MFUS vs. ONEQ ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Fidelity Nasdaq Composite Index Tracking Stock (ONEQ)

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

ONEQ

Fidelity Nasdaq Composite Index Tracking Stock

ONEQ Description

ONEQ tracks only Nasdaq-listed companies and ignores those trading on the NYSE or other exchanges. The funds underlying index comprises all domestic and international companies listed in Nasdaq. ONEQs portfolio may favor technology firms, which in the past have dominated the Nasdaq market. This is at the expense of energy, industrials, financials and other industries. Its heavy weightings to large-cap firms may increase single-stock blowup risk. Much like the market it aims to track, ONEQ is essentially a growth play, carrying elevated P/E and P/B ratios and paying smaller dividends. This exposure has translated to higher market risk. ONEQ uses a sampling strategy to track its index, which is reconstituted and rebalanced daily.

Grade (RS Rating)

Last Trade

$74.95

Average Daily Volume

238,552

Number of Holdings ^*

830

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	ONEQ
30 Days	2.73%	4.10%
60 Days	3.41%	5.77%
90 Days	5.38%	6.51%
12 Months	32.49%	33.93%

217 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in ONEQ	Overlap
AAPL	C	0.96%	11.32%	0.96%
ADBE	C	0.04%	0.74%	0.04%
ADP	B	0.11%	0.4%	0.11%
ADSK	A	0.09%	0.21%	0.09%
AEP	D	0.08%	0.16%	0.08%
AGNC	D	0.04%	0.02%	0.02%
AKAM	D	0.02%	0.04%	0.02%
ALGN	D	0.01%	0.06%	0.01%
ALNY	D	0.06%	0.1%	0.06%
AMAT	F	0.55%	0.46%	0.46%
AMED	F	0.01%	0.01%	0.01%
AMGN	D	0.94%	0.5%	0.5%
AMKR	D	0.03%	0.02%	0.02%
AMWD	C	0.01%	0.01%	0.01%
AMZN	C	1.71%	7.05%	1.71%
ANDE	D	0.02%	0.01%	0.01%
ANSS	B	0.05%	0.09%	0.05%
APOG	B	0.02%	0.01%	0.01%
APP	B	0.11%	0.28%	0.11%
ASO	F	0.03%	0.01%	0.01%
AVGO	D	1.59%	2.53%	1.59%
AVT	C	0.04%	0.01%	0.01%
BHF	B	0.04%	0.01%	0.01%
BIIB	F	0.07%	0.08%	0.07%
BKNG	A	0.42%	0.54%	0.42%
BKR	B	0.08%	0.14%	0.08%
BMRN	D	0.01%	0.04%	0.01%
BRKR	D	0.02%	0.03%	0.02%
CACC	D	0.01%	0.02%	0.01%
CALM	A	0.09%	0.02%	0.02%
CASY	A	0.16%	0.05%	0.05%
CBSH	A	0.01%	0.03%	0.01%
CDW	F	0.03%	0.08%	0.03%
CEG	D	0.11%	0.23%	0.11%
CENTA	C	0.01%	0.01%	0.01%
CG	A	0.03%	0.06%	0.03%
CHRW	C	0.14%	0.04%	0.04%
CHTR	C	0.3%	0.19%	0.19%
CINF	A	0.02%	0.07%	0.02%
CMCSA	B	0.16%	0.54%	0.16%
CME	A	0.14%	0.27%	0.14%
CNXN	C	0.01%	0.01%	0.01%
COIN	C	0.1%	0.21%	0.1%
COKE	C	0.03%	0.03%	0.03%
COOP	B	0.05%	0.02%	0.02%
COST	B	1.35%	1.33%	1.33%
CPB	D	0.04%	0.04%	0.04%
CPRT	A	0.09%	0.18%	0.09%
CROX	D	0.01%	0.02%	0.01%
CRUS	D	0.04%	0.02%	0.02%
CSCO	B	0.68%	0.76%	0.68%
CSGS	B	0.01%	0.01%	0.01%
CSX	B	0.11%	0.21%	0.11%
CTAS	B	0.19%	0.27%	0.19%
CVLT	B	0.04%	0.03%	0.03%
DASH	A	0.11%	0.22%	0.11%
DLTR	F	0.03%	0.04%	0.03%
DORM	B	0.02%	0.02%	0.02%
DOX	D	0.03%	0.03%	0.03%
EA	A	0.18%	0.14%	0.14%
EBAY	D	0.36%	0.1%	0.1%
ECPG	B	0.01%	0.01%	0.01%
ERIE	D	0.04%	0.07%	0.04%
EVRG	A	0.02%	0.04%	0.02%
EWBC	A	0.02%	0.05%	0.02%
EXC	C	0.07%	0.13%	0.07%
EXEL	B	0.05%	0.04%	0.04%
FANG	D	0.05%	0.17%	0.05%
FAST	B	0.13%	0.16%	0.13%
FCNCA	A	0.06%	0.1%	0.06%
FELE	B	0.01%	0.02%	0.01%
FFIV	B	0.06%	0.04%	0.04%
FITB	A	0.04%	0.09%	0.04%
FLEX	A	0.05%	0.05%	0.05%
FOXA	B	0.11%	0.03%	0.03%
FTNT	C	0.07%	0.24%	0.07%
FYBR	D	0.01%	0.03%	0.01%
GEHC	F	0.07%	0.12%	0.07%
GEN	B	0.11%	0.06%	0.06%
GIII	D	0.01%	0.01%	0.01%
GILD	C	0.87%	0.36%	0.36%
GLPI	C	0.07%	0.04%	0.04%
GNTX	C	0.05%	0.02%	0.02%
GT	C	0.02%	0.01%	0.01%
HBAN	A	0.03%	0.08%	0.03%
HOLX	D	0.03%	0.06%	0.03%
HOOD	B	0.04%	0.08%	0.04%
HSIC	B	0.03%	0.03%	0.03%
HST	C	0.02%	0.04%	0.02%
HUBG	A	0.04%	0.01%	0.01%
IBKR	A	0.06%	0.07%	0.06%
ICUI	D	0.01%	0.02%	0.01%
IDCC	A	0.01%	0.01%	0.01%
IDXX	F	0.05%	0.11%	0.05%
IMKTA	C	0.01%	0.01%	0.01%
INCY	C	0.01%	0.05%	0.01%
INTC	D	0.2%	0.35%	0.2%
IOSP	B	0.02%	0.01%	0.01%
ISRG	A	0.29%	0.61%	0.29%
JBHT	C	0.02%	0.06%	0.02%
JBLU	F	0.02%	0.01%	0.01%
JKHY	D	0.1%	0.04%	0.04%
KALU	C	0.01%	0.01%	0.01%
KDP	D	0.07%	0.14%	0.07%
KHC	F	0.15%	0.12%	0.12%
KLAC	D	0.23%	0.27%	0.23%
LAMR	D	0.05%	0.03%	0.03%
LANC	C	0.04%	0.02%	0.02%
LAUR	A	0.02%	0.01%	0.01%
LBRDK	C	0.03%	0.04%	0.03%
LECO	B	0.06%	0.04%	0.04%
LNT	A	0.02%	0.05%	0.02%
LNW	D	0.02%	0.03%	0.02%
LOPE	B	0.05%	0.02%	0.02%
LPLA	A	0.07%	0.08%	0.07%
LRCX	F	0.17%	0.3%	0.17%
LSTR	D	0.09%	0.02%	0.02%
MANH	D	0.03%	0.06%	0.03%
MAR	B	0.04%	0.25%	0.04%
MASI	A	0.03%	0.03%	0.03%
MDLZ	F	0.23%	0.28%	0.23%
META	D	2.35%	4.0%	2.35%
MKSI	C	0.01%	0.02%	0.01%
MKTX	D	0.02%	0.04%	0.02%
MLKN	D	0.01%	0.01%	0.01%
MNST	C	0.07%	0.17%	0.07%
MORN	B	0.03%	0.05%	0.03%
MPWR	F	0.06%	0.09%	0.06%
MU	D	0.16%	0.35%	0.16%
NAVI	C	0.02%	0.01%	0.01%
NBIX	C	0.04%	0.04%	0.04%
NDAQ	A	0.05%	0.15%	0.05%
NDSN	B	0.04%	0.05%	0.04%
NFLX	A	0.52%	1.17%	0.52%
NSIT	F	0.05%	0.01%	0.01%
NTAP	C	0.1%	0.08%	0.08%
NTCT	C	0.02%	0.01%	0.01%
NTRS	A	0.03%	0.07%	0.03%
NVDA	C	1.9%	11.52%	1.9%
NWL	B	0.02%	0.02%	0.02%
NWSA	B	0.04%	0.04%	0.04%
NXST	C	0.05%	0.02%	0.02%
ODFL	B	0.02%	0.15%	0.02%
ODP	F	0.02%	0.01%	0.01%
ONB	B	0.01%	0.02%	0.01%
ORLY	B	0.2%	0.23%	0.2%
OSIS	B	0.02%	0.01%	0.01%
PANW	C	0.25%	0.41%	0.25%
PARA	C	0.01%	0.03%	0.01%
PAYX	C	0.04%	0.17%	0.04%
PDCO	D	0.02%	0.01%	0.01%
PECO	A	0.01%	0.02%	0.01%
PEP	F	0.74%	0.7%	0.7%
PFG	D	0.01%	0.06%	0.01%
PINC	B	0.03%	0.01%	0.01%
PLXS	B	0.03%	0.02%	0.02%
POOL	C	0.07%	0.04%	0.04%
PPC	C	0.01%	0.04%	0.01%
PSMT	C	0.01%	0.01%	0.01%
PTC	A	0.04%	0.07%	0.04%
PTEN	C	0.01%	0.01%	0.01%
PYPL	B	0.12%	0.29%	0.12%
QCOM	F	0.77%	0.59%	0.59%
QRVO	F	0.01%	0.02%	0.01%
REGN	F	0.36%	0.27%	0.27%
RGLD	C	0.04%	0.03%	0.03%
ROP	B	0.06%	0.19%	0.06%
RPRX	D	0.03%	0.04%	0.03%
RUSHA	C	0.04%	0.02%	0.02%
SAIC	F	0.01%	0.03%	0.01%
SANM	B	0.04%	0.02%	0.02%
SATS	D	0.01%	0.01%	0.01%
SBAC	D	0.03%	0.08%	0.03%
SBUX	A	0.09%	0.37%	0.09%
SEIC	B	0.09%	0.04%	0.04%
SFM	A	0.25%	0.05%	0.05%
SHOO	D	0.03%	0.01%	0.01%
SIGI	C	0.01%	0.02%	0.01%
SKYW	B	0.07%	0.02%	0.02%
SLM	A	0.06%	0.02%	0.02%
SMCI	F	0.05%	0.04%	0.04%
SSNC	B	0.02%	0.06%	0.02%
STLD	B	0.04%	0.07%	0.04%
STRA	C	0.01%	0.01%	0.01%
TER	D	0.03%	0.06%	0.03%
TMUS	B	0.43%	0.89%	0.43%
TROW	B	0.09%	0.08%	0.08%
TSCO	D	0.11%	0.1%	0.1%
TTEK	F	0.01%	0.04%	0.01%
TTMI	B	0.02%	0.01%	0.01%
TTWO	A	0.07%	0.1%	0.07%
TW	A	0.06%	0.05%	0.05%
TXN	C	0.29%	0.59%	0.29%
TXRH	C	0.06%	0.04%	0.04%
UAL	A	0.02%	0.1%	0.02%
UFPI	B	0.07%	0.02%	0.02%
ULTA	F	0.04%	0.05%	0.04%
URBN	C	0.05%	0.01%	0.01%
UTHR	C	0.19%	0.05%	0.05%
VC	D	0.03%	0.01%	0.01%
VIRT	B	0.06%	0.02%	0.02%
VRSK	A	0.16%	0.13%	0.13%
VRSN	F	0.04%	0.06%	0.04%
VRTX	F	0.22%	0.39%	0.22%
VTRS	A	0.14%	0.05%	0.05%
WAFD	B	0.01%	0.01%	0.01%
WBA	F	0.12%	0.02%	0.02%
WDC	D	0.08%	0.07%	0.07%
WEN	D	0.05%	0.01%	0.01%
WERN	C	0.04%	0.01%	0.01%
WTFC	A	0.01%	0.03%	0.01%
WTW	B	0.11%	0.11%	0.11%
WWD	B	0.01%	0.03%	0.01%
XRAY	F	0.02%	0.01%	0.01%
XRX	F	0.01%	0.01%	0.01%
ZBRA	B	0.04%	0.07%	0.04%
ZION	B	0.02%	0.03%	0.02%

MFUS Overweight 598 Positions Relative to ONEQ

Symbol	Grade	Weight
BRK.A	B	2.42%
LLY	F	2.39%
WMT	A	1.71%
ORCL	B	1.52%
ABBV	D	1.36%
JNJ	D	1.18%
IBM	C	1.05%
PG	A	1.01%
VZ	C	1.0%
KO	D	1.0%
JPM	A	0.99%
WFC	A	0.97%
PM	B	0.87%
MRK	F	0.84%
UNH	C	0.79%
LMT	D	0.75%
TGT	F	0.74%
MO	A	0.73%
T	A	0.73%
C	A	0.69%
CVS	D	0.65%
MCK	B	0.63%
HD	A	0.62%
MMM	D	0.6%
PGR	A	0.59%
PFE	D	0.57%
GE	D	0.56%
MCD	D	0.53%
UNP	C	0.51%
BAC	A	0.45%
XOM	B	0.43%
GS	A	0.41%
BMY	B	0.41%
GM	B	0.4%
CVX	A	0.39%
KR	B	0.38%
TJX	A	0.37%
NOW	A	0.36%
CL	D	0.35%
LOW	D	0.35%
NOC	D	0.35%
MPC	D	0.34%
AIG	B	0.34%
MET	A	0.32%
V	A	0.31%
SYF	B	0.31%
ICE	C	0.29%
COF	B	0.29%
SPGI	C	0.29%
THC	D	0.28%
WM	A	0.28%
MA	C	0.28%
HPQ	B	0.28%
TMO	F	0.28%
AZO	C	0.28%
CAH	B	0.27%
LHX	C	0.26%
ALL	A	0.26%
FICO	B	0.25%
ACN	C	0.25%
HCA	F	0.25%
ANF	C	0.25%
DHR	F	0.24%
GD	F	0.24%
UPS	C	0.24%
AON	A	0.24%
AXP	A	0.23%
PLTR	B	0.23%
PSX	C	0.23%
PRU	A	0.23%
VST	B	0.23%
RTX	C	0.22%
SHW	A	0.22%
NEE	D	0.22%
ADM	D	0.22%
MS	A	0.22%
UBER	D	0.21%
BBY	D	0.21%
LII	A	0.21%
AFL	B	0.21%
GWW	B	0.21%
MSI	B	0.2%
MMC	B	0.2%
GLW	B	0.2%
TRV	B	0.2%
BSX	B	0.2%
CAT	B	0.2%
CMG	B	0.2%
FI	A	0.19%
BLK	C	0.19%
TSN	B	0.18%
BK	A	0.18%
AMP	A	0.18%
WSM	B	0.18%
DECK	A	0.17%
HWM	A	0.17%
COR	B	0.17%
BR	A	0.17%
WSO	A	0.17%
GIS	D	0.17%
ELV	F	0.16%
NEM	D	0.16%
AJG	B	0.16%
RMD	C	0.16%
F	C	0.16%
DVA	B	0.16%
CB	C	0.16%
MUSA	A	0.16%
VLO	C	0.16%
KMB	D	0.16%
SPG	B	0.16%
TDG	D	0.15%
MCO	B	0.15%
BAH	F	0.15%
IT	C	0.15%
K	A	0.15%
LYB	F	0.15%
KKR	A	0.15%
ANET	C	0.14%
CMI	A	0.14%
PH	A	0.14%
BX	A	0.13%
SO	D	0.13%
DPZ	C	0.13%
EVR	B	0.13%
DUK	C	0.13%
JNPR	F	0.13%
RSG	A	0.13%
RPM	A	0.13%
AMT	D	0.13%
CI	F	0.13%
YUM	B	0.13%
IRM	D	0.12%
WELL	A	0.12%
PNC	B	0.12%
BRO	B	0.12%
GDDY	A	0.12%
PWR	A	0.12%
SYY	B	0.12%
APH	A	0.12%
CLX	B	0.12%
CW	B	0.11%
KMI	A	0.11%
TRGP	B	0.11%
EXPD	D	0.11%
USB	A	0.11%
CRS	A	0.11%
HPE	B	0.11%
ALSN	B	0.11%
EFX	F	0.11%
EXR	D	0.11%
BWXT	B	0.11%
LDOS	C	0.11%
BDX	F	0.11%
PHM	D	0.1%
OKE	A	0.1%
HLT	A	0.1%
AYI	B	0.1%
PKG	A	0.1%
JXN	C	0.1%
WMB	A	0.1%
DD	D	0.1%
ITW	B	0.1%
RCL	A	0.1%
DFS	B	0.1%
XYL	D	0.1%
AIZ	A	0.09%
TFC	A	0.09%
DGX	A	0.09%
TAP	C	0.09%
MLI	C	0.09%
EMR	A	0.09%
IEX	B	0.09%
DG	F	0.09%
ARES	A	0.09%
WCC	B	0.09%
IR	B	0.09%
DLR	B	0.09%
IP	B	0.09%
EHC	B	0.09%
CACI	D	0.09%
TMHC	B	0.09%
NVR	D	0.09%
URI	B	0.09%
AVY	D	0.09%
GPI	A	0.09%
PSA	D	0.09%
HRB	D	0.08%
LPX	B	0.08%
DKS	C	0.08%
AOS	F	0.08%
SLG	B	0.08%
ECL	D	0.08%
SRE	A	0.08%
NUE	C	0.08%
GPK	C	0.08%
ABG	B	0.08%
ATR	B	0.08%
TYL	B	0.08%
MTD	D	0.08%
HLI	B	0.08%
ITT	A	0.08%
EQH	B	0.08%
ROL	B	0.07%
MSCI	C	0.07%
SCI	B	0.07%
JCI	C	0.07%
EXP	A	0.07%
CHD	B	0.07%
CCI	D	0.07%
COP	C	0.07%
BCC	B	0.07%
INGR	B	0.07%
NSC	B	0.07%
D	C	0.07%
MLM	B	0.07%
GEO	B	0.07%
CNX	A	0.07%
VNO	B	0.07%
THO	B	0.07%
NRG	B	0.07%
R	B	0.07%
BALL	D	0.07%
AEO	F	0.07%
STE	F	0.07%
OTIS	C	0.07%
FIS	C	0.07%
HCC	B	0.07%
STZ	D	0.06%
G	B	0.06%
BC	C	0.06%
GAP	C	0.06%
SEE	C	0.06%
ATGE	B	0.06%
TPH	D	0.06%
BFH	B	0.06%
JLL	D	0.06%
NKE	D	0.06%
HIG	B	0.06%
GNRC	B	0.06%
CPT	B	0.06%
BERY	B	0.06%
KTB	B	0.06%
CHE	D	0.06%
CCK	C	0.06%
UHS	D	0.06%
CMC	B	0.06%
PEG	A	0.06%
MTH	D	0.06%
FIX	A	0.06%
LUMN	C	0.06%
MAS	D	0.06%
WU	D	0.06%
SQ	B	0.06%
L	A	0.06%
PK	B	0.06%
DHI	D	0.06%
TTC	D	0.06%
AMG	B	0.06%
AN	C	0.06%
RGA	A	0.06%
MSM	C	0.06%
OMC	C	0.06%
TOL	B	0.06%
LEN	D	0.06%
TDS	B	0.05%
NFG	A	0.05%
CNO	A	0.05%
PRIM	A	0.05%
THG	A	0.05%
AR	B	0.05%
ETR	B	0.05%
MOG.A	B	0.05%
SUI	D	0.05%
TGNA	B	0.05%
A	D	0.05%
WST	C	0.05%
MTN	C	0.05%
CBRE	B	0.05%
CARR	D	0.05%
CRI	D	0.05%
USFD	A	0.05%
SLGN	A	0.05%
EIX	B	0.05%
POST	C	0.05%
SCHW	B	0.05%
ZTS	D	0.05%
TEX	D	0.05%
KD	B	0.05%
CBT	C	0.05%
GVA	A	0.05%
HBI	B	0.05%
ALLY	C	0.05%
FCN	D	0.05%
WAB	B	0.05%
MMS	F	0.05%
HSY	F	0.05%
WAT	B	0.05%
BTU	B	0.05%
ED	D	0.05%
O	D	0.05%
MKC	D	0.05%
SON	D	0.04%
OSK	B	0.04%
XPO	B	0.04%
TKR	D	0.04%
EQR	B	0.04%
PPL	B	0.04%
AWI	A	0.04%
SEM	B	0.04%
AMH	D	0.04%
CXW	B	0.04%
ESS	B	0.04%
INVH	D	0.04%
SMG	D	0.04%
JWN	C	0.04%
CTVA	C	0.04%
PSTG	D	0.04%
BDC	B	0.04%
SLVM	B	0.04%
CLH	B	0.04%
FLO	D	0.04%
WH	B	0.04%
ELS	C	0.04%
FL	F	0.04%
MTB	A	0.04%
EMN	D	0.04%
OLN	D	0.04%
CFG	B	0.04%
ARW	D	0.04%
CAG	D	0.04%
CPNG	D	0.04%
TRN	C	0.04%
VTR	C	0.04%
BLDR	D	0.04%
FDS	B	0.04%
BAX	D	0.04%
CUBE	D	0.04%
SJM	D	0.04%
WTM	A	0.04%
OGN	D	0.04%
ATI	D	0.04%
IPG	D	0.04%
MAC	B	0.04%
GBX	A	0.04%
HEI	B	0.04%
FTI	A	0.04%
VLTO	D	0.04%
SIG	B	0.04%
MHO	D	0.04%
CNC	D	0.04%
GATX	A	0.04%
CRBG	B	0.04%
EME	C	0.04%
JHG	A	0.04%
CMA	A	0.04%
UNM	A	0.04%
RS	B	0.04%
PPG	F	0.04%
AROC	B	0.04%
ABM	B	0.04%
DCI	B	0.04%
DOV	A	0.04%
RRC	B	0.03%
HXL	D	0.03%
GMED	A	0.03%
DRH	B	0.03%
PNM	F	0.03%
ACA	A	0.03%
KMPR	B	0.03%
LZB	B	0.03%
KEY	B	0.03%
WPC	D	0.03%
HAE	C	0.03%
UNF	B	0.03%
APAM	B	0.03%
FNF	B	0.03%
MAN	D	0.03%
DK	C	0.03%
JEF	A	0.03%
COLD	D	0.03%
DRI	B	0.03%
BKE	B	0.03%
FHI	A	0.03%
MRO	B	0.03%
LNC	B	0.03%
AVTR	F	0.03%
OMF	A	0.03%
BURL	A	0.03%
X	C	0.03%
DELL	C	0.03%
UDR	B	0.03%
WHR	B	0.03%
OI	C	0.03%
PRG	C	0.03%
APLE	B	0.03%
IFF	D	0.03%
JBL	B	0.03%
AVB	B	0.03%
AVA	A	0.03%
DBRG	F	0.03%
CMS	C	0.03%
LW	C	0.03%
COHR	B	0.03%
RL	B	0.03%
FE	C	0.03%
GMS	B	0.03%
BKU	A	0.03%
CDP	C	0.03%
RLI	B	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%
HUBB	B	0.03%
CPAY	A	0.03%
MC	C	0.03%
MATX	C	0.03%
ES	D	0.03%
TPX	B	0.03%
NYT	C	0.03%
BJ	A	0.03%
ACM	A	0.03%
LXP	D	0.02%
SAH	A	0.02%
KEX	C	0.02%
LEG	F	0.02%
VSH	D	0.02%
KIM	A	0.02%
AA	B	0.02%
SF	B	0.02%
BHE	B	0.02%
GME	C	0.02%
WBS	A	0.02%
PHIN	A	0.02%
ATO	A	0.02%
BEN	C	0.02%
RF	A	0.02%
WAL	B	0.02%
CSL	C	0.02%
AXTA	A	0.02%
BXP	D	0.02%
APG	B	0.02%
DOW	F	0.02%
SNV	B	0.02%
NSP	D	0.02%
HP	B	0.02%
VFC	C	0.02%
DNOW	B	0.02%
DTE	C	0.02%
LAD	A	0.02%
REZI	A	0.02%
PMT	D	0.02%
HNI	B	0.02%
WKC	D	0.02%
HRL	D	0.02%
SNDR	B	0.02%
WMS	D	0.02%
PNR	A	0.02%
EPC	D	0.02%
M	D	0.02%
MAA	B	0.02%
AGCO	D	0.02%
KBR	F	0.02%
PFSI	D	0.02%
VVV	F	0.02%
THS	D	0.02%
RHI	B	0.02%
SKX	D	0.02%
CC	C	0.02%
DLB	B	0.02%
OHI	C	0.02%
MDU	D	0.02%
OC	A	0.02%
SXT	B	0.02%
RLJ	C	0.02%
YELP	C	0.02%
GWRE	A	0.02%
SAM	C	0.02%
CTLT	B	0.02%
PSN	D	0.02%
NI	A	0.02%
XHR	B	0.02%
PBF	D	0.02%
VSCO	B	0.02%
MCY	A	0.02%
AIR	B	0.02%
HOG	D	0.02%
CE	F	0.02%
FAF	A	0.02%
SBH	C	0.02%
PAG	B	0.02%
HII	D	0.02%
BFAM	D	0.02%
VSTO	A	0.02%
KSS	F	0.02%
PVH	C	0.02%
CCL	B	0.02%
RYN	D	0.02%
ADNT	F	0.02%
ORA	B	0.02%
MTG	C	0.02%
TFX	F	0.02%
GEF	A	0.02%
MSA	D	0.02%
WRB	A	0.02%
NEU	C	0.02%
GHC	C	0.02%
STC	B	0.02%
SVC	F	0.01%
AAP	C	0.01%
CPRI	F	0.01%
NOV	C	0.01%
KNX	B	0.01%
RKT	F	0.01%
UHAL	D	0.01%
JELD	F	0.01%
DINO	D	0.01%
SCL	C	0.01%
IGT	F	0.01%
RVTY	F	0.01%
ARI	C	0.01%
WOR	F	0.01%
ELAN	D	0.01%
SPR	D	0.01%
CLF	F	0.01%
ACI	C	0.01%
UGI	A	0.01%
ALEX	C	0.01%
UVV	B	0.01%
JBGS	D	0.01%
HTH	B	0.01%
SEB	F	0.01%
RDN	C	0.01%
SR	A	0.01%
ARMK	B	0.01%
OUT	A	0.01%
PNW	B	0.01%
SHO	C	0.01%
WGO	C	0.01%
CNS	B	0.01%
SSB	B	0.01%
SWX	B	0.01%
ESI	A	0.01%
CVI	F	0.01%
MOS	F	0.01%
ARCH	B	0.01%
PB	A	0.01%
CNM	D	0.01%
OMI	F	0.01%
FDP	B	0.01%
LEA	D	0.01%
BRC	D	0.01%
DY	D	0.01%
SPB	C	0.01%
NNN	D	0.01%
AES	F	0.01%
CFR	B	0.01%
DAN	D	0.01%
WMK	C	0.01%
MHK	D	0.01%
FLR	B	0.01%
KN	B	0.01%
BBWI	D	0.01%
ESNT	D	0.01%
TPR	B	0.01%
DXC	B	0.01%
LADR	B	0.01%
NNI	D	0.01%
GES	F	0.01%
ESAB	B	0.01%
CWEN	C	0.01%
MUR	D	0.01%
CR	A	0.01%
TNET	D	0.01%
HE	C	0.01%
CADE	B	0.01%
FHN	A	0.01%
ADC	B	0.01%
H	B	0.01%
RBC	A	0.01%
UHAL	D	0.01%
BWA	D	0.01%
SLB	C	0.01%
GOLF	B	0.01%
FR	C	0.01%
DTM	B	0.01%
DEI	B	0.01%
SCS	C	0.01%
VNT	B	0.01%
TDC	D	0.01%
SCCO	F	0.0%
NOMD	D	0.0%
WOLF	F	0.0%
HUN	F	0.0%

MFUS Underweight 613 Positions Relative to ONEQ

Symbol	Grade	Weight
MSFT	F	-10.23%
TSLA	B	-3.4%
GOOGL	C	-3.35%
GOOG	C	-3.22%
AMD	F	-0.72%
LIN	D	-0.69%
INTU	C	-0.63%
HON	B	-0.49%
ADI	D	-0.34%
MELI	D	-0.32%
EQIX	A	-0.28%
CRWD	B	-0.26%
CDNS	B	-0.26%
SNPS	B	-0.26%
MRVL	B	-0.25%
PDD	F	-0.25%
ASML	F	-0.21%
MSTR	C	-0.2%
ABNB	C	-0.19%
PCAR	B	-0.19%
NXPI	D	-0.18%
WDAY	B	-0.18%
TTD	B	-0.17%
ROST	C	-0.15%
AXON	A	-0.14%
CTSH	B	-0.13%
DDOG	A	-0.13%
TEAM	A	-0.13%
ACGL	D	-0.13%
XEL	A	-0.13%
AZN	D	-0.12%
LULU	C	-0.12%
MCHP	D	-0.11%
CCEP	C	-0.11%
ON	D	-0.1%
ZS	C	-0.1%
CSGP	D	-0.1%
DXCM	D	-0.1%
GFS	C	-0.08%
WBD	C	-0.08%
TCOM	B	-0.08%
FSLR	F	-0.07%
STX	D	-0.07%
ZM	B	-0.07%
MDB	C	-0.07%
EXPE	B	-0.07%
ILMN	D	-0.07%
TRMB	B	-0.06%
NTNX	A	-0.06%
JD	D	-0.06%
NTRA	B	-0.06%
ARGX	A	-0.06%
GRAB	B	-0.06%
PODD	C	-0.06%
DKNG	B	-0.06%
CHKP	D	-0.06%
BSY	D	-0.05%
SAIA	B	-0.05%
MRNA	F	-0.05%
ENTG	D	-0.05%
SNY	F	-0.05%
DOCU	A	-0.05%
AFRM	B	-0.05%
ICLR	D	-0.05%
SOFI	A	-0.05%
ARM	D	-0.05%
RIVN	F	-0.04%
TECH	D	-0.04%
NTES	D	-0.04%
DUOL	A	-0.04%
AAON	B	-0.04%
PAA	B	-0.04%
PCTY	B	-0.04%
RKLB	B	-0.04%
BIDU	F	-0.04%
LOGI	D	-0.04%
OKTA	C	-0.04%
SWKS	F	-0.04%
MNDY	C	-0.04%
Z	A	-0.04%
SMMT	D	-0.04%
CYBR	B	-0.04%
REG	B	-0.04%
CZR	F	-0.03%
BOKF	B	-0.03%
CSWI	A	-0.03%
COLB	A	-0.03%
CHRD	D	-0.03%
GLBE	B	-0.03%
PNFP	B	-0.03%
APA	D	-0.03%
GTLB	B	-0.03%
OTEX	D	-0.03%
FRHC	B	-0.03%
ENPH	F	-0.03%
PEGA	A	-0.03%
ROIV	C	-0.03%
MTCH	D	-0.03%
SIRI	C	-0.03%
HLNE	B	-0.03%
NICE	C	-0.03%
ROKU	D	-0.03%
FOX	A	-0.03%
AAL	B	-0.03%
HQY	B	-0.03%
ITCI	C	-0.03%
HAS	D	-0.03%
WYNN	D	-0.03%
MEDP	D	-0.03%
LKQ	D	-0.03%
WING	D	-0.03%
CHDN	B	-0.03%
BGNE	D	-0.03%
EXAS	D	-0.03%
RVMD	C	-0.03%
FUTU	D	-0.03%
PCVX	D	-0.03%
INSM	C	-0.03%
MTSI	B	-0.03%
BNTX	D	-0.03%
SRPT	D	-0.03%
WIX	B	-0.03%
ARLP	A	-0.02%
CLBT	B	-0.02%
SFNC	B	-0.02%
VERX	B	-0.02%
GSHD	A	-0.02%
OZK	B	-0.02%
WDFC	B	-0.02%
VRRM	D	-0.02%
TBBK	B	-0.02%
GH	B	-0.02%
TGTX	B	-0.02%
FTDR	A	-0.02%
WSFS	A	-0.02%
AUR	C	-0.02%
CCOI	B	-0.02%
GLNG	C	-0.02%
QFIN	B	-0.02%
MGEE	C	-0.02%
FRSH	C	-0.02%
ALGM	D	-0.02%
IPAR	B	-0.02%
CVCO	A	-0.02%
PI	D	-0.02%
CATY	B	-0.02%
BLKB	B	-0.02%
APPF	B	-0.02%
AEIS	B	-0.02%
KRYS	B	-0.02%
KTOS	B	-0.02%
NWS	B	-0.02%
LI	F	-0.02%
ALKT	B	-0.02%
CHCI	D	-0.02%
COLM	B	-0.02%
BBIO	F	-0.02%
ACLX	C	-0.02%
CRNX	C	-0.02%
VICR	B	-0.02%
BANF	B	-0.02%
LNTH	D	-0.02%
TFSL	A	-0.02%
FIVE	F	-0.02%
SBRA	C	-0.02%
AXSM	B	-0.02%
SHC	F	-0.02%
FIZZ	C	-0.02%
BPMC	C	-0.02%
BGC	C	-0.02%
PAYO	A	-0.02%
TCBI	B	-0.02%
ALKS	B	-0.02%
IEP	F	-0.02%
WMG	C	-0.02%
VCTR	B	-0.02%
ROAD	A	-0.02%
DJT	C	-0.02%
EEFT	B	-0.02%
IBOC	A	-0.02%
INTA	A	-0.02%
TIGO	D	-0.02%
NUVL	D	-0.02%
USLM	A	-0.02%
IONS	F	-0.02%
VKTX	F	-0.02%
NCNO	B	-0.02%
PRCT	B	-0.02%
ITRI	B	-0.02%
QLYS	C	-0.02%
EXPO	D	-0.02%
HALO	F	-0.02%
BECN	B	-0.02%
STEP	B	-0.02%
CYTK	F	-0.02%
RMBS	C	-0.02%
VRNS	D	-0.02%
TENB	C	-0.02%
VLY	B	-0.02%
BPOP	B	-0.02%
SITM	B	-0.02%
CHX	C	-0.02%
LCID	F	-0.02%
DBX	B	-0.02%
HWC	B	-0.02%
ALTR	B	-0.02%
CELH	F	-0.02%
ETSY	D	-0.02%
CWST	A	-0.02%
REYN	D	-0.02%
MMSI	B	-0.02%
HTHT	D	-0.02%
WFRD	D	-0.02%
MARA	C	-0.02%
ACT	D	-0.02%
AVAV	D	-0.02%
RDNT	B	-0.02%
UBSI	B	-0.02%
QXO	D	-0.02%
LFUS	F	-0.02%
WSC	D	-0.02%
LITE	B	-0.02%
OLLI	D	-0.02%
UPST	B	-0.02%
STRL	B	-0.02%
ACIW	B	-0.02%
CGNX	C	-0.02%
RCM	F	-0.02%
BCPC	B	-0.02%
MDGL	B	-0.02%
CORT	B	-0.02%
IESC	B	-0.02%
UMBF	B	-0.02%
CFLT	B	-0.02%
RGEN	D	-0.02%
EXLS	B	-0.02%
NOVT	D	-0.02%
ENSG	D	-0.02%
XP	F	-0.02%
CRVL	A	-0.02%
MAT	D	-0.02%
MMYT	B	-0.02%
CRDO	B	-0.02%
TPG	A	-0.02%
MIDD	C	-0.02%
FRPT	B	-0.02%
OLED	D	-0.02%
LYFT	C	-0.02%
SPSC	C	-0.02%
LSCC	D	-0.02%
JAZZ	B	-0.02%
ASND	D	-0.02%
FFIN	B	-0.02%
COLL	F	-0.01%
SRAD	A	-0.01%
BFST	C	-0.01%
KRUS	B	-0.01%
WOOF	D	-0.01%
BLMN	F	-0.01%
PGNY	F	-0.01%
LQDA	D	-0.01%
PSNY	F	-0.01%
GRFS	C	-0.01%
JACK	D	-0.01%
IQ	F	-0.01%
CNTA	B	-0.01%
BCYC	F	-0.01%
BLBD	D	-0.01%
GSM	D	-0.01%
CNSL	C	-0.01%
SAVA	D	-0.01%
MOMO	D	-0.01%
EBTC	B	-0.01%
EMBC	C	-0.01%
GDEN	B	-0.01%
BVS	D	-0.01%
LILAK	D	-0.01%
TRS	B	-0.01%
COGT	D	-0.01%
MATW	C	-0.01%
EYE	C	-0.01%
BCBP	A	-0.01%
CLOV	D	-0.01%
MYGN	F	-0.01%
RCKT	F	-0.01%
SDGR	C	-0.01%
BMBL	C	-0.01%
TRNS	D	-0.01%
MGPI	F	-0.01%
ARDX	F	-0.01%
PYCR	C	-0.01%
AMRK	F	-0.01%
PLUG	F	-0.01%
ICHR	C	-0.01%
TTGT	C	-0.01%
TRDA	B	-0.01%
STAA	F	-0.01%
ASTL	B	-0.01%
KC	A	-0.01%
VRNT	C	-0.01%
HROW	D	-0.01%
NSSC	D	-0.01%
VITL	D	-0.01%
SPRY	D	-0.01%
AOSL	C	-0.01%
THRM	D	-0.01%
IRON	B	-0.01%
TLRY	F	-0.01%
PLAY	D	-0.01%
SCVL	F	-0.01%
OPK	C	-0.01%
CBRL	C	-0.01%
NVEE	F	-0.01%
ISTR	B	-0.01%
COHU	C	-0.01%
TH	C	-0.01%
IMCR	D	-0.01%
PLYA	B	-0.01%
FFIC	B	-0.01%
VIR	D	-0.01%
AVAH	B	-0.01%
WASH	C	-0.01%
GLUE	C	-0.01%
PDFS	C	-0.01%
OLPX	D	-0.01%
HTLD	B	-0.01%
IBUY	A	-0.01%
KURA	F	-0.01%
CLDX	F	-0.01%
ANIP	F	-0.01%
CEVA	B	-0.01%
VECO	F	-0.01%
FWRD	D	-0.01%
MLCO	F	-0.01%
HAFC	A	-0.01%
RNW	D	-0.01%
AVO	C	-0.01%
SPT	C	-0.01%
CMCO	B	-0.01%
FWRG	C	-0.01%
TXG	F	-0.01%
CNDT	C	-0.01%
VRDN	D	-0.01%
BCRX	D	-0.01%
BASE	C	-0.01%
FLYW	C	-0.01%
DOOO	F	-0.01%
PFC	A	-0.01%
SOUN	C	-0.01%
DAWN	F	-0.01%
UCTT	D	-0.01%
TNDM	F	-0.01%
SNDX	F	-0.01%
MRTN	C	-0.01%
SIMO	D	-0.01%
UDMY	F	-0.01%
WB	D	-0.01%
SABR	C	-0.01%
AHCO	F	-0.01%
HLIT	D	-0.01%
LBRDA	C	-0.01%
SPNS	F	-0.01%
INMD	C	-0.01%
PLAB	C	-0.01%
KRNT	C	-0.01%
RDWR	B	-0.01%
TVTX	B	-0.01%
DLO	C	-0.01%
SCSC	B	-0.01%
FTRE	D	-0.01%
INFN	C	-0.01%
INVA	D	-0.01%
UNIT	B	-0.01%
HBNC	B	-0.01%
CRAI	B	-0.01%
ARVN	D	-0.01%
MBUU	C	-0.01%
QNST	B	-0.01%
WABC	B	-0.01%
SAFT	C	-0.01%
ACLS	F	-0.01%
IAS	C	-0.01%
MCRI	A	-0.01%
ATEX	D	-0.01%
WINA	B	-0.01%
ENVX	F	-0.01%
HAIN	C	-0.01%
IREN	C	-0.01%
PCT	C	-0.01%
TWST	D	-0.01%
NVCR	C	-0.01%
RXST	F	-0.01%
CRTO	C	-0.01%
NEO	C	-0.01%
AMSF	B	-0.01%
FA	C	-0.01%
PEBO	A	-0.01%
MSEX	B	-0.01%
PFBC	B	-0.01%
TCBK	B	-0.01%
ULH	B	-0.01%
NEXT	B	-0.01%
AKRO	B	-0.01%
AZTA	D	-0.01%
GDYN	B	-0.01%
UPBD	B	-0.01%
PAGP	A	-0.01%
AXNX	C	-0.01%
AUPH	B	-0.01%
SBLK	F	-0.01%
DGII	B	-0.01%
HRMY	D	-0.01%
MNKD	C	-0.01%
HTZ	C	-0.01%
OCFC	B	-0.01%
MQ	F	-0.01%
ERII	D	-0.01%
RUN	F	-0.01%
CHEF	A	-0.01%
LBPH	A	-0.01%
PTGX	C	-0.01%
AY	B	-0.01%
ATSG	B	-0.01%
DVAX	C	-0.01%
TARS	B	-0.01%
BUSE	B	-0.01%
DNUT	D	-0.01%
TMDX	F	-0.01%
VSEC	C	-0.01%
RRR	D	-0.01%
IDYA	F	-0.01%
TRMD	F	-0.01%
GTX	D	-0.01%
BEAM	D	-0.01%
GABC	B	-0.01%
LKFN	B	-0.01%
ZLAB	C	-0.01%
INBK	B	-0.01%
JANX	C	-0.01%
HPK	B	-0.01%
RIOT	C	-0.01%
LGIH	D	-0.01%
ULCC	D	-0.01%
GERN	D	-0.01%
KYMR	D	-0.01%
DYN	F	-0.01%
IOVA	F	-0.01%
CMPR	D	-0.01%
ASTH	D	-0.01%
DIOD	D	-0.01%
VMEO	B	-0.01%
MBIN	D	-0.01%
VERA	B	-0.01%
APPN	B	-0.01%
ATAT	C	-0.01%
NWBI	B	-0.01%
ROIC	A	-0.01%
JAMF	F	-0.01%
EXTR	B	-0.01%
ADUS	D	-0.01%
BILI	D	-0.01%
CAKE	C	-0.01%
EVCM	B	-0.01%
HOPE	B	-0.01%
SUPN	C	-0.01%
STBA	B	-0.01%
CPRX	C	-0.01%
XNCR	B	-0.01%
CNXC	F	-0.01%
PTVE	B	-0.01%
GDS	C	-0.01%
YY	C	-0.01%
PLUS	F	-0.01%
PRDO	B	-0.01%
ROCK	C	-0.01%
RPD	C	-0.01%
IRTC	D	-0.01%
VBTX	B	-0.01%
SASR	B	-0.01%
CHCO	B	-0.01%
XPEL	C	-0.01%
DCOM	A	-0.01%
LGND	B	-0.01%
NMRK	B	-0.01%
CGON	F	-0.01%
ALHC	C	-0.01%
PRVA	B	-0.01%
ARWR	F	-0.01%
WSBC	A	-0.01%
NNBR	C	-0.01%
CAR	C	-0.01%
ARCB	C	-0.01%
CLBK	B	-0.01%
SYBT	B	-0.01%
AMRX	C	-0.01%
OSW	A	-0.01%
SBCF	A	-0.01%
FLNC	C	-0.01%
AMPH	D	-0.01%
FRME	B	-0.01%
VRNA	B	-0.01%
UFPT	B	-0.01%
WULF	C	-0.01%
CASH	A	-0.01%
MGNI	A	-0.01%
KROS	D	-0.01%
GOGL	F	-0.01%
CIFR	B	-0.01%
HURN	B	-0.01%
CLSK	C	-0.01%
VCYT	B	-0.01%
OPCH	D	-0.01%
TRUP	B	-0.01%
FORM	D	-0.01%
FIVN	C	-0.01%
STNE	F	-0.01%
EFSC	B	-0.01%
FBNC	A	-0.01%
HEES	B	-0.01%
KLIC	B	-0.01%
SKWD	A	-0.01%
LIVN	F	-0.01%
TRMK	B	-0.01%
NWE	B	-0.01%
LMAT	A	-0.01%
ICFI	F	-0.01%
MYRG	B	-0.01%
ALRM	C	-0.01%
VIAV	B	-0.01%
FFBC	A	-0.01%
APLS	D	-0.01%
MRUS	F	-0.01%
SMTC	B	-0.01%
TFIN	A	-0.01%
CENX	B	-0.01%
PLTK	B	-0.01%
MIRM	B	-0.01%
HCP	B	-0.01%
GGAL	C	-0.01%
ASTE	B	-0.01%
FROG	C	-0.01%
EWTX	C	-0.01%
SWTX	C	-0.01%
EXPI	C	-0.01%
NBTB	B	-0.01%
BRZE	C	-0.01%
SYNA	C	-0.01%
VCEL	B	-0.01%
ERIC	B	-0.01%
MRCY	B	-0.01%
SGRY	F	-0.01%
BANR	B	-0.01%
OMCL	C	-0.01%
SRRK	B	-0.01%
MGRC	B	-0.01%
NPAB	B	-0.01%
PPBI	B	-0.01%
PATK	D	-0.01%
ACAD	D	-0.01%
ACHC	F	-0.01%
ATRC	C	-0.01%
INDB	B	-0.01%
NARI	C	-0.01%
FOLD	F	-0.01%
PLMR	B	-0.01%
RBCAA	B	-0.01%
ZD	C	-0.01%
NEOG	F	-0.01%
PRGS	A	-0.01%
ZG	A	-0.01%
HWKN	B	-0.01%
TOWN	B	-0.01%
BL	B	-0.01%
LEGN	F	-0.01%
RNA	D	-0.01%
SLAB	D	-0.01%
ESGR	B	-0.01%
VOD	F	-0.01%
POWI	D	-0.01%
CARG	C	-0.01%
OTTR	C	-0.01%
WVE	C	-0.01%
IAC	D	-0.01%
IRDM	D	-0.01%
FULT	A	-0.01%
XENE	D	-0.01%
JJSF	B	-0.01%
PTCT	B	-0.01%
IBTX	B	-0.01%
NMIH	D	-0.01%
PENN	C	-0.01%
BZ	F	-0.01%
DRVN	B	-0.01%
AMBA	B	-0.01%
LFST	C	-0.01%
ACVA	B	-0.01%
ADMA	B	-0.01%
RYTM	C	-0.01%
CVBF	A	-0.01%
EBC	B	-0.01%
DNLI	D	-0.01%
AGIO	C	-0.01%
RARE	D	-0.01%
HTLF	B	-0.01%
PCH	D	-0.01%
FIBK	A	-0.01%
SMPL	B	-0.01%
SNEX	B	-0.01%
FHB	A	-0.01%
IMVT	F	-0.01%
CRSP	D	-0.01%
AGYS	A	-0.01%
POWL	C	-0.01%