SPY vs. FNDX ETF Comparison

Comparison of SPDR S&P 500 (SPY) to Schwab Fundamental U.S. Large Company Index ETF (FNDX)

SPY

SPDR S&P 500

SPY Description

The investment seeks to provide investment results that, before expenses, generally correspond to the price and yield performance of the S&P 500 Index. The Trust holds the Portfolio and cash and is not actively "managed" by traditional methods. To maintain the correspondence between the composition and weightings of Portfolio Securities and component stocks of the S&P 500 Index, the Trustee adjusts the Portfolio from time to time to conform to periodic changes in the identity and/or relative weightings of Index Securities.

Grade (RS Rating)

Last Trade

$572.98

Average Daily Volume

50,510,973

Number of Holdings ^*

497

* may have additional holdings in another (foreign) market

FNDX

Schwab Fundamental U.S. Large Company Index ETF

FNDX Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Large Company Index. The index selects, ranks, and weights securities by fundamental measures of company size - adjusted sales, retained operating cash flow, and dividends plus buybacks - rather than market capitalization. Under normal circumstances, the fund will invest at least 90% of its net assets in stocks included in the index. It may invest up to 10% of its net assets in securities not included in the index.

Grade (RS Rating)

Last Trade

$71.70

Average Daily Volume

405,224

Number of Holdings ^*

723

* may have additional holdings in another (foreign) market

Performance

Period	SPY	FNDX
30 Days	4.32%	3.31%
60 Days	11.09%	10.17%
90 Days	3.62%	7.04%
12 Months	36.80%	32.75%

466 Overlapping Holdings

Symbol	Grade	Weight in SPY	Weight in FNDX	Overlap
A	B	0.09%	0.06%	0.06%
AAPL	C	7.11%	4.43%	4.43%
ABBV	C	0.7%	0.58%	0.58%
ABT	C	0.4%	0.34%	0.34%
ACGL	A	0.09%	0.03%	0.03%
ACN	B	0.46%	0.35%	0.35%
ADBE	F	0.47%	0.19%	0.19%
ADI	B	0.24%	0.14%	0.14%
ADM	F	0.06%	0.24%	0.06%
ADP	A	0.23%	0.14%	0.14%
ADSK	B	0.12%	0.03%	0.03%
AEE	A	0.05%	0.07%	0.05%
AEP	C	0.11%	0.17%	0.11%
AES	C	0.03%	0.07%	0.03%
AFL	A	0.11%	0.21%	0.11%
AIG	C	0.1%	0.27%	0.1%
AIZ	B	0.02%	0.03%	0.02%
AJG	C	0.13%	0.05%	0.05%
AKAM	D	0.03%	0.04%	0.03%
ALB	D	0.02%	0.03%	0.02%
ALGN	D	0.04%	0.03%	0.03%
ALL	A	0.1%	0.26%	0.1%
ALLE	A	0.03%	0.01%	0.01%
AMAT	C	0.36%	0.27%	0.27%
AMCR	C	0.03%	0.03%	0.03%
AMD	C	0.56%	0.11%	0.11%
AME	C	0.08%	0.05%	0.05%
AMGN	D	0.35%	0.44%	0.35%
AMP	A	0.09%	0.12%	0.09%
AMT	D	0.22%	0.14%	0.14%
AMZN	C	3.67%	1.42%	1.42%
ANET	A	0.2%	0.04%	0.04%
ANSS	D	0.06%	0.02%	0.02%
AON	A	0.15%	0.12%	0.12%
AOS	C	0.02%	0.03%	0.02%
APA	F	0.02%	0.03%	0.02%
APD	C	0.14%	0.12%	0.12%
APH	D	0.16%	0.08%	0.08%
APTV	D	0.04%	0.03%	0.03%
ARE	D	0.04%	0.03%	0.03%
ATO	A	0.04%	0.04%	0.04%
AVB	C	0.07%	0.05%	0.05%
AVGO	B	1.7%	0.63%	0.63%
AVY	D	0.04%	0.04%	0.04%
AWK	D	0.06%	0.05%	0.05%
AXP	A	0.31%	0.35%	0.31%
AZO	D	0.11%	0.06%	0.06%
BA	F	0.19%	0.13%	0.13%
BAC	B	0.55%	1.14%	0.55%
BALL	C	0.04%	0.06%	0.04%
BAX	D	0.04%	0.08%	0.04%
BBWI	F	0.01%	0.03%	0.01%
BBY	C	0.04%	0.18%	0.04%
BDX	C	0.14%	0.12%	0.12%
BEN	F	0.01%	0.04%	0.01%
BG	F	0.03%	0.12%	0.03%
BIIB	F	0.06%	0.11%	0.06%
BK	A	0.11%	0.25%	0.11%
BKNG	B	0.29%	0.21%	0.21%
BKR	B	0.07%	0.14%	0.07%
BLDR	C	0.05%	0.06%	0.05%
BLK	A	0.27%	0.26%	0.26%
BMY	A	0.21%	0.4%	0.21%
BR	B	0.05%	0.03%	0.03%
BRK.A	B	1.71%	2.17%	1.71%
BRO	A	0.05%	0.02%	0.02%
BSX	A	0.25%	0.09%	0.09%
BWA	C	0.02%	0.06%	0.02%
BX	C	0.23%	0.11%	0.11%
BXP	B	0.02%	0.05%	0.02%
C	B	0.24%	1.02%	0.24%
CAG	D	0.03%	0.07%	0.03%
CAH	B	0.05%	0.07%	0.05%
CARR	A	0.14%	0.13%	0.13%
CAT	A	0.39%	0.42%	0.39%
CB	A	0.22%	0.27%	0.22%
CBOE	B	0.04%	0.01%	0.01%
CBRE	C	0.08%	0.12%	0.08%
CCI	D	0.1%	0.11%	0.1%
CCL	C	0.04%	0.05%	0.04%
CDNS	D	0.15%	0.03%	0.03%
CDW	D	0.06%	0.06%	0.06%
CE	D	0.03%	0.06%	0.03%
CEG	A	0.16%	0.12%	0.12%
CF	A	0.03%	0.07%	0.03%
CFG	C	0.04%	0.09%	0.04%
CHD	D	0.05%	0.04%	0.04%
CHRW	C	0.03%	0.08%	0.03%
CHTR	D	0.06%	0.3%	0.06%
CI	D	0.2%	0.52%	0.2%
CINF	A	0.04%	0.07%	0.04%
CL	D	0.17%	0.14%	0.14%
CLX	C	0.04%	0.04%	0.04%
CMCSA	B	0.33%	0.81%	0.33%
CME	A	0.16%	0.08%	0.08%
CMG	C	0.16%	0.04%	0.04%
CMI	A	0.09%	0.17%	0.09%
CMS	A	0.04%	0.06%	0.04%
CNC	F	0.08%	0.25%	0.08%
CNP	B	0.04%	0.06%	0.04%
COF	A	0.12%	0.4%	0.12%
COP	D	0.24%	0.46%	0.24%
COST	C	0.82%	0.65%	0.65%
CPAY	A	0.04%	0.05%	0.04%
CPB	D	0.02%	0.03%	0.02%
CPRT	B	0.09%	0.03%	0.03%
CPT	C	0.03%	0.02%	0.02%
CRL	F	0.02%	0.01%	0.01%
CRM	B	0.55%	0.13%	0.13%
CSCO	A	0.44%	0.77%	0.44%
CSX	D	0.14%	0.21%	0.14%
CTAS	C	0.15%	0.08%	0.08%
CTLT	A	0.02%	0.02%	0.02%
CTRA	D	0.04%	0.03%	0.03%
CTSH	B	0.08%	0.18%	0.08%
CTVA	A	0.08%	0.09%	0.08%
CVS	D	0.15%	0.77%	0.15%
CVX	B	0.5%	1.15%	0.5%
CZR	B	0.02%	0.02%	0.02%
D	A	0.1%	0.18%	0.1%
DAL	C	0.07%	0.02%	0.02%
DD	C	0.08%	0.19%	0.08%
DE	C	0.22%	0.25%	0.22%
DECK	B	0.05%	0.03%	0.03%
DELL	C	0.07%	0.02%	0.02%
DFS	A	0.07%	0.21%	0.07%
DG	F	0.04%	0.09%	0.04%
DGX	D	0.04%	0.07%	0.04%
DHI	C	0.11%	0.19%	0.11%
DHR	D	0.37%	0.17%	0.17%
DIS	D	0.35%	0.41%	0.35%
DLR	C	0.1%	0.08%	0.08%
DLTR	F	0.03%	0.05%	0.03%
DOC	C	0.03%	0.04%	0.03%
DOV	C	0.05%	0.06%	0.05%
DOW	B	0.08%	0.23%	0.08%
DPZ	D	0.03%	0.03%	0.03%
DRI	C	0.04%	0.05%	0.04%
DTE	B	0.05%	0.08%	0.05%
DUK	C	0.18%	0.32%	0.18%
DVA	C	0.02%	0.06%	0.02%
DVN	F	0.05%	0.09%	0.05%
EA	D	0.07%	0.08%	0.07%
EBAY	A	0.06%	0.18%	0.06%
ECL	C	0.13%	0.09%	0.09%
ED	C	0.07%	0.13%	0.07%
EFX	D	0.07%	0.03%	0.03%
EG	A	0.03%	0.02%	0.02%
EIX	C	0.07%	0.1%	0.07%
EL	D	0.05%	0.05%	0.05%
ELV	F	0.25%	0.47%	0.25%
EMN	C	0.03%	0.09%	0.03%
EMR	B	0.13%	0.15%	0.13%
EOG	B	0.14%	0.22%	0.14%
EPAM	F	0.02%	0.02%	0.02%
EQIX	C	0.17%	0.08%	0.08%
EQR	C	0.05%	0.05%	0.05%
EQT	C	0.04%	0.04%	0.04%
ES	D	0.05%	0.09%	0.05%
ESS	D	0.04%	0.03%	0.03%
ETN	B	0.27%	0.21%	0.21%
ETR	A	0.06%	0.11%	0.06%
EVRG	C	0.03%	0.07%	0.03%
EW	F	0.08%	0.04%	0.04%
EXC	C	0.08%	0.18%	0.08%
EXPD	D	0.04%	0.04%	0.04%
EXPE	B	0.04%	0.03%	0.03%
EXR	D	0.08%	0.03%	0.03%
F	D	0.09%	0.33%	0.09%
FANG	D	0.06%	0.05%	0.05%
FAST	C	0.08%	0.07%	0.07%
FCX	B	0.15%	0.17%	0.15%
FDX	F	0.12%	0.29%	0.12%
FE	C	0.05%	0.1%	0.05%
FFIV	B	0.03%	0.03%	0.03%
FI	A	0.21%	0.11%	0.11%
FIS	A	0.09%	0.11%	0.09%
FITB	C	0.06%	0.12%	0.06%
FMC	C	0.02%	0.03%	0.02%
FOXA	B	0.02%	0.09%	0.02%
FSLR	C	0.06%	0.01%	0.01%
FTNT	A	0.1%	0.03%	0.03%
FTV	C	0.06%	0.04%	0.04%
GD	C	0.16%	0.22%	0.16%
GDDY	B	0.05%	0.02%	0.02%
GE	B	0.41%	0.16%	0.16%
GEHC	C	0.08%	0.11%	0.08%
GEV	A	0.14%	0.03%	0.03%
GILD	A	0.21%	0.35%	0.21%
GIS	C	0.08%	0.13%	0.08%
GL	C	0.02%	0.03%	0.02%
GLW	C	0.07%	0.14%	0.07%
GM	D	0.11%	0.65%	0.11%
GNRC	B	0.02%	0.02%	0.02%
GOOG	B	1.62%	1.09%	1.09%
GOOGL	B	1.96%	1.27%	1.27%
GPC	D	0.04%	0.06%	0.04%
GPN	F	0.05%	0.08%	0.05%
GRMN	D	0.06%	0.03%	0.03%
GS	B	0.32%	0.54%	0.32%
GWW	B	0.1%	0.07%	0.07%
HAL	D	0.05%	0.06%	0.05%
HAS	A	0.02%	0.04%	0.02%
HBAN	B	0.04%	0.06%	0.04%
HCA	C	0.15%	0.24%	0.15%
HD	A	0.81%	0.8%	0.8%
HES	D	0.07%	0.05%	0.05%
HIG	A	0.07%	0.14%	0.07%
HII	F	0.02%	0.04%	0.02%
HLT	A	0.12%	0.06%	0.06%
HOLX	D	0.04%	0.04%	0.04%
HON	C	0.28%	0.34%	0.28%
HPE	B	0.05%	0.2%	0.05%
HPQ	B	0.07%	0.2%	0.07%
HRL	F	0.02%	0.03%	0.02%
HSIC	D	0.02%	0.05%	0.02%
HST	D	0.03%	0.04%	0.03%
HSY	D	0.06%	0.04%	0.04%
HUBB	A	0.05%	0.03%	0.03%
HUM	F	0.08%	0.22%	0.08%
HWM	A	0.08%	0.06%	0.06%
IBM	A	0.42%	0.59%	0.42%
ICE	A	0.19%	0.11%	0.11%
IDXX	D	0.09%	0.03%	0.03%
IEX	D	0.03%	0.03%	0.03%
IFF	D	0.06%	0.06%	0.06%
INTC	D	0.21%	0.87%	0.21%
INTU	F	0.37%	0.1%	0.1%
INVH	D	0.04%	0.03%	0.03%
IP	C	0.04%	0.15%	0.04%
IPG	D	0.02%	0.04%	0.02%
IQV	F	0.08%	0.08%	0.08%
IR	A	0.08%	0.03%	0.03%
IRM	B	0.07%	0.07%	0.07%
ISRG	C	0.35%	0.08%	0.08%
IT	A	0.08%	0.03%	0.03%
ITW	C	0.15%	0.15%	0.15%
IVZ	A	0.02%	0.05%	0.02%
J	F	0.04%	0.06%	0.04%
JBHT	D	0.03%	0.04%	0.03%
JBL	C	0.03%	0.06%	0.03%
JCI	C	0.11%	0.15%	0.11%
JKHY	A	0.03%	0.02%	0.02%
JNJ	D	0.8%	0.97%	0.8%
JNPR	C	0.03%	0.05%	0.03%
JPM	C	1.23%	1.81%	1.23%
K	B	0.04%	0.07%	0.04%
KDP	C	0.08%	0.08%	0.08%
KEY	B	0.03%	0.09%	0.03%
KEYS	B	0.06%	0.04%	0.04%
KHC	F	0.06%	0.11%	0.06%
KIM	C	0.03%	0.03%	0.03%
KKR	A	0.18%	0.11%	0.11%
KLAC	B	0.22%	0.1%	0.1%
KMB	D	0.1%	0.11%	0.1%
KMI	A	0.09%	0.19%	0.09%
KMX	F	0.03%	0.07%	0.03%
KO	C	0.57%	0.41%	0.41%
KR	C	0.08%	0.29%	0.08%
KVUE	C	0.09%	0.05%	0.05%
L	C	0.03%	0.05%	0.03%
LDOS	A	0.04%	0.07%	0.04%
LEN	C	0.09%	0.18%	0.09%
LHX	A	0.09%	0.16%	0.09%
LIN	C	0.48%	0.36%	0.36%
LKQ	F	0.02%	0.06%	0.02%
LLY	D	1.47%	0.23%	0.23%
LMT	A	0.25%	0.4%	0.25%
LNT	B	0.03%	0.04%	0.03%
LOW	C	0.31%	0.43%	0.31%
LRCX	D	0.23%	0.17%	0.17%
LULU	D	0.06%	0.01%	0.01%
LUV	B	0.04%	0.02%	0.02%
LVS	B	0.04%	0.04%	0.04%
LW	D	0.02%	0.02%	0.02%
LYB	B	0.05%	0.16%	0.05%
MA	A	0.83%	0.28%	0.28%
MAA	D	0.04%	0.03%	0.03%
MAR	A	0.12%	0.08%	0.08%
MAS	C	0.04%	0.06%	0.04%
MCD	A	0.45%	0.35%	0.35%
MCHP	F	0.09%	0.06%	0.06%
MCK	F	0.13%	0.09%	0.09%
MCO	D	0.15%	0.07%	0.07%
MDLZ	D	0.2%	0.23%	0.2%
MDT	C	0.24%	0.17%	0.17%
MET	A	0.1%	0.26%	0.1%
META	A	2.55%	1.79%	1.79%
MGM	D	0.02%	0.06%	0.02%
MHK	C	0.02%	0.07%	0.02%
MKC	C	0.04%	0.04%	0.04%
MLM	F	0.07%	0.04%	0.04%
MMC	D	0.23%	0.14%	0.14%
MMM	C	0.16%	0.37%	0.16%
MNST	D	0.08%	0.04%	0.04%
MO	D	0.18%	0.35%	0.18%
MOH	F	0.04%	0.05%	0.04%
MOS	F	0.02%	0.07%	0.02%
MPC	D	0.11%	0.42%	0.11%
MRK	F	0.59%	0.5%	0.5%
MRNA	F	0.04%	0.04%	0.04%
MRO	B	0.03%	0.08%	0.03%
MS	A	0.27%	0.37%	0.27%
MSCI	B	0.09%	0.03%	0.03%
MSFT	D	6.59%	2.49%	2.49%
MSI	A	0.15%	0.06%	0.06%
MTB	A	0.06%	0.09%	0.06%
MTD	C	0.07%	0.04%	0.04%
MU	D	0.25%	0.42%	0.25%
NDAQ	C	0.06%	0.03%	0.03%
NDSN	C	0.03%	0.02%	0.02%
NEE	C	0.35%	0.28%	0.28%
NEM	C	0.13%	0.18%	0.13%
NFLX	A	0.63%	0.15%	0.15%
NI	A	0.03%	0.04%	0.03%
NKE	D	0.22%	0.23%	0.22%
NOC	B	0.15%	0.21%	0.15%
NOW	B	0.37%	0.01%	0.01%
NRG	A	0.04%	0.11%	0.04%
NSC	C	0.11%	0.2%	0.11%
NTAP	D	0.05%	0.07%	0.05%
NTRS	B	0.04%	0.07%	0.04%
NUE	D	0.07%	0.2%	0.07%
NVDA	B	6.27%	0.34%	0.34%
NVR	C	0.06%	0.08%	0.06%
NWSA	D	0.02%	0.04%	0.02%
NXPI	F	0.13%	0.05%	0.05%
O	C	0.11%	0.04%	0.04%
ODFL	F	0.08%	0.05%	0.05%
OKE	A	0.11%	0.12%	0.11%
OMC	C	0.04%	0.08%	0.04%
ON	F	0.06%	0.04%	0.04%
ORCL	A	0.55%	0.46%	0.46%
ORLY	A	0.14%	0.1%	0.1%
OTIS	A	0.09%	0.05%	0.05%
OXY	D	0.07%	0.11%	0.07%
PANW	B	0.23%	0.03%	0.03%
PARA	F	0.01%	0.1%	0.01%
PAYX	B	0.09%	0.06%	0.06%
PCAR	D	0.11%	0.13%	0.11%
PCG	C	0.09%	0.03%	0.03%
PEG	A	0.09%	0.11%	0.09%
PEP	F	0.48%	0.43%	0.43%
PFE	D	0.34%	0.78%	0.34%
PFG	A	0.04%	0.09%	0.04%
PG	D	0.84%	0.81%	0.81%
PGR	B	0.3%	0.23%	0.23%
PH	A	0.17%	0.12%	0.12%
PHM	C	0.06%	0.13%	0.06%
PKG	B	0.04%	0.07%	0.04%
PLD	D	0.24%	0.08%	0.08%
PM	D	0.39%	0.46%	0.39%
PNC	C	0.15%	0.27%	0.15%
PNR	C	0.03%	0.04%	0.03%
PNW	C	0.02%	0.04%	0.02%
POOL	D	0.03%	0.02%	0.02%
PPG	D	0.06%	0.09%	0.06%
PPL	C	0.05%	0.11%	0.05%
PRU	B	0.09%	0.22%	0.09%
PSA	C	0.12%	0.06%	0.06%
PSX	D	0.11%	0.37%	0.11%
PWR	A	0.09%	0.07%	0.07%
PYPL	A	0.17%	0.2%	0.17%
QCOM	D	0.4%	0.45%	0.4%
QRVO	F	0.02%	0.05%	0.02%
REG	C	0.02%	0.02%	0.02%
REGN	D	0.23%	0.14%	0.14%
RF	B	0.04%	0.08%	0.04%
RJF	B	0.05%	0.04%	0.04%
RL	B	0.02%	0.03%	0.02%
RMD	C	0.07%	0.04%	0.04%
ROK	D	0.06%	0.06%	0.06%
ROP	D	0.12%	0.05%	0.05%
ROST	D	0.1%	0.08%	0.08%
RSG	D	0.08%	0.06%	0.06%
RTX	A	0.33%	0.35%	0.33%
SBAC	C	0.05%	0.02%	0.02%
SBUX	B	0.23%	0.28%	0.23%
SCHW	D	0.2%	0.1%	0.1%
SHW	C	0.18%	0.08%	0.08%
SJM	D	0.03%	0.06%	0.03%
SLB	D	0.12%	0.12%	0.12%
SNA	C	0.03%	0.05%	0.03%
SNPS	F	0.16%	0.03%	0.03%
SO	A	0.2%	0.27%	0.2%
SOLV	C	0.02%	0.03%	0.02%
SPG	A	0.1%	0.1%	0.1%
SPGI	C	0.34%	0.15%	0.15%
SRE	C	0.11%	0.12%	0.11%
STE	D	0.05%	0.03%	0.03%
STLD	C	0.04%	0.1%	0.04%
STT	A	0.05%	0.09%	0.05%
STX	C	0.05%	0.1%	0.05%
STZ	D	0.08%	0.08%	0.08%
SW	C	0.05%	0.09%	0.05%
SWK	C	0.03%	0.09%	0.03%
SWKS	F	0.03%	0.05%	0.03%
SYF	A	0.04%	0.26%	0.04%
SYK	C	0.25%	0.12%	0.12%
SYY	D	0.08%	0.1%	0.08%
T	B	0.32%	1.27%	0.32%
TAP	D	0.02%	0.05%	0.02%
TDG	A	0.16%	0.07%	0.07%
TDY	A	0.04%	0.03%	0.03%
TEL	D	0.09%	0.11%	0.09%
TER	C	0.05%	0.05%	0.05%
TFC	D	0.12%	0.21%	0.12%
TFX	C	0.02%	0.02%	0.02%
TGT	C	0.15%	0.39%	0.15%
TJX	D	0.27%	0.22%	0.22%
TMO	D	0.49%	0.29%	0.29%
TMUS	A	0.2%	0.22%	0.2%
TPR	B	0.02%	0.05%	0.02%
TRGP	A	0.07%	0.06%	0.06%
TRMB	B	0.03%	0.03%	0.03%
TROW	D	0.05%	0.12%	0.05%
TRV	B	0.11%	0.29%	0.11%
TSCO	A	0.06%	0.06%	0.06%
TSLA	C	1.45%	0.24%	0.24%
TSN	D	0.03%	0.19%	0.03%
TT	A	0.18%	0.06%	0.06%
TTWO	D	0.05%	0.03%	0.03%
TXN	C	0.39%	0.35%	0.35%
TXT	F	0.03%	0.06%	0.03%
UBER	C	0.33%	0.04%	0.04%
UDR	C	0.03%	0.02%	0.02%
UHS	D	0.03%	0.09%	0.03%
ULTA	D	0.04%	0.04%	0.04%
UNH	B	1.09%	1.22%	1.09%
UNP	F	0.3%	0.38%	0.3%
UPS	D	0.2%	0.29%	0.2%
URI	C	0.11%	0.13%	0.11%
USB	C	0.15%	0.3%	0.15%
V	B	0.93%	0.33%	0.33%
VICI	C	0.07%	0.03%	0.03%
VLO	F	0.09%	0.38%	0.09%
VMC	D	0.07%	0.04%	0.04%
VRSK	D	0.08%	0.04%	0.04%
VRSN	C	0.03%	0.01%	0.01%
VRTX	D	0.25%	0.07%	0.07%
VST	A	0.08%	0.14%	0.08%
VTR	C	0.05%	0.08%	0.05%
VTRS	D	0.03%	0.09%	0.03%
VZ	C	0.39%	1.27%	0.39%
WAB	A	0.07%	0.06%	0.06%
WAT	B	0.04%	0.04%	0.04%
WBA	F	0.01%	0.18%	0.01%
WBD	F	0.04%	0.07%	0.04%
WDC	C	0.05%	0.13%	0.05%
WEC	B	0.06%	0.08%	0.06%
WELL	C	0.15%	0.1%	0.1%
WFC	B	0.39%	1.06%	0.39%
WM	B	0.15%	0.14%	0.14%
WMB	A	0.11%	0.14%	0.11%
WMT	A	0.71%	1.42%	0.71%
WRB	C	0.04%	0.03%	0.03%
WST	D	0.05%	0.02%	0.02%
WTW	C	0.06%	0.07%	0.06%
WY	C	0.05%	0.1%	0.05%
XEL	C	0.07%	0.12%	0.07%
XOM	A	1.03%	1.96%	1.03%
XYL	C	0.07%	0.04%	0.04%
YUM	C	0.08%	0.08%	0.08%
ZBH	F	0.05%	0.05%	0.05%
ZBRA	B	0.04%	0.04%	0.04%
ZTS	C	0.18%	0.08%	0.08%

SPY Overweight 31 Positions Relative to FNDX

Symbol	Grade	Weight
PLTR	A	0.15%
CRWD	D	0.13%
ABNB	D	0.12%
FICO	C	0.1%
RCL	B	0.09%
MPWR	B	0.09%
DXCM	F	0.06%
VLTO	A	0.06%
AXON	A	0.06%
CSGP	F	0.06%
TYL	D	0.05%
FDS	C	0.04%
UAL	A	0.04%
SMCI	F	0.04%
PTC	B	0.04%
TECH	D	0.03%
ERIE	A	0.03%
ROL	C	0.03%
ENPH	F	0.03%
PODD	C	0.03%
LYV	A	0.03%
PAYC	D	0.02%
WYNN	B	0.02%
FRT	D	0.02%
NCLH	C	0.02%
DAY	C	0.02%
MTCH	B	0.02%
MKTX	B	0.02%
INCY	B	0.02%
NWS	D	0.01%
FOX	B	0.01%

SPY Underweight 257 Positions Relative to FNDX

Symbol	Grade	Weight
LUMN	C	-0.56%
JLL	C	-0.09%
ARW	C	-0.09%
WKC	A	-0.09%
ALLY	F	-0.09%
AVT	B	-0.08%
RS	D	-0.08%
FNF	C	-0.07%
USFD	C	-0.07%
X	F	-0.07%
THC	D	-0.07%
KSS	D	-0.07%
WHR	C	-0.07%
AN	D	-0.06%
FLEX	B	-0.06%
M	D	-0.06%
OGN	F	-0.06%
DINO	F	-0.06%
AA	B	-0.06%
TOL	C	-0.06%
PFGC	A	-0.06%
CMA	C	-0.06%
OC	C	-0.06%
LEA	F	-0.06%
LAD	C	-0.06%
R	C	-0.06%
VFC	A	-0.06%
BFH	D	-0.05%
AFG	A	-0.05%
ORI	A	-0.05%
EQH	B	-0.05%
ZION	D	-0.05%
CSL	A	-0.05%
OVV	D	-0.05%
UNM	A	-0.05%
JEF	A	-0.05%
UGI	C	-0.05%
GPI	C	-0.05%
CASY	D	-0.05%
DXC	C	-0.05%
LNC	B	-0.05%
MAN	D	-0.05%
WSM	C	-0.05%
OMF	D	-0.05%
LNG	A	-0.05%
EME	B	-0.05%
LPX	C	-0.04%
FL	F	-0.04%
AMG	B	-0.04%
MRVL	C	-0.04%
CLF	D	-0.04%
BAH	C	-0.04%
GAP	F	-0.04%
AYI	A	-0.04%
MTH	C	-0.04%
ZIM	D	-0.04%
WCC	D	-0.04%
SSNC	C	-0.04%
RHI	D	-0.04%
SLM	B	-0.04%
BCC	C	-0.04%
CRBG	B	-0.04%
WU	D	-0.04%
EVR	C	-0.04%
UFPI	C	-0.04%
GT	F	-0.04%
RGA	B	-0.04%
GEN	A	-0.04%
SWN	D	-0.04%
FYBR	C	-0.04%
TMHC	C	-0.04%
OLN	D	-0.04%
DOX	B	-0.04%
MUSA	D	-0.04%
JXN	A	-0.04%
TDS	C	-0.04%
SFM	A	-0.04%
KD	D	-0.04%
PVH	D	-0.04%
CCK	C	-0.04%
ALSN	A	-0.04%
DKS	D	-0.04%
KNX	D	-0.04%
HUN	B	-0.04%
FAF	C	-0.04%
FBIN	C	-0.04%
VNO	B	-0.04%
INGR	B	-0.04%
THO	C	-0.04%
ACM	A	-0.04%
BERY	C	-0.04%
MKL	B	-0.04%
SCI	D	-0.03%
SEIC	B	-0.03%
AR	C	-0.03%
NSIT	B	-0.03%
ILMN	B	-0.03%
SKX	B	-0.03%
CAR	D	-0.03%
SUI	D	-0.03%
EWBC	B	-0.03%
FHN	D	-0.03%
LSTR	F	-0.03%
ACI	F	-0.03%
FLR	B	-0.03%
BTU	B	-0.03%
SEE	C	-0.03%
PII	D	-0.03%
HOG	D	-0.03%
ITT	C	-0.03%
JHG	A	-0.03%
ABG	D	-0.03%
SON	D	-0.03%
SAIC	A	-0.03%
BURL	C	-0.03%
AVTR	D	-0.03%
AAP	F	-0.03%
LII	C	-0.03%
GNTX	D	-0.03%
MLI	B	-0.03%
CG	B	-0.03%
TRU	C	-0.03%
VOYA	A	-0.03%
CIEN	A	-0.03%
CPRI	C	-0.03%
SNX	C	-0.03%
NWL	D	-0.03%
BC	C	-0.03%
TPH	C	-0.03%
RVTY	C	-0.03%
ARMK	C	-0.03%
KBH	D	-0.03%
OGE	C	-0.03%
GNW	A	-0.03%
RRX	B	-0.03%
MTZ	A	-0.03%
SANM	D	-0.03%
CHK	C	-0.03%
CMC	D	-0.03%
LPLA	D	-0.03%
CACI	A	-0.03%
GPK	D	-0.03%
HBI	B	-0.03%
WSO	C	-0.03%
OSK	F	-0.03%
NXST	D	-0.03%
AGCO	D	-0.03%
CNO	B	-0.03%
PBF	F	-0.03%
RPM	A	-0.03%
VAC	D	-0.02%
MTN	D	-0.02%
ALV	F	-0.02%
QRTEA	D	-0.02%
MKSI	F	-0.02%
BPOP	D	-0.02%
FLO	D	-0.02%
AER	C	-0.02%
WLK	C	-0.02%
SM	D	-0.02%
ODP	F	-0.02%
DAN	D	-0.02%
MIDD	D	-0.02%
CRI	D	-0.02%
WERN	D	-0.02%
GXO	D	-0.02%
KBR	A	-0.02%
CHKP	A	-0.02%
LECO	D	-0.02%
AL	D	-0.02%
ADNT	F	-0.02%
HUBG	D	-0.02%
POR	D	-0.02%
FCNCA	D	-0.02%
SLG	C	-0.02%
REZI	D	-0.02%
BECN	D	-0.02%
NFG	A	-0.02%
OI	D	-0.02%
TTC	F	-0.02%
TKR	B	-0.02%
PENN	D	-0.02%
GLPI	C	-0.02%
XRAY	D	-0.02%
ASGN	D	-0.02%
NAVI	D	-0.02%
CCEP	C	-0.02%
TPX	C	-0.02%
LEG	D	-0.02%
MUR	F	-0.02%
POST	C	-0.02%
GGG	C	-0.02%
DCI	B	-0.02%
PAG	D	-0.02%
RUSHA	D	-0.02%
NVT	C	-0.02%
WPC	C	-0.02%
APO	A	-0.02%
NOV	F	-0.02%
TGNA	B	-0.02%
UHAL	C	-0.02%
SQ	D	-0.02%
ABM	D	-0.02%
STWD	C	-0.02%
DAR	F	-0.02%
BRX	C	-0.02%
ATR	A	-0.02%
SNV	D	-0.02%
PRI	A	-0.02%
AXTA	C	-0.02%
ASO	D	-0.02%
COR	F	-0.02%
BJ	B	-0.02%
ST	F	-0.02%
THG	A	-0.02%
MDU	C	-0.02%
EHC	C	-0.02%
PK	D	-0.02%
MPW	C	-0.02%
XRX	D	-0.02%
EXP	C	-0.02%
LAMR	C	-0.02%
G	A	-0.02%
CNH	C	-0.02%
CC	D	-0.02%
MTG	A	-0.02%
CW	A	-0.02%
BAP	A	-0.02%
VSH	F	-0.01%
ANDE	D	-0.01%
DBX	C	-0.01%
WTRG	D	-0.01%
MSM	D	-0.01%
JAZZ	F	-0.01%
CHE	D	-0.01%
CNXC	F	-0.01%
MMS	C	-0.01%
SPTN	C	-0.01%
LILAK	D	-0.01%
TNL	B	-0.01%
AAL	D	-0.01%
AEO	C	-0.01%
BLD	D	-0.01%
ICLR	F	-0.01%
HTZ	F	-0.01%
PRGO	F	-0.01%
FTI	B	-0.01%
UNFI	C	-0.01%
CNX	A	-0.01%
JWN	D	-0.01%
CYH	C	-0.01%
DK	F	-0.01%
HRB	C	-0.01%
ALK	C	-0.01%
COHR	B	-0.01%
MATX	C	-0.01%
ARCH	D	-0.01%