QWLD vs. VCSH ETF Comparison

Comparison of SPDR MSCI World Quality Mix ETF (QWLD) to Vanguard Short-Term Corporate Bond ETF (VCSH)

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

$127.75

Average Daily Volume

3,758

Number of Holdings ^*

609

* may have additional holdings in another (foreign) market

VCSH

Vanguard Short-Term Corporate Bond ETF

VCSH Description

The investment seeks to track the performance of a market-weighted corporate bond index with a short-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 1-5 Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 1 and 5 years. At least 80% of the fund's assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$78.09

Average Daily Volume

2,857,939

Number of Holdings ^*

443

* may have additional holdings in another (foreign) market

Performance

Period	QWLD	VCSH
30 Days	-0.87%	-0.59%
60 Days	0.52%	-0.89%
90 Days	2.56%	0.49%
12 Months	23.47%	7.42%

329 Overlapping Holdings

	Symbol	Grade	Weight in QWLD	Weight in VCSH	Overlap
	A	F	0.07%	0.02%	0.02%
	AAPL	C	2.5%	0.03%	0.03%
	ABBV	F	0.41%	0.02%	0.02%
	ABBV	F	0.16%	0.02%	0.02%
	ABT	C	0.09%	0.02%	0.02%
	ADBE	C	0.42%	0.03%	0.03%
	ADI	D	0.04%	0.02%	0.02%
	ADM	F	0.05%	0.05%	0.05%
	ADP	A	0.26%	0.05%	0.05%
	ADSK	B	0.1%	0.01%	0.01%
	AEE	B	0.08%	0.01%	0.01%
	AEP	D	0.07%	0.01%	0.01%
	AER	B	0.02%	0.03%	0.02%
	AES	F	0.01%	0.02%	0.01%
	AFG	A	0.02%	0.02%	0.02%
	AFL	C	0.12%	0.02%	0.02%
	AIG	B	0.07%	0.06%	0.06%
	AIZ	A	0.08%	0.02%	0.02%
	ALB	C	0.01%	0.02%	0.01%
	ALL	B	0.07%	0.01%	0.01%
	ALLE	D	0.02%	0.02%	0.02%
	ALLY	C	0.02%	0.01%	0.01%
	AMAT	F	0.32%	0.03%	0.03%
	AMD	F	0.04%	0.01%	0.01%
	AMGN	F	0.18%	0.01%	0.01%
	AMP	A	0.09%	0.01%	0.01%
	AMT	F	0.02%	0.01%	0.01%
	AMZN	A	0.37%	0.04%	0.04%
	AON	B	0.17%	0.01%	0.01%
	APD	B	0.03%	0.01%	0.01%
	APH	B	0.43%	0.02%	0.02%
	APTV	F	0.01%	0.03%	0.01%
	ARE	F	0.01%	0.01%	0.01%
	ATO	B	0.01%	0.03%	0.01%
	AVB	B	0.01%	0.01%	0.01%
	AVGO	C	0.12%	0.01%	0.01%
	AWK	D	0.01%	0.01%	0.01%
	AXP	B	0.06%	0.03%	0.03%
	AZO	B	0.29%	0.01%	0.01%
	BA	F	0.01%	0.01%	0.01%
	BAC	A	0.38%	0.01%	0.01%
	BAX	F	0.01%	0.03%	0.01%
	BDX	F	0.08%	0.02%	0.02%
	BEN	C	0.01%	0.02%	0.01%
	BG	D	0.02%	0.03%	0.02%
	BIIB	F	0.01%	0.08%	0.01%
	BK	B	0.05%	0.01%	0.01%
	BKNG	A	0.03%	0.02%	0.02%
	BMY	B	0.21%	0.02%	0.02%
	BR	A	0.04%	0.02%	0.02%
	BRO	B	0.14%	0.02%	0.02%
	BSX	A	0.02%	0.01%	0.01%
	BXP	D	0.01%	0.03%	0.01%
	C	B	0.25%	0.02%	0.02%
	CAG	F	0.04%	0.01%	0.01%
	CAH	B	0.12%	0.02%	0.02%
	CARR	C	0.02%	0.09%	0.02%
	CAT	B	0.39%	0.02%	0.02%
	CB	C	0.38%	0.03%	0.03%
	CCI	F	0.01%	0.02%	0.01%
	CDNS	B	0.14%	0.02%	0.02%
	CE	F	0.01%	0.02%	0.01%
	CF	B	0.12%	0.02%	0.02%
	CFG	B	0.04%	0.01%	0.01%
	CHD	A	0.18%	0.01%	0.01%
	CHTR	B	0.06%	0.07%	0.06%
	CI	D	0.17%	0.01%	0.01%
	CL	F	0.19%	0.01%	0.01%
	CLX	A	0.01%	0.01%	0.01%
	CMCSA	B	0.17%	0.03%	0.03%
	CME	B	0.15%	0.03%	0.03%
	CMI	A	0.09%	0.02%	0.02%
	CMS	D	0.05%	0.01%	0.01%
	CNH	D	0.02%	0.02%	0.02%
	CNP	B	0.01%	0.01%	0.01%
	COF	B	0.1%	0.01%	0.01%
	COP	C	0.1%	0.01%	0.01%
	COST	B	0.75%	0.06%	0.06%
	CPB	F	0.09%	0.02%	0.02%
	CPT	C	0.0%	0.02%	0.0%
	CRM	B	0.05%	0.05%	0.05%
	CSCO	A	1.02%	0.02%	0.02%
	CSL	B	0.03%	0.01%	0.01%
	CSX	B	0.12%	0.02%	0.02%
	CTVA	C	0.05%	0.02%	0.02%
	CVS	F	0.18%	0.02%	0.02%
	CVX	A	0.31%	0.02%	0.02%
	D	D	0.06%	0.01%	0.01%
	DAL	A	0.01%	0.01%	0.01%
	DD	D	0.02%	0.08%	0.02%
	DE	D	0.06%	0.01%	0.01%
	DELL	C	0.01%	0.01%	0.01%
	DFS	B	0.04%	0.01%	0.01%
	DG	F	0.01%	0.01%	0.01%
	DGX	B	0.1%	0.02%	0.02%
	DHI	D	0.11%	0.01%	0.01%
	DHR	F	0.05%	0.02%	0.02%
	DIS	B	0.08%	0.03%	0.03%
	DLR	C	0.02%	0.03%	0.02%
	DLTR	F	0.01%	0.05%	0.01%
	DOC	C	0.01%	0.02%	0.01%
	DOV	A	0.05%	0.02%	0.02%
	DOW	F	0.04%	0.01%	0.01%
	DTE	D	0.02%	0.01%	0.01%
	DUK	D	0.36%	0.01%	0.01%
	DVN	F	0.03%	0.02%	0.02%
	EA	A	0.19%	0.02%	0.02%
	EBAY	C	0.01%	0.03%	0.01%
	ED	D	0.36%	0.01%	0.01%
	EFX	F	0.01%	0.02%	0.01%
	EIX	C	0.02%	0.01%	0.01%
	EL	F	0.01%	0.03%	0.01%
	EMN	D	0.01%	0.03%	0.01%
	EMR	A	0.03%	0.01%	0.01%
	EOG	A	0.05%	0.02%	0.02%
	EQH	B	0.01%	0.02%	0.01%
	EQIX	B	0.01%	0.02%	0.01%
	EQR	C	0.01%	0.02%	0.01%
	ES	D	0.01%	0.01%	0.01%
	ESS	C	0.01%	0.01%	0.01%
	ETN	B	0.03%	0.07%	0.03%
	ETR	B	0.03%	0.01%	0.01%
	EVRG	A	0.01%	0.01%	0.01%
	EXC	C	0.03%	0.01%	0.01%
	EXPE	B	0.01%	0.02%	0.01%
	FANG	C	0.09%	0.02%	0.02%
	FDX	B	0.07%	0.03%	0.03%
	FE	D	0.01%	0.01%	0.01%
	FIS	B	0.02%	0.03%	0.02%
	FITB	A	0.03%	0.03%	0.03%
	FOXA	A	0.01%	0.04%	0.01%
	FTNT	B	0.01%	0.02%	0.01%
	FTV	C	0.01%	0.04%	0.01%
	GD	C	0.19%	0.02%	0.02%
	GE	D	0.31%	0.01%	0.01%
	GILD	B	0.25%	0.04%	0.04%
	GIS	F	0.33%	0.03%	0.03%
	GLPI	D	0.01%	0.03%	0.01%
	GM	B	0.18%	0.02%	0.02%
	GOOGL	C	1.08%	0.04%	0.04%
	GPN	B	0.02%	0.03%	0.02%
	GS	B	0.17%	0.01%	0.01%
	GWW	B	0.11%	0.02%	0.02%
	H	B	0.0%	0.01%	0.0%
	HAL	C	0.02%	0.03%	0.02%
	HBAN	A	0.03%	0.01%	0.01%
	HCA	D	0.04%	0.06%	0.04%
	HD	B	0.14%	0.01%	0.01%
	HES	B	0.01%	0.01%	0.01%
	HII	F	0.01%	0.01%	0.01%
	HON	B	0.25%	0.01%	0.01%
	HPE	B	0.04%	0.03%	0.03%
	HPQ	B	0.04%	0.05%	0.04%
	HRL	F	0.09%	0.03%	0.03%
	HST	D	0.01%	0.02%	0.01%
	HSY	F	0.16%	0.01%	0.01%
	HUBB	C	0.04%	0.01%	0.01%
	HUM	D	0.16%	0.02%	0.02%
	IBM	D	0.48%	0.02%	0.02%
	ICE	C	0.03%	0.02%	0.02%
	IFF	F	0.01%	0.01%	0.01%
	ILMN	C	0.0%	0.02%	0.0%
	INTC	C	0.1%	0.03%	0.03%
	INTU	A	0.25%	0.02%	0.02%
	IP	B	0.02%	0.02%	0.02%
	IPG	F	0.02%	0.01%	0.01%
	ITW	B	0.14%	0.04%	0.04%
	JBHT	C	0.03%	0.03%	0.03%
	JBL	C	0.02%	0.01%	0.01%
	JCI	A	0.03%	0.02%	0.02%
	JNJ	D	1.11%	0.02%	0.02%
	JNPR	D	0.13%	0.03%	0.03%
	JPM	A	0.59%	0.01%	0.01%
	K	A	0.22%	0.02%	0.02%
	KDP	C	0.14%	0.02%	0.02%
	KEY	B	0.03%	0.01%	0.01%
	KEYS	C	0.18%	0.02%	0.02%
	KIM	A	0.01%	0.01%	0.01%
	KLAC	F	0.16%	0.06%	0.06%
	KMB	D	0.11%	0.01%	0.01%
	KMI	B	0.04%	0.02%	0.02%
	KO	F	0.57%	0.06%	0.06%
	KR	A	0.32%	0.02%	0.02%
	L	A	0.17%	0.02%	0.02%
	LDOS	C	0.01%	0.02%	0.01%
	LEN	D	0.09%	0.01%	0.01%
	LH	B	0.02%	0.01%	0.01%
	LHX	B	0.03%	0.02%	0.02%
	LII	B	0.0%	0.01%	0.0%
	LIN	D	0.06%	0.02%	0.02%
	LLY	F	1.17%	0.02%	0.02%
	LMT	D	0.43%	0.05%	0.05%
	LNT	C	0.03%	0.02%	0.02%
	LOW	B	0.07%	0.01%	0.01%
	LRCX	F	0.2%	0.02%	0.02%
	LUV	B	0.0%	0.01%	0.0%
	LVS	C	0.0%	0.02%	0.0%
	LYB	F	0.03%	0.02%	0.02%
	MA	B	0.7%	0.04%	0.04%
	MAA	C	0.01%	0.01%	0.01%
	MAR	A	0.01%	0.01%	0.01%
	MCD	C	0.41%	0.01%	0.01%
	MCHP	F	0.06%	0.01%	0.01%
	MCK	B	0.51%	0.01%	0.01%
	MCO	C	0.12%	0.02%	0.02%
	MDLZ	F	0.15%	0.01%	0.01%
	MDT	D	0.06%	0.08%	0.06%
	MET	C	0.05%	0.02%	0.02%
	MKC	D	0.01%	0.02%	0.01%
	MLM	B	0.01%	0.01%	0.01%
	MMC	D	0.51%	0.01%	0.01%
	MMM	C	0.14%	0.01%	0.01%
	MO	A	0.04%	0.01%	0.01%
	MOS	D	0.02%	0.03%	0.02%
	MPC	D	0.17%	0.03%	0.03%
	MRK	F	0.44%	0.04%	0.04%
	MRVL	B	0.01%	0.02%	0.01%
	MS	A	0.11%	0.03%	0.03%
	MSFT	C	2.29%	0.04%	0.04%
	MSI	B	0.61%	0.03%	0.03%
	MTB	A	0.05%	0.02%	0.02%
	MU	D	0.04%	0.03%	0.03%
	MUFG	A	0.13%	0.01%	0.01%
	NDAQ	B	0.01%	0.01%	0.01%
	NEE	D	0.05%	0.01%	0.01%
	NEM	F	0.04%	0.01%	0.01%
	NI	A	0.01%	0.05%	0.01%
	NKE	F	0.16%	0.02%	0.02%
	NOC	D	0.33%	0.05%	0.05%
	NSC	B	0.03%	0.01%	0.01%
	NTAP	D	0.04%	0.02%	0.02%
	NTRS	A	0.02%	0.04%	0.02%
	NUE	D	0.05%	0.03%	0.03%
	NVDA	A	2.56%	0.02%	0.02%
	NXPI	F	0.02%	0.02%	0.02%
	O	D	0.02%	0.01%	0.01%
	OC	A	0.03%	0.01%	0.01%
	OKE	A	0.03%	0.02%	0.02%
	OMC	A	0.04%	0.06%	0.04%
	ORCL	A	0.25%	0.05%	0.05%
	ORLY	A	0.24%	0.01%	0.01%
	OTIS	D	0.01%	0.07%	0.01%
	PCAR	B	0.11%	0.01%	0.01%
	PCG	A	0.03%	0.01%	0.01%
	PEG	C	0.02%	0.01%	0.01%
	PEP	D	0.79%	0.02%	0.02%
	PFE	F	0.19%	0.03%	0.03%
	PFG	C	0.02%	0.01%	0.01%
	PG	C	0.89%	0.01%	0.01%
	PH	A	0.02%	0.02%	0.02%
	PHM	D	0.06%	0.03%	0.03%
	PKG	B	0.04%	0.01%	0.01%
	PM	B	0.07%	0.02%	0.02%
	PNC	B	0.09%	0.02%	0.02%
	PPG	F	0.01%	0.01%	0.01%
	PPL	A	0.01%	0.01%	0.01%
	PRU	B	0.05%	0.03%	0.03%
	PSA	D	0.08%	0.02%	0.02%
	PSX	C	0.13%	0.01%	0.01%
	PYPL	A	0.04%	0.03%	0.03%
	QCOM	F	0.34%	0.04%	0.04%
	RF	A	0.03%	0.04%	0.03%
	ROK	B	0.06%	0.01%	0.01%
	ROP	A	0.49%	0.01%	0.01%
	ROST	D	0.02%	0.02%	0.02%
	RPM	A	0.01%	0.01%	0.01%
	RPRX	F	0.01%	0.04%	0.01%
	RS	C	0.02%	0.01%	0.01%
	RSG	B	0.45%	0.01%	0.01%
	RTX	D	0.09%	0.02%	0.02%
	SBUX	B	0.04%	0.02%	0.02%
	SCHW	B	0.04%	0.01%	0.01%
	SHW	A	0.14%	0.02%	0.02%
	SLB	C	0.03%	0.02%	0.02%
	SO	D	0.45%	0.01%	0.01%
	SPG	A	0.02%	0.02%	0.02%
	SPGI	C	0.03%	0.03%	0.03%
	SRE	B	0.03%	0.01%	0.01%
	STLA	F	0.08%	0.07%	0.07%
	STLD	C	0.03%	0.02%	0.02%
	STT	B	0.03%	0.03%	0.03%
	STZ	D	0.01%	0.02%	0.01%
	SWK	F	0.01%	0.03%	0.01%
	SWKS	F	0.03%	0.03%	0.03%
	SYF	B	0.04%	0.03%	0.03%
	SYK	A	0.03%	0.01%	0.01%
	SYY	D	0.03%	0.03%	0.03%
	T	A	0.38%	0.01%	0.01%
	TAP	B	0.01%	0.1%	0.01%
	TD	D	0.12%	0.02%	0.02%
	TDY	B	0.06%	0.02%	0.02%
	TFC	B	0.09%	0.01%	0.01%
	TGT	C	0.14%	0.05%	0.05%
	TJX	A	0.33%	0.04%	0.04%
	TMO	F	0.06%	0.01%	0.01%
	TMUS	A	0.73%	0.04%	0.04%
	TRMB	B	0.01%	0.01%	0.01%
	TSN	B	0.13%	0.01%	0.01%
	TT	B	0.14%	0.02%	0.02%
	TXN	B	0.51%	0.01%	0.01%
	TXT	D	0.01%	0.01%	0.01%
	UDR	C	0.0%	0.01%	0.0%
	UHS	D	0.01%	0.01%	0.01%
	UNH	B	1.34%	0.01%	0.01%
	UNP	D	0.27%	0.01%	0.01%
	UPS	C	0.07%	0.02%	0.02%
	USB	B	0.09%	0.02%	0.02%
	V	A	1.19%	0.13%	0.13%
	VLO	C	0.07%	0.03%	0.03%
	VMC	B	0.01%	0.01%	0.01%
	VRSK	A	0.01%	0.05%	0.01%
	VTR	C	0.01%	0.02%	0.01%
	VTRS	B	0.03%	0.03%	0.03%
	VZ	D	0.56%	0.06%	0.06%
	WAB	B	0.01%	0.03%	0.01%
	WBA	D	0.04%	0.06%	0.04%
	WEC	B	0.19%	0.02%	0.02%
	WELL	B	0.02%	0.01%	0.01%
	WFC	A	0.27%	0.01%	0.01%
	WLK	F	0.0%	0.04%	0.0%
	WM	A	0.52%	0.02%	0.02%
	WMB	B	0.19%	0.03%	0.03%
	WMT	A	0.75%	0.02%	0.02%
	WPC	F	0.01%	0.02%	0.01%
	WY	F	0.02%	0.01%	0.01%
	XEL	A	0.08%	0.01%	0.01%
	XOM	B	0.47%	0.02%	0.02%
	ZBH	C	0.01%	0.02%	0.01%
	ZTS	D	0.15%	0.04%	0.04%

QWLD Overweight 280 Positions Relative to VCSH

	Symbol	Grade	Weight
	META	B	2.14%
	GOOG	C	0.95%
	NVS	F	0.81%
	BRK.A	B	0.72%
	ACN	B	0.65%
	NFLX	A	0.51%
	VRTX	B	0.45%
	COR	B	0.42%
	PGR	A	0.35%
	REGN	F	0.33%
	TRV	B	0.29%
	UL	D	0.27%
	WCN	A	0.26%
	ISRG	A	0.25%
	HSBH	A	0.25%
	ACGL	C	0.25%
	CBOE	D	0.24%
	GDDY	B	0.23%
	ELV	F	0.22%
	MFG	A	0.22%
	CTSH	A	0.21%
	KHC	F	0.21%
	ANET	C	0.21%
	BAH	C	0.18%
	PANW	B	0.18%
	AJG	A	0.18%
	CHKP	C	0.17%
	INCY	B	0.16%
	UTHR	B	0.16%
	FFIV	B	0.16%
	YUM	B	0.15%
	CTAS	B	0.14%
	TSLA	B	0.14%
	WRB	B	0.14%
	VRSN	C	0.14%
	TM	F	0.14%
	SNPS	C	0.13%
	AKAM	F	0.13%
	CMG	B	0.13%
	FCNCA	B	0.12%
	GEN	B	0.12%
	MKL	A	0.12%
	E	F	0.12%
	ERIE	F	0.12%
	DEO	F	0.11%
	BCS	B	0.11%
	NBIX	C	0.11%
	SMFG	A	0.1%
	CNI	F	0.1%
	PAYX	B	0.1%
	LYG	D	0.09%
	FAST	B	0.09%
	F	C	0.09%
	AMCR	D	0.08%
	KVUE	A	0.08%
	CPRT	A	0.08%
	ROL	C	0.08%
	SONY	C	0.08%
	CDW	F	0.08%
	PTC	B	0.08%
	ODFL	B	0.08%
	FI	A	0.08%
	EW	F	0.07%
	ULTA	C	0.07%
	JKHY	C	0.07%
	MNST	B	0.07%
	HMC	F	0.07%
	LULU	B	0.07%
	BMRN	F	0.07%
	IDXX	F	0.07%
	WTW	A	0.07%
	SJM	F	0.07%
	MPWR	F	0.06%
	EG	D	0.06%
	TSCO	D	0.06%
	WBD	B	0.06%
	LOGI	F	0.06%
	DPZ	C	0.06%
	NVR	D	0.06%
	MOH	F	0.06%
	VEEV	B	0.05%
	VLTO	D	0.05%
	DECK	B	0.05%
	DINO	D	0.05%
	MT	C	0.05%
	CNC	F	0.05%
	LNG	B	0.05%
	GPC	D	0.05%
	TROW	A	0.05%
	BBY	C	0.05%
	RMD	C	0.05%
	TPL	B	0.05%
	GRMN	A	0.05%
	IT	B	0.04%
	SNA	A	0.04%
	EXPD	C	0.04%
	WST	B	0.04%
	MANH	C	0.04%
	WDAY	B	0.04%
	TRGP	B	0.04%
	WAT	B	0.04%
	PLD	D	0.04%
	FICO	B	0.04%
	EME	B	0.04%
	LPLA	A	0.04%
	BLDR	C	0.04%
	BTI	C	0.04%
	GGG	B	0.03%
	AVY	F	0.03%
	TER	F	0.03%
	BX	A	0.03%
	FCX	F	0.03%
	FDS	A	0.03%
	IEX	B	0.03%
	APA	F	0.03%
	CBRE	B	0.03%
	PNR	A	0.03%
	HIG	C	0.03%
	POOL	D	0.03%
	SW	B	0.03%
	SOLV	C	0.03%
	WSO	B	0.03%
	WSM	F	0.03%
	DRI	B	0.03%
	OXY	F	0.03%
	PARA	B	0.02%
	NRG	C	0.02%
	ACI	C	0.02%
	NMR	B	0.02%
	TTC	F	0.02%
	APO	B	0.02%
	MKTX	C	0.02%
	SEIC	A	0.02%
	AOS	F	0.02%
	GEHC	D	0.02%
	OVV	C	0.02%
	SMCI	F	0.02%
	CEG	D	0.02%
	CINF	A	0.02%
	ENPH	F	0.02%
	RJF	A	0.02%
	CTRA	B	0.02%
	VICI	D	0.02%
	EPAM	B	0.02%
	PAYC	B	0.02%
	MRO	B	0.02%
	GLW	B	0.02%
	NDSN	B	0.02%
	DKS	D	0.02%
	BKR	B	0.02%
	URI	B	0.02%
	KKR	B	0.02%
	GEV	B	0.02%
	ARES	B	0.01%
	MGM	D	0.01%
	CTLT	D	0.01%
	DVA	C	0.01%
	WTRG	C	0.01%
	FSLR	F	0.01%
	UHAL	D	0.01%
	SBAC	D	0.01%
	RCL	A	0.01%
	FBIN	F	0.01%
	TTWO	A	0.01%
	FOX	A	0.01%
	BURL	C	0.01%
	COIN	B	0.01%
	REG	A	0.01%
	NWSA	B	0.01%
	STE	D	0.01%
	IRM	D	0.01%
	TRU	D	0.01%
	CCL	B	0.01%
	SUI	F	0.01%
	TWLO	B	0.01%
	MBAVU	C	0.01%
	AVTR	F	0.01%
	MAS	D	0.01%
	INVH	D	0.01%
	HLT	A	0.01%
	HSIC	F	0.01%
	STX	D	0.01%
	CCEP	C	0.01%
	CG	B	0.01%
	XYL	F	0.01%
	ZM	B	0.01%
	HWM	B	0.01%
	ACM	B	0.01%
	RVTY	C	0.01%
	AGCO	F	0.01%
	CHRD	D	0.01%
	CCK	D	0.01%
	ZBRA	B	0.01%
	BALL	D	0.01%
	CPAY	A	0.01%
	SE	B	0.01%
	SSNC	C	0.01%
	LKQ	C	0.01%
	WFG	C	0.01%
	TDG	D	0.01%
	IR	A	0.01%
	ABNB	C	0.01%
	KNX	C	0.01%
	HOLX	D	0.01%
	MRNA	F	0.01%
	WDC	D	0.01%
	VST	B	0.01%
	PWR	B	0.01%
	BSY	F	0.01%
	FNF	C	0.01%
	J	D	0.01%
	CHRW	A	0.01%
	UBER	F	0.01%
	AME	A	0.01%
	IQV	F	0.01%
	EXR	D	0.01%
	CRBG	C	0.01%
	ECL	C	0.01%
	NOW	A	0.01%
	SQ	B	0.01%
	EQT	B	0.01%
	MELI	D	0.01%
	ON	F	0.01%
	KMX	B	0.01%
	GLBE	B	0.0%
	IOT	B	0.0%
	NET	B	0.0%
	XRX	F	0.0%
	TOST	A	0.0%
	RBLX	B	0.0%
	DKNG	B	0.0%
	DDOG	B	0.0%
	SNAP	C	0.0%
	PSTG	D	0.0%
	HEI	A	0.0%
	FUTU	C	0.0%
	DT	C	0.0%
	PODD	B	0.0%
	DOCU	B	0.0%
	SNOW	C	0.0%
	GRAB	B	0.0%
	PINS	F	0.0%
	MSTR	B	0.0%
	DAY	B	0.0%
	WYNN	C	0.0%
	EXAS	F	0.0%
	DXCM	C	0.0%
	ROKU	C	0.0%
	TECH	D	0.0%
	CRWD	B	0.0%
	OKTA	C	0.0%
	APP	B	0.0%
	TYL	B	0.0%
	Z	B	0.0%
	HOOD	B	0.0%
	ELS	B	0.0%
	TTD	B	0.0%
	HEI	A	0.0%
	TW	B	0.0%
	RIVN	F	0.0%
	ENTG	F	0.0%
	AXON	B	0.0%
	LYV	A	0.0%
	MSCI	B	0.0%
	PLTR	B	0.0%
	VRT	B	0.0%
	QGEN	D	0.0%
	BBWI	C	0.0%
	LW	B	0.0%
	CSGP	F	0.0%
	TFX	F	0.0%
	AMH	C	0.0%
	MTCH	F	0.0%
	OTEX	F	0.0%
	ANSS	B	0.0%
	ALGN	D	0.0%
	CRL	C	0.0%
	BIO	C	0.0%
	DASH	A	0.0%
	QRVO	F	0.0%

QWLD Underweight 115 Positions Relative to VCSH

	Symbol	Grade	Weight
	BLK	A	-0.05%
	VFC	C	-0.04%
	WB	F	-0.04%
	ARCC	A	-0.04%
	GSK	F	-0.04%
	AZN	F	-0.04%
	AGR	C	-0.03%
	JD	C	-0.03%
	HAS	D	-0.03%
	MHK	D	-0.03%
	DXC	B	-0.03%
	WAL	B	-0.03%
	CNO	B	-0.03%
	SNX	C	-0.03%
	PVH	C	-0.03%
	JEF	B	-0.03%
	EPD	A	-0.03%
	MPLX	A	-0.03%
	BERY	D	-0.03%
	SKT	A	-0.02%
	RL	B	-0.02%
	THG	A	-0.02%
	UNM	A	-0.02%
	VNT	C	-0.02%
	BKU	A	-0.02%
	GBDC	B	-0.02%
	BC	D	-0.02%
	HP	C	-0.02%
	HOG	D	-0.02%
	GXO	B	-0.02%
	KMPR	A	-0.02%
	FRT	B	-0.02%
	NNN	F	-0.02%
	SF	A	-0.02%
	SBRA	C	-0.02%
	TSLX	D	-0.02%
	VNO	C	-0.02%
	BKH	A	-0.02%
	COKE	C	-0.02%
	BWA	B	-0.02%
	BABA	D	-0.02%
	AWH	F	-0.02%
	GSBD	F	-0.02%
	HRB	D	-0.02%
	OCSL	D	-0.02%
	LAZ	C	-0.02%
	ORI	A	-0.02%
	VOYA	B	-0.02%
	OHI	C	-0.02%
	IVZ	B	-0.02%
	BRX	A	-0.02%
	AN	C	-0.02%
	CNA	C	-0.02%
	FLEX	B	-0.02%
	FSK	A	-0.02%
	WEST	D	-0.02%
	ET	A	-0.02%
	AL	B	-0.02%
	CM	A	-0.02%
	RY	C	-0.02%
	NVT	C	-0.01%
	HIW	D	-0.01%
	FNB	B	-0.01%
	CACC	D	-0.01%
	VLY	B	-0.01%
	KSS	D	-0.01%
	G	B	-0.01%
	EPR	D	-0.01%
	NEU	C	-0.01%
	TKR	F	-0.01%
	FAF	C	-0.01%
	LEG	F	-0.01%
	FMC	F	-0.01%
	JHG	A	-0.01%
	WHR	B	-0.01%
	RNR	D	-0.01%
	SNV	B	-0.01%
	SLG	C	-0.01%
	BDN	D	-0.01%
	BCSF	A	-0.01%
	TME	F	-0.01%
	RGA	A	-0.01%
	SITC	F	-0.01%
	TEL	B	-0.01%
	BHP	F	-0.01%
	FLS	B	-0.01%
	GP	F	-0.01%
	OGS	B	-0.01%
	LNC	B	-0.01%
	PNW	A	-0.01%
	PSEC	F	-0.01%
	SCCO	F	-0.01%
	FHN	A	-0.01%
	CUBE	D	-0.01%
	MAIN	A	-0.01%
	PDM	D	-0.01%
	KRC	C	-0.01%
	NFG	D	-0.01%
	OPI	F	-0.01%
	CP	F	-0.01%
	AVT	C	-0.01%
	AMG	B	-0.01%
	ARW	F	-0.01%
	UAL	A	-0.01%
	WU	F	-0.01%
	R	B	-0.01%
	CMA	A	-0.01%
	BIDU	F	-0.01%
	PAA	C	-0.01%
	BNS	A	-0.01%
	VOD	F	-0.01%
	DB	D	-0.01%
	BMO	A	-0.01%
	HSBC	B	-0.01%
	NWG	B	-0.01%

QWLD: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Utilities - Regulated Electric Business Services Diagnostics & Research Semiconductors Asset Management 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

VCSH: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Asset Management Banks - Regional - US Banks - Global Credit Services Diversified Industrials Drug Manufacturers - Major Semiconductors REIT - Office REIT - Retail Specialty Chemicals Business Services Utilities - Diversified Aerospace & Defense Capital Markets Diagnostics & Research Insurance - Life Oil & Gas Midstream Packaged Foods Household & Personal Products

Keywords: S&P 500 Nasdaq 100 Natural Gas Bank Insurance Banking Electricity Real Estate Investment Trust Dow Jones Component Investment Bank Electronics Computing Insurance Products Cash Management Chemical Financial Products Aerospace Commercial Banking Semiconductor Disability