PRF vs. FNCL ETF Comparison

Comparison of Powershares FTSE RAFI US 1000 Portfolio (PRF) to Fidelity MSCI Financials Index ETF (FNCL)

PRF

Powershares FTSE RAFI US 1000 Portfolio

PRF Description

The PowerShares FTSE RAFI US 1000 Portfolio (Fund) is based on the FTSE RAFI US 1000 Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to track the performance of the largest US equities, selected based on the following four fundamental measures of firm size: book value, cash flow, sales and dividends. The 1,000 equities with the highest fundamental strength are weighted by their fundamental scores. The Fund and the Index are reconstituted annually.

Grade (RS Rating)

Last Trade

$42.12

Average Daily Volume

211,779

Number of Holdings ^*

982

* may have additional holdings in another (foreign) market

FNCL

Fidelity MSCI Financials Index ETF

FNCL Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Financials Index. Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Financials Index, which represents the performance of the financial sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Financials Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$71.68

Average Daily Volume

112,716

Number of Holdings ^*

380

* may have additional holdings in another (foreign) market

Performance

Period	PRF	FNCL
30 Days	2.81%	7.55%
60 Days	4.61%	11.91%
90 Days	6.08%	14.78%
12 Months	29.30%	47.47%

169 Overlapping Holdings

Symbol	Grade	Weight in PRF	Weight in FNCL	Overlap
ABCB	B	0.02%	0.06%	0.02%
ABR	C	0.01%	0.03%	0.01%
ACGL	C	0.07%	0.46%	0.07%
AFG	A	0.05%	0.13%	0.05%
AFL	B	0.2%	0.74%	0.2%
AGNC	C	0.02%	0.08%	0.02%
AGO	B	0.02%	0.06%	0.02%
AIG	B	0.31%	0.63%	0.31%
AIZ	A	0.04%	0.15%	0.04%
AJG	A	0.07%	0.8%	0.07%
ALL	A	0.2%	0.64%	0.2%
ALLY	C	0.08%	0.12%	0.08%
AMG	B	0.02%	0.07%	0.02%
AMP	A	0.1%	0.69%	0.1%
AON	A	0.07%	0.91%	0.07%
APAM	B	0.01%	0.04%	0.01%
APO	B	0.05%	0.81%	0.05%
ARES	A	0.02%	0.39%	0.02%
ARI	C	0.01%	0.02%	0.01%
ASB	B	0.02%	0.05%	0.02%
AUB	B	0.01%	0.04%	0.01%
AXP	A	0.29%	2.05%	0.29%
AXS	A	0.03%	0.09%	0.03%
BAC	A	1.37%	4.0%	1.37%
BEN	C	0.04%	0.08%	0.04%
BFH	C	0.04%	0.01%	0.01%
BHF	C	0.03%	0.04%	0.03%
BK	A	0.27%	0.71%	0.27%
BKU	A	0.02%	0.04%	0.02%
BLK	B	0.33%	1.93%	0.33%
BOKF	B	0.01%	0.04%	0.01%
BPOP	C	0.03%	0.09%	0.03%
BRK.A	B	2.34%	7.67%	2.34%
BRO	B	0.03%	0.33%	0.03%
BX	A	0.13%	1.6%	0.13%
BXMT	C	0.02%	0.04%	0.02%
C	A	1.14%	1.61%	1.14%
CADE	B	0.02%	0.08%	0.02%
CATY	B	0.02%	0.04%	0.02%
CB	C	0.3%	1.37%	0.3%
CBOE	C	0.02%	0.26%	0.02%
CBSH	B	0.02%	0.11%	0.02%
CFG	B	0.16%	0.27%	0.16%
CFR	B	0.02%	0.1%	0.02%
CG	B	0.03%	0.15%	0.03%
CINF	A	0.08%	0.29%	0.08%
CMA	B	0.06%	0.11%	0.06%
CME	B	0.14%	0.99%	0.14%
CNO	B	0.03%	0.06%	0.03%
COF	C	0.41%	0.87%	0.41%
COIN	C	0.03%	0.66%	0.03%
COLB	B	0.02%	0.08%	0.02%
COOP	B	0.03%	0.08%	0.03%
CPAY	A	0.04%	0.31%	0.04%
DFS	B	0.2%	0.54%	0.2%
EEFT	B	0.01%	0.06%	0.01%
EG	C	0.05%	0.2%	0.05%
EQH	C	0.06%	0.19%	0.06%
ESGR	B	0.01%	0.05%	0.01%
ESNT	F	0.02%	0.07%	0.02%
EVR	B	0.02%	0.14%	0.02%
EWBC	A	0.04%	0.18%	0.04%
FAF	A	0.04%	0.08%	0.04%
FCNCA	A	0.03%	0.27%	0.03%
FDS	B	0.02%	0.23%	0.02%
FFBC	B	0.01%	0.03%	0.01%
FHB	B	0.02%	0.05%	0.02%
FHN	A	0.05%	0.14%	0.05%
FI	A	0.22%	1.53%	0.22%
FIBK	B	0.01%	0.04%	0.01%
FIS	C	0.15%	0.61%	0.15%
FITB	B	0.14%	0.4%	0.14%
FNB	A	0.03%	0.08%	0.03%
FNF	B	0.07%	0.19%	0.07%
FULT	A	0.02%	0.04%	0.02%
GBCI	B	0.02%	0.08%	0.02%
GL	C	0.03%	0.13%	0.03%
GNW	A	0.02%	0.04%	0.02%
GPN	B	0.07%	0.37%	0.07%
GS	A	0.78%	2.35%	0.78%
HBAN	A	0.12%	0.32%	0.12%
HIG	B	0.14%	0.43%	0.14%
HOMB	A	0.02%	0.07%	0.02%
HOOD	B	0.03%	0.21%	0.03%
HWC	B	0.02%	0.06%	0.02%
ICE	C	0.12%	1.11%	0.12%
INDB	B	0.01%	0.04%	0.01%
IVZ	B	0.06%	0.07%	0.06%
JEF	A	0.07%	0.15%	0.07%
JHG	B	0.03%	0.08%	0.03%
JKHY	D	0.02%	0.16%	0.02%
JPM	A	2.2%	8.6%	2.2%
JXN	C	0.09%	0.09%	0.09%
KEY	B	0.11%	0.23%	0.11%
KKR	A	0.13%	1.16%	0.13%
KMPR	A	0.02%	0.06%	0.02%
L	A	0.06%	0.2%	0.06%
LNC	C	0.07%	0.07%	0.07%
LPLA	A	0.03%	0.29%	0.03%
MA	B	0.17%	5.35%	0.17%
MC	C	0.02%	0.06%	0.02%
MCO	B	0.06%	0.98%	0.06%
MET	A	0.29%	0.63%	0.29%
MKL	A	0.08%	0.28%	0.08%
MMC	B	0.13%	1.35%	0.13%
MS	A	0.58%	2.0%	0.58%
MSCI	C	0.02%	0.59%	0.02%
MTB	A	0.16%	0.44%	0.16%
MTG	C	0.02%	0.08%	0.02%
NAVI	F	0.02%	0.02%	0.02%
NDAQ	A	0.03%	0.42%	0.03%
NTRS	A	0.1%	0.27%	0.1%
OMF	A	0.05%	0.09%	0.05%
ONB	C	0.02%	0.09%	0.02%
ORI	A	0.06%	0.12%	0.06%
OZK	B	0.02%	0.06%	0.02%
PB	B	0.03%	0.1%	0.03%
PFG	D	0.1%	0.25%	0.1%
PFSI	C	0.01%	0.05%	0.01%
PGR	A	0.25%	1.87%	0.25%
PMT	C	0.01%	0.02%	0.01%
PNC	B	0.37%	1.03%	0.37%
PNFP	B	0.03%	0.12%	0.03%
PPBI	C	0.01%	0.03%	0.01%
PRI	B	0.02%	0.13%	0.02%
PRU	A	0.23%	0.56%	0.23%
PYPL	B	0.2%	1.05%	0.2%
RDN	D	0.02%	0.07%	0.02%
RF	A	0.12%	0.3%	0.12%
RGA	A	0.06%	0.19%	0.06%
RJF	A	0.07%	0.39%	0.07%
RLI	A	0.01%	0.09%	0.01%
RNR	C	0.02%	0.17%	0.02%
SCHW	B	0.18%	1.5%	0.18%
SEIC	B	0.01%	0.11%	0.01%
SF	B	0.03%	0.15%	0.03%
SFNC	C	0.02%	0.04%	0.02%
SIGI	C	0.01%	0.07%	0.01%
SLM	A	0.02%	0.06%	0.02%
SNV	C	0.04%	0.11%	0.04%
SOFI	B	0.02%	0.17%	0.02%
SPGI	C	0.17%	2.02%	0.17%
SQ	A	0.07%	0.58%	0.07%
SSB	B	0.02%	0.1%	0.02%
STT	B	0.16%	0.35%	0.16%
STWD	C	0.04%	0.07%	0.04%
SYF	B	0.23%	0.32%	0.23%
TCBI	C	0.02%	0.05%	0.02%
TFC	A	0.36%	0.77%	0.36%
THG	A	0.02%	0.07%	0.02%
TROW	B	0.09%	0.33%	0.09%
TRV	B	0.24%	0.73%	0.24%
UBSI	B	0.02%	0.07%	0.02%
UCB	A	0.01%	0.04%	0.01%
UMBF	B	0.02%	0.07%	0.02%
UNM	A	0.08%	0.16%	0.08%
USB	A	0.38%	0.98%	0.38%
V	A	0.25%	6.01%	0.25%
VLY	B	0.03%	0.06%	0.03%
VOYA	B	0.03%	0.1%	0.03%
WAL	B	0.03%	0.12%	0.03%
WBS	A	0.04%	0.13%	0.04%
WEX	D	0.01%	0.09%	0.01%
WFC	A	1.29%	3.14%	1.29%
WRB	A	0.04%	0.23%	0.04%
WTFC	A	0.03%	0.11%	0.03%
WTW	B	0.07%	0.4%	0.07%
WU	F	0.03%	0.03%	0.03%
ZION	B	0.05%	0.11%	0.05%

PRF Overweight 813 Positions Relative to FNCL

Symbol	Grade	Weight
AAPL	C	2.3%
XOM	B	2.24%
MSFT	D	1.86%
AMZN	C	1.74%
VZ	C	1.19%
T	A	1.18%
WMT	A	1.16%
CVX	A	1.16%
UNH	B	1.06%
GOOGL	C	1.03%
META	D	0.96%
JNJ	C	0.92%
GOOG	C	0.89%
GM	C	0.79%
CMCSA	B	0.78%
PFE	F	0.77%
HD	B	0.73%
PG	C	0.71%
PM	B	0.66%
CSCO	B	0.64%
ABBV	F	0.57%
COST	A	0.56%
IBM	C	0.53%
CVS	D	0.53%
MO	A	0.52%
AVGO	D	0.5%
PEP	F	0.48%
KO	D	0.47%
RTX	D	0.47%
INTC	C	0.45%
MCK	A	0.45%
MMM	D	0.42%
BMY	B	0.42%
COP	C	0.42%
DIS	B	0.42%
MRK	D	0.41%
DUK	C	0.4%
F	C	0.39%
NEE	C	0.38%
TSLA	B	0.37%
CI	D	0.37%
GILD	C	0.37%
SO	C	0.36%
MDT	D	0.35%
CAT	B	0.34%
TXN	C	0.34%
LOW	C	0.34%
LMT	D	0.34%
TMUS	B	0.33%
VLO	C	0.33%
ABT	B	0.32%
AMGN	F	0.32%
UPS	C	0.32%
ORCL	A	0.32%
FDX	B	0.31%
QCOM	F	0.31%
MU	D	0.31%
KR	B	0.31%
MPC	D	0.31%
HON	C	0.3%
KMI	A	0.3%
MCD	D	0.29%
PSX	C	0.29%
CAH	B	0.29%
TGT	F	0.29%
LIN	C	0.28%
ELV	F	0.28%
EOG	A	0.27%
COR	B	0.26%
NVDA	B	0.26%
D	C	0.26%
CRM	B	0.25%
UNP	C	0.25%
ACN	B	0.25%
CHTR	C	0.25%
WMB	A	0.24%
GE	D	0.23%
CNC	D	0.22%
DE	B	0.22%
TMO	F	0.22%
NFLX	A	0.21%
ADM	D	0.21%
LLY	F	0.21%
EXC	C	0.2%
AEP	C	0.2%
HPQ	B	0.19%
TJX	A	0.19%
HPE	B	0.19%
SRE	A	0.19%
OKE	A	0.18%
GD	D	0.18%
DOW	F	0.18%
JCI	B	0.18%
ETN	A	0.18%
MDLZ	F	0.18%
ADI	D	0.17%
DD	C	0.17%
NOC	D	0.17%
SBUX	A	0.17%
DHR	F	0.16%
NEM	D	0.16%
WELL	A	0.16%
APD	A	0.16%
WBD	B	0.16%
XEL	A	0.15%
EMR	B	0.15%
VST	A	0.15%
AMD	F	0.15%
AMT	C	0.15%
ETR	B	0.15%
ED	C	0.15%
PEG	A	0.15%
PLD	F	0.15%
TSN	B	0.15%
CMI	A	0.15%
IP	A	0.15%
HCA	F	0.15%
CSX	C	0.14%
SYY	D	0.14%
BBY	D	0.14%
PPL	A	0.14%
EIX	B	0.14%
KHC	F	0.14%
LYB	F	0.14%
FCX	F	0.14%
ADP	A	0.14%
PCAR	B	0.14%
HUM	C	0.14%
CBRE	B	0.13%
WM	B	0.13%
BDX	F	0.13%
OXY	D	0.13%
ZIM	C	0.13%
GIS	D	0.13%
DLR	B	0.13%
CL	D	0.13%
NSC	B	0.13%
SLB	C	0.13%
KMB	C	0.13%
CEG	C	0.13%
NUE	C	0.12%
BKR	A	0.12%
LHX	C	0.12%
BSX	A	0.12%
CCI	C	0.12%
LUMN	C	0.12%
DHI	F	0.12%
NKE	F	0.12%
SPG	A	0.12%
LEN	D	0.12%
THC	D	0.12%
PARA	C	0.12%
SYK	B	0.12%
AMAT	F	0.12%
ITW	B	0.12%
GLW	B	0.12%
ES	C	0.11%
NRG	B	0.11%
PH	A	0.11%
URI	C	0.11%
WEC	A	0.11%
VTR	B	0.11%
CARR	C	0.11%
WBA	F	0.11%
BA	F	0.11%
PCG	A	0.11%
ADBE	C	0.11%
EQIX	A	0.1%
O	C	0.1%
DTE	C	0.1%
CTSH	B	0.1%
REGN	F	0.1%
BG	D	0.1%
BKNG	A	0.1%
TT	A	0.1%
DVN	F	0.1%
FE	C	0.1%
WDC	D	0.1%
TRGP	A	0.1%
GEV	B	0.1%
VRTX	D	0.09%
USFD	A	0.09%
AER	A	0.09%
WY	F	0.09%
BIIB	F	0.09%
VTRS	A	0.09%
KDP	F	0.09%
SHW	B	0.09%
EBAY	D	0.09%
INTU	B	0.09%
AEE	A	0.09%
CTVA	C	0.09%
EVRG	A	0.08%
GEHC	D	0.08%
FLEX	B	0.08%
CHRW	B	0.08%
PFGC	B	0.08%
FANG	C	0.08%
NXPI	D	0.08%
ISRG	A	0.08%
IFF	D	0.08%
ARW	D	0.08%
K	A	0.08%
APH	A	0.08%
KMX	B	0.08%
AVB	B	0.08%
EQR	C	0.08%
IRM	C	0.08%
OMC	C	0.08%
PPG	F	0.07%
STZ	D	0.07%
HAL	C	0.07%
DGX	A	0.07%
LNG	A	0.07%
VFC	C	0.07%
TDG	D	0.07%
STX	C	0.07%
SWK	D	0.07%
AZO	C	0.07%
DOC	C	0.07%
CAG	F	0.07%
EQT	B	0.07%
VICI	C	0.07%
MSI	B	0.07%
CMS	C	0.07%
CTRA	B	0.07%
MRO	B	0.07%
PAYX	B	0.07%
STLD	B	0.07%
PSA	C	0.07%
PHM	D	0.07%
CCL	A	0.07%
CNP	A	0.07%
LRCX	F	0.07%
ACI	C	0.07%
AA	A	0.07%
ECL	D	0.07%
NTAP	C	0.06%
BLDR	D	0.06%
MHK	D	0.06%
ZTS	D	0.06%
MAR	A	0.06%
GWW	B	0.06%
WCC	B	0.06%
ATO	A	0.06%
OTIS	C	0.06%
LH	B	0.06%
VNO	C	0.06%
MOS	F	0.06%
CRBG	B	0.06%
CF	A	0.06%
PWR	A	0.06%
PNW	A	0.06%
ROST	D	0.06%
LAD	A	0.06%
CTAS	B	0.06%
LDOS	C	0.06%
FAST	B	0.06%
PKG	A	0.06%
WAB	B	0.06%
UAL	A	0.06%
ORLY	B	0.06%
WHR	B	0.06%
BXP	C	0.06%
NI	A	0.06%
GEN	B	0.06%
ARE	F	0.06%
EMN	C	0.06%
RSG	A	0.06%
FYBR	C	0.06%
ROP	B	0.06%
JLL	D	0.06%
R	B	0.06%
GRMN	B	0.06%
MRVL	B	0.06%
UGI	C	0.05%
INVH	D	0.05%
DXC	B	0.05%
TSCO	D	0.05%
DRI	B	0.05%
HWM	A	0.05%
ZBH	C	0.05%
HBI	B	0.05%
SJM	D	0.05%
TWLO	A	0.05%
BALL	F	0.05%
UBER	F	0.05%
CLX	A	0.05%
NVR	D	0.05%
ACM	B	0.05%
ESS	B	0.05%
UHS	D	0.05%
MCHP	F	0.05%
X	B	0.05%
RS	B	0.05%
ROK	C	0.05%
MOH	F	0.05%
SFM	A	0.05%
BAP	A	0.05%
MAA	B	0.05%
KIM	A	0.05%
BAX	F	0.05%
BJ	A	0.05%
TOL	B	0.05%
AN	C	0.05%
OC	A	0.05%
BWA	D	0.05%
TAP	C	0.05%
M	F	0.05%
KLAC	F	0.05%
RCL	A	0.05%
YUM	D	0.05%
AES	F	0.05%
CNH	C	0.05%
IQV	F	0.05%
SOLV	D	0.05%
DOV	A	0.05%
TDS	B	0.05%
JBL	C	0.05%
LNT	A	0.05%
DG	F	0.05%
KD	B	0.05%
GPC	D	0.05%
AWK	C	0.05%
FOXA	A	0.05%
HES	B	0.05%
AVT	C	0.04%
CHD	A	0.04%
SUI	C	0.04%
CPT	B	0.04%
WPC	C	0.04%
DINO	D	0.04%
GT	C	0.04%
HST	C	0.04%
SSNC	B	0.04%
TPR	B	0.04%
PBF	D	0.04%
NOW	A	0.04%
ZBRA	B	0.04%
HOLX	D	0.04%
UDR	B	0.04%
DVA	C	0.04%
EXR	C	0.04%
A	D	0.04%
UTHR	C	0.04%
LEA	F	0.04%
INGR	C	0.04%
ABG	C	0.04%
TMHC	C	0.04%
J	D	0.04%
ON	D	0.04%
REG	A	0.04%
APA	D	0.04%
EXPE	B	0.04%
CDW	F	0.04%
SNX	D	0.04%
APTV	F	0.04%
DLTR	F	0.04%
CCK	D	0.04%
NWL	C	0.04%
TDY	B	0.04%
KSS	F	0.04%
HAS	D	0.04%
MGM	D	0.04%
CASY	A	0.04%
EXPD	C	0.04%
LKQ	F	0.04%
SLG	B	0.04%
MRNA	F	0.04%
OGE	A	0.04%
MLM	C	0.04%
BERY	C	0.04%
TTWO	A	0.04%
MKC	C	0.04%
CCEP	C	0.04%
OVV	B	0.04%
EME	A	0.04%
TXT	D	0.04%
GPI	B	0.04%
AR	B	0.04%
IPG	D	0.04%
HSY	F	0.04%
MTZ	B	0.04%
VMC	B	0.04%
EA	A	0.04%
MPW	F	0.04%
SNA	A	0.04%
DAL	B	0.04%
AME	A	0.04%
PK	C	0.03%
OLN	F	0.03%
ICLR	D	0.03%
ELAN	D	0.03%
CMC	B	0.03%
ALV	C	0.03%
DASH	B	0.03%
MAN	F	0.03%
CLF	F	0.03%
KRC	B	0.03%
GAP	C	0.03%
AXTA	B	0.03%
DAR	C	0.03%
AGCO	D	0.03%
OSK	C	0.03%
WTRG	B	0.03%
SCI	B	0.03%
LBRDK	C	0.03%
VRSK	A	0.03%
CTLT	C	0.03%
RIG	D	0.03%
ALSN	B	0.03%
ODFL	C	0.03%
JBHT	C	0.03%
BAH	F	0.03%
CAR	C	0.03%
TRMB	B	0.03%
GXO	B	0.03%
GNRC	C	0.03%
ZM	C	0.03%
XYL	D	0.03%
STE	D	0.03%
LAMR	C	0.03%
FOX	A	0.03%
BECN	B	0.03%
AL	B	0.03%
CPNG	D	0.03%
FLR	B	0.03%
THO	B	0.03%
CPRT	B	0.03%
PNR	A	0.03%
EW	C	0.03%
JWN	D	0.03%
SANM	B	0.03%
FSLR	F	0.03%
GLPI	C	0.03%
NWSA	A	0.03%
CNX	A	0.03%
TRU	D	0.03%
KEYS	A	0.03%
RRX	B	0.03%
EFX	F	0.03%
OHI	C	0.03%
BRX	A	0.03%
GEO	B	0.03%
HUBB	B	0.03%
CZR	F	0.03%
AVY	F	0.03%
GPK	C	0.03%
MTH	D	0.03%
SNPS	B	0.03%
WSO	A	0.03%
CMG	B	0.03%
RVTY	F	0.03%
CACI	D	0.03%
BURL	B	0.03%
MNST	C	0.03%
ALB	B	0.03%
MAS	D	0.03%
ARMK	B	0.03%
KNX	C	0.03%
OGN	F	0.03%
JNPR	D	0.03%
PENN	C	0.03%
BR	A	0.03%
FTV	C	0.03%
CSL	C	0.03%
FMC	D	0.03%
HSIC	C	0.03%
AVTR	F	0.03%
CPB	D	0.03%
ANET	C	0.03%
COHR	B	0.03%
SPOT	B	0.03%
HLT	A	0.03%
DKS	D	0.03%
HRL	D	0.03%
LVS	B	0.03%
RPM	A	0.03%
MUSA	B	0.03%
IR	B	0.03%
WSM	C	0.03%
RMD	C	0.03%
DTM	A	0.03%
SWKS	F	0.03%
CDP	C	0.02%
TKR	D	0.02%
VEEV	C	0.02%
MSM	C	0.02%
BWXT	B	0.02%
WDAY	B	0.02%
ASGN	F	0.02%
CHRD	D	0.02%
PCH	F	0.02%
RH	C	0.02%
BLD	D	0.02%
HP	C	0.02%
GGG	B	0.02%
APLE	B	0.02%
RIVN	F	0.02%
TTMI	C	0.02%
ALGN	D	0.02%
DK	C	0.02%
SMG	C	0.02%
OUT	A	0.02%
EPR	C	0.02%
LNW	F	0.02%
AIT	B	0.02%
ADNT	F	0.02%
GHC	B	0.02%
POOL	C	0.02%
AVA	A	0.02%
LW	C	0.02%
NDSN	B	0.02%
GATX	A	0.02%
TXRH	B	0.02%
RPRX	D	0.02%
COLD	D	0.02%
HCC	B	0.02%
SIG	B	0.02%
Z	A	0.02%
NSIT	F	0.02%
RUSHA	C	0.02%
FLO	D	0.02%
AAL	B	0.02%
ALLE	C	0.02%
QRVO	F	0.02%
LSTR	D	0.02%
GMS	B	0.02%
CRL	D	0.02%
NJR	A	0.02%
MDU	D	0.02%
KRG	B	0.02%
VAC	C	0.02%
ADC	A	0.02%
HUBG	A	0.02%
HLF	C	0.02%
CC	C	0.02%
MKSI	C	0.02%
NVST	B	0.02%
ALE	A	0.02%
CBT	D	0.02%
OI	C	0.02%
MTD	F	0.02%
PII	F	0.02%
SLGN	A	0.02%
NWE	B	0.02%
ST	F	0.02%
CXW	C	0.02%
UHAL	D	0.02%
PAG	B	0.02%
DPZ	C	0.02%
TYL	B	0.02%
AGR	A	0.02%
DY	D	0.02%
DCI	B	0.02%
VMI	B	0.02%
PLXS	B	0.02%
CHKP	C	0.02%
WKC	C	0.02%
GRAB	A	0.02%
KBR	F	0.02%
REZI	A	0.02%
HRI	C	0.02%
MIDD	C	0.02%
WAT	C	0.02%
LUV	C	0.02%
RL	C	0.02%
ITT	A	0.02%
MELI	C	0.02%
UNFI	A	0.02%
DECK	A	0.02%
BTU	B	0.02%
SAIC	F	0.02%
TRN	B	0.02%
SR	A	0.02%
SLVM	B	0.02%
AVNT	B	0.02%
MHO	D	0.02%
PNM	B	0.02%
SEM	B	0.02%
BC	C	0.02%
NVT	B	0.02%
CW	C	0.02%
AYI	B	0.02%
SCCO	F	0.02%
PHIN	A	0.02%
SM	B	0.02%
LYV	A	0.02%
VRT	B	0.02%
OGS	A	0.02%
MAT	D	0.02%
SEE	C	0.02%
CR	A	0.02%
FL	F	0.02%
ELS	C	0.02%
LII	A	0.02%
GDDY	A	0.02%
HOG	D	0.02%
SBAC	D	0.02%
LITE	B	0.02%
G	B	0.02%
ADSK	A	0.02%
TER	F	0.02%
NOV	C	0.02%
JAZZ	B	0.02%
ATR	B	0.02%
POST	C	0.02%
NNN	C	0.02%
CUBE	C	0.02%
EXEL	B	0.02%
LULU	C	0.02%
CE	F	0.02%
TNL	A	0.02%
AAP	D	0.02%
IT	C	0.02%
UFPI	C	0.02%
INCY	C	0.02%
CDNS	B	0.02%
XPO	B	0.02%
PRGO	C	0.02%
FLS	B	0.02%
FBIN	D	0.02%
RHI	C	0.02%
KEX	B	0.02%
IEX	C	0.02%
PVH	C	0.02%
MUR	D	0.02%
SBRA	C	0.02%
VLTO	C	0.02%
FFIV	B	0.02%
GME	C	0.02%
IDA	A	0.02%
BCC	B	0.02%
ANSS	B	0.02%
HIW	C	0.02%
DEI	B	0.02%
SON	F	0.02%
SKX	D	0.02%
CWK	C	0.02%
AKAM	D	0.02%
BKH	A	0.02%
KBH	D	0.02%
CIEN	C	0.02%
POR	C	0.02%
CSGP	D	0.02%
AMH	C	0.02%
ABM	B	0.02%
HUN	F	0.02%
ILMN	C	0.02%
EL	F	0.02%
EHC	B	0.02%
LPX	B	0.02%
MAC	B	0.02%
VSCO	C	0.02%
TPH	D	0.02%
CLH	C	0.02%
NFG	A	0.02%
BBWI	C	0.02%
MLI	B	0.02%
HII	F	0.02%
ULTA	F	0.02%
HRB	D	0.02%
FTI	A	0.02%
BIO	C	0.02%
TGNA	B	0.02%
SWX	B	0.02%
DOX	D	0.02%
CUZ	B	0.02%
NXST	C	0.02%
FRT	B	0.02%
AMN	F	0.01%
FIVE	F	0.01%
CNXC	F	0.01%
HELE	C	0.01%
CLVT	D	0.01%
NUS	D	0.01%
LEN	D	0.01%
VSAT	F	0.01%
JELD	F	0.01%
HEI	A	0.01%
OPCH	D	0.01%
BGS	F	0.01%
STNE	F	0.01%
ZG	A	0.01%
GTN	F	0.01%
XP	F	0.01%
OPEN	F	0.01%
WSC	F	0.01%
AMR	C	0.01%
ODP	F	0.01%
DXCM	C	0.01%
ARCB	C	0.01%
SNOW	B	0.01%
IGT	F	0.01%
ACHC	F	0.01%
DIOD	D	0.01%
CRI	F	0.01%
TROX	D	0.01%
MLKN	F	0.01%
NSP	F	0.01%
HPP	F	0.01%
LGIH	F	0.01%
CBRL	C	0.01%
HEI	A	0.01%
CPRI	F	0.01%
UA	C	0.01%
ATKR	D	0.01%
VSTS	C	0.01%
RLJ	C	0.01%
AMKR	D	0.01%
UAA	C	0.01%
XRAY	F	0.01%
NWS	A	0.01%
OMI	F	0.01%
EGP	D	0.01%
PDCO	F	0.01%
URBN	C	0.01%
SITE	F	0.01%
BXC	B	0.01%
VSH	F	0.01%
ENOV	C	0.01%
CSTM	F	0.01%
AXL	C	0.01%
W	D	0.01%
DRH	B	0.01%
DAN	D	0.01%
UVV	B	0.01%
LXP	D	0.01%
CCS	D	0.01%
CABO	B	0.01%
CRC	A	0.01%
CGNX	D	0.01%
RYN	D	0.01%
ASO	F	0.01%
ASH	F	0.01%
BMRN	F	0.01%
ANDE	D	0.01%
ENTG	D	0.01%
TEX	F	0.01%
LFUS	D	0.01%
JBGS	F	0.01%
THS	D	0.01%
PINC	B	0.01%
HTZ	C	0.01%
UNIT	B	0.01%
FUL	F	0.01%
FND	D	0.01%
IDXX	F	0.01%
FR	D	0.01%
AEO	F	0.01%
BYD	B	0.01%
MTCH	D	0.01%
SAIA	B	0.01%
OKTA	C	0.01%
NOMD	D	0.01%
RUN	F	0.01%
KMT	B	0.01%
SPB	C	0.01%
TPX	B	0.01%
LECO	C	0.01%
PECO	A	0.01%
PTC	B	0.01%
GEF	A	0.01%
LCII	C	0.01%
ENS	F	0.01%
FCN	F	0.01%
ATI	C	0.01%
XRX	F	0.01%
ABNB	C	0.01%
CNM	D	0.01%
SBH	C	0.01%
ESI	B	0.01%
WH	B	0.01%
CIVI	D	0.01%
MMS	F	0.01%
RRC	B	0.01%
AM	A	0.01%
BCO	F	0.01%
GNTX	C	0.01%
ALIT	C	0.01%
WLK	D	0.01%
MTDR	B	0.01%
STAG	D	0.01%
ARCH	B	0.01%
BDN	C	0.01%
EPAM	B	0.01%
VYX	B	0.01%
GTLS	A	0.01%
WERN	C	0.01%
VNT	C	0.01%
FTNT	C	0.01%
IAC	F	0.01%
RXO	D	0.01%
TTC	C	0.01%
LEG	F	0.01%
AOS	F	0.01%
WST	C	0.01%
RGLD	C	0.01%
REXR	F	0.01%
HE	C	0.01%
KNF	B	0.01%
MTN	C	0.01%
WWD	C	0.01%
IRT	A	0.01%
APG	B	0.01%
TFX	F	0.01%
ESAB	C	0.01%
WYNN	C	0.01%
UHAL	D	0.0%
SEDG	F	0.0%
SMCI	F	0.0%
LBRDA	C	0.0%
PARR	F	0.0%

PRF Underweight 211 Positions Relative to FNCL

Symbol	Grade	Weight
IBKR	A	-0.22%
TOST	B	-0.18%
TW	A	-0.18%
AFRM	A	-0.16%
ERIE	D	-0.13%
KNSL	B	-0.13%
OWL	A	-0.13%
MORN	B	-0.12%
HLI	A	-0.12%
MKTX	D	-0.12%
RYAN	A	-0.09%
HLNE	B	-0.09%
FOUR	A	-0.07%
PIPR	A	-0.07%
SFBS	C	-0.06%
WTM	A	-0.06%
FFIN	B	-0.06%
UPST	B	-0.06%
TPG	A	-0.06%
WD	D	-0.05%
BGC	C	-0.05%
PJT	A	-0.05%
STEP	C	-0.05%
IBOC	B	-0.05%
AX	B	-0.05%
VCTR	B	-0.04%
HTLF	B	-0.04%
GSHD	A	-0.04%
CACC	D	-0.04%
BOH	B	-0.04%
NMIH	C	-0.04%
VIRT	A	-0.04%
WAFD	B	-0.04%
CVBF	A	-0.04%
HASI	D	-0.04%
PRK	B	-0.04%
FHI	B	-0.04%
CBU	B	-0.04%
FBP	C	-0.04%
WSFS	B	-0.04%
EBC	B	-0.04%
SYBT	B	-0.03%
NATL	B	-0.03%
AGM	B	-0.03%
FBK	C	-0.03%
PRG	C	-0.03%
FRHC	B	-0.03%
TRMK	C	-0.03%
BANC	B	-0.03%
EVTC	B	-0.03%
DBRG	F	-0.03%
MCY	A	-0.03%
TFIN	B	-0.03%
RNST	B	-0.03%
NBTB	B	-0.03%
EFSC	B	-0.03%
WSBC	B	-0.03%
SBCF	B	-0.03%
IBTX	B	-0.03%
TBBK	B	-0.03%
FLYW	B	-0.03%
BANR	B	-0.03%
BANF	B	-0.03%
OSCR	D	-0.03%
PFS	B	-0.03%
PLMR	A	-0.03%
TOWN	B	-0.03%
CNS	B	-0.03%
FRME	B	-0.03%
PAYO	A	-0.03%
ENVA	B	-0.03%
SNEX	B	-0.03%
OCFC	B	-0.02%
SRCE	B	-0.02%
EIG	B	-0.02%
PEBO	B	-0.02%
BHLB	B	-0.02%
RC	D	-0.02%
ACT	C	-0.02%
GABC	B	-0.02%
WT	A	-0.02%
WABC	B	-0.02%
NBHC	C	-0.02%
NNI	D	-0.02%
NIC	B	-0.02%
HTH	C	-0.02%
VBTX	B	-0.02%
CODI	B	-0.02%
TCBK	C	-0.02%
LOB	C	-0.02%
LADR	B	-0.02%
STBA	B	-0.02%
SPNT	B	-0.02%
MQ	D	-0.02%
QCRH	B	-0.02%
HOPE	C	-0.02%
CUBI	B	-0.02%
HMN	B	-0.02%
BUSE	B	-0.02%
CHCO	B	-0.02%
LMND	B	-0.02%
RKT	F	-0.02%
LC	A	-0.02%
SKWD	A	-0.02%
DFIN	D	-0.02%
LKFN	C	-0.02%
NWBI	B	-0.02%
SASR	B	-0.02%
TRUP	B	-0.02%
VRTS	B	-0.02%
FCF	B	-0.02%
FBNC	B	-0.02%
STC	B	-0.02%
CASH	B	-0.02%
OFG	B	-0.02%
CLBK	C	-0.01%
HONE	C	-0.01%
KRNY	C	-0.01%
CCBG	B	-0.01%
GDOT	D	-0.01%
PX	A	-0.01%
TRTX	C	-0.01%
GSBC	C	-0.01%
UFCS	A	-0.01%
HAFC	B	-0.01%
TREE	F	-0.01%
UWMC	D	-0.01%
NFBK	C	-0.01%
NRDS	C	-0.01%
BHB	C	-0.01%
SPFI	C	-0.01%
AMBC	C	-0.01%
TIPT	C	-0.01%
PGC	B	-0.01%
KREF	C	-0.01%
FMNB	B	-0.01%
TRST	B	-0.01%
MCB	B	-0.01%
EZPW	B	-0.01%
LPRO	B	-0.01%
FSBC	C	-0.01%
THFF	B	-0.01%
CTLP	B	-0.01%
MSBI	B	-0.01%
PAY	A	-0.01%
SMBC	B	-0.01%
UVE	B	-0.01%
IIIV	C	-0.01%
CAC	C	-0.01%
RBCAA	B	-0.01%
EQBK	B	-0.01%
RPAY	D	-0.01%
TFSL	A	-0.01%
IMXI	B	-0.01%
CPF	B	-0.01%
BFST	C	-0.01%
CASS	C	-0.01%
MCBS	B	-0.01%
AMTB	B	-0.01%
FG	A	-0.01%
CFFN	C	-0.01%
FCBC	C	-0.01%
HTBK	B	-0.01%
CMTG	F	-0.01%
PRA	C	-0.01%
PFBC	B	-0.01%
AMAL	B	-0.01%
OSBC	A	-0.01%
EGBN	B	-0.01%
FMBH	B	-0.01%
CCB	A	-0.01%
CFB	B	-0.01%
WASH	C	-0.01%
HFWA	C	-0.01%
TMP	B	-0.01%
PRAA	D	-0.01%
BFC	B	-0.01%
BHRB	B	-0.01%
HBNC	B	-0.01%
BRSP	C	-0.01%
MBIN	F	-0.01%
BSIG	A	-0.01%
DX	B	-0.01%
MBWM	B	-0.01%
RWT	D	-0.01%
BY	B	-0.01%
SBSI	C	-0.01%
OBK	C	-0.01%
ECPG	C	-0.01%
CNOB	B	-0.01%
EFC	C	-0.01%
CTBI	B	-0.01%
CNNE	B	-0.01%
HCI	C	-0.01%
IBCP	B	-0.01%
BRKL	B	-0.01%
FBMS	B	-0.01%
UVSP	B	-0.01%
FBRT	D	-0.01%
AMSF	B	-0.01%
PFC	B	-0.01%
DCOM	B	-0.01%
SAFT	B	-0.01%
AROW	B	-0.0%
RILY	F	-0.0%
GCBC	C	-0.0%
DGICA	A	-0.0%
DHIL	B	-0.0%
HGTY	B	-0.0%
HBT	B	-0.0%
WRLD	C	-0.0%