MFUS vs. IWR ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to iShares Russell Mid-Cap ETF (IWR)

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

IWR

iShares Russell Mid-Cap ETF

IWR Description

The investment seeks to track the investment results of an index composed of mid-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. The underlying index measures the performance of the mid-capitalization sector of the U.S. equity market. The underlying index is a float-adjusted, capitalization-weighted index of the 800 smallest issuers in the Russell 1000® Index.

Grade (RS Rating)

Last Trade

$87.84

Average Daily Volume

1,162,623

Number of Holdings ^*

801

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	IWR
30 Days	3.10%	4.01%
60 Days	4.82%	5.34%
90 Days	5.74%	8.08%
12 Months	28.93%	25.25%

455 Overlapping Holdings

	Symbol	Grade	Weight in MFUS	Weight in IWR	Overlap
	A	C	0.05%	0.35%	0.05%
	AA	D	0.02%	0.07%	0.02%
	AAP	F	0.01%	0.02%	0.01%
	ACI	F	0.01%	0.07%	0.01%
	ACM	B	0.04%	0.12%	0.04%
	ADM	D	0.32%	0.26%	0.26%
	AES	C	0.03%	0.11%	0.03%
	AFG	B	0.01%	0.09%	0.01%
	AFL	C	0.19%	0.54%	0.19%
	AGCO	D	0.02%	0.05%	0.02%
	AGNC	B	0.04%	0.06%	0.04%
	AIZ	B	0.07%	0.09%	0.07%
	AJG	D	0.09%	0.56%	0.09%
	AKAM	D	0.03%	0.13%	0.03%
	ALGN	D	0.02%	0.16%	0.02%
	ALL	B	0.36%	0.43%	0.36%
	ALLY	F	0.1%	0.08%	0.08%
	ALSN	B	0.08%	0.07%	0.07%
	AMED	C	0.01%	0.03%	0.01%
	AMG	C	0.05%	0.05%	0.05%
	AMH	C	0.04%	0.12%	0.04%
	AMKR	F	0.03%	0.03%	0.03%
	AMP	A	0.08%	0.39%	0.08%
	AN	D	0.08%	0.04%	0.04%
	ANSS	D	0.05%	0.24%	0.05%
	AOS	D	0.11%	0.08%	0.08%
	APG	D	0.03%	0.07%	0.03%
	APP	C	0.03%	0.26%	0.03%
	AR	F	0.04%	0.07%	0.04%
	ARES	B	0.09%	0.23%	0.09%
	ARW	C	0.07%	0.06%	0.06%
	ATI	D	0.05%	0.07%	0.05%
	ATR	B	0.07%	0.09%	0.07%
	AVT	C	0.04%	0.04%	0.04%
	AVTR	B	0.03%	0.16%	0.03%
	AVY	C	0.1%	0.15%	0.1%
	AWI	B	0.03%	0.05%	0.03%
	AXTA	B	0.02%	0.07%	0.02%
	AYI	B	0.07%	0.07%	0.07%
	BAH	C	0.14%	0.18%	0.14%
	BALL	C	0.07%	0.18%	0.07%
	BAX	C	0.04%	0.18%	0.04%
	BBWI	F	0.02%	0.05%	0.02%
	BBY	C	0.24%	0.19%	0.19%
	BC	C	0.06%	0.05%	0.05%
	BEN	F	0.04%	0.05%	0.04%
	BERY	B	0.06%	0.07%	0.06%
	BFAM	C	0.03%	0.07%	0.03%
	BHF	F	0.03%	0.02%	0.02%
	BIIB	F	0.08%	0.25%	0.08%
	BJ	D	0.03%	0.09%	0.03%
	BK	B	0.27%	0.45%	0.27%
	BKR	C	0.16%	0.29%	0.16%
	BLD	D	0.03%	0.11%	0.03%
	BLDR	C	0.04%	0.19%	0.04%
	BMRN	F	0.02%	0.14%	0.02%
	BR	D	0.16%	0.22%	0.16%
	BRKR	D	0.03%	0.06%	0.03%
	BRO	C	0.13%	0.22%	0.13%
	BURL	B	0.03%	0.15%	0.03%
	BWA	D	0.05%	0.07%	0.05%
	BWXT	D	0.08%	0.08%	0.08%
	BXP	B	0.02%	0.11%	0.02%
	CACC	F	0.01%	0.02%	0.01%
	CACI	B	0.09%	0.09%	0.09%
	CAG	C	0.05%	0.13%	0.05%
	CAH	C	0.35%	0.24%	0.24%
	CASY	D	0.15%	0.12%	0.12%
	CBSH	C	0.01%	0.06%	0.01%
	CC	F	0.02%	0.02%	0.02%
	CCK	A	0.07%	0.09%	0.07%
	CCL	C	0.05%	0.15%	0.05%
	CDW	D	0.05%	0.26%	0.05%
	CE	F	0.07%	0.12%	0.07%
	CFG	C	0.06%	0.16%	0.06%
	CG	D	0.02%	0.08%	0.02%
	CHD	D	0.07%	0.22%	0.07%
	CHDN	C	0.02%	0.09%	0.02%
	CHE	C	0.06%	0.07%	0.06%
	CHRD	F	0.02%	0.07%	0.02%
	CHRW	B	0.09%	0.1%	0.09%
	CHTR	D	0.24%	0.28%	0.24%
	CINF	C	0.02%	0.18%	0.02%
	CLH	A	0.04%	0.11%	0.04%
	CLX	C	0.15%	0.18%	0.15%
	CMA	B	0.04%	0.06%	0.04%
	CMI	C	0.11%	0.36%	0.11%
	CNM	F	0.01%	0.06%	0.01%
	COHR	C	0.02%	0.09%	0.02%
	COIN	F	0.06%	0.28%	0.06%
	COKE	C	0.03%	0.07%	0.03%
	COLD	D	0.04%	0.07%	0.04%
	CPAY	B	0.05%	0.19%	0.05%
	CPB	C	0.01%	0.09%	0.01%
	CPNG	B	0.03%	0.24%	0.03%
	CPRI	D	0.01%	0.04%	0.01%
	CPT	B	0.06%	0.11%	0.06%
	CR	C	0.01%	0.07%	0.01%
	CRI	D	0.06%	0.02%	0.02%
	CRUS	D	0.05%	0.06%	0.05%
	CSL	B	0.01%	0.17%	0.01%
	CTLT	B	0.02%	0.09%	0.02%
	CTRA	F	0.02%	0.15%	0.02%
	CTVA	B	0.03%	0.35%	0.03%
	CUBE	C	0.04%	0.11%	0.04%
	CW	B	0.08%	0.11%	0.08%
	CWEN	C	0.01%	0.02%	0.01%
	CWEN	C	0.01%	0.01%	0.01%
	DCI	C	0.04%	0.07%	0.04%
	DD	B	0.21%	0.3%	0.21%
	DDS	F	0.03%	0.01%	0.01%
	DECK	C	0.17%	0.21%	0.17%
	DFS	C	0.08%	0.29%	0.08%
	DG	F	0.05%	0.16%	0.05%
	DGX	B	0.06%	0.15%	0.06%
	DINO	F	0.03%	0.06%	0.03%
	DKS	D	0.09%	0.11%	0.09%
	DLB	F	0.03%	0.04%	0.03%
	DLR	B	0.08%	0.45%	0.08%
	DLTR	F	0.02%	0.12%	0.02%
	DOV	B	0.02%	0.22%	0.02%
	DOW	D	0.04%	0.31%	0.04%
	DOX	C	0.03%	0.09%	0.03%
	DPZ	F	0.18%	0.12%	0.12%
	DRI	B	0.03%	0.17%	0.03%
	DTM	B	0.01%	0.06%	0.01%
	DVA	B	0.18%	0.07%	0.07%
	DXC	C	0.02%	0.03%	0.02%
	EA	D	0.09%	0.34%	0.09%
	EBAY	B	0.34%	0.28%	0.28%
	EFX	B	0.09%	0.33%	0.09%
	EHC	C	0.08%	0.08%	0.08%
	ELAN	D	0.01%	0.06%	0.01%
	ELS	C	0.04%	0.12%	0.04%
	EME	B	0.03%	0.16%	0.03%
	EMN	B	0.06%	0.11%	0.06%
	ENTG	F	0.04%	0.15%	0.04%
	EQH	C	0.07%	0.11%	0.07%
	ESAB	C	0.01%	0.05%	0.01%
	ESI	D	0.01%	0.05%	0.01%
	EVR	A	0.12%	0.08%	0.08%
	EVRG	B	0.01%	0.12%	0.01%
	EWBC	D	0.02%	0.1%	0.02%
	EXC	C	0.12%	0.35%	0.12%
	EXEL	C	0.02%	0.07%	0.02%
	EXP	B	0.05%	0.08%	0.05%
	EXPD	C	0.07%	0.15%	0.07%
	EXR	B	0.07%	0.33%	0.07%
	FAF	B	0.02%	0.06%	0.02%
	FANG	D	0.04%	0.27%	0.04%
	FAST	C	0.1%	0.35%	0.1%
	FCN	D	0.07%	0.07%	0.07%
	FCNCA	D	0.05%	0.19%	0.05%
	FDS	C	0.05%	0.15%	0.05%
	FFIV	B	0.04%	0.11%	0.04%
	FHN	D	0.01%	0.08%	0.01%
	FICO	B	0.22%	0.39%	0.22%
	FIS	B	0.08%	0.41%	0.08%
	FITB	B	0.05%	0.25%	0.05%
	FIX	B	0.05%	0.11%	0.05%
	FLO	C	0.04%	0.04%	0.04%
	FLS	D	0.02%	0.05%	0.02%
	FND	C	0.03%	0.1%	0.03%
	FNF	B	0.03%	0.13%	0.03%
	FOXA	B	0.08%	0.08%	0.08%
	FR	B	0.03%	0.06%	0.03%
	FTI	D	0.1%	0.09%	0.09%
	FYBR	C	0.01%	0.08%	0.01%
	G	C	0.05%	0.06%	0.05%
	GAP	F	0.07%	0.04%	0.04%
	GDDY	C	0.09%	0.19%	0.09%
	GEHC	C	0.02%	0.32%	0.02%
	GGG	C	0.04%	0.12%	0.04%
	GIS	B	0.11%	0.36%	0.11%
	GLPI	C	0.07%	0.12%	0.07%
	GLW	C	0.2%	0.28%	0.2%
	GMED	D	0.02%	0.07%	0.02%
	GNRC	D	0.04%	0.07%	0.04%
	GNTX	F	0.06%	0.06%	0.06%
	GPC	D	0.02%	0.17%	0.02%
	GPK	B	0.1%	0.08%	0.08%
	GWRE	A	0.02%	0.12%	0.02%
	GWW	B	0.17%	0.38%	0.17%
	H	C	0.01%	0.06%	0.01%
	HAL	F	0.04%	0.22%	0.04%
	HBAN	B	0.03%	0.18%	0.03%
	HEI	B	0.04%	0.15%	0.04%
	HEI	B	0.04%	0.1%	0.04%
	HIG	B	0.06%	0.3%	0.06%
	HII	D	0.02%	0.09%	0.02%
	HLI	B	0.08%	0.07%	0.07%
	HLT	B	0.08%	0.47%	0.08%
	HOG	C	0.02%	0.04%	0.02%
	HOLX	C	0.03%	0.16%	0.03%
	HOOD	C	0.03%	0.13%	0.03%
	HPE	D	0.2%	0.19%	0.19%
	HPQ	D	0.27%	0.28%	0.27%
	HRB	C	0.09%	0.08%	0.08%
	HRL	C	0.01%	0.08%	0.01%
	HSIC	C	0.03%	0.08%	0.03%
	HST	C	0.02%	0.11%	0.02%
	HSY	C	0.06%	0.26%	0.06%
	HUBB	B	0.08%	0.19%	0.08%
	HUN	D	0.01%	0.03%	0.01%
	HWM	B	0.12%	0.34%	0.12%
	HXL	F	0.04%	0.04%	0.04%
	IBKR	B	0.05%	0.12%	0.05%
	IDXX	C	0.06%	0.36%	0.06%
	IEX	D	0.08%	0.13%	0.08%
	IFF	B	0.03%	0.23%	0.03%
	INCY	C	0.01%	0.1%	0.01%
	INGR	B	0.06%	0.08%	0.06%
	INVH	C	0.06%	0.2%	0.06%
	IP	B	0.12%	0.15%	0.12%
	IPG	C	0.07%	0.1%	0.07%
	IR	C	0.09%	0.32%	0.09%
	IRM	C	0.11%	0.3%	0.11%
	IT	B	0.16%	0.34%	0.16%
	ITT	B	0.08%	0.1%	0.08%
	IVZ	B	0.05%	0.05%	0.05%
	JAZZ	D	0.01%	0.06%	0.01%
	JBHT	D	0.02%	0.12%	0.02%
	JBL	D	0.07%	0.11%	0.07%
	JEF	B	0.03%	0.09%	0.03%
	JHG	B	0.03%	0.04%	0.03%
	JKHY	B	0.1%	0.11%	0.1%
	JLL	B	0.05%	0.1%	0.05%
	JNPR	B	0.13%	0.11%	0.11%
	JWN	C	0.03%	0.02%	0.02%
	K	B	0.1%	0.18%	0.1%
	KBR	D	0.02%	0.07%	0.02%
	KD	D	0.06%	0.05%	0.05%
	KEX	C	0.01%	0.06%	0.01%
	KEY	B	0.02%	0.13%	0.02%
	KMI	B	0.08%	0.36%	0.08%
	KMPR	D	0.02%	0.03%	0.02%
	KNX	C	0.01%	0.07%	0.01%
	KR	C	0.34%	0.32%	0.32%
	KSS	F	0.06%	0.02%	0.02%
	L	C	0.08%	0.13%	0.08%
	LAD	D	0.01%	0.07%	0.01%
	LAMR	B	0.05%	0.1%	0.05%
	LBRDK	F	0.02%	0.06%	0.02%
	LDOS	B	0.08%	0.18%	0.08%
	LEA	F	0.03%	0.05%	0.03%
	LECO	F	0.08%	0.09%	0.08%
	LEG	D	0.02%	0.01%	0.01%
	LEN	B	0.08%	0.02%	0.02%
	LEN	B	0.08%	0.39%	0.08%
	LHX	C	0.19%	0.38%	0.19%
	LII	B	0.23%	0.17%	0.17%
	LNC	D	0.05%	0.04%	0.04%
	LNW	B	0.02%	0.09%	0.02%
	LOPE	D	0.05%	0.04%	0.04%
	LPLA	D	0.07%	0.13%	0.07%
	LPX	B	0.06%	0.06%	0.06%
	LSTR	D	0.08%	0.06%	0.06%
	LVS	D	0.01%	0.13%	0.01%
	LW	D	0.04%	0.08%	0.04%
	LYB	D	0.21%	0.21%	0.21%
	LYFT	D	0.01%	0.04%	0.01%
	M	F	0.04%	0.04%	0.04%
	MAN	C	0.04%	0.03%	0.03%
	MANH	B	0.03%	0.14%	0.03%
	MAS	B	0.06%	0.15%	0.06%
	MASI	F	0.02%	0.04%	0.02%
	MDU	C	0.03%	0.05%	0.03%
	MHK	C	0.01%	0.07%	0.01%
	MKC	C	0.08%	0.18%	0.08%
	MKL	C	0.03%	0.18%	0.03%
	MKSI	F	0.01%	0.07%	0.01%
	MKTX	C	0.02%	0.08%	0.02%
	MLM	D	0.06%	0.28%	0.06%
	MOH	D	0.03%	0.18%	0.03%
	MORN	C	0.03%	0.07%	0.03%
	MOS	F	0.04%	0.07%	0.04%
	MPWR	C	0.08%	0.38%	0.08%
	MRO	D	0.1%	0.13%	0.1%
	MSA	D	0.03%	0.06%	0.03%
	MSCI	C	0.07%	0.38%	0.07%
	MSM	D	0.06%	0.03%	0.03%
	MTB	B	0.03%	0.25%	0.03%
	MTD	D	0.08%	0.25%	0.08%
	MTDR	F	0.01%	0.05%	0.01%
	MTG	B	0.04%	0.06%	0.04%
	MTN	D	0.05%	0.06%	0.05%
	MUSA	D	0.17%	0.09%	0.09%
	NBIX	F	0.04%	0.11%	0.04%
	NDAQ	A	0.02%	0.26%	0.02%
	NDSN	C	0.04%	0.12%	0.04%
	NEU	D	0.03%	0.03%	0.03%
	NFG	B	0.04%	0.05%	0.04%
	NOV	F	0.04%	0.05%	0.04%
	NRG	C	0.07%	0.15%	0.07%
	NTAP	D	0.08%	0.21%	0.08%
	NTRS	A	0.02%	0.16%	0.02%
	NUE	F	0.08%	0.3%	0.08%
	NVR	B	0.07%	0.24%	0.07%
	NVT	D	0.02%	0.1%	0.02%
	NWL	C	0.02%	0.03%	0.02%
	NWSA	D	0.06%	0.09%	0.06%
	NXST	D	0.05%	0.05%	0.05%
	NYT	C	0.05%	0.07%	0.05%
	OC	D	0.07%	0.13%	0.07%
	ODFL	D	0.02%	0.33%	0.02%
	OGN	D	0.08%	0.05%	0.05%
	OKE	B	0.08%	0.47%	0.08%
	OKTA	F	0.03%	0.1%	0.03%
	OLLI	C	0.01%	0.05%	0.01%
	OLN	D	0.04%	0.05%	0.04%
	OMC	B	0.06%	0.17%	0.06%
	OMF	D	0.03%	0.05%	0.03%
	OSK	F	0.07%	0.06%	0.06%
	OTIS	C	0.07%	0.33%	0.07%
	PAG	D	0.04%	0.03%	0.03%
	PARA	F	0.02%	0.05%	0.02%
	PAYX	C	0.03%	0.38%	0.03%
	PEG	C	0.05%	0.37%	0.05%
	PFG	B	0.01%	0.17%	0.01%
	PHM	B	0.17%	0.26%	0.17%
	PINC	C	0.02%	0.02%	0.02%
	PINS	F	0.04%	0.15%	0.04%
	PK	D	0.06%	0.03%	0.03%
	PKG	B	0.05%	0.16%	0.05%
	PNR	B	0.08%	0.13%	0.08%
	POOL	C	0.07%	0.12%	0.07%
	POST	C	0.05%	0.05%	0.05%
	PPG	D	0.04%	0.26%	0.04%
	PR	F	0.04%	0.07%	0.04%
	PRU	C	0.25%	0.37%	0.25%
	PSN	B	0.02%	0.04%	0.02%
	PSTG	F	0.03%	0.12%	0.03%
	PTC	D	0.05%	0.18%	0.05%
	PVH	F	0.04%	0.05%	0.04%
	PWR	B	0.13%	0.34%	0.13%
	QRVO	F	0.01%	0.09%	0.01%
	R	A	0.06%	0.05%	0.05%
	RBC	C	0.01%	0.07%	0.01%
	RCL	B	0.08%	0.35%	0.08%
	RGA	C	0.05%	0.12%	0.05%
	RGLD	C	0.04%	0.08%	0.04%
	RHI	D	0.02%	0.06%	0.02%
	RJF	C	0.01%	0.2%	0.01%
	RL	C	0.04%	0.06%	0.04%
	RLI	B	0.03%	0.06%	0.03%
	RMD	C	0.13%	0.32%	0.13%
	ROL	C	0.05%	0.12%	0.05%
	ROST	C	0.07%	0.45%	0.07%
	RPM	B	0.11%	0.13%	0.11%
	RPRX	C	0.03%	0.09%	0.03%
	RRC	D	0.04%	0.06%	0.04%
	RS	D	0.08%	0.14%	0.08%
	RYN	C	0.02%	0.04%	0.02%
	SAIA	D	0.04%	0.1%	0.04%
	SAIC	C	0.01%	0.06%	0.01%
	SAM	F	0.02%	0.02%	0.02%
	SBAC	C	0.03%	0.23%	0.03%
	SCI	B	0.06%	0.1%	0.06%
	SEB	D	0.04%	0.01%	0.01%
	SEE	D	0.06%	0.04%	0.04%
	SEIC	C	0.07%	0.06%	0.06%
	SF	A	0.01%	0.08%	0.01%
	SJM	C	0.03%	0.11%	0.03%
	SKX	D	0.02%	0.08%	0.02%
	SLGN	B	0.04%	0.04%	0.04%
	SLM	D	0.06%	0.04%	0.04%
	SMCI	F	0.14%	0.2%	0.14%
	SMG	C	0.04%	0.03%	0.03%
	SNDR	B	0.02%	0.01%	0.01%
	SNV	C	0.01%	0.06%	0.01%
	SON	C	0.04%	0.05%	0.04%
	SPB	C	0.01%	0.02%	0.01%
	SPG	B	0.15%	0.46%	0.15%
	SRCL	A	0.04%	0.05%	0.04%
	SSD	D	0.03%	0.07%	0.03%
	STE	C	0.12%	0.21%	0.12%
	STLD	F	0.04%	0.15%	0.04%
	SUI	B	0.05%	0.16%	0.05%
	SWN	D	0.01%	0.06%	0.01%
	SYF	C	0.29%	0.17%	0.17%
	SYY	D	0.07%	0.33%	0.07%
	TAP	D	0.08%	0.08%	0.08%
	TDC	F	0.02%	0.02%	0.02%
	TER	D	0.03%	0.18%	0.03%
	TFX	C	0.03%	0.1%	0.03%
	THC	A	0.27%	0.14%	0.14%
	THG	B	0.04%	0.05%	0.04%
	THO	D	0.06%	0.05%	0.05%
	TKR	D	0.05%	0.04%	0.04%
	TOL	B	0.1%	0.14%	0.1%
	TPR	C	0.01%	0.09%	0.01%
	TPX	C	0.06%	0.08%	0.06%
	TREX	D	0.01%	0.06%	0.01%
	TRGP	B	0.13%	0.28%	0.13%
	TROW	D	0.08%	0.2%	0.08%
	TSCO	C	0.07%	0.27%	0.07%
	TSN	C	0.22%	0.15%	0.15%
	TTC	D	0.07%	0.08%	0.07%
	TTEK	C	0.02%	0.11%	0.02%
	TTWO	C	0.07%	0.22%	0.07%
	TW	B	0.05%	0.12%	0.05%
	TXRH	C	0.05%	0.1%	0.05%
	TXT	D	0.03%	0.15%	0.03%
	TYL	C	0.08%	0.22%	0.08%
	UAL	C	0.01%	0.14%	0.01%
	UDR	C	0.03%	0.13%	0.03%
	UHAL	A	0.03%	0.06%	0.03%
	UHAL	A	0.03%	0.0%	0.0%
	UHAL	A	0.01%	0.06%	0.01%
	UHAL	A	0.01%	0.0%	0.0%
	UHS	B	0.09%	0.12%	0.09%
	ULTA	D	0.04%	0.16%	0.04%
	UNM	B	0.1%	0.07%	0.07%
	URI	B	0.09%	0.42%	0.09%
	USFD	B	0.09%	0.12%	0.09%
	UTHR	C	0.16%	0.13%	0.13%
	VFC	C	0.02%	0.06%	0.02%
	VIRT	C	0.05%	0.02%	0.02%
	VMC	D	0.06%	0.27%	0.06%
	VNO	C	0.06%	0.06%	0.06%
	VNT	F	0.02%	0.05%	0.02%
	VRSK	D	0.2%	0.33%	0.2%
	VRSN	D	0.04%	0.14%	0.04%
	VST	C	0.26%	0.26%	0.26%
	VTRS	D	0.13%	0.12%	0.12%
	VVV	D	0.03%	0.05%	0.03%
	WAB	A	0.04%	0.26%	0.04%
	WAL	B	0.01%	0.08%	0.01%
	WAT	C	0.05%	0.17%	0.05%
	WBA	F	0.14%	0.06%	0.06%
	WBS	D	0.01%	0.07%	0.01%
	WCC	D	0.08%	0.06%	0.06%
	WDC	D	0.15%	0.19%	0.15%
	WEN	C	0.05%	0.03%	0.03%
	WH	B	0.03%	0.05%	0.03%
	WHR	D	0.04%	0.05%	0.04%
	WMB	B	0.08%	0.48%	0.08%
	WMS	D	0.02%	0.09%	0.02%
	WOLF	F	0.0%	0.01%	0.0%
	WPC	C	0.05%	0.12%	0.05%
	WRB	C	0.02%	0.16%	0.02%
	WSM	D	0.21%	0.16%	0.16%
	WSO	C	0.2%	0.14%	0.14%
	WST	D	0.04%	0.19%	0.04%
	WTFC	C	0.01%	0.06%	0.01%
	WTM	D	0.04%	0.04%	0.04%
	WTW	C	0.05%	0.26%	0.05%
	WU	F	0.08%	0.03%	0.03%
	WWD	D	0.01%	0.09%	0.01%
	X	F	0.06%	0.07%	0.06%
	XPO	D	0.03%	0.11%	0.03%
	XRAY	D	0.04%	0.05%	0.04%
	XYL	D	0.11%	0.28%	0.11%
	YUM	D	0.1%	0.33%	0.1%
	ZION	D	0.03%	0.06%	0.03%

MFUS Overweight 330 Positions Relative to IWR

	Symbol	Grade	Weight
	LLY	C	2.48%
	META	B	2.02%
	BRK.A	C	2.01%
	WMT	C	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	C	1.23%
	C	D	1.22%
	COST	B	1.21%
	GOOGL	D	1.17%
	ORCL	C	1.13%
	GE	B	1.09%
	JNJ	C	1.03%
	AMGN	B	1.03%
	VZ	B	1.01%
	XOM	C	0.99%
	JPM	D	0.9%
	PG	C	0.88%
	MRK	D	0.87%
	V	C	0.86%
	CVS	D	0.8%
	MA	B	0.79%
	CVX	D	0.79%
	GILD	B	0.78%
	TGT	C	0.68%
	AAPL	C	0.67%
	MPC	F	0.64%
	PEP	C	0.62%
	QCOM	D	0.62%
	KO	C	0.6%
	PM	C	0.56%
	GM	C	0.56%
	VLO	F	0.54%
	PSX	F	0.54%
	PFE	C	0.53%
	MO	C	0.52%
	LMT	C	0.52%
	MCK	F	0.51%
	PGR	B	0.5%
	UNP	C	0.48%
	BKNG	C	0.47%
	GS	C	0.45%
	REGN	C	0.45%
	NFLX	B	0.44%
	AMAT	D	0.44%
	AIG	D	0.42%
	CSCO	C	0.42%
	COF	B	0.42%
	MMM	B	0.41%
	CAT	B	0.41%
	MCD	B	0.4%
	BAC	D	0.39%
	HD	B	0.39%
	NOW	B	0.37%
	MET	B	0.36%
	INTC	F	0.36%
	CRM	D	0.35%
	TJX	B	0.34%
	CL	D	0.33%
	F	F	0.33%
	TRV	C	0.32%
	TMUS	C	0.31%
	AZO	D	0.3%
	COP	D	0.3%
	ICE	C	0.29%
	BMY	C	0.28%
	DHR	B	0.27%
	LRCX	F	0.27%
	INTU	C	0.26%
	ANF	D	0.26%
	PANW	D	0.25%
	CMCSA	D	0.24%
	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%
	SHW	B	0.21%
	TXN	C	0.21%
	UBER	C	0.21%
	VRTX	D	0.21%
	CME	C	0.2%
	UPS	D	0.19%
	BSX	B	0.19%
	AXP	B	0.19%
	MMC	C	0.19%
	ACN	C	0.19%
	CPRT	D	0.19%
	SFM	B	0.19%
	AON	B	0.19%
	CTAS	B	0.18%
	ETN	C	0.18%
	ORLY	C	0.18%
	GD	B	0.17%
	CB	B	0.16%
	KHC	C	0.16%
	KMB	D	0.16%
	SCHW	D	0.16%
	MU	F	0.15%
	EMR	D	0.15%
	MSI	B	0.15%
	TDG	B	0.15%
	CI	C	0.14%
	KKR	B	0.13%
	RSG	D	0.13%
	PH	B	0.13%
	DUK	C	0.13%
	HCA	B	0.13%
	WELL	C	0.12%
	CARR	B	0.12%
	ANET	B	0.12%
	EOG	D	0.11%
	USB	B	0.11%
	MAR	C	0.11%
	PNC	B	0.1%
	APH	D	0.1%
	APO	C	0.1%
	CRS	B	0.1%
	GPI	B	0.09%
	ERIE	B	0.09%
	AEO	F	0.09%
	ADSK	C	0.09%
	ADP	B	0.09%
	SLB	F	0.09%
	JXN	A	0.09%
	BDX	D	0.09%
	TFC	C	0.09%
	DASH	C	0.09%
	FCX	D	0.09%
	CEG	C	0.09%
	NEM	B	0.09%
	MTH	A	0.08%
	PCAR	D	0.08%
	ECL	B	0.08%
	LUMN	C	0.08%
	ITW	C	0.08%
	TMHC	A	0.08%
	ELV	C	0.08%
	CSX	D	0.08%
	ABG	D	0.07%
	CMC	D	0.07%
	CALM	A	0.07%
	SLG	C	0.07%
	MMS	C	0.06%
	MNST	D	0.06%
	SBUX	C	0.06%
	HCC	F	0.06%
	FTNT	C	0.06%
	BCC	C	0.06%
	TEX	F	0.06%
	NSIT	D	0.06%
	ROP	C	0.06%
	SPGI	B	0.06%
	PBF	F	0.06%
	MLI	B	0.06%
	CNX	B	0.06%
	KDP	B	0.06%
	UFPI	C	0.06%
	ATGE	D	0.05%
	CBT	B	0.05%
	SKYW	C	0.05%
	MUR	F	0.05%
	DELL	D	0.05%
	SANM	D	0.05%
	FL	D	0.05%
	URBN	F	0.05%
	FLEX	C	0.05%
	MHO	B	0.05%
	KTB	B	0.05%
	TPH	C	0.05%
	APLE	D	0.04%
	GEO	F	0.04%
	HUBG	C	0.04%
	FHI	A	0.04%
	TGNA	D	0.04%
	CRBG	D	0.04%
	GATX	D	0.04%
	VC	F	0.04%
	CNO	B	0.04%
	GVA	B	0.04%
	GNW	B	0.04%
	ABM	D	0.04%
	MOG.A	B	0.04%
	ADBE	F	0.04%
	BTU	D	0.04%
	ZTS	C	0.04%
	KBH	A	0.04%
	BDC	B	0.04%
	NKE	D	0.04%
	LANC	D	0.04%
	STZ	D	0.04%
	SIG	C	0.04%
	COOP	C	0.04%
	MAC	B	0.04%
	PRG	A	0.03%
	NAVI	C	0.03%
	MC	B	0.03%
	DK	F	0.03%
	BKU	C	0.03%
	PRIM	B	0.03%
	YELP	F	0.03%
	GBX	C	0.03%
	SM	F	0.03%
	HP	F	0.03%
	SHOO	B	0.03%
	DBRG	D	0.03%
	RUSHA	C	0.03%
	EQIX	C	0.03%
	WTS	C	0.03%
	SBH	B	0.03%
	MCO	B	0.03%
	HBI	B	0.03%
	TRN	D	0.03%
	AVA	C	0.03%
	PDCO	F	0.03%
	GT	F	0.03%
	SEM	D	0.03%
	SLVM	B	0.03%
	TDS	C	0.03%
	ACA	B	0.03%
	CVLT	B	0.03%
	VSH	F	0.03%
	ASO	C	0.03%
	GMS	D	0.03%
	AROC	D	0.03%
	PSA	B	0.03%
	OI	D	0.03%
	APOG	B	0.02%
	HNI	C	0.02%
	LXP	B	0.02%
	ODP	F	0.02%
	ANDE	D	0.02%
	DORM	B	0.02%
	OSIS	D	0.02%
	SNAP	F	0.02%
	GES	F	0.02%
	XRX	D	0.02%
	IGT	D	0.02%
	MCY	D	0.02%
	XHR	B	0.02%
	AIT	A	0.02%
	NTCT	C	0.02%
	PMT	C	0.02%
	SXT	C	0.02%
	GHC	B	0.02%
	EPC	F	0.02%
	REZI	D	0.02%
	NSP	F	0.02%
	VSTO	C	0.02%
	RLJ	D	0.02%
	PFSI	C	0.02%
	GEF	D	0.02%
	HAE	F	0.02%
	AIR	C	0.02%
	ORA	C	0.02%
	CXW	F	0.02%
	PLXS	A	0.02%
	APAM	C	0.02%
	PNM	B	0.02%
	WERN	D	0.02%
	DRH	C	0.02%
	LZB	C	0.02%
	SHO	C	0.02%
	STC	B	0.02%
	BKE	B	0.02%
	ADNT	F	0.02%
	UNF	C	0.02%
	THS	C	0.02%
	MATX	B	0.02%
	SCHL	D	0.01%
	SCL	F	0.01%
	ARCH	F	0.01%
	KALU	F	0.01%
	SCCO	D	0.01%
	ECPG	D	0.01%
	WGO	D	0.01%
	UVV	D	0.01%
	HELE	D	0.01%
	HPP	D	0.01%
	MLKN	D	0.01%
	SWX	C	0.01%
	WOR	D	0.01%
	BECN	D	0.01%
	JELD	D	0.01%
	SYNA	F	0.01%
	SIGI	D	0.01%
	ARCB	D	0.01%
	CENTA	F	0.01%
	JBGS	C	0.01%
	FLR	D	0.01%
	FELE	C	0.01%
	WAFD	C	0.01%
	WMK	C	0.01%
	BRC	C	0.01%
	DY	B	0.01%
	CADE	C	0.01%
	KN	D	0.01%
	PECO	B	0.01%
	ONB	C	0.01%
	CBRL	D	0.01%
	CSGS	C	0.01%
	STRA	F	0.01%
	TTMI	D	0.01%
	CVI	F	0.01%
	DEI	B	0.01%
	AMWD	D	0.01%
	LAUR	C	0.01%
	OMI	D	0.01%
	SAH	D	0.01%
	NNI	B	0.01%
	IOSP	D	0.01%
	LADR	C	0.01%
	GOLF	D	0.01%
	PSMT	B	0.01%
	TNET	F	0.01%
	BHE	D	0.01%
	DAN	F	0.01%
	PTEN	F	0.01%
	ESNT	B	0.01%
	PHIN	B	0.01%
	SCS	D	0.01%
	DNOW	D	0.01%
	SATS	C	0.01%
	NOMD	B	0.0%

MFUS Underweight 348 Positions Relative to IWR

	Symbol	Grade	Weight
	PLTR	B	-0.63%
	DHI	B	-0.5%
	O	C	-0.47%
	CCI	C	-0.45%
	TTD	B	-0.41%
	KVUE	C	-0.39%
	IQV	C	-0.38%
	PCG	C	-0.37%
	LNG	C	-0.36%
	MCHP	F	-0.36%
	CNC	D	-0.35%
	COR	D	-0.35%
	ACGL	C	-0.35%
	CTSH	C	-0.34%
	AME	C	-0.34%
	HUM	F	-0.34%
	FERG	D	-0.34%
	ED	C	-0.32%
	CBRE	A	-0.32%
	VICI	C	-0.31%
	XEL	B	-0.31%
	SQ	D	-0.31%
	HES	F	-0.31%
	DDOG	D	-0.29%
	AVB	B	-0.29%
	ALNY	C	-0.29%
	CSGP	D	-0.28%
	VEEV	C	-0.28%
	EIX	C	-0.28%
	VRT	C	-0.27%
	ON	D	-0.27%
	EQR	B	-0.26%
	ROK	D	-0.26%
	WEC	C	-0.26%
	GPN	D	-0.25%
	AWK	B	-0.25%
	DAL	C	-0.25%
	VLTO	C	-0.24%
	AXON	B	-0.24%
	ETR	B	-0.24%
	DXCM	F	-0.24%
	FTV	C	-0.23%
	DTE	C	-0.23%
	KEYS	C	-0.23%
	VTR	C	-0.23%
	GRMN	D	-0.23%
	DVN	F	-0.22%
	STT	B	-0.22%
	FE	C	-0.22%
	NET	D	-0.21%
	WY	C	-0.21%
	ES	C	-0.21%
	PPL	C	-0.21%
	HUBS	D	-0.21%
	FSLR	C	-0.21%
	AEE	C	-0.2%
	RBLX	B	-0.2%
	ARE	C	-0.19%
	COO	B	-0.19%
	ZBH	F	-0.19%
	CBOE	C	-0.19%
	MSTR	D	-0.19%
	ESS	B	-0.18%
	TDY	B	-0.18%
	RF	B	-0.18%
	ILMN	C	-0.18%
	ATO	B	-0.18%
	WBD	D	-0.18%
	CMS	C	-0.18%
	MAA	B	-0.17%
	TRU	B	-0.17%
	EQT	D	-0.17%
	MDB	D	-0.17%
	J	C	-0.16%
	LH	C	-0.16%
	APTV	D	-0.16%
	EG	C	-0.15%
	DKNG	C	-0.15%
	ZM	C	-0.15%
	EXPE	C	-0.15%
	LUV	C	-0.15%
	ZBRA	B	-0.15%
	CNP	C	-0.15%
	FWONK	C	-0.14%
	ZS	F	-0.14%
	SWK	B	-0.14%
	LYV	B	-0.14%
	AMCR	B	-0.14%
	KIM	C	-0.14%
	DOC	C	-0.14%
	SSNC	B	-0.14%
	PODD	B	-0.14%
	SWKS	D	-0.14%
	NTRA	C	-0.13%
	NTNX	C	-0.13%
	SNA	C	-0.13%
	ENPH	D	-0.13%
	CF	C	-0.13%
	CVNA	B	-0.13%
	GEN	B	-0.13%
	RVTY	B	-0.13%
	TPL	B	-0.13%
	NI	B	-0.13%
	LNT	B	-0.13%
	DT	C	-0.12%
	RNR	C	-0.12%
	BG	D	-0.12%
	TRMB	C	-0.12%
	REG	C	-0.12%
	ALLE	B	-0.11%
	KMX	D	-0.11%
	REXR	C	-0.1%
	LKQ	F	-0.1%
	RIVN	F	-0.1%
	EPAM	F	-0.1%
	SRPT	D	-0.1%
	PFGC	B	-0.1%
	DOCU	C	-0.1%
	SW	B	-0.1%
	TECH	C	-0.1%
	WING	B	-0.1%
	TOST	C	-0.1%
	EXAS	C	-0.1%
	OLED	C	-0.09%
	GL	C	-0.09%
	WTRG	D	-0.09%
	ARMK	B	-0.09%
	OHI	B	-0.09%
	AFRM	C	-0.09%
	CRL	F	-0.09%
	KNSL	C	-0.09%
	ALB	D	-0.09%
	NLY	B	-0.09%
	RRX	C	-0.09%
	PNW	C	-0.09%
	TWLO	D	-0.09%
	FBIN	B	-0.09%
	OVV	F	-0.09%
	PAYC	D	-0.08%
	APA	F	-0.08%
	DAY	D	-0.08%
	OWL	C	-0.08%
	MGM	F	-0.08%
	NNN	C	-0.08%
	MEDP	F	-0.08%
	EGP	B	-0.08%
	PRI	B	-0.08%
	ORI	B	-0.08%
	CNH	D	-0.08%
	TKO	B	-0.08%
	MTCH	C	-0.08%
	CAVA	B	-0.08%
	ROKU	C	-0.08%
	Z	B	-0.08%
	HAS	B	-0.08%
	FRT	C	-0.08%
	ONTO	D	-0.08%
	SOLV	C	-0.08%
	CHK	D	-0.08%
	ADC	C	-0.07%
	BRBR	C	-0.07%
	VOYA	B	-0.07%
	CROX	D	-0.07%
	ITCI	D	-0.07%
	RGEN	D	-0.07%
	FMC	C	-0.07%
	SOFI	C	-0.07%
	WYNN	D	-0.07%
	CIEN	C	-0.07%
	OGE	C	-0.07%
	NCLH	C	-0.07%
	GLOB	D	-0.07%
	WEX	C	-0.07%
	DUOL	B	-0.07%
	CZR	C	-0.07%
	BRX	B	-0.07%
	SNX	D	-0.07%
	BIO	C	-0.06%
	STWD	A	-0.06%
	CART	A	-0.06%
	AZEK	C	-0.06%
	AAON	B	-0.06%
	GTLB	D	-0.06%
	CFR	C	-0.06%
	MAT	C	-0.06%
	ETSY	F	-0.06%
	PB	B	-0.06%
	FRPT	B	-0.06%
	IONS	F	-0.06%
	SMAR	C	-0.06%
	RYAN	D	-0.06%
	WFRD	F	-0.06%
	CGNX	F	-0.06%
	SN	B	-0.06%
	PEN	D	-0.06%
	PCTY	C	-0.06%
	AAL	D	-0.06%
	BSY	D	-0.06%
	VKTX	C	-0.06%
	MTZ	B	-0.06%
	MIDD	D	-0.06%
	BPOP	C	-0.06%
	ACHC	C	-0.06%
	HR	C	-0.06%
	PLNT	B	-0.06%
	STAG	C	-0.06%
	PNFP	B	-0.06%
	WSC	D	-0.06%
	RARE	B	-0.05%
	ST	D	-0.05%
	FNB	C	-0.05%
	S	C	-0.05%
	IDA	C	-0.05%
	ALK	C	-0.05%
	FIVE	D	-0.05%
	CIVI	F	-0.05%
	BILL	D	-0.05%
	LAZ	B	-0.05%
	VMI	D	-0.05%
	GME	F	-0.05%
	DAR	F	-0.05%
	CLF	F	-0.05%
	MTSI	D	-0.05%
	RITM	B	-0.05%
	U	D	-0.05%
	CELH	F	-0.05%
	SIRI	C	-0.05%
	GXO	D	-0.05%
	INSP	C	-0.05%
	AZPN	B	-0.05%
	PCOR	F	-0.05%
	LFUS	C	-0.05%
	DBX	D	-0.05%
	LSCC	D	-0.05%
	ESTC	F	-0.05%
	ELF	F	-0.05%
	AXS	B	-0.05%
	SITE	C	-0.05%
	ROIV	C	-0.04%
	BYD	C	-0.04%
	PII	D	-0.04%
	EEFT	D	-0.04%
	KRC	C	-0.04%
	ASH	D	-0.04%
	W	D	-0.04%
	AGO	C	-0.04%
	CUZ	B	-0.04%
	OZK	D	-0.04%
	AL	D	-0.04%
	WLK	D	-0.04%
	DOCS	B	-0.04%
	TPG	B	-0.04%
	RH	B	-0.04%
	CCCS	D	-0.04%
	CFLT	F	-0.04%
	FOX	B	-0.04%
	PATH	D	-0.04%
	APPF	D	-0.04%
	UGI	C	-0.04%
	AM	C	-0.04%
	FOUR	C	-0.04%
	COLB	B	-0.04%
	CXT	D	-0.03%
	TNL	D	-0.03%
	PEGA	C	-0.03%
	FHB	D	-0.03%
	PENN	D	-0.03%
	BROS	D	-0.03%
	CNXC	F	-0.03%
	IRDM	D	-0.03%
	NWS	D	-0.03%
	HCP	B	-0.03%
	ZI	D	-0.03%
	NVST	D	-0.03%
	LBTYA	B	-0.03%
	YETI	D	-0.03%
	NSA	B	-0.03%
	HIW	B	-0.03%
	GTES	C	-0.03%
	DNB	C	-0.03%
	LBTYK	B	-0.03%
	LCID	C	-0.03%
	CHH	C	-0.03%
	EPR	B	-0.03%
	COTY	F	-0.03%
	LITE	B	-0.03%
	PRGO	D	-0.03%
	MPW	C	-0.03%
	MSGS	B	-0.03%
	SPR	D	-0.03%
	IAC	C	-0.03%
	GFS	F	-0.03%
	VNOM	C	-0.03%
	APLS	F	-0.03%
	REYN	C	-0.02%
	FWONA	C	-0.02%
	FTRE	D	-0.02%
	AS	C	-0.02%
	BIRK	F	-0.02%
	MP	D	-0.02%
	HAYW	C	-0.02%
	IPGP	F	-0.02%
	LLYVK	B	-0.02%
	VSTS	D	-0.02%
	ADT	D	-0.02%
	QS	F	-0.02%
	FIVN	F	-0.02%
	RCM	C	-0.02%
	HHH	C	-0.02%
	TXG	D	-0.02%
	ENOV	D	-0.02%
	RNG	F	-0.02%
	BOKF	B	-0.02%
	QDEL	D	-0.02%
	NCNO	D	-0.02%
	DV	F	-0.02%
	SHC	C	-0.02%
	AGR	B	-0.02%
	VAC	F	-0.02%
	AZTA	F	-0.02%
	CLVT	D	-0.02%
	ZG	B	-0.02%
	RKT	C	-0.02%
	COLM	C	-0.02%
	TFSL	C	-0.01%
	NFE	F	-0.01%
	UI	B	-0.01%
	LLYVA	B	-0.01%
	LOAR	C	-0.01%
	ALAB	D	-0.01%
	UWMC	D	-0.01%
	PYCR	D	-0.01%
	DJT	F	-0.01%
	LBRDA	F	-0.01%
	CAR	F	-0.01%
	CERT	F	-0.01%
	CNA	C	-0.01%
	UAA	C	-0.01%
	TRIP	F	-0.01%
	UA	D	-0.01%
	GO	F	-0.01%
	INFA	D	-0.01%
	PPC	D	-0.01%
	ALGM	F	-0.01%
	SEG	C	-0.0%
	PARAA	D	-0.0%
	GRAL	F	-0.0%
	PLTK	C	-0.0%

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

IWR: Top Represented Industries & Keywords

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

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