BBMC vs. QVMM ETF Comparison

Comparison of JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (BBMC) to Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM)

BBMC

JPMorgan BetaBuilders U.S. Mid Cap Equity ETF

BBMC Description

The investment seeks investment results that closely correspond, before fees and expenses, to the performance of the Morningstar® US Mid Cap Target Market Exposure Extended IndexSM. The fund will invest at least 80% of its assets in securities included in the underlying index. The underlying index consists of equity securities primarily traded in the United States and targets those securities that fall between the 85th and 95th percentiles in market capitalization of the free float adjusted investable universe.

Grade (RS Rating)

Last Trade

$100.10

Average Daily Volume

37,113

Number of Holdings ^*

572

* may have additional holdings in another (foreign) market

QVMM

Invesco S&P MidCap 400 QVM Multi-factor ETF

QVMM Description

The investment seeks to track the investment results of the S&P MidCap 400 ® Quality, Value & Momentum Top 90% Multi- Factor Index (the “underlying index”). The fund will invest at least 90% of its total assets in the securities that comprise the index. S&P Dow Jones Indices LLC compiles, maintains and calculates the index, which is designed to track the performance of a subset of securities from the S&P MidCap 400 ® Index that exhibit the investment style criteria of quality, value and momentum. The index is composed of securities with multi-factor scores representing the top 90% of the parent index, as determined by the index provider. It is non-diversified.

Grade (RS Rating)

Last Trade

$29.78

Average Daily Volume

1,047

Number of Holdings ^*

352

* may have additional holdings in another (foreign) market

Performance

Period	BBMC	QVMM
30 Days	3.22%	0.78%
60 Days	6.60%	3.83%
90 Days	9.47%	5.94%
12 Months	29.96%	27.76%

316 Overlapping Holdings

	Symbol	Grade	Weight in BBMC	Weight in QVMM	Overlap
	AA	A	0.25%	0.38%	0.25%
	AAON	B	0.23%	0.33%	0.23%
	ACHC	F	0.09%	0.14%	0.09%
	ACM	B	0.37%	0.54%	0.37%
	ADC	A	0.18%	0.26%	0.18%
	AGCO	F	0.14%	0.2%	0.14%
	AIT	B	0.26%	0.38%	0.26%
	ALE	A	0.09%	0.13%	0.09%
	ALLY	C	0.24%	0.46%	0.24%
	ALTR	B	0.15%	0.22%	0.15%
	ALV	C	0.17%	0.27%	0.17%
	AM	A	0.13%	0.19%	0.13%
	AMG	C	0.15%	0.22%	0.15%
	AMH	C	0.29%	0.42%	0.29%
	AMKR	F	0.08%	0.1%	0.08%
	AN	D	0.11%	0.16%	0.11%
	ANF	C	0.17%	0.29%	0.17%
	AR	B	0.22%	0.32%	0.22%
	ARMK	C	0.24%	0.34%	0.24%
	ARW	F	0.15%	0.23%	0.15%
	ASGN	F	0.11%	0.16%	0.11%
	ASH	F	0.09%	0.15%	0.09%
	ATR	B	0.28%	0.42%	0.28%
	AVNT	B	0.11%	0.18%	0.11%
	AVT	C	0.12%	0.18%	0.12%
	AXTA	B	0.2%	0.33%	0.2%
	AYI	B	0.25%	0.36%	0.25%
	AZTA	F	0.05%	0.09%	0.05%
	BC	D	0.13%	0.2%	0.13%
	BDC	B	0.12%	0.19%	0.12%
	BERY	D	0.19%	0.28%	0.19%
	BHF	C	0.08%	0.12%	0.08%
	BJ	B	0.27%	0.42%	0.27%
	BKH	A	0.1%	0.15%	0.1%
	BLD	F	0.28%	0.44%	0.28%
	BRBR	A	0.23%	0.32%	0.23%
	BRKR	F	0.13%	0.2%	0.13%
	BRX	A	0.21%	0.3%	0.21%
	BWXT	A	0.29%	0.44%	0.29%
	BYD	B	0.12%	0.18%	0.12%
	CACI	C	0.31%	0.4%	0.31%
	CADE	B	0.17%	0.26%	0.17%
	CASY	A	0.38%	0.52%	0.38%
	CBSH	A	0.23%	0.31%	0.23%
	CBT	C	0.15%	0.22%	0.15%
	CELH	F	0.11%	0.16%	0.11%
	CFR	B	0.21%	0.33%	0.21%
	CGNX	D	0.17%	0.26%	0.17%
	CHDN	C	0.24%	0.33%	0.24%
	CHE	F	0.21%	0.31%	0.21%
	CHRD	F	0.19%	0.32%	0.19%
	CHX	C	0.15%	0.23%	0.15%
	CIEN	B	0.25%	0.38%	0.25%
	CIVI	D	0.09%	0.19%	0.09%
	CLF	F	0.14%	0.22%	0.14%
	CLH	C	0.33%	0.46%	0.33%
	CMC	B	0.17%	0.27%	0.17%
	CNM	C	0.19%	0.31%	0.19%
	CNXC	F	0.04%	0.07%	0.04%
	COHR	B	0.38%	0.49%	0.38%
	COKE	C	0.16%	0.21%	0.16%
	COLB	B	0.16%	0.24%	0.16%
	COLM	B	0.07%	0.1%	0.07%
	COTY	F	0.07%	0.1%	0.07%
	CPRI	F	0.06%	0.07%	0.06%
	CR	A	0.21%	0.32%	0.21%
	CROX	F	0.15%	0.24%	0.15%
	CRUS	F	0.14%	0.2%	0.14%
	CSL	C	0.52%	0.8%	0.52%
	CUBE	C	0.26%	0.37%	0.26%
	CUZ	B	0.11%	0.16%	0.11%
	CW	B	0.36%	0.51%	0.36%
	DAR	B	0.17%	0.28%	0.17%
	DCI	B	0.23%	0.34%	0.23%
	DINO	D	0.17%	0.25%	0.17%
	DKS	D	0.28%	0.47%	0.28%
	DLB	F	0.11%	0.16%	0.11%
	DOCS	C	0.18%	0.23%	0.18%
	DTM	A	0.24%	0.36%	0.24%
	DUOL	A	0.28%	0.4%	0.28%
	EEFT	C	0.11%	0.17%	0.11%
	EGP	D	0.21%	0.29%	0.21%
	EHC	B	0.25%	0.36%	0.25%
	EME	A	0.6%	0.84%	0.6%
	ENOV	C	0.06%	0.09%	0.06%
	ENS	D	0.1%	0.15%	0.1%
	EPR	D	0.08%	0.12%	0.08%
	ESAB	C	0.18%	0.27%	0.18%
	ESNT	D	0.15%	0.22%	0.15%
	EVR	B	0.27%	0.39%	0.27%
	EXEL	B	0.26%	0.35%	0.26%
	EXLS	B	0.19%	0.26%	0.19%
	EXP	B	0.26%	0.38%	0.26%
	EXPO	D	0.13%	0.18%	0.13%
	FAF	C	0.16%	0.23%	0.16%
	FBIN	F	0.24%	0.33%	0.24%
	FCN	F	0.18%	0.25%	0.18%
	FFIN	B	0.15%	0.19%	0.15%
	FHI	B	0.09%	0.12%	0.09%
	FHN	A	0.26%	0.42%	0.26%
	FIX	A	0.41%	0.59%	0.41%
	FLO	D	0.11%	0.15%	0.11%
	FLR	B	0.2%	0.34%	0.2%
	FLS	A	0.19%	0.3%	0.19%
	FNB	B	0.15%	0.23%	0.15%
	FND	F	0.27%	0.41%	0.27%
	FR	C	0.16%	0.25%	0.16%
	FYBR	C	0.15%	0.22%	0.15%
	G	B	0.18%	0.27%	0.18%
	GAP	D	0.12%	0.19%	0.12%
	GATX	B	0.13%	0.2%	0.13%
	GBCI	B	0.16%	0.25%	0.16%
	GEF	B	0.04%	0.06%	0.04%
	GGG	B	0.37%	0.54%	0.37%
	GLPI	C	0.32%	0.47%	0.32%
	GME	C	0.26%	0.29%	0.26%
	GMED	A	0.23%	0.34%	0.23%
	GNTX	F	0.17%	0.26%	0.17%
	GPK	D	0.22%	0.32%	0.22%
	GT	C	0.07%	0.11%	0.07%
	GXO	B	0.18%	0.26%	0.18%
	H	B	0.17%	0.26%	0.17%
	HAE	C	0.12%	0.17%	0.12%
	HALO	F	0.19%	0.26%	0.19%
	HGV	C	0.08%	0.11%	0.08%
	HLI	B	0.24%	0.35%	0.24%
	HOG	F	0.11%	0.15%	0.11%
	HOMB	A	0.15%	0.21%	0.15%
	HQY	A	0.21%	0.31%	0.21%
	HRB	D	0.21%	0.29%	0.21%
	HWC	B	0.13%	0.2%	0.13%
	HXL	F	0.13%	0.18%	0.13%
	IBKR	A	0.47%	0.71%	0.47%
	IDA	A	0.15%	0.2%	0.15%
	INGR	B	0.24%	0.34%	0.24%
	IPGP	D	0.06%	0.08%	0.06%
	IRT	A	0.11%	0.17%	0.11%
	ITT	A	0.31%	0.47%	0.31%
	JAZZ	C	0.2%	0.3%	0.2%
	JEF	A	0.3%	0.47%	0.3%
	JHG	B	0.14%	0.22%	0.14%
	JLL	D	0.31%	0.44%	0.31%
	KBH	D	0.13%	0.21%	0.13%
	KBR	F	0.24%	0.32%	0.24%
	KD	A	0.16%	0.24%	0.16%
	KEX	B	0.19%	0.28%	0.19%
	KMPR	A	0.1%	0.16%	0.1%
	KNSL	B	0.26%	0.4%	0.26%
	KNX	B	0.21%	0.33%	0.21%
	KRC	C	0.11%	0.15%	0.11%
	KRG	A	0.15%	0.21%	0.15%
	LAD	B	0.25%	0.41%	0.25%
	LAMR	D	0.28%	0.4%	0.28%
	LANC	D	0.1%	0.13%	0.1%
	LEA	F	0.14%	0.22%	0.14%
	LECO	C	0.3%	0.46%	0.3%
	LFUS	D	0.15%	0.24%	0.15%
	LNTH	F	0.14%	0.2%	0.14%
	LNW	F	0.23%	0.29%	0.23%
	LOPE	B	0.12%	0.18%	0.12%
	LPX	B	0.18%	0.26%	0.18%
	LSCC	D	0.18%	0.26%	0.18%
	LSTR	D	0.17%	0.24%	0.17%
	M	D	0.1%	0.16%	0.1%
	MAN	F	0.07%	0.11%	0.07%
	MANH	D	0.43%	0.6%	0.43%
	MASI	B	0.18%	0.26%	0.18%
	MAT	D	0.16%	0.24%	0.16%
	MEDP	D	0.22%	0.29%	0.22%
	MIDD	D	0.18%	0.28%	0.18%
	MMS	D	0.14%	0.19%	0.14%
	MORN	B	0.23%	0.32%	0.23%
	MSA	D	0.16%	0.24%	0.16%
	MSM	D	0.1%	0.15%	0.1%
	MTDR	C	0.17%	0.27%	0.17%
	MTG	D	0.16%	0.24%	0.16%
	MTSI	B	0.19%	0.26%	0.19%
	MTZ	A	0.21%	0.31%	0.21%
	MUR	F	0.12%	0.19%	0.12%
	MUSA	B	0.26%	0.35%	0.26%
	NEOG	D	0.08%	0.11%	0.08%
	NEU	D	0.1%	0.14%	0.1%
	NFG	A	0.14%	0.19%	0.14%
	NJR	A	0.12%	0.16%	0.12%
	NNN	C	0.19%	0.26%	0.19%
	NOV	D	0.16%	0.25%	0.16%
	NOVT	D	0.15%	0.23%	0.15%
	NSA	C	0.07%	0.1%	0.07%
	NSP	F	0.07%	0.1%	0.07%
	NVST	C	0.09%	0.13%	0.09%
	NVT	C	0.31%	0.46%	0.31%
	NWE	C	0.08%	0.12%	0.08%
	NXST	C	0.13%	0.19%	0.13%
	NYT	D	0.21%	0.33%	0.21%
	OGE	A	0.21%	0.29%	0.21%
	OGS	A	0.1%	0.14%	0.1%
	OHI	B	0.25%	0.34%	0.25%
	OLED	F	0.2%	0.24%	0.2%
	OLLI	D	0.14%	0.18%	0.14%
	OLN	F	0.13%	0.19%	0.13%
	ONB	B	0.18%	0.26%	0.18%
	ONTO	F	0.21%	0.31%	0.21%
	OPCH	F	0.1%	0.13%	0.1%
	ORA	B	0.1%	0.15%	0.1%
	ORI	A	0.23%	0.35%	0.23%
	OSK	C	0.18%	0.28%	0.18%
	OVV	C	0.27%	0.44%	0.27%
	OZK	B	0.13%	0.19%	0.13%
	PAG	B	0.08%	0.13%	0.08%
	PB	A	0.19%	0.28%	0.19%
	PBF	D	0.08%	0.13%	0.08%
	PCH	D	0.08%	0.12%	0.08%
	PCTY	B	0.23%	0.32%	0.23%
	PFGC	B	0.33%	0.49%	0.33%
	PII	F	0.09%	0.14%	0.09%
	PNFP	B	0.24%	0.37%	0.24%
	PNM	B	0.1%	0.15%	0.1%
	POR	C	0.12%	0.17%	0.12%
	POST	C	0.15%	0.19%	0.15%
	PPC	B	0.05%	0.08%	0.05%
	PR	B	0.23%	0.3%	0.23%
	PRGO	C	0.09%	0.14%	0.09%
	PRI	A	0.26%	0.38%	0.26%
	PSTG	F	0.38%	0.58%	0.38%
	PVH	C	0.14%	0.22%	0.14%
	QLYS	C	0.14%	0.2%	0.14%
	R	B	0.18%	0.28%	0.18%
	RBC	A	0.22%	0.33%	0.22%
	RCM	A	0.05%	0.1%	0.05%
	REXR	F	0.21%	0.32%	0.21%
	RGEN	F	0.19%	0.27%	0.19%
	RGLD	C	0.23%	0.33%	0.23%
	RLI	A	0.18%	0.25%	0.18%
	RMBS	C	0.15%	0.22%	0.15%
	RNR	C	0.33%	0.48%	0.33%
	ROIV	D	0.12%	0.14%	0.12%
	RPM	B	0.43%	0.61%	0.43%
	RRC	B	0.2%	0.29%	0.2%
	RRX	B	0.28%	0.46%	0.28%
	RS	B	0.44%	0.66%	0.44%
	RYAN	B	0.17%	0.26%	0.17%
	RYN	D	0.1%	0.14%	0.1%
	SAIA	C	0.36%	0.45%	0.36%
	SAIC	F	0.19%	0.22%	0.19%
	SAM	C	0.07%	0.1%	0.07%
	SCI	A	0.31%	0.43%	0.31%
	SEIC	B	0.22%	0.29%	0.22%
	SF	B	0.29%	0.44%	0.29%
	SFM	A	0.36%	0.52%	0.36%
	SIGI	B	0.15%	0.22%	0.15%
	SKX	F	0.2%	0.3%	0.2%
	SLAB	F	0.08%	0.13%	0.08%
	SLGN	A	0.11%	0.16%	0.11%
	SLM	B	0.13%	0.2%	0.13%
	SNV	B	0.21%	0.31%	0.21%
	SNX	D	0.14%	0.35%	0.14%
	SON	F	0.12%	0.18%	0.12%
	SR	A	0.09%	0.14%	0.09%
	SSB	B	0.2%	0.3%	0.2%
	SSD	D	0.19%	0.29%	0.19%
	ST	F	0.12%	0.19%	0.12%
	STAG	D	0.16%	0.24%	0.16%
	STWD	C	0.15%	0.22%	0.15%
	SWX	A	0.11%	0.17%	0.11%
	SYNA	D	0.07%	0.12%	0.07%
	TEX	D	0.09%	0.14%	0.09%
	THC	C	0.39%	0.59%	0.39%
	THG	A	0.14%	0.21%	0.14%
	THO	C	0.14%	0.23%	0.14%
	TKR	F	0.12%	0.18%	0.12%
	TMHC	B	0.17%	0.27%	0.17%
	TNL	B	0.09%	0.14%	0.09%
	TOL	B	0.38%	0.59%	0.38%
	TPX	B	0.23%	0.36%	0.23%
	TREX	D	0.19%	0.27%	0.19%
	TTC	F	0.21%	0.34%	0.21%
	TTEK	F	0.31%	0.39%	0.31%
	TXRH	B	0.32%	0.49%	0.32%
	UAA	C	0.04%	0.15%	0.04%
	UBSI	B	0.14%	0.21%	0.14%
	UFPI	C	0.2%	0.31%	0.2%
	UGI	C	0.12%	0.18%	0.12%
	UMBF	B	0.14%	0.19%	0.14%
	UNM	A	0.31%	0.47%	0.31%
	USFD	A	0.38%	0.54%	0.38%
	UTHR	C	0.38%	0.64%	0.38%
	VAC	C	0.07%	0.12%	0.07%
	VAL	F	0.08%	0.12%	0.08%
	VC	F	0.06%	0.1%	0.06%
	VLY	B	0.11%	0.16%	0.11%
	VMI	B	0.17%	0.26%	0.17%
	VNT	C	0.15%	0.24%	0.15%
	VOYA	B	0.21%	0.27%	0.21%
	VVV	D	0.13%	0.21%	0.13%
	WBS	A	0.25%	0.39%	0.25%
	WCC	B	0.22%	0.34%	0.22%
	WEN	C	0.07%	0.11%	0.07%
	WEX	F	0.19%	0.26%	0.19%
	WFRD	F	0.16%	0.25%	0.16%
	WH	B	0.19%	0.28%	0.19%
	WHR	B	0.15%	0.23%	0.15%
	WING	D	0.24%	0.34%	0.24%
	WMG	C	0.11%	0.17%	0.11%
	WMS	F	0.23%	0.34%	0.23%
	WSM	D	0.39%	0.59%	0.39%
	WTFC	B	0.21%	0.32%	0.21%
	WTRG	B	0.24%	0.34%	0.24%
	WTS	B	0.14%	0.21%	0.14%
	WU	F	0.09%	0.13%	0.09%
	WWD	B	0.24%	0.37%	0.24%
	X	C	0.22%	0.32%	0.22%
	XPO	B	0.43%	0.68%	0.43%
	XRAY	D	0.09%	0.13%	0.09%
	YETI	D	0.09%	0.12%	0.09%
	ZI	D	0.09%	0.11%	0.09%
	ZION	B	0.22%	0.34%	0.22%

BBMC Overweight 256 Positions Relative to QVMM

	Symbol	Grade	Weight
	MSTR	A	1.53%
	APP	A	1.47%
	CVNA	A	0.7%
	DKNG	B	0.49%
	NTNX	B	0.43%
	HOOD	A	0.42%
	NTRA	A	0.41%
	TOST	A	0.4%
	GWRE	A	0.4%
	TW	A	0.37%
	JBL	C	0.36%
	SOFI	A	0.35%
	AFRM	A	0.32%
	NDSN	D	0.32%
	CHRW	B	0.31%
	TPR	B	0.29%
	NCLH	B	0.29%
	OWL	A	0.28%
	GNRC	B	0.28%
	PCVX	D	0.27%
	AIZ	A	0.27%
	SRPT	F	0.26%
	ERIE	F	0.26%
	LBRDK	C	0.26%
	CTLT	D	0.26%
	WAL	B	0.25%
	GL	C	0.25%
	IOT	A	0.25%
	MLI	B	0.25%
	MKTX	D	0.25%
	PNW	B	0.25%
	ALSN	B	0.25%
	SOLV	F	0.24%
	ROKU	D	0.23%
	CMA	B	0.23%
	FN	B	0.23%
	FRT	B	0.23%
	PEN	B	0.22%
	AOS	F	0.22%
	RL	C	0.21%
	ENSG	D	0.21%
	AAL	B	0.21%
	HSIC	C	0.21%
	ITCI	B	0.21%
	BILL	B	0.21%
	BWA	D	0.2%
	RHI	C	0.2%
	CZR	F	0.2%
	MTCH	F	0.2%
	TKO	A	0.2%
	PLNT	A	0.2%
	RVMD	B	0.2%
	HAS	D	0.2%
	MHK	D	0.19%
	BIO	C	0.19%
	RIVN	F	0.19%
	JXN	C	0.19%
	ESTC	C	0.19%
	SMAR	A	0.19%
	DVA	C	0.19%
	WSC	F	0.18%
	AGNC	C	0.18%
	GTLS	A	0.18%
	ATI	C	0.18%
	S	B	0.18%
	SPSC	F	0.17%
	AWI	B	0.17%
	BPOP	C	0.17%
	AZEK	B	0.17%
	MTN	C	0.17%
	APG	C	0.17%
	ELAN	D	0.17%
	GTLB	B	0.17%
	ELF	C	0.17%
	FMC	D	0.17%
	FRPT	A	0.17%
	BBWI	C	0.17%
	ETSY	D	0.16%
	CFLT	B	0.16%
	LYFT	C	0.16%
	BFAM	F	0.16%
	ESI	B	0.16%
	PARA	D	0.16%
	UHAL	D	0.16%
	BECN	B	0.16%
	CYTK	D	0.16%
	MKSI	C	0.16%
	AXS	A	0.16%
	SITE	D	0.16%
	MTH	D	0.16%
	ALK	A	0.16%
	BMI	C	0.16%
	CWST	A	0.16%
	RHP	B	0.16%
	DBX	C	0.16%
	VFC	C	0.16%
	PATH	C	0.15%
	COLD	F	0.15%
	HRI	C	0.15%
	BPMC	C	0.15%
	MMSI	A	0.15%
	LNC	B	0.15%
	OMF	A	0.15%
	PCOR	C	0.15%
	COOP	B	0.15%
	VKTX	F	0.15%
	IONS	F	0.14%
	FSS	B	0.14%
	INSP	F	0.14%
	ZWS	B	0.14%
	BCPC	B	0.14%
	TRNO	D	0.14%
	LITE	B	0.14%
	EPRT	A	0.14%
	IVZ	C	0.14%
	SUM	B	0.14%
	FOUR	A	0.14%
	SEE	D	0.13%
	ABG	B	0.13%
	RDN	D	0.13%
	PSN	C	0.13%
	EDR	A	0.13%
	MDGL	C	0.13%
	SKY	A	0.13%
	GPI	B	0.13%
	MGY	A	0.12%
	WK	C	0.12%
	PECO	A	0.12%
	AGO	A	0.12%
	WTM	A	0.12%
	ALKS	C	0.12%
	IBP	F	0.12%
	BOX	B	0.12%
	SM	C	0.12%
	TENB	D	0.12%
	RH	D	0.12%
	ACA	A	0.12%
	AL	B	0.12%
	CRSP	D	0.11%
	SIG	C	0.11%
	FELE	B	0.11%
	SANM	B	0.11%
	NSIT	F	0.11%
	FIVE	F	0.11%
	RUSHA	B	0.1%
	GTES	A	0.1%
	AXSM	B	0.1%
	RARE	F	0.1%
	OGN	F	0.1%
	SEM	B	0.1%
	CHH	A	0.1%
	PBH	A	0.1%
	DXC	D	0.1%
	FUL	F	0.1%
	AEIS	B	0.1%
	CRC	A	0.09%
	CCOI	B	0.09%
	ATKR	D	0.09%
	ALIT	C	0.09%
	HP	C	0.09%
	SPR	D	0.09%
	APLE	B	0.09%
	NWL	B	0.09%
	POWI	D	0.09%
	BLKB	B	0.09%
	JBT	A	0.09%
	IAC	D	0.09%
	ASO	F	0.09%
	PEGA	B	0.09%
	ESGR	B	0.09%
	MSGS	B	0.09%
	TNET	F	0.08%
	BL	C	0.08%
	PTEN	C	0.08%
	SMG	C	0.08%
	AWR	A	0.08%
	INFA	D	0.08%
	BTU	C	0.08%
	HL	C	0.08%
	HUN	F	0.08%
	SMPL	B	0.08%
	OTTR	C	0.08%
	IRDM	F	0.08%
	SXT	C	0.08%
	ENV	B	0.08%
	RIG	D	0.08%
	DNB	B	0.08%
	CRVL	A	0.08%
	MDU	D	0.08%
	BOKF	B	0.07%
	ACLS	F	0.07%
	CNS	B	0.07%
	IRTC	C	0.07%
	DIOD	F	0.07%
	BE	A	0.07%
	FOLD	F	0.07%
	TDC	D	0.07%
	CC	D	0.07%
	FIVN	C	0.07%
	PENN	C	0.07%
	PFSI	C	0.07%
	CWT	C	0.07%
	AVA	C	0.07%
	DV	C	0.07%
	BXMT	C	0.07%
	SGRY	F	0.06%
	ADTN	A	0.06%
	IPAR	C	0.06%
	AAP	D	0.06%
	KWR	D	0.06%
	APLS	F	0.06%
	PINC	B	0.06%
	ALGM	F	0.06%
	ARWR	D	0.06%
	HHH	B	0.06%
	CACC	F	0.06%
	MPW	F	0.06%
	JJSF	C	0.06%
	ADNT	F	0.05%
	MP	C	0.05%
	FRHC	A	0.05%
	SHC	F	0.05%
	LCID	F	0.05%
	GOLF	B	0.05%
	HI	C	0.05%
	FLYW	B	0.05%
	ACAD	C	0.05%
	CWEN	C	0.05%
	LTH	C	0.04%
	PGNY	F	0.04%
	REYN	D	0.04%
	DDS	B	0.04%
	LBRDA	C	0.04%
	TXG	F	0.04%
	EVH	F	0.04%
	CAR	C	0.04%
	CLVT	D	0.04%
	IMVT	F	0.04%
	NFE	F	0.03%
	CRK	A	0.03%
	FIZZ	C	0.03%
	UA	C	0.03%
	DJT	C	0.03%
	WOR	F	0.03%
	MODG	F	0.03%
	PYCR	C	0.03%
	SEB	F	0.02%
	SEDG	F	0.02%
	TFSL	A	0.02%
	CWEN	C	0.02%
	WOLF	F	0.02%
	ACT	D	0.02%
	RUSHB	B	0.01%
	INST	B	0.01%
	UHAL	D	0.01%
	PLTK	B	0.01%

BBMC Underweight 36 Positions Relative to QVMM

	Symbol	Grade	Weight
	TPL	A	-0.99%
	LII	A	-0.73%
	OC	A	-0.63%
	BURL	A	-0.61%
	RBA	A	-0.61%
	WSO	A	-0.61%
	FNF	A	-0.57%
	RGA	B	-0.56%
	EQH	B	-0.56%
	EWBC	A	-0.55%
	AVTR	F	-0.49%
	BMRN	F	-0.47%
	NBIX	C	-0.46%
	WPC	C	-0.41%
	CCK	D	-0.38%
	AFG	A	-0.33%
	CVLT	B	-0.28%
	VNO	C	-0.23%
	CNX	A	-0.21%
	KNF	B	-0.19%
	APPF	C	-0.18%
	CNO	B	-0.16%
	WLK	F	-0.15%
	BCO	F	-0.15%
	ASB	B	-0.15%
	SBRA	B	-0.14%
	IBOC	B	-0.14%
	TCBI	B	-0.14%
	CDP	C	-0.12%
	PK	D	-0.12%
	GHC	B	-0.12%
	LIVN	D	-0.11%
	CXT	C	-0.1%
	VSH	F	-0.08%
	JWN	C	-0.08%
	CRI	F	-0.07%

BBMC: Top Represented Industries & Keywords

Industries: Banks - Regional - US Biotechnology Software - Application Diversified Industrials Software - Infrastructure Oil & Gas E&P Specialty Chemicals Specialty Retail Asset Management Building Materials Business Services Information Technology Services Packaged Foods Packaging & Containers Semiconductors Capital Markets Engineering & Construction Leisure REIT - Industrial Apparel Manufacturing

Keywords: Banking Natural Gas Mining Bank Insurance Chemical Real Estate Investment Trust Computing S&P 500 Electronics Aerospace Construction Medicine Semiconductor Transport Biopharmaceutical Biotechnology Electricity Plastic Supply Chain Management

QVMM: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Business Services Oil & Gas E&P Biotechnology Packaging & Containers Software - Application Specialty Chemicals Building Materials Engineering & Construction Asset Management Packaged Foods REIT - Diversified REIT - Industrial Semiconductors Apparel Manufacturing Insurance - Property & Casualty Medical Care REIT - Retail Scientific & Technical Instruments

Keywords: Bank Banking Mining Natural Gas Chemical Insurance Real Estate Investment Trust Electronics Aerospace Semiconductor Construction Beverage Deposit Products Supply Chain Management Commercial Banking Building Materials Computing Insurance Products Telecommunications Electricity