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

$47.72

Average Daily Volume

7,491

Number of Holdings ^*

780

* 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

$89.12

Average Daily Volume

765,514

Number of Holdings ^*

385

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	VONG
30 Days	4.11%	4.11%
60 Days	0.45%	-8.46%
90 Days	2.34%	-1.25%
12 Months	22.13%	25.48%

232 Overlapping Holdings

	Symbol	Grade	Weight in MFUS	Weight in VONG	Overlap
	AAPL	C	0.68%	12.21%	0.68%
	ABBV	B	1.28%	0.54%	0.54%
	ADBE	B	0.04%	0.93%	0.04%
	ADP	B	0.08%	0.38%	0.08%
	ADSK	B	0.08%	0.2%	0.08%
	AJG	A	0.09%	0.02%	0.02%
	ALGN	F	0.02%	0.04%	0.02%
	ALL	B	0.35%	0.03%	0.03%
	ALLY	C	0.13%	0.01%	0.01%
	AMAT	F	0.48%	0.61%	0.48%
	AMGN	C	1.01%	0.53%	0.53%
	AMP	B	0.08%	0.15%	0.08%
	AMZN	D	1.22%	6.57%	1.22%
	ANET	D	0.13%	0.34%	0.13%
	APH	D	0.11%	0.17%	0.11%
	APO	D	0.11%	0.18%	0.11%
	APP	B	0.03%	0.08%	0.03%
	ARES	C	0.09%	0.1%	0.09%
	AVGO	D	1.42%	2.76%	1.42%
	AVY	B	0.1%	0.02%	0.02%
	AWI	C	0.03%	0.01%	0.01%
	AXP	B	0.19%	0.2%	0.19%
	AZO	B	0.29%	0.19%	0.19%
	BAH	B	0.14%	0.07%	0.07%
	BFAM	B	0.03%	0.0%	0.0%
	BKNG	C	0.47%	0.45%	0.45%
	BLD	D	0.03%	0.0%	0.0%
	BLDR	C	0.04%	0.01%	0.01%
	BR	C	0.15%	0.09%	0.09%
	BRKR	C	0.03%	0.02%	0.02%
	BRO	A	0.13%	0.04%	0.04%
	BURL	B	0.03%	0.06%	0.03%
	BWXT	C	0.08%	0.01%	0.01%
	BX	B	0.23%	0.38%	0.23%
	CACC	F	0.01%	0.01%	0.01%
	CAH	A	0.33%	0.06%	0.06%
	CASY	C	0.14%	0.01%	0.01%
	CAT	C	0.43%	0.09%	0.09%
	CC	F	0.02%	0.0%	0.0%
	CDW	D	0.05%	0.06%	0.05%
	CE	F	0.07%	0.02%	0.02%
	CEG	D	0.1%	0.04%	0.04%
	CHDN	D	0.02%	0.04%	0.02%
	CHE	C	0.06%	0.0%	0.0%
	CI	B	0.14%	0.03%	0.03%
	CL	A	0.32%	0.17%	0.17%
	CLX	A	0.14%	0.06%	0.06%
	CMG	D	0.22%	0.28%	0.22%
	CNM	F	0.01%	0.02%	0.01%
	COIN	F	0.07%	0.14%	0.07%
	COST	B	1.17%	1.38%	1.17%
	CPAY	B	0.05%	0.08%	0.05%
	CPNG	B	0.03%	0.09%	0.03%
	CPRT	D	0.2%	0.16%	0.16%
	CRM	D	0.34%	0.78%	0.34%
	CSL	C	0.02%	0.01%	0.01%
	CTAS	B	0.17%	0.24%	0.17%
	DASH	B	0.09%	0.13%	0.09%
	DECK	C	0.18%	0.09%	0.09%
	DELL	F	0.05%	0.02%	0.02%
	DKS	C	0.1%	0.0%	0.0%
	DPZ	D	0.17%	0.02%	0.02%
	DRI	A	0.02%	0.03%	0.02%
	DVA	B	0.17%	0.03%	0.03%
	ECL	B	0.08%	0.19%	0.08%
	EFX	B	0.09%	0.03%	0.03%
	ELV	B	0.08%	0.07%	0.07%
	EME	C	0.03%	0.03%	0.03%
	ENTG	D	0.04%	0.07%	0.04%
	EQH	C	0.07%	0.05%	0.05%
	EQIX	B	0.03%	0.02%	0.02%
	EXEL	B	0.02%	0.02%	0.02%
	EXP	B	0.05%	0.03%	0.03%
	EXPD	D	0.07%	0.01%	0.01%
	FAST	D	0.1%	0.13%	0.1%
	FDS	C	0.05%	0.02%	0.02%
	FICO	A	0.21%	0.12%	0.12%
	FIX	C	0.06%	0.04%	0.04%
	FND	C	0.03%	0.01%	0.01%
	FTNT	B	0.06%	0.11%	0.06%
	GDDY	C	0.1%	0.08%	0.08%
	GE	C	1.11%	0.15%	0.15%
	GEHC	B	0.02%	0.01%	0.01%
	GNRC	C	0.05%	0.02%	0.02%
	GOOGL	D	1.24%	3.81%	1.24%
	GS	C	0.48%	0.16%	0.16%
	GWRE	A	0.02%	0.02%	0.02%
	GWW	C	0.17%	0.14%	0.14%
	H	C	0.01%	0.0%	0.0%
	HCA	B	0.13%	0.06%	0.06%
	HD	B	0.38%	1.1%	0.38%
	HEI	B	0.04%	0.04%	0.04%
	HEI	B	0.04%	0.06%	0.04%
	HLI	B	0.08%	0.0%	0.0%
	HLT	C	0.08%	0.1%	0.08%
	HPQ	D	0.28%	0.03%	0.03%
	HRB	B	0.09%	0.01%	0.01%
	HSY	A	0.05%	0.02%	0.02%
	HWM	B	0.12%	0.01%	0.01%
	IDXX	D	0.05%	0.15%	0.05%
	INCY	C	0.01%	0.0%	0.0%
	INTU	D	0.25%	0.67%	0.25%
	IRM	B	0.11%	0.06%	0.06%
	IT	B	0.15%	0.14%	0.14%
	ITW	C	0.08%	0.1%	0.08%
	JBL	F	0.07%	0.0%	0.0%
	JEF	B	0.03%	0.01%	0.01%
	JLL	B	0.05%	0.01%	0.01%
	KBR	C	0.02%	0.0%	0.0%
	KKR	B	0.13%	0.09%	0.09%
	KLAC	D	0.26%	0.42%	0.26%
	KMB	A	0.16%	0.07%	0.07%
	KO	B	0.58%	0.56%	0.56%
	LAMR	B	0.05%	0.01%	0.01%
	LBRDK	C	0.02%	0.01%	0.01%
	LECO	F	0.08%	0.01%	0.01%
	LII	C	0.23%	0.07%	0.07%
	LLY	B	2.56%	2.59%	2.56%
	LMT	A	0.5%	0.14%	0.14%
	LNW	B	0.02%	0.04%	0.02%
	LOPE	D	0.05%	0.01%	0.01%
	LPLA	D	0.07%	0.06%	0.06%
	LPX	B	0.06%	0.02%	0.02%
	LRCX	F	0.3%	0.45%	0.3%
	LVS	D	0.01%	0.05%	0.01%
	LW	D	0.03%	0.01%	0.01%
	LYFT	F	0.01%	0.01%	0.01%
	MA	B	0.76%	1.45%	0.76%
	MANH	B	0.03%	0.06%	0.03%
	MASI	D	0.02%	0.01%	0.01%
	MCD	A	0.38%	0.05%	0.05%
	MCK	D	0.54%	0.13%	0.13%
	MCO	B	0.03%	0.27%	0.03%
	META	C	2.02%	3.93%	2.02%
	MKL	C	0.03%	0.02%	0.02%
	MKSI	F	0.01%	0.0%	0.0%
	MLM	D	0.06%	0.01%	0.01%
	MMC	A	0.18%	0.06%	0.06%
	MMM	B	0.41%	0.05%	0.05%
	MNST	D	0.05%	0.12%	0.05%
	MOH	C	0.03%	0.05%	0.03%
	MORN	C	0.03%	0.03%	0.03%
	MPWR	C	0.09%	0.15%	0.09%
	MRK	D	0.86%	1.08%	0.86%
	MSCI	B	0.07%	0.09%	0.07%
	MSI	B	0.15%	0.12%	0.12%
	MTDR	F	0.01%	0.0%	0.0%
	MTN	C	0.05%	0.02%	0.02%
	MUSA	B	0.16%	0.04%	0.04%
	NBIX	D	0.04%	0.05%	0.04%
	NFLX	B	0.44%	1.02%	0.44%
	NKE	C	0.04%	0.21%	0.04%
	NOW	B	0.35%	0.63%	0.35%
	NRG	C	0.07%	0.02%	0.02%
	NTAP	D	0.08%	0.04%	0.04%
	NVDA	D	1.71%	10.53%	1.71%
	NXST	D	0.05%	0.01%	0.01%
	ODFL	D	0.01%	0.16%	0.01%
	OKTA	F	0.03%	0.02%	0.02%
	ORCL	A	0.99%	0.83%	0.83%
	ORLY	B	0.18%	0.23%	0.18%
	PANW	B	0.26%	0.38%	0.26%
	PAYX	B	0.03%	0.06%	0.03%
	PEP	A	0.58%	0.71%	0.58%
	PG	A	0.82%	0.32%	0.32%
	PGR	A	0.49%	0.4%	0.4%
	PINS	F	0.04%	0.07%	0.04%
	POOL	C	0.06%	0.05%	0.05%
	PR	D	0.04%	0.01%	0.01%
	PSA	A	0.03%	0.03%	0.03%
	PSTG	F	0.04%	0.06%	0.04%
	PTC	D	0.05%	0.05%	0.05%
	PWR	C	0.14%	0.04%	0.04%
	QCOM	F	0.66%	0.72%	0.66%
	RCL	C	0.08%	0.05%	0.05%
	REGN	B	0.45%	0.04%	0.04%
	RLI	B	0.03%	0.0%	0.0%
	RMD	A	0.12%	0.03%	0.03%
	ROL	B	0.04%	0.05%	0.04%
	ROST	B	0.07%	0.04%	0.04%
	RPM	A	0.11%	0.01%	0.01%
	SAIA	D	0.03%	0.02%	0.02%
	SAM	D	0.02%	0.0%	0.0%
	SBUX	B	0.06%	0.26%	0.06%
	SCCO	D	0.01%	0.03%	0.01%
	SCHW	D	0.16%	0.04%	0.04%
	SEE	D	0.06%	0.0%	0.0%
	SHW	B	0.2%	0.28%	0.2%
	SKX	B	0.02%	0.0%	0.0%
	SMCI	F	0.15%	0.13%	0.13%
	SPG	B	0.14%	0.05%	0.05%
	SSD	D	0.03%	0.0%	0.0%
	SYY	A	0.07%	0.09%	0.07%
	TDC	F	0.02%	0.01%	0.01%
	TDG	B	0.16%	0.05%	0.05%
	TER	D	0.04%	0.07%	0.04%
	TJX	B	0.33%	0.29%	0.29%
	TPX	D	0.06%	0.03%	0.03%
	TREX	F	0.01%	0.03%	0.01%
	TRGP	A	0.13%	0.11%	0.11%
	TSCO	B	0.06%	0.11%	0.06%
	TTEK	B	0.01%	0.01%	0.01%
	TW	B	0.05%	0.02%	0.02%
	TXN	C	0.21%	0.08%	0.08%
	TXRH	D	0.05%	0.04%	0.04%
	TYL	A	0.07%	0.08%	0.07%
	UBER	B	0.22%	0.49%	0.22%
	UHAL	B	0.01%	0.0%	0.0%
	UHAL	B	0.03%	0.0%	0.0%
	UHAL	B	0.03%	0.01%	0.01%
	UHAL	B	0.01%	0.01%	0.01%
	ULTA	D	0.04%	0.06%	0.04%
	UNP	B	0.47%	0.27%	0.27%
	URI	C	0.09%	0.05%	0.05%
	V	A	0.8%	1.58%	0.8%
	VMC	D	0.06%	0.04%	0.04%
	VRSK	C	0.2%	0.14%	0.14%
	VRSN	C	0.04%	0.0%	0.0%
	VRTX	D	0.22%	0.24%	0.22%
	VST	C	0.28%	0.1%	0.1%
	VVV	D	0.03%	0.02%	0.02%
	WAT	B	0.05%	0.05%	0.05%
	WEN	C	0.05%	0.01%	0.01%
	WH	A	0.03%	0.0%	0.0%
	WM	D	0.23%	0.31%	0.23%
	WMS	D	0.02%	0.02%	0.02%
	WSM	D	0.21%	0.04%	0.04%
	WST	D	0.04%	0.05%	0.04%
	WU	C	0.08%	0.0%	0.0%
	XPO	D	0.04%	0.05%	0.04%
	YUM	B	0.1%	0.05%	0.05%
	ZTS	A	0.04%	0.26%	0.04%

MFUS Overweight 551 Positions Relative to VONG

	Symbol	Grade	Weight
	BRK.A	B	2.02%
	WMT	A	1.78%
	WFC	D	1.47%
	C	D	1.28%
	IBM	A	1.26%
	T	A	1.09%
	XOM	C	1.02%
	JNJ	B	0.98%
	JPM	B	0.96%
	VZ	B	0.93%
	CVX	F	0.82%
	CVS	F	0.78%
	GILD	A	0.73%
	MPC	D	0.68%
	TGT	B	0.68%
	GM	B	0.6%
	PSX	D	0.58%
	VLO	D	0.57%
	PM	A	0.53%
	PFE	D	0.5%
	MO	A	0.5%
	AIG	D	0.43%
	COF	C	0.43%
	CSCO	B	0.42%
	INTC	F	0.41%
	BAC	D	0.39%
	MET	B	0.36%
	KR	C	0.34%
	F	D	0.34%
	ADM	D	0.32%
	COP	D	0.32%
	EBAY	A	0.32%
	SYF	C	0.31%
	TMUS	B	0.31%
	ANF	D	0.29%
	TRV	A	0.29%
	ICE	A	0.28%
	THC	B	0.28%
	BMY	B	0.27%
	DHR	B	0.26%
	BK	B	0.26%
	CHTR	C	0.25%
	PRU	C	0.25%
	HPE	D	0.24%
	CMCSA	C	0.24%
	BBY	A	0.24%
	LOW	B	0.23%
	LYB	D	0.22%
	DD	C	0.22%
	NOC	B	0.22%
	TSN	A	0.22%
	MDLZ	A	0.2%
	WSO	D	0.2%
	ETN	D	0.19%
	AFL	B	0.19%
	LHX	C	0.19%
	SFM	B	0.19%
	GLW	C	0.19%
	CME	A	0.19%
	UPS	F	0.18%
	BSX	A	0.18%
	ACN	A	0.18%
	AON	A	0.18%
	BKR	D	0.17%
	UTHR	B	0.17%
	MU	F	0.16%
	PHM	B	0.16%
	GD	B	0.16%
	CB	A	0.15%
	EMR	D	0.15%
	WDC	D	0.15%
	KHC	A	0.15%
	VTRS	C	0.14%
	WBA	F	0.14%
	DUK	A	0.13%
	PH	B	0.13%
	STE	A	0.12%
	EVR	B	0.12%
	IP	B	0.12%
	CARR	B	0.12%
	RSG	B	0.12%
	JNPR	A	0.12%
	WELL	A	0.11%
	MRO	C	0.11%
	CRS	B	0.11%
	EXC	A	0.11%
	AOS	D	0.11%
	EOG	D	0.11%
	USB	B	0.11%
	XYL	D	0.11%
	CMI	B	0.11%
	MAR	D	0.11%
	FTI	D	0.11%
	UHS	B	0.1%
	K	A	0.1%
	NEM	B	0.1%
	FCX	D	0.1%
	JXN	C	0.1%
	GPK	B	0.1%
	JKHY	B	0.1%
	PNC	B	0.1%
	TOL	B	0.1%
	UNM	B	0.1%
	GIS	A	0.1%
	HUBB	C	0.09%
	USFD	B	0.09%
	CW	B	0.09%
	CHRW	B	0.09%
	IR	D	0.09%
	BDX	D	0.09%
	EA	C	0.09%
	AN	C	0.09%
	GPI	B	0.09%
	AEO	D	0.09%
	TFC	B	0.09%
	SLB	F	0.09%
	CACI	B	0.09%
	TROW	D	0.08%
	MTD	C	0.08%
	BIIB	D	0.08%
	LUMN	B	0.08%
	OKE	A	0.08%
	PCAR	D	0.08%
	TTC	D	0.08%
	WMB	B	0.08%
	DFS	C	0.08%
	DLR	D	0.08%
	WCC	D	0.08%
	EHC	B	0.08%
	MTH	B	0.08%
	NUE	F	0.08%
	TAP	C	0.08%
	FOXA	B	0.08%
	LEN	B	0.08%
	KMI	B	0.08%
	ALSN	B	0.08%
	LDOS	B	0.08%
	LSTR	D	0.08%
	OGN	C	0.08%
	ITT	C	0.08%
	RS	D	0.08%
	TMHC	B	0.08%
	CSX	D	0.08%
	ERIE	A	0.08%
	L	B	0.08%
	PNR	B	0.08%
	IEX	D	0.08%
	GNTX	D	0.07%
	CFG	B	0.07%
	HCC	F	0.07%
	TEX	D	0.07%
	MLI	B	0.07%
	OTIS	D	0.07%
	NWSA	C	0.07%
	SLG	B	0.07%
	CALM	B	0.07%
	NVR	B	0.07%
	THO	C	0.07%
	SEIC	D	0.07%
	GLPI	A	0.07%
	UFPI	D	0.07%
	FCN	C	0.07%
	ATR	A	0.07%
	ARW	B	0.07%
	CMC	D	0.07%
	OC	D	0.07%
	X	F	0.07%
	EXR	B	0.07%
	BALL	A	0.07%
	MKC	A	0.07%
	OSK	D	0.07%
	IPG	B	0.07%
	ABG	D	0.07%
	AYI	C	0.07%
	AIZ	B	0.07%
	TTWO	B	0.07%
	FIS	A	0.07%
	ANSS	D	0.06%
	KTB	B	0.06%
	VNO	B	0.06%
	TPH	B	0.06%
	KD	D	0.06%
	CPT	B	0.06%
	BERY	B	0.06%
	MAS	B	0.06%
	IVZ	C	0.06%
	CRI	C	0.06%
	OMC	B	0.06%
	EMN	C	0.06%
	MMS	C	0.06%
	MSM	D	0.06%
	INGR	A	0.06%
	SCI	B	0.06%
	SPGI	A	0.06%
	FLEX	C	0.06%
	ROP	C	0.06%
	BC	D	0.06%
	INVH	B	0.06%
	PK	D	0.06%
	R	C	0.06%
	CHD	A	0.06%
	KDP	A	0.06%
	FL	D	0.06%
	BCC	C	0.06%
	NSIT	C	0.06%
	SLM	D	0.06%
	CNX	B	0.06%
	PBF	F	0.06%
	DGX	B	0.06%
	CCK	A	0.06%
	CCL	D	0.05%
	VIRT	A	0.05%
	AMG	C	0.05%
	COOP	B	0.05%
	SIG	F	0.05%
	WTW	A	0.05%
	M	F	0.05%
	CBT	B	0.05%
	SKYW	D	0.05%
	FANG	D	0.05%
	PKG	B	0.05%
	NOV	F	0.05%
	AVT	C	0.05%
	ATGE	C	0.05%
	WPC	A	0.05%
	BWA	D	0.05%
	ATI	C	0.05%
	RGA	B	0.05%
	TKR	D	0.05%
	PAG	C	0.05%
	NYT	C	0.05%
	SUI	A	0.05%
	CRUS	C	0.05%
	MUR	F	0.05%
	A	B	0.05%
	POST	B	0.05%
	LNC	C	0.05%
	G	B	0.05%
	IBKR	B	0.05%
	PEG	B	0.05%
	SANM	D	0.05%
	DG	F	0.05%
	URBN	D	0.05%
	KSS	F	0.05%
	FITB	B	0.05%
	FCNCA	C	0.05%
	MHO	B	0.05%
	HIG	B	0.05%
	CTVA	B	0.04%
	GT	F	0.04%
	FHI	B	0.04%
	APG	D	0.04%
	APLE	F	0.04%
	GEO	D	0.04%
	COLD	B	0.04%
	OI	C	0.04%
	VSH	F	0.04%
	ELS	A	0.04%
	AROC	D	0.04%
	AMH	A	0.04%
	XRAY	D	0.04%
	WTM	B	0.04%
	OMF	D	0.04%
	SON	A	0.04%
	HUBG	B	0.04%
	SEB	C	0.04%
	AGNC	A	0.04%
	RGLD	C	0.04%
	OLN	F	0.04%
	FLO	A	0.04%
	GATX	C	0.04%
	GVA	B	0.04%
	VC	F	0.04%
	FFIV	B	0.04%
	SRCL	A	0.04%
	CNO	B	0.04%
	AR	F	0.04%
	HAL	F	0.04%
	RRC	F	0.04%
	GNW	B	0.04%
	MAN	D	0.04%
	CRBG	C	0.04%
	MTG	B	0.04%
	PVH	F	0.04%
	THG	A	0.04%
	LANC	D	0.04%
	STZ	B	0.04%
	DCI	C	0.04%
	GGG	D	0.04%
	HXL	F	0.04%
	MOG.A	C	0.04%
	CUBE	A	0.04%
	KBH	B	0.04%
	WHR	D	0.04%
	CAG	A	0.04%
	MOS	F	0.04%
	NFG	B	0.04%
	NDSN	C	0.04%
	ACM	B	0.04%
	ABM	C	0.04%
	DOW	D	0.04%
	WAB	B	0.04%
	PPG	D	0.04%
	STLD	D	0.04%
	CLH	C	0.04%
	BDC	B	0.04%
	SMG	C	0.04%
	BEN	F	0.04%
	MAC	B	0.04%
	BTU	D	0.04%
	SLGN	B	0.04%
	FNF	B	0.03%
	ADNT	F	0.03%
	HOOD	D	0.03%
	CTRA	F	0.03%
	NVT	F	0.03%
	TXT	D	0.03%
	COKE	B	0.03%
	FR	B	0.03%
	SJM	A	0.03%
	AKAM	D	0.03%
	MATX	C	0.03%
	HBAN	B	0.03%
	ZION	C	0.03%
	UDR	B	0.03%
	PRG	B	0.03%
	MC	B	0.03%
	DK	F	0.03%
	MDU	D	0.03%
	BKU	B	0.03%
	YELP	F	0.03%
	GBX	D	0.03%
	MTB	B	0.03%
	DBRG	F	0.03%
	SHOO	C	0.03%
	TFX	A	0.03%
	NAVI	C	0.03%
	BJ	D	0.03%
	WTS	D	0.03%
	AVA	B	0.03%
	DLB	F	0.03%
	HP	F	0.03%
	DLTR	F	0.03%
	RPRX	B	0.03%
	PRIM	C	0.03%
	LSXMK	C	0.03%
	HBI	B	0.03%
	HOLX	A	0.03%
	HSIC	C	0.03%
	RUSHA	C	0.03%
	DOX	C	0.03%
	ASO	C	0.03%
	SM	D	0.03%
	TRN	C	0.03%
	SBH	B	0.03%
	TDS	B	0.03%
	AVTR	B	0.03%
	PDCO	F	0.03%
	SEM	D	0.03%
	SLVM	B	0.03%
	IFF	A	0.03%
	AMKR	F	0.03%
	DINO	F	0.03%
	MSA	D	0.03%
	LEA	F	0.03%
	DDS	D	0.03%
	AES	D	0.03%
	CMA	B	0.03%
	JHG	B	0.03%
	JWN	A	0.03%
	CVLT	B	0.03%
	BAX	A	0.03%
	ACA	D	0.03%
	TGNA	D	0.03%
	BHF	D	0.03%
	RL	A	0.03%
	GMS	D	0.03%
	VFC	B	0.02%
	DNOW	D	0.02%
	PTEN	F	0.02%
	DAN	F	0.02%
	NWL	A	0.02%
	BXP	A	0.02%
	PARA	F	0.02%
	LEG	D	0.02%
	SNDR	B	0.02%
	RHI	D	0.02%
	APOG	C	0.02%
	LXP	B	0.02%
	DORM	B	0.02%
	HNI	B	0.02%
	EWBC	C	0.02%
	ODP	F	0.02%
	HST	D	0.02%
	ANDE	D	0.02%
	OSIS	C	0.02%
	IGT	C	0.02%
	SNAP	F	0.02%
	GES	F	0.02%
	BMRN	D	0.02%
	DOV	C	0.02%
	DXC	A	0.02%
	AGCO	F	0.02%
	AIT	C	0.02%
	PMT	C	0.02%
	MKTX	A	0.02%
	GPC	D	0.02%
	BBWI	F	0.02%
	XRX	D	0.02%
	CINF	B	0.02%
	MCY	B	0.02%
	XHR	D	0.02%
	PSN	B	0.02%
	SXT	C	0.02%
	VSTO	C	0.02%
	GHC	C	0.02%
	NTCT	C	0.02%
	PFSI	A	0.02%
	NSP	F	0.02%
	HAE	F	0.02%
	AA	F	0.02%
	CTLT	A	0.02%
	EPC	C	0.02%
	AIR	D	0.02%
	RLJ	F	0.02%
	GEF	D	0.02%
	REZI	D	0.02%
	GMED	C	0.02%
	FAF	A	0.02%
	JBHT	C	0.02%
	CG	D	0.02%
	PNM	A	0.02%
	ORA	C	0.02%
	KMPR	C	0.02%
	FLS	C	0.02%
	CXW	D	0.02%
	KEY	B	0.02%
	HII	B	0.02%
	APAM	D	0.02%
	WERN	D	0.02%
	PINC	A	0.02%
	PLXS	B	0.02%
	BKE	B	0.02%
	WRB	B	0.02%
	COHR	C	0.02%
	AXTA	C	0.02%
	LZB	C	0.02%
	NDAQ	A	0.02%
	NTRS	B	0.02%
	DRH	D	0.02%
	RYN	B	0.02%
	THS	A	0.02%
	STC	B	0.02%
	CHRD	F	0.02%
	UNF	C	0.02%
	SHO	D	0.02%
	NEU	D	0.02%
	VNT	F	0.02%
	SBAC	A	0.02%
	HOG	B	0.02%
	KNX	D	0.01%
	AAP	F	0.01%
	SCHL	D	0.01%
	UAL	C	0.01%
	SCL	D	0.01%
	JAZZ	D	0.01%
	ARCH	F	0.01%
	TPR	B	0.01%
	HELE	D	0.01%
	SWN	F	0.01%
	KALU	F	0.01%
	ACI	D	0.01%
	UVV	B	0.01%
	ECPG	C	0.01%
	WGO	D	0.01%
	HUN	D	0.01%
	ESI	D	0.01%
	SWX	D	0.01%
	ELAN	B	0.01%
	HRL	A	0.01%
	QRVO	D	0.01%
	WOR	F	0.01%
	SIGI	D	0.01%
	JELD	F	0.01%
	PFG	D	0.01%
	MLKN	D	0.01%
	JBGS	B	0.01%
	HPP	D	0.01%
	AFG	A	0.01%
	AMED	B	0.01%
	DY	D	0.01%
	BECN	D	0.01%
	WMK	B	0.01%
	ESAB	D	0.01%
	PECO	A	0.01%
	WAFD	B	0.01%
	BRC	B	0.01%
	ARCB	F	0.01%
	CENTA	D	0.01%
	SAIC	B	0.01%
	CPRI	C	0.01%
	DTM	B	0.01%
	SYNA	F	0.01%
	SPB	B	0.01%
	FYBR	A	0.01%
	FHN	C	0.01%
	CPB	A	0.01%
	WTFC	B	0.01%
	FELE	D	0.01%
	CADE	C	0.01%
	CBSH	B	0.01%
	FLR	C	0.01%
	STRA	D	0.01%
	CSGS	C	0.01%
	ONB	C	0.01%
	KN	D	0.01%
	SF	C	0.01%
	CR	C	0.01%
	CBRL	F	0.01%
	DEI	B	0.01%
	TTMI	D	0.01%
	WWD	D	0.01%
	SATS	A	0.01%
	WBS	D	0.01%
	OLLI	D	0.01%
	AMWD	D	0.01%
	LAUR	C	0.01%
	MHK	B	0.01%
	NNI	B	0.01%
	RBC	C	0.01%
	LADR	B	0.01%
	OMI	C	0.01%
	GOLF	C	0.01%
	IOSP	D	0.01%
	KEX	D	0.01%
	PSMT	B	0.01%
	CVI	F	0.01%
	CWEN	B	0.01%
	ESNT	B	0.01%
	RJF	D	0.01%
	BHE	C	0.01%
	SNV	C	0.01%
	TNET	F	0.01%
	SAH	C	0.01%
	EVRG	A	0.01%
	LAD	C	0.01%
	WAL	B	0.01%
	PHIN	B	0.01%
	SCS	C	0.01%
	NOMD	A	0.0%
	WOLF	F	0.0%

MFUS Underweight 155 Positions Relative to VONG

	Symbol	Grade	Weight
	MSFT	D	-11.77%
	GOOG	D	-3.22%
	TSLA	D	-2.44%
	ISRG	B	-0.59%
	AMD	F	-0.58%
	AMT	A	-0.39%
	SNPS	D	-0.32%
	CDNS	D	-0.28%
	ABNB	F	-0.23%
	PLTR	B	-0.2%
	SPOT	C	-0.19%
	CRWD	F	-0.19%
	WDAY	C	-0.18%
	SNOW	F	-0.16%
	NU	B	-0.15%
	TTD	B	-0.15%
	UNH	A	-0.14%
	DDOG	D	-0.13%
	SYK	A	-0.13%
	LULU	F	-0.12%
	VRT	F	-0.11%
	VEEV	A	-0.11%
	TT	B	-0.1%
	ALNY	C	-0.1%
	DXCM	F	-0.1%
	TEAM	F	-0.1%
	HES	F	-0.1%
	NET	F	-0.09%
	HUBS	F	-0.09%
	HON	D	-0.08%
	RBLX	B	-0.08%
	LNG	B	-0.08%
	AXON	B	-0.08%
	BA	F	-0.07%
	ENPH	D	-0.06%
	LYV	D	-0.06%
	TPL	C	-0.06%
	EXPE	C	-0.06%
	ZS	F	-0.06%
	DKNG	D	-0.06%
	MDB	C	-0.06%
	SRPT	D	-0.05%
	PODD	A	-0.05%
	SQ	D	-0.05%
	OWL	D	-0.04%
	MEDP	D	-0.04%
	KNSL	B	-0.04%
	WING	C	-0.04%
	DOCU	A	-0.04%
	DT	A	-0.04%
	NTRA	B	-0.04%
	TOST	D	-0.04%
	VLTO	B	-0.04%
	IONS	D	-0.03%
	BSY	D	-0.03%
	MS	C	-0.03%
	EW	F	-0.03%
	PCOR	F	-0.03%
	HAS	B	-0.03%
	NCLH	D	-0.03%
	ITCI	C	-0.03%
	CELH	F	-0.03%
	EL	F	-0.03%
	WFRD	F	-0.03%
	ESTC	F	-0.03%
	ELF	F	-0.03%
	PATH	D	-0.02%
	FOUR	B	-0.02%
	APLS	C	-0.02%
	INSP	A	-0.02%
	AZEK	D	-0.02%
	MRVL	D	-0.02%
	APPF	D	-0.02%
	CVNA	C	-0.02%
	ETSY	F	-0.02%
	IQV	B	-0.02%
	OLED	D	-0.02%
	PAYC	D	-0.02%
	VKTX	C	-0.02%
	AAON	C	-0.02%
	CFLT	F	-0.02%
	GTLB	C	-0.02%
	SMAR	A	-0.02%
	PEN	C	-0.02%
	GLOB	C	-0.02%
	LSCC	F	-0.02%
	RYAN	B	-0.02%
	DUOL	B	-0.02%
	PCTY	C	-0.02%
	RGEN	C	-0.01%
	BROS	D	-0.01%
	CROX	C	-0.01%
	TXG	D	-0.01%
	PFGC	B	-0.01%
	MSTR	F	-0.01%
	NCNO	D	-0.01%
	DV	F	-0.01%
	FRPT	B	-0.01%
	DBX	D	-0.01%
	AM	C	-0.01%
	CIVI	F	-0.01%
	TWLO	D	-0.01%
	U	D	-0.01%
	WSC	D	-0.01%
	CLF	F	-0.01%
	ONTO	D	-0.01%
	SITE	C	-0.01%
	HCP	B	-0.01%
	EG	B	-0.01%
	RNG	D	-0.01%
	ROK	D	-0.01%
	CERE	A	-0.01%
	PEGA	B	-0.01%
	CHH	C	-0.01%
	FIVE	F	-0.01%
	FIVN	F	-0.01%
	EXAS	B	-0.01%
	PLNT	A	-0.01%
	NTNX	A	-0.01%
	ZBRA	C	-0.01%
	RARE	B	-0.01%
	PYCR	C	-0.0%
	TRIP	F	-0.0%
	PPC	B	-0.0%
	FTRE	F	-0.0%
	DOCS	B	-0.0%
	LBRDA	C	-0.0%
	MSGS	B	-0.0%
	IRDM	D	-0.0%
	UI	B	-0.0%
	CGNX	D	-0.0%
	AAL	C	-0.0%
	SPR	D	-0.0%
	UWMC	B	-0.0%
	WYNN	D	-0.0%
	NFE	F	-0.0%
	CAR	F	-0.0%
	XP	C	-0.0%
	WEX	C	-0.0%
	EPAM	C	-0.0%
	BPOP	B	-0.0%
	S	D	-0.0%
	RH	F	-0.0%
	KMX	C	-0.0%
	DAY	C	-0.0%
	TRU	B	-0.0%
	SN	A	-0.0%
	DJT	F	-0.0%
	YETI	D	-0.0%
	TPG	B	-0.0%
	ROKU	C	-0.0%
	TKO	B	-0.0%
	SOFI	D	-0.0%
	EQT	D	-0.0%
	BILL	C	-0.0%

MFUS: Top Represented Industries & Keywords

Industries: Diversified Industrials Asset Management Banks - Regional - US Software - Application Business Services Packaged Foods Specialty Chemicals Specialty Retail Building Materials Capital Markets Insurance - Property & Casualty Oil & Gas E&P Aerospace & Defense Credit Services Packaging & Containers Engineering & Construction Information Technology Services Semiconductors Medical Instruments & Supplies REIT - Diversified

Keywords: S&P 500 Nasdaq 100 Insurance Chemical Aerospace Computing Mining Natural Gas Electronics Bank Banking Real Estate Investment Trust Telecommunications Transport Building Materials Construction Retailing Beverage Dow Jones Component Plastic

VONG: Top Represented Industries & Keywords

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

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