MFUS vs. JPUS ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to JPMorgan Diversified Return U.S. Equity ETF (JPUS)

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

$51.53

Average Daily Volume

5,422

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

JPUS

JPMorgan Diversified Return U.S. Equity ETF

JPUS Description

The investment seeks investment results that closely correspond, before fees and expenses, to the performance of the Russell 1000 Diversified Factor Index. The fund will invest at least 80% of its assets in securities included in the underlying index. The underlying index is comprised of U.S. equity securities selected to represent a diversified set of factor characteristics, originally developed by the adviser. Holdings in the underlying index are selected by the index provider primarily from the constituents of the Russell 1000 Index, a larger Russell index, which is comprised of large- and mid-cap equity securities in the United States.

Grade (RS Rating)

Last Trade

$121.69

Average Daily Volume

6,980

Number of Holdings ^*

355

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	JPUS
30 Days	1.40%	1.79%
60 Days	3.06%	2.78%
90 Days	4.64%	4.42%
12 Months	31.57%	27.05%

288 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in JPUS	Overlap
AAPL	C	0.96%	0.36%	0.36%
ABBV	F	1.36%	0.33%	0.33%
ACI	C	0.01%	0.31%	0.01%
ACN	B	0.25%	0.32%	0.25%
ADBE	C	0.04%	0.05%	0.04%
ADM	D	0.22%	0.34%	0.22%
AEP	C	0.08%	0.31%	0.08%
AFL	B	0.21%	0.38%	0.21%
ALLY	C	0.05%	0.24%	0.05%
ALSN	B	0.11%	0.42%	0.11%
AMAT	F	0.55%	0.31%	0.31%
AMGN	F	0.94%	0.35%	0.35%
AMP	A	0.18%	0.29%	0.18%
ANET	C	0.14%	0.47%	0.14%
AOS	F	0.08%	0.3%	0.08%
APH	A	0.12%	0.42%	0.12%
ATO	A	0.02%	0.16%	0.02%
AVB	B	0.03%	0.31%	0.03%
AVGO	D	1.59%	0.38%	0.38%
AVY	F	0.09%	0.26%	0.09%
AZO	C	0.28%	0.35%	0.28%
BAC	A	0.45%	0.31%	0.31%
BAH	F	0.15%	0.32%	0.15%
BBY	D	0.21%	0.24%	0.21%
BDX	F	0.11%	0.19%	0.11%
BKNG	A	0.42%	0.18%	0.18%
BLDR	D	0.04%	0.34%	0.04%
BMY	B	0.41%	0.25%	0.25%
BRK.A	B	2.42%	0.39%	0.39%
CACI	D	0.09%	0.14%	0.09%
CAG	F	0.04%	0.32%	0.04%
CAH	B	0.27%	0.36%	0.27%
CARR	C	0.05%	0.09%	0.05%
CASY	A	0.16%	0.41%	0.16%
CAT	B	0.2%	0.28%	0.2%
CB	C	0.16%	0.27%	0.16%
CBRE	B	0.05%	0.05%	0.05%
CCI	C	0.07%	0.16%	0.07%
CE	F	0.02%	0.2%	0.02%
CEG	C	0.11%	0.42%	0.11%
CFG	B	0.04%	0.07%	0.04%
CHD	A	0.07%	0.34%	0.07%
CHE	D	0.06%	0.16%	0.06%
CHTR	C	0.3%	0.4%	0.3%
CI	D	0.13%	0.35%	0.13%
CL	D	0.35%	0.32%	0.32%
CLF	F	0.01%	0.18%	0.01%
CLH	C	0.04%	0.41%	0.04%
CLX	A	0.12%	0.35%	0.12%
CMCSA	B	0.16%	0.42%	0.16%
CMI	A	0.14%	0.42%	0.14%
CMS	C	0.03%	0.28%	0.03%
CNM	D	0.01%	0.21%	0.01%
COF	C	0.29%	0.45%	0.29%
COKE	C	0.03%	0.21%	0.03%
COP	C	0.07%	0.28%	0.07%
COR	B	0.17%	0.39%	0.17%
CPB	D	0.04%	0.33%	0.04%
CPT	B	0.06%	0.17%	0.06%
CRI	F	0.05%	0.03%	0.03%
CRUS	D	0.04%	0.1%	0.04%
CSCO	B	0.68%	0.41%	0.41%
CSL	C	0.02%	0.17%	0.02%
CSX	C	0.11%	0.13%	0.11%
CTVA	C	0.04%	0.3%	0.04%
CUBE	C	0.04%	0.35%	0.04%
CVS	D	0.65%	0.36%	0.36%
CVX	A	0.39%	0.35%	0.35%
CWEN	C	0.01%	0.05%	0.01%
D	C	0.07%	0.34%	0.07%
DFS	B	0.1%	0.13%	0.1%
DGX	A	0.09%	0.36%	0.09%
DHI	F	0.06%	0.33%	0.06%
DHR	F	0.24%	0.27%	0.24%
DINO	D	0.01%	0.26%	0.01%
DKS	D	0.08%	0.36%	0.08%
DLB	B	0.02%	0.06%	0.02%
DOW	F	0.02%	0.26%	0.02%
DOX	D	0.03%	0.24%	0.03%
DRI	B	0.03%	0.24%	0.03%
DTE	C	0.02%	0.3%	0.02%
DTM	A	0.01%	0.17%	0.01%
DUK	C	0.13%	0.36%	0.13%
DVA	C	0.16%	0.37%	0.16%
EA	A	0.18%	0.19%	0.18%
ECL	D	0.08%	0.29%	0.08%
ED	C	0.05%	0.34%	0.05%
EIX	B	0.05%	0.36%	0.05%
ELV	F	0.16%	0.26%	0.16%
EMN	C	0.04%	0.32%	0.04%
EQR	C	0.04%	0.2%	0.04%
ESI	B	0.01%	0.3%	0.01%
ESS	B	0.04%	0.37%	0.04%
ETR	B	0.05%	0.46%	0.05%
EVRG	A	0.02%	0.34%	0.02%
EXC	C	0.07%	0.31%	0.07%
EXP	B	0.07%	0.21%	0.07%
F	C	0.16%	0.19%	0.16%
FANG	C	0.05%	0.39%	0.05%
FAST	B	0.13%	0.39%	0.13%
FCNCA	A	0.06%	0.43%	0.06%
FE	C	0.03%	0.34%	0.03%
FITB	B	0.04%	0.31%	0.04%
FLO	D	0.04%	0.21%	0.04%
FNF	B	0.03%	0.35%	0.03%
FR	D	0.01%	0.16%	0.01%
FYBR	C	0.01%	0.37%	0.01%
GAP	C	0.06%	0.2%	0.06%
GD	D	0.24%	0.36%	0.24%
GEHC	D	0.07%	0.22%	0.07%
GEN	B	0.11%	0.07%	0.07%
GILD	C	0.87%	0.35%	0.35%
GIS	D	0.17%	0.33%	0.17%
GLPI	C	0.07%	0.34%	0.07%
GNTX	C	0.05%	0.28%	0.05%
GWW	B	0.21%	0.43%	0.21%
HBAN	A	0.03%	0.33%	0.03%
HCA	F	0.25%	0.34%	0.25%
HIG	B	0.06%	0.39%	0.06%
HOG	D	0.02%	0.03%	0.02%
HOLX	D	0.03%	0.28%	0.03%
HPE	B	0.11%	0.3%	0.11%
HRB	D	0.08%	0.36%	0.08%
HRL	D	0.02%	0.35%	0.02%
HST	C	0.02%	0.4%	0.02%
HSY	F	0.05%	0.26%	0.05%
HUBB	B	0.03%	0.35%	0.03%
HUN	F	0.0%	0.16%	0.0%
IBM	C	1.05%	0.3%	0.3%
IFF	D	0.03%	0.21%	0.03%
INGR	C	0.07%	0.42%	0.07%
IP	A	0.09%	0.46%	0.09%
IPG	D	0.04%	0.15%	0.04%
IRM	C	0.12%	0.39%	0.12%
IT	C	0.15%	0.32%	0.15%
ITT	A	0.08%	0.24%	0.08%
ITW	B	0.1%	0.34%	0.1%
JEF	A	0.03%	0.3%	0.03%
JLL	D	0.06%	0.41%	0.06%
JNPR	D	0.13%	0.38%	0.13%
K	A	0.15%	0.38%	0.15%
KDP	F	0.07%	0.26%	0.07%
KEY	B	0.03%	0.06%	0.03%
KHC	F	0.15%	0.34%	0.15%
KIM	A	0.02%	0.33%	0.02%
KLAC	F	0.23%	0.32%	0.23%
KMB	C	0.16%	0.34%	0.16%
KMI	A	0.11%	0.48%	0.11%
KO	D	1.0%	0.33%	0.33%
KR	B	0.38%	0.43%	0.38%
KSS	F	0.02%	0.01%	0.01%
LAMR	C	0.05%	0.39%	0.05%
LDOS	C	0.11%	0.22%	0.11%
LEG	F	0.02%	0.02%	0.02%
LEN	D	0.06%	0.36%	0.06%
LLY	F	2.39%	0.33%	0.33%
LMT	D	0.75%	0.36%	0.36%
LOPE	C	0.05%	0.09%	0.05%
LOW	C	0.35%	0.37%	0.35%
LPX	B	0.08%	0.08%	0.08%
LRCX	F	0.17%	0.26%	0.17%
LSTR	D	0.09%	0.04%	0.04%
LYB	F	0.15%	0.31%	0.15%
M	F	0.02%	0.18%	0.02%
MAA	B	0.02%	0.21%	0.02%
MAS	D	0.06%	0.3%	0.06%
MCK	A	0.63%	0.46%	0.46%
MDLZ	F	0.23%	0.33%	0.23%
META	D	2.35%	0.42%	0.42%
MMC	B	0.2%	0.05%	0.05%
MNST	C	0.07%	0.03%	0.03%
MO	A	0.73%	0.39%	0.39%
MOS	F	0.01%	0.17%	0.01%
MPC	D	0.34%	0.36%	0.34%
MRK	D	0.84%	0.26%	0.26%
MRO	B	0.03%	0.37%	0.03%
MSI	B	0.2%	0.43%	0.2%
MSM	C	0.06%	0.25%	0.06%
MTG	C	0.02%	0.35%	0.02%
NEM	D	0.16%	0.18%	0.16%
NEU	D	0.02%	0.18%	0.02%
NFG	A	0.05%	0.3%	0.05%
NI	A	0.02%	0.41%	0.02%
NKE	F	0.06%	0.06%	0.06%
NNN	C	0.01%	0.16%	0.01%
NRG	B	0.07%	0.46%	0.07%
NTAP	C	0.1%	0.31%	0.1%
NUE	C	0.08%	0.3%	0.08%
NVDA	B	1.9%	0.45%	0.45%
NVR	D	0.09%	0.38%	0.09%
NXST	C	0.05%	0.36%	0.05%
OC	A	0.02%	0.34%	0.02%
OHI	C	0.02%	0.38%	0.02%
OLN	F	0.04%	0.26%	0.04%
OMF	A	0.03%	0.22%	0.03%
ORCL	A	1.52%	0.41%	0.41%
ORLY	B	0.2%	0.37%	0.2%
PAG	B	0.02%	0.34%	0.02%
PEG	A	0.06%	0.41%	0.06%
PEP	F	0.74%	0.34%	0.34%
PFG	D	0.01%	0.1%	0.01%
PG	C	1.01%	0.36%	0.36%
PGR	A	0.59%	0.39%	0.39%
PH	A	0.14%	0.39%	0.14%
PHM	D	0.1%	0.38%	0.1%
PK	C	0.06%	0.24%	0.06%
PKG	A	0.1%	0.3%	0.1%
PM	B	0.87%	0.39%	0.39%
PNW	A	0.01%	0.39%	0.01%
POST	C	0.05%	0.35%	0.05%
PPC	C	0.01%	0.21%	0.01%
PPL	A	0.04%	0.39%	0.04%
PRU	A	0.23%	0.1%	0.1%
PSA	C	0.09%	0.34%	0.09%
PSX	C	0.23%	0.35%	0.23%
PWR	A	0.12%	0.46%	0.12%
QCOM	F	0.77%	0.3%	0.3%
R	B	0.07%	0.18%	0.07%
RBC	A	0.01%	0.07%	0.01%
REGN	F	0.36%	0.26%	0.26%
RF	A	0.02%	0.09%	0.02%
RGA	A	0.06%	0.17%	0.06%
RGLD	C	0.04%	0.08%	0.04%
RHI	C	0.02%	0.17%	0.02%
RMD	C	0.16%	0.07%	0.07%
RPM	A	0.13%	0.28%	0.13%
RRC	B	0.03%	0.05%	0.03%
RS	B	0.04%	0.38%	0.04%
RSG	A	0.13%	0.4%	0.13%
RVTY	F	0.01%	0.23%	0.01%
SAIC	F	0.01%	0.08%	0.01%
SAM	C	0.02%	0.24%	0.02%
SCCO	F	0.0%	0.36%	0.0%
SCI	B	0.07%	0.18%	0.07%
SJM	D	0.04%	0.21%	0.04%
SLM	A	0.06%	0.11%	0.06%
SMG	C	0.04%	0.1%	0.04%
SO	C	0.13%	0.37%	0.13%
SON	F	0.04%	0.01%	0.01%
SPB	C	0.01%	0.27%	0.01%
SPG	A	0.16%	0.41%	0.16%
SRE	A	0.08%	0.37%	0.08%
SSNC	B	0.02%	0.04%	0.02%
STE	D	0.07%	0.25%	0.07%
STLD	B	0.04%	0.38%	0.04%
STZ	D	0.06%	0.31%	0.06%
SYF	B	0.31%	0.52%	0.31%
SYY	D	0.12%	0.36%	0.12%
T	A	0.73%	0.4%	0.4%
TAP	C	0.09%	0.43%	0.09%
TGT	F	0.74%	0.24%	0.24%
THC	D	0.28%	0.4%	0.28%
TJX	A	0.37%	0.34%	0.34%
TKR	D	0.04%	0.19%	0.04%
TMO	F	0.28%	0.15%	0.15%
TMUS	B	0.43%	0.47%	0.43%
TOL	B	0.06%	0.42%	0.06%
TRGP	A	0.11%	0.5%	0.11%
TSCO	D	0.11%	0.34%	0.11%
TSN	B	0.18%	0.37%	0.18%
UGI	C	0.01%	0.31%	0.01%
UHS	D	0.06%	0.33%	0.06%
UNH	B	0.79%	0.34%	0.34%
UNM	A	0.04%	0.51%	0.04%
UNP	C	0.51%	0.27%	0.27%
USB	A	0.11%	0.11%	0.11%
USFD	A	0.05%	0.44%	0.05%
UTHR	C	0.19%	0.42%	0.19%
VIRT	A	0.06%	0.12%	0.06%
VLO	C	0.16%	0.4%	0.16%
VLTO	C	0.04%	0.04%	0.04%
VRTX	D	0.22%	0.37%	0.22%
VST	A	0.23%	0.64%	0.23%
VTR	B	0.04%	0.25%	0.04%
VTRS	A	0.14%	0.23%	0.14%
VVV	D	0.02%	0.11%	0.02%
VZ	C	1.0%	0.38%	0.38%
WELL	A	0.12%	0.4%	0.12%
WM	B	0.28%	0.41%	0.28%
WMB	A	0.1%	0.41%	0.1%
WPC	C	0.03%	0.21%	0.03%
WRB	A	0.02%	0.12%	0.02%
WSM	C	0.18%	0.31%	0.18%
WST	C	0.05%	0.27%	0.05%
WU	F	0.06%	0.11%	0.06%
X	B	0.03%	0.33%	0.03%
XOM	B	0.43%	0.41%	0.41%
ZTS	D	0.05%	0.27%	0.05%

MFUS Overweight 527 Positions Relative to JPUS

Symbol	Grade	Weight
WMT	A	1.71%
AMZN	C	1.71%
COST	A	1.35%
JNJ	C	1.18%
JPM	A	0.99%
WFC	A	0.97%
C	A	0.69%
HD	B	0.62%
MMM	D	0.6%
PFE	F	0.57%
GE	D	0.56%
MCD	D	0.53%
NFLX	A	0.52%
GS	A	0.41%
GM	C	0.4%
NOW	A	0.36%
EBAY	D	0.36%
NOC	D	0.35%
AIG	B	0.34%
MET	A	0.32%
V	A	0.31%
ISRG	A	0.29%
ICE	C	0.29%
TXN	C	0.29%
SPGI	C	0.29%
MA	B	0.28%
HPQ	B	0.28%
LHX	C	0.26%
ALL	A	0.26%
FICO	B	0.25%
PANW	B	0.25%
SFM	A	0.25%
ANF	F	0.25%
UPS	C	0.24%
AON	A	0.24%
AXP	A	0.23%
PLTR	B	0.23%
RTX	D	0.22%
SHW	B	0.22%
NEE	C	0.22%
MS	A	0.22%
UBER	F	0.21%
LII	A	0.21%
GLW	B	0.2%
INTC	C	0.2%
TRV	B	0.2%
BSX	A	0.2%
CMG	B	0.2%
FI	A	0.19%
BLK	B	0.19%
CTAS	B	0.19%
BK	A	0.18%
DECK	A	0.17%
HWM	A	0.17%
BR	A	0.17%
WSO	A	0.17%
MU	D	0.16%
AJG	A	0.16%
MUSA	B	0.16%
VRSK	A	0.16%
TDG	D	0.15%
MCO	B	0.15%
KKR	A	0.15%
CME	B	0.14%
CHRW	B	0.14%
BX	A	0.13%
DPZ	C	0.13%
EVR	B	0.13%
AMT	C	0.13%
YUM	D	0.13%
WBA	F	0.12%
PNC	B	0.12%
BRO	B	0.12%
GDDY	A	0.12%
PYPL	B	0.12%
CW	C	0.11%
EXPD	C	0.11%
CRS	B	0.11%
WTW	B	0.11%
DASH	B	0.11%
EFX	F	0.11%
EXR	C	0.11%
BWXT	B	0.11%
APP	B	0.11%
ADP	A	0.11%
FOXA	A	0.11%
OKE	A	0.1%
COIN	C	0.1%
HLT	A	0.1%
AYI	B	0.1%
JXN	C	0.1%
DD	C	0.1%
JKHY	D	0.1%
RCL	A	0.1%
XYL	D	0.1%
SEIC	B	0.09%
AIZ	A	0.09%
TFC	A	0.09%
CPRT	B	0.09%
MLI	B	0.09%
EMR	B	0.09%
IEX	C	0.09%
DG	F	0.09%
ARES	A	0.09%
WCC	B	0.09%
CALM	A	0.09%
IR	B	0.09%
DLR	B	0.09%
TROW	B	0.09%
ADSK	A	0.09%
EHC	B	0.09%
TMHC	C	0.09%
URI	C	0.09%
GPI	B	0.09%
SBUX	A	0.09%
BKR	A	0.08%
WDC	D	0.08%
SLG	B	0.08%
GPK	C	0.08%
ABG	C	0.08%
ATR	B	0.08%
TYL	B	0.08%
MTD	F	0.08%
HLI	A	0.08%
EQH	C	0.08%
BIIB	F	0.07%
ROL	B	0.07%
MSCI	C	0.07%
LPLA	A	0.07%
UFPI	C	0.07%
JCI	B	0.07%
BCC	B	0.07%
POOL	C	0.07%
NSC	B	0.07%
MLM	C	0.07%
SKYW	C	0.07%
GEO	B	0.07%
CNX	A	0.07%
VNO	C	0.07%
THO	B	0.07%
FTNT	C	0.07%
BALL	F	0.07%
AEO	F	0.07%
OTIS	C	0.07%
TTWO	A	0.07%
FIS	C	0.07%
HCC	B	0.07%
G	B	0.06%
BC	C	0.06%
TW	A	0.06%
SEE	C	0.06%
ATGE	B	0.06%
TPH	D	0.06%
BFH	C	0.06%
LECO	C	0.06%
GNRC	C	0.06%
BERY	C	0.06%
KTB	B	0.06%
MPWR	F	0.06%
CCK	D	0.06%
CMC	B	0.06%
MTH	D	0.06%
FIX	A	0.06%
IBKR	A	0.06%
LUMN	C	0.06%
SQ	A	0.06%
L	A	0.06%
TXRH	B	0.06%
TTC	C	0.06%
FFIV	B	0.06%
AMG	B	0.06%
AN	C	0.06%
OMC	C	0.06%
ROP	B	0.06%
ALNY	D	0.06%
TDS	B	0.05%
CNO	B	0.05%
PRIM	A	0.05%
FLEX	B	0.05%
THG	A	0.05%
AR	B	0.05%
NSIT	F	0.05%
URBN	C	0.05%
MOG.A	B	0.05%
SUI	C	0.05%
TGNA	B	0.05%
A	D	0.05%
NDAQ	A	0.05%
MTN	C	0.05%
EXEL	B	0.05%
SLGN	A	0.05%
COOP	B	0.05%
SCHW	B	0.05%
TEX	F	0.05%
KD	B	0.05%
IDXX	F	0.05%
CBT	D	0.05%
GVA	A	0.05%
ANSS	B	0.05%
HBI	B	0.05%
WEN	D	0.05%
FCN	F	0.05%
WAB	B	0.05%
MMS	F	0.05%
WAT	C	0.05%
SMCI	F	0.05%
BTU	B	0.05%
O	C	0.05%
MKC	C	0.05%
AVT	C	0.04%
OSK	C	0.04%
XPO	B	0.04%
LANC	C	0.04%
AWI	A	0.04%
SEM	B	0.04%
AMH	C	0.04%
CXW	C	0.04%
INVH	D	0.04%
JWN	D	0.04%
PSTG	D	0.04%
AGNC	C	0.04%
BDC	C	0.04%
SLVM	B	0.04%
WH	B	0.04%
ELS	C	0.04%
FL	F	0.04%
MTB	A	0.04%
ULTA	F	0.04%
PAYX	B	0.04%
ARW	D	0.04%
CPNG	D	0.04%
RUSHA	C	0.04%
TRN	B	0.04%
SANM	B	0.04%
CVLT	B	0.04%
FDS	B	0.04%
NBIX	C	0.04%
VRSN	C	0.04%
BAX	F	0.04%
NWSA	A	0.04%
WTM	A	0.04%
PTC	B	0.04%
OGN	F	0.04%
BHF	C	0.04%
ATI	C	0.04%
MAC	B	0.04%
GBX	A	0.04%
HUBG	A	0.04%
HEI	A	0.04%
FTI	A	0.04%
SIG	B	0.04%
MHO	D	0.04%
CNC	D	0.04%
ZBRA	B	0.04%
GATX	A	0.04%
CRBG	B	0.04%
EME	A	0.04%
HOOD	B	0.04%
JHG	B	0.04%
CMA	B	0.04%
PPG	F	0.04%
AROC	A	0.04%
ABM	B	0.04%
NDSN	B	0.04%
ERIE	D	0.04%
DCI	B	0.04%
WERN	C	0.04%
DOV	A	0.04%
MAR	A	0.04%
HXL	F	0.03%
SBAC	D	0.03%
DLTR	F	0.03%
GMED	A	0.03%
DRH	B	0.03%
PNM	B	0.03%
ACA	A	0.03%
KMPR	A	0.03%
LZB	B	0.03%
HAE	C	0.03%
UNF	B	0.03%
PINC	B	0.03%
APAM	B	0.03%
VC	F	0.03%
MAN	F	0.03%
DK	C	0.03%
AMKR	D	0.03%
COLD	D	0.03%
LBRDK	C	0.03%
BKE	B	0.03%
FHI	B	0.03%
LNC	C	0.03%
AVTR	F	0.03%
RPRX	D	0.03%
BURL	B	0.03%
NTRS	A	0.03%
TER	F	0.03%
DELL	B	0.03%
UDR	B	0.03%
PLXS	B	0.03%
CDW	F	0.03%
WHR	B	0.03%
CG	B	0.03%
OI	C	0.03%
PRG	C	0.03%
APLE	B	0.03%
ASO	F	0.03%
SHOO	F	0.03%
JBL	C	0.03%
AVA	A	0.03%
DBRG	F	0.03%
LW	C	0.03%
HSIC	C	0.03%
COHR	B	0.03%
RL	C	0.03%
GMS	B	0.03%
BKU	A	0.03%
CDP	C	0.03%
RLI	A	0.03%
BLD	D	0.03%
DDS	B	0.03%
GGG	B	0.03%
KBH	D	0.03%
GNW	A	0.03%
SM	B	0.03%
IVZ	B	0.03%
CPAY	A	0.03%
MC	C	0.03%
MATX	C	0.03%
MASI	B	0.03%
ES	C	0.03%
TPX	B	0.03%
NYT	D	0.03%
BJ	A	0.03%
ACM	B	0.03%
MORN	B	0.03%
MANH	D	0.03%
ODP	F	0.02%
IOSP	C	0.02%
LXP	D	0.02%
SAH	C	0.02%
KEX	B	0.02%
TTMI	C	0.02%
VSH	F	0.02%
LAUR	A	0.02%
UAL	A	0.02%
AA	A	0.02%
SF	B	0.02%
BHE	C	0.02%
BRKR	D	0.02%
GT	C	0.02%
GME	C	0.02%
WBS	A	0.02%
PHIN	A	0.02%
BEN	C	0.02%
WAL	B	0.02%
AXTA	B	0.02%
ANDE	D	0.02%
BXP	C	0.02%
ZION	B	0.02%
APG	B	0.02%
SNV	C	0.02%
NSP	F	0.02%
HP	C	0.02%
VFC	C	0.02%
ODFL	C	0.02%
DNOW	B	0.02%
LAD	A	0.02%
REZI	A	0.02%
PMT	C	0.02%
HNI	B	0.02%
XRAY	F	0.02%
WKC	C	0.02%
SNDR	B	0.02%
OSIS	A	0.02%
NAVI	F	0.02%
WMS	F	0.02%
LNW	F	0.02%
PNR	A	0.02%
EPC	F	0.02%
LNT	A	0.02%
AGCO	D	0.02%
KBR	F	0.02%
JBLU	F	0.02%
PFSI	C	0.02%
THS	D	0.02%
SKX	D	0.02%
CC	C	0.02%
NWL	C	0.02%
MDU	D	0.02%
SXT	C	0.02%
RLJ	C	0.02%
YELP	C	0.02%
DORM	B	0.02%
APOG	C	0.02%
GWRE	A	0.02%
CTLT	C	0.02%
PSN	D	0.02%
XHR	B	0.02%
PDCO	F	0.02%
PBF	D	0.02%
MKTX	D	0.02%
CINF	A	0.02%
EWBC	A	0.02%
NTCT	C	0.02%
VSCO	C	0.02%
MCY	A	0.02%
AIR	B	0.02%
FAF	A	0.02%
SBH	C	0.02%
HII	F	0.02%
BFAM	D	0.02%
VSTO	A	0.02%
PVH	C	0.02%
CCL	A	0.02%
RYN	D	0.02%
AKAM	D	0.02%
JBHT	C	0.02%
ADNT	F	0.02%
ORA	B	0.02%
TFX	F	0.02%
GEF	A	0.02%
MSA	F	0.02%
GHC	B	0.02%
STC	B	0.02%
SVC	F	0.01%
QRVO	F	0.01%
AAP	D	0.01%
CPRI	F	0.01%
NOV	C	0.01%
KNX	C	0.01%
RKT	F	0.01%
UHAL	D	0.01%
JELD	F	0.01%
SCL	C	0.01%
MLKN	F	0.01%
IGT	F	0.01%
CACC	D	0.01%
PARA	C	0.01%
ARI	C	0.01%
WOR	F	0.01%
ELAN	D	0.01%
CNXN	C	0.01%
SPR	D	0.01%
GIII	D	0.01%
ECPG	C	0.01%
ALEX	B	0.01%
UVV	B	0.01%
JBGS	F	0.01%
HTH	C	0.01%
SEB	F	0.01%
MKSI	C	0.01%
RDN	D	0.01%
IMKTA	C	0.01%
XRX	F	0.01%
SR	A	0.01%
ARMK	B	0.01%
OUT	A	0.01%
SHO	D	0.01%
WGO	C	0.01%
AMED	F	0.01%
CNS	B	0.01%
SSB	B	0.01%
SWX	B	0.01%
KALU	C	0.01%
CENTA	C	0.01%
CVI	F	0.01%
ARCH	B	0.01%
PECO	A	0.01%
PB	B	0.01%
OMI	F	0.01%
FDP	B	0.01%
SIGI	C	0.01%
LEA	F	0.01%
WAFD	B	0.01%
CROX	D	0.01%
BRC	D	0.01%
DY	D	0.01%
AES	F	0.01%
CFR	B	0.01%
FELE	B	0.01%
DAN	D	0.01%
WMK	C	0.01%
MHK	D	0.01%
FLR	B	0.01%
KN	B	0.01%
STRA	C	0.01%
BBWI	C	0.01%
ESNT	F	0.01%
TPR	B	0.01%
DXC	B	0.01%
IDCC	B	0.01%
LADR	B	0.01%
INCY	C	0.01%
NNI	D	0.01%
GES	F	0.01%
ESAB	C	0.01%
ONB	C	0.01%
CBSH	B	0.01%
WWD	C	0.01%
TTEK	F	0.01%
MUR	D	0.01%
CR	A	0.01%
ICUI	D	0.01%
CSGS	B	0.01%
BMRN	F	0.01%
TNET	F	0.01%
HE	C	0.01%
CADE	B	0.01%
WTFC	A	0.01%
FHN	A	0.01%
PSMT	D	0.01%
ALGN	D	0.01%
ADC	A	0.01%
H	B	0.01%
SATS	D	0.01%
UHAL	D	0.01%
BWA	D	0.01%
SLB	C	0.01%
GOLF	B	0.01%
DEI	B	0.01%
AMWD	C	0.01%
PTEN	C	0.01%
SCS	C	0.01%
VNT	C	0.01%
TDC	D	0.01%
NOMD	D	0.0%
WOLF	F	0.0%

MFUS Underweight 67 Positions Relative to JPUS

Symbol	Grade	Weight
CIEN	C	-0.52%
PFGC	B	-0.46%
ETN	A	-0.43%
GRMN	B	-0.43%
KVUE	A	-0.39%
AM	A	-0.38%
REG	A	-0.38%
BRX	A	-0.37%
CTSH	B	-0.37%
INTU	B	-0.36%
OGE	A	-0.36%
XEL	A	-0.36%
MSFT	D	-0.35%
CTRA	B	-0.35%
ADI	D	-0.35%
WEC	A	-0.34%
BG	D	-0.34%
LNG	A	-0.34%
CDNS	B	-0.33%
VICI	C	-0.33%
WLK	D	-0.32%
EOG	A	-0.32%
CF	A	-0.32%
ACGL	C	-0.31%
ABT	B	-0.31%
WY	F	-0.31%
ORI	A	-0.3%
LH	B	-0.28%
EG	C	-0.28%
SYK	B	-0.28%
LIN	C	-0.28%
FCX	F	-0.25%
CBOE	C	-0.25%
SNX	D	-0.24%
BRBR	A	-0.24%
MDT	D	-0.23%
PR	B	-0.23%
ROST	D	-0.23%
APO	B	-0.23%
STAG	D	-0.23%
BPOP	C	-0.21%
MEDP	D	-0.19%
ASH	F	-0.19%
STWD	C	-0.18%
UI	B	-0.17%
EPR	C	-0.17%
KRC	B	-0.16%
HIW	C	-0.15%
SWKS	F	-0.14%
MOH	F	-0.14%
STT	B	-0.13%
FBIN	D	-0.12%
GOOGL	C	-0.11%
DVN	F	-0.1%
OXY	D	-0.1%
FRT	B	-0.09%
TNL	A	-0.07%
PCAR	B	-0.06%
AFG	A	-0.06%
EGP	D	-0.06%
IRDM	D	-0.06%
AGO	B	-0.05%
NSA	C	-0.05%
FTRE	D	-0.03%
IDA	A	-0.02%
PLD	F	-0.01%
ROKU	D	-0.0%