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

$50.02

Average Daily Volume

7,387

Number of Holdings ^*

780

* 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

$121.04

Average Daily Volume

25,974

Number of Holdings ^*

556

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	VFVA
30 Days	1.34%	1.32%
60 Days	3.43%	0.39%
90 Days	4.18%	6.67%
12 Months	26.76%	20.04%

257 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in VFVA	Overlap
AAP	F	0.01%	0.14%	0.01%
ABG	F	0.07%	0.16%	0.07%
ADM	D	0.32%	0.44%	0.32%
ADNT	F	0.02%	0.16%	0.02%
AFL	B	0.19%	0.1%	0.1%
AGCO	D	0.02%	0.15%	0.02%
AIG	D	0.42%	0.58%	0.42%
ALL	A	0.36%	0.19%	0.19%
ALLY	F	0.1%	0.32%	0.1%
ALSN	B	0.08%	0.14%	0.08%
AMG	C	0.05%	0.2%	0.05%
AMKR	F	0.03%	0.13%	0.03%
AMWD	C	0.01%	0.05%	0.01%
ANDE	D	0.02%	0.11%	0.02%
AR	D	0.04%	0.05%	0.04%
ARCB	D	0.01%	0.04%	0.01%
ARCH	F	0.01%	0.13%	0.01%
ARW	C	0.07%	0.18%	0.07%
ASO	C	0.03%	0.15%	0.03%
ATGE	D	0.05%	0.14%	0.05%
AVT	D	0.04%	0.19%	0.04%
AZO	D	0.3%	0.28%	0.28%
BAC	D	0.39%	0.88%	0.39%
BBWI	F	0.02%	0.2%	0.02%
BC	C	0.06%	0.07%	0.06%
BCC	C	0.06%	0.02%	0.02%
BDX	F	0.09%	0.15%	0.09%
BEN	F	0.04%	0.06%	0.04%
BERY	B	0.06%	0.37%	0.06%
BHF	D	0.03%	0.24%	0.03%
BK	A	0.27%	0.47%	0.27%
BKU	C	0.03%	0.16%	0.03%
BLDR	C	0.04%	0.06%	0.04%
BMY	C	0.28%	0.76%	0.28%
BTU	D	0.04%	0.14%	0.04%
BWA	D	0.05%	0.19%	0.05%
C	D	1.22%	0.84%	0.84%
CADE	B	0.01%	0.16%	0.01%
CAG	B	0.05%	0.28%	0.05%
CAH	C	0.35%	0.34%	0.34%
CB	B	0.16%	0.49%	0.16%
CC	F	0.02%	0.03%	0.02%
CE	D	0.07%	0.33%	0.07%
CFG	D	0.06%	0.18%	0.06%
CG	C	0.02%	0.04%	0.02%
CHRD	F	0.02%	0.26%	0.02%
CI	C	0.14%	0.67%	0.14%
CMA	B	0.04%	0.14%	0.04%
CMC	D	0.07%	0.15%	0.07%
CMCSA	D	0.24%	0.98%	0.24%
CNO	B	0.04%	0.04%	0.04%
COF	C	0.42%	0.69%	0.42%
COHR	B	0.02%	0.11%	0.02%
COOP	B	0.04%	0.13%	0.04%
COP	D	0.3%	0.54%	0.3%
CRBG	D	0.04%	0.02%	0.02%
CSCO	B	0.42%	0.14%	0.14%
CTRA	F	0.02%	0.24%	0.02%
CVS	D	0.8%	1.02%	0.8%
CVX	D	0.79%	0.77%	0.77%
CXW	F	0.02%	0.08%	0.02%
DAN	F	0.01%	0.16%	0.01%
DGX	B	0.06%	0.04%	0.04%
DINO	D	0.03%	0.21%	0.03%
DK	F	0.03%	0.05%	0.03%
DOW	D	0.04%	0.2%	0.04%
DTM	B	0.01%	0.17%	0.01%
DXC	C	0.02%	0.23%	0.02%
EBAY	B	0.34%	0.04%	0.04%
ELAN	D	0.01%	0.15%	0.01%
ELV	C	0.08%	0.08%	0.08%
EMN	B	0.06%	0.09%	0.06%
EOG	D	0.11%	0.65%	0.11%
EPC	F	0.02%	0.03%	0.02%
EQH	C	0.07%	0.08%	0.07%
ESI	D	0.01%	0.03%	0.01%
ESNT	B	0.01%	0.44%	0.01%
EWBC	C	0.02%	0.08%	0.02%
F	D	0.33%	0.99%	0.33%
FAF	B	0.02%	0.07%	0.02%
FANG	D	0.04%	0.39%	0.04%
FCNCA	D	0.05%	0.13%	0.05%
FCX	D	0.09%	0.44%	0.09%
FHN	D	0.01%	0.18%	0.01%
FIS	B	0.08%	0.25%	0.08%
FNF	A	0.03%	0.13%	0.03%
GATX	D	0.04%	0.05%	0.04%
GBX	C	0.03%	0.02%	0.02%
GD	B	0.17%	0.28%	0.17%
GEF	D	0.02%	0.05%	0.02%
GHC	C	0.02%	0.05%	0.02%
GILD	B	0.78%	0.58%	0.58%
GIS	B	0.11%	0.19%	0.11%
GM	B	0.56%	1.11%	0.56%
GNW	B	0.04%	0.12%	0.04%
GPI	B	0.09%	0.17%	0.09%
GPK	B	0.1%	0.06%	0.06%
GS	D	0.45%	0.46%	0.45%
GT	F	0.03%	0.2%	0.03%
HBAN	B	0.03%	0.07%	0.03%
HBI	B	0.03%	0.1%	0.03%
HCA	B	0.13%	0.69%	0.13%
HCC	F	0.06%	0.08%	0.06%
HIG	A	0.06%	0.07%	0.06%
HII	C	0.02%	0.11%	0.02%
HOG	C	0.02%	0.17%	0.02%
HPE	D	0.2%	0.27%	0.2%
HPQ	D	0.27%	0.5%	0.27%
HRB	C	0.09%	0.17%	0.09%
HUBG	C	0.04%	0.04%	0.04%
IBM	B	1.32%	0.16%	0.16%
INGR	A	0.06%	0.16%	0.06%
INTC	F	0.36%	0.25%	0.25%
IP	B	0.12%	0.02%	0.02%
IVZ	C	0.05%	0.18%	0.05%
JAZZ	D	0.01%	0.16%	0.01%
JEF	B	0.03%	0.23%	0.03%
JELD	D	0.01%	0.08%	0.01%
JHG	B	0.03%	0.07%	0.03%
JLL	B	0.05%	0.14%	0.05%
JNJ	B	1.03%	0.19%	0.19%
JPM	D	0.9%	0.64%	0.64%
JXN	B	0.09%	0.09%	0.09%
KBH	B	0.04%	0.23%	0.04%
KEY	B	0.02%	0.18%	0.02%
KHC	C	0.16%	0.21%	0.16%
KMI	A	0.08%	0.11%	0.08%
KNX	C	0.01%	0.2%	0.01%
KR	B	0.34%	0.22%	0.22%
LEA	D	0.03%	0.16%	0.03%
LEG	D	0.02%	0.21%	0.02%
LEN	B	0.08%	0.26%	0.08%
LEN	B	0.08%	0.21%	0.08%
LNC	D	0.05%	0.35%	0.05%
LYB	F	0.21%	0.33%	0.21%
LZB	C	0.02%	0.16%	0.02%
M	F	0.04%	0.19%	0.04%
MAN	C	0.04%	0.13%	0.04%
MATX	C	0.02%	0.33%	0.02%
MCK	F	0.51%	0.48%	0.48%
MDU	B	0.03%	0.18%	0.03%
MET	A	0.36%	0.49%	0.36%
MHK	B	0.01%	0.4%	0.01%
MHO	B	0.05%	0.15%	0.05%
MKL	C	0.03%	0.04%	0.03%
MLI	B	0.06%	0.19%	0.06%
MLKN	D	0.01%	0.09%	0.01%
MMM	B	0.41%	0.06%	0.06%
MO	C	0.52%	1.17%	0.52%
MOS	F	0.04%	0.19%	0.04%
MPC	D	0.64%	0.7%	0.64%
MTB	B	0.03%	0.18%	0.03%
MTDR	D	0.01%	0.17%	0.01%
MTG	B	0.04%	0.3%	0.04%
MTH	B	0.08%	0.21%	0.08%
MUR	D	0.05%	0.21%	0.05%
NAVI	C	0.03%	0.14%	0.03%
NNI	B	0.01%	0.09%	0.01%
NTCT	D	0.02%	0.07%	0.02%
NUE	F	0.08%	0.63%	0.08%
NWL	D	0.02%	0.21%	0.02%
NWSA	D	0.06%	0.18%	0.06%
NXST	D	0.05%	0.06%	0.05%
OC	C	0.07%	0.08%	0.07%
ODP	F	0.02%	0.1%	0.02%
OGN	D	0.08%	0.23%	0.08%
OI	D	0.03%	0.23%	0.03%
OLN	D	0.04%	0.15%	0.04%
OMF	C	0.03%	0.14%	0.03%
OMI	D	0.01%	0.11%	0.01%
ONB	C	0.01%	0.27%	0.01%
PBF	F	0.06%	0.36%	0.06%
PCAR	D	0.08%	0.08%	0.08%
PFE	C	0.53%	0.65%	0.53%
PFG	B	0.01%	0.06%	0.01%
PFSI	B	0.02%	0.05%	0.02%
PHIN	B	0.01%	0.1%	0.01%
PHM	B	0.17%	0.33%	0.17%
PINC	C	0.02%	0.15%	0.02%
PM	C	0.56%	0.13%	0.13%
PNC	B	0.1%	0.31%	0.1%
PR	D	0.04%	0.14%	0.04%
PRU	C	0.25%	0.45%	0.25%
PSX	D	0.54%	0.86%	0.54%
PTEN	F	0.01%	0.17%	0.01%
PVH	F	0.04%	0.17%	0.04%
QCOM	D	0.62%	0.07%	0.07%
QRVO	F	0.01%	0.15%	0.01%
R	B	0.06%	0.41%	0.06%
REZI	D	0.02%	0.16%	0.02%
RGA	B	0.05%	0.05%	0.05%
RJF	C	0.01%	0.09%	0.01%
RPRX	C	0.03%	0.19%	0.03%
RRC	D	0.04%	0.06%	0.04%
RS	D	0.08%	0.02%	0.02%
RUSHA	C	0.03%	0.06%	0.03%
SAIC	C	0.01%	0.1%	0.01%
SANM	D	0.05%	0.08%	0.05%
SBH	B	0.03%	0.14%	0.03%
SCHL	D	0.01%	0.09%	0.01%
SCHW	D	0.16%	0.12%	0.12%
SEB	C	0.04%	0.17%	0.04%
SF	A	0.01%	0.14%	0.01%
SIG	C	0.04%	0.18%	0.04%
SKYW	C	0.05%	0.18%	0.05%
SLB	F	0.09%	0.28%	0.09%
SLM	C	0.06%	0.04%	0.04%
SLVM	B	0.03%	0.17%	0.03%
SM	D	0.03%	0.27%	0.03%
SNDR	B	0.02%	0.16%	0.02%
SNV	C	0.01%	0.24%	0.01%
SON	C	0.04%	0.15%	0.04%
STC	B	0.02%	0.12%	0.02%
STLD	D	0.04%	0.16%	0.04%
SYF	C	0.29%	0.4%	0.29%
T	B	1.23%	1.09%	1.09%
TAP	C	0.08%	0.3%	0.08%
TDS	C	0.03%	0.18%	0.03%
TEX	D	0.06%	0.13%	0.06%
TFC	D	0.09%	0.83%	0.09%
TGNA	C	0.04%	0.2%	0.04%
TGT	C	0.68%	0.12%	0.12%
THG	A	0.04%	0.04%	0.04%
TKR	D	0.05%	0.1%	0.05%
TMHC	B	0.08%	0.3%	0.08%
TMUS	C	0.31%	0.29%	0.29%
TOL	B	0.1%	0.16%	0.1%
TPH	C	0.05%	0.23%	0.05%
TPR	C	0.01%	0.04%	0.01%
TRV	B	0.32%	0.47%	0.32%
TTMI	D	0.01%	0.31%	0.01%
TXT	D	0.03%	0.1%	0.03%
UAL	B	0.01%	0.29%	0.01%
UFPI	C	0.06%	0.11%	0.06%
UHAL	B	0.01%	0.21%	0.01%
UHAL	B	0.03%	0.21%	0.03%
UHS	B	0.09%	0.18%	0.09%
UNM	B	0.1%	0.39%	0.1%
USB	B	0.11%	0.69%	0.11%
UTHR	C	0.16%	0.23%	0.16%
UVV	D	0.01%	0.04%	0.01%
VLO	D	0.54%	0.86%	0.54%
VSH	D	0.03%	0.09%	0.03%
VTRS	C	0.13%	0.23%	0.13%
VZ	B	1.01%	0.99%	0.99%
WAFD	B	0.01%	0.19%	0.01%
WAL	B	0.01%	0.15%	0.01%
WBS	C	0.01%	0.25%	0.01%
WCC	C	0.08%	0.15%	0.08%
WERN	D	0.02%	0.04%	0.02%
WFC	D	1.4%	0.74%	0.74%
WMB	B	0.08%	0.36%	0.08%
WMK	C	0.01%	0.03%	0.01%
XOM	D	0.99%	0.68%	0.68%
XRAY	D	0.04%	0.06%	0.04%
XRX	F	0.02%	0.13%	0.02%
ZION	D	0.03%	0.16%	0.03%

MFUS Overweight 524 Positions Relative to VFVA

Symbol	Grade	Weight
LLY	C	2.48%
META	A	2.02%
BRK.A	C	2.01%
WMT	B	1.87%
NVDA	D	1.6%
AVGO	C	1.34%
ABBV	C	1.34%
AMZN	C	1.27%
COST	C	1.21%
GOOGL	D	1.17%
ORCL	B	1.13%
GE	B	1.09%
AMGN	B	1.03%
PG	C	0.88%
MRK	D	0.87%
V	B	0.86%
MA	B	0.79%
AAPL	D	0.67%
PEP	C	0.62%
KO	B	0.6%
LMT	C	0.52%
PGR	A	0.5%
UNP	B	0.48%
BKNG	B	0.47%
REGN	C	0.45%
NFLX	B	0.44%
AMAT	D	0.44%
CAT	C	0.41%
MCD	C	0.4%
HD	B	0.39%
NOW	A	0.37%
CRM	D	0.35%
TJX	C	0.34%
CL	C	0.33%
ICE	B	0.29%
DHR	B	0.27%
THC	B	0.27%
LRCX	F	0.27%
VST	C	0.26%
INTU	D	0.26%
ANF	D	0.26%
PANW	D	0.25%
BBY	B	0.24%
CHTR	D	0.24%
LII	B	0.23%
NOC	B	0.23%
LOW	B	0.23%
WM	D	0.23%
BX	B	0.23%
KLAC	D	0.23%
MDLZ	B	0.22%
CMG	C	0.22%
TSN	C	0.22%
FICO	A	0.22%
SHW	B	0.21%
TXN	C	0.21%
UBER	C	0.21%
DD	B	0.21%
VRTX	D	0.21%
WSM	C	0.21%
GLW	B	0.2%
WSO	C	0.2%
CME	C	0.2%
VRSK	D	0.2%
UPS	D	0.19%
BSX	B	0.19%
AXP	B	0.19%
LHX	D	0.19%
MMC	C	0.19%
ACN	C	0.19%
CPRT	D	0.19%
SFM	B	0.19%
AON	B	0.19%
CTAS	C	0.18%
DVA	B	0.18%
DPZ	F	0.18%
ETN	C	0.18%
ORLY	B	0.18%
DECK	C	0.17%
MUSA	C	0.17%
GWW	B	0.17%
IT	B	0.16%
BR	D	0.16%
KMB	D	0.16%
BKR	D	0.16%
SPG	B	0.15%
MU	F	0.15%
EMR	D	0.15%
CASY	D	0.15%
MSI	C	0.15%
CLX	C	0.15%
WDC	D	0.15%
TDG	B	0.15%
BAH	B	0.14%
WBA	F	0.14%
SMCI	F	0.14%
KKR	B	0.13%
RSG	D	0.13%
RMD	C	0.13%
PWR	B	0.13%
JNPR	A	0.13%
BRO	C	0.13%
TRGP	B	0.13%
PH	B	0.13%
DUK	C	0.13%
EXC	B	0.12%
EVR	B	0.12%
WELL	B	0.12%
CARR	B	0.12%
HWM	B	0.12%
STE	C	0.12%
ANET	B	0.12%
AOS	C	0.11%
XYL	D	0.11%
CMI	C	0.11%
RPM	B	0.11%
MAR	C	0.11%
IRM	B	0.11%
K	A	0.1%
AVY	D	0.1%
YUM	D	0.1%
APH	D	0.1%
JKHY	B	0.1%
MRO	D	0.1%
APO	C	0.1%
FTI	D	0.1%
FAST	C	0.1%
CRS	B	0.1%
ERIE	A	0.09%
USFD	B	0.09%
AEO	D	0.09%
ADSK	B	0.09%
ADP	B	0.09%
IR	C	0.09%
EA	D	0.09%
CHRW	B	0.09%
DASH	C	0.09%
CEG	C	0.09%
ARES	B	0.09%
AJG	C	0.09%
URI	B	0.09%
EFX	C	0.09%
DKS	D	0.09%
GDDY	C	0.09%
CACI	B	0.09%
NEM	B	0.09%
TROW	D	0.08%
MTD	D	0.08%
DFS	C	0.08%
LECO	F	0.08%
WU	D	0.08%
HLI	B	0.08%
MKC	B	0.08%
BIIB	F	0.08%
TYL	C	0.08%
AMP	B	0.08%
OKE	B	0.08%
ITT	C	0.08%
ECL	B	0.08%
HLT	B	0.08%
RCL	B	0.08%
EHC	B	0.08%
FOXA	B	0.08%
LUMN	C	0.08%
BWXT	D	0.08%
ITW	B	0.08%
LDOS	C	0.08%
IEX	D	0.08%
AN	D	0.08%
NTAP	D	0.08%
L	B	0.08%
MPWR	C	0.08%
DLR	B	0.08%
CW	B	0.08%
HUBB	B	0.08%
CSX	D	0.08%
LSTR	D	0.08%
PNR	B	0.08%
CHD	C	0.07%
JBL	D	0.07%
POOL	C	0.07%
CALM	B	0.07%
SLG	B	0.07%
TSCO	C	0.07%
CCK	A	0.07%
OTIS	D	0.07%
OSK	D	0.07%
FCN	C	0.07%
SEIC	B	0.07%
NVR	B	0.07%
GAP	F	0.07%
LPLA	D	0.07%
NRG	C	0.07%
ATR	B	0.07%
GLPI	B	0.07%
SYY	D	0.07%
IPG	C	0.07%
EXPD	B	0.07%
TTC	D	0.07%
ROST	C	0.07%
TTWO	D	0.07%
EXR	B	0.07%
AIZ	B	0.07%
AYI	B	0.07%
MSCI	C	0.07%
BALL	C	0.07%
MMS	D	0.06%
TPX	C	0.06%
MNST	C	0.06%
PK	D	0.06%
KD	D	0.06%
VNO	B	0.06%
MSM	D	0.06%
SBUX	C	0.06%
KSS	F	0.06%
FTNT	C	0.06%
IDXX	C	0.06%
CPT	B	0.06%
CHE	C	0.06%
MAS	B	0.06%
MLM	D	0.06%
OMC	A	0.06%
HSY	C	0.06%
NSIT	C	0.06%
X	D	0.06%
INVH	C	0.06%
SCI	B	0.06%
ROP	C	0.06%
SPGI	B	0.06%
SEE	D	0.06%
GNTX	F	0.06%
VMC	D	0.06%
CRI	C	0.06%
COIN	F	0.06%
THO	D	0.06%
CNX	A	0.06%
LPX	B	0.06%
KDP	A	0.06%
CCL	C	0.05%
WAT	C	0.05%
CBT	B	0.05%
CRUS	D	0.05%
ATI	C	0.05%
WEN	C	0.05%
ROL	C	0.05%
PKG	B	0.05%
LAMR	A	0.05%
LOPE	D	0.05%
MTN	D	0.05%
WTW	B	0.05%
VIRT	B	0.05%
TW	A	0.05%
TXRH	D	0.05%
NYT	C	0.05%
PTC	D	0.05%
A	C	0.05%
DELL	D	0.05%
IBKR	B	0.05%
FL	D	0.05%
WPC	B	0.05%
POST	C	0.05%
FIX	B	0.05%
CPAY	B	0.05%
URBN	D	0.05%
G	C	0.05%
FDS	C	0.05%
SUI	B	0.05%
DG	F	0.05%
FITB	B	0.05%
FLEX	C	0.05%
CDW	D	0.05%
PEG	B	0.05%
EXP	B	0.05%
KTB	B	0.05%
ANSS	F	0.05%
APLE	D	0.04%
GEO	F	0.04%
LW	D	0.04%
SAIA	D	0.04%
WTM	F	0.04%
RL	B	0.04%
FHI	A	0.04%
COLD	D	0.04%
VC	F	0.04%
HAL	F	0.04%
BAX	C	0.04%
AMH	C	0.04%
HEI	B	0.04%
RGLD	B	0.04%
GVA	B	0.04%
NBIX	F	0.04%
ENTG	D	0.04%
PINS	F	0.04%
ELS	C	0.04%
VRSN	D	0.04%
ABM	D	0.04%
AGNC	A	0.04%
FFIV	A	0.04%
FLO	C	0.04%
MOG.A	B	0.04%
DCI	D	0.04%
ADBE	D	0.04%
HXL	F	0.04%
GGG	C	0.04%
ZTS	B	0.04%
SRCL	A	0.04%
ACM	B	0.04%
WHR	D	0.04%
BDC	B	0.04%
NDSN	C	0.04%
WST	D	0.04%
NKE	D	0.04%
LANC	D	0.04%
STZ	C	0.04%
GNRC	D	0.04%
WAB	A	0.04%
SMG	C	0.04%
NOV	D	0.04%
PPG	C	0.04%
NFG	B	0.04%
PAG	D	0.04%
CLH	B	0.04%
CUBE	B	0.04%
SLGN	B	0.04%
ULTA	D	0.04%
MAC	B	0.04%
AKAM	D	0.03%
NEU	D	0.03%
SSD	C	0.03%
DRI	C	0.03%
OKTA	F	0.03%
COKE	C	0.03%
HOOD	C	0.03%
VVV	D	0.03%
FR	C	0.03%
PRG	B	0.03%
MC	B	0.03%
RLI	B	0.03%
MOH	C	0.03%
SBAC	C	0.03%
BRKR	D	0.03%
BURL	B	0.03%
SJM	C	0.03%
AWI	B	0.03%
PRIM	C	0.03%
YELP	F	0.03%
UDR	B	0.03%
WH	B	0.03%
HP	D	0.03%
SHOO	B	0.03%
DBRG	D	0.03%
BFAM	C	0.03%
MORN	C	0.03%
EQIX	B	0.03%
BJ	D	0.03%
WTS	C	0.03%
MCO	A	0.03%
DLB	D	0.03%
TFX	C	0.03%
HSIC	C	0.03%
TRN	C	0.03%
AVA	B	0.03%
PDCO	F	0.03%
BLD	D	0.03%
MANH	B	0.03%
EME	B	0.03%
SEM	D	0.03%
ACA	C	0.03%
FND	C	0.03%
DOX	C	0.03%
HOLX	B	0.03%
MSA	C	0.03%
XPO	D	0.03%
CVLT	B	0.03%
APP	B	0.03%
TER	D	0.03%
AES	C	0.03%
APG	D	0.03%
IFF	B	0.03%
PSTG	F	0.03%
GMS	C	0.03%
AROC	C	0.03%
CPNG	B	0.03%
PAYX	C	0.03%
PSA	B	0.03%
DDS	D	0.03%
JWN	B	0.03%
AVTR	B	0.03%
CTVA	B	0.03%
ODFL	C	0.02%
TTEK	C	0.02%
VFC	C	0.02%
PARA	F	0.02%
APOG	B	0.02%
BXP	B	0.02%
HNI	B	0.02%
LXP	B	0.02%
RHI	D	0.02%
DORM	B	0.02%
CHDN	C	0.02%
OSIS	C	0.02%
HST	D	0.02%
SNAP	F	0.02%
GES	F	0.02%
BMRN	F	0.02%
IGT	D	0.02%
SAM	F	0.02%
MCY	C	0.02%
GWRE	A	0.02%
LBRDK	D	0.02%
DOV	B	0.02%
XHR	C	0.02%
GPC	D	0.02%
AIT	C	0.02%
AA	D	0.02%
PMT	B	0.02%
SXT	C	0.02%
KBR	D	0.02%
CINF	B	0.02%
NSP	D	0.02%
VSTO	B	0.02%
PSN	B	0.02%
WMS	D	0.02%
FLS	D	0.02%
RLJ	D	0.02%
MKTX	C	0.02%
HAE	D	0.02%
GMED	D	0.02%
SKX	C	0.02%
AIR	C	0.02%
KMPR	D	0.02%
CTLT	B	0.02%
LNW	B	0.02%
ORA	C	0.02%
JBHT	D	0.02%
PLXS	B	0.02%
APAM	C	0.02%
ALGN	D	0.02%
AXTA	C	0.02%
TDC	F	0.02%
PNM	B	0.02%
EXEL	B	0.02%
DRH	C	0.02%
WRB	C	0.02%
NTRS	B	0.02%
MASI	D	0.02%
VNT	D	0.02%
SHO	D	0.02%
BKE	B	0.02%
NDAQ	B	0.02%
UNF	B	0.02%
RYN	C	0.02%
GEHC	C	0.02%
NVT	D	0.02%
DLTR	F	0.02%
THS	C	0.02%
SCL	D	0.01%
LYFT	D	0.01%
CACC	D	0.01%
KALU	F	0.01%
SCCO	D	0.01%
ACI	F	0.01%
SWN	D	0.01%
ECPG	C	0.01%
MKSI	F	0.01%
WGO	D	0.01%
HELE	D	0.01%
HPP	D	0.01%
HUN	D	0.01%
SWX	C	0.01%
WOR	F	0.01%
BECN	D	0.01%
CNM	F	0.01%
SYNA	F	0.01%
ESAB	C	0.01%
HRL	C	0.01%
SIGI	C	0.01%
INCY	C	0.01%
CENTA	D	0.01%
JBGS	B	0.01%
FLR	D	0.01%
LVS	D	0.01%
AMED	C	0.01%
AFG	B	0.01%
FELE	C	0.01%
SPB	B	0.01%
BRC	B	0.01%
DY	B	0.01%
WTFC	B	0.01%
KN	D	0.01%
PECO	B	0.01%
CR	C	0.01%
CBSH	C	0.01%
CBRL	D	0.01%
CSGS	C	0.01%
STRA	D	0.01%
CPB	B	0.01%
CPRI	D	0.01%
CVI	F	0.01%
DEI	B	0.01%
TREX	F	0.01%
WWD	D	0.01%
LAUR	B	0.01%
SAH	D	0.01%
H	C	0.01%
RBC	C	0.01%
LAD	C	0.01%
IOSP	D	0.01%
LADR	B	0.01%
GOLF	F	0.01%
KEX	C	0.01%
PSMT	B	0.01%
TNET	D	0.01%
CWEN	B	0.01%
BHE	C	0.01%
OLLI	C	0.01%
FYBR	C	0.01%
SCS	B	0.01%
DNOW	D	0.01%
CSL	C	0.01%
SATS	B	0.01%
EVRG	A	0.01%
NOMD	B	0.0%
WOLF	F	0.0%

MFUS Underweight 300 Positions Relative to VFVA

Symbol	Grade	Weight
FDX	C	-1.09%
OXY	F	-0.54%
AL	D	-0.53%
MDT	C	-0.41%
FOX	B	-0.39%
PRDO	D	-0.34%
MS	D	-0.34%
INSW	D	-0.31%
GTES	C	-0.3%
COLB	B	-0.29%
RDN	B	-0.28%
HUM	F	-0.27%
CNXC	D	-0.27%
BG	D	-0.26%
DHI	B	-0.26%
TNK	D	-0.26%
AXS	B	-0.26%
ALGT	F	-0.26%
STNG	D	-0.25%
TROX	F	-0.24%
ESGR	D	-0.24%
STBA	B	-0.23%
TNL	D	-0.23%
WWW	B	-0.22%
LILAK	D	-0.22%
MBUU	D	-0.22%
GPOR	C	-0.22%
ALK	C	-0.21%
DIN	F	-0.21%
FNB	D	-0.21%
DAL	C	-0.21%
OVV	D	-0.2%
EFSC	B	-0.2%
PRGO	D	-0.2%
CCS	B	-0.2%
PYPL	B	-0.2%
ACGL	B	-0.2%
OCFC	B	-0.2%
ASC	D	-0.2%
FFBC	C	-0.2%
CLF	F	-0.2%
CLW	F	-0.2%
HWC	D	-0.2%
CHGG	F	-0.19%
DAR	F	-0.19%
SNX	D	-0.19%
VLY	C	-0.19%
GNK	D	-0.19%
BYD	C	-0.18%
SNCY	D	-0.18%
CCSI	C	-0.18%
ST	D	-0.18%
CIVI	F	-0.18%
EAT	B	-0.18%
JACK	F	-0.18%
CRC	C	-0.17%
CNC	C	-0.17%
GTN	D	-0.17%
HOPE	B	-0.17%
PB	B	-0.17%
BGS	D	-0.17%
AHCO	B	-0.17%
GLNG	D	-0.17%
WSBC	D	-0.16%
ATSG	D	-0.16%
NVST	D	-0.16%
UNFI	C	-0.16%
PARR	F	-0.15%
IMKTA	D	-0.15%
ABCB	B	-0.15%
GIII	C	-0.15%
XPOF	D	-0.15%
FULT	C	-0.15%
PFS	B	-0.15%
HAIN	D	-0.15%
CUBI	F	-0.15%
RNG	D	-0.15%
BZH	B	-0.15%
MD	C	-0.15%
BRY	F	-0.15%
PLTK	C	-0.15%
RNST	D	-0.15%
BXC	D	-0.15%
ZD	D	-0.15%
DLX	D	-0.15%
NMRK	B	-0.14%
PEBO	C	-0.14%
NUS	F	-0.14%
RNR	B	-0.14%
BELFB	C	-0.14%
HLX	D	-0.14%
MCB	C	-0.14%
DHT	C	-0.14%
ASB	D	-0.14%
IRWD	F	-0.14%
PUMP	F	-0.14%
HLF	F	-0.14%
TOWN	B	-0.13%
VBTX	B	-0.13%
TRMK	C	-0.13%
KOP	F	-0.13%
BUSE	C	-0.13%
EGBN	C	-0.13%
OZK	D	-0.13%
RTX	C	-0.13%
AXL	F	-0.13%
ORI	A	-0.13%
JRVR	F	-0.13%
TPC	C	-0.13%
CABO	F	-0.13%
TWI	D	-0.12%
DCOM	B	-0.12%
VGR	C	-0.12%
BANC	B	-0.12%
EBC	B	-0.12%
SPTN	C	-0.12%
AUB	C	-0.12%
PATK	B	-0.12%
CRGY	D	-0.12%
COMM	B	-0.12%
EG	B	-0.12%
HRI	C	-0.11%
UA	C	-0.11%
RRX	C	-0.11%
SB	D	-0.11%
FCF	C	-0.11%
CF	B	-0.11%
NAT	D	-0.11%
PAGS	F	-0.11%
EQT	D	-0.11%
RF	B	-0.11%
APPS	D	-0.11%
EVRI	C	-0.11%
PPBI	D	-0.11%
CEIX	D	-0.11%
AMCX	F	-0.11%
BMBL	F	-0.1%
NX	D	-0.1%
GDOT	C	-0.1%
SXC	F	-0.1%
HOV	C	-0.1%
SSB	B	-0.1%
VTOL	D	-0.1%
TRST	C	-0.1%
GRBK	B	-0.1%
ASIX	C	-0.1%
VAC	F	-0.1%
DOLE	A	-0.1%
NTB	C	-0.1%
PNFP	B	-0.1%
CMRE	D	-0.1%
SFL	D	-0.1%
RYI	F	-0.1%
SCSC	D	-0.09%
UVE	B	-0.09%
TCBK	C	-0.09%
GOGL	D	-0.09%
AX	D	-0.09%
REVG	C	-0.09%
FWRD	C	-0.09%
FDP	B	-0.09%
CATY	B	-0.09%
DBX	D	-0.09%
MTUS	F	-0.09%
BV	B	-0.09%
CNA	C	-0.09%
SASR	B	-0.09%
RPAY	D	-0.08%
UBSI	B	-0.08%
FFWM	D	-0.08%
SD	D	-0.08%
LKQ	D	-0.08%
DE	B	-0.08%
FRME	C	-0.08%
BOKF	B	-0.08%
NBTB	D	-0.08%
HFWA	C	-0.08%
AAL	D	-0.08%
RMAX	C	-0.08%
NWBI	C	-0.08%
BANR	B	-0.08%
SRCE	C	-0.08%
NOG	D	-0.08%
MATV	B	-0.08%
WNC	F	-0.08%
MTW	F	-0.08%
INMD	D	-0.07%
PFC	C	-0.07%
CROX	C	-0.07%
KFY	B	-0.07%
DXPE	C	-0.07%
CWK	B	-0.07%
BPOP	C	-0.07%
RGP	F	-0.07%
BOOM	D	-0.07%
OMCL	C	-0.07%
SNEX	C	-0.07%
GOOG	D	-0.07%
GL	C	-0.07%
NIC	C	-0.07%
LPG	F	-0.07%
HAFC	C	-0.07%
FIBK	B	-0.07%
BHLB	C	-0.07%
SSP	F	-0.07%
SSNC	B	-0.07%
CAL	F	-0.07%
ACCO	C	-0.07%
EMBC	C	-0.07%
NMIH	B	-0.07%
PENN	D	-0.07%
LILA	C	-0.06%
OFG	C	-0.06%
ASGN	D	-0.06%
CCRN	F	-0.06%
TITN	F	-0.06%
SMP	C	-0.06%
OIS	F	-0.06%
CNOB	B	-0.06%
BRKL	C	-0.06%
ALIT	D	-0.06%
KOS	F	-0.06%
LBRT	D	-0.06%
PCRX	F	-0.06%
EGY	D	-0.06%
INDB	C	-0.06%
MATW	F	-0.05%
ETWO	C	-0.05%
CFFN	C	-0.05%
DNB	C	-0.05%
LXU	D	-0.05%
TALO	F	-0.05%
MOV	F	-0.05%
MCFT	D	-0.05%
HVT	D	-0.05%
TTEC	F	-0.05%
IIIN	D	-0.05%
VRNT	F	-0.05%
PPC	D	-0.05%
FBMS	B	-0.05%
TK	C	-0.05%
KELYA	D	-0.05%
AMR	F	-0.05%
REX	D	-0.05%
APA	F	-0.05%
CNDT	C	-0.05%
GCO	D	-0.05%
PLAB	F	-0.05%
KODK	D	-0.04%
SFNC	B	-0.04%
LC	C	-0.04%
ATKR	F	-0.04%
RDUS	D	-0.04%
FBNC	B	-0.04%
IART	F	-0.04%
BBW	C	-0.04%
ENVA	C	-0.04%
FOXF	F	-0.04%
BY	C	-0.04%
HGV	D	-0.04%
OBK	C	-0.04%
HBNC	B	-0.04%
REPX	D	-0.04%
ZEUS	F	-0.04%
BW	F	-0.04%
STNE	F	-0.03%
IMMR	D	-0.03%
PFBC	C	-0.03%
SCVL	B	-0.03%
KRO	D	-0.03%
OLPX	C	-0.03%
UIS	C	-0.03%
NBHC	C	-0.03%
QCRH	B	-0.03%
ENS	C	-0.03%
SWI	B	-0.03%
TBRG	C	-0.03%
CFR	C	-0.03%
DENN	D	-0.03%
AMRX	B	-0.03%
BALY	B	-0.03%
NFBK	C	-0.03%
AMAL	B	-0.03%
WTTR	C	-0.03%
DRVN	C	-0.03%
DVN	F	-0.02%
UCBI	B	-0.02%
GPN	D	-0.02%
EIG	B	-0.02%
STT	A	-0.02%
HOMB	B	-0.02%
MED	F	-0.02%
OXM	D	-0.02%
RYAM	B	-0.02%
ZIMV	F	-0.02%
VREX	F	-0.02%
ACT	A	-0.02%
HRTG	B	-0.01%
AMPY	D	-0.01%
FF	C	-0.01%