MFUS vs. SPXE ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to ProShares S&P 500 Ex-Energy ETF (SPXE)

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

SPXE

ProShares S&P 500 Ex-Energy ETF

SPXE Description

The investment seeks investment results, before fees and expenses that track the performance of the S&P 500® Ex-Energy Index (the "index"). Under normal circumstances, the fund will invest at least 80% of its total assets in component securities. The index seeks to provide exposure to the companies of the S&P 500® Index (the "S&P 500®") with the exception of those companies included in the Energy Sector.

Grade (RS Rating)

Last Trade

$64.09

Average Daily Volume

1,356

Number of Holdings ^*

477

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	SPXE
30 Days	2.73%	2.38%
60 Days	3.41%	4.47%
90 Days	5.38%	6.26%
12 Months	32.49%	33.31%

363 Overlapping Holdings

	Symbol	Grade	Weight in MFUS	Weight in SPXE	Overlap
	A	D	0.05%	0.08%	0.05%
	AAPL	C	0.96%	7.2%	0.96%
	ABBV	D	1.36%	0.61%	0.61%
	ACN	C	0.25%	0.46%	0.25%
	ADBE	C	0.04%	0.46%	0.04%
	ADM	D	0.22%	0.05%	0.05%
	ADP	B	0.11%	0.25%	0.11%
	ADSK	A	0.09%	0.13%	0.09%
	AEP	D	0.08%	0.11%	0.08%
	AES	F	0.01%	0.02%	0.01%
	AFL	B	0.21%	0.12%	0.12%
	AIG	B	0.34%	0.1%	0.1%
	AIZ	A	0.09%	0.02%	0.02%
	AJG	B	0.16%	0.13%	0.13%
	AKAM	D	0.02%	0.03%	0.02%
	ALGN	D	0.01%	0.03%	0.01%
	ALL	A	0.26%	0.11%	0.11%
	AMAT	F	0.55%	0.29%	0.29%
	AMGN	D	0.94%	0.31%	0.31%
	AMP	A	0.18%	0.11%	0.11%
	AMT	D	0.13%	0.19%	0.13%
	AMZN	C	1.71%	3.91%	1.71%
	ANET	C	0.14%	0.2%	0.14%
	ANSS	B	0.05%	0.06%	0.05%
	AON	A	0.24%	0.17%	0.17%
	AOS	F	0.08%	0.02%	0.02%
	APH	A	0.12%	0.17%	0.12%
	ATO	A	0.02%	0.05%	0.02%
	AVB	B	0.03%	0.07%	0.03%
	AVGO	D	1.59%	1.6%	1.59%
	AVY	D	0.09%	0.03%	0.03%
	AXP	A	0.23%	0.33%	0.23%
	AZO	C	0.28%	0.11%	0.11%
	BAC	A	0.45%	0.66%	0.45%
	BALL	D	0.07%	0.04%	0.04%
	BAX	D	0.04%	0.04%	0.04%
	BBY	D	0.21%	0.04%	0.04%
	BDX	F	0.11%	0.13%	0.11%
	BEN	C	0.02%	0.01%	0.01%
	BIIB	F	0.07%	0.05%	0.05%
	BK	A	0.18%	0.12%	0.12%
	BKNG	A	0.42%	0.35%	0.35%
	BLDR	D	0.04%	0.04%	0.04%
	BLK	C	0.19%	0.3%	0.19%
	BMY	B	0.41%	0.24%	0.24%
	BR	A	0.17%	0.05%	0.05%
	BRK.A	B	2.42%	1.8%	1.8%
	BRO	B	0.12%	0.05%	0.05%
	BSX	B	0.2%	0.28%	0.2%
	BWA	D	0.01%	0.02%	0.01%
	BX	A	0.13%	0.27%	0.13%
	BXP	D	0.02%	0.02%	0.02%
	C	A	0.69%	0.27%	0.27%
	CAG	D	0.04%	0.03%	0.03%
	CAH	B	0.27%	0.06%	0.06%
	CARR	D	0.05%	0.13%	0.05%
	CAT	B	0.2%	0.39%	0.2%
	CB	C	0.16%	0.22%	0.16%
	CBRE	B	0.05%	0.08%	0.05%
	CCI	D	0.07%	0.09%	0.07%
	CCL	B	0.02%	0.05%	0.02%
	CDW	F	0.03%	0.05%	0.03%
	CE	F	0.02%	0.02%	0.02%
	CEG	D	0.11%	0.15%	0.11%
	CFG	B	0.04%	0.04%	0.04%
	CHD	B	0.07%	0.06%	0.06%
	CHRW	C	0.14%	0.03%	0.03%
	CHTR	C	0.3%	0.08%	0.08%
	CI	F	0.13%	0.19%	0.13%
	CINF	A	0.02%	0.05%	0.02%
	CL	D	0.35%	0.16%	0.16%
	CLX	B	0.12%	0.04%	0.04%
	CMCSA	B	0.16%	0.35%	0.16%
	CME	A	0.14%	0.17%	0.14%
	CMG	B	0.2%	0.17%	0.17%
	CMI	A	0.14%	0.1%	0.1%
	CMS	C	0.03%	0.04%	0.03%
	CNC	D	0.04%	0.06%	0.04%
	COF	B	0.29%	0.14%	0.14%
	COR	B	0.17%	0.09%	0.09%
	COST	B	1.35%	0.85%	0.85%
	CPAY	A	0.03%	0.05%	0.03%
	CPB	D	0.04%	0.02%	0.02%
	CPRT	A	0.09%	0.1%	0.09%
	CPT	B	0.06%	0.03%	0.03%
	CSCO	B	0.68%	0.48%	0.48%
	CSX	B	0.11%	0.14%	0.11%
	CTAS	B	0.19%	0.15%	0.15%
	CTLT	B	0.02%	0.02%	0.02%
	CTVA	C	0.04%	0.08%	0.04%
	CVS	D	0.65%	0.15%	0.15%
	D	C	0.07%	0.1%	0.07%
	DD	D	0.1%	0.07%	0.07%
	DECK	A	0.17%	0.06%	0.06%
	DELL	C	0.03%	0.08%	0.03%
	DFS	B	0.1%	0.09%	0.09%
	DG	F	0.09%	0.04%	0.04%
	DGX	A	0.09%	0.04%	0.04%
	DHI	D	0.06%	0.1%	0.06%
	DHR	F	0.24%	0.31%	0.24%
	DLR	B	0.09%	0.12%	0.09%
	DLTR	F	0.03%	0.03%	0.03%
	DOV	A	0.04%	0.06%	0.04%
	DOW	F	0.02%	0.06%	0.02%
	DPZ	C	0.13%	0.03%	0.03%
	DRI	B	0.03%	0.04%	0.03%
	DTE	C	0.02%	0.05%	0.02%
	DUK	C	0.13%	0.18%	0.13%
	DVA	B	0.16%	0.02%	0.02%
	EA	A	0.18%	0.08%	0.08%
	EBAY	D	0.36%	0.06%	0.06%
	ECL	D	0.08%	0.13%	0.08%
	ED	D	0.05%	0.07%	0.05%
	EFX	F	0.11%	0.06%	0.06%
	EIX	B	0.05%	0.07%	0.05%
	ELV	F	0.16%	0.19%	0.16%
	EMN	D	0.04%	0.02%	0.02%
	EMR	A	0.09%	0.15%	0.09%
	EQR	B	0.04%	0.05%	0.04%
	ERIE	D	0.04%	0.02%	0.02%
	ES	D	0.03%	0.05%	0.03%
	ESS	B	0.04%	0.04%	0.04%
	ETR	B	0.05%	0.07%	0.05%
	EVRG	A	0.02%	0.03%	0.02%
	EXC	C	0.07%	0.08%	0.07%
	EXPD	D	0.11%	0.03%	0.03%
	EXR	D	0.11%	0.07%	0.07%
	F	C	0.16%	0.09%	0.09%
	FAST	B	0.13%	0.1%	0.1%
	FDS	B	0.04%	0.04%	0.04%
	FE	C	0.03%	0.04%	0.03%
	FFIV	B	0.06%	0.03%	0.03%
	FI	A	0.19%	0.25%	0.19%
	FICO	B	0.25%	0.11%	0.11%
	FIS	C	0.07%	0.1%	0.07%
	FITB	A	0.04%	0.07%	0.04%
	FOXA	B	0.11%	0.02%	0.02%
	FTNT	C	0.07%	0.12%	0.07%
	GD	F	0.24%	0.15%	0.15%
	GDDY	A	0.12%	0.05%	0.05%
	GE	D	0.56%	0.4%	0.4%
	GEHC	F	0.07%	0.08%	0.07%
	GEN	B	0.11%	0.03%	0.03%
	GILD	C	0.87%	0.23%	0.23%
	GIS	D	0.17%	0.07%	0.07%
	GLW	B	0.2%	0.07%	0.07%
	GM	B	0.4%	0.13%	0.13%
	GNRC	B	0.06%	0.02%	0.02%
	GS	A	0.41%	0.39%	0.39%
	GWW	B	0.21%	0.11%	0.11%
	HBAN	A	0.03%	0.05%	0.03%
	HCA	F	0.25%	0.13%	0.13%
	HD	A	0.62%	0.84%	0.62%
	HIG	B	0.06%	0.07%	0.06%
	HII	D	0.02%	0.02%	0.02%
	HLT	A	0.1%	0.13%	0.1%
	HOLX	D	0.03%	0.04%	0.03%
	HPE	B	0.11%	0.06%	0.06%
	HPQ	B	0.28%	0.08%	0.08%
	HRL	D	0.02%	0.02%	0.02%
	HSIC	B	0.03%	0.02%	0.02%
	HST	C	0.02%	0.03%	0.02%
	HSY	F	0.05%	0.05%	0.05%
	HUBB	B	0.03%	0.05%	0.03%
	HWM	A	0.17%	0.1%	0.1%
	IBM	C	1.05%	0.4%	0.4%
	ICE	C	0.29%	0.19%	0.19%
	IDXX	F	0.05%	0.07%	0.05%
	IEX	B	0.09%	0.03%	0.03%
	IFF	D	0.03%	0.05%	0.03%
	INCY	C	0.01%	0.03%	0.01%
	INTC	D	0.2%	0.22%	0.2%
	INVH	D	0.04%	0.04%	0.04%
	IP	B	0.09%	0.04%	0.04%
	IPG	D	0.04%	0.02%	0.02%
	IR	B	0.09%	0.09%	0.09%
	IRM	D	0.12%	0.07%	0.07%
	ISRG	A	0.29%	0.39%	0.29%
	IT	C	0.15%	0.08%	0.08%
	ITW	B	0.1%	0.15%	0.1%
	IVZ	B	0.03%	0.02%	0.02%
	JBHT	C	0.02%	0.03%	0.02%
	JBL	B	0.03%	0.03%	0.03%
	JCI	C	0.07%	0.12%	0.07%
	JKHY	D	0.1%	0.03%	0.03%
	JNJ	D	1.18%	0.77%	0.77%
	JNPR	F	0.13%	0.02%	0.02%
	JPM	A	0.99%	1.45%	0.99%
	K	A	0.15%	0.05%	0.05%
	KDP	D	0.07%	0.07%	0.07%
	KEY	B	0.03%	0.04%	0.03%
	KHC	F	0.15%	0.06%	0.06%
	KIM	A	0.02%	0.04%	0.02%
	KKR	A	0.15%	0.21%	0.15%
	KLAC	D	0.23%	0.17%	0.17%
	KMB	D	0.16%	0.1%	0.1%
	KO	D	1.0%	0.5%	0.5%
	KR	B	0.38%	0.08%	0.08%
	L	A	0.06%	0.03%	0.03%
	LDOS	C	0.11%	0.04%	0.04%
	LEN	D	0.06%	0.08%	0.06%
	LHX	C	0.26%	0.1%	0.1%
	LLY	F	2.39%	1.19%	1.19%
	LMT	D	0.75%	0.23%	0.23%
	LNT	A	0.02%	0.03%	0.02%
	LOW	D	0.35%	0.32%	0.32%
	LRCX	F	0.17%	0.19%	0.17%
	LW	C	0.03%	0.02%	0.02%
	LYB	F	0.15%	0.04%	0.04%
	MA	C	0.28%	0.89%	0.28%
	MAA	B	0.02%	0.04%	0.02%
	MAR	B	0.04%	0.14%	0.04%
	MAS	D	0.06%	0.03%	0.03%
	MCD	D	0.53%	0.43%	0.43%
	MCK	B	0.63%	0.16%	0.16%
	MCO	B	0.15%	0.15%	0.15%
	MDLZ	F	0.23%	0.18%	0.18%
	MET	A	0.32%	0.1%	0.1%
	META	D	2.35%	2.52%	2.35%
	MHK	D	0.01%	0.01%	0.01%
	MKC	D	0.05%	0.04%	0.04%
	MKTX	D	0.02%	0.02%	0.02%
	MLM	B	0.07%	0.07%	0.07%
	MMC	B	0.2%	0.23%	0.2%
	MMM	D	0.6%	0.15%	0.15%
	MNST	C	0.07%	0.08%	0.07%
	MO	A	0.73%	0.2%	0.2%
	MOS	F	0.01%	0.02%	0.01%
	MPWR	F	0.06%	0.06%	0.06%
	MRK	F	0.84%	0.51%	0.51%
	MS	A	0.22%	0.35%	0.22%
	MSCI	C	0.07%	0.1%	0.07%
	MSI	B	0.2%	0.17%	0.17%
	MTB	A	0.04%	0.07%	0.04%
	MTD	D	0.08%	0.05%	0.05%
	MU	D	0.16%	0.22%	0.16%
	NDAQ	A	0.05%	0.07%	0.05%
	NDSN	B	0.04%	0.03%	0.03%
	NEE	D	0.22%	0.33%	0.22%
	NEM	D	0.16%	0.1%	0.1%
	NFLX	A	0.52%	0.75%	0.52%
	NI	A	0.02%	0.03%	0.02%
	NKE	D	0.06%	0.19%	0.06%
	NOC	D	0.35%	0.14%	0.14%
	NOW	A	0.36%	0.43%	0.36%
	NRG	B	0.07%	0.04%	0.04%
	NSC	B	0.07%	0.12%	0.07%
	NTAP	C	0.1%	0.05%	0.05%
	NTRS	A	0.03%	0.05%	0.03%
	NUE	C	0.08%	0.07%	0.07%
	NVDA	C	1.9%	7.16%	1.9%
	NVR	D	0.09%	0.06%	0.06%
	NWSA	B	0.04%	0.02%	0.02%
	O	D	0.05%	0.1%	0.05%
	ODFL	B	0.02%	0.08%	0.02%
	OMC	C	0.06%	0.04%	0.04%
	ORCL	B	1.52%	0.62%	0.62%
	ORLY	B	0.2%	0.15%	0.15%
	OTIS	C	0.07%	0.08%	0.07%
	PANW	C	0.25%	0.26%	0.25%
	PARA	C	0.01%	0.01%	0.01%
	PAYX	C	0.04%	0.09%	0.04%
	PEG	A	0.06%	0.09%	0.06%
	PEP	F	0.74%	0.45%	0.45%
	PFE	D	0.57%	0.29%	0.29%
	PFG	D	0.01%	0.04%	0.01%
	PG	A	1.01%	0.83%	0.83%
	PGR	A	0.59%	0.31%	0.31%
	PH	A	0.14%	0.18%	0.14%
	PHM	D	0.1%	0.06%	0.06%
	PKG	A	0.1%	0.04%	0.04%
	PLTR	B	0.23%	0.26%	0.23%
	PM	B	0.87%	0.43%	0.43%
	PNC	B	0.12%	0.17%	0.12%
	PNR	A	0.02%	0.04%	0.02%
	PNW	B	0.01%	0.02%	0.01%
	POOL	C	0.07%	0.03%	0.03%
	PPG	F	0.04%	0.06%	0.04%
	PPL	B	0.04%	0.05%	0.04%
	PRU	A	0.23%	0.1%	0.1%
	PSA	D	0.09%	0.11%	0.09%
	PTC	A	0.04%	0.05%	0.04%
	PWR	A	0.12%	0.1%	0.1%
	PYPL	B	0.12%	0.18%	0.12%
	QCOM	F	0.77%	0.38%	0.38%
	QRVO	F	0.01%	0.01%	0.01%
	RCL	A	0.1%	0.11%	0.1%
	REGN	F	0.36%	0.17%	0.17%
	RF	A	0.02%	0.05%	0.02%
	RL	B	0.03%	0.02%	0.02%
	RMD	C	0.16%	0.07%	0.07%
	ROL	B	0.07%	0.03%	0.03%
	ROP	B	0.06%	0.12%	0.06%
	RSG	A	0.13%	0.09%	0.09%
	RTX	C	0.22%	0.33%	0.22%
	RVTY	F	0.01%	0.03%	0.01%
	SBAC	D	0.03%	0.05%	0.03%
	SBUX	A	0.09%	0.24%	0.09%
	SCHW	B	0.05%	0.25%	0.05%
	SHW	A	0.22%	0.18%	0.18%
	SJM	D	0.04%	0.02%	0.02%
	SMCI	F	0.05%	0.02%	0.02%
	SO	D	0.13%	0.2%	0.13%
	SPG	B	0.16%	0.12%	0.12%
	SPGI	C	0.29%	0.33%	0.29%
	SRE	A	0.08%	0.12%	0.08%
	STE	F	0.07%	0.04%	0.04%
	STLD	B	0.04%	0.04%	0.04%
	STZ	D	0.06%	0.08%	0.06%
	SYF	B	0.31%	0.05%	0.05%
	SYY	B	0.12%	0.08%	0.08%
	T	A	0.73%	0.34%	0.34%
	TAP	C	0.09%	0.02%	0.02%
	TDG	D	0.15%	0.14%	0.14%
	TER	D	0.03%	0.04%	0.03%
	TFC	A	0.09%	0.13%	0.09%
	TFX	F	0.02%	0.02%	0.02%
	TGT	F	0.74%	0.15%	0.15%
	TJX	A	0.37%	0.28%	0.28%
	TMO	F	0.28%	0.4%	0.28%
	TMUS	B	0.43%	0.24%	0.24%
	TPR	B	0.01%	0.03%	0.01%
	TROW	B	0.09%	0.05%	0.05%
	TRV	B	0.2%	0.12%	0.12%
	TSCO	D	0.11%	0.06%	0.06%
	TSN	B	0.18%	0.04%	0.04%
	TTWO	A	0.07%	0.06%	0.06%
	TXN	C	0.29%	0.39%	0.29%
	TYL	B	0.08%	0.05%	0.05%
	UAL	A	0.02%	0.06%	0.02%
	UBER	D	0.21%	0.3%	0.21%
	UDR	B	0.03%	0.03%	0.03%
	UHS	D	0.06%	0.02%	0.02%
	ULTA	F	0.04%	0.03%	0.03%
	UNH	C	0.79%	1.13%	0.79%
	UNP	C	0.51%	0.3%	0.3%
	UPS	C	0.24%	0.21%	0.21%
	URI	B	0.09%	0.11%	0.09%
	USB	A	0.11%	0.16%	0.11%
	V	A	0.31%	1.08%	0.31%
	VLTO	D	0.04%	0.05%	0.04%
	VRSK	A	0.16%	0.08%	0.08%
	VRSN	F	0.04%	0.03%	0.03%
	VRTX	F	0.22%	0.25%	0.22%
	VST	B	0.23%	0.1%	0.1%
	VTR	C	0.04%	0.05%	0.04%
	VTRS	A	0.14%	0.03%	0.03%
	VZ	C	1.0%	0.37%	0.37%
	WAB	B	0.05%	0.07%	0.05%
	WAT	B	0.05%	0.04%	0.04%
	WBA	F	0.12%	0.01%	0.01%
	WDC	D	0.08%	0.04%	0.04%
	WELL	A	0.12%	0.16%	0.12%
	WFC	A	0.97%	0.52%	0.52%
	WM	A	0.28%	0.17%	0.17%
	WMT	A	1.71%	0.76%	0.76%
	WRB	A	0.02%	0.04%	0.02%
	WST	C	0.05%	0.05%	0.05%
	WTW	B	0.11%	0.07%	0.07%
	XYL	D	0.1%	0.06%	0.06%
	YUM	B	0.13%	0.08%	0.08%
	ZBRA	B	0.04%	0.04%	0.04%
	ZTS	D	0.05%	0.17%	0.05%

MFUS Overweight 452 Positions Relative to SPXE

	Symbol	Grade	Weight
	XOM	B	0.43%
	CVX	A	0.39%
	MPC	D	0.34%
	THC	D	0.28%
	SFM	A	0.25%
	ANF	C	0.25%
	PSX	C	0.23%
	LII	A	0.21%
	UTHR	C	0.19%
	WSM	B	0.18%
	WSO	A	0.17%
	MUSA	A	0.16%
	VLO	C	0.16%
	CASY	A	0.16%
	BAH	F	0.15%
	EVR	B	0.13%
	RPM	A	0.13%
	CW	B	0.11%
	KMI	A	0.11%
	TRGP	B	0.11%
	CRS	A	0.11%
	DASH	A	0.11%
	ALSN	B	0.11%
	BWXT	B	0.11%
	APP	B	0.11%
	OKE	A	0.1%
	COIN	C	0.1%
	AYI	B	0.1%
	JXN	C	0.1%
	WMB	A	0.1%
	SEIC	B	0.09%
	MLI	C	0.09%
	ARES	A	0.09%
	WCC	B	0.09%
	CALM	A	0.09%
	LSTR	D	0.09%
	EHC	B	0.09%
	CACI	D	0.09%
	TMHC	B	0.09%
	GPI	A	0.09%
	HRB	D	0.08%
	BKR	B	0.08%
	LPX	B	0.08%
	DKS	C	0.08%
	SLG	B	0.08%
	GPK	C	0.08%
	ABG	B	0.08%
	ATR	B	0.08%
	HLI	B	0.08%
	ITT	A	0.08%
	EQH	B	0.08%
	GLPI	C	0.07%
	SCI	B	0.07%
	LPLA	A	0.07%
	UFPI	B	0.07%
	EXP	A	0.07%
	COP	C	0.07%
	BCC	B	0.07%
	INGR	B	0.07%
	SKYW	B	0.07%
	GEO	B	0.07%
	CNX	A	0.07%
	VNO	B	0.07%
	THO	B	0.07%
	R	B	0.07%
	AEO	F	0.07%
	HCC	B	0.07%
	G	B	0.06%
	VIRT	B	0.06%
	BC	C	0.06%
	TW	A	0.06%
	GAP	C	0.06%
	SEE	C	0.06%
	ATGE	B	0.06%
	TPH	D	0.06%
	BFH	B	0.06%
	LECO	B	0.06%
	JLL	D	0.06%
	BERY	B	0.06%
	KTB	B	0.06%
	CHE	D	0.06%
	CCK	C	0.06%
	SLM	A	0.06%
	CMC	B	0.06%
	FCNCA	A	0.06%
	MTH	D	0.06%
	FIX	A	0.06%
	IBKR	A	0.06%
	LUMN	C	0.06%
	WU	D	0.06%
	SQ	B	0.06%
	PK	B	0.06%
	TXRH	C	0.06%
	TTC	D	0.06%
	AMG	B	0.06%
	AN	C	0.06%
	RGA	A	0.06%
	MSM	C	0.06%
	TOL	B	0.06%
	ALNY	D	0.06%
	TDS	B	0.05%
	NFG	A	0.05%
	CNO	A	0.05%
	PRIM	A	0.05%
	FANG	D	0.05%
	FLEX	A	0.05%
	THG	A	0.05%
	AR	B	0.05%
	NSIT	F	0.05%
	LOPE	B	0.05%
	URBN	C	0.05%
	MOG.A	B	0.05%
	SUI	D	0.05%
	TGNA	B	0.05%
	GNTX	C	0.05%
	MTN	C	0.05%
	EXEL	B	0.05%
	CRI	D	0.05%
	USFD	A	0.05%
	SLGN	A	0.05%
	POST	C	0.05%
	COOP	B	0.05%
	TEX	D	0.05%
	LAMR	D	0.05%
	KD	B	0.05%
	CBT	C	0.05%
	GVA	A	0.05%
	NXST	C	0.05%
	HBI	B	0.05%
	ALLY	C	0.05%
	WEN	D	0.05%
	FCN	D	0.05%
	MMS	F	0.05%
	BTU	B	0.05%
	SON	D	0.04%
	AVT	C	0.04%
	OSK	B	0.04%
	XPO	B	0.04%
	LANC	C	0.04%
	TKR	D	0.04%
	AWI	A	0.04%
	SEM	B	0.04%
	AMH	D	0.04%
	CRUS	D	0.04%
	CXW	B	0.04%
	SMG	D	0.04%
	JWN	C	0.04%
	PSTG	D	0.04%
	AGNC	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%
	OLN	D	0.04%
	ARW	D	0.04%
	CPNG	D	0.04%
	RUSHA	C	0.04%
	TRN	C	0.04%
	SANM	B	0.04%
	RGLD	C	0.04%
	CVLT	B	0.04%
	NBIX	C	0.04%
	CUBE	D	0.04%
	WTM	A	0.04%
	OGN	D	0.04%
	BHF	B	0.04%
	ATI	D	0.04%
	MAC	B	0.04%
	GBX	A	0.04%
	HUBG	A	0.04%
	HEI	B	0.04%
	FTI	A	0.04%
	SIG	B	0.04%
	MHO	D	0.04%
	GATX	A	0.04%
	CRBG	B	0.04%
	EME	C	0.04%
	HOOD	B	0.04%
	JHG	A	0.04%
	CMA	A	0.04%
	UNM	A	0.04%
	RS	B	0.04%
	AROC	B	0.04%
	ABM	B	0.04%
	DCI	B	0.04%
	WERN	C	0.04%
	COKE	C	0.03%
	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%
	WPC	D	0.03%
	HAE	C	0.03%
	UNF	B	0.03%
	PINC	B	0.03%
	APAM	B	0.03%
	FNF	B	0.03%
	VC	D	0.03%
	MAN	D	0.03%
	DK	C	0.03%
	JEF	A	0.03%
	AMKR	D	0.03%
	COLD	D	0.03%
	LBRDK	C	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%
	RPRX	D	0.03%
	BURL	A	0.03%
	X	C	0.03%
	PLXS	B	0.03%
	WHR	B	0.03%
	CG	A	0.03%
	OI	C	0.03%
	PRG	C	0.03%
	APLE	B	0.03%
	ASO	F	0.03%
	SHOO	D	0.03%
	AVA	A	0.03%
	DBRG	F	0.03%
	COHR	B	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%
	DOX	D	0.03%
	SM	B	0.03%
	MC	C	0.03%
	MATX	C	0.03%
	MASI	A	0.03%
	TPX	B	0.03%
	NYT	C	0.03%
	BJ	A	0.03%
	ACM	A	0.03%
	MORN	B	0.03%
	MANH	D	0.03%
	ODP	F	0.02%
	IOSP	B	0.02%
	LXP	D	0.02%
	SAH	A	0.02%
	KEX	C	0.02%
	LEG	F	0.02%
	TTMI	B	0.02%
	VSH	D	0.02%
	SSNC	B	0.02%
	LAUR	A	0.02%
	AA	B	0.02%
	SF	B	0.02%
	BHE	B	0.02%
	BRKR	D	0.02%
	GT	C	0.02%
	GME	C	0.02%
	WBS	A	0.02%
	PHIN	A	0.02%
	WAL	B	0.02%
	CSL	C	0.02%
	AXTA	A	0.02%
	ANDE	D	0.02%
	ZION	B	0.02%
	APG	B	0.02%
	SNV	B	0.02%
	NSP	D	0.02%
	HP	B	0.02%
	VFC	C	0.02%
	DNOW	B	0.02%
	LAD	A	0.02%
	REZI	A	0.02%
	PMT	D	0.02%
	HNI	B	0.02%
	XRAY	F	0.02%
	WKC	D	0.02%
	SNDR	B	0.02%
	OSIS	B	0.02%
	NAVI	C	0.02%
	WMS	D	0.02%
	LNW	D	0.02%
	EPC	D	0.02%
	M	D	0.02%
	AGCO	D	0.02%
	KBR	F	0.02%
	JBLU	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%
	NWL	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%
	DORM	B	0.02%
	APOG	B	0.02%
	GWRE	A	0.02%
	SAM	C	0.02%
	PSN	D	0.02%
	XHR	B	0.02%
	PDCO	D	0.02%
	PBF	D	0.02%
	EWBC	A	0.02%
	NTCT	C	0.02%
	VSCO	B	0.02%
	MCY	A	0.02%
	AIR	B	0.02%
	HOG	D	0.02%
	FAF	A	0.02%
	SBH	C	0.02%
	PAG	B	0.02%
	BFAM	D	0.02%
	VSTO	A	0.02%
	KSS	F	0.02%
	PVH	C	0.02%
	RYN	D	0.02%
	ADNT	F	0.02%
	ORA	B	0.02%
	MTG	C	0.02%
	GEF	A	0.02%
	MSA	D	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%
	MLKN	D	0.01%
	IGT	F	0.01%
	CACC	D	0.01%
	ARI	C	0.01%
	WOR	F	0.01%
	ELAN	D	0.01%
	CNXN	C	0.01%
	SPR	D	0.01%
	CLF	F	0.01%
	ACI	C	0.01%
	GIII	D	0.01%
	UGI	A	0.01%
	ECPG	B	0.01%
	ALEX	C	0.01%
	UVV	B	0.01%
	JBGS	D	0.01%
	HTH	B	0.01%
	SEB	F	0.01%
	MKSI	C	0.01%
	RDN	C	0.01%
	IMKTA	C	0.01%
	XRX	F	0.01%
	SR	A	0.01%
	ARMK	B	0.01%
	OUT	A	0.01%
	SHO	C	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%
	ESI	A	0.01%
	CENTA	C	0.01%
	CVI	F	0.01%
	ARCH	B	0.01%
	PECO	A	0.01%
	PB	A	0.01%
	CNM	D	0.01%
	SAIC	F	0.01%
	OMI	F	0.01%
	FDP	B	0.01%
	SIGI	C	0.01%
	LEA	D	0.01%
	WAFD	B	0.01%
	CROX	D	0.01%
	BRC	D	0.01%
	DY	D	0.01%
	SPB	C	0.01%
	PPC	C	0.01%
	NNN	D	0.01%
	CFR	B	0.01%
	FELE	B	0.01%
	DAN	D	0.01%
	WMK	C	0.01%
	FLR	B	0.01%
	KN	B	0.01%
	STRA	C	0.01%
	BBWI	D	0.01%
	ESNT	D	0.01%
	DXC	B	0.01%
	IDCC	A	0.01%
	LADR	B	0.01%
	NNI	D	0.01%
	GES	F	0.01%
	ESAB	B	0.01%
	CWEN	C	0.01%
	ONB	B	0.01%
	CBSH	A	0.01%
	WWD	B	0.01%
	TTEK	F	0.01%
	MUR	D	0.01%
	CR	A	0.01%
	ICUI	D	0.01%
	CSGS	B	0.01%
	BMRN	D	0.01%
	TNET	D	0.01%
	FYBR	D	0.01%
	HE	C	0.01%
	CADE	B	0.01%
	WTFC	A	0.01%
	FHN	A	0.01%
	PSMT	C	0.01%
	ADC	B	0.01%
	H	B	0.01%
	SATS	D	0.01%
	RBC	A	0.01%
	UHAL	D	0.01%
	SLB	C	0.01%
	GOLF	B	0.01%
	FR	C	0.01%
	DTM	B	0.01%
	DEI	B	0.01%
	AMWD	C	0.01%
	PTEN	C	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 114 Positions Relative to SPXE

	Symbol	Grade	Weight
	MSFT	F	-6.42%
	GOOGL	C	-2.13%
	TSLA	B	-1.95%
	GOOG	C	-1.76%
	CRM	B	-0.65%
	AMD	F	-0.47%
	LIN	D	-0.45%
	DIS	B	-0.43%
	ABT	B	-0.42%
	INTU	C	-0.39%
	HON	B	-0.31%
	ETN	A	-0.29%
	SYK	C	-0.28%
	MDT	D	-0.23%
	DE	A	-0.22%
	ADI	D	-0.22%
	BA	F	-0.22%
	PLD	D	-0.22%
	GEV	B	-0.19%
	TT	A	-0.19%
	EQIX	A	-0.18%
	SNPS	B	-0.17%
	CDNS	B	-0.17%
	CRWD	B	-0.16%
	APD	A	-0.15%
	FDX	B	-0.14%
	FCX	D	-0.13%
	NXPI	D	-0.12%
	ABNB	C	-0.12%
	PCAR	B	-0.12%
	ROST	C	-0.1%
	EW	C	-0.09%
	AXON	A	-0.09%
	AME	A	-0.09%
	PCG	A	-0.09%
	KVUE	A	-0.09%
	ACGL	D	-0.08%
	VMC	B	-0.08%
	CTSH	B	-0.08%
	XEL	A	-0.08%
	DAL	C	-0.08%
	WEC	A	-0.07%
	ROK	B	-0.07%
	GRMN	B	-0.07%
	HUM	C	-0.07%
	IQV	D	-0.07%
	VICI	C	-0.07%
	MCHP	D	-0.07%
	LULU	C	-0.07%
	AWK	D	-0.06%
	ON	D	-0.06%
	STT	A	-0.06%
	GPN	B	-0.06%
	CSGP	D	-0.06%
	RJF	A	-0.06%
	DXCM	D	-0.06%
	EXPE	B	-0.05%
	WY	D	-0.05%
	ZBH	C	-0.05%
	AEE	A	-0.05%
	FTV	C	-0.05%
	KEYS	A	-0.05%
	SW	A	-0.05%
	MOH	F	-0.04%
	TRMB	B	-0.04%
	GPC	D	-0.04%
	J	F	-0.04%
	LVS	C	-0.04%
	PODD	C	-0.04%
	SNA	A	-0.04%
	LUV	C	-0.04%
	LH	C	-0.04%
	CNP	B	-0.04%
	STX	D	-0.04%
	LYV	A	-0.04%
	FSLR	F	-0.04%
	WBD	C	-0.04%
	CBOE	B	-0.04%
	TDY	B	-0.04%
	REG	B	-0.03%
	KMX	B	-0.03%
	ALB	C	-0.03%
	BG	F	-0.03%
	EPAM	C	-0.03%
	SWK	D	-0.03%
	MRNA	F	-0.03%
	SWKS	F	-0.03%
	APTV	D	-0.03%
	AMCR	D	-0.03%
	DOC	D	-0.03%
	EL	F	-0.03%
	TXT	D	-0.03%
	CF	B	-0.03%
	EG	C	-0.03%
	ARE	D	-0.03%
	MTCH	D	-0.02%
	CZR	F	-0.02%
	HAS	D	-0.02%
	FRT	B	-0.02%
	ENPH	F	-0.02%
	WYNN	D	-0.02%
	MGM	D	-0.02%
	SOLV	C	-0.02%
	CRL	C	-0.02%
	GL	B	-0.02%
	LKQ	D	-0.02%
	PAYC	B	-0.02%
	TECH	D	-0.02%
	NCLH	B	-0.02%
	DAY	B	-0.02%
	ALLE	D	-0.02%
	NWS	B	-0.01%
	FOX	A	-0.01%
	FMC	D	-0.01%

MFUS: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Asset Management Business Services Packaged Foods Software - Application Specialty Chemicals Specialty Retail Utilities - Regulated Electric Capital Markets Credit Services Aerospace & Defense Insurance - Property & Casualty REIT - Diversified Building Materials Engineering & Construction Medical Instruments & Supplies Packaging & Containers Information Technology Services REIT - Residential

Keywords: S&P 500 Nasdaq 100 Natural Gas Insurance Chemical Real Estate Investment Trust Aerospace Banking Bank Computing Mining Electricity Electronics Telecommunications Dow Jones Component Transport Beverage Clothing Retail Store Retailing

SPXE: Top Represented Industries & Keywords

Industries: Diversified Industrials Software - Application Utilities - Regulated Electric Business Services Semiconductors Diagnostics & Research Asset Management Aerospace & Defense Banks - Regional - US Capital Markets Drug Manufacturers - Major Packaged Foods Medical Devices Medical Instruments & Supplies Specialty Retail Credit Services Health Care Plans Household & Personal Products Information Technology Services Insurance - Property & Casualty

Keywords: S&P 500 Nasdaq 100 Computing Electricity Insurance Dow Jones Component Natural Gas Electronics Medicine Real Estate Investment Trust Telecommunications Aerospace Bank Semiconductor Banking Chemical Insurance Products Transport Investment Bank Mobile Devices