QWLD vs. JPUS ETF Comparison

Comparison of SPDR MSCI World Quality Mix ETF (QWLD) to JPMorgan Diversified Return U.S. Equity ETF (JPUS)

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

$128.25

Average Daily Volume

4,874

Number of Holdings ^*

605

* may have additional holdings in another (foreign) market

JPUS

JPMorgan Diversified Return U.S. Equity ETF

JPUS Description

The investment seeks investment results that closely correspond, before fees and expenses, to the performance of the Russell 1000 Diversified Factor Index. The fund will invest at least 80% of its assets in securities included in the underlying index. The underlying index is comprised of U.S. equity securities selected to represent a diversified set of factor characteristics, originally developed by the adviser. Holdings in the underlying index are selected by the index provider primarily from the constituents of the Russell 1000 Index, a larger Russell index, which is comprised of large- and mid-cap equity securities in the United States.

Grade (RS Rating)

Last Trade

$119.21

Average Daily Volume

7,891

Number of Holdings ^*

354

* may have additional holdings in another (foreign) market

Performance

Period	QWLD	JPUS
30 Days	1.92%	3.61%
60 Days	4.80%	6.37%
90 Days	6.62%	8.24%
12 Months	25.18%	24.93%

256 Overlapping Holdings

	Symbol	Grade	Weight in QWLD	Weight in JPUS	Overlap
	AAPL	C	2.56%	0.36%	0.36%
	ABBV	C	0.41%	0.38%	0.38%
	ABBV	C	0.15%	0.38%	0.15%
	ABT	C	0.09%	0.34%	0.09%
	ACGL	C	0.28%	0.35%	0.28%
	ACI	F	0.02%	0.31%	0.02%
	ACN	C	0.65%	0.33%	0.33%
	ADBE	F	0.49%	0.06%	0.06%
	ADI	C	0.04%	0.36%	0.04%
	ADM	D	0.05%	0.37%	0.05%
	AEE	C	0.08%	0.01%	0.01%
	AFG	B	0.02%	0.06%	0.02%
	AFL	C	0.12%	0.4%	0.12%
	ALLY	F	0.01%	0.21%	0.01%
	AMAT	D	0.32%	0.29%	0.29%
	AME	C	0.01%	0.23%	0.01%
	AMGN	B	0.19%	0.41%	0.19%
	AMP	A	0.07%	0.23%	0.07%
	ANET	B	0.18%	0.4%	0.18%
	AOS	D	0.02%	0.32%	0.02%
	APH	D	0.38%	0.35%	0.35%
	APO	C	0.01%	0.16%	0.01%
	ATO	B	0.01%	0.15%	0.01%
	AVB	B	0.01%	0.34%	0.01%
	AVGO	C	0.11%	0.33%	0.11%
	AVY	C	0.03%	0.16%	0.03%
	AZO	D	0.29%	0.36%	0.29%
	BAC	D	0.33%	0.26%	0.26%
	BAH	C	0.15%	0.33%	0.15%
	BBY	C	0.06%	0.26%	0.06%
	BDX	D	0.08%	0.2%	0.08%
	BG	D	0.03%	0.35%	0.03%
	BKNG	C	0.02%	0.14%	0.02%
	BLDR	C	0.04%	0.34%	0.04%
	BMY	C	0.18%	0.22%	0.18%
	BRK.A	C	0.71%	0.41%	0.41%
	CAG	C	0.05%	0.42%	0.05%
	CAH	C	0.12%	0.35%	0.12%
	CARR	B	0.02%	0.09%	0.02%
	CAT	B	0.32%	0.24%	0.24%
	CB	B	0.4%	0.29%	0.29%
	CBOE	C	0.26%	0.3%	0.26%
	CBRE	A	0.03%	0.05%	0.03%
	CCI	C	0.02%	0.2%	0.02%
	CDNS	D	0.12%	0.28%	0.12%
	CE	F	0.01%	0.32%	0.01%
	CEG	C	0.01%	0.33%	0.01%
	CF	C	0.12%	0.3%	0.12%
	CFG	C	0.03%	0.06%	0.03%
	CHD	D	0.18%	0.36%	0.18%
	CHK	D	0.02%	0.09%	0.02%
	CHTR	D	0.05%	0.34%	0.05%
	CI	C	0.2%	0.4%	0.2%
	CL	D	0.23%	0.42%	0.23%
	CLX	C	0.01%	0.39%	0.01%
	CMCSA	D	0.15%	0.39%	0.15%
	CMI	C	0.08%	0.34%	0.08%
	CMS	C	0.05%	0.3%	0.05%
	CNP	C	0.01%	0.3%	0.01%
	COF	B	0.07%	0.34%	0.07%
	COP	D	0.09%	0.25%	0.09%
	CPB	C	0.1%	0.42%	0.1%
	CPT	B	0.01%	0.18%	0.01%
	CSCO	C	0.88%	0.35%	0.35%
	CSGP	D	0.0%	0.08%	0.0%
	CSL	B	0.03%	0.15%	0.03%
	CSX	D	0.11%	0.13%	0.11%
	CTRA	D	0.02%	0.31%	0.02%
	CTSH	C	0.2%	0.37%	0.2%
	CTVA	B	0.04%	0.3%	0.04%
	CVS	D	0.17%	0.27%	0.17%
	CVX	D	0.28%	0.3%	0.28%
	D	C	0.06%	0.37%	0.06%
	DFS	B	0.03%	0.1%	0.03%
	DGX	B	0.1%	0.36%	0.1%
	DHI	B	0.12%	0.46%	0.12%
	DHR	B	0.06%	0.33%	0.06%
	DINO	F	0.05%	0.24%	0.05%
	DKS	D	0.02%	0.36%	0.02%
	DOW	D	0.04%	0.29%	0.04%
	DRI	B	0.03%	0.24%	0.03%
	DTE	C	0.02%	0.33%	0.02%
	DUK	C	0.37%	0.35%	0.35%
	DVA	B	0.01%	0.4%	0.01%
	EA	D	0.18%	0.16%	0.16%
	ECL	B	0.01%	0.29%	0.01%
	ED	C	0.38%	0.4%	0.38%
	EG	C	0.06%	0.3%	0.06%
	EIX	C	0.03%	0.43%	0.03%
	ELV	C	0.28%	0.36%	0.28%
	EMN	B	0.01%	0.28%	0.01%
	EOG	D	0.05%	0.27%	0.05%
	EQIX	C	0.01%	0.33%	0.01%
	EQR	B	0.01%	0.23%	0.01%
	EQT	D	0.01%	0.26%	0.01%
	ESS	B	0.01%	0.4%	0.01%
	ETN	C	0.02%	0.36%	0.02%
	ETR	B	0.02%	0.43%	0.02%
	EVRG	B	0.01%	0.36%	0.01%
	EXC	C	0.03%	0.35%	0.03%
	F	F	0.09%	0.18%	0.09%
	FANG	D	0.08%	0.3%	0.08%
	FAST	C	0.08%	0.34%	0.08%
	FCNCA	D	0.09%	0.42%	0.09%
	FCX	D	0.02%	0.23%	0.02%
	FE	C	0.01%	0.39%	0.01%
	FITB	B	0.03%	0.27%	0.03%
	FNF	B	0.01%	0.36%	0.01%
	GD	B	0.19%	0.38%	0.19%
	GEHC	C	0.02%	0.24%	0.02%
	GILD	B	0.22%	0.33%	0.22%
	GIS	B	0.38%	0.4%	0.38%
	GLPI	C	0.01%	0.38%	0.01%
	GOOGL	D	0.95%	0.1%	0.1%
	GRMN	D	0.05%	0.4%	0.05%
	GWW	B	0.1%	0.38%	0.1%
	HBAN	B	0.03%	0.27%	0.03%
	HCA	B	0.04%	0.43%	0.04%
	HIG	B	0.03%	0.43%	0.03%
	HOLX	B	0.01%	0.31%	0.01%
	HPE	D	0.03%	0.23%	0.03%
	HRL	C	0.1%	0.29%	0.1%
	HST	C	0.01%	0.36%	0.01%
	HUBB	B	0.03%	0.31%	0.03%
	HUM	F	0.18%	0.04%	0.04%
	IBM	B	0.48%	0.11%	0.11%
	INTU	C	0.25%	0.34%	0.25%
	IP	B	0.02%	0.34%	0.02%
	IPG	C	0.02%	0.15%	0.02%
	IRM	C	0.01%	0.48%	0.01%
	IT	B	0.03%	0.31%	0.03%
	ITW	C	0.12%	0.31%	0.12%
	JNPR	B	0.13%	0.41%	0.13%
	K	B	0.23%	0.52%	0.23%
	KDP	B	0.16%	0.19%	0.16%
	KEY	B	0.02%	0.05%	0.02%
	KHC	C	0.22%	0.41%	0.22%
	KIM	C	0.01%	0.34%	0.01%
	KLAC	D	0.18%	0.33%	0.18%
	KMB	D	0.12%	0.38%	0.12%
	KMI	B	0.03%	0.33%	0.03%
	KO	C	0.65%	0.43%	0.43%
	KR	C	0.28%	0.41%	0.28%
	KVUE	C	0.08%	0.41%	0.08%
	LEN	B	0.09%	0.42%	0.09%
	LIN	B	0.06%	0.28%	0.06%
	LLY	C	1.42%	0.4%	0.4%
	LMT	C	0.45%	0.42%	0.42%
	LNG	C	0.05%	0.3%	0.05%
	LOW	B	0.07%	0.35%	0.07%
	LRCX	F	0.2%	0.25%	0.2%
	LW	D	0.0%	0.01%	0.0%
	LYB	D	0.03%	0.36%	0.03%
	MAA	B	0.01%	0.23%	0.01%
	MAS	B	0.01%	0.3%	0.01%
	MCK	F	0.49%	0.32%	0.32%
	MDLZ	B	0.17%	0.42%	0.17%
	MDT	C	0.06%	0.26%	0.06%
	META	B	1.96%	0.39%	0.39%
	MMC	C	0.53%	0.38%	0.38%
	MNST	D	0.06%	0.33%	0.06%
	MO	C	0.04%	0.44%	0.04%
	MOH	D	0.07%	0.16%	0.07%
	MOS	F	0.02%	0.15%	0.02%
	MPC	F	0.18%	0.35%	0.18%
	MRK	D	0.51%	0.32%	0.32%
	MRO	C	0.02%	0.28%	0.02%
	MSFT	C	2.36%	0.35%	0.35%
	MSI	B	0.58%	0.44%	0.44%
	NEM	B	0.04%	0.23%	0.04%
	NI	B	0.01%	0.42%	0.01%
	NKE	D	0.17%	0.07%	0.07%
	NTAP	D	0.04%	0.31%	0.04%
	NUE	F	0.04%	0.28%	0.04%
	NVDA	D	2.1%	0.34%	0.34%
	NVR	B	0.07%	0.44%	0.07%
	OC	D	0.03%	0.28%	0.03%
	ORCL	C	0.22%	0.38%	0.22%
	ORLY	C	0.22%	0.36%	0.22%
	OTIS	C	0.01%	0.07%	0.01%
	OXY	F	0.03%	0.09%	0.03%
	PCAR	D	0.09%	0.05%	0.05%
	PCG	C	0.03%	0.38%	0.03%
	PEG	B	0.02%	0.43%	0.02%
	PEP	C	0.86%	0.4%	0.4%
	PFE	C	0.21%	0.23%	0.21%
	PFG	B	0.02%	0.1%	0.02%
	PG	C	0.98%	0.39%	0.39%
	PGR	B	0.34%	0.46%	0.34%
	PH	B	0.02%	0.33%	0.02%
	PHM	B	0.06%	0.44%	0.06%
	PKG	B	0.03%	0.27%	0.03%
	PLD	C	0.05%	0.21%	0.05%
	PM	C	0.07%	0.46%	0.07%
	PPL	C	0.01%	0.42%	0.01%
	PRU	C	0.04%	0.09%	0.04%
	PSA	B	0.09%	0.39%	0.09%
	PSX	F	0.13%	0.33%	0.13%
	PWR	B	0.01%	0.37%	0.01%
	QCOM	D	0.34%	0.21%	0.21%
	REG	C	0.01%	0.41%	0.01%
	REGN	C	0.47%	0.41%	0.41%
	RF	B	0.03%	0.08%	0.03%
	ROKU	C	0.0%	0.38%	0.0%
	ROST	C	0.02%	0.26%	0.02%
	RPM	B	0.01%	0.26%	0.01%
	RS	D	0.01%	0.34%	0.01%
	RSG	D	0.46%	0.4%	0.4%
	SJM	C	0.08%	0.25%	0.08%
	SO	B	0.47%	0.42%	0.42%
	SPG	B	0.02%	0.41%	0.02%
	SRE	C	0.03%	0.36%	0.03%
	SSNC	B	0.01%	0.04%	0.01%
	STE	C	0.01%	0.29%	0.01%
	STLD	F	0.02%	0.3%	0.02%
	STT	A	0.03%	0.12%	0.03%
	STZ	D	0.01%	0.36%	0.01%
	SWKS	D	0.03%	0.16%	0.03%
	SYF	C	0.03%	0.37%	0.03%
	SYK	C	0.03%	0.29%	0.03%
	SYY	D	0.03%	0.41%	0.03%
	T	C	0.37%	0.46%	0.37%
	TAP	D	0.01%	0.41%	0.01%
	TGT	C	0.14%	0.24%	0.14%
	TJX	B	0.35%	0.35%	0.35%
	TMO	B	0.07%	0.18%	0.07%
	TMUS	C	0.64%	0.43%	0.43%
	TRGP	B	0.03%	0.46%	0.03%
	TSCO	C	0.05%	0.37%	0.05%
	TSN	C	0.14%	0.3%	0.14%
	UHS	B	0.01%	0.43%	0.01%
	UNH	C	1.36%	0.37%	0.37%
	UNP	C	0.28%	0.3%	0.28%
	USB	B	0.08%	0.1%	0.08%
	UTHR	C	0.14%	0.37%	0.14%
	VICI	C	0.02%	0.37%	0.02%
	VLO	F	0.07%	0.32%	0.07%
	VLTO	C	0.05%	0.04%	0.04%
	VRTX	D	0.44%	0.37%	0.37%
	VST	C	0.01%	0.34%	0.01%
	VTR	C	0.01%	0.27%	0.01%
	VTRS	D	0.03%	0.22%	0.03%
	VZ	B	0.61%	0.41%	0.41%
	WEC	C	0.2%	0.36%	0.2%
	WELL	C	0.02%	0.42%	0.02%
	WLK	D	0.0%	0.34%	0.0%
	WM	D	0.5%	0.38%	0.38%
	WMB	B	0.15%	0.34%	0.15%
	WPC	C	0.01%	0.26%	0.01%
	WRB	C	0.14%	0.12%	0.12%
	WSM	D	0.04%	0.34%	0.04%
	WST	D	0.03%	0.24%	0.03%
	WY	C	0.02%	0.34%	0.02%
	XEL	B	0.08%	0.37%	0.08%
	XOM	C	0.44%	0.38%	0.38%
	ZTS	C	0.16%	0.32%	0.16%

QWLD Overweight 349 Positions Relative to JPUS

	Symbol	Grade	Weight
	JNJ	C	1.19%
	V	C	1.12%
	NVS	C	0.89%
	GOOG	D	0.83%
	COST	B	0.76%
	WMT	C	0.72%
	MA	B	0.67%
	JPM	D	0.52%
	ROP	C	0.49%
	TXN	C	0.49%
	NFLX	B	0.45%
	MCD	B	0.42%
	AMZN	C	0.34%
	NOC	B	0.33%
	UL	C	0.3%
	GE	B	0.29%
	WCN	D	0.28%
	TRV	C	0.27%
	HON	D	0.24%
	ISRG	B	0.24%
	ADP	B	0.24%
	GDDY	C	0.21%
	C	C	0.21%
	BLK	B	0.21%
	MFG	D	0.2%
	WFC	D	0.2%
	CHKP	B	0.19%
	AJG	D	0.19%
	HSY	C	0.18%
	KEYS	C	0.17%
	CME	C	0.16%
	AON	B	0.16%
	L	C	0.16%
	PANW	D	0.16%
	GM	C	0.15%
	YUM	D	0.15%
	ERIE	B	0.15%
	CTAS	B	0.14%
	TD	B	0.14%
	FFIV	B	0.14%
	HD	B	0.14%
	SHW	B	0.14%
	GS	C	0.14%
	VRSN	D	0.14%
	MMM	B	0.14%
	TM	F	0.14%
	E	C	0.13%
	BRO	C	0.13%
	CMG	C	0.13%
	MCO	B	0.13%
	TT	B	0.13%
	MKL	C	0.12%
	DEO	C	0.12%
	INCY	C	0.12%
	MUFG	D	0.12%
	AKAM	D	0.12%
	CNI	D	0.11%
	NBIX	F	0.11%
	SNPS	D	0.11%
	TSLA	C	0.11%
	BCS	B	0.1%
	IDXX	C	0.09%
	CDW	D	0.09%
	MS	D	0.09%
	RTX	C	0.09%
	SMFG	D	0.09%
	STLA	F	0.09%
	LYG	B	0.09%
	PAYX	C	0.09%
	BMRN	F	0.09%
	HMC	D	0.08%
	TFC	C	0.08%
	ROL	C	0.08%
	PNC	B	0.08%
	SONY	C	0.08%
	AMCR	B	0.08%
	INTC	F	0.08%
	TEL	D	0.08%
	ADSK	C	0.08%
	ULTA	D	0.07%
	UPS	D	0.07%
	AIG	D	0.07%
	A	C	0.07%
	WTW	C	0.07%
	CPRT	D	0.07%
	ODFL	D	0.07%
	PTC	D	0.07%
	MCHP	F	0.07%
	FDX	C	0.07%
	EW	F	0.07%
	AIZ	B	0.07%
	ALL	B	0.07%
	AEP	C	0.07%
	DIS	D	0.07%
	DPZ	F	0.06%
	AXP	B	0.06%
	RMD	C	0.06%
	GPC	D	0.06%
	LULU	D	0.06%
	CNC	D	0.06%
	NEE	C	0.06%
	DE	B	0.06%
	MPWR	C	0.06%
	JKHY	B	0.06%
	LOGI	D	0.06%
	BK	B	0.05%
	TROW	D	0.05%
	VEEV	C	0.05%
	WBD	D	0.05%
	BTI	C	0.05%
	TDY	B	0.05%
	ROK	D	0.05%
	MTB	B	0.04%
	PYPL	B	0.04%
	WAT	C	0.04%
	MU	F	0.04%
	SBUX	C	0.04%
	MANH	B	0.04%
	SPGI	B	0.04%
	EXPD	C	0.04%
	WBA	F	0.04%
	HPQ	D	0.04%
	AMD	D	0.04%
	FICO	B	0.04%
	BR	D	0.04%
	DOV	B	0.04%
	OMC	B	0.04%
	WDAY	D	0.04%
	MT	D	0.04%
	DECK	C	0.04%
	MET	B	0.04%
	CRM	D	0.04%
	O	C	0.03%
	OKE	B	0.03%
	JBHT	D	0.03%
	APA	F	0.03%
	DVN	F	0.03%
	POOL	C	0.03%
	NSC	C	0.03%
	LNT	B	0.03%
	AMT	C	0.03%
	SLB	F	0.03%
	ENPH	D	0.03%
	SNA	C	0.03%
	WSO	C	0.03%
	ICE	C	0.03%
	SOLV	C	0.03%
	LPLA	D	0.03%
	TER	D	0.03%
	SCHW	D	0.03%
	TPL	B	0.03%
	SMCI	F	0.03%
	EME	B	0.03%
	NMR	D	0.02%
	GEV	B	0.02%
	MKTX	C	0.02%
	PAYC	D	0.02%
	BA	F	0.02%
	TTC	D	0.02%
	BIIB	F	0.02%
	ES	C	0.02%
	OVV	F	0.02%
	BAX	C	0.02%
	CINF	B	0.02%
	MRNA	F	0.02%
	NXPI	F	0.02%
	AER	B	0.02%
	DLR	B	0.02%
	FIS	B	0.02%
	BKR	C	0.02%
	KKR	B	0.02%
	URI	B	0.02%
	EPAM	F	0.02%
	GLW	C	0.02%
	NDSN	C	0.02%
	GPN	D	0.02%
	BX	B	0.02%
	DD	B	0.02%
	BSX	B	0.02%
	ALLE	B	0.02%
	EMR	D	0.02%
	LHX	C	0.02%
	IEX	D	0.02%
	SW	B	0.02%
	PNR	B	0.02%
	APD	B	0.02%
	GGG	C	0.02%
	JCI	B	0.02%
	FDS	C	0.02%
	MGM	F	0.01%
	AMH	C	0.01%
	VRSK	D	0.01%
	OTEX	D	0.01%
	WTRG	D	0.01%
	CTLT	B	0.01%
	UHAL	A	0.01%
	FOX	B	0.01%
	DAL	C	0.01%
	TFX	C	0.01%
	CG	D	0.01%
	TTWO	C	0.01%
	NWSA	D	0.01%
	RPRX	C	0.01%
	FTNT	C	0.01%
	SBAC	C	0.01%
	HLT	B	0.01%
	TRU	B	0.01%
	BURL	B	0.01%
	MBAVU	C	0.01%
	BEN	F	0.01%
	FSLR	C	0.01%
	HWM	B	0.01%
	ZM	C	0.01%
	ACM	B	0.01%
	HSIC	C	0.01%
	SUI	B	0.01%
	QRVO	F	0.01%
	SE	B	0.01%
	ZBRA	B	0.01%
	STX	C	0.01%
	EL	F	0.01%
	INVH	C	0.01%
	EXPE	C	0.01%
	CPAY	B	0.01%
	BXP	B	0.01%
	HII	D	0.01%
	MKC	C	0.01%
	DOC	C	0.01%
	CCEP	B	0.01%
	AVTR	B	0.01%
	CCK	A	0.01%
	ABNB	D	0.01%
	IR	C	0.01%
	XYL	C	0.01%
	EFX	B	0.01%
	AGCO	D	0.01%
	CHRD	F	0.01%
	VMC	D	0.01%
	KNX	C	0.01%
	WFG	B	0.01%
	FTV	C	0.01%
	MLM	D	0.01%
	EQH	C	0.01%
	MRVL	C	0.01%
	LDOS	B	0.01%
	ALB	D	0.01%
	NDAQ	A	0.01%
	TDG	B	0.01%
	DLTR	F	0.01%
	LKQ	F	0.01%
	AES	C	0.01%
	BALL	C	0.01%
	WDC	D	0.01%
	MAR	C	0.01%
	ARE	C	0.01%
	DELL	D	0.01%
	AWK	B	0.01%
	TXT	D	0.01%
	CRBG	D	0.01%
	WAB	B	0.01%
	HES	F	0.01%
	FOXA	B	0.01%
	BSY	D	0.01%
	EBAY	B	0.01%
	ZBH	F	0.01%
	CHRW	B	0.01%
	J	C	0.01%
	UBER	C	0.01%
	SQ	D	0.01%
	IFF	B	0.01%
	NOW	B	0.01%
	JBL	D	0.01%
	NRG	C	0.01%
	DG	F	0.01%
	RJF	C	0.01%
	PARA	F	0.01%
	SEIC	C	0.01%
	CNH	D	0.01%
	NTRS	A	0.01%
	IQV	C	0.01%
	APTV	D	0.01%
	SWK	B	0.01%
	EXR	B	0.01%
	HAL	F	0.01%
	ON	D	0.01%
	KMX	D	0.01%
	PPG	D	0.01%
	MELI	B	0.01%
	GLBE	C	0.0%
	IOT	B	0.0%
	TOST	C	0.0%
	NET	D	0.0%
	RBLX	B	0.0%
	XRX	D	0.0%
	DDOG	D	0.0%
	SNAP	F	0.0%
	FUTU	D	0.0%
	DKNG	C	0.0%
	MSTR	D	0.0%
	H	C	0.0%
	PSTG	F	0.0%
	DOCU	C	0.0%
	HEI	B	0.0%
	DAY	D	0.0%
	GRAB	C	0.0%
	APP	C	0.0%
	DT	C	0.0%
	PINS	F	0.0%
	SNOW	F	0.0%
	PODD	B	0.0%
	WYNN	D	0.0%
	CRWD	D	0.0%
	HOOD	C	0.0%
	DXCM	F	0.0%
	OKTA	F	0.0%
	TECH	C	0.0%
	TTD	B	0.0%
	EXAS	C	0.0%
	LII	B	0.0%
	Z	B	0.0%
	TYL	C	0.0%
	TW	B	0.0%
	PLTR	B	0.0%
	AXON	B	0.0%
	VRT	C	0.0%
	HEI	B	0.0%
	LYV	B	0.0%
	ELS	C	0.0%
	LUV	C	0.0%
	ENTG	F	0.0%
	LVS	D	0.0%
	BBWI	F	0.0%
	DASH	C	0.0%
	COIN	F	0.0%
	RCL	B	0.0%
	MSCI	C	0.0%
	ILMN	C	0.0%
	RIVN	F	0.0%
	ARES	B	0.0%
	CRL	F	0.0%
	MTCH	C	0.0%
	QGEN	C	0.0%
	BIO	C	0.0%
	TWLO	D	0.0%
	ANSS	D	0.0%
	UDR	C	0.0%
	CCL	C	0.0%
	ALGN	D	0.0%
	TRMB	C	0.0%

QWLD Underweight 99 Positions Relative to JPUS

	Symbol	Grade	Weight
	FYBR	C	-0.51%
	HRB	C	-0.46%
	OHI	B	-0.45%
	JLL	B	-0.45%
	TOL	B	-0.45%
	USFD	B	-0.43%
	CUBE	B	-0.43%
	INGR	B	-0.43%
	PNW	C	-0.42%
	POST	C	-0.42%
	CLH	A	-0.41%
	UNM	B	-0.41%
	LAMR	B	-0.41%
	PFGC	B	-0.4%
	BRX	B	-0.38%
	CASY	D	-0.38%
	AM	C	-0.37%
	MTG	B	-0.36%
	OGE	C	-0.36%
	SCCO	D	-0.35%
	NXST	D	-0.35%
	CIEN	C	-0.33%
	NFG	B	-0.31%
	ALSN	B	-0.3%
	PAG	D	-0.3%
	ORI	B	-0.29%
	GNTX	F	-0.28%
	X	F	-0.28%
	ESI	D	-0.27%
	SPB	C	-0.27%
	OLN	D	-0.26%
	STAG	C	-0.26%
	DOX	C	-0.25%
	HUN	D	-0.25%
	UGI	C	-0.24%
	JEF	B	-0.24%
	FLO	C	-0.23%
	MSM	D	-0.23%
	SNX	D	-0.22%
	NNN	C	-0.21%
	ITT	B	-0.21%
	PK	D	-0.21%
	BPOP	C	-0.21%
	SAM	F	-0.2%
	MEDP	F	-0.2%
	TKR	D	-0.2%
	CELH	F	-0.2%
	XP	D	-0.19%
	EPR	B	-0.19%
	THC	A	-0.19%
	SCI	B	-0.18%
	EXP	B	-0.18%
	STWD	B	-0.18%
	NEU	D	-0.18%
	CLF	F	-0.17%
	CNM	F	-0.17%
	RHI	D	-0.17%
	M	F	-0.17%
	OMF	D	-0.17%
	FR	B	-0.17%
	CHE	C	-0.17%
	GAP	F	-0.17%
	RGA	C	-0.16%
	KRC	B	-0.15%
	ASH	D	-0.15%
	HIW	B	-0.15%
	R	A	-0.14%
	COKE	C	-0.13%
	WU	F	-0.13%
	CACI	B	-0.13%
	BRBR	C	-0.12%
	VIRT	C	-0.12%
	FRT	C	-0.1%
	VVV	D	-0.1%
	UI	B	-0.1%
	PPC	D	-0.09%
	SLM	D	-0.09%
	IDA	C	-0.09%
	SAIC	C	-0.09%
	LOPE	D	-0.08%
	IRDM	D	-0.07%
	EGP	B	-0.07%
	LPX	B	-0.07%
	DLB	D	-0.06%
	RRC	D	-0.05%
	DTM	B	-0.05%
	TNL	D	-0.05%
	CWEN	C	-0.05%
	AGO	C	-0.04%
	LSTR	D	-0.04%
	FTRE	D	-0.03%
	LEG	D	-0.03%
	HOG	C	-0.03%
	CRI	D	-0.03%
	LBRDK	F	-0.03%
	KSS	F	-0.01%
	SON	C	-0.01%
	CC	F	-0.01%
	GO	F	-0.01%

QWLD: Top Represented Industries & Keywords

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

JPUS: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Packaged Foods Oil & Gas E&P Specialty Chemicals Banks - Regional - US Drug Manufacturers - Major REIT - Diversified REIT - Retail Beverages - Soft Drinks Communication Equipment Credit Services Diversified Industrials Health Care Plans Household & Personal Products Information Technology Services REIT - Industrial Specialty Retail Utilities - Diversified Building Materials Chemicals

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