IWD vs. NZAC ETF Comparison

Comparison of iShares Russell 1000 Value ETF (IWD) to SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC)

IWD

iShares Russell 1000 Value ETF

IWD Description

The investment seeks to track the investment results of an index composed of large- and mid-capitalization 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 1000 Value Index (the "underlying index"), which measures the performance of large- and mid-capitalization value sectors of the U.S. equity market. It is a subset of the Russell 1000® Index, which measures the performance of the large-capitalization sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$189.20

Average Daily Volume

1,608,024

Number of Holdings ^*

863

* 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

$36.96

Average Daily Volume

14,040

Number of Holdings ^*

367

* may have additional holdings in another (foreign) market

Performance

Period	IWD	NZAC
30 Days	3.42%	2.67%
60 Days	5.20%	5.67%
90 Days	8.20%	6.43%
12 Months	22.86%	28.86%

272 Overlapping Holdings

	Symbol	Grade	Weight in IWD	Weight in NZAC	Overlap
	A	C	0.16%	0.06%	0.06%
	ABBV	C	0.79%	0.4%	0.4%
	ABBV	C	0.79%	0.6%	0.6%
	ABT	C	0.82%	0.2%	0.2%
	ACGL	C	0.16%	0.14%	0.14%
	ACM	B	0.05%	0.33%	0.05%
	ACN	C	0.89%	0.39%	0.39%
	ADI	C	0.45%	0.51%	0.45%
	ADP	B	0.03%	0.19%	0.03%
	AFG	B	0.04%	0.07%	0.04%
	AFL	C	0.25%	0.28%	0.25%
	AIG	D	0.2%	0.14%	0.14%
	AIZ	B	0.04%	0.08%	0.04%
	AJG	D	0.24%	0.07%	0.07%
	ALB	D	0.04%	0.01%	0.01%
	ALGN	D	0.03%	0.03%	0.03%
	ALL	B	0.17%	0.14%	0.14%
	ALLE	B	0.05%	0.09%	0.05%
	ALLY	F	0.03%	0.01%	0.01%
	ALNY	C	0.02%	0.04%	0.02%
	AMAT	D	0.05%	0.13%	0.05%
	AMD	D	0.34%	0.31%	0.31%
	AME	C	0.16%	0.14%	0.14%
	AMGN	B	0.16%	0.25%	0.16%
	AMP	A	0.02%	0.13%	0.02%
	ANSS	D	0.11%	0.02%	0.02%
	AON	B	0.28%	0.1%	0.1%
	APH	D	0.13%	0.1%	0.1%
	APO	C	0.06%	0.12%	0.06%
	AVB	B	0.13%	0.13%	0.13%
	AVTR	B	0.07%	0.04%	0.04%
	AXP	B	0.37%	0.33%	0.33%
	AZO	D	0.02%	0.1%	0.02%
	BAC	D	1.06%	0.36%	0.36%
	BAX	C	0.08%	0.03%	0.03%
	BBWI	F	0.02%	0.01%	0.01%
	BDX	D	0.27%	0.11%	0.11%
	BIIB	F	0.12%	0.04%	0.04%
	BIO	C	0.03%	0.01%	0.01%
	BK	B	0.21%	0.11%	0.11%
	BKNG	C	0.03%	0.19%	0.03%
	BLK	B	0.53%	0.24%	0.24%
	BMRN	F	0.06%	0.02%	0.02%
	BMY	C	0.4%	0.21%	0.21%
	BR	D	0.01%	0.08%	0.01%
	BRK.A	C	3.32%	0.38%	0.38%
	BRO	C	0.06%	0.05%	0.05%
	BSX	B	0.5%	0.3%	0.3%
	BXP	B	0.05%	0.07%	0.05%
	C	C	0.45%	0.01%	0.01%
	CARR	B	0.26%	0.03%	0.03%
	CB	B	0.47%	0.24%	0.24%
	CBOE	C	0.09%	0.03%	0.03%
	CBRE	A	0.15%	0.17%	0.15%
	CCI	C	0.21%	0.08%	0.08%
	CDW	D	0.06%	0.17%	0.06%
	CEG	C	0.21%	0.03%	0.03%
	CG	D	0.04%	0.01%	0.01%
	CHD	D	0.1%	0.1%	0.1%
	CHTR	D	0.13%	0.07%	0.07%
	CINF	B	0.08%	0.06%	0.06%
	CMCSA	D	0.62%	0.24%	0.24%
	CME	C	0.32%	0.12%	0.12%
	COF	B	0.21%	0.11%	0.11%
	COIN	F	0.02%	0.02%	0.02%
	CPRT	D	0.01%	0.04%	0.01%
	CRM	D	0.15%	0.33%	0.15%
	CSCO	C	0.82%	0.35%	0.35%
	CSGP	D	0.13%	0.03%	0.03%
	CSX	D	0.27%	0.09%	0.09%
	CTAS	B	0.01%	0.04%	0.01%
	CTLT	B	0.04%	0.02%	0.02%
	CTSH	C	0.16%	0.08%	0.08%
	DASH	C	0.02%	0.02%	0.02%
	DE	B	0.41%	0.14%	0.14%
	DFS	B	0.13%	0.07%	0.07%
	DGX	B	0.07%	0.02%	0.02%
	DHI	B	0.23%	0.07%	0.07%
	DHR	B	0.74%	0.23%	0.23%
	DIS	D	0.67%	0.23%	0.23%
	DLR	B	0.21%	0.35%	0.21%
	DLTR	F	0.06%	0.03%	0.03%
	DOC	C	0.07%	0.01%	0.01%
	EA	D	0.16%	0.01%	0.01%
	EBAY	B	0.13%	0.14%	0.13%
	ECL	B	0.03%	0.06%	0.03%
	EFX	B	0.12%	0.03%	0.03%
	EG	C	0.06%	0.03%	0.03%
	EIX	C	0.13%	0.84%	0.13%
	EL	F	0.05%	0.04%	0.04%
	ELV	C	0.44%	0.24%	0.24%
	EPAM	F	0.04%	0.01%	0.01%
	EQIX	C	0.32%	0.32%	0.32%
	EQR	B	0.12%	0.08%	0.08%
	ESS	B	0.08%	0.1%	0.08%
	ETN	C	0.49%	0.24%	0.24%
	EW	F	0.13%	0.11%	0.11%
	EXAS	C	0.03%	0.01%	0.01%
	EXR	B	0.15%	0.05%	0.05%
	FAST	C	0.03%	0.15%	0.03%
	FDS	C	0.04%	0.01%	0.01%
	FFIV	B	0.05%	0.16%	0.05%
	FIS	B	0.19%	0.06%	0.06%
	FOX	B	0.02%	0.03%	0.02%
	FOXA	B	0.04%	0.03%	0.03%
	FSLR	C	0.1%	0.2%	0.1%
	FTNT	C	0.04%	0.07%	0.04%
	FTV	C	0.1%	0.09%	0.09%
	GILD	B	0.42%	0.06%	0.06%
	GIS	B	0.17%	0.1%	0.1%
	GLW	C	0.13%	0.18%	0.13%
	GPN	D	0.11%	0.04%	0.04%
	GRMN	D	0.11%	0.07%	0.07%
	GS	C	0.45%	0.05%	0.05%
	GWW	B	0.02%	0.18%	0.02%
	HBAN	B	0.08%	0.02%	0.02%
	HD	B	0.31%	0.55%	0.31%
	HIG	B	0.14%	0.12%	0.12%
	HLT	B	0.11%	0.02%	0.02%
	HOLX	B	0.08%	0.05%	0.05%
	HPE	D	0.09%	0.13%	0.09%
	HSIC	C	0.04%	0.05%	0.04%
	HSY	C	0.1%	0.06%	0.06%
	HUM	F	0.16%	0.08%	0.08%
	IBM	B	0.8%	0.63%	0.63%
	ICE	C	0.37%	0.13%	0.13%
	IEX	D	0.06%	0.04%	0.04%
	ILMN	C	0.08%	0.03%	0.03%
	INCY	C	0.04%	0.01%	0.01%
	INTC	F	0.34%	0.15%	0.15%
	IPG	C	0.05%	0.02%	0.02%
	IQV	C	0.15%	0.13%	0.13%
	IRM	C	0.06%	0.06%	0.06%
	ITW	C	0.19%	0.31%	0.19%
	JKHY	B	0.05%	0.01%	0.01%
	JNJ	C	1.62%	0.67%	0.67%
	JNPR	B	0.05%	0.14%	0.05%
	JPM	D	2.37%	0.92%	0.92%
	KDP	B	0.16%	0.09%	0.09%
	KEYS	C	0.11%	0.07%	0.07%
	KKR	B	0.24%	0.11%	0.11%
	KVUE	C	0.18%	0.01%	0.01%
	LEN	B	0.01%	0.07%	0.01%
	LEN	B	0.18%	0.07%	0.07%
	LIN	B	0.91%	0.08%	0.08%
	LKQ	F	0.04%	0.03%	0.03%
	LOW	B	0.59%	0.24%	0.24%
	MAR	C	0.22%	0.02%	0.02%
	MAS	B	0.07%	0.01%	0.01%
	MCD	B	0.81%	0.37%	0.37%
	MDT	C	0.48%	0.24%	0.24%
	MET	B	0.18%	0.2%	0.18%
	MKC	C	0.09%	0.01%	0.01%
	MKL	C	0.06%	0.07%	0.06%
	MKTX	C	0.04%	0.01%	0.01%
	MMC	C	0.4%	0.21%	0.21%
	MMM	B	0.24%	0.03%	0.03%
	MNST	D	0.03%	0.03%	0.03%
	MOH	D	0.03%	0.02%	0.02%
	MRNA	F	0.09%	0.02%	0.02%
	MRVL	C	0.24%	0.11%	0.11%
	MS	D	0.43%	0.19%	0.19%
	MSI	B	0.15%	0.24%	0.15%
	MSTR	D	0.08%	0.01%	0.01%
	MTB	B	0.11%	0.08%	0.08%
	MTCH	C	0.04%	0.01%	0.01%
	MTD	D	0.12%	0.07%	0.07%
	MU	F	0.41%	0.08%	0.08%
	NDAQ	A	0.12%	0.04%	0.04%
	NEM	B	0.25%	0.11%	0.11%
	NKE	D	0.15%	0.12%	0.12%
	NSC	C	0.22%	0.04%	0.04%
	NTAP	D	0.05%	0.06%	0.05%
	NTRS	A	0.07%	0.04%	0.04%
	NVR	B	0.11%	0.03%	0.03%
	O	C	0.22%	0.07%	0.07%
	OMC	B	0.08%	0.03%	0.03%
	ORLY	C	0.02%	0.17%	0.02%
	PAYC	D	0.01%	0.01%	0.01%
	PAYX	C	0.11%	0.08%	0.08%
	PCAR	D	0.2%	0.05%	0.05%
	PFE	C	0.67%	0.23%	0.23%
	PGR	B	0.1%	0.22%	0.1%
	PH	B	0.31%	0.22%	0.22%
	PHM	B	0.12%	0.04%	0.04%
	PLD	C	0.49%	0.25%	0.25%
	PNC	B	0.29%	0.16%	0.16%
	PNR	B	0.06%	0.2%	0.06%
	PPG	D	0.12%	0.11%	0.11%
	PRU	C	0.17%	0.14%	0.14%
	PSA	B	0.19%	0.12%	0.12%
	PWR	B	0.11%	0.2%	0.11%
	PYPL	B	0.3%	0.11%	0.11%
	QCOM	D	0.05%	0.28%	0.05%
	REG	C	0.06%	0.08%	0.06%
	REGN	C	0.45%	0.15%	0.15%
	RF	B	0.08%	0.06%	0.06%
	RIVN	F	0.04%	0.01%	0.01%
	RJF	C	0.09%	0.03%	0.03%
	RMD	C	0.11%	0.08%	0.08%
	ROK	D	0.11%	0.08%	0.08%
	ROP	C	0.24%	0.02%	0.02%
	ROST	C	0.16%	0.1%	0.1%
	RPRX	C	0.04%	0.02%	0.02%
	RS	D	0.06%	0.08%	0.06%
	SBAC	C	0.11%	0.03%	0.03%
	SBUX	C	0.1%	0.15%	0.1%
	SCHW	D	0.34%	0.15%	0.15%
	SEIC	C	0.03%	0.02%	0.02%
	SHW	B	0.03%	0.56%	0.03%
	SNA	C	0.06%	0.01%	0.01%
	SPG	B	0.16%	0.14%	0.14%
	SPGI	B	0.66%	0.4%	0.4%
	SQ	D	0.08%	0.02%	0.02%
	SQ	D	0.08%	0.01%	0.01%
	STE	C	0.1%	0.03%	0.03%
	STLD	F	0.07%	0.01%	0.01%
	STT	A	0.1%	0.02%	0.02%
	STZ	D	0.16%	0.04%	0.04%
	SUI	B	0.07%	0.01%	0.01%
	SWKS	D	0.07%	0.01%	0.01%
	SYF	C	0.08%	0.06%	0.06%
	SYK	C	0.38%	0.24%	0.24%
	T	C	0.63%	0.18%	0.18%
	TDG	B	0.24%	0.14%	0.14%
	TDY	B	0.08%	0.1%	0.08%
	TECH	C	0.05%	0.01%	0.01%
	TER	D	0.01%	0.04%	0.01%
	TFX	C	0.05%	0.02%	0.02%
	TGT	C	0.28%	0.03%	0.03%
	TJX	B	0.22%	0.37%	0.22%
	TMO	B	0.95%	0.38%	0.38%
	TMUS	C	0.4%	0.11%	0.11%
	TRMB	C	0.06%	0.06%	0.06%
	TROW	D	0.09%	0.04%	0.04%
	TRU	B	0.07%	0.01%	0.01%
	TRV	C	0.22%	0.14%	0.14%
	TT	B	0.22%	0.02%	0.02%
	TW	B	0.03%	0.02%	0.02%
	TXN	C	0.65%	0.27%	0.27%
	UHAL	A	0.02%	0.04%	0.02%
	UHAL	A	0.0%	0.04%	0.0%
	ULTA	D	0.01%	0.05%	0.01%
	UNH	C	2.06%	0.78%	0.78%
	UNP	C	0.32%	0.23%	0.23%
	UPS	D	0.38%	0.07%	0.07%
	URI	B	0.15%	0.04%	0.04%
	USB	B	0.28%	0.11%	0.11%
	VICI	C	0.14%	0.03%	0.03%
	VLTO	C	0.06%	0.03%	0.03%
	VMC	D	0.09%	0.01%	0.01%
	VRSN	D	0.06%	0.01%	0.01%
	VRTX	D	0.25%	0.15%	0.15%
	VTR	C	0.11%	0.06%	0.06%
	VZ	B	0.76%	0.22%	0.22%
	WAB	B	0.12%	0.07%	0.07%
	WAT	C	0.03%	0.02%	0.02%
	WELL	C	0.31%	0.14%	0.14%
	WFC	D	0.75%	0.18%	0.18%
	WMT	C	1.42%	0.34%	0.34%
	WPC	C	0.06%	0.02%	0.02%
	WRB	C	0.07%	0.07%	0.07%
	WST	D	0.03%	0.02%	0.02%
	WTW	C	0.12%	0.07%	0.07%
	WYNN	D	0.03%	0.01%	0.01%
	XYL	C	0.13%	0.39%	0.13%
	YUM	D	0.09%	0.08%	0.08%
	Z	B	0.04%	0.01%	0.01%
	ZBH	F	0.09%	0.04%	0.04%
	ZBRA	B	0.05%	0.02%	0.02%
	ZM	C	0.07%	0.02%	0.02%
	ZTS	C	0.06%	0.18%	0.06%

IWD Overweight 593 Positions Relative to NZAC

	Symbol	Grade	Weight
	XOM	C	2.02%
	PG	C	1.29%
	CVX	D	0.98%
	PM	C	0.79%
	NEE	C	0.7%
	RTX	C	0.64%
	GE	B	0.62%
	CAT	B	0.59%
	COP	D	0.49%
	KO	C	0.48%
	HON	D	0.46%
	MDLZ	B	0.41%
	SO	B	0.4%
	DUK	C	0.37%
	MO	C	0.37%
	CI	C	0.37%
	GD	B	0.34%
	LMT	C	0.33%
	BA	F	0.31%
	CVS	D	0.3%
	NOC	B	0.29%
	EOG	D	0.28%
	FI	A	0.28%
	APD	B	0.26%
	FDX	C	0.26%
	FCX	D	0.25%
	GEV	B	0.25%
	EMR	D	0.24%
	CRH	B	0.24%
	TFC	C	0.23%
	SLB	F	0.23%
	MPC	F	0.23%
	HCA	B	0.23%
	OKE	B	0.22%
	PSX	F	0.22%
	WMB	B	0.22%
	AEP	C	0.22%
	PEP	C	0.21%
	GM	C	0.21%
	SRE	C	0.21%
	D	C	0.2%
	JCI	B	0.2%
	LHX	C	0.18%
	VLO	F	0.18%
	KMI	B	0.17%
	MCHP	F	0.17%
	CMI	C	0.17%
	PEG	B	0.17%
	F	F	0.17%
	RSG	D	0.17%
	PCG	C	0.17%
	CL	D	0.16%
	MCK	F	0.16%
	CTVA	B	0.16%
	CNC	D	0.16%
	EXC	C	0.16%
	ED	C	0.15%
	HWM	B	0.15%
	FERG	D	0.15%
	IR	C	0.15%
	KR	C	0.15%
	OTIS	C	0.15%
	GEHC	C	0.14%
	DD	B	0.14%
	OXY	F	0.14%
	NUE	F	0.14%
	DOW	D	0.14%
	XEL	B	0.14%
	KHC	C	0.13%
	BKR	C	0.13%
	KMB	D	0.12%
	FITB	B	0.12%
	AWK	B	0.12%
	DAL	C	0.12%
	ADM	D	0.12%
	MLM	D	0.12%
	WEC	C	0.12%
	FANG	D	0.12%
	ON	D	0.12%
	RCL	B	0.11%
	DTE	C	0.11%
	IFF	B	0.11%
	ETR	B	0.11%
	WY	C	0.1%
	DELL	D	0.1%
	ES	C	0.1%
	PPL	C	0.1%
	LYB	D	0.1%
	HAL	F	0.1%
	HPQ	D	0.1%
	DVN	F	0.1%
	DOV	B	0.1%
	TTWO	C	0.1%
	FE	C	0.1%
	K	B	0.09%
	WDC	D	0.09%
	BBY	C	0.09%
	ARE	C	0.09%
	COO	B	0.09%
	HUBB	B	0.09%
	FCNCA	D	0.09%
	AEE	C	0.09%
	INVH	C	0.09%
	LH	C	0.08%
	DG	F	0.08%
	PKG	B	0.08%
	APTV	D	0.08%
	PFG	B	0.08%
	GPC	D	0.08%
	MAA	B	0.08%
	BLDR	C	0.08%
	LNG	C	0.08%
	BALL	C	0.08%
	ATO	B	0.08%
	WBD	D	0.08%
	CMS	C	0.08%
	LDOS	B	0.08%
	SSNC	B	0.07%
	UAL	C	0.07%
	WSO	C	0.07%
	TXT	D	0.07%
	IP	B	0.07%
	CTRA	D	0.07%
	CSL	B	0.07%
	CCL	C	0.07%
	LUV	C	0.07%
	TSN	C	0.07%
	CNP	C	0.07%
	J	C	0.07%
	MSCI	C	0.07%
	EQT	D	0.07%
	CFG	C	0.07%
	USFD	B	0.06%
	BG	D	0.06%
	VTRS	D	0.06%
	AMH	C	0.06%
	GGG	C	0.06%
	JBHT	D	0.06%
	ELS	C	0.06%
	RGA	C	0.06%
	EXPD	C	0.06%
	OC	D	0.06%
	NDSN	C	0.06%
	L	C	0.06%
	SYY	D	0.06%
	HOOD	C	0.06%
	UTHR	C	0.06%
	GEN	B	0.06%
	CF	C	0.06%
	AKAM	D	0.06%
	KEY	B	0.06%
	RVTY	B	0.06%
	MRO	C	0.06%
	CAG	C	0.06%
	LNT	B	0.06%
	NI	B	0.06%
	UDR	C	0.06%
	TOL	B	0.06%
	SWK	B	0.06%
	THC	A	0.06%
	FNF	B	0.06%
	AMCR	B	0.06%
	KIM	C	0.06%
	EME	B	0.05%
	CAH	C	0.05%
	BLD	D	0.05%
	DKS	D	0.05%
	SCI	B	0.05%
	JBL	D	0.05%
	KMX	D	0.05%
	SW	B	0.05%
	CHRW	B	0.05%
	CASY	D	0.05%
	CW	B	0.05%
	RPM	B	0.05%
	EMN	B	0.05%
	CUBE	B	0.05%
	HST	C	0.05%
	SJM	C	0.05%
	CLH	A	0.05%
	HES	F	0.05%
	CPT	B	0.05%
	AES	C	0.05%
	IBKR	B	0.05%
	GLPI	C	0.05%
	UHS	B	0.05%
	RNR	C	0.05%
	EVRG	B	0.05%
	FHN	D	0.04%
	NYT	C	0.04%
	APA	F	0.04%
	TTC	D	0.04%
	WAL	B	0.04%
	PRI	B	0.04%
	ORI	B	0.04%
	NNN	C	0.04%
	INGR	B	0.04%
	FYBR	C	0.04%
	MGM	F	0.04%
	EGP	B	0.04%
	DRI	B	0.04%
	CNH	D	0.04%
	GPK	B	0.04%
	DPZ	F	0.04%
	EHC	C	0.04%
	HRL	C	0.04%
	RGLD	C	0.04%
	CHK	D	0.04%
	AOS	D	0.04%
	TAP	D	0.04%
	PFGC	B	0.04%
	UNM	B	0.04%
	FRT	C	0.04%
	TTEK	C	0.04%
	SOLV	C	0.04%
	CVNA	B	0.04%
	GL	C	0.04%
	CPB	C	0.04%
	WWD	D	0.04%
	NWSA	D	0.04%
	WTRG	D	0.04%
	DOX	C	0.04%
	TPR	C	0.04%
	FWONK	C	0.04%
	ARMK	B	0.04%
	OHI	B	0.04%
	ATR	B	0.04%
	AFRM	C	0.04%
	CRL	F	0.04%
	CE	F	0.04%
	NLY	B	0.04%
	HII	D	0.04%
	NRG	C	0.04%
	NTNX	C	0.04%
	RRX	C	0.04%
	PNW	C	0.04%
	FTI	D	0.04%
	OVV	F	0.04%
	COHR	C	0.04%
	FBIN	B	0.04%
	QRVO	F	0.04%
	CACI	B	0.04%
	CCK	A	0.04%
	BJ	D	0.04%
	NVT	D	0.04%
	REXR	C	0.04%
	AVY	C	0.04%
	EWBC	D	0.04%
	ITT	B	0.04%
	NOV	F	0.03%
	PARA	F	0.03%
	LW	D	0.03%
	CROX	D	0.03%
	CGNX	F	0.03%
	OKTA	F	0.03%
	STWD	B	0.03%
	BPOP	C	0.03%
	CART	A	0.03%
	VNO	B	0.03%
	RHI	D	0.03%
	LSTR	D	0.03%
	AAL	D	0.03%
	MAT	C	0.03%
	MSA	D	0.03%
	VFC	C	0.03%
	CFR	C	0.03%
	OSK	F	0.03%
	PB	B	0.03%
	SNV	C	0.03%
	FAF	B	0.03%
	WBA	F	0.03%
	PR	F	0.03%
	RGEN	F	0.03%
	ARW	C	0.03%
	JAZZ	D	0.03%
	ZION	D	0.03%
	GNTX	F	0.03%
	MTG	B	0.03%
	SOFI	C	0.03%
	WTFC	B	0.03%
	SWN	D	0.03%
	RL	C	0.03%
	RRC	D	0.03%
	BFAM	C	0.03%
	G	C	0.03%
	FICO	B	0.03%
	SSD	D	0.03%
	WCC	D	0.03%
	SAIC	C	0.03%
	KEX	C	0.03%
	MTZ	B	0.03%
	MIDD	D	0.03%
	LECO	F	0.03%
	ACHC	C	0.03%
	MKSI	F	0.03%
	HR	C	0.03%
	BWXT	D	0.03%
	CRUS	D	0.03%
	HRB	C	0.03%
	ELAN	D	0.03%
	STAG	C	0.03%
	AGNC	B	0.03%
	ONTO	D	0.03%
	PNFP	B	0.03%
	HLI	B	0.03%
	DINO	F	0.03%
	BWA	D	0.03%
	FR	B	0.03%
	DTM	B	0.03%
	CR	C	0.03%
	CBSH	C	0.03%
	WSM	D	0.03%
	WEX	C	0.03%
	LAD	D	0.03%
	FND	C	0.03%
	ADC	C	0.03%
	BRBR	C	0.03%
	ATI	C	0.03%
	KBR	D	0.03%
	COKE	C	0.03%
	GWRE	A	0.03%
	CMA	B	0.03%
	CHE	C	0.03%
	AXTA	B	0.03%
	BERY	B	0.03%
	JEF	B	0.03%
	VOYA	B	0.03%
	WBS	D	0.03%
	ALSN	B	0.03%
	AR	F	0.03%
	FCN	D	0.03%
	GMED	D	0.03%
	DAY	D	0.03%
	APG	D	0.03%
	TKO	B	0.03%
	ACI	F	0.03%
	FMC	C	0.03%
	ROKU	C	0.03%
	AYI	B	0.03%
	PTC	D	0.03%
	X	F	0.03%
	CIEN	C	0.03%
	AA	D	0.03%
	RBC	C	0.03%
	OGE	C	0.03%
	SKX	D	0.03%
	COLD	D	0.03%
	KNX	C	0.03%
	CHRD	F	0.03%
	CZR	C	0.03%
	MHK	C	0.03%
	TWLO	D	0.03%
	JLL	B	0.03%
	BRX	B	0.03%
	MOS	F	0.03%
	LAMR	B	0.03%
	DCI	C	0.03%
	EVR	A	0.03%
	SNX	D	0.03%
	SF	A	0.03%
	LITE	B	0.02%
	COTY	F	0.02%
	CLF	F	0.02%
	PRGO	D	0.02%
	MPW	C	0.02%
	NEU	D	0.02%
	CIVI	F	0.02%
	DXC	C	0.02%
	RH	B	0.02%
	IAC	C	0.02%
	SITE	C	0.02%
	BILL	D	0.02%
	GFS	F	0.02%
	M	F	0.02%
	ROIV	C	0.02%
	DLB	D	0.02%
	BYD	C	0.02%
	GNRC	D	0.02%
	DBX	D	0.02%
	GAP	F	0.02%
	KRC	B	0.02%
	AN	D	0.02%
	ASH	D	0.02%
	CPRI	D	0.02%
	FLO	C	0.02%
	DOCS	B	0.02%
	EEFT	D	0.02%
	AGO	C	0.02%
	S	C	0.02%
	W	D	0.02%
	WTM	D	0.02%
	OZK	D	0.02%
	PII	D	0.02%
	SLGN	B	0.02%
	FRPT	B	0.02%
	CUZ	B	0.02%
	PSN	B	0.02%
	AVT	C	0.02%
	AL	D	0.02%
	HOG	C	0.02%
	SLM	D	0.02%
	WLK	D	0.02%
	RYN	C	0.02%
	SAIA	D	0.02%
	JHG	B	0.02%
	OLED	C	0.02%
	CCCS	D	0.02%
	LNC	D	0.02%
	HXL	F	0.02%
	UGI	C	0.02%
	FNB	C	0.02%
	LBRDK	F	0.02%
	WSC	D	0.02%
	VNT	F	0.02%
	OLN	D	0.02%
	ST	D	0.02%
	COLB	B	0.02%
	THO	D	0.02%
	KD	D	0.02%
	WHR	D	0.02%
	ALK	C	0.02%
	IDA	C	0.02%
	OGN	D	0.02%
	OMF	D	0.02%
	THG	B	0.02%
	TKR	D	0.02%
	MTDR	F	0.02%
	PVH	F	0.02%
	BC	C	0.02%
	XRAY	D	0.02%
	H	C	0.02%
	VMI	D	0.02%
	SN	B	0.02%
	NFG	B	0.02%
	SON	C	0.02%
	AMG	C	0.02%
	GME	F	0.02%
	MDU	C	0.02%
	DAR	F	0.02%
	ESAB	C	0.02%
	WH	B	0.02%
	MTSI	D	0.02%
	AGCO	D	0.02%
	SRCL	A	0.02%
	POST	C	0.02%
	ESI	D	0.02%
	BEN	F	0.02%
	RITM	B	0.02%
	IVZ	B	0.02%
	LEA	F	0.02%
	R	A	0.02%
	GXO	D	0.02%
	OLLI	C	0.02%
	RLI	B	0.02%
	AZPN	B	0.02%
	WMS	D	0.02%
	LFUS	C	0.02%
	FLS	D	0.02%
	AXS	B	0.02%
	SIRI	C	0.02%
	EXEL	C	0.01%
	LYFT	D	0.01%
	SNDR	B	0.01%
	CERT	F	0.01%
	TRIP	F	0.01%
	PPC	D	0.01%
	WEN	C	0.01%
	UAA	C	0.01%
	UA	D	0.01%
	INFA	D	0.01%
	ALGM	F	0.01%
	GO	F	0.01%
	FTRE	D	0.01%
	AS	C	0.01%
	MP	D	0.01%
	PSTG	F	0.01%
	BIRK	F	0.01%
	LEG	D	0.01%
	AZEK	C	0.01%
	BROS	D	0.01%
	LPX	B	0.01%
	IPGP	F	0.01%
	HAYW	C	0.01%
	SAM	F	0.01%
	REYN	C	0.01%
	VSTS	D	0.01%
	ADT	C	0.01%
	LLYVK	B	0.01%
	GLOB	D	0.01%
	KSS	F	0.01%
	QS	F	0.01%
	JWN	C	0.01%
	EXP	B	0.01%
	ETSY	F	0.01%
	MASI	F	0.01%
	CNM	F	0.01%
	YETI	D	0.01%
	BOKF	B	0.01%
	HHH	C	0.01%
	CWEN	C	0.01%
	RCM	C	0.01%
	AAP	F	0.01%
	CC	F	0.01%
	WU	F	0.01%
	ENOV	D	0.01%
	BRKR	D	0.01%
	SHC	C	0.01%
	AGR	B	0.01%
	CRI	D	0.01%
	VAC	F	0.01%
	SEE	D	0.01%
	BHF	F	0.01%
	PINC	C	0.01%
	AZTA	F	0.01%
	QDEL	D	0.01%
	CLVT	D	0.01%
	ZG	B	0.01%
	SPB	C	0.01%
	COLM	C	0.01%
	VNOM	C	0.01%
	PAG	D	0.01%
	RKT	C	0.01%
	LOPE	D	0.01%
	CXT	D	0.01%
	TNL	D	0.01%
	PK	D	0.01%
	VIRT	C	0.01%
	IRDM	D	0.01%
	SMG	C	0.01%
	FHB	D	0.01%
	AM	C	0.01%
	AMED	C	0.01%
	NWS	D	0.01%
	NXST	D	0.01%
	PENN	D	0.01%
	CNXC	F	0.01%
	PLNT	B	0.01%
	U	D	0.01%
	NWL	C	0.01%
	ZI	D	0.01%
	LBTYA	B	0.01%
	SPR	D	0.01%
	NSA	B	0.01%
	MAN	C	0.01%
	HIW	B	0.01%
	NVST	D	0.01%
	AMKR	F	0.01%
	LCID	C	0.01%
	GTES	C	0.01%
	MSGS	B	0.01%
	LBTYK	B	0.01%
	DNB	C	0.01%
	TPG	B	0.01%
	HUN	D	0.01%
	KMPR	D	0.01%
	EPR	B	0.01%
	MSM	D	0.01%
	AWI	B	0.01%
	TYL	C	0.01%
	SEG	C	0.0%
	LOAR	C	0.0%
	PARAA	D	0.0%
	UWMC	D	0.0%
	LAZ	B	0.0%
	NFE	F	0.0%
	GRAL	F	0.0%
	DJT	F	0.0%
	IONS	F	0.0%
	UI	B	0.0%
	PLTK	C	0.0%
	CHH	C	0.0%
	CACC	F	0.0%
	PATH	D	0.0%
	HCP	B	0.0%
	TFSL	C	0.0%
	TXG	D	0.0%
	CAR	F	0.0%
	LSCC	D	0.0%
	SEB	D	0.0%
	LBRDA	F	0.0%
	LLYVA	B	0.0%
	PYCR	D	0.0%
	ALAB	D	0.0%
	NCNO	D	0.0%
	CWEN	C	0.0%
	FWONA	C	0.0%
	FIVE	D	0.0%
	DDS	F	0.0%
	WOLF	F	0.0%
	MTN	D	0.0%
	DV	F	0.0%
	CNA	C	0.0%
	HAS	B	0.0%

IWD Underweight 97 Positions Relative to NZAC

	Symbol	Grade	Weight
	AAPL	C	-4.47%
	MSFT	C	-4.24%
	NVDA	D	-3.97%
	AMZN	C	-2.21%
	META	B	-1.55%
	GOOG	D	-1.33%
	LLY	C	-1.18%
	AVGO	C	-1.13%
	TSLA	C	-0.96%
	GOOGL	D	-0.95%
	V	C	-0.7%
	MA	B	-0.62%
	MRK	D	-0.57%
	ORCL	C	-0.53%
	NVS	C	-0.46%
	NFLX	B	-0.42%
	ADBE	F	-0.38%
	NOW	B	-0.34%
	INTU	C	-0.3%
	ISRG	B	-0.29%
	MCO	B	-0.23%
	BABA	B	-0.23%
	TD	B	-0.21%
	KLAC	D	-0.18%
	UBER	C	-0.17%
	SONY	C	-0.17%
	MELI	B	-0.16%
	BX	B	-0.16%
	HDB	C	-0.14%
	PANW	D	-0.13%
	AMT	C	-0.13%
	DEO	C	-0.12%
	INFY	C	-0.12%
	TEL	D	-0.11%
	LRCX	F	-0.11%
	ENPH	D	-0.1%
	EQH	C	-0.09%
	LI	D	-0.09%
	WM	D	-0.09%
	SCCO	D	-0.08%
	IDXX	C	-0.08%
	ADSK	C	-0.08%
	SHOP	C	-0.08%
	LULU	D	-0.07%
	CMG	C	-0.07%
	WIT	C	-0.07%
	MUFG	D	-0.07%
	ANET	B	-0.06%
	PDD	F	-0.06%
	TTD	B	-0.05%
	TCOM	C	-0.05%
	LYV	B	-0.04%
	BCS	B	-0.04%
	PLTR	B	-0.04%
	CPAY	B	-0.04%
	ERIE	B	-0.04%
	AXON	B	-0.04%
	ABNB	D	-0.04%
	VRSK	D	-0.04%
	GDDY	C	-0.03%
	BAH	C	-0.03%
	XPEV	C	-0.03%
	CCEP	B	-0.03%
	VEEV	C	-0.03%
	IT	B	-0.03%
	BIDU	D	-0.03%
	AZN	D	-0.03%
	DXCM	F	-0.03%
	BURL	B	-0.03%
	LYG	B	-0.02%
	VRT	C	-0.02%
	TEVA	C	-0.02%
	ROL	C	-0.02%
	NIO	C	-0.02%
	PODD	B	-0.02%
	SMCI	F	-0.02%
	HEI	B	-0.02%
	SNOW	F	-0.02%
	ODFL	D	-0.02%
	ASAI	F	-0.02%
	BCH	C	-0.02%
	XRX	D	-0.02%
	POOL	C	-0.02%
	WDAY	D	-0.02%
	MBAVU	C	-0.01%
	QGEN	C	-0.01%
	SNAP	F	-0.01%
	NXPI	F	-0.01%
	DOCU	C	-0.01%
	QFIN	B	-0.01%
	CLX	C	-0.01%
	KB	D	-0.01%
	NBIX	F	-0.01%
	PINS	F	-0.01%
	CRWD	D	-0.01%
	WIT	C	-0.0%
	NIO	C	-0.0%

IWD: Top Represented Industries & Keywords

Industries: Diversified Industrials Banks - Regional - US Software - Application Utilities - Regulated Electric Oil & Gas E&P Semiconductors Asset Management Diagnostics & Research Biotechnology Business Services 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 Real Estate Investment Trust Bank Electronics Banking Computing Chemical Aerospace Electricity Mining Telecommunications Insurance Products Semiconductor Medicine Beverage Biotechnology Dow Jones Component

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 Bank Dow Jones Component Telecommunications Banking Medicine Insurance Products Mobile Devices Electronics Investment Bank Financial Products Real Estate Investment Trust Work From Home Biotechnology Cloud Computing IBD 50 Aerospace