QUS vs. IWR ETF Comparison

Comparison of SPDR MSCI USA Quality Mix ETF (QUS) to iShares Russell Mid-Cap ETF (IWR)

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

$161.92

Average Daily Volume

15,365

Number of Holdings ^*

583

* may have additional holdings in another (foreign) market

IWR

iShares Russell Mid-Cap ETF

IWR Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities. 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 the mid-capitalization sector of the U.S. equity market. The underlying index is a float-adjusted, capitalization-weighted index of the 800 smallest issuers in the Russell 1000® Index.

Grade (RS Rating)

Last Trade

$94.53

Average Daily Volume

1,461,787

Number of Holdings ^*

803

* may have additional holdings in another (foreign) market

Performance

Period	QUS	IWR
30 Days	2.25%	6.87%
60 Days	3.15%	7.84%
90 Days	4.45%	9.96%
12 Months	29.35%	34.02%

383 Overlapping Holdings

	Symbol	Grade	Weight in QUS	Weight in IWR	Overlap
	A	D	0.11%	0.31%	0.11%
	ACGL	D	0.38%	0.3%	0.3%
	ACI	C	0.03%	0.07%	0.03%
	ACM	A	0.01%	0.12%	0.01%
	ADM	D	0.08%	0.21%	0.08%
	AEE	A	0.11%	0.2%	0.11%
	AES	F	0.01%	0.08%	0.01%
	AFG	A	0.15%	0.08%	0.08%
	AFL	B	0.22%	0.51%	0.22%
	AIZ	A	0.12%	0.09%	0.09%
	AJG	B	0.46%	0.52%	0.46%
	AKAM	D	0.14%	0.11%	0.11%
	ALB	C	0.02%	0.1%	0.02%
	ALGN	D	0.01%	0.14%	0.01%
	ALL	A	0.06%	0.43%	0.06%
	ALLE	D	0.04%	0.1%	0.04%
	ALLY	C	0.03%	0.08%	0.03%
	ALNY	D	0.07%	0.24%	0.07%
	AMCR	D	0.02%	0.12%	0.02%
	AME	A	0.02%	0.37%	0.02%
	AMH	D	0.01%	0.1%	0.01%
	AMP	A	0.04%	0.46%	0.04%
	ANSS	B	0.01%	0.24%	0.01%
	AOS	F	0.03%	0.07%	0.03%
	APA	D	0.05%	0.07%	0.05%
	APP	B	0.02%	0.63%	0.02%
	APTV	D	0.02%	0.12%	0.02%
	ARE	D	0.02%	0.15%	0.02%
	ARES	A	0.01%	0.25%	0.01%
	ATO	A	0.04%	0.18%	0.04%
	AVB	B	0.02%	0.27%	0.02%
	AVTR	F	0.01%	0.12%	0.01%
	AVY	D	0.01%	0.13%	0.01%
	AWK	D	0.02%	0.22%	0.02%
	AXON	A	0.0%	0.35%	0.0%
	BAH	F	0.2%	0.16%	0.16%
	BALL	D	0.02%	0.15%	0.02%
	BAX	D	0.02%	0.13%	0.02%
	BBWI	D	0.01%	0.06%	0.01%
	BBY	D	0.09%	0.16%	0.09%
	BEN	C	0.01%	0.05%	0.01%
	BG	F	0.05%	0.1%	0.05%
	BIIB	F	0.02%	0.19%	0.02%
	BIO	D	0.01%	0.05%	0.01%
	BK	A	0.09%	0.48%	0.09%
	BKR	B	0.04%	0.35%	0.04%
	BLDR	D	0.08%	0.17%	0.08%
	BMRN	D	0.08%	0.1%	0.08%
	BR	A	0.03%	0.22%	0.03%
	BRO	B	0.01%	0.22%	0.01%
	BSY	D	0.0%	0.05%	0.0%
	BURL	A	0.01%	0.14%	0.01%
	BXP	D	0.01%	0.1%	0.01%
	CAG	D	0.02%	0.1%	0.02%
	CAH	B	0.12%	0.24%	0.12%
	CBOE	B	0.29%	0.17%	0.17%
	CBRE	B	0.05%	0.33%	0.05%
	CCI	D	0.03%	0.37%	0.03%
	CCK	C	0.02%	0.09%	0.02%
	CCL	B	0.01%	0.2%	0.01%
	CDW	F	0.19%	0.2%	0.19%
	CE	F	0.01%	0.07%	0.01%
	CELH	F	0.0%	0.04%	0.0%
	CF	B	0.03%	0.13%	0.03%
	CFG	B	0.07%	0.17%	0.07%
	CG	A	0.01%	0.09%	0.01%
	CHD	B	0.14%	0.22%	0.14%
	CHRD	D	0.01%	0.07%	0.01%
	CHRW	C	0.02%	0.11%	0.02%
	CHTR	C	0.09%	0.3%	0.09%
	CINF	A	0.03%	0.19%	0.03%
	CLX	B	0.01%	0.17%	0.01%
	CMI	A	0.17%	0.41%	0.17%
	CMS	C	0.09%	0.17%	0.09%
	CNC	D	0.08%	0.25%	0.08%
	CNH	C	0.03%	0.08%	0.03%
	CNP	B	0.02%	0.16%	0.02%
	COIN	C	0.01%	0.5%	0.01%
	COR	B	0.35%	0.33%	0.33%
	CPAY	A	0.02%	0.2%	0.02%
	CPB	D	0.12%	0.07%	0.07%
	CPT	B	0.01%	0.1%	0.01%
	CRL	C	0.01%	0.08%	0.01%
	CSGP	D	0.01%	0.24%	0.01%
	CSL	C	0.01%	0.17%	0.01%
	CTLT	B	0.01%	0.09%	0.01%
	CTRA	B	0.03%	0.16%	0.03%
	CTSH	B	0.39%	0.32%	0.32%
	CTVA	C	0.16%	0.32%	0.16%
	DAL	C	0.01%	0.34%	0.01%
	DAY	B	0.0%	0.09%	0.0%
	DD	D	0.04%	0.28%	0.04%
	DDOG	A	0.0%	0.31%	0.0%
	DECK	A	0.09%	0.22%	0.09%
	DFS	B	0.07%	0.36%	0.07%
	DG	F	0.02%	0.14%	0.02%
	DGX	A	0.06%	0.15%	0.06%
	DHI	D	0.19%	0.39%	0.19%
	DINO	D	0.02%	0.05%	0.02%
	DKNG	B	0.0%	0.15%	0.0%
	DKS	C	0.01%	0.09%	0.01%
	DLR	B	0.04%	0.48%	0.04%
	DLTR	F	0.02%	0.11%	0.02%
	DOC	D	0.01%	0.12%	0.01%
	DOCU	A	0.0%	0.13%	0.0%
	DOV	A	0.02%	0.23%	0.02%
	DOW	F	0.06%	0.26%	0.06%
	DPZ	C	0.07%	0.12%	0.07%
	DRI	B	0.02%	0.16%	0.02%
	DT	C	0.0%	0.13%	0.0%
	DTE	C	0.1%	0.2%	0.1%
	DVA	B	0.01%	0.07%	0.01%
	DVN	F	0.04%	0.2%	0.04%
	DXCM	D	0.0%	0.25%	0.0%
	EA	A	0.31%	0.36%	0.31%
	EBAY	D	0.02%	0.26%	0.02%
	ED	D	0.42%	0.28%	0.28%
	EFX	F	0.01%	0.25%	0.01%
	EG	C	0.18%	0.13%	0.13%
	EIX	B	0.04%	0.26%	0.04%
	ELS	C	0.0%	0.11%	0.0%
	EME	C	0.08%	0.19%	0.08%
	EMN	D	0.02%	0.1%	0.02%
	ENPH	F	0.02%	0.06%	0.02%
	ENTG	D	0.01%	0.12%	0.01%
	EPAM	C	0.04%	0.11%	0.04%
	EQH	B	0.02%	0.12%	0.02%
	EQR	B	0.02%	0.23%	0.02%
	EQT	B	0.03%	0.21%	0.03%
	ES	D	0.03%	0.18%	0.03%
	ESS	B	0.01%	0.16%	0.01%
	ETR	B	0.05%	0.26%	0.05%
	EVRG	A	0.02%	0.12%	0.02%
	EXAS	D	0.0%	0.07%	0.0%
	EXC	C	0.06%	0.32%	0.06%
	EXPD	D	0.06%	0.14%	0.06%
	EXPE	B	0.02%	0.19%	0.02%
	EXR	D	0.02%	0.28%	0.02%
	FANG	D	0.22%	0.27%	0.22%
	FAST	B	0.15%	0.39%	0.15%
	FBIN	D	0.01%	0.08%	0.01%
	FCNCA	A	0.34%	0.22%	0.22%
	FDS	B	0.05%	0.15%	0.05%
	FE	C	0.02%	0.2%	0.02%
	FFIV	B	0.23%	0.11%	0.11%
	FICO	B	0.2%	0.44%	0.2%
	FIS	C	0.03%	0.41%	0.03%
	FITB	A	0.06%	0.26%	0.06%
	FNF	B	0.02%	0.13%	0.02%
	FOX	A	0.01%	0.05%	0.01%
	FOXA	B	0.02%	0.09%	0.02%
	FSLR	F	0.03%	0.17%	0.03%
	FTV	C	0.02%	0.22%	0.02%
	GDDY	A	0.34%	0.21%	0.21%
	GEHC	F	0.03%	0.31%	0.03%
	GEN	B	0.13%	0.13%	0.13%
	GGG	B	0.05%	0.12%	0.05%
	GIS	D	0.25%	0.29%	0.25%
	GLPI	C	0.01%	0.11%	0.01%
	GLW	B	0.14%	0.29%	0.14%
	GPC	D	0.02%	0.14%	0.02%
	GPN	B	0.04%	0.24%	0.04%
	GRMN	B	0.2%	0.27%	0.2%
	GWW	B	0.2%	0.42%	0.2%
	H	B	0.0%	0.06%	0.0%
	HAL	C	0.03%	0.22%	0.03%
	HBAN	A	0.06%	0.21%	0.06%
	HEI	B	0.0%	0.14%	0.0%
	HEI	B	0.0%	0.1%	0.0%
	HEI	B	0.0%	0.1%	0.0%
	HEI	B	0.0%	0.14%	0.0%
	HES	B	0.02%	0.33%	0.02%
	HIG	B	0.09%	0.28%	0.09%
	HII	D	0.01%	0.06%	0.01%
	HLT	A	0.01%	0.5%	0.01%
	HOLX	D	0.07%	0.15%	0.07%
	HOOD	B	0.01%	0.18%	0.01%
	HPE	B	0.06%	0.23%	0.06%
	HPQ	B	0.07%	0.3%	0.07%
	HRL	D	0.08%	0.07%	0.07%
	HSIC	B	0.01%	0.07%	0.01%
	HST	C	0.01%	0.1%	0.01%
	HSY	F	0.18%	0.21%	0.18%
	HUBB	B	0.07%	0.19%	0.07%
	HUBS	A	0.08%	0.27%	0.08%
	HUM	C	0.2%	0.27%	0.2%
	HWM	A	0.01%	0.37%	0.01%
	IDXX	F	0.12%	0.29%	0.12%
	IEX	B	0.05%	0.14%	0.05%
	IFF	D	0.02%	0.18%	0.02%
	ILMN	D	0.01%	0.18%	0.01%
	INCY	C	0.2%	0.1%	0.1%
	INVH	D	0.01%	0.17%	0.01%
	IP	B	0.04%	0.16%	0.04%
	IPG	D	0.01%	0.08%	0.01%
	IQV	D	0.02%	0.29%	0.02%
	IR	B	0.02%	0.34%	0.02%
	IRM	D	0.01%	0.28%	0.01%
	IT	C	0.13%	0.32%	0.13%
	J	F	0.02%	0.14%	0.02%
	JBHT	C	0.05%	0.12%	0.05%
	JBL	B	0.03%	0.12%	0.03%
	JKHY	D	0.04%	0.1%	0.04%
	JNPR	F	0.17%	0.1%	0.1%
	K	A	0.29%	0.17%	0.17%
	KEY	B	0.04%	0.15%	0.04%
	KEYS	A	0.26%	0.21%	0.21%
	KIM	A	0.02%	0.14%	0.02%
	KMI	A	0.07%	0.44%	0.07%
	KMX	B	0.03%	0.1%	0.03%
	KNX	B	0.04%	0.07%	0.04%
	KR	B	0.31%	0.32%	0.31%
	KVUE	A	0.04%	0.38%	0.04%
	L	A	0.12%	0.12%	0.12%
	LDOS	C	0.02%	0.18%	0.02%
	LEN	D	0.06%	0.01%	0.01%
	LEN	D	0.06%	0.33%	0.06%
	LH	C	0.03%	0.16%	0.03%
	LHX	C	0.04%	0.38%	0.04%
	LII	A	0.01%	0.16%	0.01%
	LKQ	D	0.02%	0.08%	0.02%
	LNG	B	0.05%	0.4%	0.05%
	LNT	A	0.05%	0.13%	0.05%
	LPLA	A	0.07%	0.19%	0.07%
	LUV	C	0.01%	0.16%	0.01%
	LVS	C	0.01%	0.14%	0.01%
	LW	C	0.03%	0.09%	0.03%
	LYB	F	0.04%	0.18%	0.04%
	LYV	A	0.01%	0.17%	0.01%
	MAA	B	0.01%	0.15%	0.01%
	MANH	D	0.07%	0.14%	0.07%
	MAS	D	0.01%	0.14%	0.01%
	MCHP	D	0.1%	0.27%	0.1%
	MDB	C	0.0%	0.16%	0.0%
	MGM	D	0.01%	0.07%	0.01%
	MKC	D	0.01%	0.15%	0.01%
	MKL	A	0.15%	0.18%	0.15%
	MKTX	D	0.03%	0.08%	0.03%
	MLM	B	0.02%	0.29%	0.02%
	MOH	F	0.13%	0.14%	0.13%
	MOS	F	0.03%	0.07%	0.03%
	MPWR	F	0.07%	0.22%	0.07%
	MRO	B	0.04%	0.13%	0.04%
	MSCI	C	0.01%	0.38%	0.01%
	MSTR	C	0.0%	0.44%	0.0%
	MTB	A	0.08%	0.29%	0.08%
	MTCH	D	0.01%	0.07%	0.01%
	MTD	D	0.01%	0.21%	0.01%
	NBIX	C	0.11%	0.1%	0.1%
	NDAQ	A	0.02%	0.27%	0.02%
	NDSN	B	0.01%	0.12%	0.01%
	NET	B	0.0%	0.22%	0.0%
	NI	A	0.02%	0.14%	0.02%
	NRG	B	0.03%	0.16%	0.03%
	NTAP	C	0.16%	0.2%	0.16%
	NTRS	A	0.03%	0.18%	0.03%
	NUE	C	0.07%	0.29%	0.07%
	NVR	D	0.11%	0.21%	0.11%
	NWSA	B	0.01%	0.09%	0.01%
	O	D	0.04%	0.41%	0.04%
	OC	A	0.02%	0.14%	0.02%
	ODFL	B	0.13%	0.35%	0.13%
	OKE	A	0.05%	0.53%	0.05%
	OKTA	C	0.0%	0.1%	0.0%
	OMC	C	0.07%	0.15%	0.07%
	ON	D	0.02%	0.23%	0.02%
	OTIS	C	0.04%	0.33%	0.04%
	OVV	B	0.03%	0.1%	0.03%
	PARA	C	0.03%	0.05%	0.03%
	PAYC	B	0.03%	0.09%	0.03%
	PAYX	C	0.16%	0.38%	0.16%
	PCG	A	0.06%	0.37%	0.06%
	PEG	A	0.04%	0.37%	0.04%
	PFG	D	0.03%	0.16%	0.03%
	PHM	D	0.11%	0.22%	0.11%
	PINS	D	0.0%	0.14%	0.0%
	PKG	A	0.09%	0.17%	0.09%
	PLTR	B	0.01%	1.09%	0.01%
	PNR	A	0.01%	0.14%	0.01%
	PODD	C	0.0%	0.15%	0.0%
	POOL	C	0.04%	0.11%	0.04%
	PPG	F	0.02%	0.24%	0.02%
	PPL	B	0.03%	0.21%	0.03%
	PRU	A	0.08%	0.38%	0.08%
	PSTG	D	0.0%	0.12%	0.0%
	PTC	A	0.18%	0.19%	0.18%
	PWR	A	0.02%	0.39%	0.02%
	QRVO	F	0.01%	0.05%	0.01%
	RBLX	C	0.0%	0.21%	0.0%
	RCL	A	0.01%	0.45%	0.01%
	REG	B	0.01%	0.11%	0.01%
	RF	A	0.06%	0.2%	0.06%
	RIVN	F	0.01%	0.07%	0.01%
	RJF	A	0.03%	0.25%	0.03%
	RMD	C	0.09%	0.28%	0.09%
	ROK	B	0.1%	0.27%	0.1%
	ROKU	D	0.0%	0.07%	0.0%
	ROL	B	0.17%	0.12%	0.12%
	ROST	C	0.03%	0.38%	0.03%
	RPM	A	0.01%	0.14%	0.01%
	RPRX	D	0.01%	0.08%	0.01%
	RS	B	0.03%	0.15%	0.03%
	RVTY	F	0.01%	0.11%	0.01%
	SBAC	D	0.01%	0.2%	0.01%
	SEIC	B	0.03%	0.07%	0.03%
	SJM	D	0.02%	0.09%	0.02%
	SMCI	F	0.03%	0.08%	0.03%
	SNA	A	0.06%	0.15%	0.06%
	SOLV	C	0.06%	0.08%	0.06%
	SPG	B	0.03%	0.48%	0.03%
	SQ	B	0.03%	0.39%	0.03%
	SSNC	B	0.02%	0.13%	0.02%
	STE	F	0.01%	0.18%	0.01%
	STLD	B	0.04%	0.17%	0.04%
	STT	A	0.06%	0.24%	0.06%
	SUI	D	0.01%	0.13%	0.01%
	SW	A	0.03%	0.22%	0.03%
	SWK	D	0.02%	0.11%	0.02%
	SWKS	F	0.05%	0.11%	0.05%
	SYF	B	0.06%	0.21%	0.06%
	SYY	B	0.05%	0.31%	0.05%
	TAP	C	0.02%	0.09%	0.02%
	TDY	B	0.21%	0.18%	0.18%
	TECH	D	0.0%	0.09%	0.0%
	TER	D	0.04%	0.13%	0.04%
	TFX	F	0.01%	0.08%	0.01%
	TOST	B	0.0%	0.15%	0.0%
	TPL	A	0.09%	0.21%	0.09%
	TRGP	B	0.03%	0.35%	0.03%
	TRMB	B	0.01%	0.14%	0.01%
	TROW	B	0.09%	0.21%	0.09%
	TRU	D	0.01%	0.15%	0.01%
	TSCO	D	0.09%	0.24%	0.09%
	TSN	B	0.3%	0.15%	0.15%
	TTC	D	0.03%	0.07%	0.03%
	TTD	B	0.01%	0.43%	0.01%
	TTWO	A	0.01%	0.25%	0.01%
	TW	A	0.07%	0.12%	0.07%
	TWLO	A	0.01%	0.14%	0.01%
	TXT	D	0.02%	0.13%	0.02%
	TYL	B	0.01%	0.21%	0.01%
	UDR	B	0.01%	0.12%	0.01%
	UHAL	D	0.01%	0.05%	0.01%
	UHAL	D	0.01%	0.0%	0.0%
	UHS	D	0.02%	0.1%	0.02%
	ULTA	F	0.08%	0.14%	0.08%
	URI	B	0.04%	0.46%	0.04%
	UTHR	C	0.1%	0.13%	0.1%
	VEEV	C	0.08%	0.26%	0.08%
	VICI	C	0.04%	0.27%	0.04%
	VLTO	D	0.08%	0.21%	0.08%
	VMC	B	0.02%	0.3%	0.02%
	VRSK	A	0.15%	0.33%	0.15%
	VRSN	F	0.22%	0.13%	0.13%
	VRT	B	0.01%	0.36%	0.01%
	VST	B	0.02%	0.4%	0.02%
	VTR	C	0.02%	0.21%	0.02%
	VTRS	A	0.05%	0.13%	0.05%
	WAB	B	0.02%	0.28%	0.02%
	WAT	B	0.07%	0.17%	0.07%
	WBA	F	0.06%	0.05%	0.05%
	WBD	C	0.11%	0.18%	0.11%
	WDC	D	0.02%	0.17%	0.02%
	WEC	A	0.29%	0.26%	0.26%
	WLK	D	0.01%	0.03%	0.01%
	WMB	A	0.15%	0.57%	0.15%
	WPC	D	0.01%	0.1%	0.01%
	WRB	A	0.12%	0.15%	0.12%
	WSM	B	0.06%	0.14%	0.06%
	WSO	A	0.06%	0.15%	0.06%
	WST	C	0.06%	0.19%	0.06%
	WTRG	B	0.01%	0.08%	0.01%
	WTW	B	0.16%	0.26%	0.16%
	WY	D	0.03%	0.19%	0.03%
	WYNN	D	0.0%	0.08%	0.0%
	XEL	A	0.2%	0.32%	0.2%
	XYL	D	0.01%	0.24%	0.01%
	YUM	B	0.19%	0.31%	0.19%
	Z	A	0.01%	0.1%	0.01%
	ZBH	C	0.02%	0.19%	0.02%
	ZBRA	B	0.01%	0.16%	0.01%
	ZM	B	0.01%	0.18%	0.01%
	ZS	C	0.0%	0.15%	0.0%

QUS Overweight 204 Positions Relative to IWR

	Symbol	Grade	Weight
	AAPL	C	3.24%
	NVDA	C	2.76%
	MSFT	F	2.7%
	META	D	2.32%
	UNH	C	2.21%
	LLY	F	1.92%
	V	A	1.91%
	MA	C	1.69%
	JNJ	D	1.64%
	CSCO	B	1.34%
	COST	B	1.31%
	GOOGL	C	1.2%
	ACN	C	1.18%
	GOOG	C	1.12%
	BRK.A	B	1.1%
	TXN	C	1.06%
	JPM	A	1.06%
	PEP	F	1.01%
	WMT	A	0.94%
	VZ	C	0.81%
	KO	D	0.81%
	XOM	B	0.81%
	TMUS	B	0.78%
	LMT	D	0.72%
	APH	A	0.71%
	ADBE	C	0.71%
	MMC	B	0.69%
	AMZN	C	0.69%
	T	A	0.69%
	BAC	A	0.69%
	IBM	C	0.67%
	PGR	A	0.65%
	CB	C	0.65%
	CAT	B	0.63%
	MSI	B	0.63%
	MCK	B	0.61%
	DUK	C	0.6%
	PG	A	0.59%
	AVGO	D	0.58%
	VRTX	F	0.57%
	TJX	A	0.56%
	QCOM	F	0.55%
	CVX	A	0.55%
	NOC	D	0.55%
	ADP	B	0.54%
	RSG	A	0.54%
	SO	D	0.54%
	HON	B	0.53%
	WCN	A	0.53%
	ORCL	B	0.53%
	WM	A	0.52%
	WFC	A	0.5%
	MCD	D	0.5%
	ABBV	D	0.49%
	AMAT	F	0.48%
	TRV	B	0.47%
	MRK	F	0.46%
	ROP	B	0.46%
	BLK	C	0.46%
	C	A	0.45%
	GILD	C	0.43%
	CMCSA	B	0.42%
	ANET	C	0.39%
	AZO	C	0.36%
	HD	A	0.35%
	BMY	B	0.34%
	PFE	D	0.33%
	PANW	C	0.32%
	GM	B	0.32%
	MPC	D	0.32%
	FI	A	0.31%
	GS	A	0.3%
	LRCX	F	0.3%
	CDNS	B	0.29%
	ELV	F	0.29%
	CVS	D	0.29%
	KLAC	D	0.29%
	SNPS	B	0.28%
	TSLA	B	0.28%
	MMM	D	0.28%
	NKE	D	0.28%
	NOW	A	0.27%
	AMGN	D	0.27%
	ITW	B	0.27%
	SHW	A	0.26%
	ORLY	B	0.26%
	TT	A	0.26%
	ZTS	D	0.25%
	REGN	F	0.25%
	CI	F	0.24%
	BDX	F	0.24%
	CME	A	0.23%
	KDP	D	0.23%
	CTAS	B	0.23%
	MDLZ	F	0.22%
	CMG	B	0.22%
	MS	A	0.21%
	MCO	B	0.21%
	AON	A	0.21%
	AEP	D	0.19%
	INTC	D	0.18%
	KHC	F	0.18%
	UBER	D	0.18%
	RTX	C	0.18%
	NEM	D	0.18%
	CL	D	0.17%
	PNC	B	0.17%
	ERIE	D	0.17%
	COF	B	0.17%
	COP	C	0.17%
	DIS	B	0.17%
	ABT	B	0.16%
	TFC	A	0.16%
	ADSK	A	0.16%
	USB	A	0.16%
	F	C	0.16%
	VLO	C	0.15%
	MDT	D	0.15%
	WDAY	B	0.15%
	EOG	A	0.15%
	LIN	D	0.15%
	D	C	0.14%
	NFLX	A	0.14%
	ADI	D	0.14%
	CPRT	A	0.14%
	ICE	C	0.14%
	PSA	D	0.14%
	PSX	C	0.14%
	LOW	D	0.13%
	MNST	C	0.12%
	CRM	B	0.12%
	AIG	B	0.12%
	FDX	B	0.12%
	LULU	C	0.12%
	EW	C	0.12%
	AXP	A	0.11%
	GE	D	0.11%
	PM	B	0.11%
	UPS	C	0.11%
	NEE	D	0.1%
	KMB	D	0.1%
	OXY	D	0.1%
	TGT	F	0.1%
	TMO	F	0.1%
	DE	A	0.1%
	DHR	F	0.09%
	MET	A	0.09%
	PYPL	B	0.08%
	PLD	D	0.08%
	UNP	C	0.08%
	MO	A	0.07%
	STX	D	0.07%
	SPGI	C	0.07%
	MU	D	0.07%
	GD	F	0.07%
	SCHW	B	0.07%
	MELI	D	0.07%
	PCAR	B	0.06%
	DELL	C	0.06%
	HCA	F	0.06%
	SBUX	A	0.06%
	AMD	F	0.06%
	SRE	A	0.06%
	CRWD	B	0.06%
	GEV	B	0.05%
	APD	A	0.05%
	BX	A	0.05%
	ETN	A	0.05%
	NSC	B	0.05%
	JCI	C	0.05%
	EMR	A	0.05%
	SLB	C	0.05%
	CSX	B	0.05%
	SYK	C	0.05%
	ISRG	A	0.04%
	WELL	A	0.04%
	CARR	D	0.04%
	AMT	D	0.04%
	INTU	C	0.04%
	BKNG	A	0.04%
	PH	A	0.04%
	BSX	B	0.04%
	FCX	D	0.04%
	KKR	A	0.04%
	NXPI	D	0.03%
	APO	B	0.03%
	CEG	D	0.03%
	ABNB	C	0.02%
	STZ	D	0.02%
	MAR	B	0.02%
	MRVL	B	0.02%
	CRBG	B	0.02%
	BA	F	0.02%
	EQIX	A	0.02%
	ECL	D	0.02%
	TDG	D	0.01%
	DASH	A	0.01%
	EL	F	0.01%
	FTNT	C	0.01%
	MRNA	F	0.01%
	IOT	A	0.0%
	TEAM	A	0.0%
	SNAP	C	0.0%
	SNOW	C	0.0%

QUS Underweight 422 Positions Relative to IWR

	Symbol	Grade	Weight
	FERG	B	-0.33%
	UAL	A	-0.25%
	CPNG	D	-0.23%
	CVNA	B	-0.21%
	EXE	B	-0.18%
	IBKR	A	-0.16%
	COO	D	-0.16%
	NTRA	B	-0.14%
	XPO	B	-0.14%
	FWONK	B	-0.14%
	NTNX	A	-0.14%
	RGA	A	-0.13%
	TOL	B	-0.13%
	FIX	A	-0.13%
	GWRE	A	-0.13%
	SOFI	A	-0.12%
	EWBC	A	-0.12%
	USFD	A	-0.12%
	THC	D	-0.12%
	CASY	A	-0.12%
	PFGC	B	-0.11%
	JEF	A	-0.11%
	AFRM	B	-0.11%
	TPR	B	-0.11%
	TXRH	C	-0.11%
	RNR	C	-0.11%
	CW	B	-0.11%
	SAIA	B	-0.11%
	BJ	A	-0.1%
	BWXT	B	-0.1%
	UNM	A	-0.1%
	NVT	B	-0.1%
	SCI	B	-0.1%
	FTI	A	-0.1%
	JLL	D	-0.1%
	ITT	A	-0.1%
	COHR	B	-0.1%
	CLH	B	-0.1%
	WBS	A	-0.09%
	PRI	A	-0.09%
	CACI	D	-0.09%
	PNW	B	-0.09%
	GNRC	B	-0.09%
	CAVA	B	-0.09%
	EVR	B	-0.09%
	FND	C	-0.09%
	CUBE	D	-0.09%
	LAMR	D	-0.09%
	BLD	D	-0.09%
	ATR	B	-0.09%
	TTEK	F	-0.09%
	AA	B	-0.09%
	FHN	A	-0.09%
	RRX	B	-0.09%
	DUOL	A	-0.09%
	NCLH	B	-0.09%
	LECO	B	-0.09%
	OWL	A	-0.09%
	SF	B	-0.09%
	AAON	B	-0.08%
	TPX	B	-0.08%
	GMED	A	-0.08%
	DCI	B	-0.08%
	WMS	D	-0.08%
	RGLD	C	-0.08%
	INGR	B	-0.08%
	WING	D	-0.08%
	ORI	A	-0.08%
	FRT	B	-0.08%
	BRBR	A	-0.08%
	TKO	B	-0.08%
	SRPT	D	-0.08%
	PNFP	B	-0.08%
	AAL	B	-0.08%
	DOX	D	-0.08%
	CIEN	B	-0.08%
	PR	B	-0.08%
	GL	B	-0.08%
	HLI	B	-0.08%
	WAL	B	-0.08%
	CHDN	B	-0.08%
	LBRDK	C	-0.08%
	ARMK	B	-0.08%
	EHC	B	-0.08%
	MUSA	A	-0.08%
	DTM	B	-0.08%
	NLY	C	-0.08%
	OHI	C	-0.08%
	EXEL	B	-0.08%
	GME	C	-0.08%
	EXP	A	-0.08%
	AYI	B	-0.08%
	LAD	A	-0.08%
	ALSN	B	-0.08%
	WWD	B	-0.08%
	KNSL	B	-0.08%
	MEDP	D	-0.07%
	RRC	B	-0.07%
	X	C	-0.07%
	CZR	F	-0.07%
	SKX	D	-0.07%
	SNV	B	-0.07%
	APG	B	-0.07%
	CNM	D	-0.07%
	CFR	B	-0.07%
	VOYA	B	-0.07%
	PLNT	A	-0.07%
	CHE	D	-0.07%
	EGP	F	-0.07%
	HRB	D	-0.07%
	RL	B	-0.07%
	GPK	C	-0.07%
	LNW	D	-0.07%
	NYT	C	-0.07%
	MTZ	B	-0.07%
	CR	A	-0.07%
	GLOB	B	-0.07%
	WTFC	A	-0.07%
	CBSH	A	-0.07%
	ZION	B	-0.07%
	OGE	B	-0.07%
	ITCI	C	-0.07%
	FYBR	D	-0.07%
	HAS	D	-0.07%
	BILL	A	-0.07%
	CMA	A	-0.07%
	BRX	A	-0.07%
	SNX	C	-0.07%
	PCTY	B	-0.07%
	PEN	B	-0.07%
	AR	B	-0.07%
	AXTA	A	-0.07%
	WCC	B	-0.07%
	RBC	A	-0.07%
	MORN	B	-0.07%
	REXR	F	-0.07%
	AWI	A	-0.06%
	MTN	C	-0.06%
	CFLT	B	-0.06%
	SN	D	-0.06%
	LSCC	D	-0.06%
	AXS	A	-0.06%
	MTDR	B	-0.06%
	VMI	B	-0.06%
	FMC	D	-0.06%
	DAR	C	-0.06%
	ALK	C	-0.06%
	CGNX	C	-0.06%
	FCN	D	-0.06%
	BPOP	B	-0.06%
	MTSI	B	-0.06%
	MASI	A	-0.06%
	ELAN	D	-0.06%
	R	B	-0.06%
	GXO	B	-0.06%
	FR	C	-0.06%
	ATI	D	-0.06%
	FRPT	B	-0.06%
	RGEN	D	-0.06%
	GNTX	C	-0.06%
	VFC	C	-0.06%
	ESTC	C	-0.06%
	ESAB	B	-0.06%
	MKSI	C	-0.06%
	AGNC	D	-0.06%
	GTLB	B	-0.06%
	OSK	B	-0.06%
	VNO	B	-0.06%
	S	B	-0.06%
	LPX	B	-0.06%
	MIDD	C	-0.06%
	COKE	C	-0.06%
	CART	C	-0.06%
	RLI	B	-0.06%
	RYAN	B	-0.06%
	WEX	D	-0.06%
	PCOR	B	-0.06%
	PB	A	-0.06%
	TREX	C	-0.06%
	MHK	D	-0.06%
	WH	B	-0.06%
	KEX	C	-0.06%
	SMAR	A	-0.06%
	RHI	B	-0.06%
	JAZZ	B	-0.06%
	ADC	B	-0.06%
	SSD	D	-0.06%
	OLED	D	-0.06%
	NNN	D	-0.06%
	BERY	B	-0.06%
	ONTO	D	-0.06%
	FLS	B	-0.06%
	KBR	F	-0.06%
	BWA	D	-0.06%
	G	B	-0.06%
	LITE	B	-0.05%
	RITM	C	-0.05%
	VVV	F	-0.05%
	PATH	C	-0.05%
	NFG	A	-0.05%
	THO	B	-0.05%
	OLLI	D	-0.05%
	BRKR	D	-0.05%
	PVH	C	-0.05%
	JHG	A	-0.05%
	ETSY	D	-0.05%
	CROX	D	-0.05%
	AGCO	D	-0.05%
	THG	A	-0.05%
	VNT	B	-0.05%
	AMG	B	-0.05%
	LFUS	F	-0.05%
	FNB	A	-0.05%
	WFRD	D	-0.05%
	IDA	A	-0.05%
	WHR	B	-0.05%
	LAZ	B	-0.05%
	FOUR	B	-0.05%
	BFAM	D	-0.05%
	DOCS	C	-0.05%
	STWD	C	-0.05%
	ARW	D	-0.05%
	COLD	D	-0.05%
	SITE	D	-0.05%
	OMF	A	-0.05%
	ESI	A	-0.05%
	SIRI	C	-0.05%
	SAIC	F	-0.05%
	MAT	D	-0.05%
	NOV	C	-0.05%
	MSA	D	-0.05%
	KD	B	-0.05%
	WSC	D	-0.05%
	MTG	C	-0.05%
	IVZ	B	-0.05%
	COLB	A	-0.05%
	LSTR	D	-0.05%
	ELF	C	-0.05%
	DBX	B	-0.05%
	FAF	A	-0.05%
	STAG	F	-0.05%
	LYFT	C	-0.05%
	AZEK	A	-0.05%
	HR	C	-0.05%
	AZPN	A	-0.05%
	M	D	-0.04%
	GAP	C	-0.04%
	KMPR	B	-0.04%
	RYN	D	-0.04%
	EEFT	B	-0.04%
	PSN	D	-0.04%
	SLGN	A	-0.04%
	KRC	C	-0.04%
	SEE	C	-0.04%
	CUZ	B	-0.04%
	LOPE	B	-0.04%
	RH	B	-0.04%
	AGO	B	-0.04%
	FIVE	F	-0.04%
	ST	F	-0.04%
	HCP	B	-0.04%
	ROIV	C	-0.04%
	AVT	C	-0.04%
	WTM	A	-0.04%
	HXL	D	-0.04%
	OLN	D	-0.04%
	TKR	D	-0.04%
	SON	D	-0.04%
	BYD	C	-0.04%
	NXST	C	-0.04%
	INSP	D	-0.04%
	UGI	A	-0.04%
	AL	B	-0.04%
	BROS	B	-0.04%
	CIVI	D	-0.04%
	OZK	B	-0.04%
	AM	A	-0.04%
	VNOM	A	-0.04%
	U	C	-0.04%
	VKTX	F	-0.04%
	APPF	B	-0.04%
	POST	C	-0.04%
	SLM	A	-0.04%
	LNC	B	-0.04%
	CLF	F	-0.04%
	CCCS	B	-0.04%
	LEA	D	-0.04%
	IONS	F	-0.04%
	TPG	A	-0.04%
	CRUS	D	-0.04%
	BC	C	-0.04%
	WEN	D	-0.03%
	AMTM	D	-0.03%
	BHF	B	-0.03%
	SMG	D	-0.03%
	PENN	C	-0.03%
	VAC	B	-0.03%
	ZI	D	-0.03%
	HUN	F	-0.03%
	YETI	C	-0.03%
	NCNO	B	-0.03%
	IRDM	D	-0.03%
	EPR	D	-0.03%
	ZG	A	-0.03%
	HIW	D	-0.03%
	PII	D	-0.03%
	ACHC	F	-0.03%
	FHB	A	-0.03%
	IAC	D	-0.03%
	NVST	B	-0.03%
	SPR	D	-0.03%
	W	F	-0.03%
	TNL	A	-0.03%
	NWS	B	-0.03%
	NWL	B	-0.03%
	PRGO	B	-0.03%
	DNB	B	-0.03%
	XRAY	F	-0.03%
	MDU	D	-0.03%
	NEU	C	-0.03%
	DXC	B	-0.03%
	MSM	C	-0.03%
	ASH	D	-0.03%
	PEGA	A	-0.03%
	OGN	D	-0.03%
	LINE	F	-0.03%
	HOG	D	-0.03%
	FLO	D	-0.03%
	RARE	D	-0.03%
	CHH	A	-0.03%
	GFS	C	-0.03%
	MSGS	A	-0.03%
	GTES	A	-0.03%
	AN	C	-0.03%
	DLB	B	-0.03%
	VSTS	C	-0.02%
	CRI	D	-0.02%
	UAA	C	-0.02%
	ALAB	B	-0.02%
	RKT	F	-0.02%
	QDEL	F	-0.02%
	LBTYK	A	-0.02%
	INFA	D	-0.02%
	LBTYA	B	-0.02%
	IPGP	D	-0.02%
	LCID	F	-0.02%
	KSS	F	-0.02%
	SHC	F	-0.02%
	PPC	C	-0.02%
	ADT	C	-0.02%
	AZTA	D	-0.02%
	RCM	F	-0.02%
	AAP	C	-0.02%
	HAYW	B	-0.02%
	CWEN	C	-0.02%
	JWN	C	-0.02%
	PINC	B	-0.02%
	ALGM	D	-0.02%
	CPRI	F	-0.02%
	SPB	C	-0.02%
	MP	B	-0.02%
	HHH	B	-0.02%
	ENOV	C	-0.02%
	MPW	F	-0.02%
	AGR	B	-0.02%
	BOKF	B	-0.02%
	WU	D	-0.02%
	CXT	B	-0.02%
	APLS	D	-0.02%
	COTY	F	-0.02%
	CACC	D	-0.02%
	DV	C	-0.02%
	FIVN	C	-0.02%
	TDC	D	-0.02%
	SAM	C	-0.02%
	COLM	B	-0.02%
	VIRT	B	-0.02%
	CC	C	-0.02%
	AMKR	D	-0.02%
	ECG	C	-0.02%
	AMED	F	-0.02%
	MAN	D	-0.02%
	PAG	B	-0.02%
	RNG	B	-0.02%
	SNRE	D	-0.02%
	NSA	D	-0.02%
	LLYVK	A	-0.02%
	PK	B	-0.02%
	UWMC	D	-0.01%
	PLTK	B	-0.01%
	SEB	F	-0.01%
	TFSL	A	-0.01%
	WOLF	F	-0.01%
	LOAR	A	-0.01%
	CWEN	C	-0.01%
	CNA	B	-0.01%
	AS	B	-0.01%
	CERT	F	-0.01%
	PYCR	C	-0.01%
	DDS	B	-0.01%
	LLYVA	A	-0.01%
	UI	A	-0.01%
	TXG	F	-0.01%
	SNDR	B	-0.01%
	REYN	D	-0.01%
	TRIP	F	-0.01%
	LBRDA	C	-0.01%
	LEG	F	-0.01%
	DJT	C	-0.01%
	GO	C	-0.01%
	QS	F	-0.01%
	CAR	C	-0.01%
	FTRE	D	-0.01%
	FWONA	B	-0.01%
	UA	C	-0.01%
	CLVT	F	-0.01%
	BIRK	D	-0.01%
	CNXC	F	-0.01%
	PARAA	B	-0.0%
	SEG	B	-0.0%
	GRAL	C	-0.0%
	NFE	D	-0.0%

QUS: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Utilities - Regulated Electric Business Services Diagnostics & Research Asset Management Semiconductors 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 Dow Jones Component Electronics Chemical Aerospace Real Estate Investment Trust Telecommunications Medicine Bank Semiconductor Cloud Computing Banking Insurance Products Mining IBD 50

IWR: Top Represented Industries & Keywords

Industries: Software - Application Banks - Regional - US Diversified Industrials Biotechnology Diagnostics & Research Software - Infrastructure Business Services Utilities - Regulated Electric Asset Management Oil & Gas E&P Specialty Retail Packaged Foods Packaging & Containers Information Technology Services Semiconductors Building Materials Capital Markets Insurance - Property & Casualty REIT - Residential Specialty Chemicals

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