IUSV vs. NZAC ETF Comparison

Comparison of iShares Core U.S. Vaue ETF (IUSV) to SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC)

IUSV

iShares Core U.S. Vaue ETF

IUSV Description

The investment seeks to track the investment results of a broad-based index composed of U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell 3000 Value Index (the "underlying index"), which measures the performance of the value sector of the broad U.S. equity market.

Grade (RS Rating)

Last Trade

$99.68

Average Daily Volume

510,918

Number of Holdings ^*

727

* may have additional holdings in another (foreign) market

NZAC

SPDR MSCI ACWI Climate Paris Aligned ETF

NZAC Description

The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index is designed to exceed the minimum standards for a "Paris-Aligned Benchmark" under the EU BMR. A Paris-Aligned Benchmark is designed to align with a principal objective of the Paris Agreement to limit the increase in the global average temperature to well below 2 degrees Celsius above pre-industrial levels.

Grade (RS Rating)

Last Trade

$37.44

Average Daily Volume

6,921

Number of Holdings ^*

370

* may have additional holdings in another (foreign) market

Performance

Period	IUSV	NZAC
30 Days	4.84%	0.92%
60 Days	5.13%	-0.19%
90 Days	6.82%	2.94%
12 Months	27.94%	26.36%

257 Overlapping Holdings

	Symbol	Grade	Weight in IUSV	Weight in NZAC	Overlap
	A	D	0.17%	0.06%	0.06%
	ABBV	D	0.83%	0.34%	0.34%
	ABBV	D	0.83%	0.6%	0.6%
	ABNB	C	0.13%	0.05%	0.05%
	ABT	B	0.88%	0.19%	0.19%
	ACM	A	0.04%	0.36%	0.04%
	ACN	B	0.45%	0.39%	0.39%
	ADI	D	0.19%	0.46%	0.19%
	ADP	B	0.33%	0.2%	0.2%
	ADSK	B	0.14%	0.09%	0.09%
	AFG	A	0.05%	0.07%	0.05%
	AFL	B	0.24%	0.28%	0.24%
	AIG	B	0.21%	0.14%	0.14%
	AIZ	B	0.05%	0.09%	0.05%
	AJG	A	0.14%	0.07%	0.07%
	ALB	C	0.06%	0.01%	0.01%
	ALGN	D	0.03%	0.03%	0.03%
	ALL	B	0.23%	0.14%	0.14%
	ALLE	D	0.03%	0.09%	0.03%
	ALLY	C	0.04%	0.02%	0.02%
	AME	A	0.1%	0.16%	0.1%
	AMGN	D	0.67%	0.21%	0.21%
	AMP	B	0.11%	0.16%	0.11%
	AMT	D	0.24%	0.11%	0.11%
	ANSS	B	0.06%	0.02%	0.02%
	AON	A	0.18%	0.11%	0.11%
	APH	B	0.17%	0.11%	0.11%
	AVB	B	0.14%	0.12%	0.12%
	AVTR	F	0.03%	0.03%	0.03%
	AXP	A	0.21%	0.36%	0.21%
	AZO	C	0.07%	0.1%	0.07%
	BAC	A	1.36%	0.44%	0.44%
	BAX	F	0.07%	0.02%	0.02%
	BDX	F	0.28%	0.11%	0.11%
	BIIB	F	0.1%	0.03%	0.03%
	BIO	D	0.03%	0.01%	0.01%
	BK	A	0.25%	0.13%	0.13%
	BLK	C	0.62%	0.27%	0.27%
	BMRN	F	0.02%	0.02%	0.02%
	BMY	B	0.51%	0.24%	0.24%
	BR	A	0.05%	0.08%	0.05%
	BRK.A	B	3.74%	0.39%	0.39%
	BRO	B	0.03%	0.05%	0.03%
	BSX	C	0.26%	0.31%	0.26%
	BURL	B	0.03%	0.03%	0.03%
	BX	B	0.17%	0.19%	0.17%
	BXP	D	0.05%	0.07%	0.05%
	C	A	0.57%	0.01%	0.01%
	CARR	C	0.14%	0.03%	0.03%
	CB	D	0.46%	0.24%	0.24%
	CBOE	B	0.03%	0.03%	0.03%
	CBRE	B	0.17%	0.18%	0.17%
	CCI	D	0.2%	0.07%	0.07%
	CDW	F	0.06%	0.13%	0.06%
	CEG	D	0.19%	0.04%	0.04%
	CG	B	0.03%	0.02%	0.02%
	CHD	B	0.06%	0.1%	0.06%
	CHTR	C	0.09%	0.07%	0.07%
	CINF	A	0.11%	0.07%	0.07%
	CLX	C	0.09%	0.01%	0.01%
	CMCSA	C	0.73%	0.25%	0.25%
	CME	A	0.23%	0.12%	0.12%
	COF	B	0.3%	0.14%	0.14%
	CSCO	A	1.0%	0.4%	0.4%
	CSGP	C	0.08%	0.02%	0.02%
	CSX	B	0.15%	0.09%	0.09%
	CTAS	B	0.15%	0.04%	0.04%
	CTLT	B	0.05%	0.02%	0.02%
	CTSH	B	0.17%	0.08%	0.08%
	DE	B	0.21%	0.14%	0.14%
	DFS	B	0.09%	0.09%	0.09%
	DGX	B	0.08%	0.02%	0.02%
	DHR	D	0.65%	0.19%	0.19%
	DIS	B	0.9%	0.29%	0.29%
	DLR	A	0.15%	0.39%	0.15%
	DLTR	D	0.06%	0.02%	0.02%
	DOC	C	0.07%	0.01%	0.01%
	DOCU	A	0.07%	0.01%	0.01%
	DXCM	C	0.05%	0.04%	0.04%
	EA	C	0.1%	0.01%	0.01%
	EBAY	C	0.13%	0.14%	0.13%
	ECL	D	0.13%	0.06%	0.06%
	EFX	D	0.08%	0.03%	0.03%
	EG	C	0.07%	0.03%	0.03%
	EIX	A	0.15%	0.81%	0.15%
	EL	F	0.07%	0.03%	0.03%
	ELV	F	0.4%	0.17%	0.17%
	ENPH	F	0.02%	0.05%	0.02%
	EPAM	C	0.04%	0.01%	0.01%
	EQH	B	0.01%	0.1%	0.01%
	EQIX	A	0.2%	0.33%	0.2%
	EQR	B	0.11%	0.07%	0.07%
	ERIE	D	0.02%	0.03%	0.02%
	ESS	B	0.08%	0.1%	0.08%
	ETN	A	0.24%	0.28%	0.24%
	EW	C	0.12%	0.11%	0.11%
	EXR	C	0.15%	0.04%	0.04%
	FAST	B	0.1%	0.17%	0.1%
	FDS	B	0.04%	0.01%	0.01%
	FFIV	A	0.06%	0.18%	0.06%
	FI	A	0.26%	0.18%	0.18%
	FIS	D	0.2%	0.07%	0.07%
	FOX	B	0.03%	0.03%	0.03%
	FOXA	C	0.05%	0.04%	0.04%
	FSLR	F	0.08%	0.16%	0.08%
	GILD	B	0.48%	0.06%	0.06%
	GIS	D	0.15%	0.08%	0.08%
	GLW	B	0.16%	0.19%	0.16%
	GPN	C	0.13%	0.05%	0.05%
	GRMN	A	0.06%	0.08%	0.06%
	GS	B	0.81%	0.06%	0.06%
	GWW	A	0.06%	0.21%	0.06%
	HBAN	B	0.11%	0.02%	0.02%
	HD	A	1.11%	0.58%	0.58%
	HIG	B	0.15%	0.12%	0.12%
	HOLX	D	0.08%	0.05%	0.05%
	HPE	B	0.12%	0.16%	0.12%
	HSIC	B	0.04%	0.05%	0.04%
	HSY	F	0.07%	0.05%	0.05%
	HUM	C	0.15%	0.06%	0.06%
	IBM	C	0.89%	0.6%	0.6%
	ICE	D	0.39%	0.13%	0.13%
	IDXX	F	0.07%	0.06%	0.06%
	IEX	B	0.07%	0.04%	0.04%
	ILMN	C	0.09%	0.04%	0.04%
	INCY	C	0.05%	0.01%	0.01%
	INTC	C	0.45%	0.18%	0.18%
	IPG	C	0.05%	0.01%	0.01%
	IQV	F	0.09%	0.1%	0.09%
	IRM	C	0.07%	0.06%	0.06%
	ISRG	C	0.29%	0.31%	0.29%
	ITW	A	0.17%	0.33%	0.17%
	JKHY	D	0.05%	0.01%	0.01%
	JNJ	D	1.62%	0.62%	0.62%
	JNPR	F	0.05%	0.13%	0.05%
	JPM	B	3.01%	1.09%	1.09%
	KDP	D	0.16%	0.08%	0.08%
	KEYS	B	0.13%	0.06%	0.06%
	KVUE	A	0.2%	0.01%	0.01%
	LEN	C	0.08%	0.06%	0.06%
	LH	B	0.09%	0.02%	0.02%
	LIN	D	0.45%	0.07%	0.07%
	LKQ	D	0.04%	0.03%	0.03%
	LOW	C	0.65%	0.25%	0.25%
	MA	B	0.51%	0.65%	0.51%
	MAS	C	0.03%	0.01%	0.01%
	MCD	D	0.5%	0.36%	0.36%
	MCO	A	0.17%	0.22%	0.17%
	MDT	D	0.47%	0.23%	0.23%
	MET	A	0.22%	0.21%	0.21%
	MKC	D	0.09%	0.01%	0.01%
	MKTX	D	0.04%	0.01%	0.01%
	MMC	A	0.23%	0.2%	0.2%
	MMM	D	0.3%	0.02%	0.02%
	MNST	B	0.07%	0.03%	0.03%
	MOH	F	0.03%	0.02%	0.02%
	MRK	F	0.66%	0.47%	0.47%
	MRNA	F	0.06%	0.01%	0.01%
	MS	B	0.73%	0.26%	0.26%
	MSI	C	0.15%	0.27%	0.15%
	MTB	B	0.16%	0.1%	0.1%
	MTCH	F	0.04%	0.01%	0.01%
	MTD	F	0.07%	0.06%	0.06%
	MU	D	0.49%	0.09%	0.09%
	NDAQ	A	0.14%	0.04%	0.04%
	NEM	F	0.21%	0.08%	0.08%
	NKE	F	0.22%	0.11%	0.11%
	NSC	A	0.26%	0.04%	0.04%
	NTAP	C	0.07%	0.06%	0.06%
	NTRS	A	0.1%	0.05%	0.05%
	NXPI	D	0.06%	0.01%	0.01%
	O	D	0.22%	0.07%	0.07%
	OMC	C	0.09%	0.03%	0.03%
	ORLY	B	0.08%	0.18%	0.08%
	PAYC	A	0.03%	0.01%	0.01%
	PAYX	B	0.12%	0.08%	0.08%
	PCAR	B	0.07%	0.06%	0.06%
	PFE	D	0.62%	0.19%	0.19%
	PGR	A	0.33%	0.22%	0.22%
	PH	A	0.09%	0.25%	0.09%
	PLD	D	0.46%	0.21%	0.21%
	PNC	A	0.35%	0.19%	0.19%
	PNR	B	0.02%	0.23%	0.02%
	PODD	B	0.05%	0.02%	0.02%
	POOL	C	0.03%	0.02%	0.02%
	PPG	D	0.12%	0.11%	0.11%
	PRU	A	0.19%	0.15%	0.15%
	PSA	C	0.13%	0.11%	0.11%
	PWR	A	0.07%	0.24%	0.07%
	PYPL	A	0.38%	0.13%	0.13%
	QCOM	F	0.36%	0.26%	0.26%
	REG	B	0.05%	0.08%	0.05%
	REGN	F	0.14%	0.1%	0.1%
	RF	B	0.11%	0.07%	0.07%
	RJF	A	0.13%	0.04%	0.04%
	RMD	C	0.16%	0.07%	0.07%
	ROK	B	0.07%	0.08%	0.07%
	ROL	B	0.03%	0.02%	0.02%
	ROP	B	0.15%	0.02%	0.02%
	RVTY	D	0.06%	0.07%	0.06%
	SBAC	D	0.06%	0.03%	0.03%
	SBUX	B	0.2%	0.15%	0.15%
	SCHW	A	0.52%	0.19%	0.19%
	SEIC	A	0.02%	0.02%	0.02%
	SHW	A	0.19%	0.56%	0.19%
	SNA	A	0.05%	0.02%	0.02%
	SPG	C	0.15%	0.15%	0.15%
	SPGI	C	0.4%	0.38%	0.38%
	STE	F	0.04%	0.03%	0.03%
	STLD	B	0.03%	0.01%	0.01%
	STT	A	0.12%	0.02%	0.02%
	STZ	D	0.16%	0.03%	0.03%
	SWKS	F	0.06%	0.01%	0.01%
	SYF	A	0.11%	0.09%	0.09%
	SYK	C	0.21%	0.25%	0.21%
	T	A	0.71%	0.18%	0.18%
	TDY	B	0.1%	0.1%	0.1%
	TECH	C	0.05%	0.01%	0.01%
	TER	F	0.07%	0.03%	0.03%
	TFX	F	0.04%	0.02%	0.02%
	TGT	F	0.24%	0.02%	0.02%
	TJX	A	0.2%	0.36%	0.2%
	TMO	F	0.53%	0.32%	0.32%
	TMUS	A	0.5%	0.13%	0.13%
	TRMB	B	0.08%	0.07%	0.07%
	TROW	A	0.11%	0.05%	0.05%
	TRV	B	0.26%	0.15%	0.15%
	TT	B	0.13%	0.02%	0.02%
	TXN	D	0.49%	0.27%	0.27%
	ULTA	F	0.02%	0.05%	0.02%
	UNH	B	1.48%	0.77%	0.77%
	UNP	C	0.35%	0.21%	0.21%
	UPS	C	0.42%	0.07%	0.07%
	USB	A	0.35%	0.12%	0.12%
	V	A	0.76%	0.75%	0.75%
	VICI	C	0.15%	0.03%	0.03%
	VLTO	C	0.11%	0.03%	0.03%
	VMC	B	0.06%	0.02%	0.02%
	VRSK	A	0.08%	0.05%	0.05%
	VRSN	F	0.03%	0.01%	0.01%
	VRTX	D	0.18%	0.14%	0.14%
	VTR	D	0.12%	0.06%	0.06%
	VZ	B	0.77%	0.21%	0.21%
	WAB	B	0.15%	0.08%	0.08%
	WAT	B	0.06%	0.02%	0.02%
	WELL	C	0.35%	0.15%	0.15%
	WFC	A	1.1%	0.25%	0.25%
	WM	A	0.19%	0.1%	0.1%
	WMT	B	1.66%	0.35%	0.35%
	WPC	D	0.05%	0.01%	0.01%
	WRB	A	0.08%	0.07%	0.07%
	WTW	B	0.14%	0.07%	0.07%
	XYL	D	0.13%	0.36%	0.13%
	YUM	B	0.09%	0.07%	0.07%
	ZBH	C	0.1%	0.05%	0.05%
	ZBRA	A	0.09%	0.02%	0.02%
	ZTS	D	0.16%	0.16%	0.16%

IUSV Overweight 471 Positions Relative to NZAC

	Symbol	Grade	Weight
	XOM	C	2.34%
	CVX	B	1.19%
	PG	A	1.07%
	COST	B	1.06%
	NEE	D	0.69%
	RTX	D	0.69%
	KO	D	0.65%
	HON	B	0.64%
	PEP	F	0.61%
	PM	B	0.56%
	LMT	D	0.5%
	GE	D	0.48%
	SO	D	0.42%
	MO	A	0.41%
	CI	D	0.4%
	DUK	C	0.38%
	MCK	C	0.35%
	CAT	B	0.34%
	APD	A	0.32%
	EMR	A	0.32%
	CVS	D	0.31%
	GD	F	0.31%
	NOC	D	0.3%
	FDX	B	0.29%
	SLB	C	0.27%
	GM	B	0.27%
	TFC	B	0.27%
	SRE	A	0.26%
	BA	D	0.25%
	PSX	C	0.24%
	KMI	B	0.24%
	JCI	C	0.24%
	AEP	D	0.23%
	GEV	C	0.23%
	MDLZ	F	0.22%
	CMI	A	0.22%
	D	C	0.21%
	VLO	C	0.2%
	PCG	B	0.2%
	PEG	A	0.2%
	KMB	C	0.2%
	LHX	C	0.2%
	CL	D	0.2%
	COR	C	0.19%
	WMB	B	0.19%
	BKR	C	0.19%
	CTVA	B	0.18%
	F	C	0.18%
	KR	A	0.17%
	EXC	D	0.17%
	XEL	A	0.17%
	COP	D	0.17%
	SYY	C	0.16%
	HPQ	B	0.16%
	GEHC	F	0.16%
	ED	D	0.15%
	DD	D	0.15%
	OXY	F	0.15%
	DOW	F	0.14%
	FCX	F	0.14%
	CNC	F	0.14%
	WEC	A	0.14%
	FITB	B	0.14%
	HCA	F	0.14%
	ETR	B	0.14%
	CAH	B	0.13%
	UAL	B	0.13%
	AWK	D	0.12%
	KHC	D	0.12%
	TEL	B	0.12%
	DOV	A	0.12%
	EQT	B	0.12%
	SW	B	0.12%
	HAL	C	0.12%
	OTIS	C	0.11%
	AEE	A	0.11%
	ADM	F	0.11%
	DTE	C	0.11%
	PPL	B	0.11%
	OKE	C	0.11%
	EOG	C	0.11%
	WY	D	0.1%
	LDOS	D	0.1%
	ES	D	0.1%
	WBD	C	0.1%
	IFF	D	0.1%
	ATO	A	0.1%
	MPC	F	0.1%
	DVN	F	0.1%
	MSCI	C	0.09%
	NRG	C	0.09%
	HWM	B	0.09%
	IP	B	0.09%
	CNP	A	0.09%
	CMS	C	0.09%
	EXE	B	0.09%
	CFG	B	0.09%
	LYB	F	0.09%
	WDC	C	0.09%
	FE	D	0.09%
	K	A	0.09%
	PKG	B	0.09%
	KEY	A	0.08%
	DAL	B	0.08%
	PFG	C	0.08%
	TSN	B	0.08%
	BALL	D	0.08%
	MAA	B	0.08%
	RSG	A	0.08%
	DELL	C	0.08%
	LUV	B	0.08%
	INVH	D	0.08%
	AMCR	D	0.07%
	RGA	A	0.07%
	FNF	B	0.07%
	TTWO	B	0.07%
	L	B	0.07%
	VTRS	B	0.07%
	TXT	D	0.07%
	AVY	D	0.07%
	GEN	A	0.07%
	DG	F	0.07%
	LNT	A	0.07%
	COHR	C	0.07%
	ARE	D	0.07%
	ON	C	0.07%
	USFD	A	0.07%
	J	F	0.07%
	TSCO	C	0.07%
	KIM	A	0.07%
	NI	A	0.07%
	BBY	D	0.07%
	GPC	D	0.07%
	CHRW	C	0.06%
	CPT	B	0.06%
	TPR	A	0.06%
	CAG	D	0.06%
	NUE	D	0.06%
	HUBB	B	0.06%
	UDR	B	0.06%
	SWK	D	0.06%
	PFGC	A	0.06%
	NDSN	B	0.06%
	THC	D	0.06%
	APTV	F	0.06%
	JBHT	C	0.06%
	MCHP	F	0.06%
	EVRG	A	0.06%
	CNH	A	0.05%
	WBS	B	0.05%
	PNW	B	0.05%
	TAP	C	0.05%
	UNM	A	0.05%
	EXPD	C	0.05%
	ARMK	A	0.05%
	GME	C	0.05%
	FHN	B	0.05%
	NWSA	B	0.05%
	COO	D	0.05%
	RRX	A	0.05%
	UHS	D	0.05%
	SF	B	0.05%
	AA	A	0.05%
	EMN	D	0.05%
	SJM	D	0.05%
	MLM	B	0.05%
	JLL	B	0.05%
	BJ	B	0.05%
	STX	D	0.05%
	JEF	A	0.05%
	BG	F	0.05%
	KMX	B	0.05%
	IVZ	B	0.04%
	SNV	B	0.04%
	RPM	A	0.04%
	HAS	D	0.04%
	SSB	B	0.04%
	MOS	F	0.04%
	IBKR	B	0.04%
	SFM	B	0.04%
	FRT	A	0.04%
	ZION	B	0.04%
	GPK	C	0.04%
	OGE	A	0.04%
	MTZ	B	0.04%
	CPB	D	0.04%
	SNX	C	0.04%
	WTFC	B	0.04%
	HRL	D	0.04%
	UTHR	C	0.04%
	ORI	A	0.04%
	X	C	0.04%
	KNX	B	0.04%
	DRI	B	0.04%
	WCC	B	0.04%
	DPZ	C	0.04%
	XPO	B	0.04%
	PTC	A	0.04%
	AES	F	0.04%
	AAL	B	0.04%
	FLR	B	0.04%
	TPL	B	0.04%
	IR	A	0.04%
	GMED	A	0.04%
	AR	B	0.04%
	SOLV	C	0.04%
	GL	C	0.04%
	NLY	B	0.04%
	CRL	C	0.04%
	LAD	B	0.04%
	NFG	B	0.03%
	THO	B	0.03%
	CIEN	B	0.03%
	HOMB	B	0.03%
	WBA	D	0.03%
	KRG	B	0.03%
	THG	C	0.03%
	LITE	B	0.03%
	INGR	B	0.03%
	AGCO	D	0.03%
	WHR	B	0.03%
	ESNT	D	0.03%
	SCI	A	0.03%
	RNR	C	0.03%
	OHI	D	0.03%
	FNB	B	0.03%
	ARW	D	0.03%
	STWD	C	0.03%
	QRVO	F	0.03%
	HR	B	0.03%
	DAR	C	0.03%
	GBCI	B	0.03%
	COLB	B	0.03%
	NOV	C	0.03%
	PARA	C	0.03%
	CACI	D	0.03%
	BEN	C	0.03%
	DINO	F	0.03%
	JBL	C	0.03%
	LVS	C	0.03%
	VNO	B	0.03%
	EWBC	B	0.03%
	ONB	B	0.03%
	CTRA	B	0.03%
	FAF	B	0.03%
	VMI	A	0.03%
	CMC	B	0.03%
	OSK	B	0.03%
	R	B	0.03%
	TMHC	A	0.03%
	MHK	D	0.03%
	FMC	D	0.03%
	CCL	B	0.03%
	AKAM	F	0.03%
	MRO	B	0.03%
	G	B	0.03%
	BWA	C	0.03%
	KD	B	0.03%
	CF	B	0.03%
	HII	F	0.03%
	FYBR	D	0.03%
	ADC	B	0.03%
	GLPI	B	0.03%
	PB	B	0.03%
	BERY	B	0.03%
	PII	F	0.02%
	FR	C	0.02%
	MAT	D	0.02%
	NVST	C	0.02%
	PRGO	C	0.02%
	NWS	B	0.02%
	ALE	A	0.02%
	RL	B	0.02%
	CNM	D	0.02%
	MIDD	B	0.02%
	GATX	A	0.02%
	LW	C	0.02%
	CGNX	C	0.02%
	ASH	F	0.02%
	ASGN	D	0.02%
	XRAY	F	0.02%
	DTM	B	0.02%
	HOG	F	0.02%
	DCI	A	0.02%
	MKSI	C	0.02%
	IDA	B	0.02%
	TCBI	B	0.02%
	MTG	B	0.02%
	CNO	A	0.02%
	KRC	C	0.02%
	SR	A	0.02%
	SAIC	F	0.02%
	ORA	B	0.02%
	M	D	0.02%
	FLS	A	0.02%
	ASB	B	0.02%
	KBR	F	0.02%
	GNRC	B	0.02%
	KEX	B	0.02%
	TXNM	A	0.02%
	SBRA	B	0.02%
	KMPR	B	0.02%
	SLGN	A	0.02%
	FLO	C	0.02%
	AN	B	0.02%
	TTC	D	0.02%
	OGS	A	0.02%
	BKH	B	0.02%
	JAZZ	B	0.02%
	ATR	B	0.02%
	HQY	B	0.02%
	AVNT	B	0.02%
	ST	F	0.02%
	RGLD	D	0.02%
	SWX	B	0.02%
	BRBR	B	0.02%
	ELS	C	0.02%
	LAMR	C	0.02%
	CUZ	B	0.02%
	AVT	C	0.02%
	AMH	C	0.02%
	IRT	B	0.02%
	VLY	B	0.02%
	AYI	B	0.02%
	CUBE	D	0.02%
	SON	D	0.02%
	WAL	B	0.02%
	CW	B	0.02%
	GAP	C	0.02%
	VOYA	B	0.02%
	CBSH	B	0.02%
	POR	C	0.02%
	BRX	A	0.02%
	BDC	B	0.02%
	HST	C	0.02%
	NJR	A	0.02%
	NNN	D	0.02%
	WTRG	B	0.02%
	NXST	C	0.02%
	CFR	B	0.02%
	TKO	B	0.02%
	POST	B	0.02%
	UGI	A	0.02%
	UBSI	B	0.02%
	EHC	B	0.02%
	PNFP	B	0.02%
	LEA	F	0.02%
	DKS	C	0.02%
	AMG	B	0.02%
	REXR	F	0.02%
	UMBF	B	0.02%
	PVH	C	0.02%
	JHG	A	0.02%
	FBIN	D	0.02%
	CLF	F	0.02%
	DAY	A	0.02%
	CCK	D	0.02%
	TNL	A	0.01%
	CPRI	F	0.01%
	IPGP	D	0.01%
	YETI	C	0.01%
	MMS	F	0.01%
	EPR	D	0.01%
	PSN	D	0.01%
	NSP	F	0.01%
	VC	D	0.01%
	BLKB	B	0.01%
	WEN	D	0.01%
	COLM	A	0.01%
	SAM	C	0.01%
	TEX	D	0.01%
	KNF	B	0.01%
	AMED	F	0.01%
	HAE	B	0.01%
	SYNA	C	0.01%
	UAA	C	0.01%
	NSA	C	0.01%
	LIVN	F	0.01%
	GEF	B	0.01%
	IRDM	C	0.01%
	VSH	F	0.01%
	POWI	D	0.01%
	MSM	C	0.01%
	OPCH	F	0.01%
	LFUS	D	0.01%
	CHH	A	0.01%
	CNXC	F	0.01%
	CADE	B	0.01%
	LANC	C	0.01%
	CRI	F	0.01%
	ROIV	B	0.01%
	CBT	C	0.01%
	VNOM	B	0.01%
	CHX	C	0.01%
	LSTR	B	0.01%
	DLB	B	0.01%
	SRPT	F	0.01%
	PPC	C	0.01%
	ZI	C	0.01%
	EEFT	B	0.01%
	ALGM	D	0.01%
	CDP	C	0.01%
	SMG	C	0.01%
	JWN	A	0.01%
	BC	C	0.01%
	ENS	D	0.01%
	IBOC	B	0.01%
	AM	B	0.01%
	ALTM	C	0.01%
	EXPO	D	0.01%
	MTN	C	0.01%
	CRUS	F	0.01%
	HWC	B	0.01%
	NOVT	D	0.01%
	GNTX	C	0.01%
	BRKR	F	0.01%
	RYN	C	0.01%
	HXL	D	0.01%
	LPX	B	0.01%
	ENOV	C	0.01%
	OZK	B	0.01%
	RLI	A	0.01%
	GXO	B	0.01%
	GT	C	0.01%
	SIGI	B	0.01%
	WU	D	0.01%
	WH	A	0.01%
	MUR	F	0.01%
	KBH	C	0.01%
	MGM	F	0.01%
	NEOG	C	0.01%
	MASI	A	0.01%
	CHWY	C	0.01%
	MTSI	B	0.01%
	ALV	C	0.01%
	MAN	D	0.01%
	RH	B	0.01%
	TKR	D	0.01%
	DOCS	C	0.01%
	CXT	B	0.01%
	AMKR	F	0.01%
	PCH	C	0.01%
	OLN	F	0.01%
	CYTK	F	0.01%
	VAC	B	0.01%
	CC	C	0.01%
	AMTM	D	0.01%
	PAG	B	0.01%
	CVLT	B	0.01%
	GHC	B	0.01%
	EGP	D	0.01%
	FFIN	B	0.01%
	PBF	D	0.01%
	EXLS	A	0.01%
	FLG	C	0.01%
	AZPN	A	0.01%
	SLM	B	0.01%
	BHF	B	0.01%
	STAG	D	0.01%
	EVR	B	0.01%
	AOS	D	0.01%
	CHE	D	0.01%
	CZR	D	0.01%
	FHI	A	0.01%
	DVA	B	0.01%
	NWE	A	0.01%
	MAGN	F	0.0%
	AZTA	D	0.0%
	WMG	C	0.0%
	UA	C	0.0%
	HGV	B	0.0%

IUSV Underweight 113 Positions Relative to NZAC

	Symbol	Grade	Weight
	NVDA	C	-4.67%
	AAPL	B	-4.47%
	MSFT	D	-4.03%
	AMZN	C	-2.38%
	META	D	-1.62%
	GOOG	C	-1.45%
	TSLA	B	-1.32%
	AVGO	D	-1.1%
	GOOGL	C	-1.03%
	LLY	F	-0.94%
	ORCL	C	-0.59%
	NFLX	B	-0.49%
	CRM	B	-0.42%
	NVS	F	-0.41%
	NOW	B	-0.39%
	ADBE	C	-0.35%
	INTU	C	-0.31%
	AMD	F	-0.27%
	BKNG	B	-0.24%
	BABA	D	-0.24%
	TD	F	-0.19%
	UBER	D	-0.17%
	SONY	B	-0.17%
	APO	A	-0.17%
	KLAC	F	-0.15%
	HDB	A	-0.14%
	PANW	C	-0.14%
	MELI	C	-0.14%
	TDG	D	-0.13%
	KKR	B	-0.13%
	AMAT	F	-0.12%
	SHOP	B	-0.12%
	ACGL	D	-0.12%
	MRVL	B	-0.12%
	LI	F	-0.11%
	INFY	B	-0.11%
	LRCX	F	-0.1%
	DEO	F	-0.1%
	FTNT	C	-0.09%
	ROST	C	-0.09%
	FTV	B	-0.09%
	SCCO	F	-0.08%
	PDD	F	-0.08%
	LULU	C	-0.08%
	MUFG	B	-0.08%
	RS	B	-0.08%
	PLTR	B	-0.07%
	HSBH	B	-0.07%
	CMG	B	-0.07%
	MKL	A	-0.07%
	WIT	A	-0.07%
	DHI	D	-0.06%
	TCOM	B	-0.06%
	ANET	C	-0.06%
	AXON	B	-0.06%
	CPAY	A	-0.05%
	LYV	A	-0.05%
	URI	B	-0.05%
	TTD	B	-0.05%
	COIN	B	-0.04%
	UHAL	D	-0.04%
	BCS	B	-0.04%
	PHM	C	-0.04%
	XPEV	C	-0.04%
	CPRT	A	-0.04%
	BAH	F	-0.03%
	WDAY	C	-0.03%
	NVR	D	-0.03%
	AZN	F	-0.03%
	XRX	F	-0.03%
	CCEP	B	-0.03%
	VEEV	B	-0.03%
	GDDY	B	-0.03%
	IT	C	-0.03%
	ALNY	D	-0.03%
	BIDU	F	-0.03%
	Z	B	-0.02%
	NIO	F	-0.02%
	TW	B	-0.02%
	RPRX	D	-0.02%
	CRWD	B	-0.02%
	WST	C	-0.02%
	MSTR	C	-0.02%
	ZM	B	-0.02%
	HEI	B	-0.02%
	DASH	A	-0.02%
	BCH	F	-0.02%
	ASAI	F	-0.02%
	VRT	B	-0.02%
	MAR	A	-0.02%
	SNOW	C	-0.02%
	ODFL	B	-0.02%
	HLT	A	-0.02%
	SQ	B	-0.02%
	MBAVU	D	-0.01%
	SMCI	D	-0.01%
	QGEN	D	-0.01%
	EXAS	F	-0.01%
	BBWI	C	-0.01%
	WYNN	D	-0.01%
	RIVN	D	-0.01%
	SUI	D	-0.01%
	SNAP	C	-0.01%
	SQ	B	-0.01%
	TRU	D	-0.01%
	NBIX	C	-0.01%
	PINS	F	-0.01%
	KB	B	-0.01%
	QFIN	B	-0.01%
	LYG	D	-0.01%
	TEVA	D	-0.01%
	NIO	F	-0.0%
	WIT	A	-0.0%

IUSV: Top Represented Industries & Keywords

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

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

NZAC: Top Represented Industries & Keywords

Industries: Software - Application Business Services Diagnostics & Research Asset Management Drug Manufacturers - Major Diversified Industrials Semiconductors Biotechnology Capital Markets Information Technology Services Internet Content & Information Credit Services Insurance - Property & Casualty Medical Devices Medical Instruments & Supplies Specialty Retail Banks - Global Insurance - Diversified Insurance Brokers Specialty Chemicals

Keywords: S&P 500 Nasdaq 100 Insurance Computing Dow Jones Component Bank Medicine Banking Telecommunications Insurance Products Mobile Devices Investment Bank Electronics Financial Products Real Estate Investment Trust Work From Home Biotechnology Cloud Computing Chemical Semiconductor