AVLC vs. FLQL ETF Comparison

Comparison of Avantis U.S. Large Cap Equity ETF (AVLC) to Franklin LibertyQ U.S. Equity ETF (FLQL)

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

$69.74

Average Daily Volume

19,482

Number of Holdings ^*

976

* may have additional holdings in another (foreign) market

FLQL

Franklin LibertyQ U.S. Equity ETF

FLQL Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the LibertyQ U.S. Large Cap Equity Index (the U.S. Large Cap underlying index). Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the U.S. Large Cap underlying index. The U.S. Large Cap underlying index is based on the Russell 1000® Index using a methodology developed with Franklin Templeton to reflect Franklin Templeton's desired investment strategy.

Grade (RS Rating)

Last Trade

$59.85

Average Daily Volume

76,630

Number of Holdings ^*

210

* may have additional holdings in another (foreign) market

Performance

Period	AVLC	FLQL
30 Days	4.71%	2.44%
60 Days	6.29%	3.55%
90 Days	7.72%	4.50%
12 Months	33.08%	31.26%

188 Overlapping Holdings

Symbol	Grade	Weight in AVLC	Weight in FLQL	Overlap
AAPL	C	5.24%	7.0%	5.24%
ABBV	D	0.38%	1.33%	0.38%
ACGL	D	0.15%	0.26%	0.15%
ADI	D	0.15%	0.32%	0.15%
AFL	B	0.19%	0.23%	0.19%
ALSN	B	0.02%	0.12%	0.02%
AMAT	F	0.36%	0.96%	0.36%
AMCR	D	0.02%	0.09%	0.02%
AMGN	D	0.19%	1.05%	0.19%
AMZN	C	3.03%	2.92%	2.92%
ANET	C	0.15%	0.77%	0.15%
APA	D	0.03%	0.08%	0.03%
APH	A	0.12%	0.6%	0.12%
APP	B	0.16%	0.42%	0.16%
AVGO	D	1.11%	1.77%	1.11%
AWI	A	0.04%	0.12%	0.04%
AXS	A	0.05%	0.11%	0.05%
AYI	B	0.04%	0.12%	0.04%
BBY	D	0.12%	0.11%	0.11%
BJ	A	0.08%	0.11%	0.08%
BKNG	A	0.13%	1.19%	0.13%
BRK.A	B	0.67%	1.11%	0.67%
BSX	B	0.12%	0.84%	0.12%
C	A	0.23%	0.97%	0.23%
CACI	D	0.01%	0.09%	0.01%
CASY	A	0.08%	0.11%	0.08%
CAT	B	0.52%	1.27%	0.52%
CB	C	0.22%	0.56%	0.22%
CF	B	0.09%	0.11%	0.09%
CFG	B	0.08%	0.13%	0.08%
CHE	D	0.02%	0.09%	0.02%
CHRW	C	0.03%	0.1%	0.03%
CI	F	0.07%	0.56%	0.07%
CIVI	D	0.03%	0.08%	0.03%
CL	D	0.18%	0.52%	0.18%
CLH	B	0.04%	0.1%	0.04%
CMG	B	0.23%	0.57%	0.23%
CMI	A	0.21%	0.26%	0.21%
COKE	C	0.06%	0.08%	0.06%
COST	B	0.94%	1.7%	0.94%
CROX	D	0.05%	0.07%	0.05%
CRUS	D	0.04%	0.07%	0.04%
CSL	C	0.13%	0.15%	0.13%
CTAS	B	0.12%	0.46%	0.12%
CTSH	B	0.13%	0.24%	0.13%
CW	B	0.03%	0.11%	0.03%
DAL	C	0.23%	0.2%	0.2%
DECK	A	0.16%	0.22%	0.16%
DELL	C	0.05%	0.19%	0.05%
DGX	A	0.01%	0.1%	0.01%
DHI	D	0.12%	0.36%	0.12%
DKS	C	0.08%	0.1%	0.08%
DPZ	C	0.01%	0.11%	0.01%
DTM	B	0.04%	0.12%	0.04%
DVA	B	0.01%	0.1%	0.01%
DVN	F	0.14%	0.08%	0.08%
EBAY	D	0.14%	0.17%	0.14%
EHC	B	0.03%	0.1%	0.03%
ELV	F	0.13%	0.28%	0.13%
EME	C	0.14%	0.12%	0.12%
EMN	D	0.04%	0.1%	0.04%
ETR	B	0.12%	0.16%	0.12%
EVR	B	0.04%	0.12%	0.04%
FANG	D	0.17%	0.2%	0.17%
FAST	B	0.2%	0.33%	0.2%
FICO	B	0.08%	0.17%	0.08%
FIX	A	0.1%	0.12%	0.1%
FOX	A	0.02%	0.11%	0.02%
FOXA	B	0.05%	0.11%	0.05%
G	B	0.03%	0.11%	0.03%
GAP	C	0.04%	0.09%	0.04%
GD	F	0.05%	0.39%	0.05%
GLW	B	0.09%	0.19%	0.09%
GM	B	0.31%	0.35%	0.31%
GOOG	C	1.3%	1.73%	1.3%
GOOGL	C	1.57%	2.04%	1.57%
GPK	C	0.06%	0.09%	0.06%
GRMN	B	0.1%	0.25%	0.1%
GS	A	0.44%	0.6%	0.44%
GWW	B	0.23%	0.38%	0.23%
HCA	F	0.05%	0.49%	0.05%
HIG	B	0.19%	0.19%	0.19%
HLT	A	0.05%	0.33%	0.05%
HPE	B	0.08%	0.21%	0.08%
HPQ	B	0.05%	0.29%	0.05%
HRB	D	0.03%	0.09%	0.03%
HWM	A	0.05%	0.25%	0.05%
IBM	C	0.27%	1.31%	0.27%
INGR	B	0.07%	0.1%	0.07%
IP	B	0.13%	0.13%	0.13%
ISRG	A	0.18%	1.3%	0.18%
JEF	A	0.08%	0.12%	0.08%
JHG	A	0.02%	0.11%	0.02%
JNJ	D	0.58%	1.55%	0.58%
JNPR	F	0.02%	0.09%	0.02%
JPM	A	1.19%	1.23%	1.19%
K	A	0.03%	0.1%	0.03%
KEX	C	0.04%	0.1%	0.04%
KLAC	D	0.21%	0.67%	0.21%
KMB	D	0.14%	0.14%	0.14%
LDOS	C	0.03%	0.17%	0.03%
LEN	D	0.01%	0.09%	0.01%
LEN	D	0.01%	0.3%	0.01%
LEN	D	0.17%	0.3%	0.17%
LEN	D	0.17%	0.09%	0.09%
LII	A	0.09%	0.15%	0.09%
LLY	F	0.79%	1.31%	0.79%
LMT	D	0.23%	0.4%	0.23%
LNC	B	0.01%	0.11%	0.01%
LRCX	F	0.34%	0.66%	0.34%
LYB	F	0.11%	0.16%	0.11%
M	D	0.02%	0.09%	0.02%
MA	C	0.66%	1.79%	0.66%
MAS	D	0.02%	0.12%	0.02%
MCHP	D	0.05%	0.23%	0.05%
MCO	B	0.1%	0.56%	0.1%
MDU	D	0.02%	0.07%	0.02%
MEDP	D	0.03%	0.08%	0.03%
META	D	2.26%	2.48%	2.26%
MO	A	0.09%	0.85%	0.09%
MPWR	F	0.04%	0.09%	0.04%
MRK	F	0.32%	1.21%	0.32%
MSFT	F	4.39%	5.96%	4.39%
MSI	B	0.23%	0.58%	0.23%
MTG	C	0.04%	0.09%	0.04%
MUSA	A	0.07%	0.11%	0.07%
NEU	C	0.01%	0.09%	0.01%
NFG	A	0.01%	0.1%	0.01%
NRG	B	0.05%	0.12%	0.05%
NTAP	C	0.06%	0.21%	0.06%
NVDA	C	4.82%	6.71%	4.82%
NVR	D	0.1%	0.19%	0.1%
OC	A	0.11%	0.13%	0.11%
OGN	D	0.01%	0.07%	0.01%
OMC	C	0.02%	0.09%	0.02%
ORCL	B	0.42%	0.88%	0.42%
PCAR	B	0.25%	0.44%	0.25%
PEG	A	0.1%	0.22%	0.1%
PH	A	0.09%	0.52%	0.09%
PHM	D	0.12%	0.22%	0.12%
PKG	A	0.12%	0.15%	0.12%
PM	B	0.18%	0.71%	0.18%
PPC	C	0.02%	0.11%	0.02%
QCOM	F	0.48%	1.22%	0.48%
R	B	0.05%	0.11%	0.05%
RCL	A	0.28%	0.17%	0.17%
REGN	F	0.14%	0.59%	0.14%
RGA	A	0.08%	0.11%	0.08%
RGLD	C	0.03%	0.1%	0.03%
RL	B	0.05%	0.12%	0.05%
RMD	C	0.07%	0.13%	0.07%
ROL	B	0.03%	0.1%	0.03%
RSG	A	0.04%	0.31%	0.04%
RTX	C	0.16%	0.5%	0.16%
SNX	C	0.04%	0.09%	0.04%
SO	D	0.13%	0.29%	0.13%
SPOT	B	0.07%	0.22%	0.07%
SSNC	B	0.01%	0.09%	0.01%
STLD	B	0.12%	0.16%	0.12%
SWKS	F	0.07%	0.09%	0.07%
SYF	B	0.15%	0.21%	0.15%
SYK	C	0.12%	0.94%	0.12%
T	A	0.42%	1.07%	0.42%
TER	D	0.05%	0.08%	0.05%
THC	D	0.02%	0.11%	0.02%
TJX	A	0.44%	0.95%	0.44%
TMUS	B	0.31%	0.59%	0.31%
TOL	B	0.07%	0.13%	0.07%
TPL	A	0.13%	0.16%	0.13%
TSCO	D	0.17%	0.15%	0.15%
TSLA	B	0.78%	1.13%	0.78%
TT	A	0.14%	0.65%	0.14%
TXN	C	0.26%	1.24%	0.26%
TXRH	C	0.09%	0.11%	0.09%
UGI	A	0.0%	0.1%	0.0%
UHS	D	0.06%	0.1%	0.06%
UNH	C	0.36%	0.52%	0.36%
URI	B	0.2%	0.38%	0.2%
UTHR	C	0.1%	0.12%	0.1%
VRTX	F	0.25%	0.92%	0.25%
VZ	C	0.45%	1.24%	0.45%
WAB	B	0.04%	0.17%	0.04%
WING	D	0.01%	0.08%	0.01%
WM	A	0.13%	0.67%	0.13%
WMT	A	0.64%	1.68%	0.64%
WSM	B	0.11%	0.15%	0.11%
WSO	A	0.05%	0.13%	0.05%
XOM	B	1.04%	0.63%	0.63%

AVLC Overweight 790 Positions Relative to FLQL

Symbol	Grade	Weight
CVX	A	0.64%
V	A	0.59%
HD	A	0.58%
WFC	A	0.55%
NFLX	A	0.48%
UNP	C	0.47%
PGR	A	0.46%
CRM	B	0.44%
BAC	A	0.42%
KO	D	0.4%
AXP	A	0.4%
PG	A	0.39%
MELI	D	0.39%
CMCSA	B	0.38%
COP	C	0.38%
ADP	B	0.36%
MS	A	0.35%
GILD	C	0.35%
ADBE	C	0.33%
ACN	C	0.32%
PYPL	B	0.32%
AMD	F	0.31%
NOW	A	0.3%
EOG	A	0.3%
DE	A	0.3%
CSCO	B	0.3%
WMB	A	0.29%
TGT	F	0.29%
TRGP	B	0.27%
PEP	F	0.27%
INTU	C	0.27%
FDX	B	0.26%
TRV	B	0.26%
AMP	A	0.26%
CSX	B	0.26%
COF	B	0.23%
FTNT	C	0.23%
USB	A	0.23%
LNG	B	0.23%
APD	A	0.22%
NSC	B	0.22%
PNC	B	0.22%
MPC	D	0.22%
LIN	D	0.21%
SCHW	B	0.21%
ROST	C	0.21%
ALL	A	0.2%
GE	D	0.2%
ABT	B	0.2%
ZTS	D	0.2%
F	C	0.2%
OKE	A	0.2%
MET	A	0.2%
KR	B	0.2%
AIG	B	0.2%
MMM	D	0.19%
PANW	C	0.19%
TFC	A	0.19%
UPS	C	0.19%
HES	B	0.19%
UAL	A	0.19%
PSX	C	0.19%
PLTR	B	0.18%
BK	A	0.18%
DIS	B	0.18%
PRU	A	0.18%
BMY	B	0.18%
FCX	D	0.18%
BLK	C	0.18%
BKR	B	0.18%
PAYX	C	0.17%
VLO	C	0.17%
NKE	D	0.17%
MU	D	0.17%
NUE	C	0.16%
MCD	D	0.16%
DUK	C	0.16%
INTC	D	0.16%
APO	B	0.16%
OXY	D	0.15%
TMO	F	0.15%
PFE	D	0.15%
HON	B	0.15%
KKR	A	0.15%
LULU	C	0.15%
FITB	A	0.14%
DOW	F	0.14%
AEP	D	0.14%
SHW	A	0.14%
MLM	B	0.14%
ETN	A	0.14%
ODFL	B	0.14%
VRT	B	0.13%
CCL	B	0.13%
DHR	F	0.13%
HAL	C	0.13%
VST	B	0.13%
PCG	A	0.13%
GEV	B	0.13%
SNPS	B	0.12%
MTB	A	0.12%
CDNS	B	0.12%
MDT	D	0.12%
CME	A	0.12%
SFM	A	0.12%
FCNCA	A	0.12%
MKL	A	0.12%
CPNG	D	0.12%
LOW	D	0.12%
ITW	B	0.12%
ON	D	0.12%
VRSK	A	0.12%
HBAN	A	0.11%
ULTA	F	0.11%
BX	A	0.11%
NTRS	A	0.11%
MRVL	B	0.11%
ADM	D	0.11%
MRO	B	0.11%
IDXX	F	0.11%
XEL	A	0.11%
CRWD	B	0.11%
EQT	B	0.11%
RJF	A	0.11%
BURL	A	0.11%
CEG	D	0.11%
DRI	B	0.1%
CPRT	A	0.1%
AON	A	0.1%
TROW	B	0.1%
STT	A	0.1%
FLEX	A	0.1%
RPM	A	0.1%
SW	A	0.1%
LPLA	A	0.1%
CTRA	B	0.1%
JBL	B	0.1%
KMI	A	0.1%
EXC	C	0.1%
FSLR	F	0.1%
MSTR	C	0.09%
VTRS	A	0.09%
LVS	C	0.09%
CVNA	B	0.09%
SPGI	C	0.09%
EXPD	D	0.09%
EQH	B	0.09%
ROP	B	0.09%
MDLZ	F	0.09%
MMC	B	0.09%
SLB	C	0.09%
PFG	D	0.09%
COR	B	0.09%
SBUX	A	0.09%
IT	C	0.09%
HSY	F	0.09%
EIX	B	0.09%
PWR	A	0.09%
UBER	D	0.09%
ADSK	A	0.09%
CNC	D	0.08%
OVV	B	0.08%
EG	C	0.08%
EW	C	0.08%
NXPI	D	0.08%
JBHT	C	0.08%
BG	F	0.08%
GDDY	A	0.08%
LUV	C	0.08%
SNA	A	0.08%
RF	A	0.08%
AEE	A	0.08%
CTVA	C	0.08%
WDAY	B	0.08%
TPR	B	0.08%
FNF	B	0.08%
COIN	C	0.08%
FTI	A	0.08%
ED	D	0.08%
NCLH	B	0.08%
DFS	B	0.08%
EWBC	A	0.08%
SQ	B	0.07%
ICE	C	0.07%
DTE	C	0.07%
L	A	0.07%
CINF	A	0.07%
WCC	B	0.07%
MOH	F	0.07%
PAYC	B	0.07%
MCK	B	0.07%
ORLY	B	0.07%
SAIA	B	0.07%
JXN	C	0.07%
DLTR	F	0.07%
WRB	A	0.07%
ABNB	C	0.07%
MLI	C	0.07%
SYY	B	0.07%
POOL	C	0.07%
PPL	B	0.07%
RS	B	0.07%
NEE	D	0.07%
FI	A	0.07%
BLDR	D	0.07%
TDG	D	0.07%
RNR	C	0.07%
SRE	A	0.07%
PRI	A	0.07%
EXP	A	0.07%
UNM	A	0.06%
ALLY	C	0.06%
PR	B	0.06%
VLTO	D	0.06%
KVUE	A	0.06%
WAL	B	0.06%
CMA	A	0.06%
LECO	B	0.06%
IFF	D	0.06%
ATI	D	0.06%
GL	B	0.06%
BA	F	0.06%
WMS	D	0.06%
CMS	C	0.06%
CARR	D	0.06%
MANH	D	0.06%
GPC	D	0.06%
GNRC	B	0.06%
AFG	A	0.06%
CLX	B	0.06%
A	D	0.06%
BWXT	B	0.06%
FIS	C	0.06%
DCI	B	0.06%
PFGC	B	0.06%
EA	A	0.06%
DG	F	0.06%
ANF	C	0.06%
DASH	A	0.06%
KEYS	A	0.06%
DD	D	0.06%
LPX	B	0.06%
ECL	D	0.06%
CBRE	B	0.06%
BALL	D	0.06%
AES	F	0.06%
VMI	B	0.05%
ORI	A	0.05%
ENSG	D	0.05%
AZO	C	0.05%
NOC	D	0.05%
MSCI	C	0.05%
ZM	B	0.05%
CVS	D	0.05%
TAP	C	0.05%
TSN	B	0.05%
WFRD	D	0.05%
MOS	F	0.05%
KDP	D	0.05%
SKX	D	0.05%
JLL	D	0.05%
DXCM	D	0.05%
AJG	B	0.05%
KHC	F	0.05%
RHI	B	0.05%
PNW	B	0.05%
WBS	A	0.05%
MKTX	D	0.05%
ZBH	C	0.05%
ARW	D	0.05%
CBT	C	0.05%
HUM	C	0.05%
WTFC	A	0.05%
VMC	B	0.05%
ATO	A	0.05%
CHD	B	0.05%
MTDR	B	0.05%
AAON	B	0.05%
D	C	0.05%
SNOW	C	0.05%
CDW	F	0.05%
KMX	B	0.05%
BWA	D	0.05%
ALV	C	0.05%
PPG	F	0.05%
AXON	A	0.05%
HUBS	A	0.05%
DDOG	A	0.05%
EVRG	A	0.05%
TXT	D	0.05%
CHRD	D	0.05%
VEEV	C	0.05%
STZ	D	0.05%
AIZ	A	0.05%
WAT	B	0.05%
UFPI	B	0.05%
ZION	B	0.05%
IR	B	0.05%
MAR	B	0.05%
LNTH	D	0.05%
AIT	A	0.05%
GGG	B	0.05%
FYBR	D	0.05%
WST	C	0.05%
AME	A	0.05%
DOCU	A	0.05%
FND	C	0.05%
CRBG	B	0.05%
BDX	F	0.05%
TEAM	A	0.05%
HOOD	B	0.05%
TTD	B	0.05%
KNSL	B	0.05%
EMR	A	0.05%
CHTR	C	0.05%
KEY	B	0.05%
ATR	B	0.05%
AGCO	D	0.04%
ALNY	D	0.04%
SSD	D	0.04%
TWLO	A	0.04%
LNT	A	0.04%
STE	F	0.04%
KNX	B	0.04%
FMC	D	0.04%
NBIX	C	0.04%
ILMN	D	0.04%
HUBB	B	0.04%
NSIT	F	0.04%
PSTG	D	0.04%
JCI	C	0.04%
XPO	B	0.04%
XYL	D	0.04%
YUM	B	0.04%
IQV	D	0.04%
DINO	D	0.04%
FN	D	0.04%
LH	C	0.04%
ROK	B	0.04%
CMC	B	0.04%
CPAY	A	0.04%
NET	B	0.04%
ALGN	D	0.04%
APTV	D	0.04%
TYL	B	0.04%
OGE	B	0.04%
WCN	A	0.04%
OTIS	C	0.04%
HII	D	0.04%
TREX	C	0.04%
ITT	A	0.04%
KBH	D	0.04%
KD	B	0.04%
CSGP	D	0.04%
WEC	A	0.04%
AXTA	A	0.04%
SOFI	A	0.04%
RRC	B	0.04%
BR	A	0.04%
JKHY	D	0.04%
JAZZ	B	0.04%
CRS	A	0.04%
FHN	A	0.04%
ANSS	B	0.04%
LSTR	D	0.04%
EPAM	C	0.04%
SF	B	0.04%
CBSH	A	0.04%
FDS	B	0.04%
CHX	C	0.04%
CFR	B	0.04%
OMF	A	0.04%
EXPE	B	0.04%
MHK	D	0.04%
DOX	D	0.03%
GWRE	A	0.03%
IBKR	A	0.03%
COHR	B	0.03%
MOD	A	0.03%
SCI	B	0.03%
LAD	A	0.03%
IBP	D	0.03%
BCC	B	0.03%
BLD	D	0.03%
MRNA	F	0.03%
GMED	A	0.03%
TKR	D	0.03%
DY	D	0.03%
IEX	B	0.03%
FAF	A	0.03%
ENLC	A	0.03%
UHAL	D	0.03%
RLI	B	0.03%
GME	C	0.03%
NWSA	B	0.03%
FFIV	B	0.03%
X	C	0.03%
AFRM	B	0.03%
HALO	F	0.03%
BIIB	F	0.03%
OLN	D	0.03%
PEGA	A	0.03%
NYT	C	0.03%
ZS	C	0.03%
CTLT	B	0.03%
AWK	D	0.03%
ZBRA	B	0.03%
MTZ	B	0.03%
MDB	C	0.03%
PODD	C	0.03%
HLNE	B	0.03%
WWD	B	0.03%
EXPO	D	0.03%
NU	C	0.03%
VOYA	B	0.03%
BMRN	D	0.03%
STX	D	0.03%
CBOE	B	0.03%
MTD	D	0.03%
LHX	C	0.03%
WDC	D	0.03%
MUR	D	0.03%
AM	A	0.03%
PVH	C	0.03%
AKAM	D	0.03%
HOLX	D	0.03%
GNTX	C	0.03%
EXEL	B	0.03%
TTWO	A	0.03%
RIVN	F	0.03%
GEHC	F	0.03%
INCY	C	0.03%
ESNT	D	0.03%
MAT	D	0.03%
SEIC	B	0.03%
AA	B	0.03%
GIS	D	0.03%
DOV	A	0.03%
PTC	A	0.03%
ALK	C	0.03%
SSB	B	0.03%
CAH	B	0.03%
BPOP	B	0.03%
VFC	C	0.03%
TTC	D	0.03%
TDY	B	0.03%
CIEN	B	0.03%
BAH	F	0.03%
WBD	C	0.03%
AR	B	0.03%
MNST	C	0.03%
PNFP	B	0.03%
LEA	D	0.03%
CLF	F	0.03%
CVLT	B	0.03%
AVY	D	0.03%
SNV	B	0.03%
AOS	F	0.03%
ONB	B	0.03%
PCTY	B	0.02%
PNR	A	0.02%
EXLS	B	0.02%
LNW	D	0.02%
ROIV	C	0.02%
MSA	D	0.02%
BRO	B	0.02%
BC	C	0.02%
INSM	C	0.02%
FRPT	B	0.02%
RBC	A	0.02%
TRU	D	0.02%
SWK	D	0.02%
CHH	A	0.02%
QRVO	F	0.02%
OKTA	C	0.02%
HRL	D	0.02%
ARMK	B	0.02%
FCN	D	0.02%
AZN	D	0.02%
BAX	D	0.02%
NVT	B	0.02%
HOMB	A	0.02%
OZK	B	0.02%
WTW	B	0.02%
FSS	B	0.02%
ROKU	D	0.02%
OLED	D	0.02%
ONTO	D	0.02%
CNM	D	0.02%
NOV	C	0.02%
HAS	D	0.02%
SIGI	C	0.02%
DAR	C	0.02%
BRKR	D	0.02%
BMI	B	0.02%
HLI	B	0.02%
ARES	A	0.02%
FLR	B	0.02%
GLOB	B	0.02%
FE	C	0.02%
OLLI	D	0.02%
Z	A	0.02%
LYV	A	0.02%
MMSI	B	0.02%
MOG.A	B	0.02%
FLS	B	0.02%
DOCS	C	0.02%
TOST	B	0.02%
LFUS	F	0.02%
TECH	D	0.02%
SWX	B	0.02%
ES	D	0.02%
CCK	C	0.02%
FBIN	D	0.02%
VRSN	F	0.02%
LW	C	0.02%
EFX	F	0.02%
MTH	D	0.02%
SN	D	0.02%
EL	F	0.02%
DT	C	0.02%
CNP	B	0.02%
COOP	B	0.02%
CG	A	0.02%
NEM	D	0.02%
ENTG	D	0.02%
OSK	B	0.02%
CSWI	A	0.02%
PINS	D	0.02%
HESM	B	0.02%
MGY	A	0.02%
PCVX	D	0.02%
NTRA	B	0.02%
NDAQ	A	0.02%
QLYS	C	0.02%
TW	A	0.02%
IVZ	B	0.02%
SON	D	0.02%
RVTY	F	0.02%
TMHC	B	0.02%
AMKR	D	0.02%
RVMD	C	0.02%
MASI	A	0.02%
CHDN	B	0.02%
LBRDK	C	0.02%
CADE	B	0.02%
TRMB	B	0.02%
ALLE	D	0.02%
TPX	B	0.02%
ERIE	D	0.02%
ACM	A	0.02%
RPRX	D	0.02%
TFX	F	0.02%
WLK	D	0.02%
NTNX	A	0.02%
NI	A	0.02%
PB	A	0.02%
SATS	D	0.02%
GFS	C	0.01%
SNAP	C	0.01%
LYFT	C	0.01%
HEI	B	0.01%
SEE	C	0.01%
RMBS	C	0.01%
ELF	C	0.01%
FLUT	A	0.01%
H	B	0.01%
PAG	B	0.01%
SMMT	D	0.01%
IONS	F	0.01%
ADTN	A	0.01%
PI	D	0.01%
RRX	B	0.01%
ZG	A	0.01%
CE	F	0.01%
BBWI	D	0.01%
CFLT	B	0.01%
TNET	D	0.01%
CYTK	F	0.01%
CHWY	B	0.01%
LCID	F	0.01%
AAL	B	0.01%
GTLS	B	0.01%
U	C	0.01%
CWEN	C	0.01%
TDW	F	0.01%
EXAS	D	0.01%
RGEN	D	0.01%
VAL	D	0.01%
NOVT	D	0.01%
VERX	B	0.01%
SUM	B	0.01%
ALTR	B	0.01%
WYNN	D	0.01%
CACC	D	0.01%
PEN	B	0.01%
WTRG	B	0.01%
CAG	D	0.01%
CPB	D	0.01%
DKNG	B	0.01%
NDSN	B	0.01%
GXO	B	0.01%
HQY	B	0.01%
NXST	C	0.01%
PATH	C	0.01%
AVAV	D	0.01%
NWS	B	0.01%
HXL	D	0.01%
ESAB	B	0.01%
DDS	B	0.01%
BRBR	A	0.01%
PCOR	B	0.01%
NPAB	B	0.01%
ACHC	F	0.01%
PSN	D	0.01%
IPG	D	0.01%
DLB	B	0.01%
FOUR	B	0.01%
MORN	B	0.01%
HEI	B	0.01%
GTLB	B	0.01%
HSIC	B	0.01%
BROS	B	0.01%
MTN	C	0.01%
SOLV	C	0.01%
MKSI	C	0.01%
KRYS	B	0.01%
AGR	B	0.01%
BILL	A	0.01%
CWAN	B	0.01%
RRR	D	0.01%
LSCC	D	0.01%
ESTC	C	0.01%
UI	A	0.01%
CWST	A	0.01%
DBX	B	0.01%
VRNS	D	0.01%
LKQ	D	0.01%
DUOL	A	0.01%
MTCH	D	0.01%
ATKR	C	0.01%
BSY	D	0.01%
BECN	B	0.01%
VNT	B	0.01%
USFD	A	0.01%
APPF	B	0.01%
AVTR	F	0.01%
PARA	C	0.01%
MARA	C	0.01%
BOKF	B	0.01%
SJM	D	0.01%
GPN	B	0.01%
J	F	0.01%
RYAN	B	0.01%
SRPT	D	0.01%
RBLX	C	0.01%
BERY	B	0.01%
MTSI	B	0.01%
KBR	F	0.01%
IDA	A	0.01%
XP	F	0.01%
LEVI	F	0.01%
WEX	D	0.01%
CRL	C	0.01%
MGM	D	0.01%
BEN	C	0.01%
AZEK	A	0.01%
MIDD	C	0.01%
BCPC	B	0.01%
ENPH	F	0.01%
LUMN	C	0.01%
AN	C	0.01%
BYD	C	0.01%
VVV	F	0.01%
SPSC	C	0.01%
WTS	B	0.01%
BIO	D	0.01%
SMAR	A	0.01%
TTEK	F	0.01%
PLNT	A	0.01%
ZWS	B	0.01%
MDGL	B	0.01%
MKC	D	0.01%
WSC	D	0.01%
GKOS	B	0.01%
PFSI	D	0.01%
SITE	D	0.01%
IOT	A	0.01%
VKTX	F	0.01%
AL	B	0.01%
PBF	D	0.01%
FTV	C	0.01%
THO	B	0.01%
ELAN	D	0.01%
FIVE	F	0.01%
SM	B	0.01%
SMCI	F	0.01%
CR	A	0.01%
WH	B	0.01%
ALB	C	0.01%
LANC	C	0.01%
ITCI	C	0.01%
AUR	C	0.01%
CELH	F	0.01%
S	B	0.01%
CGNX	C	0.01%
NVST	B	0.0%
TPG	A	0.0%
CRSP	D	0.0%
WOLF	F	0.0%
WHR	B	0.0%
RARE	D	0.0%
AGL	F	0.0%
EMBC	C	0.0%
KLG	C	0.0%
HIMS	B	0.0%
SEDG	F	0.0%
COTY	F	0.0%
FG	B	0.0%
CNXC	F	0.0%
FFIN	B	0.0%
IMVT	F	0.0%
DXC	B	0.0%
RNA	D	0.0%
SPB	C	0.0%
TXG	F	0.0%
SIRI	C	0.0%
WBA	F	0.0%
SAM	C	0.0%
BRZE	C	0.0%
CRVL	A	0.0%
BBIO	F	0.0%
GBCI	B	0.0%
UHAL	D	0.0%
AGO	B	0.0%
APLS	D	0.0%
IPGP	D	0.0%
INFA	D	0.0%
FNB	A	0.0%
PLUG	F	0.0%
ZI	D	0.0%
ALKS	B	0.0%
FIZZ	C	0.0%
CWEN	C	0.0%
TDC	D	0.0%
RDN	C	0.0%
HCP	B	0.0%
CAR	C	0.0%
EEFT	B	0.0%
HRI	B	0.0%
SNDR	B	0.0%
WK	B	0.0%
TENB	C	0.0%
FLO	D	0.0%
ALIT	C	0.0%
FRHC	B	0.0%
ST	F	0.0%
LBRDA	C	0.0%
OPCH	D	0.0%
W	F	0.0%
NFE	D	0.0%
BIRK	D	0.0%
OWL	A	0.0%
INSP	D	0.0%
ESI	A	0.0%
CRDO	B	0.0%
CZR	F	0.0%
MMS	F	0.0%
AMG	B	0.0%
COLB	A	0.0%
POST	C	0.0%
ACT	D	0.0%
ETSY	D	0.0%
BFAM	D	0.0%
XRAY	F	0.0%
REYN	D	0.0%
CNA	B	0.0%
NUVL	D	0.0%
DAY	B	0.0%
RDDT	B	0.0%
TMDX	F	0.0%
SAIC	F	0.0%
ALGM	D	0.0%
ZETA	D	0.0%
RBRK	A	0.0%
RH	B	0.0%
SLGN	A	0.0%
TKO	B	0.0%
APG	B	0.0%
BPMC	C	0.0%

AVLC Underweight 24 Positions Relative to FLQL

Symbol	Grade	Weight
SPG	B	-0.46%
PSA	D	-0.38%
IRM	D	-0.18%
O	D	-0.15%
TNL	A	-0.12%
EXR	D	-0.11%
LOPE	B	-0.11%
ESS	B	-0.11%
OHI	C	-0.1%
SCCO	F	-0.1%
LAMR	D	-0.1%
AVB	B	-0.1%
ADC	B	-0.1%
VICI	C	-0.1%
KRC	C	-0.1%
CUZ	B	-0.1%
WU	D	-0.09%
NNN	D	-0.09%
EPR	D	-0.09%
PK	B	-0.09%
GLPI	C	-0.09%
AVT	C	-0.09%
HIW	D	-0.09%
CRI	D	-0.08%