QUAL vs. FLSP ETF Comparison

Comparison of iShares MSCI USA Quality Factor ETF (QUAL) to Franklin Liberty Systematic Style Premia ETF (FLSP)

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

FLSP

Franklin Liberty Systematic Style Premia ETF

FLSP Description

The investment seeks absolute return. The fund seeks to achieve its investment goal by allocating its assets across two underlying alternative investment strategies, which represent top-down and bottom-up approaches to capturing factor-based risk premia. Through the two strategies, it may invest in or obtain exposure to: (i) equity securities (which may include common stocks and preferred stocks), (ii) debt securities (which may include bonds, notes, debentures, banker's acceptances and commercial paper), (iii) commodity-linked derivative instruments and (iv) currency-related derivative instruments.

Grade (RS Rating)

Last Trade

$24.11

Average Daily Volume

11,449

Number of Holdings ^*

183

* may have additional holdings in another (foreign) market

Performance

Period	QUAL	FLSP
30 Days	1.61%	0.69%
60 Days	2.39%	0.06%
90 Days	3.34%	0.73%
12 Months	30.86%	6.54%

43 Overlapping Holdings

Symbol	Grade	Weight in QUAL	Weight in FLSP	Overlap
A	D	0.2%	0.23%	0.2%
ADBE	C	1.76%	0.91%	0.91%
AFL	B	0.42%	0.33%	0.33%
AMAT	F	1.17%	0.66%	0.66%
AMP	A	0.33%	0.22%	0.22%
APH	A	0.5%	0.18%	0.18%
AVB	B	0.24%	0.13%	0.13%
BBY	D	0.29%	0.11%	0.11%
CBOE	B	0.14%	0.12%	0.12%
CDNS	B	0.58%	0.32%	0.32%
CTAS	B	0.6%	0.35%	0.35%
DECK	A	0.49%	0.16%	0.16%
EA	A	0.2%	0.23%	0.2%
EXPD	D	0.12%	0.09%	0.09%
GOOG	C	1.55%	0.11%	0.11%
IDXX	F	0.3%	0.14%	0.14%
LIN	D	1.14%	0.13%	0.13%
LULU	C	0.66%	0.16%	0.16%
MA	C	4.22%	0.77%	0.77%
MANH	D	0.2%	0.09%	0.09%
META	D	4.09%	0.45%	0.45%
MKTX	D	0.07%	0.06%	0.06%
MMM	D	0.5%	0.41%	0.41%
MOH	F	0.09%	0.1%	0.09%
MSFT	F	4.5%	0.57%	0.57%
NFLX	A	1.76%	0.45%	0.45%
NTAP	C	0.21%	0.16%	0.16%
NVDA	C	6.93%	0.62%	0.62%
PAYC	B	0.08%	0.07%	0.07%
PHM	D	0.43%	0.11%	0.11%
PKG	A	0.1%	0.11%	0.1%
QCOM	F	1.15%	0.83%	0.83%
ROL	B	0.12%	0.09%	0.09%
RS	B	0.09%	0.1%	0.09%
SEIC	B	0.07%	0.06%	0.06%
SNPS	B	0.51%	0.2%	0.2%
TJX	A	2.03%	0.75%	0.75%
TROW	B	0.19%	0.16%	0.16%
UTHR	C	0.08%	0.1%	0.08%
VEEV	C	0.16%	0.12%	0.12%
VRTX	F	0.62%	0.49%	0.49%
WAT	B	0.13%	0.14%	0.13%
WSM	B	0.29%	0.11%	0.11%

QUAL Overweight 80 Positions Relative to FLSP

Symbol	Grade	Weight
AAPL	C	5.44%
V	A	4.5%
LLY	F	3.42%
UNH	C	2.81%
COST	B	2.55%
JNJ	D	2.15%
GOOGL	C	1.77%
ADP	B	1.75%
CSCO	B	1.74%
COP	C	1.73%
ACN	C	1.67%
KO	D	1.43%
NKE	D	1.41%
CAT	B	1.4%
TXN	C	1.34%
CMG	B	1.26%
PEP	F	1.1%
LMT	D	1.08%
BLK	C	0.99%
SRE	A	0.93%
SLB	C	0.89%
KLAC	D	0.77%
MMC	B	0.74%
ANET	C	0.73%
ITW	B	0.73%
LRCX	F	0.73%
PLD	D	0.71%
DHI	D	0.7%
PEG	A	0.69%
GWW	B	0.59%
TPL	A	0.58%
SHW	A	0.57%
PSA	D	0.55%
MCO	B	0.53%
CME	A	0.52%
NVR	D	0.52%
ZTS	D	0.51%
ED	D	0.5%
PAYX	C	0.49%
GRMN	B	0.48%
TSCO	D	0.43%
FAST	B	0.42%
ATO	A	0.4%
APD	A	0.35%
CBRE	B	0.35%
ODFL	B	0.34%
ULTA	F	0.31%
FERG	B	0.28%
ACGL	D	0.26%
CSGP	D	0.26%
EW	C	0.24%
ROK	B	0.22%
POOL	C	0.22%
EQT	B	0.22%
VLTO	D	0.21%
MNST	C	0.21%
APA	D	0.19%
MPWR	F	0.18%
EQR	B	0.18%
EME	C	0.17%
RMD	C	0.17%
LPLA	A	0.17%
PPG	F	0.15%
HSY	F	0.15%
KEYS	A	0.15%
WSO	A	0.12%
WST	C	0.12%
FDS	B	0.12%
GGG	B	0.11%
OMC	C	0.1%
ERIE	D	0.09%
JKHY	D	0.09%
AVY	D	0.08%
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%

QUAL Underweight 140 Positions Relative to FLSP

Symbol	Grade	Weight
BKNG	A	-0.87%
WMT	A	-0.75%
NOW	A	-0.75%
CRM	B	-0.7%
INTU	C	-0.68%
T	A	-0.63%
GILD	C	-0.61%
MDT	D	-0.6%
ABBV	D	-0.59%
BMY	B	-0.59%
UBER	D	-0.49%
NVS	D	-0.48%
MSI	B	-0.48%
PYPL	B	-0.45%
EOG	A	-0.44%
CMCSA	B	-0.42%
ADSK	A	-0.36%
HCA	F	-0.36%
GM	B	-0.36%
CL	D	-0.36%
SPG	B	-0.35%
RTX	C	-0.34%
TMO	F	-0.34%
FICO	B	-0.34%
REGN	F	-0.33%
FTNT	C	-0.32%
APP	B	-0.31%
CSX	B	-0.31%
BK	A	-0.31%
VST	B	-0.29%
LNG	B	-0.29%
HD	A	-0.28%
MPC	D	-0.27%
FDX	B	-0.27%
FIS	C	-0.26%
CMI	A	-0.25%
VLO	C	-0.25%
KR	B	-0.24%
KMB	D	-0.23%
PH	A	-0.23%
PSX	C	-0.23%
BCS	C	-0.23%
CI	F	-0.22%
CPRT	A	-0.22%
RCL	A	-0.21%
MET	A	-0.21%
AIG	B	-0.21%
CTSH	B	-0.21%
HPQ	B	-0.2%
VICI	C	-0.19%
TGT	F	-0.19%
HIG	B	-0.19%
EBAY	D	-0.18%
SE	B	-0.18%
IQV	D	-0.17%
STT	A	-0.17%
ADM	D	-0.16%
IR	B	-0.16%
MELI	D	-0.16%
GDDY	A	-0.15%
MS	A	-0.15%
SYY	B	-0.15%
MTD	D	-0.15%
ANSS	B	-0.14%
PCAR	B	-0.14%
EXPE	B	-0.14%
NUE	C	-0.14%
AWK	D	-0.13%
CNC	D	-0.13%
DVN	F	-0.13%
LDOS	C	-0.13%
PG	A	-0.13%
TYL	B	-0.13%
K	A	-0.12%
VTR	C	-0.12%
CAH	B	-0.12%
NRG	B	-0.12%
CPAY	A	-0.12%
NTRS	A	-0.12%
LYV	A	-0.12%
BR	A	-0.12%
CSL	C	-0.11%
STX	D	-0.11%
HOLX	D	-0.11%
LII	A	-0.11%
STLD	B	-0.11%
LVS	C	-0.11%
LYB	F	-0.11%
MRO	B	-0.1%
EL	F	-0.1%
JBL	B	-0.1%
MAS	D	-0.1%
CF	B	-0.1%
VRSN	F	-0.1%
BLDR	D	-0.1%
PTC	A	-0.1%
DOCU	A	-0.1%
SNA	A	-0.1%
FE	C	-0.1%
ZM	B	-0.1%
GEN	B	-0.1%
UDR	B	-0.09%
L	A	-0.09%
TWLO	A	-0.09%
VTRS	A	-0.09%
EQH	B	-0.09%
SSNC	B	-0.09%
TXT	D	-0.09%
OC	A	-0.09%
AVTR	F	-0.08%
DT	C	-0.08%
OVV	B	-0.08%
CHRW	C	-0.08%
FFIV	B	-0.08%
REG	B	-0.08%
SWKS	F	-0.08%
DPZ	C	-0.08%
NBIX	C	-0.08%
FOXA	B	-0.07%
TAP	C	-0.07%
DKS	C	-0.07%
INCY	C	-0.07%
BG	F	-0.07%
GLPI	C	-0.07%
UHS	D	-0.07%
ACI	C	-0.06%
MTCH	D	-0.06%
CHKP	D	-0.06%
TER	D	-0.06%
RPRX	D	-0.06%
AIZ	A	-0.06%
RPM	A	-0.05%
AER	B	-0.05%
WYNN	D	-0.05%
MGM	D	-0.05%
MOS	F	-0.05%
CRBG	B	-0.05%
ON	D	-0.04%
COR	B	-0.04%
HII	D	-0.04%