EQAL vs. QDEF ETF Comparison

Comparison of PowerShares Russell 1000 Equal Weight Portfolio (EQAL) to FlexShares Quality Dividend Defensive Index Fund (QDEF)

EQAL

PowerShares Russell 1000 Equal Weight Portfolio

EQAL Description

The investment seeks investment results that generally correspond (before fees and expenses) to the price and yield of the Russell 1000® Equal Weight Index. The fund generally will invest at least 90% of its total assets in common stocks that comprise the underlying index. Strictly in accordance with its guidelines and mandated procedures, Frank Russell Company (the "Index Provider") compiles and maintains the underlying index, which is composed of all of the securities in the Russell 1000® Index (the "Russell 1000") "equally weighted."

Grade (RS Rating)

Last Trade

$48.68

Average Daily Volume

21,039

Number of Holdings ^*

964

* may have additional holdings in another (foreign) market

QDEF

FlexShares Quality Dividend Defensive Index Fund

QDEF Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Quality Dividend Defensive IndexSM. The fund generally will invest under normal circumstances at least 80% of its total assets in the securities of the underlying index. The underlying index is designed to provide exposure to a high-quality, income-oriented portfolio of U.S. equity securities, with an emphasis on long-term capital growth and a targeted overall volatility that is lower than that of the Northern Trust 1250 IndexSM. It may also invest up to 20% of its assets in cash and cash equivalents.

Grade (RS Rating)

Last Trade

$71.13

Average Daily Volume

6,642

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

Performance

Period	EQAL	QDEF
30 Days	4.22%	3.01%
60 Days	10.48%	9.72%
90 Days	9.91%	8.06%
12 Months	28.06%	35.58%

114 Overlapping Holdings

Symbol	Grade	Weight in EQAL	Weight in QDEF	Overlap
AAPL	C	0.07%	6.09%	0.07%
ABBV	C	0.08%	3.06%	0.08%
ADP	A	0.05%	1.06%	0.05%
AFL	A	0.06%	0.63%	0.06%
AIZ	B	0.07%	0.54%	0.07%
AMT	D	0.14%	0.99%	0.14%
AVB	C	0.14%	0.18%	0.14%
AVGO	B	0.07%	0.88%	0.07%
AVY	D	0.25%	0.53%	0.25%
BAC	B	0.06%	0.02%	0.02%
BAH	C	0.05%	0.13%	0.05%
BK	A	0.07%	0.62%	0.07%
BMY	A	0.09%	0.41%	0.09%
BPOP	D	0.06%	0.48%	0.06%
BSY	D	0.07%	0.39%	0.07%
BWXT	A	0.05%	0.57%	0.05%
CAH	B	0.08%	0.16%	0.08%
CFR	B	0.07%	0.47%	0.07%
CHE	D	0.09%	0.42%	0.09%
CI	D	0.08%	0.9%	0.08%
CME	A	0.07%	0.72%	0.07%
COST	C	0.05%	0.23%	0.05%
CPT	C	0.14%	0.52%	0.14%
CSCO	A	0.55%	0.56%	0.55%
CSL	A	0.05%	0.53%	0.05%
CUBE	C	0.14%	0.45%	0.14%
D	A	0.2%	0.58%	0.2%
DDS	D	0.06%	0.11%	0.06%
DELL	C	0.07%	0.4%	0.07%
DOX	B	0.07%	0.5%	0.07%
DPZ	D	0.06%	0.41%	0.06%
DUK	C	0.2%	0.82%	0.2%
EA	D	0.05%	0.53%	0.05%
EBAY	A	0.05%	0.43%	0.05%
ED	C	0.2%	0.55%	0.2%
EME	B	0.05%	0.55%	0.05%
EQR	C	0.13%	0.54%	0.13%
ESS	D	0.13%	0.53%	0.13%
EVRG	C	0.21%	0.4%	0.21%
EXC	C	0.21%	0.42%	0.21%
EXPD	D	0.04%	0.46%	0.04%
FAST	C	0.25%	0.51%	0.25%
FIS	A	0.05%	0.57%	0.05%
GILD	A	0.08%	0.95%	0.08%
GIS	C	0.16%	0.53%	0.16%
GOOGL	B	0.07%	1.31%	0.07%
HD	A	0.06%	3.13%	0.06%
HRB	C	0.05%	0.49%	0.05%
IBM	A	0.07%	1.8%	0.07%
INTU	F	0.06%	1.13%	0.06%
IPG	D	0.05%	0.5%	0.05%
IRDM	C	0.61%	0.56%	0.56%
ITW	C	0.05%	0.72%	0.05%
JNJ	D	0.08%	3.17%	0.08%
JPM	C	0.06%	0.63%	0.06%
K	B	0.16%	0.53%	0.16%
KLAC	B	0.07%	0.93%	0.07%
KMB	D	0.16%	0.56%	0.16%
KO	C	0.16%	0.76%	0.16%
LDOS	A	0.07%	0.57%	0.07%
LMT	A	0.05%	1.19%	0.05%
LOW	C	0.06%	0.48%	0.06%
LSTR	F	0.05%	0.49%	0.05%
MA	A	0.05%	0.22%	0.05%
MAA	D	0.13%	0.54%	0.13%
MAS	C	0.05%	0.25%	0.05%
MCK	F	0.15%	0.59%	0.15%
MET	A	0.07%	0.53%	0.07%
META	A	0.07%	2.79%	0.07%
MMM	C	0.05%	0.69%	0.05%
MO	D	0.16%	0.8%	0.16%
MRK	F	0.08%	2.66%	0.08%
MSFT	D	0.06%	4.96%	0.06%
MSI	A	0.52%	0.68%	0.52%
MSM	D	0.05%	0.37%	0.05%
NNN	C	0.14%	0.25%	0.14%
NSA	D	0.14%	0.53%	0.14%
NVDA	B	0.06%	4.84%	0.06%
OGE	C	0.21%	0.47%	0.21%
OHI	C	0.14%	0.54%	0.14%
OMF	D	0.07%	0.42%	0.07%
ORI	A	0.06%	0.52%	0.06%
OTIS	A	0.05%	0.54%	0.05%
PAYX	B	0.05%	0.62%	0.05%
PEG	A	0.21%	0.27%	0.21%
PG	D	0.16%	2.97%	0.16%
PM	D	0.16%	1.58%	0.16%
PNW	C	0.2%	0.53%	0.2%
PPL	C	0.21%	0.55%	0.21%
PSA	C	0.14%	0.65%	0.14%
QCOM	D	0.06%	1.69%	0.06%
RMD	C	0.08%	0.56%	0.08%
ROL	C	0.05%	0.13%	0.05%
SAIC	A	0.06%	0.46%	0.06%
SBUX	B	0.05%	0.97%	0.05%
SCCO	B	0.29%	0.19%	0.19%
STWD	C	0.06%	0.33%	0.06%
SWKS	F	0.06%	0.45%	0.06%
T	B	0.52%	0.77%	0.52%
TJX	D	0.05%	0.97%	0.05%
TMUS	A	0.52%	1.0%	0.52%
UNM	A	0.07%	0.54%	0.07%
V	B	0.04%	0.34%	0.04%
VIRT	B	0.06%	0.5%	0.06%
VRSK	D	0.04%	0.54%	0.04%
VRT	B	0.07%	0.37%	0.07%
VZ	C	0.53%	0.72%	0.53%
WEC	B	0.2%	0.29%	0.2%
WMT	A	0.05%	0.12%	0.05%
WSM	C	0.06%	0.48%	0.06%
WTW	C	0.07%	0.56%	0.07%
WU	D	0.04%	0.49%	0.04%
XOM	A	0.21%	0.5%	0.21%
ZTS	C	0.08%	0.12%	0.08%

EQAL Overweight 850 Positions Relative to QDEF

Symbol	Grade	Weight
LBRDK	C	0.66%
LITE	A	0.61%
CIEN	A	0.58%
UI	B	0.56%
ANET	A	0.55%
CMCSA	B	0.54%
JNPR	C	0.52%
FYBR	C	0.51%
ROKU	C	0.51%
CHTR	D	0.49%
MP	C	0.32%
SMG	C	0.31%
VST	A	0.3%
FCX	B	0.3%
AA	B	0.3%
CC	D	0.29%
STLD	C	0.28%
CE	D	0.28%
OLN	D	0.28%
CLF	D	0.27%
EMN	C	0.27%
CEG	A	0.27%
HUN	B	0.27%
RS	D	0.26%
FMC	C	0.26%
ESI	C	0.26%
NUE	D	0.26%
APD	C	0.26%
MOS	F	0.26%
TKR	B	0.26%
ALB	D	0.26%
CF	A	0.26%
WLK	C	0.26%
LIN	C	0.25%
ECL	C	0.25%
NEM	C	0.25%
IP	C	0.25%
IFF	D	0.25%
X	F	0.25%
LYB	B	0.25%
ASH	F	0.25%
RBC	C	0.25%
NEU	F	0.24%
RGLD	C	0.24%
HXL	F	0.24%
EQT	C	0.23%
CHK	C	0.23%
NRG	A	0.23%
SWN	D	0.23%
RRC	D	0.22%
ETR	A	0.22%
KMI	A	0.22%
SLB	D	0.22%
FTI	B	0.22%
CWEN	C	0.22%
AR	C	0.22%
FSLR	C	0.22%
ENPH	F	0.22%
BKR	B	0.22%
TPL	A	0.22%
AES	C	0.22%
NEE	C	0.21%
MPC	D	0.21%
LNG	A	0.21%
VLO	F	0.21%
CMS	A	0.21%
COP	D	0.21%
SO	A	0.21%
SRE	C	0.21%
MRO	B	0.21%
NI	A	0.21%
ATO	A	0.21%
HAL	D	0.21%
DTE	B	0.21%
DINO	F	0.21%
NFG	A	0.21%
EIX	C	0.21%
PR	D	0.21%
AM	A	0.21%
DTM	A	0.21%
LNT	B	0.21%
APA	F	0.21%
EOG	B	0.21%
AEE	A	0.21%
CTRA	D	0.21%
PSX	D	0.21%
CVX	B	0.21%
HES	D	0.21%
UGI	C	0.21%
CNP	B	0.21%
RSG	D	0.2%
DVN	F	0.2%
CIVI	F	0.2%
AWK	D	0.2%
CHRD	F	0.2%
SRCL	B	0.2%
WM	B	0.2%
AEP	C	0.2%
OVV	D	0.2%
MTDR	D	0.2%
OKE	A	0.2%
FANG	D	0.2%
NOV	F	0.2%
FE	C	0.2%
ES	D	0.2%
AGR	C	0.2%
TRGP	A	0.2%
OXY	D	0.2%
WMB	A	0.2%
WTRG	D	0.2%
IDA	D	0.2%
CLH	B	0.2%
PCG	C	0.2%
XEL	C	0.2%
WFRD	F	0.19%
GO	F	0.18%
DAR	F	0.18%
NFE	F	0.18%
CAG	D	0.17%
KR	C	0.17%
WBA	F	0.17%
MNST	D	0.17%
STZ	D	0.17%
BRBR	A	0.17%
KHC	F	0.17%
SPB	C	0.17%
LW	D	0.17%
SAM	D	0.17%
SJM	D	0.17%
CTVA	A	0.17%
CVS	D	0.17%
PPC	C	0.17%
TAP	D	0.17%
PFGC	A	0.17%
FRPT	A	0.16%
CASY	D	0.16%
TSN	D	0.16%
KRC	C	0.16%
PEP	F	0.16%
ACI	F	0.16%
HSY	D	0.16%
CL	D	0.16%
REYN	D	0.16%
CELH	F	0.16%
CLX	C	0.16%
HRL	F	0.16%
CPB	D	0.16%
MDLZ	D	0.16%
MKC	C	0.16%
ADM	F	0.16%
Z	C	0.16%
KVUE	C	0.16%
CHD	D	0.16%
SEB	F	0.16%
KDP	C	0.16%
BG	F	0.16%
POST	C	0.16%
USFD	C	0.16%
SYY	D	0.16%
FLO	D	0.16%
INGR	B	0.16%
COKE	C	0.16%
LAMR	C	0.15%
CBRE	C	0.15%
HHH	C	0.15%
HST	D	0.15%
JLL	C	0.15%
MPW	C	0.15%
SEG	F	0.15%
WY	C	0.15%
PK	D	0.15%
VNO	B	0.15%
REG	C	0.14%
CSGP	F	0.14%
PLD	D	0.14%
UDR	C	0.14%
INVH	D	0.14%
KIM	C	0.14%
GLPI	C	0.14%
CCI	D	0.14%
VTR	C	0.14%
FRT	D	0.14%
ADC	C	0.14%
VICI	C	0.14%
WELL	C	0.14%
COLD	D	0.14%
ARE	D	0.14%
SBAC	C	0.14%
BRX	C	0.14%
STAG	D	0.14%
EXR	D	0.14%
IRM	B	0.14%
DLR	C	0.14%
O	C	0.14%
CUZ	C	0.14%
FR	D	0.14%
DOC	C	0.14%
WPC	C	0.14%
HIW	C	0.14%
EGP	D	0.14%
EQIX	C	0.14%
EPR	C	0.14%
REXR	D	0.14%
RYN	C	0.14%
SPG	A	0.14%
BXP	B	0.14%
SUI	D	0.13%
ELS	D	0.13%
AMH	D	0.13%
MASI	B	0.1%
WST	D	0.09%
TMO	D	0.09%
HSIC	D	0.09%
CTLT	A	0.09%
ALNY	C	0.09%
AZTA	F	0.09%
DHR	D	0.09%
A	B	0.09%
TECH	D	0.09%
EHC	C	0.09%
BRKR	D	0.09%
NVST	D	0.09%
CERT	F	0.09%
GEHC	C	0.09%
UTHR	C	0.09%
WAT	B	0.09%
ALGN	D	0.09%
DOCS	A	0.09%
ITCI	D	0.08%
COHR	B	0.08%
ELV	F	0.08%
APP	A	0.08%
VRTX	D	0.08%
RARE	D	0.08%
MRNA	F	0.08%
LLY	D	0.08%
OGN	F	0.08%
LSCC	D	0.08%
NBIX	F	0.08%
MU	D	0.08%
INTC	D	0.08%
IONS	F	0.08%
PRGO	F	0.08%
PEN	D	0.08%
VEEV	C	0.08%
SRPT	F	0.08%
MEDP	F	0.08%
FTRE	F	0.08%
MOH	F	0.08%
ISRG	C	0.08%
STE	D	0.08%
WOLF	F	0.08%
AVTR	D	0.08%
EW	F	0.08%
DXCM	F	0.08%
EXAS	C	0.08%
VKTX	C	0.08%
IDXX	D	0.08%
VTRS	D	0.08%
BIIB	F	0.08%
SOLV	C	0.08%
HUM	F	0.08%
IQV	F	0.08%
EXEL	B	0.08%
BAX	D	0.08%
UNH	B	0.08%
AMGN	D	0.08%
MDT	C	0.08%
UHS	D	0.08%
INSP	C	0.08%
ELAN	D	0.08%
CNC	F	0.08%
PFE	D	0.08%
DGX	D	0.08%
SYK	C	0.08%
GMED	B	0.08%
RCM	B	0.08%
ABT	C	0.08%
NTRA	A	0.08%
AMED	D	0.08%
HOLX	D	0.08%
INCY	B	0.08%
TXG	F	0.08%
PODD	C	0.08%
ENOV	F	0.08%
RPRX	D	0.08%
XRAY	D	0.08%
SHC	C	0.08%
TFX	C	0.08%
CRL	F	0.08%
BDX	C	0.08%
QGEN	F	0.08%
RGEN	F	0.08%
ZBH	F	0.08%
HCA	C	0.08%
ILMN	B	0.08%
BIO	B	0.08%
BSX	A	0.08%
THC	D	0.08%
DVA	C	0.08%
MSTR	B	0.08%
JAZZ	F	0.08%
PINC	F	0.08%
CDW	D	0.07%
MSCI	B	0.07%
RLI	A	0.07%
CAR	D	0.07%
FNF	C	0.07%
PNC	C	0.07%
MTG	A	0.07%
HBAN	B	0.07%
KEY	B	0.07%
FTNT	A	0.07%
GS	B	0.07%
CB	A	0.07%
BOKF	B	0.07%
APLS	F	0.07%
NTAP	D	0.07%
DDOG	B	0.07%
KBR	A	0.07%
RJF	B	0.07%
PFG	A	0.07%
DBX	C	0.07%
DFS	A	0.07%
EPAM	F	0.07%
TOST	B	0.07%
ZM	B	0.07%
ORCL	A	0.07%
RYAN	A	0.07%
APPF	C	0.07%
ON	F	0.07%
ADI	B	0.07%
DT	B	0.07%
ESTC	F	0.07%
GWRE	A	0.07%
PRI	A	0.07%
HLI	A	0.07%
SNPS	F	0.07%
TER	C	0.07%
FITB	C	0.07%
SCHW	D	0.07%
NTRS	B	0.07%
CNA	D	0.07%
MORN	B	0.07%
TROW	D	0.07%
HOOD	B	0.07%
CMA	C	0.07%
W	C	0.07%
PLTR	A	0.07%
PNFP	B	0.07%
RF	B	0.07%
CRBG	B	0.07%
MCHP	F	0.07%
BRO	A	0.07%
ENTG	D	0.07%
MANH	A	0.07%
AXS	A	0.07%
ACGL	A	0.07%
ACHC	F	0.07%
ADSK	B	0.07%
FFIV	B	0.07%
BEN	F	0.07%
MPWR	B	0.07%
BX	C	0.07%
WYNN	B	0.07%
MTB	A	0.07%
JEF	A	0.07%
HPQ	B	0.07%
BRK.A	B	0.07%
CACC	F	0.07%
TRV	B	0.07%
IT	A	0.07%
PATH	D	0.07%
ALLY	F	0.07%
GLW	C	0.07%
SOFI	C	0.07%
CTSH	B	0.07%
FDS	C	0.07%
NCNO	F	0.07%
EQH	B	0.07%
STT	A	0.07%
BLK	A	0.07%
ZION	D	0.07%
GDDY	B	0.07%
SNX	C	0.07%
LVS	B	0.07%
HIG	A	0.07%
LNC	B	0.07%
MTCH	B	0.07%
AKAM	D	0.07%
TPG	A	0.07%
PEGA	B	0.07%
DLB	D	0.07%
RNG	F	0.07%
PSN	A	0.07%
JHG	A	0.07%
PCOR	D	0.07%
S	C	0.07%
C	B	0.07%
AVT	B	0.07%
WBS	D	0.07%
HUBS	D	0.07%
AMG	B	0.07%
CRM	B	0.07%
WTFC	B	0.07%
ARW	C	0.07%
AMD	C	0.07%
EVR	C	0.07%
WFC	B	0.07%
TDC	D	0.07%
DASH	A	0.07%
SMAR	A	0.07%
IBKR	A	0.07%
WAL	C	0.07%
WDC	C	0.07%
EWBC	B	0.07%
RH	C	0.07%
CACI	A	0.07%
MTSI	B	0.07%
TW	A	0.07%
CLVT	D	0.07%
SF	A	0.07%
SLM	B	0.07%
LRCX	D	0.07%
PINS	D	0.07%
USB	C	0.07%
COLB	C	0.07%
CRWD	D	0.07%
ONTO	B	0.07%
IAC	C	0.07%
AMAT	C	0.07%
ARES	A	0.07%
LPLA	D	0.07%
DOCU	A	0.07%
APO	A	0.07%
OWL	A	0.07%
IVZ	A	0.07%
CG	B	0.07%
RNR	A	0.07%
KKR	A	0.07%
ALGM	F	0.07%
TWLO	B	0.07%
IPGP	D	0.07%
REGN	D	0.07%
JBL	C	0.07%
COIN	F	0.07%
HPE	B	0.07%
U	D	0.07%
ADBE	F	0.06%
NVR	C	0.06%
MSGS	A	0.06%
PHM	C	0.06%
MAT	B	0.06%
BIRK	F	0.06%
POOL	D	0.06%
COTY	F	0.06%
PVH	D	0.06%
VAC	D	0.06%
TTD	A	0.06%
TOL	C	0.06%
YETI	C	0.06%
AN	D	0.06%
KSS	D	0.06%
PLTK	C	0.06%
DIS	D	0.06%
GNTX	D	0.06%
LULU	D	0.06%
DLTR	F	0.06%
TPX	C	0.06%
TXRH	A	0.06%
LEA	F	0.06%
ARMK	C	0.06%
OMC	C	0.06%
BYD	B	0.06%
ABNB	D	0.06%
SITE	D	0.06%
MAR	A	0.06%
MDB	D	0.06%
CCL	C	0.06%
TNL	B	0.06%
GME	D	0.06%
DJT	F	0.06%
MGM	D	0.06%
ETSY	F	0.06%
TPR	B	0.06%
LYFT	D	0.06%
TRIP	D	0.06%
APTV	D	0.06%
MRVL	C	0.06%
NWL	D	0.06%
UBER	C	0.06%
CRUS	D	0.06%
SPOT	C	0.06%
RL	B	0.06%
LYV	A	0.06%
FND	C	0.06%
CPNG	C	0.06%
RCL	B	0.06%
HOG	D	0.06%
TKO	A	0.06%
UAL	A	0.06%
CROX	C	0.06%
EXPE	B	0.06%
HAS	A	0.06%
LEG	D	0.06%
WBD	F	0.06%
TSLA	C	0.06%
VFC	A	0.06%
OLED	B	0.06%
AIG	C	0.06%
CHH	A	0.06%
ROP	D	0.06%
UWMC	D	0.06%
SMCI	F	0.06%
CZR	B	0.06%
NKE	D	0.06%
WHR	C	0.06%
ANSS	D	0.06%
GTLB	D	0.06%
BWA	C	0.06%
THO	C	0.06%
NU	D	0.06%
UHAL	C	0.06%
NCLH	C	0.06%
DAL	C	0.06%
HCP	A	0.06%
WDAY	D	0.06%
XP	F	0.06%
AGO	B	0.06%
MKL	B	0.06%
CBOE	B	0.06%
TEAM	D	0.06%
FOXA	B	0.06%
NTNX	C	0.06%
QRVO	F	0.06%
DV	F	0.06%
INFA	D	0.06%
EL	D	0.06%
BBWI	F	0.06%
L	C	0.06%
KMPR	D	0.06%
TYL	D	0.06%
CBSH	D	0.06%
PRU	B	0.06%
NET	D	0.06%
ICE	A	0.06%
SPGI	C	0.06%
RGA	B	0.06%
BHF	D	0.06%
PTC	B	0.06%
NOW	B	0.06%
TFSL	D	0.06%
EG	A	0.06%
MCO	D	0.06%
WTM	C	0.06%
PB	D	0.06%
DXC	C	0.06%
MKTX	B	0.06%
MMC	D	0.06%
PAYC	D	0.06%
GLOB	D	0.06%
SSNC	C	0.06%
PYCR	D	0.06%
VRSN	C	0.06%
AON	A	0.06%
CVNA	A	0.06%
KD	D	0.06%
OKTA	F	0.06%
NDAQ	C	0.06%
SNOW	F	0.06%
WRB	C	0.06%
SEIC	B	0.06%
SNV	D	0.06%
DUOL	B	0.06%
AJG	C	0.06%
CINF	A	0.06%
AFG	A	0.06%
AMP	A	0.06%
FHB	D	0.06%
UAA	B	0.06%
PGR	B	0.06%
DNB	D	0.06%
BR	B	0.06%
CDNS	D	0.06%
THG	A	0.06%
CFLT	F	0.06%
KNSL	B	0.06%
RKT	D	0.06%
FHN	D	0.06%
FAF	C	0.06%
ALL	A	0.06%
FCNCA	D	0.06%
MS	A	0.06%
PSTG	F	0.06%
DAY	C	0.06%
APH	D	0.06%
FNB	D	0.06%
LAD	C	0.06%
GFS	F	0.06%
ZI	F	0.06%
GL	C	0.06%
TFC	D	0.06%
PANW	B	0.06%
ZS	F	0.06%
BMRN	F	0.06%
AGNC	B	0.06%
TXN	C	0.06%
VOYA	A	0.06%
OZK	D	0.06%
FIVN	F	0.06%
CFG	C	0.06%
AMKR	F	0.06%
DCI	B	0.05%
EFX	D	0.05%
WSO	C	0.05%
CSX	D	0.05%
CTAS	C	0.05%
ROK	D	0.05%
AFRM	C	0.05%
APG	F	0.05%
SPR	D	0.05%
PPG	D	0.05%
LHX	A	0.05%
DOV	C	0.05%
IR	A	0.05%
LNW	F	0.05%
IEX	D	0.05%
KEX	C	0.05%
RHI	D	0.05%
FDX	F	0.05%
JKHY	A	0.05%
XPO	F	0.05%
G	A	0.05%
HII	F	0.05%
VMI	B	0.05%
SQ	D	0.05%
FLS	A	0.05%
TDG	A	0.05%
VSTS	D	0.05%
NOC	B	0.05%
SNA	C	0.05%
CPAY	A	0.05%
WWD	C	0.05%
GPK	D	0.05%
COF	A	0.05%
MKSI	F	0.05%
FI	A	0.05%
MSA	F	0.05%
SHW	C	0.05%
PWR	A	0.05%
AXTA	C	0.05%
XYL	C	0.05%
FCN	C	0.05%
AXON	A	0.05%
FTV	C	0.05%
UNP	F	0.05%
MDU	C	0.05%
EEFT	F	0.05%
PCAR	D	0.05%
FICO	C	0.05%
ALLE	A	0.05%
LCID	F	0.05%
SAIA	D	0.05%
ATR	A	0.05%
GXO	D	0.05%
AOS	C	0.05%
GTES	C	0.05%
DE	C	0.05%
NSC	C	0.05%
VLTO	A	0.05%
CHDN	C	0.05%
AYI	A	0.05%
SNDR	D	0.05%
CR	A	0.05%
TTC	F	0.05%
GGG	C	0.05%
VNT	F	0.05%
UPS	D	0.05%
SYF	A	0.05%
TRMB	B	0.05%
MLM	F	0.05%
TTEK	A	0.05%
RPM	A	0.05%
CCK	C	0.05%
CGNX	F	0.05%
ESAB	C	0.05%
JBHT	D	0.05%
HWM	A	0.05%
LII	C	0.05%
CNH	C	0.05%
NWSA	D	0.05%
BALL	C	0.05%
TTWO	D	0.05%
MHK	C	0.05%
TRU	C	0.05%
TREX	D	0.05%
VMC	D	0.05%
GWW	B	0.05%
SSD	B	0.05%
DD	C	0.05%
BILL	D	0.05%
OLLI	C	0.05%
MTZ	A	0.05%
GE	B	0.05%
GNRC	B	0.05%
ODFL	F	0.05%
MIDD	D	0.05%
CARR	A	0.05%
PNR	C	0.05%
WAB	A	0.05%
NDSN	C	0.05%
GPC	D	0.05%
BERY	C	0.05%
JCI	C	0.05%
TDY	A	0.05%
AL	D	0.05%
MTD	C	0.05%
BROS	F	0.05%
PH	A	0.05%
EMR	B	0.05%
EXP	C	0.05%
MTN	D	0.05%
OC	C	0.05%
TT	A	0.05%
ACN	B	0.05%
LFUS	C	0.05%
KNX	D	0.05%
COLM	B	0.05%
ETN	B	0.05%
ST	F	0.05%
AMZN	C	0.05%
BURL	C	0.05%
WING	C	0.05%
RTX	A	0.05%
AWI	A	0.05%
HEI	C	0.05%
BC	C	0.05%
AMCR	C	0.05%
HUBB	A	0.05%
ITT	C	0.05%
TSCO	A	0.05%
RBLX	D	0.05%
LECO	D	0.05%
DOW	B	0.05%
CPRT	B	0.05%
HAYW	C	0.05%
CNXC	F	0.05%
NVT	C	0.05%
ACM	A	0.05%
RBA	D	0.05%
AZEK	D	0.05%
PKG	B	0.05%
AGCO	D	0.05%
AAL	D	0.05%
ROST	D	0.05%
WCC	D	0.05%
SLGN	B	0.05%
SEE	C	0.05%
ELF	F	0.05%
BLDR	C	0.05%
CRI	D	0.05%
BLD	D	0.05%
PYPL	A	0.05%
KEYS	B	0.05%
WMS	D	0.05%
CMI	A	0.05%
J	F	0.05%
BFAM	C	0.05%
NFLX	A	0.05%
CW	A	0.05%
MUSA	D	0.05%
YUM	C	0.05%
DKS	D	0.05%
AXP	A	0.05%
ALSN	A	0.05%
SWK	C	0.05%
JWN	D	0.05%
SW	C	0.05%
ORLY	A	0.05%
PCTY	C	0.05%
FIVE	D	0.05%
RRX	B	0.05%
LUV	B	0.05%
CAT	A	0.05%
H	B	0.05%
CPRI	C	0.05%
GM	D	0.05%
DHI	C	0.05%
ULTA	D	0.05%
R	C	0.05%
FIX	A	0.05%
F	D	0.05%
URI	C	0.05%
BJ	B	0.05%
LKQ	F	0.05%
CMG	C	0.05%
AAON	A	0.05%
CNM	F	0.05%
LOPE	D	0.05%
NXST	D	0.05%
PARA	F	0.05%
HLT	A	0.05%
ATI	C	0.05%
PAG	D	0.05%
BKNG	B	0.05%
DRI	C	0.05%
GEV	A	0.05%
LEN	C	0.05%
TGT	C	0.05%
AZO	D	0.05%
WEN	B	0.05%
SKX	B	0.05%
KMX	F	0.05%
GRMN	D	0.05%
WEX	C	0.05%
ALK	C	0.05%
QS	F	0.05%
SCI	D	0.05%
M	D	0.05%
MCD	A	0.05%
DECK	B	0.05%
SN	A	0.05%
LPX	C	0.05%
CHRW	C	0.05%
GAP	F	0.05%
VVV	D	0.05%
ZBRA	B	0.05%
PII	D	0.05%
FOUR	A	0.05%
DKNG	C	0.05%
AAP	F	0.05%
DG	F	0.05%
PLNT	B	0.05%
PENN	D	0.05%
NYT	C	0.05%
BBY	C	0.05%
WH	C	0.05%
SON	D	0.04%
HON	C	0.04%
GPN	F	0.04%
WSC	D	0.04%
GD	C	0.04%
RIVN	F	0.04%
OSK	F	0.04%
BA	F	0.04%
ADTN	C	0.04%
TXT	F	0.04%
CXT	F	0.04%
AME	C	0.04%
MAN	D	0.04%

EQAL Underweight 9 Positions Relative to QDEF

Symbol	Grade	Weight
GOOG	B	-1.06%
GEN	A	-0.54%
COR	F	-0.53%
WDFC	B	-0.51%
UMBF	C	-0.51%
CSWI	A	-0.51%
NEP	D	-0.51%
RDN	D	-0.49%
STNG	B	-0.47%