MFUS vs. SPYV ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to SPDR S&P 500 Value ETF (based on S&P 500 Value Index) (SPYV)

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

$50.67

Average Daily Volume

5,789

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

SPYV

SPDR S&P 500 Value ETF (based on S&P 500 Value Index)

SPYV Description

The investment seeks to provide investment results that, before fees and expenses, correspond to the total return performance of an index that tracks the performance of large capitalization exchange traded U.S. equity securities exhibiting "value" characteristics. The fund employs a replication strategy in seeking to track the performance of the S&P 500 Value Index. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index measures the performance of the large-capitalization value sector in the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$53.46

Average Daily Volume

2,491,997

Number of Holdings ^*

432

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	SPYV
30 Days	0.35%	0.56%
60 Days	4.44%	3.68%
90 Days	6.01%	5.93%
12 Months	31.84%	26.12%

331 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in SPYV	Overlap
A	F	0.05%	0.19%	0.05%
ABBV	F	1.65%	1.04%	1.04%
ACN	B	0.24%	0.49%	0.24%
ADM	F	0.24%	0.12%	0.12%
ADP	A	0.11%	0.35%	0.11%
ADSK	B	0.09%	0.15%	0.09%
AEP	D	0.08%	0.24%	0.08%
AES	F	0.01%	0.05%	0.01%
AFL	C	0.21%	0.25%	0.21%
AIG	B	0.36%	0.23%	0.23%
AIZ	A	0.08%	0.05%	0.05%
AJG	A	0.15%	0.15%	0.15%
AKAM	F	0.03%	0.04%	0.03%
ALGN	D	0.01%	0.03%	0.01%
ALL	B	0.25%	0.24%	0.24%
AMGN	F	1.03%	0.81%	0.81%
AMP	A	0.17%	0.12%	0.12%
AMT	F	0.15%	0.25%	0.15%
ANSS	B	0.05%	0.06%	0.05%
AON	B	0.25%	0.19%	0.19%
AOS	F	0.09%	0.02%	0.02%
APH	B	0.12%	0.18%	0.12%
ATO	B	0.02%	0.1%	0.02%
AVB	B	0.03%	0.15%	0.03%
AVY	F	0.1%	0.08%	0.08%
AXP	B	0.22%	0.23%	0.22%
AZO	B	0.28%	0.08%	0.08%
BAC	A	0.42%	1.41%	0.42%
BALL	D	0.07%	0.08%	0.07%
BAX	F	0.05%	0.09%	0.05%
BBY	C	0.22%	0.08%	0.08%
BDX	F	0.12%	0.31%	0.12%
BEN	C	0.02%	0.03%	0.02%
BIIB	F	0.07%	0.12%	0.07%
BK	B	0.18%	0.27%	0.18%
BKR	B	0.07%	0.2%	0.07%
BMY	B	0.4%	0.52%	0.4%
BR	A	0.16%	0.05%	0.05%
BRK.A	B	2.36%	3.94%	2.36%
BRO	B	0.12%	0.03%	0.03%
BSX	A	0.2%	0.27%	0.2%
BWA	B	0.01%	0.04%	0.01%
BX	A	0.12%	0.17%	0.12%
BXP	D	0.02%	0.06%	0.02%
C	B	0.65%	0.61%	0.61%
CAG	F	0.04%	0.06%	0.04%
CAH	B	0.25%	0.13%	0.13%
CARR	C	0.05%	0.15%	0.05%
CAT	B	0.2%	0.39%	0.2%
CB	C	0.16%	0.49%	0.16%
CBRE	B	0.05%	0.19%	0.05%
CCI	F	0.07%	0.21%	0.07%
CCL	B	0.02%	0.03%	0.02%
CDW	F	0.03%	0.07%	0.03%
CEG	D	0.11%	0.19%	0.11%
CFG	B	0.04%	0.1%	0.04%
CHD	A	0.07%	0.06%	0.06%
CHRW	A	0.13%	0.06%	0.06%
CHTR	B	0.3%	0.1%	0.1%
CI	D	0.13%	0.42%	0.13%
CINF	A	0.02%	0.11%	0.02%
CL	F	0.37%	0.21%	0.21%
CLX	A	0.13%	0.09%	0.09%
CMCSA	B	0.16%	0.8%	0.16%
CME	B	0.14%	0.24%	0.14%
CMI	A	0.13%	0.23%	0.13%
CMS	D	0.03%	0.09%	0.03%
CNC	F	0.05%	0.15%	0.05%
COF	B	0.27%	0.33%	0.27%
COP	C	0.07%	0.19%	0.07%
COR	B	0.17%	0.2%	0.17%
COST	B	1.33%	1.1%	1.1%
CPB	F	0.05%	0.04%	0.04%
CPT	C	0.06%	0.06%	0.06%
CSCO	A	0.65%	1.09%	0.65%
CSX	B	0.11%	0.16%	0.11%
CTAS	B	0.19%	0.16%	0.16%
CTLT	D	0.02%	0.05%	0.02%
CTVA	C	0.04%	0.19%	0.04%
CVS	F	0.66%	0.34%	0.34%
CVX	A	0.39%	1.25%	0.39%
D	D	0.07%	0.22%	0.07%
DD	D	0.1%	0.17%	0.1%
DELL	C	0.03%	0.09%	0.03%
DFS	B	0.09%	0.09%	0.09%
DG	F	0.1%	0.08%	0.08%
DGX	B	0.09%	0.08%	0.08%
DHR	F	0.26%	0.74%	0.26%
DLR	C	0.09%	0.15%	0.09%
DLTR	F	0.03%	0.06%	0.03%
DOV	A	0.02%	0.13%	0.02%
DOW	F	0.02%	0.16%	0.02%
DPZ	C	0.13%	0.04%	0.04%
DRI	B	0.03%	0.04%	0.03%
DTE	D	0.02%	0.11%	0.02%
DUK	D	0.14%	0.4%	0.14%
DVA	C	0.15%	0.01%	0.01%
EA	A	0.17%	0.1%	0.1%
EBAY	C	0.36%	0.14%	0.14%
ECL	C	0.08%	0.14%	0.08%
ED	D	0.06%	0.16%	0.06%
EFX	F	0.11%	0.09%	0.09%
EIX	C	0.05%	0.15%	0.05%
ELV	F	0.16%	0.47%	0.16%
EMN	D	0.04%	0.06%	0.04%
EMR	A	0.08%	0.34%	0.08%
EQR	C	0.04%	0.11%	0.04%
ERIE	F	0.05%	0.02%	0.02%
ES	D	0.04%	0.1%	0.04%
ESS	C	0.04%	0.09%	0.04%
ETR	B	0.05%	0.15%	0.05%
EVRG	A	0.02%	0.07%	0.02%
EXC	C	0.07%	0.18%	0.07%
EXPD	C	0.11%	0.05%	0.05%
EXR	D	0.11%	0.16%	0.11%
F	C	0.15%	0.2%	0.15%
FAST	B	0.13%	0.11%	0.11%
FDS	A	0.04%	0.04%	0.04%
FE	D	0.03%	0.1%	0.03%
FFIV	B	0.06%	0.07%	0.06%
FI	A	0.18%	0.27%	0.18%
FIS	B	0.08%	0.22%	0.08%
FITB	A	0.04%	0.14%	0.04%
FOXA	A	0.11%	0.05%	0.05%
GD	C	0.25%	0.37%	0.25%
GE	D	0.56%	0.52%	0.52%
GEHC	D	0.08%	0.19%	0.08%
GEN	B	0.1%	0.07%	0.07%
GILD	B	0.87%	0.57%	0.57%
GIS	F	0.19%	0.17%	0.17%
GLW	B	0.21%	0.17%	0.17%
GM	B	0.37%	0.29%	0.29%
GNRC	B	0.05%	0.02%	0.02%
GS	B	0.36%	0.86%	0.36%
GWW	B	0.21%	0.06%	0.06%
HBAN	A	0.03%	0.12%	0.03%
HCA	D	0.27%	0.16%	0.16%
HD	B	0.62%	1.17%	0.62%
HIG	C	0.06%	0.16%	0.06%
HII	F	0.02%	0.04%	0.02%
HOLX	D	0.04%	0.09%	0.04%
HPE	B	0.11%	0.13%	0.11%
HPQ	B	0.29%	0.17%	0.17%
HRL	F	0.02%	0.04%	0.02%
HSIC	F	0.03%	0.04%	0.03%
HST	D	0.02%	0.02%	0.02%
HSY	F	0.06%	0.07%	0.06%
HUBB	C	0.03%	0.06%	0.03%
HWM	B	0.15%	0.09%	0.09%
IBM	D	1.07%	0.92%	0.92%
ICE	C	0.29%	0.42%	0.29%
IDXX	F	0.05%	0.07%	0.05%
IEX	B	0.09%	0.08%	0.08%
IFF	F	0.03%	0.11%	0.03%
INCY	B	0.01%	0.06%	0.01%
INTC	C	0.19%	0.52%	0.19%
INVH	D	0.04%	0.09%	0.04%
IP	B	0.09%	0.09%	0.09%
IPG	F	0.04%	0.05%	0.04%
IR	A	0.08%	0.05%	0.05%
IRM	D	0.13%	0.08%	0.08%
ISRG	A	0.28%	0.3%	0.28%
ITW	B	0.1%	0.19%	0.1%
IVZ	B	0.03%	0.04%	0.03%
JBHT	C	0.02%	0.07%	0.02%
JBL	C	0.03%	0.03%	0.03%
JCI	A	0.06%	0.26%	0.06%
JKHY	C	0.11%	0.06%	0.06%
JNJ	D	1.27%	1.76%	1.27%
JNPR	D	0.14%	0.06%	0.06%
JPM	A	0.93%	3.14%	0.93%
K	A	0.15%	0.1%	0.1%
KDP	C	0.07%	0.17%	0.07%
KEY	B	0.02%	0.08%	0.02%
KHC	F	0.16%	0.14%	0.14%
KIM	A	0.02%	0.08%	0.02%
KMB	D	0.17%	0.21%	0.17%
KMI	B	0.1%	0.24%	0.1%
KO	F	1.07%	0.7%	0.7%
KR	A	0.37%	0.18%	0.18%
L	A	0.06%	0.07%	0.06%
LDOS	C	0.13%	0.12%	0.12%
LEN	D	0.07%	0.09%	0.07%
LHX	B	0.27%	0.23%	0.23%
LMT	D	0.78%	0.55%	0.55%
LNT	C	0.02%	0.07%	0.02%
LOW	B	0.36%	0.71%	0.36%
LW	B	0.03%	0.02%	0.02%
LYB	F	0.16%	0.11%	0.11%
MA	B	0.28%	0.56%	0.28%
MAA	C	0.02%	0.08%	0.02%
MAS	D	0.06%	0.04%	0.04%
MCD	C	0.54%	0.55%	0.54%
MCK	B	0.56%	0.37%	0.37%
MCO	C	0.14%	0.18%	0.14%
MDLZ	F	0.24%	0.24%	0.24%
MET	C	0.32%	0.22%	0.22%
MHK	D	0.01%	0.04%	0.01%
MKC	D	0.06%	0.09%	0.06%
MKTX	C	0.02%	0.05%	0.02%
MLM	B	0.07%	0.06%	0.06%
MMC	D	0.2%	0.25%	0.2%
MMM	C	0.58%	0.34%	0.34%
MNST	B	0.07%	0.07%	0.07%
MO	A	0.73%	0.43%	0.43%
MOS	D	0.01%	0.04%	0.01%
MPC	D	0.32%	0.11%	0.11%
MRK	F	0.89%	0.72%	0.72%
MRO	B	0.03%	0.04%	0.03%
MS	A	0.2%	0.75%	0.2%
MSCI	B	0.07%	0.09%	0.07%
MSI	B	0.19%	0.15%	0.15%
MTB	A	0.04%	0.16%	0.04%
MTD	F	0.09%	0.09%	0.09%
MU	D	0.17%	0.59%	0.17%
NDAQ	B	0.05%	0.15%	0.05%
NDSN	B	0.04%	0.07%	0.04%
NEE	D	0.24%	0.72%	0.24%
NEM	F	0.18%	0.24%	0.18%
NI	A	0.02%	0.07%	0.02%
NKE	F	0.06%	0.24%	0.06%
NOC	D	0.37%	0.33%	0.33%
NRG	C	0.07%	0.09%	0.07%
NSC	B	0.07%	0.29%	0.07%
NTAP	D	0.1%	0.07%	0.07%
NTRS	A	0.03%	0.1%	0.03%
NUE	D	0.08%	0.07%	0.07%
NWSA	B	0.04%	0.05%	0.04%
O	D	0.06%	0.23%	0.06%
OKE	A	0.09%	0.11%	0.09%
OMC	A	0.06%	0.1%	0.06%
ORLY	A	0.2%	0.09%	0.09%
OTIS	D	0.08%	0.12%	0.08%
PARA	B	0.01%	0.03%	0.01%
PAYX	B	0.04%	0.13%	0.04%
PEG	C	0.06%	0.2%	0.06%
PEP	D	0.76%	0.67%	0.67%
PFE	F	0.62%	0.73%	0.62%
PFG	C	0.01%	0.09%	0.01%
PG	C	1.03%	1.1%	1.03%
PGR	A	0.57%	0.35%	0.35%
PH	A	0.14%	0.09%	0.09%
PKG	B	0.1%	0.1%	0.1%
PM	B	0.92%	0.57%	0.57%
PNC	B	0.11%	0.38%	0.11%
PNR	A	0.02%	0.02%	0.02%
PNW	A	0.01%	0.05%	0.01%
POOL	D	0.07%	0.03%	0.03%
PPG	F	0.05%	0.14%	0.05%
PPL	A	0.04%	0.11%	0.04%
PRU	B	0.23%	0.21%	0.21%
PSA	D	0.1%	0.14%	0.1%
PSX	C	0.22%	0.25%	0.22%
PTC	B	0.04%	0.04%	0.04%
PWR	B	0.12%	0.07%	0.07%
PYPL	A	0.12%	0.39%	0.12%
QCOM	F	0.8%	0.43%	0.43%
QRVO	F	0.01%	0.03%	0.01%
REGN	F	0.4%	0.16%	0.16%
RF	A	0.02%	0.11%	0.02%
RL	B	0.03%	0.02%	0.02%
RMD	C	0.17%	0.17%	0.17%
ROL	C	0.06%	0.04%	0.04%
ROP	A	0.06%	0.16%	0.06%
RSG	B	0.13%	0.09%	0.09%
RTX	D	0.22%	0.75%	0.22%
RVTY	C	0.01%	0.07%	0.01%
SBAC	D	0.03%	0.07%	0.03%
SBUX	B	0.1%	0.21%	0.1%
SCHW	B	0.05%	0.51%	0.05%
SHW	A	0.22%	0.21%	0.21%
SJM	F	0.04%	0.06%	0.04%
SLB	C	0.01%	0.29%	0.01%
SO	D	0.13%	0.44%	0.13%
SPG	A	0.16%	0.16%	0.16%
SPGI	C	0.29%	0.42%	0.29%
SRE	B	0.07%	0.27%	0.07%
STE	D	0.08%	0.04%	0.04%
STLD	C	0.04%	0.04%	0.04%
STZ	D	0.06%	0.17%	0.06%
SYF	B	0.27%	0.12%	0.12%
SYY	D	0.13%	0.18%	0.13%
T	A	0.74%	0.74%	0.74%
TAP	B	0.08%	0.05%	0.05%
TER	F	0.03%	0.08%	0.03%
TFC	B	0.08%	0.29%	0.08%
TFX	F	0.03%	0.04%	0.03%
TGT	C	0.75%	0.33%	0.33%
TJX	A	0.36%	0.22%	0.22%
TMO	F	0.3%	0.62%	0.3%
TMUS	A	0.42%	0.53%	0.42%
TPR	A	0.01%	0.06%	0.01%
TROW	A	0.09%	0.13%	0.09%
TRV	B	0.2%	0.27%	0.2%
TSCO	D	0.11%	0.08%	0.08%
TSN	B	0.17%	0.08%	0.08%
TTWO	A	0.07%	0.07%	0.07%
TXN	B	0.3%	0.58%	0.3%
UAL	A	0.01%	0.13%	0.01%
UDR	C	0.03%	0.06%	0.03%
UHS	D	0.06%	0.06%	0.06%
ULTA	C	0.04%	0.03%	0.03%
UNH	B	0.77%	1.62%	0.77%
UNP	D	0.51%	0.38%	0.38%
UPS	C	0.25%	0.46%	0.25%
USB	B	0.1%	0.36%	0.1%
V	A	0.3%	0.81%	0.3%
VLO	C	0.16%	0.2%	0.16%
VLTO	D	0.04%	0.12%	0.04%
VRSK	A	0.16%	0.08%	0.08%
VRSN	C	0.04%	0.04%	0.04%
VRTX	B	0.23%	0.22%	0.22%
VTR	C	0.04%	0.12%	0.04%
VTRS	B	0.13%	0.07%	0.07%
VZ	D	1.03%	0.8%	0.8%
WAB	B	0.05%	0.16%	0.05%
WAT	B	0.06%	0.07%	0.06%
WBA	D	0.13%	0.03%	0.03%
WDC	D	0.08%	0.11%	0.08%
WELL	B	0.12%	0.37%	0.12%
WFC	A	0.87%	1.11%	0.87%
WM	A	0.28%	0.2%	0.2%
WMB	B	0.1%	0.19%	0.1%
WMT	A	1.72%	1.7%	1.7%
WRB	B	0.02%	0.08%	0.02%
WTW	A	0.11%	0.15%	0.11%
XOM	B	0.44%	2.52%	0.44%
XYL	F	0.11%	0.14%	0.11%
YUM	B	0.14%	0.1%	0.1%
ZBRA	B	0.04%	0.1%	0.04%
ZTS	D	0.05%	0.17%	0.05%

MFUS Overweight 484 Positions Relative to SPYV

Symbol	Grade	Weight
LLY	F	2.52%
META	B	2.36%
NVDA	A	1.82%
AMZN	A	1.64%
AVGO	C	1.63%
ORCL	A	1.42%
AAPL	C	0.96%
AMAT	F	0.55%
NFLX	A	0.48%
BKNG	A	0.41%
NOW	A	0.34%
THC	B	0.28%
ANF	C	0.25%
KLAC	F	0.24%
SFM	B	0.24%
PANW	B	0.23%
FICO	B	0.22%
UBER	F	0.22%
LII	B	0.21%
CMG	B	0.2%
VST	B	0.2%
UTHR	B	0.19%
WSM	F	0.19%
LRCX	F	0.18%
BAH	C	0.18%
DECK	B	0.16%
CASY	B	0.16%
PLTR	B	0.16%
WSO	B	0.16%
ANET	C	0.15%
MUSA	B	0.15%
TDG	D	0.15%
KKR	B	0.14%
IT	B	0.14%
RPM	A	0.13%
EVR	B	0.12%
CW	C	0.11%
CACI	C	0.11%
BWXT	B	0.11%
GDDY	B	0.11%
NVR	D	0.1%
AYI	A	0.1%
TRGP	B	0.1%
PHM	D	0.1%
CRS	B	0.1%
JXN	C	0.1%
DASH	A	0.1%
ALSN	B	0.1%
ARES	B	0.09%
GPI	B	0.09%
LSTR	B	0.09%
CALM	B	0.09%
URI	B	0.09%
EHC	B	0.09%
RCL	A	0.09%
HLT	A	0.09%
TMHC	B	0.09%
ABG	B	0.08%
HCC	C	0.08%
HRB	D	0.08%
HLI	B	0.08%
AEO	F	0.08%
WCC	B	0.08%
MPWR	F	0.08%
ITT	A	0.08%
SMCI	F	0.08%
CPRT	A	0.08%
ATR	A	0.08%
SEIC	A	0.08%
DKS	D	0.08%
EQH	B	0.08%
GPK	D	0.08%
MLI	B	0.08%
TYL	B	0.08%
SLG	C	0.08%
CNX	B	0.07%
EXP	B	0.07%
COIN	B	0.07%
R	B	0.07%
DHI	D	0.07%
SCI	B	0.07%
BCC	B	0.07%
ALNY	D	0.07%
GLPI	D	0.07%
THO	B	0.07%
LPX	A	0.07%
VNO	C	0.07%
BTU	C	0.06%
ATGE	C	0.06%
CMC	B	0.06%
NXST	C	0.06%
FCN	F	0.06%
KTB	A	0.06%
LECO	C	0.06%
CHE	D	0.06%
GAP	B	0.06%
TPH	C	0.06%
TW	B	0.06%
BC	D	0.06%
WEN	C	0.06%
SEE	C	0.06%
MMS	F	0.06%
TXRH	A	0.06%
JLL	C	0.06%
LPLA	A	0.06%
RGA	A	0.06%
PK	C	0.06%
AMG	B	0.06%
AN	C	0.06%
MSM	C	0.06%
CCK	D	0.06%
FTNT	B	0.06%
MTH	D	0.06%
TTC	F	0.06%
TOL	B	0.06%
INGR	B	0.06%
BERY	D	0.06%
APP	B	0.06%
WU	F	0.06%
UFPI	B	0.06%
SKYW	B	0.06%
URBN	C	0.05%
CRBG	C	0.05%
NFG	D	0.05%
WST	B	0.05%
OGN	F	0.05%
FANG	C	0.05%
MTN	C	0.05%
SMG	D	0.05%
USFD	B	0.05%
COOP	B	0.05%
GVA	B	0.05%
HBI	B	0.05%
G	B	0.05%
EXEL	B	0.05%
GNTX	C	0.05%
SLGN	B	0.05%
TEX	D	0.05%
VIRT	B	0.05%
CRI	D	0.05%
ALLY	C	0.05%
POST	D	0.05%
SUI	F	0.05%
BFH	B	0.05%
CBT	C	0.05%
IBKR	A	0.05%
LUMN	C	0.05%
LAMR	D	0.05%
NSIT	F	0.05%
SLM	A	0.05%
FCNCA	B	0.05%
SQ	B	0.05%
FIX	B	0.05%
DOX	C	0.04%
AMH	C	0.04%
ADBE	C	0.04%
TRN	B	0.04%
BJ	B	0.04%
CDP	C	0.04%
WH	A	0.04%
ACM	B	0.04%
SEM	C	0.04%
SON	F	0.04%
CLH	B	0.04%
AVT	C	0.04%
BDC	C	0.04%
LANC	C	0.04%
ELS	B	0.04%
AGNC	C	0.04%
CVLT	B	0.04%
JWN	B	0.04%
SANM	C	0.04%
RUSHA	B	0.04%
PSTG	D	0.04%
HUBG	A	0.04%
PRIM	B	0.04%
WTM	A	0.04%
GBX	A	0.04%
BLDR	C	0.04%
SLVM	C	0.04%
HEI	A	0.04%
BHF	B	0.04%
AROC	B	0.04%
FLO	F	0.04%
GEO	B	0.04%
OLN	F	0.04%
CE	F	0.04%
UNM	A	0.04%
FL	F	0.04%
CMA	A	0.04%
ATI	F	0.04%
LOPE	B	0.04%
FTI	B	0.04%
NBIX	C	0.04%
CPNG	B	0.04%
GATX	B	0.04%
TKR	F	0.04%
JHG	A	0.04%
SIG	B	0.04%
CRUS	F	0.04%
ARW	F	0.04%
EME	B	0.04%
MAC	B	0.04%
CUBE	D	0.04%
AR	B	0.04%
MAR	A	0.04%
RS	C	0.04%
KD	A	0.04%
TDS	C	0.04%
RGLD	C	0.04%
CNO	B	0.04%
THG	A	0.04%
SRCL	B	0.04%
TGNA	B	0.04%
MHO	D	0.04%
MOG.A	B	0.04%
ABM	B	0.04%
FLEX	B	0.04%
DCI	A	0.04%
UNF	B	0.03%
XRAY	F	0.03%
DRH	C	0.03%
HXL	F	0.03%
ORA	B	0.03%
BKE	A	0.03%
RYN	F	0.03%
APAM	B	0.03%
OI	C	0.03%
OMF	A	0.03%
BURL	C	0.03%
FNF	C	0.03%
WPC	F	0.03%
WHR	B	0.03%
LNC	B	0.03%
VC	F	0.03%
FHI	A	0.03%
BKU	A	0.03%
MAN	F	0.03%
AMKR	F	0.03%
PRG	B	0.03%
CG	B	0.03%
PLXS	C	0.03%
DDS	B	0.03%
APLE	B	0.03%
COHR	C	0.03%
LBRDK	C	0.03%
MC	B	0.03%
BFAM	F	0.03%
RLI	A	0.03%
GMS	B	0.03%
GNW	B	0.03%
CPAY	A	0.03%
TPX	B	0.03%
GGG	B	0.03%
AVA	C	0.03%
X	D	0.03%
AVTR	F	0.03%
RPRX	F	0.03%
SM	C	0.03%
MASI	B	0.03%
DBRG	F	0.03%
SHOO	D	0.03%
MATX	B	0.03%
XPO	B	0.03%
BLD	F	0.03%
ASO	F	0.03%
OSK	B	0.03%
HOOD	B	0.03%
NYT	C	0.03%
KBH	D	0.03%
MANH	C	0.03%
MORN	B	0.03%
COLD	F	0.03%
AWI	B	0.03%
PHIN	B	0.02%
REZI	A	0.02%
HE	F	0.02%
TTMI	B	0.02%
DNOW	B	0.02%
ZION	B	0.02%
SSNC	C	0.02%
LAUR	B	0.02%
WAL	B	0.02%
LXP	D	0.02%
SNV	B	0.02%
BHE	C	0.02%
UHAL	D	0.02%
SATS	D	0.02%
AA	C	0.02%
AXTA	A	0.02%
JBLU	C	0.02%
CSL	B	0.02%
LEG	F	0.02%
TTEK	F	0.02%
ODFL	B	0.02%
OSIS	B	0.02%
VSH	F	0.02%
ANDE	D	0.02%
TDC	F	0.02%
LAD	B	0.02%
HNI	B	0.02%
APG	C	0.02%
HP	C	0.02%
WKC	C	0.02%
SNDR	B	0.02%
NSP	F	0.02%
BRKR	F	0.02%
NAVI	D	0.02%
MDU	D	0.02%
ODP	F	0.02%
RHI	B	0.02%
PMT	D	0.02%
VFC	C	0.02%
VVV	B	0.02%
M	C	0.02%
RLJ	C	0.02%
OC	A	0.02%
EPC	F	0.02%
LNW	F	0.02%
APOG	B	0.02%
PFSI	D	0.02%
SAM	B	0.02%
YELP	C	0.02%
PBF	F	0.02%
NWL	B	0.02%
AIR	B	0.02%
SXT	B	0.02%
NTCT	B	0.02%
VSCO	B	0.02%
GWRE	A	0.02%
MCY	B	0.02%
XHR	B	0.02%
DLB	D	0.02%
SKX	F	0.02%
EWBC	B	0.02%
OHI	C	0.02%
DORM	B	0.02%
AGCO	F	0.02%
HAE	B	0.02%
PAG	B	0.02%
SBH	A	0.02%
CC	C	0.02%
GHC	B	0.02%
FAF	C	0.02%
HOG	D	0.02%
CXW	B	0.02%
KBR	D	0.02%
GEF	B	0.02%
WMS	F	0.02%
RRC	B	0.02%
KSS	D	0.02%
KMPR	A	0.02%
DK	D	0.02%
PVH	C	0.02%
THS	F	0.02%
MSA	D	0.02%
STC	C	0.02%
MTG	C	0.02%
VSTO	A	0.02%
GMED	B	0.02%
COKE	C	0.02%
ADNT	D	0.02%
PDCO	F	0.02%
LZB	B	0.02%
PINC	B	0.02%
NEU	C	0.02%
PSN	C	0.02%
PNM	B	0.02%
ACA	B	0.02%
WERN	B	0.02%
JEF	B	0.02%
AAP	C	0.01%
SVC	F	0.01%
NOV	C	0.01%
KNX	C	0.01%
CPRI	F	0.01%
DINO	D	0.01%
SCL	C	0.01%
UHAL	D	0.01%
RKT	F	0.01%
ELAN	C	0.01%
MLKN	D	0.01%
MKSI	C	0.01%
CACC	D	0.01%
IMKTA	B	0.01%
CNXN	C	0.01%
WOR	F	0.01%
ECPG	C	0.01%
ARI	C	0.01%
IGT	F	0.01%
RDN	C	0.01%
HTH	B	0.01%
ACI	C	0.01%
GIII	C	0.01%
UVV	B	0.01%
SR	C	0.01%
WGO	B	0.01%
SSB	B	0.01%
ARCH	B	0.01%
CVI	F	0.01%
ALEX	B	0.01%
UGI	D	0.01%
SEB	F	0.01%
OUT	B	0.01%
PB	B	0.01%
XRX	F	0.01%
SWX	B	0.01%
ARMK	B	0.01%
KALU	C	0.01%
CNS	C	0.01%
CENTA	C	0.01%
ESI	B	0.01%
SHO	D	0.01%
SPR	F	0.01%
WAFD	B	0.01%
JELD	F	0.01%
JBGS	F	0.01%
SIGI	B	0.01%
PECO	B	0.01%
AMED	F	0.01%
WMK	B	0.01%
CLF	F	0.01%
CFR	B	0.01%
OMI	F	0.01%
BRC	B	0.01%
DY	C	0.01%
FDP	B	0.01%
STRA	C	0.01%
DAN	D	0.01%
FELE	B	0.01%
SPB	A	0.01%
LEA	F	0.01%
CNM	D	0.01%
KN	B	0.01%
ONB	B	0.01%
PPC	C	0.01%
CBSH	A	0.01%
IDCC	B	0.01%
TNET	C	0.01%
FHN	A	0.01%
DXC	B	0.01%
CROX	F	0.01%
CSGS	B	0.01%
WTFC	B	0.01%
CADE	B	0.01%
NNN	F	0.01%
ESNT	D	0.01%
BBWI	C	0.01%
LADR	B	0.01%
CR	B	0.01%
SAIC	D	0.01%
FLR	C	0.01%
WWD	B	0.01%
H	B	0.01%
ESAB	B	0.01%
MUR	D	0.01%
RBC	B	0.01%
DTM	A	0.01%
GOLF	B	0.01%
GES	F	0.01%
IOSP	B	0.01%
GME	C	0.01%
PTEN	C	0.01%
SCS	B	0.01%
NNI	C	0.01%
SAH	B	0.01%
PSMT	D	0.01%
KEX	A	0.01%
AMWD	B	0.01%
ICUI	D	0.01%
ADC	A	0.01%
CWEN	D	0.01%
BMRN	F	0.01%
VNT	C	0.01%
WBS	A	0.01%
FYBR	D	0.01%
DEI	B	0.01%
SF	A	0.01%
GT	C	0.01%
FR	D	0.01%
SCCO	F	0.0%
NOMD	F	0.0%
WOLF	F	0.0%
HUN	F	0.0%

MFUS Underweight 101 Positions Relative to SPYV

Symbol	Grade	Weight
ABT	C	-0.94%
DIS	B	-0.84%
HON	B	-0.66%
MDT	D	-0.53%
LIN	D	-0.5%
PLD	D	-0.49%
APD	B	-0.32%
FDX	B	-0.3%
BA	F	-0.29%
ETN	B	-0.26%
GEV	B	-0.25%
ADI	D	-0.22%
KVUE	A	-0.21%
DE	D	-0.21%
SYK	A	-0.21%
EQIX	B	-0.21%
PCG	A	-0.2%
CTSH	A	-0.19%
XEL	A	-0.17%
OXY	F	-0.16%
HUM	D	-0.16%
FCX	F	-0.16%
VICI	D	-0.15%
ABNB	C	-0.15%
RJF	A	-0.14%
WEC	B	-0.14%
TT	B	-0.13%
STT	B	-0.13%
GPN	B	-0.13%
KEYS	C	-0.13%
EW	F	-0.12%
AWK	D	-0.12%
HAL	C	-0.12%
SW	B	-0.12%
AME	A	-0.11%
WY	F	-0.11%
AEE	B	-0.11%
IQV	F	-0.11%
EQT	B	-0.11%
DVN	F	-0.11%
EOG	A	-0.11%
WBD	B	-0.1%
FSLR	F	-0.1%
ZBH	C	-0.1%
TDY	B	-0.1%
LUV	B	-0.09%
CNP	B	-0.09%
LH	B	-0.09%
MCHP	F	-0.08%
ROK	B	-0.08%
TXT	D	-0.08%
MRNA	F	-0.08%
DAL	A	-0.08%
GPC	D	-0.08%
ON	F	-0.08%
TRMB	B	-0.08%
ARE	F	-0.08%
CSGP	F	-0.08%
J	D	-0.08%
SWK	F	-0.07%
SWKS	F	-0.07%
APTV	F	-0.07%
AMCR	D	-0.07%
GRMN	A	-0.07%
NXPI	F	-0.07%
EL	F	-0.07%
EG	D	-0.07%
DOC	C	-0.07%
PCAR	B	-0.07%
KMX	B	-0.06%
TECH	D	-0.06%
REG	A	-0.06%
BG	D	-0.06%
STX	D	-0.06%
VMC	B	-0.06%
GL	B	-0.05%
LKQ	C	-0.05%
SNA	A	-0.05%
SOLV	C	-0.05%
PODD	B	-0.05%
DXCM	C	-0.05%
CRL	C	-0.05%
ALB	C	-0.05%
CBOE	D	-0.04%
FMC	F	-0.04%
ALLE	D	-0.04%
EPAM	B	-0.04%
MTCH	F	-0.04%
MOH	F	-0.04%
HAS	D	-0.04%
FRT	B	-0.04%
FOX	A	-0.03%
DAY	B	-0.03%
ENPH	F	-0.03%
CTRA	B	-0.03%
PAYC	B	-0.03%
CF	B	-0.03%
LVS	C	-0.03%
NWS	B	-0.02%
CZR	F	-0.02%
MGM	D	-0.01%