MFUS vs. NACP ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Impact Shares NAACP Minority Empowerment ETF (NACP)

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

$51.89

Average Daily Volume

5,619

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

NACP

Impact Shares NAACP Minority Empowerment ETF

NACP Description

The investment seeks investment results that, before fees and expenses, track the performance of the Morningstar Minority Empowerment Index (the underlying index). The fund will, under normal circumstances, invest at least 80% of its total assets, plus borrowings for investment purposes (the "80% basket") in component securities of the underlying index ("Component Securities"). The underlying index is designed to measure the performance of large and mid- capitalization companies that are "empowering to minorities," and to exhibit risk and return characteristics similar to those of the Morningstar US Large-Mid Cap ® Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$42.72

Average Daily Volume

3,518

Number of Holdings ^*

197

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	NACP
30 Days	2.73%	2.08%
60 Days	3.41%	4.48%
90 Days	5.38%	6.57%
12 Months	32.49%	32.92%

158 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in NACP	Overlap
A	D	0.05%	0.14%	0.05%
AAPL	C	0.97%	5.03%	0.97%
ABBV	D	1.35%	1.22%	1.22%
ACM	A	0.04%	0.05%	0.04%
ACN	C	0.24%	3.58%	0.24%
ADM	D	0.23%	0.11%	0.11%
ADP	B	0.11%	0.4%	0.11%
AEP	D	0.08%	0.19%	0.08%
AES	F	0.01%	0.05%	0.01%
AMH	D	0.04%	0.05%	0.04%
AMZN	C	1.65%	4.47%	1.65%
AON	A	0.25%	0.24%	0.24%
AVB	B	0.03%	0.11%	0.03%
AXP	A	0.23%	0.56%	0.23%
BAC	A	0.45%	0.99%	0.45%
BAH	F	0.14%	0.07%	0.07%
BAX	D	0.04%	0.07%	0.04%
BDX	F	0.11%	0.23%	0.11%
BIIB	F	0.06%	0.1%	0.06%
BK	A	0.18%	0.17%	0.17%
BMY	B	0.41%	0.35%	0.35%
BSX	B	0.21%	0.41%	0.21%
BWA	D	0.01%	0.03%	0.01%
C	A	0.7%	0.45%	0.45%
CCI	D	0.07%	0.18%	0.07%
CI	F	0.13%	0.37%	0.13%
CLX	B	0.13%	0.07%	0.07%
CMI	A	0.14%	0.15%	0.14%
CMS	C	0.03%	0.07%	0.03%
COP	C	0.07%	0.49%	0.07%
CPB	D	0.04%	0.04%	0.04%
CSX	B	0.11%	0.24%	0.11%
CVS	D	0.67%	0.27%	0.27%
CVX	A	0.39%	1.04%	0.39%
D	C	0.07%	0.18%	0.07%
DD	D	0.1%	0.14%	0.1%
DELL	C	0.03%	0.54%	0.03%
DGX	A	0.09%	0.06%	0.06%
DHR	F	0.24%	0.64%	0.24%
DTE	C	0.02%	0.08%	0.02%
DUK	C	0.13%	0.32%	0.13%
EA	A	0.19%	0.45%	0.19%
EBAY	D	0.36%	0.11%	0.11%
ECL	D	0.08%	0.21%	0.08%
ED	D	0.06%	0.12%	0.06%
EIX	B	0.05%	0.11%	0.05%
ELV	F	0.15%	0.47%	0.15%
EMN	D	0.04%	0.04%	0.04%
EMR	A	0.09%	0.22%	0.09%
ES	D	0.03%	0.08%	0.03%
ETR	B	0.05%	0.08%	0.05%
EXC	C	0.07%	0.15%	0.07%
EXPD	D	0.11%	0.07%	0.07%
F	C	0.15%	0.15%	0.15%
FE	C	0.03%	0.08%	0.03%
GE	D	0.56%	0.69%	0.56%
GILD	C	0.84%	0.35%	0.35%
GM	B	0.38%	0.18%	0.18%
HBAN	A	0.03%	0.07%	0.03%
HLT	A	0.1%	0.17%	0.1%
HPQ	B	0.29%	0.62%	0.29%
HRL	D	0.02%	0.03%	0.02%
HSY	F	0.05%	0.1%	0.05%
HUBB	B	0.03%	0.06%	0.03%
HWM	A	0.18%	0.14%	0.14%
IBM	C	1.09%	3.08%	1.09%
IFF	D	0.03%	0.09%	0.03%
INTC	D	0.19%	1.52%	0.19%
IPG	D	0.04%	0.16%	0.04%
IR	B	0.09%	0.12%	0.09%
ITW	B	0.1%	0.27%	0.1%
JBHT	C	0.02%	0.05%	0.02%
JCI	C	0.07%	0.17%	0.07%
JNJ	D	1.2%	1.44%	1.2%
JPM	A	0.99%	2.39%	0.99%
K	A	0.15%	0.07%	0.07%
KHC	F	0.14%	0.12%	0.12%
KMI	A	0.11%	0.15%	0.11%
KO	D	1.01%	0.99%	0.99%
KR	B	0.37%	0.13%	0.13%
LECO	B	0.06%	0.04%	0.04%
LHX	C	0.26%	0.16%	0.16%
LII	A	0.22%	0.07%	0.07%
LNT	A	0.02%	0.05%	0.02%
LOW	D	0.35%	0.51%	0.35%
MA	C	0.28%	1.4%	0.28%
MAR	B	0.04%	0.19%	0.04%
MCO	B	0.14%	0.26%	0.14%
MDLZ	F	0.22%	0.36%	0.22%
MET	A	0.32%	0.17%	0.17%
META	D	2.32%	3.63%	2.32%
MLM	B	0.07%	0.12%	0.07%
MMM	D	0.58%	0.26%	0.26%
MOS	F	0.01%	0.03%	0.01%
MPC	D	0.35%	0.23%	0.23%
MRK	F	0.83%	1.03%	0.83%
MS	A	0.22%	0.47%	0.22%
MU	D	0.16%	1.75%	0.16%
NDAQ	A	0.05%	0.08%	0.05%
NDSN	B	0.04%	0.05%	0.04%
NEE	D	0.23%	0.66%	0.23%
NEM	D	0.17%	0.22%	0.17%
NI	A	0.02%	0.05%	0.02%
NKE	D	0.06%	0.36%	0.06%
NOC	D	0.35%	0.29%	0.29%
NRG	B	0.08%	0.07%	0.07%
NSC	B	0.07%	0.2%	0.07%
NVDA	C	1.9%	4.9%	1.9%
OC	A	0.02%	0.05%	0.02%
OKE	A	0.1%	0.18%	0.1%
OTIS	C	0.07%	0.13%	0.07%
PANW	C	0.25%	1.81%	0.25%
PEG	A	0.06%	0.14%	0.06%
PEP	F	0.71%	0.92%	0.71%
PFE	D	0.55%	0.62%	0.55%
PFG	D	0.01%	0.03%	0.01%
PNC	B	0.12%	0.27%	0.12%
PPG	F	0.04%	0.1%	0.04%
PPL	B	0.04%	0.08%	0.04%
PSX	C	0.23%	0.22%	0.22%
PYPL	B	0.12%	0.27%	0.12%
QCOM	F	0.73%	3.18%	0.73%
RCL	A	0.11%	0.12%	0.11%
RF	A	0.02%	0.07%	0.02%
RMD	C	0.17%	0.11%	0.11%
SBAC	D	0.03%	0.08%	0.03%
SCCO	F	0.0%	0.03%	0.0%
SCHW	B	0.05%	0.33%	0.05%
SJM	D	0.04%	0.05%	0.04%
SO	D	0.13%	0.35%	0.13%
SPGI	C	0.29%	0.55%	0.29%
SRE	A	0.08%	0.18%	0.08%
SYF	B	0.31%	0.08%	0.08%
T	A	0.75%	0.45%	0.45%
TAP	C	0.08%	0.03%	0.03%
TFC	A	0.09%	0.22%	0.09%
TFX	F	0.02%	0.04%	0.02%
TMO	F	0.27%	0.83%	0.27%
TROW	B	0.09%	0.09%	0.09%
TRV	B	0.2%	0.18%	0.18%
TSN	B	0.18%	0.07%	0.07%
UAL	A	0.02%	0.05%	0.02%
UBER	D	0.2%	2.29%	0.2%
UNH	C	0.81%	1.95%	0.81%
UNP	C	0.5%	0.56%	0.5%
UPS	C	0.24%	0.35%	0.24%
URI	B	0.09%	0.18%	0.09%
USFD	A	0.05%	0.04%	0.04%
V	A	0.31%	1.53%	0.31%
VLO	C	0.16%	0.17%	0.16%
VRSK	A	0.16%	0.13%	0.13%
VST	B	0.26%	0.11%	0.11%
VZ	C	1.03%	2.26%	1.03%
WBA	F	0.11%	0.03%	0.03%
WMB	A	0.11%	0.19%	0.11%
WMT	A	1.77%	0.73%	0.73%
XOM	B	0.43%	2.0%	0.43%
XYL	D	0.11%	0.11%	0.11%

MFUS Overweight 657 Positions Relative to NACP

Symbol	Grade	Weight
BRK.A	B	2.44%
LLY	F	2.3%
ORCL	B	1.56%
AVGO	D	1.54%
COST	B	1.36%
PG	A	1.04%
WFC	A	0.99%
AMGN	D	0.92%
PM	B	0.89%
LMT	D	0.75%
MO	A	0.74%
CSCO	B	0.68%
MCK	B	0.64%
HD	A	0.62%
PGR	A	0.59%
TGT	F	0.59%
NFLX	A	0.55%
MCD	D	0.52%
AMAT	F	0.5%
TMUS	B	0.43%
BKNG	A	0.42%
GS	A	0.4%
TJX	A	0.38%
CL	D	0.36%
REGN	F	0.35%
NOW	A	0.35%
AIG	B	0.34%
CHTR	C	0.3%
ICE	C	0.29%
ISRG	A	0.29%
COF	B	0.29%
AZO	C	0.28%
TXN	C	0.28%
CAH	B	0.27%
WM	A	0.27%
THC	D	0.26%
ALL	A	0.26%
FICO	B	0.25%
SFM	A	0.25%
PLTR	B	0.24%
ANF	C	0.24%
HCA	F	0.24%
WSM	B	0.24%
PRU	A	0.23%
GD	F	0.23%
AFL	B	0.22%
KLAC	D	0.22%
GWW	B	0.22%
RTX	C	0.22%
VRTX	F	0.21%
SHW	A	0.21%
MSI	B	0.2%
ORLY	B	0.2%
MMC	B	0.2%
GLW	B	0.2%
BBY	D	0.2%
CAT	B	0.2%
CMG	B	0.2%
FI	A	0.19%
CTAS	B	0.19%
WSO	A	0.18%
AMP	A	0.18%
UTHR	C	0.18%
BLK	C	0.18%
SPG	B	0.17%
DECK	A	0.17%
CASY	A	0.17%
DVA	B	0.17%
BR	A	0.17%
KMB	D	0.17%
COR	B	0.17%
GIS	D	0.17%
AJG	B	0.16%
CB	C	0.16%
MUSA	A	0.16%
LRCX	F	0.16%
CMCSA	B	0.16%
TDG	D	0.15%
VTRS	A	0.15%
LYB	F	0.15%
KKR	A	0.15%
CHRW	C	0.14%
AMT	D	0.14%
ANET	C	0.14%
CME	A	0.14%
PH	A	0.14%
IT	C	0.14%
APP	B	0.13%
FAST	B	0.13%
DPZ	C	0.13%
EVR	B	0.13%
BX	A	0.13%
RPM	A	0.13%
YUM	B	0.13%
RSG	A	0.13%
BRO	B	0.12%
SYY	B	0.12%
WELL	A	0.12%
IRM	D	0.12%
APH	A	0.12%
JNPR	F	0.12%
GDDY	A	0.12%
PWR	A	0.12%
CW	B	0.11%
WTW	B	0.11%
ALSN	B	0.11%
LDOS	C	0.11%
HPE	B	0.11%
USB	A	0.11%
TSCO	D	0.11%
DASH	A	0.11%
FOXA	B	0.11%
CEG	D	0.11%
COIN	C	0.11%
EXR	D	0.11%
BWXT	B	0.11%
CRS	A	0.11%
TRGP	B	0.11%
PHM	D	0.1%
AYI	B	0.1%
JXN	C	0.1%
NTAP	C	0.1%
JKHY	D	0.1%
DFS	B	0.1%
GEN	B	0.1%
PKG	A	0.1%
EFX	F	0.1%
LSTR	D	0.09%
IEX	B	0.09%
WCC	B	0.09%
AIZ	A	0.09%
MLI	C	0.09%
EHC	B	0.09%
ARES	A	0.09%
NVR	D	0.09%
ADSK	A	0.09%
TMHC	B	0.09%
GPI	A	0.09%
AVY	D	0.09%
CALM	A	0.09%
IP	B	0.09%
DLR	B	0.09%
SBUX	A	0.09%
PSA	D	0.09%
GEO	B	0.08%
TTWO	A	0.08%
LPX	B	0.08%
ABG	B	0.08%
DKS	C	0.08%
SMCI	F	0.08%
MTD	D	0.08%
AOS	F	0.08%
HCC	B	0.08%
ATR	B	0.08%
WDC	D	0.08%
BKR	B	0.08%
TYL	B	0.08%
GPK	C	0.08%
NUE	C	0.08%
SLG	B	0.08%
EQH	B	0.08%
DG	F	0.08%
CPRT	A	0.08%
SEIC	B	0.08%
ITT	A	0.08%
HLI	B	0.08%
CACI	D	0.08%
FIX	A	0.07%
UFPI	B	0.07%
SQ	B	0.07%
INGR	B	0.07%
EXP	A	0.07%
BCC	B	0.07%
LPLA	A	0.07%
SCI	B	0.07%
GLPI	C	0.07%
SKYW	B	0.07%
POOL	C	0.07%
AEO	F	0.07%
CHD	B	0.07%
R	B	0.07%
KDP	D	0.07%
VNO	B	0.07%
STE	F	0.07%
BALL	D	0.07%
THO	B	0.07%
MNST	C	0.07%
FTNT	C	0.07%
HRB	D	0.07%
FIS	C	0.07%
GEHC	F	0.07%
CNX	A	0.07%
SEE	C	0.06%
JLL	D	0.06%
O	D	0.06%
GNRC	B	0.06%
TPH	D	0.06%
KTB	B	0.06%
HBI	B	0.06%
MKC	D	0.06%
MPWR	F	0.06%
BFH	B	0.06%
CHE	D	0.06%
ATGE	B	0.06%
VIRT	B	0.06%
CPT	B	0.06%
UHS	D	0.06%
TW	A	0.06%
MTH	D	0.06%
MAS	D	0.06%
HIG	B	0.06%
SLM	A	0.06%
CCK	C	0.06%
PK	B	0.06%
CMC	B	0.06%
OMC	C	0.06%
TXRH	C	0.06%
MSM	C	0.06%
BERY	B	0.06%
WU	D	0.06%
AN	C	0.06%
AMG	B	0.06%
DHI	D	0.06%
L	A	0.06%
TTC	D	0.06%
ROP	B	0.06%
FCNCA	A	0.06%
ALNY	D	0.06%
RGA	A	0.06%
FFIV	B	0.06%
IBKR	A	0.06%
TOL	B	0.06%
MSCI	C	0.06%
LEN	D	0.06%
ROL	B	0.06%
EME	C	0.05%
URBN	C	0.05%
CNO	A	0.05%
FANG	D	0.05%
NFG	A	0.05%
NSIT	F	0.05%
ERIE	D	0.05%
LOPE	B	0.05%
AROC	B	0.05%
THG	A	0.05%
TDS	B	0.05%
PRIM	A	0.05%
CRI	D	0.05%
GNTX	C	0.05%
MOG.A	B	0.05%
TGNA	B	0.05%
MTN	C	0.05%
EXEL	B	0.05%
SUI	D	0.05%
HOOD	B	0.05%
CARR	D	0.05%
CBRE	B	0.05%
FLEX	A	0.05%
SLGN	A	0.05%
TEX	D	0.05%
CBT	C	0.05%
IDXX	F	0.05%
COOP	B	0.05%
LAMR	D	0.05%
ZTS	D	0.05%
POST	C	0.05%
AR	B	0.05%
KD	B	0.05%
WAT	B	0.05%
WEN	D	0.05%
ALLY	C	0.05%
NXST	C	0.05%
ANSS	B	0.05%
GAP	C	0.05%
LUMN	C	0.05%
GVA	A	0.05%
WAB	B	0.05%
MMS	F	0.05%
BC	C	0.05%
FCN	D	0.05%
BTU	B	0.05%
STZ	D	0.05%
G	B	0.05%
XPO	B	0.04%
SON	D	0.04%
TKR	D	0.04%
AVT	C	0.04%
ADBE	C	0.04%
FL	F	0.04%
JWN	C	0.04%
CRUS	D	0.04%
EQR	B	0.04%
AWI	A	0.04%
ESS	B	0.04%
CXW	B	0.04%
CPNG	D	0.04%
INVH	D	0.04%
CLH	B	0.04%
BDC	B	0.04%
SEM	B	0.04%
WH	B	0.04%
PSTG	D	0.04%
RUSHA	C	0.04%
ELS	C	0.04%
PAYX	C	0.04%
SMG	D	0.04%
OLN	D	0.04%
AGNC	D	0.04%
CTVA	C	0.04%
CFG	B	0.04%
MTB	A	0.04%
FLO	D	0.04%
BLDR	D	0.04%
CAG	D	0.04%
ARW	D	0.04%
FDS	B	0.04%
SLVM	B	0.04%
TRN	C	0.04%
SANM	B	0.04%
OGN	D	0.04%
VRSN	F	0.04%
VTR	C	0.04%
CVLT	B	0.04%
BHF	B	0.04%
PTC	A	0.04%
NBIX	C	0.04%
NWSA	B	0.04%
CUBE	D	0.04%
GBX	A	0.04%
WTM	A	0.04%
ZBRA	B	0.04%
JHG	A	0.04%
SIG	B	0.04%
HEI	B	0.04%
MAC	B	0.04%
HUBG	A	0.04%
RGLD	C	0.04%
FITB	A	0.04%
CMA	A	0.04%
ATI	D	0.04%
MHO	D	0.04%
CNC	D	0.04%
FTI	A	0.04%
CRBG	B	0.04%
VLTO	D	0.04%
WERN	C	0.04%
STLD	B	0.04%
DCI	B	0.04%
GATX	A	0.04%
DOV	A	0.04%
UNM	A	0.04%
ABM	B	0.04%
RS	B	0.04%
WST	C	0.04%
STC	B	0.03%
HAE	C	0.03%
WRB	A	0.03%
GEF	A	0.03%
DRH	B	0.03%
COKE	C	0.03%
KMPR	B	0.03%
VC	D	0.03%
UNF	B	0.03%
LZB	B	0.03%
DK	C	0.03%
RRC	B	0.03%
GMED	A	0.03%
KEY	B	0.03%
MAN	D	0.03%
PINC	B	0.03%
ACA	A	0.03%
PNM	F	0.03%
APAM	B	0.03%
FNF	B	0.03%
AMKR	D	0.03%
DRI	B	0.03%
AVTR	F	0.03%
WPC	D	0.03%
BKE	B	0.03%
LBRDK	C	0.03%
ASO	F	0.03%
LNC	B	0.03%
FHI	A	0.03%
WHR	B	0.03%
TER	D	0.03%
OI	C	0.03%
JEF	A	0.03%
CDW	F	0.03%
MRO	B	0.03%
OMF	A	0.03%
BURL	A	0.03%
UDR	B	0.03%
SHOO	D	0.03%
DBRG	F	0.03%
CG	A	0.03%
PRG	C	0.03%
NTRS	A	0.03%
RPRX	D	0.03%
LW	C	0.03%
COLD	D	0.03%
PLXS	B	0.03%
APLE	B	0.03%
RL	B	0.03%
X	C	0.03%
JBL	B	0.03%
MATX	C	0.03%
BLD	D	0.03%
DDS	B	0.03%
GMS	B	0.03%
HOLX	D	0.03%
AVA	A	0.03%
GGG	B	0.03%
BKU	A	0.03%
MC	C	0.03%
DOX	D	0.03%
RLI	B	0.03%
KBH	D	0.03%
IVZ	B	0.03%
COHR	B	0.03%
NYT	C	0.03%
CDP	C	0.03%
TPX	B	0.03%
CPAY	A	0.03%
SM	B	0.03%
MANH	D	0.03%
GNW	A	0.03%
MORN	B	0.03%
ULTA	F	0.03%
BJ	A	0.03%
OSK	B	0.03%
HSIC	B	0.03%
MASI	A	0.03%
LANC	C	0.03%
LEG	F	0.02%
DTM	B	0.02%
TDC	D	0.02%
SATS	D	0.02%
TTMI	B	0.02%
LXP	D	0.02%
ODP	F	0.02%
KEX	C	0.02%
SSNC	B	0.02%
SF	B	0.02%
GT	C	0.02%
BRKR	D	0.02%
BHE	B	0.02%
EVRG	A	0.02%
KIM	A	0.02%
CSL	C	0.02%
AXTA	A	0.02%
LAUR	A	0.02%
VFC	C	0.02%
WAL	B	0.02%
WBS	A	0.02%
BEN	C	0.02%
PHIN	A	0.02%
JBLU	F	0.02%
NSP	D	0.02%
ATO	A	0.02%
GME	C	0.02%
ZION	B	0.02%
ODFL	B	0.02%
DOW	F	0.02%
BXP	D	0.02%
SNV	B	0.02%
ANDE	D	0.02%
APG	B	0.02%
HP	B	0.02%
HST	C	0.02%
AA	B	0.02%
VVV	F	0.02%
DNOW	B	0.02%
LAD	A	0.02%
M	D	0.02%
HNI	B	0.02%
PMT	D	0.02%
NAVI	C	0.02%
WKC	D	0.02%
WMS	D	0.02%
PNR	A	0.02%
LNW	D	0.02%
REZI	A	0.02%
XRAY	F	0.02%
KBR	F	0.02%
EPC	D	0.02%
SNDR	B	0.02%
MAA	B	0.02%
RHI	B	0.02%
AGCO	D	0.02%
OSIS	B	0.02%
SKX	D	0.02%
PFSI	D	0.02%
NWL	B	0.02%
CC	C	0.02%
PSN	D	0.02%
SXT	B	0.02%
KSS	F	0.02%
OHI	C	0.02%
SAM	C	0.02%
APOG	B	0.02%
YELP	C	0.02%
RLJ	C	0.02%
THS	D	0.02%
DORM	B	0.02%
NTCT	C	0.02%
XHR	B	0.02%
CTLT	B	0.02%
GWRE	A	0.02%
MDU	D	0.02%
MKTX	D	0.02%
SBH	C	0.02%
PVH	C	0.02%
PBF	D	0.02%
PDCO	D	0.02%
CINF	A	0.02%
PAG	B	0.02%
HII	D	0.02%
VSCO	B	0.02%
ADNT	F	0.02%
CE	F	0.02%
EWBC	A	0.02%
HOG	D	0.02%
MCY	A	0.02%
AIR	B	0.02%
DLB	B	0.02%
VSTO	A	0.02%
BFAM	D	0.02%
FAF	A	0.02%
GHC	C	0.02%
AKAM	D	0.02%
MSA	D	0.02%
ORA	B	0.02%
DLTR	F	0.02%
NEU	C	0.02%
RYN	D	0.02%
HXL	D	0.02%
MTG	C	0.02%
CCL	B	0.02%
SVC	F	0.01%
QRVO	F	0.01%
AAP	C	0.01%
CPRI	F	0.01%
NOV	C	0.01%
KNX	B	0.01%
UHAL	D	0.01%
RKT	F	0.01%
JELD	F	0.01%
DINO	D	0.01%
SCL	C	0.01%
IGT	F	0.01%
PARA	C	0.01%
MLKN	D	0.01%
RVTY	F	0.01%
GIII	D	0.01%
WOR	F	0.01%
ELAN	D	0.01%
CACC	D	0.01%
ARI	C	0.01%
CNXN	C	0.01%
MKSI	C	0.01%
ECPG	B	0.01%
HTH	B	0.01%
IMKTA	C	0.01%
RDN	C	0.01%
ACI	C	0.01%
SEB	F	0.01%
WGO	C	0.01%
CLF	F	0.01%
JBGS	D	0.01%
ALEX	C	0.01%
XRX	F	0.01%
UVV	B	0.01%
UGI	A	0.01%
SPR	D	0.01%
SHO	C	0.01%
ARMK	B	0.01%
OUT	A	0.01%
AMED	F	0.01%
PNW	B	0.01%
SR	A	0.01%
CNS	B	0.01%
SSB	B	0.01%
ESI	A	0.01%
KALU	C	0.01%
SWX	B	0.01%
CVI	F	0.01%
CENTA	C	0.01%
OMI	F	0.01%
SAIC	F	0.01%
BRC	D	0.01%
PECO	A	0.01%
PB	A	0.01%
SIGI	C	0.01%
ARCH	B	0.01%
SPB	C	0.01%
LEA	D	0.01%
WAFD	B	0.01%
DY	D	0.01%
CROX	D	0.01%
FDP	B	0.01%
WMK	C	0.01%
DAN	D	0.01%
CNM	D	0.01%
CFR	B	0.01%
MHK	D	0.01%
FELE	B	0.01%
INCY	C	0.01%
PPC	C	0.01%
BBWI	D	0.01%
TPR	B	0.01%
KN	B	0.01%
STRA	C	0.01%
NNN	D	0.01%
DXC	B	0.01%
NNI	D	0.01%
ESNT	D	0.01%
GES	F	0.01%
FLR	B	0.01%
ESAB	B	0.01%
LADR	B	0.01%
ONB	B	0.01%
IDCC	A	0.01%
BMRN	D	0.01%
TTEK	F	0.01%
CBSH	A	0.01%
ICUI	D	0.01%
WWD	B	0.01%
MUR	D	0.01%
TNET	D	0.01%
CADE	B	0.01%
CWEN	C	0.01%
CSGS	B	0.01%
UHAL	D	0.01%
FHN	A	0.01%
FYBR	D	0.01%
H	B	0.01%
WTFC	A	0.01%
PSMT	C	0.01%
AMWD	C	0.01%
VNT	B	0.01%
CR	A	0.01%
ALGN	D	0.01%
ADC	B	0.01%
PTEN	C	0.01%
SLB	C	0.01%
SCS	C	0.01%
FR	C	0.01%
GOLF	B	0.01%
IOSP	B	0.01%
SAH	A	0.01%
DEI	B	0.01%
RBC	A	0.01%
HE	C	0.01%
VSH	D	0.01%
NOMD	D	0.0%
WOLF	F	0.0%
HUN	F	0.0%

MFUS Underweight 39 Positions Relative to NACP

Symbol	Grade	Weight
MSFT	F	-4.63%
GOOGL	C	-2.41%
TSLA	B	-2.22%
GOOG	C	-2.16%
ABT	B	-0.69%
HON	B	-0.46%
ETN	A	-0.44%
MDT	D	-0.42%
PLD	D	-0.42%
BA	F	-0.38%
MELI	D	-0.38%
DE	A	-0.36%
EQIX	A	-0.29%
TT	A	-0.29%
FDX	B	-0.25%
FCX	D	-0.25%
LNG	B	-0.16%
HES	B	-0.15%
EW	C	-0.15%
AME	A	-0.13%
VMC	B	-0.12%
XEL	A	-0.12%
ROK	B	-0.11%
DVN	F	-0.1%
WEC	A	-0.1%
PCG	A	-0.09%
DAL	C	-0.09%
APTV	D	-0.08%
LH	C	-0.07%
ILMN	D	-0.07%
SWK	D	-0.06%
LUV	C	-0.06%
DOC	D	-0.06%
TXT	D	-0.06%
BG	F	-0.05%
CF	B	-0.05%
REG	B	-0.04%
ALB	C	-0.04%
CNH	C	-0.03%