
IBKR	A	0.05%
HBI	B	0.05%
SLGN	A	0.05%
USFD	C	0.05%
COOP	C	0.05%
G	A	0.05%
SQ	D	0.05%
ATI	B	0.05%
SEB	D	0.05%
GNTX	F	0.05%
VIRT	C	0.05%
LPLA	D	0.05%
LUMN	C	0.05%
TEX	F	0.05%
WEN	C	0.05%
MTN	D	0.05%
ATGE	C	0.05%
ALLY	F	0.05%
CBT	B	0.05%
NXST	D	0.05%
BTU	B	0.05%
KTB	B	0.05%
FCNCA	D	0.05%
OGN	D	0.05%
APP	B	0.05%
LECO	F	0.05%
GAP	F	0.05%
SKYW	B	0.05%
LAMR	C	0.05%
TW	A	0.05%
POST	B	0.05%
SUI	C	0.05%
FIX	B	0.05%
CMC	C	0.05%
SLM	C	0.05%
LANC	F	0.04%
KBH	C	0.04%
TDS	B	0.04%
NYT	B	0.04%
AVTR	D	0.04%
DBRG	D	0.04%
UNM	A	0.04%
BHF	F	0.04%
AVT	B	0.04%
BLD	C	0.04%
MANH	C	0.04%
CVLT	C	0.04%
TRN	C	0.04%
BDC	B	0.04%
WTM	D	0.04%
JHG	C	0.04%
EXEL	C	0.04%
JWN	D	0.04%
ASO	D	0.04%
CLH	C	0.04%
CMA	C	0.04%
ADBE	F	0.04%
COLD	D	0.04%
SLVM	C	0.04%
NBIX	F	0.04%
PSTG	F	0.04%
SON	D	0.04%
EME	C	0.04%
ELS	D	0.04%
HUBG	D	0.04%
MAC	B	0.04%
AMH	D	0.04%
CPNG	C	0.04%
UHAL	A	0.04%
GATX	D	0.04%
FLEX	B	0.04%
TKR	B	0.04%
MAR	B	0.04%
FLO	C	0.04%
AROC	C	0.04%
TGNA	B	0.04%
FTI	B	0.04%
HEI	C	0.04%
CRBG	C	0.04%
SMG	B	0.04%
ABM	D	0.04%
CNO	C	0.04%
AGNC	C	0.04%
CE	D	0.04%
RS	D	0.04%
KD	F	0.04%
LOPE	D	0.04%
OLN	D	0.04%
RGLD	C	0.04%
FL	F	0.04%
SRCL	B	0.04%
BLDR	B	0.04%
THG	A	0.04%
DCI	B	0.04%
AR	C	0.04%
GVA	B	0.04%
CRUS	D	0.04%
WST	D	0.04%
SIG	C	0.04%
MOG.A	B	0.04%
BKE	C	0.03%
APAM	C	0.03%
NEU	F	0.03%
MTG	B	0.03%
FHI	C	0.03%
PLXS	B	0.03%
KSS	D	0.03%
THS	C	0.03%
DRH	D	0.03%
LNC	D	0.03%
STC	C	0.03%
MSA	D	0.03%
LZB	C	0.03%
HXL	F	0.03%
RYN	C	0.03%
UNF	B	0.03%
WHR	C	0.03%
ADNT	D	0.03%
COKE	B	0.03%
HOG	C	0.03%
XRAY	D	0.03%
XPO	F	0.03%
FNF	A	0.03%
DK	F	0.03%
CPAY	A	0.03%
BKU	D	0.03%
VC	F	0.03%
DDS	D	0.03%
MASI	C	0.03%
RLI	A	0.03%
OI	D	0.03%
GMS	D	0.03%
COHR	B	0.03%
APLE	D	0.03%
MATX	B	0.03%
BURL	D	0.03%
WPC	C	0.03%
HOOD	C	0.03%
X	F	0.03%
PRG	C	0.03%
GNW	C	0.03%
BFAM	C	0.03%
MC	C	0.03%
WH	C	0.03%
GGG	B	0.03%
SM	F	0.03%
AWI	A	0.03%
RPRX	B	0.03%
MAN	D	0.03%
OSK	F	0.03%
GBX	C	0.03%
AVA	B	0.03%
MORN	C	0.03%
MDU	C	0.03%
ACM	B	0.03%
BJ	D	0.03%
AMKR	F	0.03%
DOX	B	0.03%
TPX	B	0.03%
SHOO	A	0.03%
RUSHA	C	0.03%
GEO	F	0.03%
PRIM	C	0.03%
SEM	D	0.03%
SANM	D	0.03%
KEX	C	0.02%
TDC	D	0.02%
GES	F	0.02%
BHE	C	0.02%
PHIN	D	0.02%
DAN	F	0.02%
CWEN	A	0.02%
AXTA	C	0.02%
LAD	B	0.02%
FR	C	0.02%
DNOW	F	0.02%
WAL	C	0.02%
TTEK	B	0.02%
SSNC	C	0.02%
APG	F	0.02%
ODFL	D	0.02%
CROX	C	0.02%
NWL	D	0.02%
VSCO	C	0.02%
HP	F	0.02%
VFC	B	0.02%
SATS	C	0.02%
CSL	A	0.02%
LXP	D	0.02%
JBLU	B	0.02%
ODP	F	0.02%
EWBC	D	0.02%
HNI	B	0.02%
SNDR	C	0.02%
APOG	B	0.02%
LEG	D	0.02%
VSH	F	0.02%
DORM	C	0.02%
ANDE	D	0.02%
RHI	D	0.02%
OSIS	B	0.02%
SAM	D	0.02%
OC	B	0.02%
M	F	0.02%
NAVI	D	0.02%
LNW	F	0.02%
GWRE	A	0.02%
VVV	D	0.02%
MCY	B	0.02%
YELP	F	0.02%
PMT	B	0.02%
CC	D	0.02%
EPC	F	0.02%
BRKR	D	0.02%
NSP	F	0.02%
AGCO	D	0.02%
VSTO	D	0.02%
NTCT	C	0.02%
RLJ	D	0.02%
GHC	B	0.02%
SXT	C	0.02%
DLB	D	0.02%
OHI	C	0.02%
KBR	D	0.02%
XHR	C	0.02%
CXW	F	0.02%
PBF	F	0.02%
PVH	F	0.02%
AIR	D	0.02%
SKX	C	0.02%
HAE	D	0.02%
SBH	B	0.02%
GMED	D	0.02%
KMPR	D	0.02%
PSN	A	0.02%
GEF	C	0.02%
PFSI	C	0.02%
WMS	D	0.02%
PINC	F	0.02%
RRC	D	0.02%
FAF	B	0.02%
PAG	D	0.02%
ACA	C	0.02%
LBRDK	C	0.02%
JEF	B	0.02%
ORA	B	0.02%
OMF	D	0.02%
PDCO	F	0.02%
WERN	D	0.02%
PNM	B	0.02%
CG	C	0.02%
HUN	B	0.01%
AAP	F	0.01%
KNX	C	0.01%
NOV	F	0.01%
SCL	D	0.01%
UHAL	A	0.01%
DINO	F	0.01%
MLKN	F	0.01%
ARCH	D	0.01%
CACC	F	0.01%
KALU	D	0.01%
ACI	F	0.01%
ECPG	F	0.01%
ELAN	D	0.01%
GIII	C	0.01%
SSB	C	0.01%
UVV	C	0.01%
MKSI	F	0.01%
ARI	F	0.01%
HTH	D	0.01%
IGT	F	0.01%
WGO	D	0.01%
PB	D	0.01%
ARMK	B	0.01%
ESI	B	0.01%
CFR	D	0.01%
CNXN	C	0.01%
ALEX	D	0.01%
RDN	D	0.01%
FDP	B	0.01%
OUT	C	0.01%
IMKTA	F	0.01%
CNS	C	0.01%
WOR	F	0.01%
SVC	F	0.01%
IDCC	A	0.01%
SR	A	0.01%
PPC	A	0.01%
RKT	B	0.01%
UGI	C	0.01%
CLF	D	0.01%
SPR	D	0.01%
SWX	C	0.01%
SIGI	D	0.01%
WAFD	D	0.01%
SHO	D	0.01%
CENTA	F	0.01%
PECO	C	0.01%
FHN	D	0.01%
AMED	D	0.01%
JBGS	C	0.01%
FLR	D	0.01%
ESAB	C	0.01%
WMK	D	0.01%
SPB	B	0.01%
JELD	D	0.01%
CBSH	D	0.01%
WTFC	C	0.01%
CADE	D	0.01%
CNM	F	0.01%
ONB	D	0.01%
BRC	C	0.01%
XRX	F	0.01%
DTM	A	0.01%
DXC	D	0.01%
FELE	B	0.01%
STRA	F	0.01%
SAIC	B	0.01%
CSGS	C	0.01%
TTMI	D	0.01%
KN	D	0.01%
DY	C	0.01%
CPRI	C	0.01%
VNT	F	0.01%
CR	C	0.01%
LEA	F	0.01%
WBS	D	0.01%
CVI	F	0.01%
OMI	F	0.01%
SF	A	0.01%
LADR	D	0.01%
NNI	C	0.01%
WWD	B	0.01%
ZION	D	0.01%
AMWD	C	0.01%
GME	D	0.01%
GOLF	F	0.01%
NNN	A	0.01%
RBC	B	0.01%
DEI	A	0.01%
SAH	D	0.01%
SNV	D	0.01%
IOSP	F	0.01%
TNET	F	0.01%
H	C	0.01%
REZI	F	0.01%
ADC	B	0.01%
PTEN	F	0.01%
ICUI	B	0.01%
MUR	F	0.01%
HE	F	0.01%
GT	F	0.01%
AA	C	0.01%
FYBR	C	0.01%
PSMT	B	0.01%
SCS	D	0.01%
ESNT	C	0.01%
LAUR	C	0.01%
BMRN	F	0.01%
SCCO	B	0.0%
NOMD	D	0.0%
WOLF	F	0.0%

MFUS Underweight 107 Positions Relative to IVE

Symbol	Grade	Weight
ABT	C	-0.95%
DIS	D	-0.81%
HON	B	-0.63%
PLD	D	-0.56%
MDT	A	-0.55%
LIN	B	-0.52%
APD	C	-0.31%
FDX	D	-0.28%
ETN	C	-0.24%
BA	F	-0.24%
FI	A	-0.23%
SYK	C	-0.22%
ADI	C	-0.22%
PCG	B	-0.21%
KVUE	C	-0.21%
EQIX	B	-0.21%
DE	A	-0.21%
COR	F	-0.19%
HUM	F	-0.18%
CTSH	C	-0.18%
GEV	A	-0.18%
VICI	C	-0.17%
OXY	F	-0.17%
XEL	A	-0.17%
FCX	B	-0.15%
GPN	F	-0.14%
AWK	C	-0.14%
ABNB	D	-0.14%
WEC	A	-0.14%
STT	C	-0.13%
KEYS	C	-0.13%
TT	A	-0.13%
TEL	D	-0.13%
WY	B	-0.12%
EOG	D	-0.12%
EW	F	-0.12%
FSLR	C	-0.12%
DVN	F	-0.12%
IQV	F	-0.12%
HAL	F	-0.12%
MRNA	F	-0.11%
AEE	A	-0.11%
RJF	B	-0.11%
SW	B	-0.11%
TDY	B	-0.1%
AME	D	-0.1%
EQT	C	-0.1%
ZBH	F	-0.1%
CSGP	F	-0.09%
WBD	D	-0.09%
CNP	B	-0.09%
APTV	D	-0.09%
J	D	-0.09%
LH	D	-0.09%
ARE	D	-0.09%
GPC	D	-0.09%
EL	D	-0.09%
SWK	A	-0.08%
ON	F	-0.08%
TXT	D	-0.08%
EG	B	-0.08%
MCHP	F	-0.08%
LUV	C	-0.08%
BG	D	-0.07%
PCAR	D	-0.07%
TRMB	B	-0.07%
GEN	A	-0.07%
NXPI	F	-0.07%
RVTY	C	-0.07%
DOC	B	-0.07%
ROK	D	-0.07%
SWKS	F	-0.07%
AMCR	A	-0.07%
REG	B	-0.06%
KMX	D	-0.06%
VMC	D	-0.06%
GRMN	D	-0.06%
TECH	B	-0.06%
COO	C	-0.06%
STX	B	-0.06%
DAL	B	-0.06%
GL	C	-0.05%
SOLV	D	-0.05%
ENPH	D	-0.05%
ALB	D	-0.05%
PODD	C	-0.05%
CRL	F	-0.05%
LKQ	F	-0.05%
DXCM	F	-0.05%
ALLE	A	-0.04%
FMC	B	-0.04%
CBOE	B	-0.04%
SNA	B	-0.04%
MOH	D	-0.04%
FRT	B	-0.04%
HAS	A	-0.04%
MTCH	C	-0.04%
LVS	B	-0.03%
CTRA	D	-0.03%
EPAM	F	-0.03%
CF	A	-0.03%
CZR	C	-0.02%
DAY	C	-0.02%
PAYC	D	-0.02%
FOX	A	-0.02%
MGM	D	-0.01%
NWS	D	-0.01%