AVLC vs. BTAL ETF Comparison

Comparison of Avantis U.S. Large Cap Equity ETF (AVLC) to QuantShares U.S. Market Neutral Anti Beta Fund ETF (BTAL)

AVLC

Avantis U.S. Large Cap Equity ETF

AVLC Description

The fund invests primarily in a diverse group of U.S. companies across market sectors and industry groups. The fund seeks securities of companies that it expects to have higher returns by placing an enhanced emphasis on securities of companies with higher profitability and value characteristics. Conversely, the fund seeks to underweight or exclude securities it expects to have lower returns, such as securities of companies with lower levels of profitability and less attractive value characteristics

Grade (RS Rating)

Last Trade

$69.36

Average Daily Volume

18,758

Number of Holdings ^*

975

* may have additional holdings in another (foreign) market

BTAL

QuantShares U.S. Market Neutral Anti Beta Fund ETF

BTAL Description

The investment seeks performance results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Thematic Market Neutral Anti-Beta Index. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stock, including the short positions, in the Target Anti-Beta Index. The Target Anti-Beta Index is a market neutral index that is dollar-neutral. As such, it identifies long and short securities positions of approximately equal dollar amounts. In choosing to track a market neutral index, the fund seeks to limit the effects of general market movements on the fund.

Grade (RS Rating)

Last Trade

$19.32

Average Daily Volume

595,081

Number of Holdings ^*

391

* may have additional holdings in another (foreign) market

Performance

Period	AVLC	BTAL
30 Days	2.83%	-1.38%
60 Days	7.80%	-4.64%
90 Days	9.13%	-3.78%
12 Months	34.06%	-6.21%

338 Overlapping Holdings

Symbol	Grade	Weight in AVLC	Weight in BTAL	Overlap
AA	C	0.04%	-0.5%	-0.5%
ABBV	D	0.45%	0.43%	0.43%
ACGL	D	0.14%	0.38%	0.14%
ACN	C	0.31%	0.42%	0.31%
ADP	A	0.36%	0.44%	0.36%
AEE	A	0.08%	0.45%	0.08%
AES	F	0.06%	-0.41%	-0.41%
AFRM	B	0.02%	-0.58%	-0.58%
AGL	F	0.0%	0.26%	0.0%
AIZ	A	0.05%	0.41%	0.05%
AKAM	F	0.04%	0.42%	0.04%
ALB	B	0.01%	-0.46%	-0.46%
ALGN	F	0.04%	-0.37%	-0.37%
ALL	A	0.19%	0.43%	0.19%
ALLY	C	0.06%	-0.35%	-0.35%
ALSN	A	0.02%	0.5%	0.02%
AMCR	D	0.02%	0.42%	0.02%
AMD	F	0.34%	-0.41%	-0.41%
AMGN	F	0.21%	0.42%	0.21%
AMKR	F	0.02%	-0.33%	-0.33%
ANET	C	0.17%	-0.47%	-0.47%
AON	A	0.09%	0.45%	0.09%
APG	B	0.0%	-0.41%	-0.41%
AR	B	0.03%	-0.42%	-0.42%
ARMK	B	0.02%	0.45%	0.02%
ARW	F	0.05%	0.37%	0.05%
AVGO	C	1.18%	-0.45%	-0.45%
AWK	D	0.03%	-0.42%	-0.42%
AXON	B	0.04%	-0.52%	-0.52%
AXS	A	0.05%	0.43%	0.05%
AXTA	A	0.04%	-0.46%	-0.46%
AZO	C	0.05%	0.3%	0.05%
BBWI	C	0.01%	-0.39%	-0.39%
BG	D	0.08%	0.36%	0.08%
BILL	A	0.01%	0.46%	0.01%
BKR	B	0.18%	0.46%	0.18%
BLD	F	0.03%	-0.39%	-0.39%
BLDR	D	0.07%	-0.42%	-0.42%
BMRN	F	0.03%	0.31%	0.03%
BMY	B	0.17%	0.49%	0.17%
BRO	A	0.02%	0.43%	0.02%
BRZE	C	0.0%	-0.3%	-0.3%
BWA	B	0.05%	0.42%	0.05%
BWXT	A	0.06%	0.51%	0.06%
BX	A	0.1%	-0.51%	-0.51%
CACI	C	0.01%	0.5%	0.01%
CAR	C	0.0%	-0.41%	-0.41%
CARR	C	0.06%	-0.43%	-0.43%
CB	C	0.22%	0.43%	0.22%
CBOE	D	0.03%	0.43%	0.03%
CBRE	A	0.06%	-0.49%	-0.49%
CCK	D	0.02%	0.45%	0.02%
CCL	A	0.12%	-0.56%	-0.56%
CE	F	0.01%	-0.41%	-0.41%
CEG	D	0.12%	-0.59%	-0.59%
CELH	F	0.02%	-0.33%	-0.33%
CF	B	0.09%	0.43%	0.09%
CFG	B	0.08%	-0.43%	-0.43%
CFLT	B	0.01%	0.53%	0.01%
CG	C	0.02%	-0.53%	-0.53%
CHD	B	0.05%	0.42%	0.05%
CHE	D	0.02%	0.38%	0.02%
CHH	B	0.02%	0.47%	0.02%
CHRW	A	0.02%	0.42%	0.02%
CHX	D	0.04%	-0.38%	-0.38%
CI	D	0.07%	0.38%	0.07%
CINF	A	0.07%	0.44%	0.07%
CLH	B	0.04%	0.4%	0.04%
CMA	A	0.06%	-0.49%	-0.49%
CME	A	0.11%	0.46%	0.11%
CMG	B	0.23%	0.42%	0.23%
CMS	C	0.06%	0.44%	0.06%
CNC	F	0.08%	0.33%	0.08%
CNM	D	0.02%	-0.38%	-0.38%
CNXC	F	0.0%	-0.25%	-0.25%
COHR	B	0.03%	-0.5%	-0.5%
COIN	B	0.07%	-0.38%	-0.38%
COR	A	0.09%	0.42%	0.09%
COTY	F	0.0%	-0.34%	-0.34%
CPB	F	0.01%	0.4%	0.01%
CRL	C	0.01%	-0.38%	-0.38%
CRSP	D	0.0%	-0.41%	-0.41%
CRWD	B	0.1%	-0.48%	-0.48%
CSCO	A	0.3%	0.46%	0.3%
CSGP	D	0.04%	-0.41%	-0.41%
CSX	B	0.26%	0.42%	0.26%
CTSH	A	0.12%	0.41%	0.12%
CVNA	B	0.09%	-0.68%	-0.68%
CW	B	0.03%	0.45%	0.03%
CWEN	D	0.01%	-0.43%	-0.43%
CWEN	D	0.0%	-0.43%	-0.43%
CZR	F	0.0%	-0.45%	-0.45%
D	D	0.05%	-0.46%	-0.46%
DAL	A	0.22%	-0.6%	-0.6%
DAR	B	0.02%	-0.41%	-0.41%
DASH	A	0.06%	-0.52%	-0.52%
DAY	C	0.0%	-0.52%	-0.52%
DBX	B	0.01%	0.45%	0.01%
DD	D	0.07%	0.43%	0.07%
DECK	B	0.16%	0.39%	0.16%
DELL	B	0.06%	-0.48%	-0.48%
DGX	A	0.01%	0.42%	0.01%
DINO	D	0.04%	-0.34%	-0.34%
DKNG	B	0.01%	-0.43%	-0.43%
DKS	F	0.08%	-0.36%	-0.36%
DLB	C	0.01%	0.43%	0.01%
DOX	C	0.03%	0.44%	0.03%
DRI	B	0.1%	0.44%	0.1%
DUK	D	0.16%	0.43%	0.16%
DUOL	B	0.01%	-0.59%	-0.59%
DVN	F	0.14%	0.36%	0.14%
ED	D	0.09%	0.43%	0.09%
EFX	D	0.02%	-0.38%	-0.38%
EG	D	0.07%	0.4%	0.07%
EL	F	0.02%	-0.32%	-0.32%
ELAN	D	0.01%	-0.36%	-0.36%
ELF	C	0.0%	-0.3%	-0.3%
ELV	F	0.14%	0.33%	0.14%
ENPH	F	0.01%	-0.29%	-0.29%
EQT	B	0.1%	-0.48%	-0.48%
ERIE	F	0.03%	0.41%	0.03%
ETN	A	0.14%	-0.47%	-0.47%
EW	D	0.08%	-0.41%	-0.41%
EXP	B	0.08%	-0.49%	-0.49%
EXPE	B	0.04%	-0.48%	-0.48%
F	C	0.2%	-0.4%	-0.4%
FANG	D	0.17%	0.38%	0.17%
FBIN	F	0.02%	-0.46%	-0.46%
FCN	F	0.02%	0.38%	0.02%
FCX	F	0.21%	-0.43%	-0.43%
FFIV	A	0.03%	0.5%	0.03%
FLO	F	0.0%	0.41%	0.0%
FMC	F	0.04%	0.42%	0.04%
FND	F	0.05%	-0.4%	-0.4%
FOUR	B	0.01%	-0.48%	-0.48%
FOXA	A	0.04%	0.43%	0.04%
FTNT	B	0.19%	0.44%	0.19%
FYBR	D	0.05%	-0.53%	-0.53%
G	B	0.02%	0.41%	0.02%
GD	A	0.05%	0.41%	0.05%
GILD	C	0.38%	0.49%	0.38%
GIS	F	0.03%	0.41%	0.03%
GLW	C	0.09%	0.47%	0.09%
GME	C	0.02%	-0.46%	-0.46%
GNRC	B	0.06%	-0.45%	-0.45%
GPC	D	0.06%	0.34%	0.06%
GTLS	A	0.01%	-0.42%	-0.42%
HEI	B	0.01%	0.42%	0.01%
HEI	B	0.0%	0.42%	0.0%
HIG	C	0.19%	0.41%	0.19%
HON	B	0.14%	0.42%	0.14%
HOOD	B	0.05%	-0.47%	-0.47%
HPQ	B	0.05%	0.42%	0.05%
HQY	B	0.01%	0.48%	0.01%
HRB	D	0.04%	0.39%	0.04%
HUM	D	0.05%	0.31%	0.05%
IBKR	A	0.02%	0.51%	0.02%
IBM	C	0.27%	0.44%	0.27%
IDXX	D	0.11%	-0.37%	-0.37%
ILMN	C	0.04%	-0.47%	-0.47%
INTC	C	0.17%	-0.46%	-0.46%
IOT	B	0.01%	-0.49%	-0.49%
ITT	A	0.04%	-0.44%	-0.44%
J	B	0.01%	0.4%	0.01%
JAZZ	B	0.04%	0.4%	0.04%
JHG	B	0.02%	-0.48%	-0.48%
JLL	C	0.05%	-0.47%	-0.47%
JNJ	D	0.6%	0.42%	0.42%
JNPR	D	0.02%	0.42%	0.02%
KBR	B	0.01%	0.41%	0.01%
KHC	F	0.05%	0.4%	0.05%
KKR	B	0.15%	-0.49%	-0.49%
KMI	B	0.1%	0.48%	0.1%
KMX	C	0.05%	-0.37%	-0.37%
KO	F	0.4%	0.38%	0.38%
KR	A	0.2%	0.45%	0.2%
L	A	0.07%	0.42%	0.07%
LMT	C	0.22%	0.39%	0.22%
LNC	B	0.01%	-0.46%	-0.46%
LNG	B	0.22%	0.45%	0.22%
LNT	C	0.03%	0.44%	0.03%
LPLA	B	0.1%	0.51%	0.1%
LPX	B	0.06%	-0.44%	-0.44%
LRCX	F	0.37%	-0.38%	-0.38%
LULU	C	0.15%	0.45%	0.15%
LYFT	B	0.01%	-0.48%	-0.48%
LYV	B	0.02%	-0.53%	-0.53%
MCD	C	0.16%	0.41%	0.16%
MCK	A	0.07%	0.41%	0.07%
MDB	C	0.03%	-0.49%	-0.49%
MDU	F	0.02%	0.49%	0.02%
MGM	D	0.01%	-0.42%	-0.42%
MKC	D	0.01%	0.42%	0.01%
MKL	A	0.12%	0.47%	0.12%
MKSI	C	0.01%	-0.36%	-0.36%
MMC	C	0.09%	0.4%	0.09%
MOH	F	0.07%	0.39%	0.07%
MOS	D	0.05%	0.39%	0.05%
MPWR	F	0.06%	-0.31%	-0.31%
MRNA	F	0.03%	-0.3%	-0.3%
MRVL	B	0.11%	-0.5%	-0.5%
MSA	D	0.02%	0.39%	0.02%
MSFT	C	4.41%	0.41%	0.41%
MSI	B	0.21%	0.46%	0.21%
MSTR	B	0.07%	0.74%	0.07%
MTCH	F	0.01%	0.41%	0.01%
MTDR	C	0.05%	-0.39%	-0.39%
MU	D	0.2%	-0.43%	-0.43%
MUR	F	0.03%	0.35%	0.03%
MUSA	B	0.07%	0.4%	0.07%
NEM	F	0.02%	0.36%	0.02%
NET	B	0.04%	-0.46%	-0.46%
NEU	C	0.01%	0.43%	0.01%
NOC	C	0.05%	0.41%	0.05%
NRG	B	0.06%	-0.47%	-0.47%
NTRA	B	0.02%	-0.43%	-0.43%
NTRS	A	0.11%	-0.49%	-0.49%
NVDA	B	4.93%	-0.44%	-0.44%
NVT	B	0.02%	-0.48%	-0.48%
OC	A	0.1%	-0.41%	-0.41%
OLLI	C	0.02%	0.41%	0.02%
ON	F	0.13%	0.39%	0.13%
ORI	A	0.04%	0.42%	0.04%
ORLY	A	0.07%	0.47%	0.07%
OWL	B	0.0%	-0.55%	-0.55%
OXY	D	0.15%	0.37%	0.15%
OZK	B	0.02%	-0.44%	-0.44%
PAG	B	0.01%	0.38%	0.01%
PATH	C	0.01%	-0.41%	-0.41%
PAYC	B	0.07%	0.55%	0.07%
PAYX	B	0.17%	0.45%	0.17%
PCAR	B	0.24%	0.46%	0.24%
PCTY	A	0.02%	0.49%	0.02%
PEN	B	0.01%	-0.49%	-0.49%
PFE	F	0.15%	0.42%	0.15%
PFGC	B	0.06%	-0.47%	-0.47%
PGR	A	0.45%	0.42%	0.42%
PINS	F	0.02%	-0.43%	-0.43%
PKG	B	0.12%	0.46%	0.12%
PLTR	B	0.16%	-0.58%	-0.58%
PNFP	B	0.03%	-0.46%	-0.46%
PNW	B	0.05%	0.43%	0.05%
PODD	B	0.03%	-0.52%	-0.52%
PWR	B	0.09%	-0.46%	-0.46%
PYPL	A	0.3%	-0.47%	-0.47%
RBLX	B	0.01%	-0.5%	-0.5%
RF	B	0.08%	-0.45%	-0.45%
RGA	A	0.07%	0.43%	0.07%
RGEN	C	0.01%	-0.39%	-0.39%
RH	C	0.0%	-0.52%	-0.52%
RIVN	D	0.03%	-0.3%	-0.3%
RLI	A	0.03%	0.44%	0.03%
RMBS	B	0.01%	-0.46%	-0.46%
RMD	C	0.07%	-0.44%	-0.44%
RNR	D	0.08%	0.45%	0.08%
ROIV	C	0.02%	-0.42%	-0.42%
ROKU	C	0.02%	-0.4%	-0.4%
ROP	A	0.09%	0.44%	0.09%
RRC	B	0.04%	-0.44%	-0.44%
RSG	A	0.03%	0.4%	0.03%
RTX	C	0.16%	0.43%	0.16%
RYAN	A	0.01%	0.43%	0.01%
SAIA	B	0.07%	-0.54%	-0.54%
SAIC	C	0.0%	0.47%	0.0%
SCHW	A	0.2%	-0.48%	-0.48%
SEDG	F	0.0%	-0.29%	-0.29%
SEE	C	0.01%	-0.45%	-0.45%
SFM	B	0.11%	0.53%	0.11%
SHW	A	0.14%	-0.44%	-0.44%
SIGI	B	0.02%	0.43%	0.02%
SLGN	A	0.0%	0.43%	0.0%
SMCI	F	0.02%	-0.24%	-0.24%
SNA	A	0.08%	0.5%	0.08%
SNAP	C	0.01%	-0.55%	-0.55%
SNV	B	0.03%	-0.48%	-0.48%
SNX	C	0.04%	0.4%	0.04%
SOFI	B	0.04%	-0.62%	-0.62%
SQ	B	0.06%	-0.47%	-0.47%
SRPT	F	0.01%	0.38%	0.01%
SSD	D	0.04%	-0.42%	-0.42%
ST	F	0.0%	0.38%	0.0%
T	A	0.42%	0.48%	0.42%
TDY	A	0.03%	0.46%	0.03%
TER	F	0.05%	-0.33%	-0.33%
TFX	F	0.03%	-0.37%	-0.37%
TGT	C	0.28%	-0.41%	-0.41%
THO	B	0.01%	-0.41%	-0.41%
TJX	B	0.43%	0.4%	0.4%
TMUS	A	0.3%	0.45%	0.3%
TNET	D	0.01%	0.35%	0.01%
TOL	C	0.07%	-0.45%	-0.45%
TOST	A	0.02%	-0.52%	-0.52%
TPG	B	0.0%	-0.58%	-0.58%
TREX	C	0.04%	-0.47%	-0.47%
TROW	B	0.1%	-0.43%	-0.43%
TRU	D	0.02%	-0.45%	-0.45%
TRV	B	0.26%	0.47%	0.26%
TSLA	B	0.7%	-0.51%	-0.51%
TT	A	0.13%	-0.45%	-0.45%
TTD	B	0.06%	-0.5%	-0.5%
TXG	F	0.0%	-0.31%	-0.31%
TXRH	A	0.09%	0.48%	0.09%
TXT	C	0.05%	0.38%	0.05%
UBER	F	0.1%	-0.43%	-0.43%
UGI	D	0.0%	-0.42%	-0.42%
UNH	B	0.36%	0.4%	0.36%
UNM	A	0.05%	0.49%	0.05%
URI	B	0.2%	-0.49%	-0.49%
USB	A	0.22%	-0.46%	-0.46%
USFD	A	0.01%	-0.46%	-0.46%
UTHR	B	0.1%	0.45%	0.1%
VEEV	B	0.05%	-0.44%	-0.44%
VFC	C	0.04%	0.49%	0.04%
VRSN	C	0.02%	0.41%	0.02%
VRT	B	0.13%	-0.59%	-0.59%
VST	B	0.12%	-0.63%	-0.63%
VTRS	B	0.09%	0.42%	0.09%
VZ	C	0.44%	0.43%	0.43%
W	F	0.0%	-0.43%	-0.43%
WAL	B	0.06%	-0.45%	-0.45%
WBA	D	0.0%	-0.43%	-0.43%
WCC	B	0.07%	-0.51%	-0.51%
WEC	B	0.04%	0.44%	0.04%
WH	A	0.01%	0.48%	0.01%
WM	A	0.12%	0.44%	0.12%
WMS	F	0.07%	-0.41%	-0.41%
WOLF	F	0.0%	-0.47%	-0.47%
WRB	B	0.07%	0.41%	0.07%
WTW	A	0.02%	0.43%	0.02%
X	C	0.03%	0.43%	0.03%
XEL	A	0.11%	0.47%	0.11%
XOM	B	1.04%	0.41%	0.41%
XPO	B	0.04%	-0.48%	-0.48%
YUM	B	0.04%	0.41%	0.04%
Z	B	0.02%	-0.45%	-0.45%
ZI	D	0.0%	0.48%	0.0%
ZION	B	0.05%	-0.46%	-0.46%
ZS	B	0.03%	-0.4%	-0.4%

AVLC Overweight 637 Positions Relative to BTAL

Symbol	Grade	Weight
AAPL	C	5.32%
AMZN	A	2.98%
META	B	2.31%
GOOGL	B	1.59%
GOOG	B	1.32%
JPM	B	1.17%
COST	B	0.93%
LLY	F	0.78%
BRK.A	B	0.66%
MA	B	0.65%
WMT	A	0.63%
CVX	B	0.63%
V	A	0.58%
HD	B	0.56%
CAT	C	0.55%
WFC	A	0.53%
QCOM	F	0.52%
UNP	C	0.48%
NFLX	A	0.47%
GS	B	0.43%
ORCL	A	0.42%
BAC	A	0.41%
AXP	B	0.4%
CRM	B	0.4%
PG	C	0.39%
AMAT	F	0.38%
CMCSA	B	0.38%
COP	C	0.38%
MELI	D	0.36%
MS	A	0.34%
MRK	F	0.33%
DE	D	0.32%
ADBE	C	0.31%
WMB	B	0.29%
NOW	A	0.29%
GM	A	0.29%
TXN	C	0.28%
EOG	A	0.28%
PEP	D	0.27%
INTU	A	0.26%
AMP	A	0.26%
TRGP	B	0.26%
RCL	A	0.26%
FDX	B	0.25%
VRTX	B	0.25%
COF	B	0.23%
GWW	B	0.23%
PNC	B	0.22%
ROST	F	0.22%
MPC	D	0.22%
APD	B	0.22%
KLAC	F	0.22%
NSC	B	0.22%
C	A	0.22%
AIG	B	0.21%
LIN	D	0.21%
ZTS	D	0.2%
ABT	C	0.2%
MET	C	0.2%
FAST	A	0.2%
CMI	A	0.2%
TFC	B	0.19%
AFL	C	0.19%
PSX	D	0.19%
MMM	C	0.19%
UPS	C	0.19%
HES	C	0.19%
GE	C	0.19%
OKE	A	0.19%
TSCO	C	0.18%
CL	F	0.18%
LEN	D	0.18%
PM	C	0.18%
PRU	B	0.18%
PANW	A	0.18%
BK	B	0.18%
UAL	B	0.18%
NUE	C	0.17%
NKE	F	0.17%
DIS	B	0.17%
ISRG	A	0.17%
ADI	F	0.16%
APO	B	0.16%
VLO	D	0.16%
EME	B	0.15%
DOW	F	0.15%
SYF	B	0.15%
TMO	F	0.15%
GEV	B	0.14%
REGN	F	0.14%
KMB	F	0.14%
AEP	D	0.14%
APP	B	0.14%
EBAY	C	0.14%
MLM	B	0.14%
ODFL	B	0.14%
APH	B	0.13%
HAL	C	0.13%
STLD	B	0.13%
BKNG	A	0.13%
CSL	B	0.13%
PCG	A	0.13%
TPL	B	0.13%
DHR	F	0.13%
FITB	A	0.13%
IP	C	0.13%
CDNS	B	0.12%
BBY	D	0.12%
LYB	F	0.12%
ETR	B	0.12%
MDT	D	0.12%
CPNG	B	0.12%
LOW	B	0.12%
SNPS	B	0.12%
WSM	F	0.12%
FCNCA	B	0.12%
VRSK	A	0.12%
BSX	A	0.12%
PHM	D	0.12%
ITW	A	0.12%
SO	D	0.12%
DHI	F	0.12%
JBL	C	0.11%
HBAN	B	0.11%
MRO	B	0.11%
ADM	F	0.11%
SYK	A	0.11%
ULTA	C	0.11%
RJF	A	0.11%
BURL	C	0.11%
FSLR	F	0.11%
MTB	B	0.11%
CTAS	A	0.11%
CTRA	B	0.1%
LII	B	0.1%
RPM	A	0.1%
STT	B	0.1%
FIX	B	0.1%
MCO	C	0.1%
NVR	D	0.1%
EXC	C	0.1%
SW	C	0.1%
FLEX	B	0.1%
SPGI	C	0.09%
HSY	D	0.09%
SBUX	B	0.09%
EXPD	D	0.09%
MDLZ	F	0.09%
EQH	B	0.09%
IT	A	0.09%
SLB	C	0.09%
LVS	C	0.09%
PFG	C	0.09%
PH	A	0.09%
ADSK	A	0.09%
EIX	C	0.09%
CPRT	A	0.09%
GRMN	A	0.09%
PEG	C	0.09%
WDAY	B	0.08%
POOL	D	0.08%
LUV	B	0.08%
JBHT	B	0.08%
ABNB	C	0.08%
JEF	A	0.08%
BJ	B	0.08%
FNF	C	0.08%
TPR	B	0.08%
NXPI	F	0.08%
CTVA	C	0.08%
HPE	B	0.08%
MO	A	0.08%
EWBC	B	0.08%
NCLH	B	0.08%
FTI	B	0.08%
DFS	B	0.08%
CASY	B	0.08%
NTAP	D	0.07%
DTE	D	0.07%
KEYS	C	0.07%
ICE	D	0.07%
DLTR	F	0.07%
PPL	A	0.07%
SYY	B	0.07%
INGR	B	0.07%
JXN	B	0.07%
TDG	B	0.07%
FI	A	0.07%
MLI	B	0.07%
PRI	A	0.07%
SRE	A	0.07%
FICO	B	0.07%
SWKS	F	0.07%
NEE	D	0.07%
GDDY	A	0.07%
RS	B	0.07%
OVV	C	0.07%
CRBG	C	0.06%
HCA	D	0.06%
KEY	B	0.06%
COKE	C	0.06%
AFG	A	0.06%
PR	C	0.06%
VLTO	C	0.06%
LNTH	F	0.06%
KVUE	B	0.06%
ATI	D	0.06%
RL	B	0.06%
GL	B	0.06%
IFF	F	0.06%
MANH	C	0.06%
UHS	D	0.06%
SPOT	A	0.06%
CLX	A	0.06%
LECO	C	0.06%
FIS	B	0.06%
EA	A	0.06%
DCI	A	0.06%
GPK	D	0.06%
BALL	D	0.06%
ANF	D	0.06%
ECL	C	0.06%
DG	F	0.06%
A	F	0.06%
BA	F	0.06%
VMI	B	0.05%
ENSG	C	0.05%
MHK	D	0.05%
WBS	A	0.05%
KDP	D	0.05%
EMN	D	0.05%
AJG	A	0.05%
WTFC	B	0.05%
HUBS	B	0.05%
ATO	A	0.05%
SNOW	C	0.05%
RHI	B	0.05%
CROX	F	0.05%
ZBH	C	0.05%
WFRD	D	0.05%
WST	B	0.05%
CVS	F	0.05%
VMC	B	0.05%
SKX	F	0.05%
DOCU	B	0.05%
MKTX	C	0.05%
EVRG	A	0.05%
TEAM	B	0.05%
STZ	D	0.05%
ALV	C	0.05%
MAR	A	0.05%
HWM	A	0.05%
AIT	A	0.05%
AME	A	0.05%
CBT	C	0.05%
IR	A	0.05%
KNSL	C	0.05%
GGG	B	0.05%
R	A	0.05%
WAT	A	0.05%
WSO	A	0.05%
DDOG	B	0.05%
PPG	F	0.05%
UFPI	B	0.05%
BDX	D	0.05%
CHRD	F	0.05%
CHTR	B	0.05%
EMR	A	0.05%
HLT	A	0.05%
CDW	F	0.05%
MCHP	F	0.05%
ATR	A	0.05%
STE	F	0.04%
CIVI	F	0.04%
AWI	B	0.04%
JCI	A	0.04%
KEX	B	0.04%
CPAY	A	0.04%
EVR	B	0.04%
NBIX	C	0.04%
AOS	F	0.04%
ALNY	D	0.04%
KNX	B	0.04%
ROK	B	0.04%
LH	A	0.04%
AGCO	F	0.04%
XYL	D	0.04%
HUBB	B	0.04%
CLF	D	0.04%
CMC	B	0.04%
IQV	F	0.04%
APTV	D	0.04%
WCN	A	0.04%
OGE	B	0.04%
HII	D	0.04%
KD	A	0.04%
TYL	B	0.04%
MTG	C	0.04%
FN	B	0.04%
CRUS	F	0.04%
PSTG	D	0.04%
NSIT	F	0.04%
BR	A	0.04%
OTIS	C	0.04%
EPAM	B	0.04%
FHN	A	0.04%
TAP	B	0.04%
CBSH	A	0.04%
CRS	B	0.04%
KBH	D	0.04%
GAP	B	0.04%
FDS	A	0.04%
WAB	A	0.04%
LSTR	B	0.04%
JKHY	C	0.04%
AAON	B	0.04%
TSN	C	0.04%
AYI	B	0.04%
MSCI	B	0.04%
ZM	B	0.04%
SF	B	0.04%
OMF	A	0.04%
CFR	B	0.04%
ANSS	B	0.04%
DXCM	C	0.04%
LAD	B	0.03%
LDOS	B	0.03%
RPRX	F	0.03%
DY	C	0.03%
GWRE	A	0.03%
BCC	B	0.03%
MOD	C	0.03%
SCI	B	0.03%
GMED	B	0.03%
FAF	C	0.03%
WLK	F	0.03%
IEX	B	0.03%
IBP	F	0.03%
ROL	B	0.03%
PEGA	A	0.03%
TKR	F	0.03%
ENLC	B	0.03%
NWSA	B	0.03%
OLN	D	0.03%
ZBRA	A	0.03%
HALO	B	0.03%
NU	B	0.03%
UHAL	C	0.03%
HLNE	B	0.03%
CTLT	D	0.03%
LHX	A	0.03%
NYT	C	0.03%
VOYA	B	0.03%
WWD	B	0.03%
MTZ	B	0.03%
EXPO	D	0.03%
BIIB	F	0.03%
GNTX	C	0.03%
HOLX	D	0.03%
ESNT	D	0.03%
TTWO	A	0.03%
SATS	C	0.03%
EHC	A	0.03%
CAH	A	0.03%
AM	B	0.03%
PVH	C	0.03%
SEIC	A	0.03%
PTC	B	0.03%
EXEL	B	0.03%
DOV	A	0.03%
ALK	A	0.03%
K	A	0.03%
BPOP	C	0.03%
STX	D	0.03%
INCY	B	0.03%
RGLD	C	0.03%
MAT	C	0.03%
CIEN	B	0.03%
WBD	B	0.03%
SSB	B	0.03%
GEHC	F	0.03%
MNST	B	0.03%
TWLO	A	0.03%
MTD	F	0.03%
WDC	D	0.03%
CVLT	A	0.03%
LEA	F	0.03%
APA	F	0.03%
ONB	B	0.03%
TTC	F	0.03%
BAH	C	0.03%
AVY	F	0.03%
DTM	B	0.03%
ITCI	C	0.02%
EXLS	B	0.02%
LANC	C	0.02%
FIVE	F	0.02%
AUR	D	0.02%
DPZ	C	0.02%
CGNX	C	0.02%
FRPT	B	0.02%
INSM	D	0.02%
PPC	B	0.02%
BC	C	0.02%
RBC	B	0.02%
MAS	D	0.02%
OKTA	C	0.02%
OMC	B	0.02%
DOCS	B	0.02%
HRL	F	0.02%
VKTX	D	0.02%
AZN	F	0.02%
HOMB	A	0.02%
LNW	F	0.02%
SWK	F	0.02%
FSS	C	0.02%
QRVO	F	0.02%
HLI	B	0.02%
BAX	F	0.02%
BMI	B	0.02%
NOV	C	0.02%
HAS	D	0.02%
GLOB	B	0.02%
ARES	B	0.02%
FE	D	0.02%
FLS	B	0.02%
SWX	B	0.02%
ONTO	F	0.02%
MMSI	B	0.02%
SN	C	0.02%
MOG.A	B	0.02%
OLED	F	0.02%
BRKR	F	0.02%
TECH	B	0.02%
ES	D	0.02%
CNP	B	0.02%
FOX	A	0.02%
LW	C	0.02%
LFUS	D	0.02%
DT	C	0.02%
COOP	B	0.02%
CSWI	B	0.02%
NDAQ	A	0.02%
OSK	B	0.02%
MGY	B	0.02%
ENTG	D	0.02%
MTH	D	0.02%
FLR	C	0.02%
HESM	D	0.02%
SON	D	0.02%
QLYS	B	0.02%
TW	C	0.02%
CADE	B	0.02%
MASI	B	0.02%
IVZ	C	0.02%
RVTY	C	0.02%
PCVX	D	0.02%
THC	B	0.02%
TMHC	C	0.02%
RVMD	B	0.02%
TRMB	B	0.02%
TPX	B	0.02%
PB	B	0.02%
NI	A	0.02%
M	D	0.02%
ACM	B	0.02%
CHDN	C	0.02%
NTNX	B	0.02%
ALLE	D	0.02%
LBRDK	C	0.02%
MEDP	C	0.02%
BPMC	B	0.01%
H	B	0.01%
GFS	C	0.01%
IONS	F	0.01%
ZG	B	0.01%
CHWY	B	0.01%
ADTN	B	0.01%
SMMT	D	0.01%
RRX	C	0.01%
AAL	B	0.01%
CYTK	C	0.01%
PI	D	0.01%
NPAB	F	0.01%
LCID	F	0.01%
LEN	D	0.01%
EXAS	F	0.01%
VAL	F	0.01%
VERX	B	0.01%
UI	B	0.01%
SUM	C	0.01%
ALTR	C	0.01%
NOVT	C	0.01%
WYNN	F	0.01%
CACC	D	0.01%
U	F	0.01%
WTRG	C	0.01%
CAG	F	0.01%
NDSN	B	0.01%
GXO	B	0.01%
TDW	F	0.01%
BRBR	A	0.01%
NWS	B	0.01%
PCOR	B	0.01%
ZETA	D	0.01%
HXL	D	0.01%
BROS	B	0.01%
AVAV	C	0.01%
PSN	B	0.01%
ESAB	B	0.01%
MTN	D	0.01%
MORN	B	0.01%
DDS	C	0.01%
ESTC	C	0.01%
GTLB	B	0.01%
IPG	F	0.01%
AGR	C	0.01%
HSIC	F	0.01%
ACHC	F	0.01%
KRYS	B	0.01%
CWST	A	0.01%
NXST	C	0.01%
SSNC	C	0.01%
MARA	C	0.01%
LKQ	D	0.01%
SOLV	D	0.01%
VRNS	D	0.01%
CWAN	B	0.01%
RRR	F	0.01%
LSCC	D	0.01%
BECN	B	0.01%
APPF	B	0.01%
GPN	B	0.01%
BSY	F	0.01%
BOKF	B	0.01%
VNT	B	0.01%
ATKR	D	0.01%
IDA	A	0.01%
PARA	C	0.01%
OGN	F	0.01%
SJM	F	0.01%
AVTR	F	0.01%
BERY	C	0.01%
LEVI	F	0.01%
AZEK	B	0.01%
NFG	C	0.01%
BEN	C	0.01%
WEX	D	0.01%
XP	F	0.01%
MTSI	B	0.01%
BCPC	B	0.01%
BYD	A	0.01%
MIDD	C	0.01%
AN	C	0.01%
WTS	B	0.01%
SPSC	D	0.01%
PLNT	A	0.01%
DVA	C	0.01%
LUMN	B	0.01%
GKOS	A	0.01%
VVV	B	0.01%
SMAR	A	0.01%
ZWS	B	0.01%
TTEK	C	0.01%
WING	D	0.01%
BIO	C	0.01%
AL	B	0.01%
PFSI	D	0.01%
FTV	D	0.01%
SITE	D	0.01%
PBF	F	0.01%
SM	C	0.01%
CR	B	0.01%
WSC	F	0.01%
MDGL	C	0.01%
PNR	A	0.01%
S	B	0.01%
NVST	C	0.0%
WHR	B	0.0%
RARE	D	0.0%
HIMS	B	0.0%
EMBC	B	0.0%
KLG	D	0.0%
FG	B	0.0%
FFIN	B	0.0%
RNA	B	0.0%
DXC	B	0.0%
IMVT	D	0.0%
SPB	B	0.0%
SIRI	D	0.0%
SAM	B	0.0%
CRVL	B	0.0%
GBCI	B	0.0%
AGO	B	0.0%
BBIO	F	0.0%
UHAL	C	0.0%
APLS	F	0.0%
IPGP	C	0.0%
FNB	A	0.0%
INFA	D	0.0%
ALKS	B	0.0%
FIZZ	B	0.0%
PLUG	D	0.0%
TDC	D	0.0%
RDN	C	0.0%
HCP	A	0.0%
EEFT	C	0.0%
HRI	B	0.0%
SNDR	B	0.0%
WK	B	0.0%
ALIT	B	0.0%
TENB	C	0.0%
FRHC	A	0.0%
OPCH	F	0.0%
LBRDA	C	0.0%
NFE	F	0.0%
BIRK	F	0.0%
ESI	B	0.0%
CRDO	B	0.0%
INSP	F	0.0%
AMG	B	0.0%
MMS	D	0.0%
ACT	C	0.0%
COLB	B	0.0%
POST	D	0.0%
ETSY	C	0.0%
XRAY	F	0.0%
REYN	D	0.0%
TMDX	F	0.0%
BFAM	F	0.0%
CNA	C	0.0%
RDDT	B	0.0%
NUVL	D	0.0%
ALGM	F	0.0%
RBRK	B	0.0%
TKO	D	0.0%
FLUT	A	0.0%

AVLC Underweight 55 Positions Relative to BTAL

Symbol	Grade	Weight
NWL	B	-0.52%
TGNA	B	-0.49%
SBRA	C	-0.49%
WEN	C	-0.48%
WELL	B	-0.48%
CDP	C	-0.47%
OHI	C	-0.46%
PNM	B	-0.45%
THG	A	-0.45%
EDR	C	-0.45%
AVB	A	-0.43%
REG	A	-0.43%
ADC	A	-0.43%
COLM	B	-0.42%
GLPI	D	-0.42%
AVT	C	-0.42%
ELS	C	-0.42%
VICI	D	-0.41%
EQR	C	-0.41%
MSM	B	-0.41%
ASGN	C	-0.41%
WPC	F	-0.4%
CXT	D	-0.4%
O	D	-0.4%
FOXF	F	-0.39%
MAN	F	-0.36%
WTM	A	-0.36%
NTLA	F	--0.27%
RUN	F	--0.3%
OPEN	F	--0.32%
RKT	F	--0.34%
ARWR	C	--0.35%
NVCR	B	--0.36%
GH	B	--0.36%
RIG	D	--0.38%
PLD	D	--0.38%
AGNC	C	--0.39%
CC	C	--0.4%
POWI	C	--0.4%
KSS	F	--0.41%
ARE	F	--0.42%
NWE	C	--0.43%
PENN	B	--0.44%
HHH	B	--0.44%
SHLS	D	--0.44%
DNLI	B	--0.45%
RYN	F	--0.45%
KRC	C	--0.47%
LAMR	D	--0.47%
BXP	D	--0.47%
LITE	A	--0.48%
VNO	C	--0.52%
SMG	D	--0.53%
TDOC	C	--0.54%
PTON	B	--0.76%