QVMS vs. SAA ETF Comparison

Comparison of Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) to ProShares Ultra SmallCap600 (SAA)

QVMS

Invesco S&P SmallCap 600 QVM Multi-factor ETF

QVMS Description

The investment seeks to track the investment results of the S&P SmallCap 600 ® Quality, Value & Momentum Top 90% Multi- Factor Index (the “underlying index”). The fund 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, designed to track the performance of a subset of securities from the S&P SmallCap 600 ® 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

$27.06

Average Daily Volume

606

Number of Holdings ^*

514

* may have additional holdings in another (foreign) market

SAA

ProShares Ultra SmallCap600

SAA Description

The investment seeks daily investment results that correspond to two times (2x) the daily performance of the S&P SmallCap 600®. The fund invests in securities and derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as two times (2x) the daily return of the index. The index is a measure of small-cap company U.S. stock market performance. It is a float-adjusted, market capitalization-weighted index of 600 U.S. operating companies selected through a process that factors in criteria such as liquidity, price, market capitalization, financial viability and public float. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$26.47

Average Daily Volume

19,560

Number of Holdings ^*

576

* may have additional holdings in another (foreign) market

Performance

Period	QVMS	SAA
30 Days	1.81%	2.17%
60 Days	2.09%	1.44%
90 Days	10.45%	17.13%
12 Months	22.39%	31.40%

515 Overlapping Holdings

	Symbol	Grade	Weight in QVMS	Weight in SAA	Overlap
	AAP	F	0.22%	0.14%	0.14%
	AAT	B	0.11%	0.07%	0.07%
	ABCB	B	0.35%	0.22%	0.22%
	ABG	F	0.4%	0.25%	0.25%
	ABM	D	0.26%	0.18%	0.18%
	ABR	B	0.23%	0.15%	0.15%
	ACA	C	0.39%	0.25%	0.25%
	ACIW	B	0.47%	0.29%	0.29%
	ACLS	F	0.25%	0.19%	0.19%
	ADUS	B	0.18%	0.13%	0.13%
	AEIS	D	0.32%	0.21%	0.21%
	AEO	D	0.34%	0.21%	0.21%
	AGO	C	0.38%	0.23%	0.23%
	AGYS	D	0.19%	0.12%	0.12%
	AHCO	B	0.07%	0.05%	0.05%
	AHH	B	0.07%	0.05%	0.05%
	AIN	D	0.24%	0.15%	0.15%
	AIR	C	0.2%	0.13%	0.13%
	AKR	C	0.21%	0.14%	0.14%
	AL	D	0.4%	0.26%	0.26%
	ALEX	B	0.13%	0.08%	0.08%
	ALG	D	0.17%	0.11%	0.11%
	ALGT	F	0.05%	0.04%	0.04%
	ALK	C	0.45%	0.3%	0.3%
	ALKS	C	0.38%	0.26%	0.26%
	ALRM	F	0.25%	0.16%	0.16%
	AMBC	F	0.06%	0.03%	0.03%
	AMCX	F	0.02%	0.01%	0.01%
	AMN	F	0.15%	0.1%	0.1%
	AMPH	C	0.16%	0.1%	0.1%
	AMR	F	0.22%	0.14%	0.14%
	AMSF	C	0.08%	0.05%	0.05%
	AMWD	C	0.12%	0.08%	0.08%
	ANDE	D	0.13%	0.09%	0.09%
	ANIP	D	0.07%	0.05%	0.05%
	AOSL	D	0.07%	0.05%	0.05%
	APAM	C	0.26%	0.17%	0.17%
	APLE	D	0.27%	0.19%	0.19%
	APOG	B	0.13%	0.08%	0.08%
	ARCB	D	0.2%	0.14%	0.14%
	ARCH	F	0.22%	0.13%	0.13%
	ARI	F	0.12%	0.07%	0.07%
	ARLO	F	0.1%	0.07%	0.07%
	AROC	C	0.25%	0.17%	0.17%
	ASIX	C	0.06%	0.04%	0.04%
	ASO	C	0.4%	0.24%	0.24%
	ASTE	F	0.06%	0.04%	0.04%
	ASTH	B	0.19%	0.13%	0.13%
	ATEN	C	0.09%	0.05%	0.05%
	ATGE	D	0.25%	0.16%	0.16%
	ATI	C	0.74%	0.45%	0.45%
	AUB	C	0.3%	0.19%	0.19%
	AVA	B	0.28%	0.17%	0.17%
	AVAV	D	0.43%	0.3%	0.3%
	AVNS	B	0.1%	0.06%	0.06%
	AWI	B	0.49%	0.32%	0.32%
	AWR	B	0.28%	0.18%	0.18%
	AX	D	0.28%	0.18%	0.18%
	AXL	F	0.06%	0.04%	0.04%
	AZZ	C	0.21%	0.13%	0.13%
	B	D	0.16%	0.11%	0.11%
	BANF	B	0.14%	0.09%	0.09%
	BANR	B	0.17%	0.11%	0.11%
	BCC	C	0.45%	0.29%	0.29%
	BCPC	C	0.48%	0.32%	0.32%
	BDN	B	0.08%	0.05%	0.05%
	BFS	C	0.05%	0.03%	0.03%
	BGC	B	0.34%	0.21%	0.21%
	BGS	D	0.06%	0.04%	0.04%
	BHE	C	0.14%	0.09%	0.09%
	BHLB	C	0.1%	0.06%	0.06%
	BJRI	D	0.06%	0.04%	0.04%
	BKE	B	0.11%	0.07%	0.07%
	BKU	C	0.23%	0.15%	0.15%
	BL	D	0.23%	0.15%	0.15%
	BLFS	D	0.07%	0.05%	0.05%
	BLMN	F	0.14%	0.08%	0.08%
	BMI	B	0.54%	0.35%	0.35%
	BOH	C	0.23%	0.15%	0.15%
	BOOT	B	0.37%	0.27%	0.27%
	BRC	B	0.3%	0.19%	0.19%
	BRKL	C	0.08%	0.05%	0.05%
	BTU	D	0.22%	0.13%	0.13%
	BXMT	C	0.29%	0.19%	0.19%
	CABO	F	0.14%	0.09%	0.09%
	CAKE	C	0.15%	0.1%	0.1%
	CAL	F	0.11%	0.06%	0.06%
	CALM	B	0.26%	0.16%	0.16%
	CARG	B	0.19%	0.13%	0.13%
	CARS	D	0.09%	0.06%	0.06%
	CASH	B	0.14%	0.1%	0.1%
	CATY	B	0.27%	0.18%	0.18%
	CBRL	D	0.07%	0.05%	0.05%
	CBU	C	0.28%	0.17%	0.17%
	CCOI	C	0.29%	0.18%	0.18%
	CCRN	F	0.04%	0.03%	0.03%
	CCS	B	0.25%	0.16%	0.16%
	CEIX	D	0.23%	0.14%	0.14%
	CENTA	D	0.2%	0.1%	0.1%
	CENX	D	0.07%	0.04%	0.04%
	CERT	F	0.11%	0.07%	0.07%
	CEVA	C	0.05%	0.03%	0.03%
	CFFN	C	0.06%	0.04%	0.04%
	CHCO	B	0.15%	0.1%	0.1%
	CHCT	F	0.03%	0.02%	0.02%
	CHEF	C	0.12%	0.08%	0.08%
	CHUY	B	0.06%	0.04%	0.04%
	CLB	D	0.07%	0.05%	0.05%
	CLW	F	0.04%	0.03%	0.03%
	CNK	B	0.26%	0.18%	0.18%
	CNMD	D	0.21%	0.14%	0.14%
	CNS	B	0.2%	0.14%	0.14%
	CNXN	B	0.07%	0.05%	0.05%
	COHU	F	0.1%	0.07%	0.07%
	COLL	B	0.11%	0.07%	0.07%
	COOP	B	0.51%	0.34%	0.34%
	CORT	B	0.27%	0.19%	0.19%
	CPF	B	0.06%	0.04%	0.04%
	CPK	B	0.25%	0.16%	0.16%
	CPRX	B	0.21%	0.13%	0.13%
	CRC	C	0.27%	0.18%	0.18%
	CRK	D	0.08%	0.05%	0.05%
	CRS	B	0.63%	0.4%	0.4%
	CRSR	F	0.02%	0.01%	0.01%
	CRVL	B	0.24%	0.16%	0.16%
	CSGS	C	0.12%	0.08%	0.08%
	CSR	B	0.1%	0.06%	0.06%
	CTRE	B	0.36%	0.25%	0.25%
	CTS	D	0.13%	0.08%	0.08%
	CUBI	F	0.12%	0.08%	0.08%
	CVBF	C	0.2%	0.13%	0.13%
	CVCO	B	0.28%	0.19%	0.19%
	CVGW	C	0.05%	0.03%	0.03%
	CVI	F	0.06%	0.04%	0.04%
	CWEN	B	0.3%	0.05%	0.05%
	CWEN	B	0.3%	0.14%	0.14%
	CWK	B	0.23%	0.15%	0.15%
	CWT	C	0.29%	0.18%	0.18%
	CXM	F	0.1%	0.05%	0.05%
	CXW	F	0.18%	0.08%	0.08%
	DAN	F	0.11%	0.07%	0.07%
	DBI	F	0.03%	0.01%	0.01%
	DCOM	B	0.07%	0.05%	0.05%
	DEA	B	0.11%	0.08%	0.08%
	DEI	B	0.25%	0.16%	0.16%
	DFIN	B	0.15%	0.1%	0.1%
	DGII	D	0.09%	0.06%	0.06%
	DIOD	F	0.25%	0.16%	0.16%
	DLX	D	0.07%	0.05%	0.05%
	DNOW	D	0.12%	0.07%	0.07%
	DORM	B	0.28%	0.18%	0.18%
	DRH	C	0.16%	0.1%	0.1%
	DV	F	0.22%	0.14%	0.14%
	DVAX	D	0.12%	0.08%	0.08%
	DXC	C	0.28%	0.22%	0.22%
	DXPE	C	0.06%	0.04%	0.04%
	DY	B	0.48%	0.31%	0.31%
	EAT	B	0.29%	0.18%	0.18%
	EFC	B	0.09%	0.07%	0.07%
	EGBN	C	0.06%	0.04%	0.04%
	EIG	B	0.11%	0.07%	0.07%
	ENR	F	0.17%	0.11%	0.11%
	ENSG	C	0.76%	0.5%	0.5%
	ENV	C	0.3%	0.18%	0.18%
	ENVA	C	0.2%	0.12%	0.12%
	EPAC	B	0.2%	0.13%	0.13%
	EPC	F	0.16%	0.11%	0.11%
	EPRT	A	0.44%	0.33%	0.33%
	ESE	B	0.27%	0.18%	0.18%
	ETH	D	0.06%	0.04%	0.04%
	EVTC	D	0.2%	0.12%	0.12%
	EXPI	C	0.08%	0.06%	0.06%
	EYE	F	0.08%	0.05%	0.05%
	EZPW	D	0.05%	0.03%	0.03%
	FBK	B	0.14%	0.09%	0.09%
	FBNC	B	0.16%	0.1%	0.1%
	FBP	C	0.3%	0.19%	0.19%
	FCF	C	0.15%	0.1%	0.1%
	FCPT	A	0.24%	0.16%	0.16%
	FDP	B	0.09%	0.06%	0.06%
	FELE	C	0.34%	0.22%	0.22%
	FFBC	C	0.22%	0.14%	0.14%
	FHB	C	0.26%	0.17%	0.17%
	FIZZ	D	0.09%	0.06%	0.06%
	FL	D	0.19%	0.12%	0.12%
	FLGT	D	0.04%	0.03%	0.03%
	FN	D	0.71%	0.47%	0.47%
	FORM	F	0.29%	0.19%	0.19%
	FSS	D	0.49%	0.31%	0.31%
	FTDR	B	0.34%	0.22%	0.22%
	FTRE	F	0.17%	0.11%	0.11%
	FUL	D	0.39%	0.25%	0.25%
	FULT	C	0.29%	0.18%	0.18%
	FWRD	C	0.07%	0.06%	0.06%
	GBX	C	0.14%	0.08%	0.08%
	GDEN	D	0.06%	0.04%	0.04%
	GDOT	C	0.04%	0.03%	0.03%
	GEO	F	0.16%	0.1%	0.1%
	GES	F	0.05%	0.03%	0.03%
	GFF	C	0.22%	0.14%	0.14%
	GIII	C	0.13%	0.07%	0.07%
	GKOS	D	0.55%	0.37%	0.37%
	GMS	C	0.3%	0.2%	0.2%
	GNW	B	0.27%	0.17%	0.17%
	GPI	B	0.41%	0.26%	0.26%
	GPRE	F	0.07%	0.05%	0.05%
	GRBK	B	0.16%	0.11%	0.11%
	GSHD	B	0.2%	0.13%	0.13%
	GTY	B	0.14%	0.09%	0.09%
	GVA	B	0.29%	0.19%	0.19%
	HAFC	C	0.05%	0.03%	0.03%
	HAIN	D	0.07%	0.04%	0.04%
	HASI	B	0.35%	0.23%	0.23%
	HAYN	D	0.07%	0.04%	0.04%
	HAYW	C	0.17%	0.1%	0.1%
	HBI	B	0.2%	0.13%	0.13%
	HCC	F	0.26%	0.16%	0.16%
	HCI	C	0.06%	0.04%	0.04%
	HCSG	C	0.07%	0.05%	0.05%
	HFWA	C	0.07%	0.04%	0.04%
	HI	F	0.18%	0.11%	0.11%
	HIW	B	0.31%	0.2%	0.2%
	HLIT	C	0.15%	0.09%	0.09%
	HLX	D	0.12%	0.08%	0.08%
	HMN	C	0.12%	0.08%	0.08%
	HNI	B	0.22%	0.14%	0.14%
	HOPE	B	0.13%	0.08%	0.08%
	HP	D	0.3%	0.18%	0.18%
	HPP	D	0.06%	0.04%	0.04%
	HRMY	B	0.11%	0.07%	0.07%
	HSII	C	0.06%	0.04%	0.04%
	HSTM	C	0.06%	0.04%	0.04%
	HTH	C	0.13%	0.09%	0.09%
	HTLD	D	0.05%	0.03%	0.03%
	HUBG	C	0.25%	0.16%	0.16%
	HVT	D	0.03%	0.02%	0.02%
	HWKN	B	0.19%	0.13%	0.13%
	HZO	C	0.05%	0.04%	0.04%
	IAC	C	0.32%	0.21%	0.21%
	IBP	C	0.42%	0.29%	0.29%
	IBTX	B	0.19%	0.12%	0.12%
	ICHR	F	0.07%	0.05%	0.05%
	ICUI	B	0.28%	0.21%	0.21%
	IDCC	B	0.29%	0.2%	0.2%
	IIIN	D	0.06%	0.03%	0.03%
	IIPR	B	0.32%	0.21%	0.21%
	INDB	C	0.24%	0.15%	0.15%
	INN	C	0.06%	0.04%	0.04%
	INVA	B	0.1%	0.06%	0.06%
	IOSP	D	0.25%	0.16%	0.16%
	IPAR	D	0.19%	0.12%	0.12%
	ITGR	B	0.38%	0.25%	0.25%
	ITRI	C	0.4%	0.27%	0.27%
	JBGS	B	0.13%	0.09%	0.09%
	JBLU	D	0.17%	0.12%	0.12%
	JBSS	D	0.08%	0.05%	0.05%
	JBT	D	0.24%	0.16%	0.16%
	JJSF	C	0.22%	0.15%	0.15%
	JOE	C	0.19%	0.12%	0.12%
	JXN	B	0.52%	0.33%	0.33%
	KALU	F	0.1%	0.06%	0.06%
	KAR	D	0.16%	0.1%	0.1%
	KELYA	D	0.06%	0.04%	0.04%
	KFY	B	0.34%	0.21%	0.21%
	KLG	C	0.11%	0.07%	0.07%
	KLIC	D	0.2%	0.13%	0.13%
	KMT	B	0.18%	0.11%	0.11%
	KN	D	0.13%	0.09%	0.09%
	KOP	F	0.07%	0.05%	0.05%
	KREF	B	0.06%	0.04%	0.04%
	KSS	F	0.19%	0.13%	0.13%
	KTB	B	0.34%	0.21%	0.21%
	KWR	D	0.2%	0.13%	0.13%
	LBRT	D	0.28%	0.17%	0.17%
	LCII	C	0.27%	0.17%	0.17%
	LGIH	C	0.19%	0.13%	0.13%
	LGND	C	0.16%	0.1%	0.1%
	LKFN	C	0.14%	0.1%	0.1%
	LMAT	B	0.16%	0.1%	0.1%
	LNC	D	0.46%	0.29%	0.29%
	LNN	C	0.11%	0.08%	0.08%
	LPG	F	0.12%	0.07%	0.07%
	LQDT	B	0.04%	0.03%	0.03%
	LRN	B	0.28%	0.19%	0.19%
	LTC	B	0.14%	0.09%	0.09%
	LUMN	C	0.52%	0.36%	0.36%
	LXP	B	0.25%	0.17%	0.17%
	LZB	C	0.16%	0.1%	0.1%
	MAC	B	0.32%	0.2%	0.2%
	MARA	F	0.3%	0.25%	0.25%
	MATV	B	0.08%	0.06%	0.06%
	MATW	F	0.07%	0.04%	0.04%
	MATX	C	0.42%	0.26%	0.26%
	MC	B	0.4%	0.26%	0.26%
	MCRI	B	0.09%	0.06%	0.06%
	MCW	F	0.05%	0.03%	0.03%
	MCY	C	0.15%	0.09%	0.09%
	MD	C	0.08%	0.05%	0.05%
	MERC	F	0.03%	0.02%	0.02%
	MGEE	B	0.3%	0.19%	0.19%
	MGPI	C	0.12%	0.08%	0.08%
	MGY	C	0.41%	0.25%	0.25%
	MHO	B	0.38%	0.26%	0.26%
	MLAB	C	0.05%	0.04%	0.04%
	MLI	B	0.72%	0.45%	0.45%
	MLKN	D	0.18%	0.11%	0.11%
	MMI	C	0.08%	0.05%	0.05%
	MMSI	B	0.49%	0.33%	0.33%
	MNRO	D	0.06%	0.04%	0.04%
	MODG	F	0.12%	0.08%	0.08%
	MOG.A	B	0.49%	0.32%	0.32%
	MOV	F	0.03%	0.02%	0.02%
	MPW	C	0.29%	0.2%	0.2%
	MRCY	C	0.17%	0.11%	0.11%
	MRTN	D	0.09%	0.06%	0.06%
	MTH	B	0.65%	0.42%	0.42%
	MTRN	D	0.2%	0.12%	0.12%
	MTUS	F	0.05%	0.03%	0.03%
	MTX	D	0.21%	0.13%	0.13%
	MXL	F	0.09%	0.06%	0.06%
	MYE	D	0.05%	0.03%	0.03%
	MYGN	B	0.2%	0.14%	0.14%
	MYRG	F	0.15%	0.09%	0.09%
	NABL	D	0.07%	0.05%	0.05%
	NAVI	C	0.11%	0.07%	0.07%
	NBHC	C	0.14%	0.09%	0.09%
	NBR	F	0.06%	0.03%	0.03%
	NBTB	D	0.19%	0.12%	0.12%
	NEO	C	0.18%	0.12%	0.12%
	NHC	D	0.15%	0.1%	0.1%
	NMIH	B	0.29%	0.19%	0.19%
	NOG	D	0.3%	0.18%	0.18%
	NPK	C	0.03%	0.02%	0.02%
	NPO	C	0.28%	0.18%	0.18%
	NSIT	C	0.49%	0.33%	0.33%
	NTCT	D	0.13%	0.08%	0.08%
	NUS	F	0.03%	0.02%	0.02%
	NVEE	F	0.1%	0.07%	0.07%
	NVRI	D	0.07%	0.04%	0.04%
	NWBI	C	0.15%	0.1%	0.1%
	NWL	D	0.26%	0.17%	0.17%
	NWN	B	0.13%	0.09%	0.09%
	NX	D	0.09%	0.07%	0.07%
	NXRT	B	0.09%	0.06%	0.06%
	ODP	F	0.08%	0.05%	0.05%
	OFG	C	0.18%	0.12%	0.12%
	OGN	D	0.47%	0.3%	0.3%
	OI	D	0.18%	0.11%	0.11%
	OII	D	0.22%	0.14%	0.14%
	OMCL	C	0.2%	0.12%	0.12%
	OMI	D	0.1%	0.06%	0.06%
	OSIS	C	0.2%	0.13%	0.13%
	OTTR	D	0.29%	0.19%	0.19%
	OXM	D	0.12%	0.07%	0.07%
	PAHC	B	0.04%	0.03%	0.03%
	PARR	F	0.1%	0.06%	0.06%
	PATK	B	0.26%	0.16%	0.16%
	PBH	B	0.31%	0.21%	0.21%
	PCRX	F	0.06%	0.04%	0.04%
	PDCO	F	0.17%	0.1%	0.1%
	PEB	D	0.14%	0.09%	0.09%
	PECO	B	0.41%	0.27%	0.27%
	PFBC	C	0.09%	0.06%	0.06%
	PFS	B	0.22%	0.14%	0.14%
	PHIN	B	0.2%	0.12%	0.12%
	PINC	C	0.21%	0.12%	0.12%
	PIPR	B	0.36%	0.24%	0.24%
	PJT	B	0.24%	0.16%	0.16%
	PLAB	F	0.13%	0.08%	0.08%
	PLAY	F	0.09%	0.06%	0.06%
	PLMR	B	0.2%	0.14%	0.14%
	PLUS	B	0.21%	0.14%	0.14%
	PLXS	B	0.33%	0.2%	0.2%
	PMT	B	0.11%	0.07%	0.07%
	POWL	C	0.14%	0.09%	0.09%
	PPBI	D	0.21%	0.13%	0.13%
	PRA	C	0.06%	0.04%	0.04%
	PRAA	D	0.07%	0.05%	0.05%
	PRDO	D	0.13%	0.08%	0.08%
	PRFT	A	0.24%	0.16%	0.16%
	PRG	B	0.19%	0.11%	0.11%
	PRGS	C	0.23%	0.14%	0.14%
	PRK	C	0.21%	0.14%	0.14%
	PRLB	D	0.07%	0.04%	0.04%
	PRVA	D	0.17%	0.11%	0.11%
	PSMT	B	0.2%	0.13%	0.13%
	PTEN	F	0.24%	0.14%	0.14%
	PUMP	F	0.06%	0.03%	0.03%
	QNST	B	0.09%	0.06%	0.06%
	RAMP	F	0.15%	0.1%	0.1%
	RC	D	0.11%	0.07%	0.07%
	RCUS	D	0.08%	0.06%	0.06%
	RDN	B	0.47%	0.3%	0.3%
	RDNT	B	0.35%	0.26%	0.26%
	RES	D	0.05%	0.03%	0.03%
	REX	D	0.06%	0.04%	0.04%
	REZI	D	0.25%	0.16%	0.16%
	RGNX	D	0.05%	0.03%	0.03%
	RGR	F	0.07%	0.04%	0.04%
	RNST	D	0.17%	0.12%	0.12%
	ROCK	D	0.19%	0.12%	0.12%
	ROG	D	0.15%	0.1%	0.1%
	ROIC	B	0.17%	0.12%	0.12%
	RUSHA	C	0.27%	0.18%	0.18%
	RWT	B	0.08%	0.06%	0.06%
	RXO	D	0.26%	0.18%	0.18%
	SAFT	C	0.11%	0.07%	0.07%
	SAH	D	0.07%	0.05%	0.05%
	SANM	D	0.33%	0.21%	0.21%
	SATS	B	0.24%	0.16%	0.16%
	SBCF	C	0.2%	0.13%	0.13%
	SBH	B	0.12%	0.08%	0.08%
	SBSI	B	0.08%	0.05%	0.05%
	SCHL	D	0.07%	0.05%	0.05%
	SCL	D	0.14%	0.09%	0.09%
	SCSC	D	0.1%	0.07%	0.07%
	SCVL	B	0.06%	0.04%	0.04%
	SEM	D	0.33%	0.22%	0.22%
	SFBS	B	0.34%	0.22%	0.22%
	SFNC	B	0.24%	0.15%	0.15%
	SGH	F	0.08%	0.06%	0.06%
	SHAK	C	0.34%	0.22%	0.22%
	SHEN	F	0.07%	0.04%	0.04%
	SHO	D	0.18%	0.12%	0.12%
	SHOO	B	0.28%	0.18%	0.18%
	SIG	C	0.31%	0.23%	0.23%
	SITM	B	0.21%	0.15%	0.15%
	SJW	C	0.16%	0.1%	0.1%
	SKT	B	0.3%	0.2%	0.2%
	SKYW	C	0.26%	0.18%	0.18%
	SLG	B	0.37%	0.26%	0.26%
	SLP	F	0.05%	0.03%	0.03%
	SLVM	B	0.24%	0.15%	0.15%
	SM	D	0.42%	0.26%	0.26%
	SMP	C	0.06%	0.04%	0.04%
	SMPL	D	0.29%	0.18%	0.18%
	SNCY	D	0.04%	0.02%	0.02%
	SNEX	C	0.2%	0.12%	0.12%
	SONO	F	0.12%	0.08%	0.08%
	SPNT	C	0.12%	0.07%	0.07%
	SPSC	D	0.62%	0.41%	0.41%
	SPTN	C	0.06%	0.04%	0.04%
	SSTK	F	0.07%	0.05%	0.05%
	STAA	F	0.14%	0.09%	0.09%
	STBA	B	0.14%	0.09%	0.09%
	STC	B	0.18%	0.12%	0.12%
	STRA	D	0.18%	0.12%	0.12%
	SUPN	C	0.15%	0.1%	0.1%
	SVC	F	0.07%	0.04%	0.04%
	SXC	F	0.06%	0.04%	0.04%
	SXI	C	0.18%	0.12%	0.12%
	SXT	C	0.28%	0.18%	0.18%
	TALO	F	0.15%	0.1%	0.1%
	TBBK	B	0.23%	0.14%	0.14%
	TDS	C	0.2%	0.13%	0.13%
	THRM	D	0.14%	0.09%	0.09%
	THRY	D	0.05%	0.03%	0.03%
	THS	C	0.19%	0.12%	0.12%
	TILE	B	0.1%	0.06%	0.06%
	TMP	C	0.06%	0.04%	0.04%
	TNC	D	0.16%	0.1%	0.1%
	TPH	C	0.37%	0.24%	0.24%
	TR	C	0.05%	0.03%	0.03%
	TRIP	F	0.13%	0.08%	0.08%
	TRMK	C	0.18%	0.11%	0.11%
	TRN	C	0.24%	0.15%	0.15%
	TRST	C	0.06%	0.04%	0.04%
	TRUP	C	0.15%	0.09%	0.09%
	TTMI	D	0.16%	0.11%	0.11%
	TWI	D	0.04%	0.02%	0.02%
	UCBI	B	0.31%	0.2%	0.2%
	UCTT	F	0.13%	0.09%	0.09%
	UE	B	0.22%	0.15%	0.15%
	UFCS	D	0.04%	0.02%	0.02%
	UFPT	C	0.19%	0.13%	0.13%
	UHT	B	0.05%	0.03%	0.03%
	UNF	B	0.25%	0.16%	0.16%
	UNFI	C	0.07%	0.05%	0.05%
	URBN	D	0.17%	0.12%	0.12%
	USNA	F	0.04%	0.02%	0.02%
	USPH	D	0.12%	0.07%	0.07%
	UTL	B	0.09%	0.06%	0.06%
	UVV	D	0.11%	0.07%	0.07%
	VBTX	B	0.12%	0.08%	0.08%
	VCEL	D	0.2%	0.13%	0.13%
	VECO	F	0.14%	0.1%	0.1%
	VIAV	D	0.17%	0.11%	0.11%
	VICR	F	0.07%	0.05%	0.05%
	VREX	F	0.04%	0.03%	0.03%
	VRRM	D	0.41%	0.26%	0.26%
	VRTS	D	0.12%	0.08%	0.08%
	VSAT	F	0.12%	0.07%	0.07%
	VSCO	C	0.19%	0.1%	0.1%
	VSTO	B	0.2%	0.14%	0.14%
	VSTS	D	0.18%	0.11%	0.11%
	VTOL	D	0.08%	0.05%	0.05%
	VVI	C	0.06%	0.04%	0.04%
	WABC	D	0.12%	0.08%	0.08%
	WAFD	B	0.22%	0.14%	0.14%
	WD	B	0.31%	0.21%	0.21%
	WDFC	B	0.31%	0.2%	0.2%
	WGO	D	0.16%	0.09%	0.09%
	WNC	F	0.08%	0.05%	0.05%
	WOR	F	0.13%	0.08%	0.08%
	WRLD	D	0.03%	0.02%	0.02%
	WS	C	0.09%	0.06%	0.06%
	WSFS	C	0.27%	0.18%	0.18%
	WSR	D	0.05%	0.04%	0.04%
	WWW	B	0.1%	0.06%	0.06%
	XHR	C	0.12%	0.08%	0.08%
	XNCR	C	0.12%	0.08%	0.08%
	XPEL	D	0.08%	0.05%	0.05%
	XRX	F	0.1%	0.07%	0.07%
	YELP	F	0.2%	0.13%	0.13%
	ZEUS	F	0.04%	0.02%	0.02%

QVMS Overweight 0 Positions Relative to SAA

	Symbol	Grade	Weight

QVMS Underweight 61 Positions Relative to SAA

	Symbol	Grade	Weight
	CMA	B	-0.44%
	RHI	D	-0.37%
	VFC	C	-0.33%
	BOX	B	-0.28%
	SEE	D	-0.28%
	KRYS	D	-0.28%
	RUN	C	-0.24%
	WHD	C	-0.21%
	MSGS	B	-0.2%
	TDW	F	-0.2%
	GTES	C	-0.2%
	TNDM	C	-0.17%
	PTGX	C	-0.16%
	STEP	B	-0.16%
	PENN	D	-0.16%
	VIRT	B	-0.16%
	SMTC	C	-0.15%
	NARI	F	-0.14%
	OUT	B	-0.14%
	DOCN	B	-0.13%
	WERN	D	-0.13%
	VGR	C	-0.12%
	CALX	D	-0.12%
	NATL	D	-0.11%
	EXTR	C	-0.11%
	BANC	B	-0.11%
	GNL	B	-0.1%
	FOXF	F	-0.09%
	LEG	D	-0.09%
	PZZA	D	-0.09%
	GO	F	-0.09%
	MSEX	C	-0.07%
	SDGR	F	-0.07%
	SABR	D	-0.07%
	NGVT	F	-0.07%
	IART	F	-0.07%
	UNIT	C	-0.07%
	KW	C	-0.07%
	SNDR	B	-0.06%
	PBI	C	-0.06%
	SEDG	F	-0.06%
	TGI	D	-0.06%
	ECPG	C	-0.06%
	JACK	F	-0.05%
	PDFS	D	-0.05%
	EMBC	C	-0.05%
	TTGT	F	-0.04%
	IRWD	F	-0.04%
	SWI	B	-0.04%
	VIR	F	-0.04%
	BSIG	B	-0.04%
	DIN	F	-0.03%
	CTKB	F	-0.03%
	GOGO	F	-0.03%
	LESL	F	-0.03%
	CMP	D	-0.02%
	DDD	F	-0.02%
	CNSL	A	-0.02%
	CENT	D	-0.02%
	HTZ	D	-0.02%
	RILY	F	-0.01%

QVMS: Top Represented Industries & Keywords

Industries: Banks - Regional - US REIT - Diversified Biotechnology Packaged Foods Diversified Industrials REIT - Retail Specialty Chemicals Insurance - Property & Casualty Software - Application Auto Parts Oil & Gas Equipment & Services REIT - Hotel & Motel Restaurants Specialty Retail Apparel Stores Building Materials Electronic Components Medical Instruments & Supplies Oil & Gas E&P Semiconductor Equipment & Materials

Keywords: Bank Banking Real Estate Investment Trust Deposit Products Real Estate Loans Computing Medicine Clothing Aerospace Chemical Insurance Retail Store Semiconductor Commercial Bank Commercial Banking Mining Mortgage Loan Fashion Transport Construction

SAA: Top Represented Industries & Keywords

Industries: Banks - Regional - US Biotechnology REIT - Diversified Packaged Foods Diversified Industrials Restaurants Software - Application Specialty Chemicals Asset Management Oil & Gas Equipment & Services REIT - Retail Insurance - Property & Casualty Auto Parts Communication Equipment Drug Manufacturers - Specialty & Generic REIT - Hotel & Motel Software - Infrastructure Specialty Retail Telecom Services Apparel Stores

Keywords: Bank Banking Real Estate Investment Trust Deposit Products Medicine Computing Chemical Real Estate Loans Aerospace Clothing Commercial Bank Insurance Semiconductor Retail Store Transport Commercial Banking Mining Mortgage Loan Fashion Investment Management