SPXL vs. MFUS ETF Comparison

Comparison of Direxion Daily S&P 500 Bull 3X Shares (SPXL) to PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS)

SPXL

Direxion Daily S&P 500 Bull 3X Shares

SPXL Description

The investment seeks daily investment results, before fees and expenses, of 300% of the performance of the S&P 500® Index. The fund, under normal circumstances, creates long positions by investing at least 80% of its assets in the securities that comprise the S&P 500® Index ("index") and/or financial instruments that provide leveraged and unleveraged exposure to the index. The index is a capitalization-weighted index composed of 500 domestic common stocks. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$177.55

Average Daily Volume

3,153,514

Number of Holdings ^*

498

* may have additional holdings in another (foreign) market

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

$51.22

Average Daily Volume

5,789

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

Performance

Period	SPXL	MFUS
30 Days	5.75%	0.35%
60 Days	15.78%	4.44%
90 Days	18.92%	6.01%
12 Months	101.79%	31.84%

376 Overlapping Holdings

	Symbol	Grade	Weight in SPXL	Weight in MFUS	Overlap
	A	F	0.05%	0.05%	0.05%
	AAPL	C	4.17%	0.96%	0.96%
	ABBV	F	0.44%	1.65%	0.44%
	ACN	B	0.28%	0.24%	0.24%
	ADBE	C	0.28%	0.04%	0.04%
	ADM	F	0.03%	0.24%	0.03%
	ADP	A	0.15%	0.11%	0.11%
	ADSK	B	0.08%	0.09%	0.08%
	AEP	D	0.06%	0.08%	0.06%
	AES	F	0.01%	0.01%	0.01%
	AFL	C	0.07%	0.21%	0.07%
	AIG	B	0.06%	0.36%	0.06%
	AIZ	A	0.01%	0.08%	0.01%
	AJG	A	0.08%	0.15%	0.08%
	AKAM	F	0.02%	0.03%	0.02%
	ALGN	D	0.02%	0.01%	0.01%
	ALL	B	0.06%	0.25%	0.06%
	AMAT	F	0.19%	0.55%	0.19%
	AMGN	F	0.21%	1.03%	0.21%
	AMP	A	0.07%	0.17%	0.07%
	AMT	F	0.11%	0.15%	0.11%
	AMZN	A	2.38%	1.64%	1.64%
	ANET	C	0.13%	0.15%	0.13%
	ANSS	B	0.04%	0.05%	0.04%
	AON	B	0.1%	0.25%	0.1%
	AOS	F	0.01%	0.09%	0.01%
	APH	B	0.11%	0.12%	0.11%
	ATO	B	0.03%	0.02%	0.02%
	AVB	B	0.04%	0.03%	0.03%
	AVGO	C	1.03%	1.63%	1.03%
	AVY	F	0.02%	0.1%	0.02%
	AXP	B	0.2%	0.22%	0.2%
	AZO	B	0.07%	0.28%	0.07%
	BAC	A	0.38%	0.42%	0.38%
	BALL	D	0.02%	0.07%	0.02%
	BAX	F	0.02%	0.05%	0.02%
	BBY	C	0.02%	0.22%	0.02%
	BDX	F	0.09%	0.12%	0.09%
	BEN	C	0.01%	0.02%	0.01%
	BIIB	F	0.03%	0.07%	0.03%
	BK	B	0.07%	0.18%	0.07%
	BKNG	A	0.21%	0.41%	0.21%
	BKR	B	0.05%	0.07%	0.05%
	BLDR	C	0.03%	0.04%	0.03%
	BMY	B	0.14%	0.4%	0.14%
	BR	A	0.03%	0.16%	0.03%
	BRK.A	B	1.06%	2.36%	1.06%
	BRO	B	0.03%	0.12%	0.03%
	BSX	A	0.16%	0.2%	0.16%
	BWA	B	0.01%	0.01%	0.01%
	BX	A	0.16%	0.12%	0.12%
	BXP	D	0.01%	0.02%	0.01%
	C	B	0.16%	0.65%	0.16%
	CAG	F	0.02%	0.04%	0.02%
	CAH	B	0.03%	0.25%	0.03%
	CARR	C	0.08%	0.05%	0.05%
	CAT	B	0.25%	0.2%	0.2%
	CB	C	0.13%	0.16%	0.13%
	CBRE	B	0.05%	0.05%	0.05%
	CCI	F	0.06%	0.07%	0.06%
	CCL	B	0.03%	0.02%	0.02%
	CDW	F	0.03%	0.03%	0.03%
	CE	F	0.01%	0.04%	0.01%
	CEG	D	0.09%	0.11%	0.09%
	CFG	B	0.03%	0.04%	0.03%
	CHD	A	0.03%	0.07%	0.03%
	CHRW	A	0.02%	0.13%	0.02%
	CHTR	B	0.05%	0.3%	0.05%
	CI	D	0.11%	0.13%	0.11%
	CINF	A	0.03%	0.02%	0.02%
	CL	F	0.09%	0.37%	0.09%
	CLX	A	0.02%	0.13%	0.02%
	CMCSA	B	0.21%	0.16%	0.16%
	CME	B	0.1%	0.14%	0.1%
	CMG	B	0.1%	0.2%	0.1%
	CMI	A	0.06%	0.13%	0.06%
	CMS	D	0.02%	0.03%	0.02%
	CNC	F	0.04%	0.05%	0.04%
	COF	B	0.09%	0.27%	0.09%
	COP	C	0.16%	0.07%	0.07%
	COR	B	0.05%	0.17%	0.05%
	COST	B	0.49%	1.33%	0.49%
	CPAY	A	0.03%	0.03%	0.03%
	CPB	F	0.01%	0.05%	0.01%
	CPRT	A	0.06%	0.08%	0.06%
	CPT	C	0.02%	0.06%	0.02%
	CSCO	A	0.29%	0.65%	0.29%
	CSX	B	0.09%	0.11%	0.09%
	CTAS	B	0.09%	0.19%	0.09%
	CTLT	D	0.01%	0.02%	0.01%
	CTVA	C	0.05%	0.04%	0.04%
	CVS	F	0.1%	0.66%	0.1%
	CVX	A	0.33%	0.39%	0.33%
	D	D	0.06%	0.07%	0.06%
	DD	D	0.04%	0.1%	0.04%
	DECK	B	0.03%	0.16%	0.03%
	DELL	C	0.05%	0.03%	0.03%
	DFS	B	0.06%	0.09%	0.06%
	DG	F	0.02%	0.1%	0.02%
	DGX	B	0.02%	0.09%	0.02%
	DHI	D	0.06%	0.07%	0.06%
	DHR	F	0.2%	0.26%	0.2%
	DLR	C	0.07%	0.09%	0.07%
	DLTR	F	0.02%	0.03%	0.02%
	DOV	A	0.03%	0.02%	0.02%
	DOW	F	0.04%	0.02%	0.02%
	DPZ	C	0.02%	0.13%	0.02%
	DRI	B	0.02%	0.03%	0.02%
	DTE	D	0.03%	0.02%	0.02%
	DUK	D	0.11%	0.14%	0.11%
	DVA	C	0.01%	0.15%	0.01%
	EA	A	0.05%	0.17%	0.05%
	EBAY	C	0.04%	0.36%	0.04%
	ECL	C	0.08%	0.08%	0.08%
	ED	D	0.04%	0.06%	0.04%
	EFX	F	0.04%	0.11%	0.04%
	EIX	C	0.04%	0.05%	0.04%
	ELV	F	0.12%	0.16%	0.12%
	EMN	D	0.01%	0.04%	0.01%
	EMR	A	0.09%	0.08%	0.08%
	EQR	C	0.03%	0.04%	0.03%
	ERIE	F	0.01%	0.05%	0.01%
	ES	D	0.03%	0.04%	0.03%
	ESS	C	0.02%	0.04%	0.02%
	ETR	B	0.04%	0.05%	0.04%
	EVRG	A	0.02%	0.02%	0.02%
	EXC	C	0.05%	0.07%	0.05%
	EXPD	C	0.02%	0.11%	0.02%
	EXR	D	0.04%	0.11%	0.04%
	F	C	0.05%	0.15%	0.05%
	FANG	C	0.04%	0.05%	0.04%
	FAST	B	0.06%	0.13%	0.06%
	FDS	A	0.02%	0.04%	0.02%
	FE	D	0.03%	0.03%	0.03%
	FFIV	B	0.02%	0.06%	0.02%
	FI	A	0.15%	0.18%	0.15%
	FICO	B	0.06%	0.22%	0.06%
	FIS	B	0.06%	0.08%	0.06%
	FITB	A	0.04%	0.04%	0.04%
	FOXA	A	0.01%	0.11%	0.01%
	FTNT	B	0.06%	0.06%	0.06%
	GD	C	0.1%	0.25%	0.1%
	GDDY	B	0.03%	0.11%	0.03%
	GE	D	0.24%	0.56%	0.24%
	GEHC	D	0.05%	0.08%	0.05%
	GEN	B	0.02%	0.1%	0.02%
	GILD	B	0.14%	0.87%	0.14%
	GIS	F	0.05%	0.19%	0.05%
	GLW	B	0.05%	0.21%	0.05%
	GM	B	0.08%	0.37%	0.08%
	GNRC	B	0.01%	0.05%	0.01%
	GS	B	0.23%	0.36%	0.23%
	GWW	B	0.07%	0.21%	0.07%
	HBAN	A	0.03%	0.03%	0.03%
	HCA	D	0.08%	0.27%	0.08%
	HD	B	0.47%	0.62%	0.47%
	HIG	C	0.04%	0.06%	0.04%
	HII	F	0.01%	0.02%	0.01%
	HLT	A	0.07%	0.09%	0.07%
	HOLX	D	0.02%	0.04%	0.02%
	HPE	B	0.03%	0.11%	0.03%
	HPQ	B	0.04%	0.29%	0.04%
	HRL	F	0.01%	0.02%	0.01%
	HSIC	F	0.01%	0.03%	0.01%
	HST	D	0.02%	0.02%	0.02%
	HSY	F	0.03%	0.06%	0.03%
	HUBB	C	0.03%	0.03%	0.03%
	HWM	B	0.06%	0.15%	0.06%
	IBM	D	0.24%	1.07%	0.24%
	ICE	C	0.11%	0.29%	0.11%
	IDXX	F	0.04%	0.05%	0.04%
	IEX	B	0.02%	0.09%	0.02%
	IFF	F	0.03%	0.03%	0.03%
	INCY	B	0.02%	0.01%	0.01%
	INTC	C	0.13%	0.19%	0.13%
	INVH	D	0.02%	0.04%	0.02%
	IP	B	0.03%	0.09%	0.03%
	IPG	F	0.01%	0.04%	0.01%
	IR	A	0.05%	0.08%	0.05%
	IRM	D	0.04%	0.13%	0.04%
	ISRG	A	0.23%	0.28%	0.23%
	IT	B	0.05%	0.14%	0.05%
	ITW	B	0.09%	0.1%	0.09%
	IVZ	B	0.01%	0.03%	0.01%
	JBHT	C	0.02%	0.02%	0.02%
	JBL	C	0.02%	0.03%	0.02%
	JCI	A	0.07%	0.06%	0.06%
	JKHY	C	0.02%	0.11%	0.02%
	JNJ	D	0.47%	1.27%	0.47%
	JNPR	D	0.02%	0.14%	0.02%
	JPM	A	0.87%	0.93%	0.87%
	K	A	0.03%	0.15%	0.03%
	KDP	C	0.05%	0.07%	0.05%
	KEY	B	0.02%	0.02%	0.02%
	KHC	F	0.04%	0.16%	0.04%
	KIM	A	0.02%	0.02%	0.02%
	KKR	B	0.13%	0.14%	0.13%
	KLAC	F	0.11%	0.24%	0.11%
	KMB	D	0.05%	0.17%	0.05%
	KMI	B	0.06%	0.1%	0.06%
	KO	F	0.3%	1.07%	0.3%
	KR	A	0.05%	0.37%	0.05%
	L	A	0.02%	0.06%	0.02%
	LDOS	C	0.03%	0.13%	0.03%
	LEN	D	0.05%	0.07%	0.05%
	LHX	B	0.06%	0.27%	0.06%
	LLY	F	0.75%	2.52%	0.75%
	LMT	D	0.14%	0.78%	0.14%
	LNT	C	0.02%	0.02%	0.02%
	LOW	B	0.18%	0.36%	0.18%
	LRCX	F	0.12%	0.18%	0.12%
	LW	B	0.01%	0.03%	0.01%
	LYB	F	0.03%	0.16%	0.03%
	MA	B	0.53%	0.28%	0.28%
	MAA	C	0.02%	0.02%	0.02%
	MAR	A	0.08%	0.04%	0.04%
	MAS	D	0.02%	0.06%	0.02%
	MCD	C	0.26%	0.54%	0.26%
	MCK	B	0.09%	0.56%	0.09%
	MCO	C	0.09%	0.14%	0.09%
	MDLZ	F	0.11%	0.24%	0.11%
	MET	C	0.06%	0.32%	0.06%
	META	B	1.54%	2.36%	1.54%
	MHK	D	0.01%	0.01%	0.01%
	MKC	D	0.02%	0.06%	0.02%
	MKTX	C	0.01%	0.02%	0.01%
	MLM	B	0.05%	0.07%	0.05%
	MMC	D	0.14%	0.2%	0.14%
	MMM	C	0.09%	0.58%	0.09%
	MNST	B	0.05%	0.07%	0.05%
	MO	A	0.11%	0.73%	0.11%
	MOS	D	0.01%	0.01%	0.01%
	MPC	D	0.06%	0.32%	0.06%
	MPWR	F	0.05%	0.08%	0.05%
	MRK	F	0.31%	0.89%	0.31%
	MRO	B	0.02%	0.03%	0.02%
	MS	A	0.2%	0.2%	0.2%
	MSCI	B	0.06%	0.07%	0.06%
	MSI	B	0.1%	0.19%	0.1%
	MTB	A	0.04%	0.04%	0.04%
	MTD	F	0.04%	0.09%	0.04%
	MU	D	0.15%	0.17%	0.15%
	NDAQ	B	0.04%	0.05%	0.04%
	NDSN	B	0.02%	0.04%	0.02%
	NEE	D	0.19%	0.24%	0.19%
	NEM	F	0.06%	0.18%	0.06%
	NFLX	A	0.41%	0.48%	0.41%
	NI	A	0.02%	0.02%	0.02%
	NKE	F	0.11%	0.06%	0.06%
	NOC	D	0.09%	0.37%	0.09%
	NOW	A	0.25%	0.34%	0.25%
	NRG	C	0.02%	0.07%	0.02%
	NSC	B	0.08%	0.07%	0.07%
	NTAP	D	0.03%	0.1%	0.03%
	NTRS	A	0.03%	0.03%	0.03%
	NUE	D	0.05%	0.08%	0.05%
	NVDA	A	4.42%	1.82%	1.82%
	NVR	D	0.04%	0.1%	0.04%
	NWSA	B	0.01%	0.04%	0.01%
	O	D	0.06%	0.06%	0.06%
	ODFL	B	0.05%	0.02%	0.02%
	OKE	A	0.07%	0.09%	0.07%
	OMC	A	0.03%	0.06%	0.03%
	ORCL	A	0.36%	1.42%	0.36%
	ORLY	A	0.09%	0.2%	0.09%
	OTIS	D	0.05%	0.08%	0.05%
	PANW	B	0.15%	0.23%	0.15%
	PARA	B	0.01%	0.01%	0.01%
	PAYX	B	0.06%	0.04%	0.04%
	PEG	C	0.05%	0.06%	0.05%
	PEP	D	0.28%	0.76%	0.28%
	PFE	F	0.19%	0.62%	0.19%
	PFG	C	0.02%	0.01%	0.01%
	PG	C	0.47%	1.03%	0.47%
	PGR	A	0.19%	0.57%	0.19%
	PH	A	0.11%	0.14%	0.11%
	PHM	D	0.03%	0.1%	0.03%
	PKG	B	0.03%	0.1%	0.03%
	PLTR	B	0.14%	0.16%	0.14%
	PM	B	0.24%	0.92%	0.24%
	PNC	B	0.1%	0.11%	0.1%
	PNR	A	0.02%	0.02%	0.02%
	PNW	A	0.01%	0.01%	0.01%
	POOL	D	0.02%	0.07%	0.02%
	PPG	F	0.04%	0.05%	0.04%
	PPL	A	0.03%	0.04%	0.03%
	PRU	B	0.06%	0.23%	0.06%
	PSA	D	0.06%	0.1%	0.06%
	PSX	C	0.07%	0.22%	0.07%
	PTC	B	0.03%	0.04%	0.03%
	PWR	B	0.06%	0.12%	0.06%
	PYPL	A	0.1%	0.12%	0.1%
	QCOM	F	0.24%	0.8%	0.24%
	QRVO	F	0.01%	0.01%	0.01%
	RCL	A	0.07%	0.09%	0.07%
	REGN	F	0.11%	0.4%	0.11%
	RF	A	0.03%	0.02%	0.02%
	RL	B	0.01%	0.03%	0.01%
	RMD	C	0.04%	0.17%	0.04%
	ROL	C	0.02%	0.06%	0.02%
	ROP	A	0.07%	0.06%	0.06%
	RSG	B	0.05%	0.13%	0.05%
	RTX	D	0.2%	0.22%	0.2%
	RVTY	C	0.02%	0.01%	0.01%
	SBAC	D	0.03%	0.03%	0.03%
	SBUX	B	0.13%	0.1%	0.1%
	SCHW	B	0.14%	0.05%	0.05%
	SHW	A	0.11%	0.22%	0.11%
	SJM	F	0.02%	0.04%	0.02%
	SLB	C	0.08%	0.01%	0.01%
	SMCI	F	0.01%	0.08%	0.01%
	SO	D	0.12%	0.13%	0.12%
	SPG	A	0.07%	0.16%	0.07%
	SPGI	C	0.19%	0.29%	0.19%
	SRE	B	0.07%	0.07%	0.07%
	STE	D	0.03%	0.08%	0.03%
	STLD	C	0.03%	0.04%	0.03%
	STZ	D	0.04%	0.06%	0.04%
	SYF	B	0.03%	0.27%	0.03%
	SYY	D	0.05%	0.13%	0.05%
	T	A	0.2%	0.74%	0.2%
	TAP	B	0.01%	0.08%	0.01%
	TDG	D	0.1%	0.15%	0.1%
	TER	F	0.02%	0.03%	0.02%
	TFC	B	0.08%	0.08%	0.08%
	TFX	F	0.01%	0.03%	0.01%
	TGT	C	0.08%	0.75%	0.08%
	TJX	A	0.16%	0.36%	0.16%
	TMO	F	0.26%	0.3%	0.26%
	TMUS	A	0.14%	0.42%	0.14%
	TPR	A	0.01%	0.01%	0.01%
	TRGP	B	0.05%	0.1%	0.05%
	TROW	A	0.03%	0.09%	0.03%
	TRV	B	0.07%	0.2%	0.07%
	TSCO	D	0.04%	0.11%	0.04%
	TSN	B	0.02%	0.17%	0.02%
	TTWO	A	0.03%	0.07%	0.03%
	TXN	B	0.24%	0.3%	0.24%
	TYL	B	0.03%	0.08%	0.03%
	UAL	A	0.04%	0.01%	0.01%
	UBER	F	0.19%	0.22%	0.19%
	UDR	C	0.02%	0.03%	0.02%
	UHS	D	0.01%	0.06%	0.01%
	ULTA	C	0.02%	0.04%	0.02%
	UNH	B	0.68%	0.77%	0.68%
	UNP	D	0.19%	0.51%	0.19%
	UPS	C	0.12%	0.25%	0.12%
	URI	B	0.07%	0.09%	0.07%
	USB	B	0.1%	0.1%	0.1%
	V	A	0.63%	0.3%	0.3%
	VLO	C	0.05%	0.16%	0.05%
	VLTO	D	0.03%	0.04%	0.03%
	VRSK	A	0.05%	0.16%	0.05%
	VRSN	C	0.02%	0.04%	0.02%
	VRTX	B	0.16%	0.23%	0.16%
	VST	B	0.05%	0.2%	0.05%
	VTR	C	0.03%	0.04%	0.03%
	VTRS	B	0.02%	0.13%	0.02%
	VZ	D	0.21%	1.03%	0.21%
	WAB	B	0.04%	0.05%	0.04%
	WAT	B	0.03%	0.06%	0.03%
	WBA	D	0.01%	0.13%	0.01%
	WDC	D	0.03%	0.08%	0.03%
	WELL	B	0.1%	0.12%	0.1%
	WFC	A	0.3%	0.87%	0.3%
	WM	A	0.1%	0.28%	0.1%
	WMB	B	0.08%	0.1%	0.08%
	WMT	A	0.45%	1.72%	0.45%
	WRB	B	0.02%	0.02%	0.02%
	WST	B	0.03%	0.05%	0.03%
	WTW	A	0.04%	0.11%	0.04%
	XOM	B	0.66%	0.44%	0.44%
	XYL	F	0.04%	0.11%	0.04%
	YUM	B	0.05%	0.14%	0.05%
	ZBRA	B	0.03%	0.04%	0.03%
	ZTS	D	0.1%	0.05%	0.05%

SPXL Overweight 122 Positions Relative to MFUS

	Symbol	Grade	Weight
	MSFT	C	3.85%
	GOOGL	C	1.27%
	GOOG	C	1.06%
	TSLA	B	0.99%
	CRM	B	0.37%
	AMD	F	0.29%
	LIN	D	0.27%
	ABT	C	0.25%
	DIS	B	0.22%
	INTU	A	0.22%
	ETN	B	0.18%
	HON	B	0.17%
	SYK	A	0.16%
	ADI	D	0.14%
	MDT	D	0.14%
	DE	D	0.13%
	PLD	D	0.13%
	BA	F	0.13%
	TT	B	0.11%
	GEV	B	0.11%
	CDNS	B	0.1%
	EQIX	B	0.1%
	SNPS	C	0.1%
	EOG	A	0.09%
	CRWD	B	0.09%
	ABNB	C	0.08%
	FDX	B	0.08%
	FCX	F	0.08%
	APD	B	0.08%
	NXPI	F	0.07%
	PCAR	B	0.07%
	ROST	D	0.06%
	XEL	A	0.05%
	ACGL	C	0.05%
	IQV	F	0.05%
	VMC	B	0.05%
	CTSH	A	0.05%
	HES	B	0.05%
	MCHP	F	0.05%
	EW	F	0.05%
	DAL	A	0.05%
	KVUE	A	0.05%
	PCG	A	0.05%
	AME	A	0.05%
	STT	B	0.04%
	GPN	B	0.04%
	RJF	A	0.04%
	WEC	B	0.04%
	CSGP	F	0.04%
	ON	F	0.04%
	GRMN	A	0.04%
	VICI	D	0.04%
	AXON	B	0.04%
	ROK	B	0.04%
	OXY	F	0.04%
	HUM	D	0.04%
	LULU	B	0.04%
	FSLR	F	0.03%
	CBOE	D	0.03%
	EXPE	B	0.03%
	STX	D	0.03%
	ZBH	C	0.03%
	TDY	B	0.03%
	WY	F	0.03%
	AEE	B	0.03%
	EQT	B	0.03%
	DVN	F	0.03%
	FTV	C	0.03%
	AWK	D	0.03%
	SW	B	0.03%
	HAL	C	0.03%
	DXCM	C	0.03%
	KEYS	C	0.03%
	NCLH	B	0.02%
	ALLE	D	0.02%
	DAY	B	0.02%
	SWK	F	0.02%
	APTV	F	0.02%
	SWKS	F	0.02%
	AMCR	D	0.02%
	EL	F	0.02%
	CF	B	0.02%
	DOC	C	0.02%
	EG	D	0.02%
	TXT	D	0.02%
	PODD	B	0.02%
	GPC	D	0.02%
	MRNA	F	0.02%
	ARE	F	0.02%
	TRMB	B	0.02%
	LVS	C	0.02%
	CTRA	B	0.02%
	J	D	0.02%
	SNA	A	0.02%
	WBD	B	0.02%
	LUV	B	0.02%
	CNP	B	0.02%
	MOH	F	0.02%
	LH	B	0.02%
	LYV	A	0.02%
	FOX	A	0.01%
	FMC	F	0.01%
	WYNN	C	0.01%
	HAS	D	0.01%
	FRT	B	0.01%
	MGM	D	0.01%
	CZR	F	0.01%
	APA	F	0.01%
	MTCH	F	0.01%
	GL	B	0.01%
	LKQ	C	0.01%
	ENPH	F	0.01%
	SOLV	C	0.01%
	CRL	C	0.01%
	PAYC	B	0.01%
	ALB	C	0.01%
	EPAM	B	0.01%
	REG	A	0.01%
	TECH	D	0.01%
	KMX	B	0.01%
	BG	D	0.01%
	NWS	B	0.0%

SPXL Underweight 439 Positions Relative to MFUS

	Symbol	Grade	Weight
	THC	B	-0.28%
	ANF	C	-0.25%
	SFM	B	-0.24%
	LII	B	-0.21%
	UTHR	B	-0.19%
	WSM	F	-0.19%
	BAH	C	-0.18%
	CASY	B	-0.16%
	WSO	B	-0.16%
	MUSA	B	-0.15%
	RPM	A	-0.13%
	EVR	B	-0.12%
	CW	C	-0.11%
	CACI	C	-0.11%
	BWXT	B	-0.11%
	AYI	A	-0.1%
	CRS	B	-0.1%
	JXN	C	-0.1%
	DASH	A	-0.1%
	ALSN	B	-0.1%
	ARES	B	-0.09%
	GPI	B	-0.09%
	LSTR	B	-0.09%
	CALM	B	-0.09%
	EHC	B	-0.09%
	TMHC	B	-0.09%
	ABG	B	-0.08%
	HCC	C	-0.08%
	HRB	D	-0.08%
	HLI	B	-0.08%
	AEO	F	-0.08%
	WCC	B	-0.08%
	ITT	A	-0.08%
	ATR	A	-0.08%
	SEIC	A	-0.08%
	DKS	D	-0.08%
	EQH	B	-0.08%
	GPK	D	-0.08%
	MLI	B	-0.08%
	SLG	C	-0.08%
	CNX	B	-0.07%
	EXP	B	-0.07%
	COIN	B	-0.07%
	R	B	-0.07%
	SCI	B	-0.07%
	BCC	B	-0.07%
	ALNY	D	-0.07%
	GLPI	D	-0.07%
	THO	B	-0.07%
	LPX	A	-0.07%
	VNO	C	-0.07%
	BTU	C	-0.06%
	ATGE	C	-0.06%
	CMC	B	-0.06%
	NXST	C	-0.06%
	FCN	F	-0.06%
	KTB	A	-0.06%
	LECO	C	-0.06%
	CHE	D	-0.06%
	GAP	B	-0.06%
	TPH	C	-0.06%
	TW	B	-0.06%
	BC	D	-0.06%
	WEN	C	-0.06%
	SEE	C	-0.06%
	MMS	F	-0.06%
	TXRH	A	-0.06%
	JLL	C	-0.06%
	LPLA	A	-0.06%
	RGA	A	-0.06%
	PK	C	-0.06%
	AMG	B	-0.06%
	AN	C	-0.06%
	MSM	C	-0.06%
	CCK	D	-0.06%
	MTH	D	-0.06%
	TTC	F	-0.06%
	TOL	B	-0.06%
	INGR	B	-0.06%
	BERY	D	-0.06%
	APP	B	-0.06%
	WU	F	-0.06%
	UFPI	B	-0.06%
	SKYW	B	-0.06%
	URBN	C	-0.05%
	CRBG	C	-0.05%
	NFG	D	-0.05%
	OGN	F	-0.05%
	MTN	C	-0.05%
	SMG	D	-0.05%
	USFD	B	-0.05%
	COOP	B	-0.05%
	GVA	B	-0.05%
	HBI	B	-0.05%
	G	B	-0.05%
	EXEL	B	-0.05%
	GNTX	C	-0.05%
	SLGN	B	-0.05%
	TEX	D	-0.05%
	VIRT	B	-0.05%
	CRI	D	-0.05%
	ALLY	C	-0.05%
	POST	D	-0.05%
	SUI	F	-0.05%
	BFH	B	-0.05%
	CBT	C	-0.05%
	IBKR	A	-0.05%
	LUMN	C	-0.05%
	LAMR	D	-0.05%
	NSIT	F	-0.05%
	SLM	A	-0.05%
	FCNCA	B	-0.05%
	SQ	B	-0.05%
	FIX	B	-0.05%
	DOX	C	-0.04%
	AMH	C	-0.04%
	TRN	B	-0.04%
	BJ	B	-0.04%
	CDP	C	-0.04%
	WH	A	-0.04%
	ACM	B	-0.04%
	SEM	C	-0.04%
	SON	F	-0.04%
	CLH	B	-0.04%
	AVT	C	-0.04%
	BDC	C	-0.04%
	LANC	C	-0.04%
	ELS	B	-0.04%
	AGNC	C	-0.04%
	CVLT	B	-0.04%
	JWN	B	-0.04%
	SANM	C	-0.04%
	RUSHA	B	-0.04%
	PSTG	D	-0.04%
	HUBG	A	-0.04%
	PRIM	B	-0.04%
	WTM	A	-0.04%
	GBX	A	-0.04%
	SLVM	C	-0.04%
	HEI	A	-0.04%
	BHF	B	-0.04%
	AROC	B	-0.04%
	FLO	F	-0.04%
	GEO	B	-0.04%
	OLN	F	-0.04%
	UNM	A	-0.04%
	FL	F	-0.04%
	CMA	A	-0.04%
	ATI	F	-0.04%
	LOPE	B	-0.04%
	FTI	B	-0.04%
	NBIX	C	-0.04%
	CPNG	B	-0.04%
	GATX	B	-0.04%
	TKR	F	-0.04%
	JHG	A	-0.04%
	SIG	B	-0.04%
	CRUS	F	-0.04%
	ARW	F	-0.04%
	EME	B	-0.04%
	MAC	B	-0.04%
	CUBE	D	-0.04%
	AR	B	-0.04%
	RS	C	-0.04%
	KD	A	-0.04%
	TDS	C	-0.04%
	RGLD	C	-0.04%
	CNO	B	-0.04%
	THG	A	-0.04%
	SRCL	B	-0.04%
	TGNA	B	-0.04%
	MHO	D	-0.04%
	MOG.A	B	-0.04%
	ABM	B	-0.04%
	FLEX	B	-0.04%
	DCI	A	-0.04%
	UNF	B	-0.03%
	XRAY	F	-0.03%
	DRH	C	-0.03%
	HXL	F	-0.03%
	ORA	B	-0.03%
	BKE	A	-0.03%
	RYN	F	-0.03%
	APAM	B	-0.03%
	OI	C	-0.03%
	OMF	A	-0.03%
	BURL	C	-0.03%
	FNF	C	-0.03%
	WPC	F	-0.03%
	WHR	B	-0.03%
	LNC	B	-0.03%
	VC	F	-0.03%
	FHI	A	-0.03%
	BKU	A	-0.03%
	MAN	F	-0.03%
	AMKR	F	-0.03%
	PRG	B	-0.03%
	CG	B	-0.03%
	PLXS	C	-0.03%
	DDS	B	-0.03%
	APLE	B	-0.03%
	COHR	C	-0.03%
	LBRDK	C	-0.03%
	MC	B	-0.03%
	BFAM	F	-0.03%
	RLI	A	-0.03%
	GMS	B	-0.03%
	GNW	B	-0.03%
	TPX	B	-0.03%
	GGG	B	-0.03%
	AVA	C	-0.03%
	X	D	-0.03%
	AVTR	F	-0.03%
	RPRX	F	-0.03%
	SM	C	-0.03%
	MASI	B	-0.03%
	DBRG	F	-0.03%
	SHOO	D	-0.03%
	MATX	B	-0.03%
	XPO	B	-0.03%
	BLD	F	-0.03%
	ASO	F	-0.03%
	OSK	B	-0.03%
	HOOD	B	-0.03%
	NYT	C	-0.03%
	KBH	D	-0.03%
	MANH	C	-0.03%
	MORN	B	-0.03%
	COLD	F	-0.03%
	AWI	B	-0.03%
	PHIN	B	-0.02%
	REZI	A	-0.02%
	HE	F	-0.02%
	TTMI	B	-0.02%
	DNOW	B	-0.02%
	ZION	B	-0.02%
	SSNC	C	-0.02%
	LAUR	B	-0.02%
	WAL	B	-0.02%
	LXP	D	-0.02%
	SNV	B	-0.02%
	BHE	C	-0.02%
	UHAL	D	-0.02%
	SATS	D	-0.02%
	AA	C	-0.02%
	AXTA	A	-0.02%
	JBLU	C	-0.02%
	CSL	B	-0.02%
	LEG	F	-0.02%
	TTEK	F	-0.02%
	OSIS	B	-0.02%
	VSH	F	-0.02%
	ANDE	D	-0.02%
	TDC	F	-0.02%
	LAD	B	-0.02%
	HNI	B	-0.02%
	APG	C	-0.02%
	HP	C	-0.02%
	WKC	C	-0.02%
	SNDR	B	-0.02%
	NSP	F	-0.02%
	BRKR	F	-0.02%
	NAVI	D	-0.02%
	MDU	D	-0.02%
	ODP	F	-0.02%
	RHI	B	-0.02%
	PMT	D	-0.02%
	VFC	C	-0.02%
	VVV	B	-0.02%
	M	C	-0.02%
	RLJ	C	-0.02%
	OC	A	-0.02%
	EPC	F	-0.02%
	LNW	F	-0.02%
	APOG	B	-0.02%
	PFSI	D	-0.02%
	SAM	B	-0.02%
	YELP	C	-0.02%
	PBF	F	-0.02%
	NWL	B	-0.02%
	AIR	B	-0.02%
	SXT	B	-0.02%
	NTCT	B	-0.02%
	VSCO	B	-0.02%
	GWRE	A	-0.02%
	MCY	B	-0.02%
	XHR	B	-0.02%
	DLB	D	-0.02%
	SKX	F	-0.02%
	EWBC	B	-0.02%
	OHI	C	-0.02%
	DORM	B	-0.02%
	AGCO	F	-0.02%
	HAE	B	-0.02%
	PAG	B	-0.02%
	SBH	A	-0.02%
	CC	C	-0.02%
	GHC	B	-0.02%
	FAF	C	-0.02%
	HOG	D	-0.02%
	CXW	B	-0.02%
	KBR	D	-0.02%
	GEF	B	-0.02%
	WMS	F	-0.02%
	RRC	B	-0.02%
	KSS	D	-0.02%
	KMPR	A	-0.02%
	DK	D	-0.02%
	PVH	C	-0.02%
	THS	F	-0.02%
	MSA	D	-0.02%
	STC	C	-0.02%
	MTG	C	-0.02%
	VSTO	A	-0.02%
	GMED	B	-0.02%
	COKE	C	-0.02%
	ADNT	D	-0.02%
	PDCO	F	-0.02%
	LZB	B	-0.02%
	PINC	B	-0.02%
	NEU	C	-0.02%
	PSN	C	-0.02%
	PNM	B	-0.02%
	ACA	B	-0.02%
	WERN	B	-0.02%
	JEF	B	-0.02%
	AAP	C	-0.01%
	SVC	F	-0.01%
	NOV	C	-0.01%
	KNX	C	-0.01%
	CPRI	F	-0.01%
	DINO	D	-0.01%
	SCL	C	-0.01%
	UHAL	D	-0.01%
	RKT	F	-0.01%
	ELAN	C	-0.01%
	MLKN	D	-0.01%
	MKSI	C	-0.01%
	CACC	D	-0.01%
	IMKTA	B	-0.01%
	CNXN	C	-0.01%
	WOR	F	-0.01%
	ECPG	C	-0.01%
	ARI	C	-0.01%
	IGT	F	-0.01%
	RDN	C	-0.01%
	HTH	B	-0.01%
	ACI	C	-0.01%
	GIII	C	-0.01%
	UVV	B	-0.01%
	SR	C	-0.01%
	WGO	B	-0.01%
	SSB	B	-0.01%
	ARCH	B	-0.01%
	CVI	F	-0.01%
	ALEX	B	-0.01%
	UGI	D	-0.01%
	SEB	F	-0.01%
	OUT	B	-0.01%
	PB	B	-0.01%
	XRX	F	-0.01%
	SWX	B	-0.01%
	ARMK	B	-0.01%
	KALU	C	-0.01%
	CNS	C	-0.01%
	CENTA	C	-0.01%
	ESI	B	-0.01%
	SHO	D	-0.01%
	SPR	F	-0.01%
	WAFD	B	-0.01%
	JELD	F	-0.01%
	JBGS	F	-0.01%
	SIGI	B	-0.01%
	PECO	B	-0.01%
	AMED	F	-0.01%
	WMK	B	-0.01%
	CLF	F	-0.01%
	CFR	B	-0.01%
	OMI	F	-0.01%
	BRC	B	-0.01%
	DY	C	-0.01%
	FDP	B	-0.01%
	STRA	C	-0.01%
	DAN	D	-0.01%
	FELE	B	-0.01%
	SPB	A	-0.01%
	LEA	F	-0.01%
	CNM	D	-0.01%
	KN	B	-0.01%
	ONB	B	-0.01%
	PPC	C	-0.01%
	CBSH	A	-0.01%
	IDCC	B	-0.01%
	TNET	C	-0.01%
	FHN	A	-0.01%
	DXC	B	-0.01%
	CROX	F	-0.01%
	CSGS	B	-0.01%
	WTFC	B	-0.01%
	CADE	B	-0.01%
	NNN	F	-0.01%
	ESNT	D	-0.01%
	BBWI	C	-0.01%
	LADR	B	-0.01%
	CR	B	-0.01%
	SAIC	D	-0.01%
	FLR	C	-0.01%
	WWD	B	-0.01%
	H	B	-0.01%
	ESAB	B	-0.01%
	MUR	D	-0.01%
	RBC	B	-0.01%
	DTM	A	-0.01%
	GOLF	B	-0.01%
	GES	F	-0.01%
	IOSP	B	-0.01%
	GME	C	-0.01%
	PTEN	C	-0.01%
	SCS	B	-0.01%
	NNI	C	-0.01%
	SAH	B	-0.01%
	PSMT	D	-0.01%
	KEX	A	-0.01%
	AMWD	B	-0.01%
	ICUI	D	-0.01%
	ADC	A	-0.01%
	CWEN	D	-0.01%
	BMRN	F	-0.01%
	VNT	C	-0.01%
	WBS	A	-0.01%
	FYBR	D	-0.01%
	DEI	B	-0.01%
	SF	A	-0.01%
	GT	C	-0.01%
	FR	D	-0.01%
	SCCO	F	-0.0%
	NOMD	F	-0.0%
	WOLF	F	-0.0%
	HUN	F	-0.0%

SPXL: Top Represented Industries & Keywords

Industries: Diversified Industrials Software - Application Utilities - Regulated Electric Business Services Semiconductors Diagnostics & Research Oil & Gas E&P Aerospace & Defense Asset Management Banks - Regional - US Capital Markets Drug Manufacturers - Major Packaged Foods Medical Devices Medical Instruments & Supplies Specialty Retail Credit Services Health Care Plans Household & Personal Products Information Technology Services

Keywords: S&P 500 Nasdaq 100 Natural Gas Computing Electricity Insurance Dow Jones Component Electronics Chemical Medicine Real Estate Investment Trust Aerospace Telecommunications Bank Semiconductor Banking Insurance Products Petroleum Industry Transport Investment Bank

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