FAB vs. QWLD ETF Comparison

Comparison of First Trust Multi Cap Value AlphaDEX Fund (FAB) to SPDR MSCI World Quality Mix ETF (QWLD)

FAB

First Trust Multi Cap Value AlphaDEX Fund

FAB Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Multi Cap Value Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Composite 1500(R) Value Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$86.82

Average Daily Volume

2,771

Number of Holdings ^*

665

* may have additional holdings in another (foreign) market

QWLD

SPDR MSCI World Quality Mix ETF

QWLD Description

The investment seeks to track the performance of the MSCI World Quality Mix Index. The index captures large-and mid-cap representation across 24 developed countries and aims to represent the performance of value, low volatility, and quality factor strategies. Under normal market conditions, the fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index or in American Depositary Receipts ("ADRs") or Global Depositary Receipts ("GDRs") based on securities comprising the index. It is non-diversified.

Grade (RS Rating)

Last Trade

$127.75

Average Daily Volume

3,758

Number of Holdings ^*

609

* may have additional holdings in another (foreign) market

Performance

Period	FAB	QWLD
30 Days	2.81%	-0.87%
60 Days	5.55%	0.52%
90 Days	6.57%	2.56%
12 Months	24.30%	23.47%

216 Overlapping Holdings

Symbol	Grade	Weight in FAB	Weight in QWLD	Overlap
ACN	B	0.09%	0.65%	0.09%
ADM	F	0.38%	0.05%	0.05%
AEE	B	0.34%	0.08%	0.08%
AEP	D	0.24%	0.07%	0.07%
AFG	A	0.04%	0.02%	0.02%
AFL	C	0.24%	0.12%	0.12%
AGCO	F	0.08%	0.01%	0.01%
AIG	B	0.45%	0.07%	0.07%
AIZ	A	0.09%	0.08%	0.08%
AKAM	F	0.26%	0.13%	0.13%
ALLY	C	0.37%	0.02%	0.02%
APA	F	0.19%	0.03%	0.03%
APD	B	0.09%	0.03%	0.03%
APTV	F	0.34%	0.01%	0.01%
ARE	F	0.17%	0.01%	0.01%
ATO	B	0.35%	0.01%	0.01%
AWK	D	0.08%	0.01%	0.01%
BAC	A	0.29%	0.38%	0.29%
BBWI	C	0.17%	0.0%	0.0%
BBY	C	0.22%	0.05%	0.05%
BEN	C	0.18%	0.01%	0.01%
BG	D	0.39%	0.02%	0.02%
BIIB	F	0.23%	0.01%	0.01%
BKR	B	0.3%	0.02%	0.02%
BLDR	C	0.23%	0.04%	0.04%
C	B	0.38%	0.25%	0.25%
CAG	F	0.07%	0.04%	0.04%
CARR	C	0.16%	0.02%	0.02%
CB	C	0.34%	0.38%	0.34%
CE	F	0.29%	0.01%	0.01%
CF	B	0.34%	0.12%	0.12%
CFG	B	0.39%	0.04%	0.04%
CHRD	D	0.22%	0.01%	0.01%
CHTR	B	0.31%	0.06%	0.06%
CI	D	0.08%	0.17%	0.08%
CINF	A	0.47%	0.02%	0.02%
CLX	A	0.08%	0.01%	0.01%
CMCSA	B	0.46%	0.17%	0.17%
CMI	A	0.09%	0.09%	0.09%
CMS	D	0.16%	0.05%	0.05%
CNC	F	0.29%	0.05%	0.05%
CNP	B	0.35%	0.01%	0.01%
COF	B	0.43%	0.1%	0.1%
COP	C	0.46%	0.1%	0.1%
CPB	F	0.08%	0.09%	0.08%
CRBG	C	0.38%	0.01%	0.01%
CRL	C	0.09%	0.0%	0.0%
CSCO	A	0.19%	1.02%	0.19%
CSX	B	0.18%	0.12%	0.12%
CTRA	B	0.44%	0.02%	0.02%
CTSH	A	0.37%	0.21%	0.21%
CTVA	C	0.08%	0.05%	0.05%
CVS	F	0.39%	0.18%	0.18%
CVX	A	0.46%	0.31%	0.31%
D	D	0.25%	0.06%	0.06%
DAL	A	0.52%	0.01%	0.01%
DD	D	0.08%	0.02%	0.02%
DE	D	0.25%	0.06%	0.06%
DG	F	0.32%	0.01%	0.01%
DGX	B	0.26%	0.1%	0.1%
DHI	D	0.31%	0.11%	0.11%
DINO	D	0.2%	0.05%	0.05%
DIS	B	0.18%	0.08%	0.08%
DOC	C	0.17%	0.01%	0.01%
DOW	F	0.23%	0.04%	0.04%
DRI	B	0.18%	0.03%	0.03%
DTE	D	0.23%	0.02%	0.02%
DUK	D	0.24%	0.36%	0.24%
DVN	F	0.43%	0.03%	0.03%
EBAY	C	0.24%	0.01%	0.01%
ED	D	0.33%	0.36%	0.33%
EG	D	0.4%	0.06%	0.06%
EIX	C	0.16%	0.02%	0.02%
ELV	F	0.14%	0.22%	0.14%
EMN	D	0.12%	0.01%	0.01%
EOG	A	0.45%	0.05%	0.05%
EPAM	B	0.05%	0.02%	0.02%
EQR	C	0.24%	0.01%	0.01%
EQT	B	0.39%	0.01%	0.01%
ETR	B	0.39%	0.03%	0.03%
EVRG	A	0.17%	0.01%	0.01%
EXC	C	0.33%	0.03%	0.03%
EXPD	C	0.08%	0.04%	0.04%
F	C	0.45%	0.09%	0.09%
FANG	C	0.37%	0.09%	0.09%
FBIN	F	0.04%	0.01%	0.01%
FDX	B	0.36%	0.07%	0.07%
FE	D	0.16%	0.01%	0.01%
FITB	A	0.27%	0.03%	0.03%
FNF	C	0.17%	0.01%	0.01%
FOXA	A	0.46%	0.01%	0.01%
FTV	C	0.08%	0.01%	0.01%
GD	C	0.09%	0.19%	0.09%
GIS	F	0.15%	0.33%	0.15%
GM	B	0.54%	0.18%	0.18%
GPC	D	0.15%	0.05%	0.05%
HAL	C	0.44%	0.02%	0.02%
HBAN	A	0.41%	0.03%	0.03%
HD	B	0.08%	0.14%	0.08%
HIG	C	0.34%	0.03%	0.03%
HII	F	0.1%	0.01%	0.01%
HOLX	D	0.08%	0.01%	0.01%
HPE	B	0.46%	0.04%	0.04%
HPQ	B	0.18%	0.04%	0.04%
HRL	F	0.24%	0.09%	0.09%
HSIC	F	0.04%	0.01%	0.01%
HST	D	0.18%	0.01%	0.01%
HSY	F	0.16%	0.16%	0.16%
HUM	D	0.16%	0.16%	0.16%
IEX	B	0.09%	0.03%	0.03%
INTC	C	0.39%	0.1%	0.1%
IP	B	0.3%	0.02%	0.02%
IPG	F	0.08%	0.02%	0.02%
J	D	0.09%	0.01%	0.01%
JBHT	C	0.19%	0.03%	0.03%
JBL	C	0.15%	0.02%	0.02%
JNJ	D	0.17%	1.11%	0.17%
KDP	C	0.15%	0.14%	0.14%
KEY	B	0.2%	0.03%	0.03%
KEYS	C	0.09%	0.18%	0.09%
KHC	F	0.24%	0.21%	0.21%
KIM	A	0.18%	0.01%	0.01%
KMI	B	0.42%	0.04%	0.04%
KNX	C	0.09%	0.01%	0.01%
KR	A	0.36%	0.32%	0.32%
L	A	0.36%	0.17%	0.17%
LEN	D	0.4%	0.09%	0.09%
LH	B	0.09%	0.02%	0.02%
LHX	B	0.09%	0.03%	0.03%
LKQ	C	0.12%	0.01%	0.01%
LMT	D	0.08%	0.43%	0.08%
LNG	B	0.39%	0.05%	0.05%
LNT	C	0.24%	0.03%	0.03%
LOW	B	0.08%	0.07%	0.07%
LUV	B	0.27%	0.0%	0.0%
LYB	F	0.4%	0.03%	0.03%
MAA	C	0.08%	0.01%	0.01%
MAS	D	0.08%	0.01%	0.01%
MDLZ	F	0.08%	0.15%	0.08%
MDT	D	0.08%	0.06%	0.06%
MGM	D	0.04%	0.01%	0.01%
MOH	F	0.17%	0.06%	0.06%
MOS	D	0.18%	0.02%	0.02%
MPC	D	0.41%	0.17%	0.17%
MS	A	0.31%	0.11%	0.11%
MTB	A	0.3%	0.05%	0.05%
NDSN	B	0.08%	0.02%	0.02%
NI	A	0.26%	0.01%	0.01%
NKE	F	0.07%	0.16%	0.07%
NUE	D	0.47%	0.05%	0.05%
NVR	D	0.17%	0.06%	0.06%
NWSA	B	0.19%	0.01%	0.01%
OC	A	0.37%	0.03%	0.03%
ODFL	B	0.1%	0.08%	0.08%
OKE	A	0.2%	0.03%	0.03%
OMC	A	0.09%	0.04%	0.04%
ON	F	0.35%	0.01%	0.01%
OVV	C	0.23%	0.02%	0.02%
OXY	F	0.43%	0.03%	0.03%
PCAR	B	0.5%	0.11%	0.11%
PEP	D	0.08%	0.79%	0.08%
PFG	C	0.08%	0.02%	0.02%
PHM	D	0.4%	0.06%	0.06%
PKG	B	0.19%	0.04%	0.04%
PNC	B	0.19%	0.09%	0.09%
PPG	F	0.17%	0.01%	0.01%
PPL	A	0.25%	0.01%	0.01%
PRU	B	0.18%	0.05%	0.05%
PSX	C	0.42%	0.13%	0.13%
PYPL	A	0.09%	0.04%	0.04%
RF	A	0.28%	0.03%	0.03%
RJF	A	0.22%	0.02%	0.02%
RS	C	0.48%	0.02%	0.02%
SBUX	B	0.08%	0.04%	0.04%
SEIC	A	0.1%	0.02%	0.02%
SJM	F	0.12%	0.07%	0.07%
SLB	C	0.36%	0.03%	0.03%
SNA	A	0.31%	0.04%	0.04%
SOLV	C	0.18%	0.03%	0.03%
SRE	B	0.37%	0.03%	0.03%
SSNC	C	0.17%	0.01%	0.01%
STLD	C	0.51%	0.03%	0.03%
STT	B	0.27%	0.03%	0.03%
STX	D	0.24%	0.01%	0.01%
SWKS	F	0.32%	0.03%	0.03%
SYF	B	0.56%	0.04%	0.04%
SYY	D	0.25%	0.03%	0.03%
T	A	0.44%	0.38%	0.38%
TAP	B	0.21%	0.01%	0.01%
TDY	B	0.28%	0.06%	0.06%
TGT	C	0.25%	0.14%	0.14%
TROW	A	0.48%	0.05%	0.05%
TRV	B	0.27%	0.29%	0.27%
TSN	B	0.17%	0.13%	0.13%
TTC	F	0.04%	0.02%	0.02%
TXT	D	0.25%	0.01%	0.01%
UHAL	D	0.08%	0.01%	0.01%
UHS	D	0.16%	0.01%	0.01%
ULTA	C	0.26%	0.07%	0.07%
UPS	C	0.08%	0.07%	0.07%
USB	B	0.28%	0.09%	0.09%
VLO	C	0.44%	0.07%	0.07%
VTRS	B	0.4%	0.03%	0.03%
VZ	D	0.31%	0.56%	0.31%
WEC	B	0.17%	0.19%	0.17%
WFC	A	0.43%	0.27%	0.27%
WLK	F	0.16%	0.0%	0.0%
WPC	F	0.08%	0.01%	0.01%
WRB	B	0.09%	0.14%	0.09%
WTRG	C	0.09%	0.01%	0.01%
WY	F	0.08%	0.02%	0.02%
XEL	A	0.35%	0.08%	0.08%
XOM	B	0.45%	0.47%	0.45%
XRX	F	0.08%	0.0%	0.0%
ZBH	C	0.35%	0.01%	0.01%
ZM	B	0.2%	0.01%	0.01%

FAB Overweight 449 Positions Relative to QWLD

Symbol	Grade	Weight
UAL	A	0.65%
TOL	B	0.43%
ATKR	C	0.26%
JXN	C	0.26%
MTDR	B	0.25%
NOG	B	0.25%
CNX	B	0.25%
HCC	C	0.25%
HP	C	0.25%
PTEN	C	0.24%
CMC	B	0.24%
OSK	B	0.24%
CIVI	D	0.23%
TEX	D	0.23%
SM	C	0.23%
AGO	B	0.23%
LBRDK	C	0.22%
CXW	B	0.22%
AMR	C	0.22%
TMHC	B	0.22%
AMG	B	0.22%
NOV	C	0.22%
NFE	F	0.22%
AL	B	0.22%
PVH	C	0.22%
MHO	D	0.21%
MTG	C	0.21%
RIOT	C	0.21%
BWA	B	0.21%
URBN	C	0.21%
RNR	D	0.21%
RDN	C	0.21%
MUR	D	0.21%
PBF	F	0.21%
MTH	D	0.2%
FMC	F	0.2%
TPH	C	0.2%
LAD	B	0.2%
UNM	A	0.2%
LBRT	F	0.2%
CADE	B	0.2%
RUSHA	B	0.2%
UGI	D	0.2%
DAR	B	0.19%
DXC	B	0.19%
R	B	0.19%
HRI	C	0.19%
CNO	B	0.19%
OZK	B	0.19%
MGY	B	0.19%
LEA	F	0.19%
ASO	F	0.19%
LNC	B	0.19%
MATX	B	0.19%
RGA	A	0.18%
DDS	B	0.18%
CLF	F	0.18%
M	C	0.18%
CNXC	F	0.18%
GPI	B	0.18%
AVT	C	0.18%
OTTR	C	0.18%
KRC	C	0.18%
RRC	B	0.18%
G	B	0.18%
JAZZ	B	0.18%
COOP	B	0.18%
ADTN	B	0.18%
ESNT	D	0.18%
HOG	D	0.18%
POR	D	0.17%
NFG	D	0.17%
BKH	A	0.17%
BCC	B	0.17%
AAP	C	0.17%
PNW	A	0.17%
GBDC	B	0.17%
AMKR	F	0.16%
BFH	B	0.16%
SANM	C	0.16%
ZION	B	0.16%
ARW	F	0.16%
GBX	A	0.16%
WCC	B	0.16%
WBS	A	0.16%
KBH	D	0.16%
FHN	A	0.16%
SIG	B	0.16%
SR	C	0.16%
SUM	B	0.16%
ALK	A	0.15%
ULH	B	0.15%
FNB	B	0.15%
JBT	B	0.15%
NXST	C	0.15%
OMF	A	0.15%
ECVT	C	0.15%
COLB	A	0.15%
BMBL	C	0.15%
TGNA	B	0.15%
MDU	D	0.15%
BTU	C	0.14%
EIG	A	0.14%
CABO	B	0.14%
GT	C	0.14%
CUBI	B	0.14%
TDS	C	0.14%
RIG	C	0.14%
IART	C	0.14%
KMT	B	0.14%
ABG	B	0.14%
INGR	B	0.14%
VTLE	C	0.14%
GMS	B	0.14%
TALO	C	0.14%
VLY	B	0.14%
PINC	B	0.14%
CTOS	B	0.14%
BYD	A	0.14%
HELE	C	0.13%
OGS	B	0.13%
PAG	B	0.13%
BERY	D	0.13%
GIII	C	0.13%
RLJ	C	0.13%
SWX	B	0.13%
INVA	C	0.13%
BC	D	0.13%
SHO	D	0.13%
THO	B	0.13%
PK	C	0.13%
VAC	B	0.13%
PLAB	C	0.13%
APLE	B	0.13%
WHR	B	0.13%
WS	B	0.13%
GEF	B	0.13%
DNOW	B	0.13%
GL	B	0.13%
OGE	B	0.13%
AXS	A	0.13%
SNX	C	0.13%
WU	F	0.12%
OLN	F	0.12%
HTZ	C	0.12%
AVA	C	0.12%
VSH	F	0.12%
USM	C	0.12%
IMKTA	B	0.12%
INDB	B	0.12%
TRMK	B	0.12%
ASH	F	0.12%
SPNT	B	0.12%
VC	F	0.12%
AN	C	0.12%
SON	F	0.12%
RES	F	0.12%
ENS	D	0.12%
POST	D	0.12%
UVV	B	0.12%
CRGY	A	0.12%
FOR	F	0.12%
EPC	F	0.12%
GPOR	B	0.12%
AMWD	B	0.11%
REZI	A	0.11%
GES	F	0.11%
MRC	B	0.11%
CCS	F	0.11%
KSS	D	0.11%
PII	F	0.11%
WMK	B	0.11%
SEB	F	0.11%
MLI	B	0.11%
OGN	F	0.11%
HOV	F	0.11%
SAH	B	0.11%
PHIN	B	0.11%
AEO	F	0.11%
EBC	B	0.11%
DBRG	F	0.11%
GHC	B	0.11%
PRDO	B	0.11%
FFBC	B	0.11%
KOS	D	0.11%
PARR	F	0.11%
BY	B	0.11%
PEBO	A	0.11%
WKC	C	0.11%
CAL	D	0.11%
BV	C	0.11%
ANDE	D	0.1%
ABCB	B	0.1%
SBH	A	0.1%
AMN	F	0.1%
UBSI	B	0.1%
ABR	B	0.1%
PDCO	F	0.1%
PRG	B	0.1%
NAVI	D	0.1%
MLKN	D	0.1%
CMA	A	0.1%
NWN	B	0.1%
HWC	B	0.1%
HGV	B	0.1%
LADR	B	0.1%
CENTA	C	0.1%
ZD	B	0.1%
EQC	C	0.1%
HIW	D	0.1%
WTFC	B	0.1%
CMCO	C	0.1%
BECN	B	0.1%
VSCO	B	0.1%
VNT	C	0.1%
SCSC	B	0.1%
DRH	C	0.1%
WSBC	B	0.09%
CRK	B	0.09%
AR	B	0.09%
CASH	B	0.09%
HY	F	0.09%
CATY	B	0.09%
SASR	A	0.09%
LPX	A	0.09%
UFPI	B	0.09%
MIDD	D	0.09%
ADNT	D	0.09%
JWN	B	0.09%
SLGN	B	0.09%
BANR	B	0.09%
PNM	B	0.09%
COLM	B	0.09%
MODG	F	0.09%
ORI	A	0.09%
MSM	C	0.09%
CVBF	B	0.09%
CVI	F	0.09%
ALKS	C	0.09%
FIVE	F	0.09%
KFY	B	0.09%
SLM	A	0.09%
PLYA	B	0.09%
ASGN	D	0.09%
OEC	D	0.09%
BNL	D	0.09%
CUZ	B	0.09%
NWE	C	0.09%
CRC	B	0.09%
IDA	A	0.09%
BOKF	B	0.09%
VSTS	D	0.09%
PB	B	0.09%
ACA	B	0.09%
GEO	B	0.09%
LZB	B	0.09%
REYN	D	0.08%
BKE	A	0.08%
MCRI	A	0.08%
ARCB	C	0.08%
WERN	B	0.08%
HUBG	A	0.08%
WGO	B	0.08%
BKU	A	0.08%
FIBK	B	0.08%
SNDR	B	0.08%
TKR	F	0.08%
HOPE	B	0.08%
SRCE	B	0.08%
VSAT	F	0.08%
FCF	B	0.08%
ALG	B	0.08%
NX	C	0.08%
WSFS	B	0.08%
TCBK	B	0.08%
VBTX	B	0.08%
SKX	F	0.08%
VRTS	B	0.08%
FULT	B	0.08%
LAUR	B	0.08%
EFSC	B	0.08%
TNET	C	0.08%
RNST	B	0.08%
MMS	F	0.08%
DAN	D	0.08%
PFBC	B	0.08%
SFNC	B	0.08%
FRME	B	0.08%
KLG	F	0.08%
KALU	C	0.08%
IPGP	C	0.08%
DIOD	F	0.08%
LILAK	F	0.08%
DFH	F	0.07%
LGIH	F	0.07%
TTMI	B	0.07%
SPB	A	0.07%
SJW	F	0.07%
SSTK	D	0.07%
UNF	B	0.07%
PEB	F	0.07%
MRTN	C	0.07%
XHR	B	0.07%
BUSE	B	0.07%
PTVE	C	0.07%
PBH	A	0.06%
ENOV	C	0.06%
FHI	A	0.06%
NIC	B	0.06%
CSGS	B	0.06%
KAR	B	0.06%
BHE	C	0.06%
HLF	C	0.06%
FHB	B	0.06%
CRI	D	0.06%
SNEX	B	0.06%
HMN	B	0.06%
OMI	F	0.06%
ASB	B	0.06%
GRBK	D	0.06%
SCVL	D	0.06%
LC	B	0.06%
SHEN	F	0.05%
DNB	B	0.05%
ODP	F	0.05%
UCB	B	0.05%
BJ	B	0.05%
DK	D	0.05%
PFGC	B	0.05%
YETI	D	0.05%
DFIN	D	0.05%
TPR	A	0.05%
LCII	D	0.05%
SEM	C	0.05%
THRM	F	0.05%
SSB	B	0.05%
SYNA	C	0.05%
AUB	A	0.05%
RHI	B	0.05%
OFG	B	0.05%
GO	C	0.05%
PSMT	D	0.05%
STBA	B	0.05%
ROG	D	0.05%
JEF	B	0.05%
DEA	D	0.05%
ARI	C	0.05%
UMBF	B	0.05%
GXO	B	0.05%
KWR	C	0.05%
CXT	F	0.05%
HTH	B	0.05%
ALEX	B	0.05%
SCL	C	0.05%
LNN	B	0.05%
ROCK	C	0.05%
WAFD	B	0.05%
PNFP	B	0.05%
MTX	B	0.05%
IOSP	B	0.05%
TOWN	B	0.05%
FLR	C	0.05%
ABM	B	0.05%
FBNC	B	0.05%
CAR	C	0.05%
NWBI	B	0.05%
SBCF	B	0.05%
GOGO	C	0.05%
UPWK	C	0.04%
NSP	F	0.04%
FAF	C	0.04%
STWD	C	0.04%
BPOP	C	0.04%
WD	D	0.04%
LFUS	D	0.04%
SEE	C	0.04%
AVNS	F	0.04%
NJR	A	0.04%
RYN	F	0.04%
CZR	F	0.04%
FOXF	F	0.04%
SKY	B	0.04%
FUL	F	0.04%
LSTR	B	0.04%
WTS	B	0.04%
ALIT	C	0.04%
IAC	F	0.04%
MAT	C	0.04%
AVNT	B	0.04%
VOYA	B	0.04%
PRGO	C	0.04%
PATK	C	0.04%
MUSA	B	0.04%
FELE	B	0.04%
IVZ	B	0.04%
WAL	B	0.04%
SHLS	D	0.03%
EVTC	C	0.03%
CNMD	C	0.03%
SAFT	B	0.03%
MSEX	C	0.03%
MTRN	B	0.03%
HAYW	B	0.03%
PGRE	C	0.03%
CVCO	B	0.03%
SAM	B	0.03%
NVEE	F	0.03%
NNI	C	0.03%
IVT	B	0.03%
DEI	B	0.03%
NBTB	B	0.03%
ROIC	A	0.03%
PPBI	B	0.03%
BHLB	B	0.03%
HLIO	C	0.03%
BHF	B	0.03%
PFS	B	0.03%
FDP	B	0.03%
FBK	B	0.03%
TCBI	B	0.03%
CBU	B	0.03%
MGPI	F	0.03%
MCW	C	0.03%
OPCH	F	0.03%
MYRG	B	0.03%
OLPX	D	0.02%
GIC	F	0.02%
GPRE	F	0.02%
OXM	D	0.02%
CWEN	D	0.02%
AIN	C	0.02%
RC	D	0.02%
SHOO	D	0.02%
CMTG	F	0.02%
STC	C	0.02%
LXP	D	0.02%
AIR	B	0.02%
CNXN	C	0.02%
OI	C	0.02%
NMRK	B	0.02%
XPEL	B	0.02%
JBGS	F	0.02%
PLUS	F	0.02%
MSGE	F	0.02%
CC	C	0.02%
KFRC	C	0.02%
BLMN	F	0.02%
GNW	B	0.02%
UPBD	B	0.02%

FAB Underweight 393 Positions Relative to QWLD

Symbol	Grade	Weight
NVDA	A	-2.56%
AAPL	C	-2.5%
MSFT	C	-2.29%
META	B	-2.14%
UNH	B	-1.34%
V	A	-1.19%
LLY	F	-1.17%
GOOGL	C	-1.08%
GOOG	C	-0.95%
PG	C	-0.89%
NVS	F	-0.81%
WMT	A	-0.75%
COST	B	-0.75%
TMUS	A	-0.73%
BRK.A	B	-0.72%
MA	B	-0.7%
MSI	B	-0.61%
JPM	A	-0.59%
KO	F	-0.57%
WM	A	-0.52%
NFLX	A	-0.51%
MMC	D	-0.51%
TXN	B	-0.51%
MCK	B	-0.51%
ROP	A	-0.49%
IBM	D	-0.48%
VRTX	B	-0.45%
RSG	B	-0.45%
SO	D	-0.45%
MRK	F	-0.44%
APH	B	-0.43%
ADBE	C	-0.42%
COR	B	-0.42%
ABBV	F	-0.41%
MCD	C	-0.41%
CAT	B	-0.39%
AMZN	A	-0.37%
PGR	A	-0.35%
QCOM	F	-0.34%
REGN	F	-0.33%
TJX	A	-0.33%
NOC	D	-0.33%
AMAT	F	-0.32%
GE	D	-0.31%
AZO	B	-0.29%
UNP	D	-0.27%
UL	D	-0.27%
ADP	A	-0.26%
WCN	A	-0.26%
ISRG	A	-0.25%
INTU	A	-0.25%
HON	B	-0.25%
GILD	B	-0.25%
ORCL	A	-0.25%
HSBH	A	-0.25%
ACGL	C	-0.25%
CBOE	D	-0.24%
ORLY	A	-0.24%
GDDY	B	-0.23%
MFG	A	-0.22%
K	A	-0.22%
BMY	B	-0.21%
ANET	C	-0.21%
LRCX	F	-0.2%
WMB	B	-0.19%
CL	F	-0.19%
EA	A	-0.19%
PFE	F	-0.19%
BAH	C	-0.18%
CHD	A	-0.18%
PANW	B	-0.18%
AMGN	F	-0.18%
AJG	A	-0.18%
AON	B	-0.17%
CHKP	C	-0.17%
GS	B	-0.17%
KLAC	F	-0.16%
INCY	B	-0.16%
ABBV	F	-0.16%
UTHR	B	-0.16%
FFIV	B	-0.16%
ZTS	D	-0.15%
YUM	B	-0.15%
CME	B	-0.15%
ITW	B	-0.14%
CDNS	B	-0.14%
BRO	B	-0.14%
SHW	A	-0.14%
CTAS	B	-0.14%
TSLA	B	-0.14%
VRSN	C	-0.14%
TM	F	-0.14%
MMM	C	-0.14%
TT	B	-0.14%
JNPR	D	-0.13%
SNPS	C	-0.13%
CMG	B	-0.13%
MUFG	A	-0.13%
FCNCA	B	-0.12%
GEN	B	-0.12%
AVGO	C	-0.12%
TD	D	-0.12%
MKL	A	-0.12%
CAH	B	-0.12%
E	F	-0.12%
ERIE	F	-0.12%
MCO	C	-0.12%
KMB	D	-0.11%
DEO	F	-0.11%
BCS	B	-0.11%
GWW	B	-0.11%
NBIX	C	-0.11%
ADSK	B	-0.1%
SMFG	A	-0.1%
CNI	F	-0.1%
PAYX	B	-0.1%
LYG	D	-0.09%
TFC	B	-0.09%
RTX	D	-0.09%
FAST	B	-0.09%
AMP	A	-0.09%
ABT	C	-0.09%
AMCR	D	-0.08%
KVUE	A	-0.08%
BDX	F	-0.08%
CPRT	A	-0.08%
ROL	C	-0.08%
SONY	C	-0.08%
CDW	F	-0.08%
PTC	B	-0.08%
PSA	D	-0.08%
STLA	F	-0.08%
FI	A	-0.08%
A	F	-0.07%
EW	F	-0.07%
JKHY	C	-0.07%
PM	B	-0.07%
MNST	B	-0.07%
HMC	F	-0.07%
LULU	B	-0.07%
ALL	B	-0.07%
BMRN	F	-0.07%
IDXX	F	-0.07%
WTW	A	-0.07%
MPWR	F	-0.06%
TSCO	D	-0.06%
WBD	B	-0.06%
LOGI	F	-0.06%
LIN	D	-0.06%
ROK	B	-0.06%
DPZ	C	-0.06%
AXP	B	-0.06%
TMO	F	-0.06%
MCHP	F	-0.06%
VEEV	B	-0.05%
VLTO	D	-0.05%
DOV	A	-0.05%
DECK	B	-0.05%
MT	C	-0.05%
MET	C	-0.05%
BK	B	-0.05%
DHR	F	-0.05%
NEE	D	-0.05%
CRM	B	-0.05%
RMD	C	-0.05%
TPL	B	-0.05%
GRMN	A	-0.05%
IT	B	-0.04%
HCA	D	-0.04%
AMD	F	-0.04%
WST	B	-0.04%
NEM	F	-0.04%
MANH	C	-0.04%
ADI	D	-0.04%
SCHW	B	-0.04%
MO	A	-0.04%
WBA	D	-0.04%
BR	A	-0.04%
WDAY	B	-0.04%
TRGP	B	-0.04%
HUBB	C	-0.04%
WAT	B	-0.04%
PLD	D	-0.04%
FICO	B	-0.04%
EME	B	-0.04%
LPLA	A	-0.04%
DFS	B	-0.04%
MU	D	-0.04%
BTI	C	-0.04%
NTAP	D	-0.04%
GGG	B	-0.03%
AVY	F	-0.03%
TER	F	-0.03%
BX	A	-0.03%
FCX	F	-0.03%
FDS	A	-0.03%
CBRE	B	-0.03%
PNR	A	-0.03%
JCI	A	-0.03%
ICE	C	-0.03%
BKNG	A	-0.03%
POOL	D	-0.03%
SW	B	-0.03%
NSC	B	-0.03%
ETN	B	-0.03%
EMR	A	-0.03%
SYK	A	-0.03%
CSL	B	-0.03%
PCG	A	-0.03%
WSO	B	-0.03%
WSM	F	-0.03%
SPGI	C	-0.03%
PARA	B	-0.02%
NRG	C	-0.02%
ACI	C	-0.02%
NMR	B	-0.02%
CNH	D	-0.02%
APO	B	-0.02%
MKTX	C	-0.02%
NXPI	F	-0.02%
AOS	F	-0.02%
ROST	D	-0.02%
NTRS	A	-0.02%
GEHC	D	-0.02%
SPG	A	-0.02%
SMCI	F	-0.02%
CEG	D	-0.02%
FIS	B	-0.02%
ENPH	F	-0.02%
AER	B	-0.02%
DLR	C	-0.02%
WELL	B	-0.02%
VICI	D	-0.02%
PH	A	-0.02%
PEG	C	-0.02%
PAYC	B	-0.02%
MRO	B	-0.02%
GPN	B	-0.02%
GLW	B	-0.02%
AMT	F	-0.02%
O	D	-0.02%
DKS	D	-0.02%
BSX	A	-0.02%
URI	B	-0.02%
ALLE	D	-0.02%
KKR	B	-0.02%
GEV	B	-0.02%
ARES	B	-0.01%
VRSK	A	-0.01%
CTLT	D	-0.01%
DVA	C	-0.01%
FSLR	F	-0.01%
SBAC	D	-0.01%
RCL	A	-0.01%
RPRX	F	-0.01%
EL	F	-0.01%
GLPI	D	-0.01%
RPM	A	-0.01%
TTWO	A	-0.01%
FOX	A	-0.01%
BURL	C	-0.01%
COIN	B	-0.01%
FTNT	B	-0.01%
TRMB	B	-0.01%
REG	A	-0.01%
STE	D	-0.01%
IRM	D	-0.01%
TRU	D	-0.01%
CCL	B	-0.01%
SUI	F	-0.01%
TWLO	B	-0.01%
MBAVU	C	-0.01%
AVTR	F	-0.01%
INVH	D	-0.01%
ESS	C	-0.01%
HLT	A	-0.01%
MKC	D	-0.01%
AES	F	-0.01%
CCEP	C	-0.01%
EFX	F	-0.01%
CG	B	-0.01%
XYL	F	-0.01%
HWM	B	-0.01%
ACM	B	-0.01%
STZ	D	-0.01%
BXP	D	-0.01%
RVTY	C	-0.01%
CCK	D	-0.01%
ZBRA	B	-0.01%
BALL	D	-0.01%
CPAY	A	-0.01%
DLTR	F	-0.01%
SE	B	-0.01%
WFG	C	-0.01%
TDG	D	-0.01%
IR	A	-0.01%
VTR	C	-0.01%
ALB	C	-0.01%
NDAQ	B	-0.01%
ABNB	C	-0.01%
EXPE	B	-0.01%
OTIS	D	-0.01%
IFF	F	-0.01%
MRNA	F	-0.01%
WDC	D	-0.01%
VMC	B	-0.01%
VST	B	-0.01%
MRVL	B	-0.01%
MLM	B	-0.01%
PWR	B	-0.01%
BSY	F	-0.01%
EQH	B	-0.01%
AVB	B	-0.01%
LDOS	C	-0.01%
MAR	A	-0.01%
CHRW	A	-0.01%
UBER	F	-0.01%
HES	B	-0.01%
AME	A	-0.01%
IQV	F	-0.01%
DELL	C	-0.01%
WAB	B	-0.01%
EXR	D	-0.01%
SWK	F	-0.01%
ECL	C	-0.01%
NOW	A	-0.01%
BA	F	-0.01%
ES	D	-0.01%
CCI	F	-0.01%
SQ	B	-0.01%
BAX	F	-0.01%
MELI	D	-0.01%
KMX	B	-0.01%
EQIX	B	-0.01%
GLBE	B	-0.0%
IOT	B	-0.0%
NET	B	-0.0%
TOST	A	-0.0%
RBLX	B	-0.0%
DKNG	B	-0.0%
DDOG	B	-0.0%
SNAP	C	-0.0%
H	B	-0.0%
PSTG	D	-0.0%
HEI	A	-0.0%
FUTU	C	-0.0%
DT	C	-0.0%
PODD	B	-0.0%
DOCU	B	-0.0%
SNOW	C	-0.0%
GRAB	B	-0.0%
PINS	F	-0.0%
MSTR	B	-0.0%
DAY	B	-0.0%
WYNN	C	-0.0%
EXAS	F	-0.0%
DXCM	C	-0.0%
ROKU	C	-0.0%
TECH	D	-0.0%
CRWD	B	-0.0%
OKTA	C	-0.0%
APP	B	-0.0%
TYL	B	-0.0%
LII	B	-0.0%
Z	B	-0.0%
HOOD	B	-0.0%
ELS	B	-0.0%
TTD	B	-0.0%
HEI	A	-0.0%
TW	B	-0.0%
RIVN	F	-0.0%
ENTG	F	-0.0%
AXON	B	-0.0%
LYV	A	-0.0%
MSCI	B	-0.0%
PLTR	B	-0.0%
VRT	B	-0.0%
QGEN	D	-0.0%
LW	B	-0.0%
UDR	C	-0.0%
CSGP	F	-0.0%
LVS	C	-0.0%
TFX	F	-0.0%
AMH	C	-0.0%
MTCH	F	-0.0%
OTEX	F	-0.0%
ANSS	B	-0.0%
ALGN	D	-0.0%
CPT	C	-0.0%
BIO	C	-0.0%
DASH	A	-0.0%
ILMN	C	-0.0%
QRVO	F	-0.0%