NXTI vs. QUAL ETF Comparison

Comparison of Simplify Next Intangible Core Index ETF (NXTI) to iShares MSCI USA Quality Factor ETF (QUAL)

NXTI

Simplify Next Intangible Core Index ETF

NXTI Description

NXTI targets US companies with relatively high intangible capital-to-book assets ratios within their respective sectors. The fund defines intangible capital as productive assets that lack physical presence and are created through investments in brand, knowledge, and organization capital. The index construction starts by calculating a ratio of intangible capital-to-book assets for each security in an initial universe consisting of the largest 2000 US companies by market-cap. The 200 stocks with the highest intangible capital-to-book assets ratio are selected for inclusion. At least five stocks are included from each of the 13 sectors determined by the index provider using a combination of SIC and NAICS codes along with data from publicly available 10-K filings. Constituents are weighted by market capitalization, with individual security weights capped at 5%. The index reconstitutes quarterly.

Grade (RS Rating)

Last Trade

$30.42

Average Daily Volume

460

Number of Holdings ^*

197

* may have additional holdings in another (foreign) market

QUAL

iShares MSCI USA Quality Factor ETF

QUAL Description

The investment seeks to track the investment results of an index composed of U.S. large- and mid-capitalization stocks with quality characteristics as identified through certain fundamental metrics. The fund seeks to track the investment results of the MSCI USA Quality Index (the "underlying index"), which is based on a traditional market capitalization-weighted parent index, the MSCI USA Index, which includes U.S. large- and mid-capitalization stocks. It generally invests at least 90% of its assets in the securities of the underlying index or in depositary receipts representing securities in its underlying index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$182.75

Average Daily Volume

893,947

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

Performance

Period	NXTI	QUAL
30 Days	5.73%	1.61%
60 Days	7.47%	2.39%
90 Days	10.93%	3.34%
12 Months		30.86%

45 Overlapping Holdings

Symbol	Grade	Weight in NXTI	Weight in QUAL	Overlap
A	D	0.26%	0.2%	0.2%
ACGL	D	0.14%	0.26%	0.14%
ADBE	C	2.94%	1.76%	1.76%
AFL	B	0.24%	0.42%	0.24%
AMAT	F	0.74%	1.17%	0.74%
AMP	A	0.22%	0.33%	0.22%
AVY	D	0.12%	0.08%	0.08%
BBY	D	0.18%	0.29%	0.18%
CBRE	B	0.15%	0.35%	0.15%
CDNS	B	0.87%	0.58%	0.58%
CSCO	B	2.73%	1.74%	1.74%
CTAS	B	0.55%	0.6%	0.55%
DECK	A	0.14%	0.49%	0.14%
EA	A	0.5%	0.2%	0.2%
ED	D	0.32%	0.5%	0.32%
EXPD	D	0.12%	0.12%	0.12%
FAST	B	0.18%	0.42%	0.18%
GWW	B	0.31%	0.59%	0.31%
HSY	F	0.15%	0.15%	0.15%
IDXX	F	1.04%	0.3%	0.3%
ITW	B	0.49%	0.73%	0.49%
KEYS	A	0.17%	0.15%	0.15%
KO	D	1.23%	1.43%	1.23%
LRCX	F	0.53%	0.73%	0.53%
MA	C	3.02%	4.22%	3.02%
MANH	D	0.19%	0.2%	0.19%
META	D	5.28%	4.09%	4.09%
MMC	B	0.43%	0.74%	0.43%
MMM	D	0.47%	0.5%	0.47%
MNST	C	0.22%	0.21%	0.21%
NKE	D	0.82%	1.41%	0.82%
NTAP	C	0.29%	0.21%	0.21%
PAYX	C	0.32%	0.49%	0.32%
PEP	F	1.02%	1.1%	1.02%
PPG	F	0.12%	0.15%	0.12%
ROL	B	0.15%	0.12%	0.12%
RS	B	0.09%	0.09%	0.09%
SHW	A	0.36%	0.57%	0.36%
SNPS	B	0.95%	0.51%	0.51%
TSCO	D	0.11%	0.43%	0.11%
ULTA	F	0.16%	0.31%	0.16%
UNH	C	2.16%	2.81%	2.16%
VLTO	D	0.23%	0.21%	0.21%
WAT	B	0.14%	0.13%	0.13%
WSM	B	0.14%	0.29%	0.14%

NXTI Overweight 152 Positions Relative to QUAL

Symbol	Grade	Weight
WMT	A	5.09%
BRK.A	B	4.18%
XOM	B	3.43%
NOW	A	2.29%
IBM	C	2.28%
INTU	C	2.08%
HD	A	1.6%
PANW	C	1.5%
ALNY	D	1.07%
UBER	D	1.04%
DELL	C	1.03%
PLTR	B	0.99%
SPOT	B	0.93%
MSI	B	0.91%
HON	B	0.91%
PM	B	0.9%
BKNG	A	0.88%
WDAY	B	0.81%
UPS	C	0.79%
FTNT	C	0.77%
AXP	A	0.77%
BX	A	0.77%
ADSK	A	0.72%
TGT	F	0.67%
GEV	B	0.66%
TEAM	A	0.61%
WMB	A	0.59%
LOW	D	0.59%
ABNB	C	0.58%
FICO	B	0.57%
PGR	A	0.56%
CL	D	0.55%
APP	B	0.54%
DDOG	A	0.54%
TT	A	0.52%
ORLY	B	0.49%
ALGN	D	0.47%
CTSH	B	0.47%
INCY	C	0.46%
D	C	0.46%
HPQ	B	0.45%
NTRA	B	0.45%
FDX	B	0.44%
SRPT	D	0.43%
DASH	A	0.42%
NBIX	C	0.4%
INSM	C	0.39%
PH	A	0.39%
NET	B	0.38%
KR	B	0.37%
CI	F	0.36%
ELV	F	0.36%
ECL	D	0.35%
TRGP	B	0.34%
HUBS	A	0.34%
MPC	D	0.33%
EBAY	D	0.33%
ZS	C	0.33%
PEN	B	0.32%
VST	B	0.32%
GDDY	A	0.31%
KMB	D	0.31%
CMI	A	0.3%
HSIC	B	0.3%
CDW	F	0.3%
ITCI	C	0.29%
CVS	D	0.29%
PINS	D	0.29%
EXEL	B	0.29%
IOT	A	0.28%
STX	D	0.26%
BKR	B	0.25%
AJG	B	0.25%
IT	C	0.24%
RDDT	B	0.24%
MDB	C	0.24%
SNAP	C	0.23%
VMC	B	0.23%
ZBRA	B	0.23%
NWS	B	0.22%
TRV	B	0.22%
IONS	F	0.22%
NTNX	A	0.21%
MDGL	B	0.2%
CYTK	F	0.2%
BPMC	C	0.2%
AIG	B	0.2%
CVNA	B	0.19%
DT	C	0.19%
INSP	D	0.19%
ALL	A	0.19%
PSTG	D	0.19%
SMMT	D	0.19%
TOST	B	0.19%
BBIO	F	0.18%
EL	F	0.18%
PRU	A	0.18%
DOCU	A	0.18%
DD	D	0.18%
MTD	D	0.18%
FFIV	B	0.17%
NRG	B	0.17%
CACI	D	0.16%
OTIS	C	0.16%
GWRE	A	0.16%
SYY	B	0.16%
JNPR	F	0.16%
GIS	D	0.16%
HUM	C	0.15%
RARE	D	0.15%
CORT	B	0.15%
ILMN	D	0.15%
BAH	F	0.15%
LYV	A	0.15%
ALKS	B	0.14%
DUOL	A	0.14%
EXPE	B	0.14%
BURL	A	0.14%
NI	A	0.14%
AXSM	B	0.14%
XYL	D	0.14%
CNC	D	0.13%
HIG	B	0.13%
CLX	B	0.13%
DOV	A	0.12%
K	A	0.12%
FOLD	F	0.12%
TER	D	0.12%
APLS	D	0.12%
MTCH	D	0.12%
BRO	B	0.12%
TW	A	0.11%
GTLB	B	0.11%
TGTX	B	0.11%
IOVA	F	0.11%
RL	B	0.11%
NYT	C	0.11%
LII	A	0.11%
PCOR	B	0.11%
DKNG	B	0.1%
APPF	B	0.1%
AMED	F	0.1%
ACI	C	0.1%
TXT	D	0.1%
GPC	D	0.1%
DNLI	D	0.1%
APTV	D	0.1%
CHWY	B	0.09%
DYN	F	0.09%
WING	D	0.08%
DLB	B	0.04%
LNW	D	0.04%

NXTI Underweight 78 Positions Relative to QUAL

Symbol	Grade	Weight
NVDA	C	-6.93%
AAPL	C	-5.44%
MSFT	F	-4.5%
V	A	-4.5%
LLY	F	-3.42%
COST	B	-2.55%
JNJ	D	-2.15%
TJX	A	-2.03%
GOOGL	C	-1.77%
NFLX	A	-1.76%
ADP	B	-1.75%
COP	C	-1.73%
ACN	C	-1.67%
GOOG	C	-1.55%
CAT	B	-1.4%
TXN	C	-1.34%
CMG	B	-1.26%
QCOM	F	-1.15%
LIN	D	-1.14%
LMT	D	-1.08%
BLK	C	-0.99%
SRE	A	-0.93%
SLB	C	-0.89%
KLAC	D	-0.77%
ANET	C	-0.73%
PLD	D	-0.71%
DHI	D	-0.7%
PEG	A	-0.69%
LULU	C	-0.66%
VRTX	F	-0.62%
TPL	A	-0.58%
PSA	D	-0.55%
MCO	B	-0.53%
CME	A	-0.52%
NVR	D	-0.52%
ZTS	D	-0.51%
APH	A	-0.5%
GRMN	B	-0.48%
PHM	D	-0.43%
ATO	A	-0.4%
APD	A	-0.35%
ODFL	B	-0.34%
FERG	B	-0.28%
CSGP	D	-0.26%
AVB	B	-0.24%
EW	C	-0.24%
ROK	B	-0.22%
POOL	C	-0.22%
EQT	B	-0.22%
APA	D	-0.19%
TROW	B	-0.19%
MPWR	F	-0.18%
EQR	B	-0.18%
EME	C	-0.17%
RMD	C	-0.17%
LPLA	A	-0.17%
VEEV	C	-0.16%
CBOE	B	-0.14%
WSO	A	-0.12%
WST	C	-0.12%
FDS	B	-0.12%
GGG	B	-0.11%
OMC	C	-0.1%
PKG	A	-0.1%
ERIE	D	-0.09%
MOH	F	-0.09%
JKHY	D	-0.09%
PAYC	B	-0.08%
UTHR	C	-0.08%
SEIC	B	-0.07%
MKTX	D	-0.07%
ENPH	F	-0.06%
SMCI	F	-0.06%
AOS	F	-0.06%
AFG	A	-0.06%
SOLV	C	-0.05%
IPG	D	-0.05%
WBA	F	-0.03%