CVMC vs. BTAL ETF Comparison

Comparison of Calvert US Mid-Cap Core Responsible Index ETF (CVMC) to QuantShares U.S. Market Neutral Anti Beta Fund ETF (BTAL)

CVMC

Calvert US Mid-Cap Core Responsible Index ETF

CVMC Description

Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities included in the underlying index. The index is composed of common stocks of mid-size companies that operate their businesses in a manner consistent with the Calvert Principles for Responsible Investment.

Grade (RS Rating)

Last Trade

$63.41

Average Daily Volume

2,251

Number of Holdings ^*

606

* 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

$19.01

Average Daily Volume

445,126

Number of Holdings ^*

392

* may have additional holdings in another (foreign) market

Performance

Period	CVMC	BTAL
30 Days	5.83%	-4.57%
60 Days	6.29%	-3.16%
90 Days	8.25%	-3.70%
12 Months	30.95%	-6.81%

216 Overlapping Holdings

	Symbol	Grade	Weight in CVMC	Weight in BTAL	Overlap
	ACGL	D	0.35%	0.38%	0.35%
	AEE	A	0.27%	0.49%	0.27%
	AES	F	0.11%	-0.35%	-0.35%
	AFRM	B	0.14%	-0.84%	-0.84%
	AGNC	D	0.07%	-0.41%	-0.41%
	AKAM	D	0.14%	0.36%	0.14%
	ALGN	D	0.17%	-0.43%	-0.43%
	ALL	A	0.5%	0.48%	0.48%
	ALLY	C	0.1%	-0.37%	-0.37%
	ALSN	B	0.12%	0.56%	0.12%
	AMCR	D	0.17%	0.39%	0.17%
	APG	B	0.1%	-0.44%	-0.44%
	ARE	D	0.21%	-0.4%	-0.4%
	ARMK	B	0.11%	0.45%	0.11%
	ARW	D	0.06%	0.37%	0.06%
	AVB	B	0.34%	0.45%	0.34%
	AVT	C	0.04%	0.42%	0.04%
	AWK	D	0.28%	-0.42%	-0.42%
	AXON	A	0.48%	-0.74%	-0.74%
	AXS	A	0.06%	0.48%	0.06%
	AXTA	A	0.1%	-0.49%	-0.49%
	BBWI	D	0.06%	-0.44%	-0.44%
	BG	F	0.13%	0.4%	0.13%
	BILL	A	0.09%	0.68%	0.09%
	BKR	B	0.45%	0.53%	0.45%
	BLD	D	0.12%	-0.4%	-0.4%
	BMRN	D	0.13%	0.29%	0.13%
	BRO	B	0.29%	0.47%	0.29%
	BWA	D	0.11%	0.44%	0.11%
	BXP	D	0.14%	-0.46%	-0.46%
	CBOE	B	0.2%	0.43%	0.2%
	CBRE	B	0.42%	-0.51%	-0.51%
	CCK	C	0.12%	0.43%	0.12%
	CDP	C	0.04%	0.44%	0.04%
	CE	F	0.09%	-0.24%	-0.24%
	CELH	F	0.05%	-0.29%	-0.29%
	CFG	B	0.2%	-0.49%	-0.49%
	CFLT	B	0.07%	0.56%	0.07%
	CG	A	0.1%	-0.55%	-0.55%
	CHD	B	0.25%	0.47%	0.25%
	CHE	D	0.09%	0.4%	0.09%
	CHH	A	0.04%	0.5%	0.04%
	CHRW	C	0.18%	0.45%	0.18%
	CINF	A	0.22%	0.49%	0.22%
	CLH	B	0.14%	0.43%	0.14%
	CMA	A	0.09%	-0.54%	-0.54%
	CMS	C	0.23%	0.44%	0.23%
	CNC	D	0.31%	0.32%	0.31%
	CNM	D	0.08%	-0.38%	-0.38%
	COHR	B	0.15%	-0.52%	-0.52%
	COLM	B	0.03%	0.43%	0.03%
	COTY	F	0.03%	-0.33%	-0.33%
	CPB	D	0.1%	0.38%	0.1%
	CRL	C	0.11%	-0.41%	-0.41%
	CSGP	D	0.33%	-0.42%	-0.42%
	CTSH	B	0.41%	0.43%	0.41%
	CVNA	B	0.25%	-0.68%	-0.68%
	CW	B	0.16%	0.47%	0.16%
	CWEN	C	0.03%	-0.42%	-0.42%
	D	C	0.47%	-0.45%	-0.45%
	DAL	C	0.46%	-0.68%	-0.68%
	DAR	C	0.07%	-0.45%	-0.45%
	DAY	B	0.12%	-0.56%	-0.56%
	DBX	B	0.07%	0.47%	0.07%
	DECK	A	0.26%	0.44%	0.26%
	DGX	A	0.19%	0.45%	0.19%
	DKS	C	0.11%	-0.37%	-0.37%
	DLB	B	0.04%	0.43%	0.04%
	DOX	D	0.1%	0.43%	0.1%
	DRI	B	0.22%	0.46%	0.22%
	DUOL	A	0.13%	-0.63%	-0.63%
	ED	D	0.34%	0.42%	0.34%
	EFX	F	0.33%	-0.35%	-0.35%
	EG	C	0.15%	0.42%	0.15%
	EL	F	0.14%	-0.31%	-0.31%
	ELAN	D	0.07%	-0.39%	-0.39%
	ELF	C	0.06%	-0.35%	-0.35%
	ELS	C	0.14%	0.43%	0.14%
	ENPH	F	0.07%	-0.23%	-0.23%
	EQR	B	0.3%	0.44%	0.3%
	FBIN	D	0.09%	-0.41%	-0.41%
	FCN	D	0.08%	0.38%	0.08%
	FFIV	B	0.14%	0.52%	0.14%
	FLO	D	0.05%	0.42%	0.05%
	FMC	D	0.08%	0.37%	0.08%
	FND	C	0.1%	-0.4%	-0.4%
	FOUR	B	0.06%	-0.54%	-0.54%
	FTNT	C	0.59%	0.52%	0.52%
	G	B	0.08%	0.49%	0.08%
	GIS	D	0.37%	0.38%	0.37%
	GLW	B	0.38%	0.47%	0.38%
	GME	C	0.07%	-0.56%	-0.56%
	GPC	D	0.16%	0.37%	0.16%
	GTLS	B	0.08%	-0.58%	-0.58%
	HEI	B	0.31%	0.47%	0.31%
	HIG	B	0.33%	0.45%	0.33%
	HPQ	B	0.36%	0.45%	0.36%
	HQY	B	0.08%	0.58%	0.08%
	HRB	D	0.09%	0.41%	0.09%
	HUM	C	0.34%	0.34%	0.34%
	IDXX	F	0.35%	-0.39%	-0.39%
	ILMN	D	0.25%	-0.43%	-0.43%
	ITT	A	0.14%	-0.49%	-0.49%
	JAZZ	B	0.08%	0.44%	0.08%
	JHG	A	0.06%	-0.53%	-0.53%
	JLL	D	0.14%	-0.46%	-0.46%
	JNPR	F	0.13%	0.39%	0.13%
	KHC	F	0.3%	0.38%	0.3%
	KMX	B	0.12%	-0.4%	-0.4%
	KR	B	0.44%	0.47%	0.44%
	LAMR	D	0.12%	-0.46%	-0.46%
	LNC	B	0.06%	-0.48%	-0.48%
	LNT	A	0.17%	0.46%	0.17%
	LPLA	A	0.23%	0.59%	0.23%
	LPX	B	0.07%	-0.52%	-0.52%
	LULU	C	0.34%	0.48%	0.34%
	LYFT	C	0.06%	-0.65%	-0.65%
	LYV	A	0.23%	-0.62%	-0.62%
	MDB	C	0.21%	-0.53%	-0.53%
	MKC	D	0.22%	0.41%	0.22%
	MKSI	C	0.09%	-0.4%	-0.4%
	MOH	F	0.19%	0.36%	0.19%
	MOS	F	0.1%	0.38%	0.1%
	MPWR	F	0.27%	-0.24%	-0.24%
	MSA	D	0.07%	0.4%	0.07%
	MSM	C	0.04%	0.43%	0.04%
	NET	B	0.28%	-0.5%	-0.5%
	NRG	B	0.21%	-0.49%	-0.49%
	NTRS	A	0.2%	-0.54%	-0.54%
	NVT	B	0.14%	-0.49%	-0.49%
	OC	A	0.22%	-0.46%	-0.46%
	OHI	C	0.12%	0.43%	0.12%
	OLLI	D	0.05%	0.41%	0.05%
	ON	D	0.29%	0.38%	0.29%
	ORI	A	0.09%	0.46%	0.09%
	OWL	A	0.12%	-0.58%	-0.58%
	OZK	B	0.05%	-0.49%	-0.49%
	PAG	B	0.03%	0.41%	0.03%
	PAYC	B	0.12%	0.59%	0.12%
	PAYX	C	0.47%	0.47%	0.47%
	PCTY	B	0.09%	0.53%	0.09%
	PEN	B	0.1%	-0.52%	-0.52%
	PFGC	B	0.14%	-0.49%	-0.49%
	PINS	D	0.18%	-0.4%	-0.4%
	PKG	A	0.24%	0.49%	0.24%
	PNFP	B	0.09%	-0.55%	-0.55%
	PODD	C	0.2%	-0.59%	-0.59%
	PWR	A	0.48%	-0.51%	-0.51%
	RBLX	C	0.27%	-0.51%	-0.51%
	REG	B	0.15%	0.45%	0.15%
	RF	A	0.23%	-0.5%	-0.5%
	RGA	A	0.15%	0.48%	0.15%
	RGEN	D	0.08%	-0.37%	-0.37%
	RH	B	0.05%	-0.53%	-0.53%
	RIVN	F	0.1%	-0.3%	-0.3%
	RMBS	C	0.06%	-0.51%	-0.51%
	RMD	C	0.35%	-0.45%	-0.45%
	RNR	C	0.12%	0.46%	0.12%
	ROKU	D	0.1%	-0.47%	-0.47%
	RYAN	B	0.07%	0.47%	0.07%
	SAIA	B	0.2%	-0.59%	-0.59%
	SAIC	F	0.07%	0.4%	0.07%
	SEE	C	0.06%	-0.44%	-0.44%
	SFM	A	0.15%	0.6%	0.15%
	SIGI	C	0.06%	0.48%	0.06%
	SLGN	A	0.05%	0.46%	0.05%
	SMCI	F	0.09%	-0.18%	-0.18%
	SNA	A	0.21%	0.55%	0.21%
	SNAP	C	0.11%	-0.49%	-0.49%
	SNV	B	0.08%	-0.54%	-0.54%
	SNX	C	0.08%	0.41%	0.08%
	SOFI	A	0.14%	-0.79%	-0.79%
	SQ	B	0.47%	-0.6%	-0.6%
	SRPT	D	0.11%	0.32%	0.11%
	SSD	D	0.09%	-0.43%	-0.43%
	ST	F	0.06%	0.36%	0.06%
	TDY	B	0.25%	0.48%	0.25%
	TER	D	0.18%	-0.33%	-0.33%
	TFX	F	0.1%	-0.36%	-0.36%
	THG	A	0.06%	0.51%	0.06%
	THO	B	0.08%	-0.44%	-0.44%
	TNET	D	0.04%	0.37%	0.04%
	TOL	B	0.17%	-0.47%	-0.47%
	TOST	B	0.16%	-0.71%	-0.71%
	TPG	A	0.05%	-0.58%	-0.58%
	TREX	C	0.07%	-0.45%	-0.45%
	TROW	B	0.25%	-0.48%	-0.48%
	TRU	D	0.22%	-0.44%	-0.44%
	TTD	B	0.55%	-0.5%	-0.5%
	TXRH	C	0.14%	0.51%	0.14%
	UGI	A	0.06%	-0.44%	-0.44%
	UNM	A	0.13%	0.57%	0.13%
	URI	B	0.55%	-0.52%	-0.52%
	USFD	A	0.17%	-0.49%	-0.49%
	UTHR	C	0.18%	0.45%	0.18%
	VEEV	C	0.35%	-0.46%	-0.46%
	VFC	C	0.07%	0.48%	0.07%
	VNO	B	0.08%	-0.52%	-0.52%
	VRSN	F	0.16%	0.43%	0.16%
	VRT	B	0.48%	-0.67%	-0.67%
	WAL	B	0.1%	-0.49%	-0.49%
	WCC	B	0.09%	-0.55%	-0.55%
	WEC	A	0.33%	0.46%	0.33%
	WH	B	0.08%	0.53%	0.08%
	WMS	D	0.1%	-0.37%	-0.37%
	WPC	D	0.13%	0.41%	0.13%
	WRB	A	0.17%	0.45%	0.17%
	WTM	A	0.05%	0.39%	0.05%
	WTW	B	0.31%	0.45%	0.31%
	XEL	A	0.4%	0.5%	0.4%
	XPO	B	0.24%	-0.54%	-0.54%
	YUM	B	0.4%	0.43%	0.4%
	Z	A	0.15%	-0.56%	-0.56%
	ZI	D	0.03%	0.43%	0.03%
	ZION	B	0.08%	-0.53%	-0.53%
	ZS	C	0.2%	-0.46%	-0.46%

CVMC Overweight 390 Positions Relative to BTAL

	Symbol	Grade	Weight
	ADSK	A	0.64%
	FICO	B	0.57%
	APP	B	0.55%
	BK	A	0.55%
	AMP	A	0.54%
	CMI	A	0.5%
	GWW	B	0.5%
	FIS	C	0.48%
	AME	A	0.46%
	MSCI	C	0.46%
	FAST	B	0.45%
	PRU	A	0.44%
	CCI	D	0.44%
	PEG	A	0.44%
	IR	B	0.43%
	KVUE	A	0.43%
	ODFL	B	0.43%
	LEN	D	0.42%
	IT	C	0.42%
	VRSK	A	0.42%
	DFS	B	0.42%
	KMB	D	0.42%
	OTIS	C	0.41%
	SNOW	C	0.41%
	VMC	B	0.4%
	DDOG	A	0.4%
	TEAM	A	0.4%
	EA	A	0.4%
	CHTR	C	0.39%
	EXC	C	0.39%
	SYY	B	0.38%
	A	D	0.38%
	IQV	D	0.37%
	GEHC	F	0.37%
	WAB	B	0.37%
	NUE	C	0.36%
	ALNY	D	0.35%
	ROK	B	0.35%
	HUBS	A	0.35%
	EXR	D	0.35%
	IRM	D	0.34%
	MTB	A	0.34%
	FITB	A	0.31%
	PPG	F	0.31%
	DOV	A	0.31%
	XYL	D	0.31%
	NVR	D	0.31%
	NDAQ	A	0.31%
	TTWO	A	0.3%
	ARES	A	0.3%
	ANSS	B	0.3%
	HSY	F	0.29%
	RJF	A	0.29%
	EBAY	D	0.29%
	SW	A	0.29%
	VTR	C	0.29%
	KEYS	A	0.29%
	PHM	D	0.29%
	FTV	C	0.29%
	DTE	C	0.28%
	MTD	D	0.28%
	HPE	B	0.28%
	TSCO	D	0.28%
	WST	C	0.27%
	TYL	B	0.27%
	HUBB	B	0.27%
	BR	A	0.27%
	STT	A	0.27%
	EME	C	0.26%
	BIIB	F	0.26%
	SBAC	D	0.26%
	WBD	C	0.26%
	ES	D	0.25%
	CDW	F	0.25%
	SYF	B	0.25%
	NTAP	C	0.25%
	CSL	C	0.25%
	STLD	B	0.25%
	VLTO	D	0.25%
	FCNCA	A	0.25%
	STE	F	0.24%
	ZBH	C	0.24%
	WAT	B	0.24%
	HBAN	A	0.24%
	LII	A	0.23%
	OMC	C	0.23%
	K	A	0.23%
	PTC	A	0.23%
	IFF	D	0.23%
	ESS	B	0.22%
	LH	C	0.22%
	RS	B	0.22%
	WDC	D	0.22%
	ZM	B	0.22%
	BAH	F	0.22%
	MAA	B	0.21%
	ZBRA	B	0.21%
	STX	D	0.21%
	WSO	A	0.21%
	EXPD	D	0.21%
	FDS	B	0.21%
	BALL	D	0.21%
	CLX	B	0.2%
	TRMB	B	0.2%
	IEX	B	0.2%
	WY	D	0.2%
	PNR	A	0.2%
	JBHT	C	0.2%
	PFG	D	0.19%
	HOLX	D	0.19%
	BAX	D	0.18%
	FSLR	F	0.18%
	NI	A	0.18%
	AVY	D	0.18%
	KIM	A	0.18%
	DPZ	C	0.17%
	DOC	D	0.17%
	NTNX	A	0.17%
	DOCU	A	0.17%
	GGG	B	0.17%
	SUI	D	0.17%
	ULTA	F	0.17%
	GEN	B	0.17%
	FIX	A	0.17%
	BBY	D	0.17%
	TWLO	A	0.17%
	APTV	D	0.17%
	MANH	D	0.17%
	KEY	B	0.17%
	RVTY	F	0.16%
	ENTG	D	0.16%
	PSTG	D	0.16%
	NDSN	B	0.16%
	EVRG	A	0.16%
	ACM	A	0.16%
	DG	F	0.16%
	INCY	C	0.16%
	SSNC	B	0.16%
	CASY	A	0.16%
	BURL	A	0.16%
	GWRE	A	0.16%
	MAS	D	0.16%
	UDR	B	0.16%
	ROL	B	0.16%
	EQH	B	0.15%
	SWK	D	0.15%
	WSM	B	0.15%
	AVTR	F	0.15%
	HST	C	0.14%
	CMC	B	0.14%
	SWKS	F	0.14%
	EWBC	A	0.14%
	EPAM	C	0.14%
	ALLE	D	0.14%
	CPT	B	0.14%
	CAG	D	0.14%
	DT	C	0.14%
	TW	A	0.14%
	JBL	B	0.14%
	SJM	D	0.13%
	AAL	B	0.13%
	POOL	C	0.13%
	OKTA	C	0.13%
	TPR	B	0.13%
	JKHY	D	0.13%
	LECO	B	0.13%
	RRX	B	0.13%
	ATR	B	0.13%
	NBIX	C	0.13%
	SCI	B	0.13%
	EMN	D	0.13%
	SUM	B	0.13%
	DLTR	F	0.13%
	JEF	A	0.12%
	AYI	B	0.12%
	WTRG	B	0.12%
	AIT	A	0.12%
	LBRDK	C	0.12%
	CUBE	D	0.12%
	ATI	D	0.12%
	KNX	B	0.12%
	LW	C	0.12%
	TTEK	F	0.12%
	IPG	D	0.12%
	TECH	D	0.12%
	WING	D	0.11%
	DCI	B	0.11%
	MORN	B	0.11%
	FRT	B	0.11%
	EXEL	B	0.11%
	RPRX	D	0.11%
	BJ	A	0.11%
	ALV	C	0.11%
	EHC	B	0.11%
	WWD	B	0.11%
	MKTX	D	0.11%
	SF	B	0.11%
	MLI	C	0.11%
	CTLT	B	0.11%
	HRL	D	0.1%
	TTC	D	0.1%
	LKQ	D	0.1%
	BRX	A	0.1%
	GPK	C	0.1%
	PRI	A	0.1%
	R	B	0.1%
	NYT	C	0.1%
	WBS	A	0.1%
	GMED	A	0.1%
	CNH	C	0.1%
	AFG	A	0.1%
	AOS	F	0.1%
	KNSL	B	0.1%
	EXAS	D	0.1%
	CIEN	B	0.1%
	AAON	B	0.1%
	REXR	F	0.1%
	EVR	B	0.1%
	FHN	A	0.1%
	INGR	B	0.1%
	NNN	D	0.09%
	MOD	A	0.09%
	RHI	B	0.09%
	BERY	B	0.09%
	CBSH	A	0.09%
	TPX	B	0.09%
	ENSG	D	0.09%
	BRBR	A	0.09%
	FLS	B	0.09%
	HSIC	B	0.09%
	LSTR	D	0.09%
	PLNT	A	0.09%
	ALK	C	0.09%
	MEDP	D	0.09%
	GL	B	0.09%
	LAD	A	0.09%
	HLI	B	0.09%
	MTZ	B	0.09%
	LEA	D	0.08%
	S	B	0.08%
	UFPI	B	0.08%
	CVLT	B	0.08%
	WEX	D	0.08%
	IVZ	B	0.08%
	FRPT	B	0.08%
	VMI	B	0.08%
	VOYA	B	0.08%
	SKX	D	0.08%
	FR	C	0.08%
	H	B	0.08%
	RL	B	0.08%
	SSB	B	0.08%
	PARA	C	0.08%
	HLNE	B	0.08%
	HAS	D	0.08%
	ESTC	C	0.08%
	GXO	B	0.08%
	CGNX	C	0.08%
	TMHC	B	0.08%
	GKOS	B	0.08%
	CFR	B	0.08%
	ESAB	B	0.08%
	MIDD	C	0.08%
	OSK	B	0.08%
	ONTO	D	0.08%
	WTFC	A	0.08%
	SEIC	B	0.08%
	ACI	C	0.08%
	DVA	B	0.08%
	BPMC	C	0.07%
	BCPC	B	0.07%
	AGCO	D	0.07%
	WTS	B	0.07%
	KRG	B	0.07%
	KD	B	0.07%
	BPOP	B	0.07%
	CADE	B	0.07%
	ONB	B	0.07%
	SPSC	C	0.07%
	CBT	C	0.07%
	CWST	A	0.07%
	ANF	C	0.07%
	COLD	D	0.07%
	NOVT	D	0.07%
	BFAM	D	0.07%
	IDA	A	0.07%
	MHK	D	0.07%
	MOG.A	B	0.07%
	LFUS	F	0.07%
	LSCC	D	0.07%
	COKE	C	0.07%
	ESI	A	0.07%
	FAF	A	0.07%
	MTH	D	0.07%
	JXN	C	0.07%
	WSC	D	0.07%
	EXLS	B	0.07%
	PB	A	0.07%
	MTN	C	0.07%
	RHP	B	0.07%
	SMAR	A	0.07%
	BMI	B	0.07%
	HALO	F	0.07%
	STAG	F	0.07%
	BIO	D	0.07%
	OLED	D	0.07%
	HOMB	A	0.06%
	IBP	D	0.06%
	INSP	D	0.06%
	CRUS	D	0.06%
	ETSY	D	0.06%
	ESNT	D	0.06%
	HXL	D	0.06%
	EXPO	D	0.06%
	QLYS	C	0.06%
	SON	D	0.06%
	STWD	C	0.06%
	FNB	A	0.06%
	NXST	C	0.06%
	WHR	B	0.06%
	DY	D	0.06%
	COOP	B	0.06%
	VRNS	D	0.06%
	AL	B	0.06%
	BEN	C	0.06%
	BECN	B	0.06%
	HOG	D	0.06%
	ITRI	B	0.06%
	SITE	D	0.06%
	BC	C	0.06%
	GATX	A	0.06%
	MTG	C	0.06%
	MAT	D	0.06%
	NFG	A	0.06%
	BRKR	D	0.06%
	VNT	B	0.06%
	ALTR	B	0.06%
	FSS	B	0.06%
	MMSI	B	0.06%
	AWI	A	0.06%
	AZEK	A	0.06%
	OMF	A	0.06%
	EPRT	B	0.06%
	KBH	D	0.06%
	QRVO	F	0.06%
	DOCS	C	0.06%
	TRNO	F	0.06%
	BCO	D	0.05%
	PSN	D	0.05%
	GAP	C	0.05%
	FELE	B	0.05%
	ABG	B	0.05%
	RDN	C	0.05%
	SLM	A	0.05%
	TENB	C	0.05%
	WMG	C	0.05%
	BCC	B	0.05%
	SWX	B	0.05%
	HCP	B	0.05%
	APPF	B	0.05%
	AMG	B	0.05%
	POR	C	0.05%
	ZWS	B	0.05%
	TKR	D	0.05%
	CROX	D	0.05%
	IONS	F	0.05%
	MMS	F	0.05%
	PVH	C	0.05%
	ATKR	C	0.04%
	BBIO	F	0.04%
	LANC	C	0.04%
	XRAY	F	0.04%
	SIG	B	0.04%
	NSIT	F	0.04%
	CHWY	B	0.04%
	M	D	0.04%
	OPCH	D	0.04%
	AN	C	0.04%
	CWAN	B	0.04%
	OGN	D	0.04%
	ASH	D	0.04%
	EEFT	B	0.04%
	FIVE	F	0.04%
	PFSI	D	0.03%
	ALGM	D	0.03%
	CACC	D	0.03%
	AGR	B	0.03%
	BOKF	B	0.03%
	APLS	D	0.03%
	LEVI	F	0.02%

CVMC Underweight 176 Positions Relative to BTAL

	Symbol	Grade	Weight
	MSTR	C	-1.19%
	IBKR	A	-0.62%
	KMI	A	-0.56%
	NWL	B	-0.54%
	MKL	A	-0.53%
	BWXT	B	-0.53%
	TGNA	B	-0.53%
	TRV	B	-0.52%
	MSI	B	-0.51%
	RLI	B	-0.51%
	PCAR	B	-0.51%
	MCK	B	-0.51%
	LNG	B	-0.51%
	BMY	B	-0.51%
	WELL	A	-0.5%
	PNM	F	-0.5%
	ORLY	B	-0.5%
	T	A	-0.5%
	CSCO	B	-0.49%
	TMUS	B	-0.49%
	GILD	C	-0.49%
	FOXA	B	-0.48%
	VTRS	A	-0.48%
	AIZ	A	-0.48%
	SBRA	C	-0.47%
	CME	A	-0.47%
	AON	A	-0.47%
	HON	B	-0.47%
	EDR	A	-0.46%
	WEN	D	-0.46%
	CF	B	-0.46%
	ADP	B	-0.46%
	CB	C	-0.45%
	CSX	B	-0.45%
	CMG	B	-0.45%
	PGR	A	-0.45%
	WM	A	-0.45%
	IBM	C	-0.45%
	COR	B	-0.45%
	ADC	B	-0.45%
	L	A	-0.45%
	ROP	B	-0.45%
	PNW	B	-0.45%
	XOM	B	-0.44%
	ACN	C	-0.44%
	VZ	C	-0.44%
	NEU	C	-0.44%
	UNH	C	-0.43%
	MSFT	F	-0.43%
	MUSA	A	-0.43%
	DD	D	-0.43%
	RTX	C	-0.43%
	X	C	-0.43%
	RSG	A	-0.43%
	TJX	A	-0.43%
	DUK	C	-0.43%
	VICI	C	-0.42%
	JNJ	D	-0.42%
	MMC	B	-0.42%
	CACI	D	-0.42%
	CXT	B	-0.42%
	GLPI	C	-0.42%
	MCD	D	-0.42%
	J	F	-0.41%
	GD	F	-0.41%
	CI	F	-0.4%
	NOC	D	-0.4%
	TXT	D	-0.4%
	ASGN	F	-0.39%
	O	D	-0.39%
	FANG	D	-0.39%
	ERIE	D	-0.38%
	OXY	D	-0.38%
	LMT	D	-0.38%
	MAN	D	-0.37%
	KBR	F	-0.37%
	KO	D	-0.37%
	PFE	D	-0.37%
	DVN	F	-0.37%
	AMGN	D	-0.37%
	MUR	D	-0.37%
	ABBV	D	-0.36%
	NEM	D	-0.35%
	MTCH	D	-0.35%
	FOXF	F	-0.35%
	AZO	C	-0.33%
	ELV	F	-0.33%
	MDU	D	-0.32%
	AGL	F	-0.16%
	SEDG	F	--0.19%
	RUN	F	--0.21%
	MRNA	F	--0.22%
	CNXC	F	--0.23%
	WOLF	F	--0.25%
	TXG	F	--0.26%
	NTLA	F	--0.27%
	RKT	F	--0.29%
	OPEN	D	--0.3%
	BRZE	C	--0.33%
	AMKR	D	--0.34%
	SHLS	F	--0.35%
	ARWR	F	--0.35%
	LRCX	F	--0.36%
	NVCR	C	--0.38%
	RIG	D	--0.38%
	DINO	D	--0.39%
	PLD	D	--0.39%
	KSS	F	--0.39%
	WBA	F	--0.4%
	AMD	F	--0.4%
	ROIV	C	--0.41%
	W	F	--0.41%
	POWI	D	--0.41%
	DNLI	D	--0.42%
	CHX	C	--0.42%
	FCX	D	--0.42%
	CZR	F	--0.42%
	UBER	D	--0.42%
	MU	D	--0.43%
	CC	C	--0.43%
	CRSP	D	--0.43%
	MGM	D	--0.43%
	PATH	C	--0.43%
	BLDR	D	--0.44%
	F	C	--0.44%
	EW	C	--0.44%
	RYN	D	--0.44%
	TGT	F	--0.44%
	NWE	B	--0.45%
	CARR	D	--0.45%
	MTDR	B	--0.45%
	AVGO	D	--0.45%
	SMG	D	--0.46%
	KRC	C	--0.46%
	ANET	C	--0.46%
	PENN	C	--0.46%
	HHH	B	--0.47%
	SHW	A	--0.47%
	NVDA	C	--0.48%
	GH	B	--0.49%
	USB	A	--0.49%
	CAR	C	--0.51%
	GNRC	B	--0.51%
	TT	A	--0.51%
	RRC	B	--0.51%
	CEG	D	--0.52%
	ETN	A	--0.52%
	IOT	A	--0.52%
	PYPL	B	--0.52%
	ALB	C	--0.52%
	DELL	C	--0.53%
	AR	B	--0.53%
	EXP	A	--0.53%
	FYBR	D	--0.53%
	DKNG	B	--0.53%
	INTC	D	--0.54%
	BLK	C	--0.54%
	KKR	A	--0.55%
	AA	B	--0.56%
	SCHW	B	--0.56%
	EXPE	B	--0.56%
	MRVL	B	--0.56%
	TDOC	C	--0.56%
	NTRA	B	--0.56%
	BX	A	--0.57%
	CRWD	B	--0.57%
	EQT	B	--0.59%
	DASH	A	--0.59%
	LITE	B	--0.62%
	CCL	B	--0.63%
	PTON	B	--0.69%
	TSLA	B	--0.7%
	COIN	C	--0.71%
	HOOD	B	--0.72%
	VST	B	--0.76%
	PLTR	B	--0.87%

CVMC: Top Represented Industries & Keywords

Industries: Software - Application Banks - Regional - US Diversified Industrials Business Services Asset Management Biotechnology Software - Infrastructure Diagnostics & Research Packaged Foods Specialty Retail Utilities - Regulated Electric Scientific & Technical Instruments Building Materials Packaging & Containers Capital Markets Insurance - Property & Casualty Medical Instruments & Supplies REIT - Residential Engineering & Construction Information Technology Services

Keywords: S&P 500 Computing Nasdaq 100 Insurance Banking Bank Electronics Real Estate Investment Trust Chemical Aerospace Electricity Mining Natural Gas Building Materials Insurance Products Construction Beverage Medicine Telecommunications Semiconductor

BTAL: Top Represented Industries & Keywords

Industries: Software - Application Insurance - Property & Casualty Software - Infrastructure Biotechnology Semiconductors Utilities - Regulated Electric Asset Management Banks - Regional - US Specialty Retail Aerospace & Defense Business Services Oil & Gas E&P Building Materials Information Technology Services Restaurants Diagnostics & Research Drug Manufacturers - Major Health Care Plans Diversified Industrials Household & Personal Products

Keywords: S&P 500 Nasdaq 100 Insurance Natural Gas Computing Insurance Products Electricity Real Estate Investment Trust Aerospace Chemical IBD 50 Semiconductor Telecommunications Banking Cloud Computing Dow Jones Component Electronics Biotechnology Medicine Bank