GVUS vs. QVML ETF Comparison

Comparison of Goldman Sachs MarketBeta Russell 1000 Value Equity ETF (GVUS) to Invesco S&P 500 QVM Multi-factor ETF (QVML)

GVUS

Goldman Sachs MarketBeta Russell 1000 Value Equity ETF

GVUS Description

The fund seeks to achieve its investment objective by investing at least 80% of its assets in equity securities included in its underlying index, in depositary receipts representing equity securities included in its underlying index, and in underlying stocks in lieu of depositary receipts included in its underlying index. The index is designed to measure the performance of the large- and mid-capitalization value segment of U.S. equity issuers, with a capping methodology.

Grade (RS Rating)

Last Trade

$50.87

Average Daily Volume

35,490

Number of Holdings ^*

836

* may have additional holdings in another (foreign) market

QVML

Invesco S&P 500 QVM Multi-factor ETF

QVML Description

The investment seeks to track the investment results of the S&P 500 ® Quality, Value & Momentum Top 90% Multi- Factor Index (the “underlying index”). The fund generally will invest at least 90% of its total assets in the securities that comprise the index. S&P Dow Jones Indices LLC compiles, maintains and calculates the index, which is designed to track the performance of a subset of securities from the S&P 500 ® Index that exhibit the investment style criteria of quality, value and momentum. The index is composed of securities with multi-factor scores representing the top 90% of the parent index, as determined by the index provider. It is non-diversified.

Grade (RS Rating)

Last Trade

$35.16

Average Daily Volume

1,434

Number of Holdings ^*

447

* may have additional holdings in another (foreign) market

Performance

Period	GVUS	QVML
30 Days	2.39%	2.51%
60 Days	4.06%	4.26%
90 Days	5.58%	5.72%
12 Months		32.76%

396 Overlapping Holdings

	Symbol	Grade	Weight in GVUS	Weight in QVML	Overlap
	A	D	0.14%	0.08%	0.08%
	ABBV	D	0.65%	0.64%	0.64%
	ABT	B	0.78%	0.41%	0.41%
	ACGL	D	0.14%	0.08%	0.08%
	ACN	C	0.86%	0.47%	0.47%
	ADI	D	0.4%	0.23%	0.23%
	ADM	D	0.1%	0.06%	0.06%
	ADP	B	0.04%	0.26%	0.04%
	AEE	A	0.09%	0.05%	0.05%
	AEP	D	0.2%	0.1%	0.1%
	AFL	B	0.24%	0.12%	0.12%
	AIG	B	0.19%	0.11%	0.11%
	AIZ	A	0.04%	0.03%	0.03%
	AJG	B	0.23%	0.13%	0.13%
	AKAM	D	0.05%	0.03%	0.03%
	ALGN	D	0.03%	0.03%	0.03%
	ALL	A	0.17%	0.11%	0.11%
	ALLE	D	0.05%	0.03%	0.03%
	AMAT	F	0.04%	0.34%	0.04%
	AMCR	D	0.06%	0.03%	0.03%
	AMD	F	0.29%	0.47%	0.29%
	AME	A	0.17%	0.1%	0.1%
	AMP	A	0.02%	0.12%	0.02%
	ANSS	B	0.11%	0.06%	0.06%
	AON	A	0.29%	0.17%	0.17%
	AOS	F	0.03%	0.02%	0.02%
	APA	D	0.03%	0.02%	0.02%
	APH	A	0.14%	0.2%	0.14%
	APTV	D	0.06%	0.03%	0.03%
	ARE	D	0.07%	0.04%	0.04%
	ATO	A	0.08%	0.04%	0.04%
	AVB	B	0.13%	0.07%	0.07%
	AVY	D	0.04%	0.03%	0.03%
	AWK	D	0.1%	0.05%	0.05%
	AXP	A	0.39%	0.35%	0.35%
	AZO	C	0.02%	0.12%	0.02%
	BAC	A	1.23%	0.69%	0.69%
	BALL	D	0.07%	0.04%	0.04%
	BAX	D	0.06%	0.03%	0.03%
	BBY	D	0.08%	0.04%	0.04%
	BDX	F	0.25%	0.14%	0.14%
	BEN	C	0.02%	0.01%	0.01%
	BG	F	0.05%	0.03%	0.03%
	BK	A	0.22%	0.12%	0.12%
	BKNG	A	0.04%	0.36%	0.04%
	BKR	B	0.17%	0.1%	0.1%
	BLDR	D	0.07%	0.05%	0.05%
	BLK	C	0.6%	0.32%	0.32%
	BR	A	0.01%	0.06%	0.01%
	BRK.A	B	3.35%	1.87%	1.87%
	BRO	B	0.06%	0.06%	0.06%
	BSX	B	0.5%	0.27%	0.27%
	BWA	D	0.03%	0.02%	0.02%
	BXP	D	0.05%	0.02%	0.02%
	C	A	0.51%	0.3%	0.3%
	CAG	D	0.05%	0.03%	0.03%
	CAH	B	0.05%	0.06%	0.05%
	CARR	D	0.24%	0.13%	0.13%
	CAT	B	0.63%	0.42%	0.42%
	CB	C	0.45%	0.25%	0.25%
	CBOE	B	0.08%	0.04%	0.04%
	CBRE	B	0.16%	0.08%	0.08%
	CCL	B	0.09%	0.05%	0.05%
	CDW	F	0.05%	0.05%	0.05%
	CE	F	0.02%	0.02%	0.02%
	CEG	D	0.23%	0.16%	0.16%
	CF	B	0.06%	0.04%	0.04%
	CFG	B	0.08%	0.05%	0.05%
	CHD	B	0.1%	0.05%	0.05%
	CHRW	C	0.05%	0.03%	0.03%
	CHTR	C	0.14%	0.09%	0.09%
	CI	F	0.32%	0.2%	0.2%
	CINF	A	0.09%	0.05%	0.05%
	CL	D	0.13%	0.16%	0.13%
	CMCSA	B	0.64%	0.37%	0.37%
	CME	A	0.32%	0.17%	0.17%
	CMI	A	0.19%	0.11%	0.11%
	CMS	C	0.08%	0.04%	0.04%
	CNC	D	0.12%	0.07%	0.07%
	CNP	B	0.08%	0.04%	0.04%
	COF	B	0.27%	0.16%	0.16%
	COP	C	0.51%	0.31%	0.31%
	CPB	D	0.03%	0.02%	0.02%
	CPRT	A	0.01%	0.11%	0.01%
	CPT	B	0.05%	0.03%	0.03%
	CRL	C	0.04%	0.02%	0.02%
	CRM	B	0.18%	0.69%	0.18%
	CSCO	B	0.91%	0.51%	0.51%
	CSGP	D	0.11%	0.06%	0.06%
	CSX	B	0.27%	0.15%	0.15%
	CTAS	B	0.01%	0.15%	0.01%
	CTRA	B	0.07%	0.04%	0.04%
	CTSH	B	0.15%	0.09%	0.09%
	CTVA	C	0.15%	0.09%	0.09%
	CVS	D	0.26%	0.15%	0.15%
	CVX	A	1.08%	0.63%	0.63%
	CZR	F	0.03%	0.02%	0.02%
	D	C	0.19%	0.1%	0.1%
	DAL	C	0.16%	0.08%	0.08%
	DAY	B	0.04%	0.03%	0.03%
	DD	D	0.13%	0.08%	0.08%
	DE	A	0.39%	0.21%	0.21%
	DFS	B	0.17%	0.1%	0.1%
	DG	F	0.06%	0.04%	0.04%
	DGX	A	0.07%	0.04%	0.04%
	DHI	D	0.19%	0.1%	0.1%
	DHR	F	0.58%	0.33%	0.33%
	DIS	B	0.82%	0.43%	0.43%
	DLR	B	0.23%	0.12%	0.12%
	DLTR	F	0.05%	0.04%	0.04%
	DOC	D	0.06%	0.03%	0.03%
	DOV	A	0.11%	0.06%	0.06%
	DOW	F	0.12%	0.07%	0.07%
	DRI	B	0.04%	0.04%	0.04%
	DTE	C	0.1%	0.05%	0.05%
	DUK	C	0.34%	0.18%	0.18%
	DVN	F	0.09%	0.06%	0.06%
	EA	A	0.17%	0.09%	0.09%
	EBAY	D	0.12%	0.06%	0.06%
	ECL	D	0.03%	0.13%	0.03%
	ED	D	0.13%	0.07%	0.07%
	EFX	F	0.09%	0.07%	0.07%
	EG	C	0.05%	0.04%	0.04%
	EIX	B	0.12%	0.07%	0.07%
	ELV	F	0.31%	0.2%	0.2%
	EMN	D	0.05%	0.03%	0.03%
	EMR	A	0.28%	0.16%	0.16%
	EOG	A	0.3%	0.18%	0.18%
	EPAM	C	0.05%	0.03%	0.03%
	EQR	B	0.11%	0.05%	0.05%
	EQT	B	0.09%	0.05%	0.05%
	ES	D	0.08%	0.05%	0.05%
	ESS	B	0.08%	0.04%	0.04%
	ETN	A	0.56%	0.31%	0.31%
	ETR	B	0.12%	0.07%	0.07%
	EVRG	A	0.06%	0.03%	0.03%
	EW	C	0.13%	0.09%	0.09%
	EXC	C	0.15%	0.08%	0.08%
	EXPD	D	0.06%	0.04%	0.04%
	EXR	D	0.13%	0.07%	0.07%
	F	C	0.17%	0.1%	0.1%
	FANG	D	0.13%	0.08%	0.08%
	FAST	B	0.03%	0.1%	0.03%
	FCX	D	0.24%	0.14%	0.14%
	FDS	B	0.05%	0.04%	0.04%
	FDX	B	0.26%	0.15%	0.15%
	FE	C	0.09%	0.04%	0.04%
	FFIV	B	0.05%	0.03%	0.03%
	FI	A	0.32%	0.26%	0.26%
	FIS	C	0.19%	0.1%	0.1%
	FITB	A	0.12%	0.07%	0.07%
	FMC	D	0.03%	0.02%	0.02%
	FOXA	B	0.04%	0.04%	0.04%
	FRT	B	0.04%	0.02%	0.02%
	FSLR	F	0.08%	0.04%	0.04%
	FTNT	C	0.04%	0.13%	0.04%
	FTV	C	0.1%	0.06%	0.06%
	GD	F	0.31%	0.14%	0.14%
	GE	D	0.59%	0.43%	0.43%
	GEHC	F	0.13%	0.07%	0.07%
	GEN	B	0.06%	0.04%	0.04%
	GEV	B	0.35%	0.18%	0.18%
	GILD	C	0.43%	0.24%	0.24%
	GIS	D	0.14%	0.08%	0.08%
	GL	B	0.04%	0.02%	0.02%
	GLW	B	0.14%	0.08%	0.08%
	GM	B	0.25%	0.15%	0.15%
	GNRC	B	0.02%	0.03%	0.02%
	GPC	D	0.07%	0.04%	0.04%
	GPN	B	0.11%	0.06%	0.06%
	GRMN	B	0.12%	0.07%	0.07%
	GS	A	0.53%	0.43%	0.43%
	GWW	B	0.03%	0.11%	0.03%
	HAL	C	0.1%	0.06%	0.06%
	HBAN	A	0.1%	0.06%	0.06%
	HCA	F	0.19%	0.14%	0.14%
	HD	A	0.32%	0.84%	0.32%
	HES	B	0.06%	0.09%	0.06%
	HIG	B	0.13%	0.07%	0.07%
	HII	D	0.03%	0.02%	0.02%
	HOLX	D	0.07%	0.04%	0.04%
	HON	B	0.49%	0.32%	0.32%
	HPE	B	0.11%	0.07%	0.07%
	HPQ	B	0.11%	0.07%	0.07%
	HRL	D	0.03%	0.02%	0.02%
	HSIC	B	0.03%	0.02%	0.02%
	HST	C	0.05%	0.03%	0.03%
	HSY	F	0.08%	0.05%	0.05%
	HUBB	B	0.09%	0.05%	0.05%
	HUM	C	0.13%	0.08%	0.08%
	HWM	A	0.17%	0.09%	0.09%
	IBM	C	0.73%	0.39%	0.39%
	ICE	C	0.34%	0.19%	0.19%
	IEX	B	0.07%	0.04%	0.04%
	IFF	D	0.09%	0.05%	0.05%
	INCY	C	0.04%	0.03%	0.03%
	INTC	D	0.4%	0.25%	0.25%
	INVH	D	0.08%	0.04%	0.04%
	IP	B	0.08%	0.04%	0.04%
	IPG	D	0.04%	0.02%	0.02%
	IQV	D	0.12%	0.08%	0.08%
	IR	B	0.16%	0.09%	0.09%
	ITW	B	0.19%	0.16%	0.16%
	IVZ	B	0.03%	0.02%	0.02%
	J	F	0.07%	0.04%	0.04%
	JBHT	C	0.06%	0.03%	0.03%
	JBL	B	0.05%	0.03%	0.03%
	JCI	C	0.22%	0.12%	0.12%
	JKHY	D	0.05%	0.03%	0.03%
	JNJ	D	1.44%	0.77%	0.77%
	JNPR	F	0.05%	0.03%	0.03%
	JPM	A	2.73%	1.59%	1.59%
	K	A	0.08%	0.05%	0.05%
	KDP	D	0.14%	0.07%	0.07%
	KEY	B	0.07%	0.04%	0.04%
	KEYS	A	0.1%	0.06%	0.06%
	KHC	F	0.11%	0.05%	0.05%
	KIM	A	0.06%	0.03%	0.03%
	KKR	A	0.28%	0.22%	0.22%
	KMB	D	0.1%	0.09%	0.09%
	KMI	A	0.21%	0.11%	0.11%
	KMX	B	0.04%	0.03%	0.03%
	KO	D	0.4%	0.52%	0.4%
	KR	B	0.15%	0.09%	0.09%
	KVUE	A	0.18%	0.09%	0.09%
	L	A	0.06%	0.03%	0.03%
	LDOS	C	0.08%	0.05%	0.05%
	LEN	D	0.16%	0.09%	0.09%
	LEN	D	0.01%	0.09%	0.01%
	LH	C	0.08%	0.05%	0.05%
	LHX	C	0.18%	0.1%	0.1%
	LIN	D	0.84%	0.47%	0.47%
	LKQ	D	0.04%	0.02%	0.02%
	LMT	D	0.3%	0.24%	0.24%
	LNT	A	0.06%	0.03%	0.03%
	LUV	C	0.08%	0.04%	0.04%
	LW	C	0.03%	0.02%	0.02%
	LYB	F	0.08%	0.05%	0.05%
	MAA	B	0.07%	0.04%	0.04%
	MAS	D	0.07%	0.04%	0.04%
	MCHP	D	0.13%	0.08%	0.08%
	MCK	B	0.17%	0.18%	0.17%
	MDLZ	F	0.34%	0.18%	0.18%
	MDT	D	0.44%	0.24%	0.24%
	MET	A	0.19%	0.11%	0.11%
	MGM	D	0.03%	0.02%	0.02%
	MHK	D	0.03%	0.02%	0.02%
	MKC	D	0.07%	0.04%	0.04%
	MKTX	D	0.04%	0.02%	0.02%
	MLM	B	0.13%	0.08%	0.08%
	MMC	B	0.37%	0.23%	0.23%
	MMM	D	0.23%	0.16%	0.16%
	MNST	C	0.03%	0.08%	0.03%
	MO	A	0.37%	0.2%	0.2%
	MOH	F	0.02%	0.04%	0.02%
	MOS	F	0.03%	0.02%	0.02%
	MPC	D	0.22%	0.13%	0.13%
	MRNA	F	0.05%	0.03%	0.03%
	MRO	B	0.06%	0.04%	0.04%
	MS	A	0.57%	0.37%	0.37%
	MSI	B	0.16%	0.18%	0.16%
	MTB	A	0.14%	0.08%	0.08%
	MU	D	0.41%	0.25%	0.25%
	NDAQ	A	0.13%	0.07%	0.07%
	NEE	D	0.61%	0.31%	0.31%
	NI	A	0.06%	0.03%	0.03%
	NKE	D	0.14%	0.2%	0.14%
	NOC	D	0.26%	0.15%	0.15%
	NRG	B	0.04%	0.04%	0.04%
	NSC	B	0.23%	0.13%	0.13%
	NTAP	C	0.05%	0.05%	0.05%
	NTRS	A	0.08%	0.05%	0.05%
	NUE	C	0.14%	0.08%	0.08%
	NVR	D	0.1%	0.06%	0.06%
	NWSA	B	0.04%	0.03%	0.03%
	O	D	0.19%	0.1%	0.1%
	OKE	A	0.25%	0.14%	0.14%
	OMC	C	0.07%	0.04%	0.04%
	ON	D	0.11%	0.07%	0.07%
	OXY	D	0.13%	0.08%	0.08%
	PARA	C	0.02%	0.01%	0.01%
	PAYC	B	0.02%	0.02%	0.02%
	PAYX	C	0.11%	0.1%	0.1%
	PCAR	B	0.22%	0.13%	0.13%
	PCG	A	0.18%	0.09%	0.09%
	PEG	A	0.17%	0.09%	0.09%
	PEP	F	0.18%	0.47%	0.18%
	PFG	D	0.08%	0.04%	0.04%
	PG	A	1.21%	0.82%	0.82%
	PGR	A	0.09%	0.32%	0.09%
	PH	A	0.35%	0.19%	0.19%
	PHM	D	0.1%	0.06%	0.06%
	PKG	A	0.08%	0.05%	0.05%
	PLD	D	0.41%	0.22%	0.22%
	PM	B	0.78%	0.41%	0.41%
	PNC	B	0.32%	0.18%	0.18%
	PNR	A	0.07%	0.04%	0.04%
	PNW	B	0.04%	0.02%	0.02%
	PPG	F	0.11%	0.06%	0.06%
	PPL	B	0.1%	0.05%	0.05%
	PRU	A	0.18%	0.1%	0.1%
	PSA	D	0.17%	0.11%	0.11%
	PSX	C	0.21%	0.13%	0.13%
	PTC	A	0.03%	0.05%	0.03%
	PWR	A	0.13%	0.1%	0.1%
	PYPL	B	0.34%	0.2%	0.2%
	QCOM	F	0.04%	0.41%	0.04%
	QRVO	F	0.02%	0.01%	0.01%
	RCL	A	0.14%	0.12%	0.12%
	REG	B	0.05%	0.03%	0.03%
	REGN	F	0.28%	0.18%	0.18%
	RF	A	0.09%	0.05%	0.05%
	RJF	A	0.12%	0.06%	0.06%
	RL	B	0.03%	0.02%	0.02%
	RMD	C	0.1%	0.07%	0.07%
	ROK	B	0.12%	0.07%	0.07%
	ROP	B	0.23%	0.13%	0.13%
	ROST	C	0.14%	0.1%	0.1%
	RSG	A	0.17%	0.09%	0.09%
	RTX	C	0.61%	0.34%	0.34%
	RVTY	F	0.05%	0.03%	0.03%
	SCHW	B	0.42%	0.26%	0.26%
	SHW	A	0.03%	0.19%	0.03%
	SLB	C	0.24%	0.14%	0.14%
	SNA	A	0.07%	0.04%	0.04%
	SO	D	0.37%	0.19%	0.19%
	SOLV	C	0.04%	0.02%	0.02%
	SPG	B	0.17%	0.13%	0.13%
	SPGI	C	0.61%	0.34%	0.34%
	SRE	A	0.23%	0.12%	0.12%
	STE	F	0.08%	0.05%	0.05%
	STLD	B	0.08%	0.05%	0.05%
	STT	A	0.11%	0.06%	0.06%
	STZ	D	0.15%	0.08%	0.08%
	SW	A	0.1%	0.06%	0.06%
	SWK	D	0.05%	0.03%	0.03%
	SWKS	F	0.05%	0.03%	0.03%
	SYF	B	0.1%	0.06%	0.06%
	SYK	C	0.39%	0.27%	0.27%
	SYY	B	0.06%	0.08%	0.06%
	T	A	0.63%	0.31%	0.31%
	TAP	C	0.04%	0.02%	0.02%
	TDY	B	0.08%	0.05%	0.05%
	TER	D	0.01%	0.04%	0.01%
	TFC	A	0.24%	0.14%	0.14%
	TFX	F	0.04%	0.02%	0.02%
	TGT	F	0.27%	0.16%	0.16%
	TJX	A	0.22%	0.28%	0.22%
	TMO	F	0.76%	0.43%	0.43%
	TMUS	B	0.44%	0.26%	0.26%
	TPR	B	0.05%	0.03%	0.03%
	TROW	B	0.1%	0.06%	0.06%
	TRV	B	0.23%	0.12%	0.12%
	TSN	B	0.07%	0.04%	0.04%
	TT	A	0.24%	0.2%	0.2%
	TTWO	A	0.12%	0.06%	0.06%
	TXN	C	0.63%	0.42%	0.42%
	TXT	D	0.06%	0.04%	0.04%
	TYL	B	0.01%	0.06%	0.01%
	UAL	A	0.12%	0.06%	0.06%
	UDR	B	0.06%	0.03%	0.03%
	UHS	D	0.05%	0.03%	0.03%
	ULTA	F	0.01%	0.04%	0.01%
	UNH	C	1.98%	1.15%	1.15%
	UNP	C	0.29%	0.31%	0.29%
	UPS	C	0.38%	0.2%	0.2%
	URI	B	0.17%	0.13%	0.13%
	USB	A	0.3%	0.17%	0.17%
	VICI	C	0.13%	0.07%	0.07%
	VLO	C	0.17%	0.11%	0.11%
	VLTO	D	0.05%	0.05%	0.05%
	VMC	B	0.11%	0.08%	0.08%
	VRTX	F	0.23%	0.27%	0.23%
	VTR	C	0.1%	0.05%	0.05%
	VTRS	A	0.06%	0.03%	0.03%
	VZ	C	0.68%	0.34%	0.34%
	WAB	B	0.13%	0.08%	0.08%
	WAT	B	0.03%	0.05%	0.03%
	WBA	F	0.02%	0.01%	0.01%
	WBD	C	0.09%	0.05%	0.05%
	WDC	D	0.08%	0.04%	0.04%
	WEC	A	0.12%	0.06%	0.06%
	WELL	A	0.32%	0.16%	0.16%
	WFC	A	1.01%	0.58%	0.58%
	WMB	A	0.27%	0.15%	0.15%
	WMT	A	1.42%	0.74%	0.74%
	WRB	A	0.07%	0.04%	0.04%
	WST	C	0.03%	0.05%	0.03%
	WTW	B	0.12%	0.07%	0.07%
	WY	D	0.09%	0.05%	0.05%
	XEL	A	0.15%	0.08%	0.08%
	XOM	B	2.08%	1.22%	1.22%
	XYL	D	0.11%	0.07%	0.07%
	ZBH	C	0.09%	0.05%	0.05%
	ZBRA	B	0.06%	0.04%	0.04%
	ZTS	D	0.05%	0.16%	0.05%

GVUS Overweight 440 Positions Relative to QVML

	Symbol	Grade	Weight
	MCD	D	0.77%
	LOW	D	0.6%
	PFE	D	0.55%
	BMY	B	0.44%
	EQIX	A	0.31%
	BA	F	0.31%
	MRVL	B	0.27%
	APD	A	0.27%
	MAR	B	0.25%
	TDG	D	0.21%
	MSTR	C	0.19%
	CCI	D	0.18%
	NEM	D	0.18%
	OTIS	C	0.16%
	AMGN	D	0.13%
	HLT	A	0.12%
	DELL	C	0.12%
	SQ	B	0.11%
	MTD	D	0.1%
	SBUX	A	0.1%
	FCNCA	A	0.1%
	YUM	B	0.09%
	BIIB	F	0.09%
	SBAC	D	0.09%
	LNG	B	0.09%
	MSCI	C	0.08%
	ZM	B	0.08%
	HOOD	B	0.08%
	APO	B	0.08%
	ILMN	D	0.08%
	OC	A	0.07%
	RBA	A	0.07%
	TRMB	B	0.07%
	TRU	D	0.07%
	CSL	C	0.07%
	RS	B	0.07%
	WSO	A	0.07%
	IBKR	A	0.07%
	EWBC	A	0.06%
	VRSN	F	0.06%
	IRM	D	0.06%
	NDSN	B	0.06%
	ACM	A	0.06%
	THC	D	0.06%
	USFD	A	0.06%
	MKL	A	0.06%
	GGG	B	0.06%
	RGA	A	0.06%
	SUI	D	0.06%
	SSNC	B	0.06%
	FNF	B	0.06%
	TOL	B	0.06%
	UTHR	C	0.06%
	CVNA	B	0.06%
	Z	A	0.05%
	OVV	B	0.05%
	SOFI	A	0.05%
	BMRN	D	0.05%
	SCI	B	0.05%
	NVT	B	0.05%
	NTNX	A	0.05%
	FTI	A	0.05%
	ALB	C	0.05%
	WPC	D	0.05%
	CLH	B	0.05%
	ITT	A	0.05%
	CASY	A	0.05%
	AMH	D	0.05%
	AFRM	B	0.05%
	COHR	B	0.05%
	GLPI	C	0.05%
	ELS	C	0.05%
	RPM	A	0.05%
	UNM	A	0.05%
	TWLO	A	0.05%
	RNR	C	0.05%
	CW	B	0.05%
	EME	C	0.05%
	AVTR	F	0.05%
	TW	A	0.04%
	WCC	B	0.04%
	GMED	A	0.04%
	QGEN	D	0.04%
	CMA	A	0.04%
	REXR	F	0.04%
	DCI	B	0.04%
	BWXT	B	0.04%
	FBIN	D	0.04%
	RGLD	C	0.04%
	INGR	B	0.04%
	BRBR	A	0.04%
	EL	F	0.04%
	PNFP	B	0.04%
	ORI	A	0.04%
	AYI	B	0.04%
	CNH	C	0.04%
	JEF	A	0.04%
	CIEN	B	0.04%
	DOX	D	0.04%
	WAL	B	0.04%
	WTRG	B	0.04%
	COIN	C	0.04%
	DPZ	C	0.04%
	EHC	B	0.04%
	DTM	B	0.04%
	OHI	C	0.04%
	AES	F	0.04%
	GME	C	0.04%
	ARMK	B	0.04%
	LAD	A	0.04%
	AFG	A	0.04%
	RPRX	D	0.04%
	BLD	D	0.04%
	WWD	B	0.04%
	WBS	A	0.04%
	DKS	C	0.04%
	ALSN	B	0.04%
	PRI	A	0.04%
	CACI	D	0.04%
	TECH	D	0.04%
	CCK	C	0.04%
	CTLT	B	0.04%
	EVR	B	0.04%
	CUBE	D	0.04%
	PFGC	B	0.04%
	AA	B	0.04%
	SJM	D	0.04%
	CG	A	0.04%
	ATR	B	0.04%
	FHN	A	0.04%
	RRX	B	0.04%
	SF	B	0.04%
	BJ	A	0.04%
	COLB	A	0.03%
	CGNX	C	0.03%
	FAF	A	0.03%
	KBR	F	0.03%
	LSTR	D	0.03%
	BILL	A	0.03%
	STAG	F	0.03%
	AGNC	D	0.03%
	MKSI	C	0.03%
	MTG	C	0.03%
	HRB	D	0.03%
	VMI	B	0.03%
	ALK	C	0.03%
	AXS	A	0.03%
	WEX	D	0.03%
	WSM	B	0.03%
	RLI	B	0.03%
	DAR	C	0.03%
	DINO	D	0.03%
	FND	C	0.03%
	MTSI	B	0.03%
	FCN	D	0.03%
	ELAN	D	0.03%
	GXO	B	0.03%
	SSD	D	0.03%
	ATI	D	0.03%
	FR	C	0.03%
	GNTX	C	0.03%
	COKE	C	0.03%
	ESAB	B	0.03%
	WH	B	0.03%
	VNO	B	0.03%
	VFC	C	0.03%
	BBWI	D	0.03%
	R	B	0.03%
	OSK	B	0.03%
	MIDD	C	0.03%
	PR	B	0.03%
	LBRDK	C	0.03%
	PB	A	0.03%
	ROKU	D	0.03%
	JAZZ	B	0.03%
	KEX	C	0.03%
	DASH	A	0.03%
	SKX	D	0.03%
	RHI	B	0.03%
	CHE	D	0.03%
	ADC	B	0.03%
	NNN	D	0.03%
	BERY	B	0.03%
	G	B	0.03%
	CRBG	B	0.03%
	FLS	B	0.03%
	RIVN	F	0.03%
	CHRD	D	0.03%
	MTCH	D	0.03%
	RRC	B	0.03%
	ACI	C	0.03%
	X	C	0.03%
	APG	B	0.03%
	WTFC	A	0.03%
	TKO	B	0.03%
	SEIC	B	0.03%
	SNV	B	0.03%
	CFR	B	0.03%
	FICO	B	0.03%
	LAMR	D	0.03%
	HLI	B	0.03%
	LECO	B	0.03%
	EGP	F	0.03%
	VOYA	B	0.03%
	NYT	C	0.03%
	TTC	D	0.03%
	CR	A	0.03%
	MTZ	B	0.03%
	ALLY	C	0.03%
	CBSH	A	0.03%
	JLL	D	0.03%
	OGE	B	0.03%
	FYBR	D	0.03%
	GWRE	A	0.03%
	GPK	C	0.03%
	WYNN	D	0.03%
	ZION	B	0.03%
	TTEK	F	0.03%
	BRX	A	0.03%
	SNX	C	0.03%
	KNX	B	0.03%
	AAL	B	0.03%
	AR	B	0.03%
	RBC	A	0.03%
	AXTA	A	0.03%
	OGN	D	0.02%
	NWL	B	0.02%
	SITE	D	0.02%
	WTM	A	0.02%
	HOG	D	0.02%
	FLO	D	0.02%
	TPG	A	0.02%
	DLB	B	0.02%
	AN	C	0.02%
	M	D	0.02%
	GTES	A	0.02%
	WLK	D	0.02%
	KMPR	B	0.02%
	GAP	C	0.02%
	AWI	A	0.02%
	EEFT	B	0.02%
	RYN	D	0.02%
	SLGN	A	0.02%
	PSN	D	0.02%
	WSC	D	0.02%
	KRC	C	0.02%
	CUZ	B	0.02%
	DBX	B	0.02%
	ST	F	0.02%
	CROX	D	0.02%
	ROIV	C	0.02%
	AVT	C	0.02%
	FRPT	B	0.02%
	AGO	B	0.02%
	SON	D	0.02%
	HXL	D	0.02%
	SEE	C	0.02%
	OLN	D	0.02%
	BYD	C	0.02%
	TKR	D	0.02%
	AL	B	0.02%
	UGI	A	0.02%
	BFAM	D	0.02%
	OZK	B	0.02%
	POST	C	0.02%
	BC	C	0.02%
	SLM	A	0.02%
	LFUS	F	0.02%
	SN	D	0.02%
	LEA	D	0.02%
	WMS	D	0.02%
	LITE	B	0.02%
	CRUS	D	0.02%
	EXAS	D	0.02%
	ORLY	B	0.02%
	RGEN	D	0.02%
	NFG	A	0.02%
	OLLI	D	0.02%
	DOCS	C	0.02%
	FOX	A	0.02%
	THO	B	0.02%
	JHG	A	0.02%
	H	B	0.02%
	ONTO	D	0.02%
	IDA	A	0.02%
	AGCO	D	0.02%
	SAIA	B	0.02%
	THG	A	0.02%
	PVH	C	0.02%
	FNB	A	0.02%
	XP	F	0.02%
	VNT	B	0.02%
	STWD	C	0.02%
	WHR	B	0.02%
	AMG	B	0.02%
	S	B	0.02%
	BPOP	B	0.02%
	BIO	D	0.02%
	ARW	D	0.02%
	MTDR	B	0.02%
	COLD	D	0.02%
	ESI	A	0.02%
	LNC	B	0.02%
	NOV	C	0.02%
	OKTA	C	0.02%
	SIRI	C	0.02%
	OMF	A	0.02%
	KD	B	0.02%
	SAIC	F	0.02%
	MSA	D	0.02%
	MAT	D	0.02%
	DDS	B	0.01%
	SNDR	B	0.01%
	TRIP	F	0.01%
	REYN	D	0.01%
	FTRE	D	0.01%
	QS	F	0.01%
	WEN	D	0.01%
	LEG	F	0.01%
	EXEL	B	0.01%
	CNXC	F	0.01%
	UA	C	0.01%
	LCID	F	0.01%
	CLVT	F	0.01%
	BIRK	D	0.01%
	SHC	F	0.01%
	ADTN	A	0.01%
	VSTS	C	0.01%
	RKT	F	0.01%
	CRI	D	0.01%
	PPC	C	0.01%
	AZEK	A	0.01%
	BRKR	D	0.01%
	PSTG	D	0.01%
	GO	C	0.01%
	KSS	F	0.01%
	ETSY	D	0.01%
	LYFT	C	0.01%
	MP	B	0.01%
	IPGP	D	0.01%
	GLOB	B	0.01%
	UAA	C	0.01%
	RCM	F	0.01%
	AAP	C	0.01%
	SAM	C	0.01%
	AZTA	D	0.01%
	YETI	C	0.01%
	PINC	B	0.01%
	ALGM	D	0.01%
	HHH	B	0.01%
	CPRI	F	0.01%
	LPX	B	0.01%
	CNM	D	0.01%
	CWEN	C	0.01%
	EXP	A	0.01%
	JWN	C	0.01%
	HAYW	B	0.01%
	ENOV	C	0.01%
	BOKF	B	0.01%
	MPW	F	0.01%
	SPB	C	0.01%
	BROS	B	0.01%
	CC	C	0.01%
	AGR	B	0.01%
	CXT	B	0.01%
	COTY	F	0.01%
	COLM	B	0.01%
	VIRT	B	0.01%
	AMKR	D	0.01%
	U	C	0.01%
	AMED	F	0.01%
	MAN	D	0.01%
	PAG	B	0.01%
	WU	D	0.01%
	PK	B	0.01%
	NXST	C	0.01%
	IRDM	D	0.01%
	SPR	D	0.01%
	PENN	C	0.01%
	NSA	D	0.01%
	LOPE	B	0.01%
	SMG	D	0.01%
	VAC	B	0.01%
	ZI	D	0.01%
	HUN	F	0.01%
	MASI	A	0.01%
	ZG	A	0.01%
	EPR	D	0.01%
	ALNY	D	0.01%
	BHF	B	0.01%
	ACHC	F	0.01%
	ASH	D	0.01%
	AM	A	0.01%
	FHB	A	0.01%
	CLF	F	0.01%
	UHAL	D	0.01%
	IAC	D	0.01%
	PII	D	0.01%
	HIW	D	0.01%
	NVST	B	0.01%
	W	F	0.01%
	NWS	B	0.01%
	NEU	C	0.01%
	OLED	D	0.01%
	PRGO	B	0.01%
	GFS	C	0.01%
	TNL	A	0.01%
	MSM	C	0.01%
	CIVI	D	0.01%
	MDU	D	0.01%
	MSGS	A	0.01%
	DNB	B	0.01%
	DXC	B	0.01%
	PLNT	A	0.01%
	XRAY	F	0.01%
	RH	B	0.01%
	SEG	B	0.0%
	UWMC	D	0.0%
	IONS	F	0.0%
	TXG	F	0.0%
	CACC	D	0.0%
	DJT	C	0.0%
	SEB	F	0.0%
	PATH	C	0.0%
	PYCR	C	0.0%
	HCP	B	0.0%
	WOLF	F	0.0%
	CERT	F	0.0%
	LSCC	D	0.0%
	TFSL	A	0.0%
	FIVE	F	0.0%
	MTN	C	0.0%
	CAR	C	0.0%
	CNA	B	0.0%
	HAS	D	0.0%
	INFA	D	0.0%
	LBRDA	C	0.0%
	CWEN	C	0.0%
	DV	C	0.0%
	NCNO	B	0.0%

GVUS Underweight 52 Positions Relative to QVML

	Symbol	Grade	Weight
	NVDA	C	-7.76%
	AAPL	C	-7.12%
	MSFT	F	-6.58%
	GOOG	C	-4.33%
	AMZN	C	-3.94%
	META	D	-2.71%
	AVGO	D	-1.61%
	LLY	F	-1.38%
	V	A	-0.99%
	MA	C	-0.89%
	COST	B	-0.85%
	NFLX	A	-0.78%
	MRK	F	-0.54%
	ADBE	C	-0.49%
	NOW	A	-0.44%
	ISRG	A	-0.4%
	INTU	C	-0.4%
	UBER	D	-0.33%
	PANW	C	-0.28%
	BX	A	-0.27%
	LRCX	F	-0.22%
	ANET	C	-0.21%
	KLAC	D	-0.2%
	SNPS	B	-0.19%
	CDNS	B	-0.18%
	CRWD	B	-0.18%
	WM	A	-0.17%
	CMG	B	-0.17%
	MCO	B	-0.16%
	ADSK	A	-0.14%
	ABNB	C	-0.13%
	NXPI	D	-0.13%
	VST	B	-0.1%
	ODFL	B	-0.09%
	COR	B	-0.09%
	VRSK	A	-0.09%
	IT	C	-0.09%
	TRGP	B	-0.09%
	AXON	A	-0.09%
	LULU	C	-0.08%
	IDXX	F	-0.07%
	CPAY	A	-0.06%
	DECK	A	-0.06%
	GDDY	A	-0.06%
	TSCO	D	-0.06%
	MPWR	F	-0.06%
	EXPE	B	-0.05%
	POOL	C	-0.03%
	ROL	B	-0.03%
	DVA	B	-0.02%
	SMCI	F	-0.02%
	NCLH	B	-0.02%

GVUS: Top Represented Industries & Keywords

Industries: Diversified Industrials Banks - Regional - US Utilities - Regulated Electric Software - Application Asset Management Oil & Gas E&P Business Services Semiconductors Biotechnology Diagnostics & Research Specialty Retail Capital Markets Packaged Foods Specialty Chemicals Information Technology Services Insurance - Property & Casualty Packaging & Containers Aerospace & Defense Software - Infrastructure REIT - Residential

Keywords: S&P 500 Nasdaq 100 Natural Gas Insurance Bank Electronics Banking Real Estate Investment Trust Chemical Computing Aerospace Electricity Mining Telecommunications Insurance Products Semiconductor Biotechnology Dow Jones Component Beverage Medicine

QVML: Top Represented Industries & Keywords

Industries: Diversified Industrials Software - Application Utilities - Regulated Electric Semiconductors Business Services Asset Management Diagnostics & Research Oil & Gas E&P Banks - Regional - US Capital Markets Medical Instruments & Supplies Packaged Foods Aerospace & Defense Credit Services Health Care Plans Information Technology Services Insurance - Property & Casualty Medical Devices REIT - Residential Specialty Retail

Keywords: S&P 500 Nasdaq 100 Natural Gas Electricity Insurance Computing Dow Jones Component Electronics Aerospace Real Estate Investment Trust Bank Chemical Banking Medicine Semiconductor Telecommunications Insurance Products Petroleum Industry Investment Bank Mobile Devices