QVML vs. GUSA ETF Comparison

Comparison of Invesco S&P 500 QVM Multi-factor ETF (QVML) to Goldman Sachs MarketBeta U.S. 1000 Equity ETF (GUSA)

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

GUSA

Goldman Sachs MarketBeta U.S. 1000 Equity ETF

GUSA Description

The fund seeks to invest at least 80% of its assets in securities included in its underlying index, in depositary receipts representing securities included in its underlying index and in underlying stocks in respect of depositary receipts included in its underlying index. The index is designed to measure the performance of equity securities of large and mid-capitalization equity issuers covering approximately the largest 1,000 of the free-float market capitalization in the U.S.

Grade (RS Rating)

Last Trade

$51.97

Average Daily Volume

6,962

Number of Holdings ^*

975

* may have additional holdings in another (foreign) market

Performance

Period	QVML	GUSA
30 Days	2.51%	3.03%
60 Days	4.26%	5.42%
90 Days	5.72%	7.24%
12 Months	32.76%	33.55%

447 Overlapping Holdings

	Symbol	Grade	Weight in QVML	Weight in GUSA	Overlap
	A	D	0.08%	0.07%	0.07%
	AAPL	C	7.12%	6.17%	6.17%
	ABBV	D	0.64%	0.54%	0.54%
	ABNB	C	0.13%	0.1%	0.1%
	ABT	B	0.41%	0.37%	0.37%
	ACGL	D	0.08%	0.06%	0.06%
	ACN	C	0.47%	0.4%	0.4%
	ADBE	C	0.49%	0.4%	0.4%
	ADI	D	0.23%	0.19%	0.19%
	ADM	D	0.06%	0.05%	0.05%
	ADP	B	0.26%	0.22%	0.22%
	ADSK	A	0.14%	0.12%	0.12%
	AEE	A	0.05%	0.04%	0.04%
	AEP	D	0.1%	0.09%	0.09%
	AFL	B	0.12%	0.1%	0.1%
	AIG	B	0.11%	0.09%	0.09%
	AIZ	A	0.03%	0.02%	0.02%
	AJG	B	0.13%	0.11%	0.11%
	AKAM	D	0.03%	0.02%	0.02%
	ALGN	D	0.03%	0.03%	0.03%
	ALL	A	0.11%	0.09%	0.09%
	ALLE	D	0.03%	0.02%	0.02%
	AMAT	F	0.34%	0.25%	0.25%
	AMCR	D	0.03%	0.03%	0.03%
	AMD	F	0.47%	0.41%	0.41%
	AME	A	0.1%	0.08%	0.08%
	AMP	A	0.12%	0.1%	0.1%
	AMZN	C	3.94%	3.5%	3.5%
	ANET	C	0.21%	0.17%	0.17%
	ANSS	B	0.06%	0.05%	0.05%
	AON	A	0.17%	0.14%	0.14%
	AOS	F	0.02%	0.02%	0.02%
	APA	D	0.02%	0.01%	0.01%
	APH	A	0.2%	0.15%	0.15%
	APTV	D	0.03%	0.03%	0.03%
	ARE	D	0.04%	0.03%	0.03%
	ATO	A	0.04%	0.04%	0.04%
	AVB	B	0.07%	0.06%	0.06%
	AVGO	D	1.61%	1.38%	1.38%
	AVY	D	0.03%	0.03%	0.03%
	AWK	D	0.05%	0.05%	0.05%
	AXON	A	0.09%	0.08%	0.08%
	AXP	A	0.35%	0.29%	0.29%
	AZO	C	0.12%	0.1%	0.1%
	BAC	A	0.69%	0.57%	0.57%
	BALL	D	0.04%	0.03%	0.03%
	BAX	D	0.03%	0.03%	0.03%
	BBY	D	0.04%	0.03%	0.03%
	BDX	F	0.14%	0.12%	0.12%
	BEN	C	0.01%	0.01%	0.01%
	BG	F	0.03%	0.02%	0.02%
	BK	A	0.12%	0.1%	0.1%
	BKNG	A	0.36%	0.3%	0.3%
	BKR	B	0.1%	0.08%	0.08%
	BLDR	D	0.05%	0.04%	0.04%
	BLK	C	0.32%	0.28%	0.28%
	BR	A	0.06%	0.05%	0.05%
	BRK.A	B	1.87%	1.13%	1.13%
	BRO	B	0.06%	0.05%	0.05%
	BSX	B	0.27%	0.24%	0.24%
	BWA	D	0.02%	0.01%	0.01%
	BX	A	0.27%	0.24%	0.24%
	BXP	D	0.02%	0.02%	0.02%
	C	A	0.3%	0.23%	0.23%
	CAG	D	0.03%	0.02%	0.02%
	CAH	B	0.06%	0.05%	0.05%
	CARR	D	0.13%	0.11%	0.11%
	CAT	B	0.42%	0.34%	0.34%
	CB	C	0.25%	0.21%	0.21%
	CBOE	B	0.04%	0.04%	0.04%
	CBRE	B	0.08%	0.07%	0.07%
	CCL	B	0.05%	0.05%	0.05%
	CDNS	B	0.18%	0.15%	0.15%
	CDW	F	0.05%	0.04%	0.04%
	CE	F	0.02%	0.01%	0.01%
	CEG	D	0.16%	0.13%	0.13%
	CF	B	0.04%	0.03%	0.03%
	CFG	B	0.05%	0.04%	0.04%
	CHD	B	0.05%	0.05%	0.05%
	CHRW	C	0.03%	0.02%	0.02%
	CHTR	C	0.09%	0.07%	0.07%
	CI	F	0.2%	0.16%	0.16%
	CINF	A	0.05%	0.04%	0.04%
	CL	D	0.16%	0.14%	0.14%
	CMCSA	B	0.37%	0.3%	0.3%
	CME	A	0.17%	0.15%	0.15%
	CMG	B	0.17%	0.15%	0.15%
	CMI	A	0.11%	0.09%	0.09%
	CMS	C	0.04%	0.04%	0.04%
	CNC	D	0.07%	0.06%	0.06%
	CNP	B	0.04%	0.04%	0.04%
	COF	B	0.16%	0.12%	0.12%
	COP	C	0.31%	0.24%	0.24%
	COR	B	0.09%	0.08%	0.08%
	COST	B	0.85%	0.75%	0.75%
	CPAY	A	0.06%	0.05%	0.05%
	CPB	D	0.02%	0.02%	0.02%
	CPRT	A	0.11%	0.09%	0.09%
	CPT	B	0.03%	0.02%	0.02%
	CRL	C	0.02%	0.02%	0.02%
	CRM	B	0.69%	0.55%	0.55%
	CRWD	B	0.18%	0.15%	0.15%
	CSCO	B	0.51%	0.42%	0.42%
	CSGP	D	0.06%	0.05%	0.05%
	CSX	B	0.15%	0.12%	0.12%
	CTAS	B	0.15%	0.14%	0.14%
	CTRA	B	0.04%	0.03%	0.03%
	CTSH	B	0.09%	0.07%	0.07%
	CTVA	C	0.09%	0.07%	0.07%
	CVS	D	0.15%	0.13%	0.13%
	CVX	A	0.63%	0.5%	0.5%
	CZR	F	0.02%	0.01%	0.01%
	D	C	0.1%	0.09%	0.09%
	DAL	C	0.08%	0.08%	0.08%
	DAY	B	0.03%	0.02%	0.02%
	DD	D	0.08%	0.06%	0.06%
	DE	A	0.21%	0.18%	0.18%
	DECK	A	0.06%	0.05%	0.05%
	DFS	B	0.1%	0.08%	0.08%
	DG	F	0.04%	0.03%	0.03%
	DGX	A	0.04%	0.03%	0.03%
	DHI	D	0.1%	0.09%	0.09%
	DHR	F	0.33%	0.27%	0.27%
	DIS	B	0.43%	0.37%	0.37%
	DLR	B	0.12%	0.11%	0.11%
	DLTR	F	0.04%	0.02%	0.02%
	DOC	D	0.03%	0.03%	0.03%
	DOV	A	0.06%	0.05%	0.05%
	DOW	F	0.07%	0.06%	0.06%
	DRI	B	0.04%	0.03%	0.03%
	DTE	C	0.05%	0.05%	0.05%
	DUK	C	0.18%	0.16%	0.16%
	DVA	B	0.02%	0.01%	0.01%
	DVN	F	0.06%	0.04%	0.04%
	EA	A	0.09%	0.07%	0.07%
	EBAY	D	0.06%	0.05%	0.05%
	ECL	D	0.13%	0.11%	0.11%
	ED	D	0.07%	0.06%	0.06%
	EFX	F	0.07%	0.05%	0.05%
	EG	C	0.04%	0.02%	0.02%
	EIX	B	0.07%	0.06%	0.06%
	ELV	F	0.2%	0.17%	0.17%
	EMN	D	0.03%	0.02%	0.02%
	EMR	A	0.16%	0.14%	0.14%
	EOG	A	0.18%	0.14%	0.14%
	EPAM	C	0.03%	0.02%	0.02%
	EQR	B	0.05%	0.05%	0.05%
	EQT	B	0.05%	0.05%	0.05%
	ES	D	0.05%	0.04%	0.04%
	ESS	B	0.04%	0.04%	0.04%
	ETN	A	0.31%	0.26%	0.26%
	ETR	B	0.07%	0.06%	0.06%
	EVRG	A	0.03%	0.03%	0.03%
	EW	C	0.09%	0.08%	0.08%
	EXC	C	0.08%	0.07%	0.07%
	EXPD	D	0.04%	0.03%	0.03%
	EXPE	B	0.05%	0.04%	0.04%
	EXR	D	0.07%	0.06%	0.06%
	F	C	0.1%	0.08%	0.08%
	FANG	D	0.08%	0.06%	0.06%
	FAST	B	0.1%	0.09%	0.09%
	FCX	D	0.14%	0.12%	0.12%
	FDS	B	0.04%	0.03%	0.03%
	FDX	B	0.15%	0.12%	0.12%
	FE	C	0.04%	0.04%	0.04%
	FFIV	B	0.03%	0.03%	0.03%
	FI	A	0.26%	0.22%	0.22%
	FIS	C	0.1%	0.09%	0.09%
	FITB	A	0.07%	0.06%	0.06%
	FMC	D	0.02%	0.01%	0.01%
	FOXA	B	0.04%	0.02%	0.02%
	FRT	B	0.02%	0.02%	0.02%
	FSLR	F	0.04%	0.03%	0.03%
	FTNT	C	0.13%	0.1%	0.1%
	FTV	C	0.06%	0.05%	0.05%
	GD	F	0.14%	0.12%	0.12%
	GDDY	A	0.06%	0.05%	0.05%
	GE	D	0.43%	0.35%	0.35%
	GEHC	F	0.07%	0.06%	0.06%
	GEN	B	0.04%	0.03%	0.03%
	GEV	B	0.18%	0.17%	0.17%
	GILD	C	0.24%	0.2%	0.2%
	GIS	D	0.08%	0.06%	0.06%
	GL	B	0.02%	0.02%	0.02%
	GLW	B	0.08%	0.07%	0.07%
	GM	B	0.15%	0.11%	0.11%
	GNRC	B	0.03%	0.02%	0.02%
	GOOG	C	4.33%	1.71%	1.71%
	GPC	D	0.04%	0.03%	0.03%
	GPN	B	0.06%	0.05%	0.05%
	GRMN	B	0.07%	0.06%	0.06%
	GS	A	0.43%	0.33%	0.33%
	GWW	B	0.11%	0.09%	0.09%
	HAL	C	0.06%	0.05%	0.05%
	HBAN	A	0.06%	0.05%	0.05%
	HCA	F	0.14%	0.11%	0.11%
	HD	A	0.84%	0.74%	0.74%
	HES	B	0.09%	0.07%	0.07%
	HIG	B	0.07%	0.06%	0.06%
	HII	D	0.02%	0.01%	0.01%
	HOLX	D	0.04%	0.03%	0.03%
	HON	B	0.32%	0.27%	0.27%
	HPE	B	0.07%	0.05%	0.05%
	HPQ	B	0.07%	0.06%	0.06%
	HRL	D	0.02%	0.02%	0.02%
	HSIC	B	0.02%	0.02%	0.02%
	HST	C	0.03%	0.02%	0.02%
	HSY	F	0.05%	0.05%	0.05%
	HUBB	B	0.05%	0.04%	0.04%
	HUM	C	0.08%	0.06%	0.06%
	HWM	A	0.09%	0.09%	0.09%
	IBM	C	0.39%	0.35%	0.35%
	ICE	C	0.19%	0.16%	0.16%
	IDXX	F	0.07%	0.06%	0.06%
	IEX	B	0.04%	0.03%	0.03%
	IFF	D	0.05%	0.04%	0.04%
	INCY	C	0.03%	0.02%	0.02%
	INTC	D	0.25%	0.19%	0.19%
	INTU	C	0.4%	0.32%	0.32%
	INVH	D	0.04%	0.04%	0.04%
	IP	B	0.04%	0.04%	0.04%
	IPG	D	0.02%	0.02%	0.02%
	IQV	D	0.08%	0.06%	0.06%
	IR	B	0.09%	0.08%	0.08%
	ISRG	A	0.4%	0.35%	0.35%
	IT	C	0.09%	0.07%	0.07%
	ITW	B	0.16%	0.14%	0.14%
	IVZ	B	0.02%	0.01%	0.01%
	J	F	0.04%	0.03%	0.03%
	JBHT	C	0.03%	0.03%	0.03%
	JBL	B	0.03%	0.03%	0.03%
	JCI	C	0.12%	0.1%	0.1%
	JKHY	D	0.03%	0.02%	0.02%
	JNJ	D	0.77%	0.67%	0.67%
	JNPR	F	0.03%	0.02%	0.02%
	JPM	A	1.59%	1.26%	1.26%
	K	A	0.05%	0.04%	0.04%
	KDP	D	0.07%	0.06%	0.06%
	KEY	B	0.04%	0.03%	0.03%
	KEYS	A	0.06%	0.05%	0.05%
	KHC	F	0.05%	0.04%	0.04%
	KIM	A	0.03%	0.03%	0.03%
	KKR	A	0.22%	0.19%	0.19%
	KLAC	D	0.2%	0.15%	0.15%
	KMB	D	0.09%	0.08%	0.08%
	KMI	A	0.11%	0.1%	0.1%
	KMX	B	0.03%	0.02%	0.02%
	KO	D	0.52%	0.44%	0.44%
	KR	B	0.09%	0.07%	0.07%
	KVUE	A	0.09%	0.08%	0.08%
	L	A	0.03%	0.03%	0.03%
	LDOS	C	0.05%	0.04%	0.04%
	LEN	D	0.09%	0.0%	0.0%
	LEN	D	0.09%	0.07%	0.07%
	LH	C	0.05%	0.04%	0.04%
	LHX	C	0.1%	0.08%	0.08%
	LIN	D	0.47%	0.39%	0.39%
	LKQ	D	0.02%	0.02%	0.02%
	LLY	F	1.38%	1.13%	1.13%
	LMT	D	0.24%	0.23%	0.23%
	LNT	A	0.03%	0.03%	0.03%
	LRCX	F	0.22%	0.17%	0.17%
	LULU	C	0.08%	0.06%	0.06%
	LUV	C	0.04%	0.04%	0.04%
	LW	C	0.02%	0.02%	0.02%
	LYB	F	0.05%	0.04%	0.04%
	MA	C	0.89%	0.78%	0.78%
	MAA	B	0.04%	0.03%	0.03%
	MAS	D	0.04%	0.03%	0.03%
	MCHP	D	0.08%	0.06%	0.06%
	MCK	B	0.18%	0.15%	0.15%
	MCO	B	0.16%	0.13%	0.13%
	MDLZ	F	0.18%	0.16%	0.16%
	MDT	D	0.24%	0.2%	0.2%
	MET	A	0.11%	0.09%	0.09%
	META	D	2.71%	2.23%	2.23%
	MGM	D	0.02%	0.02%	0.02%
	MHK	D	0.02%	0.01%	0.01%
	MKC	D	0.04%	0.03%	0.03%
	MKTX	D	0.02%	0.02%	0.02%
	MLM	B	0.08%	0.07%	0.07%
	MMC	B	0.23%	0.2%	0.2%
	MMM	D	0.16%	0.13%	0.13%
	MNST	C	0.08%	0.07%	0.07%
	MO	A	0.2%	0.17%	0.17%
	MOH	F	0.04%	0.03%	0.03%
	MOS	F	0.02%	0.02%	0.02%
	MPC	D	0.13%	0.1%	0.1%
	MPWR	F	0.06%	0.05%	0.05%
	MRK	F	0.54%	0.45%	0.45%
	MRNA	F	0.03%	0.02%	0.02%
	MRO	B	0.04%	0.03%	0.03%
	MS	A	0.37%	0.3%	0.3%
	MSFT	F	6.58%	5.59%	5.59%
	MSI	B	0.18%	0.15%	0.15%
	MTB	A	0.08%	0.06%	0.06%
	MU	D	0.25%	0.2%	0.2%
	NCLH	B	0.02%	0.02%	0.02%
	NDAQ	A	0.07%	0.06%	0.06%
	NEE	D	0.31%	0.29%	0.29%
	NFLX	A	0.78%	0.67%	0.67%
	NI	A	0.03%	0.03%	0.03%
	NKE	D	0.2%	0.16%	0.16%
	NOC	D	0.15%	0.13%	0.13%
	NOW	A	0.44%	0.38%	0.38%
	NRG	B	0.04%	0.04%	0.04%
	NSC	B	0.13%	0.11%	0.11%
	NTAP	C	0.05%	0.05%	0.05%
	NTRS	A	0.05%	0.04%	0.04%
	NUE	C	0.08%	0.06%	0.06%
	NVDA	C	7.76%	6.32%	6.32%
	NVR	D	0.06%	0.05%	0.05%
	NWSA	B	0.03%	0.02%	0.02%
	O	D	0.1%	0.09%	0.09%
	ODFL	B	0.09%	0.07%	0.07%
	OKE	A	0.14%	0.12%	0.12%
	OMC	C	0.04%	0.03%	0.03%
	ON	D	0.07%	0.05%	0.05%
	OXY	D	0.08%	0.06%	0.06%
	PANW	C	0.28%	0.23%	0.23%
	PARA	C	0.01%	0.01%	0.01%
	PAYC	B	0.02%	0.02%	0.02%
	PAYX	C	0.1%	0.08%	0.08%
	PCAR	B	0.13%	0.1%	0.1%
	PCG	A	0.09%	0.08%	0.08%
	PEG	A	0.09%	0.08%	0.08%
	PEP	F	0.47%	0.39%	0.39%
	PFG	D	0.04%	0.04%	0.04%
	PG	A	0.82%	0.73%	0.73%
	PGR	A	0.32%	0.27%	0.27%
	PH	A	0.19%	0.16%	0.16%
	PHM	D	0.06%	0.05%	0.05%
	PKG	A	0.05%	0.04%	0.04%
	PLD	D	0.22%	0.19%	0.19%
	PM	B	0.41%	0.37%	0.37%
	PNC	B	0.18%	0.15%	0.15%
	PNR	A	0.04%	0.03%	0.03%
	PNW	B	0.02%	0.02%	0.02%
	POOL	C	0.03%	0.03%	0.03%
	PPG	F	0.06%	0.05%	0.05%
	PPL	B	0.05%	0.05%	0.05%
	PRU	A	0.1%	0.08%	0.08%
	PSA	D	0.11%	0.1%	0.1%
	PSX	C	0.13%	0.1%	0.1%
	PTC	A	0.05%	0.04%	0.04%
	PWR	A	0.1%	0.09%	0.09%
	PYPL	B	0.2%	0.16%	0.16%
	QCOM	F	0.41%	0.33%	0.33%
	QRVO	F	0.01%	0.01%	0.01%
	RCL	A	0.12%	0.1%	0.1%
	REG	B	0.03%	0.02%	0.02%
	REGN	F	0.18%	0.14%	0.14%
	RF	A	0.05%	0.04%	0.04%
	RJF	A	0.06%	0.06%	0.06%
	RL	B	0.02%	0.02%	0.02%
	RMD	C	0.07%	0.06%	0.06%
	ROK	B	0.07%	0.06%	0.06%
	ROL	B	0.03%	0.03%	0.03%
	ROP	B	0.13%	0.11%	0.11%
	ROST	C	0.1%	0.08%	0.08%
	RSG	A	0.09%	0.08%	0.08%
	RTX	C	0.34%	0.29%	0.29%
	RVTY	F	0.03%	0.03%	0.03%
	SCHW	B	0.26%	0.22%	0.22%
	SHW	A	0.19%	0.16%	0.16%
	SLB	C	0.14%	0.11%	0.11%
	SMCI	F	0.02%	0.03%	0.02%
	SNA	A	0.04%	0.03%	0.03%
	SNPS	B	0.19%	0.15%	0.15%
	SO	D	0.19%	0.18%	0.18%
	SOLV	C	0.02%	0.02%	0.02%
	SPG	B	0.13%	0.11%	0.11%
	SPGI	C	0.34%	0.29%	0.29%
	SRE	A	0.12%	0.11%	0.11%
	STE	F	0.05%	0.04%	0.04%
	STLD	B	0.05%	0.04%	0.04%
	STT	A	0.06%	0.05%	0.05%
	STZ	D	0.08%	0.07%	0.07%
	SW	A	0.06%	0.05%	0.05%
	SWK	D	0.03%	0.02%	0.02%
	SWKS	F	0.03%	0.02%	0.02%
	SYF	B	0.06%	0.05%	0.05%
	SYK	C	0.27%	0.23%	0.23%
	SYY	B	0.08%	0.07%	0.07%
	T	A	0.31%	0.3%	0.3%
	TAP	C	0.02%	0.02%	0.02%
	TDY	B	0.05%	0.04%	0.04%
	TER	D	0.04%	0.03%	0.03%
	TFC	A	0.14%	0.11%	0.11%
	TFX	F	0.02%	0.02%	0.02%
	TGT	F	0.16%	0.13%	0.13%
	TJX	A	0.28%	0.25%	0.25%
	TMO	F	0.43%	0.35%	0.35%
	TMUS	B	0.26%	0.21%	0.21%
	TPR	B	0.03%	0.02%	0.02%
	TRGP	B	0.09%	0.08%	0.08%
	TROW	B	0.06%	0.05%	0.05%
	TRV	B	0.12%	0.11%	0.11%
	TSCO	D	0.06%	0.05%	0.05%
	TSN	B	0.04%	0.03%	0.03%
	TT	A	0.2%	0.17%	0.17%
	TTWO	A	0.06%	0.06%	0.06%
	TXN	C	0.42%	0.33%	0.33%
	TXT	D	0.04%	0.03%	0.03%
	TYL	B	0.06%	0.05%	0.05%
	UAL	A	0.06%	0.06%	0.06%
	UBER	D	0.33%	0.26%	0.26%
	UDR	B	0.03%	0.03%	0.03%
	UHS	D	0.03%	0.02%	0.02%
	ULTA	F	0.04%	0.03%	0.03%
	UNH	C	1.15%	0.97%	0.97%
	UNP	C	0.31%	0.26%	0.26%
	UPS	C	0.2%	0.18%	0.18%
	URI	B	0.13%	0.1%	0.1%
	USB	A	0.17%	0.14%	0.14%
	V	A	0.99%	0.95%	0.95%
	VICI	C	0.07%	0.06%	0.06%
	VLO	C	0.11%	0.08%	0.08%
	VLTO	D	0.05%	0.04%	0.04%
	VMC	B	0.08%	0.07%	0.07%
	VRSK	A	0.09%	0.07%	0.07%
	VRTX	F	0.27%	0.21%	0.21%
	VST	B	0.1%	0.1%	0.1%
	VTR	C	0.05%	0.05%	0.05%
	VTRS	A	0.03%	0.03%	0.03%
	VZ	C	0.34%	0.32%	0.32%
	WAB	B	0.08%	0.06%	0.06%
	WAT	B	0.05%	0.04%	0.04%
	WBA	F	0.01%	0.01%	0.01%
	WBD	C	0.05%	0.04%	0.04%
	WDC	D	0.04%	0.04%	0.04%
	WEC	A	0.06%	0.06%	0.06%
	WELL	A	0.16%	0.15%	0.15%
	WFC	A	0.58%	0.46%	0.46%
	WM	A	0.17%	0.16%	0.16%
	WMB	A	0.15%	0.13%	0.13%
	WMT	A	0.74%	0.69%	0.69%
	WRB	A	0.04%	0.03%	0.03%
	WST	C	0.05%	0.04%	0.04%
	WTW	B	0.07%	0.06%	0.06%
	WY	D	0.05%	0.04%	0.04%
	XEL	A	0.08%	0.07%	0.07%
	XOM	B	1.22%	0.96%	0.96%
	XYL	D	0.07%	0.05%	0.05%
	ZBH	C	0.05%	0.04%	0.04%
	ZBRA	B	0.04%	0.04%	0.04%
	ZTS	D	0.16%	0.15%	0.15%

QVML Overweight 1 Positions Relative to GUSA

	Symbol	Grade	Weight
	NXPI	D	0.13%

QVML Underweight 528 Positions Relative to GUSA

	Symbol	Grade	Weight
	GOOGL	C	-1.9%
	TSLA	B	-1.76%
	ORCL	B	-0.56%
	MCD	D	-0.38%
	LOW	D	-0.27%
	AMGN	D	-0.27%
	PFE	D	-0.26%
	PLTR	B	-0.23%
	BMY	B	-0.22%
	SBUX	A	-0.2%
	AMT	D	-0.17%
	BA	F	-0.16%
	EQIX	A	-0.16%
	MELI	D	-0.16%
	MRVL	B	-0.14%
	MSTR	C	-0.14%
	APO	B	-0.13%
	TDG	D	-0.13%
	ORLY	B	-0.13%
	APD	A	-0.13%
	APP	B	-0.13%
	COIN	C	-0.12%
	SPOT	B	-0.12%
	MAR	B	-0.12%
	HLT	A	-0.11%
	TTD	B	-0.1%
	WDAY	B	-0.1%
	FICO	B	-0.1%
	DASH	A	-0.1%
	FLUT	A	-0.09%
	VRT	B	-0.09%
	LNG	B	-0.09%
	NEM	D	-0.09%
	SQ	B	-0.09%
	SNOW	C	-0.08%
	CCI	D	-0.08%
	MSCI	C	-0.08%
	YUM	B	-0.07%
	TEAM	A	-0.07%
	DDOG	A	-0.07%
	OTIS	C	-0.07%
	DELL	C	-0.07%
	ARES	A	-0.06%
	VEEV	C	-0.06%
	TPL	A	-0.06%
	HUBS	A	-0.06%
	IRM	D	-0.06%
	FCNCA	A	-0.05%
	RBLX	C	-0.05%
	CPNG	D	-0.05%
	CVNA	B	-0.05%
	NET	B	-0.05%
	DXCM	D	-0.05%
	ALNY	D	-0.05%
	STX	D	-0.04%
	IBKR	A	-0.04%
	LYV	A	-0.04%
	LII	A	-0.04%
	CSL	C	-0.04%
	ZM	B	-0.04%
	DKNG	B	-0.04%
	MDB	C	-0.04%
	CLX	B	-0.04%
	MKL	A	-0.04%
	ILMN	D	-0.04%
	BIIB	F	-0.04%
	SBAC	D	-0.04%
	LPLA	A	-0.04%
	EME	C	-0.04%
	MTD	D	-0.04%
	SAIA	B	-0.03%
	NDSN	B	-0.03%
	DT	C	-0.03%
	EL	F	-0.03%
	CW	B	-0.03%
	SFM	A	-0.03%
	EWBC	A	-0.03%
	ACM	A	-0.03%
	AFRM	B	-0.03%
	TWLO	A	-0.03%
	EQH	B	-0.03%
	FLEX	A	-0.03%
	UTHR	C	-0.03%
	GGG	B	-0.03%
	ENTG	D	-0.03%
	USFD	A	-0.03%
	VRSN	F	-0.03%
	RGA	A	-0.03%
	CASY	A	-0.03%
	GWRE	A	-0.03%
	TOL	B	-0.03%
	PSTG	D	-0.03%
	DPZ	C	-0.03%
	TW	A	-0.03%
	SSNC	B	-0.03%
	SUI	D	-0.03%
	FNF	B	-0.03%
	HEI	B	-0.03%
	DOCU	A	-0.03%
	TOST	B	-0.03%
	WSM	B	-0.03%
	MANH	D	-0.03%
	OC	A	-0.03%
	XPO	B	-0.03%
	NTNX	A	-0.03%
	RS	B	-0.03%
	TRMB	B	-0.03%
	FIX	A	-0.03%
	RPM	A	-0.03%
	LVS	C	-0.03%
	HOOD	B	-0.03%
	BAH	F	-0.03%
	BURL	A	-0.03%
	YUMC	C	-0.03%
	PINS	D	-0.03%
	WSO	A	-0.03%
	PODD	C	-0.03%
	TRU	D	-0.03%
	ZS	C	-0.03%
	NTRA	B	-0.03%
	SKX	D	-0.02%
	CFR	B	-0.02%
	EGP	F	-0.02%
	RRC	B	-0.02%
	GPK	C	-0.02%
	TTC	D	-0.02%
	PR	B	-0.02%
	PLNT	A	-0.02%
	SNX	C	-0.02%
	PCTY	B	-0.02%
	WYNN	D	-0.02%
	RBC	A	-0.02%
	CNH	C	-0.02%
	CBSH	A	-0.02%
	CR	A	-0.02%
	HQY	B	-0.02%
	EXEL	B	-0.02%
	AXTA	A	-0.02%
	ZION	B	-0.02%
	GLOB	B	-0.02%
	RVMD	C	-0.02%
	WMS	D	-0.02%
	OGE	B	-0.02%
	MORN	B	-0.02%
	PEN	B	-0.02%
	BILL	A	-0.02%
	X	C	-0.02%
	TPX	B	-0.02%
	ORI	A	-0.02%
	KNX	B	-0.02%
	AR	B	-0.02%
	QGEN	D	-0.02%
	FLR	B	-0.02%
	CMA	A	-0.02%
	CRS	A	-0.02%
	BRX	A	-0.02%
	MTZ	B	-0.02%
	FN	D	-0.02%
	FBIN	D	-0.02%
	SCCO	F	-0.02%
	DCI	B	-0.02%
	ROKU	D	-0.02%
	WCC	B	-0.02%
	INGR	B	-0.02%
	TKO	B	-0.02%
	PNFP	B	-0.02%
	REXR	F	-0.02%
	DOX	D	-0.02%
	AAL	B	-0.02%
	GMED	A	-0.02%
	BRBR	A	-0.02%
	SRPT	D	-0.02%
	HLI	B	-0.02%
	ARMK	B	-0.02%
	CHDN	B	-0.02%
	CIEN	B	-0.02%
	WAL	B	-0.02%
	AYI	B	-0.02%
	ALLY	C	-0.02%
	EXAS	D	-0.02%
	LAD	A	-0.02%
	AES	F	-0.02%
	RGLD	C	-0.02%
	EHC	B	-0.02%
	RPRX	D	-0.02%
	LBRDK	C	-0.02%
	CACI	D	-0.02%
	OHI	C	-0.02%
	AFG	A	-0.02%
	EXP	A	-0.02%
	MUSA	A	-0.02%
	WING	D	-0.02%
	PRI	A	-0.02%
	RDDT	B	-0.02%
	ALSN	B	-0.02%
	DTM	B	-0.02%
	PCVX	D	-0.02%
	WBS	A	-0.02%
	MLI	C	-0.02%
	AIT	A	-0.02%
	WWD	B	-0.02%
	IOT	A	-0.02%
	TECH	D	-0.02%
	BLD	D	-0.02%
	ERIE	D	-0.02%
	FND	C	-0.02%
	KNSL	B	-0.02%
	FHN	A	-0.02%
	GME	C	-0.02%
	CTLT	B	-0.02%
	WTRG	B	-0.02%
	EVR	B	-0.02%
	CCK	C	-0.02%
	TTEK	F	-0.02%
	OVV	B	-0.02%
	SNAP	C	-0.02%
	ATR	B	-0.02%
	CUBE	D	-0.02%
	LAMR	D	-0.02%
	CG	A	-0.02%
	SF	B	-0.02%
	BJ	A	-0.02%
	HEI	B	-0.02%
	DKS	C	-0.02%
	LECO	B	-0.02%
	RRX	B	-0.02%
	BMRN	D	-0.02%
	AA	B	-0.02%
	Z	A	-0.02%
	SJM	D	-0.02%
	NBIX	C	-0.02%
	INSM	C	-0.02%
	DUOL	A	-0.02%
	SCI	B	-0.02%
	OKTA	C	-0.02%
	JEF	A	-0.02%
	BWXT	B	-0.02%
	JLL	D	-0.02%
	ITT	A	-0.02%
	WPC	D	-0.02%
	FTI	A	-0.02%
	CLH	B	-0.02%
	NVT	B	-0.02%
	ALB	C	-0.02%
	AMH	D	-0.02%
	PFGC	B	-0.02%
	ELS	C	-0.02%
	TXRH	C	-0.02%
	OWL	A	-0.02%
	AVTR	F	-0.02%
	COHR	B	-0.02%
	GLPI	C	-0.02%
	UNM	A	-0.02%
	THC	D	-0.02%
	RNR	C	-0.02%
	SOFI	A	-0.02%
	ADTN	A	-0.01%
	AMKR	D	-0.01%
	TNET	D	-0.01%
	HESM	B	-0.01%
	CACC	D	-0.01%
	SATS	D	-0.01%
	COLM	B	-0.01%
	PAG	B	-0.01%
	NSA	D	-0.01%
	CRVL	A	-0.01%
	HUN	F	-0.01%
	NUVL	D	-0.01%
	NWS	B	-0.01%
	GFS	C	-0.01%
	DNB	B	-0.01%
	ZG	A	-0.01%
	ACHC	F	-0.01%
	IAC	D	-0.01%
	DDS	B	-0.01%
	LANC	C	-0.01%
	PII	D	-0.01%
	MDU	D	-0.01%
	MSM	C	-0.01%
	ASGN	F	-0.01%
	RYN	D	-0.01%
	OPCH	D	-0.01%
	M	D	-0.01%
	OGN	D	-0.01%
	W	F	-0.01%
	ASH	D	-0.01%
	ZETA	D	-0.01%
	ENLC	A	-0.01%
	HOG	D	-0.01%
	XRAY	F	-0.01%
	SIG	B	-0.01%
	STEP	B	-0.01%
	FLO	D	-0.01%
	ROIV	C	-0.01%
	CELH	F	-0.01%
	NSIT	F	-0.01%
	WLK	D	-0.01%
	CHH	A	-0.01%
	WMG	C	-0.01%
	CIVI	D	-0.01%
	GAP	C	-0.01%
	DLB	B	-0.01%
	EEFT	B	-0.01%
	APPF	B	-0.01%
	AN	C	-0.01%
	SLGN	A	-0.01%
	PSN	D	-0.01%
	BRKR	D	-0.01%
	CHWY	B	-0.01%
	SWX	B	-0.01%
	KRC	C	-0.01%
	MGY	A	-0.01%
	BYD	C	-0.01%
	TENB	C	-0.01%
	FIVE	F	-0.01%
	CNM	D	-0.01%
	MUR	D	-0.01%
	ST	F	-0.01%
	IONS	F	-0.01%
	EXPO	D	-0.01%
	RH	B	-0.01%
	VKTX	F	-0.01%
	TKR	D	-0.01%
	SON	D	-0.01%
	MMS	F	-0.01%
	SN	D	-0.01%
	OLN	D	-0.01%
	HXL	D	-0.01%
	IBP	D	-0.01%
	PATH	C	-0.01%
	NXST	C	-0.01%
	FFIN	B	-0.01%
	AL	B	-0.01%
	SEE	C	-0.01%
	ABG	B	-0.01%
	HCP	B	-0.01%
	SM	B	-0.01%
	VVV	F	-0.01%
	INSP	D	-0.01%
	UGI	A	-0.01%
	QLYS	C	-0.01%
	OZK	B	-0.01%
	GATX	A	-0.01%
	POST	C	-0.01%
	BC	C	-0.01%
	CYTK	F	-0.01%
	AM	A	-0.01%
	LEA	D	-0.01%
	AMG	B	-0.01%
	LNTH	D	-0.01%
	CLF	F	-0.01%
	CRUS	D	-0.01%
	BROS	B	-0.01%
	UBSI	B	-0.01%
	SIRI	C	-0.01%
	NFG	A	-0.01%
	THO	B	-0.01%
	EDR	A	-0.01%
	PVH	C	-0.01%
	TPG	A	-0.01%
	FOX	A	-0.01%
	HALO	F	-0.01%
	ETSY	D	-0.01%
	RMBS	C	-0.01%
	WTS	B	-0.01%
	VNT	B	-0.01%
	JHG	A	-0.01%
	FOUR	B	-0.01%
	PCOR	B	-0.01%
	SUM	B	-0.01%
	AGCO	D	-0.01%
	LNC	B	-0.01%
	AUR	C	-0.01%
	THG	A	-0.01%
	ALTR	B	-0.01%
	ESNT	D	-0.01%
	CROX	D	-0.01%
	SAIC	F	-0.01%
	CHX	C	-0.01%
	U	C	-0.01%
	STWD	C	-0.01%
	WFRD	D	-0.01%
	SIGI	C	-0.01%
	BPMC	C	-0.01%
	LFUS	F	-0.01%
	IDA	A	-0.01%
	NOVT	D	-0.01%
	LYFT	C	-0.01%
	WHR	B	-0.01%
	UHAL	D	-0.01%
	SITE	D	-0.01%
	ESI	A	-0.01%
	ARW	D	-0.01%
	GBCI	B	-0.01%
	BBWI	D	-0.01%
	MSA	D	-0.01%
	MAT	D	-0.01%
	DBX	B	-0.01%
	COLD	D	-0.01%
	NOV	C	-0.01%
	COKE	C	-0.01%
	CFLT	B	-0.01%
	BFAM	D	-0.01%
	MTN	C	-0.01%
	DOCS	C	-0.01%
	VNO	B	-0.01%
	DINO	D	-0.01%
	MTH	D	-0.01%
	OMF	A	-0.01%
	BIO	D	-0.01%
	LSTR	D	-0.01%
	SPSC	C	-0.01%
	MTDR	B	-0.01%
	FYBR	D	-0.01%
	ONB	B	-0.01%
	STAG	F	-0.01%
	ELAN	D	-0.01%
	WSC	D	-0.01%
	H	B	-0.01%
	RHP	B	-0.01%
	FAF	A	-0.01%
	ELF	C	-0.01%
	DAR	C	-0.01%
	MOD	A	-0.01%
	AXS	A	-0.01%
	RGEN	D	-0.01%
	LSCC	D	-0.01%
	AZEK	A	-0.01%
	LNW	D	-0.01%
	ALV	C	-0.01%
	AGNC	D	-0.01%
	BPOP	B	-0.01%
	HLNE	B	-0.01%
	FCN	D	-0.01%
	EXLS	B	-0.01%
	ALK	C	-0.01%
	CGNX	C	-0.01%
	GNTX	C	-0.01%
	VMI	B	-0.01%
	RYAN	B	-0.01%
	MTSI	B	-0.01%
	ANF	C	-0.01%
	RIVN	F	-0.01%
	GXO	B	-0.01%
	MKSI	C	-0.01%
	ESAB	B	-0.01%
	CMC	B	-0.01%
	TMHC	B	-0.01%
	FR	C	-0.01%
	RLI	B	-0.01%
	OSK	B	-0.01%
	GTLS	B	-0.01%
	WEX	D	-0.01%
	S	B	-0.01%
	ATI	D	-0.01%
	APG	B	-0.01%
	JAZZ	B	-0.01%
	VFC	C	-0.01%
	MTCH	D	-0.01%
	RHI	B	-0.01%
	CRBG	B	-0.01%
	OLED	D	-0.01%
	LPX	B	-0.01%
	CVLT	B	-0.01%
	WH	B	-0.01%
	G	B	-0.01%
	MIDD	C	-0.01%
	ESTC	C	-0.01%
	MASI	A	-0.01%
	JXN	C	-0.01%
	TREX	C	-0.01%
	GTLB	B	-0.01%
	SMAR	A	-0.01%
	MEDP	D	-0.01%
	BSY	D	-0.01%
	PB	A	-0.01%
	KEX	C	-0.01%
	ITCI	C	-0.01%
	UFPI	B	-0.01%
	GKOS	B	-0.01%
	KBR	F	-0.01%
	SSD	D	-0.01%
	BERY	B	-0.01%
	ADC	B	-0.01%
	HRB	D	-0.01%
	VOYA	B	-0.01%
	SNV	B	-0.01%
	CHE	D	-0.01%
	ENSG	D	-0.01%
	CHRD	D	-0.01%
	ONTO	D	-0.01%
	FLS	B	-0.01%
	SSB	B	-0.01%
	ENPH	F	-0.01%
	NNN	D	-0.01%
	HAS	D	-0.01%
	SEIC	B	-0.01%
	NYT	C	-0.01%
	WTFC	A	-0.01%
	ACI	C	-0.01%
	AAON	B	-0.01%
	UWMC	D	-0.0%
	UHAL	D	-0.0%
	BLCO	D	-0.0%
	CWEN	C	-0.0%
	CNA	B	-0.0%
	BIRK	D	-0.0%
	DJT	C	-0.0%
	INFA	D	-0.0%
	LBRDA	C	-0.0%
	IMVT	F	-0.0%
	REYN	D	-0.0%
	LEVI	F	-0.0%
	RKT	F	-0.0%
	CLVT	F	-0.0%
	LCID	F	-0.0%
	IGT	F	-0.0%
	PPC	C	-0.0%
	SMMT	D	-0.0%
	RCM	F	-0.0%
	KNTK	B	-0.0%
	CWEN	C	-0.0%
	CPRI	F	-0.0%
	BBIO	F	-0.0%
	COTY	F	-0.0%
	AGR	B	-0.0%
	STNG	F	-0.0%
	BOKF	B	-0.0%

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

GUSA: Top Represented Industries & Keywords

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

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