QUS vs. NZAC ETF Comparison

Comparison of SPDR MSCI USA Quality Mix ETF (QUS) to SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC)

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

$151.02

Average Daily Volume

25,075

Number of Holdings ^*

588

* may have additional holdings in another (foreign) market

NZAC

SPDR MSCI ACWI Climate Paris Aligned ETF

NZAC Description

The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index is designed to exceed the minimum standards for a "Paris-Aligned Benchmark" under the EU BMR. A Paris-Aligned Benchmark is designed to align with a principal objective of the Paris Agreement to limit the increase in the global average temperature to well below 2 degrees Celsius above pre-industrial levels.

Grade (RS Rating)

Last Trade

$35.11

Average Daily Volume

13,189

Number of Holdings ^*

368

* may have additional holdings in another (foreign) market

Performance

Period	QUS	NZAC
30 Days	4.27%	4.84%
60 Days	1.48%	-0.76%
90 Days	3.91%	2.84%
12 Months	23.73%	21.52%

339 Overlapping Holdings

	Symbol	Grade	Weight in QUS	Weight in NZAC	Overlap
	A	B	0.12%	0.06%	0.06%
	AAPL	C	3.33%	4.56%	3.33%
	ABBV	B	0.6%	0.41%	0.41%
	ABBV	B	0.6%	0.62%	0.6%
	ABNB	F	0.02%	0.04%	0.02%
	ABT	A	0.15%	0.19%	0.15%
	ACGL	B	0.42%	0.14%	0.14%
	ACM	B	0.02%	0.34%	0.02%
	ACN	A	1.15%	0.37%	0.37%
	ADBE	B	0.81%	0.4%	0.4%
	ADI	C	0.15%	0.52%	0.15%
	ADP	B	0.5%	0.19%	0.19%
	ADSK	B	0.14%	0.08%	0.08%
	AFG	A	0.15%	0.07%	0.07%
	AFL	B	0.22%	0.28%	0.22%
	AIG	D	0.12%	0.14%	0.12%
	AIZ	B	0.11%	0.08%	0.08%
	AJG	A	0.46%	0.07%	0.07%
	ALB	F	0.01%	0.01%	0.01%
	ALGN	F	0.01%	0.03%	0.01%
	ALL	B	0.06%	0.14%	0.06%
	ALLE	B	0.04%	0.09%	0.04%
	ALLY	C	0.03%	0.02%	0.02%
	ALNY	C	0.09%	0.04%	0.04%
	AMAT	F	0.56%	0.14%	0.14%
	AMD	F	0.07%	0.29%	0.07%
	AME	D	0.02%	0.15%	0.02%
	AMGN	C	0.32%	0.25%	0.25%
	AMP	B	0.03%	0.13%	0.03%
	AMT	A	0.04%	0.12%	0.04%
	AMZN	D	0.59%	2.03%	0.59%
	ANET	D	0.36%	0.06%	0.06%
	ANSS	D	0.01%	0.01%	0.01%
	AON	A	0.19%	0.1%	0.1%
	APH	D	0.69%	0.11%	0.11%
	APO	D	0.02%	0.12%	0.02%
	AVB	B	0.02%	0.12%	0.02%
	AVGO	D	0.57%	1.07%	0.57%
	AVTR	B	0.02%	0.04%	0.02%
	AXON	B	0.0%	0.04%	0.0%
	AXP	B	0.1%	0.33%	0.1%
	AZO	B	0.38%	0.1%	0.1%
	BAC	D	0.61%	0.38%	0.38%
	BAH	B	0.21%	0.03%	0.03%
	BAX	A	0.02%	0.03%	0.02%
	BBWI	F	0.01%	0.01%	0.01%
	BDX	D	0.26%	0.12%	0.12%
	BIIB	D	0.03%	0.04%	0.03%
	BIO	A	0.01%	0.01%	0.01%
	BK	B	0.08%	0.11%	0.08%
	BKNG	C	0.03%	0.19%	0.03%
	BLK	B	0.4%	0.24%	0.24%
	BMRN	D	0.12%	0.02%	0.02%
	BMY	B	0.31%	0.21%	0.21%
	BR	C	0.03%	0.08%	0.03%
	BRK.A	B	1.11%	0.39%	0.39%
	BRO	A	0.01%	0.05%	0.01%
	BSX	A	0.04%	0.28%	0.04%
	BURL	B	0.01%	0.03%	0.01%
	BX	B	0.04%	0.15%	0.04%
	BXP	A	0.01%	0.06%	0.01%
	C	D	0.41%	0.01%	0.01%
	CARR	B	0.03%	0.03%	0.03%
	CB	A	0.64%	0.23%	0.23%
	CBOE	A	0.31%	0.03%	0.03%
	CBRE	B	0.04%	0.16%	0.04%
	CCI	A	0.02%	0.07%	0.02%
	CDW	D	0.25%	0.17%	0.17%
	CEG	D	0.03%	0.03%	0.03%
	CG	D	0.01%	0.01%	0.01%
	CHD	A	0.14%	0.09%	0.09%
	CHTR	C	0.08%	0.07%	0.07%
	CINF	B	0.03%	0.06%	0.03%
	CLX	A	0.01%	0.01%	0.01%
	CMCSA	C	0.4%	0.24%	0.24%
	CME	A	0.22%	0.12%	0.12%
	CMG	D	0.21%	0.07%	0.07%
	COF	C	0.13%	0.11%	0.11%
	COIN	F	0.01%	0.02%	0.01%
	CPAY	B	0.01%	0.04%	0.01%
	CPRT	D	0.13%	0.04%	0.04%
	CRM	D	0.1%	0.34%	0.1%
	CRWD	F	0.05%	0.01%	0.01%
	CSCO	B	1.19%	0.35%	0.35%
	CSGP	C	0.01%	0.03%	0.01%
	CSX	D	0.05%	0.09%	0.05%
	CTAS	B	0.22%	0.04%	0.04%
	CTLT	A	0.01%	0.02%	0.01%
	CTSH	B	0.4%	0.08%	0.08%
	CZR	D	0.01%	0.01%	0.01%
	DASH	B	0.01%	0.02%	0.01%
	DE	B	0.1%	0.14%	0.1%
	DFS	C	0.06%	0.07%	0.06%
	DGX	B	0.06%	0.02%	0.02%
	DHI	B	0.22%	0.07%	0.07%
	DHR	B	0.1%	0.22%	0.1%
	DIS	F	0.14%	0.23%	0.14%
	DLR	D	0.03%	0.33%	0.03%
	DLTR	F	0.03%	0.04%	0.03%
	DOC	B	0.01%	0.01%	0.01%
	DOCU	A	0.0%	0.01%	0.0%
	DXCM	F	0.0%	0.03%	0.0%
	EA	C	0.29%	0.01%	0.01%
	EBAY	A	0.02%	0.13%	0.02%
	ECL	B	0.03%	0.06%	0.03%
	EFX	B	0.02%	0.03%	0.02%
	EG	B	0.19%	0.03%	0.03%
	EIX	A	0.05%	0.84%	0.05%
	EL	F	0.02%	0.05%	0.02%
	ELV	B	0.41%	0.24%	0.24%
	ENPH	D	0.05%	0.11%	0.05%
	EPAM	C	0.03%	0.01%	0.01%
	EQH	C	0.02%	0.09%	0.02%
	EQIX	B	0.02%	0.3%	0.02%
	EQR	B	0.02%	0.07%	0.02%
	ERIE	A	0.21%	0.04%	0.04%
	ESS	B	0.01%	0.1%	0.01%
	ETN	D	0.04%	0.24%	0.04%
	ETSY	F	0.0%	0.02%	0.0%
	EW	F	0.13%	0.11%	0.11%
	EXAS	B	0.0%	0.01%	0.0%
	EXR	B	0.02%	0.05%	0.02%
	FAST	D	0.13%	0.14%	0.13%
	FDS	C	0.04%	0.01%	0.01%
	FFIV	B	0.19%	0.15%	0.15%
	FIS	A	0.03%	0.06%	0.03%
	FOX	B	0.01%	0.03%	0.01%
	FOXA	B	0.02%	0.03%	0.02%
	FSLR	C	0.03%	0.2%	0.03%
	FTNT	B	0.01%	0.07%	0.01%
	FTV	D	0.02%	0.09%	0.02%
	GDDY	C	0.31%	0.03%	0.03%
	GILD	A	0.39%	0.06%	0.06%
	GIS	A	0.29%	0.1%	0.1%
	GLW	C	0.13%	0.18%	0.13%
	GOOG	D	1.08%	1.39%	1.08%
	GOOGL	D	1.16%	0.99%	0.99%
	GPN	C	0.03%	0.04%	0.03%
	GRMN	B	0.18%	0.07%	0.07%
	GS	C	0.26%	0.05%	0.05%
	GWW	C	0.17%	0.18%	0.17%
	HBAN	B	0.05%	0.02%	0.02%
	HD	B	0.33%	0.54%	0.33%
	HEI	B	0.0%	0.02%	0.0%
	HEI	B	0.0%	0.02%	0.0%
	HIG	B	0.09%	0.12%	0.09%
	HLT	C	0.01%	0.02%	0.01%
	HOLX	A	0.08%	0.05%	0.05%
	HPE	D	0.06%	0.14%	0.06%
	HSIC	C	0.01%	0.05%	0.01%
	HSY	A	0.21%	0.06%	0.06%
	HUM	D	0.26%	0.08%	0.08%
	IBM	A	0.67%	0.58%	0.58%
	ICE	A	0.15%	0.13%	0.13%
	IDXX	D	0.14%	0.07%	0.07%
	IEX	D	0.04%	0.04%	0.04%
	ILMN	B	0.01%	0.04%	0.01%
	INCY	C	0.18%	0.01%	0.01%
	INTC	F	0.15%	0.15%	0.15%
	INTU	D	0.04%	0.28%	0.04%
	IPG	B	0.02%	0.02%	0.02%
	IQV	B	0.02%	0.13%	0.02%
	IRM	B	0.01%	0.06%	0.01%
	ISRG	B	0.03%	0.28%	0.03%
	IT	B	0.12%	0.03%	0.03%
	ITW	C	0.25%	0.31%	0.25%
	JKHY	B	0.04%	0.01%	0.01%
	JNJ	B	1.79%	0.66%	0.66%
	JNPR	A	0.18%	0.15%	0.15%
	JPM	B	0.98%	0.99%	0.98%
	KDP	A	0.27%	0.09%	0.09%
	KEYS	C	0.27%	0.07%	0.07%
	KKR	B	0.04%	0.11%	0.04%
	KLAC	D	0.39%	0.19%	0.19%
	KVUE	A	0.04%	0.01%	0.01%
	LEN	B	0.07%	0.07%	0.07%
	LIN	B	0.17%	0.08%	0.08%
	LKQ	D	0.02%	0.03%	0.02%
	LLY	B	2.5%	1.21%	1.21%
	LOW	B	0.12%	0.23%	0.12%
	LRCX	F	0.35%	0.12%	0.12%
	LULU	F	0.1%	0.07%	0.07%
	LYV	D	0.0%	0.03%	0.0%
	MA	B	1.56%	0.59%	0.59%
	MAR	D	0.01%	0.02%	0.01%
	MAS	B	0.01%	0.01%	0.01%
	MCD	A	0.5%	0.36%	0.36%
	MCO	B	0.22%	0.23%	0.22%
	MDT	A	0.15%	0.23%	0.15%
	MELI	B	0.08%	0.15%	0.08%
	MET	B	0.08%	0.2%	0.08%
	META	C	2.21%	1.53%	1.53%
	MKC	A	0.02%	0.01%	0.01%
	MKL	C	0.14%	0.07%	0.07%
	MKTX	A	0.03%	0.01%	0.01%
	MMC	A	0.71%	0.2%	0.2%
	MMM	B	0.29%	0.03%	0.03%
	MNST	D	0.11%	0.03%	0.03%
	MOH	C	0.15%	0.02%	0.02%
	MRK	D	0.57%	0.58%	0.57%
	MRNA	F	0.03%	0.03%	0.03%
	MRVL	D	0.02%	0.1%	0.02%
	MS	C	0.16%	0.2%	0.16%
	MSFT	D	2.73%	4.05%	2.73%
	MSI	B	0.57%	0.24%	0.24%
	MSTR	F	0.0%	0.01%	0.0%
	MTB	B	0.07%	0.08%	0.07%
	MTCH	B	0.01%	0.01%	0.01%
	MTD	C	0.01%	0.07%	0.01%
	MU	F	0.07%	0.09%	0.07%
	NBIX	D	0.12%	0.01%	0.01%
	NDAQ	A	0.02%	0.04%	0.02%
	NEM	B	0.24%	0.11%	0.11%
	NFLX	B	0.12%	0.41%	0.12%
	NKE	C	0.31%	0.13%	0.13%
	NOW	B	0.22%	0.32%	0.22%
	NSC	B	0.05%	0.04%	0.04%
	NTAP	D	0.18%	0.06%	0.06%
	NTRS	B	0.03%	0.04%	0.03%
	NVDA	D	2.49%	4.19%	2.49%
	NVR	B	0.11%	0.03%	0.03%
	NXPI	D	0.03%	0.01%	0.01%
	O	A	0.05%	0.07%	0.05%
	ODFL	D	0.12%	0.02%	0.02%
	OMC	B	0.07%	0.03%	0.03%
	ORCL	A	0.41%	0.45%	0.41%
	ORLY	B	0.25%	0.17%	0.17%
	PANW	B	0.29%	0.13%	0.13%
	PAYC	D	0.02%	0.01%	0.01%
	PAYX	B	0.15%	0.07%	0.07%
	PCAR	D	0.05%	0.05%	0.05%
	PFE	D	0.39%	0.22%	0.22%
	PGR	A	0.64%	0.22%	0.22%
	PH	B	0.03%	0.22%	0.03%
	PHM	B	0.11%	0.04%	0.04%
	PINS	F	0.0%	0.02%	0.0%
	PLD	B	0.09%	0.24%	0.09%
	PLTR	B	0.0%	0.03%	0.0%
	PNC	B	0.15%	0.17%	0.15%
	PNR	B	0.01%	0.19%	0.01%
	PODD	A	0.0%	0.02%	0.0%
	POOL	C	0.04%	0.02%	0.02%
	PPG	D	0.03%	0.11%	0.03%
	PRU	C	0.08%	0.14%	0.08%
	PSA	A	0.15%	0.11%	0.11%
	PWR	C	0.02%	0.2%	0.02%
	PYPL	B	0.06%	0.11%	0.06%
	QCOM	F	0.6%	0.29%	0.29%
	REG	A	0.01%	0.08%	0.01%
	REGN	B	0.41%	0.16%	0.16%
	RF	B	0.05%	0.06%	0.05%
	RIVN	F	0.01%	0.01%	0.01%
	RJF	D	0.03%	0.03%	0.03%
	RMD	A	0.1%	0.08%	0.08%
	ROK	D	0.1%	0.08%	0.08%
	ROL	B	0.17%	0.02%	0.02%
	ROP	C	0.47%	0.02%	0.02%
	ROST	B	0.03%	0.1%	0.03%
	RPRX	B	0.01%	0.02%	0.01%
	RS	D	0.02%	0.08%	0.02%
	SBAC	A	0.01%	0.03%	0.01%
	SBUX	B	0.06%	0.15%	0.06%
	SCHW	D	0.06%	0.15%	0.06%
	SEIC	D	0.03%	0.02%	0.02%
	SHW	B	0.25%	0.55%	0.25%
	SMCI	F	0.06%	0.02%	0.02%
	SNA	D	0.05%	0.01%	0.01%
	SNAP	F	0.0%	0.01%	0.0%
	SNOW	F	0.0%	0.02%	0.0%
	SPG	B	0.03%	0.14%	0.03%
	SPGI	A	0.07%	0.39%	0.07%
	SQ	D	0.02%	0.01%	0.01%
	SQ	D	0.02%	0.02%	0.02%
	STE	A	0.01%	0.03%	0.01%
	STLD	D	0.04%	0.01%	0.01%
	STT	B	0.05%	0.02%	0.02%
	STZ	B	0.02%	0.04%	0.02%
	SUI	A	0.01%	0.01%	0.01%
	SWKS	D	0.06%	0.01%	0.01%
	SYF	C	0.05%	0.07%	0.05%
	SYK	A	0.05%	0.23%	0.05%
	T	A	0.62%	0.16%	0.16%
	TDG	B	0.01%	0.14%	0.01%
	TDY	B	0.2%	0.1%	0.1%
	TECH	D	0.0%	0.01%	0.0%
	TEL	C	0.18%	0.11%	0.11%
	TER	D	0.06%	0.04%	0.04%
	TFX	A	0.01%	0.02%	0.01%
	TGT	B	0.11%	0.03%	0.03%
	TJX	B	0.57%	0.37%	0.37%
	TMO	A	0.13%	0.38%	0.13%
	TMUS	B	0.68%	0.11%	0.11%
	TRMB	D	0.01%	0.06%	0.01%
	TROW	D	0.09%	0.04%	0.04%
	TRU	B	0.01%	0.01%	0.01%
	TRV	A	0.41%	0.14%	0.14%
	TSLA	D	0.18%	0.86%	0.18%
	TT	B	0.23%	0.02%	0.02%
	TTD	B	0.0%	0.04%	0.0%
	TW	B	0.06%	0.01%	0.01%
	TXN	C	1.11%	0.28%	0.28%
	UBER	B	0.18%	0.17%	0.17%
	UHAL	B	0.01%	0.04%	0.01%
	ULTA	D	0.08%	0.05%	0.05%
	UNH	A	2.25%	0.77%	0.77%
	UNP	B	0.09%	0.23%	0.09%
	UPS	F	0.11%	0.07%	0.07%
	URI	C	0.04%	0.04%	0.04%
	USB	B	0.15%	0.11%	0.11%
	V	A	1.69%	0.66%	0.66%
	VEEV	A	0.08%	0.03%	0.03%
	VICI	A	0.04%	0.03%	0.03%
	VLTO	B	0.09%	0.03%	0.03%
	VMC	D	0.02%	0.01%	0.01%
	VRSK	C	0.15%	0.04%	0.04%
	VRSN	C	0.23%	0.01%	0.01%
	VRT	F	0.01%	0.02%	0.01%
	VRTX	D	0.62%	0.15%	0.15%
	VTR	A	0.02%	0.05%	0.02%
	VZ	B	0.82%	0.21%	0.21%
	WAB	B	0.02%	0.07%	0.02%
	WAT	B	0.06%	0.02%	0.02%
	WDAY	C	0.16%	0.03%	0.03%
	WELL	A	0.03%	0.14%	0.03%
	WFC	D	0.39%	0.2%	0.2%
	WM	D	0.51%	0.1%	0.1%
	WMT	A	0.87%	0.33%	0.33%
	WPC	A	0.01%	0.01%	0.01%
	WRB	B	0.12%	0.07%	0.07%
	WST	D	0.06%	0.02%	0.02%
	WTW	A	0.15%	0.07%	0.07%
	WYNN	D	0.0%	0.01%	0.0%
	XYL	D	0.02%	0.41%	0.02%
	YUM	B	0.19%	0.08%	0.08%
	Z	B	0.01%	0.01%	0.01%
	ZBH	D	0.02%	0.05%	0.02%
	ZBRA	C	0.01%	0.02%	0.01%
	ZM	B	0.01%	0.02%	0.01%
	ZTS	A	0.26%	0.17%	0.17%

QUS Overweight 251 Positions Relative to NZAC

	Symbol	Grade	Weight
	COST	B	1.31%
	PEP	A	1.13%
	KO	B	0.97%
	XOM	C	0.81%
	LMT	A	0.78%
	DUK	A	0.62%
	PG	A	0.61%
	NOC	B	0.58%
	CAT	C	0.58%
	MCK	D	0.57%
	RSG	B	0.55%
	WCN	B	0.55%
	SO	A	0.54%
	CVX	F	0.51%
	HON	D	0.48%
	ED	A	0.44%
	MPC	D	0.35%
	CVS	F	0.32%
	TSN	A	0.31%
	FCNCA	C	0.31%
	KR	C	0.3%
	K	A	0.3%
	SNPS	D	0.28%
	WEC	A	0.28%
	GM	B	0.28%
	CDNS	D	0.27%
	CI	B	0.27%
	MDLZ	A	0.25%
	FANG	D	0.25%
	KHC	A	0.21%
	AEP	A	0.2%
	RTX	B	0.19%
	CL	A	0.19%
	XEL	A	0.18%
	F	D	0.17%
	CTVA	B	0.17%
	PTC	D	0.17%
	AKAM	D	0.17%
	COP	D	0.17%
	FICO	A	0.16%
	CMI	B	0.15%
	TFC	B	0.15%
	VLO	D	0.15%
	EOG	D	0.15%
	PSX	D	0.15%
	D	A	0.14%
	CPB	A	0.14%
	MCHP	D	0.13%
	OXY	F	0.12%
	CNC	D	0.12%
	WMB	B	0.12%
	MPWR	C	0.12%
	L	B	0.12%
	FDX	D	0.12%
	KMB	A	0.11%
	GE	C	0.11%
	PM	A	0.11%
	CAH	A	0.11%
	ADM	D	0.1%
	DTE	B	0.1%
	WBD	D	0.1%
	UTHR	B	0.1%
	AEE	A	0.1%
	NEE	A	0.1%
	HRL	A	0.09%
	CMS	A	0.09%
	TSCO	B	0.09%
	BBY	A	0.09%
	PKG	B	0.08%
	DECK	C	0.08%
	BLDR	C	0.08%
	DPZ	D	0.07%
	EXPD	D	0.07%
	MANH	B	0.07%
	HPQ	D	0.07%
	STX	D	0.07%
	HCA	B	0.07%
	WBA	F	0.07%
	NUE	F	0.07%
	DOW	D	0.07%
	GD	B	0.07%
	FITB	B	0.06%
	LYB	D	0.06%
	SRE	B	0.06%
	TPL	C	0.06%
	HUBB	C	0.06%
	EME	C	0.06%
	APA	F	0.06%
	WSM	D	0.06%
	HUBS	F	0.06%
	CFG	B	0.06%
	MO	A	0.06%
	JBHT	C	0.05%
	LNT	A	0.05%
	LNG	B	0.05%
	SYY	A	0.05%
	VTRS	C	0.05%
	DVN	F	0.05%
	SOLV	B	0.05%
	DELL	F	0.05%
	WSO	D	0.05%
	EXC	A	0.05%
	BG	D	0.05%
	KMI	B	0.05%
	SLB	F	0.05%
	PCG	A	0.05%
	LPLA	D	0.05%
	MOS	F	0.04%
	ATO	A	0.04%
	DG	F	0.04%
	PEG	B	0.04%
	MRO	C	0.04%
	KNX	D	0.04%
	OTIS	D	0.04%
	KEY	B	0.04%
	ETR	A	0.04%
	APD	B	0.04%
	LHX	C	0.04%
	DD	C	0.04%
	GGG	D	0.04%
	EMR	D	0.04%
	JCI	C	0.04%
	FCX	D	0.04%
	OKE	A	0.04%
	PPL	A	0.03%
	SW	D	0.03%
	FE	A	0.03%
	LW	D	0.03%
	GEV	A	0.03%
	CHK	F	0.03%
	CAG	A	0.03%
	ON	D	0.03%
	SWK	B	0.03%
	DINO	F	0.03%
	APTV	D	0.03%
	PARA	F	0.03%
	HAL	F	0.03%
	ES	A	0.03%
	CF	B	0.03%
	WY	C	0.03%
	BA	F	0.03%
	GEHC	B	0.03%
	CTRA	F	0.03%
	TTC	D	0.03%
	ACI	D	0.03%
	OVV	F	0.03%
	KMX	C	0.03%
	AOS	D	0.03%
	PFG	D	0.03%
	IP	B	0.03%
	BKR	D	0.03%
	QRVO	D	0.02%
	CCK	A	0.02%
	SSNC	B	0.02%
	IR	D	0.02%
	AES	D	0.02%
	MLM	D	0.02%
	CHRD	F	0.02%
	DOV	C	0.02%
	NI	A	0.02%
	TAP	C	0.02%
	LDOS	B	0.02%
	BALL	A	0.02%
	CNP	D	0.02%
	DKS	C	0.02%
	HII	B	0.02%
	EMN	C	0.02%
	SJM	A	0.02%
	OC	D	0.02%
	WDC	D	0.02%
	KIM	A	0.02%
	AWK	A	0.02%
	AMCR	B	0.02%
	TRGP	A	0.02%
	PCTY	C	0.02%
	CRBG	C	0.02%
	EVRG	A	0.02%
	LSCC	F	0.02%
	J	C	0.02%
	ARE	D	0.02%
	CE	F	0.02%
	TXT	D	0.02%
	HES	F	0.02%
	CHRW	B	0.02%
	EQT	D	0.02%
	GPC	D	0.02%
	CLF	F	0.02%
	UHS	B	0.02%
	FNF	B	0.02%
	IFF	A	0.02%
	JBL	F	0.02%
	CNH	C	0.02%
	NRG	C	0.02%
	TYL	A	0.01%
	DAL	D	0.01%
	OKTA	F	0.01%
	ENTG	D	0.01%
	HST	D	0.01%
	LII	C	0.01%
	NDSN	C	0.01%
	ARES	C	0.01%
	MSCI	B	0.01%
	MGM	F	0.01%
	TWLO	D	0.01%
	UDR	B	0.01%
	GLPI	A	0.01%
	RCL	C	0.01%
	AMH	A	0.01%
	CPT	B	0.01%
	CCL	D	0.01%
	CRL	F	0.01%
	DVA	B	0.01%
	WLK	D	0.01%
	RPM	A	0.01%
	CSL	C	0.01%
	WTRG	D	0.01%
	BEN	F	0.01%
	NWSA	C	0.01%
	HWM	B	0.01%
	TTWO	B	0.01%
	MAA	B	0.01%
	VST	C	0.01%
	AVY	B	0.01%
	EXPE	C	0.01%
	INVH	B	0.01%
	DRI	A	0.01%
	MDB	C	0.0%
	CELH	F	0.0%
	IOT	A	0.0%
	TEAM	F	0.0%
	CFLT	F	0.0%
	ZS	F	0.0%
	PATH	D	0.0%
	NET	F	0.0%
	U	D	0.0%
	TOST	D	0.0%
	RBLX	B	0.0%
	H	C	0.0%
	DT	A	0.0%
	DKNG	D	0.0%
	RGEN	C	0.0%
	DAY	C	0.0%
	DDOG	D	0.0%
	ROKU	C	0.0%
	BSY	D	0.0%
	PSTG	F	0.0%
	LVS	D	0.0%
	LUV	A	0.0%
	HOOD	D	0.0%
	ELS	A	0.0%
	APP	B	0.0%

QUS Underweight 30 Positions Relative to NZAC

	Symbol	Grade	Weight
	NVS	B	-0.48%
	BABA	B	-0.22%
	TD	A	-0.2%
	SONY	B	-0.16%
	HDB	C	-0.13%
	DEO	C	-0.12%
	INFY	B	-0.12%
	LI	F	-0.1%
	SHOP	C	-0.08%
	SCCO	D	-0.08%
	WIT	B	-0.07%
	MUFG	D	-0.07%
	PDD	F	-0.06%
	TCOM	A	-0.05%
	BCS	B	-0.04%
	AZN	B	-0.04%
	XPEV	C	-0.03%
	CCEP	A	-0.03%
	BIDU	F	-0.03%
	LYG	C	-0.02%
	TEVA	B	-0.02%
	BCH	B	-0.02%
	ASAI	F	-0.02%
	XRX	D	-0.02%
	MBAVU	B	-0.01%
	QGEN	B	-0.01%
	QFIN	B	-0.01%
	KB	C	-0.01%
	NIO	D	-0.01%
	WIT	B	-0.0%

QUS: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Utilities - Regulated Electric Semiconductors Asset Management Business Services Software - Infrastructure Diagnostics & Research Oil & Gas E&P Specialty Retail Biotechnology Capital Markets Aerospace & Defense Banks - Regional - US 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 Cloud Computing Semiconductor Banking Mining IBD 50 Insurance Products

NZAC: Top Represented Industries & Keywords

Industries: Software - Application Business Services Diagnostics & Research Asset Management Drug Manufacturers - Major Diversified Industrials Semiconductors Biotechnology Capital Markets Information Technology Services Internet Content & Information Specialty Retail Credit Services Insurance - Property & Casualty Medical Devices Medical Instruments & Supplies Banks - Global Insurance - Diversified Insurance Brokers Specialty Chemicals

Keywords: S&P 500 Nasdaq 100 Insurance Computing Bank Dow Jones Component Telecommunications Banking Medicine Insurance Products Mobile Devices Electronics Investment Bank Financial Products Real Estate Investment Trust Work From Home Biotechnology Cloud Computing IBD 50 Aerospace