HKND vs. INRO ETF Comparison

Comparison of Humankind US Stock ETF (HKND) to BlackRock U.S. Industry Rotation ETF (INRO)

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

$32.81

Average Daily Volume

1,931

Number of Holdings ^*

959

* 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

$28.19

Average Daily Volume

3,682

Number of Holdings ^*

444

* may have additional holdings in another (foreign) market

Performance

Period	HKND	INRO
30 Days	-0.87%	3.09%
60 Days	-0.16%	7.53%
90 Days	1.88%	8.17%
12 Months	19.10%

285 Overlapping Holdings

	Symbol	Grade	Weight in HKND	Weight in INRO	Overlap
	A	F	0.15%	0.1%	0.1%
	AAPL	C	2.14%	5.81%	2.14%
	ABNB	C	0.01%	0.04%	0.01%
	ABT	C	1.12%	0.07%	0.07%
	ACM	B	0.09%	0.04%	0.04%
	ADBE	C	0.04%	0.34%	0.04%
	ADI	D	0.04%	0.24%	0.04%
	ADP	A	0.07%	0.23%	0.07%
	ADSK	B	0.01%	0.1%	0.01%
	AFG	A	0.03%	0.02%	0.02%
	AFL	C	0.08%	0.17%	0.08%
	AIG	B	0.23%	0.16%	0.16%
	AIZ	A	0.11%	0.03%	0.03%
	AJG	A	0.04%	0.17%	0.04%
	AKAM	F	0.01%	0.01%	0.01%
	ALGN	D	0.01%	0.01%	0.01%
	ALL	B	0.21%	0.14%	0.14%
	ALLY	C	0.04%	0.02%	0.02%
	AMAT	F	0.14%	0.32%	0.14%
	AMD	F	0.06%	0.48%	0.06%
	AME	A	0.01%	0.08%	0.01%
	AMP	A	0.08%	0.17%	0.08%
	AMT	F	0.03%	0.19%	0.03%
	AMZN	A	0.64%	2.44%	0.64%
	ANSS	B	0.01%	0.05%	0.01%
	AOS	F	0.01%	0.06%	0.01%
	APH	B	0.05%	0.13%	0.05%
	APO	B	0.03%	0.04%	0.03%
	APP	B	0.01%	0.05%	0.01%
	ARE	F	0.01%	0.02%	0.01%
	ARES	B	0.02%	0.11%	0.02%
	AVGO	C	0.12%	1.59%	0.12%
	AVTR	F	0.13%	0.04%	0.04%
	AXP	B	0.22%	1.43%	0.22%
	AZO	B	0.04%	0.19%	0.04%
	BAC	A	0.54%	0.89%	0.54%
	BAX	F	0.8%	0.01%	0.01%
	BBWI	C	0.02%	0.03%	0.02%
	BBY	C	0.26%	0.07%	0.07%
	BDX	F	1.13%	0.02%	0.02%
	BEN	C	0.04%	0.03%	0.03%
	BIO	C	0.1%	0.02%	0.02%
	BK	B	0.12%	0.11%	0.11%
	BKNG	A	0.08%	0.09%	0.08%
	BLDR	C	0.02%	0.13%	0.02%
	BMY	B	1.0%	0.03%	0.03%
	BR	A	0.02%	0.07%	0.02%
	BRO	B	0.02%	0.08%	0.02%
	BSX	A	0.75%	0.04%	0.04%
	BSY	F	0.0%	0.02%	0.0%
	BURL	C	0.01%	0.06%	0.01%
	BXP	D	0.02%	0.87%	0.02%
	C	B	0.41%	0.38%	0.38%
	CAH	B	0.31%	0.01%	0.01%
	CARR	C	0.0%	0.37%	0.0%
	CBRE	B	0.12%	0.09%	0.09%
	CCI	F	0.02%	0.09%	0.02%
	CDNS	B	0.01%	0.13%	0.01%
	CDW	F	0.07%	0.04%	0.04%
	CFG	B	0.04%	0.06%	0.04%
	CG	B	0.03%	0.04%	0.03%
	CI	D	0.98%	0.04%	0.04%
	CINF	A	0.04%	0.07%	0.04%
	CME	B	0.03%	0.27%	0.03%
	CMI	A	0.06%	0.13%	0.06%
	CNC	F	0.29%	0.01%	0.01%
	COF	B	0.19%	0.57%	0.19%
	COIN	B	0.01%	0.11%	0.01%
	COR	B	0.33%	0.01%	0.01%
	COST	B	0.1%	0.38%	0.1%
	CRL	C	0.09%	0.02%	0.02%
	CRM	B	0.09%	0.46%	0.09%
	CSGP	F	0.01%	0.06%	0.01%
	CSL	B	0.03%	0.13%	0.03%
	CSX	B	0.01%	0.21%	0.01%
	CTAS	B	0.04%	0.4%	0.04%
	CTSH	A	0.08%	0.03%	0.03%
	CVS	F	0.44%	0.03%	0.03%
	DAY	B	0.01%	0.02%	0.01%
	DE	D	1.98%	0.3%	0.3%
	DELL	C	1.1%	0.07%	0.07%
	DFS	B	0.07%	0.34%	0.07%
	DGX	B	0.61%	0.01%	0.01%
	DHI	D	0.15%	0.38%	0.15%
	DHR	F	0.53%	0.38%	0.38%
	DKS	D	0.02%	0.05%	0.02%
	DLR	C	0.02%	0.11%	0.02%
	DOC	C	0.01%	0.02%	0.01%
	DOV	A	0.01%	0.08%	0.01%
	DVA	C	0.12%	0.0%	0.0%
	DXCM	C	0.13%	0.01%	0.01%
	EBAY	C	0.05%	0.04%	0.04%
	EFX	F	0.01%	0.07%	0.01%
	ELV	F	0.33%	0.04%	0.04%
	EME	B	0.02%	0.06%	0.02%
	EMR	A	0.04%	0.13%	0.04%
	ENPH	F	0.1%	0.03%	0.03%
	ENTG	F	0.02%	0.03%	0.02%
	EPAM	B	0.01%	0.01%	0.01%
	EQIX	B	0.02%	0.17%	0.02%
	ERIE	F	0.01%	0.03%	0.01%
	EW	F	0.28%	0.01%	0.01%
	EXPE	B	0.04%	0.01%	0.01%
	EXR	D	0.0%	0.07%	0.0%
	FAST	B	0.03%	0.38%	0.03%
	FCNCA	B	0.01%	0.06%	0.01%
	FDS	A	0.01%	0.07%	0.01%
	FI	A	0.06%	0.08%	0.06%
	FICO	B	0.01%	0.07%	0.01%
	FIS	B	0.04%	0.04%	0.04%
	FITB	A	0.04%	0.1%	0.04%
	FNF	C	0.07%	0.0%	0.0%
	FSLR	F	0.15%	0.04%	0.04%
	FTNT	B	0.01%	0.08%	0.01%
	FTV	C	0.01%	0.07%	0.01%
	GDDY	B	0.01%	0.01%	0.01%
	GEHC	D	0.95%	0.01%	0.01%
	GEN	B	0.01%	0.03%	0.01%
	GGG	B	0.0%	0.04%	0.0%
	GLW	B	0.11%	0.06%	0.06%
	GOOGL	C	4.05%	3.12%	3.12%
	GPN	B	0.03%	0.02%	0.02%
	GS	B	0.35%	0.55%	0.35%
	GWW	B	0.06%	0.41%	0.06%
	H	B	0.01%	0.0%	0.0%
	HBAN	A	0.03%	0.06%	0.03%
	HCA	D	0.9%	0.03%	0.03%
	HD	B	0.39%	1.45%	0.39%
	HIG	C	0.1%	0.1%	0.1%
	HLT	A	0.02%	0.03%	0.02%
	HOLX	D	0.26%	0.01%	0.01%
	HPE	B	0.21%	0.05%	0.05%
	HPQ	B	0.79%	0.06%	0.06%
	HUBB	C	0.01%	0.04%	0.01%
	HUM	D	0.21%	0.01%	0.01%
	IBM	D	0.25%	0.12%	0.12%
	ICE	C	0.03%	0.32%	0.03%
	IDXX	F	0.02%	0.01%	0.01%
	IEX	B	0.01%	0.04%	0.01%
	ILMN	C	0.11%	0.06%	0.06%
	INTC	C	1.67%	0.2%	0.2%
	INTU	A	0.03%	0.28%	0.03%
	IQV	F	0.45%	0.09%	0.09%
	IR	A	0.01%	0.11%	0.01%
	IRM	D	0.01%	0.07%	0.01%
	ISRG	A	0.34%	0.06%	0.06%
	IT	B	0.03%	0.02%	0.02%
	ITW	B	0.03%	0.22%	0.03%
	J	D	0.28%	0.03%	0.03%
	JBL	C	0.14%	0.02%	0.02%
	JKHY	C	0.01%	0.0%	0.0%
	JNJ	D	2.05%	0.1%	0.1%
	JPM	A	0.71%	1.93%	0.71%
	KEY	B	0.04%	0.05%	0.04%
	KEYS	C	0.01%	0.04%	0.01%
	KLAC	F	0.04%	0.19%	0.04%
	KR	A	0.23%	0.04%	0.04%
	L	A	0.05%	0.04%	0.04%
	LEN	D	0.14%	0.32%	0.14%
	LH	B	0.9%	0.01%	0.01%
	LLY	F	1.78%	0.16%	0.16%
	LOW	B	0.25%	0.56%	0.25%
	LPLA	A	0.04%	0.07%	0.04%
	LRCX	F	0.09%	0.21%	0.09%
	MA	B	0.12%	0.28%	0.12%
	MAR	A	0.06%	0.04%	0.04%
	MAS	D	0.02%	0.11%	0.02%
	MCHP	F	0.02%	0.09%	0.02%
	MCK	B	0.45%	0.03%	0.03%
	MCO	C	0.02%	0.26%	0.02%
	MET	C	0.2%	0.14%	0.14%
	MKL	A	0.05%	0.05%	0.05%
	MMC	D	0.12%	0.32%	0.12%
	MMM	C	0.06%	0.66%	0.06%
	MOH	F	0.07%	0.01%	0.01%
	MPWR	F	0.0%	0.08%	0.0%
	MRK	F	1.57%	0.07%	0.07%
	MRVL	B	0.02%	0.16%	0.02%
	MS	A	0.4%	0.46%	0.4%
	MSCI	B	0.01%	0.16%	0.01%
	MSFT	C	2.29%	4.62%	2.29%
	MTB	A	0.04%	0.1%	0.04%
	MTCH	F	0.01%	0.03%	0.01%
	MTD	F	0.08%	0.07%	0.07%
	MU	D	0.13%	0.24%	0.13%
	NDAQ	B	0.02%	0.11%	0.02%
	NDSN	B	0.0%	0.04%	0.0%
	NOW	A	0.02%	0.31%	0.02%
	NSC	B	0.0%	0.17%	0.0%
	NTAP	D	0.03%	0.04%	0.03%
	NTRS	A	0.04%	0.08%	0.04%
	NVDA	A	0.1%	7.14%	0.1%
	NVR	D	0.05%	0.23%	0.05%
	ON	F	0.03%	0.06%	0.03%
	ORCL	A	0.2%	0.45%	0.2%
	ORLY	A	0.04%	0.25%	0.04%
	OTIS	D	0.02%	0.12%	0.02%
	PANW	B	0.02%	0.19%	0.02%
	PAYC	B	0.01%	0.02%	0.01%
	PAYX	B	0.02%	0.09%	0.02%
	PFE	F	1.53%	0.04%	0.04%
	PFG	C	0.06%	0.07%	0.06%
	PGR	A	0.21%	0.4%	0.21%
	PH	A	0.04%	0.24%	0.04%
	PHM	D	0.07%	0.2%	0.07%
	PNC	B	0.1%	0.24%	0.1%
	PODD	B	0.08%	0.0%	0.0%
	PRU	B	0.17%	0.09%	0.09%
	PSA	D	0.01%	0.1%	0.01%
	PSTG	D	0.01%	0.03%	0.01%
	PTC	B	0.0%	0.04%	0.0%
	PWR	B	0.02%	0.13%	0.02%
	PYPL	A	0.09%	0.05%	0.05%
	QCOM	F	0.15%	0.39%	0.15%
	QRVO	F	0.01%	0.02%	0.01%
	RF	A	0.03%	0.07%	0.03%
	RJF	A	0.06%	0.1%	0.06%
	RMD	C	0.2%	0.01%	0.01%
	ROK	B	0.02%	0.06%	0.02%
	ROP	A	0.01%	0.09%	0.01%
	ROST	D	0.02%	0.18%	0.02%
	RSG	B	0.04%	0.23%	0.04%
	RVTY	C	0.12%	0.04%	0.04%
	SBAC	D	0.01%	0.05%	0.01%
	SCHW	B	0.08%	0.34%	0.08%
	SEIC	A	0.01%	0.06%	0.01%
	SMCI	F	0.01%	0.02%	0.01%
	SNA	A	0.01%	0.05%	0.01%
	SNPS	C	0.02%	0.13%	0.02%
	SPGI	C	0.03%	0.51%	0.03%
	SQ	B	0.06%	0.03%	0.03%
	SSNC	C	0.02%	0.03%	0.02%
	STT	B	0.09%	0.11%	0.09%
	SWK	F	0.04%	0.04%	0.04%
	SWKS	F	0.02%	0.03%	0.02%
	SYF	B	0.08%	0.21%	0.08%
	SYK	A	1.16%	0.04%	0.04%
	SYY	D	0.07%	0.03%	0.03%
	TECH	D	0.07%	0.03%	0.03%
	TER	F	0.01%	0.03%	0.01%
	TFC	B	0.1%	0.18%	0.1%
	TGT	C	0.13%	0.07%	0.07%
	TJX	A	0.06%	0.47%	0.06%
	TMO	F	0.79%	0.49%	0.49%
	TMUS	A	0.42%	4.54%	0.42%
	TOST	A	0.01%	0.01%	0.01%
	TRMB	B	0.01%	0.02%	0.01%
	TROW	A	0.04%	0.05%	0.04%
	TRU	D	0.01%	0.04%	0.01%
	TRV	B	0.17%	0.16%	0.16%
	TSCO	D	0.02%	0.11%	0.02%
	TSLA	B	0.17%	0.98%	0.17%
	TTC	F	0.04%	0.02%	0.02%
	TW	B	0.0%	0.06%	0.0%
	TXN	B	0.1%	0.39%	0.1%
	TYL	B	0.01%	0.04%	0.01%
	UHAL	D	0.01%	0.02%	0.01%
	UHS	D	0.19%	0.01%	0.01%
	ULTA	C	0.02%	0.07%	0.02%
	UNH	B	0.92%	0.23%	0.23%
	UNP	D	0.02%	0.44%	0.02%
	URI	B	0.01%	0.44%	0.01%
	USB	B	0.13%	0.23%	0.13%
	V	A	0.17%	0.31%	0.17%
	VEEV	B	0.01%	0.25%	0.01%
	VLTO	D	0.32%	0.13%	0.13%
	VRSK	A	0.01%	0.07%	0.01%
	VRSN	C	0.01%	0.01%	0.01%
	VRT	B	0.02%	0.08%	0.02%
	VTR	C	0.06%	0.04%	0.04%
	VTRS	B	0.23%	0.01%	0.01%
	WAT	B	0.07%	0.05%	0.05%
	WBA	D	0.23%	0.01%	0.01%
	WDAY	B	0.01%	0.08%	0.01%
	WDC	D	0.1%	0.04%	0.04%
	WELL	B	0.03%	0.11%	0.03%
	WFC	A	0.47%	0.68%	0.47%
	WM	A	0.06%	0.45%	0.06%
	WMT	A	1.14%	0.36%	0.36%
	WRB	B	0.04%	0.05%	0.04%
	WSO	B	0.02%	0.14%	0.02%
	WST	B	0.07%	0.05%	0.05%
	XYL	F	0.01%	0.08%	0.01%
	ZBH	C	0.45%	0.01%	0.01%
	ZBRA	B	0.03%	0.03%	0.03%

HKND Overweight 674 Positions Relative to INRO

	Symbol	Grade	Weight
	PG	C	3.85%
	ABBV	F	1.98%
	MOS	D	1.74%
	CTVA	C	1.54%
	ADM	F	1.36%
	CL	F	1.22%
	AMGN	F	1.04%
	CF	B	0.99%
	ECL	C	0.89%
	T	A	0.89%
	VZ	D	0.87%
	GILD	B	0.83%
	BG	D	0.79%
	FMC	F	0.75%
	CMCSA	B	0.7%
	AGCO	F	0.64%
	VRTX	B	0.63%
	FDP	B	0.57%
	INGR	B	0.55%
	SJM	F	0.48%
	REGN	F	0.43%
	KVUE	A	0.42%
	PEP	D	0.38%
	AWK	D	0.35%
	CHD	A	0.35%
	CAG	F	0.33%
	DD	D	0.32%
	THC	B	0.32%
	MDLZ	F	0.3%
	SPB	A	0.28%
	GIS	F	0.27%
	FELE	B	0.26%
	K	A	0.26%
	BIIB	F	0.26%
	CLX	A	0.24%
	DIS	B	0.21%
	CHTR	B	0.2%
	MRNA	F	0.2%
	SOLV	C	0.18%
	CSCO	A	0.18%
	DOW	F	0.18%
	ZWS	B	0.18%
	TFX	F	0.15%
	ENOV	C	0.15%
	CTLT	D	0.14%
	HSIC	F	0.13%
	LUMN	C	0.13%
	RUN	F	0.12%
	IART	C	0.11%
	ICUI	D	0.11%
	SEM	C	0.11%
	INCY	B	0.11%
	MASI	B	0.1%
	RPRX	F	0.1%
	TITN	C	0.1%
	WTRG	C	0.09%
	LXU	C	0.09%
	FTRE	D	0.09%
	MAN	F	0.09%
	UTHR	B	0.09%
	OGN	F	0.09%
	NFLX	A	0.09%
	FLO	F	0.09%
	AHCO	F	0.09%
	KMB	D	0.09%
	ALNY	D	0.09%
	EMBC	C	0.08%
	POST	D	0.08%
	ITGR	B	0.08%
	EHC	B	0.08%
	RDNT	B	0.08%
	ALG	B	0.08%
	KD	A	0.07%
	EQR	C	0.07%
	BMRN	F	0.07%
	WBD	B	0.07%
	UAN	B	0.07%
	CWT	D	0.07%
	MMSI	B	0.07%
	DXC	B	0.07%
	CPB	F	0.07%
	HSY	F	0.06%
	EXEL	B	0.06%
	SRPT	F	0.06%
	AYI	A	0.06%
	SNX	C	0.06%
	IFF	F	0.06%
	RGA	A	0.06%
	GMED	B	0.06%
	FOX	A	0.06%
	HAE	B	0.06%
	CRBG	C	0.06%
	CNMD	C	0.06%
	ACI	C	0.06%
	AVB	B	0.06%
	NBIX	C	0.06%
	SMG	D	0.06%
	ROKU	C	0.05%
	OPK	B	0.05%
	MKC	D	0.05%
	SHW	A	0.05%
	MAA	C	0.05%
	LNC	B	0.05%
	LBRDA	C	0.05%
	JLL	C	0.05%
	SJW	F	0.05%
	SUI	F	0.05%
	TOL	B	0.05%
	OMC	A	0.05%
	WLK	F	0.05%
	PEN	C	0.05%
	EQH	B	0.05%
	BRKR	F	0.05%
	UNFI	B	0.05%
	GXO	B	0.05%
	BERY	D	0.05%
	SCSC	B	0.04%
	LNTH	F	0.04%
	ORI	A	0.04%
	MEDP	D	0.04%
	HUN	F	0.04%
	OMI	F	0.04%
	RVMD	C	0.04%
	NOVT	C	0.04%
	TMHC	B	0.04%
	TDS	C	0.04%
	GPC	D	0.04%
	ESS	C	0.04%
	UNM	A	0.04%
	CR	B	0.04%
	ITCI	B	0.04%
	WMG	B	0.04%
	AVNS	F	0.04%
	MD	C	0.04%
	JEF	B	0.04%
	VKTX	F	0.04%
	AWR	C	0.04%
	KLG	F	0.04%
	FYBR	D	0.04%
	EXAS	F	0.04%
	FAF	C	0.04%
	INVH	D	0.04%
	PCVX	D	0.04%
	WHR	B	0.04%
	THG	A	0.03%
	NSP	F	0.03%
	MSI	B	0.03%
	ARW	F	0.03%
	NUVL	D	0.03%
	GNW	B	0.03%
	WTS	B	0.03%
	EL	F	0.03%
	MDGL	C	0.03%
	OPCH	F	0.03%
	MTH	D	0.03%
	JXN	C	0.03%
	NEO	B	0.03%
	CHWY	B	0.03%
	REZI	A	0.03%
	TNDM	F	0.03%
	KBH	D	0.03%
	SF	A	0.03%
	VOYA	B	0.03%
	RKT	F	0.03%
	MIDD	D	0.03%
	SMMT	D	0.03%
	HALO	C	0.03%
	ENSG	C	0.03%
	CPT	C	0.03%
	AMRX	B	0.03%
	AMH	C	0.03%
	CYTK	C	0.03%
	FLGT	F	0.03%
	RS	C	0.03%
	SPG	A	0.03%
	ELS	B	0.03%
	IONS	F	0.03%
	NWS	B	0.03%
	ENR	A	0.03%
	OFIX	C	0.03%
	KDP	C	0.03%
	GME	C	0.03%
	UPS	C	0.03%
	DAR	B	0.03%
	VYX	B	0.03%
	IRDM	B	0.03%
	IPG	F	0.03%
	SANM	C	0.03%
	UDR	C	0.03%
	LKQ	C	0.03%
	CNXN	C	0.03%
	SGRY	F	0.03%
	LYV	A	0.03%
	RHI	B	0.03%
	PPG	F	0.03%
	LNN	B	0.03%
	IVZ	B	0.03%
	BPMC	C	0.03%
	SNEX	B	0.03%
	SCI	B	0.02%
	XRAY	F	0.02%
	MSEX	C	0.02%
	FHN	A	0.02%
	GH	B	0.02%
	NATL	B	0.02%
	SEE	C	0.02%
	EVR	B	0.02%
	GL	B	0.02%
	VIR	C	0.02%
	ZION	B	0.02%
	HST	D	0.02%
	AAP	C	0.02%
	UTZ	F	0.02%
	GKOS	B	0.02%
	AMPH	C	0.02%
	JANX	C	0.02%
	AVT	C	0.02%
	AXSM	B	0.02%
	ATR	A	0.02%
	TTEK	F	0.02%
	WCC	B	0.02%
	PCRX	C	0.02%
	R	B	0.02%
	SRRK	C	0.02%
	FOLD	F	0.02%
	ADTN	B	0.02%
	CENTA	C	0.02%
	ALIT	C	0.02%
	ACAD	C	0.02%
	SMPL	B	0.02%
	INSM	C	0.02%
	EWTX	C	0.02%
	COOP	B	0.02%
	BKD	F	0.02%
	ESAB	B	0.02%
	CCS	F	0.02%
	PLXS	C	0.02%
	APLS	F	0.02%
	BHF	B	0.02%
	RARE	F	0.02%
	IOVA	D	0.02%
	CMA	A	0.02%
	MCY	B	0.02%
	KRYS	C	0.02%
	ATEC	C	0.02%
	ADV	F	0.02%
	PFSI	D	0.02%
	ANET	C	0.02%
	MHO	D	0.02%
	TPH	C	0.02%
	DOX	C	0.02%
	IBKR	A	0.02%
	TNET	C	0.02%
	HAIN	F	0.02%
	CRNX	B	0.02%
	GAP	B	0.02%
	PTCT	C	0.02%
	AORT	C	0.02%
	EA	A	0.02%
	NWL	B	0.02%
	THS	F	0.02%
	AMKR	F	0.02%
	APD	B	0.02%
	LECO	C	0.02%
	OMF	A	0.02%
	TPG	B	0.02%
	LILAK	F	0.02%
	AZTA	F	0.02%
	XRX	F	0.02%
	JJSF	C	0.02%
	ZG	B	0.02%
	COMP	B	0.02%
	GFS	C	0.02%
	KELYA	F	0.02%
	SIRI	C	0.02%
	WU	F	0.02%
	WMS	F	0.02%
	CHE	D	0.02%
	KMPR	A	0.02%
	HWKN	C	0.02%
	TWI	F	0.02%
	ATRC	C	0.02%
	MMS	F	0.02%
	PLD	D	0.02%
	BBIO	F	0.02%
	OPEN	F	0.02%
	CORT	B	0.02%
	ABM	B	0.02%
	AMED	F	0.02%
	USM	C	0.02%
	PCTY	B	0.01%
	YORW	F	0.01%
	SONO	C	0.01%
	POOL	D	0.01%
	USPH	C	0.01%
	VCTR	C	0.01%
	SFNC	B	0.01%
	ACHC	F	0.01%
	UBSI	B	0.01%
	EOLS	F	0.01%
	TRIP	D	0.01%
	URBN	C	0.01%
	ABCB	B	0.01%
	ONB	B	0.01%
	NYT	C	0.01%
	SIBN	D	0.01%
	CGEM	F	0.01%
	AEO	F	0.01%
	PLAY	C	0.01%
	MIRM	B	0.01%
	VZIO	D	0.01%
	OCUL	C	0.01%
	BKU	A	0.01%
	LFST	B	0.01%
	REG	A	0.01%
	DLB	D	0.01%
	VSAT	F	0.01%
	BCRX	D	0.01%
	GMS	B	0.01%
	PJT	B	0.01%
	FIVE	F	0.01%
	MAT	C	0.01%
	KE	C	0.01%
	DYN	D	0.01%
	NX	C	0.01%
	CMC	B	0.01%
	BRX	A	0.01%
	FOUR	B	0.01%
	CCRN	F	0.01%
	WTM	A	0.01%
	GTES	B	0.01%
	FRPT	B	0.01%
	WH	A	0.01%
	FLS	B	0.01%
	ELVN	C	0.01%
	CVCO	B	0.01%
	PLUS	F	0.01%
	MC	B	0.01%
	KIDS	F	0.01%
	MTN	C	0.01%
	APAM	B	0.01%
	WGO	B	0.01%
	PII	F	0.01%
	IRTC	C	0.01%
	DORM	B	0.01%
	SSB	B	0.01%
	PB	B	0.01%
	DIOD	F	0.01%
	SYNA	C	0.01%
	SANA	F	0.01%
	SATS	D	0.01%
	KURA	F	0.01%
	HAS	D	0.01%
	ACT	C	0.01%
	GRBK	D	0.01%
	DBX	B	0.01%
	PRLB	C	0.01%
	LBPH	A	0.01%
	VRDN	C	0.01%
	WPC	F	0.01%
	KFRC	C	0.01%
	SFM	B	0.01%
	CADE	B	0.01%
	LFUS	D	0.01%
	APG	C	0.01%
	HWC	B	0.01%
	RLI	A	0.01%
	OZK	B	0.01%
	SSYS	B	0.01%
	UCTT	F	0.01%
	HGV	B	0.01%
	ACIW	B	0.01%
	FNA	B	0.01%
	DAWN	D	0.01%
	WD	D	0.01%
	BXC	B	0.01%
	TCBI	B	0.01%
	AVO	B	0.01%
	FNB	B	0.01%
	VNT	C	0.01%
	FIX	B	0.01%
	UI	B	0.01%
	ASB	B	0.01%
	FG	B	0.01%
	HURN	B	0.01%
	LCII	D	0.01%
	SKY	B	0.01%
	NTLA	F	0.01%
	CBSH	A	0.01%
	HMN	B	0.01%
	UMBF	B	0.01%
	KNF	C	0.01%
	CNM	D	0.01%
	PRG	B	0.01%
	MTG	C	0.01%
	TDC	F	0.01%
	RDN	C	0.01%
	PIPR	B	0.01%
	BRC	B	0.01%
	IMVT	D	0.01%
	CRVL	B	0.01%
	HTH	B	0.01%
	IPGP	C	0.01%
	PTGX	D	0.01%
	MDXG	A	0.01%
	ASIX	B	0.01%
	CXT	F	0.01%
	KWR	C	0.01%
	BEAM	C	0.01%
	IOSP	B	0.01%
	IRT	A	0.01%
	PNFP	B	0.01%
	TRUP	B	0.01%
	AKRO	C	0.01%
	MSM	C	0.01%
	UPBD	B	0.01%
	RYAN	B	0.01%
	ENS	D	0.01%
	UNF	B	0.01%
	AXNX	A	0.01%
	CABO	B	0.01%
	SBH	A	0.01%
	WBS	A	0.01%
	RCM	B	0.01%
	CFR	B	0.01%
	ADMA	C	0.01%
	FND	F	0.01%
	GSAT	B	0.01%
	RCKT	F	0.01%
	MYGN	F	0.01%
	IAC	F	0.01%
	LANC	C	0.01%
	EXLS	B	0.01%
	ANIP	C	0.01%
	MNKD	C	0.01%
	SNDX	D	0.01%
	UWMC	F	0.01%
	AGIO	B	0.01%
	SXT	B	0.01%
	VLY	B	0.01%
	CC	C	0.01%
	TNC	F	0.01%
	MORN	B	0.01%
	JBSS	F	0.01%
	SITE	D	0.01%
	LAMR	D	0.01%
	EVH	F	0.01%
	NVAX	F	0.01%
	COLL	F	0.01%
	TDOC	C	0.01%
	AGL	F	0.01%
	AIV	D	0.01%
	BECN	B	0.01%
	RXRX	C	0.01%
	NGVT	B	0.01%
	CE	F	0.01%
	INVA	C	0.01%
	FHI	A	0.01%
	TVTX	B	0.01%
	HLI	B	0.01%
	CLDX	F	0.01%
	ADUS	D	0.01%
	FL	F	0.01%
	ARDX	F	0.01%
	CRSR	C	0.01%
	HRB	D	0.01%
	GERN	F	0.01%
	DFH	F	0.01%
	KEX	A	0.01%
	IDT	B	0.01%
	WTFC	B	0.01%
	AXTA	A	0.01%
	O	D	0.01%
	PINC	B	0.01%
	TGNA	B	0.01%
	TEX	D	0.01%
	NMRK	B	0.01%
	TTWO	A	0.01%
	HRMY	D	0.01%
	BCC	B	0.01%
	WAL	B	0.01%
	KFY	B	0.01%
	EXPI	C	0.01%
	BOKF	B	0.01%
	RNA	B	0.01%
	NHC	B	0.01%
	ASTH	F	0.01%
	LMAT	B	0.01%
	CGON	D	0.01%
	ALB	C	0.01%
	KIM	A	0.01%
	STGW	B	0.01%
	CPRX	C	0.01%
	ICFI	C	0.01%
	UFPI	B	0.01%
	KO	F	0.01%
	NSIT	F	0.01%
	BGC	C	0.01%
	IDYA	F	0.01%
	PBH	A	0.01%
	TTMI	B	0.01%
	DVAX	B	0.01%
	EMN	D	0.01%
	CSTL	C	0.01%
	CNXC	F	0.01%
	IRWD	D	0.01%
	ARVN	D	0.01%
	TNL	A	0.01%
	TARS	C	0.01%
	XNCR	B	0.01%
	BZH	B	0.01%
	ASH	F	0.01%
	LGND	C	0.01%
	VCEL	B	0.01%
	SPTN	F	0.01%
	LGF.A	D	0.01%
	VSH	F	0.01%
	RRX	B	0.01%
	HOV	F	0.01%
	TWST	F	0.01%
	KYMR	C	0.01%
	CLH	B	0.01%
	VNO	C	0.01%
	PDCO	F	0.01%
	CNO	B	0.01%
	ESI	B	0.01%
	HHH	B	0.01%
	PRVA	B	0.01%
	GNRC	B	0.01%
	BC	D	0.01%
	SNV	B	0.01%
	FFIV	B	0.01%
	BGS	F	0.01%
	NTRA	B	0.01%
	RYTM	C	0.01%
	VAC	B	0.01%
	AMN	F	0.01%
	RGEN	C	0.01%
	ASGN	D	0.01%
	NVST	C	0.01%
	SWTX	C	0.01%
	EWBC	B	0.01%
	FDX	B	0.01%
	CNDT	B	0.01%
	AMG	B	0.01%
	BHE	C	0.01%
	CIEN	B	0.01%
	EEFT	C	0.01%
	GT	C	0.01%
	THO	B	0.01%
	KROS	C	0.01%
	INSP	F	0.01%
	NARI	C	0.01%
	UFPT	C	0.01%
	LGIH	F	0.01%
	COHR	C	0.01%
	VERA	B	0.01%
	NXST	C	0.01%
	MRVI	F	0.01%
	AIT	A	0.01%
	JNPR	D	0.01%
	TGTX	B	0.01%
	ARWR	C	0.01%
	TXG	F	0.01%
	SUPN	C	0.01%
	STC	C	0.01%
	ACLX	C	0.01%
	EDR	B	0.01%
	BCO	F	0.01%
	AMRK	F	0.01%
	DNLI	C	0.01%
	SIGI	B	0.01%
	FCN	F	0.01%
	SCLX	F	0.0%
	VIRT	B	0.0%
	OABI	D	0.0%
	ABUS	D	0.0%
	ANAB	F	0.0%
	BLFS	C	0.0%
	CELC	D	0.0%
	PRME	D	0.0%
	STOK	B	0.0%
	QTRX	D	0.0%
	ABSI	F	0.0%
	ORIC	D	0.0%
	SVRA	F	0.0%
	ALT	C	0.0%
	NUVB	B	0.0%
	FORM	F	0.0%
	CTKB	C	0.0%
	ALGM	F	0.0%
	OLMA	F	0.0%
	LYEL	D	0.0%
	SIGA	F	0.0%
	MNMD	B	0.0%
	ALEC	D	0.0%
	PLAB	C	0.0%
	DFIN	D	0.0%
	LQDA	D	0.0%
	OSCR	D	0.0%
	WAFD	B	0.0%
	WSFS	B	0.0%
	MSGS	B	0.0%
	UCB	B	0.0%
	RLAY	F	0.0%
	GIC	F	0.0%
	TYRA	F	0.0%
	ARCT	F	0.0%
	PHAT	F	0.0%
	FDMT	F	0.0%
	ZEUS	C	0.0%
	COGT	D	0.0%
	COLB	A	0.0%
	REYN	D	0.0%
	YMAB	D	0.0%
	SAVA	D	0.0%
	PGNY	F	0.0%
	MMI	B	0.0%
	HZO	F	0.0%
	CRAI	C	0.0%
	GOLF	B	0.0%
	SAFT	B	0.0%
	APLT	C	0.0%
	STEP	B	0.0%
	AEIS	B	0.0%
	NVEE	F	0.0%
	CNS	C	0.0%
	IMNM	F	0.0%
	CNA	C	0.0%
	ONTO	F	0.0%
	COTY	D	0.0%
	MLI	B	0.0%
	FHB	B	0.0%
	ARQT	B	0.0%
	AZZ	B	0.0%
	MODG	F	0.0%
	IBP	F	0.0%
	CBT	C	0.0%
	TKR	F	0.0%
	HOMB	A	0.0%
	RGNX	D	0.0%
	ETNB	C	0.0%
	ITRI	B	0.0%
	ANF	C	0.0%
	CATY	B	0.0%
	SAGE	F	0.0%
	IRON	C	0.0%
	TTD	B	0.0%
	HSII	B	0.0%
	CBZ	B	0.0%
	EYPT	C	0.0%
	CHH	B	0.0%
	MLYS	D	0.0%
	TKO	D	0.0%
	NRIX	B	0.0%
	SPRY	C	0.0%
	RCUS	F	0.0%
	CRUS	F	0.0%
	PLRX	D	0.0%
	UVE	B	0.0%
	SCHL	F	0.0%
	UFCS	B	0.0%
	GBCI	B	0.0%
	TMCI	C	0.0%
	ROG	D	0.0%
	FRT	B	0.0%
	FULT	B	0.0%
	DCI	A	0.0%
	ITT	A	0.0%
	PNTG	D	0.0%
	BBSI	B	0.0%
	SLAB	F	0.0%
	CTS	C	0.0%
	VCYT	B	0.0%

HKND Underweight 159 Positions Relative to INRO

	Symbol	Grade	Weight
	META	B	-3.86%
	GOOG	C	-2.71%
	HON	B	-1.28%
	MLM	B	-0.82%
	VMC	B	-0.81%
	XOM	B	-0.79%
	PM	B	-0.67%
	NEE	D	-0.6%
	TT	B	-0.54%
	CAT	B	-0.53%
	UBER	F	-0.43%
	BRK.A	B	-0.41%
	SW	B	-0.41%
	CVX	A	-0.4%
	BX	A	-0.38%
	SO	D	-0.37%
	DUK	D	-0.33%
	CB	C	-0.31%
	MO	A	-0.31%
	PKG	B	-0.31%
	JCI	A	-0.31%
	BALL	D	-0.28%
	IP	B	-0.28%
	ETN	B	-0.27%
	KKR	B	-0.27%
	CEG	D	-0.26%
	AVY	F	-0.25%
	WCN	A	-0.24%
	GRMN	A	-0.23%
	CPRT	A	-0.23%
	AMCR	D	-0.22%
	AEP	D	-0.2%
	AON	B	-0.2%
	COP	C	-0.19%
	CCK	D	-0.17%
	GE	D	-0.17%
	PCAR	B	-0.16%
	GEV	B	-0.16%
	PCG	A	-0.15%
	EXC	C	-0.15%
	FCX	F	-0.15%
	XEL	A	-0.14%
	RTX	D	-0.14%
	MCD	C	-0.14%
	NEM	F	-0.14%
	ETR	B	-0.13%
	ACN	B	-0.13%
	MELI	D	-0.13%
	NXPI	F	-0.13%
	PLTR	B	-0.13%
	LII	B	-0.12%
	EIX	C	-0.12%
	ODFL	B	-0.12%
	EOG	A	-0.11%
	CRWD	B	-0.11%
	WMB	B	-0.1%
	WAB	B	-0.1%
	LMT	D	-0.1%
	OC	A	-0.09%
	PSX	C	-0.08%
	MPC	D	-0.08%
	KMI	B	-0.08%
	BA	F	-0.08%
	OKE	A	-0.08%
	ES	D	-0.08%
	GM	B	-0.08%
	FE	D	-0.08%
	WSM	F	-0.07%
	FBIN	F	-0.07%
	NRG	C	-0.07%
	ROL	C	-0.07%
	SBUX	B	-0.07%
	ACGL	C	-0.07%
	ALLE	D	-0.07%
	DDOG	B	-0.06%
	TEAM	B	-0.06%
	VICI	D	-0.06%
	EVRG	A	-0.06%
	MSTR	B	-0.06%
	FANG	C	-0.06%
	TDG	D	-0.06%
	LNT	C	-0.06%
	LNG	B	-0.06%
	PINS	F	-0.06%
	F	C	-0.06%
	GD	C	-0.06%
	WTW	A	-0.06%
	VLO	C	-0.06%
	NOC	D	-0.06%
	KMX	B	-0.05%
	LDOS	C	-0.05%
	PPL	A	-0.05%
	JBHT	C	-0.05%
	WY	F	-0.05%
	PNR	A	-0.05%
	OXY	F	-0.05%
	TRGP	B	-0.05%
	CMG	B	-0.05%
	HES	B	-0.05%
	EQT	B	-0.04%
	STX	D	-0.04%
	MKTX	C	-0.04%
	SNAP	C	-0.04%
	HOOD	B	-0.04%
	LHX	B	-0.04%
	EG	D	-0.04%
	HUBS	B	-0.04%
	CBOE	D	-0.04%
	BAH	C	-0.04%
	MDT	D	-0.04%
	DVN	F	-0.04%
	GLPI	D	-0.03%
	MRO	B	-0.03%
	CTRA	B	-0.03%
	DOCU	B	-0.03%
	MANH	C	-0.03%
	FLUT	A	-0.03%
	TDY	B	-0.03%
	DT	C	-0.03%
	TPL	B	-0.03%
	DASH	A	-0.03%
	ZS	B	-0.03%
	RCL	A	-0.03%
	ZM	B	-0.03%
	HWM	B	-0.03%
	NET	B	-0.02%
	DG	F	-0.02%
	IOT	B	-0.02%
	DRI	B	-0.02%
	ZTS	D	-0.02%
	OVV	C	-0.02%
	CNH	D	-0.02%
	SNOW	C	-0.02%
	YUM	B	-0.02%
	Z	B	-0.02%
	AXON	B	-0.02%
	DAL	A	-0.02%
	KNX	C	-0.02%
	WYNN	C	-0.01%
	MGM	D	-0.01%
	STE	D	-0.01%
	HEI	A	-0.01%
	OKTA	C	-0.01%
	CHRD	D	-0.01%
	DPZ	C	-0.01%
	TWLO	B	-0.01%
	LUV	B	-0.01%
	DKNG	B	-0.01%
	RIVN	F	-0.01%
	MDB	C	-0.01%
	APA	F	-0.01%
	DLTR	F	-0.01%
	CPAY	A	-0.01%
	TXT	D	-0.01%
	LVS	C	-0.01%
	DINO	D	-0.01%
	CCL	B	-0.01%
	HII	F	-0.0%
	HEI	A	-0.0%

HKND: Top Represented Industries & Keywords

Industries: Biotechnology Banks - Regional - US Diversified Industrials Software - Application Diagnostics & Research Business Services Medical Devices Asset Management 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

INRO: Top Represented Industries & Keywords

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

Keywords: S&P 500 Nasdaq 100 Computing Insurance Natural Gas Electronics Bank Dow Jones Component Aerospace Banking Electricity Cloud Computing Semiconductor Insurance Products Medicine Chemical Investment Bank Mining Telecommunications Work From Home