HKND vs. BTAL ETF Comparison

Comparison of Humankind US Stock ETF (HKND) to QuantShares U.S. Market Neutral Anti Beta Fund ETF (BTAL)

HKND

Humankind US Stock ETF

HKND Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Humankind US Equity Index (the ?Index?). The index is primarily comprised of domestic (U.S.) equity securities and may not be comprised of greater than 5% of foreign securities (including ADRs). The fund invests in the common stock of each company in the index in approximately the same proportion as represented in the index itself. Under normal conditions, it will invest at least 90% of its net assets, including borrowings for investment purposes, in securities contained in the index.

Grade (RS Rating)

Last Trade

$33.30

Average Daily Volume

1,926

Number of Holdings ^*

958

* may have additional holdings in another (foreign) market

BTAL

QuantShares U.S. Market Neutral Anti Beta Fund ETF

BTAL Description

The investment seeks performance results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Thematic Market Neutral Anti-Beta Index. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stock, including the short positions, in the Target Anti-Beta Index. The Target Anti-Beta Index is a market neutral index that is dollar-neutral. As such, it identifies long and short securities positions of approximately equal dollar amounts. In choosing to track a market neutral index, the fund seeks to limit the effects of general market movements on the fund.

Grade (RS Rating)

Last Trade

$19.01

Average Daily Volume

445,126

Number of Holdings ^*

392

* may have additional holdings in another (foreign) market

Performance

Period	HKND	BTAL
30 Days	1.63%	-4.57%
60 Days	0.72%	-3.16%
90 Days	1.42%	-3.70%
12 Months	19.65%	-6.81%

222 Overlapping Holdings

	Symbol	Grade	Weight in HKND	Weight in BTAL	Overlap
	ABBV	D	2.0%	0.36%	0.36%
	ADP	B	0.07%	0.46%	0.07%
	AGL	F	0.02%	0.16%	0.02%
	AIZ	A	0.12%	0.48%	0.12%
	AKAM	D	0.01%	0.36%	0.01%
	ALB	C	0.01%	-0.52%	-0.52%
	ALGN	D	0.02%	-0.43%	-0.43%
	ALL	A	0.21%	0.48%	0.21%
	ALLY	C	0.05%	-0.37%	-0.37%
	AMD	F	0.07%	-0.4%	-0.4%
	AMGN	D	1.1%	0.37%	0.37%
	AMKR	D	0.03%	-0.34%	-0.34%
	ANET	C	0.02%	-0.46%	-0.46%
	APG	B	0.01%	-0.44%	-0.44%
	ARE	D	0.01%	-0.4%	-0.4%
	ARW	D	0.03%	0.37%	0.03%
	ARWR	F	0.02%	-0.35%	-0.35%
	ASGN	F	0.01%	0.39%	0.01%
	AVB	B	0.06%	0.45%	0.06%
	AVGO	D	0.12%	-0.45%	-0.45%
	AVT	C	0.02%	0.42%	0.02%
	AWK	D	0.39%	-0.42%	-0.42%
	AXTA	A	0.01%	-0.49%	-0.49%
	AZO	C	0.04%	0.33%	0.04%
	BBWI	D	0.02%	-0.44%	-0.44%
	BG	F	0.89%	0.4%	0.4%
	BLDR	D	0.02%	-0.44%	-0.44%
	BLK	C	0.1%	-0.54%	-0.54%
	BMRN	D	0.1%	0.29%	0.1%
	BMY	B	0.93%	0.51%	0.51%
	BRO	B	0.02%	0.47%	0.02%
	BXP	D	0.01%	-0.46%	-0.46%
	CARR	D	0.0%	-0.45%	-0.45%
	CBRE	B	0.1%	-0.51%	-0.51%
	CC	C	0.01%	-0.43%	-0.43%
	CE	F	0.01%	-0.24%	-0.24%
	CF	B	0.98%	0.46%	0.46%
	CFG	B	0.04%	-0.49%	-0.49%
	CG	A	0.03%	-0.55%	-0.55%
	CHD	B	0.36%	0.47%	0.36%
	CHE	D	0.03%	0.4%	0.03%
	CHH	A	0.0%	0.5%	0.0%
	CI	F	1.11%	0.4%	0.4%
	CINF	A	0.04%	0.49%	0.04%
	CLH	B	0.01%	0.43%	0.01%
	CMA	A	0.02%	-0.54%	-0.54%
	CME	A	0.02%	0.47%	0.02%
	CNC	D	0.37%	0.32%	0.32%
	CNM	D	0.01%	-0.38%	-0.38%
	CNXC	F	0.02%	-0.23%	-0.23%
	COHR	B	0.01%	-0.52%	-0.52%
	COIN	C	0.01%	-0.71%	-0.71%
	COR	B	0.35%	0.45%	0.35%
	COTY	F	0.01%	-0.33%	-0.33%
	CPB	D	0.08%	0.38%	0.08%
	CRL	C	0.1%	-0.41%	-0.41%
	CSCO	B	0.16%	0.49%	0.16%
	CSGP	D	0.01%	-0.42%	-0.42%
	CSX	B	0.01%	0.45%	0.01%
	CTSH	B	0.08%	0.43%	0.08%
	CXT	B	0.01%	0.42%	0.01%
	DAR	C	0.03%	-0.45%	-0.45%
	DAY	B	0.01%	-0.56%	-0.56%
	DBX	B	0.01%	0.47%	0.01%
	DD	D	0.31%	0.43%	0.31%
	DELL	C	0.99%	-0.53%	-0.53%
	DGX	A	0.62%	0.45%	0.45%
	DKS	C	0.02%	-0.37%	-0.37%
	DLB	B	0.01%	0.43%	0.01%
	DNLI	D	0.01%	-0.42%	-0.42%
	DOX	D	0.02%	0.43%	0.02%
	EDR	A	0.01%	0.46%	0.01%
	EFX	F	0.02%	-0.35%	-0.35%
	EL	F	0.04%	-0.31%	-0.31%
	ELS	C	0.03%	0.43%	0.03%
	ELV	F	0.44%	0.33%	0.33%
	ENPH	F	0.14%	-0.23%	-0.23%
	EQR	B	0.07%	0.44%	0.07%
	ERIE	D	0.01%	0.38%	0.01%
	EW	C	0.31%	-0.44%	-0.44%
	EXPE	B	0.04%	-0.56%	-0.56%
	FCN	D	0.02%	0.38%	0.02%
	FFIV	B	0.01%	0.52%	0.01%
	FLO	D	0.1%	0.42%	0.1%
	FMC	D	0.82%	0.37%	0.37%
	FND	C	0.01%	-0.4%	-0.4%
	FOUR	B	0.01%	-0.54%	-0.54%
	FTNT	C	0.01%	0.52%	0.01%
	FYBR	D	0.04%	-0.53%	-0.53%
	GH	B	0.02%	-0.49%	-0.49%
	GILD	C	0.7%	0.49%	0.49%
	GIS	D	0.29%	0.38%	0.29%
	GLW	B	0.09%	0.47%	0.09%
	GME	C	0.03%	-0.56%	-0.56%
	GNRC	B	0.01%	-0.51%	-0.51%
	GPC	D	0.05%	0.37%	0.05%
	HHH	B	0.01%	-0.47%	-0.47%
	HIG	B	0.1%	0.45%	0.1%
	HPQ	B	0.81%	0.45%	0.45%
	HRB	D	0.01%	0.41%	0.01%
	HUM	C	0.3%	0.34%	0.3%
	IBKR	A	0.02%	0.62%	0.02%
	IBM	C	0.26%	0.45%	0.26%
	IDXX	F	0.02%	-0.39%	-0.39%
	ILMN	D	0.09%	-0.43%	-0.43%
	INTC	D	1.51%	-0.54%	-0.54%
	ITT	A	0.0%	-0.49%	-0.49%
	J	F	0.29%	0.41%	0.29%
	JLL	D	0.04%	-0.46%	-0.46%
	JNJ	D	0.71%	0.42%	0.42%
	JNPR	F	0.01%	0.39%	0.01%
	KO	D	0.01%	0.37%	0.01%
	KR	B	0.21%	0.47%	0.21%
	L	A	0.06%	0.45%	0.06%
	LAMR	D	0.01%	-0.46%	-0.46%
	LNC	B	0.05%	-0.48%	-0.48%
	LPLA	A	0.04%	0.59%	0.04%
	LRCX	F	0.11%	-0.36%	-0.36%
	LYV	A	0.03%	-0.62%	-0.62%
	MAN	D	0.1%	0.37%	0.1%
	MCK	B	0.49%	0.51%	0.49%
	MKC	D	0.05%	0.41%	0.05%
	MKL	A	0.05%	0.53%	0.05%
	MMC	B	0.13%	0.42%	0.13%
	MOH	F	0.08%	0.36%	0.08%
	MOS	F	1.72%	0.38%	0.38%
	MPWR	F	0.01%	-0.24%	-0.24%
	MRNA	F	0.35%	-0.22%	-0.22%
	MRVL	B	0.01%	-0.56%	-0.56%
	MSFT	F	2.37%	0.43%	0.43%
	MSI	B	0.02%	0.51%	0.02%
	MSM	C	0.01%	0.43%	0.01%
	MTCH	D	0.01%	0.35%	0.01%
	MU	D	0.14%	-0.43%	-0.43%
	NTLA	F	0.01%	-0.27%	-0.27%
	NTRA	B	0.01%	-0.56%	-0.56%
	NTRS	A	0.04%	-0.54%	-0.54%
	NVDA	C	0.09%	-0.48%	-0.48%
	NWL	B	0.02%	0.54%	0.02%
	O	D	0.01%	0.39%	0.01%
	ON	D	0.03%	0.38%	0.03%
	OPEN	D	0.02%	-0.3%	-0.3%
	ORI	A	0.04%	0.46%	0.04%
	ORLY	B	0.04%	0.5%	0.04%
	OZK	B	0.01%	-0.49%	-0.49%
	PAYC	B	0.01%	0.59%	0.01%
	PAYX	C	0.02%	0.47%	0.02%
	PCTY	B	0.0%	0.53%	0.0%
	PEN	B	0.04%	-0.52%	-0.52%
	PFE	D	1.58%	0.37%	0.37%
	PGR	A	0.21%	0.45%	0.21%
	PLD	D	0.03%	-0.39%	-0.39%
	PNFP	B	0.01%	-0.55%	-0.55%
	PODD	C	0.06%	-0.59%	-0.59%
	PWR	A	0.02%	-0.51%	-0.51%
	PYPL	B	0.08%	-0.52%	-0.52%
	REG	B	0.01%	0.45%	0.01%
	RF	A	0.03%	-0.5%	-0.5%
	RGA	A	0.06%	0.48%	0.06%
	RGEN	D	0.01%	-0.37%	-0.37%
	RKT	F	0.03%	-0.29%	-0.29%
	RLI	B	0.01%	0.51%	0.01%
	RMD	C	0.2%	-0.45%	-0.45%
	ROKU	D	0.04%	-0.47%	-0.47%
	ROP	B	0.01%	0.45%	0.01%
	RSG	A	0.04%	0.43%	0.04%
	RUN	F	0.13%	-0.21%	-0.21%
	RYAN	B	0.01%	0.47%	0.01%
	SCHW	B	0.07%	-0.56%	-0.56%
	SEE	C	0.01%	-0.44%	-0.44%
	SFM	A	0.0%	0.6%	0.0%
	SHW	A	0.04%	-0.47%	-0.47%
	SIGI	C	0.01%	0.48%	0.01%
	SMCI	F	0.05%	-0.18%	-0.18%
	SMG	D	0.05%	-0.46%	-0.46%
	SNA	A	0.01%	0.55%	0.01%
	SNV	B	0.01%	-0.54%	-0.54%
	SNX	C	0.06%	0.41%	0.06%
	SQ	B	0.06%	-0.6%	-0.6%
	SRPT	D	0.07%	0.32%	0.07%
	T	A	0.8%	0.5%	0.5%
	TDOC	C	0.01%	-0.56%	-0.56%
	TER	D	0.01%	-0.33%	-0.33%
	TFX	F	0.17%	-0.36%	-0.36%
	TGNA	B	0.01%	0.53%	0.01%
	TGT	F	0.1%	-0.44%	-0.44%
	THG	A	0.02%	0.51%	0.02%
	THO	B	0.01%	-0.44%	-0.44%
	TJX	A	0.06%	0.43%	0.06%
	TMUS	B	0.37%	0.49%	0.37%
	TNET	D	0.02%	0.37%	0.02%
	TOL	B	0.04%	-0.47%	-0.47%
	TOST	B	0.01%	-0.71%	-0.71%
	TPG	A	0.02%	-0.58%	-0.58%
	TROW	B	0.04%	-0.48%	-0.48%
	TRU	D	0.01%	-0.44%	-0.44%
	TRV	B	0.16%	0.52%	0.16%
	TSLA	B	0.16%	-0.7%	-0.7%
	TTD	B	0.0%	-0.5%	-0.5%
	TXG	F	0.02%	-0.26%	-0.26%
	UNH	C	0.96%	0.43%	0.43%
	UNM	A	0.04%	0.57%	0.04%
	URI	B	0.01%	-0.52%	-0.52%
	USB	A	0.12%	-0.49%	-0.49%
	UTHR	C	0.08%	0.45%	0.08%
	VEEV	C	0.01%	-0.46%	-0.46%
	VNO	B	0.01%	-0.52%	-0.52%
	VRSN	F	0.01%	0.43%	0.01%
	VRT	B	0.01%	-0.67%	-0.67%
	VTRS	A	0.25%	0.48%	0.25%
	VZ	C	0.89%	0.44%	0.44%
	WAL	B	0.01%	-0.49%	-0.49%
	WBA	F	0.26%	-0.4%	-0.4%
	WCC	B	0.01%	-0.55%	-0.55%
	WELL	A	0.02%	0.5%	0.02%
	WH	B	0.01%	0.53%	0.01%
	WM	A	0.07%	0.45%	0.07%
	WMS	D	0.02%	-0.37%	-0.37%
	WPC	D	0.01%	0.41%	0.01%
	WRB	A	0.04%	0.45%	0.04%
	WTM	A	0.01%	0.39%	0.01%
	ZION	B	0.01%	-0.53%	-0.53%

HKND Overweight 736 Positions Relative to BTAL

	Symbol	Grade	Weight
	PG	A	4.05%
	GOOGL	C	3.87%
	AAPL	C	2.24%
	LLY	F	2.09%
	DE	A	2.08%
	MRK	F	1.84%
	ADM	D	1.56%
	CTVA	C	1.48%
	CL	D	1.35%
	BDX	F	1.15%
	ABT	B	1.08%
	SYK	C	1.07%
	WMT	A	1.06%
	LH	C	0.93%
	GEHC	F	0.93%
	HCA	F	0.91%
	ECL	D	0.87%
	TMO	F	0.86%
	BAX	D	0.84%
	BSX	B	0.74%
	JPM	A	0.69%
	CMCSA	B	0.68%
	AGCO	D	0.68%
	REGN	F	0.61%
	DHR	F	0.59%
	VRTX	F	0.59%
	AMZN	C	0.57%
	SJM	D	0.54%
	IQV	D	0.53%
	BAC	A	0.51%
	CVS	D	0.5%
	INGR	B	0.49%
	FDP	B	0.48%
	ZBH	C	0.45%
	WFC	A	0.42%
	C	A	0.41%
	KVUE	A	0.4%
	PEP	F	0.4%
	HD	A	0.37%
	CAG	D	0.36%
	VLTO	D	0.36%
	MS	A	0.35%
	GS	A	0.34%
	ISRG	A	0.33%
	CAH	B	0.31%
	MDLZ	F	0.31%
	THC	D	0.3%
	BIIB	F	0.3%
	SPB	C	0.29%
	HOLX	D	0.27%
	FELE	B	0.26%
	K	A	0.26%
	AIG	B	0.23%
	CLX	B	0.22%
	LOW	D	0.22%
	BBY	D	0.22%
	HPE	B	0.21%
	UHS	D	0.21%
	DOW	F	0.21%
	DIS	B	0.2%
	AXP	A	0.2%
	MET	A	0.19%
	CHTR	C	0.18%
	AMAT	F	0.17%
	ORCL	B	0.17%
	DHI	D	0.16%
	COF	B	0.16%
	PRU	A	0.16%
	CTLT	B	0.15%
	AVTR	F	0.15%
	QCOM	F	0.15%
	FSLR	F	0.15%
	SOLV	C	0.15%
	A	D	0.15%
	ZWS	B	0.15%
	ENOV	C	0.15%
	V	A	0.15%
	LEN	D	0.14%
	HSIC	B	0.14%
	DVA	B	0.13%
	DXCM	D	0.13%
	FTRE	D	0.12%
	JBL	B	0.12%
	TITN	C	0.11%
	RPRX	D	0.11%
	COST	B	0.11%
	OGN	D	0.11%
	MA	C	0.11%
	RVTY	F	0.11%
	AHCO	F	0.11%
	PNC	B	0.1%
	ALNY	D	0.1%
	ICUI	D	0.1%
	TFC	A	0.1%
	KMB	D	0.1%
	SEM	B	0.1%
	BK	A	0.1%
	WDC	D	0.1%
	STT	A	0.09%
	POST	C	0.09%
	MTD	D	0.09%
	BIO	D	0.09%
	NFLX	A	0.09%
	WTRG	B	0.09%
	LUMN	C	0.09%
	IART	C	0.09%
	TXN	C	0.09%
	UAN	B	0.08%
	ITGR	B	0.08%
	CWT	D	0.08%
	ALG	B	0.08%
	CDW	F	0.08%
	CRM	B	0.08%
	KD	B	0.08%
	RDNT	B	0.08%
	LXU	B	0.08%
	ACM	A	0.08%
	INCY	C	0.08%
	AFL	B	0.08%
	NBIX	C	0.08%
	MASI	A	0.08%
	PHM	D	0.07%
	DFS	B	0.07%
	SYF	B	0.07%
	WAT	B	0.07%
	EMBC	C	0.07%
	SYY	B	0.07%
	TECH	D	0.07%
	MMSI	B	0.07%
	EHC	B	0.07%
	FNF	B	0.07%
	DXC	B	0.07%
	AMP	A	0.07%
	WBD	C	0.07%
	ACI	C	0.07%
	FI	A	0.06%
	MMM	D	0.06%
	KLAC	D	0.06%
	FOX	A	0.06%
	WLK	D	0.06%
	HAE	C	0.06%
	CNMD	C	0.06%
	GMED	A	0.06%
	BRKR	D	0.06%
	WST	C	0.06%
	CRBG	B	0.06%
	IFF	D	0.06%
	HSY	F	0.06%
	BKNG	A	0.06%
	MAA	B	0.05%
	KLG	C	0.05%
	FAF	A	0.05%
	NVR	D	0.05%
	TTC	D	0.05%
	AVNS	F	0.05%
	GXO	B	0.05%
	MEDP	D	0.05%
	OPK	C	0.05%
	APH	A	0.05%
	GWW	B	0.05%
	EQH	B	0.05%
	INVH	D	0.05%
	CMI	A	0.05%
	SUI	D	0.05%
	OMC	C	0.05%
	EBAY	D	0.05%
	RJF	A	0.05%
	OMI	F	0.05%
	MAR	B	0.05%
	ADBE	C	0.05%
	SJW	D	0.05%
	PFG	D	0.05%
	VTR	C	0.05%
	BERY	B	0.05%
	KDP	D	0.04%
	GPN	B	0.04%
	CNXN	C	0.04%
	AFG	A	0.04%
	PH	A	0.04%
	KEY	B	0.04%
	IONS	F	0.04%
	LKQ	D	0.04%
	AMT	D	0.04%
	LNN	B	0.04%
	BPMC	C	0.04%
	CTAS	B	0.04%
	IPG	D	0.04%
	CR	A	0.04%
	UNFI	A	0.04%
	VKTX	F	0.04%
	OPCH	D	0.04%
	BEN	C	0.04%
	HUN	F	0.04%
	ESS	B	0.04%
	JEF	A	0.04%
	EXAS	D	0.04%
	SCSC	B	0.04%
	ADI	D	0.04%
	AJG	B	0.04%
	SWK	D	0.04%
	TNDM	F	0.04%
	WHR	B	0.04%
	NTAP	C	0.04%
	NOVT	D	0.04%
	FITB	A	0.04%
	AWR	B	0.04%
	AYI	B	0.04%
	EXEL	B	0.04%
	ABM	B	0.03%
	ROST	C	0.03%
	FAST	B	0.03%
	WU	D	0.03%
	AMED	F	0.03%
	APO	B	0.03%
	VOYA	B	0.03%
	APLS	D	0.03%
	REZI	A	0.03%
	GFS	C	0.03%
	UNP	C	0.03%
	AZTA	D	0.03%
	KBH	D	0.03%
	ITW	B	0.03%
	SIRI	C	0.03%
	HWKN	B	0.03%
	XRX	F	0.03%
	GNW	A	0.03%
	SPG	B	0.03%
	AAP	C	0.03%
	ENSG	D	0.03%
	AMRX	C	0.03%
	HBAN	A	0.03%
	MCHP	D	0.03%
	CHWY	B	0.03%
	HALO	F	0.03%
	CYTK	F	0.03%
	MD	B	0.03%
	NEO	C	0.03%
	INTU	C	0.03%
	RS	B	0.03%
	TWI	F	0.03%
	CPT	B	0.03%
	RVMD	C	0.03%
	IRDM	D	0.03%
	OFIX	B	0.03%
	MIDD	C	0.03%
	IT	C	0.03%
	SPGI	C	0.03%
	TDS	B	0.03%
	NWS	B	0.03%
	RHI	B	0.03%
	FLGT	F	0.03%
	UPS	C	0.03%
	ENR	B	0.03%
	NSP	D	0.03%
	ICE	C	0.03%
	AMH	D	0.03%
	LBRDA	C	0.03%
	MTB	A	0.03%
	ZBRA	B	0.03%
	UDR	B	0.03%
	SNEX	B	0.03%
	FIS	C	0.03%
	SANM	B	0.03%
	VYX	B	0.03%
	TMHC	B	0.03%
	EMR	A	0.03%
	IVZ	B	0.03%
	SGRY	F	0.03%
	PPG	F	0.03%
	PCVX	D	0.03%
	LNTH	D	0.03%
	WMG	C	0.03%
	ITCI	C	0.03%
	GL	B	0.02%
	R	B	0.02%
	STC	B	0.02%
	PLXS	B	0.02%
	TTEK	F	0.02%
	HST	C	0.02%
	SMMT	D	0.02%
	ATEC	C	0.02%
	COMP	B	0.02%
	FOLD	F	0.02%
	BHF	B	0.02%
	HAIN	C	0.02%
	ATRC	C	0.02%
	IOVA	F	0.02%
	UTZ	D	0.02%
	MHO	D	0.02%
	GKOS	B	0.02%
	PTCT	B	0.02%
	AXSM	B	0.02%
	CORT	B	0.02%
	MRVI	F	0.02%
	NATL	B	0.02%
	XRAY	F	0.02%
	SMPL	B	0.02%
	ADTN	A	0.02%
	MCY	A	0.02%
	ACAD	D	0.02%
	COOP	B	0.02%
	TSCO	D	0.02%
	MAS	D	0.02%
	OTIS	C	0.02%
	EME	C	0.02%
	AMN	F	0.02%
	BR	A	0.02%
	ALIT	C	0.02%
	CRNX	C	0.02%
	CCS	D	0.02%
	PFSI	D	0.02%
	TPH	D	0.02%
	RARE	D	0.02%
	DLR	B	0.02%
	SNPS	B	0.02%
	NDAQ	A	0.02%
	AORT	B	0.02%
	CENTA	C	0.02%
	APD	A	0.02%
	OMF	A	0.02%
	ROK	B	0.02%
	LECO	B	0.02%
	CCI	D	0.02%
	EA	A	0.02%
	BKD	D	0.02%
	NUVL	D	0.02%
	ZG	A	0.02%
	INSM	C	0.02%
	NOW	A	0.02%
	KRYS	B	0.02%
	HLT	A	0.02%
	KELYA	F	0.02%
	SWKS	F	0.02%
	ENTG	D	0.02%
	MDGL	B	0.02%
	SSNC	B	0.02%
	USM	B	0.02%
	ADV	D	0.02%
	MMS	F	0.02%
	GAP	C	0.02%
	BBIO	F	0.02%
	LILAK	D	0.02%
	JJSF	B	0.02%
	THS	D	0.02%
	EQIX	A	0.02%
	JXN	C	0.02%
	KMPR	B	0.02%
	SF	B	0.02%
	WTS	B	0.02%
	CSL	C	0.02%
	WSO	A	0.02%
	MCO	B	0.02%
	MTH	D	0.02%
	VCYT	B	0.01%
	MODG	F	0.01%
	SAVA	D	0.01%
	SLAB	D	0.01%
	ANF	C	0.01%
	TKO	B	0.01%
	UI	A	0.01%
	UBSI	B	0.01%
	POOL	C	0.01%
	ONB	B	0.01%
	FLS	B	0.01%
	EOLS	D	0.01%
	EXR	D	0.01%
	ELVN	D	0.01%
	NX	C	0.01%
	APP	B	0.01%
	GTES	A	0.01%
	FRPT	B	0.01%
	MAT	D	0.01%
	TMCI	D	0.01%
	YORW	D	0.01%
	AVO	C	0.01%
	MIRM	B	0.01%
	UFCS	B	0.01%
	ONTO	D	0.01%
	TCBI	B	0.01%
	NYT	C	0.01%
	VZIO	A	0.01%
	SRRK	B	0.01%
	RGNX	F	0.01%
	KE	C	0.01%
	BRX	A	0.01%
	PGNY	F	0.01%
	APAM	B	0.01%
	FDMT	F	0.01%
	GMS	B	0.01%
	CVCO	A	0.01%
	USPH	B	0.01%
	TYL	B	0.01%
	SAGE	F	0.01%
	PRLB	A	0.01%
	CMC	B	0.01%
	MC	C	0.01%
	URBN	C	0.01%
	WGO	C	0.01%
	AEO	F	0.01%
	BXC	B	0.01%
	SSB	B	0.01%
	BKU	A	0.01%
	GSAT	C	0.01%
	FICO	B	0.01%
	PB	A	0.01%
	CADE	B	0.01%
	SCHL	D	0.01%
	HMN	B	0.01%
	HAS	D	0.01%
	DAWN	F	0.01%
	HURN	B	0.01%
	HWC	B	0.01%
	PLUS	F	0.01%
	GRBK	D	0.01%
	VNT	B	0.01%
	WD	D	0.01%
	ASB	B	0.01%
	CRUS	D	0.01%
	SSYS	C	0.01%
	ACIW	B	0.01%
	MTN	C	0.01%
	KNF	A	0.01%
	MNKD	C	0.01%
	IPGP	D	0.01%
	FDS	B	0.01%
	BCRX	D	0.01%
	UMBF	B	0.01%
	HGV	B	0.01%
	KIDS	D	0.01%
	FIX	A	0.01%
	ANSS	B	0.01%
	ACT	D	0.01%
	MDXG	B	0.01%
	TRUP	B	0.01%
	PRG	C	0.01%
	TARS	B	0.01%
	FNB	A	0.01%
	SYNA	C	0.01%
	LFUS	F	0.01%
	CBSH	A	0.01%
	AKRO	B	0.01%
	BRC	D	0.01%
	PII	D	0.01%
	KFRC	D	0.01%
	LCII	C	0.01%
	SKY	A	0.01%
	PTGX	C	0.01%
	EXLS	B	0.01%
	PIPR	B	0.01%
	CFR	B	0.01%
	IMVT	F	0.01%
	FG	B	0.01%
	MTG	C	0.01%
	FHI	A	0.01%
	TDC	D	0.01%
	IDT	B	0.01%
	DIOD	D	0.01%
	JKHY	D	0.01%
	WBS	A	0.01%
	SBAC	D	0.01%
	HTH	B	0.01%
	VLY	B	0.01%
	IOSP	B	0.01%
	KWR	C	0.01%
	CCRN	F	0.01%
	RDN	C	0.01%
	XYL	D	0.01%
	SBH	C	0.01%
	ENS	D	0.01%
	IR	B	0.01%
	BEAM	D	0.01%
	NGVT	B	0.01%
	IRT	A	0.01%
	UCTT	D	0.01%
	RXRX	F	0.01%
	ASIX	A	0.01%
	CRVL	A	0.01%
	SITE	D	0.01%
	UNF	B	0.01%
	NMRK	B	0.01%
	SXT	B	0.01%
	HLI	B	0.01%
	CABO	C	0.01%
	RCKT	F	0.01%
	SNDX	F	0.01%
	MSCI	C	0.01%
	EXPI	C	0.01%
	MORN	B	0.01%
	WTFC	A	0.01%
	PINC	B	0.01%
	UPBD	B	0.01%
	UHAL	D	0.01%
	INVA	D	0.01%
	ANIP	F	0.01%
	IRWD	F	0.01%
	ADMA	B	0.01%
	IAC	D	0.01%
	AGIO	C	0.01%
	EWTX	C	0.01%
	LANC	C	0.01%
	FNA	C	0.01%
	BECN	B	0.01%
	KROS	D	0.01%
	DFH	D	0.01%
	SANA	F	0.01%
	DOC	D	0.01%
	TTMI	B	0.01%
	CGON	F	0.01%
	ASTH	D	0.01%
	XNCR	B	0.01%
	HUBB	B	0.01%
	LMAT	A	0.01%
	ACHC	F	0.01%
	DYN	F	0.01%
	AIV	C	0.01%
	AOS	F	0.01%
	BCC	B	0.01%
	PSTG	D	0.01%
	CRSR	C	0.01%
	ICFI	F	0.01%
	BGC	C	0.01%
	KIM	A	0.01%
	BOKF	B	0.01%
	TTWO	A	0.01%
	IRM	D	0.01%
	TNC	D	0.01%
	EVH	F	0.01%
	CPRX	C	0.01%
	ADUS	D	0.01%
	KFY	B	0.01%
	KEX	C	0.01%
	RNA	D	0.01%
	COLL	F	0.01%
	TNL	A	0.01%
	CSTL	D	0.01%
	ARDX	F	0.01%
	FTV	C	0.01%
	UFPI	B	0.01%
	BZH	B	0.01%
	TRMB	B	0.01%
	CDNS	B	0.01%
	TEX	D	0.01%
	SEIC	B	0.01%
	JBSS	D	0.01%
	STGW	B	0.01%
	PBH	A	0.01%
	ACLX	C	0.01%
	VSAT	F	0.01%
	RYTM	C	0.01%
	DVAX	C	0.01%
	BURL	A	0.01%
	HRMY	D	0.01%
	QRVO	F	0.01%
	CIEN	B	0.01%
	CNDT	C	0.01%
	VERA	B	0.01%
	GERN	D	0.01%
	EWBC	A	0.01%
	ADSK	A	0.01%
	KEYS	A	0.01%
	AME	A	0.01%
	KYMR	D	0.01%
	EMN	D	0.01%
	NHC	C	0.01%
	LGND	B	0.01%
	GEN	B	0.01%
	VAC	B	0.01%
	CNO	A	0.01%
	ESI	A	0.01%
	NVST	B	0.01%
	ARVN	D	0.01%
	RRX	B	0.01%
	H	B	0.01%
	ASH	D	0.01%
	SPTN	D	0.01%
	BC	C	0.01%
	JANX	C	0.01%
	BGS	F	0.01%
	AIT	A	0.01%
	BHE	B	0.01%
	FL	F	0.01%
	GT	C	0.01%
	PRVA	B	0.01%
	ABNB	C	0.01%
	LGIH	D	0.01%
	DOV	A	0.01%
	VIR	D	0.01%
	UWMC	D	0.01%
	LGF.A	C	0.01%
	NARI	C	0.01%
	AMG	B	0.01%
	HOV	D	0.01%
	NSIT	F	0.01%
	UFPT	B	0.01%
	FDX	B	0.01%
	PCRX	C	0.01%
	PSA	D	0.01%
	FCNCA	A	0.01%
	VCEL	B	0.01%
	ULTA	F	0.01%
	CLDX	F	0.01%
	NXST	C	0.01%
	VRSK	A	0.01%
	INSP	D	0.01%
	TWST	D	0.01%
	IDYA	F	0.01%
	MYGN	F	0.01%
	EEFT	B	0.01%
	TGTX	B	0.01%
	MSEX	B	0.01%
	WDAY	B	0.01%
	FHN	A	0.01%
	GDDY	A	0.01%
	VSH	D	0.01%
	ESAB	B	0.01%
	ARES	A	0.01%
	ATR	B	0.01%
	PANW	C	0.01%
	AMPH	D	0.01%
	NVAX	F	0.01%
	AMRK	F	0.01%
	EPAM	C	0.01%
	SCI	B	0.01%
	SWTX	C	0.01%
	SUPN	C	0.01%
	BCO	D	0.01%
	PDCO	D	0.01%
	EVR	B	0.01%
	SCLX	F	0.0%
	VIRT	B	0.0%
	OABI	F	0.0%
	ABUS	D	0.0%
	QTRX	F	0.0%
	OLMA	F	0.0%
	PRME	F	0.0%
	ABSI	F	0.0%
	LYEL	F	0.0%
	STOK	F	0.0%
	APLT	B	0.0%
	BLFS	C	0.0%
	CELC	F	0.0%
	ALT	C	0.0%
	MNMD	C	0.0%
	PHAT	F	0.0%
	EYPT	F	0.0%
	ORIC	F	0.0%
	CTKB	C	0.0%
	YMAB	F	0.0%
	ALEC	F	0.0%
	COLB	A	0.0%
	PLAB	C	0.0%
	COGT	D	0.0%
	NUVB	C	0.0%
	MLYS	F	0.0%
	WAFD	B	0.0%
	CNS	B	0.0%
	MSGS	A	0.0%
	CRAI	B	0.0%
	IRON	B	0.0%
	SVRA	D	0.0%
	NDSN	B	0.0%
	TW	A	0.0%
	MLI	C	0.0%
	RLAY	F	0.0%
	ITRI	B	0.0%
	ALGM	D	0.0%
	MMI	B	0.0%
	WSFS	A	0.0%
	STEP	B	0.0%
	FORM	D	0.0%
	DFIN	D	0.0%
	UCB	A	0.0%
	OSCR	D	0.0%
	NRIX	D	0.0%
	GGG	B	0.0%
	LBPH	A	0.0%
	CBT	C	0.0%
	BSY	D	0.0%
	OCUL	D	0.0%
	AEIS	B	0.0%
	NVEE	F	0.0%
	FHB	A	0.0%
	ANAB	F	0.0%
	IMNM	F	0.0%
	SAFT	C	0.0%
	ETNB	C	0.0%
	SPRY	D	0.0%
	CATY	B	0.0%
	VRDN	D	0.0%
	GBCI	B	0.0%
	HSII	B	0.0%
	HZO	D	0.0%
	ZEUS	C	0.0%
	PLAY	D	0.0%
	SIGA	F	0.0%
	REYN	D	0.0%
	PLRX	F	0.0%
	IRTC	D	0.0%
	IBP	D	0.0%
	HOMB	A	0.0%
	TYRA	F	0.0%
	TRIP	F	0.0%
	GOLF	B	0.0%
	ARQT	C	0.0%
	ARCT	F	0.0%
	GIC	D	0.0%
	CNA	B	0.0%
	SONO	C	0.0%
	KURA	F	0.0%
	LQDA	D	0.0%
	CBZ	B	0.0%
	CTS	C	0.0%
	FIVE	F	0.0%
	RCUS	F	0.0%
	SFNC	B	0.0%
	DCI	B	0.0%
	PNTG	D	0.0%
	BBSI	B	0.0%
	FRT	B	0.0%
	TVTX	B	0.0%
	FULT	A	0.0%
	UVE	B	0.0%
	DORM	B	0.0%
	AZZ	B	0.0%
	SATS	D	0.0%
	PTC	A	0.0%
	ROG	D	0.0%
	LFST	C	0.0%
	CGEM	F	0.0%
	SIBN	F	0.0%
	NSC	B	0.0%
	VCTR	B	0.0%
	TKR	D	0.0%
	PJT	A	0.0%
	IEX	B	0.0%
	ABCB	B	0.0%

HKND Underweight 170 Positions Relative to BTAL

	Symbol	Grade	Weight
	MSTR	C	-1.19%
	BILL	A	-0.68%
	HQY	B	-0.58%
	ALSN	B	-0.56%
	KMI	A	-0.56%
	CFLT	B	-0.56%
	BKR	B	-0.53%
	BWXT	B	-0.53%
	TXRH	C	-0.51%
	PCAR	B	-0.51%
	LNG	B	-0.51%
	XEL	A	-0.5%
	PNM	F	-0.5%
	AEE	A	-0.49%
	G	B	-0.49%
	PKG	A	-0.49%
	VFC	C	-0.48%
	FOXA	B	-0.48%
	LULU	C	-0.48%
	AXS	A	-0.48%
	TDY	B	-0.48%
	SBRA	C	-0.47%
	AON	A	-0.47%
	HON	B	-0.47%
	HEI	B	-0.47%
	CW	B	-0.47%
	DRI	B	-0.46%
	WEN	D	-0.46%
	SLGN	A	-0.46%
	RNR	C	-0.46%
	LNT	A	-0.46%
	WEC	A	-0.46%
	CB	C	-0.45%
	CMG	B	-0.45%
	ARMK	B	-0.45%
	ADC	B	-0.45%
	WTW	B	-0.45%
	PNW	B	-0.45%
	CHRW	C	-0.45%
	XOM	B	-0.44%
	JAZZ	B	-0.44%
	ACN	C	-0.44%
	DECK	A	-0.44%
	CMS	C	-0.44%
	BWA	D	-0.44%
	CDP	C	-0.44%
	NEU	C	-0.44%
	CBOE	B	-0.43%
	ZI	D	-0.43%
	YUM	B	-0.43%
	MUSA	A	-0.43%
	RTX	C	-0.43%
	X	C	-0.43%
	OHI	C	-0.43%
	CCK	C	-0.43%
	DUK	C	-0.43%
	COLM	B	-0.43%
	VICI	C	-0.42%
	CACI	D	-0.42%
	ED	D	-0.42%
	GLPI	C	-0.42%
	MCD	D	-0.42%
	EG	C	-0.42%
	OLLI	D	-0.41%
	GD	F	-0.41%
	PAG	B	-0.41%
	SAIC	F	-0.4%
	MSA	D	-0.4%
	NOC	D	-0.4%
	TXT	D	-0.4%
	AMCR	D	-0.39%
	FANG	D	-0.39%
	KHC	F	-0.38%
	ACGL	D	-0.38%
	OXY	D	-0.38%
	LMT	D	-0.38%
	KBR	F	-0.37%
	DVN	F	-0.37%
	MUR	D	-0.37%
	ST	F	-0.36%
	NEM	D	-0.35%
	FOXF	F	-0.35%
	MDU	D	-0.32%
	SEDG	F	--0.19%
	WOLF	F	--0.25%
	CELH	F	--0.29%
	RIVN	F	--0.3%
	BRZE	C	--0.33%
	ELF	C	--0.35%
	SHLS	F	--0.35%
	AES	F	--0.35%
	NVCR	C	--0.38%
	RIG	D	--0.38%
	DINO	D	--0.39%
	KSS	F	--0.39%
	ELAN	D	--0.39%
	PINS	D	--0.4%
	MKSI	C	--0.4%
	BLD	D	--0.4%
	KMX	B	--0.4%
	FBIN	D	--0.41%
	ROIV	C	--0.41%
	AGNC	D	--0.41%
	W	F	--0.41%
	POWI	D	--0.41%
	CHX	C	--0.42%
	FCX	D	--0.42%
	CZR	F	--0.42%
	UBER	D	--0.42%
	CWEN	C	--0.42%
	CRSP	D	--0.43%
	MGM	D	--0.43%
	PATH	C	--0.43%
	SSD	D	--0.43%
	F	C	--0.44%
	UGI	A	--0.44%
	RYN	D	--0.44%
	TREX	C	--0.45%
	NWE	B	--0.45%
	D	C	--0.45%
	MTDR	B	--0.45%
	OC	A	--0.46%
	ZS	C	--0.46%
	KRC	C	--0.46%
	PENN	C	--0.46%
	USFD	A	--0.49%
	PFGC	B	--0.49%
	NRG	B	--0.49%
	SNAP	C	--0.49%
	NVT	B	--0.49%
	NET	B	--0.5%
	CAR	C	--0.51%
	RMBS	C	--0.51%
	TT	A	--0.51%
	RBLX	C	--0.51%
	RRC	B	--0.51%
	LPX	B	--0.52%
	CEG	D	--0.52%
	ETN	A	--0.52%
	IOT	A	--0.52%
	MDB	C	--0.53%
	AR	B	--0.53%
	JHG	A	--0.53%
	EXP	A	--0.53%
	RH	B	--0.53%
	DKNG	B	--0.53%
	XPO	B	--0.54%
	KKR	A	--0.55%
	AA	B	--0.56%
	Z	A	--0.56%
	BX	A	--0.57%
	CRWD	B	--0.57%
	GTLS	B	--0.58%
	OWL	A	--0.58%
	EQT	B	--0.59%
	DASH	A	--0.59%
	SAIA	B	--0.59%
	LITE	B	--0.62%
	DUOL	A	--0.63%
	CCL	B	--0.63%
	LYFT	C	--0.65%
	CVNA	B	--0.68%
	DAL	C	--0.68%
	PTON	B	--0.69%
	HOOD	B	--0.72%
	AXON	A	--0.74%
	VST	B	--0.76%
	SOFI	A	--0.79%
	AFRM	B	--0.84%
	PLTR	B	--0.87%

HKND: Top Represented Industries & Keywords

Industries: Biotechnology Banks - Regional - US Diversified Industrials Software - Application Diagnostics & Research Asset Management Business Services Medical Devices Semiconductors Capital Markets Medical Instruments & Supplies Packaged Foods Insurance - Property & Casualty Residential Construction Specialty Chemicals Specialty Retail Medical Care Drug Manufacturers - Specialty & Generic Telecom Services REIT - Residential

Keywords: S&P 500 Medicine Nasdaq 100 Biopharmaceutical Biotechnology Bank Insurance Banking Computing Cancer Electronics Telecommunications Life Sciences Semiconductor Chemical Aerospace Pharmaceutical Clinical Medicine Disease Mining

BTAL: Top Represented Industries & Keywords

Industries: Software - Application Insurance - Property & Casualty Software - Infrastructure Biotechnology Semiconductors Utilities - Regulated Electric Asset Management Banks - Regional - US Specialty Retail Aerospace & Defense Business Services Oil & Gas E&P Building Materials Information Technology Services Restaurants Diagnostics & Research Drug Manufacturers - Major Health Care Plans Diversified Industrials Household & Personal Products

Keywords: S&P 500 Nasdaq 100 Insurance Natural Gas Computing Insurance Products Electricity Real Estate Investment Trust Aerospace Chemical IBD 50 Semiconductor Telecommunications Banking Cloud Computing Dow Jones Component Electronics Biotechnology Medicine Bank