GUSA vs. QDEF ETF Comparison

Comparison of Goldman Sachs MarketBeta U.S. 1000 Equity ETF (GUSA) to FlexShares Quality Dividend Defensive Index Fund (QDEF)

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

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

$72.91

Average Daily Volume

6,852

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

Performance

Period	GUSA	QDEF
30 Days	3.03%	1.58%
60 Days	5.42%	2.63%
90 Days	7.24%	4.66%
12 Months	33.55%	30.49%

115 Overlapping Holdings

Symbol	Grade	Weight in GUSA	Weight in QDEF	Overlap
AAPL	C	6.17%	6.07%	6.07%
ABBV	D	0.54%	2.6%	0.54%
ADP	B	0.22%	1.13%	0.22%
AFL	B	0.1%	0.6%	0.1%
AIZ	A	0.02%	0.58%	0.02%
AMT	D	0.17%	0.82%	0.17%
AVB	B	0.06%	0.18%	0.06%
AVGO	D	1.38%	0.88%	0.88%
AVY	D	0.03%	0.48%	0.03%
BAC	A	0.57%	0.02%	0.02%
BAH	F	0.03%	0.12%	0.03%
BK	A	0.1%	0.67%	0.1%
BMY	B	0.22%	0.45%	0.22%
BPOP	B	0.01%	0.48%	0.01%
BSY	D	0.01%	0.37%	0.01%
BWXT	B	0.02%	0.64%	0.02%
CAH	B	0.05%	0.17%	0.05%
CFR	B	0.02%	0.6%	0.02%
CHE	D	0.01%	0.39%	0.01%
CI	F	0.16%	0.83%	0.16%
CME	A	0.15%	0.71%	0.15%
COR	B	0.08%	0.57%	0.08%
COST	B	0.75%	0.24%	0.24%
CPT	B	0.02%	0.51%	0.02%
CSCO	B	0.42%	0.61%	0.42%
CSL	C	0.04%	0.53%	0.04%
CUBE	D	0.02%	0.4%	0.02%
D	C	0.09%	0.56%	0.09%
DDS	B	0.01%	0.12%	0.01%
DELL	C	0.07%	0.46%	0.07%
DOX	D	0.02%	0.48%	0.02%
DPZ	C	0.03%	0.41%	0.03%
DUK	C	0.16%	0.77%	0.16%
EA	A	0.07%	0.6%	0.07%
EBAY	D	0.05%	0.4%	0.05%
ED	D	0.06%	0.49%	0.06%
EME	C	0.04%	0.64%	0.04%
EQR	B	0.05%	0.53%	0.05%
ESS	B	0.04%	0.54%	0.04%
EVRG	A	0.03%	0.4%	0.03%
EXC	C	0.07%	0.39%	0.07%
EXPD	D	0.03%	0.42%	0.03%
FAST	B	0.09%	0.58%	0.09%
FIS	C	0.09%	0.6%	0.09%
GEN	B	0.03%	0.59%	0.03%
GILD	C	0.2%	1.03%	0.2%
GIS	D	0.06%	0.45%	0.06%
GOOG	C	1.71%	1.1%	1.1%
GOOGL	C	1.9%	1.36%	1.36%
HD	A	0.74%	3.07%	0.74%
HRB	D	0.01%	0.45%	0.01%
IBM	C	0.35%	1.7%	0.35%
INTU	C	0.32%	1.29%	0.32%
IPG	D	0.02%	0.46%	0.02%
ITW	B	0.14%	0.74%	0.14%
JNJ	D	0.67%	2.93%	0.67%
JPM	A	1.26%	0.73%	0.73%
K	A	0.04%	0.53%	0.04%
KLAC	D	0.15%	0.79%	0.15%
KMB	D	0.08%	0.51%	0.08%
KO	D	0.44%	0.65%	0.44%
LDOS	C	0.04%	0.57%	0.04%
LMT	D	0.23%	1.05%	0.23%
LOW	D	0.27%	0.47%	0.27%
LSTR	D	0.01%	0.49%	0.01%
MA	C	0.78%	0.23%	0.23%
MAA	B	0.03%	0.53%	0.03%
MAS	D	0.03%	0.23%	0.03%
MCK	B	0.15%	0.71%	0.15%
MET	A	0.09%	0.53%	0.09%
META	D	2.23%	2.76%	2.23%
MMM	D	0.13%	0.66%	0.13%
MO	A	0.17%	0.86%	0.17%
MRK	F	0.45%	2.25%	0.45%
MSFT	F	5.59%	4.97%	4.97%
MSI	B	0.15%	0.74%	0.15%
MSM	C	0.01%	0.37%	0.01%
NNN	D	0.01%	0.21%	0.01%
NSA	D	0.01%	0.47%	0.01%
NVDA	C	6.32%	6.0%	6.0%
OGE	B	0.02%	0.47%	0.02%
OHI	C	0.02%	0.53%	0.02%
OMF	A	0.01%	0.5%	0.01%
ORI	A	0.02%	0.54%	0.02%
OTIS	C	0.07%	0.51%	0.07%
PAYX	C	0.08%	0.63%	0.08%
PEG	A	0.08%	0.26%	0.08%
PG	A	0.73%	2.83%	0.73%
PM	B	0.37%	1.65%	0.37%
PNW	B	0.02%	0.52%	0.02%
PPL	B	0.05%	0.55%	0.05%
PSA	D	0.1%	0.59%	0.1%
QCOM	F	0.33%	1.65%	0.33%
RMD	C	0.06%	0.54%	0.06%
ROL	B	0.03%	0.12%	0.03%
SAIC	F	0.01%	0.41%	0.01%
SBUX	A	0.2%	0.98%	0.2%
SCCO	F	0.02%	0.16%	0.02%
STNG	F	0.0%	0.36%	0.0%
STWD	C	0.01%	0.32%	0.01%
SWKS	F	0.02%	0.39%	0.02%
T	A	0.3%	0.77%	0.3%
TJX	A	0.25%	0.99%	0.25%
TMUS	B	0.21%	1.14%	0.21%
UNM	A	0.02%	0.65%	0.02%
V	A	0.95%	0.38%	0.38%
VRSK	A	0.07%	0.57%	0.07%
VRT	B	0.09%	0.45%	0.09%
VZ	C	0.32%	0.65%	0.32%
WEC	A	0.06%	0.28%	0.06%
WMT	A	0.69%	0.12%	0.12%
WSM	B	0.03%	0.41%	0.03%
WTW	B	0.06%	0.58%	0.06%
XOM	B	0.96%	0.5%	0.5%
ZTS	D	0.15%	0.11%	0.11%

GUSA Overweight 860 Positions Relative to QDEF

Symbol	Grade	Weight
AMZN	C	3.5%
TSLA	B	1.76%
BRK.A	B	1.13%
LLY	F	1.13%
UNH	C	0.97%
NFLX	A	0.67%
ORCL	B	0.56%
CRM	B	0.55%
CVX	A	0.5%
WFC	A	0.46%
AMD	F	0.41%
ADBE	C	0.4%
ACN	C	0.4%
LIN	D	0.39%
PEP	F	0.39%
MCD	D	0.38%
NOW	A	0.38%
ABT	B	0.37%
DIS	B	0.37%
ISRG	A	0.35%
GE	D	0.35%
TMO	F	0.35%
CAT	B	0.34%
GS	A	0.33%
TXN	C	0.33%
CMCSA	B	0.3%
MS	A	0.3%
BKNG	A	0.3%
SPGI	C	0.29%
RTX	C	0.29%
NEE	D	0.29%
AXP	A	0.29%
BLK	C	0.28%
HON	B	0.27%
DHR	F	0.27%
PGR	A	0.27%
AMGN	D	0.27%
UBER	D	0.26%
UNP	C	0.26%
PFE	D	0.26%
ETN	A	0.26%
AMAT	F	0.25%
COP	C	0.24%
BX	A	0.24%
BSX	B	0.24%
SYK	C	0.23%
PLTR	B	0.23%
PANW	C	0.23%
C	A	0.23%
SCHW	B	0.22%
FI	A	0.22%
CB	C	0.21%
VRTX	F	0.21%
MU	D	0.2%
MMC	B	0.2%
MDT	D	0.2%
KKR	A	0.19%
INTC	D	0.19%
ADI	D	0.19%
PLD	D	0.19%
SO	D	0.18%
UPS	C	0.18%
DE	A	0.18%
LRCX	F	0.17%
ANET	C	0.17%
ELV	F	0.17%
TT	A	0.17%
GEV	B	0.17%
MDLZ	F	0.16%
BA	F	0.16%
PYPL	B	0.16%
EQIX	A	0.16%
SHW	A	0.16%
NKE	D	0.16%
WM	A	0.16%
PH	A	0.16%
MELI	D	0.16%
ICE	C	0.16%
CMG	B	0.15%
CRWD	B	0.15%
PNC	B	0.15%
CDNS	B	0.15%
SNPS	B	0.15%
WELL	A	0.15%
APH	A	0.15%
EMR	A	0.14%
AON	A	0.14%
CTAS	B	0.14%
USB	A	0.14%
CL	D	0.14%
EOG	A	0.14%
MRVL	B	0.14%
REGN	F	0.14%
MSTR	C	0.14%
APO	B	0.13%
TDG	D	0.13%
ORLY	B	0.13%
CVS	D	0.13%
WMB	A	0.13%
NOC	D	0.13%
TGT	F	0.13%
APD	A	0.13%
APP	B	0.13%
CEG	D	0.13%
MCO	B	0.13%
FCX	D	0.12%
GD	F	0.12%
BDX	F	0.12%
COIN	C	0.12%
ADSK	A	0.12%
FDX	B	0.12%
OKE	A	0.12%
SPOT	B	0.12%
MAR	B	0.12%
CSX	B	0.12%
COF	B	0.12%
SPG	B	0.11%
NSC	B	0.11%
ROP	B	0.11%
TRV	B	0.11%
SRE	A	0.11%
HLT	A	0.11%
SLB	C	0.11%
DLR	B	0.11%
ECL	D	0.11%
GM	B	0.11%
TFC	A	0.11%
HCA	F	0.11%
CARR	D	0.11%
AJG	B	0.11%
RCL	A	0.1%
AZO	C	0.1%
VST	B	0.1%
MPC	D	0.1%
TTD	B	0.1%
URI	B	0.1%
WDAY	B	0.1%
PSX	C	0.1%
KMI	A	0.1%
FICO	B	0.1%
AMP	A	0.1%
JCI	C	0.1%
ABNB	C	0.1%
FTNT	C	0.1%
DASH	A	0.1%
PCAR	B	0.1%
DHI	D	0.09%
FLUT	A	0.09%
HWM	A	0.09%
PWR	A	0.09%
CPRT	A	0.09%
AIG	B	0.09%
LNG	B	0.09%
NEM	D	0.09%
CMI	A	0.09%
O	D	0.09%
SQ	B	0.09%
AEP	D	0.09%
GWW	B	0.09%
ALL	A	0.09%
IR	B	0.08%
SNOW	C	0.08%
DAL	C	0.08%
EW	C	0.08%
BKR	B	0.08%
F	C	0.08%
DFS	B	0.08%
RSG	A	0.08%
AXON	A	0.08%
TRGP	B	0.08%
PRU	A	0.08%
AME	A	0.08%
PCG	A	0.08%
KVUE	A	0.08%
CCI	D	0.08%
MSCI	C	0.08%
VLO	C	0.08%
ROST	C	0.08%
LHX	C	0.08%
MLM	B	0.07%
A	D	0.07%
SYY	B	0.07%
CHTR	C	0.07%
GLW	B	0.07%
VMC	B	0.07%
YUM	B	0.07%
MNST	C	0.07%
STZ	D	0.07%
CTSH	B	0.07%
XEL	A	0.07%
TEAM	A	0.07%
KR	B	0.07%
IT	C	0.07%
LEN	D	0.07%
ODFL	B	0.07%
DDOG	A	0.07%
CTVA	C	0.07%
CBRE	B	0.07%
HES	B	0.07%
RJF	A	0.06%
TTWO	A	0.06%
CNC	D	0.06%
DOW	F	0.06%
DD	D	0.06%
UAL	A	0.06%
ARES	A	0.06%
VEEV	C	0.06%
FITB	A	0.06%
ROK	B	0.06%
ETR	B	0.06%
GRMN	B	0.06%
FANG	D	0.06%
LULU	C	0.06%
TPL	A	0.06%
NDAQ	A	0.06%
EIX	B	0.06%
HUBS	A	0.06%
VICI	C	0.06%
KDP	D	0.06%
HUM	C	0.06%
IRM	D	0.06%
IDXX	F	0.06%
IQV	D	0.06%
WAB	B	0.06%
HIG	B	0.06%
MCHP	D	0.06%
ACGL	D	0.06%
NUE	C	0.06%
EXR	D	0.06%
GEHC	F	0.06%
HPQ	B	0.06%
OXY	D	0.06%
MTB	A	0.06%
NTAP	C	0.05%
CPAY	A	0.05%
EQT	B	0.05%
DTE	C	0.05%
ADM	D	0.05%
HSY	F	0.05%
SYF	B	0.05%
TYL	B	0.05%
GDDY	A	0.05%
CCL	B	0.05%
FCNCA	A	0.05%
HBAN	A	0.05%
TROW	B	0.05%
NVR	D	0.05%
VTR	C	0.05%
RBLX	C	0.05%
FTV	C	0.05%
BR	A	0.05%
BRO	B	0.05%
KEYS	A	0.05%
PHM	D	0.05%
CPNG	D	0.05%
HAL	C	0.05%
DECK	A	0.05%
AWK	D	0.05%
SW	A	0.05%
CHD	B	0.05%
DOV	A	0.05%
MPWR	F	0.05%
CVNA	B	0.05%
HPE	B	0.05%
PPG	F	0.05%
STT	A	0.05%
ON	D	0.05%
NET	B	0.05%
GPN	B	0.05%
XYL	D	0.05%
CSGP	D	0.05%
DXCM	D	0.05%
ANSS	B	0.05%
ALNY	D	0.05%
TSCO	D	0.05%
EFX	F	0.05%
STX	D	0.04%
IBKR	A	0.04%
LUV	C	0.04%
NRG	B	0.04%
INVH	D	0.04%
PFG	D	0.04%
ZBRA	B	0.04%
LYV	A	0.04%
LII	A	0.04%
LH	C	0.04%
IP	B	0.04%
ZM	B	0.04%
CNP	B	0.04%
DKNG	B	0.04%
STLD	B	0.04%
MDB	C	0.04%
WAT	B	0.04%
CMS	C	0.04%
CFG	B	0.04%
BLDR	D	0.04%
CLX	B	0.04%
STE	F	0.04%
LYB	F	0.04%
CBOE	B	0.04%
PKG	A	0.04%
MKL	A	0.04%
WBD	C	0.04%
ES	D	0.04%
TDY	B	0.04%
NTRS	A	0.04%
ILMN	D	0.04%
EXPE	B	0.04%
WST	C	0.04%
WDC	D	0.04%
ATO	A	0.04%
WY	D	0.04%
BIIB	F	0.04%
PTC	A	0.04%
ZBH	C	0.04%
IFF	D	0.04%
FE	C	0.04%
CINF	A	0.04%
VLTO	D	0.04%
SBAC	D	0.04%
CDW	F	0.04%
LPLA	A	0.04%
DVN	F	0.04%
KHC	F	0.04%
RF	A	0.04%
AEE	A	0.04%
HUBB	B	0.04%
MTD	D	0.04%
RVTY	F	0.03%
SAIA	B	0.03%
NDSN	B	0.03%
DT	C	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%
JBL	B	0.03%
AMCR	D	0.03%
SMCI	F	0.03%
SFM	A	0.03%
JBHT	C	0.03%
EWBC	A	0.03%
ACM	A	0.03%
AFRM	B	0.03%
TWLO	A	0.03%
EQH	B	0.03%
FLEX	A	0.03%
UTHR	C	0.03%
DOC	D	0.03%
GGG	B	0.03%
ENTG	D	0.03%
USFD	A	0.03%
VRSN	F	0.03%
RGA	A	0.03%
CASY	A	0.03%
GWRE	A	0.03%
TOL	B	0.03%
TXT	D	0.03%
L	A	0.03%
PSTG	D	0.03%
VTRS	A	0.03%
CF	B	0.03%
TW	A	0.03%
ALGN	D	0.03%
SSNC	B	0.03%
ULTA	F	0.03%
SUI	D	0.03%
LNT	A	0.03%
FNF	B	0.03%
HEI	B	0.03%
TER	D	0.03%
MRO	B	0.03%
DOCU	A	0.03%
TOST	B	0.03%
ARE	D	0.03%
J	F	0.03%
GPC	D	0.03%
MOH	F	0.03%
BBY	D	0.03%
KIM	A	0.03%
MANH	D	0.03%
BAX	D	0.03%
NI	A	0.03%
OC	A	0.03%
DG	F	0.03%
XPO	B	0.03%
NTNX	A	0.03%
RS	B	0.03%
TRMB	B	0.03%
FIX	A	0.03%
RPM	A	0.03%
IEX	B	0.03%
LVS	C	0.03%
PNR	A	0.03%
HOOD	B	0.03%
BURL	A	0.03%
TSN	B	0.03%
YUMC	C	0.03%
PINS	D	0.03%
DGX	A	0.03%
BALL	D	0.03%
KEY	B	0.03%
WRB	A	0.03%
WSO	A	0.03%
SNA	A	0.03%
HOLX	D	0.03%
PODD	C	0.03%
FDS	B	0.03%
MKC	D	0.03%
TRU	D	0.03%
FSLR	F	0.03%
ZS	C	0.03%
NTRA	B	0.03%
DRI	B	0.03%
OMC	C	0.03%
CTRA	B	0.03%
SKX	D	0.02%
RL	B	0.02%
MOS	F	0.02%
EGP	F	0.02%
RRC	B	0.02%
CPB	D	0.02%
GPK	C	0.02%
FRT	B	0.02%
TTC	D	0.02%
PR	B	0.02%
AOS	F	0.02%
PLNT	A	0.02%
SNX	C	0.02%
PCTY	B	0.02%
WYNN	D	0.02%
RBC	A	0.02%
CNH	C	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%
MORN	B	0.02%
PEN	B	0.02%
BILL	A	0.02%
X	C	0.02%
TPX	B	0.02%
KNX	B	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%
FBIN	D	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%
LKQ	D	0.02%
AAL	B	0.02%
GMED	A	0.02%
CRL	C	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%
ALLY	C	0.02%
EXAS	D	0.02%
LAD	A	0.02%
AES	F	0.02%
GL	B	0.02%
RGLD	C	0.02%
EHC	B	0.02%
RPRX	D	0.02%
LBRDK	C	0.02%
CACI	D	0.02%
AFG	A	0.02%
EXP	A	0.02%
MKTX	D	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%
IOT	A	0.02%
TECH	D	0.02%
BLD	D	0.02%
ERIE	D	0.02%
FND	C	0.02%
KNSL	B	0.02%
FHN	A	0.02%
GME	C	0.02%
CTLT	B	0.02%
WTRG	B	0.02%
EVR	B	0.02%
CCK	C	0.02%
GNRC	B	0.02%
LW	C	0.02%
TTEK	F	0.02%
OVV	B	0.02%
SNAP	C	0.02%
ATR	B	0.02%
NWSA	B	0.02%
NCLH	B	0.02%
PAYC	B	0.02%
LAMR	D	0.02%
UHS	D	0.02%
CG	A	0.02%
DAY	B	0.02%
JNPR	F	0.02%
SF	B	0.02%
BJ	A	0.02%
HEI	B	0.02%
DKS	C	0.02%
INCY	C	0.02%
LECO	B	0.02%
RRX	B	0.02%
BXP	D	0.02%
KMX	B	0.02%
BMRN	D	0.02%
AA	B	0.02%
Z	A	0.02%
SJM	D	0.02%
NBIX	C	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%
REG	B	0.02%
EG	C	0.02%
ALLE	D	0.02%
JLL	D	0.02%
ITT	A	0.02%
WPC	D	0.02%
FTI	A	0.02%
MRNA	F	0.02%
EPAM	C	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%
AVTR	F	0.02%
DLTR	F	0.02%
AKAM	D	0.02%
COHR	B	0.02%
GLPI	C	0.02%
SWK	D	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%
CRVL	A	0.01%
HUN	F	0.01%
NUVL	D	0.01%
NWS	B	0.01%
GFS	C	0.01%
DNB	B	0.01%
ZG	A	0.01%
ACHC	F	0.01%
IAC	D	0.01%
LANC	C	0.01%
PII	D	0.01%
MDU	D	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	C	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%
CHX	C	0.01%
U	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%
WBA	F	0.01%
PARA	C	0.01%
UHAL	D	0.01%
SITE	D	0.01%
ESI	A	0.01%
ARW	D	0.01%
GBCI	B	0.01%
BBWI	D	0.01%
MSA	D	0.01%
QRVO	F	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%
DINO	D	0.01%
MTH	D	0.01%
BIO	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%
HLNE	B	0.01%
BEN	C	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%
RIVN	F	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	C	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%
MTCH	D	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%
HII	D	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%
CZR	F	0.01%
VOYA	B	0.01%
CE	F	0.01%
APA	D	0.01%
SNV	B	0.01%
ENSG	D	0.01%
CHRD	D	0.01%
ONTO	D	0.01%
FLS	B	0.01%
SSB	B	0.01%
ENPH	F	0.01%
HAS	D	0.01%
SEIC	B	0.01%
NYT	C	0.01%
WTFC	A	0.01%
ACI	C	0.01%
AAON	B	0.01%
UWMC	D	0.0%
UHAL	D	0.0%
BLCO	D	0.0%
CWEN	C	0.0%
CNA	B	0.0%
LEN	D	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%
BOKF	B	0.0%

GUSA Underweight 8 Positions Relative to QDEF

Symbol	Grade	Weight
UMBF	B	-0.61%
VIRT	B	-0.57%
CSWI	A	-0.57%
WDFC	B	-0.55%
IRDM	D	-0.52%
RDN	C	-0.48%
WU	D	-0.43%
NEP	F	-0.32%