MFUS vs. VO ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Vanguard Mid-Cap ETF - DNQ (VO)

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

VO

Vanguard Mid-Cap ETF - DNQ

VO Description

The investment seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization stocks. The fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Index, a broadly diversified index of stocks of mid-size U.S. companies. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Grade (RS Rating)

Last Trade

$261.97

Average Daily Volume

533,019

Number of Holdings ^*

305

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	VO
30 Days	3.10%	4.02%
60 Days	4.82%	5.59%
90 Days	5.74%	7.89%
12 Months	28.93%	24.37%

194 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in VO	Overlap
A	C	0.05%	0.52%	0.05%
ADM	D	0.32%	0.38%	0.32%
AES	C	0.03%	0.08%	0.03%
AIG	D	0.42%	0.32%	0.32%
AJG	D	0.09%	0.8%	0.09%
AKAM	D	0.03%	0.19%	0.03%
ALGN	D	0.02%	0.21%	0.02%
ALL	B	0.36%	0.62%	0.36%
AMP	A	0.08%	0.56%	0.08%
ANSS	D	0.05%	0.35%	0.05%
APH	D	0.1%	1.01%	0.1%
APO	C	0.1%	0.57%	0.1%
ARES	B	0.09%	0.33%	0.09%
AVTR	B	0.03%	0.22%	0.03%
AVY	C	0.1%	0.22%	0.1%
AZO	D	0.3%	0.34%	0.3%
BALL	C	0.07%	0.25%	0.07%
BAX	C	0.04%	0.24%	0.04%
BBY	C	0.24%	0.24%	0.24%
BEN	F	0.04%	0.08%	0.04%
BIIB	F	0.08%	0.37%	0.08%
BKR	C	0.16%	0.44%	0.16%
BMRN	F	0.02%	0.22%	0.02%
BR	D	0.16%	0.31%	0.16%
BRO	C	0.13%	0.15%	0.13%
BURL	B	0.03%	0.21%	0.03%
CAG	C	0.05%	0.19%	0.05%
CAH	C	0.35%	0.34%	0.34%
CARR	B	0.12%	0.78%	0.12%
CCL	C	0.05%	0.21%	0.05%
CDW	D	0.05%	0.38%	0.05%
CE	F	0.07%	0.18%	0.07%
CEG	C	0.09%	0.77%	0.09%
CFG	C	0.06%	0.23%	0.06%
CHD	D	0.07%	0.31%	0.07%
CINF	B	0.02%	0.27%	0.02%
CLX	C	0.15%	0.24%	0.15%
CMI	C	0.11%	0.53%	0.11%
COIN	F	0.06%	0.39%	0.06%
CPAY	B	0.05%	0.26%	0.05%
CPB	C	0.01%	0.12%	0.01%
CPRT	D	0.19%	0.57%	0.19%
CRBG	D	0.04%	0.08%	0.04%
CTAS	B	0.18%	0.87%	0.18%
CTRA	D	0.02%	0.21%	0.02%
CTVA	B	0.03%	0.49%	0.03%
DASH	C	0.09%	0.52%	0.09%
DD	B	0.21%	0.4%	0.21%
DFS	B	0.08%	0.43%	0.08%
DG	F	0.05%	0.23%	0.05%
DGX	B	0.06%	0.22%	0.06%
DLR	B	0.08%	0.61%	0.08%
DLTR	F	0.02%	0.22%	0.02%
DOV	B	0.02%	0.32%	0.02%
DOW	D	0.04%	0.47%	0.04%
DPZ	F	0.18%	0.18%	0.18%
DRI	B	0.03%	0.24%	0.03%
EA	D	0.09%	0.5%	0.09%
EBAY	B	0.34%	0.37%	0.34%
EFX	B	0.09%	0.47%	0.09%
EVRG	B	0.01%	0.08%	0.01%
EXC	C	0.12%	0.47%	0.12%
EXPD	C	0.07%	0.22%	0.07%
EXR	B	0.07%	0.47%	0.07%
FANG	D	0.04%	0.43%	0.04%
FAST	C	0.1%	0.49%	0.1%
FDS	C	0.05%	0.2%	0.05%
FICO	B	0.22%	0.51%	0.22%
FIS	B	0.08%	0.57%	0.08%
FITB	B	0.05%	0.36%	0.05%
FNF	B	0.03%	0.19%	0.03%
FOXA	B	0.08%	0.12%	0.08%
FTNT	C	0.06%	0.29%	0.06%
GDDY	C	0.09%	0.29%	0.09%
GEHC	C	0.02%	0.46%	0.02%
GIS	B	0.11%	0.51%	0.11%
GLW	C	0.2%	0.4%	0.2%
GPC	D	0.02%	0.25%	0.02%
GWW	B	0.17%	0.54%	0.17%
HAL	F	0.04%	0.31%	0.04%
HBAN	B	0.03%	0.27%	0.03%
HEI	B	0.04%	0.13%	0.04%
HEI	B	0.04%	0.19%	0.04%
HIG	B	0.06%	0.43%	0.06%
HLT	B	0.08%	0.34%	0.08%
HOLX	B	0.03%	0.24%	0.03%
HPE	D	0.2%	0.31%	0.2%
HPQ	D	0.27%	0.42%	0.27%
HRL	C	0.01%	0.12%	0.01%
HST	C	0.02%	0.08%	0.02%
HSY	C	0.06%	0.36%	0.06%
HUBB	B	0.08%	0.13%	0.08%
HWM	B	0.12%	0.49%	0.12%
IBKR	B	0.05%	0.16%	0.05%
IDXX	C	0.06%	0.5%	0.06%
IFF	B	0.03%	0.33%	0.03%
INCY	C	0.01%	0.14%	0.01%
INVH	C	0.06%	0.27%	0.06%
IP	B	0.12%	0.21%	0.12%
IR	C	0.09%	0.46%	0.09%
IRM	C	0.11%	0.41%	0.11%
IT	B	0.16%	0.45%	0.16%
JBHT	D	0.02%	0.18%	0.02%
K	B	0.1%	0.27%	0.1%
KEY	B	0.02%	0.2%	0.02%
KMI	B	0.08%	0.25%	0.08%
KR	C	0.34%	0.43%	0.34%
L	C	0.08%	0.19%	0.08%
LDOS	B	0.08%	0.13%	0.08%
LEN	B	0.08%	0.02%	0.02%
LEN	B	0.08%	0.56%	0.08%
LHX	C	0.19%	0.56%	0.19%
LPLA	D	0.07%	0.21%	0.07%
LVS	D	0.01%	0.18%	0.01%
LW	D	0.04%	0.06%	0.04%
LYB	D	0.21%	0.32%	0.21%
MAS	B	0.06%	0.22%	0.06%
MKC	C	0.08%	0.25%	0.08%
MKL	C	0.03%	0.25%	0.03%
MLM	D	0.06%	0.41%	0.06%
MOH	D	0.03%	0.24%	0.03%
MPWR	C	0.08%	0.54%	0.08%
MRO	C	0.1%	0.2%	0.1%
MSCI	C	0.07%	0.54%	0.07%
MSI	B	0.15%	0.92%	0.15%
MTB	B	0.03%	0.36%	0.03%
MTD	D	0.08%	0.38%	0.08%
NDAQ	A	0.02%	0.41%	0.02%
NEM	B	0.09%	0.77%	0.09%
NTAP	D	0.08%	0.31%	0.08%
NTRS	A	0.02%	0.22%	0.02%
NUE	F	0.08%	0.45%	0.08%
NVR	B	0.07%	0.34%	0.07%
NWSA	D	0.06%	0.17%	0.06%
ODFL	D	0.02%	0.47%	0.02%
OKE	B	0.08%	0.67%	0.08%
OKTA	F	0.03%	0.16%	0.03%
OMC	B	0.06%	0.25%	0.06%
OTIS	C	0.07%	0.48%	0.07%
PCAR	D	0.08%	0.63%	0.08%
PEG	B	0.05%	0.5%	0.05%
PFG	B	0.01%	0.24%	0.01%
PHM	B	0.17%	0.35%	0.17%
PINS	F	0.04%	0.24%	0.04%
PKG	B	0.05%	0.23%	0.05%
POOL	C	0.07%	0.08%	0.07%
PPG	D	0.04%	0.38%	0.04%
PRU	C	0.25%	0.54%	0.25%
PWR	B	0.13%	0.5%	0.13%
RCL	B	0.08%	0.45%	0.08%
RJF	C	0.01%	0.28%	0.01%
RMD	C	0.13%	0.45%	0.13%
ROL	C	0.05%	0.18%	0.05%
RPRX	C	0.03%	0.14%	0.03%
SBAC	C	0.03%	0.3%	0.03%
SJM	C	0.03%	0.07%	0.03%
SMCI	F	0.14%	0.27%	0.14%
SNAP	F	0.02%	0.12%	0.02%
SPG	B	0.15%	0.32%	0.15%
STE	C	0.12%	0.3%	0.12%
STLD	F	0.04%	0.11%	0.04%
SUI	B	0.05%	0.21%	0.05%
SYF	C	0.29%	0.25%	0.25%
SYY	D	0.07%	0.24%	0.07%
TDG	B	0.15%	0.91%	0.15%
TER	D	0.03%	0.27%	0.03%
TROW	D	0.08%	0.3%	0.08%
TSCO	C	0.07%	0.36%	0.07%
TSN	C	0.22%	0.23%	0.22%
TTWO	C	0.07%	0.33%	0.07%
TW	B	0.05%	0.17%	0.05%
TXT	D	0.03%	0.22%	0.03%
TYL	C	0.08%	0.31%	0.08%
UAL	C	0.01%	0.18%	0.01%
UDR	C	0.03%	0.09%	0.03%
ULTA	D	0.04%	0.21%	0.04%
URI	B	0.09%	0.62%	0.09%
VMC	D	0.06%	0.4%	0.06%
VRSK	D	0.2%	0.49%	0.2%
VRSN	D	0.04%	0.2%	0.04%
VST	C	0.26%	0.37%	0.26%
VTRS	D	0.13%	0.18%	0.13%
WAB	B	0.04%	0.37%	0.04%
WAT	C	0.05%	0.26%	0.05%
WBA	F	0.14%	0.08%	0.08%
WDC	D	0.15%	0.27%	0.15%
WELL	C	0.12%	0.9%	0.12%
WMB	B	0.08%	0.35%	0.08%
WPC	C	0.05%	0.16%	0.05%
WRB	C	0.02%	0.21%	0.02%
WST	D	0.04%	0.28%	0.04%
WTW	C	0.05%	0.37%	0.05%
XYL	C	0.11%	0.42%	0.11%
YUM	D	0.1%	0.47%	0.1%

MFUS Overweight 588 Positions Relative to VO

Symbol	Grade	Weight
LLY	C	2.48%
META	B	2.02%
BRK.A	C	2.01%
WMT	C	1.87%
NVDA	D	1.6%
WFC	D	1.4%
AVGO	C	1.34%
ABBV	C	1.34%
IBM	B	1.32%
AMZN	C	1.27%
T	C	1.23%
C	C	1.22%
COST	B	1.21%
GOOGL	D	1.17%
ORCL	C	1.13%
GE	B	1.09%
JNJ	C	1.03%
AMGN	B	1.03%
VZ	B	1.01%
XOM	C	0.99%
JPM	D	0.9%
PG	C	0.88%
MRK	D	0.87%
V	C	0.86%
CVS	D	0.8%
MA	B	0.79%
CVX	D	0.79%
GILD	B	0.78%
TGT	C	0.68%
AAPL	C	0.67%
MPC	F	0.64%
PEP	C	0.62%
QCOM	D	0.62%
KO	C	0.6%
PM	C	0.56%
GM	C	0.56%
VLO	F	0.54%
PSX	F	0.54%
PFE	C	0.53%
MO	C	0.52%
LMT	C	0.52%
MCK	F	0.51%
PGR	B	0.5%
UNP	C	0.48%
BKNG	C	0.47%
GS	C	0.45%
REGN	C	0.45%
NFLX	B	0.44%
AMAT	D	0.44%
CSCO	C	0.42%
COF	B	0.42%
MMM	B	0.41%
CAT	B	0.41%
MCD	B	0.4%
BAC	D	0.39%
HD	B	0.39%
NOW	B	0.37%
MET	B	0.36%
INTC	F	0.36%
CRM	D	0.35%
TJX	B	0.34%
CL	D	0.33%
F	F	0.33%
TRV	C	0.32%
TMUS	C	0.31%
COP	D	0.3%
ICE	C	0.29%
BMY	C	0.28%
BK	B	0.27%
DHR	B	0.27%
THC	A	0.27%
LRCX	F	0.27%
INTU	C	0.26%
ANF	D	0.26%
PANW	D	0.25%
CHTR	D	0.24%
CMCSA	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%
SHW	B	0.21%
TXN	C	0.21%
UBER	C	0.21%
VRTX	D	0.21%
WSM	D	0.21%
WSO	C	0.2%
CME	C	0.2%
UPS	D	0.19%
BSX	B	0.19%
AXP	B	0.19%
MMC	C	0.19%
ACN	C	0.19%
SFM	B	0.19%
AFL	C	0.19%
AON	B	0.19%
DVA	B	0.18%
ETN	C	0.18%
ORLY	C	0.18%
DECK	C	0.17%
MUSA	D	0.17%
GD	B	0.17%
CB	B	0.16%
KHC	C	0.16%
KMB	D	0.16%
SCHW	D	0.16%
UTHR	C	0.16%
MU	F	0.15%
EMR	D	0.15%
CASY	D	0.15%
BAH	C	0.14%
CI	C	0.14%
KKR	B	0.13%
RSG	D	0.13%
JNPR	B	0.13%
TRGP	B	0.13%
PH	B	0.13%
DUK	C	0.13%
HCA	B	0.13%
EVR	A	0.12%
ANET	B	0.12%
EOG	D	0.11%
AOS	D	0.11%
USB	B	0.11%
RPM	B	0.11%
MAR	C	0.11%
GPK	B	0.1%
PNC	B	0.1%
TOL	B	0.1%
JKHY	B	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%
USFD	B	0.09%
AEO	F	0.09%
ADSK	C	0.09%
ADP	B	0.09%
SLB	F	0.09%
JXN	A	0.09%
CHRW	B	0.09%
BDX	D	0.09%
TFC	C	0.09%
FCX	D	0.09%
HRB	C	0.09%
UHS	B	0.09%
DKS	D	0.09%
CACI	B	0.09%
WCC	D	0.08%
OGN	D	0.08%
LECO	F	0.08%
WU	F	0.08%
HLI	B	0.08%
MTH	A	0.08%
ALSN	B	0.08%
ITT	B	0.08%
ECL	B	0.08%
EHC	C	0.08%
RS	D	0.08%
LUMN	C	0.08%
BWXT	D	0.08%
ITW	C	0.08%
TMHC	A	0.08%
IEX	D	0.08%
AN	D	0.08%
ELV	C	0.08%
CW	B	0.08%
CSX	D	0.08%
LSTR	D	0.08%
TAP	D	0.08%
PNR	B	0.08%
JBL	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%
OSK	F	0.07%
FCN	D	0.07%
EQH	C	0.07%
OC	D	0.07%
SEIC	C	0.07%
GAP	F	0.07%
NRG	C	0.07%
ATR	B	0.07%
GLPI	C	0.07%
IPG	C	0.07%
TTC	D	0.07%
ROST	C	0.07%
AIZ	B	0.07%
AYI	B	0.07%
MMS	C	0.06%
TPX	C	0.06%
MNST	D	0.06%
PK	D	0.06%
BERY	B	0.06%
KD	D	0.06%
R	A	0.06%
VNO	B	0.06%
MSM	D	0.06%
SBUX	C	0.06%
HCC	F	0.06%
EMN	B	0.06%
KSS	F	0.06%
CPT	B	0.06%
CHE	C	0.06%
BCC	B	0.06%
BC	C	0.06%
TEX	F	0.06%
NSIT	D	0.06%
X	F	0.06%
SLM	D	0.06%
INGR	B	0.06%
SCI	B	0.06%
ROP	C	0.06%
SPGI	B	0.06%
SEE	D	0.06%
GNTX	F	0.06%
PBF	F	0.06%
CRI	D	0.06%
MLI	A	0.06%
THO	D	0.06%
CNX	B	0.06%
LPX	B	0.06%
KDP	B	0.06%
UFPI	C	0.06%
AMG	C	0.05%
ATGE	C	0.05%
CBT	B	0.05%
CRUS	D	0.05%
BWA	D	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%
LAMR	B	0.05%
LOPE	D	0.05%
MTN	D	0.05%
VIRT	C	0.05%
TXRH	C	0.05%
NYT	C	0.05%
PTC	D	0.05%
NXST	D	0.05%
FCNCA	D	0.05%
DELL	D	0.05%
SANM	D	0.05%
FL	D	0.05%
POST	C	0.05%
FIX	B	0.05%
URBN	F	0.05%
G	C	0.05%
FLEX	C	0.05%
JLL	B	0.05%
EXP	B	0.05%
MHO	B	0.05%
KTB	B	0.05%
IVZ	B	0.05%
TPH	C	0.05%
CMA	B	0.04%
APLE	D	0.04%
GEO	F	0.04%
SAIA	D	0.04%
OLN	D	0.04%
HUBG	C	0.04%
WTM	D	0.04%
RL	C	0.04%
FHI	A	0.04%
TGNA	D	0.04%
BLDR	C	0.04%
COLD	D	0.04%
GATX	D	0.04%
VC	F	0.04%
MOS	F	0.04%
CNO	B	0.04%
SON	C	0.04%
AR	F	0.04%
XRAY	D	0.04%
PR	F	0.04%
AMH	C	0.04%
RGLD	C	0.04%
GVA	B	0.04%
RRC	D	0.04%
NBIX	F	0.04%
ENTG	F	0.04%
PVH	F	0.04%
GNW	B	0.04%
ELS	C	0.04%
MAN	C	0.04%
SEB	D	0.04%
ABM	D	0.04%
AGNC	B	0.04%
FFIV	B	0.04%
FLO	C	0.04%
MOG.A	B	0.04%
DCI	C	0.04%
MTG	B	0.04%
ADBE	F	0.04%
BTU	D	0.04%
HXL	F	0.04%
THG	B	0.04%
GGG	C	0.04%
ZTS	C	0.04%
SRCL	A	0.04%
KBH	A	0.04%
ACM	B	0.04%
WHR	D	0.04%
BDC	B	0.04%
NDSN	C	0.04%
NKE	D	0.04%
LANC	D	0.04%
STZ	D	0.04%
GNRC	D	0.04%
SIG	C	0.04%
SMG	C	0.04%
NOV	F	0.04%
AVT	C	0.04%
M	F	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%
MAC	B	0.04%
NEU	D	0.03%
SSD	D	0.03%
ZION	D	0.03%
COKE	C	0.03%
HOOD	C	0.03%
VVV	D	0.03%
FR	B	0.03%
PRG	B	0.03%
NAVI	C	0.03%
MC	B	0.03%
RLI	B	0.03%
DK	F	0.03%
BKU	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%
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%
BJ	D	0.03%
WTS	C	0.03%
SBH	B	0.03%
MCO	B	0.03%
DLB	D	0.03%
TFX	C	0.03%
HBI	B	0.03%
HSIC	C	0.03%
LEA	F	0.03%
TRN	D	0.03%
AVA	C	0.03%
PDCO	F	0.03%
GT	F	0.03%
BLD	D	0.03%
MANH	B	0.03%
EME	B	0.03%
SEM	D	0.03%
SLVM	B	0.03%
TDS	C	0.03%
ACA	B	0.03%
JEF	B	0.03%
FND	C	0.03%
DINO	F	0.03%
DOX	C	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%
JHG	B	0.03%
ASO	C	0.03%
OMF	D	0.03%
APG	D	0.03%
UHAL	A	0.03%
PSTG	F	0.03%
GMS	D	0.03%
AROC	D	0.03%
CPNG	B	0.03%
PAYX	C	0.03%
PSA	B	0.03%
DDS	F	0.03%
JWN	C	0.03%
OI	D	0.03%
LEG	D	0.02%
TTEK	C	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%
RHI	D	0.02%
DORM	B	0.02%
CHDN	C	0.02%
EWBC	D	0.02%
OSIS	D	0.02%
BBWI	F	0.02%
GES	F	0.02%
XRX	D	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%
XHR	B	0.02%
AIT	A	0.02%
AGCO	D	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%
MKTX	C	0.02%
PFSI	C	0.02%
CG	D	0.02%
GEF	D	0.02%
HAE	F	0.02%
HII	D	0.02%
GMED	D	0.02%
SKX	D	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%
CHRD	F	0.02%
AXTA	B	0.02%
TDC	F	0.02%
PNM	B	0.02%
FAF	B	0.02%
WERN	D	0.02%
EXEL	C	0.02%
DRH	C	0.02%
PINC	C	0.02%
LZB	C	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%
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%
KNX	C	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%
ACI	F	0.01%
SWN	D	0.01%
ECPG	D	0.01%
MKSI	F	0.01%
WGO	D	0.01%
TPR	C	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%
CNM	F	0.01%
SYNA	F	0.01%
ESAB	C	0.01%
SIGI	D	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%
MHK	C	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%
ESNT	B	0.01%
FYBR	C	0.01%
PHIN	B	0.01%
SCS	D	0.01%
DNOW	D	0.01%
WAL	B	0.01%
CSL	B	0.01%
SATS	C	0.01%
NOMD	B	0.0%
WOLF	F	0.0%

MFUS Underweight 111 Positions Relative to VO

Symbol	Grade	Weight
PLTR	B	-0.79%
DHI	B	-0.7%
O	C	-0.67%
PCG	C	-0.64%
WCN	D	-0.6%
TTD	B	-0.56%
MCHP	F	-0.55%
IQV	C	-0.54%
CNC	D	-0.53%
KVUE	C	-0.52%
LNG	C	-0.5%
ACGL	C	-0.5%
HES	F	-0.5%
AME	C	-0.49%
CTSH	C	-0.48%
ED	C	-0.44%
CBRE	A	-0.44%
EIX	C	-0.42%
ON	D	-0.42%
XEL	B	-0.42%
MRVL	C	-0.41%
ALNY	C	-0.41%
VICI	C	-0.4%
AVB	B	-0.4%
DDOG	D	-0.4%
ROK	D	-0.39%
VEEV	C	-0.39%
CSGP	D	-0.39%
WEC	C	-0.37%
VRT	C	-0.37%
AWK	B	-0.35%
GRMN	D	-0.35%
DVN	F	-0.35%
KEYS	C	-0.34%
EQR	B	-0.34%
DAL	C	-0.34%
GEV	B	-0.34%
DXCM	F	-0.34%
FTV	C	-0.33%
VLTO	C	-0.33%
MRNA	F	-0.33%
ETR	B	-0.32%
TEAM	D	-0.32%
JCI	B	-0.31%
STT	A	-0.31%
VTR	C	-0.31%
ES	C	-0.3%
ZBH	F	-0.3%
FE	C	-0.3%
HUBS	D	-0.3%
FSLR	C	-0.29%
DTE	C	-0.29%
D	C	-0.29%
NET	D	-0.29%
PPL	C	-0.29%
RBLX	B	-0.28%
WY	C	-0.28%
GPN	D	-0.28%
RF	B	-0.27%
CBOE	C	-0.27%
AEE	C	-0.27%
TDY	B	-0.26%
STX	C	-0.26%
ARE	C	-0.26%
ILMN	C	-0.26%
MDB	D	-0.25%
CMS	C	-0.25%
J	C	-0.24%
MAA	B	-0.24%
ESS	B	-0.24%
APTV	D	-0.24%
SQ	D	-0.23%
TRU	B	-0.23%
WBD	D	-0.22%
LUV	C	-0.22%
CNP	C	-0.22%
SWKS	D	-0.22%
EXPE	C	-0.22%
ZBRA	B	-0.22%
ZS	F	-0.22%
EG	C	-0.21%
SWK	B	-0.2%
SSNC	B	-0.2%
LYV	B	-0.2%
ZM	C	-0.2%
LULU	D	-0.19%
LNT	B	-0.19%
SNA	C	-0.19%
CF	C	-0.19%
ENPH	D	-0.19%
TRMB	C	-0.17%
MSTR	D	-0.13%
ALB	D	-0.13%
EQT	D	-0.12%
MGM	F	-0.11%
DOC	C	-0.1%
TPL	B	-0.1%
BSY	D	-0.1%
PODD	B	-0.09%
NI	B	-0.09%
EPAM	F	-0.07%
LKQ	F	-0.07%
WMG	D	-0.05%
FOX	B	-0.05%
RKT	C	-0.03%
AGR	B	-0.03%
WLK	D	-0.03%
EDR	A	-0.02%
NWS	D	-0.01%
SIRI	C	-0.0%
LSXMK	D	-0.0%