FNDX vs. QWLD ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to SPDR MSCI World Quality Mix ETF (QWLD)

FNDX

Schwab Fundamental U.S. Large Company Index ETF

FNDX Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Large Company Index. The index selects, ranks, and weights securities by fundamental measures of company size - adjusted sales, retained operating cash flow, and dividends plus buybacks - rather than market capitalization. Under normal circumstances, the fund will invest at least 90% of its net assets in stocks included in the index. It may invest up to 10% of its net assets in securities not included in the index.

Grade (RS Rating)

Last Trade

$71.07

Average Daily Volume

407,228

Number of Holdings ^*

723

* 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

$127.23

Average Daily Volume

4,207

Number of Holdings ^*

605

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	QWLD
30 Days	1.73%	-0.74%
60 Days	6.27%	5.28%
90 Days	6.10%	4.52%
12 Months	31.37%	29.12%

504 Overlapping Holdings

Symbol	Grade	Weight in FNDX	Weight in QWLD	Overlap
A	B	0.06%	0.07%	0.06%
AAPL	C	4.43%	2.55%	2.55%
ABBV	B	0.58%	0.4%	0.4%
ABBV	B	0.58%	0.15%	0.15%
ABT	C	0.34%	0.09%	0.09%
ACGL	B	0.03%	0.28%	0.03%
ACI	F	0.03%	0.02%	0.02%
ACM	A	0.04%	0.01%	0.01%
ACN	B	0.35%	0.62%	0.35%
ADBE	F	0.19%	0.44%	0.19%
ADI	C	0.14%	0.04%	0.04%
ADM	F	0.24%	0.05%	0.05%
ADP	A	0.14%	0.24%	0.14%
ADSK	C	0.03%	0.09%	0.03%
AEE	A	0.07%	0.08%	0.07%
AEP	C	0.17%	0.07%	0.07%
AER	D	0.02%	0.02%	0.02%
AES	C	0.07%	0.01%	0.01%
AFG	B	0.05%	0.02%	0.02%
AFL	A	0.21%	0.12%	0.12%
AGCO	D	0.03%	0.01%	0.01%
AIG	F	0.27%	0.07%	0.07%
AIZ	B	0.03%	0.07%	0.03%
AJG	D	0.05%	0.18%	0.05%
AKAM	D	0.04%	0.13%	0.04%
ALB	D	0.03%	0.01%	0.01%
ALGN	D	0.03%	0.01%	0.01%
ALL	C	0.26%	0.07%	0.07%
ALLE	A	0.01%	0.02%	0.01%
ALLY	F	0.09%	0.01%	0.01%
AMAT	B	0.27%	0.33%	0.27%
AMCR	C	0.03%	0.08%	0.03%
AMD	B	0.11%	0.04%	0.04%
AME	D	0.05%	0.01%	0.01%
AMGN	D	0.44%	0.19%	0.19%
AMP	A	0.12%	0.08%	0.08%
AMT	C	0.14%	0.03%	0.03%
AMZN	C	1.42%	0.35%	0.35%
ANET	A	0.04%	0.19%	0.04%
ANSS	D	0.02%	0.0%	0.0%
AON	B	0.12%	0.15%	0.12%
AOS	B	0.03%	0.02%	0.02%
APA	F	0.03%	0.03%	0.03%
APD	C	0.12%	0.03%	0.03%
APH	D	0.08%	0.4%	0.08%
APO	B	0.02%	0.01%	0.01%
APTV	D	0.03%	0.02%	0.02%
ARE	D	0.03%	0.01%	0.01%
ATO	A	0.04%	0.01%	0.01%
AVB	C	0.05%	0.01%	0.01%
AVGO	C	0.63%	0.12%	0.12%
AVTR	D	0.03%	0.01%	0.01%
AVY	D	0.04%	0.03%	0.03%
AWK	C	0.05%	0.01%	0.01%
AXP	B	0.35%	0.06%	0.06%
AZO	D	0.06%	0.27%	0.06%
BA	F	0.13%	0.01%	0.01%
BAC	D	1.14%	0.33%	0.33%
BAH	A	0.04%	0.16%	0.04%
BALL	C	0.06%	0.01%	0.01%
BAX	D	0.08%	0.02%	0.02%
BBWI	F	0.03%	0.0%	0.0%
BBY	C	0.18%	0.06%	0.06%
BDX	C	0.12%	0.07%	0.07%
BEN	F	0.04%	0.01%	0.01%
BG	F	0.12%	0.03%	0.03%
BIIB	F	0.11%	0.02%	0.02%
BK	C	0.25%	0.05%	0.05%
BKNG	C	0.21%	0.02%	0.02%
BKR	B	0.14%	0.02%	0.02%
BLDR	B	0.06%	0.05%	0.05%
BLK	A	0.26%	0.22%	0.22%
BMY	B	0.4%	0.19%	0.19%
BR	B	0.03%	0.04%	0.03%
BRK.A	C	2.17%	0.7%	0.7%
BRO	A	0.02%	0.13%	0.02%
BSX	A	0.09%	0.02%	0.02%
BURL	D	0.03%	0.01%	0.01%
BX	C	0.11%	0.02%	0.02%
BXP	C	0.05%	0.01%	0.01%
C	C	1.02%	0.22%	0.22%
CAG	D	0.07%	0.05%	0.05%
CAH	B	0.07%	0.12%	0.07%
CARR	B	0.13%	0.02%	0.02%
CAT	A	0.42%	0.35%	0.35%
CB	B	0.27%	0.4%	0.27%
CBOE	B	0.01%	0.25%	0.01%
CBRE	B	0.12%	0.03%	0.03%
CCEP	D	0.02%	0.01%	0.01%
CCI	C	0.11%	0.02%	0.02%
CCK	C	0.04%	0.01%	0.01%
CCL	C	0.05%	0.01%	0.01%
CDNS	D	0.03%	0.12%	0.03%
CDW	D	0.06%	0.09%	0.06%
CE	C	0.06%	0.01%	0.01%
CEG	A	0.12%	0.02%	0.02%
CF	A	0.07%	0.12%	0.07%
CFG	D	0.09%	0.03%	0.03%
CG	B	0.03%	0.01%	0.01%
CHD	D	0.04%	0.18%	0.04%
CHK	D	0.03%	0.02%	0.02%
CHKP	C	0.02%	0.19%	0.02%
CHRW	C	0.08%	0.01%	0.01%
CHTR	D	0.3%	0.05%	0.05%
CI	D	0.52%	0.19%	0.19%
CINF	B	0.07%	0.02%	0.02%
CL	D	0.14%	0.22%	0.14%
CLX	C	0.04%	0.01%	0.01%
CMCSA	C	0.81%	0.16%	0.16%
CME	A	0.08%	0.15%	0.08%
CMG	C	0.04%	0.13%	0.04%
CMI	A	0.17%	0.08%	0.08%
CMS	A	0.06%	0.05%	0.05%
CNC	F	0.25%	0.06%	0.06%
CNH	D	0.02%	0.01%	0.01%
CNP	B	0.06%	0.01%	0.01%
COF	C	0.4%	0.08%	0.08%
COP	D	0.46%	0.1%	0.1%
COST	C	0.65%	0.76%	0.65%
CPAY	A	0.05%	0.01%	0.01%
CPB	D	0.03%	0.1%	0.03%
CPRT	C	0.03%	0.07%	0.03%
CPT	C	0.02%	0.01%	0.01%
CRBG	B	0.04%	0.01%	0.01%
CRL	F	0.01%	0.0%	0.0%
CRM	B	0.13%	0.05%	0.05%
CSCO	A	0.77%	0.92%	0.77%
CSL	A	0.05%	0.03%	0.03%
CSX	D	0.21%	0.11%	0.11%
CTAS	C	0.08%	0.13%	0.08%
CTLT	A	0.02%	0.01%	0.01%
CTRA	D	0.03%	0.02%	0.02%
CTSH	B	0.18%	0.2%	0.18%
CTVA	A	0.09%	0.04%	0.04%
CVS	C	0.77%	0.17%	0.17%
CVX	B	1.15%	0.29%	0.29%
D	A	0.18%	0.06%	0.06%
DAL	C	0.02%	0.01%	0.01%
DD	C	0.19%	0.02%	0.02%
DE	B	0.25%	0.06%	0.06%
DECK	B	0.03%	0.04%	0.03%
DELL	C	0.02%	0.01%	0.01%
DFS	C	0.21%	0.03%	0.03%
DG	F	0.09%	0.01%	0.01%
DGX	C	0.07%	0.1%	0.07%
DHI	C	0.19%	0.12%	0.12%
DHR	D	0.17%	0.06%	0.06%
DINO	D	0.06%	0.05%	0.05%
DIS	D	0.41%	0.08%	0.08%
DKS	D	0.04%	0.03%	0.03%
DLR	C	0.08%	0.02%	0.02%
DLTR	F	0.05%	0.01%	0.01%
DOC	C	0.04%	0.01%	0.01%
DOV	B	0.06%	0.04%	0.04%
DOW	B	0.23%	0.04%	0.04%
DPZ	D	0.03%	0.06%	0.03%
DRI	C	0.05%	0.03%	0.03%
DTE	A	0.08%	0.02%	0.02%
DUK	B	0.32%	0.37%	0.32%
DVA	C	0.06%	0.01%	0.01%
DVN	F	0.09%	0.03%	0.03%
EA	D	0.08%	0.17%	0.08%
EBAY	A	0.18%	0.01%	0.01%
ECL	B	0.09%	0.01%	0.01%
ED	A	0.13%	0.37%	0.13%
EFX	C	0.03%	0.01%	0.01%
EG	B	0.02%	0.06%	0.02%
EIX	B	0.1%	0.03%	0.03%
EL	D	0.05%	0.01%	0.01%
ELV	F	0.47%	0.27%	0.27%
EME	C	0.05%	0.04%	0.04%
EMN	C	0.09%	0.01%	0.01%
EMR	B	0.15%	0.02%	0.02%
EOG	B	0.22%	0.05%	0.05%
EPAM	F	0.02%	0.02%	0.02%
EQH	C	0.05%	0.01%	0.01%
EQIX	C	0.08%	0.01%	0.01%
EQR	C	0.05%	0.01%	0.01%
EQT	B	0.04%	0.01%	0.01%
ES	D	0.09%	0.02%	0.02%
ESS	D	0.03%	0.01%	0.01%
ETN	C	0.21%	0.03%	0.03%
ETR	A	0.11%	0.02%	0.02%
EVRG	C	0.07%	0.01%	0.01%
EW	F	0.04%	0.07%	0.04%
EXC	A	0.18%	0.03%	0.03%
EXPD	D	0.04%	0.04%	0.04%
EXPE	B	0.03%	0.01%	0.01%
EXR	C	0.03%	0.01%	0.01%
F	D	0.33%	0.09%	0.09%
FANG	C	0.05%	0.09%	0.05%
FAST	C	0.07%	0.08%	0.07%
FCNCA	D	0.02%	0.1%	0.02%
FCX	B	0.17%	0.03%	0.03%
FDX	F	0.29%	0.06%	0.06%
FE	C	0.1%	0.01%	0.01%
FFIV	B	0.03%	0.15%	0.03%
FIS	B	0.11%	0.02%	0.02%
FITB	C	0.12%	0.03%	0.03%
FNF	B	0.07%	0.01%	0.01%
FOXA	A	0.09%	0.01%	0.01%
FSLR	C	0.01%	0.01%	0.01%
FTNT	B	0.03%	0.01%	0.01%
FTV	C	0.04%	0.01%	0.01%
GD	C	0.22%	0.19%	0.19%
GDDY	D	0.02%	0.21%	0.02%
GE	C	0.16%	0.33%	0.16%
GEHC	C	0.11%	0.02%	0.02%
GEV	A	0.03%	0.02%	0.02%
GGG	C	0.02%	0.03%	0.02%
GILD	A	0.35%	0.23%	0.23%
GIS	C	0.13%	0.38%	0.13%
GLPI	A	0.02%	0.01%	0.01%
GLW	C	0.14%	0.02%	0.02%
GM	D	0.65%	0.15%	0.15%
GOOG	B	1.09%	0.87%	0.87%
GOOGL	B	1.27%	0.99%	0.99%
GPC	D	0.06%	0.06%	0.06%
GPN	F	0.08%	0.02%	0.02%
GRMN	D	0.03%	0.04%	0.03%
GS	D	0.54%	0.14%	0.14%
GWW	B	0.07%	0.1%	0.07%
HAL	D	0.06%	0.02%	0.02%
HBAN	D	0.06%	0.03%	0.03%
HCA	C	0.24%	0.04%	0.04%
HD	A	0.8%	0.14%	0.14%
HES	C	0.05%	0.01%	0.01%
HIG	B	0.14%	0.03%	0.03%
HII	F	0.04%	0.01%	0.01%
HLT	B	0.06%	0.01%	0.01%
HOLX	D	0.04%	0.01%	0.01%
HON	C	0.34%	0.23%	0.23%
HPE	B	0.2%	0.03%	0.03%
HPQ	B	0.2%	0.04%	0.04%
HRL	F	0.03%	0.1%	0.03%
HSIC	D	0.05%	0.01%	0.01%
HST	D	0.04%	0.01%	0.01%
HSY	F	0.04%	0.18%	0.04%
HUBB	B	0.03%	0.04%	0.03%
HUM	F	0.22%	0.17%	0.17%
HWM	A	0.06%	0.01%	0.01%
IBM	A	0.59%	0.49%	0.49%
ICE	A	0.11%	0.03%	0.03%
IDXX	D	0.03%	0.09%	0.03%
IEX	D	0.03%	0.02%	0.02%
IFF	C	0.06%	0.01%	0.01%
ILMN	B	0.03%	0.0%	0.0%
INTC	D	0.87%	0.09%	0.09%
INTU	F	0.1%	0.24%	0.1%
INVH	F	0.03%	0.01%	0.01%
IP	C	0.15%	0.02%	0.02%
IPG	D	0.04%	0.02%	0.02%
IQV	F	0.08%	0.01%	0.01%
IR	B	0.03%	0.01%	0.01%
IRM	A	0.07%	0.01%	0.01%
ISRG	C	0.08%	0.23%	0.08%
IT	B	0.03%	0.03%	0.03%
ITW	B	0.15%	0.13%	0.13%
J	F	0.06%	0.01%	0.01%
JBHT	D	0.04%	0.03%	0.03%
JBL	C	0.06%	0.01%	0.01%
JCI	C	0.15%	0.03%	0.03%
JKHY	A	0.02%	0.06%	0.02%
JNJ	D	0.97%	1.15%	0.97%
JNPR	B	0.05%	0.13%	0.05%
JPM	D	1.81%	0.52%	0.52%
K	A	0.07%	0.22%	0.07%
KDP	C	0.08%	0.16%	0.08%
KEY	C	0.09%	0.02%	0.02%
KEYS	C	0.04%	0.17%	0.04%
KHC	F	0.11%	0.22%	0.11%
KIM	C	0.03%	0.01%	0.01%
KKR	C	0.11%	0.02%	0.02%
KLAC	B	0.1%	0.18%	0.1%
KMB	D	0.11%	0.12%	0.11%
KMI	A	0.19%	0.03%	0.03%
KMX	F	0.07%	0.01%	0.01%
KNX	D	0.04%	0.01%	0.01%
KO	C	0.41%	0.64%	0.41%
KR	C	0.29%	0.3%	0.29%
KVUE	C	0.05%	0.08%	0.05%
L	D	0.05%	0.16%	0.05%
LDOS	A	0.07%	0.01%	0.01%
LEN	B	0.18%	0.09%	0.09%
LHX	A	0.16%	0.02%	0.02%
LII	C	0.03%	0.0%	0.0%
LIN	B	0.36%	0.06%	0.06%
LKQ	F	0.06%	0.01%	0.01%
LLY	D	0.23%	1.39%	0.23%
LMT	A	0.4%	0.45%	0.4%
LNG	A	0.05%	0.05%	0.05%
LNT	A	0.04%	0.03%	0.03%
LOW	A	0.43%	0.07%	0.07%
LPLA	C	0.03%	0.03%	0.03%
LRCX	D	0.17%	0.2%	0.17%
LULU	D	0.01%	0.06%	0.01%
LUV	B	0.02%	0.0%	0.0%
LVS	B	0.04%	0.0%	0.0%
LW	D	0.02%	0.0%	0.0%
LYB	F	0.16%	0.03%	0.03%
MA	A	0.28%	0.67%	0.28%
MAA	D	0.03%	0.01%	0.01%
MAR	B	0.08%	0.01%	0.01%
MAS	A	0.06%	0.01%	0.01%
MCD	A	0.35%	0.42%	0.35%
MCHP	F	0.06%	0.07%	0.06%
MCK	F	0.09%	0.47%	0.09%
MCO	D	0.07%	0.13%	0.07%
MDLZ	D	0.23%	0.16%	0.16%
MDT	C	0.17%	0.06%	0.06%
MET	B	0.26%	0.05%	0.05%
META	A	1.79%	2.11%	1.79%
MGM	C	0.06%	0.01%	0.01%
MKC	C	0.04%	0.01%	0.01%
MKL	C	0.04%	0.12%	0.04%
MLM	F	0.04%	0.01%	0.01%
MMC	D	0.14%	0.51%	0.14%
MMM	C	0.37%	0.14%	0.14%
MNST	D	0.04%	0.06%	0.04%
MO	D	0.35%	0.04%	0.04%
MOH	D	0.05%	0.07%	0.05%
MOS	F	0.07%	0.02%	0.02%
MPC	C	0.42%	0.18%	0.18%
MRK	F	0.5%	0.5%	0.5%
MRNA	F	0.04%	0.01%	0.01%
MRO	C	0.08%	0.02%	0.02%
MRVL	B	0.04%	0.01%	0.01%
MS	B	0.37%	0.09%	0.09%
MSCI	B	0.03%	0.0%	0.0%
MSFT	D	2.49%	2.36%	2.36%
MSI	A	0.06%	0.58%	0.06%
MTB	C	0.09%	0.04%	0.04%
MU	D	0.42%	0.04%	0.04%
NDAQ	B	0.03%	0.01%	0.01%
NDSN	C	0.02%	0.02%	0.02%
NEE	A	0.28%	0.06%	0.06%
NEM	C	0.18%	0.05%	0.05%
NFLX	B	0.15%	0.46%	0.15%
NI	A	0.04%	0.01%	0.01%
NKE	D	0.23%	0.19%	0.19%
NOC	B	0.21%	0.34%	0.21%
NOW	C	0.01%	0.01%	0.01%
NRG	A	0.11%	0.01%	0.01%
NSC	D	0.2%	0.03%	0.03%
NTAP	D	0.07%	0.04%	0.04%
NTRS	C	0.07%	0.01%	0.01%
NUE	C	0.2%	0.04%	0.04%
NVDA	B	0.34%	2.04%	0.34%
NVR	B	0.08%	0.07%	0.07%
NWSA	D	0.04%	0.01%	0.01%
NXPI	F	0.05%	0.02%	0.02%
O	A	0.04%	0.02%	0.02%
OC	C	0.06%	0.03%	0.03%
ODFL	F	0.05%	0.07%	0.05%
OKE	A	0.12%	0.03%	0.03%
OMC	C	0.08%	0.04%	0.04%
ON	F	0.04%	0.01%	0.01%
ORCL	C	0.46%	0.23%	0.23%
ORLY	A	0.1%	0.22%	0.1%
OTIS	A	0.05%	0.01%	0.01%
OVV	D	0.05%	0.02%	0.02%
OXY	D	0.11%	0.04%	0.04%
PANW	D	0.03%	0.16%	0.03%
PARA	F	0.1%	0.01%	0.01%
PAYX	A	0.06%	0.09%	0.06%
PCAR	C	0.13%	0.1%	0.1%
PCG	C	0.03%	0.03%	0.03%
PEG	A	0.11%	0.02%	0.02%
PEP	F	0.43%	0.83%	0.43%
PFE	D	0.78%	0.21%	0.21%
PFG	C	0.09%	0.02%	0.02%
PG	D	0.81%	0.96%	0.81%
PGR	C	0.23%	0.34%	0.23%
PH	B	0.12%	0.02%	0.02%
PHM	A	0.13%	0.07%	0.07%
PKG	B	0.07%	0.03%	0.03%
PLD	D	0.08%	0.05%	0.05%
PM	D	0.46%	0.06%	0.06%
PNC	C	0.27%	0.08%	0.08%
PNR	B	0.04%	0.03%	0.03%
POOL	B	0.02%	0.03%	0.02%
PPG	D	0.09%	0.01%	0.01%
PPL	B	0.11%	0.01%	0.01%
PRU	C	0.22%	0.04%	0.04%
PSA	C	0.06%	0.09%	0.06%
PSX	D	0.37%	0.14%	0.14%
PWR	B	0.07%	0.01%	0.01%
PYPL	C	0.2%	0.04%	0.04%
QCOM	C	0.45%	0.33%	0.33%
QRVO	F	0.05%	0.01%	0.01%
REG	C	0.02%	0.01%	0.01%
REGN	D	0.14%	0.44%	0.14%
RF	C	0.08%	0.03%	0.03%
RJF	B	0.04%	0.01%	0.01%
RMD	C	0.04%	0.05%	0.04%
ROK	C	0.06%	0.05%	0.05%
ROP	C	0.05%	0.49%	0.05%
ROST	D	0.08%	0.02%	0.02%
RPM	B	0.03%	0.01%	0.01%
RS	D	0.08%	0.01%	0.01%
RSG	C	0.06%	0.44%	0.06%
RTX	A	0.35%	0.09%	0.09%
SBAC	C	0.02%	0.01%	0.01%
SBUX	C	0.28%	0.03%	0.03%
SCHW	D	0.1%	0.03%	0.03%
SEIC	B	0.03%	0.01%	0.01%
SHW	C	0.08%	0.14%	0.08%
SJM	D	0.06%	0.08%	0.06%
SLB	D	0.12%	0.03%	0.03%
SNA	A	0.05%	0.03%	0.03%
SNPS	F	0.03%	0.12%	0.03%
SO	A	0.27%	0.47%	0.27%
SOLV	C	0.03%	0.03%	0.03%
SPG	A	0.1%	0.02%	0.02%
SPGI	B	0.15%	0.04%	0.04%
SQ	D	0.02%	0.01%	0.01%
SRE	B	0.12%	0.03%	0.03%
SSNC	C	0.04%	0.01%	0.01%
STE	D	0.03%	0.01%	0.01%
STLD	B	0.1%	0.02%	0.02%
STT	C	0.09%	0.03%	0.03%
STX	B	0.1%	0.01%	0.01%
STZ	D	0.08%	0.01%	0.01%
SUI	D	0.03%	0.01%	0.01%
SW	C	0.09%	0.02%	0.02%
SWK	C	0.09%	0.02%	0.02%
SWKS	F	0.05%	0.03%	0.03%
SYF	B	0.26%	0.03%	0.03%
SYK	C	0.12%	0.03%	0.03%
SYY	D	0.1%	0.03%	0.03%
T	A	1.27%	0.36%	0.36%
TAP	D	0.05%	0.01%	0.01%
TDG	B	0.07%	0.01%	0.01%
TDY	A	0.03%	0.05%	0.03%
TEL	D	0.11%	0.08%	0.08%
TER	C	0.05%	0.03%	0.03%
TFC	D	0.21%	0.08%	0.08%
TFX	C	0.02%	0.01%	0.01%
TGT	D	0.39%	0.15%	0.15%
TJX	D	0.22%	0.34%	0.22%
TMO	D	0.29%	0.07%	0.07%
TMUS	A	0.22%	0.64%	0.22%
TRGP	A	0.06%	0.03%	0.03%
TRMB	B	0.03%	0.01%	0.01%
TROW	D	0.12%	0.05%	0.05%
TRU	A	0.03%	0.01%	0.01%
TRV	C	0.29%	0.27%	0.27%
TSCO	B	0.06%	0.05%	0.05%
TSLA	C	0.24%	0.12%	0.12%
TSN	D	0.19%	0.13%	0.13%
TT	A	0.06%	0.14%	0.06%
TTC	D	0.02%	0.02%	0.02%
TTWO	F	0.03%	0.01%	0.01%
TXN	C	0.35%	0.48%	0.35%
TXT	F	0.06%	0.01%	0.01%
UBER	C	0.04%	0.01%	0.01%
UDR	C	0.02%	0.0%	0.0%
UHAL	B	0.02%	0.01%	0.01%
UHS	D	0.09%	0.01%	0.01%
ULTA	D	0.04%	0.07%	0.04%
UNH	B	1.22%	1.29%	1.22%
UNP	D	0.38%	0.27%	0.27%
UPS	D	0.29%	0.06%	0.06%
URI	C	0.13%	0.02%	0.02%
USB	D	0.3%	0.08%	0.08%
V	C	0.33%	1.11%	0.33%
VICI	C	0.03%	0.02%	0.02%
VLO	D	0.38%	0.07%	0.07%
VMC	D	0.04%	0.01%	0.01%
VRSK	C	0.04%	0.0%	0.0%
VRSN	B	0.01%	0.14%	0.01%
VRTX	D	0.07%	0.42%	0.07%
VST	B	0.14%	0.01%	0.01%
VTR	C	0.08%	0.01%	0.01%
VTRS	D	0.09%	0.03%	0.03%
VZ	B	1.27%	0.6%	0.6%
WAB	B	0.06%	0.01%	0.01%
WAT	B	0.04%	0.04%	0.04%
WBA	F	0.18%	0.04%	0.04%
WBD	D	0.07%	0.06%	0.06%
WDC	C	0.13%	0.01%	0.01%
WEC	A	0.08%	0.19%	0.08%
WELL	C	0.1%	0.02%	0.02%
WFC	F	1.06%	0.21%	0.21%
WLK	C	0.02%	0.0%	0.0%
WM	B	0.14%	0.49%	0.14%
WMB	A	0.14%	0.16%	0.14%
WMT	A	1.42%	0.72%	0.72%
WPC	C	0.02%	0.01%	0.01%
WRB	C	0.03%	0.13%	0.03%
WSM	B	0.05%	0.04%	0.04%
WSO	C	0.03%	0.03%	0.03%
WST	D	0.02%	0.03%	0.02%
WTRG	D	0.01%	0.01%	0.01%
WTW	C	0.07%	0.07%	0.07%
WY	C	0.1%	0.02%	0.02%
XEL	B	0.12%	0.08%	0.08%
XOM	A	1.96%	0.46%	0.46%
XRX	D	0.02%	0.0%	0.0%
XYL	C	0.04%	0.01%	0.01%
YUM	B	0.08%	0.14%	0.08%
ZBH	F	0.05%	0.01%	0.01%
ZBRA	C	0.04%	0.01%	0.01%
ZTS	C	0.08%	0.16%	0.08%

FNDX Overweight 220 Positions Relative to QWLD

Symbol	Grade	Weight
LUMN	C	0.56%
FI	A	0.11%
JLL	C	0.09%
ARW	C	0.09%
WKC	B	0.09%
AVT	C	0.08%
MHK	B	0.07%
USFD	C	0.07%
X	F	0.07%
THC	D	0.07%
KSS	D	0.07%
WHR	C	0.07%
AN	D	0.06%
FLEX	C	0.06%
M	F	0.06%
OGN	F	0.06%
BWA	C	0.06%
AA	B	0.06%
TOL	A	0.06%
PFGC	A	0.06%
CMA	C	0.06%
LEA	F	0.06%
LAD	C	0.06%
R	C	0.06%
VFC	B	0.06%
TPR	C	0.05%
BFH	D	0.05%
ORI	B	0.05%
ZION	D	0.05%
UNM	A	0.05%
JEF	A	0.05%
UGI	C	0.05%
GPI	C	0.05%
IVZ	B	0.05%
CASY	D	0.05%
DXC	B	0.05%
LNC	D	0.05%
MAN	D	0.05%
OMF	F	0.05%
LPX	C	0.04%
FL	F	0.04%
AMG	B	0.04%
CLF	F	0.04%
HAS	B	0.04%
GAP	F	0.04%
AYI	A	0.04%
MTH	C	0.04%
ZIM	C	0.04%
WCC	D	0.04%
MTD	B	0.04%
RHI	D	0.04%
SLM	C	0.04%
BCC	C	0.04%
WU	D	0.04%
EVR	C	0.04%
UFPI	C	0.04%
GT	F	0.04%
RGA	C	0.04%
GEN	B	0.04%
SWN	D	0.04%
FYBR	C	0.04%
TMHC	C	0.04%
OLN	C	0.04%
DOX	B	0.04%
MUSA	D	0.04%
JXN	A	0.04%
TDS	B	0.04%
SFM	A	0.04%
KD	D	0.04%
PVH	F	0.04%
PNW	B	0.04%
ALSN	A	0.04%
HUN	C	0.04%
FAF	C	0.04%
FBIN	B	0.04%
VNO	A	0.04%
INGR	B	0.04%
THO	C	0.04%
BERY	C	0.04%
SCI	D	0.03%
AR	B	0.03%
NSIT	B	0.03%
SKX	D	0.03%
CAR	F	0.03%
EWBC	D	0.03%
FHN	D	0.03%
LSTR	F	0.03%
FLR	C	0.03%
BTU	B	0.03%
SEE	D	0.03%
PII	D	0.03%
HOG	D	0.03%
ITT	C	0.03%
JHG	B	0.03%
ABG	F	0.03%
SON	D	0.03%
SAIC	A	0.03%
AAP	F	0.03%
GNTX	D	0.03%
MLI	C	0.03%
VOYA	A	0.03%
CIEN	A	0.03%
CPRI	B	0.03%
SNX	D	0.03%
RL	B	0.03%
NWL	F	0.03%
BC	D	0.03%
TPH	C	0.03%
RVTY	C	0.03%
ARMK	B	0.03%
KBH	C	0.03%
OGE	A	0.03%
GNW	C	0.03%
RRX	C	0.03%
MTZ	A	0.03%
SANM	D	0.03%
CMC	D	0.03%
FMC	C	0.03%
CACI	A	0.03%
GPK	D	0.03%
HBI	C	0.03%
OSK	F	0.03%
NXST	F	0.03%
GL	C	0.03%
CNO	C	0.03%
PBF	F	0.03%
VAC	D	0.02%
MTN	D	0.02%
ALV	F	0.02%
QRTEA	F	0.02%
MKSI	F	0.02%
BPOP	D	0.02%
FLO	D	0.02%
SM	C	0.02%
ODP	F	0.02%
DAN	D	0.02%
MIDD	D	0.02%
CRI	D	0.02%
WERN	D	0.02%
GXO	D	0.02%
KBR	B	0.02%
LECO	F	0.02%
AL	D	0.02%
ADNT	D	0.02%
HUBG	D	0.02%
POR	D	0.02%
SLG	C	0.02%
REZI	D	0.02%
BECN	D	0.02%
NFG	A	0.02%
OI	D	0.02%
TKR	D	0.02%
PENN	D	0.02%
XRAY	D	0.02%
ASGN	D	0.02%
NAVI	F	0.02%
TPX	C	0.02%
LEG	D	0.02%
MUR	F	0.02%
GNRC	B	0.02%
POST	D	0.02%
DCI	C	0.02%
PAG	D	0.02%
RUSHA	D	0.02%
NVT	D	0.02%
CZR	B	0.02%
NOV	F	0.02%
TGNA	C	0.02%
ABM	D	0.02%
STWD	C	0.02%
DAR	F	0.02%
BRX	C	0.02%
ATR	A	0.02%
SNV	D	0.02%
PRI	A	0.02%
AXTA	C	0.02%
ASO	D	0.02%
COR	F	0.02%
BJ	C	0.02%
ST	F	0.02%
THG	C	0.02%
MDU	C	0.02%
EHC	B	0.02%
PK	D	0.02%
MPW	C	0.02%
EXP	B	0.02%
LAMR	C	0.02%
G	A	0.02%
CC	D	0.02%
MTG	B	0.02%
CW	A	0.02%
BAP	B	0.02%
VSH	F	0.01%
ANDE	D	0.01%
DBX	B	0.01%
MSM	D	0.01%
JAZZ	F	0.01%
CHE	C	0.01%
CNXC	F	0.01%
MMS	C	0.01%
SPTN	C	0.01%
LILAK	D	0.01%
TNL	C	0.01%
AAL	D	0.01%
AEO	C	0.01%
BLD	D	0.01%
ICLR	D	0.01%
HTZ	F	0.01%
PRGO	F	0.01%
FTI	B	0.01%
UNFI	B	0.01%
CNX	A	0.01%
JWN	D	0.01%
CYH	C	0.01%
DK	F	0.01%
HRB	C	0.01%
ALK	C	0.01%
COHR	A	0.01%
MATX	C	0.01%
ARCH	C	0.01%

FNDX Underweight 101 Positions Relative to QWLD

Symbol	Grade	Weight
NVS	D	-0.88%
UL	D	-0.3%
WCN	D	-0.26%
MFG	D	-0.2%
ERIE	B	-0.16%
TM	D	-0.15%
TD	B	-0.14%
UTHR	C	-0.14%
DEO	C	-0.13%
E	B	-0.13%
INCY	B	-0.12%
MUFG	F	-0.12%
CNI	D	-0.11%
NBIX	F	-0.11%
BCS	D	-0.1%
SMFG	D	-0.09%
STLA	F	-0.09%
LYG	D	-0.09%
ROL	C	-0.08%
SONY	C	-0.08%
HMC	D	-0.08%
PTC	D	-0.07%
BMRN	F	-0.07%
MPWR	B	-0.06%
LOGI	D	-0.06%
MT	B	-0.05%
BTI	D	-0.05%
VLTO	A	-0.05%
SMCI	F	-0.04%
MANH	C	-0.04%
TPL	A	-0.04%
WDAY	D	-0.04%
FICO	A	-0.04%
VEEV	C	-0.04%
FDS	C	-0.03%
ENPH	F	-0.03%
MKTX	B	-0.02%
NMR	F	-0.02%
PAYC	D	-0.02%
OTEX	D	-0.01%
FOX	A	-0.01%
RPRX	D	-0.01%
ZM	C	-0.01%
MBAVU	C	-0.01%
SE	B	-0.01%
CHRD	F	-0.01%
ABNB	D	-0.01%
WFG	A	-0.01%
BSY	D	-0.01%
MELI	D	-0.01%
GLBE	C	-0.0%
IOT	C	-0.0%
NET	D	-0.0%
TOST	B	-0.0%
RBLX	D	-0.0%
DDOG	C	-0.0%
DKNG	D	-0.0%
SNAP	D	-0.0%
FUTU	B	-0.0%
MSTR	B	-0.0%
H	C	-0.0%
PSTG	F	-0.0%
DOCU	B	-0.0%
DAY	B	-0.0%
HEI	C	-0.0%
GRAB	C	-0.0%
DT	B	-0.0%
PINS	C	-0.0%
SNOW	F	-0.0%
PODD	C	-0.0%
WYNN	B	-0.0%
APP	A	-0.0%
HOOD	C	-0.0%
DXCM	F	-0.0%
CRWD	D	-0.0%
ROKU	B	-0.0%
OKTA	F	-0.0%
TECH	D	-0.0%
TTD	A	-0.0%
TYL	B	-0.0%
EXAS	C	-0.0%
TW	A	-0.0%
PLTR	A	-0.0%
AXON	A	-0.0%
Z	C	-0.0%
ELS	D	-0.0%
HEI	C	-0.0%
LYV	B	-0.0%
VRT	B	-0.0%
ENTG	D	-0.0%
RIVN	F	-0.0%
DASH	B	-0.0%
COIN	F	-0.0%
QGEN	F	-0.0%
RCL	C	-0.0%
BIO	B	-0.0%
MTCH	B	-0.0%
CSGP	F	-0.0%
ARES	A	-0.0%
TWLO	B	-0.0%
AMH	D	-0.0%