IWD vs. QARP ETF Comparison

Comparison of iShares Russell 1000 Value ETF (IWD) to Xtrackers Russell 1000 US QARP ETF (QARP)

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 1000Â® 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

QARP

Xtrackers Russell 1000 US QARP ETF

QARP Description

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 2Qual/Val 5% Capped Factor Index (the "underlying index"). The fund will invest at least 80% of its total assets (but typically far more) in component securities of the underlying index. The underlying index is designed to track the equity market performance of companies in the United States selected on the investment style criteria ("factors") of quality and value. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$51.90

Average Daily Volume

19,310

Number of Holdings ^*

344

* may have additional holdings in another (foreign) market

Performance

Period	IWD	QARP
30 Days	3.42%	2.69%
60 Days	5.20%	3.89%
90 Days	8.20%	5.41%
12 Months	22.86%	24.09%

299 Overlapping Holdings

Symbol	Grade	Weight in IWD	Weight in QARP	Overlap
A	C	0.16%	0.1%	0.1%
AAL	D	0.03%	0.03%	0.03%
ABBV	C	0.79%	0.02%	0.02%
ABT	C	0.82%	0.23%	0.23%
ACGL	C	0.16%	0.28%	0.16%
ACI	F	0.03%	0.06%	0.03%
ACM	B	0.05%	0.03%	0.03%
ACN	C	0.89%	1.2%	0.89%
ADI	C	0.45%	0.09%	0.09%
ADM	D	0.12%	0.32%	0.12%
ADP	B	0.03%	0.21%	0.03%
AGCO	D	0.02%	0.06%	0.02%
ALB	D	0.04%	0.02%	0.02%
ALGN	D	0.03%	0.05%	0.03%
ALK	C	0.02%	0.04%	0.02%
ALSN	B	0.03%	0.03%	0.03%
AMAT	D	0.05%	0.78%	0.05%
AMCR	B	0.06%	0.04%	0.04%
AMD	D	0.34%	0.08%	0.08%
AMG	C	0.02%	0.09%	0.02%
AMGN	B	0.16%	0.03%	0.03%
AON	B	0.28%	0.33%	0.28%
AOS	D	0.04%	0.07%	0.04%
APA	F	0.04%	0.02%	0.02%
APTV	D	0.08%	0.06%	0.06%
AR	F	0.03%	0.02%	0.02%
ARMK	B	0.04%	0.04%	0.04%
ATO	B	0.08%	0.07%	0.07%
AYI	B	0.03%	0.06%	0.03%
AZO	D	0.02%	0.36%	0.02%
BBWI	F	0.02%	0.02%	0.02%
BBY	C	0.09%	0.26%	0.09%
BIIB	F	0.12%	0.02%	0.02%
BJ	D	0.04%	0.1%	0.04%
BKNG	C	0.03%	0.65%	0.03%
BKR	C	0.13%	0.08%	0.08%
BLD	D	0.05%	0.05%	0.05%
BLDR	C	0.08%	0.17%	0.08%
BMY	C	0.4%	0.55%	0.4%
BRK.A	C	3.32%	5.43%	3.32%
BWA	D	0.03%	0.06%	0.03%
CAH	C	0.05%	0.4%	0.05%
CASY	D	0.05%	0.12%	0.05%
CAT	B	0.59%	0.61%	0.59%
CBOE	C	0.09%	0.08%	0.08%
CBRE	A	0.15%	0.09%	0.09%
CCL	C	0.07%	0.03%	0.03%
CDW	D	0.06%	0.02%	0.02%
CE	F	0.04%	0.04%	0.04%
CF	C	0.06%	0.12%	0.06%
CHE	C	0.03%	0.04%	0.03%
CHK	D	0.04%	0.05%	0.04%
CHRD	F	0.03%	0.05%	0.03%
CHRW	B	0.05%	0.06%	0.05%
CHTR	D	0.13%	0.12%	0.12%
CI	C	0.37%	0.64%	0.37%
CINF	B	0.08%	0.09%	0.08%
CL	D	0.16%	0.26%	0.16%
CLF	F	0.02%	0.05%	0.02%
CMCSA	D	0.62%	0.82%	0.62%
CMI	C	0.17%	0.23%	0.17%
CNC	D	0.16%	0.3%	0.16%
CNM	F	0.01%	0.04%	0.01%
CNP	C	0.07%	0.04%	0.04%
COF	B	0.21%	0.13%	0.13%
COIN	F	0.02%	0.03%	0.02%
COKE	C	0.03%	0.04%	0.03%
COP	D	0.49%	0.76%	0.49%
CPB	C	0.04%	0.03%	0.03%
CPRT	D	0.01%	0.06%	0.01%
CROX	D	0.03%	0.03%	0.03%
CRUS	D	0.03%	0.03%	0.03%
CSCO	C	0.82%	1.77%	0.82%
CSL	B	0.07%	0.05%	0.05%
CSX	D	0.27%	0.07%	0.07%
CTAS	B	0.01%	0.08%	0.01%
CTRA	D	0.07%	0.1%	0.07%
CTSH	C	0.16%	0.3%	0.16%
CTVA	B	0.16%	0.02%	0.02%
CVS	D	0.3%	0.2%	0.2%
CVX	D	0.98%	1.39%	0.98%
DAL	C	0.12%	0.16%	0.12%
DBX	D	0.02%	0.04%	0.02%
DCI	C	0.03%	0.04%	0.03%
DD	B	0.14%	0.02%	0.02%
DE	B	0.41%	0.25%	0.25%
DGX	B	0.07%	0.03%	0.03%
DHI	B	0.23%	0.37%	0.23%
DINO	F	0.03%	0.02%	0.02%
DKS	D	0.05%	0.1%	0.05%
DLTR	F	0.06%	0.07%	0.06%
DOW	D	0.14%	0.08%	0.08%
DOX	C	0.04%	0.07%	0.04%
DPZ	F	0.04%	0.03%	0.03%
DRI	B	0.04%	0.13%	0.04%
DVN	F	0.1%	0.18%	0.1%
EA	D	0.16%	0.19%	0.16%
EBAY	B	0.13%	0.09%	0.09%
EG	C	0.06%	0.06%	0.06%
EL	F	0.05%	0.03%	0.03%
ELV	C	0.44%	0.67%	0.44%
EME	B	0.05%	0.12%	0.05%
EOG	D	0.28%	0.47%	0.28%
EPAM	F	0.04%	0.04%	0.04%
EVR	A	0.03%	0.09%	0.03%
EW	F	0.13%	0.06%	0.06%
EXEL	C	0.01%	0.03%	0.01%
EXP	B	0.01%	0.05%	0.01%
EXPD	C	0.06%	0.14%	0.06%
FANG	D	0.12%	0.19%	0.12%
FAST	C	0.03%	0.19%	0.03%
FCN	D	0.03%	0.03%	0.03%
FCNCA	D	0.09%	0.13%	0.09%
FCX	D	0.25%	0.04%	0.04%
FDS	C	0.04%	0.1%	0.04%
FDX	C	0.26%	0.34%	0.26%
FFIV	B	0.05%	0.05%	0.05%
FICO	B	0.03%	0.06%	0.03%
FIVE	D	0.0%	0.02%	0.0%
FND	C	0.03%	0.05%	0.03%
FOXA	B	0.04%	0.03%	0.03%
FTNT	C	0.04%	0.18%	0.04%
G	C	0.03%	0.03%	0.03%
GAP	F	0.02%	0.03%	0.02%
GEHC	C	0.14%	0.15%	0.14%
GEV	B	0.25%	0.13%	0.13%
GGG	C	0.06%	0.07%	0.06%
GILD	B	0.42%	0.31%	0.31%
GIS	B	0.17%	0.11%	0.11%
GLPI	C	0.05%	0.03%	0.03%
GM	C	0.21%	0.21%	0.21%
GNTX	F	0.03%	0.04%	0.03%
GPC	D	0.08%	0.08%	0.08%
GRMN	D	0.11%	0.14%	0.11%
GWW	B	0.02%	0.24%	0.02%
HAL	F	0.1%	0.06%	0.06%
HCA	B	0.23%	0.32%	0.23%
HD	B	0.31%	1.94%	0.31%
HII	D	0.04%	0.03%	0.03%
HLI	B	0.03%	0.03%	0.03%
HOLX	B	0.08%	0.05%	0.05%
HPQ	D	0.1%	0.08%	0.08%
HRB	C	0.03%	0.09%	0.03%
HST	C	0.05%	0.03%	0.03%
HSY	C	0.1%	0.1%	0.1%
HUM	F	0.16%	0.4%	0.16%
INCY	C	0.04%	0.06%	0.04%
INGR	B	0.04%	0.04%	0.04%
INTC	F	0.34%	0.07%	0.07%
IP	B	0.07%	0.04%	0.04%
ITT	B	0.04%	0.04%	0.04%
ITW	C	0.19%	0.31%	0.19%
J	C	0.07%	0.04%	0.04%
JBHT	D	0.06%	0.05%	0.05%
JBL	D	0.05%	0.05%	0.05%
JHG	B	0.02%	0.02%	0.02%
JKHY	B	0.05%	0.05%	0.05%
JNJ	C	1.62%	2.71%	1.62%
JNPR	B	0.05%	0.04%	0.04%
K	B	0.09%	0.06%	0.06%
KEYS	C	0.11%	0.12%	0.11%
KMB	D	0.12%	0.18%	0.12%
KNX	C	0.03%	0.03%	0.03%
KR	C	0.15%	0.28%	0.15%
KVUE	C	0.18%	0.21%	0.18%
LAMR	B	0.03%	0.03%	0.03%
LEA	F	0.02%	0.05%	0.02%
LECO	F	0.03%	0.04%	0.03%
LEN	B	0.01%	0.45%	0.01%
LEN	B	0.18%	0.45%	0.18%
LKQ	F	0.04%	0.03%	0.03%
LMT	C	0.33%	0.81%	0.33%
LNG	C	0.08%	0.06%	0.06%
LOPE	D	0.01%	0.03%	0.01%
LOW	B	0.59%	0.76%	0.59%
LPX	B	0.01%	0.03%	0.01%
LSTR	D	0.03%	0.05%	0.03%
LUV	C	0.07%	0.1%	0.07%
LYB	D	0.1%	0.11%	0.1%
M	F	0.02%	0.02%	0.02%
MAR	C	0.22%	0.11%	0.11%
MAS	B	0.07%	0.08%	0.07%
MCD	B	0.81%	0.41%	0.41%
MCHP	F	0.17%	0.04%	0.04%
MCK	F	0.16%	1.01%	0.16%
MGM	F	0.04%	0.05%	0.04%
MHK	C	0.03%	0.03%	0.03%
MKTX	C	0.04%	0.05%	0.04%
MMC	C	0.4%	0.61%	0.4%
MMM	B	0.24%	0.12%	0.12%
MNST	D	0.03%	0.14%	0.03%
MO	C	0.37%	0.65%	0.37%
MOH	D	0.03%	0.07%	0.03%
MOS	F	0.03%	0.04%	0.03%
MPC	F	0.23%	0.28%	0.23%
MRNA	F	0.09%	0.1%	0.09%
MRO	C	0.06%	0.11%	0.06%
MSCI	C	0.07%	0.22%	0.07%
MSM	D	0.01%	0.03%	0.01%
MTD	D	0.12%	0.11%	0.11%
MTG	B	0.03%	0.12%	0.03%
MTZ	B	0.03%	0.02%	0.02%
MU	F	0.41%	0.32%	0.32%
NEU	D	0.02%	0.02%	0.02%
NKE	D	0.15%	0.34%	0.15%
NTAP	D	0.05%	0.06%	0.05%
NUE	F	0.14%	0.37%	0.14%
NVR	B	0.11%	0.23%	0.11%
NYT	C	0.04%	0.04%	0.04%
OC	D	0.06%	0.11%	0.06%
OLN	D	0.02%	0.03%	0.02%
ON	D	0.12%	0.05%	0.05%
ORLY	C	0.02%	0.37%	0.02%
OSK	F	0.03%	0.03%	0.03%
OTIS	C	0.15%	0.04%	0.04%
OVV	F	0.04%	0.03%	0.03%
OXY	F	0.14%	0.06%	0.06%
PAYC	D	0.01%	0.03%	0.01%
PAYX	C	0.11%	0.19%	0.11%
PCAR	D	0.2%	0.21%	0.2%
PFE	C	0.67%	0.59%	0.59%
PFGC	B	0.04%	0.07%	0.04%
PG	C	1.29%	1.51%	1.29%
PGR	B	0.1%	0.06%	0.06%
PHM	B	0.12%	0.23%	0.12%
PII	D	0.02%	0.03%	0.02%
PINC	C	0.01%	0.03%	0.01%
PKG	B	0.08%	0.05%	0.05%
PM	C	0.79%	0.58%	0.58%
PSA	B	0.19%	0.35%	0.19%
PSX	F	0.22%	0.12%	0.12%
PVH	F	0.02%	0.03%	0.02%
PWR	B	0.11%	0.05%	0.05%
PYPL	B	0.3%	0.28%	0.28%
QCOM	D	0.05%	0.27%	0.05%
REGN	C	0.45%	0.4%	0.4%
RHI	D	0.03%	0.06%	0.03%
RL	C	0.03%	0.05%	0.03%
RLI	B	0.02%	0.02%	0.02%
RNR	C	0.05%	0.06%	0.05%
ROK	D	0.11%	0.09%	0.09%
ROST	C	0.16%	0.29%	0.16%
RPRX	C	0.04%	0.03%	0.03%
RS	D	0.06%	0.15%	0.06%
SAIA	D	0.02%	0.04%	0.02%
SBUX	C	0.1%	0.51%	0.1%
SEIC	C	0.03%	0.06%	0.03%
SJM	C	0.05%	0.03%	0.03%
SKX	D	0.03%	0.07%	0.03%
SLB	F	0.23%	0.14%	0.14%
SNA	C	0.06%	0.1%	0.06%
SOLV	C	0.04%	0.11%	0.04%
SPG	B	0.16%	0.2%	0.16%
SPGI	B	0.66%	0.08%	0.08%
SSD	D	0.03%	0.03%	0.03%
STLD	F	0.07%	0.2%	0.07%
SWKS	D	0.07%	0.1%	0.07%
SYF	C	0.08%	0.1%	0.08%
SYY	D	0.06%	0.37%	0.06%
T	C	0.63%	0.72%	0.63%
TAP	D	0.04%	0.03%	0.03%
TER	D	0.01%	0.04%	0.01%
TGT	C	0.28%	0.41%	0.28%
THO	D	0.02%	0.03%	0.02%
TJX	B	0.22%	0.85%	0.22%
TOL	B	0.06%	0.07%	0.06%
TPR	C	0.04%	0.09%	0.04%
TROW	D	0.09%	0.23%	0.09%
TSN	C	0.07%	0.04%	0.04%
TT	B	0.22%	0.07%	0.07%
TTEK	C	0.04%	0.03%	0.03%
TXN	C	0.65%	0.38%	0.38%
TXT	D	0.07%	0.06%	0.06%
UAL	C	0.07%	0.06%	0.06%
UHS	B	0.05%	0.06%	0.05%
ULTA	D	0.01%	0.16%	0.01%
UNH	C	2.06%	2.48%	2.06%
UNP	C	0.32%	0.14%	0.14%
UPS	D	0.38%	0.42%	0.38%
URI	B	0.15%	0.2%	0.15%
USFD	B	0.06%	0.03%	0.03%
UTHR	C	0.06%	0.1%	0.06%
VICI	C	0.14%	0.08%	0.08%
VLO	F	0.18%	0.18%	0.18%
VRSN	D	0.06%	0.06%	0.06%
VRTX	D	0.25%	0.22%	0.22%
VZ	B	0.76%	0.74%	0.74%
WAT	C	0.03%	0.03%	0.03%
WBD	D	0.08%	0.03%	0.03%
WMT	C	1.42%	2.86%	1.42%
WSM	D	0.03%	0.16%	0.03%
WSO	C	0.07%	0.07%	0.07%
WST	D	0.03%	0.08%	0.03%
WTW	C	0.12%	0.03%	0.03%
WY	C	0.1%	0.08%	0.08%
WYNN	D	0.03%	0.03%	0.03%
X	F	0.03%	0.03%	0.03%
XOM	C	2.02%	3.11%	2.02%
YUM	D	0.09%	0.06%	0.06%

IWD Overweight 564 Positions Relative to QARP

Symbol	Grade	Weight
JPM	D	2.37%
BAC	D	1.06%
TMO	B	0.95%
LIN	B	0.91%
IBM	B	0.8%
WFC	D	0.75%
DHR	B	0.74%
NEE	C	0.7%
DIS	D	0.67%
RTX	C	0.64%
GE	B	0.62%
BLK	B	0.53%
BSX	B	0.5%
PLD	C	0.49%
ETN	C	0.49%
KO	C	0.48%
MDT	C	0.48%
CB	B	0.47%
HON	D	0.46%
GS	C	0.45%
C	C	0.45%
MS	D	0.43%
MDLZ	B	0.41%
SO	B	0.4%
TMUS	C	0.4%
SYK	C	0.38%
DUK	C	0.37%
ICE	C	0.37%
AXP	B	0.37%
GD	B	0.34%
SCHW	D	0.34%
CME	C	0.32%
EQIX	C	0.32%
PH	B	0.31%
BA	F	0.31%
WELL	C	0.31%
PNC	B	0.29%
NOC	B	0.29%
FI	A	0.28%
USB	B	0.28%
BDX	D	0.27%
APD	B	0.26%
CARR	B	0.26%
NEM	B	0.25%
AFL	C	0.25%
EMR	D	0.24%
MRVL	C	0.24%
KKR	B	0.24%
ROP	C	0.24%
TDG	B	0.24%
AJG	D	0.24%
CRH	B	0.24%
TFC	C	0.23%
OKE	B	0.22%
O	C	0.22%
TRV	C	0.22%
WMB	B	0.22%
AEP	C	0.22%
NSC	C	0.22%
PEP	C	0.21%
DLR	B	0.21%
BK	B	0.21%
CCI	C	0.21%
CEG	C	0.21%
SRE	C	0.21%
D	C	0.2%
AIG	D	0.2%
JCI	B	0.2%
FIS	B	0.19%
LHX	C	0.18%
MET	B	0.18%
KMI	B	0.17%
ALL	B	0.17%
PRU	C	0.17%
PEG	B	0.17%
F	F	0.17%
RSG	D	0.17%
PCG	C	0.17%
AME	C	0.16%
KDP	B	0.16%
STZ	D	0.16%
EXC	C	0.16%
ED	C	0.15%
HWM	B	0.15%
CRM	D	0.15%
FERG	D	0.15%
IR	C	0.15%
EXR	B	0.15%
IQV	C	0.15%
MSI	B	0.15%
HIG	B	0.14%
XEL	B	0.14%
APH	D	0.13%
XYL	C	0.13%
KHC	C	0.13%
CSGP	D	0.13%
EIX	C	0.13%
GLW	C	0.13%
DFS	B	0.13%
AVB	B	0.13%
FITB	B	0.12%
AWK	B	0.12%
EQR	B	0.12%
WAB	B	0.12%
PPG	D	0.12%
MLM	D	0.12%
NDAQ	A	0.12%
EFX	B	0.12%
WEC	C	0.12%
HLT	B	0.11%
RCL	B	0.11%
DTE	C	0.11%
SBAC	C	0.11%
VTR	C	0.11%
RMD	C	0.11%
IFF	B	0.11%
ETR	B	0.11%
ANSS	D	0.11%
MTB	B	0.11%
GPN	D	0.11%
DELL	D	0.1%
ES	C	0.1%
PPL	C	0.1%
STE	C	0.1%
FSLR	C	0.1%
STT	A	0.1%
DOV	B	0.1%
CHD	D	0.1%
TTWO	C	0.1%
FE	C	0.1%
FTV	C	0.1%
MKC	C	0.09%
WDC	D	0.09%
ARE	C	0.09%
COO	B	0.09%
HUBB	B	0.09%
ZBH	F	0.09%
HPE	D	0.09%
RJF	C	0.09%
AEE	C	0.09%
INVH	C	0.09%
VMC	D	0.09%
LH	C	0.08%
DG	F	0.08%
PFG	B	0.08%
MAA	B	0.08%
OMC	B	0.08%
ESS	B	0.08%
TDY	B	0.08%
RF	B	0.08%
BAX	C	0.08%
SQ	D	0.08%
BALL	C	0.08%
ILMN	C	0.08%
MSTR	D	0.08%
HBAN	B	0.08%
CMS	C	0.08%
LDOS	B	0.08%
DOC	C	0.07%
SSNC	B	0.07%
ZM	C	0.07%
NTRS	A	0.07%
WRB	C	0.07%
SUI	B	0.07%
AVTR	B	0.07%
EQT	D	0.07%
CFG	C	0.07%
TRU	B	0.07%
WPC	C	0.06%
BG	D	0.06%
REG	C	0.06%
TRMB	C	0.06%
VTRS	D	0.06%
AMH	C	0.06%
BRO	C	0.06%
ELS	C	0.06%
RGA	C	0.06%
NDSN	C	0.06%
L	C	0.06%
IRM	C	0.06%
HOOD	C	0.06%
GEN	B	0.06%
AKAM	D	0.06%
VLTO	C	0.06%
KEY	B	0.06%
RVTY	B	0.06%
PNR	B	0.06%
APO	C	0.06%
IEX	D	0.06%
CAG	C	0.06%
LNT	B	0.06%
ZTS	C	0.06%
NI	B	0.06%
MKL	C	0.06%
UDR	C	0.06%
SWK	B	0.06%
THC	A	0.06%
FNF	B	0.06%
KIM	C	0.06%
BMRN	F	0.06%
SCI	B	0.05%
KMX	D	0.05%
SW	B	0.05%
TECH	C	0.05%
IPG	C	0.05%
TFX	C	0.05%
CW	B	0.05%
RPM	B	0.05%
EMN	B	0.05%
CUBE	B	0.05%
ALLE	B	0.05%
BXP	B	0.05%
CLH	A	0.05%
HES	F	0.05%
CPT	B	0.05%
AES	C	0.05%
IBKR	B	0.05%
ZBRA	B	0.05%
EVRG	B	0.05%
FHN	D	0.04%
TTC	D	0.04%
CG	D	0.04%
WAL	B	0.04%
PRI	B	0.04%
ORI	B	0.04%
NNN	C	0.04%
FYBR	C	0.04%
EGP	B	0.04%
HSIC	C	0.04%
CNH	D	0.04%
GPK	B	0.04%
EHC	C	0.04%
MTCH	C	0.04%
HRL	C	0.04%
Z	B	0.04%
RGLD	C	0.04%
AFG	B	0.04%
UNM	B	0.04%
FRT	C	0.04%
CVNA	B	0.04%
GL	C	0.04%
WWD	D	0.04%
NWSA	D	0.04%
WTRG	D	0.04%
FWONK	C	0.04%
AIZ	B	0.04%
OHI	B	0.04%
ATR	B	0.04%
AFRM	C	0.04%
CRL	F	0.04%
NLY	B	0.04%
NRG	C	0.04%
NTNX	C	0.04%
RRX	C	0.04%
PNW	C	0.04%
FTI	D	0.04%
COHR	C	0.04%
FBIN	B	0.04%
QRVO	F	0.04%
CACI	B	0.04%
CCK	A	0.04%
CTLT	B	0.04%
NVT	D	0.04%
REXR	C	0.04%
AVY	C	0.04%
EWBC	D	0.04%
RIVN	F	0.04%
NOV	F	0.03%
PARA	F	0.03%
LW	D	0.03%
CGNX	F	0.03%
BIO	C	0.03%
OKTA	F	0.03%
STWD	B	0.03%
BPOP	C	0.03%
CART	A	0.03%
VNO	B	0.03%
MAT	C	0.03%
MSA	D	0.03%
VFC	C	0.03%
CFR	C	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%
SOFI	C	0.03%
WTFC	B	0.03%
SWN	D	0.03%
RRC	D	0.03%
BFAM	C	0.03%
WCC	D	0.03%
SAIC	C	0.03%
KEX	C	0.03%
MIDD	D	0.03%
ACHC	C	0.03%
MKSI	F	0.03%
HR	C	0.03%
BWXT	D	0.03%
ELAN	D	0.03%
EXAS	C	0.03%
STAG	C	0.03%
AGNC	B	0.03%
ONTO	D	0.03%
PNFP	B	0.03%
FR	B	0.03%
DTM	B	0.03%
CR	C	0.03%
CBSH	C	0.03%
WEX	C	0.03%
LAD	D	0.03%
ADC	C	0.03%
BRBR	C	0.03%
ATI	C	0.03%
KBR	D	0.03%
GWRE	A	0.03%
CMA	B	0.03%
AXTA	B	0.03%
BERY	B	0.03%
JEF	B	0.03%
VOYA	B	0.03%
WBS	D	0.03%
GMED	D	0.03%
ALLY	F	0.03%
DAY	D	0.03%
APG	D	0.03%
SHW	B	0.03%
TKO	B	0.03%
FMC	C	0.03%
ROKU	C	0.03%
PTC	D	0.03%
CIEN	C	0.03%
AA	D	0.03%
ECL	B	0.03%
RBC	C	0.03%
OGE	C	0.03%
COLD	D	0.03%
TW	B	0.03%
CZR	C	0.03%
TWLO	D	0.03%
JLL	B	0.03%
BRX	B	0.03%
SNX	D	0.03%
SF	A	0.03%
LITE	B	0.02%
COTY	F	0.02%
ALNY	C	0.02%
PRGO	D	0.02%
MPW	C	0.02%
CIVI	F	0.02%
DXC	C	0.02%
RH	B	0.02%
IAC	C	0.02%
AMP	A	0.02%
UHAL	A	0.02%
SITE	C	0.02%
BILL	D	0.02%
GFS	F	0.02%
ROIV	C	0.02%
DLB	D	0.02%
BYD	C	0.02%
GNRC	D	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%
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%
OLED	C	0.02%
CCCS	D	0.02%
FOX	B	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%
ST	D	0.02%
COLB	B	0.02%
KD	D	0.02%
WHR	D	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%
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%
GME	F	0.02%
MDU	C	0.02%
DAR	F	0.02%
ESAB	C	0.02%
WH	B	0.02%
MTSI	D	0.02%
SRCL	A	0.02%
POST	C	0.02%
ESI	D	0.02%
BEN	F	0.02%
DASH	C	0.02%
RITM	B	0.02%
IVZ	B	0.02%
R	A	0.02%
GXO	D	0.02%
OLLI	C	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%
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%
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%
BR	D	0.01%
KSS	F	0.01%
QS	F	0.01%
JWN	C	0.01%
ETSY	F	0.01%
MASI	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%
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%
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%
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%
UHAL	A	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%
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 46 Positions Relative to QARP

Symbol	Grade	Weight
AAPL	C	-5.0%
META	B	-4.8%
AMZN	C	-3.6%
COST	B	-2.39%
MSFT	C	-2.12%
GOOGL	D	-2.12%
GOOG	D	-1.92%
V	C	-1.81%
MA	B	-1.57%
ADBE	F	-1.05%
TSLA	C	-0.58%
LRCX	F	-0.46%
MRK	D	-0.4%
MCO	B	-0.35%
ABNB	D	-0.21%
KLAC	D	-0.2%
ISRG	B	-0.17%
ODFL	D	-0.17%
TSCO	C	-0.16%
LPLA	D	-0.14%
NVDA	D	-0.14%
LULU	D	-0.14%
EXPE	C	-0.13%
DECK	C	-0.12%
VST	C	-0.12%
ANET	B	-0.11%
CPNG	B	-0.1%
CMG	C	-0.1%
LYV	B	-0.07%
CLX	C	-0.07%
MUSA	D	-0.06%
ADSK	C	-0.06%
POOL	C	-0.06%
BX	B	-0.05%
TXRH	C	-0.05%
LVS	D	-0.04%
KNSL	C	-0.04%
LLY	C	-0.04%
ORCL	C	-0.04%
BURL	B	-0.04%
VVV	D	-0.03%
ROL	C	-0.03%
MEDP	F	-0.03%
FIX	B	-0.03%
CDNS	D	-0.02%
IWB	B	-0.0%