MFUS vs. QARP ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Xtrackers Russell 1000 US QARP ETF (QARP)

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

QARP

Xtrackers Russell 1000 US QARP ETF

QARP Description

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 2Qual/Val 5% Capped Factor Index (the "underlying index"). The fund will invest at least 80% of its total assets (but typically far more) in component securities of the underlying index. The underlying index is designed to track the equity market performance of companies in the United States selected on the investment style criteria ("factors") of quality and value. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$51.90

Average Daily Volume

19,310

Number of Holdings ^*

344

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	QARP
30 Days	3.10%	2.69%
60 Days	4.82%	3.89%
90 Days	5.74%	5.41%
12 Months	28.93%	24.09%

269 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in QARP	Overlap
A	C	0.05%	0.1%	0.05%
AAPL	C	0.67%	5.0%	0.67%
ABBV	C	1.34%	0.02%	0.02%
ACI	F	0.01%	0.06%	0.01%
ACM	B	0.04%	0.03%	0.03%
ACN	C	0.19%	1.2%	0.19%
ADBE	F	0.04%	1.05%	0.04%
ADM	D	0.32%	0.32%	0.32%
ADP	B	0.09%	0.21%	0.09%
ADSK	C	0.09%	0.06%	0.06%
AGCO	D	0.02%	0.06%	0.02%
ALGN	D	0.02%	0.05%	0.02%
ALSN	B	0.08%	0.03%	0.03%
AMAT	D	0.44%	0.78%	0.44%
AMG	C	0.05%	0.09%	0.05%
AMGN	B	1.03%	0.03%	0.03%
AMZN	C	1.27%	3.6%	1.27%
ANET	B	0.12%	0.11%	0.11%
AON	B	0.19%	0.33%	0.19%
AOS	D	0.11%	0.07%	0.07%
AR	F	0.04%	0.02%	0.02%
AYI	B	0.07%	0.06%	0.06%
AZO	D	0.3%	0.36%	0.3%
BBWI	F	0.02%	0.02%	0.02%
BBY	C	0.24%	0.26%	0.24%
BIIB	F	0.08%	0.02%	0.02%
BJ	D	0.03%	0.1%	0.03%
BKNG	C	0.47%	0.65%	0.47%
BKR	C	0.16%	0.08%	0.08%
BLD	D	0.03%	0.05%	0.03%
BLDR	C	0.04%	0.17%	0.04%
BMY	C	0.28%	0.55%	0.28%
BRK.A	C	2.01%	5.43%	2.01%
BURL	B	0.03%	0.04%	0.03%
BWA	D	0.05%	0.06%	0.05%
BX	B	0.23%	0.05%	0.05%
CAH	C	0.35%	0.4%	0.35%
CASY	D	0.15%	0.12%	0.12%
CAT	B	0.41%	0.61%	0.41%
CCL	C	0.05%	0.03%	0.03%
CDW	D	0.05%	0.02%	0.02%
CE	F	0.07%	0.04%	0.04%
CHE	C	0.06%	0.04%	0.04%
CHRD	F	0.02%	0.05%	0.02%
CHRW	B	0.09%	0.06%	0.06%
CHTR	D	0.24%	0.12%	0.12%
CI	C	0.14%	0.64%	0.14%
CINF	B	0.02%	0.09%	0.02%
CL	D	0.33%	0.26%	0.26%
CLX	C	0.15%	0.07%	0.07%
CMCSA	D	0.24%	0.82%	0.24%
CMG	C	0.22%	0.1%	0.1%
CMI	C	0.11%	0.23%	0.11%
CNM	F	0.01%	0.04%	0.01%
COF	B	0.42%	0.13%	0.13%
COIN	F	0.06%	0.03%	0.03%
COKE	C	0.03%	0.04%	0.03%
COP	D	0.3%	0.76%	0.3%
COST	B	1.21%	2.39%	1.21%
CPB	C	0.01%	0.03%	0.01%
CPNG	B	0.03%	0.1%	0.03%
CPRT	D	0.19%	0.06%	0.06%
CRUS	D	0.05%	0.03%	0.03%
CSCO	C	0.42%	1.77%	0.42%
CSL	B	0.01%	0.05%	0.01%
CSX	D	0.08%	0.07%	0.07%
CTAS	B	0.18%	0.08%	0.08%
CTRA	D	0.02%	0.1%	0.02%
CTVA	B	0.03%	0.02%	0.02%
CVS	D	0.8%	0.2%	0.2%
CVX	D	0.79%	1.39%	0.79%
DCI	C	0.04%	0.04%	0.04%
DD	B	0.21%	0.02%	0.02%
DECK	C	0.17%	0.12%	0.12%
DGX	B	0.06%	0.03%	0.03%
DINO	F	0.03%	0.02%	0.02%
DKS	D	0.09%	0.1%	0.09%
DLTR	F	0.02%	0.07%	0.02%
DOW	D	0.04%	0.08%	0.04%
DOX	C	0.03%	0.07%	0.03%
DPZ	F	0.18%	0.03%	0.03%
DRI	B	0.03%	0.13%	0.03%
EA	D	0.09%	0.19%	0.09%
EBAY	B	0.34%	0.09%	0.09%
ELV	C	0.08%	0.67%	0.08%
EME	B	0.03%	0.12%	0.03%
EOG	D	0.11%	0.47%	0.11%
EVR	A	0.12%	0.09%	0.09%
EXEL	C	0.02%	0.03%	0.02%
EXP	B	0.05%	0.05%	0.05%
EXPD	C	0.07%	0.14%	0.07%
FANG	D	0.04%	0.19%	0.04%
FAST	C	0.1%	0.19%	0.1%
FCN	D	0.07%	0.03%	0.03%
FCNCA	D	0.05%	0.13%	0.05%
FCX	D	0.09%	0.04%	0.04%
FDS	C	0.05%	0.1%	0.05%
FFIV	B	0.04%	0.05%	0.04%
FICO	B	0.22%	0.06%	0.06%
FIX	B	0.05%	0.03%	0.03%
FND	C	0.03%	0.05%	0.03%
FOXA	B	0.08%	0.03%	0.03%
FTNT	C	0.06%	0.18%	0.06%
G	C	0.05%	0.03%	0.03%
GAP	F	0.07%	0.03%	0.03%
GEHC	C	0.02%	0.15%	0.02%
GGG	C	0.04%	0.07%	0.04%
GILD	B	0.78%	0.31%	0.31%
GIS	B	0.11%	0.11%	0.11%
GLPI	C	0.07%	0.03%	0.03%
GM	C	0.56%	0.21%	0.21%
GNTX	F	0.06%	0.04%	0.04%
GOOGL	D	1.17%	2.12%	1.17%
GPC	D	0.02%	0.08%	0.02%
GWW	B	0.17%	0.24%	0.17%
HAL	F	0.04%	0.06%	0.04%
HCA	B	0.13%	0.32%	0.13%
HD	B	0.39%	1.94%	0.39%
HII	D	0.02%	0.03%	0.02%
HLI	B	0.08%	0.03%	0.03%
HOLX	B	0.03%	0.05%	0.03%
HPQ	D	0.27%	0.08%	0.08%
HRB	C	0.09%	0.09%	0.09%
HST	C	0.02%	0.03%	0.02%
HSY	C	0.06%	0.1%	0.06%
INCY	C	0.01%	0.06%	0.01%
INGR	B	0.06%	0.04%	0.04%
INTC	F	0.36%	0.07%	0.07%
IP	B	0.12%	0.04%	0.04%
ITT	B	0.08%	0.04%	0.04%
ITW	C	0.08%	0.31%	0.08%
JBHT	D	0.02%	0.05%	0.02%
JBL	D	0.07%	0.05%	0.05%
JHG	B	0.03%	0.02%	0.02%
JKHY	B	0.1%	0.05%	0.05%
JNJ	C	1.03%	2.71%	1.03%
JNPR	B	0.13%	0.04%	0.04%
K	B	0.1%	0.06%	0.06%
KLAC	D	0.23%	0.2%	0.2%
KMB	D	0.16%	0.18%	0.16%
KNX	C	0.01%	0.03%	0.01%
KR	C	0.34%	0.28%	0.28%
LAMR	B	0.05%	0.03%	0.03%
LEA	F	0.03%	0.05%	0.03%
LECO	F	0.08%	0.04%	0.04%
LEN	B	0.08%	0.45%	0.08%
LLY	C	2.48%	0.04%	0.04%
LMT	C	0.52%	0.81%	0.52%
LOPE	D	0.05%	0.03%	0.03%
LOW	B	0.23%	0.76%	0.23%
LPLA	D	0.07%	0.14%	0.07%
LPX	B	0.06%	0.03%	0.03%
LRCX	F	0.27%	0.46%	0.27%
LSTR	D	0.08%	0.05%	0.05%
LVS	D	0.01%	0.04%	0.01%
LYB	D	0.21%	0.11%	0.11%
M	F	0.04%	0.02%	0.02%
MA	B	0.79%	1.57%	0.79%
MAR	C	0.11%	0.11%	0.11%
MAS	B	0.06%	0.08%	0.06%
MCD	B	0.4%	0.41%	0.4%
MCK	F	0.51%	1.01%	0.51%
MCO	B	0.03%	0.35%	0.03%
META	B	2.02%	4.8%	2.02%
MHK	C	0.01%	0.03%	0.01%
MKTX	C	0.02%	0.05%	0.02%
MMC	C	0.19%	0.61%	0.19%
MMM	B	0.41%	0.12%	0.12%
MNST	D	0.06%	0.14%	0.06%
MO	C	0.52%	0.65%	0.52%
MOH	D	0.03%	0.07%	0.03%
MOS	F	0.04%	0.04%	0.04%
MPC	F	0.64%	0.28%	0.28%
MRK	D	0.87%	0.4%	0.4%
MRO	C	0.1%	0.11%	0.1%
MSCI	C	0.07%	0.22%	0.07%
MSM	D	0.06%	0.03%	0.03%
MTD	D	0.08%	0.11%	0.08%
MTG	B	0.04%	0.12%	0.04%
MU	F	0.15%	0.32%	0.15%
MUSA	D	0.17%	0.06%	0.06%
NEU	D	0.03%	0.02%	0.02%
NKE	D	0.04%	0.34%	0.04%
NTAP	D	0.08%	0.06%	0.06%
NUE	F	0.08%	0.37%	0.08%
NVDA	D	1.6%	0.14%	0.14%
NVR	B	0.07%	0.23%	0.07%
NYT	C	0.05%	0.04%	0.04%
OC	D	0.07%	0.11%	0.07%
ODFL	D	0.02%	0.17%	0.02%
OLN	D	0.04%	0.03%	0.03%
ORCL	C	1.13%	0.04%	0.04%
ORLY	C	0.18%	0.37%	0.18%
OSK	F	0.07%	0.03%	0.03%
OTIS	C	0.07%	0.04%	0.04%
PAYX	C	0.03%	0.19%	0.03%
PCAR	D	0.08%	0.21%	0.08%
PFE	C	0.53%	0.59%	0.53%
PG	C	0.88%	1.51%	0.88%
PGR	B	0.5%	0.06%	0.06%
PHM	B	0.17%	0.23%	0.17%
PINC	C	0.02%	0.03%	0.02%
PKG	B	0.05%	0.05%	0.05%
PM	C	0.56%	0.58%	0.56%
POOL	C	0.07%	0.06%	0.06%
PSA	B	0.03%	0.35%	0.03%
PSX	F	0.54%	0.12%	0.12%
PVH	F	0.04%	0.03%	0.03%
PWR	B	0.13%	0.05%	0.05%
QCOM	D	0.62%	0.27%	0.27%
REGN	C	0.45%	0.4%	0.4%
RHI	D	0.02%	0.06%	0.02%
RL	C	0.04%	0.05%	0.04%
RLI	B	0.03%	0.02%	0.02%
ROL	C	0.05%	0.03%	0.03%
ROST	C	0.07%	0.29%	0.07%
RPRX	C	0.03%	0.03%	0.03%
RS	D	0.08%	0.15%	0.08%
SAIA	D	0.04%	0.04%	0.04%
SBUX	C	0.06%	0.51%	0.06%
SEIC	C	0.07%	0.06%	0.06%
SJM	C	0.03%	0.03%	0.03%
SKX	D	0.02%	0.07%	0.02%
SLB	F	0.09%	0.14%	0.09%
SPG	B	0.15%	0.2%	0.15%
SPGI	B	0.06%	0.08%	0.06%
SSD	D	0.03%	0.03%	0.03%
STLD	F	0.04%	0.2%	0.04%
SYF	C	0.29%	0.1%	0.1%
SYY	D	0.07%	0.37%	0.07%
T	C	1.23%	0.72%	0.72%
TAP	D	0.08%	0.03%	0.03%
TER	D	0.03%	0.04%	0.03%
TGT	C	0.68%	0.41%	0.41%
THO	D	0.06%	0.03%	0.03%
TJX	B	0.34%	0.85%	0.34%
TOL	B	0.1%	0.07%	0.07%
TPR	C	0.01%	0.09%	0.01%
TROW	D	0.08%	0.23%	0.08%
TSCO	C	0.07%	0.16%	0.07%
TSN	C	0.22%	0.04%	0.04%
TTEK	C	0.02%	0.03%	0.02%
TXN	C	0.21%	0.38%	0.21%
TXRH	C	0.05%	0.05%	0.05%
TXT	D	0.03%	0.06%	0.03%
UAL	C	0.01%	0.06%	0.01%
UHS	B	0.09%	0.06%	0.06%
ULTA	D	0.04%	0.16%	0.04%
UNP	C	0.48%	0.14%	0.14%
UPS	D	0.19%	0.42%	0.19%
URI	B	0.09%	0.2%	0.09%
USFD	B	0.09%	0.03%	0.03%
UTHR	C	0.16%	0.1%	0.1%
V	C	0.86%	1.81%	0.86%
VLO	F	0.54%	0.18%	0.18%
VRSN	D	0.04%	0.06%	0.04%
VRTX	D	0.21%	0.22%	0.21%
VST	C	0.26%	0.12%	0.12%
VVV	D	0.03%	0.03%	0.03%
VZ	B	1.01%	0.74%	0.74%
WAT	C	0.05%	0.03%	0.03%
WMT	C	1.87%	2.86%	1.87%
WSM	D	0.21%	0.16%	0.16%
WSO	C	0.2%	0.07%	0.07%
WST	D	0.04%	0.08%	0.04%
WTW	C	0.05%	0.03%	0.03%
X	F	0.06%	0.03%	0.03%
XOM	C	0.99%	3.11%	0.99%
YUM	D	0.1%	0.06%	0.06%

MFUS Overweight 511 Positions Relative to QARP

Symbol	Grade	Weight
WFC	D	1.4%
AVGO	C	1.34%
IBM	B	1.32%
C	C	1.22%
GE	B	1.09%
JPM	D	0.9%
PEP	C	0.62%
KO	C	0.6%
GS	C	0.45%
NFLX	B	0.44%
AIG	D	0.42%
BAC	D	0.39%
NOW	B	0.37%
ALL	B	0.36%
MET	B	0.36%
CRM	D	0.35%
F	F	0.33%
TRV	C	0.32%
TMUS	C	0.31%
ICE	C	0.29%
BK	B	0.27%
DHR	B	0.27%
THC	A	0.27%
INTU	C	0.26%
ANF	D	0.26%
PRU	C	0.25%
PANW	D	0.25%
LII	B	0.23%
NOC	B	0.23%
WM	D	0.23%
MDLZ	B	0.22%
SHW	B	0.21%
UBER	C	0.21%
GLW	C	0.2%
HPE	D	0.2%
CME	C	0.2%
VRSK	D	0.2%
BSX	B	0.19%
AXP	B	0.19%
LHX	C	0.19%
SFM	B	0.19%
AFL	C	0.19%
DVA	B	0.18%
ETN	C	0.18%
GD	B	0.17%
IT	B	0.16%
BR	D	0.16%
CB	B	0.16%
KHC	C	0.16%
SCHW	D	0.16%
EMR	D	0.15%
MSI	B	0.15%
WDC	D	0.15%
TDG	B	0.15%
BAH	C	0.14%
WBA	F	0.14%
SMCI	F	0.14%
KKR	B	0.13%
RSG	D	0.13%
RMD	C	0.13%
BRO	C	0.13%
TRGP	B	0.13%
PH	B	0.13%
DUK	C	0.13%
VTRS	D	0.13%
EXC	C	0.12%
WELL	C	0.12%
CARR	B	0.12%
HWM	B	0.12%
STE	C	0.12%
XYL	C	0.11%
USB	B	0.11%
RPM	B	0.11%
IRM	C	0.11%
GPK	B	0.1%
PNC	B	0.1%
AVY	C	0.1%
APH	D	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%
AEO	F	0.09%
JXN	A	0.09%
IR	C	0.09%
BDX	D	0.09%
TFC	C	0.09%
DASH	C	0.09%
CEG	C	0.09%
ARES	B	0.09%
AJG	D	0.09%
EFX	B	0.09%
GDDY	C	0.09%
CACI	B	0.09%
NEM	B	0.09%
WCC	D	0.08%
DFS	B	0.08%
OGN	D	0.08%
WU	F	0.08%
MKC	C	0.08%
TYL	C	0.08%
FIS	B	0.08%
MTH	A	0.08%
WMB	B	0.08%
AMP	A	0.08%
OKE	B	0.08%
ECL	B	0.08%
HLT	B	0.08%
RCL	B	0.08%
EHC	C	0.08%
LUMN	C	0.08%
BWXT	D	0.08%
TMHC	A	0.08%
LDOS	B	0.08%
KMI	B	0.08%
IEX	D	0.08%
AN	D	0.08%
L	C	0.08%
MPWR	C	0.08%
DLR	B	0.08%
CW	B	0.08%
HUBB	B	0.08%
PNR	B	0.08%
CHD	D	0.07%
ABG	D	0.07%
ARW	C	0.07%
CMC	D	0.07%
CALM	A	0.07%
SLG	B	0.07%
CCK	A	0.07%
EQH	C	0.07%
NRG	C	0.07%
ATR	B	0.07%
IPG	C	0.07%
TTC	D	0.07%
TTWO	C	0.07%
EXR	B	0.07%
AIZ	B	0.07%
BALL	C	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%
HIG	B	0.06%
HCC	F	0.06%
EMN	B	0.06%
KSS	F	0.06%
IDXX	C	0.06%
CPT	B	0.06%
BCC	B	0.06%
BC	C	0.06%
MLM	D	0.06%
OMC	B	0.06%
TEX	F	0.06%
NSIT	D	0.06%
SLM	D	0.06%
INVH	C	0.06%
SCI	B	0.06%
ROP	C	0.06%
SEE	D	0.06%
VMC	D	0.06%
CFG	C	0.06%
PBF	F	0.06%
CRI	D	0.06%
MLI	A	0.06%
CNX	B	0.06%
NWSA	D	0.06%
KDP	B	0.06%
UFPI	C	0.06%
ATGE	C	0.05%
CAG	C	0.05%
CBT	B	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%
MTN	D	0.05%
VIRT	C	0.05%
TW	B	0.05%
PTC	D	0.05%
NXST	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%
CPAY	B	0.05%
URBN	F	0.05%
SUI	B	0.05%
DG	F	0.05%
FITB	B	0.05%
FLEX	C	0.05%
JLL	B	0.05%
PEG	B	0.05%
MHO	B	0.05%
KTB	B	0.05%
ANSS	D	0.05%
IVZ	B	0.05%
TPH	C	0.05%
CMA	B	0.04%
APLE	D	0.04%
GEO	F	0.04%
LW	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%
BAX	C	0.04%
CNO	B	0.04%
SON	C	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%
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%
BTU	D	0.04%
HXL	F	0.04%
THG	B	0.04%
ZTS	C	0.04%
SRCL	A	0.04%
KBH	A	0.04%
WHR	D	0.04%
BDC	B	0.04%
NDSN	C	0.04%
LANC	D	0.04%
STZ	D	0.04%
GNRC	D	0.04%
SIG	C	0.04%
WAB	B	0.04%
SMG	C	0.04%
NOV	F	0.04%
PPG	D	0.04%
AVT	C	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%
BEN	F	0.04%
MAC	B	0.04%
AKAM	D	0.03%
OKTA	F	0.03%
ZION	D	0.03%
FNF	B	0.03%
HOOD	C	0.03%
HBAN	B	0.03%
FR	B	0.03%
PRG	B	0.03%
NAVI	C	0.03%
MC	B	0.03%
DK	F	0.03%
BKU	C	0.03%
SBAC	C	0.03%
BRKR	D	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%
UDR	C	0.03%
MTB	B	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%
EQIX	C	0.03%
WTS	C	0.03%
SBH	B	0.03%
DLB	D	0.03%
TFX	C	0.03%
HBI	B	0.03%
HSIC	C	0.03%
TRN	D	0.03%
AVA	C	0.03%
PDCO	F	0.03%
GT	F	0.03%
MKL	C	0.03%
MANH	B	0.03%
SEM	D	0.03%
SLVM	B	0.03%
TDS	C	0.03%
ACA	B	0.03%
JEF	B	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%
ASO	C	0.03%
OMF	D	0.03%
AES	C	0.03%
APG	D	0.03%
UHAL	A	0.03%
IFF	B	0.03%
PSTG	F	0.03%
GMS	D	0.03%
AROC	D	0.03%
DDS	F	0.03%
JWN	C	0.03%
OI	D	0.03%
AVTR	B	0.03%
LEG	D	0.02%
VFC	C	0.02%
PARA	F	0.02%
APOG	B	0.02%
NWL	C	0.02%
BXP	B	0.02%
HNI	C	0.02%
LXP	B	0.02%
SNDR	B	0.02%
ODP	F	0.02%
ANDE	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%
DOV	B	0.02%
XHR	B	0.02%
AIT	A	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%
KEY	B	0.02%
AIR	C	0.02%
KMPR	D	0.02%
CTLT	B	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%
AXTA	B	0.02%
TDC	F	0.02%
PNM	B	0.02%
FAF	B	0.02%
WERN	D	0.02%
DRH	C	0.02%
LZB	C	0.02%
WRB	C	0.02%
NTRS	A	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%
NDAQ	A	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%
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%
SWN	D	0.01%
ECPG	D	0.01%
MKSI	F	0.01%
WGO	D	0.01%
UVV	D	0.01%
ESI	D	0.01%
QRVO	F	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%
SYNA	F	0.01%
ESAB	C	0.01%
HRL	C	0.01%
SIGI	D	0.01%
PFG	B	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%
RJF	C	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%
SATS	C	0.01%
EVRG	B	0.01%
NOMD	B	0.0%
WOLF	F	0.0%

MFUS Underweight 75 Positions Relative to QARP

Symbol	Grade	Weight
UNH	C	-2.48%
MSFT	C	-2.12%
GOOG	D	-1.92%
TSLA	C	-0.58%
HUM	F	-0.4%
DHI	B	-0.37%
FDX	C	-0.34%
CTSH	C	-0.3%
CNC	D	-0.3%
PYPL	B	-0.28%
ACGL	C	-0.28%
DE	B	-0.25%
ABT	C	-0.23%
ABNB	D	-0.21%
KVUE	C	-0.21%
DVN	F	-0.18%
ISRG	B	-0.17%
DAL	C	-0.16%
GRMN	D	-0.14%
LULU	D	-0.14%
GEV	B	-0.13%
EXPE	C	-0.13%
KEYS	C	-0.12%
CF	C	-0.12%
SOLV	C	-0.11%
SWKS	D	-0.1%
LUV	C	-0.1%
SNA	C	-0.1%
MRNA	F	-0.1%
CBRE	A	-0.09%
ROK	D	-0.09%
ADI	C	-0.09%
AMD	D	-0.08%
CBOE	C	-0.08%
WY	C	-0.08%
VICI	C	-0.08%
LYV	B	-0.07%
TT	B	-0.07%
PFGC	B	-0.07%
ATO	B	-0.07%
RNR	C	-0.06%
EW	F	-0.06%
EG	C	-0.06%
APTV	D	-0.06%
OXY	F	-0.06%
LNG	C	-0.06%
ON	D	-0.05%
CLF	F	-0.05%
MGM	F	-0.05%
CHK	D	-0.05%
ALK	C	-0.04%
CNP	C	-0.04%
EPAM	F	-0.04%
J	C	-0.04%
KNSL	C	-0.04%
AMCR	B	-0.04%
ARMK	B	-0.04%
DBX	D	-0.04%
MCHP	F	-0.04%
LKQ	F	-0.03%
OVV	F	-0.03%
AAL	D	-0.03%
PII	D	-0.03%
CROX	D	-0.03%
MEDP	F	-0.03%
WBD	D	-0.03%
PAYC	D	-0.03%
EL	F	-0.03%
WYNN	D	-0.03%
CDNS	D	-0.02%
ALB	D	-0.02%
MTZ	B	-0.02%
FIVE	D	-0.02%
APA	F	-0.02%
IWB	B	-0.0%