INRO vs. QTUM ETF Comparison

Comparison of BlackRock U.S. Industry Rotation ETF (INRO) to Defiance Quantum ETF (QTUM)

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 ^*

429

* may have additional holdings in another (foreign) market

QTUM

Defiance Quantum ETF

QTUM Description

The investment seeks to track the total return performance, before fees and expenses, of the BlueStar Quantum Computing and Machine Learning Index (the "index"). Under normal circumstances, at least 80% of the fund's total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the index or in depositary receipts representing such component securities. The index consists of a modified equal-weighted portfolio of the stock of companies whose products or services are predominantly tied to the development of quantum computing and machine learning technology. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$68.45

Average Daily Volume

38,983

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	INRO	QTUM
30 Days	5.09%	8.84%
60 Days	6.25%	11.51%
90 Days	7.10%	10.08%
12 Months		37.45%

29 Overlapping Holdings

Symbol	Grade	Weight in INRO	Weight in QTUM	Overlap
ABBV	D	0.39%	1.32%	0.39%
ACN	C	0.07%	1.73%	0.07%
ADI	D	0.22%	1.22%	0.22%
AMAT	F	0.3%	0.99%	0.3%
AMD	F	0.47%	1.19%	0.47%
BAH	F	0.04%	1.31%	0.04%
CDNS	B	0.12%	1.35%	0.12%
GOOGL	C	3.13%	1.37%	1.37%
HON	B	1.6%	1.5%	1.5%
HPE	B	0.05%	1.4%	0.05%
IBM	C	0.06%	1.75%	0.06%
INTC	D	0.22%	1.08%	0.22%
KLAC	D	0.17%	1.03%	0.17%
LMT	D	0.05%	1.61%	0.05%
LRCX	F	0.19%	0.93%	0.19%
MCHP	D	0.08%	0.95%	0.08%
MRVL	B	0.16%	1.69%	0.16%
MSFT	F	4.24%	1.3%	1.3%
MSTR	C	0.1%	4.52%	0.1%
MU	D	0.23%	0.97%	0.23%
NOC	D	0.03%	1.59%	0.03%
NVDA	C	7.62%	1.61%	1.61%
NXPI	D	0.12%	1.08%	0.12%
ON	D	0.06%	1.22%	0.06%
QCOM	F	0.39%	0.99%	0.39%
RTX	C	0.06%	1.54%	0.06%
SNPS	B	0.12%	1.27%	0.12%
TER	D	0.03%	0.96%	0.03%
TXN	C	0.39%	1.38%	0.39%

INRO Overweight 400 Positions Relative to QTUM

Symbol	Grade	Weight
AAPL	C	5.76%
TMUS	B	4.56%
META	D	3.68%
GOOG	C	2.72%
JPM	A	1.74%
AVGO	D	1.54%
AMZN	C	1.47%
BXP	D	1.35%
TSLA	B	1.32%
HD	A	1.17%
AXP	A	1.14%
NEE	D	0.97%
XOM	B	0.95%
CBRE	B	0.87%
PM	B	0.87%
BAC	A	0.81%
MMM	D	0.76%
TT	A	0.65%
GS	A	0.64%
WFC	A	0.64%
CSGP	D	0.63%
SO	D	0.6%
VMC	B	0.59%
MLM	B	0.57%
LLY	F	0.57%
MS	A	0.55%
SPGI	C	0.55%
UNP	C	0.54%
DUK	C	0.54%
CVX	A	0.5%
UBER	D	0.49%
ETN	A	0.48%
COF	B	0.48%
URI	B	0.47%
COST	B	0.47%
BX	A	0.45%
ORCL	B	0.45%
CRM	B	0.45%
CEG	D	0.45%
WMT	A	0.45%
GWW	B	0.44%
LOW	D	0.43%
CARR	D	0.42%
SCHW	B	0.41%
MO	A	0.41%
FAST	B	0.4%
JCI	C	0.39%
TJX	A	0.39%
WM	A	0.37%
PWR	A	0.37%
JNJ	D	0.37%
CAT	B	0.35%
CTAS	B	0.34%
C	A	0.34%
ICE	C	0.33%
DHI	D	0.33%
ADBE	C	0.32%
AEP	D	0.32%
KKR	A	0.31%
GEV	B	0.31%
CME	A	0.3%
NOW	A	0.3%
ADP	B	0.29%
DFS	B	0.29%
LEN	D	0.28%
MCO	B	0.28%
INTU	C	0.26%
PCG	A	0.26%
EXC	C	0.25%
CSX	B	0.25%
Z	A	0.25%
MRK	F	0.24%
XEL	A	0.24%
EMR	A	0.24%
COP	C	0.24%
TMO	F	0.24%
PGR	A	0.23%
GRMN	B	0.22%
NSC	B	0.22%
WCN	A	0.21%
ORLY	B	0.21%
PNC	B	0.21%
CPRT	A	0.21%
EIX	B	0.21%
NVR	D	0.21%
DE	A	0.2%
USB	A	0.2%
AMGN	D	0.2%
RSG	A	0.2%
COIN	C	0.2%
ETR	B	0.2%
VST	B	0.19%
EME	C	0.19%
APH	A	0.19%
AMP	A	0.19%
DHR	F	0.19%
SYF	B	0.18%
PANW	C	0.18%
WELL	A	0.18%
PLTR	B	0.18%
PHM	D	0.18%
TFC	A	0.17%
CB	C	0.17%
PH	A	0.17%
ODFL	B	0.16%
WSO	A	0.16%
MMC	B	0.16%
MSCI	C	0.16%
VRT	B	0.16%
EOG	A	0.15%
AME	A	0.15%
FE	C	0.15%
AZO	C	0.15%
VRTX	F	0.15%
BLDR	D	0.15%
ITW	B	0.15%
NDAQ	A	0.14%
ROST	C	0.14%
ES	D	0.14%
PFE	D	0.14%
LII	A	0.14%
CSL	C	0.14%
GILD	C	0.14%
WMB	A	0.13%
RJF	A	0.13%
SW	A	0.13%
FCX	D	0.12%
MAS	D	0.12%
OC	A	0.12%
CRWD	B	0.12%
OKE	A	0.12%
ARES	A	0.12%
NRG	B	0.12%
EVRG	A	0.11%
REGN	F	0.11%
PAYX	C	0.11%
LNT	A	0.11%
VLTO	D	0.11%
BK	A	0.11%
PCAR	B	0.11%
AMT	D	0.11%
AON	A	0.11%
NEM	D	0.11%
ACM	A	0.11%
BMY	B	0.11%
APP	B	0.1%
AJG	B	0.1%
CMI	A	0.1%
PKG	A	0.1%
KMI	A	0.1%
PSX	C	0.1%
MPC	D	0.1%
ROK	B	0.1%
EQIX	A	0.1%
NTRS	A	0.1%
GLW	B	0.09%
GM	B	0.09%
TSCO	D	0.09%
IP	B	0.09%
AIG	B	0.09%
LNG	B	0.09%
MTB	A	0.09%
AFL	B	0.09%
ROP	B	0.09%
TRV	B	0.09%
VRSK	A	0.09%
SLB	C	0.09%
ADSK	A	0.09%
BR	A	0.08%
TRGP	B	0.08%
EFX	F	0.08%
ZTS	D	0.08%
OTIS	C	0.08%
HUBB	B	0.08%
LPLA	A	0.08%
MET	A	0.08%
IR	B	0.08%
FDS	B	0.08%
GE	D	0.08%
ALL	A	0.08%
TGT	F	0.08%
FITB	A	0.08%
FICO	B	0.08%
VLO	C	0.08%
ALLE	D	0.08%
FTNT	C	0.08%
WDAY	B	0.08%
BALL	D	0.08%
PSA	D	0.07%
BKR	B	0.07%
DELL	C	0.07%
HBAN	A	0.07%
WAB	B	0.07%
RF	A	0.07%
MELI	D	0.07%
PRU	A	0.07%
AMCR	D	0.07%
HES	B	0.07%
DLR	B	0.07%
AVY	D	0.07%
CCI	D	0.06%
CFG	B	0.06%
JBHT	C	0.06%
DDOG	A	0.06%
XYL	D	0.06%
VTR	C	0.06%
KEYS	A	0.06%
HOOD	B	0.06%
MPWR	F	0.06%
AOS	F	0.06%
OXY	D	0.06%
TEAM	A	0.06%
FANG	D	0.06%
BRK.A	B	0.06%
F	C	0.06%
ROL	B	0.06%
HPQ	B	0.06%
FBIN	D	0.06%
TW	A	0.06%
IQV	D	0.05%
KR	B	0.05%
WTW	B	0.05%
A	D	0.05%
PPL	B	0.05%
ANSS	B	0.05%
HUBS	A	0.05%
ULTA	F	0.05%
ATO	A	0.05%
LDOS	C	0.05%
CG	A	0.05%
CCK	C	0.05%
FTV	C	0.05%
TROW	B	0.05%
BURL	A	0.05%
TPL	A	0.05%
CDW	F	0.05%
WSM	B	0.05%
FCNCA	A	0.05%
BBY	D	0.05%
PINS	D	0.05%
HIG	B	0.05%
KEY	B	0.05%
DOV	A	0.05%
VICI	C	0.05%
ACGL	D	0.05%
STT	A	0.05%
PNR	A	0.04%
SNA	A	0.04%
PTC	A	0.04%
ARE	D	0.04%
WDC	D	0.04%
TRMB	B	0.04%
UPS	C	0.04%
ALNY	D	0.04%
BRO	B	0.04%
TYL	B	0.04%
CINF	A	0.04%
J	F	0.04%
MKL	A	0.04%
MKTX	D	0.04%
HAL	C	0.04%
FSLR	F	0.04%
MA	C	0.04%
CBOE	B	0.04%
DVN	F	0.04%
EQT	B	0.04%
PFG	D	0.04%
SYY	B	0.04%
IRM	D	0.04%
BA	F	0.04%
ZBRA	B	0.04%
EXR	D	0.04%
NTAP	C	0.04%
TDY	B	0.04%
V	A	0.04%
TRU	D	0.04%
SMCI	F	0.03%
SWK	D	0.03%
MANH	D	0.03%
MRO	B	0.03%
DT	C	0.03%
EG	C	0.03%
WAT	B	0.03%
PSTG	D	0.03%
ZS	C	0.03%
PAYC	B	0.03%
SWKS	F	0.03%
DAY	B	0.03%
ILMN	D	0.03%
NDSN	B	0.03%
GD	F	0.03%
CTRA	B	0.03%
SBAC	D	0.03%
WST	C	0.03%
WRB	A	0.03%
L	A	0.03%
BIIB	F	0.03%
DOC	D	0.03%
TDG	D	0.03%
WY	D	0.03%
GGG	B	0.03%
ENTG	D	0.03%
LIN	D	0.03%
SNAP	C	0.03%
JBL	B	0.03%
DAL	C	0.03%
ZM	B	0.03%
IEX	B	0.03%
AES	F	0.03%
SSNC	B	0.03%
BEN	C	0.03%
STX	D	0.03%
DKS	C	0.03%
MTD	D	0.03%
KMX	B	0.03%
KNX	B	0.03%
INCY	C	0.02%
IT	C	0.02%
BMRN	D	0.02%
NBIX	C	0.02%
LUV	C	0.02%
MRNA	F	0.02%
TTC	D	0.02%
DINO	D	0.02%
DG	F	0.02%
SEIC	B	0.02%
ERIE	D	0.02%
ENPH	F	0.02%
AXON	A	0.02%
AVTR	F	0.02%
AIZ	A	0.02%
ALLY	C	0.02%
HWM	A	0.02%
AFG	A	0.02%
RVTY	F	0.02%
UHAL	D	0.02%
IOT	A	0.02%
UTHR	C	0.02%
BBWI	D	0.02%
CNH	C	0.02%
LHX	C	0.02%
MTCH	D	0.02%
OVV	B	0.02%
FDX	B	0.02%
DOCU	A	0.02%
GLPI	C	0.02%
EBAY	D	0.02%
GEN	B	0.02%
CPT	B	0.01%
CTVA	C	0.01%
FIS	C	0.01%
APD	A	0.01%
SUI	D	0.01%
DOW	F	0.01%
ACI	C	0.01%
SHW	A	0.01%
STLD	B	0.01%
TXT	D	0.01%
MDB	C	0.01%
ESS	B	0.01%
RS	B	0.01%
VRSN	F	0.01%
MAA	B	0.01%
HEI	B	0.01%
INVH	D	0.01%
RPRX	D	0.01%
PYPL	B	0.01%
EPAM	C	0.01%
VTRS	A	0.01%
TWLO	A	0.01%
BIO	D	0.01%
NET	B	0.01%
APO	B	0.01%
CTLT	B	0.01%
DD	D	0.01%
UNH	C	0.01%
APA	D	0.01%
RIVN	F	0.01%
EQR	B	0.01%
DLTR	F	0.01%
EXAS	D	0.01%
NUE	C	0.01%
SNOW	C	0.01%
CRL	C	0.01%
AVB	B	0.01%
FI	A	0.01%
QRVO	F	0.01%
TECH	D	0.01%
CHRD	D	0.01%
GDDY	A	0.01%
BSY	D	0.01%
CTSH	B	0.01%
LYB	F	0.0%
HII	D	0.0%
ECL	D	0.0%
CHRW	C	0.0%
FNF	B	0.0%
HEI	B	0.0%
WBA	F	0.0%
EXPD	D	0.0%

INRO Underweight 21 Positions Relative to QTUM

Symbol	Grade	Weight
QBTS	B	-2.48%
COHR	B	-2.03%
RGTI	C	-2.03%
RDNT	B	-1.84%
WIT	A	-1.7%
BABA	D	-1.54%
NOK	D	-1.54%
TSM	B	-1.5%
JNPR	F	-1.39%
BIDU	F	-1.27%
TDC	D	-1.23%
NVEC	C	-1.18%
CRUS	D	-1.12%
LSCC	D	-1.11%
MKSI	C	-1.1%
ESTC	C	-1.07%
SYNA	C	-1.05%
ONTO	D	-1.0%
FORM	D	-0.96%
ASML	F	-0.85%
STM	F	-0.75%