QUS vs. IMCV ETF Comparison

Comparison of SPDR MSCI USA Quality Mix ETF (QUS) to iShares Morningstar Mid-Cap Value ETF (IMCV)

QUS

SPDR MSCI USA Quality Mix ETF

QUS Description

The investment seeks to track the performance of the MSCI USA Quality Mix A-Series Index. The fund invests at least 80%, of its total assets in the securities comprising the index. The index is designed to measure the equity market performance of large-and mid-cap companies across the U.S. equity market. It aims to represent the performance of a combination of three factors: value, quality, and low volatility. It is an equal weighted combination of the following three MSCI Factor Indices in a single composite index: the MSCI USA Value Weighted Index, the MSCI USA Quality Index, and the MSCI USA Minimum Volatility Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$156.26

Average Daily Volume

23,407

Number of Holdings ^*

579

* may have additional holdings in another (foreign) market

IMCV

iShares Morningstar Mid-Cap Value ETF

IMCV Description

The investment seeks to track the investment results of the Morningstar® US Mid Cap Broad Value IndexSM 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. The underlying index measures the performance of stocks issued by mid-capitalization companies that have exhibited “value” characteristics as determined by Morningstar, Inc. (Morningstar or the index providerâ) proprietary index methodology.

Grade (RS Rating)

Last Trade

$76.42

Average Daily Volume

20,014

Number of Holdings ^*

303

* may have additional holdings in another (foreign) market

Performance

Period	QUS	IMCV
30 Days	2.08%	4.21%
60 Days	4.77%	5.29%
90 Days	6.12%	8.97%
12 Months	28.73%	24.05%

275 Overlapping Holdings

	Symbol	Grade	Weight in QUS	Weight in IMCV	Overlap
	ACGL	C	0.42%	0.53%	0.42%
	ACI	F	0.03%	0.14%	0.03%
	ACM	B	0.01%	0.1%	0.01%
	ADM	D	0.09%	0.56%	0.09%
	AEE	C	0.1%	0.42%	0.1%
	AEP	C	0.21%	1.02%	0.21%
	AES	C	0.02%	0.25%	0.02%
	AFG	B	0.15%	0.12%	0.12%
	AFL	C	0.21%	1.05%	0.21%
	AIG	D	0.12%	0.91%	0.12%
	AKAM	D	0.17%	0.15%	0.15%
	ALB	D	0.02%	0.09%	0.02%
	ALGN	D	0.01%	0.12%	0.01%
	ALL	B	0.06%	0.54%	0.06%
	ALLE	B	0.04%	0.1%	0.04%
	ALLY	F	0.02%	0.17%	0.02%
	AMCR	B	0.02%	0.3%	0.02%
	AMP	A	0.03%	0.27%	0.03%
	AOS	D	0.03%	0.05%	0.03%
	APA	F	0.05%	0.17%	0.05%
	APTV	D	0.03%	0.16%	0.03%
	ARE	C	0.02%	0.25%	0.02%
	ATO	B	0.04%	0.39%	0.04%
	AVB	B	0.02%	0.32%	0.02%
	AVTR	B	0.01%	0.14%	0.01%
	AVY	C	0.01%	0.16%	0.01%
	AWK	B	0.02%	0.27%	0.02%
	BAH	C	0.21%	0.09%	0.09%
	BALL	C	0.02%	0.17%	0.02%
	BAX	C	0.03%	0.38%	0.03%
	BBY	C	0.1%	0.36%	0.1%
	BEN	F	0.01%	0.11%	0.01%
	BG	D	0.05%	0.26%	0.05%
	BIIB	F	0.03%	0.53%	0.03%
	BK	B	0.08%	0.96%	0.08%
	BKR	C	0.03%	0.32%	0.03%
	BLDR	C	0.08%	0.22%	0.08%
	BXP	B	0.02%	0.24%	0.02%
	CAG	C	0.02%	0.29%	0.02%
	CAH	C	0.12%	0.51%	0.12%
	CARR	B	0.04%	0.5%	0.04%
	CBRE	A	0.04%	0.26%	0.04%
	CCI	C	0.03%	0.96%	0.03%
	CCK	A	0.02%	0.13%	0.02%
	CCL	C	0.01%	0.32%	0.01%
	CE	F	0.02%	0.11%	0.02%
	CF	C	0.03%	0.27%	0.03%
	CFG	C	0.06%	0.34%	0.06%
	CG	D	0.01%	0.16%	0.01%
	CHK	D	0.03%	0.14%	0.03%
	CHTR	D	0.08%	0.63%	0.08%
	CINF	B	0.03%	0.24%	0.03%
	CLX	C	0.01%	0.14%	0.01%
	CMI	C	0.14%	0.25%	0.14%
	CMS	C	0.09%	0.25%	0.09%
	CNC	D	0.11%	0.75%	0.11%
	CNH	D	0.02%	0.18%	0.02%
	CNP	C	0.02%	0.33%	0.02%
	COF	B	0.13%	0.99%	0.13%
	CPAY	B	0.01%	0.1%	0.01%
	CPB	C	0.14%	0.19%	0.14%
	CPT	B	0.01%	0.14%	0.01%
	CRL	F	0.01%	0.07%	0.01%
	CTRA	D	0.03%	0.19%	0.03%
	CTSH	C	0.4%	0.72%	0.4%
	CTVA	B	0.17%	0.41%	0.17%
	D	C	0.14%	0.51%	0.14%
	DAL	C	0.01%	0.3%	0.01%
	DD	B	0.04%	0.34%	0.04%
	DELL	D	0.05%	0.32%	0.05%
	DFS	B	0.06%	0.27%	0.06%
	DG	F	0.02%	0.35%	0.02%
	DGX	B	0.06%	0.32%	0.06%
	DHI	B	0.23%	1.11%	0.23%
	DINO	F	0.03%	0.14%	0.03%
	DKNG	C	0.0%	0.15%	0.0%
	DKS	D	0.02%	0.13%	0.02%
	DLR	B	0.03%	0.26%	0.03%
	DLTR	F	0.02%	0.15%	0.02%
	DOC	C	0.01%	0.3%	0.01%
	DOV	B	0.02%	0.14%	0.02%
	DOW	D	0.07%	0.38%	0.07%
	DRI	B	0.01%	0.18%	0.01%
	DTE	C	0.1%	0.49%	0.1%
	DVA	B	0.01%	0.08%	0.01%
	DVN	F	0.04%	0.47%	0.04%
	EA	D	0.29%	0.19%	0.19%
	EBAY	B	0.02%	0.38%	0.02%
	ED	C	0.46%	0.67%	0.46%
	EG	C	0.18%	0.31%	0.18%
	EIX	C	0.05%	0.61%	0.05%
	ELS	C	0.0%	0.1%	0.0%
	EMN	B	0.02%	0.23%	0.02%
	ENTG	F	0.01%	0.12%	0.01%
	EPAM	F	0.04%	0.1%	0.04%
	EQH	C	0.02%	0.23%	0.02%
	EQR	B	0.02%	0.3%	0.02%
	EQT	D	0.02%	0.12%	0.02%
	ES	C	0.03%	0.44%	0.03%
	ESS	B	0.01%	0.2%	0.01%
	ETR	B	0.04%	0.5%	0.04%
	EVRG	B	0.02%	0.26%	0.02%
	EXC	C	0.06%	0.75%	0.06%
	EXPD	C	0.07%	0.32%	0.07%
	EXPE	C	0.01%	0.16%	0.01%
	EXR	B	0.03%	0.45%	0.03%
	F	F	0.16%	0.79%	0.16%
	FANG	D	0.22%	0.56%	0.22%
	FE	C	0.03%	0.42%	0.03%
	FFIV	B	0.21%	0.13%	0.13%
	FIS	B	0.03%	0.88%	0.03%
	FITB	B	0.06%	0.54%	0.06%
	FNF	B	0.02%	0.3%	0.02%
	FOX	B	0.01%	0.09%	0.01%
	FOXA	B	0.02%	0.17%	0.02%
	FTV	C	0.02%	0.14%	0.02%
	GEHC	C	0.03%	0.35%	0.03%
	GEV	B	0.03%	0.56%	0.03%
	GIS	B	0.3%	0.78%	0.3%
	GLPI	C	0.01%	0.25%	0.01%
	GLW	C	0.13%	0.61%	0.13%
	GM	C	0.27%	0.99%	0.27%
	GPC	D	0.02%	0.21%	0.02%
	GPN	D	0.04%	0.32%	0.04%
	GRMN	D	0.17%	0.17%	0.17%
	HAL	F	0.03%	0.21%	0.03%
	HBAN	B	0.05%	0.39%	0.05%
	HIG	B	0.09%	0.64%	0.09%
	HII	D	0.01%	0.08%	0.01%
	HOLX	B	0.08%	0.35%	0.08%
	HPE	D	0.05%	0.42%	0.05%
	HPQ	D	0.06%	0.61%	0.06%
	HRL	C	0.09%	0.12%	0.09%
	HST	C	0.01%	0.23%	0.01%
	HSY	C	0.22%	0.25%	0.22%
	HUM	F	0.23%	0.72%	0.23%
	IFF	B	0.02%	0.5%	0.02%
	INCY	C	0.17%	0.09%	0.09%
	IP	B	0.03%	0.31%	0.03%
	IPG	C	0.02%	0.22%	0.02%
	IQV	C	0.03%	0.29%	0.03%
	IRM	C	0.01%	0.32%	0.01%
	J	C	0.02%	0.11%	0.02%
	JBHT	D	0.05%	0.1%	0.05%
	JBL	D	0.02%	0.1%	0.02%
	JCI	B	0.04%	0.38%	0.04%
	JNPR	B	0.18%	0.23%	0.18%
	K	B	0.3%	0.4%	0.3%
	KDP	B	0.28%	0.49%	0.28%
	KEY	B	0.04%	0.28%	0.04%
	KEYS	C	0.27%	0.27%	0.27%
	KHC	C	0.21%	0.59%	0.21%
	KIM	C	0.02%	0.08%	0.02%
	KMB	D	0.11%	0.58%	0.11%
	KMI	B	0.05%	0.78%	0.05%
	KMX	D	0.03%	0.11%	0.03%
	KR	C	0.31%	0.71%	0.31%
	KVUE	C	0.04%	0.76%	0.04%
	L	C	0.12%	0.27%	0.12%
	LDOS	B	0.02%	0.23%	0.02%
	LEN	B	0.07%	0.83%	0.07%
	LEN	B	0.07%	0.03%	0.03%
	LHX	C	0.04%	0.81%	0.04%
	LKQ	F	0.02%	0.2%	0.02%
	LNG	C	0.05%	0.53%	0.05%
	LNT	B	0.05%	0.28%	0.05%
	LUV	C	0.01%	0.18%	0.01%
	LYB	D	0.05%	0.45%	0.05%
	MAA	B	0.01%	0.23%	0.01%
	MAS	B	0.01%	0.19%	0.01%
	MCHP	F	0.12%	0.44%	0.12%
	MGM	F	0.01%	0.09%	0.01%
	MKC	C	0.01%	0.18%	0.01%
	MKL	C	0.14%	0.14%	0.14%
	MOH	D	0.16%	0.17%	0.16%
	MOS	F	0.03%	0.16%	0.03%
	MRNA	F	0.02%	0.24%	0.02%
	MRO	C	0.03%	0.28%	0.03%
	MSTR	D	0.0%	0.16%	0.0%
	MTB	B	0.07%	0.53%	0.07%
	NDAQ	A	0.02%	0.32%	0.02%
	NEM	B	0.25%	0.5%	0.25%
	NI	B	0.02%	0.28%	0.02%
	NRG	C	0.02%	0.21%	0.02%
	NSC	C	0.05%	1.04%	0.05%
	NTAP	D	0.16%	0.22%	0.16%
	NTRS	A	0.03%	0.34%	0.03%
	NUE	F	0.07%	0.64%	0.07%
	NVR	B	0.11%	0.53%	0.11%
	NWSA	D	0.01%	0.19%	0.01%
	O	C	0.05%	0.68%	0.05%
	OC	D	0.02%	0.27%	0.02%
	OKE	B	0.05%	1.0%	0.05%
	OMC	B	0.07%	0.37%	0.07%
	ON	D	0.03%	0.37%	0.03%
	OTIS	C	0.04%	0.28%	0.04%
	OVV	F	0.03%	0.19%	0.03%
	PCAR	D	0.05%	0.92%	0.05%
	PCG	C	0.06%	0.46%	0.06%
	PEG	B	0.04%	0.78%	0.04%
	PFG	B	0.03%	0.36%	0.03%
	PHM	B	0.12%	0.31%	0.12%
	PINS	F	0.0%	0.14%	0.0%
	PKG	B	0.08%	0.35%	0.08%
	PNR	B	0.01%	0.08%	0.01%
	POOL	C	0.04%	0.13%	0.04%
	PPG	D	0.03%	0.34%	0.03%
	PPL	C	0.03%	0.45%	0.03%
	PRU	C	0.08%	0.79%	0.08%
	PSA	B	0.16%	0.55%	0.16%
	QRVO	F	0.01%	0.08%	0.01%
	RCL	B	0.01%	0.23%	0.01%
	REG	C	0.01%	0.14%	0.01%
	RF	B	0.05%	0.38%	0.05%
	RJF	C	0.03%	0.17%	0.03%
	RPM	B	0.01%	0.1%	0.01%
	RPRX	C	0.01%	0.21%	0.01%
	RS	D	0.02%	0.3%	0.02%
	SJM	C	0.02%	0.24%	0.02%
	SNA	C	0.05%	0.18%	0.05%
	SOLV	C	0.06%	0.18%	0.06%
	SPG	B	0.03%	0.94%	0.03%
	SRE	C	0.06%	0.98%	0.06%
	SSNC	B	0.02%	0.3%	0.02%
	STLD	F	0.03%	0.31%	0.03%
	STT	A	0.05%	0.47%	0.05%
	STX	C	0.07%	0.39%	0.07%
	STZ	D	0.02%	0.35%	0.02%
	SW	B	0.02%	0.42%	0.02%
	SWK	B	0.03%	0.15%	0.03%
	SWKS	D	0.06%	0.31%	0.06%
	SYF	C	0.05%	0.36%	0.05%
	TAP	D	0.02%	0.18%	0.02%
	TDY	B	0.2%	0.17%	0.17%
	TEL	D	0.17%	0.39%	0.17%
	TER	D	0.06%	0.2%	0.06%
	TFC	C	0.14%	1.04%	0.14%
	TFX	C	0.01%	0.13%	0.01%
	TRGP	B	0.02%	0.36%	0.02%
	TRMB	C	0.01%	0.09%	0.01%
	TROW	D	0.08%	0.43%	0.08%
	TRV	C	0.44%	0.58%	0.44%
	TSCO	C	0.09%	0.16%	0.09%
	TSN	C	0.29%	0.16%	0.16%
	TXT	D	0.02%	0.16%	0.02%
	UDR	C	0.01%	0.1%	0.01%
	UHAL	A	0.01%	0.01%	0.01%
	UHAL	A	0.01%	0.07%	0.01%
	UHS	B	0.02%	0.14%	0.02%
	ULTA	D	0.08%	0.17%	0.08%
	URI	B	0.04%	0.48%	0.04%
	UTHR	C	0.1%	0.24%	0.1%
	VICI	C	0.04%	0.66%	0.04%
	VLO	F	0.14%	0.82%	0.14%
	VLTO	C	0.09%	0.2%	0.09%
	VST	C	0.01%	0.2%	0.01%
	VTR	C	0.02%	0.32%	0.02%
	VTRS	D	0.05%	0.26%	0.05%
	WAT	C	0.06%	0.13%	0.06%
	WBA	F	0.07%	0.12%	0.07%
	WBD	D	0.11%	0.35%	0.11%
	WDC	D	0.02%	0.39%	0.02%
	WEC	C	0.29%	0.56%	0.29%
	WLK	D	0.01%	0.05%	0.01%
	WMB	B	0.12%	1.02%	0.12%
	WPC	C	0.01%	0.26%	0.01%
	WRB	C	0.12%	0.14%	0.12%
	WSM	D	0.06%	0.12%	0.06%
	WTRG	D	0.01%	0.12%	0.01%
	WTW	C	0.15%	0.28%	0.15%
	WY	C	0.03%	0.44%	0.03%
	XEL	B	0.19%	0.66%	0.19%
	ZBH	F	0.02%	0.2%	0.02%
	ZBRA	B	0.01%	0.08%	0.01%
	ZM	C	0.01%	0.3%	0.01%

QUS Overweight 306 Positions Relative to IMCV

	Symbol	Grade	Weight
	AAPL	C	3.27%
	MSFT	C	2.86%
	LLY	C	2.43%
	NVDA	D	2.36%
	UNH	C	2.27%
	META	B	2.24%
	JNJ	C	1.8%
	V	C	1.8%
	MA	B	1.63%
	COST	B	1.35%
	CSCO	C	1.19%
	ACN	C	1.19%
	PEP	C	1.15%
	GOOGL	D	1.12%
	BRK.A	C	1.07%
	TXN	C	1.07%
	GOOG	D	1.04%
	KO	C	0.96%
	WMT	C	0.92%
	JPM	D	0.9%
	VZ	B	0.88%
	LMT	C	0.79%
	ADBE	F	0.78%
	XOM	C	0.77%
	IBM	B	0.72%
	MMC	C	0.72%
	TMUS	C	0.69%
	T	C	0.67%
	APH	D	0.66%
	PGR	B	0.66%
	CB	B	0.66%
	DUK	C	0.64%
	AMZN	C	0.64%
	PG	C	0.62%
	VRTX	D	0.61%
	AVGO	C	0.6%
	BAC	D	0.59%
	NOC	B	0.59%
	ABBV	C	0.59%
	CAT	B	0.58%
	QCOM	D	0.58%
	MSI	B	0.58%
	TJX	B	0.57%
	SO	B	0.56%
	MRK	D	0.56%
	AMAT	D	0.55%
	WCN	D	0.55%
	RSG	D	0.54%
	MCK	F	0.53%
	MCD	B	0.52%
	WM	D	0.51%
	ADP	B	0.51%
	CVX	D	0.49%
	ROP	C	0.48%
	HON	D	0.48%
	ORCL	C	0.48%
	AJG	D	0.47%
	ELV	C	0.41%
	GILD	B	0.41%
	REGN	C	0.4%
	CMCSA	D	0.4%
	BLK	B	0.4%
	PFE	C	0.39%
	ANET	B	0.38%
	C	C	0.38%
	AZO	D	0.37%
	WFC	D	0.36%
	KLAC	D	0.36%
	LRCX	F	0.34%
	MPC	F	0.34%
	AMGN	B	0.33%
	HD	B	0.33%
	CVS	D	0.32%
	BMY	C	0.31%
	CBOE	C	0.31%
	NKE	D	0.3%
	GDDY	C	0.29%
	FCNCA	D	0.29%
	PANW	D	0.29%
	MMM	B	0.29%
	CDNS	D	0.27%
	ZTS	C	0.27%
	CI	C	0.27%
	BDX	D	0.26%
	MDLZ	B	0.26%
	ITW	C	0.26%
	SHW	B	0.26%
	SNPS	D	0.26%
	ORLY	C	0.25%
	CDW	D	0.25%
	GS	C	0.25%
	TT	B	0.24%
	NOW	B	0.24%
	VRSN	D	0.23%
	CTAS	B	0.23%
	CMG	C	0.22%
	ERIE	B	0.22%
	CME	C	0.22%
	MCO	B	0.21%
	AON	B	0.2%
	TSLA	C	0.2%
	RTX	C	0.19%
	YUM	D	0.19%
	CL	D	0.19%
	UBER	C	0.18%
	LIN	B	0.17%
	PTC	D	0.17%
	GWW	B	0.17%
	FICO	B	0.17%
	ROL	C	0.17%
	MDT	C	0.16%
	COP	D	0.16%
	PAYX	C	0.16%
	ABT	C	0.16%
	INTC	F	0.15%
	PNC	B	0.15%
	VRSK	D	0.15%
	USB	B	0.15%
	IDXX	C	0.15%
	ICE	C	0.15%
	WDAY	D	0.15%
	ADI	C	0.15%
	MS	D	0.15%
	CHD	D	0.14%
	DIS	D	0.14%
	EOG	D	0.14%
	ADSK	C	0.14%
	PSX	F	0.14%
	TMO	B	0.13%
	CPRT	D	0.13%
	EW	F	0.13%
	IT	B	0.13%
	FAST	C	0.13%
	MNST	D	0.12%
	NBIX	F	0.12%
	NFLX	B	0.12%
	A	C	0.12%
	FDX	C	0.12%
	MPWR	C	0.12%
	LOW	B	0.12%
	ODFL	D	0.12%
	DE	B	0.11%
	NEE	C	0.11%
	BMRN	F	0.11%
	UPS	D	0.11%
	GE	B	0.11%
	AIZ	B	0.11%
	PM	C	0.11%
	ROK	D	0.1%
	AXP	B	0.1%
	RMD	C	0.1%
	TGT	C	0.1%
	OXY	F	0.1%
	DHR	B	0.1%
	LULU	D	0.1%
	UNP	C	0.09%
	VEEV	C	0.09%
	PLD	C	0.09%
	CRM	D	0.09%
	GD	B	0.08%
	DECK	C	0.08%
	MET	B	0.08%
	MELI	B	0.08%
	ALNY	C	0.08%
	MU	F	0.07%
	MANH	B	0.07%
	SPGI	B	0.07%
	HCA	B	0.07%
	AMD	D	0.07%
	SCHW	D	0.06%
	HUBS	D	0.06%
	EME	B	0.06%
	SBUX	C	0.06%
	HUBB	B	0.06%
	WST	D	0.06%
	MO	C	0.06%
	DPZ	F	0.06%
	PYPL	B	0.06%
	TW	B	0.06%
	SMCI	F	0.06%
	AMT	C	0.05%
	ENPH	D	0.05%
	FDS	C	0.05%
	SYY	D	0.05%
	SLB	F	0.05%
	LPLA	D	0.05%
	CRWD	D	0.05%
	CSX	D	0.05%
	SYK	C	0.05%
	WSO	C	0.05%
	TPL	B	0.05%
	KKR	B	0.04%
	INTU	C	0.04%
	KNX	C	0.04%
	JKHY	B	0.04%
	BX	B	0.04%
	BSX	B	0.04%
	EMR	D	0.04%
	APD	B	0.04%
	FCX	D	0.04%
	IEX	D	0.04%
	ETN	C	0.04%
	GGG	C	0.04%
	ECL	B	0.03%
	SEIC	C	0.03%
	BA	F	0.03%
	BR	D	0.03%
	LW	D	0.03%
	CEG	C	0.03%
	PAYC	D	0.03%
	PARA	F	0.03%
	TTC	D	0.03%
	MKTX	C	0.03%
	NXPI	F	0.03%
	BKNG	C	0.03%
	ROST	C	0.03%
	ISRG	B	0.03%
	PH	B	0.03%
	WELL	C	0.03%
	FSLR	C	0.03%
	ABNB	D	0.02%
	XYL	C	0.02%
	CHRD	F	0.02%
	IR	C	0.02%
	MLM	D	0.02%
	MAR	C	0.02%
	EFX	B	0.02%
	MRVL	C	0.02%
	PWR	B	0.02%
	CRBG	D	0.02%
	WAB	B	0.02%
	HES	F	0.02%
	APO	C	0.02%
	CHRW	B	0.02%
	AME	C	0.02%
	SQ	D	0.02%
	EQIX	C	0.02%
	VRT	C	0.01%
	LYV	B	0.01%
	BBWI	F	0.01%
	Z	B	0.01%
	TYL	C	0.01%
	APP	C	0.01%
	LVS	D	0.01%
	BIO	C	0.01%
	MTCH	C	0.01%
	LII	B	0.01%
	NDSN	C	0.01%
	COIN	F	0.01%
	ARES	B	0.01%
	DASH	C	0.01%
	MTD	D	0.01%
	ILMN	C	0.01%
	RIVN	F	0.01%
	TWLO	D	0.01%
	SBAC	C	0.01%
	MSCI	C	0.01%
	ANSS	D	0.01%
	CTLT	B	0.01%
	AMH	C	0.01%
	CSGP	D	0.01%
	FTNT	C	0.01%
	CSL	B	0.01%
	HLT	B	0.01%
	TDG	B	0.01%
	TRU	B	0.01%
	TTWO	C	0.01%
	HWM	B	0.01%
	HSIC	C	0.01%
	BRO	C	0.01%
	EL	F	0.01%
	BURL	B	0.01%
	SUI	B	0.01%
	STE	C	0.01%
	INVH	C	0.01%
	VMC	D	0.01%
	CELH	F	0.0%
	TEAM	D	0.0%
	ZS	F	0.0%
	IOT	B	0.0%
	NET	D	0.0%
	TOST	C	0.0%
	RBLX	B	0.0%
	MDB	D	0.0%
	DDOG	D	0.0%
	BSY	D	0.0%
	PSTG	F	0.0%
	SNAP	F	0.0%
	DOCU	C	0.0%
	H	C	0.0%
	WYNN	D	0.0%
	DT	C	0.0%
	DAY	D	0.0%
	PODD	B	0.0%
	SNOW	F	0.0%
	AXON	B	0.0%
	HEI	B	0.0%
	DXCM	F	0.0%
	ROKU	C	0.0%
	HOOD	C	0.0%
	HEI	B	0.0%
	EXAS	C	0.0%
	PLTR	B	0.0%
	TTD	B	0.0%
	OKTA	F	0.0%
	TECH	C	0.0%

QUS Underweight 28 Positions Relative to IMCV

	Symbol	Grade	Weight
	FERG	D	-0.73%
	COR	D	-0.36%
	LH	C	-0.35%
	UAL	C	-0.31%
	THC	A	-0.3%
	RGA	C	-0.26%
	RNR	C	-0.25%
	CPNG	B	-0.19%
	UNM	B	-0.18%
	TOL	B	-0.18%
	RVTY	B	-0.16%
	AR	F	-0.15%
	FLEX	C	-0.15%
	GEN	B	-0.14%
	USFD	B	-0.13%
	COO	B	-0.12%
	SNX	D	-0.11%
	SIRI	C	-0.11%
	BLD	D	-0.1%
	SCI	B	-0.1%
	BJ	D	-0.1%
	XPO	D	-0.08%
	CASY	D	-0.08%
	RRX	C	-0.08%
	PAG	D	-0.06%
	AGR	B	-0.05%
	NWS	D	-0.05%
	COTY	F	-0.02%

QUS: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Utilities - Regulated Electric Asset Management Business Services Semiconductors Diagnostics & Research Oil & Gas E&P Software - Infrastructure Capital Markets Specialty Retail Aerospace & Defense Banks - Regional - US Biotechnology REIT - Residential Specialty Chemicals Drug Manufacturers - Major Insurance - Property & Casualty Packaged Foods Internet Content & Information

Keywords: S&P 500 Nasdaq 100 Computing Natural Gas Insurance Electricity Electronics Dow Jones Component Aerospace Chemical Telecommunications Real Estate Investment Trust Bank Medicine Semiconductor Cloud Computing Banking IBD 50 Insurance Products Mining

IMCV: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Oil & Gas E&P Packaged Foods Specialty Retail Asset Management Banks - Regional - US Insurance - Property & Casualty REIT - Residential Specialty Chemicals Utilities - Diversified Business Services Diagnostics & Research Diversified Industrials Packaging & Containers Oil & Gas Midstream Residential Construction Scientific & Technical Instruments Biotechnology Broadcasting - TV Building Materials

Keywords: S&P 500 Natural Gas Electricity Nasdaq 100 Insurance Real Estate Investment Trust Aerospace Electronics Insurance Products Beverage Computing Bank Chemical Banking Building Materials Disability Food Products Petroleum Industry Telecommunications Financial Products