SPGM vs. BND ETF Comparison

Comparison of SPDR Portfolio MSCI Global Stock Market ETF (SPGM) to Vanguard Total Bond Market ETF (BND)

SPGM

SPDR Portfolio MSCI Global Stock Market ETF

SPGM Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI ACWI IMI Index. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index and in depositary receipts based on securities comprising the index. The index is a free float-adjusted market capitalization-weighted index that is designed to measure the combined equity market performance of developed and emerging markets.

Grade (RS Rating)

Last Trade

$64.66

Average Daily Volume

43,996

Number of Holdings ^*

1001

* may have additional holdings in another (foreign) market

BND

Vanguard Total Bond Market ETF

BND Description

The investment seeks the performance of a broad, market-weighted bond index. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. Aggregate Float Adjusted Index. This Index represents a wide spectrum of public, investment-grade, taxable, fixed income securities in the United States-including government, corporate, and international dollar-denominated bonds, as well as mortgage-backed and asset-backed securities-all with maturities of more than 1 year. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds held in the index.

Grade (RS Rating)

Last Trade

$74.15

Average Daily Volume

5,743,135

Number of Holdings ^*

546

* may have additional holdings in another (foreign) market

Performance

Period	SPGM	BND
30 Days	4.41%	-0.55%
60 Days	11.77%	0.34%
90 Days	4.41%	3.35%
12 Months	32.74%	11.27%

254 Overlapping Holdings

Symbol	Grade	Weight in SPGM	Weight in BND	Overlap
A	B	0.23%	0.01%	0.01%
AAPL	C	3.74%	0.01%	0.01%
ABBV	C	0.42%	0.01%	0.01%
ABBV	C	0.19%	0.01%	0.01%
ABT	C	0.33%	0.01%	0.01%
ADBE	F	0.34%	0.01%	0.01%
ADI	B	0.18%	0.01%	0.01%
ADM	F	0.09%	0.01%	0.01%
ADP	A	0.21%	0.01%	0.01%
ADSK	B	0.01%	0.01%	0.01%
AEP	C	0.16%	0.01%	0.01%
AES	C	0.01%	0.01%	0.01%
AFL	A	0.25%	0.01%	0.01%
ALB	D	0.01%	0.01%	0.01%
ALL	A	0.15%	0.01%	0.01%
ALLE	A	0.04%	0.01%	0.01%
ALLY	F	0.01%	0.01%	0.01%
AMAT	C	0.28%	0.01%	0.01%
AMG	B	0.0%	0.01%	0.0%
AMGN	D	0.23%	0.01%	0.01%
AMT	D	0.19%	0.01%	0.01%
AMZN	C	1.95%	0.01%	0.01%
AON	A	0.07%	0.01%	0.01%
APD	C	0.08%	0.01%	0.01%
APH	D	0.01%	0.01%	0.01%
APTV	D	0.0%	0.01%	0.0%
AVGO	B	0.9%	0.01%	0.01%
AXP	A	0.34%	0.01%	0.01%
AZN	D	0.09%	0.01%	0.01%
BA	F	0.1%	0.01%	0.01%
BABA	A	0.23%	0.01%	0.01%
BABA	A	0.03%	0.01%	0.01%
BAC	B	0.44%	0.01%	0.01%
BAX	D	0.06%	0.01%	0.01%
BDX	C	0.17%	0.01%	0.01%
BEN	F	0.05%	0.01%	0.01%
BHF	D	0.01%	0.01%	0.01%
BIDU	C	0.03%	0.01%	0.01%
BIIB	F	0.08%	0.01%	0.01%
BK	A	0.18%	0.01%	0.01%
BKNG	B	0.26%	0.01%	0.01%
BLK	A	0.08%	0.01%	0.01%
BMY	A	0.12%	0.01%	0.01%
BSX	A	0.14%	0.01%	0.01%
C	B	0.23%	0.01%	0.01%
CAG	D	0.05%	0.01%	0.01%
CARR	A	0.06%	0.01%	0.01%
CAT	A	0.3%	0.01%	0.01%
CB	A	0.27%	0.01%	0.01%
CDNS	D	0.06%	0.01%	0.01%
CF	A	0.02%	0.01%	0.01%
CFG	C	0.02%	0.01%	0.01%
CHD	D	0.07%	0.01%	0.01%
CHRW	C	0.09%	0.01%	0.01%
CHTR	D	0.09%	0.01%	0.01%
CI	D	0.08%	0.01%	0.01%
CL	D	0.14%	0.01%	0.01%
CLX	C	0.12%	0.01%	0.01%
CMCSA	B	0.17%	0.01%	0.01%
CME	A	0.09%	0.01%	0.01%
CMI	A	0.23%	0.01%	0.01%
CNH	C	0.01%	0.01%	0.01%
COF	A	0.12%	0.01%	0.01%
COP	D	0.17%	0.01%	0.01%
COST	C	0.55%	0.01%	0.01%
CRM	B	0.41%	0.01%	0.01%
CSCO	A	0.33%	0.01%	0.01%
CSX	D	0.18%	0.01%	0.01%
CTVA	A	0.08%	0.01%	0.01%
CVS	D	0.14%	0.01%	0.01%
CVX	B	0.31%	0.01%	0.01%
DD	C	0.08%	0.01%	0.01%
DE	C	0.19%	0.01%	0.01%
DELL	C	0.02%	0.01%	0.01%
DFS	A	0.16%	0.01%	0.01%
DHI	C	0.0%	0.01%	0.0%
DHR	D	0.34%	0.01%	0.01%
DIS	D	0.25%	0.01%	0.01%
DLR	C	0.01%	0.01%	0.01%
DLTR	F	0.04%	0.01%	0.01%
DOC	C	0.05%	0.01%	0.01%
DOW	B	0.07%	0.01%	0.01%
DT	B	0.01%	0.01%	0.01%
DUK	C	0.1%	0.01%	0.01%
DVN	F	0.01%	0.01%	0.01%
DXC	C	0.01%	0.01%	0.01%
EA	D	0.0%	0.01%	0.0%
EBAY	A	0.11%	0.01%	0.01%
ECL	C	0.14%	0.01%	0.01%
EIX	C	0.12%	0.01%	0.01%
EL	D	0.07%	0.01%	0.01%
EMR	B	0.18%	0.01%	0.01%
EOG	B	0.14%	0.01%	0.01%
EPRT	C	0.01%	0.01%	0.01%
EQIX	C	0.04%	0.01%	0.01%
EQR	C	0.06%	0.01%	0.01%
ETN	B	0.21%	0.01%	0.01%
EXC	C	0.07%	0.01%	0.01%
EXPE	B	0.01%	0.01%	0.01%
FDX	F	0.16%	0.01%	0.01%
FE	C	0.07%	0.01%	0.01%
FIS	A	0.01%	0.01%	0.01%
FOXA	B	0.05%	0.01%	0.01%
FTNT	A	0.02%	0.01%	0.01%
FTV	C	0.06%	0.01%	0.01%
GD	C	0.23%	0.01%	0.01%
GE	B	0.15%	0.01%	0.01%
GILD	A	0.17%	0.01%	0.01%
GIS	C	0.06%	0.01%	0.01%
GLW	C	0.14%	0.01%	0.01%
GM	D	0.08%	0.01%	0.01%
GOOGL	B	1.04%	0.01%	0.01%
GPN	F	0.0%	0.01%	0.0%
GS	B	0.31%	0.01%	0.01%
GXO	D	0.0%	0.01%	0.0%
HAL	D	0.05%	0.01%	0.01%
HCA	C	0.03%	0.01%	0.01%
HD	A	0.55%	0.01%	0.01%
HES	D	0.11%	0.01%	0.01%
HOG	D	0.0%	0.01%	0.0%
HON	C	0.19%	0.01%	0.01%
HPE	B	0.07%	0.01%	0.01%
HPQ	B	0.11%	0.01%	0.01%
HST	D	0.0%	0.01%	0.0%
HSY	D	0.13%	0.01%	0.01%
IBM	A	0.29%	0.01%	0.01%
ICE	A	0.01%	0.01%	0.01%
IFF	D	0.03%	0.01%	0.01%
ILMN	B	0.01%	0.01%	0.01%
INTC	D	0.13%	0.01%	0.01%
INTU	F	0.34%	0.01%	0.01%
ITW	C	0.13%	0.01%	0.01%
JCI	C	0.17%	0.01%	0.01%
JNJ	D	0.41%	0.01%	0.01%
JNPR	C	0.06%	0.01%	0.01%
JPM	C	0.81%	0.01%	0.01%
K	B	0.07%	0.01%	0.01%
KEX	C	0.01%	0.01%	0.01%
KEYS	B	0.13%	0.01%	0.01%
KIM	C	0.0%	0.01%	0.0%
KLAC	B	0.05%	0.01%	0.01%
KMB	D	0.11%	0.01%	0.01%
KMI	A	0.03%	0.01%	0.01%
KO	C	0.33%	0.01%	0.01%
KSS	D	0.01%	0.01%	0.01%
LDOS	A	0.03%	0.01%	0.01%
LIN	C	0.34%	0.01%	0.01%
LLY	D	0.81%	0.01%	0.01%
LMT	A	0.27%	0.01%	0.01%
LOW	C	0.3%	0.01%	0.01%
LRCX	D	0.07%	0.01%	0.01%
LVS	B	0.04%	0.01%	0.01%
LYB	B	0.08%	0.01%	0.01%
MA	A	0.41%	0.01%	0.01%
MCD	A	0.23%	0.01%	0.01%
MCK	F	0.2%	0.01%	0.01%
MCO	D	0.02%	0.01%	0.01%
MDLZ	D	0.06%	0.01%	0.01%
MDT	C	0.23%	0.01%	0.01%
MET	A	0.2%	0.01%	0.01%
MKC	C	0.12%	0.01%	0.01%
MMC	D	0.17%	0.01%	0.01%
MMM	C	0.11%	0.01%	0.01%
MO	D	0.08%	0.01%	0.01%
MOS	F	0.02%	0.01%	0.01%
MP	C	0.0%	0.01%	0.0%
MPC	D	0.17%	0.01%	0.01%
MRK	F	0.37%	0.01%	0.01%
MRO	B	0.06%	0.01%	0.01%
MRVL	C	0.04%	0.01%	0.01%
MS	A	0.24%	0.01%	0.01%
MSFT	D	3.41%	0.01%	0.01%
MTB	A	0.11%	0.01%	0.01%
MU	D	0.07%	0.01%	0.01%
MUFG	D	0.14%	0.01%	0.01%
NEE	C	0.27%	0.01%	0.01%
NEM	C	0.04%	0.01%	0.01%
NKE	D	0.21%	0.01%	0.01%
NOC	B	0.17%	0.01%	0.01%
NOV	F	0.01%	0.01%	0.01%
NOW	B	0.14%	0.01%	0.01%
NSC	C	0.16%	0.01%	0.01%
NTAP	D	0.1%	0.01%	0.01%
NUE	D	0.02%	0.01%	0.01%
NVDA	B	3.39%	0.01%	0.01%
NVT	C	0.0%	0.01%	0.0%
NXPI	F	0.01%	0.01%	0.01%
ORCL	A	0.39%	0.01%	0.01%
ORLY	A	0.2%	0.01%	0.01%
OTIS	A	0.04%	0.01%	0.01%
PCG	C	0.0%	0.01%	0.0%
PEG	A	0.14%	0.01%	0.01%
PEP	F	0.27%	0.01%	0.01%
PFE	D	0.2%	0.01%	0.01%
PG	D	0.49%	0.01%	0.01%
PGR	B	0.17%	0.01%	0.01%
PH	A	0.15%	0.01%	0.01%
PLD	D	0.25%	0.01%	0.01%
PM	D	0.2%	0.01%	0.01%
PNC	C	0.15%	0.01%	0.01%
PNR	C	0.01%	0.01%	0.01%
PPL	C	0.08%	0.01%	0.01%
PRU	B	0.15%	0.01%	0.01%
PSA	C	0.23%	0.01%	0.01%
PSX	D	0.05%	0.01%	0.01%
PYPL	A	0.13%	0.01%	0.01%
QCOM	D	0.28%	0.01%	0.01%
REG	C	0.0%	0.01%	0.0%
REGN	D	0.12%	0.01%	0.01%
ROST	D	0.19%	0.01%	0.01%
RTX	A	0.33%	0.01%	0.01%
SBUX	B	0.2%	0.01%	0.01%
SCCO	B	0.01%	0.01%	0.01%
SCHW	D	0.14%	0.01%	0.01%
SHW	C	0.03%	0.01%	0.01%
SJM	D	0.08%	0.01%	0.01%
SLB	D	0.07%	0.01%	0.01%
SO	A	0.07%	0.01%	0.01%
SPG	A	0.14%	0.01%	0.01%
SPGI	C	0.24%	0.01%	0.01%
STLA	F	0.06%	0.01%	0.01%
STT	A	0.07%	0.01%	0.01%
SYF	A	0.04%	0.01%	0.01%
SYK	C	0.19%	0.01%	0.01%
SYY	D	0.13%	0.01%	0.01%
T	B	0.2%	0.01%	0.01%
TD	B	0.13%	0.01%	0.01%
TEL	D	0.16%	0.01%	0.01%
TGT	C	0.12%	0.01%	0.01%
TJX	D	0.34%	0.01%	0.01%
TME	B	0.01%	0.01%	0.01%
TMO	D	0.45%	0.01%	0.01%
TMUS	A	0.06%	0.01%	0.01%
TRV	B	0.19%	0.01%	0.01%
TSN	D	0.07%	0.01%	0.01%
TT	A	0.18%	0.01%	0.01%
TXN	C	0.38%	0.01%	0.01%
UNH	B	0.66%	0.01%	0.01%
UNP	F	0.26%	0.01%	0.01%
UPS	D	0.11%	0.01%	0.01%
USB	C	0.11%	0.01%	0.01%
V	B	0.61%	0.01%	0.01%
VLO	F	0.11%	0.01%	0.01%
VNT	F	0.01%	0.01%	0.01%
VTRS	D	0.01%	0.01%	0.01%
VZ	C	0.15%	0.01%	0.01%
WBA	F	0.01%	0.01%	0.01%
WFC	B	0.32%	0.01%	0.01%
WIT	C	0.06%	0.09%	0.06%
WM	B	0.21%	0.01%	0.01%
WMB	A	0.07%	0.01%	0.01%
WMT	A	0.39%	0.01%	0.01%
XOM	A	0.65%	0.01%	0.01%
ZTS	C	0.1%	0.01%	0.01%

SPGM Overweight 747 Positions Relative to BND

Symbol	Grade	Weight
META	A	1.45%
GOOG	B	1.03%
TSM	B	0.93%
TSLA	C	0.81%
BRK.A	B	0.7%
NFLX	A	0.32%
TM	D	0.29%
AMD	C	0.28%
ACN	B	0.27%
NVS	D	0.25%
SONY	C	0.23%
ELV	F	0.22%
UL	D	0.19%
IBN	C	0.18%
ISRG	C	0.16%
INFY	B	0.16%
CNI	D	0.14%
CEG	A	0.14%
CTSH	B	0.13%
RDY	D	0.13%
UBER	C	0.13%
FAST	C	0.12%
IR	A	0.12%
MELI	D	0.11%
YUM	C	0.11%
CMG	C	0.1%
ROIC	C	0.1%
SHOP	B	0.1%
CHT	C	0.09%
UMH	D	0.09%
PDD	B	0.09%
PANW	B	0.09%
VALE	D	0.08%
DEO	C	0.08%
NXRT	D	0.07%
HDB	D	0.07%
ANET	A	0.07%
F	D	0.07%
SMFG	D	0.07%
STX	C	0.07%
WDC	C	0.07%
PLTR	A	0.07%
TCOM	A	0.07%
VRTX	D	0.07%
VGR	B	0.07%
CRWD	D	0.07%
UMC	D	0.07%
LYG	C	0.06%
BCS	B	0.06%
DEA	D	0.06%
PKX	D	0.06%
NMR	F	0.05%
VLTO	A	0.05%
GOOD	A	0.05%
TTD	A	0.05%
FCX	B	0.05%
OXY	D	0.05%
GEV	A	0.05%
E	C	0.05%
MOD	B	0.05%
BX	C	0.05%
VRT	B	0.05%
MFG	B	0.05%
ITUB	D	0.05%
LNTH	C	0.04%
LW	D	0.04%
YUMC	B	0.04%
COIN	F	0.04%
TPR	B	0.04%
KB	D	0.04%
SE	B	0.04%
AXON	A	0.04%
TMDX	D	0.04%
FI	A	0.04%
ABNB	D	0.04%
SNPS	F	0.04%
SQ	D	0.03%
LNW	F	0.03%
SHG	D	0.03%
AXNX	A	0.03%
MSTR	B	0.03%
APP	A	0.03%
HOV	D	0.03%
NU	D	0.03%
RCL	B	0.03%
NET	D	0.03%
TAC	A	0.03%
DASH	A	0.03%
TBBK	A	0.03%
BRSP	D	0.03%
SNOW	F	0.03%
PBR	B	0.03%
BBD	C	0.03%
HMC	D	0.03%
MPWR	B	0.03%
AA	B	0.03%
DX	D	0.03%
KVUE	C	0.03%
VEEV	C	0.02%
BLDR	C	0.02%
TDG	A	0.02%
ACEL	C	0.02%
PINS	D	0.02%
GRBK	C	0.02%
GGB	B	0.02%
RBLX	D	0.02%
HUBS	D	0.02%
TTGT	F	0.02%
ZM	B	0.02%
PARA	F	0.02%
DYN	D	0.02%
AIV	D	0.02%
AZEK	D	0.02%
LULU	D	0.02%
ZS	F	0.02%
SKY	C	0.02%
AHH	F	0.02%
CHCT	F	0.02%
TEAM	D	0.02%
WBD	F	0.02%
MDB	D	0.02%
URI	C	0.02%
ABEV	B	0.02%
CHX	C	0.02%
FSLR	C	0.02%
DKNG	C	0.02%
FICO	C	0.02%
QTWO	B	0.02%
WTTR	B	0.02%
ADMA	A	0.02%
GOLD	C	0.02%
SMCI	F	0.02%
CVNA	A	0.02%
HIMS	C	0.02%
ITCI	D	0.02%
WDAY	D	0.02%
BKR	B	0.02%
IIPR	C	0.02%
FTI	B	0.02%
MT	B	0.02%
MRNA	F	0.02%
DDOG	B	0.02%
LI	C	0.02%
GEHC	C	0.02%
VERV	F	0.01%
VMEO	C	0.01%
FATE	F	0.01%
RLAY	F	0.01%
EDIT	F	0.01%
NR	F	0.01%
M	D	0.01%
WSR	C	0.01%
SQM	D	0.01%
LAZR	F	0.01%
CMPR	F	0.01%
JBI	F	0.01%
VICR	C	0.01%
CCO	C	0.01%
LASR	F	0.01%
GTLB	D	0.01%
BZ	C	0.01%
CHPT	F	0.01%
USLM	C	0.01%
ACMR	D	0.01%
FLNC	C	0.01%
JELD	D	0.01%
PIXY	F	0.01%
OGN	F	0.01%
CDE	C	0.01%
QS	F	0.01%
AUPH	C	0.01%
GATO	B	0.01%
PTEN	F	0.01%
CCB	B	0.01%
PACB	D	0.01%
KOP	F	0.01%
ITRI	C	0.01%
VKTX	C	0.01%
COHR	B	0.01%
OPEN	F	0.01%
LCID	F	0.01%
IDXX	D	0.01%
PACK	F	0.01%
LIND	C	0.01%
GNRC	B	0.01%
BTU	B	0.01%
KYMR	D	0.01%
BLFS	D	0.01%
TGI	F	0.01%
EXPI	C	0.01%
IMVT	D	0.01%
BCRX	D	0.01%
EVH	D	0.01%
KD	D	0.01%
FBK	B	0.01%
FRO	B	0.01%
RLX	D	0.01%
BOOT	B	0.01%
SLP	F	0.01%
AMSC	C	0.01%
SMAR	A	0.01%
MCB	B	0.01%
JKS	C	0.01%
DOCS	A	0.01%
PCH	C	0.01%
ALEX	D	0.01%
XPO	F	0.01%
PAY	D	0.01%
IDYA	F	0.01%
ASPN	C	0.01%
UPST	C	0.01%
PEN	D	0.01%
MDGL	F	0.01%
BLBD	D	0.01%
PHI	B	0.01%
ULH	B	0.01%
RUN	D	0.01%
W	C	0.01%
RCUS	D	0.01%
CLSK	F	0.01%
CELH	F	0.01%
CENX	C	0.01%
YETI	C	0.01%
MGNI	D	0.01%
PRTA	F	0.01%
CASH	C	0.01%
OMI	F	0.01%
DQ	C	0.01%
OSW	B	0.01%
PTCT	C	0.01%
SRPT	F	0.01%
BBWI	F	0.01%
EFC	D	0.01%
CLNE	C	0.01%
PTON	C	0.01%
PNTG	C	0.01%
TTI	D	0.01%
MCRI	B	0.01%
ALGN	D	0.01%
AGNC	B	0.01%
LUMN	C	0.01%
U	D	0.01%
BGNE	A	0.01%
CYH	C	0.01%
GSAT	F	0.01%
LWLG	F	0.01%
CLDX	F	0.01%
DOCU	A	0.01%
RNA	B	0.01%
INMD	F	0.01%
CZR	B	0.01%
VSTO	B	0.01%
COLL	A	0.01%
HASI	B	0.01%
TWLO	B	0.01%
RVLV	C	0.01%
PHR	F	0.01%
NBR	D	0.01%
LOB	B	0.01%
ALNY	C	0.01%
FUTU	A	0.01%
AAON	A	0.01%
MARA	F	0.01%
SOFI	C	0.01%
FOUR	A	0.01%
Z	C	0.01%
TREX	D	0.01%
BZH	C	0.01%
INTA	C	0.01%
SEMR	C	0.01%
DH	F	0.01%
CPRX	C	0.01%
SQ	D	0.01%
MNDY	B	0.01%
OKTA	F	0.01%
AUR	C	0.01%
SDGR	F	0.01%
RDNT	C	0.01%
MRC	D	0.01%
ROKU	C	0.01%
GME	D	0.01%
CLDT	D	0.01%
CLBT	B	0.01%
LBRDK	C	0.01%
THR	F	0.01%
HSTM	B	0.01%
MBIN	C	0.01%
CROX	C	0.01%
GMS	B	0.01%
ARWR	F	0.01%
ENS	B	0.01%
EXAS	C	0.01%
PBF	F	0.01%
TWST	D	0.01%
TDOC	D	0.01%
SID	D	0.01%
RDFN	C	0.01%
APA	F	0.01%
EPAM	F	0.01%
AKRO	D	0.01%
AKO.A	D	0.01%
CCS	C	0.01%
FLNG	B	0.01%
RKLB	B	0.01%
DVAX	F	0.01%
ERJ	C	0.01%
TOST	B	0.01%
RIVN	F	0.01%
VERX	B	0.01%
NWSA	D	0.01%
GERN	D	0.01%
SNAP	D	0.01%
TREE	C	0.01%
POWL	B	0.01%
XPEV	C	0.01%
ZETA	B	0.01%
MATX	C	0.01%
KOS	F	0.01%
ORA	C	0.01%
BBIO	F	0.01%
PLAY	D	0.01%
IMXI	F	0.01%
BEKE	A	0.01%
TGTX	D	0.01%
MHO	C	0.01%
ABR	C	0.01%
MTDR	D	0.01%
DDD	D	0.01%
COMP	C	0.01%
RYTM	C	0.01%
AFRM	C	0.01%
SOLV	C	0.01%
PLMR	A	0.01%
NIO	C	0.01%
ENPH	F	0.01%
VIPS	B	0.01%
GMRE	C	0.01%
TEVA	D	0.01%
AGYS	D	0.01%
INSP	C	0.01%
ON	F	0.01%
TAL	C	0.01%
DXCM	F	0.01%
OII	D	0.01%
CCL	C	0.01%
KRYS	D	0.0%
XPEV	C	0.0%
LI	C	0.0%
SMWB	C	0.0%
SCLX	F	0.0%
JOBY	C	0.0%
JAMF	F	0.0%
OEC	F	0.0%
AGL	F	0.0%
TH	F	0.0%
BMBL	F	0.0%
FLWS	F	0.0%
CRCT	C	0.0%
CGEM	F	0.0%
DAN	D	0.0%
FNA	F	0.0%
WOLF	F	0.0%
OVV	D	0.0%
ZEUS	F	0.0%
BOC	D	0.0%
MLCO	C	0.0%
SNCY	F	0.0%
TPB	C	0.0%
DENN	D	0.0%
SPRY	C	0.0%
KE	F	0.0%
MLNK	F	0.0%
SHEN	F	0.0%
PKST	D	0.0%
ASTH	B	0.0%
PRVA	F	0.0%
HDSN	F	0.0%
LGIH	C	0.0%
KRNT	A	0.0%
LSCC	D	0.0%
MXL	D	0.0%
MNSO	C	0.0%
OLO	F	0.0%
FLGT	F	0.0%
EYE	F	0.0%
TMCI	F	0.0%
SAGE	F	0.0%
DJT	F	0.0%
PUMP	D	0.0%
ORLA	B	0.0%
VIR	F	0.0%
CEVA	B	0.0%
PD	F	0.0%
CTKB	F	0.0%
FSBC	C	0.0%
MGPI	F	0.0%
ITOS	F	0.0%
CHRD	F	0.0%
PFC	D	0.0%
GRPN	F	0.0%
PARR	F	0.0%
REPL	C	0.0%
FIGS	C	0.0%
OLPX	C	0.0%
MRVI	F	0.0%
RGNX	F	0.0%
SEDG	F	0.0%
IRTC	F	0.0%
CRSR	D	0.0%
RENB	F	0.0%
GOGO	F	0.0%
ZUO	F	0.0%
BVN	D	0.0%
XPOF	F	0.0%
MDXG	F	0.0%
HAE	F	0.0%
HE	F	0.0%
ATEC	F	0.0%
KRUS	D	0.0%
ETNB	F	0.0%
CNDT	B	0.0%
NABL	F	0.0%
SWBI	F	0.0%
ICHR	D	0.0%
ELVN	A	0.0%
CAR	D	0.0%
BROS	F	0.0%
MAT	B	0.0%
GDS	B	0.0%
HUMA	F	0.0%
MAX	C	0.0%
NCNO	F	0.0%
RIG	F	0.0%
LPRO	D	0.0%
LYEL	F	0.0%
APPN	C	0.0%
SAVA	D	0.0%
CECO	D	0.0%
QFIN	A	0.0%
CXM	F	0.0%
APLS	F	0.0%
SGRY	C	0.0%
OLMA	F	0.0%
LAND	D	0.0%
CEIX	B	0.0%
CUBI	F	0.0%
MBAVU	C	0.0%
COTY	F	0.0%
DNOW	F	0.0%
IBP	C	0.0%
LMND	F	0.0%
PDFS	F	0.0%
HURN	D	0.0%
SM	D	0.0%
THO	C	0.0%
XHR	A	0.0%
NARI	F	0.0%
THRM	F	0.0%
SVC	D	0.0%
NEXT	F	0.0%
TLRY	F	0.0%
NMIH	B	0.0%
LESL	F	0.0%
QTRX	F	0.0%
ULCC	C	0.0%
PUBM	F	0.0%
ATEN	B	0.0%
IDT	C	0.0%
CALX	C	0.0%
PRO	F	0.0%
DGII	B	0.0%
SHLS	F	0.0%
RXST	F	0.0%
SHC	C	0.0%
GKOS	B	0.0%
ENIC	D	0.0%
ADUS	D	0.0%
TASK	F	0.0%
ESTA	D	0.0%
GH	F	0.0%
LILAK	D	0.0%
UVV	D	0.0%
HAYN	B	0.0%
AOSL	D	0.0%
ATRO	D	0.0%
KRNY	C	0.0%
EB	F	0.0%
CLF	D	0.0%
XPRO	F	0.0%
S	C	0.0%
MQ	F	0.0%
SIBN	F	0.0%
UCTT	D	0.0%
MERC	D	0.0%
CHEF	C	0.0%
DBI	F	0.0%
SOUN	F	0.0%
YMAB	C	0.0%
PENN	D	0.0%
CFLT	F	0.0%
HRI	B	0.0%
FVRR	D	0.0%
HAYW	C	0.0%
FDMT	F	0.0%
ARLO	F	0.0%
SABR	C	0.0%
AMRC	C	0.0%
ALHC	C	0.0%
FIVN	F	0.0%
IOVA	D	0.0%
TITN	F	0.0%
VNET	B	0.0%
RRC	D	0.0%
ARQT	D	0.0%
MNTK	D	0.0%
FIZZ	F	0.0%
EGBN	C	0.0%
SITM	A	0.0%
EYPT	F	0.0%
GLBE	C	0.0%
IAS	F	0.0%
VCYT	C	0.0%
ENVA	B	0.0%
YOU	C	0.0%
SKE	C	0.0%
ORIC	F	0.0%
BHB	D	0.0%
NVCR	F	0.0%
EMBC	F	0.0%
STAA	D	0.0%
AR	C	0.0%
NNDM	C	0.0%
FRSH	F	0.0%
METC	D	0.0%
CYTK	D	0.0%
VSCO	C	0.0%
NVRI	D	0.0%
VZIO	A	0.0%
NEOG	F	0.0%
CYRX	F	0.0%
IIIV	D	0.0%
WGO	D	0.0%
STOK	D	0.0%
HL	C	0.0%
ZI	F	0.0%
AMRK	C	0.0%
YY	C	0.0%
MTW	F	0.0%
BIGC	F	0.0%
OSPN	D	0.0%
BRBR	A	0.0%
SIGA	F	0.0%
HTHT	B	0.0%
AX	D	0.0%
ARRY	F	0.0%
ALT	F	0.0%
ATHM	B	0.0%
ARDX	D	0.0%
FSLY	D	0.0%
GRAB	C	0.0%
LXRX	F	0.0%
CDMO	D	0.0%
AVNS	D	0.0%
SQSP	A	0.0%
AMC	F	0.0%
RVNC	F	0.0%
GNK	D	0.0%
NX	F	0.0%
BEAM	F	0.0%
BXC	D	0.0%
LMB	B	0.0%
NTRA	A	0.0%
RVMD	B	0.0%
CRMT	F	0.0%
PODD	C	0.0%
JANX	C	0.0%
FC	C	0.0%
FROG	F	0.0%
CNC	F	0.0%
APPF	C	0.0%
INDI	F	0.0%
EWCZ	F	0.0%
TRUP	B	0.0%
UNIT	B	0.0%
CDNA	B	0.0%
ADNT	F	0.0%
DIN	D	0.0%
GDOT	C	0.0%
QNST	C	0.0%
PCVX	C	0.0%
CCBG	D	0.0%
UEC	C	0.0%
IAG	C	0.0%
YEXT	B	0.0%
MEG	F	0.0%
BRZE	F	0.0%
SMR	C	0.0%
WRBY	B	0.0%
SNDX	F	0.0%
INN	A	0.0%
ESTC	F	0.0%
ACHR	F	0.0%
AXSM	D	0.0%
FUBO	F	0.0%
RKT	D	0.0%
DHC	C	0.0%
ATUS	C	0.0%
ERAS	D	0.0%
BURL	C	0.0%
MOMO	B	0.0%
WOOF	B	0.0%
NTLA	F	0.0%
ATKR	F	0.0%
ELF	F	0.0%
TNDM	D	0.0%
DUOL	B	0.0%
TTWO	D	0.0%
WULF	C	0.0%
PL	D	0.0%
NUVB	F	0.0%
GDRX	F	0.0%
LYFT	D	0.0%
REZI	D	0.0%
UWMC	D	0.0%
CSTL	B	0.0%
SAM	D	0.0%
XMTR	F	0.0%
UPWK	D	0.0%
VVI	B	0.0%
TUYA	C	0.0%
TRNS	D	0.0%
TELL	B	0.0%
RNG	F	0.0%
SANA	F	0.0%
KHC	F	0.0%
DFH	C	0.0%
CASS	F	0.0%
PAR	D	0.0%
AMPS	F	0.0%
NCLH	C	0.0%
INSW	B	0.0%
DCO	B	0.0%
RXRX	F	0.0%
PLPC	D	0.0%
KC	C	0.0%
MTCH	B	0.0%
IBUY	A	0.0%
SPT	F	0.0%
ETSY	F	0.0%
VRNS	B	0.0%
ARVN	F	0.0%
KLG	F	0.0%
ALEC	F	0.0%
PFSI	C	0.0%
ENFN	C	0.0%
CLOV	B	0.0%
IIIN	F	0.0%
LSPD	C	0.0%
TXG	F	0.0%
ARCT	D	0.0%
MNMD	F	0.0%
VPG	F	0.0%
REPX	C	0.0%
RLJ	D	0.0%
LEU	A	0.0%
ACVA	C	0.0%
NSSC	F	0.0%
ANF	D	0.0%
EQT	C	0.0%
CERT	F	0.0%
CSGP	F	0.0%
NUVL	B	0.0%
TIGR	A	0.0%
PRG	C	0.0%
HSII	D	0.0%
HCP	A	0.0%
PGC	B	0.0%
OSCR	C	0.0%
SPR	D	0.0%
KEP	F	0.0%
RAMP	F	0.0%
ASAN	F	0.0%
CIG	C	0.0%
IQ	D	0.0%
CHGX	A	0.0%
DOCN	B	0.0%
RCKT	F	0.0%
RPAY	F	0.0%
LC	D	0.0%
SITE	D	0.0%
HEES	D	0.0%
FLYW	F	0.0%
BLND	C	0.0%
ACLS	F	0.0%
PTGX	C	0.0%
BJRI	B	0.0%
CIFR	C	0.0%
DMRC	D	0.0%
PRCT	D	0.0%
RGEN	F	0.0%
CARS	F	0.0%
CC	D	0.0%
CIB	D	0.0%
VRDN	B	0.0%
WRLD	F	0.0%
EXTR	D	0.0%
PATH	D	0.0%
EVRI	A	0.0%
PETQ	A	0.0%
BASE	F	0.0%
CTLP	B	0.0%
HUYA	B	0.0%
VITL	C	0.0%
NVAX	C	0.0%
NEO	F	0.0%
BYND	D	0.0%
SONO	F	0.0%
WIX	D	0.0%
DRH	B	0.0%
PLAB	D	0.0%
BE	F	0.0%
ROCK	D	0.0%
ZLAB	C	0.0%
NPAB	D	0.0%
WEAV	B	0.0%
AI	D	0.0%
PHAT	C	0.0%
NRIX	D	0.0%
ALLO	D	0.0%
PLUG	D	0.0%
ODFL	F	0.0%
PCT	C	0.0%
SRRK	F	0.0%
BILL	D	0.0%
ALKT	D	0.0%
GDYN	B	0.0%
MITK	F	0.0%
AAOI	C	0.0%
BILI	B	0.0%
ENVX	D	0.0%
RIOT	F	0.0%
NOVA	F	0.0%
ELAN	D	0.0%
AMR	F	0.0%
KREF	C	0.0%
LEGH	D	0.0%
APLD	C	0.0%

SPGM Underweight 294 Positions Relative to BND

Symbol	Grade	Weight
LXP	D	-0.01%
PAA	B	-0.01%
NFG	A	-0.01%
OSK	F	-0.01%
MKL	B	-0.01%
ORI	A	-0.01%
LNT	B	-0.01%
OCSL	D	-0.01%
OC	C	-0.01%
NYC	D	-0.01%
NWE	C	-0.01%
NVR	C	-0.01%
MSI	A	-0.01%
MCY	B	-0.01%
NTRS	B	-0.01%
PDM	C	-0.01%
GSBD	D	-0.01%
HUN	B	-0.01%
HUBB	A	-0.01%
HRB	C	-0.01%
HPP	F	-0.01%
IPG	D	-0.01%
IP	C	-0.01%
INVH	D	-0.01%
INGR	B	-0.01%
HII	F	-0.01%
HBAN	B	-0.01%
JBLU	B	-0.01%
JBL	C	-0.01%
JBHT	D	-0.01%
GWW	B	-0.01%
ET	A	-0.01%
EMN	C	-0.01%
FSK	A	-0.01%
CAH	B	-0.01%
CAF	A	-0.01%
BXP	B	-0.01%
BWA	C	-0.01%
BRO	A	-0.01%
BR	B	-0.01%
CPB	D	-0.01%
CP	C	-0.01%
COO	C	-0.01%
THG	A	-0.01%
ZION	D	-0.01%
ZBH	F	-0.01%
TRMB	B	-0.01%
PKG	B	-0.01%
PHM	C	-0.01%
NNN	C	-0.01%
OKE	A	-0.01%
OHI	C	-0.01%
OGS	C	-0.01%
OGE	C	-0.01%
LHX	A	-0.01%
LH	D	-0.01%
O	C	-0.01%
LEA	F	-0.01%
MPLX	B	-0.01%
KEY	B	-0.01%
KDP	C	-0.01%
IVZ	A	-0.01%
GLPI	C	-0.01%
JLL	C	-0.01%
GL	C	-0.01%
JHG	A	-0.01%
JEF	A	-0.01%
JD	A	-0.01%
L	C	-0.01%
KMT	C	-0.01%
KMPR	D	-0.01%
GBDC	B	-0.01%
UNM	A	-0.01%
WEC	B	-0.01%
WB	B	-0.01%
UBS	B	-0.01%
VTR	C	-0.01%
SWK	C	-0.01%
VRSN	C	-0.01%
VRSK	D	-0.01%
STZ	D	-0.01%
STLD	C	-0.01%
XEL	C	-0.01%
WTFC	B	-0.01%
WPC	C	-0.01%
R	C	-0.01%
SLG	C	-0.01%
SKT	A	-0.01%
SITC	D	-0.01%
RS	D	-0.01%
RPM	A	-0.01%
PWR	A	-0.01%
RL	B	-0.01%
RIV	A	-0.01%
PFG	A	-0.01%
SCS	D	-0.01%
RGA	B	-0.01%
REXR	D	-0.01%
SAVE	F	-0.01%
SAFE	C	-0.01%
EG	A	-0.01%
PPG	D	-0.01%
SON	D	-0.01%
SNX	C	-0.01%
SNV	D	-0.01%
MAS	C	-0.01%
PCAR	D	-0.01%
NHI	C	-0.01%
NEU	F	-0.01%
MLM	F	-0.01%
NDAQ	C	-0.01%
LNC	B	-0.01%
MHK	C	-0.01%
NYCB	D	-0.01%
HSBC	A	-0.01%
MCHP	F	-0.01%
HUM	F	-0.01%
GPC	D	-0.01%
GP	D	-0.01%
HRL	F	-0.01%
HR	D	-0.01%
HP	D	-0.01%
HIW	C	-0.01%
HIG	A	-0.01%
IEX	D	-0.01%
HAS	A	-0.01%
H	B	-0.01%
ESS	D	-0.01%
ESGR	C	-0.01%
ES	D	-0.01%
EQH	B	-0.01%
EPR	C	-0.01%
FRT	D	-0.01%
FNF	C	-0.01%
EW	F	-0.01%
EVRG	C	-0.01%
ETR	A	-0.01%
BRX	C	-0.01%
AAT	C	-0.01%
AAP	F	-0.01%
PECO	C	-0.01%
DG	F	-0.01%
EFX	D	-0.01%
EE	B	-0.01%
DAL	C	-0.01%
CTS	B	-0.01%
DTE	B	-0.01%
CSL	A	-0.01%
FMC	C	-0.01%
FLS	A	-0.01%
FLO	D	-0.01%
DOX	B	-0.01%
BC	C	-0.01%
BBY	C	-0.01%
COE	D	-0.01%
AIZ	B	-0.01%
CNO	B	-0.01%
AZO	D	-0.01%
CNA	D	-0.01%
AXS	A	-0.01%
AWK	D	-0.01%
AVT	B	-0.01%
CMA	C	-0.01%
AVB	C	-0.01%
AGR	C	-0.01%
AGO	B	-0.01%
ATO	A	-0.01%
CINF	A	-0.01%
AEE	A	-0.01%
CHH	A	-0.01%
BMO	B	-0.01%
ARW	C	-0.01%
ADC	C	-0.01%
ACGL	A	-0.01%
ARE	D	-0.01%
ARCC	A	-0.01%
CE	D	-0.01%
BG	F	-0.01%
CBT	B	-0.01%
CBOE	B	-0.01%
AN	D	-0.01%
AMP	A	-0.01%
CACC	F	-0.01%
CPT	C	-0.01%
BDN	B	-0.01%
BCSF	A	-0.01%
AMH	D	-0.01%
AAL	D	-0.01%
TDY	A	-0.01%
TAP	D	-0.01%
XYL	C	-0.01%
XRAY	D	-0.01%
TKR	B	-0.01%
OPI	F	-0.01%
LII	C	-0.01%
LEN	C	-0.01%
LEG	D	-0.01%
LAZ	C	-0.01%
KRG	C	-0.01%
KRC	C	-0.01%
KR	C	-0.01%
KOF	D	-0.01%
WELL	C	-0.01%
UHS	D	-0.01%
UDR	C	-0.01%
WBS	D	-0.01%
WAB	A	-0.01%
TXT	F	-0.01%
TSLX	B	-0.01%
TSCO	A	-0.01%
SWX	C	-0.01%
SWKS	F	-0.01%
VOYA	A	-0.01%
VNO	B	-0.01%
VMI	B	-0.01%
SUI	D	-0.01%
VMC	D	-0.01%
STE	D	-0.01%
WY	C	-0.01%
WU	D	-0.01%
WTRG	D	-0.01%
WRK	C	-0.01%
WRB	C	-0.01%
VFC	A	-0.01%
WLK	C	-0.01%
WHR	C	-0.01%
PNW	C	-0.01%
SNA	C	-0.01%
RYN	C	-0.01%
QRVO	F	-0.01%
RSG	D	-0.01%
SIGI	D	-0.01%
RPRX	D	-0.01%
ROP	D	-0.01%
ROK	D	-0.01%
RNR	A	-0.01%
SF	A	-0.01%
RJF	B	-0.01%
PSEC	C	-0.01%
RF	B	-0.01%
SBRA	C	-0.01%
PRE	D	-0.01%
MAR	A	-0.01%
MAIN	A	-0.01%
MAA	D	-0.01%
OMC	C	-0.01%
UAL	A	-0.01%
RY	C	-0.01%
BHP	B	-0.01%
DB	A	-0.01%
EDC	A	-0.01%
GSK	F	-0.01%
EPD	A	-0.01%
SRE	C	-0.01%
AIG	C	-0.01%
BNS	C	-0.01%
TFC	D	-0.01%
EQNR	D	-0.01%
D	A	-0.01%
FITB	C	-0.01%
LUV	B	-0.01%
NI	A	-0.01%
VOD	D	-0.01%
NWG	B	-0.01%
FHN	D	-0.01%
DGX	D	-0.01%
ED	C	-0.01%
CUBE	C	-0.01%
FANG	D	-0.01%
CTAS	C	-0.01%
FAF	C	-0.01%
FLEX	B	-0.01%
EXR	D	-0.01%
DRI	C	-0.01%
DOV	C	-0.01%
DSS	F	-0.01%
COKE	C	-0.01%
AL	D	-0.01%
AJG	C	-0.01%
CNP	B	-0.01%
AYI	A	-0.01%
CMS	A	-0.01%
AWH	F	-0.01%
AVY	D	-0.01%
CM	C	-0.01%
AVA	D	-0.01%
AFG	A	-0.01%
AER	C	-0.01%
CHI	B	-0.01%
BKH	C	-0.01%
APO	A	-0.01%
CCI	D	-0.01%
BERY	C	-0.01%
AMCR	C	-0.01%