QVMS vs. XJR ETF Comparison

Comparison of Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) to iShares ESG Screened S&P Small-Cap ETF (XJR)

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

$29.19

Average Daily Volume

478

Number of Holdings ^*

523

* may have additional holdings in another (foreign) market

XJR

iShares ESG Screened S&P Small-Cap ETF

XJR Description

The investment seeks to track the investment results of an index composed of small-capitalization U.S. equities while applying screens for company involvement in controversies and controversial business activities. The fund seeks to track the investment results of the S&P SmallCap 600 Sustainability Screened Index, which measures the performance of the small-capitalization sector of the U.S. equity market while excluding companies involved in controversial business activities and controversies, as determined by S&P Dow Jones Indices LLC. BFA uses a representative sampling indexing strategy to manage the fund. It is non-diversified.

Grade (RS Rating)

Last Trade

$44.36

Average Daily Volume

6,543

Number of Holdings ^*

541

* may have additional holdings in another (foreign) market

Performance

Period	QVMS	XJR
30 Days	7.25%	7.14%
60 Days	9.85%	8.54%
90 Days	13.87%	12.99%
12 Months	38.18%	37.75%

488 Overlapping Holdings

	Symbol	Grade	Weight in QVMS	Weight in XJR	Overlap
	AAP	D	0.2%	0.19%	0.19%
	AAT	C	0.11%	0.11%	0.11%
	ABCB	B	0.35%	0.34%	0.34%
	ABG	B	0.44%	0.4%	0.4%
	ABM	B	0.31%	0.29%	0.29%
	ABR	B	0.22%	0.0%	0.0%
	ACA	B	0.4%	0.4%	0.4%
	ACIW	B	0.5%	0.45%	0.45%
	ACLS	F	0.23%	0.23%	0.23%
	ADUS	D	0.17%	0.19%	0.17%
	AEIS	B	0.36%	0.35%	0.35%
	AEO	F	0.28%	0.28%	0.28%
	AGO	B	0.35%	0.34%	0.34%
	AGYS	B	0.2%	0.19%	0.19%
	AHCO	C	0.06%	0.08%	0.06%
	AHH	D	0.06%	0.06%	0.06%
	AIR	C	0.16%	0.18%	0.16%
	AKR	C	0.19%	0.22%	0.19%
	AL	B	0.4%	0.39%	0.39%
	ALEX	B	0.11%	0.12%	0.11%
	ALG	B	0.16%	0.16%	0.16%
	ALGT	B	0.08%	0.08%	0.08%
	ALK	A	0.44%	0.51%	0.44%
	ALKS	B	0.39%	0.39%	0.39%
	ALRM	C	0.24%	0.23%	0.23%
	AMBC	C	0.04%	0.04%	0.04%
	AMN	F	0.14%	0.13%	0.13%
	AMSF	A	0.09%	0.09%	0.09%
	AMWD	B	0.13%	0.12%	0.12%
	ANDE	D	0.13%	0.12%	0.12%
	ANIP	C	0.08%	0.08%	0.08%
	AORT	C	0.09%	0.09%	0.09%
	AOSL	F	0.06%	0.05%	0.05%
	APAM	B	0.26%	0.0%	0.0%
	APLE	B	0.27%	0.28%	0.27%
	APOG	B	0.15%	0.15%	0.15%
	ARCB	C	0.21%	0.21%	0.21%
	ARI	D	0.09%	0.09%	0.09%
	ARLO	D	0.09%	0.09%	0.09%
	AROC	B	0.27%	0.29%	0.27%
	ASIX	B	0.07%	0.07%	0.07%
	ASTE	B	0.07%	0.06%	0.06%
	ASTH	F	0.18%	0.19%	0.18%
	ATEN	A	0.08%	0.09%	0.08%
	ATGE	B	0.27%	0.26%	0.26%
	ATI	D	0.55%	0.56%	0.55%
	AUB	B	0.3%	0.0%	0.0%
	AVAV	C	0.52%	0.51%	0.51%
	AVNS	D	0.07%	0.08%	0.07%
	AWI	A	0.51%	0.54%	0.51%
	AWR	B	0.24%	0.26%	0.24%
	AX	B	0.34%	0.0%	0.0%
	AXL	C	0.06%	0.06%	0.06%
	AZZ	B	0.21%	0.2%	0.2%
	B	B	0.2%	0.18%	0.18%
	BANF	B	0.13%	0.18%	0.13%
	BANR	B	0.19%	0.0%	0.0%
	BCC	B	0.46%	0.45%	0.45%
	BCPC	B	0.46%	0.47%	0.46%
	BDN	D	0.07%	0.08%	0.07%
	BFH	B	0.28%	0.1%	0.1%
	BFS	B	0.04%	0.04%	0.04%
	BGC	B	0.35%	0.28%	0.28%
	BGS	F	0.04%	0.06%	0.04%
	BHE	B	0.14%	0.14%	0.14%
	BHLB	B	0.1%	0.0%	0.0%
	BJRI	B	0.07%	0.07%	0.07%
	BKE	A	0.1%	0.11%	0.1%
	BKU	B	0.24%	0.0%	0.0%
	BL	B	0.23%	0.24%	0.23%
	BLFS	B	0.08%	0.08%	0.08%
	BLMN	F	0.12%	0.1%	0.1%
	BMI	B	0.5%	0.51%	0.5%
	BOH	B	0.24%	0.0%	0.0%
	BOOT	D	0.27%	0.33%	0.27%
	BRC	B	0.26%	0.26%	0.26%
	BRKL	A	0.08%	0.08%	0.08%
	BXMT	C	0.25%	0.27%	0.25%
	CABO	C	0.15%	0.14%	0.14%
	CAKE	B	0.18%	0.18%	0.18%
	CAL	D	0.08%	0.09%	0.08%
	CALM	A	0.28%	0.3%	0.28%
	CALX	F	0.16%	0.18%	0.16%
	CARG	A	0.21%	0.23%	0.21%
	CARS	B	0.08%	0.08%	0.08%
	CASH	A	0.16%	0.0%	0.0%
	CATY	B	0.29%	0.0%	0.0%
	CBRL	D	0.09%	0.09%	0.09%
	CBU	B	0.29%	0.0%	0.0%
	CCOI	C	0.27%	0.29%	0.27%
	CCS	F	0.2%	0.21%	0.2%
	CENTA	C	0.16%	0.14%	0.14%
	CENX	B	0.09%	0.09%	0.09%
	CERT	F	0.1%	0.09%	0.09%
	CEVA	B	0.05%	0.05%	0.05%
	CFFN	B	0.07%	0.07%	0.07%
	CHCO	B	0.15%	0.0%	0.0%
	CHEF	B	0.13%	0.12%	0.12%
	CLB	B	0.09%	0.08%	0.08%
	CMA	B	0.68%	0.7%	0.68%
	CNK	A	0.24%	0.27%	0.24%
	CNMD	C	0.17%	0.19%	0.17%
	CNS	B	0.2%	0.23%	0.2%
	CNXN	C	0.06%	0.07%	0.06%
	COHU	C	0.11%	0.11%	0.11%
	COLL	F	0.09%	0.09%	0.09%
	COOP	B	0.51%	0.5%	0.5%
	CORT	B	0.37%	0.4%	0.37%
	CPF	B	0.06%	0.0%	0.0%
	CPK	B	0.2%	0.23%	0.2%
	CPRX	B	0.2%	0.2%	0.2%
	CRS	B	0.69%	0.67%	0.67%
	CRSR	C	0.03%	0.03%	0.03%
	CRVL	B	0.25%	0.24%	0.24%
	CSGS	B	0.13%	0.12%	0.12%
	CSR	C	0.08%	0.09%	0.08%
	CTKB	C	0.05%	0.05%	0.05%
	CTRE	C	0.32%	0.43%	0.32%
	CTS	B	0.14%	0.13%	0.13%
	CUBI	B	0.12%	0.11%	0.11%
	CVBF	B	0.23%	0.21%	0.21%
	CVCO	B	0.27%	0.32%	0.27%
	CVI	F	0.04%	0.05%	0.04%
	CWEN	D	0.24%	0.2%	0.2%
	CWEN	D	0.24%	0.08%	0.08%
	CWK	B	0.22%	0.18%	0.18%
	CWT	D	0.23%	0.25%	0.23%
	CXM	C	0.08%	0.07%	0.07%
	DAN	F	0.1%	0.09%	0.09%
	DCOM	B	0.09%	0.09%	0.09%
	DEA	D	0.1%	0.11%	0.1%
	DEI	C	0.24%	0.0%	0.0%
	DFIN	D	0.12%	0.13%	0.12%
	DGII	B	0.1%	0.09%	0.09%
	DIOD	F	0.24%	0.24%	0.24%
	DLX	B	0.08%	0.07%	0.07%
	DNOW	B	0.12%	0.11%	0.11%
	DORM	B	0.29%	0.31%	0.29%
	DRH	B	0.16%	0.15%	0.15%
	DXC	B	0.3%	0.31%	0.3%
	DXPE	B	0.08%	0.07%	0.07%
	DY	C	0.37%	0.45%	0.37%
	EAT	A	0.38%	0.41%	0.38%
	EFC	D	0.08%	0.09%	0.08%
	EGBN	B	0.07%	0.07%	0.07%
	EIG	B	0.1%	0.0%	0.0%
	ELME	D	0.11%	0.12%	0.11%
	ENR	B	0.18%	0.18%	0.18%
	ENV	B	0.24%	0.0%	0.0%
	ENVA	A	0.23%	0.2%	0.2%
	EPAC	B	0.21%	0.21%	0.21%
	EPC	F	0.15%	0.15%	0.15%
	EPRT	C	0.42%	0.46%	0.42%
	ESE	B	0.28%	0.28%	0.28%
	ETD	D	0.05%	0.05%	0.05%
	EVTC	B	0.18%	0.17%	0.17%
	EXPI	B	0.08%	0.11%	0.08%
	EYE	D	0.07%	0.08%	0.07%
	FBK	B	0.16%	0.14%	0.14%
	FBNC	B	0.14%	0.14%	0.14%
	FBP	B	0.28%	0.0%	0.0%
	FBRT	C	0.08%	0.09%	0.08%
	FCF	B	0.15%	0.14%	0.14%
	FCPT	D	0.18%	0.22%	0.18%
	FDP	B	0.09%	0.09%	0.09%
	FELE	B	0.35%	0.33%	0.33%
	FFBC	B	0.21%	0.0%	0.0%
	FHB	B	0.28%	0.27%	0.27%
	FIZZ	B	0.09%	0.09%	0.09%
	FL	D	0.19%	0.17%	0.17%
	FLGT	F	0.03%	0.04%	0.03%
	FORM	D	0.27%	0.25%	0.25%
	FSS	C	0.45%	0.43%	0.43%
	FTDR	B	0.33%	0.35%	0.33%
	FUL	F	0.35%	0.34%	0.34%
	FULT	B	0.31%	0.0%	0.0%
	GBX	A	0.16%	0.16%	0.16%
	GDEN	C	0.05%	0.05%	0.05%
	GDOT	C	0.04%	0.01%	0.01%
	GEO	B	0.27%	0.17%	0.17%
	GES	F	0.04%	0.04%	0.04%
	GFF	C	0.2%	0.22%	0.2%
	GIII	C	0.08%	0.1%	0.08%
	GKOS	A	0.56%	0.59%	0.56%
	GMS	B	0.31%	0.31%	0.31%
	GNL	D	0.12%	0.13%	0.12%
	GNW	A	0.25%	0.0%	0.0%
	GO	D	0.15%	0.12%	0.12%
	GOGO	C	0.04%	0.04%	0.04%
	GPI	B	0.44%	0.41%	0.41%
	GPRE	F	0.06%	0.0%	0.0%
	GRBK	D	0.14%	0.19%	0.14%
	GSHD	B	0.21%	0.22%	0.21%
	GTES	B	0.35%	0.0%	0.0%
	GTY	B	0.12%	0.13%	0.12%
	GVA	B	0.32%	0.33%	0.32%
	HAFC	B	0.06%	0.0%	0.0%
	HAIN	F	0.05%	0.07%	0.05%
	HASI	F	0.26%	0.34%	0.26%
	HAYN	A	0.06%	0.06%	0.06%
	HAYW	C	0.16%	0.19%	0.16%
	HBI	B	0.22%	0.21%	0.21%
	HCI	B	0.06%	0.08%	0.06%
	HCSG	B	0.07%	0.07%	0.07%
	HFWA	B	0.07%	0.0%	0.0%
	HI	C	0.2%	0.17%	0.17%
	HIW	D	0.27%	0.29%	0.27%
	HLIT	D	0.11%	0.11%	0.11%
	HLX	D	0.13%	0.11%	0.11%
	HMN	B	0.14%	0.0%	0.0%
	HNI	B	0.21%	0.2%	0.2%
	HOPE	B	0.13%	0.13%	0.13%
	HPP	F	0.05%	0.05%	0.05%
	HRMY	D	0.08%	0.11%	0.08%
	HSII	B	0.07%	0.07%	0.07%
	HSTM	A	0.06%	0.06%	0.06%
	HTH	B	0.12%	0.12%	0.12%
	HTLD	C	0.04%	0.04%	0.04%
	HTZ	D	0.03%	0.03%	0.03%
	HUBG	B	0.24%	0.23%	0.23%
	HWKN	C	0.19%	0.17%	0.17%
	HZO	D	0.05%	0.05%	0.05%
	IAC	F	0.3%	0.3%	0.3%
	IART	C	0.15%	0.14%	0.14%
	IBP	F	0.41%	0.45%	0.41%
	IBTX	B	0.18%	0.17%	0.17%
	ICHR	C	0.09%	0.09%	0.09%
	ICUI	C	0.26%	0.35%	0.26%
	IDCC	A	0.35%	0.36%	0.35%
	IIIN	D	0.05%	0.05%	0.05%
	IIPR	F	0.23%	0.31%	0.23%
	INDB	B	0.24%	0.0%	0.0%
	INN	D	0.05%	0.05%	0.05%
	INVA	B	0.08%	0.09%	0.08%
	IOSP	B	0.24%	0.23%	0.23%
	IPAR	C	0.19%	0.19%	0.19%
	ITGR	B	0.35%	0.36%	0.35%
	ITRI	B	0.43%	0.44%	0.43%
	JBGS	F	0.11%	0.12%	0.11%
	JBLU	D	0.14%	0.15%	0.14%
	JBSS	F	0.06%	0.06%	0.06%
	JBT	C	0.29%	0.31%	0.29%
	JJSF	B	0.21%	0.22%	0.21%
	JOE	F	0.14%	0.17%	0.14%
	JXN	B	0.63%	0.05%	0.05%
	KALU	B	0.11%	0.1%	0.1%
	KAR	A	0.18%	0.15%	0.15%
	KELYA	F	0.04%	0.06%	0.04%
	KFY	B	0.32%	0.33%	0.32%
	KLIC	B	0.22%	0.21%	0.21%
	KMT	B	0.18%	0.17%	0.17%
	KN	B	0.14%	0.13%	0.13%
	KOP	D	0.07%	0.06%	0.06%
	KREF	D	0.05%	0.06%	0.05%
	KSS	F	0.15%	0.17%	0.15%
	KTB	B	0.34%	0.35%	0.34%
	KWR	C	0.18%	0.19%	0.18%
	LCII	D	0.23%	0.24%	0.23%
	LGIH	F	0.17%	0.19%	0.17%
	LGND	B	0.17%	0.17%	0.17%
	LKFN	B	0.15%	0.14%	0.14%
	LMAT	B	0.16%	0.17%	0.16%
	LNC	B	0.5%	0.0%	0.0%
	LNN	B	0.11%	0.11%	0.11%
	LPG	F	0.08%	0.08%	0.08%
	LQDT	A	0.04%	0.04%	0.04%
	LRN	B	0.31%	0.34%	0.31%
	LTC	A	0.13%	0.14%	0.13%
	LXP	D	0.22%	0.23%	0.22%
	LZB	C	0.13%	0.14%	0.13%
	MAC	B	0.31%	0.34%	0.31%
	MARA	C	0.41%	0.4%	0.4%
	MATV	F	0.06%	0.07%	0.06%
	MATW	C	0.06%	0.06%	0.06%
	MATX	B	0.44%	0.45%	0.44%
	MC	B	0.43%	0.0%	0.0%
	MCRI	A	0.08%	0.09%	0.08%
	MCW	B	0.06%	0.06%	0.06%
	MCY	B	0.17%	0.15%	0.15%
	MD	B	0.1%	0.11%	0.1%
	MGPI	F	0.06%	0.06%	0.06%
	MHO	D	0.35%	0.37%	0.35%
	MLAB	D	0.05%	0.05%	0.05%
	MLI	B	0.86%	0.8%	0.8%
	MLKN	D	0.15%	0.14%	0.14%
	MMI	B	0.07%	0.08%	0.07%
	MMSI	A	0.44%	0.48%	0.44%
	MNRO	B	0.07%	0.07%	0.07%
	MODG	F	0.11%	0.12%	0.11%
	MPW	F	0.19%	0.23%	0.19%
	MRCY	B	0.17%	0.14%	0.14%
	MRTN	B	0.08%	0.08%	0.08%
	MSEX	B	0.09%	0.1%	0.09%
	MTH	D	0.52%	0.58%	0.52%
	MTRN	B	0.21%	0.19%	0.19%
	MTUS	C	0.05%	0.05%	0.05%
	MTX	B	0.21%	0.21%	0.21%
	MYE	F	0.04%	0.04%	0.04%
	MYGN	F	0.13%	0.13%	0.13%
	MYRG	B	0.2%	0.19%	0.19%
	NABL	F	0.06%	0.07%	0.06%
	NAVI	C	0.11%	0.09%	0.09%
	NBHC	B	0.15%	0.0%	0.0%
	NBR	C	0.06%	0.06%	0.06%
	NBTB	B	0.19%	0.0%	0.0%
	NEO	C	0.15%	0.16%	0.15%
	NHC	B	0.15%	0.12%	0.12%
	NMIH	D	0.23%	0.25%	0.23%
	NPO	B	0.28%	0.26%	0.26%
	NSIT	F	0.39%	0.4%	0.39%
	NTCT	B	0.13%	0.13%	0.13%
	NVEE	C	0.1%	0.1%	0.1%
	NVRI	F	0.05%	0.05%	0.05%
	NWBI	B	0.15%	0.0%	0.0%
	NWL	B	0.25%	0.31%	0.25%
	NWN	B	0.12%	0.13%	0.12%
	NX	C	0.1%	0.12%	0.1%
	NXRT	C	0.08%	0.08%	0.08%
	ODP	F	0.07%	0.09%	0.07%
	OFG	C	0.16%	0.0%	0.0%
	OGN	F	0.34%	0.35%	0.34%
	OI	D	0.16%	0.16%	0.16%
	OMI	F	0.07%	0.07%	0.07%
	OSIS	C	0.19%	0.18%	0.18%
	OTTR	C	0.29%	0.29%	0.29%
	OXM	D	0.09%	0.09%	0.09%
	PAHC	B	0.04%	0.04%	0.04%
	PARR	F	0.08%	0.07%	0.07%
	PATK	D	0.2%	0.22%	0.2%
	PAYO	B	0.21%	0.0%	0.0%
	PBH	A	0.31%	0.31%	0.31%
	PCRX	D	0.07%	0.07%	0.07%
	PDCO	D	0.14%	0.14%	0.14%
	PEB	D	0.13%	0.12%	0.12%
	PECO	B	0.35%	0.4%	0.35%
	PENN	B	0.24%	0.23%	0.23%
	PFBC	B	0.09%	0.0%	0.0%
	PFS	B	0.22%	0.0%	0.0%
	PINC	B	0.19%	0.2%	0.19%
	PIPR	B	0.41%	0.38%	0.38%
	PJT	B	0.27%	0.28%	0.27%
	PLAB	C	0.14%	0.13%	0.13%
	PLAY	C	0.09%	0.1%	0.09%
	PLMR	C	0.19%	0.2%	0.19%
	PLUS	D	0.22%	0.2%	0.2%
	PLXS	B	0.35%	0.34%	0.34%
	PMT	F	0.09%	0.1%	0.09%
	POWL	B	0.24%	0.23%	0.23%
	PPBI	B	0.22%	0.0%	0.0%
	PRA	B	0.06%	0.0%	0.0%
	PRAA	C	0.08%	0.08%	0.08%
	PRDO	B	0.13%	0.0%	0.0%
	PRG	C	0.16%	0.16%	0.16%
	PRGS	A	0.22%	0.23%	0.22%
	PRK	B	0.22%	0.21%	0.21%
	PRLB	B	0.08%	0.07%	0.07%
	PRVA	B	0.19%	0.17%	0.17%
	PSMT	D	0.18%	0.18%	0.18%
	PTGX	C	0.2%	0.23%	0.2%
	QNST	B	0.09%	0.1%	0.09%
	RAMP	C	0.15%	0.14%	0.14%
	RC	D	0.08%	0.09%	0.08%
	RCUS	C	0.07%	0.07%	0.07%
	RDN	C	0.41%	0.41%	0.41%
	RDNT	B	0.37%	0.37%	0.37%
	REX	C	0.06%	0.06%	0.06%
	REZI	A	0.26%	0.25%	0.25%
	RGNX	F	0.04%	0.03%	0.03%
	RHI	B	0.59%	0.59%	0.59%
	RNST	B	0.19%	0.0%	0.0%
	ROCK	B	0.17%	0.18%	0.17%
	ROG	D	0.15%	0.15%	0.15%
	ROIC	A	0.17%	0.18%	0.17%
	RUSHA	B	0.32%	0.31%	0.31%
	RWT	D	0.07%	0.08%	0.07%
	SAFT	B	0.1%	0.1%	0.1%
	SAH	B	0.08%	0.07%	0.07%
	SANM	B	0.37%	0.34%	0.34%
	SATS	C	0.2%	0.25%	0.2%
	SBCF	B	0.19%	0.0%	0.0%
	SBH	C	0.11%	0.11%	0.11%
	SBSI	B	0.08%	0.08%	0.08%
	SCHL	D	0.05%	0.05%	0.05%
	SCL	C	0.14%	0.13%	0.13%
	SCSC	B	0.11%	0.09%	0.09%
	SCVL	D	0.05%	0.05%	0.05%
	SEE	C	0.41%	0.0%	0.0%
	SEM	B	0.33%	0.33%	0.33%
	SFBS	B	0.37%	0.36%	0.36%
	SFNC	B	0.24%	0.0%	0.0%
	SHAK	B	0.37%	0.42%	0.37%
	SHEN	F	0.05%	0.05%	0.05%
	SHO	B	0.17%	0.18%	0.17%
	SHOO	D	0.24%	0.27%	0.24%
	SIG	B	0.35%	0.34%	0.34%
	SITM	B	0.3%	0.28%	0.28%
	SJW	D	0.13%	0.14%	0.13%
	SKT	A	0.28%	0.31%	0.28%
	SKYW	B	0.35%	0.35%	0.35%
	SLG	C	0.39%	0.42%	0.39%
	SLP	D	0.04%	0.04%	0.04%
	SLVM	C	0.26%	0.25%	0.25%
	SMP	B	0.05%	0.06%	0.05%
	SMPL	B	0.23%	0.26%	0.23%
	SNCY	B	0.04%	0.05%	0.04%
	SNDR	A	0.08%	0.11%	0.08%
	SNEX	B	0.21%	0.22%	0.21%
	SONO	C	0.14%	0.14%	0.14%
	SPNT	C	0.1%	0.1%	0.1%
	SPSC	D	0.54%	0.53%	0.53%
	SPTN	F	0.05%	0.06%	0.05%
	SSTK	D	0.06%	0.07%	0.06%
	STAA	F	0.13%	0.12%	0.12%
	STBA	C	0.13%	0.0%	0.0%
	STC	C	0.15%	0.0%	0.0%
	STEP	B	0.27%	0.31%	0.27%
	STRA	C	0.17%	0.18%	0.17%
	SUPN	B	0.17%	0.16%	0.16%
	SVC	F	0.04%	0.04%	0.04%
	SWI	B	0.05%	0.06%	0.05%
	SXC	B	0.09%	0.08%	0.08%
	SXI	B	0.2%	0.18%	0.18%
	SXT	B	0.27%	0.27%	0.27%
	TBBK	B	0.23%	0.0%	0.0%
	TDS	B	0.25%	0.23%	0.23%
	TDW	F	0.29%	0.24%	0.24%
	TFIN	A	0.17%	0.16%	0.16%
	THRM	D	0.12%	0.12%	0.12%
	THRY	F	0.04%	0.04%	0.04%
	THS	F	0.14%	0.14%	0.14%
	TILE	B	0.11%	0.12%	0.11%
	TMP	B	0.07%	0.07%	0.07%
	TNC	F	0.14%	0.14%	0.14%
	TPH	D	0.31%	0.33%	0.31%
	TR	C	0.04%	0.04%	0.04%
	TRIP	D	0.14%	0.15%	0.14%
	TRMK	B	0.18%	0.0%	0.0%
	TRN	A	0.24%	0.23%	0.23%
	TRST	B	0.05%	0.0%	0.0%
	TRUP	B	0.14%	0.14%	0.14%
	TTMI	A	0.21%	0.19%	0.19%
	TWI	D	0.03%	0.03%	0.03%
	UCB	B	0.3%	0.0%	0.0%
	UCTT	F	0.15%	0.14%	0.14%
	UE	B	0.21%	0.23%	0.21%
	UFCS	A	0.04%	0.04%	0.04%
	UFPT	B	0.21%	0.2%	0.2%
	UHT	D	0.04%	0.04%	0.04%
	UNF	B	0.23%	0.23%	0.23%
	UNFI	B	0.1%	0.1%	0.1%
	UPBD	B	0.12%	0.13%	0.12%
	URBN	C	0.17%	0.17%	0.17%
	USNA	C	0.04%	0.04%	0.04%
	USPH	C	0.11%	0.1%	0.1%
	UTL	C	0.07%	0.08%	0.07%
	VBTX	B	0.13%	0.0%	0.0%
	VCEL	B	0.21%	0.18%	0.18%
	VECO	F	0.14%	0.14%	0.14%
	VFC	C	0.55%	0.59%	0.55%
	VIAV	B	0.18%	0.18%	0.18%
	VICR	B	0.1%	0.1%	0.1%
	VIRT	B	0.22%	0.22%	0.22%
	VRRM	F	0.29%	0.32%	0.29%
	VRTS	B	0.13%	0.12%	0.12%
	VSAT	F	0.06%	0.07%	0.06%
	VSCO	B	0.23%	0.21%	0.21%
	VTOL	B	0.08%	0.07%	0.07%
	VVI	B	0.07%	0.07%	0.07%
	WABC	B	0.12%	0.11%	0.11%
	WAFD	B	0.19%	0.23%	0.19%
	WD	C	0.29%	0.3%	0.29%
	WDFC	A	0.29%	0.31%	0.29%
	WERN	B	0.19%	0.2%	0.19%
	WGO	B	0.15%	0.14%	0.14%
	WHD	B	0.35%	0.34%	0.34%
	WKC	D	0.13%	0.13%	0.13%
	WNC	C	0.07%	0.07%	0.07%
	WOR	D	0.1%	0.1%	0.1%
	WRLD	C	0.03%	0.03%	0.03%
	WSFS	A	0.27%	0.0%	0.0%
	WSR	A	0.05%	0.05%	0.05%
	WT	B	0.1%	0.1%	0.1%
	WWW	B	0.13%	0.1%	0.1%
	XHR	B	0.12%	0.12%	0.12%
	XNCR	B	0.09%	0.11%	0.09%
	XPEL	C	0.07%	0.07%	0.07%
	XRX	F	0.08%	0.08%	0.08%
	YELP	C	0.19%	0.19%	0.19%

QVMS Overweight 36 Positions Relative to XJR

	Symbol	Grade	Weight
	MOG.A	B	0.5%
	SM	C	0.43%
	MGY	B	0.4%
	KRYS	B	0.34%
	HCC	C	0.34%
	NOG	B	0.32%
	ASO	F	0.29%
	CRC	B	0.29%
	RXO	C	0.28%
	HP	C	0.28%
	CEIX	B	0.28%
	AMR	C	0.26%
	OII	B	0.26%
	BTU	C	0.26%
	MGEE	A	0.26%
	ARCH	B	0.25%
	PTEN	D	0.23%
	AVA	D	0.22%
	LBRT	D	0.22%
	AIN	D	0.21%
	CXW	B	0.19%
	VSTO	A	0.19%
	PHIN	B	0.18%
	TALO	B	0.15%
	VSTS	D	0.13%
	FTRE	D	0.13%
	WS	B	0.11%
	CRK	B	0.1%
	UVV	B	0.1%
	KLG	D	0.09%
	VTLE	C	0.08%
	EZPW	B	0.05%
	PUMP	D	0.05%
	RGR	F	0.05%
	RES	D	0.04%
	NPK	C	0.03%

QVMS Underweight 53 Positions Relative to XJR

	Symbol	Grade	Weight
	LUMN	B	-0.65%
	SPXC	B	-0.6%
	BOX	B	-0.4%
	FUN	C	-0.33%
	RUN	F	-0.31%
	MSGS	B	-0.3%
	SMTC	B	-0.29%
	DV	C	-0.22%
	OUT	C	-0.21%
	NARI	C	-0.21%
	CURB	C	-0.19%
	DOCN	D	-0.19%
	QDEL	F	-0.19%
	OMCL	C	-0.19%
	BANC	B	-0.18%
	TNDM	F	-0.18%
	EXTR	B	-0.17%
	WLY	A	-0.17%
	PZZA	D	-0.16%
	VYX	B	-0.16%
	AMPH	C	-0.16%
	LEG	F	-0.14%
	NGVT	B	-0.13%
	ADEA	C	-0.12%
	FOXF	F	-0.12%
	DVAX	B	-0.12%
	SABR	C	-0.11%
	STEL	B	-0.11%
	KW	C	-0.11%
	UNIT	B	-0.11%
	VRE	C	-0.11%
	TWO	F	-0.1%
	SEDG	F	-0.09%
	TGI	B	-0.09%
	ECPG	B	-0.09%
	PDFS	B	-0.08%
	ARR	D	-0.08%
	SAFE	F	-0.08%
	JACK	D	-0.08%
	SDGR	C	-0.08%
	MXL	C	-0.08%
	BSIG	A	-0.07%
	VIR	C	-0.07%
	FWRD	D	-0.06%
	TTGT	C	-0.06%
	SITC	D	-0.06%
	LESL	D	-0.05%
	IRWD	D	-0.05%
	INVX	D	-0.04%
	NYMT	F	-0.04%
	CENT	C	-0.03%
	CNSL	B	-0.03%
	PBI	B	-0.0%

QVMS: Top Represented Industries & Keywords

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

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

XJR: Top Represented Industries & Keywords

Industries: Banks - Regional - US REIT - Diversified Biotechnology Diversified Industrials REIT - Retail Specialty Chemicals Asset Management Packaged Foods Software - Application Insurance - Property & Casualty Restaurants Software - Infrastructure Communication Equipment Medical Devices REIT - Hotel & Motel REIT - Office Semiconductor Equipment & Materials Telecom Services Auto Parts Building Materials

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