USMV vs. FTA ETF Comparison

Comparison of iShares MSCI USA Minimum Volatility ETF (USMV) to First Trust Large Cap Value AlphaDEX Fund (based onthe Defined Large Cap Value Index (FTA)

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$91.24

Average Daily Volume

2,252,906

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

FTA

First Trust Large Cap Value AlphaDEX Fund (based onthe Defined Large Cap Value Index

FTA Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Large Cap Value Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P 500(R) Value Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$78.73

Average Daily Volume

33,412

Number of Holdings ^*

186

* may have additional holdings in another (foreign) market

Performance

Period	USMV	FTA
30 Days	1.97%	3.63%
60 Days	6.57%	3.82%
90 Days	8.42%	7.47%
12 Months	23.92%	20.29%

61 Overlapping Holdings

Symbol	Grade	Weight in USMV	Weight in FTA	Overlap
ABT	C	0.09%	0.19%	0.09%
ACGL	C	0.8%	0.95%	0.8%
AEE	C	0.22%	0.81%	0.22%
AEP	C	0.42%	0.81%	0.42%
ATO	B	0.05%	0.8%	0.05%
BRK.A	C	1.49%	0.96%	0.96%
CB	B	1.5%	0.78%	0.78%
CI	C	0.23%	0.18%	0.18%
CMCSA	D	0.36%	0.87%	0.36%
CMS	C	0.2%	0.59%	0.2%
CPB	C	0.39%	0.38%	0.38%
CSCO	C	1.29%	0.36%	0.36%
CTSH	C	0.77%	0.78%	0.77%
CTVA	B	0.37%	0.17%	0.17%
CVS	D	0.05%	0.84%	0.05%
CVX	D	0.3%	0.77%	0.3%
D	C	0.23%	0.59%	0.23%
DGX	B	0.1%	0.57%	0.1%
DTE	C	0.21%	0.57%	0.21%
DUK	C	1.55%	0.59%	0.59%
ED	C	1.22%	0.8%	0.8%
EG	C	0.45%	0.86%	0.45%
ELV	C	0.72%	0.17%	0.17%
EOG	D	0.15%	0.81%	0.15%
FANG	D	0.53%	0.74%	0.53%
GD	B	0.06%	0.17%	0.06%
GIS	B	0.77%	0.58%	0.58%
HIG	B	0.12%	0.79%	0.12%
HRL	C	0.22%	0.36%	0.22%
HSY	C	0.35%	0.37%	0.35%
HUM	F	0.47%	0.15%	0.15%
INCY	C	0.48%	0.53%	0.48%
JNJ	C	1.28%	0.39%	0.39%
K	B	0.81%	0.23%	0.23%
KDP	B	0.71%	0.38%	0.38%
KHC	C	0.44%	0.76%	0.44%
KMB	D	0.22%	0.17%	0.17%
KR	C	0.59%	0.56%	0.56%
L	C	0.27%	0.72%	0.27%
LMT	C	0.88%	0.42%	0.42%
MDLZ	B	0.52%	0.19%	0.19%
MDT	C	0.14%	0.4%	0.14%
MKL	C	0.32%	0.85%	0.32%
MOH	D	0.23%	0.41%	0.23%
MPC	F	0.56%	0.81%	0.56%
OXY	F	0.13%	0.7%	0.13%
PKG	B	0.18%	0.4%	0.18%
PSX	F	0.06%	0.77%	0.06%
REGN	C	0.92%	0.19%	0.19%
T	C	0.71%	0.98%	0.71%
TDY	B	0.52%	0.56%	0.52%
TEL	D	0.07%	0.49%	0.07%
TRV	C	1.05%	0.4%	0.4%
TSN	C	0.69%	0.18%	0.18%
VLO	F	0.05%	0.74%	0.05%
VZ	B	1.44%	0.74%	0.74%
WEC	C	0.75%	0.61%	0.61%
WMT	C	1.66%	0.2%	0.2%
WRB	C	0.3%	0.38%	0.3%
XEL	B	0.42%	0.83%	0.42%
XOM	C	0.43%	0.67%	0.43%

USMV Overweight 109 Positions Relative to FTA

Symbol	Grade	Weight
TMUS	C	1.7%
IBM	B	1.7%
PGR	B	1.68%
MSI	B	1.64%
LLY	C	1.58%
WCN	D	1.55%
NOC	B	1.52%
RSG	D	1.52%
MSFT	C	1.38%
TXN	C	1.38%
UNH	C	1.38%
SO	B	1.37%
WM	D	1.37%
ROP	C	1.31%
APH	D	1.29%
AJG	D	1.29%
ACN	C	1.28%
MCD	B	1.27%
PG	C	1.26%
ABBV	C	1.22%
MRK	D	1.22%
AVGO	C	1.21%
MMC	C	1.16%
PEP	C	1.15%
MCK	F	1.14%
ORCL	C	1.12%
AZO	D	0.99%
AAPL	C	0.97%
GILD	B	0.89%
CBOE	C	0.87%
V	C	0.83%
GDDY	C	0.81%
EA	D	0.78%
VRTX	D	0.75%
FCNCA	D	0.73%
AMGN	B	0.7%
MA	B	0.67%
COR	D	0.66%
NOW	B	0.65%
VRSN	D	0.65%
ORLY	C	0.63%
BDX	D	0.59%
NEM	B	0.58%
FI	A	0.57%
KEYS	C	0.54%
NVDA	D	0.54%
ERIE	B	0.52%
CME	C	0.51%
YUM	D	0.51%
FFIV	B	0.49%
AON	B	0.49%
JNPR	B	0.49%
FICO	B	0.48%
CL	D	0.47%
UBER	C	0.47%
PTC	D	0.47%
AKAM	D	0.45%
CDW	D	0.45%
TJX	B	0.45%
BAH	C	0.44%
WDAY	D	0.42%
BMY	C	0.41%
VRSK	D	0.4%
ROL	C	0.37%
CHD	D	0.37%
WTW	C	0.36%
AFG	B	0.34%
IT	B	0.34%
NBIX	F	0.33%
GEN	B	0.32%
BMRN	F	0.3%
ICE	C	0.29%
FWONK	C	0.29%
HD	B	0.28%
AIZ	B	0.28%
GLW	C	0.28%
GRMN	D	0.27%
ANET	B	0.27%
ALNY	C	0.25%
ADI	C	0.25%
PFE	C	0.24%
WMB	B	0.23%
HON	D	0.22%
NTAP	D	0.21%
AZPN	B	0.21%
MELI	B	0.2%
HUBS	D	0.18%
SNPS	D	0.17%
HOLX	B	0.17%
STX	C	0.17%
TW	B	0.17%
LIN	B	0.17%
DPZ	F	0.17%
CDNS	D	0.16%
CRWD	D	0.14%
GOOG	D	0.14%
UTHR	C	0.13%
AMZN	C	0.12%
KO	C	0.11%
LNT	B	0.1%
DELL	D	0.1%
RTX	C	0.09%
ADP	B	0.08%
FSLR	C	0.07%
KNX	C	0.06%
OTIS	C	0.06%
ULTA	D	0.05%
BR	D	0.05%
CRM	D	0.04%

USMV Underweight 125 Positions Relative to FTA

Symbol	Grade	Weight
DHI	B	-1.16%
LEN	B	-1.05%
EXC	C	-1.0%
ETR	B	-1.0%
CINF	B	-0.99%
GPN	D	-0.98%
FOXA	B	-0.98%
CF	C	-0.91%
UAL	C	-0.88%
ADM	D	-0.86%
GM	C	-0.86%
SYF	C	-0.85%
EBAY	B	-0.82%
APTV	D	-0.82%
UHAL	A	-0.78%
COP	D	-0.78%
PCG	C	-0.78%
CNC	D	-0.78%
BG	D	-0.78%
VTRS	D	-0.77%
EQT	D	-0.77%
CE	F	-0.77%
NUE	F	-0.77%
CAG	C	-0.77%
MTB	B	-0.76%
CFG	C	-0.76%
HBAN	B	-0.75%
SJM	C	-0.75%
SNA	C	-0.74%
STLD	F	-0.74%
CTRA	D	-0.74%
IPG	C	-0.73%
KMI	B	-0.73%
DVN	F	-0.73%
F	F	-0.73%
WBD	D	-0.71%
LNG	C	-0.7%
COF	B	-0.69%
HPE	D	-0.69%
LYB	D	-0.68%
AIG	D	-0.68%
RS	D	-0.67%
LKQ	F	-0.66%
OC	D	-0.65%
TROW	D	-0.63%
BEN	F	-0.61%
AFL	C	-0.61%
EIX	C	-0.6%
WFC	D	-0.6%
BBY	C	-0.59%
HAL	F	-0.58%
FE	C	-0.58%
EQR	B	-0.57%
STT	A	-0.57%
ZM	C	-0.57%
FITB	B	-0.57%
WPC	C	-0.57%
CHTR	D	-0.57%
USB	B	-0.56%
RF	B	-0.55%
SRE	C	-0.54%
JBHT	D	-0.53%
DE	B	-0.52%
LUV	C	-0.51%
TXT	D	-0.51%
ZBH	F	-0.49%
BAC	D	-0.49%
SWKS	D	-0.48%
CRBG	D	-0.48%
BKR	C	-0.48%
FDX	C	-0.48%
JBL	D	-0.48%
C	C	-0.46%
CNP	C	-0.45%
FNF	B	-0.42%
PYPL	B	-0.42%
KIM	C	-0.42%
HCA	B	-0.42%
SSNC	B	-0.41%
NEE	C	-0.41%
PNC	B	-0.4%
LOW	B	-0.4%
PEG	B	-0.39%
KEY	B	-0.39%
APD	B	-0.38%
OMC	B	-0.38%
WY	C	-0.38%
OKE	B	-0.38%
EPAM	F	-0.37%
DOV	B	-0.36%
ARE	C	-0.36%
GS	C	-0.36%
PPG	D	-0.35%
TGT	C	-0.35%
GPC	D	-0.34%
MS	D	-0.34%
UPS	D	-0.33%
HPQ	D	-0.33%
DOW	D	-0.33%
INTC	F	-0.32%
CBRE	A	-0.22%
VTR	C	-0.21%
KVUE	C	-0.21%
MKC	C	-0.2%
BLK	B	-0.19%
POOL	C	-0.19%
AWK	B	-0.19%
TRGP	B	-0.19%
MAA	B	-0.19%
NKE	D	-0.18%
JCI	B	-0.18%
CMI	C	-0.18%
SYY	D	-0.18%
PRU	C	-0.17%
DD	B	-0.17%
LHX	C	-0.17%
J	C	-0.17%
PFG	B	-0.17%
TSCO	C	-0.17%
RJF	C	-0.16%
WLK	D	-0.16%
EXPD	C	-0.16%
QCOM	D	-0.14%
BIIB	F	-0.14%
DG	F	-0.11%