AVLC vs. NZUS ETF Comparison

Comparison of Avantis U.S. Large Cap Equity ETF (AVLC) to SPDR MSCI USA Climate Paris Aligned ETF (NZUS)

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

$69.29

Average Daily Volume

19,774

Number of Holdings ^*

976

* may have additional holdings in another (foreign) market

NZUS

SPDR MSCI USA Climate Paris Aligned ETF

NZUS Description

SPDR Series Trust - SPDR MSCI USA Climate Paris Aligned ETF is an exchange traded fund launched by State Street Global Advisors, Inc. The fund is managed by SSGA Funds Management, Inc. It invests in public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors. It invests in growth and value stocks of companies across diversified market capitalization. The fund invests in stocks of companies that are deemed socially conscious in their business dealings and directly promote environmental responsibility. It seeks to track the performance of the MSCI USA Climate Paris Aligned Index, by using representative sampling technique. It does not invest in stocks of companies operating across cluster bombs, landmines, depleted uranium, chemical or biological weapons, blinding laser weapons, non-detectable fragments or incendiary weapons, tobacco, mining of thermal coal, oil and gas related activities, including distribution / retail, equipment and services, extraction and production, petrochemicals, pipelines and transportation and refining, thermal coal based, liquid fuel based and natural gas based power generation sectors. SPDR Series Trust - SPDR MSCI USA Climate Paris Aligned ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$33.36

Average Daily Volume

297

Number of Holdings ^*

249

* may have additional holdings in another (foreign) market

Performance

Period	AVLC	NZUS
30 Days	3.17%	1.52%
60 Days	5.71%	3.56%
90 Days	7.02%	5.22%
12 Months	32.22%	31.25%

230 Overlapping Holdings

	Symbol	Grade	Weight in AVLC	Weight in NZUS	Overlap
	A	D	0.06%	0.09%	0.06%
	AAPL	C	5.24%	6.92%	5.24%
	ABBV	F	0.38%	0.56%	0.38%
	ABNB	C	0.07%	0.19%	0.07%
	ACGL	C	0.15%	0.24%	0.15%
	ACM	B	0.02%	0.57%	0.02%
	ACN	B	0.32%	0.62%	0.32%
	ADBE	C	0.33%	0.57%	0.33%
	ADI	D	0.15%	0.61%	0.15%
	ADP	A	0.36%	0.09%	0.09%
	ADSK	A	0.09%	0.27%	0.09%
	AFG	A	0.06%	0.17%	0.06%
	AFL	B	0.19%	0.57%	0.19%
	AJG	A	0.05%	0.1%	0.05%
	ALGN	D	0.04%	0.03%	0.03%
	ALL	A	0.2%	0.14%	0.14%
	ALLE	C	0.02%	0.24%	0.02%
	ALNY	D	0.04%	0.1%	0.04%
	AMD	F	0.31%	0.56%	0.31%
	AME	A	0.05%	0.55%	0.05%
	AMGN	F	0.19%	0.26%	0.19%
	AMP	A	0.26%	0.04%	0.04%
	AMZN	C	3.03%	3.6%	3.03%
	ANET	C	0.15%	0.07%	0.07%
	ANSS	B	0.04%	0.06%	0.04%
	AON	A	0.1%	0.19%	0.1%
	AOS	F	0.03%	0.05%	0.03%
	APH	A	0.12%	0.19%	0.12%
	APO	B	0.16%	0.22%	0.16%
	AVGO	D	1.11%	1.63%	1.11%
	AVTR	F	0.01%	0.03%	0.01%
	AWK	C	0.03%	0.55%	0.03%
	AXON	A	0.05%	0.16%	0.05%
	AXP	A	0.4%	0.39%	0.39%
	BAC	A	0.42%	0.01%	0.01%
	BAH	F	0.03%	0.03%	0.03%
	BAX	F	0.02%	0.01%	0.01%
	BDX	F	0.05%	0.09%	0.05%
	BIIB	F	0.03%	0.05%	0.03%
	BIO	C	0.01%	0.04%	0.01%
	BK	A	0.18%	0.22%	0.18%
	BLK	B	0.18%	0.12%	0.12%
	BMRN	F	0.03%	0.05%	0.03%
	BMY	B	0.18%	0.36%	0.18%
	BRO	B	0.02%	0.21%	0.02%
	BSX	A	0.12%	0.29%	0.12%
	BX	A	0.11%	0.24%	0.11%
	CB	C	0.22%	0.39%	0.22%
	CBOE	C	0.03%	0.11%	0.03%
	CHD	A	0.05%	0.21%	0.05%
	CHTR	C	0.05%	0.13%	0.05%
	CINF	A	0.07%	0.14%	0.07%
	CMCSA	B	0.38%	0.23%	0.23%
	CME	B	0.12%	0.31%	0.12%
	CMG	B	0.23%	0.16%	0.16%
	COIN	C	0.08%	0.02%	0.02%
	CPRT	B	0.1%	0.17%	0.1%
	CRM	B	0.44%	0.83%	0.44%
	CSCO	B	0.3%	0.84%	0.3%
	CSGP	D	0.04%	0.09%	0.04%
	CSX	C	0.26%	0.01%	0.01%
	CTAS	B	0.12%	0.2%	0.12%
	CTLT	C	0.03%	0.04%	0.03%
	DFS	B	0.08%	0.08%	0.08%
	DGX	A	0.01%	0.03%	0.01%
	DHR	F	0.13%	0.5%	0.13%
	DIS	B	0.18%	0.45%	0.18%
	DOCU	B	0.05%	0.02%	0.02%
	DXCM	C	0.05%	0.08%	0.05%
	EBAY	D	0.14%	0.18%	0.14%
	ECL	D	0.06%	0.15%	0.06%
	EFX	F	0.02%	0.09%	0.02%
	EIX	B	0.09%	1.25%	0.09%
	EL	F	0.02%	0.03%	0.02%
	ELV	F	0.13%	0.21%	0.13%
	ENPH	F	0.01%	0.22%	0.01%
	EPAM	B	0.04%	0.01%	0.01%
	ERIE	D	0.02%	0.09%	0.02%
	ETN	A	0.14%	0.11%	0.11%
	EW	C	0.08%	0.19%	0.08%
	EXAS	D	0.01%	0.02%	0.01%
	FAST	B	0.2%	0.24%	0.2%
	FDS	B	0.04%	0.11%	0.04%
	FFIV	B	0.03%	0.16%	0.03%
	FI	A	0.07%	0.1%	0.07%
	FOX	A	0.02%	0.03%	0.02%
	FOXA	A	0.05%	0.04%	0.04%
	FSLR	F	0.1%	0.64%	0.1%
	FTNT	C	0.23%	0.12%	0.12%
	FTV	C	0.01%	0.36%	0.01%
	GGG	B	0.05%	0.11%	0.05%
	GILD	C	0.35%	0.03%	0.03%
	GOOG	C	1.3%	2.32%	1.3%
	GOOGL	C	1.57%	1.19%	1.19%
	GRMN	B	0.1%	0.25%	0.1%
	GWW	B	0.23%	0.04%	0.04%
	HD	B	0.58%	0.93%	0.58%
	HIG	B	0.19%	0.17%	0.17%
	HLT	A	0.05%	0.04%	0.04%
	HOLX	D	0.03%	0.08%	0.03%
	HSY	F	0.09%	0.28%	0.09%
	HUBS	A	0.05%	0.03%	0.03%
	HUM	C	0.05%	0.08%	0.05%
	IBM	C	0.27%	1.25%	0.27%
	ICE	C	0.07%	0.27%	0.07%
	IDXX	F	0.11%	0.13%	0.11%
	IEX	C	0.03%	0.26%	0.03%
	ILMN	C	0.04%	0.05%	0.04%
	INCY	C	0.03%	0.04%	0.03%
	INTC	C	0.16%	0.29%	0.16%
	INTU	B	0.27%	0.62%	0.27%
	IQV	F	0.04%	0.02%	0.02%
	IR	B	0.05%	0.04%	0.04%
	ISRG	A	0.18%	0.38%	0.18%
	ITW	B	0.12%	0.36%	0.12%
	JNJ	C	0.58%	0.93%	0.58%
	JNPR	D	0.02%	0.29%	0.02%
	JPM	A	1.19%	1.32%	1.19%
	KDP	F	0.05%	0.07%	0.05%
	KEYS	A	0.06%	0.12%	0.06%
	KKR	A	0.15%	0.18%	0.15%
	KLAC	F	0.21%	0.21%	0.21%
	LH	B	0.04%	0.02%	0.02%
	LLY	F	0.79%	1.57%	0.79%
	LOW	C	0.12%	0.05%	0.05%
	LULU	C	0.15%	0.09%	0.09%
	MA	B	0.66%	1.27%	0.66%
	MCD	D	0.16%	0.95%	0.16%
	MCO	B	0.1%	0.57%	0.1%
	MDB	B	0.03%	0.01%	0.01%
	MDT	D	0.12%	0.31%	0.12%
	MELI	C	0.39%	0.22%	0.22%
	MET	A	0.2%	0.13%	0.13%
	META	D	2.26%	2.46%	2.26%
	MKC	C	0.01%	0.01%	0.01%
	MKL	A	0.12%	0.13%	0.12%
	MKTX	D	0.05%	0.07%	0.05%
	MMC	B	0.09%	0.33%	0.09%
	MNST	C	0.03%	0.14%	0.03%
	MPWR	F	0.04%	0.09%	0.04%
	MRK	D	0.32%	0.66%	0.32%
	MRNA	F	0.03%	0.01%	0.01%
	MRVL	B	0.11%	0.31%	0.11%
	MSFT	D	4.39%	6.65%	4.39%
	MSI	B	0.23%	0.52%	0.23%
	MTB	A	0.12%	0.08%	0.08%
	MTCH	D	0.01%	0.02%	0.01%
	MTD	F	0.03%	0.31%	0.03%
	NBIX	C	0.04%	0.04%	0.04%
	NDAQ	A	0.02%	0.13%	0.02%
	NEM	D	0.02%	0.09%	0.02%
	NFLX	A	0.48%	0.83%	0.48%
	NKE	F	0.17%	0.08%	0.08%
	NOW	A	0.3%	0.91%	0.3%
	NTRS	A	0.11%	0.09%	0.09%
	NVDA	B	4.82%	7.56%	4.82%
	ODFL	C	0.14%	0.19%	0.14%
	OKTA	C	0.02%	0.02%	0.02%
	ORCL	A	0.42%	0.82%	0.42%
	PANW	B	0.19%	0.06%	0.06%
	PAYC	B	0.07%	0.01%	0.01%
	PAYX	B	0.17%	0.15%	0.15%
	PFE	F	0.15%	0.24%	0.15%
	PGR	A	0.46%	0.36%	0.36%
	PINS	F	0.02%	0.02%	0.02%
	PNR	A	0.02%	0.48%	0.02%
	PODD	C	0.03%	0.05%	0.03%
	PYPL	B	0.32%	0.2%	0.2%
	QCOM	F	0.48%	0.44%	0.44%
	REGN	F	0.14%	0.2%	0.14%
	RIVN	F	0.03%	0.28%	0.03%
	RMD	C	0.07%	0.14%	0.07%
	ROK	C	0.04%	0.46%	0.04%
	ROL	B	0.03%	0.12%	0.03%
	ROP	B	0.09%	0.17%	0.09%
	ROST	D	0.21%	0.14%	0.14%
	RPRX	D	0.02%	0.12%	0.02%
	RVTY	F	0.02%	0.11%	0.02%
	SBUX	A	0.09%	0.28%	0.09%
	SCHW	B	0.21%	0.43%	0.21%
	SEIC	B	0.03%	0.1%	0.03%
	SHW	B	0.14%	1.52%	0.14%
	SMCI	F	0.01%	0.01%	0.01%
	SNAP	D	0.01%	0.02%	0.01%
	SNOW	B	0.05%	0.02%	0.02%
	SNPS	B	0.12%	0.22%	0.12%
	SPGI	C	0.09%	0.76%	0.09%
	SQ	A	0.07%	0.03%	0.03%
	STZ	D	0.05%	0.03%	0.03%
	SYK	B	0.12%	0.35%	0.12%
	TECH	F	0.02%	0.03%	0.02%
	TFX	F	0.02%	0.04%	0.02%
	TJX	A	0.44%	0.4%	0.4%
	TMO	F	0.15%	0.49%	0.15%
	TMUS	B	0.31%	0.05%	0.05%
	TRMB	B	0.02%	0.13%	0.02%
	TROW	B	0.1%	0.11%	0.1%
	TRU	D	0.02%	0.01%	0.01%
	TRV	B	0.26%	0.07%	0.07%
	TSLA	B	0.78%	3.03%	0.78%
	TTD	B	0.05%	0.05%	0.05%
	TTWO	A	0.03%	0.03%	0.03%
	TW	A	0.02%	0.02%	0.02%
	TXN	C	0.26%	0.67%	0.26%
	TYL	B	0.04%	0.05%	0.04%
	UBER	F	0.09%	0.2%	0.09%
	ULTA	F	0.11%	0.07%	0.07%
	UNH	B	0.36%	1.18%	0.36%
	UNP	C	0.47%	0.2%	0.2%
	USB	A	0.23%	0.13%	0.13%
	V	A	0.59%	1.8%	0.59%
	VEEV	C	0.05%	0.07%	0.05%
	VLTO	C	0.06%	0.15%	0.06%
	VMC	B	0.05%	0.05%	0.05%
	VRSK	A	0.12%	0.16%	0.12%
	VRSN	C	0.02%	0.15%	0.02%
	VRTX	D	0.25%	0.27%	0.25%
	VZ	C	0.45%	0.12%	0.12%
	WAT	C	0.05%	0.19%	0.05%
	WDAY	B	0.08%	0.08%	0.08%
	WFC	A	0.55%	0.29%	0.29%
	WM	B	0.13%	0.04%	0.04%
	WRB	A	0.07%	0.09%	0.07%
	WST	C	0.05%	0.23%	0.05%
	WTW	B	0.02%	0.14%	0.02%
	XYL	D	0.04%	1.14%	0.04%
	YUM	D	0.04%	0.15%	0.04%
	ZBH	C	0.05%	0.07%	0.05%
	ZM	C	0.05%	0.02%	0.02%
	ZTS	D	0.2%	0.53%	0.2%

AVLC Overweight 746 Positions Relative to NZUS

	Symbol	Grade	Weight
	XOM	B	1.04%
	COST	A	0.94%
	BRK.A	B	0.67%
	CVX	A	0.64%
	WMT	A	0.64%
	CAT	B	0.52%
	GS	A	0.44%
	T	A	0.42%
	KO	D	0.4%
	PG	C	0.39%
	COP	C	0.38%
	AMAT	F	0.36%
	MS	A	0.35%
	LRCX	F	0.34%
	GM	C	0.31%
	EOG	A	0.3%
	DE	B	0.3%
	WMB	A	0.29%
	TGT	F	0.29%
	RCL	A	0.28%
	TRGP	A	0.27%
	PEP	F	0.27%
	FDX	B	0.26%
	PCAR	B	0.25%
	C	A	0.23%
	LMT	D	0.23%
	COF	C	0.23%
	LNG	A	0.23%
	DAL	B	0.23%
	APD	A	0.22%
	NSC	B	0.22%
	PNC	B	0.22%
	MPC	D	0.22%
	LIN	C	0.21%
	CMI	A	0.21%
	GE	D	0.2%
	ABT	B	0.2%
	F	C	0.2%
	URI	C	0.2%
	OKE	A	0.2%
	KR	B	0.2%
	AIG	B	0.2%
	MMM	D	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%
	CL	D	0.18%
	PM	B	0.18%
	PRU	A	0.18%
	FCX	F	0.18%
	BKR	A	0.18%
	VLO	C	0.17%
	TSCO	D	0.17%
	LEN	D	0.17%
	MU	D	0.17%
	FANG	C	0.17%
	NUE	C	0.16%
	DUK	C	0.16%
	DECK	A	0.16%
	APP	B	0.16%
	RTX	D	0.16%
	OXY	D	0.15%
	HON	C	0.15%
	SYF	B	0.15%
	FITB	B	0.14%
	DOW	F	0.14%
	AEP	C	0.14%
	DVN	F	0.14%
	TT	A	0.14%
	MLM	C	0.14%
	KMB	C	0.14%
	EME	A	0.14%
	CTSH	B	0.13%
	SO	C	0.13%
	IP	A	0.13%
	VRT	B	0.13%
	CCL	A	0.13%
	HAL	C	0.13%
	BKNG	A	0.13%
	VST	A	0.13%
	CSL	C	0.13%
	TPL	A	0.13%
	PCG	A	0.13%
	GEV	B	0.13%
	BBY	D	0.12%
	CDNS	B	0.12%
	ETR	B	0.12%
	SFM	A	0.12%
	FCNCA	A	0.12%
	PHM	D	0.12%
	DHI	F	0.12%
	CPNG	D	0.12%
	STLD	B	0.12%
	PKG	A	0.12%
	ON	D	0.12%
	HBAN	A	0.11%
	OC	A	0.11%
	ADM	D	0.11%
	MRO	B	0.11%
	XEL	A	0.11%
	CRWD	B	0.11%
	LYB	F	0.11%
	EQT	B	0.11%
	RJF	A	0.11%
	BURL	B	0.11%
	CEG	C	0.11%
	WSM	C	0.11%
	DRI	B	0.1%
	PEG	A	0.1%
	STT	B	0.1%
	FLEX	B	0.1%
	RPM	A	0.1%
	SW	A	0.1%
	LPLA	A	0.1%
	CTRA	B	0.1%
	UTHR	C	0.1%
	FIX	A	0.1%
	JBL	C	0.1%
	NVR	D	0.1%
	KMI	A	0.1%
	EXC	C	0.1%
	MSTR	B	0.09%
	MO	A	0.09%
	VTRS	A	0.09%
	LVS	B	0.09%
	CVNA	B	0.09%
	EXPD	C	0.09%
	EQH	C	0.09%
	MDLZ	F	0.09%
	SLB	C	0.09%
	GLW	B	0.09%
	PFG	D	0.09%
	COR	B	0.09%
	IT	C	0.09%
	PH	A	0.09%
	PWR	A	0.09%
	TXRH	B	0.09%
	CF	A	0.09%
	LII	A	0.09%
	CNC	D	0.08%
	OVV	B	0.08%
	EG	C	0.08%
	NXPI	D	0.08%
	JBHT	C	0.08%
	RGA	A	0.08%
	BG	D	0.08%
	GDDY	A	0.08%
	LUV	C	0.08%
	BJ	A	0.08%
	FICO	B	0.08%
	SNA	A	0.08%
	DKS	D	0.08%
	RF	A	0.08%
	AEE	A	0.08%
	CTVA	C	0.08%
	TPR	B	0.08%
	FNF	B	0.08%
	JEF	A	0.08%
	HPE	B	0.08%
	FTI	A	0.08%
	ED	C	0.08%
	CASY	A	0.08%
	NCLH	B	0.08%
	CFG	B	0.08%
	EWBC	A	0.08%
	DTE	C	0.07%
	L	A	0.07%
	SWKS	F	0.07%
	WCC	B	0.07%
	MOH	F	0.07%
	MCK	A	0.07%
	ORLY	B	0.07%
	SAIA	B	0.07%
	JXN	C	0.07%
	DLTR	F	0.07%
	MLI	B	0.07%
	SPOT	B	0.07%
	SYY	D	0.07%
	TOL	B	0.07%
	INGR	C	0.07%
	POOL	C	0.07%
	CI	D	0.07%
	PPL	A	0.07%
	RS	B	0.07%
	MUSA	B	0.07%
	NEE	C	0.07%
	BLDR	D	0.07%
	TDG	D	0.07%
	RNR	C	0.07%
	SRE	A	0.07%
	PRI	B	0.07%
	EXP	B	0.07%
	UNM	A	0.06%
	ALLY	C	0.06%
	PR	B	0.06%
	COKE	C	0.06%
	KVUE	A	0.06%
	WAL	B	0.06%
	UHS	D	0.06%
	CMA	B	0.06%
	LECO	C	0.06%
	IFF	D	0.06%
	ATI	C	0.06%
	GL	C	0.06%
	BA	F	0.06%
	WMS	F	0.06%
	CMS	C	0.06%
	CARR	C	0.06%
	MANH	D	0.06%
	GPC	D	0.06%
	GNRC	C	0.06%
	GPK	C	0.06%
	CLX	A	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	F	0.06%
	DASH	B	0.06%
	DD	C	0.06%
	LPX	B	0.06%
	NTAP	C	0.06%
	CBRE	B	0.06%
	BALL	F	0.06%
	AES	F	0.06%
	VMI	B	0.05%
	ORI	A	0.05%
	ENSG	C	0.05%
	AZO	C	0.05%
	CROX	D	0.05%
	NOC	D	0.05%
	MSCI	C	0.05%
	CVS	D	0.05%
	TAP	C	0.05%
	TSN	B	0.05%
	WFRD	D	0.05%
	MOS	F	0.05%
	SKX	D	0.05%
	JLL	D	0.05%
	KHC	F	0.05%
	RHI	C	0.05%
	PNW	A	0.05%
	WBS	A	0.05%
	ARW	D	0.05%
	CBT	D	0.05%
	WTFC	A	0.05%
	ATO	A	0.05%
	MTDR	B	0.05%
	AAON	B	0.05%
	MCHP	F	0.05%
	D	C	0.05%
	GD	D	0.05%
	TER	F	0.05%
	HPQ	B	0.05%
	CDW	F	0.05%
	KMX	B	0.05%
	BWA	D	0.05%
	ALV	C	0.05%
	PPG	F	0.05%
	DDOG	A	0.05%
	EVRG	A	0.05%
	TXT	D	0.05%
	CHRD	D	0.05%
	AIZ	A	0.05%
	UFPI	C	0.05%
	ZION	B	0.05%
	MAR	A	0.05%
	LNTH	D	0.05%
	AIT	B	0.05%
	FYBR	C	0.05%
	HWM	A	0.05%
	AXS	A	0.05%
	WSO	A	0.05%
	FND	D	0.05%
	CRBG	B	0.05%
	TEAM	A	0.05%
	NRG	B	0.05%
	R	B	0.05%
	HCA	F	0.05%
	HOOD	B	0.05%
	KNSL	B	0.05%
	DELL	B	0.05%
	EMR	B	0.05%
	KEY	B	0.05%
	RL	C	0.05%
	ATR	B	0.05%
	AGCO	D	0.04%
	RSG	A	0.04%
	EVR	B	0.04%
	DTM	A	0.04%
	AWI	A	0.04%
	SSD	F	0.04%
	TWLO	A	0.04%
	LNT	A	0.04%
	STE	D	0.04%
	KNX	C	0.04%
	FMC	D	0.04%
	SNX	D	0.04%
	KEX	B	0.04%
	HUBB	B	0.04%
	NSIT	F	0.04%
	PSTG	D	0.04%
	JCI	B	0.04%
	XPO	B	0.04%
	DINO	D	0.04%
	FN	C	0.04%
	CMC	B	0.04%
	CPAY	A	0.04%
	NET	B	0.04%
	CRUS	D	0.04%
	APTV	F	0.04%
	MTG	C	0.04%
	OGE	A	0.04%
	WCN	A	0.04%
	OTIS	C	0.04%
	HII	F	0.04%
	TREX	C	0.04%
	ITT	A	0.04%
	KBH	D	0.04%
	KD	B	0.04%
	WEC	A	0.04%
	AXTA	B	0.04%
	SOFI	B	0.04%
	RRC	B	0.04%
	CLH	C	0.04%
	BR	A	0.04%
	JKHY	D	0.04%
	JAZZ	B	0.04%
	CRS	B	0.04%
	FHN	A	0.04%
	WAB	B	0.04%
	GAP	C	0.04%
	LSTR	D	0.04%
	SF	B	0.04%
	CBSH	B	0.04%
	AYI	B	0.04%
	CHX	C	0.04%
	CFR	B	0.04%
	OMF	A	0.04%
	EXPE	B	0.04%
	EMN	C	0.04%
	MHK	D	0.04%
	DOX	D	0.03%
	MEDP	D	0.03%
	LDOS	C	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%
	CHRW	B	0.03%
	BCC	B	0.03%
	BLD	D	0.03%
	G	B	0.03%
	GMED	A	0.03%
	TKR	D	0.03%
	DY	D	0.03%
	FAF	A	0.03%
	ENLC	A	0.03%
	UHAL	D	0.03%
	RLI	A	0.03%
	GME	C	0.03%
	NWSA	A	0.03%
	X	B	0.03%
	AFRM	A	0.03%
	HALO	F	0.03%
	OLN	F	0.03%
	PEGA	B	0.03%
	NYT	D	0.03%
	ZS	B	0.03%
	ZBRA	B	0.03%
	MTZ	B	0.03%
	HLNE	B	0.03%
	WWD	C	0.03%
	EXPO	D	0.03%
	NU	C	0.03%
	VOYA	B	0.03%
	STX	C	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%
	GNTX	C	0.03%
	EHC	B	0.03%
	RGLD	C	0.03%
	EXEL	B	0.03%
	GEHC	D	0.03%
	ESNT	F	0.03%
	MAT	D	0.03%
	AA	A	0.03%
	GIS	D	0.03%
	DOV	A	0.03%
	PTC	B	0.03%
	K	A	0.03%
	ALK	B	0.03%
	CW	C	0.03%
	SSB	B	0.03%
	CAH	B	0.03%
	BPOP	C	0.03%
	VFC	C	0.03%
	TTC	C	0.03%
	TDY	B	0.03%
	CIEN	C	0.03%
	WBD	B	0.03%
	CIVI	D	0.03%
	APA	D	0.03%
	AR	B	0.03%
	PNFP	B	0.03%
	LEA	F	0.03%
	CLF	F	0.03%
	CVLT	B	0.03%
	AVY	F	0.03%
	HRB	D	0.03%
	SNV	C	0.03%
	ONB	C	0.03%
	PCTY	C	0.02%
	EXLS	B	0.02%
	LNW	F	0.02%
	ROIV	C	0.02%
	MSA	F	0.02%
	BC	C	0.02%
	INSM	C	0.02%
	FRPT	A	0.02%
	MAS	D	0.02%
	RBC	A	0.02%
	PPC	C	0.02%
	OMC	C	0.02%
	SWK	D	0.02%
	CHH	A	0.02%
	QRVO	F	0.02%
	HRL	D	0.02%
	ARMK	B	0.02%
	FCN	F	0.02%
	AZN	F	0.02%
	MDU	D	0.02%
	NVT	B	0.02%
	HOMB	A	0.02%
	ALSN	B	0.02%
	OZK	B	0.02%
	FSS	B	0.02%
	ROKU	D	0.02%
	OLED	F	0.02%
	ONTO	F	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	A	0.02%
	ARES	A	0.02%
	FLR	B	0.02%
	GLOB	B	0.02%
	JHG	B	0.02%
	FE	C	0.02%
	OLLI	D	0.02%
	Z	A	0.02%
	LYV	A	0.02%
	MMSI	A	0.02%
	AMCR	C	0.02%
	MOG.A	B	0.02%
	CHE	D	0.02%
	FLS	B	0.02%
	DOCS	C	0.02%
	TOST	B	0.02%
	LFUS	D	0.02%
	SWX	B	0.02%
	ES	C	0.02%
	CCK	D	0.02%
	FBIN	D	0.02%
	LW	C	0.02%
	MTH	D	0.02%
	SN	D	0.02%
	DT	D	0.02%
	CNP	A	0.02%
	COOP	B	0.02%
	CG	B	0.02%
	ENTG	D	0.02%
	OSK	C	0.02%
	CSWI	B	0.02%
	M	F	0.02%
	HESM	B	0.02%
	MGY	A	0.02%
	PCVX	D	0.02%
	NTRA	A	0.02%
	QLYS	B	0.02%
	IVZ	B	0.02%
	SON	F	0.02%
	THC	D	0.02%
	TMHC	C	0.02%
	AMKR	D	0.02%
	RVMD	C	0.02%
	MASI	B	0.02%
	CHDN	B	0.02%
	LBRDK	C	0.02%
	CADE	B	0.02%
	TPX	B	0.02%
	WLK	D	0.02%
	NTNX	B	0.02%
	NI	A	0.02%
	PB	B	0.02%
	SATS	D	0.02%
	GFS	C	0.01%
	LYFT	C	0.01%
	HEI	A	0.01%
	SEE	C	0.01%
	RMBS	B	0.01%
	ELF	C	0.01%
	FLUT	A	0.01%
	H	B	0.01%
	PAG	B	0.01%
	NEU	D	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	C	0.01%
	CFLT	B	0.01%
	TNET	F	0.01%
	CYTK	F	0.01%
	CHWY	B	0.01%
	LCID	F	0.01%
	AAL	B	0.01%
	GTLS	A	0.01%
	U	C	0.01%
	CWEN	C	0.01%
	TDW	F	0.01%
	RGEN	D	0.01%
	LEN	D	0.01%
	VAL	F	0.01%
	NOVT	D	0.01%
	VERX	A	0.01%
	SUM	B	0.01%
	ALTR	B	0.01%
	WYNN	C	0.01%
	CACC	D	0.01%
	PEN	B	0.01%
	WTRG	B	0.01%
	CAG	F	0.01%
	CPB	D	0.01%
	DKNG	B	0.01%
	NDSN	B	0.01%
	GXO	B	0.01%
	HQY	A	0.01%
	NXST	C	0.01%
	PATH	C	0.01%
	AVAV	C	0.01%
	NWS	A	0.01%
	HXL	F	0.01%
	ESAB	C	0.01%
	DDS	B	0.01%
	BRBR	A	0.01%
	PCOR	B	0.01%
	NPAB	F	0.01%
	ACHC	F	0.01%
	PSN	D	0.01%
	IPG	D	0.01%
	DLB	B	0.01%
	FOUR	A	0.01%
	MORN	B	0.01%
	HEI	A	0.01%
	GTLB	B	0.01%
	HSIC	C	0.01%
	BROS	A	0.01%
	MTN	C	0.01%
	SOLV	D	0.01%
	MKSI	C	0.01%
	KRYS	C	0.01%
	AGR	A	0.01%
	BILL	A	0.01%
	CWAN	B	0.01%
	RRR	F	0.01%
	LSCC	D	0.01%
	ESTC	C	0.01%
	UI	B	0.01%
	CWST	A	0.01%
	SSNC	B	0.01%
	DBX	B	0.01%
	VRNS	D	0.01%
	LKQ	F	0.01%
	DUOL	A	0.01%
	ATKR	D	0.01%
	BSY	F	0.01%
	BECN	B	0.01%
	VNT	C	0.01%
	CACI	D	0.01%
	USFD	A	0.01%
	APPF	B	0.01%
	PARA	C	0.01%
	MARA	B	0.01%
	BOKF	B	0.01%
	OGN	F	0.01%
	SJM	D	0.01%
	GPN	B	0.01%
	J	D	0.01%
	RYAN	A	0.01%
	SRPT	F	0.01%
	RBLX	C	0.01%
	BERY	C	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	D	0.01%
	MGM	D	0.01%
	BEN	C	0.01%
	AZEK	A	0.01%
	MIDD	C	0.01%
	BCPC	B	0.01%
	NFG	A	0.01%
	LUMN	C	0.01%
	AN	C	0.01%
	BYD	B	0.01%
	VVV	D	0.01%
	SPSC	D	0.01%
	WTS	B	0.01%
	SMAR	B	0.01%
	TTEK	F	0.01%
	PLNT	A	0.01%
	ZWS	B	0.01%
	LNC	C	0.01%
	MDGL	B	0.01%
	WSC	F	0.01%
	GKOS	B	0.01%
	PFSI	C	0.01%
	SITE	F	0.01%
	WING	D	0.01%
	DVA	C	0.01%
	IOT	A	0.01%
	VKTX	F	0.01%
	AL	B	0.01%
	PBF	D	0.01%
	THO	B	0.01%
	ELAN	D	0.01%
	FIVE	F	0.01%
	SM	B	0.01%
	CR	A	0.01%
	WH	B	0.01%
	ALB	B	0.01%
	LANC	C	0.01%
	ITCI	C	0.01%
	AUR	C	0.01%
	CELH	F	0.01%
	S	B	0.01%
	DPZ	C	0.01%
	CGNX	D	0.01%
	NVST	B	0.0%
	TPG	A	0.0%
	CRSP	D	0.0%
	WOLF	F	0.0%
	WHR	B	0.0%
	RARE	F	0.0%
	AGL	F	0.0%
	EMBC	C	0.0%
	KLG	B	0.0%
	HIMS	B	0.0%
	SEDG	F	0.0%
	COTY	F	0.0%
	FG	A	0.0%
	CNXC	F	0.0%
	FFIN	B	0.0%
	IMVT	F	0.0%
	DXC	B	0.0%
	RNA	C	0.0%
	SPB	C	0.0%
	TXG	F	0.0%
	SIRI	C	0.0%
	WBA	F	0.0%
	SAM	C	0.0%
	UGI	C	0.0%
	BRZE	C	0.0%
	CRVL	B	0.0%
	BBIO	F	0.0%
	GBCI	B	0.0%
	UHAL	D	0.0%
	AGO	B	0.0%
	APLS	F	0.0%
	IPGP	D	0.0%
	INFA	D	0.0%
	FNB	A	0.0%
	PLUG	F	0.0%
	ZI	D	0.0%
	ALKS	C	0.0%
	FIZZ	C	0.0%
	CWEN	C	0.0%
	TDC	D	0.0%
	RDN	D	0.0%
	HCP	B	0.0%
	CAR	C	0.0%
	EEFT	B	0.0%
	HRI	C	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	D	0.0%
	NFE	D	0.0%
	BIRK	D	0.0%
	OWL	A	0.0%
	INSP	D	0.0%
	ESI	B	0.0%
	CRDO	B	0.0%
	CZR	F	0.0%
	MMS	F	0.0%
	AMG	B	0.0%
	COLB	B	0.0%
	POST	C	0.0%
	ACT	C	0.0%
	ETSY	D	0.0%
	BFAM	D	0.0%
	XRAY	F	0.0%
	REYN	D	0.0%
	CNA	C	0.0%
	NUVL	C	0.0%
	DAY	B	0.0%
	RDDT	A	0.0%
	TMDX	F	0.0%
	SAIC	F	0.0%
	ALGM	D	0.0%
	ZETA	D	0.0%
	RBRK	A	0.0%
	RH	C	0.0%
	SLGN	A	0.0%
	TKO	A	0.0%
	APG	B	0.0%
	BPMC	B	0.0%

AVLC Underweight 19 Positions Relative to NZUS

	Symbol	Grade	Weight
	DLR	B	-1.76%
	EQIX	A	-0.9%
	PLD	F	-0.75%
	AVB	B	-0.46%
	ESS	B	-0.45%
	BXP	C	-0.45%
	DOC	C	-0.44%
	ARE	F	-0.44%
	AMT	C	-0.25%
	VICI	C	-0.25%
	PSA	C	-0.22%
	WELL	A	-0.21%
	O	C	-0.19%
	SPG	A	-0.16%
	EQR	C	-0.1%
	KIM	A	-0.09%
	VTR	B	-0.08%
	EXR	C	-0.06%
	WPC	C	-0.01%

AVLC: Top Represented Industries & Keywords

Industries: Software - Application Biotechnology Banks - Regional - US Diversified Industrials Business Services Software - Infrastructure Asset Management Oil & Gas E&P Semiconductors Utilities - Regulated Electric Specialty Retail Diagnostics & Research Capital Markets Packaged Foods Information Technology Services Specialty Chemicals Aerospace & Defense Building Materials Insurance - Property & Casualty Medical Instruments & Supplies

Keywords: S&P 500 Nasdaq 100 Computing Natural Gas Insurance Banking Electronics Bank Chemical Aerospace Medicine Electricity Mining Telecommunications Semiconductor Dow Jones Component IBD 50 Insurance Products Biotechnology Building Materials

NZUS: Top Represented Industries & Keywords

Industries: Software - Application Diagnostics & Research Diversified Industrials Asset Management Biotechnology Business Services Drug Manufacturers - Major Semiconductors Insurance - Property & Casualty Internet Content & Information Medical Devices Medical Instruments & Supplies Capital Markets Insurance Brokers Credit Services Financial Data & Stock Exchanges Restaurants Scientific & Technical Instruments Software - Infrastructure Specialty Retail

Keywords: S&P 500 Nasdaq 100 Computing Insurance Dow Jones Component Medicine Real Estate Investment Trust Mobile Devices Telecommunications Biotechnology Work From Home Insurance Products Software Software As A Service Bank Banking Cloud Computing Disability Casualty Insurance Chemical