QWLD vs. ROUS ETF Comparison

Comparison of SPDR MSCI World Quality Mix ETF (QWLD) to Lattice U.S. Equity Strategy ETF (ROUS)

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

$128.87

Average Daily Volume

3,453

Number of Holdings ^*

610

* may have additional holdings in another (foreign) market

ROUS

Lattice U.S. Equity Strategy ETF

ROUS Description

The investment seeks to provide investment results that, before fees and expenses, correspond to the total return performance of the Lattice Risk-Optimized US Large Cap Equity Strategy Index (LROUSLX). The fund generally invests at least 80 percent of its assets in securities of the index and in depositary receipts representing securities of the index. The index seeks to improve returns through a market cycle relative to traditional cap-weighted U.S. equity market indices and active U.S. equity market strategies.

Grade (RS Rating)

Last Trade

$54.28

Average Daily Volume

59,393

Number of Holdings ^*

345

* may have additional holdings in another (foreign) market

Performance

Period	QWLD	ROUS
30 Days	0.82%	4.24%
60 Days	0.23%	4.66%
90 Days	0.87%	6.25%
12 Months	22.65%	30.06%

249 Overlapping Holdings

	Symbol	Grade	Weight in QWLD	Weight in ROUS	Overlap
	AAPL	C	2.57%	1.22%	1.22%
	ABBV	D	0.34%	0.85%	0.34%
	ABBV	D	0.16%	0.85%	0.16%
	ABT	B	0.09%	0.14%	0.09%
	ACGL	D	0.26%	0.24%	0.24%
	ACI	C	0.02%	0.41%	0.02%
	ACN	C	0.65%	0.44%	0.44%
	ADBE	C	0.42%	0.16%	0.16%
	ADI	D	0.04%	0.09%	0.04%
	ADM	D	0.05%	0.03%	0.03%
	ADSK	A	0.1%	0.05%	0.05%
	AEE	A	0.09%	0.13%	0.09%
	AEP	D	0.07%	0.22%	0.07%
	AFL	B	0.12%	0.32%	0.12%
	AIG	B	0.07%	0.02%	0.02%
	AIZ	A	0.08%	0.09%	0.08%
	AKAM	D	0.11%	0.04%	0.04%
	ALL	A	0.08%	0.14%	0.08%
	AMAT	F	0.29%	0.29%	0.29%
	AMCR	D	0.08%	0.1%	0.08%
	AMGN	D	0.16%	0.36%	0.16%
	AMZN	C	0.37%	0.52%	0.37%
	ANET	C	0.19%	0.31%	0.19%
	AOS	F	0.02%	0.01%	0.01%
	APH	A	0.43%	0.58%	0.43%
	AVB	B	0.01%	0.12%	0.01%
	AVGO	D	0.11%	0.63%	0.11%
	AVY	D	0.03%	0.01%	0.01%
	AZO	C	0.28%	0.32%	0.28%
	BAC	A	0.39%	0.11%	0.11%
	BAH	F	0.15%	0.17%	0.15%
	BBY	D	0.06%	0.35%	0.06%
	BK	A	0.05%	0.48%	0.05%
	BKNG	A	0.03%	0.23%	0.03%
	BLDR	D	0.05%	0.12%	0.05%
	BMY	B	0.21%	0.32%	0.21%
	BR	A	0.04%	0.05%	0.04%
	BRK.A	B	0.73%	0.72%	0.72%
	BSX	B	0.02%	0.14%	0.02%
	C	A	0.25%	0.34%	0.25%
	CAH	B	0.13%	0.17%	0.13%
	CAT	B	0.36%	0.19%	0.19%
	CB	C	0.4%	0.33%	0.33%
	CBOE	B	0.24%	0.09%	0.09%
	CCI	D	0.01%	0.04%	0.01%
	CDNS	B	0.13%	0.29%	0.13%
	CDW	F	0.07%	0.33%	0.07%
	CF	B	0.13%	0.03%	0.03%
	CHRD	D	0.01%	0.09%	0.01%
	CHRW	C	0.01%	0.38%	0.01%
	CHTR	C	0.05%	0.02%	0.02%
	CI	F	0.18%	0.24%	0.18%
	CINF	A	0.02%	0.5%	0.02%
	CL	D	0.2%	0.43%	0.2%
	CMCSA	B	0.17%	0.37%	0.17%
	CMI	A	0.1%	0.48%	0.1%
	CNC	D	0.05%	0.1%	0.05%
	COF	B	0.1%	0.04%	0.04%
	COP	C	0.1%	0.08%	0.08%
	COR	B	0.41%	0.27%	0.27%
	COST	B	0.76%	0.56%	0.56%
	CRBG	B	0.01%	0.23%	0.01%
	CSCO	B	1.03%	0.83%	0.83%
	CTAS	B	0.14%	0.43%	0.14%
	CTSH	B	0.2%	0.75%	0.2%
	CVS	D	0.16%	0.44%	0.16%
	CVX	A	0.33%	0.21%	0.21%
	D	C	0.06%	0.04%	0.04%
	DELL	C	0.01%	0.88%	0.01%
	DGX	A	0.11%	0.27%	0.11%
	DHI	D	0.1%	0.19%	0.1%
	DKS	C	0.02%	0.21%	0.02%
	DOV	A	0.05%	0.13%	0.05%
	DTE	C	0.02%	0.23%	0.02%
	DUK	C	0.36%	0.29%	0.29%
	DVN	F	0.03%	0.1%	0.03%
	EA	A	0.2%	0.77%	0.2%
	EBAY	D	0.01%	0.33%	0.01%
	ECL	D	0.01%	0.18%	0.01%
	ED	D	0.35%	0.23%	0.23%
	EG	C	0.06%	0.26%	0.06%
	EIX	B	0.03%	0.12%	0.03%
	ELV	F	0.21%	0.42%	0.21%
	EME	C	0.04%	0.39%	0.04%
	EOG	A	0.06%	0.63%	0.06%
	EQR	B	0.01%	0.12%	0.01%
	ETR	B	0.03%	0.37%	0.03%
	EXC	C	0.03%	0.08%	0.03%
	FANG	D	0.09%	0.12%	0.09%
	FAST	B	0.09%	0.49%	0.09%
	FDX	B	0.07%	0.36%	0.07%
	FE	C	0.01%	0.17%	0.01%
	FFIV	B	0.16%	0.42%	0.16%
	FICO	B	0.05%	0.67%	0.05%
	FITB	A	0.03%	0.17%	0.03%
	FOXA	B	0.01%	0.58%	0.01%
	FTNT	C	0.01%	0.07%	0.01%
	GD	F	0.18%	0.07%	0.07%
	GDDY	A	0.25%	0.52%	0.25%
	GEN	B	0.12%	0.21%	0.12%
	GILD	C	0.24%	0.7%	0.24%
	GIS	D	0.33%	0.14%	0.14%
	GLPI	C	0.01%	0.08%	0.01%
	GLW	B	0.02%	0.54%	0.02%
	GOOGL	C	1.07%	1.26%	1.07%
	GPC	D	0.05%	0.33%	0.05%
	GRMN	B	0.05%	0.3%	0.05%
	GWW	B	0.11%	0.58%	0.11%
	HBAN	A	0.03%	0.23%	0.03%
	HCA	F	0.04%	0.2%	0.04%
	HD	A	0.15%	0.81%	0.15%
	HON	B	0.26%	0.05%	0.05%
	HPE	B	0.04%	0.86%	0.04%
	HPQ	B	0.04%	1.07%	0.04%
	HSY	F	0.16%	0.27%	0.16%
	HUBB	B	0.04%	0.09%	0.04%
	HUM	C	0.15%	0.53%	0.15%
	IBM	C	0.46%	0.83%	0.46%
	INCY	C	0.15%	0.44%	0.15%
	INTU	C	0.27%	0.11%	0.11%
	IP	B	0.02%	0.04%	0.02%
	IRM	D	0.01%	0.18%	0.01%
	IT	C	0.03%	0.56%	0.03%
	ITW	B	0.13%	0.26%	0.13%
	JBL	B	0.02%	0.16%	0.02%
	JCI	C	0.03%	0.03%	0.03%
	JNJ	D	1.1%	1.08%	1.08%
	JNPR	F	0.12%	0.4%	0.12%
	JPM	A	0.6%	0.81%	0.6%
	KEYS	A	0.17%	0.25%	0.17%
	KLAC	D	0.14%	0.28%	0.14%
	KMB	D	0.11%	0.38%	0.11%
	KO	D	0.56%	0.09%	0.09%
	KR	B	0.31%	0.84%	0.31%
	L	A	0.17%	0.1%	0.1%
	LDOS	C	0.01%	0.11%	0.01%
	LII	A	0.0%	0.12%	0.0%
	LIN	D	0.06%	0.02%	0.02%
	LLY	F	1.14%	0.75%	0.75%
	LMT	D	0.42%	0.38%	0.38%
	LNG	B	0.06%	0.33%	0.06%
	LOW	D	0.07%	0.31%	0.07%
	LRCX	F	0.18%	0.17%	0.17%
	LYB	F	0.03%	0.17%	0.03%
	MA	C	0.71%	0.39%	0.39%
	MANH	D	0.04%	0.24%	0.04%
	MAS	D	0.01%	0.26%	0.01%
	MCD	D	0.42%	0.14%	0.14%
	MCHP	D	0.06%	0.21%	0.06%
	MCK	B	0.58%	0.54%	0.54%
	MDT	D	0.06%	0.17%	0.06%
	META	D	2.11%	0.78%	0.78%
	MKL	A	0.13%	0.33%	0.13%
	MMM	D	0.14%	0.15%	0.14%
	MO	A	0.04%	0.6%	0.04%
	MPC	D	0.17%	0.26%	0.17%
	MPWR	F	0.04%	0.01%	0.01%
	MRK	F	0.42%	0.84%	0.42%
	MSFT	F	2.3%	1.14%	1.14%
	MSI	B	0.65%	0.82%	0.65%
	MTB	A	0.05%	0.62%	0.05%
	NEE	D	0.06%	0.09%	0.06%
	NOC	D	0.32%	0.08%	0.08%
	NOW	A	0.01%	0.05%	0.01%
	NRG	B	0.02%	0.51%	0.02%
	NTAP	C	0.04%	1.0%	0.04%
	NVDA	C	2.53%	0.99%	0.99%
	NVR	D	0.06%	0.24%	0.06%
	NWSA	B	0.01%	0.03%	0.01%
	NXPI	D	0.02%	0.38%	0.02%
	O	D	0.02%	0.14%	0.02%
	OC	A	0.03%	0.2%	0.03%
	OMC	C	0.04%	0.15%	0.04%
	ORCL	B	0.25%	0.64%	0.25%
	ORLY	B	0.24%	0.37%	0.24%
	OTIS	C	0.01%	0.28%	0.01%
	PANW	C	0.18%	0.13%	0.13%
	PAYX	C	0.1%	0.02%	0.02%
	PCAR	B	0.11%	0.31%	0.11%
	PEG	A	0.02%	0.24%	0.02%
	PEP	F	0.77%	0.28%	0.28%
	PG	A	0.95%	0.64%	0.64%
	PGR	A	0.35%	0.23%	0.23%
	PHM	D	0.06%	0.29%	0.06%
	PKG	A	0.04%	0.23%	0.04%
	PM	B	0.07%	0.34%	0.07%
	PNC	B	0.1%	0.21%	0.1%
	PPG	F	0.01%	0.16%	0.01%
	PPL	B	0.01%	0.19%	0.01%
	PRU	A	0.05%	0.25%	0.05%
	PSA	D	0.09%	0.07%	0.07%
	PSTG	D	0.0%	0.12%	0.0%
	PSX	C	0.14%	0.02%	0.02%
	PTC	A	0.08%	0.06%	0.06%
	QCOM	F	0.32%	0.52%	0.32%
	REGN	F	0.31%	0.17%	0.17%
	RF	A	0.03%	0.27%	0.03%
	RMD	C	0.05%	0.3%	0.05%
	ROL	B	0.08%	0.14%	0.08%
	ROP	B	0.48%	0.2%	0.2%
	RPM	A	0.01%	0.44%	0.01%
	RS	B	0.02%	0.39%	0.02%
	RSG	A	0.46%	0.2%	0.2%
	SHW	A	0.14%	0.51%	0.14%
	SNA	A	0.04%	0.25%	0.04%
	SNPS	B	0.12%	0.19%	0.12%
	SO	D	0.46%	0.26%	0.26%
	SPG	B	0.02%	0.07%	0.02%
	SRE	A	0.04%	0.07%	0.04%
	STLD	B	0.02%	0.3%	0.02%
	STT	A	0.03%	0.25%	0.03%
	STX	D	0.01%	0.16%	0.01%
	SW	A	0.03%	0.38%	0.03%
	SWKS	F	0.03%	0.15%	0.03%
	SYF	B	0.04%	0.31%	0.04%
	SYK	C	0.03%	0.02%	0.02%
	SYY	B	0.03%	0.26%	0.03%
	T	A	0.39%	0.89%	0.39%
	TER	D	0.02%	0.33%	0.02%
	TGT	F	0.15%	0.11%	0.11%
	TJX	A	0.35%	0.28%	0.28%
	TMUS	B	0.76%	0.76%	0.76%
	TRV	B	0.3%	0.39%	0.3%
	TSCO	D	0.06%	0.32%	0.06%
	TT	A	0.15%	0.23%	0.15%
	TXN	C	0.48%	0.65%	0.48%
	UNH	C	1.35%	1.02%	1.02%
	USB	A	0.09%	0.13%	0.09%
	UTHR	C	0.15%	0.42%	0.15%
	V	A	1.21%	0.4%	0.4%
	VICI	C	0.02%	0.31%	0.02%
	VLO	C	0.08%	0.47%	0.08%
	VRSK	A	0.01%	0.19%	0.01%
	VRSN	F	0.14%	0.36%	0.14%
	VRTX	F	0.43%	0.36%	0.36%
	VST	B	0.01%	0.16%	0.01%
	VTR	C	0.01%	0.02%	0.01%
	VZ	C	0.58%	0.84%	0.58%
	WEC	A	0.2%	0.13%	0.13%
	WELL	A	0.02%	0.09%	0.02%
	WFC	A	0.28%	0.22%	0.22%
	WM	A	0.52%	0.31%	0.31%
	WMT	A	0.76%	1.09%	0.76%
	WPC	D	0.01%	0.01%	0.01%
	WSM	B	0.03%	0.22%	0.03%
	WSO	A	0.03%	0.19%	0.03%
	XEL	A	0.09%	0.27%	0.09%
	XOM	B	0.47%	0.82%	0.47%
	YUM	B	0.15%	0.3%	0.15%

QWLD Overweight 361 Positions Relative to ROUS

	Symbol	Grade	Weight
	GOOG	C	0.94%
	NVS	D	0.79%
	NFLX	A	0.54%
	MMC	B	0.51%
	GE	D	0.31%
	UL	D	0.27%
	WCN	A	0.27%
	ADP	B	0.26%
	UNP	C	0.26%
	HSBH	B	0.25%
	BLK	C	0.25%
	ISRG	A	0.25%
	MFG	B	0.24%
	K	A	0.23%
	KHC	F	0.2%
	GM	B	0.19%
	AJG	B	0.19%
	WMB	A	0.19%
	CHD	B	0.19%
	PFE	D	0.18%
	NKE	D	0.17%
	AON	A	0.17%
	CHKP	D	0.17%
	GS	A	0.17%
	TSLA	B	0.16%
	CME	A	0.16%
	TM	D	0.15%
	TSN	B	0.15%
	ZTS	D	0.15%
	CMG	B	0.14%
	KDP	D	0.14%
	BRO	B	0.14%
	MUFG	B	0.14%
	WRB	A	0.14%
	MDLZ	F	0.14%
	MCO	B	0.13%
	ERIE	D	0.12%
	MS	A	0.12%
	TD	F	0.12%
	E	F	0.12%
	NBIX	C	0.11%
	CSX	B	0.11%
	BCS	C	0.11%
	FCNCA	A	0.11%
	DEO	F	0.11%
	DIS	B	0.1%
	CNI	D	0.1%
	INTC	D	0.1%
	SMFG	B	0.1%
	FI	A	0.09%
	CPB	D	0.09%
	LEN	D	0.09%
	LYG	F	0.09%
	TFC	A	0.09%
	RTX	C	0.09%
	HRL	D	0.09%
	AMP	A	0.09%
	F	C	0.09%
	ODFL	B	0.08%
	CPRT	A	0.08%
	KVUE	A	0.08%
	SONY	B	0.08%
	STLA	F	0.08%
	JKHY	D	0.07%
	WBD	C	0.07%
	MNST	C	0.07%
	HMC	F	0.07%
	UPS	C	0.07%
	EW	C	0.07%
	SJM	D	0.07%
	BMRN	D	0.07%
	LULU	C	0.07%
	BDX	F	0.07%
	WTW	B	0.07%
	IDXX	F	0.07%
	TPL	A	0.06%
	TDY	B	0.06%
	CRM	B	0.06%
	MOH	F	0.06%
	TMO	F	0.06%
	LOGI	D	0.06%
	ROK	B	0.06%
	DPZ	C	0.06%
	A	D	0.06%
	AXP	A	0.06%
	ULTA	F	0.06%
	DE	A	0.06%
	VEEV	C	0.05%
	LPLA	A	0.05%
	BTI	B	0.05%
	VLTO	D	0.05%
	DINO	D	0.05%
	MT	B	0.05%
	CMS	C	0.05%
	MET	A	0.05%
	DHR	F	0.05%
	DECK	A	0.05%
	TROW	B	0.05%
	NEM	D	0.04%
	WST	C	0.04%
	SPGI	C	0.04%
	SBUX	A	0.04%
	WBA	F	0.04%
	EXPD	D	0.04%
	KMI	A	0.04%
	CFG	B	0.04%
	MU	D	0.04%
	WAT	B	0.04%
	CAG	D	0.04%
	CTVA	C	0.04%
	SCHW	B	0.04%
	WDAY	B	0.04%
	NUE	C	0.04%
	TRGP	B	0.04%
	DFS	B	0.04%
	PLD	D	0.04%
	PYPL	B	0.04%
	IEX	B	0.03%
	GGG	B	0.03%
	BG	F	0.03%
	BX	A	0.03%
	FDS	B	0.03%
	POOL	C	0.03%
	JBHT	C	0.03%
	NSC	B	0.03%
	CBRE	B	0.03%
	APD	A	0.03%
	LNT	A	0.03%
	ICE	C	0.03%
	HIG	B	0.03%
	PNR	A	0.03%
	SOLV	C	0.03%
	VTRS	A	0.03%
	ETN	A	0.03%
	EMR	A	0.03%
	SLB	C	0.03%
	OKE	A	0.03%
	CSL	C	0.03%
	PCG	A	0.03%
	DRI	B	0.03%
	OXY	D	0.03%
	AMD	F	0.03%
	DOW	F	0.03%
	ALLY	C	0.02%
	EQIX	A	0.02%
	KMX	B	0.02%
	HAL	C	0.02%
	TTC	D	0.02%
	MKTX	D	0.02%
	EQT	B	0.02%
	WY	D	0.02%
	SQ	B	0.02%
	GEHC	F	0.02%
	APO	B	0.02%
	SEIC	B	0.02%
	NMR	B	0.02%
	CEG	D	0.02%
	NTRS	A	0.02%
	ROST	C	0.02%
	OVV	B	0.02%
	AER	B	0.02%
	MOS	F	0.02%
	FIS	C	0.02%
	RJF	A	0.02%
	LH	C	0.02%
	AFG	A	0.02%
	PFG	D	0.02%
	CTRA	B	0.02%
	DLR	B	0.02%
	PAYC	B	0.02%
	PH	A	0.02%
	CARR	D	0.02%
	MRO	B	0.02%
	NDSN	B	0.02%
	IPG	D	0.02%
	GPN	B	0.02%
	URI	B	0.02%
	AMT	D	0.02%
	DD	D	0.02%
	BKR	B	0.02%
	EPAM	C	0.02%
	KKR	A	0.02%
	GEV	B	0.02%
	ALLE	D	0.02%
	FCX	D	0.02%
	KEY	B	0.02%
	LHX	C	0.02%
	APA	D	0.02%
	DASH	A	0.01%
	CPT	B	0.01%
	WTRG	B	0.01%
	CTLT	B	0.01%
	MGM	D	0.01%
	FSLR	F	0.01%
	RPRX	D	0.01%
	SBAC	D	0.01%
	MBAVU	D	0.01%
	RCL	A	0.01%
	HST	C	0.01%
	EL	F	0.01%
	DVA	B	0.01%
	HII	D	0.01%
	TRU	D	0.01%
	TRMB	B	0.01%
	FOX	A	0.01%
	AVTR	F	0.01%
	TTWO	A	0.01%
	STE	F	0.01%
	SUI	D	0.01%
	REG	B	0.01%
	CLX	B	0.01%
	BURL	A	0.01%
	CCL	B	0.01%
	CE	F	0.01%
	MKC	D	0.01%
	INVH	D	0.01%
	EFX	F	0.01%
	TWLO	A	0.01%
	HLT	A	0.01%
	HSIC	B	0.01%
	RVTY	F	0.01%
	ESS	B	0.01%
	BEN	C	0.01%
	CG	A	0.01%
	COIN	C	0.01%
	DOC	D	0.01%
	MRNA	F	0.01%
	AES	F	0.01%
	CCEP	C	0.01%
	DAL	C	0.01%
	ACM	A	0.01%
	HWM	A	0.01%
	XYL	D	0.01%
	BXP	D	0.01%
	MAA	B	0.01%
	ZM	B	0.01%
	CCK	C	0.01%
	AGCO	D	0.01%
	ZBRA	B	0.01%
	STZ	D	0.01%
	ARE	D	0.01%
	TDG	D	0.01%
	BALL	D	0.01%
	SSNC	B	0.01%
	DLTR	F	0.01%
	FTV	C	0.01%
	AWK	D	0.01%
	CPAY	A	0.01%
	LKQ	D	0.01%
	WFG	D	0.01%
	ABNB	C	0.01%
	IR	B	0.01%
	SE	B	0.01%
	WDC	D	0.01%
	EMN	D	0.01%
	KNX	B	0.01%
	HOLX	D	0.01%
	TXT	D	0.01%
	NDAQ	A	0.01%
	IFF	D	0.01%
	VMC	B	0.01%
	BSY	D	0.01%
	NI	A	0.01%
	KIM	A	0.01%
	MLM	B	0.01%
	ALB	C	0.01%
	MRVL	B	0.01%
	EXPE	B	0.01%
	EQH	B	0.01%
	UHS	D	0.01%
	IQV	D	0.01%
	J	F	0.01%
	APTV	D	0.01%
	FNF	B	0.01%
	PWR	A	0.01%
	MAR	B	0.01%
	ZBH	C	0.01%
	UBER	D	0.01%
	CNP	B	0.01%
	EVRG	A	0.01%
	SWK	D	0.01%
	ATO	A	0.01%
	BIIB	F	0.01%
	DG	F	0.01%
	AME	A	0.01%
	HES	B	0.01%
	WAB	B	0.01%
	BAX	D	0.01%
	MELI	D	0.01%
	ON	D	0.01%
	TAP	C	0.01%
	BA	F	0.01%
	EXR	D	0.01%
	ES	D	0.01%
	SMCI	F	0.01%
	CNH	C	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	C	0.0%
	H	B	0.0%
	FUTU	D	0.0%
	HEI	B	0.0%
	PINS	D	0.0%
	DT	C	0.0%
	DAY	B	0.0%
	SNOW	C	0.0%
	DOCU	A	0.0%
	EXAS	D	0.0%
	PODD	C	0.0%
	GRAB	B	0.0%
	TECH	D	0.0%
	ROKU	D	0.0%
	WYNN	D	0.0%
	OKTA	C	0.0%
	DXCM	D	0.0%
	CRWD	B	0.0%
	MSTR	C	0.0%
	TYL	B	0.0%
	TTD	B	0.0%
	ELS	C	0.0%
	HOOD	B	0.0%
	ENTG	D	0.0%
	TW	A	0.0%
	HEI	B	0.0%
	RIVN	F	0.0%
	Z	A	0.0%
	LUV	C	0.0%
	WLK	D	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	D	0.0%
	MSCI	C	0.0%
	CSGP	D	0.0%
	AXON	A	0.0%
	LVS	C	0.0%
	CRL	C	0.0%
	BIO	D	0.0%
	TFX	F	0.0%
	UDR	B	0.0%
	ILMN	D	0.0%
	QRVO	F	0.0%
	OTEX	D	0.0%
	ANSS	B	0.0%
	AMH	D	0.0%
	ALGN	D	0.0%
	PLTR	B	0.0%
	UHAL	D	0.0%
	ARES	A	0.0%
	FBIN	D	0.0%

QWLD Underweight 97 Positions Relative to ROUS

	Symbol	Grade	Weight
	CVLT	B	-0.78%
	AVT	C	-0.69%
	MUSA	A	-0.64%
	ALSN	B	-0.49%
	HRB	D	-0.49%
	DBX	B	-0.43%
	UNM	A	-0.41%
	MLI	C	-0.4%
	SANM	B	-0.37%
	AXS	A	-0.37%
	VNT	B	-0.36%
	NYT	C	-0.35%
	NSIT	F	-0.32%
	BMI	B	-0.32%
	CRUS	D	-0.32%
	ORI	A	-0.31%
	RHI	B	-0.29%
	WTM	A	-0.29%
	GPI	A	-0.29%
	EXEL	B	-0.29%
	ALKS	B	-0.27%
	CASY	A	-0.26%
	DLB	B	-0.25%
	SNX	C	-0.25%
	LOPE	B	-0.25%
	DCI	B	-0.24%
	CACI	D	-0.24%
	NFG	A	-0.24%
	AIT	A	-0.23%
	LSTR	D	-0.23%
	GPK	C	-0.23%
	R	B	-0.23%
	KD	B	-0.22%
	AN	C	-0.22%
	AYI	B	-0.22%
	SON	D	-0.2%
	OGN	D	-0.2%
	ARW	D	-0.19%
	FLO	D	-0.19%
	RDN	C	-0.19%
	DY	D	-0.18%
	ADC	B	-0.17%
	ASGN	F	-0.17%
	UFPI	B	-0.17%
	RNR	C	-0.16%
	CBT	C	-0.16%
	SKX	D	-0.16%
	MTG	C	-0.14%
	SFM	A	-0.14%
	RL	B	-0.14%
	FLEX	A	-0.14%
	BPOP	B	-0.14%
	FCN	D	-0.14%
	RGA	A	-0.14%
	CMC	B	-0.14%
	COKE	C	-0.13%
	CHE	D	-0.13%
	LAMR	D	-0.13%
	POR	C	-0.12%
	MTD	D	-0.11%
	UMBF	B	-0.1%
	VMI	B	-0.1%
	FSS	B	-0.1%
	BJ	A	-0.09%
	ATR	B	-0.08%
	OGE	B	-0.08%
	JHG	A	-0.08%
	ACIW	B	-0.08%
	INGR	B	-0.08%
	MMS	F	-0.08%
	GWRE	A	-0.07%
	APPF	B	-0.07%
	NNN	D	-0.07%
	KNF	A	-0.07%
	LNC	B	-0.06%
	CSWI	A	-0.06%
	SPSC	C	-0.06%
	AWI	A	-0.05%
	ANF	C	-0.05%
	MOG.A	B	-0.05%
	FELE	B	-0.04%
	LFUS	F	-0.04%
	EPRT	B	-0.04%
	BCO	D	-0.04%
	ITCI	C	-0.04%
	NXST	C	-0.04%
	CIEN	B	-0.02%
	SEE	C	-0.02%
	MSA	D	-0.02%
	EHC	B	-0.02%
	ITRI	B	-0.02%
	OHI	C	-0.02%
	FHN	A	-0.02%
	AAON	B	-0.02%
	SLGN	A	-0.02%
	MTH	D	-0.01%
	ONB	B	-0.01%

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

ROUS: Top Represented Industries & Keywords

Industries: Software - Application Utilities - Regulated Electric Diversified Industrials Specialty Retail Banks - Regional - US Business Services Semiconductors Information Technology Services Insurance - Property & Casualty Packaging & Containers Biotechnology Drug Manufacturers - Major Specialty Chemicals Building Materials Health Care Plans Oil & Gas E&P REIT - Diversified Software - Infrastructure Utilities - Diversified Communication Equipment

Keywords: S&P 500 Nasdaq 100 Computing Natural Gas Insurance Dow Jones Component Electricity Electronics Banking Chemical Telecommunications Bank Insurance Products Semiconductor Aerospace Mining Cloud Computing Mobile Devices Retailing Integrated Circuits