GUSA vs. INRO ETF Comparison

Comparison of Goldman Sachs MarketBeta U.S. 1000 Equity ETF (GUSA) to BlackRock U.S. Industry Rotation ETF (INRO)

GUSA

Goldman Sachs MarketBeta U.S. 1000 Equity ETF

GUSA Description

The fund seeks to invest at least 80% of its assets in securities included in its underlying index, in depositary receipts representing securities included in its underlying index and in underlying stocks in respect of depositary receipts included in its underlying index. The index is designed to measure the performance of equity securities of large and mid-capitalization equity issuers covering approximately the largest 1,000 of the free-float market capitalization in the U.S.

Grade (RS Rating)

Last Trade

$51.97

Average Daily Volume

6,962

Number of Holdings ^*

975

* may have additional holdings in another (foreign) market

INRO

BlackRock U.S. Industry Rotation ETF

INRO Description

INRO is targeted US equity exposure, actively managed by shifting the selection and weighting of the portfolio towards industries among the broad domestic market. Portfolio allocation is based on five potential sources of return: information regarding the current economic cycle, valuation, quality metrics, analyst expectation data and recent individual industry trends. The strategy aims to capture the potential alpha from the dispersion between industry allocations and the broad market. During temporary defensive periods, the fund may depart from this principal investment strategy to invest 100% of the portfolio in liquid, short-term securities. The fund may engage in active and frequent trading. Derivatives may also be used to seek returns or hedge exposure. Up to one-third of the value of the funds assets may be lending.

Grade (RS Rating)

Last Trade

$28.39

Average Daily Volume

3,548

Number of Holdings ^*

423

* may have additional holdings in another (foreign) market

Performance

Period	GUSA	INRO
30 Days	3.03%	5.09%
60 Days	5.42%	6.25%
90 Days	7.24%	7.10%
12 Months	33.55%

425 Overlapping Holdings

Symbol	Grade	Weight in GUSA	Weight in INRO	Overlap
A	D	0.07%	0.05%	0.05%
AAPL	C	6.17%	5.57%	5.57%
ABBV	D	0.54%	0.4%	0.4%
ACGL	D	0.06%	0.06%	0.06%
ACI	C	0.01%	0.01%	0.01%
ACM	B	0.03%	0.11%	0.03%
ACN	C	0.4%	0.07%	0.07%
ADBE	C	0.4%	0.32%	0.32%
ADI	D	0.19%	0.23%	0.19%
ADP	B	0.22%	0.29%	0.22%
ADSK	A	0.12%	0.1%	0.1%
AEP	D	0.09%	0.31%	0.09%
AES	F	0.02%	0.03%	0.02%
AFG	A	0.02%	0.02%	0.02%
AFL	B	0.1%	0.09%	0.09%
AIG	B	0.09%	0.08%	0.08%
AIZ	A	0.02%	0.02%	0.02%
AJG	B	0.11%	0.09%	0.09%
ALL	A	0.09%	0.08%	0.08%
ALLE	D	0.02%	0.09%	0.02%
ALLY	C	0.02%	0.02%	0.02%
ALNY	D	0.05%	0.05%	0.05%
AMAT	F	0.25%	0.32%	0.25%
AMCR	D	0.03%	0.07%	0.03%
AMD	F	0.41%	0.49%	0.41%
AME	A	0.08%	0.14%	0.08%
AMGN	D	0.27%	0.22%	0.22%
AMP	A	0.1%	0.17%	0.1%
AMT	D	0.17%	0.11%	0.11%
AMZN	C	3.5%	1.46%	1.46%
ANSS	B	0.05%	0.05%	0.05%
AON	A	0.14%	0.11%	0.11%
AOS	F	0.02%	0.06%	0.02%
APA	D	0.01%	0.01%	0.01%
APD	A	0.13%	0.01%	0.01%
APH	A	0.15%	0.19%	0.15%
APO	B	0.13%	0.01%	0.01%
APP	B	0.13%	0.08%	0.08%
ARE	D	0.03%	0.04%	0.03%
ARES	A	0.06%	0.11%	0.06%
ATO	A	0.04%	0.05%	0.04%
AVB	B	0.06%	0.01%	0.01%
AVGO	D	1.38%	1.64%	1.38%
AVTR	F	0.02%	0.02%	0.02%
AVY	D	0.03%	0.07%	0.03%
AXON	A	0.08%	0.02%	0.02%
AXP	A	0.29%	1.14%	0.29%
AZO	C	0.1%	0.15%	0.1%
BA	F	0.16%	0.04%	0.04%
BAC	A	0.57%	0.79%	0.57%
BAH	F	0.03%	0.06%	0.03%
BALL	D	0.03%	0.08%	0.03%
BBWI	D	0.01%	0.02%	0.01%
BBY	D	0.03%	0.05%	0.03%
BEN	C	0.01%	0.03%	0.01%
BIIB	F	0.04%	0.03%	0.03%
BIO	D	0.01%	0.01%	0.01%
BK	A	0.1%	0.11%	0.1%
BKR	B	0.08%	0.07%	0.07%
BLDR	D	0.04%	0.15%	0.04%
BMRN	D	0.02%	0.02%	0.02%
BMY	B	0.22%	0.12%	0.12%
BR	A	0.05%	0.07%	0.05%
BRK.A	B	1.13%	0.06%	0.06%
BRO	B	0.05%	0.04%	0.04%
BSY	D	0.01%	0.02%	0.01%
BURL	A	0.03%	0.05%	0.03%
BX	A	0.24%	0.42%	0.24%
BXP	D	0.02%	1.38%	0.02%
C	A	0.23%	0.34%	0.23%
CARR	D	0.11%	0.42%	0.11%
CAT	B	0.34%	0.36%	0.34%
CB	C	0.21%	0.16%	0.16%
CBOE	B	0.04%	0.04%	0.04%
CBRE	B	0.07%	0.88%	0.07%
CCI	D	0.08%	0.05%	0.05%
CCK	C	0.02%	0.05%	0.02%
CDNS	B	0.15%	0.12%	0.12%
CDW	F	0.04%	0.06%	0.04%
CEG	D	0.13%	0.45%	0.13%
CFG	B	0.04%	0.05%	0.04%
CG	A	0.02%	0.04%	0.02%
CHRD	D	0.01%	0.01%	0.01%
CINF	A	0.04%	0.04%	0.04%
CME	A	0.15%	0.26%	0.15%
CMI	A	0.09%	0.09%	0.09%
CNH	C	0.02%	0.02%	0.02%
COF	B	0.12%	0.49%	0.12%
COIN	C	0.12%	0.2%	0.12%
COP	C	0.24%	0.23%	0.23%
COST	B	0.75%	0.46%	0.46%
CPRT	A	0.09%	0.21%	0.09%
CPT	B	0.02%	0.0%	0.0%
CRL	C	0.02%	0.02%	0.02%
CRM	B	0.55%	0.47%	0.47%
CRWD	B	0.15%	0.11%	0.11%
CSGP	D	0.05%	0.65%	0.05%
CSL	C	0.04%	0.15%	0.04%
CSX	B	0.12%	0.26%	0.12%
CTAS	B	0.14%	0.34%	0.14%
CTLT	B	0.02%	0.01%	0.01%
CTRA	B	0.03%	0.03%	0.03%
CTSH	B	0.07%	0.02%	0.02%
CVX	A	0.5%	0.48%	0.48%
DAL	C	0.08%	0.03%	0.03%
DAY	B	0.02%	0.03%	0.02%
DDOG	A	0.07%	0.05%	0.05%
DE	A	0.18%	0.2%	0.18%
DELL	C	0.07%	0.07%	0.07%
DFS	B	0.08%	0.31%	0.08%
DG	F	0.03%	0.01%	0.01%
DHI	D	0.09%	0.33%	0.09%
DHR	F	0.27%	0.2%	0.2%
DINO	D	0.01%	0.01%	0.01%
DKS	C	0.02%	0.03%	0.02%
DLR	B	0.11%	0.07%	0.07%
DLTR	F	0.02%	0.01%	0.01%
DOC	D	0.03%	0.03%	0.03%
DOCU	A	0.03%	0.02%	0.02%
DOV	A	0.05%	0.06%	0.05%
DT	C	0.03%	0.03%	0.03%
DUK	C	0.16%	0.53%	0.16%
DVN	F	0.04%	0.04%	0.04%
EBAY	D	0.05%	0.02%	0.02%
EFX	F	0.05%	0.08%	0.05%
EG	C	0.02%	0.03%	0.02%
EIX	B	0.06%	0.2%	0.06%
EME	C	0.04%	0.19%	0.04%
EMR	A	0.14%	0.24%	0.14%
ENPH	F	0.01%	0.02%	0.01%
ENTG	D	0.03%	0.03%	0.03%
EOG	A	0.14%	0.14%	0.14%
EPAM	C	0.02%	0.01%	0.01%
EQIX	A	0.16%	0.1%	0.1%
EQR	B	0.05%	0.01%	0.01%
EQT	B	0.05%	0.04%	0.04%
ERIE	D	0.02%	0.02%	0.02%
ES	D	0.04%	0.13%	0.04%
ESS	B	0.04%	0.01%	0.01%
ETN	A	0.26%	0.48%	0.26%
ETR	B	0.06%	0.2%	0.06%
EVRG	A	0.03%	0.1%	0.03%
EXAS	D	0.02%	0.01%	0.01%
EXC	C	0.07%	0.24%	0.07%
EXPD	D	0.03%	0.0%	0.0%
EXR	D	0.06%	0.04%	0.04%
F	C	0.08%	0.06%	0.06%
FANG	D	0.06%	0.06%	0.06%
FAST	B	0.09%	0.41%	0.09%
FBIN	D	0.02%	0.07%	0.02%
FCNCA	A	0.05%	0.05%	0.05%
FCX	D	0.12%	0.11%	0.11%
FDS	B	0.03%	0.07%	0.03%
FDX	B	0.12%	0.02%	0.02%
FE	C	0.04%	0.15%	0.04%
FI	A	0.22%	0.01%	0.01%
FICO	B	0.1%	0.08%	0.08%
FIS	C	0.09%	0.01%	0.01%
FITB	A	0.06%	0.08%	0.06%
FNF	B	0.03%	0.0%	0.0%
FSLR	F	0.03%	0.04%	0.03%
FTNT	C	0.1%	0.09%	0.09%
FTV	C	0.05%	0.05%	0.05%
GD	F	0.12%	0.03%	0.03%
GDDY	A	0.05%	0.01%	0.01%
GE	D	0.35%	0.08%	0.08%
GEN	B	0.03%	0.03%	0.03%
GEV	B	0.17%	0.31%	0.17%
GGG	B	0.03%	0.03%	0.03%
GILD	C	0.2%	0.16%	0.16%
GLPI	C	0.02%	0.02%	0.02%
GLW	B	0.07%	0.09%	0.07%
GM	B	0.11%	0.09%	0.09%
GOOG	C	1.71%	2.71%	1.71%
GOOGL	C	1.9%	3.12%	1.9%
GRMN	B	0.06%	0.22%	0.06%
GS	A	0.33%	0.62%	0.33%
GWW	B	0.09%	0.46%	0.09%
HAL	C	0.05%	0.04%	0.04%
HBAN	A	0.05%	0.07%	0.05%
HD	A	0.74%	1.16%	0.74%
HEI	B	0.02%	0.01%	0.01%
HEI	B	0.02%	0.0%	0.0%
HEI	B	0.03%	0.01%	0.01%
HEI	B	0.03%	0.0%	0.0%
HES	B	0.07%	0.07%	0.07%
HIG	B	0.06%	0.05%	0.05%
HII	D	0.01%	0.0%	0.0%
HON	B	0.27%	1.56%	0.27%
HOOD	B	0.03%	0.05%	0.03%
HPE	B	0.05%	0.05%	0.05%
HPQ	A	0.06%	0.06%	0.06%
HUBB	B	0.04%	0.08%	0.04%
HUBS	A	0.06%	0.05%	0.05%
HWM	A	0.09%	0.02%	0.02%
IBM	C	0.35%	0.06%	0.06%
ICE	C	0.16%	0.29%	0.16%
IEX	B	0.03%	0.03%	0.03%
ILMN	D	0.04%	0.03%	0.03%
INCY	C	0.02%	0.02%	0.02%
INTC	D	0.19%	0.22%	0.19%
INTU	C	0.32%	0.28%	0.28%
INVH	D	0.04%	0.01%	0.01%
IOT	A	0.02%	0.02%	0.02%
IP	B	0.04%	0.09%	0.04%
IQV	D	0.06%	0.05%	0.05%
IR	B	0.08%	0.08%	0.08%
IRM	D	0.06%	0.04%	0.04%
IT	C	0.07%	0.02%	0.02%
ITW	B	0.14%	0.15%	0.14%
J	F	0.03%	0.04%	0.03%
JBHT	C	0.03%	0.06%	0.03%
JBL	B	0.03%	0.03%	0.03%
JCI	C	0.1%	0.4%	0.1%
JNJ	D	0.67%	0.36%	0.36%
JPM	A	1.26%	1.68%	1.26%
KEY	B	0.03%	0.05%	0.03%
KEYS	A	0.05%	0.06%	0.05%
KKR	A	0.19%	0.31%	0.19%
KLAC	D	0.15%	0.18%	0.15%
KMI	A	0.1%	0.1%	0.1%
KMX	B	0.02%	0.04%	0.02%
KNX	B	0.02%	0.04%	0.02%
KR	B	0.07%	0.05%	0.05%
L	A	0.03%	0.03%	0.03%
LDOS	C	0.04%	0.06%	0.04%
LEN	D	0.07%	0.28%	0.07%
LEN	D	0.0%	0.28%	0.0%
LHX	C	0.08%	0.02%	0.02%
LII	A	0.04%	0.14%	0.04%
LIN	D	0.39%	0.02%	0.02%
LLY	F	1.13%	0.64%	0.64%
LMT	D	0.23%	0.05%	0.05%
LNG	B	0.09%	0.09%	0.09%
LNT	A	0.03%	0.1%	0.03%
LOW	D	0.27%	0.45%	0.27%
LPLA	A	0.04%	0.07%	0.04%
LRCX	F	0.17%	0.21%	0.17%
LUV	C	0.04%	0.01%	0.01%
MA	C	0.78%	0.04%	0.04%
MAA	B	0.03%	0.01%	0.01%
MANH	D	0.03%	0.03%	0.03%
MAS	D	0.03%	0.12%	0.03%
MCHP	F	0.06%	0.08%	0.06%
MCO	B	0.13%	0.26%	0.13%
MDB	C	0.04%	0.01%	0.01%
MELI	D	0.16%	0.07%	0.07%
MET	A	0.09%	0.08%	0.08%
META	D	2.23%	3.77%	2.23%
MKL	A	0.04%	0.04%	0.04%
MKTX	D	0.02%	0.03%	0.02%
MLM	B	0.07%	0.59%	0.07%
MMC	B	0.2%	0.16%	0.16%
MMM	D	0.13%	0.78%	0.13%
MO	A	0.17%	0.39%	0.17%
MPC	D	0.1%	0.1%	0.1%
MPWR	F	0.05%	0.06%	0.05%
MRK	F	0.45%	0.24%	0.24%
MRNA	F	0.02%	0.02%	0.02%
MRO	B	0.03%	0.03%	0.03%
MRVL	B	0.14%	0.17%	0.14%
MS	A	0.3%	0.52%	0.3%
MSCI	C	0.08%	0.15%	0.08%
MSFT	F	5.59%	4.18%	4.18%
MSTR	C	0.14%	0.08%	0.08%
MTB	A	0.06%	0.09%	0.06%
MTCH	D	0.01%	0.02%	0.01%
MTD	D	0.04%	0.04%	0.04%
MU	D	0.2%	0.25%	0.2%
NBIX	C	0.02%	0.02%	0.02%
NDAQ	A	0.06%	0.12%	0.06%
NDSN	B	0.03%	0.03%	0.03%
NEE	D	0.29%	0.94%	0.29%
NEM	D	0.09%	0.11%	0.09%
NET	B	0.05%	0.01%	0.01%
NOC	D	0.13%	0.03%	0.03%
NOW	A	0.38%	0.3%	0.3%
NRG	B	0.04%	0.12%	0.04%
NSC	B	0.11%	0.23%	0.11%
NTAP	C	0.05%	0.04%	0.04%
NTRS	A	0.04%	0.08%	0.04%
NUE	C	0.06%	0.01%	0.01%
NVDA	C	6.32%	7.42%	6.32%
NVR	D	0.05%	0.22%	0.05%
OC	A	0.03%	0.11%	0.03%
ODFL	B	0.07%	0.17%	0.07%
OKE	A	0.12%	0.11%	0.11%
ON	D	0.05%	0.06%	0.05%
ORCL	B	0.56%	0.44%	0.44%
ORLY	B	0.13%	0.21%	0.13%
OTIS	C	0.07%	0.08%	0.07%
OVV	B	0.02%	0.02%	0.02%
OXY	D	0.06%	0.06%	0.06%
PANW	C	0.23%	0.18%	0.18%
PAYC	B	0.02%	0.03%	0.02%
PAYX	C	0.08%	0.11%	0.08%
PCAR	B	0.1%	0.11%	0.1%
PCG	A	0.08%	0.26%	0.08%
PFE	D	0.26%	0.14%	0.14%
PFG	D	0.04%	0.04%	0.04%
PGR	A	0.27%	0.23%	0.23%
PH	A	0.16%	0.17%	0.16%
PHM	D	0.05%	0.19%	0.05%
PINS	D	0.03%	0.05%	0.03%
PKG	A	0.04%	0.1%	0.04%
PLTR	B	0.23%	0.17%	0.17%
PM	B	0.37%	0.83%	0.37%
PNC	B	0.15%	0.2%	0.15%
PNR	A	0.03%	0.04%	0.03%
PPL	B	0.05%	0.05%	0.05%
PRU	A	0.08%	0.07%	0.07%
PSA	D	0.1%	0.07%	0.07%
PSTG	D	0.03%	0.03%	0.03%
PSX	C	0.1%	0.1%	0.1%
PTC	A	0.04%	0.04%	0.04%
PWR	A	0.09%	0.37%	0.09%
PYPL	B	0.16%	0.01%	0.01%
QCOM	F	0.33%	0.39%	0.33%
QRVO	F	0.01%	0.01%	0.01%
REGN	F	0.14%	0.12%	0.12%
RF	A	0.04%	0.07%	0.04%
RIVN	F	0.01%	0.01%	0.01%
RJF	A	0.06%	0.11%	0.06%
ROK	B	0.06%	0.1%	0.06%
ROL	B	0.03%	0.06%	0.03%
ROP	B	0.11%	0.09%	0.09%
ROST	C	0.08%	0.14%	0.08%
RPRX	D	0.02%	0.01%	0.01%
RS	B	0.03%	0.01%	0.01%
RSG	A	0.08%	0.2%	0.08%
RTX	C	0.29%	0.07%	0.07%
RVTY	F	0.03%	0.02%	0.02%
SBAC	D	0.04%	0.03%	0.03%
SCHW	B	0.22%	0.37%	0.22%
SEIC	B	0.01%	0.02%	0.01%
SHW	A	0.16%	0.01%	0.01%
SLB	C	0.11%	0.09%	0.09%
SMCI	F	0.03%	0.02%	0.02%
SNA	A	0.03%	0.04%	0.03%
SNAP	C	0.02%	0.04%	0.02%
SNOW	C	0.08%	0.01%	0.01%
SNPS	B	0.15%	0.12%	0.12%
SO	D	0.18%	0.59%	0.18%
SPGI	C	0.29%	0.52%	0.29%
SSNC	B	0.03%	0.03%	0.03%
STLD	B	0.04%	0.01%	0.01%
STT	A	0.05%	0.05%	0.05%
STX	D	0.04%	0.04%	0.04%
SUI	D	0.03%	0.01%	0.01%
SW	A	0.05%	0.12%	0.05%
SWK	D	0.02%	0.03%	0.02%
SWKS	F	0.02%	0.03%	0.02%
SYF	B	0.05%	0.18%	0.05%
SYY	B	0.07%	0.04%	0.04%
TDG	D	0.13%	0.03%	0.03%
TDY	B	0.04%	0.05%	0.04%
TEAM	A	0.07%	0.06%	0.06%
TECH	D	0.02%	0.02%	0.02%
TER	D	0.03%	0.03%	0.03%
TFC	A	0.11%	0.15%	0.11%
TGT	F	0.13%	0.08%	0.08%
TJX	A	0.25%	0.38%	0.25%
TMO	F	0.35%	0.26%	0.26%
TMUS	B	0.21%	4.59%	0.21%
TPL	A	0.06%	0.05%	0.05%
TRGP	B	0.08%	0.07%	0.07%
TRMB	B	0.03%	0.04%	0.03%
TROW	B	0.05%	0.05%	0.05%
TRU	D	0.03%	0.05%	0.03%
TRV	B	0.11%	0.09%	0.09%
TSCO	D	0.05%	0.09%	0.05%
TSLA	B	1.76%	1.32%	1.32%
TT	A	0.17%	0.65%	0.17%
TTC	D	0.02%	0.02%	0.02%
TW	A	0.03%	0.05%	0.03%
TWLO	A	0.03%	0.01%	0.01%
TXN	C	0.33%	0.41%	0.33%
TXT	D	0.03%	0.01%	0.01%
TYL	C	0.05%	0.04%	0.04%
UBER	D	0.26%	0.5%	0.26%
UHAL	D	0.0%	0.02%	0.0%
UHAL	D	0.01%	0.02%	0.01%
ULTA	F	0.03%	0.05%	0.03%
UNH	C	0.97%	0.01%	0.01%
UNP	C	0.26%	0.55%	0.26%
UPS	C	0.18%	0.03%	0.03%
URI	B	0.1%	0.5%	0.1%
USB	A	0.14%	0.2%	0.14%
UTHR	C	0.03%	0.02%	0.02%
V	A	0.95%	0.04%	0.04%
VICI	C	0.06%	0.05%	0.05%
VLO	C	0.08%	0.08%	0.08%
VLTO	D	0.04%	0.11%	0.04%
VMC	B	0.07%	0.61%	0.07%
VRSK	A	0.07%	0.09%	0.07%
VRSN	F	0.03%	0.01%	0.01%
VRT	B	0.09%	0.14%	0.09%
VRTX	F	0.21%	0.17%	0.17%
VST	B	0.1%	0.17%	0.1%
VTR	C	0.05%	0.06%	0.05%
VTRS	A	0.03%	0.01%	0.01%
WAB	B	0.06%	0.07%	0.06%
WAT	B	0.04%	0.03%	0.03%
WBA	F	0.01%	0.01%	0.01%
WDAY	B	0.1%	0.08%	0.08%
WDC	D	0.04%	0.04%	0.04%
WELL	A	0.15%	0.18%	0.15%
WFC	A	0.46%	0.62%	0.46%
WM	A	0.16%	0.37%	0.16%
WMB	A	0.13%	0.12%	0.12%
WMT	A	0.69%	0.41%	0.41%
WRB	A	0.03%	0.03%	0.03%
WSM	B	0.03%	0.05%	0.03%
WSO	A	0.03%	0.16%	0.03%
WST	C	0.04%	0.03%	0.03%
WTW	B	0.06%	0.05%	0.05%
WY	D	0.04%	0.03%	0.03%
XEL	A	0.07%	0.23%	0.07%
XOM	B	0.96%	0.95%	0.95%
XYL	D	0.05%	0.06%	0.05%
Z	A	0.02%	0.25%	0.02%
ZBRA	B	0.04%	0.04%	0.04%
ZM	B	0.04%	0.04%	0.04%
ZS	C	0.03%	0.03%	0.03%
ZTS	D	0.15%	0.08%	0.08%

GUSA Overweight 552 Positions Relative to INRO

Symbol	Grade	Weight
PG	A	0.73%
NFLX	A	0.67%
KO	D	0.44%
CSCO	B	0.42%
PEP	F	0.39%
MCD	D	0.38%
ABT	B	0.37%
DIS	B	0.37%
ISRG	A	0.35%
VZ	C	0.32%
CMCSA	B	0.3%
T	A	0.3%
BKNG	A	0.3%
BLK	C	0.28%
BSX	B	0.24%
SYK	C	0.23%
MDT	D	0.2%
SBUX	A	0.2%
PLD	D	0.19%
ANET	C	0.17%
ELV	F	0.17%
MDLZ	F	0.16%
NKE	D	0.16%
CI	F	0.16%
MCK	B	0.15%
CMG	B	0.15%
MSI	B	0.15%
CL	D	0.14%
CVS	D	0.13%
BDX	F	0.12%
SPOT	B	0.12%
MAR	B	0.12%
SPG	B	0.11%
SRE	A	0.11%
HLT	A	0.11%
ECL	D	0.11%
HCA	F	0.11%
RCL	A	0.1%
TTD	B	0.1%
ABNB	C	0.1%
DASH	A	0.1%
FLUT	A	0.09%
D	C	0.09%
O	D	0.09%
SQ	A	0.09%
EW	C	0.08%
COR	B	0.08%
PEG	A	0.08%
KVUE	A	0.08%
KMB	D	0.08%
CHTR	C	0.07%
YUM	B	0.07%
MNST	C	0.07%
STZ	D	0.07%
EA	A	0.07%
CTVA	C	0.07%
TTWO	A	0.06%
CNC	D	0.06%
DOW	F	0.06%
DD	D	0.06%
UAL	A	0.06%
VEEV	C	0.06%
WEC	A	0.06%
LULU	C	0.06%
KDP	D	0.06%
HUM	C	0.06%
ED	D	0.06%
IDXX	F	0.06%
RMD	C	0.06%
GIS	D	0.06%
GEHC	F	0.06%
CPAY	A	0.05%
DTE	C	0.05%
ADM	D	0.05%
HSY	F	0.05%
CCL	B	0.05%
RBLX	C	0.05%
CPNG	D	0.05%
DECK	A	0.05%
AWK	D	0.05%
CHD	B	0.05%
CVNA	B	0.05%
PPG	F	0.05%
CAH	B	0.05%
GPN	B	0.05%
DXCM	D	0.05%
IBKR	A	0.04%
LYV	A	0.04%
LH	C	0.04%
CNP	B	0.04%
DKNG	B	0.04%
CMS	C	0.04%
CLX	B	0.04%
STE	F	0.04%
LYB	F	0.04%
K	A	0.04%
WBD	C	0.04%
EXPE	B	0.04%
ZBH	C	0.04%
IFF	D	0.04%
KHC	F	0.04%
AEE	A	0.04%
SAIA	B	0.03%
APTV	D	0.03%
UDR	B	0.03%
EL	F	0.03%
POOL	C	0.03%
FFIV	B	0.03%
CW	B	0.03%
SFM	A	0.03%
EWBC	A	0.03%
AFRM	A	0.03%
EQH	B	0.03%
FLEX	A	0.03%
USFD	A	0.03%
RGA	A	0.03%
CASY	A	0.03%
GWRE	A	0.03%
TOL	B	0.03%
DPZ	C	0.03%
CF	B	0.03%
ALGN	F	0.03%
TOST	B	0.03%
GPC	D	0.03%
MOH	F	0.03%
KIM	A	0.03%
BAX	D	0.03%
NI	A	0.03%
XPO	B	0.03%
NTNX	A	0.03%
FIX	A	0.03%
RPM	A	0.03%
LVS	C	0.03%
TSN	B	0.03%
YUMC	C	0.03%
DGX	A	0.03%
HOLX	D	0.03%
PODD	C	0.03%
MKC	D	0.03%
NTRA	B	0.03%
DRI	B	0.03%
OMC	C	0.03%
SKX	D	0.02%
RL	B	0.02%
MOS	F	0.02%
CFR	B	0.02%
EGP	F	0.02%
RRC	B	0.02%
CPB	D	0.02%
GPK	C	0.02%
FRT	B	0.02%
PR	B	0.02%
PLNT	A	0.02%
SNX	C	0.02%
PCTY	B	0.02%
WYNN	D	0.02%
RBC	A	0.02%
CBSH	A	0.02%
CR	A	0.02%
HQY	B	0.02%
EXEL	B	0.02%
MGM	D	0.02%
AXTA	A	0.02%
ZION	B	0.02%
HRL	D	0.02%
GLOB	B	0.02%
RVMD	C	0.02%
HSIC	B	0.02%
WMS	D	0.02%
OGE	B	0.02%
MORN	B	0.02%
PEN	B	0.02%
BILL	A	0.02%
X	C	0.02%
TPX	B	0.02%
ORI	A	0.02%
AR	B	0.02%
QGEN	D	0.02%
FLR	B	0.02%
CMA	A	0.02%
CRS	A	0.02%
BRX	A	0.02%
MTZ	B	0.02%
FN	D	0.02%
SCCO	F	0.02%
TFX	F	0.02%
DCI	B	0.02%
ROKU	D	0.02%
WCC	B	0.02%
INGR	B	0.02%
SOLV	C	0.02%
TKO	B	0.02%
PNFP	B	0.02%
REXR	F	0.02%
DOX	D	0.02%
LKQ	D	0.02%
AAL	B	0.02%
GMED	A	0.02%
BRBR	A	0.02%
SRPT	D	0.02%
HLI	B	0.02%
ARMK	B	0.02%
CHDN	B	0.02%
CIEN	B	0.02%
WAL	B	0.02%
AYI	B	0.02%
LAD	A	0.02%
GL	B	0.02%
RGLD	C	0.02%
EHC	B	0.02%
LBRDK	C	0.02%
CACI	D	0.02%
OHI	C	0.02%
EXP	A	0.02%
MUSA	A	0.02%
WING	D	0.02%
PRI	A	0.02%
RDDT	B	0.02%
FOXA	B	0.02%
ALSN	B	0.02%
DTM	B	0.02%
PCVX	D	0.02%
WBS	A	0.02%
MLI	C	0.02%
AIT	A	0.02%
TAP	C	0.02%
WWD	B	0.02%
PNW	B	0.02%
BLD	D	0.02%
IPG	D	0.02%
FND	C	0.02%
KNSL	B	0.02%
FHN	A	0.02%
GME	C	0.02%
WTRG	B	0.02%
EVR	B	0.02%
GNRC	B	0.02%
LW	C	0.02%
TTEK	F	0.02%
ATR	B	0.02%
CUBE	D	0.02%
NWSA	B	0.02%
NCLH	B	0.02%
LAMR	D	0.02%
UHS	D	0.02%
JNPR	F	0.02%
SF	B	0.02%
BJ	A	0.02%
LECO	B	0.02%
RRX	B	0.02%
AA	B	0.02%
SJM	D	0.02%
INSM	C	0.02%
DUOL	A	0.02%
SCI	B	0.02%
EMN	D	0.02%
HST	C	0.02%
OKTA	C	0.02%
JEF	A	0.02%
BWXT	B	0.02%
REG	B	0.02%
JLL	D	0.02%
ITT	A	0.02%
WPC	D	0.02%
FTI	A	0.02%
CLH	B	0.02%
NVT	B	0.02%
ALB	C	0.02%
JKHY	D	0.02%
AMH	D	0.02%
BG	F	0.02%
PFGC	B	0.02%
CHRW	C	0.02%
ELS	C	0.02%
CAG	D	0.02%
TPR	B	0.02%
TXRH	C	0.02%
OWL	A	0.02%
AKAM	D	0.02%
COHR	B	0.02%
UNM	A	0.02%
THC	D	0.02%
RNR	C	0.02%
SOFI	A	0.02%
ADTN	A	0.01%
AMKR	D	0.01%
TNET	D	0.01%
HESM	B	0.01%
CACC	D	0.01%
SATS	D	0.01%
COLM	B	0.01%
PAG	B	0.01%
NSA	D	0.01%
CRVL	A	0.01%
HUN	F	0.01%
NUVL	D	0.01%
NWS	A	0.01%
GFS	C	0.01%
DNB	B	0.01%
ZG	A	0.01%
ACHC	F	0.01%
IAC	D	0.01%
DDS	B	0.01%
LANC	C	0.01%
PII	D	0.01%
MDU	D	0.01%
MSM	C	0.01%
ASGN	F	0.01%
RYN	D	0.01%
OPCH	D	0.01%
M	D	0.01%
OGN	D	0.01%
W	F	0.01%
ASH	D	0.01%
ZETA	D	0.01%
ENLC	A	0.01%
HOG	D	0.01%
XRAY	F	0.01%
SIG	B	0.01%
STEP	B	0.01%
FLO	D	0.01%
ROIV	C	0.01%
CELH	F	0.01%
NSIT	F	0.01%
WLK	D	0.01%
CHH	A	0.01%
WMG	C	0.01%
CIVI	D	0.01%
GAP	B	0.01%
DLB	B	0.01%
EEFT	B	0.01%
APPF	B	0.01%
AN	C	0.01%
SLGN	A	0.01%
PSN	D	0.01%
BRKR	D	0.01%
CHWY	B	0.01%
SWX	B	0.01%
KRC	C	0.01%
MGY	A	0.01%
BYD	C	0.01%
TENB	C	0.01%
FIVE	F	0.01%
CNM	D	0.01%
MUR	D	0.01%
ST	F	0.01%
IONS	F	0.01%
EXPO	D	0.01%
RH	B	0.01%
VKTX	F	0.01%
TKR	D	0.01%
SON	D	0.01%
MMS	F	0.01%
SN	D	0.01%
OLN	D	0.01%
HXL	D	0.01%
IBP	D	0.01%
PATH	C	0.01%
NXST	C	0.01%
FFIN	B	0.01%
AL	B	0.01%
SEE	C	0.01%
ABG	B	0.01%
HCP	B	0.01%
SM	B	0.01%
VVV	F	0.01%
INSP	D	0.01%
UGI	A	0.01%
QLYS	C	0.01%
OZK	B	0.01%
GATX	A	0.01%
POST	C	0.01%
BC	C	0.01%
CYTK	F	0.01%
AM	A	0.01%
LEA	D	0.01%
AMG	B	0.01%
LNTH	D	0.01%
CLF	F	0.01%
CRUS	D	0.01%
BROS	B	0.01%
UBSI	B	0.01%
SIRI	C	0.01%
NFG	A	0.01%
THO	B	0.01%
EDR	A	0.01%
PVH	C	0.01%
TPG	A	0.01%
FOX	A	0.01%
HALO	F	0.01%
ETSY	D	0.01%
IVZ	B	0.01%
RMBS	C	0.01%
WTS	B	0.01%
VNT	B	0.01%
JHG	A	0.01%
FOUR	B	0.01%
PCOR	B	0.01%
SUM	B	0.01%
AGCO	D	0.01%
LNC	B	0.01%
AUR	C	0.01%
THG	A	0.01%
ALTR	B	0.01%
ESNT	D	0.01%
CROX	D	0.01%
SAIC	F	0.01%
CHX	C	0.01%
U	C	0.01%
STWD	C	0.01%
WFRD	D	0.01%
SIGI	C	0.01%
BPMC	C	0.01%
LFUS	F	0.01%
IDA	A	0.01%
NOVT	D	0.01%
LYFT	C	0.01%
WHR	B	0.01%
PARA	C	0.01%
SITE	D	0.01%
ESI	A	0.01%
ARW	D	0.01%
GBCI	B	0.01%
MSA	D	0.01%
MAT	D	0.01%
DBX	B	0.01%
COLD	D	0.01%
NOV	C	0.01%
COKE	C	0.01%
CFLT	B	0.01%
BFAM	D	0.01%
MTN	C	0.01%
DOCS	C	0.01%
VNO	B	0.01%
MTH	D	0.01%
OMF	A	0.01%
LSTR	D	0.01%
SPSC	C	0.01%
MTDR	B	0.01%
FYBR	D	0.01%
ONB	B	0.01%
STAG	F	0.01%
ELAN	D	0.01%
WSC	D	0.01%
H	B	0.01%
RHP	B	0.01%
FAF	A	0.01%
ELF	C	0.01%
DAR	C	0.01%
MOD	A	0.01%
AXS	A	0.01%
RGEN	D	0.01%
LSCC	D	0.01%
AZEK	A	0.01%
LNW	D	0.01%
ALV	C	0.01%
AGNC	D	0.01%
BPOP	B	0.01%
HLNE	B	0.01%
FCN	D	0.01%
EXLS	B	0.01%
ALK	C	0.01%
CGNX	C	0.01%
GNTX	C	0.01%
VMI	B	0.01%
RYAN	B	0.01%
MTSI	B	0.01%
ANF	C	0.01%
GXO	B	0.01%
MKSI	C	0.01%
ESAB	B	0.01%
CMC	B	0.01%
TMHC	B	0.01%
FMC	D	0.01%
FR	D	0.01%
RLI	B	0.01%
OSK	B	0.01%
GTLS	B	0.01%
WEX	D	0.01%
S	B	0.01%
MHK	D	0.01%
ATI	D	0.01%
APG	B	0.01%
JAZZ	B	0.01%
DVA	B	0.01%
VFC	C	0.01%
RHI	B	0.01%
CRBG	B	0.01%
OLED	D	0.01%
LPX	B	0.01%
CVLT	B	0.01%
WH	B	0.01%
G	B	0.01%
MIDD	C	0.01%
ESTC	C	0.01%
MASI	A	0.01%
JXN	C	0.01%
TREX	C	0.01%
GTLB	B	0.01%
SMAR	A	0.01%
MEDP	D	0.01%
PB	A	0.01%
KEX	C	0.01%
ITCI	C	0.01%
UFPI	B	0.01%
GKOS	B	0.01%
BWA	D	0.01%
KBR	F	0.01%
SSD	D	0.01%
BERY	B	0.01%
ADC	B	0.01%
HRB	D	0.01%
CZR	F	0.01%
VOYA	B	0.01%
CE	F	0.01%
SNV	B	0.01%
CHE	D	0.01%
ENSG	D	0.01%
ONTO	D	0.01%
FLS	B	0.01%
SSB	B	0.01%
NNN	D	0.01%
HAS	D	0.01%
NYT	C	0.01%
WTFC	A	0.01%
AAON	B	0.01%
UWMC	D	0.0%
BLCO	D	0.0%
CWEN	C	0.0%
CNA	B	0.0%
BIRK	D	0.0%
DJT	C	0.0%
INFA	D	0.0%
LBRDA	C	0.0%
IMVT	F	0.0%
REYN	D	0.0%
LEVI	F	0.0%
RKT	F	0.0%
CLVT	F	0.0%
LCID	F	0.0%
IGT	F	0.0%
PPC	C	0.0%
SMMT	D	0.0%
RCM	F	0.0%
KNTK	B	0.0%
CWEN	C	0.0%
CPRI	F	0.0%
BBIO	F	0.0%
COTY	F	0.0%
AGR	B	0.0%
STNG	F	0.0%
BOKF	B	0.0%

GUSA Underweight 2 Positions Relative to INRO

	Symbol	Grade	Weight
	WCN	A	-0.2%
	NXPI	D	-0.12%