MFUS vs. VYM ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to Vanguard High Dividend Yield ETF - DNQ (VYM)

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

$51.69

Average Daily Volume

5,721

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

VYM

Vanguard High Dividend Yield ETF - DNQ

VYM Description

The investment seeks to track the performance of a benchmark index that measures the investment return of common stocks of companies that are characterized by high dividend yield. The fund employs an indexing investment approach designed to track the performance of the FTSE® High Dividend Yield Index, which consists of common stocks of companies that pay dividends that generally are higher than average. 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

$131.75

Average Daily Volume

765,871

Number of Holdings ^*

530

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	VYM
30 Days	1.43%	1.26%
60 Days	5.39%	5.25%
90 Days	8.66%	8.96%
12 Months	36.24%	32.54%

336 Overlapping Holdings

	Symbol	Grade	Weight in MFUS	Weight in VYM	Overlap
	AAP	D	0.01%	0.01%	0.01%
	ABBV	D	1.65%	1.97%	1.65%
	ABM	B	0.04%	0.02%	0.02%
	ACI	C	0.01%	0.04%	0.01%
	ADM	F	0.24%	0.16%	0.16%
	ADP	A	0.11%	0.64%	0.11%
	AEP	D	0.08%	0.31%	0.08%
	AES	F	0.01%	0.08%	0.01%
	AFL	C	0.21%	0.35%	0.21%
	AGCO	F	0.02%	0.03%	0.02%
	AIG	C	0.36%	0.27%	0.27%
	AIZ	A	0.08%	0.06%	0.06%
	ALL	A	0.25%	0.28%	0.25%
	ALLY	C	0.05%	0.06%	0.05%
	AMGN	F	1.03%	0.97%	0.97%
	AMP	A	0.17%	0.27%	0.17%
	APAM	B	0.03%	0.02%	0.02%
	APOG	B	0.02%	0.01%	0.01%
	ARCH	B	0.01%	0.01%	0.01%
	ARES	B	0.09%	0.16%	0.09%
	AROC	B	0.04%	0.02%	0.02%
	ATO	A	0.02%	0.12%	0.02%
	AVA	D	0.03%	0.02%	0.02%
	AVGO	B	1.63%	4.42%	1.63%
	AVT	C	0.04%	0.03%	0.03%
	BAC	A	0.42%	1.52%	0.42%
	BAX	F	0.05%	0.11%	0.05%
	BBWI	C	0.01%	0.04%	0.01%
	BBY	D	0.22%	0.13%	0.13%
	BC	D	0.06%	0.03%	0.03%
	BEN	C	0.02%	0.03%	0.02%
	BERY	C	0.06%	0.04%	0.04%
	BFH	B	0.05%	0.01%	0.01%
	BHE	B	0.02%	0.01%	0.01%
	BK	B	0.18%	0.3%	0.18%
	BKE	A	0.03%	0.01%	0.01%
	BKR	B	0.07%	0.2%	0.07%
	BKU	B	0.03%	0.02%	0.02%
	BMY	B	0.4%	0.59%	0.4%
	BTU	C	0.06%	0.02%	0.02%
	BX	B	0.12%	0.61%	0.12%
	C	B	0.65%	0.68%	0.65%
	CADE	B	0.01%	0.03%	0.01%
	CAG	F	0.04%	0.09%	0.04%
	CAH	B	0.25%	0.15%	0.15%
	CALM	A	0.09%	0.02%	0.02%
	CAT	B	0.2%	1.08%	0.2%
	CB	D	0.16%	0.66%	0.16%
	CBSH	A	0.01%	0.04%	0.01%
	CBT	B	0.05%	0.03%	0.03%
	CC	D	0.02%	0.02%	0.02%
	CE	F	0.04%	0.07%	0.04%
	CFG	B	0.04%	0.1%	0.04%
	CFR	B	0.01%	0.04%	0.01%
	CG	B	0.03%	0.05%	0.03%
	CHRW	B	0.13%	0.07%	0.07%
	CI	D	0.13%	0.54%	0.13%
	CINF	A	0.02%	0.12%	0.02%
	CL	F	0.37%	0.48%	0.37%
	CLX	B	0.13%	0.09%	0.09%
	CMA	B	0.04%	0.04%	0.04%
	CMCSA	B	0.16%	0.9%	0.16%
	CME	B	0.14%	0.45%	0.14%
	CMI	B	0.13%	0.25%	0.13%
	CMS	D	0.03%	0.12%	0.03%
	CNO	B	0.04%	0.02%	0.02%
	CNS	B	0.01%	0.01%	0.01%
	COP	C	0.07%	0.7%	0.07%
	CPB	F	0.05%	0.05%	0.05%
	CRBG	C	0.05%	0.04%	0.04%
	CRI	F	0.05%	0.01%	0.01%
	CRS	B	0.1%	0.04%	0.04%
	CSCO	A	0.65%	1.22%	0.65%
	CSGS	B	0.01%	0.01%	0.01%
	CVI	F	0.01%	0.0%	0.0%
	CVS	F	0.66%	0.45%	0.45%
	CVX	B	0.39%	1.39%	0.39%
	CWEN	D	0.01%	0.01%	0.01%
	CWEN	D	0.01%	0.01%	0.01%
	D	D	0.07%	0.27%	0.07%
	DAN	F	0.01%	0.01%	0.01%
	DD	D	0.1%	0.21%	0.1%
	DDS	C	0.03%	0.01%	0.01%
	DFS	B	0.09%	0.2%	0.09%
	DGX	A	0.09%	0.1%	0.09%
	DINO	D	0.01%	0.04%	0.01%
	DK	D	0.02%	0.01%	0.01%
	DKS	D	0.08%	0.07%	0.07%
	DOW	F	0.02%	0.22%	0.02%
	DOX	A	0.04%	0.06%	0.04%
	DRI	B	0.03%	0.11%	0.03%
	DTE	D	0.02%	0.15%	0.02%
	DTM	A	0.01%	0.04%	0.01%
	DUK	D	0.14%	0.5%	0.14%
	EBAY	D	0.36%	0.19%	0.19%
	ED	D	0.06%	0.2%	0.06%
	EIX	D	0.05%	0.19%	0.05%
	EMN	D	0.04%	0.07%	0.04%
	EMR	A	0.08%	0.35%	0.08%
	EQH	B	0.08%	0.08%	0.08%
	ES	F	0.04%	0.13%	0.04%
	ESNT	D	0.01%	0.04%	0.01%
	ETR	B	0.05%	0.16%	0.05%
	EVR	B	0.12%	0.05%	0.05%
	EVRG	A	0.02%	0.08%	0.02%
	EWBC	A	0.02%	0.06%	0.02%
	EXC	D	0.07%	0.23%	0.07%
	F	C	0.15%	0.23%	0.15%
	FAF	D	0.02%	0.04%	0.02%
	FANG	D	0.05%	0.18%	0.05%
	FAST	B	0.13%	0.23%	0.13%
	FDP	B	0.01%	0.01%	0.01%
	FE	D	0.03%	0.14%	0.03%
	FHN	B	0.01%	0.05%	0.01%
	FIS	C	0.08%	0.27%	0.08%
	FITB	A	0.04%	0.16%	0.04%
	FLO	F	0.04%	0.02%	0.02%
	FNF	C	0.03%	0.09%	0.03%
	FOXA	A	0.11%	0.05%	0.05%
	GAP	C	0.06%	0.02%	0.02%
	GATX	B	0.04%	0.03%	0.03%
	GBX	A	0.04%	0.01%	0.01%
	GD	A	0.25%	0.47%	0.25%
	GEF	A	0.02%	0.01%	0.01%
	GEN	A	0.1%	0.08%	0.08%
	GES	F	0.01%	0.0%	0.0%
	GILD	B	0.87%	0.59%	0.59%
	GIS	F	0.19%	0.23%	0.19%
	GLW	B	0.21%	0.2%	0.2%
	GS	B	0.36%	0.88%	0.36%
	HBAN	A	0.03%	0.12%	0.03%
	HD	B	0.62%	2.27%	0.62%
	HIG	C	0.06%	0.19%	0.06%
	HII	D	0.02%	0.06%	0.02%
	HLI	B	0.08%	0.05%	0.05%
	HNI	B	0.02%	0.01%	0.01%
	HOG	F	0.02%	0.03%	0.02%
	HP	C	0.02%	0.02%	0.02%
	HPE	B	0.11%	0.15%	0.11%
	HPQ	B	0.29%	0.2%	0.2%
	HRB	D	0.08%	0.05%	0.05%
	HRL	F	0.02%	0.05%	0.02%
	HSY	D	0.06%	0.16%	0.06%
	HTH	B	0.01%	0.01%	0.01%
	HUBB	B	0.03%	0.13%	0.03%
	HUN	F	0.0%	0.02%	0.0%
	IBM	D	1.07%	1.05%	1.05%
	IFF	F	0.03%	0.15%	0.03%
	IGT	D	0.01%	0.01%	0.01%
	INGR	B	0.06%	0.05%	0.05%
	IP	B	0.09%	0.1%	0.09%
	IPG	F	0.04%	0.07%	0.04%
	ITW	B	0.1%	0.44%	0.1%
	IVZ	C	0.03%	0.04%	0.03%
	JCI	B	0.06%	0.29%	0.06%
	JEF	B	0.02%	0.06%	0.02%
	JHG	B	0.04%	0.03%	0.03%
	JNJ	F	1.27%	2.21%	1.27%
	JNPR	C	0.14%	0.07%	0.07%
	JPM	B	0.93%	3.41%	0.93%
	JWN	B	0.04%	0.01%	0.01%
	JXN	B	0.1%	0.04%	0.04%
	K	A	0.15%	0.12%	0.12%
	KALU	B	0.01%	0.01%	0.01%
	KDP	D	0.07%	0.22%	0.07%
	KEY	B	0.02%	0.09%	0.02%
	KHC	F	0.16%	0.18%	0.16%
	KMB	F	0.17%	0.27%	0.17%
	KMI	A	0.1%	0.24%	0.1%
	KMPR	A	0.02%	0.02%	0.02%
	KO	F	1.07%	1.57%	1.07%
	KR	A	0.37%	0.21%	0.21%
	KSS	F	0.02%	0.01%	0.01%
	KTB	B	0.06%	0.03%	0.03%
	LANC	B	0.04%	0.02%	0.02%
	LEA	F	0.01%	0.03%	0.01%
	LEG	F	0.02%	0.01%	0.01%
	LHX	B	0.27%	0.25%	0.25%
	LMT	D	0.78%	0.7%	0.7%
	LNC	B	0.03%	0.03%	0.03%
	LNT	C	0.02%	0.09%	0.02%
	LOW	B	0.36%	0.87%	0.36%
	LYB	F	0.16%	0.14%	0.14%
	LZB	C	0.02%	0.01%	0.01%
	M	D	0.02%	0.02%	0.02%
	MAN	F	0.03%	0.02%	0.02%
	MC	B	0.03%	0.03%	0.03%
	MCD	D	0.54%	1.24%	0.54%
	MCY	B	0.02%	0.01%	0.01%
	MDLZ	F	0.24%	0.56%	0.24%
	MDU	F	0.02%	0.03%	0.02%
	MET	C	0.32%	0.27%	0.27%
	MKC	D	0.06%	0.12%	0.06%
	MLKN	D	0.01%	0.01%	0.01%
	MMM	D	0.58%	0.43%	0.43%
	MO	A	0.73%	0.49%	0.49%
	MOS	D	0.01%	0.05%	0.01%
	MPC	D	0.32%	0.32%	0.32%
	MRK	F	0.89%	1.62%	0.89%
	MRO	B	0.03%	0.08%	0.03%
	MS	A	0.2%	0.68%	0.2%
	MSM	B	0.06%	0.02%	0.02%
	MTB	B	0.04%	0.17%	0.04%
	MTG	D	0.02%	0.04%	0.02%
	MTN	D	0.05%	0.04%	0.04%
	MUR	F	0.01%	0.03%	0.01%
	NAVI	C	0.02%	0.01%	0.01%
	NEE	D	0.24%	0.98%	0.24%
	NEM	F	0.18%	0.35%	0.18%
	NFG	C	0.05%	0.03%	0.03%
	NI	A	0.02%	0.09%	0.02%
	NOMD	F	0.0%	0.01%	0.0%
	NRG	B	0.07%	0.11%	0.07%
	NSC	B	0.07%	0.32%	0.07%
	NSP	F	0.02%	0.02%	0.02%
	NTAP	C	0.1%	0.14%	0.1%
	NTRS	A	0.03%	0.1%	0.03%
	NWL	B	0.02%	0.02%	0.02%
	NXST	C	0.06%	0.03%	0.03%
	OGN	F	0.05%	0.03%	0.03%
	OKE	A	0.09%	0.3%	0.09%
	OMC	B	0.06%	0.11%	0.06%
	OMF	B	0.03%	0.03%	0.03%
	ONB	A	0.01%	0.03%	0.01%
	OSK	B	0.03%	0.04%	0.03%
	PAG	C	0.02%	0.02%	0.02%
	PARA	C	0.01%	0.03%	0.01%
	PAYX	B	0.04%	0.24%	0.04%
	PB	A	0.01%	0.04%	0.01%
	PBF	F	0.02%	0.02%	0.02%
	PDCO	D	0.02%	0.01%	0.01%
	PEG	D	0.06%	0.25%	0.06%
	PEP	F	0.76%	1.32%	0.76%
	PFE	F	0.62%	0.93%	0.62%
	PFG	C	0.01%	0.11%	0.01%
	PG	D	1.03%	2.31%	1.03%
	PGR	B	0.57%	0.84%	0.57%
	PHIN	B	0.02%	0.01%	0.01%
	PINC	B	0.02%	0.01%	0.01%
	PKG	B	0.1%	0.11%	0.1%
	PM	C	0.92%	1.06%	0.92%
	PNC	A	0.11%	0.41%	0.11%
	PNM	B	0.02%	0.02%	0.02%
	PNW	B	0.01%	0.06%	0.01%
	PPG	F	0.05%	0.17%	0.05%
	PPL	A	0.04%	0.14%	0.04%
	PRU	B	0.23%	0.25%	0.23%
	PSX	D	0.22%	0.31%	0.22%
	PTEN	D	0.01%	0.02%	0.01%
	QCOM	F	0.8%	1.07%	0.8%
	R	B	0.07%	0.03%	0.03%
	RDN	C	0.01%	0.03%	0.01%
	RF	A	0.02%	0.12%	0.02%
	RGA	A	0.06%	0.08%	0.06%
	RHI	B	0.02%	0.04%	0.02%
	RL	B	0.03%	0.04%	0.03%
	RLI	A	0.03%	0.04%	0.03%
	RPM	B	0.13%	0.09%	0.09%
	RPRX	F	0.03%	0.06%	0.03%
	RRC	B	0.02%	0.04%	0.02%
	RS	B	0.04%	0.09%	0.04%
	RTX	C	0.22%	0.91%	0.22%
	SBUX	B	0.1%	0.62%	0.1%
	SCCO	D	0.0%	0.06%	0.0%
	SCS	C	0.01%	0.01%	0.01%
	SEE	C	0.06%	0.03%	0.03%
	SEM	B	0.04%	0.02%	0.02%
	SF	A	0.01%	0.05%	0.01%
	SHOO	D	0.03%	0.02%	0.02%
	SJM	F	0.04%	0.07%	0.04%
	SLB	D	0.01%	0.34%	0.01%
	SLM	B	0.05%	0.03%	0.03%
	SLVM	C	0.04%	0.02%	0.02%
	SMG	C	0.05%	0.02%	0.02%
	SNV	B	0.02%	0.04%	0.02%
	SO	D	0.13%	0.56%	0.13%
	SON	F	0.04%	0.03%	0.03%
	SPB	A	0.01%	0.01%	0.01%
	SR	C	0.01%	0.02%	0.01%
	SRE	A	0.07%	0.3%	0.07%
	SSB	B	0.01%	0.04%	0.01%
	STRA	C	0.01%	0.01%	0.01%
	SWX	B	0.01%	0.03%	0.01%
	SXT	B	0.02%	0.02%	0.02%
	SYF	B	0.27%	0.11%	0.11%
	SYY	B	0.13%	0.22%	0.13%
	T	C	0.74%	0.89%	0.74%
	TAP	B	0.08%	0.06%	0.06%
	TDS	B	0.04%	0.01%	0.01%
	TFC	A	0.08%	0.32%	0.08%
	TGNA	B	0.04%	0.02%	0.02%
	TGT	C	0.75%	0.41%	0.41%
	THG	A	0.04%	0.03%	0.03%
	TPR	B	0.01%	0.06%	0.01%
	TRGP	A	0.1%	0.18%	0.1%
	TRN	A	0.04%	0.02%	0.02%
	TROW	B	0.09%	0.13%	0.09%
	TRV	B	0.2%	0.3%	0.2%
	TSN	C	0.17%	0.09%	0.09%
	TXN	B	0.3%	1.06%	0.3%
	UGI	D	0.01%	0.03%	0.01%
	UNM	A	0.04%	0.06%	0.04%
	UNP	D	0.51%	0.85%	0.51%
	UPS	D	0.25%	0.56%	0.25%
	USB	B	0.1%	0.35%	0.1%
	UVV	B	0.01%	0.01%	0.01%
	VFC	C	0.02%	0.04%	0.02%
	VIRT	B	0.05%	0.01%	0.01%
	VLO	D	0.16%	0.24%	0.16%
	VSH	F	0.02%	0.01%	0.01%
	VST	B	0.2%	0.23%	0.2%
	VTRS	B	0.13%	0.08%	0.08%
	VZ	D	1.03%	1.07%	1.03%
	WAFD	B	0.01%	0.01%	0.01%
	WAL	B	0.02%	0.05%	0.02%
	WBA	D	0.13%	0.04%	0.04%
	WBS	B	0.01%	0.04%	0.01%
	WEN	C	0.06%	0.02%	0.02%
	WFC	B	0.87%	1.12%	0.87%
	WGO	B	0.01%	0.01%	0.01%
	WH	A	0.04%	0.03%	0.03%
	WHR	B	0.03%	0.03%	0.03%
	WKC	D	0.02%	0.01%	0.01%
	WM	A	0.28%	0.47%	0.28%
	WMB	A	0.1%	0.31%	0.1%
	WMK	B	0.01%	0.01%	0.01%
	WMT	A	1.72%	1.98%	1.72%
	WOR	D	0.01%	0.01%	0.01%
	WRB	B	0.02%	0.09%	0.02%
	WSM	F	0.19%	0.11%	0.11%
	WSO	A	0.16%	0.1%	0.1%
	WU	F	0.06%	0.02%	0.02%
	XOM	B	0.44%	2.97%	0.44%
	XRX	F	0.01%	0.01%	0.01%
	YUM	B	0.14%	0.22%	0.14%
	ZION	B	0.02%	0.04%	0.02%

MFUS Overweight 480 Positions Relative to VYM

	Symbol	Grade	Weight
	LLY	D	2.52%
	META	B	2.36%
	BRK.A	C	2.36%
	NVDA	A	1.82%
	AMZN	B	1.64%
	ORCL	A	1.42%
	COST	B	1.33%
	AAPL	D	0.96%
	UNH	B	0.77%
	GE	C	0.56%
	MCK	B	0.56%
	AMAT	F	0.55%
	NFLX	A	0.48%
	TMUS	A	0.42%
	BKNG	A	0.41%
	REGN	F	0.4%
	GM	B	0.37%
	NOC	C	0.37%
	TJX	B	0.36%
	NOW	A	0.34%
	CHTR	B	0.3%
	V	A	0.3%
	TMO	F	0.3%
	SPGI	D	0.29%
	ICE	D	0.29%
	ISRG	A	0.28%
	MA	A	0.28%
	AZO	C	0.28%
	THC	B	0.28%
	COF	B	0.27%
	HCA	D	0.27%
	DHR	F	0.26%
	AON	A	0.25%
	ANF	D	0.25%
	KLAC	F	0.24%
	SFM	B	0.24%
	ACN	C	0.24%
	VRTX	B	0.23%
	PANW	A	0.23%
	FICO	A	0.22%
	AXP	B	0.22%
	SHW	B	0.22%
	UBER	F	0.22%
	GWW	B	0.21%
	LII	B	0.21%
	ORLY	A	0.2%
	CMG	B	0.2%
	BSX	A	0.2%
	MMC	C	0.2%
	INTC	C	0.19%
	MSI	B	0.19%
	CTAS	A	0.19%
	UTHR	B	0.19%
	LRCX	F	0.18%
	BAH	C	0.18%
	FI	A	0.18%
	MU	C	0.17%
	COR	A	0.17%
	RMD	B	0.17%
	EA	A	0.17%
	DECK	B	0.16%
	CASY	A	0.16%
	BR	A	0.16%
	SPG	B	0.16%
	PLTR	B	0.16%
	VRSK	A	0.16%
	ELV	F	0.16%
	ANET	C	0.15%
	AMT	F	0.15%
	HWM	B	0.15%
	MUSA	B	0.15%
	AJG	B	0.15%
	TDG	B	0.15%
	DVA	C	0.15%
	PH	B	0.14%
	MCO	C	0.14%
	KKR	B	0.14%
	IT	A	0.14%
	LDOS	A	0.13%
	DPZ	C	0.13%
	IRM	C	0.13%
	RSG	A	0.13%
	PYPL	B	0.12%
	PWR	B	0.12%
	BRO	A	0.12%
	APH	B	0.12%
	WELL	B	0.12%
	BDX	D	0.12%
	CW	B	0.11%
	CACI	B	0.11%
	XYL	D	0.11%
	BWXT	A	0.11%
	WTW	A	0.11%
	CSX	B	0.11%
	CEG	D	0.11%
	GDDY	A	0.11%
	EXPD	F	0.11%
	TSCO	D	0.11%
	JKHY	C	0.11%
	EXR	D	0.11%
	EFX	D	0.11%
	NVR	D	0.1%
	AYI	A	0.1%
	DG	F	0.1%
	PSA	D	0.1%
	AVY	F	0.1%
	PHM	D	0.1%
	DASH	A	0.1%
	ALSN	B	0.1%
	AOS	F	0.09%
	GPI	B	0.09%
	IEX	B	0.09%
	LSTR	B	0.09%
	ADSK	B	0.09%
	URI	B	0.09%
	DLR	B	0.09%
	EHC	B	0.09%
	RCL	A	0.09%
	HLT	A	0.09%
	TMHC	C	0.09%
	MTD	F	0.09%
	OTIS	D	0.08%
	ABG	B	0.08%
	HCC	C	0.08%
	GEHC	D	0.08%
	STE	F	0.08%
	AEO	F	0.08%
	WCC	B	0.08%
	MPWR	F	0.08%
	ITT	A	0.08%
	SMCI	F	0.08%
	CPRT	B	0.08%
	ATR	A	0.08%
	NUE	C	0.08%
	SEIC	A	0.08%
	GPK	D	0.08%
	ECL	D	0.08%
	MLI	B	0.08%
	TYL	B	0.08%
	SLG	C	0.08%
	WDC	D	0.08%
	IR	A	0.08%
	CNX	B	0.07%
	EXP	B	0.07%
	MSCI	B	0.07%
	COIN	B	0.07%
	CHD	B	0.07%
	DHI	D	0.07%
	SCI	B	0.07%
	BCC	B	0.07%
	LEN	D	0.07%
	TTWO	A	0.07%
	ALNY	D	0.07%
	BIIB	F	0.07%
	GLPI	D	0.07%
	THO	B	0.07%
	MLM	B	0.07%
	POOL	D	0.07%
	BALL	D	0.07%
	LPX	A	0.07%
	MNST	B	0.07%
	CCI	F	0.07%
	VNO	C	0.07%
	ATGE	B	0.06%
	CMC	B	0.06%
	FCN	D	0.06%
	STZ	D	0.06%
	LECO	B	0.06%
	CHE	D	0.06%
	TPH	D	0.06%
	TW	B	0.06%
	WAT	B	0.06%
	CPT	D	0.06%
	L	B	0.06%
	MMS	C	0.06%
	TXRH	B	0.06%
	O	D	0.06%
	JLL	C	0.06%
	LPLA	A	0.06%
	NKE	F	0.06%
	PK	B	0.06%
	AMG	C	0.06%
	AN	D	0.06%
	FFIV	B	0.06%
	CCK	B	0.06%
	FTNT	A	0.06%
	MTH	D	0.06%
	TTC	D	0.06%
	ROP	B	0.06%
	MAS	D	0.06%
	UHS	D	0.06%
	TOL	B	0.06%
	APP	A	0.06%
	ROL	B	0.06%
	UFPI	B	0.06%
	SKYW	B	0.06%
	URBN	C	0.05%
	ERIE	F	0.05%
	SCHW	A	0.05%
	WST	C	0.05%
	USFD	A	0.05%
	NDAQ	B	0.05%
	CNC	F	0.05%
	COOP	B	0.05%
	GVA	B	0.05%
	HBI	B	0.05%
	CARR	D	0.05%
	G	B	0.05%
	EXEL	B	0.05%
	GNTX	C	0.05%
	SLGN	A	0.05%
	CBRE	B	0.05%
	TEX	C	0.05%
	ANSS	B	0.05%
	IDXX	D	0.05%
	POST	D	0.05%
	SUI	F	0.05%
	ZTS	F	0.05%
	WAB	B	0.05%
	A	F	0.05%
	IBKR	A	0.05%
	LUMN	B	0.05%
	LAMR	D	0.05%
	NSIT	F	0.05%
	FCNCA	B	0.05%
	SQ	A	0.05%
	FIX	B	0.05%
	GNRC	B	0.05%
	ESS	C	0.04%
	HOLX	D	0.04%
	AMH	D	0.04%
	ADBE	C	0.04%
	EQR	D	0.04%
	BJ	B	0.04%
	CDP	C	0.04%
	INVH	D	0.04%
	ACM	B	0.04%
	CLH	B	0.04%
	BDC	B	0.04%
	ELS	C	0.04%
	AGNC	D	0.04%
	CVLT	B	0.04%
	SANM	B	0.04%
	RUSHA	B	0.04%
	PSTG	D	0.04%
	HUBG	B	0.04%
	PRIM	B	0.04%
	FDS	A	0.04%
	WTM	A	0.04%
	BLDR	D	0.04%
	HEI	C	0.04%
	BHF	B	0.04%
	ULTA	C	0.04%
	NWSA	B	0.04%
	GEO	B	0.04%
	OLN	D	0.04%
	VRSN	C	0.04%
	FL	D	0.04%
	ATI	D	0.04%
	LOPE	B	0.04%
	FTI	B	0.04%
	NBIX	C	0.04%
	CPNG	C	0.04%
	CTVA	C	0.04%
	TKR	F	0.04%
	SIG	B	0.04%
	CRUS	F	0.04%
	PTC	B	0.04%
	VTR	C	0.04%
	ARW	F	0.04%
	EME	B	0.04%
	STLD	B	0.04%
	MAC	B	0.04%
	CUBE	D	0.04%
	AR	B	0.04%
	MAR	A	0.04%
	ZBRA	A	0.04%
	KD	B	0.04%
	RGLD	C	0.04%
	VLTO	D	0.04%
	SRCL	B	0.04%
	MHO	D	0.04%
	MOG.A	B	0.04%
	NDSN	B	0.04%
	FLEX	B	0.04%
	DCI	A	0.04%
	UNF	B	0.03%
	XRAY	F	0.03%
	DRH	B	0.03%
	HXL	D	0.03%
	ORA	C	0.03%
	RYN	F	0.03%
	OI	D	0.03%
	DLTR	F	0.03%
	SBAC	D	0.03%
	BURL	C	0.03%
	TFX	F	0.03%
	WPC	F	0.03%
	VC	D	0.03%
	FHI	A	0.03%
	AKAM	F	0.03%
	UDR	D	0.03%
	AMKR	F	0.03%
	PRG	C	0.03%
	PLXS	B	0.03%
	DELL	C	0.03%
	TER	D	0.03%
	APLE	B	0.03%
	COHR	B	0.03%
	LBRDK	B	0.03%
	BFAM	F	0.03%
	GMS	B	0.03%
	GNW	A	0.03%
	AVB	B	0.03%
	CPAY	A	0.03%
	TPX	C	0.03%
	LW	C	0.03%
	GGG	B	0.03%
	JBL	B	0.03%
	X	B	0.03%
	AVTR	F	0.03%
	SM	C	0.03%
	CDW	F	0.03%
	MASI	B	0.03%
	DBRG	F	0.03%
	MATX	B	0.03%
	XPO	B	0.03%
	BLD	F	0.03%
	ASO	F	0.03%
	HOOD	B	0.03%
	NYT	C	0.03%
	KBH	D	0.03%
	MANH	C	0.03%
	MORN	A	0.03%
	COLD	F	0.03%
	AWI	A	0.03%
	HSIC	F	0.03%
	REZI	A	0.02%
	HE	F	0.02%
	TTMI	A	0.02%
	DNOW	B	0.02%
	SSNC	C	0.02%
	LAUR	B	0.02%
	LXP	D	0.02%
	UHAL	C	0.02%
	SATS	C	0.02%
	KIM	B	0.02%
	AA	C	0.02%
	AXTA	B	0.02%
	JBLU	D	0.02%
	CSL	C	0.02%
	TTEK	C	0.02%
	ODFL	B	0.02%
	OSIS	C	0.02%
	ANDE	D	0.02%
	TDC	D	0.02%
	LAD	B	0.02%
	APG	B	0.02%
	BXP	D	0.02%
	SNDR	A	0.02%
	BRKR	F	0.02%
	HST	C	0.02%
	PNR	B	0.02%
	ODP	F	0.02%
	PMT	F	0.02%
	MAA	C	0.02%
	VVV	B	0.02%
	RLJ	C	0.02%
	OC	B	0.02%
	EPC	F	0.02%
	LNW	C	0.02%
	DOV	A	0.02%
	PFSI	D	0.02%
	SAM	B	0.02%
	YELP	C	0.02%
	AIR	C	0.02%
	NTCT	B	0.02%
	VSCO	B	0.02%
	GWRE	A	0.02%
	XHR	B	0.02%
	DLB	C	0.02%
	SKX	F	0.02%
	OHI	B	0.02%
	DORM	B	0.02%
	CCL	A	0.02%
	HAE	B	0.02%
	CTLT	C	0.02%
	SBH	C	0.02%
	GHC	B	0.02%
	CXW	B	0.02%
	KBR	B	0.02%
	WMS	F	0.02%
	PVH	C	0.02%
	THS	F	0.02%
	MSA	D	0.02%
	STC	C	0.02%
	VSTO	A	0.02%
	GMED	B	0.02%
	COKE	D	0.02%
	ADNT	F	0.02%
	NEU	C	0.02%
	PSN	A	0.02%
	ACA	B	0.02%
	JBHT	B	0.02%
	MKTX	C	0.02%
	WERN	B	0.02%
	SVC	F	0.01%
	QRVO	F	0.01%
	NOV	D	0.01%
	KNX	B	0.01%
	CPRI	F	0.01%
	SCL	C	0.01%
	UHAL	C	0.01%
	RKT	D	0.01%
	ELAN	D	0.01%
	MKSI	D	0.01%
	CACC	F	0.01%
	IMKTA	C	0.01%
	CNXN	C	0.01%
	ECPG	B	0.01%
	ARI	D	0.01%
	GIII	C	0.01%
	ALEX	B	0.01%
	SEB	F	0.01%
	OUT	C	0.01%
	RVTY	C	0.01%
	ARMK	C	0.01%
	CENTA	C	0.01%
	ESI	B	0.01%
	SHO	B	0.01%
	SPR	F	0.01%
	JELD	F	0.01%
	JBGS	F	0.01%
	SIGI	B	0.01%
	PECO	B	0.01%
	AMED	F	0.01%
	CLF	D	0.01%
	OMI	F	0.01%
	BRC	B	0.01%
	DY	C	0.01%
	FELE	B	0.01%
	CNM	D	0.01%
	KN	B	0.01%
	PPC	B	0.01%
	IDCC	A	0.01%
	TNET	D	0.01%
	MHK	D	0.01%
	DXC	B	0.01%
	CROX	F	0.01%
	WTFC	A	0.01%
	NNN	F	0.01%
	LADR	B	0.01%
	INCY	B	0.01%
	CR	B	0.01%
	SAIC	B	0.01%
	FLR	C	0.01%
	WWD	B	0.01%
	H	C	0.01%
	ESAB	B	0.01%
	RBC	B	0.01%
	GOLF	B	0.01%
	ALGN	D	0.01%
	IOSP	B	0.01%
	GME	C	0.01%
	UAL	A	0.01%
	NNI	C	0.01%
	SAH	B	0.01%
	PSMT	D	0.01%
	KEX	A	0.01%
	AMWD	B	0.01%
	ICUI	C	0.01%
	ADC	B	0.01%
	BWA	B	0.01%
	BMRN	F	0.01%
	VNT	B	0.01%
	FYBR	D	0.01%
	DEI	C	0.01%
	GT	C	0.01%
	FR	D	0.01%
	WOLF	F	0.0%

MFUS Underweight 194 Positions Relative to VYM

	Symbol	Grade	Weight
	ABT	B	-1.11%
	BLK	B	-0.79%
	HON	B	-0.76%
	ETN	A	-0.75%
	MDT	D	-0.65%
	ADI	D	-0.64%
	EOG	B	-0.4%
	APO	B	-0.37%
	APD	B	-0.37%
	NXPI	F	-0.35%
	FDX	B	-0.35%
	PCAR	B	-0.29%
	MCHP	F	-0.24%
	XEL	A	-0.2%
	WEC	B	-0.17%
	ROK	B	-0.17%
	AWK	D	-0.16%
	STT	B	-0.15%
	GRMN	A	-0.15%
	DVN	F	-0.14%
	HAL	D	-0.14%
	EL	F	-0.13%
	AEE	A	-0.13%
	STX	D	-0.12%
	EQT	A	-0.12%
	CNP	B	-0.11%
	GPC	D	-0.11%
	EG	D	-0.1%
	SWK	F	-0.1%
	LUV	B	-0.1%
	CTRA	C	-0.1%
	CF	B	-0.09%
	SWKS	F	-0.09%
	CCEP	D	-0.09%
	BG	D	-0.08%
	SNA	A	-0.08%
	NVT	B	-0.07%
	BAP	B	-0.07%
	HAS	D	-0.06%
	OVV	C	-0.06%
	LKQ	D	-0.06%
	VOYA	A	-0.05%
	CHRD	F	-0.05%
	OGE	B	-0.05%
	FMC	F	-0.05%
	ORI	A	-0.05%
	APA	F	-0.05%
	PR	B	-0.05%
	CNH	D	-0.05%
	AFG	B	-0.05%
	WTRG	B	-0.05%
	ALV	C	-0.04%
	FLS	B	-0.04%
	BPOP	C	-0.04%
	XP	F	-0.04%
	AVNT	B	-0.03%
	OZK	B	-0.03%
	NJR	B	-0.03%
	UMBF	B	-0.03%
	AL	B	-0.03%
	FFIN	B	-0.03%
	POR	D	-0.03%
	TPG	B	-0.03%
	PIPR	B	-0.03%
	UBSI	B	-0.03%
	FNB	A	-0.03%
	HOMB	A	-0.03%
	CIVI	F	-0.03%
	AM	B	-0.03%
	GBCI	B	-0.03%
	FOX	A	-0.03%
	IDA	A	-0.03%
	COLB	B	-0.03%
	BCPC	B	-0.03%
	SIRI	C	-0.03%
	AXS	B	-0.03%
	CPK	B	-0.02%
	CXT	D	-0.02%
	YOU	C	-0.02%
	FHB	B	-0.02%
	CATY	B	-0.02%
	LCII	D	-0.02%
	CBU	B	-0.02%
	AWR	B	-0.02%
	TNL	A	-0.02%
	CWT	D	-0.02%
	EBC	B	-0.02%
	IBOC	B	-0.02%
	OTTR	C	-0.02%
	ASB	B	-0.02%
	FULT	B	-0.02%
	MGEE	A	-0.02%
	STNG	F	-0.02%
	CCOI	C	-0.02%
	AUB	B	-0.02%
	FBP	B	-0.02%
	UCB	B	-0.02%
	NWE	C	-0.02%
	NOG	B	-0.02%
	DNB	B	-0.02%
	PRGO	C	-0.02%
	IRDM	C	-0.02%
	GLNG	C	-0.02%
	CRC	B	-0.02%
	WD	C	-0.02%
	ALE	A	-0.02%
	KFY	B	-0.02%
	VLY	B	-0.02%
	SFBS	B	-0.02%
	AGO	B	-0.02%
	BKH	B	-0.02%
	OGS	B	-0.02%
	MGY	B	-0.02%
	PII	F	-0.02%
	HWC	B	-0.02%
	JACK	D	-0.01%
	MATV	F	-0.01%
	UI	A	-0.01%
	CBRL	D	-0.01%
	CNA	D	-0.01%
	KLG	D	-0.01%
	SRCE	A	-0.01%
	BHLB	B	-0.01%
	SAFT	B	-0.01%
	EIG	B	-0.01%
	KW	C	-0.01%
	WABC	B	-0.01%
	OXM	D	-0.01%
	BLMN	F	-0.01%
	SASR	B	-0.01%
	WT	B	-0.01%
	SFL	F	-0.01%
	VRTS	B	-0.01%
	HMN	B	-0.01%
	HOPE	B	-0.01%
	AY	B	-0.01%
	HEES	B	-0.01%
	SYBT	B	-0.01%
	NWN	B	-0.01%
	STBA	C	-0.01%
	NWBI	B	-0.01%
	UPBD	B	-0.01%
	NTB	B	-0.01%
	REYN	D	-0.01%
	WSBC	B	-0.01%
	CHCO	B	-0.01%
	FCF	B	-0.01%
	WLY	A	-0.01%
	TROX	F	-0.01%
	PZZA	D	-0.01%
	TNC	F	-0.01%
	B	B	-0.01%
	TRMK	B	-0.01%
	HI	C	-0.01%
	CAKE	B	-0.01%
	SJW	D	-0.01%
	CABO	C	-0.01%
	NBTB	B	-0.01%
	BANR	B	-0.01%
	RNST	B	-0.01%
	KMT	B	-0.01%
	IBTX	B	-0.01%
	NMRK	B	-0.01%
	ADTN	B	-0.01%
	BANF	B	-0.01%
	VGR	B	-0.01%
	FRME	A	-0.01%
	SBCF	B	-0.01%
	ENR	B	-0.01%
	TOWN	B	-0.01%
	PFS	B	-0.01%
	SBLK	D	-0.01%
	CVBF	B	-0.01%
	FFBC	B	-0.01%
	HTLF	B	-0.01%
	BOKF	B	-0.01%
	PRK	B	-0.01%
	PPBI	B	-0.01%
	FIBK	B	-0.01%
	BOH	B	-0.01%
	INDB	B	-0.01%
	AGR	C	-0.01%
	VAC	B	-0.01%
	MGRC	B	-0.01%
	SFNC	B	-0.01%
	JJSF	B	-0.01%
	RRR	F	-0.01%
	RBCAA	B	-0.0%
	NFE	F	-0.0%
	TFSL	A	-0.0%
	SCHL	D	-0.0%
	FG	B	-0.0%
	DLX	B	-0.0%
	SSTK	D	-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 Transport Beverage Clothing Dow Jones Component Retail Store Retailing

VYM: Top Represented Industries & Keywords

Industries: Banks - Regional - US Asset Management Utilities - Regulated Electric Oil & Gas E&P Packaged Foods Insurance - Property & Casualty Utilities - Diversified Utilities - Regulated Gas Diversified Industrials Restaurants Specialty Chemicals Insurance - Life Oil & Gas Refining & Marketing Semiconductors Capital Markets Chemicals Credit Services Drug Manufacturers - Major Insurance - Diversified Packaging & Containers

Keywords: S&P 500 Bank Banking Natural Gas Insurance Deposit Products Electricity Commercial Banking Nasdaq 100 Real Estate Loans Investment Bank Investment Management Insurance Products Mining Chemical Commercial Bank Life Insurance Trust Services Cash Management Electronics