IWS vs. SSPY ETF Comparison

Comparison of iShares Russell Mid-cap Value ETF (IWS) to Syntax Stratified LargeCap ETF (SSPY)

IWS

iShares Russell Mid-cap Value ETF

IWS Description

The investment seeks to track the investment results of an index composed of 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 Midcap Value Index (the "underlying index"), which measures the performance of the mid-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$134.29

Average Daily Volume

266,918

Number of Holdings ^*

706

* may have additional holdings in another (foreign) market

SSPY

Syntax Stratified LargeCap ETF

SSPY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies in the Syntax Stratified LargeCap Index (the "index"). Under normal market conditions, the fund generally invests substantially all, and at least 95% of its total assets in the securities comprising the index. The index, which was created by Syntax, LLC, an affiliate of the fund's investment adviser, is the stratified-weight version of the widely used S&P 500® Index and holds the same constituents as the S&P 500.

Grade (RS Rating)

Last Trade

$79.86

Average Daily Volume

2,856

Number of Holdings ^*

500

* may have additional holdings in another (foreign) market

Performance

Period	IWS	SSPY
30 Days	0.25%	-0.28%
60 Days	3.66%	0.30%
90 Days	6.80%	2.89%
12 Months	28.99%	21.97%

282 Overlapping Holdings

Symbol	Grade	Weight in IWS	Weight in SSPY	Overlap
A	D	0.43%	0.15%	0.15%
ACGL	C	0.4%	0.14%	0.14%
ADM	D	0.27%	0.37%	0.27%
AEE	A	0.26%	0.08%	0.08%
AES	F	0.1%	0.32%	0.1%
AFL	C	0.66%	0.2%	0.2%
AIZ	A	0.12%	0.2%	0.12%
AJG	A	0.64%	0.03%	0.03%
AKAM	F	0.15%	0.27%	0.15%
ALB	C	0.13%	0.05%	0.05%
ALGN	D	0.07%	0.1%	0.07%
ALL	A	0.47%	0.2%	0.2%
ALLE	D	0.14%	0.08%	0.08%
AMCR	C	0.16%	0.13%	0.13%
AME	A	0.48%	0.13%	0.13%
AMP	A	0.05%	0.08%	0.05%
ANSS	B	0.32%	0.17%	0.17%
AOS	F	0.1%	0.21%	0.1%
APA	F	0.09%	0.07%	0.07%
APTV	F	0.17%	0.4%	0.17%
ARE	D	0.21%	0.11%	0.11%
ATO	A	0.23%	0.33%	0.23%
AVB	A	0.36%	0.1%	0.1%
AVY	D	0.11%	0.06%	0.06%
AWK	C	0.29%	0.32%	0.29%
BALL	D	0.2%	0.13%	0.13%
BAX	F	0.19%	0.05%	0.05%
BBWI	C	0.07%	0.19%	0.07%
BBY	C	0.21%	0.17%	0.17%
BEN	C	0.07%	0.09%	0.07%
BG	D	0.13%	0.37%	0.13%
BIIB	F	0.27%	0.24%	0.24%
BK	A	0.62%	0.11%	0.11%
BKR	A	0.47%	0.35%	0.35%
BLDR	D	0.21%	0.19%	0.19%
BR	A	0.03%	0.11%	0.03%
BRO	B	0.16%	0.04%	0.04%
BWA	A	0.08%	0.42%	0.08%
BXP	D	0.14%	0.11%	0.11%
CAG	F	0.15%	0.21%	0.15%
CAH	B	0.13%	0.19%	0.13%
CBOE	D	0.22%	0.04%	0.04%
CBRE	B	0.45%	0.04%	0.04%
CCI	D	0.5%	0.06%	0.06%
CCL	A	0.26%	0.09%	0.09%
CDW	F	0.14%	0.13%	0.13%
CE	F	0.07%	0.07%	0.07%
CF	A	0.17%	0.09%	0.09%
CFG	A	0.22%	0.06%	0.06%
CHD	A	0.28%	0.42%	0.28%
CHRW	A	0.14%	0.09%	0.09%
CHTR	B	0.4%	0.47%	0.4%
CINF	A	0.25%	0.14%	0.14%
CMI	A	0.53%	0.08%	0.08%
CMS	C	0.22%	0.08%	0.08%
CNC	F	0.34%	0.26%	0.26%
CNP	A	0.21%	0.26%	0.21%
CPB	D	0.09%	0.2%	0.09%
CPT	D	0.14%	0.11%	0.11%
CRL	D	0.12%	0.14%	0.12%
CSGP	F	0.34%	0.04%	0.04%
CTLT	C	0.12%	0.25%	0.12%
CTRA	A	0.2%	0.17%	0.17%
CTSH	B	0.43%	0.13%	0.13%
CTVA	D	0.44%	0.08%	0.08%
CZR	F	0.1%	0.07%	0.07%
DAL	A	0.43%	0.28%	0.28%
DAY	B	0.12%	0.22%	0.12%
DD	D	0.38%	0.05%	0.05%
DFS	A	0.47%	0.69%	0.47%
DG	F	0.18%	0.17%	0.17%
DGX	A	0.19%	0.16%	0.16%
DHI	D	0.54%	0.24%	0.24%
DLR	A	0.64%	0.26%	0.26%
DLTR	F	0.13%	0.17%	0.13%
DOC	D	0.17%	0.11%	0.11%
DOV	A	0.3%	0.17%	0.17%
DOW	F	0.35%	0.07%	0.07%
DPZ	C	0.11%	0.52%	0.11%
DRI	B	0.1%	0.51%	0.1%
DTE	C	0.26%	0.25%	0.25%
DVN	F	0.27%	0.16%	0.16%
EA	A	0.46%	0.49%	0.46%
EBAY	D	0.34%	0.22%	0.22%
ED	D	0.37%	0.24%	0.24%
EFX	F	0.29%	0.04%	0.04%
EG	D	0.14%	0.14%	0.14%
EIX	C	0.34%	0.25%	0.25%
EMN	C	0.13%	0.05%	0.05%
EPAM	B	0.13%	0.13%	0.13%
EQR	C	0.3%	0.1%	0.1%
EQT	A	0.25%	0.18%	0.18%
ES	C	0.23%	0.07%	0.07%
ESS	A	0.21%	0.1%	0.1%
ETR	A	0.34%	0.25%	0.25%
EVRG	A	0.15%	0.08%	0.08%
EXC	C	0.41%	0.3%	0.3%
EXPD	D	0.15%	0.09%	0.09%
EXR	C	0.38%	0.11%	0.11%
FANG	D	0.37%	0.07%	0.07%
FAST	B	0.08%	0.13%	0.08%
FDS	A	0.13%	0.04%	0.04%
FE	C	0.26%	0.24%	0.24%
FFIV	B	0.15%	0.21%	0.15%
FICO	A	0.09%	0.05%	0.05%
FIS	B	0.54%	0.05%	0.05%
FITB	A	0.34%	0.06%	0.06%
FMC	F	0.08%	0.09%	0.08%
FOX	A	0.06%	0.1%	0.06%
FOXA	A	0.11%	0.1%	0.1%
FRT	B	0.1%	0.06%	0.06%
FSLR	F	0.22%	0.2%	0.2%
FTV	D	0.29%	0.03%	0.03%
GEHC	D	0.37%	0.1%	0.1%
GEN	B	0.17%	0.17%	0.17%
GIS	D	0.4%	0.21%	0.21%
GL	B	0.11%	0.2%	0.11%
GLW	B	0.4%	0.19%	0.19%
GNRC	B	0.06%	0.08%	0.06%
GPC	D	0.18%	0.15%	0.15%
GPN	B	0.31%	0.04%	0.04%
GRMN	B	0.36%	0.33%	0.33%
GWW	A	0.07%	0.12%	0.07%
HAL	C	0.28%	0.34%	0.28%
HAS	D	0.01%	0.26%	0.01%
HBAN	A	0.27%	0.06%	0.06%
HES	B	0.15%	0.07%	0.07%
HIG	C	0.37%	0.14%	0.14%
HII	F	0.09%	0.08%	0.08%
HLT	A	0.32%	0.12%	0.12%
HOLX	D	0.19%	0.1%	0.1%
HPE	B	0.31%	0.19%	0.19%
HPQ	B	0.3%	0.35%	0.3%
HRL	D	0.1%	0.36%	0.1%
HSIC	D	0.09%	0.2%	0.09%
HST	D	0.14%	0.11%	0.11%
HSY	F	0.24%	0.18%	0.18%
HUBB	B	0.27%	0.26%	0.26%
HUM	F	0.38%	0.26%	0.26%
HWM	A	0.47%	0.08%	0.08%
IEX	B	0.19%	0.2%	0.19%
IFF	D	0.26%	0.05%	0.05%
INCY	B	0.14%	0.25%	0.14%
INVH	D	0.22%	0.1%	0.1%
IP	A	0.22%	0.06%	0.06%
IPG	F	0.12%	0.34%	0.12%
IQV	F	0.38%	0.14%	0.14%
IR	A	0.45%	0.2%	0.2%
IRM	D	0.16%	0.06%	0.06%
IVZ	B	0.07%	0.09%	0.07%
J	D	0.2%	0.4%	0.2%
JBHT	B	0.17%	0.08%	0.08%
JBL	C	0.15%	0.38%	0.15%
JKHY	D	0.14%	0.05%	0.05%
JNPR	D	0.14%	0.2%	0.14%
K	B	0.23%	0.18%	0.18%
KEY	A	0.19%	0.06%	0.06%
KEYS	C	0.31%	0.21%	0.21%
KIM	A	0.18%	0.06%	0.06%
KMI	A	0.56%	0.25%	0.25%
KMX	B	0.12%	0.14%	0.12%
KR	B	0.43%	0.74%	0.43%
KVUE	A	0.49%	0.42%	0.42%
L	A	0.16%	0.49%	0.16%
LDOS	C	0.29%	0.13%	0.13%
LEN	D	0.02%	0.25%	0.02%
LEN	D	0.45%	0.25%	0.25%
LH	B	0.22%	0.16%	0.16%
LHX	B	0.53%	0.08%	0.08%
LKQ	D	0.11%	0.14%	0.11%
LNT	A	0.16%	0.08%	0.08%
LUV	A	0.21%	0.25%	0.21%
LW	C	0.09%	0.22%	0.09%
LYB	F	0.24%	0.07%	0.07%
MAA	A	0.2%	0.1%	0.1%
MAS	D	0.19%	0.19%	0.19%
MCHP	F	0.42%	0.14%	0.14%
MGM	D	0.09%	0.07%	0.07%
MHK	D	0.08%	0.19%	0.08%
MKC	D	0.21%	0.21%	0.21%
MKTX	C	0.11%	0.04%	0.04%
MLM	B	0.39%	0.17%	0.17%
MOH	F	0.08%	0.25%	0.08%
MOS	D	0.1%	0.08%	0.08%
MRO	A	0.17%	0.07%	0.07%
MSCI	A	0.21%	0.04%	0.04%
MTB	A	0.38%	0.06%	0.06%
MTCH	F	0.09%	0.47%	0.09%
MTD	F	0.3%	0.15%	0.15%
NDAQ	A	0.35%	0.04%	0.04%
NDSN	B	0.16%	0.03%	0.03%
NI	A	0.17%	0.33%	0.17%
NRG	B	0.13%	0.33%	0.13%
NTAP	D	0.15%	0.17%	0.15%
NTRS	A	0.23%	0.08%	0.08%
NUE	D	0.41%	0.26%	0.26%
NVR	D	0.29%	0.26%	0.26%
NWS	A	0.04%	0.1%	0.04%
NWSA	B	0.12%	0.1%	0.1%
O	D	0.54%	0.07%	0.07%
OKE	A	0.68%	0.24%	0.24%
OMC	C	0.22%	0.34%	0.22%
ON	F	0.33%	0.23%	0.23%
OTIS	D	0.44%	0.08%	0.08%
PARA	C	0.07%	0.2%	0.07%
PAYC	B	0.05%	0.22%	0.05%
PAYX	B	0.33%	0.21%	0.21%
PCG	A	0.48%	0.08%	0.08%
PEG	C	0.46%	0.26%	0.26%
PFG	C	0.21%	0.21%	0.21%
PHM	D	0.3%	0.25%	0.25%
PKG	B	0.23%	0.06%	0.06%
PNR	A	0.19%	0.19%	0.19%
PNW	A	0.11%	0.07%	0.07%
PPG	F	0.32%	0.07%	0.07%
PPL	A	0.27%	0.08%	0.08%
PRU	A	0.47%	0.2%	0.2%
PTC	B	0.1%	0.17%	0.1%
PWR	A	0.36%	0.4%	0.36%
QRVO	F	0.07%	0.21%	0.07%
RCL	A	0.38%	0.09%	0.09%
REG	A	0.15%	0.06%	0.06%
RF	A	0.26%	0.06%	0.06%
RJF	A	0.33%	0.25%	0.25%
RL	B	0.1%	0.32%	0.1%
RMD	C	0.29%	0.09%	0.09%
ROK	A	0.31%	0.03%	0.03%
ROST	D	0.39%	0.72%	0.39%
RVTY	D	0.16%	0.1%	0.1%
SBAC	D	0.26%	0.06%	0.06%
SJM	F	0.13%	0.21%	0.13%
SNA	A	0.2%	0.25%	0.2%
SOLV	C	0.11%	0.05%	0.05%
SPG	A	0.47%	0.07%	0.07%
STE	D	0.23%	0.12%	0.12%
STLD	B	0.24%	0.27%	0.24%
STT	A	0.31%	0.12%	0.12%
SW	A	0.29%	0.07%	0.07%
SWK	F	0.15%	0.27%	0.15%
SWKS	F	0.15%	0.21%	0.15%
SYF	A	0.27%	0.69%	0.27%
SYY	D	0.16%	0.75%	0.16%
TAP	A	0.11%	0.25%	0.11%
TDY	B	0.24%	0.03%	0.03%
TECH	D	0.13%	0.15%	0.13%
TER	F	0.02%	0.17%	0.02%
TFX	F	0.1%	0.05%	0.05%
TPR	A	0.13%	0.33%	0.13%
TRMB	A	0.19%	0.03%	0.03%
TROW	A	0.28%	0.09%	0.09%
TSN	A	0.18%	0.36%	0.18%
TTWO	A	0.33%	0.49%	0.33%
TXT	D	0.18%	0.16%	0.16%
TYL	B	0.04%	0.22%	0.04%
UAL	A	0.31%	0.28%	0.28%
UDR	C	0.16%	0.1%	0.1%
UHS	D	0.13%	0.32%	0.13%
ULTA	D	0.03%	0.17%	0.03%
URI	B	0.48%	0.14%	0.14%
VICI	C	0.35%	0.06%	0.06%
VLTO	D	0.15%	0.03%	0.03%
VMC	B	0.31%	0.17%	0.17%
VRSN	D	0.16%	0.27%	0.16%
VTR	C	0.29%	0.11%	0.11%
VTRS	A	0.17%	0.24%	0.17%
WAB	B	0.38%	0.13%	0.13%
WAT	B	0.1%	0.15%	0.1%
WBA	F	0.07%	0.64%	0.07%
WBD	B	0.24%	0.19%	0.19%
WDC	F	0.25%	0.17%	0.17%
WEC	A	0.33%	0.07%	0.07%
WMB	A	0.74%	0.25%	0.25%
WRB	A	0.19%	0.14%	0.14%
WST	C	0.1%	0.05%	0.05%
WTW	B	0.35%	0.03%	0.03%
WY	D	0.25%	0.17%	0.17%
WYNN	D	0.09%	0.08%	0.08%
XEL	A	0.41%	0.08%	0.08%
XYL	D	0.33%	0.19%	0.19%
YUM	D	0.26%	0.51%	0.26%
ZBH	C	0.24%	0.12%	0.12%
ZBRA	B	0.17%	0.13%	0.13%

IWS Overweight 424 Positions Relative to SSPY

Symbol	Grade	Weight
MSTR	B	0.43%
FERG	D	0.42%
FCNCA	A	0.28%
SQ	A	0.26%
ILMN	C	0.26%
LNG	A	0.25%
EXE	A	0.23%
ZM	B	0.23%
COO	D	0.22%
HOOD	A	0.22%
TRU	D	0.21%
WSO	A	0.2%
RS	B	0.2%
CVNA	A	0.19%
UTHR	B	0.19%
CSL	B	0.19%
IBKR	A	0.19%
MKL	A	0.18%
OC	A	0.18%
USFD	B	0.17%
AVTR	F	0.17%
SUI	D	0.17%
THC	C	0.17%
FNF	C	0.17%
SSNC	D	0.17%
TOL	B	0.17%
EME	B	0.16%
COHR	B	0.16%
GGG	A	0.16%
CW	B	0.16%
RGA	A	0.16%
ACM	B	0.16%
RNR	D	0.15%
EWBC	A	0.15%
ITT	A	0.14%
CACI	C	0.14%
CASY	B	0.14%
TWLO	A	0.14%
BMRN	F	0.14%
NVT	B	0.14%
UNM	A	0.14%
GLPI	D	0.14%
ELS	B	0.14%
RPM	A	0.14%
CLH	C	0.14%
ATR	B	0.13%
RRX	B	0.13%
Z	A	0.13%
BJ	B	0.13%
NTNX	A	0.13%
WPC	D	0.13%
FTI	A	0.13%
SCI	B	0.13%
AMH	C	0.13%
BLD	F	0.12%
WWD	B	0.12%
AFRM	A	0.12%
FWONK	B	0.12%
FHN	A	0.12%
CUBE	C	0.12%
CCK	D	0.12%
EVR	A	0.12%
AA	A	0.12%
PFGC	B	0.12%
SOFI	A	0.12%
OVV	C	0.12%
SF	A	0.12%
CG	B	0.12%
WAL	A	0.11%
FBIN	D	0.11%
TTEK	D	0.11%
RGLD	C	0.11%
WBS	A	0.11%
AFG	A	0.11%
WTRG	C	0.11%
NLY	C	0.11%
INGR	B	0.11%
LAD	A	0.11%
AYI	A	0.11%
EHC	B	0.11%
OHI	C	0.11%
RPRX	F	0.11%
ARMK	C	0.11%
CIEN	B	0.11%
PRI	A	0.11%
DKS	D	0.11%
ALSN	B	0.11%
DOX	D	0.11%
GWRE	B	0.1%
GPK	D	0.1%
RIVN	F	0.1%
KBR	D	0.1%
JLL	C	0.1%
HLI	A	0.1%
TTC	D	0.1%
AXTA	A	0.1%
ALLY	C	0.1%
JEF	A	0.1%
WCC	A	0.1%
NYT	D	0.1%
GMED	A	0.1%
RBC	A	0.1%
BWXT	A	0.1%
MTZ	B	0.1%
ORI	A	0.1%
PNFP	A	0.1%
CNH	D	0.1%
X	D	0.1%
BRBR	A	0.1%
TW	B	0.1%
CMA	A	0.1%
REXR	F	0.1%
GME	C	0.1%
DCI	B	0.1%
KNX	B	0.1%
SNX	D	0.1%
DTM	A	0.1%
RRC	B	0.09%
FLS	A	0.09%
SEIC	A	0.09%
ROKU	D	0.09%
ACI	C	0.09%
VNO	B	0.09%
G	A	0.09%
SNV	A	0.09%
CFR	A	0.09%
LBRDK	B	0.09%
CHRD	F	0.09%
TKO	C	0.09%
VOYA	A	0.09%
CART	C	0.09%
CBSH	A	0.09%
WTFC	A	0.09%
LAMR	D	0.09%
ZION	A	0.09%
AAL	B	0.09%
AR	B	0.09%
LECO	C	0.09%
APG	C	0.09%
FYBR	C	0.09%
EGP	D	0.09%
COIN	A	0.09%
BRX	A	0.09%
OGE	A	0.09%
CR	A	0.09%
R	A	0.08%
CGNX	D	0.08%
GNTX	C	0.08%
GXO	B	0.08%
BIO	C	0.08%
FR	D	0.08%
AGNC	C	0.08%
FCN	F	0.08%
ATI	D	0.08%
PB	A	0.08%
SSD	D	0.08%
MKSI	D	0.08%
OSK	C	0.08%
VFC	B	0.08%
KEX	A	0.08%
ESAB	B	0.08%
COKE	C	0.08%
MIDD	D	0.08%
CHE	D	0.08%
SKX	D	0.08%
ADC	A	0.08%
RHI	B	0.08%
PR	C	0.08%
JAZZ	A	0.08%
MTSI	B	0.08%
BERY	D	0.08%
SAIC	D	0.08%
NNN	D	0.08%
BPOP	C	0.07%
OLLI	D	0.07%
STWD	D	0.07%
MTDR	C	0.07%
OMF	A	0.07%
VNT	C	0.07%
LFUS	D	0.07%
MTG	C	0.07%
KD	A	0.07%
S	B	0.07%
ARW	D	0.07%
MSA	D	0.07%
SIRI	C	0.07%
ALK	A	0.07%
NOV	D	0.07%
COLB	A	0.07%
DAR	B	0.07%
ONTO	F	0.07%
FAF	C	0.07%
ESI	B	0.07%
COLD	F	0.07%
AXS	A	0.07%
MAT	C	0.07%
DINO	D	0.07%
AZPN	A	0.07%
HRB	D	0.07%
DOCS	C	0.07%
RLI	A	0.07%
FND	F	0.07%
HR	C	0.07%
WH	A	0.07%
WSM	F	0.07%
RGEN	D	0.07%
LSTR	D	0.07%
STAG	D	0.07%
OKTA	D	0.07%
VMI	B	0.07%
WEX	F	0.07%
ELAN	C	0.07%
AVT	C	0.06%
WSC	F	0.06%
BYD	A	0.06%
PSN	C	0.06%
CCCS	A	0.06%
OLN	F	0.06%
LEA	F	0.06%
NFG	A	0.06%
POST	D	0.06%
THO	B	0.06%
SN	C	0.06%
RITM	C	0.06%
CRUS	F	0.06%
LITE	A	0.06%
EXAS	F	0.06%
THG	A	0.06%
BC	D	0.06%
BFAM	F	0.06%
FNB	A	0.06%
IDA	A	0.06%
AGCO	D	0.06%
JHG	A	0.06%
PVH	C	0.06%
H	B	0.06%
AMG	A	0.06%
WHR	A	0.06%
LNC	A	0.06%
WMS	F	0.06%
BILL	A	0.06%
SAIA	B	0.06%
AMTM	D	0.05%
LINE	F	0.05%
CLF	F	0.05%
OLED	F	0.05%
AN	D	0.05%
GTES	B	0.05%
TPG	B	0.05%
SITE	D	0.05%
M	C	0.05%
GFS	C	0.05%
GAP	C	0.05%
DLB	D	0.05%
EEFT	C	0.05%
SLGN	B	0.05%
WLK	F	0.05%
AWI	A	0.05%
DBX	C	0.05%
AGO	A	0.05%
RYN	D	0.05%
WTM	A	0.05%
CUZ	B	0.05%
KRC	C	0.05%
ST	F	0.05%
CROX	F	0.05%
AL	A	0.05%
TKR	F	0.05%
SON	D	0.05%
OZK	A	0.05%
HXL	F	0.05%
FRPT	B	0.05%
UGI	C	0.05%
ROIV	D	0.05%
SLM	A	0.05%
AM	A	0.04%
LBTYK	A	0.04%
VAC	B	0.04%
ZG	A	0.04%
HUN	F	0.04%
LBTYA	F	0.04%
MASI	A	0.04%
U	F	0.04%
LOPE	B	0.04%
EPR	D	0.04%
FHB	A	0.04%
NVST	C	0.04%
TNL	A	0.04%
HIW	D	0.04%
PII	F	0.04%
PRGO	C	0.04%
XRAY	F	0.04%
MDU	D	0.04%
W	F	0.04%
ACHC	F	0.04%
ZI	D	0.04%
DNB	B	0.04%
NEU	C	0.04%
PLNT	A	0.04%
NWL	B	0.04%
UHAL	D	0.04%
CIVI	F	0.04%
MSGS	B	0.04%
DXC	C	0.04%
VNOM	B	0.04%
ALNY	D	0.04%
IAC	D	0.04%
RH	C	0.04%
HOG	D	0.04%
FLO	D	0.04%
MSM	C	0.04%
ASH	F	0.04%
KMPR	A	0.04%
OGN	F	0.04%
CPRI	F	0.03%
CWEN	D	0.03%
BRKR	F	0.03%
YETI	F	0.03%
AZTA	F	0.03%
PINC	B	0.03%
GLOB	C	0.03%
SHC	D	0.03%
QDEL	F	0.03%
ENOV	C	0.03%
SPB	C	0.03%
EXP	B	0.03%
AGR	A	0.03%
MP	B	0.03%
WU	F	0.03%
HHH	B	0.03%
BOKF	A	0.03%
ALGM	F	0.03%
COTY	F	0.03%
CC	C	0.03%
COLM	B	0.03%
VIRT	A	0.03%
SEE	B	0.03%
CXT	D	0.03%
CNM	F	0.03%
MPW	F	0.03%
LLYVK	A	0.03%
PAG	A	0.03%
NSA	C	0.03%
PK	C	0.03%
MAN	F	0.03%
AMED	F	0.03%
BHF	A	0.03%
SMG	D	0.03%
BROS	A	0.03%
PENN	B	0.03%
IRDM	C	0.03%
AMKR	F	0.03%
SPR	D	0.03%
ECG	D	0.03%
NXST	D	0.03%
SNDR	B	0.02%
REYN	D	0.02%
TRIP	D	0.02%
LEG	F	0.02%
INFA	F	0.02%
UA	B	0.02%
WEN	C	0.02%
GO	C	0.02%
CRI	D	0.02%
EXEL	B	0.02%
UAA	B	0.02%
BIRK	F	0.02%
VSTS	F	0.02%
QS	F	0.02%
CLVT	F	0.02%
FTRE	D	0.02%
KSS	F	0.02%
CNXC	F	0.02%
AZEK	B	0.02%
LYFT	B	0.02%
ALAB	B	0.02%
PPC	B	0.02%
PSTG	F	0.02%
ETSY	D	0.02%
SAM	B	0.02%
LCID	F	0.02%
LPX	A	0.02%
RKT	F	0.02%
RCM	A	0.02%
AAP	D	0.02%
JWN	A	0.02%
HAYW	A	0.02%
IPGP	D	0.02%
ADT	B	0.02%
IONS	F	0.01%
TXG	F	0.01%
PLTK	A	0.01%
CHH	A	0.01%
CACC	D	0.01%
DJT	C	0.01%
SEB	F	0.01%
UI	A	0.01%
TFSL	A	0.01%
PATH	D	0.01%
CWEN	D	0.01%
CAR	C	0.01%
FIVE	F	0.01%
HCP	B	0.01%
LSCC	D	0.01%
MTN	C	0.01%
CNA	C	0.01%
FWONA	B	0.01%
AS	B	0.01%
PYCR	C	0.01%
LLYVA	A	0.01%
DV	C	0.01%
LBRDA	B	0.01%
WOLF	F	0.01%
DDS	B	0.01%
CERT	F	0.01%
NCNO	B	0.01%
LOAR	B	0.0%
PARAA	B	0.0%
SEG	B	0.0%
UWMC	F	0.0%
NFE	F	0.0%
UHAL	D	0.0%
GRAL	C	0.0%
LAZ	B	0.0%

IWS Underweight 219 Positions Relative to SSPY

Symbol	Grade	Weight
XOM	B	-0.77%
CVX	A	-0.76%
WMT	A	-0.73%
TJX	A	-0.72%
COST	B	-0.71%
COF	A	-0.7%
CVS	F	-0.69%
CMCSA	B	-0.52%
PSX	C	-0.51%
VLO	C	-0.5%
EL	F	-0.5%
CMG	B	-0.5%
AAPL	C	-0.5%
MCD	D	-0.5%
BRK.A	A	-0.5%
MPC	D	-0.49%
MSI	A	-0.49%
SBUX	A	-0.48%
META	C	-0.47%
KMB	C	-0.42%
PG	C	-0.42%
VST	A	-0.41%
CL	D	-0.41%
CLX	A	-0.41%
CEG	D	-0.38%
SLB	C	-0.35%
PM	A	-0.35%
CRM	A	-0.35%
MO	A	-0.35%
IBM	D	-0.34%
ORCL	A	-0.34%
SNPS	C	-0.34%
TMUS	A	-0.33%
VZ	C	-0.33%
T	A	-0.33%
HCA	D	-0.33%
NKE	D	-0.33%
CDNS	B	-0.33%
MSFT	D	-0.32%
LULU	C	-0.31%
FCX	F	-0.3%
DECK	A	-0.3%
TSLA	B	-0.28%
GDDY	A	-0.27%
EQIX	B	-0.27%
ENPH	F	-0.26%
LOW	A	-0.26%
HD	A	-0.26%
MS	A	-0.26%
UNH	B	-0.26%
ETN	A	-0.26%
GM	A	-0.25%
NEM	F	-0.25%
KO	D	-0.25%
F	C	-0.25%
GILD	B	-0.25%
STZ	D	-0.25%
ZTS	D	-0.25%
MNST	D	-0.25%
BMY	B	-0.25%
GS	A	-0.25%
SCHW	A	-0.25%
MRNA	F	-0.24%
AMGN	D	-0.24%
JNJ	D	-0.24%
AEP	C	-0.24%
MRK	F	-0.24%
D	C	-0.24%
TRGP	A	-0.24%
PFE	F	-0.24%
KDP	D	-0.24%
NEE	C	-0.24%
ELV	F	-0.24%
ABBV	F	-0.24%
AVGO	C	-0.23%
PLTR	A	-0.23%
CPRT	A	-0.23%
GOOGL	B	-0.23%
GOOG	B	-0.23%
TXN	C	-0.23%
LLY	F	-0.23%
VRTX	C	-0.23%
NXPI	F	-0.23%
REGN	F	-0.22%
NFLX	A	-0.22%
AMZN	B	-0.22%
QCOM	F	-0.22%
NOW	B	-0.22%
ADI	D	-0.22%
MPWR	F	-0.22%
ANET	C	-0.21%
DIS	A	-0.21%
CSCO	B	-0.21%
KHC	F	-0.21%
MET	A	-0.21%
ADP	B	-0.21%
AIG	B	-0.2%
INTU	A	-0.2%
ERIE	F	-0.2%
CI	D	-0.19%
APH	B	-0.19%
TEL	C	-0.19%
PGR	B	-0.19%
PEP	F	-0.18%
RSG	B	-0.18%
CTAS	B	-0.18%
AMAT	F	-0.18%
CRWD	B	-0.18%
GEV	A	-0.18%
WM	B	-0.18%
MDLZ	F	-0.18%
ROL	A	-0.18%
MCK	A	-0.18%
COR	B	-0.18%
HON	A	-0.17%
TGT	D	-0.17%
ADSK	B	-0.17%
MMM	D	-0.17%
FTNT	A	-0.17%
ITW	B	-0.17%
GE	D	-0.17%
DELL	C	-0.17%
KLAC	F	-0.17%
STX	D	-0.17%
INTC	C	-0.16%
PANW	B	-0.16%
ADBE	F	-0.16%
GD	D	-0.16%
BA	F	-0.16%
SMCI	F	-0.15%
MU	D	-0.15%
AZO	C	-0.14%
CAT	B	-0.14%
TMO	D	-0.14%
TRV	A	-0.14%
ORLY	A	-0.14%
CB	C	-0.14%
AMD	F	-0.14%
JPM	A	-0.13%
PCAR	B	-0.13%
POOL	D	-0.13%
DE	D	-0.13%
ACN	C	-0.13%
WFC	A	-0.13%
C	A	-0.13%
IT	B	-0.13%
NVDA	B	-0.13%
MAR	A	-0.12%
ABNB	C	-0.12%
SYK	A	-0.12%
EXPE	A	-0.12%
ISRG	A	-0.12%
TSCO	D	-0.12%
BAC	A	-0.12%
WELL	A	-0.11%
DVA	C	-0.11%
PSA	C	-0.11%
BKNG	A	-0.11%
UBER	C	-0.11%
DXCM	C	-0.1%
PODD	A	-0.1%
DHR	D	-0.1%
IDXX	F	-0.1%
LMT	D	-0.09%
NOC	D	-0.09%
UPS	C	-0.09%
AXON	A	-0.09%
KKR	A	-0.09%
NCLH	B	-0.09%
LYV	A	-0.09%
SO	C	-0.08%
SRE	A	-0.08%
CARR	D	-0.08%
TDG	D	-0.08%
JCI	A	-0.08%
PH	A	-0.08%
UNP	D	-0.08%
NSC	B	-0.08%
ODFL	B	-0.08%
RTX	D	-0.08%
BX	A	-0.08%
BLK	A	-0.08%
LVS	C	-0.08%
CSX	B	-0.08%
OXY	F	-0.07%
COP	C	-0.07%
EOG	A	-0.07%
FDX	A	-0.07%
TT	A	-0.07%
DUK	C	-0.07%
TFC	A	-0.06%
FI	A	-0.06%
USB	B	-0.06%
PNC	A	-0.06%
EW	C	-0.06%
ABT	B	-0.06%
MDT	D	-0.06%
PYPL	A	-0.06%
BSX	B	-0.06%
PLD	D	-0.06%
AMT	D	-0.06%
SHW	B	-0.06%
ECL	D	-0.05%
APD	A	-0.05%
BDX	F	-0.05%
AON	A	-0.04%
MMC	C	-0.04%
VRSK	B	-0.04%
SPGI	C	-0.04%
MCO	C	-0.04%
MA	A	-0.04%
ICE	D	-0.04%
V	A	-0.04%
CPAY	A	-0.04%
AXP	A	-0.04%
CME	A	-0.04%
LIN	D	-0.04%
ROP	C	-0.03%
EMR	A	-0.03%