MFUS vs. VONG ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Vanguard Russell 1000 Growth ETF (VONG)

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

$50.86

Average Daily Volume

5,340

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

VONG

Vanguard Russell 1000 Growth ETF

VONG Description

The investment seeks to track the performance of a benchmark index that measures the investment return of large-capitalization growth stocks in the United States. The fund employs an indexing investment approach designed to track the performance of the Russell 1000® Growth Index. The index is designed to measure the performance of large-capitalization growth stocks in the United States. 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

$100.50

Average Daily Volume

692,816

Number of Holdings ^*

385

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	VONG
30 Days	-1.04%	2.76%
60 Days	1.72%	5.75%
90 Days	4.04%	6.71%
12 Months	30.11%	36.17%

225 Overlapping Holdings

	Symbol	Grade	Weight in MFUS	Weight in VONG	Overlap
	AAPL	C	0.96%	12.29%	0.96%
	ABBV	F	1.36%	0.55%	0.55%
	ADBE	D	0.04%	0.83%	0.04%
	ADP	B	0.11%	0.38%	0.11%
	ADSK	B	0.09%	0.22%	0.09%
	AJG	B	0.16%	0.02%	0.02%
	ALGN	D	0.01%	0.04%	0.01%
	ALL	A	0.26%	0.03%	0.03%
	ALLY	C	0.05%	0.0%	0.0%
	ALNY	D	0.06%	0.11%	0.06%
	AMAT	F	0.55%	0.56%	0.55%
	AMGN	D	0.94%	0.49%	0.49%
	AMP	A	0.18%	0.16%	0.16%
	AMT	D	0.13%	0.39%	0.13%
	AMZN	B	1.71%	6.28%	1.71%
	ANET	C	0.14%	0.36%	0.14%
	APH	B	0.12%	0.16%	0.12%
	APP	A	0.11%	0.12%	0.11%
	ARES	A	0.09%	0.1%	0.09%
	AVGO	C	1.59%	2.85%	1.59%
	AVY	D	0.09%	0.02%	0.02%
	AWI	B	0.04%	0.01%	0.01%
	AXP	B	0.23%	0.21%	0.21%
	AZO	C	0.28%	0.18%	0.18%
	BAH	D	0.15%	0.08%	0.08%
	BFAM	F	0.02%	0.0%	0.0%
	BKNG	A	0.42%	0.49%	0.42%
	BLD	F	0.03%	0.0%	0.0%
	BLDR	D	0.04%	0.01%	0.01%
	BR	B	0.17%	0.08%	0.08%
	BRKR	F	0.02%	0.02%	0.02%
	BRO	B	0.12%	0.04%	0.04%
	BURL	A	0.03%	0.06%	0.03%
	BWXT	A	0.11%	0.01%	0.01%
	BX	A	0.13%	0.39%	0.13%
	CACC	F	0.01%	0.01%	0.01%
	CAH	B	0.27%	0.06%	0.06%
	CASY	A	0.16%	0.01%	0.01%
	CAT	C	0.2%	0.1%	0.1%
	CC	D	0.02%	0.0%	0.0%
	CDW	F	0.03%	0.06%	0.03%
	CE	F	0.02%	0.01%	0.01%
	CEG	C	0.11%	0.05%	0.05%
	CHE	F	0.06%	0.0%	0.0%
	CI	D	0.13%	0.03%	0.03%
	CL	D	0.35%	0.17%	0.17%
	CLF	F	0.01%	0.01%	0.01%
	CLX	A	0.12%	0.07%	0.07%
	CMG	C	0.2%	0.29%	0.2%
	CNM	C	0.01%	0.02%	0.01%
	COIN	A	0.1%	0.11%	0.1%
	COR	B	0.17%	0.14%	0.14%
	COST	A	1.35%	1.43%	1.35%
	CPAY	A	0.03%	0.08%	0.03%
	CPNG	D	0.04%	0.1%	0.04%
	CPRT	B	0.09%	0.15%	0.09%
	CROX	F	0.01%	0.01%	0.01%
	CSL	C	0.02%	0.01%	0.01%
	CTAS	B	0.19%	0.24%	0.19%
	DASH	A	0.11%	0.16%	0.11%
	DECK	A	0.17%	0.09%	0.09%
	DELL	B	0.03%	0.02%	0.02%
	DKS	D	0.08%	0.0%	0.0%
	DPZ	C	0.13%	0.02%	0.02%
	DRI	C	0.03%	0.04%	0.03%
	DVA	C	0.16%	0.03%	0.03%
	ECL	D	0.08%	0.2%	0.08%
	EFX	F	0.11%	0.03%	0.03%
	ELV	F	0.16%	0.07%	0.07%
	EME	A	0.04%	0.03%	0.03%
	EQH	B	0.08%	0.05%	0.05%
	EXEL	B	0.05%	0.02%	0.02%
	EXP	B	0.07%	0.03%	0.03%
	EXPD	D	0.11%	0.01%	0.01%
	FAST	B	0.13%	0.12%	0.12%
	FDS	B	0.04%	0.02%	0.02%
	FI	A	0.19%	0.12%	0.12%
	FICO	B	0.25%	0.14%	0.14%
	FIX	A	0.06%	0.05%	0.05%
	FTNT	B	0.07%	0.14%	0.07%
	GDDY	A	0.12%	0.08%	0.08%
	GE	D	0.56%	0.16%	0.16%
	GEHC	D	0.07%	0.01%	0.01%
	GNRC	B	0.06%	0.02%	0.02%
	GS	B	0.41%	0.15%	0.15%
	GWRE	A	0.02%	0.02%	0.02%
	GWW	B	0.21%	0.14%	0.14%
	H	B	0.01%	0.0%	0.0%
	HCA	F	0.25%	0.07%	0.07%
	HD	A	0.62%	1.16%	0.62%
	HEI	A	0.04%	0.04%	0.04%
	HEI	A	0.04%	0.06%	0.04%
	HLI	B	0.08%	0.0%	0.0%
	HLT	A	0.1%	0.11%	0.1%
	HPQ	B	0.28%	0.03%	0.03%
	HRB	D	0.08%	0.01%	0.01%
	HSY	F	0.05%	0.01%	0.01%
	HWM	A	0.17%	0.01%	0.01%
	IDXX	F	0.05%	0.15%	0.05%
	INCY	C	0.01%	0.0%	0.0%
	IRM	C	0.12%	0.07%	0.07%
	ISRG	A	0.29%	0.63%	0.29%
	IT	C	0.15%	0.14%	0.14%
	ITW	B	0.1%	0.11%	0.1%
	JBL	C	0.03%	0.0%	0.0%
	JEF	A	0.03%	0.01%	0.01%
	JLL	D	0.06%	0.01%	0.01%
	KBR	F	0.02%	0.0%	0.0%
	KKR	A	0.15%	0.09%	0.09%
	KLAC	F	0.23%	0.38%	0.23%
	KMB	C	0.16%	0.07%	0.07%
	KO	D	1.0%	0.58%	0.58%
	LAMR	D	0.05%	0.01%	0.01%
	LBRDK	C	0.03%	0.01%	0.01%
	LECO	C	0.06%	0.01%	0.01%
	LII	A	0.21%	0.07%	0.07%
	LLY	F	2.39%	2.57%	2.39%
	LMT	D	0.75%	0.14%	0.14%
	LNW	F	0.02%	0.03%	0.02%
	LOPE	B	0.05%	0.0%	0.0%
	LPLA	A	0.07%	0.06%	0.06%
	LPX	B	0.08%	0.02%	0.02%
	LW	C	0.03%	0.01%	0.01%
	MA	B	0.28%	1.48%	0.28%
	MANH	D	0.03%	0.06%	0.03%
	MASI	B	0.03%	0.01%	0.01%
	MCD	D	0.53%	0.05%	0.05%
	MCK	A	0.63%	0.1%	0.1%
	MCO	D	0.15%	0.27%	0.15%
	META	C	2.35%	4.55%	2.35%
	MKSI	C	0.01%	0.0%	0.0%
	MLM	B	0.07%	0.01%	0.01%
	MMC	D	0.2%	0.05%	0.05%
	MMM	D	0.6%	0.05%	0.05%
	MNST	C	0.07%	0.11%	0.07%
	MORN	B	0.03%	0.03%	0.03%
	MPWR	F	0.06%	0.16%	0.06%
	MRK	F	0.84%	1.04%	0.84%
	MS	A	0.22%	0.03%	0.03%
	MSCI	B	0.07%	0.09%	0.07%
	MSI	B	0.2%	0.13%	0.13%
	MTN	C	0.05%	0.02%	0.02%
	MUSA	B	0.16%	0.03%	0.03%
	NBIX	C	0.04%	0.04%	0.04%
	NFLX	A	0.52%	1.1%	0.52%
	NKE	F	0.06%	0.24%	0.06%
	NOW	B	0.36%	0.67%	0.36%
	NRG	B	0.07%	0.03%	0.03%
	NTAP	C	0.1%	0.04%	0.04%
	NVDA	A	1.9%	10.31%	1.9%
	NXST	C	0.05%	0.01%	0.01%
	ODFL	B	0.02%	0.14%	0.02%
	ORCL	A	1.52%	0.97%	0.97%
	ORLY	B	0.2%	0.22%	0.2%
	PANW	B	0.25%	0.38%	0.25%
	PAYX	B	0.04%	0.06%	0.04%
	PEP	F	0.74%	0.67%	0.67%
	PG	C	1.01%	0.33%	0.33%
	PGR	B	0.59%	0.45%	0.45%
	PLTR	A	0.23%	0.27%	0.23%
	POOL	D	0.07%	0.05%	0.05%
	PPC	B	0.01%	0.0%	0.0%
	PSA	C	0.09%	0.03%	0.03%
	PSTG	F	0.04%	0.05%	0.04%
	PTC	B	0.04%	0.05%	0.04%
	PWR	A	0.12%	0.05%	0.05%
	QCOM	F	0.77%	0.65%	0.65%
	RCL	A	0.1%	0.05%	0.05%
	REGN	F	0.36%	0.03%	0.03%
	RLI	A	0.03%	0.0%	0.0%
	RMD	C	0.16%	0.04%	0.04%
	ROL	B	0.07%	0.05%	0.05%
	RPM	B	0.13%	0.01%	0.01%
	SAM	C	0.02%	0.0%	0.0%
	SBUX	A	0.09%	0.31%	0.09%
	SCCO	F	0.0%	0.04%	0.0%
	SCHW	A	0.05%	0.04%	0.04%
	SEE	D	0.06%	0.0%	0.0%
	SHW	C	0.22%	0.3%	0.22%
	SKX	F	0.02%	0.0%	0.0%
	SMCI	F	0.05%	0.07%	0.05%
	SPG	A	0.16%	0.05%	0.05%
	SPR	D	0.01%	0.0%	0.0%
	SQ	A	0.06%	0.06%	0.06%
	SYY	D	0.12%	0.09%	0.09%
	TDC	D	0.01%	0.01%	0.01%
	TDG	D	0.15%	0.06%	0.06%
	TER	F	0.03%	0.07%	0.03%
	TJX	A	0.37%	0.29%	0.29%
	TPX	B	0.03%	0.03%	0.03%
	TRGP	A	0.11%	0.12%	0.11%
	TSCO	D	0.11%	0.11%	0.11%
	TTEK	F	0.01%	0.01%	0.01%
	TW	A	0.06%	0.02%	0.02%
	TXN	C	0.29%	0.08%	0.08%
	TXRH	B	0.06%	0.04%	0.04%
	TYL	B	0.08%	0.08%	0.08%
	UBER	F	0.21%	0.55%	0.21%
	UHAL	D	0.01%	0.0%	0.0%
	UHAL	D	0.01%	0.01%	0.01%
	UHAL	D	0.01%	0.0%	0.0%
	UHAL	D	0.01%	0.01%	0.01%
	ULTA	F	0.04%	0.06%	0.04%
	UNH	C	0.79%	0.13%	0.13%
	UNP	D	0.51%	0.26%	0.26%
	URI	B	0.09%	0.05%	0.05%
	V	A	0.31%	1.57%	0.31%
	VLTO	C	0.04%	0.05%	0.04%
	VRSK	B	0.16%	0.14%	0.14%
	VRSN	F	0.04%	0.0%	0.0%
	VRTX	D	0.22%	0.22%	0.22%
	VST	A	0.23%	0.15%	0.15%
	VVV	D	0.02%	0.02%	0.02%
	WAT	C	0.05%	0.05%	0.05%
	WEN	C	0.05%	0.01%	0.01%
	WH	B	0.04%	0.0%	0.0%
	WM	B	0.28%	0.3%	0.28%
	WMS	F	0.02%	0.02%	0.02%
	WSM	D	0.18%	0.04%	0.04%
	WST	D	0.05%	0.05%	0.05%
	WU	F	0.06%	0.0%	0.0%
	XPO	B	0.04%	0.04%	0.04%
	YUM	D	0.13%	0.05%	0.05%
	ZBRA	B	0.04%	0.01%	0.01%
	ZTS	D	0.05%	0.27%	0.05%

MFUS Overweight 593 Positions Relative to VONG

	Symbol	Grade	Weight
	BRK.A	B	2.42%
	WMT	A	1.71%
	JNJ	D	1.18%
	IBM	C	1.05%
	VZ	C	1.0%
	JPM	A	0.99%
	WFC	A	0.97%
	GILD	C	0.87%
	PM	A	0.87%
	TGT	B	0.74%
	MO	A	0.73%
	T	A	0.73%
	C	B	0.69%
	CSCO	B	0.68%
	CVS	F	0.65%
	PFE	F	0.57%
	BAC	A	0.45%
	XOM	B	0.43%
	TMUS	B	0.43%
	BMY	A	0.41%
	GM	B	0.4%
	CVX	A	0.39%
	KR	B	0.38%
	EBAY	D	0.36%
	LOW	C	0.35%
	NOC	D	0.35%
	MPC	D	0.34%
	AIG	C	0.34%
	MET	A	0.32%
	SYF	B	0.31%
	CHTR	B	0.3%
	ICE	C	0.29%
	COF	B	0.29%
	SPGI	D	0.29%
	THC	C	0.28%
	TMO	F	0.28%
	LHX	B	0.26%
	ACN	C	0.25%
	SFM	A	0.25%
	ANF	C	0.25%
	DHR	D	0.24%
	GD	D	0.24%
	UPS	C	0.24%
	AON	B	0.24%
	MDLZ	F	0.23%
	PSX	C	0.23%
	PRU	B	0.23%
	RTX	D	0.22%
	NEE	C	0.22%
	ADM	D	0.22%
	BBY	D	0.21%
	AFL	C	0.21%
	GLW	B	0.2%
	INTC	C	0.2%
	TRV	A	0.2%
	BSX	A	0.2%
	BLK	B	0.19%
	UTHR	C	0.19%
	TSN	B	0.18%
	BK	B	0.18%
	EA	A	0.18%
	LRCX	F	0.17%
	WSO	A	0.17%
	GIS	F	0.17%
	NEM	D	0.16%
	MU	D	0.16%
	F	C	0.16%
	CB	C	0.16%
	VLO	C	0.16%
	CMCSA	B	0.16%
	KHC	F	0.15%
	K	B	0.15%
	LYB	F	0.15%
	CME	A	0.14%
	CHRW	B	0.14%
	CMI	A	0.14%
	VTRS	A	0.14%
	PH	B	0.14%
	SO	C	0.13%
	EVR	B	0.13%
	DUK	C	0.13%
	JNPR	D	0.13%
	RSG	A	0.13%
	WELL	A	0.12%
	WBA	F	0.12%
	PNC	B	0.12%
	PYPL	B	0.12%
	CW	B	0.11%
	GEN	B	0.11%
	KMI	A	0.11%
	USB	B	0.11%
	CRS	A	0.11%
	WTW	B	0.11%
	HPE	B	0.11%
	ALSN	B	0.11%
	EXR	C	0.11%
	CSX	C	0.11%
	LDOS	C	0.11%
	FOXA	B	0.11%
	BDX	F	0.11%
	PHM	D	0.1%
	OKE	A	0.1%
	AYI	B	0.1%
	PKG	B	0.1%
	JXN	C	0.1%
	WMB	A	0.1%
	DD	D	0.1%
	JKHY	D	0.1%
	DFS	B	0.1%
	XYL	D	0.1%
	SEIC	B	0.09%
	AIZ	A	0.09%
	TFC	A	0.09%
	DGX	A	0.09%
	TAP	B	0.09%
	MLI	B	0.09%
	EMR	A	0.09%
	IEX	B	0.09%
	DG	F	0.09%
	WCC	B	0.09%
	CALM	A	0.09%
	LSTR	D	0.09%
	IR	B	0.09%
	DLR	A	0.09%
	TROW	B	0.09%
	IP	A	0.09%
	EHC	B	0.09%
	CACI	C	0.09%
	TMHC	B	0.09%
	NVR	D	0.09%
	GPI	B	0.09%
	BKR	B	0.08%
	AEP	C	0.08%
	WDC	F	0.08%
	AOS	F	0.08%
	SLG	B	0.08%
	SRE	A	0.08%
	NUE	D	0.08%
	GPK	D	0.08%
	ABG	B	0.08%
	ATR	B	0.08%
	MTD	F	0.08%
	ITT	A	0.08%
	BIIB	F	0.07%
	GLPI	C	0.07%
	EXC	C	0.07%
	SCI	A	0.07%
	UFPI	C	0.07%
	JCI	B	0.07%
	CHD	A	0.07%
	CCI	C	0.07%
	COP	B	0.07%
	BCC	C	0.07%
	INGR	B	0.07%
	NSC	B	0.07%
	D	C	0.07%
	SKYW	B	0.07%
	GEO	A	0.07%
	CNX	A	0.07%
	VNO	C	0.07%
	THO	C	0.07%
	R	B	0.07%
	BALL	D	0.07%
	KDP	D	0.07%
	AEO	F	0.07%
	STE	D	0.07%
	OTIS	C	0.07%
	TTWO	A	0.07%
	FIS	C	0.07%
	HCC	B	0.07%
	STZ	D	0.06%
	G	B	0.06%
	VIRT	A	0.06%
	BC	D	0.06%
	GAP	D	0.06%
	ATGE	B	0.06%
	TPH	D	0.06%
	BFH	B	0.06%
	HIG	B	0.06%
	CPT	C	0.06%
	BERY	D	0.06%
	KTB	A	0.06%
	CCK	D	0.06%
	SLM	B	0.06%
	UHS	D	0.06%
	CMC	B	0.06%
	FCNCA	A	0.06%
	PEG	C	0.06%
	MTH	D	0.06%
	IBKR	A	0.06%
	LUMN	C	0.06%
	MAS	D	0.06%
	L	A	0.06%
	PK	D	0.06%
	DHI	D	0.06%
	TTC	F	0.06%
	FFIV	B	0.06%
	AMG	C	0.06%
	AN	D	0.06%
	RGA	B	0.06%
	MSM	D	0.06%
	OMC	C	0.06%
	ROP	C	0.06%
	TOL	B	0.06%
	LEN	D	0.06%
	TDS	B	0.05%
	NFG	A	0.05%
	CNO	B	0.05%
	PRIM	A	0.05%
	FANG	D	0.05%
	FLEX	B	0.05%
	THG	A	0.05%
	AR	B	0.05%
	ETR	A	0.05%
	NSIT	F	0.05%
	URBN	C	0.05%
	MOG.A	B	0.05%
	SUI	C	0.05%
	TGNA	B	0.05%
	A	F	0.05%
	GNTX	F	0.05%
	NDAQ	A	0.05%
	CBRE	B	0.05%
	CARR	D	0.05%
	CRI	F	0.05%
	USFD	A	0.05%
	SLGN	A	0.05%
	EIX	C	0.05%
	POST	C	0.05%
	COOP	B	0.05%
	TEX	D	0.05%
	KD	A	0.05%
	CBT	C	0.05%
	GVA	A	0.05%
	ANSS	B	0.05%
	HBI	B	0.05%
	FCN	F	0.05%
	WAB	B	0.05%
	MMS	D	0.05%
	BTU	C	0.05%
	ED	C	0.05%
	O	C	0.05%
	MKC	D	0.05%
	SON	F	0.04%
	AVT	C	0.04%
	OSK	C	0.04%
	LANC	D	0.04%
	TKR	F	0.04%
	EQR	C	0.04%
	PPL	A	0.04%
	SEM	B	0.04%
	AMH	C	0.04%
	CRUS	F	0.04%
	CXW	B	0.04%
	ESS	A	0.04%
	INVH	D	0.04%
	SMG	C	0.04%
	JWN	C	0.04%
	CTVA	C	0.04%
	AGNC	C	0.04%
	BDC	B	0.04%
	SLVM	C	0.04%
	CLH	C	0.04%
	FLO	D	0.04%
	ELS	B	0.04%
	FL	F	0.04%
	MTB	A	0.04%
	EMN	D	0.04%
	OLN	F	0.04%
	CFG	B	0.04%
	ARW	F	0.04%
	CAG	F	0.04%
	RUSHA	B	0.04%
	TRN	A	0.04%
	SANM	B	0.04%
	VTR	B	0.04%
	RGLD	C	0.04%
	CVLT	B	0.04%
	BAX	F	0.04%
	NWSA	B	0.04%
	CUBE	C	0.04%
	SJM	D	0.04%
	WTM	A	0.04%
	OGN	F	0.04%
	BHF	C	0.04%
	ATI	C	0.04%
	IPG	F	0.04%
	STLD	B	0.04%
	MAC	A	0.04%
	CPB	D	0.04%
	GBX	B	0.04%
	HUBG	A	0.04%
	FTI	A	0.04%
	SIG	C	0.04%
	MHO	D	0.04%
	CNC	F	0.04%
	GATX	B	0.04%
	CRBG	B	0.04%
	FITB	B	0.04%
	HOOD	A	0.04%
	JHG	B	0.04%
	CMA	B	0.04%
	UNM	A	0.04%
	RS	B	0.04%
	PPG	F	0.04%
	AROC	A	0.04%
	ABM	B	0.04%
	NDSN	D	0.04%
	ERIE	F	0.04%
	DCI	B	0.04%
	WERN	B	0.04%
	DOV	B	0.04%
	MAR	B	0.04%
	COKE	C	0.03%
	RRC	B	0.03%
	HXL	F	0.03%
	SBAC	D	0.03%
	DLTR	F	0.03%
	GMED	A	0.03%
	DRH	B	0.03%
	PNM	B	0.03%
	ACA	A	0.03%
	KMPR	A	0.03%
	LZB	B	0.03%
	KEY	B	0.03%
	WPC	C	0.03%
	HAE	C	0.03%
	UNF	B	0.03%
	PINC	B	0.03%
	APAM	B	0.03%
	FNF	A	0.03%
	VC	F	0.03%
	MAN	F	0.03%
	DK	D	0.03%
	AMKR	F	0.03%
	COLD	F	0.03%
	BKE	B	0.03%
	FHI	B	0.03%
	MRO	A	0.03%
	LNC	B	0.03%
	AVTR	F	0.03%
	OMF	A	0.03%
	RPRX	F	0.03%
	X	C	0.03%
	NTRS	A	0.03%
	UDR	C	0.03%
	PLXS	B	0.03%
	WHR	B	0.03%
	CG	B	0.03%
	OI	D	0.03%
	PRG	C	0.03%
	APLE	B	0.03%
	IFF	D	0.03%
	ASO	F	0.03%
	SHOO	D	0.03%
	AVB	B	0.03%
	AVA	C	0.03%
	DBRG	F	0.03%
	CMS	C	0.03%
	HSIC	C	0.03%
	HOLX	D	0.03%
	COHR	B	0.03%
	RL	C	0.03%
	FE	C	0.03%
	GMS	B	0.03%
	BKU	A	0.03%
	CDP	C	0.03%
	DDS	B	0.03%
	GGG	B	0.03%
	KBH	D	0.03%
	GNW	A	0.03%
	DOX	D	0.03%
	SM	C	0.03%
	HBAN	B	0.03%
	IVZ	C	0.03%
	HUBB	B	0.03%
	MC	B	0.03%
	MATX	B	0.03%
	ES	C	0.03%
	NYT	D	0.03%
	BJ	B	0.03%
	ACM	B	0.03%
	ODP	F	0.02%
	IOSP	C	0.02%
	LXP	D	0.02%
	SAH	B	0.02%
	KEX	B	0.02%
	LEG	F	0.02%
	TTMI	B	0.02%
	VSH	F	0.02%
	SSNC	C	0.02%
	EVRG	A	0.02%
	LAUR	A	0.02%
	UAL	A	0.02%
	KIM	A	0.02%
	AA	A	0.02%
	SF	B	0.02%
	BHE	B	0.02%
	GT	C	0.02%
	GME	C	0.02%
	WBS	A	0.02%
	PHIN	B	0.02%
	ATO	A	0.02%
	BEN	C	0.02%
	RF	A	0.02%
	WAL	B	0.02%
	AXTA	B	0.02%
	ANDE	F	0.02%
	BXP	D	0.02%
	ZION	B	0.02%
	APG	C	0.02%
	DOW	F	0.02%
	SNV	B	0.02%
	NSP	F	0.02%
	HP	C	0.02%
	VFC	C	0.02%
	HST	D	0.02%
	DNOW	B	0.02%
	DTE	C	0.02%
	LAD	B	0.02%
	REZI	A	0.02%
	PMT	D	0.02%
	HNI	B	0.02%
	XRAY	D	0.02%
	WKC	D	0.02%
	HRL	D	0.02%
	SNDR	B	0.02%
	OSIS	A	0.02%
	NAVI	F	0.02%
	PNR	B	0.02%
	EPC	F	0.02%
	M	D	0.02%
	MAA	A	0.02%
	LNT	A	0.02%
	AGCO	F	0.02%
	JBLU	F	0.02%
	PFSI	C	0.02%
	THS	F	0.02%
	RHI	C	0.02%
	DLB	F	0.02%
	NWL	B	0.02%
	OHI	B	0.02%
	MDU	D	0.02%
	OC	A	0.02%
	SXT	C	0.02%
	RLJ	C	0.02%
	YELP	C	0.02%
	DORM	B	0.02%
	APOG	B	0.02%
	CTLT	D	0.02%
	PSN	C	0.02%
	NI	A	0.02%
	XHR	B	0.02%
	PDCO	F	0.02%
	PBF	D	0.02%
	MKTX	D	0.02%
	CINF	A	0.02%
	EWBC	A	0.02%
	NTCT	C	0.02%
	VSCO	A	0.02%
	MCY	B	0.02%
	AIR	B	0.02%
	HOG	F	0.02%
	FAF	C	0.02%
	SBH	B	0.02%
	PAG	B	0.02%
	HII	F	0.02%
	VSTO	A	0.02%
	KSS	F	0.02%
	PVH	C	0.02%
	CCL	A	0.02%
	RYN	D	0.02%
	AKAM	F	0.02%
	JBHT	C	0.02%
	ADNT	F	0.02%
	ORA	B	0.02%
	MTG	D	0.02%
	TFX	F	0.02%
	GEF	B	0.02%
	MSA	D	0.02%
	WRB	B	0.02%
	NEU	D	0.02%
	GHC	B	0.02%
	STC	B	0.02%
	SVC	F	0.01%
	QRVO	F	0.01%
	AAP	D	0.01%
	CPRI	F	0.01%
	NOV	D	0.01%
	KNX	B	0.01%
	RKT	F	0.01%
	JELD	F	0.01%
	DINO	D	0.01%
	SCL	D	0.01%
	MLKN	F	0.01%
	IGT	F	0.01%
	PARA	D	0.01%
	RVTY	D	0.01%
	ARI	C	0.01%
	WOR	F	0.01%
	ELAN	D	0.01%
	CNXN	D	0.01%
	ACI	C	0.01%
	GIII	D	0.01%
	UGI	C	0.01%
	ECPG	C	0.01%
	ALEX	B	0.01%
	UVV	B	0.01%
	JBGS	F	0.01%
	HTH	B	0.01%
	SEB	F	0.01%
	RDN	D	0.01%
	IMKTA	C	0.01%
	XRX	F	0.01%
	SR	A	0.01%
	ARMK	C	0.01%
	OUT	A	0.01%
	PNW	B	0.01%
	SHO	D	0.01%
	WGO	D	0.01%
	AMED	F	0.01%
	CNS	B	0.01%
	SSB	B	0.01%
	SWX	A	0.01%
	KALU	C	0.01%
	ESI	B	0.01%
	CENTA	C	0.01%
	CVI	D	0.01%
	MOS	D	0.01%
	ARCH	B	0.01%
	PECO	A	0.01%
	PB	A	0.01%
	SAIC	F	0.01%
	OMI	F	0.01%
	FDP	B	0.01%
	PFG	C	0.01%
	SIGI	B	0.01%
	LEA	F	0.01%
	WAFD	B	0.01%
	BRC	C	0.01%
	DY	C	0.01%
	SPB	C	0.01%
	NNN	C	0.01%
	AES	F	0.01%
	CFR	B	0.01%
	FELE	B	0.01%
	DAN	F	0.01%
	WMK	B	0.01%
	MHK	D	0.01%
	FLR	B	0.01%
	KN	B	0.01%
	STRA	C	0.01%
	BBWI	C	0.01%
	ESNT	D	0.01%
	TPR	B	0.01%
	DXC	D	0.01%
	IDCC	B	0.01%
	LADR	B	0.01%
	NNI	D	0.01%
	GES	F	0.01%
	ESAB	C	0.01%
	CWEN	C	0.01%
	ONB	B	0.01%
	CBSH	A	0.01%
	WWD	B	0.01%
	MUR	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%
	CADE	B	0.01%
	WTFC	B	0.01%
	FHN	A	0.01%
	PSMT	D	0.01%
	ADC	A	0.01%
	SATS	C	0.01%
	RBC	A	0.01%
	BWA	D	0.01%
	SLB	C	0.01%
	GOLF	B	0.01%
	FR	C	0.01%
	DTM	A	0.01%
	DEI	B	0.01%
	AMWD	C	0.01%
	PTEN	C	0.01%
	SCS	B	0.01%
	VNT	C	0.01%
	NOMD	D	0.0%
	WOLF	F	0.0%
	HUN	F	0.0%

MFUS Underweight 162 Positions Relative to VONG

	Symbol	Grade	Weight
	MSFT	D	-11.61%
	GOOGL	B	-3.54%
	GOOG	B	-2.99%
	TSLA	A	-2.64%
	CRM	B	-0.79%
	AMD	F	-0.63%
	INTU	B	-0.62%
	SNPS	C	-0.28%
	CDNS	B	-0.27%
	CRWD	B	-0.23%
	SPOT	B	-0.2%
	ABNB	D	-0.2%
	WDAY	C	-0.19%
	TTD	B	-0.18%
	APO	A	-0.18%
	NU	C	-0.16%
	SYK	A	-0.14%
	VRT	A	-0.13%
	SNOW	C	-0.13%
	LULU	C	-0.12%
	DDOG	A	-0.12%
	TT	A	-0.11%
	VEEV	C	-0.11%
	DXCM	C	-0.1%
	AXON	A	-0.1%
	NET	B	-0.09%
	HES	B	-0.09%
	TEAM	A	-0.09%
	HUBS	B	-0.09%
	HON	B	-0.08%
	LNG	A	-0.08%
	RBLX	B	-0.08%
	EXPE	B	-0.07%
	MDB	C	-0.07%
	PINS	F	-0.07%
	ZS	B	-0.06%
	DT	C	-0.06%
	PODD	B	-0.06%
	TPL	A	-0.06%
	ENTG	F	-0.06%
	LYV	A	-0.06%
	DKNG	B	-0.06%
	LVS	B	-0.06%
	TOST	A	-0.05%
	DOCU	B	-0.05%
	MOH	F	-0.05%
	NTRA	A	-0.05%
	BA	D	-0.05%
	ENPH	F	-0.05%
	OWL	A	-0.04%
	KNSL	B	-0.04%
	DUOL	A	-0.04%
	SRPT	F	-0.04%
	ROST	D	-0.04%
	WING	D	-0.04%
	BSY	D	-0.03%
	PEN	B	-0.03%
	TREX	D	-0.03%
	PCTY	B	-0.03%
	AAON	B	-0.03%
	SMAR	A	-0.03%
	ITCI	B	-0.03%
	EW	C	-0.03%
	EL	F	-0.03%
	MEDP	D	-0.03%
	VMC	B	-0.03%
	NCLH	B	-0.03%
	HAS	D	-0.03%
	CHDN	C	-0.03%
	ETSY	D	-0.02%
	EQIX	A	-0.02%
	AZEK	B	-0.02%
	MKL	A	-0.02%
	FND	F	-0.02%
	IQV	F	-0.02%
	PATH	C	-0.02%
	EXAS	D	-0.02%
	OLED	F	-0.02%
	MRVL	B	-0.02%
	RARE	F	-0.02%
	CFLT	B	-0.02%
	OKTA	D	-0.02%
	APPF	C	-0.02%
	PAYC	B	-0.02%
	FOUR	A	-0.02%
	CELH	F	-0.02%
	IONS	F	-0.02%
	ELF	C	-0.02%
	GTLB	B	-0.02%
	WFRD	F	-0.02%
	INSP	F	-0.02%
	ESTC	C	-0.02%
	LSCC	D	-0.02%
	GLOB	C	-0.02%
	PCOR	C	-0.02%
	CVNA	A	-0.02%
	VKTX	F	-0.02%
	SAIA	C	-0.02%
	RYAN	B	-0.02%
	BROS	A	-0.01%
	CIVI	D	-0.01%
	ROKU	D	-0.01%
	SN	D	-0.01%
	TXG	F	-0.01%
	NCNO	B	-0.01%
	MSTR	A	-0.01%
	PFGC	B	-0.01%
	DBX	C	-0.01%
	PR	B	-0.01%
	AM	A	-0.01%
	FRPT	A	-0.01%
	WSC	F	-0.01%
	FIVN	C	-0.01%
	TWLO	A	-0.01%
	SITE	D	-0.01%
	RNG	C	-0.01%
	ONTO	F	-0.01%
	EG	D	-0.01%
	ROK	B	-0.01%
	U	F	-0.01%
	APLS	F	-0.01%
	CHH	A	-0.01%
	LYFT	C	-0.01%
	PEGA	B	-0.01%
	HCP	B	-0.01%
	FIVE	F	-0.01%
	PLNT	A	-0.01%
	NTNX	B	-0.01%
	TRIP	F	-0.0%
	PYCR	C	-0.0%
	FTRE	D	-0.0%
	LBRDA	C	-0.0%
	MSGS	B	-0.0%
	NFE	F	-0.0%
	IRDM	F	-0.0%
	CGNX	D	-0.0%
	DOCS	C	-0.0%
	UI	A	-0.0%
	MTDR	C	-0.0%
	AAL	B	-0.0%
	UWMC	D	-0.0%
	DJT	C	-0.0%
	CAR	C	-0.0%
	EPAM	C	-0.0%
	WYNN	D	-0.0%
	BPOP	C	-0.0%
	XP	F	-0.0%
	SSD	D	-0.0%
	WEX	F	-0.0%
	KMX	C	-0.0%
	RH	D	-0.0%
	DAY	B	-0.0%
	YETI	D	-0.0%
	S	B	-0.0%
	TRU	D	-0.0%
	RGEN	F	-0.0%
	TPG	A	-0.0%
	SOFI	A	-0.0%
	TKO	A	-0.0%
	EQT	A	-0.0%
	BILL	B	-0.0%
	DV	C	-0.0%

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

VONG: Top Represented Industries & Keywords

Industries: Software - Application Software - Infrastructure Biotechnology Business Services Specialty Retail Capital Markets Restaurants Building Materials Asset Management Diagnostics & Research Semiconductors Aerospace & Defense Diversified Industrials Internet Content & Information Leisure Semiconductor Equipment & Materials Credit Services Household & Personal Products Medical Devices Engineering & Construction

Keywords: S&P 500 Nasdaq 100 Computing Cloud Computing IBD 50 Dow Jones Component Medicine Software Insurance Software As A Service Work From Home Cloud Infrastructure Electronics Mobile Devices Natural Gas Semiconductor Operating System Telecommunications Payment Systems Retailing