ONEQ vs. IWS ETF Comparison

Comparison of Fidelity Nasdaq Composite Index Tracking Stock (ONEQ) to iShares Russell Mid-cap Value ETF (IWS)

ONEQ

Fidelity Nasdaq Composite Index Tracking Stock

ONEQ Description

ONEQ tracks only Nasdaq-listed companies and ignores those trading on the NYSE or other exchanges. The funds underlying index comprises all domestic and international companies listed in Nasdaq. ONEQs portfolio may favor technology firms, which in the past have dominated the Nasdaq market. This is at the expense of energy, industrials, financials and other industries. Its heavy weightings to large-cap firms may increase single-stock blowup risk. Much like the market it aims to track, ONEQ is essentially a growth play, carrying elevated P/E and P/B ratios and paying smaller dividends. This exposure has translated to higher market risk. ONEQ uses a sampling strategy to track its index, which is reconstituted and rebalanced daily.

Grade (RS Rating)

Last Trade

$71.02

Average Daily Volume

311,190

Number of Holdings ^*

824

* may have additional holdings in another (foreign) market

IWS

iShares Russell Mid-cap Value ETF

IWS Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell Midcap Value Index (the "underlying index"), which measures the performance of the mid-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$131.68

Average Daily Volume

299,450

Number of Holdings ^*

705

* may have additional holdings in another (foreign) market

Performance

Period	ONEQ	IWS
30 Days	1.17%	3.99%
60 Days	1.73%	5.45%
90 Days	1.97%	8.99%
12 Months	34.63%	24.45%

192 Overlapping Holdings

Symbol	Grade	Weight in ONEQ	Weight in IWS	Overlap
AAL	D	0.02%	0.07%	0.02%
ACGL	C	0.15%	0.46%	0.15%
ACHC	C	0.03%	0.08%	0.03%
AFRM	C	0.04%	0.11%	0.04%
AGNC	B	0.02%	0.08%	0.02%
AKAM	D	0.05%	0.17%	0.05%
ALGM	F	0.02%	0.02%	0.02%
ALGN	D	0.06%	0.09%	0.06%
ALNY	C	0.12%	0.04%	0.04%
AMED	C	0.01%	0.04%	0.01%
AMKR	F	0.03%	0.04%	0.03%
ANSS	D	0.09%	0.32%	0.09%
APA	F	0.03%	0.1%	0.03%
AVT	C	0.01%	0.05%	0.01%
AZTA	F	0.01%	0.03%	0.01%
BHF	F	0.01%	0.03%	0.01%
BIIB	F	0.1%	0.33%	0.1%
BKR	C	0.12%	0.38%	0.12%
BMRN	F	0.06%	0.18%	0.06%
BOKF	B	0.02%	0.03%	0.02%
BPOP	C	0.02%	0.07%	0.02%
BRKR	D	0.03%	0.03%	0.03%
CACC	F	0.02%	0.01%	0.01%
CAR	F	0.01%	0.01%	0.01%
CASY	D	0.05%	0.13%	0.05%
CBSH	C	0.03%	0.09%	0.03%
CDW	D	0.1%	0.17%	0.1%
CG	D	0.05%	0.1%	0.05%
CGNX	F	0.02%	0.07%	0.02%
CHK	D	0.03%	0.11%	0.03%
CHRD	F	0.03%	0.09%	0.03%
CHRW	B	0.04%	0.13%	0.04%
CHTR	D	0.17%	0.37%	0.17%
CINF	C	0.07%	0.24%	0.07%
CNXC	F	0.02%	0.04%	0.02%
COIN	F	0.12%	0.06%	0.06%
COKE	C	0.04%	0.09%	0.04%
COLB	B	0.02%	0.06%	0.02%
COLM	C	0.02%	0.03%	0.02%
CPB	C	0.05%	0.11%	0.05%
CROX	D	0.03%	0.07%	0.03%
CRUS	D	0.02%	0.08%	0.02%
CSGP	D	0.11%	0.37%	0.11%
CTSH	C	0.13%	0.44%	0.13%
CZR	C	0.03%	0.1%	0.03%
DBX	D	0.02%	0.05%	0.02%
DLTR	F	0.05%	0.16%	0.05%
DOX	C	0.03%	0.11%	0.03%
EA	D	0.13%	0.45%	0.13%
EBAY	B	0.11%	0.37%	0.11%
EEFT	D	0.02%	0.05%	0.02%
ETSY	F	0.03%	0.03%	0.03%
EVRG	B	0.04%	0.16%	0.04%
EWBC	D	0.04%	0.13%	0.04%
EXAS	C	0.04%	0.08%	0.04%
EXC	C	0.14%	0.46%	0.14%
EXEL	C	0.03%	0.01%	0.01%
FANG	D	0.11%	0.35%	0.11%
FAST	C	0.14%	0.07%	0.07%
FCNCA	D	0.09%	0.25%	0.09%
FFIV	B	0.04%	0.14%	0.04%
FHB	D	0.01%	0.03%	0.01%
FITB	B	0.1%	0.33%	0.1%
FIVE	D	0.02%	0.01%	0.01%
FOX	B	0.03%	0.06%	0.03%
FOXA	B	0.03%	0.11%	0.03%
FRPT	B	0.03%	0.05%	0.03%
FSLR	C	0.08%	0.28%	0.08%
FTRE	D	0.01%	0.02%	0.01%
FYBR	C	0.03%	0.1%	0.03%
GEHC	C	0.14%	0.38%	0.14%
GFS	F	0.08%	0.04%	0.04%
GLPI	C	0.04%	0.16%	0.04%
GNTX	F	0.02%	0.08%	0.02%
HAS	B	0.04%	0.01%	0.01%
HBAN	B	0.07%	0.24%	0.07%
HCP	B	0.02%	0.01%	0.01%
HOLX	C	0.06%	0.21%	0.06%
HOOD	C	0.06%	0.17%	0.06%
HSIC	C	0.03%	0.1%	0.03%
HST	C	0.04%	0.14%	0.04%
IAC	C	0.02%	0.04%	0.02%
IBKR	B	0.05%	0.15%	0.05%
ILMN	C	0.07%	0.24%	0.07%
INCY	C	0.04%	0.13%	0.04%
IONS	F	0.02%	0.01%	0.01%
IRDM	D	0.01%	0.03%	0.01%
JAZZ	D	0.02%	0.08%	0.02%
JBHT	D	0.06%	0.16%	0.06%
JKHY	B	0.04%	0.15%	0.04%
LAMR	B	0.04%	0.1%	0.04%
LBRDA	F	0.01%	0.01%	0.01%
LBRDK	F	0.03%	0.06%	0.03%
LCID	C	0.04%	0.04%	0.04%
LECO	F	0.03%	0.08%	0.03%
LFUS	C	0.02%	0.07%	0.02%
LITE	B	0.02%	0.04%	0.02%
LKQ	F	0.03%	0.12%	0.03%
LNT	B	0.05%	0.17%	0.05%
LOPE	D	0.02%	0.03%	0.02%
LSCC	D	0.02%	0.01%	0.01%
LSTR	D	0.02%	0.08%	0.02%
LYFT	D	0.02%	0.01%	0.01%
MASI	F	0.02%	0.03%	0.02%
MAT	C	0.03%	0.07%	0.03%
MCHP	F	0.14%	0.47%	0.14%
MIDD	D	0.02%	0.08%	0.02%
MKSI	F	0.03%	0.08%	0.03%
MKTX	C	0.04%	0.11%	0.04%
MSTR	D	0.08%	0.24%	0.08%
MTCH	C	0.03%	0.11%	0.03%
MTSI	D	0.03%	0.06%	0.03%
NCNO	D	0.01%	0.01%	0.01%
NDAQ	A	0.15%	0.35%	0.15%
NDSN	C	0.05%	0.16%	0.05%
NFE	F	0.01%	0.0%	0.0%
NTAP	D	0.08%	0.15%	0.08%
NTNX	C	0.05%	0.12%	0.05%
NTRS	A	0.06%	0.21%	0.06%
NWL	C	0.02%	0.04%	0.02%
NWS	D	0.01%	0.04%	0.01%
NWSA	D	0.03%	0.11%	0.03%
NXST	D	0.02%	0.04%	0.02%
OKTA	F	0.04%	0.07%	0.04%
OLED	C	0.03%	0.06%	0.03%
OLLI	C	0.02%	0.07%	0.02%
ON	D	0.1%	0.35%	0.1%
OZK	D	0.01%	0.05%	0.01%
PARA	F	0.03%	0.07%	0.03%
PAYX	C	0.17%	0.32%	0.17%
PENN	D	0.01%	0.03%	0.01%
PFG	B	0.06%	0.22%	0.06%
PINC	C	0.01%	0.03%	0.01%
PLTK	C	0.01%	0.01%	0.01%
PNFP	B	0.02%	0.08%	0.02%
PPC	D	0.04%	0.02%	0.02%
PTC	D	0.07%	0.09%	0.07%
PYCR	D	0.01%	0.01%	0.01%
QRVO	F	0.03%	0.12%	0.03%
RCM	C	0.02%	0.03%	0.02%
REG	C	0.05%	0.16%	0.05%
REYN	C	0.03%	0.02%	0.02%
RGEN	D	0.03%	0.08%	0.03%
RGLD	C	0.04%	0.11%	0.04%
RIVN	F	0.05%	0.13%	0.05%
ROKU	C	0.03%	0.09%	0.03%
ROST	C	0.18%	0.45%	0.18%
RPRX	C	0.04%	0.12%	0.04%
SAIA	D	0.04%	0.05%	0.04%
SAIC	C	0.02%	0.08%	0.02%
SBAC	C	0.09%	0.3%	0.09%
SEIC	C	0.03%	0.08%	0.03%
SHC	C	0.02%	0.03%	0.02%
SLM	D	0.02%	0.05%	0.02%
SOFI	C	0.03%	0.08%	0.03%
SRCL	A	0.01%	0.07%	0.01%
SRCL	A	0.02%	0.07%	0.02%
SSNC	B	0.06%	0.19%	0.06%
STLD	F	0.06%	0.19%	0.06%
SWKS	D	0.05%	0.19%	0.05%
TECH	C	0.04%	0.13%	0.04%
TER	D	0.07%	0.02%	0.02%
TFSL	C	0.02%	0.01%	0.01%
TPG	B	0.02%	0.04%	0.02%
TRMB	C	0.05%	0.16%	0.05%
TROW	D	0.08%	0.26%	0.08%
TTEK	C	0.04%	0.11%	0.04%
TTWO	C	0.09%	0.29%	0.09%
TW	B	0.05%	0.09%	0.05%
TXG	D	0.01%	0.01%	0.01%
UAL	C	0.06%	0.19%	0.06%
ULTA	D	0.06%	0.03%	0.03%
UTHR	C	0.05%	0.17%	0.05%
VIRT	C	0.01%	0.03%	0.01%
VRSN	D	0.06%	0.17%	0.06%
VTRS	D	0.05%	0.16%	0.05%
WBA	F	0.03%	0.08%	0.03%
WBD	D	0.07%	0.24%	0.07%
WDC	D	0.08%	0.24%	0.08%
WEN	C	0.01%	0.02%	0.01%
WSC	D	0.03%	0.06%	0.03%
WTFC	C	0.02%	0.08%	0.02%
WTW	C	0.1%	0.34%	0.1%
WWD	D	0.03%	0.11%	0.03%
WYNN	D	0.03%	0.08%	0.03%
XEL	B	0.13%	0.41%	0.13%
XRAY	D	0.02%	0.06%	0.02%
Z	B	0.04%	0.11%	0.04%
ZBRA	B	0.06%	0.16%	0.06%
ZG	B	0.01%	0.03%	0.01%
ZION	D	0.02%	0.08%	0.02%
ZM	C	0.06%	0.19%	0.06%

ONEQ Overweight 632 Positions Relative to IWS

Symbol	Grade	Weight
AAPL	C	11.9%
MSFT	C	11.17%
NVDA	D	10.22%
AMZN	C	6.77%
META	B	4.01%
GOOGL	D	3.23%
GOOG	D	3.1%
AVGO	C	2.71%
TSLA	C	2.56%
COST	B	1.41%
NFLX	B	1.04%
AMD	D	0.86%
PEP	C	0.85%
ADBE	F	0.84%
TMUS	C	0.83%
LIN	B	0.78%
CSCO	C	0.7%
QCOM	D	0.65%
INTU	C	0.64%
TXN	C	0.63%
AMGN	B	0.62%
ISRG	B	0.6%
CMCSA	D	0.54%
AMAT	D	0.54%
HON	D	0.46%
BKNG	C	0.46%
REGN	C	0.43%
VRTX	D	0.43%
SBUX	C	0.39%
ADI	C	0.39%
PANW	D	0.39%
ADP	B	0.39%
MELI	B	0.38%
GILD	B	0.36%
MDLZ	B	0.35%
LRCX	F	0.35%
KLAC	D	0.35%
MU	F	0.35%
INTC	F	0.29%
CTAS	B	0.29%
CME	C	0.28%
EQIX	C	0.28%
ASML	F	0.26%
SNPS	F	0.26%
CDNS	D	0.25%
PYPL	B	0.25%
CSX	D	0.23%
MAR	C	0.23%
ORLY	C	0.23%
CEG	C	0.22%
PDD	F	0.22%
MRVL	C	0.22%
CRWD	D	0.21%
FTNT	C	0.2%
ROP	C	0.2%
NXPI	F	0.2%
AEP	C	0.19%
ADSK	C	0.19%
ABNB	D	0.18%
WDAY	D	0.18%
MNST	D	0.18%
CPRT	D	0.17%
PCAR	D	0.17%
DASH	C	0.17%
KDP	B	0.17%
AZN	D	0.16%
TTD	B	0.16%
ODFL	D	0.15%
KHC	C	0.15%
MPWR	C	0.15%
IDXX	C	0.14%
CCEP	B	0.13%
VRSK	D	0.13%
DDOG	D	0.12%
APP	C	0.11%
TSCO	C	0.11%
LULU	D	0.11%
DXCM	F	0.1%
AXON	B	0.1%
SMMT	C	0.09%
ZS	F	0.09%
ERIE	B	0.09%
TEAM	D	0.09%
MRNA	F	0.09%
SMCI	F	0.09%
STX	C	0.08%
MDB	D	0.08%
ICLR	D	0.08%
CHKP	B	0.07%
NTRA	C	0.06%
LPLA	D	0.06%
EXPE	C	0.06%
ENTG	F	0.06%
SNY	B	0.06%
PODD	B	0.06%
ARM	D	0.06%
DKNG	C	0.06%
ARGX	C	0.06%
JD	C	0.05%
POOL	C	0.05%
GRAB	C	0.05%
BNTX	C	0.05%
LOGI	D	0.05%
MORN	C	0.05%
PCVX	C	0.05%
BSY	D	0.05%
MANH	B	0.05%
TCOM	C	0.05%
ENPH	D	0.05%
NTES	F	0.04%
MEDP	F	0.04%
DOCU	C	0.04%
SFM	B	0.04%
WING	B	0.04%
CYBR	D	0.04%
PAA	C	0.04%
BIDU	D	0.04%
INSM	D	0.04%
FLEX	C	0.04%
SRPT	D	0.04%
NBIX	F	0.04%
MNDY	B	0.04%
GLBE	C	0.03%
ENSG	B	0.03%
HLNE	B	0.03%
CVLT	B	0.03%
VKTX	C	0.03%
GTLB	D	0.03%
MMYT	B	0.03%
ASND	C	0.03%
HALO	C	0.03%
SPSC	D	0.03%
CELH	F	0.03%
AAON	B	0.03%
XP	D	0.03%
ITCI	D	0.03%
NICE	F	0.03%
RVMD	C	0.03%
DUOL	B	0.03%
WIX	D	0.03%
OTEX	D	0.03%
CHDN	C	0.03%
PCTY	C	0.03%
LNW	B	0.03%
BGNE	C	0.03%
TXRH	C	0.03%
IESC	D	0.02%
KYMR	C	0.02%
TCBI	B	0.02%
SMTC	C	0.02%
CCOI	C	0.02%
BANF	B	0.02%
PTEN	F	0.02%
AEIS	D	0.02%
CVCO	A	0.02%
VCTR	B	0.02%
GLNG	C	0.02%
SLAB	D	0.02%
INTA	A	0.02%
KTOS	C	0.02%
PLXS	A	0.02%
FOLD	D	0.02%
IPAR	F	0.02%
SITM	B	0.02%
NMIH	B	0.02%
CRSP	F	0.02%
STEP	B	0.02%
RMBS	F	0.02%
STRL	B	0.02%
NPAB	D	0.02%
IBOC	D	0.02%
EXPI	C	0.02%
VOD	C	0.02%
SANM	D	0.02%
WMG	D	0.02%
PCH	C	0.02%
AUR	C	0.02%
APPF	D	0.02%
CHCI	C	0.02%
FIZZ	D	0.02%
SATS	C	0.02%
BECN	D	0.02%
BGC	B	0.02%
MARA	F	0.02%
RKLB	C	0.02%
OPCH	C	0.02%
QLYS	F	0.02%
VLY	C	0.02%
IMVT	D	0.02%
CRNX	C	0.02%
QXO	F	0.02%
TGTX	C	0.02%
LANC	D	0.02%
CLBT	B	0.02%
ITRI	C	0.02%
RUN	C	0.02%
BLKB	C	0.02%
APLS	F	0.02%
SGRY	C	0.02%
CFLT	F	0.02%
HTHT	D	0.02%
ONB	C	0.02%
ALTR	D	0.02%
ACLX	B	0.02%
CORT	C	0.02%
PRCT	C	0.02%
HWC	D	0.02%
CRDO	D	0.02%
TMDX	D	0.02%
AXSM	C	0.02%
ASO	C	0.02%
LEGN	F	0.02%
ALKS	C	0.02%
SBRA	C	0.02%
FELE	C	0.02%
VRRM	D	0.02%
PECO	B	0.02%
RDNT	B	0.02%
IEP	F	0.02%
BBIO	D	0.02%
CHX	F	0.02%
TIGO	B	0.02%
EXLS	B	0.02%
MDGL	F	0.02%
PI	B	0.02%
UBSI	B	0.02%
ESGR	D	0.02%
TENB	F	0.02%
COOP	C	0.02%
ADMA	B	0.02%
ICUI	B	0.02%
ACIW	C	0.02%
UMBF	B	0.02%
AMBA	C	0.02%
MMSI	B	0.02%
NSIT	D	0.02%
VRNS	C	0.02%
FUTU	D	0.02%
AVAV	C	0.02%
SIGI	D	0.02%
BPMC	F	0.02%
NUVL	C	0.02%
CWST	D	0.02%
EXPO	B	0.02%
RARE	B	0.02%
CYTK	F	0.02%
CSWI	B	0.02%
BCPC	C	0.02%
CRVL	B	0.02%
FFIN	B	0.02%
PEGA	C	0.02%
UFPI	C	0.02%
DNLI	C	0.02%
ACT	B	0.02%
KRYS	D	0.02%
HQY	C	0.02%
FRHC	B	0.02%
LNTH	D	0.02%
NOVT	D	0.02%
WFRD	F	0.02%
IQ	F	0.01%
SANA	F	0.01%
ISTR	B	0.01%
MNTK	D	0.01%
HAFC	C	0.01%
TRDA	D	0.01%
TTGT	F	0.01%
JBSS	D	0.01%
NNDM	F	0.01%
LQDA	F	0.01%
MOMO	D	0.01%
CBRL	D	0.01%
JACK	F	0.01%
CERS	F	0.01%
CIFR	F	0.01%
GLUE	C	0.01%
FFIC	C	0.01%
GSM	F	0.01%
OABI	D	0.01%
GDEN	D	0.01%
PLYA	D	0.01%
SCHL	D	0.01%
CNSL	B	0.01%
RIOT	F	0.01%
BCBP	C	0.01%
PLAY	F	0.01%
BASE	F	0.01%
SRRK	F	0.01%
SOUN	D	0.01%
WASH	B	0.01%
TRS	D	0.01%
SVRA	D	0.01%
KELYA	D	0.01%
GIII	C	0.01%
EYE	F	0.01%
NEXT	F	0.01%
SAVA	C	0.01%
FWRG	F	0.01%
FLYW	F	0.01%
CMCO	F	0.01%
ESTA	D	0.01%
ICHR	F	0.01%
MATW	F	0.01%
IMKTA	D	0.01%
WVE	D	0.01%
DHC	B	0.01%
NNBR	D	0.01%
KALU	F	0.01%
ULCC	D	0.01%
ODP	F	0.01%
EMBC	C	0.01%
FLGT	D	0.01%
CVAC	F	0.01%
OPK	C	0.01%
PFC	C	0.01%
TREE	C	0.01%
IBUY	B	0.01%
GMAB	F	0.01%
CEVA	C	0.01%
TYRA	C	0.01%
SABR	D	0.01%
MLCO	D	0.01%
AVAH	C	0.01%
COLL	C	0.01%
WB	D	0.01%
WULF	D	0.01%
CDNA	C	0.01%
BLMN	F	0.01%
NSSC	F	0.01%
COHU	F	0.01%
PDFS	F	0.01%
SDGR	D	0.01%
TARS	C	0.01%
NVEE	F	0.01%
HTLD	D	0.01%
DLO	D	0.01%
VIR	F	0.01%
VRNT	F	0.01%
HBNC	B	0.01%
VSEC	C	0.01%
VITL	D	0.01%
AVO	B	0.01%
AMSF	C	0.01%
CNDT	C	0.01%
APOG	B	0.01%
WABC	D	0.01%
RDWR	C	0.01%
COMM	B	0.01%
IMCR	F	0.01%
THRM	D	0.01%
TRNS	D	0.01%
HROW	B	0.01%
ANIP	D	0.01%
CRAI	D	0.01%
SPT	F	0.01%
TH	D	0.01%
PFBC	D	0.01%
INMD	D	0.01%
CENX	D	0.01%
CLOV	C	0.01%
ATAT	B	0.01%
DGII	D	0.01%
GDYN	C	0.01%
PEBO	C	0.01%
MCRI	C	0.01%
ULH	C	0.01%
STAA	F	0.01%
BLBD	D	0.01%
SCSC	D	0.01%
UCTT	F	0.01%
CSGS	C	0.01%
MRVI	C	0.01%
SCVL	B	0.01%
MRTN	D	0.01%
OCFC	B	0.01%
UDMY	D	0.01%
CLSK	F	0.01%
QNST	B	0.01%
IMTX	C	0.01%
ARDX	D	0.01%
WINA	D	0.01%
CAKE	D	0.01%
PLAB	F	0.01%
TCBK	D	0.01%
VMEO	C	0.01%
DAWN	D	0.01%
VERA	C	0.01%
NVAX	D	0.01%
ECPG	D	0.01%
SAFT	D	0.01%
UNIT	C	0.01%
MYRG	F	0.01%
GABC	C	0.01%
INBK	D	0.01%
BILI	C	0.01%
ANDE	D	0.01%
BCRX	C	0.01%
RNW	C	0.01%
DCOM	B	0.01%
VECO	F	0.01%
MSEX	C	0.01%
NAVI	C	0.01%
TLRY	F	0.01%
INVA	B	0.01%
DVAX	D	0.01%
LKFN	C	0.01%
RCKT	D	0.01%
AXNX	B	0.01%
CENTA	F	0.01%
HLIT	C	0.01%
IDCC	C	0.01%
AHCO	C	0.01%
FIVN	F	0.01%
HAIN	D	0.01%
PRDO	D	0.01%
TTMI	D	0.01%
HEES	D	0.01%
SIMO	F	0.01%
APPN	D	0.01%
IAS	D	0.01%
CHEF	D	0.01%
SUPN	C	0.01%
NWBI	C	0.01%
VBTX	B	0.01%
SEDG	F	0.01%
RPD	F	0.01%
VC	F	0.01%
COGT	C	0.01%
PAGP	C	0.01%
SYBT	A	0.01%
PDCO	F	0.01%
SBLK	D	0.01%
SNDX	F	0.01%
ARVN	F	0.01%
AY	C	0.01%
KURA	D	0.01%
CNXN	B	0.01%
ROIC	C	0.01%
BUSE	C	0.01%
SKWD	C	0.01%
NTCT	C	0.01%
FWRD	C	0.01%
PGNY	F	0.01%
HTZ	F	0.01%
XRX	D	0.01%
NEO	C	0.01%
HOPE	B	0.01%
EWTX	B	0.01%
OSW	C	0.01%
PTVE	D	0.01%
EXTR	C	0.01%
GDS	B	0.01%
WSBC	D	0.01%
FRME	D	0.01%
CASH	B	0.01%
GTX	F	0.01%
HPK	D	0.01%
INFN	B	0.01%
DOOO	F	0.01%
OLPX	C	0.01%
LAUR	C	0.01%
BVS	C	0.01%
NVCR	D	0.01%
CHCO	B	0.01%
EVCM	D	0.01%
PRVA	F	0.01%
JANX	C	0.01%
RRR	D	0.01%
WERN	D	0.01%
SPNS	D	0.01%
STRA	F	0.01%
PCT	C	0.01%
GGAL	B	0.01%
DNUT	D	0.01%
CRTO	D	0.01%
TRMK	C	0.01%
IRTC	F	0.01%
GT	F	0.01%
MGNI	D	0.01%
BANR	B	0.01%
LGND	C	0.01%
SBCF	C	0.01%
ROCK	D	0.01%
EFSC	C	0.01%
STBA	B	0.01%
MNKD	C	0.01%
YY	C	0.01%
VIAV	D	0.01%
HURN	C	0.01%
KLIC	F	0.01%
RXST	C	0.01%
MLKN	D	0.01%
TRUP	C	0.01%
CMPR	F	0.01%
HRMY	B	0.01%
MGPI	D	0.01%
FFBC	D	0.01%
POWL	C	0.01%
CLBK	C	0.01%
ARCB	D	0.01%
LMAT	C	0.01%
JBLU	D	0.01%
LGIH	C	0.01%
XPEL	D	0.01%
NMRK	A	0.01%
MBIN	D	0.01%
TWST	D	0.01%
PLUG	F	0.01%
FBNC	B	0.01%
ATRC	C	0.01%
ADUS	B	0.01%
MYGN	C	0.01%
LIVN	D	0.01%
GOGL	D	0.01%
INDB	C	0.01%
ATSG	D	0.01%
ENVX	F	0.01%
ALRM	F	0.01%
AKRO	C	0.01%
AMRX	B	0.01%
VCEL	D	0.01%
VRNA	C	0.01%
RBCAA	B	0.01%
BEAM	F	0.01%
MGRC	F	0.01%
SVC	D	0.01%
PPBI	D	0.01%
FROG	F	0.01%
DIOD	F	0.01%
CARG	B	0.01%
MIRM	D	0.01%
KROS	C	0.01%
CVBF	D	0.01%
CGON	C	0.01%
BL	D	0.01%
NBTB	D	0.01%
USLM	B	0.01%
MQ	F	0.01%
ACLS	F	0.01%
SKYW	C	0.01%
VERX	D	0.01%
PRGS	C	0.01%
PSMT	B	0.01%
FRSH	F	0.01%
FULT	D	0.01%
ZD	D	0.01%
JAMF	D	0.01%
GERN	D	0.01%
ERII	D	0.01%
OSIS	D	0.01%
TNDM	C	0.01%
ERIC	B	0.01%
AMPH	C	0.01%
NWE	B	0.01%
IOSP	D	0.01%
PLUS	A	0.01%
PLMR	C	0.01%
NARI	F	0.01%
UFPT	B	0.01%
DRVN	C	0.01%
PRFT	B	0.01%
PTCT	C	0.01%
OMCL	C	0.01%
IOVA	C	0.01%
XNCR	C	0.01%
DYN	D	0.01%
MRCY	D	0.01%
SNEX	B	0.01%
FLNC	C	0.01%
UPST	C	0.01%
IBTX	B	0.01%
ACAD	F	0.01%
BRZE	F	0.01%
SYNA	F	0.01%
AGIO	C	0.01%
HTLF	B	0.01%
CPRX	B	0.01%
LILAK	D	0.01%
EBC	B	0.01%
ASTE	D	0.01%
AGYS	D	0.01%
SWTX	F	0.01%
ASTH	B	0.01%
BZ	F	0.01%
TOWN	B	0.01%
GSHD	C	0.01%
IDYA	F	0.01%
HUBG	C	0.01%
MRUS	D	0.01%
HWKN	C	0.01%
ALHC	C	0.01%
QFIN	B	0.01%
SFNC	B	0.01%
URBN	F	0.01%
SHOO	B	0.01%
FORM	F	0.01%
CATY	C	0.01%
ROAD	B	0.01%
ARWR	F	0.01%
ARLP	D	0.01%
OTTR	F	0.01%
FIBK	B	0.01%
PATK	B	0.01%
VCYT	B	0.01%
TBBK	B	0.01%
POWI	F	0.01%
TRMD	C	0.01%
FTDR	B	0.01%
FA	B	0.01%
ACVA	B	0.01%
CALM	A	0.01%
LFST	C	0.01%
SMPL	D	0.01%
MGEE	B	0.01%
RNA	D	0.01%
LI	D	0.01%
ALKT	D	0.01%
DORM	B	0.01%
RYTM	B	0.01%
CLDX	C	0.01%
PTGX	C	0.01%
XENE	D	0.01%
WSFS	D	0.01%
JJSF	C	0.01%
WDFC	C	0.01%
STNE	F	0.01%
VICR	D	0.01%
WAFD	C	0.01%
GH	D	0.01%
ICFI	B	0.01%
NEOG	D	0.01%
RUSHA	C	0.01%

ONEQ Underweight 514 Positions Relative to IWS

Symbol	Grade	Weight
AFL	C	-0.71%
AJG	D	-0.69%
DHI	B	-0.66%
WMB	B	-0.63%
O	C	-0.62%
OKE	B	-0.61%
DLR	B	-0.59%
BK	B	-0.59%
CCI	C	-0.59%
FIS	B	-0.54%
KVUE	C	-0.51%
LEN	B	-0.51%
LHX	C	-0.5%
GIS	B	-0.48%
ALL	B	-0.48%
PRU	C	-0.48%
PEG	C	-0.48%
PCG	C	-0.48%
KMI	B	-0.47%
CMI	C	-0.47%
CNC	D	-0.46%
A	C	-0.46%
SPG	B	-0.45%
CTVA	B	-0.45%
OTIS	C	-0.44%
IQV	C	-0.44%
AME	C	-0.44%
HUM	F	-0.44%
EXR	B	-0.43%
CBRE	A	-0.42%
FERG	D	-0.42%
IR	C	-0.42%
URI	B	-0.42%
KR	C	-0.42%
VICI	C	-0.41%
HWM	B	-0.41%
ED	C	-0.41%
NUE	F	-0.4%
DOW	D	-0.4%
DD	B	-0.39%
HIG	B	-0.39%
DFS	C	-0.38%
AVB	B	-0.38%
EIX	C	-0.37%
GLW	C	-0.37%
XYL	D	-0.36%
MLM	D	-0.35%
WEC	C	-0.35%
EQR	B	-0.34%
WAB	A	-0.34%
PPG	D	-0.34%
ADM	D	-0.34%
EFX	B	-0.34%
AWK	B	-0.33%
DAL	C	-0.33%
PHM	B	-0.33%
MTD	D	-0.33%
NVR	B	-0.32%
MTB	B	-0.32%
GPN	D	-0.32%
GRMN	D	-0.31%
ETR	B	-0.31%
PWR	B	-0.31%
ROK	D	-0.31%
FTV	C	-0.3%
HLT	B	-0.3%
RCL	B	-0.3%
DTE	C	-0.3%
KEYS	C	-0.3%
VTR	C	-0.3%
RMD	C	-0.3%
IFF	B	-0.3%
STT	B	-0.29%
DOV	B	-0.29%
CHD	D	-0.29%
HSY	C	-0.29%
FE	C	-0.29%
STE	C	-0.28%
LYB	D	-0.28%
HAL	F	-0.28%
HPQ	D	-0.28%
DVN	F	-0.28%
YUM	D	-0.27%
VMC	D	-0.27%
WY	C	-0.27%
ES	C	-0.27%
PPL	C	-0.27%
RJF	C	-0.26%
AEE	C	-0.26%
INVH	C	-0.26%
COO	B	-0.25%
ARE	C	-0.25%
HUBB	B	-0.25%
ZBH	F	-0.25%
CBOE	C	-0.25%
HPE	D	-0.25%
ATO	B	-0.24%
BALL	C	-0.24%
SQ	D	-0.24%
CMS	C	-0.24%
LDOS	B	-0.24%
MKC	C	-0.24%
K	B	-0.24%
BBY	C	-0.24%
BLDR	C	-0.23%
ESS	B	-0.23%
TDY	B	-0.23%
LNG	C	-0.23%
BAX	C	-0.23%
RF	B	-0.23%
SYF	C	-0.22%
GPC	D	-0.22%
MAA	B	-0.22%
OMC	B	-0.22%
J	C	-0.21%
SUI	B	-0.21%
MSCI	C	-0.21%
AVTR	B	-0.21%
WRB	C	-0.21%
TRU	B	-0.21%
EQT	D	-0.21%
CFG	C	-0.21%
DG	F	-0.21%
LH	C	-0.21%
PKG	B	-0.21%
APTV	D	-0.21%
DGX	B	-0.2%
LUV	C	-0.2%
CCL	C	-0.2%
TSN	C	-0.2%
MAS	B	-0.2%
CNP	C	-0.2%
WSO	C	-0.19%
TXT	D	-0.19%
IP	B	-0.19%
CTRA	F	-0.19%
CSL	B	-0.19%
CAG	C	-0.18%
MKL	C	-0.18%
UDR	C	-0.18%
SWK	B	-0.18%
TOL	B	-0.18%
THC	A	-0.18%
RS	D	-0.18%
FNF	B	-0.18%
AMCR	B	-0.18%
KIM	C	-0.18%
DOC	C	-0.18%
SYY	D	-0.17%
SNA	C	-0.17%
IRM	C	-0.17%
CF	C	-0.17%
GEN	B	-0.17%
MRO	D	-0.17%
VLTO	C	-0.17%
RVTY	B	-0.17%
KEY	B	-0.17%
IEX	D	-0.17%
PNR	B	-0.17%
NI	B	-0.17%
BG	D	-0.16%
WPC	C	-0.16%
USFD	B	-0.16%
AMH	C	-0.16%
GGG	C	-0.16%
EG	C	-0.16%
BRO	C	-0.16%
ELS	C	-0.16%
RGA	C	-0.16%
EXPD	C	-0.16%
OC	D	-0.16%
L	C	-0.16%
CLH	A	-0.15%
CPT	B	-0.15%
AES	C	-0.15%
ACM	B	-0.15%
UHS	B	-0.15%
RNR	C	-0.15%
RPM	B	-0.14%
CW	B	-0.14%
CUBE	C	-0.14%
EMN	B	-0.14%
ALLE	B	-0.14%
JNPR	B	-0.14%
SJM	C	-0.14%
BXP	B	-0.14%
HES	F	-0.14%
FDS	C	-0.13%
NVT	D	-0.13%
AVY	C	-0.13%
CAH	C	-0.13%
ITT	B	-0.13%
EME	B	-0.13%
DKS	D	-0.13%
BLD	D	-0.13%
JBL	D	-0.13%
SCI	B	-0.13%
KMX	D	-0.13%
TFX	C	-0.13%
SW	B	-0.13%
IPG	C	-0.13%
CRL	F	-0.12%
ATR	B	-0.12%
AIZ	B	-0.12%
ALB	D	-0.12%
RRX	C	-0.12%
NLY	B	-0.12%
COHR	C	-0.12%
PNW	C	-0.12%
HII	D	-0.12%
UNM	B	-0.12%
CE	F	-0.12%
NRG	C	-0.12%
OVV	F	-0.12%
FBIN	B	-0.12%
FTI	D	-0.12%
CACI	B	-0.12%
EPAM	F	-0.12%
CCK	A	-0.12%
BJ	D	-0.12%
CTLT	B	-0.12%
REXR	C	-0.12%
EHC	C	-0.11%
HRL	C	-0.11%
TAP	D	-0.11%
AOS	D	-0.11%
PFGC	B	-0.11%
GL	C	-0.11%
CVNA	B	-0.11%
FRT	C	-0.11%
SOLV	C	-0.11%
TPR	C	-0.11%
AFG	B	-0.11%
WTRG	D	-0.11%
FWONK	C	-0.11%
ARMK	B	-0.11%
OHI	B	-0.11%
JLL	B	-0.1%
KNX	C	-0.1%
TWLO	D	-0.1%
MHK	C	-0.1%
DCI	C	-0.1%
MOS	F	-0.1%
SNX	D	-0.1%
WST	D	-0.1%
SF	A	-0.1%
BRX	B	-0.1%
NYT	C	-0.1%
FHN	D	-0.1%
TTC	D	-0.1%
EVR	A	-0.1%
WAL	B	-0.1%
MGM	F	-0.1%
INGR	B	-0.1%
NNN	C	-0.1%
EGP	B	-0.1%
PRI	B	-0.1%
ORI	B	-0.1%
CNH	D	-0.1%
DRI	B	-0.1%
DPZ	F	-0.1%
GPK	B	-0.1%
DTM	B	-0.09%
FR	B	-0.09%
CR	C	-0.09%
WSM	D	-0.09%
WAT	C	-0.09%
WEX	C	-0.09%
ADC	C	-0.09%
LAD	D	-0.09%
FND	C	-0.09%
KBR	D	-0.09%
VOYA	B	-0.09%
BERY	B	-0.09%
JEF	B	-0.09%
AXTA	B	-0.09%
ATI	D	-0.09%
ALSN	B	-0.09%
BRBR	C	-0.09%
CMA	B	-0.09%
MOH	D	-0.09%
WBS	D	-0.09%
GWRE	A	-0.09%
CHE	C	-0.09%
AR	F	-0.09%
FCN	D	-0.09%
GMED	D	-0.09%
ALLY	F	-0.09%
APG	D	-0.09%
TKO	B	-0.09%
AYI	B	-0.09%
FMC	C	-0.09%
DAY	D	-0.09%
ACI	F	-0.09%
X	F	-0.09%
CIEN	C	-0.09%
RBC	C	-0.09%
AA	D	-0.09%
OGE	C	-0.09%
COLD	D	-0.09%
SKX	D	-0.09%
OSK	F	-0.08%
PB	B	-0.08%
MSA	D	-0.08%
SNV	C	-0.08%
FAF	B	-0.08%
PR	F	-0.08%
ARW	C	-0.08%
MTG	B	-0.08%
RL	C	-0.08%
RRC	D	-0.08%
SWN	D	-0.08%
KEX	C	-0.08%
G	C	-0.08%
BFAM	C	-0.08%
SSD	D	-0.08%
WCC	D	-0.08%
FICO	B	-0.08%
HRB	C	-0.08%
MTZ	B	-0.08%
HR	C	-0.08%
BWXT	D	-0.08%
ELAN	D	-0.08%
ONTO	D	-0.08%
HLI	B	-0.08%
STAG	C	-0.08%
DINO	F	-0.08%
BWA	D	-0.08%
BEN	F	-0.07%
AGCO	D	-0.07%
POST	C	-0.07%
ESI	D	-0.07%
IVZ	B	-0.07%
RITM	B	-0.07%
RLI	B	-0.07%
GXO	D	-0.07%
LEA	F	-0.07%
SIRI	C	-0.07%
AZPN	B	-0.07%
R	A	-0.07%
WMS	D	-0.07%
FLS	D	-0.07%
BBWI	F	-0.07%
AXS	B	-0.07%
NOV	F	-0.07%
BIO	C	-0.07%
LW	D	-0.07%
STWD	A	-0.07%
VNO	C	-0.07%
CART	A	-0.07%
CFR	C	-0.07%
VFC	C	-0.07%
RHI	D	-0.07%
CCCS	D	-0.06%
LNC	D	-0.06%
HXL	F	-0.06%
UGI	C	-0.06%
FNB	C	-0.06%
VNT	F	-0.06%
TKR	D	-0.06%
ST	D	-0.06%
OLN	D	-0.06%
WHR	D	-0.06%
THO	D	-0.06%
IDA	C	-0.06%
KD	D	-0.06%
ALK	C	-0.06%
OGN	D	-0.06%
THG	B	-0.06%
OMF	D	-0.06%
BC	C	-0.06%
AMG	C	-0.06%
MTDR	F	-0.06%
PVH	F	-0.06%
H	C	-0.06%
SON	C	-0.06%
SN	B	-0.06%
VMI	D	-0.06%
GME	F	-0.06%
NFG	B	-0.06%
MDU	C	-0.06%
DAR	F	-0.06%
WH	B	-0.06%
GWW	B	-0.06%
ESAB	C	-0.06%
SITE	C	-0.05%
BILL	D	-0.05%
UHAL	A	-0.05%
M	F	-0.05%
ROIV	C	-0.05%
DLB	F	-0.05%
GNRC	D	-0.05%
BYD	C	-0.05%
PII	D	-0.05%
GAP	F	-0.05%
SLGN	B	-0.05%
KRC	C	-0.05%
CPRI	D	-0.05%
FLO	C	-0.05%
AN	D	-0.05%
W	D	-0.05%
ASH	D	-0.05%
S	C	-0.05%
WTM	D	-0.05%
AGO	C	-0.05%
DOCS	B	-0.05%
CUZ	B	-0.05%
PSN	B	-0.05%
AL	D	-0.05%
HOG	C	-0.05%
JHG	B	-0.05%
RYN	C	-0.05%
WLK	D	-0.05%
AM	C	-0.04%
PAYC	D	-0.04%
PLNT	B	-0.04%
ZI	D	-0.04%
U	D	-0.04%
NVST	D	-0.04%
LBTYA	B	-0.04%
SPR	D	-0.04%
MAN	C	-0.04%
NSA	B	-0.04%
HIW	B	-0.04%
MSGS	B	-0.04%
LBTYK	B	-0.04%
GTES	C	-0.04%
DNB	C	-0.04%
COTY	F	-0.04%
MSM	D	-0.04%
KMPR	D	-0.04%
HUN	D	-0.04%
EPR	B	-0.04%
AWI	B	-0.04%
TYL	C	-0.04%
CLF	F	-0.04%
MPW	C	-0.04%
NEU	D	-0.04%
PRGO	D	-0.04%
CIVI	F	-0.04%
DXC	C	-0.04%
RH	B	-0.04%
AMP	A	-0.04%
BR	D	-0.03%
KSS	F	-0.03%
JWN	C	-0.03%
EXP	B	-0.03%
ENOV	D	-0.03%
CNM	F	-0.03%
YETI	D	-0.03%
HHH	C	-0.03%
CWEN	C	-0.03%
AAP	F	-0.03%
CC	F	-0.03%
QDEL	D	-0.03%
VAC	F	-0.03%
CRI	D	-0.03%
AGR	B	-0.03%
SEE	D	-0.03%
CLVT	D	-0.03%
SPB	C	-0.03%
RKT	C	-0.03%
VNOM	C	-0.03%
PAG	D	-0.03%
CXT	D	-0.03%
TNL	D	-0.03%
WU	F	-0.03%
PK	D	-0.03%
SMG	C	-0.03%
SNDR	B	-0.02%
TRIP	F	-0.02%
UAA	C	-0.02%
UA	D	-0.02%
GO	F	-0.02%
INFA	D	-0.02%
LEG	D	-0.02%
AS	C	-0.02%
MP	D	-0.02%
BIRK	F	-0.02%
PSTG	F	-0.02%
BROS	D	-0.02%
LPX	B	-0.02%
LLYVK	B	-0.02%
HAYW	C	-0.02%
IPGP	F	-0.02%
AZEK	C	-0.02%
VSTS	D	-0.02%
SAM	F	-0.02%
LEN	B	-0.02%
ADT	D	-0.02%
GLOB	D	-0.02%
QS	F	-0.02%
LAZ	B	-0.01%
UI	B	-0.01%
CHH	C	-0.01%
PATH	D	-0.01%
LLYVA	B	-0.01%
SEB	D	-0.01%
ALAB	D	-0.01%
CWEN	C	-0.01%
MTN	D	-0.01%
WOLF	F	-0.01%
DV	F	-0.01%
DDS	F	-0.01%
FWONA	C	-0.01%
CERT	F	-0.01%
CNA	C	-0.01%
SEG	C	-0.0%
LOAR	C	-0.0%
PARAA	D	-0.0%
UHAL	A	-0.0%
UWMC	D	-0.0%
GRAL	F	-0.0%
DJT	F	-0.0%