RECS aims to beat the Russell 1000 by subtraction. The fund tracks an index that starts with the Russell 1000, then removes stocks that dont pass its quality, value and momentum screens on a sector by sector basis. (Fund docs offer little additional detail on the factor inputs.) Stocks that make the cut are market cap weighted, and sector weights are aligned with those of the Russell 1000. In all, the fund aims to beat its bogey solely by stock de-selection while avoiding sector bets.