QVML vs. PBUS ETF Comparison

Comparison of Invesco S&P 500 QVM Multi-factor ETF (QVML) to Invesco PureBeta MSCI USA ETF (PBUS)

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

$33.82

Average Daily Volume

1,105

Number of Holdings ^*

444

* may have additional holdings in another (foreign) market

PBUS

Invesco PureBeta MSCI USA ETF

PBUS Description

The investment seeks to track the investment results (before fees and expenses) of the MSCI USA Index (the underlying index). The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The index is designed to measure the performance of the large- and mid-capitalization segments of the U.S. equity market.

Grade (RS Rating)

Last Trade

$57.11

Average Daily Volume

66,586

Number of Holdings ^*

580

* may have additional holdings in another (foreign) market

Performance

Period	QVML	PBUS
30 Days	2.09%	2.26%
60 Days	3.90%	4.06%
90 Days	4.37%	4.95%
12 Months	32.66%	31.71%

430 Overlapping Holdings

	Symbol	Grade	Weight in QVML	Weight in PBUS	Overlap
	A	C	0.09%	0.08%	0.08%
	AAPL	C	6.84%	6.7%	6.7%
	ABBV	C	0.78%	0.74%	0.74%
	ABNB	D	0.12%	0.11%	0.11%
	ABT	C	0.47%	0.43%	0.43%
	ACGL	C	0.1%	0.09%	0.09%
	ACN	C	0.51%	0.46%	0.46%
	ADBE	F	0.6%	0.53%	0.53%
	ADI	C	0.25%	0.23%	0.23%
	ADM	D	0.08%	0.06%	0.06%
	ADP	B	0.27%	0.24%	0.24%
	ADSK	C	0.12%	0.12%	0.12%
	AEE	C	0.05%	0.05%	0.05%
	AEP	C	0.13%	0.11%	0.11%
	AFL	C	0.14%	0.12%	0.12%
	AIG	D	0.13%	0.1%	0.1%
	AIZ	B	0.02%	0.02%	0.02%
	AJG	D	0.15%	0.14%	0.14%
	AKAM	D	0.04%	0.03%	0.03%
	ALB	D	0.03%	0.02%	0.02%
	ALGN	D	0.04%	0.03%	0.03%
	ALL	B	0.12%	0.1%	0.1%
	ALLE	B	0.03%	0.03%	0.03%
	AMAT	D	0.32%	0.31%	0.31%
	AMCR	B	0.04%	0.03%	0.03%
	AMD	D	0.59%	0.48%	0.48%
	AME	C	0.09%	0.08%	0.08%
	AMP	A	0.1%	0.09%	0.09%
	AMZN	C	3.79%	3.51%	3.51%
	ANET	B	0.2%	0.18%	0.18%
	ANSS	D	0.06%	0.06%	0.06%
	AOS	D	0.02%	0.02%	0.02%
	APA	F	0.02%	0.02%	0.02%
	APH	D	0.17%	0.15%	0.15%
	APTV	D	0.05%	0.04%	0.04%
	ARE	C	0.05%	0.04%	0.04%
	ATO	B	0.05%	0.04%	0.04%
	AVB	B	0.08%	0.07%	0.07%
	AVGO	C	1.51%	1.37%	1.37%
	AVY	C	0.04%	0.04%	0.04%
	AXON	B	0.06%	0.05%	0.05%
	AXP	B	0.37%	0.3%	0.3%
	BAC	D	0.63%	0.58%	0.58%
	BALL	C	0.05%	0.04%	0.04%
	BAX	C	0.05%	0.04%	0.04%
	BBWI	F	0.02%	0.01%	0.01%
	BBY	C	0.04%	0.04%	0.04%
	BDX	D	0.16%	0.14%	0.14%
	BEN	F	0.01%	0.01%	0.01%
	BG	D	0.03%	0.03%	0.03%
	BIO	C	0.02%	0.01%	0.01%
	BK	B	0.12%	0.1%	0.1%
	BKNG	C	0.31%	0.27%	0.27%
	BKR	C	0.08%	0.07%	0.07%
	BLDR	C	0.05%	0.04%	0.04%
	BLK	B	0.29%	0.27%	0.27%
	BR	D	0.06%	0.05%	0.05%
	BRK.A	C	1.95%	1.27%	1.27%
	BRO	C	0.06%	0.05%	0.05%
	BSX	B	0.28%	0.26%	0.26%
	BX	B	0.24%	0.21%	0.21%
	BXP	B	0.03%	0.02%	0.02%
	C	C	0.27%	0.23%	0.23%
	CAG	C	0.04%	0.03%	0.03%
	CAH	C	0.06%	0.06%	0.06%
	CARR	B	0.14%	0.12%	0.12%
	CAT	B	0.42%	0.34%	0.34%
	CB	B	0.28%	0.23%	0.23%
	CBOE	C	0.05%	0.05%	0.05%
	CBRE	A	0.08%	0.08%	0.08%
	CCL	C	0.04%	0.03%	0.03%
	CDNS	D	0.16%	0.15%	0.15%
	CDW	D	0.07%	0.06%	0.06%
	CE	F	0.03%	0.03%	0.03%
	CEG	C	0.14%	0.12%	0.12%
	CF	C	0.04%	0.03%	0.03%
	CFG	C	0.04%	0.04%	0.04%
	CHD	D	0.06%	0.05%	0.05%
	CHRW	B	0.03%	0.02%	0.02%
	CHTR	D	0.08%	0.06%	0.06%
	CI	C	0.25%	0.21%	0.21%
	CINF	B	0.05%	0.04%	0.04%
	CL	D	0.2%	0.17%	0.17%
	CLX	C	0.05%	0.04%	0.04%
	CMCSA	D	0.39%	0.32%	0.32%
	CME	C	0.19%	0.16%	0.16%
	CMG	C	0.18%	0.16%	0.16%
	CMI	C	0.1%	0.08%	0.08%
	CMS	C	0.05%	0.04%	0.04%
	CNC	D	0.1%	0.08%	0.08%
	CNP	C	0.04%	0.04%	0.04%
	COF	B	0.12%	0.11%	0.11%
	COP	D	0.29%	0.25%	0.25%
	COST	B	0.91%	0.83%	0.83%
	CPAY	B	0.06%	0.04%	0.04%
	CPB	C	0.03%	0.02%	0.02%
	CPRT	D	0.1%	0.09%	0.09%
	CPT	B	0.03%	0.03%	0.03%
	CRL	F	0.02%	0.02%	0.02%
	CRM	D	0.57%	0.5%	0.5%
	CSCO	C	0.48%	0.41%	0.41%
	CSGP	D	0.07%	0.07%	0.07%
	CSX	D	0.16%	0.14%	0.14%
	CTAS	B	0.16%	0.16%	0.16%
	CTRA	D	0.04%	0.04%	0.04%
	CTSH	C	0.09%	0.08%	0.08%
	CTVA	B	0.1%	0.08%	0.08%
	CVS	D	0.17%	0.15%	0.15%
	CVX	D	0.6%	0.51%	0.51%
	D	C	0.12%	0.1%	0.1%
	DAL	C	0.07%	0.01%	0.01%
	DAY	D	0.02%	0.02%	0.02%
	DD	B	0.08%	0.07%	0.07%
	DE	B	0.24%	0.21%	0.21%
	DECK	C	0.06%	0.05%	0.05%
	DFS	B	0.08%	0.07%	0.07%
	DG	F	0.05%	0.04%	0.04%
	DGX	B	0.04%	0.04%	0.04%
	DHI	B	0.14%	0.12%	0.12%
	DHR	B	0.41%	0.38%	0.38%
	DIS	D	0.4%	0.34%	0.34%
	DLR	B	0.12%	0.11%	0.11%
	DLTR	F	0.04%	0.03%	0.03%
	DOC	C	0.04%	0.03%	0.03%
	DOV	B	0.06%	0.05%	0.05%
	DOW	D	0.08%	0.07%	0.07%
	DPZ	F	0.03%	0.03%	0.03%
	DRI	B	0.04%	0.04%	0.04%
	DTE	C	0.06%	0.05%	0.05%
	DUK	C	0.21%	0.19%	0.19%
	DVA	B	0.02%	0.02%	0.02%
	DVN	F	0.06%	0.05%	0.05%
	EA	D	0.08%	0.08%	0.08%
	EBAY	B	0.08%	0.06%	0.06%
	ECL	B	0.14%	0.13%	0.13%
	ED	C	0.09%	0.08%	0.08%
	EFX	B	0.08%	0.08%	0.08%
	EG	C	0.04%	0.03%	0.03%
	EIX	C	0.08%	0.07%	0.07%
	ELV	C	0.3%	0.26%	0.26%
	EMN	B	0.03%	0.02%	0.02%
	EMR	D	0.14%	0.12%	0.12%
	EOG	D	0.17%	0.14%	0.14%
	EPAM	F	0.03%	0.02%	0.02%
	EQR	B	0.06%	0.05%	0.05%
	EQT	D	0.03%	0.04%	0.03%
	ES	C	0.06%	0.05%	0.05%
	ESS	B	0.05%	0.04%	0.04%
	ETN	C	0.29%	0.24%	0.24%
	ETR	B	0.06%	0.05%	0.05%
	EVRG	B	0.03%	0.03%	0.03%
	EW	F	0.1%	0.08%	0.08%
	EXC	C	0.1%	0.08%	0.08%
	EXPD	C	0.04%	0.04%	0.04%
	EXPE	C	0.04%	0.04%	0.04%
	EXR	B	0.09%	0.08%	0.08%
	F	F	0.1%	0.08%	0.08%
	FANG	D	0.08%	0.06%	0.06%
	FAST	C	0.1%	0.08%	0.08%
	FCX	D	0.15%	0.12%	0.12%
	FDS	C	0.04%	0.03%	0.03%
	FDX	C	0.16%	0.14%	0.14%
	FE	C	0.06%	0.05%	0.05%
	FFIV	B	0.03%	0.02%	0.02%
	FITB	B	0.07%	0.06%	0.06%
	FOXA	B	0.04%	0.02%	0.02%
	FSLR	C	0.05%	0.04%	0.04%
	FTV	C	0.06%	0.05%	0.05%
	GD	B	0.16%	0.15%	0.15%
	GE	B	0.44%	0.38%	0.38%
	GEHC	C	0.09%	0.08%	0.08%
	GEV	B	0.14%	0.12%	0.12%
	GIS	B	0.1%	0.09%	0.09%
	GLW	C	0.07%	0.07%	0.07%
	GM	C	0.11%	0.11%	0.11%
	GOOG	D	3.81%	1.58%	1.58%
	GPC	D	0.04%	0.04%	0.04%
	GPN	D	0.07%	0.06%	0.06%
	GRMN	D	0.07%	0.06%	0.06%
	GS	C	0.37%	0.31%	0.31%
	GWW	B	0.1%	0.09%	0.09%
	HAL	F	0.06%	0.05%	0.05%
	HBAN	B	0.05%	0.04%	0.04%
	HCA	B	0.18%	0.16%	0.16%
	HD	B	0.85%	0.77%	0.77%
	HES	F	0.09%	0.07%	0.07%
	HIG	B	0.08%	0.07%	0.07%
	HII	D	0.02%	0.02%	0.02%
	HOLX	B	0.05%	0.04%	0.04%
	HON	D	0.31%	0.27%	0.27%
	HPE	D	0.04%	0.04%	0.04%
	HPQ	D	0.07%	0.07%	0.07%
	HRL	C	0.02%	0.02%	0.02%
	HSIC	C	0.02%	0.02%	0.02%
	HST	C	0.03%	0.02%	0.02%
	HSY	C	0.07%	0.06%	0.06%
	HUBB	B	0.05%	0.04%	0.04%
	HUM	F	0.1%	0.09%	0.09%
	HWM	B	0.09%	0.08%	0.08%
	IBM	B	0.45%	0.39%	0.39%
	ICE	C	0.21%	0.19%	0.19%
	IDXX	C	0.09%	0.09%	0.09%
	IEX	D	0.04%	0.03%	0.03%
	IFF	B	0.06%	0.05%	0.05%
	INCY	C	0.03%	0.02%	0.02%
	INTC	F	0.19%	0.17%	0.17%
	INTU	C	0.41%	0.37%	0.37%
	INVH	C	0.05%	0.05%	0.05%
	IP	B	0.04%	0.03%	0.03%
	IPG	C	0.03%	0.02%	0.02%
	IQV	C	0.1%	0.09%	0.09%
	IR	C	0.09%	0.07%	0.07%
	IRM	C	0.07%	0.07%	0.07%
	ISRG	B	0.38%	0.36%	0.36%
	IT	B	0.09%	0.08%	0.08%
	ITW	C	0.16%	0.15%	0.15%
	J	C	0.04%	0.04%	0.04%
	JBHT	D	0.03%	0.03%	0.03%
	JBL	D	0.03%	0.03%	0.03%
	JCI	B	0.11%	0.1%	0.1%
	JKHY	B	0.03%	0.03%	0.03%
	JNJ	C	0.94%	0.84%	0.84%
	JNPR	B	0.03%	0.03%	0.03%
	JPM	D	1.48%	1.23%	1.23%
	K	B	0.05%	0.05%	0.05%
	KDP	B	0.09%	0.08%	0.08%
	KEY	B	0.04%	0.03%	0.03%
	KEYS	C	0.06%	0.05%	0.05%
	KHC	C	0.07%	0.07%	0.07%
	KIM	C	0.04%	0.03%	0.03%
	KLAC	D	0.21%	0.2%	0.2%
	KMB	D	0.11%	0.1%	0.1%
	KMI	B	0.09%	0.09%	0.09%
	KMX	D	0.03%	0.03%	0.03%
	KO	C	0.65%	0.61%	0.61%
	KR	C	0.09%	0.07%	0.07%
	KVUE	C	0.11%	0.09%	0.09%
	L	C	0.03%	0.03%	0.03%
	LDOS	B	0.05%	0.04%	0.04%
	LEN	B	0.11%	0.09%	0.09%
	LHX	C	0.1%	0.09%	0.09%
	LIN	B	0.53%	0.47%	0.47%
	LKQ	F	0.02%	0.02%	0.02%
	LLY	C	1.65%	1.52%	1.52%
	LMT	C	0.29%	0.26%	0.26%
	LNT	B	0.04%	0.03%	0.03%
	LOW	B	0.34%	0.29%	0.29%
	LRCX	F	0.21%	0.2%	0.2%
	LULU	D	0.07%	0.06%	0.06%
	LUV	C	0.04%	0.01%	0.01%
	LVS	D	0.03%	0.03%	0.03%
	LW	D	0.02%	0.02%	0.02%
	LYB	D	0.06%	0.05%	0.05%
	LYV	B	0.03%	0.03%	0.03%
	MA	B	0.96%	0.85%	0.85%
	MAA	B	0.04%	0.04%	0.04%
	MAR	C	0.13%	0.12%	0.12%
	MAS	B	0.04%	0.04%	0.04%
	MCHP	F	0.1%	0.08%	0.08%
	MCK	F	0.15%	0.14%	0.14%
	MCO	B	0.17%	0.17%	0.17%
	MDLZ	B	0.24%	0.21%	0.21%
	MDT	C	0.28%	0.24%	0.24%
	MET	B	0.11%	0.1%	0.1%
	META	B	2.49%	2.31%	2.31%
	MGM	F	0.02%	0.02%	0.02%
	MKC	C	0.05%	0.04%	0.04%
	MKTX	C	0.02%	0.02%	0.02%
	MLM	D	0.08%	0.07%	0.07%
	MMC	C	0.26%	0.24%	0.24%
	MNST	D	0.09%	0.08%	0.08%
	MO	C	0.22%	0.19%	0.19%
	MOH	D	0.05%	0.04%	0.04%
	MOS	F	0.02%	0.02%	0.02%
	MPC	F	0.15%	0.12%	0.12%
	MPWR	C	0.09%	0.09%	0.09%
	MRK	D	0.66%	0.61%	0.61%
	MRNA	F	0.05%	0.05%	0.05%
	MRO	C	0.04%	0.03%	0.03%
	MS	D	0.29%	0.25%	0.25%
	MSFT	C	7.0%	6.11%	6.11%
	MSI	B	0.17%	0.15%	0.15%
	MTB	B	0.07%	0.06%	0.06%
	MU	F	0.2%	0.2%	0.2%
	NDAQ	A	0.06%	0.06%	0.06%
	NDSN	C	0.03%	0.03%	0.03%
	NEE	C	0.44%	0.35%	0.35%
	NFLX	B	0.69%	0.61%	0.61%
	NI	B	0.03%	0.03%	0.03%
	NKE	D	0.23%	0.2%	0.2%
	NOC	B	0.18%	0.15%	0.15%
	NOW	B	0.39%	0.37%	0.37%
	NRG	C	0.04%	0.03%	0.03%
	NSC	C	0.14%	0.12%	0.12%
	NTAP	D	0.05%	0.05%	0.05%
	NTRS	A	0.04%	0.04%	0.04%
	NUE	F	0.09%	0.07%	0.07%
	NVDA	D	6.04%	5.55%	5.55%
	NVR	B	0.07%	0.06%	0.06%
	NWSA	D	0.03%	0.02%	0.02%
	NXPI	F	0.13%	0.12%	0.12%
	O	C	0.13%	0.11%	0.11%
	ODFL	D	0.08%	0.08%	0.08%
	OKE	B	0.12%	0.11%	0.11%
	OMC	B	0.05%	0.04%	0.04%
	ON	D	0.07%	0.06%	0.06%
	ORCL	C	0.5%	0.54%	0.5%
	OXY	F	0.08%	0.07%	0.07%
	PANW	D	0.24%	0.23%	0.23%
	PARA	F	0.01%	0.01%	0.01%
	PAYC	D	0.02%	0.02%	0.02%
	PAYX	C	0.1%	0.09%	0.09%
	PCAR	D	0.12%	0.1%	0.1%
	PCG	C	0.1%	0.08%	0.08%
	PEG	B	0.1%	0.08%	0.08%
	PEP	C	0.6%	0.51%	0.51%
	PFG	B	0.04%	0.04%	0.04%
	PG	C	0.95%	0.88%	0.88%
	PGR	B	0.36%	0.3%	0.3%
	PH	B	0.18%	0.16%	0.16%
	PHM	B	0.07%	0.06%	0.06%
	PKG	B	0.04%	0.04%	0.04%
	PLD	C	0.28%	0.26%	0.26%
	PNC	B	0.17%	0.15%	0.15%
	PNR	B	0.03%	0.03%	0.03%
	POOL	C	0.03%	0.03%	0.03%
	PPG	D	0.07%	0.06%	0.06%
	PPL	C	0.06%	0.05%	0.05%
	PRU	C	0.1%	0.09%	0.09%
	PSA	B	0.13%	0.12%	0.12%
	PSX	F	0.13%	0.11%	0.11%
	PTC	D	0.05%	0.04%	0.04%
	PWR	B	0.09%	0.08%	0.08%
	PYPL	B	0.18%	0.14%	0.14%
	QCOM	D	0.41%	0.38%	0.38%
	QRVO	F	0.02%	0.02%	0.02%
	RCL	B	0.09%	0.08%	0.08%
	REG	C	0.03%	0.03%	0.03%
	REGN	C	0.27%	0.26%	0.26%
	RF	B	0.05%	0.04%	0.04%
	RJF	C	0.05%	0.05%	0.05%
	ROK	D	0.07%	0.06%	0.06%
	ROL	C	0.03%	0.03%	0.03%
	ROP	C	0.13%	0.12%	0.12%
	ROST	C	0.12%	0.11%	0.11%
	RSG	D	0.1%	0.09%	0.09%
	RTX	C	0.38%	0.33%	0.33%
	SCHW	D	0.21%	0.2%	0.2%
	SHW	B	0.21%	0.19%	0.19%
	SJM	C	0.03%	0.03%	0.03%
	SLB	F	0.14%	0.12%	0.12%
	SMCI	F	0.05%	0.05%	0.05%
	SNA	C	0.03%	0.03%	0.03%
	SNPS	D	0.17%	0.15%	0.15%
	SO	B	0.23%	0.2%	0.2%
	SOLV	C	0.02%	0.02%	0.02%
	SPG	B	0.12%	0.11%	0.11%
	SPGI	B	0.38%	0.35%	0.35%
	SRE	C	0.12%	0.11%	0.11%
	STE	C	0.06%	0.05%	0.05%
	STLD	F	0.04%	0.03%	0.03%
	STT	A	0.06%	0.05%	0.05%
	STZ	D	0.09%	0.09%	0.09%
	SW	B	0.03%	0.05%	0.03%
	SWK	B	0.04%	0.03%	0.03%
	SWKS	D	0.03%	0.03%	0.03%
	SYF	C	0.04%	0.04%	0.04%
	SYK	C	0.29%	0.26%	0.26%
	SYY	D	0.09%	0.08%	0.08%
	T	C	0.37%	0.32%	0.32%
	TAP	D	0.02%	0.02%	0.02%
	TDY	B	0.05%	0.04%	0.04%
	TEL	D	0.11%	0.09%	0.09%
	TER	D	0.04%	0.04%	0.04%
	TFC	C	0.13%	0.12%	0.12%
	TFX	C	0.03%	0.02%	0.02%
	TGT	C	0.17%	0.14%	0.14%
	TJX	B	0.3%	0.28%	0.28%
	TMO	B	0.55%	0.5%	0.5%
	TMUS	C	0.25%	0.22%	0.22%
	TRGP	B	0.07%	0.06%	0.06%
	TRMB	C	0.03%	0.03%	0.03%
	TROW	D	0.05%	0.05%	0.05%
	TRV	C	0.13%	0.11%	0.11%
	TSCO	C	0.07%	0.06%	0.06%
	TSN	C	0.04%	0.04%	0.04%
	TT	B	0.19%	0.16%	0.16%
	TXN	C	0.41%	0.38%	0.38%
	TXT	D	0.04%	0.03%	0.03%
	TYL	C	0.06%	0.05%	0.05%
	UBER	C	0.29%	0.27%	0.27%
	UDR	C	0.03%	0.03%	0.03%
	UHS	B	0.03%	0.03%	0.03%
	ULTA	D	0.04%	0.04%	0.04%
	UNH	C	1.28%	1.15%	1.15%
	UNP	C	0.37%	0.32%	0.32%
	UPS	D	0.22%	0.2%	0.2%
	URI	B	0.12%	0.1%	0.1%
	USB	B	0.17%	0.15%	0.15%
	V	C	1.07%	0.94%	0.94%
	VICI	C	0.08%	0.07%	0.07%
	VLO	F	0.11%	0.09%	0.09%
	VLTO	C	0.06%	0.06%	0.06%
	VMC	D	0.08%	0.06%	0.06%
	VRSK	D	0.09%	0.08%	0.08%
	VRTX	D	0.28%	0.25%	0.25%
	VST	C	0.07%	0.06%	0.06%
	VTR	C	0.06%	0.05%	0.05%
	VTRS	D	0.03%	0.03%	0.03%
	VZ	B	0.45%	0.38%	0.38%
	WAB	B	0.07%	0.06%	0.06%
	WBA	F	0.02%	0.01%	0.01%
	WBD	D	0.04%	0.03%	0.03%
	WDC	D	0.05%	0.04%	0.04%
	WEC	C	0.07%	0.06%	0.06%
	WELL	C	0.17%	0.16%	0.16%
	WFC	D	0.45%	0.39%	0.39%
	WM	D	0.19%	0.17%	0.17%
	WMB	B	0.13%	0.11%	0.11%
	WMT	C	0.79%	0.73%	0.73%
	WRB	C	0.04%	0.04%	0.04%
	WST	D	0.05%	0.05%	0.05%
	WTW	C	0.07%	0.06%	0.06%
	WY	C	0.05%	0.05%	0.05%
	XEL	B	0.08%	0.07%	0.07%
	XOM	C	1.24%	1.04%	1.04%
	XYL	C	0.08%	0.07%	0.07%
	ZBH	F	0.06%	0.04%	0.04%
	ZBRA	B	0.04%	0.04%	0.04%
	ZTS	C	0.2%	0.18%	0.18%

QVML Overweight 14 Positions Relative to PBUS

	Symbol	Grade	Weight
	UAL	C	0.04%
	AAL	D	0.02%
	IVZ	B	0.02%
	NCLH	C	0.02%
	RL	C	0.02%
	BWA	D	0.02%
	CZR	C	0.02%
	FMC	C	0.02%
	MHK	C	0.02%
	GNRC	D	0.02%
	FRT	C	0.02%
	GL	C	0.02%
	TPR	C	0.02%
	PNW	C	0.02%

QVML Underweight 150 Positions Relative to PBUS

	Symbol	Grade	Weight
	GOOGL	D	-1.82%
	TSLA	C	-1.36%
	MCD	B	-0.44%
	PM	C	-0.41%
	AMGN	B	-0.37%
	PFE	C	-0.35%
	AMT	C	-0.24%
	SBUX	C	-0.22%
	BMY	C	-0.21%
	GILD	B	-0.21%
	BA	F	-0.2%
	MELI	B	-0.19%
	EQIX	C	-0.17%
	PLTR	B	-0.15%
	MMM	B	-0.15%
	TDG	B	-0.15%
	KKR	B	-0.15%
	ORLY	C	-0.14%
	AON	B	-0.14%
	APD	B	-0.13%
	MRVL	C	-0.13%
	CRWD	D	-0.12%
	NEM	B	-0.12%
	CCI	C	-0.11%
	HLT	B	-0.11%
	AZO	D	-0.11%
	WDAY	D	-0.11%
	FIS	B	-0.1%
	WCN	D	-0.1%
	FTNT	C	-0.1%
	LNG	C	-0.09%
	APO	C	-0.09%
	TTD	B	-0.09%
	MSCI	C	-0.09%
	FICO	B	-0.09%
	RMD	C	-0.08%
	OTIS	C	-0.08%
	YUM	D	-0.08%
	DASH	C	-0.08%
	FLUT	B	-0.08%
	ALNY	C	-0.07%
	SNOW	F	-0.07%
	VEEV	C	-0.07%
	SQ	D	-0.07%
	VRT	C	-0.06%
	DXCM	F	-0.06%
	AWK	B	-0.06%
	BIIB	F	-0.06%
	DELL	D	-0.06%
	COIN	F	-0.06%
	DDOG	D	-0.06%
	MTD	D	-0.06%
	NET	D	-0.05%
	HUBS	D	-0.05%
	TTWO	C	-0.05%
	TEAM	D	-0.05%
	SBAC	C	-0.05%
	ARES	B	-0.05%
	WSM	D	-0.04%
	BURL	B	-0.04%
	EME	B	-0.04%
	PINS	F	-0.04%
	SUI	B	-0.04%
	APP	C	-0.04%
	AVTR	B	-0.04%
	LII	B	-0.04%
	FCNCA	D	-0.04%
	CSL	B	-0.04%
	TRU	B	-0.04%
	WAT	C	-0.04%
	EL	F	-0.04%
	BAH	C	-0.04%
	ILMN	C	-0.04%
	MKL	C	-0.04%
	STX	C	-0.04%
	MSTR	D	-0.04%
	GDDY	C	-0.04%
	RBLX	B	-0.04%
	MDB	D	-0.04%
	DKS	D	-0.03%
	EQH	C	-0.03%
	ACM	B	-0.03%
	AMH	C	-0.03%
	ERIE	B	-0.03%
	TW	B	-0.03%
	ELS	C	-0.03%
	OC	D	-0.03%
	WPC	C	-0.03%
	GGG	C	-0.03%
	GLPI	C	-0.03%
	ZS	F	-0.03%
	ENPH	D	-0.03%
	DT	C	-0.03%
	PSTG	F	-0.03%
	UTHR	C	-0.03%
	HEI	B	-0.03%
	FNF	B	-0.03%
	RPM	B	-0.03%
	LPLA	D	-0.03%
	PODD	B	-0.03%
	RS	D	-0.03%
	WSO	C	-0.03%
	BMRN	F	-0.03%
	TPL	B	-0.03%
	MANH	B	-0.03%
	ENTG	F	-0.03%
	DKNG	C	-0.03%
	SSNC	B	-0.03%
	VRSN	D	-0.03%
	ZM	C	-0.03%
	CRBG	D	-0.02%
	SEIC	C	-0.02%
	DINO	F	-0.02%
	WYNN	D	-0.02%
	BSY	D	-0.02%
	CHK	D	-0.02%
	ROKU	C	-0.02%
	KNX	C	-0.02%
	CHRD	F	-0.02%
	TTC	D	-0.02%
	TOST	C	-0.02%
	Z	B	-0.02%
	CG	D	-0.02%
	ALLY	F	-0.02%
	CNH	D	-0.02%
	SNAP	F	-0.02%
	AFG	B	-0.02%
	IOT	B	-0.02%
	RIVN	F	-0.02%
	TWLO	D	-0.02%
	MTCH	C	-0.02%
	WTRG	D	-0.02%
	HOOD	C	-0.02%
	OVV	F	-0.02%
	RPRX	C	-0.02%
	CTLT	B	-0.02%
	EXAS	C	-0.02%
	CCK	A	-0.02%
	HEI	B	-0.02%
	DOCU	C	-0.02%
	OKTA	F	-0.02%
	TECH	C	-0.02%
	AES	C	-0.02%
	NBIX	F	-0.02%
	CELH	F	-0.01%
	FOX	B	-0.01%
	WLK	D	-0.01%
	H	C	-0.01%
	UHAL	A	-0.01%
	ACI	F	-0.01%

QVML: Top Represented Industries & Keywords

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

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

PBUS: Top Represented Industries & Keywords

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