QWLD vs. NZAC ETF Comparison

Comparison of SPDR MSCI World Quality Mix ETF (QWLD) to SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC)

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

$123.05

Average Daily Volume

5,943

Number of Holdings ^*

611

* may have additional holdings in another (foreign) market

NZAC

SPDR MSCI ACWI Climate Paris Aligned ETF

NZAC Description

The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index is designed to exceed the minimum standards for a "Paris-Aligned Benchmark" under the EU BMR. A Paris-Aligned Benchmark is designed to align with a principal objective of the Paris Agreement to limit the increase in the global average temperature to well below 2 degrees Celsius above pre-industrial levels.

Grade (RS Rating)

Last Trade

$35.74

Average Daily Volume

3,469

Number of Holdings ^*

368

* may have additional holdings in another (foreign) market

Performance

Period	QWLD	NZAC
30 Days	3.12%	4.05%
60 Days	3.84%	6.45%
90 Days	6.82%	9.69%
12 Months	19.66%	20.83%

347 Overlapping Holdings

Symbol	Grade	Weight in QWLD	Weight in NZAC	Overlap
A	D	0.06%	0.06%	0.06%
AAPL	B	2.62%	4.61%	2.62%
ABBV	B	0.35%	0.35%	0.35%
ABBV	B	0.16%	0.35%	0.16%
ABBV	B	0.16%	0.62%	0.16%
ABBV	B	0.35%	0.62%	0.35%
ABNB	D	0.01%	0.06%	0.01%
ABT	D	0.09%	0.18%	0.09%
ACGL	D	0.25%	0.12%	0.12%
ACM	D	0.01%	0.3%	0.01%
ACN	D	0.58%	0.35%	0.35%
ADBE	C	0.49%	0.42%	0.42%
ADI	B	0.04%	0.54%	0.04%
ADP	F	0.21%	0.17%	0.17%
ADSK	C	0.08%	0.08%	0.08%
AFG	D	0.02%	0.07%	0.02%
AFL	A	0.1%	0.24%	0.1%
AIG	C	0.07%	0.15%	0.07%
AIZ	D	0.06%	0.07%	0.06%
AJG	A	0.17%	0.07%	0.07%
ALB	F	0.01%	0.01%	0.01%
ALGN	F	0.01%	0.03%	0.01%
ALL	D	0.06%	0.12%	0.06%
ALLE	C	0.02%	0.08%	0.02%
ALLY	A	0.02%	0.02%	0.02%
AMAT	C	0.43%	0.18%	0.18%
AMD	C	0.04%	0.34%	0.04%
AME	C	0.01%	0.15%	0.01%
AMGN	B	0.18%	0.24%	0.18%
AMP	B	0.07%	0.13%	0.07%
AMT	B	0.02%	0.11%	0.02%
AMZN	C	0.37%	2.42%	0.37%
ANET	C	0.19%	0.06%	0.06%
ANSS	C	0.01%	0.02%	0.01%
AON	C	0.14%	0.09%	0.09%
APH	B	0.43%	0.11%	0.11%
APO	A	0.01%	0.13%	0.01%
AVB	C	0.01%	0.11%	0.01%
AVGO	B	0.12%	1.21%	0.12%
AVTR	D	0.01%	0.03%	0.01%
AXON	D	0.0%	0.03%	0.0%
AXP	B	0.05%	0.31%	0.05%
AZO	C	0.27%	0.09%	0.09%
BAC	A	0.35%	0.4%	0.35%
BAH	B	0.16%	0.03%	0.03%
BAX	D	0.01%	0.02%	0.01%
BBWI	F	0.01%	0.01%	0.01%
BCS	A	0.1%	0.04%	0.04%
BDX	F	0.08%	0.12%	0.08%
BIIB	C	0.02%	0.05%	0.02%
BIO	D	0.0%	0.01%	0.0%
BK	A	0.04%	0.1%	0.04%
BKNG	C	0.02%	0.19%	0.02%
BLK	B	0.2%	0.22%	0.2%
BMRN	C	0.09%	0.02%	0.02%
BMY	F	0.16%	0.18%	0.16%
BR	B	0.04%	0.08%	0.04%
BRK.A	C	0.65%	0.35%	0.35%
BRO	B	0.12%	0.05%	0.05%
BSX	B	0.02%	0.28%	0.02%
BURL	A	0.01%	0.03%	0.01%
BX	B	0.02%	0.14%	0.02%
BXP	B	0.01%	0.06%	0.01%
C	B	0.24%	0.01%	0.01%
CARR	B	0.02%	0.03%	0.02%
CB	D	0.36%	0.22%	0.22%
CBOE	F	0.21%	0.03%	0.03%
CBRE	B	0.02%	0.13%	0.02%
CCEP	C	0.01%	0.03%	0.01%
CCI	C	0.01%	0.07%	0.01%
CDW	D	0.09%	0.17%	0.09%
CEG	C	0.02%	0.04%	0.02%
CG	C	0.01%	0.01%	0.01%
CHD	D	0.19%	0.1%	0.1%
CHTR	D	0.04%	0.06%	0.04%
CINF	B	0.01%	0.05%	0.01%
CLX	D	0.01%	0.01%	0.01%
CMCSA	F	0.15%	0.24%	0.15%
CME	D	0.14%	0.11%	0.11%
CMG	D	0.13%	0.08%	0.08%
COF	C	0.08%	0.11%	0.08%
COIN	D	0.01%	0.03%	0.01%
CPAY	C	0.01%	0.03%	0.01%
CPRT	B	0.08%	0.04%	0.04%
CRM	F	0.05%	0.35%	0.05%
CRWD	C	0.0%	0.02%	0.0%
CSCO	D	0.87%	0.35%	0.35%
CSGP	F	0.0%	0.03%	0.0%
CSX	C	0.11%	0.09%	0.09%
CTAS	B	0.11%	0.03%	0.03%
CTLT	B	0.01%	0.02%	0.01%
CTSH	C	0.19%	0.07%	0.07%
CZR	D	0.01%	0.01%	0.01%
DASH	F	0.0%	0.01%	0.0%
DE	F	0.06%	0.13%	0.06%
DEO	F	0.13%	0.12%	0.12%
DFS	B	0.03%	0.07%	0.03%
DGX	B	0.1%	0.02%	0.02%
DHI	C	0.09%	0.05%	0.05%
DHR	D	0.05%	0.21%	0.05%
DIS	F	0.09%	0.26%	0.09%
DLR	B	0.02%	0.35%	0.02%
DLTR	F	0.02%	0.04%	0.02%
DOC	B	0.01%	0.01%	0.01%
DOCU	D	0.0%	0.01%	0.0%
DXCM	D	0.0%	0.06%	0.0%
EA	B	0.17%	0.01%	0.01%
EBAY	B	0.01%	0.12%	0.01%
ECL	A	0.01%	0.06%	0.01%
EFX	C	0.01%	0.03%	0.01%
EG	C	0.06%	0.03%	0.03%
EIX	C	0.02%	0.73%	0.02%
EL	F	0.01%	0.06%	0.01%
ELV	C	0.28%	0.24%	0.24%
ENPH	F	0.03%	0.09%	0.03%
EPAM	F	0.02%	0.01%	0.01%
EQH	A	0.01%	0.09%	0.01%
EQIX	C	0.01%	0.28%	0.01%
EQR	C	0.01%	0.07%	0.01%
ERIE	D	0.11%	0.03%	0.03%
ESS	B	0.01%	0.09%	0.01%
ETN	C	0.03%	0.27%	0.03%
ETSY	F	0.0%	0.02%	0.0%
EW	B	0.1%	0.15%	0.1%
EXAS	F	0.0%	0.01%	0.0%
EXR	B	0.01%	0.04%	0.01%
FAST	D	0.07%	0.14%	0.07%
FDS	D	0.02%	0.01%	0.01%
FFIV	C	0.12%	0.14%	0.12%
FIS	C	0.02%	0.06%	0.02%
FOX	A	0.0%	0.03%	0.0%
FOXA	A	0.01%	0.03%	0.01%
FSLR	D	0.01%	0.21%	0.01%
FTNT	D	0.0%	0.06%	0.0%
FTV	D	0.01%	0.1%	0.01%
GDDY	C	0.2%	0.03%	0.03%
GILD	C	0.19%	0.05%	0.05%
GIS	D	0.33%	0.09%	0.09%
GLW	B	0.02%	0.17%	0.02%
GOOG	C	1.04%	1.63%	1.04%
GOOGL	C	1.18%	1.16%	1.16%
GPN	F	0.02%	0.04%	0.02%
GRMN	C	0.04%	0.06%	0.04%
GS	A	0.14%	0.05%	0.05%
GWW	D	0.09%	0.17%	0.09%
HBAN	C	0.02%	0.01%	0.01%
HD	C	0.13%	0.5%	0.13%
HEI	B	0.0%	0.02%	0.0%
HEI	B	0.0%	0.02%	0.0%
HIG	C	0.02%	0.11%	0.02%
HLT	B	0.01%	0.02%	0.01%
HOLX	B	0.01%	0.05%	0.01%
HPE	B	0.04%	0.16%	0.04%
HSIC	D	0.01%	0.05%	0.01%
HSY	D	0.17%	0.06%	0.06%
HUM	D	0.21%	0.09%	0.09%
IBM	C	0.41%	0.53%	0.41%
ICE	A	0.03%	0.12%	0.03%
IDXX	D	0.08%	0.08%	0.08%
IEX	D	0.02%	0.04%	0.02%
ILMN	D	0.0%	0.03%	0.0%
INCY	B	0.12%	0.01%	0.01%
INTC	D	0.13%	0.24%	0.13%
INTU	C	0.26%	0.31%	0.26%
IPG	F	0.02%	0.01%	0.01%
IQV	D	0.01%	0.12%	0.01%
IRM	B	0.01%	0.05%	0.01%
ISRG	B	0.21%	0.26%	0.21%
IT	C	0.03%	0.03%	0.03%
ITW	D	0.12%	0.3%	0.12%
JKHY	D	0.06%	0.01%	0.01%
JNJ	D	1.08%	0.61%	0.61%
JNPR	B	0.12%	0.14%	0.12%
JPM	B	0.54%	0.97%	0.54%
KDP	D	0.15%	0.08%	0.08%
KEYS	D	0.16%	0.06%	0.06%
KKR	B	0.02%	0.1%	0.02%
KLAC	B	0.21%	0.21%	0.21%
KVUE	F	0.06%	0.01%	0.01%
LEN	C	0.08%	0.05%	0.05%
LIN	C	0.06%	0.08%	0.06%
LKQ	D	0.01%	0.03%	0.01%
LLY	B	1.42%	1.18%	1.18%
LOW	C	0.06%	0.21%	0.06%
LRCX	C	0.29%	0.16%	0.16%
LULU	F	0.07%	0.08%	0.07%
LYG	A	0.09%	0.02%	0.02%
LYV	C	0.0%	0.04%	0.0%
MA	D	0.63%	0.58%	0.58%
MAR	C	0.01%	0.02%	0.01%
MAS	C	0.01%	0.01%	0.01%
MCD	D	0.37%	0.32%	0.32%
MCO	A	0.12%	0.21%	0.12%
MDT	D	0.05%	0.21%	0.05%
MET	C	0.04%	0.19%	0.04%
META	C	1.99%	1.56%	1.56%
MKC	C	0.01%	0.01%	0.01%
MKL	D	0.12%	0.07%	0.07%
MKTX	D	0.01%	0.01%	0.01%
MMC	A	0.51%	0.2%	0.2%
MMM	B	0.11%	0.02%	0.02%
MNST	D	0.06%	0.03%	0.03%
MOH	F	0.06%	0.02%	0.02%
MRK	C	0.57%	0.64%	0.57%
MRNA	D	0.02%	0.04%	0.02%
MRVL	C	0.01%	0.11%	0.01%
MS	A	0.09%	0.21%	0.09%
MSFT	C	2.63%	4.69%	2.63%
MSI	B	0.53%	0.22%	0.22%
MTB	A	0.03%	0.07%	0.03%
MTCH	D	0.0%	0.01%	0.0%
MU	C	0.06%	0.13%	0.06%
MUFG	B	0.14%	0.08%	0.08%
NBIX	B	0.13%	0.02%	0.02%
NDAQ	B	0.01%	0.03%	0.01%
NEM	A	0.04%	0.09%	0.04%
NFLX	C	0.47%	0.42%	0.42%
NKE	F	0.17%	0.12%	0.12%
NOW	C	0.01%	0.32%	0.01%
NSC	D	0.02%	0.03%	0.02%
NTAP	B	0.05%	0.07%	0.05%
NTRS	B	0.01%	0.04%	0.01%
NVDA	C	2.36%	4.42%	2.36%
NVR	B	0.04%	0.03%	0.03%
NVS	B	0.85%	0.44%	0.44%
NXPI	B	0.02%	0.01%	0.01%
O	C	0.02%	0.06%	0.02%
ODFL	C	0.07%	0.02%	0.02%
OMC	C	0.04%	0.03%	0.03%
ORCL	B	0.21%	0.49%	0.21%
ORLY	C	0.21%	0.16%	0.16%
PANW	C	0.17%	0.13%	0.13%
PAYC	F	0.01%	0.01%	0.01%
PAYX	F	0.08%	0.07%	0.07%
PCAR	D	0.11%	0.06%	0.06%
PFE	C	0.21%	0.22%	0.21%
PGR	B	0.29%	0.19%	0.19%
PH	C	0.02%	0.2%	0.02%
PHM	C	0.05%	0.03%	0.03%
PINS	D	0.0%	0.02%	0.0%
PLD	C	0.05%	0.22%	0.05%
PLTR	B	0.0%	0.03%	0.0%
PNC	A	0.07%	0.15%	0.07%
PNR	D	0.02%	0.17%	0.02%
PODD	C	0.0%	0.02%	0.0%
POOL	F	0.02%	0.02%	0.02%
PPG	D	0.02%	0.11%	0.02%
PRU	A	0.04%	0.14%	0.04%
PSA	B	0.07%	0.1%	0.07%
PWR	D	0.01%	0.2%	0.01%
PYPL	D	0.03%	0.09%	0.03%
QCOM	C	0.42%	0.35%	0.35%
QGEN	D	0.0%	0.01%	0.0%
REG	B	0.01%	0.07%	0.01%
REGN	B	0.43%	0.14%	0.14%
RF	A	0.03%	0.06%	0.03%
RIVN	C	0.0%	0.01%	0.0%
RJF	D	0.01%	0.03%	0.01%
RMD	D	0.04%	0.06%	0.04%
ROK	C	0.06%	0.08%	0.06%
ROL	C	0.08%	0.02%	0.02%
ROP	C	0.51%	0.03%	0.03%
ROST	A	0.02%	0.1%	0.02%
RPRX	D	0.01%	0.02%	0.01%
RS	C	0.01%	0.08%	0.01%
SBAC	C	0.01%	0.03%	0.01%
SBUX	F	0.03%	0.12%	0.03%
SCHW	C	0.04%	0.18%	0.04%
SEIC	C	0.01%	0.02%	0.01%
SHW	C	0.11%	0.46%	0.11%
SMCI	C	0.07%	0.04%	0.04%
SNA	D	0.03%	0.01%	0.01%
SNAP	C	0.0%	0.02%	0.0%
SNOW	F	0.0%	0.03%	0.0%
SONY	B	0.08%	0.15%	0.08%
SPG	B	0.02%	0.13%	0.02%
SPGI	A	0.03%	0.36%	0.03%
SQ	D	0.01%	0.02%	0.01%
SQ	D	0.01%	0.01%	0.01%
STE	D	0.01%	0.03%	0.01%
STLD	C	0.02%	0.01%	0.01%
STT	B	0.03%	0.01%	0.01%
STZ	B	0.01%	0.04%	0.01%
SUI	C	0.01%	0.01%	0.01%
SWKS	B	0.03%	0.01%	0.01%
SYF	A	0.03%	0.07%	0.03%
SYK	C	0.03%	0.22%	0.03%
T	B	0.33%	0.16%	0.16%
TD	D	0.12%	0.19%	0.12%
TDG	D	0.01%	0.14%	0.01%
TDY	D	0.05%	0.09%	0.05%
TECH	D	0.0%	0.01%	0.0%
TEL	A	0.09%	0.11%	0.09%
TER	B	0.04%	0.05%	0.04%
TFX	C	0.0%	0.02%	0.0%
TGT	C	0.14%	0.02%	0.02%
TJX	A	0.33%	0.35%	0.33%
TMO	D	0.06%	0.35%	0.06%
TMUS	B	0.59%	0.1%	0.1%
TRMB	C	0.01%	0.06%	0.01%
TROW	B	0.05%	0.05%	0.05%
TRU	B	0.01%	0.01%	0.01%
TRV	D	0.24%	0.13%	0.13%
TSLA	C	0.13%	1.06%	0.13%
TT	A	0.13%	0.02%	0.02%
TTD	C	0.0%	0.04%	0.0%
TW	D	0.0%	0.01%	0.0%
TXN	B	0.49%	0.27%	0.27%
UBER	C	0.01%	0.17%	0.01%
UHAL	D	0.01%	0.04%	0.01%
ULTA	D	0.07%	0.06%	0.06%
UNH	D	1.15%	0.66%	0.66%
UNP	D	0.26%	0.21%	0.21%
UPS	F	0.07%	0.07%	0.07%
URI	C	0.02%	0.04%	0.02%
USB	B	0.08%	0.1%	0.08%
V	F	1.09%	0.68%	0.68%
VEEV	D	0.04%	0.03%	0.03%
VICI	C	0.02%	0.02%	0.02%
VLTO	D	0.04%	0.03%	0.03%
VMC	C	0.01%	0.01%	0.01%
VRSK	B	0.01%	0.05%	0.01%
VRSN	D	0.14%	0.01%	0.01%
VRT	D	0.0%	0.02%	0.0%
VRTX	A	0.45%	0.15%	0.15%
VTR	A	0.01%	0.05%	0.01%
VZ	B	0.59%	0.22%	0.22%
WAB	D	0.01%	0.07%	0.01%
WAT	D	0.03%	0.02%	0.02%
WDAY	F	0.04%	0.02%	0.02%
WELL	B	0.02%	0.12%	0.02%
WFC	B	0.24%	0.22%	0.22%
WM	B	0.52%	0.1%	0.1%
WMT	B	0.64%	0.3%	0.3%
WPC	C	0.01%	0.01%	0.01%
WRB	D	0.13%	0.07%	0.07%
WST	D	0.04%	0.02%	0.02%
WTW	B	0.06%	0.06%	0.06%
WYNN	F	0.0%	0.01%	0.0%
XRX	F	0.0%	0.02%	0.0%
XYL	D	0.01%	0.41%	0.01%
YUM	F	0.15%	0.08%	0.08%
Z	C	0.0%	0.01%	0.0%
ZBH	F	0.01%	0.05%	0.01%
ZBRA	B	0.01%	0.02%	0.01%
ZM	F	0.01%	0.02%	0.01%
ZTS	C	0.16%	0.17%	0.16%

QWLD Overweight 267 Positions Relative to NZAC

Symbol	Grade	Weight
PG	D	0.94%
PEP	D	0.82%
COST	C	0.75%
KO	B	0.6%
MCK	C	0.57%
XOM	D	0.47%
RSG	A	0.44%
SO	B	0.42%
LMT	D	0.38%
ED	D	0.34%
CVX	D	0.33%
DUK	B	0.33%
CAT	D	0.32%
GE	D	0.3%
NOC	F	0.29%
KR	C	0.28%
WCN	B	0.27%
UL	A	0.26%
HON	B	0.25%
MFG	B	0.22%
KHC	D	0.21%
CL	B	0.21%
MPC	F	0.2%
CI	D	0.19%
TM	F	0.18%
GD	D	0.18%
CHKP	B	0.17%
CVS	F	0.17%
L	C	0.16%
GM	B	0.16%
K	D	0.16%
WEC	D	0.16%
CDNS	C	0.15%
WMB	B	0.15%
PSX	D	0.15%
MDLZ	F	0.15%
SNPS	B	0.14%
UTHR	B	0.13%
TSN	D	0.13%
E	D	0.13%
KMB	A	0.12%
AKAM	D	0.12%
STLA	F	0.12%
COP	D	0.11%
CAH	F	0.11%
CF	F	0.11%
F	B	0.11%
CNI	D	0.11%
HRL	F	0.1%
FANG	B	0.1%
SMFG	B	0.1%
MCHP	D	0.09%
VLO	D	0.09%
CPB	B	0.09%
LOGI	D	0.08%
TFC	A	0.08%
CMI	C	0.08%
PTC	C	0.08%
RTX	D	0.08%
FCNCA	B	0.08%
HMC	F	0.08%
XEL	D	0.07%
DPZ	D	0.07%
AEE	C	0.07%
FDX	B	0.07%
SJM	F	0.07%
AMCR	D	0.07%
CNC	D	0.06%
EOG	B	0.06%
ADM	C	0.06%
PM	A	0.06%
GPC	D	0.06%
DINO	F	0.06%
MPWR	C	0.06%
AEP	C	0.06%
DECK	D	0.05%
MT	D	0.05%
NUE	D	0.05%
LNG	B	0.05%
WBA	F	0.05%
BBY	B	0.05%
D	C	0.05%
TSCO	D	0.05%
WBD	F	0.05%
NEE	C	0.05%
BLDR	F	0.04%
HCA	D	0.04%
WSM	C	0.04%
EXPD	B	0.04%
CTVA	D	0.04%
HPQ	C	0.04%
DOV	C	0.04%
BTI	A	0.04%
LPLA	D	0.04%
DOW	F	0.04%
CAG	F	0.04%
OXY	D	0.04%
CMS	D	0.04%
EMR	B	0.03%
SYY	D	0.03%
WSO	B	0.03%
PKG	C	0.03%
FITB	B	0.03%
PCG	C	0.03%
OC	C	0.03%
KMI	A	0.03%
AVY	D	0.03%
CSL	B	0.03%
FCX	C	0.03%
EXC	D	0.03%
CFG	A	0.03%
DRI	F	0.03%
TRGP	A	0.03%
SRE	B	0.03%
LYB	F	0.03%
TPL	B	0.03%
DVN	D	0.03%
FICO	A	0.03%
BG	B	0.03%
HUBB	D	0.03%
APA	D	0.03%
SLB	D	0.03%
MO	A	0.03%
EME	D	0.03%
MANH	C	0.03%
WRK	C	0.02%
ON	D	0.02%
APTV	F	0.02%
GEHC	C	0.02%
PARA	D	0.02%
DTE	C	0.02%
LSCC	F	0.02%
ACI	F	0.02%
NMR	C	0.02%
CLF	F	0.02%
IP	C	0.02%
TTC	C	0.02%
HAL	F	0.02%
BA	D	0.02%
CHK	D	0.02%
PFG	C	0.02%
AER	B	0.02%
AOS	C	0.02%
KEY	B	0.02%
PEG	B	0.02%
NDSN	D	0.02%
ETR	D	0.02%
BKR	B	0.02%
MOS	F	0.02%
OVV	D	0.02%
CTRA	D	0.02%
DG	D	0.02%
MRO	B	0.02%
SOLV	F	0.02%
DD	B	0.02%
APD	D	0.02%
LHX	A	0.02%
JCI	C	0.02%
LNT	B	0.02%
OKE	A	0.02%
GGG	D	0.02%
VTRS	C	0.02%
DKS	C	0.02%
JBHT	D	0.02%
CCL	C	0.01%
WTRG	C	0.01%
OTEX	D	0.01%
DVA	C	0.01%
GLPI	B	0.01%
TTWO	F	0.01%
HWM	D	0.01%
DAL	D	0.01%
HST	D	0.01%
MGM	C	0.01%
NWSA	A	0.01%
CCK	D	0.01%
SE	B	0.01%
MAA	B	0.01%
EXPE	C	0.01%
STX	B	0.01%
HII	D	0.01%
INVH	C	0.01%
BEN	D	0.01%
SSNC	B	0.01%
WFG	D	0.01%
VST	C	0.01%
QRVO	B	0.01%
PCTY	F	0.01%
KIM	C	0.01%
NI	A	0.01%
IR	B	0.01%
KNX	C	0.01%
BALL	D	0.01%
AWK	C	0.01%
LDOS	B	0.01%
EMN	D	0.01%
MLM	D	0.01%
FNF	C	0.01%
AGCO	F	0.01%
ARE	B	0.01%
AES	D	0.01%
CHRW	C	0.01%
ATO	B	0.01%
OTIS	B	0.01%
UHS	B	0.01%
EVRG	C	0.01%
TXT	C	0.01%
TAP	F	0.01%
J	C	0.01%
BSY	F	0.01%
CHRD	D	0.01%
IFF	B	0.01%
SWK	D	0.01%
CRBG	C	0.01%
PPL	D	0.01%
CNP	D	0.01%
WDC	B	0.01%
GEV	B	0.01%
FE	C	0.01%
EQT	D	0.01%
HES	D	0.01%
CE	D	0.01%
NRG	D	0.01%
ES	C	0.01%
DELL	C	0.01%
CNH	F	0.01%
WY	D	0.01%
KMX	C	0.01%
JBL	F	0.01%
CFLT	F	0.0%
IOT	C	0.0%
GLBE	C	0.0%
RBLX	C	0.0%
TOST	D	0.0%
PATH	F	0.0%
NET	C	0.0%
DKNG	F	0.0%
RGEN	F	0.0%
U	F	0.0%
DDOG	C	0.0%
FUTU	D	0.0%
H	B	0.0%
DAY	F	0.0%
APP	C	0.0%
DT	F	0.0%
PSTG	B	0.0%
GRAB	D	0.0%
ROKU	D	0.0%
HOOD	C	0.0%
TYL	B	0.0%
LII	B	0.0%
ELS	C	0.0%
OKTA	D	0.0%
LUV	D	0.0%
MSCI	C	0.0%
LVS	F	0.0%
RCL	B	0.0%
UDR	B	0.0%
ARES	C	0.0%
ENTG	B	0.0%
WLK	D	0.0%
LW	F	0.0%
TWLO	F	0.0%
CRL	D	0.0%
CPT	B	0.0%
AMH	C	0.0%
RPM	D	0.0%

QWLD Underweight 24 Positions Relative to NZAC

Symbol	Grade	Weight
BABA	C	-0.21%
HDB	C	-0.15%
MELI	B	-0.13%
INFY	B	-0.11%
PDD	D	-0.1%
LI	F	-0.1%
SCCO	C	-0.09%
MTD	D	-0.07%
WIT	B	-0.07%
SHOP	D	-0.07%
TCOM	D	-0.05%
ALNY	A	-0.04%
BIDU	D	-0.04%
XPEV	D	-0.03%
AZN	D	-0.03%
TEVA	B	-0.02%
NIO	F	-0.02%
ASAI	F	-0.02%
BCH	C	-0.02%
MSTR	D	-0.01%
QFIN	C	-0.01%
KB	B	-0.01%
YNDX	C	-0.0%
WIT	B	-0.0%