MFUS vs. VFVA ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Vanguard Wellington Fund ETF (VFVA)

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

$51.86

Average Daily Volume

5,422

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

VFVA

Vanguard Wellington Fund ETF

VFVA Description

The investment seeks to provide long-term capital appreciation by investing in stocks with relatively lower share prices relative to fundamental values as determined by the advisor. The fund invests primarily in U.S. common stocks with the potential to generate higher returns relative to the broad U.S. equity market by investing in stocks with relatively lower share prices relative to fundamental values as determined by the advisor. Under normal circumstances, at least 80% of the fund's assets will be invested in securities issued by U.S. companies.

Grade (RS Rating)

Last Trade

$128.12

Average Daily Volume

12,985

Number of Holdings ^*

613

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	VFVA
30 Days	1.40%	4.75%
60 Days	3.06%	5.98%
90 Days	4.64%	5.92%
12 Months	31.57%	26.90%

278 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in VFVA	Overlap
ABG	C	0.08%	0.15%	0.08%
ADM	D	0.22%	0.23%	0.22%
ADNT	F	0.02%	0.19%	0.02%
AEO	F	0.07%	0.18%	0.07%
AFL	B	0.21%	0.09%	0.09%
AGCO	D	0.02%	0.18%	0.02%
AIG	B	0.34%	0.51%	0.34%
ALL	A	0.26%	0.17%	0.17%
ALLY	C	0.05%	0.25%	0.05%
ALSN	B	0.11%	0.16%	0.11%
AMG	B	0.06%	0.21%	0.06%
AMKR	D	0.03%	0.07%	0.03%
AMWD	C	0.01%	0.06%	0.01%
ANDE	D	0.02%	0.12%	0.02%
ANET	C	0.14%	0.03%	0.03%
AR	B	0.05%	0.13%	0.05%
ARW	D	0.04%	0.43%	0.04%
ASO	F	0.03%	0.21%	0.03%
ATGE	B	0.06%	0.11%	0.06%
AVT	C	0.04%	0.25%	0.04%
AZO	C	0.28%	0.26%	0.26%
BAC	A	0.45%	0.76%	0.45%
BBWI	C	0.01%	0.18%	0.01%
BC	C	0.06%	0.18%	0.06%
BCC	B	0.07%	0.07%	0.07%
BDX	F	0.11%	0.29%	0.11%
BEN	C	0.02%	0.05%	0.02%
BERY	C	0.06%	0.38%	0.06%
BFH	C	0.06%	0.17%	0.06%
BHE	C	0.02%	0.02%	0.02%
BHF	C	0.04%	0.22%	0.04%
BK	A	0.18%	0.5%	0.18%
BKU	A	0.03%	0.15%	0.03%
BLDR	D	0.04%	0.08%	0.04%
BMY	B	0.41%	0.46%	0.41%
BTU	B	0.05%	0.17%	0.05%
BWA	D	0.01%	0.25%	0.01%
C	A	0.69%	0.72%	0.69%
CADE	B	0.01%	0.16%	0.01%
CAG	F	0.04%	0.16%	0.04%
CAH	B	0.27%	0.26%	0.26%
CB	C	0.16%	0.48%	0.16%
CC	C	0.02%	0.02%	0.02%
CCL	A	0.02%	0.23%	0.02%
CE	F	0.02%	0.3%	0.02%
CFG	B	0.04%	0.13%	0.04%
CG	B	0.03%	0.03%	0.03%
CI	D	0.13%	0.66%	0.13%
CLF	F	0.01%	0.21%	0.01%
CMA	B	0.04%	0.15%	0.04%
CMC	B	0.06%	0.19%	0.06%
CMCSA	B	0.16%	0.68%	0.16%
CNC	D	0.04%	0.22%	0.04%
CNO	B	0.05%	0.04%	0.04%
COF	C	0.29%	0.66%	0.29%
COHR	B	0.03%	0.07%	0.03%
COOP	B	0.05%	0.13%	0.05%
COP	C	0.07%	0.65%	0.07%
CRBG	B	0.04%	0.02%	0.02%
CROX	D	0.01%	0.06%	0.01%
CSCO	B	0.68%	0.14%	0.14%
CVS	D	0.65%	0.74%	0.65%
CVX	A	0.39%	0.7%	0.39%
CXW	C	0.04%	0.07%	0.04%
DAN	D	0.01%	0.17%	0.01%
DG	F	0.09%	0.02%	0.02%
DGX	A	0.09%	0.03%	0.03%
DHI	F	0.06%	0.31%	0.06%
DINO	D	0.01%	0.16%	0.01%
DLTR	F	0.03%	0.1%	0.03%
DNOW	B	0.02%	0.09%	0.02%
DOW	F	0.02%	0.18%	0.02%
DTM	A	0.01%	0.17%	0.01%
DXC	B	0.01%	0.23%	0.01%
EBAY	D	0.36%	0.05%	0.05%
ELAN	D	0.01%	0.14%	0.01%
ELV	F	0.16%	0.07%	0.07%
EMN	C	0.04%	0.09%	0.04%
EMR	B	0.09%	0.14%	0.09%
EPC	F	0.02%	0.02%	0.02%
EQH	C	0.08%	0.07%	0.07%
ESI	B	0.01%	0.03%	0.01%
ESNT	F	0.01%	0.45%	0.01%
EWBC	A	0.02%	0.08%	0.02%
F	C	0.16%	0.68%	0.16%
FAF	A	0.02%	0.08%	0.02%
FANG	C	0.05%	0.3%	0.05%
FCNCA	A	0.06%	0.12%	0.06%
FDP	B	0.01%	0.11%	0.01%
FHN	A	0.01%	0.1%	0.01%
FI	A	0.19%	0.53%	0.19%
FIS	C	0.07%	0.22%	0.07%
FL	F	0.04%	0.09%	0.04%
FNF	B	0.03%	0.14%	0.03%
GAP	C	0.06%	0.1%	0.06%
GATX	A	0.04%	0.05%	0.04%
GBX	A	0.04%	0.16%	0.04%
GD	D	0.24%	0.26%	0.24%
GEF	A	0.02%	0.05%	0.02%
GEO	B	0.07%	0.04%	0.04%
GHC	B	0.02%	0.05%	0.02%
GIII	D	0.01%	0.17%	0.01%
GILD	C	0.87%	0.44%	0.44%
GM	C	0.4%	0.87%	0.4%
GNW	A	0.03%	0.12%	0.03%
GPI	B	0.09%	0.06%	0.06%
GPK	C	0.08%	0.06%	0.06%
GS	A	0.41%	0.44%	0.41%
GT	C	0.02%	0.34%	0.02%
HBI	B	0.05%	0.09%	0.05%
HCA	F	0.25%	0.76%	0.25%
HCC	B	0.07%	0.19%	0.07%
HIG	B	0.06%	0.07%	0.06%
HII	F	0.02%	0.11%	0.02%
HOG	D	0.02%	0.18%	0.02%
HPE	B	0.11%	0.32%	0.11%
HPQ	B	0.28%	0.42%	0.28%
HRB	D	0.08%	0.13%	0.08%
HUBG	A	0.04%	0.04%	0.04%
IBM	C	1.05%	0.18%	0.18%
IGT	F	0.01%	0.03%	0.01%
IMKTA	C	0.01%	0.17%	0.01%
INGR	C	0.07%	0.17%	0.07%
INTC	C	0.2%	0.66%	0.2%
IP	A	0.09%	0.02%	0.02%
IVZ	B	0.03%	0.19%	0.03%
JBL	C	0.03%	0.03%	0.03%
JEF	A	0.03%	0.17%	0.03%
JELD	F	0.01%	0.13%	0.01%
JHG	B	0.04%	0.07%	0.04%
JLL	D	0.06%	0.12%	0.06%
JNJ	C	1.18%	0.18%	0.18%
JPM	A	0.99%	0.54%	0.54%
JXN	C	0.1%	0.15%	0.1%
KALU	C	0.01%	0.04%	0.01%
KBH	D	0.03%	0.21%	0.03%
KEY	B	0.03%	0.19%	0.03%
KHC	F	0.15%	0.1%	0.1%
KMI	A	0.11%	0.11%	0.11%
KNX	C	0.01%	0.19%	0.01%
KR	B	0.38%	0.22%	0.22%
LEA	F	0.01%	0.17%	0.01%
LEG	F	0.02%	0.22%	0.02%
LEN	D	0.06%	0.08%	0.06%
LEN	D	0.06%	0.19%	0.06%
LNC	C	0.03%	0.32%	0.03%
LYB	F	0.15%	0.3%	0.15%
LZB	B	0.03%	0.14%	0.03%
M	F	0.02%	0.22%	0.02%
MAN	F	0.03%	0.12%	0.03%
MATX	C	0.03%	0.21%	0.03%
MCK	A	0.63%	0.35%	0.35%
MDU	D	0.02%	0.18%	0.02%
MET	A	0.32%	0.52%	0.32%
MHK	D	0.01%	0.28%	0.01%
MHO	D	0.04%	0.19%	0.04%
MLI	B	0.09%	0.22%	0.09%
MLKN	F	0.01%	0.07%	0.01%
MMM	D	0.6%	0.07%	0.07%
MO	A	0.73%	1.0%	0.73%
MOS	F	0.01%	0.23%	0.01%
MPC	D	0.34%	0.56%	0.34%
MS	A	0.22%	0.32%	0.22%
MTB	A	0.04%	0.18%	0.04%
MTG	C	0.02%	0.28%	0.02%
MTH	D	0.06%	0.05%	0.05%
MU	D	0.16%	0.59%	0.16%
MUR	D	0.01%	0.29%	0.01%
NAVI	F	0.02%	0.13%	0.02%
NEM	D	0.16%	0.4%	0.16%
NNI	D	0.01%	0.06%	0.01%
NOV	C	0.01%	0.19%	0.01%
NTCT	C	0.02%	0.08%	0.02%
NUE	C	0.08%	0.38%	0.08%
NWL	C	0.02%	0.13%	0.02%
NWSA	A	0.04%	0.14%	0.04%
NXST	C	0.05%	0.05%	0.05%
OC	A	0.02%	0.07%	0.02%
ODP	F	0.02%	0.18%	0.02%
OGN	F	0.04%	0.15%	0.04%
OI	C	0.03%	0.27%	0.03%
OLN	F	0.04%	0.14%	0.04%
OMF	A	0.03%	0.07%	0.03%
OMI	F	0.01%	0.16%	0.01%
ONB	C	0.01%	0.21%	0.01%
PBF	D	0.02%	0.18%	0.02%
PFE	F	0.57%	0.36%	0.36%
PFG	D	0.01%	0.06%	0.01%
PFSI	C	0.02%	0.05%	0.02%
PHIN	A	0.02%	0.1%	0.02%
PHM	D	0.1%	0.11%	0.1%
PINC	B	0.03%	0.02%	0.02%
PM	B	0.87%	0.13%	0.13%
PNC	B	0.12%	0.33%	0.12%
PPC	C	0.01%	0.04%	0.01%
PRU	A	0.23%	0.28%	0.23%
PSX	C	0.23%	0.71%	0.23%
PTEN	C	0.01%	0.21%	0.01%
PVH	C	0.02%	0.21%	0.02%
PYPL	B	0.12%	0.24%	0.12%
QCOM	F	0.77%	0.07%	0.07%
QRVO	F	0.01%	0.12%	0.01%
R	B	0.07%	0.41%	0.07%
RDN	D	0.01%	0.28%	0.01%
REZI	A	0.02%	0.14%	0.02%
RF	A	0.02%	0.1%	0.02%
RGA	A	0.06%	0.04%	0.04%
RPRX	D	0.03%	0.41%	0.03%
RRC	B	0.03%	0.1%	0.03%
RS	B	0.04%	0.02%	0.02%
RTX	D	0.22%	0.14%	0.14%
RUSHA	C	0.04%	0.06%	0.04%
SAIC	F	0.01%	0.1%	0.01%
SANM	B	0.04%	0.07%	0.04%
SATS	D	0.01%	0.09%	0.01%
SBH	C	0.02%	0.16%	0.02%
SCHW	B	0.05%	0.1%	0.05%
SEB	F	0.01%	0.16%	0.01%
SF	B	0.02%	0.14%	0.02%
SJM	D	0.04%	0.15%	0.04%
SKYW	C	0.07%	0.11%	0.07%
SLB	C	0.01%	0.69%	0.01%
SLM	A	0.06%	0.03%	0.03%
SLVM	B	0.04%	0.16%	0.04%
SM	B	0.03%	0.22%	0.03%
SNDR	B	0.02%	0.15%	0.02%
SNV	C	0.02%	0.2%	0.02%
SON	F	0.04%	0.21%	0.04%
SSB	B	0.01%	0.08%	0.01%
SSNC	B	0.02%	0.08%	0.02%
STC	B	0.02%	0.1%	0.02%
STLD	B	0.04%	0.13%	0.04%
SYF	B	0.31%	0.33%	0.31%
T	A	0.73%	1.01%	0.73%
TAP	C	0.09%	0.16%	0.09%
TDS	B	0.05%	0.12%	0.05%
TEX	F	0.05%	0.21%	0.05%
TFC	A	0.09%	0.73%	0.09%
TGNA	B	0.05%	0.2%	0.05%
TGT	F	0.74%	0.27%	0.27%
THG	A	0.05%	0.04%	0.04%
TKR	D	0.04%	0.09%	0.04%
TMHC	C	0.09%	0.06%	0.06%
TMUS	B	0.43%	0.3%	0.3%
TOL	B	0.06%	0.16%	0.06%
TPH	D	0.06%	0.21%	0.06%
TPR	B	0.01%	0.04%	0.01%
TRV	B	0.2%	0.48%	0.2%
TSN	B	0.18%	0.07%	0.07%
TTMI	C	0.02%	0.25%	0.02%
UAL	A	0.02%	0.29%	0.02%
UFPI	C	0.07%	0.11%	0.07%
UHAL	D	0.01%	0.22%	0.01%
UHAL	D	0.01%	0.22%	0.01%
UHS	D	0.06%	0.16%	0.06%
UNM	A	0.04%	0.6%	0.04%
URBN	C	0.05%	0.07%	0.05%
USB	A	0.11%	0.71%	0.11%
UTHR	C	0.19%	0.15%	0.15%
VLO	C	0.16%	0.66%	0.16%
VSCO	C	0.02%	0.06%	0.02%
VSH	F	0.02%	0.07%	0.02%
VTRS	A	0.14%	0.25%	0.14%
VZ	C	1.0%	0.8%	0.8%
WAFD	B	0.01%	0.21%	0.01%
WAL	B	0.02%	0.18%	0.02%
WBS	A	0.02%	0.22%	0.02%
WCC	B	0.09%	0.2%	0.09%
WERN	C	0.04%	0.03%	0.03%
WFC	A	0.97%	0.59%	0.59%
WHR	B	0.03%	0.21%	0.03%
WKC	C	0.02%	0.16%	0.02%
WMB	A	0.1%	0.35%	0.1%
WMK	C	0.01%	0.03%	0.01%
XOM	B	0.43%	0.86%	0.43%
XRAY	F	0.02%	0.06%	0.02%
XRX	F	0.01%	0.05%	0.01%
ZION	B	0.02%	0.16%	0.02%

MFUS Overweight 538 Positions Relative to VFVA

Symbol	Grade	Weight
BRK.A	B	2.42%
LLY	F	2.39%
META	D	2.35%
NVDA	B	1.9%
WMT	A	1.71%
AMZN	C	1.71%
AVGO	D	1.59%
ORCL	A	1.52%
ABBV	F	1.36%
COST	A	1.35%
PG	C	1.01%
KO	D	1.0%
AAPL	C	0.96%
AMGN	F	0.94%
MRK	D	0.84%
UNH	B	0.79%
LMT	D	0.75%
PEP	F	0.74%
HD	B	0.62%
PGR	A	0.59%
GE	D	0.56%
AMAT	F	0.55%
MCD	D	0.53%
NFLX	A	0.52%
UNP	C	0.51%
BKNG	A	0.42%
TJX	A	0.37%
NOW	A	0.36%
REGN	F	0.36%
CL	D	0.35%
LOW	C	0.35%
NOC	D	0.35%
V	A	0.31%
CHTR	C	0.3%
ISRG	A	0.29%
ICE	C	0.29%
TXN	C	0.29%
SPGI	C	0.29%
THC	D	0.28%
WM	B	0.28%
MA	B	0.28%
TMO	F	0.28%
LHX	C	0.26%
FICO	B	0.25%
ACN	B	0.25%
PANW	B	0.25%
SFM	A	0.25%
ANF	F	0.25%
DHR	F	0.24%
UPS	C	0.24%
AON	A	0.24%
KLAC	F	0.23%
AXP	A	0.23%
MDLZ	F	0.23%
PLTR	B	0.23%
VST	A	0.23%
SHW	B	0.22%
NEE	C	0.22%
VRTX	D	0.22%
UBER	F	0.21%
BBY	D	0.21%
LII	A	0.21%
GWW	B	0.21%
MSI	B	0.2%
MMC	B	0.2%
GLW	B	0.2%
BSX	A	0.2%
ORLY	B	0.2%
CAT	B	0.2%
CMG	B	0.2%
BLK	B	0.19%
CTAS	B	0.19%
AMP	A	0.18%
WSM	C	0.18%
EA	A	0.18%
DECK	A	0.17%
HWM	A	0.17%
COR	B	0.17%
BR	A	0.17%
LRCX	F	0.17%
WSO	A	0.17%
GIS	D	0.17%
AJG	A	0.16%
RMD	C	0.16%
DVA	C	0.16%
MUSA	B	0.16%
KMB	C	0.16%
SPG	A	0.16%
CASY	A	0.16%
VRSK	A	0.16%
TDG	D	0.15%
MCO	B	0.15%
BAH	F	0.15%
IT	C	0.15%
K	A	0.15%
KKR	A	0.15%
CME	B	0.14%
CHRW	B	0.14%
CMI	A	0.14%
PH	A	0.14%
BX	A	0.13%
SO	C	0.13%
DPZ	C	0.13%
EVR	B	0.13%
FAST	B	0.13%
DUK	C	0.13%
JNPR	D	0.13%
RSG	A	0.13%
RPM	A	0.13%
AMT	C	0.13%
YUM	D	0.13%
IRM	C	0.12%
WELL	A	0.12%
WBA	F	0.12%
BRO	B	0.12%
GDDY	A	0.12%
PWR	A	0.12%
SYY	D	0.12%
APH	A	0.12%
CLX	A	0.12%
CW	C	0.11%
GEN	B	0.11%
CEG	C	0.11%
TRGP	A	0.11%
EXPD	C	0.11%
CRS	B	0.11%
WTW	B	0.11%
DASH	B	0.11%
EFX	F	0.11%
EXR	C	0.11%
BWXT	B	0.11%
CSX	C	0.11%
TSCO	D	0.11%
APP	B	0.11%
LDOS	C	0.11%
ADP	A	0.11%
FOXA	A	0.11%
OKE	A	0.1%
COIN	C	0.1%
NTAP	C	0.1%
HLT	A	0.1%
AYI	B	0.1%
PKG	A	0.1%
DD	C	0.1%
ITW	B	0.1%
JKHY	D	0.1%
RCL	A	0.1%
DFS	B	0.1%
XYL	D	0.1%
SEIC	B	0.09%
AIZ	A	0.09%
CPRT	B	0.09%
IEX	C	0.09%
ARES	A	0.09%
CALM	A	0.09%
LSTR	D	0.09%
IR	B	0.09%
DLR	B	0.09%
TROW	B	0.09%
ADSK	A	0.09%
EHC	B	0.09%
CACI	D	0.09%
NVR	D	0.09%
URI	C	0.09%
AVY	F	0.09%
PSA	C	0.09%
SBUX	A	0.09%
BKR	A	0.08%
AEP	C	0.08%
LPX	B	0.08%
WDC	D	0.08%
DKS	D	0.08%
AOS	F	0.08%
SLG	B	0.08%
ECL	D	0.08%
SRE	A	0.08%
ATR	B	0.08%
TYL	B	0.08%
MTD	F	0.08%
HLI	A	0.08%
ITT	A	0.08%
BIIB	F	0.07%
ROL	B	0.07%
GLPI	C	0.07%
MSCI	C	0.07%
EXC	C	0.07%
SCI	B	0.07%
LPLA	A	0.07%
JCI	B	0.07%
EXP	B	0.07%
CHD	A	0.07%
CCI	C	0.07%
POOL	C	0.07%
NSC	B	0.07%
D	C	0.07%
MLM	C	0.07%
GEHC	D	0.07%
CNX	A	0.07%
VNO	C	0.07%
THO	B	0.07%
NRG	B	0.07%
FTNT	C	0.07%
BALL	F	0.07%
KDP	F	0.07%
STE	D	0.07%
OTIS	C	0.07%
TTWO	A	0.07%
MNST	C	0.07%
STZ	D	0.06%
G	B	0.06%
VIRT	A	0.06%
TW	A	0.06%
SEE	C	0.06%
LECO	C	0.06%
NKE	F	0.06%
GNRC	C	0.06%
CPT	B	0.06%
KTB	B	0.06%
CHE	D	0.06%
MPWR	F	0.06%
CCK	D	0.06%
PEG	A	0.06%
FIX	A	0.06%
IBKR	A	0.06%
LUMN	C	0.06%
MAS	D	0.06%
WU	F	0.06%
SQ	A	0.06%
L	A	0.06%
PK	C	0.06%
TXRH	B	0.06%
TTC	C	0.06%
FFIV	B	0.06%
AN	C	0.06%
MSM	C	0.06%
OMC	C	0.06%
ROP	B	0.06%
ALNY	D	0.06%
NFG	A	0.05%
PRIM	A	0.05%
FLEX	B	0.05%
ETR	B	0.05%
NSIT	F	0.05%
LOPE	C	0.05%
MOG.A	B	0.05%
SUI	C	0.05%
A	D	0.05%
WST	C	0.05%
GNTX	C	0.05%
NDAQ	A	0.05%
MTN	C	0.05%
CBRE	B	0.05%
EXEL	B	0.05%
CARR	C	0.05%
CRI	F	0.05%
USFD	A	0.05%
SLGN	A	0.05%
EIX	B	0.05%
POST	C	0.05%
ZTS	D	0.05%
LAMR	C	0.05%
KD	B	0.05%
IDXX	F	0.05%
CBT	D	0.05%
GVA	A	0.05%
ANSS	B	0.05%
WEN	D	0.05%
FCN	F	0.05%
WAB	B	0.05%
MMS	F	0.05%
HSY	F	0.05%
WAT	C	0.05%
SMCI	F	0.05%
ED	C	0.05%
O	C	0.05%
MKC	C	0.05%
OSK	C	0.04%
XPO	B	0.04%
LANC	C	0.04%
EQR	C	0.04%
PPL	A	0.04%
AWI	A	0.04%
SEM	B	0.04%
AMH	C	0.04%
CRUS	D	0.04%
ESS	B	0.04%
INVH	D	0.04%
SMG	C	0.04%
JWN	D	0.04%
CTVA	C	0.04%
PSTG	D	0.04%
AGNC	C	0.04%
BDC	C	0.04%
CLH	C	0.04%
FLO	D	0.04%
ADBE	C	0.04%
WH	B	0.04%
ELS	C	0.04%
ULTA	F	0.04%
PAYX	B	0.04%
CPNG	D	0.04%
TRN	B	0.04%
VTR	B	0.04%
RGLD	C	0.04%
CVLT	B	0.04%
FDS	B	0.04%
NBIX	C	0.04%
VRSN	C	0.04%
BAX	F	0.04%
CUBE	C	0.04%
WTM	A	0.04%
PTC	B	0.04%
ATI	C	0.04%
IPG	D	0.04%
MAC	B	0.04%
CPB	D	0.04%
HEI	A	0.04%
FTI	A	0.04%
VLTO	C	0.04%
SIG	B	0.04%
ZBRA	B	0.04%
FITB	B	0.04%
EME	A	0.04%
HOOD	B	0.04%
PPG	F	0.04%
AROC	A	0.04%
ABM	B	0.04%
NDSN	B	0.04%
ERIE	D	0.04%
DCI	B	0.04%
DOV	A	0.04%
MAR	A	0.04%
COKE	C	0.03%
HXL	F	0.03%
SBAC	D	0.03%
GMED	A	0.03%
DRH	B	0.03%
PNM	B	0.03%
ACA	A	0.03%
KMPR	A	0.03%
WPC	C	0.03%
HAE	C	0.03%
UNF	B	0.03%
APAM	B	0.03%
VC	F	0.03%
DK	C	0.03%
COLD	D	0.03%
LBRDK	C	0.03%
DRI	B	0.03%
BKE	B	0.03%
FHI	B	0.03%
MRO	B	0.03%
AVTR	F	0.03%
BURL	B	0.03%
X	B	0.03%
NTRS	A	0.03%
TER	F	0.03%
DELL	B	0.03%
UDR	B	0.03%
PLXS	B	0.03%
CDW	F	0.03%
PRG	C	0.03%
APLE	B	0.03%
IFF	D	0.03%
SHOO	F	0.03%
AVB	B	0.03%
AVA	A	0.03%
DBRG	F	0.03%
CMS	C	0.03%
LW	C	0.03%
HSIC	C	0.03%
HOLX	D	0.03%
RL	C	0.03%
FE	C	0.03%
GMS	B	0.03%
CDP	C	0.03%
RLI	A	0.03%
BLD	D	0.03%
DDS	B	0.03%
GGG	B	0.03%
DOX	D	0.03%
HBAN	A	0.03%
HUBB	B	0.03%
CPAY	A	0.03%
MC	C	0.03%
MASI	B	0.03%
ES	C	0.03%
TPX	B	0.03%
NYT	D	0.03%
BJ	A	0.03%
ACM	B	0.03%
MORN	B	0.03%
MANH	D	0.03%
IOSP	C	0.02%
LXP	D	0.02%
SAH	C	0.02%
KEX	B	0.02%
EVRG	A	0.02%
LAUR	A	0.02%
KIM	A	0.02%
AA	A	0.02%
BRKR	D	0.02%
GME	C	0.02%
ATO	A	0.02%
CSL	C	0.02%
AXTA	B	0.02%
BXP	C	0.02%
APG	B	0.02%
NSP	F	0.02%
HP	C	0.02%
VFC	C	0.02%
ODFL	C	0.02%
HST	C	0.02%
DTE	C	0.02%
LAD	A	0.02%
PMT	C	0.02%
HNI	B	0.02%
HRL	D	0.02%
OSIS	A	0.02%
WMS	F	0.02%
LNW	F	0.02%
PNR	A	0.02%
MAA	B	0.02%
LNT	A	0.02%
KBR	F	0.02%
JBLU	F	0.02%
VVV	D	0.02%
THS	D	0.02%
RHI	C	0.02%
SKX	D	0.02%
DLB	B	0.02%
OHI	C	0.02%
SXT	C	0.02%
RLJ	C	0.02%
YELP	C	0.02%
DORM	B	0.02%
APOG	C	0.02%
GWRE	A	0.02%
SAM	C	0.02%
CTLT	C	0.02%
PSN	D	0.02%
NI	A	0.02%
XHR	B	0.02%
PDCO	F	0.02%
MKTX	D	0.02%
CINF	A	0.02%
MCY	A	0.02%
AIR	B	0.02%
PAG	B	0.02%
BFAM	D	0.02%
VSTO	A	0.02%
KSS	F	0.02%
RYN	D	0.02%
AKAM	D	0.02%
JBHT	C	0.02%
ORA	B	0.02%
TFX	F	0.02%
MSA	F	0.02%
WRB	A	0.02%
NEU	D	0.02%
SVC	F	0.01%
AAP	D	0.01%
CPRI	F	0.01%
RKT	F	0.01%
SCL	C	0.01%
CACC	D	0.01%
PARA	C	0.01%
RVTY	F	0.01%
ARI	C	0.01%
WOR	F	0.01%
CNXN	C	0.01%
SPR	D	0.01%
ACI	C	0.01%
UGI	C	0.01%
ECPG	C	0.01%
ALEX	B	0.01%
UVV	B	0.01%
JBGS	F	0.01%
HTH	C	0.01%
MKSI	C	0.01%
SR	A	0.01%
ARMK	B	0.01%
OUT	A	0.01%
PNW	A	0.01%
SHO	D	0.01%
WGO	C	0.01%
AMED	F	0.01%
CNS	B	0.01%
SWX	B	0.01%
CENTA	C	0.01%
CVI	F	0.01%
ARCH	B	0.01%
PECO	A	0.01%
PB	B	0.01%
CNM	D	0.01%
SIGI	C	0.01%
BRC	D	0.01%
DY	D	0.01%
SPB	C	0.01%
NNN	C	0.01%
AES	F	0.01%
CFR	B	0.01%
FELE	B	0.01%
FLR	B	0.01%
KN	B	0.01%
STRA	C	0.01%
IDCC	B	0.01%
LADR	B	0.01%
INCY	C	0.01%
GES	F	0.01%
ESAB	C	0.01%
CWEN	C	0.01%
CBSH	B	0.01%
WWD	C	0.01%
TTEK	F	0.01%
CR	A	0.01%
ICUI	D	0.01%
CSGS	B	0.01%
BMRN	F	0.01%
TNET	F	0.01%
FYBR	C	0.01%
HE	C	0.01%
WTFC	A	0.01%
PSMT	D	0.01%
ALGN	D	0.01%
ADC	A	0.01%
H	B	0.01%
RBC	A	0.01%
GOLF	B	0.01%
FR	D	0.01%
DEI	B	0.01%
SCS	C	0.01%
VNT	C	0.01%
TDC	D	0.01%
SCCO	F	0.0%
NOMD	D	0.0%
WOLF	F	0.0%
HUN	F	0.0%

MFUS Underweight 336 Positions Relative to VFVA

Symbol	Grade	Weight
FDX	B	-0.89%
EOG	A	-0.75%
OXY	D	-0.5%
FCX	F	-0.43%
MDT	D	-0.42%
PCAR	B	-0.42%
AL	B	-0.41%
DIS	B	-0.4%
COLB	B	-0.34%
CIVI	D	-0.33%
FOX	A	-0.33%
GTES	A	-0.3%
PRDO	B	-0.28%
BG	D	-0.27%
STBA	B	-0.26%
ATKR	D	-0.26%
AXS	A	-0.26%
OVV	B	-0.26%
PRGO	C	-0.24%
SNX	D	-0.24%
INSW	F	-0.24%
ALK	B	-0.23%
HRI	C	-0.22%
APA	D	-0.22%
TNL	A	-0.21%
AMR	C	-0.2%
DBX	B	-0.2%
ZI	D	-0.2%
ACGL	C	-0.2%
TROX	D	-0.2%
GPOR	B	-0.2%
RNR	C	-0.2%
DAL	B	-0.2%
SIRI	C	-0.2%
FFBC	B	-0.2%
KOS	D	-0.19%
PUMP	C	-0.19%
PCRX	C	-0.19%
BMBL	C	-0.19%
LILAK	D	-0.19%
CTRA	B	-0.19%
FNB	A	-0.19%
HWC	B	-0.19%
STNG	F	-0.19%
MTDR	B	-0.18%
CHRD	D	-0.18%
TNK	F	-0.18%
HAIN	D	-0.18%
CCS	D	-0.18%
AHCO	F	-0.18%
HELE	C	-0.18%
CF	A	-0.18%
BYD	B	-0.18%
CCSI	C	-0.18%
PR	B	-0.17%
DAR	C	-0.17%
ATSG	B	-0.17%
EFSC	B	-0.17%
MD	C	-0.17%
JAZZ	B	-0.17%
EG	C	-0.17%
GTN	F	-0.17%
RNG	C	-0.17%
ZD	B	-0.17%
EQT	B	-0.17%
LKQ	F	-0.16%
PARR	F	-0.16%
AXL	C	-0.16%
ASIX	B	-0.16%
GNK	D	-0.16%
COMM	D	-0.16%
OCFC	B	-0.16%
KOP	C	-0.16%
ABCB	B	-0.16%
BXC	B	-0.16%
CNH	C	-0.16%
CRGY	B	-0.16%
NMRK	C	-0.16%
CRC	A	-0.15%
DIN	C	-0.15%
DE	B	-0.15%
GLNG	C	-0.15%
MBUU	B	-0.15%
WWW	A	-0.15%
NUS	D	-0.15%
ST	F	-0.15%
MCB	B	-0.15%
TWI	F	-0.15%
SPTN	D	-0.15%
CEIX	A	-0.14%
IRWD	F	-0.14%
TPC	C	-0.14%
ECVT	C	-0.14%
SNCY	C	-0.14%
RMAX	C	-0.14%
PLTK	B	-0.14%
ASC	F	-0.14%
BRY	F	-0.14%
ALIT	C	-0.14%
DLX	B	-0.14%
APTV	F	-0.14%
TDOC	C	-0.13%
LPG	F	-0.13%
BGS	F	-0.13%
ASB	B	-0.13%
BELFB	C	-0.13%
VBTX	B	-0.13%
ORI	A	-0.13%
GOGL	F	-0.13%
UNFI	A	-0.12%
GDOT	D	-0.12%
NAT	F	-0.12%
ENS	F	-0.12%
RRX	B	-0.12%
HLX	B	-0.12%
DCOM	B	-0.12%
OZK	B	-0.12%
FCF	B	-0.12%
RPAY	D	-0.12%
CMRE	C	-0.12%
PLAB	C	-0.12%
DOLE	D	-0.12%
RYI	C	-0.12%
DHT	F	-0.12%
BANC	B	-0.12%
APPS	F	-0.12%
SXC	A	-0.12%
STNE	F	-0.11%
BUSE	B	-0.11%
CLW	F	-0.11%
EYE	C	-0.11%
SASR	B	-0.11%
PEBO	B	-0.11%
MTCH	D	-0.11%
PPBI	C	-0.11%
MATV	D	-0.11%
MTUS	C	-0.11%
PNFP	B	-0.11%
IART	C	-0.11%
FIVE	F	-0.11%
SCSC	C	-0.11%
OMCL	C	-0.11%
JRVR	F	-0.11%
HOPE	C	-0.1%
BV	C	-0.1%
TK	D	-0.1%
GPN	B	-0.1%
CSTM	F	-0.1%
FULT	A	-0.1%
LULU	C	-0.1%
SD	D	-0.1%
RNST	B	-0.1%
CUBI	B	-0.1%
EGBN	B	-0.1%
EGY	D	-0.1%
CHGG	C	-0.1%
NX	C	-0.09%
MAT	D	-0.09%
SMP	C	-0.09%
VLY	B	-0.09%
GPRE	F	-0.09%
TXT	D	-0.09%
BANR	B	-0.09%
GCO	C	-0.09%
PATK	C	-0.09%
FOXF	F	-0.09%
AUB	B	-0.09%
DNB	B	-0.09%
VAC	C	-0.09%
UVE	B	-0.09%
VTOL	B	-0.09%
CATY	B	-0.09%
BZH	C	-0.09%
NVST	B	-0.09%
MODG	F	-0.09%
SCHL	F	-0.09%
HVT	D	-0.09%
NTB	B	-0.09%
WSBC	B	-0.08%
HEES	C	-0.08%
BHLB	B	-0.08%
PII	F	-0.08%
SFL	D	-0.08%
RYAM	C	-0.08%
RJF	A	-0.08%
BOOM	F	-0.08%
CWK	C	-0.08%
GL	C	-0.08%
PLAY	D	-0.08%
ACCO	C	-0.08%
BOKF	B	-0.08%
ARCB	C	-0.08%
EAT	A	-0.08%
SRCE	B	-0.08%
NBTB	B	-0.08%
DVN	F	-0.08%
SB	F	-0.08%
PBI	B	-0.07%
WYNN	C	-0.07%
OEC	C	-0.07%
UPBD	B	-0.07%
KFY	B	-0.07%
SNEX	B	-0.07%
HAL	C	-0.07%
PAGS	F	-0.07%
INDB	B	-0.07%
MTW	C	-0.07%
HLF	C	-0.07%
TRST	B	-0.07%
TRMK	C	-0.07%
DXPE	C	-0.07%
AX	B	-0.07%
CCRN	F	-0.07%
HAFC	B	-0.07%
FIBK	B	-0.07%
NIC	B	-0.07%
VREX	B	-0.07%
CNA	C	-0.07%
NOG	B	-0.07%
ZEUS	C	-0.07%
HI	C	-0.07%
EBC	B	-0.07%
REVG	C	-0.07%
EMBC	C	-0.07%
NMIH	C	-0.07%
BBW	C	-0.07%
LBRDA	C	-0.06%
ALGT	B	-0.06%
CNXC	F	-0.06%
LXU	B	-0.06%
PFS	B	-0.06%
GOOG	C	-0.06%
PENN	C	-0.06%
FWRD	D	-0.06%
UIS	B	-0.06%
DENN	D	-0.06%
CAL	F	-0.06%
OIS	B	-0.06%
TCBK	C	-0.06%
BUR	C	-0.06%
SSP	F	-0.06%
KELYA	F	-0.06%
REPX	A	-0.06%
BPOP	C	-0.06%
ENVA	B	-0.05%
PRLB	B	-0.05%
BW	D	-0.05%
GRBK	D	-0.05%
HFWA	C	-0.05%
REX	D	-0.05%
OFG	B	-0.05%
LILA	D	-0.05%
WBD	B	-0.05%
FRME	B	-0.05%
FMC	D	-0.05%
RGP	F	-0.05%
CNOB	B	-0.05%
NWBI	B	-0.05%
TTEC	F	-0.05%
LBRT	D	-0.05%
MATW	C	-0.05%
TOWN	B	-0.05%
TWLO	A	-0.05%
APO	B	-0.05%
ASGN	F	-0.05%
HZO	F	-0.04%
MRC	B	-0.04%
GLDD	B	-0.04%
VRNT	C	-0.04%
WTTR	A	-0.04%
HNRG	B	-0.04%
WNC	C	-0.04%
MKL	A	-0.04%
AMPY	C	-0.04%
XPOF	C	-0.04%
NCLH	B	-0.04%
ETWO	F	-0.04%
FFWM	C	-0.04%
DESP	B	-0.04%
MOV	D	-0.04%
BLMN	F	-0.04%
UA	C	-0.04%
RDUS	B	-0.04%
TALO	C	-0.04%
BY	B	-0.04%
CFFN	C	-0.04%
HOV	D	-0.03%
ACT	C	-0.03%
NBHC	C	-0.03%
SCVL	F	-0.03%
HY	D	-0.03%
MBIN	F	-0.03%
CMCO	C	-0.03%
LC	A	-0.03%
CNDT	C	-0.03%
SWI	C	-0.03%
JILL	C	-0.03%
FF	F	-0.03%
QCRH	B	-0.03%
HRTG	C	-0.03%
AMBC	C	-0.03%
AMAL	B	-0.03%
INMD	C	-0.03%
SHLS	F	-0.03%
USAP	B	-0.03%
OLPX	D	-0.03%
PTVE	B	-0.03%
ZIMV	D	-0.03%
FOR	F	-0.03%
DRVN	B	-0.03%
IIIN	C	-0.03%
TBRG	B	-0.02%
NR	B	-0.02%
CMPR	D	-0.02%
NFBK	C	-0.02%
HGV	C	-0.02%
KODK	B	-0.02%
TITN	C	-0.02%
HDSN	F	-0.02%
UCB	A	-0.02%
ALKS	C	-0.02%
BAND	B	-0.02%
TTI	B	-0.02%
EIG	B	-0.02%
GO	C	-0.02%
VYX	B	-0.02%
AMRX	C	-0.02%
PFBC	B	-0.02%
HOMB	A	-0.02%
BRKL	B	-0.02%
FSLR	F	-0.02%
WRLD	C	-0.02%
MEI	F	-0.02%
PRA	C	-0.02%
STT	B	-0.02%
OBK	C	-0.02%