QUS vs. MFUS ETF Comparison

Comparison of SPDR MSCI USA Quality Mix ETF (QUS) to PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS)

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

$156.84

Average Daily Volume

23,407

Number of Holdings ^*

579

* may have additional holdings in another (foreign) market

MFUS

PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF

MFUS Description

The investment seeks to track the investment results of the RAFI Dynamic Multi-Factor U.S. Index. The fund seeks to achieve its investment objective by investing at least 80% of its total assets (exclusive of collateral held from securities lending) in the component securities of the RAFI Dynamic Multi-Factor U.S. Index. The underlying index is constructed by RAFI Indices, LLC (the index provider) using a rules-based approach to construct factor portfolios within the underlying index. The underlying index consists of factor portfolios, each of which emphasizes one of the following factors: value, low volatility, quality, momentum and size.

Grade (RS Rating)

Last Trade

$50.22

Average Daily Volume

7,364

Number of Holdings ^*

780

* may have additional holdings in another (foreign) market

Performance

Period	QUS	MFUS
30 Days	2.08%	3.10%
60 Days	4.77%	4.82%
90 Days	6.12%	5.74%
12 Months	28.73%	28.93%

399 Overlapping Holdings

Symbol	Grade	Weight in QUS	Weight in MFUS	Overlap
A	C	0.12%	0.05%	0.05%
AAPL	C	3.27%	0.67%	0.67%
ABBV	C	0.59%	1.34%	0.59%
ACI	F	0.03%	0.01%	0.01%
ACM	B	0.01%	0.04%	0.01%
ACN	C	1.19%	0.19%	0.19%
ADBE	F	0.78%	0.04%	0.04%
ADM	D	0.09%	0.32%	0.09%
ADP	B	0.51%	0.09%	0.09%
ADSK	C	0.14%	0.09%	0.09%
AES	C	0.02%	0.03%	0.02%
AFG	B	0.15%	0.01%	0.01%
AFL	C	0.21%	0.19%	0.19%
AIG	D	0.12%	0.42%	0.12%
AIZ	B	0.11%	0.07%	0.07%
AJG	D	0.47%	0.09%	0.09%
AKAM	D	0.17%	0.03%	0.03%
ALGN	D	0.01%	0.02%	0.01%
ALL	B	0.06%	0.36%	0.06%
ALLY	F	0.02%	0.1%	0.02%
AMAT	D	0.55%	0.44%	0.44%
AMGN	B	0.33%	1.03%	0.33%
AMH	C	0.01%	0.04%	0.01%
AMP	A	0.03%	0.08%	0.03%
AMZN	C	0.64%	1.27%	0.64%
ANET	B	0.38%	0.12%	0.12%
ANSS	D	0.01%	0.05%	0.01%
AON	B	0.2%	0.19%	0.19%
AOS	D	0.03%	0.11%	0.03%
APH	D	0.66%	0.1%	0.1%
APO	C	0.02%	0.1%	0.02%
APP	C	0.01%	0.03%	0.01%
ARES	B	0.01%	0.09%	0.01%
AVGO	C	0.6%	1.34%	0.6%
AVTR	B	0.01%	0.03%	0.01%
AVY	C	0.01%	0.1%	0.01%
AXP	B	0.1%	0.19%	0.1%
AZO	D	0.37%	0.3%	0.3%
BAC	D	0.59%	0.39%	0.39%
BAH	C	0.21%	0.14%	0.14%
BALL	C	0.02%	0.07%	0.02%
BAX	C	0.03%	0.04%	0.03%
BBWI	F	0.01%	0.02%	0.01%
BBY	C	0.1%	0.24%	0.1%
BDX	D	0.26%	0.09%	0.09%
BEN	F	0.01%	0.04%	0.01%
BIIB	F	0.03%	0.08%	0.03%
BK	B	0.08%	0.27%	0.08%
BKNG	C	0.03%	0.47%	0.03%
BKR	C	0.03%	0.16%	0.03%
BLDR	C	0.08%	0.04%	0.04%
BMRN	F	0.11%	0.02%	0.02%
BMY	C	0.31%	0.28%	0.28%
BR	D	0.03%	0.16%	0.03%
BRK.A	C	1.07%	2.01%	1.07%
BRO	C	0.01%	0.13%	0.01%
BSX	B	0.04%	0.19%	0.04%
BURL	B	0.01%	0.03%	0.01%
BX	B	0.04%	0.23%	0.04%
BXP	B	0.02%	0.02%	0.02%
C	C	0.38%	1.22%	0.38%
CAG	C	0.02%	0.05%	0.02%
CAH	C	0.12%	0.35%	0.12%
CARR	B	0.04%	0.12%	0.04%
CAT	B	0.58%	0.41%	0.41%
CB	B	0.66%	0.16%	0.16%
CCK	A	0.02%	0.07%	0.02%
CCL	C	0.01%	0.05%	0.01%
CDW	D	0.25%	0.05%	0.05%
CE	F	0.02%	0.07%	0.02%
CEG	C	0.03%	0.09%	0.03%
CFG	C	0.06%	0.06%	0.06%
CG	D	0.01%	0.02%	0.01%
CHD	D	0.14%	0.07%	0.07%
CHRD	F	0.02%	0.02%	0.02%
CHRW	B	0.02%	0.09%	0.02%
CHTR	D	0.08%	0.24%	0.08%
CI	C	0.27%	0.14%	0.14%
CINF	B	0.03%	0.02%	0.02%
CL	D	0.19%	0.33%	0.19%
CLX	C	0.01%	0.15%	0.01%
CMCSA	D	0.4%	0.24%	0.24%
CME	C	0.22%	0.2%	0.2%
CMG	C	0.22%	0.22%	0.22%
CMI	C	0.14%	0.11%	0.11%
COF	B	0.13%	0.42%	0.13%
COIN	F	0.01%	0.06%	0.01%
COP	D	0.16%	0.3%	0.16%
COST	B	1.35%	1.21%	1.21%
CPAY	B	0.01%	0.05%	0.01%
CPB	C	0.14%	0.01%	0.01%
CPRT	D	0.13%	0.19%	0.13%
CPT	B	0.01%	0.06%	0.01%
CRBG	D	0.02%	0.04%	0.02%
CRM	D	0.09%	0.35%	0.09%
CSCO	C	1.19%	0.42%	0.42%
CSL	B	0.01%	0.01%	0.01%
CSX	D	0.05%	0.08%	0.05%
CTAS	B	0.23%	0.18%	0.18%
CTLT	B	0.01%	0.02%	0.01%
CTRA	D	0.03%	0.02%	0.02%
CTVA	B	0.17%	0.03%	0.03%
CVS	D	0.32%	0.8%	0.32%
CVX	D	0.49%	0.79%	0.49%
DASH	C	0.01%	0.09%	0.01%
DD	B	0.04%	0.21%	0.04%
DECK	C	0.08%	0.17%	0.08%
DELL	D	0.05%	0.05%	0.05%
DFS	B	0.06%	0.08%	0.06%
DG	F	0.02%	0.05%	0.02%
DGX	B	0.06%	0.06%	0.06%
DHR	B	0.1%	0.27%	0.1%
DINO	F	0.03%	0.03%	0.03%
DKS	D	0.02%	0.09%	0.02%
DLR	B	0.03%	0.08%	0.03%
DLTR	F	0.02%	0.02%	0.02%
DOV	B	0.02%	0.02%	0.02%
DOW	D	0.07%	0.04%	0.04%
DPZ	F	0.06%	0.18%	0.06%
DRI	B	0.01%	0.03%	0.01%
DUK	C	0.64%	0.13%	0.13%
DVA	B	0.01%	0.18%	0.01%
EA	D	0.29%	0.09%	0.09%
EBAY	B	0.02%	0.34%	0.02%
ECL	B	0.03%	0.08%	0.03%
EFX	B	0.02%	0.09%	0.02%
ELS	C	0.0%	0.04%	0.0%
ELV	C	0.41%	0.08%	0.08%
EME	B	0.06%	0.03%	0.03%
EMN	B	0.02%	0.06%	0.02%
EMR	D	0.04%	0.15%	0.04%
ENTG	F	0.01%	0.04%	0.01%
EOG	D	0.14%	0.11%	0.11%
EQH	C	0.02%	0.07%	0.02%
EQIX	C	0.02%	0.03%	0.02%
ERIE	B	0.22%	0.09%	0.09%
ETN	C	0.04%	0.18%	0.04%
EVRG	B	0.02%	0.01%	0.01%
EXC	C	0.06%	0.12%	0.06%
EXPD	C	0.07%	0.07%	0.07%
EXR	B	0.03%	0.07%	0.03%
F	F	0.16%	0.33%	0.16%
FANG	D	0.22%	0.04%	0.04%
FAST	C	0.13%	0.1%	0.1%
FCNCA	D	0.29%	0.05%	0.05%
FCX	D	0.04%	0.09%	0.04%
FDS	C	0.05%	0.05%	0.05%
FFIV	B	0.21%	0.04%	0.04%
FICO	B	0.17%	0.22%	0.17%
FIS	B	0.03%	0.08%	0.03%
FITB	B	0.06%	0.05%	0.05%
FNF	B	0.02%	0.03%	0.02%
FOXA	B	0.02%	0.08%	0.02%
FTNT	C	0.01%	0.06%	0.01%
GD	B	0.08%	0.17%	0.08%
GDDY	C	0.29%	0.09%	0.09%
GE	B	0.11%	1.09%	0.11%
GEHC	C	0.03%	0.02%	0.02%
GGG	C	0.04%	0.04%	0.04%
GILD	B	0.41%	0.78%	0.41%
GIS	B	0.3%	0.11%	0.11%
GLPI	C	0.01%	0.07%	0.01%
GLW	C	0.13%	0.2%	0.13%
GM	C	0.27%	0.56%	0.27%
GOOGL	D	1.12%	1.17%	1.12%
GPC	D	0.02%	0.02%	0.02%
GS	C	0.25%	0.45%	0.25%
GWW	B	0.17%	0.17%	0.17%
H	C	0.0%	0.01%	0.0%
HAL	F	0.03%	0.04%	0.03%
HBAN	B	0.05%	0.03%	0.03%
HCA	B	0.07%	0.13%	0.07%
HD	B	0.33%	0.39%	0.33%
HEI	B	0.0%	0.04%	0.0%
HEI	B	0.0%	0.04%	0.0%
HIG	B	0.09%	0.06%	0.06%
HII	D	0.01%	0.02%	0.01%
HLT	B	0.01%	0.08%	0.01%
HOLX	B	0.08%	0.03%	0.03%
HOOD	C	0.0%	0.03%	0.0%
HPE	D	0.05%	0.2%	0.05%
HPQ	D	0.06%	0.27%	0.06%
HRL	C	0.09%	0.01%	0.01%
HSIC	C	0.01%	0.03%	0.01%
HST	C	0.01%	0.02%	0.01%
HSY	C	0.22%	0.06%	0.06%
HUBB	B	0.06%	0.08%	0.06%
HWM	B	0.01%	0.12%	0.01%
IBM	B	0.72%	1.32%	0.72%
ICE	C	0.15%	0.29%	0.15%
IDXX	C	0.15%	0.06%	0.06%
IEX	D	0.04%	0.08%	0.04%
IFF	B	0.02%	0.03%	0.02%
INCY	C	0.17%	0.01%	0.01%
INTC	F	0.15%	0.36%	0.15%
INTU	C	0.04%	0.26%	0.04%
INVH	C	0.01%	0.06%	0.01%
IP	B	0.03%	0.12%	0.03%
IPG	C	0.02%	0.07%	0.02%
IR	C	0.02%	0.09%	0.02%
IRM	C	0.01%	0.11%	0.01%
IT	B	0.13%	0.16%	0.13%
ITW	C	0.26%	0.08%	0.08%
JBHT	D	0.05%	0.02%	0.02%
JBL	D	0.02%	0.07%	0.02%
JKHY	B	0.04%	0.1%	0.04%
JNJ	C	1.8%	1.03%	1.03%
JNPR	B	0.18%	0.13%	0.13%
JPM	D	0.9%	0.9%	0.9%
K	B	0.3%	0.1%	0.1%
KDP	B	0.28%	0.06%	0.06%
KEY	B	0.04%	0.02%	0.02%
KHC	C	0.21%	0.16%	0.16%
KKR	B	0.04%	0.13%	0.04%
KLAC	D	0.36%	0.23%	0.23%
KMB	D	0.11%	0.16%	0.11%
KMI	B	0.05%	0.08%	0.05%
KNX	C	0.04%	0.01%	0.01%
KO	C	0.96%	0.6%	0.6%
KR	C	0.31%	0.34%	0.31%
L	C	0.12%	0.08%	0.08%
LDOS	B	0.02%	0.08%	0.02%
LEN	B	0.07%	0.08%	0.07%
LHX	C	0.04%	0.19%	0.04%
LII	B	0.01%	0.23%	0.01%
LLY	C	2.43%	2.48%	2.43%
LMT	C	0.79%	0.52%	0.52%
LOW	B	0.12%	0.23%	0.12%
LPLA	D	0.05%	0.07%	0.05%
LRCX	F	0.34%	0.27%	0.27%
LVS	D	0.01%	0.01%	0.01%
LW	D	0.03%	0.04%	0.03%
LYB	D	0.05%	0.21%	0.05%
MA	B	1.63%	0.79%	0.79%
MANH	B	0.07%	0.03%	0.03%
MAR	C	0.02%	0.11%	0.02%
MAS	B	0.01%	0.06%	0.01%
MCD	B	0.52%	0.4%	0.4%
MCK	F	0.53%	0.51%	0.51%
MCO	B	0.21%	0.03%	0.03%
MDLZ	B	0.26%	0.22%	0.22%
MET	B	0.08%	0.36%	0.08%
META	B	2.24%	2.02%	2.02%
MKC	C	0.01%	0.08%	0.01%
MKL	C	0.14%	0.03%	0.03%
MKTX	C	0.03%	0.02%	0.02%
MLM	D	0.02%	0.06%	0.02%
MMC	C	0.72%	0.19%	0.19%
MMM	B	0.29%	0.41%	0.29%
MNST	D	0.12%	0.06%	0.06%
MO	C	0.06%	0.52%	0.06%
MOH	D	0.16%	0.03%	0.03%
MOS	F	0.03%	0.04%	0.03%
MPC	F	0.34%	0.64%	0.34%
MPWR	C	0.12%	0.08%	0.08%
MRK	D	0.56%	0.87%	0.56%
MRO	C	0.03%	0.1%	0.03%
MSCI	C	0.01%	0.07%	0.01%
MSI	B	0.58%	0.15%	0.15%
MTB	B	0.07%	0.03%	0.03%
MTD	D	0.01%	0.08%	0.01%
MU	F	0.07%	0.15%	0.07%
NBIX	F	0.12%	0.04%	0.04%
NDAQ	A	0.02%	0.02%	0.02%
NDSN	C	0.01%	0.04%	0.01%
NEM	B	0.25%	0.09%	0.09%
NFLX	B	0.12%	0.44%	0.12%
NKE	D	0.3%	0.04%	0.04%
NOC	B	0.59%	0.23%	0.23%
NOW	B	0.24%	0.37%	0.24%
NRG	C	0.02%	0.07%	0.02%
NTAP	D	0.16%	0.08%	0.08%
NTRS	A	0.03%	0.02%	0.02%
NUE	F	0.07%	0.08%	0.07%
NVDA	D	2.36%	1.6%	1.6%
NVR	B	0.11%	0.07%	0.07%
NWSA	D	0.01%	0.06%	0.01%
OC	D	0.02%	0.07%	0.02%
ODFL	D	0.12%	0.02%	0.02%
OKE	B	0.05%	0.08%	0.05%
OKTA	F	0.0%	0.03%	0.0%
OMC	B	0.07%	0.06%	0.06%
ORCL	C	0.48%	1.13%	0.48%
ORLY	C	0.25%	0.18%	0.18%
OTIS	C	0.04%	0.07%	0.04%
PANW	D	0.29%	0.25%	0.25%
PARA	F	0.03%	0.02%	0.02%
PAYX	C	0.16%	0.03%	0.03%
PCAR	D	0.05%	0.08%	0.05%
PEG	B	0.04%	0.05%	0.04%
PEP	C	1.15%	0.62%	0.62%
PFE	C	0.39%	0.53%	0.39%
PFG	B	0.03%	0.01%	0.01%
PG	C	0.62%	0.88%	0.62%
PGR	B	0.66%	0.5%	0.5%
PH	B	0.03%	0.13%	0.03%
PHM	B	0.12%	0.17%	0.12%
PINS	F	0.0%	0.04%	0.0%
PKG	B	0.08%	0.05%	0.05%
PM	C	0.11%	0.56%	0.11%
PNC	B	0.15%	0.1%	0.1%
PNR	B	0.01%	0.08%	0.01%
POOL	C	0.04%	0.07%	0.04%
PPG	D	0.03%	0.04%	0.03%
PRU	C	0.08%	0.25%	0.08%
PSA	B	0.16%	0.03%	0.03%
PSTG	F	0.0%	0.03%	0.0%
PSX	F	0.14%	0.54%	0.14%
PTC	D	0.17%	0.05%	0.05%
PWR	B	0.02%	0.13%	0.02%
QCOM	D	0.58%	0.62%	0.58%
QRVO	F	0.01%	0.01%	0.01%
RCL	B	0.01%	0.08%	0.01%
REGN	C	0.4%	0.45%	0.4%
RJF	C	0.03%	0.01%	0.01%
RMD	C	0.1%	0.13%	0.1%
ROL	C	0.17%	0.05%	0.05%
ROP	C	0.48%	0.06%	0.06%
ROST	C	0.03%	0.07%	0.03%
RPM	B	0.01%	0.11%	0.01%
RPRX	C	0.01%	0.03%	0.01%
RS	D	0.02%	0.08%	0.02%
RSG	D	0.54%	0.13%	0.13%
SBAC	C	0.01%	0.03%	0.01%
SBUX	C	0.06%	0.06%	0.06%
SCHW	D	0.06%	0.16%	0.06%
SEIC	C	0.03%	0.07%	0.03%
SHW	B	0.26%	0.21%	0.21%
SJM	C	0.02%	0.03%	0.02%
SLB	F	0.05%	0.09%	0.05%
SMCI	F	0.06%	0.14%	0.06%
SNAP	F	0.0%	0.02%	0.0%
SPG	B	0.03%	0.15%	0.03%
SPGI	B	0.07%	0.06%	0.06%
STE	C	0.01%	0.12%	0.01%
STLD	F	0.03%	0.04%	0.03%
STZ	D	0.02%	0.04%	0.02%
SUI	B	0.01%	0.05%	0.01%
SYF	C	0.05%	0.29%	0.05%
SYY	D	0.05%	0.07%	0.05%
T	C	0.67%	1.23%	0.67%
TAP	D	0.02%	0.08%	0.02%
TDG	B	0.01%	0.15%	0.01%
TER	D	0.06%	0.03%	0.03%
TFC	C	0.14%	0.09%	0.09%
TFX	C	0.01%	0.03%	0.01%
TGT	C	0.1%	0.68%	0.1%
TJX	B	0.57%	0.34%	0.34%
TMUS	C	0.69%	0.31%	0.31%
TRGP	B	0.02%	0.13%	0.02%
TROW	D	0.08%	0.08%	0.08%
TRV	C	0.44%	0.32%	0.32%
TSCO	C	0.09%	0.07%	0.07%
TSN	C	0.29%	0.22%	0.22%
TTC	D	0.03%	0.07%	0.03%
TTWO	C	0.01%	0.07%	0.01%
TW	B	0.06%	0.05%	0.05%
TXN	C	1.07%	0.21%	0.21%
TXT	D	0.02%	0.03%	0.02%
TYL	C	0.01%	0.08%	0.01%
UBER	C	0.18%	0.21%	0.18%
UDR	C	0.01%	0.03%	0.01%
UHAL	A	0.01%	0.01%	0.01%
UHAL	A	0.01%	0.03%	0.01%
UHS	B	0.02%	0.09%	0.02%
ULTA	D	0.08%	0.04%	0.04%
UNP	C	0.09%	0.48%	0.09%
UPS	D	0.11%	0.19%	0.11%
URI	B	0.04%	0.09%	0.04%
USB	B	0.15%	0.11%	0.11%
UTHR	C	0.1%	0.16%	0.1%
V	C	1.8%	0.86%	0.86%
VLO	F	0.14%	0.54%	0.14%
VMC	D	0.01%	0.06%	0.01%
VRSK	D	0.15%	0.2%	0.15%
VRSN	D	0.23%	0.04%	0.04%
VRTX	D	0.61%	0.21%	0.21%
VST	C	0.01%	0.26%	0.01%
VTRS	D	0.05%	0.13%	0.05%
VZ	B	0.88%	1.01%	0.88%
WAB	B	0.02%	0.04%	0.02%
WAT	C	0.06%	0.05%	0.05%
WBA	F	0.07%	0.14%	0.07%
WDC	D	0.02%	0.15%	0.02%
WELL	C	0.03%	0.12%	0.03%
WFC	D	0.36%	1.4%	0.36%
WM	D	0.51%	0.23%	0.23%
WMB	B	0.12%	0.08%	0.08%
WMT	C	0.92%	1.87%	0.92%
WPC	C	0.01%	0.05%	0.01%
WRB	C	0.12%	0.02%	0.02%
WSM	D	0.06%	0.21%	0.06%
WSO	C	0.05%	0.2%	0.05%
WST	D	0.06%	0.04%	0.04%
WTW	C	0.15%	0.05%	0.05%
XOM	C	0.77%	0.99%	0.77%
XYL	C	0.02%	0.11%	0.02%
YUM	D	0.19%	0.1%	0.1%
ZTS	C	0.27%	0.04%	0.04%

QUS Overweight 181 Positions Relative to MFUS

Symbol	Grade	Weight
MSFT	C	2.86%
UNH	C	2.27%
GOOG	D	1.04%
SO	B	0.56%
WCN	D	0.55%
HON	D	0.48%
ED	C	0.46%
ACGL	C	0.42%
BLK	B	0.4%
CTSH	C	0.4%
CBOE	C	0.31%
WEC	C	0.29%
KEYS	C	0.27%
CDNS	D	0.27%
SNPS	D	0.26%
TT	B	0.24%
DHI	B	0.23%
HUM	F	0.23%
AEP	C	0.21%
TDY	B	0.2%
TSLA	C	0.2%
RTX	C	0.19%
XEL	B	0.19%
EG	C	0.18%
LIN	B	0.17%
TEL	D	0.17%
GRMN	D	0.17%
MDT	C	0.16%
ABT	C	0.16%
WDAY	D	0.15%
ADI	C	0.15%
MS	D	0.15%
DIS	D	0.14%
D	C	0.14%
TMO	B	0.13%
EW	F	0.13%
FDX	C	0.12%
MCHP	F	0.12%
DE	B	0.11%
WBD	D	0.11%
NEE	C	0.11%
CNC	D	0.11%
ROK	D	0.1%
DTE	C	0.1%
OXY	F	0.1%
AEE	C	0.1%
LULU	D	0.1%
VEEV	C	0.09%
VLTO	C	0.09%
PLD	C	0.09%
CMS	C	0.09%
MELI	B	0.08%
ALNY	C	0.08%
AMD	D	0.07%
STX	C	0.07%
PCG	C	0.06%
SRE	C	0.06%
SWKS	D	0.06%
SOLV	C	0.06%
HUBS	D	0.06%
PYPL	B	0.06%
AMT	C	0.05%
ENPH	D	0.05%
EIX	C	0.05%
LNG	C	0.05%
O	C	0.05%
NSC	C	0.05%
LNT	B	0.05%
RF	B	0.05%
CRWD	D	0.05%
APA	F	0.05%
BG	D	0.05%
SYK	C	0.05%
SNA	C	0.05%
STT	A	0.05%
TPL	B	0.05%
EPAM	F	0.04%
GPN	D	0.04%
ATO	B	0.04%
ALLE	B	0.04%
VICI	C	0.04%
ETR	B	0.04%
KVUE	C	0.04%
APD	B	0.04%
JCI	B	0.04%
CBRE	A	0.04%
DVN	F	0.04%
ON	D	0.03%
PPL	C	0.03%
IQV	C	0.03%
FE	C	0.03%
APTV	D	0.03%
BA	F	0.03%
CHK	D	0.03%
SWK	B	0.03%
PAYC	D	0.03%
CF	C	0.03%
OVV	F	0.03%
ES	C	0.03%
KMX	D	0.03%
NXPI	F	0.03%
CCI	C	0.03%
WY	C	0.03%
GEV	B	0.03%
ISRG	B	0.03%
FSLR	C	0.03%
ABNB	D	0.02%
SSNC	B	0.02%
ALB	D	0.02%
MRVL	C	0.02%
NI	B	0.02%
FTV	C	0.02%
LKQ	F	0.02%
VTR	C	0.02%
KIM	C	0.02%
AMCR	B	0.02%
AWK	B	0.02%
CNP	C	0.02%
HES	F	0.02%
J	C	0.02%
AME	C	0.02%
EQR	B	0.02%
AVB	B	0.02%
ZBH	F	0.02%
EQT	D	0.02%
ARE	C	0.02%
SQ	D	0.02%
SW	B	0.02%
MRNA	F	0.02%
CNH	D	0.02%
VRT	C	0.01%
LUV	C	0.01%
LYV	B	0.01%
Z	B	0.01%
BIO	C	0.01%
MTCH	C	0.01%
ILMN	C	0.01%
RIVN	F	0.01%
TWLO	D	0.01%
MGM	F	0.01%
WLK	D	0.01%
CSGP	D	0.01%
CRL	F	0.01%
FOX	B	0.01%
DAL	C	0.01%
WTRG	D	0.01%
TRMB	C	0.01%
TRU	B	0.01%
ZBRA	B	0.01%
REG	C	0.01%
ESS	B	0.01%
ZM	C	0.01%
EXPE	C	0.01%
EL	F	0.01%
MAA	B	0.01%
DOC	C	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%
DKNG	C	0.0%
MSTR	D	0.0%
DDOG	D	0.0%
BSY	D	0.0%
DOCU	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%
DXCM	F	0.0%
ROKU	C	0.0%
EXAS	C	0.0%
PLTR	B	0.0%
TTD	B	0.0%
TECH	C	0.0%

QUS Underweight 382 Positions Relative to MFUS

Symbol	Grade	Weight
THC	A	-0.27%
ANF	D	-0.26%
SFM	B	-0.19%
MUSA	D	-0.17%
CASY	D	-0.15%
EVR	A	-0.12%
GPK	B	-0.1%
TOL	B	-0.1%
FTI	D	-0.1%
UNM	B	-0.1%
CRS	B	-0.1%
GPI	B	-0.09%
USFD	B	-0.09%
AEO	F	-0.09%
JXN	A	-0.09%
HRB	C	-0.09%
CACI	B	-0.09%
WCC	D	-0.08%
OGN	D	-0.08%
LECO	F	-0.08%
WU	F	-0.08%
HLI	B	-0.08%
MTH	A	-0.08%
ALSN	B	-0.08%
ITT	B	-0.08%
EHC	C	-0.08%
LUMN	C	-0.08%
BWXT	D	-0.08%
TMHC	A	-0.08%
AN	D	-0.08%
CW	B	-0.08%
LSTR	D	-0.08%
ABG	D	-0.07%
ARW	C	-0.07%
CMC	D	-0.07%
CALM	A	-0.07%
SLG	B	-0.07%
OSK	F	-0.07%
FCN	D	-0.07%
GAP	F	-0.07%
ATR	B	-0.07%
AYI	B	-0.07%
MMS	C	-0.06%
TPX	C	-0.06%
PK	D	-0.06%
BERY	B	-0.06%
KD	D	-0.06%
R	A	-0.06%
VNO	B	-0.06%
MSM	D	-0.06%
HCC	F	-0.06%
KSS	F	-0.06%
CHE	C	-0.06%
BCC	B	-0.06%
BC	C	-0.06%
TEX	F	-0.06%
NSIT	D	-0.06%
X	F	-0.06%
SLM	D	-0.06%
INGR	B	-0.06%
SCI	B	-0.06%
SEE	D	-0.06%
GNTX	F	-0.06%
PBF	F	-0.06%
CRI	D	-0.06%
MLI	A	-0.06%
THO	D	-0.06%
CNX	B	-0.06%
LPX	B	-0.06%
UFPI	C	-0.06%
AMG	C	-0.05%
ATGE	C	-0.05%
CBT	B	-0.05%
CRUS	D	-0.05%
BWA	D	-0.05%
SKYW	C	-0.05%
ATI	C	-0.05%
WEN	C	-0.05%
TKR	D	-0.05%
MUR	F	-0.05%
RGA	C	-0.05%
LNC	D	-0.05%
LAMR	B	-0.05%
LOPE	D	-0.05%
MTN	D	-0.05%
VIRT	C	-0.05%
TXRH	C	-0.05%
NYT	C	-0.05%
NXST	D	-0.05%
IBKR	B	-0.05%
SANM	D	-0.05%
FL	D	-0.05%
POST	C	-0.05%
FIX	B	-0.05%
URBN	F	-0.05%
G	C	-0.05%
FLEX	C	-0.05%
JLL	B	-0.05%
EXP	B	-0.05%
MHO	B	-0.05%
KTB	B	-0.05%
IVZ	B	-0.05%
TPH	C	-0.05%
CMA	B	-0.04%
APLE	D	-0.04%
GEO	F	-0.04%
SAIA	D	-0.04%
OLN	D	-0.04%
HUBG	C	-0.04%
WTM	D	-0.04%
RL	C	-0.04%
FHI	A	-0.04%
TGNA	D	-0.04%
COLD	D	-0.04%
GATX	D	-0.04%
VC	F	-0.04%
CNO	B	-0.04%
SON	C	-0.04%
AR	F	-0.04%
XRAY	D	-0.04%
PR	F	-0.04%
RGLD	C	-0.04%
GVA	B	-0.04%
RRC	D	-0.04%
PVH	F	-0.04%
GNW	B	-0.04%
MAN	C	-0.04%
SEB	D	-0.04%
ABM	D	-0.04%
AGNC	B	-0.04%
FLO	C	-0.04%
MOG.A	B	-0.04%
DCI	C	-0.04%
MTG	B	-0.04%
BTU	D	-0.04%
HXL	F	-0.04%
THG	B	-0.04%
SRCL	A	-0.04%
KBH	A	-0.04%
WHR	D	-0.04%
BDC	B	-0.04%
LANC	D	-0.04%
GNRC	D	-0.04%
SIG	C	-0.04%
SMG	C	-0.04%
NOV	F	-0.04%
AVT	C	-0.04%
M	F	-0.04%
COOP	C	-0.04%
NFG	B	-0.04%
PAG	D	-0.04%
CLH	A	-0.04%
CUBE	B	-0.04%
SLGN	B	-0.04%
MAC	B	-0.04%
NEU	D	-0.03%
SSD	D	-0.03%
ZION	D	-0.03%
COKE	C	-0.03%
VVV	D	-0.03%
FR	B	-0.03%
PRG	B	-0.03%
NAVI	C	-0.03%
MC	B	-0.03%
RLI	B	-0.03%
DK	F	-0.03%
BKU	C	-0.03%
BRKR	D	-0.03%
AWI	B	-0.03%
PRIM	B	-0.03%
YELP	F	-0.03%
GBX	C	-0.03%
SM	F	-0.03%
MDU	C	-0.03%
WH	B	-0.03%
HP	F	-0.03%
SHOO	B	-0.03%
DBRG	D	-0.03%
BFAM	C	-0.03%
RUSHA	C	-0.03%
AMKR	F	-0.03%
MORN	C	-0.03%
BJ	D	-0.03%
WTS	C	-0.03%
SBH	B	-0.03%
DLB	D	-0.03%
HBI	B	-0.03%
LEA	F	-0.03%
TRN	D	-0.03%
AVA	C	-0.03%
PDCO	F	-0.03%
GT	F	-0.03%
BLD	D	-0.03%
SEM	D	-0.03%
SLVM	B	-0.03%
TDS	C	-0.03%
ACA	B	-0.03%
JEF	B	-0.03%
FND	C	-0.03%
DOX	C	-0.03%
BHF	F	-0.03%
MSA	D	-0.03%
XPO	D	-0.03%
CVLT	B	-0.03%
VSH	F	-0.03%
JHG	B	-0.03%
ASO	C	-0.03%
OMF	D	-0.03%
APG	D	-0.03%
GMS	D	-0.03%
AROC	D	-0.03%
CPNG	B	-0.03%
DDS	F	-0.03%
JWN	C	-0.03%
OI	D	-0.03%
LEG	D	-0.02%
TTEK	C	-0.02%
VFC	C	-0.02%
APOG	B	-0.02%
NWL	C	-0.02%
HNI	C	-0.02%
LXP	B	-0.02%
SNDR	B	-0.02%
ODP	F	-0.02%
ANDE	D	-0.02%
RHI	D	-0.02%
DORM	B	-0.02%
CHDN	C	-0.02%
EWBC	D	-0.02%
OSIS	D	-0.02%
GES	F	-0.02%
XRX	D	-0.02%
CC	F	-0.02%
IGT	D	-0.02%
SAM	F	-0.02%
MCY	D	-0.02%
GWRE	A	-0.02%
LBRDK	F	-0.02%
XHR	B	-0.02%
AIT	A	-0.02%
AGCO	D	-0.02%
NTCT	C	-0.02%
AA	D	-0.02%
PMT	C	-0.02%
DXC	C	-0.02%
SXT	C	-0.02%
GHC	B	-0.02%
EPC	F	-0.02%
REZI	D	-0.02%
KBR	D	-0.02%
NSP	F	-0.02%
VSTO	C	-0.02%
PSN	B	-0.02%
WMS	D	-0.02%
FLS	D	-0.02%
RLJ	D	-0.02%
PFSI	C	-0.02%
GEF	D	-0.02%
HAE	F	-0.02%
GMED	D	-0.02%
SKX	D	-0.02%
AIR	C	-0.02%
KMPR	D	-0.02%
LNW	B	-0.02%
ORA	C	-0.02%
COHR	C	-0.02%
CXW	F	-0.02%
PLXS	A	-0.02%
APAM	C	-0.02%
AXTA	B	-0.02%
TDC	F	-0.02%
PNM	B	-0.02%
FAF	B	-0.02%
WERN	D	-0.02%
EXEL	C	-0.02%
DRH	C	-0.02%
PINC	C	-0.02%
LZB	C	-0.02%
MASI	F	-0.02%
VNT	F	-0.02%
SHO	C	-0.02%
STC	B	-0.02%
HOG	C	-0.02%
BKE	B	-0.02%
ADNT	F	-0.02%
UNF	C	-0.02%
RYN	C	-0.02%
NVT	D	-0.02%
THS	C	-0.02%
MATX	B	-0.02%
AAP	F	-0.01%
SCHL	D	-0.01%
SCL	D	-0.01%
ARCH	F	-0.01%
JAZZ	D	-0.01%
LYFT	D	-0.01%
CACC	F	-0.01%
KALU	F	-0.01%
UAL	C	-0.01%
SCCO	D	-0.01%
SWN	D	-0.01%
ECPG	D	-0.01%
MKSI	F	-0.01%
WGO	D	-0.01%
TPR	C	-0.01%
UVV	D	-0.01%
ESI	D	-0.01%
HELE	D	-0.01%
HPP	D	-0.01%
HUN	D	-0.01%
MTDR	F	-0.01%
MLKN	D	-0.01%
SWX	C	-0.01%
ELAN	D	-0.01%
WOR	D	-0.01%
BECN	D	-0.01%
JELD	D	-0.01%
CNM	F	-0.01%
SYNA	F	-0.01%
ESAB	C	-0.01%
SIGI	D	-0.01%
ARCB	D	-0.01%
CENTA	F	-0.01%
JBGS	C	-0.01%
FLR	D	-0.01%
AMED	C	-0.01%
FHN	D	-0.01%
FELE	C	-0.01%
DTM	B	-0.01%
WAFD	C	-0.01%
SPB	C	-0.01%
WMK	C	-0.01%
BRC	C	-0.01%
DY	B	-0.01%
CADE	C	-0.01%
WTFC	B	-0.01%
KN	D	-0.01%
PECO	B	-0.01%
CR	C	-0.01%
ONB	C	-0.01%
CBSH	C	-0.01%
CBRL	D	-0.01%
CSGS	C	-0.01%
SAIC	C	-0.01%
STRA	F	-0.01%
SF	A	-0.01%
TTMI	D	-0.01%
CPRI	D	-0.01%
CVI	F	-0.01%
DEI	B	-0.01%
AMWD	D	-0.01%
WBS	D	-0.01%
TREX	D	-0.01%
WWD	D	-0.01%
LAUR	C	-0.01%
OMI	D	-0.01%
SAH	D	-0.01%
NNI	B	-0.01%
RBC	C	-0.01%
LAD	D	-0.01%
IOSP	D	-0.01%
MHK	C	-0.01%
LADR	B	-0.01%
GOLF	D	-0.01%
KEX	C	-0.01%
PSMT	B	-0.01%
TNET	F	-0.01%
CWEN	C	-0.01%
SNV	C	-0.01%
BHE	D	-0.01%
DAN	F	-0.01%
OLLI	C	-0.01%
PTEN	F	-0.01%
ESNT	B	-0.01%
FYBR	C	-0.01%
PHIN	B	-0.01%
SCS	D	-0.01%
DNOW	D	-0.01%
WAL	B	-0.01%
SATS	C	-0.01%
NOMD	B	-0.0%
WOLF	F	-0.0%