MFUS vs. IVV ETF Comparison

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

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

$50.22

Average Daily Volume

7,364

Number of Holdings ^*

780

* may have additional holdings in another (foreign) market

IVV

iShares Core S&P 500 ETF

IVV Description

The investment seeks to track the investment results of an index composed of large-capitalization U.S. equities. 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 500® (the "underlying index"), which measures the performance of the large-capitalization sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$574.19

Average Daily Volume

3,741,162

Number of Holdings ^*

502

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	IVV
30 Days	3.10%	2.21%
60 Days	4.82%	4.02%
90 Days	5.74%	4.97%
12 Months	28.93%	31.66%

347 Overlapping Holdings

	Symbol	Grade	Weight in MFUS	Weight in IVV	Overlap
	A	C	0.05%	0.08%	0.05%
	AAPL	C	0.67%	6.77%	0.67%
	ABBV	C	1.34%	0.72%	0.72%
	ACN	C	0.19%	0.46%	0.19%
	ADBE	F	0.04%	0.51%	0.04%
	ADM	D	0.32%	0.06%	0.06%
	ADP	B	0.09%	0.24%	0.09%
	ADSK	C	0.09%	0.12%	0.09%
	AES	C	0.03%	0.03%	0.03%
	AFL	C	0.19%	0.12%	0.12%
	AIG	D	0.42%	0.1%	0.1%
	AIZ	B	0.07%	0.02%	0.02%
	AJG	D	0.09%	0.14%	0.09%
	AKAM	D	0.03%	0.03%	0.03%
	ALGN	D	0.02%	0.04%	0.02%
	ALL	B	0.36%	0.1%	0.1%
	AMAT	D	0.44%	0.33%	0.33%
	AMGN	B	1.03%	0.38%	0.38%
	AMP	A	0.08%	0.09%	0.08%
	AMZN	C	1.27%	3.61%	1.27%
	ANET	B	0.12%	0.19%	0.12%
	ANSS	D	0.05%	0.06%	0.05%
	AON	B	0.19%	0.16%	0.16%
	AOS	D	0.11%	0.02%	0.02%
	APH	D	0.1%	0.16%	0.1%
	AVGO	C	1.34%	1.54%	1.34%
	AVY	C	0.1%	0.04%	0.04%
	AXP	B	0.19%	0.31%	0.19%
	AZO	D	0.3%	0.11%	0.11%
	BAC	D	0.39%	0.56%	0.39%
	BALL	C	0.07%	0.04%	0.04%
	BAX	C	0.04%	0.04%	0.04%
	BBWI	F	0.02%	0.01%	0.01%
	BBY	C	0.24%	0.04%	0.04%
	BDX	D	0.09%	0.14%	0.09%
	BEN	F	0.04%	0.01%	0.01%
	BIIB	F	0.08%	0.06%	0.06%
	BK	B	0.27%	0.11%	0.11%
	BKNG	C	0.47%	0.28%	0.28%
	BKR	C	0.16%	0.07%	0.07%
	BLDR	C	0.04%	0.05%	0.04%
	BMY	C	0.28%	0.21%	0.21%
	BR	D	0.16%	0.05%	0.05%
	BRK.A	C	2.01%	1.71%	1.71%
	BRO	C	0.13%	0.05%	0.05%
	BSX	B	0.19%	0.26%	0.19%
	BWA	D	0.05%	0.02%	0.02%
	BX	B	0.23%	0.23%	0.23%
	BXP	B	0.02%	0.02%	0.02%
	C	C	1.22%	0.23%	0.23%
	CAG	C	0.05%	0.03%	0.03%
	CAH	C	0.35%	0.06%	0.06%
	CARR	B	0.12%	0.14%	0.12%
	CAT	B	0.41%	0.36%	0.36%
	CB	B	0.16%	0.25%	0.16%
	CCL	C	0.05%	0.04%	0.04%
	CDW	D	0.05%	0.06%	0.05%
	CE	F	0.07%	0.03%	0.03%
	CEG	C	0.09%	0.13%	0.09%
	CFG	C	0.06%	0.04%	0.04%
	CHD	D	0.07%	0.05%	0.05%
	CHRW	B	0.09%	0.02%	0.02%
	CHTR	D	0.24%	0.07%	0.07%
	CI	C	0.14%	0.22%	0.14%
	CINF	B	0.02%	0.04%	0.02%
	CL	D	0.33%	0.18%	0.18%
	CLX	C	0.15%	0.04%	0.04%
	CMCSA	D	0.24%	0.33%	0.24%
	CME	C	0.2%	0.17%	0.17%
	CMG	C	0.22%	0.16%	0.16%
	CMI	C	0.11%	0.09%	0.09%
	COF	B	0.42%	0.11%	0.11%
	COP	D	0.3%	0.26%	0.26%
	COST	B	1.21%	0.86%	0.86%
	CPAY	B	0.05%	0.05%	0.05%
	CPB	C	0.01%	0.02%	0.01%
	CPRT	D	0.19%	0.09%	0.09%
	CPT	B	0.06%	0.03%	0.03%
	CRM	D	0.35%	0.52%	0.35%
	CSCO	C	0.42%	0.43%	0.42%
	CSX	D	0.08%	0.14%	0.08%
	CTAS	B	0.18%	0.15%	0.15%
	CTLT	B	0.02%	0.02%	0.02%
	CTRA	D	0.02%	0.04%	0.02%
	CTVA	B	0.03%	0.08%	0.03%
	CVS	D	0.8%	0.15%	0.15%
	CVX	D	0.79%	0.51%	0.51%
	DD	B	0.21%	0.07%	0.07%
	DECK	C	0.17%	0.05%	0.05%
	DFS	B	0.08%	0.07%	0.07%
	DG	F	0.05%	0.04%	0.04%
	DGX	B	0.06%	0.04%	0.04%
	DHR	B	0.27%	0.38%	0.27%
	DLR	B	0.08%	0.11%	0.08%
	DLTR	F	0.02%	0.03%	0.02%
	DOV	B	0.02%	0.05%	0.02%
	DOW	D	0.04%	0.07%	0.04%
	DPZ	F	0.18%	0.03%	0.03%
	DRI	B	0.03%	0.04%	0.03%
	DUK	C	0.13%	0.19%	0.13%
	DVA	B	0.18%	0.02%	0.02%
	EA	D	0.09%	0.07%	0.07%
	EBAY	B	0.34%	0.07%	0.07%
	ECL	B	0.08%	0.13%	0.08%
	EFX	B	0.09%	0.08%	0.08%
	ELV	C	0.08%	0.27%	0.08%
	EMN	B	0.06%	0.03%	0.03%
	EMR	D	0.15%	0.12%	0.12%
	EOG	D	0.11%	0.14%	0.11%
	EQIX	C	0.03%	0.17%	0.03%
	ETN	C	0.18%	0.26%	0.18%
	EVRG	B	0.01%	0.03%	0.01%
	EXC	C	0.12%	0.08%	0.08%
	EXPD	C	0.07%	0.04%	0.04%
	EXR	B	0.07%	0.08%	0.07%
	F	F	0.33%	0.09%	0.09%
	FANG	D	0.04%	0.06%	0.04%
	FAST	C	0.1%	0.08%	0.08%
	FCX	D	0.09%	0.13%	0.09%
	FDS	C	0.05%	0.04%	0.04%
	FFIV	B	0.04%	0.03%	0.03%
	FICO	B	0.22%	0.1%	0.1%
	FIS	B	0.08%	0.1%	0.08%
	FITB	B	0.05%	0.06%	0.05%
	FOXA	B	0.08%	0.02%	0.02%
	FTNT	C	0.06%	0.1%	0.06%
	GD	B	0.17%	0.15%	0.15%
	GDDY	C	0.09%	0.05%	0.05%
	GE	B	1.09%	0.41%	0.41%
	GEHC	C	0.02%	0.08%	0.02%
	GILD	B	0.78%	0.22%	0.22%
	GIS	B	0.11%	0.09%	0.09%
	GLW	C	0.2%	0.07%	0.07%
	GM	C	0.56%	0.11%	0.11%
	GNRC	D	0.04%	0.02%	0.02%
	GOOGL	D	1.17%	1.95%	1.17%
	GPC	D	0.02%	0.04%	0.02%
	GS	C	0.45%	0.33%	0.33%
	GWW	B	0.17%	0.09%	0.09%
	HAL	F	0.04%	0.05%	0.04%
	HBAN	B	0.03%	0.04%	0.03%
	HCA	B	0.13%	0.16%	0.13%
	HD	B	0.39%	0.8%	0.39%
	HIG	B	0.06%	0.07%	0.06%
	HII	D	0.02%	0.02%	0.02%
	HLT	B	0.08%	0.11%	0.08%
	HOLX	B	0.03%	0.04%	0.03%
	HPE	D	0.2%	0.05%	0.05%
	HPQ	D	0.27%	0.06%	0.06%
	HRL	C	0.01%	0.02%	0.01%
	HSIC	C	0.03%	0.02%	0.02%
	HST	C	0.02%	0.03%	0.02%
	HSY	C	0.06%	0.06%	0.06%
	HUBB	B	0.08%	0.05%	0.05%
	HWM	B	0.12%	0.08%	0.08%
	IBM	B	1.32%	0.42%	0.42%
	ICE	C	0.29%	0.2%	0.2%
	IDXX	C	0.06%	0.09%	0.06%
	IEX	D	0.08%	0.03%	0.03%
	IFF	B	0.03%	0.06%	0.03%
	INCY	C	0.01%	0.02%	0.01%
	INTC	F	0.36%	0.18%	0.18%
	INTU	C	0.26%	0.39%	0.26%
	INVH	C	0.06%	0.05%	0.05%
	IP	B	0.12%	0.04%	0.04%
	IPG	C	0.07%	0.02%	0.02%
	IR	C	0.09%	0.08%	0.08%
	IRM	C	0.11%	0.07%	0.07%
	IT	B	0.16%	0.08%	0.08%
	ITW	C	0.08%	0.14%	0.08%
	IVZ	B	0.05%	0.02%	0.02%
	JBHT	D	0.02%	0.03%	0.02%
	JBL	D	0.07%	0.03%	0.03%
	JKHY	B	0.1%	0.03%	0.03%
	JNJ	C	1.03%	0.84%	0.84%
	JNPR	B	0.13%	0.03%	0.03%
	JPM	D	0.9%	1.24%	0.9%
	K	B	0.1%	0.04%	0.04%
	KDP	B	0.06%	0.08%	0.06%
	KEY	B	0.02%	0.03%	0.02%
	KHC	C	0.16%	0.06%	0.06%
	KKR	B	0.13%	0.17%	0.13%
	KLAC	D	0.23%	0.21%	0.21%
	KMB	D	0.16%	0.1%	0.1%
	KMI	B	0.08%	0.09%	0.08%
	KO	C	0.6%	0.58%	0.58%
	KR	C	0.34%	0.08%	0.08%
	L	C	0.08%	0.03%	0.03%
	LDOS	B	0.08%	0.04%	0.04%
	LEN	B	0.08%	0.1%	0.08%
	LHX	C	0.19%	0.09%	0.09%
	LLY	C	2.48%	1.56%	1.56%
	LMT	C	0.52%	0.26%	0.26%
	LOW	B	0.23%	0.31%	0.23%
	LRCX	F	0.27%	0.21%	0.21%
	LVS	D	0.01%	0.03%	0.01%
	LW	D	0.04%	0.02%	0.02%
	LYB	D	0.21%	0.05%	0.05%
	MA	B	0.79%	0.86%	0.79%
	MAR	C	0.11%	0.12%	0.11%
	MAS	B	0.06%	0.04%	0.04%
	MCD	B	0.4%	0.45%	0.4%
	MCK	F	0.51%	0.14%	0.14%
	MCO	B	0.03%	0.16%	0.03%
	MDLZ	B	0.22%	0.21%	0.21%
	MET	B	0.36%	0.1%	0.1%
	META	B	2.02%	2.43%	2.02%
	MHK	C	0.01%	0.02%	0.01%
	MKC	C	0.08%	0.04%	0.04%
	MKTX	C	0.02%	0.02%	0.02%
	MLM	D	0.06%	0.07%	0.06%
	MMC	C	0.19%	0.24%	0.19%
	MMM	B	0.41%	0.16%	0.16%
	MNST	D	0.06%	0.08%	0.06%
	MO	C	0.52%	0.19%	0.19%
	MOH	D	0.03%	0.04%	0.03%
	MOS	F	0.04%	0.02%	0.02%
	MPC	F	0.64%	0.12%	0.12%
	MPWR	C	0.08%	0.09%	0.08%
	MRK	D	0.87%	0.62%	0.62%
	MRO	C	0.1%	0.03%	0.03%
	MSCI	C	0.07%	0.09%	0.07%
	MSI	B	0.15%	0.16%	0.15%
	MTB	B	0.03%	0.06%	0.03%
	MTD	D	0.08%	0.06%	0.06%
	MU	F	0.15%	0.21%	0.15%
	NDAQ	A	0.02%	0.06%	0.02%
	NDSN	C	0.04%	0.03%	0.03%
	NEM	B	0.09%	0.13%	0.09%
	NFLX	B	0.44%	0.63%	0.44%
	NKE	D	0.04%	0.2%	0.04%
	NOC	B	0.23%	0.15%	0.15%
	NOW	B	0.37%	0.38%	0.37%
	NRG	C	0.07%	0.04%	0.04%
	NTAP	D	0.08%	0.05%	0.05%
	NTRS	A	0.02%	0.04%	0.02%
	NUE	F	0.08%	0.07%	0.07%
	NVDA	D	1.6%	6.19%	1.6%
	NVR	B	0.07%	0.06%	0.06%
	NWSA	D	0.06%	0.02%	0.02%
	ODFL	D	0.02%	0.07%	0.02%
	OKE	B	0.08%	0.11%	0.08%
	OMC	B	0.06%	0.04%	0.04%
	ORCL	C	1.13%	0.55%	0.55%
	ORLY	C	0.18%	0.14%	0.14%
	OTIS	C	0.07%	0.08%	0.07%
	PANW	D	0.25%	0.24%	0.24%
	PARA	F	0.02%	0.01%	0.01%
	PAYX	C	0.03%	0.09%	0.03%
	PCAR	D	0.08%	0.11%	0.08%
	PEG	B	0.05%	0.09%	0.05%
	PEP	C	0.62%	0.51%	0.51%
	PFE	C	0.53%	0.35%	0.35%
	PFG	B	0.01%	0.04%	0.01%
	PG	C	0.88%	0.87%	0.87%
	PGR	B	0.5%	0.32%	0.32%
	PH	B	0.13%	0.16%	0.13%
	PHM	B	0.17%	0.06%	0.06%
	PKG	B	0.05%	0.04%	0.04%
	PM	C	0.56%	0.41%	0.41%
	PNC	B	0.1%	0.15%	0.1%
	PNR	B	0.08%	0.03%	0.03%
	POOL	C	0.07%	0.03%	0.03%
	PPG	D	0.04%	0.06%	0.04%
	PRU	C	0.25%	0.09%	0.09%
	PSA	B	0.03%	0.12%	0.03%
	PSX	F	0.54%	0.11%	0.11%
	PTC	D	0.05%	0.04%	0.04%
	PWR	B	0.13%	0.08%	0.08%
	QCOM	D	0.62%	0.4%	0.4%
	QRVO	F	0.01%	0.02%	0.01%
	RCL	B	0.08%	0.08%	0.08%
	REGN	C	0.45%	0.26%	0.26%
	RJF	C	0.01%	0.05%	0.01%
	RL	C	0.04%	0.01%	0.01%
	RMD	C	0.13%	0.08%	0.08%
	ROL	C	0.05%	0.03%	0.03%
	ROP	C	0.06%	0.12%	0.06%
	ROST	C	0.07%	0.11%	0.07%
	RSG	D	0.13%	0.09%	0.09%
	SBAC	C	0.03%	0.06%	0.03%
	SBUX	C	0.06%	0.24%	0.06%
	SCHW	D	0.16%	0.2%	0.16%
	SHW	B	0.21%	0.18%	0.18%
	SJM	C	0.03%	0.03%	0.03%
	SLB	F	0.09%	0.12%	0.09%
	SMCI	F	0.14%	0.05%	0.05%
	SPG	B	0.15%	0.11%	0.11%
	SPGI	B	0.06%	0.35%	0.06%
	STE	C	0.12%	0.05%	0.05%
	STLD	F	0.04%	0.04%	0.04%
	STZ	D	0.04%	0.09%	0.04%
	SYF	C	0.29%	0.04%	0.04%
	SYY	D	0.07%	0.08%	0.07%
	T	C	1.23%	0.33%	0.33%
	TAP	D	0.08%	0.02%	0.02%
	TDG	B	0.15%	0.16%	0.15%
	TER	D	0.03%	0.04%	0.03%
	TFC	C	0.09%	0.12%	0.09%
	TFX	C	0.03%	0.02%	0.02%
	TGT	C	0.68%	0.15%	0.15%
	TJX	B	0.34%	0.29%	0.29%
	TMUS	C	0.31%	0.22%	0.22%
	TPR	C	0.01%	0.02%	0.01%
	TRGP	B	0.13%	0.07%	0.07%
	TROW	D	0.08%	0.05%	0.05%
	TRV	C	0.32%	0.12%	0.12%
	TSCO	C	0.07%	0.06%	0.06%
	TSN	C	0.22%	0.04%	0.04%
	TTWO	C	0.07%	0.05%	0.05%
	TXN	C	0.21%	0.38%	0.21%
	TXT	D	0.03%	0.04%	0.03%
	TYL	C	0.08%	0.05%	0.05%
	UAL	C	0.01%	0.03%	0.01%
	UBER	C	0.21%	0.32%	0.21%
	UDR	C	0.03%	0.03%	0.03%
	UHS	B	0.09%	0.03%	0.03%
	ULTA	D	0.04%	0.04%	0.04%
	UNP	C	0.48%	0.32%	0.32%
	UPS	D	0.19%	0.2%	0.19%
	URI	B	0.09%	0.1%	0.09%
	USB	B	0.11%	0.15%	0.11%
	V	C	0.86%	0.96%	0.86%
	VLO	F	0.54%	0.09%	0.09%
	VMC	D	0.06%	0.07%	0.06%
	VRSK	D	0.2%	0.08%	0.08%
	VRSN	D	0.04%	0.03%	0.03%
	VRTX	D	0.21%	0.26%	0.21%
	VST	C	0.26%	0.06%	0.06%
	VTRS	D	0.13%	0.03%	0.03%
	VZ	B	1.01%	0.39%	0.39%
	WAB	B	0.04%	0.06%	0.04%
	WAT	C	0.05%	0.04%	0.04%
	WBA	F	0.14%	0.01%	0.01%
	WDC	D	0.15%	0.04%	0.04%
	WELL	C	0.12%	0.16%	0.12%
	WFC	D	1.4%	0.39%	0.39%
	WM	D	0.23%	0.16%	0.16%
	WMB	B	0.08%	0.12%	0.08%
	WMT	C	1.87%	0.73%	0.73%
	WRB	C	0.02%	0.04%	0.02%
	WST	D	0.04%	0.05%	0.04%
	WTW	C	0.05%	0.06%	0.05%
	XOM	C	0.99%	1.05%	0.99%
	XYL	C	0.11%	0.07%	0.07%
	YUM	D	0.1%	0.08%	0.08%
	ZTS	C	0.04%	0.18%	0.04%

MFUS Overweight 433 Positions Relative to IVV

	Symbol	Grade	Weight
	THC	A	0.27%
	ANF	D	0.26%
	LII	B	0.23%
	WSM	D	0.21%
	WSO	C	0.2%
	SFM	B	0.19%
	MUSA	D	0.17%
	UTHR	C	0.16%
	CASY	D	0.15%
	BAH	C	0.14%
	EVR	A	0.12%
	RPM	B	0.11%
	GPK	B	0.1%
	TOL	B	0.1%
	APO	C	0.1%
	FTI	D	0.1%
	ALLY	F	0.1%
	UNM	B	0.1%
	CRS	B	0.1%
	GPI	B	0.09%
	ERIE	B	0.09%
	USFD	B	0.09%
	AEO	F	0.09%
	JXN	A	0.09%
	DASH	C	0.09%
	HRB	C	0.09%
	ARES	B	0.09%
	DKS	D	0.09%
	CACI	B	0.09%
	WCC	D	0.08%
	OGN	D	0.08%
	LECO	F	0.08%
	WU	F	0.08%
	HLI	B	0.08%
	MTH	A	0.08%
	ALSN	B	0.08%
	ITT	B	0.08%
	EHC	C	0.08%
	RS	D	0.08%
	LUMN	C	0.08%
	BWXT	D	0.08%
	TMHC	A	0.08%
	AN	D	0.08%
	CW	B	0.08%
	LSTR	D	0.08%
	ABG	D	0.07%
	ARW	C	0.07%
	CMC	D	0.07%
	CALM	A	0.07%
	SLG	B	0.07%
	CCK	A	0.07%
	OSK	F	0.07%
	FCN	D	0.07%
	EQH	C	0.07%
	OC	D	0.07%
	SEIC	C	0.07%
	GAP	F	0.07%
	LPLA	D	0.07%
	ATR	B	0.07%
	GLPI	C	0.07%
	TTC	D	0.07%
	AYI	B	0.07%
	MMS	C	0.06%
	TPX	C	0.06%
	PK	D	0.06%
	BERY	B	0.06%
	KD	D	0.06%
	R	A	0.06%
	VNO	B	0.06%
	MSM	D	0.06%
	HCC	F	0.06%
	KSS	F	0.06%
	CHE	C	0.06%
	BCC	B	0.06%
	BC	C	0.06%
	TEX	F	0.06%
	NSIT	D	0.06%
	X	F	0.06%
	SLM	D	0.06%
	INGR	B	0.06%
	SCI	B	0.06%
	SEE	D	0.06%
	GNTX	F	0.06%
	PBF	F	0.06%
	CRI	D	0.06%
	COIN	F	0.06%
	MLI	A	0.06%
	THO	D	0.06%
	CNX	B	0.06%
	LPX	B	0.06%
	UFPI	C	0.06%
	AMG	C	0.05%
	ATGE	C	0.05%
	CBT	B	0.05%
	CRUS	D	0.05%
	SKYW	C	0.05%
	ATI	C	0.05%
	WEN	C	0.05%
	TKR	D	0.05%
	MUR	F	0.05%
	RGA	C	0.05%
	LNC	D	0.05%
	LAMR	B	0.05%
	LOPE	D	0.05%
	MTN	D	0.05%
	VIRT	C	0.05%
	TW	B	0.05%
	TXRH	C	0.05%
	NYT	C	0.05%
	NXST	D	0.05%
	FCNCA	D	0.05%
	DELL	D	0.05%
	IBKR	B	0.05%
	SANM	D	0.05%
	FL	D	0.05%
	WPC	C	0.05%
	POST	C	0.05%
	FIX	B	0.05%
	URBN	F	0.05%
	G	C	0.05%
	SUI	B	0.05%
	FLEX	C	0.05%
	JLL	B	0.05%
	EXP	B	0.05%
	MHO	B	0.05%
	KTB	B	0.05%
	TPH	C	0.05%
	CMA	B	0.04%
	APLE	D	0.04%
	GEO	F	0.04%
	SAIA	D	0.04%
	OLN	D	0.04%
	HUBG	C	0.04%
	WTM	D	0.04%
	FHI	A	0.04%
	TGNA	D	0.04%
	CRBG	D	0.04%
	COLD	D	0.04%
	GATX	D	0.04%
	VC	F	0.04%
	CNO	B	0.04%
	SON	C	0.04%
	AR	F	0.04%
	XRAY	D	0.04%
	PR	F	0.04%
	AMH	C	0.04%
	HEI	B	0.04%
	RGLD	C	0.04%
	GVA	B	0.04%
	RRC	D	0.04%
	NBIX	F	0.04%
	ENTG	F	0.04%
	PVH	F	0.04%
	GNW	B	0.04%
	PINS	F	0.04%
	ELS	C	0.04%
	MAN	C	0.04%
	SEB	D	0.04%
	ABM	D	0.04%
	AGNC	B	0.04%
	FLO	C	0.04%
	MOG.A	B	0.04%
	DCI	C	0.04%
	MTG	B	0.04%
	BTU	D	0.04%
	HXL	F	0.04%
	THG	B	0.04%
	GGG	C	0.04%
	SRCL	A	0.04%
	KBH	A	0.04%
	ACM	B	0.04%
	WHR	D	0.04%
	BDC	B	0.04%
	LANC	D	0.04%
	SIG	C	0.04%
	SMG	C	0.04%
	NOV	F	0.04%
	AVT	C	0.04%
	M	F	0.04%
	COOP	C	0.04%
	NFG	B	0.04%
	PAG	D	0.04%
	CLH	A	0.04%
	CUBE	B	0.04%
	SLGN	B	0.04%
	MAC	B	0.04%
	NEU	D	0.03%
	SSD	D	0.03%
	OKTA	F	0.03%
	ZION	D	0.03%
	COKE	C	0.03%
	FNF	B	0.03%
	HOOD	C	0.03%
	VVV	D	0.03%
	FR	B	0.03%
	PRG	B	0.03%
	NAVI	C	0.03%
	MC	B	0.03%
	RLI	B	0.03%
	DK	F	0.03%
	BKU	C	0.03%
	BRKR	D	0.03%
	BURL	B	0.03%
	AWI	B	0.03%
	PRIM	B	0.03%
	YELP	F	0.03%
	GBX	C	0.03%
	SM	F	0.03%
	MDU	C	0.03%
	WH	B	0.03%
	HP	F	0.03%
	SHOO	B	0.03%
	DBRG	D	0.03%
	BFAM	C	0.03%
	RUSHA	C	0.03%
	AMKR	F	0.03%
	MORN	C	0.03%
	BJ	D	0.03%
	WTS	C	0.03%
	SBH	B	0.03%
	DLB	D	0.03%
	RPRX	C	0.03%
	HBI	B	0.03%
	LEA	F	0.03%
	TRN	D	0.03%
	AVA	C	0.03%
	PDCO	F	0.03%
	GT	F	0.03%
	MKL	C	0.03%
	BLD	D	0.03%
	MANH	B	0.03%
	EME	B	0.03%
	SEM	D	0.03%
	SLVM	B	0.03%
	TDS	C	0.03%
	ACA	B	0.03%
	JEF	B	0.03%
	FND	C	0.03%
	DINO	F	0.03%
	DOX	C	0.03%
	BHF	F	0.03%
	MSA	D	0.03%
	XPO	D	0.03%
	CVLT	B	0.03%
	VSH	F	0.03%
	APP	C	0.03%
	JHG	B	0.03%
	ASO	C	0.03%
	OMF	D	0.03%
	APG	D	0.03%
	UHAL	A	0.03%
	PSTG	F	0.03%
	GMS	D	0.03%
	AROC	D	0.03%
	CPNG	B	0.03%
	DDS	F	0.03%
	JWN	C	0.03%
	OI	D	0.03%
	AVTR	B	0.03%
	LEG	D	0.02%
	TTEK	C	0.02%
	VFC	C	0.02%
	APOG	B	0.02%
	NWL	C	0.02%
	HNI	C	0.02%
	LXP	B	0.02%
	SNDR	B	0.02%
	ODP	F	0.02%
	ANDE	D	0.02%
	RHI	D	0.02%
	DORM	B	0.02%
	CHDN	C	0.02%
	EWBC	D	0.02%
	OSIS	D	0.02%
	SNAP	F	0.02%
	GES	F	0.02%
	XRX	D	0.02%
	BMRN	F	0.02%
	CC	F	0.02%
	IGT	D	0.02%
	SAM	F	0.02%
	MCY	D	0.02%
	GWRE	A	0.02%
	LBRDK	F	0.02%
	XHR	B	0.02%
	AIT	A	0.02%
	AGCO	D	0.02%
	NTCT	C	0.02%
	AA	D	0.02%
	PMT	C	0.02%
	DXC	C	0.02%
	SXT	C	0.02%
	GHC	B	0.02%
	EPC	F	0.02%
	REZI	D	0.02%
	KBR	D	0.02%
	NSP	F	0.02%
	VSTO	C	0.02%
	PSN	B	0.02%
	WMS	D	0.02%
	FLS	D	0.02%
	RLJ	D	0.02%
	PFSI	C	0.02%
	CG	D	0.02%
	GEF	D	0.02%
	HAE	F	0.02%
	GMED	D	0.02%
	SKX	D	0.02%
	AIR	C	0.02%
	KMPR	D	0.02%
	LNW	B	0.02%
	ORA	C	0.02%
	COHR	C	0.02%
	CXW	F	0.02%
	PLXS	A	0.02%
	APAM	C	0.02%
	CHRD	F	0.02%
	AXTA	B	0.02%
	TDC	F	0.02%
	PNM	B	0.02%
	FAF	B	0.02%
	WERN	D	0.02%
	EXEL	C	0.02%
	DRH	C	0.02%
	PINC	C	0.02%
	LZB	C	0.02%
	MASI	F	0.02%
	VNT	F	0.02%
	SHO	C	0.02%
	STC	B	0.02%
	HOG	C	0.02%
	BKE	B	0.02%
	ADNT	F	0.02%
	UNF	C	0.02%
	RYN	C	0.02%
	NVT	D	0.02%
	THS	C	0.02%
	MATX	B	0.02%
	AAP	F	0.01%
	KNX	C	0.01%
	SCHL	D	0.01%
	UHAL	A	0.01%
	SCL	D	0.01%
	ARCH	F	0.01%
	JAZZ	D	0.01%
	LYFT	D	0.01%
	CACC	F	0.01%
	KALU	F	0.01%
	SCCO	D	0.01%
	ACI	F	0.01%
	SWN	D	0.01%
	ECPG	D	0.01%
	MKSI	F	0.01%
	WGO	D	0.01%
	UVV	D	0.01%
	ESI	D	0.01%
	HELE	D	0.01%
	HPP	D	0.01%
	HUN	D	0.01%
	MTDR	F	0.01%
	MLKN	D	0.01%
	SWX	C	0.01%
	ELAN	D	0.01%
	WOR	D	0.01%
	BECN	D	0.01%
	JELD	D	0.01%
	CNM	F	0.01%
	SYNA	F	0.01%
	ESAB	C	0.01%
	SIGI	D	0.01%
	ARCB	D	0.01%
	CENTA	F	0.01%
	JBGS	C	0.01%
	FLR	D	0.01%
	AMED	C	0.01%
	FHN	D	0.01%
	AFG	B	0.01%
	FELE	C	0.01%
	DTM	B	0.01%
	WAFD	C	0.01%
	SPB	C	0.01%
	WMK	C	0.01%
	BRC	C	0.01%
	DY	B	0.01%
	CADE	C	0.01%
	WTFC	B	0.01%
	KN	D	0.01%
	PECO	B	0.01%
	CR	C	0.01%
	ONB	C	0.01%
	CBSH	C	0.01%
	CBRL	D	0.01%
	CSGS	C	0.01%
	SAIC	C	0.01%
	STRA	F	0.01%
	SF	A	0.01%
	TTMI	D	0.01%
	CPRI	D	0.01%
	CVI	F	0.01%
	DEI	B	0.01%
	AMWD	D	0.01%
	WBS	D	0.01%
	TREX	D	0.01%
	WWD	D	0.01%
	LAUR	C	0.01%
	OMI	D	0.01%
	SAH	D	0.01%
	NNI	B	0.01%
	H	C	0.01%
	RBC	C	0.01%
	LAD	D	0.01%
	IOSP	D	0.01%
	LADR	B	0.01%
	GOLF	D	0.01%
	KEX	C	0.01%
	PSMT	B	0.01%
	TNET	F	0.01%
	CWEN	C	0.01%
	SNV	C	0.01%
	BHE	D	0.01%
	DAN	F	0.01%
	OLLI	C	0.01%
	PTEN	F	0.01%
	ESNT	B	0.01%
	FYBR	C	0.01%
	PHIN	B	0.01%
	SCS	D	0.01%
	DNOW	D	0.01%
	WAL	B	0.01%
	CSL	B	0.01%
	SATS	C	0.01%
	NOMD	B	0.0%
	WOLF	F	0.0%

MFUS Underweight 155 Positions Relative to IVV

	Symbol	Grade	Weight
	MSFT	C	-6.76%
	GOOG	D	-1.63%
	TSLA	C	-1.35%
	UNH	C	-1.16%
	AMD	D	-0.52%
	TMO	B	-0.49%
	LIN	B	-0.48%
	ABT	C	-0.43%
	ISRG	B	-0.37%
	NEE	C	-0.37%
	DIS	D	-0.35%
	RTX	C	-0.33%
	HON	D	-0.28%
	SYK	C	-0.27%
	MS	D	-0.26%
	BLK	B	-0.26%
	MDT	C	-0.25%
	PLD	C	-0.25%
	AMT	C	-0.24%
	ADI	C	-0.24%
	DE	B	-0.22%
	FI	A	-0.22%
	SO	B	-0.21%
	BA	F	-0.19%
	TT	B	-0.17%
	SNPS	D	-0.16%
	CDNS	D	-0.15%
	PYPL	B	-0.15%
	FDX	C	-0.14%
	CRWD	D	-0.13%
	GEV	B	-0.13%
	APD	B	-0.13%
	O	C	-0.12%
	AEP	C	-0.12%
	NSC	C	-0.12%
	DHI	B	-0.12%
	NXPI	F	-0.12%
	CCI	C	-0.11%
	ABNB	D	-0.11%
	SRE	C	-0.11%
	D	C	-0.1%
	JCI	B	-0.1%
	EW	F	-0.09%
	ACGL	C	-0.09%
	MCHP	F	-0.09%
	PCG	C	-0.09%
	IQV	C	-0.09%
	TEL	D	-0.09%
	KVUE	C	-0.09%
	HES	F	-0.08%
	CBRE	A	-0.08%
	ED	C	-0.08%
	CTSH	C	-0.08%
	HUM	F	-0.08%
	AME	C	-0.08%
	COR	D	-0.08%
	CNC	D	-0.08%
	ON	D	-0.07%
	CSGP	D	-0.07%
	EIX	C	-0.07%
	AVB	B	-0.07%
	OXY	F	-0.07%
	VICI	C	-0.07%
	XEL	B	-0.07%
	DTE	C	-0.06%
	KEYS	C	-0.06%
	VTR	C	-0.06%
	GRMN	D	-0.06%
	EQR	B	-0.06%
	AXON	B	-0.06%
	ETR	B	-0.06%
	DXCM	F	-0.06%
	GPN	D	-0.06%
	AWK	B	-0.06%
	DAL	C	-0.06%
	ROK	D	-0.06%
	WEC	C	-0.06%
	LULU	D	-0.06%
	ZBH	F	-0.05%
	COO	B	-0.05%
	CBOE	C	-0.05%
	AEE	C	-0.05%
	MRNA	F	-0.05%
	FE	C	-0.05%
	SW	B	-0.05%
	WY	C	-0.05%
	ES	C	-0.05%
	PPL	C	-0.05%
	VLTO	C	-0.05%
	FSLR	C	-0.05%
	DVN	F	-0.05%
	STT	A	-0.05%
	FTV	C	-0.05%
	EG	C	-0.04%
	LUV	C	-0.04%
	EXPE	C	-0.04%
	ZBRA	B	-0.04%
	CNP	C	-0.04%
	J	C	-0.04%
	LH	C	-0.04%
	APTV	D	-0.04%
	WBD	D	-0.04%
	MAA	B	-0.04%
	ARE	C	-0.04%
	EQT	D	-0.04%
	EL	F	-0.04%
	STX	C	-0.04%
	RF	B	-0.04%
	ESS	B	-0.04%
	TDY	B	-0.04%
	ATO	B	-0.04%
	CMS	C	-0.04%
	REG	C	-0.03%
	ALLE	B	-0.03%
	KMX	D	-0.03%
	BG	D	-0.03%
	TRMB	C	-0.03%
	LYV	B	-0.03%
	CF	C	-0.03%
	GEN	B	-0.03%
	SNA	C	-0.03%
	ENPH	D	-0.03%
	RVTY	B	-0.03%
	NI	B	-0.03%
	LNT	B	-0.03%
	SWK	B	-0.03%
	AMCR	B	-0.03%
	DOC	C	-0.03%
	KIM	C	-0.03%
	PODD	B	-0.03%
	SWKS	D	-0.03%
	WYNN	D	-0.02%
	FMC	C	-0.02%
	PAYC	D	-0.02%
	NCLH	C	-0.02%
	CZR	C	-0.02%
	APA	F	-0.02%
	GL	C	-0.02%
	FRT	C	-0.02%
	HAS	B	-0.02%
	MGM	F	-0.02%
	MTCH	C	-0.02%
	DAY	D	-0.02%
	SOLV	C	-0.02%
	CRL	F	-0.02%
	ALB	D	-0.02%
	PNW	C	-0.02%
	LKQ	F	-0.02%
	EPAM	F	-0.02%
	TECH	C	-0.02%
	NWS	D	-0.01%
	FOX	B	-0.01%
	ETSY	F	-0.01%
	BIO	C	-0.01%
	AAL	D	-0.01%

MFUS: Top Represented Industries & Keywords

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

Keywords: S&P 500 Nasdaq 100 Insurance Chemical Aerospace Computing Mining Natural Gas Electronics Bank Banking Real Estate Investment Trust Telecommunications Transport Building Materials Construction Retailing Beverage Dow Jones Component Plastic

IVV: Top Represented Industries & Keywords

Industries: Diversified Industrials Software - Application Utilities - Regulated Electric Business Services Diagnostics & Research Semiconductors Asset Management Oil & Gas E&P Aerospace & Defense Banks - Regional - US Capital Markets Drug Manufacturers - Major Medical Instruments & Supplies Packaged Foods Specialty Retail Medical Devices Credit Services Health Care Plans Household & Personal Products Information Technology Services

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