QUS vs. QVML ETF Comparison

Comparison of SPDR MSCI USA Quality Mix ETF (QUS) to Invesco S&P 500 QVM Multi-factor ETF (QVML)

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

QVML

Invesco S&P 500 QVM Multi-factor ETF

QVML Description

The investment seeks to track the investment results of the S&P 500 ® Quality, Value & Momentum Top 90% Multi- Factor Index (the “underlying index”). The fund generally will invest at least 90% of its total assets in the securities that comprise the index. S&P Dow Jones Indices LLC compiles, maintains and calculates the index, which is designed to track the performance of a subset of securities from the S&P 500 ® Index that exhibit the investment style criteria of quality, value and momentum. The index is composed of securities with multi-factor scores representing the top 90% of the parent index, as determined by the index provider. It is non-diversified.

Grade (RS Rating)

Last Trade

$35.16

Average Daily Volume

1,434

Number of Holdings ^*

447

* may have additional holdings in another (foreign) market

Performance

Period	QUS	QVML
30 Days	2.25%	2.51%
60 Days	3.15%	4.26%
90 Days	4.45%	5.72%
12 Months	29.35%	32.76%

434 Overlapping Holdings

	Symbol	Grade	Weight in QUS	Weight in QVML	Overlap
	A	D	0.11%	0.08%	0.08%
	AAPL	C	3.24%	7.12%	3.24%
	ABBV	D	0.49%	0.64%	0.49%
	ABNB	C	0.02%	0.13%	0.02%
	ABT	B	0.16%	0.41%	0.16%
	ACGL	D	0.38%	0.08%	0.08%
	ACN	C	1.18%	0.47%	0.47%
	ADBE	C	0.71%	0.49%	0.49%
	ADI	D	0.14%	0.23%	0.14%
	ADM	D	0.08%	0.06%	0.06%
	ADP	B	0.54%	0.26%	0.26%
	ADSK	A	0.16%	0.14%	0.14%
	AEE	A	0.11%	0.05%	0.05%
	AEP	D	0.19%	0.1%	0.1%
	AFL	B	0.22%	0.12%	0.12%
	AIG	B	0.12%	0.11%	0.11%
	AIZ	A	0.12%	0.03%	0.03%
	AJG	B	0.46%	0.13%	0.13%
	AKAM	D	0.14%	0.03%	0.03%
	ALGN	D	0.01%	0.03%	0.01%
	ALL	A	0.06%	0.11%	0.06%
	ALLE	D	0.04%	0.03%	0.03%
	AMAT	F	0.48%	0.34%	0.34%
	AMCR	D	0.02%	0.03%	0.02%
	AMD	F	0.06%	0.47%	0.06%
	AME	A	0.02%	0.1%	0.02%
	AMP	A	0.04%	0.12%	0.04%
	AMZN	C	0.69%	3.94%	0.69%
	ANET	C	0.39%	0.21%	0.21%
	ANSS	B	0.01%	0.06%	0.01%
	AON	A	0.21%	0.17%	0.17%
	AOS	F	0.03%	0.02%	0.02%
	APA	D	0.05%	0.02%	0.02%
	APH	A	0.71%	0.2%	0.2%
	APTV	D	0.02%	0.03%	0.02%
	ARE	D	0.02%	0.04%	0.02%
	ATO	A	0.04%	0.04%	0.04%
	AVB	B	0.02%	0.07%	0.02%
	AVGO	D	0.58%	1.61%	0.58%
	AVY	D	0.01%	0.03%	0.01%
	AWK	D	0.02%	0.05%	0.02%
	AXON	A	0.0%	0.09%	0.0%
	AXP	A	0.11%	0.35%	0.11%
	AZO	C	0.36%	0.12%	0.12%
	BAC	A	0.69%	0.69%	0.69%
	BALL	D	0.02%	0.04%	0.02%
	BAX	D	0.02%	0.03%	0.02%
	BBY	D	0.09%	0.04%	0.04%
	BDX	F	0.24%	0.14%	0.14%
	BEN	C	0.01%	0.01%	0.01%
	BG	F	0.05%	0.03%	0.03%
	BK	A	0.09%	0.12%	0.09%
	BKNG	A	0.04%	0.36%	0.04%
	BKR	B	0.04%	0.1%	0.04%
	BLDR	D	0.08%	0.05%	0.05%
	BLK	C	0.46%	0.32%	0.32%
	BR	A	0.03%	0.06%	0.03%
	BRK.A	B	1.1%	1.87%	1.1%
	BRO	B	0.01%	0.06%	0.01%
	BSX	B	0.04%	0.27%	0.04%
	BX	A	0.05%	0.27%	0.05%
	BXP	D	0.01%	0.02%	0.01%
	C	A	0.45%	0.3%	0.3%
	CAG	D	0.02%	0.03%	0.02%
	CAH	B	0.12%	0.06%	0.06%
	CARR	D	0.04%	0.13%	0.04%
	CAT	B	0.63%	0.42%	0.42%
	CB	C	0.65%	0.25%	0.25%
	CBOE	B	0.29%	0.04%	0.04%
	CBRE	B	0.05%	0.08%	0.05%
	CCL	B	0.01%	0.05%	0.01%
	CDNS	B	0.29%	0.18%	0.18%
	CDW	F	0.19%	0.05%	0.05%
	CE	F	0.01%	0.02%	0.01%
	CEG	D	0.03%	0.16%	0.03%
	CF	B	0.03%	0.04%	0.03%
	CFG	B	0.07%	0.05%	0.05%
	CHD	B	0.14%	0.05%	0.05%
	CHRW	C	0.02%	0.03%	0.02%
	CHTR	C	0.09%	0.09%	0.09%
	CI	F	0.24%	0.2%	0.2%
	CINF	A	0.03%	0.05%	0.03%
	CL	D	0.17%	0.16%	0.16%
	CMCSA	B	0.42%	0.37%	0.37%
	CME	A	0.23%	0.17%	0.17%
	CMG	B	0.22%	0.17%	0.17%
	CMI	A	0.17%	0.11%	0.11%
	CMS	C	0.09%	0.04%	0.04%
	CNC	D	0.08%	0.07%	0.07%
	CNP	B	0.02%	0.04%	0.02%
	COF	B	0.17%	0.16%	0.16%
	COP	C	0.17%	0.31%	0.17%
	COR	B	0.35%	0.09%	0.09%
	COST	B	1.31%	0.85%	0.85%
	CPAY	A	0.02%	0.06%	0.02%
	CPB	D	0.12%	0.02%	0.02%
	CPRT	A	0.14%	0.11%	0.11%
	CPT	B	0.01%	0.03%	0.01%
	CRL	C	0.01%	0.02%	0.01%
	CRM	B	0.12%	0.69%	0.12%
	CRWD	B	0.06%	0.18%	0.06%
	CSCO	B	1.34%	0.51%	0.51%
	CSGP	D	0.01%	0.06%	0.01%
	CSX	B	0.05%	0.15%	0.05%
	CTAS	B	0.23%	0.15%	0.15%
	CTRA	B	0.03%	0.04%	0.03%
	CTSH	B	0.39%	0.09%	0.09%
	CTVA	C	0.16%	0.09%	0.09%
	CVS	D	0.29%	0.15%	0.15%
	CVX	A	0.55%	0.63%	0.55%
	D	C	0.14%	0.1%	0.1%
	DAL	C	0.01%	0.08%	0.01%
	DAY	B	0.0%	0.03%	0.0%
	DD	D	0.04%	0.08%	0.04%
	DE	A	0.1%	0.21%	0.1%
	DECK	A	0.09%	0.06%	0.06%
	DFS	B	0.07%	0.1%	0.07%
	DG	F	0.02%	0.04%	0.02%
	DGX	A	0.06%	0.04%	0.04%
	DHI	D	0.19%	0.1%	0.1%
	DHR	F	0.09%	0.33%	0.09%
	DIS	B	0.17%	0.43%	0.17%
	DLR	B	0.04%	0.12%	0.04%
	DLTR	F	0.02%	0.04%	0.02%
	DOC	D	0.01%	0.03%	0.01%
	DOV	A	0.02%	0.06%	0.02%
	DOW	F	0.06%	0.07%	0.06%
	DRI	B	0.02%	0.04%	0.02%
	DTE	C	0.1%	0.05%	0.05%
	DUK	C	0.6%	0.18%	0.18%
	DVA	B	0.01%	0.02%	0.01%
	DVN	F	0.04%	0.06%	0.04%
	EA	A	0.31%	0.09%	0.09%
	EBAY	D	0.02%	0.06%	0.02%
	ECL	D	0.02%	0.13%	0.02%
	ED	D	0.42%	0.07%	0.07%
	EFX	F	0.01%	0.07%	0.01%
	EG	C	0.18%	0.04%	0.04%
	EIX	B	0.04%	0.07%	0.04%
	ELV	F	0.29%	0.2%	0.2%
	EMN	D	0.02%	0.03%	0.02%
	EMR	A	0.05%	0.16%	0.05%
	EOG	A	0.15%	0.18%	0.15%
	EPAM	C	0.04%	0.03%	0.03%
	EQR	B	0.02%	0.05%	0.02%
	EQT	B	0.03%	0.05%	0.03%
	ES	D	0.03%	0.05%	0.03%
	ESS	B	0.01%	0.04%	0.01%
	ETN	A	0.05%	0.31%	0.05%
	ETR	B	0.05%	0.07%	0.05%
	EVRG	A	0.02%	0.03%	0.02%
	EW	C	0.12%	0.09%	0.09%
	EXC	C	0.06%	0.08%	0.06%
	EXPD	D	0.06%	0.04%	0.04%
	EXPE	B	0.02%	0.05%	0.02%
	EXR	D	0.02%	0.07%	0.02%
	F	C	0.16%	0.1%	0.1%
	FANG	D	0.22%	0.08%	0.08%
	FAST	B	0.15%	0.1%	0.1%
	FCX	D	0.04%	0.14%	0.04%
	FDS	B	0.05%	0.04%	0.04%
	FDX	B	0.12%	0.15%	0.12%
	FE	C	0.02%	0.04%	0.02%
	FFIV	B	0.23%	0.03%	0.03%
	FI	A	0.31%	0.26%	0.26%
	FIS	C	0.03%	0.1%	0.03%
	FITB	A	0.06%	0.07%	0.06%
	FOXA	B	0.02%	0.04%	0.02%
	FSLR	F	0.03%	0.04%	0.03%
	FTNT	C	0.01%	0.13%	0.01%
	FTV	C	0.02%	0.06%	0.02%
	GD	F	0.07%	0.14%	0.07%
	GDDY	A	0.34%	0.06%	0.06%
	GE	D	0.11%	0.43%	0.11%
	GEHC	F	0.03%	0.07%	0.03%
	GEN	B	0.13%	0.04%	0.04%
	GEV	B	0.05%	0.18%	0.05%
	GILD	C	0.43%	0.24%	0.24%
	GIS	D	0.25%	0.08%	0.08%
	GLW	B	0.14%	0.08%	0.08%
	GM	B	0.32%	0.15%	0.15%
	GOOG	C	1.12%	4.33%	1.12%
	GPC	D	0.02%	0.04%	0.02%
	GPN	B	0.04%	0.06%	0.04%
	GRMN	B	0.2%	0.07%	0.07%
	GS	A	0.3%	0.43%	0.3%
	GWW	B	0.2%	0.11%	0.11%
	HAL	C	0.03%	0.06%	0.03%
	HBAN	A	0.06%	0.06%	0.06%
	HCA	F	0.06%	0.14%	0.06%
	HD	A	0.35%	0.84%	0.35%
	HES	B	0.02%	0.09%	0.02%
	HIG	B	0.09%	0.07%	0.07%
	HII	D	0.01%	0.02%	0.01%
	HOLX	D	0.07%	0.04%	0.04%
	HON	B	0.53%	0.32%	0.32%
	HPE	B	0.06%	0.07%	0.06%
	HPQ	B	0.07%	0.07%	0.07%
	HRL	D	0.08%	0.02%	0.02%
	HSIC	B	0.01%	0.02%	0.01%
	HST	C	0.01%	0.03%	0.01%
	HSY	F	0.18%	0.05%	0.05%
	HUBB	B	0.07%	0.05%	0.05%
	HUM	C	0.2%	0.08%	0.08%
	HWM	A	0.01%	0.09%	0.01%
	IBM	C	0.67%	0.39%	0.39%
	ICE	C	0.14%	0.19%	0.14%
	IDXX	F	0.12%	0.07%	0.07%
	IEX	B	0.05%	0.04%	0.04%
	IFF	D	0.02%	0.05%	0.02%
	INCY	C	0.2%	0.03%	0.03%
	INTC	D	0.18%	0.25%	0.18%
	INTU	C	0.04%	0.4%	0.04%
	INVH	D	0.01%	0.04%	0.01%
	IP	B	0.04%	0.04%	0.04%
	IPG	D	0.01%	0.02%	0.01%
	IQV	D	0.02%	0.08%	0.02%
	IR	B	0.02%	0.09%	0.02%
	ISRG	A	0.04%	0.4%	0.04%
	IT	C	0.13%	0.09%	0.09%
	ITW	B	0.27%	0.16%	0.16%
	J	F	0.02%	0.04%	0.02%
	JBHT	C	0.05%	0.03%	0.03%
	JBL	B	0.03%	0.03%	0.03%
	JCI	C	0.05%	0.12%	0.05%
	JKHY	D	0.04%	0.03%	0.03%
	JNJ	D	1.64%	0.77%	0.77%
	JNPR	F	0.17%	0.03%	0.03%
	JPM	A	1.06%	1.59%	1.06%
	K	A	0.29%	0.05%	0.05%
	KDP	D	0.23%	0.07%	0.07%
	KEY	B	0.04%	0.04%	0.04%
	KEYS	A	0.26%	0.06%	0.06%
	KHC	F	0.18%	0.05%	0.05%
	KIM	A	0.02%	0.03%	0.02%
	KKR	A	0.04%	0.22%	0.04%
	KLAC	D	0.29%	0.2%	0.2%
	KMB	D	0.1%	0.09%	0.09%
	KMI	A	0.07%	0.11%	0.07%
	KMX	B	0.03%	0.03%	0.03%
	KO	D	0.81%	0.52%	0.52%
	KR	B	0.31%	0.09%	0.09%
	KVUE	A	0.04%	0.09%	0.04%
	L	A	0.12%	0.03%	0.03%
	LDOS	C	0.02%	0.05%	0.02%
	LEN	D	0.06%	0.09%	0.06%
	LH	C	0.03%	0.05%	0.03%
	LHX	C	0.04%	0.1%	0.04%
	LIN	D	0.15%	0.47%	0.15%
	LKQ	D	0.02%	0.02%	0.02%
	LLY	F	1.92%	1.38%	1.38%
	LMT	D	0.72%	0.24%	0.24%
	LNT	A	0.05%	0.03%	0.03%
	LRCX	F	0.3%	0.22%	0.22%
	LULU	C	0.12%	0.08%	0.08%
	LUV	C	0.01%	0.04%	0.01%
	LW	C	0.03%	0.02%	0.02%
	LYB	F	0.04%	0.05%	0.04%
	MA	C	1.69%	0.89%	0.89%
	MAA	B	0.01%	0.04%	0.01%
	MAS	D	0.01%	0.04%	0.01%
	MCHP	D	0.1%	0.08%	0.08%
	MCK	B	0.61%	0.18%	0.18%
	MCO	B	0.21%	0.16%	0.16%
	MDLZ	F	0.22%	0.18%	0.18%
	MDT	D	0.15%	0.24%	0.15%
	MET	A	0.09%	0.11%	0.09%
	META	D	2.32%	2.71%	2.32%
	MGM	D	0.01%	0.02%	0.01%
	MKC	D	0.01%	0.04%	0.01%
	MKTX	D	0.03%	0.02%	0.02%
	MLM	B	0.02%	0.08%	0.02%
	MMC	B	0.69%	0.23%	0.23%
	MMM	D	0.28%	0.16%	0.16%
	MNST	C	0.12%	0.08%	0.08%
	MO	A	0.07%	0.2%	0.07%
	MOH	F	0.13%	0.04%	0.04%
	MOS	F	0.03%	0.02%	0.02%
	MPC	D	0.32%	0.13%	0.13%
	MPWR	F	0.07%	0.06%	0.06%
	MRK	F	0.46%	0.54%	0.46%
	MRNA	F	0.01%	0.03%	0.01%
	MRO	B	0.04%	0.04%	0.04%
	MS	A	0.21%	0.37%	0.21%
	MSFT	F	2.7%	6.58%	2.7%
	MSI	B	0.63%	0.18%	0.18%
	MTB	A	0.08%	0.08%	0.08%
	MU	D	0.07%	0.25%	0.07%
	NDAQ	A	0.02%	0.07%	0.02%
	NEE	D	0.1%	0.31%	0.1%
	NFLX	A	0.14%	0.78%	0.14%
	NI	A	0.02%	0.03%	0.02%
	NKE	D	0.28%	0.2%	0.2%
	NOC	D	0.55%	0.15%	0.15%
	NOW	A	0.27%	0.44%	0.27%
	NRG	B	0.03%	0.04%	0.03%
	NSC	B	0.05%	0.13%	0.05%
	NTAP	C	0.16%	0.05%	0.05%
	NTRS	A	0.03%	0.05%	0.03%
	NUE	C	0.07%	0.08%	0.07%
	NVDA	C	2.76%	7.76%	2.76%
	NVR	D	0.11%	0.06%	0.06%
	NWSA	B	0.01%	0.03%	0.01%
	NXPI	D	0.03%	0.13%	0.03%
	O	D	0.04%	0.1%	0.04%
	ODFL	B	0.13%	0.09%	0.09%
	OKE	A	0.05%	0.14%	0.05%
	OMC	C	0.07%	0.04%	0.04%
	ON	D	0.02%	0.07%	0.02%
	OXY	D	0.1%	0.08%	0.08%
	PANW	C	0.32%	0.28%	0.28%
	PARA	C	0.03%	0.01%	0.01%
	PAYC	B	0.03%	0.02%	0.02%
	PAYX	C	0.16%	0.1%	0.1%
	PCAR	B	0.06%	0.13%	0.06%
	PCG	A	0.06%	0.09%	0.06%
	PEG	A	0.04%	0.09%	0.04%
	PEP	F	1.01%	0.47%	0.47%
	PFG	D	0.03%	0.04%	0.03%
	PG	A	0.59%	0.82%	0.59%
	PGR	A	0.65%	0.32%	0.32%
	PH	A	0.04%	0.19%	0.04%
	PHM	D	0.11%	0.06%	0.06%
	PKG	A	0.09%	0.05%	0.05%
	PLD	D	0.08%	0.22%	0.08%
	PM	B	0.11%	0.41%	0.11%
	PNC	B	0.17%	0.18%	0.17%
	PNR	A	0.01%	0.04%	0.01%
	POOL	C	0.04%	0.03%	0.03%
	PPG	F	0.02%	0.06%	0.02%
	PPL	B	0.03%	0.05%	0.03%
	PRU	A	0.08%	0.1%	0.08%
	PSA	D	0.14%	0.11%	0.11%
	PSX	C	0.14%	0.13%	0.13%
	PTC	A	0.18%	0.05%	0.05%
	PWR	A	0.02%	0.1%	0.02%
	PYPL	B	0.08%	0.2%	0.08%
	QCOM	F	0.55%	0.41%	0.41%
	QRVO	F	0.01%	0.01%	0.01%
	RCL	A	0.01%	0.12%	0.01%
	REG	B	0.01%	0.03%	0.01%
	REGN	F	0.25%	0.18%	0.18%
	RF	A	0.06%	0.05%	0.05%
	RJF	A	0.03%	0.06%	0.03%
	RMD	C	0.09%	0.07%	0.07%
	ROK	B	0.1%	0.07%	0.07%
	ROL	B	0.17%	0.03%	0.03%
	ROP	B	0.46%	0.13%	0.13%
	ROST	C	0.03%	0.1%	0.03%
	RSG	A	0.54%	0.09%	0.09%
	RTX	C	0.18%	0.34%	0.18%
	RVTY	F	0.01%	0.03%	0.01%
	SCHW	B	0.07%	0.26%	0.07%
	SHW	A	0.26%	0.19%	0.19%
	SLB	C	0.05%	0.14%	0.05%
	SMCI	F	0.03%	0.02%	0.02%
	SNA	A	0.06%	0.04%	0.04%
	SNPS	B	0.28%	0.19%	0.19%
	SO	D	0.54%	0.19%	0.19%
	SOLV	C	0.06%	0.02%	0.02%
	SPG	B	0.03%	0.13%	0.03%
	SPGI	C	0.07%	0.34%	0.07%
	SRE	A	0.06%	0.12%	0.06%
	STE	F	0.01%	0.05%	0.01%
	STLD	B	0.04%	0.05%	0.04%
	STT	A	0.06%	0.06%	0.06%
	STZ	D	0.02%	0.08%	0.02%
	SW	A	0.03%	0.06%	0.03%
	SWK	D	0.02%	0.03%	0.02%
	SWKS	F	0.05%	0.03%	0.03%
	SYF	B	0.06%	0.06%	0.06%
	SYK	C	0.05%	0.27%	0.05%
	SYY	B	0.05%	0.08%	0.05%
	T	A	0.69%	0.31%	0.31%
	TAP	C	0.02%	0.02%	0.02%
	TDY	B	0.21%	0.05%	0.05%
	TER	D	0.04%	0.04%	0.04%
	TFC	A	0.16%	0.14%	0.14%
	TFX	F	0.01%	0.02%	0.01%
	TGT	F	0.1%	0.16%	0.1%
	TJX	A	0.56%	0.28%	0.28%
	TMO	F	0.1%	0.43%	0.1%
	TMUS	B	0.78%	0.26%	0.26%
	TRGP	B	0.03%	0.09%	0.03%
	TROW	B	0.09%	0.06%	0.06%
	TRV	B	0.47%	0.12%	0.12%
	TSCO	D	0.09%	0.06%	0.06%
	TSN	B	0.3%	0.04%	0.04%
	TT	A	0.26%	0.2%	0.2%
	TTWO	A	0.01%	0.06%	0.01%
	TXN	C	1.06%	0.42%	0.42%
	TXT	D	0.02%	0.04%	0.02%
	TYL	B	0.01%	0.06%	0.01%
	UBER	D	0.18%	0.33%	0.18%
	UDR	B	0.01%	0.03%	0.01%
	UHS	D	0.02%	0.03%	0.02%
	ULTA	F	0.08%	0.04%	0.04%
	UNH	C	2.21%	1.15%	1.15%
	UNP	C	0.08%	0.31%	0.08%
	UPS	C	0.11%	0.2%	0.11%
	URI	B	0.04%	0.13%	0.04%
	USB	A	0.16%	0.17%	0.16%
	V	A	1.91%	0.99%	0.99%
	VICI	C	0.04%	0.07%	0.04%
	VLO	C	0.15%	0.11%	0.11%
	VLTO	D	0.08%	0.05%	0.05%
	VMC	B	0.02%	0.08%	0.02%
	VRSK	A	0.15%	0.09%	0.09%
	VRTX	F	0.57%	0.27%	0.27%
	VST	B	0.02%	0.1%	0.02%
	VTR	C	0.02%	0.05%	0.02%
	VTRS	A	0.05%	0.03%	0.03%
	VZ	C	0.81%	0.34%	0.34%
	WAB	B	0.02%	0.08%	0.02%
	WAT	B	0.07%	0.05%	0.05%
	WBA	F	0.06%	0.01%	0.01%
	WBD	C	0.11%	0.05%	0.05%
	WDC	D	0.02%	0.04%	0.02%
	WEC	A	0.29%	0.06%	0.06%
	WELL	A	0.04%	0.16%	0.04%
	WFC	A	0.5%	0.58%	0.5%
	WM	A	0.52%	0.17%	0.17%
	WMB	A	0.15%	0.15%	0.15%
	WMT	A	0.94%	0.74%	0.74%
	WRB	A	0.12%	0.04%	0.04%
	WST	C	0.06%	0.05%	0.05%
	WTW	B	0.16%	0.07%	0.07%
	WY	D	0.03%	0.05%	0.03%
	XEL	A	0.2%	0.08%	0.08%
	XOM	B	0.81%	1.22%	0.81%
	XYL	D	0.01%	0.07%	0.01%
	ZBH	C	0.02%	0.05%	0.02%
	ZBRA	B	0.01%	0.04%	0.01%
	ZTS	D	0.25%	0.16%	0.16%

QUS Overweight 149 Positions Relative to QVML

	Symbol	Grade	Weight
	GOOGL	C	1.2%
	WCN	A	0.53%
	ORCL	B	0.53%
	MCD	D	0.5%
	FCNCA	A	0.34%
	BMY	B	0.34%
	PFE	D	0.33%
	TSLA	B	0.28%
	AMGN	D	0.27%
	ORLY	B	0.26%
	VRSN	F	0.22%
	BAH	F	0.2%
	FICO	B	0.2%
	YUM	B	0.19%
	NEM	D	0.18%
	ERIE	D	0.17%
	MKL	A	0.15%
	AFG	A	0.15%
	WDAY	B	0.15%
	LOW	D	0.13%
	NBIX	C	0.11%
	UTHR	C	0.1%
	TPL	A	0.09%
	EME	C	0.08%
	BMRN	D	0.08%
	HUBS	A	0.08%
	VEEV	C	0.08%
	STX	D	0.07%
	MANH	D	0.07%
	DPZ	C	0.07%
	TW	A	0.07%
	MELI	D	0.07%
	ALNY	D	0.07%
	LPLA	A	0.07%
	WSO	A	0.06%
	WSM	B	0.06%
	DELL	C	0.06%
	SBUX	A	0.06%
	APD	A	0.05%
	GGG	B	0.05%
	LNG	B	0.05%
	AMT	D	0.04%
	KNX	B	0.04%
	OTIS	C	0.04%
	CCI	D	0.03%
	CNH	C	0.03%
	ALLY	C	0.03%
	RS	B	0.03%
	TTC	D	0.03%
	ACI	C	0.03%
	APO	B	0.03%
	SQ	B	0.03%
	SEIC	B	0.03%
	OVV	B	0.03%
	APP	B	0.02%
	SSNC	B	0.02%
	CCK	C	0.02%
	SJM	D	0.02%
	ALB	C	0.02%
	EQH	B	0.02%
	MAR	B	0.02%
	MRVL	B	0.02%
	OC	A	0.02%
	FNF	B	0.02%
	CRBG	B	0.02%
	BIIB	F	0.02%
	BA	F	0.02%
	EQIX	A	0.02%
	DINO	D	0.02%
	ENPH	F	0.02%
	TTD	B	0.01%
	HOOD	B	0.01%
	ENTG	D	0.01%
	RIVN	F	0.01%
	MTCH	D	0.01%
	MTD	D	0.01%
	BIO	D	0.01%
	BBWI	D	0.01%
	NDSN	B	0.01%
	Z	A	0.01%
	LII	A	0.01%
	LVS	C	0.01%
	LYV	A	0.01%
	VRT	B	0.01%
	SBAC	D	0.01%
	PLTR	B	0.01%
	ILMN	D	0.01%
	ARES	A	0.01%
	UHAL	D	0.01%
	AMH	D	0.01%
	WLK	D	0.01%
	CTLT	B	0.01%
	RPRX	D	0.01%
	TDG	D	0.01%
	MSCI	C	0.01%
	DASH	A	0.01%
	GLPI	C	0.01%
	EL	F	0.01%
	WTRG	B	0.01%
	FBIN	D	0.01%
	TRU	D	0.01%
	CSL	C	0.01%
	AVTR	F	0.01%
	FOX	A	0.01%
	IRM	D	0.01%
	RPM	A	0.01%
	HLT	A	0.01%
	SUI	D	0.01%
	CLX	B	0.01%
	WPC	D	0.01%
	TWLO	A	0.01%
	AES	F	0.01%
	TRMB	B	0.01%
	BURL	A	0.01%
	ACM	A	0.01%
	COIN	C	0.01%
	CHRD	D	0.01%
	DKS	C	0.01%
	CG	A	0.01%
	ZM	B	0.01%
	CELH	F	0.0%
	IOT	A	0.0%
	ZS	C	0.0%
	TEAM	A	0.0%
	NET	B	0.0%
	RBLX	C	0.0%
	MDB	C	0.0%
	TOST	B	0.0%
	DKNG	B	0.0%
	BSY	D	0.0%
	PSTG	D	0.0%
	DDOG	A	0.0%
	SNAP	C	0.0%
	H	B	0.0%
	DT	C	0.0%
	WYNN	D	0.0%
	PODD	C	0.0%
	DOCU	A	0.0%
	EXAS	D	0.0%
	HEI	B	0.0%
	ROKU	D	0.0%
	SNOW	C	0.0%
	PINS	D	0.0%
	DXCM	D	0.0%
	MSTR	C	0.0%
	ELS	C	0.0%
	HEI	B	0.0%
	TECH	D	0.0%
	OKTA	C	0.0%

QUS Underweight 13 Positions Relative to QVML

	Symbol	Grade	Weight
	UAL	A	-0.06%
	GNRC	B	-0.03%
	TPR	B	-0.03%
	FMC	D	-0.02%
	MHK	D	-0.02%
	FRT	B	-0.02%
	RL	B	-0.02%
	IVZ	B	-0.02%
	CZR	F	-0.02%
	BWA	D	-0.02%
	GL	B	-0.02%
	PNW	B	-0.02%
	NCLH	B	-0.02%

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

QVML: Top Represented Industries & Keywords

Industries: Diversified Industrials Software - Application Utilities - Regulated Electric Semiconductors Business Services Asset Management Diagnostics & Research Oil & Gas E&P Banks - Regional - US Capital Markets Medical Instruments & Supplies Packaged Foods Aerospace & Defense Credit Services Health Care Plans Information Technology Services Insurance - Property & Casualty Medical Devices REIT - Residential Specialty Retail

Keywords: S&P 500 Nasdaq 100 Natural Gas Electricity Insurance Computing Dow Jones Component Electronics Aerospace Real Estate Investment Trust Bank Chemical Banking Medicine Semiconductor Telecommunications Insurance Products Petroleum Industry Investment Bank Mobile Devices