QWLD vs. DFLV ETF Comparison

Comparison of SPDR MSCI World Quality Mix ETF (QWLD) to Dimensional US Large Cap Value ETF (DFLV)

QWLD

SPDR MSCI World Quality Mix ETF

QWLD Description

The investment seeks to track the performance of the MSCI World Quality Mix Index. The index captures large-and mid-cap representation across 24 developed countries and aims to represent the performance of value, low volatility, and quality factor strategies. Under normal market conditions, the fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index or in American Depositary Receipts ("ADRs") or Global Depositary Receipts ("GDRs") based on securities comprising the index. It is non-diversified.

Grade (RS Rating)

Last Trade

$127.97

Average Daily Volume

3,476

Number of Holdings ^*

610

* may have additional holdings in another (foreign) market

DFLV

Dimensional US Large Cap Value ETF

DFLV Description

To achieve the U.S. Large Cap Value ETF"s investment objective, the Advisor implements an integrated investment approach that combines research, portfolio design, portfolio management, and trading functions. As a non-fundamental policy, under normal circumstances, the Portfolio will invest at least 80% of its net assets in securities of large cap U.S. companies.

Grade (RS Rating)

Last Trade

$32.15

Average Daily Volume

324,414

Number of Holdings ^*

330

* may have additional holdings in another (foreign) market

Performance

Period	QWLD	DFLV
30 Days	-0.47%	3.28%
60 Days	0.20%	5.48%
90 Days	0.50%	6.32%
12 Months	22.20%	29.27%

284 Overlapping Holdings

	Symbol	Grade	Weight in QWLD	Weight in DFLV	Overlap
	ABT	B	0.09%	0.85%	0.09%
	ACGL	C	0.26%	0.4%	0.26%
	ACI	C	0.02%	0.07%	0.02%
	ACM	B	0.01%	0.0%	0.0%
	ADI	D	0.04%	0.65%	0.04%
	ADM	D	0.05%	0.09%	0.05%
	AFG	A	0.02%	0.01%	0.01%
	AFL	B	0.12%	0.27%	0.12%
	AIG	B	0.07%	0.54%	0.07%
	AKAM	D	0.11%	0.14%	0.11%
	ALGN	D	0.0%	0.0%	0.0%
	ALL	A	0.08%	0.16%	0.08%
	ALLY	C	0.02%	0.04%	0.02%
	AMCR	C	0.08%	0.13%	0.08%
	AMD	F	0.03%	0.53%	0.03%
	AME	A	0.01%	0.42%	0.01%
	APD	A	0.03%	0.46%	0.03%
	APTV	F	0.01%	0.09%	0.01%
	AVTR	F	0.01%	0.08%	0.01%
	BAC	A	0.39%	1.01%	0.39%
	BALL	F	0.01%	0.21%	0.01%
	BAX	F	0.01%	0.05%	0.01%
	BBY	D	0.06%	0.01%	0.01%
	BDX	F	0.07%	0.44%	0.07%
	BG	D	0.03%	0.13%	0.03%
	BIIB	F	0.01%	0.14%	0.01%
	BK	A	0.05%	0.71%	0.05%
	BKR	A	0.02%	0.58%	0.02%
	BLDR	D	0.05%	0.28%	0.05%
	BLK	B	0.25%	0.08%	0.08%
	BMRN	F	0.07%	0.03%	0.03%
	BMY	B	0.21%	0.41%	0.21%
	BRK.A	B	0.73%	2.15%	0.73%
	BSX	A	0.02%	0.01%	0.01%
	C	A	0.25%	0.39%	0.25%
	CAG	F	0.04%	0.06%	0.04%
	CARR	C	0.02%	0.29%	0.02%
	CB	C	0.4%	0.6%	0.4%
	CBRE	B	0.03%	0.49%	0.03%
	CCK	D	0.01%	0.02%	0.01%
	CCL	A	0.01%	0.04%	0.01%
	CE	F	0.01%	0.07%	0.01%
	CF	A	0.13%	0.18%	0.13%
	CFG	B	0.04%	0.04%	0.04%
	CG	B	0.01%	0.0%	0.0%
	CHD	A	0.19%	0.02%	0.02%
	CHTR	C	0.05%	0.03%	0.03%
	CI	D	0.18%	0.73%	0.18%
	CINF	A	0.02%	0.06%	0.02%
	CMCSA	B	0.17%	1.52%	0.17%
	CME	B	0.16%	0.04%	0.04%
	CMI	A	0.1%	0.74%	0.1%
	CNC	D	0.05%	0.27%	0.05%
	CNH	C	0.01%	0.01%	0.01%
	COF	C	0.1%	0.47%	0.1%
	COP	C	0.1%	1.25%	0.1%
	CPB	D	0.09%	0.13%	0.09%
	CRBG	B	0.01%	0.09%	0.01%
	CRL	D	0.0%	0.07%	0.0%
	CRM	B	0.06%	1.39%	0.06%
	CSCO	B	1.03%	1.73%	1.03%
	CSGP	D	0.0%	0.05%	0.0%
	CSL	C	0.03%	0.17%	0.03%
	CSX	C	0.11%	0.36%	0.11%
	CTRA	B	0.02%	0.19%	0.02%
	CTSH	B	0.2%	0.64%	0.2%
	CTVA	C	0.04%	0.19%	0.04%
	CVS	D	0.16%	0.35%	0.16%
	CVX	A	0.33%	2.12%	0.33%
	DAL	B	0.01%	0.56%	0.01%
	DD	C	0.02%	0.2%	0.02%
	DE	B	0.06%	0.61%	0.06%
	DFS	B	0.04%	0.66%	0.04%
	DG	F	0.01%	0.03%	0.01%
	DGX	A	0.11%	0.25%	0.11%
	DHI	F	0.1%	0.38%	0.1%
	DHR	F	0.05%	0.72%	0.05%
	DINO	D	0.05%	0.03%	0.03%
	DIS	B	0.1%	0.48%	0.1%
	DKS	D	0.02%	0.02%	0.02%
	DLTR	F	0.01%	0.12%	0.01%
	DOV	A	0.05%	0.35%	0.05%
	DOW	F	0.03%	0.66%	0.03%
	DVN	F	0.03%	0.28%	0.03%
	EA	A	0.2%	0.37%	0.2%
	EBAY	D	0.01%	0.47%	0.01%
	EG	C	0.06%	0.34%	0.06%
	ELV	F	0.21%	0.79%	0.21%
	EMN	C	0.01%	0.14%	0.01%
	EMR	B	0.03%	0.28%	0.03%
	ENTG	D	0.0%	0.04%	0.0%
	EOG	A	0.06%	0.5%	0.06%
	EPAM	B	0.02%	0.03%	0.02%
	EQT	B	0.02%	0.07%	0.02%
	ETN	A	0.03%	0.44%	0.03%
	EW	C	0.07%	0.14%	0.07%
	F	C	0.09%	0.53%	0.09%
	FANG	C	0.09%	0.58%	0.09%
	FBIN	D	0.0%	0.02%	0.0%
	FCNCA	A	0.11%	0.19%	0.11%
	FCX	F	0.02%	0.44%	0.02%
	FDX	B	0.07%	0.6%	0.07%
	FFIV	B	0.16%	0.06%	0.06%
	FI	A	0.09%	0.37%	0.09%
	FIS	C	0.02%	0.41%	0.02%
	FITB	B	0.03%	0.4%	0.03%
	FNF	B	0.01%	0.07%	0.01%
	FOX	A	0.01%	0.06%	0.01%
	FOXA	A	0.01%	0.12%	0.01%
	FSLR	F	0.01%	0.2%	0.01%
	FTV	C	0.01%	0.18%	0.01%
	GD	D	0.18%	0.47%	0.18%
	GEHC	D	0.02%	0.42%	0.02%
	GGG	B	0.03%	0.01%	0.01%
	GILD	C	0.24%	0.76%	0.24%
	GIS	D	0.33%	0.5%	0.33%
	GLW	B	0.02%	0.75%	0.02%
	GM	C	0.19%	0.9%	0.19%
	GPC	D	0.05%	0.15%	0.05%
	GPN	B	0.02%	0.15%	0.02%
	GRMN	B	0.05%	0.47%	0.05%
	GS	A	0.17%	1.15%	0.17%
	H	B	0.0%	0.01%	0.0%
	HAL	C	0.02%	0.25%	0.02%
	HBAN	A	0.03%	0.12%	0.03%
	HES	B	0.01%	0.07%	0.01%
	HIG	B	0.03%	0.64%	0.03%
	HII	F	0.01%	0.02%	0.01%
	HOLX	D	0.01%	0.15%	0.01%
	HOOD	B	0.0%	0.0%	0.0%
	HPE	B	0.04%	0.34%	0.04%
	HPQ	B	0.04%	0.27%	0.04%
	HRL	D	0.09%	0.06%	0.06%
	HSIC	C	0.01%	0.02%	0.01%
	HUM	C	0.15%	0.11%	0.11%
	ICE	C	0.03%	0.02%	0.02%
	IEX	C	0.03%	0.05%	0.03%
	IFF	D	0.01%	0.09%	0.01%
	ILMN	C	0.0%	0.01%	0.0%
	INCY	C	0.15%	0.01%	0.01%
	INTC	C	0.1%	0.33%	0.1%
	IP	A	0.02%	0.15%	0.02%
	IPG	D	0.02%	0.06%	0.02%
	IQV	F	0.01%	0.01%	0.01%
	IR	B	0.01%	0.53%	0.01%
	J	D	0.01%	0.1%	0.01%
	JBHT	C	0.03%	0.1%	0.03%
	JBL	C	0.02%	0.04%	0.02%
	JCI	B	0.03%	0.6%	0.03%
	JNJ	C	1.1%	1.13%	1.1%
	JNPR	D	0.12%	0.09%	0.09%
	JPM	A	0.6%	5.12%	0.6%
	KDP	F	0.14%	0.31%	0.14%
	KEY	B	0.02%	0.07%	0.02%
	KEYS	A	0.17%	0.21%	0.17%
	KHC	F	0.2%	0.16%	0.16%
	KMI	A	0.04%	0.37%	0.04%
	KMX	B	0.02%	0.01%	0.01%
	KNX	C	0.01%	0.01%	0.01%
	KR	B	0.31%	0.66%	0.31%
	KVUE	A	0.08%	0.4%	0.08%
	L	A	0.17%	0.3%	0.17%
	LDOS	C	0.01%	0.19%	0.01%
	LEN	D	0.09%	0.0%	0.0%
	LEN	D	0.09%	0.48%	0.09%
	LH	B	0.02%	0.43%	0.02%
	LHX	C	0.02%	0.33%	0.02%
	LIN	C	0.06%	0.58%	0.06%
	LKQ	F	0.01%	0.07%	0.01%
	LUV	C	0.0%	0.11%	0.0%
	LYB	F	0.03%	0.44%	0.03%
	MDLZ	F	0.14%	0.62%	0.14%
	MDT	D	0.06%	0.66%	0.06%
	MET	A	0.05%	0.42%	0.05%
	MKC	C	0.01%	0.05%	0.01%
	MKL	A	0.13%	0.12%	0.12%
	MLM	C	0.01%	0.52%	0.01%
	MNST	C	0.07%	0.0%	0.0%
	MOH	F	0.06%	0.12%	0.06%
	MOS	F	0.02%	0.01%	0.01%
	MPC	D	0.17%	0.5%	0.17%
	MRK	D	0.42%	0.02%	0.02%
	MRNA	F	0.01%	0.04%	0.01%
	MRO	B	0.02%	0.09%	0.02%
	MRVL	B	0.01%	0.2%	0.01%
	MS	A	0.12%	1.0%	0.12%
	MTB	A	0.05%	0.23%	0.05%
	MU	D	0.04%	0.34%	0.04%
	NDAQ	A	0.01%	0.0%	0.0%
	NDSN	B	0.02%	0.04%	0.02%
	NEM	D	0.04%	0.3%	0.04%
	NOC	D	0.32%	0.31%	0.31%
	NRG	B	0.02%	0.17%	0.02%
	NSC	B	0.03%	0.58%	0.03%
	NTRS	A	0.02%	0.11%	0.02%
	NUE	C	0.04%	0.69%	0.04%
	NWSA	A	0.01%	0.07%	0.01%
	OC	A	0.03%	0.31%	0.03%
	OKE	A	0.03%	0.33%	0.03%
	OKTA	C	0.0%	0.02%	0.0%
	OMC	C	0.04%	0.16%	0.04%
	ON	D	0.01%	0.25%	0.01%
	OTIS	C	0.01%	0.19%	0.01%
	OVV	B	0.02%	0.08%	0.02%
	OXY	D	0.03%	0.14%	0.03%
	PCAR	B	0.11%	0.82%	0.11%
	PFE	F	0.18%	0.32%	0.18%
	PFG	D	0.02%	0.18%	0.02%
	PH	A	0.02%	0.24%	0.02%
	PHM	D	0.06%	0.5%	0.06%
	PKG	A	0.04%	0.25%	0.04%
	PNC	B	0.1%	0.25%	0.1%
	PNR	A	0.03%	0.26%	0.03%
	PPG	F	0.01%	0.35%	0.01%
	PRU	A	0.05%	0.57%	0.05%
	PSX	C	0.14%	0.5%	0.14%
	PWR	A	0.01%	0.29%	0.01%
	PYPL	B	0.04%	0.25%	0.04%
	QRVO	F	0.0%	0.01%	0.0%
	REGN	F	0.31%	0.42%	0.31%
	RF	A	0.03%	0.5%	0.03%
	RJF	A	0.02%	0.41%	0.02%
	ROP	B	0.48%	0.11%	0.11%
	RS	B	0.02%	0.19%	0.02%
	RSG	A	0.46%	0.13%	0.13%
	RTX	D	0.09%	0.76%	0.09%
	RVTY	F	0.01%	0.02%	0.01%
	SCHW	B	0.04%	0.04%	0.04%
	SJM	D	0.07%	0.12%	0.07%
	SLB	C	0.03%	0.06%	0.03%
	SNA	A	0.04%	0.24%	0.04%
	SOLV	D	0.03%	0.02%	0.02%
	SQ	A	0.02%	0.2%	0.02%
	SSNC	B	0.01%	0.17%	0.01%
	STE	D	0.01%	0.19%	0.01%
	STLD	B	0.02%	0.57%	0.02%
	STT	B	0.03%	0.17%	0.03%
	STZ	D	0.01%	0.41%	0.01%
	SW	A	0.03%	0.07%	0.03%
	SWK	D	0.01%	0.04%	0.01%
	SWKS	F	0.03%	0.11%	0.03%
	SYF	B	0.04%	0.22%	0.04%
	T	A	0.39%	1.27%	0.39%
	TAP	C	0.01%	0.03%	0.01%
	TDY	B	0.06%	0.09%	0.06%
	TFC	A	0.09%	0.13%	0.09%
	TFX	F	0.0%	0.02%	0.0%
	TGT	F	0.15%	0.37%	0.15%
	TMO	F	0.06%	0.72%	0.06%
	TMUS	B	0.76%	0.92%	0.76%
	TRMB	B	0.01%	0.07%	0.01%
	TROW	B	0.05%	0.21%	0.05%
	TRU	D	0.01%	0.1%	0.01%
	TRV	B	0.3%	0.62%	0.3%
	TSN	B	0.15%	0.43%	0.15%
	TTWO	A	0.01%	0.21%	0.01%
	TWLO	A	0.01%	0.01%	0.01%
	TXT	D	0.01%	0.4%	0.01%
	UHAL	D	0.0%	0.0%	0.0%
	UHAL	D	0.0%	0.08%	0.0%
	UHS	D	0.01%	0.2%	0.01%
	UNH	B	1.35%	1.04%	1.04%
	URI	C	0.02%	0.56%	0.02%
	USB	A	0.09%	0.26%	0.09%
	UTHR	C	0.15%	0.15%	0.15%
	VLO	C	0.08%	0.63%	0.08%
	VMC	B	0.01%	0.5%	0.01%
	VTRS	A	0.03%	0.07%	0.03%
	VZ	C	0.58%	1.37%	0.58%
	WAB	B	0.01%	0.29%	0.01%
	WBA	F	0.04%	0.01%	0.01%
	WBD	B	0.07%	0.05%	0.05%
	WDC	D	0.01%	0.12%	0.01%
	WFC	A	0.28%	1.49%	0.28%
	WLK	D	0.0%	0.04%	0.0%
	WMB	A	0.19%	0.3%	0.19%
	WRB	A	0.14%	0.11%	0.11%
	WTW	B	0.07%	0.15%	0.07%
	XOM	B	0.47%	4.17%	0.47%
	XYL	D	0.01%	0.14%	0.01%
	Z	A	0.0%	0.02%	0.0%
	ZBH	C	0.01%	0.24%	0.01%
	ZBRA	B	0.01%	0.12%	0.01%
	ZM	C	0.01%	0.06%	0.01%

QWLD Overweight 328 Positions Relative to DFLV

	Symbol	Grade	Weight
	AAPL	C	2.57%
	NVDA	B	2.53%
	MSFT	D	2.3%
	META	D	2.11%
	V	A	1.21%
	LLY	F	1.14%
	GOOGL	C	1.07%
	PG	C	0.95%
	GOOG	C	0.94%
	NVS	F	0.79%
	PEP	F	0.77%
	COST	A	0.76%
	WMT	A	0.76%
	MA	B	0.71%
	MSI	B	0.65%
	ACN	B	0.65%
	MCK	A	0.58%
	KO	D	0.56%
	NFLX	A	0.54%
	WM	B	0.52%
	MMC	B	0.51%
	TXN	C	0.48%
	SO	C	0.46%
	IBM	C	0.46%
	VRTX	D	0.43%
	APH	A	0.43%
	MCD	D	0.42%
	LMT	D	0.42%
	ADBE	C	0.42%
	COR	B	0.41%
	AMZN	C	0.37%
	DUK	C	0.36%
	CAT	B	0.36%
	PGR	A	0.35%
	TJX	A	0.35%
	ED	C	0.35%
	ABBV	F	0.34%
	QCOM	F	0.32%
	GE	D	0.31%
	AMAT	F	0.29%
	AZO	C	0.28%
	INTU	B	0.27%
	UL	D	0.27%
	WCN	A	0.27%
	ADP	A	0.26%
	UNP	C	0.26%
	HON	C	0.26%
	HSBH	B	0.25%
	GDDY	A	0.25%
	ORCL	A	0.25%
	ISRG	A	0.25%
	ORLY	B	0.24%
	CBOE	C	0.24%
	MFG	A	0.24%
	K	A	0.23%
	CL	D	0.2%
	WEC	A	0.2%
	AJG	A	0.19%
	ANET	C	0.19%
	LRCX	F	0.18%
	PANW	B	0.18%
	NKE	F	0.17%
	AON	A	0.17%
	CHKP	C	0.17%
	ABBV	F	0.16%
	HSY	F	0.16%
	TSLA	B	0.16%
	AMGN	F	0.16%
	TM	F	0.15%
	YUM	D	0.15%
	BAH	F	0.15%
	HD	B	0.15%
	ZTS	D	0.15%
	TT	A	0.15%
	CMG	B	0.14%
	VRSN	C	0.14%
	BRO	B	0.14%
	CTAS	B	0.14%
	MMM	D	0.14%
	SHW	B	0.14%
	MUFG	B	0.14%
	KLAC	F	0.14%
	CAH	B	0.13%
	MCO	B	0.13%
	CDNS	B	0.13%
	ITW	B	0.13%
	ERIE	D	0.12%
	GEN	B	0.12%
	SNPS	B	0.12%
	TD	D	0.12%
	E	F	0.12%
	NBIX	C	0.11%
	KMB	C	0.11%
	AVGO	D	0.11%
	BCS	A	0.11%
	DEO	F	0.11%
	GWW	B	0.11%
	ADSK	A	0.1%
	CNI	F	0.1%
	PAYX	B	0.1%
	SMFG	B	0.1%
	XEL	A	0.09%
	PSA	C	0.09%
	LYG	D	0.09%
	AEE	A	0.09%
	FAST	B	0.09%
	AMP	A	0.09%
	ODFL	C	0.08%
	PTC	B	0.08%
	CPRT	B	0.08%
	ROL	B	0.08%
	AIZ	A	0.08%
	SONY	B	0.08%
	STLA	F	0.08%
	JKHY	D	0.07%
	HMC	F	0.07%
	UPS	C	0.07%
	AEP	C	0.07%
	PM	B	0.07%
	CDW	F	0.07%
	LULU	C	0.07%
	IDXX	F	0.07%
	LOW	C	0.07%
	NEE	C	0.06%
	TSCO	D	0.06%
	TPL	A	0.06%
	MCHP	F	0.06%
	LNG	A	0.06%
	D	C	0.06%
	LOGI	D	0.06%
	ROK	C	0.06%
	DPZ	C	0.06%
	A	D	0.06%
	AXP	A	0.06%
	ULTA	F	0.06%
	NVR	D	0.06%
	VEEV	C	0.05%
	LPLA	A	0.05%
	BTI	B	0.05%
	VLTO	C	0.05%
	FICO	B	0.05%
	MT	B	0.05%
	CMS	C	0.05%
	DECK	A	0.05%
	RMD	C	0.05%
	HCA	F	0.04%
	WST	C	0.04%
	SPGI	C	0.04%
	SRE	A	0.04%
	SBUX	A	0.04%
	MANH	D	0.04%
	EXPD	C	0.04%
	HUBB	B	0.04%
	WAT	C	0.04%
	MO	A	0.04%
	MPWR	F	0.04%
	BR	A	0.04%
	WDAY	B	0.04%
	TRGP	A	0.04%
	NTAP	C	0.04%
	PLD	F	0.04%
	EME	A	0.04%
	EIX	B	0.03%
	AVY	F	0.03%
	SYY	D	0.03%
	ETR	B	0.03%
	BX	A	0.03%
	FDS	B	0.03%
	POOL	C	0.03%
	LNT	A	0.03%
	BKNG	A	0.03%
	SYK	B	0.03%
	WSO	A	0.03%
	EXC	C	0.03%
	PCG	A	0.03%
	DRI	B	0.03%
	WSM	C	0.03%
	IT	C	0.03%
	EQIX	A	0.02%
	TTC	C	0.02%
	NXPI	D	0.02%
	MKTX	D	0.02%
	WY	F	0.02%
	AOS	F	0.02%
	APO	B	0.02%
	SEIC	B	0.02%
	NMR	B	0.02%
	CEG	C	0.02%
	ROST	D	0.02%
	DTE	C	0.02%
	SPG	A	0.02%
	AER	A	0.02%
	DLR	B	0.02%
	WELL	A	0.02%
	PAYC	B	0.02%
	VICI	C	0.02%
	AMT	C	0.02%
	PEG	A	0.02%
	O	C	0.02%
	KKR	A	0.02%
	GEV	B	0.02%
	ALLE	C	0.02%
	APA	D	0.02%
	TER	F	0.02%
	DASH	B	0.01%
	CPT	B	0.01%
	WTRG	B	0.01%
	CTLT	C	0.01%
	MGM	D	0.01%
	VRSK	A	0.01%
	RPRX	D	0.01%
	SBAC	D	0.01%
	MBAVU	C	0.01%
	RCL	A	0.01%
	HST	C	0.01%
	EL	F	0.01%
	GLPI	C	0.01%
	DVA	C	0.01%
	RPM	A	0.01%
	SUI	C	0.01%
	REG	A	0.01%
	CLX	A	0.01%
	BURL	B	0.01%
	IRM	C	0.01%
	MAS	D	0.01%
	WPC	C	0.01%
	STX	C	0.01%
	INVH	D	0.01%
	EFX	F	0.01%
	HLT	A	0.01%
	ESS	B	0.01%
	BEN	C	0.01%
	FTNT	C	0.01%
	COIN	C	0.01%
	DOC	C	0.01%
	AES	F	0.01%
	CCEP	C	0.01%
	HWM	A	0.01%
	BXP	C	0.01%
	MAA	B	0.01%
	CHRD	D	0.01%
	AGCO	D	0.01%
	ARE	F	0.01%
	TDG	D	0.01%
	AWK	C	0.01%
	CPAY	A	0.01%
	WFG	C	0.01%
	ABNB	C	0.01%
	SE	A	0.01%
	VTR	B	0.01%
	BSY	F	0.01%
	NI	A	0.01%
	KIM	A	0.01%
	ALB	B	0.01%
	EXPE	B	0.01%
	EQR	C	0.01%
	EQH	C	0.01%
	AVB	B	0.01%
	MAR	A	0.01%
	UBER	F	0.01%
	CNP	A	0.01%
	DELL	B	0.01%
	EVRG	A	0.01%
	VST	A	0.01%
	CHRW	B	0.01%
	ATO	A	0.01%
	MELI	C	0.01%
	BA	F	0.01%
	FE	C	0.01%
	EXR	C	0.01%
	ECL	D	0.01%
	NOW	A	0.01%
	CCI	C	0.01%
	ES	C	0.01%
	SMCI	F	0.01%
	PPL	A	0.01%
	PARA	C	0.01%
	ENPH	F	0.01%
	GLBE	B	0.0%
	IOT	A	0.0%
	NET	B	0.0%
	RBLX	C	0.0%
	XRX	F	0.0%
	DDOG	A	0.0%
	DKNG	B	0.0%
	TOST	B	0.0%
	SNAP	D	0.0%
	PSTG	D	0.0%
	FUTU	D	0.0%
	HEI	A	0.0%
	PINS	F	0.0%
	DT	D	0.0%
	DAY	B	0.0%
	SNOW	B	0.0%
	DOCU	B	0.0%
	EXAS	D	0.0%
	PODD	C	0.0%
	GRAB	A	0.0%
	TECH	F	0.0%
	ROKU	D	0.0%
	WYNN	C	0.0%
	DXCM	C	0.0%
	CRWD	B	0.0%
	MSTR	B	0.0%
	TYL	B	0.0%
	LII	A	0.0%
	TTD	B	0.0%
	ELS	C	0.0%
	TW	A	0.0%
	HEI	A	0.0%
	RIVN	F	0.0%
	MTCH	D	0.0%
	LYV	A	0.0%
	QGEN	D	0.0%
	LW	C	0.0%
	VRT	B	0.0%
	APP	B	0.0%
	BBWI	C	0.0%
	MSCI	C	0.0%
	AXON	A	0.0%
	LVS	B	0.0%
	BIO	C	0.0%
	UDR	B	0.0%
	OTEX	F	0.0%
	ANSS	B	0.0%
	AMH	C	0.0%
	PLTR	B	0.0%
	ARES	A	0.0%

QWLD Underweight 46 Positions Relative to DFLV

	Symbol	Grade	Weight
	UAL	A	-0.37%
	DOX	D	-0.33%
	USFD	A	-0.2%
	TOL	B	-0.15%
	FLEX	B	-0.11%
	THC	D	-0.1%
	BWA	D	-0.1%
	CASY	A	-0.09%
	PFGC	B	-0.08%
	JLL	D	-0.07%
	GL	C	-0.06%
	DAR	C	-0.04%
	RNR	C	-0.04%
	CLH	C	-0.04%
	GFS	C	-0.03%
	ICLR	D	-0.03%
	EWBC	A	-0.03%
	RGA	A	-0.03%
	NWS	A	-0.02%
	BLD	D	-0.02%
	PR	B	-0.02%
	ARMK	B	-0.02%
	IVZ	B	-0.01%
	SNX	D	-0.01%
	LEA	F	-0.01%
	WBS	A	-0.01%
	SIRI	C	-0.01%
	FTRE	D	-0.01%
	MHK	D	-0.01%
	PAG	B	-0.01%
	AR	B	-0.01%
	NVT	B	-0.01%
	ZG	A	-0.0%
	CNA	C	-0.0%
	ST	F	-0.0%
	GNTX	C	-0.0%
	ARW	D	-0.0%
	GXO	B	-0.0%
	MTDR	B	-0.0%
	CW	C	-0.0%
	HAS	D	-0.0%
	COTY	F	-0.0%
	TPR	B	-0.0%
	ALV	C	-0.0%
	CZR	F	-0.0%
	UNM	A	-0.0%

QWLD: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Utilities - Regulated Electric Business Services Diagnostics & Research Asset Management Semiconductors Capital Markets Oil & Gas E&P Software - Infrastructure Specialty Retail Aerospace & Defense Banks - Regional - US Drug Manufacturers - Major REIT - Residential Specialty Chemicals Biotechnology Insurance - Property & Casualty Packaged Foods Banks - Global

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

DFLV: Top Represented Industries & Keywords

Industries: Diversified Industrials Oil & Gas E&P Banks - Regional - US Diagnostics & Research Insurance - Property & Casualty Asset Management Semiconductors Health Care Plans Packaged Foods Auto Parts Biotechnology Drug Manufacturers - Major Insurance - Life Medical Devices Packaging & Containers Scientific & Technical Instruments Specialty Chemicals Aerospace & Defense Banks - Global Building Materials

Keywords: S&P 500 Nasdaq 100 Insurance Natural Gas Bank Aerospace Insurance Products Banking Electronics Medicine Chemical Computing Petroleum Industry Mining Semiconductor Telecommunications Beverage Dow Jones Component Investment Bank Cash Management