DTD vs. QVML ETF Comparison

Comparison of WisdomTree Total Dividend Fund (DTD) to Invesco S&P 500 QVM Multi-factor ETF (QVML)

DTD

WisdomTree Total Dividend Fund

DTD Description

The investment seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Dividend Index. The fund invests at least 95% of its total assets (exclusive of collateral held from securities lending) in component securities of the index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. The WisdomTree Dividend Index is a fundamentally-weighted index that defines the dividend-paying portion of the U.S. stock market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$76.26

Average Daily Volume

20,939

Number of Holdings ^*

805

* may have additional holdings in another (foreign) market

QVML

Invesco S&P 500 QVM Multi-factor ETF

QVML Description

The investment seeks to track the investment results of the S&P 500 ® Quality, Value & Momentum Top 90% Multi- Factor Index (the “underlying index”). The fund generally 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 500 ® 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

$33.82

Average Daily Volume

1,105

Number of Holdings ^*

444

* may have additional holdings in another (foreign) market

Performance

Period	DTD	QVML
30 Days	3.09%	2.09%
60 Days	5.11%	3.90%
90 Days	7.85%	4.37%
12 Months	26.12%	32.66%

322 Overlapping Holdings

	Symbol	Grade	Weight in DTD	Weight in QVML	Overlap
	A	C	0.04%	0.09%	0.04%
	AAPL	C	3.18%	6.84%	3.18%
	ABBV	C	2.38%	0.78%	0.78%
	ABT	C	0.45%	0.47%	0.45%
	ADI	C	0.24%	0.25%	0.24%
	ADM	D	0.09%	0.08%	0.08%
	ADP	B	0.33%	0.27%	0.27%
	AEE	C	0.12%	0.05%	0.05%
	AEP	C	0.28%	0.13%	0.13%
	AFL	C	0.27%	0.14%	0.14%
	AIG	D	0.14%	0.13%	0.13%
	AIZ	B	0.03%	0.02%	0.02%
	AJG	D	0.07%	0.15%	0.07%
	ALB	D	0.02%	0.03%	0.02%
	ALL	B	0.15%	0.12%	0.12%
	AMAT	D	0.15%	0.32%	0.15%
	AME	C	0.04%	0.09%	0.04%
	AMP	A	0.12%	0.1%	0.1%
	AOS	D	0.03%	0.02%	0.02%
	APA	F	0.03%	0.02%	0.02%
	APH	D	0.14%	0.17%	0.14%
	ARE	C	0.09%	0.05%	0.05%
	ATO	B	0.1%	0.05%	0.05%
	AVB	B	0.17%	0.08%	0.08%
	AVGO	C	2.4%	1.51%	1.51%
	AVY	C	0.03%	0.04%	0.03%
	AXP	B	0.3%	0.37%	0.3%
	BAC	D	1.09%	0.63%	0.63%
	BALL	C	0.04%	0.05%	0.04%
	BBWI	F	0.02%	0.02%	0.02%
	BBY	C	0.12%	0.04%	0.04%
	BDX	D	0.13%	0.16%	0.13%
	BEN	F	0.06%	0.01%	0.01%
	BK	B	0.22%	0.12%	0.12%
	BKNG	C	0.25%	0.31%	0.25%
	BKR	C	0.1%	0.08%	0.08%
	BLK	B	0.39%	0.29%	0.29%
	BR	D	0.07%	0.06%	0.06%
	BRO	C	0.04%	0.06%	0.04%
	BWA	D	0.02%	0.02%	0.02%
	BX	B	0.34%	0.24%	0.24%
	C	C	0.56%	0.27%	0.27%
	CAG	C	0.08%	0.04%	0.04%
	CAH	C	0.06%	0.06%	0.06%
	CARR	B	0.1%	0.14%	0.1%
	CAT	B	0.42%	0.42%	0.42%
	CBOE	C	0.05%	0.05%	0.05%
	CDW	D	0.04%	0.07%	0.04%
	CE	F	0.04%	0.03%	0.03%
	CEG	C	0.07%	0.14%	0.07%
	CF	C	0.04%	0.04%	0.04%
	CHD	D	0.04%	0.06%	0.04%
	CHRW	B	0.04%	0.03%	0.03%
	CI	C	0.24%	0.25%	0.24%
	CINF	B	0.07%	0.05%	0.05%
	CL	D	0.37%	0.2%	0.2%
	CLX	C	0.08%	0.05%	0.05%
	CMCSA	D	0.83%	0.39%	0.39%
	CME	C	0.19%	0.19%	0.19%
	CMI	C	0.14%	0.1%	0.1%
	CMS	C	0.07%	0.05%	0.05%
	CNP	C	0.05%	0.04%	0.04%
	COF	B	0.13%	0.12%	0.12%
	COP	D	0.31%	0.29%	0.29%
	COST	B	0.45%	0.91%	0.45%
	CPB	C	0.06%	0.03%	0.03%
	CPT	B	0.03%	0.03%	0.03%
	CRM	D	0.2%	0.57%	0.2%
	CSCO	C	1.15%	0.48%	0.48%
	CSX	D	0.1%	0.16%	0.1%
	CTAS	B	0.15%	0.16%	0.15%
	CTSH	C	0.08%	0.09%	0.08%
	CVS	D	0.28%	0.17%	0.17%
	CVX	D	1.41%	0.6%	0.6%
	D	C	0.34%	0.12%	0.12%
	DAL	C	0.04%	0.07%	0.04%
	DD	B	0.09%	0.08%	0.08%
	DE	B	0.19%	0.24%	0.19%
	DFS	B	0.1%	0.08%	0.08%
	DGX	B	0.04%	0.04%	0.04%
	DHI	B	0.08%	0.14%	0.08%
	DHR	B	0.17%	0.41%	0.17%
	DIS	D	0.16%	0.4%	0.16%
	DLR	B	0.17%	0.12%	0.12%
	DOV	B	0.05%	0.06%	0.05%
	DOW	D	0.23%	0.08%	0.08%
	DPZ	F	0.03%	0.03%	0.03%
	DRI	B	0.11%	0.04%	0.04%
	DTE	C	0.1%	0.06%	0.06%
	DUK	C	0.44%	0.21%	0.21%
	EA	D	0.04%	0.08%	0.04%
	EBAY	B	0.1%	0.08%	0.08%
	ECL	B	0.13%	0.14%	0.13%
	ED	C	0.22%	0.09%	0.09%
	EFX	B	0.04%	0.08%	0.04%
	EIX	C	0.16%	0.08%	0.08%
	ELV	C	0.19%	0.3%	0.19%
	EMN	B	0.05%	0.03%	0.03%
	EMR	D	0.16%	0.14%	0.14%
	EOG	D	0.39%	0.17%	0.17%
	EQR	B	0.11%	0.06%	0.06%
	EQT	D	0.06%	0.03%	0.03%
	ES	C	0.13%	0.06%	0.06%
	ESS	B	0.06%	0.05%	0.05%
	ETR	B	0.2%	0.06%	0.06%
	EVRG	B	0.09%	0.03%	0.03%
	EXC	C	0.16%	0.1%	0.1%
	EXPD	C	0.04%	0.04%	0.04%
	EXR	B	0.17%	0.09%	0.09%
	FANG	D	0.09%	0.08%	0.08%
	FAST	C	0.16%	0.1%	0.1%
	FDS	C	0.02%	0.04%	0.02%
	FDX	C	0.16%	0.16%	0.16%
	FE	C	0.13%	0.06%	0.06%
	FITB	B	0.14%	0.07%	0.07%
	FRT	C	0.04%	0.02%	0.02%
	FTV	C	0.03%	0.06%	0.03%
	GD	B	0.2%	0.16%	0.16%
	GE	B	0.16%	0.44%	0.16%
	GEHC	C	0.04%	0.09%	0.04%
	GIS	B	0.19%	0.1%	0.1%
	GL	C	0.01%	0.02%	0.01%
	GLW	C	0.16%	0.07%	0.07%
	GM	C	0.09%	0.11%	0.09%
	GOOG	D	0.52%	3.81%	0.52%
	GPC	D	0.07%	0.04%	0.04%
	GPN	D	0.03%	0.07%	0.03%
	GS	C	0.58%	0.37%	0.37%
	GWW	B	0.09%	0.1%	0.09%
	HAL	F	0.05%	0.06%	0.05%
	HBAN	B	0.11%	0.05%	0.05%
	HCA	B	0.12%	0.18%	0.12%
	HD	B	1.73%	0.85%	0.85%
	HES	F	0.06%	0.09%	0.06%
	HIG	B	0.14%	0.08%	0.08%
	HII	D	0.03%	0.02%	0.02%
	HON	D	0.49%	0.31%	0.31%
	HPE	D	0.06%	0.04%	0.04%
	HPQ	D	0.14%	0.07%	0.07%
	HRL	C	0.07%	0.02%	0.02%
	HST	C	0.04%	0.03%	0.03%
	HSY	C	0.09%	0.07%	0.07%
	HUBB	B	0.05%	0.05%	0.05%
	HUM	F	0.04%	0.1%	0.04%
	HWM	B	0.04%	0.09%	0.04%
	IBM	B	1.29%	0.45%	0.45%
	ICE	C	0.23%	0.21%	0.21%
	IEX	D	0.02%	0.04%	0.02%
	INTU	C	0.17%	0.41%	0.17%
	INVH	C	0.05%	0.05%	0.05%
	IP	B	0.09%	0.04%	0.04%
	IPG	C	0.06%	0.03%	0.03%
	IR	C	0.04%	0.09%	0.04%
	IRM	C	0.12%	0.07%	0.07%
	ITW	C	0.29%	0.16%	0.16%
	J	C	0.02%	0.04%	0.02%
	JBHT	D	0.02%	0.03%	0.02%
	JBL	D	0.01%	0.03%	0.01%
	JKHY	B	0.02%	0.03%	0.02%
	JNJ	C	2.09%	0.94%	0.94%
	JNPR	B	0.05%	0.03%	0.03%
	JPM	D	2.81%	1.48%	1.48%
	K	B	0.14%	0.05%	0.05%
	KDP	B	0.17%	0.09%	0.09%
	KHC	C	0.24%	0.07%	0.07%
	KIM	C	0.05%	0.04%	0.04%
	KLAC	D	0.12%	0.21%	0.12%
	KMB	D	0.3%	0.11%	0.11%
	KO	C	1.68%	0.65%	0.65%
	KR	C	0.16%	0.09%	0.09%
	KVUE	C	0.21%	0.11%	0.11%
	L	C	0.01%	0.03%	0.01%
	LDOS	B	0.04%	0.05%	0.04%
	LEN	B	0.07%	0.11%	0.07%
	LHX	C	0.11%	0.1%	0.1%
	LKQ	F	0.03%	0.02%	0.02%
	LLY	C	0.77%	1.65%	0.77%
	LMT	C	0.48%	0.29%	0.29%
	LNT	B	0.06%	0.04%	0.04%
	LOW	B	0.56%	0.34%	0.34%
	LRCX	F	0.13%	0.21%	0.13%
	LUV	C	0.06%	0.04%	0.04%
	LVS	D	0.07%	0.03%	0.03%
	LW	D	0.02%	0.02%	0.02%
	MA	B	0.45%	0.96%	0.45%
	MAA	B	0.07%	0.04%	0.04%
	MAR	C	0.13%	0.13%	0.13%
	MAS	B	0.06%	0.04%	0.04%
	MCHP	F	0.09%	0.1%	0.09%
	MCK	F	0.07%	0.15%	0.07%
	MCO	B	0.11%	0.17%	0.11%
	MDLZ	B	0.44%	0.24%	0.24%
	MET	B	0.22%	0.11%	0.11%
	META	B	0.88%	2.49%	0.88%
	MKC	C	0.07%	0.05%	0.05%
	MKTX	C	0.01%	0.02%	0.01%
	MLM	D	0.04%	0.08%	0.04%
	MMC	C	0.28%	0.26%	0.26%
	MO	C	0.71%	0.22%	0.22%
	MOS	F	0.02%	0.02%	0.02%
	MPC	F	0.24%	0.15%	0.15%
	MPWR	C	0.04%	0.09%	0.04%
	MRK	D	0.98%	0.66%	0.66%
	MRO	C	0.03%	0.04%	0.03%
	MS	D	0.8%	0.29%	0.29%
	MSFT	C	2.96%	7.0%	2.96%
	MSI	B	0.14%	0.17%	0.14%
	MTB	B	0.13%	0.07%	0.07%
	MU	F	0.08%	0.2%	0.08%
	NDAQ	A	0.07%	0.06%	0.06%
	NDSN	C	0.02%	0.03%	0.02%
	NI	B	0.06%	0.03%	0.03%
	NKE	D	0.15%	0.23%	0.15%
	NOC	B	0.14%	0.18%	0.14%
	NRG	C	0.07%	0.04%	0.04%
	NSC	C	0.16%	0.14%	0.14%
	NTAP	D	0.09%	0.05%	0.05%
	NTRS	A	0.08%	0.04%	0.04%
	NUE	F	0.05%	0.09%	0.05%
	NVDA	D	2.05%	6.04%	2.05%
	NWSA	D	0.03%	0.03%	0.03%
	O	C	0.29%	0.13%	0.13%
	ODFL	D	0.04%	0.08%	0.04%
	OKE	B	0.33%	0.12%	0.12%
	OMC	B	0.08%	0.05%	0.05%
	ORCL	C	0.67%	0.5%	0.5%
	OXY	F	0.07%	0.08%	0.07%
	PAYC	D	0.01%	0.02%	0.01%
	PAYX	C	0.24%	0.1%	0.1%
	PCAR	D	0.25%	0.12%	0.12%
	PCG	C	0.04%	0.1%	0.04%
	PEG	B	0.26%	0.1%	0.1%
	PEP	C	1.28%	0.6%	0.6%
	PFG	B	0.09%	0.04%	0.04%
	PG	C	1.78%	0.95%	0.95%
	PGR	B	0.13%	0.36%	0.13%
	PH	B	0.17%	0.18%	0.17%
	PHM	B	0.06%	0.07%	0.06%
	PKG	B	0.1%	0.04%	0.04%
	PLD	C	0.39%	0.28%	0.28%
	PNC	B	0.35%	0.17%	0.17%
	PNW	C	0.08%	0.02%	0.02%
	POOL	C	0.03%	0.03%	0.03%
	PPG	D	0.09%	0.07%	0.07%
	PPL	C	0.1%	0.06%	0.06%
	PRU	C	0.24%	0.1%	0.1%
	PSA	B	0.29%	0.13%	0.13%
	PSX	F	0.21%	0.13%	0.13%
	PWR	B	0.04%	0.09%	0.04%
	QCOM	D	0.45%	0.41%	0.41%
	REG	C	0.03%	0.03%	0.03%
	RF	B	0.13%	0.05%	0.05%
	RJF	C	0.05%	0.05%	0.05%
	RL	C	0.03%	0.02%	0.02%
	ROK	D	0.06%	0.07%	0.06%
	ROL	C	0.04%	0.03%	0.03%
	ROP	C	0.05%	0.13%	0.05%
	ROST	C	0.07%	0.12%	0.07%
	RSG	D	0.1%	0.1%	0.1%
	RTX	C	0.57%	0.38%	0.38%
	SCHW	D	0.19%	0.21%	0.19%
	SHW	B	0.13%	0.21%	0.13%
	SJM	C	0.05%	0.03%	0.03%
	SNA	C	0.07%	0.03%	0.03%
	SO	B	0.44%	0.23%	0.23%
	SPG	B	0.38%	0.12%	0.12%
	SPGI	B	0.18%	0.38%	0.18%
	SRE	C	0.19%	0.12%	0.12%
	STLD	F	0.04%	0.04%	0.04%
	STT	A	0.12%	0.06%	0.06%
	STZ	D	0.12%	0.09%	0.09%
	SW	B	0.04%	0.03%	0.03%
	SWK	B	0.06%	0.04%	0.04%
	SWKS	D	0.05%	0.03%	0.03%
	SYF	C	0.07%	0.04%	0.04%
	SYK	C	0.25%	0.29%	0.25%
	SYY	D	0.19%	0.09%	0.09%
	TAP	D	0.04%	0.02%	0.02%
	TER	D	0.02%	0.04%	0.02%
	TGT	C	0.25%	0.17%	0.17%
	TJX	B	0.36%	0.3%	0.3%
	TMO	B	0.2%	0.55%	0.2%
	TMUS	C	0.68%	0.25%	0.25%
	TPR	C	0.05%	0.02%	0.02%
	TRGP	B	0.09%	0.07%	0.07%
	TROW	D	0.12%	0.05%	0.05%
	TRV	C	0.14%	0.13%	0.13%
	TSCO	C	0.08%	0.07%	0.07%
	TSN	C	0.08%	0.04%	0.04%
	TXN	C	0.66%	0.41%	0.41%
	TXT	D	0.02%	0.04%	0.02%
	UDR	C	0.05%	0.03%	0.03%
	UHS	B	0.02%	0.03%	0.02%
	UNH	C	1.28%	1.28%	1.28%
	UNP	C	0.4%	0.37%	0.37%
	UPS	D	0.44%	0.22%	0.22%
	URI	B	0.07%	0.12%	0.07%
	USB	B	0.39%	0.17%	0.17%
	V	C	0.65%	1.07%	0.65%
	VICI	C	0.29%	0.08%	0.08%
	VLO	F	0.17%	0.11%	0.11%
	VLTO	C	0.02%	0.06%	0.02%
	VMC	D	0.04%	0.08%	0.04%
	VRSK	D	0.04%	0.09%	0.04%
	VST	C	0.11%	0.07%	0.07%
	VTR	C	0.09%	0.06%	0.06%
	VTRS	D	0.09%	0.03%	0.03%
	WAB	B	0.03%	0.07%	0.03%
	WEC	C	0.11%	0.07%	0.07%
	WELL	C	0.19%	0.17%	0.17%
	WFC	D	0.68%	0.45%	0.45%
	WM	D	0.23%	0.19%	0.19%
	WMB	B	0.3%	0.13%	0.13%
	WMT	C	1.59%	0.79%	0.79%
	WRB	C	0.07%	0.04%	0.04%
	WST	D	0.03%	0.05%	0.03%
	WY	C	0.05%	0.05%	0.05%
	XEL	B	0.22%	0.08%	0.08%
	XOM	C	2.41%	1.24%	1.24%
	XYL	C	0.05%	0.08%	0.05%
	ZBH	F	0.02%	0.06%	0.02%
	ZTS	C	0.14%	0.2%	0.14%

DTD Overweight 483 Positions Relative to QVML

	Symbol	Grade	Weight
	PM	C	1.23%
	MCD	B	0.87%
	GOOGL	D	0.79%
	AMGN	B	0.64%
	BMY	C	0.5%
	GILD	B	0.45%
	AMT	C	0.35%
	SBUX	C	0.33%
	CCI	C	0.29%
	FIS	B	0.21%
	APD	B	0.18%
	EQIX	C	0.17%
	APO	C	0.15%
	YUM	D	0.12%
	KKR	B	0.11%
	OTIS	C	0.1%
	CRBG	D	0.09%
	ARES	B	0.09%
	FNF	B	0.08%
	ORI	B	0.07%
	CUBE	B	0.07%
	AM	C	0.07%
	AWK	B	0.07%
	WPC	C	0.07%
	GLPI	C	0.07%
	LNG	C	0.07%
	OGE	C	0.06%
	DELL	D	0.06%
	CNA	C	0.06%
	RGA	C	0.06%
	WSM	D	0.06%
	LAMR	B	0.06%
	CG	D	0.06%
	INGR	B	0.05%
	ALLY	F	0.05%
	FOX	B	0.05%
	CHRD	F	0.05%
	DKS	D	0.05%
	LII	B	0.05%
	RS	D	0.05%
	EQH	C	0.05%
	ERIE	B	0.05%
	UNM	B	0.05%
	RMD	C	0.05%
	NNN	C	0.05%
	TXRH	C	0.05%
	HLT	B	0.05%
	EWBC	D	0.05%
	CMA	B	0.05%
	HRB	C	0.05%
	WSO	C	0.05%
	MSCI	C	0.05%
	JEF	B	0.05%
	BPOP	C	0.04%
	SNV	C	0.04%
	WU	F	0.04%
	AVA	C	0.04%
	SSNC	B	0.04%
	WBS	D	0.04%
	UGI	C	0.04%
	ITT	B	0.04%
	CSL	B	0.04%
	FHB	D	0.04%
	FNB	C	0.04%
	BKH	B	0.04%
	BAH	C	0.04%
	SUI	B	0.04%
	ACI	F	0.04%
	OVV	F	0.04%
	RDN	C	0.04%
	OGN	D	0.04%
	MTG	B	0.04%
	EVR	A	0.04%
	LNC	D	0.04%
	CIVI	F	0.04%
	BRX	B	0.04%
	NWE	B	0.04%
	OMF	D	0.04%
	OWL	C	0.04%
	DTM	B	0.04%
	JXN	A	0.04%
	PNM	B	0.03%
	FCNCA	D	0.03%
	SF	A	0.03%
	TKR	D	0.03%
	COLB	B	0.03%
	SAIC	C	0.03%
	AUB	D	0.03%
	SBAC	C	0.03%
	VCTR	B	0.03%
	EHC	C	0.03%
	MSM	D	0.03%
	R	A	0.03%
	NXST	D	0.03%
	FLS	D	0.03%
	ALSN	B	0.03%
	WSBC	D	0.03%
	VGR	B	0.03%
	OZK	D	0.03%
	CBT	B	0.03%
	DCI	C	0.03%
	AIT	A	0.03%
	GAP	F	0.03%
	OFG	C	0.03%
	ASB	D	0.03%
	WEN	C	0.03%
	BANR	B	0.03%
	KBH	A	0.03%
	REYN	C	0.03%
	SFNC	B	0.03%
	WLK	D	0.03%
	SR	B	0.03%
	AROC	D	0.03%
	ACT	B	0.03%
	MLI	A	0.03%
	MC	B	0.03%
	SCI	B	0.03%
	JWN	C	0.03%
	ALE	B	0.03%
	WAL	B	0.03%
	LECO	F	0.03%
	VLY	C	0.03%
	OGS	B	0.03%
	FBP	C	0.03%
	PFS	B	0.03%
	HOMB	B	0.03%
	CFR	C	0.03%
	GPK	B	0.03%
	PB	B	0.03%
	FIBK	B	0.03%
	CCOI	C	0.03%
	PRI	B	0.03%
	POR	C	0.03%
	SON	C	0.03%
	ZION	D	0.03%
	AFG	B	0.03%
	TFSL	C	0.03%
	PATK	B	0.03%
	FLO	C	0.03%
	FAF	B	0.03%
	AWR	B	0.03%
	HEI	B	0.03%
	MTN	D	0.03%
	PAG	D	0.03%
	OC	D	0.03%
	CHK	D	0.03%
	HLI	B	0.03%
	DINO	F	0.03%
	NFG	B	0.03%
	UI	B	0.03%
	RPM	B	0.03%
	WTRG	D	0.03%
	SEIC	C	0.02%
	SSD	D	0.02%
	SHOO	B	0.02%
	CCK	A	0.02%
	NSP	F	0.02%
	BYD	C	0.02%
	HTH	C	0.02%
	TTEK	C	0.02%
	AEO	F	0.02%
	IBTX	B	0.02%
	ACM	B	0.02%
	BCO	B	0.02%
	KFY	B	0.02%
	CAKE	C	0.02%
	LEA	F	0.02%
	M	F	0.02%
	MATX	B	0.02%
	BC	C	0.02%
	SEM	D	0.02%
	HAFC	C	0.02%
	AL	D	0.02%
	WSFS	D	0.02%
	WAFD	C	0.02%
	BKE	B	0.02%
	PFSI	C	0.02%
	RHI	D	0.02%
	BRKL	C	0.02%
	WMS	D	0.02%
	IDCC	B	0.02%
	BERY	B	0.02%
	CMC	D	0.02%
	SPB	C	0.02%
	FR	B	0.02%
	MWA	B	0.02%
	MGY	C	0.02%
	NBHC	D	0.02%
	UBSI	B	0.02%
	TKO	B	0.02%
	OTTR	F	0.02%
	MRTN	D	0.02%
	ARMK	B	0.02%
	PINC	C	0.02%
	VRTS	F	0.02%
	TRMK	C	0.02%
	CRC	C	0.02%
	OSK	F	0.02%
	KNTK	B	0.02%
	LPLA	D	0.02%
	GNTX	F	0.02%
	BRC	C	0.02%
	IPAR	F	0.02%
	FCF	C	0.02%
	NYT	C	0.02%
	CWEN	C	0.02%
	EXP	B	0.02%
	ADTN	D	0.02%
	OCFC	B	0.02%
	CVBF	D	0.02%
	PEBO	C	0.02%
	XRAY	D	0.02%
	VIRT	C	0.02%
	FFBC	D	0.02%
	CVI	F	0.02%
	RHP	C	0.02%
	RRX	C	0.02%
	LPX	B	0.02%
	WWD	D	0.02%
	IDA	C	0.02%
	KMT	B	0.02%
	HNI	C	0.02%
	STC	B	0.02%
	BNL	B	0.02%
	FULT	D	0.02%
	HUN	D	0.02%
	NEU	D	0.02%
	GBCI	B	0.02%
	CBU	C	0.02%
	THO	D	0.02%
	TPG	B	0.02%
	NSA	B	0.02%
	IBOC	D	0.02%
	SLM	D	0.02%
	CADE	C	0.02%
	SBRA	C	0.02%
	PRGS	C	0.02%
	SSB	B	0.02%
	LCII	C	0.02%
	CBSH	C	0.02%
	ONB	C	0.02%
	FCPT	C	0.02%
	TRN	D	0.02%
	UFPI	C	0.02%
	EPR	B	0.02%
	ESI	D	0.02%
	TW	B	0.02%
	LANC	D	0.02%
	RUSHA	C	0.02%
	VOYA	B	0.02%
	AWI	B	0.02%
	LSTR	D	0.02%
	AMH	C	0.02%
	TRST	C	0.02%
	CCS	B	0.02%
	NOG	D	0.02%
	TMP	C	0.02%
	TNL	D	0.02%
	KTB	B	0.02%
	QCRH	B	0.02%
	SWX	C	0.02%
	CASY	D	0.02%
	MUR	F	0.02%
	WH	B	0.02%
	AVNT	B	0.02%
	RGLD	C	0.02%
	CRI	D	0.02%
	TTC	D	0.02%
	FBMS	B	0.02%
	GEF	D	0.02%
	BUSE	C	0.02%
	GTY	B	0.02%
	ELS	C	0.02%
	SASR	B	0.02%
	STBA	B	0.02%
	STAG	C	0.02%
	CNO	B	0.02%
	ATR	B	0.02%
	CATY	C	0.02%
	HLNE	B	0.02%
	BWXT	D	0.02%
	GGG	C	0.02%
	MDU	C	0.02%
	NJR	B	0.02%
	BANF	B	0.02%
	BOKF	B	0.02%
	AVT	C	0.02%
	PII	D	0.02%
	TPL	B	0.02%
	CNS	B	0.02%
	VRT	C	0.02%
	SMG	C	0.02%
	NUS	F	0.01%
	CHCO	B	0.01%
	CABO	F	0.01%
	IIPR	B	0.01%
	HI	F	0.01%
	BGS	D	0.01%
	WMG	D	0.01%
	IRDM	D	0.01%
	DAN	F	0.01%
	UWMC	D	0.01%
	GBX	C	0.01%
	DK	F	0.01%
	LZB	C	0.01%
	BMI	A	0.01%
	AESI	C	0.01%
	PRDO	D	0.01%
	TEX	F	0.01%
	DLB	D	0.01%
	IBP	D	0.01%
	WINA	D	0.01%
	TOL	B	0.01%
	POWL	C	0.01%
	SCL	D	0.01%
	COKE	C	0.01%
	HEES	D	0.01%
	DLX	D	0.01%
	PBI	D	0.01%
	LXP	B	0.01%
	DIN	F	0.01%
	ENS	D	0.01%
	VSH	F	0.01%
	GES	F	0.01%
	WWW	B	0.01%
	PCH	C	0.01%
	AAON	B	0.01%
	WOR	D	0.01%
	MLKN	D	0.01%
	KNSL	C	0.01%
	MUSA	D	0.01%
	CHH	C	0.01%
	AGM	D	0.01%
	SFBS	B	0.01%
	OXM	F	0.01%
	SCS	D	0.01%
	BTU	D	0.01%
	WCC	D	0.01%
	MCRI	C	0.01%
	HXL	F	0.01%
	CRGY	D	0.01%
	KALU	F	0.01%
	ORA	C	0.01%
	FIX	B	0.01%
	CHE	C	0.01%
	CWEN	C	0.01%
	ENR	D	0.01%
	KRO	D	0.01%
	COLD	D	0.01%
	GRNT	D	0.01%
	BRKR	D	0.01%
	SLGN	B	0.01%
	LBRT	D	0.01%
	MTDR	F	0.01%
	X	F	0.01%
	EME	B	0.01%
	HMN	D	0.01%
	BLMN	F	0.01%
	PTVE	D	0.01%
	BOH	D	0.01%
	HP	F	0.01%
	RLI	B	0.01%
	AMSF	C	0.01%
	LEVI	C	0.01%
	KRC	B	0.01%
	BHE	D	0.01%
	COLM	C	0.01%
	UCBI	B	0.01%
	CC	F	0.01%
	ASH	D	0.01%
	SSBK	C	0.01%
	JBT	D	0.01%
	JJSF	C	0.01%
	EGBN	C	0.01%
	CNXC	F	0.01%
	MORN	C	0.01%
	VMI	D	0.01%
	AZZ	D	0.01%
	PNFP	B	0.01%
	HOG	C	0.01%
	SAFT	D	0.01%
	CACC	F	0.01%
	SIGI	D	0.01%
	WERN	D	0.01%
	CFFN	D	0.01%
	PFBC	D	0.01%
	UVV	D	0.01%
	WTFC	B	0.01%
	FG	D	0.01%
	OLED	C	0.01%
	NAVI	C	0.01%
	LEG	D	0.01%
	RRR	D	0.01%
	CHDN	C	0.01%
	AMKR	F	0.01%
	EGP	B	0.01%
	KBR	D	0.01%
	ABM	D	0.01%
	SRCE	C	0.01%
	WMK	C	0.01%
	PBF	F	0.01%
	CRS	B	0.01%
	EBC	B	0.01%
	CHX	F	0.01%
	SM	F	0.01%
	XRX	D	0.01%
	PDCO	F	0.01%
	PZZA	D	0.01%
	WDFC	C	0.01%
	KWR	D	0.01%
	MSBI	D	0.01%
	SNDR	B	0.01%
	EDR	A	0.01%
	RGP	F	0.01%
	FFIN	B	0.01%
	PHIN	B	0.01%
	TECH	C	0.01%
	VAC	F	0.01%
	DNB	C	0.01%
	PRK	C	0.01%
	TDS	C	0.01%
	UTZ	C	0.01%
	MMS	C	0.01%
	BKU	C	0.01%
	ZWS	A	0.01%
	CPK	B	0.01%
	GATX	D	0.01%
	WGO	D	0.01%
	SEB	D	0.01%
	GOLF	D	0.01%
	HTLF	B	0.01%
	MSA	D	0.01%
	STRA	F	0.01%
	IBKR	B	0.01%
	STEP	B	0.01%
	OLN	D	0.01%
	UMBF	B	0.01%
	KMPR	D	0.01%
	LAD	D	0.01%
	SYBT	A	0.01%
	HRI	D	0.01%
	FRME	D	0.01%
	MAN	C	0.01%
	SLG	B	0.01%
	MKSI	F	0.01%
	SKT	B	0.01%
	MGEE	B	0.01%
	KLG	C	0.01%
	RRC	D	0.01%
	EXPO	A	0.01%
	LFUS	C	0.01%
	BANC	B	0.01%
	SLVM	B	0.01%
	APOG	B	0.01%
	SXT	C	0.01%
	EPC	F	0.01%
	TPX	C	0.01%
	HWC	D	0.01%
	PR	F	0.01%
	ADC	C	0.01%
	KSS	F	0.01%
	BSY	D	0.01%
	THG	B	0.01%
	AGCO	D	0.01%
	WD	A	0.01%
	WHD	C	0.01%
	IOSP	D	0.01%
	UTL	C	0.01%
	SEE	D	0.01%
	SNX	D	0.01%
	UVSP	B	0.01%
	NOV	F	0.01%
	PTEN	F	0.01%
	RNST	D	0.01%
	MCY	D	0.01%
	MAC	B	0.0%
	POWI	F	0.0%
	KW	C	0.0%
	NWS	D	0.0%
	GTN	D	0.0%
	RELL	C	0.0%
	NFE	F	0.0%
	CWH	C	0.0%

DTD Underweight 122 Positions Relative to QVML

	Symbol	Grade	Weight
	AMZN	C	-3.79%
	BRK.A	C	-1.95%
	NFLX	B	-0.69%
	ADBE	F	-0.6%
	AMD	D	-0.59%
	LIN	B	-0.53%
	ACN	C	-0.51%
	VZ	B	-0.45%
	NEE	C	-0.44%
	NOW	B	-0.39%
	ISRG	B	-0.38%
	T	C	-0.37%
	ETN	C	-0.29%
	UBER	C	-0.29%
	VRTX	D	-0.28%
	MDT	C	-0.28%
	BSX	B	-0.28%
	CB	B	-0.28%
	REGN	C	-0.27%
	PANW	D	-0.24%
	ANET	B	-0.2%
	TT	B	-0.19%
	INTC	F	-0.19%
	PYPL	B	-0.18%
	CMG	C	-0.18%
	SNPS	D	-0.17%
	CDNS	D	-0.16%
	FCX	D	-0.15%
	GEV	B	-0.14%
	SLB	F	-0.14%
	NXPI	F	-0.13%
	TFC	C	-0.13%
	ABNB	D	-0.12%
	ADSK	C	-0.12%
	TEL	D	-0.11%
	JCI	B	-0.11%
	EW	F	-0.1%
	F	F	-0.1%
	CTVA	B	-0.1%
	CNC	D	-0.1%
	ACGL	C	-0.1%
	CPRT	D	-0.1%
	IQV	C	-0.1%
	RCL	B	-0.09%
	MNST	D	-0.09%
	IT	B	-0.09%
	KMI	B	-0.09%
	IDXX	C	-0.09%
	CBRE	A	-0.08%
	CHTR	D	-0.08%
	GRMN	D	-0.07%
	ON	D	-0.07%
	NVR	B	-0.07%
	WTW	C	-0.07%
	LULU	D	-0.07%
	CSGP	D	-0.07%
	STE	C	-0.06%
	CPAY	B	-0.06%
	LYB	D	-0.06%
	DECK	C	-0.06%
	TYL	C	-0.06%
	AXON	B	-0.06%
	IFF	B	-0.06%
	KEYS	C	-0.06%
	DVN	F	-0.06%
	ANSS	D	-0.06%
	WDC	D	-0.05%
	HOLX	B	-0.05%
	DG	F	-0.05%
	PTC	D	-0.05%
	APTV	D	-0.05%
	MOH	D	-0.05%
	TDY	B	-0.05%
	BAX	C	-0.05%
	MRNA	F	-0.05%
	SMCI	F	-0.05%
	FSLR	C	-0.05%
	BLDR	C	-0.05%
	CCL	C	-0.04%
	AKAM	D	-0.04%
	DLTR	F	-0.04%
	FOXA	B	-0.04%
	AMCR	B	-0.04%
	EXPE	C	-0.04%
	KEY	B	-0.04%
	DOC	C	-0.04%
	ALGN	D	-0.04%
	UAL	C	-0.04%
	EG	C	-0.04%
	CTRA	D	-0.04%
	ZBRA	B	-0.04%
	WBD	D	-0.04%
	ULTA	D	-0.04%
	CFG	C	-0.04%
	INCY	C	-0.03%
	KMX	D	-0.03%
	EPAM	F	-0.03%
	TFX	C	-0.03%
	ALLE	B	-0.03%
	FFIV	B	-0.03%
	BXP	B	-0.03%
	LYV	B	-0.03%
	TRMB	C	-0.03%
	BG	D	-0.03%
	PNR	B	-0.03%
	WBA	F	-0.02%
	AAL	D	-0.02%
	BIO	C	-0.02%
	IVZ	B	-0.02%
	NCLH	C	-0.02%
	CZR	C	-0.02%
	FMC	C	-0.02%
	DVA	B	-0.02%
	MHK	C	-0.02%
	GNRC	D	-0.02%
	HSIC	C	-0.02%
	DAY	D	-0.02%
	CRL	F	-0.02%
	SOLV	C	-0.02%
	QRVO	F	-0.02%
	MGM	F	-0.02%
	PARA	F	-0.01%

DTD: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Asset Management Oil & Gas E&P Utilities - Regulated Electric Business Services Specialty Chemicals Capital Markets Insurance - Property & Casualty Packaged Foods Packaging & Containers Credit Services REIT - Retail Restaurants Utilities - Diversified Building Materials Semiconductors Aerospace & Defense Insurance - Life REIT - Industrial

Keywords: S&P 500 Bank Banking Natural Gas Insurance Nasdaq 100 Deposit Products Electricity Real Estate Investment Trust Chemical Mining Real Estate Loans Electronics Commercial Banking Aerospace Computing Investment Management Commercial Bank Insurance Products Plastic

QVML: Top Represented Industries & Keywords

Industries: Diversified Industrials Utilities - Regulated Electric Software - Application Semiconductors Business Services Oil & Gas E&P Asset Management Banks - Regional - US Packaged Foods Capital Markets Diagnostics & Research Aerospace & Defense Credit Services Health Care Plans Information Technology Services Insurance - Property & Casualty Medical Devices Medical Instruments & Supplies REIT - Residential Specialty Chemicals

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